SUNDAY 4TH APRIL 2021 by THISDAY Newspapers Ltd

Odumakin Contracted COVID-19, Recovered, Dies of Lung Complications Buhari, Osinbajo, Obasanjo, Jonathan, Atiku, Tinubu, Govs, others pay tribute to late activist Our Correspondents The fiery spokesperson of Afenifere, a pan-Yoruba socio-political group, Comrade Yinka Odumakin, yesterday, died from lung

complications, after testing negative to COVID-19 twice. He had earlier contracted the COVID-19 but had recovered and tested negative to the virus on two consecutive times. Odumakin had been

discharged penultimate Monday from the Infectious Diseases Hospital (IDH), Yaba, Lagos, the isolation centre for COVID-19 patients. But while still battling the disease, he was said to

have been intubated and, in the process, suffered lung complications. According to close family sources, when the complications in his respiratory organs did not give way as quickly as expected,

he was rushed to the Lagos State University Teaching Hospital (LASUTH), Ikeja, where he eventually passed on yesterday. Family sources told THISDAY that the intubation

at IDH had so affected his lungs that recovery was difficult. Odumakin’s wife, Dr. Joe Okei-Odumakin, who Continued on page 8

Report: Fintechs Raised $120.557 Million in 60 Deals in 2020… Page 5 Sunday 4 April, 2021 Vol 26. No 9492

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Sule Cautions against Reprisals over Murder of Herders’ Leader Igbawase Ukumba in Laﬁa

WEDDING FATIHA R-L:: Speaker, House of Representatives, Rep. Femi Gbajabiamila; Governor of Kano State, Abdullahi Ganduje; Speaker Kano State House of Assembly, Rt Hon Hamisu Ibrahim Chidari; and Rep. Sani Bala during the wedding Fatiha of Chairman, House Committee on Power, Rep. Magaji Dau’s son on Saturday 3 April 2021. Photo: Speaker's Media Unit

Nasarawa State Governor, Abdullahi Sule, yesterday expressed sadness over the killings of two leaders of Miyetti Allah Cattle Breaders Association (MACBAN) in Nasarawa State and cautioned against reprisal attacks capable of worsening the situations. Chairman of Miyetti Allah Cattle Breeders Association in Nasarawa State, Alhaji Mohammed Hussain, and his counterpart in Toto Local Government Area of the state, Continued on page 15

Buhari Laments Inﬂux of Illegal Arms, Condemns Killings in Ebonyi, Anambra Directs relevant agencies to fish out perpetrators President to submit supplementary budget on security, says Lawan Adopt new strategies to fight insurgency, banditry, Niger Senator tells security agencies Deji Elumoye in Abuja and Laleye Dipo in Minna President Muhammadu Buhari has expressed worries over the increasing influx of illegal weapons into the country, even as he condemned the recent

killings in both Anambra and Ebonyi States, which claimed some lives, including three policemen. Buhari, who immediately directed security agencies to fish out the persons behind the attacks and make them

face the consequences of their action, however, sympathised with a former Central Bank of Nigeria governor, Professor Chukwuma Soludo, who also survived a recent attack at his hometown in Isuofia, Anambra State.

In a related development, the country's security agencies have been advised to adopt new strategies to fight insurgencies and banditry now prevailing in parts of the country, the Senator representing Niger East

Senatorial district in the national assembly Senator Mohammed Sani Musa has suggested. Musa made the suggestion against the backdrop of the massacre of 7 security operatives in their Allawa

security base in the Shiroro local government of Niger state on Thursday. This is as the President of the Senate, Ahmad Lawan, has disclosed that President Buhari Continued on page 5

At Easter, Nigerian Leaders Felicitate with Christians, Urge Unity, Cooperation…Page 12

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REMEMBERING CHRIST AT EASTER L-R: Palm - Avenue Senior Circuit Steward, Bro. Abiona Babarinde; Palm - Avenue Circuit Presbyter, Very Rev Mathew Ogunsiji; Bishop, Diocese of Lagos West, The Rt. Rev.(Dr.) Sunday Ogunlere; Conference Legal Oﬃcer, Very Rev (Barr.) David Olufemi; Palm - Avenue Cathedral Senior Steward, Bro. Olabode Adeyemi; all of Methodist Church Nigeria at the Palm Sunday service held at Methodist Church Nigeria, Cathedral of Blessing, Palm - Avenue, Lagos

Report: Fintechs Raised $120.557 Million in 60 Deals in 2020

Obinna Chima

Financial technology (fintech) startups in Nigeria raised a total of $120,557,026 in 60 deals in 2020, the Nigerian Startup Funding Report 2020 published by Techpoint Africa has revealed. According to the report obtained yesterday, of the 60 deals, 18 of it were pre-seed rounds. A further breakdown of the amount raised showed that 53.7 per cent of the total funding was raised by financial

services providers; while 74.7 per cent was attributable to six startups that individually raised at least $10 million. Also, while 3.5 per cent, which was 15 of the deals were local; 37 (71.2% of the total amount raised), were foreign deals, and nine (25.3% of the total amount raised) were deals with participation by both local and foreign investors. However, it pointed out that there were more than 15 undisclosed deals in the year. Some of the sectors that benefited from the funding

last year were startups in agriculture ($200,000), education ($150,000), energy ($3,000,000), financial services ($64,793,455), healthcare ($32,249,955), human resources ($2,830,000), media ($750,000), mobility and logistics ($793,616), online retail ($13,970,000), retail ($20,000) and services ($1,780,000). In all, the report showed that 26 financial services providers raised a total of $64,793,455. Flutterwave which had a Series B funding in 2020, was listed as the top deal of the

year, with $35 million Series B fund raising. It is however, worthy to note that the fintech startup last month raised $170 million in a Series C funding round, bringing its total fund raising to $225 million since its launch five years ago. Other companies that featured among the top deals of the year were 54gene, Aella Credit, Helium Health, Kuda, TradeDeposit, Field Intelligence, Autochek Africa, Resource Energy, CredPal, YellowCard, Youverify, Xend Africa, Lifestores Pharmacy and Okra.

“For the third time in a session, technology startups in the financial services industry raised more than half of the total amount raised by Nigerian technology startups in 2020. In 2019, financial services had 51.1 per cent with the share rising to 53.7 per cent in 2020. “The acquisition of Paystack – a financial services provider founded by Nigerians – by Stripe for over $200 million topped the list of happenings in the Nigerian tech startup space in 2020. This further

solidified global financial services providers’ interest in the Nigerian market. “Unlike in the last two years, the industry didn’t get any regulatory hit. In June 2020, the Central Bank of Nigeria released an exposure draft of a regulatory framework for sandbox operations to guide innovation in the country’s financial services space,” it stated. t4FF QBHFT GPS NPSF PO 5FDIQSFOFVST DPOUJOVBUJPO GSPN MBTU XFFL

BUHARI LAMENTS INFLUX OF ILLEGAL ARMS, CONDEMNS KILLINGS IN EBONYI, ANAMBRA would later this month submit a supplementary budget to the National Assembly to request for more funds to tackle insecurity across parts of the country. Buhari, in a statement yesterday by his Media Assistant, Garba Shehu, condemned a deadly attack that took place on Monday night in the three communities of Egedegede, Obegu and Amuzu in Íshíelu Local Government Area (LGA) of Ebonyi State and promised that the perpetrators of the “heinous attack” would not be spared. The president also extended his sympathies to families and friends, who had lost their loved ones, and to every member of the communities in Ebonyi State traumatised by the despicable acts of wickedness. In his message of sympathy to Soludo, Buhari stated: "I strongly condemn the cowardly terrorist attack on an outstanding Nigerian, Professor Chukwuma Soludo. Our prayers are with him and the families of the security operatives, who lost their lives trying to defend innocent citizens assembled for a peaceful meeting", he said. Expressing concern at the influx of illegal weapons, the President reassured Nigerians that ongoing efforts, which had led to the record recovery of

illegal weapons and arrests of a large number of arms suppliers would be intensified. According to him, the federal government would continue to empower the police and the armed forces in their brave struggle against terrorism, banditry and kidnapping".

Senator Mohammed Sani Musa The federal Lawmaker lamented that the nation was losing too many of its trained personnel to bandits and even the Boko Haram elements which requires that the top echelon of the armed forces should re-strategise to protect our soldiers and policemen. He said it will not be out of place if the military and other security forces force out the bandits and other criminals from their hiding places in the forests since they have turned the forests to their abodes from where they unleash mayhem on innocent and peace loving Nigerians. Musa described as shocking and totally unacceptable the massacre of these security men by these lawless and blood thirsty bandits saying everything should be done to exterminate them once and for all. He however said the army and police authorities should reconsider their decision to close the military camps at

Allawa and Bassa as a result of the Thursday incident. Closing the camps is not the solution to the problem since chopping off the head has never been the solution to persistent headache, what we should do is to devise new methods of tackling insurgency and banditry. Closing of the camps will open the communities to more attacks by bandits he said. Musa commiserated with officers and men of the Nigerian Army and those of the police as well as the families of the deceased security operatives who lost their lives in the attacks by these bandits and pray to God to grant the souls of the departed eternal rest and their families the fortitude to bear the irreparable loss.

Senate President Meanwhile, Lawan, who made the disclosure while speaking to journalists in his home town, Gashua, Saturday, all of which were captured in a statement by Ezrel Tabiowo, Special Assistant to President of the Senate, said the National Assembly would stop at nothing to ensure that normalcy and security were restored to states faced by challenges such as kidnapping, insurgency, banditry and militancy. He said: “About the issue of

security, I think the National Assembly has done quite a lot in that area working with the Executive arm of government and, recently, on Monday or so, the Speaker of the House of Representatives and I met with Mr. President, and the center of our discussion was the security of the country. “How do we engage the security of this country? It has been a nagging issue, but it is not an issue that cannot be solved. With the appointment of the new Service Chiefs, we have seen newer strategies and Mr. President and the National Assembly will be working to provide more resources in the supplementary budget, which the presidency will submit sometime maybe this month to the National Assembly.” According to him, “We (National Assembly) are prepared to give every possible resource to our security agencies to fight and restore normalcy to every part of the country, whether it is insurgency, banditry, militancy or kidnapping. “We believe that we need to have security before life can be better, because you can’t do anything or attract direct foreign investments, even farming becomes impossible in some states, because of the level of insecurity. “So, security is key. It is essential and a necessity that we have to restore normalcy

in this area and, Mr. President gave the security chiefs six weeks to restore security in our rural areas, particularly, because the rainy season will come pretty soon – maybe in the next two months and without security in the rural areas, there’ll be no farming. “And when there’s no farming, our food security will be threatened and our security situation will be further complicated.” The Senate President, who underscored the importance of unity in national development, said those clamouring for the break-up of the country were in the vast minority, adding also that, those behind the minority agitations were disgruntled elites bent on satisfying their self-serving interest to the detriment of majority of Nigerians. He added that the unity of Nigeria would continue to be the cardinal focus of the National Assembly by ensuring equity, justice and fairness for every part of the country. “Nigeria will continue to be one. What we need to emphasise always is equity, justice and fairness to all, for all. I think this is one way to go, probably the only way to go to ensure that everybody feels belonged. Speaking on the achievement of the government, he noted that, “This administration has

done quite a lot in that area. If you look at the spread of federal government projects across the country, you will agree with me that the federal government has not favored any part of the country. “I think the government is doing quite a lot to ensure that there’s that equitable distribution of projects across the country. I believe that the unity of this country will continue to be our major focus. From time to time, you hear some people talking of maybe establishing their own country or secession. “I believe that majority of Nigerians believe that they should stay together – and I mean the ordinary Nigerians. These are people who believe in the unity of this country. But the elites is where the problem is. The elites will tell you, no, we have to secede. I believe that we should be fair to the multitude of Nigerians – those ordinary people of Nigeria. What they require is leadership. “We must give them leadership, a fair leadership. If we have any issues, we should be able to discuss the issues. We should not neglect people when they complain, but that is not likely to be the most popular position of the people from any part of the country. So, I believe that unity of this country is non-negotiable”, Lawan said.

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NEWS ODUMAKIN CONTRACTED COVID-19, RECOVERED, DIES OF LUNG COMPLICATIONS confirmed some of the information in a brief statement formally announcing her husband’s death, stated, “With gratitude to the Supreme Being for a life well spent, I announce the passing on of my beloved husband, Comrade Yinka Odumakin, to the great beyond after a brief illness.” In the statement titled, “A Part of Me Is Gone!” Mrs. Odumakin said, “The sad event happened this morning (Saturday, 3/4/2021) at the intensive care unit of LASUTH, where he was being managed for respiratory issues due to complications from COVID-19, which he had recovered from about a week ago. “I appreciate the outpouring of grief and sympathy from home and abroad as I mourn my irreplaceable soul mate. I urge us all to remain steadfast in the cause of the masses to which he dedicated his life.” There was a massive outpouring of grief, emotion, and eulogy at the news of Odumakin’s death, as national leaders, prominent Nigerians, and citizens from across the country paid tribute yesterday to one of the country’s most outspoken advocates of social justice, and spokesman of the pan-Yoruba socio-political group, Afenifere. President Muhammadu Buhari, in an emotional statement, described the fallen spokesman of Afenifere as a dutiful man of conviction. In the condolence message signed by his Special Adviser on Media and Publicity, Femi Adesina, Buhari commiserated with the family, friends, and acquaintances of Odumakin. The late Odumakin was spokesman to Buhari in 2011, when he ran for president on the platform of the now defunct Congress for Progressive Change (CPC). The president said Odumakin died at a time when he had a lot more to contribute to the country. He prayed God to grant repose to the soul of the departed activist and comfort all those he left behind. Vice President Yemi Osinbajo, in a release on Saturday by his media assistant, Laolu Akande, expressed sadness at the news of Odumakin’s death. Osinbajo commiserated with his wife, family and associates, and prayed that God will comfort the family. Former President Olusegun Obasanjo also reacted to the sad news and immediately paid a condolence visit to the leader of the pan-Yoruba group, Pa Ayo Adebanjo, at his Lagos residence to commiserate with him over the demise of Odumakin. In an equally touching tribute titled, “A strong voice for equity is gone,” former President Goodluck Jonathan described Odumakin as “a courageous patriot and rights crusader who gave his all to the struggle for a better Nigeria.” Jonathan said Odumakin was a man with rich democratic credentials who “played active roles in the years of activism that birthed and stabilised civil rule in our country.” The former president stated regarding Odumakin, “He was a great asset for just causes whose considerable contributions to the growth of civil society is not in doubt. He also acquitted himself as a seasoned journalist and columnist who promoted egalitarianism and social wellbeing, in his regular essays.” The statement signed by Jonathan’s media adviser, Ikechukwu Eze, also said,

Fani-Kayode said, "The South-west and, indeed, Nigeria has lost one of its greatest sons and brightest stars. Those of us who had the honour of being called your brother and who stood by you shoulder to shoulder through the most trying times for our people and the most bitter battles for the emancipation of our nation shall miss you dearly. “You were a Spartan and a Roman all rolled into one in every sense of the word. “A great son of the West who inspired millions, who made us proud of who we are and what we stand for, who humbled our collective adversaries and who harboured no fear. “Your legacy is truly blessed and wrapped in glory and it shall surely endure.”

Ekweremadu: Odumakin was gallant soldier for democracy

Odumakin

“As a cultural enthusiast, Mr. Odumakin lived his short life as a force to be reckoned with in propagating and protecting the interest of the Yoruba in the larger Nigeria social space. “This is not a time to lose such a strong promoter of the ideals that would progress our nation in the desired direction of a united, just and equitable society.”

person, because we’ve been so intimate. “He’s been my right-hand man in Afenifere management. It’s terrible. Yinka should not have gone at this time. “It’s a terrible blow to Afenifere and Nigeria. We’ve lost a brilliant chap with intelligent and brilliant ideas. This is sad, very sad.”

him as a seasoned public analyst, activist, politician and patriot, who was relentless in canvassing and serving the interests of Yorubaland and the progress of the country at large. Secretary of the APC Caretaker/ Extraordinary Convention Planning Committee, Sen. John Akpanudoedehe, in a statement issued Saturday said Odumakin was an uncommon patriot.

Odumakin was He Was a Strong a focused social He was a Champion Believer in Good crusader – PDP of Egalitarianism – Governance – Atiku Sanwo-Olu The main opposition Peoples Abubakar Former Vice President Atiku Abubakar described Odumakin as a promoter of good governance. In a statement he personally signed, Atiku said, "Odumakin was a patriot and strong believer in the promotion of good governance, democracy and the rule of law. I sympathise with all Nigerians who share these same values with Odumakin, especially the Afenifere group, of which Yinka was the publicity secretary – a role he played with so much commitment and admiration. "Much as our heart grieves over this unpleasant development, we must take solace in accepting it as an act of God and acknowledge the fact that Yinka lived a life of purpose in defence of the ordinary people of this country and to enthrone a better Nigeria."

Afenifere: It’s a Loss Too Heavy to Bear Afenifere leader, Pa Ayo Adebanjo, tweeted a photo of Odumakin, which he captioned, “This is too heavy to bear.” Secretary-General of Afenifere, Basorun Sehinde Arogbofa, described the death of the Afenifere spokesperson as a terrible blow to the country and the group. Arogbofa, who reacted in Akure, said, “it’s a terrible blow. A terrible blow to me, as a

Democratic Party (PDP) said Odumakin’s death was a huge loss to the country and, particularly, the PDP, given his erudite contributions to national dialogue and relentless commitment towards the development of democratic ethos in the country. In a statement, National Publicity Secretary of PDP, Kola Ologbondiyan, said, "Odumakin was consistently focused in fighting for a nation in which the principles of equity, fairness and justice will thrive in every sphere of our national life. "He dedicated his life as a journalist, human right activist and social crusader for improvement in every phase of the live in our country. "Indeed, if Yinka Odumakin had the last pint of blood in his vein and there was a need to drop same for democracy to be strengthened in our country, he would have readily made it available "Our party commiserates with his dear wife, Joe, who has also remained steadfast in fighting for human right, good governance, credible elections as well as justice, especially for the downtrodden."

He was an uncommon patriot – APC All Progressives Congress (APC) mourned the death of Odumakin, describing

Governor Jide Sanwo-Olu of Lagos State said, in a statement by his Chief Press Secretary, Mr. Gboyega Akosile, that the late activist was a great nationalist, passionate leader, and champion of a true Nigeria that would work for every citizen. The governor said, "Odumakin as civil rights activist was selfless. He spent the greater part of his life in the service of humanity, particularly the emancipation of the Yoruba people, the development of the South-west region, in particular, and the nation, in general." Odumakin "stood firmly behind the attainment of constitutional democracy and fiscal federalism as the basis for sustainable development and lifting the masses out of poverty," Sanwo-Olu added. He said, “I personally followed the late Odumakin and found his principled position and capacity to speak truth to power as crucial for Nigeria’s political and economic development."

A Bright Star Departed Prematurely – Tinubu National leader of the ruling All Progressives Congress (APC) and former governor of Lagos State, Asiwaju Bola Tinubu, called Odumakin a dedicated and courageous civil society activist. Tracing Odumakin’s activism to his student days, Tinubu, in a

personally signed statement, titled, “Yinka Odumakin: Premature Departure of a Bright Star,” said, “Odumakin never held public office. But he has been a constant feature and part of our public consciousness over the last two decades of this unbroken democratic dispensation. He epitomised the true definition of the citizen; a patriot who was ever conscious of the fact that his life could not be complete or his humanity meaningful if he did not take an active interest in and join likeminded fellow citizens in seeking always to promote the common good of his community and country.”

He was Embodiment of Noble Virtues – Makinde Governor 'Seyi Makinde of Oyo State described Odumakin’s death as the personal loss of a good brother and a great loss to the Yoruba race. In a statement by his Chief Press Secretary, Taiwo Adisa, Makinde said the late Afenifere spokesman was a true Yoruba son, who embodied the ethos of Omoluabi, a dogged and true fighter of the Yoruba cause, and an advocate of good governance and true federalism. He said Odumakin's death had created a huge vacuum in Yoruba land and Nigeria. The governor said, "While we submit to the will of Almighty God, who retains the right over the lives of every mortal, we are convinced that the values and ideals that Odumakin fought for in his lifetime have not died with him."

He was a Great Son of the West – FaniKayode A former aviation minister, Femi Fani-Kayode, said described Odumakin as a great warrior who feared nothing and stood for truth and justice right to the end.

Former Deputy President of the Senate, Senator Ike Ekweremadu, condoled with the pan-Yoruba group, describing Odumakin’s death as a heavy loss, not only to the Yoruba nation, but also to the country as a whole. Ekweremadu said Odumakin was a courageous leader, who worked tirelessly for a peaceful, equitable, and prosperous Nigeria. “He was a gallant soldier for democracy and will be remembered for his dogged battles in this regard,” Ekweremadu said, adding, “It is sad that we have lost him, but it is even sadder that Nigeria is far from the egalitarian and prosperous nation he had hoped and worked for.”

He had unparalleled commitment to equity – Southern and Middle Belt Leaders Forum Southern and Middle Belt Leaders Forum said concerning its late National Secretary, “Although he was an Afenifere chieftain, his commitment to building a Nigerian State, where fairness, equity and justice reigns, was unparalleled. "For Southern Nigerian and Middle Belt Forum, Yinka was a backbone who in the past few years worked tirelessly to give the organisation both national and international visibility and recognition. He also brought clarity and common understanding to the problems bedevilling our country, aimed at providing timely solutions to them.” The forum’s condolence message was jointly signed by its National Leader, Chief Edwin Clark; President-General of Ohaneze Ndigbo, Prof. George Obiozor; PresidentGeneral of Middle Belt Forum, Dr. Pogu Bitrus; and National Chairman, Pan Niger Delta Forum (PANDEF), Senator Emmanuel Ibok-Essien.

Odumakin was a true Yoruba son – Gani Adams The Aare Onakakanfo of Yorubaland, Gani Adams, described the death of Odumakin as one death too many, saying the Yoruba nation has lost a gem who was a dependable ally. Adams, in a statement by his Continued on page 15

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NEWS

At Easter, Nigerian Leaders Felicitate with Christians, Urge Unity, Cooperation Our Correspondents

our ethnicity, tribe, religion or creed.''

Nigerian leaders from different walks of life, yesterday, joined people of Christian faith across the globe to celebrate Easter, which marks the resurrection of Jesus Christ and urged the Nigerian people to embrace unity at this critical time in the nation’s body polity as well as cooperate with the leadership on the need to move the country forward. Some of the prominent Nigerian leaders, who seized the occasion of Easter celebration to address some of the nation’s challenges included former President Goodluck Jonathan, former Vice President Atiku Abubakar; Speaker of the House of Representatives, Femi Gbajabiamila; former President of the Senate and his deputy, David Mark and Ike Ekweremadu. Others, who also shared in the joy of the season were Governors Babajide Sanwo-Olu (Lagos), Ifeanyi Ugwuanyi (Enugu), Diouye Diri (Bayelsa), Muhammadu Yahaya (Gombe), Seyi Makinde (Oyo), Godwin Obaseki (Edo), Dapo Abiodun (Ogun), former Anambra State governor, Peter Obi and House of Representatives Minority Leader, Ndudi Elumelu. In their respective messages, apart from alluding to the significance and importance of Easter, they all saw the need for Nigeria to come together at this crucial moment, irrespective of political leanings and confront the common monster that currently challenges her unity.

Ugwuanyi Preaches Peace, Faith in God

Jonathan Urges Nigerians to Imbibe Godly Values Former President Goodluck Jonathan has felicitated with Christians as they mark this year’s Easter season, charging them to imbibe Godly values of righteousness, peace and justice. The former President also urged Nigerians to work in love, unity and faith as a means of overcoming current challenges and building a prosperous nation. In a statement by his media aide, Ikechukwu Eze, Jonathan said: “The death and resurrection of Jesus Christ are at the cornerstone of the Christian faith. At Easter, Christians celebrate hope, eternal life, salvation, and redemption. “On this year's Easter, I call on all Christians to imbibe and sustain Godly values of righteousness, peace and justice, which are the true nature of Christ. “As we celebrate, I urge all Christians and all Nigerians to work in love, peace and unity and exercise faith and hope, so we can overcome our current national challenges and build a prosperous nation.”

Gbajabiamila Calls for Prayers, Unity Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has urged Nigerians especially,Christians to use this period of Easter to pray for the country and her unity. Gbajabiamila in his Easter message, said despite the challenges facing the country, there would be light at the end of the tunnel hence the need for prayers now and always. The Speaker also called for unity of purpose among Nigerians, saying there was more that united the citizens as a people than that which sought to divide them. ''Nigeria is a great country with good people, who have great potential,” adding that if well harnessed, the nation and the citizens would be better for it. He continued, “Christians should imbibe the virtues of Jesus Christ. The life and time of Jesus Christ are a perfect example of selflessness, care, affection, compassion and service to humanity,” calling on Nigerians to emulate same. "At this time of Easter, we have to unite as a people. We have to pray for our country. We should also be our brothers' keepers as always. I am certain that together as a people, we will achieve more. Our unity is ultimately our strength. “I call on all Nigerians to remain steadfast and resolute as we match forward as a nation bound by our diversity. Let's pray for our leaders. Let's pray for us to overcome our challenges, especially, the insecurity in our land. Let's show love to one another, irrespective of

Enugu State Governor, Ifeanyi Ugwuanyi has called on all Nigerians to take advantage of the significance of the resurrection of Jesus Christ to advance peace and commit themselves to God, in faith and in practice. Ugwuanyi, in his Easter message, congratulated his fellow Christians for the successful forty-day long Lenten season in penance for the atonement of sins and salvation of mankind, which Easter portends. The governor, who maintained that Easter was the hallmark of Christianity, stressed that the celebration of Christ’s resurrection and salvation, offered Nigerians a great opportunity to come closer to God and promote all virtues that would enhance peace, love, unity and progress of the country. While wishing the good people of Enugu State and indeed all Nigerians a spiritually rewarding Easter celebration, Ugwuanyi urged them to reflect soberly and intensify prayers for God’s intervention and abiding grace, for the country and the world to fully overcome the rampaging Coronavirus Disease (COVID-19) pandemic and other challenges. He, therefore, reiterated his resolve to continue to serve with the fear of God, and to work assiduously towards the advancement of peace and development of Enugu State, for the wellbeing of the people.

Diri Urges Bayelsans to Sacriﬁce, Embrace Love Bayelsa State Governor, Senator Douye Diri, has implored citizens of the state to embrace the virtues of sacrifice, love and hope that the Easter season typifies. Governor Diri in his message to Bayelsans said Easter not only embodied the culmination of the perfect plan to reconcile humanity to divinity, but also reminded mankind of the unique love of God, the supreme sacrifice of Jesus Christ and ultimately the hope for redemption for those who acceptedthe free gift of salvation. He urged the people to see the sacrificial death and unstoppable resurrection of Jesus as a pointer that hope was available to those who believed. Urging them not to despair due to challenges of the times, the governor assured that in keeping to its promises, his administration would continue to be people-focused in its policies and projects. "In celebrating the season, our citizens in Bayelsa State have cause to be doubly joyous as the present administration, in word and deed, continues to demonstrate that government belongs to the people. That those things that matter most to the wider body of citizens shape public policy and spending.”

Yahaya Felicitates with Christians, Preaches Tolerance Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya, has felicitated with the Christian community on the occasion of this year’s Easter celebration, calling on the faithful to use the period to pray for the continued peace and stability of the state as well as the country in general. In his goodwill message yesterday, Yahaya noted that the Easter period provided an opportunity for unity of purpose, reinforcement of bond of brotherhood and dedication in service to God and humanity as exemplified by Jesus Christ. He said Easter symbolised love, sacrifice, service to God and country as well as triumph of good over evil, urging the people to always reflect on the lessons and significance of the season and demonstrate same in their lives. “On this occasion of Easter feast, I want to enjoin our Christian brothers and sisters in Gombe State and the world over to continue to promote peace and good neighbourliness. I want to also urge you to remain steadfast in prayers and continue to sacrifice for the good and advancement of our dear state.

“I also call on you to continue to pray fervently against the security challenges in the country as well as the Covid -19 pandemic, which is still very much with us. We are indeed in a trying moment but I am optimistic that with collective commitment, sacrifice and by turning to God through prayers, we shall overcome all the trials and emerge stronger,” he said.

Makinde: Be Your Brother's Keeper, Forgive Oyo State governor, Seyi Makinde, has felicitated with Christians in Oyo State and around the world on the occasion of the 2021 Easter celebration, urging them to continue to be their brother's keepers and to learn to forgive others. Makinde, who stated this in a statement by his Chief Press Secretary, Mr. Taiwo Adisa, expressed gratitude to God for sparing the lives of residents of the state, especially, the Christian faithful, to witness the Easter season. He charged residents of the state to continue to support "their government," saying, “I want to thank God for sparing our lives up until this moment and to encourage the people, residents, and indigenes of Oyo State to remain steadfast." He charged Christians in the state not to take lightly the price Christ paid for their salvation and to continue to remain connected to Jesus Christ. "Christ has paid the price for us. So, they should keep on supporting their government and should, in the spirit of the season, be their brother’s keeper. If anyone has offended you, this is the period to forgive. This is the period also to get connected to our Lord and Saviour, Jesus Christ, who died so that we may be saved,” he said.

Resurrection of Christ, Sign of Victory, Says Secondus National Chairman of the Peoples Democratic Party (PDP), Uche Secondus, has charged Nigerians to allow love which is the cardinal point of Christian injunctions to guide their actions in relating with one another. Secondus, in a message to Christians at this year's Easter, said with love and piety, Nigerians wouldsurmount all the challenges the country was currently facing. In his message titled: “Nigeria will Overcome" and signed by Ike Abonyi, his media Adviser, Secondus said “the Easter period reminds us of brotherly love, peaceful co-existence, tolerance, honesty, humility, justice, equity and fairness to all without discrimination as contained in the Scriptures. "This particular injunction is important to us as a nation as we continue to contend with the challenges of nation-building, bad economy, insecurity and poor leadership.” In the same vein, the Edo State chapter of the PDP, said the Easter story represents the fulfillment of God’s Prophecy that mankind would be offered the hope of eternal life through the sacrificial death of His son, Jesus Christ and His subsequent resurrection from the dead, saying it is the faith that has kept the Christiandom alive and enabled its followers to significantly contribute towards making the earth a better place for all mankind. In a statement by Chris Osa Nehikhare, the party stated, “Let us also at this time reflect on the enormous progress we have made as a party and state and to strive to ensure that the gains made over the years are not squandered by those with unpatriotic predisposition. “As we celebrate Easter, let us re-commit ourselves to do all within our power to help our beloved state to soar to even greater heights in the true spirit of Easter. Let’s have faith that Easter signals a season of renewal, of change, and of moving ahead as we defeat the dreaded COVID-19 pandemic that is ravaging the world.”

candidate of the PDP in the last general election, Alhaji Atiku Abubakar has urged everyone to remain thankful to Almighty God for His benevolence by sending his son to die and takeaway the sins of the faithful. He also urged Nigerians to be thankful for giving mankind the knowledge to over come the coronavirus pandemic. In his Easter message, Atiku said the essence of Easter celebration was not merely to merry, rather, "It is a season to reflect on the purpose and meaning of love and sacrifice. Love, because God says we should love our neighbours as ourselves. And sacrifice, because love is hardly practicable without an intention to make a sacrifice. "Therefore, on this occasion of Easter celebration, I urge all Nigerians to take time to pray first of all for peace to return to the country and also for unity. Nigeria is at the precipice of insecurity, poverty and, most unfortunately, disunity. These are challenges, not impediments. "The way to surmount these challenges is to learn from the world when super power countries, who are rivals suspended politics to face a common threat in Covid-19", he said.

Mark, Ekweremadu Canvass for Love, Justice Former President of the Senate, Senator David Mark and his erstwhile deputy, Senator Ike Ekweremadu, have canvassed for a greater Nigeria where love and justice would prevail. In separate Easter messages, the duo stressed the need for tolerance among Nigerians at all times. Mark, in his Easter message issued by his Media Adviser, Paul Mumeh, urged Nigerians to consciously imbibe the culture of religious tolerance and peaceful coexistence in order to actualise development for the good of all. He canvassed for a harmonious society that guarantees a win-win situation for all, stressing that religion should ordinarily be the elixir for peace, good neighbourliness and development rather than the later day version. He said: “It is time for all men and women of good conscience to rise up and make a positive difference in our country. We should ponder on the supreme sacrifice of Jesus Christ, selflessness, forgiveness and eschew all forms of religious or social vices tearing the nation apart. “Let us work towards building trust and confidence between and amongst our people in order to stimulate a harmonious relationship. We are stronger together and we can surmount our difficulties as a people." On his part, Ekweremadu emphasised that the mounting challenges facing the nation could be effectively addressed if Nigerians unite in love, peace, and with every sense of justice and sacrifice as exemplified by Jesus Christ. The ranking Senator, in his Easter message, signed by his Media Adviser, Uche Anichukwu, expressed concern that the country had seriously retrogressed, because love had waxed cold, while injustice was palpable, thereby resulting in bad blood, disunity, and incompetence even in the most critical matters that affect the nation. “There was sacrifice as symbolised by Good Friday before there was ever a resurrection as represented by Easter. Therefore, at Easter, we are reminded by the sacrifice of Christ, who paid the supreme price for the salvation of mankind that we can actually take Nigeria back to the pinnacle of glory if we sacrifice ethno-religious and numerous other narrow interests for the collective good and progress of the country. “This is a call for us to unite, love, and treat one another with every sense of justice so that the whole nation is effectively mobilised to confront and surmount our numerous challenges with oneness of mind. It is a call to be our brother’s keeper in order to make the much-needed progress as a people.”

Obi Charges Nigerians to Work for Peace

Atiku: Love is Impossible Without Sacriﬁce

The Peoples Democratic Party (PDP) vice presidential candidate in the 2019 general

A former vice president and presidential

Continued on page 14

SUNDAY APRIL 4, 2021 • T H I S D AY

ͼ˜ ͺ͸ͺ͹ ˾ T H I S DAY, T H E S U N DAY N E W S PA P E R

N E W S A N A LYS I S

Customers Groan as MTN Nigeria, Banks Bicker over Commission

Obinna Chima writes on the dispute between MTN Nigeria and banks over commission for use of the financial institutions’ online platforms

n Friday, customers of MTN Nigeria awoke to the unpleasant reality that they could not purchase the telco’s airtime through the online platforms of the commercial banks. This caused a general sense of astonishment, which was followed by an explanation by MTN Nigeria via a text message to its customers. The Short Message Service (SMS) read, “Dear Customer, our bank recharge channels are currently unavailable. Kindly recharge using physical cards. We apologise for the inconvenience. Thank you.” The development was as a result of a fresh price dispute between MTN Nigeria and the banks, following the telco’s unilateral decision to reduce the commission offered to financial institutions for airtime sales, from four per cent to 2.5 per cent. This did not go down well with banks, as they complained about the cost of managing the infrastructure and other operational costs they incurred. In a letter to one of the MTN Nigeria’s distributors, dated March 31, 2021, the banks had protested that the proposed effective discount rate of 2.5 per cent did not cover their product marketing, application management, customer complaints management, and fraud management costs associated with the airtime vending service. In the letter, seen by THISDAY, the financial institutions insisted that an effective discount rate of four per cent was the minimum acceptable to them for rendering the service on behalf of MTN Nigeria. They demanded maintenance of the status quo to enable them continue to render the service. “Please note that if we do not receive a written confirmation of the acceptance of the above terms, we will be constrained to disconnect this service on our platforms and channels by close of business, April 1, 2021,” the bank stated. An industry source, who is familiar with the matter, said MTN Nigeria’s position, which came 48 hours before its implementation date, was clearly in bad faith and without regard for the interest of the banks. “But it is in line with MTN’s monopolistic tendencies and working against national interest,”

the source stated. He added, “In response, the banks have decided to suspend the service. Note that this relates to MTN alone. “The banks are insisting that they won’t take anything less than four per cent because they bear the cost of maintaining the infrastructure, protecting it from cyber-attacks, among other costs. “We have decided we would not offer MTN's services on our platforms anymore. “It was agreed that same date that MTN Nigeria gave us that it would start charging the 2.5 per cent, that we would stop offering its services on our platforms. Unless MTN reverses the discount and goes back to the four per cent, we would no longer sell its airtime on our platforms. “This is not an industry issue, this is personal to MTN alone. We cannot allow a foreign company come in here and take advantage of Nigerians. No Nigerian company can do this in South Africa and get away with it.” The source alleged that MTN’s plan was to outperform Nigerian banks and dominate the business environment. He further alleged that the telco’s position was based on a directive from its parent company to implement a market-dominant plan, which includes: controlling the Nigerian telecoms and financial sectors; eliminating aggregators and squeezing margins from all third party contractors and business partners; and preventing Nigerian banks from winning the battle for customer engagement via the telecom’s platform. According to the source, “The recent Unstructured Supplementary Service Data (USSD) pricing war sponsored by MTN with support from lobbyists and the new reduction in airtime discount rates is part of the company’s plan to curtail the financial inclusion initiatives of the financial sector and force the CBN to grant it a banking license to offer financial services based on its own terms and conditions. “MTN’s use of lobbyists and practice of exerting aggressive margin pressure on business partners was the model used in Ghana, Benin, Uganda, and Ivory Coast to achieve dominance

in Telecoms and Mobile Money. “In Nigeria, MTN now intends to force aggregators and banks to a lower discount to make up for its inability to charge a higher fee for USSD banking services. The parent company is unhappy with CBN and NCC’s resolution of the USSD issue and has instructed MTN Nigeria to implement this new commission reduction to put further pressure on Nigerian banks and its business partners.” Attempts to speak with staff of MTN Nigeria’s communications department were not successful. A senior staff of the department refused to pick his calls, and did not reply a text message by THISDAY. Currently, over 60 per cent of airtime vending by telcos are done electronically through the banks. However, reacting to the development, the Association of Licensed Telecoms Operators of Nigeria (ALTON) faulted the action of the banks. ALTON expressed concern that the action of the banks would affect MTN subscribers. Chairman of ALTON, Mr. Gbenga Adebayo, said, “If this is the way the banks want to show to the public that they have impact on telecoms subscribers, then only time will tell. So if there is a commercial agreement dispute between banks and MTN, I think it is also the duty of CBN, which is their regulator, to stop them from disconnecting innocent subscribers. We are watching to see how both regulators will handle this issue.” Adebayo urged the federal government to step in and deal with the issue once and for all. The latest dispute came about two weeks after the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) resolved a dispute on USSD fee between the banks and the telcos. CBN and NCC had in a recent communiqué issued at the end of a meeting to resolve the disagreement on USSD fee agreed that with effect from March 16, 2021, USSD services for financial transactions conducted at the banks and all CBN-licensed institutions would be a flat rate of N6.98 per transaction. This replaced the previous per session billing structure, producing a much cheaper average cost for customers

to ensure financial inclusion. The communiqué had explained, “To promote transparency, the new USSD charges will be collected on behalf of MNOs directly from customers’ bank accounts. Banks shall not impose additional charges on customers for the use of USSD channel. “A settlement plan for outstanding payments incurred for USSD services previously rendered by the MNOs is being worked out by all parties in a bid to ensure that the matter is fully resolved,” The CBN had in 2018 accused MTN Nigeria of forex manipulation to the tune of about $8.1 billion. Stakeholders fear that the recent moves by MTN may ruin Small and Medium-sized Enterprises (SMEs) in the country, given the extant policies making it difficult for business owners to break even. It is widely thought that MTN had long sought to monopolise the telco space, and it almost paralysed Nigeria’s nascent renewable energy sector with its battery product. An industry stakeholder, who preferred anonymity, said, “The biggest casualties of MTN’s aggressive exploitation of Nigeria are not just the SMEs, who are seeing their commissions constantly cut down till they die out of business; ordinary Nigerians bear the biggest brunt, without even knowing it. “Nigeria has some of the most expensive mobile data prices in the world, more than 10 times what Indians pay. Telcos like MTN take advantage of their massive size to keep the price of data high so that they can keep extracting money from unsuspecting citizens and a hapless country, all the while repatriating all the money to South Africa and not paying their fair share in taxes. “It is yet to be known if for once the Nigerian government and even big private institutions will stand up and stay strong to this drowning of Nigerian SMEs and daylight robbery of the country.” Analysts believe there is need for the telco and the banks to quickly resolve their dispute to avoid the devastating loss of revenue on all sides and the ripple effect on the customers.

AT EASTER, NIGERIAN LEADERS FELICITATE WITH CHRISTIANS, URGE UNITY, COOPERATION election, Mr.Peter Obi has called on Nigerians to be mindful of the need to continue to work for peace, which underscores the essence of Christ’s resurrection on Easter Sunday. In a statement from his media office, the former Anambra State governor urged Christians to imbibe the ideals of perseverance, sacrifice and commitment to the will of God, which characterised the Lenten season. He congratulated Christians and all Nigerians, who are alive to witness this year’s Easter, reminding them that, “We are alive today only by God’s grace and favour and not that we are in any way special before the almighty or better than the dead.” The statement reiterated the need for Nigerians to pray continually and work towards peace, stability and progress, noting that peace could only be achieved when Nigerians from across the country imbibe peace by shunning terrorism, banditry and other acts inimical to peaceful coexistence.

House Minority Caucus Urges National Regeneration, Hope The Minority Caucus in the House of Representatives has urged Nigerians to use the occasion of this year’s Easter for spiritual regeneration as well as re-dedicate themselves and pray for God's intervention in the security challenges facing the country. The caucus, in a statement by its Leader, Hon. Ndudi Elumelu, stressed that Easter, which marks resurrection of the Jesus Christ, amply demonstrates that no matter how hopeless a situation appears to be, solution was always found in God’s love and infinite power to save.

Elumelu called on leaders at all levels to jettison every selfish and narrow-minded proclivities and put on the spirit of selflessness, which triumphs over primordial sentiments that breed division, strife and hopelessness among the citizenry. He also called on those behind the acts of terrorism and bloodletting in the country to retrace their steps and know that their actions could not be justified under any guise. He said: ''Indeed, Easter reminds us, as a nation and mankind in general, that all hope is not lost as long as we put our trust and faith in God in all our dealings. The triumphant resurrection of the Lord Jesus Christ from the dead reinforces the victory of life over death, light over darkness, hope over despair, and success over failure in our lives as individuals and a nation.”

Obaseki Preaches Love, Hope and Forgiveness Edo State Governor, Mr. Godwin Obaseki, has charged Christians to imbibe the exemplary life of love, selfless service and forgiveness, which Christ demonstrated in his death and resurrection. Obaseki, in his Easter message, urged the Christian community to emulate Jesus Christ by making sacrifices that would advance the cause of development and reflect on the purpose of Easter and redemption of the nation. The governor stated: “As we Christians celebrate the sacrifice of our Lord Jesus Christ on Calvary and His resurrection, let us use the opportunity to reflect on the purpose of Easter and the redemption of our nation that will happen with selfless service, love for one

another, forgiveness, empathy and hope.” While wishing Edo residents a hitch-free Easter celebration, Governor Obaseki urged them to adhere to the state’s COVID-19 preventive protocols as they go about their activities. “As we mark this day, kindly adhere to the government's directive on good hygiene and safety, including regular washing of hands and use of sanitisers and observe social distancing.”

Sanwo-Olu Wants Nigerians to Emulate Christ Lagos State Governor, Mr. Babajide Sanwo-Olu has felicitated with Nigerians especially, the Christian faithful as they celebrate this year’s Easter, which is the commemoration of the resurrection of Jesus Christ. Governor Sanwo-Olu in his Easter message issued by his Chief Press Secretary, Mr. Gboyega Akosile, noted that, “Good neighbourliness, selflessness and patience were among the several lessons taught and exemplified by Jesus Christ and his resurrection.” Sanwo-Olu reminded Lagosians that the events leading to the death and resurrection of Jesus Christ were epochal in the annals of Christianity and humanity, therefore urging every citizen to reflect on how best to positively impact the lives of friends, colleagues, neighbours and family members. “As we celebrate Easter, I am extending my best wishes to every Nigerian especially, Christians across the country and other parts of the world. The commemoration of Christ’s death and resurrection is a reminder of His virtues of harmony and peaceful coexistence

among humanity. “As we mark this events, I want to urge Christian faithful in the state to continue to live in peace and harmony with believers of other faiths. We should emulate virtues of humility, perseverance and compassion as exemplified by Jesus Christ. “This period offers us an opportunity to rethink our relationships as individuals, as communities and as a nation. The death and resurrection of Jesus Christ signified love, affection and tolerance. It also marked the end of evil and beginning of good deeds.”

Abiodun Asks Nigerians to Embrace Peace, Unity Ogun State Governor, Dapo Abiodun, has called Nigerians especially, residents of the state, to embrace peace, love and unity as the world celebrates Easter. The governor, in his Easter message made available to newsmen in Abeokuta, the Ogun State capital, by his Chief Press Secretary, Kunle Somorin, urged Nigerians to avail themselves with what the resurrection of Jesus Christ symbolises, and live in peace. He noted that the country was going through challenges and implored the people to emulate the love Christ showed while being crucified, in order to move the country forward. According to Abiodun, the resurrection of Jesus had indeed shown that the country has a great hope to rise from the present ashes to a powerful nation. While wishing Christian faithful a wonderful Easter celebration, the governor also charged them to pray for the country to overcome the socioeconomic challenges confronting it.

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NEWS

Police to Investigate CCT Chairman over Alleged Assault on Security Guard Kingsley Nwezeh in Abuja The Federal Capital Territory Police Command said yesterday it had launched an investigation into a case of assault involving the Chairman of the Code of Conduct Tribunal (CCT), Mr. Danladi Umar and a security

guard at the popular Banex Plaza in Wuse 2, Abuja. A statement issued by Police Public Relations Officer, ASP Yusuf Mariam, said the command would be fair and professional in the conduct of the investigation. A viral video on social media had captured the

moment Umar and a security guard were allegedly engaged in a brawl at Banex Shopping Plaza, Wuse 2, Abuja where the CCT Chairman went to make a purchase of some items. The altercation, according to the video, bordered on breach of parking space.

"Following the incident of alleged assault involving the CCT Chairman and a security guard that occurred at Bannex Plaza on Monday March 29th,2021, the command wishes to state categorically that discreet investigation is still on-going. "Hence, the Commissioner

of Police CP Bala Ciroma wishes to reassure members of the public that the command will be professional, fair and thorough in its investigation", it said. The command urged residents to remain calm and allow the law to take its cause.

It was gathered that a trader, Mr. Peter Onyuike, was arrested by the Department of State Services in connection with the incident and handed over to the police. Another trader, Mr. Oyuho Augustine Samuel, is also being investigated for the same incident.

announced a seven-day mourning period for the democracy activist. Okunniyi, while virtually addressing leaders of the June 12 movement yesterday, said Odumakin was one of the fiercest and most prolific comrades of the pro-democracy movement in Nigeria, who spent most of his adult life fighting the cause of a just and equitable Nigeria. He said the late activist deserved to be immortalised. A statement on Saturday by media assistant to Okunniyi, Obafemi Olubori, said, "Odumakin and others in the National Conscience Party (NCP) led by Chief Gani Fawehinmi of blessed memory teamed up with the Campaign for Democracy (CD) led by Dr Beko Ransome Kuti in the 90s to flush military rule out of power. As fate would have it, he met his heartthrob and greatest supporter, Joe Okei, in the cause of that struggle, which led to the restoration of the present democratic rule in Nigeria"

Mike A.A. Ozekhome

ODUMAKIN CONTRACTED COVID-19, RECOVERED, DIES OF LUNG COMPLICATIONS Special Assistant on Media, Kehinde Aderemi, said the late Odumakin was a true Yoruba son, a committed fellow, and the voice of the people, especially, the downtrodden. Adams stated, “We'll all miss his voice. We'll miss his commitment, we'll miss his bravery because the late Yinka Odumakin's fearless image loomed larger than what we can easily forget in a hurry." "He was a phenomenon that spoke truth to power. He cut a picture of an all-rounder, a media personage, an analyst and public commentator that had warmed himself to the hearts of many people."

He Fought for Noble Ideals – Obaseki Edo State Governor Godwin Obaseki stated, "Odumakin, a man of many parts, tirelessly spoke unequivocally for Nigeria's advancement, pursuing causes to open up the civic space and engender community engagement in governance and politics." Obaseki added, "As an activist and politician, he was in a class of his own. He fought for noble ideals; gave himself to the struggle to make Nigeria great and never ran away from the clarion call for national redemption…Odumakin will be missed for his candour, courage and strength of character, which was never in short supply when it mattered the most.”

It’s big loss to Yoruba nation – Oyetola Governor of The State of Osun, Adegboyega Oyetola, called the late activist a unique advocate of justice, fairness, good governance, and a better Nigeria. Oyetola said, "The death of Mr Yinka Odumakin is a great loss to Yorubaland and Nigeria as a whole. His contributions to the enthronement and growth of democracy in the country will never be forgotten.”

He lived good life, fought good ﬁght – Abiodun Ogun State Governor, Prince Dapo Abiodun, said Odumakin was a fearless public commentator who lived a good

life and fought a good fight for Nigeria. In a statement by his Chief Press Secretary, Kunle Somorin, Abiodun said, "For those of us who have followed Odumakin's trajectory in journalism and activism, he lived a good life and fought doggedly to defend the defenceless. He and his wife were always at the forefront to protest against oppressive government policies. "As the spokesperson of the Afenifere, he discharged his duties diligently and defended the cause of the South-west passionately. He never hid his passion for the Yoruba people and was never timid to speak against any policy that would affect the generality of the nation.”

Yinka was a change agent – Obi Peoples Democratic Party (PDP) vice presidential candidate in the 2019 general election, Mr Peter Obi, called Odumakin a change agent. Obi said, however, “I am sure he died a sad man, sadness not in terms of being regretful of his personal life nor the extent of his accomplishments, but in terms of being weighed down, as surely as all patriotic Nigerians are, by the ugly development in Nigeria that has made life seem hopeless.” Lawyer and human rights activist, Chief Mike Ozekhome, in a statement titled, “Yinka Odumakin - The Irrepressible Warrior Goes Home,” recalled his recent engagements with Odumakin on the state of the nation. Ozekhome wrote in the poetic tribute, “And this gadfly and searing pain in successive government’s flesh has gone? Just like that? This pear? This gem of a pan-Nigerian? This Yoruba nationality crusader for self-identity and selfdetermination? This shinny and incandescent example of a genuine comrade and unflagging struggler, who, in his lifetime, inspired a whole new generation of rights crusaders? This bold, fearless, courageous wordsmith, whose pen was mightier than the sword? Good God! Our loss is heavens’ profit. “Our pain is paradise’s gain. Odumakin championed the people’s cause. He fought on behalf of the voiceless and the beleaguered. He was not materially rich. But, he was a

trillionaire in integrity, honour and dignity. His legacies are trailers-load. Yinka was not just an Activist per Excellence; he was an uncommon public Affairs analyst, social critic, politician and political strategist, who shot from all cylinders on matters of national interest. He was fecund cerebral. He walked the talk. He fought wars and battles…He left no stone unturned and no turn unstoned in his desire for a better Nigeria. A Nigeria imbued with mutual respect, ethnic nationalities’ selfdetermination; inter-religious harmony, egalitarianism and social justice.”

He was true federalism apostle – Ibori Former governor of Delta State, Chief James Ibori, described Odumakin as the kind of gadfly any nation would need, saying he was indefatigable in his advocacy for true federalism. In a statement by his media assistant, Tony Eluemunor, Ibori said, “Though Mr. Odumakin was not among my supporters, and our paths rarely crossed, yet, that did not blind me to

the fact that he was gradually becoming a credible voice for true federalism and fiscal restructuring, which Nigeria needs badly. So, I always wished him well. Now, I will miss him very much.”

Jimi Agbaje A former governorship candidate of the PDP in Lagos State, Jimi Agbaje, said, "Nigeria lost a towering patriot in Yinka Odumakin."

Inibehe Efﬁong An activist, Inibehe Effiong, wrote, “Rest in peace Comrade Yinka Odumakin. You followed the path you believed with courage and tenacity. As an activist, you were never afraid of speaking truth to power. Your role as the spokesman of Afenefere will not be forgotten.”

Pro-democracy Movement of Nigeria Pro-democracy Movement of Nigeria mourned Odumakin's demise, calling it a huge loss. Convener of the June 12 Pro Democracy Movement of Nigeria, Olawale Okunniyi,

An Irrepressible Warrior Goes Home -

And this gadfly and searing pain in successive government’s flesh has gone? Just like that? This pear? This gem of a pan-Nigerian? This Yoruba Nationality Crusader for selfidentity and self-determination? This shinny and incandescent example of a genuine Comrade and unflagging struggler, who, in his lifetime, inspired a whole new generation of rights crusaders? This bold, fearless, courageous wordsmith, whose pen was mightier than the sword? Good God! Our loss is heavens’ profit. Our pain is paradise’s gain. Odumakin championed the people’s cause. He fought on behalf of the voiceless and the beleaguered. He was not materially rich. But, he was a trillionaire in integrity, honour and dignity. His legacies are trailers-load. Yinka was not just an Activist per Excellence; he was an uncommon public Affairs analyst, social critic, politician and political strategist, who shot from all cylinders on matters of National interest. He was fecund cerebral. He walked the talk. He fought wars and battles. He won most.

CLASH OF INTERESTS... Enugu State Governor, Rt. Hon. Ifeanyi Ugwuanyi (middle) with the former Transition Committee Chairman, Udi Local Government Area of the state, Hon. Sheddy Ozoene (left) and Dr. Malachy Ochie, during the public presentation of the book, Clash of Interests, written by Ozoene, held at Ingrace Event Centre, Enugu, at the weekend.

SULE CAUTIONS AGAINST REPRISALS OVER MURDER OF HERDERS' LEADER Mohammed Umar, were killed by suspected bandits at Garaku market on Friday night during an attack. The governor, however, gave the caution while speaking to sympathisers, who had thronged the residence of the late state chairman of the MACBAN, Alhaji Mohammed Hussaini. Also, in a statement signed by Governor Sule’s Chief Press Secretary, Ibrahim Addra, the governorpromised to work with security agencies to arrest and prosecute criminal

elements disturbing the peace of the state. According to the statement, Sule spoke at the funeral prayers for Mohammed Hussein and called on those bent on breaching the peace enjoyed in the state to turn a new leaf for the development of the society. He also urged families of the deceased to remain faithful and take solace in God, while assuring that his administration would continue to work hard at ensuring adequate security of lives and property in the

state. Commissioner of Police in the state, Bola Longe, confirmed the incident in a statement signed by the Police Public Relations Officer of the command, ASP Ramhan Nansel. The statement stated: "At about 1930hrs, information was received that gunmen suspected to be Fulani Bandits attacked and killed one Mohammed Hussaini, the Chairman, Miyetti Allah Cattle Breeders Association, Nasarawa State

and Mohammed Umar, the Chairman, Miyetti Allah Cattle Breeders Association, Toto LGA at Garaku market. "Upon receipt of the information, the Commissioner of Police, Bola Longe, swiftly deployed Operation Puff Adder II personnel to the scene, where the two corpses were recovered and taken to the hospital; the corpses deposited at Anthony Memorial Mortuary for post mortem examination after being confirmed dead by a medical doctor."

Narrating how MACBAN chairman was killed, a friend of his, Wasiu Hassan, said they were together in his shop, when they sent him to buy them water. "As I stepped out of my shop, I started hearing sporadic gunshots. So, I have to run for my dear life and before we know what was happening, the gunmen killed my friend and the other person," Hassan said. On his part, one of the sons to the deceased, Kamaludeen Mohammed, said he saw his

father last by 5pm that fateful Friday, when he came back from a journey and dropped them Mango fruits at home. "I was taking my friend on bike to town, when we started hearing gunshots. So I quickly dropped him and rushed back home. Then my mother asked me what was happening and I told her they were robbers. "When she put calls to my father's phone numbers, my father didn't pick. Then shortly a family friend called to tell us that my father was killed."

APRIL 4, 2021 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R

EDITORIAL

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

THE ENDURING MESSAGE OF EASTER It’s time to renew hope and faith in our country

s Christians all over the world today mark Easter, rejoicing over the death and resurrection of Jesus Christ, Nigerians must resolve to imbibe the ideals that speak to the season. With our country increasingly torn apart by hate, violence and all manner of social strains, our streets and alleyways are now overrun by kidnappers, bandits, hired assassins, armed robbers and sundry assortments of trouble makers. More than at any period in our recent history, this Easter season offers a unique opportunity to identify the enduring values on which to build a new order of justice, service, Easter provides peace, respect for a unique human dignity and opportunity mutual understandto interrogate ing. the killings, the Commemorating the death and maiming, the resurrection of Jesus banditry and Christ and the reother forms of demption wrought for bloodletting Christians on the cross while working for of Calvary is signifisolutions to the cant. But the essence of the occasion should not challenges they be limited to adherents present of the faith alone. It is a time for all Nigerians to reflect on what is wrong with us as we witness, almost on a daily basis, a mindless orgy of violence that has put our nation under a serious siege. Easter provides a unique opportunity to interrogate the killings, the maiming, the banditry and other forms of bloodletting while working for solutions to the challenges they present. Underscoring the significance of the season, Primate of the Anglican Church of Australia, Geoffrey Smith, says the world continues to witness the darkness of Covid-19, racism, domestic violence, gender inequality, etc. But Christians, according to Smith, are called to be lights into all these manifestations of darkness. “The death and resurrection of Jesus

Letters to the Editor

is the reason we know that there is an answer to the darkness and brokenness of this world. There is hope and salvation. There is a light that cannot be overcome,” says Smith. This is a message that will serve us in our country.

S U N DAY N E W S PA P E R EDITOR SHAKA MOMODU DEPUTY EDITORS OLAWALE OLALEYE, TOBI SONIYI 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 DIRECTORS ERIC OJEH, PATRICK EIMIUHI ASSOCIATE DIRECTOR 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

igerians are invited to emulate the exemplary life of humility, self-abnegation, forbearance and self-sacrifice of Jesus Christ who submitted himself to death on the Cross. As a people, we must begin to replicate that sort of sacrifice for the common good, which is the true meaning of Easter. For us in Nigeria, especially at a time like this, we need to erect effective bulwarks against the current impulse to violence and unbridled individualism. Those at the helm of affairs should also begin to realise that politics is essentially about rendering service to the people. On a special day such as this, it is important to remember that Christ spent his whole life and ministry with the poor, the weak and the oppressed. He shared their anxieties, their hopes and their aspirations. He fed the hungry from the finest wheat; and he healed the sick, consoled the sorrowful and wept for the dead. These are the attributes worthy of emulation by leaders and indeed all Nigerians as we celebrate Easter. More importantly, the new wave of insecurity and spilling of blood in our country is a further invitation to all compatriots to join hands in building a new civilisation of love that eschews hatred, violence, rancor and acrimony across the divides. While Easter Sunday is important to Christians, its message of salvation through faith is the essence of hope, regardless of one’s religious persuasion. Friday’s death on the cross and today’s resurrection after three days in the grave symbolises for Christians the ultimate victory of life over death. The risen Christ brought to the world hope, faith and love and adherents are enjoined to always seek love. If humanity would only heed that message, this world would be a better place to live. So, on this Easter Sunday, we invite all Nigerians to renew hope and faith in our country while relating with others with love. May Easter awaken in each of us true joy shown in dedicated service and love for our fellow country men and women. We wish all our readers a Happy Easter!

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 (950- 1000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

LEGITIMATE SUCCESS IN NIGERIA IS POSSIBLE

n this first quarter of 2021, six Nigerians have received global recognition for their professional achievements: Faith Odunsi, Davido, Burna Boy, Wizkid, Kelechi Iheanacho and Ngozi Okonjo-Iweala. Their ages range from 15 to 66 years old. What makes it even more remarkable is that these six individuals all spent their formative years in Nigeria. They all grew up here; they ate rice and stew, ate eba and sweated in the Nigerian heat. They don’t have two heads. Some of them came from poverty, some from the middle-class and some from wealth. I want to examine each of their Q1 2021 achievements and mention what it means to Nigerians. Faith Odunsi is the youngest at 15: she won the Global Open Mathematics competition. This wasn’t a fluke. She’s been participating and winning medals in international maths competitions for years. She didn’t cheat; she has the head for

numbers obviously, but she has also stayed up late at night practicing to get good grades in her school work and in maths competitions. She is a fine example to any Nigerian child in primary or secondary school who wants to pursue a career in academia (or who just wants to win cash in international school subject competitions!) Davido appeared in the Hollywood movie Coming 2 America that came out a few weeks ago. Why is this important? The first Coming To America movie is the first Hollywood movie to show black people as royalty. It gave a sense of pride to African-Americans and Africans everywhere that we could live in castles and have generational wealth. It was a positive narrative for us. Davido wasn’t even born when the first movie was made but he was asked to be in it and played himself as the musical entertainment for the

king’s son’s wedding (something he does regularly in real life). Davido appearing in this movie will show any Nigerian musician that they there is no limit to the height their talent and work ethic can take them. Davido has a tremendous work ethic – putting out numerous several singles every year since 2011, featuring on other musicians’ records and signing new talent to his label…it doesn’t stop. Oh, by the way, he got paid $15,000 daily for being on the Coming 2 America set. Have you ever heard of Shotti Gunz? Probably only if you’re an Afrobeats enthusiast! Shotti Gunz was Burna Boy’s stage name before he changed it to Burna Boy. He was Shotti from his mid-teens in secondary school and even when he left these shores for the UK to further his studies. That’s how long he’s been making music. He’s 29 now. In 2012 at the age of 21 he put out the single

Like To Party that propelled him to stardom and now he’s a bonafide superstar – winning a Grammy for his fifth studio album Twice As Tall in the world music category. Burna grew up in Port Harcourt, Rivers state. Humble Kelechi Iheanacho used to call his Manchester City teammates “Uncle” out of respect, coming from Owerri, Imo State. He was 18 years old at the time. After learning European professional top-flight football there for two years, Leicester City bought him for 25 million pounds and just last week his goals against Manchester United made him the highest goal-scoring African in the history of the FA Cup, putting Leicester in the FA Cup semi-final for the first time in 39 years! Wow! Last but not least is Ngozi Okonjo-Iweala, the oldest Nigerian in this story. Before you crucify me that it is rude to mention a lady’s age, permit me to write that I did so to prove a point – which is that it is never too late to go for more! Okonjo-Iweala has had a successful career in multiple lucrative and prestigious roles in Nigeria and the United

States and sits on the boards of companies such as Twitter and Standard Chartered Bank: she could very easily have called it a day with a good CV and directorships to rely on for the rest of her days. But no, she sought the Director General position at the World Trade Organisation in her mid-sixties and got it! This is a lady that spent the first 19 years of her life at Ogwashi-Ukwu, Delta State and Ibadan, Oyo State, before relocating to the other country she calls home, the United States. Okonjo-Iweala has never changed, wearing her ubiquitous geleand traditional Nigerian dress almost everywhere, even amongst world leaders and magnates. Being the best version of herself and wearing her Nigeriannessproudly has got her this far. In conclusion, no one can cheat the process. There is a general tendency in our country to look down on struggle and opt for ease by cutting corners, leading to lawbreaking. Let’s #NGchangethenarrative ––Obinna Inogbo, Lagos.

APRIL 4, 2021 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R

SPECIAL REPORT

TECH, NIGERIA’S NEW OIL (2) SHAPING NIGERIA’S ECONOMY THROUGH INNOVATIVE, DISRUPTIVE IDEAS As emerging technologies continue to drive global economies, Nigerian tech startups, especially those in the financial technology space, are developing disrupting technology solutions and innovative ideas that will help Nigeria drift from oil economy to knowledge-based economy, last week THISDAY ran the first part of the publication profiling techpreneurs. Emma Okonji went to Yaba, the tech hub of the country to interact with some of them, who share their experiences

he world has since shifted from the agrarian revolution to knowledge-based economy driven by technology innovations that are disrupting exiting structures and systems. In Nigeria, financial technology (fintech) players and others in the tech startups space are reshaping the Nigerian economy for global competitiveness in a manner that is bringing convenience to lifestyles, while creating individual and national wealth for the country. Fintech solutions have completely changed the financial services sector by taking financial services from the banking halls to homes and offices of customers, where people can sit in the comfort of their offices and homes to carry out successful financial transactions without going to bank branches. When the founder of Facebook, Mark Zuckerberg visited Nigeria in August 2016, he was amazed about the vigour and entrepreneurial spirit he saw among Nigerian startups and he encouraged them to do more. Today, the world is being ruled by young technocrats who are technology savvy and innovative and Nigeria is not lagging behind as the country’s tech startups and fintech players are making waves both locally and internationally. It is estimated that the fintech players in Nigeria are worth over $10 billion.

THE FUTURE OF FINTECH

In recent times, technology has become the oil that is generating revenue for global economies and fintech is driving the financial services as well as other sectors of the economy such as manufacturing, telecommunications, commerce, sports, health among others. In Nigeria, fintech players have disrupted financial services rendered by banks with their innovative solutions and the future of Fintech in Nigeria looks bright, despite the challenges.

Founder and CEO, TeamApt, TOSIN ENIOLORUNDA Founder and CEO of TeamApt, Mr. Tosin Eniolorunda, who spoke with THISDAY on the future of fintech in Nigeria, said the future remains bright for Nigerian fintech players. TeamApt provides financial technology solutions and infrastructure for underserved customers and businesses in emerging and frontier markets. According to him, people find it easier, faster and cheaper to carry out digital banking transactions from mobile devices, which makes the services of fintech players valid and acceptable to many. “The digital trend in the financial services sector, makes financial transactions easier and cheaper for people, and fintechs are

driving that revolution. Nigerian fintechs are building the economics of scale in the financial sector by expanding their solutions and services to outside of the country,” Eniolorunda said. He explained that TeamApt had been involved in developing digital banking solutions that have been driving the financial devices sector since 2016. Founder, PhastMoney, Mr. Dotun Adefioye, whose company plays in the lending space of the fintech sub-sector said his firm has developed solutions that address unique approach to lending and growing the finances of Small and Medium Size (SME) companies in Nigeria. “Fintech community, especially the payment industry, is making remarkable progress, and at the same time driving the nation’s economy big time,” Adefioye said. Most of them are being acquired for huge sums of money, running into billions of dollars, while some go into merger to form a robust and viable Fintech company. To the Managing Partner, Pelse Consulting, Mr. Boboye Oluwafemi, who runs a fintech, technology has made the world a global village. He said any company that would succeed, must embrace technology and infuse technology into the business. According to him, technology would reduce overhead cost and would help businesses to scale fast. It is the same technology that is driving fintech businesses all over the world and Nigerian fintech companies are taking advantage of the technology to develop innovative solutions and creating ideas that are driving development in the country and beyond, Oluwafemi said. Founder of Interswitch, a fintech company that plays in the payment space, Mr. Mitchell Elegbe said opportunities abound for fintech players, and they do not need big capital to begin. “It’s about a knowledge-based economy that requires skills and little capital that grows into large financial base over short period of time,” he added.

He said fintech is only a payment aspect of the general startup ecosystem, since diversification in the startup ecosystem has led to the development of solutions that are addressing challenges in sectors of the economy, using the same technology skill in different ways.

DEEPENING FINANCIAL INCLUSION

Fintechs are also playing key roles in promoting financial inclusion in Nigeria, through tailor- made solutions targeted at the small businesses, the unbanked and underbanked communities, with a view to offering access to financial services in the country. Eniolorunda of TeamApt said one of the biggest challenges of financial inclusion, had been the inability of those at the lower cadre to open a bank account because of their minimal earnings and savings. He, however, said the solutions developed by TeamApt, make it easy for low income earners to save with banks through money agents and grow their savings with time, with visiting the bank branches to open an account. “The first step to improve financial inclusion, is to provide access to the unbanked and underbanked communities and that is what we have done with our solution at TeamApt,” he explained. To Oluwafemi, his company provides financial services to small businesses, thereby giving them access to financial inclusion. “With P-Connect, we are able to create community platform where SME businesses leverage to carry out financial transactions. With the solution, we provide investment and loan opportunities for small businesses and over the years, the platform has supported several SMEs and has helped them remained in businesses in spite of challenges,” Oluwafemi said. To Adefioye, the vision of PhastMoney is to change the face of financial services in Nigeria. “For us in the Fintech space, we are working towards reducing lending time

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SHAPING NIGERIA’S ECONOMY THROUGH INNOVATIVE, DISRUPTIVE IDEAS from two month to three business days in the digital banking space which is the future of banking. “That timing is key for most businesses and we have also introduced simple application processes for financial transactions. “The essence is about partnering SMEs and helping them grow their businesses, using simple technology solutions,” Adefioye said.

STARTUPS’ CAPABILITIES Nigerian startups over the years, have shown dexterity and capabilities in developing solutions that address key challenges in various sectors of the economy, cutting across, health, telecoms, agriculture, manufacturing, education, sports, among others. Eniolorunda was of the view that Nigeria has entrepreneurial skills and capacity to develop solutions that address identifiable societal challenges. Elegbe of Interswitch, however said every startup must understand the risk of business owners and develop solutions with good resilience to prevent online attacks, if the business is exposed to online activities. “Fintech players must factor in what it takes cyber criminals to steal or corrupt data, while designing a solution for online businesses. Again having good education of the market is key before developing solution to address challenges of the market. The reason being that if the business is success, it will attract more people and more competitors,” Elegbe said.

BUILDING SUCCESSFUL STARTUPS

Industry players are of the view that building a successful startups has to do with determination, timing, skills and collaboration. According to Eniolorunda, building a successful startups would entail adequate timing and team collaboration. We have considerable flow of infrastructure and data availability, but the ability to developing solutions that are timely in addressing societal issues, goes a long way to make a successful startup, Eniolorunda said. For Elegbe of Interswitch, in order to build a successful startup, the players must understand the industry they are providing solutions for and they must ask the right questions that will give them a clearer view of what they want to do. According to him, having an idea about the population of Nigeria, for instance, is not enough information that will help any startup to develop the right solutions for Nigerians. The startup must ask further relevant questions about the different demographics that make up the total population of Nigeria like the number of old people, youths, children, men and women, in other to have a better understanding of the type of solutions that will address the challenges of the different demographics of people in the country. He said a successful startup must understand the actual challenges of the people and develop solutions that will address specify challenges and the solution must be affordable.

FUNDING

Although Nigerian startups have the capability and innovative ideas in developing workable solutions and ideas that are driven by technology, but most often, they are faced with the challenge of funding, as they barely have seed funding from local venture capitalists and angel investors. Most of their funding come from foreign venture capitalists and angel investors who are always attracted to their business ideas. Speaking on the challenge of funding, Adefioye said one major reason why most startups do not have good funding is because most of them do not have good financial books and appropriate accounting records. He cited an International Finance Corporation (IFC) report that states that there is $158 billion credit gap that exits within the Nigerian SME space. “Investors and banks wants to be sure that the solution is commercially viable, with the capacity to pay back whatever amount is invested in the solution or business. “One of the funding challenges of SMEs, which cut across tech startups, is that they do not have proper financial books to keep records of transactions, and it is the reason why local banks do not invest in SMEs

Fintech players brainstorming in TeamApt technology space in Lagos

Founder, PhastMoney, DOTUN ADEFIOYE and startups,” Adefioye said. Eniolorunda of TeamApt, who also acknowledged the challenges of funding, attributed it to two factors. These he described as fear of immediate returns on investment and lack of understanding on the part of investors about the risks involved in startup companies. He explained that local investors are more interested in immediate returns on their investment rather than investing in long-term ventures. He, however said most Nigerian startups get foreign funding because the foreign investors understand better the risk part of the business and they are more money abroad than local. He also said getting funding outside, boosts the profile of a startup.

COLLABORATION Collaboration is key and industry players are of the view that startups need to collaborate with each other to develop robust solution with high commercial value. There is also need for collaboration between fintechs and the industry regulator in order to provide a favourable work environment that will not be scuttled by

Co-founder and CEO, Appzone, OBI EMETAROM harsh regulatory policies implementation. Adefioye said there would be need for collaboration between digital banks being sort after by fintechs and the traditional commercial banks, because their services would be complementary, for improved customer experience. He said there has been mergers and acquisitions in the fintech space and there would be more of that going forward, through workable collaboration among startups.

THE FUTURE OF FINTECH Giving insight to the future of Fintech in Nigeria, the Co-founder and CEO of Appzone, a Fintech company, Mr. Obi Emetarom, said: “Fintech is transforming the way financial services work in Nigeria and is expected to completely replace brick and mortar operations within five to ten years. Fintech platforms will significantly reduce the cost of delivering financial services to the extent that micro, consumer and SME customer segments that were previously unprofitable to service will become attractive targets for innovative new offerings.” According to him, “Consequently, access to finance will become ubiquitous, consumer

spending power will increase through access to loans, velocity of money will accelerate through digital payments and idle funds within the economy will be captured more effectively through savings. The increased efficiency in deployment of latent wealth towards productive activities will inject new funds into the productive economy and effectively stimulate economic growth.”

BUILDING SUCCESSFUL STARTUPS

Emetarom of Appzone, said: “To be successful, a startup has to find a pressing need amongst a large enough target customer base and develop the competences to meet such need better than any other organization in a profitable way. Achieving this goal requires a combination of dogged relentlessness, flexibility to adjust/iterate strategy as much as required, and openness to learn from the business environment very quickly. It also requires finding a small highly talented core team and selling them a compelling vision. To become successful, a start-up has to find very creative ways to get maximum value from extremely limited resources while managing cash wisely to ensure that it stays solvent.”

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SPECIAL REPORT

20 TECH ENTREPRENEURS In continuation of its series on Nigeria’s growing fintech sector, THISDAY highlights 20 more leading personalities in the sector. writes Obinna Chima

BOLAJI AKINBORO

NONSO OKPALA

EKECHI NWOKAH

CHIOMA NKECHIKA

BOLAJI AKINBORO

Migo, a US-based fintech start-up. In 2019, Migo closed a $20-million Series-B round led by Brazil-focused venture capital (VC) firm Valor Capital Group. Migo’s platform enables companies to offer credit to their customers, augmenting traditional bank and payment card infrastructure. The startup was founded in 2014 by a Nigerian team. Nwokah is a former computer scientist who previously served at Amazon Web Service’s A9.

with a mission to provide technology that empowers people with unlimited access to financial services.

0.5 per cent of Nigerian graduates are being recruited and trained into world class software engineers to fuel the growth of the African technology ecosystem. Decagon’s engineers now work for companies like Carbon, Paga, Access Bank, Sterling, Union Bank, Terragon, and Interswitch. US-based companies like Varuna which was recently recognised by Google also use Decagon engineers as does the largest job board in the world based in Austin, Texas. Nwobi has been one of the pioneers of the growth of the tech industry. As far back as 2001, he led a team of young Nigerians to launch Nigeria’s first mobile internet service in partnership with MTN as well as the first mobile banking service in Nigeria in 2003. Nwobi is also co-founder of Cheki which became Africa’s largest online cars marketplace with operations in Nigeria, Ghana, Kenya and Uganda. Other companies he has invested in include Babybliss, Bamboo, Moneymie and DavtonLearn.

kinboro is the Chairman of the Board at Voriancorelli. Voriancorelli is a marketplace company that provides a platform to match buyers, sellers, commodity aggregators, logistics partners, financiers and food processors to ensure the economic wellbeing of all stakeholders. Akinboro is also the CoFounder of Cellulant Nigeria Limited. According to the Chairman, Voriancorelli was designed to connect businesses with opportunities that would help them grow thereby solving the problem of market linkages.

NONSO OKPALA Okpala is the Group Managing Director/CEO at VFD Group Plc, a proprietary investment firm in Nigeria with interests in foreign exchange, debt investment, international remittance, real estate and payment businesses. Until recently, he was the CFO at Heirs Holdings, an African proprietary investment company. Okpala began his career in 2004 with KPMG where he had the opportunity to work with Nigeria’s top tier banks and other financial institutions. VFD’s flagship solution is its ‘V’ bank app which was launched in March 2020, as a digital bank. In the past 10 months, the app has acquired more than 40 million users and its users are mostly between age 21 and 45 years, spread across Nigeria. Its active users are mostly in Lagos, Anambra, Abuja, Port Harcourt and Enugu.

EKECHI NWOKAH Nwokah is the CEO and Co-founder at

EMEKA EMETAROM

CHIOMA NKECHIKA Nkechika is the CEO CoralPay Technology Limited.CoralPay is a CBN-licensed payment solution service provider (PSSP), a non-bank acquirer and a switching company operating in Nigeria since 2004.CoralPay in 2019, deployed the first interoperable USSD and mobile payment platform to Nigerians desirous of a seamless and secure payment solution. The solution allows for enhanced interoperability amongst stakeholders in the payment ecosystem. It allows customers using the USSD short codes of their respective banks alongside their Mobile Apps to pay for goods and services directly from their bank accounts and wallets.

EMEKA EMETAROM Emetarom is the Co-Founder and Executive Director at AppZone. He has immense exposure in business management as well as the IT industry, at various levels. His passion for IT resulted in his foray into the electronic prepaid airtime distribution. In 2006, he championed the development of Nigeria’s premier mobile airtime distribution service.AppZone is Africa’s provider of home-grown banking and payment solutions

TOSIN ENIOLORUNDA

TOSIN ENIOLORUNDA Eniolorunda is the founder and CEO of TeamApt, a financial software company focused on building solutions and running infrastructure for African banks, businesses, and people to manage their money.Founded in 2015 with the goal of creating financial solutions for optimising partner banks and financial institutions’ operations. It also focuses on how to improve the experiences of customers and businesses. TeamApt presently services over 26 financial institutions and its products have helped optimise core bank back-office operations.

OLUSEUN ONIGBINDE Onigbinde is the Co-Founder of BudgIT. He has worked on several projects funded by MacArthur Foundation, Ford FounDFID, Open Society, OXFAM and Omidyar Network. BudgIT is a Nigerian civic organisation that applies technology for citizen engagement with institutional improvement to facilitate societal change. The company launched operations in Lagos in 2011 to provide social advocacy using technology. In 2014, it developed Tracka, to track the implementation of government projects in various community to ensure service delivery. Tracka allows Nigerians to post pictures of developmental projects in their communities to communicate with their elected representatives, and demand completion of the government projects in their respective neighborhoods.

CHIKA NWOBI

Nwobi is founder of Decagon where the top

OLUSEUN ONIGBINDE

KELECHI EKEGHE Ekeghe is the CEO at Options.ng, Nigeria’s free, independent online comparison platform for products across industries and providers. Ekeghe, who until last year was a staff of Union Bank, joined the company to help build the business and scale the firm along the lines of its growth objectives. Ekeghe is a seasoned digital business leader with a deep understanding of digital marketing and transformation strategies. He has over 15 years of experience across digital businesses, the banking sector and has pioneered start-ups in e-Commerce as well as consulting. He is also an experienced brand expert and a capacity-building coach. He started his career in business development at Connectnigeria.

CHIKA NWOBI

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20 TECH ENTREPRENEURS

KELECHI EKEGHE com, before he moved to Jobberman.com, then to Fidelity Bank Plc where he pioneered the bank’s digital marketing function and later to Union Bank where he led the bank’s digital platforms’ team.

TITI ADEOYE Adeoye is the Founder and Chief Investment Officer of Sankore, a Wealth Management firm that runs Nigeria’s only “Wealth as a Service” platform offering investment strategy, products, advice and technology to the clients of Private Banks and other financial institutions.Her skills in investment strategy were honed at firms like Goldman Sachs in New York where she was able to learn the intricacies of asset allocation and portfolio optimisation. Her area of expertise is strategies for the creation, growth and preservation of individual or family wealth in Africa with a focus on alternative asset classes like venture capital, real estate and agriculture due to the higher potential for financial and social returns.

AKIN JONES Jones is the Co-founder of Aella Credit. Started in 2015, the US-incorporated company was launched to simplify and open up financial services to support financial inclusion in emerging markets. The startup operates in two countries Nigeria and the Philippines. Aella’s main offering is lending. It provides quick loans directly to consumers and uses proprietary information and information from credit bureaus to gauge the creditworthiness of borrowers. It also offers a service called “Network loans” where companies can sign up on Aella and allow their employees to borrow loans on the platform. In 2020, it raised a new round of funding to enable it scale its financial solutions. The micro-lending company had announced a $10 million debt funding from Singapore-based HQ Financial Group (HQF).

EMEKA ILOELUNACHI

Iloelunachi is the MD/CEO at FastCredit Limited. His career spanned from Branch and Regional Operation Services, Product Management, Business Banking and Ebusiness as the Group Head e-Channel Services Operations in Daimond Bank. Consequnetly, he joined Page International Financial Services (PIFSL) in 2015 as Head Digital Business, and managed the Retail lending before rising to Vice President. Fast Credit Limited was established in 2014 to operate as a finance company under the Bank and Other Financial Act, in line with Central Bank of Nigeria regulations to carry out the business of financing personal, business and emergency loans as well as create a platform for the investment of wholesale funds via investment notes and borrowings from individual and institutions for good returns and fund safety.

ABBEY WEMIMO

TITI ADEOYE

AKIN JONES

IBIKUNLE ADEOLUWA

working capital to Nigerian SMEs according to their individual requirements and suited to their business and finance needs.

Adeoluwa is the Co-founder of AirSmat, a software company founded on the belief that drones will shape the future. In 2020, AirSmat launched a revolutionary Artificial Intelligence (AI) powered software platform to help farm owners and other corporate organisations have access to actionable intelligence that will help drive efficiency in cost savings, enhance their business operations and improve their profitability. The company had disclosed that the products, SmatCrows, SmatAI, SmatSat and SmatMapper, were the first of its kind that would enable predicable improved crop yield for farm corporations. It explained that its innovation was born out of the quest to use technology to improve modern day farming with seamless data gathering.

NNAZILIM EGBUONU Egbuonu is the co-founder of Mint Digital Bank. Mint Digital Bank, a subsidiary of Finex Microfinance Bank. The bank offers Africans a new way to carry out core banking transactions, through application and web technology. He began his entrepreneurial journey by co-founding an inter-state bus aggregation platform called ‘Oya,’ later acquired by Wakanow.com. After he existed Oya, he co-founded a leading air travel aggregator company called Travelbeta.com with over $40 million in transaction volume since inception. He graduated from University of Nigeria Nsukka, where I obtained a degree in Biochemistry.

NELSON OCHONOGOR

HUSSEIN AZEEZ

Ochonogor is the Co-founder/Chief Operating Officer, GetRates, a one-stop source of credible investment information that promotes investor education and enlightenment. The firm is a financial product marketplace for retail investors in Nigeria. Ochonogor’s work experience span through banking and the fintech industry with critical roles in Business Development, Product conceptualisation/ development, innovations and strategy, electronic/digital banking and project management at reputable institutions such as First City Monument Bank (FCMB), Heritage Bank, Access Bank and ATM Consortium.

Azeez is the founder of Paychange, a mobile payment platform with over 7,000 users. He’s a will driven entrepreneur with an interest in economic prosperity and poverty reduction. He is proficient in product/services development and implementation strategies. He has previously founded two tech startups. Paychange is a web and mobile platform designed to enable cashless payments between merchants and customers through USSD, QR technology, and a unique identification and wallet system.

JUSTICE IRIVWIERI Irivwieri is the founder of Paygital founded in 2019 as a payment gateway that helps business process secured online and offline transactions. It is a new gen (escrow) payment system, which permits satisfactory buying and selling within and outside eCommerce market activities. Paygital is a chat market Escrow payment processor for buyers and sellers on social media platforms. This is as a result of the gradual shift of interest from online shopping platform to buying and selling on Instagram, Facebook, twitter, whatsapp amongst others.

EMEKA ILOELUNACHI

IBIKUNLE ADEOLUWA

NELSON OCHONOGOR

BOSUN TIJANI Tijani is a Nigerian-British entrepreneur and co-founder and CEO of Co-Creation Hub, a pan-African innovation enabler that works at the forefront of accelerating the application of innovation and social capital for a better society. CcHUB which stands at the forefront of the fastest moving technology industry trends has maintained its focus of shaping the economy and the future of Africa.The firm is dedicated to accelerating the application of social capital and technology for economic prosperity.

ABBEY WEMIMO

JUSTICE IRIVWIERI

Oyediran is the Country Managing Director, Lendigo. He has spent over 12-years creating significant economic value that runs into tens of millions of dollars for the four financial service companies he has worked for. His core expertise is in the art of deal-making, developing and executing growth plans, capital raising, managing P&L, and leading teams to greater productivity and overall improved performance year on year. Lendigo is a financial technology firm dedicated to SMEs through technology and innovative practices. It provides easy and fast access to

Wemimo is the co-founder of Esusu, a fintech startup that helps individuals save money and build credit. In 2019, the company raised $1.6 million to scale, expand market share, and focus on product development. The seed round was led by Acumen Fund with participation from Sinai Ventures, Kleiner Perkins, Katapult Accelerator, Plug and Play Tech Center, Global Good Fund, Temerity Capital Partners, and prominent angel investors. Esusu serves lower-income and historically credit-challenged consumers, while simultaneously empowering these consumers with credit-building tools that can transform their access to wealth-building – rather than predatory products and services.

SEUN OYEDIRAN

BOSUN TIJANI

HUSSEIN AZEEZ

NNAZILIM EGBUONU

SEUN OYEDIRAN

APRIL 4, 2021 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R

FINTECH (2)

SPECIAL REPORT

President Muhammadu Buhari

Isa Ali Pantami, Minister of Communications and Digital Economy

Unlocking Opportunities in Fintechs Olusegun Adeniyi and Obinna Chima

espite the increasing activities of financial technology (fintech) companies in the country, there is need for the federal and state governments to focus on developing policies that would boost contribution of the sector to the country’s Gross Domestic Product (GDP) significantly. The sector can unlock economic benefit by driving increased productivity, capital, and labor hours through digitisation of financial services. Additionally, it will play a leading role in the federal government’s much-desired drive towards economic diversification. While fintech investments in Nigeria grew to approximately $460 million in 2019, the majority of which was from external investors, this was only a small fraction of the $36 billion invested in fintech globally, McKinsey & Company, stated in a report which focused on fintechs in Nigeria. The global management consultancy Services Company pointed out that with the right support, fintechs could create impact in three broad dimensions: through stimulating economic activity, by creating a multiplier effect, and by driving progress towards development goals. “Economic impact will primarily come from expanding revenue pools and attracting foreign direct investment to the country. The sector can unlock economic benefit by driving increased productivity, capital, and labor hours through digitization of financial services. “Increased fintech activity could also indirectly grow the digital economy by, for

example, providing business-to-consumer (B2C) marketplace tools such as payment integration on social media platforms, and further enabling the Nigerian e-commerce industry. “And finally, fintech can support Nigeria’s human capital development by driving financial inclusion and literacy through the provision of accessible and affordable financial products that are innovative and cater to the needs of unbanked and underserved segments of the population across culture, gender, and geography. “Significant opportunities also exist for fintech to enable solutions within education and health to address societal challenges such as student financing, digital learning, and affordable health insurance,” McKinsey added. One of the key factors preventing the sector from achieving its full potential has been that, to date, fintechs have had limited appetite to develop commercially viable use cases to serve the mass-market segment owing to the significant investment required. But this, according to McKinsey is changing as a result of the impact of the COVID-19. With consumers turning to digital options during lockdown and government using digital channels to roll out aid packages, it became clear that there was an untapped opportunity to convert the under-banked and unbanked to fintech solutions and unlock the economic and social benefits that this promises. “Digital financial services have the potential to unlock significant benefits for Nigeria’s economy and society. There are multiple opportunities across product ranges and

customer segments, especially if the sector can find ways to move beyond addressing known pain points of the banked population and expand the banking pool. “The COVID-19 crisis has heightened the challenges. The investment required to foster innovation in order to meet these challenges and realize fintech’s potential in the longer term could be significant, but positive results could be achieved through collaborative action. “If all stakeholders in the fintech ecosystem, including government regulators, infrastructure players, private organisations, and providers of capital work together, the country can start to unlock the potential of its fintech assets,” it added. In his opinion, the Head of Consulting at Lagos-based pan-African rating agency, Agusto Consulting, Mr. Jimi Ogbobine, noted that one of the ways the government could stimulate growth in the fintech space was by firstly avoiding knee-jerked regulations that could distort the current strong growth trajectory trend. Speaking in a chat with THISDAY, he said government’s support for fintechs should be largely concentrated on resolving structural bottlenecks that could inhibit the growth of the industry. “One of the major structural bottlenecks will be the internet penetration levels across the country. And that’s why the current positive disposition of states to reducing taxes and levies on the right of way (RoW) needs to be retained. “Secondly, the government needs to concentrate efforts on streamlining and improving efficiencies around the national identity management processes. “With more Nigerians registered on the

national identity database, fintechs will have a more dependable information infrastructure to access for financial innovations,” Ogbobine explained. Similarly, the International Monetary Fund (IMF), had in a report stated that fintechs could be key to structural transformation in Nigeria and other African countries. It noted that innovation was allowing Africans to move up the financial services value chain.

HOW DIFFERENT COUNTRIES HANDLE TECH STARTUPS UNITED KINGDOM:

The UK government has taken proactive steps to boost the success rate of UK tech startups, while developing an ecosystem (across public and private sectors) that is conducive of innovation. In terms of funding, there are a range of government grants offered by the Department for Business, Energy & Industrial Strategy. The Startup Loans scheme is another initiative that also offers loans of up to £25,000 at a fixed interest rate of 6% per annum for new business ideas — this scheme provides advice on writing up business plans, along with free mentoring from business experts. Innovate UK, among others, presents another funding option. Startups like Divido, have experienced the benefits of these type of initiatives firsthand. The CEO and co-founder of the company, Christer Holloman, explained: “We set Divido up back in 2014, and in 2015 we were lucky enough to receive an official government backing in the form of an Innovate UK grant to further develop our platform. The support from the Innovate UK allowed

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ APRIL 4, 2021

FINTECH (2)

SPECIAL REPORT

UNLOCKING OPPORTUNITIES IN FINTECHS

CHRISTER HOLLOMAN, CEO, Divido, United Kingdom

us as a business to not only gain some needed investment but it also provided our business with that added validation that only a government can give. “This is something that the UK government needs to ensure that it continues doing, particularly in the current political and economic Brexit climate. The UK fintech market has always been ahead of the curve, and now other countries have caught on and are playing catch-up so they’re getting more attention. “As long as the government continues to reinforce its commitment to this sector through different funding initiatives and events, then I expect the UK and London to continue on its path to being the ultimate fintech capital of the world.” Also, Innovate UK is part of UK Research and Innovation, a non-departmental public body funded by a grant-in-aid from the UK government. It drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas, including those from the UK’s world-class research base.

KENYA:

Kenya, in particular its commercial and financial hub of Nairobi, is a major player generally from an economic point of view, not just in East Africa, but the African continent as a whole. Dubbed as “Silicon Savannah,” Nairobi has a strong fintech and wider tech and financial services ecosystem. As reported by The FinTech Times in September, the Kenyan parliament has published a Startup Bill, whereby the Kenyan government is aiming to develop a number of incentives for startups. This is in addition to having a protection for intellectual property among several interesting provisions. The Startup Bill 2020 provides a framework for the development of innovative entrepreneurship, establishing incubation hubs, and building a network of global and regional investors. At present, as what the bill highlights, Kenya has some significant successes in the fintech and wider tech space. The examples highlighted in the bill included, first, Cellulant. They have developed a digital payment platform that offers flexible payment options for consumers and businesses, and works with financial institutions, governments, and mobile network operators to increase transparency and expand their reach in Africa. Second, Sendy is a logistics platform that provides drivers to fulfil customers’ logistics needs from motorcycle deliveries to trucks; they started operating in Kenya before Uber entered. Third, Twiga foods sources quality produce from thousands of farmers around Kenya, providing them with a ready guaranteed market; this is done with their mobile-based

PETER NJONJO, CEO, Twiga Foods, Kenya

supply platform. Fourth, M-Kopa provides “pay-as-you-go” energy services for offgrid customers across emerging markets; this is done with their patented technology platform that combines embedded GSM + mobile payments. The company had already connected 600,000 homes across Africa, providing 75 million hours of kerosene-free lighting each month. The bill highlights that in the African continent, Tunisia and Senegal have noticed the potential of startups in their countries to support rapid social-economic development, which has resulted in them enacting their own laws to recognise, support and regulate start-ups activities. The Kenyan Startup Bill 2020 then justifies its own rationale.

DUBAI:

The Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, in cooperation with Dubai Technology Entrepreneur Campus (Dtec), recently released the Dubai Startup Report 2021, an informative guide on Dubai’s startup ecosystem for international startups and investors that are keen on exploring business opportunities in the emirate. The report brings together the hands-on experience of Dubai Startup Hub and Dtec serving a community of more than 10,000 founders and investors, and the public policy and legal perspective on incentives and schemes available in the Emirate. Featured in the report are several businessfriendly measures introduced in recent years to support business activity, boost foreign investment and attract promising companies and investors from around the world such as several stimulus packages, the golden card permanent residency system for expat investors, a 5-year visa for entrepreneurs, a virtual working programme and a decision to grant UAE citizenship to select foreigners. The report highlights various programmes, resources and value-added services available in Dubai that are designed to support the growth of startups and connect them to new business opportunities. Dubai Startup Hub, an initiative of Dubai Chamber, along with Dtec are among the most active startup ecosystem players in the emirate. Among other topics of interest covered in the report are ease of doing business, economic competitiveness, government initiatives supporting startup growth, venture capital activity, free zones and the services they offer, access to finance, investment incentives and availability of skilled talent, in addition to useful tips on setting up a company in Dubai. President and CEO of Dubai Chamber, Hamad Buamim, described the report as a valuable and reliable resource for startups and investors in other markets as it provides a wealth of practical information about Dubai’s dynamic and fast-growing startup ecosystem.

HAMAD BUAMIM, President and CEO, Dubai Chamber

He added that Dubai Chamber supports the growth of startups in Dubai through its entrepreneurship initiative Dubai Startup Hub by providing startup members access to resources, tools, knowledge and market opportunities that can help them thrive and grow. Vice Chairman and CEO of the Dubai Silicon Oasis Authority (DSOA), Dr Mohammed Al Zarooni, noted that Dubai’s competitiveness attracts innovative thinkers, positioning it as a preferred destination for entrepreneurs in diverse industries, especially those in technology and fourth industrial revolution applications. These sectors have recently surged, given the measures in response to Covid-19. Al Zarooni said: “Start-ups are a pillar of a flexible economic system that is agile enough to quickly adapt to new developments and achieve sustainable growth. The facilities that Dubai offers to this dynamic segment, through a supportive ecosystem and an incubator for innovation, helps them grow and achieve strategic business objectives. “The Dubai Technology Entrepreneur Campus at Dubai Silicon Oasis, which is home to hundreds of technology start-ups, is an exemplary model of the unique ecosystem that Dubai and the wider UAE offers.”

ABU DHABI:

The Abu Dhabi Investment Office (ADIO) is the central government hub supporting investment in the emirate of Abu Dhabi. Its vision is to develop a thriving, knowledgeeconomy for Abu Dhabi that is competitive and diverse, whilst attracting FDI. How? The entity cites the UAE’s strategic location between East and West, its high ranking in regional reports relating to the ‘Ease of Doing Business’, plus its positioning on global competitiveness and innovation indexes. Dr. Tariq Bin Hendi, is an EmiratiAmerican, London-trained economist who hopes to expand Abu Dhabi’s economy as the Director-General and CEO of the Abu Dhabi Investment Office. The former Emirates NBD executive is interested in cultivating a viable ecosystem for SMEs and startups in the UAE’s capital. With a forward-thinking approach, Bin Hendi links diverse value systems across cultures to attract foreign investment. Ghadan 21 is a $13 billion accelerator program looking to support SMEs in the country. When Inspire Middle East asked about the impact of Coronavirus on Ghadan 21, Bin Hendi said adaptability is key, with Ghadan 21 being both a proactive and reactive program. The economist maintained that by adapting policy and with resources such as sovereign wealth funds, support from larger government entities, as well as the private sector, SMEs have the backing

support to develop. The fostering of innovation in the capital has seen the creation of Hub71, an international tech base, which brings together startups, top VC funds, and investors. ADIO has also encouraged innovators to flourish in the Agricultural Technology (AgTech) space, offering incentive programs, including financial incentives, to companies looking to relocate or expand in Abu Dhabi. Hendi believes that, “Every company is a technology company or needs to become a technology company,” narrowing the ADIO’s focus on preparing companies to pivot. “Today what we’re seeing with companies is that if they don’t adapt technology, they’re left behind,” Bin Hendi told Euronews. “But, if they adopt the wrong type of technology or don’t get the support that they require, particularly in the micro and the SME space, then someone needs to be there to support them, So we provide those financial incentives, we provide the access and we provide the growth.” ADIO is also focused on building bilateral ties in the near and long-term, which involves opening international offices to support global companies looking to establish and expand their operations in the capital.

SOUTH AFRICA:

Entrepreneurs for Entrepreneurs (E4E) Africa, an entrepreneur-led South African venture capital (VC) firm, recently launched its Section 12J offering. Disrupt Africa reported last year on the launch of E4E, which is backed by a founding investment from the SA SME Fund and has a first close of R135-million (US$8.1 million). In addition to its regular fund, E4E has now launched a Section 12J facility, which grants investors a 100 per cent write-off for their South African taxes on any investment made in the Section 12J fund. “The 12J incentive offers South Africans, people or companies, a unique opportunity to invest in high growth, early-stage businesses in a way that lowers risk and increases potential returns through the tax saving – while helping build a better South Africa,” said E4E partner Bas Hochstenbach. Since its mid-2020 launch, E4E has created a significantly-sized fund, investing in a variety of companies that are innovating across key sectors of the South African economy. These include leading township food solutions enterprise YeboFresh, data annotation and labelling startup Enlabeler, and e-health startup Vula Mobile. “With our proven track record as entrepreneurs and investors, we believe that E4E is uniquely placed to ensure that anyone using our 12J facility has the best possible chance of achieving real returns,” said E4E managing partner Philani Sangweni. “This is only advanced by the fact that we

APRIL 4, 2021 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R

FINTECH (2)

SPECIAL REPORT

UNLOCKING OPPORTUNITIES IN FINTECHS

TARIQ BIN HENDI,DG/CEO, Abu Dhabi Investment Office

invest in innovation-led, transformative businesses that have the potential to scale globally.”

EGYPT

In Egypt, the Information Technology Industry Development Agency (ITIDA) has also launched a new round of its annual “Export IT” programme. The programme was introduced as a coping mechanism for the unprecedented challenges caused by the global coronavirus (COVID-19) pandemic. The agency introduced the cash incentive to provide economic relief for small businesses and tech startups, and to boost exports amid the pandemic. ITIDA CEO, Amr Mahfouz highlighted that the approved stimulus comes as part of the agency’s relief plan to curb the economic impact of COVID-19, and ensures more aid for small businesses and local IT companies. Mahfouz, underlined that the export incentive package is to encourage the local companies to boost exports, secure the position of Egyptian IT products in existing markets, and increase market penetration capabilities. The programme deals with local ICT companies which are more than 50% owned by Egyptians, headquartered in Egypt, and are exporting ICT services, IT-enabled services such as call centre services, consultation and training services related to the IT industry. ITIDA has excluded Egyptian IT startups founded in 2016 or later with the “headquarters in Egypt” condition. According to the programme’s terms and conditions, approved companies receive direct cash incentives of up to 10 per cent, and with a maximum limit of 20 per cent of value-added exports based on the company size.

SPAIN

There’s money on the table too: Spain will be routing a portion of the “Next Generation EU” coronavirus recovery funding it receives from the pan-EU pot into this “entrepreneurial” push. “Specifically, for 2021, the budget assigned to the different goals of the strategy — we have more than €1.5 billion for the main measures that we want to start setting up. And for the period 2023 it’s over €4.5 billion dedicated to the rest of the measures. So basically between 2021 and 2023 we will be setting the basis/foundations of the Spain entrepreneurial nation,” says Polo. Execution of the strategy will be down to the relevant ministries of government — who will be enacting projects and passing legislation, as needed — but Polo’s department is there to “guide and

PHILANI SANGWENI, E4E South Africa

accompany” the various arms and branches of government on that journey; aka “to help make things happen” with a startup hat on. The national strategy envisages entrepreneurship/startup innovation as the driving force at the top of a pyramid that sits atop existing sectors of the Spanish economy — “spearheading the innovative system that we want to generate”, as Polo puts it. “We are not only focusing on innovative entrepreneurship. We are also trying to create virtuous cycles between this ecosystem and the actual driving sectors of the Spanish economy — that’s why we listed a set of 10 driving sectors that represent above 60% of the GDP. And this is of utmost importance.” The listed sectors where the government wants to concentrate and foster support — so those same sectors can leverage gains through closer working with digital innovation are: Industry; Tourism and culture; Mobility; Health; Construction and materials; Energy and ecological transition; Banking and finance; Digitalization and telecommunications; Agri-food; and Biotechnology. “We decided we needed to make the cut at some point and we decided that putting together 60% of the GDP in Spain was a clear direction of the sectors that we could be using in order to accelerate the change that we want to see,” says Polo. “Basically what we want to shift with this model is that the innovative entrepreneurship that has been quite enclosed in the past starts working with the different driving sectors that we have in the country because they can help each other solve their different issues. “So first, for example, for investment — what if big companies start investing more and more than they are actually doing? We accelerate also that path — into innovative entrepreneurship system. That is going to help close that gap… What if startups and scale-ups in Spain work together with our international companies in order to attract and retain that talent? That is going to put us as a country in a better position. “To me the best example is about scaling up: Because what is better than scaling up on the shoulders of giants? We have already a big number of international of world-class companies that are in different markets so what is better than being able to scale up with a company that is already there, that has the knowledge and that can help you mature as a scale-up in a shorter period of time. So there are a lot of virtuous cycles that we can generate and that’s why we wanted to make also a broad appeal to the different driving sectors. Because we want to let the country

AMR MAHFOUZ, CEO, ITIDA, Egypt

“Economic impact will primarily come from expanding revenue pools and attracting foreign direct investment to the country.The sector can unlock economic beneﬁt by driving increased productivity, capital, and labor hours through digitization of ﬁnancial services.” know that everyone is called to make this a reality.”

DIGITAL DIVIDES Digital can itself divide, of course, as has been writ large during a global pandemic in which the development of children excluded from attending school in person can hinge on whether or not they have internet access and computer literacy. So the principle of entrepreneurial growth being predicated upon social inclusion looks like an important one — even if pulling off major industrial transformations which will necessitate a degree of retraining and upskilling in order to bring workers of all ages along the same path is clearly not going to be easy. But the 10-year time frame for “Spain Entrepreneurial Nation” looks like a recognition that inclusion requires time. The long-term plan is also intended to address a common criticism of Spain’s politics being too short-termist, per Polo. “In Spain particularly it’s been a regular criticism that politics always look in the small term so this is proof that this government is also addressing the short-term issues but also is preparing Spain for the future,” he says, adding: “We really believe that [presenting a long-term vision is] a good thing and it’s an answer to that social demand.” The country has also — over the last decade or so — gained a bit of a reputation for successfully challenging digital developments

over specific societal impacts in Europe’s courts. Such as, in 2010, when a Spanish citizen challenged Google’s refusal to delist outdated information about him from its index — which led, in 2014, to Europe’s top court backing what’s colloquially referred to as the “right to be forgotten”. Uber’s regulation-dodging was also successfully challenged by Spanish taxi associations — leading to a 2017 ruling at the highest level in Europe that Uber is a transport service (and therefore subject to local urban transport rules; not just a technology platform as the ride-hailing giant had sought to claim). Anti-Uber (and anti-Cabify) strikes have, meanwhile, been a quasi-regular (and sometimes violent) feature of Spain’s streets — as the taxi industry has protested at a perceived lack of enforcement of the law against app-based rivals who are not competing fairly, as it sees it. And while gig platforms (even homegrown European ones) tend to try to shrug off such protests as protectionist (and/or “anti-innovation”), they have oftentimes found themselves losing challenges to the legality of their models — including most recently in the U.K. Supreme Court (which just slapped down Uber’s classification of drivers/riders as self employed — meaning it’s liable for a slew of costs for associated benefits). All of which is to say that the muscular sense of injustice that segments of Spanish society have willingly — and even viscerally — demonstrated when they feel unfair impacts flowing from shiny new tech tools should not be dismissed; rather it looks like people here have their finger on the pulse of what’s really important to them. That may also explain why the government is so keen to ensure no one in Spain feels left behind as it unboxes a major packet of startup-friendly policies. Among a package of some 50 support measures, the entrepreneurial strategy makes a reference to “smart regulation” and floats the idea of sandboxing for testing products publicly (i.e. without needing to worry about regulatory compliance first). The idea of opening up sandboxing is popular with local gig platform Glovo. “I really believe this is key; allowing innovation to test products/services without having to go through regulatory nightmares to test. This would really drive innovation,” co-founder Sacha Michaud tells us. “This is working well in financial services but could be applied across a wide range of tech areas.” Attracting more investment to Spain and improving stock options so that local companies can better compete to attract talent are other key priorities for him.

SUNDAY APRIL 4, 2021 • T H I S D AY

THISDAY, THE SUNDAY NEWSPAPER APRIL 4, 2021

BUSINESS

Editor: Kunle Aderinokun 08033204315, 08111813084 Email:kunle.aderinoku@thisdaylive.com

Is Corruption the Reason for Nigeria’s Underdevelopment? &orrXption is systemic and cXltXral in Nigeria, and it has been said to be the single greatest obstacle preventing Nigeria from achieving its enormoXs potential. <et it is a global issXe that transcends national boXndaries. *overnments of virtXally all coXntries are trying to eliminate it, either sincerely or at least nominally. In Àghting corrXption, Nigerian governments have made an idol oXt of it by blaming if for their inability to do what they promised to do when they campaigned for o΀ce. Nosa James-Igbinadolor proposes the case against corrXption as the ¶deity’ responsible for Nigeria’s Xnderdevelopment

conomicgrowthisthesinglemost imSortDnt IDctor inÁXencing poverty. According to the IMF, DEXndDnt stDtisticDl stXdies hDve IoXnd ´D strong DssociDtion between national per capita income and national poverty indicators, Xsing both income and non income measXres oI povertyµ. It is generally agreed that ´soXnd policiesµ oXght to be MXdged by their e΀cacy in IXlÀlling the socio economic obMectives oI steady growth, IXll employment, price stability, and a viable external payments sitXation, as mandated by the prevailing socio-political consensXs, and Iramed by the Xnderlying economic strXctXre and institXtions. 1otwithstanding, a stXdy by AXstralian Economists, 3alle Andersen and 'avid *rXen, shows that a macroeconomic policy framework condXcive to growth can be characterised by Àve featXres. 7hey are a low and predictable inÁation rate; an appropriate real interest rate; a stable and sXstainable Àscal policy; a competitive and predictable real exchange rate; and a balance of payments that is regarded as viable. &oXntries with these macroeconomic characteristics tend to grow faster than those withoXt them, thoXgh there are many individXal cases of both developing and developed coXntries sXggesting that satisfying only some of these conditions does not sXstain strong growth. Between 2002 and 2015, the Nigerian economy experienced an astronomical rate of growth. However, sXch level of growth did not translate to the expected increase in employment opportXnities and poverty redXction on the groXnd. While average growth rate between 1990 and 1999 was a little over one percent, the Nigerian economy grew by as mXch as 15. in 2002, . 5 the following year, 9.25 in 200 , and between and in the sXcceeding years, Xntil the coming to power of the BXhari administration. 8nder the BXhari administration the Nigerian economy is to all intents and pXrposes in ¶intensive care·. In 201 , the economy grew at -1. 2 , 0. 1 in 201 and an average of 1 in the sXbseTXent years. It was the Economist Magazine that lamented the periloXs state of the Nigerian economy as ´stXck like a stranded trXck. Average incomes have been falling for Àve years; the IMF thinks they will not rise for at least another six«µ AFebrXary 2021 report by Bloomberg noted that ´Africa·s most popXloXs coXntry exited its second recession in foXr years in the foXrth TXarter of 2020, with economic growth of 0.1 . 7he economy shrank 1.9 last year, the biggest contraction in more than two decades. Economic growth has lagged behind popXlation growth rates every year since BXhari came to power in 2015, leading to a decline in average income per capita. 7he impact of the coronavirXs pandemic will pXsh 20 million more Nigerians below the poverty line by 2022, according to the World Bank.AboXt 0 million of the coXntry·s popXlation are classiÀed as extremely poor, the highest nXmber of any nation. Arecently released laboXr force report from the National BXreaX of 6tatistics NB6 pXt Nigeria·s Xnemployment rate as of the end of 2020 at . from 2 .1 recorded as of 42 2020, indicating that aboXt 2 ,1 , 9 2 .2 million Nigerians remain Xnemployed, with Àve million Nigerians losing their Mobs between -Xne and 'ecember 2020. 7he Xnrelenting Mobless rate according to Bloomberg, means that Nigeria now possesses the second highest rate of Xnemployed in the world, and is set to become the coXntry with the highest rate of Xnemployed in 2022. In spite of all these depressing nXmbers and more, the BXhari administration still has a fetish obsession with seeing corrXption as the maMor driver of economic ill-growth rather than the government’s bad macro-economic policies since 2015. While some scholars argXe that corrXption increases cost and leads to doXbt in the intentional

Buhari

spheres, others posit that corrXption has a negative eͿect on the ratio of investment to *'3 thXs aͿecting economic growth. It has also been argXed that corrXption discoXrages investment and distorts the composition of government spending XsXally to the detriment of fXtXre economic growth. 2n the other hand, EmmanXel AnorXo and HabtX Braha are of the view that corrXption can be growth enhancing in the sense that with the help of corrXption, e΀ciency in the economy is improved. 7his is so becaXse strict measXres that are imposed by the government, impeding investment and other economic decisions favoXrable to growth are removed. 7herefore, corrXption according to these scholars ´greases the wheelµ It is commonly agreed that corrXption distorts the allocation of resoXrces by diverting mXch-needed capital for economic development to corrXpt ofÀcials’ pockets. 7hXs, a high-level corrXption in a coXntry is detrimental to its economic growth. <et some coXntries achieve rapid growth Xnder rampant corrXption. 6haomin /i and -Xdy -Xn WX’s stXdy on ¶&orrXption, 7rXst and Economic *rowth’, conclXded that, ´if we make a simple plot graph to view the relationship between the level of economic development measXred by income per capita and perceived corrXption level across coXntries, we will get an interesting and mixed pictXre it seems that growth rates diverge more for coXntries with high level corrXption. In other words, while many highly corrXpt coXntries have low economic growth rates, there are coXntries that have achieved rapid economic growth Xnder rampant governmental corrXption. 7his at least sXggests that some coXntries may achieve high economic performance despite high corrXption.µ &hina, according to 6haomin /i and -Xdy -Xn WX provides sXch a case. Both domestic pXblic

opinion polls in &hina and sXrveys by international organizations show that the level of corrXption in China is high, deeply rooted, and widespread. ´In spite of the rampant corrXption, the Chinese economy has been growing rapidly, with an average annXal growth rate of approximately 10 per cent. Moreover, China is not alone; there are other coXntries that have relatively high corrXption and economic growth rates. 3resXmably, one can argXe that this is becaXse there are many factors that aͿect economic growth and corrXption is only one of them. ´In China, dXe to the monopolistic control of most economic resoXrces by the government, corrXption is rampant. 7he widely accepted view in China is that ´power cannot be deposited in a bank, so yoX had better proÀt from it while yoX can.µ While the misXse of resoXrces and power for private gain has no doXbt negatively aͿected the Nigerian economy since independence, what has determined Xnderdevelopment and motivated a lack of sXstainable growth in the economy has been primary the prevalence and dominance of bad macroeconomic policies that have helped to trap the coXntry in a downward spiral of falling economic activity and diminishing economic welfare. While the desire to see national income grow in real terms in a way that can be sXstained in the fXtXre, withoXt generating other signiÀcant economic problems is fXndamental, for a developing coXntry like Nigeria, fXrther development is often the primary goal; that desire to increase the longevity of the popXlation, increase access to edXcation, and attain a decent standard of living. Bad government policies have sXstainably pXshed back violently against economic growth and development. 7he incestXoXs fetish obsession with Àghting ¶corrXption’ has been more pronoXnced since 2015.As corrXption has been ¶foXght’ Xnder the

BXhari administration, the economy has continXed to sink and totter to recession and non-growth. 7he idea that the totem of ¶Àghting corrXption’ is the magic wand for driving economic growth and development cannot bXt be XntrXe. Anna Marie 6antacreX and Heting =hX’s analysis of the ¶Miracle of the Han 5iver’, the period of rapid economic growth in 6oXth .orea, following the .orean War 1950²195 , dXring which 6oXth .orea transformed from a developing coXntry to a developed coXntry, show that corrXption cannot and shoXld never be Xsed as an excXse for not growing and developing an economy. As they noted, following the Miracle on the Han 5iver, 6oXth .orea has been held as an economic model for other developing coXntries and acceded to the *20 in November 2010, capping a sXccessfXl sixty-some years of rebXilding and modernisation. 6oXth .orea experienced one of the largest economic transformations of the past 0 years. It started as an agricXltXre-based economy in the 19 0s, and is cXrrently the 10th largest economy in the world in terms of gross domestic prodXct, and ranks 1 th in pXrchasing power parity *'3 in the world, identifying it as one of the *-20 maMor economies. It is a developed coXntry with a highincome economy and is the most indXstrialized member coXntry of the 2EC'. 6oXth .orean brands sXch as /* Electronics and 6amsXng are internationally famoXs and garnered 6oXth .orea’s repXtation for its TXality electronics and other manXfactXred goods. Many stXdies attribXte 6oXth .orea’s strXctXral transformation to policy reforms aimed at opening the coXntry to foreign markets. Indeed, the export-oriented policies of 6oXth .orea are one of the most important factors of its sXccess 6oXth .orea is now the Àfth largest exporter in the world. 7wo additional factors have contribXted to the increase in international trade and indXstrialization in 6oXth .orea; an improvement in the bXsiness environment as well as policies incentivizing investment in innovation. 6antacreX and =hX note fXrther that 6oXth .orea dominates in the ease to start a bXsiness and enforcing contracts. which play a signiÀcant role in encoXraging investment, prodXction, commXnication and, eventXally, economic growth. FXrthermore, ´6oXth .orea has devoted extra attentiontotechnologydevelopmentandinnovation to promote growth. Innovation and technology are the key factors that have Xnderpinned 6oXth .orean export competitiveness and fXelled the coXntry’s remarkable economic rise over the past decades.5 ´In fact, 6oXth .orea is now spending the largest share of its GDP on research and development 5 D , even larger than the 8.6. and -apan, two of the global leaders in innovation based on 5 D intensity. Between 199 and 2015, 6oXth .orea’s 5 D intensity grew .5 percent from 2.2 percent in 199 to .2 percent in 2015 , while the 8.6.’s only grew 1 . percent from 2. percent in 199 to 2. 9 percent in 2015 µ. <et, the Generals and Politicians that drove the economic miracle of the 1950s to the 19 0s woXld in later years be convicted and Mailed for corrXption and stealing billions of dollars. In 201 , former 6oXth .orean president /ee MyXng-bak was sentenced to 15 years in prison, becoming the coXntry’s foXrth ex-leader convicted of corrXption. He was also Àned 1 bn won . m

after 6eoXl Central district coXrt foXnd him gXilty of bribery and embezzlement. /ee served as president from 200 -201 and his conviction followed the Mailing in April of his sXccessor, Park GeXn-hye. ChXn Doo-hwan, the president from 19 0-19 , and 5oh 7ae-woo, the president from 19 -199 , were convicted of bribery and sedition in 199 . In 201 , the coXntry’s Àrst female President, Park GeXn-hye was Mailed for 20 years over a vast corrXption scandal that led to her downfall from power. 6he became the Àfth leader of that coXntry to go to Mail.

THISDAY, THE SUNDAY NEWSPAPER APRIL 4, 2021

FOCUS

As Access Drives Revenue Growth through Retail Banking Access Bank has been driving its revenue growth through retail expansion, driven by a strong focus on consumer lending, payments and remittances, as well as customer acquisition at scale, writes Obinna Chima

t is no secret that achieving revenue growthinanearnings-constrainedand ever-increasing competitive environment remains a major challenge for traditional banks globally. The situation was further worsened by the outbreak of the COVID-19 pandemic which has also led to an increased incursion by Ànancial technology Àntech players into the Ànancial services segment. According to a report by Deloitte, a global professional services Àrm, as the low interest rate regime and new regulations continue to strangle traditional sources of risk-based and fee income, many once-attractive customer relationships are generating less revenue, causing some to become unproÀtable. With this, many bank executives are Ànding that the old tried-and-true strategies for organic market share and revenue growth are not sufÀcient anymore. Owing to this, they have continued to deepen their retail banking strategies and Àne-tuning their products to laser in on the remaining attractive opportunities. One of such banks is Access Bank Plc. Its consumer lending business has seen 60 per cent growth in digital lending volume and value. Access Bank has been driving its revenue growth through retail expansion, which has grown consistently across all income lines, driven by a strong focus on consumer lending, payments and remittances, digitalisation of customer journeys, and customer acquisition at scale It has also maintained strong capital levels despite investments for growth and has accumulated capital over time. The bank under the leadership of Herbert Wigwe is currently in hot pursuit of its legacy debts which runs into billions of naira from recalcitrant debtors of former Diamond Bank Plc which it acquired few year ago. It is currently locked in court battle with Seplat Chairman, ABC Orjiako, Seplat, its allied company, Cardinal Drilling Services over an $85 million by Cardinal. There are other high proÀle debtors are not happy with the vigour and resolve to recover the debts and are Àghting back. But that has not deterred the leadership of the bank to remain focused on recovering the debts. Its recently released Ànancial statement for the year ended December 31, 2020, showed that despite a challenging economic and regulatory landscape, the bank beat analysts and stakeholders’ expectations. In the period under review, the bank recorded gross earnings of N 6 . billion for the Ànancial year ended December 31, 2020, which was a 15 per cent improvement from the N666.75 billion posted for the comparative period of 2019. ProÀt before tax grew by 13 per cent to N125.9 billion from N111.9 billion, despite the high cost of operating the enlarged franchise and the increase in net impairment charge of near N43 billion arising principally from a Structured Trade Finance STF portfolio in the Access Bank 8.. According to the bank, the STF impairment is one-oͿ COVID related and recoverable over the next 12-18 months against insurance cover from world class insurers. However, proÀt after tax PAT rose by same margin from N94.1 billion to N106 billion in 2020 on the back of a 32 per cent growth in operating income, which oͿsets the rise in impairment charges and operating expenses. Customer deposits grew by 31 per cent to N5.59 trillion in December 2020, from N4.26 trillion, while net loans and advances grew by 18 per cent to N3.61 trillion, up from N3.0 trillion in 2019. The board recommended a Ànal dividend of 55 kobo per share bringing the total dividend to 80 kobo per share. As the bank intensiÀed recovery eͿorts, it undertook signiÀcant write oͿ and leveraged its risk management practices, its asset quality improved to 4.3 per cent, compared to its 2019 report of 5.8 per cent. This is expected

of growth opportunities in Africa. According to him,Africa has enormous potential and there are opportunities for anAfrican bank that is well run, that understands compliance and has the capacity to support trade and the right technology infrastructure to support payments and remittances, without taking incremental risks. “We believe that we are best positioned to basically do all of that. Our focus is to become an aggregator inAfrica and we are building a global payment gateway and providing trade Ànance support and correspondent banking across the continent. We are focusing on the key markets. “The approach would always be that in the country we wish to go to, that we have the right skills. We would not just be a drop in the country in which we are present, we would make sure that we have an impactful presence in each of the major countries in which we are present. “In doing this, we are also mindful of the country we are going to so as to make sure that it is of beneÀt to the bank. As we do this, we are working with our friends and partners. “We are diversifying our earnings away from volatile markets as well and we are orchestrating our operations from the global payments gateway and ensuring that using Access Bank 8., providing corresponding services from digital platforms, the overall proÀtability of our franchise,” he explained. Commenting further, on AfCFTA, he said the bank would use its digital framework to beneÀt from the deal. “Coming to Nigeria, we think we need to continue to entrench ourselves in the local market because there is still so much work to be done. “So, we are doing everything possible to satisfy our customers and also to ensure that our channels are adequately secured. We are also ensuring that our staͿ are very e΀cient,” the CEO said.

Wigwe

to continue to trend downwards as it strives to surpass the standard it had built in the industry prior to the merger with Diamond Bank. According to Wigwe, the Group Managing Director and CEO of Access Bank, the Ànancial institution’s resilient performance was a testament to the eͿectiveness of its strategy and capacity to generate sustainable revenue. “The strategic actions that the Bank has taken over the past 12 months evidence a strong focus on retail banking and Ànancial inclusion, an African expansion strategy and a drive for scale for sustainable value creation. “In 2020, Access Bank proudly opened its doors for business in .enya and Mozambique, further increasing our footprints across theAfrican Continent. Access Bank Zambia also concluded the acquisition of Cavmont Bank Limited in January 2021 and the Group recently announced the approval by relevant regulatory authorities for the acquisition of Grobank Limited, creating an inroad into the SouthAfrican market in realization of the Group’s strategic ambitions,” he added. In view of the opportunities that exist in the market, Access Bank recently disclosed plan to transit to a holding company HoldCo structure. The bank has received the Approval-InPrinciple from the Central Bank of Nigeria for the restructuring and the HoldCo will consist of four subsidiaries in order to tap into the market opportunities that are available in the consumer lending market, electronic payments industry and retail insurance market. Access Bank Group will consist of Nigeria, Africa and international subsidiaries, while the payments subsidiary will leverage the strong suite of the bank’s assets, Wigwe said. “Going into the fourth year of our 5-year cyclical strategy, our focus remains on consolidating our retail momentum and expanding our African footprint in a sustainable manner,” Wigwe said. In 2018, the bank launched its ‘Africa’s Gateway to the World’ campaign – a strategic initiative which aims to promote ‘access to Ànance’ in Africa and beyond. It started this campaign by leveraging technology to oͿer its consumers new

products. An example was its partnership with 5emita, which has oͿered PayDay loans to over Àve million external customers. The product was available on the web, through the bank’s 8SSD code, viaATMs,Access Mobile, WhatsApp Banking, and QuickBucks – its instant loan disbursal application. Access Bank has also embraced digital technology to propel both its sustainability targets and its African gateway strategic drive. This is evident in the bank’s partnership with the Africa Fintech Foundry AFF , aimed at nurturing the next generation of cutting-edge Ànancialtechnology Àrms. TheAFF is a pan-African accelerator designed to Ànd and invest in start-ups that implement a global viewpoint while still focusing product oͿerings on Africa. Access Bank plans to harness the very best Nigeria has to oͿer, working closely with them to make Nigeria a retail banking powerhouse. The bank has also continued to develop products to support digital payments across Africa. Expansion Drive Access Bank recently unfolded plans to expand to eight moreAfrican countries as part of a strategy to support trade and Ànance in the continent and take advantage of the newly formedAfrican Continental Free Trade Area AfCFTA . The countries are Morocco, Algeria, Egypt, Ivory Coast, Senegal, Angola, Namibia and Ethiopia. Presently, the tier-one bank operates in 12 countries. According to Wigwe, across Africa, there is an opportunity for the bank to expand to highpotential markets, leveraging the beneÀts of AfCFTA. He saidAfCFTA, among other beneÀts, would expand intra-Africa trade and provide real opportunities for Africa. Wigwe said the bank would use its o΀ce in London to expand representative o΀ces in India, Lebanon and China. He stated that the plan is for the bank to establish its presence in 22 African countries so as to diversify its earnings and take advantage

Enhancing Customer Experience As part of its commitment to increase access to banking services in communities across the country,Access Bank last week announced plans to open 10 ‘Access CLOSA’ outlets in six cities in Nigeria. The CLOSAbranches areAccess Bank’s Branded Cabins situated in metropolitan areas oͿering banking services to its customers. The bank described the move as a timely intervention to mitigate the eͿect of restrictions caused by the COVID-19 pandemic. It stated that the branches would be located not less than three kilometres or more than 20 kilometres from the nearest existing Access Bank branch, and would oͿer banking services such as cash deposits and cash withdrawals no 3rd party withdrawals , customer on-boarding, funds transfer subject to a limit of N150,000, BVN enrolment, card issuance, card activation, cheque deposit, bills payment, and ATM services. According to Wigwe, “Access CLOSA was introduced last year, and now, the peculiarities of the coronavirus has made it even more important to bring banking services closer to the people. “Access Bank understands that the risk of transmission is higher in congested spaces and to mitigate this risk, we will be commissioning 10 more banking outlets to serve the needs of our esteemed customers. “The CLOSA banking service is not being introduced to replace our existing branches, but rather aid the Bank in delivering on its commitment to oͿer best-in-class service to our customers. We are not aloof to the threat of the COVID-19 pandemic, and whilst we will do all that is required to ensure branches remain safe for our employees and customers in line with the protocol advised by the health authorities, we urge our customers to leverage on our digital channels in carrying out transactions.” Clearly, retail banks achieve scale by capturing market share, increasing revenues as it allows them to compete eͿectively over the long term, which is what Access Bank has continuously focused on.

THISDAY, THE SUNDAY NEWSPAPER APRIL 4, 2021

BUSINESS INTERVIEW AMINU GWADABE ABCON Will Support Any FG’s Measure to Rid Nigeria of Terrorism Nigerians were jolted with the revelation by the federal government, last week, that some of the sponsors of the terrorism that has thrown Nigeria into a theatre of killing and kidnapping for almost six years included some members of the Bureaux de Change community. As it stands, the Association of Bureaux de Change Operators of Nigeria (ABCON), being the recognised body of licensed BDCs in the country has been brought to the centre of the issue. The ABCON President, Alhaji Aminu Gwadabe, speaks with the THISDAY team, comprising Kunle Aderinokun, Chris Paul and Oyinlola Sale, to put the matter in its proper perspective. Among other issues, Gwadabe also dwells on diaspora remittances and sheds light on BDC operations, drawing the demarcation between its members and unlicensed forex dealers as well as addresses other pertinent issues in the foreign exchange market and digital space. Excerpts:

ecently, the Central Bank of Nigeria came hard on patrons of cryptocurrency, asking banks to close accounts of their customers linked to cryptocurrency transactions and exchanges. This decision by the banking regulatory authority has attracted GLYHUVH UHDFWLRQV IURP GL;HUHQW TXDUWHUV :KDW·V your view on this development? Advanced countries are in the fourth revolution in terms of development, while Nigeria is yet to have a grasp of even the Àrst revolution, which is the agricultural to industrial then digital revolution, which is the apex of all revolutions, today. Digital currency is a global phenomenon and without a doubt, it is the future of global currency, considering the challenges of paper money. So, it has its own beneÀts and its own vulnerability. Other countries that have perfected the art of tracking transactions on the digital platform still exercise some level of caution, even though the central banks still Ànd ways to monitor its trends. The main purpose of digital currency is to break the monopoly of central banks because the central banks monitor, control, coordinate and trace transactions. However, for now, the cryptocurrency world is so anonymous by its operation that it is a challenge to trace parties to a transaction. This is where the conÁict lies; between the advocacy of digital currency and the regulators. But I believe, over time, it is going to be a welcome idea. On our part as Bureaux de Change (BDCs) with over 6,000 members, we have been advocating our transactions to be digital. While we acknowledge that the country may still be moving within the orbit of the Àrst revolution, transactions in the country, especially with today’s generation have been taken to the digital realm. So, people have to key in and transform their transactions to digital windows of money exchange. Now, the leadership of our association has succeeded in digitising ABCON’s operations. Today, our operations are digitised into four automations of transactions: We have one called the SAS Masters, a digital operation by our members, whereby you operate from the comfort of your o΀ce. Over 4,000 operators are on that platform. You can render your returns in real time, online, direct to the central bank server. Before this technology, we used IFAS; people had to come to a central place to start downloading transactions. So, we have digitised that part of our operations. We are also on the platform of NIBSS (Nigeria Inter-Bank Settlement System). There is this issue of validation- .YC (.now Your Customer) status; you have to know your customer and one of the key information we are meant to receive is the BVN. You know BVN is an identity now. We conÀrm your identity and how do we do that" The agency that warehouses the BVN is the NIBSS. They have a portal, where you can go in, see the picture, date of birth, name and signature of the owner of the BVN; for you to know the true identity of the customer you are transacting with. WearealsoontheNigeriaFinancialIntelligenceUnit(NFIU)platform, it used to be Go-AML. But because of the nature of our transaction, mostly we are engaged in smaller volumes… I am not saying there are no bigger volumes; but the scope does not allow us. The scope of our transaction is $5,000 maximum for school fees or $5,000 for business transactions. So, we are on the NFIU platform, where we render Cash Transaction Report (CTR) and Suspicious Transaction Report (STR). As you are aware, there is an Act of the NFIU that pegs the maximum transactions for individuals at N500, 000 and N5,000,000 for corporate bodies per transaction.Any amount above it is expected to be reported to the NFIU. Then, there could be suspicious transaction. I don’t know you and the Àrst time, you are coming to do forex transaction in my o΀ce, you come with hard currency stained with human blood. So, I

the security agencies for investigation. Also, the government has spoken, through its SA Media that this is the report they have from the United Arab Emirate (UAE); reporting that this kind of activities is going on. Like I said, Ànancial institutions are the most vulnerable; when it comes to terrorism and money Laundering Ànancing. It is an evolving phenomenon. Every day, criminals develop processes to beat the system in order to perpetrate their nefarious acts. They even beat banks. This is why you have FIUs (Financial Intelligence Units) all over the world; and you know Nigeria’s position is a bit weak, generally, in terms of even the membership status. Yes, there was a time Nigeria was suspended because of so many lapses … Like I said, the matter is under investigation and so, there isn’t much I can say on the issue…

Gwadabe

should be suspicious of the source of the money. It could be proceeds of armed robbery. But I will still go ahead and complete the transaction with you. However, I will Áag and report it as a suspicious transaction because the things I have seen around it. Or, you come and I tell you the rate is, say, N700 per dollar and you say “am ready, just give me, give me…” all these are some of the traits of suspicious transaction. Also, we are in the process of integrating our members into the edict of the Data Protection Law of 2019 by NITDA. This is because we receive information that belongs to members of the public. We receive BVN, phone number, international passport, visa of the individual. These are the information and the edict demands that whoever is doing 2,000-10,000 information must be audited, must be certiÀed by that agency; because if, tomorrow you are audited and certiÀed by the agency and one of your client’s information is exposed and suspects the leak of his personal information is from your source, you can be liable to prosecution. So, we are telling our members to get on the platform. Then, there is sanction and Politically Exposed Persons’ (PEP) list. You know, Terrorist List; whereby we use one of our partner platforms, DataPro, to also go in. If you are PEP, for instance… not that politically exposed persons are criminals; you know it is because they are vulnerable. So, I would look at it and see… ‘This man is PEP o!, let me be cautious in doing the transaction with him. Like what we have been hearing now that people use Ànancial institutions in terrorism Ànancing, money laundering. So, these are some of the things we put in place as an association to move our members to the digital mode of operations.

The latest revelation by the federal government on its war against insecurity in the country is that it has discovered that some of the sponsors of terrorism in Nigeria include BDC operators. What is your reaction? Well, I don’t want to be subjudiced, because the matter is before

When you heard the news that some of your members were involved, were you shocked? Deriving from this development, what measures is ABCON putting in place to prevent such from happening again? First, my reaction: being an operator that also knows about theAML CFT structure I cannot be surprised because it is a global phenomenon. It happens everywhere in the world even in countries such as UAE. Which means, I shouldn’t be surprised if, it is happening in Nigeria; because it is a crime; and crime has no jurisdiction! More so, these are complex transactions that also demand complex structure to tackle. So, when we heard it, of course as a leader, your members are being alleged to have been found in such a case; and especially, an act, which we have consistently warned members never to indulge in. So, we were shocked that, yes, our members have been found to be allegedly involved in such a crime; and it is a grievous allegation. Terrorism Ànancing is grievous. So, deÀnitely, you had to be shocked about that kind and level of allegation. So, based on that, we had to meet, go to the agency that invited our members and let them know ‘we are here…’ Our members came and some didn’t come back again; and their families are on our neck because their breadwinners, who went with us to honour the invitation did not return with us and so, they cannot see them. The agency has responded and informed them that, yes, their people are with them, but on charges based on Ànancial transactions that are illegitimate and bordering on serious crime. They told us to be patient and allow them conclude their investigations. After that, we issued a press statement where we said, our members were invited and detained for AML CFT breach and the KYC status. We also supported any measures to be taken especially in view of the security situation in the country currently. We will support any measure the government will take to get rid of terrorism once and for all in the country. If that is what it will take to achieve that, why not; every right thinking Nigerian should support such strategy. Also, in that press statement, we appealed to the security agencies to expedite action so that while the guilty is duly punished for their crime, the innocent among them should be released to reunite with their families. Societies are built on the rule of law. For us, therefore, it is still an allegation and one of the problems we have is the issue of clariÀcation. In Nigeria, when they say you are a bureau de change, nobody wants to know whether you are licensed or not. There is a big diͿerence between licensed and unlicensed bureau de change. Licensed bureau de change is licensed by the Central Bank and registered with CAC. They carry out their obligation such as digitisation of their operations and also registered with the Federal Inland Revenue Service as required by the Law. We pay our Taxes. And we have o΀ces. So, basically, there are varying degree of people on the FX transaction turf. See concluding part on www.thisdaylive.com

THISDAY, THE SUNDAY NEWSPAPER APRIL 4, 2021

THE EXECUTIVE LEEMON IKPEA How NCDMB Can Further Deepen and Strengthen Local Companies Dr. Leemon Ikpea is the Chief Executive O΀cer of Lee Engineering Construction Company Limited. He speaks with Bayo Akinloye about the positive impact of Nigeria’s local content policy on the nation’s oil and gas industry, the vital role played by the Nigerian Content Development Monitoring Board in deepening local companies participating in the industry and strengthening their capacity. Ikpea also discusses the new normal occasioned by the COVID-19 pandemic and its eͿects on his organisation’s operations and business outcomes. Excerpts:

owhasitbeenrunning your business during the pandemic? The COVID-19 pandemic is like a swarm of locusts of biblical proportion. The health crisis has brought the world to its knees. This is not just in terms of physical well-being; that is, one’s health. It has, in a literal sense, wreaked havoc on every human system. Well, almost, because during this crisis, the Internet-based technology companies have boomed. Some Àrms, hitherto, making average revenues, have seen their earnings hit a record high that they did not dream of. It has also widened the scope of their businesses. To come back to your question, the business has not been easy since the Àrst index case of COVID-19 was recorded in February in Nigeria. There is no mincing words that it has been tough running a business under the clouds of the coronavirus crisis. It is no longer news that many businesses have closed shop in the country. Following closely to that is the grim reality that many people, unfortunately, lost their job. But solace can be taken from the fact that while there is life, there is hope. Life continues. This also underscores the fact that health is wealth. When health is absent, everything else is a void, a striving after the wind. In our case, we are in the third decade in the industry. Yet, we were not immune to the virus’ virulent impact in the sector we operate. It was a painful decision for us to let some employees go. These are people we have trained over the years. It was challenging to ask them to go. The reality was grim; production was very low. But at the end of the month, you have to pay salaries. With integrity and prudence, your organisation has survived and thrived over the years. But with the COVID-19 pandemic making physical contact a ‘taboo,’ what has been the experience for you? The best way to Àght and win the coronavirus pandemic is to stay safe and be strong. I think living and working under a cloud of COVID-19 is another, if you like a new way, of life. With all the seeming doom and gloom of the moment, people have realised that the crisis has opened the eyes regarding saving cost. Think about the cost of travelling from one state to another, from one country to the other, Áying from one continent to the next. It costs money to do all that. With restrictions on air travels, one is forced not to travel. Therefore, if you are not Áying, you are saving money. Besides, it reduces the possibility and probability of accidents. You are more likely safe in your conducive environment. But everyone is feeling the joy of working remotely. The Internet became more handy and something nobody took for granted for a moment. Virtual meetings can be held with workers, partners,

Ikpea

vendors, and clients. Communication via the Internet became seamless using various tools videoconferencing. It has been a culture for our organisation to hold virtual meetings and has proved invaluable. It cannot be overemphasised that it is an eͿective and e΀cient way of doing business. It has reduced our cost of operations. That is good for business.

Lee Engineering has witnessed phenomenal growth over the years. To what will you attribute this growth? It may sound like a cliche, but I am not hesitant to admit that the phenomenal successes we have recorded over the years are attributable to God’s special grace.

Having said that, I will mention hard work. Hard work always pays oͿ in the long run. When you honestly apply yourself to the job at hand and work hard, you are more likely to succeed. The least product of hard work is dignity. The satisfaction that you work for what you earn. Closely related to that is integrity. One must have integrity. You must be known not just for being hard-working, but you must let integrity permeate every process of your hard work, your operations. For Lee Engineering and me, personally, integrity is the key. You may have all the technical know-how, but without integrity, how far can you go" Not really far. Not far at all. Integrity is the key in our business. That may sound

old-fashioned. Yet, it remains what propels businesses in this modern, sophisticated world. It does not have to be the buzzword. It is something every responsible business must live. For us, integrity is not a concept. It is who we are. With integrity, every business partner, client, supplier, or vendor looks for you because they trust you. Who will do business with you if you are not trusted" Integrity is our watchword. We run an honest business. We have honest and hard-working staͿ. We are not honest and hard-working some of the time. We are honest and hard-working all the time. The company is transparent. For almost 30 years that we have been in business, there is no stain on our name.

THISDAY, THE SUNDAY NEWSPAPER APRIL 4, 2021

THE EXECUTIVE

The Key to Lee Engineering’s Thriving Businesses is Integrity Our dedicated staͿ have ensured that. I have used my exemplary life of honesty, hard work, integrity, and transparency to demonstrate to them how invaluable those values are. They share the dream of the company and run with it.

How has the local content policy of the federal government impacted your business? There is no need to mince words; it has been a fantastic policy since it was signed into law in 2010. That was during former President Goodluck Jonathan’s administration. I take my hat oͿ for the federal government for conceptualising and actualising that policy. Imagine what the oil and gas industry will be like for local players without the local content policy. With the advent of the local content policy, Nigerian companies have been strengthened to play important roles in the industry. It is a thing of joy and pride to let you know that local content discussion started in my o΀ce in my Warri o΀ce back in the days in the early 1990s. We started this discussion. We were working with multinationals. They would get the job directly from the IOCs, that is, International Oil Companies, then they will sub-contract the job to us. Ultimately, we were the ones doing the jobs, but they were the ones getting the fat paychecks. However, with the establishment of the local content policy given teeth by law, operating as local companies in the oil and gas industry is now a diͿerent ball game. Local companies have been given a platform to excel. Our hands have been strengthened. We are working directly with the IOCs. The local content agency of the federal government. The people working in the Nigerian Content Development & Monitoring Board are hard-working, wonderful people. They love Nigerians. This is no mere platitude. The crop of Nigerians working at the agency have the core interest of Nigeria and Nigerians at heart. I am of the opinion that the federal government should give those working at the agency enough time to build and strengthen the structure they are working with. This is especially so with the leadership position. They should allow the agency to run seamlessly so that if there is a person at the helm of aͿairs, things will work as if it is on auto-pilot. Currently, the crop of staͿ at the agency are very meticulous, e΀cient and they follow the book. They ensure that local players in the industry receive adequate training. The agency also encourages us to establish fabrication workshops where heat exchangers, high-pressure vessels, valves, and other things. Today, I am sure you have seen the place before, if you go there today, we are almost there. As of now, I will say the fabrication plant is about 85 per cent completed, soon to be inaugurated. I am convinced that this year the plant will be inaugurated. We will also include the manufacturing of industrial gases and domestic gases. We are ready for the gas revolution. Soon, gone will be those days when gas cylinders are imported; we will manufacture the cylinders here. It is part of our plans. The agency has helped Nigerian companies tremendously. The Nigerian government is saving businesses billions of naira. The business is done locally and by local contractors. What is more, the monies are domiciled in the country. Just imagine the multiplier eͿects. Once our factory in Warri, Delta state, is completed and declared open, it will positively impact the economy. Think of the many suppliers and vendors that will be involved. It will be a huge market that will attract diͿerent people from diͿerent parts of Africa to patronise us. That is not all; we are going to engage in capacity building. People will receive training at our plant if this factory is not there, all that will not happen. The local content body is real help from the federal government to Nigerians. Believe what I tell you: this is my 44th year in the industry. Giving the local content policy legal backing is perhaps the biggest development I have witnessed in the industry. Let us keep hoping and praying

Ikpea

for that good people to continue to manage the industry. If the federal government allows for consolidation in the agency, Nigeria’s oil and gas industry will see better times. The factory, when operational, will provide many jobs and save the country the rigours of foreign exchange. The factory will be a one-stop-shop. It is one of a kind.

What do you think can be done to strengthen the Nigerian Content Development & Monitoring Board? To be honest, I will encourage that the agency should be allowed to drive itself. It should be run without political interference. The government should encourage the agency to deepen its implementation of the local content policy to ensure that Nigerian companies are fully empowered in the industry. Since its establishment, the agency has had about four or Àve executive secretaries. I am not sure that is the way to go. There should be the stability of leadership. I can beat my chest that the current set of people at the agency are very e΀cient. The majority of the people working at the agency are extremely experienced individuals. The federal government does not need to change the leadership of the agency too frequently. I will suggest a tenure of a minimum of 10 years for the agency’s executive secretary. With that, I am conÀdent Nigeria can experience a boom in the industry. Will you say the local content policy has encouraged more Nigerians to go into the oil and gas sector? Yes. Nigerians now go into marginal Àelds. We have our marginal Àelds. By the time we start our production, we do not need to bring many things from abroad. We will use our equipment, manufacture them, and use them for what we manufactured them for. That is cost-eͿective. What are Lee Engineering Company’s milestones? First of all, I will say the grace of God. Then, experience. In addition, with honesty and hard work, you can reach any height. I worked in the construction industry for 14 years. What are Lee Engineering Company’s milestones? Lee Engineering and Construction Company Limited, as a leading indigenous EPCOM (engineering, procurement, construction, operation, and maintenance) company in Nigeria, has achieved several milestones and received numerous commendations,

awards and certiÀcates from both local and international organisations and agencies. We have made modest contributions to our host communities in terms of our HSE policy and higher quality outcomes of our projects that oͿer our clients the best value for money. The beauty is that we have not recorded any accident. We are safety-conscious. We have a 100 per cent safety record. That’s a fact; for 30 years, we have a 100 per cent safety record. Zero accident. The culture of safety is a part of our day-to-day activities. With each passing year, as an organisation, we have got better and better. We are still waxing stronger.

What will you say are the low moments? In the about three decades of operation, there have been ups and downs. It has not been easy. We started on a very small scale. We didn’t want to jump the gun. We started with the supply of manpower and safety equipment. We started with N100,000 as of 1990; then, that was big money. We have endured risks and worked in diͿerent terrains. The rest, as they say, is history. The low moment was during the early days of the company while we were in the throes of the learning curve. There some projects we embarked on. As we started the projects, we discovered that our numbers were very low. Even though the numbers were low, we could not abandon the project. To abandon the project will aͿect our credibility. Despite being apparent that our numbers were low, I approached the bank and took a loan. It was a risk I had to take for the sake of credibility and integrity. In the end, we successfully executed the project and saved our name. It was a loss. But what we lost in numbers, we gained in credibility. Our Àrst nine years were riddled with losses, about $3 million. We lost a lot. That was tough for us. Over time, we recovered fully. And, as we recovered, we began to diversify our business. We are into retail, tourism, aviation, and manufacturing. We are also into exploration and production. The dividends from that can be used to expand our diversiÀcation. We are prepared for the future of fossil fuel. We know that oil will not be there forever. We have a factory that produces water and juices. We have a huge market base that we have not met up with demands. You have done so much for yourself and your company. What are you giving

back to the society? Giving back to society is one of the gifts God has given to me. I have established a foundation, Agbonjagwe Leemon Ikpea Foundation (ALIF). The foundation was established in 2012. The foundation has trained students, the majority of them without parents. It is said that there are some brilliant children but nobody to pay their school fees. The foundation does not only pay their tuitions but follows up to monitor their progress in their various schools. As of 2019, the foundation has produced 119 graduates that included medical doctors, nurses, architects, nurses, accountants, quantity surveyors, medical laboratory scientists, lawyers, and other specialists. These are the ones in universities. Some started from secondary schools. Besides that, the foundation trains people in skills acquisition, including welding, fabrication, engineering, etc. Among other things, the company executed an electriÀcation project in Okpokunoe in Delta, completed a rural water project for Ewatto in Edo, provided speed boats Odidi and Kantu in the coastal area of Delta. Looking back, what do you have to say? What else can I say but, ‘God, I thank you!’ I am also grateful to my team of dedicated staͿ. So far, so good. Ninety per cent of the companies we started with are no longer in existence. Today, we have 2,000 employees in the group; that is, Lee Engineering Group and Allied Companies Limited. In this group, you have Lee Engineering, Tribet Ltd (travels and tours), Tribet Aviation, Tribet PuriÀed Waters, and Lee Oasis. The major project going on now is the gas project, domestic gas, and gas to supply the LNG Train Seven. There is also a gas project in Imo. It is a gas transmission facility. Any message for aspiring young entrepreneurs? For all Nigerian youths with the passion and persistence to work and earn a living without taking a fraudulent shortcut, keen on learning, I will say, ‘Pause, ponder and take pride in hard work, honesty, and patience.’ Nigeria is a very big country and highly blessed. Nigeria is blessed with a lot of natural resources. To fully harness these material resources, the nation’s leaders will have to seek ways to bring out the best in the people. We stand to gain as a nation beyond description as long as we manage all the resources well.

SUNDAY APRIL 4, 2021 • T H I S D AY

WEEKLY PULL-OUT

4.4.2021

KENE ILOCHONWU The Nigerian Who Broke Canada’s 113-Year History He recently joined the league of the accomplished who have put Nigeria on the global map. Kene Ilochonwu last year became the first Black Bencher at the Law Society of Alberta Province in Canada after 113 years. The legal counsel with Parkland Corporation tells Funke Olaode his moment, luck and being at the right place

is athletic figure and height cut the image of an Olympic champion. He may look unassuming and straightforward, but the Nnewi Anambra born lawyer is an extraordinary Nigerian who has made giant strides in Canada. Kene Ilochonwu made a global headline late last year when he attained a feat never achieved by any black man. The legal counsel with Parkland Corporation broke 113 years jinx by becoming the first Black Bencher at Law Society of Alberta Province in Canada. He was sworn in on February 25, 2021. Excited and grateful, but before this defining moment, there was a beginning, which kicked off at age six in Lagos. He said, “I grew up in Nigeria; I was born in Onitsha and moved to Lagos when I was six years old. I attended high school at Federal Government College Ogbomosho. I come from humble beginnings. I do not take anything in life as it is on merit; a lot of times it is luck, being at the right place at the right time, or just meeting the right people to help you. My dad was an industrialist and businessman, but I wasn’t cut out for that. I was more interested in attending school and gaining higher education, which is why I went to live with my uncle in Lagos at six years old.” He added, “My uncle trained me from when I was six until when I left the country. My uncle had returned to Nigeria from Zambia with his family, and he had told my parents that he could take me with him to Lagos because he had a son who was two months younger than me. I then became a second son to him, and he trained me from the time I was six up to my Master’s degree, which he paid for. And that was part of the luck I had as well. So I didn’t have a scholarship or anything. I was lucky my uncle was there for me and did everything.” Becoming a global icon wasn’t part of his life trajectory or planned out. It is just by accident. He explained: “I have lived in three worlds; Nigeria, Scotland, and Canada. It was by accident, totally by accident. Moving to Scotland was when MTN and Econet came out here in Nigeria. And being a lawyer, I said it would be good to do telecoms law so that I will work in MTN or Econet. So there were only two universities that offered communications law, the University of Strathclyde in Scotland and the Queen Mary University of London. Queen Mary University was about £10,000, while Strathclyde was £7,700. So I said I would go for the cheaper option so that I could convince my uncle to pay for the tuition fees. “So while I was in Strathclyde, I had travelled to Canada on a visit to a friend, Ako Ufodike. During the visit, he asked me about exploring moving to Canada. This was in 2003 or 2004. The Canadian economy was expanding. The Canadian government had a good and proactive immigration system. Getting a permanent residency in the UK would have taken me like seven years, but applying for permanent residency to Canada was a more straightforward and shorter route. So I said, why stay in the UK and struggle for permanent

ASSISTANT EDITOR OLUFUNKE OLAODE/funkola2000@gmail.com

THISDAY, THE SUNDAY NEWSPAPER ˾ Ͳ˜ ͰͮͰͯ

COVER

I Was Lucky And Want To Be The Luck For Others

residency, struggle for citizenship when I can go to Canada. In 2004, I applied for my permanent residency in Canada and received it in 2006. So again, it wasn’t a trajectory I planned. It just happened that I visited my good friend Ako, he encouraged me to apply, and I applied and got it, and I moved. Interestingly, my friend Ako lived in Toronto, but my wife at the time lived in Calgary (which is like the oil capital of Canada). So I went to Calgary. Two months later, I got a job in the oil-producing area (called Fort McMurray), which is like the Port Harcourt of Canada. “If I was living in Toronto, I wouldn’t have applied for the job because Fort McMurray is like a 5 hours flight from Toronto. But because I was living in Calgary, which is just a one-hour flight from Fort McMurray, I got the job, and that was what saved me. I didn’t have to practice law because I was doing supply chain, and it set me up good. I got a house within four months of coming to Canada. Because the company I worked for really encouraged us to settle in the city and build houses. So I was so lucky,” he explained his life in Canada, which later paid off. But has Kene been a gifted child? “Not really,” he responded. “I am just determined because when I came to Lagos as a six-yearold, I really missed my parents. But remembering the fact that I moved to Lagos because I was bright, I was determined to prove them right. In order not to disappoint my parents and my uncle, who nurtured me to be educated, I was determined to succeed. Then when I did my common entrance, obviously, I didn’t do primary six like most children. My cousin had passed from primary five, so seeing somebody ahead of you, you are challenged to keep pushing because my cousins were geniuses. When I finished secondary school, I didn’t get into university immediately. Then I sat JAMB again while I was already in IMT Enugu studying business administration. This time I got an admission to study law at Abita State University. But I

Ilochonwu with his boys

was enjoying business admin, so I didn’t want to go. My uncle worked in Savannah Bank back in the day, and his colleague, a branch manager in Enugu, encouraged me to pursue a degree in law. I yielded to his advice and moved to Abia State University and registered. I was the second to the last person to register before matriculation. I think I registered on Tuesday, and the matriculation was on Friday. I would have missed it. When I started studying law, I loved it. And that determination to do well helped me. My family was in Lagos and Onitsha, and I was in Abia State. I had never been to the East before. Since leaving Onitsha and moving to Lagos when I was six years old, I have not been back to the East except for school vacations, and having lived in Lagos and the West, most of my life, when I moved to Abia State to study, I couldn’t really speak Igbo. I had to learn to speak Igbo at Abia State University.” He found himself in the law field accidentally or by persuasion, but he really wanted to be a farmer. “Interestingly, when I was in JSS, I wanted to be a farmer because I like the soil. I had a school guardian when I was in Secondary, and he had a farm. I actually wanted to study agriculture, but I am not into the sciences. To study agriculture, you had to do chemistry, biology, and all that. But I was good at history. I was good at English, literature, so that was the part for me to go. What I was good at determined what I studied.” His career path was defined in Canada, the land of his dream. How did he do it? “In Canada, you first do exams called the National Committee on Accreditation. So all internationally-trained lawyers had to do those exams to be an equivalent of a Canadian law graduate. It is like doing some university courses to be an equivalent of a law graduate. I was called to the bar already, but I still had to do it. I passed the exams in 2012. After passing the exams, you need to do what they call articling, which is like law school. It is a one-year traineeship or internship. But I was already doing so well in my supply chain field, and I didn’t think I needed to do the articling. I was already earning six figures, like why would I go back and start all over again as a junior

lawyer and start earning five figures. I wasn’t humble. I wasn’t determined enough, I practised the supply chain, and I did very well.” While exploring the corporate world making money, it was later short-lived. Recalling that defining moment in his life, he stated, “I got fired from my job in 2015. So I didn’t have my six-figure income anymore. So I then started networking with a few lawyers, and that determination came back again. A lot of people find it hard to get articling. If I hadn’t been laid off, I wouldn’t have gone back to law, and if I hadn’t gone back to law, I wouldn’t have been here today. So that adage they say, what the enemy meant for evil, God turned for good is very true. I have a lot of mentees, and I tell them, do not look at your current situation. Sometime in the future, you are going to look back and say wow, and thank God I was in that situation. It is good to have obstacles because when you have obstacles, and you excel, you will look back and say, God took me through that. But when people excel without obstacles, you get arrogant. You have an ego. You think it is through your own efforts that you did it. You don’t realise that a greater force put you through that. So I got laid off in 2015. I met with a few lawyers. I met one of my mentors. Her name is Lara Pella. She mentored me, and I went into a programme for internationally trained lawyers. I did my articling in a law firm called DLA Piper, which is an international law firm and also at Imperial Oil which is the Canadian arm of Exon Mobil. I finished my articles. And Lara again mentored me. I got to work in a law firm, one of the biggest law firms in Canada, Blake, Cassels & Graydon. I was in Blakes for a year, then went in-house. Because of my supply chain experience, I loved business, the business of companies. I tend to like business law, so I went into my current role, which is Parkland Corporation, which is a downstream oil and gas company until I ran for bencher position.” At what time did he run for the

Bencher position, and what influenced that? “Well, a lot of people thought it would be a good thing for me to run because of what I had been doing in the community, what I have been doing in the legal profession etc. So I ran for the election, and I was lucky enough again and the determination, apart from the fact that I am the first black person, I am also the most junior. In Canada, I am only three years call. People who are three years call are still learning the ropes. So, I am sure I am the most junior bencher ever to be elected. Because most of these benchers, you need to be elected, you need to be known by your colleagues. Usually, you are like 10, 15, 20 years at the bar for people to know you and vote for you. It was a huge leap for me, and it paid off. How did he feel becoming the first black man in the history of the Law Society in the province of Alberta? “Interestingly, I didn’t know I have broken the jinx, but then when I heard I was the first black bencher, I looked around and said I don’t know if I am ready for this popularity. I am just a simple guy that just wants to go out and help people. Go and promote internationally trained lawyers, promote visible minorities. So it was bittersweet for me. It was good, the popularity was there, it was good, and I made history. But I don’t want you to take away from the task at hand. It is important to understand that there is a lot of work to be done. After all the noise about being the first black bencher, if I go there and I don’t do a good job, what will be the point of being the first black bencher. Obama being the first black president, needed to leave a legacy. In Alberta, we have the first black Minister of Justice in the whole of Canada, Kelechi Madu. He is doing a good stuff job. I met with him, and he also encouraged me. So the point is to go there and do a good job. So really, I can’t wait for all these things happening in the world to die down so I can get to work.” Blessed with two boys, Kene, a fan of Chelsea Football Club’s passion also lies in mentoring people, particularly internationally-trained lawyers. “I like to be a mentor because people helped me get to where I am. I would say I was lucky, and I want to be the luck for some other person to help them get to where they want to go,” he stated.

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HighLife WENA Takes Centre Stage

Babangida

hat the Women Enterprise Alliance (WenA) has begun is raising a banner for women under which they might develop themselves, push the frontiers of what is considered possible for social, cultural, political, economic contributions to Nigeria and her citizenry. So far, WenA has not only accomplished a reasonable degree of its intended objectives but has begun to call Nigerian women to a higher standard standard pessimists might tag unreachable. For Nigerian women, WenA is likely the most practical platform for bursts of speed and expansion towards the pinnacle of social and financial life. WenA commemorated this year’s celebration of Women’s History Month (March) with the accomplishments of sky-trampling personalities: Ngozi Okonjo-Iweala, super economist, development virtuoso, and 7th Director-General of the World Trade Organisation (WTO); Aisha Babangida, visionary extraordinaire, the brain behind WenA and the initiatives to raise practical pedestals for Nigerian and African women; Amal Hassan, CEO of Global Technologies Ltd., technopreneur, an all-round genius and proponent of all things technological and innovative; Honourable Abike DabiriErewa, Chairman of Nigerians in Diaspora (NiDCOM), political Amazon and worldrenowned diplomat; and Kofo Akinkugbe, the Bosslady of SecureID Nigeria Ltd., another champion whose work is also recognised on a global level. In commemorating the Women’s History Month of 2021, WenA shined the spotlight on these five women, crushing the African/Nigerian woman’s image as a passive member of society. But that is the style of WenA, to deliver practical and productive ways for women to be worldclass entrepreneurs who could compete globally. Something else WenA is delivering is an entire spectrum of opportunities and prospects. At the Women Entrepreneurship Programme (WEP) conclusion, WenA graduated 23 women business owners or Wenapreneurs—and inducted them as Wenapreneurs. The graduation was also accompanied by access to finance and networks. In other words, the newly inducted Wenapreneurs would both chart the course for themselves and utilise their newly acquired associations for paving the path for others. All of these are possible because of WenA and the organisation’s impossible-to-ignore objectives. This has compelled government and non-governmental organisations to gather under Lady Aisha Babangida’s waving flags and her expectations of WenA. One of the latest of these organisations is the National Export Promotion Council (NEPC). This single collaboration between WenA and NEPC is expected to engender boundless opportunities and benefits for Nigerian women in business/business owners. There is much to expect from WenA in the coming months. Then there is the WenA Conference slated for June and for November, and WEP Stream 3 (10 weeks of coaching and training for capacity building and access to finance).

with KAYODE ALFRED ͮͶͯͯʹ͵ͳͷͶͮ͵˜ E-mail: kayﬂex2@yahoo.com

...Amazing lifestyles of Nigeria’s rich and famous

Lekan Ajisafe Wins Big,Clinches Coveted ISO 9001: 2015 Another milestone in the professionalism dexterity of the Managing Director/Chief Executive Officer, Post Assurance Brokers Limited, Lekan Ajisafe, was recently unveiled after his insurance brokerage firm became the recipient of the prestigious ISO 9001:2015 Certification. The foremost insurance company was honoured with the Certification, having met the required standardisation of the International Accreditation Forum (IAF), joining the few Nigerian firms to have achieved such feat. While it was a huge achievement for the corporate existence of the firm, board members, clients, customers, shareholders, policyholders, financial consultants and the investment community are of the strong opinion that the recognition was elicited by the insightful transformation that the Managing Director has ensued in the insurance landscape. Ajisafe, an alumnus of the University of Lagos, has kept a high standard in insurance management, identifying and building national standardisation strategies to widen Africa’s insurance space opportunities. With over nine years of maximising resources with appropriate financial structures at the insurance organisation, Ajisafe has created a pathway for modern insurance practice in Nigeria, strengthening the links between standardisation and public policy by providing thoughtful leadership and promoting awareness of best practices. His indulgence in excellence and quality service delivery has unlocked new growth potential, increasing consumer value and better returns on investment to its s hareholders. Through his innovation, Ajisafe has increased adherence to Good Standardisation Practices (GSP) among standards experts in every national organisation and evaluating all processes to determine their alignment with the World Trade Organization (WTO) Technical Barriers to Trade (TBT) Agreement. The high level of capacity building associated with the firm is allowing the firm to experience increased profitability, capital adequacy, credit rating, dividend stability and financial ratios. As a hallmark of a reputable entity, Post Assurance Brokers Limited has ensured efficiency in operation while managing financial sustainability and risk, preserving

Ajisafe

wealth, reducing anxiety and creating value for clients. Commercially, the business is expanding its reach and deepening penetration to meet the people’s insurance needs, thereby contributing more to the national economy. With a view to maintaining integrity and trust necessary for the advancement of the industry in Nigeria, the firm led a consortium of international insurance companies to interact with major stakeholders in the Nigerian insurance market. The efficacy and resilience of Post

Assurance Brokers, under the able leadership of Lekan Ajisafe, signify that the most potent corporate approach to tackling global challenges is to advance the influence of the insurance industry on national policies. Little wonder that Post Assurance Brokers, through the incredible social and business networks of Lekan Ajisafe, has continued to serve the insurance needs of most of the leading organisations in Nigeria and within the international corporate circle.

Babatunde Fashola Still Riding High

The Chinese are fond of concluding arguments with “...as long as the verdant hills remain, there is no fear of lacking firewood.” There are many likely interpretations to this, but one that applies to politics and public service is that as long as a person is relevant, appreciation and regard will never be out of the question. And so it is in the case of Babatunde Fashola that after many decades in the thick of public service, he continues to soar and surge. A deluge of approval and encomium is currently gathering around former Lagos Governor Babatunde Raji Fashola. Some of these praises refer to Fashola’s past accomplishments as governor, but the majority of them extol his dazzling contributions to Lagos state and Nigeria while serving as Federal Minister of Works and Housing. According to those in the know, Fashola’s completion of the Third Mainland Bridge is the strike that broke the dam. It is to Fashola’s credit that the bridge serving most of central Lagos has been repaired and fortified against future perils of further damage or collapse.

The Third Mainland Bridge was a trending topic in 2012, thanks to the cautions of Senator Gbenga Ashafa. For those who have forgotten, Senator Ashafa called on concerned parastatals to give serious thought to the bridge, warning that the chances are that if nothing is done to repair fractures on its foundations, the whole stretch of nearly 12 km might collapse and result in immeasurable damage to life, property and the economy. Over time, only side repairs have been carried out—that is until Fashola decided to go all out, shut down traffic, and renovate the entire length of the bridge. This is in keeping with Fashola’s adherence to the dictum that what is worth doing is worth doing well. Asides from the Third Mainland Bridge, Fashola has also taken an interest in securing the country’s dignity via dependable, longlasting constructions and encouraged indigenous contractors to take up the challenge and make us all proud. What else can one ask of the Federal Minister of Works and Housing? So, Fashola has done well, is doing well, and will obviously continue to do well.

Fashola

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HIGHLIFE

Tajudeen Adeﬁsoye Dazzles All Eyes on Constituents with ‘Community Grants’ Ifeanyi Ubah

The famed nursery rhyme goes like this: a man of words and not of deeds is like a garden full of weeds. To the knowledgeable, this piece of singsong wisdom is a handy summary of the average politician’s life and legacy— and words and no works. But this is not the style of Hon. Tajudeen Adeyemi Adefisoye, as he has begun again to prove. The people of Idanre/Ifedore Federal Constituency, Ondo State are presently rolling on beds made with feathers and nodding at themselves for having made a solid decision a while ago to have Adefisoye (aka Small Alaji) be their ears and voice at the House of Representatives. Amidst mixed emotions about his age, they still voted him in. And now they are mightily glad that they did. According to reports from the constituency, Adefisoye has launched annuities to support his people’s business ventures. Given the humble title of ‘Community grants’, several members of the Idanre/Ifedore Federal Constituency in Ilaramokin town,

Adeﬁsoye

Ondo State, have already received the allocations. Saluting the actions of Adefisoye, some of the beneficiaries

impassionately noted that such a thoughtful and generous gesture has never materialised before, even though many statesmen and public figures have promised much less and much more. Thus, Adefisoye’s grants have stabilised the board and restored the people’s regard and confidence in their delegates at all other levels of government. To be sure, there is a lot of pressure on Adefisoye to pave the path for the new kind of governance: the interactive, innovative, participatory and responsive model that the educated of society have set forward. As the youngest member of the House of Reps, if Adefisoye adhered to traditional self-centred and nepotistic government, the efforts of our heroes past would be in vain. But thank God that the man is progressive and sensitive to the people’s needs. The community grants are only the first of many to come, the same with those who will emulate Hon. Adefisoye’s model of politics.

Great Times for NFF President, Amaju Pinnick

Pinnick

“It was the best of times…”. These opening lines to Charles Dickens’ classic, A Tale of Two Cities, perfectly describe the air around the Amaju Pinnick, who was recently elected as an Executive Council member of the Federation of International Football Association (FIFA). Folks have begun, in droves, to send their felicitations

across to the renowned football administrator. One of the best and most welcome developments to Nigerians since the start of 2021 is the election of Amaju Melvin Pinnick, current President of the Nigeria Football Federation (NFF), into FIFA’s Executive Council. Based on the fact that the body oversees the activities of six (continental) confederations and over 200 national associations, the significance of Pinnick’s appointment is not lost on Nigerians. Thus, celebrations are still going on in many places. Nigerian entertainment entrepreneur and CEO of HIPTV, Ayo Animashaun, is the first to formalise these celebrations with a dinner in honour of the FIFA delegate. According to the HIPTV boss, the whole gig was set up to pay accolades to a man who has devoted the better part of his life to the Nigerian football industry’s growth and development. Held at Eko Hotel & Suites, Victoria

Island, Lagos, Pinnick was treated to the best of everything, including wine and dance and the spectacular spices of all parties that are super comedians AY and Bovi, and sensational artiste Seyi Shay. Unsurprisingly, the night only got better and better until the very end. Clasping hands in appreciation, Pinnick appreciated the grand gesture of his host, Ayo Animashaun, as well as the presence of everyone else. The latter included several Super Eagles such as Ahmed Musa, Joseph Yobo, Samuel Chukwueze, Segun Agbede, William Ekong, Leon Balogun, Danny Kioupourouglou, Arin Adeniyi, and Wole Olagundoye. Although Pinnick is not the first Nigerian to occupy a high FIFA chair (the late Orok Oyo and Amos’ Mr Fix’ Adamu also reached these heights), Pinnick’s trail has never run cold. One expects the Delta man to keep shining and shining, reaching further and farther, making us proud.

The Jesus Women of Inﬂuence Conference is Back Optimists remain convinced that the future holds better days than the present and that the present is a necessary stepping-stone for these better days. What they sometimes leave out of their argument is that that future is not set in stone but requires the contributions of far-seeing people to materialise. The Jesus Women of Influence is one of such people, and their contributions are well worth celebrating. The Jesus Women of Influence is a movement and organisation that has been making waves in Christian circles and the general society in recent times. Founded and managed by Mama Blessing Agboli, wife of Rev. Joseph Dominic Agboli (the General Overseer of Victorious Army Ministries), the organisation has grown more relevant and well-known over the years, thanks to Mama Agboli’s commitment and the Jesus Women of Influence Annual Conference. The annual conference is a set time for Nigerian Christian women from all over the country. In previous such meetings, these women are ‘cooked’ and refined with

truths and facts, allowing them to rise beyond mediocre expectations and change their lives and the lives of others. Notable personalities have laboured in this regard. These include the Victorious Army Ministries General Overseer, Pastor Dominic Joseph Agboli; Pastor Paula White-Cain; Pastor Funke Adetuberu; Pastor Patricia Bailey Jones; Betty Irabor and Nkechi Ngonadi, and even Omotola Jalade-Ekeinde. This is excluding renowned music ministers like Sinach, Tope Alabi, Chinyere Udoma, Efe Nathan, and more and more. This year, the conference is slated for 2023 May 2021. The theme is ‘Woman the Help Mate.’ Past attendees are doubtless unable to wait to zip by. Moreover, the Jesus Women of Influence Annual Conference offers the counsel of life-changing decisions and experience and creates an opportunity for the empowerment of women. This year’s edition is no different, and the organisers with Mama Agboli have shared the good news that around 200 women will enjoy Victorious Army Ministry’s generosity. That is how you change the world, one person at a time—just like the Jesus Women of Influence is doing.

Agboli

Ubah

his is the season of political anticipation and excitement, with state elections just over the horizon. The stakes are just as high in Anambra state, the ‘Light of the Nation,’ as they are everywhere else. Nevertheless, renowned statesman, Ifeanyi Ubah, has made the prospects of Anambra’s gubernatorial election into something of a spicy delicacy. Who can resist discussing and debating the possibilities? To say that Senator Patrick Ifeanyi Ubah’s confidence is something worth emulating is to play it down. One can conclude based on Ubah’s certainty that the Anambra governorship seat is his for the taking because Ubah knows something that the rest of us do not, and so has more advantages than are visible to the naked eyes. Based on reports from all around, Senator Ubah is not racking his brains over what to do to secure the Anambra state’s apex position. He has been reported as saying that the top political parties’ defeat (including the Peoples Democratic Party, PDP, and All Progressives Congress, APC) is guaranteed. According to the reports, Ubah’s confidence comes from years of experience with politics in Nigeria and Nigerians in general. As the Senate representative of Anambra South Senatorial District, Ubah has a launching pad for his gubernatorial ambition. He is then set to fly his banner under the Young Progressives Party (YPP), a relatively unknown party. But none of these is worth talking about considering Ubah’s confident expectation of victory. For those who know him and care enough to educate the rest of Nigeria about him, Ubah is a strategist who does not make a move until whatever he pursues has almost fallen into his pocket. This is how he built a business empire from next to nothing and became one of Nigeria’s most enterprising businesspeople. Furthermore, Ubah’s boundless wealth makes it difficult to accuse him of being dependent on someone else’s agenda—as he has been reported to bring up on several occasions. At the moment, all eyes are on Senator Ubah and flashing with calculations on the possibilities of victory and defeat. But no rush—the election exercise is at hand.

THISDAY, THE SUNDAY NEWSPAPER ˾ Ͳ˜ ͰͮͰͯ

LOUD WHISPERS

with JOSEPH EDGAR (09095325791)

Mr Danladi Umar – What a Shame! You know some of these videos that go ‘viral’ can be misleading. As an important commentator, I have to be extra careful in commenting or reacting. In fact, the first comment I saw on the video was ‘wetin dey even do this, Senator Abo, first na slap now na kick.’ I screamed, but what is wrong with this senator. Then I looked closely and saw that it was not him - apologies, sir, but it was this person. He was wearing a suit. He was held down by security men, both armed and unarmed. Even though

I could not hear him from the cowardly commentary of the person shooting the video, I could see his agitation level unbecoming of a person of his stature. This was really sad. Forget the statement later purportedly released by his aide referring to the people as ‘Biafran Boys.’ I won’t even give that statement respect by commenting. Abi how will you rate a full judge shebi na judge fighting in public like that? Even me, a common Duke, used to comport himself o. Remove the security men, remove state power. Will

this fight have ended the way it did? This person conducted himself from the video I have seen, and which millions of Nigerians have seen in a manner very unbecoming of his education, status in society and professional standing. But then again, my friend Obinna Ihunna used to say, “Edgar, clothe a pig...” I cannot complete it abeg before they come and kick me. If you don’t know the full saying, I cannot help you. As I watch this video, I remain sad and angry at the same time. Nigeria is a country, I swear.

BOLA TINUBU – AGE JUST A NUMBER Let me declare last week the Bola Ahmed Tinubu week. Mbok, the daddy seized our imagination and made him the only subject of discussion in Nigeria. First, he decided to fall somewhere, and that video went everywhere. Falling or stumbling is a normal thing. After all, President Biden has been falling and rolling on the floor all over the place, so what is the issue here? But not when you are Tinubu. Tinubu falling is a major news headline. I just tire. People spent productive hours discussing and analysing the fall. Nothing I have not heard. Mbok, anybody that has not stumbled in this life should please stand up and be counted. As that one was trending, his birthday was announced. This was the cake. They say he is 69; his Wikipedia page was immediately assaulted. They say they attached the thing over 80 times. Pictures of him with his age mates like Abacha and MKO were released, and calculations started. In fact, some people have tried to bribe those close to him to collect either his saliva or bottle his fart for precise analysis at the Pfizer lab, those people that do the covid vaccine for better elucidation to come up with his real age. Nothing I have not heard, I have heard 70. I have heard 80. I have even heard 108, which is plausible, especially if you see how he drawls when he talks. As if that was not enough, daddy now comes and says Buhari should deliver 50 million Nigerian youths into the army. They later corrected it and said five million. But the damage had been done. I do not believe my own Tinubu could have made that statement. My own Tinubu is much more connected to the dynamics of the world than that statement. The bobo fall my hand. The army of the future na drone-led. Not this one that you will be throwing bodies at issues. Obama used almost no soldier in most of his battles as president; that is where the world is going; not carrying people looking for food to eat and giving them weapons and calling them soldiers. To me, daddy was hacked, not him. Then finally, another video of some busybody going through a particular newspaper that daddy is rumoured to be involved in carrying over 80 pages of

adverts celebrating his birthday. The clip ended with the man saying he would fight for a refund since nothing was in the paper. So, my take on this is very simple. This man is emerging as the only serious figure as we begin to move into 2023. I see his moves o: the Ganduje angle, the donation to the Katsina fire, the colloquium in the North – mummy attending or not and the courtesy calls to some places show a general getting ready and warming up. The rest of us be doing social media and be calling the man the horn of Satan. The man is moving. For me, whoever is ready, we will support; enough of the emotional gibberish. Abi, is it on Instagram that we will vote for youths? Is it on WhatsApp that we will vote for a new breed? If Tinubu is working and working well, we will look at him no matter the age. But seriously, daddy, is it true that you are close to 100? I really doubt o.

that. That is the situation with this Bello thing. If it is true that the man is gunning for the presidency, turning his back on a much more debilitating situation in his Kogi, which I hear is one of the poorest in the land, then let him throw his cap into the ring. Of course, when he does that, we will now show him what my Uncle Ekpe used to say, “aya kop se ukwak abre.” Please, that is Ibibio. You know say, I just come back from Uyo so the thing still dey my body. If you don’t know the meaning, leave am, busybody. Go to work abeg except you are among the 42 per cent of us wey no get work. Then go to the other room. Thank you.

YAHAYA BELLO – THROW YOUR HAT INTO THE RING They say youth, bobo jump into the ring. He say he is youth and begin to wear Igbo cloth. I don’t know what Igbo people have done to this country. Even with their 12million people or so, anybody that wants to be president will first go and wear Igbo cloth and pose for a billboard. The ones that wear Igbo cloth in 2015 shey we have seen what they have turned us into. Now they have run to London for a medical check-up when the rest of us have only 40,000 doctors to take care of over 200 million people. Well, this is how this bald-headed cowboy starts to wear Igbo cloth, show us picture of him in the gym that looks like somebody boys’ quarters and begins to regal us with statements of his readiness to be our president. Well, he has the right. He is well-positioned. After all, he is a youth and a sitting governor. So he must jump up to be seen. The thing is very simple. It is like wooing a woman. It is your right to feel anything you want to feel, and it is your right to talk about it. But it remains the woman’s inalienable right to decide who she gives her something to, and except you want to rape or take by force, there is nothing you can do about

DOYIN OKUPE – SILENCE OF THE LAMBS This title is from a movie. I have forgotten what I watched in the movie sef. But I like the title for this thing I want to write. I would really like for Chief Okupe to remain silent like the lamb that he is. We have been regaled with all sorts of statements purportedly from daddy on his presidential ambition, and most targeted at my lord that I will for this write-up call ‘Peter Pan’ – Peter Pan is that fairy tale figure that does not age. My brother says that our lord is a worthy opponent but has the edge over him because of his national political experience. My brother, I almost choke on the fufu I was eating. Yes o, I was at the famed Monty Suite in Uyo indulging in a big bowl of Fisherman soup and fufu – not afang this time, you see yourselves as my oga Wale Oluwo will say- when I saw this statement. I ask myself mbok, where is the experience in national politics. Media aide, spokesman? That is the experience o. I think bros should relax and face more pressing issues like his domestic problems with the ‘rebel in France’ cos that is where I really feel we as a nation need him the most. In writing this and that of the Bello upstairs, I have it at the back of my head that during ties like this we will begin to see what I want to call ‘political Abutata’ begin to mill, fly around, make those irritating noise positioning themselves and looking for relevance and platforms to negotiate themselves into small positions o. This can be distracting for those who don’t

Tinubu

Bello

Okupe

Umar

know because as we begin to discuss Okupe, Bello and Edgar, the real magic is going on, and before we realise it, 69 has entered. This one is looking for press secretary job. Instead, make he come out and talk. He is equating himself with the Jagaban if I slap...Lol COVID-19 VACCINE BLUES Me I can fear. My greatest fear in this world is dual. Loss of erection and prison. These two things I dread. Nothing must do my erection o. You can do anything to me as long baba is still working we are good. I tell you. It is the worst thing that can happen to any man. Imagine yourself after you have suffered to secure the interest of a mermaid, she enter room, lay down, open leg, and you come dey look am like clown of Ikot Ekpene. The girl will now be saying daddy hope no problem. You will say, wait, I am coming, and you disappear. Mbok, God forbid. The second one na prison. Even when I drive past Ikoyi Prison, I dey get headache talk less of being forced to live there for a number of years. The Lord of Hosts, the one who saved the children of Israel from Egypt and the patron saint of Akwa Ibom, will never allow that be my fate in this life, in Jesus mighty name. When this vaccine comes, my fear is side effect; not any side effect but any possible link to the erection. At 51, you will agree that I am a rare specimen who can get it up at any time, place or situation simply by my thought process. Most of my mates will need to start getting ready by Monday if they are shagging on Saturday so that by Friday night, they would have succeeded in getting a partial erection, and then Saturday, they rush in very quickly two minutes, they are done. They will now jump up in praise to the Most High. So for me, because of covid wey na just fever and cough and wey we dey use agbo knock am out to now go and take a vaccine that will now come and redefine my true worth and the main reason that I am in this world, dey hard o. People, you see my dilemma. As all my people dey go take the vaccine take picture, I dey fear. Uncle Soni Irabor take, send picture. Many people take and send pictures. I ask

Soludo

THISDAY, THE SUNDAY NEWSPAPER ˾ Ͳ˜ ͰͮͰͯ

LOUD WHISPERS change, and the monster left my screen and was replaced with me again. The federal government needs to listen more and should not now be gloating with this US report because the next minute now, Lai will start talking. Sha listen more.

them any effect on the erection, you know Nigerians, they will not answer o. I even ask my sister Ife Fashola wey tell me say her husband don take. I say any effect, she say come on shut up. Please, can someone tell me, I cannot go and be asking Buhari or Osinbajo this kind question. Can the health minister sign an invocable letter of guarantee that I will not lose my libido if I take this vaccine? Because if I don’t get that document, he be like say we go face the covid and continue to fight am with ginger and garlic. Make una no mind me o. Go, take the vaccine o. You know I can be crazy like that. Take the vaccine, guys. CHARLES SOLUDO – NIGERIA IS UNRAVELLING As I write, the news of the attempted assassination of Prof Charles Soludo is filtering in. Yes, na: what else can we call it but an assassination attempt? We have been told that three security men were killed, and a commissioner was abducted. The prof I hear is safe. No Nigerian should be exposed to this kind of threat to life talk less of a man of this stature simply because he wants to serve. What kind of jagaja country is this one? The whole thing is unravelling. Society is almost gone. We are even tired of lamenting because it is becoming almost an everyday occurrence. Shooting, bombing, maiming, kidnapping, and all we get are people wearing camouflage and saying dem be service chiefs or wetin them call themselves. I am tired and fearful. This is not the Nigeria of my birth. This is not the Nigeria I want to bequeath to my children. This is a jagajaga construct. Why won’t judges be kicking people all over the place and senators be slapping people because he wants to wank and is delayed and nothing? Almost absolutely nothing is done about all this insecurity, but lip service and Garba Shehu press releases? Is this a country? #ENDSARS – WHAT MASSACRE? Even me I got carried away o that night as I watched. The military has moved in, I screamed. What madness, they are killing our children. The bastards are killing our children. I start to cry and run into all my children, both home and abroad, both inside and outside marriage, to make sure they are not anywhere near the toll gate as I watch. After, they start to share pictures of the dead blood on the Nigerian flag. I even write an article that Osinbajo should resign. I beg Pastor Adeboye to ex-communicate am because he was part of a murderous regime. One very beautiful Lagos socialite send a video abusing Sanwo-Olu. When the dust clear, we start to ask, where are the dead? We now see o. I come dey regret. Shamefully, I start to ask where are the dead? What happened? Where is the massacre? With time, even CNN start to look stupid. These people have used a combination of fake news and Internet wizardry to sell a lie. The US State Department has come out to say that what we were initially sold was a lemon. But wait before we gloat. When you are fighting a monster who will not budge and is too powerful, this is what you get. Abi, you want to go and fight the federal government with that huge army that is very adept at fighting children at bus stops, or you want to change a system that is endemic in its atrocious state of anomie? The only thing you will resort to is manipulating minds hoping that awe of discontent can come and sweep away the oppressors. But this failed. Simply because it had no ideological backings or leanings and was most probably backed by selfish and narrow interest. Maybe it was not a true agitation of the oppressed people. This reminds me of the recent fight I had with Chantal and Zara. So to them, I am the federal government with authority that I am misusing. I shout them down, don’t allow them the freedom they want. That is their position o, so I am not describing myself o. So one day, I noticed that my Netflix Identity on the screen in my room that used to have a very handsome image of myself had turned into a very ugly monster. The wifi wey na me dey pay was not reaching my room again, and my favourite yoghurts that I take overnight before I sleep was turning sour. Kai, hot watervine, only my bathroom was not

Ufot

flowing anymore, and my Friska BP tea had started coming in very late by that time I would have slept off. These children were fighting back through other means. Since they could not confront me frontally, they move into guerrilla warfare. I had to call a truce before they go and infiltrate my

Wike

laptop and see that their papa is always watching Xvideos. I say let’s discuss to understand each other better. They talk o. they tell me things about themselves and myself that shock me. I look Duchess, look these girls. I was a stranger to them. I swallow my pride, I beg and promise to

MEFLYN ANWANA – AN AMAZING AMAZON

It was my brother Charles O’tudor that said, “Edgar, why not call Meflyn? She is of the Dakada Initiative and will be very happy to work with you on Ibiom. I said OK na, let’s go there. He sent her number, and I called. She didn’t pick but called back later in the evening. We had a very beautiful conversation, and she immediately struck me as a gogetter and brilliant associate. I said I dey come Uyo. She say when you come. So I landed in Uyo, and for the first three days, we could not meet. She busy die. So I say no problem, life. Then I met with Commissioner Esin, who had been wonderful, and he took me to Ekerete, who is the Chief Press Secretary to His Excellency, and they both said -Meflyn. I say Meflyn? They say Meflyn. She understands you, she has the clarity, and she has the reach. She is brilliant. So I sat there and called her and said, they say it is you o. She said come. I went, and she blew my mind. Her talk on people development policy of His excellency, the

Anwana

belief of His excellency that there can be no industrialisation of the state without a robust and concise entrepreneurial driven enterprise development was on point. She spoke for over thirty minutes on these issues, tying them to trade balances, local and international trade policies, and Akwa Ibom’s repositioning within the vortex of global trade. I was mesmerised. I was happy Duchess was sitting down there and listening too. Mbok after the meeting when we got to the family house and in-between bowls of Afang, Duchess was just gushing about the beautiful half-caste Ibibio women we just met. I smiled. Meflyn has a fire. I sensed that fire, and I know the state is using that fire well from the things I have seen and heard. Well done, my sister. You are truly a gem, and much more importantly, I thank His Excellency with the team he has built and the empowerment he has given them, which is quite novel. Akwa Ibom isongo. Let’s go there.

UDEME UFOT – A SWEET GENTLEMAN I have known this erudite gentleman forever. But he just met me. As a banker at the then NAL Bank, I had gone to market him in his office. He was gracious but didn’t give me the business. I liked his demeanour and the way he received me, so I started following him. From his position at S0&U down to his AAPN activities, his LBS Alumni presidency, where I am also a distinguished member and social secretary of SMP32 to his work with the Dakada Initiative of the present Akwa Ibom government. He has always remained very respectful in my eyes. So when I flew into Uyo to start to look for money for my new Play Ibiom, I called him. I didn’t even know he was chairman of the stately and elegant Hotel - Ibom Golf Resort. I stood on its well-manicured grounds to explain to him my then frustrations. Akwa Ibom people were not taking my calls, I screamed down the line. This was the first time I was speaking to him in my life. He calmed me down and moved me from hysteria to a well-disposed conversation that touched on so many aspects of national life in general and the vision of our state Akwa Ibom. I was impressed and happy. The conversation gave me the strength to enter the market again. Today, I want to say thanks to Mr. Ufot. Uyo is alive to my vision of dropping a mesmerising show. A show that will see over one million people be a part of via the wonderful ogelle video streaming platform of my brother Osita. Thank you so much Mr. Ufot for your kind support and encouraging words. WIKE’S WINDFALL This daddy is confusing to me. At some point, he will be making sense. At the other time, he will be doing things that will make me want to ask that question we used to ask people who go to UNA Primary School grounds in Shomolu at night to be doing some things. So Burna Boy wins a Grammy. Major achievement. He goes home for a welcome carnival, beautiful. The governor just on a whim and in the moment doles out N10 million to all musicians that performed at the reception. Just like that. This country ehn. We never even start. The arbitrariness that comes with governance is mercurial. The same man just like that during Covid demolished a whole hotel. I don’t know the reason o but just like that. I don’t know how many musicians performed on that day, but even if it was just one, do you just jump up because you can squander the people’s heritage because you can? Which kind country be this na? Meanwhile, if you go into the waterside of his state, you will see squalor. You will see the kind of poverty that will give you Ebola. It cannot continue like this o my people. At some point, something will give, and we will be saved. May not be in this generation sha. It will surely happen. We cannot continue in this state. It is atrocious. Please pardon me. I no dey vex like this normally, but the sadness of it all is depressing. Kai. INYANG IBOK EDGAR – A WORD OF APPRECIATION On behalf of the whole Edgar clan, both at home and in diaspora, I want to say a big thank you to all of you that supported us in the interment of our late mother – Mrs Inyang Ibok Edgar. My greatest appreciation goes to His Excellency, Governor of Lagos State, Mr. Babajide Sanwo-Olu, who sent his wishes and support at a time when I was in the dark as to how to move. I also will like to say thanks to his predecessor, Mr. Akinwunmi Ambode and many Nigerians who came around me during this period. Even Chief Olusegun Osoba that I have never met down to Mrs. Onari Duke, who just heard after the burial. I say thank you all. The little lady who sent N5,000, you are the biggest. God bless you. Mama has gone to rest. We can only say hallelujah.

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Adebayo Adeoye bayoolunla@gmail.com; 08054680651

SIFAX Boss, Taiwo Afolabi’s Marriott Hotel Set for Inauguration Dasuki

Hon. Abdussamad Dasuki‘s Memorable Moment

or Hon. Abdussamad Dasuki, April 4 will go down as most memorable. Dasuki will play host to friends, families, and business associates who will converge on Sokoto, the caliphate’s seat, to be turbanned as the Santurakin Sokoto; a title recently conferred on him by His Eminence, Sultan Mohammad Sa’ad Abubakar. To be held at the Sultan’s palace, the royal ceremony will have in attendance eminent personalities and admirers from within and outside the state. The conferment of the Santurakin title on this prince of the caliphate is no doubt a well-deserved honour. Abdussamad, an economist, is Sokoto’s ﬁnance commissioner, in which capacity he has been implementing Governor Aminu Tambuwal’s reform agenda of the North-West state. Before joining the Tambuwal cabinet, Abdussamad, son of the late Sultan Ibrahim Dasuki (18th Sultan of Sokoto), served in the House of Representatives between 2015 and 2019, where he represented Kebbe/ Tambuwal Federal Constituency. While there, he chaired the House Committee on Navy. Dasuki began his political career with his election in 2011 into the Sokoto State House of Assembly, representing Tambuwal East State Constituency. Between 2011 and 2013, he chaired the Assembly’s Committee on Agriculture and later served as chairman of the State Assembly Committee on Finance and Appropriation from 2013 to 2015. As a lawmaker, Abdussamad sponsored several bills and motions that positively impacted good governance and the lives of his constituents. With his turbanning today, Abdussamad becomes the second Santurakin Sokoto. The ﬁrst Santurakin was the late Alhaji Bello Dogondaji, a seasoned administrator and educationist who served as education minister in Gen. Ibrahim Babangida’s military government. Incidentally, Dogondaji was turbanned as Santurakin Sokoto by the late Sultan Ibrahim Dasuki in June 1995. As Santurakin, he represented Sultan Dasuki on various occasions and events both within and outside the Sultanate. Alhaji Dogondaji died on May 15, 2020. The Santurakin title originated from Kano royalty and later spread to some emirates in northern Nigeria, including the Sultanate Council. The title, which is administrative in purpose, is usually held by a prince and an inner member of the royal family. The titleholder assists the Sultan in the day-to-day running of the Sultanate. Like in all royal ceremonies, today’s turbanning of Abdussamad Dasuki promises to be splendid.

To say that the beautiful dreams of Dr. Taiwo Afolabi, Group Managing Director, SIFAX Group, are coming true is, to put it mildly. Over the years, he has contributed immensely to Nigeria’s economy, as he continues to make impacts in the maritime, freight and forwarding, and oil and gas businesses, amongst several others. Seven years ago, Afolabi, gifted with uncommon business savvy, had had a secret desire, which he held so close to his chest. He planned, strategised, and prayed ceaselessly over it. Today, he can beat his chest that his dream of revolutionising the hospitality industry in Nigeria is gradually coming to fruition. Indeed, when he decided to build a 250room, five-star Marriott Hotel in Ikeja GRA, Lagos, those who were privy to the plan never doubted him because they were aware of his ability and his Midas touch, as anything he touches turns into gold. Society Watch gathered that the sevenfloor gigantic edifice, which stands on over 7,000sqm of land, will be open for business from May 19 to be launched by Vice President Yemi Osinbajo. Known to be a man of class, elegance, and panache, he took his time to get the best out of the hotel. The Lagos Marriott Hotel Ikeja, according to insiders, will set a new standard of a premium business hotel, showcasing

inspiring and contemporary décor within the capital of Nigeria’s commercial hub, expected to bring a new dimension to the hospitality industry. The amiable businessman is continually pregnant with great visions for Nigeria’s business climate. Since he made an entrance into business in a grand style, he has been soaring higher like an eagle that has defeated the raging tides of the wind and always ready to soar to an inestimable height of abundant success. With his entrance into hospitality, the industry would experience a turnaround. Afolabi began his professional career with a shipping company, Nigerian Express Agencies Limited, where he distinguished himself and rose to become the head of operations. With the zeal of entrepreneurship burning in him, he left the company in 1988 to establish what has now turned into a big conglomerate, SIFAX Group, a business interest with diverse investments in Maritime, Aviation, Haulage, Logistics, Oil & Gas and Hospitality, among others. He started his business on a shoestring capital from little beginnings as a freight forwarding agent in Lagos. He currently operates across the world with a presence in the United States, United Kingdom, Ghana, South Africa, Holland, Belgium, Morocco, Spain, and Djibouti. Aside from being renowned for his business acumen, Afolabi has also established a reputation as a public-spirited individual. His philosophy has driven him to give hope and support to many

Afolabi

public causes. This philanthropic initiative’s major focus is education, where many schools, from primary to tertiary level, have received immense support and assistance.

When Billionaire Businessman Kola Karim Shut down Ibadan

Karim

Again, billionaire businessman Orikolade Ayodele Karim impressively established his privileged position and connections on April 3 during his installation as the Agbaoye of Ibadanland by the highly revered Olubadan of Ibadan, His Imperial Majesty Oba Saliu Akanmu Adetunji.Since he was announced as the successor to the late titleholder, Chief Harry Ayoade Akande, after a rigorous search, preparations had been in top gear towards the installation of Karim, an ally of the former Emir of Kano, Mohammed Sanusi. A source privy to the selection process disclosed to Society Watch that Karim, boss of Shoreline Natural Resources and one of

the youngest tipped for the title, became the popular choice based on his influence and connections beyond Africa’s shores, as well as his almost unmatched generosity. The Olubadan Palace in the Popo Yemoja area had been enlivened with select dignitaries who witnessed the billionaire’s traditional installation as the Agbaoye, while a lavish reception later held at the popular Jogor Centre along Liberty Road in the heart of Ibadan. The ancient city was shut down and shaken to its very foundations. There, it was obvious to all that the billionaire had a commanding sense of hospitality, as the gaily dressed guests were treated to continental, Chinese, and local delicacies and expensive wines. Meanwhile, another member of the Karim Family, Ayodeji, is planning to extend the fun to Sunday as the majority of the eminent individuals at his brother’s soiree on Saturday will join him for the official opening of his new venture, Pythagoras Lounge. It is a new hospitality haven regarded as the biggest hangout in Ibadan, with Fuji music czar Adewale Ayuba on the bandstand. Pythagoras, located on the popular Felele

Junction in the city’s Challenge area, is specially built not just as a lounge but embedded with everything entertainment, ranging from food, drinks, grills, gaming shop, and unisex salon, among others. The Karim brothers’ investment prowess has famously propelled them into the list of Nigeria’s wealthiest. The sons of a policeman and an entrepreneurial mother who ran a small commodity trading firm’s antecedents precede them anywhere they go. Through their various investments, primarily construction and oil and gas, the extremely private pair has grown to own a slew of other juicy business concerns. Fifty-two-year-old Kola is the chairman of Shoreline Natural Resources Ltd. It is the third-largest indigenous oil exploration company in Nigeria. He also owns 45 per cent participating interest in OML 30. Reports have it that he has in his employ more than 5,000 people in several countries through his Shoreline Group. Kola is also a director of other blue-chip establishments, including Ecobank, Schlumberger, Nigerian Ropes Plc, African Eagles Plc, Trans Amadi Facilities, and Grange Education Ltd.

When Kayode Ajulo Feted Staﬀ Since he started his career as a lawyer, Olukayode Abraham Ajulo has remained the pride in the nation’s legal firmament. Ajulo ensures he is never caught napping, so he deploys all he has to stay on top of his game. Perhaps this explains why he is constantly in quest of knowledge. Ajulo, an alumnus of the Imperial College, London and Chartered Institute of Arbitrators, United Kingdom, is also the founder of Egalitarian Mission Africa, a platform through which he defends people and helps them claim their rights. The former national secretary of the Labour party and the Mayegun Are

Ona’Kakanfo of Yoruba also takes his staff’s welfare to heart, believing they are a major contributor to the success story of his chambers. Society watch gathered that the Principal Partner of Kayode Ajulo & Co Castle of Law, in his usual practice, recently invited friends and associates to his Castle of Law, Maitama, Abuja office for a three-inone cocktail, dinner and open house party. The event, which was a way of celebrating the chambers’ staff, was also designed to provide an ideal environment to interact, integrate and connect with members of the society, and recognise, appreciate and celebrate specific successes and objectives achieved by the firm. Ajulo

SUNDAY APRIL 4, 2021 • T H I S D AY

ARTS & REVIEW A

PUBLICATION

04.04.2021

WITH ART, DAMILOLA OPEDUN SOWS SEEDS OF HOPE IN MAKOKO… Cover continued on Page 68 Opedun in a close interaction with Makoko children

EDITOR OKECHUKWU UWAEZUOKE/ okechukwu.uwaezuoke@thisdaylive.com

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ APRIL 4, 2021

ARTS & REVIEW\\ART-ICLES

WITH ART, DAMILOLA OPEDUN SOWS SEEDS OF HOPE IN MAKOKO... Since his first visit to the Lagos waterfront slum community Makoko in 2014, Damilola Opedun has remained resolute in his commitment to imparting art skills to its children. Okechukwu Uwaezuoke reports

acob might just as well be any of the many nondescript teenage boys flitting about the Makoko community. Could that be why Damilola Opedun offers no further – not even sketchy – details about the 15-year-old? Makoko, where Jacob lives is, by the way, is an informal Lagos mainland littoral community. Some apparently informed sources estimate that a third of this community is built on stilts on the fringes of the Lagos Lagoon, across which the Third Mainland Bridge spans. Most of its residents, who are mostly fishermen, are widely believed to have migrated from Badagry and Benin Republic. Back to Jacob. What matters here is that Opedun got talking to the youth one day. The fact that Jacob’s poor class attendance was taking its toll on his grades has not escaped his attention. Nor has the fact that the boy hadn’t been seen that often lately in his Saturday art classes… After the boy’s father gave up the ghost last year, his mother has been piling on the pressure on him to become the family’s new breadwinner.And one way she thought he could do this was to offer water taxi services within the Makoko community. Meanwhile, Jacob has since his father’s passage moved in with his uncle. Of course, making much money in a poor community like Makoko was out of the question. Hence, there were days Jacob couldn’t even make up to N2000, which would be just about $ 4.89. This, he told Opedun, would make his mother so angry that she would accuse him of not being serious enough with the canoe taxi business. Sometimes, she would beat him when they were left with very little profit after the deductions of the cost of renting the canoe had been made.And the sad thing, for Opedun, is that Jacob is a very talented and promising art student in his Saturday classes, who is committed to becoming a successful professional visual artist in the future. Not much better is the case of another youth, called Lazarus, who is at the top of Opedun’s Saturday art class. Previously attending a French-speaking school back in his country of origin, the Benin Republic, he has since his family’s relocation to Makoko been forced to be out of school. His father, a fisherman, and his mother, a fishmonger, can no longer afford his education since Lazarus is just one – the fourth child actually – among their 10 children. On the brighter side, Lazarus offers his skills and services to training younger and new students joining the art classes. Opedun first visited the famous slum community sometime in September 2014. He had accompanied an artist friend of his,Adebanjo Mesagan, to a part of the community called OkoAgbon to take photographs as reference materials for painting.After he graduated from the Auchi Polytechnic in 2010, Opedun was posted to Lagos State for the mandatory one-year National Youth Service Corps programme. He had, at the end of the service year, opted to stay back in Lagos, where he at first tried to eke out a living by hawking his paintings to art galleries. This was before he crossed the path of an old friend Tenne Fatona. Fatona, who owned a hotel in the middle-class residential mainland neighbourhood Gbagada, literally took him off the streets by offering him a job as a manager of this hotel. But this did not stop Opedun from continuing to work on his paintings. Shocked by the horrific living conditions he found among the Makoko slum-dwellers, Opedun resolved, as they approached the community chieftain’s house for permission to take photographs, to make an additional request.And that was to be permitted to train the children in art skills. The permission to impart art skills to the community’s children was eventually granted after the elders had held several consultations among themselves and done their background checks on the artist.

Opedun in a close interaction with the Makoko children Thus, with the approval granted, his first art class in Makoko held on Monday, January 26, 2015. The art classes, which at first held thrice weekly, soon tapered off to holding just once a week (on Saturdays) after he got married on Saturday,April 25 that same year. During the first two years, Opedun saw no need to publicise his activities in the informal settlement. He at first cringed at the Pharisaic thought of announcing his good deeds from the rooftops. But then, on second thoughts, he reasoned that publicity would help the cause of these underprivileged children. Hence, by January 2017, he had started posting his activities on Facebook, with the hope that well-meaning people out there would be inspired enough to wish to help the children. Yet, there were moments he was assailed with despair and selfdoubt, even toyed with the idea of giving up on the project. Having only two or three students sometimes showing up for the art lessons, because the others had gone to work to support their families, didn’t help matters. “I have also discovered from my interactions with the kids that most of the parents do not wish their children to pursue any other profession outside the common profession of fishing or whatever will keep them within the community for life.” Then, another encounter with a preacher almost convinced him that he was wasting his time with the children. This preacher, whose denomination failed to thrive in the community, condescendingly alluded to the fact that some soils were destined not to produce good fruits no matter how much work one puts into them. Besides, he recalls being so broke that he couldn’t afford the transportation cost to the community. “But because I’m dedicated to the vision, I would somehow manage to go. TheAlmighty has always met my needs at the end of the day.” Of course, it wasn’t easy looking on, as his colleagues sold works in exhibitions and went for art residencies.And here he was going to Oko-Agbon, Makoko every week to teach and inspire underprivileged children! “Oftentimes, I have been asked what my inspiration for visiting this community was without any sponsor,” he muses. “To think that I’m a young man still trying to find his feet in Lagos. Well, my answer is that there is an indescribable and profound love that I have for the kids. I’m gratified to see the joy in their faces every week they see me. I believe

God is behind my vision and the inspiration that has fuelled my passion these years.” Now, the Ondo State-born artist seemed to have successfully put those periods of self-doubt behind him. “Now, I’m more passionate about this work because the effect is so visible on the children that attend my weekly class,” he enthuses. “Their behaviour and perceptions are positively dramatically different from other kids around them, they are really becoming beacons of light for their peers.” He remains grateful to theAlmighty that he has also been able to provide 100-page sketch pads, pencils and erasers for each participant in the art classes and that he had remained resolute since the day he vowed to dedicate his life in the service of building good moral values people that cross his path. Meanwhile, back in 2017, one Idowu Opaleye and his friends Gbenga Ijamakinwa and BanjiAkande sponsored the registration and the creation of the website of his NGO, The Seed of The True Vine (TSTTV) foundation. Their efforts were later complemented by those of the architect Samuel Okai, who designed the proposed Makoko art studio, the chartered accountant Conerlius Okai, who is in charge of the TSTTV accounts, Damola Ogunbambo who is in charge of the website and social media accounts, the University of Benin undergraduate Emem Ibanga, who creates content for the social media accounts and the artistAzeez Salami, who doubles as a facilitator at the Makoko art classes and Ezekiel Onwuka, who handles the logistics. The recently-acquired studio space housing the TSTTV Studio Two, which is alongAjayiAina Street in Gbagada, was inaugurated on Saturday, January 16 this year. “We hope in this new year to build a wooden structure in Makoko for the children and that will be the Studio One.” Perhaps, a precursor to this TSTTV studio would be a studio space he used to have in a small compound at 10, Olufeyisan Street in the Lagos Lagoon-front neighbourhood Oworonsoki in 2016. This was where he worked with a group of six students from the Yaba College of Technology’s art department, who solicited for an internship programme in his studio.

DRAMA

Cream Body Lampoons Prejudice Against Black Skin Yinka Olatunbosun

A scene from the play

n a world where the black skin is still being discriminated against, the playwright-director Joshua Alabi exposes the fundamentals and complexities of the African perception of his own skin with the farcical play, Cream Body. Performed for the 2021 virtual edition of the Lagos Theatre Festival, Cream Body is set in a multi-tenanted apartment known as “face-me-I-face-you.’’ Its haphazard plot structure is developed with the typical inconsequential conversations in a household. A female neighbour has an overbearing attitude towards others in the compound because of her perceived superiority: her light complexion. Of the characters, the most temperamen-

tal is the landlord (Julius Obende), who constantly launches vicious verbal attacks against his tenants, labelling one of the ladies a “prostitute” in reference to her skin tone. Cream Body is just one out of several artistic responses to the discrimination against the black skin. Movies, poetry, prose, podcasts, photography and paintings have explored this issue of black identity. The unfortunate truth is that while a black person may bleach the skin in order to be more acceptable to certain class of people, that identity crisis may still arise in other cultural contexts. The director of the play, Alabi explained the story behind the high tempo drama, which was streamed on Stageplay Africa. “Cream Body is a comedic play with hilarious under-

tones which depicts the daily Nigerian face-me-I-face-you, where all the tenant rush to the bathroom at the same hour of the morning to get to work and avoid traffic,” he said. “The entire play had all its characters clad in white towels with props like buckets, toothbrushes, bathing soap, sponge and cream from the beginning to the end. The goal of the play in the end is for everyone to pay special attention to the skin and be proud of our identity no matter the colour; to shun stereotypes, prejudices and biases based on skin colour.” A Kininso Koncepts Production, Cream Body is one is a series of drama that had been reproduced for virtual audience in the period of the pandemic. Other productions include Talk N Do, Voices of Women, World War, The Uncorrupt and The People’s Court, among others.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ APRIL 4, 2021

CICERO

Editor:Olawale Olaleye mail:wale.olaleye@thisdaylive.com, SMS: 08116759819

IN THE ARENA

ENDSARS/LEKKI SHOOTING

It’s Time for Closure! A recent report by the US government faulting claims that the Nigerian Army killed protesters at Lekki Tollgate during the #EndSARS protests, is not a recipe for closure but could facilitate one, writes Louis Achi

n human affairs, closure means finality – a letting go of what once was. Finding closure implies a complete acceptance of what has happened and transitioning to something new. In other words, closure describes the ability to go beyond imposed limitations in order to find different possibilities. Often, people grieve before they could achieve a sense of closure. But ultimately, justice is the best facilitator of closure. The EndSARS protests, last year, captured a sad human chapter in the troubling evolution of the Nigerian state. It now requires closure. The #EndSARS protests, which triggered unprecedented agitations last year across Nigeria, by young citizens against the brazen, often bloody impunity, of notorious police unit, SARS, ultimately led to a ‘confrontation’ with the military at Lekki Tollgate, Lagos, which claimed some lives – still being disputed. Related to the EndSARS protests, the U.S. Department of States in its 45th annual human rights report released last Tuesday said it could not confirm the accurate figure of casualties from last October’s Lekki tollgate shooting in Lagos during a protest against police brutality. Part of the report read: “On October 20, members of the security forces enforced curfew by firing shots into the air, to disperse protesters, who had gathered at the Lekki Toll Gate in Lagos, to protest abusive practices by the Nigerian Police Force’s Special Anti-Robbery Squad. Accurate information on fatalities resulting from the shooting was not available at year’s end.” It further noted that besides “Amnesty International, which reported 10 persons died during the event, no other organization was able to verify the claim…. “One body from the toll gate showed signs of blunt force trauma. A second body from another location in Lagos State had bullet wounds. The government acknowledged that soldiers armed with live ammunition Governor Babajide Sanwo-Olu at the #EndSARS protest in Lekki tollgate were present at the Lekki Toll Gate. At the year’s end, the in the air. Lagos State Judicial Panel of Inquiry and Restitution continued to contradictory report. “Amnesty International stands by its initial findings that in hear testimony and investigate the shooting at Lekki Toll Gate.” “On the one hand, the report claimed that the members of October we released based on the information that we’re able The US report also added that, “demonstrations were largely the security forces were enforcing curfew by firing into the air to to independently verify as at that time and we’ve continued to peaceful, but some protests turned violent after criminal elements disperse protesters at the toll gate. On the other hand, the report encourage the state government and the federal government to do infiltrated the protests and security forces fired at protesters at the stated that some protesters had turned violent after criminal elejustice by the people,” Ojigho said. Lekki Tollgate on October 20.” ments infiltrated them and so the security forces fired at protesters More…“Amnesty International had asked for independent and Significantly, the US report further challenged the claims by at the Lekki Toll Gate. The report did not mention the detachment transparent investigations into what really happened at the Lekki several international media and organizations like Amnesty of the Nigerian Army, which perpetrated the mayhem”. Toll Gate and we still haven’t seen that and that is what is really International and Cable News Network (CNN) that many had He then queried: “Do soldiers shoot into the air to enforce worrisome especially, because a lot of people will not be able to died during the Lekki tollgate incident. curfew in the United States?” Falana therefore advised the move on until justice is served.” The U.S. report, now in its 45th edition, examines the human Nigerian media to stop treating Nigerians like colonial subjects Going forward, democratic countries must address how best rights standing of 198 countries with a focus on seven sections, by celebrating a foreign report that is subversive of the rule of law they will deal with the human rights crimes committed under its including press freedom, corruption and transparency. in Nigeria. “How can the US government be allowed to treat the watch. Increasingly, claims are made that truth commissions have U.S. Secretary of State, Antony Blinken, announced the publicaproceedings before a properly constituted Judicial Panel of Inquiry beneficial psychological consequences; that they facilitate ‘catharsis’ tion of the report last Tuesday, saying his country acknowledges the so contemptuously? The report is prejudicial in every material to allow the nation to ‘work through’ a violent past. “work ahead and expects all nations to respect human rights and particular”. Calls or the necessity for closure may demand too much psyfundamental freedoms.” On its part, Amnesty International last Thursday said the US chologically from survivors and victims if they are not grounded But there have been pushbacks against the US report. Activist could have taken more time to evaluate all available evidence on justice. Even creating symbolic closures demand symbolic and human rights lawyer, Femi Falana has condemned the report, before publishing its reports on the October 2020 Lekki toll gate justice. The South African Truth and Reconciliation Commission calling it prejudicial, contradictory, and misleading. According to shooting. AI’s Nigeria boss Osai Ojigho said the testimonies of has become the paradigmatic international model of how to ‘work him, the report “attempted to cover up the brutal killings at Lekki witnesses at the Lekki Toll Gate affirmed that soldiers fired live through’ a violent past and in so doing, to ‘heal the nation’. and other parts of Lagos from October 20-27, 2020. It is a very rounds at demonstrators as against claims of firing blank bullets

P O L I T I CA L N OT E S

Tinubu and the Google Vandals

Tinubu

erhaps, Asiwaju BolaTinubu’s“most profound” 69th birthday gift was the locking out of his profile page by Google over alleged“persistent vandalism” after his date of birth was reportedly edited 84 times. What more could have contested with such a gift – from all places – Google? But seriously, that isn’t something to laugh off or gloss over. Rather, it’s a further indictment on the much avowed character deficit of a man seeking to occupy the highest office in the land. From his parentage to his real name, schools attended and actual age, everything about one of Nigeria’s most famous politicians is shrouded either in secrecy or alleged criminality.Yet,

the same man seeks to rule the country. Well, it’s okay forTinubu to seek to be president of Nigeria, after all, he is not an ex-convict in Nigeria as far as the records of the country are concerned. But given all that’s already in the public about him, his desire to run for the highest office in the land as well as the staggering support he has begun to garner says a lot about the Nigerian people. Indeed,Tinubu’s current support base is a referendum on the collective psyche of the Nigerian people.However,if Google can shut down his profile page for the reasons advanced,the electorate can take an even more definitive action,when the time is nigh.The fate of the country is in the hands of her people.Let them deal with it!

THISDAY, THE SUNDAY NEWSPAPER ˾ APRIL 4, 2021

BRIEFINGNOTES Unravelling the Soludo Attack A recent attack on former Central Bank Governor, Prof Chukwuma Soludo, has raised more questions than answers, writes David-Chyddy Eleke

or over two years, some political interest groups in Anambra State had worked to convince a former Central Bank Governor, Prof Chukwuma Soludo to vie for the governorship position of the state. The groups consisting of youths, men and women’s associations, had all along been allegedly self-funded and had on many occasions, paid the Professor of Econometrics visits at his home town, Isuofia, through emissaries and in persons too, all in a bid to get him to accept the charge of running for the Anambra governorship. The Independednt National Electoral Commission had earlier announced that the Anambra governorship election would hold on November 6th 2021, and this has further heat up the state’s polity, with aspirants from several political parties announcing their intention to run for the position, which would be vacant on 17th March, 2022, when the incumbent governor, Chief Willie Obiano would leave office after his two terms of eight years. Soludo was amongst those who declared their intentions to run for the position, presumably heeding the call of the over 24 groups that had been prodding him to do so. During a visit to the secretariat of the All Progressives Grand Alliance to declare his intention, he said he decided to join the race to win the election for the party, stating that the election was very important to APGA, as the party might go extinct if it failed to make it back to the Government House, as Anambra was the only state in the country controlled by the party. His visit might have also thrown a shocker to other aspirants on the platform of the party as it became obvious that all the top shots in the party were behind him. Members of the National Assembly from Anambra State on the platform of the party, who joined Soludo on the visit threw their weight behind him, Soludo saying they would support him to clinch the ticket of the party for the November governorship poll. Hon Chinedu Obidigwe, who represents Anambra East/ Anambra West and spoke on behalf of other lawmakers said, “In 2013, Soludo was disqualified by the party as an aspirant of APGA, and he took it in good faith. He was not among the aggrieved aspirants, who decided to play a spoiler game for the party. We have been begging Soludo to run, and today he has accepted to run. All members of the National Assembly caucus from APGA have resolved that we will support him. Just one or two people person are disagreeing with this, but you know that majority carries the vote.” The declaration and the show of popularity were believed to have caused a massive opposition against soludo’s bid by members of the party, who support other aspirants. On a daily basis, people who have been described as paid writers flood the social media with messages against the former CBN governor, describing him as being too elitist, and warning might not support his aspiration, as he was more favourably disposed to working with only professors, and might likely abandon his supporters if he won. Many people have also described the attack on soludo as being sponsored by aspirants from other political parties, who feared that if soludo clinched the ticket of the party, it might be difficult forAPGA to lose the election, just as it would be easier for other parties to win if APGA fielded a less popular candidate. Thus, on Wednesday night, yet to be identified gunmen invaded the venue of an interactive session between Soludo and youths of his community in Isuofia, Aguata Local Government

Area of the state and disrupted the session with sporadic gunshots, which felled three policemen – aides of the aspirant. The gunmen took along with them a commissioner in Anambra State, who heads the ministry of Public Utilities, Emeka Ezenwanne, said to be an inlaw to Soludo. Though five persons had been arrested so far in connection to the shooting, police authorities are yet to disclose what the suspects gave as the reason for the attack. Spokesperson for Anambra State police command, DSP Toochukwu Ikenga who spoke to THISDAY said the Commissioner of Police, Anambra State Command, CP Monday Bala Kuryas visited Soludo over the attack, and also visted the scene of the attack. A police source added that: “One of the attackers forgot his phone at the scene of the attack, and we found it when the CP visited the place. We tracked down the owner and arrested him, and he is helping us with investigation.” On Thursday, the command announced that four additional suspects were arrested, and they owned up to being part of the attackers. Ikenga, in a press release said, “Police Operatives attached to Anambra State Command today 1st April, 2021 arrested four (4) additional suspects in connection to the recent attack and gruesome murder of three (3)Policemen at Isuofia Civic Center in Aguata LGA of Anambra State. “The suspects are Mbah Victor ‘M’ aged 30years, John Olisakwe ‘M’ aged 21years. Chigozie Omeh ‘M’ aged 20years and Emmanuel Nnobi ‘M’ aged 28years. The suspects confessed to have actively taken part in the attack and subsequent abduction of Ezenwanne, who the command is working assiduously

to rescue.” Since the attack, however, there have been permutations on the reason for it, with two of the permutations standing out as plausible. While some people believed that the attack might have been politically motivated, since Soludo was already enjoying popularity in the governorship race, others thought it might be the same trajectory of series of attacks on security agents, which began in March in Anambra and some other south eastern states. Narrating his experience, Soludo said, “We were having an interactive session and we finished the mass about 4pm and the scheduled interactive meeting with the Isuofia youths. By the way, Isuofia happened to be my hometown. I’m a village boy and this is where I feel safest anywhere in the world. I walk the street, I jog in my community, I take long walk, I am everywhere as a village boy. “With this interactive session, there were over a thousand youths seated and I was just making preliminary remarks to open up the interactive session with other dignitaries from the communities, commissioners and members of the house of assembly. And just as I was about to wrap up and I said, ‘Finally!’ for them to open up for comments and answers, gunshots! At first, I thought may be the policemen were shooting in the air with the kind of exuberance in the hall until I began to hear people screaming and we all scampered to safety. “It took more than 10, 15 minutes of continuous gun battle. By the time we all came back, we saw three bodies there lying in the pool of their blood – they were the three policemen. May God grant their souls eternal rest. We will continue to pray and support their families. I was totally unhurt, not in anyway hurt,” Soludo said. On whether it was politicall motivated, he said: “I am friend with everybody contesting the office. I don’t think the office is worth the blood of even a chicken let alone a human being. I will be shocked that it was politically motivated and that it was aimed directly at me.” Though the ball is now in the court of the security agencies to disclose what the attackers said was the reason for their action, it might have also prepared Soludo for what lies ahead. Soludo is not new to such attacks. During a recent meeting with journalists, he narrated how he got 19 threat messages after the CBN under him announced the intention to recapitalize the financial base of banks in the country. He stated that attempts were made to kidnap his children from a school in Offa, Kwara State. His words: “You know it is not easy to change an existing order. There was nothing I did not see. I received 19 written threats to my life. Even there were attempts to kidnap my children at Offa in Kwara State. So, it was a very brutal revolution. I had to evacuate my family to be able to do the banking consolidation, because when you want to uproot a system, it is usually a deadly routine.” Today, Soludo has returned with plans to ensure that the 50 years development plan of the Anambra State government, which he graciously chaired it’s committee, is implemented. This (governorship) for soludo may be another “uprooting of existing order”, which he has acknowledged is a dangerous venture. When THISDAY visited him recently at his Isuofia home, Soludo refused to speculate on the possible reason for the attack, saying he would rather leave that to the security agencies to unravel.

NOTES FOR FILE

That CCT’s Assaulting Statement

Umar

One of the few Nigerians, who had proven unworthy of their current postings is the chairman of the Code of Conduct Tribunal, Danladi Umar. Apart from lacking colour and carriage, he has least shown requisite capacity, not to talk of allegations of corruption that had since trailed his continued stay in office. However, if there were reservations about his qualification for his current job as the CCT chair, he gave the most fitting answer, last week, after he was caught on camera assaulting a security man at a popular plaza in Abuja. But, if assaulting the security man was all that the public had to deal with, perhaps, this intervention would have been needless. Umar, through his spokesperson, Ibraheem Al-Hassan, also

assaulted and ultimately murdered the English language in their response. The whole of the statement was fraught with such grammatical errors that a 7th grader shouldn’t make.The embarrassing errors included: “video cliff” instead of “video clip”; “packing lot” instead of “parking lot”; “rode” instead of “rude” and “fixe” instead of “fix”, amongst several other poor sentence balancing that dotted the statement. Although Al-Hassan would later come to explain away some of the content of the statement, unfortunately, that afterthought couldn’t do much in terms of damage control. Yet, the takeaway is constant: that Umar and his team are unfit for that critical office. That was one assault too many!

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ APRIL 4, 2021

CICERO/TRIBUTE

In Life’s Adversity, He Made A Difference Louis Achi and Segun James pay tribute to the spokesperson of Afenifere, Comrade Yinka Odumakin, who passed on yesterday after a fierce battle with Covid-19

ormer French president, Giscard D’Estaing’s counselled political leaders that, “There can be no response to history without effort.” D’Estaing’s sage counsel was clearly inspired by the environment of the human crises that defined his era. He was born during the First World War and fought in the second bloody, global conflagration. Of the few Nigerians, who took this free historical advisory seriously, Mr. Yinka Odumakin – cultural icon, activist and politician – was one. For a nation in the harsh throes of change, mirroring contrived crises of different colourations traversing the political, socio-economic and religious spheres, one Nigerian that gave so much of life, seeking to aid the birthing of transformative change was Yinka Odumakin. Yesterday morning, Saturday, April 3, 2021, Odumakin joined his ancestors, treading the path of all mortals. He died of complications from coronavirus disease, at the Intensive Care Unit (ICU) of the Lagos State University Teaching Hospital (LASUTH), Ikeja, Lagos. A statement issued by his grieving wife, Dr. Joe OkeiOdumakin, noted that the late journalist-turned politician “was managed for respiratory issues due to complications from COVID-19, which he had recovered from about a week ago.”

His Life and Times… Born on December 10, 1966, Odumakin hailed from Moro, Ife North Local Government Area of Osun State – same town, where the Special Adviser to the President on Media and Publicity, Femi Adesina, hails from. He studied English Language at the University of Ife, now Obafemi Awolowo University (OAU), Ile-Ife and graduated in 1989. While at the university, he served as the public relations officer of the university’s students’ union. He was employed by The Punch Newspaper as a reporter, and later joined The Guardian Newspapers. Odumakin resigned from the Guardian in 1993 and established Effective Company Limited, a media and publishing company in partnership with fellow journalist and a former schoolmate, Femi Ige. Odumakin was part of the National Democratic Coalition (NADECO) that fought the regime of the late military head of state, Sani Abacha, after the annulment of the June 12, 1993 election. In pursuit of an old desire for a new Nigerian state, he also participated, alongside his wife, in the National Conference, convened by President Goodluck Jonathan, which held in Abuja in 2014. Odumakin, who was appointed the spokesman for the presidential campaign of President Muhammadu Buhari in 2011, later turned his back on Buhari in 2015, when he supported then outgoing President Jonathan. As National Publicity Secretary for the Yoruba socio-cultural organisation, Afenifere, as in his many feisty engagements, he wielded power with fetching humility and exemplary focus. He demonstrated that journalism, activism, culture and politics fundamentally address transformation of the human condition for good. A man of strong convictions, he mostly took pretty few prisoners in his many bruising fights. In 1997, Odumakin married his lovely wife and fellow activist and blessed with children.

His Many Fights Odumakin has fought the biggest political figures and tendencies without any let up. He has engaged President Muhammadu Buhari, Asiwaju Bola Ahmed Tinubu, the Arewa Consultative Forum (ACF) and many others. He fought around a consistent theme: a new Nigeria. But in death, his erstwhile antagonists graciously recognise his convictions and merit. Odumakin and Tinubu, who had worked together during the days of NADECO, broke up irreconcilably. Odumakin once alleged that Tinubu was working for the late Abacha and was a fake democrat. His words: “You were with NADECO and also in bed with Abacha through whom you forged a friendship with the Chagourys, who are your business partners till date.” he wrote in an open letter to Mr Tinubu in 2019. More, Odumakin stated that a former governor of Lagos, Akinwumi Ambode, “spent his life running errand for Tinubu but still got humiliated.” He was never a supporter of Tinubu’s 2023 presidential ambition and even accused Tinubu of lying over his age. A former Buhari’s spokesman, he later became an acerbic critic of his administration, when he came into power in 2015. He boldly scored Buhari low on his handling of national challenges, especially, the herder-farmer crisis, corruption, insecurity among others. His words: “We had thought that if he comes to power, things would improve. But in the last three and a half years, not one thing has been done to improve our electoral process. In fact, things have gotten worse.” He was one of the advocates of national restructuring and he

Odumakin believed till the point of death that restructuring is the answer to the survival of the Nigerian state. According to him, those against restructuring are those benefitting from the ‘failed’ arrangement in the country “which favours few against the majority”. In 2019, Odumakin stated that, “The way forward is clear, at 59, there are two options for Nigeria, to reset and go back to default, which is restructuring. Let’s go back to what our founding-fathers agreed. When we do this, there is a chance for Nigeria to survive but if we continue the way we are going, that would be disintegration.” Odumakin also saw as a waste of time and resources in the Amotekun idea. Hear him: “You are in bondage; in a cage, and instead of looking for your freedom, you are looking for something else. Which ‘ekun’ (lion) are you looking for? You are in a cage, and instead of you looking for freedom, you are looking for a shortcut in Amotekun. Which ‘ekun’ does a rat want to know?

Tinubu’s Statesmanlike Reaction… But like a true statesman, former governor of Lagos State, Asiwaju Ahmed Bola Tinubu, who Odumakin engaged in one of his long bruising political face-offs brushed aside his pitched battles with the fallen politician and paid him a touching homage. In a statement on Saturday, Tinubu described Odumakin as a committed fighter for democracy, dedicated civil society activist, courageous and outspoken defender of whatever ideals and principles he believed in. He said Odumakin remained fearless and unrelenting in speaking up in promoting the cause of justice and what he perceived as the best interest of the citizens of Nigeria. Tinubu recalled Odumakin’s participation in the various students and youth struggles against successive military dictatorships in the 1980s and 1990s. “In the process, he was arrested, harassed and even detained several times. Yet, he never allowed himself to succumb to tyranny or be pressured into submissive and pliant silence. “In the struggle against the annulment of the June 12, 1993, presidential election and the perpetuation of military dictatorship, Odumakin was never found wanting. He was at the vanguard of the battle even at the risk of his life and liberty.” According to Tinubu, the late activist never held public office, but was a constant feature and part of the public consciousness over the

last two decades of Nigeria’s unbroken democratic dispensation. “He epitomised the true definition of the citizen; a patriot, who was ever conscious of the fact that his life could not be complete or his humanity meaningful if he did not take an active interest in and join like-minded fellow citizens in seeking to always promote the common good of his community and country.” President Buhari has also condoled with the family, friends and acquaintances of Odumakin, describing him as dutiful, and a person of conviction. Buhari expressed sorrow at his demise, “especially at a time when he had a lot more to contribute to society and the nation at large.” Many prominent Nigerians have paid their tributes to Odumakin. Indeed, no society can live without its dreamers and achievers. It’s perhaps in recognition of this that a former US First Lady, Eleanor Roosevelt observed that, “The future belongs to those who believe in the beauty of their dreams.” Odumakin certainly did. He was a mettlesome politician with a good dose of swagger. At times when there is palpable decline of faith in the nation’s common destiny, his peculiar energy and imagination represented a beacon of hope. His was the fearless voice that spoke abrasive truth to power. Like an adroit alchemist, he wove a delicate balance between the ethics of journalism, activism, politics and conviction. He deeply shared with his compatriots in the dream of a new, prosperous, secure and equitable society. In truth, certainly, this is not merely a pious wish, but a necessity and imperative for civilised survival. In the troubled evolution of the Nigerian state, while some forces remained apostles of socio-political stagnation and retrogression, others represented untiring catalysts for progressive change. Odumakin belonged to the later class. Clearly, he was not a saint and never claimed membership of that arcane group. But then sainthood is not one of the parameters for assessing or picking individuals, who give their life in the fight for human liberty and freedom. For being a key provider of clear, pragmatic leadership during periods of self-doubt by a citizenry under contrived political siege, in his beloved Yorubaland, he certainly will occupy a high pedestal in its lore – as well as in larger Nigerian state. In life’s adversity, he certainly made a difference.

THISDAY, THE SUNDAY NEWSPAPER ˾ APRIL 4, 2021

BOOKREVIEW

Leaving The Tarmac: Buying A Bank In Africa selected from the best schools around. The MBA module has some of the banks policies and credit focus embedded in it. Estimated at Two million naira (N2,000,000.00) (USD 15,000) per candidate, the programme comprise 15 examinations and case studies. Candidates must pass all. Pass mark is 65 percent.

Augustine Isioma Iwelu

eaving the tarmac; buying a bank in Africa by Aigboje Aig Imoukhuede is a story in risk taking, enterprenuerialship, genuine business partnership, strategic international alliance and passion for a professional career in banking. The book highlighted the issues encountered during the bank’s mergers and acquisitions processes in Nigeria and some of the banks acquisition in Africa. It also situated the growth of Access Bank in the complex process of growth and strategies to manage each challenge as they occur. Written in simple language, explains the dynamics of Access Bank growth under his watch as the Group Managing Director. The seventeen-chapter book touched on major regulatory policies and development in Nigerian financial market. In the beginning. Armed with a Law degree from University of Benin and after a year stint at Continental Merchant Bank as a legal officer, which he started in 1988, Aigboje Aig Imoukhuede moved to Prime Merchant Bank. Some professionals who were at Continental Merchant Bank left to set up Prime Merchant bank. He was called upon to join the bank. Aigboje was Inspired by the zeal and success story of Otunba Subomi Balogun who is the first Nigerian to promote a bank without government or foreign support. Subomi Balogun, in 1979, applied for a merchant banking license to establish First City Merchant Bank. Otunba Balogun on his part was inspired by the pedigree and entrepreneurial drive of London based investment banker , Sir Siegmund George Warburg, who co-founded S.G. Warburg, he visited Warburg in London prior to establishing his merchant bank. Sir Warburg passed in Oct 1982 while Otumba moved on with the operations of his new bank in 1983. Balogun started a new model of owner managed bank in contrast to the government owned banks at the time. In the book, Aig equally appreciated the career trajectory of Jim Ovia, Fola Adeola, Atedo Peterside and Keem Belo Osagie. As he was nursing the idea of acquiring a bank in year 2000, he needed a partner and he found one in Herbert Wigwe and this formed “four eyes “of leadership instead of two according to Aig on his choice of a business partner. Banking in the 1990s… The fragile Nigerian economy had some 140 commercial and merchant banks in business in 1991. This was in response to the economic liberalization policy of the General Ibrahim Babangida. Two banking ownership models held sway then. It was either the bank was promoted by some godfathers and a professional Managing Director would be hired to drive the growth or some professionals obtained the banking license and manage it themselves. While formal was easier to promote because of funding, the end results are usually not heathy. Aigboje opted for the second model. The owner manager. ” the owner/managers were insulated from the need to depend on a godfather, free to express their entrepreneurial and managerial visions and they then worked hard to bring them to function” he mentioned in his book. Access Bank Group is a commercial bank with leveraged buyout, private equity, mergers and acquisitions themed expansion drive. This has played out severally in their growth strategy locally and internationally from year 2002 till date. Inﬂuenced by two great books A lover of books, Aigboje was partly influenced by the classic work of Rick Rickersten and Robert Gunther. Aig had read the book and internalized the outlines enumerated by the authors. Rickersten had identified key stages of a standard. Management Buy Out. These stages were equally separated and treated in each chapter. They are as follows; have a dream and be bold, find or create an opportunity, develop a business plan, strike an agreement with the seller and make a deal with the equity investor, arrange bank financing, compete due diligence and close the deal. Build the company and exit, then take the money and do it again. Released in March 2001, titled Buy out; the insider’s guide to building your company. Rickersten s books is a standard text for Private Equity practitioners globally. Coincidentally, the acquisition of Access Bank was made 12 months after the official of Rickerstens Buy Out. Another great book which influenced Aigboje was written by Andrew Grove, titled Only the paranoid survive. In that book, Andrew Grove wrote that;” the things I tend to be paranoid about vary. I worry about products not getting screwed up, and I worry about products getting introduced prematurely. I worry about hiring the right people and I worry about morale slacking off. And, of course, I worry about competitors. I worry about other people figuring out how to do what we do better or cheaper, and displacing us with our customers:” Andrew Grove was at a time, President at Intel. In his book,

Pan African Expansion The Pan African Expansion of Access Bank Group birthed in The Gambia in 2006 as the first subsidiary to open shop, soon Sierra Leone, Zambia and Rwanda in quick succession. Chapter 13 is basically on international expansion. The high point of this chapter is the experience encountered with the acquisition of Omini Finance in Cotedivoire in year 2008. From 2008 to 2013 when the bank exited, Access banks presence in Cotedivoire was characterized with regulatory challenges, staff’s connivance and poor performance, serious efforts were made to revive the bank but it was grossly resisted. “we experience first hand problems that cultural differences can cause a business and I must say I am yet to fully understand the logic behind Coted ivoires law” Aig mentioned. Banking regulation in French speaking West African countries can be tasking while the labour law / country employment terms of engagement is highly staff protective especially when such senior professionals work under the Contrat a duree indeterminee; permanent contract (CDI) terms. The complex regulatory structure and composition coupled with country specific laws contributed in no small measure to the banks exit. Intercontinental Bank Acquisition. A major local acquisition that tested Aig’s leadership capacity is the Intercontinental Bank. The transaction attracted big attention. Chapter fourteen is dedicated to the entire activity. Intercontinental Bank merged in 2005 with three other banks where its shared similar shareholders. They are Equity Bank, Global bank and Gateway Bank. The post-merger integration was not a smooth sail despite initial similarities communicated or assumed to the outside world. Grove advocated that a leader must be restless and constantly paranoid. In the book, Grove also maintained that his new way of measuring the nightmare moment every leader dread when change occurs is through the Strategic Inflection Points. According to Grove, Strategic Inflection Point can be set off by almost anything; mega competition, regulation, or technology. “When strategic inflection point hits, ordinary rules of business go out of the window” Access Bank Acquisition In the late 90s Access Bank Plc like most banks operating in Nigerian financial market then had regulatory challenges. The Central Bank of Nigeria had initiated an investigation with respect to foreign exchanges infractions. This affected their operations, customers perception and morale to do more business. In year 2001, Access Bank embarked on capital raising through public offer, the strategy was to raise about One billion naira(N1,000,000,000.00) (USD 9 million) at an exchange rate of N110 to one USD then. The offer for subscription was grossly under subscribed as the deadline of the offer beckoned. This was a major issue for the advisers, promoters, board and management of Access Bank Plc; this unfortunate development on the side of the bank provided a golden opportunity for Aigboje and Herbert Wigwe to strike. With the assistance of the frontline investment banker, deceased Albert Okumagba, they charted a course, defined strategy and mopped up the unsubscribed shares. The acquisition and approval from regulatory were easy, the complex part was driving the business and presenting a unique value proposition to customers already being serviced by leading banks. Value Chain Banking Business Model Chapter Four is the most interesting aspect of the book because it explained a unique market entry strategy deployed by Aig and Herbert, given the banks limited resources at its embryonic acquisition. They opted for Value Chain Model. They pitched to manufacturers, distributors, ware house operators, retailers and major dealers of global system for mobile communications service providers in Nigeria. Value Chain model in banking reviews the entire production and distribution chains from source of materials to consumers business mechanism. It identifies the gaps and proffers solutions on how to either improve revenue or reduce cost drastically. It required a detailed thought process and seamless execution. Not many banks want to ply that route then. Access School of Banking Excellence Running a forward-looking bank with clearly defined growth paths need human resource who will buy into the vision. This led to the idea of operating the most advance training school ever in the history of Nigerian banks. Chapter Seven narrate the rationale behind Access School of Banking Excellence. A four-month training programme, it is also a mini MBA module with local and foreign faculty

Integrating culture, people and technology Acquiring banks to scale their growth was the easier part for Access Bank, integrating people to align with processes, culture and policies is the most complex aspect of mergers. Integration cost and its consequences partly account for the major reasons why many banks shy away from mergers and acquisition. The Intercontinental bank merger with three other banks in 2005 still continue to play some negative developments until 2012. “to accommodate its different 2005 merger partners, Intercontinental Bank adopted a decentralized approach to decision making, which exposed the bank to significant operational risks. Its operations were quite inefficient and uncompetitive’’. Access Bank inherited this abnormal development and the bank suffered a major setback post integration. Chapter eleven and twelve practically concentrated on governance structures deployed by the bank, qualities they look out for when appointing directors, risk management strategies and the banks numerous executions in sustainability and responsible banking practices. Minor gaps The author did not mention the promoters who contributed the balance eight hundred million naira (N800,000,000) (USD7,300,000) for the purchase of Access Bank shares on offer in year 2001. 20 percent of the required amount was raised by Aig and Herbert, who are the individuals, family, friends and investors who raised the balance 80 percent of the required amount? The investors and promoters of Access bank are at liberty to disclose or not to disclose. On page 158, precisely in the second paragraph and second sentence, it was written that Intercontinental bank merged with three other banks in 1995.The merger occurred in 2005. However, this was corrected in page 170, second paragraph and also, in the second sentence when it stated that Intercontinental Bank merged with three other banks in 2005. Recommendations The book is recommended for business owners, entrepreneurs and top executives who are at various stages of their career. It is a must read for businesses thinking of regional expansion in Africa especially in French speaking West Africa countries. The books will be valuable for consultants who train management on strategy and market entry models and those who facilitates sessions on company retreats and year end panning period. Above all, the books will be ideal for specific Africa themed business cases especially for the popular Harvard Business School course: Doing Business in Africa and the Lagos Business School adaptation of same. ––Augustine is the CEO of ZDMS Advisory. ZDMS is an economics consulting and Strategy firm in Lagos. Augustine has qualifications in Economics, Managerial Psychology and Corporate Governance and has consulted widely for financial service companies.

SUNDAY APRIL 4, 2021 • T H I S D AY

THISDAY, THE SUNDAY NEWSPAPER ˾ ͼ˜ ͰͮͰͯ

NEWS

News Editor: Gboyega Akinsanmi E-mail: ÑÌÙãÏÑË˛ËÕÓØÝËØ×Ó̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×˜͸΀͹ͽͺͻͽ΁ͺͽͻ

Report: Forex, Inﬂation Becloud Nigeria’s Growth Outlook Warns COVID-19 may impede economic recovery Says S’Africa, Egypt face uncertain economic future

Gboyega Akinsanmi Rising inflationary pressures and tighter foreign exchange liquidity, among others, are beclouding Nigeria’s economic growth projected at 1.5% in 2021, the United Nations Department of Economic and Social Affairs (UN-DESA) has said in a new report. UN-DESA, a pioneer of sustainable development and the home of the Sustainable Development Goals (SDGs), warned that the new surge of COVID-19 might impede the country’s medium-term economic outlook with the poor access to the vaccines. It expressed these concerns in the World Economic Situation and Prospects 2021, a world economic report UN-DESA produced in partnership with the United Nations Conference on Trade and Development (UNCTAD) and five regional commissions of the United Nations. In its 198-page report that analysed the world economic situation and forecast prospects country by country, the department noted that all African states were experiencing an unprecedented economic downturn with major adverse impacts on the long-term development of the continent. Among the largest economies, the report observed that Nigeria was dealt a severe blow by the twin shocks of low oil prices and COVID-19-related restrictions. In 2020, the report acknowl-

edged that GDP “is estimated to have contracted by 3.5% per cent, amid lockdowns, lower oil production and weak oil prices.” Although output was projected to expand by 1.5 per cent in 2021, the report predicted that tighter foreign exchange liquidity, mounting inflationary pressures and subdued global and domestic demand “are clouding the medium-term outlook.” The report, similarly, x-rayed how the crisis dealt a major blow to labour markets; and in 2020, unemployment rates increased across the continent, especially in urban areas. However, the report observed that the nature of its impact “has been heterogeneous across the continent, being dependent on the severity of the downturn and the stringency of containment measures.” As the COVID-19 discouraged some workers from job seeking, the report noted that the size of the labour force “has declined in large economies, such as Nigeria and South Africa, which can have longer-term consequences for potential growth and fiscal revenues.” In Nigeria, specifically, the report noted that the unemployment rate had risen to 27.1 per cent by June 2020 and later to 33.3 percent by December 2020 Notably, the report observed that the number of Nigerians, who are unemployed, “stands at about 23.187 million, which exceeds the figure for the population of any one of more than 30 countries on the continent.”

Providing an overview of African economic status the report said the lower external demand and lower commodity prices, the collapse of tourism and lower remittances-exacerbated through the institution of much-needed domestic lockdowns and other measures required to control the spread of COVID-19 caused a severe and widespread deterioration of the economic situation. After a strict lockdown, which led her economy to contract by what is estimated to have been

7.7 per cent in 2020, the report said GDP “is projected to expand by 3.3 per cent in 2021.” However, the report observed that the growth projection, like the case of Nigeria, “is uncertain whether, amid power shortages, elevated public debt and policy challenges, a strong and sustained recovery will materialise in the medium-term. “Raising potential output in South Africa is a step critical to tackling the strong impacts of the crisis on the labour

market,” UN-DESA said in its comprehensive report. In the case of South Africa, the report noted that the number of employed persons declined significantly throughout 2020, with the unemployment rate climbing to a record-high of 30.8 per cent in the third quarter. Specifically, the report further clarified that if renewed supply disruptions and financial turbulence were to emerge, the inflation outlook could worsen. In this regard, it warned

that aggregate inflation trended upward in 2020 as a result of exchange rate depreciation in domestic currencies and food price inflation associated with supply disruptions in Nigeria, South Sudan, Sudan and Zimbabwe. In Egypt, the report noted that higher fiscal expenditures supported by foreign currency financing secured through multilateral institutions and an easing monetary stance helped prevent a contraction on a yearly basis in 2020.

CONGRATULATIONS. . . L-R: Kwara State Governor, Mr. Abdulrahman Abdulrazak; wife of the celebrant, Mrs. Kemi Kareem; Olubadan of Ibadanland, Oba Saliu Adetunji; 13th Emir of Kano, Alhaji Sanusi Lamido; wife of Olubadan, Olori Rasheedat and newly Installed Agba-Oye of Ibadanland, Chief Orikolade Kareem during Kareem’s installation in Ibadan, Oyo State... yesterday

Ekiti Didn’t Divest from Wema Bank, Says Govt Victor Ogunje in Ado Ekiti

The Ekiti State Government yesterday denied that it sold off 666.670 million of its 1.191 billion shares in Wema Bank Plc, saying it neither partially nor wholly divested its interests from the bank. The state government clarified that it only transferred 666.670 million shares to Ekiti Fountain Holdings, a business and trading bureau the administration of Dr. Kayode Fayemi set up to effectively

manage the state’s investments. The Commissioner for Information, Mr. Akin Omole made this clarification in an interview with THISDAY yesterday while dispelling reports that the state government had reduced its stake by 666.670 million in Wema Bank Plc. Reports had claimed that Ekiti, one of the shareholders of Wema Bank Plc, had recently reduced its stake in the bank by 666.670 million from 1.191 billion shares. In a notification to the

Nigerian Stock Exchange (NSE) by its Company Secretary, Mr. Johnson Lebile, the bank had said Ekiti had sold N666.670 million shares at 65 kobo per share on the floors of the NSE, amounting to N433.336 million. The notification revealed that the transaction took place between March 3 and 4, which brought the stakes of Ekiti State to 524.1 million shares as against 1.191 billion it previously had. Faulting reports of the state’s divestment from the

bank, Omole explained that the state government only transferred the shares to the Ekiti Fountain Holdings, a business and trading bureau owned by the state government, for proper management. The commissioner said Ekiti Fountain Holdings was saddled with the responsibility of handling business interests on behalf of the Ekiti State Government, noting that Wema bank was also part of the mandate the outfit was to oversee.

He said: “Ekiti didn’t divest its interest or shares from Wema bank, either partially or wholly. What we did was to transfer the shares bought by Ekiti State in Wema to Ekiti Fountain Holdings for proper management. “The government of Ekiti has no interest in running any business and that was why we created the holdings to handle government investments like private ownership. “Like it was applicable to Wema Bank, so was it in the

Nigerite Limited, Wemabod Estates Limited and other investments the state had in Odu’a Investment Company Limited and other private investments of the government. “So, what happened was that Wema had officially transferred the shares to Ekiti Fountain Holdings to manage. We did that because there had been some neglect in the past when the government has no separate department or agency managing its business interests or investments.

Senator Blames FG for Federal Odinkalu, Osori Ask Appeal Court to Set Aside Libel Judgment Lawmaker’s Death Seriki Adinoyi in Jos and Udora Orizu in Abuja

A member of House of Representatives representing Jos North/Bassa Federal Constituency, Mr. Haruna Maitala Friday passed on in a fatal road accident along the Abuja-Jos expressway. Maitala’s passage elicited anger and disappointment among the people of Plateau State yesterday with the Senator representing Plateau North, Istifanus Gyang ascribing it to the failure of the federal government to construct the expressway.

Tobi Soniyi

These were revealed in separate statements by Maitala’s media consultant, Mr. Joseph Adudu and Gyang’s media assistant, Mr. Musa Ashoms. In his own statement, Adudu said: “This is to announce the death of Honourable Haruna Maitala which occurred April 2 as a result of a fatal road accident on his way to Jos from Abuja. “Until his death, Maitala was the member representing Jos North/Bassa federal constituency in the National Assembly. He would be buried this morning according to Islamic rite.” Describing Maitala’s death

as shocking and devastating, Gyang lamented that the road crash would not have happened if the Abuja-Jos expressway was not deplorable. Gyang noted that Maitala’s death brought “to the fore the deplorable state of our road infrastructure, particularly the Jos-Akwanaga, Jos-Barde-Keffi highways and the need for reconstruction by the federal government.” The senator noted that the deceased had a gentle, steady and unassuming personality, and related well with his colleague legislators.

A former chairman of the Governing Council of the National Human Rights Commission, Prof. Chidi Odinkalu and Ayisha Osori have asked the Appeal Court to set aside a judgment of a Rivers State High Court which found them liable in libel in a suit filed by a former governor of Rivers State, Dr Peter Odili. In an amended notice of appeal filed by their lawyer, Adeyinka Olumide-Fusika, SAN, the two human rights activists said the trial judge, Augustina Kingsley-Chukwu erred in law

when she failed to strike out the plaintiff’s suit for want of jurisdiction. They argued that the publisher of the book - Kachifo Limited, and the place of publication which is 253 Herbert Macaulay Way, Yaba, Lagos, as well as the authors of the book were outside the territorial jurisdiction of the Rivers State High Court. The appellants also stated that the trial court misdirected itself in fact when, in order to to justify the territorial jurisdiction it assumed and exercised, it held that the witnesses called by the plaintiff bought and read the

book even when the witnesses failed to give evidence of where they bought the book. They stated that the respondent sued them as authors, and not as publishers of the book. Justice Augustina KingsleyChukwu had found Odinkalu and Osori liable of defaming Odili in their book, ‘Too Good To Die’ published in 2018. The judge consequently awarded the sum of N250 million against them. Dissatisfied with the judgment, Odinkalu and Osori have appealed to the Port Harcourt Division of the Court of Appeal.

THISDAY, THE SUNDAY NEWSPAPER ˾ ͼ˜ ͰͮͰͯ

NEWSXTRA Only Electronic Voting Can Guarantee Credible Election in 2023, Says Senior Advocate Ugo Aliogo A former National Legal Adviser of the All Progressives Congress (APC), Dr. Muiz Banire (SAN) has asked President Muhammadu Buhari to sign the Electoral Act Amendment Bill, 2018 to guarantee transparency in the 2023 general election. Without a credible and transparent process in 2023, the senior advocate warned that the country might force a teeming number of its frustrated

youths to the Diaspora. He expressed this concern in a statement he issued on Friday, tasking the National Assembly to revisit the Electoral Act Amendment Bill, 2018 and transmit to the president as early as possible. Banire urged the federal government to learn from the Nigerian Bar Association (NBA), which despite allegations of vote manipulation had made steady progress with each election, since it introduced

electronic voting. He noted that a combination of both manual and electronic modes be adopted in elections, adding that internet availability is still relatively low, especially the bandwidth. He said: “There is hardly any significant coverage in the rural areas and the country cannot afford to exclude this sizable number of Nigerians from exercising their franchise. “This factor played out in the 2019

general election. The Independent National Electoral Commission (INEC) promised to deploy electronic voting across the country and suddenly realised that it was just being unduly ambitious in view of the limitations confronting availability of the Internet in most parts of the country.” However, the senior advocate argued that if it was possible to effectively use satellites to power the process, the advocacy for manual voting in this regard might be dis-

Stakeholders Lament 300% Rise in Cost of Printing Papers Oluchi Chibuzor Stakeholders in the printing industry yesterday lamented that the prices of printing papers had risen by 300% in the last one year, thereby causing much damage to the industry. Consequently, the stakeholders agreed to set up a price modulating committee with the mandate to determine and regulate the prices of printings papers on a monthly basis.

President of Chartered Institute of Professional Printers of Nigeria (CIPPON), Mr. Olugbemi Malomo and Chairman of Paper Importers Association (PIA), Mr. Bayo Abdul revealed this plan at an emergency fact finding stakeholders’ meeting in Lagos. Among others, Director, Printing and Paper Group, Lagos Chambers of Commerce and Industry (LCCI), Princess Layo Okeowo and Deputy Director, Paper, Pulp, Wood and Industrial Development, Ministry

of Industry, Trade and Investment, Mrs. Olumuyiwa Ade-Ajayi were part of the stakeholders’ meeting. At the meeting, stakeholders in the industry had expressed their frustrations on how they had lost businesses, incomes and investments due to unstable prices of printing papers nationwide. Malomo told journalists that the decision was necessitated by the daily increase in the cost of papers, which has risen above 300% in recent times and had caused a

lot of damages to the printing industry. Speaking on uncertainties that cloud the industry, Malomo described it as a threat to national security, saying the cost of papers was leading to increase in unemployment. CIPPON’s president said: “It is also depriving our young ones of education as most parents will not be able to afford books when school resumes next session,” he stated.

Sterling Bank Reports 16% Proﬁt Growth in 2020 Chibuzor Oluchi

Despite the adverse effect of the Covid-19, Sterling Bank Plc has reported a N12.4 billion profit before tax (PBT). The lender reported the profit before tax on gross earnings of N138.9 billion in the financial year ended December 2020 compared to a PBT of N10.7 billion on gross

earnings of N150.2 billion in the same period of 2019, representing a 15.9% growth. In response to the pandemic and expected credit losses, Sterling Bank proactively increased the cost of risk by 10 basis points to 1.0% while moderating the Non-Performing Loan ratio downwards by 30 basis points to 1.9%. Commenting on the results,

the bank’s Chief Executive Officer (CEO), Abubakar Suleiman said: “2020 was an extraordinary defined by the global pandemic. COVID-19 disrupted society and severely impacted economic activities. “And during the year, we channelled our resources towards empowering our stakeholders to respond to the unprecedented disruption while supporting them

to adapt to new banking methods through novel platforms like OneBank and Pay with Specta.” Reflecting market dynamics influenced by the pandemic, the managing director said Sterling Bank’s NIBSS Instant Payments and transaction volume grew by 89.4% compared to the previous year on the back of investments in digital platforms.

pensed with. Banire said: “I read about 50 companies jostling for the contract for the introduction of electronic voting system to the electoral process via the procurement process of INEC and I was elated. “Among the 50 bidders, I believe that a company with capacity for electronic voting will emerge. If this is eventually so, I fully support the introduction of electronic voting systems in the entire country. “This will, among others, enthrone some measure of transparency in the country’s electoral system; eliminate thuggery that leads to voter apathy; reduce, if not totally eliminate money politics, as money could not be received. “Electronic voting will allow a

person’s conscience to thrive and prevail. Electronic voting will also eliminate multiple voting and tampering with electoral materials.” He further explained that electronic voting will enable more informed people to participate in elections as opposed to the present system where the majority of the voters determining the leadership of the country are largely uninformed, endangering all of us. He added that most elite “avoid going out to vote due to fear of political thugs and other miscreants whose bread is often buttered by unscrupulous politicians to facilitate electoral manipulation and are always ready and available to unleash mayhem to secure victory for their sponsors.”

Nigeria Won’t Drop AstraZeneca COVID-19 Vaccine, Says FG Onyebuchi Ezigbo in Abuja The National Primary Health Care Development Agency (NPHCDA), the focal agency responsible for the deployment of the COVID-19 vaccines, has said that the country will not stop the use of Astrazeneca vaccine. In a statement by NPHCDA’s Head, Public Relations Unit, Mohammad Ohitoto yesterday, the agency said many countries around the world are administering the Oxford/ AstraZeneca vaccine, including much of Europe, and United Kingdom which have administered the most doses of AstraZeneca globally. The statement said: “Nigeria

is continuing in the process of administering roughly 4 million doses of the Oxford/AstraZeneca vaccine, beginning with our frontline health workers and vulnerable individuals. There has been no change to current plans or supply.” He said the World Health Organization, (WHO), British and European health regulators all have continued to advocate for the use of AstraZeneca. “AstraZeneca’s strong effectiveness against COVID-19 has been demonstrated in clinical and human trials: it has been shown to be 76% effective at preventing COVID-19 and 100% effective at preventing severe disease and hospitalisation.

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Ten Unbelievable Things about Nigeria

issonance. Is that the right word to describe the contradiction between word and action? Like the man putting up a “No Smoking” sign while a slowly burning stick of cigarette is trapped between his lips? There are too many things I cannot understand about my country. They look so simple, so commonsensical and so doable — like plucking low-hanging fruits — that they shouldn’t elicit any argument or foot-dragging. Yet, for decades on end, government after government, president after president and governors after governors keep going in circles. They will proclaim one thing as policy and do everything possible to undermine it. Is it an IQ problem? Or wickedness? Or blindness? Or plain incompetence? I will highlight just 10 of these unbelievable things today. Heartbreaking! One, getting a certificate of occupancy (C of O) is hell. In a country of 200 million people with an unemployment rate of over 30 percent and a worsening crime rate, the least commonsensical thing you expect of government is to make life as simple as possible for private businesses so that they can create jobs, add value and accelerate economic growth. Not in my Nigeria. A simple C of O that can enable entrepreneurs use landed property as collateral for loans is the most difficult document to get in many states. This locks down billions of dollars in the real estate – with the multiplier effects hurting several other sectors of the economy. This is to say nothing about planning permits and ridiculous building charges that make life even harder for the entrepreneur. Dissonant! Two, we want to create jobs but kill small businesses. Small and medium-sized enterprises (SMEs) are the engine room of economies. That is where the jobs are. For instance, SMEs represent 95 percent of all businesses in the EU — and, overall, 85 percent of the jobs in Europe. In Nigeria, we claim we want to create jobs and combat crimes — but it is like you are committing a crime when you open a little shop. Rather than help you find your feet or leave you alone, government agencies will come after you with hefty levies and AK-47. You would think you have just killed somebody. The federal capital territory is the most notorious in this war against SMEs. I have written a million times on this malady and I will not stop until we have listening and reasoning leaders. Counterproductive! Three, we can neither import nor export without tears. We import virtually everything we consume. That is a fact known worldwide. Common sense dictates that we should be able to import hassle-free to save our lives. Some of the most traumatic and chaotic ports in the world are located in Nigeria. Your goods can be stuck agonisingly for months, accumulating demurrage and extortion. Our neighbours also depend on imports but their ports are far more efficient. Government after government, nothing has changed. Now, don’t let us even talk about exports. We say we want to promote non-oil exports, but it would have been easier for my great grandmother to pronounce “cushion chair” than for you to export a bag of ginger. We can’t import. We can’t export. Absurd! Four, we owe pensioners N30,000 and pay N200 million severance to fat cats. After you have been governor (minister, commissioner or whatever) for four or eight years and stolen billions and bought up all the houses in Dubai and Grenada, you will still get a severance pay running into hundreds of millions – as well as a pension package that includes a mansion in the state capital and another in Abuja, with three new cars every three years — in addition to cooks, gardeners, drivers and all what not. Yet a retiree who served for 35 years (and is now treating

President Muhammadu Buhari diabetes and hypertension) is owed a pension as little as N30,000 a month! What kind of society is this? This is one of the most unbelievable things about Nigeria. Man to man is so unjust, in the words of Bob Marley. Wicked! Five, we collect so much biometric info but millions of crimes remain unresolved. The government captures our fingerprints in at least seven ways, namely: (1) voter registration (2) driving licence (3) SIM registration (4) BVN (5) national ID (6) pension verification and (7) integrated personnel and payroll information system (IPPIS). There is every chance that the government has the key biometric information on robbers, murderers, kidnappers and terrorists. In advanced societies, this is a huge bank for security agencies to resolve crimes. In Nigeria, the SIM card info is about the only thing that police find useful – and that is to track kidnappers. Pray, does the police force of the world’s largest black nation even have a modern forensic lab? We are just collecting biometric data for fun. Baffling! Six, we have multiple security desks at international airports. I must first acknowledge that after decades of complaints, the security agents at check-in counters of international airports no longer require you to open your suitcases for inspection. They now do that with scanning machines. This has reduced the stress. However, it is a thing of shame that two officials – one from the Department of State Services (DSS) and the other from the Nigerian Immigration Service (NIS) – still have to check your travel documents at the points of departure and arrival. This is a waste of time and personnel. I travel quite a lot and I must confess that Nigeria is the only country that does this. In nearby Ghana, only one immigration official checks your documents. Isn’t NIS also a security agency? Shallow! Seven, political cases always get priority in court. In a country that cares about the lives of its citizens, the justice system will no doubt prioritise issues that affect them. In Nigeria, though, it is always political cases that get quickly dispensed with by the courts. Politicians are enjoying everything at our expense. Two courts can grant different injunctions on the same issue within one hour of each other. But thousands of human rights cases that will benefit ordinary Nigerians will go on for decades untouched and unresolved. There are thousands awaiting trial and vegetating in police cells and prisons all over Nigeria. Courts keep adjourning. Let a politician bring a frivolous case asking for the opponent to be disqualified and the court will sit and decide same day. Mindless! Eight, some Nigerian missions abroad are a big disgrace. Have you tried calling the Nigerian high commission in the UK recently? There are

eight numbers listed on the website but none is working. It either doesn’t ring or nobody picks. What does it take to answer phone calls? You can even create a call centre in Nigeria to be answering calls on behalf of our missions abroad. We will be creating jobs for young people as a result. I can understand if it is difficult for us to invent a telephone — that requires some IQ. But take phone calls? How simple can things get? Phone calls, of course, are the least of the complaints. To apply for a passport is not something you want to do at some of our foreign missions. Well, your foreign mission is only a reflection of your country. Shameful! Nine, we outsource bureaucratic work to rent collectors. One of the biggest scams producing overnight billionaires is the menace of “commission agents” — they do what government agencies were set up to do and end up collecting outrageous commissions. One company was to collect $2.15 billion to help us “calculate” arrears from oil production sharing contracts (PSCs). All the information is with FIRS, NNPC and DPR. For using their calculators, the agents were to pocket over $2 billion in a country that does not have drugs in public hospitals! Somebody else is waiting to be paid $3.2 billion for helping states “calculate” Paris Club refunds. A private company was pocketing billions for doing a “secure anchorage” job on the high seas — a clear mandate of the Nigerian Navy. Fraudulent! Ten, FEC meeting is always about awarding contracts. When you hear that 10 million children are out of school, you would think that this is what the next federal executive council (FEC) meeting would spend hours on, discussing the tragedy and working out policy responses. You are deceiving yourself. When the meeting is over, the press conference is all about announcing contract awards. This has been the shameful tradition since 1999. Can you imagine the cabinet of any serious country announcing at the end of its meeting that it has just approved the award of contracts to supply trashcans to the capital city? We have done that before! FEC is all about contracts, contracts and more contracts! These things look little but they say a lot about the quality of thinking. Tragic! This list is by no means exhaustive, so you are free to add yours. Back to my question: most of these things look so simple to address, but why are we not making the necessary changes? For instance, what is so difficult about making sure C of O is issued seamlessly to unlock the endless economic benefits — if not that something is wrong with us? Why do we need to pay anybody billions to calculate Paris Club debts due to states and councils or how much oil companies owe in PSC arrears — if not that we are a bunch of unpatriotic people? Why should giving incentives to SMEs — so that we can tackle our huge unemployment burden — be such a big deal? If we can’t help them, must we hurt them? Is it an IQ problem? Or wickedness? Or blindness? Or plain incompetence? Unbelievable! Caution: if you read this article and think I am suggesting that the Nigerian case is hopeless, then you are not reading between the lines. In fact, these are the things that give me hope: that it does not take much to make Nigeria a better place for the citizens. Just very simple things. Little tweaks here and there. All we need do is use our brains and put the interest of the country above other considerations. There is nothing I have listed here that will require an Albert Einstein or a Lee Kwan Yew to do. It is just common sense. Bits and pieces that can move mountains. And herein lies my unbreakable optimism: that someday, we will have the much-desired competent and patriotic leadership with the simple understanding that changing Nigeria is not rocket science. Hopeful.

And Four Other Things… CODE OF MISCONDUCT Mallam Danladi Umar, the chairman of the Code of Conduct Tribunal (CCT), has been caught in a storm after a viral video appeared to show him assaulting a security guard. I have read accounts, including an official statement from the CCT, and I must say every bit is disgusting. Is it the suggestion that Umar was too big to be asked to obey parking rules? Or the disturbing ethnically charged use of “Biafran” in an official communication from a federal government official? Or the assault on grammar in the press statement? In a civilised society, Umar should have quit or the national assembly would have started the process of removing him by now. But this is Nigeria. Sigh. YOU’RE ON CAMERA The Lagos government has equipped its lawenforcement agencies with body cameras in yet another first among Nigerian states. According to Governor Babajide Sanwo-Olu, the body cam is intended for use to enhance safety as well as increase transparency and accountability in the activities of the agencies. However, I see a situation where if properly managed, the body cams can go beyond the intended purpose by also providing footages that can help resolve some issues, including robbery and missing persons. Lagos plans to deploy digital tools for security operations across the state. Since 1999, Lagos has always shown an appetite for innovation and modernisation. Kudos. SILENCING SOLUDO Prof Chukwuma Soludo, one of Nigeria’s leading lights, narrowly escaped death on Wednesday when gunmen attacked him at a town hall meeting as he prepared to launch his governorship campaign in Anambra state. Am I surprised? No. The Nigerian political culture is steeped in violence. One of the requirements to be a Nigerian politician is to have your own armed thugs and militias — both for offensive and defensive purposes. It is that bad. There is something fundamentally wrong with us in Nigeria. It is so sad that three policemen were killed by the assailants but we have to be thankful that Soludo is still alive. I hope Soludo will not be intimidated out of the race. Courage. FFK AND THE JAB Chief Femi Fani-Kayode, former minister of aviation, is a known COVID vaccine conspiracy theorist. He had consistently advocated against taking it — in the belief that Bill Gates had something evil in his mind against Africans. Surprisingly, he has changed his mind and taken the jab. Rather than disparage him, I think we should commend him for being honest and open about his change of mind. Even President Donald Trump took the jab, despite the stance of his eccentric followers. Some of these pastors and governors pretending to be anti-vaccine have probably flown to Dubai and taken the jab secretly while their gullible followers will continue to worship and defend them. Hypocrisy.

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