MONDAY 13TH JULY 2020

CBN, Banks Commit N25bn to National Theatre, Others’ Upgrade Obinna Chima The Central Bank of Nigeria (CBN) and banks under the aegis of the Bankers’ Committee yesterday unveiled plans to spend about N25 billion as initial funding on the development of Nigeria

Creative Centre at the National Theatre, Lagos and three other major cities in Nigeria.

The other cities are Kano, Port Harcourt and Enugu.

The CBN Governor, Mr. Godwin Emefiele, spoke on the initiative in Lagos yesterday, during the official handing

over of the National Theatre in Lagos to the Bankers’ Committee for renovation and upgrade.

Others in attendance at the event were the Minister of Youth and Sports, Mr. Sunday Dare; Minister of Information and Culture,

Alhaji Lai Mohammed; the CEO, Access Bank Plc, Mr. Herbert Wigwe; Lagos State Governor, Mr. Babajide Sanwo-Olu, his deputy, Dr. Obafemi Hamzat, and other top officials of the Lagos State government.

Emefiele thanked President

Muhammadu Buhari for approving the handing over of the edifice and its adjoining land to the Bankers' Committee.

According to him, by his action, the president has demonstrated that he recognises that a renovated

National Theatre and the complementary facilities that will be built along with it will help in unleashing the creative talents of Nigeria’s youths across multiple sectors and in supporting Buhari's objective Continued on page 36

N'Assembly Gets Revised PIB in Two Weeks, Says Sylva... Page 8 Monday 13 July, 2020 Vol 25. No 9226. Price: N250

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Revealed: Magu Failed to Submit EFCC Audited Accounts for Four Years Annual report not submitted to N’Assembly in four years contrary to law Ribadu, Farida, Lamorde in full compliance SAN seeks bail for suspended anti-corruption chief Kingsley Nwezeh in Abuja The suspended Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, failed to submit the audited accounts of the anti-graft agency to the National Assembly as required by law, THISDAY learnt at the weekend as critics say he took advantage of the non-confirmation of his

appointment by the Senate to avoid accountability leading to his current woes.

By Section 37 of the establishment act, Economic and Financial Crimes Commission (Establishment, ETC) Act 2004, the commission is required to submit its report, including its audited account to the National Assembly Continued on page 36

APC Govs, Party Leaders Meet over Edo Election Tomorrow

Another chieftain challenges caretakers' legitimacy in court

Iyobosa Uwugiaren, Deji Elumoye, Alex Enumah in Abuja and James Sowole in Akure All Progressives Congress (APC) governors and top leaders of the party will meet with the Edo State governorship candidate, Mr. Osagie Ize-Iyamu, in Abuja tomorrow, to review

the preparations for the September 19 election and fine-tune strategies on how to win the poll.

But the internal wrangling within the party has continued unabated as one of its chieftains, Mr. Kalu Agu, has instituted a court action challenging the dissolution of Continued on page 37

REVAMPING NATIONAL MONUMENT...

L-R: Minister of Information and Culture, Alhaji Lai Mohammed; Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele; and Lagos State Governor, Mr. Babajide Sanwo-Olu, during the handover of the National Theatre facilities to the CBN and Bankers Committee for revamping and development in Lagos…yesterday

Ondo Assembly Returns to Drawing Board over Deputy Gov’s Removal... Page 5

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

Ondo Assembly Returns to Drawing Board over Deputy Gov’s Removal Ajayi hails CJ’s decline of lawmakers’ request

James Sowole in Akure The Ondo State House of Assembly has said that it will return to the drawing board to perfect its plans to remove the state Deputy Governor, Mr. Agboola Ajayi, from office.

The Chairman of the House Committee on Information, Hon Gbenga Omole, told THISDAY yesterday that the legislature had noted the observations of the Chief Judge, Justice Oluwatoyin Akeredolu, who last week declined the Assembly's request to him to set up a panel to look into allegations of misconduct against Ajayi.

Ajayi, however, hailed the decision of Justice Akeredolu, saying it has “rekindled the confidence and hope of the people in the judiciary as a bulwark against tyranny and totalitarianism."

Reacting to Justice Akeredolu's refusal to set up a probe panel, Omole said the lawmakers had noted “some technical errors” in their letter to the chief judge and would address the lapses.

According to him, the Assembly “would do the needful and dispatch another letter appropriately.”

Omole, who did not say when further action would be taken, however, added that the decision to remove the deputy governor was in line with the responsibilities of the Assembly.

The Speaker, Hon. Bamidele Oleyelogun, in a letter dated July 7, 2020, had asked the chief judge to constitute an investigative panel to look into the allegations of gross misconduct levelled against the deputy governor.

Fourteen out of the 26 members of the House had signed the notice of removal and directed that it should be served on the deputy governor by the Clerk of the House, Mr. Bode Adeyelu.

The 14 lawmakers, among others, accused Ajayi of gross misconduct, including defection from the All Progressives Congress (APC) for the Peoples Democratic Party (PDP) on June 21, 2020.

But immediately the notice was signed, another nine members of the House dissociated themselves from the removal process, which they said did not follow due process.

Sequel to the resolution of the House, the speaker wrote a letter to the chief judge to set up a seven-man panel to investigate the allegations against the deputy governor.

But Justice Akeredolu, in a four-page reply to the speaker, drew his attention to Section 188 of the 1999 Constitution (as amended), which states how a governor or deputy governor can be removed from the office.

Section 188(2) reads: “Whenever a notice of any allegation in writing signed by not less than one-third of the members of the House of Assembly. “(b) stating that the holder of such office is guilty of gross misconduct in the performance of the functions of his office, detailed particulars of which shall be specified, the Speaker of the House of Assembly shall, within seven days of the receipt of the notice, cause a copy of the notice to be served on the holder of the office and on each member of the House of Assembly, and shall also, cause any statement made in reply to the allegation by the holder of the office, to be served on each member of the House of Assembly.

"The notice to be served on him must state that he is guilty of gross misconduct in the performance of the functions of his office and must specify the particulars of the gross misconduct and that he must be allowed to respond to the allegations.

“Within the 14 days of receipt of the Notice by the Honourable Speaker, whether or not the deputy governor responds, the House of Assembly shall pass a resolution supported by not less than two-thirds of the majority of all the members of the House of Assembly that the allegation be investigated."

But the chief judge said the lawmakers had not completed

all the constitutional process that would inform setting up of a seven-man panel to investigate the allegations against the deputy governor.

She also made reference to a letter she received from Kayode Olatoke (SAN), “which letter tells me clearly that the matter of impeachment of Hon. Alfred Agboola Ajayi, deputy governor of Ondo State is sub- judice.”

Ajayi Hails CJ’s Decline of Lawmakers’ Request Meanwhile, Ajayi yesterday hailed the refusal of Justice Akeredolu to set up a panel to investigate him, saying her decision has “rekindled the confidence and the hope of the people in the judiciary as a bulwark against tyranny and totalitarianism."

Ajayi, in a statement entitled: "Epochal Pronouncements of Ondo State Chief Judge on the Illegal Removal Move: There is Hope," and signed by his

Media Adviser, Mr. Allen Sowore, commended the courage of Justice Akeredolu for standing by the rule of law "His Lordship leaves no one in doubt about the need to adhere strictly to the provisions of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and due process in a modern democracy,” he said, adding: "The decision is a triumph for the rule of law against brigandage and anarchy.”

He said with the decision, the judiciary of Ondo State had demonstrated its independence and made a clear statement about its commitment to secure and sustain the principles and lofty ideals of constitutional democracy.

"We are reminded of the triumph of the human spirit across the age against totalitarianism and encouraged to bring to life the progressive provisions of our constitution that are antidotes to satanic demagoguery and maximum leadership," he said.

Sowore said the deputy

governor was humbled by the epochal decision and he was reinvigorated to continue to stand for the good of the people as the arrowhead of the move to return the government to where it rightly belongs – the people of Ondo State.

He said: "It's in this light that we demand the immediate resignation or removal of the inept and mediocre speaker of Ondo State House of Assembly, Hon. David Oleyelogun, whose incompetence has brought the exalted parliament into disrepute.

"This will go a long way to preserve our democratic gains, restore the dignity of the legislature and the principle of separation of power."

Ese-Odo APC Asks Deputy Governor to Resign Meanwhile, leaders of APC in Ese-Odo Local Government Area of Ondo State have called on the deputy governor to resign having dumped the

party that brought him to power.

Ese-Odo is the home local government of the deputy governor.

At an enlarged party meeting held at Igbekebo, the local government headquarters, the leaders flayed Ajayi for staying put in office after castigating the party that brought him into office.

The meeting was presided over by the APC House of Assembly Deputy State Chairman, Hon. Agabra Atili, and attended by notable leaders including Commissioner for Information and Orientation, Mr. Donald Ojogo; and Deputy Chief of Staff to the Governor, Mr. Jimi Kuforiji, among others.

The meeting expelled the House of Assembly member representing Ese-Odo Constituency, Hon. Success Torhukerijor, for anti-party activities and misrepresentation of the APC. Both motions were moved

by Hon. Richard Omosehin and seconded jointly by Ojogo and Hon. Corporal Nanaopiri.

DISENTANGLING A MESSY AFFAIR...

Minister of Niger Delta, Senator Godswill Akpabio (left), and Chairman, Ad -hoc Investigative Committee on Niger Delta Development Commission, Senator Adetunbi Olubunmi, during a two-day public investigative hearing by the committee on alleged financial recklessness at the NDDC in Abuja…weekend julius atoi

Dasuki Denies Campaigning for Buhari against Jonathan in 2015 Davidson Iriekpen A former National Security Adviser (NSA), Col. Sambo Dasuki (rtd), yesterday denied reports that he discreetly campaigned for the All Progressives Congress (APC) and its candidate, President Muhammadu Buhari, while serving as President Goodluck Jonathan’s NSA in 2015.

Dasuki said as the NSA between 2012 and 2015, he never campaigned for the APC or Buhari, in whatever shape or form before, during or after the 2015 presidential election.

In a statement yesterday, the former NSA said he was only involved in the unsuccessful attempt at forging an alliance between the Action Congress of Nigeria (ACN), All Nigeria Peoples Party (ANPP) and the Congress for Progressive Change (CPC), prior to the 2011 elections.

He noted that at the point of his accepting the appointment to serve as NSA in 2012, he told Jonathan that he had a relationship with Buhari of CPC, Senator Bola Tinubu of ACN and Dr. Ogbonnaya Onu of ANPP, among other opposition elements, and

that his appointment would not cause him to sever the relationship.

Dasuki among others was said to have introduced Buhari to the then leader of ACN, Tinubu, on the planned political alliance prior to 2011 presidential election.

It was also alleged that Dasuki, Malam Adamu Adamu, the current Minister of Education; Malam Kabir Yusuf, the publisher of Daily Trust; and Mr. Wada Maida, former Chief Executive of the News Agency of Nigeria (NAN), visited the APC national leader in Lagos,

before the 2011 polls.

But Dasuki said: “My attention has been drawn to a false report to the effect that I discreetly campaigned for Buhari and his party, APC, while I was serving as President Jonathan’s National Security Adviser.

At first I found the report too ridiculous to take serious but on second thought, I felt it would be appropriate not only to debunk it but to put the records straight especially in view of politics of mischief and character assassination that is unfortunately the norms today.

“The truth is that I was involved in an attempt at forging an alliance between the ACN, ANPP, and CPC among others prior to the 2011 elections, which was not successful. My involvement in that political process ended after the elections of 2011.

“At the point of accepting the appointment to serve as National Security Adviser (NSA) in 2012, I made it clear to President Jonathan that I had relationships with General Buhari of CPC, Tinubu of ACN and Onu of ANPP, among others opposition elements and that

my appoint would not cause me to sever the relationship.

I, however, assured him that I would never betray him.

As a man of honor, I kept to my words.

“Therefore, as NSA between 2012 and 2015, I never campaigned for APC or its candidate, Buhari, in whatever shape or form before, during or after the 2015 presidential election.

“I never worked at cross purposes with my boss, President Jonathan, as being recklessly insinuated by mischief makers on their blogs and social media.”

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N’Assembly Gets Revised PIB in Two Weeks, Says Sylva Puts value of AKK pipeline, LNG Train 7 at $50bn Emmanuel Addeh in Abuja Minister of State for Petroleum, Chief Timipre Sylva, has said that his ministry will within two weeks transmit the revised Petroleum Industry Bill (PIB) to the National Assembly for passage into law.

He also put the value of the recently inaugurated Ajaokuta-Kaduna-Kano (AKK) gas pipelines and the Train 7 Nigeria Liquefied Natural Gas (NLNG) projects at $50 billion.

Sylva, in an interview on ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers, added that 2020 remains “the year of gas” and with the expected passage of the PIB, the industry would attract more investment.

He said: "It (the PIB) has not been watered down. I don't know who has seen the bill.

It's still in draft. It has gone through several modifications.

That's the whole idea. You can't change the laws very easily.

"It tells you that when we are able to pass the bill, it won't change for a long time because it has taken us about 20 years to get to where we are. It's now ready to go to the National Assembly. But it has not been watered down.

"Everything has been done

in the national interest and in the interest of Nigeria and we are hoping that in the next two weeks, we will be ready to go to the National Assembly, and then people can talk. Before seeing the bill, you can't say it has been watered down.

"It's a bill at the foundation of the main industry. There are lots of parts to it: community, government, industry, everybody's interest has to be accommodated.

"We have been able to take a lot of interests on board. Not everybody will be on the same page. There's no way government and private sector will be on the same page 100 per cent, but what we have tried to do is to narrow the gap as much as possible.

"Right now, we are ready to go to the National Assembly, so we can get this bill passed."

The minister also said the Train 7 project would boost Nigeria’s liquefied natural gas (LNG) output by more than 30 per cent while the AKK pipeline project would transport natural gas from Ajaokuta, in Kogi to Kaduna and Kano, and through some states and urban centres, as part of the Trans Nigeria Gas programme.

Sylva added that modular refineries would not solve

Nigeria’s petrol supply challenges as they are not structured to serve large markets.

“This has been a good year for gas, especially with the overwhelming support of President Muhammadu Buhari.

We have achieved quite a bit.

We have achieved the FID (Final Investment Decision) of train 7 and the flag-off of the AKK pipelines.

“These are two major projects valued at about $50 billion or so and that's quite a lot at this time of COVID-19 and we are proud of that,” he said.

He noted that apart from the opportunities that will come with the AKK project, which is now a backbone from the south to the north, it will also, create a development corridor for the industry.

Speaking on the increase in the pump price of petrol, Sylva said there was nowhere in the world where prices were solely decided by marketers, despite the recent deregulation of the downstream sector.

“So, we will not allow consumers to just wake up and set prices. Diesel was deregulated a long time ago.

Before then, it always was cheaper than petrol, but today it has hit the roof. If we allow it, petrol will also get to that level.

“But what we are trying to do is to ensure that government plays its traditional role of regulation,” he explained.

The minister also said that Nigeria is currently developing its local content in the petroleum industry to avoid being stranded when major issues that would lead to the evacuation of expatriates arise.

Sylva said: “I will say that

if we ever needed to develop local content, there's no better time to do that because, with COVID-19, it could have been a disaster.

“Every country evacuated its citizens. For example, in the oil industry, expatriates mostly were evacuated by their countries. So, you were left with Nigerians who were evacuated from other countries as well.

“So, more than ever before, there is a need to develop local content. We are not taking it lightly, there's an agency for that purpose.”

COVID-19: NMA to Prosecute Kogi, Cross River HealthPandemic, Commissioners he delivered on the Alex Enumah in Abuja The Nigeria Medical Association (NMA) at the weekend said it would prosecute the commissioners for health in both Kogi and Cross River States over alleged unethical conduct in the fight against the spread of COVID-19.

The association said before their formal trial in court, the two commissioners would first face a probe panel put in place by the Medical and Health Council of Nigeria for allegedly obstructing the activities of the Nigeria Centre for Disease Control (NCDC) in their respective states.

National President of the Nigeria Medical Association (NMA), Professor Innocent Ujah, explained that the two commissioners had been reported by the NCDC to the Medical and Health Council for allegedly playing politics with human lives in the two states.

Ujah noted that some doctors have to be sanctioned and made to face trial in competent courts, adding that by their training, doctors are expected to be objective on issues affecting the well-being of humanity.

Ujah, a former DirectorGeneral of the Nigeria Institute of Medical Research, said the posture of the two commissioners to the national efforts to control and curtail the pandemic was not only worrisome but unethical.

Speaking at a lecture with the theme: Social Organisations, Human Rights and Covid-19

22 Anniversary and Founders Day Celebration of the Peace Corps of Nigeria, Ujah noted that contrary to the erroneous impression created by the two commissioners, there are abundant medical evidence showing the prevalence of the disease in the two states.

He said the denial of the presence of COVID-19 in the two states was politicallymotivated and unethical on the part of the two commissioners.

"The truth of the matter in this country today is that COVID-19 is real. It has come and it is throwing this nation into a big mess.

"It is a known fact today that the greatest challenge to humanity is the coronavirus.

We do not need to wait until we begin to see dead bodies on our streets before we believe that the disease is with us.

"Regrettably, no age group is spared, the virus is just attacking anybody and we need to take adequate precautions to contain the virus because it may take a long time to get its vaccine", he said.

He commended the federal government for opting out of this the year's WAEC examination, adding that it will be a national tragedy to allow children to be infected by the disease.

Ujah also praised the Peace Corps of Nigeria for its active support to the federal government in the fight against COVID-19 and called on other youth-based organisations to emulate the corps.

HEALTH INSURANCE FOR THE PEOPLE...

L-R: Ekiti State Governor, Dr. Kayode Fayemi; his wife, Bisi; and Commissioner for Health and Human Services, Dr. Moji Yaya-Kolade; during the launch of the State Health Insurance Scheme in Ado Ekiti…weekend

Police Rescue American Hostage in Lagos Hotel Kingsley Nwezeh in Abuja The police at the weekend rescued an American who was held against her will by internet fraudsters for one year in a Lagos hotel.

This comes as operatives of the Nigeria Police Cybercrime Unit, and the INTERPOL National Central Bureau (NCB), Abuja, have arrested three suspects, Samson Inegbenesun , 30; Blessed Junior, 32 and Muhammed Zakari, 36; all male from Uromi in Edo State for cyber-related offences, including advance fee fraud, money laundering and romance scam.

The American, who hails from Washington DC in the United States, is a retired civil servant.

She arrived in Nigeria on February 13, 2019, on a visit to one Chukwuebuka Obiaku, 34; a native of Ikeduru Local Government Area of Imo State whom she met on Facebook.

A Police Force Headquarters statement said she was rescued by police operatives attached to the Intelligence Response Team (IRT), Ogun State Annex following information received

from a patriotic Nigerian in Meiran area of Lagos State.

The rescue of the American lady is coming on the heels of a similar case of abducted Philippino lady who was lured to Nigeria by her supposed lover whom she equally met on Facebook.

"Investigations revealed that the suspect, Chukwuebuka Obiaku, is a graduate of Business Administration and Management and an internet fraudster who has defrauded many unsuspecting members of the public both locally and internationally.

The police stated: "Chukwuebuka deliberately lured the victim into the country under the pretext of love and deceitfully married her on May 15, 2019. He subsequently held her captive in a hotel, extorted from her monies amounting to a total of $48,000.

"He also forcefully(sic) collected and took control of her credit and debit cards as well as the operation of her bank accounts, including the receipt of her monthly retirement benefits and allowances over the period of fifteen (15) months.

"Chukwuebuka also used the

victim as a front to defraud her associates and other foreign personalities and companies."

Meanwhile, the fraud suspects were arrested in Uromi, following investigations into suspected fraudulent online procurement and supply of COVID-19 protective mask received through the INTERPOL NCB Wiesbaden, Germany.

Investigations revealed that Samson Inegbenosun is an internet fraudster and a member of a Turkey-based online scamming syndicate.

He supplied foreign and local bank accounts to receive fraudulent funds and use same as a conduit to other feeder accounts.

The police recovered from him a building apartment worth N20,000,000, a Toyota RAV-4 2015 model worth N6,500,000.00 and a Toyota Matrix 2002 model valued at N2,000,000.00, which he procured with the proceeds of the crime.

The statement signed by Force PRO and Deputy Commissioner of Police (DCP), Mr. Frank Mba, said the second suspect, Blessed Junior, returned to Nigeria from Italy in February, 2020 but

maintained close contacts and illicit dealings with his Italian associates.

Investigations revealed that he has made over N120,000,000 from internet fraud and other cybercrime dealings.

He also received the sum of 52,000 euros recently from his criminal associates in Italy as commission for his active involvement in an international cybercrime deal.

He also owns a filling station established with the proceeds of the crime.

Mohammed Zakari, an expert in internet fraud, identity theft and impersonation, falsely claims to be a British citizen. He also poses to be one Kelly Galk on online dating apps which he uses to carry out romance scams and to defraud unsuspecting members of the public, locally and internationally.

Investigation revealed that he made millions of naira from his illicit cybercrime transactions since he joined the syndicate.

Mba said all the suspects would be charged to court on conclusion of the investigation and prosecuted in line with the Cybercrime Prevention/ Prohibition Act, 2015.

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Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

Power Play and Magu’s Troubled Tenure at EFCC Nseobong Okon-Ekong, Segun James and Kingsley Nwezeh write that the recent arrest and subsequent removal of Ibrahim Magu as the acting Chairman of the Economic and Financial Crimes Commission has political undertone that may be shrouded in corruption allegations

Buhari

Osinbajo

Tinubu

Magu

T

he arrest, detention and suspension of Mr Ibrahim Magu as Acting Chairman of the Economic and Financial Crimes Commision (EFCC) marked the end of a 10-year controversial working career at the anti-graft agency.

Prior to his appointment as the head of the agency, Magu’ s deployment to the agency under its first Chairman, Mallam Nuhu Ribadu ended in controversy.

Magu had served as Deputy Director and Head of Economic Governance under Ribadu.

He also served as Deputy Director Internal Affairs department under the headship of Ibrahim Lamorde.

On assumption of duty, Ribadu’s successor, Mrs Farida Waziri, ordered a search of Magu’s residence.

Magu was subsequently suspended for 20 months.

In response to a query from the Attorney General and Minister of Justice, Abubakar Malami over missing EFCC files Magu said: “It is true that my residence was searched on the orders of Mrs. Farida Waziri, shortly after she succeeded Mallam Nuhu Ribadu as Chairman of the EFCC and some documents relating to cases under investigation were found in my house.

“At the time of the raid, I was yet to formally hand over to my successor, Umar Sanda, as Head of the Economic Governance Unit. My schedule at the time warranted that I work round the clock and it was impossible to conclude all assignments without working at home. He

argued that “the documents found in my house were actually found in my office bag where I kept documents relating to investigations.

I was in the process of handing over and it would be wrong to suggest that I willfully kept the Commission’s files at home.

“Nevertheless, the incident was thoroughly investigated by the Police as I was placed on suspension without pay for 20 months. But in the end, I was reprimanded, recalled and promoted to Assistant Commissioner of Police”.

Confirmation Saga On assumption of office, the crisis continued.

In 2015, when President Muhammadu Buhari sent his name for confirmation as substantive chairman of EFCC, the then Lawal Daura-led Department of State Security (DSS) dug in with a security report aimed at halting his confirmation.

The 8th Senate relied on the report of the DSS to deny Magu confirmation.

The arrest of Magu provided another spectacle.

The action was unexpected and spontaneous. The chairman of the EFCC was not only arrested but under investigation for corruption. It was an unfathomable prospect. Will Magu escape with his reputation untainted? Only time will tell. For once, the official line had a ring of truth in it. After denials of arrest by the Department of State Security and the Police, the presidency admitted that Magu was under interrogation for corruption. It was a sad end for him.

The anti-graft crusade under him is doomed as it has also signaled a sad end to much touted anticorruption profile of the Federal Government

Magu will go down in history as the only head of the commission that operated in acting capacity for five years.

Curiously, the 9th Senate which seems to be enjoying a closer rapport with the executive arm and easily disposed to his confirmation never received any nomination to that effect by the President until his arrest.

Fire-fight of Power Blocs and Entitlement Mentality There have been charges that Magu’s travails were the offshoot of a gritty power tussle within government.

A school of thought believes that the brawl by the power blocs from the president’s zoneNorth-west and North-east was still ongoing.

They easily refer to the clashes in 2019 between the Kaduna State governor, Nasir el-Rufai and the late Chief of Staff to the President, late Mallam Abba Kyari.

It also argued that the DSS report by Daura (North-west) against Magu (North-east) and the the memo by the AGF, Malami that led to Magu’s present travail tows the same line.

A similar clandestine fight played out in the military at a point when the Army Chief, Lt General Tukur Buratai, from Borno and the Chief of Air Staff, Air Marshal Sadique Abubakar allegedly jostled for the office of the Chief of Defence Staff when it was thought that the president would let the service chiefs go.

“In Nigeria, there’s is this entitlement mentality that when a president is in power, our ethnic group is in charge.

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MONDAY DISCOURSE

Lamorde

Ribadu

Waziri

El-Rufai

“In this government, some people can’t understand why key positions went to the North-east.

“Some of them from the North-west queried why key positions like Chief of Staff to the president, Head of EFCC, NSA, Army Chief and Head of NNPC should go to one zone while they are in power,” a source familiar with the development said.

The adage that one man’s hero is another man’s scoundrel cannot be more true than in the case of the former acting Chairman of the Economic and Financial Crime Commission (EFCC), Madam Ibrahim Magu, who not too long ago was the anticorruption czar of the Federal Government.

If there was a chance that last week would be a turning point in the ever deepening mistrust and distrust among people in government, the arrest of Magu provided another spectacle. The action was unexpected and spontaneous. The chairman of the EFCC was not only arrested but under investigation for corruption. It was an unfathomable prospect. Will Magu escape with his reputation untainted? Only time will tell.

For once, the official line had a ring of truth in it. After denials of arrest by the Department of State Security and the Police, the presidency admitted that Magu was under interrogation for corruption. It was a sad end for him. The anti-graft crusade under him is doomed as it has also signaled a sad end to much touted anticorruption profile of the Federal Government.

The chairman of the anticorruption agency under corruption investigation? What specific charges and who was involved in the act? That was the situation until reports have it that Magu had implicated Vice President Yemi Osinbajo in a N4 billion bribery scandal.

But following the report, a member of the investigating committee said Magu has described the report as false, pointing out that Magu does not have access to such huge amount of cash. He reportedly said he did not order the transfer of N4billion to the Vice President or to anybody and demanded the matter to be clarified.

Also, following N4billion allegation, the vice president wrote to the IGP Adamu to clear his name. Osinbajo in the letter through his lawyers, Taiwo Osipitan, petitioned the IGP to investigate the allegations, adding that the claims were not true and defamatory. Abubakar Malami, the attorney-general of the federation

and minister of justice, was also copied in the letter.

The vice president’s spokesperson, Laolu Akande, dismissed the report describing it as fake news. Akande said the report was “calculated to confuse and concocted to smear” the vice president’s image, adding that Osinbajo will “never be involved in any such shady activities”.

The implication of Osinbajo immediately brought to the fore that the investigation of Magu may have political undertone as the race for the 2023 presidential ticket of the All Progressives Congress (APC) hots up. Magu may have become a pawn and scapegoat in the political trajectory playing out in the country.

Since President Buhari will be ending his second term and will not be eligible for another term, the battle now is concerning who will succeed him. This is where Magu’s fate was sealed.

According to the rotational system of the party, the next candidate for the party must come from the south. Due to the fact that the party has never been able to make any appreciable inroad in both the southeastern and south-south states, it is assumed that the presidential ticket of the party will automatically pass to the southwest. This is where the intrigues begin.

The man who controls the political trajectory of the southwest region is Asiwaju Bola Ahmed Tinubu, the man who was reputed to

have engineered the formation of the APC and under whose political machinery the party was able to wrest control of the leadership of the nation from the opposition Peoples Democratic Party (PDP). His alleged ambition to be the next president after Buhari is now the bane of the crisis in the APC. Politics of the past, present and the future in Nigeria swirls around the presidency. Now the focus is 2023 and how the APC is going to weather the storm towards the proverbial year is the issue the party’s politics.

The belief before now is that the north would allow for a southwest ticket given the support the region gave the north in the last two elections, but recent action in the polity suggests that this may not be.

The party is now faced with a power struggle between those who believe in the sacrosanct of this gentleman’s arrangement and those tho believe that the north should still hold on to power for another 16 years. How easy this is going to be will be depended on the capacity of who is presented by the south and who will lead the executive committee that is put in place by the party leadership in January 2021.

Succession is a nasty business. During the five years of Buhari’s presidency, the south has been complaining of ethnic and religious favoritism towards the north. He has received scanty and contrasting reviews of his performance both at home and abroad. Much as he had received some praises for some policies, he

There have been charges that Magu’s travails were the offshoot of a gritty power tussle within government.

A school of thought believes that the brawl by the power blocs from the president’s zone-North-west and North-east was still ongoing. They easily refer to the clashes in 2019 between the Kaduna State governor, Nasir el-Rufai and the late Chief of Staff to the President, late Mallam Abba Kyari. It also argued that the DSS report by Daura (North-west) against Magu (North-east) and the the memo by the AGF, Malami that led to Magu’s present travail tows the same line

has also received knocks for others. However, the fact remains that on either occasions, it is the inconsistency that has rattled the system.

However, if there is one thing that Tinubu has plenty of, it is political enemies.

Tinubu, who is also called the national leader of the APC, wields enormous influence in the party. He has a firm grip of the political spectrum of the southwest, and in any election, he may have the ticket. This is what his enemies are trying to to avoid.

Osinbajo was a disciple of Tinubu. It was Tinubu who nominated him for the vice presidency. Also, Magu is said to be particularly close to Tinubu. Source have it that petitions against Tinubu were buried under a pile of files in the EFCC headquarters by the former acting chairman. This may have been Magu’s sin. Protecting Tinubu to the chagrin of his enemies.

Following the successful removal of the national chairman of the APC, Mr. Adams Oshiomhole, another loyalist of Tinubu, in a palace coup engineered by an assistant secretary, Mr. Victor Giadom, the need to cut Tinubu’s political wings took a frenzy pace. Hence the announcement that Osibajo was involved in the multi billion Naira scam came from inside the State House.

In Nigeria, we have an unfortunate tendency to treat people as either heroes or valiant with no gradation in between. Magu has been called brilliant and the most daring chairman of the anti graft agency so far; and also exceptionally vicious by people for supposedly undermining the political enemies of the ruling APC. He was loyal and very ready to use the commission to bring down the enemies of the party.

Nigeria is a country that finds it strangely hard to get along with its constituent parts; robing them the wrong way with assertive territorial political claim and other highhandedness. Yet political tension obscures the regions intense links, particularly the fact that APC is still unable to fuse together five years after becoming the ruling party in the country.

Geographic balance is, relatively speaking, the strength of the Nigerian political world; whereas this has been maintained by successive governments, it is the inability of President Buhari to imbibe this time tested system called quota system, that is now undoing his government. That’s why many Nigerians find it hard to believe his anticorruption stance and claim

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COMMENT

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

CURTAILING FIRE OUTBREAKS IN NIGERIA

Olasunkanmi H. Okunola canvasses strict enforcement of building codes and regulations

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n recent years, disasters of various magnitude are becoming more frequent, intense, and geographically diverse in various communities across Nigeria. One of the most occurring and devastating disasters is fire outbreak, which has destroyed properties worth several millions of naira, rendered survivors homeless, jobless and compounded the suffering and poverty in the land. Most of these fire outbreaks, whether domestic, industrial, institutional, commercial, vehicular, or bush has become a common phenomenon across the country. The “World Life Expectancy Report� in 2016 ranked Nigeria first in the World for number of deaths by fire.

It has reached a stage where questions are being legitimately raised as to whether Nigerian communities are literally on fire.

Most of the recent fire outbreaks have occurred in state facilities that are of great strategic value, thereby making fires an issue of public concern and debate. For instance, On April 8, Treasury House, a building housing the office of the Accountant-General of the Federation (AGF) was gutted by fire. Eight days later on April 15, it was also reported that the Corporate Affairs Commission (CAC) headquarters in Maitama, Abuja was also engulfed with fire. In a similar vein, the headquarters of the Independent National Electoral Commission (INEC) and the popular Dugbe market in Ibadan were the next to record a fire outbreak just two days after that of the CAC. The month of May was not an exception as it was reported that fire destroyed two IDP camps in Borno State, the popular Ogbeogonogo market in Asaba and Oloyele market in Somolu, Lagos. These and many more point to the fact that Nigerian communities are vulnerable to the impacts of fire incidents. Consequently, communities in Nigeria have become centre of attraction to fire outbreaks of different magnitude.

This may be attributed to various factors such as frequent power outages, power surge, electrical sparks, illegal connection of electricity, improper electrical fittings, substandard building materials, defective or indoor use of generators. Other factors include storing up adulterated fuel at home, siting of filling stations and gas stations near residential and market places. Besides, inaccessibility to most residential areas and market places when there is a fire outbreak also compounded the problem. This is not unconnected with the chaotic nature of roads and unplanned environment of most Nigerian cities.

Another major factor contributing to the increase in the occurrence of fire outbreaks in the country is the total neglect of fire safety measures during the design and construction phases of structures. Likewise, public or private buildings with fire extinguishers, fire and smoke detectors, fire exits, warning signs and designated assemble fire points are hard to come by in the country.

Over the years, response to fire outbreaks in Nigeria has been unanticipated, unplanned and often poorly coordinated so much so that response could be as bad as the disasters and often compounded the impact of disasters on persons affected. Some states in Nigeria do not have effective and functional fire service stations and those

EQUALLY IMPORTANT IS THE ENFORCEMENT OF FIRE SAFETY REGULATIONS. THIS CAN BE CARRIED OUT BY ENSURING THAT FIRE SAFETY REGULATIONS ARE CONSISTENTLY FOLLOWED BY HOUSEHOLDS, PUBLIC INSTITUTIONS AND COMMERCIAL ENTITIES

that have are not evenly distributed across their territories. Typical example of this was the recent fire outbreak in Onitsha, Anambra State, that razed over 500 lock-up shops on Iweka Street Market, an incident that caught the state fire service unprepared to intervene.

It took the effort of firemen from Delta State Fire Service that were drafted to put out the fire. Equally appalling was a heroic video of a man with a bucket trying to extinguish huge blaze on the roof of a five-storey building in Balogun market, Lagos. This clearly depicts lack of preparedness by federal and state fire services to manage the incidents of fire outbreaks in the country.

To buck this trend, all hands must be on deck by disaster management stakeholders at the local, state and national levels to take proactive-based approaches on fire outbreak prevention and control.

The starting point is the strict enforcement of development control regulations that guilds building development against fire outbreak.

This would give room for adequate setbacks, widening of roads for easy access to fire services, siting of buildings and consideration for fire safety measures during the design and construction phases of buildings such as use of non-flammable building materials and provision for warning signs and designated assemble fire points in buildings. Also, living in a house without fire extinguishers and smoke detectors should no longer be an option.

Equally important is the enforcement of fire safety regulations.

This can be carried out by ensuring that fire safety regulations are consistently followed by households, public institutions and commercial entities in the country. This also includes the rehabilitation of the electrical wiring system (one that follows standard regulations during installation), proper use and handling of combustible materials and installation of fire hydrants.

It is also suggested that the issue of public education be intensified within the country. Both the Fire Service and the Disaster Management Agencies should embark on an intensive educational campaign among the residents regarding fire prevention and safety measures. Residents are expected to know what to do in case of fire in terms of first aid treatment and emergency exit rules pending the arrival of the fire fighters.

Finally, there is need for governments to provide and evenly distribute fire service stations in all the strategic locations of each state for disaster preparedness, prevention, mitigation, response and recovery. It is also imperative to make sure that all the facilities provided and distributed are well equipped and functioning. In the like manner, NEMA as the coordinating agency for disaster management in Nigeria should sensitise the state and local governments on the importance of setting up, funding and equipping their own emergency management agency in order to localise disaster risk management practices in Nigerian communities.

Dr Okunola is Disaster Risk Reduction and Resilience Specialist

WANT TO SEE GANDUJE? GO TO BENIN Ă’Ă? Ă“Ă˜Ă‘ ÙËÎ Ă’Ă‹Ă? ĂŒĂ?Ă?Ă˜ Ă‹ Ă?Ă“Ă–Ă?Ă˜Ăž Ă‹Ă˜ĂŽ Ă?Ù×Ă?ÞÓ×Ă?Ă? Ă˜Ă™Ă“Ă?ĂŁ ĂĄĂ“ĂžĂ˜Ă?Ă?Ă? ÞÙ Ă’Ă“Ă?ĂžĂ™ĂœĂŁ Ă“Ă˜ Ă?Ă˜Ă“Ă˜Ëœ ĂĄĂœĂ“ĂžĂ?Ă? Dele Olowu

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very step in Benin, habitues will confirm, bears the dust of history.

The Ring Road, arguably the city’s busiest commercial hub, is without doubt, also its most historical traffic intersection. Important arteries such as Akpakpava, airport road, Sapele road, Forestry among others, run out from this roundabout into adjoining districts. The Ring Road Island was part of the pre-1897 Royal Palace and at a point hosted a British forte and barracks. The overview provided at the time, by this military hardware, represented a challenge to the reconstructed Palace even after its restoration in 1914.

Now restored to its preeminent splendor, the Ring Road is the very epicenter of Benin’s spiritual, cultural, commercial and political life. It resonates with the tireless clamor of vendors; of hawkers; of an assortment of disordered minds; of beggars and the disabled seeking mercy and support; of buses on the edge and in a hurry; of a mass of humanity pursuing either profit or unstated advantage. It is perhaps amongst the most egalitarian spaces in the ancient city, not excepting the House of Assembly.

It is the haven for all.

The perimeter fence of the Ring Road, has in customary defiance of official fiat, been obdurately deployed as the city’s story board, announcing political ambitions, church news, miracle workers, music and an assortment of civic news. This is a major aesthetic and civic defilement, but it hardly counts. For all its permissive generosity, it must be but a surprise that the Ring Road in Benin City appears to be currently hosting a curious guest; Abdullahi Ganduje the incumbent Governor of Kano State. Memories of affinity between Edo and Kano States are not overwhelming. Grey beards

would however recall that Military Governor Samuel Ogbemudia of the then Midwest enjoyed a especial closeness with Governor Audu Bako of Kano several years ago . Yes, names like Aminu Kano, Abubakar Rimi and Barkin Zuwo, all men of history from Kano, enjoy outstanding brand recognition in the Midwest region, yet none of them made it to the Benin City Ring Road.

Alhaji Ganduje, has perhaps, undeservedly clinched that distinction! This is understandable.

Apart from being the current Governor of Kano State, he is also Chairman of the APC Campaign Committee for the Governorship Election in Edo Sate. Abdullahi Ganduje is being cheerlessly presented with a crown of thorns rather than a bouquet of flowers at the Benin Ring Road. A syndicate in Benin is showing on large screens at the Ring Road, a controversial clip of the governor in which he is seen pocketing wads of dollar notes. The crafty frontmen of this video clip have invented nothing new. The two-minute clip was recorded in 2017 and published by an obscure newspaper called the Daily Nigerian. It’s publisher, one Jafaar Jafaar claimed the video was the product of a sting operation. The governor denied. Several salacious versions of this story have since emerged. Many of them are fanciful, but in the Nigerian environment where public office corruption has reached industrial levels , the doubting Thomases are a shrinking tribe!

The Ganduje video, even though old file, has continued to attract viewers. It is theatrical; it is free and catches your gaze in the centrality of the Benin Ring Road. But the free show has provoked a greater sense of politics in the city center. A new sense of hilarity too has been injected into Edo politics and its perception. Alhaji Ganduje, caught in his own illusion of invincibility, has not

surprisingly boasted that he was going to isolate Governor Wike such that he would only regain consciousness after APC would have won the governorship prize in Edo. Wike fired back that Ganduje’s dollars will not work in Edo State.

Edo State is a difficult political terrain and truly neither dollars nor the vulgar force of power can by themselves produce electoral victory. Many knowing residents in Edo State have recalled the relatively arid nature of Ganduje’s tenure and in particular his poor management of the pandemic in Kano, and wonder how such a man’s judgement can be trusted by anyone. But the Ganduje show continues on screen and provides both amusement and distraction. Those who have a sense of history and culture say that if Alhaji Ganduje on screen, is unable to garatify viewers by doling out a “fist full of dollars�, some help can however be procured from another direction . Situated on the Ring Road, a shouting distance from the Oba Palace is the Urhokpota Hall. This Hall is named in honour of a renowned occultist who came into Benin from Esan during the reign of Oba Ozolua. He was an accomplished manufacturer of abundance and enjoyed royal approval.

If Ganduje keeps the right esoteric company, he might find favor. But those who are cynical of supernatural agencies disagree. The viewing of the Ganduje video clip on the Ring Road is producing great amounts of disgust and the dollars, real or virtual will perhaps change nothing.

The Ring Road has been a silent and sometimes noisy witness to history in Benin. Appropriately, it hosts a national museum and multiple sculptures proclaiming the nation’s history ; it has an amusement park; in the past it served as a motor park and under Governor Ogbemudia it was the main stadium in Benin for a while. Infamously, on

the 29th of June 1968, the Ring Road hosted what was perhaps the first public execution in Nigeria.

It was a tumultuous occasion as two Nigerian soldiers were executed for killing four innocent civilians in Ogwashi Uku. It was a war time outrage.

The Edo State governorship election is not a war. It is more than that. However, it is not about blood or the loss of life. It is about a redefinition of power and its ends. Ganduje’s boast about asphyxiating Wike is extravagant and the video clip now showing gives no hint of such omnipotence; his own record in Kano is fragile and suspect; support from such a source is therefore precarious and non-redemptive. As Chairman of the APC Committee for the Edo State Governorship election, Ganduje will be a perennial presence in Benin either in flesh or in his video clip. So if you want to see Ganduje, go to Benin. But here is a health warning! In Benin according to some accounts, if you have difficulty locating anyone, stand guard on the Ring Road. If after two days you still do not find the person in the throng, he has either relocated or he has joined his ancestors.

Ganduje, bathed in a swirl of dollars, will not be difficult to find.

And if Ganduje and his party run out of subscribers, in spite of their rumoured fiscal endowments, they must resist the temptation of sinking into desperation and resorting to extra-judicial methods. The same Ring Road provides quaint human wisdom. At the first public execution in Benin, carried out at the Ring Road, 52 years ago, the Chief of Army Staff in an address delivered before the shots rang out warned that “we should not think we are gods just because we bear arms�.

That injunction against terror and atrocities by men of power still rings good even now.

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T H I S D AY ˾ MONDAY, JULY 13, 2020

EDITORIAL DEALING WITH THE NSITF CRISIS The operations of the NSITF should be overhauled

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ight from inception, allegations of financial impropriety have always been a reoccurring issue in the Nigeria Social Insurance Trust Fund (NSITF). The last management team before the current one was accused of misappropriating the organisation’s fund to the tune of N69 billion. Some members of the preceding management board that served from 2009 to 2015 were also brought before the Economic and Financial Crimes Commission. (EFCC) for treating it like a slush fund. That particular scandal is currently being prosecuted by the EFCC, after some affected officials had forfeited several assets to the federal government.

It is against this background that President Muhammadu Buhari sacked the previous management team and appointed the present one in 2016 with the charge to ensure that the fund is prudently managed to deliver on its mandate. However, less than four years in office, the NSITF management team has found itself in the same web of corruption allegation. This time, the management is being accused by APART FROM INCESSANT the parent ministry of TUSSLE FOR PROMINENCE sundry acts of misappropriation. According AMONG THE FUND’S to a statement by the STAKEHOLDERS, Deputy Director, Press THERE SEEMS TO BE and Public Relations in NO TRANSPARENT the Ministry of Labour, ACCOUNTING AND Charles Akpan, some PROCUREMENT of the infractions PROCEDURES IN PLACE uncovered at NSITF include N3.4 billion allegedly squandered on non-existent staff training split into about 196 different consultancy contracts, in order to evade the Ministerial Tenders Board and Federal Executive Council (FEC) approval.

Some suspended officers, according to the ministry, are to face a Joint Board and Audit Investigative Panel that has been set up to look into the financial and procurement breaches, as well as gross misconduct in the NSITF from 2016 to date. Whatever may be the outcome of the inves-

tigations, what this development indicates is that there are more fundamental problems besetting the NSITF as an organisation. The clash of interests by various partners and stakeholders seems to be working against the smooth operation of the scheme and creating avenues for corruption within the management.

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T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA

or instance, not long after the new management came on board, fresh problems arose about the leadership. The constitution of a new board brought the supervising ministry and other stakeholders like the Nigeria Labour Congress (NLC) and Nigeria Employers’ Consultative Assembly (NECA) in open confrontation. A former president of the National Union of Petroleum and Gas workers (NUPENG), Frank Kokori claimed the president had appointed him as board chairman of NSITF. The Minister of Labour and Employment, Senator Chris Ngige countered the claim. The ensuing face-off with the NLC, NUPENG and Petroleum and Gas Senior Staff Association (PENGASSAN) went on for several months before a new board under the chairmanship of Mr. Austin Enajero-Isire was constituted.

However, the constitution of a new board has not resolved the problem at the fund. If anything, it has only just added a new layer of problems. Apart from incessant tussle for prominence among the fund’s stakeholders, there seems to be no transparent accounting and procurement procedures in place. There is also the issue of poor placement of priorities by the management of the fund with more attention given to the awards of contracts on frivolous projects than voting more money for employee compensation, medical treatment and other welfare packages.

Meanwhile, a close observation of the activities of the NSITF shows that its core mandate has been relegated to the background while issues of pecuniary interests have become the main preoccupation of those overseeing its affairs. If there is going to be any meaningful change, the federal government and other public and private sector stakeholders need to review and overhaul the operations of the NSITF. That is the only way to make it more transparent and result-oriented.

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Promoting Agriculture Production Through ICT

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ccording to FAO, agriculture remains the largest sector of the Nigerian economy and employs two-thirds of the entire labour force. Production hurdles have much stifled the performance of the sector. Agriculture is increasingly becoming knowledge-intensive and millions of smallholder farmers around the world are confronted by constraints such as poor access to farm input, funding, poor road network, lack of storage facilities, markets and financial services, low levels of human capital, poor access to education and weak information flows. With missing markets, low skills and weak capacity, agriculture across the developing world will have to overcome a number of challenges in the future and with current world with food insecurity looming.

The Food and Agriculture Organization, a specialized agency of the United Nations, estimates that more than 860 million people in the world today suffer from hunger including Nigeria. Utilization of Information and communications technology (ICT) can ease access to prompt and correct information for an improved agricultural production. ICT is an umbrella term that includes any communication device or application, encompassing radio, television, mobile phones, computers and network hardware and software, satellite systems, and so on.

We are in a world where technology is everything. Access to information is crucial to smallholder farmers. In Nigeria, 85 percent of the farmers are smallholder farmers with great numbers of women that are greatly contributing in production of highly diversified products, and limited access to productive resources.

World population is expected to surpass the nine billion mark by 2050, and agricultural production will need to increase by 60 percent.

ICT applications can make significant contribution to meet this future global and national food needs. Information and communication technology can do so by collecting and sharing timely and accurate information on weather, inputs, markets, and prices; by feeding information into research and development initiatives; by promoting farmers cluster, by disseminating knowledge to farmers; by connecting producers and consumers, by connecting farmers and their target, and through many other avenues.

Creating the enabling environment for rural ICT connectivity through sound policies and strategies and ensuring thereby affordable and quality access to the technologies, especially in rural areas, will support smooth exchange of agricultural information for smallholders’ farms. ICT strategies and platforms that increase involvement of farmers’ organizations in policy development, policy debates, and influencing policy implementation have to be promoted.

Information and communication technologies especially mobile applications are playing key role in facilitating access to these resources by the farmers living in rural areas. With the increasing penetration of mobile phones in remote parts of Nigeria, efforts should then be made to strengthen the innovative use of mobile technologies by smallholder farmers. Combination of mobile technology and geographic information system offer correct, specific/micro information of farm activities, soil, water, nutrient, food safety tracking, etc., on farmers’ field for decision making.

Godwin Adinoyi Jimoh, Barns Connect

There Is A Presidential Mask?

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he Presidential mask has finally appeared - he doesn’t look like the Lone Ranger!

The use of the Presidential seal on the side of the mask is amusing, if not inappropriate given what the seal symbolises. We already knew it was him and it would take a much bigger mask to cause any doubt and also a hat to hide the remaining presidential hair.

It’s about time he wore a mask as unfortunately some people listen to him rather than to medical experts such as Dr. Anthony Fauci. Leadership does require some sacrifices but wearing a mask is not one of them.

Let’s see him hidden behind a mask for the moment before he is hopefully hidden from view by the 2020 electoral results.

Dennis Fitzgerald, Melbourne, Australia

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MONDAY JULY 13, 2020 • T H I S D AY

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

Lagos Heads for Shut down Davidson Iriekpen writes that the partial closure of the Third Mainland Bridge for six months will no doubt not only increase the number of man-hour lost daily in Lagos traffic, but certainly send many road users, who are already groaning over the hurdles of commuting, into depression

Work on theThird Mainland Bridge last year

A typical day on Lagos road

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hat motorists and commuters in Lagos are in for a harrowing experience with the announcement last week by the federal government that it would shut down the Third Mainland Bridge for maintenance work from July 24, 2020 is no longer news. The Federal Controller of Works in Lagos, Mr. Olukayode Popoola, who made the announcement, said the closure which would last for six months, is to enable the government carry out routine maintenance works on the bridge. “We are still working out the modalities and when we perfect the traffic management plan we will move to site. Everything being expected for the repairs of the bridge arrived the country that is why we want to start the repairs now,’’ he said.

The importance of the Third Mainland Bridge in Lagos cannot be over-emphasised. It is not just the longest of three bridges connecting Lagos Island to the mainland, everyday millions of people are ferried through the bridge to ease movement in the city. So the chaos shutting it down for a whopping six months would cause can only be imagined.

The bridge starts from Oworonshoki which is linked to the Apapa-Oshodi Expressway and the Lagos-Ibadan Expressway and ends at the Adeniji Adele Interchange on Lagos Island.

The 11-kilometre bridge which has gone through series of rehabilitation works was last closed for repairs in August 2018 for three days of investigative maintenance check.

At a joint media briefing with officials of the Lagos State government on how to manage traffic during the period of the shut down of the all important bridge, Popoola revealed that the repairs would be done in two phases, saying that the first phase of the diversion would be on the Oworonshoki-bound lane of the bridge of which repairs would last for three months. He noted that within that period, motorists will use the Lagos Island-bound lane and the alternative routes provided.

According to the federal controller, the first phase will be for morning traffic from 12a.m. to 1p.m. from Oworonshoki to Lagos Island on the Lagos Island-bound lane. He added that the afternoon traffic from 1p.m. to midnight would take the Lagos Island to Oworonshoki traffic on the Lagos Island-bound carriageway.

Popoola said the phase two of the diversion for the repairs of the Lagos Island-bound lane of the Third Mainland Bridge would be for morning traffic from 12a.m. to 1p.m. from Oworonsoki to Lagos Island on the Oworonsoki-bound lane.

Afternoon traffic from 1p.m. to 12a.m. would be from Lagos Island to Oworonsoki on the Oworonsoki-bound lane.

He said the government was aware of the inconveniences the maintenance of the bridge may cause motorists, but added that the appropriate agencies for traffic control will be in place to direct traffic movement in the affected areas. “This will be in place for three months for repairs of the Oworonshoki bound lane. Motorists are advised to also ply these alternative routes: first, from Carter Bridge through Iddo through Oyingbo

Survival of the ďŹ ttest to join Adekunle ramp inward Oworonsoki.

Secondly, from Ijora Olopa through Western Avenue to Ikorodu Road. Traffic controllers will be in place to direct and help traffic movement.

We regret the inconveniences this might cause the motorists,� he said.

On his part, Lagos State Commissioner for Transportation, Fredrick Oladeinde, said priority would be given to those driving from Mainland to the Island in the morning and afternoon to use the Third Mainland Bridge while those driving against traffic will use the alternative routes. He assured motorists that the state Traffic Management Authority (LASTMA) would work with the Federal Road Safety Corps (FRSC) in all the alternative routes to ensure a smooth journey during the partial closure.

To reduce the number of vehicles on the road during the partial closure of the bridge, he advised that motorists who do not have a genuine reason to be on the road should stay at home. He also said the Vehicle Inspection Service had started checking trucks for roadworthiness and those not fit will be confiscated. “If you don’t have to travel, I will advise that you stay at home so that we can minimise the number of vehicles on the road. If you can work at home, please do; but if you can’t, we will ensure we will be on the road for you to get to your destination as quickly as possible,�

Oladeinde said.

The commissioner also advised residents to use alternative transport such as ferries, saying the Lagos Ferry Services will increase the number of fleets in the morning for people from Ikorodu and Mile 2.

The Special Adviser to the state governor on Works and Infrastructure, Aramide Adeyoye, promised that the state would rehabilitate access routes for use. She listed roads to receive urgent attention to include Herbert Macaulay Way and Iddo/Oyingbo roads, saying the state government has commenced necessary preparatory work on all the alternative routes to make them motorable for commuters.

From the tone of the media briefing, it was

clear that the already bad traffic situation in Nigeria’s commercial city, may get worse in the days and months ahead.

Last March, same federal government shut down the Alaka Bridge linking Eko Bridge in Lagos for repairs. And till date, not a single work has started on the bridge, thereby giving motorists serious nightmare linking the Island and Apapa. Sometimes the traffic on this part of the road starts from Fadeyi.

Rather than quickly fix the bad portion to ease traffic and give road users some relief, it was abandoned for Marine Beach, thereby worsening the traffic situation in the city.

This is why many feel that adding the Third Mainland Bridge to what they are presently going through at this time will send many more Lagosians into depression.

As much as shutting down the Third Mainland Bridge is seriously palpitating many Lagosians, so are the major roads in the city which have all broken down and causing a nightmare to drive through.

Presently Eric Moore, Ijora-Apapa, Mile 2 to Ojo in the Lagos-Badagry Expressway, Mile 2-Tin Can-Liverpool, Agege Motor Road around Mushin, Herbert Macaulay Way in Yaba are all in a sorry state.

The intensity of the rains in the last two weeks has made movement harrowing for many road users. As motorists and other road users are groaning, there seems to be no end to the ordeal.

Presently, it is hard to quantify the man-hour lost daily in traffic and health hazard it poses to people.

Added to the problem, the inner-city roads are in deplorable state, leaving most residents to agonise daily. Many cannot understand why the Lagos State government has not been able to pay proper attention to the inner-city roads despite the creation of the Lagos State Public Works Department, which is saddled with the task of rehabilitation of local roads.

While many Lagosians know that the gridlock in the city is compounded by the influx of tankers and containerised trucks that have also become

a menace on the roads, they are wondering why the state government has not come up with a concrete policy to tame the menace of truck and tanker drivers in the city, knowing that heavy vehicular pressures on the few available roads cause them to fail rapidly.

On a typical day, traffic could stretch from Fadeyi or Onipanu on the Ikorodu Road to Costain, Mile-2 end of the Apapa-Oshodi Expressway to Cele Bus Stop, down to Anthony Bus Stop on Ikorodu road. This in turn compounds the constant logjam on the Lagos-Badagry Expressway, Funso Williams Avenue and even the Third Mainland, Eko and Cater bridges.

Most times, heavy-duty vehicles get stuck in the flooded bad portions of the roads. Traffic thieves and miscreants most often cash in on the confusion to extort money from motorists, while others make brisk business by helping victims remove stuck vehicles off the danger zone. “For me, I was happy to hear that the state government will soon pay urgent attention to Herbert Macaulay Way and Iddo/Oyingbo roads.

It means that they know that the roads were bad this while but kept quiet. Let them fix it and many others. The other day, I went through Ojuelegba-Itire road and what I saw made me to put a question mark on the Governor Sanwo-Olu government. It was bad,� said a banker who did not want her name in print.

There are also many Lagos residents who feel that LASTMA officials whose duty it is to control traffic in the city are not doing enough.

They feel that a majority of them have since abandoned their core duty and chasing motorists for the mundane such as seat belt in order to extort them. “There are some areas that are known for chronic traffic congestion, yet you see the LASTMA officials deployed there chatting and playing away unconcerned. There should a way of the monitoring their activities. What are they paid for at the end of the month?,� asked a shop owner at Okota, Funke Badore.

Worse still is the fact that the federal government has told the people of the state how long truck and tanker drivers will continue to park on the bridges for weeks and month before they gain access to the ports to evacuate imports, thereby weakening the bridges. “Sometime I just wonder what kind of country we live in. For over seven years now, heavy duty trucks and tankers have been parking on both Eko Bridge and Ijora-Apapa Bridge with no explanation from any body on how long this will be. It is sad that authorities are not seeing the damage done to these bridges with these trucks and tankers parking there always. If the bridges were meant to last for 100 years, is it with the day and night parking presently going on right now? Why are we jokers in this country?

It was this same parking that broke a joint on the Eko Bridge that led to the shutting down of the Alaka bridge in March. Do we have to wait for the entire bridge to come down before we act? Do we know what it would take to construct the bridges of they come down? Very said for us,� a lawyer, Imonitie Iriah concluded.

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FEATURES

What Happens When Girls Say “No�?

Lolo Cynthia Ihesie

A

recent United Nations report finds that one-in-four women globally feel powerless to refuse sex with a husband or partner.

Yet, the problem could be even worse, as the report does not consider girls under 17. In Nigeria, where masculinity is too often weaponized, girls may be even more vulnerable. Especially now, during the stress of a pandemic and intermittent lockdowns, girls and women need the power to say no.

I was once among those girls who could never say no. When my high school boyfriend repeatedly insisted on sexual intercourse and I was in physical pain, I would not refuse his proposal. Although I was generally a confident and assertive person, when it came to sex, I deferred to his desires and demands. I lacked sexual agency—the ability to define myself as a sexual being and assert my needs and desires- and as a result, for years I was trapped in a cycle of voluntary but unwanted sex.

Twelve years later, I teach comprehensive sexual education as a consultant in my hometown of Lagos, Nigeria. In every class, I see myself in those young girls as they ask: “How do I tell my boyfriend I don’t want sex without him getting angry?�

Society—and our educational system in particular—has failed these girls by failing to teach comprehensive sexual education that broadly emphasizes young people’s rights, gender norms, consent, power dynamics and responsibility.

Now, as Covid-19 has closed schools

Ihesie around the world, and thrust many girls and young women into lockdowns with potentially abusive adults, a highly vulnerable generation of young women lack the most basic tool to protect themselves: the ability to say no.

The exercise of sexual agency is a deeprooted human right that must be recognized and institutionalized through how we teach our young people and the standards to which we hold ourselves.

Now is the perfect time for the Ministry of Education to re-evaluate how we approach sex education in schools. In many countries, this will mean stepping away from

abstinence-based programs that utilize fear as a tactic while linking girls’ sexual expression with immorality, violence, and victimization.

Instead, schools should rapidly adopt comprehensive sex-ed that guides teenagers to analyse how power dynamics and gender roles affect relationships; teaches girls that they can choose if and when to have sex.

We need girls to learn that they can stop any sexual advances no matter how aroused their partners are, without feeling guilty for not fulfilling their socially conditioned “girlfriend duties.�

Many governments have veered away from adopting comprehensive sexual education, choosing instead to teach abstinencebased education. This is dangerous.

The differences between these two approaches are most evident when comparing the United States of America and the Netherlands. In the USA, half of states require sex education to stress abstinence.

In the Netherlands, by law, all schools must start comprehensive sex-ed programs from primary school and address core principles like sexual diversity and sexual assertiveness.

Both countries report a similar age of sexual debut. But in the Netherlands, most teens had a positivesexual experience, whereas in the US, 66 percent of teenagers expressed regret. The pregnancy rate of Dutch teens is also eight times lower than the USA. Furthermore, abstinence-based education gives more room for teenage intimate partner violence. US data show that 1 in 9 high school girls experience sexual dating violence and 26 percent of women experience intimate partner violence before they turn 18.

For school systems unsure how to proceed

with comprehensive sexual education, there are roadmaps and resources. These include AMAZE and Australia’s Government Sexuality Teachers Guide.

The curriculum that I have developed,MyBodyIsMine (MYBIM) is a rights-based and gender-focused approach to sexual education. It provides scientifically accurate information and helps young people to explore positive values regarding their sexual and reproductive health. This removes the shame imposed on victims of sexual violence; aims to change the gender expectations of boys and young men, and helps to empower a new generation of girls with sexual agency.

And, until schools reopen, parents and elders can also use these resources to stalk with their daughters about power dynamics in intimate relationships. Parents can model courage by being brave enough to initiate these difficult conversations with kindness and clarity.

Until we change the patriarchal social norms that dictate sexual agency, women will continue to be vulnerable. Comprehensive sexual education is one crucial step in that direction. Giving our girls the ability to say no may not stop the most aggressive perpetrators, but it is a first defense. ... Ihesie is a Nigerian Sexuality and Reproductive educator who advocates for sexually empowered and liberated women and men through sex-education and access to contraceptives. She is the founder of LoloTalks, a community development enterprise creating awareness and sustainable solutions to social and health issues.

Virtual AGMs by Proxy: Nigeria's Response to COVID-19 Chinyere Joel-Nwokeoma

N

ecessity, they say, is the mother of invention. This saying came into play with innovations created as a result of the Novel Coronavirus (COVID-19).

The pandemic, with its huge negative impact on economies, has led to emergency lifestyle adjustments, with countries thinking outside the box as they grapple with partial or total lockdown.

COVID-19 pandemic has led to government-ordered closure of companies and offices, and affected global stock market, causing postponement of public companies’ Annual General Meetings (AGMs) as well as loss of jobs, among others things.

According to a report by the Institutional Shareholders Services (ISS), as at March 31, the total number of meetings postponed or cancelled globally because of COVID-19 is approximately 557 while the number of meetings that will be virtual-only or proxy-only stands at 560.

These figures, as tracked by the ISS, are changing by the day as the pandemic is pushing into the traditional AGM season for many markets in the northern hemisphere.

In response to stay-at-home orders and ban of gatherings, many countries updated their regulations, allowing quoted companies greater freedom to hold virtual AGMs. Some of the countries that updated their regulations to allow quoted companies to hold virtual AGMs or AGMs by proxy are Spain, Switzerland, Austria, United Kingdom and Nigeria.

In Nigeria, virtual AGM is a novelty.

The Corporate Affairs Commission (CAC), in March, in view of the COVID-19 pandemic, said companies could hold their AGMs by taking advantage of Section 230 of the Companies and Allied Matters Act on the use of proxies.

The CAC published guidelines and procedures that companies should follow in conducting AGMs in view of the new normal in the country.

It says approval of the CAC shall be obtained before such a meeting is held, adding that application for approval can be submitted to its head office in Abuja or any branch office in states.

It demands that the meeting shall only discuss the Ordinary Business of an AGM as provided in S.214 CAMA, while notice of meeting and proxy form shall be sent to every member in accordance with the requirements of CAMA. According to the guidelines, all members shall be advised in the notice that in view

Virtual AGMs is the new norm of the COVID-19 pandemic, attendance shall only be by proxy, with names and particulars of the proposed proxies listed for them to select therefrom.

Consequently, Guaranty Trust Bank on March 30 became the first quoted company in Nigeria to conduct an AGM with attendance by proxy when some quoted companies had notified the market about the postponement of their AGMs due to novel coronavirus.

With GTBank’s bold step, many listed companies that earlier cancelled their various AGMs due to the COVID-19 pandemic embraced the initiative.

Some companies that have successfully conducted their AGMs by proxy include FBH Holdings, United Bank for Africa, Access Bank, Fidelity Bank, Union Bank of Nigeria, FCMB Group, Transcorp, Africa Prudential and Wema Bank.

Financial experts are convinced that the practice have come to stay even after COVID-19.

If the desirable is not available, the available becomes desirable, they argue.

Uche Uwaleke, a Professor of Finance and Capital Market at the Nasarawa State University, hails the initiative.

Uwaleke believes that virtual AGM as well as AGM by proxy will still ensure payment of dividends to shareholders once approved at the meeting.

He also.notes that it saves cost of attendance, saves time spent travelling and attending the meeting by shareholders.

According to him, it enables shareholders who are far away or in remote places and unable to attend physical meetings to

Photo: Google participate in discussions and voting, which are done electronically.

On the flip side for the shareholders, Uwaleke says virtual a AGM does not allow bonding among shareholders and networking, which physical AGM promotes. “A shareholder may also face issues, if in a remote location, of electricity and internet service, and a local shareholder may not be recognised to air his views in a virtual meeting. “Unlike in a physical setting where one can keep one’s hands in the air to draw the attention of the presiding officer, virtual meetings may not give shareholders, especially the minority and ‘troublesome’ ones, equal opportunities to be heard during AGMs. “The chairman of the meeting can pretend not to notice a shareholder who indicates to speak through the hand symbol, using Zoom, for example,� Uwaleke argues.

On the advantages of a virtual meeting to a company, he is of the opinion that it saves huge cost of organising a physical AGM, including hiring of venue and making provisions for refreshments, gifts and security. “It saves the company a lot of time spent and logistics/hassles associated with organising the event. “Resolutions including voting may be faster and not as rowdy as obtained in physical meetings.�

Uwaleke points out, however, that the success of a virtual meeting depends on availability of enabling technology, especially internet service. “Technology can fail, leading to disrup-

tion of the meeting; unlike a physical meeting where shareholders can be seen, it may be difficult in a virtual meeting to know those who actually participated,� he adds.

For Mr Moses Igbrude, the immediate Publicity Secretary, Independent Shareholders Association of Nigeria, the new coronavirus pandemic has necessitated a new normal which Nigeria must embrace. “Many companies postponed their AGMs initially, thinking it (COVID-19) would soon be a thing of the past but we can see now that the end is not in sight. “Should we stop doing business or develop new ways of doing things until normalcy returns? So, virtual AGM by proxy is the one of the new normals,�

Igbrude says.

The shareholder-activist believes that virtual meetings make it possible for shareholders to get dividends in time instead of postponing the meetings.

According to him, it will also enable companies to avoid huge expenses on AGMs. However, the National Coordinator, Progressive Association of Nigeria (PSAN), Mr Boniface Okezie, is of the opinion that the virtual meeting option is not stated in the law of CAMA. He adds that even in the face of the meetings by proxy or virtual technology, some companies fail to provide links for shareholders to join in the meetings. “This one just came from an emergency situation, as this is not what was planned,� he notes.

According to Okezie, the CAC was reluctant to approve the AGMs because it was not in CAMA. “As long as there has not been an amendment to the law of CAMA, there is nothing of such called virtual meetings. “It is noteworthy to point that companies should not abuse these things. “A lot of these shareholders were disenfranchised due to virtual meetings which I think will result in some of these companies perpetrating illegalities which could have been challenged by shareholders. “After the pandemic, we cannot do this same type of meeting because, to get technology to continue, involves a lot of money, and I cannot advise companies to start spending on technology from investments made from shareholders,� Okezie urges.

Analysts are convinced that virtual AGM by proxy in this era of COVID-19 pandemic is helpful, but warn that it should not be abused. (END) ... Joel-Nwokeoma works with the News Agency of Nigeria (NAN).

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MONDAY JULY 13, 2020 •T H I S D AY

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T H I S D AY Ëž ÍŻÍąËœ 2020

BUSINESSWORLD

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

ÍŻ ÍŽ Ëœ Í° ÍŽ Í° ÍŽ MONEY MARKET OVERNIGHT OBB

REPO 14.10 13.80

CALL 1-MONTH 3-MONTH

12 13 15

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

573.42% -0.32% 1.88%

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

1.88% 19.17%

EXCHANGE RATE N381/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Osinbajo, Others for CWEIC Forum

The Commonwealth Enterprise and Investment Council (CWEIC), supported by Novare Equity Partners, will tomorrow convene a forum titled: “Focus on Nigeria: Africa’s Unrivalled Economic Powerhouse,� as a part of its ongoing leadership webinar series.

The Webinar will focus on discussion around the opportunities and issues facing Africa’s biggest economy and most populous nation, which is also one of the world’s largest oil producers, post-COVID and with the oil price at record lows.

SpeakersattheeventincludeVicePresident,Prof.YemiOsinbajo;Minister ofTrade&Investment,Nigeria,RichardAdeniyi;ExecutiveSecretary/CEO, NigerianInvestmentPromotionCommission,Ms.YewandeSadiku;Managing Director, Novare Equity Partners, Mr. Derrick Roper, and Chairman, CWEIC, Lord Marland.

A statement explained that the forum would focus on, “the immediate, new and achievable opportunities for this dynamic nation of 200 million people.�

It pointed out that key topics of discussion would include: What are the current impediments to growth in the Nigerian economy; response to COVID-19 and the emerging growth sectors; Nigeria as the factory for thecontinent;mobilemoneyrevolution;AfCFTAandintra-Africancurrency exchange.

Layer3 Marks 15th Anniversary

THIS IS OUR SCORECARD

L-R: Board Member, International Chamber of Commerce Nigeria (ICCN), Dr. Babatunde Ajibade; Secretary General, Mrs. Olubunmi Osuntuyi, and Vice Chairman,ChiefRaymondIhyembe,duringthe2020AnnualGeneralMeetingof theICCNinIkeja,Lagos...recently KOLAWOLEALLI

InvestorsStakeN13.5BilliononShares Goddy Egene Investors staked N13.453 billion on 901.542 million shares in 18,676 deals at the stock market last week. The value of trading was 46.5 per cent higher than the N9.181 billion invested in 961.833 million shares in 20,058 deals the previous week.

However, the market closed negatively as the Nigerian Stock Exchange (NSE) All-Share Index fell 0.12 per cent to close at 24,306.36. Similarly, market capitalisation as investors lost N15.5 billion to close at N12.680 trillion.

A look at the performance showed that the market recorded gains on Tuesday, Wednesday and Friday. But the gains were insufficient to lift the losses of Monday and Thursday.

Just like Nigeria, Kenyan stock market was also bearish, shedding 2.3 per cent. Ghana’s GSE Composite and Morocco’s Casablanca MASI Index which fell 0.8 per cent. On the positive

INVESTMENT side, Egypt’s EGX30 led gainers, up 1.8 per cent, while Mauritius’ SEMDEX index advanced 0.6 per cent.

Whereas the African markets were bearish, in the BRICS markets, performance was bullish as all indices gained.

China’s Shanghai Composite led gainers, up 7.3 per cent. Brazil’s Ibovespa trailed by three per cent.

Similarly, South Africa’s FTSE/JSE All Share and India’s BSE Sens indices rose 1.7 per cent and 1.6 per cent in that order. Russia’s RTS index closed the week 0.6 per cent higher.

In Asia and the Middle East, performance was mixed as three of five indices closed in the red. Thailand’s SET Index led decliners, down 1.7 per cent followed by Turkey’s BIST 100, which fell 1.1 per cent. UAE’s ADX General Index shed 0.4 per cent. On the other hand, Saudi

Arabia’s Tadawul ASI index posted a positive return of 1.4 per cent to lead gainers, followed

by Qatar’s DSM 20 Index which advanced 1.1 per cent.

In the developed markets, trading was positive. In the United States, the S&P 500 and NASDAQ indices rose 0.9 per cent and 3.1 per cent respectively. In the same vein, Hong Kong’s Hang Seng and Germany’s XETRA DAX indices climbed higher by 1.4 per cent and 0.8 per cent in order.

Conversely, in Europe, the UK’s FTSE All-share index fell 0.8 per cent following uncertainty caused by United Kingdom Prime Minister Boris Johnson’s determination to leave the European Union without a trade deal if no compromise is be reached. France’s CAC 40 and Japan’s Nikkei 225 indices declined 0.7 per cent and 0.1 per cent respectively.

A further analysis of the market turnover indicated that the Financial Services industry led the activity chart with 629.368

million shares valued at N5.186 billion traded in 9,887 deals. Thus, the sector contributed 69.81 per cent and 38.55 per cent to the total equity turnover volume and value respectively. The ICT industry followed with 59.506 million shares worth N5.161 billion in 684 deals.

The third place was occupied by the Consumer Goods industry, with a turnover of 57.136 million shares worth N1.385 billion in 2,993 deals.

Trading in the top three equities namely Guaranty Trust Bank Plc, Fidelity Bank Plc and Zenith Bank Plc accounted for 293.678 million shares worth N4.042 billion in 4,334 deals, contributing 32.58 per cent and 30.05 per cent to the total equity turnover volume and value respectively.

A total of 301,094 units of exchange traded funds (ETFs) valued at N2.384 billion were traded last week in 14 deals, compared with a total of 358,114 units valued at N1.912 billion Continued on page 22

Report: 86% of Organisations Fall Victim to Cybercrime Emma Okonji A survey report by cyber-security firm, Sophos, tagged: ‘The State of Cloud Security 2020,’ has estimated that over 86 per cent of organisations from Nigeria experienced a public cloud security incident last year.

This included ransomware at 34 per cent, other malware at 43 per cent, exposed data at 57 per cent, compromised accounts at 46 per cent and cryptojacking at 26 per cent.

According to the report, globally, organisations running

ECONOMY multi-cloud environments are greater than 50 per cent more likely to suffer a cloud security incident than those running a single cloud.

The report stated that Europeans suffered the lowest percentage of security incidents in the cloud, an indicator that compliance with General Data Protection Regulation (GDPR) guidelines are helping to protect organisations from being compromised, adding that India, on the other

hand, fared the worst, with 93 per cent of organisations being hit by an attack in the last year.

Analysing the report, the Principal Research Scientist at Sophos, Chester Wisniewski, said: “Ransomware, not surprisingly, is one of the most widely reported cybercrimes in the public cloud.

The most successful ransomware attacks include data in the public cloud, according to the State of Ransomware 2020 report, and attackers are shifting their methods to target cloud environments that cripple necessary infrastructure and increase the likelihood of payment.

“The recent increase in remote working provides extra motivation to disable cloud infrastructure that is being relied on more than ever, so it’s worrisome that many organisations still don’t understand their responsibility in securing cloud data and workloads. Cloud security is a shared responsibility, and organisations need to carefully manage and monitor cloud environments in order to stay one step ahead of determined attackers.�

According to SophosLabs 2020 Threat Report, misconfigurations Continued on page 22

Layer3, an information technology (IT) services provider has reassured its numerous customers of enhanced quality service delivery, just as it marks its 15th anniversary.

Speakingonthecompany’sanniversary,theCEOofLayer3,OyajeIdoko, said the occasion was an opportunity to reect on its growth over the past decade-and-half. “For 15 years, we have supported organisations with the technologies they need to scale and thrive, in line with our mission to make organisations and individuals excel through technology,â€? Idoko said.

According to him, “The work we do is meaningful and transformative.

There is evidence of this in the wins that our solutions have helped our clients achieve.We want the coming years to yield even greater successes for them, and for us.�

He also thanked all loyal customers, both past and present, as well as its clients and partners, for the roles they have played in the company’s progress thus far.

Inhisremarks,ExecutiveDirectoratLayer3,ShatseKakwagh,expressed beliefinthecompanyasapositiveforceinNigeria’sorganisationallandscape. “Through sheer hard work and dedication to our vision, we are enabling thesuccessofnumerousbusinesses.Thetechnologiesweprovidetothem have spurred growth across this country,� Kakwagh explained.

United Capital Releases Economic Outlook

The United Capital Plc has released its economic outlook report for the second half of the year.

The bi-annual report analyses the status of the Nigerian economy and outlines future projections informed by domestic and global events.

Based on extensive research, “Up in the Airâ€?, as the report is titled, encapsulates the uncertainty triggered by the outbreak of the COVID-19 virus; a pandemic that threw a curveball at the trend of previous economic variables and policy forecasts for the year. Transcending evaluation of the Nigerian economy, the outlook report examined the volatility of the pandemic on global ďŹ nancial markets, evaluated the risk of a recession in fragile economies, and prognosticates the basis for a turnaround in global trade value.

Speakingonthereport,GroupChiefExecutiveOďŹƒcer,ofUnitedCapital Plc,Mr.PeterAshade,inastatementexplained:“UnitedCapitaliscommitted to equipping our clients, seasoned investors, and the investing community at large with valuable insights to inform their decision-making processes in the second half of the year. “Withtheadventofthepandemic,COVID-19,whichproceededtodestabilise even the strongest economies world-wide, our research team has made use of their knowledge, expertise and understanding of situation, and the economytopredictpossibleactionsinthefutureandwebelievethiswould be beneďŹ cial to investors.â€?

“The airplane is hygienic enough once you have your mask, you are safe to remain seated on your seat and where possible, we will keep the distance�

Minister of Aviation,

Senator Hadi Sirika

T H I S D AY Ëž ÍŻÍąËœ 2020

22

BUSINESSWORLD INVESTORS STAKE N13.5 BILLION ON SHARES transacted the previous week in 25 deals.

Also, a total of 11,487 units of bonds valued at N14.769 million were traded in 13 deals compared with a total of 4,590 units valued at N5.515 million transacted two weeks ago in 14 deals.

Meanwhile, 25 equities appreciated in price during the week, higher than 13 equities in the previous week, while 33 equities depreciated in price, lower than 59 equities in the previous week.

Redstar Express Plc led the price gainers with 18.5 per cent, trailed by PZ Cussons Nigeria Plc with 15.3 per cent. Sterling Bank Plc chalked up 13.0 per cent, just as Cornerstone Insurance Plc garnered 10 per cent. Zenith Bank Plc gained 9.5 per cent, just as Chams Plc and Nigerian Aviation Handling Company Plc went up by 9.0 per cent apiece.

GTBank Plc and Fidelity Bank Plc garnered 7.9 per cent and 7.1 per cent in that order, just as Law Union and Rock Insurance Plc closed 7.1 per cent and 7.0 per cent higher respectively.

REPORT: 86% OF ORGANISATIONS FALL VICTIM TO CYBERCRIME

drive the majority of incidents and are all too common given cloud management complexities.

The report said, despite this, only around 25 per cent of organisations from Nigeria say lack of staff expertise is a top area of concern.

Data from Sophos Cloud Optix, a cloud security posture management tool, further reveals that globally 91 per cent of accounts have over privileged identity and access management roles, and 98 per cent have multi-factor authentication disabled on their cloud provider accounts.

The report stated that nearly all respondents 97 per cent from Nigeria admit to concern about their current level of cloud security, an encouraging sign that it’s top of mind and important, adding that identifying and responding to security incidents tops the list of security concerns for nearly half of respondents, followed by managing access to cloud accounts and data leaks.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

NEWS

Customs Generates N17bn in Six Months Eromosele Abiodun The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone A, Ikeja has announced that over the weekend, it intercepted contrabands, and raised debit notes on importers worth N17 billion between January to June 2020.

It added that while contrabands intercepted by the unit were from smugglers in South-Western states of the country included used vehicles, pharmaceuticals, textiles, foreign parboiled rice, tomato paste, second hand clothing among others, the debit notes were raised on importers who under declared their cargoes for lesser Customs duty.

The Customs Area Controller of the unit, Acting Compt. Usman Yahaya, in a statement said N15.6 billion was generated from contrabands seized from smugglers while N1.4 billion were raised from wrong classification, transfer of value and false declaration of cargoes.

Yahaya added: “The total duty paid value of N15.6 billion were premised on seized contrabands while the N1.3 billion were revenue from the unit interventions arising from wrong classifications, transfer of value and false declarations by importers. “So, a total of N17 billion was

James Emejo in Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has emphasised the need for the country to ensure effective and efficient functioning of the Export Processing Zones in the buildup towards the implementation of the African Continental Free Trade Area Agreement (AFCTA) which is scheduled to kick off by January 2021.

He said Nigeria, must as a matter of national emergency, ramp up industrialisation and manufacturing activities by repositioning the economic zones to attract foreign investments into

Nume Ekeghe Union Bank of Nigeria Plc has said it will continue to expand its agency banking network to complement its operations and to also increase financial inclusion in Nigeria The bank also said it recently concluded a corporate social responsibility project to support individuals contributing towards reducing economic hardship and fallout of COVID-19 pandemic across Nigeria, by giving out a

Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

others, “he said. Yahaya, however, warned smugglers to embrace legitimate business, saying the Unit was ready to send them out of illegitimate business.

He also disclosed that the seizure was borne out of intelligence and hard work of eagle eye officers of the unit. “My message to smugglers is that they should stop smuggling and embrace legitimate business because the unit is ready to run them out of business,� he warned.

the country.

The speaker said efforts must be made to remove all bottlenecks in the way of functional EPZs going forward in order to be fully prepare for the AFCTA as well as generate massive jobs for the unemployed youth and enhance our foreign earnings.

Speaking when he received the newly appointed Managing Director, Nigeria Export Processing Zones Authority (NEPZA) Prof. Adesoji Adesugba, in his office, Gbajabilamila warned that the country faces enormous challenge ahead of the AFCTA implementation particularly in the areas of manufacturing and industrialisation.

He said: “We must act proactively so that we don’t become a dumping ground for other African nations. Our best option in this circumstance is to immediately set machinery in motion to ensure the effective functioning and flourishing of our Export Processing Zones. “We must remove all bottlenecks and perfect all stumbling blocks. We will then be fully prepared for AFCTA and also generate massive jobs for our unemployed youth and enhance our foreign earnings.�

In a statement by Head, Corporate Communications, NEPZA, Mr. Martins Odeh, Gbajabiamila, also vowed that

the National Assembly would give total support towards the revitalisation of the free trade zone.

He said: “As things stands today, we have no choice than to make the free trade zones function productively. How can we compete successfully in a post-Covid-19 world and under AFCTA regime? How can we ensure a sustainable recovery from the pandemic?

How can we make Nigeria the number one investment destination? It is mainly by boosting our manufacturing and export capacity, the twin tasks the Export Processing Zones are set up to achieve. We in the legislature will provide legislative and budgetary

support to NEPZA to achieve its mandate. “ He said: “I am particularly elated that President Muhammadu Buhari fished out and appointed a seasoned investment professional as the Managing Director of NEPZA. Mr. President made the right choice and I personally convey our appreciation to Mr. President for this. “I know the new MD very well, his passionate commitment to the sector is never in doubt and his readiness to deliver is well known within the Industry. I urge the new MD to put on his innovative cap by driving the robust functioning of the zones�.

total of N15 million.

Speaking with journalists during a virtual media parley over the weekend, the Head of Corporate Communications and Marketing at Union Bank, Mrs. Ogochukwu Ekezie-Ekaidem, said the bank plans to increase its agency banking nationwide.

She said: “Agency banking is a critical piece of how we are growing our network and channels and we are focused on it. Our agency banking footprint continues to grow at this time and we are

very much focused on growing that network to reach more customers across the country.�

Furthermore, speaking on the ‘Rise Challenge,’ concluded recently, she said: “We launched the rise challenge about five weeks ago which was popular and successful across online channels we received nearly 1,200 entries of people who were doing great things within their communities. “Every week we selected 10 of those stories and rewarded them with N250,000 and we had 40

winners over four week which is a total of N10 million.�

She added: “In the face of this pandemic people are still resilient and putting their best foot forward and trying to rise above the challenge and we are very proud of them.�

Meanwhile she said the bank would continue to focus on reaching more of its customers through its electronic channels as well as through the agency banking network which according to her is critical to its operations.

Also speaking on its continuous support for the educations sector, she said: “We had identified the education sector early on as an area that needed intervention because there were issues before the pandemic and now that we have the pandemic it is a different level of challenges. “Globally, education is going through an evolution given the pandemic and everyone form first world to third world is grappling with what education will look like going forward.�

Efekoha Harps on Professionalism

Senior Correspondent

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

valued at N565million, 66 packs of Tramadol, 872 bales of Second hand clothing worth N61million, 11,077 cartons of frozen products worth N177million. “Also intercepted are 5,423 kegs of vegetable oil valued at N87million, 7,549 jerry cans of Petroleum Motor Spirit (PMS) valued at N27million, 5 containers load of phamaciticals valued at N3million, 64 units of motorcycles used for smuggling valued at N565million among

Union Bank to Expand Agency Banking Network

Emma Okonji

Correspondents

He said, “A quick glance at our seizure reports from 7th January, 2020, shows 64 exotic vehicles including two bullet proofs, 18,760 bags of 50kg of foreign parboiled rice valued at N469million, 1,338kg of Indian Hemp N201million, and 147 sacks (9,504kg) of Pangolin scales worth N10.4billion. “Others are 3,059 cartons of tomato paste, 10,653 cartons of frozen poultry products, 5,423 kegs of 25 litres each of vegetable oil, 56,472 bundles of printed textiles

Gbajabilamila Wants Export Processing Zones Strengthened

Comms/e-Business Editor

Raheem Akingbolu (Advertising)

recovered for the federal government in the period under review.�

According to the CAC, the unit also intercepted a truck load of banned textile materials worth N565 million imported from Benin Republic.

He also disclosed that 18,760 bags of foreign parboiled rice smuggled into the country from Benin Republic and 64 units of exotic vehicles were intercepted and detained for duty evasion and under payment were intercepted.

Ebere Nwoji The outgoing President of the Chartered Insurance Institute of Nigeria (CIIN), Mr. Eddie Efekoha, has said among all achievements he recorded as the president of the institute in the past two years, his effort and success in ensuring that members of the institute acquired cutting edge skills gave him utmost satisfaction.

Efekoha, will on Wednesday July 15, 2020 exit, having completed his two years tenure as the president of the institute.

Speaking in an interview with the media, he said during his tenure as CIIN President, there was growth and development in the intellectual capacity of CIIN members and also the infrastructure of the CIIN; by extension, the College of Insur-

ance and Financial Management which is the training arm of the industry. “While the relationship between the institute and the CII UK was strengthened and among some of the fruits therefrom were revision of syllabus and the domestication of CII textbooks which were launched in June 2020, the institute’s mentorship programme was actualised with

the organisation of an inaugural bootcamp where industry leaders shared experiences with young professionals with the aim of inspiring them to strive for greater achievements,� he said.

Furthermore, he said the college has become the focal point for human capital development for insurance industry in Nigeria, adding that this was evidenced by the partnership between the

College and National Insurance Commission(NAICOM) which resulted in the first-ever Insurance Directors Conference and recently in the Actuarial Development Programme. “Hence, the institute, more than ever before, effectively delivered on its statutory duties during my tenure. “This is not forgetting the tremendous infrastructural development at the college.�

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T H I S D AY Ëž ÍŻÍąËœ 2020

BUSINESSWORLD

PERSPECTIVE

FIRS: Making Stamp Duty New Black Gold Muhammad Nami This matter of making the Stamp Duty (and by implication tax revenue) the next black gold has occupied my mind even long before I was appointed the Executive Chairman of the Federal Inland Revenue Service. I have thought that given the way the Nigerian economy has been experiencing some difficulties due to unpredictable shocks in the competitive international oil market, it would be economically wise that the country begins to activate its latent tax potentials such as the stamp duty which has long been neglected.

For me, the key to Nigeria’s economic prosperity is the tax revenue driven by Stamp Duties in the face of dwindling oil revenue.

Although, the Stamp Duty Act has been in place since 1939, not much attention is paid to it. Yet, if properly harnessed and administered it can be a goose that will lay the golden egg for the Federal Government. My optimism stems from the fact that Stamp Duty has the potential to yield tax revenue in the region of trillions of naira per annum.

For instance, after we carried out an analysis of transactions in the banking sector, we discovered that in 2019 alone the total volume of transactions both chargeable and non-chargeable was over N52 billion of which the total value of transactions was over N613 trillion. If you compute N50 Stamp Duty on the chargeable transactions, of course, your guess is as good as mine. Presently, feelers from certain quarters have it that if the records of stamp duties on chargeable transactions from the year 2000 to present were to be scrutinised it would be discovered that trillions of unremitted stamp duty revenue are realisable.

Thus, I feel excited when recently the President and Commander-in-chief of the Armed Forces of the Federal Republic of Nigeria, Muhammadu Buhari inaugurated the Inter-ministerial Committee on the

Nami

FIXED DUTY INSTRUMENTS

Power Of Attorney (PoA) Certificates of Occupancy (C of O) Proxy forms Appointment of Receiver Memorandum of Understanding (MoU) Joint Venture Agreements (JVA) Guarantor’s form Ordinary Agreements Receipts

AD-VALOREM INSTRUMENTS

Deed of Assignment Sales Agreement Legal Mortgage or Debentures Tenancy or Lease Agreements Insurance Policies Contract Agreements Vending Agreement Promissory Notes Charter-Party Contract Notes

Audit and Recovery of Back Year Stamp Duties. This is an important step towards diversifying the Nigerian economy.

It is obvious that oil revenue has contributed greatly to the various infrastructural developments so far achieved in the country. These developments are noticeable in all sectors of the economy, and they are too many to be accounted for in this short piece. Yet, despite this seeming developmental leap, Nigeria has progressively slid into an import dependent economy from its prime position as an export economy prior to the discovery of oil in 1958.

For me, therefore, it is reassuring that Stamp Duty is an enduring tax type that can withstand any economic shocks because of the varied instruments on which it can be charged. The table below highlights the various instruments on which the Stamp Duty is payable.

In addition to these instruments, any electronic receipt or electronic transfer, money deposited in any bank or with any banker or any type of account of an amount from N10,000 upwards shall attract a singular or one-off duty of the sum of N50. In the same way, Stamp Duty is payable on receipt (written, printed or in electronic form) for transactions or between corporate bodies or between a Corporate body and an individual, group or body of individuals, which value amounts to N10,000 and above.

This then is the hub of my optimism about making the Stamp Duty the next black gold for the Federal Government.

Of course, this is not without its challenges. However, I am upbeat that my team and I are poised to scale the huddles, and to, as a matter of national interest and patriotic zeal, ensure that tax revenue, in deed, the Stamp Duty becomes the next black gold. t/BNJ UIF &YFDVUJWF $IBJSNBO 'FEFSBM *OMBOE 3FWFOVF 4FSWJDF XSPUF GSPN "CVKB

24

MONDAY JULY 13, 2020 •T H I S D AY

MONDAY JULY 13, 2020 • T H I S D AY

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T H I S D AY Ëž ÍŻÍąËœ Í°ÍŽÍ°ÍŽ

26

Dawodu: Investment, Key for Economic Transformation Citibank’s Cluster Head for Sub-saharan Africa, Mr. Akin Dawodu, in this interview spoke about measures policymakers in Nigeria and other countries in continent can adopt to achieve sustainable economic growth in their respective countries. Nume Ekeghe presents the excerpts: and you have seen that. There are some that are potentially commercial, but require in some cases, some government support either via guarantees or partnership. Something that will help to reduce the risk and allow investors to participate by striking the right balance can be difficult to do but it is possible. Governments can focus a bit more on other investments that are less commercially attractive but are very important and need to be done and are typically, the burden of governments.

You can make education and healthcare commercially viable, but at the same time, the government still needs to bear a good chunk of the burden because of the strategic nature of these sectors and because the commercialisation of it may make it complicated for it to be universally available too. So, some sort of balance has to be struck there, but then the government still needs to outsource some of its resources towards those sectors.

I think, in summary, investment is the key and direct, long-term investment in creating an environment where business works.

What has been the impact of COVID-19 on Sub- saharan Africa (SSA)?

SSA economies like the rest of the world has been in shock and it was one of those things no one saw coming. Six months ago, when we talked about 2020 forecast, it was very unlikely for anyone to have predicted there would be a pandemic that would shut down the global economy and completely change the calculus or expectations on the macroeconomic side. To that extend, it has been a real surprise especially when one thinks of global crisis like depression and recession occasioned by asset bubbles or fiscal excesses or balance of trade problems that have been seen before. This pandemic has really been a challenge. When we look at SSA historically, it has been viewed as comparatively underdeveloped economically relative to many global economies. In terms of fiscal flexibility, SSA has its limitations especially when comparing the region to more developed economies that are able to finance palliatives or expand money supply and employing quantitative easing as a tool. The impact has been in two folds. For commodity exporters there has been impact especially when looking at oil prices. Also in general, the lockdown in countries have affected aggregate demand and market activity which has led to a slowdown in Gross Domestic Product (GDP). So, even if you are not a commodity exporter and you are a net importer in which case the drop in commodity price is good for you and there a few countries in this category in SSA, the slowdown in your economy occasioned by the global health crisis and more specific the lockdowns in their country means you get less tax receipts, less profit to tax, less activities, more unemployment which also brings your Gross Domestic Product (GDP) into negative territory or slowing down quite significantly. SSA’s access to the international market has also been constrained because most of the sovereigns in SSA are non-investment grade and non-investment grade countries have struggled more in terms of liquidity and the impact has been significant. There have been some positive trends in response to the crisis that has helped and there are signs that SSA is coming to terms with the situation and getting some relief in various forms to weather the storm. However in my opinion, it is going to be a storm that would be with us for a while.

which is a key aspect of our strategy and it has allowed us to showcase some of our capabilities and encourage our clients to move to online channels. The migration process has been ongoing and the crisis simply accelerated the process for many of our clients. So, overall it has been good to see the progress and the traction in that space. We have also focused on making sure we are adequately capitalised and our balance sheet remains strong and liquid. We have always been very strong on credit risk management side and we have continued to do this.

For Citi, in Africa, how are you supporting your clients through this crisis?

At Citi, we continue to engage our clients because we exist for our clients. The important part of making it through the storm is making sure our clients make it through this period. Our clients range from public sector to corporate entities, financial institutions, multinationals and we have been constant and consistent in our engagement. For instance, with our sovereign clients, we have trusted advisory partners and we are working on solutions to support them particularly through this period. In some cases we work with multinationals and export agencies to find structures that would allow them access to liquidity that they need whether in foreign currencies or otherwise. We have continued to act as a bridge to the rest of the international capital market in Africa and we continue to play our role in keeping trade transactions flowing by providing the necessary finance and credit line to our clients to the extent we can. We also offer advisory services around risk mitigation. Citi is a global institution present in 98 countries globally and we have a particularly strong presence in Asia and that has allowed us to get an insight to what was going on regarding the crisis and we were able to respond as an organisation in terms of best practices whilst adopting relevant precautions. In a variety of ways, we have tried to put at the disposal of our client’s solutions that would help them navigate the crisis. We have also switched to digitisation

There are projections that oil might inch upwards to $60 per barrel, and with that in mind, what recommendations would you give to policymakers in commodity exporting countries in Africa?

I think the challenges for SSA and Nigeria are not entirely different from those of many countries in SSA. I think oil at $60 is good of course, but I think in the longer term, we have to figure out as a region and as a country, how to protect our country better from the impact the global commodity market.

If on the revenue side we remain heavily dependent on oil, because it is difficult to control the price, you find yourself possibly changing your budget each time the market moves one way or the other. I think that in general there should be a reduction on oil especially from a fiscal and external balance prospective. So, investment is the real solution for growth. SSA countries need investment in infrastructure - both physical and social and the Covid-19 crisis has seriously emphasised this point.

Social infrastructure such as education, health care, are more important than physical infrastructure. Roads or trains tracks are physical infrastructure you build, but the social infrastructure is the software on which that physical infrastructure would run, because it is people that are going to maintain your infrastructure for you and you need those people to be skillful, educated and healthy.

So, Nigeria as a country and SSA as a region, require this investment.

Dawodu Unfortunately for many regions, the revenue government generates, are not sufficient to make those investments as well as running the government itself. This varies from country to country – some have a higher cost of running their governments, higher salary or government maintenance bill, while others have less. So, you have to figure out how you’re going to get outsiders to help you and by outsiders, I don’t mean foreigners alone.

International investment is important, as well as domestic investors. You have to create an environment where private sector can thrive both at the country level and as a region. It is a critical success factor, otherwise SSA is likely to continue to lag behind the rest of the world. Therefore, the focus has to be on making the countries attractive for investors.

For the commodity- dependent countries, it’s even double important - they have to do more in that regard. Due to historical commodity dependence they have been slower to opening themselves up. On the other hand, some other countries that are not commodity-dependent and probably not exporters have recognised it as part of life a while ago, and have had to survive by their ability to do it. The real opportunity in countries like Nigeria is dependent on how successfully you can open yourself up to both internal and external investors.

If you look at savings rates across Africa as a whole especially in Nigeria, there is relatively low savings rate, so the money is not going to come from local sources alone.

You need to attract international liquidity and I think that has to be the future. Whether oil is $60, $40 or $10, I think the economy would not truly grow and reduce poverty if we do not find a way to attract investment needed to support the government in its effort to develop the economy. It goes various ways, there are some investment opportunities that are more investor-friendly and that are more commercial. Those are literally the first to go. For instance, mobile phones are a classic example, that one is easier to monetise, it is easier to make it commercial, so investors snapped that up

You talked about attracting investment, but clearly one sector that seems unattractive or commercially viable ispower.

What can be done to make investment in power sector attractive?

It’s a function really of creating the right environment. The power sector in Nigeria is not congenitally unattractive, neither is it commercially unattractive. Privatisation was done in 2012/2013 and some of the correct steps were taken originally, which was to unbundle the power utility and break it into three parts - Generation, Transmission and Distribution.

The tariff structure was put in place, and expectations of the future changes but when the time came to honor those tariff changes, from a political and regulatory perspective there was a reluctance to invest further. So, nobody is willing to invest. The people who had already invested would not invest more and potential investors would not invest at all. It can be made attractive, but there has to be the will on the regulatory and government side to allow it to be so. I also believe that the sector has to pay for itself and if it can’t we would have to continue to struggle.

Financial inclusion remains an issue in some countries in Africa. What do you think can be done to include more persons in the ďŹ nancial system in Nigeria?

There are two aspects to it, you can talk about channel and technology especially as things get more digital which I think is a good tool. A lot of the countries who have mobile money have improved statistics because everybody has a phone and if your phone is also your bank, then that’s easier.

So, technology and channels are good ways to increase financial inclusion.

But the more relevant point really is financial inclusion via channels is one thing but economic inclusion is another. So, I can have access to my bank via my phone but, I have no money, I have no access to credit.

That is always certainly more challenging and I think it is the more profound change that needs to happen.

Do not judge that because people have access to financial channels nominally but that they do so in actuality and that involves again the general growth and economic advancement. It involves investments in infrastructure, it involves things like credit scoring or credit rating, finding a way to do it on an individual detail scale, so that people can have some kind of credit score, credit history and can be appraised in terms of their ability to service debt and as a consequence in terms of their actions to credit. Also, being able to democratise that to make it universal will help to get people access to economic inclusion, in addition to nominal financial inclusion as well because that’s what really counts - that is what really lifts people from poverty.

T H I S D AY Ëž JULY 13, 2020

27

CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

Boosting Community Infrastructure through Self-help Through the help of patriotic indigenes, Mgbuji autonomous community, Eha-Amufu, Isi-Uzo Local Government Area, Enugu State, is shedding its old robes and embracing new vista of development, writes David-Chyddy Eleke

Long strech of the road under construction

G

oing by the enormous mineral deposits and agricultural produce domiciled in the area, Mgbuji community can be described as Enugu State’s untapped goldmine.

With a vast arable land running into hectares and about 25 farms settlements, the people produce large quantities of palm oil, yam, rice, garri, cassava enough to feed the entire Enugu State and beyond.

They also have a sprawling timber business which serves the wood needs for all house construction and building project while their vast land mass are endowed with large deposits of lead, iron ore, limestone and refractive laterite which the government can also exploit.

But the community has been battling with the problem of lack of access roads from time immemorial. Agricultural produce from the area sells at peanut because there is no easy route to evacuate them to the urban areas.

But respite came recently in the area when the Governor Ifeanyi Ugwuanyi administration completed and commissioned the first phase of the Ikem- Eha-Amufu road.

Desirous of making a difference in Mgbuji autonomous community, some progressive minded people in the area also decided to complement Ugwuanyi’s efforts in opening up the rural communities.

THISDAY gathered that the people of Mgbuji have been striving on their own over the years to address the challenge of bad roads.

To underscore this, the community ploughed N5million seed money from the Enugu State government choose- your- project- initiative into the road project.

The Enugu State seed money became a boost that gingered good spirited individuals from the area to contribute further funds into the project. Today, what used to be like a like a footpath and track road plied only with bicycles has been developed into a major road, with earthwork and laterite at an advanced stage awaiting asphalting. The road measuring about 50 kilometers length links Enugu with Benue State.

Chijikoke Edeoga, former member of House of Representatives and presently commissioner for environment, Enugu State said the project is very dear to the hearts of the people from the area and they are not looking back despite the fact that several millions of naira have been pumped into the project.

Hon. Edeoga and other stakeholders of Mgbuji with the Local Govt Chairman, Abonyi during the road inspection “This is all about community development efforts and we are doing road construction, bridges and culverts. It’s a long standing project of many years where many contributed to it in the past but the present era decided to take it far beyond. “From the seed money of N5 million community choose your project initiative of Governor Ifeanyi Ugwuanyi, the President General of the community in his wisdom and in consultation with other progressive minded stakeholders from the community decided to plough the money into the road

project and thus began a development trajectory that has consumed several millions of naira and still counting while the people are happier for that."

Recently, there was excitement in the community, when the project implementation committee toured the project site and locations. Chukwuma Edeh, legal practitioner and President General of Mgbuji community said the people thought it wise to make a move and complement government efforts instead of waiting for the government to do it all.

This is all about community development efforts and we are doing road construction, bridges and culverts. It’s a long standing project of many years where many contributed to it in the past but the present era decided to take it far beyond

“The massive road project when completed will lessen the problem and burden of our people. The secret of our moving forward in the project is the spirit of boldness and unity of purpose existing among us. With an incredible farm settlements that has engaged many people of the community into farming, the people have been yearning for access roads where they can evacuate their farm products and also sell at the right prices and we are happy it is becoming a reality now� he said.

Another indigene of Mgbuji community, Goddy Ogenyi, former commissioner for Human Capital Development and poverty alleviation, Enugu State said the road project hold so much prospects both for the people and other travelers alike.

Also, Austin Akunne, Chairman, Enugu East Development Council and chairman, works implementation committee for the project disclosed that there are about eight villages in the community that are inaccessible before now especially during the rainy season and expressed excitement that the ongoing project has changed the situation for the better.

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BUSINESS/MONEYGUIDE

FG Distributes Subsidised Fertiliser to Vulnerable Farmers James Emejo Ă“Ă˜ ĂŒĂ&#x;ÔË Minister of State for Agriculture and Rural Development, Hon. Mustapha Baba Shehuri has flagged-off the distribution of subsidised fertilizers to select vulnerable farmers as part of COVID-19 palliative to mitigate its impact on food security.

He said the programme which is in partnership with OCP Africa Fertilizer Limited, reinforces President Muhammadu Buhari’s determination to improving the local production of fertilizer in the country in order to enhance productivity and household incomes targeted farmers as well as contribute largely to food security in the country.

Speaking at the flag off at

Karshi market, Karshi, Abuja, the minister stated that similar gesture would be extended to other select farmers across 11 states and will cover 50,000 farmers with 2 bags of subsidised NPK fertilizers at N4, 500.00 per 50kg bag.

He reiterated Buhari’s focus on the agricultural sector.

He said: “You are quite aware that agricultural sector of the economy is one of the key sectors that Mr. President has accorded a lot of priority attention and enormous responsibilities to pull the country out of poverty through repositioning the sector with all the required supports’’. “The ministry has embarked on the expansion of the various sub-sector value chain activities in crops, livestock, fisheries and

key priority sectors such as provision of quality agricultural inputs particularly fertilizers, seeds, tractors, equipment and implements, agro-chemicals among others.�

He said: “The ministry is also paying attention to areas of land and climatic change management, rural infrastructures such as rural roads, water supply, some upstream and downstream activities in processing and value addition.�

Shehuri added that as part of Buhari’s determined effort to improve the local production of fertilizer in the country, the federal government entered into bilateral agreement with the King of Morocco for the supply of Di-ammonia Phosphate (DAP).

FCMB,OthersTaskWomenonBusinessDevelopment Women in Nigeria have been urged to play a more active and frontal role to stimulate the growth of businesses and overall development.

The advice was given by the President and Chief Executive Officer, Global Fund for Women (GFW), Ms. Latanya Mapp Frett, who was the Special Guest Speaker at the fourth edition of the Women FinancingWomen (WFW) Group meeting hosted

by First City Monument Bank (FCMB) and SME.NG (Nigeria’s SME Impact Investment Platform) in Lagos, recently.

The WFM quarterly meeting, which was held virtually provided a platform for women entrepreneurs to come together and share experiences on how the COVID-19 has affected businesses and proffer solutions to the various challenges posed by the pandemic.

According to Frett, the absence of women in key leadership positions has limited the ability and capacity of women-owned

businesses, including Small and Medium Scale Enterprises (SMEs), to secure the relevant support to ensure their success.

She added: “The inability of women to reach the very top of leadership positions is a limitation to reach our goals. These include long term opportunities to influence the attainment of international sustainability targets in a manner that would impact positively on the well-being of women and their endeavours, especially in the area of business and other socio-economic activities�.

Also speaking at the meeting, the Executive Director, Business Development FCMB, Mrs. Bukola Smith, stated that FCMB has been supporting businesses for several years and has been very deliberate in this regard for women owned SMEs. This includes the setting up of a women in business proposition, known as SheVentures to meet the various needs of women entrepreneurs.

“SheVentures is a brand for FCMB’s Women in Business proposition, which provides financial and business support to women owned businesses enabling them to unlock potential, scale up and build sustainable businesses with significant impact on the economy�, she explained.

Smith, who is a member of WFW, noted that the FCMB SheVentures initiative was centered on four pillars - Access to capital which encompasses the SheVentures zero interest loan granted to over 160 Women SMEs since last year, Gender Intervention Funds and Equity funding through collaboration with SME.NG to give ready women SMEs access to women investors; Access to knowledge which ensures that women entrepreneurs are guided with the proper training and robust mentorship programs to help them navigate and understand the business environment; Access to network and Access to market.�

SigmaPensions Pledges HigherReturnsforCustomers Nume Ekeghe Sigma Pensions has stated its commitment to protecting and improving customers’ returns on investment amidst the global economic shocks.

The Head, Research & Strategy, Sigma Pensions, Mr. Adewale Okunrinboye gave this reassurance over the weekend at the company’s Webinar where he spoke on ‘Reshaping the Future of Work & Optimizing Investment returns after a Pandemic.’

Okunrinboye said: “The way we designed our investment strategy is always thinking of the long-term focus. We ensure that that our portfolio is well diversified and even if there is volatility, our ability to recover back is very strong such that it is not a loss situation. Also, beyond the short-term volatility, we are also constantly scanning to better opportunities such as investing in companies that are the most innovative in their sectors whatever the sectors.

“So, because we are focused on the long term, we have the tolerance to wave through it and that is something that something that should always be reassuring to our customers.�

Furthermore, he said: “For equities, focus on companies which are leaders in their field from a technology perspective.

Telecoms firms, fintech players and e-commerce. In addition, healthcare is also a focus as the more funds will go into pharmaceuticals, hospital care etc.

HP Introduces New Multifunctional Printers HP Inc. has introduced new printing devices for home use for its consumers in Nigeria, and around the world. They include the Deskjet 2300, Deskjet 2700, Deskjet Plus 4100, DeskJet Plus Ink Advantage 6000 and DeskJet Plus Ink Advantage 6400.

A statement explained that the new multi-functional products were designed specifically for today’s families who keep an active lifestyle whilst effectively combining work, study and entertainment.

It noted that the updated models offer additional features, an optimized setup procedure and improved print quality thanks to the original HP ink cartridges

with increased capacity - the new high-capacity supplies of the 305 and 653 series. “The HP DeskJet Plus Ink Advantage 6075 and the HP DeskJet Plus Ink Advantage 6475 are designed to meet the needs of each family member and will be able to effectively cope with any tasks. The new MFPs support wireless connectivity and printing from a smartphone using the convenient HP Smart app with mobile fax feature. The HP DeskJet Plus Ink Advantage 6475 features two-sided printing and is equipped with a 35-sheet automatic document feeder (ADF) to minimize downtime.

“Thanks to the ergonomic and stylish design, HP DeskJet Plus Ink Advantage model printers will seamlessly fit into any home interior and will not take up much space. In addition, the devices were developed with HP’s Sustainable Impact strategy in mind - their case consists of more than 20 per cent recycled plastic. “With its intelligent interface, it’s simple and intuitive control panel is equipped with a customizable backlight that displays the status of the printer and automatically lights up if necessary, notifying you of the status of Wi-Fi connections,� it added.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

SEPTEMBER 2019 Money Supply (M3)

35,029,779.72

-- CBN Bills Held by Money Holding Sectors

7,374,356.91

Money Supply (M2)

27,655,422.82

-- Quasi Money

116,533,891.21

-- Narrow Money (M1)

11,121,531.60

---- Currency Outside Banks

1,625,047.69

---- Demand Deposits

9,496,483.91

Net Foreign Assets (NFA)

13,911,335.83

Net Domestic Assets(NDA)

21,118,443.89

-- Net Domestic Credit (NDC)

35,918,179.45

---- Credit to Government (Net)

10,452,199.38

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

11,007,422.79

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

25,465,980.07

---- Credit to Private Sector (CPS)

-14,799,735.56

--Other Assets Net

7,000,253.07

Reserve Money (Base Money

2,005,600.83

--Currency in Circulation

4,677,530.81

--Banks Reserves

317,121.43

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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OPEC DAILY BASKET PRICE AS AT THURSDAY, 9 ULY 2020

The price of OPEC basket of thirteen crudes stood at $43.31 a barrel on Thursday, compared with $43.44 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

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T H I S D AY Ëž ÍŻÍąËœ 2020

MARKET NEWS

SEC, NITDA Collaborate on Data Protection in Capital Market Goddy Egene The Securities and Exchange Commission (SEC) has restated its preparedness to collaborate with the National Information Technology Development Agency (NITDA) to foster safe conduct of transactions and usage of personal data in the Nigerian capital market.

Director General of the SEC, Mr. Lamido Yuguda, stated this during a webinar on Nigerian

data protection regulation and how it affects the capital market.

Yuguda stated that the commission is serious on the issue of data protection in the capital market saying that going forward, the commission would continue to create necessary awareness.

He said: “You may all recall that in 2019, NITDA issued the Nigerian Data Protection Regulation (NDPR) with the objectives to safeguard the

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rights of natural persons to data privacy; foster safe conduct for transactions involving the exchange of personal data; prevent manipulation of personal data; and ensure that Nigerian businesses remain competitive internationally. “By this regulation therefore, all private and public organisations that collect, process, store, archive and destroy data of natural persons in Nigeria or of Nigerians resident abroad

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are required to comply with the provisions of the Regulation. Since the Commission and indeed all Capital Market Operators perform these activities on data as covered by the NITDA NDPR, we are also subject to the new regulation, in one way or the other. That explains the reason behind organising today’s webinar to enlighten the capital market community on the provisions of the NDPR.�

The SEC DG assured partici-

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pants that the new management would make it a duty to interact with the market from time to time in a bid to develop the capital market and improve its contribution to the economy.

Yuguda expressed the hope that the lessons gained from the session would impact the operations of participants meaningfully and lead the capital market to full compliance with NDPR. The SEC boss last week assured investors that this market

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is for investor, stressing the commission was ready to do everything to ensure that they increase investor enlightenment through education, robust regulation and fair dealing. “For those that want to defraud investors, there would be no respite because we are ready to fight market manipulation to the last, anyone that flouts our rules will be made to face the consequences of their actions,� he said.

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IMAGES

T H I S D AY Ëž ÍŻÍąËœ Í°ÍŽÍ°ÍŽ

Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

L-R: Deputy Governor, Mr Rauf Olaniyan; Governor Seyi Makinde; Speaker, Oyo State House of Assembly, Mr Debo Ogundoyin; Chief Judge, Justice Munta Abimbola; and President, Customary Court of Appeal , Justice Ade Aderemi, during the inauguration of the Family Court in Ibadan...recently

Deputy Governor of Bayelsa, Sen. Lawrence Ewhrudjakpo (leftl) and Representative of the Controller-General, Federal Fire Service (FFS), Mr Thompson Mohammed, during the latter’s visit to the Governor’s OďŹƒce in Yenagoa...recently

L-R: Brig Gen. Samuel Bitrus; Governor’s wife, Pat Ugwuanyi; former Governor of old Anambra State, Senator Jim Nwobodo; Enugu State Governor, Ifeanyi Ugwuanyi; General OďŹƒcer Commanding 82 Division of the Nigerian Army, Maj. Gen. Lasisi Adegboye; Chairman, Enugu South Local Government Area, Hon. Monday Eneh and State Commissioner for Works and Infrastructure, Mr. Greg Nnaji, during the inauguration of 14 Bay Bailey Bridge across Nyama River, at Amechi, Enugu South LGA...recently

Team leader of Ogun State Healthcare Workers,Dr. Abdul Azeez Salami (left) and State Commissioner for Health, Dr .Tomi Coker after the safe delivery of the female newborn by a 28 year old COVID-19 patient at the State Hospital Ijaiye, Abeokuta...recently

Minister of State for Science and Technology, Mohammed Abdullahi (left) and Mai Yakanaje of Uke, Nasarawa state, Alhaji Ahmed Hassan, during the latter’s visit to the Minister in Abuja...recently

The outgoing President, Rotary Club of Lagos, Abiodun Osiyemi (left) decorating the 60th President, Dare Adeyeri with the oďŹƒcial Collarette during the handing over ceremony of the Club to the new president in Lagos...recently

L-R: General Manager, Sales & Special Operations, Trace, Mr. Bassy AnnieďŹ ok; Managing Director/CEO, Trace Anglophone, West Africa, Mr. Sam Onyemelukwe; General Manager, LG Electronics, West Africa, Mr. Kenny Cho and Head of Marketing, Hari Elluru, during o media parly and signing of TraceLG Partnership sign o event, in Lagos...recently

L-R: The Alake of Egbaland, Oba Adedotun Aremu Gbadebo and the Convener/ Founder of the Oyenola Oluwole Foundation, Asiwaju Oyenola Oluwole, during a walk and outdoor exercise campaign against rape and female genital mutilation, held in Abeokuta...recently

31

MONDAY, JULY 13, 2020 ˾ T H I S D AY

MARKET NEWS

Vetiva Projects Average Brent Price of $44 Per Barrel for 2020 Goddy Egene Vetiva Research has projected that Brent crude oil price will average $44 per barrel (bbl) and $47/bbl

in third quarter (Q3) of 2020 and fourth quarter (Q4) of 2020 respectively. Vetiva’s projection, contained in its second half (H2) 2020 outlook titled: ‘The viral

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

shock,’ for Brent price is supported by anticipated recoveries in oil demand in H2 of the year.

Commenting, the Oil & Gas Analyst at Vetiva, Luke Ofojebe,

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 09Jul-2020, unless otherwise stated.

said: “As business activities restart across the world, we fore see considerable recoveries in oil consumption through the second half of the year, though

not enough to lift demand to the 2019 levels of roughly 100 mb/d.

In our view, we believe demand will remain shy of pre-pandemic levels in the medium term, as many

services firms structurally adjust to embrace work-from-home as the new normal, while the airline industry is starting the long trudgeto recovery.”

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.92 0.92 1.67% ACAP Income Funds 0.78 0.78 9.61% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 6.41% AIICO Balanced Fund 2.85 2.91 15.71% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 14.13 14.55 -7.76% ARM Discovery Fund 334.75 344.84 -3.09% ARM Ethical Fund 30.02 30.93 3.24% ARM Money Market Fund 1.00 1.00 4.90% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 92.67 93.32 -3.55% AXA Mansard Money Market Fund 1.00 1.00 5.06% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.17 2.17 24.39% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 1.82 1.84 -4.98% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 0.07 0.05 6.59% Paramount Equity Fund 11.12 11.23 -11.52% Women's Investment Fund 108.70 109.60 -1.58% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 5.09% Cordros Milestone Fund 2023 98.45 98.67 Cordros Milestone Fund 2028 100.63 100.87 Cordros Dollar Fund ($) 101.10 101.10 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 3.75% Coronation Balanced Fund 0.92 0.93 -0.96% Coronation Fixed Income Fund 1.54 1.54 16.17% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,362.13 1,363.43 11.78% FBN Balanced Fund 148.03 149.06 0.82% FBN Halal Fund 106.82 106.84 6.82% FBN Money Market Fund 100.00 100.00 4.81% FBN Nigeria Eurobond (USD) Fund - Retail 117.50 118.00 1.24% FBN Nigeria Smart Beta Equity Fund 114.06 115.48 -12.35% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 4.34% Legacy Debt Fund 3.78 3.78 3.52% Legacy Equity Fund 1.09 1.11 -4.11% Legacy USD Bond Fund 1.11 1.11 2.67% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,077.90 3,109.70 1.19% Coral Income Fund 3,186.44 3,186.44 3.60% FSDH Treasury Bills Fund 100.00 100.00 4.44% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 4.36% Vantage Balanced Fund 2.24 2.28 2.35% Vantage Guaranteed Income Fund 1.00 1.00 8.86% Kedari Investment Fund (KIF) 147.26 147.81 2.67% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.23 1.25 5.38% Lotus Halal Fixed Income Fund 1,138.41 1,138.41 5.54% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.39 1.41 13.66% PACAM Fixed Income Fund 11.98 12.03 6.26% PACAM Money Market Fund 10.00 10.00 3.40% PACAM Equity Fund 1.03 1.04 PACAM EuroBond Fund 107.00 109.36 SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 108.00 111.49 1.32% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.00 1.00 5.14% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.13 1.15 -5.83% United Capital Bond Fund 1.83 1.83 5.58% United Capital Equity Fund 0.64 0.66 -9.46% United Capital Money Market Fund 1.00 1.00 5.11% United Capital Eurobond Fund 115.81 115.81 3.54% United Capital Wealth for Women Fund 1.06 1.07 -2.55% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.08 10.20 -1.89% Zenith Ethical Fund 11.68 11.77 0.43% Zenith Income Fund 24.43 24.43 9.72% Zenith Money Market Fund 1.00 1.00 3.55%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

116.13

3.64%

53.10

2.02%

Bid Price

Offer Price

Yield / T-Rtn

8.86 84.10 65.80

8.96 85.92 66.97

1.76% -1.02% -0.32%

Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.83 4.10 11.11 1.00 10.84 197.06

2.87 4.18 11.21 1.00 11.04 199.06

-20.13% -30.40% -8.21% 5.26% 4.30% 4.22%

NAV Per Share

Yield / T-Rtn

108.29

16.90%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

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MONDAY, ͹ͻ˜ ͺ͸ͺ͸ ˾ T H I S D AY

PAGE THIRTY-SIX REVEALED: MAGU FAILED TO SUBMIT EFCC AUDITED ACCOUNTS FOR FOUR YEARS every year.

It states: “The Commission shall, not later than 30th September in each year, submit to the National Assembly, a report of its activities during the immediately preceding year and shall include in such report the audited accounts of the Commission.”

Despite the refusal of the Eight Senate to confirm his appointment, first in December 2016, and later in March 2017, the agency was still required by law to submit its annual accounts as done by Magu’s predecessors, Mallam Nuhu Ribadu, Mrs. Farida Waziri and Mr. Ibrahim Lamorde in compliance with the establishment Act. Critics say the insistence of the presidency in keeping Magu in office in an acting capacity, despite non-confirmation may have stalled accountability and oversight of the commission even as the National Assembly approves the agency’s budget every year.

This faceoff with the Senate enabled Magu to operate the way he did without any scrutiny, a development that negated the practice of the commission under his predecessors, Ribadu, Ibrahim and Lamorde, who complied with the provision of the law by submitting their annual reports and audited accounts to the National Assembly.

Analysts told THISDAY at the weekend that the kind of financial fraud, Magu is being accused of could only occur in an unsupervised organisation, adding that had the EFCC put itself through the process of an independent audit, a number of the issues Magu is now being accused of might have been resolved.

The Senate had in December 2016 rejected Magu’s nomination as chairman of the commission on the strength of a damning security report by the State Security Service (SSS), which declared him unfit for public office, saying his credibility could not be guaranteed.

Rather than withdraw Magu’s nomination, the presidency represented him in March

2017. Again the Senate refused confirmation and resolved not to consider him again for the position.

The presidency responded by maintaining him in an acting capacity, arguing that it did not require Senate approval for Magu’s appointment since the establishment act requiring legislative approval was in conflict with the power of the president to make executive appointments under the constitution.

With the Senate resolving not to have any dealing with Magu, the commission became unable to present its annual report to the National Assembly.

Analysts said had the reports been filed all of the issues that are being raised now would probably have been detected by the National Assembly.

“With this kind of situation,” said one analyst, “Magu would appear to have operated without supervision by either the National Assembly or the Attorney General of the Federation and Minister of Justice, as the minister’s petition accusing him of insubordination has suggested.”

According to another analyst, this absence of legislative oversight would have been avoided if the presidency did not insist on having Magu as the boss of the anti-corruption agency.

Magu was accosted last Monday and taken before a presidential panel of enquiry led by Justice Ayo Salami, investigating allegations of corruption and insubordination brought against him by his supervising minister, Mr. Abubakar Malami.

Aggrieved Staff Leak Information to AGF’s Office THISDAY also gathered at the weekend that disgruntled members of staff of the commission have been fingered as leaking vital information about Magu's activities to the Office of the AGF’s office, paving the way for his ongoing probe by a presidential panel.

Magu is answering questions

on the 21-point allegation of financial impropriety and fund diversion levelled against him

by Malami.

The panel widened the probe last Thursday as it quizzed the commission’s Secretary, Mr. Olanipekun Olukoyede, and other directors of the commission.

THISDAY learnt that the panel summoned the top management officers from the commission to narrate all they knew about the allegations against their boss.

At the end of their conversation, the panel was said to have directed the directors and sectional heads in the EFCC to produce files of cases handled since 2015, including forfeited assets’ register and all cash releases within seven days.

However, some the EFCC officials told THISDAY at the weekend that many of them were disgruntled with Magu's stewardship and accused him of high handedness and neglecting staff welfare.

They said there was a point Magu owed a backlog of salaries and allowances, adding that they had it tough under his leadership.

Magu was said to have worked with a few investigators and operatives called 'Magu Boys" to the detriment and envy of others, triggering a backlash in the form of leakages of official documents and files.

“At a time, workers were owed five months arrears of salaries and allowances and they threatened to take the matter to a popular radio talk show, "Berekete Family," aired by Human Rights Radio, to express their grievances and call on the management to clear the arrears of salaries and allowances,” a source told THISDAY. It was learnt that the threat led the EFCC management to intervene after giving several excuses that the agency’s money was held up “somewhere.”

"At a point, we were owed five months arrears of salaries and allowances. We could not feed our family and do basic things.

"We were organised and

threatened to go to Berekete Family (radio show). We gave them an ultimatum, which they could not meet but at the dying minute, they called to say they have found money to pay," another source, who spoke anonymously, said.

He added that the workers queried the position by the management that they found money to pay.

He said: "Why do you have to owe for five months and now have to find money to pay?

This is a government agency, an important security agency at that. Where were the arrears kept that you had to look for it for five months?"

THISDAY gathered that investigators who worked closely with Magu were allegedly accorded special treatment, which brewed bad blood that eventually led to internal sabotage.

When contacted by THISDAY, spokesman of the commission, Mr. Dele Ojewale, declined to comment on the matter.

SAN Seeks Bail for Suspended Anticorruption Chief Meanwhile, a Senior Advocate of Nigeria, Mr. Tayo Oyetibo, has called on the federal government to either charge Magu to a court or release him on bail.

He said the continued incarceration of the suspended head of EFCC was a violation of Section 35 of the Constitution.

Oyetibo said though the EFCC under Magu was guilty of unlawful detention of Nigerians, the law of Karma had no place in the constitution.

In the statement titled "Magu Still Has Rights," Oyetibo said despite the allegations against him, Magu had not lost his constitutional rights.

"On Monday, July 6, 2020 it was widely reported that the now suspended Acting Chairman of the EFCC, Ibrahim Magu, was arrested and taken before the Justice Ayo Salamiled panel of inquiry set up by the president to investigate a number of allegations raised against him.

"As of today (yesterday) Sunday 12 July 2020, Magu is reported to still be in detention whilst the investigation of the allegations made against him continues.

"Although the allegations made against Magu are said to be documented and border on serious economic crimes and abuse of office, that does not mean that he has lost his constitutional rights.

"Amidst the cacophony of allegations of serious crimes made against Magu, the law of Nigeria still speaks the same language, which is expressed in section 35 of the Constitution of the Federal Republic of Nigeria, which provides to the effect that every person who is arrested or detained upon reasonable suspicion of his having committed a criminal offence shall be brought before a court of law within a period of 24 hours in the case of an arrest in a place where there is a court of competent jurisdiction within a radius of 40 kilometres otherwise he ought to be released on bail," he stated.

He added that since there is a court of competent jurisdiction within a radius of 40 kilometres within Abuja where Magu was arrested, he should be taken before the court.

"While it may be argued that the EFCC which Magu hitherto headed was notorious for ignoring this constitutional provision in relation to citizens who were arrested under him, the law of Karma has no place under our constitutionalism.

"For these reasons, Magu ought to be released on bail forthwith as otherwise the government would be acting excessively in breach of his rights," he added.

Global coalition writes Buhari over anti-corruption fight In a related development, global groups working against sleaze have said the unceremonious exit of Magu may erode the recent gains in the fight against corruption.

World acclaimed anticorruption groups, Re:

CBN, BANKS COMMIT N25BN TO NATIONAL THEATRE, OTHERS’ UPGRADE of creating new employment opportunities for Nigerians.

The CBN governor said the handover was timely considering the external headwinds facing the economy presently.

He noted that the impact of the COVID-19 on the global economy and the containment measures put in place to contain the spread of the virus had led to a slowdown in global growth which has also affected the Nigerian economy.

“Given our dependence on crude oil as a major source of government revenue, as well as for our foreign exchange earnings, these challenges have served to reinforce the need for stakeholders to promote policies and programmes that will enable greater diversification of the Nigerian economy.

“A diversified economy that supports increased productivity in agriculture and manufacturing sectors, while harnessing the talents of our youths in the creative industries will lead to the build-up of a more resilient economy, which is better able to withstand external shocks, while creating wealth and jobs for our growing population,” he said.

Emefiele, who is also the Chairman of the Bankers’

Committee, said upon completion in another 18 months, the facility would have transformed into Nigeria’s Creative Industrial Centre, which would be comparable to other world-class entertainment and convention centres in any part of the world.

"The creative centre, which comprises music, movies, fashion and ICT, can be a key source of growth for our economy creating up to one million jobs for the country’s teeming youths," he said, adding that it would also aid the objective of reducing the country’s dependence on revenue from crude oil.

Emefiele explained: “India for example in 2018 generated over $240 billion from exports of IT, movies, music and fashion related goods and services.

This amount is over five times our annual earnings from the sale of crude oil. With our human capital resources and an enabling environment that will help harness the creative talents of our youths, Nigeria has the potential to earn over $20 billion annually from the creative industry.

“With the growing demand for Nigerian music, movies and fashion, across Africa and in various parts of the globe, our creative industries are spurring

innovation, creating jobs, and helping to shape perceptions of Nigeria, as a nation with a strong spirit of creativity and ingenuity.

“We must do more to encourage the innovative works of these young talented Nigerians as they can make significant contributions to the growth and development of our country.

“Second, given our growing population of close to 200 million people, out of which 60 per cent are under the age of 35, it is imperative that we strive to create opportunities that will keep our youths engaged, as it would portend great dangers for the progress of our nation if we allow these talents go to waste.”

Mohammed said the agreement was for the Bankers’ Committee to transform and upgrade the facility.

According to him, “The Federal Ministry of Information and Culture will continue to hold the key to the national theatre on behalf of all Nigerians.

“This iconic National Theatre remains a national heritage and will not be ceded to anybody or group as some have chosen to call what we are doing here today.

“This is a public-private

partnership, which has two phases. Phase one is to restore and upgrade the National Theatre to its glory days. Phase two will be the development of the fallow land within the premises. This project will not lead to a single job loss, instead, it will create more.

“Some 6,000 jobs would be created during the construction phase and the completed project would generate up to an additional 600 permanent and 2,000 jobs. The project which has been approved by the president is a win-win for everybody. Attempts in the past to restore the national theatre to its glory days had failed.”

Sanwo-Olu commended the president, the CBN governor and the banks for the initiative.

He said: “We have agreed and said in the next 18 months maximum, there is no contract delay. Maximum, in the next 22 months, we would bring Mr. President here and walk him around the new refurbished National Theatre and all its adjoining wings.

“Lagos is a cynosure, Lagos is a centerpiece. I think it would be a shame on us if we are not doing what we are doing today - if people can think 40 or 45 years ago and put this edifice here. The least we are doing is what we are doing

today – to turn it around and make it happen so that people who are coming behind us can be proud of it.”

In his remarks, Dare noted that on completion, the National Theatre would bring about massive job creation for youths, talent discovery and development, revenue generation and innovation and technology hub. With the pandemic still biting hard globally and even in our nation, he said the project was desirable.

“It is the much-needed shot in the arm to vaccinate our youths against the multi-headed challenge of unemployment.

The creative city project is important for the Nigerian youth. I commend the Bankers’ Committee for pioneering the vision and being the first to take a risk and a bet on the youths of this country.

“The Nigerian youth represents a critical component to propel the world towards attaining the Sustainable Development Goals that we are all focused upon. The coast has never been bigger and the urgency of the moment has been more pertinent.

The moment is now for our youths. We must hand over to our youths, a far better future than was handed to us,” he stated.

Common, Globalwitness, and The Corner House based in Europe said Nigeria has regained unprecedented gains under Magu's leadership of EFCC and that his removal under the current circumstances may roll back the momentous gains already recorded under his tenure.

Re: Common’s top official, Mr. Lucas Manes, Corner House’s Nicholas Hildyard and Simon Taylor of Globalwitness in a letter to President Muhammadu Buhari last week expressed deep concern over the travails of Magu, saying that the former EFCC boss may be a pawn in the desperate attempts by corrupt officials to kill the EFCC or turn the agency into a willing tool of corrupt politicians.

The letter was signed by Manes, Hildyard, Taylor and their Nigerian counterpart, Human and Environmental Development Agenda, (HEDA Resource Centre) Chairman, Mr. Olanrewaju Suraju.

“What is going on in Nigeria is of concern to the international community. Mr. Magu has proved himself to be up to the task. His determination to fight corruption is evident by the recovery of stolen funds and properties plus his own high moral ground earned at the cost of diligence and hard work never before seen. His political removal questions the will of Nigeria to deal with a major cause of the country’s underdevelopment which is corruption,” the groups said in a letter delivered to the Nigerian President.

Some of the groups’ most significant contributions to Nigeria’s anti-graft effort are the historic exposure of Nigeria’s top oil companies linked to large scale corruption and their ongoing trial in Italy and other European courts.

The coalition said: “We are therefore greatly alarmed - as are others in the international anti-corruption movement - by reports that Magu has been detained and/or suspended following allegations against him that were reportedly made by Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami directly to you.”

They said the international community is not opposed to Magu being investigated since all allegations of corruption must be thoroughly probed but rather that due process and the proper disciplinary procedures have not been followed.

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37

MONDAY, ͹ͻ˜ ͺ͸ͺ͸ ˾ T H I S D AY

NEWS

UK Denies Nigerian Airline Landing Permit to Evacuate Nigerians FG threatens to review bilateral air agreements Chinedu Eze in Lagos and Adedayo Akinwale in Abuja The planned evacuation of Nigerians stranded in the United Kingdom has suffered a delay as British authorities denied a Nigerian airline, Air Peace, landing permit.

But in a swift reaction, the federal government yesterday said it would review all its existing bilateral air service agreements with other countries including its BASA with the United Kingdom.

The evacuation flight which was earlier scheduled to depart London Heathrow airport today is now billed for Gatwick airport tomorrow.

The spokesman of the Ministry of Foreign Affairs, Mr. Ferdinand Nwonye, who disclosed this in a statement in Abuja yesterday, revealed that a UK airline, Air Partner will now operate the flight.

Following the refusal of the UK to grant diplomatic landing clearance to Air Peace, the federal government said it appealed to Air Peace to engage the services of an alternative airline to airlift the stranded citizens instead of refunding their payments.

Air Peace engaged Air Partner, one of the Global Air Charter companies advised by the British authorities.

“It is pertinent to note that Air Peace gracefully contracted Air Partner to operate these charter flights on its behalf at a much higher cost than the ticket fares paid by the prospective evacuees.

“In the light of the foregoing, the Federal Government wishes to extend its appreciation to the chairman and management of Air Peace Limited for their commitments and patriotism in ensuring that our stranded nationals in the United Kingdom return home safely,” the statement said.

Meanwhile, the federal government has said it will review all its existing bilateral air service agreements with other countries including its BASA with the United Kingdom.

The Minister of Foreign Affairs, Mr. Geoffrey Onyeama, made this known in a statement via his Twitter handle shortly after the announcement that the British authorities refused a Nigerian airline, Air Peace, landing permit to operate a repatriation flight scheduled to depart London Heathrow airport.

In his reaction to the action of the UK authorities, the minister said, “Having been allowed to carry out one very successful evacuation of Nigerians from London at very low fares, @

flyairpeace in coordination with the @NigeriaGov and full knowledge of the UK authorities scheduled two additional flights.

“All the arrangements were made including payments, only for the UK authorities to withdraw landing rights close to departure despite strong representations by the Nigerian Government including pointing out the hardship that would be caused to hundreds of Nigerian evacuees.

“Air Peace could have just refunded the passengers but exceptionally, patriotically and altruistically agreed to find an alternative carrier acceptable to the UK authorities to carry out the evacuation a day later than scheduled but for much higher fares.

“These higher fares could legitimately have been passed on to the evacuees but Air Peace bore this huge cost itself. This is to let the aggrieved evacuees know that the objects of their grievance should neither be Air Peace nor the Nigerian Government.

“They should rather be eternally grateful to Air Peace.

The Nigerian Government will review its Air agreements with various countries as a result of the unacceptable treatment of Nigerian carriers during this

pandemic.”

NCAA Investigates Alleged Violation of International Flights’ Ban by Emirates Meanwhile, the Nigerian Civil Aviation Authority (NCAA) has said it will investigate the alleged violation of the ban on international flight services by Emirates’ Airlines.

The Dubai-based mega carrier has allegedly been operating scheduled flights from Nigeria, claiming the flights were evacuation flights.

The airline is said to be planning to operate scheduled flights on July 14 and 19 tagged evacuations, where it will allegedly airlift Nigerians that wish to travel from the country and connect them to other international destinations from Dubai.

In one of the advertisements by the airline’s ticket sales agent, Tour Brokers, titled, “Fly Emirates Airline from Lagos to Dubai, London, and many more destinations” sighted by THISDAY, the message said: “Fly Emirates Airlines from London on the 19th of July, 2020 to Dubai, London, New York, Toronto, Paris and many more destinations. Contact

us now for your ticket - Limited seats available.”

Evacuation flights are usually organised by the embassies and airlines are contacted to airlift evacuees.

But Emirates was said to have been organising and selling tickets.

THISDAY gathered that in the inbound and outbound flights, it is largely Nigerian citizens that are airlifted from Lagos and Abuja to Dubai and from the United Arab Emirates via Dubai to the two Nigerian major cities.

Another sales agent of Emirates, wakanow.com also advertised for the July 14 flight and had the message, “Travel update! Dear Customer, We are pleased to inform you that Emirates will operate an evacuation flight from Dubai to Abuja on 14th of July, 2020,” the message stated.

A top official of NCAA explained that following the ban on international flights, approvals for flights are secured from only the Ministry of Aviation - through the Minister or anyone so delegated by him.

According to him, it is after the approval is received that the NCAA and the Nigerian Airspace Management Agency (NAMA) will be informed.

The source also noted that according to regulation, it is the

NCAA that should be informed first to review the request and then advise the ministry to give approval or not.

“Maybe the approval came from the ministry. The regulation gives the minister the powers but the ministry should have to liaise with NCAA instead of dealing with the airlines directly. But it is after the approval has been received that NCAA and NAMA are informed,” the source said.

Spokesman of NCAA, Sam Adurogboye, however, told THISDAY that the flights would be investigated, noting that the regulatory authority ought to earn revenue from such flights.

According to him, such revenue is lost now that NCAA is bypassed, if the flight operations are true.

“We will investigate it further to know what is happening.

We will definitely investigate it because if they are doing that it means they are denying us revenue,” Adurogboye said.

However, the spokesman of the Ministry of Aviation, James Odaudu, when contacted by THISDAY, denied that the ministry approved such flights.

“No airline has been given any approval to run scheduled international flights,” Odaudu said.

some governorship aspirants in Ondo State, who protested over the mode of the primary that would be adopted by the party to conduct the July 20 primary. It said aspirants could not impose the mode of primary on the party.

The party in a statement signed by the state Publicity Secretary, Mr. Alex Kalejaye, said: "We wish to place it on record that it is inconceivable that aspirants would dictate to the party on which mode to adopt.

"The chapter is duty-bound to underscore a salient point: that it is the prerogative of the national secretariat to decide which of the modes, spelt out in the party constitution should be adopted for each state at any point in time.

"For the sake of emphasis, the party's constitution approves three modes of primaries to select its candidates for an election: direct, indirect and consensus. Any of these could be chosen at random, depending on the discretion of the supervising authority.

"The supervising authority in this regard is Governor Mai Mala Buni-led Caretaker Committee, and saddled with the responsibility to decide the option for Ondo State 2020.”

He stated that the National Caretaker Committee is making progress in achieving the unity among the various groups in the party.

This, according to him, is being achieved through physical visitation to national stakeholders and telephone conversations with others.

He said: "We have extended our hands of fellowship to every member of APC and work as a family for the progress and stability of the party. I'm not aware that any dissenting voice has gone to court.

"We have all agreed, as directed by the president, that we should have all our cases withdrawn from the court and then move for full-blown reconciliation.

"Our team had met with [Senator] Ahmed Tinubu and you have all heard what he said. As far as he's concerned, there is no division in the party.

It is democracy, there must be someone or two, who will say he or she doesn't feel happy the way he is treated or the way the party is being managed, which the committee is ready to pacify."

The senator, however, said the committee was facing some challenges over its peace mission but was sure of overcoming them.

"When you are dealing with a challenging issue in the house, you will not say you have overcome them. We are in the process of overcoming those challenges. We are in the process of talking to everybody that we know is very important.

"Secondly, we are not saying that the road ahead is not going to be as easy as we thought.

It is a road that we will work so hard to overcome. All the caucuses are working together to make sure that the party retains or brings back the glory it has lost over time.

"We lost about seven states in the last general election and we will work to get them back and even add more in the spirit of togetherness,” he stated.

APC GOVS, PARTY LEADERS MEET OVER EDO ELECTION TOMORROW the Mr. Adams Oshiomhole-led National Working Committee (NWC) of the party.

However, in a swift reaction, the party said members seeking a solution to their grievances in the courts should embrace the dispute resolution mechanism of the party.

It also slammed some governorship aspirants in Ondo State protesting the mode of primary to be adopted by the party to conduct the July 20 primary, saying that aspirants cannot impose the mode of primary on the party.

The meeting of the APC leaders, according to insiders, is at the instance of President Muhammadu Buhari, who was said to have directed them to ensure that the party wins the September governorship election in Edo State by deploring all their resources in mobilising the electorate for the party’s candidate.

THISDAY gathered last night that Governor Abubakar Atiku Bagudu of Kebbi State who doubles as chairman of APC Governors’ Forum; Governor Kayode Fayemi of Ekiti State, who is also the Chairman of Nigerian Governors Forum and Governor Nasir el-Rufai of Kaduna State, are deeply involved in the strategic meeting.

The meeting, which will also be attended by the party’s National Caretaker Committee members, is coming at a time some of the party’s National Campaign Council for Edo State Election members have relocated to Benin City, the state capital, to help strengthen the campaign structures.

Former member, House of Representatives and ViceChairman, APC National Campaign Council for the September 19 Governorship Elections in Edo State, Hon. Patrick Obahiagbon, told journalists that Ize-Iyamu is unbeatable in the forthcoming elections.

Describing the APC candidate as a ‘’grassroots politician,’’ he said Ize-Iyamu is a man that has shown a single-minded determination to the politics of the state all his life.

He added that this intuitive commitment has won him a lot of committed loyalists all over the state, Nigeria and in the Diaspora.

Another Chieftain Challenges Caretakers' Legitimacy in Court A youth leader of APC in Abia State, Mr. Kalu Agu, has instituted a court action to challenge the powers of the National Executive Council (NEC) of the party to remove the NWC members barely two years out of the constitutionally guaranteed four-year term of office.

In the fresh suit with number: FHC/ABJ/ CS/736/2020, the plaintiff is praying for an order of the Federal High Court, setting aside the dissolution of the NWC

by APC's NEC meeting held at the presidential villa last month.

He is also praying the court for an order restraining the National Caretaker Committee members, led by the Yobe State Governor, Alhaji Mai Mala Buni, from parading themselves as national officers of the APC and from usurping the functions of the party's NWC. He also prayed the court for an order restraining the National Caretaker Committee from putting into effect, the resolution of the APC's NEC meeting passed on June 25, 2020, and for another order against the Independent National Electoral Commission (INEC) from recognising, dealing with or relating with the caretaker committee in whatever guise to usurp the functions of the NWC. Similarly, the plaintiff also prayed for an order of mandatory injunction compelling INEC to continue to recognise the Oshiomhole-led members of the NWC as the authentic national

officers of the party.

In the suit filed on his behalf

by Mr. Ukpai Ukairo, dated July 8, the APC chieftain is also asking the court to strike down Article 17 of the APC's constitution, which provides for the appointment of officers into the organs of the party for being inconsistent with section 223 of the 1999 Constitution and section 85 of the Electoral Act of 2010.

Respondents in the suit include the Independent National Electoral Commission (INEC), APC, Buni, Isiaka Oyebola, Senator Ken Nnamani, Ms. Stella Okorete, Niger State Governor, Alhaji Sani Bello, Dr. James Lalu, Senator Abubakar Yusuf and Mr. Akinyemi Olaide.

In a 44-paragraph affidavit in support of the originating summons, the plaintiff claimed to be one of the foundation members of the Congress for Progressive Change (CPC) under which he contested for the House of Representatives in Arochukwu/ Ohafia Federal Constituency of Abia State in 2011 and that after 2011 general elections the party along with others merged in 2013 to form the present APC. He averred that he is an accredited APC member and that he was elected as the Abia State Youth Leader in April 2014 during the state's congress held at Umuahia, adding that the national officers of the APC were also elected in 2014 in accordance with the party's constitution.

Insisting that the 1999 Constitution guaranteed fouryear tenure for party officials, Agu averred that in breach of the same constitution on June 25, 2020, APC's NEC meeting at the presidential villa, Abuja, passed an illegal and unlawful resolution dissolving the NWC and also setting up an illegal caretaker committee of the NWC. He noted that members of APC's NWC had barely spent two years from their four years in office before they were purportedly dissolved by the

NEC. He, therefore, prayed the court to declare the dissolution of the NWC as unconstitutional, illegal, null and void and another declaration that the recognition accorded the caretaker committee is unconstitutional and illegal.

He also prayed the court to declare that the establishment of the caretaker committee for APC by the NEC on June 25, is unconstitutional, illegal, null and void and of no effect.

No date has been fixed for the hearing of the suit.

But in a swift reaction, the party has told its members seeking a solution to their grievances in the courts to note that the solution lies within the party.

The spokesman of the caretaker committee, Mr. Yekini Nabena, who spoke to THISDAY, however, added that he would not react until the party is served.

He said: "How can you react to the court cases that you have not seen and that the party has not been served? When the party is served we will now know the content of the case. Once we know that, we will now take a look at it. But at this point, we don't want any court cases because we want to resolve everything.”

Asked if the party is worried, he added, "The party has not been served; so, I cannot tell you about worried or not being worried. Anybody going to court is because they want a solution - the same thing that we are telling them that that solution can be handled in the party. It is all about give and take; it is a win-win situation.

First of all, we need to see the context of the court case."

Aspirants Can't Dictate Mode of Primary to Party, Says APC The party yesterday slammed

APC Intensifies Reconciliatory Efforts Nationwide Meanwhile, the National Caretaker Committee of the party has said the ruling party has commenced reconciliatory visits to aggrieved and critical stakeholders of the party.

A member of the committee, Senator Abubakar Yusuf, who gave an update on the work of the committee since its inauguration last month, also expressed optimism that despite the crisis rocking the party in both Edo and Ondo States, its candidates will win the governorship polls in the two states.

38

MONDAY JULY 13, 2020 ˾ T H I S D AY

NEWSXTRA

Lagos Doctors Begin Strike Today Peter Uzoho Medical doctors employed by the Lagos State Government will today begin a three-day warning strike.

The Chairman of the Medical Guild, Lagos, Dr. Oluwajimi Sodipo, at a briefing yesterday, said the doctors were embarking on the strike following the expiration of the

ultimatum given to the Lagos State Government.

He said: “Following the emergency congress of the Medical Guild held on June 27, we resolved that the previous 21 days’ ultimatum given to the state government be extended by a further two weeks during which representative council meeting should be held to review the resolutions of the

congress and activate the threeday warning strike if 70 per cent of the guild’s demands are not met.”

Sodipo said the demands of the guild include the wage disparity between the federal and Lagos doctors.

“The issues of COVID-19 hazard allowance and inducement allowances MOU approved by the federal government to her doctors have not been approved by the Lagos State Government to her doctors.

“The doctors working in the COVID-19 isolation centres are still being owed two months’ salaries which have remained unpaid at the moment. They are also being unceremoniously disengaged without recourse to their welfare.

“The issue of shortage of doctors in the health facilities is yet to be resolved and with no substantive action taken by the state government t resolve the issue,” Sodipo said.

Nigeria’s COVID-19 Cases Rise By 571 to 32,558 Martins Ifijeh Nigeria has recorded 571 new cases of COVID-19, bringing to 32,558 the number of confirmed cases in the country.

It has also recorded 16 deaths in the last 24 hours, raising the tally from 724 to 740 in a single day.

Announcing this yesterday, the Nigeria Centre for Disease Control (NCDC) said Lagos

recorded 152 new cases; Ebonyi, 108; Edo, 53; Ondo, 46; Federal Capital Territory (FCT), 38; Oyo, 20; Kwara, 19; Plateau, 17; Osun, Bayelsa, Ekiti and Katsina, 14 each; Akwa Ibom, Kaduna and Rivers, 11 each; Niger, 10; Ogun, seven; Kano, six; Cross River, four; and Bauchi, two.

“Nigeria has recorded 32,558 cases of COVID-19. 13,447 patients have been discharged, while 740 persons have died.”

My Approval for Auction of SeizedVessels Legal, Says Malami Alex Enumah in Abuja The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), yesterday disclosed that his last year’s approval to some operators in the oil industry to sell five sea vessels laden with crude oil and diesel forfeited to the federal government was legal.

Malami’s Special Assistant on Media and Public Relations, Dr. Umar Gwandu, was reacting to reports on how the minister was said to have directed Omoh-Jay Nigeria Limited to dispose of the crude oil and diesel in four sea vessels through an open bid.

It was also alleged that Malami had in another approval mandated the firm to sell five vessels despite the fact that the firm and its Managing Director, Mr. Jerome Itepu, were standing trial at the Delta State High Court, Asaba, for allegedly stealing about 12,000 metric tonnes of crude oil loaded in a vessel, MT Akuada a.k.a.

MT Kua. The allegedly stolen crude oil was valued at N384m in 2009.

The auctioneer was to get three per cent of the sale.

However, the minister yesterday justified his approval of the auction, insisting that he committed no infraction by granting the auctioning approval to Omo-Jay

and its officials even if they were being prosecuted for alleged theft of crude oil.

“The issue of interest to the public, of which a serious journalist need to support the general public to know is whether Omoh-Jay being a duly registered company can be denied opportunity to participate in the auction bidding process on a purported account that the company is standing trial (not convicted) by a competent court of the land if indeed as claimed,” that the company was being criminally tried.

“The position of the law is clear by virtue of Section 36 (5) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) that a person is presumed innocent until the contrary is proved.

‘Every person who is charged with a criminal offence shall be presumed to be innocent until proved guilty’.

“Assuming, without conceding that Omo-Jay is being tried for criminal offence, if indeed any, does that take away the Constitutional presumption of innocence in their eligibility to apply and be considered for auction?”

The minister argued that if the allegation is that of breach of process and procedures of disposal of assets, the publication needs to clearly state which processes and procedures were breached.

Ondo APC Expels Lawmaker Opposed to Deputy Gov’s Planned Sack The All Progressives Congress (APC) in Ese Odo Local Government Area of Ondo State has reportedly expelled the lawmaker from the council area, Hon. Success Torukerijoh.

Torukerijoh is a member of the Ondo State House of Assembly representing Ese Odo state Constituency.

He is one of the nine lawmakers opposing the planned sack of the state deputy governor, Mr. Agboola Ajayi.

He was said to have been expelled for involving in anti-party activities.

The action was taken yesterday during the meeting of the leaders of the party in the local government.

MARITIME SAFETY ON THEIR MINDS...

L-R: Director General of Nigerian Maritime Administration and Safety Agency, Dr. Bashir Jamoh (left), receiving a plaque from the Executive Secretary of Nigerian Shipper’s Council, Mr. Hassan Bello, during the maiden meeting of heads of government parastatals in the maritime sector in Lagos...weekend

Falana Denies Receiving N28m from Magu Human rights lawyer and Senior Advocate of Nigeria (SAN), Mr. Femi Falana , has denied receiving N28million from the suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, who is being investigated for corruption allegations by a special presidential panel.

Falana, in a pre-action letter signed by his lawyer, Adeyinka Olumide-Fusika (SAN), demanded a retraction of the claim by a newspaper which published the online

story.

The newspaper’s story was based on a report published by the federal government-owned news medium, which claimed to have obtained the final report of a prior presidential panel allegedly indicting Magu for being unable to account for the interest generated from N550billion cash recovered from 2015 to 2020.

According to the report, the said presidential panel’s report exposed acts of corruption and money laundering against some EFCC officials, including

Magu.

Falana’s lawyer in his letter demanded the retraction of the publication within 48 hours, insisting that the story was “damning against my client because his entire career as a lawyer has been devoted to fighting human rights abuses and corruption in high and low place”.

Olumide-Fusika stated, “In the circumstance, my immediate instruction is to demand that you acknowledge your wrongdoing, expressly admit that what you imputed

against my client was false, and apologise for your unprofessionalism and the damage you have caused to him.

“I do hope that you will, within the next 48 hours, comply with this gentlemanly request by publication on the front page of your newspaper.

Failing compliance, my instruction is to issue a rit in the tort of defamation in other to afford you an opportunity to prove what you imputed against his my client’s character.”

Tinubu Mourns Lagos Lawmaker, Braimoh The National Leader of All Progressives Congress (APC), Senator Bola Tinubu, has commiserated with the Speaker of the Lagos State House of Assembly, Hon. Mudashiru Obasa, over the death of the member representing Kosofe Constituency II, Hon. Tunde Braimoh.

The late lawmaker was

the Chairman of the House Committee on Information, Strategy and Security of the House.

He died in the early hours of Friday after a brief illness and his remains were buried same day in accordance with Muslim rites.

In a condolence letter to Obasa, his Media Office, Tinubu said he was shocked

and distressed by the news of Braimoh’s death.

“Indeed, it was one piece of news that rendered me and certainly all those who knew him and what he stood for, momentarily numb and speechless. This is one death too many in such a short space of time. As mortals, we can only submit to the sovereignty of Almighty

Allah,” he said.

The former Lagos State governor described the late lawmaker as not just a political ally, but a dyedin-the-wool progressive, who devoted his talents, resources, and life to the service and wellbeing of not only the people of Kosofe but also the citizens and residents of Lagos State.

Presidency: Why 2020 Budget was Increased Despite Drop in Revenue The Senior Special Assistant to the President on National Assembly Matters (House of Representatives), Hon. Umar El-Yakub, has said the decision of the Presidency to increase the 2020 budget despite drop in revenue was meant to mitigate the impact of the COVID-19 pandemic on the nation’s economy.

President Muhammadu Buhari hadonFridaysignedtheAppropriation (RepealandAmendment)Act,2020into law.

The revised budget provides for aggregate expenditure of N10.81trn, which is an increase of N216bn over the level of expenditure initially

proposed in the 2020 Appropriation Act. El-Yakub, in an interview with State House correspondents, attributed the increase to the government’s decision to prioritise infrastructure projects that would reflate the economy.

He said, “One needs to understand that the essence of the review is to prioritise government projects that will address infrastructure and ginger the economy more as well as address health issues.

“Because of the pandemic, investments are made in those regards and certainly you know that there are palliatives that had been initiated

by the Federal Government in the phases of implementation.

“All those necessitated this new look at the budget so as to free certain amounts of money hitherto appropriated for certain projects which in the circumstances are not as expedient to prioritise.

“We looked at other infrastructure that need prioritisation so as to address the pandemic and the difficulties that it has brought to the lives of Nigerians.”

El-Yakub lauded the cordial relationship currently existing between the executive and legislative arms of government, saying it is a relationship that is based on

mutual understanding, respect and partnership in nation-building.

The presidential aide said the National Assembly needed the executive arm of government because it is the arm that implements laws that have been passed by the National Assembly.

He said the revised 2020 budget was one of the bills the National Assembly looked at expeditiously because it is an amendment that was necessitated by the circumstances of the moment which also caused a serious strain on the economy.

39

MONDAY JULY 13, 2020 ˾ T H I S D AY

NEWSEXTRA

PDP Accuses APC of Corruption, Inflicting Poverty on Nigerians You are founder of corruption in Nigeria, APC replies opposition party Chuks Okocha and Adedayo Akinwale in Abuja The Peoples Democratic Party (PDP) yesterday claimed that the unbridled treasury looting and extortion by the cabal in the Presidency and the All Progressives Congress (APC) are directly responsible for the excruciating poverty and escalated insecurity being suffered by Nigerians in the last five years.

But in a swift response, the APC has described the PDP as the founder of corruption in Nigeria, to the extent that evil practices were made official way of life during the opposition party’s “16 wasteful years”.

The PDP further said that the grandstanding by the Presidency in response to revelations of abuses and sleazes emanating from the investigation of the suspended acting Chairman of the APCcontrolled Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, has exposed a desperate attempt by a cabal to delink certain of its officials from indictment in the saga.

According to a statement by the National Publicity Secretary of PDP, Mr. Kola Ologbondiyan, the recent revelations of widespread treasury looting, including the alleged allocation of billions

of stolen money to certain top government officials, have also exposed the hypocrisy of the APC and how its leaders are mercilessly plundering the economy while abandoning the citizens to a life of squalor.

“The picture is becoming clearer on how APC leaders, in the last five years, siphoned and pocketed over N14 trillion, from various government agencies, meant for the development of the nation and the welfare of Nigerians.

“From unfolding events, Nigerians are no longer in doubt that treasury looting is the official manifesto of the APC, which has now been exposed as a deceitful party that came to power by pretenses and pointing of accusing fingers at others while its real intention had always been to sweep the treasuries for their selfish gains”, the party alleged.

According to the PDP, this explains why the APC administration has failed to expose those involved in the wholesale stealing of N9.6 trillion ($25 billion) oil money as detailed in the leaked NNPC memo just as no steps have been taken by the APC government to investigate and recover the money.

The PDP spokesperson said that it equally explains why the APC administration had also failed to

expose those behind the reported stealing of N1.1 trillion worth of crude oil, using 18 unregistered vessels linked to some of its leaders and why the money was never recovered.

“This is in addition to the mindless looting in revenue related agencies including the Federal Inland Revenue Services (FIRS), the National Health Insurance Scheme (NHIS), National Emergency Management Agency (NEMA) and the Niger Delta Development Commission (NDDC) among other agencies, which have been turned into ATM machines for APC leaders while Nigerians suffer neglect.

“The latest revelation of massive looting in NDDC, as detailed by its former Managing Director, Ms Joy Nunieh, as well as the silence of the Presidency on the issues

raised, give further insight into how resources meant for the development of our nation are being pillaged under the APC,” the main opposition political party stated.

More distressing, it claimed are allegations that APC leaders are also looting part of the huge borrowings by the Buhari’s administration as well as diverting social intervention funds, such as the N500 billion Social Investment Programme fraud revealed by the First Lady, Mrs. Aisha Buhari.

This, PDP said, is in addition to alleged stealing of repatriated funds and proceeds of huge multiple taxes imposed by the APC administration It stressed that this massive looting by the APC is responsible for the collapse of infrastructure in all sectors; a frightening 23.1

percent unemployment rate, escalated insecurity, high costs of essential goods, increased morbidity rate, reduced life expectancy and a despondent citizenry.

However, in a swift response, the APC has said that the PDP was the founder of corruption in Nigeria, to the extent that evil practices were made official way of life during its “16 wasteful years”.

The Deputy National Publicity of the party, Mr. Yekini Nabena, stated this in a statement issued yesterday in Abuja, while assuring all Nigerians that the administration of President Muhammadu Buhari would not condone any form of corrupt practices.

He insisted that the administration was committed to fighting corruption as promised.

Nabena said, “The former ruling

party, PDP does not have what it takes to lament about its alleged corruption practices in the present administration of APC. It is on records that the PDP is the founder of corruption in Nigeria, to the extent that the evil practices were made official way of life during its 16 wasteful years.

“In APC’s government nobody is above the law. The fact that the suspended acting chairman of the EFCC, Mr. Ibrahim Magu is being investigated should send a signal to all those who think and have blackmailed the government’s anti-corruption battle. The Presidency has assured that there is no hiding place for any corrupt government official in this administration being led by an incorruptible personality, in person of President Muhammadu Buhari.”

Wike Didn’t Disparage Uzodimma, Says Rivers Govt The Rivers State Government has distanced Governor Nyesom Wike from comments against his Imo State counterpart, Senator Hope Uzodimma, on the forthcoming governorship election in Edo State.

The state Commissioner for Information and Communications, Mr. Paulinus Nsirim, at the weekend, said a viral statement titled, “Wike’s reply to Uzodimma,” was concocted.

He said: “The attention of the Rivers State Government has been drawn to the news circulating in the Social Media that Governor Nyesom Wike of Rivers State denigrated his Imo State counterpart, Governor Hope Uzodimma.

“The purveyors of the deliberate falsehood alleged that Governor Wike replied Governor Uzodinma over a recent statement where he allegedly boasted that ‘the All Progressives Congress (APC) will teach the Peoples Democratic Party (PDP) and Governor Wike how to conduct a transparent election in the forthcoming Edo State gubernatorial election.’

“The concocted story only existed in the imagination of the authors and so there was also no disparaging comment by Wike.

“Members of the public are hereby advised to discountenance all the information contained in the said publication as they did not emanate from Wike.”

COMPARING NOTES ON EMERGENCY MANAGEMENT...

Director General, National Emergency Management Agency (NEMA), Mr. Muhammadu Muhammed (left), and the Edo State Governor, Mr. Godwin Obaseki, during a courtesy visit by NEMA officials to the Government House, Benin City...weekend

Air Peace to Evacuate 300 Nigerians from Asian Countries Chinedu Eze Air Peace has dispatched two Boeing B777 aircraft, 5N-BWI and 5N-BE, at the weekend to airlift Indians, Malaysians and Singaporeans from Nigeria and also returned to the country with over 300 Nigerians citizens from different countries in Asia.

Senior pastor of Household of God Church, Reverend Christopher Okotie has kicked against the approach of US billionaire, Bill Gates, towards the issue of COVID-19 pandemic.

In an 80 – minute video released yesterday on YouTube, the pastor accused Gates of leading a global conspiracy to destabilise the world economy.

The pastor claimed that the COVID – 19 was a bizarre project conceived by some powerful elements, supported by key leaders of governments around the world to achieve sinister objectives.

Okotie listed these objectives to include a systematic reduction of the world population through the increasing COVID– 19 deaths; enforcement of a global lockdown

to ruin the economies of nations and impoverish the people and frustrate true worship of God. He quoted diverse scriptures to support his allegation.

Okotie deployed his famous teaching grace to explain how the roles of various key Bible characters like the Lord Jesus Christ, Adam, Eve, Solomon, David, Daniel and an event like Sodom and Gomorrah percolate down to the operations of Satanic forces in this age.

The Pastor alleged that the vaccine being developed to check the spread of COVID – 19 is a red herring meant to disguise the real sinister intentions of the purported antidotes for the pandemic, which he said, could ultimately cause death on a mass scale.

stranded Nigerians from Malaysia, Thailand and Indonesia in one flight, while the second flight brought in some stranded Nigerians in India and over 200 Indians working in Nigeria.

The airline also explained that the stranded Nigerians from Malaysia and Thailand, who had lost hope of being evacuated,

commended Air Peace for coming to their rescue at an affordable fare, noting that no airline in the world outside the one owned by Nigerians would have airlifted them at that fare.

The excited passengers were full of praises for the airline and the federal government for their support.

FG Directs Contractors Handling Power Projects Back to Site Emmanuel Addeh in Abuja

Okotie Faults Bill Gates on Approach to Pandemic

Among the evacuees airlifted from Nigeria included about 250 Indians in one of the many evacuations done by the Nigerian carrier to the world second most populated country.

Air Peace said both flights returned safely to Abuja and Lagos respectively last Saturday night, evacuating over 300

The federal government has asked all contractors handling projects in the ministry of power to return to their sites as the COVID-19 lockdown eases nationwide.

Giving the directive at the weekend, the Minister of Power, Mr. Sale Mamman, lamented that though one of the most affected

sectors during the restriction of movement was that of power, the ministry was nevertheless forging on with all the ongoing projects.

Mamman spoke during an inspection tour to the new Gagarawa 2x60 MVA 132/33 KV substation being constructed by the Transmission Company of Nigeria (TCN) in Jigawa State.

The federal government had

awarded the project for the construction of the 2x60MVA, 132/33kV substation at Gagarawa in 2012, with the initial completion period of the project set at 24 months at the cost of $4,071,959.14.

The project, which has been energised, was designed with two 60MVA, 132/33KV power transformers of about

96 megawatts capacity and six outgoing 33KV feeders and is already over 90 per cent completed.

On the impact of the coronavirus pandemic on the power sector, the minister stated that in the sector, the entire value chain had been affected, with all of them directly or indirectly counting losses.

SERAP Asks Court to Compel Govs to Fund Healthcare with SecurityVotes Udora Orizu in Abuja Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit seeking an order to direct and compel 36 state governors in Nigeria to use public funds budgeted for the payment of former governors as security votes and life pensions to fund healthcare facilities, and to address the impact

of COVID-19 on millions of Nigerians.

In suit number FHC/ABJ/ CS/757/2020 filed at the Federal High Court in Abuja last Friday, SERAP is also asking the court to order the governors to publish details of spending on COVID-19 in their respective states.

The suit followed SERAP’s Freedom of Information (FoI) requests dated April 25, 2020,

expressing concern that: “Many state governors are spending scarce state resources to pay themselves security votes and their predecessors life pensions rather than using the public funds to effectively respond to COVID-19 by investing in and improving public healthcare facilities in their states.”

The organisation revealed

that only two state Governors, Nasir El-Rufai (Kaduna) and Abdulrahman Abdulrazaq (Kwara), responded to its FoI requests.

SERAP said Governor ElRufai claimed that the FoI is inapplicable in Kaduna State, while Governor Abdulrazaq stated that the information requested by SERAP is protected from disclosure by the FoI.

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15 Aides of Kwara Dep Gov Test Positive for COVID-19 Hammed Shittu in Ilorin No fewer than 15 aides of the Kwara State Deputy Governor, Mr. Kayode Alabi, have tested positive for COVID-19 pandemic.

The fate of the affected aides, according to THISDAY checks, was based on the outcome of results of their samples at Sobi Specialist Hospital in Ilorin.

In a statement issued in Ilorin yesterday by the deputy governor’s Chief Press Secretary, Mrs. Modupe Joel, however, said the deputy governor had called on the people of the state to always adhere strictly to COVID-19 safety

protocols.

Deputy Governor Alabi warned that the virus is real and presents danger that requires serious caution.

He explained that the state government is determined to flatten the curve of coronavirus and curb community transmission.

Alabi said his COVID-19 positive aides have been admitted to infectious centre in Sobi Specialist Hospital, Ilorin.

The deputy governor called on Kwarans to take responsibility in the fight against the disease.

He said the only antidote against COVID-19 is to obey

all the government and health officials’ precautionary measures such as wearing of nose masks,

avoidance of large gathering, and adherence to physical distancing, washing of hands with soap and

running water or sanitizer among others.

Alabi also advised all Ministries,

Departments and Agencies (MDAs) to emulate his action by testing the staff.

Military Kills Scores of Bandits in Zamfara Forest Kingsley Nwezeh in Abuja Military air strikes have killed scores of bandits in Kwiambana forest in Zamfara State and destroyed structure covering the bandits in the dense vegetation.

The air bombing was executed on July 10, 2020, after Human Intelligence (HUMINT) reports and series of Intelligence, Surveillance and Reconnaissance (ISR) missions established that a group of structures hidden under the dense forest vegetation served as hideouts for suspected Islamic State of West Africa Province (ISWAP) elements and fighters under the notorious bandit kingpin, Dogo Gede.

“The air component, therefore, dispatched a force package of Nigerian Air Force (NAF) fighter jets and helicopter gunships to attack the location.

“The attack aircraft took turns in engaging the target causing damage to some structures in the camp and neutralising scores of the criminals,” a military update said.

It said several bandits, who

were seen attempting to flee on foot and on about 15 motorcycles, were mopped up in follow-up attacks by the helicopters.

HUMINT sources later revealed that several of the bandits were neutralised and their motorcycles destroyed by the air strikes.

The update issued by the Coordinator of the Directorate of Defence Media Operations (DDMO), Major General John Enenche, said the Chief of the Air Staff (CAS), Air Marshal Sadique Abubakar, commended the member of the air component of the Operation Hadarin Daji for their professionalism, and urged them to remain resolute in the conduct of air strikes while continuing to provide close air support for ongoing ground operations in order to eradicate all bandits.

According to him, “The Armed Forces of Nigeria sincerely appreciates the continued support and cooperation of all well-meaning Nigerians, as we keep up the tempo of our operations to defeat all enemies of our great country.”

PDP Constitutes Appeal Committee on Ondo Governorship Election Chuks Okocha in Abuja Amid complaints from some of the party’s governorship aspirants in the election of a three-man ad-hoc ward delegates in Ondo State, the National Working Committee (NWC) of the Peoples Democratic Party (PDP) has appointed former Gombe State Governor, Ibrahim Dankwambo, as chairman of the state governorship appeal committee.

In a statement issued by the National Organising Secretary

of the committee, Col. Austin Akobundu (rtd), the committee is mandated to consider appeals arising from the conduct of the ward congresses for the upcoming 2020 governorship election in the state.

Other members of the committee are Victor Kwon (secretary) and Rita Orji.

The appeal committee is scheduled to sit on July 13, 2020, at the party secretariat in Akure, the state capital.

WORLD POPULATION DAY...

L-R: Director General, National Population Commission (NPC), Dr. Ghaji Bello; Acting Chairman, NPC, Dr. Eyitayo Oyetunji; and Federal Commissioner, NPC, Plateau State, Mrs. Cecilia Dapoet, during a press conference to commemorate the 2020 World Population Day in Abuja ... weekend ENOCK REUBEN

Court Orders Retired Army Officer to Commence Contempt Proceedings against Defence Minister, Perm Sec Davidson Iriekpen The National Industrial Court (NIC) in Abuja has granted leave to one of the 38 senior officers compulsorily retired by the Nigerian Army in 2016, Lt. Col. Abdulfatai Mohammed, to commence contempt proceedings against the Minister of Defence, Major-General Bashir Magashi (rtd) and the Permanent Secretary, Minister of Defence, Mrs. Nuraitu Batagarawa.

The court presided over by Justice HB Haastrup, held that since Magashi and Batagarawa are the Chairman and Secretary of the Army Council respectively, they should be held liable for their refusal to obey the judgment of the court in suit NICN/ABJ/284/2016.

The court had in January declared that the premature retirement of Mohammed from the Army was null and void and ordered the Nigerian Army to reinstate the officer with immediate effect.

The judge ordered that the colonel should be paid all his entitlements from when he was retired and all his rights and privileges accordingly.

But the orders were not been complied with.

Six months after the Chief of Army Staff, Lt. Gen. Tukur Buratai refused to obey the order or appeal the case, Mohammed approached the court for the enforcement of the order.

Consequent upon this, he filed a suit at the court to compel the Army Council to enforce the

judgment.

But the Army Council headed by the Minister of Defence and Permanent Secretary, Ministry of Defence in their capacities as the Chairman and Secretary of the Army Council, filed an objection, arguing that they were not parties in the original suit and did not need to be compelled to enforce the judgment they were not parties to.

But the Justice Rakiya Haastrup, in her judgment, disagreed.

She held that even though the Minister of Defence and Permanent Secretary of the Ministry of Defence were not parties to the original suit NICN/ ABJ/284/2016, since they are the Chairman and Secretary of the Army Council by virtue

of section 9(2a) of the Armed Forces Act 2004, they are proper parties to commence a contempt proceeding against.

“It is my view that the Chairman who by virtue of section 9(2a) of the Armed Forces Act 2004 is the Minister of Defence and Permanent Secretary of the Ministry of Defence even though not parties to suit NICN/ABJ/284/2016 are proper parties in this instant and I so hold “For all that have been said above, this court determines this application as follows: Leave is hereby granted to applicant to commence a contempt proceeding against the Chairman and Secretary of the Nigerian Army Council.”

NGO Suspends Staff over Alleged Rape of 10- year-old Girl Michael Olugbode in Maiduguri An international non-governmental organisation (INGO), Street Child, has suspended a member of its staff accused of allegedly raping a 10-year-old minor in Maiduguri, Borno State.

A statement by Street Child’s Head of Mission in Nigeria, Marcello Viola, yesterday said: “We are aware that one of our national staff members has been accused of rape. The allegation, occurring outside work, is currently being investigated by the police. We

have immediately suspended the staff member in line with our organisational protocols, pending the outcome of the police investigation.

“Street Child fully supports this objective inquiry and will render any assistance requested.

“We are closely following the situation and ready to act to ensure that the proper and appropriate steps are taken. Our concern is now for the survivor. While ensuring their privacy and safety, it is important that the survivor is properly cared for and receives

the support they need.”

The statement added: “Street Child totally condemns abuse and exploitation in any form and is committed to providing protection and support to anyone coming into contact with our organisation.

“Street Child has zero tolerance for any violation of humanitarian and safeguarding principles, particularly related to the prevention of sexual abuse and exploitation.”

An online news outlet had recently reported the arrest by police of a staff of

Street Child Nigeria for allegedly raping a 10-year-old minor in Maiduguri.

The accused person, Bala Halidu, works with Street Child Nigeria as Livelihood Officer in Borno State.

He was reported to have been arrested by men of GRA Divisional Police Station at his residents in Mashirimami area of Maiduguri last Wednesday.

The mother of the victim was reported to have confirmed the incident, noting that the accused person was her neighbour.

I’m Not Disqualified from APC Primary, Akeredolu Tells Supporters Anambra 2021: Zoning Unpopular among Electorate, Say Opinion Polls James Sowole in Akure

Ondo State Governor, Rotimi Akeredolu yesterday asked his supporters to disregard the widely circulated rumours that he has been disqualified by the All Progressives Congress (APC) Primary Election Screening Committee.

The committee has reportedly disqualified one of the 12 aspirants jostling for the ticket of the party for the October 10 gubernatorial election in the state.

However, the committee has

yet to disclose the name of the disqualified aspirants.

Akeredolu in a statement signed by his Senior Special Assistant on Media and Publicity, Ojo Oyewamide, said the news that he has been disqualified was untrue.

He noted that he has not been disqualified from participating at the party primary scheduled for July 20.

The governor described the news as another distraction unleashed with the aim of deceiving the unsuspecting public

As the issue of zoning gradually creeps into the political discourse in Anambra State ahead of its governorship election next year, a research recently conducted

by Media Awareness and Development Advocacy Forum (MADAF) has shows that zoning is now very unpopular among the electorate in the state, as it is inconsequential to them too.

The findings came at a time some political actors, mostly the elites, are pushing an argument that the next governor of the state should be zoned to Anambra

South.

However, a research carried out in the three senatorial districts of the state, which covers all the local government areas in the state, revealed that the issue of zoning in state is “irrelevant and unpopular” among the electorate. ‘’The zoning narrative in Anambra State is an elitist agenda aimed mainly at power grabing.

“Majority of the citizens and the electorate are looking up to credible candidates in the governorship election with capacity to deliver on good

governance; address the issues of insecurity and unemployment among the youth; huge poverty, growing deficit of infrastructure and other socio-political and economic challenges in the state,” the report stated.

The research also stated that the citizens’ swelling disenchantment with the present state government over “its failure or refusal to deliver on his campaign promises,” became very pronounced during the research, indicating that any candidate the government supports in the next election will

be very unpopular among the voters.

The report added: “There are many political stakeholders in the state, who hold the view that zoning system has outlived its usefulness in the state governorship seat, because each zone has at different times produced governors in the state.

“The argument of these people is that what matters in the next governorship election is the credibility of the candidatesomebody who can deliver on good governance.’’

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Appeal Court President Seeks Support for Girl-child Education HoSF calls for mental attention for rapists

Alex Enumah in Abuja The President of the Court of Appeal, Justice Monica DongbanMensem has called on Nigerians to support the education of the girl-child to ensure even development in the country.

Justice Dongban-Mensem was speaking while playing host to a delegation of the Ahmadu Bello University (ABU) Zaria, Kaduna

State and Head of Service of the Federation (HoSF), Dr. Folashade Yemi-Esan.

While receiving theABU delegation ledbyProfessorKabirBala,theCourt of Appeal President noted that Nigeria is blessed with leaders with great foresight who saw the importance of education as a tool for development.

She said, “Our founding fathers were truly leaders, who had the interest of generations they would

not even see in their hearts. They planned ahead; I felt the same way when I went to Ife. Nigeria is a great nation and education is the citadel of everything; it is the foundation of everything. My late father used to say that education will solve every problem in the world and I think there is wisdom in that”.

While stressing her indebtedness to the ABU for making her what she is today, she urged that people

should not be indifferent to what is happening in schools today.

“When I went to visit two years ago, the Dean of the Law Faculty ensured that I pay all my dues and even do more. Henceforth, I will ensure that I participate in all activities and if there is any other thing I can do, get in touch with us.

“The CJN (Chief Justice of Nigeria) is also a product of ABU; so, we have every cause to stand

tall, even the SGF (Secretary to the Government of the Federation) is also a product of ABU. I think we can confidently say that this is the time for ABU to move forward quickly”.

While playing host to the HoSF, Justice Dongban-Mensem remarked that with conscious and concerted efforts in the education of the girl-child, the sky would be the limit for any woman who dares to dream or aspire.

She noted that a lot of women, including the HoSF and herself had proven what women can do if given opportunity.

While thanking Yemi-Esan for the visit as it afforded her the opportunity to draw from her wealth of experience as a public office holder, she stressed the need to rally round fellow women and give them needed support to succeed in their chosen endeavours.

Previous Car Winners Await Season 2 Kick- Glo Customers to Enjoy Six months’ off of Dangote’s Promo Bundled Data in Smartphone Festival Previous winners of star prizes in the Bag of Goodies (BOG) national consumer promo Season 1 organised

by Dangote Cement Plc in 2019 have expressed huge excitement over the approaching Season 2 version, which is billed to take off nationwide later this month.

The star winners, among the 40 lucky individuals across Nigeria who were each presented with a brand new saloon car for their wins in the Season 1 promo, also commended the cement manufacturing giant and its Chairman, Aliko Dangote for transforming their lives through prizes won in a promo unveiled to improve the lives of 21 million citizens.

Some of the enthusiastic winners, who were contacted by telephone, recalled how their prizes in the past promo enhanced their good fortunes.

They hailed the sincerity of Dangote in handing over the cars to them, and urged Nigerians to participate in the Season 2 promo.

They described the 2019 consumer promo as credible, real and a life-changing experience, and expressed willingness to actively participate in the new Bog of Goodies 2020 Season 2 promo.

The first star (car) prize winner in Season 1 promo, Abraka, Delta State-based cement retailer, Benjamin Igherighe in a phone interview endorsed the BOG2 promo, saying

it is real and credible.

The cement dealer urged the public to take advantage of the promo to buy cement for their building projects and at the same time stand a chance of winning life-changing prizes from Dangote Cement.

Benjamin said the car has changed his life and business.

“People stop me on the road to make inquiries about cement supply and then place orders. It has become a marketing tool which attracts attention and increased sales for me. The branded car has made me an ambassador of Dangote Cement and I keep telling people that the company stands for quality, durability and trust”, he added.

In its bid to offer more value to customers and consolidate its leadership in Nigeria’s telecommunications market, digital transformation leader, Globacom, has announced a phone festival for the benefit of its teeming subscribers.

Called the Glo Smartphone Festival, it is designed to offer subscribers who purchase mobile phones from any Gloworld outlet up to six months’ bundled data along with their preferred devices.

Globacom said in a statement released in Lagos over the weekend that customers who purchase devices under the programme will have access to bundled data from 500 MB per

month to 2GB per month for six months. This will, however, depend on which model they choose from a wide range of phones from popular brands available for the offer, including iPhone, Samsung, Infinix, Itel, Tecno and Imose.

The company explained that the Glo Smartphone Festival was designed to make the Gloworld outlets nationwide a “one-stop shop for everything devices” and the best place to get the best price deals, accessories, bundle data ranging from 500MB to 2GB monthly for 6 months and free accessories on their choice devices.

The company further said

that all prepaid and post-paid customers who visit any of the over 90 Gloworld outlets across the country during the festival period can buy any device of their choice from a range of latest devices and enjoy the bundled benefits. “Glo remains committed to creating more value for its customers,” the network added.

Globacom disclosed that data received from the smartphone festival is automatically credited to a customer’s line and added to his or her existing data plans which can be checked by dialling *127*0#, or by sending SMS ‘info’ to 127.

Glo Smartphone festival will run until July 31, 2020.

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NASU Urges FG to Reverse Hike in Fuel Price Onyebuchi Ezigbo in Abuja The Non-Academic Staff Union of Educational and Associated Institutions (NASU) has protested the increase in the local pump price of petrol from N123 to N143.80 per litre.

The union also asked the federal government to reverse the measure in view of the current economic hardship imposed by the spread of COVID-19 pandemic disease.

The NASU stated that the increase in the pump price of petrol workers directly through

SAN, S’Africa’s Ex-Supreme Court Judge Unveil New Book Peter Uzoho The Chairman of the International Integrated Reporting Council (IIRC) and former Judge of South Africa’s Supreme Court, Prof. Mervyn King; and a Senior Advocate of Nigeria (SAN), Prof.

Fabian Ajogwu, are set to launch their new book, “Outcomes Based Governance: A Modern Approach to Corporate Governance”, which seeks to rebuild corporate Africa.

The book with the ISBN: 9781485136880, was written by the co-authors in recognition of the imperative of adherence to corporate governance principles, codes and regulations in their operations and reporting by businesses despite the COVID-19-induced challenges.

The King Code IV of South Africa (by introducing the benefits of good governance from an outcomes-centric approach) and the Nigerian National Code of Corporate Governance (by adopting a principles based approach to corporate governance) provide the ultimate framework for the book.

The spirit of the two Codes inspired by King and Ajogwu to combine their decades of diverse experiences in the field of corporate governance to co-author the book.

“Outcomes Based Governance: A Modern Approach to Corporate Governance,” recently released

by Juta Publishers and available online by them, is set to be

formally presented at a Virtual Book Presentation on July 14, 2020.

The book, with a Foreword from the Group Chief Executive of Standard Bank Group South Africa, Mr. Sim Tshabalala, seeks to demystify outcomes-based governance and emerging corporate governance trends and to aid their adaptability in emerging economies.

It unpacks its applicability by highlighting the benefits of outcomes-based governance and the responsibilities of key players such as the board, company secretary, stakeholder relationship officer, investors, auditors and even government and regulators.

According to the forward, Outcomes-based governance entails considering the positive effects and benefits that an organisation can reap if the underlying principles of good governance are properly applied and fully achieved.

It promotes the idea that there is a need to consider the potential benefits of effectively implementing governance inputs as opposed to isolated actions, details, or procedures; this is what the book considers.

The principles of good corporate governance are not only applicable to large organisations, but also useful for small and mediumsized enterprises (SMEs), which make up most businesses in emerging economies and the world, generally.

Sex-for-grade: NCWD Calls for Timely Passage of Bill Kuni Tyessi in Abuja The Director- General of the National Centre for Women Development (NCWD), Mrs. Mary Ekpere-Eta, has called on the House of Representatives to ensure timely passage of the bill that would make sexual harassment of female students in tertiary institutions a criminal offence.

Ekpere-Eta said the bill would act as a legal frame work for protecting female students from unprofessional lecturers who practice and promote the dehumanising culture of sex-forgrades.

The bill against sexual harassment in tertiary institutions, which was passed by the Senate last Tuesday, prohibited the offense of sexual harassment of students in tertiary institutions and criminalises the act of neglect or failure of administrative heads of tertiary educational institutions to address complaints of sexual harassment within a specified period of time.

Ekpere –Eta, who made the call in a statement made available to THISDAY, said the bill is pivotal and has the capacity to address the different challenges women and girls face in their quest to

acquiring education.

Commending the Senate and the sponsor of the bill, Sen. Ovie Omo- Agege, the director general said that the leadership of the 9th Assembly would provide the platform to urge states that have not domesticated laws that protect women such as the Child’s Right Act (CRA) and the Violence Against Persons Prohibition Act (VAPP) to do so.

She said: “The passage of the bill to criminalise sexual harassment of female students in tertiary institutions in Nigeria by the Senate stands as a poignant moment in the push for women empowerment.

“We fully supported the bill which will act a legal frame work for protecting female students from unprofessional lecturers who practice and promote the dehumanising culture of sex-forgrades.

“I commend the Senate and the sponsor of the bill, the Deputy President of the Senate, Sen. Ovie Omo-Agege for spearheading this pivotal bill. I call on the House of Representatives to pass the bill on time, in order for President Muhammadu Buhari to sign it into law in the nearest future.

the purchase of the product for their vehicles and generators and indirectly through increased cost of public transportation and other essential products.

The latest increase in the pump price of petrol took effect from July 1, 2020.

In a statement issued on yesterday by the General Secretary NASU, Mr. Peters A. Adeyemi, the union said that the increase came to its members, and indeed all workers in the country, as a shock “especially coming at a time when most workers are still struggling and have not yet

found their feet financially after most of them have lost incomes and continue to lose incomes and jobs as a result of the COVID-19 pandemic.

“This increase cannot be justified especially at this time.

We in NASU see it as an extortion of the downtrodden masses of this country in favour of market forces. It is not only unjust but insensitive. The action has added to the hardship of workers and ordinary Nigerians. We therefore call for an immediate reversal by the government.”

The union said that most

workers are months back in the payment of their rents and other loans.

The NASU said that the political ruling class, be they in the ruling party or opposition parties and their class collaborators in public bureaucracy as well as their cronies in the private sector, do not care about the price of petroleum products because they do not buy these products with their hard earned money.

“They are driven in vehicles bought and fueled for them by either the government or their companies. They live in

government and companies’ accommodations; have installed generators that provide constant electricity for their household use.

They would have dubiously and corruptly amassed sufficient resources to meet the needs of their family members to the third generation before they leave office,” NASU said.

The union alleged that pecuniary interests would not allow government officials and their collaborators to ensure that domestic refineries would work efficiently.

PROTECTING FRONTLINE WORKERS...

L-R: President of Medical and Health Workers Union of Nigeria (MHWUN), Mr. Biobelemoye Josiah; National Representative of the Permanent Secretary, Federal Ministry of Health, Mr. Aliyu Mohammed; and Chairman of MHWUN, FCT Council, Mr. Shanabo Abubakar , during the official flag-off of the distribution of Personal Protective Equipment to the state councils by the national head office of MHWUN in Abuja... recently ENOCK REUBEN

Samsung Unveils Maritime Innovations to Modernise Shipbuilding in Nigeria Peter Uzoho Samsung Heavy Industries (SHI) is developing innovative methods to facilitate smart shipping by undertaking thorough research across their multiple research centres in Geoje, Daeduk and Pangyo in Korea.

According to a statement issued by the company, the aim is not only to transform Samsung’s shipyard at Geoje into a smart shipyard, but also transfer the wealth of technological knowhow from Korea to Nigeria, cultivating smart shipping in Nigeria as well.

The statement added that the innovations currently being worked on have the potential to bring about radical changes in the shipping industry, fostering the use of ecofriendly technology, a switch to digitised management and self-reliance on inspection for offshore engineering and more.

During the construction of the Egina, the world’s largest FPSO, Samsung Heavy Industries

Nigeria (SHIN) was already able to apply many innovations from their Korean operations.

This helped shorten the Egina project integration process to seven months, the fastest in Africa amongst comparable projects.

Now, rigorous research is underway at both their onshore and offshore R&D centres across Korea.

The ICT Convergence Centre in Geoje, for instance, is working on integrating an innovative ICT and production technology in up to six different categories.

The company aims to use Cloud, Big Data, and loT, among other advanced tools, to make shipbuilding and operations on the fabrication and integration yards smoother and smarter.

The technologies to be implemented will facilitate more efficient ways of working, lowering the cost of operations, increasing safety, and modernising the shipbuilding industry in Nigeria.

Sustainable method of production, based on digital modes of operations, is the need of the hour as every country makes its move towards energy transition.

Samsung Heavy Industries is planning to bring into existence radical methods of working that include fully functional paperless factories, real-time transfer of manufacturing records, 3D and 4D model visualisation, and mapbased navigation, which allows for an easy-to-use real-time location guide for even unskilled workers in complex offshore plants.

Samsung Heavy Industries has identified Nigeria and the West Africa region as an emerging market with an abundance of opportunity.

“Our investment in West Africa is a long term one, rooted in helping develop local human capacity by leveraging our fabrication and integration yard to the benefit of the entire West African maritime industry,” Managing Director of Samsung

Heavy Industries Nigeria, Mr. Jejin Jeon, said.

The new and modern ways of working will not only empower Nigerian maritime industry but is a promising opportunity for the youth of Nigeria, who will receive hands on training in these necessary tools of smart working that are soon to become the norm in every industry in the near future.

“At Samsung, we believe in having big dreams and visions for the future and following them with passion. Given our present as well the near future is digital, it is high time the shipbuilding industry too started digitising its ways of working. We are looking forward to introducing these innovations to truly transform our ways of working in a complex industry such as shipbuilding.

“Finally, we remain committed to ensuring that our relationship with the Nigerian community remains strong by continuing to train local staff in technical vocational skills,” Jeon added.

Zenith Party Elects Governorship Candidate for Ondo 2020 James Sowole in Akure The Zenith Labour Party (ZLP) at the weekend became the first political party to elect its governorship candidate for the October 10, 2020, election.

The party, at its primary that was held through indirect mode in Akure, elected Mr. Rotimi Benjamin as its flag bearer for the election.

Benjamin, a Master of Business Administration degree holder of

the Lagos State University, Ojo, Lagos, was the party’s candidate for the House of Representatives for Ilaje/Eseodo Federal Constituency in March 2019.

Benjamin, who is the current Vice President of NUPENG, Lagos Zone, polled 65 votes while his opponent, Dr. Olusegun Osho, polled 20 votes.

Not less than 90 delegates, five from each of the 18 Local Government Areas of Ondo State, participated, out of which five

were absent.

The State Chairman of the ZLP, Dr. Joseph Akinlaja, said the party would continue to improve on the laudable achievements of Dr. Olusegun Mimiko, if its candidate is elected into office.

Benjamin, in his acceptance speech, said: “We have a history of being champions of the interest of the masses and have demonstrated in the years that our leader was in office as governor that governance is all about the common man.”

The convention was witnessed by a National leader of the ZLP, Dr. Olusegun Mimiko, who was the immediate past governor of the state.

Mimiko, who commended members of the party for abiding with COVID19 protocols, called on them to commence person to person campaign using the instrumentalities of social media so as to compensate for the limitations imposed by the observance of the COVID-19 prevention directives.

MONDAY JULY 13, 2020 • T H I S D AY

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MONDAY JULY 13, 2020 • T H I S D AY

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MONDAYSPORTS

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

Nigerian Nightmare, Kamaru Usman, Retains UFC 251 Title President Buhari Congratulates the champion

Duro Ikhazuagbe with agency report Auchi Edo State-born welterweight champion, Kamaru Usman, defeated American Jorge Masvidal in a unanimous decision victory in Abu Dhabi early hours of Sunday to retain his UFC 251 title.

The clash against Masvidal in the ‘Fight Island’ in the Emirates lived up to billing as Usman sustained his grappling and wrestling tactics in the early rounds and avoided strikes from the American who was an 11th hour replacement for Brazilian Gilbert Burns. Burns tested positive for Covid-19 six days to the fight and had to be replaced by Masvidal.

The 33-year-old ‘Nigerian Nightmare’ who danced into the octagon with Burna Boy’s song playing in the background with him waving the country’s green white green flag, was scored 5045, 50-45, 49-46 by the three judges after five gruelling rounds without spectators.

The 35-year-old American found a home for his strikes early on as he started the faster of the pair.

He had a clear speed and accuracy advantage in the striking department and he stung the champion with multiple shots during the opening exchanges, while nullifying Usman’s early

takedown attempts.

But Usman exerted constant pressure on the challenger as he denied Masvidal the time and space to throw his strikes. Usman looked to use his clinch work to wear on Masvidal, with much of the second round spent against the cage in a lengthy and gruelling exchange.

The legacy of the round was a nasty cut above Masvidal’s right eye, courtesy of an accidental clash of heads.

A huge slam takedown from Usman was the biggest moment of the third round as the champion continued to smother Masvidal’s striking.

That pattern repeated through the final two rounds as Usman shut down Masvidal, who had earned his shot at the title with a trio of stoppage victories over Darren Till, Ben Askren and Nate Diaz in 2019.

Usman’s victory improved his record to 17-1 and extended his winning streak to 12 fights in the UFC. Speaking after the fight, the Nigerian champion said: “Jorge (Masvidal) is a tough guy and I give him credit for that,� said Usman. “They call him ‘Gamebred’ for a reason - he’s always game to fight. I’m just a level better. I have more tools in the toolbox,� he boasted.

Later yesterday, Usman shrugged off criticism of his performance against Masvidal as UFC fans began branding the welterweight king ‘the most

boring champion’ on social media. “Well maybe they need to get in there (octagon) and fight Jorge Masvidal for 25 minutes and then say something,� he replied. “That’s the thing, there was a time when people started hating Floyd Mayweather because he was so dominant.

Mayweather defence was that he was so good at what he was doing. “Oh, that’s boring, he’s not fighting� because people want to see a bar fight? “We’re risking our lives in there.

And we’ve trained. “What was the point of training each and every day

and then go in there for a slug fest? “You train to be able to make someone miss and control them in a certain way. “That’s what training is for, so you’re not in there taking punishment at will. I do that better than anybody,� concludes Usman.

In the night’s co-main event, Alexander Volkanovski, 31, retained his featherweight title by edging a split-decision verdict after five tight, tense rounds with former champion Max Holloway.

Meanwhile, President Muhammadu Buhari has congratulated Kamaru Usman on the successful defence of his Ultimate

Fighting Championship (UFC) welterweight title with an emphatic win over Jorge Masvidal.

According to NAN, the president’s congratulatory message was conveyed in a statement by his Special Adviser on Media and Publicity, Mr Femi Adesina, in Abuja on Sunday.

Buhari commended the courageous fighter for finishing strong inside the octagon, proudly flying the green and white colours in distant lands.

According to the president, as the first African-born and Nigerian UFC Champion, Usman has reminded the

world that good things and great people still come out of Nigeria.

While the global COVID-19 pandemic may have brought gloom to many families and nations, the President expressed delight and appreciation that Usman has lifted the nation spirits with another professional performance.

He said this had also proven that things would surely get better at the fullness of time “when we remain committed to our vision’’.

The president wished Usman the very best and more victories in his career and prayed that like fine wine, he improves with age.

Napoli Give Osimhen 10-day Ultimatum to Switch Super Eagles’ rave-of-themoment, Victor Osimhen, has been handed a 10-day ultimatum to decide whether he wants the offer from Napoli or not.

The bronze medal winner with Super Eagles at the last 2019 AFCON finals in Egypt has been one of the most sought after striker by big clubs in Europe including Liverpool, Tottenham Hotspur, Real Madrid and FC Barcelona.

However, only the Serie A Napoli have been able to put money on the table, waiting for Osimhen’s signature to switch from Lille to Naples.

Reports by Corriere dello Sport, claimed the Naples outfit

Victor Osimhen...gets deadline from Napoli

want an immediate response from the Nigeria international to avoid a repeat of their failed move for Nicolas Pepe last summer and also have time to find an alternative in the event of Osimhen’s rejection of their bid.

Osimhen has been to the Italian city to meet with the club’s chiefs including Head Coach Gennaro Gattuso after his brilliant debut campaign at Lille where he scored 13 goals in 27 Ligue 1 games.

The 21-year old forward, who was a product of Ultimate Strikers Academy of Lagos, last season had wanted to move to FC Monaco but the inability of the side to be involve in the ongoing UEFA Champions League made the Nigerian for move to Lille from his parent club FC Charlerio of Belguim.

Napoli FC are one foot into the next round of the 2019/20 UEFA Champions League with a return leg fixture against FC Barcelona after 1-1 scoreline in Naples last March.

They are however ways behind in the race for the top four of the Italian topflight .

They are sixth on the log with a game at hand.

It is not yet certain if inability of Napoli to qualify for the Champions League is part of what Osimhen’s representatives are looking at in causing the delay to sign the dotted lines.

Champion Kamaru Usman shortly after he defeated Jorge Masvidal in Abu Dhabi yesterday morning

Rohr Predicts Tough Year ahead for Super Eagles Nigeria’s senior national team’s Head Coach, Gernot Rohr, has predicted that the Super Eagles will have a very difficult season in 2022.

The three-time African champions will be confident of qualifying for both the 2022 World Cup and the next Africa Cup of Nations, which will take place in the same year after being pushed back

on the calendar due to the coronavirus pandemic.

With a strenuous qualifying campaign across two tournaments expected for 2021, Rohr fears that the players will be tired come the following year when the tournaments are played. “The Africa Cup of Nations is postponed. It’s the same for everyone so it’s not a drawback,� Rohr

told Girondins4ever. “We have more time to prepare as well as for other countries. We can continue the play-offs and start the World Cup qualifiers at the same time. “But it will be a difficult 2022 year because already in 2021, there are a lot of qualifying matches to play for the team. “I think we will have time to play a few friendlies. In

the year 2022, if we have qualified for the World Cup and the AFCON, there will be many, many games to play. So it will certainly be a difficult year.�

Rohr ’s new contract with the Nigeria Football Federation (NFF), signed in May and set to run to the end of 2022, includes a mandate to qualify for the next World Cup and win the AFCON.

Egbe Hails Dare on Plans to Reactivate Sports Chief Executive Officer of Monimichelle, Ebi Egbe, has hailed Sports Minister, Sunday Dare, over the plans the Federal Ministry of Youth and Sports Development is putting in place ahead of the return of sporting activities in the country.

Egbe whose outfit has been receiving accolades for the excellent jobs it is doing across the country and other

parts of African continent, noted that Dare has been meticulously planning on how the country can safely return to sports. “I am impressed with the road-map Sunday Dare has drawn up. The ministry has released a Covid-19 protocol on sports. It is good the minister wants sports to return in a safe and scientific way. I m happy

he is putting the health of the athletes first in the whole plan,� observed the stadium facility expert.

Egbe stressed that the minister equally deserves thumbs up for making tireless efforts to ensure that the nation’s sporting facilities get better post Covid-19. “We all know that one area we need to work on

for our sports to get better is that of infrastructure. “With the plans being put in place by Dare, things would soon be looking up for Nigerian sports. The national stadiums in Abuja and Lagos would soon get a new lease of life going by what the minister is doing and he needs the support of every stakeholder to realize his vision,� Egbe concluded.

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MONDAYSPORTS PREMIER LEAGUE

Respite for Mourinho as Alderweireld’s Late Header Sinks Arsenal Toby Alderweireld headed the winner as Tottenham came from behind to beat Arsenal 2-1 and move above their north London rivals in the Premier League.

Alexandre Lacazette opened the scoring from the edge of the area with a superb strike that found the top corner.

But Tottenham forward Son Heung-min pounced

on a mix-up in the Arsenal defence to level immediately.

Alderweireld then rose highest to head Son’s corner beyond Emiliano Martinez with 10 minutes to play.

Pierre-Emerick Aubameyang had earlier struck the bar for Arsenal, who drop to ninth.

Tottenham move up to eighth, two points above the Gunners in the race

Boy, 12, Arrested over Racist Messages Sent to Zaha A 12-year-old boy has been arrested by police investigating racist messages sent to Crystal Palace forward Wilfried Zaha on social media.

Zaha revealed he had received several abusive messages on social media before yesterday’s trip to Aston Villa, a game they lost 2-0.

His manager Roy Hodgson called the abuse “cowardly and despicable�.

The Premier League called the abuse of the 27-year-old Ivory Coast winger “completely unacceptable�.

West Midlands Police tweeted Zaha to say they would look into the abuse and hours later confirmed an arrest. “We were alerted to a series of racist messages sent to a footballer today and after looking into them and conducting checks, we have arrested a boy,� read a WM Police tweet. “The 12-year-old from Solihull has been taken to custody. Thanks to everyone who raised it. Racism won’t be tolerated.�

Speaking to Sky Sports before the arrest, Hodgson added: “It’s been highlighted at the moment anyway with the Black Lives Matter movement and everyone seems to be making such an effort to eradicate this behaviour. “It is very sad that, on the day of a game, a player wakes up to this cowardly and despicable abuse. It’s right Wilf has made

people aware of it and I don’t think this is something you should keep quiet about. “He wants to put off one of our best players from playing well today, but to do it in the way he has chosen is totally inexcusable.�

The Premier League said: “This behaviour is completely unacceptable and the Premier League stands alongside Wilfried Zaha in opposing this, and discrimination in any form. “We will continue to support players, managers, coaches and their family members who receive serious discriminatory online abuse.�

Players in England’s top flight have been kneeling in support of the Black Lives Matter movement before every match since the season restarted in June.

we came back. “We haven’t got the points we need but we’re still in the tournament.�

In an eventful game at Villa Park, Mamadou Sakho thought he had put Palace ahead when the ball appeared to strike the defender’s shoulder on its way into the net - but it was ruled out for handball after a lengthy delay, much to the visitors’ dismay.

Villa then took the lead just before half-time when Egypt winger Trezeguet side-footed the ball into the net at the back post after Palace had failed to clear a free-kick.

Shortly after the break, the hosts were awarded a

penalty by referee Martin Atkinson after Patrick van Aanholt’s challenge on Jack Grealish, but the decision was overturned after another long VAR check.

Villa sealed the points when Trezeguet toe-poked home his second goal and, after the final whistle, Palace forward Christian Benteke, who was playing against his former club, was shown a red card as tempers boiled over.

Palace, who have now lost their past five league games, started with Wilfried Zaha, who revealed before the match he had received racist abuse on social media.

Palace manager Roy Hodgson described the

abuse of the 27-year-old Ivory Coast forward as “cowardly and despicable�.

Jose Mourinho

Toby Alderweireld (right) celebrating his winning goal in the 2-1 defeat of Arsenal...yesterday Wilfred Zara...gets racists warnings

Hamilton Takes Knee in Support of BLM, Wins Styrian Grand Prix Mercedes driver Lewis Hamilton cruised to a comfortable victory in the Styrian Grand Prix yesterday.

The world champion’s first victory of the year was founded on a stupendous performance in wet qualifying, in which he took pole by more than 1.2 seconds.

Hamilton led from pole position, headed only at the pit-stops, as team-mate Valtteri Bottas overtook Red Bull’s Max Verstappen late on for second.

The Ferraris retired early after colliding with each other on lap one.

It was another dark day for the Italian team, after an uncompetitive showing in qualifying, as Charles Leclerc apologised for a rash move on the first lap that took out both cars.

Hamilton led the majority of drivers in taking the knee ahead of the race - and then raised his fist in a black-power salute twice after the race, as he stood on the front of his car with his helmet still on, and again on the podium.

The drivers’ pre-race anti-

for a European spot.

Elsewhere, Aston Villa handled the pressure of a relegation battle and have given themselves a chance of staying up in the topflight by beating Crystal Palace 2-0.

Trezeguet scored twice as struggling Villa secured a first league win since 21 January to move to within four points of safety with three games to go. “We have found it hard this season and there is no getting away from that,� said Manager Dean Smith after his side’s first win in 11 league games. “I know these players can play under pressure.

We have been playing tournament football since

racism protest was not as well co-ordinated as it had been at the same track for the seasonopening Austrian Grand Prix last weekend, but the message was clear.

A handful of drivers were not present for the moment ahead of the playing of the Styrian regional anthem, but all who were wore “end racism� T-shirts other than Hamilton’s, whose said “Black Lives Matter�.

Of those who were there, only Charles Leclerc, Verstappen, Kimi Raikkonen and Daniil Kvyat chose not to kneel.

Hamilton, who has pledged to continue the fight against racism this year in parallel with his quest for a record-equalling seventh world title, was in total control of the race from the start.

He converted his pole position into a lead at the first corner, survived an early safety car period following a collision between the two Ferrari drivers, and never looked back.

The fight was all behind him, as Mercedes sought to get Bottas ahead of Verstappen.

Wolves Boost Push for Europe Ticket with 3-0 Victory over Everton Wolves boosted their chances of claiming a place in next season’s Champions League with a comprehensive home victory over Everton.

Wanderers bounced back from consecutive defeats with a victory through goals either side of half-time and a game-sealing third from Diogo Jota with 15 minutes to go.

Raul Jimenez scored the first from the penalty spot in first-half injury time following a clumsy Lucas Digne foul on Daniel Podence.

Leander Dendoncker headed in the second just a minute after the restart before Jota lashed in from just inside the box to put the game beyond the visitors.

It moves Wolves back up to sixth in the table, three points behind Manchester United in

fifth - a position that could be good enough to earn a place in Europe’s top club competition next season.

Everton committed so much of their efforts to keeping the home side at bay and as a result offered little at the other end of the pitch, with Dominic Calvert-Lewin and Richarlison given scraps to feed off at best.

The closest they came to a goal was a Digne angled drive that flashed past the far post in the second half.

The defeat leaves the Toffees 11th and surely ends their hopes of securing a Europa League spot for 2020-21.

And there was more bad news for manager Carlo Ancelotti, who was already without Mason Holgate and saw fellow centre-back Yerry

Mina limp off in the first half with what appeared to be a thigh injury.

Wolves returned to action in June in fine form, winning their first three games without conceding a goal to increase hope that a late dart for a Champions League place was on.

But early July checked that optimism, courtesy of successive defeats without scoring against Arsenal and Sheffield United opponents who are also in the mix for a place in the top five.

This, then, was a necessary victory, resulting from very timely goals.

Podence had already tested Jordan Pickford twice with low angled drives inside the box before he used his trickery to good effect to turn and draw a mistimed challenge from Digne.

Jimenez was coolness personified from the spot, meaning he has now been involved in 35 Premier League goals this season (goals and assists combined). Only Liverpool’s Mohamed Salah, with the same number, can match him.

Dendoncker’s headed goal was the real killer, coming so early in the second half from Pedro Neto’s well-delivered free-kick.

Jota’s excellent finish simply confirmed what was already known, although Ruben Neves’ superb floated long pass to release him is also worthy of emphasis.

Adama Traore came on for the last 19 minutes and should have added to the scoreline but instead planted an effort against the crossbar after he was found unmarked in the box by Jota.

Leicester Crash, May Drop out of Top Four If United Win Today Bournemouth came from behind to thrash 10-man Leicester City 4-1 and boost their hopes of avoiding relegation from the Premier League.

The defeat means that the Foxes may drop out of the top four race if Manchester United Win at Southampton.

In a calamitous two minutes,

the Foxes threw away a 1-0 lead as Junior Stanislas scored from the spot, Dominic Solanke put the hosts in front and Caglar Soyuncu was sent off.

The Foxes defender kicked Callum Wilson as Bournemouth celebrated their second goal.

Jamie Vardy had put the visitors ahead with his 23rd goal of the season and Leicester

looked in control.

But Kasper Schmeichel blasted a goal kick at teammate Wilfred Ndidi, who then brought Wilson down in the box and Stanislas converted.

Moments later, Solanke fired the hosts in front and Leicester found themselves a man down after Soyuncu’s reaction.

A shot from Stanislas found the net via a big deflection off Jonny Evans and Solanke scored his second to give the Cherries their first win in 10 games.

It keeps Bournemouth three points from safety, after wins for West Ham and Watford on Saturday, while Leicester remain fourth.

Monday July 13, 2020

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UT H

& RE A SO

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Price: N250

MISSILE

NASU to FG

“The recent federal government’s announcement increasing in the pump price of petrol from N123 per litre to N143.80 per litre with effect from 1st July, 2020 came to members of NASU and indeed all workers in the country as a shock, especially coming at a time when most workers are still struggling and have not yet found their feet financially after most of them have lost incomes and continue to lose incomes and jobs as a result of the COVID-19 pandemic” – Non-Academic Staff Union of Educational and Associated Institutions asking the federal government to revert to the old pump price of N123.50 per litre.

ALEXOTTI Slicing the Fat from Our Pot Bellies (I) OUTSIDE THE BOX

alex.otti@thisdaylive.com

“The more leeches there are affixed to a host, the less resources there are to siphon from said hosts, per parasite. The ability to only absorb energy, without the ability or desire to reproduce it in a productive manner, is a dangerous, unsustainable, albeit attractive long term method of collapse and decline.”

– Justin K. McFarlane Beau

F

or some time now, the financially literate ones amongst us have been drawing our attention to the danger that the badly structured nature of our economy portends for the country. One area that has continued to worry analysts most is the fact that we seem to be stuck in a situation where perennially, we dedicate over 70% of our budget to recurrent expenditure while less than 30% gets allocated to capital expenditure. While the argument over expenditure mix rages, the revenue debate has assumed centre stage. Like we had stated in our previous interventions in the past few years, we have only been able to achieve about half of our annual revenue targets of our annual budgets. In situations where the budgets make provisions for deficits like has been the case in the last five years, it simply means that the realisable revenues are less than fifty percent of the targets, in real terms.

Since the total revenue for any specific period is finite, we dare contend that expenditure should be made subject to revenue. As revenue expands, expenditure can be allowed to increase in accordance with Parkinson’s law which states that ‘expenditure will always rise to meet income’. To achieve the required cost containment aspirations, things must be done differently. Some drastic, sometimes even difficult, and painful measures must be taken. Of course, the other option is to allow natural events eventually force the changes.

Both options would work, ultimately, even though the outcomes may be different. While voluntary change will ensure that there is a planned order based on the realities of the situation, the involuntary option will be a solution that arises out of the ashes of a crisis and the natural law of decay and degeneracy.

This option would sure engender even more crises and oftentimes, would be catastrophic.

We believe that it is imperative to explore the voluntary option and have a controlled, predictable, and desired outcome in the face of dwindling resources. This essay shall explore how to realistically manage ourselves in the face of dwindling resources and still come out looking good. We are going to focus on the federal tier of government and expect that the other two tiers - state and local governments - can benefit and learn from the Federal Government. Today, we shall be looking specifically at the Executive and subsequently, we shall beam our searchlight on the Legislature and Judiciary.

It is doubtful if there is any debate about the fact that we have a very wasteful and expensive executive branch of the Federal government.

People have argued that democracy the world over, is a very expensive form of government.

While we do not disagree, we make bold to say that our own brand of democracy is numerous times more expensive than those

Minister of Finance, Zainab Ahmed of the people from whom we copied it.

We shall prove this fact in the course of this piece. Suffice it to say, however, that in the past, various federal government administrations had made reasonable attempts to rationalise government agencies ostensibly to bring down cost of governance.

The Allison Ayida Committee of 1995, was one of the recent attempts to reorganise the executive arm of the federal government. This therefore, shows that this issue of executive profligacy predates the fourth republic. One of the main arguments made by the Ayida report was that Ministers should not act as Chairmen of government owned agencies, which it also recommended should be pruned down. Subsequently, entered the Ahmed Joda Committee of 1999, which, amongst other issues, contended that “ministerial interference and bureaucratic control needed to be eliminated to strengthen public service delivery. This committee had very strong words against the incompetence in government parastatals and boards. It also came down very hard on the sheer size of the boards of parastatals which, according to it, is a complete waste of resources of government.

There is no doubt that some people would be thumping the unemployment card at us on this rationalisation recommendation. The truth is that there is no way a reorganisation of this nature would happen without people losing their jobs

The most recent but more comprehensive effort on the issue of streamlining government agencies and cutting down on cost of governance, is the Oronsaye report. This report recommended the pruning down of statutory agencies of government, from the current number of 263 to 161, that is a reduction of close to 40%. This report, which was submitted to the immediate past President, Goodluck Jonathan, an 800 page document, which took months to prepare, seemed to be gathering dust in a government shelf somewhere, until very recently. The report states that the average cost of governance in Nigeria is amongst the highest in the world.

The Oronsaye report also recommended that professional bodies/councils should be removed from the National budget and most importantly, that the National Budget should be linked to deliverables and performance. In addition, the report exposed the duplication of roles in government. Membership of governing boards, council of government agencies, parastatals and commissions are so many when there is no need for such large numbers, the report further exposed.

Therefore, it is evident that our problem is not lack of ideas or not knowing what to do. On the contrary, we have had more than enough ideas about what to do. We had also made attempts to articulate them in a working document, available to any interested government or official to see. The sad reality is that we stop short after the point of expression of intentions. Many of the reports have not progressed to the stage where white papers are issued on them and even if they were issued, the will to implement them has always been missing. Departing from the norm, the Minister of Finance recently announced government’s preparedness to implement the Oronsaye report as a way of saving money to finance the deficit in the budget. We think this is good news and better late than never. Even then, we are still waiting and we cannot say at this time, how far the government intends to go.

Departing from government agencies, let us now focus on other parts of the executive arm, starting from the Presidency itself. While one may not claim to be an expert in this area, there is no doubt that the Presidency gulps a large chunk of our annual revenue. All sorts of agencies and positions hide under this big monster, ‘The Presidency’. There is a retinue of aides, ranging from Special Advisers to Senior Special Assistants to Special Assistants to both the President, Vice President, and other senior government officials. In the spirit of cutting down on cost of governance, can we not also ask that we cut the Presidency down by about 40%, using the same logic introduced by the Oronsaye report? This could be implemented across board and should include the Presidential fleet, more so, since traveling may not be a very frequent phenomenon any time soon.

Let us now turn to the Cabinet. Presently, we have 43 ministers each with its retinue of aides and special assistants. Even in stable times this is not only unwieldy and inefficient, but very expensive. Do we really need that number or are we simply pandering to what the Americans call ‘pork barrel politics’? Is this not just a very shameless way of finding work and relevance ‘for the boys’? The constitution

recommends that there should be a minister per state. Some of us believe that that part of our constitution should be amended quickly. Is it not possible to cut this number by the same 40%, wind up with no more than 17 ministers and still run these ministries efficiently?

When one compares our numbers with those of the US and other leading democracies across the world, one would notice that we didn’t copy well at all. The US has 15 Secretaries (Ministers) as members of Cabinet and it has 50 States. The United Kingdom has just 21 ministers. Interestingly, in the UK, Cabinet Ministers are also members of Parliament, House Of Lords and House of Commons. 5 more members of Parliament are ‘in attendance’ at cabinet meetings. India, with a population approaching 1.4 billion people, has only 19 ministers in her cabinet and presided over by the Prime Minister. Even though there are several other assistants or deputies, they are not members of Cabinet. Germany also has 15 cabinet ministers and just literally at our backyard, Ghana’s constitution allows for a minimum of 10 cabinet ministers and a maximum of 19. What all these numbers show us is that we can afford to run our federal executive arm of government efficiently with the recommended 17 or even 15 ministers.

Bear in mind that some of the countries we highlighted here are unitary governments while in our case we still have these roles replicated in the 36 states by commissioners.

There is no doubt that some people would be thumping the unemployment card at us on this rationalisation recommendation. The truth is that there is no way a reorganisation of this nature would happen without people losing their jobs. It is also true that government’s role is not to be the biggest employer of labour.

Even with the best of intentions, government does not have the capacity to maintain many people on its payroll. This process is called ‘Creative destruction’ in that it leads to destruction that will engender growth and development in the long run.

Government would subsequently focus on its proper role of creating the enabling environment for a strong and virile private sector driven economy that would create jobs for people. By releasing the funds used to run government and channeling same to building infrastructure in a massive manner, government would be able to reduce cost of doing business and help the private sector create jobs.

We contend that the advent of Covid -19 has made it impossible for us to continue doing things the way we had been in the last few years. It would take a long time for things to return to normalcy, that is if they will ever do. There are opportunities open to us in the emerging post-COVID-19 era.

Evidently, oil has become a more endangered species. Nigeria has borrowed up to her neck given that she now owes close to $80 billion and still counting. We are using 60% of our revenue just to service our debt, leaving us with so precious little to do other things. We are clearly running a huge deficit budget and we are seriously in trouble. Desperate situations require desperate measures. We should throw every possible solution into the pot. Using a street expression, if we do not do something, something will “do” us.

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