THURSDAY 29TH JULY 2021

FDC: Ending FX Sale to BDCs Disrupts ‘Juiciest Economic Racket’ Says Nigeria spending more on bureau de change than debt service Naira depreciates to N525 on parallel market, stable on I & E window

Obinna Chima and Nume Ekeghe By putting an end to the sale of

foreign exchange (FX) to Bureau De Change (BDC) operators, Governor of Central Bank of Nigeria (CBN), Mr. Godwin

Emefiele, has “disrupted one of the juiciest gravy trains in the Nigerian economic racket,” Financial Derivatives Company

Limited (FDC) has stated.

However, the naira depreciated to N525 to a dollar yesterday on the parallel market, lower than

the N505 to a dollar it traded on Tuesday after the central bank announced its discontinuation of FX sale to BDCs. But on the

Investors and Exporters’ (I & E) window, the naira exchange rate against the dollar closed at Continued on page 10

OPEC: Nigeria May Be Hard-hit by Declining Investment in Oil Sector...Page 5 Thursday 29 July, 2021 Vol 26. No 9607. Price: N250

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S’Court Judgment in Ondo Governorship Sets Off Another Legal Crisis in APC Keyamo, Ajulo warn ruling party of dire consequences of keeping Buni PDP to Yobe Gov: Resign now, your position in APC is illegal Buhari: Judgment brightens APC’s chances in future polls Akeredolu: Thank you judiciary for not yielding to influence Deji Elumoye, Chuks Okocha, Adedayo Akinwale, Alex Enumah in Abuja and James Sowole in Akure With the congresses of the ruling All Progressives Congress (APC) slated to commence this weekend, yesterday’s Supreme Court ruling in the Ondo State governorship election, which

upheld the victory of Governor Rotimi Akeredolu, SAN, might have inadvertently set off another round of crisis in the party.

Akeredolu’s victory, which rested on a split judgment of four against three out of the seven justices on the election panel, had managed to scale through Continued on page 10

After Over Five Years in Detention, Court Frees El-Zakzaky, Wife

Says El-Zakzaky and wife have committed no offence John ShiklaminKaduna A Kaduna State High court presided over by Justice Gideon Kurada, has discharged and acquitted leader of the Islamic Movement in Nigeria (IMN)

also known as the Shiite group, Sheikh Ibraheem Zakzaky and his wife, Zeenat, after over five years in detention.

Addressing journalists shortly after the court session Continued on page 10

ROYAL VISIT TO OLU OF WARRI DESIGNATE...

The Dein of Agbor Kingdom, His Majesty, Dr. Benjamin Ikenchukwu (left) and Olu of Warri Kingdom, Omo Oba Tsola Emiko, during the Dein's visit to the new Olu...yesterday.

Tokyo 2020: Nigeria’s Usoro, Ofili, Eight Others Disqualified over Missed Dope Tests... Page 46

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NEWS OPEC: Nigeria May Be Hard-hit by Declining Investment in Oil Sector Urges the FG to diversify economy Cartel calls for deployment of tech to reduce carbon emissions Group News Editor: Goddy Egene

Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322

Emmanuel Addeh in Abuja The Organisation of Petroleum Exporting Countries (OPEC) yesterday warned that with declining investments in the global oil and gas industry, Nigeria’s economy as well as that of other resource-dependent countries may be the badly affected, especially if the current push against fossil fuels continues to gain ground.

The international oil-producers’ cartel, therefore warned Nigeria to ramp up efforts to diversify its economy to avoid being caught off guard by the projected crisis, which it reiterated would require a global cumulative investment of $12.6 trillion in the upstream, midstream and downstream between now and 2045 to resolve.

Speaking at the 14th edition of the Nigerian Association for Energy Economics (NAEE) Annual International Conference in Abuja, the Secretary General of OPEC, Dr. Sanusi Barkindo, noted

that nations like Nigeria now face a, “triple whammy”, including the impact of COVID-19, which has crippled the economies of poorer countries more than wealthier ones.

The theme of the three-day conference was: “Strategic Responses of Energy Sector to Covid-19 Impacts on African Economies,” and it was organised in collaboration with the International Association for Energy Economics (IAEE).

Investments in the oil and gas sector have been on a downward spiral, following boardroom pressures on Internally Oil Companies (IOCs) and increasing push by Civil Society Organisations (CSOs) to cut funding for fossil fuels and refocus their attention on growing renewable sources of energy.

But Barkindo noted that nations to be mostly affected have less cushion in place to deal with

the devastating health and socio-economic outcomes of the predicted situation as well as less ability to immunise their citizens quickly.

The OPEC helmsman stressed that the pandemic has had a devastating effect on the oil industries of poorer countries, pointing out that the accelerated energy transition in the light of the pandemic was encouraging a move away from fossil fuel usage and investment in addition to the likely suffering emanating from the effects of climate change.

“The energy security risk that would result from too little investment would heavily impact both producers and consumers.

Oil-producing developing countries, like Nigeria, would be particularly hard hit. History has shown that energy insecurity brings with it economic insecurity and geopolitical instability.

“All OPEC members, including Nigeria, will have to re-strategise

to maintain their positions in the new global energy mix, including focusing on economic diversification. Oil-producing countries, and in particular African countries that rely on oil and gas production for revenues, must create an investment friendly climate,” Barkindo stated.

The former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), however posited that with the passage of the Petroleum Industry Bill (PIB), there was renewed hope in reviving the fortunes of the oil and gas industry in Nigeria.

According to the OPEC boss, reduced Foreign Direct Investments (FDI) into Africa’s oil industry could be catastrophic for many countries, noting that OPEC was greatly concerned about increasing pressure on the oil industry coming from many sides, including decision-makers, along with investors.

“Even within the boardrooms

A VOTE FOR CONSENSUS CANDIDATE… L-R: Former Lagos Deputy Governor, Dr. (Mrs) Oluranti Adebule; APC Lagos Caretaker Chairman, Alhaji Tunde Balogun; Governor Babajide Sanwo-Olu; Prince Tajudeen Olusi; Prince Rabiu Adio Oluwa and Otunba Busura Alebiosu, during the Governor’s Advisory Council media briefing at Lagos House, Marina... yesterday

FG Meets ASUU Tomorrow to Resolve Pending Issues UTAS has met all criteria, says union Onyebuchi Ezigbo in Abuja The Federal goverment and the leadership of the Academic Staff Union of Universities (ASUU) will meet tomorrow, Friday to iron out issues relating to the allegations raised by the lecturers regarding non-implementation of their agreement with the government last December.

Confirming the meeting date to THISDAY in a telephone interview on Wednesday, ASUU president, Professor Emmanuel Osodake said, the meeting was at the instance of the Minister of Labour and Employment, Senator Chris Ngige and was scheduled to hold at the Ministry's conference room in Abuja.

He said: "We have met with the Minister of Labour and Employment, Senator Chris Ngige and promised to reach out to us. He has called us for a meeting on Friday.”

Osodake said the union has

not issued any strike threat but what it did was to put the federal government on notice for it to ensure the implementation of the agreement signed with ASUU before national executive committee meeting of the union coming up in August.

Speaking on some of the key areas that government has not attended, Osodake said, "The key areas include, the issue of Integrated Personnel and Payroll Information System (IPPIS) and payment of salaries of lecturers through the University Transparency and Accountability Solution (UTAS), non payment of outstanding salaries of the lecturers, payment of second tranche of the Earned Academic Allowance and the issue of renegotiation of the 2009 agreement."

He said that by the agreement, the government was supposed to have cleared outstanding salaries of ASUU members running into 15 to 16 months.

The salaries accumulated during the last nationwide strike action, when the federal government was forced to implement the no-work, no-pay rule.

The order was however cancelled by President Muhammadu Buhari as a measure of goodwill to get ASUU to suspend its six month old Industrial action.

Osodake also said goverment has defaulted in the payment of arrears of Earned Academic Allowance by not releasing fund for the second tranche due in May this year.

He further complained that his members have been subjected to excessive deductions in the name taxes, thus leaving most of them with half of their original salary.

When asked to give update on the progress made on UTAS, which has been undergoing trials and evaluation by the Accountant Generals Office and the Nigerial Information

Technology Development Agency (NITDA), Osodake said the payment App was referred to NITDA since January this year and since the agency had failed to respond to its enquires as to what was the outcome of its assessment.

Reacting also to a statement by the Public Relations Officer of the Federal Ministry of Education that UTAS being proposed by ASUU did not factor in means of tax deduction from the salaries of the university teachers, Osodake described it as unfounded.

"I think the officer, who made that statement was exhibiting ignorance or was out to cause confusion. If you talk to the Ministers of Education and Labour and other key stakeholders including the Senate President and the Accountant General, they will tell you that UTAS has been duly presented to them and that it has met all the requirements for use in making payments in the universities," he said.

of oil majors, the push is strong to strive for policies and initiatives that could have a drastic negative effect on oil-producing countries.

Oil is the lifeblood of our country, thus the importance of this issue cannot be underestimated.

“The Environmental, Social and Governance (ESG) criteria are being written without considering the unique circumstances of developing countries. This was seen recently in a Dutch courtroom.

“Royal Dutch Shell was ordered in a landmark case in May to reduce global carbon emissions by 45 per cent by the end of 2030 compared with 2019 levels — extraneous to the provisions of the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement,” Barkindo said.

He pointed out that environmental activists have now secured support from investors to install international oil company board members with a stronger focus on climate, while there has been a blanket rejection regarding new investment in the fossil fuel industry by investors where climate-related risk disclosures are now to be included as legal requirements.

In May the International Energy Agency (IEA), a strong voice against the continued use of fossil fuels released a publication entitled ‘Net Zero by 2050’, which focuses on emissions to the exclusion of demand and supply, and raises many questions related to implementation and possible implications.

Listing the IEA conditions for meeting zero carbon emissions by 2050, Barkindo stated that it includes the proposition that there will be no need to invest in new fossil fuel supply after 2021.

In addition, the IEA report, Barkindo noted, also sees no new sales of fossil fuel boilers after 2025 while 60 per cent of global car sales should be electric with no new Internal Combustion Engine (ICE) car sales after 2035 globally and 50 per cent of heavy truck sales being electric from 2035.

As a result of this, he said that primary energy demand could drop by seven per cent below 2020 figures, even though the economy would be twice as large and the world’s population two billion people larger.

“Naturally, a massive drop in oil demand would be expected to follow. These postulations would be catastrophic to the economies of oil-producing developing countries and by extension the world at large,” he projected.

He predicted further that this may be followed by litigations which could continue and may expand to oil-producing developing countries, urging members to help steer the global conversation and influence policymakers to understand the “folly of this direction”.

Barkindo said rather than push for the end to fossil fuels, the world needs to tap into all technology available to reduce emissions; work together with IOCs to present a common case in litigation; and engage in multilateral platforms, including the UNFCCC, to present oilproducing developing countries’ position.

He argued that energy poverty continues to disproportionately

impact millions across Africa, stressing that OPEC data show that an estimated 47 per cent of Sub-Saharan Africans have no electricity and 85 per cent lack access to clean fuels and technology for cooking.

He explained that access to energy enables development and must be viewed as a human right, stressing that the inequalities which were in place before the pandemic stand to be amplified.

“We must build resilient, sustainable, equitable and inclusive societies in the face of the energy transition,” he argued.

He maintained that oil has a powerful role to play in the energy transition, “and it should not be swept under the rug based on old credentials”.

“With the help of technology, our industry can become low carbon or even zero-carbon. This includes technologies already being implemented such as carbon capture, utilisation and storage.

Additionally, great strides have been made in efficiency gains in the industry, along the entire production chain.

“It is essential that one compares the lifetime credentials of each source of energy in terms of emissions. For example, electric cars may appear cleaner, but emissions are buried in many of the industrial process required to produce them,” he emphasised.

“The transport sector — particularly road and aviation transport — will see a return to pre-COVID levels much later.

Road transport is expected to recover by sometime in 2023 and aviation in 2024. These figures assume that the pandemic will be contained within this year,” he added.

Some other participants at the open session included the President of NAEE, Prof Yinka Omorogbe, a founding member of the association and former president, Prof. Adeola Adenikinju, a renowned industry expert, Prof. Wunmi Iledare as well as Managing Director of Waltersmith Petroman, Mr Chikezie Nwosu.

Meanwhile, Deputy Prime Minister of the Russian Federation. Mr. Alexander Novak, has lauded Nigeria’s Barkindo for his invaluable contribution to stabilising the oil market, despite the recent crisis.

In a letter he wrote to the OPEC scribe, Novak reaffirmed the commitment of the Russian side to the development of the constructive cooperation with OPEC both within the framework of the bilateral dialogue and in the OPEC/non-OPEC format – based on trust, mutual respect and recognition of interests for the benefit of oil producers and consumers.

“I share your high assessment of the efficiency of our cooperation within the OPEC/non-OPEC format and, in this regard, would like to underline your invaluable personal contribution as OPEC secretary general to the joint decisions that ensure the stability and predictability of the world oil market.

“I believe that in the conditions of continued uncertainty in the development of the global economy, the significance of the coordinated work in order to maintain the stability of the global energy markets will only increase,” he stated.

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NEWS

US Congress Pressures Biden to Reassess USNigeria Relations over Human Rights Records Halts planned sale of 12 attack aircraft, 28 helicopter engines worth $875m Kingsley Nwezeh in Abuja with agency reports United States lawmakers have begun to mount pressure on President Joe Biden over concerns about Nigeria's human rights records.

Already, a proposed sale of 12 attack aircrafts and 28 helicopter engines worth $857 million has been put on hold.

Democrats and Republicans on the Senate Foreign Relations Committee have delayed clearing a proposed sale of 12 AH-1 Cobra attack helicopters and accompanying defence systems to the Nigerian military, pausing a deal worth some $875 million, according to U.S. officials and congressional aides familiar with the matter.

In addition to the helicopters, the proposed sale included 28 helicopter engines produced by GE Aviation, 14 military-grade aircraft navigation systems made by Honeywell, and 2,000 advanced precision kill weapon systems—laser-guided rocket munitions, according to information sent by the State Department to Congress and reviewed by Foreign Policy, a US-based magazine.

It said the behind-the-scenes controversy over the proposed arms sale illustrated a broader debate among Washington policymakers over how to balance national security with human rights objectives.

It said the hold on the sale also showcased how powerfully the US lawmakers wanted to push the Biden administration to rethink the country’s relations with Africa’s most populous nation amid overarching concerns that Nigerian President Muhammadu Buhari was drifting towards authoritarianism as his government has been besieged by multiple security challenges, including a jihadist insurgency.

Foreign policy observed that Western governments and international human rights organisations had ramped up their criticisms of the Nigerian government, particularly, in the wake of its ban on Twitter, systemic corruption issues, and the Nigerian military’s role in deadly crackdowns on protesters after widespread demonstrations against police brutality last year.

Chairman of the Senate Foreign Relations Committee, Senator Bob Menendez, called for a “fundamental rethink of the framework of our overall engagement” with Nigeria during a Senate hearing with U.S. Secretary of State Antony Blinken in June.

Both Menendez and Senator Jim Risch, the top Republican on the Senate Foreign Relations Committee, have therefore placed a hold on the proposed arms sale, according to multiple U.S. officials and congressional aides familiar with the matter, who spoke to Foreign Policy on the condition of anonymity.

The details on the proposed sale were first sent by the US State Department to Congress in January before then former US Vice President Joe Biden was inaugurated as president, according to officials familiar with the matter.

Nigeria has relied on US arms sales in the past to help address multiple security challenges, including the 12-year insurgency

by Boko Haram militants in the

country’s northeast, a spate of high-profile kidnapping-forransom campaigns targeting schoolchildren in the country’s North-west, and deadly clashes between the country’s seminomadic herders and farmers fueled by climate change and environmental degradation of the country’s arable land.

The State Department, it was said, described the US-Nigeria relationship as “among the most important in sub-Saharan Africa” and had provided limited funding for various military training and education programmes.

Some experts said the United States should hit the pause button on major defence sales until it could make a broader assessment of the extent to which corruption and mismanagement hobble the Nigerian military and whether the military was doing enough to minimise civilian casualties in its campaign against Boko Haram and other violent insurrectionists.

"There doesn’t have to be a reason why we don’t provide weapons or equipment to the Nigerian military,” said Judd Devermont, Director of the Africa programme at the Center for Strategic and International Studies, a think tank.

Continuing, he added, “But it has to be done with an assessment of how it will actually, one, change the direction of conflict in Nigeria, and, two, that they will use it consistent with our laws. In both cases, it’s either a question mark or a fail.

There is a culture of impunity that exists around abuses by the military,” said Anietie Ewang, the Nigeria researcher at Human Rights Watch.

Ewang cited the Nigerian military’s killing of unarmed protesters during the country’s massive #EndSARS demonstrations against police corruption and brutality last year as well as cases documented by human rights organisations of abuses in the military’s campaign against Boko Haram.

“I’m sure it’s a difficult situation. There are so many conflicts springing up across the

country now. The authorities, I presume, are trying to do the best they can to save lives and properties. But this must be done in accordance with human rights standards. You can’t throw one out just to be able to achieve the other.”

Nigerian Embassy in Washington did not, however, return a request for comment, foreign policy claimed.

In the past, the Nigerian military had dismissed reports of human rights abuses by its soldiers as baseless and accused human rights groups of undermining the military’s resolve to combat terrorism.

But the United States had scrubbed proposed arms sales to Nigeria in the past on a case-by-case basis.

Former US President Barack Obama’s administration cut back arms sales to Nigeria over concerns about civilian casualties and human rights abuses, including blocking a 2014 sale of Cobra helicopters

by Israel to Nigeria.

During that time, US officials reportedly voiced concerns that Boko Haram had infiltrated the Nigerian military—an accusation that provoked indignation from the Nigerian government.

These moves severely strained US-Nigeria relations, with Buhari accusing Obama of having unintentionally “aided and abetted” extremist groups by refusing to expand military cooperation and arms sales.

In late 2017, then US President Donald Trump’s administration agreed to sell the Nigerian government 12 A-29 Super Tucano warplanes, resurrecting a proposed sale the Obama administration froze after the Nigerian Air Force bombed a refugee camp that January.

The first batch of those planes arrived in Nigeria earlier this month.

A U.S. State Department spokesperson declined to comment on the matter, saying: “as a matter of policy, the department does not confirm or comment upon proposed

defence sales or transfers until they have been formally notified to Congress.”

Under the current practice, the State Department informally notifies Congress through the Senate Foreign Relations Committee and House Foreign Affairs Committee (HFAC) of proposed arms sales in advance of a formal notification.

If committee members raise concerns about the proposed sale, the committees can freeze the sale until they receive satisfactory answers about their concerns from the State Department.

Once a proposed arms sale has been formally notified to Congress, Congress has a 30-day window to review the sale and, if it opposed the sale, it would pass a legislation to block it.

But if Congress took no action, the sale would move forward.

A top Republican on the House Foreign Affairs Committee, Rep. Michael McCaul, has signed off on the proposed sale of Cobra helicopters to Nigeria, a spokesperson for his office

confirmed.

The office of the HFAC chairperson, Democratic Rep. Gregory Meeks, did not respond to multiple requests for comment.

The Trump administration, frustrated with how Congress held up proposed arms sales for months, weighed scrubbing the decades-old practice of informally notifying Congress about arms sales, but it faced steep backlash over the idea from lawmakers.

A bipartisan group of lawmakers is now looking to further extend congressional oversight over US arms sales to foreign countries.

Senatord Chris Murphy, a Democrat, Mike Lee, a Republican, and Bernie Sanders, an Independent, introduced legislation earlier this month aimed at reasserting Congress’s role in foreign policy.

The bill included a provision that would require Congress to actively approve all major sales rather than allow arms sales to be automatically approved unless Congress blocked them.

COAS VISITS GOVERNOR DIRI… Bayelsa State Governor, Senator Douye Diri (left) and Chief of Army Staff, Lt. Gen. Farouk Yahaya, during the latter's courtesy visit to Government House, Yenagoa... yesterday

Fayemi: Govs, FG Working to Bring Sponsors of Banditry, Insurgency to Book Says no one found culpable will be spared Victor Ogunje in Ado Ekiti Chairman of the Nigeria Governors’ Forum (NGF) and Ekiti State Governor, Dr Kayode Fayemi, has said the governors and the federal government were already working together to bringing sponsors of banditry and insurgency in the country to book.

Fayemi, however, assured Nigerians that the federal government would not spare anyone found culpable in the sponsor of banditry and insurgency that had caused deaths and trauma to innocent people of the country.

Fayemi disclosed this in Ado-Ekiti, the state capital on Wednesday, when he received the executive of Federation of Ekiti State Students’ Union (FESSU), the National Female Students’ Association of Nigeria as well as students’ union leaders of

higher institutions in the state.

Speaking during the meeting, which last some time, Fayemi reiterated President Muhammadu Buhari administration's commitment "at ensuring that perpetrators of crimes are brought to book. No room would be allowed for impunity of any kind in the country".

He further disclosed that the NGF under his watch had visited some of the affected northern states like Zamfara, Kebbi and Kaduna, where female students had been abducted and met with the governors to look at how the forum could assist security institutions there to retrieve abducted students.

He explained further that it was the sole task of the states to undertake the responsibility of security and welfare of the citizens not minding the limitations that governors do not control the security apparatus of

their states even as Chief Security Officers in their respective states.

Fayemi said as a result of the emergency declared by the governors last year, about 30 states of the federation had signed the Violence Against Persons Prohibition Act into law within the last ten months.

He added that his administration had encouraged other states and even universities to set up gender-based laws and anti-sexual harassment committees as well as sexual assault referral centres to look after victims of sexual assaults, harassment of whatever kind to stem the tide in that area.

The governor, however, promised to continue to form synergy and collaborate with students and students’ bodies to ensure their welfare and safety wherever they may find themselves in all parts of the country.

“It is a time all of us are concerned about the issue of insecurity and I must thank you for going beyond your immediate issue as students to raise the question that is agitating the minds of all Nigerians, security, particularly, security of our girl child.

"I have had cause over the last month or two to visit Kankara, Jangebe in Zamfara and go to Kebbi, where our female students have been abducted and meet with the governors, look at how we can also assist security institutions to retrieve these abducted children. Not to mention what has been happening particularly in Kaduna State over the last few months.

“Clearly, government has a lot to do to protect our citizens.

The first responsibility we have in the constitution of Nigeria is the security and welfare of citizens. And if we are not able

to achieve all of that, then, we would be said to be failing in our duty and since we don’t want to be seen as failures, I want to reassure you that as governors, we are working collaboratively with the federal government and our security institutions to really stem the tide of insecurity.

“At the Nigeria Governors’ Forum, we declared an emergency against gender-based violence from June 10, 2020. I directed all states to enact laws against gender-based violence and there is a whole range of it, sexual harassment, defilement of children and domestic violence.

"And at the time we declared that emergency, we had 14 states that had signed into law, the violence against persons prohibition act, today, we have 30 states, many in the northern part of Nigeria that had not signed it last year and have now signed it".

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NEWS

Kukah Blames Civil Society for Nigeria’s Present Situation Says they went to bed early Michael Olugbode in Abuja The Catholic Bishop of Sokoto Diocese, Most Revd (Dr) Matthew Hassan Kukah, has blamed the civil society for the country’s current situation, saying it would not have arisen had they not gone to bed early after the country returned to civil rule.

Kukah, however, said it was the situation that allowed the room for charlatans in power.

“The civil society, which paraded men like Olisa Agbakoba, the late Beko Ransome-Kuti, Clement Nwankwo, Chidi Odinkalu and others, went to bed after it succeeded in ushering democracy in the country and allowed the kind of characters we now have in government in the country whom with their misrule have brought Nigeria to a near precipice,” he said.

Kukah, who spoke during a conference on “Civic Space: The Pathway to Social Cohesion and Integration in Nigeria,” said a situation, where the nation’s democracy and those in governance were not put on watch by the civil society has resulted to the confusion, which the country was currently battling with, where members of the National Assembly were contributing their various struggles to see that the civic space was actually closing in instead of opening up.

He lamented that the present situation “we find ourselves was not unconnected with the fact that the nation currently parades so many people who are in

politics without any track record, nor antecedents of engagement with public life.”

He stated that with a close look at the profile of those in power from top to bottom, it was understandable why the system was literally crumbling and why the struggle for human rights was literally now being renewed and why the struggle to recover the public space was now a struggle that Nigerians must renew their energies and be prepared to participate in.

Lamenting that the nation was threading a dangerous path, which has left young people with feeling totally disempowered, Kukah said Nigerians were faced with a nation that consumed its own children.

He decried the fact that Nigerians were also faced with the prospects of an uncertain future, as now “we have Barbarians at the doors.”

He said it was sad that “we are being referred to as rebellious whereas it is those in government that are rebellious,” acting against the wishes of the populace and sometimes the law of the land.

He said the situation the country has found itself was thought to be impossible and even the worst enemy of Nigeria Continued on page 12

PARTNERSHIP TO TAME DRUG ABUSE… Minister for Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouk (left) and Chairman/Chief Executive, National Drug Law Enforcement Agency, NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) , after a meeting with the minister on partnership between her ministry and NDLEA in the area of Drug Demand Reduction at the ministry in Abuja... yesterday

Lagos to Adopt Consensus Arrangement for APC Congresses The Governor’s Advisory Council (GAC), the highest decision-making body in Lagos State All Progressives

Congress (APC), has declared that the party would adopt a consensus arrangement for its ward congress scheduled for

Saturday, July 31 to elect ward executives.

GAC, which comprised prominent leaders of Lagos

Senate Uncovers How Jonathan, Sambo, INEC, FAAN, Others Diverted N665.8bn Directs AGF to ensure recovery of funds within 60 days

Deji Elumoye in Abuja The Senate has uncovered how former President Goodluck Jonathan, his deputy, Namadi Sambo, Independent National Electoral Commission (INEC), Nigerian Army, Federal Airports Authority of Nigeria (FAAN) and some Ministries, Departments and Agencies (MDAs) benefitted from alleged diversion of N665.8 billion Solid Minerals Development and Stabilisation Funds through the Accountant General of the Federation (AGF).

The upper legislative chamber has, therefore, ordered the AGF to ensure that the misappropriated funds in form of loans and Special allocations were recovered and paid back to the Special Funds Accounts within 60 days.

The Senate gave the marching order to the AGF after consideration and approval of the 2015 Auditor-General's report presented at plenary by the Chairman of the Senate Committee on Public Accounts, Senator Mathew Urhoghide.

The Senate at the plenary held shortly before proceeding on its annual vacation approved the recommendation of the committee that the funds diverted between 2004 and 2015 be returned to government coffers within two months.

Two countries namely Ghana and Sao Tome and Principe also benefitted from the diverted stabilization funds to the tune of N847 million.

Breakdown of the beneficiaries showed that N1.5 billion

severance allowance of former President Goodluck Jonathan and Vice President Namadi Sambo were paid from the funds on June 11, 2015, about two weeks after leaving office while the Electoral body, INEC, collected N20 billion from Development of Natural Resources Fund apart from N17.9 billion it received from Brown Rice Levy and Comprehensive Import Supervision Scheme (CISS) Pool Levy.

Another N30 billion was released by the AGF to INEC in 2014 and 2015 for the conduct of the 2015 general election with the breakdown showing that N10 billion was released on July 3, 2014, while N20 billion was released on January 12, 2015, apart from N93 billion appropriated by the National Assembly in 2015 for the conduct of the elections nationwide.

Other beneficiaries of the diverted Solid Mineral Development Funds included Ministry of Foregin Affairs: N3.6 billion, N50 billion to fund budget deficit in 2004; Ministry of Works:N2 billion; Federal Airport Authority of Nigeria: N13 billion; Ministry of Sports: N500 million; Monetization arrears due to PHCN staff: N57.5 billion; N70 billion to accelerate capital budget in 2010; loan to facilitate the funding of Capital budget in 2010: N80 billion;loan to facilitate 2013 Capital budget 4th quarter: N80.7 billion; Loan to Nigerian Electricity Regulatory Commission: N6 billion in 2014.

In addition, N15 billion was released to one Lucius Nwosu as

hudgement debt of N37 billion for Genocide at Odi in Bayelsa State while N14 billion was released to Ministry of Power for Kasshibilla Hydropower Transmission Projects, among others.

The withdrawals from the Stabilisation fund also included N847 million paid to Ghana, Sao Tome and Pricipe for an unspecified purpose, the Independent National Electoral Commission (INEC) also collected N87 billion to commence the fresh voters registration, but paid back N21 billion and yet to balance N66.7 billion.

There was a N32 billion for the completion of 4th quarter and 3rd quarter of 2013 capital projects, N2 billion for the funding of Army operation in 2013, another N3 billion loan to INEC to speed up Electoral process in 2013, and N3.5 billion as loan to Nigerian Army for recruitment of 9,000 recruit in 2013.

As a result of the withdrawals and granting of loans as against what the funds were meant for, the Auditor-General raised a query as to the disbursements, which the Senate upheld.

The Auditor General’s report in its query against depletion of Special Funds said, "Amount totaling N455 billion were withdrawn from Development of Natural Resources as loans to various beneficiaries between 2004 and 2015, contrary to the established objectives of the funds.

"The purpose of the Development of Natural

Resources Fund is to provide financial resources to development alternative mineral resources Development.

The Development of Natural Resources Fund belongs to the federal government.

"Also, various amounts totaling N210.3 billion were withdrawn from stabilisation fund as loans to various beneficiaries, between 2004 and 2015 contrary to the established objectives of the funds.

"The purpose of the stabilisation fund is to provide for unforseen contingencies and economic downturn and the beneficiaries are the 36 states and Federal Capital Territory (FCT).

The stabilisation fund belongs to three tiers of government."

Flowing from this, the upper chamber in its consideration of the report of Senate Public Accounts Committee ordered the Accountant General of the Federation to ensure refund within 60 days.

The Senate in its resolution mandated the office of the Accountant General of the Federation to set in motion the process of the recovery of the loans and pay back to the Special Funds Accounts.

It further directed that henceforth AGF should ensure that payments from these special funds were strictly applied for the purpose they were created.

The AGF was also warned to desist forthwith from further withdrawal from the Dedicated Accounts without a resolution of the National Assembly.

APC across the State, said it has directed party officers at all levels to engage in dialogue that would lead to meaningful reconciliation of those, who were in disagreements to accommodate members that were willing to serve the party.

Speaking to journalists on behalf of the GAC members after the council meeting held at Lagos House, Marina, Prince Tajudeen Olusi, said GAC has directed all leaders and party officers to dialogue in the spirit of brotherhood to decide those who were going to lead the party after congresses.

He said: “We deliberated on the incoming state congresses of our party and later the national convention. We have resolved and directed officers of our party at all levels to engage in dialogue that would lead to meaningful reconciliation of aggrieved members within the party in other to ensure that all opinions are accommodated and all members who are willing to serve the party are given positions in the various executive bodies at ward, local and state levels.

“This we have done and we are sure all officers of our party will follow the consensus decision that we have taken so as to ensure that all willing members of the party, who want to serve are considered.

“We have also directed that they should hold stakeholder meetings at all local government levels, where leaders and officers will sit down, talk together in the spirit of brotherhood and decide, who will lead the party after the congresses.”

GAC also used the opportunity to appreciate the people of Lagos for reposing confidence in the APC. “We have reviewed events in the party, and particularly, we have also received results of the last local government elections.

We thank the press, members

of the public, particularly the voters of Lagos State for reposing their confidence in our party as they have always done. We are grateful for this,” he said.

Speaking also, Lagos APC Chairman of Caretaker Committee, Alhaji Tunde Balogun affirmed that, the party’s ward executives would emerge through consensus on Saturday, adding that APC would hold stakeholders meetings in all the local governments in the State on Thursday.

He said: "Next Saturday, we are having a ward congress, which will lead to the formation of our party officials. We are having our stakeholders meeting tomorrow (Thursday) and there, we will decide on what to do.

The stakeholders' meeting is taking place in all the 20 local governments in Lagos State; all local governments will hold the meeting.

“We are engaging a lot of stakeholders and we are going to do the ward congress on consensus. Consensus arrangement has been adopted by the party. We will be doing that for Lagos State.

We have decided to adopt the consensus arrangements, which is constitutional. It is part of the provision of our party."

The GAC meeting was attended by Lagos State Governor, Mr. Babajide Sanwo-Olu; his deputy, Dr. Obafemi Hamzat; former deputy governors, Prince Abiodun Ogunleye and Dr. Idiat Oluranti Adebule; Speaker of the Lagos State House of Assembly, Rt. Hon Mudashiru Obasa, former Secretary to Lagos State Government, Otunba Olorunfunmi Bashorun; Senator representing Lagos East Senatorial District, Senator Tokunbo Abiru, Prince Olusi and Balogun, among others.

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PAGE TEN S ’C O U RT J U D G M E N T I N O N D O G OV E R N O R S H I P S E T S O F F A N OT H E R L E GA L C R I S I S I N A P C because the opposition Peoples Democratic Party (PDP) failed to join Buni in the matter.

The PDP candidate in the election, Eyitayo Jegede, apparently not satisfied with the appeal court judgment in the petition, had approached the apex court to upturn the decision of the appellate court and declare him and the PDP winner on grounds that Akeredolu was not validly nominated as candidate of the APC in the said election. ºHis prayer was hinged on the fact that the acting National Chairman of the APC and Yobe State Governor, Mai Mala Buni, was the one, who forwarded Akeredolu’s name to the Independent National Electoral Commission (INEC) as candidate of the APC in the October 20, 2020 poll.

Buni, it would be recalled, was appointed in acting capacity by the National Working Committee (NWC) of the APC in May last year, after the sack of then National Chairman, Comrade Adams Oshiomhole.

But the petitioners in their appeal had argued that Buni, according to section 183 of the constitution and article 17(4) of the APC, could not function both as governor and acting chairman of the APC concurrently.

To that extent, the PDP and its candidate submitted that Akeredolu's nomination breached the law and as such, his election should be nullified.

Unfortunately for the PDP, while four of the justices held that the appeal of Jegede and his party was incompetent, because it did not include Buni as a party, the remaining three Justices held that it was not necessary to join Buni since the APC was already made a party to the suit.

Thus, in the majority decision delivered by Justice Emmanuel Agim, the apex court held that the failure of the appellants to include Buni as a party was fatal to their case, because all the issues in the appeal revolved around Buni and ought to have been made a party.

In his judgment, which further dismissed the appeal, Justice Inyang Okoro, also held that the allegations made against Buni were grievous and so should have been made a party to explain his side.

This position was equally canvassed by Justices Mohammed Garuba and Mohammed Abubakar.

But in their dissenting judgment, Justice Mary PeterOdili, who presided as well as Justices Ejembi Eko and Ibrahim Saulawa, held that since the APC was already a party to the suit, it was not necessary to join Buni.

According to Peter-Odili, Buni was just an agent while APC was the principal, insisting thatthe case of the appellants had merit and the appeal should be allowed.

She contended that Akeredolu’s election should have been nullified, while the appellants declared winner of the October 20, 2020 governorship poll.

Eko, on his part, maintained that Buni violated the Constitution, when as a sitting governor, still acted as Chairman of the APC by submitting Akeredolu's name to INEC for purposes of the governorship poll.

Their disagreement notwithstanding, all the Justices dismissed the cross appeals filed

by INEC and the APC for being academic.

But after studying the judgment of the Supreme Court, the Minister of State for Labour and member of the APC, Mr. Festus Keyamo, SAN, in a leaked memo to the party leadership, said the APC must be wary of the dire consequences of the judgment especially, as it looked forward to its congresses and national convention.

It is also why the Peoples Democratic Party (PDP) has advised the Buni to resign from his position as the National Caretaker Committee Chairman of the All Progressives Congress (APC), because it contravened a constitutional provision, which made his continuous stay illegal.

Sharing the PDP position, a former National Secretary of the Labour Party and Senior Advocate of Nigeria (SAN), Chief Kayode Ajuko, also said the judgment was enough indication that the chairman of the APC should resign from office immediately That nonetheless, President Muhammadu Buhari, has reacted to the Supreme Court

judgment and said the decision had brightened the chances of the ruling All Progressives Congress (APC) in future polls in the country.

Also, Governor Akeredolu thanked the judiciary for not yielding to any influence, even as he dedicated the election petition success to God. The ruling APC has also hailed the decision of the apex court as being in tune with popular vote.

Similarly, the Lagos State Governor, Mr. Babatunde SanwoOlu and the PDP candidate in the Ondo election, Jegede, have also congratulated Akeredolu over his Supreme Court victory.

However, dissecting the judgment and its implications in what turned out a leaked memo to the APC leadership, Keyamo said, “The Supreme Court by a narrow split decision today (4-3) held that GOV. AKEREDOLU cannot be removed as Governor of Ondo State. The little technical point that saved Gov AKEREDOLU was that Jegede failed to join GOV. Mai Mala Buni in the suit.

“Jegede was challenging the competence of Gov. Mai Mala Buni as a sitting Governor to run the affairs of the APC as Chairman of the Caretaker Committee. He contends that this is against Section 183 of the 1999 Constitution, which states that a sitting Governor shall not, during the period when he holds office, hold any other executive office or paid employment in any capacity whatsoever.

“In other words, had Buni been joined in the suit, the story may have been different today as we would have lost Ondo State to the PDP. “Therefore, any other person affected by the actions of the Buni-led Committee will henceforth not fail to join him in any subsequent case in court.

These includes any subsequent election matter in any part of this country and all the APC “The Supreme Court has just weaponised all those that would be aggrieved by the APC Congresses to proceed to court to Challenge the competence of the Buni-led CECPC to organise the Congresses and National Convention.

“The judiciary will subsequently destroy the entire

structure of the Party from bottom to top. We are lucky the Supreme Court has just given us a great and useful hint to save our Party just before the beginning of our Congresses. We cannot gamble with this delicate issue. The time to act is NOW. “The planned Congresses across the country slated for this weekend must immediately be suspended, because it will be an exercise in futility as analysed above. The competence of Gov. Mai Mala Buni to organise the congresses has been called to question by the Supreme Court.

“Firstly, the NEC of the Party can URGENTLY meet and consider and reconstitute the CECPC to exclude, not only Gov. Buni, but anyone holding ANY executive position in any government establishment as stipulated in Article 17 of the APC Constitution.

“Under Article 25 of the APC Constitution, it is the National Chairman OR TWO-THIRDS OF MEMBERS OF NEC that can Summon a NEC meeting. Since we cannot vouch for the legality of any NEC meeting summoned

by MAI MALA now, the safest is to get TWO-THIRDS of NEC members to sign an invitation to summon a NEC meeting, where the CECPC would be reconstituted and our Party would be safe.

“Alternatively, the Board of Trustees of the Party, which includes Mr. President, can be activated to organise a National Convention in line with Article 13 of the APC Constitution,where it is given such powers. Those powers can be delegated at the meeting to a Committee in line with the APC Constitution, which will run the Party and plan the Convention. The new Exco can then plan for Congresses.

“Above are my humble and respectful suggestions to save our Party from imminent danger in the light of the Supreme Court judgment today. To ignore this and do otherwise would be tantamount to playing with fire and the opposition would simply wait till our Presidential Primaries in 2023 to disqualify our candidate and destroy the party.

“I have done my professional bit to the Party. I can do no more.”

FDC: ENDING FX SALE TO BDCS DISRUPTS ‘JUICIEST ECONOMIC RACKET’ N411.60 to a dollar at the close of market yesterday, compared with the N411.50 to a dollar it closed the previous day.

FDC, a Lagos-based financial advisory and research firm, stressed, “Even though BDCs are licensed by the CBN, the point had been reached where the programme was no longer tenable and surely not sustainable.”

It stated that Nigeria was spending more on BDCs than debt service.

The firm wondered how a country whose total exports and receipts were approximately $59.8 billion, was spending $5 billion to subsidise “supposed Nigerian tourists during a COVID-19 year.

“In other words, spending more on tourism rather than debt servicing. Therefore, the structure of the forex market needed sanitisation,” the firm headed by Mr. Bismarck Rewane added.

Nonetheless, recommending solution to the problem, it stated, “The interim solution of substituting BDCs with banks is hardly going to achieve much.

You are virtually handing over the yam barns to goats to secure.

In the end, there will be no yams nor goats.”

It recommended, instead, that the CBN should allow

banks to retail dollars as they had done in the past and make BDCs engage in retailing same but at a buy rate different from today’s subsidised rate.

That is, the BDCs would be allowed to buy dollars from the CBN at the parallel market rate less a N10 premium, the research company stated.

It said, “For example, if the parallel market rate is N500/$, the purchase rate from the CBN will be N490/$. If the BDCs sell at N550/$, the CBN increases its rate for BDCs to N540/$.

“That will be the same retail rate at the banks. This eliminates the arbitrage corridor and abuse. It will certainly reduce the demand for dollars and it must coincide with an increase in dollar supply from the CBN. This way, the naira will appreciate towards the ever elusive fair value or the REER (Real Effective Exchange Rate), which today is anywhere between N470 and N490/$.”

In his own contribution, Chief Executive Officer, CFG Advisory, Adetilewa Adebajo, said the immediate market reaction was a parallel market spike.

Adebajo said, “It should be noted that BDCs were set up to serve retail markets with transactions under US$5,000. But this might not be sustainable,

as consumers did not benefit from the official rates BDCs were given as they engaged in arbitrage with the parallel markets.

“This situation offers the banks an opportunity to create a viable FX interbank market with transparent bid and offer rates that Nigerians can access via the existing inter-banking platforms.

“How long this will last is yet to be seen, as we recall that CBN last year for separate reasons suspended sales to BDCs and resumed several months later.”

Emefiele had disclosed the end of FX sale to BDCs while briefing journalists at the end of a two-day meeting of the Monetary Policy Committee (MPC) in Abuja on Tuesday.

He directed all commercial banks to immediately create designated branches for the sale and disposal of FX to customers who deserved it for legitimate purposes.

The CBN governor said the apex bank will no longer process or issue new licences for BDC operation in the country, adding that all licences being currently processed, regardless of the stage, had been suspended. He said the CBN would now channel weekly FX allocations hitherto

meant for BDCs to commercial banks.

Emefiele said commercial banks were now permitted to begin accepting FX cash deposits from their customers.

He explained that the measures were to ensure that the apex bank was better able to carry out its mandate in an effective and efficient manner as well as to guarantee preservation of the commonwealth and financial system stability.

Emefiele said the decision to eliminate the BDC operators from the FX market was necessitated by their dubious and unwholesome practices, adding that the operators have gone beyond their primary role of being retail dealers of FX to becoming wholesale dealers.

The CBN governor stated that rather than catering for the retail users, who required about $5,000 to meet their FX needs, BDCs now transacted in millions of dollars. He said BDCs bought dollars from the CBN at N197 and sold to their customers at N250.

Emefiele said it was no wonder that BDCs had risen “from a mere 74 in 2005 to 2,786 BDCs today. In addition, the CBN receives close to 150 new applications for BDC licenses every month.”

On its part, the PDP, which advised Buni to resign from his position as the National Caretaker Committee Chairman of the APC, also called on Nigerians to use the opportunity of the ongoing Continuous Voter Registration (CVR) by INEC and the party's membership registration to vote out the APC government in 2023.

PDP maintained that his best bet was to resign as the acting national chairman of APC as section 183 of the 1999 constitution as interpreted by the Supreme Court in the Ondo State governorship election has declared the position illegal.

National Publicity Secretary of PDP, Kola Ologbondiyan, who spoke on the matter, however, said the APC government had brought poverty to the country, with soaring pricesof food stuff hitting the roof.

Specifically addressing the Supreme Court judgment that validated the election of Governor Rotimi Akeredolu of Ondo state, the PDP said, "We insist that the process that led to the emergence of Governor Akeredolu was and remains a violation of the APC constitution as well as the 1999 constitution.

“Section 183 of the 1999 constitution states that no governor should hold any other position in any capacity apart from the office of the governor.

As you know, this was the major ground upon which we went to the Supreme Court."

Ajuko, in a statement, said, "My humble but cosmic review of the judgment comes with an indication that the Governor of Yobe State, Mai Mala Buni has to with immediate effect, vacate his seat, as the Chairman of APC. "As a one time National Secretary of Labour Party, National Chairman and National Secretary are the soul of the party; they're saddled with the day to day running of the party and the continuous stay of the Governor as Chief Executive Officer of APC runs contrary to provision of the Constitution and as such may be an albatross on the party soon, as all he had done before would be null and void, including nomination of candidates within the period of his so called leadership of the party," Ajulo warned.

INEC had declared APC and Akeredolu winner of the Ondo Governorship Election held on October 20, 2020 having won majority of votes cast at the poll.

But, the petitioners had claimed that his election should be nullified since he was not lawfully nominated.

The Ondo State Governorship Election Petition Tribunal, led

by Justice Umar Abubakar-led struck out the petition for lacking jurisdiction in the matter.

“Issues raised therein in this petition are settled issue of internal affairs and management of a political party on which this tribunal has no jurisdiction,”Abubakar held.

Abubakar, who delivered the judgment via zoom, therefore, upheld the reelection ofAkeredolu.

Similarly, the Court of Appeal panel presided over by Justice Theresa Orji-Abadua, upheld the judgment of the tribunal and dismissed the appeal for lacking merit.

Buhari: Judgment Brightens APC Chances in Future Polls

President Muhammadu Buhari, who formally reacted to the Supreme Court judgement affirming the re-election of Governor Rotimi Akeredolu of Ondo State, said the ruling has brightened the chances

of the ruling All Progressives Congress (APC) in future polls in the country.

The President, in a release Wednesday by his Media Adviser, Femi Adesina, noted that the Supreme Court judgement, preceded by that of the Court of Appeal, further bolstered the strength and reach of the APC, and its bright chances of consolidation in coming elections.

He, therefore, called on the opposition to sheathe the sword, work for the development of Ondo State, and wished the government and people a prosperous future.

Buhari also joined members of the APC in felicitating with Akeredolu over the Supreme Court judgement, and urged the governor, and all elected leaders of the party, to always place the people first in their consideration of development programmes and projects, affirming that the popularity of the APC would continue to depend on performance and acceptance by the electorate.

He extolled Akeredolu for assiduously working for the development of the state, with reforms that have continued to attract the goodwill of investors, and his insistence that education, health and security take priority.

I Dedicate My Victory to God, Says Akeredolu

Ondo State Governor, Rotimi Akeredolu has dedicated his victory at the Supreme Court to God, while at the same time thanking the judiciary for not yielding to influence of any sort.

He also appreciated his legal team, the Independent National Electoral Commission and his party, the APC. “I have every reason to thank God and appreciate the judiciary for not yielding to any influence. We can still be proud of our judiciary. The glory of this election petition success is to God Almighty.

“I want to thank the legal team that has represented us. My team, led by Chief Akin Olujimi and other wonderful lawyers for their wonderful work.

“We thank the INEC team, Charles Edosanwa, SAN; APC team, Lateef Fagbemi, SAN, Sola Oke and other eminent lawyers,” he said The Governor said with the judgement of the apex court, the legal tussle had been laid to rest, stressing that it was time to work more for the people.

APC Hails Akeredolu’s Supreme Court Election Victory

The All Progressives Congress (APC) has hailed the Supreme Court decision upholding the victory of the Ondo State Governor, Rotimi Akeredolu in the last governorship election.

National Secretary of the Caretaker/Extraordinary Convention Planning Committee of the party, Senator John Akpanudoedehe, in a statement issued Wednesday said Akeredolu's administration was now poised to redouble the tempo of quality service delivery.

His words: "Fondly and popularly referred to as 'Aketi', the Governor Akeredolu administration is now poised to redouble the tempo of quality service delivery and consolidate its giant strides in the critical areas of education, healthcare delivery, infrastructure development, security, youth empowerment and industrialisation.

"For many residents of the Sunshine State, who joked that Akeredolu has turned the state

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Buhari: We’ll Increase Education Funding By 50% In 2022, 2023 Deji Elumoye in Abuja President Muhammadu Buhari has given an assurance that Nigeria's budget for the education sector would be increased by 50 per cent in the 2022 and 2023 Appropriation Bills.

The President, in a release Wednesday, by one of his Media Advisers, Femi Adesina, pledged to increase the budget for the education sector by as much as 50 per cent over the next two years.

In a document titled, Heads of State Call To Action On Education Financing Ahead Of The Global Education Summit, signed as a form of commitment at the on-going Education Summit in London, United Kingdom, President Buhari stated: “We commit to

progressively increase our annual domestic education expenditure by 50% over the next two years and up to 100% by 2025 beyond the 20% global benchmark.”

The President, in the declaration stated further: “I join my brother, His Excellency, Uhuru Kenyatta, President of the Republic of Kenya to affirm our commitment to improve learning outcomes in our respective countries by ensuring equitable access to quality and inclusive education for all our citizens, with particular emphasis on the girl child.

“We fully endorse the call for more efficient use of resources and to significantly increase investment in education by strengthening institutions, promoting greater adoption of technology, building the capacities of our teachers

and mobilising additional financial resources through legal frameworks and deliberate intervention on a sustainable basis.

“In this regard, we commit to

progressively increase our annual domestic education expenditure by 50% over the next two years and up to 100% by 2025 beyond the 20% global benchmark. Let us, therefore, raise our hands

mass grave at Mando area of Kaduna metropolis.

The IMN leader and his wife were being prosecuted by the Kaduna State government following the recommendation of a judicial panel that was set up in 2016 to investigate the clash.

The IMN leader and his wife stood trial on eight count charge of culpable homicide, disruption of public peace and unlawful assembly among others.

The IMN, in a statement yesterday while reacting to the judgement, stated it was a victory for perseverance in the face of extreme persecution by the Nigerian government.

According to the the statement signed by Ibrahim Musa, spokesman of the Islamic body, “The judgement has not only vindicated our leader and all members of the movement in Nigeria, but a victory for perseverance in the face of extreme persecution by the Nigerian government. It is a victory for truth and justice against tyranny and impunity”.

Musa said, with the court victory, “the false charges filed against them has finally been punctured for good after almost five years of excruciating illegal detention.”

According to the statement, the Kaduna State government filed charges against Zakzaky and his wife as an afterthought a year and a half after a Federal High Court in Abuja had ruled that their continued detention was unconstitutional, illegal and a breach of their fundamental rights and ordered for their release and compensation.

The statement noted that, despite the ruling of the Abuja Federal High Court, “The government however remained in contempt until they decided to frame these spurious false charges in an attempt to perpetually keep them in their illegal custody.

“We, therefore, give praises to the Almighty for yet another successful outing, which further proves to the world that the Islamic Movement and its leader, are only victims of impunity and mischievous plots by both the Buhari-led federal government and the El-Rufai-led Kaduna State government.

“Since both governments have again failed in court after a fair trial, we expect them to respect the judgement of this honourable court and the course of justice to release them with immediate effect.

“We wish to use this opportunity to also say a big thank you to all people of conscience, human rights activists

sought to give opportunity for leaders to make five-year pledges to support GPE's work to help transform education systems in up to 90 countries and territories.

KUKAH BLAMES CIVIL SOCIETY FOR NIGERIA’S PRESENT SITUATION could never had contemplated that the nation would be so headed.

According to him, democracy was not an exercise undertaken by good men and good women, which was really what Nigerians had always fallen victim to, insisting that a narrative that the nation was looking for holy men, men of integrity, men of dignity and so on to govern the country was wrong ab initio.

He said it was also wrong for Nigerians to assume that

managing a diverse country like ours did not require some certain level of deep intellectual reflection and understanding of the complexity of managing a diverse society.

Kukah, therefore, said we need a country of people, who are so energetic and ready to guide our joint patrimony, insisting that “now that the Barbarians are at the door, how to fight back is the challenge facing the nation.”

He added that if there was any lesson at all that the

A F T E R OV E R F I V E Y E A R S I N D E T E N T I O N , C O U RT F R E E S E L - Z A K Z A KY, W I F E on Wednesday, a counsel to ElZakzaky, Marshal Abubakar, said the court upheld their no-case submission filed by the defence counsel and agreed that, the case lacked merit.

He said, “The trial of Sheikh Ibraheem Zakzaky and his wife, Malama Zeenat Ibraheem, has come to an end today. The court has upheld our no-case submission. The court found that the charges that were filed in the year 2018 pursuant to a penal law enacted by the Kaduna State government in 2017 over offences allegedly committed in 2015 is ab-initio.

“The court ruled that the charge ought not to be in the first place, because you cannot arraign a man for an offence that was already committed as at the time the said crime was not an offence. And the Court was very emphatic on that,” he explained.

He agreed that though the Kaduna State government has powers to enact laws, “they cannot enact law to prosecute an offence prospectively. That is the first ground on which the court held that, that charge was incompetent.

“On another footing, the no-case-submission we filed in court, the court agreed with us that the trial lacked merits, that the prosecution only came to court to tell stories that are at cross variance with the offences that were alleged in the charges.

“The court agreed with us that, El-Zakzaky and his wife have committed no offence. The Court, however, discharged and acquitted El-Zakzaky and his wife. It said there should not have been any charge against El-Zakzaky and his wife, Zeenat in the first place,” he said.

But the prosecuting counsel, Dari Bayero, did not address journalists as he left immediately after the court session.

Since the commencement of the trial to the end, journalists were barred from covering the proceedings and had to wait outside the court premises for briefings from both the prosecution and defence counsel.

Meanwhile, the IMN leader, along with his lead counsel, Mr. Femi Falana (SAN), were seen in the same vehicle as they drove out of the court premises.

El-Zakzaky and his wife were arrested in December 2015, following a bloody clash between his followers and soldiers in Zaria, Kaduna State.

Over 347 people, said to be members of the Shiite group were allegedly killed during the incident and buried in a

in solidarity to build a more secure and prosperous future for our children.”

The Summit, which was cohosted by the Prime Minister of UK Boris Johnson and Kenyatta,

and organisations, journalists and all those that joined in our dogged campaign for justice for the victims of Zaria genocide for the past five years”, the statement said.

In December 2015, IMN members, who were said to be observing a religious ritual, allegedly blocked the road, preventing the convoy of the then Chief of Army Staff, Lt. Gen. Tukur Buratai, who was in Zaria for the Passing Out Parade of the military school in the area.

The incident snowballed into a serious clash between the IMN members and soldiers the following day, leading to massive killings.

Since the detention of Zakzaky, his followers have been protesting in major cities, like Abuja,

Kaduna and Kano, Sokoto, demanding for his release.

Some of their protests often resulted in deaths, following violent confrontations with security agencies, especially, the police.

An Abuja Federal High Court presided by Justice Gabriel Kolawole had in December 2016, ordered the release of El-Zakzaky and his wife from detention on the grounds that their continuous incarceration was unconstitutional and an infringement on their fundamental human rights.

The court had also awarded a N50 million compensation to the duo and ordered the federal government to provide a new accommodation for them in Zaria or any northern town of their choice.

nation could learn, it was that the nation was faced with political actors in whose hands Nigerians entrusted the future of the country, but who had no reflexes for understanding how diversity could be managed and who seemed to have almost no intellectual capacity to understand that for governance, the strength of a nation lied in its ability to mobilise its resources across board.

“And therefore, going forward, the tragedy that has now afflicted our country and where we find ourselves, is no excuse for us to become despondent. In 2023, whether it happens or whatever the case may be, we prayerfully hope it happens.

“But it gives us another opportunity to ask ourselves and think about the mistake that we made, because we are not innocent in the choices that we made. Most of us are complicit despite the fact that of course, using the agencies and agents of state, those in power always continue to seek to close the space.

“The challenge for us, therefore, is to understand that democracy is a work in progress. All of us engage in democracy and opening up the civic space must realise this is a journey; it is a long

journey. We must wear the shoes of the long distance runner and every generation face its own challenges and pass the challenges up to the next generation. But whatever we pass to the next generation must be a light of hope.”

Speaking earlier, the Executive Director of the Kukah Centre, Revd Fr Attah Barkindo, said the conference was aimed at deepening the culture of democracy and free speech in the country.

Barkindo said the issue of the shrinking of the civic space had become a daily discuss amongst Nigerians everywhere.

In his contribution, a former Nigerian Ambassador to the Scandinavian countries and ex-Permanent Secretary, Ministry of Power, Ambassador Boladei Igali, said from the foundation of human society, what has brought progress and advancement was the civic space.

Also on the panel as discussants were Victoria Ibezim-Ohaeri, who was represented by Zipporah Ibeh, Idayat Hassan of Centre for Democracy and Development, Jake Epelle of the Albino Foundation and Audu Bukarti of Tony Blair Institute for Global Change, with Ms. Inya Ode as Moderator.

S’COURT JUDGMENT IN ONDO GOVERNORSHIP SETS OFF ANOTHER LEGAL CRISIS IN APC into a busy construction site, it rings true for a man who is truly passionate about the development of his independentminded, enlightened and progressive people and state."

He noted that Akeredolu had followed up his people-oriented policies with several other developmental initiatives, which were returning the state to its deserved status and consolidating on the landmark and progressive legacies of the late Chief Michael Adekunle Ajasin, the first civilian governor of the state.

Judgment Vindicates Our Appeal, Says PDP

The Peoples Democratic Party (PDP) has said the split judgment by the Supreme Court on the flawed nomination of the Ondo State Governor, Rotimi Akeredolu, showed that there was merit in its appeal against his election.

The party noted that the majority judgement as presented by the Supreme Court did not address the impunity in the action of the Yobe State Governor, Mai Mala Buni, in functioning as the Chairman of the APC while at the same time holding office as a sitting governor, contrary to the provisions of section 183 of the 1999 Constitution (as amended) as well as the constitution of the APC. According to a statement by the National Publicity Secretary of the PDP, Kola Ologbondiyan, the PDP said the fact that three justices out of the seven-man panel upheld itsposition on

the illegality of Akeredolu’s nomination confirmed his candidacy as cancerous and a brazen violation of the 1999 Constitution (as amended) as well as the constitution of the APC. "It is noteworthy that the judgement did not disagree with our position that Mai Mala Buni as Governor of Yobe State cannot function as National Chairman of a political party and nominate a candidate for election to the Independent National Electoral Commission (INEC).

"While our party restates its utmost respect for the institution of the judiciary, especially the Supreme Court, the PDP had expected the Apex Court to stand up as the conscience of our nation by halting the absurdities and impunities being entrench in the political firmament by the APC," the PDP said.

Sanwo-Olu Congratulates Akeredolu

Lagos State Governor, Mr. Babajide Sanwo-Olu has congratulated his Ondo State counterpart, Mr Rotimi Akeredolu (SAN) on his Supreme Court victory, which upheld his victory in the October 10, 2020 governorship election.

Governor Sanwo-Olu, who was the Chairman of the All Progressives Congress Committee on the Ondo State gubernatorial election, also congratulated President Muhammadu Buhari, the national leadership of the All Progressives Congress, as well as members of the party

in Ondo and across the country on the victory.

Sanwo-Olu, in a statement, signed by his Chief Press Secretary, Mr. Gboyega Akosile, described the Supreme Court ruling as a "validation of the people's mandate", saying the election results announced

by INEC were evident that Governor Akeredolu was validly elected by Ondo people.

"As democrats, we must submit ourselves to the tenets of democracy, which include post-election litigation. Today's judgement has put paid to all insinuations and doubts about the resounding victory of Governor Rotimi Akeredolu.

"I, therefore, call on all lovers of democracy, especially the people of Ondo State to come together for a continuation of good governance and the developmental process of Ondo, started by Governor Akeredolu from his first term of office.

“On behalf of the people and government of Lagos State, I congratulate my brother, Governor Rotimi Akeredolu, on his victory at the Supreme Court." Sanwo-Olu said.

…Jegede Too, Says It’s Time to Thank God

The Peoples Democratic Party (PDP) candidate in the October 2020 governorship election in Ondo State, Mr. Eyitayo Jegede, has congratulated Governor Oluwarotimi Akeredolu of the state, after the Supreme Court affirmed his victory yesterday.

Jegede in a statement personally signed and made

available to journalists, disclosed that the ruling would not deter him from respecting the judiciary.

He thanked the PDP, Ondo State People and his counsel for a good fight, adding that it was time to let go and thank God. "Now that we have explored the grievance procedure permitted by the constitution and the law, it is time to give glory to God. "We thank specially our legal team, under the leadership of Dr. Onyechi Ikpeazu, OON, SAN, FCIArb, for their commitment, industry and dedication to our cause. Over and above all, we thank them for their sacrifice.

"We are thankful to the people of Ondo State for their steadfastness. We were in this for service and for the collective interest of the majority of our people.

"The outcome of today’s judgement should not deter good and well-meaning individuals from aspiring for leadership in our state and in our country. For all our people, who have stood strong, we salute you.

"We thank the National and State leadership, and the generality of the members of PDP for providing us with great support. For our governors, who provided the required leadership and kept faith with our aspiration, gratitude, history will judge you right.

"With this outcome, our respect and reverence for the judiciary and our justices of the supreme court has not diminished. I congratulate HE Oluwarotimi Akeredolu, SAN."

THURSDAY JULY 29, 2021 • T H I S D AY

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COMMENT

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

BDCS AND FOREX SALES

CBN is right in wielding the big stick, argues Aliyu Momodu

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n a rare act of courage, the Central Bank of Nigeria (CBN), recently announced immediate discontinuation of sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country.

Mr Godwin Emefiele, the CBN Governor, who has shown capacity and pluckiness managing Nigeria’s reserve bank these past years of global cum local economic crisis, made this announcement on Tuesday, July 27 while presenting a communique from the Monetary Policy Committee (MPC) meeting. He cited unwholesome business practices of the BDCs which run contrary to the rules of engagement thus putting much strain on the naira.

While discontinuing sale of forex to BDCs, CBN will henceforth sell to Nigerians through commercial banks. Emefiele mentioned a tragically disturbing aspect in the illicit operations of BDCs, to wit: they have become cheap fiscal conduits for terrorists by fuelling the fatal questing of terror merchants.

It’s important to situate what BDCs are, their roles, desirability and contribution to the larger economy. They are established as intermediaries between the apex bank and the public in matters of buying and selling forex. They have been of old particularly in the days of the military when they played major role in the huge disparity between official exchange rate and the parallel market rate.

Truth be told, BDCs have not been noble in their conduct historically. They haven’t. And this explains why many analysts have continued to commend Emefiele for pulling the rug on the BDCs especially at this moment when the naira is under crippling weight of other currencies in the forex market. Again, the action of CBN is justified by the open show of forex larceny and primitive violation of extant rules by the BDCs. Whereas BDCs were created to cater for low forex hunters not exceeding $5000 per day, most BDCs have constantly violated this agreement and have reportedly sold forex in tens and hundreds of thousands per day far above the official threshold. It has become the fastest way to making easy money. Now you know why there has been a boom in the birthing and licensing of BDCs. In year 2,000, there were only 74 BDCs. It shot up to 2,000 in 2010 and today, we are counting 5,000 BDCs and more. Nigeria is coming from a military background, an era when a huge gulf existed between official exchange rate and parallel market exchange rate. At a time in 1989 under the military, the naira traded like a yoyo in the forex market. A swirl of round-tripping defined the forex market.

Privileged officials of government would get dollar allocation from CBN at N22 to one dollar only to sell such allocation that same day at the rate of N88 to a dollar. This created a clique of super-rich who became nothing but economic parasites. Nigeria must never go back to that era.

And whereas the rule says no BDC should sell above a maximum of 5,000 dollars per day, CBN says they have since been flouting that regulation and selling millions of dollars per day. But even without CBN sounding the gong, it’s common knowledge that some privileged BDCs are financial adjuncts and associates of many government officials and sundry politicians. BDCs have made a fortune from acting as conduits for politically exposed persons, drug barons and other economic saboteurs who profit from the mess and miasma created by the same politicians and public office holders.

The CBN also noted that the BDCs aid illicit financial flows and other financial crimes, especially serving as forex conveyor belts for terrorists, their sponsors and sympathisers. This illicit deviation to the path of ignominy has also made the decision of the apex bank

THE FOCUS SHOULD NOW BE ON THE BANKS TO DO WHAT IS RIGHT. CBN SHOULD NOT LOOK AWAY AFTER SELLING FOREX TO BANKS. IT MUST MONITOR USAGE CLOSELY AND DISPENSE APPROPRIATE PUNISHMENT TO ERRANT BANKS

not only inevitable but justifiable.

The sole aim of establishing BDCs has been defeated and the privilege abused. They hoard forex and deny ordinary Nigerians access to forex as part of their travel requirements. The direct impact of this selfishness by BDCs is a continual trouncing of the naira at the forex market. When BDCs hoard forex for their special clients (politicians, public officers, terrorists and others) they create scarcity and this pushes up the value of foreign currencies against the naira. This has resulted in both scarcity of forex and low value of the naira in spite of all the efforts of CBN to shore up the naira.

Give it to CBN, the apex bank has never shied away from defending the naira. At a time it had to ban forex financing for the importation of over 40 items. That masterstroke by Emefiele not only helped to boost local production of the items, it also saved the nation billions of dollars in capital flight.

Just reflect on this: The CBN sells $110 million weekly to over 5,000 BDCs bringing total annual sales to $7.2 billion. This is an anomaly in the sense that Nigeria is the only country where the central bank sells forex directly to BDCs. This is practically unsustainable and it is only a matter of time and the bubble will burst.

Besides, the concept of BDCs is outmoded, long discontinued by countries around the world. Some even argue that Nigeria remains the only country in the world still practising the BDC forex transaction routine. The global standard is that such transactions are now done by banks. This, again, puts the CBN on a high moral prop in abolishing forex sales to BDCs. The implication of the CBN decision is that a huge $7.2 billion will now be channeled to the banks annually for onward sale to the public. This is smart but it calls for a great deal of monitoring because even the commercial banks have been known to engage in round-tripping and arbitrage, the same offence that cost BDCs their place in the forex ecosystem. But we can draw confidence from Emefiele’s very strong warning to banks to either play by the rule or be ready for the apex bank’s sledge hammer. CBN should ensure that banks open dedicated tellers to process valid requests for forex and to make room for strict monitoring. Trust is key here and banks should be named and shamed when they veer off the lane.

Expectedly, the market has reacted with naira losing by some margins to the dollar. But with proper monitoring by CBN, things are expected to stabilize sooner than expected. This also offers the banks a rare opportunity to create a viable forex interbank market with transparent bid and offer rates that Nigerians can access via the existing inter-banking platforms. The motive of CBN is not only to stabilize the volatile forex market but also to shut out any form of terrorism financing.

For a country like Nigeria with serious terrorism challenge, what CBN did is commendable. Day by day, the fire of terror defined by kidnapping, banditry, maiming and killing of innocent Nigerians, keeps spreading with fatal fury. No responsible government should stand and stare while terrorists wax bolder including shooting down a fighter jet. The decision of Emefiele is in the public interest.

Any effort to weaken the terrorists should be appreciated.

The focus should now be on the banks to do what is right. CBN should not look away after selling forex to banks. It must monitor usage closely and dispense appropriate punishment to errant banks.

Momodu wrote from Auchi, Edo State

CYPRIAN EKWENSI PUZZLED BY ‘ARTS AND CULTURE CENTRE’ Okello Oculi writes that the arts and culture centre is misnamed

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s a former victim of Britain’s colonial dictatorship, the United States of America has a history that Africa can learn from. It started with lessons from European grandparents whose religious and tribal wars built independent nationhood. This prepared them for genocidal wars against ancient inhabitants of the Americas. Canada is currently remembering this horror.

American leaders viewed European countries as hostile actors plotting to undermine their newly independent Union of States. They imposed a common language: while sports of Cricket (modified as ‘’Baseball’’) and Rugby (renamed as ‘’football’’) - associated with the aristocracy - became games open to all.

From England came building high quality replicas of Oxford and Cambridge universities for training rulers under rigorous scholarship.

Ideas as guides to politics, public policy and business administration gave value to writers of fiction, poetry, drama, political essays; while political leaders who wrote the ‘’Federalist Papers’’ invested intellectual insight in building a nation. A ritual reminder of this connecton is in a poet reciting a new work at the swearing of a president.

The high responsibility given to tending the ‘’Library of Congress’’ derives from the conviction that democracy requires literate citizens who, armed with data and knowledge, can interrogate laws proposed by Congress and government bureaucrats. In the 1960s television drama showed stern-looking Russian rulers using Weather to invade and dominate the United States.

The gun lobby continues to fund Hollywood’s production of films with guns as common as oxygen. Even the slaughter of school children; folks assembled in churches, cinemas and music festivals, have not eroded their grip on this sector of culture.

The presidency of Barrack Obama ignited silted passions that support Slavery. In 1989, business executives meeting in Atlanta, Georgia were told that Japanese leaders mocked America’s stupidity in denying education to its African-American population. These corporations preferred to export factories to China’s highly educated and culturally disciplined workers.

President Biden is now faced with these companies resisting his call for factories to be brought back from China, South Korea, Singapore and Indonesia. Japan’s use of Buddhist religious principles to anchor its industrialisation yielded products ranging from cameras, cars, to computers whose quality of performance

and durability swept American and European competitors out of markets. Culture matters.

Cyprian Ekwensi, writer of over 40 novellas and novels, must look with a deep sigh and puzzle at the ‘’Arts and Culture Centre’’ named after him in Abuja’s Area 10. The building is owned by the Federal Capital Territory Administration. It is a large structure with a large courtyard lit by a lavish sky.

Named after a prolific writer, it is fertile with steps for climbing from the ground level on its front but has neither a Bookshop selling his works nor a Book Exhibition displaying them and circumstances under which they were written, as well as recorded public responses to them.

The central court offers no groups performing any of his works or rehearsing performances simmering in the horizon. There is no display of photographs of past dramatization of any of these works by either resident arts or performances, if any, in the National Theatre in Lagos.

Or by dramatists in his village community.

The enormous building holds offices of Seven Departments of the Federal Capital Authority’s mission for social development. It is a haven for Bureaucracies but a NOT for a flourishing of ‘’Arts and Culture’’.

Ekwensi might be smiling in appreciation at art works preoccupied with women under

the violence of hauling huge objects in the space between their necks and the edge of their shoulders. There is no anguish on their faces as if it has a cultural virtue; probably in celebration of ‘’Gbagi Women’’ as neck-sacrificing home makers. What is missing is loud rebuke of the failure of industrial evolution to invent and manufacture technical tools to liberate women from Work Violence.

There are scores of men blowing long horns which either send blessing of their genius to skies or under the soil. They do not boast of grazing cattle, sheep, goats; or pythons and rodents seeking nutritional needs.

There are no bursting muscles of farmers fighting stubbornness of soils to feed society; and no harvests proclaiming their miracles of agricultural fertility. There are neither celebration of struggle; nor hope or grit to construct futures.

The tourist is urged to wonder why it was named after a prolific writer when there are not paintings of children READING and RITING books; as if the labour of this hero shall remain in vain. It is telling that only Zenith Bank and Intercontinental Bank donated funds for the building of the resource, in a capital city where enormous funds are shouting through cement used for building ‘’plazas’’, hotels and villas.

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EDITORIAL

ISSUES IN OSTENTATIOUS BURIALS The authorities may do well by enforcing the law on abuse of the naira

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nder the pretext of a recent burial in Anambra State, the national currency was not only abused, the dignity of innocent villagers was also cynically violated.

The people were made to look like scavengers as they scrambled for the naira notes that were carelessly thrown around by the celebrant and his fellow travellers who accompanied him to the occasion. More disturbing is that the culprits included senior policemen, members of the National Assembly and other public officials.

Because of the way issues are now framed in Nigeria, the whole unfortunate affair has been lost to sentiment.

At a period when we need a drastic reorientation that requires many of our young citizens to understand that acquisition of money cannot be an end to living, some of those who should be role SECTIONS 20 AND 21 OF THE models reinforce CBN ACT OF 2017 OUTLAW the notion that wealth does not ANY ACTION BY ANYONE have to come from WHO HAWKS, SPRAYS, SQUEEZES, DANCES ON OR hard work. That is the message from WRITES ON THE NAIRA a popular Nollywood actor who, in a released video during the burial, implicitly glamourised fraud.

Ordinarily, people have a right to spend their money the way they like provided it is legitimately earned. And it is none of our business even if someone bought a billion naira casket to bury their mother. It is perfectly within their rights to engage in such profligacy. But there are issues we should not gloss over. The egregious handling of naira notes as displayed at the burial in question ultimately leads to large stack of mutilated or dirty currencies. The implications are obvious. Currency notes that are poorly handled get defaced and as people

Letters to the Editor

do not like worn-out money, they reject them in transactions. Money which government can use for other projects is then diverted to print new notes to replace bad ones. Besides, sections 20 and 21 of the CBN Act of 2017 outlaw any action by anyone who hawks, sprays, squeezes, dances on or writes on the naira. But because nobody has ever been penalised for this infringement of the law, politicians and business people openly abuse the currency while holding naming, birthday, burial, or wedding ceremonies.

H T H I S DAY EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

owever, beyond the issue of currency abuse, such obscene display of wealth is insensitive at a period many Nigerians struggle to eke out a living.

Our concern goes beyond this specific episode to the general display of ostentation by those who profess a certain faith. In some parts of the country, people go as far as taking loans or even selling lands just for the purpose of making the burial of their relation ‘a great celebration of life’. Apart from the cost of the caskets, there are several other expensive trappings that have made the task of burying the dead to become a humongous albatross, especially in the southern part of the country and mostly among those who profess Christianity.

In as much as we concede that people have a right to bury their dead the way they like, Christians do have something to learn from their Muslim compatriots regarding the conduct of funerals. Muslims bury their dead within 24 hours in an un-ostentatious manner. We believe that the most befitting burial right would be to set up a charity foundation or a trust fund and dedicate the millions of naira wasted in a single day on funeral rites to the education of the less privileged and providing succour for the poor.

This will be a better legacy to the memory of the dead instead of expensive coffin, food, drinks and throwing money around.

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THE RUMBLE IN THE POLITY

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ere either Nnamdi Azikiwe or Chief Obafemi Awolowo elected Nigeria’s Prime Minister in 1960, the political trajectory of Nigeria would have been different. Both of them were philosopher kings, who possessed profound and vast political and economic ideologies. And, it takes visionary leaders to transform a country, positively.

But the foxy departing British colonial overlords had sinister plans for Nigeria. They clandestinely helped Alhaji Tafawa Balewa, an amenable and malleable northern politician, who would pander to their whims, and take dictations from them, to power.

But, surprisingly, under the leadership of Alhaji Tafawa Balewa, the political intrigues in the Western region and the bloody events in 1966 swirled and spiralled out of control and eventuated into the Nigeria -Biafra civil war. The war caused the depredation of our economy and the killing of millions of Igbo people.

At the end of the war in 1970, Yakubu Gowon coined the slogan “no victor, no vanquished”, which was designed ostensibly to promote the unity and oneness of Nigeria. It gained currency and resonance among the diverse people(s) of Nigeria. And, the National Youth Service Corps (NYSC) Programme was established in 1973 to further entrench peace and unity in Nigeria. Under the scheme, students who graduated from universities when they’re below the age of 30 years are obligated to do the programme in states outside their ethnic origins so that their minds will be disabused of ethnic bias and prejudice, and provincial sentiments.

But have those measures, which are being executed to guarantee us peace and unity in our country, yielded the expected results? The answer is an emphatic no. Between 1970, when the Nigerian civil war ended, and 2021, ethno-religious conflicts, political crises, terrorism, and other sundry divisive crimes have marked and marred Nigeria. Nigeria, it should be noted, has always been on the boil, with intermittent periods of peace.

Nobody has forgotten the Maitatsine religious uprising, and the intrareligious quarrels, which have erupted between the Sunni sect and the Shia group. The north, which is a hotbed of religious violence, has now become a river of blood, what with Boko Haram insurgents and bandits killing people there. And the peripatetic Fulani cattle herders’ campaign of bloodletting, destruction of farmlands, and expansionist moves have made them the fourth deadliest terror group in the world.

Since 1999, when the fourth republic dawned, successive civilian governments have tried, albeit unsuccessfully, to eradicate sectarian violence, insurgency, and terrorism in Nigeria. But the Buhari-led government has been receiving scathing criticisms for the endless and prevailing insecurity of lives and property in Nigeria because of the federal government’s use of double standards in tackling the matters of Boko Haram insurgency, banditry, Fulani cattle herders’ menace, and the clamour for statehood by Nnamdi Kanu and Sunday Adeyemi (aka Sunday Igboho).

While agitators for statehood are clamped down, as though they reserved no right to clamour for separate countries for their ethnic groups, the Boko Haram insurgents and Fulani cattle herders are being

mollycoddled. Yet, the northern bandits, Boko Haram insurgents, and Fulani cattle herders are decimating the populations of the middle belt area and the north, respectively.

But IPOB, whose leader , Nnamdi Kanu, was unjustly and unlawfully repatriated to Nigeria for trial, was proscribed, although it is a non-violent secessionist group. And Sunday Igboho’s alleged crimes for which he is being hounded pale in comparison to the murderous deeds and other atrocities, which are being committed by the Fulani cattle herders, Boko Haram insurgents, and northern bandits or terrorists.

Instead of taking a dispassionate look at the causes of revolt and secessionist moves in Nigeria with a view to proffering lasting solutions to them, President Buhari, a Fulani irredentist, is busy enthroning and solidifying Fulani political hegemony here. Is he not aware that the destruction of farmlands and the killing of farmers in the southwest of Nigeria is at the root of Sunday Igboho’s agitation for the creation of a Yoruba or Oduduwa state?

More so, he has continued to turn a deaf ear to the deafening cries of marginalization by the Igbo people. His ill-treatment of Igbo people is obvious to the generality of Nigerians. His lopsided appointment of people other than people of Igbo descent into key and critical organizations proves that he has a great dislike for the people of the southeast.

Had he struck a balance between executing infrastructural projects in the southeast and appointing people of Igbo descent into diverse federal organizations, the cries of marginalization and agitation for statehood by IPOB and other Igbo people would have decreased considerably.

Chiedu Uche Okoye, Uruowulu-Obosi, Anambra State

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POLITICS

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

Salisu Yusuf Majigiri Nothing is Going Well Under Masari’s APC-led Government Peoples Democratic Party chairman in Katsina, Salisu Yusuf Majigiri, recently spoke to journalists on critical issues affecting the party and Governor Bello’s APC government. Francis Sardauna presents the excerpt

W

hat is the current position of the Supreme Court judgment on the dissolved PDP local government officials?

The election in question was held in September 2014. After the election, there was a need to go to the tribunal to hear a petition arising from the local government election. There was none up to the time when the tribunal concluded the stipulated period for hearing of petitions.

So, we had a legitimate local government council right from 2014 up to June 2015 when the incumbent Governor of Katsina state, Aminu Bello Masari, assumed office. Governor Masari, on the assumption of office, without recourse to due process, dissolved the elected local government officials. That dissolution was a gross violation of Section 7 of the 1999 Constitution as amended. So, we sued the governor, the speaker of the State House of Assembly, and the attorney general of the state for that illegal act.

We started from the state high court to the Court of Appeal and eventually the Supreme Court of Nigeria. The Supreme Court ruled that the action of the governor was null, void, and unconstitutional. The Supreme Court, in its wisdom, directed that all their entitlements should be paid. From there, our lawyers collected a copy of the judgment. A booklet was compiled with all the relevant documents, including the judgment, circular, and what everyone will have as his entitlement. The documents were sent to the governor’s office, office of the speaker and office of the attorney general of the state.

The comprehensive documents have been before the government of Katsina state since June 15, 2021. So, what we are waiting for is for the government to comply with the judgement. You are fully aware that Supreme Court is the apex court, and the judgment is absolute and final. It is an unappealable judgement, so there is no way the government of Katsina State can not comply with it. The only thing we are waiting to see is the consequential order given by the Supreme Court that they should pay the entitlement on/off before August 31, 2021.

Do you think this victory would strengthen the local government system in Nigeria?

The victory is not only for Katsina PDP. It is a victory for the local government system throughout Nigeria because this judgment would give security to the tenure of local government councils. With this judgment, no governor can wake up in the morning and dissolve elected local government officials. The local government system is enhanced, and whoever will participate in an election in local government will have a kind of confidence and assurance that his tenure is secure unless he violates certain laws that would lead to his impeachment.

The dissolved local government officials should be paid all their entitlements on/before August 31 as directed by the Supreme Court of Nigeria. When the election was conducted in 2014, APC wasn’t a participant in that election.

It was only PDP and six other political parties.

All the councillors and chairmen were elected on the platform of PDP and before one defected to APC. The councils were already dissolved by the governor by the time he defected, and we were already in court. Anybody who joined APC did so as a former councillor or chairman, not as a serving councillor or elected chairman.

Because when Governor Masari dissolved the local government councils, there wasn’t a single seat occupied by an APC member in all the 34 local government areas; 361 councillors, 204 supervisory councillors, 34 vice-chairmen, 34 chairmen, and 34 secretaries: none of them was an APC member.

Is the government’s claim that it paid 80 per cent of the entitlements true?

It is not true. As far as I know, the state gov-

and chairmen who defected to APC? Everybody would be a beneficiary provided you were elected or appointed in 2014, and you are part of the people that were dissolved illegally by Governor Masari. The Supreme Court directed that all their entitlements should be paid. So whether you are APC or PDP as of now, that one is not our concern. Our concern is that at the time when the election was held, all the winners were PDP. It was when the governor dissolved the local government councils that the former chairmen and councillors started joining the APC. Our struggle is for all of them. We consider all of them as PDP. Any councillor or chairman that served under that period is a PDP member. For us, all of them are included. It is left for those who defected to APC to decide whether they will surrender their entitlements to the government or not. But for us, it is comprehensive, all-inclusive, and nobody is left out. The affected persons were supposed to spend two years in office, but they spent only nine months. They have 15 months and eight days to be paid.

Majigiri ernment never paid a single Kobo to anybody, and even if they did, it is illegal.

If you defected to APC, you can’t collect one Naira officially as your entitlement.

The Supreme Court made a decision on May 7, 2021. If the government is claiming that last two years, they have given money to some people, what is their defence? What do they rely upon to give anybody one naira? Why? I think the money they said they gave was just to mobilise people for their campaigns in 2019 but not in relation to their entitlements. They mobilised many people to join their party to win the election in 2019, and the defected chairmen and councillors are part of those teeming populace. Maybe that was the incentive they gave them to join the party, but it is not an official payment of their entitlements as decided and directed by the Supreme Court of Nigeria.

Nobody can testify to us that he has received money from the state government. If the government is sincere, let them come out with the documents that they made payment to anybody. Besides, if they gave money to anybody, it is a contradiction of their action because they dissolved the local government councils on the allegation that they embezzled money. How can you give money to a person who you dissolved because he embezzled money?

We were in court to seek justice for our dissolved elected local government officials, and we were directed to come and have our entitlements on May 7. So, it does not make sense that someone struggling to go back to office can have his entitlement paid overnight? There is no way the Katsina state government can claim that they gave the dissolved chairmen and councillors money before the judgment of the Supreme Court.

Anything prior to the judgment of the

Supreme Court is not formal, and we are not aware of anything.

There are speculations that you wrote to the government demanding the entitlements of the officials be paid into the PDP’s bank account.

Is it true?

It is not true. The state government has collected all the documents from our lawyers. It is between the lawyers, the court, and the government. It is not between the party and the government or any individual and the government.

So, if the government is to respond, they will respond to the lawyers, not PDP as a party, not former councillor or chairman as an individual. But the lawyers because the matter is now 100 per cent a court affair.

We are not asking anybody to give PDP money. We are saying, ‘pay these people their entitlements as directed by the Supreme Court of Nigeria on the 7th of May, 2021, and you must abide by the deadline given by the court, and the Attorney General of the state must submit an affidavit of compliance on/ before 31 of August 2021.’ We are not saying the money should be paid into the PDP account.

Our own is just to wait for the government to effect the payment, and if those concerned are paid, we will hear from them that they have been paid, and evidence will be made available to the court. If somebody is claiming that he gave some councillors or chairmen money, he should come forward with the evidence of payment before the court.

On whose directive did you give them money? We need to know because the government cannot give money without anything to rely upon.

What is the fate of those councillors

The victory is not only for Katsina PDP. It is a victory for the local government system throughout Nigeria because this judgment would give security to the tenure of local government councils. With this judgment, no governor can wake up in the morning and dissolve elected local government officials

The Funtua zonal vice caretaker chairman of APC, Bala Abu Musawa, said Katsina PDP has no leadership after the state high court judgment. What is your take?

I think he has mistaken PDP for APC because PDP has never lost leadership in the past 21 years in Katsina. Since PDP registered as a political party up to this moment, we have never lost leadership in Katsina. We were in control of the state for 16 years. We lost an election in 2015. From 2015 to date, we have one PDP in Katsina. We can’t deny the fact that we have internal party issues. That one is an intra-party issue that can be addressed internally, but some went to court. I know that is what he is referring to. The matter was at the high court, and there were two judgments. The two judgments are already before the Court of Appeal.

All the records for the two judgments have been moved to the Court of Appeal. The status quo must be maintained pending the decision of the superior court. In waiting for the decision of the Court of Appeal, the status quo would be maintained. The leadership of the party remains until the superior court decides otherwise. That is the position of the law.

It is APC that doesn’t have leadership in Katsina. They were given six months to serve as caretaker committees and the six months expired on the 25th of June. I think he is trying to say, ‘we don’t have APC leadership in Katsina state’. The PDP has successfully conducted its congresses in line with our party’s constitution, guidelines, Electoral Act, and the Constitution of the Federal Republic of Nigeria.

We have our leadership and all the structures in place. It is only the APC that doesn’t have even an ex-officio in the ward that is elected through congress. Even if some people are challenging the congress, it is an issue before the court. If you do anything, it is against the law. For Katsina APC, the time given to them has lapsed.

What are you doing to unite aggrieved members ahead of the 2023 general election?

The PDP is a very big party, and it has mechanisms for settling disputes and conflicts. As usual, PDP will reconcile with all the aggrieved members, and by God’s grace, 2023 will be our own turn because people have tested the leadership of APC. They have seen what they have never expected to see. They are feeling what they never expected to feel.

It is very clear that APC and PDP leadership cannot be compared. The entire machinery of government has failed at all levels. Nothing is happening. Nothing is going well, unlike the period when PDP was in charge. Look at what is happening with NECO and WAEC examinations in Katsina. Look at what is happening with the assets owned by the government in Katsina.

The government has no direction and focus.

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T H I S D AY ˾ THURSDAY JULY 29, 2021

POLITICS

Olisa: Nigeria Is by Default a Divided Nation The President of Igbo National Movement, Anthony Okolo Olisa is also the Managing Director of Royal Niger Emerging Technologies Limited, a legal practitioner and entrepreneur with strong political views.

He spoke with Emmanuel Ugwu-Nwogo on what he feels is the way out of Nigeria’s political conundrum

T

he current parlous political situation in Nigeria has thrown up many organisations agitating for one thing or the other. What agenda is INM pursuing?

Simply put, the Igbo National Movement (INM) is a movement created to re-establish our Igbo nation. It is established for the progress of the Igbo nation or as we call ourselves, “Ndigbo” wherever we may be found on the earth, and also for the development of Igbo homelands or “Ala-Igbo”, through the enhancement of our Igbo republican institutions. The movement envisions the development of a nation of Ndigbo, arising into the world polity with a society that encourages justice, merit, equality and treats people with respect. Reinforcing this vision are three core values: justice, equality, and merit.

Ndigbo meet all the criteria for nationhood. We have a common tongue, a common territory which is known to us and our neighbours, a common culture and now, a common purpose to regain that which the British took from us forcibly. We have been indigenous to the lands that are home to Ndigbo for over 3,000 years and lived in peace with our neighbours all that time.

Why then should we look to the very recent past of the last 100 or so years, as if that is the foundation of our identity? No, Ndigbo are a far more ancient peoples than that, and as such, we are ripe for a re-awakening of who we are, and to seek to control our destiny in non-violent and constitutional agitation.

In this, I believe we are closely related to our brothers and sisters of other indigenous nations in Nigeria, who are also in the process of their cultural awakening. We commend the Ijaw, the Yoruba, the peoples of the Middle Belt and the plurality of Nigerian Indigenous peoples to take control of their individual destinies, and to call for a real debate on the path for a new future, for the administrative entity that is the Nigerian federation.

This, we believe will be achieved through a sovereign national conference of the Indigenous peoples of Nigeria. It is one of our objectives to make this call and to support all Nigerian indigenous peoples to join this call. It may be the only way to save this federation, by re-creating it into a system that the people can recognise and respect.

How do you hope to achieve that?

We wish to reassert our rights as an indigenous nation and for the federation to recognise these rights as well as the rights of all indigenous nationals who are desirous, to chart their own course, whether within a re-negotiated Nigerian confederation, or in a clearly defined commonwealth of independent Nigerian states.

No Nigerian, who is Nigerian by birth, can be a Nigerian, if they were not first born to the nations indigenous to the land, upon the amalgamation by the British in 1914.

To be Nigerian, is to be first; Igbo, Yoruba, Hausa, Kanuri, Ijaw, Jukun, Tiv or any of the various nationalities that make up the Nigerian federation. The promise of Nigeria lies not in replacing these identities, but in harnessing our diversity, allowing each to become the best version of ourselves.

The government and Nigerians know that at present, Nigeria does not have the soul of a federation made up of the administrative units we have come to know as states, but is at heart a federation of proud nations.

That is why most of the states created by the military have continued to fail to bring the people the development that they require.

They have failed to energize the loyalty of the people and the people question the legitimacy of these units consistently.

That is why we continue to have National Orientation Agencies and agitations for state creation as the people strive to connect emotionally with their local government.

That is why we continue to unsuccessfully mimic the British colonial administrative system of “divide and rule” and to export

the schools and universities of their choice, because they have the misfortune of having the intellect to score higher in an exam than a child born in the North, who would rather be with his cattle than in a classroom.

When we speak, we speak for the thousands who have had to run to other countries, in search of education and opportunity for their children, in the knowledge that the glass-ceiling that stops Ndigbo from ever being accepted as equals in the Nigerian enterprise, is firmly in place and unlikely to be removed. When we speak, we speak for Igbo traders, who are murdered for providing a service to others and maligned for having the audacity to thrive in an economy that rewards indolence. When we speak, we speak for every forgotten man, woman and child who sees Nigeria as a place that has no future for them to hope in.

We speak for them and we serve at their pleasure. We do not wonder where our support comes from because we speak for those who have the power. Rather, it is those who believe in the power of Abuja and Lagos who will have to worry about where their support will come from. Their Naira will never be enough to feed those who hunger for freedom.

Olisa

our national wealth to other nations, to the detriment of our own people.

How else can you justify the fact that we would rather sell our crude oil and other raw materials to foreign countries, than satisfy our own local demand for energy or means of production? It is just a hopeless situation which is based on faulty thinking.

The British knew this and fought hard to destroy our individual national identities because that was a way to keep us weak and easy to administer. Now we are governed by our own, we should not have the same fears the British did. We know ourselves and have traded and lived with each other peacefully for centuries as individual nations, so why do we think we cannot do that again?

To fear our diversity is to fear ourselves for who we are, and that is why the Nigerian project as designed by

the British, and continued by the corrupt military establishment is failing.

It is structurally defective and so is the constitution it has birthed. Our ideology seeks to end this system.

What level of support does your movement enjoy among the people you’re supposedly fighting their cause?

Ndigbo know the voice of the Igbo National Movement. It is their movement. They created it and they gave it a voice. When we speak, we speak for the millions who lost their lives in a war for survival, and for their generations who have suffered to rebuild all that we lost to war. When we speak, we speak for all the millions of Igbos who have to work silently in the ninistries or in the armed forces, who despite their brilliance are overlooked for promotions because they are Igbo. When we speak, we speak for the thousands who cannot go to

It is unfortunate that the Attorney-General of the Federation pretends he does not know the law. He seems to believe that a warrant of arrest in Nigeria can be executed at will internationally without the process of extradition – He is wrong. He thinks there is nothing unlawful in the Nigerian government kidnapping a British citizen who has renounced his Nigerian nationality, in a foreign country, which he has entered legally with a British passport. He is wrong. We believe he knows he is wrong, but we understand he must try to justify these illegal acts, because it is what the government wishes him to do. But justifying illegality is not the job of the Chief Law Officer of a democratic country. He must stand for justice and truth, even where it is against the instructions of the government he is part of

Are you saying that the present political leaders in Igbo land don’t measure up to expectations of the people?

With very few exceptions, the present political leadership in Ala-Igbo has failed to unite our people behind a common “postwar” ideology that meets the dynamism of Ndigbo. We are builders, democratic in nature and believe in merit. Ndigbo would rather perish in the field of work than go cap in hand to beg for our supper. This monthly pilgrimage to Abuja to beg and scrape for our livelihood is un-Igbo. It has to stop.

We have never really needed the support or interference of outsiders to develop our land. After the war, we pulled ourselves out of the mire, with very little help from the victorious Federal Government who impoverished us. We rebuilt all we see in Ala-Igbo today from a pauper’s dowry of £20 per person. The Imo Airport, the state universities, Anambra Broadcasting Service, vegetable oil production companies, palm-oil production camps, Innoson, Air Peace, Peace Mass Transit, Ibeto Industries, and many more than I can name, were all built in-spite of policies designed to subjugate and de-franchise Ndigbo, and without a penny of government support and certainly without government patronage. Even today, all attempts by policy or interference to kill these industries have failed to dampen the entrepreneurial spirit of Ndigbo. Pease tell me, how can these so-called leaders not realise that all we need from them is to support our internal economy and support cooperation among our people?

By failing to establish and implement a joint strategic plan for inter-state cooperation, that will build inter-state roads, railways, healthcare and financial systems, these leaders have lost legitimacy in the eyes of the people. By allowing themselves to become pawns in a greater play of mis-direction of effort from outside Ala-Igbo, they have sacrificed the future of millions of Igbo youth, who now have to sojourn far and wide to make an honest living. Abandoning our homelands which no longer can sustain their dreams and desires.

The people are awake and it is impossible to lull us back to sleep. Ndigbo will take back Ala-Igbo from these faithless overlords and will use the ballot box to put in people who have the interest of Ndigbo at heart, and who will serve our people the way we deserve to be served; – with courage, humility and a steadfast zeal to the progress of all peoples who live in our lands.

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

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T H I S D AY ˾ ˜ Ͱͷ˜ ͰͮͰͯ

FEATURES

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

Demonstrating Operational Capability in Securing the Maritime Domain In what was a multi-faceted deployment of assets of the Eastern and Central Naval Commands of the Nigerian Navy, both at sea and in the backwaters, Chiemelie Ezeobi reports that the recently held Exercise Beni Kekere was aimed at demonstrating their operational capability in securing the nation's maritime domain, as well as the Gulf of Guinea waters

FOC, Eastern Naval Command, Rear Admiral Sanusi Ibrahim and FOC, Central Naval Command, Rear Admiral Kennedy Egbuchalum, during the flag off

F

or the Eastern Naval Command (ENC) and Central Naval Command (CNC), Exercise Beni Kekere was an opportunity to deploy ships, helicopters and men for a joint sea and shore exercise targeted at demonstrating their operational capability in securing their contiguous areas of responsibility (AOR).

To achieve this, both commands deployed a total of eight ships, two helicopters, Maritime Domain Awareness facilities and elements of the NN Special Boat Services (SBS).

At the flag off, the Flag Officers Commanding (FOC), ENC and CNC, Rear Admirals Sanusi Ibrahim and Kennedy Egbuchalum, were both present in Port Harcourt, Rivers State.

While flagging off the exercise, FOC ENC, Rear Admiral Sanusi Ibrahim said the sea exercise would also include anti-piracy operations, protection of oil facilities and Search and Rescue operations among others.

"The exercise nicknamed “Beni Kekere” means ‘Water Protection’ in Ijaw language and aptly captures the primary responsibility of the NN, which is to protect Nigeria’s maritime environment against all threats.

"The exercise involves a multi-faceted deployment of the two commands’ assets both at sea and in the backwaters, and is aimed at demonstrating our operational capability to securing our contiguous Areas of Responsibility. Our area of responsibility falls within the Niger Delta region in line with the Chief of Naval Staff (CNS) Awwal Gambo Strategic Directive 2021," the FOC said.

He added that the sea exercise equally presents an opportunity to showcase NN's commitment to the regional security arrangement in the Gulf of Guinea, which Nigeria is a major stakeholder, adding that "Nigeria’s maritime domain is dominant in the Gulf of Guinea with its enormous resources and remains strategic to our national security and development.

"We are also conscious that these resources have been persistently threatened by piracy, sea robbery, crude oil theft and illegal bunkering as well as Illegal Unreported and Unregulated Fishing among other crimes. The NN and other security agencies have achieved landmark feats in curtailing these threats, the persistence of the

NN aircraft during the landing and taking off

Several times, criminals in the pursuit of their crimes crisscross the defined boundaries between the two commands.

Therefore, the essence of the exercise is for us to enhance our collaboration and interoperability which will give us greater cooperation in the cause of going after these criminals that operate in our waters perpetrators requires us to re-strategise in order to consistently deny them freedom of action".

The FOC said that it was in this regard that the Eastern and Central Naval

Commands joint exercise, which was first of its kind in recent years, organised the sea exercise to "consolidate on the successes of the ongoing Operation CALM WATERS.

"Concurrently, the operational bases and Naval Security Stations (NSS) in the two commands will conduct clearance operations against criminals’ hideouts, and illegal refineries in the backwaters in collaboration with Op DELTA SAFE. I am positive that the joint exercise will add impetus to the CNS' aspiration for improved maritime combat readiness of the NN through training," he added.

He said that the sea exercise would equally provide the necessary ‘bite’ to the nation’s anti piracy law that was recently passed by the National Assembly. The Federal High Court last week passed judgement against 10 notorious pirates arrested by the NN on May 15.

"On behalf of the Eastern and Central Naval Commands, I express our profound appreciation to the CNS for providing the necessary support for the execution of this exercise. We shall continue to work assiduously to accomplish the NN quest for a safe and secure maritime environment," the FOC said.

Similarly, the FOC, Central Naval Command, Rear Admiral Kennedy Egbuchalum, said the reason for the maiden joint operations was because criminals at sea did not respect defined sea boundaries.

"Several times, criminals in the pursuit of their crimes crisscross the defined boundaries between the two commands. Therefore, the essence of the exercise is for us to enhance our collaboration and inter operability which will give us greater cooperation in the cause of our going after these criminals that operate in our waters. Therefore, we will collaborate together such that wherever the criminals are whether in the Eastern or Central Command, we will be good to get at them," he said.

Also speaking, Officer in Tactical Command, Commodore Olusanya Bankole, who doubles as CNC Fleet Commander, said the exercise would include six port operational bases, adding that that five of the ships had already departed on Sunday for the sea exercise and that they would be joined by others after the flag off exercise.

"We also have the air assets and elements of the SBS that will be deployed with us and the exercise is of a continuous nature. I thank the FOC's for allowing us to deploy the assets under their command and assure them that the assets will be used justifiably," he added.

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T H I S D AY ˾ ˜ Ͱͷ˜ ͰͮͰͯ

#THISISNIGERIA - Helen Attah

The Travails of The Youth Party

Helen Attah

W

ithout the rule of law, we have no democracy. We have been on this journey for four years. Despite having the Constitution and several judgments from the court on our side, we have been victims of a commission that lacks respect for the rule of law and has chosen to play God. For what is a society where public institutions created by statutes have scant regard for the rule of law and the courts that uphold them?

Little wonder RJ Intindola, the famous poet, philosopher, and writer, once claimed that, "If we do not have justice for the rule of law, then society shall be broken."

The Youth Party commenced registration in December 2016 but was not registered until 14th August 2018, just days before the commencement of primaries for the 2019 general elections. This was despite a judgment of the Federal High Court delivered in October 2017. This undue sabotage from the Independent National Electoral Commission (INEC) affected our ability to perform at the 2019 general elections.

Nonetheless, we fielded 11 candidates for the House of Representatives and the State Houses of Assembly all over the country in those elections.

In late 2019, INEC threatened to deregister the Youth Party without due process or recourse to the Constitution's provisions.

To forestall the threatened deregistration, we commenced a court action against INEC in January 2020 at the Federal High Court, Abuja and judgment was delivered in our favour on 12th October 2020. Subsequently,

INEC appealed against the decision of the Federal High Court, Abuja, and the Court of Appeal ruled through a unanimous judgment delivered by Hon. Justice T.Y. Hassan, that our purported deregistration was illegal, null, and void.

It, therefore, defeats logic that despite the judgment from the Appeal Court, INEC initially refused to list our party's name on its website as a registered party or allow us to participate in any election. INEC's flagrant disregard of the court's ruling is a breach of the universally and constitutionally protected human rights of our members to freedom of association. The assault on our judiciary by INEC cannot continue if we intend to preserve our democracy. Perhaps it was this dissent to the chaos that Justice I.E Ekwo decided to avert when he boldly declared in his ruling against INEC that: "... the Defendant is not above the law. No person or parties to an action is allowed to resort to self-help when an action is pending in court. The claim that the Defendant has power pursuant to S,225A(b) & (c) of the 1999 Constitution (as amended) to deregister a political party does not justify the action of

the Defendant while this action is pending. The Defendant must understand that the constitution is not an author of confusion. I condemn the action of the Defendant as a wrong exercise of might. Therefore, the deregistration of the Plaintiff during the pendency of this action by the Defendant is illegal, null and void, and liable to be set aside. Consequently, I hereby make an order setting aside the deregistration of the Plaintiff."

Also, in a unanimous judgment by the Court of Appeal delivered by Honourable Justice T.Y. Hassan, J.C.A., the court frowned at INEC's notoriety, declaring that: "This court will not hesitate to sustain the decision of the lower court which pulled down and dismantled the edifice that the Appellant built on self-help when it deregistered the Respondent not only during the pendency of the Suit but when it had been served with and had reacted to the motion for an interlocutory injunction seeking to restrain the Appellant from the very act it helped itself to actualize extra judicially. To say the least, we find the Appellant's action very reprehensible. The Lower Court, as any court of law would have done, acted correctly by setting aside

The Youth Party will continue to challenge the Commission's role in inadvertently creating a two-party system where the choices for Nigerians are grossly limited.

We, therefore, encourage INEC to revert to its statutorily imposed duty of neutrality as a regulator

the deregistration of the Respondent. We have no reason to interfere with the order made by the Lower Court and same be sustained."

It is essential to point out that this party has never contested INEC's powers to regulate the affairs of political parties. We have only argued that such powers must be exercised within the ambits of the law and that same be guided by the Constitution. We have further recommended to the National Assembly that the power to deregister a political party should only be exercised by INEC after obtaining a judgment from a competent court.

The Youth Party will continue to challenge the Commission's role in inadvertently creating a two-party system where the choices for Nigerians are grossly limited. We, therefore, encourage INEC to revert to its statutorily imposed duty of neutrality as a regulator.

Also worth mentioning is the fact that the Lagos State Electoral Commission (LASIEC) threatened to take sides with INEC in clear breach of the Constitution and the Appellate Court's rulings. Justice Ayotunde Phillips, the Chairperson of LASIEC, is a retired judge and should seek to protect the integrity of the men and women of the bench by ensuring that the Commission she now leads shows respect for the rule of law. The Youth Party contested in Saturday’s local government elections.

We will not be deterred or discouraged because we are fighting a good cause. We are fighting for a country that works for all Nigerians and not the one that works for a select few. We are fighting for a country where the rule of law is respected irrespective of social status or position.

We are fighting for the soul of our nation, and God is on our side. t )FMFO "UUBI JT UIF %FQVUZ /BUJPOBM 1VCMJDJUZ 4FDSFUBSZ PG UIF :PVUI 1BSUZ

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THURSDAY JULY 29, 2021 • T H I S D AY

23

T H I S D AY ˾ THURSDAY JULY 29, 2021

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

REPO 27.50% 28.75 %

CALL 1-MONTH 3-MONTH

A T

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

4% 6% 10%

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

J U L Y

2 8 , 2 0 2 1

S & P INDEX 1/4 TO DATE

535.12% 0.13% 0.40%

YEAR TO DATE

0.40% -20.10%

EXCHANGE RATE N411.50/1US DOLLAR* *AS AT LAST FRIDAY

WOMEN EMPOWERMENT PROGRAMME…

L-R: Government and Public Affairs Manager, INTELS Nigeria Limited, Rex Asaikpuka; Human Resources Manager, Dominic Onwujekwa; Best Graduating Student, INTELS Women Empowerment Programme Scheme Synergy (WEPSS) 2021 Batch A, Praise-Jah Ufot; and INTELS WEPSS Project Head, Nancy Freeborn; during the graduation of 34 trainees of the INTELS WEPSS 2021 Batch A at the Onne Oil and Gas Free Zone, Onne, Rivers State...recently

Take Advantage of $20million World Bank’s NG-CARES Loan, Kwara Govt Tells Business Owners Hammed Shittu in Ilorin

ECONOMY

Kwara State government has urged business owners in the state to take the chance of World Bank $20million loan earmarked for the state so as to cushion the effects of COVID-19 pandemic on their businesses.

The Acting General Manager of the State’s Social Investment

Programmes (KWASSIP), Mr. Brimah Muhammad made the charge in Ilorin during the sensitisation programme on Kwara NG-CARES for MSMEs. According to him, “We are here today for a town hall sensitisation meeting on MSMEs

across Kwara State to let them know about the CARES/ World Bank programme. It is COVID-19 Action Recovery and Economic Stimulus Programme which is set up to support MSMEs in various sectors and in various ways due to COVID-19 pandemic, the losses they may have incurred during that period.”

Muhammad added, “What we intend to achieve here is to enlighten MSMEs across Kwara state on how to apply.

The eligibility criteria to apply for the support the World Bank, federal government and the state government are providing to them. It is a loan from the World Bank to the federal government to the

tune of about $750million and in turn the federal government is also loaning the 36 states and FCT to the tune of about $20million per state.

“This will be shared across different result areas, which include social intervention support (result area one), food security (result area two) and MSMEs. This is where we are coming

in because we are partnering with the Bank of Industry which is the implementing partner with World Bank to implement this result area three. This is targeted at MSMEs. It is going to cover both the formal and informal businesses.”

“We need to enlighten them Continued on page 24

EIU: Internet Connectivity in Schools Will Boost GDP by 20% Emma Okonji An Economist Intelligence Unit (EIU) report sponsored

by Ericsson has found that nations with low broadband connectivity have the potential to realize an increase in GDP by up to 20 per cent by connecting schools to the internet.

According to the report, a well-educated workforce would be more likely to be innovative and foster ground-breaking ideas, leading to economic development and job creation.

The EIU analysis shows that for every 10 per cent increase in school connectivity in a country, GDP per capita could increase

by 1.1 per cent.

Among West African countries, the report indicated that improvements in school connectivity to finnish levels could increase GDP per capita by almost 20 per cent, from $550 per person in the baseline, to $660 per person by 2025.

The report focused on four

key actions to make a change, which it listed to include: Collaboration, Accessibility, Embedding Internet and Protecting Children Online.

In the area of collaboration, the report said a holistic, public/ private partnership strategy would be needed to coordinate efforts with stakeholders to

overcome barriers to school connectivity.

For Accessibility and affordability, the report explained that building infrastructure to enable access to the internet, would be a starting point.

Giving details about Embedding Internet and digital tools into education, the report said

once access to school connectivity is achieved, it must be embedded into the curriculum, and teachers must be trained to integrate technology into everyday learning.

In the area of Protecting Children Online, the report Continued on page 24

M A R K E T D ATA A S AT W E D N E S D AY J U LY 2 8 , 2 0 2 1 FGN BONDS DESCRIPTION 11.668 FGNSB 15-AUG-2021 10.301 FGNSB 16-AUG-2021 11.150 FGNSB 11-SEP-2021 12.364 FGNSB 12-SEP-2021 12.175 FGNSB 10-OCT-2021

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield

Change (%)

100.37

3.96

0.01

NTB 26-Aug-21

4.07

4.08

0.01

100.32

3.98

0.01

NTB 9-Sep-21

4.24

4.27

0.01

100.82

4.32

0.01

NTB 16-Sep-21

4.33

4.36

0.01

100.99

4.33

0.01

NTB 30-Sep-21

4.51

4.55

101.48

4.71

0.01

NTB 14-Oct-21

4.69

4.74

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS AUG 25 2021 420.93

2

NGUS SEP 29 2021 422.38

3

NGUS OCT 27 2021 423.83

0.01

4

NGUS NOV 24 2021 425.28

0.01

5

NGUS NOV 24 2021 426.42

C Ps MATURITY

Discount Yield

Change (%)

MREP CP XXXIII 29-JUL-21 CMBL CP XI 2-AUG-21 MREP CP XXXI 13-AUG-21 UNCP CP III 27AUG-21 VAAG CP I 27AUG-21

7.70

7.70

0.01

4.78

4.79

0.01

9.75

9.80

0.01

5.23

5.25

0.01

11.13

11.23 0.01

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THURSDAY JULY 29, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

TAKE ADVANTAGE OF $20MILLION.WORLD BANK’S NG-CARES LOAN, KWARA GOVT TELLS BUSINESS OWNERS

Development of W’Africa May Stagnate without ICT, Says ECOWAS Parliament

on how to apply, the eligibility criteria, which each category of businesses will benefit in terms of the grant sizes available and the major business disbursement link indicators (DLI) that we are targeting. These include businesses that collected loans during COVID-19 period. The plan is to offset 40 per cent of the loans they’ve collected.”

He stressed, “We have the second DLI which is supporting the overhead costs of businesses.

Basically, these include the operational costs, salaries, utility bills, security bills and that of alternative power. And the third is the technology support to businesses. We need to advance businesses like hardware and software and other devices.

“The turnout was very impressive. We invited representatives of clusters of businesses and associations across the state. We also have members of transition implementation committees and other agencies relatively dealing with SMEs in Kwara State.”

Speaking on operational support grant, the official in-charge of Disbursement Link Indicator 2, Mr. Jaye Jegede explained that the programme would support government’s interventions that help MSEs retain their staff and operational costs.

He said, “Grant to MSEs to cover 50 per cent of the operational costs, including staff salaries, documented utilities, documented private security expenses, rent and mini solar panel acquisition expenses. Under DLI 2, it will be targeted at formal/informal micro, small and medium enterprises who are involved in active commercial activity within the state.”

Speaker of the ECOWAS Parliament, Mr Sidi Tunis has said development in Africa, particularly in West Africa may be stagnation without countries in the sub-region embracing Information Communications Technology (ICT).

He stated this while speaking at the opening of the ECOWAS Parliament’s De-localized meeting on Telecommunications as Development Factor in West Africa, holding in Winneba, Ghana.

While lamenting that West Africa and the entire Africa continent is lagging behind in ICT, he said it may be a tough ask to look forward to African countries making reasonable advancement in technology and development without making headway first in ICT. He said the ECOWAS Parliament decided to bring the issue to the front burner, in order to enable member states to brainstorm on how to use ICT in advancing development and policies in their countries.

He said: “Organisations use ICT to organise trans-national networks in response to international competitions.

ICT is transforming societies and fueling the growth of the global economy.

“Permit me to state the obvious that a lot of the challenges bedeviling our sub-region already have their solutions in ICT. Therefore, the deliberations of members of the joint committee over the next few days should lead to sound recommendations for our community as the region is currently affected

Michael Olugbode in Abuja

EIU: INTERNET CONNECTIVITY IN SCHOOLS WILL BOOST GDP BY 20% added that school connectivity would provide opportunities for children. Additional steps must be taken to ensure healthy and protected online learning environments. Internet usage must be properly managed to ensure safe and secure use, the report further said.

It also recommends that public, private and NGO sector leaders around the world could make a dramatic impact towards bridging the digital divide by joining forces to make internet connectivity a global reality for school children of all ages.

Based on the report, Ericsson has appealed to industry players to key into the Giga

Group Business Editor Eromosele Abiodun Comms/e-Business Editor Emma Okonji Aviation Editor Chinedu Eze Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafo (Energy) Emmanuel Addeh (Energy) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

initiative, which is a school connectivity initiative founded

by UNICEF and the International Telecommunication Union, through actions such as: funding, data sharing, technological expertise and reimagining sustainable business models for connectivity.

Ericsson has committed its efforts through a three-year partnership with UNICEF to help map the current school connectivity gap across 35 countries.

The Ericsson-backed EIU report, titled ‘Connecting Learners: Narrowing the Educational Divide’, has reinforced the company’s belief that the ambitious goal of Giga, to connect all schools and their surrounding communities by 2030 is achievable.

Vice President of Sustainability and Corporate Responsibility at Ericsson, Heather Johnson, said: “When Giga was announced, we immediately understood the positive impact it could deliver - bridging the digital divide between and within countries, to give children the world over the opportunity of bright and rewarding futures.”

She added: “The report makes it clear that partnership between business leaders, public sector leaders and NGOs can take effective action to address this issue and significantly impact lives. Every player in these sectors, no matter how big or small, can make a difference. We encourage stakeholders to read the report and more importantly join the Giga initiative to help realize this important goal.”

by waves of violent extremism, terrorism, humanitarian crisis and global pandemics.”

Tunis asked member countries of ECOWAS to consider the merits of latest technological advancements, innovations and intelligence as viable tools to curb insecurity in their countries.

He said: “After all, evidence shows that societies mired in violent conflict are often characterised by a lack of development and shortages

of economic opportunities. So, we must strive for the return of peace in our sub-region as it remains the key component to sustainable development.”

He however commended Ghana for becoming a major ICT hub in West Africa with the decision of tech companies to situate their continental headquarters in Ghana.

In his remarks, the Speaker of the Ghanaian Parliament, Hon. Alban Babgin, said the theme of the meeting was

apt and reflected the growing recognition of the importance of ICT in dealing with myriads of problems faced in the subregion.

Babgin said that in recent times, ICT services had become an indispensable tool in the development of every facet of society, whether in the health, education, agriculture or trade or industry sectors.

He said: “Indeed, telecommunications play an increasingly vital role in enabling the

participation and development of people in communities and nations disadvantaged by geography, whether in rural areas of developing nations or in the global society and economy.

“As you may all be aware, the sub-region is confronted with various challenges such as drug trafficking, child trafficking, proliferation of and trafficking in small arms, organised crime, money laundering and terrorism.

ENSURING ADEQUATE POWER SUPPLY…

L-R: Member, Senate Committee on Privatization, Senator Isah Jibrin; Director, Egbin Power Plc, Mr. Kola Adesina; Chairman, Senate Committee on Privatization, Senator Theodore Orji; Vice Chairman of the committee, Senator Adelere Oriolowo; Clerk of the committee, Mrs. Sadiya Abdullahi and Chief Technical Officer, Egbin Power Plc, Mr. Sikiru Gbadamosi, during the committee’s oversight visit to Egbin Power Plc in Lagos…recently PHOTO: ABIODUN AJALA

FG Urged to Adopt Bangladesh’s Export-Demand Industrial Policy Model UgoAliogo The Director-General, Nigerian Institute of International Affairs (NIIA), Professor Eghosa Osaghae has advised the federal government to adopt an export-demand industrialisation a policy similar to the Bangladeshi model.

Osaghae, a former Vice-Chancellor of Igbinedion University, Okada in Edo State, said the policy had been identified as the major propeller of Bangladeshi economic turnaround.

Osaghae made the call recently in Lagos during the Ambassadorial briefing with the Bangladesh High Commis-

sioner to Nigeria, Mr. Masudur Rahman.

He explained that the export-demand industrialisation policy would enable Nigeria to respond to the global market and also exploit beyond its borders.

The Director-General noted that this policy would also enable Nigeria to invest in its neighbouring countries which is the principle of immediate Neighbourliness as part of economic diplomacy.

According to him, “The main thrust of the Bangladeshi’s story is that it is hinged on Exportdemand industrialisation, which

means they are responding to the global market not only in terms of how people can come to invest in Bangladesh but how Bangladesh can exploit beyond its borders.

“We are doing that but we are still following the old-style import-substitution industrialisation policy, which is also helpful in growing our local capacity.

We should be doing more of those things to shore up our exports. As part of our economic diplomacy, we should invest in our neighbouring countries which is the principle of immediate Neighbourliness which is very crucial to our foreign

policy.”

Osaghae however added: “But, maybe we should become more conspicuous in investing in our neighbours. And I think we have started with railway extensions to Niger. If you go to Togo, you would hear stories about the electricity supplied there and largely subsidized

by Nigeria. It would help strengthen Nigeria’s overall influence.

“So, because Bangladesh has strong evidence-based successes in these areas, I think there is a lot we can get through Bangladesh in the area of closer collaboration and partnership.”

Unique NIN Enrolments Hit 59.8m with Average of Three SIMs Emma Okonji The total number of unique National Identity Number (NIN) that has been verified across networks in Nigeria has reached 59.8 million as at July this year, according to recent statistics released jointly by the Nigerian Communications Commission (NCC) and the National Identity Management Commission (NIMC).

According to the statistics, a single subscriber with a single NIN has an average of three to four SIM cards, a development that gave a sharp rise in the number of active telephone lines across

networks, which is currently over 200 million, up from 192 million as at May this year.

The recent figure on unique NIN enrolments shows an increase from 57.3 million unique NIN enrolments in June this year to 59.8 million unique NIN enrolments in July this year.

The unique NINs are the number of verified NINs that have been linked to all SIM cards registered by the NIN owner.

However, some NINs are yet to be verified, even though the NIN owners have submitted their NINs for verification through their

network provider.

The number of subscribers that submitted their NINs through the networks of MNOs, was 90.35 million in March, representing 46 per cent of the total number of subscribers. The figure increased to 90.38 million in April, representing 47 per cent and further increased to 95.6 million in May, representing 49.7 per cent. Between June and July, more NINs have been submitted for verification, following the extension granted by the federal government for NIN enrolment and submission.

A joint statement signed by

the Director of Public Affairs at NCC, Dr. Ikechukwu Adinde and the Head of Corporate Communications at NIMC, Mr. Kayode Adegoke, to announce the extension of the deadline for NIN enrolment and verification from July 26 to October 31, 2021, said: “There are now a total of 59.8 million unique NIN enrolments, with average of three to four SIMs per NIN. With the great number of enrolment centres within and outside the country, and many more coming up, every citizen, legal resident, and Nigerian citizens living in diaspora should be able to obtain their NINs.”

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T H I S D AY ˾ THURSDAY JULY 29, 2021

BUSINESSWORLD

INTERVIEW

Onuegbu: Emerging Technologies Will Enhance Network Connectivity Executive Vice Chairman, Signal Alliance, Mr. Collins Onuegbu, speaks on the need for organisations to adopt emerging technologies to boost network connectivity, integration and data security. Emma Okonji presents the excerpts: database of all Nigerians and everybody living in Nigeria. Government will then be able to identity every individual through the national database.

With this perpetrators of crime could easily be traced and apprehended. So government must first address the issue of identity management in the country, in order to address national security challenges.

The technology to address Nigeria’s insecurity is available. What Nigeria needs is proper policy implementation to address her challenges.

How will you describe the impact of network connectivity on business growth, productivity and security? e use technology to serve organisations, and the organisations then use the same technology to serve their staff and customers. Signal Alliance is a Business-to-Business (B2B) company and our focus is to offer technology solutions that will help for proper network integration processes in organisations.

As technology evolves, the needs of organisations get expanded and what we do is to provide a service that allows organisations to seamlessly provide services to their customers. So, the impact of our services to organisations have been great because customers needs have over the years, increased and our service provisions to orgnisations have been impactful because the services have helped organisations to connect more branches to serve their customers better and secured.

W

What are your specific service offerings and how have organisations adapted to your solutions in driving business growth?

Signal Alliance is an integrated technology company, providing integration services to customers, using technology. Signal Alliance as a company, has diversified its technology investments and we offer a whole range of technology services to organisations. Signal Alliance Consulting for instance, still offers consulting services to corporate organisations, irrespective of what kind of technology services the organisations are offering their customers.

Signal Alliance Cloud provides cloud computing services to organisations, and it has helped a lot of orgamisations move to the cloud, and we are planning to scale our Cloud Company across Africa, to enable our customers move to the cloud fast. Before the spread of COVID-19, we were persuading organisations to move to the cloud, and the response was low. But today, organisations willingly want to move to the cloud because COVID-19 has forced all businesses that want to remain in business to move to the cloud, since all businesses are going online to avoid physical contact as part of COVID-19 protocols.

We also have an arm that is developing the FinTech and Startups as well as in the health industry, using technology to drive healthcare delivery system. We have also invested in the enterprise business, providing enterprise solutions to corporate organisations.

How do you address interoperability of your solutions with existing solutions offered by other service providers when marketing your solutions?

One of the opportunities for business diversification, is that it gives room to find new customers and to offer new services to customers. So to speak about interoperability, I will say that each of our solutions is innovating, scalable and interoperable with existing solutions. For example the Enterprise Resource Planning (ERP) tools we are using now has evolved with time and quite different from ERP solutions of the past, and that evolution will continue, which gives room for interoperability of solutions, where by older technologies are scalable and newer technologies are able to synchronize with older technologies.

How are you leveraging emerging technologies, like Artificial Intelligence (AI), Internet of Things (IoTs), in providing quality service to organisations?

The bottom line in service offering is to satisfy the customer and ensure business resilience, growth and sustainability, and we leverage emerging technologies to achieve all of these.

So every service we offer organisations today, is embedded with emerging technologies that offer quality experience for customers that use our solutions and services. The projection about IoTs is that every device will be connected to the internet in the next five to 10 years, in order to enhance connectivity and ease of operation.

What we are doing as technology solutions providers, is to work towards achieving the connectivity projection and ensure that devices are all connected to the internet. This will in turn help to deepen the market to the point where more people can use the services to improve their lives.

How do you guarantee IT security for organ-

How will you describe the IT Policy implementation in Nigeria and what are the hiccups?

The National Information Technology Development Agency of Nigeria (NITDA) is responsible for Information Technology (IT) Policy Implementation in the country, and NITDA has evolved over the years. We have minister that supervises NITDA operations, and several ministers have accomplished some level of IT implementation in the past.

Some policies have been implemented and some implemented in very difficult environments.

Onuegbu

isations, given the rise in cyber insecurity across the globe?

We have a Cloud Company that helps organisations move their services to the cloud and we take security very seriously, because as services move to the cloud, they are more exposed to vulnerabilities, which we try to guard against by introducing high level security in all our solutions and service offerings. So we go the extra mile in protecting customers from online hacking and other vulnerabilities.

Today there is cyberspace war, where hackers are everywhere attacking organisations’ websites, just to steal data or make it dysfunctional. Countries are also attacking each other in cyberspace and there is a whole lot of attacks going on in cyberspace. As solution providers, we take cognisance of all these attacks and try to build security architecture around our solutions and services in order to protect customers and organisations. Nigeria as a country, has the obligation to protect its cyberspace from the ongoing cyberwar in the cloud.

Cybersecurity has become a thing of necessity to organisations and individuals, and as a technology service provider, Signal Alliance is doing everything possible to protect organisations that we provide services to. We have reached a level where people steal the identity of others, distort the information, deface the image and use it for criminal intentions. So we are all living in cyberspace where there are lots of cyber wars taking place and organisations as well as individuals, need to be protected.

As pioneer in the technology industry, how will you describe the transition from mainframe computers to personal computers?

The transition to personal computing started in the 90s and we were part of the transition. When organisations started using personal computers (PCs), it was easy for them to acquire PCs for their staff.

After the emergence of PC, there was the need to connect the PCs together for seamless communication, which led to the interconnectivity era, using Wide Area Network (WAN), to enable people connect to each other, via their PCs. That was when Signal Alliance saw the need to connect organisations and their staff

to a central server and data centre, through network integration process, and we became Network Integrator to organisations.

Giving the limited infrastructure during transition period from mainframe computers to personal computers, how was Signal Alliance able to scale business processes at that time?

Connectivity at that time was a challenge at various levels, because internet was at its infancy stage at that time. It was a period when we were using modems to connect to the internet and the modems were slow in connectivity at that time, and the NITEL SAT3 was the only broadband internet provider then. What we did at Signal Alliance then was to use the telephone to connect to modem before connecting to the internet before we could communicate with customers. At a point, we had to use pager to connect to customers because there were no mobile phones then. So, connectivity and communication were very difficult in the past, but today, new technologies have emerged to enhance connectivity and communications speed.

Technology is evolving and technology solutions are becoming more available, yet Nigeria has serious security challenges. How can government tap into existing tech solutions to address national insecurity?

Technology is an enabler and there are lots of things that technology can help us to achieve, even in the area of security. For Nigeria to address her security challenges, government needs to address the issue of identity management and data protection.

Developed countries of the world are using technology to address identity theft and data protection and Nigeria can do same to address her security challenges. Technology allows government to know the exact number of the country’s population and what each citizen is doing and where they reside, and these are some of the foundational task before the Nigerian government that will help her address insecurity across the country.

For example it is taking a longer time for the National Identity Management Commission (NIMC) to complete the registration of National Identity Number (NIN) of all citizens of Nigeria. By the time it is completed, and all registered NIN are linked to SIM cards, it will become easier for government to have the

Signal Alliance clocked 25 years in exitence recently. How has it been doing technology business in Nigeria, and what were the challenges?

The tech space is a difficulty industry to do business and Nigeria is a difficult country to do business, but despite the difficulties, technology businesses and other businesses still manage to survive the difficult terrain.

For the past 25 years, Signal Alliance has tried to provide the best of service offerings and solutions to organisations, and has garnered quality experience in the past 25 years of doing tech business. One thing I have learnt in the past 25 years, is that it is not possible to do business outside of the context of the economy. Most people that set up their own business, sometimes think that they can operates outside of the overall economy, which for me, is a grave mistake on their part. So no business should work in isolation of government and businesses must have good relationship with government.

The challenges of doing tech business in Nigeria are enormous, but we need patience to weather the storm.

How will you describe adoption rate of new technologies by organisations before COVID-19 and post COVID-19?

COVID-19 has helped in driving the adoption of specific solutions, which organisations hitherto did not consider as important to adopt. Adoption of tech solutions is slower with organisations and government than individuals, the reason being that it takes budgeting circle to get approval for the adoption of new technologies.

Before the spread of COVID-19, Signal Alliance was persuading organisations to adopt cloud technology solution, and majority were slow to adopt, but as soon as COVID-19 sets in, the orientation of the organisations changed and they saw the need to adopt cloud technology and move their operations to the cloud, because all businesses, including government businesses are now moving to the cloud.

What is your view about the challenges faced by indigenous startups in accessing local funding, a development that has compelled them to look for international funding from Angel Investors?

I have been into investment and funding of startups as Angel Investor in the past seven years, and if comparisons are made in terms of the funds we were raising in the past, and the funds we are raising now, it will be obvious that the growth has been very phenomenal. It has grown over the years from a low base, and this is what is actually attracting the foreign funding you talked about.

I think the local Angel Investors are doing well and have succeeded in attracting foreign investments. The number of local Angel Investors is growing by the day and that alone has funded lots of startup projects in the country. The group of Angel Investors that I belong to, has funded several startups in the past and recently, and I see more of that funding locally.

What is your view about the future growth of Signal Alliance?

Signal Alliance started as a technology startup, and going forward, we want to see ourselves as a platform of Venture Company, and I will like us to venture into new areas of business.

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THURSDAY JULY 29, 2021 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

‘Nigerians Can Create Wealth with Basic Technology’ Founder and CEO, Zigzag Nation, Mr. Obafemi Giwa-Amu, in this interview with Emma Okonji speaks about how Zigzag Nation is driving financial inclusion, wealth creation, using digital mobile platform. Excerpts: as currently being championed by the federal government, through the Central Bank of Nigeria (CBN).

With the Zigzag Finance platform, anyone can have access to electronic cash transaction and carry out savings without physically opening a bank account. So it gives people access to financial transactions, which is what financial inclusion is all about. We are giving everybody on the Zigzag platform a SIM card that will enable them have access to free phone calls to all Close User Group (CUG) members, after loading airtime of just N1,000 per month. Apart from the unlimited calls to all members, the person also get 1.5 Gigabyte data every month. The regular ATM debit cards that people have, will not enable them to shop with it in foreign countries, but with with the Zigzag virtual card, members can shop online in far away countries like China, Hong Kong, Dubai among other countries, an evidence of how to promote financial inclusion among Nigerians.

How will Zigzag Nation enhance wealth creation, and integration of African youths in achieving digital transformation? igzag Nation has commenced the first phase of a systematic and rewarding empowerment programme for Nigerian youth, focused on skills development, job and wealth creation.

The initiative is an all-encompassing empowerment programme for Nigerian youths, spread in two-fold; job creation and self-employment.

The two-fold training are forerunners that will be followed by programmes that will pivot on wealth creation, savings culture and financial independence.

The empowerment programme will subsequently be open to African youths as Zigzag Nation embodies a cross-pollination of different African people of positive vibrations under one nation.

Though global in outlook and orientation, the Zigzag Nation remains, for now, an African platform for people of different cultures to showcase their talents.

We have launched our Zigzag Nation Finance platform and will soon launch the Zigzag Nation Market place.

Z

What is the motivation and how can Nigerians and the African youths benefit from the initiative?

We are motivated by the large number of over 200 million Nigerian population, and we are willing to empower Nigerians through our empowerment programme.

Recent statistics puts it that Nigeria has over 44 million bank accounts, of which 18 million are corporate accounts. From that statistics, more than 160 million Nigerians without bank accounts are excluded from financial ecosystem. Before a bank account is opened, the bank asks for utility bills and other documents.

Nigerians are excluded because they cannot open a bank account based on difficult bank requirements. Most students who school outside of their towns and states do not have utility bills because majority of them squat with their fellow students, and some have accommodation on campus.

But Zigzag Nation has made it very easy and simple to open a bank account, using the Zigzag Nation Finance platform by downloading the Zigzag app on mobile phones. The app gives the user, several options like the virtual card, e-wallet, the opportunity to transact within and outside the country, and it takes less than five minutes to download the app.

So the Zigzag Finance platform, enables people to open bank account in few minutes and begin seamless transactions, using the mobile phone.

So we are motivated by several factors to empower the Nigerian and the African youths.

Several years ago, between 1998 and 2006, I used to facilitate the movement of Nigerian students to study French language abroad. My experience at that time showed that Nigerians who do not have transactional bank cards like the Mastercard or Visa card, pay double the actual amount, when they want to pay with physical cash.

So, we were paying double because we hadn’t the financial instrument to carry out financial transactions. We could not rent a car because we had no card to transact financially, and it became a challenge for us at that time. As soon as I and some others were able to get our cards, we started transacting at the actual cost and life became easy for all of us.

In Nigeria today, there are several people who are financially excluded and cannot do basic financial transactions with any bank.

To address the issue, home and abroad, we created the Zigzag Finance platform that enables people get virtual bank cards in less than five minutes and transact within and outside of the country, using the virtual card.

What are the other benefits of the Zigzag Finance platform?

The platform also helps in giving access to loan among close user groups who are contributors to the fund that gives them access to loan. A member can apply for a loan and gets it in seconds, use the loan to transact business, makes profit from the business, and return the capital to the collective fund and smile home with the profit.

Giwa-Amu With this, members could be empowered to do business of their choice and make profit.

So, the loan opportunity that no bank account holder can get from any bank, could be achieved on the Zigzag Finance platform for members of a close user group within the platform. If members of close user groups can be empowered this much, then millions of Nigerians can be empowered and also can be removed from poverty.

This is about wealth creation among a close user group and it supports a saving culture among members. Different group members can decide to save certain amount of money monthly on the platform and it is managed electronically on the platform, by the admin manager of the platform, who is also a member of the group. So the platform helps members to save money for investments purposes.

The good thing about it is that there is no risk taken because there is integrity among members. It’s about saving culture that exits before with different names from different tribes, but what we have done is to modernize it, using the Zigzag Finance platform.

In September this year, we will be launching the Zigzag Educational platform that will be loaded with training modules, through which we will train and empower Nigerians in various skills. The Zigzag educational platform will empower Nigerians to acquire special skills, own a business and grow their business.

How are you leveraging emerging technologies to achieve your goals?

We recognise the power of emerging technologies and we are leveraging Artificial Intelligence (AI) to drive our processes. At the bottom of Zigzag Nation platform is the embedded AI that drives the operations. There is poverty among Nigerians and the poverty rate is increasing, and we are saying that the offerings from Zigzag Nation platform can take Nigerians out of poverty, because the platform encourages skills development and saving culture that will help young men and women to have specific skills and access to funds to begin and grow a choice business.

It will also address youth unrest across the country, by meaningfully engaging the youths.

You spoke about Zigzag market place.

How does it operate?

The Zigzag market place is a place where everybody brings their goods and services to a single platform that is accessible to all.

The market place is a platform that will help showcase the goods and services to the world such that goods from Nigeria could be sold in far away countries in Japan, France, Italy, London, America among other countries. It is an online market place where people trade

on goods and services. With the platform, African Arts can be sold in far away Australia to people who value arts and sculptures. The same applies to other goods and services.

It has logistics services for the delivery of items purchased on the Zigzag market place.

Once a merchant buys variety of goods from different sites on the platform, the merchant goes to the delivery section online, choose the delivery company closest and with better price offering, makes payment and the goods are delivered to the preferred location.

How do you bring people onboard the Zigzag platform and what kind of skills are available to empower them?

We are currently working in partnership with several companies for the empowerment programme, where Nigerian youths will learn specific skills in shoe making , soap making, generator repairs, and other trading skills, like fashion design, and leather work.

After acquiring the skills, the platform also provides access to funding for the business to take-off. We have plans to bring courses like Masters in Business Administration (MBA) to the platform, and simplify it for those who are interested in the programme, and this will open in September. The MBA module will teach how to make money, how to access funds and how to manage funds for business. The Zigzag Nation platform also has a private placement opportunity were skilled people can be employed.

How would the training offered on Zigzag Nation platform help in bridging the skills gap and reduce dearth of ICT skills among Nigerian youths?

Our online training programs is a sure way to address dearth of ICT skills and at the same time, bridge the existing skills gap among Nigerian youths. Anyone on the Zigzag Nation platform can download the training modules free of charge, while those outside of the platform can also download, but at a fee. We are introducing ICT skills competition on the platform and that will encourage more people to acquire the skills and enter for the competition, where prizes will be won. Our platform offers solutions for total emancipation from poverty to wealth and we are beginning with Nigeria, before expanding to other countries of the world.

How will the Zigzag Nation empowerment programs help in enhancing the financial inclusion drive of the federal government?

We are empowering people and giving them skills acquisition and access to funds that will enable them transact electronically online, which is another means of bringing people into the financial inclusion ecosystem,

How will the empowerment programme help in diversifying wealth creation for Nigeria and make Nigeria less dependent on oil?

We are giving Nigeria and Africa a voice and an opportunity to diversify the Nigerian economy.

People will be trained from our different modules to acquire different skills. It was a huge mistake on the part of Nigeria not to have diversified the Nigerian economy in the past.

The dependency on oil alone plunged Nigeria into poverty level because countries are no longer buying oil, since they have devised alternative to oil and gas. In 2023, there will be no more diesel or petrol cars in Europe. Cars will be powered by electricity and this will eliminate carbon emission on the roads. Europe gave 10 years notice on its plans to switch from petrol-driven cars to electric-driven cars. They had since invested in alternative power and Nigeria must not be left out.

What we are doing with the Zigzag platform is to help diversify the Nigerian economy, and generate other sources of income outside of oil.

To what extent can the Zigzag initiative contribute to Nigeria’s GDP? Remember that our platform admits, are all open to various trades, including trading of farm produce. By the time we are able to pull farmers together to produce more farm products, and by the time we are able to train people to acquire specific skills, we will be helping to boost GDP growth of the country.

Nigeria looses so much on taxes because people do not pay taxes in the informal market, but with the Zigzag Nation platform where trade and financial transactions are carried out, it will be easy for members to pay tax on the type of business they do and in the type of transaction they do also carry out on the platform, thereby raising the contribution of GDP. With out digital platform, there is no hiding place. People will make money and they will be transparent enough to pay their tax.

How will you control everyone on the Zigzag Nation platform, to know what each person is doing in order to guard against fraudulent acts online?

In the digital world, there is no hiding place for people with wrong motives to defraud others. If there is any such wrong motive among members, the technology will detect and expose the individual.

Again we have three layers of authentication to access the platform, which of course, raises the security bar of the platform in order to protect every member of the platform at any given time.

What in your view will be the level of adoption of this initiative, and how do you foresee its growth in a few years time?

Nobody eats good food and goes back to poor food. So the platform is here to stay because of its growth potential that will make Africa and Nigeria, dominant force. The Zigzag app was built by Nigerians and the app is going places.

In the next few years, I foresee a tremendous growth of the platform and I see it driving digital transforming across Nigeria at a very high speed.

To get connected, Nigerians should download the app on their mobile phones, get an e-wallet and get started.

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T H I S D AY ˾ THURSDAY JULY 29, 2021

BUSINESSWORLD

E-BUSINESS NEWS

‘Funding Challenges Undermine SMEs’ Growth in Africa’ Emma Okonji Analysts who spoke at a recent webinar organised by the American Business Council in Nigeria, in collaboration with US Chamber of Commerce, Amcham Ghana and Amcham South Africa on the US-Africa relations, have identified lack of adequate funding as a major challenge to the growth of Small and Medium Enterprises (SMEs) in Africa.

The analysts were of the view that SMEs across Africa are faced with serious funding challenges, despite their importance to national development.

Citing the case of Nigeria, the analysts said: “Despite the significant contribution of SMEs to the Nigerian economy, challenges still persist that hinder the growth and development of the sector.

In Nigeria, SMEs contribute 48 per cent of national GDP, and account for 96 per cent of businesses and 84 per cent of employment.”

They explained that the Organised Private Sector (OPS) had raised concerns about the inability of manufacturers and small businesses to access the

various interventions amounting to N1 trillion from the Central Bank of Nigeria (CBN).

The Deputy Assistant Secretary of State for African Affairs, Akunna Cook shared that the United Stares of America is very keen to strengthen the Micro, Small and Medium Enterprises (MSMEs) space in Nigeria by encouraging US MSMEs to invest in Nigeria.

A 2018 survey carried out by the National Bureau of Statistics (NBS) in collaboration with the Small and Medium Enterprise Development Agency in Nigeria (SMEDAN), revealed that there were 41.5 million MSMEs in Nigeria.

According to a recent PwC survey, a funding gap of about N617 billion for small businesses exists in the country, necessitating the need for development finance institutions (DFIs) and other stakeholders to reduce access barriers against businesses in the country.

United Nations Industrial Development Organisation (UNIDO), in its recommendations on how to stimulate growth of SMEs, noted that for countries in fragile and conflictaffected situations like Nigeria,

the compounded impact of demand crises, disruptions to transportation and value chains, and limited availability of credit have been forcing MSMEs to cease operations.

Described as the backbone of the middle class, Cook, said at the webinar, that the United State government would be encouraging businesses especially SMEs to take a closer look at sub-Saharan Africa, urging smaller American companies to take advantage of dynamic African economies.

“We are also engaging numbers of the African Diaspora in the US who are interested in closer connection in Africa

including through increased trade and investment. Our engagement also includes the African Growth and Opportunity Act (AGOA), where 39 countries including Nigeria are AGOA beneficiaries and we encourage beneficiaries to take advantage of the opportunity to increase job opportunities and economic diversification.”

She reminded the Nigerian government that ad-hoc policies were detrimental to commercial operations which undermine the investment climate.

The US Ambassador to Nigeria Mary Beth Leonard, said African countries remained

US partners in pursuing its shared interests which includes global health, climate change, economic growth and many other areas, stressing that the US government sees great promise investing in Africa’s digital transformation to drive e commerce that will grow the MSME space.

Vice President, Public Affairs, in charge of EMEA, at American Tower Corporation, Ravi Suchak, said: “Africa’s expanding ICT sector presents the new US Administration with an unprecedented opportunity to strengthen US-African commercial ties.

Leveraging this opportunity

will require a comprehensive strategy for public and private investment, trade and development in Africa; and additional support to US companies doing business on the continent.”

The president, American Business Council, Dipo Faulkner, stated that Africa is a natural partner to the United States.

“Doing business has been very fruitful for those of us doing business in Africa, notwithstanding the challenges, but we believe forging strong bilateral ties would open up fresh opportunities for trade and investments for both countries,” Faulkner said.

Uppelink Gets ISO/ IEC Certifications for e-Payment Applications Nosa Alekhuogie A software development and e-payment firm, Upperlink, has been awarded the International Organization for Standardisation (ISO) and International Electrotechnical Commission (IEC) certification in recognition of its management system which complies with ISO/ IEC 27001:2013 (ISMS).

The Chief Executive Officer of Upper link, Mr. Segun Akano, in a statement confirmed the accreditation and explained that ‘e-payment applications and software development’ are part of the scope of activities covered by the certificate.

According to him, the organisation’s documentation and implementation had been reviewed by the ISO/IEC body and found to comply with the relevant standard rules.

Akano said: “Upperlink believes that adhering to the high standards of information security is a requirement in the e-payments market. We have invested substantially in that responsibility, an effort that has

now resulted in our company becoming ISO/IEC 27001:2013 (ISMS) certified, receiving accreditation for our e- payment applications and software development processes.”

The emphasis placed on data security has steadily risen as awareness and legal protections have grown in response to damaging data breaches in the past.

“By adopting this international standard, Upperlink has demonstrated its intention to meet the needs and expectations of our enterprise clients for whom data security is a foundational expectation,” Akano further noted.

ISO 27001 is recognised as the global standard for information security with over 100 requirements governing the creation and management of a robust ISMS. These requirements span physical protection, software development practices and systems architecture, and farranging operational processes including risk management and business continuity.

CELEBRATING BROADBAND SERVICE CHAMPIONS…

L-R: Head, Product Management, IpNX Retail Division, Najite Ikutegbe; Head, Customer Experience and Advocacy, IpNX, Christiana Okenla; Divisional CEO, IpNX, Kene Eneh; Chairman of BOICT, Ike Nnamani, at the presentation of Fibre Optic Service Broadband of the Year Awards to IpNX at the 12th BOICT Awards in Lagos...recently

TIME Announces Flutterwave on 2021 Influential Lists Nosa Alekhuogie Nigerian based Fintech Company; Flutterwave has been listed as one of the 2021 TIME100 Most Influential companies in the world.

According to TIME, the digital- payment service was selected as one of the companies shaping the future and making extraordinary impact around the world.

The firm was highlighted as being able to rapidly set up digital storefronts for thousands of businesses when the pandemic hit the world.

The firm was named a ‘Pioneer’ amongst other tech giants like Twitter and Apple.

The list, which was divided into five different categories namely, Pioneers, Leaders, Innovators, Disruptions and Titans, makes Flutterwave the only African company to make the list under the ‘Pioneer’ category.

The co- founder and CEO, Flutterwave, Olugbenga Agboola compares the infrastructure of digital transactions across nations and platforms (think credit cards, debit payments and digital wallets) to

plumbing.

“You don’t want to think about it, you just want it to work,” he said.

According to him, when the pandemic lockdowns hit brick-and-mortar businesses in Africa, they were able to recharge retailers across board, thereby throwing them a lifeline.

Agboola revealed he named the free campaign “keeping the lights on.”

Flutterwave hit tech-unicorn status in March when it secured $170 million in Series C funding from global investors, valuing the company at more

than $1 billion.

To assemble the list, TIME solicited nominations across various sectors including technology, entertainment , healthcare, industry experts as well as global network of editors and correspondents.

According to TIME, evaluation of each one was based on key factors, including relevance, impact, innovation, leadership, ambition and success.

“Together, these businesses and the leaders who steer them are helping to chart an essential path forward, ”he added.

UK Launch Scheme to Drive Glo Mega Data Plan Offers Trade with Nigeria, Boost Jobs Customers 1TB of Data

Emma Okonji

The UK Government has launched a consultation on new trading rules that will help countries like Nigeria grow their trade and build back better businesses and help British businesses and consumers at the same time.

The UK Developing Countries Trading Scheme (DCTS) is a major opportunity to grow free and fair trade with developing nations. The proposed scheme will apply to 70 qualifying countries, including Nigeria, and include improvements such as lower tariffs and simpler rules of origin requirements for countries exporting to the UK, allowing

countries to diversify their exports and grow their economies.

The UK currently operates a similar scheme rolled over from the EU, but as an independent trading nation we can now take a simpler, more generous, progrowth approach to trading with developing countries.

The UK Developing Countries Trading Scheme will apply to 47 countries in the Least Developed Country Framework (LDCF) and 23 additional countries classified by the World Bank as low-income and lower-middle-income countries.

The proposed new UK scheme will mean more opportunity and less bureaucracy for developing countries, for example by

simplifying rules of origin requirements or reducing tariffs on imports. For instance, this could mean lowering tariffs on products including rice from Pakistan and raw materials from Nigeria.

Analysing the scheme, Foreign Secretary Dominic Raab said: “Cutting tariffs for poorer countries enables them to trade their way to genuine independence – and I’m proud we lead the world in offering that opportunity.”

International Trade Secretary Liz Truss said: “Trade fundamentally empowers people and has done more than any single policy in history to lift millions of people around the world out of poverty.

Emma Okonji

To give heavy data users an unmatched experience on its network, Globacom is availing customers with 1TB of data under the Glo Mega Data Plan.

The Mega Data Plan, which has been delighting heavy data users on Glo network with different value-adding packages, has the irresistible N100,000 plan, which gives a total of 1TB of data valid for 12 months.

The company, which is renowned for innovation and competitive pricing, disclosed in a statement in Lagos that the plan would

be particularly useful for home broadband users, such as Small Office Home Office (SOHO) and Small and Medium Enterprise customers who have the need for higher data consumption.

“The Glo Mega Data Plan, particularly the N100,000 plan, is packaged to address the needs of heavy data subscribers for reliable and affordable internet service. it will help millions of people who rely on the internet to work or study from home, carry out most business and social transactions as well as hold meetings, seminars, religious worship, among other activities”, the state-

ment added.

Globacom which stated that the 1TB for N100,000 Plan offers the best value in the market, urged heavy data users to make utmost use of the opportunity to enjoy endless online experience.

Other plans available on the Glo Mega Data Plan include N30,000 which gives subscribers 225GB, with a validity of 30 days, N36,000 which offers 300 GB and also comes with 30 days’ validity, N50,000 plan which offers 425GB and 90 days’ validity, N60,000 which offers 525GB of data valid for 120 days and N75,000 which gives 675GB and has 120 days’ validity.

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Consumer Experience and the New Normal Raheem Akingbolu writes on how today’s businesses, buffeted by COVID 19-induced exigencies, are leveraging technology and creativity to drive experiential marketing and earn consumers’ loyalty

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efore digital implosion, perhaps the major connecting tool being used by experiential marketing agencies to create bond between brands and their targeted audiences, were words of mouth. But today, the goal post has been shifted by technology as stakeholders, agencies, brand owners and consumers now connect via digital and telephony.

As a result of competition and market saturation, consumers tend to prefer innovative brands that continue upgrading their offerings to meet their expectations.

In all aspects of the consumer journey, innovation has become so pivotal for brands to create a connection with their consumers.

Leading companies know that great products are necessary but not sufficient: In today’s world you have to deliver great consumer experiences in order to succeed. To create such unique consumer experiences, experiential marketing agencies have become veritable tools for brands desirous of delivering a unique brand experience to their customers.

As a focused approach towards involving the audiences in a way that they feel themselves as a part of the brand and are able to experience it, Experiential Marketing is not new but it has evolved overtime.

With Covid 19, most people at home, not attending events, gathering or pop up shops, across the globe, the experiential marketing industry has rapidly re-emerged to provide a buffer.

There is no doubt that Covid19 has created many challenges for practitioners across the globe, but emerging data signals that millennials are equally comfortable experiencing a brand virtually as compared to physically experiencing a brand.

Interestingly, a significant increase in digital media consumption and decrease in advertising expenditure has pushed the marketers towards exploring experiential marketing more than ever before.

Fashion brands started hosting musical performances; guided drawing sessions to create music playlists like #McQueenCreators for their social media followers and surprisingly, many of them, like Chanel, are doing this for the first time.

Coming on the heels of Covid-19 outbreak, the whole dynamic of consumer experience and engagement changed as government-introduced protocols and restrictions stifled the core essence of experiential marketing- creating experiences. Such protocols like wearing of face masks, social distancing dealt a huge blow on the experimental marketing industry and not a few agencies have had sad tales to tell from it.

According to Mckinsey and Company, consumer experience has taken on a new definition and dimension in the wake of the overwhelming challenge of Covid-19, driving experiential marketers to innovate during the crisis and anticipate how customers will change their habits while building stronger relationships with them.

Significantly, a visionary and consummate experiential marketing professional in Nigeria envisioned a ‘revolution’ in the experiential marketing ecosystem years before the outbreak of Covid-19, and built technology-driven platforms to create a seamless consumer experience and engagement, even at the comfort of their homes.

In 2020, the place of technology became more defined when the COVID-19 pandemic broke.

The pandemic greatly impacted the business world globally as marketing activities took a down turn because of restrictions imposed to curb the pandemic landscape. Notably, the experiential marketing industry has been the most hit of all the sub sectors of the integrated marketing communications (IMC) industry due to the ‘unfriendliness’ of the protocols adopted to curtail the pandemic.

A leading Nigerian experiential marketing practitioner and the founder of GDM Group, Victor Gbenga Afolabi, in a recent encounter with THISDAY spoke on the need for the experiential industry to adjust and re-think

Afolabi

“We have done a lot of movements. We have seen one of our colleagues become the substantive MD. We have successfully carried out succession and transition. These are critical milestones of an agency where key man risks are being taken out and you de-risk the business. We have been able to do that in the last 9 months. its operational model to adapt to the imperatives of the digital revolution on the consumer and the marketplace.

He said: “During the 2019 Brand conference, I made bold to say that the experiential industry was changing. It was really not a popular opinion then.

What I was speaking about was that we needed to look round and think. If the current consumer is no longer the way the consumer was when our mothers were there or the way I am now, the question is; how are these young generation going to be consumers? The present generation are predominantly digital natives. What kind of information are they exposed to?

What is their media consumption pattern?

Six months down the line, Covid-19 came and experiential agencies became flat”.

Commenting on how his agency was able to play in the ‘new normal’, the GDM boss noted that it leveraged technology which was already built into its operations prior to the outbreak of the pandemic.

“At GDM, we were already looking at technology, data, prior to the outbreak of the pandemic. Long before covid-19 came, we had started building technology competence. You don’t start building com-

petence when there is crisis. Today we are arguably the only experiential agency with a strong and robust marketing analytics department. We do a lot data collection, data processing, data interpretation. We also do a lot of hackathons”.

Speaking further on how the deployment of the new technology has improved the company’s operations, he said: “At GDM, we have been toying with different types of technology platforms and we have used technology to shape and better our operations. Quite significantly, we have also used technology to improve consumer engagement for our clients. We had the technology in place before Covid-19. What Covid only did was that what we were expecting to launch in 5 years, it put us under a lot of pressure to launch it in one year as consumers are now asking for engagements that are not physical” He added: “Because of Covid-19, there is social distancing and I need to create an experience around the brand. The only way the consumer can experience it from his/her home is for me to create the technology just like apps like TikTok and the likes are doing around content.

It is technology-driven. We have been

doing that and that is what has kept us to continue to push in creating experiences for customers on behalf of our clients”.

Succession has arguably been the greatest challenge of most successful agencies in Nigeria. In fact, very few agency owners in the entire IMC have been able to put in place a good succession plan in the event of the owner being unable to continue. Afolabi explained that the leading experiential agency has successfully initiated and completed a succession/transition process.

“We have done a lot of movements. We have seen one of our colleagues become the substantive MD. We have successfully carried out succession and transition. These are critical milestones of an agency where key man risks are being taken out and you de-risk the business. We have been able to do that in the last 9 months.

Continuing, he said: “It speaks to the testament of the strength of corporate governance we have institutionalized in the agency. We are happy about the work the people there are doing. We have had quite a number of young people being mentored.. We have become a factory for producing agency materials for other agencies to poach. We have also become a fertile ground for clients to recruit people from”.

On his projection for the agency in the competitive experiential marketing industry, the quintessential serial entrepreneur said:”We will continue to play a vital role in the ecosystem as we raise the bar and drive the perception of what experiential marketers and the value they bring to the table.

“I think as an agency and at least for the foreseeable future based on the innovation which become a core of our DNA, we see ourselves (GDM) leading the experiential agency segment of the advertising business”.

Speaking on the growth trajectory of the agency in the highly competitive experiential marketing industry, Afolabi noted that the agency has made significant progress and landmark in its twelve years of existence, creating experiences around brands across different sectors of the economy.

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Turning Prospects to Brand Loyalists in Conversions Marketing The ultimate goal for every digital marketer is “conversion”, a process that transforms leads, prospects or potential customers down the marketing funnel, into brand loyalists and advocates. Raheem Akingbolu tracks the process

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nversions happen when a site visitor or consumer carries out a desired “action,” as defined by the marketer or advertiser.

In other words, it is simply that trajectory that induces a consumer to respond to a call-to-action. It differs from simple brand awareness, which is typically in the form of a simple digital advertising display i.e. “impressions.”

As much as brands see benefits from awareness campaigns i.e. “impressions”, “conversions marketing” offers a lot more value than “awareness marketing”. It enables tracking, attribution and measurement, which is a critical element of today’s digital marketing and advertising. Also referred to as “performance marketing”, “conversions marketing” is essentially the return on investment of a Brand’s ad spend.

It offers marketers a number of benefits including measurement of actual campaign performance for necessary improvement, viability of Ad spend for necessary optimisation, total conversion costs necessary for future planning, the most (and least) effective customer engagement channels, the relevance of ads and channels based on consumer interaction, etc.

Google Ads defines a conversion as; “An action that is counted when somebody interacts with an ad (e.g. when they click a text ad or view a video ad), and then they take an action you have defined as valuable to your business, such as making an online purchase or a phone call to your business from their mobile phone”.

Conversions Marketing takes “awareness” a step further beyond “impressions’’ thereby allowing marketers to make the most out of their existing budget to engage consumers for lead generation, acquisition, retention or product cross selling and upselling.

According to a recent Gartner report, marketers are facing reduced budget al-

“It’s important to ensure you are eliminating waste by delivering an ad with the right message to the right user, at the right time and on the right device.”

location due to the Covid-19 disruption.

With reduced marketing budgets, getting the most mileage out of every allocated dollar is key, therefore conversions marketing is even more important as it enables measurement for spend optimisation and higher returns.

This strategy could mean different “actions’’ depending on the advertiser’s verticals and aim of the campaign. For instance, an FMCG company may simply want to send visitors to a page to sign up for a product newsletter or watch a product awareness video; a Bank may require completion of an account opening form, an SMB may want conclusion of a transaction while an Agency may want to increase app download for their Client (Brand). All of these instances point to a consumer going a step further than a view or a click on an advert.

A typical marketing funnel shows the customer journey from Awareness (where a lead or prospect is made aware of a brand or product) to Advocacy (where the prospect has become a loyal customer and starts to advocate for the brand). Taking the prospect from awareness, to consideration, purchase and then advocacy is only possible through “conversions” and “intelligent reach” which is the use of data to prequalify and target potential customers.

At a recent roundtable session organised by Terragon, on Data-Driven Marketing, a number of Industry practitioners gave their expert opinion on “conversions marketing” and the importance of Data in executing a high performing marketing strategy.

According to Luisa Mazinter, MMA SA Chair Emeritus & Chief Marketing Officer at Cubesquare Advisory, “Every marketer experiences a similar problem where you have to justify every single cent you spend, to the board or financial director or the CFO. Data is your friend and the more you gather, the more powerful you become and this can help justify your investment.”

The Digital and Data-Driven Marketing Manager at Nigeria Breweries (A Heineken Company), Francis Obiajulu talked about the various important KPIs which must be factored in measuring campaign performance; “In Marketing, we see more than just numbers. Talking about setting KPIs or benchmarks like brand health, top of mind awareness and other variables considered when referring to the outcome of our different strategies or campaigns.

Ultimately, this has to lead to sales.

With more data, you can detect how your “non-tangible” KPIs affect the tangible KPIs in terms of numbers.

Emphasising on the need to leverage data in marketing strategies for either “conversion” or “awareness”, General Manager of Programmatic, Search and Social, OMG MENA, Roli Okoro added.

Okoro noted: In this part of the world (MENA), we have gone beyond impressions and clicks.... It’s more down to know if my ad is viewable, did the user engage with that ad, how much time was spent on my site and a product detail page, partnerships they had with e-commerce companies, and so on.

On first party data being a critical element of an effective digital advertising strategy for high returns on investment, Okoro added: “It’s important to ensure you are eliminating waste by delivering an ad with the right message to the right user, at the right time and on the right device. As a brand, if you want to ensure that that media spend goes a long way or hits your KPIs, you need to look at the existing datasets you have, and how you are working with your First Party Data to understand your offline and online audiences.”

Business Director/Head, iProspect Nigeria, Damilola Abodunrin, has also admitted that data is important and that it’s important to know what data one is collecting because data by itself is pretty broad. “Data is multifaceted and when you have a clear understanding of the kind of data you need your objectives are better streamlined and you can work towards the answer in more efficient terms. ... If your product is not meeting the needs of people, your data will tell you right off the bat,” he stated.

The Terragon Data-Driven Marketing roundtable series is held every other month and is focused on promoting and advocating for Brands and Agencies to leverage the power of Data and Insights for more effective digital marketing strategies and campaigns. The next session is scheduled for August 2021.

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Addressing Unemployment in the Niger Delta Ugo Aliogo examines the efforts of PIND Foundation in tackling unemployment in the Niger Delta region

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f the bulging army of unemployed and underemployed youths in Nigeria were to be a country, it would be ranked the 16th most populous globally and the fourth in Africa.

A 4th quarter report of 2020 by the National Bureau of Statistics (NBS) put Nigeria’s youth unemployment/underemployment at 42.5 per cent. Taken from the United Nations Population Fund (UNFPA) data that put Nigeria’s population at 211.4 million, it means the number of unemployed/underemployed youths in the country stands at 89,845,300.9. (90m).

The country’s dependency ratio is 86 per cent of the population, going by a 2020 World Bank report. This implies that those groups of persons who are producing the goods and services for the country (15 – 64 years of age), consequently adding to the Gross Domestic Product (GDP), is below 20 per cent of the population. This calls for concern.

Furthermore, industry experts have posited that while thousands of graduates are churned out yearly from various tertiary institutions, there still exists a huge disconnect between the educational system and market-required skills. A lot of graduates have therefore become unemployable due to this disconnect.

Should this depressing trajectory be allowed to fester without appropriate interventions by the government and private sector, Nigeria can well bid goodbye to its days of glory and embrace gory tales as the new normal. Poverty, deteriorating socio-economic infrastructures, poor healthcare delivery, suicide, and insecurity issues will become the order of the day.

There is a need to stem the tide. All hands must therefore be on deck, to set the country in the right direction.

The age-long question then reappears - what can be done to solve the unemployment and underemployment quagmire the country is currently grappling with?

According to a definition by the NBS, a person is regarded as employed if he or she is engaged in the production of goods and services, thereby contributing to the GDP in a legitimate manner, which is a component of the national accounts and receives any form or amount of compensation for that activity.

On the other hand, underemployment occurs if a person works less than full-time hours, which is 40 hours, but work at least 20 hours on average a week and/or if he or she works full time, but are engaged in an activity that underutilizes his or her skills, time, and educational qualifications.

Tackling unemployment Nigeria is commonly referred to as the ‘Giant of Africa,’ but an overweight giant becomes a burden to itself. However, to help the giant lose some of its excess weight, there must be a systematic, routine, and segmented approach to achieve a holistic result.

In the same vein, Nigeria is made up of six geopolitical zones - the North Central (NC), North East (NE), North West (NW), South West (SW), South East (SE) and South-South (SS).

These are further broken down into 36 States, including the Federal Capital Territory (FCT).

Out of these states, nine form the Niger Delta region - the oil-rich states.

Ironically, some of the states in the Niger Delta, especially Abia, Akwa Ibom, Delta, Imo, and Rivers, have some of the worst employment indices in Nigeria.

To solve this challenge, in a pilot project, the Foundation for Partnership Initiatives in the Niger Delta (PIND), which was established

by Chevron Corporation, initiated the Niger Delta Youth Empowerment Pathways (NDYEP) project, with support from Ford Foundation, to actively target youths in three states in the region (Abia, Akwa Ibom and Rivers).

Its sole aim was to address identified systemic challenges in the youth employment ecosystem through the use of data for decision making, and matching skills supplied to the market demand and opportunities.

Hence, PIND conducted a labour market assessment in Akwa Ibom, Rivers, and Abia States to understand how the unemployment market functions, and to determine specific oc-

cupations and skillsets in-demand - technical and soft skills that are being supplied, and how they are being delivered.

Informed by labour market research findings, and through a process of co-creation with partners and market actors, the project in the pilot phase designed interventions with a focus on four priority sectors - construction, agriculture (Aquaculture), Information and Communication Technology (ICT)/Renewable Energy, and finished leather sector.

It developed multiple pathways. One pathway combines technical and soft skills development that will lead to formal waged employment. The second pathway is entrepreneurship which leads to selfemployment through the development of dynamic entrepreneurship skills.

The market survey and economic study for the implementation of the NDYEP programme began in late 2017, while implementation began in 2018.

People were selected based on need, age (between 16 to 39 years), and their interests in shoemaking, construction, ICT, and agriculture. This was also if they were unemployed.

PIND reached out to people using several online platforms such as Facebook, and Twitter; community-based organisations to reach people at the grassroots - villages, and churches; youth association networks and ministries of employment using a platform known as NDLink; and through influencers, with a vast number of followers. It also interfaced with different local governments in different areas.

Of the target to train 1,000 youths over 1,468 youths completed training on skills in ICT, aquaculture, and construction. 906 trainees in ICT, 271 trainees in Aquaculture, and 291 trainees in construction.

By providing competency training that matches skills to demand in the labour market, and by providing post-training business support, 233 trained youths have been placed on internships and apprenticeships, 251 in waged employment, and 207 graduates have successfully been supported to transition into entrepreneurship/self-employment.

The pilot will be used to develop evidencebased approaches to tackling the youth unemployment crisis in the Niger Delta.

According to the Executive Director of PIND, Dr. Dara Akala, “The main aim of the project is to develop model pathways for youth job readiness or workforce development that provides the marginalised youths, men and women in the Niger Delta region, the opportunities to secure sustainable jobs through intensive skills the development programme that equips them with market-relevant skills.

“This is a clarion call to the federal government, state government, local govern-

ment, and private companies, to rise to this challenge by creating multiple partnerships that will help us to equip the youths by providing them with technical skills, soft skills, and entrepreneurship. This will boost economic activities and economic production for the development of the Niger Delta region. We had deliberate targets - gender and people with disabilities.

“As a partnership initiative, we worked with and through partners across all our program areas. So we applied the same processes for partner selection to the NDYEP project. First and foremost, we were looking at private providers mainly, some market actors, because we had the issues of sustainability at the back of our minds when we were trying to select partners.”

The Deputy Executive Director of PIND, Tunji Idowu, added: “The rate of unemployment in the Niger Delta is even higher than the average rate for Nigeria. You don’t want to have an army of unemployed or underemployed youths that are not kept busy, and their energies are not channeled towards productive means.

“The approach is demand-driven, market-led, and it’s based on data. The training was competency-based. It was broad - not only technical training but also those soft skills that people often say become the success factors. Not only were they trained, but they were prepared for the marketplace.

“Anything that PIND does starts with research. When we were in the research phase, we discovered that there was a disconnect between the educational system and the market-required skills.

The selection was based on an initial assessment which has numeracy, literacy, and psychometric tests.”

According to Idowu, “The NDYEP had a target of 1,000 youths in the first year and 3,000 youths in the second year. In the first year, we trained over 1,600 youths, and in the second year, we trained 3,180 youths. So it was very impressive, and I can say we have met our target in terms of the number of participants.”

The Project Consultant ay NDYEP, Patrick Ekpe, said: “We had a target of 40 percent women, and at least 10 percent persons living with a disability. As at the end of the second year program, we had 37.5 percent women on the programme, and 5.5 percent persons living with disabilities.”

According to a government stakeholder, Nwachukwu Agomoh, “What PIND has done is to create what I call an enabling platform for the exchange of ideas, and that has principally driven what PIND has been able to achieve presently.”

Another government stakeholder, Erasmus Chukwumba, hinted: “This one

is more pronounced because it has to do with graduates, and we have seen that with this program, many people are being developed - their capacities are being developed, and their skills improved. So, when they finish the training, we are sure that they will get placement in our member companies.”

The Training Coordinator, E&I, Rivers State of PIND, Etuk Victor, noted: “Human capital development is key. This is the only way that youth restiveness can be curbed, if not eradicated.

“The goal is to get the trainees skillful enough to be awarded Nigerian Institute of Building (NIOB) certification, which is a certificate that can help them to get jobs, and also this certificate helps them to be self-reliant so that they can be self-employed.”

An NDYEP implementing partner, Emeka Unachukwu, stated: “With other projects, I have done, they stop at the training phase; some stop at giving palliatives, and then it ends. But this is one project that I have done that has shown me that you can pick up a youth from the street and make him a millionaire. It is possible. That is what NDYEP is all about.”

Project Manager of NDYEP, Emeka Ile, posited: “NDYEP basically looks at alternative ways to begin to address the challenge of youth unemployment in the Niger Delta.

“Having a young population in itself is not a bad thing because it is certainly a lot of energy that needs to be put in the right place. But the challenge right now is that the economy has had some times of significant growth, but that growth has not been accompanied with the relevant kind of job creation, or is not inclusive enough as a lot of people will say.”

Achievements They say it is a man’s world, but Uduak, a HND holder in Business Administration from a Private Polytechnic, would have none of that.

Breaking the limiting narratives that the place of a woman should be in the kitchen or “the other room,” the Akwa Ibom-born lady sought to build and boost her self-confidence by securing her financial future.

While battling to pay her rent, pay for her Post Graduate programme and also be able to afford “three square meals” without breaking a bank or losing her decency, Uduak got to know about the NDYEP training programme and settled for construction (woodwork).

Not an easy profession, even for men.

However, she has somehow been able to make it a success. She now has clients across the country. Uduak is not only financially independent, but she is also on the path to actualising her dream of establishing the biggest woodwork company in Nigeria.

“The first job I had was from my Facebook chat with someone who was constructing his house in Uyo. I did the kitchen cabinets, and the delivery was satisfactory. My jobs are basically from people I chat with online. I use Facebook, Google, and YouTube platforms to get my customers.

“My vision is to own a very big woodwork company in Nigeria, where we can interpret wood and send a rhythmic sound to people from wood. PIND has given me that mentality to think outside the box,” she said.

For Believe Amasi who hails from Eleme Local Government of Rivers state, having a form of disability and not being able to adequately meet the needs of his family, shattered his happy home.

“I have kids and a wife. I came to this programme through the ‘Daughters of Charity.’

I am the President of the disabled in Eleme Local Government.

“Due to my situation, my wife left me and left me with my kids. It was so difficult to feed and do so many other important things.

But God brought PIND my way. I am so happy to be a beneficiary of this wonderful training organised by PIND. We learnt how to hatch fish, prepare barbeque, rear fish.

Continued on page 31

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Firm Acquires Braintrace to Boost Adaptive Cybersecurity Ecosystem Emma Okonji Sophos, a global leader in next-generation cybersecurity, has acquired Braintrace, a development that will further enhancing Sophos’ Adaptive Cybersecurity Ecosystem with Braintrace’s proprietary Network Detection and Response (NDR) technology.

Braintrace’s NDR provides deep visibility into network traffic patterns, including encrypted traffic, without the need for Man-in-theMiddle (MitM) decryption.

Located in Salt Lake City, Utah, Braintrace launched in 2016 and is privately held.

As part of the acquisition,

Braintrace’s developers, data scientists and security analysts have joined Sophos’ global Managed Threat Response (MTR) and Rapid Response teams. Sophos’ MTR and Rapid Response services business has expanded rapidly, establishing Sophos as one of the largest and fastest-growing MDR providers in the world, with more than 5,000 active customers.

Braintrace’s NDR technology will support Sophos’ MTR and Rapid Response analysts and Extended Detection and Response (XDR) customers through integration into the Adaptive

Cybersecurity Ecosystem, which underpins all Sophos products and services.

The Braintrace technology will also serve as the launchpad to collect and forward third-party event data from firewalls, proxies, virtual private networks (VPNs), and other sources.

The additional layers of vis-

ibility and event ingestion will significantly improve threat detection, threat hunting and response to suspicious activity.

Chief Technology Officer at Sophos, Joe Levy, said: “You can’t protect what you don’t know is there, and businesses of all sizes often miscalculate their assets and attack surfaces, both on-premises and in the

cloud. Attackers take advantage of this, often going after weakly protected assets as a means of initial access. Defenders benefit from an ‘air traffic control system’ that sees all network activity, reveals unknown and unprotected assets, and exposes evasive malware more reliably than Intrusion Protection Systems (IPS),”

He added, “We are particularly excited that Braintrace built this technology specifically to provide better security outcomes to their Managed Detection and Response (MDR) customers. It’s hard to beat the effectiveness of solutions built by teams of skilled practitioners and developers to solve real world cybersecurity problems.”

Visa Re-introduces Brand with ‘Meet Visa’ Campaign Nosa Alekhuogie Global payments technology company, Visa, has unveiled the initial phase of its brand evolution, spotlighting the diverse capabilities of its network and commitment to enabling global economic inclusion.

Aligned closely with the company’s business strategy, the phase includes the debut of a dynamic global marketing campaign, ‘Meet Visa’, and a preview of a modernized look for Visa’s iconic brand.

In a statement, the company said the mission is to ensure that Visa is seen as more than a credit card company and understood as a trusted network that drives commerce forward while it continues to shape the physical and digital credit or debit card transaction.

Executive Vice President and Global Chief Marketing Officer, Visa, Lynne Biggar, said: “People think they ‘know’ Visa.

Consumers and businesses trust the power of those four letters and see it when they open their wallet, pay a vendor, walk into a store or check out online. What they don’t see is how those four letters operate the most dynamic network of people, partnerships and products.

“The new visa brand identity symbolises change. Visa has long stood for trust, security, acceptance and inclusion. These core values, in addition to the goal of enabling access for everyone to participate in the global economy, will be ex-

pressed through a modernised, dynamic visual brand identity, built in partnership with leading global brand design firm Mucho.”

According to the company, the ‘Meet Visa’ campaign shares an initial glimpse into the evolved visual brand identity launching later this year, featuring refreshed colors for digital impact, a custom font created for optimal digital experiences and an updated brand symbol designed to express the purpose behind the organisation.

Speaking further ,Biggar said: “Our business demands that the role of our company extends far beyond transactions. We are capturing the bold ambition of Visa with this brand evolution as a way to express what we stand for and what we strive for.

“With the world reopening and with money increasingly moving in new ways, there’s no better time to showcase the work we do and the impact a purpose-driven brand with Visa’s scale can have to enable individuals, businesses and economies to thrive.

“Over the course of 2021, Visa’s new brand identity will become visible in all 200+ countries and territories Visa operates in, cutting across the company’s primary business strategy,” she added.

Over the last five years alone, Visa has invested $9 billion in technology to shape the future of commerce, delivering a differentiated set of products, services and benefits.

AWARD OF EXCELLENCE…

L-R: Editor, TechEconomy.ng, Mr. Peter Oluka, with the President, Association of Telecommunication Companies of Nigeria (ATCON), Mr. Ikechukwu Nnamani, during the Titans of Tech Hall of Fame Award 2021, where TechEconomy.ng won an award in Lagos… recently

ipNX Gets Industry Recognition on Fiber Optic Broadband Service Nosa Alekhuogie ipNX, an Information and Communications Technology( ICT) company, has received the Fibre Optic Broadband Service of the Year award at the just concluded 2021 BoICT awards ceremony organised by Nigeria Communications Week, which held in Lagos recently.

The Beacon of ICT Awards, which began in 2009, celebrates and recognises the enormous contributions and achievements made by individuals and service

providers in the Nigerian ICT sector and seeks to reward excellence in the industry.

The Divisional Chief Executive Officer at ipNX, Retail, Kene Eneh, while receiving the award said: “Receiving this award is truly a great honor.

We thank the voting public and particularly our customers for their recognition of our flagship FOS Xtreme Series as the best broadband service of the year.

We also want to express our sincere appreciation to the Ministry of Communications

& Digital Economy as well as the Nigerian Communications Commission (NCC) for providing the enabling environment and frameworks for the ICT industry to flourish.”

She went further to state that the BoICT award “is a call for ipNX to continue to push the bar of service quality, excellence and customer satisfaction even higher. We are aware of the growing demands of our customers; particularly at this critical time in history where reliable

connectivity is a must-have for everyone, whether at home or at the office. We will continue to invest resources into expanding our capacity to deliver unrivaled innovative services on our Fiber Optic Network”. ipNX introduced its flagship FOS Xtreme Broadband series into the Nigerian market in 2020 with the launch of FOS Xtreme 100 and FOS Xtreme 200, which offer speeds of 100 megabits per second (Mbps) and 200Mbps respectively.

awesome and I have not lacked money. I can produce local and quality paints.”

Charles Offor, a 27 years old Bio-Chemistry graduate, and a beneficiary, remarked: “I got to know about the NDYEP programme from the internet.

I enrolled for Leather Works courtesy of Clintonel Innovation Centre. Before then, I did not know anything about shoemaking, though the interest was there.

“It was during the process of learning shoemaking that I got to know about the different types of leather in the market. We were exposed to a software design called ShoeMaster. In the Shoe-Master, we were taught how to use computer-aided design and graphics in designing various

types of shoes - male and female shoes.

“With the software, you don’t need to use your pencil to design or cut and draw your patterns. I have also been exposed to different segments, one of which is the customer segment. This has changed my thinking and strategy. It has also changed me financially too.

“It has given me that independence - to think and get money for myself. 10 years from now, I will have built a brand that will go global.”

Another beneficiary of the NDYEP programme, Chidi Stanley, who is 27 years old from Abia State, who studied Banking and Finance at Abia State Polytechnic, said: “I enrolled for construction

through the NDYEP training program. I have not been a welder before, but I registered at the Welding and Fabrication department. But through the PIND program, I was able to actualise that dream.

“Before my enrolment into the training, things were very difficult for me; no work, no white-collar job, even though I have been applying for jobs from one company to another, from one department to another.

“When I started, the work was too tough, but I was determined. With the learning that I acquired at Kiara De Luke Academy through PIND, I have established my own company and it is going well. I do not beg for money for bread anymore. I now stand on my own.”

ADDRESSING UNEMPLOYMENT IN THE NIGER DELTA All these have had a great impact on our lives.

“Through this training, I have my own barbeque stand as we speak. You have to start somewhere when you are expecting the bigger one.

I am proud of myself today.

Besides doing my barbeque business, I am also impacting what I have learnt to other people. The youths have seen that this programme is real, and many of them are ready to be impacted,” he said.

According to Chinagozi Daniel, an ICT implementing partner from Abia states, “45 of them (trainees) have become Facebook trainers on the Facebook Boost Your Business training, as trainers or as support trainers. As they were doing that, they were being

paid by Facebook. They were earning money even before they finished their classes.”

Israel Yusuf, an Aquaculture implementing partner in Akwa Ibom states affirmed: “Over 90 per cent of the people we are training are not going into paid employment but they are starting their own farms.”

Sylvia Chinwenda Nwito, an ICT trainee in Rivers state, espoused: “What has changed? Number one is job offers. Then, I begged them to get into companies because I didn’t have skills. Now I am actually getting job offers.”

Another beneficiary, Achunwa ThankGod, who is from Rivers state, said: “I have a Diploma in Law and B.Ed in Political Science. Almost about the end of my final year examination,

I went in search of a job, and I got one anyway, but the pay was so low. I had to consider other alternatives.

“That is what caught my interest in enrolling into this programme sponsored by PIND. Before we came for this programme, I thought the painting was something you can do ordinarily. Through the training, I have had a lot of experience that will help me in the delivery of my job as an interior and exterior decorator.

“It has really made me become one of the professionals in interior and exterior decorations.

In learning and applying what I have learnt, a lot has really changed; the way I work, the process and manner in which I deliver the work. Since I started this programme, it has been

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HEALTH & LIFESTYLE Saving Nigerian Youths from Addictions, Mental Health

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ Chiemelie Ezeobi ×ËÓÖ chiemelie.ezeobi@thisdaylive.com, Tel: 07010510430

Rebecca Ejifoma writes that one of the preventive measures against drug and substance addictions, as well as mental health disorder among youths, is robust parent and child interaction.

Corroborating, CEO and Medical Director of Hakron Specialist Care Centre in Lagos, Dr Akeem Akinloye, said mental health disorder is a medical condition that has snowballed into a public health concern, adding that family members play crucial roles in its treatment

M

ental health disorder is a medical condition that has snowballed into a public health concern.

Medical experts have said it has the potential of crippling a nation- society, families, loved ones and friends, as well as the addicts themselves.

Over time, studies have also backed up their anxieties about addiction and mental health disorder, which activates emotional, physical, psychological, and productive imbalance.

Sadly in 2018, the United Nations Office on Drugs and Crime (UNODC) reported that one in seven persons, aged 15 and 64 in Nigeria, had used a drug in the past year. The Global Burden of disease study in 2017 had it that globally 585,000 persons died from drug use.

Consequently, this has called for more concerns among psychiatrists like the CEO and Medical Director of Hakron Specialist Care Centre in Lagos, Dr Akeem Akinloye.

Defining Drug Addiction During a virtual interview with Akinloye, he described drug addiction as a situation where a psychoactive drug enslaves a person. “This person that is usually seen on the street as an addict can hardly do anything and complete it successfully because he or she uses all the time available to him to search for the drug he is addicted to.

“It is a complex phenomenon, as it has medical, social, and psychological implications on the individual affected; although the affectation on the family of the patient is mainly social and psychological. We consider drug addiction as a family disorder in our centre since causes, manifestation of the disease, and its treatment usually involves both the patient and close relatives that live with them.”

Signs of Drug Addiction As a psychiatrist, with about 17 years experience, Akinloye hinted at some signs of addiction to look out for. Among them are: change in behaviour, which comprises change in attitude, change in the activities of daily living, irritability, sneaking out of home at night.

He emphasised: “In these people, especially when the drug use is transforming to addiction (drug dependence), one begins to notice behaviours that suggest poor judgement.

Irritability is very common among them; little things that ordinarily should not result in anger, tip them off. Hence, that person starts looking his parents in the face, eyeball to eyeball when there is an argument on a trivial issue.

“They usually sneak out of the house early in the morning to seek drugs; they usually come to the house late at night. The key thing to note is that all their activities during the day when they are awake is progressively narrowing to drug seeking behaviour which is the reason they start failing in school, at work and any other endeavour that they engage in.”

Biological Causes Of Drug Use While outlining the causes of addiction, the medical director termed them as many and interwoven. He classified them as social, biological or psychological. “By social, I mean modelling – ‘my brother whom I admire so much for his maturity is doing so, I want to do too’. Biologically an important cause under this category is genetics, which implies that the use of psychoactive substances can run in the family. The causes could be psychological because some can use it to suppress some feelings like unhappiness, lack of confidence, feeling of inadequacy and the rest.”

Dr. Akeem Akinloye

Family members play crucial roles in the treatment of such mental disorders. In the first instance they usually initiate the treatment as the patient may neither know nor agree that there is a problem at all. The cooperation among themselves to annex support for the patient is very germane However, Akinloye noted that the most useful classification, especially in psychological treatment, is the one that groups these causes into predisposing causes, precipitating causes and perpetrating causes. The predisposing factor, which mostly arises due to genetic or poor interaction between the parents and the child, sets the child into abnormal feelings such as lack of confidence, inadequacy, and ambivalence.

According to the psychiatrist, it has been proposed that strong support and compact interaction between children and their parents allows encephalin (brain hormones) to bathe the brain of infants during the first two years of life and also during the other part of their lives.

Psychoactive Drugs Prescribed in Hospitals At this point, the expert expressed

worries about some addictive medications prescribed in hospitals in the country.

“This is where precipitants come in.

This could be a friend, an associate, a sibling who eventually introduces the addict to the drugs. A would-be addict could actually present his or her feelings problems to this person who then tells them to be using street drugs for coping.”

He, however, lamented the prescription of psychoactive drugs in hospitals. According to Akinloye, drugs like Benzodiazepines, Pentazocine, Tramadol, Rohypnol, and Diazepam among others used in the hospital can turn a predisposed person to an addict.

He advised that people can only take the medications on doctor’s prescription.

“Those drugs are on prescription. This means that a doctor must write on prescription before anyone takes it,” explaining further that doctors know the dose at which they are safe to evade addictions.

Effects of Addiction Once addicted, the expert said there would be disruption of family life, failure here and there, inability to progress in any endeavour which makes it impossible for the patient to face life and focus, whenever they are sober, they are not happy, so they need to get back to their intoxication state.

“These factors in addition to withdrawal symptoms make the drugs use a vicious cycle to continue,” he cautioned.

Explaining to THISDAY factors that trigger addictions today, Akinloye acknowledged that the human brain is growing in volume, creating more and more complex pathways.

He suggested that the only way this can be measured more accurately is the speed at which the world is transforming. “More knowledge and information are pouring out; youth are the ones bringing innovation and no one wants to stay out of competition. The time and energy available during the day are no more enough for the curiosity life is presenting.”

Reasons for Drug Use He, however, blamed misinformation, early marriages, inter-ethnic annexation and admixture, nationalisation as well as globalisartion are more or less in the mid stage as other contributing factors.

All these, the expert bemoaned, have made family ethos, and cultural values wane. “Support systems are going down too.

“Negative emotions like disappointment, sadness, lack of confidence, and losses among others are abound everywhere creating predisposition for drug use,” And, he chipped in, I think we must know that youthful brains, especially those from 16 to

T H I S D AY ˾ , JULY 29, 2021

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NEWS 24 are highly flexible. This makes it very easy for psychoactive drugs to reshape and create new pathways in their cerebrum, which leads to continued usage.”

Commonly abused drugs/substances Some of the commonly used substances and drugs responsible for these addictions are: Cannabis (weeds, Indian hemps), “Loud”, “Arizona” which is known as a stimulant at a higher dose, Amphetamine Cocaine too is a stimulant.

“But when they say depressant (the calmers) - opposite effect as stimulants; we talk of Opiate like Heroin, Codeine, Morpine, Folatile liquid like - remember that they can also be used in combination for example “Monkey tail” which is combination of Alcohol and cannabis. Alcohol itself is a psychoactive substance although not classified as drugs,” he explained.

Addiction in Females Difficult To Treat With more female addicts being admitted at psychiatric facilities in the country, the MD disclosed that while males are more prone to addiction than females, addiction in females tends to be worse and far more difficult to treat.

Statistics of Addicts On how frequent addicts are brought in, the doctor mourned, “Regularly, and on a daily basis, although not all of them are financially buoyant to stay and complete their rehabilitation programme.”

Worse Cases Akinloye, whose facility at 24 Oyetola, Mafoluku at Oshodi is known for rehabilitating and enlightening addicts, described some cases as worse. He recalled, “One case that comes to mind is a young man who is a citizen of both Nigeria and the United States but resides in the state with his wife and two kids. This young man who is a retired marine soldier in America ran away to Lagos after he was admitted about three times in the US. He refused to stop using Cocaine. Three major public rehab centres in Lagos managed him before our facility, Hakron, was contacted.”

This particular patient, he continued, was consecutively readmitted in our facility five times before he was finally able to achieve sobriety. “I meant five times of admission,” he emphasised “When a reasonable number of the family members gave their support and completely cooperated with our therapists. This is completely unusual in our centre where results used to happen.”

Legally Forcing Addicts for Treatment Speaking further, Akinloye said the decision of family members always depends on whether the addiction is complicated with psychosis and poor judgement and lack of insight or not. “An addict with any of the three listed above may not be able to have capacity to make a reasonable decision about their healthcare. More so, they may be a threat to their own life or to others around them.

“This kind of a patient will need to be legally coerced for treatment until he is capable of making decisions for his care when he is no longer a threat to the society. His decision for treatment is reviewed whether he wants to continue in rehabilitation or not. However, in an addiction case without complication as I mentioned above, the mental health bills which are yet to be passed into law in Nigeria does not allow anybody to force such a person into treatment.”

How Family Members Can Support Family members play crucial roles in the treatment of such mental disorders. “In the first instance they usually initiate the treatment as the patient may neither know nor agree that there is a problem at all. The cooperation among themselves to annex support for the patient is very germane.

They also need to work with the therapist in order for them to know the psychological needs of their ward. They also play the role of financing the treatment which is very very costly.

“They supervise the patient’s medication after being discharged, they must make sure that recovery is for life and that relapse (going back to illness or drugs is very common), they have

a lot of roles to play. Even their own individual emotional feelings affect the patient’s stability and vice versa. “

Actualising a Drug-free Nation For Akinloye, everyone who wishes to make Nigeria a drug-free country has to join politics. “If that is done, the National Drug and Law Enforcement Agency (NDLEA) capacity will be raised, mental health bills will be passed, and the attempt at pushing for legalisation of cannabis will be thwarted.

Without this, achieving a drug free society in Nigeria is more or less a mirage.”

FERTILITY

Info@lifelinkfertility.com; Website: lifelinkfertility.com 08033083580

Repeated IVF/ Implantation Failure (RIF) Part 2

Improving Understanding of the World Drug Problem According to the Hakron medical expert, rapid globalisation and nationalisation is the answer, especially in terms of creating more professionals in drug addiction treatment and prevention. “This shall help in terms of further research in this area.

“The US has already started. They began with a gentle approach to train everyone that has interest in becoming Addiction Professional all over the world in their Colombo Plan Drug Advisory Programme (DAP). They have a model for prevention and treatment; the centre for Universal Treatment training is Yaba Neuropsychiatric Hospital while Global Initiative on Substance Abuse (GISA) is the body handling prevention training in Nigeria.”

He outlined that people are already going for the training, a part-time programme for everyone to have an idea about drug addiction. “I think in the near future these programmes shall help everybody to make informed decisions about drug problems. However, it seems currently drug barons are winning the race. That is why you hear ‘It is being legalised here and there’.”

He further lamented that these drug traffickers are in high places, “Controlling politics! Once the knowledge spreads, research grows, the impact of the drugs on governance, health and security problems shall be reduced, if not totally exterminated”.

Strengthening NDLEA Not satisfied with the level of performances from concerned agencies, Akinloye tasked the Nigerian government to strengthen the NDLEA in both supply and demand reduction sections. He added that the law needs to be very clear and enforced while noting that passage of Mental Health Bills which has been lingering for years is also important.

He suggested further, “More and standard drug rehabilitation centres like Hakron Specialist Care Centre that are devoid of stigma and have well articulated programmes are very essential. Good policies in the area of governance that will support good family lives. We need to do a lot in the area of our social welfare as a country. Our school curriculums need to contain subjects that educate on psychoactive substances (Drug of Abuse) from primary to tertiary institutions. This will alter the attitude to drugs in this country.”

Solution for Addict is Rehabilitation not Arrest “I don’t think arrest is the solution for drug sellers. However, for the supply reduction among traffickers, arrest can be the starting point”, pointing out he said, “But how many of them really get prosecuted at the end of the day? But for the users or the addicts, the only solution is rehabilitation because these people are chronically sick; the stage of wrong-right cannot hold again. There is no punishment that can bring them back.”

Dedication to Rehab, Therapy Founded about five years ago, Hakron is a mental health private hospital and rehabilitation home at Mafoluku just close to Murtala Muhammed International Airport. “Since it got off the ground, the rehabilitation centre has taken care of more than 200 clients’ families.

When I say family I’m referring to the patients and their family members,” he stated. He boldly maintained that the results have been wonderful; “as we used to tell the families that contacted us; it always depends on how much the family wants it; their readiness and ability to work with our therapists. Our mode of treatment is medical. We use pharmacotherapy, psychotherapy and social therapy in our inpatients, out patients as well as day care depending on what is suitable for the patient after comprehensive assessment. In terms of results, we are number one”.

R

epeated Implantation Failure(RIF) as discussed last week is an important cause of repeated IVF failure. It is a distressing condition for patients and very challenging one for clinicians, it is therefore essential to understand underlying factors and possible management. This week, we will be concluding with the Embryonic factors affecting pregnancy and male contribution to RIF. The Endometrium: The endometrium is the inner lining of the womb where embryos implant hence a functioning and receptive endometrium is crucial for embryo implantation. During the menstrual cycle, the endometrium undergoes both morphologic and biologic changes that prepares it for interaction with the embryo, and ultimately for successful implantation. Once all biological changes transpire, the embryos can attach, invade the endometrium and finally implant.

The crucial stage last for a few days and is referred to as the ‘’ the window of implantation’’.

In this stage, the endometrium must proliferate, increase in thickness and then after ovulation, adequately respond to progesterone and become receptive. Ultrasound examination of the thickness and appearance of the endometrium is an easily performed means of assessing morphological changes occurring in the endometrium during the follicular phase, and thus used as a measure to predict successful implantation. Indeed, several studies have reported a strong association between endometrial thickness and successful implantation. Implantation has been achieved in women with endometrial thickness of 6-8mm.

Thin and unresponsive endometrium may result following previous surgical intervention within the uterine cavity.

Management of thin endometrium has been achieved using high dose Estradiol or vaginal Estradiol, this is meant to increase the blood level of Estradiol. Other medications include the use of Aspirin and sildenafil tablet intended to increase blood flow to the endometrium.

Embryonic Factors.

The second player in the equation of successful implantation is the embryo. Implantation is in fact not an efficient process, as the natural conception rate within timed intercourse in otherwise healthy young couples is only about 25%. Inadequate receptivity, as discussed earlier is responsible for approximately two-thirds of implantation failures, whereas the embryos itself is responsible for only one-third of these failures. These Embryonic factors may include: Abnormal Karyotype: Abnormal karyotype of the embryos is one of the major reasons for failure in implantation and miscarriage. Both male and female partner may produce aneuploidy (abnormal chromosome) gametes, thus two-third of the generated embryos may be abnormal, fail to implant or be aborted after implanting.

Couple with RIF should be encouraged to do a karyotype (test done to look at the number and appearance of chromosomes in the nucleus of the cell). Couple found with abnormalities should be offered preimplantation Genetic Testing (PGT).

Zona Pellucida: The zona pellucida is the outer wall/covering of the female egg, the fertilized egg undergoes growth and development until it gets to the blastocyst level where it is ready to hatch through the zona pellucida. This is an essential step preceding implantation. Hatching involves both chemical and mechanical processes which eventually lead to the thinning of the zona pellucida as well as its rupture and blastocyst hatching. Abnormalities of the hatching process may contribute to failed implantation in an IVF attempt. The laser assisted hatching may be clinically useful in women above 38 years with RIF. Embryo Culture and Transfer: The definition of RIF refers to the transfer of good quality embryos that do not result in implantation. Embryo quality is assessed by morphological criteria, under the assumption that the embryo although transferred on either day 2 or 3 after fertilization, would continue to develop in uterus and fail to progress into blastocyst stage. This may be due to either suboptimal local condition or intrinsic factors. Several approaches have been suggested for overcoming these obstacle, and they include Zygote Intra Fallopian Transfer (ZIFT) which is the process of transferring the day 2-3 embryos directly to the fallopian tube where it continues development. This process is more related to the natural development of embryos in the body and has been found to be very effective in improving the success rate of IVF among women with RIF. Blastocyst Transfer: A blastocyst is an embryo that has been cultured to develop in the incubator for at least 5 days. The success rate of blastocyst transfer is higher than day 2-3 embryo transfer.

Culturing embryos to blastocyst stage will serve two goals. First of all, it enables better selection of embryos for transfer, secondly blastocyst is the normal stage embryos get to before implanting within the endometrium, hence we actually mimic nature when we transfer a blastocyst into the endometrium rather than a day2-3. The chance of achieving the ‘’window of implantation’’ is high too. Hence in women with RIF the transfer of blastocyst has been of immense benefit as it has been proven to have better implantation rate as well as live birth.

Male Contribution to Embryo Competence for Implantation Several researches have been proven that low sperm quality can decrease the success of IVF due to abnormalities in the sperm and DNA fragmentation. Researchers also report that the performance of sperm cells with poor morphology is low and also associated with high level of DNA fragmentation. This results in poor fertilization and implantation rate. The use of IMSI (Intracytoplasmic morphologically selected sperm injection) can help to detect DNA fragmentation. IMSI selected sperm cells have been associated with high implantation and live birth rate.

Conclusion The dilemma of repeated implantation failure can be overwhelming; it is important to talk to your fertility specialist so that together you can overcome this challenge

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NEWS

IMG 1 (L-R): Guest, Mr. Boye Oyewumi; President Board of Trustees Parah Family Foundation, Mrs. Adejumoke Airuoyo; First Lady Ogun State, Mrs. Bamidele Abiodun; Vice President Board of Trustees Parah Family Foundation, Princess Dayo Odukoya; and board member, Mrs. Isioma Olugbenga, at the third edition of Parah Fertility Conference recently held in Lagos

Nigeria Loses $6 Billion to Food Contamination, Says FG Onyebuchi Ezigbo ÓØ ÌßÔË The federal government has put the cost-of-illness of diarrhoea, attributable to food contamination, at about US$6 billion annually in productivity.

It said that the cost was calculated at about US$10 per case of diarrhoea. Minister of Health, Dr. Osagie Ehanire who stated this during the launching of the training manual on National Policy on Food Safety

& Its Implementation Strategy (NPFSIS), in Abuja on Tuesday said 31 hazard-causing foodborne diseases were responsible for over 600 million illnesses and 420,000 deaths worldwide.

He said: “In 2014, the World Bank’s “Safe Food Imperative” found that the cost-of-illness of diarrhoea, attributable to food contamination, is about US$10 per case, with Nigeria estimated to lose about US$6 billion annually in productivity

which underscores why the health sector prioritises safety of foods sold, marketed, and consumed in Nigeria”.

Ehanire said in line with the United Nations Resolution on strengthening food safety, the Ministry of Health takes food safety, as a serious element of public health that requires concerted efforts.

According to the minister, the National Agency for Food and Drug Administration and

Control (NAFDAC) and the Nigerian Centre for Disease Control (NCDC) are among agencies and parastatals in the health sector, with the mandate to target reducing the burden of foodborne diseases.

He however said the health sector cannot do it alone; “ rather, food safety issues should be handled with a one-health approach, where collaboration with the agriculture and environment

sectors are essential, to ensure we only consume safe and wholesome foods”..

The development of the Unified Training Manuals focused on the need for the micro, small and medium food processes to be trained on food safety management systems.

The categories of food handlers targeted for these trainings are: Farmers; Food Processors; food service

providers; Food regulators; and transporters, wholesalers, retailers and exporters of food & feed produce. According to the Ministry of Health, the main objective is to build an effective food safety system in a bid to improve and maintain appropriate food safety practices that are in line with international best practices through human capacity development in Food Safety system along the food supply chain.

Nigeria Has One Doctor to 40,000 Patients, Says Senator Tejuoso ˾ ÜÙÚÙÝÏÝ Üß ÙÍ ÓÜÞßËÖ ÖÓØÓÍ ÞÙ ÌÜÓÎÑÏ ÑËÚ Sunday Ehigiator The former Chairman, Senate Committee on Health, Senator Lanre Tejuoso, has revealed that Nigeria unfortunately has one doctor to 40,000 patients as against the one to 400 doctorpatient ratio recommended by the World Health Organisation (WHO).

Speaking with THISDAY recently, he said the huge gap has hampered accessibility to medical services in the country, hence increasing mortality and morbidity; a situation that puts the country’s global healthcare rating at a poor state.

He said: “To address this,

we must look for innovations that can distrupt the status quo. The recently established TruDoc 24x7 Virtual Clinic is one innovation that has the capacity to tackle shortage of doctors in Nigeria.

“Apart from accessibility to Nigerian doctors, the virtual clinic can provide patients with the opportunity to have specialist care and direct accessibilty to specialists around the world.

“I welcome the virtual clinic for Nigerian market because of the increased reach for patients to have access to medical doctors all over the world, and not just Nigeria.”

Speaking on some of the

challenges in the Nigeria health sector and how the innovation can address it, he said, “Nigeria is a country with about 200 million people, and of course, you must know the density of patients to doctors which the WHO has already prescribed the minimum expectation as one doctor to about 400 or 600 patients.

“However in Nigeria, we have a doctor to about 40,000 patients. Most of our doctors; very educated and skillful, are operating in the United States and United Kingdom, as well as in Dubai. So Nigeria is left with virtually few doctors.”

He said the virtual clinic was

a real innovation needed for Nigeria in particular, adding that with this, we can have our doctors back in Nigeria virtually and the patients can have access to specialists in all fields in the country.

On its accessibility, Tejuoso, who also recently launched the ‘President Muhammadu Buhari International Conference Centre and Telemedicine Hall’ at the Federal Medical Center, Abeokuta as one of his constituency projects, said, “The virtual clinic will be positioned in various medical centers in Nigeria.”

“Any Nigerian patient can walk into the clinic and

immediately be connected to a specialist anywhere in the world. It could be in the capital city, it could be in Dubai, UK, etc. The advantages are enormous in terms of the reach of the patient to special doctors.

“Nigeria is divided into about 774 local governments, and this is a well spaced location that will ensure proper organised access for all Nigerians, in addition to that, we have about 10,000 poling units which have been created for the purpose of elections,” he added. Speaking on the sustainability of the innovation as driven by partners, he said, “Our most important partner is

the telecommunication company that will provide the bandwidths, which will ensure proper internet services, because most of the communications will be via video call, so we need very perfect bandwidths for that.

“Of course we need the corporation of the association of medical doctors in Nigeria and indeed internationally that will be ready to receive the calls of patients whenever they are appointed.

“Again, we will need a very favourable business environment for investors to ensure that they are able to actually gain their investment back,” he said.

25 Doctors Mobilised for Free Healthcare Services to Rural Dwellers in Isuochi Emmanuel Ugwu-Nwogo ÓØ ×ßËÒÓË No fewer than 25 medical doctors have been mobilised to offer free healthcare services to rural dwellers in Isuikwuato/Umunneochi federal constituency as the 14th edition of Hon Nkiruka Onyejeocha Annual Medical Outreach kicked off at Isuochi.

The physicians and other health professionals that make up the formidable medical team headed by Dr Humble Evuchaiwe, were actively engaged in attending

to huge crowd of sick persons that thronged the Madam Suzana Mba Health Centre along Amuda - Umuaku Road, Isuochi.

Deputy Chief Whip of the House of Representatives, Hon Nkiruka Onyejeocha, who represents Isuikwuato/ Umunneochi federal constituency, told journalists that over 1,000 persons would receive treatment in the week-long medical outreach, while provisions had been made for 50 surgeries.

She said that “it’s safer and cheaper” to nip sickness in the bud if the primary health-

care system is strengthened to serve the health needs of the rural dwellers.

The federal lawmaker noted that so many people in the rural areas lose their lives to curable ailments due to dire economic conditions that make it impossible for many families to afford paying for even N500 drugs, much more undergoing surgery.

According to her, it has become common for people to carry hernia for years because they could not afford the cost of surgery hence hernia and goitre surgeries were included in the free

medical outreach.

She acknowledged that access to quality healthcare “is very tough considering the state of the economy” hence her determination to sustain the annual free medical outreach, which has over the years brought succour to so many people.

“Health is wealth. Even if you have the whole money and you are not healthy, you have nothing. If you are working and you are not well, you cannot be effective,” Onyejeocha said.

The third term Rep stated that her free medical outreach

was not restricted to her constituents as anybody that has the means of getting to the venue of the programme automatically receives treatment irrespective of the patient’s place of origin.

Mrs. Nneka Friday, who brought her six year old son, Uchenna all the way from Owerri, Imo State, for hernia surgery, profusely thanked Hon Onyejeocha for the opportunity “to save my son”.

“It’s not every well-to-do person that can do what she is doing to help the poor,” Mrs. Friday said, adding, “God will reward her for us”.

The traditional ruler of Obindu Ngolo Isuochi autonomous community, HRM Eze Luke Uche expressed his happiness to have come and witnessed the huge crowd receiving healthcare services courtesy of Hon Onyejeocha.

He told THISDAY that “the most gratifying aspect is that everything is free”, adding that Onyejeocha “has demonstrated great passion” for the well being of the people she represents not only by attending to their health needs but also education and human capital development.

35

T H I S D AY ˾ , JULY 29, 2021

FEATURES

Succor for Injured Officers, Soldiers To mark the recent Eid El Kabir celebration, the 81 Division of the Nigerian Army visited injured and sick officers, as well as soldiers at the 68 Nigerian Army Reference Hospital, Yaba, Lagos. Chiemelie Ezeobi reports that for the officers and soldiers who were injured in the course of service to the nation, it was a balm to their souls and a boost to their morale

F

or injured and sick officers and soldiers at the 68 Nigerian Army Reference Hospital Yaba (NARHY), Lagos, the visit of the General Officer Commanding (GOC), 81 Division Nigerian Army, Major General Lawrence Fejokwu along with commanders and Principal Staff Officers (PSOs) of the division was a balm to their souls and a boost to their morale.

The officers and soldiers were either injured or fell sick in their respective units during the course of their service to the nation. Away from their families and within the grounds of the hospital, the visit assured them that they were truly not forgotten by the army.

This was achieved by a special luncheon organised by the GOC to honour the sick officers and soldiers to mark the 2021 Eid -el-Kabir Celebration.

The GOC, while conveying the goodwill message of the Chief of Army Staff (COAS), Lieutenant General Faruk Yahaya, to the officers and soldiers noted that the COAS has provided logistics within available resources to eat and dine with the personnel of the division who got injured or fell sick in the spirit of Sallah celebration to boost their morale.

Major General Fejokwu assured the injured officers and soldiers that the Army authority is doing everything to facilitate their treatment to ensure that they get back to their feet as soon as possible. He further commended the sacrifices of the personnel in the ongoing operations across the country, adding that their sacrifices will not be in vain.

The GOC was later conducted round the various wards to see those on admission and to ascertain the progress of their recuperation.

In an interview afterwards, the Chief Medical Director, 68 NARHY Colonel SO Solomon, said it was a special day as it showed the army has the patients at heart.

On the process of rehabilitation, he said: “Sometimes, patients are brought in given that it’s a tertiary hospital as injuries that cannot be treated at the primary level are brought in here. Those who have injuries

GOC 81 Division, Major General Lawrence Fejokwu talking with the injured and sick officers and soldiers, while the Chief Medical Director, 68 NARHY, Colonel SO Solomon and other senior officers look on

He assured the injured officers and soldiers that the Army authority is doing everything to facilitate their treatment to ensure that they get back to their feet as soon as possible. He further commended the sacrifices of the personnel in the ongoing operations across the country, adding that their sacrifices will not be in vain within and outside the country are brought here if it’s something that can be handled here.

“If there is need for a specialist, we invite them here. Also, there is

an insurance policy where they can actually be taken abroad for treatment if need be. We also have physiotherapists to treat them.”

For those that have lost limbs and

arms, he said arrangements are being made, adding that “the GOC just approved prothesis for one of the soldiers that has a lower limb amputation”.

The representative of the sick officers and soldiers, Major Bitrus Daniel, while delivering the vote of thanks, expressed gratitude to the Army authority, particularly the GOC for finding time to celebrate with them despite his busy schedules, adding that the day was indeed a memorable one for them all.

The GOC was accompanied by the Commander 81 Division Ordnance Services, Brigadier General U Aja; Commander, 81 Div Provost, Colonel AC Chukwuma; Commander, 81 Division Military Intelligence Brigade, Colonel AA Babatunde; and the Deputy Chief of Staff Administration, Headquarters 81 Division, Colonel C Ogbuabo.

ÌTÌJÚ Movie Demystifies Dyslexia Yinka Olatunbosun ÌTÌJÚ, a movie with the rider “hope heals” is an inspiring movie of hope renewed. A product of a unique and exciting collaboration between MINDS Reform Initiative and Lagos State Ministry of Education, the movie project is at the heart of Special Needs Education in Nigeria.

It demystifies the condition known as dyslexia with the aim of removing the stigma that has long been associated with it. The movie title, ÌTÌJÚ is a Yoruba word which roughly translates to mean a feeling of shame.

The suffocating culture of stigmatisation discourages people from speaking up about their personal challenges and how will one find solutions.

Dyslexia is a learning disorder which makes reading and writing herculean tasks.

Described by educationists as “the silent destroyer,’’ it is said to be responsible for the high rate of school dropouts and the increasing number of juvenile crimes in the society.

While reflecting on the movie project, the Lagos State Commissioner of Education, Mrs. Sade Adefisayo said, “I am excited about this project which highlights such an important issue that has largely remained under the radar. “ We look forward to exploring this relationship further - during and beyond

L-R: Oladapo Akande, promoter of MINDS Reform Initiative; Mrs Sade Adefisayo, Lagos State Commissioner of Education; and Roy Osuji CEO of Alvary Studios

this project as the ministry appreciates the contribution it will certainly make towards the development of Special Needs Education in Lagos State”.

Interestingly, the disorder does not affect the sufferer’s intellect in its entirety, as dyslexics are famed for their creativity and problem-solving abilities.

However, lack of awareness in our society has led to dyslexics being labelled

as dull. Rejection by parents and the resultant low self-esteem have also been identified as major causes of related mental health issues.

These manifest in different ways: depression, drug and alcohol abuse, bipolar disorder with an alarming increase in suicide rates. It is estimated to affect 10per cent - 15 per cent of the Nigerian population. According to Ben

Arikpo of Dyslexia Foundation (Nigeria), dyslexia is a massive problem “hidden from plain sight”.

Reportedly, 90 per cent of teachers in Nigeria have never heard of dyslexia. Sir Richard Branson (Virgin Atlantic), Will Smith (Hollywood A list actor), Thomas Edison (inventor of the light bulb) and Lewis Hamilton (Formula One champion) are some of the famous people who live with this condition.

Oladapo Akande, the Founder, MINDS Reform Initiative said: “Though not dyslexic myself, I was privileged to witness firsthand, during my primary and secondary school days in the United Kingdom, how early diagnosis and timely intervention helped salvage the destiny and restored meaning to the lives of some of my dyslexic classmates- who having received the attention at the right time, went on to succeed in their chosen profession.’’

The movie is the brainchild of Akande who is a two-time author and writer of the popular weekly newspaper column, Character matters with Daps. His partner and fellow producer on the project, Roy Osuji of Alvary Studios and Alvary Creatives, is the producer of the early 2020 movie, ‘Handicapped’- a gripping story that highlights the scourge of human trafficking.

According to Osuji, “ÌTÌJÚ is our gift to the world during these crazy times where mental health is a big deal.

36

T H I S D AY ˾ Ͱͷ˜ 2021

BUSINESS/MONEYGUIDE

FCMB Group Reports 22.1% Drop in Profit Darasimi Adebisi Amid decline in impairment losses on financial instruments and hike in total operating expenses, FCMB Group Plc has reported 22.1 per cent Year-on-Year (YoY) drop in profit after tax as reported in its half year (H1) ended June 30, 2021 result and accounts.

The holding financial institution on the Nigerian Exchange Limited (NGX) on Wednesday reported N7.56billion profit in H1 2021 from N9.7billion reported in H1 2020.

The group also reported 19.5 per cent drop in its profit before tax to N8.9billion in H1 2021 from N11.07billion reported in H1 2020.

From the Group financial statement, Operating expenses rose by nine per cent YoY to N47.95 billion in H1 2021 from N44.05, largely due to increased

Asset Management Corporation (AMCON) and NDIC (Nigeria Deposit Insurance Corporation) costs.

On the flip side, net impairment loss on financial assets decreased by 48 per cent YoY performance to N4 billion in the period under review from N7.7 billion for the same period prior year.

Other financial parameters revealed that FCMB Group gross revenue closed H1 2021 at N94.2 billion four per cent increase over N98.2 billion reported in H1 2020.

The group reported an increase in cost of funds, led to a five year on year drop in net interest income from N45.4 billion for H1 2020, to N43billion for H1 2021.

The group in a statement said, “Non-interest income of N17.9 billion, for the six months ended June 2021, rose

two per cent YoY from N17.5 billion for the same period prior year. Fees and Commissions income increased 33.5per cent YoY, as a result of an increase in customers’ transacting activities.

“However, this increase was muted by an 32.8per cent YoY drop in trading income, caused by lower volumes of fixed income instrument trades during the quarter. There was also a non-recurrence, in H1 2021, of the level of FX revaluation income seen in H12020.”

Financial position of FCMB Group showed loans and advances increase of 15 per cent YoY to N916.7 billion as at June 30, 2021 from N822.77billion reported in full year ended December 31, 2020 .

In addition, the Total assets increased by 14 per cent YoY to N2.24 trillion as at June 30, 2021 from N2.06trillion reported in 2020 financial year.

Wema Bank Establishes Business School to Equip SMEs In demonstrated of its commitment to the growth and development of Small and Medium Enterprises (SMEs) in Nigeria, WEMA Bank Plc has established an SME Business School in Lagos.

The bank said yesterday at the launch of the business incubation institution at its corporate headquarters in Lagos that the school would equip SMEs with the basic management knowledge required to effectively run their businesses and respond to challenges in a demanding business environment. Speaking at the launch, the Divisional Head, Retail Banking, WEMA Bank, Mr. Dotun Ifebogun said the curriculum of the business school was designed to close the knowledge gap that plagues

most SMEs in the country, resulting to poor business structure and management.

Ifebogun, disclosed that the bank has support from the Frankfurt School of Finance and Management, Germany, for the school, with top-notch consultants from within and outside Nigeria as facilitators.

Ifebogun said: “it is a free programme that will hold twice a year across different regions in the country, starting with Lagos, with online and in-class sessions. The in-class session will run for five days and we aim to educate and support 3,000 SMEs in the next two years.”

He noted that the initiative would be a boon to SMEs seeking to scale and consolidate their market positions.

He added: “As an SMEfriendly bank, we understand that starting and running a business in Nigeria is no small feat, and there are lots of challenges that SMEs face.

“We have launched the SME Business School to equip them with relevant and practical knowledge to guide them in the effective running of their business and to surmount any challenge they encounter.

“We realized we can tackle problems such as access to finance, market access, dealing with tech disruptions and multiple taxations. We decided to drive this with the Business School. The idea is to provide advisory services and equip them with fresh ideas and insights to take their business to another level.”

Women Group Seek Involvement in National Development Nume Ekeghe Women groups have expressed their concerns over the failure of governments at all levels to reconsider women’s economic requirements in policy design and implementation so as to strengthen their capacities to contribute to national development.

Speaking at a three day capacity building workshop on Women’s economic empowerment, the groups are worried that despite several policies and plans from 1999 to date, these policies have not been able to address and incorporate the needs of women economic empowerment.

According to the executive director, development Research and projects Centre(dRPC), Dr Judith-Ann Walker, who was represented by the Director Projects, Dr Stanley Ukpai, the capacity building workshop is necessary in view of the significant contribution of women in the nation’s economy, but despite that, they still constitute a meagre percentage in real

economic spaces in the country.

“Although Nigerian women account for 41 per cent ownership of micro-businesses in Nigeria with over 23 million female entrepreneurs, making Nigeria among the highest entrepreneurs globally, there is insufficient real economic empowerment and inclusion for women across the real economic sectors, “She said.

She added that there is increasing global awareness that empowering women yields a high return on investment, “this is because women are integral part of the nation’s work force and are present at all along any upstream economic chain either formally or informally.”

Judith noted that between 1999 and 2020, the Nigerian government developed several national development plans, which include; the National economic Directions, The National Economic and Development Strategy, Vision 202020, Seven Points Agenda, Transformation Agenda, Economic recovery growth Plan, and the Economic Sustainability plan, saying all

of these have not addressed women’s economic empowerment needs.

On her part, chairman, Export Group of the Lagos Chamber of Commerce and Industries, Mrs Bosun Solarin, charged the government at all levels on closure of gender gaps for women’s access to property, finance and decent work which are critical to achieving the Sustainable Development Goals (SDGs).

She emphasised the need for the government to explore available initiatives and deploy needed resources towards the cause of women and children in Nigeria.

According to her, women should be offered equal opportunities with their male counterparts in top government positions and boards of public and private sector institutions, adding that the inhibiting components in land use laws need to be repealed and re-enacted with a view to allow for more women access to land and property for business ventures.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͯͳ ͰͮͰͯ

The price of OPEC basket of thirteen crudes stood at $73.15 a barrel on Thursday, compared with $75.29 the previous day, according to OPEC Secretariat calculations.

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

37

T H I S D AY ˾ Ͱͷ˜ ͰͮͰͯ

Oando Shares Hits N5.26, Soar 59.9% in Six Days Darasimi Adebisi The stock price of Oando plc has appreciated by 59.9per cent to N5.26 per share on Wednesday from N3.29 it opened for trading two-day the federal government declared Sallah holidays.

Capital market analysts believe that the resolution of the dispute between the Securities and Exchange Commission (SEC) and the integrated energy solutions provider company

renewed investors’ confidence in the company.

This, according to them, translated into five days consecutive gain of Oando stock price and the Nigerian Exchange Limited (NGX) Oil & gas index growth.

The apex capital market regulating body had announced that it has entered into settlement with Oando following the deadlock that resulted from the complaint from two prominent shareholders of the oil and gas

P R I C E S MAIN BOARD

F O R DEALS

company in 2017.

Following the complaint, the regulator had engaged both the Board and management of Oando and at a stage in the process reached a decision to remove the current management led by Adewale Tinubu.

SEC’s decision was challenged and had led to series of court cases.

Also, the stock price hits 52-week high of N5.26 on Wednesday as market senti-

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

ment on the Oando remains positive.

President of the Association of Capital Market Academics (AMAN) Prof. Uche Uwaleke explained told THISDAY that the resolved dispute enhanced investors’ confidence, stressing that the improved corporate performance of oil sector stocks also contributed.

According to him, “The out of court settlement with SEC is helping to buoy investors’

T R A D E D MAIN BOARD

A S

interest in Oando. “Following strong crude oil prices, Oando

O F

and other oil companies have positive outlook.”

2 8 / 0 7 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

˾ THURSDAY, JULY 29, 2021

Thursday, July 29, 2021

s

Thisday Afrinvest 40 Index Declines by 20bps The dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϮϬďƉƐ ƚŽ ƐĞƩůĞ Ăƚ

THISDAY AFRINVEST 40 INDEX

1,607.87 points. This was on the back of sell pressure on ZENITH (-1.6%), ACCECC (-1.1%), and UBA (-1.3%). These

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘ϰй͘

Sustained Sell Pressure Drags Performance... ASI down

1,607.87

-0.20%

9.5%

60.8%

15.0%

3.5%

615.00

0.0%

25.0%

-27.8%

-27.8%

10.0%

3.5%

71.00

0.0%

11.4%

-8.2%

-8.2%

19.1%

11.2%

34.1x

6.4x

29.55

0.0%

9.4%

-8.7%

-8.7%

26.6%

4.3%

4.3x

1.1x

10.2%

23.5% 30.4%

Yesterday, the local bourse extended its bearish perfor-

3 Guaranty Trust Holding Co PLC 4 Zenith Bank PLC 5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC

index fell by 3bps to 38,791.03 points. Consequently, YTD

8 Lafarge Africa PLC 9 Access Bank PLC

loss weakened ƚŽ ϯ͘ϳй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞͲ

10 United Bank for Africa PLC 11 FBN Holdings Plc

clined ďLJ േϱ͘ϴďŶ ƚŽ േϮϬ͘ϮƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ĚĞĐůŝŶĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĨĞůů by 2.3% and 0.9% to Ϯϯϳ͘ϱŵ ƵŶŝƚƐ ĂŶĚ േϭ͘ϵďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ stocks by volume were OANDO (44.3m units), UBA (19.3m units), and WEMABANK (14.2m units) while ZENITH ;േϮϳϬ͘ϴŵͿ͕ MTNN ;േϮϲϰ͘ϯŵͿ͕ and OANDO ;േϮϯϯ͘ϬŵͿ led by value.

12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC 14 International Brew eries PLC 15 Flour Mills of Nigeria PLC 16 SEPLAT Energy PLC 17 11 PLC 18 Okomu Oil Palm PLC 19 Fidelity Bank PLC 20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc

26 Presco PLC 27 Unilever Nigeria PLC

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ was mixed as 3 ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ Ϯ indices lost, while the Industrial Goods index remained ŇĂƚ͘ >ĞĂĚŝŶŐ ƚŚĞ ŐĂŝŶĞƌƐ ŝƐ ƚŚĞ Oil & Gas index, up 1.7% on the back of ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ

28 PZ Cussons Nigeria PLC 29 United Capital PLC 30 Guinness Nigeria PLC 31 Custodian and Allied Insurance 32 AIICO Insurance PLC 33 Total Nigeria PLC

OANDO (+9.8%) and ARDOVA (+1.1%). In the same vein,

34 Julius Berger Nigeria PLC 35 Wema Bank PLC

the AFR-ICT and Consumer Goods indices rose by 0.1%

36 Union Bank of Nigeria PLC 37 Oando PLC

ĂƉŝĞĐĞ͕

38 Notore Chemical Industries Ltd 39 Beta Glass PLC

ĚƵĞ

ƚŽ

ŐĂŝŶƐ

in MTNN (+0.3%), HONYFLOUR (+1.8%), and DANGSUGAR

40 Transcorp Hotels Plc

(+1.4%). KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝͲ ces lost 1.0% and 0.9% ƌĞƐƉĞĐƟǀĞůLJ͕ ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞ on ZENITH (-1.6%), ACCESS (-1.1%), CHIPLC (-10.0%), and AIICO

(-0.9%).

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϴdž ĨƌŽŵ ϭ͘ϭdž ƌĞĐͲ

ROA

P/E

P/BV

5.5x

0.7x

5.5%

ot Applicable

2.6% 2.9%

-1.6%

7.3%

-1.6%

-1.6%

23.1%

2.9%

3.3x

0.7x

12.1%

0.0%

6.7%

1.3%

1.3%

32.0%

15.5%

13.9x

4.4x

6.5%

7.2%

163.50

0.2%

5.2%

-3.8%

-3.8%

97.1%

11.4%

14.6x

13.2x

5.7%

6.8%

1,540.00

0.0%

4.5%

2.3%

2.3%

104.8%

17.8%

31.1x

41.7x

4.4%

3.2%

22.90

0.0%

4.0%

8.8%

8.8%

8.8%

6.2%

11.5x

1.0x

4.4%

8.7%

9.30

-1.1%

3.4%

10.1%

10.1%

16.4%

1.4%

2.8x

0.4x

8.6%

35.4%

7.70

-1.3%

2.7%

-11.0%

-11.0%

2.3x

0.4x

6.7%

44.2%

7.45

-0.7%

2.8%

4.2%

4.2%

11.1%

1.1%

4.0x

0.4x

6.0%

25.2%

58.00

0.0%

2.3%

3.6%

3.6%

5.6%

2.2%

48.6x

2.7x

1.6%

2.1%

41.00

0.0%

2.4%

8.6%

8.6%

20.7%

2.9%

7.3x

1.4x

8.2%

13.7%

-5.9%

-2.5%

5.10

0.0%

1.5%

-14.3%

-14.3%

30.75

0.0%

1.4%

18.3%

18.3%

770.00

0.0%

2.2%

91.4%

91.4%

1.6%

0.9%

-100.0%

7.4%

3.2%

0.9x

-7.1%

0.8x

5.4%

45.1x

0.6x

5.4%

0.0%

1.1%

20.9%

20.9%

24.6%

16.0%

13.4x

3.0x

6.4%

7.5%

2.41

-3.6%

0.7%

-4.4%

-4.4%

11.4%

1.1%

2.4x

0.3x

8.9%

41.6%

13.2%

5.35

1.9%

0.7%

-10.8%

-10.8%

1.5%

0.1%

17.8x

0.2x

18.50

1.4%

0.7%

5.1%

5.1%

25.5%

12.6%

7.6x

1.8x

8.1%

3.02

-1.9%

0.5%

-9.3%

-9.3%

5.0%

30.5%

1.54

0.0%

0.3%

-24.5%

-24.5%

8.8%

0.9%

4.0x

0.3x

3.2%

25.2%

15.00

0.0%

0.4%

3.4%

3.4%

22.5%

6.8%

8.7x

0.93

-1.1%

0.4%

3.3%

3.3%

-1.3%

-0.3%

70.00

0.0%

0.3%

-1.3%

-1.3%

17.9%

7.3%

14.15

0.0%

0.2%

1.8%

1.8%

-6.2%

-4.1%

6.00

0.0%

0.3%

13.2%

13.2%

6.90

-0.7%

0.3%

46.5%

46.5%

35.5%

4.2%

31.65

0.0%

0.4%

66.6%

66.6%

-17.8%

-9.0%

6.25

0.0%

0.2%

6.8%

6.8%

25.0%

7.8%

3.1x

0.8x

1.07

-0.9%

0.2%

-5.3%

-5.3%

20.5%

3.3%

2.9x

0.2x

203.20

0.0%

0.3%

56.3%

56.3%

22.50

0.0%

0.2%

27.7%

27.7%

8.3%

1.1%

9.9x

0.85

-1.2%

0.2%

23.2%

1.9%

0.0%

5.26

9.8%

0.2%

62.50

0.0%

52.95 3.57

5.6%

3.3x

13.3x

3.1x

2.7%

11.5%

0.6x

1.1%

-2.3%

2.3x

2.9%

1.3x

5.3x

1.7x

10.1%

1.0x

19.0% -20.5%

8.8%

32.5% 34.0%

6.5x

2.0%

15.5%

0.8x

1.8%

10.1%

23.2%

8.4%

0.5%

6.7x

0.5x

4.9%

15.0%

-100.0%

7.4%

0.9%

6.1x

0.6x

4.6%

16.3%

42.2%

42.2%

14.5%

2.6%

2.3x

0.3x

44.2%

0.1%

0.0%

0.0%

-28.7%

-7.6%

1.9x

-16.8%

0.0%

0.1%

-4.4%

-4.4%

9.3%

6.4%

0.0%

0.0%

-0.8%

-0.8%

-10.6%

-5.5%

7.6x

0.7x

2.0%

0.6x

13.1% -22.5%

T o p 10 T r a d e s b y V o l u m e T ic k er

Vo lum e

P ric e C hg %

OA N D O

4.36

9.8%

F ID ELIT YB K

30.5

2.9%

F T N C OC OA

0.45

9.8%

A C C ESS

14.7

2.2%

A R D OVA

17.45

9.7%

UB A

13.8

0.6%

B OC GA S

8.45

9.7%

GT C O

12.8

0.2%

LIVEST OC K

2.16

9.6%

WEM A B A N K

11.3

-1.1%

UA C N

11.40

8.6%

UN IVIN SUR E

10.9

-9.1%

J B ER GER

21.90

7.9%

C OUR T VILLE

9.7

0.0%

WA P C O

22.90

5.3%

ST ER LN B A N K

9.4

2.6%

3.34

4.4%

FCM B

8.2

0.0%

4.3%

Z EN IT H B A N K

8.1

-0.8%

0.49

7.5% -4.9%

P ric e C hg %

SUN UA SSUR

2.2%

110.00

P ric e

R ED ST A R EX

13.2%

24.40

T o p 10 G a i n e r s T ic k er

ROE

248.00

0.0%

23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria

Mixed Sector Performance

Divindend Earnings Yield Yield

THISDAY AFRINVEST 40

3bps

VITAFOAM (-1.6%), and ACCESS (-1.1%) as the All-Share

Price Change Index to Date

Ticker

1 Airtel Africa PLC 2 BUA Cement Plc

mance on the back of sell pressure in ZENITH (-1.6%),

Price Previous Current Change Price YTD Weighting Change

Current Price

ŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ϭϴ stocks advanced T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

while 23 stocks declined. CAPHOTEL (+9.8%), OANP ric e

P ric e C hg %

T ic k er

Value

UN IVIN SUR E

0.20

-9.1%

GT C O

378.3

0.2%

LIN KA SSUR E

0.65

-7.1%

Z EN IT H B A N K

199.8

-0.8%

SOVR EN IN S

0.27

-6.9%

A C C ESS

136.7

2.2%

A F R IP R UD

6.45

-6.5%

A IR T ELA F R I

123.2

2.3%

R EGA LIN S

0.45

-6.2%

UB A

108.6

0.6%

H ON YF LOUR

1.65

-5.2%

D A N GC EM

104.4

0.0%

IKEJ A H OT EL

1.19

-4.8%

SEP LA T

96.4

0.0%

T ic k er

DO (+9.8%), and BOCGAS ;нϴ͘ϵйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ CHIPLC (-10.0%), TRIPPLEG (-10.0%), and PHARMDEKO (9.9%) led decliners. In today’s ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ͕ ǁĞ ĞdžͲ pect sell pressure to persist as investors adjust their holdŝŶŐƐ ŝŶ ůŝŐŚƚ ŽĨ ƚŚĞ EΖƐ ŚĂůƚ ŽĨ &y ƐƵƉƉůLJ ƚŽ ͘

Afrinvest West Africa Limited

P ric e C hg %

UC A P

7.04

-4.2%

UA C N

82.9

8.6%

VER IT A SKA P

0.23

-4.2%

F LOUR M ILL

77.5

3.0%

C H IP LC

0.60

-3.2%

N EST LE

74.8

0.0%

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com Taiwo Ogundipe | togundi-

Christopher Omoh | comoh@afrinvest.com

39

THURSDAY JULY 29, 2021 • T H I S DAY

MARKET NEWS 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

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 27Jul-2021, unless otherwise stated.

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 158.53 160.11 -2.01% Afrinvest Plutus Fund 100.00 100.00 -23.61% Nigeria International Debt Fund 308.20 308.20 -0.53% Afrinvest Dollar Fund 111.51 111.51 4.90% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 7.32% AIICO Balanced Fund 3.28 3.45 -3.35% info@anchoriaam.com 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 4.20% Anchoria Equity Fund 136.31 137.88 2.48% Anchoria Fixed Income Fund 1.10 1.10 -17.35% 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 19.92 20.52 9.84% ARM Discovery Balanced Fund 430.66 443.64 7.56% ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) 1.09 1.09 -0.95% ARM Fixed Income Fund 0.97 0.97 -7.79% ARM Money Market Fund 1.00 1.00 7.82% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.37 105.37 3.60% AVA GAM Fixed Income Naira Fund 1,012.24 1,012.24 1.22% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 128.41 129.05 1.67% AXA Mansard Money Market Fund 1.00 1.00 9.60% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.92% Cordros Milestone Fund 2023 118.74 119.50 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 112.34 112.34 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 6.66% Coronation Balanced Fund 1.19 1.20 -1.14% Coronation Fixed Income Fund 1.37 1.37 -13.68% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 6.70% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 3.98% EDC Nigeria Fixed Income Fund 1,134.29 1,148.97 -1.53% 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 1,394.20 1,394.20 11.32% FBN Balanced Fund 192.47 193.83 2.55% FBN Halal Fund 111.45 111.45 7.72% FBN Money Market Fund 100.00 100.00 9.49% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

126.33 158.84

126.33 3.35% 161.08 5.07% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.96 1.60 1.18

Offer Price Yield / T-Rtn 1.00 5.09% 3.96 2.32% 1.63 4.77% 1.18 3.93% coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

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 7.83% Vantage Balanced Fund 2.93 2.99 2.52% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 151.72 152.00 -2.43% Vantage Equity Income Fund (VEIF) - June Year End 1.29 1.34 2.79% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 0.10% 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 1.43 1.45 4.86% Lotus Halal Fixed Income Fund 1,141.93 1,141.93 5.19% 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 1.66 1.69 7.15% PACAM Fixed Income Fund 11.63 11.69 -4.12% PACAM Money Market Fund 10.00 10.00 4.88% PACAM Equity Fund 1.67 1.68 5.54% PACAM EuroBond Fund 112.47 114.21 2.34% 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 133.13 135.42 9.71% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 10.07% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,291.87 3,326.94 2.50% Stanbic IBTC Bond Fund 231.68 231.68 3.04% Stanbic IBTC Ethical Fund 1.22 1.24 4.24% Stanbic IBTC Guaranteed Investment Fund 304.85 304.85 3.46% Stanbic IBTC Iman Fund 224.25 227.62 2.76% Stanbic IBTC Money Market Fund 100.00 100.00 8.00% Stanbic IBTC Nigerian Equity Fund 10,433.69 10,580.92 -0.58% Stanbic IBTC Dollar Fund (USD) 1.26 1.26 3.12% Stanbic IBTC Shariah Fixed Income Fund 114.91 114.91 3.45% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 102.57 102.57 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.30 1.32 1.60% United Capital Bond Fund 1.90 1.90 3.75% United Capital Equity Fund 0.87 0.89 10.01% United Capital Money Market Fund 1.00 1.00 9.81% United Capital Eurobond Fund 119.23 119.23 4.18% United Capital Wealth for Women Fund 1.06 1.07 3.78% United capital Sukuk Fund 1.06 1.06 5.75% 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 12.98 13.09 9.35% Zenith Ethical Fund 14.30 14.38 16.89% Zenith Income Fund 24.23 24.23 1.03% Zenith Money Market Fund 1.00 1.00 6.55%

REITS NAV Per Share

Yield / T-Rtn

124.53 51.79

10.25% 2.65%

Bid Price

Offer Price

Yield / T-Rtn

13.48

13.58

1.97%

128.37 101.02 18.07 18.57

131.46 103.17 18.17 18.67

6.72% 1.79%

Fund Name SFS REIT Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.99 5.96 17.69 1.00 19.98 151.48

4.03 6.04 17.79 1.00 20.18 153.48

5.54% 4.65% 8.95% 5.55% -2.63% -30.85%

NAV Per Share

Yield / T-Rtn

107.40

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

40

THURSDAY JULY 29, 2021 • T H I S D AY

THURSDAY JULY 29, 2021 • T H I S D AY

41

42

THURSDAY JULY 29, 2021 ˾ T H I S D AY

NEWS

Analysts List Measures to Reverse Capital Flight James Emejo inAbuja Analysts yesterday urged the federal government to tackle the multiple macroeconomic issues that continue to plague the country’s development particularly insecurity, infrastructure and foreign exchange as well as bureaucratic bottlenecks that

discourage foreign investments into the country.

The analysts also urged the government to do more to boost investor confidence especially in the areas of security with strong assurance of the safety of their investments.

The advice came as the total value of capital importation into

Group Upbeat about 2021 Completion Date for Zugeru Power Plant Adedayo Akinwale in Abuja The All Progressives Congress (APC) Legacy Awareness and Campaign, a voluntary thinktank group within the party, has stated that the 2021 completion date for the 700MW Zungeru Hydropower Plant, which will be one of the biggest in the country, remains sacrosanct.

The group stated this in a statement issued yesterday and jointly signed by the party’s Youth Leader, Mr. Ismail Ahmed; former Party Scribe, Mr. Lanre Issa-Onilu, presidential aide, Mr. Tolu Ogunlesi, and the DirectorGeneral of Progressives Governors’ Forum (PGF), Dr. Salihu Lukman, while giving the scorecard of the present administration in the power sector.

The group said since

2015, the administration of President Muhammadu Buhari has focused on completing inherited projects, “many of which had been abandoned or facing funding challenges; resolving the liquidity issues faced by players in the sector; promoting off-grid/renewable initiatives, especially targeting underserved communities and vulnerable populations; and ensuring robust consumer protection for on-grid electricity consumers.”

Aside this, the APC group said the Buhari administration has embarked on the completion of 40MW Kashimbila Dam and Hydropower Plant; 10MW Katsina Wind Farm; 30MW Gurara Hydroelectric Power Plant, which has been completed and concessioned to the private sector last year.

DHQ Upgrades Gender Adviser’s Office Kingsley Nwezeh in Abuja

The Chief of Defence Staff (CDS), General Lucky Irabor, said yesterday that the Defence Headquarters (DHQ) has upgraded the office of the gender adviser headed by BrigadierGeneral Christiana Thomas to a directorate.

Irabor said the decision was the outcome of a recent review of its structures and in accordance with the military’s gender policy on deepening gender mainstreaming.

He disclosed this while receiving a delegation of women led by the Minister of Women Affairs, Mrs. Pauline Tallen.

He said: “We have been able to factor the role of women in combat, training and peace enforcement. We believe that women should be supported.

“Though the military is male dominated but a significant number of women are with us.”

Irabor stated that the gender

based initiatives of the Armed Forces of Nigeria remained a reference and principal focus for the commissioning and enlistment of women into the services.

He expressed the commitment of the DHQ in partnering with the Ministry of Women Affairs in co-hosting the 2021 Security Sector Gender Reference Group Conference.

Irabor acknowledged the role of women in nation building and stated that they should be seen at the forefront.

Tallen, in her remarks, hailed Irabor for launching the Armed Force of Nigeria Gender Policy (AFNGP).

She said: “We want to celebrate and thank you for the launching of the gender policies for the Armed Forces of Nigeria (AFN), which has encouraged other security and paramilitary agencies to emulate this modest achievement on gender equality,” she said.

Cholera Outbreak: Bauchi Gets 1.5m Doses of Vaccines Segun Awofadeji in Bauchi The Bauchi State Government has received a total of 1.5 million doses of cholera vaccine to be administered to 750,000 people against the outbreak of the disease.

However, the Governor of Bauchi State, Mr. Bala Mohammed, has lamented that the people of the state have refused to take the vaccination against the disease in spite of the outbreak of the cholera in the state that has claimed over 50 lives.

Mohammed who took a drop of the oral vaccine called on the people of the state to seize the opportunity offered by allowing themselves to be vaccinated against the killer disease.

The governor said that “since the outbreak of the cholera, I directed that all the victims should

be treated free of charge as the government will provide all that is needed for such treatment. We thank our development partners for their prompt response to the call for action against the outbreak.”

Mohammed assured that government will soon make available the sum of N45m to enable the volunteers to go to the nooks and crannies of the State with the campaign to enlighten the populace on the need to take the vaccination.

He further directed that the Bauchi State Primary Health Care Development Agency (BASPHCDA) should take charge of the funds and make it available to all the volunteers across the state stressing that everything possible must be done to keep the state and its people healthy.

the country declined by -54.06 per cent to $875.62 million in the second quarter of the year (Q2 2021) from $1.91 billion in the preceding quarter.

According to the National Bureau of Statistics (NBS), this also represented a contraction of 32.38 per cent when compared to Q2 2020.

In separate interviews with THISDAY, the analysts, among other things, urged the federal government to as a matter of urgency lure investors with attractive tax forebearance packages and other incentives to draw more investors into the economy.

According to the Nigerian Capital Importation (Q1 & Q2 2021) report published by the statistical agency, portfolio investment accounted for 62.97 per cent or $551.37 million of

total capital importation.

This was followed by other investment, which accounted for 28.13 per cent or $246.27 million of total capital imported while Foreign Direct Investment (FDI) contributed 8.90 per cent or $77.97 million to capital inflows in Q2.

Also, the banking sector dominated in Q2 reaching $296.51 million of the total capital importation.

The United Kingdom (UK) emerged as the top source of capital investments in the country in with $310.26 million, representing 35.43 per cent of the total capital inflow in the review period. Lagos State emerged as the top destination of capital investment in the country in with $780.06 million or 89.09 per cent of the total capital inflow in Q2.

The NBS stated that Stanbic

IBTC Bank Plc emerged at the top of capital investment in Q2 with $310.21 million, representing 35.43 per cent of the total capital inflow in Q2.

Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelleng, said there was huge capital outflows last year due to the COVID-19 pandemic as portfolio investors looked to flee to safer zones amidst the uncertainties of the pandemic.

According to him, some investors were unable to exit due to scarcity of FX in the country and as such may have had to extend their positions until FX liquidity improved.

He added:”As the effects of the pamdemic on economies have plateaued and oil prices

have rebounded, it has provided more opportunities for investors to exit the more volatile sub-Saharan markets.

“As the figures show, the capital importation for Q1 and Q2, 2021 have largely been through portfolio investments (62.97 per cent), which tends to be short term “hot” funds that provide liquidity to financial markets but do not necessarily impact the economy in the long run. This is often an indication of investor apathy towards long term investments in Nigeria.”

However, Shelleng pointed out that the reversal of the trend will require the government to address issues around the macroeconomy and insecurity.

He alsi said the utilisation of free trade zones may also encourage FDIs adding that “security issues must be addressed”.

WAR AGAINST CHOLERA…

Bauchi State Governor, Senator Bala Mohammed (left); and his wife , Hajiya A’isha Bala Mohammed, displaying the cholera vaccination certificate during the flag-off of the vaccination exercise in Bauchi...yesterday

Abducted First Class Traditional Ruler in Kaduna Regains Freedom The kidnapped traditional ruler of Jaba Chiefdom in Kaduna State, Gyet Maude, has regained his freedom.

Sources said he was released by his abductors yesterday evening after spending two days with his abductors.

The 83-year-monarch of Jaba Chiefdom was kidnapped on Monday by gunmen suspected to be kidnappers on his farm at Gitata Community in Nasarawa State.

The kidnappers had demanded a N100 million

ransom before they would release the traditional ruler.

However, the sources did not say if any ransom was paid or if the royal father was rescued by security operatives.

Although the police authorities and Kaduna State

government are yet to confirm the release of the first class traditional ruler, a source within the traditional council, Anthony Maude, told Channels Television that he returned to his palace along with some of his aides.

Hushpuppi to Plead Guilty to Money Laundering Arrested alleged international fraudster, Ramon Abbas, popularly known as Hushpuppi, is to plead guilty to charges including wire fraud, money laundering, felony and others brought against him by the United States District Court for the Central District Of California.

Hushpuppi, 37 years old was arrested in Dubai in June 2020 alongside 12 other members of his crew. The Dubai Police later handed them over to the FBI in the United States and they had since been arraigned on charges of conspiracy to commit money laundering, among others.

But in a plea agreement document signed by Hushpuppi; his lawyer, Loius Shapiro; Acting United States Attorney, Tracy Wilkison, Hushpuppi consented to plead guilty as charged.

According to the document, Hushpuppi risks “20 years’ imprisonment; a 3-year period

of supervised release; a fine of $500,000 or twice the gross gain or gross loss resulting from the offence”.

“Defendant (Hushpuppi) admits that defendant is, in fact, guilty of the offence to which defendant is agreeing to plead guilty.

Nigerian Entrepreneur Appointed University Chancellor in Scotland Peter Uzoho A Nigerian female entrepreneur, best-selling author and passionate supporter of women in business, Yekemi Otarui, has been appointed Chancellor-elect of University of the West of Scotland (UWS).

Otarui, a geologist by training with extensive experience in oil and gas, is a native of Ekan Meje, near Omuaran in Kwara State, Nigeria.

According to a Scottish online medium, she will take up the role of chancellor of the Scottish university on September 1, succeeding the incumbent Chancellor, Dame Elish Angiolini.

Otarui, is the youngest and the only black on the Board of Interface, the Scottish government’s agency coordinating the academic

institutions in the industry.

The Nigeria business expert, whose book has been a best seller on Amazon in her category for three years, holds four degrees and is said to have considerable industrial experience in engineering and marketing.

She is also a co-founder and Executive Director at Doqaru, an Aberdeen-based sales and marketing consultancy.

The UWS’s chancellor-elect is also a Board Member of Interface, which connects a wide range of organisations from national and international industries to Scotland’s universities, research institutes and colleges, matching them with academic expertise to help them grow.

Described as a social media expert, Otarui, is also known for her innovative use of platforms such as LinkedIn.

As chancellor, she will hold formal powers to confer degrees, diplomas and other academic distinctions, and will represent UWS at key events as an advocate and dignitary.

Excited by the appointment, Otarui said: “I am honoured to have been appointed chancellorelect of University of the West of Scotland, following in the footsteps of a remarkable individual in Dame Elish Angiolini.

“We are all living through challenging times, and higher education plays a vital role in society and for our economy. I eagerly look forward to being part of the university, as it continues to carry out worldclass research and knowledge transfer initiatives such as in the areas of healthcare and sports science.”

Commenting on her appointment, the Principal and Vice-Chancellor at UWS, Prof. Craig Mahoney, was quoted as saying that Otarui’s values aligned with those of the university.

Mahoney said: “Yekemi’s values very much align with those of UWS, from her passion for advancing equality, diversity and inclusion to her commitment to enterprise, and her appointment is reflective of our strategic mission to make a positive difference to wider society.

“Yekemi is a remarkable example of entrepreneurship and a tremendous role model for our students and wider university community. I am delighted to welcome her to the UWS family.

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FG Approves N8.5bn for Research, Vaccine Production Kuni Tyessi in Abuja The federal government has approved the sum of N8.5 billion for research in medicine, particularly vaccine production and other areas, for 2021, under the National Research Fund (NRF) scheme funded by the Tertiary Education Trust (TETFund).

The Executive Secretary of TETFund, Prof Suleiman Bogoro, disclosed this yesterday at a three-day workshop for directors of Research and Development of public universities in Nigeria held at the Central Bank of Nigeria (CBN) Training Institute in Abuja.

Bogoro said: “With your support, I made a case to the

MMA2 Bags Most COVID-19 Compliant Terminal Award Murtala Muhammed Airport, Lagos Terminal Two (MMA2), operated by Bi-Courtney Aviation Services Limited (BASL), has won the award of the MostT COVID-19 Compliant Terminal instituted by the League of Airport and Aviation Correspondents (LAAC).

The presentation took place during the 25th edition of LAAC Annual Conference & Awards held in Lagos yesterday..

The award, which was presented to BASL on behalf of LAAC by Mallam the Executive Commissioner (Operations), Federal Competition and Consumer Protection Council, Mallam Adamu Abdullahi, according to the organisers, was in recognition of the high level of safety protocols put in place by the company in its operations as mandated

by the Presidential Steering Committee on COVID-19.

The protocols include: physical distancing between passengers and floor markings, social distancing, nose mask wearing, baggage disinfection before flight, temperature checks before entering airport premises and use of hand sanitisers.

In the citation, LAAC stated that the terminal operator ensured standard passenger facilitation processes and Port Health officials screen all terminal users before they are allowed to access the facility.

Receiving the award, the Group Corporate Affairs Manager, BASL, Mr. Mikail Mumuni, expressed the company’s appreciation to the League, saying it signified an endorsement of Bi-Courtney’s contribution to making the nation’s aviation sector safer.

BEDC Decries Rising Cases of Vandalism in Franchise Areas According to BEDC, the Goddy Egene BEDC Electricity Plc (BEDC) has decried the rising cases of vandalism across its franchise zone, saying it is an economic crime and an act of sabotage against the good purpose and intents of the company.

BEDC is therefore, canvassing that tougher laws should be enforced to protect public property, especially electricity infrastructure.

The company stated this in a press release signed by the Head, Corporate Affairs, Mr. Adekunle Tayo, where he appealed to members of the public on the need to be vigilant and security conscious on the activities of some unruly elements in the society whose aim is to make life unbearable for them through their nefarious acts.

power sector has been the most hit in the most devastating manner and the effect of vandalism cannot be over emphasized as residential customers, industries, small and medium scale businesses are being starved of power as a result of the activities of vandals. ‘’The recent surge in cases of vandalism within our franchise area calls for greater attention. More worrisome is the fact that these miscreants are continuously innovating new ideas beyond human comprehension to perpetrate their criminal acts. We see the recent vandalism of 14 spans of electricity conductors in Ilutitun, Southern Ondo state, on a line currently being rehabilitated by the Niger Delta Power Holding Company (NDPHC) as very disturbing.

Diri: Army, Others Should Make Security Collective Responsibility Olusegun Samuel in Yenagoa The Bayelsa State Governor, Senator Douye Diri, has charged security agencies to work in collaboration with the people in order to end the country’s intractable security challenges and enable Nigeria to maintain its status as the “Giant of Africa.”

Diri stated this on Tuesday when the Chief of Army Staff, Lt. General Farouk Yahaya and other principal army officers paid him a courtesy visit in the Government House, Yenagoa.

In a press release that was issued yesterday by Chief Press Secretary to the Governor, Mr. Daniel Alabrah,

the governor restated the need for all Nigerians to join hands as a people to accelerate the country’s pace of development.

The governor said: “We cannot afford to disunite our country because we need to be together and work together to make this country one of the best.

“This can only be done when we work as one people whose development had been stunted and strive to fast-track it.”

He congratulated Yahaya on his appointment as Nigeria’s 22nd Chief of Army Staff and prayed that God would grant him the wherewithal to stamp out insecurity in the country.

board of trustees to increase the NRF research grants. Initially we had seed money of N3 billion, and it was exhausted, so N1billion was added between 2016 and 2019.

“But when I came in, I decided to revolutionise it, and I have stated that it is not a question of seed money-let it be annual money. And that is why I made a case for N5 billion in 2019. In 2020, we raised it to N7.5 billion.

“This year, the president

has approved another N7.5 billon, but with the additional N1 billion, we intend to do a ground breaking in respect of the COVID-19 challenge.”

Bogoro, however, decried the failure of research institutes to have the appetite to establish a good relationship with universities for the purpose of promoting research and development, stating that universities are also guilty of disregarding them.

He stressed the need for

collaboration between the universities and research institutes to know what the institutes are doing, and offer assistance where necessary.

While urging participants at the workshop to take the initiative of looking at why kidnapping has become so lucrative, the TETfund boss lamented that young engineers and technology experts were rather deploying their expertise to aid the growing wave of abductions across the country.

Also, he challenged university professors not to only parade titles, but to engage in problemsolving research that will change things for the good of the country.

Earlier, TETFund Director of Research and Development, Dr. Salisu Bakare, noted that universities are by nature problem-solvers, adding that when universities are not solving problems of the society, the question remains whether they are achieving their mandates.

ALL FOR AVIATION… …

L-R: Representative of Minister of Aviation and Commissioner/CEO, Accident Investigation Bureau, Mr. Akin Olateru; Chairman, House Committee on Aviation, Hon. Nnolim Nnaji; Senate Committee on Aviation, Senator Smart Adeyemi; Chairman, League of Airport and Aviation Correspondents (LAAC), Mr. Segun Koiki; Chairman, West Link Airlines/ Chairman of the occasion, Captain Ibrahim Mshelia at the 25th Annual Conference and Awards organised by LAAC in Ikeja, Lagos...yesterday KOLAWOLE ALLI

NSCDC Captures Notorious Bandit in Sokoto Michael Olugbode in Abuja A notorious bandit, who has been on the wanted list of security agencies in the country, Bello Galaduma, has been captured by the Nigeria Security and Civil Defence Corps (NSCDC).

Galaduma, who had been on the watch list of all security

agencies in the country for two years, was captured in Sokoto State in the North-west having fled from his Niger State enclave in the North Central of the country.

According to a statement on Tuesday by the spokesman of NSCDC, Olusola Odumosu, 40 years old Galaduma specialises in liaising with kidnappers by

giving them information of persons to be kidnapped. He also, assist kidnappers in buying drugs and other items they use for their nefarious activities.

He said the captured bandit was formerly operating in Niger State before relocating to Sokoto State where luck ran out on him leading to his capture and arrest by operatives of the NSCDC.

Odumosu claimed the feat was made possible due to actionable intelligence received by the officers and men of the NSCDC, Sokoto State Command who responded immediately and laid siege in the Aliyu Jodi area of Sokoto State, where he went to buy drugs and also to satisfy his sexual urge.

APC Primaries: Nasarawa Assembly Majority Leader, Commissioner Escape Death Igbawase Ukumba in Lafia The Majority Leader of the Nasarawa State House of Assembly, Umaru Tanko Tunga, and the state Commissioner for Local Government and Chieftaincy Affairs, Aliyu Turaki, last Tuesday narrowly escaped death during the primary

election of the All Progressives Congress (APC) in Awe Local Government Area of the state.

The primary election in Awe LGA was to produce the chairmanship candidate for the local council in the October 6, 2021, local council election in the state.

The duo escaped death by the whiskers following a

fierce clash between supporters of the camp of a leading chairmanship aspirants, Umaru Tanko Dan Al-Kano, and the camp of Usman Umaru, who both accused each other of plotting to rigged the primary election.

An aide to the immediatepast Chairman of the local government area, who is

the leading contender for the primary election, Yusuf Dogara, alleged that the state Assembly Majority Leader and the state Commissioner for Local Government had hijacked the process of the exercise in their attempt to rig and impose their preferred candidate against the wishes of majority of the electorate.

Libel: Appeal Court Orders ICAN to Pay Former Wale Igbintade The Court of Appeal, Lagos Division, has dismissed an appeal filed by the Institute of Chartered Accountants of Nigeria (ICAN) challenging the judgement of Justice Olateru Olagbegi (rtd) of the Lagos State High Court, which ordered the Institute to pay a former student, Paul Ikele, N500, 000 for libel.

In his lead judgment, Justice

Gabriel Kolawole found the appeal lacking in merit, and consequently dismissed it and awarded an additional N200, 000 in favour of the respondent.

Justice Kolawole’s judgment was consented to by Justice Obande Ogbuina (presiding) and Justice Ugochukwu Ogakwu.

The respondent had sued ICAN in the lower court for publishing in its October/ December 1991 edition Vol.

XXIV. No 4 of ‘The Nigerian Accountant’, a story captioned: ‘Blacklisted’, about him with his photograph prominently displayed at the bottom of the story.

He alleged that ICAN falsely and maliciously accused him of faking the Institute of Cost and Management Accountant (ICMA) and the Institute of Chartered Secretaries and Administrators (ICSA) certificates.

The respondent was also alleged to have forged the signature of his purported sponsor in his application for exemption in some of ICAN examinations.

He contended that the published words, in its ordinary and natural meaning, meant that he was blacklisted for fraudulent acts and barred from further applying to become a member of ICAN.

Suspected Cultists Kill Youths’ President in Akwa Okon Bassey in Uyo Suspected cultists have killed the Youth President of Atai Ibiaku community in Itu Local Government Area, Mr. Edet Ibanga, and left many people wounded in Uyo, Akwa Ibom State capital.

Sources said Ibanga was shot dead yesterday when armed

hoodlums numbering about 18 invaded a building principally occupied by students of the University of Uyo (UNIUYO) along Urua Ekpa Road, in search of a man over unresolved issues with his girlfriend.

An eye witness, Mr. Imoh Ekim, said: “The incident happened around 1:00 a.m. on Wednesday, when the hoodlums

stormed the compound in search of one man, who was having an issue with his girlfriend.

“The deceased, being the youths’ president had to rush from his compound to the opposite compound at Urua Ekpa Road upon hearing the sound of gunshot and heated arguments involving the people.

“He was shot in the chest immediately he opened the gate of the compound trying to enter with a view to settling the dispute, but oblivious of the fact that one armed cultist, stationed at the gate opened fire directly and he went down.”

Ekim said that the body of the youth leader has deposited in a mortuary.

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Osborn Road Residents Want Court to Jail Lekki Garden Boss Wale Igbintade

The Registered Trustees of Osborne and Foreshore Residents Association, Lagos, have initiated a contempt proceeding before the Federal High Court, Ikoyi, Lagos, praying the court to commit to prison the Chief Executive Officer of Lekki Gardens Estate Limited, Mr. Richard Nyong.

The trustees, in a committal application filed by their lawyer, Mr. Kemi Pinheiro

(SAN), are also asking the court to jail the Project Manager of the construction firm, Kehinde Dawodu, for allegedly flouting the ‘stop work’ order issued by the court.

Also sued alongside Nyong and Dawodu are the National Environmental Standard and Regulations Enforcement Agency; Lekki Gardens Estate Limited; Foreshore Waters Limited, and Lagos State Physical Permit Authority.

Justice Nicholas Oweibo

had on July 9, 2021, granted an interim injunction restraining Lekki Gardens Estate Limited and Foreshore Waters Limited from carrying out any further construction, development or building activities in Osborne Foreshore Estate II, Ikoyi,

Lagos.

Nonetheless, in the affidavit attached to the application, the residents claimed that the two alleged contemnors have disregarded the order of the court, and continued to work on the site.

The trustees also prayed

the court for an order cordoning off the estate of Nyong and Dawodu, known and situated at Block II Plot 2, Plot 7; Block Plot 5 Block 6, Plot 17 Block 9, Block 9 Plot 23, Block 9 Plot 17, Block 10 Plots 1A, 1,1C, Block 6 Plot 19, Block 6 Plot 12, Plot 9A,

Block 6 Plot 14, and Block 11 Plot 2.

Others are Signature One on Royal Palm Drive; Signature two, Le Chateau, Insigma and Foreshore Towers on Acacia road, within the estate, in disobedience to the order of the court.

Police Retirees May Get 300% of Salaries as Gratuity Laleye Dipo in Minna A proposal has been made to President Muhammadu Buhari for the approval of the payment of 300 percent gross annual salaries as gratuities to retired police officers.

This is even as some police retirees have asked for their total exit from the pension schemes like their counterparts in the Nigerian Army, Directorate of State Security Service (DSS) and the National Intelligence Agency (NIA).

The Managing Director of the Nigeria Police Force Pension Limited, Alhaji Abdulkareem Gizawa, stated during an interactive session with about 2,000 retired policemen from the North Central geo-political zone in Minna yesterday that President Buhari has, however, approved the payment of the 2.5 percent increment in the pension for all pensioners.

Gizawa added that the

president had also approved the payment of death benefits to the relations of police personnel that died between 2014 and this year, but did not say when the affected people would start receiving the bank alerts to confirm the payment.

The managing director said the interactive session was being held with police retirees across the country because “most of the retirees are complaining about the little pension they are being paid.”

Also, while addressing the retirees, Deputy Inspector-General of Police(DIG) in charge of Finance and Administration, Force Headquarters, Sanusi Lemu, acknowledged that police salary is very poor, adding that the only time “we had a remarkable improvement in our salaries and welfare packages was during the administration of late President Umaru Musa Yar’ Adua.”

Lagos PDP Secretary, Shodipe, is Dead The Peoples Democratic Party (PDP) in Lagos State has announced the death of its Secretary, Prince Muiz Shodipe.

The state PDP Publicity Secretary, Taofik Gani, who noted that Shodipe died in the early hours of yesterday, said the sudden loss of Shodipe was one death too much for the party.

According to Gani, “The party fears that the death of the dogged secretary at this time is a big blow which may slow down the reengineering of the party in the state.

“It, however, submits to the will of God just as the party prays

for the soul of the departed to rest in the bosom of the Lord.”

He prayed for the family to have the fortitude to bear the monumental loss.

The spokesman said the party had directed all its flags in the state to be flown at half-mast and special prayers be held for the departed at all its meetings statewide.

Gani further announced that Service of Songs will hold today for Shodipe at No 12, Akinyele Street, Aguda, Surulere by 4 to 6 p.m., while interment will hold on Friday at Oke-Suna Cemetery, Lagos Island.

ENUGU AIRPORT ROAD PRIME LANDED PROPERTY FOR SALE. Landed Property for Sale on Prime location along Airport Road, Enugu, measuring about 2,000m2.

The Property is located 3 (three) minutes drive to Akanu Ibiam International Airport, Enugu.

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DOCTORS’ MEETING…

L-R: Ekiti State Governor, Dr. Kayode Fayemi; former Chief Medical Director(CMD), Afe Babalola University Multi-system Hospital, Ado Ekiti, Prof. Fola Esan; and former Minister of Health, Prof. Isaac Adewole, during the Annual General Meeting of the Nigerian Medical Association (NMA) in Ado-Ekiti...recently

Army Recruitment: Zulum Gives N12.8m Support to 641 Borno Candidates Michael Olugbode in Maiduguri Borno State Governor, Prof.

Babagana Zulum, has given N12.8 million as support for 641 candidates from the state currently at their final stage of the recruitment exercises into the Nigerian Army’s 81 regular intake for 2021.

Zulum announced the support on yesterday while addressing the candidates at Maimalari barracks in Maiduguri.

The governor was received at the barracks by the Theatre Commander of Operation Hadin Kai, Major General Christopher Musa. The 641 candidates, each of whom is to get N20,000, were

those who passed different stages of medical and fitness tests and soon to leave for final military fitness exercises at Falgore Game Reserve in Kano from where successful candidates will be recruited into the Army.

Governor Zulum urged all the candidates, many of whom hailed from the 27 local government

areas of Borno State to be good ambassadors of the state.

“I commend your patriotism for choosing to enlist into the Army. However, as citizens of Borno, I advise that you should be good ambassadors of our State. Under no circumstances should you behave wrongly anywhere outside.”

New Olu of Warri Will Take Itsekiri Nation to Greater Heights, Says Agbor Monarch Sylvester Idowu in Warri The Dein of Agbor Kingdom, His Majesty, Dr Benjamin Ikenchuku, yesterday stated that the new Olu of Warri-designate, Omoba Tsola Emiko, would take the Warri Kingdom to greater heights.

Ikenchuku, therefore, showered praises on the Itsekiri

nation for the choice of Omoba Tsola Emiko as the next Olu of Warri.

The first class monarch, during a visit to Omoba at Ideniken (his traditional seclusion home) in Warri Kingdom, Delta State, acknowledged that Agbor and Warri Kingdoms had always enjoyed robust relationship from the defunct Bendel State,

adding that in Delta State, Warri Kingdom is his second home.

He commended the chiefs of the kingdom for their roles in promoting the rich values of the Warri Kingdom, and urged them to continue to do so.

Ikenchuku said: “I thank all the chiefs of the kingdom here. By tradition, this is an isolation period. It is the blood

ties between Agbor and the Warri Kingdoms that made it possible for me to be here in this time of isolation.

“What will be will be. There are only two First Class kings in Delta State, which are the Obi of Agbor and the Olu of Warri. Never embarrass your king, anybody who does, embarrasses himself.”

Five ‘Buhari-Must-Go’ Protesters Get Bail Alex Enumah in Abuja Mr. Muhammed Zubairu of the Magistrate Court in Mpape, Abuja, yesterday, granted bail to five ‘BuhariMust-Go’ protesters in the sum of N500, 000 each and a surety in like sum.

The court admitted the defendants to bail shortly after their arraignment and subsequent argument

for their bail application by their lawyer.

The defendants, Mr. Ben Manasseh, Mr. Anene Udoka, Mr. Henry Nwodo, Mr. Samuel Larry and Mr. Samuel Gabriel, were arrested by the Department of State Service (DSS) at the Dunamis International Gospel Church, along Airport Road, Abuja, on July 4 for wearing T-Shirts with the inscription, ‘Buhari-

Must-Go,’ to the church.

Only few days ago, Justice Anwuli Chikere of the Abuja Division of the Federal High Court, ordered the DSS to release them unconditionally.

The order was made sequel to an exparte application for their release by their Counsel, Mr. Tope Temokun.

Instead of complying with the order, the security agency hurriedly filed charges against

them that bordered on alleged disturbance of public peace amongst others.

However, they pleaded not guilty to all the charges read against them.

Zubairu, in a short ruling, held that bail could be granted for the charges against the defendants, adding that they had been held by the DSS since July 4 without trial.

Ganduje Inaugurates Visitation Panels to Probe Schools Ibrahim Shuaibu in Kano Kano State Governor, Abdullahi Umar Ganduje, yesterday inaugurated a 48-member visitation panel to investigate white paper reports and other pressing challenges bedeviling the state-owned tertiary institutions.

The panel, which was inaugurated after five years

of absence, would probe vice chancellors, rectors and provost over alleged financial misappropriation and other academic challenges.

The panel consisted of prominent personalities, including two former deputy governors, professors and senior citizens, who are expected to also conduct staff audit verification.

The visitation panel is divided to cover eight tertiary institutions, including Kano University of Science and Technology, Wudil; Yusuf Maitama Sule University, Kano State Polytechnic and Sa’adatu Rimi College of Education.

Others are Aminu Kano College of Islamic Studies; Audu Bako College of Agriculture, Dambatta;

Kano State College of Education and Preliminary Studies, and Rabiu Musa Kwankwaso College of Advance and Remedial Studies.

Addressing the panel, Ganduje reminded the visitation committee to critically examine the management of finance, revenue generation and compliance to regulations guiding the institutions.

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FG Expresses Dissatisfaction over Low Lottery Revenue Dike Onwuamaeze The federal government has expressed dissatisfaction over the lottery and gaming industry’s low contribution to its revenue in spite of the reports that the industry generated N250 billion in 2019.

The feeling of the federal government was conveyed to the industry by the Minister of Special Duties and Intergovernmental Affairs, Senator George Akume, in an address he delivered yesterday at the opening ceremony of a two-day National Gaming Conference hosted by the National Lottery Regulatory Commission (NLRC) in Lagos State.

The theme of the conference is: ‘Repositioning the Nigerian Gaming Industry for Better Performance and Revenue Enhancement for Stakeholders in the 21st Century’.

Akume said the federal government would soon introduce measures, including the Central Monitoring System (CMS), for the gaming industry, in order to stem the poor contribution of the industry to government’s efforts to diversify its revenue sources and lift 100 million Nigerians out of poverty.

He said the government felt sad that revenue from the lottery industry has continued to fall short of its potential and expectations in spite of the creation of the NLRC in 2005 to enable the government to properly organise the operation of lottery business that was hitherto an all-comers affair.

The minister asked: “Where is the revenue generated from the gaming transactions in Nigeria?

The 2019 reports indicated that gaming industry in Nigeria, including international stakeholders, generated in

Diri Cautions Appointees against Early Politicking Ahead of 2023 Olusegun Samuel in Yenagoa Bayelsa State Governor, Senator Douye Diri, has cautioned his appointees against early politicking ahead of the 2023 elections, saying he would not hesitate to sack any of them found wanting.

Speaking before the commencement of the weekly State Executive Council meeting in the Government House yesterday, Diri frowned at the activities of some of his appointees, which he said were hitting up the polity ahead of the 2023 elections, stressing that it was too early for open politicking.

A statement issued by his Chief Press Secretary, Mr. Daniel Alabrah, quoted the governor as saying that despite the fact that the people have the right to aspire to any political office, the time was not ripe for politicking.

Diri reminded his appointees that the administration lost considerable time last year due to COVID-19 and needless litigations, stressing that it was in a hurry to deliver on its campaign promises, so cannot afford to waste time politicking.

He wondered why appointees would be involved in open politicking when the Independent National Electoral Commission (INEC) had not even released a timetable for elections.

The governor urged members of his cabinet interested in open politicking at this time, especially those from BayelsaWest senatorial district, to resign or be ready to be sacked.

Diri, meanwhile, swore in two new aides.

They are Special Adviser on Legal Matters, Alabo Ozubide, and Special Adviser on NonIndigenes, Onuma Johnson.

While congratulating them, he said their appointments were based on merit and in line with his campaign promises.

He charged them to avoid friction with commissioners, but to cooperate with them to deliver development to people of the state.

Also, the state chapter of the National Union of Local Government Employees (NULGE) has commended the governor for his financial support to local councils in the state by ensuring prompt payment of workers’ salaries.

excess of N250 billion. Yet revenues to the government did not exceed N1 billion for the same year. This is not only disappointing, it is unsustainable and unacceptable.

“Various stakeholders have

made effort to enhance revenue generation for the government through the lottery/gaming industry. However, it is saddening to note that lottery revenues have continued to fall short of the industry’s potential

and expectations largely due to various conflicts of interest.”

Akume said the dismal contribution of the lottery industry to the federal purse begged the following questions: “Why is the gaming industry

not doing more? Why has the industry contributed less than N10 billion to the National Lottery Trust Fund (NLTF) in the last 10 years? Why are well-known revenue generating measures not implemented?

HEART ‘N’ SOUL GALA…

L-R: Executive Director, Emzor Pharmaceutical, Mrs. Ezoma Ezeoke; member, Board of Directors, Chike Okoli Foundation, Mrs.TaiwoTaiwo; Chief Executive Officer, Emzor Pharmaceutical/Chairman, Board of Directors, Chike Okoli Foundation, Dr. Stella Okoli; wife of the Ogun State Governor, Mrs. Bamidele Abiodun; and a Director of the Foundation, Mr. Emeka Okoli, at the Foundation’s 15th annual Heart and Soul Gala held in Lekki, Lagos... yesterday

FG Committed to Completion of East-West Road, Akpabio Promises Niger Delta Youths Nseobong Okon-Ekong The Minister of Niger Delta Affairs, Senator Godswill Akpabio, has appealed to protesting Niger Delta youths to give the federal government more time and assured them that the Ministry of Niger Delta Affairs would take adequate steps to address the deplorable state of the Eleme-Onne section soon with a view to complete the project by 2022.

Akpabio disclosed this while meeting with the Ogoni Ethnic Nationality stakeholders recently where he appealed for peace and calmness by the youths in Port Harcourt, Rivers State.

The minister, who was represented by the Permanent Secretary of the Ministry, Dr. Babayo Ardo, informed the youths that with the review of the initial contract scope of work and contract unit rates imperative, specific measures

for addressing the contingent site conditions militating against the progress of work were taken.

Conveying the efforts being made by the federal government through the ministry on the progress on the upgrade of 15km Port Harcourt to Onne Port Junction Section lllA of the ongoing East-West Road Dualisation project contract, the minister noted that the initial contracts for

dualisation of the 338km road linking Warri to Oron through Kaima, Ahoada, Port Harcourt, Ogoni and Eket Townships (Sections 1-1V) was initially awarded in four sections to four different contractors in 2006. “lt is well known that Section 1 (Warri - Kaima covering km.

0+000-Km.15+000 was not part of the contract initially awarded in 2006 because it was in good condition having been dualised earlier.”

NEITI, EFCC Sign Pact against Corruption Emmanuel Addeh in Abuja Two anti-graft agencies, the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Economic and Financial Crimes Commission (EFCC) yesterday firmed up a pact that would ensure more transparency in the oil and mining sectors.

During the ceremony which took place in Abuja, the Executive Secretary of the NEITI, Dr. Ogbonnaya Orji, signed for the organisation, while Mr. Abdulrasheed Bawa signed

for the EFCC. Both agencies agreed to cooperate in the areas of information and data sharing, joint operations, prevention and remediation actions on governance, processes and corruption issues in Nigeria’s extractive sector.

Other areas of cooperation and partnership include regular capacity building and trainings, participation in fraud risk assessment efforts, investigation, prosecution and management of information, compliance and

enforcement of sanctions.

The NEITI and the EFCC also agreed that the modalities for the collaboration and partnership must be based on the implementation of the EITI principles and the NEITI processes and within the operational mandate of the EFCC. While lauding the formalisation of the partnership and cooperation, Orji noted that in the past, NEITI had no enforcement powers, but added that with the new Memorandum of Understanding (MoU), graft

in the sectors would be tackled head-on.

He said: “In the past, there were assumptions that the NEITI can only bark, but cannot bite. But the MoU signed today with the EFCC has provided the NEITI with the teeth, which have been missing. We can now bark and bite.

“The NEITI has expertise in the oil, gas and mining sectors and EFCC has expertise in investigation and prosecution of crimes in extractive sector operations.”

Plans New Market for Farmers, Buyers Court Remands Man for Defiling Edo The Edo State Government, of the project. among others. can easily access farm produce yesterday, met with The stakeholders represented Speaking to journalists in at an affordable price.

Three Daughters stakeholders to finalise plans at the meeting include Benin City, the Managing “The stakeholders’ enDavid-Chyddy in Awka

An Anambra State High Court has remanded a 48-year-old man, Igbo Thomas, in the Awka Correctional Centre in the state over alleged defilement of his three daughters.

Thomas, who hails from Enugu State, was said to have committed the offence at Enuoji village in Enugwu Ukwu, Njikoka Local Government Area of Anambra State.

The Anambra State Command of the Nigeria Security and Civil Defence Corps (NSCDC) had arrested him on May 24, 2021, in Okolo Ani village, Igbo Etiti LGA of Enugu State for the offence.

The suspect, who reportedly confessed to the crime, blamed his action on the influence of alcohol .

A statement issued by the

NSCDC state Public Relations Officer, Edwin Okadigbo, stated that the NSCDC Commandant, Vincent Ogu, had ordered for discrete investigation into the matter before the suspect was charged.

Okadigbo said: “The suspect was arraigned in Awka yesterday, and was ordered to be remanded at the correctional centre by the state high court Judge.

“On May 24, 2021, the Anambra State Command of the NSCDC arrested one Mr. Igbo Thomas of Okolo Ani village in Igbo Etiti LGA of Enugu State for allegedly having canal knowledge of his three daughters.

“Upon conclusion of a thorough investigation, the suspect was arraigned before a state high court Judge, and has been remanded at the Awka Correctional Centre.”

on the construction of a new market that would connect farmers in the state with potential buyers.

The engagement session, tagged ‘Edo Farmers Market Stakeholders Forum’, organised by the Edo State Skills Development Agency (EdoJobs), assembled agricultural stakeholders in the state to brainstorm on the viability

the Farmers Association/ Cooperatives, the Heads of Agriculture Department in Local Governments, the Ministry of Agriculture, Aggregators and Processors.

Others are exporters, including Edo Exporters Cluster and the Nigeria Export Promotion Council (NEPC), drivers, agri-preneurs, market unions and community heads,

Director of EdoJobs, Mrs. Ukinebo Dare, said: “The Edo State Government has finalised plans for the opening of a new market to connect farmers in the state with potential buyers.

“The market will be an access point where local farmers can bring their produce and achieve increased sales. It is to be located along the BeninLagos Road where travelers

gagement today was a brainstorming session on the project to ensure that every stakeholder is carried along in that process.

“The Governor Godwin Obaseki-led state government is committed to ensuring the realisation of the project that will see that farmers are exposed to new markets and buyers for their produce.

Lawyer, Another Arraigned for Alleged Forgery in Edo A legal practitioner, Smart Agbonlahor, 65, and one Uwangue Osaigbov, 55, were on yesterday arraigned before Ogbeson Chief Magistrate Court in Benin-city, Edo State, for allegedly forging the document of the Oba of Benin for land approval.

The duo were arraigned on

a two-count charge bordering on conspiracy and forgery.

The police prosecutor, Sergeant Kehinde Iyawe, said the defendants were charged in case number: MOGB/103c/2021 on July 19, 2021, on the Benin-Auchi road, Aduwawa, within the Oregbeni magisterial district,

for purportedly forging an approval by the then Oba Akenzua II dated April 15, 1966, for a land measuring 100feet by 200feet with beacon No N35/B, 46/B, 54/B, 55/B respectively, “knowing same to be false with the intention to claim ownership of the said landed property belonging to

Mr. Henry Okhuarobo,” who is the Majority Leader of the state House of Assembly.

The prosecutor said the offence contravened Sections 516 and 484 of the Criminal Code, Laws of the defunct Bendel State, 1976, which is now applicable in Edo State.

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THURSDAY, ͺ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

THURSDAYSPORTS TOKYO 2020 OLYMPIC GAMES

Nigeria’s Usoro, Ofili, Eight Others Disqualified over Missed Dope Tests

Favour Ofili (left) and Rosemary Chukwuma have been banned along with eight others

Annette Echikunwoke, Chidi Okezie, Chioma Onyekwerre, Rosemary Chukwuma listed among banned athletes Duro Ikhazuagbe As the track and field events of the ongoing Tokyo 2020 Olympic Games in Tokyo are scheduled to begin tomorrow, Nigeria’s dream of podium finish in some of the sports has run into troubled waters following the disqualification of the country’s 10 athletes by Athletics Integrity Unit (AIU).

Early hours of yesterday, Team Nigeria’s Camp in Tokyo was thrown into crisis when news of the disqualification of the 10 athletes was announced due to their missing the compulsory three Out of Competitions Test before arriving Japan for the Games.

The Athletics Integrity Unit is an independent body created by World Athletics that manages all integrity issues – both doping and non-doping.

It’s statement to all federations whose athletes were involved showed that a total of 20 athletes were declared ineligible with Nigeria being the most affected with 10 athletes.

Other countries affected include; Belarus, Ethiopia, Kenya, Morocco, and Ukraine.

The athletes were disqualified for not meeting the minimum testing requirements under

Rule 15 governing National Anti-Doping Federation.

The statement titled, “20 athletes not eligible for Tokyo 2020 as minimum testing requirements not met by ‘category a’ federations”, read in part: “Despite significant improvements in the domestic testing programmes in countries categorised as being the highest doping risk to the sport under the World Athletics Anti-Doping Rules (Anti-Doping Rules), 18 athletes from the final entries for the Tokyo Olympic Games are not eligible to compete because the minimum testing requirements under Rule 15 of the Anti-Doping Rules were not met by ‘Category A’ Federations.

Sadly, Nigeria was listed amongst countries AIU termed Category “A” in dope- risk nations.

“Nigeria is the most affected country, not meeting the minimum testing requirements under Rule 15 for 10 athletes.

“Nigeria was included in Category A at the start of 2020 following a continued period of weak domestic testing levels.

“Under the framework of Rule 15 governing National Federation Anti-Doping Obligations, which came into

force in January 2019, National Federations are accountable for ensuring appropriate anti-doping measures are in place in their respective jurisdictions.

“Among other things, the Rule sets out minimum requirements for testing on the national teams of ‘Category A’ federations deemed to have the highest doping risk and considered as a threat to the overall integrity of the sport.

“The key requirement in Rule 15 is that an athlete from a ‘Category A’ country must undergo at least three no-notice out-of-competition tests (urine and blood) conducted no less than 3 weeks apart in the 10 months leading up to a major event. Only then do they become eligible to represent their national team at the World Athletics Championships or the Olympic Games.

Although non of Athletics Federation of Nigeria officials could be reached to throw lights on why a whopping 10 athletes missed the tests, THISDAY checks however revealed some of the affected athletes to include; Ruth Usoro, Favour Ofili, Annette Echikunwoke, Chidi Okezie, Chioma Onyekwerre and Rosemary Chukwuma.

A former board member of the AFN who spoke with THISDAY on condition of anonymity insisted that the affected athletes didn’t dodge to avoid being tested.

“They didn't dodge to prevent being caught but unfortunately most of them are in students in America and Nigeria. Those in the USA don't test as it is not the responsibility of the NCAA

by AFN and the world body,” revealed the top official.

He attributed the infighting in the dissolved board of the federation to why the matter was relegated to the background.

“The Secretary General of AFN who ought to know was barred from the official email by the immediate past President.

Even when World Athletics wrote classifying Nigeria into Category ‘A’ we didn’t know until much later.

“The problem is that we got dragged into category ‘ A’ since 2019 and did nothing to exit it,” declared the top level track and field official last night.

With the disqualification of some of the athletes scheduled to run in the relays, handlers of Team Nigeria’s track & field must be scratching heads now on how to cope with those left in the pool.

D’Tigers’ Medal Prospect Varnishes with Defeat against Germany Nigeria senior men’s basketball team, D’Tigers, suffered a second consecutive defeat at the ongoing Tokyo 2020 Olympic Games after capitulating 99-92 to Germany in the early hours of Wednesday in Saitama, Japan.

The mostly NBA players dominated Nigerian squad played gallantly and looked like reversing their opening game loss to Australia, but they fell part in the third and final quarters of the game.

Trailing by three points in the first quarter which the Germans won by 24-21, the D’Tigers fought gamely and won the second quarter by 29-26.

With that, both sides were tied at 50-50 at half time. They went ahead to tie the third quarter at 24-24 taking the scores to 74-74 going into the

final quarter.

However, the final quarter that was going to be decisive for both teams turned out one D’Tigers gifted the Germans with too many missed three

pointers and free throws.

Nigeria at a time led with as much as twelve points but couldn’t do enough defensively to hold on till the buzzer. D’Tigers gave

Jordan Nwora’s 33 points earned early hours of yesterday was not enough to save D’Tigers from going down to Germany 99-92 to narrow Nigeria’s chances of making it to the quarter final.

PHOTO NAN

Amuneke to Train Coaches in Three Nigerian Cities Nigeria football legend, Emmanuel Amuneke, will embark on training for coaches in Lagos, Plateau and Imo states.

The former Barcelona and Super Eagles winger, who is a certified holder of UEFA Pro Coaching License, is determined to pass on knowledge to interested coaches in a two-week tour starting from Thursdayat Apapa, Lagos.

Interestingly, the venue for today’s event is closer

to home as the 1994 African Footballer of the Year grew up in Ajegunle popularly referred to as ‘AJ City.’

Amuneke, who is currently based in Spain, held a similar programme for upcoming coaches at the famous Federal Housing Authority (FHA) football field in Festac City, Lagos.

Speaking yesterday, Amuneke revealed: “I will be engaging with coaches in three cities in Nigeria and I’m looking forward to it.

I love sharing knowledge and there’s a lot in modern football to expose these coaches to.

“I hope the coaches come with an open mind to learn a lot because I’m prepared to bless them with some fantastic details about the latest techniques in modern coaching.”

Amuneke was in charge of the Golden Eaglets when they defeated all-comers to win the 2015 FIFA Under17 World Cup

away too many free throws from careless fouls which the Germans easily converted to advantage.

The duo of Miye Oni and Jordan Nwora led the scoring for Nigeria with their three pointers gathering 15 and 33 points respectively.

A late surge from D’Tigers was not enough as Germany got their first win of the competition.

Nigeria will next play Italy on Saturday with D’Tigers chances of qualifying for the next round appears dimmed.

The Germans face Australia at the same Saitama Super Arena on Saturday.

With two loses from two games both Australia and Germany are likely the two teams to pull through to the quarter finals with Nigeria and Italy settling for classification.

NPFL (MATCH-DAY 36) IFEANYIUBAH 1-1 AKWA UTD WIKKI 4-2 HEARTLAND LOBI STARS 1-1 ENYIMBA JIGAWA GS 1-1 W’WOLVES SUNSHINE 3-2 PLATEAU UTD KWARA UTD 1-0 PILLARS ABIA WAR’ 5-1 ADAMAWA DAKKADA 0-0 NASARAWA RANGERS 1-0 KATSINA UTD MFM FC 2-2 RIVERS UTD

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Calm Down, Team Nigeria’ll Win Medals, Says Ogba Former President of the Athletics Federation of Nigeria (AFN), Chief Solomon Ogba, has assured Nigerians that Team Nigeria would surely win medals at the ongoing Tokyo Olympics Games.

Following spate of failures

by Nigerian athletes and the basketball team, most Nigerians have become worried if Tokyo 2020 will not become another London 2012 when the contingent returned home empty handed.

Sports like Table Tennis, Taekwondo, Badminton, canoeing and swimming have seen Nigerian athletes kicked out thereby raising fears over the chances of the remaining ones.

"There is no cause for alarm. We'll get medals in athletics and wrestling. People should know that the day a yam is planted is not the

day it's harvested. 70% of Team Nigeria athletes made their debut at this Olympics.

They're freshers and young.

“They have been baptised and the future is bright for Nigerian sport. Nigeria will begin to reap from these athletes from the next Commonwealth Games,” observed Ogba.

He however explained that despite the fact that there are one or two setbacks in Athletics, he said that he was certain that Nigeria would join the medals table when track & field begins on Friday. " The girl in Wrestling( Odunayo Adekuoroye) is as good as Gold. She's focused and will make Nigerians happy. Nigerians should calm down for now,” concludes the sports administrator fondly hailed Igwe due to his deep knowledge of the sector.

NFF Assures S’Eagles, Coaches on Payment of Outstanding Bonuses The Nigeria Football Federation (NFF), yesterday assured stakeholders that all outstanding allowances of Super Eagles players and salaries of their coaches would be paid in due course.

NFF General Secretary, Dr Mohammed Sanusi, was reacting to an interview Super Eagles defender, Leon Balogun granted in which he confirmed that the players are been owed several outstanding bonuses just as the coaching crew are also yet to receive backlog of salaries since last year thus putting the federation in bad light in the eyes of the public.

But last night, officials from Sunday Dankaro House in Abuja explained that the challenges and disruptions caused by the global coronavirus pandemic are still being felt by government institutions and businesses the world over, and there was no need to pretend that these are normal times.

“The NFF deserves no joy in owing players and coaches their entitlements.

The same players and coaches have been welltaken-care of and provided the necessary facilities when things were normal, and as we work assiduously towards conquering the present challenges and seeing sunlight again.

“We expect the players, coaches and administrative staff to show the same level of understanding that they have been showing over the past 18 months.

“Of course, we are pragmatists and we realize that these things can be frustrating and some people will boil over and talk about them. It is normal.

“Last month, during the friendlies in Austria, we were able to pay some of the outstanding bonuses and allowances. We are working at a pace presently to clear what is remaining.

“As I speak, we are owing the team bonuses and

allowances from only the last two matches, and payments for these two games have been sent to the Central Bank some weeks ago. They will receive the monies shortly.

“We are equally working to pay the coaches what they are being owed as salaries,” the NFF scribe.

Dr Sanusi’s comments were in direct reference to a statement credited to Super Eagles’ defender, Leon Balogun on Tuesday saying the NFF was owing the players bonuses and allowances. “We have never denied owing the team.

Leon is a senior player that everyone respects for his quality output on the pitch and calmness and forbearance off it, but I do not know which reports he was referring to when he said the NFF was contradicting itself.

“He also talked about playing pitches. Sincerely speaking, the past few years has seen a remarkable improvement in stadia infrastructure across the country. The team had to move round the states because the turf of the Moshood Abiola National Stadium, Abuja got bad. Now, the pitch is coming back to shape thanks to the efforts of the present Minister of Youth and Sports Development, Chief Sunday Dare, who got the respected Alhaji Aliko Dangote’s company to work on it.

“Presently, we have exciting venues in Uyo, Benin City, Asaba, Kaduna and Lagos. Without the team moving round the states, the governments of these states probably would not have devoted much effort into putting these facilities in world-standard shape. There are remarkable improvements on facilities in Ibadan, the National Stadium in Lagos and a new one in Lagos. All these will benefit the teeming youth population of Nigeria who are interested in sports,” concludes Dr Sanusi.

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THURSDAY, ͺ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Brazil, Others Through to Q’finals, Germany Out Defending champions Brazil eased through to the quarter-finals of the men's Olympic football, but 2016 silver medallists Germany have been eliminated.

Everton striker Richarlison scored two late goals as Brazil beat Saudi Arabia 3-1 to finish top of Group D, with Ivory Coast second after holding Germany to a 1-1 draw.

In Group B, South Korea defeated Honduras 6-0 to qualify as group winners.

New Zealand drew 0-0 with Romania to finish second on goal difference.

Brazil looked set to be held to a frustrating draw when a header from Saudi Arabia defender Abdulelah Al-Amri cancelled out Matheus Cunha's early opener at the Saitama Stadium.

However Richarlison, who hit a hat-trick in Brazil's opening group game against Germany, edged them ahead

again with 14 minutes remaining before sealing the win in stoppage-time.

Germany needed to beat Ivory Coast to make it through, but fell behind midway through the second half when Benjamin Henrichs put the ball into his own net while attempting a tackle in the six-yard box.

Eduard Loewen levelled

MEN’S FOOTBALL with a free-kick six minutes later to set up a frantic finish, but despite piling on the pressure Germany could not find a winner.

Hosts Japan became the only side to win all three of their group games after thumping France 4-0 in Yokohama.

Goals from Hiroki Sakai, Takefusa Kubo, Koki Miyoshi and Daizen Maeda sealed the victory and set up a last-eight clash against New Zealand.

Mexico secured second place and will play South Korea next after a 3-0 win against South Africa, who lost all three of their group matches.

Egypt will play Brazil in the quarter-finals after a 2-0 win over Australia secured second place in Group C ahead of Argentina, who could only draw 1-1 with group winners Spain.

Argentina midfielder Tomas Belmonte scored a late equaliser to cancel out Mikel Merino's opener, but it was not enough to prevent Argentina from slipping to third and bowing out.

Spain, who end with five points from their three group games, face Ivory Coast in the quarter-final.

All four teams in Group B went into the final round of games level on three points each, but it was South Korea who progressed as group winners as a hat-trick from Hwang Ui-jo helped secure a 6-0 win over Honduras, with New Zealand joining them in the quarter-finals.

Murray Crashes in Q’final, Djokovic’s Medal Dream Alive Andy Murray's bid for an Olympic gold at a third successive Games ended as he and Joe Salisbury lost in the men's doubles quarter-finals in Tokyo.

The British pair lost 4-6 7-6 (7-2) 10-7 against Croatia's Marin Cilic and Ivan Dodig in the quarter-finals.

Murray, 34, and Salisbury, a doubles specialist who reached a career-high ranking of three last year, were playing their first event together.

Liam Broady was the final Briton to fall after losing in the singles.

The 27-year-old was a late call-up to the British squad after Dan Evans tested positive for coronavirus, and marked his Olympic debut with two victories including a fine win over Wimbledon semi-finalist

TENNIS Hub,ert Hurkacz in the second round.

However, beating France's Jeremy Chardy proved a step too far and he lost 7-6 (7-3) 4-6 6-1 in hot conditions at the Ariake Tennis Centre.

Serbia's world number one Novak Djokovic also moved into the quarter-finals and praised a decision by the International Tennis Federation (ITF) to move the start of play to 3pm local time from today.

Djokovic had been among the players to complain about the stifling heat and humidity, with matches having begun at 11am.

Russian second seed Daniil Medvedev had trouble with the conditions in his win over

Italian Fabio Fognini.

The 25-year-old took a medical timeout on court and called the trainer on two other occasions, and chair umpire Carlos Ramos asked Medvedev if he was all right during the second set.

"I'm fine. I can finish the match but I can die. If I die will the ITF take responsibility?"

Medvedev replied.

Murray, who won the singles at London 2012 and Rio 2016, pulled out of the individual event with a minor thigh strain to focus on the doubles.

The three-time Grand Slam singles champion forged an impressive partnership with 29-year-old Salisbury, who won his maiden major doubles title at last year's Australian Open.

Ogunbanwo Smashes Monu’s Nigerian Record

Abiola Ogunbanwo...smashed Ngozi Monu’s longstanding national records yesterday

Before 28 July 2021, no Nigerian woman had ever gone under a minute in the women’s 100m freestyle event.

That is no longer the case after Abiola Ogunbanwo, on Wednesday at the Tokyo Aquatics Centre, won Heat 1 of her favourite event in 59.74s.

Before yesterday’s feat, Ngozi Monu’s longstanding Nigerian record of 1:00.50, which had stood since 2007, served as the benchmark, but Ogunbanwo has now set a new standard.

Competing in the very first heat of the women’s 100m freestyle event, Ogunbanwo finished ahead of Andela Antunovic of Montenegro (1:00.01),

Nepal’s Gaurika Singh (1:00.11), and Mineri Gomez of Guam (1:04.00).

However, her finishing time was not good enough to take her through to the semis, as it was only the 50th best time in the event.

In the women’s 100m freestyle event, the time returned by competitors is all that matters in the heats, as only the fastest 16 swimmers get to advance to the semi-finals.

But Ogunbanwo can hold her head up high after adding the 100m national record to the 400m freestyle and 200m breaststroke national records she currently holds.

Murray

Bayern Reject Offers for Lewandowski Chelsea and Manchester City can chase all they like but Bayern Munich President, Herbert Hainer, has remained adamant Robert Lewandowski is going nowhere this summer.

The Premier League sides are both on the hunt for frontmen and the west Londoners were thought to be in pole position, having held talks with the Polish goal machine's agent.

Lewandowski might be the world's best striker right now, after a mind-blowing 48 goals in 40 games last season, but at 32-years-old he wouldn't have fetched the astronomical fees Erling Haaland and Kylian Mbappe will.

However, both Thomas Tuchel and Pep Guardiola will have to look elsewhere this summer, with Lewandowski set to complete the final two years of his Bayern deal.

'Firstly, in my opinion, Lewandowski is best striker in the world. We are so happy that we have him in our team,' Hainer told Goal.

'He still has two more years on his contract. He will definitely play those with Bayern Munch. I said it already a few weeks ago – I could imagine him staying with us for even longer. He will honour his contract.

'He will definitely play the next two seasons here in Bayern Munich.'

City's top target to replace the legendary Sergio Aguero has been Harry Kane, who is expecting to jump from the sinking ship of Tottenham in search of trophies.

However, with Daniel Levy and Co desperately hanging onto the England skipper by rejecting City's £100m bid, the champions have been forced to look elsewhere.

After their interest in Lewandowski now appears to have been shutdown, it's another Bundesliga target to be ruled-out of a move this summer – after Borussia Dortmund took the same stance with Haaland.

Europa League Returns to DStv, GOtv as New Season Kicks-off in August Football lovers on DStv and GOtv can look forward to the return of the UEFA Europa League, the second most important trophy in Europe after the UEFA Champions League, on SuperSport.

The Europa League and FA Cup will be exclusive to SuperSport adding to the best football viewing experience across the continent.

They will also be able to follow comprehensive coverage of the most loved football leagues with hundreds of games from the Premier League on DStv and select games on GOtv, as well as La Liga and Serie A matches on DStv and GOtv. Speaking on the upcoming season, Chief Executive Officer, MultiChoice Nigeria, John Ugbe, said: “Building on the euphoria of the 2020/21 football season and the Olympics tournament, we are excited to deliver world- class football to fans wherever they

watch, whether on television or on digital platforms.

“This season, we are delivering even more value to our DStv and GOtv customers.

We listened and have secured the rights to broadcast all the Europa League games live for the next three years. In so doing, we have further entrenched our position as the home of unbeatable football,” observed the MultiChoice Chief.

With the ongoing Tokyo Olympics, interest in the upcoming European football season is ramping up. With the best leagues that includes the Premier League, where Manchester City and Pep Guardiola will look to continue their dominance but are likely to face a renewed challenge from Liverpool, Chelsea and Manchester United, while England’s famed and beloved FA Cup remains an exclusive for SuperSport.

In La Liga, Atletico Madrid

will start as favourites to hold off the challenge offered by Real Madrid and Barcelona, but an exciting Sevilla side could be even more prominent in the title challenge, while the high turnover of coaches in Serie A makes their new season entirely unpredictable!

Internazionale are the reigning champions, but Juventus, Milan, Napoli, Lazio and a Roma side now managed by Jose Mourinho will all be gunning for the Scudetto in 2021-22.

Football is about connection. Sharing it with friends and family makes ‘The Beautiful Game’ even more meaningful. And in no competition is this more applicable than the UEFA Champions League and the UEFA Europa League, the ultimate expression of the club game in Europe that has become the true measure of the greatest players and teams.

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MISSILE Baba-Ahmed to Politicians “What are you going to do with 2023? between now and 2023, APC would have completely wrecked this country. You are going to take over a country that has been completely destroyed by a party that has been substantially produced by the PDP. What’s your blueprint for what happens to Nigeria in 2023?”

– Northern Elders Forum Publicity Secretary, Dr Hakeem Baba-Ahmed on the state of the nation.

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26 years

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

The Tragedy at Ebeano Supermarket

W

hen I first saw Ebeano Supermarket along the Lokogoma axis of Abuja a few years ago, I told myself I would seek out the CEO for a chat on what I considered a remarkable story of business success. That I have not been able to do so is regrettable considering the recent fire incident. As a resident of Abraham Adesanya Estate, Ajah in Lagos between 2002 and 2007, Ebeano Supermarket at Ikota Shopping Complex, VGC, was the place of choice for my family to buy toiletries and essential household items. Before I come to the recent inferno which razed their multibillion Naira store in Abuja, and the tragedy of a nine-year old girl caught on camera igniting the fire, I want to rehash the story of the CEO from what I can pick online from his documented recollection.

Born in February 1971 at Agbor, Delta State, David Chukwuma Ojei graduated with a Second Class (Upper Division) degree in accountancy from the University of Nigeria, Nsukka in 1995. He completed his mandatory National Youth Service Corps (NYSC) primary assignment in Jigawa Sate the following year. After failing to secure employment at Zenith Bank, GTBank and FBN Merchant Bankers where he wrote aptitude tests, Ojei eventually got a job at a security company with a monthly salary of N7,000. From that meagre sum, he was able to save enough to set up a barber’s shop to augment his income.

In June 1998, Ojei decided to venture into trading by travelling to Fuga in Edo State to buy ‘Ogbono’ seeds which he then resold in Lagos. That business reportedly ended when the Fuga supplier duped him.

But the experience also taught him that he needed to learn the rudiments of trading.

For a period of three months, he went to understudy his uncle, Sunday Egede, who traded provision items. It was after that apprenticeship that Ojei established his first shop in 1999 at Shomolu, Lagos State. Operating with the trading name ‘Ebeano Supermarket’, he moved from Shomolu to open another shop in Gbagada and from there to Ikota in VGC. In 2009, Ojei formed a 50-50 partnership with his uncle, Sunday Egede, to establish the Prince Ebeano Supermarket chain of retail stores.

Although I never interacted closely with Ojei when we patronized his Ikota supermarket, the moment I saw the huge Ebeano Supermarket in Abuja, I was eager to meet him so he could share his experience on this page. Such stories not only inspire, but they also confirm the endless possibilities that abound for those who can dream big, even within our environment. And we desperately need such people in Nigeria today.

One of the tragedies of our country is that we no longer promote entrepreneurship, nor do we support or encourage the few who dare. Impediments are being placed along their paths by unfriendly government policies at a time we are desperately in need of jobs. And because of that, millions of our young people are graduating from schools into frustration with too many of them going into crime or voting with

Ojei their passports.

Meanwhile, I will not be surprised if I receive letters from readers who may feel disappointed that I am ignoring ‘serious issues’ to write about the travails of supermarket owners. With the trial in Cotonou of Sunday Igboho, the Abuja judicial fiasco between DSS and Nnamdi Kanu, the ‘Fatwa’ on Fulani-Bororo by the Emir of Muri, the tragic drama of Niger State bandits who collected N50 million ransom for the abducted Tegina students only to also detain the emissary without releasing their victims etc., I can understand those who may feel that way. But the challenge of livelihood in Nigeria today makes the issue of the Ebeano fire and entrepreneurship also very important.

In a report, “Of Roads Less Travelled: Assessing the Potential for Migration to Provide Overseas Jobs for Nigeria’s Youth” released last weekend, the World Bank estimated that the unemployment situation in the country has pushed the number of asylum seekers from Nigeria to scandalous figures in ten years. The evidence is there for all of us to see. With booming demography, collapsed physical and social infrastructures etc., most of our young professionals have become easy targets for recruitment by many countries in Asia, Europe, and the Americas. The gradual collapse of the global oil regime and the cascading value of our national currency have only worsened the situation.

The statistics that stare us in the face today as a nation are quite frightening as millions of our young people roam the streets, with no clear future. Which is why we need to devise smart regulations and necessary incentives to encourage job creation that is sustainable. When it comes to possible long term solutions for unemployment, according to the International Finance Corporation (IFC), the “private sector—which provides about 90 percent of jobs in developing countries—offers an excellent starting point.”

Even at the best of times, the business

environment in Nigeria was characterized by policy inconsistencies, bureaucratic bottlenecks, political interference, and lack of basic infrastructure, including electricity. To compound the problem, the general insecurity in the country has engendered a situation in which people in rural communities can no longer engage in subsistence farming with dire implications for food security. While these are the kinds of issues that should engage national attention, the ongoing discussions are essentially about 2023 and the usual cold calculations. At a period that we need to encourage those who have the acumen to create wealth and can help to put our people to work, there is inordinate obsession with politics. Yet the kind of politics we practice in Nigeria does not advance any ideal nor address the welfare of the majority. If it does, greater attention will be paid to how to encourage businesses, big and small, that will engage many of our young people who, out of idleness, now spend their productive hours watching Ebuka and some pretty Maria on Big Brother Naija!

Going by the Nigeria Country Report of The Economist Intelligence Unit released on 20th July, the 2021 to 2025 projections for our country are quite troubling while “the near to medium-term outlook is made more uncertain by the scars of recession in 2020 and rising unemployment (at about 33%—one of the highest levels in the world) and poverty.” Sadly, these are issues that hardly command serious attention in a country where fixation is almost always about where the president should come from and what religion he (always he by most reckonings) should profess. The greater shame is that we refuse to wean ourselves of the obsession with oil. Thanks to my friend, Waziri Adio, I yesterday read again that timeless March 2012 article, ‘Pass The Books. Hold the Oil’, by respected American journalist, writer and three-time Pulitzer Prize winner, Thomas Loren Friedman.

It is something I will recommend to our policy makers.

In my December 2019 column, ‘Illusion of a Food Pack Economy’, I alluded to the current challenge. I borrowed from the ‘2019 Nigeria Economic Update Report’, to make my point. In the report, the World Bank had projected that our country could be home to 25 per cent of the world’s destitute people within the next decade if government, at all levels, fails to revive the economy and create jobs.

“With population growth (estimated at 2.6 per cent) outpacing economic growth in a context of weak job creation, per capita income is falling. Today, an estimated 100 million Nigerians live on less than $1.90 per day.” That report predated the Covid-19 pandemic and the havocs it has wrought so one can only imagine what the projection would be today.

To support businesses that will create jobs, taxation should never be the priority.

But with dwindling oil money, the Federal Inland Revenue Service (FIRS), as well as the tax authorities in the states and the touts employed by the local governments are on a crazy revenue drive. Once you begin a business, they will harass you to

pay all kinds of taxes and levies. And to demonstrate that there is no strategic thinking going on, you now hear of a plan to increase the Value Added Tax (VAT) to 15 percent. Since VAT is a regressive tax usually paid in the value chain, any increase, no matter how small it may seem, is a further squeeze on consumer disposable income in Nigeria. The businesses it will impact most are the Micro, Small and Medium Enterprises (MSMEs). Yet, if we are ever to take our young people off the streets by getting them productively engaged, these are the businesses we need to grow.

Unfortunately, impediments to entrepreneurship in Nigeria do not only come from the government. Given what happened at the Ebeano Supermarket in Abuja, we now must include deliberate sabotage from society. In a closed-circuit television (CCTV) footage that has gone viral, a girl (whose age was later put at nine) could be seen walking to a section of the supermarket where gas cylinders and electric cookers were kept. She picked up a lighter, ignited an item and walked a distance away, evidently to confirm that the process she had set in motion was on.

She then moved out of the building. Also in circulation are CCTV footages, including when she arrived the supermarket with two ladies, how the three mingled with the crowd, watching the building go up in flames as fire fighters arrived and the ‘interrogation’ of the girl by some men in a dingy room.

I commiserate with both Ojei and Egede for their loss. But the Ebeano tragedy should teach supermarket owners in Nigeria some important lessons. Installing CCTV cameras is not enough. There must be someone in the monitoring room. If Ebeano had such a person, they would have picked up the girl’s mischief and reacted immediately. Besides, a smoke detector would have alerted attendants the moment the fire went up and a timely reaction could have saved the day. There was no indication that the supermarket had any because no alarm was triggered by the fire. I am also not sure there were industrial fire extinguishers or water sprinklers that could have helped to mitigate the disaster. These and other lessons should not be lost to business owners in Nigeria.

Meanwhile, the handling of the case has been, to put it mildly, unprofessional. The recorded questioning of the child who lighted the fire is shameful. Subjecting a nine-year old girl to a media trial is abhorrent and irresponsible. Aside the insensitivity, such predisposition explains why crimes are never resolved in our country. From Evans to Chidinma, some people just enjoy entertaining the public without obtaining justice for victims. The Ebeano Supermarket fire incident deserves a thorough investigation to ascertain whether the little girl was doing the bidding of someone. And her mental state must also be evaluated. It is not normal for a nine-year-old girl to carry out such an egregious act, and in the furtive (indeed stealth) manner she did it.

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