TUESDAY 21TH JULY 2020

Fidelity Bank Appoints Onyeali-Ikpe as CEO Designate Okonkwo, retires Dec 31

Nume Ekeghe

The Board of Directors of Fidelity Bank Plc yesterday announced the appointment of Mrs. Nneka Onyeali-Ikpe,

the current Executive Director, Lagos and South-west Directorate, as the Managing Director/Chief Executive Officer (MD/CEO) designate.

It also announced the

impending retirement of the current MD/CEO of the bank, Mr. Nnamdi Okonkwo.

A statement from the bank said Okonkwo would step down from the board of the

bank on December 31 upon completion of his contract tenure, in line with the bank’s governance policies.

It stated that the approval of the Central Bank of Nigeria

(CBN) has been obtained for the appointment.

Also, the board approved the appointment of Mr. Kevin Continued on page 8

FG Approves Launch of N15tn Infraco Plc...

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Onyeali-Ikpe

Tuesday 21 July, 2020 Vol 25. No 9234. Price: N250

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Buhari Mourns, Media, Business Leader, Funtua, Dies at 78

Peter Uzoho

President Muhammadu Buhari has expressed sadness over the death in Abuja yesterday of his associate, business and media mogul, Malam Isa Funtua, saying the deceased stood by him during his tortuous political journey. He died at the age of 78.

“President Muhammadu Buhari received with deep sadness on Monday evening information on the passing

of his long-time friend and associate, Malam Isma’ila Isa Funtua, who was Life Patron of International Press Institute and Newspaper Proprietors Association of Nigeria (NPAN),” a statement by his senior special assistant on Media and Publicity, Malam Garba Shehu, said yesterday.

It added: “The President condoles with family members, government and people of Katsina State, and all associates of the former

president of NPAN, especially the media industry, on the loss, describing him as “greatly admired and respected.’’

“President Buhari believes the demise of the publisher and businessman has created a huge gap as Malam Funtua consistently stood by him in his political journey.

“The president prayed to Allah for the repose of Malam Funtua’s soul, and to grant Continued on page 8

Malam Isa Funtua (1942-2020)

Indicting Self, Akpabio Says NDDC Contracts Went to N’Assembly Members Senate challenges minister to name contract beneficiaries Acting managing director faints during questioning, claims N1.3bn spent as COVID-19 palliatives for staff Deji Elumoye, Chuks Okocha, Adedayo Akinwale and Udora Orizu in Abuja In a self-indicting testimony yesterday, the Minister of Niger Delta Affairs, Senator

Godswill Akpabio, told the House of Representatives Committee on NDDC probing allegations of mismanagement and illegal spending by the commission that the agency under his watch parceled

several contracts for members of the National Assembly, contrary to the provisions of Code of Conduct for Public Officers.

Under the code enshrined in the 1999 Constitution as

amended, it is an offence for public officers to put themselves in a situation where they could have a conflict of interest.

In a swift response, however, the Senate has challenged the

minister to unveil the identities of the lawmakers who had been NDDC contractors.

The commission, which has been enmeshed in a crisis since the recriminations between Akpabio and Pondei's

predecessor, Ms. Joy Nunieh, is being probed over allegations that the NDDC Interim Management Committee (IMC) blew N81 billion in Continued on page 8

BINANI Set to Float Domestic Airline Chinedu Eze

As aviation authorities prepare for full resumption of flight operations in the country, BINANI Group of Companies is set to join the league of Nigeria's domestic airlines.

The new carrier, branded BINANI AIR, according to our source, has already forwarded its application to the Nigerian Civil Aviation Authority (NCAA) for operational licence.

Political associates from

Adamawa State and indeed the North-east geopolitical zone are said to be excited at the giant strides of BINANI Group of Companies.

Their excitement, according to a source, was borne out of the pedigree and determination

of the founder of BINANI Group, Senator Aishatu Binani.

Although with her new role as a senator, she has relinquished active interest in the group, nevertheless she has set a lasting legacy for the companies.

The North-east zone has at date no registered indigenous carrier.

The Managing Director of the Group, Mrs. Aminatu Chiroma, a United Kingdomtrained system analyst, is believed to be working round

the clock and is presently at the final stage of negotiations with a number of international airlines.

The airlines across the globe are from the US, the Middle Continued on page 8

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

Insecurity Now under Control, Buratai Tells Buhari Says 99% of terrorists, 100 of kidnappers are Nigerians

Omololu Ogunmade in Abuja Chief of Army Staff, Lt. Gen. Tukur Buratai, met yesterday with President Muhammadu Buhari to brief him on efforts by the military to tame the wave of banditry and terrorism, especially in the North.

Buratai, told State House reporters after the meeting that the nation's security situation was now better than what it was last month when the president gave the military marching orders to tame insecurity.

Buratai attributed the

containment of insecurity to the success of different operations in the North-west and North-east.

He added that 99 per cent of terrorists and 100 per cent of kidnappers terrorising the country are Nigerians.

Buhari, on June 18, had read the riot act to heads of security agencies, saying their best was not enough and warned against further excuses on their inability to tame insecurity.

But Buratai told the reporters that he briefed the president on updates on security situations in affected parts of the country.

EFCC Restates Commitment to Buhari’s Anti-corruption Agenda Kingsley Nwezeh in Abuja In its first major official statement since the arrest, detention and suspension of its acting Chairman, Mr. Ibrahim Magu, the Economic and Financial Crimes Commission (EFCC), yesterday declared that it is still committed to President Muhammadu Buhari's anti-corruption drive.

It said in spite of recent developments at the agency, operations at the headquarters and its zonal offices nationwide were running smoothly and seamlessly.

The presidency had barred visitors from the headquarters and the zonal offices across the country since last week while some security agents were deployed to keep a tab on activities of the establishment.

Magu was picked up at the Abuja Zonal Office of the commission by security agents on his way to a meeting and whisked away.

He later appeared before Justice Ayo Salami-led presidential panel probing allegations of financial malfeasance and was subsequently detained for nine days at the Force Criminal Investigation Department (FCID), Area 10, Abuja.

The Attorney-General of the Federation and Minister of

Justice, Mr Abubakar Malami, had accused Magu, in a 21-point memo, of insubordination and engaging in financial infractions.

But a statement issued yesterday by the commission said it was committed to the pursuit of the president's anticorruption agenda.

The statement titled: "EFCC Is on Course," urged Nigerians to shun corrupt practices.”

"The Economic and Financial Crimes Commission (EFCC) wishes to inform the general public that normal activities and operations are running smoothly and seamlessly in all its zonal offices across the country and its corporate headquarters in Abuja.

"Admittedly, latest developments in the commission and the subsisting COVID-19 protocols have necessitated a scaling down of activities," it said, adding: "Visitors on invitation by the commission are, in no way, affected by these."

The statement signed by its spokesman, Mr. Dele Oyewale, said: "The EFCC is deeply committed to the anticorruption agenda of President Muhammadu Buhari and every Nigerian is enjoined to continue to shun and expose corrupt practices anywhere, anytime.

"The EFCC is on course and its values remain sound and robust."

He said: "I’m here to brief Mr. President on the task he gave me and I have accomplished one aspect of the task and to brief him on our operations, especially operations Sahel Sanity in the North-west and of course, the ongoing operations in North-east and other security issues that pertain to the Nigerian Army actually.

"I briefed him on the efforts going on in the North-west. We have seized the initiative. The security situation, I assure you, is under control and it is not like what used to happen a month or two ago.

"We are working very hard and the troops are doing very well and I commend them for the efforts they have put in so far. This includes the kinetic and the non-kinetic aspect of our exercise - Sahel Sanity."

According to Buratai, notable progress has been made through the joint operations of the armed forces.

He said kidnappings, serial killings and cattle rustling had

been brought under control and people in affected parts of the country could now go to their farms without fear.

Promising sustained efforts to promote security, Buratai canvassed the support of all citizens to achieve this.

He also appealed to the press to play down reportage of cases of banditry and terrorism, saying such criminal activities thrive on publicity.

"We are there fully, supporting Operation Hadarin Daji, which is a joint operation of the armed forces and the security agencies.

"So far, this collective effort is making tremendous progress in the area of bringing normalcy.

Unlike the series of killings, kidnappings, cattle rustling and of course, the threats to prevent the people from going to their farms this season, this has been removed with the presence of the number of troops in the Northwest and they are carrying out surveillance operations, patrol to ensure that no one is molested if you go outside the community

to farm or harvest.

"We will ensure that this is sustained throughout this farming season and beyond.

What we require is the full support of everyone in the area.

"It is also important for the press not to escalate the situation through reportage, giving prominence to the bandits, terrorists activities. This will go a long way in weakening them. ''You know for the criminals, publicity is their oxygen. Without that publicity, they will be ineffective coupled with our efforts in the military and security agencies. We will do everything possible to get rid of these criminals," he added.

Buratai said whereas the main task of the military was to defend the country against external aggression, the armed forces were only supporting the police to contain other crimes.

Asked when Nigerians should expect an end to banditry and terrorism, Buratai said such criminality had been in Nigeria since inception, adding that only

terrorism is new.

He stated, however, that the end of such criminality would only be dependent on Nigerians' preparedness to cooperate with security agents.

"As to whether banditry, terrorism and so on will end, I think it all depends. If Nigerians want it to end today, I can assure you, it will end today if everybody joins hands because these bandits are not outside Nigeria. They are not from foreign land.

"These terrorists, 99 per cent of them, are Nigerians. These kidnappers, I will say 100 per cent of them, are Nigerians.

So, it’s not just a military, security agency's task to end the insecurity in this country.

It’s only when it goes bad that we are called in, but everybody has the responsibility to handle that.

"Some of the insecurities are as old as history itself and it all depends on what you are doing to contain or defeat it at a particular time.

HOT SEAT...

Acting Managing Director, Niger Delta Development Commission, Prof. Kemebradikumo Pondei, after he was revived at the public hearing by the House of Representatives committee investigating alleged fraud in NDDC in Abuja…yesterday

We Can’t Stop Obaseki, Shaibu over APC's Suit, Says INEC Parties bicker over alleged recruitment of cultists Chuks Okocha in Abuja and Adibe Emenyonu in Benin City The Independent National Electoral Commission (INEC) has said only the court could stop the Peoples Democratic Party (PDP) governorship candidate, Mr. Godwin Obaseki, and his running mate, Hon. Philip Shaibu, from contesting the September 19 election in Edo State.

INEC, which acknowledged it is aware of a suit by the All Progressives Congress (APC) challenging the candidacy of Obaseki, the incumbent governor, and Shaibu, his deputy, told THISDAY yesterday that it has no official position on the suit.

The clarification came as the APC and the PDP in Edo State yesterday engaged in a war of words over the allegation by the APC that the PDP and Obaseki were recruiting cultists to cause mayhem during the governorship election.

INEC, last week, in compliance Section 34 of the Electoral Act 2010 (as amended), had published the final list of candidates for the

governorship election in the state by displaying it in its offices in the state capital and the 18 local government areas of the state.

Speaking yesterday on the court action by the APC against Obaseki and his running mate, the INEC’s National Commissioner in charge of Voter Education and Information, Mr. Festus Okoye, said the commission, as a creation of the constitution and the law, would “not dictate to or abridge or assist in circumventing the constitutional and legal rights of aggrieved persons, aspirants, candidates or political parties in seeking redress or refuge in the courts for perceived or actual violation of their rights.

"They have the right to ventilate their grievances and it is left to the courts to determine whether their suits merit its intervention.

"Section 31(1) of the Electoral Act, 2010(as amended) makes it mandatory for political parties to submit the names of candidates they intend to sponsor for governorship election in Edo State to the commission 60 days before the date appointed for the election. In compliance

with our timetable and schedule of activities as well as section 31(3) of the Electoral Act, the commission published the personal particulars of the candidates in the INEC office in Edo State.

"The essence and implication of the publication is that any person who has reasonable grounds to believe that any information given by a candidate in the affidavit or any document submitted by that candidate is false may file a suit at the Federal High Court, High Court of a state or FCT against such a person seeking a declaration that the information contained in the affidavit is false.

"By Section 31(6) of the Electoral Act, if the court determines that any of the information contained in the affidavit or any document submitted by that candidate is false, the court shall issue an order disqualifying the candidate from contesting the election.”

Okoye said the commission would focus on its constitutional and legal mandate of organising, undertaking and supervising the governorship election.

“It is the duty and responsibility of courts to interpret the law and the constitution. The commission will continue to give effect to all lawful orders and judgments from superior sourts of record,” he added.

He stated that with the publication of the final list of candidates, no political party could withdraw or substitute any of the nominated candidates or tamper with the list and particulars of the candidates in a manner inconsistent with the intendment of the constitution and the Electoral Act.

APC, PDP Bicker over Alleged Recruitment of Cultists The APC and the PDP in Edo State yesterday engaged in a war of words over the allegation by the APC that Obaseki and his party were recruiting cultists to disrupt the September 19 governorship election.

APC had alleged that those being recruited as Senior Special Assistants (SSAs) and Special Assistants (SAs) by the Obaseki

administration would be used to foment trouble during the election.

Publicity Secretary of the APC in the state, Mr. Chris Azebamwan, told reporters at a press conference in Benin City that Obaseki since his emergence as the PDP candidate had embarked on “massive recruitment of thugs and criminals, but this time officially into government.”

He said the people had a cause to worry, adding that “this is because the violence and chaos have already begun.”

But Obaseki, in a reaction by his Special Adviser on Media and Communication Strategy, Mr. Crusoe Osagie, said yesterday that the APC chieftains in the state were the ones allegedly sponsoring thugs with a view to undermining the will of the people in the forthcoming governorship election.

Osagie said APC chieftains and their allies had resorted to violence after discovering that they could not win the election in a fair contest.

The PDP also described the accusation of recruiting cultists

as frivolous and unsubstantiated, saying it shows the desperation of APC in telling tall tales.

The state Publicity Secretary of PDP, Mr. Chris Nehikhare, said: "We really do not want to respond to the infantile tantrum of APC as it is now becoming obvious to the good people of Edo State, especially the voting public, that APC has finally lost the plot and is grabbing at straws to shield its obvious incompetence. Or how else does one respond to a statement laced with lies, childish innuendos, immature reasoning and thoughts? No wonder the party had been trending on monumental failures.

"To reconcile APC thinking that the Edo State Government is giving out appointments to thugs and cultists to disrupt the elections when Edo people now call and hail the governor as the thug and godfather slayer, is an obvious display of its desperation to try to bully the good people of our state.

It is common knowledge that the APC is the party that is populated by known thugs and brigands in the many factions that exist within it."

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BODY OF EXPERTS...

L-R: Members of Body of Experts, Prof. Abdulhamid Ahmed and Prof. Isah Hussaini; Director-General, National Agency for Food and Drug Administration and Control, Prof. Mojisola Adeyeye; Secretary to the Government of the Federation, Mr. Boss Mustapha; Governor, Central Bank of Nigeria (CBN); Mr. Godwin Emefiele; Deputy Governor, Mr. Edward Adamu; Ag. DG/CEO National Biotechnology, Prof. Alex Akpa; and others experts during the inauguration of the Body of Experts (BoE) of the Healthcare Sector Research and Development Intervention by the SGF in Abuja…yesterday

FG Approves Launch of N15tn Infraco Plc MPC holds monetary policy tools Banking sector credit rises to N18.90tn in June 22 Banks restructure N7.8tn loans to 35,640 customers Obinna Chima in Lagos and James Emejo in Abuja As part of efforts to stimulate infrastructural development across the country, the Central Bank of Nigeria (CBN) yesterday revealed that the federal government has approved the take-off of the establishment of a N15 trillion infrastructure development company (Infraco).

CBN Governor, Mr. Godwin Emefiele, who revealed this during a media briefing on the outcome of the Monetary Policy Committee (MPC) meeting, said the Committee members also commended the federal government for the approval to establish the Infraco which would leverage local and international funds for rebuilding of critical infrastructure.

Emefiele had in a 27-page paper he wrote in April, proposed the Infraco as part of efforts to reposition the Nigerian economy and insulate it from external shocks after the COVID-19 pandemic.

“This entity, which will be wholly focused on Nigeria and Nigerians alone, will be co-owned by the CBN, the Africa Finance Corporation (AFC) and the Nigeria Sovereign Investment Authority (NSIA), but exclusively managed by an Independent Infrastructure Fund Manager (IIFM) that will mobilise local and foreign capital to support the federal government in building the transport infrastructure required to move agriculture and other products to processors, raw materials to factories, and finished goods to markets.

“The sum of N15 trillion is projected over five years for the initial run. The committee noted with satisfaction the CBN’s immediate work on the updates and timelines for the establishment of this much-needed entity,” he said yesterday.

As anticipated by analysts, the committee, at the end of the meeting, resolved to keep all the monetary policy tools unchanged.

The MPC voted to retain the benchmark monetary policy rate (MPR) at 12.5 per cent; retain the asymmetric corridor of +200/-500 basis

points around the MPR; retain the cash reserve requirement (CRR) at 27.5 per cent and also retained the liquidity ratio at 30 per cent.

Emefiele also said the CBN has disbursed a total of N179.178 billion to operators in the manufacturing and healthcare sectors.

The amount, however, did not include the N50 billion targeted credit facility for households and small businesses out of which N49 billion had been disbursed.

It is also apart from the CBN and Bankers’ Committee AgriBusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS) out of which N41 billion has also been disbursed.

Responding to a question on the impact of the CBN aggressive intervention since the outbreak of the virus, Emefiele said: “When the COVID-19 struck, we put on the table, a couple of intervention facilities.

Firstly, we said we were making N50 billion available to support households and SMEs that are impacted adversely by COVID-19.

“Secondly, we said for the health and pharmaceutical companies, we are putting on the table, N100 billion. To support the agricultural and manufacturing sectors to also remain business, we also put on the table N1 trillion in intervention facilities.

“And I can say that as at today, the update as at today is that over N152.9 billion has been disbursed to 61 manufacturing companies, out of the N1 trillion.

Also, 20 healthcare projects have been funded to the tune of about N26.278 billion out of the N100 billion.

“Under the AGSMEIS, the CBN has also funded 11,613 beneficiaries with over N41 billion. This is different from the household facility. The AGSMEIS fund is for people who want to go into small-scale poultry, setting up a barbing salon, and we make it possible for you to be able to get the tools you need to go into your business and these are the micro and small businesses that badly need access to credit in the economy.

“Also, out of the N50 billion that we set aside for the household and MSMEs that are affected by the COVID-19,

we have so far disbursed to over 92,000 people close to N49.195 billion. Indeed, the board of the bank and the MPC endorsed the fact that we might even need to increase the household and MSMEs’ facility to accommodate more of the households and businesses so that they can easily recover from the crisis and get back into their micro businesses.”

In addition, he said the CBN-coordinated CACOVID, a private sector intervention scheme, has so far mobilised over N32 billion to support the economy, lives and livelihoods.

He said the MPC members were optimistic that upon further drawdown of the intervention facilities, the muchneeded reset and rebound of the Nigerian economy would

become a reality.

Earlier, while reading the MPC communiqué, Emefiele said the committee expressed concern over the persistent, albeit marginal, uptick in inflation for the tenth consecutive month, as headline year-on-year inflation rose to 12.56 per cent in June from 12.40 per cent in May. The committee reiterated the need for a robust fiscal policy strategy to attract private investment and capital, to finance the huge infrastructure deficit in Nigeria and strengthen the initiatives by the federal government and the CBN. Aggregate domestic credit (net) grew by 5.16 per cent in June; banking sector credit increased by N3.33 trillion, from N15.56 trillion at the

end of May 2019, to N18.90 trillion at the end of June 2020.

“These credits were largely recorded in manufacturing, consumer credit, general commerce, and information and communication and agriculture, which are productive sectors of the economy,” he stated.

Emefiele also disclosed that a total of 22 banks have so far restructured loans worth N7.8 trillion to 35,640 customers.

“If the CBN did not ask the banks to grant these forbearance to their customers, the loans will go bad immediately by our prudential ratios,” Emefiele said.

The committee added that banking sector non-performing loans decreased to 6.4 per cent at the end of June, from 9.4 per cent in the corresponding period of 2019, on account of

increased recoveries, write-offs and disposals.

“The committee expressed confidence in the stability of the banking system and urged the bank to monitor the compliance of banks to its prudential and regulatory measures to sustain the soundness and safety of the banking industry.

“In light of the bank’s continued effort to find innovative ways of using local resources to diversify the sources of the country’s foreign exchange reserves, the committee welcomed the decision of the Central Bank of Nigeria to develop a gold purchase framework under the federal government’s Presidential Artisanal Gold Mining Development Initiative,” Emefiele added.

FG Releases N995.6bn for Capital Projects Presents N162.557bn Sukuk cheque for 44 road projects Ndubuisi Francis in Abuja The federal government has so far released a total of N995.665 billion to finance capital projects in the 2020 budget, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said.

The minister also presented a cheque of N162.557 billion, being proceeds of the third Sovereign Sukuk issued by the Debt Management Office (DMO) for 44 road projects across the country, to the Minister of Works and Housing, Mr. Babatunde Fashola.

She said yesterday in Abuja that a total of N1.347,423,264,262 was appropriated for capital expenditure in the revised 2020 Budget, adding that President Muhammadu Buhari had directed that 50 per cent of the budgeted amount should be released before the end of July.

Ahmed stated that total capital releases, including the N162.557 billion Sukuk proceeds now stands at N995.665 billion, adding that the DMO raised N162.557 billion from investors in June 2020.

She said: “This amount

is strictly dedicated to the financing of road projects in the revised 2020 Appropriation Act. It also means that with the release of N162.557 billion to the Federal Ministry of Works and Housing, the amount appropriated for road projects financed by Sukuk in 2020 Budget has been fully released.”

The minister noted that the federal government had been encouraged by the tremendous success recorded with regards to improvements in road infrastructure across the six geo-political zones with the intervention of the special funding.

According to her, the evidence of the use of the proceeds of Sukuk for works done are there in the comments and feedback received from commuters, transporters, other businesses, investors and other Nigerians.

She said the Buhari administration believed that with the deployment of the Sukuk funds, coupled with the capital releases and various interventions by the government, the country will be on the path to economic development.

Earlier in her remarks, Director General of the DMO,

Ms. Patience Oniha, had said the cheque presentation was organised to celebrate the successful completion of the Sovereign Sukuk issued by her agency on behalf of the Federal Government of Nigeria (FGN).

She added that the first Sukuk of N100 billion was issued in September 2017, followed by another in December 2018 in the same amount, noting that with the issuance of the third Sovereign Sukuk, the FGN had raised a total of N362.577 billion, all of which are for the rehabilitation of road projects nationwide.

“Many road users have confirmed that they have had a better travel experience on the projects financed through Sukuk. This is besides the many benefits such as job creation, financial inclusion and development of the domestic capital market arising from the Sukuk issuance,” Oniha said.

According to her, the strong response to the third Sovereign Sukuk for which a total subscription of N669.12 billion was received for the N150 billion on offer, representing a subscription level of 446.08 per cent, is indicative of good market awareness and acceptance of

Sukuk as a financial product.

She noted that flowing from this realisation, the DMO plans to continue to use Sukuk and Green Bonds, both of which are project-tied to support the development of infrastructure and other capital projects.

In his remarks while receiving the cheque, Fashola noted that while there has been public debate on government's increasing borrowing, the justification could be gleaned from what has been achieved with the proceeds of Sukuk bonds in the past few years.

Fashola stated that the cheque presentation underscored a working partnership between the public and private sectors.

Applauding the finance ministry, the DMO and the National Assembly for the synergy that led to the Sukuk, Fashola said all the six geo-political zones would benefit from the projects listed for execution with the funds.

Giving the breakdown, he said the North-eest, North-east and North-central had eight roads each slated for rehabilitation while the South-south had 10.

The South-west has six for rehabilitation while the South-east has five, he stated.

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PAGE EIGHT INDICTING SELF, AKPABIO SAYS NDDC CONTRACTS WENT TO N’ASSEMBLY MEMBERS seven months.

Akpabio, while being grilled by the committee, accused members of the National Assembly of being the greatest beneficiaries of majority of the contracts awarded by NDDC. There was a mild drama during the hearing yesterday as Pondei fainted while under questioning. The commission, in a reaction, said Pondei was not feeling well before his appearance before the committee.

Before he fainted, Pondei had said the commission spent N1.3 billion, and not N1.5 billion, which was earlier attributed to him, as COVID-19 palliative for members of staff.

Reacting to Pondei's collapse, the Peoples Democratic Party (PDP) said it underscored the weight of corruption that has bedeviled the All Progressives Congress (APC)-led administration.

Akpabio, responding to a question from the lawmakers, said the commission should not be closed down because of the forensic audit ordered by President Muhammadu Buhari.

When asked to explain what he meant, he said: ''Just look at your chairman, (Olubunmi Tunji-Ojo), I have records to show that most of the NDDC contracts were given out to the National Assembly members. The two chairmen of both committees can explain to you.

“Who are even the greatest beneficiaries of the contracts?

It’s you people at the National Assembly.”

But one of the lawmakers interrupted him saying: “Can I ask you a question? What is

the benefit that the National Assembly is benefiting from NDDC?” The minister responded: “I just told you that we have records to show that most of the contracts in NDDC are given out to members of the National Assembly but you don’t know about it, the two chairmen can explain to you. I was a member of the NDDC committee; so, I know about it.”

While Akpabio was trying to shed more light on his claims, he was stopped from speaking further by the Deputy Chairman of the committee, Hon. Thomas Ereyitomi, who raised a point of order.

The minister also accused the lawmakers of bullying him in the way they threw questions at him.

Ereyitomi, who presided over the hearing, asked the minister if the three major projects he had carried out had the approval of the Federal Executive Council (FEC).

Akpabio explained that the idea of the contract for the procurement of vehicles went through the Bureau of Public Procurement (BPP) and must have gone through due diligence before he presented it to FEC. ''So, when something has gone through the BPE, it's my job to present it to FEC because they have their own criteria. Of the three contracts, two went through FEC. BPE approved two of them, one is the vehicle and as at the time these things were done, they are in 2019 budget, I think.''

The minister, who was interrupted while answering the question, said: “Mr. Chairman, the condition, where we are in

now, does not require bullying, with due respect."

But Ereyitomi dismissed Akpabio's allegation of bullying, saying that he should answer the question directly.

When asked about his altercation with Nunieh, the minister said: ''The former managing director of the NDDC was relieved of her appointment when I received a letter from the then chief of staff (may his soul rest in peace) that she did not possess the requisite qualifications to be there. ''For instance, we have written twice to the National Youth Service Corps and twice they have insisted that she never served and that she does not have an NYSC certificate or an exception."

He added that among other reasons, the former NDDC MD was sacked for insubordination.

Akpabio and Nunieh have engaged in a running battle, trading accusations over the management of NDDC. In response to the minister's allegations that she did not take part in NYSC and she was guilty of insubordination, Nunieh had accused Akpabio of harassment and trying to use her to carry out illegalities in the commission.

When asked if he had at anytime influenced the decisions of the managing director, the minister said: ''If in anyway I find out the MD is not going in the interest of Niger Delta, I would intervene.''

Akpabio also told the committee that the forensic audit ordered by the president was ongoing. ''We've concluded with the

BPE for the forensic auditors; we divided them into 10 lots. Ernst & Young has been approved by the BPE, which we've presented to the Federal Executive Council, in addition to about eight other companies right now.''

On the allegations that 30 NDDC files were missing, and that he took them away. ''Most of the files were given to the executive director by the MD when the report of arson reached the police and the Commissioner of Police in River State had to personally visit the office. The files were taken to safe custody and handed over to the forensic auditors,'' he added.

The minister also defended his membership of the presidential monitoring team on activities of NDDC, saying: ''If you know why NDDC is where it is today, you will know that it's because of lack of proper monitoring and supervision. If the minister cannot ask the NDDC to bring its expenses for scrutiny, then it means that the minister can stay for four years and they spend over one trillion naira without his knowledge. This is why it's important the minister should be appointed as the chairman of the presidential monitoring committee, so he can have access to the expenses of NDDC.'' After hours of grilling, Ereyitomi thanked the minister for his time, saying that the purpose of the committee was not to witch-hunt anyone but to provide an avenue for an interactive session and also an opportunity to hear the minister’s side of the story.

Consequently, the lawmaker moved a motion for adjournment.

No specific date was given for the continuation of the hearing.

Earlier, protesters had stormed the main entrance of the National Assembly before the commencement of the probe.

The protesters were in two groups and armed with various placards.

While the group supporting the National Assembly’s probe is called Emerging Leaders Forum of Nigeria, the group backing the NDDC and Akpabio against the probe called itself Niger Delta Development Initiative (NDDI).

Security personnel were able to separate the two groups to avoid a clash.

Senate Challenges Minister to Name Contract Beneficiaries Reacting to Akpabio's allegation, the Senate yesterday challenged him to name NDDC contractors among the National Assembly members.

Chairman of the Senate Committee on Media and Public Affairs, Senator Ajibola Basiru, told THISDAY that the allegation is general and urged the minister to list the legislators that benefitted from the contracts.

"The allegation is general.

Let the minister be specific as to the contracts awarded and the names of the National Assembly members who got the so-called contracts. I am not aware of any such contract as a member of the National Assembly," he added.

Drama as NDDC Boss Faints During House Hearing

BUHARI MOURNS, MEDIA, BUSINESS LEADER, FUNTUA, DIES AT 78 the family strength and fortitude to bear the loss.”

Funtua, who died of cardiac arrest last night at 78, will be buried today, according to family sources.

He was the chairman of Bulet Construction Company, which built many of the iconic public buildings in Abuja, the nation’s capital.

In a tweet, Mr. Bashir Ahmad, an aide of Buhari, expressed regrets over the incident “Inna lillahi wa inna ilaihi raji’un! Just heard about

Mallam Ismaila Isa Funtua’s sudden death. This life! May Allah accept his soul, forgive his shortcomings and grant him Jannah al-Firdaus,” he tweeted.

Born in Funtua, Katsina State, Funtua was a pioneer student of the Federal Training Centre, Kaduna.

He trained as an administrative officer at the Institute of Administration, Ahmadu Bello University (ABU), Zaria and also as an administrator at the Manchester University in the UK. He commenced his working

career at the Katsina Native Authority many decades ago, and remained as constant as the northern star in the polity.

In his public and private endeavours, the Manchester University-trained administrator was indisputably remarkable.

His feats as a businessman, media patron and administrator distinguished him as an exceptional statesman, whose image was profitable to Nigeria’s developmental trajectory.

Under the administration of the late President Shehu Shagari

in the Second Republic, he was the Minister of Water Resources and the youngest minister in that administration.

He established the Democrat Newspapers during military rule, and when decrees restrained freedom of speech, the newspaper thundered against the ills of that age.

Funtua stood against the plots and attempts to kill freedom of expression, especially during the regime of the late Gen. Sani Abacha.

For not keeping quiet in the

face of tyranny, Funtua became one of the targets of the regime, as he was said to be No. 13 on the Abacha’s hit-list.

As a member of the 1994-1995 Constitution Conference, he was on the committee that proposed the models in some of the key areas of Nigeria's democratic evolution.

One of such was a special committee of 37 people on zoning and rotational presidency, which resolved that rotation of power between the North and South be entrenched in the constitution.

revealed said: “We are happy at the intention of the company.

“The plan to start the airline is coming at a time when travelling for business to other parts of the country is increasingly becoming difficult as a result of insecurity, hence it is a welcome development that will be greatly appreciated by the people of Adamawa and the North-east

at large.

At NCAA, THISDAY was asked to come back after the resumption of flights.

The officer contacted said: "Don't you see how busy we are trying to meet our target of resuming full commercial flights in the country soon?"

Commercial air operations have been shut down in most

countries, including Nigeria, since the outbreak of the COVID-19 pandemic.

It is believed that some airlines and other businesses may not survive or return to business, hence the reason why BINANI Group is moving ahead to fill in the gaps and offer prospective passengers the right choice they need.

Enterprise Bank, where she held management positions in Legal, Treasury, Investment Banking, Retail/Commercial Banking and Corporate Banking. As an executive director at the Legacy Enterprise Bank Plc, she received a formal commendation from the Asset Management Corporation of Nigeria (AMCON), as a member of the management team, that successfully turned around Enterprise Bank Plc. She holds Bachelor of Laws (LLB) degree from the University of Nigeria, Nsukka; a Master of Laws (LLM) degree from Kings College, London and has attended executive training programmes at notable global institutions including Harvard Business School, The Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, London Business School and IMD amongst others.

Ugwuoke joined Fidelity Bank in 2015 as General Manager, Chief Risk Officer. Under his supervision, the bank’s total loan book has grown by a Compound

Annual Growth Rate (CAGR) of 17 per cent from N559.1 billion to N1,218.9 billion with the cost of risk averaging 0.7 per cent within the period and Non-Performing Loans Ratio below the regulatory threshold at 4.8 per cent in Q1 2020.

He has over 29 years of banking experience across various banks namely Citi Bank, Access Bank Plc, United Bank for Africa Plc and legacy Mainstreet Bank Limited, where he worked in various capacities in Banking Operations, Commercial Banking, Corporate Banking and Risk Management.

Prior to joining Fidelity Bank, he was Chief Risk Officer at United Bank for Africa Plc and Mainstreet Bank Limited.

He holds a First-Class Honours degree in Civil Engineering from the University of Nigeria, Nsukka and a Post Graduate Diploma in Management from Edinburgh Business School of Herriot-Watt University. He has attended several executive training at Harvard Business School and other world-class institutions of learning.

BINANI SET TO FLOAT DOMESTIC AIRLINE East, Asian Countries and with two prominent African Airlines for Partnership.

According to findings, BINANI Air will be made up of 80 per cent shareholders’ investment, creating a record of value addition in attracting Foreign Direct Investment (FDI) for Nigeria.

It was gathered that apart

from Lagos-Yola, Kano, Maiduguri and Port Harcourt, the airline will operate to Bauchi and Gombe States to fill in the gap for needed air service especially for the North-east geo-political zone.

Speaking about the plan, a representative of the company who spoke to THISDAY on the condition that his identity is not

FIDELITY BANK APPOINTS ONYEALI-IKPE AS CEO DESIGNATE Ugwuoke, the current Chief Risk Officer of the bank, as executive director, subject to the approval of the CBN. “To ensure a smooth and successful transition, Nnamdi Okonkwo will continue in his role as the MD/CEO until December 31, 2020, while Nneka OnyealiIkpe will assume office as the substantive MD/CEO by January 1, 2021” said the Chairman, Board of Directors of Fidelity Bank, Mr. Ernest Ebi. He commended the MD/CEO for his significant contributions to the growth and development of the bank.

“Fidelity Bank has enjoyed a very stable leadership since inception. These appointments underscore the bank’s robust human capital capabilities, governance, and succession policies. We thank Nnamdi not only for his sterling performance but also for nurturing the new team and the current crop of leaders to continue to steer the bank on its growth trajectory,” he said.

Okonkwo was appointed to the

board of Fidelity Bank in April 2012 as an executive director and was subsequently appointed the MD/CEO on January 01, 2014.

He implemented a digital-led strategy, which led to significant growth across key performance matrix and increased market share, with the bank currently ranked sixth amongst Nigerian banks on most performance indices.

Some of his key achievements include profit before tax growth of 236 per cent, from N9 billion to N30.4 billion; return on equity increase from 5.5 per cent to 13.3 per cent; customer deposits growth of 68 per cent from N806.3 billion to N1,352.3 billion and savings deposit growth of 275 per cent, from N83.3 billion to N312.1 billion.

“Other notable achievements include net loans and advances growth of 174 per cent from N426.1 billion to N1, 165.8 billion; customer base increase by 121 per cent, from 2.4 million to 5.3 million and digital banking penetration improvement from one per cent to 50.1 per cent, accounting for

28.4 per cent of total fee income.

“In addition, the bank successfully accessed the local and international markets through the issuance of N30 billion corporate bonds in 2015 and $400million Eurobonds in 2017 under his leadership,” the bank said.

Onyeali-Ikpe was appointed to the board of Fidelity Bank in 2015 as an executive director and currently oversees the Lagos and South West Directorate.

She led the transformation of the directorate to profitability and sustained its impressive year-on-year growth across key performance metrics.

Onyeali-Ikpe has been an integral part of the current management team, responsible for the remarkable increase in the bank’s performance in the last five years, with the area under her direct responsibility, contributing over 28% of the Bank’s PBT, deposits and loans.

She has over 30 years of experience across various banks, including Standard Chartered Bank Plc, Zenith Bank Plc and Citizens International Bank/

However, before Akpabio was called by the lawmakers to testify, acting Managing Director of the commission, Prof Kemebradikumo Pondei, had collapsed on his seat as members of the House Committee on NDDC grilled him.

Pondei was rushed out of the venue of the investigative hearing but Akpabio stayed behind.

The committee had grilled Pondei for about 45 minutes before he fainted.

He told the lawmakers that the commission spent N1.3 billion, and not N1.5 billion, as COVID-19 palliative for the staff.

He stated that he must have said the commission spent N1.5 billion to ‘’take care’’ of themselves out of anger.

During an earlier appearance before the committee, Pondei had said the commission spent N1.5 billion for staff as COVID-19 relief funds.

He stated: "I must have said the ‘’take care’’ of ourselves in anger; it was not N1.5 billion; the figure is N1.32 billion. On the question where in the budget that I derive power to spend the money, I will provide that answer for you. I don’t want to lie under oath."

Asked by the committee if it would be right to say that the commission did extra-budgetary expenses, Pondei said: "I will not say so, let me ask my EDP (Executive Director in charge of Projects) to explain, I think he has more facts concerning that. I will provide the answer. We will bring this to you, Mr. Chairman, it will be sent to your committee.

I don’t have the budget here."

Continued on page 10

He was the Monitor General of the Course 9 of the prestigious National Institute of Policy and Strategic Studies (NIPSS), Kuru.

Funtua served the Katsina Native Authority for seven years as Administrative Officer.

He later served in various ministries in the defunct Northern Region before his secondment by the Northern Region government as the Personnel Manager of the 10,500 strong United Nigerian Textile Company, Kaduna.

From there he became a successful entrepreneur.

Funtua founded Bulet International Nigeria Limited, the largest wholly-owned indigenous construction company.

He was the founding Managing Director of the New Africa Holdings (publishers of the defunct Democrat newspapers).

He was elected Vice President to the late MKO Abiola as President of the NPAN, where he declined to succeed MKO as president while being incarcerated by the late Abacha.

He later became the President of the NPAN.

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TUESDAY JULY 21, 2020 ˾ T H I S D AY

9

NEWSEXTRA

Nigeria’s COVID-19 Cases Rise By 563 to 37, 225 NCDC excited as UK vaccine trials show positive sign Martins Ifijeh Nigeria has recorded 563 new cases of COVID-19, bringing to 37,225 the number of confirmed cases in the country.

This is coming as the Nigeria Centre for Disease Control (NCDC) has expressed excitement as two COVID-19 vaccine candidates have shown prospects in preventing the virus among humans, according to early clinical results published by The Lancet in the United Kingdom.

Announcing the cases yesterday, the NCDC said the Federal Capital Territory (FCT) recorded 102 new cases; Lagos, 100; Plateau, 52; Kwara, 50; Abia, 47; Kaduna, 35; Benue, 34; Oyo, 26; Ebonyi, 24; Kano, 16; Niger, 15; Anambra, 14; Gombe, 12; Edo, 11; Rivers, six; Nasarawa and Delta, five each; Borno, three; Enugu and Bauchi, two each; and Kebbi, one.

It said: “Nigeria has recorded 37,225 cases of COVID-19. 15,333 patients have been discharged, while 801 persons have died.”

Meanwhile, the world may soon heave a sigh of relief as two COVID-19 vaccine candidates have shown prospects in preventing the virus among humans.

NCDC has expressed excitement over the development, saying the third phase of the trial vaccines will determine their efficacies against the disease.

In a tweet, NCDC said: “Phase I and II trials of the COVID-19 vaccine shows promise, however, phase III are needed to validate its efficacy against the virus.”

The vaccines, developed by the University of Oxford and AstraZeneca have shown signs of inducing an immune response in patients involved in its trials.

According to The Lancet, the

trial results found that the vaccines generated two ‘strong’ immune responses: the production of both antibodies and T cells, which find and attack virus cells.

The Director, Jenner Institute, Oxford University, Adrian Hill said: “We are getting both sides

of the immune system stimulated and that is fairly unusual for vaccines.

An infectious disease expert at Vanderbilt University Medical Center in Nashville, Dr. William Schaffner said: “It is good news.

It is another step forward on the

long road to having a COVID-19 vaccine.”

Schaffner was however not involved in the vaccine research.

Dozens of teams across the world are working on other potential COVID-19 vaccines.

Moderna, a Cambridge, Massachusetts-based biotech company, published its PHASE 1 trial results of its vaccine last week, and announced plans to begin its final phase of human testing at the end of July.

Akeredolu Wins APC Primary in Ondo James Sowole in Akure The incumbent Governor of Ondo State, Mr. Oluwatotimi Aketedolu has won the primary election of the All Progressives Congress (APC) to emerge the party’s candidate for the October 2020 governorship election in the state.

Akeredolu popularly called Aketi, defeated seven other aspirants that contested against him after four other aspirants stepped down to support his second term project.

The four aspirants that stepped down for Akeredolu are Mr. Ife Oyedele, Mr. Jimmy Odinmayo, Mr. Nathaniel Ojutelegan and Mr. Olusegun Abraham.

The primary was held amidst

tight security provided by men of the Nigeria Police from Kogi and Ondo states, men and officers of the Department of State Services (DSS) and the, Nigeria Security and Civil Defence Corps (NSCDC).

In the results of the primary announced this early morning by the Governor of Kogi State, Mr. Yahaya Bello, Akeredolu won in all the 18 local government areas.

Announcing the results, Bello said 33 invalid votes were recorded.

Giving the details of votes scored by the aspirants, Bello said Akeredolu scored 2, 458 votes while Mr. Olusola Oke came a distant second with 262 votes.

YOU ARE WELCOME ON BOARD...

L-R: Permanent Secretary/Solicitor General, Delta State, Mr. Awuse Maxwell; newly appointed permanent secretaries, Mr. Agamah EzonAbode; Mr. Aghedo Chuka; Deputy Governor of Delta State, Mr. Kingsley Otuaro; and Delta State Governor, Senator Ifeanyi Okowa, after the inauguration of the newly appointed permanent secretaries at the Government House, Asaba… yesterday

FG Set to Sell 216 Assets of Defunct PHCN Emmanuel Addeh in Abuja The federal government is to dispose off some of the non-core assets belonging to the defunct Power Holding Company of Nigeria (PHCN) in three phases.

Speaking during an oversight function to the Abuja Electricity Distribution Company (AEDC) by the Senate Committee on Power, led by Senator Gabriel Suswam, Managing Director of the Nigerian Electricity Liability Management Company (NELMCO), Mr.

Adebayo Fagbemi, said processes for the proposed sales were nearing completion.

During the tour, the Managing Director, AEDC, Mr. Ernest Mupwaya, also indicated interest in buying two of the assets the company currently occupies in Abuja, adding that the AEDC has the right of first refusal on the buildings.

However, Fagbemi explained that according to the Procurement Act, the assets were being sold out in phases because the government

will have to offload “as at the time of best value”.

The government said it would be cumbersome to put everything in the market at the same time as it has to get the value at the current period for the assets transferred to NELMCO. NELMCO was designated to assume responsibility for all of the PHCN liabilities leading up to the November 1, 2013 handover of the companies as well as the management of the non-core assets of the companies, prior

to disposition of same.

It also administers the stranded debts, settles PHCN’s Power Purchase Agreement (PPA) debts obligations, legacy debts and sells, lets, mortgages as well as dispose of any of the property or non-core assets of the company.

Fagbemi said NELMCO had advertised the procurement of some of the assets and everything was being done to ensure that the right thing was done.

You are a Frustrated Loser, Amotekun to Secure South-west With Local, Modern Technologies, Says Commandant PDP Tells Oshiomhole He described the Amotekun produce.”

Ijero Local government areas Victor Ogunje in Ado Ekiti Chuks Okocha in Abuja

The Peoples Democratic Party’s National Campaign Council on Edo Governorship Election (PDPNCEG) has described the former National Chairman of the All Progressives Congress (APC), Mr. Adams Oshiomhole, as a frustrated loser who is bitter because Governor Godwin Obaseki refused to grant him access to Edo State’s treasury.

According to a statement by the Publicity Secretary of the party, Mr. Kola Ologbondiyan who is the Secretary, Publicity Sub-committee of the PDP National Campaign Council on Edo Governorship Election (PDPNCEG) the sacked APC National Chairman is crying like a baby because the feeding bottle of treasury looting has been taken off his mouth and the people of the state are determined to stand with Obaseki, who has been channeling all resources to the development of the state.

“Indeed, if there will be any snake in the Edo political firmament, it should be Adams Oshiomhole himself, who like that old forked-tongue serpent, has betrayed the people of Edo

State by offering them the same individual he exposed as a thief, acid bather and a rusticated student, who, according to him, is only good for ‘night meetings’ and should not be trusted with the position of the governor of Edo State as a gubernatorial candidate”.

Moreover, the secretary of the Publicity Committee said that “it is only a desperate, depraved and decadent individual, who like a sick dog, shamelessly go back to his vomit that would associate with a character he publicly exposed as a thief and a fake pastor, just for selfish reasons”.

According to him, “the ousted APC chairman needs to be reminded that his approach of standing logic upside down cost him his position in Abuja. It is manifestly clear that Oshiomhole will, once again, fail even in this new vocation.”

“We counsel Oshiomhole to stop referring to God because the people of Edo State know that God, in his holiness, cannot stand with betrayers, who have soiled their hands by dining with the devil on the table of corruption.”

The Ekiti State Government has revealed that its security network, the Amotekun, would deploy ancient, local and modern security techniques to ward off kidnapping, robbery and other heinous crimes from the state.

The Ekiti State Corps Commandant of Amotekun, Brigadier-General Joe Komolafe (Rtd.) disclosed this on Thursday at Efon Alaaye during a sensitisation tour to Ekiti West, Efon Alaaye and

of the State.

Brig-Gen Komolafe (Rtd) explained that the security outfit would employ ancient Yoruba tactics of securing territories and fishing out criminals from their hide out.

Komolafe cited the neglect of traditional culture and patterns of exposing criminals as one of the reasons for the rising spate of crimes in the region and charged traditional rulers to deploy their supernatural prowess to secure the lives and properties of their people.

as a force of liberation and assured that the security outfit would protect the people of the Southwest from invaders who had constantly constitute threat to the safety of the region.

Komolafe said: “We want people that can enter the bush and give us native intelligence about criminal hide outs.

“People before us rose and fought invaders. We also want to rise and fight invaders. These invaders came with all forms of impunity; they kill, maim, rape and destroy people’s farm

Earlier, the Chairman of Ekiti State Amotekun Board, Mr. Akin Aregbesola, explained that the tour was to sensitise the traditional rulers on the critical roles they would play in recommending applicants into the outfit.

Aregbesola disclosed that the application into the security outfit was open to all within the ages of 18 and 60 irrespective of their religion as long as they are indigenes and residents of their local governments.

Court Restrains Nwafor from Parading Himself as Imo APC Chairman Alex Enumah in Abuja

APC, (3rd defendant).

An Abuja High Court has granted an injunctive order restraining Mr. Daniel Nwafor from parading himself as the Chairman of the All Progressives Congress (APC) in Imo State.

Justice Othman Musa granted the order on July 16, 2020, while ruling on an exparte application by the APC against his judgment of 2018 in the suit filed by Mr. Evan Enwerem against the APC (1st defendant); Mr. Adams Oshiomole (2nd defendant) and Mr. Daniel Nwafor, Imo State Chairman of

However, the APC is seeking “an order for unconditional stay of execution /enforcement of the judgment of the court delivered on August 14, 2018, pending the hearing and determination of the appeal filed by the APC against the said judgment.”

The APC also sought an order restraining Nwafor’s agents, messengers, privies, representatives, and/or any person(s) acting pursuant to the 3rd defendant as the Imo State Chairman of the APC,

thereby giving effect to the said judgment of the court delivered on August 14, 2018, pending the hearing and determination of the appeal filed by the party against the said judgment.

A copy of the order of the court dated July 16, cited by judiciary correspondents on yesterday, disclosed the grounds upon which Justice Musa granted the restraining order.

The court noted: “The 1st defendant/ applicant has filed a notice of appeal which raises serious and triable questions of territorial, substantive and

procedural jurisdiction of the court to entertain the suit.

“The 1st defendant /applicant disclose substantive and recondite issues of misapplication of which go to the root of the matter.”

Therefore, Justice Musa held that he was minded to grant the restraining order because it was incumbent on his court to preserve the Res in the case in order not to foist a faith accompli on the Court of Appeal and/or render it’s eventual decision on the appeal before it nugatory.

10

TUESDAY JULY 21, 2020 ˾ T H I S D AY

NEWSXTRA

Gunmen Kill 24 Villagers in Kaduna John Shiklam in Kaduna Gunmen suspected to be herdsmen, on Sunday night invaded Kukum -Daji village in Kaura Local Government Area of Kaduna state, killing 24 people.

The bandits were said to have stormed the community at about 10p.m when the villagers, mainly young people, were still celebrating a wedding that was conducted earlier in the day.

A community leader in the area who spoke on condition of anonymity said the bandits came in a convoy of motorcycles and opened fire on the crowd.

He said 16 people were killed on the spot while several others were declared missing.

He added that over 32 people sustained serious injuries and were taken to Throne Room

Hospital, Kafanchan; St. Gerald Hospital and Barau Dikko Specialist Hospital, both in Kaduna.

According to him, eight of those taken to the hospitals later died.

He said after the wedding, the youths celebrated into the night when the bandits came.

“The attack took place around 10p.m and lasted for about an hour. The herdsmen came in a convoy of motorcycles and they were armed with guns.

“We had a wedding earlier in the day and the youth continued with celebrations into the night. They opened fire and killed 16 people on the spot, 32 others were seriously injured and rushed to Throne Room Hospital, Kafanchan; St. Gerald Hospital, Kaduna; and Barau Dikko Specialist Hospital, Kaduna. ”I am made to understand

that eight of those taken to the hospitals have died.

“As I am talking to you, everybody here is enraged by this attack. People are not happy. It is raining heavily here but a large number of people are out in the rain weeping over this wicked act,” he said.

Speaking further, he said “the government and security agencies have failed us. We

don’t know where to go; we don’t know who to believe in. It is the constitutional responsibility of government to protect lives and property, but this government has failed us woefully.

“People are asking why government allows herdsmen to move about freely with guns to kill people? Since the government has failed in

tackling these killers, we should be allowed to also carry arms like them.

“I swear if these bastards know that we also have guns to defend ourselves, they will not just walk in and kill us like animals and walk away scot free. ”So I am using this medium to appeal that since government has failed in its responsibility

to protect its citizens from criminals, we should also be allowed to carry arms like them to defend ourselves.”

When contacted by THISDAY, the Spokesman of the Kaduna State Police Command, Mohammed Jalige confirmed that the attack took place but could not confirm casualty figure.

I NDICTING S ELF , A KPABIO S AYS NDDC C ONTRACTS W ENT TO N’A SSEMBLY M EMBERS When asked by the committee how much the commission has received since the interim committee was set up, Pondei explained that the commission was getting about N6.4 billion monthly, which he said stopped in June, totalling N72 billion since the interim committee was constituted.

He added that the commission had received some payments from oil companies, but it was little.

On whether the N641 million paid to Clear Point Communication was budgeted for in 2019, Pondei stated that the money was part of the N2.5 billion for the forensic audit in the 2019 budget.

He added: “In the budget, there was a proposal for N2.5 billion for the forensic audit, out of which N1.2 billion was approved and out of that, I think N318 million was approved for the lead forensic auditors and only a small percentage has been paid out before the budget expired on December 31st. The N641 million was paid to Clear Point for a variety of purposes all related to the forensic audit.

“There are 185 local government areas and each of them was budgeted for N3.46 million, allowances for coordinators in the local government area, training for the coordinators, setting up of information desk. These coordinators are for people to identify the sites of all the projects in the area.”

Asked by the committee why he and Mr. Cairo Ojugboh allegedly paid scholarship fund into their personal accounts, Pondei noted the money was presently being processed.

He, however, stated that the forensic audit was ongoing, noting that the NDDC doesn’t have control over the forensic audits, as his job is only to provide enabling environment and requisite documents.

It was at this stage Pondei slumped and was rushed out of the hearing.

However, the NDDC blamed poor health for Pondei’s fainting spell.

Director of Corporate

Affairs of the commission, Mr. Charles Odili, in a statement in Abuja, said his health deteriorated during the hearing.

“The commission wishes to disclose that Prof. Pondei has been ill for the past two weeks.

This morning, his condition deteriorated, and his doctors advised against attending the hearing.

“However, he ignored his doctors’ advice because of the realisation that his traducers will use his absence at the hearing to soil his name and reputation.

“He thought he could make it through the hearing and take care of his health later. As it turned out, his doctors were right. Prof, Pondei is in a stable condition at a clinic in Abuja,” the statement said.

Earlier, the committee Chairman, Hon. Olubunmi Tunji-Ojo, had stepped aside as head of the investigating team, following an allegation by Pondei that he is an interested party.

Pondei had on Thursday walked out on the committee, and accused the committee chairman of corruption.

Pondei’s Collapse Underlines Weight of Corruption, Says PDP Meanwhile, the PDP yesterday said the ‘dramatic collapse’ of Pondei further underscored the weight of corruption that has bedeviled the APC-led administration.

The PDP said it was obvious that he collapsed under the weight and shame of overwhelming collective guilt brought on him by the exposure of massive corruption being perpetrated by NDDC officials and APC leaders.

A statement by the National Publicity Secretary of the PDP, Mr. Kola Ologbondiyan, said it was revealing that Pondei could go no further in the face of scathing revelations of direct pillaging of resources meant for the development and welfare of the Niger Delta people, adding that Akpabio also stands accused.

CONGRATULATIONS...

L-R: Secretary to the Government of the Federation, Mr. Boss Mustapha; a newly promoted Assistant Superintendent of Police, Aisha Abubaka; and Inspector General of Police, Mr. Mohammed Adamu, during the decoration of 10 newly promoted senior police officers at the Force Headquarters in Abuja...yesterday.

CBN Engages Experts to Evaluate N67bn Health Research Proposals James Emejo in Abuja The Central Bank of Nigeria (CBN) yesterday inaugurated a Body of Experts (BoE) for the Healthcare Sector Research and Development Intervention Scheme (HRDIS).

Secretary to the Government of the Federation, Mr. Boss Mustapha performed the inauguration of the body, which is chaired by the Director General, National Agency for Food and Drug Administration and Control (NAFDAC), Prof.

Mojisola Christianah Adeyeye at the CBN headquarters, Abuja.

Speaking at the ceremony, CBN Governor, Mr. Godwin Emefiele said till date, over 20 applications had been received requesting for N67 billion worth of funds to participate in the health sector research initiative.

He said the BoE is expected to review and evaluate submitted research proposals as well as provide recommendations for financing the identified R&D

proposals.

According to him, attention will be paid to research projects with high potential to contribute to the development of the Nigerian vaccines that will help curb the spread of infectious diseases.

The apex bank boss stressed that all submissions will be subjected to strict scientific and empirical scrutiny considered to be the best in class, adding that the programme is directly in conformity with the bank’s

resolve to diversify the economy and be a catalyst for job creation and facilitate inclusive economic growth.

He said the intermediate objective is to boost domestic manufacturing of critical drugs and vaccines to ensure their sustainable domestic supply and reduce the bulk manufacturing costs of the drugs, herbal medicines and vaccines in the country.

AGF Opposes Bail Application for Alleged Pirates The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), yesterday appealed to the Federal High Court in Lagos not to grant bail to 10 alleged pirates, who are being tried for hijacking a fishing vessel, named FV Hai Lu Feng II, belonging to Haina Fishing Company.

The defendants were arraigned on July 13 before Justice Ayokunle Faji.

The defendants are: Frank Abaka, Jude Ebaragha, Shina Alolo, Joshua Iwiki, David Akinseye, Ahmed Toyin, Shobajo Saheed, Adekole

Philip, Matthew Masi and Bright Agbedeyi.

Through their counsel, Omoniyi Aruwayo, Monday Mawah and Joe Nwokedi, they applied to be granted bail.

The defence team told the judge that since the prosecution had already called three out of its four listed witnesses, there was no risk that the defendants would compromise the prosecution’s evidence or witnesses if released on bail.

Further, the defence team urged the judge to consider that

the defendants spent about one month in the custody of the Nigerian Navy before they were charged and arraigned in court.

They also told the court that the defendants had no previous criminal record.

But the prosecuting counsel for the federal government, Laraban Magaji, opposed the bail applications.

Following arguments between the two sides, Justice Faji adjourned till July 28 for a ruling.

In the charges, the prosecution told the court that the defendants

“while armed with weapons, committed an illegal act of violence against the crew on board FV Hai Lu Feng II, a fishing vessel belonging to Haina Fishery Company, by putting them in fear in order to take control of the vessel.”

The prosecutor said the defendants committed the offence in May this year on the international water at Abidjan, Cote D’Ivoire, thereby violating Section 3 of Suppression of Piracy and Other Maritime Offences Act 2019 and were liable to punishment under Section 2 of the same Act.

FG Restates Commitment to Police Reforms IG: 41, 863 personnel promoted since January, Kingsley Nwezeh in Abuja The federal government said yesterday it was committed to ongoing police reforms aimed at improving the efficiency and effectiveness of the force.

This comes as the InspectorGeneral of Police (IG), Mr. Mohammed Adamu, said 41, 863 officers and men were promoted to the next rank as a way of motivating the work force.

Speaking during the decoration of 10 newly promoted senior police officers at the Louis Edet Police

Force Headquarters in Abuja, the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, said government was committed to delivering an efficient police force.

He assured “of the federal government’s commitment to the ongoing reforms of the Nigeria Police Force by the Inspector General of Police”.

The decoration ceremony comes on the heels of the recent promotion of 6,601 personnel of the Nigeria Police Force including one DIG, four AIGs, three CPs,

three DCPs, 8 CSPs, 607 SPs, 206 DSPs and 5,769 ASPs. The SGF congratulated the newly promoted officers and charged them to see the promotion as a call for improved services to the nation.

In his remarks, the IG affirmed that since his assumption of office in January, 2019, a total of 41,863 officers and men of the force across different ranks were promoted to their next rank.

He stated that the promotion exercise was a strategic management approach directed

at motivating the workforce in addressing current and emerging internal security threats.

He said the exercise “has been guided by the principles of seniority and merit and reflective of records of discipline and invaluable experience”.

Adamu, while congratulating the officers for their well- deserved elevation, charged them to deploy their intellect and demonstrate sound professional judgment in all their decisions at all times.

TUESDAY JULY 21, 2020 • T H I S D AY

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T H I S D AY ˾ TUESDAY JULY 21, 2020

POLITICS

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

A Presidential Ambition Under Pressure Bola Tinubu’s ambition to be the next president of Nigeria has been heating up the polity.

Segun James takes a look at the man, his politics and the opposition to his dream

L

agos State has defied the calculations of many political pundits since 1999 as voters continue to accept whoever one man throws at them. Welcome to the world of Senator Bola Ahmed

Tinubu.

He is adored with unrivalled reverence by not just the political class but also the voters in Lagos. Today, he is unarguably one of the political leaders who have created an empire and a cult-like following around themselves.

A defining feature of the Nigerian political system in the past 20 years is an unprecedented accumulation of political leaders who refused to retire. There lies a benign paradox at the heart of Nigeria’s approach to politics, it is far more devout than other countries in the continent.

The most important change in Nigeria in the last 20 years has been the successful change from one government and party to another.

The first time such activity will take place in the almost 60 years of its chequered history as a nation.

Another important political landmark beckons with the 2023 national elections.

It is fashionable to lament the vapidity and short-termism of the Nigerian political system; but without it, it is argued, Nigeria would have gone the way of many an African countries with one man ruling forever.

This was exemplified by the change from one government and one party to the other in 2015, even though a leader of the then ruling Peoples Democratic Party (PDP) had boasted that his party would rule for the next 60 years.

Nigeria brims with colorful politicians whose showmanship cannot be equated. Among them, Tinubu, the famed national leader of the All Progressives Congress (APC) is in a class of his own.

Tinubu first tasted power as a senator between 1992 and 1993. He swept into fame during the time of NADECO as one of its leaders in exile. But his true worth became visible when he became the governor of Lagos in 1999. From that position, he projected himself to the leadership of the Yoruba nation, much to the chagrin of his enemies. But it is his sagacity that has kept him in political relevance since.

To a lot of Nigerians, both friends and foes, Tinubu is one man who must be respected or locked down, depending on the political divide you belong to. And if the truth be told, he is set to play another big role in 2023, but from all indications, it will surely be at a cost.

For over two decades, with a soft voice, he has held Lagos with an iron fist. As Governor, he survived the onslaught of Chief Olusegun Obasanjo as President who greatly decimated his them party the Alliance for Democracy (AD), leaving him as the only governor standing in 2003 out of five.

In the midst of these, he pursued his own economic and political agenda and strategy, keeping Lagos from being dependent on allocations coming from the federal purse, to the chagrin of Obasanjo who had vowed that winning Lagos was a “do-or-die”.

Under his watch, Lagos prospered from generating N600 million in Internally Generated Revenue monthly as at the time he took over to making over N7 billion monthly by the time he handed over to his successor in 2007.

He frustrated Obasanjo so much that he called the presidential bluff when the President refused to release local government council funds over the creation of new councils areas by the state government.

This view was not in itself unusual, but what made it remarkable and formidable, were the clarity, elegance, intellectual power and street sense with which it was carried out. Hence, he weathered the storm created by Obasanjo for which the former President never forgave him till date.

By 2023, Tinubu will be 71 years. He would not be the oldest Nigerian to contest the presidency, but he will be one of the strings of old men who have been ruling Nigeria recently, assuming he becomes president.

Tinubu

Although the strident call in recent times has been for a much younger man as president, which would be ideal, but some people are determined to ensure that he is not elected. These people are many and formidable themselves.

To his enemies, nothing is more important than seeing Tinubu go out of the political field, which could only be achieved by the unyielding exercise of brute strength. This view was not in itself unusual. What makes it reasonable and formidable are the intellectual power with which they are fighting, but they have met a match in Tinubu.

The first law of diplomacy according to a diplomat, is that “it is not the other side you need to worry about, but your own.” This saying is not lost to Tinubu as he finds some of his supposed loyal lieutenants, blinded by ambition, now betraying him. Hence, he has purged his political machinery, disbanding every group and their associates. It was a clean sweep.

If nicknames marks the measure of a man, then, Tinubu would be a giant. Over the years, he has been called Jagaban, Yoruba leader, APC national leader, the unelected but still continually ruling governor of Lagos state, Enfant Terrible of Nigeria’s politics, the most dangerous man in politics and most endearingly, the Asiwaju.

This multitude of names reflect something of the controversy that has long surrounded the populist radical, who is suddenly the one person that must not be allowed to take power because of his perceived interest in contesting the 2023 presidential election.

Following the routing of his loyalists in the recent crisis rocking the All Progressives Congress

(APC), the believe is that Tinubu may jump ship to another party. Although he has never done this before, except when he left the AD for death with his departure in 2003 to form the Action Congress (AC).

In the Nigerian political field, the gulf between sentiment and reality is thin, very thin indeed.

Politics encourages participants to move across the political divides without emotion. You can go and come back as you pleases. What matters is your interest at any given time.

Examples abound, since 2007, former Vice President Atiku Abubakar has traversed many political parties and returned, all in the bid to actualize his greatest desire of ruling Nigeria.

To the followers of Tinubu, Nigeria is facing a crisis, a crisis of effective leadership. Today, decisions are being made based, sadly, on political dogma. The guiding principles, they insist, that can make a country great - competence, capacity, capability, which will foster innovation, create jobs and provide more economic opportunities for the people have been overtaken by mindless tribalism, policies based on ethnic and religious considerations and unrealistic beliefs while the nation’s competitiveness in the community of nation weakens. This, they reiterated is what Tinubu represents.

If there is one person opposed to the Tinubu presidential project, it is Mr. Yinka Odumakin, the spokesman of the Yoruba foremost sociopolitical group, Afenifere. To Odumakin, Tinubu sold out the Afenifere on the alter of political ambition. He echoes the mind of some Yoruba leaders like Chief Ayo Adebanjo who believe that Tinubu sold the Yoruba people’s porridge

Tinubu has not volunteered any opinion on his political future, and no assessment of where he sees the nation and the economy going; yet he has continued to be the issue in the polity. The history of Yoruba politics in the past 60 years is that of a people who thrive better as opposition.

The coming of Buhari which was principally engineered by Tinubu was the first time the people will participate in mainstream politics. Is Tinubu a de facto leader in the Yoruba political field? That is the question as the nation races towards 2023

to the Fulani in his dream to become president and that he should not be allowed to achieve this dream at all cost.

This was also reiterated by Chief Bode George, a former governor and former deputy national president of the PDP who denied that he is working with Tinubu in his quest to become the president.

“We have nothing in common. Maybe there is a clone body that looks like me. To go and do what with APC? Is that a political party?

I am sorry my Oga is their leader, however, we call Bola Tinubu the leader but we have a president. That doesn’t happen in our own party. The constitution we are running is tied to the American system. The leader of the Republican Party is the President of the United States of America. He (Tinubu) is sitting on a false chair.

“I had always criticised the APC, that it is a political party with strange bedfellows. I come from a solid family in Lagos. My great grand uncle was the first Nigerian politician, Baba Herbert Macaulay. He started the first political party in 1920 something and kept on struggling, going from the north to the east and everywhere trying to pull Nigerians together against the colonial people.

“I came from that stock, what am I looking for that me and Asiwaju, in which corner, which house? In fact we have never made any statement to have a meeting. They should come to let us save Nigeria, we have seen their style of management, we have seen the weakness in their management. We have seen the kind of attitude they have in a political party, it is not a private company.

“That is why we are fighting now in our party so that we don’t drift to that kind of direction, where the party will now be held as a private enterprise, no. Let’s follow the laws of the party, so for me, like I said in our party, we cushioned up and once the governor says look this is the south west zone, of course he is no more the governor today, he is the leader, he is not saying to everybody today that he has the absolute power. But he is the leader and if he can come and say, sir, please lets come down a little bit, correct the ills, ameliorate the pains created by the mistake made at the higher echelon. It is not my private company.”

Today, Tinubu has not volunteered any opinion on his political future, and no assessment of where he sees the nation and the economy going; yet he has continued to be the issue in the polity.

The history of Yoruba politics in the past 60 years is that of a people who thrive better as opposition. The coming of Buhari which was principally engineered by Tinubu was the first time the people will participate in mainstream politics. Is Tinubu a de facto leader in the Yoruba political field? That is the question as the nation races towards 2023.

The mood of members of the APC is changing in the wake of the recent crisis that rocked the party. This may be exemplified by what is going on in Ondo state. This may be a reflection of the mood of the Yoruba people on the political situation in the country.

The Ondo election may be only “local”, but it is being portrayed as a vote on the continuing leadership of Tinubu in Yoruba land and the future of the APC. It is certainly the biggest celebrity contest in the recent history of the southwest region.

A strange atmosphere has enveloped the nation. For the first time in its political-economic history, the nation is experiencing a radical shift - the complete takeover of the political system by the north without regard to the constitutionally sanctioned affirmative action which respects the spread of strategic political offices across the different ethnic nationalities to ensure the continued growth and unity of the country.

To achieve their aim, ambitious southern political leaders like Tinubu must be put in their place. This is the paradox of the Asiwaju’s quest, however lofty.

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T H I S D AY ˾ TUESDAY JULY 21, 2020

POLITICS

Is Sokoto Really the Poorest State in Nigeria?

In response to the latest Nigerian Living Standards Survey report by the National Bureau of Statistics which ranks Sokoto as the poorest state in Nigeria, Chuks Okocha chronicles a steady stream of life-transforming programmes executed by Governor Aminu Tambuwal of Sokoto State

T

he decision of Governor Aminu Tambuwal of Sokoto State to go back home after his impactful tenure as Speaker of the House of Representatives was not mere happenstance. It was a deliberate, well calculated and strategic move to assume the reins of power and tackle headlong the developmental challenges that have for long made his dear state the subject of negative reporting by the media. He felt the time for agonizing was over and that what was needed was well thought through plans and sustained actions to change the negative developmental indices.

On assuming office in 2015 he set up committees to look critically at different sectors. In no time they turned in their reports. Their findings were mind boggling. Virtually all the critical sectors were comatose. The economy was in a very bad shape. Due to paucity of funds and need to prioritize, he identified education, health and agriculture as critical sectors requiring immediate action. He also identified cross -cutting areas/ concerns like poverty alleviation, youth and women empowerment for urgent and sustained attention and action.

Since the submission of the report of the committees and development of an implementation plan by the government, the charismatic, innovative and resourceful Governor has pursued his poverty alleviation policies and programmes with zeal. He has devised many strategies to tackle poverty headlong. No stone has been left unturned. The grassroots are feeling the impact. People are being systematically lifted out of poverty. It is ongoing and sustainable.

In 2017, the state government commenced the distribution of N250m to 25,000 women in the rural areas of Sokoto State. Each of the beneficiaries got a minimum of N10,000 to put into their small businesses.

In April 2017, 2000 women graduated from the specialised entrepreneurship training organised by the state government through the State Zakat and Empowerment Commission. The women, trained in 48 different small scale businesses, were presented with cash grants and other working tools to start their businesses.

Also in April 2017, 350 women and youths graduated from a skills acquisition program organised by the state government under its citizens empowerment initiative.

From 2015 to 2017, the Tambuwal administration created over 27,000 jobs in the agricultural sector. The government supported over 33,000 people through promotion of improved crop production techniques, para-veterinary clinics and women and youth off - farm activities. Similarly, through the community - based agric and rural development initiatives, the government created 27,166 jobs through different interventions on sustainable agriculture, community infrastructure, rural enterprise development, among others.

In June 2017, the Sokoto State Government established an Agency for Poultry Development to enable citizens of the state tap from the potential available in the sector. The agency has been equipping citizens with needed technical expertise to assist them in efforts to maximally benefit from the sector. The target is to engage about two million people in the sector in the next few years and increase production of poultry meat and eggs. This is a practical way of tackling poverty, especially among rural dwellers.

To boost commercial cultivation of select economic trees like Gum Arabic, Moringa, Dates and Shea Tree, the Sokoto State Government in 2017 allocated vast lands to farmers. Governor Tambuwal said this step was taken to encourage individuals to take the lead, make a success of the endeavour and ensure that the benefits gets to as many farmers as possible. “We’re opening up a new corridor in fighting poverty and unemployment. We will support our farmers with improved seeds and technical expertise to ensure the state derives maximum benefits from the venture.”

In February 2017, the state government released the sum of N1.2 billion for the payment of accumulated gratuity from the year 2010 for the staff of local government councils in Sokoto State.

In April 2017, Governor Tambuwal approved the release of six hundred and seventy seven

Tambuwal

million Naira (N677m) for the settlement of accumulated pensions of teachers and local government staff, as well as severance gratuity for former councillors in Sokoto State.

In 2017, the state government, in collaboration with the Nigeria Office of the United Nations Population Fund (UNFPA) trained 100 former VVF patients in cosmetology with a view to empowering them economically. They were taught to take care of hair and skill, do makeup, and produce beauty products like soaps, perfumes/ body spray, disinfectants and antiseptics. After their graduation, the women were given working tools and capital to enable them start their own businesses.

In 2017, 30 women graduated from the Women Skills Empowerment Program (WOSEP) organised by the Sokoto State Ministry of Women and Children Affairs and facilitated by the Industrial Training Fund (ITF). The women were taught modern methods of taking care of hair and skin, new techniques in makeup, and manufacture of beauty products like soaps, perfumes/body spray, disinfectants and antiseptics. At the end of their training, the women were given starter kits and capital to enable them start their own businesses in their various localities.

In 2018 the government procured thousands of units of sewing machines, grinding machines and additional 400 tricycles, known as KEKE NAPEP and distributed them across the state.

Also in 2018, the government distributed 3,500 motorised pasta - making machines for the use of women across the state.

The state government awarded contract for the construction of 250 solar powered water schemes which were sited in rural areas across

the 23 local government councils of the state in 2018. The project which was completed in three months is part of government’s policy of opening up the rural areas and improving the standard of living of the people. The project consists of solar pumping system, control room, distribution system, borehole, 10,000 - litre capacity tank and security fence.

The same year, the state government entered into a partnership with the World Bank for the construction of 500km rural roads across the state. The state government promtly released its counterpart funding. The government keyed into the World Bank’s Rural Access Mobility Project (RAMP) do as to open up rural areas and enhance economic opportunities for rural dwellers.

The year 2018 has been very critical in Tambuwal’s life-changing policies, as it witnessed when the state government provided N500m as counterpart funding to UNICEF for the execution of its projects comprising the cash transfer scheme and other interventions.

In January 2018, Mallam Musa Lumu, Chairman, Gwadabawa Micro Finance Bank, Sokoto disclosed that more than 10,120 families had received government’s N15,000 monthly stipend aimed at enhancing girl-child education. The stipend supports the families’ economies so as to discourage parents from sending their children to hawk. It assists parents to provide kits and other minor demands that would enhance educational pursuit.

The state government collaborated with the Bank of Industry (BOI) to disburse the sum of N2 billion to support small scale businesses in the state. The government did not waste

Governor Tambuwal’s response to the April 2020 Nigerian Living Standards Survey (NLSS) report released by the National Bureau of Statistics (NBS) covering the year 2019, which listed Sokoto State as the poorest state in Nigeria was pointed and thought provoking: “I do not intend to join issues with the NBS, but I appeal to them to come clear on their variable(s) and how they do their assessments of poor states in Nigeria; and then how they arrived at Sokoto being the poorest. We know that, as a matter of fact, that something must be fundamentally defective and wrong with their processes and the outcome of those processes,” Tambuwal emphasized

time in releasing its counterpart funding of N1 billion to BOI. In 2018, the state government introduced additional incentives to Sokoto State farmers in a bid to boost the cultivation of wheat, sesame, garlic and onion in the state. These additional supports are in the form of loans and grants, training of farmers and extension workers in modern farming techniques, provision of free and improved seedlings, provision of fertilizer and pesticides and lease of equipment to boost production.

The state government has spent billions of Naira to subsidize fertilizer for its farmers. This is been done to give agriculture a major lift.

Agriculture is the largest employer of labour and holds the key to taking majority of the citizens out of poverty.

The state government has attracted many investors to Sokoto State. Some have invested in the agricultural sector. The Aliko Dangote conglomerate is in the process of completing a Dangote Rice Factory in Sokoto, a world class rice milling factory sited at Runji village of Kware LGA that will produce 250,000 metric tones of rice. The vast land where the project is sited was allocated by the government.

The state government established the Contributory Healthcare Scheme aimed at putting ownership of healthcare in the hands of the people, especially low income earners.

Since the inception of his administration in 2015, Governor Tambuwal has prioritized and fully funded the Ramadan Feeding Programme.

Under the programme, the poor are guaranteed meals during the Holy Month of Ramadan.

Different strategies are normally adopted to ensure the success of the programme. The Ramadan Feeding was however taken a notch higher in 2020. The Committee headed by the Secretary to the Sokoto State Government, Alhaji Saidu Umar (Mallam Ubandoma Sokoto) adopted a different strategy and implemented the program with uncommon zeal. The committee massively distributed raw foodstuff, including rice and millet, to needy people in 155 feeding centres.

This was a departure from the past when cooked food was distributed to the needy in each of the centres. The needy have been effusive in their praise of the committee’s efforts. In recognition of the excellent work of the committee, Governor Tambuwal mandated it to handle the 2021 Ramadan Feeding Programme.

In 2019, the state government, under its Zakkat and Waqf Scheme, spent N237.9 million to procure and distribute 9,100 bags of rice, bales of clothes and cash to 18,882 orphans and the needy.

In 2020, the government has so far distributed items worth N258.8 million to orphans and the needy under the Zakkat and Waqf Scheme aimed at fulfilling the obligations of one of the key pillars of Islam. The state government allocated the funds to the Zakkat Comission in order to enable it discharge its statutory role of assisting orphans, the indigent and the elderly in all the 23 local governments of the state.

The Tambuwal administration has commenced the distribution of N20,000 each to 1000 citizens (male and female) in every local government of the state. The government set aside the sum of N4 billion for the program. The program was initiated to assist needy people with capital to enhance their businesses and improve their living conditions.

The Sokoto State Government’s management of the palliatives programme in the wake of the COVID-19 pandemic remains a model in Nigeria. It was implemented with a high sense of responsibility, compassion and accountability. There was a design. People of integrity were identified and placed in committees. Sokoto State election polling units were made the distribution centres. Every polling unit had a minimum of 300 beneficiaries.

The committees carried out the distribution of the palliatives in a fair, just and equitable manner. It is an ongoing process/exercise. The people are delighted and have been heaping praises on their people friendly Governor.

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

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T H I S D AY ˾ ˜ Ͱͯ˜ ͰͮͰͮ

COMMENT

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

COVID -19: NEED FOR JUDICIAL RETHINK

A review of the budgetary allocation would enable adequate provision for seamless virtual court hearings, argues Kesiena I.Oghoghorie

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risis has a way of bringing to light what has been hiding beneath the surface. The ongoing COVID - 19 pandemic, the worst global crisis in a century, has exposed the pre-existing fragilities in Nigeria and lay bare the age-long failure and inability to read the room.

The ravages of the pandemic have been all-encompassing, with its economic impact partly sign-posted by the steep drop in the price of oil, Nigeria’s major source of revenue. The situation has left a huge revenue gap, interruption of the government’s revenue projection and leap in the country’s debt profile. The health sector has also been exposed as expectations failed to match abilities, with the agricultural sector experiencing disruptions to supply chains following the interruption of production, distribution and trade of food.

The judiciary was also in the mix as the courts were closed, with criminal suspects kept in custody beyond the constitutionally stipulated periods and civil matters, including commercial issues like arbitration and contractual rights, kept on hold.

Efforts were however made by the National Judicial Council to mitigate the situation by recommending virtual court proceedings for courts.

Heads of courts, at federal and state levels, relying on Sections 254(f), 259 and 274 of the Constitution (as amended), proceeded to make rules regulating the practice for their courts.

The move ignited a debate on the constitutional propriety of virtual court hearings, going by the provisions of Section 36(3) and (4) on the right to fair hearing, especially on matters being heard in “public”.

The National Assembly commenced amendment of the constitution to accommodate virtual court hearings, with the governments of Ekiti and Lagos states filing actions at the Supreme Court.

The Supreme Court finally resolved the constitutional validity of virtual court hearings on July 14, with the Justices holding that virtual sittings by courts is constitutional, empowering judges across the country to conduct proceedings with the practice.

The COVID – 19 pandemic has clearly exposed the fallibility of the Nigerian economy. It has demonstrated that the economy was not built on sand, but on a flood plain which is now being tested against the rising economic sea levels. The water, sadly, is now pouring through the economic defences. The economy would, therefore, need a reset including broadening the scope of economic activities, with proper identification of the changing markets and supportive measures to stimulate investors in the economy, like the recently announced investment plan by Orange, France’s biggest multinational telecommunication firm, expansion into Nigeria. Above all, the sharpest arrow in the quiver would be the enthronement of a stable legal order that would guarantee ascertainable rights in business transactions in the “new normal”.

The pandemic is spiking, thus exacerbating the need for continuous maintenance of the protocol on social distancing. Yet, in compliance with the protocol, the courts would be required to continue to deploy its power of dispute settlement process and inherent interpretative power to deal with disputes likely to arise from individual and corporate rights in a new business environment.

THIS IS THE TIME FOR THE JUDICIARY TO TRANSFORM ITSELF INTO A STRONG INSTITUTION INFLUENCING, SHAPING AND MAKING EVENTS IN THE ‘NEW NORMAL’ SOCIO-ECONOMIC ENVIRONMENT

Virtual court sittings have already been given constitutional imprimatur by the Supreme Court. Yet if the judiciary is to be pivotal in rebuilding the economy from the debris of COVID – 19, Nigeria’s Information Communications Technological capabilities would need to be enhanced. But how?

Internet access in Nigeria, a major plank in the virtual hearing process, is not pretty, with problems ranging from inadequate broadband infrastructure, affordability, language challenges, among others. The plethora of mobile networks is operating with the aid of six under-sea cables. Operated by fixed line broadband providers, they are the connecting link between Nigeria and the rest of the world. It is estimated that Nigeria’s use of these cables is less than 10 per cent, given that the communicating capabilities of numerous number of telecom masts are through low-bandwidth microwave technology, with limited voice call technological reach.

Yet the use of video and other bandwidth, a major component in virtual court hearings, would require fibre optic cables. Upgrade of masts from microwave technology to fibre optic cables by telecom providers is currently ongoing, but the Nigerian Communication Commission (NCC) would need to redouble its supervisory efforts in this area, if Nigeria is to meet the NCC target of 120, 000 Km of fibre optic cables, from its current position of 27, 000 Km. Such efforts would not only help bridge the digital gap in the country, but will also aid the judiciary in ensuring sustainable virtual court hearings. The judiciary would also need to take steps, in conjunction with local and global companies like Google, Facebook, Swift Network and Flobyt, to provide free internet access in the courts.

The parlous state of electricity, another salient requirement in driving the virtual court hearing process, would equally need to be examined. Alternative sources of power generation, including Solar, Inverters, would need to be explored with a view to ensuring stable power supply. In any event, the judiciary will not be able to deploy its saliency in the “new normal”, unless the full panoply of resources is deployed. A rethink of the budgetary allocation for the judiciary would therefore be required, as this would enable adequate provision of the technology required for seamless virtual court hearings; training of the legal community in the use of technology; provision of infrastructural improvements; and acquisition of electrical devices. The installment disbursement of budgeted allocations would also need to be re-tooled, as it would aid adequate planning in the deployment of funds into the various areas required to drive the new realities in the dispensation of justice.

The judiciary, moving forward, would need to hold itself to the higher standards expected as a major player. This is therefore not the time to retreat into the past, cling to the status quo or run for the hills raising a white flag. This is the time for the judiciary to transform itself into a strong institution influencing, shaping and making events in the “new normal” socio-economic environment.

Oghoghorie wrote from Nigerian Law School, Enugu Campus

RICHES THAT DROWN MEN IN DESTRUCTION

Suleiman Barnabas urges leaders to use public money to address problems of poverty and infrastructural development

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iches are good, as they bring comfort, happiness and pleasure to many who have been privileged to possess them.

However, the sources and the pursuit of riches are of special interest to every virtuous soul and society. This is because majority of the evils in our society, namely: fraud, rituals, embezzlement, robbery, contract scam, political violence and all other forms of corruption are caused by the insatiable pursuit of riches at all costs. Little wonder the Holy Bible warns that the “love of money is the root of all evils”!

Thus, it should bother society how its citizens acquire and utilize riches and examine whether or not the society ultimately benefits or suffers, in the end, from the pursuit or acquisition of riches by its people. This is the dilemma that Nigeria is confronting, as the quest for primitive accumulation of riches by an infinitesimal few continue to hurt the masses.

Nigeria remains largely underdeveloped as a result of the massive poverty and unparalleled inequality that characterize this naturally blessed society. The poverty of the many, surely, is the superfluity of the few Nigerians which is today ranked as the country with the highest number of poor people in the world.

Let us examine the causes of poverty in Africa’s most populous country and then go on with the consequences for both the poor and the rich.

There are arguments, mostly academic, on the causes of poverty, but I have chosen to go practical in examining the structural and criminal realities that have pauperised the Nigerian masses, and empowered the few to feed fat on the resources of Nigeria’s commonwealth. So my focus is on how Nigeria’s political class have brought poverty to the Nigerian society because of their quest for corrupt accumulation of riches.

Let me start from the nation’s legislative arm.

Nigeria’s National Assembly members earn some

of the highest salaries and allowances compared to their counterparts in other countries around the world. The reported salary and allowances of a Senator is 36 million naira per month. His/her counterparts in the House of Representatives earn 25 million naira per month. Let us not forget that the majority of the people occupying these chambers are already very rich men by all standards of defining wealth, as they have previously occupied political positions as former governors, legislators at the state level, commissioners, ministers, special advisers to governors and presidents, et cetera. Yet, they must earn fat from the meagre resources of the state to continue to live in opulence, the type that translates to the misery of the poor! But you may not understand the iniquity of this situation until you establish the fact that the ‘un-implementable’ minimum wage in Nigeria is #30,000 per month!

Oh, how the riches of the senators and the house of representative members drown the men and women of Nigeria in destruction and perdition! You ask “why are you not mentioning the executives where the real money is misappropriated?” That is my next point. The majority of the presidents, vice presidents and their uncountable ministers and special advisers, and the governors and deputy governors, and their uncountable commissioners and special advisers and other political office holders (and their wives) since the Fourth Republic have continued to be bad examples on how to become stupendously rich without tangible businesses. Some of them now own private jets, universities, estates, and other multi-billion naira properties across the globe as ungodly ‘rewards’ for being public officials. Their children and relatives, some of whom have never worked, are in unexplainable wealth, with houses in the highbrow areas of the country and overseas.

These types of “riches” drown men and women in destruction and perdition!

In a country where the cost of the seized jewellery

of a citizen, $40 million, could have built the non-existent good schools for the community where the lady comes from explains the reality of the riches that drown men and women in destruction: “for the prosperity of fools shall destroy them”! Or how does one explain a situation where governors who cannot pay the salaries and pensions of workers have billions of naira at their disposal to satisfy their gluttonous political and social appetite that includes egoistic donations, lascivious parties, wanton and licentious holidays, acquisition of vehicles, houses and estates that their legitimate earnings cannot afford. Their flirtatious and wasteful lifestyles, no doubt, explain the extreme poverty of the masses.

This method of acquiring and utilizing wealth, no doubt, leads men and women, poor and rich, young and old, to destruction and perdition!

Now, I turn my attention to the businessmen and women who have made their wealth through hard work. The Nigerian state has a good number of them! But it is for their good to be reminded that they pay their taxes without cheating the country, as the facts suggest they cheat the country wittingly or through the connivance of dubious tax collectors. They should be reminded that they have a righteous obligation to engage in corporate social responsibility activities that would impact on the lives of the very poor that serve them, and those whose lands are explored and exploited to keep their businesses thriving. For example, the mining of coal and other resources in Kogi State by the Dangote Group should have been enough reason to fix the death-trap Okene-Ajaokuta-Enugu road.

Then, the poor and the exploited sometimes make the right decision to take their grievances to the courts in search of justice, but sadly, are often denied the justice they seek, irrespective of the volume and clearness of the evidences they present the earthly lords. And when the reasons for the verdicts of the justices defy legal reason and technicalities,

you can check the bank accounts of the judges to have an insight of how their riches, as revealed through their account statements, lead men and women to destruction and perdition. It is on the strength of these riches that some state governors have emerged against the votes of the masses in the elections. Bandits, killers, thugs, and assassins have been set free with technicalities, paving the way for judges and lawyers to become billionaires both at the bar and on the bench (bar-bench-billionaires)!!

And whilst we ought to have put our hope in our school system to inculcate the right values in our young people, we are faced with the reality that it is actually the platform for the learning of the ills in our societies. It is in the school system that lecturers and educators engage in sex-for-marks and collect bribes to pass students. It is in our schools that grades are allocated on the basis of what students can pay, even if it has to be in the form of buying hand-outs!!

While these riches and the manner in which they are lavished explain the poverty condition of the Nigerian state, it is also important to emphasize the truth that they also lead to the destruction and perdition of those who have these defiled, ephemeral riches.

The on-going Covid-19 pandemic and the destructive consequences for all, both rich and poor, have exposed the perdition that are the consequences of the looting of funds meant for hospitals by government officials and their collaborators. The road accidents that have claimed the lives of Nigerians, rich and poor, testify to the fact of the riches that lead men to perdition and destruction. The insecurity that has made the country ungovernable and fear-stricken, such that the rich and powerful politicians from the North are unable to visit their communities is a witness to the riches that lead men to perdition and destruction.

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T H I S D AY ˾ TUESDAY, JULY 21, 2020

EDITORIAL THE MEASURES AGAINST CORRUPTION Government should adopt a better strategy for the anti-graft war

I

f there is any lesson from the current suspension and investigation of the acting chairman of the Economic and Financial Crimes Commission (EFCC) Chairman, Ibrahim Magu, it is that there is no silver bullet for fighting corruption.

It is also clear that what Nigeria needs are not strong individuals but strong institutions with in-built adherence to the rule of law complemented by effective law enforcement. This is essential to breaking the cycle of impunity in our country.

From the Nigeria Social Insurance Trust Fund (NSITF) scandal that has led to the suspension of the Managing Director and two Executive Directors to the crisis in the Niger Delta Development Commission (NDDC) where the removed Managing Director, Joi Nunieh and the Niger Delta Minister, Godswill Akpabio are trading damaging allegations, it would seem that transparency and accountability have taken flight from Nigeria. To imagine that the country suffers the kind of enormous revenue depletion as being revealed almost on a daily basis while begging for foreign loans to finance its projects REPORTS OF COUNTRIES is, to say the least, WITH SUCCESSES AT lamentable. It is even CURBING CORRUPTION more tragic that HAVE A LONG TRADITION senior officials of this OF GOVERNMENT administration have OPENNESS, FREEDOM only been making complaints to the OF THE PRESS, media, touting figures TRANSPARENCY AND ACCESS TO INFORMATION of the amount of theft in different sectors without proffering any solution to the challenge.

Even as we lament the growing number of corruption cases, it is also evident that they persist because if any measures were taken to combat the challenge, Nigerians are yet to see the impact. With revelations of how hundreds of billions of Naira of public funds end up in private hands, the federal government can only allow the problem to fester at our collective peril. Besides, it is unacceptable that the federal government seems helpless on how to deal with what clearly threatens the

Letters to the Editor

economic well-being of the nation and our national security.

S

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

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TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

Rest In Peace, Tolu

1983: Now In A Cinema Close To You

W

hen you ask the Nigerian politician - what would you like to be when you grow up?

He tells you – I like to repeat history! By the time he reaches majority, not only does he repeat history, he breaks the table, pulls down the house, and is consigned to oblivion.

This is the story of Ondo. The boys in Alagbaka House have enrolled in a fight to finish. Some 14 members of the 26-man State House of Assembly have served the Deputy Governor, Agboola Ajayi with an impeachment notice. A Deputy Governor will again be impeached, for doing no wrong, except exercising his right to freedom of association under the Constitution. Like it is said, when two people are about to fight, pride joins them. These ones don’t care about Zamfara, nor does Adamawa and Bauchi mean much to them. In fact, just like no one could placate those who have now been disbanded in Edo, these ones have sealed their ears to the voice of reason.

It is not difficult to hazard a guess on how this matter will end – It is 1983, and now in a cinema close to you. In 1983, the old Ondo and Oyo States replayed 1964 as a full movie. Ondo in particular was hot. The hubris in both Ajasin and

uccessful enforcement approaches that are supported by a strong legal framework and an independent and effective court system are important to the war against corruption. Closely related to this are reforms that would focus on improving financial management and strengthening the role of auditing agencies. These have provided greater successes in many countries and have achieved greater impact than public sector reforms on curbing corruption. Reports of countries with successes at curbing corruption have a long tradition of government openness, freedom of the press, transparency and access to information.

Access to information increases the responsiveness of government bodies, while simultaneously having a positive effect on the levels of public participation in a country. Government officials constitute the greatest barriers to access to public information in Nigeria despite the Freedom of Information (FOI) law. A situation where agencies of government are not audited as at when due leaves much to be desired. There is hardly any government agency that is audited as at when due.

Audit reports are submitted three to four years belatedly, hence the reports become a mere routine with no effect.

The federal government must distinguish between all the variants of the pervading malaise, so that appropriate strategies for tackling each can be designed and implemented within the broader framework of values reorientation. This will lead to a better society and not just the arrest and trial of persons who have committed various forms of graft that the operating environment subtly encourages and nurtures. Admitting the full scope of corruption and exposing the soft underbelly of extant practices that fuel abuses are necessary preambles to a sustainable solution.

If President Muhammadu Buhari is to fight corruption as he promised, he must deal with the foregoing issues. And he cannot do that when he continues to create the impression that under his watch, there are no consequences for bad behaviour.

Omoboriowo made it such that they just could not see eye to eye. Omoboriowo decamped to the ruling NPN and finally got the power-merchants in Lagos to make him Governor. For days, results of the gubernatorial election could not be released, as the state stood on the precipice.

The moment official results filtered in, Ondo erupted in thick violence and the centre could not hold. It was one of the darkest periods in Nigeria’s political history after wetie. The politicians of the 1983 western region states simply could not be separated from their failings. Their bitter and insatiable pursuit of power was legendary. The common good was roasted just to make them feel like political champions. The fight they lacked the humanity to resolve, was eventually laid to rest by Brig.Gen. Sani Abacha, who on 31 Dec. 1983 announced that the 2nd Republic had ceased to be.

The gladiators in Ondo are a metaphor for the average Nigerian politician. He does a lot of bragging, but never demonstrate political wisdom.

He accumulates years in the corridor of power, but never attains maturity. He mortgages the peoples’ commonwealth, but still cannot be emptied of his morbid greed.

Olusola Babatunde Adegbite, Lecturer, Faculty of Law, Obafemi Awolowo University, Ile-Ife

M

y rooftop is, as the crow flies, circa three kilometres (plus-minus a couple hundred metres) northeast of the runway of the “international” airport at Minna, Niger State. With the lockdown in place these past couple of months plus the ongoing Academic Staff Union of Universities (ASUU) strike, the daily deep drone of a fat-body cammo-painted rotary-wing gunship platform with a forward-pointed antenna-rod never escapes my attention.

This rotary-wing airframe usually comes quite low and quite fast during the last leg of its flying schedule, bearing due north and then banking sharply northwest to touch down at the Minna airport where it is obvious the Nigerian Air Force (NAF) has a special revetment reserved for them.

The speed with which the aircraft commander flies over my rooftop always leaves me wondering that that gunship must be a capable airframe indeed and it must surely be piloted by a brash “young ‘un.” I never imagined that that “young ‘un” was truly a young female pilot, Ft. Officer Tolulope Sarah Arotile. Whilst all sorts of rotary-wing and small fixed-wing aircraft fly in the airspace of Minna as part of a retinue of training schedule obviously linked to the Nigerian College of Aviation

Technology, Zaria, Kaduna State, the gunship piloted by Ft. Officer Arotile seemed to be rigged to fly “annoying” arcs over my rooftop on some days which I personally concluded were days of “no-mission flight-hours accumulation to hone aero-skills” or simply training flights conducted to broke some green aviator. How would I have known that a 24-year old (two years younger than my only child, Joy Ada, who really mourned Tolu’s death) Ijumu girl was co-ordinating these activities?

On some other days, this rotary-wing platform does not fly those constant arcs but sooner or later one can hear that deep drone from far and high above and then one can guess it was “mission-day” against the so-called “bandits” terrorising the Niger East senatorial district; let us all truly identify these “bandits” as Boko Haram-cum-ISWAP-cum-Fulani elements making incursions into the Northcentral states because one of their stocks-in-trade is killing pastors and church members and then burning the church buildings down. On a “mission-day” one thing was a constant and that being that Tolu will bear north on the final leg of her flight over my rooftop before banking to hit the NAF station. R.I.P., Tolu.

Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

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T H I S D AY ˾ Ͱͯ˜ 2020

BUSINESSWORLD

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

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Quick Takes IFAD Promotes Food Security

BUSINESS LAW CONFERENCE

L-R:Chair,Venue/Accommodation,14thannualbusinesslawe-conference, ChristineSijuwade;Secretary,ConferencePlanningCommittee,AdeolaAjayi; Chairman, Nigerian Bar Association-Section on Business Law (NBA-SBL), Seni Adio; Chair, Media/Publicity, NBA-SBL, Theodora Kio-Lawson, and Chair, CPC,OzofuOgiemudia,atthe14thannualbusinesslawe-conferenceheldinLagos...recently ETOPUKUTT

‘Paucity of Funds, Covid-19 Hindering 60% Rural Electrification Target’ Emmanuel Addeh in Abuja The Rural Electrification Project (REA) has said inadequate funding and the current covid-19 pandemic are affecting its target to electrify 60 percent of underserved rural communities in Nigeria.

The Managing Director of the agency, Mr. Ahmad Salihijo, who spoke with PV magazine, an international news medium, said the need to adhere to due process may have also slowed down the objective. But he noted that at least the body had achieved 103,000 connections as at the end of last year.

He also said currently only 58 per cent of Nigerians have access to electricity, with 78 per cent access in urban areas and 39 per cent in rural areas.

Salihijo, explained that an estimated 80 per cent of those with access also use an alternative source of electricity supply,

ENERGY mostly diesel generators, due to reliability concerns.

“REA has achieved significant progress in providing rural electrification, with 103,500 connections as of December 2019. Reaching the 60 per cent rural electrification target.

“However, we have been prevented by a number of factors, including the Covid-19 pandemic, access to sufficient funds, and the need to adhere to due process – like obtaining essential regulatory approvals” he explained.

He posited that Nigeria currently has available grid power hovering around 4,000 MW for over 190 million people and estimated that the Nigerian economy loses $29.3 billion annually due to a lack of adequate power supply.

“Nigeria is estimated to have lost $470 billion in GDP since

2000 due to under-investment in power infrastructure. Rural electrification forms an essential part of Nigeria’s energy strategy. “ This will not only bridge the energy gap across the country, but will also contribute towards providing access to quality education, health care, and economic opportunities, to name a few areas/sectors which rely on power supply to produce effective outcomes” he noted.

According to him, top among the challenges is the capital intensity of electrifying rural communities in the country.

“The average rural dweller in Nigeria engaged in subsistence farming cannot afford the cost of acquiring the components needed to generate electricity that can power as little as a 500 W system.

“This is largely due to the high cost of deep-cycle batteries, which are necessary for an off grid solution. REA has secured

loan facilities, grants and allocations from the national budget, towards attracting private sector investment for development of rural electrification projects.

“Another challenge is the lack of adequate skilled labour. In addition to the federal government, some companies have identified this problem and established renewable energy training academies across Nigeria.

“Lack of good access roads hinders developers from visiting multiple communities at a time, to conduct studies that will assist them in making decisions towards electrifying these communities,” Salihijo noted.

He also listed lack of robust electrification data in Nigeria as one of the problems, noting that this has been overcome by the development of village identification and geospatial enumeration of communities provided by the REA.

NERC Mulls Fresh Measure to Unbundle TCN Chineme Okafor in Abuja The Nigerian Electricity Regulatory Commission (NERC) has indicated its willingness to cede part of the Transmission Company of Nigeria (TCN) to customer groups and market participants in a fresh move aimed at revitalising electricity service delivery in Nigeria.

In a consultation document posted on the commission’s website, the regulator said it was seeking input from key stakeholders on what governance model that could be adopted for the management of the Market Operator (MO) and System Operator (SO) departments which it desires to unbundle from the TCN. NERC explained that the move became necessary to guarantee

ENERGY greater independence for the SO and MO. It stated that previous effort to grant greater independence to both departments considered the operational and financial ringfencing of their functions within the TCN for implementation as one of the early initiatives of the Transition Steering Group (TSG) but that a description of their functions has remained blurred over-time.

It therefore stated that Electric Power Sector Reform Act (EPSRA) 2005 defined that the holder of the SO license would be expected to ensure neutrality and transparency in the management of the electricity grid by strictly complying with the provisions of the grid code

and the market rules as it affects all market participants.

“The SO and TSP licenses are currently bundled under the auspices of the TCN and there are concerns from market participants in respect of possible conflicts of interest on matters that affect the TSP,” said the NERC which also said that the broad functions of the system operator will include enforcement of compliance with grid code and market rules; efficient cost allocation and effective market settlement; non-discriminatory access to transmission assets; and market efficiency and system reliability.

The regulator added that anyone holding the licence would have to draft and implement operating procedures as may be required for the proper

functioning of the power system; undertake system planning of generation capacity and transmission; implement and supervise open access to the transmission system in collaboration with TSP; manage system constraints, emergencies and system partial or total recovery amongst other responsibilities.

In this regard, it explained that: “Stakeholder opinion is being solicited in respect of the following models of granting the SO/MO function greater independence in the NESI: financial and operational ring-fencing of the SO within TCN; the SO may continue to be a part of the corporate entity of the TCN but operating within the rules of the market and in such a manner as to ensure its operational and financial autonomy.

The International Fund for Agricultural Development of the United Nations (IFAD) has announced support for a new project to boost agricultural productivity, improve food and nutrition security and build the resilience of at least 218,000 rural families in Angola who are vulnerable to climate shocks.

In Angola, 50 per cent of poor people live in rural areas and mostly depend on subsistence agriculture. This sector employs 44 per cent of the population and contributes 5.5 per cent to the country’s GDP. Improving small-scale agricultural production, productivity and commercialisation is vital to reducing poverty and improving food security in the rural areas.

The government of Angola has implemented several development projects to revitalise the economy. However, more needs to be done to boost the agriculture sector and provide sustainable livelihoods to vulnerable poor people in rural areas. The country also has a large food import bill: $583 million the first quarter of 2019. Coupled with the decline in oil revenues in 2015-2016 and rising food costs, these factors have impelled the government to start promoting economic diversification. In the context of the COVID-19 pandemic, such steps are more important than ever.

AYM Shafa Congratulates Mele Kayri

The management of AYM Shafa Limited has congratulated the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kolo Kyari and his management on his one year in office. The company in a statement said, Kyari has brought transparency and accountability in NNPC’s management of Nigerian oil and gas revenues and infrastructure.

The company said he also created a conducive environment for teamwork, proficient communication and partnership within and outside the NNPC system.

It also stated that Kyari has achieved a milestone with the release in June 2020, of the 2018 Audited Financial Statement of the NNPC. The oil company further applauded Kyari for doing a good job of managing relationships with stakeholders and the oil-producing communities.

ThechairmanofAYMShafa,Mr.Yakubu Maishanusaidhewaspleased thatduringKyari’soneyearinofficecrudeoilproductionreachedabout 2.3 million barrels per day at a point and the fortunes of the Nigerian PetroleumDevelopmentCorporation(NPDC),thecorporation’sflagship upstream company, also improved. NNPC also executed the NPDC OML 65 project, which generates more revenue and creates jobs in the areas of operation and the country at large.

Promasidor Supports Lagos Food Bank

Promasidor Nigeria limited has donated SunVita cereal to Lagos Food Bank Initiative in support of the government’s effort to providing palliatives to the vulnerable during the Covid-19 pandemic. According to a statement, the three truckloads of SunVita cereal were handed overtotheofficeofLagosFoodBankInitiativeaspartofthecompany’s gesture to the fight against COVID-19.

Making the presentation, Category Manager, Dairy and Cereal Promasidor Nigeria Ltd, Mr. Olayinka Vincent, who handed over the donation to the president of the organisation Mr. Michael Sunbola reiterated the commitment of Promasidor Nigeria Limited to the provision of quality food products to Nigerians.

Accordingtohim,“with2020beingadifficultyearduetotheCOVID-19 pandemic, Promasidor is committed to supporting the government’s efforts at containing further spread of the virus, adding that though the company had initially made contributions worth over N200 million, therearestillgapstobefilledandasaresponsiblecompany,Promasidor is ready to support the government. He further stated that, SunVita cereal is produced from locally sourced grains like Soya and Maize and fortified with Nutri-V, a unique blend of vitamins and minerals that helps children grow smarter and stronger”.

Receiving the donation, President of Lagos Food Bank Initiative, Mr. Michael Sunbola, assured that Promasidor’s goodwill would go a long way towards supporting the vulnerable within the society.

“The Committee called on the government to sustain its efforts at diversifying revenue sources and ensure fiscal prudence” CBN Governor, Mr. Godwin Emefiele

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TUESDAY JULY 21, 2020 •T H I S D AY

18

T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

BUSINESSWORLD

ANALYSIS

Revisiting the PIB Chineme Okafor writes on plan by the federal government to represent the Petroleum Industry Bill which has been ignored for years to the National Assembly for passage

T

he Minister of State for Petroleum, Mr. Timipre Sylva, recently disclosed that his ministry will within two weeks send to the National Assembly a revised Petroleum Industry Bill (PIB) to pass into law.

During an interview on Arise News, the broadcast arm of THISDAY Newspapers, Sylva explained that the government was desirous of sending to the parliament its version of the PIB, adding that its subsequent passage will gain for Nigeria’s oil industry immense investments and revitalisation.

The minister, clarifying the condition of the bill that should go to the parliament this week, noted that its content has remained comprehensive and fit-for-purpose.

“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,” said Sylva during the interview.

He further stated: “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.”

Sylva indicated that the PIB the parliament will get has been reviewed to take in considerable interests of Nigeria, as well as that of other parties in the oil industry.

According to him: “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 stated in a somewhat tone of devotion.

Earlier in the year, Sylva informed that the government’s review of bill had advanced and its passage will happen in 2020.

Speaking then on the back of his ministry’s accomplishments in 2019 which according to him included the amendment and passage of the Deep Offshore and Inland Basin Production Sharing Contract Act and signing of the Final Investment Decision (FID) for the Nigerian Liquefied Natural Gas (NLNG) Train 7 project, Sylva inferred that the government was committed to getting the PIB passed.

“We look forward to delivering on all our aspirations as we remain committed and focused in the New Year,” he said then, to perhaps reinforce the commitment.

The urgency of a reform As confirmed by Sylva, Nigeria has delayed reforms in her oil industry through the PIB for close to 20 years now; today, all signs indicate that the country’s oil industry is burdened by both market and governance failures. Experts spoken to insist the conditions could deteriorate further without needed reforms through the PIB. In September 2016, the Nigeria Extractive

The passage of the PIB offers the opportunity for a fresh lease of life for Nigeria’s oil and gas industry. It is not however enough to pass a PIB, the national assembly must pass a good PIB

Buhari

Sylva

Industries Transparency Initiative (NEITI) released a policy paper titled: ‘the urgency of a new petroleum sector law,’ in which it underlined the need for the country to reform her oil industry.

Nigeria’s oil production then was about 1.805 million barrels a day (mbd), down from the 2.127mbd which was the average production in 2015. NEITI also noted that the sector’s productivity was on a steady decline.

According to it, between 2016 and 2015, the volume of oil produced in the country were 659,137 million barrels (mbbls) and 776,668mbbls, indicating a production fall by 117,531mbbl or 15.13 per cent.

To amplify the import of this, NEITI stated then that: “There has been a steady decline (in oil production) from 2012 to 2016, with the sharpest drop occurring in 2015 and 2016.

Similarly, total crude oil lifting in 2016 dropped by 112,280mbbls from 780,429mbbls in 2015 to 668,148mbbls in 2016, representing a 14.39 per cent decrease.”

This equally had impact on oil revenue with the NEITI stating that in 2012, $62.94 billion was earned but it dropped to $58.08 billion in 2013, and further to $54.56 billion; $24.79 billion and $17.05 billion in 2014, 2015 and 2016 respectively.

It attributed these to the lack of forwardthinking reform in the industry, a condition that the PIB was planned to address.

“Some of the reasons like imprecise rules, excessive regulatory discretion, and the fusion of regulatory, policy and operator roles were first-order problems which in turn created second order causes.

“Others like corruption, lack of transparency and accountability were consequences in a chain of ripple effects, leading ultimately to a severely underperforming economy, loss of benefits to the country, and a largely impoverished population,” the NEITI stated to accentuate its position and fears for further delay on the PIB.

Nigeria, the chief loser In the policy brief, the NEITI pointedly declared that without the PIB in place, Nigeria has remained the chief loser in the scheme of things. It explained that in context, the country had lost enormous value to market and governance failures associated with the old law it uses to run the oil industry.

It called for an end to the delay in passing the PIB into law, saying that: “The process of enacting a new law for Nigeria’s petroleum sector has gone on for far too long, and at enormous costs to the country. More urgency, more clarity and better coordination are needed.”

The agency further estimated that such delay has earned the country an estimated $200 billion loss of potential revenue.

“In the 16 years the process of reforms commenced, and in eight years since the PIB was first drafted, there was no question that the petroleum industry was in desperate need of regulatory reforms.

Passing a good PIB Given the harmonious relationship between the National Assembly and executive, industry experts have therefore expressed hopes that the PIB will this time get a speedy legislative process, and the disagreements which have held it back effectively sorted.

Some of the disagreements which resulted in President Muhammadu Buhari’s refusal to assent to a version of the bill, the Petroleum Industry Governance Bill (PIGB), in 2018 were mostly about regulatory framework, that is, the power of the minister petroleum; ownership and control of the oil resources; host community benefits; environmental concerns; and fiscal regime.

Experts in this regard explained that the harmony both arms of government now enjoy should benefit the bill and give Nigeria’s oil industry a new lease of life.

Stretching back to the period before the life of the PIB, the NEITI noted that the oil sector has deteriorated largely because the laws that govern it are either not sufficient for effective regulation or too outdated to be relevant in today’s global energy environment.

According to it: “For instance the Petroleum Act (1969) was enacted when the country’s economy revolved less around oil and when the global oil market was less competitive than todays. Yet the country has failed to enact laws to adapt to the changing realities in the sector locally and internationally.”

“Relying on rules and methods that were crafted for the market as it was four decades ago is not only a wrong choice, it is a very costly one in reality.

“Inevitably, the cost of failure of policy and regulation to adapt as the industry evolved has left a yawning gap between endowment and performance,” NEITI added.

Similarly, the Programme Manager of the

Nigerian Natural Resource Charter (NNRC), Tengi George-Ikoli, stated in NNRC’s description of a good PIB that it should comprehensively accommodate the demands of all stakeholders.

“A good PIB must ensure that the rights and obligations of the stakeholders in the oil and gas industry are clear and fair. It must clarify the mandate of the regulator and provide for qualifications for staff and members of the regulatory commission,” George-Ikoli stated.

She further said that the NNRC and indeed industry stakeholders expect that the PIB to be considered will adequately take care of oil and gas acreage licensing system in the country.

“Beyond the award of licences, a good PIB also needs to address how the licences awarded are monitored. The PIB must also ensure that the rigours applicable to the award of licenses are also extended in its regulation of the transfer of licences to fresh licenses,” she added.

Additionally, Adeoye Adefulu of the Section on Business Law (SBL) of the Nigerian Bar Association (NBA), advocated during the recent launch of the 2019 Benchmarking Exercise Report (BER) of the NNRC, for the planned PIB to reflect the content of the BER. Adefulu noted that considering that the institutional framework of Nigeria’s oil and gas industry was central to the PIB, having the planned bill reflect the precepts in NNRC’s BER would give Nigeria a precise national strategy for her oil and gas industry.

“A good PIB must ensure that the rights and obligations of the stakeholders in the oil and gas industry are clear and fair; clarifies the mandate of the regulator; provides for qualifications for staff and members of the regulatory commission; designs proper governance mechanisms; provides the regulator with the tools required to achieve its objectives; and mandates mechanisms to enhance transparency in the operations of the regulator,” Adefulu stated..

He further explained that one of the important elements of the anticipated PIB would be the licensing system for the oil and gas industry, adding that, “the NNRC presents a useful framework to assess a good licensing system.

The new licensing system must address the process for awarding oil and gas licences in the first place.”

A good PIB, he stated in this regard would: “Clarify who is responsible for awarding licences; provide a framework for the transparent award of licences; limit discretionary powers in the award of licences; outline the process for screening license applicants; and provide legal backing for periodic license rounds.”

According to him: “The passage of the PIB offers the opportunity for a fresh lease of life for Nigeria’s oil and gas industry. It is not however enough to pass a PIB, the national assembly must pass a good PIB.”

Firm Pledges Support for MSMEs Sunday Ehigiator The MD/CEO of Orange Insurance Brokers Limited (OIBL), Mrs. Janet Ibikunl has expressed the company’s commitment towards supporting micro, small and medium sized enterprises (MSMEs) in the country.

She said this during the inauguration of OIBL office situated at Somolu, Lagos state.

According to her, “One of our targets is to change peoples’ mentality about insurance and also protect micro, small

and medium scale businesses.

“Many people have a wrong perception of the insurance industry. They probably think insurance brokers or agents are not well to do set of people, but with this milestone tower at the heart of such a densely populated area like Somolu, first, that perception would change.

“Also, according to our slogan, ‘we don’t speak grammar when there is claim’, this means that, when you have genuine claims, you are bound to have your compensation. By going through

us, you pass the headache to us, then we run it fir you till you get your compensation. “The area that we are now is in the interior. The grassroots people are here, and we are here to talk to them about the benefits of insurance, because they are actually the people that need insurance the most.”

She added: “Insurance is a value that MSMEs are yet to tap into, and that is one of the things we are here to do. We are seriously concerned about survivals of MSMEs because they are the heart of our economy in Nigeria.

“If their businesses are not protected against risks, then when incidents happen and their businesses are badly affected, they easily go out of business and that consequently affects the country’s revenue generation. So it is very important that these sets of businesses are protected and that is why Orange brokers Insurance is here.”

In his remarks, the Managing Director, LAPO MFB, Dr. Godwin Ehigiamusoe, said the project was aimed at further providing insurance policies to low income earners, “especially micro

and small enterprises.”

According to him, “It is all about the total commitment of saying that, ‘access to finance may not be sufficient to effectively lift ordinary people out of poverty if you do not compliment it with other services such as insurance and health.

“The LAPO Group at the moment has three key institutions that deliver these services. In November 1, 2019, we commissioned medical and diagnostic center in Benin. We capitalized with close to N3 billion.”

19

T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

BUSINESSWORLD

INTERVIEW

Fagbami: Oil Industry Must Adopt Big Data to Survive The Chief Operating Officer of Xenergi Limited and immediate-past Chairman of Society of Petroleum Engineers, Nigeria Council, Mr. Debo Fagbami, in this interview speaks on challenges facing the oil and gas industry due to the outbreak of the COVID-19 pandemic. Peter Uzoho brings the excerpts: How would you explain the historic fall of oil prices in April?

Indeed, global oil price fell below the $0 mark sometime in April this year to somewhere around negative $38 per barrel. The reason was not far-fetched. With COVID-19 in the air, airplanes left the skies and were subsequently grounded meaning the demand for aviation fuel was at an all-time low. Organisations shutdown their premises meaning people were no longer showing up at work and instead working remotely from home, hence nobody was buying gas to fuel their vehicles.

Industries shut down their operations – factories were closed, hence the demand for energy fuel was down and all. The resultant effect of this was that there was an oversupply of crude oil without the commensurate demand to support it and the moment the operators ran out of space in their facilities to produce crude oil into, the pressure mounted on transporters resulting in ocean-going vessels, that normally would deliver crude to the consumption centers, now being used as additional storage for the commodity and it got to a peak point where traders completely ran out of storage and the futures projection showed that sellers were willing to pay buyers to come get the commodity off them. That was the below zero-dollar price tag on crude oil we witnessed in April but clearly that situation has normalised now that crude is trading somewhere around the $40 per barrel mark.

How has the pandemic impacted your work?

Obviously, due to the various protocols required to keep COVID-19 at bay which includes social/ physical distancing, personal hygiene and so on, most companies including mine have effectively shut down their premises and adopted work from home (WHF) strategies for business continuity.

What this means is that majority of personnel now work remotely – mostly from their homes while discharging their regularly duties and tasks. On a personal note, I found out that WFH, contrary to what people would generally think, is much more demanding than being physically in the office.

Your work hours are extremely fluid and endless and you take on more tasks than you normally would. Clearly, distractions are fewer and you tend to be far more efficient and productive than when your physical presence is required at work, though you run the risk of burnout. Interacting with other oil and gas professionals show that this appears to be the general case. On the whole, I feel a lot of organisations, post COVID-19 will be exploring WFH in combination with days in the office as a means of maximising employee productivity.

Can you assess the impact of the pandemic on the oil and gas industry in Nigeria?

First off, we need to look at the global impact of the pandemic as a whole. Asides the devastating toil it has taken on humans – tens of thousands of lives lost, countless job losses, businesses collapsing, the health care systems stretched beyond measure, educational systems down to a screeching halt in most parts save for those maintaining online interactions and the collateral effect on livelihoods that rely a lot on the dynamism of the commercial ecosystem. If we bring it closer home to Nigeria, we see that the global situation is not much different from what we have here, though absence of credible statistical data may still not allow us to know the full extent of the damage being done by the pandemic in our country. Now, the oil and gas industry I dare say, has been a very dominant sector of our economy in terms of economic output and contribution to the GDP and we saw this in the period 2014 - 2016 during the global oil price crash when Nigeria’s GDP fell by a few

embrace competition in a fast paced and highly dynamic environment. Look at Lagos today. The state government has relaxed the restriction on movement due to COVID-19 but almost all the oil companies with offices in the state still require their staff to work from home. The businesses are still operating, meetings still take place and operations in remote field locations are still being coordinated by Lagos based staff working from their various homes. Regarding the economy, opportunities abound for Nigeria as a nation to re-focus and channel the skills and experiences gained in oil and gas over the years into revamping other sectors with potential. Oil and gas is high on safety, planning, project management which are tools you need to grow industries like agriculture for instance. In a post COVID-19 environment Nigeria can transform agriculture from a poverty management or poverty alleviation sector to one that is a business sector driving economic growth and development.

Fagbami percentage points to less than three per cent. It is therefore imperative not to take our eyes off what could happen to the oil industry in Nigeria in the face of COVID-19. Thus far, the impact in Nigeria mirror what is happening globally as far as oil and gas go i.e. we were at some point down to sub- $30 per barrel and now we are looking at the price hovering around the $40 a barrel mark. The reasons for the COVID-19 price slump are not far-fetched – low demand for petrol and petroleum products. All aircrafts are on the ground, they are supposed to be in the air flying.

Most blue-collar workers are now working from home – so demand for petrol in your tank is an all-time low…. personally, I haven’t been to a gas station this month instead I am racking up bills in home internet and data bundles…factories are shutdown, hence demand for power generation has plummeted and the list goes on. Most corporate offices of oil companies have adopted work from home protocol with the exception of the field locations who are working. Presently accessing field locations have severe restrictions and the regulator of our industry, DPR recently came up with guidelines to force oil companies to ensure personnel are quarantined before going to the various work facilities which could be oil rigs, platforms, flow stations, gas plants etc. There has been a recent report of outbreak of COVID-19 in some remote oil installations despite these measures, the thinking is that people are circumventing the laid down process and guidelines. The resultant effect is an industry that is bound to struggle and already companies are weighing their options considering for instance that oil production output is still being met to a large extent despite people working from home or a significant chunk of the workforce not necessarily being productive at this time.

How should government respond to the challenges facing the oil and gas industry as a result of COVID-19?

First, I must commend the government agency responsible for regulating the industry, which is the DPR. They took proactive steps by giving directives to all industry operators, service companies and other related players to abide by COVID-19 protocol. That said, government can still do a lot more, working in partnership with the oil majors – by this I mean the International Oil Companies or IOC’s. First off all, increased testing is a must. Presently personnel are required to spend 14 days in a quarantine location before being allowed to go off to the rig or wherever they are working. If they could be tested and

results available in a matter of days, this will cut down the amount of time spent in quarantine and in my opinion possibly reduce the risk of transmission or community spread. One of our engineers recently tested positive for COVID- 19 while in an isolation bubble after he had spent 12 days there! It is important therefore to keep the oil and gas industry alive and in operation and for this to happen is to ensure that measures are in place to keep personnel safe from infection as well as provide essential personnel that are involved directly or indirectly in the supply chain of the industry the required cover for them to work without interruption and ensure that the entire value chain remains vibrant at all times.

While we all agree with the downside of COVID-19 pandemic, there must be some opportunities. What are those opportunities?

Opportunities abound in the face of the pandemic and I imagine this question is with regard to the oil and gas industry. When we look at the downside of the pandemic, it cuts across four key areas – employees (personnel), companies and/or businesses, the economy and nation building. As far as employees go, there is no doubt that several people are going to lose their jobs and be rendered unemployed in the first instance and eventually a subset would become unemployable. In other words, you not only lose your job, but your skillset becomes irrelevant. Lots of companies are now adopting WFH protocol meaning a reliant on data and online techniques for driving business process.

In our industry we have been a late adopter of bid data, AI and the likes of it, but suddenly in the face of a post-COVID-19 era, this becomes inevitable as most corporations are now riding on the back of data as a fundamental core of what they do. As a result, people need to re-skill and convert their core skill set into other skills of relevance. The role of the traditional petroleum engineer may be replaced by one who is more conversant and adept in data analytics and the likes. What I am saying therefore is that the new normal or next normal for the oil and gas in terms of new hires and recruits would be the likes of computer scientists, programmers and mathematics graduates as they possess the skills required to thrive in a big data or data intensive environment.

People would need to cross train themselves as much as possible to face this new normal. For organizations, it is simple. If you don’t differentiate now and adopt a datacentric strategy, you risk falling flat on your face irrecoverably. The traditional way of business process would very soon be a thing of the past as other organizations

But don’t you think the present situation possess an opportunity to phase out fossil fuel support and usher in an era of renewable energy sources?

I really don’t see how or why low oil price caused by the pandemic or whatever factor for that matter succeed in driving out fossil fuels and necessarily introduce an era of renewable energy sources particularly in Nigeria. For me to explain this, I need to define what the term ‘energy mix’ is. Fossil fuels generate energy and are part of what we consider as the energy mix.

The energy mix refers to the combination of the various primary energy sources used to meet energy needs in a given geographic region. It includes fossil fuels (oil, natural gas and coal), nuclear energy, non-renewable waste and the many sources of renewable energy (wood, biofuel, hydro, wind, solar, geothermal, heat from heat pumps, renewable waste and biogas). These primary energy sources are used, for example, for generating power, providing fuel for transportation and heating and cooling residential and industrial buildings. For each geographic region, the composition of the energy mix is dependent on three factors: the availability of usable resources domestically versus the possibility of importing them; the extent or intended use of the primary energy source or the needs to be met; and the policy choice adopted by the government based on macro-economic factors. In Nigeria, the energy mix is dominated mainly by biomass which accounts for up to 80 per cent of the energy mix, followed by oil and natural gas, then hydropower. With this it means therefore that little or no threat would be posed by renewables on fossil fuels even with the price degradation caused by COVID-19.

What impact will the lending behaviour of financial institutions have on the oil and gas sector with the new reality COVID-19 has brought upon global businesses?

I cannot say with unguided confidence that the lending behaviour of financial institutions have been encouraging as far as the oil and gas sector goes. At best, post COVID-19, I expect it to be business as usual and if there is going to be any change, it should be for the worst perhaps except government wants to intervene by injecting bailout funds to sustain the vibrancy of the sector, considering its importance to the economy. Oil service companies have been stretched beyond limit and despite the tragedy of the pandemic, oil operators are asking service companies to give discounts of up to 40 per cent for their services, meanwhile, they have ongoing loan facilities that the financial institutions are not ready to give them breaks on.

NLNG Denies Alleged Illegal Withdrawal of $$1.05bn from NNPC Peter Uzoho The Nigeria LNG Limited has debunked reports linking its Managing Director, Mr. Tony Attah, in the alleged illegal withdrawal of $1.05billion from the Nigerian National Petroleum Corporation’s (NNPC) dividend account.

NLNG in a statement by its General Manager, External Relations and Sustainable Development, Eyono Fatayi-Williams, said the reports that Attah and the NNPC GMD, Mele Kyari were signatories to an account and have been moving and “squandering” monies belonging to

the company without approval were totally baseless and untrue and should be disregarded.

The statement said: “The attention of Nigeria LNG Limited (NLNG) has been drawn to news reports on the investigation by the House of Representatives into alleged illegal

withdrawal of US$1.05billion from NNPC’s (NLNG) dividend account and allegations that our Managing Director/CEO Tony Attah and the GMD, NNPC, Mele Kyari are signatories to an account and have been moving and “squandering” monies belonging to the company without approval.

“For the purpose of clarity, NLNG wishes to state that the company, as a private limited liability company, duly pays dividends to its shareholders and continues to conduct its business in full compliance with regulations and the laws of the Federal Republic of Nigeria.

A

Dele Adesina, SAN

WEEKLY PULLOUT

Dr. Babatunde Ajibade, SAN

21.07.2020

Olumide Akpata

Who will Lead the NBA in 2020?

2/

21.07.2020

In Impunity, Confusion Breaks Bone I never thought the time would come when I would waste my emotions on being depressed about the state of our country, Nigeria; but, lately, involuntarily, such times (not just one time) have been coming rather regularly. One of those times was last week, on account of the suspension of the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, and 12 of his Directors; and of course, the tragicomic drama/ saga presently unfolding at the Niger Delta Development Commission (NDDC). Sadly, everything is connected to corruption and reckless expenditure. It’s all so sordid - truly an embarrassment, which the whole world is watching - that majority of those who have ended up in positions of authority in Nigeria are not trustworthy, of questionable character, totally unconcerned about the good of people and the roles which they are in office to perform, towards the development of the country - all that they are consumed with, is the illegal amassing of wealth for themselves and their families. Worse still and more mortifying, are the numerous allegations of corruption being levelled against the harbinger of the so-called fight against corruption, Mr Magu. For Nigeria’s sake, I pray that the allegations against him are unfounded, otherwise our already battered image as a country, will be further dented.

How are majority of our Government officials different from the alleged ‘Scammers’, Hushpuppi and Invictus Obi? While they are alleged to have defrauded foreigners, our politicians (Government officials) whom we voted for, or who rigged the elections to get themselves into office under the guise of representing the interests of Nigerians, are also defrauding us.

They are one and the same - Scammers! And, both groups have, over the years, brought our country into disrepute.

Intrigues of the NBA Elections This tradition of fraud, is all intertwined with the upcoming NBA Elections which I spoke about last week. We live in a totally dysfunctional, ultra-materialistic society, where the end justifies the means, no matter the cost. It doesn’t matter how you acquire wealth, position or status - whether you loot the Treasury or re-loot recovered looted funds and assets, or you commit internet fraud, or you break all the rules and rig elections - as long as you achieve your goals, it is quite alright. Why should the NBA be any different? After all, the NBA is not made up of aliens, but of Nigerian people; a microcosm of our larger, warped society.

I will not bother to publish the feedback that I received from our colleagues, about my piece last week on the upcoming NBA Elections, because the sum and substance of the responses were that, even in the face of overwhelming evidence, the ECNBA and the NBA itself, would do little or nothing to right the wrongs and deliver credible elections. The Lagos Branch (which I am a member of) stands accused of manipulating their voters register to exclude those who do not support the candidate that its leadership is rooting for, while the Abuja Branch is also accused of padding their voters register with thousands of voters, all in a bid to rig the elections in favour of the same candidate which the leadership of the Lagos Branch supports.

Again, nothing has been done about the candidate who was caught on audio tape (which went viral on social media and has reached the ears of the ECNBA), flagrantly breaching the 2015 NBA Constitution and the 2020 ECNBA Guidelines, by travelling to canvass for votes in Uyo during the Covid-19 travel ban period, to the extent that he was heard scoffing as he referred to the electronic voting system (technology) which will be adopted to conduct the elections, as the “koko”! What exactly did he mean by that statement, especially as there has been an outcry against the credibility of the electronic voting platform to be adopted in the elections?

It seems that, the ECNBA has only been paying lip service to Lawyers, guaranteeing that it will deliver a free, fair and credible election, as it is obvious that it is turning a blind eye to the obvious discrepancies and anomalies that have so far, arisen. The pertinent question to ask at this juncture is that, would it be illogical to

conclude that an electoral body which fails, neglects or refuses to address such glaring inconsistencies, is as complicit as those Branches who are manipulating their voters registers in this sinister plot to enthrone particular candidates?

What do think, my dear colleagues? As for me, all l desire is credible elections, where the most popular candidates win fair and square - nothing more, nothing less. I really couldn’t care less, whether it is a Senior or Junior Advocate that takes up the mantle of leadership, as long as he/she does so honestly. However, as things stand today, it looks like my desire is nothing more than a pipe dream!

informed of the grounds of his arrest - in short, alluding to the faulty processes (contrary to Section 35(3) of the Constitution). A complaint was brought to me in March - a person who had been charged to court and granted bail by a court of competent jurisdiction, but still, EFCC refused to release him from its custody.

What Mr Magu’s Counsel is complaining about, are some of the unlawful processes which his client adopted as a matter of course as EFCC Chairman. Now that Mr Magu is enjoying a taste of his own medicine - very bitter pill - it is distasteful!

The EFCC and Magu Matter As for the EFCC matter, since I am not a court of law, I cannot decide on the culpability or otherwise of Mr Magu - whether it is a case of the allegations against Mr Magu being trumped up (or in our parlance “corruption fighting back”), or whether there is some veracity in the allegations - it is not my place to judge. However, I do hope Mr Magu is given his constitutionally guaranteed right to fair hearing in accordance to Section 36 of the 1999 Constitution of the Federal Republic of Nigeria (as amended)(the Constitution), and all his other constitutionally guaranteed rights, though he was not that gracious to many, in the execution of his mandate at the EFCC. It is quite ironical, that Mr Magu has now become a victim of the same questionable process which he has been superintending, for the past few years.

I hope that the EFCC and other law enforcement agencies learn from Mr Magu’s travails, that it is imperative that the rule of law is always upheld and due process followed, not just because that is how an effective, transparent system is run, but because the shoe could end up being on the other foot, and the hunter could become the hunted - on the receiving end of their own ‘jankara tactics’ and unjust processes, as is the case of Mr Magu presently.

In December 2018, in my piece ‘EFCC: The Use and Abuse of Bond Persons’, I wrote about how my friend who was invited to the EFCC to respond to a petition, was looking for a surety to accompany him to the interview.

One of my seniors at work then confirmed to me that, honouring an EFCC invitation, is akin to an arrest requiring the invitee to be bailed out by one or two sureties. So much for the provisions of Section 35 of the Constitution, which guarantees our right to personal liberty, subject to the exceptions stated therein, exceptions which do not include an invitation to respond to a petition at EFCC. I was therefore, rather amused when, in a television interview, Counsel to Mr Magu complained about the unlawfulness of his client’s detention for nine days or so, or his not being formally

The NDDC Imbroglio As for the NDDC issue, that is another shameful imbroglio. While students on NDDC Scholarship in the UK are stranded and their school fees remain due and unpaid (we saw some of them speak on a television interview last Friday), the NDDC is alleged to have recklessly spent a whopping N1.12 billion on public communications, N3.14 billion on Covid-19 palliatives for its staff, N790 million on imprest (petty cash) and N85.6 million for travels during the Covid-19 lockdown and no travel period. These alleged expenditures, are only a tip of the scandalous iceberg.

Instead of concentrating on more crucial issues relating to the forensic audit of the organisation and development of the Niger Delta, Nigerians are being distracted with mudslinging between Senator Akpabio, NDDC Minister, and Dr Joy Nunieh, the former acting Managing Director of NDDC. Who cares how many husbands Dr Nunieh has been married to? I’m not aware that marrying multiple times constitutes an offence, unless of course, the previous marriage was not properly dissolved before contracting another one. But, is that the case before the court? In any event, this kind of gender discrimination should be denounced - insinuating that a woman is of questionable character, because she has been married more than once. Would anybody bat an eyelid, if Senator Akpabio has six wives?

Would that be the basis for judging his level of trustworthiness, efficiency or mental stability?

No. So, why should it be the measuring scale for Dr Nunieh, because she is a woman?

As for the Police storming Dr Nunieh’s home last Thursday to arrest her - on what charge?

In Skye Bank Plc v Emerson Njoku 2016 LPELR-40447 (CA), the Court held that, Complainants who wrongly use agencies such as the EFCC and the Police to violate the rights of people, must be made to pay for their actions. Again, I am not in a position to comment on the corruption within the NDDC, and who is at fault or not - the forensic audit, if carried out by accounting/auditing firms of repute, will be in a better position to make those revelations - but for now, those who ordered that misadventure which took place at Dr Nunieh’s

Suspended Acting Chairman of EFCC, Ibrahim Magu

“WHY SHOULD THE NBA BE ANY DIFFERENT? AFTER ALL, THE NBA IS NOT MADE UP OF ALIENS, BUT OF NIGERIAN PEOPLE; A MICROCOSM OF OUR LARGER, WARPED SOCIETY”

house, and those who implemented the illegal act which satisfies all the elements of the offence of false imprisonment - wilful detention, detention without consent and unlawful detention, must be held accountable. The defence of probable cause cannot avail the Police here, as, correct me if I’m wrong, presently, Dr Nunieh doesn’t stand accused of any offence, and was on her way to the National Assembly to testify at a public hearing, in respect of the NDDC. Conclusion The bottom line is that, our country seems to be getting more lawless as the days go by, and the irony is that, it is those in positions of authority, that seem to take the cake in this regard - whether it is Governors flouting the Covid-19 Regulations because they believe that they are VIPs and are therefore, above the law, or corrupt Government officials looting the Treasury with gusto and aplomb, or the Police killing citizens extra-judicially, or politicians and NBA candidates rigging elections.

President Buhari’s call for the investigation of the allegations against Mr Magu and EFCC, and the forensic audit of NDDC, are a step in the right direction, provided that these investigations aren’t just a smokescreen, but are sincerely intended to enhance the fight against corruption and are carried out by people of integrity, so that the outcomes are credible. Since Chapter II of the Constitution, that is, Fundamental Objectives and Directive Principles of State Policy, remains non-justiciable (Section 6(6)(c) of the Constitution), these kinds of investigations, if genuine, can be some form of alternative way of seeking accountability from public officials.

LAW REPORT/3

Whether Use of Arm is Required to Establish Armed Robbery

O Facts

n October 7th, 2001, the Respondent and three other persons, violently robbed a couple (PWI and PWII) in their house.

Subsequently, the Respondent and three others were arraigned before the High Court of Kaduna State, on a one count charge of armed robbery. During trial, the Prosecution called four witnesses (PWI, PW II and two Investigative Police Officers - PW III and PW IV).

The Respondent testified, in his own defence.

While PW II (the husband) alleged that the Respondent and another person broke into their house with the Respondent holding a gun and a torch, and that two other persons were outside shouting and shooting, PW I (the wife) alleged that the Respondent and three other persons broke into the house, with the Respondent holding a gun and a torch.

Further, PW III testified that the Police only recovered a toy gun, and no shell of bullets was recovered from the robbery scene.

At the conclusion of trial, the court found the Respondent and a co-accused guilty of armed robbery, and sentenced them to death. Aggrieved by the decision of the trial court, the Respondent appealed to the Court of Appeal. The Court of Appeal set aside the conviction of the Respondent for armed robbery, and convicted him for robbery instead. The sentence for armed robbery, was also substituted with a sentence of twenty-one years imprisonment. Dissatisfied with the decision of the Court of Appeal, the Appellant appealed to the Supreme Court.

Issue for Determination In determining the appeal, the Supreme Court considered the following sole issue: Whether upon a careful evaluation of the evidence led in this case, the Court of Appeal was right when it held that the Respondent was not guilty of armed robbery but of robbery simpliciter, and therefore, substituted his death sentence with imprisonment.

Arguments Arguing the first issue, the Appellant submitted that the decision of the trial court is within the purview of Section 1(2)(a) and (b) of the Robbery and Firearms (Special Provision) Act, while the decision of the Court of Appeal is not. He contended that, the finding of the Court of Appeal that the Respondent was not armed with firearms or offensive weapon as provided for in Section 1(2)(a) of the Act to make his conduct punishable with death, is not supported by the evidence of PWI and PWII who attested to the personal violence inflicted upon them by the Respondent. The Appellant referred to the definition of firearms in Section 2 of the Robbery and Firearms (Special Provisions) Act, as well as the case of EKE v THE STATE (2011) 3 NWLR (Pt. 1235) 589 at 605–606 amongst other cases, and insisted that the Respondent is liable for armed robbery. He urged the Supreme Court, to set aside the findings of the Court of Appeal.

Responding, to the submissions above, the Respondent contended that the trial court had the duty to ensure that the Prosecution proved all the ingredients of the offence that the Respondent was charged with, beyond reasonable doubt. He stated further that to achieve the task, the Appellant may rely on the evidence of eye witnesses, circumstantial evidence which points irrevocably to the guilt of the Respondent, confessional statement or a combination of any of the three. He relied on the case of ODOGWU v STATE (2013) 14 NWLR (Pt. 1373) 129.

Counsel contended that the trial court was swayed by the evidence of the two eye witnesses (PW I and PW II), to its wrong decision on the guilt of the Respondent. He stated that there was a material contradiction in the evidence of the two witnesses, as to whether or not the Respondent had a gun at all during the robbery. He argued further that, the testimony of PW III who testified that the Police only recovered a toy gun and he did not recover any shell of bullets that PW I and PW II testified that they heard being fired at the scene of the robbery, adds uncertainty to the contradiction. It was also his contention that, in view of the material contradiction in the testimonies of PW I and PW II, the law requires that the evidence of the two witnesses be discountenanced. Counsel posited that the toy gun that was retrieved was neither a firearm nor an offensive weapon, as contemplated under Section 15(1) of the Robbery and Firearms (Special Provision) Act 1990.

He relied on the case of JIMMY v STATE (2013) 18 NWLR (Pt. 1386) 229 and other cases. Counsel urged the court to resolve the contradiction in the evidence of the Appellant’s witnesses in favour of the Respondent, as they are material contradictions.

Honourable Musa Dattijo Muhammad, JSC

In the Supreme Court of Nigeria Holden at Abuja On Friday, the 17th day of January, 2020 Before Their Lordships

Mary Ukaego Peter-Odili Musa Dattijo Muhammad John Inyang Okoro Paul Adamu Galinje Uwani Musa Abba Aji Justices, Supreme Court SC.1000/2015 Between The State …

…

…

…

Appellant

...

Respondent

And Toyin Oray (ACMS Joromi) (M) ...

(Lead Judgement delivered by Honourable Musa Dattijo Muhammad, JSC)

Court’s Judgement and Rationale In determining the appeal, the Apex Court referred

to Sections 1(1), (2) and 15 of Robbery and Firearms (Special Provision) Act, 1990, and defined armed robbery

“THE COURT HAS HELD ARMED ROBBERY TO MEAN AN AGGRAVATED FORM OF ROBBERY, AND THAT SAME MAY BE COMMITTED WITHOUT THE USE OF ARMS......IT IS CERTAINLY NOT THE LAW, THAT THE PROSECUTION MUST TENDER THE WEAPON USED IN COMMITTING THE OFFENCE OF ARMED ROBBERY, FOR THE ACCUSED TO BE RIGHTLY CONVICTED FOR THE OFFENCE”

to mean the unlawful taking of property from another person, with the use or threat of violence. Their Lordships held that, armed robbery is an aggravated form of robbery, and may be committed without the use of arms, relying on the case of AUDU ARUNA & ANOR. v THE STATE (1990) LPELR-563 (SC) and other cases.

For the Respondent to be lawfully convicted for armed robbery under Section 1(2) (a) or (b) of the Robbery and Firearms (Special Provision) Act, the Prosecution must not only prove robbery by the accused alone or in company of others beyond reasonable doubt, but also that the accused or any other in whose company he was at the time of the robbery, was armed with firearms or offensive weapon. Also, he may be convicted if the evidence reveals that the offender himself or while in company of others, injured or used any personal violence on their victim(s) immediately before or after the time of the robbery. Given the definition of armed robbery above, the Supreme Court held that, there was no material contradiction in the testimonies of PW I and PW II, that will make a reasonable tribunal discountenance their evidence.

Further, the Supreme Court held that, evaluation of evidence remains the exclusive preserve of the trial court because of the singular opportunity it has of hearing and watching the demeanour of the witnesses as they testify, which makes the court best suited to assess the credibility of the witnesses. Where the credibility of witnesses becomes an issue, the appellate court is handicapped. However, the Court of Appeal and the Supreme Court have the duty to re-appraise the evidence on record, in order to obviate a miscarriage of justice where the trial court’s findings are perverse.

The perverse decision which the appellate court is duty bound to set side is not one based on evidence, or has evolved following the wrongful application of the law to the facts in evidence - BARIDAM v STATE (1994) LPELR-753(SC).

The evidence of PW I and PW II in this instance, reveals that the Respondent was armed with gun at the time of the robbery. It is also in evidence that the Respondent had used personal violence against PW I who was three months pregnant, and PW II as well. The unambiguous provisions of Section 1 of the Act situates the conduct of the Respondent either by virtue of Section 1(2) (a) because of the gun in his possession or under Section 1(2)(b) for the personal use of violence he applied to the victims just before the robbery. The court is bound to act on the admissible, credible and uncontroverted evidence of parties, as in the instant case – BERNARD OKOEBOR v POLICE COUNCIL & ORS (2003) LPELR-2458(SC).

The lower court appeared swayed by the evidence of PW3, to the effect that neither “firearms” nor “offensive weapon” is retrieved from the scene of the crime, and that only a toy gun was recovered from the Respondent.

It is certainly not the law, that the Prosecution must tender the weapon used in committing the offence of armed robbery, for the accused to be rightly convicted for the offence. Once there is cogent and reliable evidence the court finds authentic and believes in, failure to tender the weapon used in the robbery is not held as being prejudicial to the case of the prosecution. Non-tendering of the gun PW I and PW II testified to have seen with the Respondent or heard others in his company fire at the time of the robbery, is not imperative for the lower court to have based its decision on.

On the submission about the toy gun allegedly recovered from the Respondent, the Supreme Court held that, the toy gun was admitted in evidence merely because of its relevance, as the trial court had adjudged that the exhibit does not have probative value, as same was not tendered in evidence by the Police Officer who retrieved the toy gun from the Respondent who could have enlightened the court about the circumstances surrounding the recovery.

The account given by PW III that it was the toy gun that the Respondent used in the robbery and was recovered from him, is, at best, a hearsay account which the Court of Appeal should not have placed so much value on.

Based on the foregoing, the Supreme Court set aside the judgement of the Court of Appeal, and re-instated the decision of the trial court.

Appeal Allowed.

Representation Abdullahi Yahaya for the Appellant.

Olukayode Adeluola for the Respondent.

Reported by Optimum Publishers Limited, Publishers of the Nigerian Monthly Law Reports (NMLR)

4/ COVER

21.07.2020

Who will Lead

For the Nigerian Bar Association (NBA) Presidency, next week, three candidates have scaled through the hurdles to run in the election, Dele Adesina, SAN, Dr Babatunde Ajibade, SAN and Olumide Akpata. These three candidates have since engaged Nigerian Lawyers, canvassing for votes through the social and main-stream media, espousing their manifestos and their plans on how to administer the NBA for the next two years. While the trio are eminently qualified, Nigerian Lawyers are offered a choice between the three - who is the most trusted, most qualified, most experienced, with the pedigree to run the Association at this critical time, when Lawyers are craving for a reformed, rejigged and revived NBA. THISDAY LAWYER presents two of the three candidates, Dele Adesina, SAN and Dr Babatunde Ajibade, SAN in this interview, and their plans for taking the NBA to the ‘next level’, if and when they are elected into office ‘I Possess the Requisite Capacity’ - Dele Adesina, SAN You are amongst the three candidates that the Election Committee of the Nigerian Bar Association (ECNBA) has cleared to run for the office of President of the NBA. For a professional body that prides itself as Africa’s largest, why do you think Nigerian Lawyers should entrust and place in your hands, the running of the NBA for the next two years? What sets you apart from the others?

Thank you very much. I am asking Nigerian Lawyers to entrust and place in my hands the affairs of the Nigerian Bar Association (NBA) for the next two years, because I see myself as a leader driven by vision, selflessness and determination to make a positive difference.

I possess the requisite capacity, competence, courage of conviction and sound leadership experience to address the problems confronting our Association and our Profession. I believe I am also capable to reposition the Association and make it the conscience of the Nation in practical, pro-active and pragmatic terms.

I recognise that Lawyers are nation-builders, and that Lawyers must exist for the advancement of their society. In this connection, the Association has a responsibility to defend, protect and promote the Rule of Law, which for me, is the basis for sustainable Constitutional Democracy.

I believe it is also the responsibility of the NBA, to preserve and protect the independence of the Judiciary in particular and the Profession in general, through the protection, security and independence of Lawyers and Judges in the practice of their Profession. These are some of what I consider to be the corporate responsibility of our Association, in addition to being the voice of the voiceless and the conscience of the Nation. I believe, and Nigerian Lawyers know that I can reposition the NBA to live up to these expectations.

What sets me apart from the other contestants, is very glaring. First, I have the experience none of the other two has. I have the working knowledge of the Association, far more than the other two. Also, over and above the other two, I have been connected with the activities of the Association for over 30 years and I have served in different capacities, including several specialised committees. I have been Secretary and Chairman of NBA Ikeja, I have been the General Secretary and Life Member of the National Executive Committee (NEC) of the Association, I am also a Life Member of the Distinguished Body of Benchers, the highest regulatory body of the Profession. Leadership is acquired and nurtured. I have over this period, acquired and nurtured leadership that I can bring to the table to address the problems of the Association. Education is good and skill is good but none of these can equal experience.

Experience they say is the best teacher.

What is the focal point of your manifesto?

Other candidates talk about the welfare of Lawyers, and this has been the mantra of every Presidential candidate in at least the past eight election cycles, yet none seems to be specific about how to actualise this.

How do you intend to achieve this?

There is what we call individuality of persons, I am different from any other person. I believe there is a basis, for Nigerian Lawyers to trust me. I was once the General Secretary of the Association as I stated earlier. Whatever items of welfare, such as remuneration for young Lawyers, Group Life Insurance Policy and Mandatory Continuing Legal Education you see on ground today, were put in place by the Executive of 2002- 2004 when I was the General

Mr. Dele Adesina, SAN

Secretary of the Bar, until the sitting President set-up the NBA Welfare Committee under the leadership of Dr. Wale Babalakin, SAN, being a direct response to the demands of Covid-19 pandemic and the provision of the Law Pavilion Digital law Report for Young Lawyers, two institutional welfare programmes that I will continue with.

I recognise that the economic situation compounded by the Coronavirus pandemic and security challenges, have increased the Lawyers’

“FOR ME, LEADERSHIP IS RESPONSIBILITY. RESPONSIBILITY DEMANDS THAT WE SHOW OURSELVES WORTHY OF LEADERSHIP,

BY LIVING BY THE RULES”

anxiety for safety, progress and development. The primary objectives of my welfare programmes shall be firstly, the promotion of the welfare, security and economic advancement of members of the Profession; and, secondly the development, delivery and sustenance of quality services to members, in order to maintain improved living conditions and professionalism. Some of the programmes I will give priority attention to are: a. Establishment of a Professional Practice Support Trust Fund (P.P.S.F): In a determined effort to create opportunities for junior Lawyers to set-up own practice, particularly on basis of partnerships leading to specialisation, junior Lawyers between 1 – 7 years post call shall be entitled to draw funds from the P.P.S.F. subject to repayment within five years. Detailed terms and conditions shall be worked out by the National Executive Committee (NEC); b. I will continue from where we stopped in 2004, the policy to enhance the remuneration/ reward system for services rendered by young Lawyers and review the Legal Practitioner’s Remuneration Fees for preparation of legal documents and instruments; c. I will put in place a pragmatic and functional policy of mentorship, through a National Strategic Mentorship Scheme; d. We shall have strategic engagement with the Nigerian Police, in order to stop incidences of Police brutalisation of young Lawyers and other forms of abuses of Legal Practitioners in the pursuit of their Profession, and take calculated and proactive steps to stop the encroachment of legal services by non-Legal Practitioners, in order to create more jobs and put more money in the hands of our members; e. In order to create jobs and employment

opportunities for young Lawyers, NBA under my leadership will pursue the implementation of the provision of the Administration of Criminal Justice Act (ACJA) stopping the prosecution of cases by non-lawyers in Magistrate Courts; pursue the appointment of Legal Research Assistants for all Judges and Justices of Courts of Record; and seek for the reinvigoration and funding of the Legal Aid Council, to enable it discharge its statutory duties with direct consequences of better patronage of junior Lawyers; f. We shall explore Legal Practice opportunities with ECOWAS institutions, Ministries of Justice and Bar Associations, to expand the frontiers of law practice in ECOWAS sub-region taking advantage of the ECOWAS multi-lateral treaties which permit free trade of goods and services; g. We shall re-strategize the Mandatory Continuing Legal Education Programme, provide comprehensive Group Life Insurance Policy and Health Insurance Policy for Nigerian Lawyers.

The policy of the Professional Practice Stamp and Seal, shall be implemented in accordance with its original conception. The Seal shall be paid for, while Stamp shall be given for free without further payment upon payment of Bar Practicing Fees and Branch Dues.

There appears to be discontent amongst Lawyers, about the relevance of the NBA to them as professionals. Also, the public is fast losing confidence in Lawyers and the justice delivery process in Nigeria. Many now resort to self-help, or simply rely on the Police and other law enforcement agencies to resolve their conflicts. How do you hope to resolve this, if voted into office?

Once the NBA discharges its corporate responsibility to the society well, the trust and confidence of the people will be restored and there will be no need for resorting to self-help which is a highway to anarchy. For me, all we simply need to do, is to critically examine the present position of our justice system and the institutions of State that have to do with administration of justice, highlight the problems and challenges, and pro-actively find solutions to them. In this connection, the NBA under my leadership will drive a Justice Reform Summit of all stakeholders in the justice sector, to critically appraise our justice administration. The Summit will focus on issues such as: a. Delay and Congestion and the workload of Appellate Courts, b. Inadequate budgetary allocation to the Judiciary, c. Allegations of judicial corruption, d. Technological automation of judicial process, e. Appointment of judicial officers, f. Adequacy of remuneration, emoluments and the general condition of service of judicial officers, g. The restoration of credibility and integrity of our judicial system, h. Generally making the judicial system responsive to the expectations of the society.

A recommendation from that Summit, can form the basis for how to achieve impactful justice delivery in our society.

Talking about the relevance of NBA to its members, again, all that we need to do, is for the Association to be alive to the welfare needs of its members, and to take steps for the protection and security of the members. What I stated under welfare above, will be more than enough to remove that disconnect decisively.

It is on the lips of every Nigerian Lawyer that the NBA has lost its glory, and its role as the voice of the masses. To what extent is this assertion true, and what, in your view, can be done to change this narrative?

My answer to this question, can be found in cont'd on page 5

21.07.2020

COVER/5

the NBA in 2020?

“THERE ARE A FEW THINGS, THAT SET ME APART FROM THE OTHER CANDIDATES. THE FIRST AND MOST IMPORTANT, IS MY INTEGRITY. I AM A STICKLER FOR DOING THINGS PROPERLY, AND I CHERISH AND TREASURE MY REPUTATION FOR PROBITY AND ACCOUNTABILITY”

'My Integrity Sets Me Apart’ - Dr. Babatunde Ajibade, SAN You are amongst the three candidates that the Election Committee of the Nigerian Bar Association (ECNBA) has cleared to run for the office of President of the NBA. For a professional body that prides itself as Africa’s largest, why do you think Nigerian Lawyers should entrust and place in your hands, the running of the NBA for the next two years? What sets you apart from the others?

There are a few things, that set me apart from the other candidates. The first and most important, is my integrity. I am a stickler for doing things properly, and I cherish and treasure my reputation for probity and accountability. The second, is the variety of my practice experience, both historical and current. I am an accomplished advocate.

I was elevated to the rank of Senior Advocate of Nigeria in 2007, and was the first member of my Nigerian Law School set of 1989 to be so elevated. I am an accomplished solicitor.

I have been involved in a significant number of corporate, commercial and capital market transactions. I was the pioneer Secretary, then Vice-Chairman and subsequently Chairman of the Capital Market Solicitors Association. I am an accomplished Arbitrator and a Fellow of the Chartered Institute of Arbitrators (UK).

The third, is the fact that I am running for the office of President of the NBA as an independent candidate. I am not sponsored or backed by any of the acknowledged power blocks or “Cabals” in the NBA, and will thus, be able to take independent decisions, and by so doing, bring much needed unity to the Association.

What is the focal point of your manifesto?

Other candidates talk about the welfare of Lawyers and this has been the mantra of every Presidential candidate in at least the past eight election cycles, yet none seems to be specific about how to actualise this.

How do you intend to achieve this?

Welfare is indeed, the focal point of my manifesto.

As I state in the manifesto, there is no dignity in poverty, and I am of the view that it will be difficult for Lawyers to effectively perform the roles society expect of us, if our basic welfare is not attended to. I intend to achieve this, by taking practical and concrete steps. First, I propose that the NBA take steps to ensure the establishment of minimum scales of fees for as wide a variety of legal work as possible, so as to strengthen the earning capacity of the profession. I intend to engage with members of the profession to agree on voluntary compliance with such scales, failing which disciplinary action will follow. I intend to get the NBA to conduct a detailed survey, aimed at determining reasonable minimum remuneration for Lawyers in employment in various parts of the country, taking the varied costs of living and income generating opportunities in the various geographies into consideration. We will propose to issue these findings as recommendations, and devise creative means of encouraging employers to meet the recommended minimum. I propose for the NBA to issue employment guidelines, setting out the minimum terms and conditions that should be contained in a Lawyer’s contract of employment. These are just some of the welfare

cont' from page 4

Dr. Babatunde Ajibade, SAN

initiatives, outlined in my manifesto.

There appears to be discontent amongst Lawyers, about the relevance of the NBA to them as professionals. Also, the public is fast losing confidence in Lawyers and the justice delivery process in Nigeria. Many now resort to self-help, or simply rely on the Police and other law enforcement agencies to resolve their conflicts. How do you hope to resolve this, if voted into office?

After welfare, this is the second issue I deal with in my manifesto. If voted into office, I propose to address this issue, by getting the NBA to agitate for significant justice sector reform.

This will include agitating for increased funding, for the justice sector; increase in the number and quality of judicial personnel; increase in the use of technology; and significant legislative changes, to eliminate as many as possible of the procedural and substantive bottlenecks that give rise to the inefficiencies in our justice delivery sector.

It is on the lips of every Nigerian Lawyer that the NBA has lost its glory, and its role

as the voice of the masses. To what extent is this assertion true, and what, in your view, can be done to change this narrative?

We must situate this concern, in the context of where our society is today. The NBA is not immune, from the many ills that plague our society. Thus, in order for it to regain its lost glory, I am of the view that we need to engage in a significant amount of introspection and self-cleansing. The NBA cannot effectively act as the voice of the masses, if the masses see the NBA or some of its members at least, as part of their problem. To change this narrative, we must re-examine our self-regulatory and disciplinary processes. As the saying goes, “Physician heal thyself”. It is only when the NBA cleans up its own act, that it can regain its lost glory, and I would like to make that happen.

How prepared is the average Nigerian Lawyer for the future, with regard to international trends in the practice of the profession? What role can the NBA play, to ensure that Nigerian Lawyers catch up with their peers globally?

The NBA has a significant role to play, in preparing the Nigerian Lawyer for the future. This will be achieved through training, conferencing, secondment schemes, networking and interaction with colleagues from other jurisdictions. I hold two offices in the International Bar Association, and one in the International Chamber of Commerce Arbitration Commission. These international positions provide me with ready access to and connection with international trends in the practice of the profession, which I will bring to bear as President of the NBA. How clean have you run your campaign, bearing in the mind the rules set out in the 2015 NBA Constitution and the 2020 ECNBA Guidelines?

I have run a clean campaign, doing my best to stay within the confines of the NBA Constitution and the 2020 ECNBA Guidelines.

‘I POSSESS THE REQUISITE CAPACITY’ - DELE ADESINA, SAN

some of the answers I have given to your earlier questions. In 1992, NBA stood against military dictatorship and arbitrariness when Chief Gani Fawehinmi, Femi Falana, Dr. BekoRansomeKuti and two others were detained under the draconian Decree 2. NBA leaders went to court, obtained orders, enforced these orders, and got them out of Kuje prison. In 2002, an NBA Branch Chairman and his wife were brutally murdered in one of the States. NBA rose up like a roaring lion to say, never again. In 2011, NBA came up with a strong position on the side of the masses to say NO! to fuel price increase.

These are just a few examples of the past. All I can say is that, NBA has the capacity and will to regain its voice for the voiceless, and speak truth to power on the issues of State, in collaboration with the authorities in the onerous task of nation building. It will once again take on its responsibility to speak against impunity, arbitrariness, highhandedness, misuse and abuse of power and all forms of injustice in the society.

It will defend and promote the Rule of Law, and the supremacy of our Constitution.

How prepared is the average Nigerian Lawyer for the future, with regard to international trends in the practice of the profession? What role can the NBA play, to ensure that Nigerian Lawyers catch up with their peers globally?

Professionally, I will say that we are prepared.

Technologically, I will say we are not, but we are presently faced with realities because of the Coronavirus pandemic. The days of manual recording of proceedings, are numbered. The days of solo practice are numbered, in preference to partnership. So also, are the days of general practice. Specialisation is fast becoming the order of the day. None of these should be difficult for the Lawyer to attain, with commitment to practice and determination to succeed.

Globalisation in Legal Practice, has intensified transnational Legal Practice. In ensuring that the

legal profession in Nigeria benefits from this development, we must take steps to safeguard the practice environment for Nigerian Legal Practitioners by avoiding a one-sided traffic of foreign legal practitioners to Nigeria, without reciprocal access to legal practice beyond our shores. I think this is where the NBA has to come in, to evolve a policy that will advance Nigerian Lawyers’ professional interest.

How clean have you run your campaign, bearing in mind the rules set out in the 2015 NBA Constitution and the 2020 ECNBA Guidelines?

Thank you very much for this question. I will say without any hesitation whatsoever and howsoever, that I have carried out clean consultations in accordance with the NBA Constitution and the Guidelines of ECNBA 2020. For me, leadership is responsibility. Responsibility demands that we show ourselves worthy of leadership, by living by the rules. I have had course to wonder

whether some of the candidates realise that this is a professional election to elect officers of a professional association to serve the Association and the Profession, and not a partisan politics. Some have disobeyed the Guidelines with impunity. Others have abandoned issues and resorted to mundane issues, assaults and blackmail in a Profession that is noble, learned and honourable. I once contested an election into the Office of the General Secretary of the Association in 2002, and I remember the decorum, the courtesy and the respectability with which the campaign was conducted. I still recall the way the issues identified by the candidates, were articulated at NBA Branch meetings. I was the Electoral Officer of the NBA in 2008; I knew how the election was conducted. We need to understand that leadership is not about wielding authority or acquiring status, it is about service, and in this instance, service to our Association, our Profession and the society, and if we bear this in mind, there would be no contest by force.

21.07.2020

6/

GSI Directives: Did the CBN Get it Right?

In this article, Learned Senior Advocate, Kemi Pinheiro, briefly examines the provisions of the Guidelines on Global Standing Instruction (GSI) (Individuals), considers some of its pitfalls and consequent legal implications, and proffers solutions which will assist the CBN in resolving the identified pitfalls and challenges Introduction

I

n order to facilitate and enhance loan recovery processes across banks in Nigeria, the Central Bank of Nigeria (CBN) recently issued the Guidelines on Global Standing Instruction (GSI) (Individuals). The GSI contains notable provisions on the obligations of a Borrower to execute a GSI mandate permitting a creditor bank to debit any of its bank account in Nigeria, in repayment of the loan facility availed the Borrower. The need for such intervention by the CBN is further evident by the statistics on delinquent loans in Nigeria, as presented by the National Bureau of Statistics which reveals that as at Q4 2019, bank loans to companies stood at N17.19 trillion, indicating a 4% increase when compared to total loan of N15.13 trillion that was disbursed to the private sector in 2018.

Overview of the GSI Guidelines GSI is essentially a mandate authorising recovery of due loan obligations from any and all deposit accounts maintained by a defaulting Borrower with other banks, other than the Creditor bank. The GSI is limited to debt recovery only, and cannot be used to recover any penal charges that may have accrued on a loan.

The GSI Guidelines makes provision for the responsibilities of the Borrower, the Creditor bank, the Participating Financial Institution (PFI), the Nigerian Inter-Bank Settlement System (NIBSS) and the CBN, in making the process of debt recovery through the GSI seamless.

By clause 3.2 of the GSI Guidelines, a Borrower is obligated to ensure that all his/her accounts are linked with Bank Verification Number (BVN) and execute a GSI mandate with clear terms and conditions in either hard or digital copy in favour of the creditor bank, before such Borrower can access a loan from any financial institution in Nigeria.

Interestingly, a joint account to which the borrower is a signatory is also listed in the GSI Guidelines, as an account qualifying for recovery through the activation of the GSI mandate.

Detailed provisions have also been made in the Guidelines for sanctions on a Creditor Bank that wrongly activates a GSI mandate, and for a Participating Financial Institution attempting to shield the account of a borrower.

Legal Challenges and Pitfalls of the GSI Guidelines However, laudable as the GSI Guidelines may seem, it is not without its own legal challenges and pitfalls, which include but are not limited to the following: 1. GSI Guidelines are Ultra vires the Powers of CBN Whilst it is conceded that the CBN has powers as the regulator of financial institutions in Nigeria under the CBN Establishment Act (CBN Act) and the Bank and Other Financial Institutions Act, Cap. B3, Laws of the Federation of Nigeria, 2004 (BOFIA), to regulate how banks carry out banking transactions, it must be noted that the powers of the CBN cannot be applied and/or exercised to control and/or regulate contractual relationships between a person and its bank, by making mandatory provisions for a person to execute a GSI mandate. In this regard, the application of the Guidelines when put to the test of legality, may not stand the test.

To demonstrate this point, a community reading of the provisions of the CBN Act and the BOFIA discloses that, no powers or functions were delegated to the CBN to regulate contracts and/or contractual obligations between a bank and its customer. A loan facility is described in Incorporated Trustees of Diamond Bank Plc &Anor v Ogbonna Leonard Irechukwu & Ors(2018) LPELR-44866(CA), as being a purely civil contractual transaction.

It is the law that a statutory body must in its actions, keep within the limit of the powers donated to it by the enabling law, failing which all such excess acts shall be deemed as ultra vires. See: Borno State &Anor v Bams Investment (Nig) Ltd(2017) LPELR-43290(CA).

Consequently, it is my opinion that, the issuance of the Guidelines to the extent that it seeks to regulate simple contracts between a bank and its customers, as well as make mandatory provision for a borrower to execute a mandate to recover the loan availed from any of its accounts in other banks, is ultra vires the powers of the CBN. 2. Activation of the GSI mandate may constitute a Usurpation of the Powers of Court In making the GSI Guidelines, the CBN seems to have overlooked the provisions of Sections 6(6) (b), 251 and 272 of the Constitution of the Federal Republic of Nigeria, 1999 (as Amended), as it relates to the powers of the court to determine the civil rights and liabilities of a person, in addition to the jurisdiction to determine disputes pertaining to customer banker relationship. Why have I said so? Basically, it is not unlikely in most loan transactions in Nigeria, for the borrower to either dispute the amount of indebtedness claimed by a creditor bank or the indebtedness itself. In that scenario, will it be appropriate for the Creditor bank, armed with the provision of the GSI Guidelines and the consequent GSI mandate to activate same to its own benefit, to appropriate such funds standing to the credit of the borrower in other banks, irrespective of the dispute? I certainly do not think so, as any suggestion in that regard (as would appear the GSI Guidelines may allow), would constitute the Creditor bank as the Judge and jury in its own cause, which in itself, is an infringement of the constitutional rights of the borrower to approach the court, in the determination of his civil rights and liabilities. The Guidelines in my view, attempt to wrestle with the aforesaid constitutional provisions. It will lose that contest.

There are an avalanche of cases that point unambiguously to the fact that, courts guard their constitutional powers jealously and would resist any attempt to erode or any incursion into those powers. They would inevitably, not likely cede their obligations to the CBN or the bankers committee. We do not need Artificial Intelligence, to predict that such powers will not be ceded to the CBN or the Bankers Committee. See

Governor, Central Bank of Nigeria, Godwin Emefiele

Mr. Kemi Pinheiro, SAN

the case of Chevron (Nig) Ltd v IMO State House of Assembly & Ors (2016) LPELR-CA/PH/633/2008.

Similarly, an instruction issued by the Economic and Financial Crimes Commission (EFCC) in alleged exercise of its powers under the EFCC Act to Guaranty Trust Bank (GTB) to freeze the funds standing to the credit of its customer on the basis of an ongoing investigation, was held to be unconstitutional and illegal. In condemning manner in which the instruction was issued and complied with, their Law Lords in the case of Guaranty Trust Bank v Adedamola (2019) 5 NWLR @ PG 30 held that: “The Economic and Financial Crimes Commission has no powers to give direct instructions to Banks to freeze the Account of a Customer, without an order of court; so doing constitutes a flagrant disregard and violation of the rights of a Customer…

It is in the interest of both Government and citizens that laws are respected, as respect for the rule of law promotes order, peace and decency in all societies, we are not an exception.

Our Financial institutions must not be complacent and appear toothless, in the face of brazen and reckless violence to the rights of their customers.”

The point made here is not diminished by the fact that the borrower executed a GSI mandate, because the mandate cannot be construed as granting or conferring adjudicatory powers to the Creditor bank or the CBN, where there is a dispute. See the case of Adedeji v NBN Ltd (1989)1 NWLR (pt.96) 212.

3. Application of the GSI to Joint Accounts Another critical element in the Guidelines that is worrisome, is its application to joint accounts as provided in clause 2.0, without any regard to the principle of privity of contract. It is imperative to state that, the settled position of the law is that a Loan Agreement can only be enforced against a party to it. See: Ebhota & Ors. v Plateau Investment and Property Development Co. Ltd. (2005) LPELR-988(SC).

A joint account is a qualified account to the extent that, any mandate to draw down on the funds therein must be jointly executed by all the signatories to the account. See: Ndoma-Egba v A.C.B. Plc (2012) 2 BFLR pg. 250. Furthermore, the law is also trite that monies in joint account cannot be the subject of enforcement of a court judgement, on the reasoning that such funds cannot be said to be “debt due”.

See the case of Hirschhorn v Evans (1938) 3 ALL ER 491, where it was held that: “A joint account cannot be subject of a garnishee order for debt by one of the parties.”

See also: One Investment and Consultancy Limited v Cham Poh Meng (2016) SGHC 208.

Consequently, the application of the Guidelines to joint accounts would constitute a breach of the right of the non-defaulting party, and render the creditor bank and/or the participating bank liable

in damages.

4. Nature of Contract with other Participating Banks Another major pitfall of the Guidelines, is the fact that it fails to contemplate the mandate an individual borrower/account holder has with the other participating bank. To demonstrate this point, it is important to note that, for every account maintained by a person in a bank, there is an implied confidentiality obligation on the Bank not to disclose any details of the account to any other person.

In most cases, irrespective of any executed mandate, the holder of an account may also specify that his consent must first be sought and obtained, before any debit can be posted to his account. In that scenario, can the Participating Bank lawfully honour a GSI mandate without first obtaining the consent of the account holder, as specified? What then happens where such consent is withdrawn by the account holder?

To appreciate this point, it must be noted that the Guidelines of the CBN, cannot be equated with a law validly passed and made by the Legislature. The implication therefore, is that the Guidelines cannot curtail the contractual rights of a party, as only a law can in appropriate circumstances do so.

It is therefore my opinion that, the application of the GSI Guidelines would not absolve the participating bank from liability arising from a breach of its contractual obligation to an account holder.

5. Injury to the Concept of Juristic Personality Although it appears that the GSI Guidelines seems to be directed only to individuals, assuming it was also directed to limited liability companies, this will, in my view, assault the concept of juristic personality as established in the locus classicus case of Salomon v Salomon & Co Ltd (1896) UKHL 1. This is because the GSI contemplates a situation where the Banks, without first approaching the courts to lift the veil of incorporation as provided for under the Companies and Allied Matters Act 1990, would be able to proceed against individual directors. Whereas, it is trite that the powers to lift the veil of incorporation are vested in the courts. See: Bauchi State Government & Ors v Arewa Ceramics Ltd & Ors (2019) LPELR-47490, Vilbeko (Nig) Ltd v Nigerian Deposit Insurance Corporation (2006) 12 N WLR (Pt 994) 280 I am therefore of the opinion that, an extension of the GSI Guidelines to Companies will injure the principle of juristic personality.

The Way Forward Having identified the legal challenges and pitfalls that may negatively impact on the application of the GSI Guidelines, it is necessary for me to make recommendations which I believe would save the banks and other financial institutions, from the looming barrage of litigation that are likely to result from the application of the GSI. Firstly, I am aware that there is currently an Insolvency Bill at the National Assembly. It is therefore my recommendation that, rather than issue Guidelines such as the GSI Guideline in bits and pieces, the CBN should support the Legislature in fast-tracking the enactment of the Insolvency Act. It is also suggested that, a provision can be included giving powers to the Banks to approach the court for interim attachment of funds of a borrower, which will be similar to the provisions in the EFCC Act. This is what is obtainable in other jurisdictions such as India where the Insolvency and Bankruptcy Code was recently passed in 2016, and the United Kingdom Insolvency Act of 1986. See also the Insolvency Act 24 of 1936.

Secondly, the CBN must rejig its supervisory role in the approval of loans by financial institutions. This is because most loans have remained non-performing, due to the failure of bank officials to comply with required standards of due diligence, especially collaterisation before the grant of such loans. Also, a robust disciplinary process with commensurate sanctions must be put in place, for erring banking officials who fail to apply the standard procedure of due diligence. I will suggest that such process should include an advertorial of the findings made against the erring official, to serve as deterrent to others.

In conclusion, it is well noted that non-performing loans have far reaching implications on the economy of the country, however, the regulators such as the CBN must be mindful not to create a bigger challenge for the financial sector, by the implementation of policies which may occasion needless protracted litigation and claims for financial compensation, for wrongful activation of a GSI mandate.

‘Kemi Pinheiro, SAN, FCIArb, FIoD, Founding Partner, Pinheiro LP

“ANOTHER CRITICAL ELEMENT IN THE GUIDELINES THAT IS WORRISOME, IS ITS APPLICATION TO JOINT ACCOUNTS AS PROVIDED IN CLAUSE 2.0, WITHOUT ANY REGARD TO THE PRINCIPLE OF PRIVITY OF CONTRACT”

21.07.2020

NEWS/7

EFCC Allegedly Investigating Cyber Crime Offences Against Mompha Peter Taiwo

Justice Mohammed Liman of the Federal High Court, Ikoyi, Lagos, requested that the Economic and Financial Crimes Commission (EFCC) defends it actions in relation to withholding some properties belonging to Ismaila Mustapha a.k.a Mompha. This was brought to the notice of the court by the defence counsel Gboyega Oyewole, SAN in

an application dated July 6, 2020, citing some valuables of the Defendant, such as five wristwatches, one Apple Air Pod, one iPhone 8, and one pair of sunglasses were not returned to him with other items Reacting to this, Prosecuting counsel for the EFCC, Rotimi Oyedepo, told the court that the reason for not returning the items highlighted by the defence counsel, was due to

the fact that these items are currently under investigation in relation to cyber crime offences.

"My Lord, if the properties are given to the Defendant, it would affect the investigation which we have not even called the Defendant into, in relation to this. Witnesses whom may have been affected in the United States of America in relation to this, are still being interviewed.

President Buhari Must Offer Cogent and JustiďŹ able Reasons for RebufďŹ ng NJC List of Judicial Nominees Access to Justice In March 2020, the National Judicial Council (NJC) nominated 33 persons for appointment as Judges of the High Court of the Federal Capital Territory. And on Tuesday July 9th, 2020, the Nigerian Senate read out President Buhari’s UHTXHVW IRU WKH FRQĂ€UPDWLRQ RI the appointment of 11 Judges of the High Court of the Federal Capital Territory, following a letter written to that effect. In other words, the President decided not to appoint 22 out of the list of 33 nominees, forwarded by the NJC. No reasons have been given by the President, for doing so.

The President’s “Cherry-Pickingâ€? from the list forwarded by the NJC Only a third of the names forwarded by the NJC to the President were appointed by the latter, amidst controversies over the way the NJC selections ZHUH FRQGXFWHG LQ WKH Ă€UVW SODFH When the President cherry-picks those he will appoint from a list submitted by the NJC, this raises important concerns of judicial independence, particularly when there are no explanations justifying the selection. Those concerns arise, because of the huge potential for misusing the power to make appointments. That power can be used to blackmail, coerce, extort, or obtain a quid pro quo from the Judiciary, or may otherwise be used illicitly, in a manner that ultimately undermines the independence of the Judiciary.

It may be noted that, the President is not reported to have raised any objections to the list since it was submitted to him

in March 2020. This is not to say there were no grounds for reproving the recruitment process leading to the submission of the list, or the list itself. But, if WKH 3UHVLGHQW ZDV QRW VDWLVÀHG with the composition of the list, or the process leading to it, he had a duty to be transparent about his objections to the list, and to publicly state them. This is inferable from the notion of the Judiciary’s independence, in the conduct of its own affairs. If this were not so, the President could permit improper motives to govern the choices he makes on judicial appointments, and be wholly unaccountable over his decisions.

President’s Selection Decisions lack Transparency, Disrespects Judiciary and threatens Judicial Independence The President’s appointment of a downsized number of Judges for the FCT High Court, and the absence of information justifying the selective appointments, blatantly disrespects the Judiciary; the impression it creates, is that the Executive controls the Judiciary even regarding matters pertaining to the affairs and organisation of the Judiciary. When a similar question arose in India not so long ago (“In re Special Reference 1 of 1998�), the Supreme Court of India held that, the Indian President is bound to appoint Judges recommended by persons in the Judiciary, notwithstanding that the Indian Constitution gave the President power over appointment of Judges.

Nigeria’s President ought to provide both the Judiciary and the public with clear, cogent,

MXVWLĂ€DEOH DQG GHIHQVLEOH UHDVRQV for downsizing on a list sent to him for appointment by the Judiciary. The precedent set by the President in taking this action is a new, but nevertheless, ominous threat to the autonomy of the Nigerian Judiciary.

To prevent the propagation of a culture of arbitrariness in the exercise of the President’s powers over the appointment of Judges, Access to Justice urges: 1. President Buhari to immediately furnish reasonable and transparent reasons for not appointing all the persons nominated by the NJC to him, for appointment into the High Court of the Federal Capital Territory; 2. The Nigerian Judiciary, particularly the NJC, to observe the handwriting on the wall, and see how its own actions are hurting the independence of the Judiciary.

Its consistent failure to observe the appointment guidelines it made (to strengthen the calibre of persons who get into judicial positions), may be contributing to the escalating levels of disrespect of the Judiciary by other branches of government. The NJC needs to reposition and revitalise the Judiciary. This is particularly urgent in light of the tumultuous events of the past few years, where a business as usual approach has led to a reduction of the stock value of the Judiciary. Right now, there seems to be no visible or significant efforts by the Council to address the dysfunctionalities in the Judiciary, or lift up its public perception. If the NJC continues down this path, the Judiciary’s dignity will only plumb downwards at a faster rate.

PHOTO NEWS

The 1982 graduating class of the Faculty of Law, University of Ife appreciative of their beloved Lecturer, Emeritus Professor David Ijalaiye, SAN, celebrated him and visited him at his Ile-Ife residence last Wednesday. They were represented by, from left, Mrs Ronke Ajibola, Mr. Niyi Ijalaiye, Ms Funke Aboyade, SAN, Mr. Akin Oladeji and Mrs Ronke Adedayo. Sitted is Prof. Ijalaiye, SAN

"We would not want anything that would interfere in this investigation, which is not even before your Lordship yet.�

Justice Liman requested that the prosecuting counsel defend the EFCC’s actions, urging him to show if the Commission has any probable cause to hold on to property without an order of the court, and having not charged the Defendant on the issue.

Ismaila Mustapha a.k.a Mompha

2020 NBA-SBL e-Conference, Exploring ‘Business Unusual’ The 14th annual NBA-SBL e-Conference themed ‘Business Unusual’, began with an opening remark by the CPC Chairman – Ozofu ‘Latunde Ogiemudia, and was declared opened by the Chief Justice of Nigeria, Hon. Justice Ibrahim Tanko Muhammad.

Remarks were also made by Seni Adio, SAN, Chairman NBA-SBL; Paul Usoro, SAN President, NBA; goodwill messages by Governors Babajide Sanwo-Olu and Seyi Makinde. The keynote address was given by Senator William “Mo� Cowan, President, Global Government Affairs and Policy (GAP) and Developed Markets for GE. Day one was characterised by two plenary sessions, three breakout sessions and a fireside chat. The first plenary session, ‘Disrupting the Status Quo: Charting the Path for an Alliance’, involved a thorough discussion between entrepreneurs and policy makers on forging a new alliance under which Nigerian businesses can flourish, considering the global economic crisis presented by the Covid-19 pandemic. This session featured the Hon. Minister of Mines and Steel Development.

It was noted that Nigeria has seen significant attrition in both FPIs and FDIs since the pandemic began, and the Government is working on putting in place policies to avoid depression, although recession may be unavoidable.

These policies include an extra N2.3trillion budget to revive the economy into priority sectors – agriculture, public housing and power sector; a strategy to employ 774,000 people - 1000 employees from the 774 LGs in the country; creation of a gold ecosystem - solar power and internet is being taken to the off-grids so that they won’t be left behind; and a downstream policy to eliminate export of raw oil.

During the second session, themed, ‘Business Unusual: Continuity in times of Crisis’, the panelists recognised that uncertainty is more eminent, and may remain for a longtime.

Despite this, businesses must explore creative ways to ensure continuity, and technology must be embraced to ensure ease of doing business at this crisis time. Businesses must stay communicative across their customer base and keep talent pools together, while accelerating a digital transformation process. To solve financial problems, businesses should offer solutions to larger businesses to get capital, as staying liquid is key, while it was recommended that small businesses should be encouraged with strong regulations to help them survive.

During the fireside chat themed, ‘Changes on the Horizon: The Future of Company Law in Nigeria’, reference was made to the Companies and Allied Matters Bill that was passed by the National Assembly. The Bill covers a wide range of measures which, once it receives Presidential Assent, would see significant operational and legislative changes to company law, impacting new and existing businesses. In this brief Fireside Chat, the Registrar-General of the Corporate Affairs Commission, discussed the forthcoming changes to Company Law in Nigeria, including the introduction of a mailing system and e-filing that enables documentation and signature, filing during change of directors, registration, change of name, and submission of financial statement to be done electronically.

The CAC has in plan to start issuing e-certificates. This will come to fruition, before the end of the year. It was said that this will help the Commission’s integrity, and will subsequently be published for clients to see.

This first breakout session, ’Banking through the Crisis’, explored how the banking sector and fintech solutions can navigate through unprecedented times. It also assessed how banks manage to service their customers in the pandemic, as well as the outlook of things post Covid-19.

Interswitch stated that whatever affects the banks, affects fintech

organisation. There was a huge spike in the use of cards at the peak of the pandemic, but with fear of job loss people became conscious of their spending. It was envisaged that fraudsters would take advantage of the operation, with support from the CBN, things were kept in check. The fintech industry experienced a dip in May, and recovery in June – v-shaped, but as things have stabilised, the industry is taking a hopeful view.

In the second breakout session, ‘Fossilised: End of the Oil and Gas Industry as we know it?’, the plunging demand for oil brought about by the Coronavirus pandemic, combined with a savage price war, has presented the oil industry with the gravest challenge in its 100-year history. What will be the short- and longer-term impacts for the oil industry? Going forward, this season would affect the balance on the supply side, and prices might remain low for a while. It might trigger struggle for market share, and might damage the market the more, thus, affecting tax ad investment. Also, issues of social inclusiveness, such as sustainability must be emphasised.

In this session, themed, ’AFCFTA: Dead or Alive?’, as countries look to localise supply chains and protect their national interests, the question of the status and possible implementation of the Africa Continental Free Trade Agreement remain. On July 8, 2019, Nigeria signed the Africa Continental Free Trade Agreement (AfCFTA), which aims to increase trade between African countries.

Though the country aimed to ratify in July, the pandemic has affected the process. Many countries have closed their borders for exports; 42 borders have been closed, either partially or fully. To ensure free trade agreement establishment across countries in Africa, nations must ensure the use of standard business and market negotiation, instituting neutral bodies to address standards, and to ensure border barriers are removed.

L-R, Christine Sijuwade, Chair, Venue & Accommodation, Adeola Ajayi, Secretary, CPC, Seni Adio, SAN, Chairman, NBA-SBL, Theodora Kio-Lawson, Chair, Media & Publicity, Ozofu Ogiemudia, Chair, Conference Planning Committee

8/

21.07.2020

Of Salami, Malami and Magu Introduction News of the suspension of the erstwhile acting Chairman of the Economic & Financial Crimes Commission (“EFCC”), Ibrahim Magu, by President Buhari merely followed the pattern of the exits of previous occupants of that office. To that extent, one would be forgiven for concluding that the job is something of a poisoned chalice - a banana-peel of sorts. It took hardly anyone by surprise, as it had long been on the cards. When the President finally moved against Magu, what fascinated observers was not the source of the allegations (all 21 of them) - Attorney-General Malami (for years, it was an open secret that the two men barely saw eye-to-eye) – but, rather, their gravity: from official corruption, outright stealing/diversion/misappropriation of proceeds of crime, to living beyond his means and insubordination (to Malami, who, by law, oversees the EFCC).

Cynics have dismissed the manner with which Magu was apprehended (reportedly plucked, commando-style, from traffic on an Abuja road) as merely his just desserts, given the controversial style with which he ran the EFCC. He has since been compelled to ‘defend’ himself before a Tribunal of Inquiry, headed by retired respected former President of the Court of Appeal, Hon. Justice Isa Ayo Salami.

While all this was going on, news filtered in of AttorneyGeneral Malami’s alleged ownership (albeit through proxies) of multi-billion Naira landed property in Abuja and his home-state of Kebbi. These have been denied, but video footage of his son spraying and being sprayed with Naira currency notes allegedly on his ‘bachelor’s eve’ party, is hard to dismiss for the simple reason that such ostentation is a criminal offence under Section 21(3) of the Central Bank of Nigeria Act, 2007. Another, more serious charge, is that he authorised the sale of crude oil which was ordered to be forfeited by a court, by the same person who was implicated in its theft (or of another cargo of the same commodity).

Needless to say, both men are presumed innocent until proven guilty. That stage is still some way off. For now, what ought to pre-occupy us, is whether the aforesaid antecedent probe by retired Justice Salami is legally proper.

This challenge is valid, regardless of whether Magu himself rode rough-shod over the liberties of others during his time at the Commission or not. This is partly because, apart from him, about 12 other senior staff of the Commission have reportedly been suspended – in the same circumstances as Magu’s - pending investigations. Suspended by whom, it was not revealed.

Discipline of Staff of the EFCC Even though its precise remit is still shrouded in secrecy, it is clear that the ongoing investigation of Magu by the Justice Salami panel is essentially fact-finding, no doubt with a view to possible disciplinary proceedings, if need be. I believe this calls into question the capacity of the President who constituted it, vis-à-vis the relevant applicable laws. To start with, the EFCC Chairman is just one of 16 members of the Commission, all of whom are appointed by the President, vide Section 2 of the EFCC Act. By virtue of Section 11(1) (b) of the Interpretation Act, that power includes the power to suspend a member, such as Magu. What is not so clear, is Magu’s status and that of the other suspended staff of the Commission vis-à-vis the Public Service Rules and the Tribunals of Inquiry Act, under which the Salami Panel that is probing him/ them, was constituted as aforesaid. It appears that the answer to this poser, depends on whether he/they are public officers or merely political appointees.

Is Magu a Public Officer, a Political Appointee or Both?

This question is crucial, as different disciplinary provisions would seem to apply to both categories of officers. To start with, Section 1 (1) of the Tribunals of Inquiry Act empowers the President to “constitute a Tribunal to inquire into any matter or thing or into the conduct or affairs of any person in respect of which, in his opinion, an inquiry would be for the public welfare”. In Magu’s case, however, this provision appears to be slightly at odds with Paragraph 29 and 30 of the Third Schedule to the Constitution, which provides that the Police Service Commission established under Section 153(1)(m) of the 1999 Constitution shall, inter alia, “exercise disciplinary control over persons holding any office in the Nigeria Police Force, with the exception of the Inspector-General of Police”.

This provision is apposite, because Magu is wearing two

Attorney-General of the Federation, Abubakar Malami, SAN

Suspended Acting Chairman of EFCC, Ibrahim Magu

hats, as it were, given that he is a serving Senior Police Officer (he is a Commissioner of Police). To the extent that the Constitution is supreme over all other laws, the irresistible conclusion is that the on-going probe of Magu by the Justice Salami-led Panel of Inquiry constituted as it is, pursuant to the Tribunals of Inquiry Act (an inferior statute to the Constitution), is ultra vires the President, null and void.

In EFCC v HON. JUSTICE HYELDZIRA NGANJIWA (2017) the Court of Appeal laid down the principle that, before a person who is subject to the disciplinary control of a body established by the Constitution can be investigated pursuant to an inferior statute (incidentally, in that case, the EFCC Act), such a person must first be either dismissed or retired by the constitutionally established disciplinary body, before he or she can be dealt with by the other agency.

I believe that – in addition to the National Judicial Council which was specifically involved in Justice Nganjiwa’s case - this principle applies with equal force to all the other bodies which were created, uno flatu, under Section 153(1) of the Constitution and whose composition and powers are contained in the 3rd Schedule to the Constitution. I submit that, to hold otherwise would violate the right to equal protection of the law under Article 3(2) of the African Charter on Human and Peoples’ Rights.

Indeed, Magu’s case is arguably stronger, because to the extent that at all material times he was a serving police officer, he remained under the over-arching disciplinary remit of the Police Service Commission. This is the case, notwithstanding his secondment to the EFCC – after all,

the Commission is but a specialised police force which merely focuses on economic and financial crimes.

“...... TO THE EXTENT THAT AT ALL MATERIAL TIMES HE WAS A SERVING POLICE OFFICER, HE REMAINED UNDER THE OVER-ARCHING DISCIPLINARY REMIT OF THE POLICE SERVICE COMMISSION. THIS IS THE CASE, NOTWITHSTANDING HIS SECONDMENT TO THE EFCC.....”

What of the Public Service Rules?

Beyond the foregoing, it seems that the 16-odd Commissioners of the EFCC, including Magu, are officers in the public service of the Federation and are, therefore, subject to the Public Service Rules 2009. In Magu’s specific case, given that he is a serving police officer, Section 318 (1) of the Constitution categorises him as an “officer in the Public Service of the Federation”. Additionally, this is also because the EFCC itself, is a Federal Parastatal within the contemplation of Chapter 16 of the Rules.

By virtue of Rule 160501 of the Public Service Rules, “the power to exercise disciplinary control over officers in Parastatals, is vested in the supervisory Boards/Councils in accordance with their respective conditions of service”.

Is this provision at odds with the aforesaid power conferred on the President by Section 11(1) of the Interpretation Act, to suspend anyone whom the President may have appointed? That is the question. In my opinion, the Rules ought to prevail over any such presidential power, for the simple reason that they deal specifically with discipline of public officers. This is because, specialibus generalia derogant: special things derogate from general things.

In this regard, Rule 030403 provides that “the disciplinary procedure for serious misconduct, shall be in accordance with Rules 030302 to 0303062 of the Public Service Rules”. By way of illustration, some of the allegations against Magu appear to be provided for in the Rules. For instance, Rule 030301 deals, inter alia, with “unauthorised removal of public records; refusal to take/carryout lawful instructions from superior officers and insubordination”.

Similarly, Rule 030402 deals with, inter alia,“withholding of files; bribery; corruption, embezzlement; misappropriation; wilful damage to public property”.

Finally, Rule 030305 provides that: “If it is presented to the Federal Civil Service Commission that an officer has been guilty of misconduct, and the Commission does not consider the alleged misconduct serious enough to warrant proceedings under Rule 030306 with a view to dismissal, it may cause an investigation to be made into the matter in such a manner as it considers proper, and the officer shall be entitled to know the whole case made against him/her, and shall have adequate opportunity of making his/her defence. If, as a result, the Commission decides that the allegation is proved, it might inflict any other punishment upon the officer such as reduction in rank, withholding or deferment of increment or otherwise”.

Conclusion The last is yet to be heard on the Magu saga, as it is rapidly evolving. What can, however, be said with some certainty, is that whatever Magu’s shortcomings and failings might have been, he is entitled to all the constitutional safeguards and protections which he might have denied others, while he held sway at the EFCC. The simple reason is that, two wrongs don’t make a right. The same applies to Malami.

20

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PPPRA:MarketersImported500,000mtofPetrolonResumption Peter Uzoho Independent and major marketers of petroleum products have so far imported about 500,000 metric tons of petrol, equivalent to five billion litres into the country upon their return to petrol importation activity, the Petroleum Products Pricing Regulatory Agency (PPPRA) has disclosed.

The private marketers had pulled out of the petrol importation business in 2017, when they could no longer cope with the unfavourable market fundamentals and realities at the time, a situation that ushered in the Nigerian National Petroleum Corporation (NNPC) as the sole importer of petroleum products.

However, the liberalisation of the downstream sector by the federal government this year opened up the space again for the marketers to play in, but not without reservations among the marketers, who still believed more clarity was needed in the policy.

The General Manager, Corporate Services, PPPRA, Mr. Kimchi Apollo, told THISDAY in a chat that marketers had been applying for permits to import petrol and were being giving by the agency, resulting in the said volume imported by them. “For the past two or three years, it is only NNPC that brings.

NNPC will bring and then tell you that they have removed this and that amount as subsidy; you don’t know what to say, nobody can say anything. “But now, we are giving them (marketers) opportunity to import.

They imported over 500,000 metric tons of petrol (both independent and major marketers, not NNPC). “They requested for permits and were given. So they have opportunity now to import. But we need to also guide them; we need to make sure they do not surcharge or short-change Nigerians,� Apollo said.

However, the PPPRA spokesman expressed worry over the

SEPLAT Appoints Onwuka Executive Director The Board of Directors of Seplat Petroleum Development Company Plc has announced the appointment of Mr. Emeka Onwuka as its Chief Financial Officer (CFO) and Executive Director of the company.

The appointment takes effect from August. Onwuka has over 30 years’ experience in financial services within Sub-Saharan Africa. He has acted as the voice and face of major financial institutions in Nigeria. He is a former Group Managing Director /CEO of Diamond Bank Plc and former Chairman of Enterprise Bank Limited.

Onwuka is a Partner at Andersen Tax Nigeria and holds various board positions, including chairman, FMDQ Securities Exchange Limited; director, FMDQ Holdings

attitude of marketers to pump price of petrol, saying their swiftness to adjust their pump prices whenever there is price increase without a corresponding speed to adjust when there is reduction in pump price, justified government’s fear in allowing them to determine prices of petrol.

In its latest petrol price advisory issued July 1, 2020, the federal government had increased the pump price of petrol to between N140.80 and N143.80 from between N121.50 to N123.50 sold in June, the highest increase since the commencement of the price modulation regime in March, and most of the filling stations in the country quickly adjusted their prices upward same day the announcement was made He said: “If you see agitations by the marketers (major marketers, independent marketers, depot owners), all the agitations and what they are writing on the papers is that PPPRA should be removed and allow them to fix the price. You know, when PPPRA hands off diesel

and kerosene the price of diesel never came down. “Even when there was fall in oil price, did they reduce the price of diesel? They did not. So these are the kind of business men we have. And so they are agitating that they don’t want government to fix price and things like that. “When the price comes down they are reluctant to adjust their pump price but when it goes up, like it has done now, all of them will go to the highest bar and quickly. “Within an hour all of them will change to the new price. So that is it. We said the guiding price is between N140.80 to N143.80. “If they said they have the interest of Nigerians at heart, why is nobody even selling at N142, N141?. That’s the kind of business men we have, and they have been agitating, pushing, going everywhere, talking to the press, making people feel government should not interfere and all that. “And there is no responsible government that will say, ‘you

go and fix the price you want to fix’. Then the government is not serious. No serious government will sit down and fold its arm and allow that to happen.�

Apollo said the guiding price was being fixed in a way that marketers could be able to play and encourage competition, adding that with time, there would be marketers who would not want to sell at the highest price as a strategy to attract customers.

According to him, “even as it is now there are people who are not selling at N143.80; some are selling at just N143 just to make sure that there is a difference between their own and others.

So these things will from time to time play themselves out. “But you see, we are looking at the market fundamentals.

The price can go up and come down. Even as it has gone up now, it can still come down if something happens. It is all about what the market today is like.�

He attributed the inability of companies to build modular refineries after receiving licences

to part of the reasons Nigeria still imports petrol with attendant subsidy, explaining that the subsidy even discouraged those who managed to build from going into the refining of petrol, noting that they prefer producing diesel whose price is high.

Apollo added: “They don’t want to go to petrol because government is subsidising it.

But once it is free now, there is no subsidy on it, most of these refineries will complete and start producing petrol. And as many of them start producing petrol, the price will come down. Because they are no longer importing, they are producing locally, that’s one thing. “That is the essence of saying we are removing subsidy. And first, we are having issues around because nobody, including me and you will want increase in price. It is the same thing with labour, everybody will not want increase in price. But we keep saying that government spends about N2 billion everyday on subsidy.�

Limited; director, Ecobank Nigeria Limited and director, Bharti Airtel Nigeria.

Onwuka received his B.SC in Political Science from the University of Nigeria, Nsukka, and holds an MBA from the University of Benin. He is a Chartered Accountant, a fellow of the Institute of Chartered Accountants of Nigeria, a fellow of the Chartered Institute of Taxation of Nigeria. He has attended executive programs at the Lagos Business School, Wharton Business School and Harvard Business School.

Onwuka holds the Nigerian National Honour, Officer of the Order of the Niger (OON).

The board of Seplat said it is confident that the wealth of knowledge and experience he brings will be a great addition to the company.

Expert Tasks Businesses on Cybersecurity Framework Sunday Ehigiator Cybersecurity and Information Technology Expert, Engr. Abiodun Odewale, has tasked businesses on the importance of resilient cybersecurity framework.

Odewale, said this during a webinar titled: “Implementing a Resilient Cybersecurity Framework for your Enterprise,’ held recently.

He said a research carried out by the University of Maryland revealed that hackers attack every 39 seconds, on an average of 2,224 times a day, saying only five per cent of companies’ folders are properly protected. “Internet is an integral part of business and personal life. In 2019 Q1, data breaches exposed 4.1 billion records. In 2018, 62 per cent of businesses experienced phishing and social engineering attacks. “On an average, only five per cent of companies’ folders are properly protected. And while 71 per cent of breaches were financially motivated, 25 per cent

were motivated by espionage. “Also, while 52 per cent of breaches featured hacking, 28 per cent involved malware and 32 to 33 per cent included phishing or social engineering, respectively. “Hacking refers to exploiting system vulnerabilities and compromising security controls to gain unauthorised or inappropriate access to the system resources. It involves modifying system or application features to achieve a goal outside of the creator’s original purpose “Hacking can be used to steal, pilfer, and redistribute intellectual property leading to business loss.�

Speaking on Information Security (IS), and Enterprise Information Security Architecture (EISA), Odewale harped on confidentiality, integrity, availability, authenticity, and non-repudiation of information for IS, and Network Security Zoning, (NSZ), Defence-InDepth Strategy, and good Security Policies for EISA respectively.

Barkindo: How World Leaders Helped OPEC Save Oil Market Emmanuel Addeh in Abuja The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Mohammad Barkindo, has said political leaders in some of the world’s most powerful nations helped in building consensus to curb the crisis in the international oil market caused by the Covid-19 pandemic and its attendant supply glut.

He said for the first time in many decades, OPEC faced a double whammy of demand as well as supply shocks of unparalleled proportions, but particularly singled out the role played by the United States in returning sanity to the market.

Barkindo argued that the pandemic has also proven beyond any reasonable doubt that multilateralism cannot be replaced in the world of today

and the need to come up with a governance structure that will prepare the transition in a climate-friendly fashion.

Describing the decisions on April 9 and 12 to adjust supply globally by 9.7 MMbd as historic, the OPEC chief explained that the market was already facing projections of nearly 30 million bpd demand contraction in the month of April and between 25 to 30 million bpd in the second quarter. “We tried to cobble together this agreement despite the differences among us and we welcomed the participation of the biggest producers in the world. “In particular the United States that took it upon themselves to ensure that we were able to bridge the gaps between us, to restore communication between us, to finally take this decision including to the minutest details

of the volumes. “We are grateful to the US and other leading producers around the world that rallied around, including the G-20,� he said.

According to him, when ministers reach their limits in terms of their ability to compromise to provide some flexibility, the political leaders normally take over. “Their intervention saved the situation,� Barkindo stated.

He posited that there was no objective whatsoever from OPEC as a group or even as individual countries to drive US shale production out of business. “No. It is not in our interest to do that. It is not in the interest of the global industry to do that.

Without the US shale probably, we could have entered into a worse crisis than we are seeing in this pandemic. “Everybody has a role to play.

We need to balance the various variables. You have supply. You have demand issues compounded by a virus that has triggered a worldwide pandemic and is still ongoing. “Therefore, nobody can say for certain what the outlook would be in the short-term, let alone the medium term. We are very much appreciative of the support and the cooperation we are getting from the US both at the level of policymakers as well as from industry. “This industry is a global industry. Without the leadership of the US, it would be impossible for any group of countries to be able to maintain sustainable stability,� he said.

He also explained that OPEC will be 60 this September, stressing that the organisation intends to use the opportunity to review its existence in the last six decades.

21

T H I S D AY ˾ TUESDAY JULY 21, 2020

PROPERTY & ENVIRONMENT COVID-19: Lagos Introduces Drop Box Facility for Land Documentation Bennett Oghifo

T

he Lagos State government says it has set up drop box facility at the Land Registry in its Lands Bureau to ensure unhindered land title documentation in this dire period of the Coronavirus (COVID-19) pandemic.

The drop box facility is administered at the collection centre of the Lands Registry, said the Permanent Secretary of the Lagos State Lands Bureau, Mr. Olabode Agoro, at a webinar on: “COVID 19 Disruption and Land Title Administration in Lagos State: Preserving the Business of Real Estate”, organised by DF Legal, a firm of legal practitioners.

Agoro said all transactions, including application for Governor’s Consent, would now be done using the drop box facility “by placing the application and supporting documents inside an envelope with the name of the applicant written on it. The applicant is also required to write a phone number (WhatsApp enabled) and an email address on the envelope.

“Upon submission of the envelope, a file number is given for tracking the application and a team of dedicated officials at the Registry would proceed with the processing of the application. “The team would contact the applicant where documents are outstanding.

Also, the Bureau has limited the number of persons allowed at a time into its customer service centre to use the drop box.”

Agoro listed services undertaken by the Bureau to include the application for Governor’s Consent, processing of all documentation regarding land titles and administering all lands in Lagos on behalf of the Governor of Lagos State.

He explained that “Governor’s Consent is the process where a transferor seeks the

approval of the Governor of Lagos State to transfer of interest in land to the transferee.”

The Permanent Secretary also assured that the ongoing digitisation process, which is aimed at automating all processes in the Lands Registry, should be concluded by the end of next year.

He said this would culminate in the launch of an e-portal for hosting all kinds of transactions carried out in the Registry.

Also, the Director of Land Services, Mrs. Joy Awe, explained that in applying for Governor’s Consent, an applicant is expected to submit a Form 1C, three deeds with chartable survey (where the land is a private land), a means of identification, a cover letter with easily accessible phone numbers, site photographs containing the date and time the photograph was taken and a site location sketch.

She, however, said if it was government land, the chartable survey may be dispensed with. “The applicant is also expected to attach four passport photographs: one on the Form 1C and on each of the three deeds. Where the applicant is a corporate body, it is expected to include its Certificate of Incorporation.”

Other issues addressed at the webinar were Retrospective Registration, commonly known as Double Consent and the process for applying for Double Consent, a situation where the last assignee (now the present assignor) does not have a registered title. In this instance, reliance is placed on other existing registered title documents that make up the roots of title.

Hence, the assignor’s unregistered documents are submitted for registration alongside the assignee’s deed.

An application for Double Consent is expected to contain five deeds (two of the assignor’s unregistered deed and three of the assignee’s deed) and an indemnity letter in addition to

the documents required for an application for consent. A site inspection and an interview of occupants of the land will also be conducted.

The Deputy Registrar of Titles, Mr. Adebisi Adeniji, stated that “once an application for consent is received from the Directorate of Land Services, before the Directorate of Lands Registry can proceed to act on the registration, request is made for the ‘Roots of Title’ for sighting before the Registry can proceed with the registration of the title.”

He appealed to applicants to be proactive by making the originals of their Roots of Title available once they receive a letter from the

Directorate of Lands Services intimating them that their file has been moved to the Directorate of Land Registry.

The Managing Partner, DF Legal, Mrs. Abiola Ogundare, said the webinar was organised to examine the effect of the COVID-19 disruption on the activities of the Lagos State Lands Bureau and how the public can interface with the Bureau in view of its skeletal services now being rendered by government establishments and other businesses.

Ogundare called on the state government to speed up digitisation to ensure seamless process of documentation forthwith.

L-R: Managing Director of Julius Berger Nigeria Plc., Dr. Lars Richcter; Executive Director Administration, Julius Berger Nigeria Plc., Alh. Zubairu Ibrahim Bayi; and Divisional Manager, Julius Berger Nigeria Plc., Mr. Benjamin Bott (behind), at the public hearing with the House of Representatives Committee on Works, at the National Assembly Abuja… recently

CORBON, NIOB, Other Professionals Seek Solution to Building Collapse Bennett Oghifo The Chairman of the Council of Registered Builders of Nigeria (CORBON), Professor Kabir Bala, has charged construction sector professionals to update their knowledge continually to stem incidences of building collapse in the country.

Bala, who is also the Vice Chancellor of Ahmadu Bello University, Zaria noted that the issue of building collapse in Nigeria continues to be a concern for builders and other professionals, underscoring the need to continue to update knowledge in order to fully maintain best practices.

The vice chancellor gave the advice at a webinar organised by the Nigerian Institute of Building (NIOB), during which he and other professionals in the construction sector proffered solution to the incessant collapse of buildings in the country.

This NIOB’s first ever national virtual workshop held from July 15 -16, 2020, because of the combined effect of the COVID-19 pandemic and the need to address building production and construction challenges in Nigeria, according to the President of NIOB, Kunle Awobodu.

He said the workshop was one of the Institute’s “practical and proactive steps towards addressing

FG’s Patronage of Nigerian Architects Good for Devt, Says ARCON Fadekemi Ajakaiye The Architects Registration Council of Nigeria (ARCON) has called on the federal government to engage the services of registered Nigerian architects, as they possess the skills to deliver quality services for the nation’s development.

President of ARCON, Sir Oladipupo Ajayi, said the desire of some government officials to employ their foreign counterparts over Nigerian Architects, was not healthy for the development of the profession, the construction industry and the economy.

Ajayi made this appeal last week during the council’s first virtual induction ceremony, which led to the licensing of newly registered architects and architectural firms.

The ARCON president also urged Nigerian architects to think outside the box and create wealth, as times were changing, adding that there were many emerging opportunities within the

profession.

He said gone were the days when they would go the conventional way, stating that Nigerian architects should be innovative and creative to deliver designs that met the need of the moment.

He said architects, who are leaders in the construction family, should evolve new ways of doing things, embrace technology in their day-to-day life and create wealth.

According to Ajayi, “Notwithstanding the biting effects of coronavirus, architects have greater opportunities to prove our leadership role by embracing innovating designs that both meet the need of your client and such that can be sustainable in the nearest future.”

He charged Nigerian architects to explore urbanism, stating that many Nigerian cities cry for regeneration.

“The Council would like to draw your attention to urbanism, which has been scholarly defined as the study of low population of urban areas such as towns and cities

and its interaction with the built environment.

“The Nigerian architect has been trained to handle this kind of schemes. The benefits of Urbanism are multifarious but suffice it to say that it enhances the quality of life, make available better places to live, work and play in, higher and more stable property values”, he revealed.”

Ajayi said: “We therefore call on the Nigerian Government to partner with the Council for urbanism to be achieved in Nigeria and urban regeneration, which is principally to aid existing cities to be remodeled to pave way for the creation of more roads, motorways and transport systems, as well as creating new residential areas, industrial sites and commercial areas.”

To the inductees, Ajayi said: “As you take your pledge, I would want you to start thinking of how you would make the investor release his wallet to you through your designs.”

the unwarranted and embarrassing menace of building collapse in Nigeria.”

The workshop addressed critical knowledge and practice areas in foundation design and construction; structural analysis and design of buildings; software application in the design

of building structural system; structural failure in buildings; design of concrete mix and field applications; builders and formwork design in building construction; and detailing of structural elements in buildings, including practical experience sharing on building projects.

Cleanagent, Digital Marketplace for Dry-Cleaning, Laundry Services Opens in Nigeria Fadekemi Ajakaiye A cleaning service technology company, Cleanagent, has launched an innovative online marketplace for dry-cleaning and laundry services, to mitigate hassles associated with drycleaning and laundry services within the Nigerian market.

Developed by the duo of Estonia-based young Nigerians, Cleanagent is a co-operation and marketing tool designed and developed to empower dry cleaners and laundry experts by connecting them with individuals and businesses that need their services in order to generate more businesses and

scale profitably, they said in a statement.

“In essence, Cleanagent is not a competitor in the laundry/ dry-cleaning industry, but a marketplace for laundry and dry-cleaning services.”

While disclosing the rationale behind the innovative cleaning technology, Thomas Olusola Ajayi, co-founder and Chief Executive Officer for Cleanagent, explained that despite the disruption occasioned by technology, the cleaning industry, especially laundry/dry cleaning that account for over 60% of this industry in Africa, has witnessed slow penetration of technology.

One of the numerous factors for these, he explained, is the thin

income margin in the cleaning industry which leaves limited financial resources for the small and medium-sized enterprise laundry and dry-cleaning service providers to invest in service process improvements using technology.

“For the service users, access to quality cleaning services is costly in terms of time, money and energy required. The existing industry practice of consuming only from the providers next door by the consumers creates room for emotion driven decision-making. This creates social, environmental and economic problems; hence Cleanagent was born to provide the solutions,” he said.

IFMA Lauds FG’s Handover of National Theatre Fadekemi Ajakaiye The International Facility Management Association, Nigeria Chapter, has lauded the Federal Government’s initiative of handing over the National Theatre, Iganmu, Lagos to the Central Bank of Nigeria (CBN) and the Banker’s Committee. The symbolic event which happened on Sunday, July 12 2020, is not only commendable but equally a step in the right direction.

This was said by the Acting President of the Association, Mr. Segun Adebayo.

According to him, this initiative of the Federal Government of Nigeria through the Ministry of Information and Culture, the Central Bank of Nigeria and the Banker’s Committee should also be extended to other National facility like the National Museum and National Stadium amongst others that are not been put into optimal use.

While commending all parties including Lagos State Government, the Acting President also advise the Central Bank of Nigeria and Bankers Committee as critical parties

the success of the project to activate the “Sustainability Road Map” through the proactive engagement of professional facility management process as they commence the revamping of the national monument.

According to him, one of the challenges with the effective operation of National theatre was lack of professional management of the facility. I urge the driver of the project to begin with the end in mind by engaging professional facility management practitioner as part of the team of the consultants on the project.

p

22

IMAGES

T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

Managing Director, Galaxy Backbone Limited, Prof. Mohammed Abubakar (left) and Emir of Gombe, Alhaji Abubakar Shehu Abubakar during a visit by the Emir to the headquarters of the Galaxy Backbone Office, Wuse 2, Abuja...recently

Member of the House of Representatives, representing Langtang North and Langtang South Federal Constituency of Plateau, Beni Lar (2nd, right), during the distribution of COVID-19 palliatives to her constituents in Langtang...recently

L-R: Resident Representative of Konrad Adenauer Stiftung (KAS) in Nigeria, Dr Viadimir Kreck; Director of International Cooperation, Federal Ministry of Finance, Budget and National Planning, Mrs Elizabeth Egharevba; and representative of the Ambassador of the Republic of Germany, Mr Uche Nwosu, during a workshop on capacity building for Special Advisors and Technical Assistants of the Minister in Abuja... recently

L-R; Representative of the Managing Director of ANAMMCO vehicle assembly plant in Enugu, Mr Iheanyi Ogbonna; Executive Director, Corporate Services of ANAMMCO, Mr Uche Okeke; and Deputy Governor of Enugu state, Mrs Cecelia Ezeilo, during the donation of a mechanical hand washing and sanitizing equipment to Enugu state government to curb COVID-19 pandemicon in Enugu State...recently

Chairman, Governor’s Forum, Ekiti State Governor, Dr. Kayode Feyemi (right) and Executive Secretary, Nigeria Christian Pilgrim Commission (NCPC), Rev. Yakubu Pam during a courtesy visit by the Governor to the Commission’s Corporate Headquarters, Abuja...recently

Vice President of Industrial Global Union, Comrade Issa Aremu (middle) flanked by Hajiya Khadijat Aremu (right) and Bashir Aremu, during the 2020 Nelson Mandela Day celebration in Kaduna...recently

Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar-Farouq (2nd left) and some officials of Zamfara government and National Emergency Management Agency (NEMA) during the donation of palliative materials to the state by the Federal Government at Gidan Dawa area, Gusau...recently

Minister of Transportation, Rt Hon. Chibuike Rotimi Amaechi during the inspection of the Warri-Itakpe rail line...recently

23

TUESDAY, JULY 21, 2020 ˾ T H I S D AY

MARKET NEWS

Unilever Nigeria Assures Stakeholders on Growth, Profitability Goddy Egene The board and management of Unilever Nigeria Plc have assured the shareholders of their commitment to

good corporate governance that would drive sustainability and efficiency and lead to enhanced growth and profitability.

Addressing shareholders at the 95th

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

annual general meeting of the Company, the Chairman of Unilever Nigeria Plc, His Royal Majesty, Nnaemeka Achebe, commended the shareholders for their trust and loyalty to the company.

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 17Jul-2020, unless otherwise stated.

According to him, despite the challenging business environment, which has now been complicated by the Covid-19 pandemic, the management at Unilever Nigeria will remain strategic

in their approach to sustaining the Company’s operations to revert to profitable and sustainable growth.

Achebe said the company posted a revenue of N60.5 billion revenue

in the year ended December 31, 2019, representing a decline compared to N92.89bn recorded in 2018. Profit after tax declined from N10.55 billion to N7.42 billion in 2019.

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 0.93 1.72% ACAP Income Funds 0.78 0.78 9.73% 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 2.89 2.95 17.27% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 6.05% Anchoria Equity Fund 94.25 94.58 -8.15% Anchoria Fixed Income Fund 1.26 1.26 9.52% 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 13.96 14.38 -8.89% ARM Discovery Fund 332.19 342.20 -3.83% ARM Ethical Fund 30.13 31.04 3.60% ARM Money Market Fund 1.00 1.00 4.73% 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 91.89 92.54 -4.36% AXA Mansard Money Market Fund 1.00 1.00 4.93% 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 N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A 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 0.06 0.04 5.74% Paramount Equity Fund 10.79 10.99 -13.78% Women's Investment Fund 107.29 108.17 -2.86% 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 100.23 100.45 Cordros Milestone Fund 2028 100.54 100.77 Cordros Dollar Fund ($) 101.25 101.25 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 3.73% Coronation Balanced Fund 0.92 0.93 -1.36% Coronation Fixed Income Fund 1.55 1.55 16.33% 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 1,363.65 1,364.92 11.89% FBN Balanced Fund N/A N/A N/A FBN Halal Fund 107.21 107.23 7.21% FBN Money Market Fund 100.00 100.00 4.68% FBN Nigeria Eurobond (USD) Fund - Retail 117.57 118.22 1.30% FBN Nigeria Smart Beta Equity Fund 111.84 113.61 -14.06% 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 4.24% Legacy Debt Fund 3.79 3.79 3.64% Legacy Equity Fund 1.08 1.10 -4.77% Legacy USD Bond Fund 1.11 1.11 2.77% 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 3,066.17 3,097.31 0.79% Coral Income Fund 3,201.00 3,201.00 4.07% 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 3.96% Vantage Balanced Fund 2.27 2.30 3.37% Vantage Guaranteed Income Fund 1.00 1.00 8.56% Kedari Investment Fund (KIF) 146.73 147.27 2.30% 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 1,119.91 1,119.91 5.85% 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 1.35 1.37 10.43% PACAM Fixed Income Fund 12.01 12.06 6.51% PACAM Money Market Fund 10.00 10.00 3.60% PACAM Equity Fund 0.99 1.00 PACAM EuroBond Fund 107.07 109.46 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 118.50 121.32 -7.87% 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 5.50% 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 2,521.35 2,532.80 -0.61% Stanbic IBTC Bond Fund 210.33 210.33 0.32% Stanbic IBTC Ethical Fund 0.88 0.89 -0.57% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 0.39% Stanbic IBTC Iman Fund 154.92 156.64 0.49% Stanbic IBTC Money Market Fund 100.00 100.00 4.42% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 -1.88% Stanbic IBTC Dollar Fund (USD) 1.16 1.16 0.23% Stanbic IBTC Shariah Fixed Income Fund 118.18 118.18 0.00% 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 1.14 1.15 -5.74% United Capital Bond Fund 1.83 1.83 5.69% United Capital Equity Fund 0.63 0.64 -10.54% United Capital Money Market Fund 1.00 1.00 5.15% United Capital Eurobond Fund 115.98 115.98 3.68% United Capital Wealth for Women Fund 1.06 1.06 -2.75% 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 10.04 10.14 -2.41% Zenith Ethical Fund 11.58 11.65 -0.55% Zenith Income Fund 24.44 24.44 9.76% Zenith Money Market Fund 1.00 1.00 4.91%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

116.39

3.85%

53.25

2.31%

Bid Price

Offer Price

Yield / T-Rtn

8.93 81.48 64.77

9.03 83.21 65.94

2.59% -4.13% -1.87%

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

2.70 4.02 11.03 1.00 10.90 198.78

2.74 4.10 11.13 1.00 11.10 200.78

-23.78% -31.80% -8.86% 5.24% 4.86% 5.07%

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.

24

T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

FEATURES

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

Re-education on Substance Abuse Ojo Maduekwe

O

n June 26, Nigeria joined the rest of the world to commemorate the International Day against Drug Abuse and Illicit Trafficking, to create awareness on the dangers of substance abuse. As a result of the limitation posed by the COVID-19 pandemic, the MTN Foundation in partnership with BusinessDay newspaper, the NETng and MTVBase, organised a virtual event with the theme ‘Better Knowledge for Better Care’ to proffer solutions to the problem of substance abuse. The event had a panel discussion comprising personalities from non-governmental organisations, the entertainment industry, government, health, media, information and communications technology.

Speakers include Minister for Youths and Sports, Sunday Dare; Chairman, MTN Foundation, Prince Julius Adelusi-Adeluyi, OFR, mni; Psychiatrist, Yewande Oshodi; Country Manager, ViacomCBS Networks Africa, Bada Akintunde-Johnson and the Ag. Executive Secretary, MTN Foundation, Odunayo Sanya. Also on the panel were actors Dakore Egbuson-Akande and Ini Edo; Country Representative, United Nations Office on Drugs and Crime (UNODC), Oliver Stolpe; Director-General CADAM, Adedokun Adedeji; actor and anti-drug abuse advocate, David Jones David; musician, Praise ‘Praiz’ Ugbede; popular On-Air Personality, Chinedu ‘Nedu’ Ani Emmanuel and actor, Ada Afoluwake ‘Folu Storms’ Ogunkeye.

Chairman, MTN Foundation, Prince Julius Adelusi-Adeluyi captured it succinctly when he said, “It is easier to keep off drugs than to get off drugs when you are already hooked;”. In his welcome address, Prince Adelusi-Adeluyi said it was encouraging to see young Nigerians who are most affected by drug abuse to be at the forefront of the anti-substance abuse campaign. Odunayo Sanya on her part explained that Nigeria has majority of young population under the age of 24, so it is important to focus on this demography. To build a nation, we need to focus on these people. She stated that there was a need for more platforms like the one put together by the MTN Foundation in tackling the issue. Above all, she said the curriculum at schools needs to accommodate the topic, and that parents should do more in setting good examples for the children.

Cross section of participants at the virtual meeting The notion that one needs to be on drugs to stay productive as an artist and entertainer was debunked by all the speakers in the industry, from Ini Edo to Praiz, Dakore, Nedu, Akintunde-Johnson and David Jones. This shouldn’t have to be the norm, according to Praiz. “As a musician, you don’t need to be under any influence to perform on stage.”

Unfortunately, it is the norm for a good number of established and upcoming entertainers.

David Jones talked about how drug abuse has eaten deep into the fabric of Nigeria’s society to the point that many people now think it’s normal. “People come to my studio and before anything they’ve placed bottles of codeine for you to take; and when you express shock, they are equally shocked.”

Continuing, he said, “There are others, especially entertainers who think if you must go on stage to perform you need to be high.

They say “I am an entertainer,” suggesting that they must be high to perform.” While

substance abuse is prevalent among young Nigerians, there are not enough organisations advocating against the issue. Considering it is a national health problem, one would expect that the government at every level will take a greater interest, but there’s been disinterest on the side of the government. David Jones who described drugs as “one-chance,” asking that young Nigerians considering drug abuse “don’t even start”.

“I think we’ve woken up a bit late to making the issue a national project,” said Sunday Dare, Minister for Youth and Sports. “Institutional support is what has been missing on our part, and I think we are like 10 years later.”

Moving forward, the minister said Nigeria must look at its laws. “Not only the laws that criminalise this issue, but also look at the people who manufacture these drugs, the pharmaceutical companies and the supply chain as a whole.” According to him, to put the menace to rest, “we must have a system

that rewards good behaviour and severely punishes bad behaviour.”

An interesting highlight was the story of a survivor of drug abuse, Sandra Meme, who narrated her journey to drug abuse and how she eventually managed to escape from its claws. According to her, it began occasionally by constantly hanging around people who were abusing drugs. Miss Meme was on her way to becoming a dancer but fell into the belief that to become a fulfilled entertainer, one needed to use substance. However, in hindsight, she said, “the idea that drugs will give you the inspiration to perform better as an entertainer is all in your head.”

The notion was the re-education of substance abusers, beginning from home. All the speakers highlighted the roles of the family in educating and sensitising the young ones. The role of the media was also highlighted and the need to promote anti-substance narrative through music, movies and other forms of entertainment.

Lease of Hope for Lagos Communities Rebecca Ejifoma

W

hen the economy slid into hardship, many individuals and firms were affected negatively.

This was orchestrated by the outbreak of the COVID-19 pandemic and the immediate lockdown.

Consequently, many citizens began to battle for survival.

It was in a bid to shrink their anguish that Tiffany Care Foundation, a non-governmental organisation, rose to the occasion. Recently, it provided essentials like foodstuff for about 100 individuals in Ketu and Ogba communities in Lagos.

For the beneficiaries, who are the very needy in the two communities, their intervention packs contained rice, beans, cassava flakes (garri), onions, maggi, noodles, beverages, cooking condiment and spices.

Mr. Albert Uzoka is one of the recipients. He is a Radiologist, widower and father of three in Ogba area. He shared with THISDAY how he eloped from home when he could no longer live with chronic hunger amid the lockdown.

He recounted: “It's a no-go area. I cannot explain what I witnessed that time of COVID-19 lockdown. I even ran away from home to find where someone would be taking care of me.

My wife is late, and I have children to cater for.

So I am very happy today with what I got. It's something I never expected. I even looked at the card twice and asked myself which organisation this is and where it is from”.

Among the 100 beneficiaries sat Mrs. Calista Innocent. She is pregnant and already has three

Members of the foundation mouths to feed.

“I feel happy,” she heaved a sigh. “I saw COVID-19. It affected my husband and I so terribly that nothing has been going well again.

We struggled to even feed the children who are home everyday”.

Noting that her husband is a commercial bus driver couldn’t work during the lockdown, she bemoaned the earlier days of the pandemic.

She lauded Tiffany Care for the show of love. “I appreciate these people. It is God that touched their hearts to help us here today, to help people like us who are in need. God will keep helping them so that they will reach more people in need”.

Speaking to THISDAY, the Founder and CEO,

Mrs. Tiffany Okunola, a US citizen married to a Nigerian, said she could not turn a blind eye to the plight of Nigerians.

“We are an NGO that attends to the basic necessity for Nigerians to rise above hardship.

We are here for the less privileged, the homeless and the elders in the communities,” she enthused with passion.

Formerly called BNT, Tiffany Care Foundation was founded in 2015. Since its existence, it has toured communities in Lagos like Maryland, Pen Cinema, Ayobo, Agege and Lekki rural communities, among others.

“I do everything out of my pocket for now, hoping that sponsors would come in. We are not only giving them food, but teaching them

skills to sustain them. I said to myself that if I could teach others how to make things life will be better. Tiffany Care Foundation has more plans for the country.

“When I return to Nigeria, we plan to do a walk – females only – to bring more awareness that women are tired of being raped. We are very transparent and show our donors the receipt for each donation and what it is used for,” the founder added.

During the palliative exercise, the Operations Manager, Mark Obinyan, expounded that they set out to reach some families in dire need in the communities.

He added: “It was surgical move; reaching out to those who are really in need - families and households. We gave to 50 families in Ketu and 50 in Ogba. We gave them food items that would last them for weeks, at least. We have people who are familiar with the people in the society who are below middle-class. We are identifying them by familiar people in the society to help however we can.”

Continuing, the operations manager acknowledged that this period is a tough time. He said a lot of people are in need and unable to go about their normal businesses like they would have on a normal day.

“No matter how much we help, there is always somebody out there that also needs help. So, we do the little we can and we keep identifying the needy. Hence our slogan, 'No one is left behind.

We keep smiles on people's faces'.”

He, however, noted that the more people reached, the lesser the problems, adding that they welcome prospective sponsors as they are quite transparent.

25

T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

FEATURES

Tony Elumelu: God’s Gift to Africa Ehi Braimah

A

great mind such as Tony Elumelu, founder of the Tony Elumelu Foundation (TEF); Chairman of UBA, Africa’s Global Bank, and Chairman of Heirs Holdings, an African investment conglomerate, amongst several other interests, needs little or no introduction. He is God’s gift to Nigeria, and then Africa. But Elumelu’s larger than life image obviously transcends the boundaries of Africa, making him a global citizen. The focus of this essay will be more about his amazing philanthropy and burning desire to create enduring prosperity and social wealth in Africa by empowering entrepreneurs and enhancing competitiveness of the private sector.

The Tony Elumelu Foundation (TEF) which is the philanthropic arm of Heirs Holdings was launched 10 years ago. Since then, TEF has created a legacy of impact and transformational changes in different sectors across Africa including a new strategic approach to philanthropy by leveraging influence and impact. It reminds one of the vision of Rotary which is similar to that of TEF. Rotary is a global network of 1.2 million neighbours, friends, leaders and problemsolvers who see a world where people unite and take action to create lasting change – across the globe, in their communities, and in themselves.

TEF is funded by an annual grant from Heirs Holdings and supported by the group’s investee companies. In the first five years of its existence, the Foundation spent over N2 billion in furtherance of its mission.

TEF has also supported the philanthropic goals of other institutions and not-for-profit organisations working in and for Africa.

Upon inception, the four key focus areas of the Foundation were: supporting entrepreneurship; enhancing competitiveness; policy intervention and leadership development. These strategic goals have continued to propel TEF to break new grounds with significant outcomes but the flagship project is the Tony Elumelu Foundation Entrepreneurship Programme (TEF Entrepreneurship Programme) which was launched on January 1, 2015. The TEF Entrepreneurship Programme represents the vision of Elumelu to empower a new generation of African entrepreneurs by supporting the business goals of at least 10,000 entrepreneurs across Africa over a 10 year period with the aim of creating over one million jobs and $10 billion in additional revenue for the continent.

When the TEF Entrepreneurship Programme was launched, President Muhammadu Buhari was obviously very proud of Elumelu. In his view, the TEF Entrepreneurship Programme was essentially a proudly Nigerian project although it has footprints all over Africa. President Buhari was effusive in his praise of Elumelu for his vision for Africa. “I’m pleased to see that efforts like this aimed at promoting self-help and creating jobs and opportunities for Africa’s youths are gaining ground,” President Buhari remarked. “This demonstrates that the work of re-building our country (as well as the wider continent) is one all patriots and stakeholders must actively engage in.

I’m proud that Nigeria (and a Nigerian) is taking the lead in the effort to promote self-worth, encourage entrepreneurship, create jobs, build and promote networks for intra-African trade, business collaboration and investment,” the President added. This was clearly a major endorsement for the Tony Elumelu Foundation, coming five years before the African Continental Free Trade Agreement (AfCFTA) was launched by the African Union to lower trade and investment barriers between African countries.

It shows Elumelu is a visionary and he was creating a future for Africa when he founded TEF in 2010. Innovation is critical to creating the future. Brian Halligan is an American executive who co-founded HubSpot, an inbound marketing and sales software company. He is also an author and this is what he said about innovation: “Imagine the future and fill in the gaps.” A lot of innovation is required in different sectors of the economy and that is what Elumelu is doing in his transformational journey

Elumelu by using private capital to create wealth in Africa through broad based partnerships with governments, companies, individuals and philanthropies across the globe.

The TEF founder and UBA Chairman, says entrepreneurship is the most effective way to establish true prosperity and he has continued to expand this vision to touch lives by providing seed money for young African entrepreneurs. But more importantly, the TEF founder wants a paradigm shift from the existing narrative whereby Africa depends largely on aids from multi-lateral institutions; it is not sustainable and it confers on Africa a weaker negotiating position in international trade. For example, see the damage from COVID-19 pandemic on the economies of African countries – it just shows how vulnerable the continent is; we do not have buffers to mitigate serious economic headwinds.

According to Dr Akinwunmi Adesina, President of the African Development Bank (AfDB), COVID-19 could cost Africa’s GDP loss of between $22.1 billion and $88.3 billion in the worst case scenario. Economic recession is already here with us, and as African countries look up to the financial capitals of the world for debt forbearance, not forgiveness, Africa’s total public debt will be over $2 trillion in 2020, Adesina further stated. According to data available in the TEF Impact Report, this is the same Africa that has an annual GDP of about $2 trillion, comparable to India or Russia. Twelve African economies are growing at 6% per annum and have been doing so for six years. Every year, $72 billion is invested in infrastructure projects across Africa and by 2030, it is estimated that Africa’s agriculture sector could generate $1 trillion annually.

For Africa to rise above this constant challenge, the solution lies with African entrepreneurs creating a value driven and robust economy that is sustainable. This was precisely why Elumelu created the economic philosophy known as Africapitalism with the TEF Entrepreneurship Programme serving to catalyse the vision. He is not saying that aid is bad per se, but we should stop complaining and get our priorities right. The young entrepreneurs of Africa can become economic disruptors once they are empowered, thereby changing the story from aid to trade and investment.

Since 2015, TEF has been disbursing up to US$10 million yearly in direct seed capital to empower young entrepreneurs across Africa under the TEF Entrepreneurship Programme brand, and this vision will be sustained for 10 years until 2025 (the first cycle) by which time $100 million would have been invested in the project by the Tony Elumelu Foundation. According to Elumelu, Africapitalism is the private sector’s commitment to Africa’s development through long term investment in strategic sectors of the economy that creates economic prosperity and social wealth.

For the private sector to thrive there should be an enabling economic environment in the form of investmentfriendly government policies. But setting and implementing policies – different layers of avoidable bureaucracy and red tape can

frustrate such policies – takes time. TEF discovered that research was a critical component of the strategy for the private sector to unlock the investment potential in Africa so that entrepreneurship can flourish.

To bridge the gap, the Africapitalism Institute was launched during the World Economic Forum in Africa which held May 7 – 9, 2014 in Abuja.

The Institute is an independent non-profit think tank with a mission to broaden and accelerate economic prosperity and social wealth in Africa. To achieve this objective, the private sector must have the capacity to create and multiply local value across Africa. The Institute – which is the research and advocacy arm of the Foundation; call it the “brain box” if you like -- provides rigorous research, curate and communicate new ideas (innovation), develop and test the ideas, directly engage key stakeholders and advocate for public policies and business practices that will unlock investment opportunities in Africa.

Make no mistake about it, the investment potential in Africa that Elumelu refers to is huge. As noted by Dr Strive Masiyiwa, another African business leader and investor from Zimbabwe in his Facebook post, Africans in the diaspora contribute significantly to the wealth of African countries. “According to official statistics,” Masiyiwa wrote in his insightful FB post, “Africans in the diaspora send home about $65 billion per year. If this represents 10% of their income, then their total income is about $650 billion.” This is a lot of money which is more than the total income of all the 200 million people living in Nigeria -- our GDP is about $550 billion. The data indicates that about 25 million Nigerians form part of the African Diaspora nation (about 60 million Africans belong to this community) and they remit about $26 billion back home annually – almost 40% of our oil revenue before COVID-19 pandemic hit us below the belt.

An African Development Bank (AfDB) 2018 report indicated that Africans in the diaspora send home about $82 billion a year which Masiyiwa also cited in his FB post.

After Egypt which remitted about $29 billion, Nigeria came second with annual remittances by our brothers and sisters in the diaspora amounting to $26 billion, according to the report. These are funds transferred to family and friends but most of it is not invested; even then, the annual remittances are more than what comes into Africa as Foreign Direct Investment (FDI). In 2018, FDI into Africa was about $46 billion compared to $82 billion remitted by Africans in the diaspora.

Masiyiwa who has spent most of his adult life as an African Diasporan – over 32 years actually; even now, he’s based in London, UK – is very passionate, just like Elumelu, for Africa to explode with growth and development in different sectors. He believes that there are several business opportunities in the continent, adding that Africa’s entrepreneurship climate is progressively improving. However, he explained in his five-step guide to Africans in the diaspora wishing to invest in Africa that they must look before

they leap. A Brookings report, according to Masiyiwa, stated that greater innovation and investment from business is essential to meet Africa’s unfulfilled demand for goods and services, close the gap in its infrastructure, create jobs and decrease poverty.

It is evident that Elumelu and Masiyiwa are two African billionaires with single minded determination to change the fortunes of Africa through entrepreneurship. If I understand the way these two phenomenal and innovative African investors are thinking, Africa should not be a poor continent, and this thinking is rooted in the Africapitalism philosophy. According to the IMF Data Mapper World Economic Outlook, the top ten economies in Africa in terms of their economic size by GDP -- which varies from time to time -- are as follows: Nigeria ($494.83 bn), South Africa ($369.85 bn), Egypt ($353 bn), Algeria ($178.64 bn), Morocco ($124.54 bn), Kenya($109.13 bn), Ethiopia ($103.61 bn), Angola ($88.98 bn), Ghana ($69.76 bn), and Tanzania ($67.24 bn).

After reviewing the Impact Report of the Tony Elumelu Foundation from 2010 – 2015, Elumelu believes strongly that the most transformative changes in Africa will be created by entrepreneurs who have brilliant ideas and exhibit a passion and innovation in solving local problems and creating social wealth. Let me share a personal experience.

In 2014, our public relations and marketing management company was honoured alongside 49 other companies at Eko Hotel, Victoria Island, Lagos by the Tony Elumelu Foundation and Allworld Network on March 22 which is Elumelu’s birthday. That partnership was a pioneering effort to promote some of the fastest growing but unlisted companies in Nigeria in the “Fast Growth 50” or “Nigeria50” awards. The partnership helped to attract new investors, customers, growth partners and talent for the 50 companies through visibility economics by showcasing their efforts and results on an international scale.

I recall that the world renowned professor of competitive strategy, Michael Porter of the Harvard Business School, spoke to us. “Strategy is all about winning in the market place by gaining competitive advantage,” Prof Porter explained in one of the sessions. TEF later published The Success Factor to codify the lessons and successes of Nigeria50 and it featured the career of each company CEO/ founder, enumerating the steps they took to build their companies. Over 5,000 copies of the book were distributed in Nigeria to young graduates and entrepreneurs.

Subsequently, I became a mentor of the TEF Entrepreneurship Programme from 2015 with the first cohort. Mentors are a vital part of the Tony Elumelu Foundation Entrepreneurship Programme which supports entrepreneurs across Africa with $5,000 non-refundable seed capital to build their businesses. They also receive training, mentoring and through peer-to-peer engagement, they build a formidable network and alumni.

Once the business is launched, Tony Elumelu entrepreneurs may receive additional funding of $5,000 each as loan or equity.

Over 3,000 mentors from 46 countries around the world have provided guidance and support to the nearly 10,000 entrepreneurs that have been empowered by the Foundation across Africa. In the first year of the highly competitive programme, over 20,000 applications were received from 52 countries and the largest number of applications came from Nigeria (49%), followed by Kenya (17%), and Uganda (4.5%). Since then, the numbers have quadrupled every year and to date, the Foundation has received nearly 600,000 applications for its flagship programme. In response to these numbers, the Foundation launched TEFConnect, its proprietary digital platform for African entrepreneurs, where TEF provides comprehensive capacity-building support, advisory and market linkages for nearly one million African SMEs. ...Braimah is a PR and marketing strategist based in Lagos.

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

26

T H I S D AY Ëž Í°ÍŻËœ 2020

BUSINESS/MONEYGUIDE

Access Finalises Acquisition of Kenya’s Transnational Bank Goddy Egene Access Bank Plc has completed the acquisition of Transnational Bank Plc, of Kenya (TNB).

The bank made this known in a statement signed by its Company Secretary, Sunday Ekwochi, a copy of which was posted on the website of the Nigerian Stock Exchange (NSE) yesterday. “Access Bank Plc is pleased to inform the investing public and the Nigerian Stock Exchange of the Bank’s successful completion of the acquisition of Transnational Bank (Kenya) Plc. This follows the receipt of full regulatory approvals and fulfillment of all conditions precedent to completion,� the statement said.

Commenting on the acquisition, the Group Managing Director, Access Bank Plc, Herbert Wigwe, said: “We are excited to make an entry into the vibrant Kenyan market. We pledge to put our customers at the forefront of everything we do. Through the creation of a world class payment system, we will build and support our wholesale and retail customers using our strong customer insights to deliver beyond their expectations. “We are indeed grateful to the regulators for the confidence reposed in us throughout this transaction and we acknowledge the support of our team of world class advisors whose hard work made this deal possible.�

The bank explained that

after already having a solid retail presence across Africa, the acquisition of TNB will allow it build on its expertise in agricultural financing and deploy its resources to optimise other business segments. “With a long-publicised vision to be the world’s most respected African bank, this entry into the Kenyan market, a key gateway in East Africa, not only brings the Bank closer to that vison, but also enables customers tap into its extensive global network.

This network would enable such customers have access to immense business opportunities, robust and efficient digital solutions, competitive products and unrivalled customer experience,� the bank said.

Aig-Imoukhuede Harps on Capacity Building The founder/Chairman of Coronation Capital Limited, Mr. Aigboje Aig-Imoukhuede, yesterday said the company remains committed to building a continuous learning environment that empowers its employees.

The former Access Bank CEO said this while welcoming participants to the second edition of the Coronation Capital Limited Corporate Finance and Business Valuation online training (Valuation Master Class).

He said: “At Coronation Capital, we are strong believers in continuous learning, developing intellectual abilities. That is why

whenever there is an opportunity to bring renowned academics, we seize it.�

He noted that the company decided to invite globally renowned Professor Aswath Damodaran, a Professor of Finance at New York University’s Stern School of Business, who headlined the first edition of the Corporate Finance and Business Valuation Training Programme, to again handle this year’s edition of the event because, “there is no better person that will teach you how to value assets.�

The four-day event continues and on 27th and 28th of July, 2020.

It was designed to provide participants with a deeper understanding of corporate finance, valuation methodology and financial statement analysis with a key focus on appraising the business impact of financial decisions on the organisational performance.

Damodaran, who has been referred to as Wall Street’s “Dean of Valuation,� is widely respected as one of the foremost experts on corporate valuation. He has been voted “Professor of the Year�

by Stern’s graduating MBA class five times and has been awarded NYU’s Excellence in Teaching and Distinguished Teaching award.

‘Downstream Petroleum Industry Requires Urgent Reforms’ Peter Uzoho The downstream sector of Nigeria’s petroleum industry is long over-due for favourable policy changes that would enable it flourish and contribute optimally to the nation’s economic growth and development, a report has stated.

Analysts at FBNQuest stated this in a report from a recent survey conducted by REACH Technologies, a Nigeria-based financial technology company, on its behalf.

The report indicated a substantial decline in household spending on transportation, a situation that

dealt major blow on marketers of petroleum products, who have been asking for reforms in the sector.

According to the report, spending on all forms of road transportation - private and public modes – declined by around -20 per cent year-on-year.

It stated the decline in aviation fuel consumption was even more severe given the closure of the international airspace to passenger flights and the halting of commercial domestic flights.

The report noted that given relatively softer petroleum products demand in the first quarter of 2020, the near term outlook for the sector was certainly

subdued, adding, however, that long term prospects appeared more promising.

While noting that the downstream oil and gas business was typically a low margin one, the FBNQuest report, however, pointed out that other factors, mainly constraining policies, had led to historically low investments in the sector over the last decade.

Explaining further details of the report, the Oil and Gas, Industrials and Agriculture Analyst, FBNQuest, Uwadiae Osadiaye, said: “In our view, the fortunes of the sector could change with the growing possibility of full pricing deregulation.

Heritage Bank Upgrades Mobile App Heritage Bank Plc has upgraded its HB Padie mobile application to HB Padie 2.0.

The banking solution comes with new improved features for convenient, quick, secure and affordable way for seamless 24/7 banking transaction. The Padie app was redesigned and re-launched with new improved multi-functional feature and game-changing innovation that leverages customers to ease ac-

cessibility to funds and improve the standard of living. “This is poised to enable customers’ card management in connecting all bank accounts with their Debit Card details or account holder information. “The banking app which is squarely targeted at customers across board and embedded with improved security and self-service features allow the customers to open accounts from

comfort of their zones. “Padie 2.0 combines digital transactions and community lifestyle payments that empower customers with the power to build their world and perform digital transactions how they want. “The platform possesses other numerous benefits, as one of these is an enabler for foreign exchange transfer with speed and convenience you need all in one,� the bank explained in a statement.

AXA Mansard Boosts Investment Culture Ebere Nwoji AXA Mansard Investments Limited has called for the use of its Money Market Fund (MMF) as a saving tool in navigating the current economic downturn.

AXA Mansard Investment, is an asset management company within the AXA Mansard Group The AXA Mansard Money Market Fund is a large pool of funds from different similar minded investors that are invested

in money market instruments.

Asides the fund being managed by a team of experienced professional asset managers, customers also enjoy competitive returns on savings, can track daily interest with ease.

Wigwe

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

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE Ëœ ÍŻÍľ Í°ÍŽÍ°ÍŽ

The price of OPEC basket of thirteen crudes stood at $43.22 a barrel on Friday, compared with $43.80 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

27

T H I S D AY Ëž Í°ÍŻËœ Í°ÍŽÍ°ÍŽ

NAHCO Grows Profit Before Tax to N1.34bn, Pays N487m Dividend Goddy Egene Shareholders of Nigerian Aviation Handling Company (nahcoaviance) Plc have approved the N487 million dividend recommended by the board of directors for the year ended December 31, 2019. The dividend, which translated to 30 kobo per share, was approved at the annual general meeting (AGM) last week.

Speaking at the AGM, the Chairman of NAHCO, Dr. Seinde Fadeni, disclosed that the company’s profit after tax (PAT) increased significantly from N196.8 million in 2018 to N717.2 million in 2019, representing 264 per cent increase within the period.

According to him, the improved performance, was due to the several measures put in

P R I C E S MAIN BOARD

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place during the financial year to control cost and increase revenue by the company.

He said the year would have ended on a better note, but the United States – China trade issues and the COVID-19 virus in the Asian country affected importation and reduced flight frequencies at the tail end of 2019. “In line with our business strategies, the initial problems of increased costs of operations

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and administrative expenses have been taken on board by management and are being released. “The transformation agenda, being facilitated by KPMG, is on course. This transformation agenda includes our five-year strategic plan and this plan is anchored on five strategic pillars and three key enablers.

Also speaking, the Group Managing Director, NAHCO,

T R A D E D MAIN BOARD

A S

Mrs. Olatokunbo Fagbemi, explained the group expended resources into re-fleeting, which produced immediate result as the company was able to provide a more efficient service, reduced degreasing and cost of maintenance.

She added that the company upgraded the warehouses in Lagos, Kano and Abuja airports, adding that it also began the implementation of the new

O F

staff condition of service, which enhanced workers’ welfare and promoted industrial harmony in the group. “In 2019, the implementation of the five-year 2019 to 2023 transformation plan, which was developed in 2018 after a business review of your company by board and management, commenced with a 12-month programme code named Project Falcon.

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28

TUESDAY JULY 21, 2020 ˾ T H I S D AY

NEWSXTRA

Ekiti Arrests 100 Motorists for Not Using Face Masks Victor Ogunje in Ado Ekiti No fewer than 100 motorists were yesterday arrested by operatives of the Ekiti State Traffic Management Agency (EKSTMA) as the state begins enforcement of mandatory use of face mask to combat the spread of COVID-19.

The state Attorney General and Commissioner for Justice,

Wale Fapohunda, had last Friday announced that commuters, commercial motorcyclists and other section of the citizenry, who refuse to put on the face mask or carry any violator from July 20 will be arrested and prosecuted.

Commencing the enforcement of the order for motorists yesterday, the General Manager of EKSTMA, Chief Femi Olanrewaju, who led

the traffic agency’s operatives during the operation, said over 100 offenders were arrested in the first day of the enforcement.

Olanrewaju revealed that though the offenders were supposed to be prosecuted in line with the laid down rules,

they were pardoned owing to the respect the state Governor, Dr. Kayode Fayemi, has for the people of the state.

“The enforcement exercise started today (yesterday), and about 100 motorists who violated the rules were arrested in some

areas in Ado Ekiti metropolis.

“This action is not targeted at making money for the state through fines that would be imposed after trials at the special offences court, but we are trying to checkmate a lot of people against living recklessly and to secure

their health.

“What we did today (yesterday) was a warning operation, and that was why we pardoned the violators. It was like a warning or amnesty which we granted to them after delaying the offenders for about six hours.

Two Persons Feared Killed, One Kidnapped in A’Ibom Cult Clash Okon Bassey in Uyo Two persons have been reportedly killed and one kidnapped in a renewed cult clash between Debam and Iceland confraternities in Oruk Anam Local Government Area of Akwa Ibom State.

The cult clash occurred in Inen Ikot Eteye and Ikot Inyang villages of Inen community in the state.

THISDAY checks revealed that the attack, which happened about 7p.m. last Sunday, claimed the life of one Ubong Okon Udo Ibanga, who operated a drinking joint opposite the village primary school in the area.

An eyewitness, Nse Okon Udo, said the second victim who lived near the community market square popularly known as Urua Idung Okuwa, was hacked by the same squad that killed the drinking joint operator, and escaped with his corpse.

Nse, who did not disclose the name of the second victim, explained that they died on the

spot after several gunshots at their heads and bellies, as they were left in the pool of their blood.

He said the same gang escaped to the neighboring village in Ikot Inyang where one welder was kidnapped.

Another eyewitness, who pleaded anonymity, said the community was in panic by sporadic gunshots that caused residents to run away from their homes for safety.

“As I speak with you now, I ran away from my house since yesterday to hide in another village. When we heard the shootings, we knew that the ‘boys’ were here again.

“Before we knew it, two young men were killed. I packed a few things like a pregnant woman carrying her emergency bag with my family and ran away to this place now.

“I don’t know when I would return home. Our village is not safe for everybody. The cultists always attack rival group members, but now they operate house to house every night, stealing, killing and kidnapping people.

N12.4m Scam: Fraudster Loses Appeal, Gets Additional TwoYears Kingsley Nwezeh in Abuja The Court of Appeal sitting in Awka, Anambra State has added two years jail term to an earlier five years sentence, (without option of fine) handed to 39-year-old convict, Ikenna Stanislaus Ugwunna by Justice Chudi Nwankwor of Anambra State High Court, Ogidi.

The convict had approached the appellate court for reprieve but got additional jail term as the court held that the trial court did not have the discretion to prescribe the five-year jail term it sentenced the convict for an offence the law stipulates seven years jail term on conviction, hence it reviewed the sentence upward.

Ugwunna’s ordeal started on March 31, 2014 when the Economic and Financial Crimes Commission

( EFCC) South-East Zone arraigned him on six-count charges, bordering on forgery and obtaining by false pretence, contrary to Sections 1(1) (a) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and Section 443 (1) of the Criminal Code Law of Anambra State.

Investigations established that the convict sometimes in 2011, fraudulently presented himself as a representative of a Chinese company that deals in vehicle spare parts, upon which he obtained the sum of N12.4million from his victim to make supplies to him.

An EFCC statement said without making the supplies, he diverted the money to his personal use, and frustrated all efforts by his victim to recover his money.

Monsignor Robert Lozano Passes On Monsignor Robert Lozano, the former Regional Vicar of the Catholic personal Prelature, Opus Dei, is dead.

He died on Tuesday, July

Monsignor Robert Lozano

14, 2020 in Mexico at the age 87. Lozano came to Nigeria in 1971 and was among the first set of people to begin the apostolate of Opus Dei in Nigeria.

Being an architect, Monsignor Lozano taught architecture briefly at the University of Lagos before quitting to solely cater for the apostolate of Opus Dei in Nigeria.

Together with many generous Nigerians, Monsignor Lozano was instrumental in the establishment of the Helmbridge Study Centre, Lagos, Iroto Conference Centre, Ijebu-Ode, Wavecrest College of Hospitality, Lagos and Pan-Atlantic University, Epe, Lagos

CONSULTATIVE VISIT...

L-R: Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo; Governor Douye Diri; and the state Chairman of the Peoples Democratic Party (PDP), Chief Solomon Agwanana, during the courtesy visit of the State Working Committee of PDP to Government House, Yenagoa...yesterday

FG Moves for Out-of-court Settlement on Police Fund Deductions Alex Enumah in Abuja The federal government yesterday disclosed that it has entered into discussions with the Rivers State Government for an amicably out-of -court settlement of the dispute over deduction of funds from the Federation Account into the Nigeria Police Trust Fund (NPTF).

The Solicitor-General of the Federation and Permanent Secretary of the Federal Ministry of Justice, Chief Dayo Apata (SAN), told Justice Ahmed

Mohammed of the Federal High Court Abuja that the federal government took the option in the overall interest of national security.

“The matter was adjourned for hearing today my Lord but counsel of other defendants and me have held discussion with the counsel to the plaintiff (Rivers State). This matter is predicated on the security of Nigeria as a corporate entity.

“We are looking at the larger picture and we considered it necessary that we should sit

down and work out amicable settlement, and we appreciate the plaintiff counsel for his understanding that we should take adjournment for meaningful resolution of this matter,” he said.

Responding, counsel to the plaintiff, Chief Ifedayo Adedipe (SAN), confirmed the statement of Apata, adding that the plaintiff is not averse to an amicable out-of-court settlement.

He also did not oppose to a short adjournment as requested by counsel to the federal government.

Consequently, Justice Mohammed adjourned the matter to October 7, 2020, for the report of settlement.

At the last hearing, the court had declined request by the Rivers State Government for an order to temporarily stop the deduction of funds from the Federation Account into the Nigeria Police Trust Fund.

Rather, Justice Mohammed okayed the accelerated hearing of the substantive suit, and urged all parties to explore an out-of-court settlement of the matter.

Police Arrest Fleeing Alleged Killer-sergeant Begin manhunt for nine jailbreakers Abia State Command of the Nigeria Police Force has arrested a fleeing alleged killer-officer identified as Sergeant Chinatu Onyema.

This is as the Force said it has begun manhunt for the remaining nine of the 29 criminal suspects that escaped from its cell in Umuahia on Saturday.

Onyema reportedly killed two persons in Aba, the commercial nerve of the state last week.

The gun said to have been used

to commit the crime was reportedly recovered at a location in Aba after which the Sergeant has been on the run.

Onyema was reportedly apprehended Sunday night at a location in Isiala Ngwa North Local Government of the state through intelligence.

Police Public Relations Officer (PPRO), Geoffrey Ogbonna, in a statement said Onyema, who

hails from Isiala Ngwa Local Government Area, was arrested by detectives.

According to him, the arrest of Onyema was sequel to an internal intelligence team set up

by CP Agbede.

Ogbonna said the arrested cop would appear in court after the conclusion of investigations.

In a related development, the police have begun manhunt for the remaining nine of the 29 criminal

suspects that escaped from police cell in Umuahia on Saturday.

Ogbonna confirmed to the News Agency of Nigeria (NAN) yesterday that 29 detainees escaped from the Umuahia Central Police Station’s cell after overpowering the guard on duty.

Narrating the incident, Ogbonna said that one of the detainees had appealed to the guard (name withheld) to assist him with water to flush the toilet.

Adamawa CP Parades 33 Kidnappers, 10 Robbery Suspects Daji Sani in Yola The Adamawa State Commissioner of Police, Mr. Olugbenga Adeyanju, has paraded 33 suspected kidnappers, two cult members, 10 robbery suspects and 16 persons for allegedly inciting communal conflict in the state.

While parading the suspects

yesterday at state police command headquarters in Yola, the CP said the achievement was recorded from July 1 to date, as a result of relentless efforts of the command.

According to him, “The command arrested 33 suspected kidnappers, two cult members, 10 robbery suspects and 16 persons for inciting communal conflict in

the state.

“The achievement was recorded as a result of the relentless efforts by the command gallant officers with much support from professional hunters, the government and the good people of the state.

“During the arrest, dangerous weapons were recovered, which

include five AK 47 assault rifles, two single barrel guns and one G3 revolver pistol.

“Other weapons recovered are 328 rounds of lives ammunition, 10 cartridges, human part, and one Toyota vehicle with registration No. RBH 186 AA; one tricycle and N58,420 cash.”

SEC Promises Collaboration to Sustain Capital Market Resilience Ndubuisi Francis in Abuja The Securities and Exchange Commission (SEC) has assured that it will continue to engage and collaborate with all stakeholders in a bid to ensure that the capital market remains resilient.

It also expressed a desire to automate its processes to conform to current global technological

trends as well as ensure a more efficient capital market.

Director General of the SEC, Mr. Lamido Yuguda who spoke during a meeting held yesterday with the Minister for Communication and Digital Economy, Mr. Isa Ali Pantami, in Abuja, stated that the agency will continue to engage and collaborate with all stakeholders to ensure that the capital market remains

resilient.

A statement issued by SEC’s Head, Public Communications, Efe Ebelo quoted Yuguda as saying that automating most of the commission’s processes would also make the capital market more friendly to investors.

He said, “Presently, we have a lot of documents and papers being brought to the Commission for one approval or the other, we think that if we

can digitalise our processes and these documents are transmitted to us electronically, it will make it easier for the market that we regulate and also stimulate growth.

“If we can achieve that, it will also reduce cost and increase efficiency; that is why we are here today to discuss with you on areas we can work together to achieve this.”

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Obaseki’s Actions are Desperate, Confused, Says Hosa Davidson Iriekpen Chairman of Ocean Marine Solution (OMS), Captain Idahosa Wells Okunbo has slammed

Governor Godwin Obaseki of Edo State, describing his actions as desperate and confused.

His Senior Executive Assistant, Mrs. Denise I. Onu, in a statement

issued last night, in Abuja, faulted the claims by the Special Adviser to the governor on Media and Communication, Mr. Crusoe Osagie, that Captain Okunbo

Supreme Court Victory: Diri Rejects Alaibe’s Congratulatory Message Bayelsa State Governor, Senator Douye Diri, has denounced as half-hearted the congratulatory message of Chief Ndutimi Alaibe following last Tuesday’s Supreme Court dismissal of his appeal.

Expressing dissatisfaction with the action of Alaibe, who was an aspirant in the September 3, 2019, Peoples Democratic Party (PDP) governorship primary that he won, Diri said the former managing director of the Niger Delta Development Commission (NDDC) went too far in his bid

to unseat him.

He spoke publicly for the first time since the apex court ruling while addressing the State Working Committee of the PDP, which paid him a solidarity visit in Government House in Yenagoa.

His acting Chief Press Secretary, Mr. Daniel Alabrah, quoted the governor as describing Alaibe’s statement issued through his Personal Assistant, Enize Ogio, as insulting and totally unacceptable.

Diri noted that in line with the Supreme Court judgement,

nobody is bigger than the party, including himself.

He wondered why an internal process like the primary election, which was transparent and guided by the party’s constitution, was dragged to court.

According to him, “It was an internal party affair, which ordinarily should not have gone beyond the shores of our state.

“We had a very transparent process, which was acknowledged across the country. From the nomination of delegates down to the primaries, everything was done according to the constitution of our party.

“I hereby reject that insulting message from one Enize Ogio.

I hereby reject it in its totality, and the PDP rejects it too.

“If they accept our olive branch, they should issue a new statement to let the PDP and the government of Bayelsa State know that they are still members of our party.”

Diri congratulated his party for being the vehicle for his emergence as the governor.

and Adams Oshiomhole had hired thugs they would deploy in the September 19 governorship election.

“Osagie made very grave and damaging claims against Captain Idahosa Wells Okunbo and a former Governor of Edo State, Comrade Adams Oshiomhole, linking them with the sponsorship of political thugs to be deployed in the September 19 governorship election.

“He claimed that both Okunbo and Oshiomhole met in Okunbo’s GRA residence in Benin on July 19, 2020 with the thugs on which occasion they paid the thugs

upfront.

“While the claims are outright ridiculous, false and mischievous, the intention behind them was/is to embarrass these respected sons and leaders of Edo State and lower their reputation in the estimation of right-thinking and reasonable members of the society.

“It is unfortunate that at a time when resources are dwindling and when there is need for public enlightenment on health related issues, Crusoe Osagie has misdirected his attention and state resources toward baseless personal attacks on perceived enemies of his principal.

“Without any iota of doubt, these malicious and careless statements by Osagie were endorsed by his principal, Governor Godwin Obaseki, on whose behalf he spoke and still speaks as his spokesperson.

“While the statement is baseless and unfair, it betrays desperation on the part of the entire Edo State Government under Governor Godwin Obaseki.

“The statement also suggests cluelessness as to how to peacefully and maturely engage with emerging political issues ahead of the September 19 governorship election.

EFCC Arraigns Two Benue Pension Officials over N19m Fraud George Okoh in Makurdi The Economic and Financial Crimes Commission (EFCC), Benue State Zonal Office yesterday arraigned the duo of Victor Gabriel Charles and John Aboyi Omaku before Justice Moris Ikpambese of the state High Court in Makurdi over alleged conspiracy and misappropriation of pension funds to the tune of N19million.

Charles, a former vice chairman of Nigerian Union of Pensioners (NUP), and Omaku, former branch Chairman of the union, were arraigned on two-count charges of fraud to which they

pleaded not guilty.

Count one of the charge read: “That Victor Gabriel Charles and John Aboyi Omakwu on September 19, 2013, in Makurdi, within the jurisdiction of this court being entrusted with funds of the Nigerian Union of Pensioners, Benue State chapter, Makurdi, agreed to dishonestly misappropriate N19,000,000, and thereby committed an offence contrary to Section 96 of the Penal Code (CAP) 124 Laws of Benue State, and punishable under Section 97 of the same law.”

Following their pleas,

prosecution counsel, George Chia-Yakua, asked the court for a commencement date of the trial, while Barnabas Iorheghem, who appeared for the first defendant (Charles), urged the court to admit his client to bail on liberal terms, noting that the defendant has been on EFCC administrative bail and has not failed to respond to any of the commission’s invitations.

Ikwe Adakole, counsel to the second defendant (Omakwu), adopted the submissions of counsel to the first defendant, in asking for bail for his client.

TUESDAY JULY 21, 2020 ˾ T H I S D AY

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Ondo Guber : PDP Fails to Get Consensus Candidate Chuks Okocha in Abuja Ahead of tomorrow’s governorship primary election of the Peoples Democratic Party (PDP) to elect its flag bearer for the October 10 governorship election in Ondo State, the National Working Committee ((NWC) has failed to ensure the emergence of a consensus candidate among the seven governorship aspirants.

The governorship primary election for the election of candidate is expected to take place tomorrow in Akure, Ondo State capital, through delegate election.

At a meeting yesterday presided over by the National Chairman of PDP, Prince Uche Secondus, none of the party’s governorship aspirants agreed to step down for a consensus candidate.

The meeting that commenced around noon came to end at about 8pm.

It was gathered that since the meeting did not achieve its objective of getting the aspirants to step down, the PDP NWC pledged to conduct a free, fair and transparent election where all the delegates will be given a free hand to choose and vote a

candidate of his or her choice.

The meeting also harmonised the controversial three-man ad-hoc delegates. The list of the delegates was a subject

controversy until it was harmonised All the governorship aspirants also signed a Memorandum of Understanding (MoU) to support

any candidate that emerges at the gubernatorial primary election.

The chairman of the governorship primary election is the Governor of

Enugu State, Hon. Ifeanyi Ugwuanyi to be assisted by the Adamawa State Governor, Mr. Ahmed Fintiri for the election.

Niger NLC Issues Strike Notice over Salary Cut Laleye Dipo in Minna The Nigerian Labour Congress (NLC) has declared a three day warning strike that would commence on Friday, July 24, to protest the decision of the Niger State Government to pay workers “slashed salaries” for the month of June.

The NLC, in a communique at the end of an emergency meeting, announced its opposition to any salary cut “under whatever guise” and that the government should resist the temptation of paying the reduced salaries to the bank accounts of the workers.

But the government started paying the “slashed salaries” to the bank accounts of workers from last Thursday.

The state government had announced two weeks ago that it would cut the salaries of workers by 30 per cent for state civil servants and 40 per cent for local government staff due to the sharp decline in the amount of money that accrues to the state from the Federation Account.

The government also slashed the salaries and allowances of all political appointees by the same margin.

The “Notice of Strike Action,” which was jointly signed by the Acting State Secretary of NLC, Mr. Salihu Mohammed

and the State Secretary of the Trade Union Congress (TUC), Mr. Garba Kontagora, said: “In compliance with the resolutions reached at the Emergency Expanded State Executive Council’s meeting of Niger State Organised Labour held on Wednesday, July 9, 2020, which was duly communicated to the Niger State Government via a correspondence with ref: No: OL/NS/040/GEN/Vol.2/91 dated July 9, 2020, that all civil servants in the state and LGAs of Niger State are hereby directed to proceed on a three (3) days warning strike effective 8.00am of Friday, July 24, 2020, after which an indefinite strike action will commence if the Niger State Government did not rescind its decision “All industrial unions are to liaise with labour congress in Niger State to ensure full mobilisation and compliance”.

The “Notice of Strike Action” stated that all affiliates of the NLC and the TUC in Niger State had been “directed to commence three (3) days fasting and intense prayers to seek divine intervention in the plight of Civil Servants in Niger state.”

There has been no reaction from the government on the strike notice.

Lagos Monarch Commends Baptist Conference The Alayige of Orile-Agege, Oba Ambali Hakeem Agbedeyi 11, has commended the Lagos West Baptist Conference for its strong focus on propagating the truth of the gospel and promoting peaceful co-existence through its teachings and doctrines.

Oba Agbedeyi stated that the Baptist Denomination has remained a strong pillar in uplifting the lives of the people through its undiluted teachings and beliefs.

Oba Agbedeyi who showered encomiums on the Baptist denomination, urged the spiritual organisation to remain focused in upholding its doctrines to the benefit of mankind.

The Oba made these remarks when he received the President, Lagos West Baptist Conference, Rev. Dr. Samuel Oladiran, and his delegation in his palace and assured the Baptist denomination of his unflinching support and co-operation at all times.

The Oba also applauded the Lagos West Baptist Conference for

its decision to build a multi-story secretariat within his domain and promised his support for such gigantic project.

Oladiran, who recently assumed his present position, underscored the need to deepen the relationship between the church and the community. He said there should be cordiality between the church and their host communities, adding that the visit is aimed at strengthening the bond and familiarising the king with the programmes of the Lags West Baptist Conference.

He asserted that the church has a critical role to play in nation building by praying for kings and those in authority.

The delegation included the Chairman, Lagos West Baptist Conference, Rev. Dr. Tunji Bamgbose; the ViceChairman, Rev. Dr. Sunday Onkanlawon while others are Rev. Jacob Ajala, Rev. Totoola Oyelade and Deacon Aremu Ayedun

SIXTY-SEVEN HEARTY CHEERS...

Ondo State First Lady, Mrs. Betty Anyanwu-Akeredolu (right), distributing autographed copies of her newly launched children’s book and other goodies to mark her 67th birthday with members of the Arabinrin Junior Tennis Club at Akure Recreation Club...yesterday

Stakeholders Seek Liberalisation of LADOL Free Zone Peter Uzoho Stakeholders in Nigeria’s maritime industry have stressed the need for the federal government to liberalise the LADOL Free Zone in Lagos so as to break the chain of monopoly that have hindered the development of the over 121 hectares of land in the zone.

Some of the stakeholders argued that the purpose of setting up the free zones (FZs) by the federal government was to attract foreign direct investment (FDI), generate employment, encourage transfer of technical skills to Nigerians and boost the country’s economy.

A Lagos-based investment advisor in the maritime sector, Mr. Tunde Hamzat lamented that rather than attract investments, the LADOL free zone has been enmeshed in controversies in recent years, adding that such

controversies scare reputable investors.

“We remember the killing of a Korean working in the free zone in April 2019 by an operative of the Nigerian Security and Civil Defence Corps (NSCDC), Mr. Innocent Oshemi. Activities in the zone are characterised by multiple litigations between the investors and the zone manager.

Very recently NPA alleged that LADOL shortchanged the federal government to the tune of N16 billion. Indeed, stories coming out from the free zone have become too scary for investors to stake their money”.

“The zone operator claimed to have received support from the Central Bank of Nigeria (CBN), Nigerian Content Development and Monitoring Board (NCDMB), and Bank of Industry (BoI) but those familiar with the zone argue that there are no investments

on ground to justify such huge support.

“This has justified the popular call for the EFCC to probe the NPA’s allegation,” he added.

Speaking on the issue at the press conference in Lagos, Yenagoa, Bayelsa State-based oil services provider, Mr. Akpan Ekong stressed that the over 121 hectares of land is too big to be managed by Global Resource Management Free Zone Company (GRMFZC).

Ekong insisted that the zone operator’s continued stranglehold on 121 hectares of land at Tarkwa Bay in Lagos has hampered the federal government’s efforts to attract investors to the Lagos Free Zone.

Ekong disclosed that for over 20 years that LADOL has been managing the zone, a large chunk of the 121 hectares of land has remained undeveloped because

of the operator’s apparent lack of capacity to form alliances with local and foreign investors to boost developments at the FZ. He said these overlapping and conflicting roles have resulted to exorbitant charges that scared away investors, thus defeating government’s objective of making the FZ an investment hub.

Also speaking, Warri , Delta State-based analyst, Mr. Nelson Peters also pointed out that as the agent of regulator (NPA), LADOL also exercises governmental and regulatory powers over all free zone enterprises within the zone.

“It is evident that this monopolistic tendency has frustrated the free zone operator’s crucial role of attracting investors as it now focused on pursuing its pecuniary benefits at the detriment of the foreign and local investors in the zone and the Nigerian economy,” he added.

2023: Oke Ogun Traditional Rulers Endorse Lawan for Presidency Deji Elumoye in Abuja Traditional rulers and leaders of thought from Oke Ogun area of Oyo State yesterday advised the President of the Senate, Dr. Ahmad Lawan, to have a shot at the presidency in 2023 having excelled as a parliamentarian since 1999.

This is coming barely 48 hours after Lawan denied having interest in the 2023 presidential race.

The leaders, including

traditional rulers and politicians from the zone, made the call while paying a courtesy visit on the Senate president after attending the public hearing on a bill seeking the establishment of Federal University of Agriculture and Technology in Oke-Ogun, Oyo State.

Speaking on behalf of the delegation, Ahmed Raji (SAN), told the Senate president that the traditional rulers and political leaders from the zone would be happy if the planned federal

university is established and Lawan becoming its Visitor in the nearest future.

He said: “Mr. Senate president, we have followed your trajectory over the years, and we are happy to submit that while in the House of Representatives, you made your impacts felt and in the Senate, you have made your marks.

“The people of Oke- Ogun want you to use such trajectory in getting the planned Federal University of Agriculture and

Technology passed into law and implemented. They will be happy to see you as a Visitor to the university in the nearest future while our son, Senator Abdulfatahi Buhari, serves as the host governor.”

He expressed concern that of all the 30 federal institutions in Oyo State, not a single one is sited in Oke-Ogun despite having 60 percent of the landmass of the state and 10 out of the 33 local government areas.

Nasarawa Gov Presents N62.96bn Revised Budget to Assembly Igbawase Ukumba in Lafia The Nasarawa State Governor, Mr. Abdullahi Sule, has presented a revised budget of N62.96 billion for the 2020 fiscal year to the state’s House of Assembly for approval.

The revision of the budget was brought about by the negative effects of COVID-19 pandemic disease on the economy.

Speaker of the State Assembly,

Mr. Ibrahim Balarabe Abdullahi, announced the presentation of the revised budget yesterday during the assembly’s proceedings in Lafia.

“The revised budget, according to Abdullahi, was tagged “the Budget of Inclusive Development.”

He also announced that the assembly has expeditiously passed the 2020 Appropriation Amendment Bill of the sum

N62.96 billion into first and second reading respectively in furtherance of the state’s legislator’s commitment to ensure the success of Sule’s administration.

The speaker said: “The accelerated passage was due to the importance of the budget to the development of the state as a result of COVID-19 pandemic ravaging the world.

“The recurrent expenditure

is N31,943,912,285.00 while the capital expenditure is N26,465,632,374.00 and the consolidated revenue fund charges is N4,558,803,479.00,” he said.

The speaker also committed the revised budget to the House Committee on Finance and Appropriation for its necessary action and to report back to the assembly on July 22, 2020.

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TUESDAYSPORTS

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

Cambiasso, Bergomi Slam Osimhen for Changing Agent Super Eagles forward to switch agent during negotiations with the Naples-based club.

Osimhen who visited the Even as Napoli fans are Serie A club with his agent in anxiously waiting for the arrival the middle of the negotiation of Nigeria and Lille player, to meet with the club Owner, Victor Osimhen, former Real Aurelio de Laurentiis and Madrid midfielder, Esteban Manager Gennaro Gattuso, Cambiasso, and Inter Milan was reported to have severed legend, Giuseppe Bergomi, have relations with his French agent, questioned the decision of the Jean-Gérard Benoît Czajka, for reasons not too clear.

Czajka who is the founder of Matching SporInternationalwas alleged to be negotiated bonuses for himself during contract talks with Napoli.

This is believed to have prompted Osimhen to switch to controversial agent William D’Avila, who has close ties with several Super Eagles players.

In a chat with Sky Calcio Club broadcast (via Area Napoli), Cambiasso was reported to have said : “If I too have changed as many agents as Victor Victor Osimhen...slammed for switching Osimhen did, complicating agent in middle of negotiations a negotiation like the one Duro Ikhazuagbe with agency report

with Napoli?

“Honestly not. I had my father, I trusted him; then my brother managed me. These things, in short , I did not do them.

“It is also true, however, that football has changed in some

respects over the years,” observed the former Madrid Star.

Similarly, Italy’s 1982 World Cup-winning defender, Bergomi added : “I have never behaved this way either. I, however, went to talk to the club alone

or, at best, with my mother.

“That’s right: once my mother came with me and, seeing that I wanted to raise the requests for engagement, she said to me: ‘Beppe, leave it alone: take what they have

offered you, it’s good money.”

D’Avila, Osimhen’s new agent handles the affairs of players like; Oghenekaro Etebo, Emmanuel Dennis, Henry Onyekuru and Anderson Esiti.

Covid-19 Knocks off 2020 Ballon d’Or The Ballon d’Or for the world’s best players will not be awarded in 2020 because of a “lack of sufficient fair conditions” created by the coronavirus pandemic.

The prize has been awarded

by France Football every year since 1956.

Barcelona’s Lionel Messi won the men’s prize last year, with USA forward Megan Rapinoe claiming the women’s trophy.

France Football said awarding a prize in a “crippled” year would “not be worthy” of their history.

“We did not want to put an indelible asterisk on the prize list like ‘trophy won in exceptional circumstances due to the Covid-19 health crisis’,” it added.

“Protecting the credibility and legitimacy of such an award also means ensuring its flawlessness over time.”

England’s Stanley Matthews was the first winner of the award when it was the European Footballer of the Year.

It was only awarded to European players until 1995, when it expanded to become open for any player at a European club.

Current President of Liberia, George Opong Weah became the first and only African to date to win the award in 1995. From 2007 it opened up to the rest of the world.

The 30-player list of nominees is compiled by the editorial staff of the French magazine, with the winner voted for by journalists from around the world, with one representative per nation.

Argentina international Messi won the prize for a record sixth time last year.

FK Tirana’s President Hails Egbo over Club’s 27th League Title President of Albanian club, FK Tirana, Refit Halili, has heaped plaudits on his Nigerian gaffer, Ndubuisi Egbo, after guiding the club to their 27th league title win last Sunday.

The former Super Eagles goalkeeper made history as the first Nigerian manager to win a silverware with any European club.

Tirana were confirmed champions of the 2019/20 Albania SuperLiga season after second-place Kukesi lost 1-0 to Vllaznia at the weekend.

That result ensured that Tirana currently on 69 points, were now seven points ahead of Kukesi with just two games (of six points) left to play.

The club will also compete in the UEFA Champions

League next season.

“Egbo is the first foreign coach to receive the title of champion of Tirana.

He has made an extra contribution. I take this opportunity to thank Kosta and Khafa as well as the directors, spokesman, the director of the stadium,”Halili told a news conference on Monday. ”Special support has been given to us by the fans, which has been a precious asset.

“We will sit down with Egbo to talk about what we will do for Champions League. If we agree, we will continue, if not we will continue with another coach.”

Egbo, who worked as Tirana’s goalkeeping coach for five years was appointed manager of the club in December 2019 and won the title in his first season in charge.

Samuel Kalu...tests positive for Covid-19

Samuel Kalu Becomes Second Nigeria Player to Test Positive for Covid-19 Samuel Kalu has become the second Super Eagles player to test positive for the Covid-19 after Genk striker Paul Onuachu did.

Earlier yesterday, it was reported that Kalu is still

stranded in Nigeria due to travel ban caused by the pandemic.

However, Scorenigeria.com. nglater reported that the winger has been in quarantine at his home in France after he tested

positive for Covid-19.

This has accounted for his absence at the pre-season camp of Ligue 1 side Bordeaux which started yesterday.

The Ligue 1 club had on July 6 announced that one of their

players had tested positive for Coronavirus but did not reveal his identity.

Kalu, 22, is now expected to rejoin the rest of the squad on July 27 should he turn in a negative test.

Sahara Group, Grand Master Amin Boost Youth Empowerment in Africa through Chess Leading energy conglomerate, Sahara Group and Chess Grandmaster, Dr. Bassem Amin, are set to unlock the “pursue your passion” gambit in young people in Africa through a Chess Masterclass session via Zoom to mark the International Chess Day that is celebrated every July 20.

Scheduled to hold on July 24, 2020by 5PM (WAT), the session will provide a platform for Dr. Amin to share insights on recent global trends in chess moves and how his passion for chess drove his desire to keep his dreams alive in the face of challenges and disruptions that life throws at people.

An Egyptian chess player and medical doctor, Amin was awarded the title Grandmaster by the International Chess Federation (FIDE) in 2006. Amin is the highest rated player of Egypt and Africa.

“It is an established fact that pursuit is usually the proof of desire. Taking that step of pursuit

is often where most young people run into hitches. Hopefully, the session with Dr. Amin and his chess story will rekindle the waning flame of pursuit and inspire African youths to take their interest in chess to greater heights,” said Bethel Obioma, Head, Corporate Communications at Sahara Group.

Expressing delight at the partnership with Grand Master Amin, Obioma said Sahara Group remained committed to connecting people with opportunities through the extrapreneurhip platform driven by Sahara Foundation.

“What we have here is a collaboration between a foremost energy conglomerate in Africa and the continent’s most decorated chess player to give African youths another reason to believe, innovate and deliver a resounding checkmate on all odds against their passion.”

GM Amin said: “Chess is life, I do believe this. You must have goals and dreams and work

hard to achieve them. Playing chess has helped me to realize this and enabled me to achieve my goals both over the board and in my life. I look forward to inspiring young people with my story through this collaboration with Sahara Group.”

As part of the celebration, Sahara Group also plans to launch a #checkmatecovid19challenge to raise more awareness about

the pandemic. The challenge will involve chess players sending in pictures of interesting checkmate positions via Instagram with the caption: “#checkmatecovid19 with clean hands, facemasks and social distancing”.

“Details of the competition will be on Sahara Group’s Instagram handles, @ iamsaharagroup and @saharapcsr,” observed Obioma.

Egyptian Chess Grand Master Bassem Amin...Set to inspire youths via Zoom conference

Kamaru Usman Gets Six Months ‘Medical Suspension’ from UFC UFC Welterweight Champion, Nigerian-born Kamaru Usman has been handed a massive 180day medical suspension after breaking his nose against Jorge Masvidal.

The ‘Nigerian Nightmare’, 33, suffered a broken nose as he retained his UFC welterweight title penultimate weekend.

He will also be forced to avoid any contact for at least three weeks while the nose heals.

Meanwhile, Masvidal, 35, will miss a month himself due to a forehead laceration sustained in his defeat.

The American veteran took the fight on just six days’ notice but failed to pull off a miraculous

win.

Masvidal has now been handed a 30-day medical suspension to allow a nasty gash on his face to heal.

As with Usman, he will be forced to avoid any contact work for three weeks.

Usman eventually managed to battle to victory over Masvidal

Usman eventually managed to battle to victory over Masvidal Usman had been expected to next fight Gilbert Burns, his original opponent at UFC 251 before his positive test for coronavirus.

But Usman has insisted he has another ideal candidate on his mind – former two-weight world champion Georges St-Pierre.

Tuesday July 21, 2020

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Price: N250

MISSILE Masari to Opposition “Most of the bandits and Boko Haram attacks facing the northern part of the country are sponsored by some politicians who are enemies of the present APC government at both federal and state” – Katsina State Governor, Aminu Masari, holding the enemies of APC responsible for the attacks by bandits and Boko Haram in the North.

TUESDAY WITH REUBENABATI abati1990@gmail.com

NDDC and Other Stories I

t is a show of shame isn’t it, what is going on at the Niger Delta Development Commission (NDDC)? Established in the year 2000 to assuage the fears of the people of the Niger Delta and address their concerns about the lack of infrastructural development in the region, despite the region’s contributions to the sustenance of Nigeria, it is sad to see how like all good initiatives gone bad in Nigeria, this interventionist agency has become, or has been exposed as a festering sore upon the wound of the Niger Delta.

From personality clashes to sordid tales of mismanagement of funds, contractors that collect mobilization fees and simply take a walk, politicians in the National Assembly feeding fat on Niger Delta resources, and reports of terrifying wasteful expenditure and the conversion of every event or situation: graduation ceremonies and even COVID-19 into an opportunity to empty the people’s till, the stench from the NDDC stinks to the heavens.

In the past week, we have been treated to the kind of melodrama an artist may never have imagined, complete with the stuff of a fainting fit, a failed romantic attempt, a woman scorned, and hell breaking loose and a once self-styled uncommon Governor as the deutragonist.

It is this latter part of the plot that has excited, amused and fascinated Nigerians.

The protagonist is Joi Nunieh, the former Acting Managing Director of the Interim Management Committee (IMC) of the NDDC (October. 2019- February 2020) who left the commission rather abruptly due to a yet unproven allegation around and about her NYSC certificate and so-called “insubordination”.

In the course of a forensic audit of the agency ordered by President Muhammadu Buhari, it is noteworthy that all the hidden corpses in the NDDC especially within the last one year began to show up, and some of those ghosts emerged in the form of financial sleaze and broken alliances and failed relationships. The supervising Minister of the Commission, the Minister of Niger Delta Affairs, Senator Godswill Akpabio, a once powerful PDP chieftain, turned an APC floor member, went on television to offer his perspective on what transpired at the NDDC (he must be regretting doing so); rather than address the issues, he launched an attack on Joi Nunieh, who worked briefly as Acting Chairman of the NDDC. He complained about how the lady had married four husbands and called on those four men, who, if they exist at all, have lent themselves common sense and stayed off the radar. The Minister also made an allusion to Joi Nunieh’s state of health. Of course, she didn’t take it lying low. She seized the occasion with every ounce of oxygen in her body and smashed the table on which Akpabio leaned his bulky frame in the studio. In the course of her now famous interview on Arise TV, we were treated to the sub-plot of how Akpabio failing to dictate to her or control her actions adopted a “Plan B,” which is basically a plan to “entangle” her in “the other room.” She disclosed that what the “uncommon former Governor” from Akwa Ibom State got in response was an “uncommon slap in the face”. It must have been one of those hot, dirty, blinding slaps that result in a momentary loss of vision and a loud scream of Ye!. Akpabio as Governor used to refer to Akwa Ibom as “Gilgal.” His current travail is like a journey from Gilgal to

Akpabio Golgotha. He insists that Joi Nunieh is lying.

He says he has asked his lawyers to go to court.

You probably know the rest of the story: how things went downhill afterwards: the attempt to arrest Joi Nunieh at her Port Harcourt residence, a detachment of about 50 policemen knocking on the gates, smashing doors as if they were after a Colombian drug lord, Governor Nyesom Wike’s ironic, swashbuckling gallantry (can you imagine a PDP Governor protecting an APC member from members of her own party?), the sordid spectacle of the current Acting Chairman of the NDDC, Professor Keme Pondei walking out on the House of Representatives Committee on the NDDC, after practically accusing the Chair of the Committee of being an interested party in the matter, and the same Committee issuing a warrant of arrest to call Pondei to order.

Earlier, the same Professor Keme Pondei allegedly disclosed how members of the IMC which he leads spent N1.8 billion on themselves alone as COVID palliative within three months! When he eventually showed up at the House of Representatives yesterday, and he was reminded that he and his colleagues had helped themselves to funds that were not covered in the approved NDDC Budget, he started fanning himself in an air-conditioned room and before anyone knew it, he slumped atop his table! His detractors argue that he was merely playing his role: an Acting MD, acting out a scene in the NDDC drama.

Stakeholders within the NGO community who claim that they have been monitoring the NDDC for years, in fact, suggest that we haven’t seen anything yet and that if a thorough forensic audit is conducted, Nigerians will be shocked beyond their marrows. But can anything be worse than what we have seen and heard so far? These stakeholders also argue that all the drama that our eyes have seen so far is at best a distraction and an orchestrated cover up attempt. The only problem is that the Niger Delta NGO community has also been fingered in some of the stories for having received patronage from the NDDC for work not done. If indeed things get more curious, a list of beneficiary-NGOs may surface, and we may all get busy struggling to lift the veil.

We should be watchful. A Professor slumped yesterday. Someone else could have a heart attack tomorrow!

But where are the people of the Niger Delta in all of this? What are their views on the on-going controversy? They are the ones who have been short-changed the most. The NDDC, originally OMPADEC, was part of a series of policy measures including derivation, ecological fund, and infrastructure development plans to address the marginalization of the Niger Delta people, check youth restiveness in the region and promote peace and stability.

Since inception, the NDDC has been managed by persons from the Niger Delta. A Ministry of the Niger Delta was also created, and to date, only persons from the Niger Delta have headed that Ministry. And yet all of these issues! The usual tendency is to say that the NDDC was designed to fail, but that is certainly not true. The goal was principled – to bring development to the Niger Delta. It will also be incorrect to say that the people have not seen any development at all. In 1999, parts of the Niger Delta were in a complete mess. I recall visiting Yenagoa in 2000. The Governor then was the late Governor-General of the Niger Delta, the famous Diepreye Alamiyesiegha.

Yenagoa, the state capital had only one visible road, which looked like something constructed in the 1960s. I saw one bank: the defunct All States Trust, I believe. And one fuel station with a broken, solitary, pump. And there was a higher education college whose female students were friendly and hospitable beyond comparison! Today, Yenagoa looks different, and the same may be said of other areas of the Niger Delta. The improvement does not go far enough, however, because the major threats to the people’s lives: critical infrastructure like the East-West Highway, environmental crisis, and unemployment remain visible.

Governors of the Niger Delta since 1999 may claim credit for this improvement that we have seen but the perception in Nigeria is that the OMPADEC/NDDC intervention has helped to some degree resulting in the request by other regions for a similar intervention agency.

Nonetheless, recent revelations that contractors and officials of the NDDC have been busy pilfering the funds of the Commission is at best stupefying, the sheer scale of it is benumbing.

The N81.5 billion that was allegedly diverted within two months sounds like enough money to transform the health sector in parts of the Niger Delta in a season of COVID-19. So, this is not the time for the people of the Niger Delta to make the usual defensive point that anybody from the Niger Delta is entitled to take Niger Delta money. The view that “it is our money taken by our children” is unacceptable. The Niger Delta struggle was based on the ideals of justice, equity, development and progress, no latter-day revisionist should impose on the people of the Niger Delta, a Barkin Zuwo philosophy. I bring this up because I have read some comments by some members of the Niger Delta elite insisting that the big issue is that the NDDC has not been properly funded and that the thing to do is to release all outstanding funds to the Commission. Is that why the trillions in contention had to be mismanaged? Is that the issue on the table?

There should be a more robust conversation about the development process in the Niger Delta beyond the confusing argument that this

is a conflict between “a political Niger Delta” and “a geographical Niger Delta” or that the only way forward is to throw in more money.

President Muhammadu Buhari has ordered two major audits in recent times: the audit of the Niger Delta Development Commission and that of the Economic and Financial Crimes Commission (EFCC). Both should be taken as a personal reaffirmation of his commitment to one of the major planks of his proposed legacy at the inception of his administration in 2015: that is the fight against corruption. But beyond the anti-corruption battle, there is an emerging downside to the Buhari administration: the constant bickering, the cult of personality and the externalization of battles over territory within the government. In a Presidential democracy, a President appoints persons to assist him, he delegates authority to them and they are required to help him achieve the objectives of his administration. Under President Buhari, the in-fighting among his team conveys the impression that many of his appointees are either not interested in his own objectives or they are on a frolic of their own. We have had the Director General of the Nigerians in Diaspora Commission at logger heads with the Minister of Communications over office space; Minister of Information vs. DG National Broadcasting Commission (NBC), Minister of Labour and Employment vs. MD NSITF, Joy Nunieh vs Godswill Akpabio; Minister of Health vs. Executive Secretary, NHIS, AGF Malami vs EFCC Chair Magu, DSS vs. EFCC, First Lady vs. Presidential aides…all fighting-to-finish as if “Oga is not around”. They have done so much damage. Five years ago, the fear of Buhari’s war against corruption was the beginning of wisdom Today, his own appointees and political associates have messed up the message and strategy. The economy is in bad shape. The war against terror is not working…

Whatever is happening is a wake up call and an opportunity for Mr. President to steady the ship. He needs to rescue his government from ambitious and disloyal individuals and strengthen the institutions of state. He should disband the present Interim Management Committee of the NDDC and sack the Minister of Niger Delta Affairs. The Board of the NDDC as provided for in the Enabling Act should be immediately constituted. The audit of the Commission must be totally independent without any interference. The major challenge at the NDDC is that politics has been placed above development objectives. That must change with appropriate mechanisms put in place. On the war against corruption, the Independent Corrupt Practices and Other Offences Commission (ICPC) should also be audited. Thereafter, it should be merged with the EFCC. The new EFCC should then be unbundled. It should have autonomous departments: an investigation department, a prosecution department and an enforcement department, all headed separately by professionals who will not be required to report to one individual. The EFCC must also be disengaged from the Nigerian Police. Since inception, only policemen have led the EFCC. How about neutral persons or graduates of the EFCC Academy that has produced many officers who have enjoyed international training and who joined the EFCC with the hope that they were looking forward to a career? The President must restore dignity and respect to the governance process.

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