FRIDAY 4TH SEPTEMBER 2020 by THISDAY Newspapers Ltd

FG Bars EU Airlines, BA, Emirates, Others Good to Go

Ticket sales surge ahead of resumption of international flights NCAA, NAMA issue notice to foreign airlines

Olawale Ajimotokan, Onyebuchi Ezigbo in Abuja and Chinedu Eze in Lagos Ahead of the September 5 date for the resumption of international flights, the

federal government has listed Air France, KLM, Lufthansa, Etihad Airways, Angolan TAG, Air Namibia and Royal Air Maroc, as foreign airlines that are not approved to operate flights into the country.

The demand for tickets for foreign trips has, however, surged as travellers eagerly await to resume their international engagements. This is coming as the Nigerian Civil Aviation

Authority (NCAA) and the Nigerian Airspace Management Agency (NAMA) have issued Notice to Airmen (NOTAM) to all airlines flying into and out of Nigeria and other stakeholders ahead of

resumption of international flights. Speaking yesterday during a briefing of the Presidential Taskforce (PTF) on COVID-19 at the Nnamdi Azikiwe International Airport (NAIA),

Abuja, the Minister of Aviation, Senator Hadi Sirika, said only the NAIA and the Murtala Muhammed International Airport, Lagos, would reopen Continued on page 10

States to Retain Tax Reliefs till June 2021... Page 8 Friday 4 September, 2020 Vol 25. No 9278. Price: N250

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COVID-19: Finally, Schools Get Approval for Phased Reopening Curfew now 12am to 4am Olawale Ajimotokan and Onyebuchi Ezigbo in Abuja After a six-month closure as a precaution to curb the spread of COVID-19, the

federal government yesterday approved the gradual reopening of educational institutions. It directed state governments and school administrators to

Buhari extends PTF mandate till December 31 start making preparations for the full reopening of schools and also reviewed the 10 pm -to-4am curfew to now start from 12 am to 4 am. President Muhammadu

Buhari has also approved the extension of the six-month mandate of the Presidential Task Force on COVID-19 (PTF), due to expire on September 17 till December 31.

The National Coordinator of the Presidential Taskforce on COVID-19, Dr. Sani Aliyu, told reporters in Abuja that the task force recommended a phased return of students

to classrooms. He said: â&#x20AC;&#x153;For educational institutions, which include daycare, primary, secondary and Continued on page 12

In Saving Economy, FG Says Fuel Subsidy Gone for Good Explains oil price will determine cost of petrol Urges Nigerians to embrace alternative to petrol Mulls resource-backed borrowing plan Emmanuel Addeh in Abuja The federal government yesterday foreclosed reinstating the fuel subsidy regime as outrage grew over the hike in ex-depot price of petrol that jacked up the pump price from between N145 and N148 per litre to N158-N162 band. It defended the fuel subsidy removal, saying it constituted a drain on the countryâ&#x20AC;&#x2122;s meagre resources. Under the fuel subsidy system, the commodity is

retailed at a price lower than the landing cost with the federal government paying the differential, which runs into billions of naira. Amid the outcry over the new price regime, the federal government said the cost of the product would henceforth be determined by the vagaries of the international crude oil market, stressing that incurring further costs on under-recovery has now been Continued on page 10

Nigerian, Ghanaian Officials Hold Talks to End Diplomatic Spat... Page 5

FIFTY-TWO WEEKS IN THE SADDLE... Ogun State Governor, Prince Dapo Abiodun, during a courtesy visit to the Presidential Villa, Abuja...yesterday

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

Nigerian, Ghanaian Officials Hold Talks to End Diplomatic Spat Gbajabiamila seeks review of law on $1m business capital

Adedayo Akinwale and Udora Orizu in Abuja Nigeria and Ghana yesterday began talks to cement cracks in their bilateral relations owing to the diplomatic crisis between them arising from the alleged maltreatment of Nigerians in Ghana. Senior government officials from both countries have met in Abuja as part of ongoing efforts to resolve the diplomatic crisis. Also, House of Representatives Speaker, Hon. Femi Gbajabiamila, has called on Ghanaian authorities to revisit the law that requires a capital base of $1 million for businesses by foreigners, saying as Africans, Ghana should encourage brotherliness. The spokesperson of the Ministry of Foreign Affairs, Mr. Ferdinand Nwonye, said in a statement that the delegations of both countries had a successful bilateral engagement on improving Nigeria, Ghana relations. However, the statement was silent on the details of the meeting. Nwonye said: "The Ministry of Foreign Affairs wishes to inform that a delegation of senior Ghanaian government officials led by Hon. Allan John Kyeremanteng, Minister for Trade and Industry, arrived Abuja, today (Thursday), 3rd September 2020 to hold a discussion with their Nigerian counterparts. "Other members of the Ghanaian delegation include Hon. Kojo Oppong Nkrumah, Minister for Information and Hon. Mohammed Habibu Tijani, Deputy Minister for Foreign Affairs and Regional Integration." The Nigerian delegation to the meeting was led by the Minister of Industry, Trade and Investment, Chief Adeniyi Adebayo. Others on the delegation at the meeting were the Minister of Information and Culture, Alhaji Lai Mohammed, and

the Minister of State for Foreign Affairs, Ambassador Zubairu Dada, among others. As a step towards the improvement of bilateral relations between both countries, Gbajabiamila, who was on a two-day troubleshooting mission to Accra, urged Ghana to revisit the law that requires a capital base of $1 million for foreigners' businesses, saying as Africans, Ghana should encourage brotherliness. The speaker, at a meeting with Ghanaian lawmakers and some top government officials advocated an amicable settlement of trade disputes through arbitration and fair judicial processes. He said he would be glad to champion a law to improve the bilateral trade relations between Nigeria and Ghana. Gbajabiamila said Nigeria and its people are worried by the challenges that Nigerian traders face in Ghana and called for an urgent action to end the hostilities. He added that at a time the world is battling the COVID-19 pandemic and the economic impacts, this is not a time for conflict and disagreements, but a time for partnership and solidarity. He said: ''We do believe that while it is the sovereign right of the government of Ghana to pass and implement the GIPC Act, we would implore you to explore alternative and less aggressive options of engaging, sanctioning and relating with our traders and business people who operate in your country, pay taxes and contribute to the development of both our nations. "Secondly, we would encourage you to revisit the component of the law that requires a capital base of $1,000,000. We are all Africans; we all have towns and villages, and we know only too well that majority of our traders across the continent are petty traders. The prospect of them being able to raise a capital base

of $1,000,000 before they can trade in goods that may be worth less than $1,000, clearly is a major challenge. "Thirdly, one of the things we are all proud about and the common surname that we all bear is â&#x20AC;&#x2DC;ECOWASâ&#x20AC;&#x2122; and as you know, by the virtue of being ECOWAS countries, our nations and our citizens should be able to live, work and thrive in any of our nations without any form of hindrance or discrimination. "It is in this light we would encourage that we explore how the principles and the application of ECOWAS protocols - which we are both signatories to - may perhaps conflict with the application of the GIPC Act, especially vis-Ă -vis the recent adoption of the African Continental Free Trade Agreement (ACfTA) by

African nations; and also the movement towards single currency in the West African sub-region." He urged the legislatures of both countries to embrace legislative diplomacy to assist the executive branches of Nigeria and Ghana to resolve the diplomatic row. "I for one would be willing to champion a law that helps to improve the bilateral trade relations and reciprocal legislation between our two countries and in this regard, we would like to explore the possibility of jointly passing what we could potentially call a Nigeria-Ghana Friendship Act - or something in that line, which will help to cement into law the good relations between our countries and also create a legal framework for further camaraderie that will enable us to ensure that,

when it comes to Nigeria and Ghana, our laws will support efforts to improve relations, trade and positive and friendly interactions between our citizens, institutions and our governments. "The escalation of the tensions between our citizens and our nations is nothing for either of our countries to be proud of. And therefore, as I said today at the Nigeria High Commission, it is important that we leaders ensure that our utterances and our actions; and what is reported in our media do not fan the flames of conflict and confrontation, but instead, fuel the possibilities of first de-escalating tensions; finding constructive options for resolution; and working together to effectively implement those solutions, both here in Ghana as well as in Nigeria," he added.

The Ghanaian Minister of Trade and Industry Hon. Alan Kyeremateng, said there are many Ghanaians and Nigerians who are going about their lawful duties without difficulties. According to him, ''The incidence that has occurred where some shops were locked up must have arisen out of situations where there were clear abuses of the application of the laws. I was happy that the Nigerian Speaker of the House of Representatives mentioned that if they are doing legitimate business, please allow them as brothers and sisters to continue to do so. I want to give you that assurance that that will be the case. Anybody engaged in business, trading, doing the rightful things, they must have no difficulties.''

MR. LECTURER... Vice President Yemi Osinbajo (SAN) delivering his keynote remarks at a webinar organized by The Gavel International in Abuja...yesterday

Malami: We Have Learnt Lessons from P&ID $9.6bn Judgment Alex Enumah in Abuja The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), said yesterday, that the federal government had learnt lessons from the $9.6billion arbitral award delivered by a London arbitration panel against Nigeria and in favour of P&ID Limited. Malami expressed the determination of the federal government to make Nigeria a hub for arbitration, as part of lessons learnt from the dispute. According to Malami, â&#x20AC;&#x153;The whole saga associated with P&ID contract was a product

of corruption, fraud and noncompliance with processes and procedures.â&#x20AC;? A statement issued yesterday by Malamiâ&#x20AC;&#x2122;s spokesperson, Dr. Umar Gwandu, quoted the minister as speaking at a virtual international conference to mark the African Arbitration Day. Gwandu stated that the event was organised by British Institute of International and Comparative Law, Babcock University and the School of International Arbitration, at Queen Marry University of London. The federal government is currently battling to have the

London court to set aside the arbitral award, which Nigeria incurred following an alleged breach of a 2010 gas supply contract between it and the British Virgin Island firm. Malami said: â&#x20AC;&#x153;The greatest lesson that is apparent arising from this is to put our house in order by way of ensuring that we have in place standard operating procedures relating to each and every agreement that has the potential of affecting our national economy and national interest and ensure that the stated standard operating procedures are followed at the end of the day and ensure that there are consequences for

corrupt practices relating to the officials of the government that are saddled with the responsibility of processing agreements and ensuring at the end of the day that due processes and procedures are complied with. â&#x20AC;&#x153;It is the component of tightening our situation within the context of compliances to procedures and ensuring that there are consequences for wrongdoings associated with officers that are found wanting or perhaps compromising along the line.â&#x20AC;? Malami said the government is determined to see what can be done in terms of encouraging the choice of

Nigeria as a seat of arbitration â&#x20AC;&#x153;so that what we are doing in terms of strengthening our arbitration and arbitral processes and proceeding are strengthened within the context of making us a hub of arbitration proceeding within the African continent.â&#x20AC;? He said Nigeria has two arbitration centres in Abuja and Lagos that are fully equipped and provide all the services required of an arbitration centre. The minister noted that Arbitration and Conciliation Act (ACA) 1988 Cap A18, Laws of the Federation of Nigeria 2004 is the National Law Governing Arbitration

in Nigeria believing that Nigeriaâ&#x20AC;&#x2122;s legal literature and jurisprudence, as it relates to arbitration, has substantially developed. Malami said Nigeria has elaborate rules on arbitration as an alternative to litigation, adding that Nigeriaâ&#x20AC;&#x2122;s arbitral rules are consistent with the prevailing best practice situation in Africa and the world. He said Nigeriaâ&#x20AC;&#x2122;s economic power in Africa now makes it imperative for the country to keep resolving investment disputes through arbitration in order to make Nigeria an investment hub of the continent.

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States to Retain Tax Reliefs Till June 2021 Chuks Okocha in Abuja The governors of the 36 states of the federation have resolved to retain till next year the tax relief measures put in place in their states to lessen the burden of the COVID-19 pandemic on the economy. Also, with the expected winding up of the six-month activities of the Presidential Task (PTF) on COVID-19 by September 17, the governors have decided to provide leadership for the COVID-19 responses in their respective states by ramping up risk communications activities and community testing for the pandemic. However, President Muhammadu Buhari has just extended the lifespan of the task force to December 31. Theses resolutions formed part of the outcome of the 16th teleconference meeting of the Nigeria Governorsâ&#x20AC;&#x2122; Forum (NGF) held on Wednesday. According to a communiquĂŠ of the meeting, which was issued yesterday and signed by its Chairman and Governor of Ekiti State, Dr. Kayode Fayemi, â&#x20AC;&#x153;All state

governments through their Internal Revenue Services (IRS) will ensure the seamless implementation of tax relief programmes for businesses and tax payers. â&#x20AC;&#x153;These programmes, which were released in some states since March 2020, are designed to reduce the financial burden of taxpayers in the country up till 2021 in some cases.â&#x20AC;? The forum also resolved to work, through its subcommittee interfacing with the PTF on COVID-19 to address concerns raised by states on the reception of new inmates amidst measures taken to curtail the spread of COVID-19 in correctional facilities. â&#x20AC;&#x153;The forum resolved to provide leadership to the COVID 19 response in their respective states by ramping up risk communication activities and community testing for COVID-19,â&#x20AC;? the communiquĂŠ added. The forum called on state governments to nominate focal persons that will interface with the Ministry of Petroleum Resources on the actualisation of the National

Gas Expansion Programme (NGEP). The Minister of State for Petroleum Resources, Mr. Timipre Sylva, had addressed the Forum in July 2020 on the NGEP, which is designed as a catalyst for Nigeriaâ&#x20AC;&#x2122;s vast natural gas reserves. The plan is intended to spur revitalisation across gas-based industries in fertiliser, methanol, textiles and feedstock for industries among others. The forum urged governors to maintain vigilance to ensure that the structures put in place for routine polio immunisation are not jeopardised by the COVID-19 pandemic in the light of Rotary Internationalâ&#x20AC;&#x2122;s recognition of the forumâ&#x20AC;&#x2122;s

role in ending the polio pandemic in the country. It commended the World Bank for the new initiative to support the states in updating their property records. The forum noted that some states are already in advanced stages of developing a geographic information system (GIS) that will help them gather, manage and analyse geospatial data both for spatial planning and property taxation. The NGF Legal Committee, led by its Vice Chairman and Sokoto State Governor, Hon. Aminu Tambuwal, updated members on consultations with the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar

Malami, to resolve concerns on the implementation of the Executive Order Number 10 seeking to enforce autonomy for states' legislature and judiciary. According to the committee, a technical committee, comprising members from all parties, has been working to finalise an acceptable framework for the implementation of the executive order. Also, the Chairman of the NGF sub-committee interfacing with the PTF on COVID-19, Governor of Delta State, Senator Ifeanyi Okowa, updated the forum on the importance of continued and increased testing in all states as the economy reopens. Okowa called on states

to take ownership of the COVID-19 response, especially with the expected winding up of the PTF. He noted that â&#x20AC;&#x153;low testing rates at any time will make it difficult to track the correct status of the pandemic in the country thus making it difficult to make important decisions like the opening of schools, NYSC camps, holding elections, etc.â&#x20AC;? Fayemi also provided an update on the disbursement of the Basic Health Care Provision Fund (BHCPF) facility to eligible states as approved by the Ministry of Health to safeguard government interventions in primary healthcare service delivery during the pandemic.

Ize-Iyamu to Tackle Sexual Assault, Says Wife Adibe Emenyonu in Benin City Wife of the governorship candidate of the All Progressives Congress (APC) in Edo State, Prof. Idia Ize-Iyamu, has said her husband, Pastor Osagie Ize-Iyamu, plans to establish a special victims unit to combat sexual assault and care for survivors of rape and other gender-based violence if elected as governor on the 19th of September. She disclosed this on Thursday while featuring on a popular morning show, Your View, on Television Continental. The professor of Orthodontist, who recently flagged off a free medical outreach across the three senatorial districts of Edo State to provide access to quality healthcare to residents of communities lacking health centers and personnel, said her husbandâ&#x20AC;&#x2122;s administration will prioritize the healthcare and empowerment of vulnerable groups in the state. Describing herself as an empowered woman, Idia praised her husband as a compassionate man who is a strong believer in the capacity of women to inspire change in the society and contribute to growth and development when provided with an enabling environment and offered the right support. She recounted his continuous support and encouragement in her journey to being a Professor following their marriage in 1992 when she had just completed her university education. Idia said: â&#x20AC;&#x153;I am an empowered woman because my husband, Pastor Osagie Ize-Iyamu, supported me all the way. I had just completed my university education when we got married and he told

me not to rest on my oars. He actively supported me in my academic journey to becoming a Professor.â&#x20AC;? â&#x20AC;&#x153;At a time in my career, I had to go for posting for two years, and my husband not only allowed it, but also made sure I had all that I needed. There were times when the cost of research became a challenge, as you know funding for research in this part of the world is almost non-existent, and my husband would ask how much I needed to complete my research and provide the funds.â&#x20AC;? â&#x20AC;&#x153;Even when I grew tired, he encouraged me and gave me the moral support to continue publishing. He always reminded me of the mantra â&#x20AC;&#x2DC;publish or perishâ&#x20AC;&#x2122; and encouraged me to keep going.â&#x20AC;? She expressed confidence that Ize-Iyamu has plans to offer similar support and empowerment to all Edo women in their chosen endeavours if he emerges as the Governor. When quizzed on her husbandâ&#x20AC;&#x2122;s involvement in politics as a clergy, she stressed the importance of having righteous and honest leaders in political office, quoting the Bible book of Proverbs which says â&#x20AC;&#x2DC;when the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn.â&#x20AC;&#x2122; She, however, clarified that her husbandâ&#x20AC;&#x2122;s spirituality and proven integrity are not his only strong suits, but also his wealth of experience in public service as a former Chief of Staff and Secretary to the State Government, as well as his credentials as a homegrown politician who knows the true problems of the people and the right solutions to them.

THE GENERALâ&#x20AC;&#x2122;S VISIT... General OďŹ&#x192;cer Commanding 6 Division, Nigerian Army, Maj, Gen. Johnson IreďŹ n (left), and Akwa Ibom State Governor, Mr. Udom Emmanuel, during the army chiefâ&#x20AC;&#x2122;s visit to the governor in Uyoâ&#x20AC;Śyesterday

Buhari to Unveil New Economic Plan in December James Emejo in Abuja

The Minister of State for Finance, Budget and National Planning, Prince Clem Agba, yesterday disclosed that the Medium-term National Development Plans (MTNDP) 2021-2025, will be launched by President Muhammadu Buhari in December. He also said the second MTNDP (2026 â&#x20AC;&#x201C; 2030) report is due in February 2021 while final development blueprint for the Nigeria Agenda 2050 will be ready in July next year. Speaking at a press briefing on the update for the development plans which are currently being drafted by relevant stakeholders, the minister said the job was being fast-tracked to ensure that annual budgets, particularly 2021 appropriation is derived from the medium-term plans. He said as a result, in preparing the Medium Term Expenditure Framework (MTEF) being used for the preparation of the 2021 budget, which was approved by the National Assembly,

the fundamentals of the macroeconomic framework for the medium-term plan 2021 â&#x20AC;&#x201C; 2025 were brought into focus. Agba added that the macroeconomic indices used for the development of the Economic Sustainability Plan of N2.3 trillion stimulus package to hedge the economy from sliding into deep and prolonged recession due to the impact of COVID-19 had been integrated into the MTNDP. He pointed out that the steps were all taken to ensure that, henceforth, annual budgets are derived from national development plans, to foster plan discipline in successive years. He also said that the federal government intended to deepen consultations with sub-national governments to ensure that plan discipline is entrenched in the system, if the country is to make the desired changes in the economy. The minister said that the macroeconomic framework and growth diagnostic technical working group

(TWG) had after three months and two weeks of tedious and rigorous work produced a macroeconomic framework report, which had been shared with the central working group and presented to the remaining 25 TWGs to guide the ongoing work on their thematic areas. He said work had reached an advanced stage on the finalisation of the long term models adding that it will be used for projections for macroeconomic and development blocks of the Agenda 2050. The minister said the federal government is committed to producing truly national development plans and not just federal government plans, pointing out that six state governors, one from each of the six geopolitical zones, the representatives of major political parties are involved at the steering committee level for the development of the plans. He noted that at the moment, efforts are ongoing to also engage the grassroots through the states and the

local government in the planning process which shall take place via town hall meetings where memoranda from town development associations and traditional rulers shall be received to deepen engagement, participation and ownership. Agba said: "In addition, we are looking forward to developing an inclusive and participatory national Plan that is sufficiently comprehensive with the capacity to accelerate the attainment of various regional and global agendas, including the AU Agenda 2063, ECOWAS integration Agenda and the Sustainable Development Goals 2030." With the terminal dates for the existing Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP) due in December- and to avoid a vacuum- Buhari had approved and directed the Federal Ministry of Finance, Budget and National Planning to prepare successor plans from which government could derive its policies going forward.

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PAGE TEN IN SAVING ECONOMY, FG SAYS FUEL SUBSIDY GONE FOR GOOD stopped permanently. The government also noted that the pursuit of a policy of transparency and accountability was being entrenched in the Nigerian National Petroleum Corporation (NNPC), saying that in the next few months, aside from the recent published accounts of its subsidiaries, the corporation will release its groupâ&#x20AC;&#x2122;s audited accounts to the public. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who spoke from Abuja during a web seminar organised by the Extractive Industries Transparency Initiative (EITI), explained that all the decisions were geared towards weathering the current headwinds posed by the COVID-19 pandemic. Also, the Group Chief Financial Officer, Trafigura Group Ltd., Mr. Christophe Salmon; Director, Fiscal Affairs Department, International Monetary Fund (IMF), Mr. Victor Gasper; and Policy Analyst, Commodities and Finance, Public Eye, Ms Anne Fishman, participated in the EITI seminar series, tagged: â&#x20AC;&#x153;Sustainable Debt or Pending Threat? Why Transparency Matters for Resource-backed Loans.â&#x20AC;? Ahmed also said the federal government was considering borrowing through the resourcebacked plan, but added that it was taking into account all the risks associated with it. She said: â&#x20AC;&#x153;Our country Nigeria is going through a difficult economic period because of the crisis of the COVID-19 pandemic. This same crisis has also given us the opportunity to undertake some reforms that have been very difficult to carry out in the past. â&#x20AC;&#x153;In general, we have

developed a fiscal stimulus package of N2.3 trillion, about $5.9bn multi-sectoral economic plan. The design is to be able to minimise the impact on the economy, to prevent contraction of the economy and prevent businesses from collapsing and also to protect the poor and vulnerable. â&#x20AC;&#x153;Specifically, in relation to the extractive industry, we took the opportunity to remove fuel subsidy that has been a significant drain on our resources and on the economy. â&#x20AC;&#x153;This we have been able to do by adopting a price modulation mechanism and the government has removed fuel subsidy provision from its revised 2020 budget and also from the Medium Term Economic Framework (MTEF) for 2021-2023. We don't have plans to incur any expenditure on fuel subsidy. â&#x20AC;&#x153;What that means is that the price of refined products PMS (petrol) will be determined by the global price of crude oil, so the price will keep changing according to how the global market operates.â&#x20AC;? Ahmed stated that another reform was to get the NNPC, which had hitherto not been able to publicly audit its financial statements, to do so. She added that the federal government was also making its debt obligations more transparent for international partners. â&#x20AC;&#x153;The NNPC has for the first time in several years been able to publish the audited financial statements of all its subsidiaries,â&#x20AC;? she said, adding: â&#x20AC;&#x153;And it is on course also to publish its own corporate and group financial statements in the next couple of months.â&#x20AC;? She said this was very significant because it would give the country and its partners

the opportunity to really look into the operations of the national oil. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s now one of the EITI partners. The pandemic has dried up resources and increased spending on healthcare. This means we have had to borrow more because of the decline in revenue and investment in healthcare,â&#x20AC;? Ahmed said. On resource-backed borrowing, she noted that aside the NNPC involved in forward sales of crude oil with international partners, the governmentâ&#x20AC;&#x2122;s current borrowing is not tied to its resources. According to her, â&#x20AC;&#x153;But until now, we have not borrowed using our resources to back our borrowing. We have not had any resource-backed loan as at today. But the NNPC from time to time in its trading businesses does get involved in forward sales with its partners. â&#x20AC;&#x153;That is not to say that there is something fundamentally wrong with having resourcebacked loans; in fact, that is an area we are closely looking at right now to improve on our ability to be able to provide liquidity in our economy. â&#x20AC;&#x153;But we have to make sure that it's carefully designed and structured and we have also made a global commitment to the IMF and the World Bank as we reach out to them for concessioning financing and we will be continuously working to improve on our debt transparency. â&#x20AC;&#x153;For resource-backed loans, the major challenge is the volatility in oil price - also the risk of lack of transparency in the production volume that will be used to service the loans. â&#x20AC;&#x153;If such an undertaking has to be made, the structure will have a framework that shows visibility of volumes being lifted.

Of course, if you go into such financing, you know that the major risk is price because you have made a commitment to pay a certain amount. So, you need a de-risking impact. It is something we are considering, but we have not gone into it." Ahmed assured stakeholders that the government will continue to push the NNPC to improve its transparency. Reuters also quoted the Minister of State for Petroleum, Mr. Timipre Sylva, as saying yesterday that Nigeria is "no longer in the business of fixing" fuel prices. Sylva told an online briefing that the global oil price crash had made removing the subsidies "inevitable." "It is about the survival of our country. There are certain things that the country can ill-afford at this time," he said.

Meanwhile, the Minister of State, Petroleum Resources, Chief Timipre Sylva, yesterday said that Nigerians who could not afford to buy petrol at the current pump prices should embrace the use of alternatives to be provided by the federal government. Sylva, who spoke during a press briefing in Abuja to clarify what he said were misunderstandings surrounding the recent hike in the pump price of the product noted that the government was not insensitive to reservations expressed by some Nigerians over the issue. The minister argued that removing subsidy was the way to go, disclosing that the government was spending over N1trillion yearly on under-

recovery, a development he said was unsustainable. He reiterated that in the next few weeks, the government would be rolling out the alternatives in the form of Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG), which are cheaper and better alternatives. "In the end, I do not think that people will even feel the increase because by the time you get used to gas to fuel your car at half the price of petrol, you probably won't think of petrol anymore. "Let us allow this policy to mature. These are just teething problems. Down the line, Nigeria will be happier for it and this country will survive better economically" he said. He said announcing a template every month was no longer practicable, saying that it would give the impression that the downstream is still being regulated by the government. "So, we are now like umpires on the same side. We watch the price. If the price goes beyond our in-house estimate because we take into consideration everything it takes to land this product in Nigeria. "We are also introducing a complaint box in the ministry of petroleum. If a marketer is raising prices beyond a certain rate, you report to us. We have become the police. "Because our duty is to ensure the public is not cheated. We are now on the same side to police the marketers and retailers to ensure they do not profiteer from the public," he stressed. He said that whenever crude oil price goes up, the price of fuel will also move accordingly, since the market is now deregulated. Sylva added that left to President Muhammadu Buhari, the prices of petrol

would not increase, noting that liberalising the market is now inevitable given the impact of the coronavirus pandemic. He explained: "It's like we were burning our candles at both ends. You are subsidising at the pump and subsidising the foreign exchange. So, if you put all the subsidies together, it came to more than N1 trillion and who were we subsidising? â&#x20AC;&#x153;It is the same rich people that benefit from the subsidy and the poor people continue to lose from even subsidy. This country cannot continue to afford this subsidy." Henceforth, Sylva said that market forces will determine prices, but stressed that the government will continue to protect the consumers. "We are no longer in the business of fixing those prices. We have stepped back and allowing market forces to determine the price at the pump. "When the international price of crude oil went down, it reflected at the pump and when it goes up, it also reflects. It's the same crude oil we are talking about," the minister noted. He disclosed that he had already sent all his cars at the ministry for recalibration, to enable them to use gas as fuel, explaining that all filling stations in the country will soon be requested to join. "We will start with the NNPC owned filling stations across Nigeria and skids will be mounted with CNG and LPG. "Some privately owned filling stations are also joining and others are asking to be admitted. This will be very soon. "DPR will ask filling stations to upgrade or their licences will not be renewed. Within a short time, we will have the capability," Sylva added.

(IATA) also expressed happiness that flights would resume in Nigeria from tomorrow. He, however, expressed worry about the charges and the stringent COVID-19 protocols. He said against $20 charged by other countries, Nigeria is charging $150 for compulsory COVID-19 tests, which would cost $300 when the passenger returns to conduct another test to certify himself free from the pandemic. He said: â&#x20AC;&#x153;The plan to resume flight operations by September 5, 2020, is sacrosanct and we are happy about that but the COVID-19 protocols introduced by the government will reduce passengers. "However, ticket sales have risen by 15 per cent and this will continue to rise as days go by. â&#x20AC;&#x153;But the difference is that while other countries charge $20 for Coronavirus test, Nigeria is charging $150. This has increased the cost of travel. And when you return you will do another test so that you will be certified COVID-19 free to be allowed to go home. Imagine travelling to Accra you pay $150 for test and when you return you pay another $150. â&#x20AC;&#x153;That is outrageous. So, we look forward to resumption.â&#x20AC;? Tourism Consultant and Vice-President (South-east) Federation of Tourism Association of Nigeria who also operates Zigona Travels and Tours Limited, Ms. Ngozi Ngoka, also told THISDAY that ticket sales have increased. Ngoka, however, said the federal governmentâ&#x20AC;&#x2122;s policy

of limiting the number of passengers that arrive in Nigeria means that each airline cannot carry more than 150 passengers because of the capacity of the airports so that there would be enough social distancing. She added that the Nigerian Civil Aviation Authority (NCAA) has been briefing the travel agents. She noted that while there is no ceiling to the number of passengers the airlines could take out of the country, the airlines could only bring in 1, 280 passengers to each of the two airports in Abuja and Lagos, which would be the first to resume international flights. She said most of the people travelling out include students studying overseas, some citizens of other countries trapped in Nigeria and others. She added that there is no leisure travel yet. â&#x20AC;&#x153;Many of the persons, buying tickets are students who are studying overseas. The first flight that will operate into Nigeria on September 6, a day after the resumption, is likely to return with a full load factor. I alone have about 25 passengers there and that is Emirates. As a Nigerian who promotes local tourism, I am not happy that fewer passengers are returning into the country while the airlines are taking more passengers away. Anyway, the foreign airlines are willing to return to Nigeria,â&#x20AC;? she said. A senior NCAA official told THISDAY that the cost of COVID-19 test was determined by Presidential Task Force (PTF) on COVID-19 and the Nigeria

Centre for Disease Control (NCDC), adding that the high cost has nothing to do with aviation agencies. On the readiness of foreign airlines to operate to Nigeria, he told THISDAY that about 20 of the airlines, including the major carriers, have gone through NCAA Standard of Operation (SoP) checks and are ready to fly to Nigeria but this would be determined by each countryâ&#x20AC;&#x2122;s policy on COVID-19 because some countries have

FG Urges Nigerians to Embrace Alternative to Petrol

FG BARS EU AIRLINES, BA, EMIRATES, OTHERS GOOD TO GO for international travels. He listed EgyptAir, Virgin Atlantic, Turkish Airlines, AWA, Kenya Airways and Middle East Airlines as airlines permitted to operate into the Lagos airport. The minister also listed British Airways, Emirates, Ethiopian, AWA, and Middle East Airlines as airlines allowed to operate into the Abuja airport. However, Sirika said Air France, KLM, Lufthansa, Etihad Airways, Angolan TAG, Air Namibia and Royal Air Maroc are not approved to operate flights into the country. The countryâ&#x20AC;&#x2122;s airspace and airports had been shut to flight operations in March to curb the spread of COVID-19. However, the federal government had approved the restart of domestic flights from July 8. Sirika said passengers who fail to comply with the COVID -19 protocol put in place to curb the importation of the virus would be suspended from travelling for six months while airlines that fail to comply would pay a fine of $3,500 per passenger. He said: â&#x20AC;&#x153;Now, at this point, it is important that we announce the airlines that are allowed for operations into the country. The ones not approved are Air France. Middle East Airlines is approved for only Lagos (airport). British Airways (is) approved â&#x20AC;&#x201C; allowed entry under COVID-19 protocol. â&#x20AC;&#x153;The reason for Air France is that touristâ&#x20AC;&#x2122;s business holders are not allowed entry. KLM not approved for the same reason

as Air France. Delta Airlines, no restrictions â&#x20AC;&#x201C; USA, we have an Open Skies with them and they also allow us in. â&#x20AC;&#x153;Qatar Airways are allowed and approved under Covid-19 protocol. Etihad, not approved. Ethiopian Airlines allowed entry under Covid-19 protocol. Egyptair approved, allowed entry under Covid-19 protocol. â&#x20AC;&#x153;Rwandair not approved. Air Peace, not applicable, they are our own carrier in Nigeria, we thank them. Virgin Atlantic, approved, allowed entry under Covid-19 protocol. Air Namibia, not approved. Asky, approved. Royal Air Maroc, not approved. African World Airways, Ghana, approved. â&#x20AC;&#x153;Air Cote dâ&#x20AC;&#x2122;Ivoire, approved. Lufthansa, not approved. Kenya Airways approved. Emirates Airlines approved. Turkish Airlines approved. Cabo Verde not applicable as international flights are not resumed. Angolan TAG, not approved. South African Airways not applicable as international flights are yet to resume.â&#x20AC;?

Ticket Sales Surge Ahead of Resumption of International Flights Meanwhile, the demand for tickets for foreign trips has surged as travellers eagerly await to resume their international engagements, THISDAYâ&#x20AC;&#x2122;s investigation has revealed. THISDAY gathered that despite the concern that the stringent conditions given to

foreign travellers under the COVID-19 protocols, and the high cost of travel would discourage many people from travelling, the demand for tickets has risen. The immediate past President of the National Association of Nigeria Travel Agencies (NANTA) and the Group Managing Director of the biggest travel agency in Nigeria, Finchglow Limited, Mr. Bankole Bernard, who confirmed the development to THISDAY, however, expressed reservations over the conditions given to travellers, including the high cost of COVID-19 tests. He said there was concern that the stringent conditions and the high cost of travel would discourage many from travelling despite the surge in demand for tickets. THISDAY gathered that while waiting for Nigeria to reopen the airports for international travels, many Nigerians had been travelling through the countryâ&#x20AC;&#x2122;s neighbouring countries such as Equatorial Guinea (Malabo), Togo and Benin Republic. It was learnt that with the use of those alternative routes, the travel agencies had been selling tickets of international carriers despite the ban on international flights. Bernard, however, said since the federal government announced its definite date for flight resumption, the demand for tickets has surged. Bernard who is also the Chairman, Airline and Passenger Joint Committee (APJC), said the International Air Transport Association

Continued on page 12

TOP GAINERS NGN NGN % UPDC 0.07 0.91 8.3 LINKASSURE 0.03 0.42 7.6 ROYALEXCH 0.02 0.33 6.4 WAPIC 0.02 0.35 6.0 VITAFOAM 0.28 5.78 5.0 TOP LOSERS NGN % NEIMETH 0.13 1.87 6.5 AIICO 0.05 0.90 5.2 STERLBANK 0.06 1.19 4.8 LASACO 0.01 0.25 3.8 TRANSCORP 0.01 0.58 1.6 HPE Nestle Nig Plc â&#x201A;Ś1,175.00 Volume: 232.416 million shares Value: N1.315 billion Deals: 3,377 As at yesterday 3/9/2020 See details on Page 37

FRIDAY SEPTEMBER 4, 2020 â&#x20AC;¢ T H I S D AY

FRIDAY, ÍźË&#x153; ÍşÍ¸ÍşÍ¸ Ëž T H I S D AY

NEWS

Zenith Bank Posts N104bn Profit in Six Months

Goddy Egene

Zenith Bank Plc has reported a profit-after-tax (PAT) of N103.8 billion for the half-year ended June 30, showing an increase of 16.8 per cent compared with N88.9 billion recorded in the corresponding period of 2019. Based on the improved bottom-line, the bank has recommended an interim dividend of 30 kobo per share to the shareholders, which is the same level of interim paid the previous period. Details of the audited statement of account, which was presented to the Nigerian

Stock Exchange (NSE) yesterday showed that gross earnings grew from N332 billion in 2019 to N346 billion in 2020. The growth was driven by six per cent increase in non-interest income from N110 billion in H1 2019 to N116 billion in H1 2020. Impairment charges jumped by 74 per cent, from N13.4 billion to N23.9 billion in 2020, while Profit Before Tax increased to N114 billion in H1 2020 from N112 billion in H1 2019. The Group recorded growth in total deposits by 15 per cent

from N4.3 trillion in December 2019 to N4.9 trillion at the close of H1 2020. This growth in total deposits was driven by a 41 per cent increase in retail deposits from N1.1 trillion to close at N1.6 trillion. Commenting on the results, analysts at Cordros Research, said in their view, that the bankâ&#x20AC;&#x2122;s macro-prudential ratios remain strong, as all ratios settled within statutory limits. The bankâ&#x20AC;&#x2122;s non-performing loans ratio improved to 4.7 per cent from five per cent in the prior quarter, although this may be adduced to the significant year-to-date (YTD) expansion

in loans to customers, as well as regulatory forbearance for distressed restructures. â&#x20AC;&#x153;Similarly, the bankâ&#x20AC;&#x2122;s capital adequacy (20 per cent) and liquidity (43.8 per cent) ratios remained strong after expanding quarter on quarter and signifies that the bank has ample headroom for growth over the medium-term. Also, we note that the bankâ&#x20AC;&#x2122;s current loans-to-deposits ratio (66.1 per cent) is now above the minimum LDR of 65 per cent,â&#x20AC;? the analysts said. According to them, the bankâ&#x20AC;&#x2122;s macro-prudential ratios remain strong, as all ratios

settled within statutory limits. â&#x20AC;&#x153;The bankâ&#x20AC;&#x2122;s non-performing loans ratio improved to 4.7 per cent from 5.0 per cent in the prior quarter, although this may be adduced to the significant YTD expansion in loans to customers, as well as regulatory forebearance for distressed restructures. Similarly, the bankâ&#x20AC;&#x2122;s capital adequacy (20 per cent) and liquidity (43.8 per cent) ratios remained strong after expanding quarter on quarter and signifies that the bank has ample headroom for growth over the medium-term. Also, we note that the bankâ&#x20AC;&#x2122;s current

loans-to-deposits ratio (66.1%) is now above the minimum LDR of 65 per cent,â&#x20AC;? they added. They noted that the bankâ&#x20AC;&#x2122;s performance was well above their expectation, as the much reduced tax expense supported a stronger expansion in profitability. â&#x20AC;&#x153;Save for that the performance of key lines remain within our forecasts. We expect core income growth to remain weak, although overall performance should be stronger as non-funded income expands due to FX revaluation gains. We are reviewing our estimates,â&#x20AC;? the analysts said.

NPA Terminates Intelsâ&#x20AC;&#x2122; Pilotage Contract Court stops cancellation of companyâ&#x20AC;&#x2122;s operations Eromosele Abiodun After over three years of bickering, the Nigerian Ports Authority (NPA) yesterday terminated its boat pilotage monitoring and supervision agreement with Intels Nigeria Limited. Intels is a leading integrated logistics and facilities services provider in the maritime and oil and gas logistics sectors of the economy. However, the Federal High Court, sitting in Lagos, has granted an interim injunction stopping the NPA from terminating the company as the manning agent in the pilotage districts of Lagos, Warri, Bonny/Port Harcourt and Calabar. But in a marine notice, the NPA directed all service boat owners and operators to do transactions directly in each of its port complex. The marine notice read in parts, â&#x20AC;&#x153;This is to inform our numerous stakeholders in Nigeria and abroad that the service boat operation hitherto handled by a third-

party company, the Integrated Logistics Services (Intels) Nigeria Limited has been terminated. â&#x20AC;&#x153;By this notice, all service boat owners and operators are to do transactions directly in each of the port complex of the NPA. Every service boat movement must be reported and booked at the office of the Harbour Master of the District, where Pilotage Chits and Master Declaration forms will be issued and returned after every movement.â&#x20AC;? The NPA in the notice dated September 1 and signed by its Harbour Master, Lagos Pilotage District, Capt. Daniel Hosea, directed that every enquiry on service boat movement should be directed to the office of its port manager of the ports/ harbor master, pilotage district. The NPA had in a letter dated March 29, 2019, addressed to the Managing Director of Intels, revoked the contract in line with Article 8 (C) of its agreement with Intels, dated February 11, 2011. However, after several meetings and interventions,

the NPA and Intels decided to settle their differences given that the contract would expire in 2020. The March 2019 letter signed by NPAâ&#x20AC;&#x2122;s Assistant General Manager, Legal Services, read in part, â&#x20AC;&#x153;we refer to the agreement dated February 11, 2011, and August 24, 2018, between the NPA and Intels Nigeria Limited for the monitoring and supervision of oil industry-related activities in the compulsory pilotage districts of the authority (service boat operator). â&#x20AC;&#x153;The NPA (the principal ) hereby serves on you Intels Nigeria Limited, (the managing agent) notice of termination in line with article 8 (C) of its agreement with Intels, dated 11th February 2011, which said notice shall expire three months from the date of this notice of termination.â&#x20AC;? In an earlier letter dated March 27, 2019, NPAâ&#x20AC;&#x2122;s Executive Director, Finance and Administration, Mohammed Bello-Koko, had recommended the cancellation of the contract to the Managing

Director of NPA, Hadiza Bala-Usman, accusing Intels of non-compliance with the presidential directive and circular on implementation of Treasury Single Account (TSA) and Article 4.1 of the executed supplemental agreement by refusing to remit $145, 849,309.33, being outstanding service boat revenue generated from November 1, 2017 to October 31, 2018, to NPA. According to Bello-Koko, Article 4.1 of the executed supplemental agreement states, â&#x20AC;&#x153;The total revenue generated on behalf of the principal in each of the pilotage districts from the service boat operations shall be paid directly into the principalâ&#x20AC;&#x2122;s TSA at designated commercial banks which will be swept daily into the principalâ&#x20AC;&#x2122;s corresponding TSA at the Central Bank of Nigeria (CBN).â&#x20AC;? He stated that Intels neither remitted $55.72 million, which it pledged to remit in a letter dated February 12, 2019, nor $145.84 million, which it demanded via various letters. Meanwhile, a Federal High

Court sitting in Lagos has granted an interim injunction stopping the NPA from terminating the role of INTELS Nigeria Limited as a manning agent in the pilotage districts of Lagos, Warri, Bonny/Port Harcourt and Calabar. Justice R.M. Aikawa granted the interim injunction in a suit number FHC/L/CS/1058/2020 based on an application filed by INTELS and Deep Offshore Service Nigeria Limited against the NPA. INTELS and Deep Offshore had requested the court to restrain NPA from preventing them from performing their duties as managing agent, pending the determination of ongoing arbitration proceedings. The court order, which was issued on August 28, reads: â&#x20AC;&#x153;That an order is granted restraining the respondent, its servants, agents, and/ or privies from giving effect for the purported notice of expiration issued it on 5th August 2020 or taking any other step to prevent the parties from performing their duties and obligations under

the agreements between the 1st applicant and respondent dated 11th February 2011 and 24th August 2018, pending the determination of the originating motion dated 12th August 2020 seeking for interim measures of protection in support of the pending arbitration between the parties therein.â&#x20AC;? The court adjourned the matter till September 15 for the hearing of the originating motion on notice. Consequent upon the court order, INTELS in a statement yesterday asked the shipping community to disregard the marine notice by NPA, adding that it was issued in contempt of the court. â&#x20AC;&#x153;NPAâ&#x20AC;&#x2122;s publication is highly selective, inaccurate and should be disregarded, as it seeks to circumvent legal due process. Indeed, a dispute has arisen over NPAâ&#x20AC;&#x2122;s right to terminate our role as managing agent in the pilotage districts of Lagos, Warri, Bonny/Port-Harcourt and Calabar. This dispute has been submitted to arbitration, and the arbitral proceedings have already commenced.â&#x20AC;?

According to him, the NYSC can only reopen orientation camps when the tertiary institutions open. He stated that the limit of gatherings, including weddings, meetings and burials has now been raised to 50 persons from 20 that it used to be, while the visiting of patients is still limited to the immediate family. Also, Chairman of the PTF, Mr. Boss Mustapha, said Buhari approved the extension of the six-month mandate of the organisation till December 31 after the PTF submitted its seventh interim report to the president. He said the report reviewed the four weeks of transition into the third phase of the National Response to COVID-19, which ends from 12.01 am today. Mustapha said the thrust of the recommendation would see

Nigeria advance to the third phase of eased restrictions with further amendments to address economic, socio-political and health concerns. According to him, this will last until a time when the epidemic is sufficiently controlled in Nigeria. Mustapha described South Africa and Ethiopia as countries of interest to Nigeria, given the increase in the numbers of cases there. He said the federal government, which is planning to reopen the international air space tomorrow is worried because of the passenger traffic between Nigeria and the two countries. He also expressed PTF's displeasure with the low level of sample collection because of its implications for the strategy of testing, detection, tracing,

isolation and treatment. He said in spite of the increased diagnostic capacity and improved access to testing, the demand remained low with not enough samples being collected. ''Nigerians will all recall that at the onset of the eased lockdown, the PTF drafted a three-phase strategy of easing the restrictions, ahead of a full reopening of the society and economy. In determining what phase of the strategy to move to, the PTF tried to balance the public health and economic considerations alongside data analysis. The PTF believes that while Nigeria is not ready for a full re-opening of the economy, there has been sufficient progress to warrant significant further relaxation of the restrictions applied,'' he added.

to inform the industry of the following: Murtala Muhammed International Airport, Lagos, (DNMM) and Nnamdi Azikiwe International Airport, Abuja (DNAA) will resume international operations effective 00.01z on 5th September 2020.â&#x20AC;? NAMA also issued NOTAM, informing operators of the new development. The Managing Director of NAMA, Capt. Fola Akinkuotu, said: â&#x20AC;&#x153;The NOTAM was issued immediately we received the

circular from the NCAA on Wednesday. The NOTAM takes effect from the hour 0001 utc on the 5 September.â&#x20AC;? NCAA said other international airports in the country would not participate in the restart. â&#x20AC;&#x153;Other international airports, namely: Mallam Aminu Kano International Airport, Kano (DKNN), Port Harcourt International Airport, Omagwa (DNPO) and the newly reopened Akanu Ibiam

International Airport, Enugu (DNEN) will remain closed to international flights until a new date is determined and announced,â&#x20AC;? it added. With communications, foreign airlines are now waiting for the 1,280 passengers (each for Lagos and Abuja airports) inbound passengers to be allocated and the official COVID-19 guidelines protocols, especially the digital platform where in-bound passengers could fill in the required information.

COVID-19: FINALLY, SCHOOLS GET APPROVAL FOR PHASED REOPENING tertiary institutions, educational institutions should begin the process of working towards potentially reopening within this phase. â&#x20AC;&#x153;However, we strongly recommend that states conduct a risk assessment to ensure all schools are at a level of compliance and create a monitoring mechanism to assess, create and monitor this level of preparedness. â&#x20AC;&#x153;Meanwhile, all day-cares and educational institutions are to remain closed to inclasses until this level of risk is assessed. And if there will be opening of schools, it must be staged and preferably carried out in phases to ensure that this does not pose a risk to the general public and in particular to vulnerable groups that might end up getting infected by students going back home.â&#x20AC;?

Aliyu said the nationwide curfew will now commence from 12am to 4 am from today. He, however, said the restriction would not apply to people on essential services and international travellers. Similarly, the work-at-home policy will be maintained for federal civil servants below the level of Grade Level 12, while only public workers from level 12 and above will be allowed to go to work. He added that the private sector will be allowed to determine the optimum working capacity within their office while ensuring enough physical distancing and preserving the health of workers in their employ. He also announced that all restrictions on marketsâ&#x20AC;&#x2122; opening days have been removed, including limits placed on

stores. Aliyu said amusement parks, gyms and cinemas could open at half capacity, while bars and nightclubs are to remain closed till further notice and that only outdoor events centres can open for service. In addition, Aliyu said the National Youth Service Corps (NYSC) should start making preparations to reopen the camps. He said: â&#x20AC;&#x153;For the National Youth Service Corps, the NYSC is to consolidate on safety measures currently being put in place and start preparing for the reopening of orientation camps when educational institutions open. â&#x20AC;&#x153;We are in the process of developing strict guidelines to ensure there is no outbreak of COVID-19 when this process starts.â&#x20AC;?

FG BARS EU AIRLINES, BA, EMIRATES, OTHERS GOOD TO GO policies that do not allow Nigerian citizens to enter their borders. â&#x20AC;&#x153;Airlines are ready, but the problem is not with the airlines, but countries that are not allowing Nigerian citizens into their borders. But that is Ministry of Foreign Affairsâ&#x20AC;&#x2122; issues; not that of NCAA. Airlines have done SoP. About 20 airlines have done that and are ready but airlines like Royal Air Maroc has not gone through the process because

their country has not opened for flight operations, but I am sure that even big airlines like Delta, most of the European carriers have gone through the process,â&#x20AC;? the NCAA official said.

NCAA, NAMA Issue Notice to Foreign Airlines NCAA and NAMA have issued Notice to Airmen (NOTAM) to

all airlines flying into and out of Nigeria and other stakeholders ahead of resumption of international flights. According to the All Operators Letter with reference number NCAA/ AIR/11/16/225, signed by Director-General of NCAA, Captain Musa Nuhu, â&#x20AC;&#x153;Following the announcement by the Presidential Task Force (PTF) on COVID-19 on the partial resumption of international flights, we wish

FRIDAY SEPTEMBER 4, 2020 â&#x20AC;¢ T H I S D AY

T H I S D AY Ëž Ë&#x153; Í˛Ë&#x153; 2020

COMMENT

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

FACE OF PDP ON THE PLATEAU Jonah Jang earned his mark as a leader, writes Chris Gyang

hen the great Leopold Senghor was championing the Negritude literary movement, which was aimed at showcasing to the world the fact that the black man was not of a backward race, the legendary Wole Soyinka simply told him to stop all the posturing and hype but, rather, concentrate on practically demonstrating what he was hypothising by churning out critically acclaimed literary works that could match those of Europeans. Thus, Soyinka famously declared: â&#x20AC;&#x153;A tiger does not have to proclaim his tigritude.â&#x20AC;? Essentially, he was saying that the effectiveness of any human endeavour and cause is ultimately judged by the quality of the practical and tangible outcome and not by ephemeral words and idealization. Why are we going down this literature memory lane here? Itâ&#x20AC;&#x2122;s meant to show us that a man, in fact, every human being, should be able to point to the practical, positive, outcomes of his or her endeavours and thoughts when all is said and done. It is from that stand point, therefore, that we wish to kindly direct the minds of both of our political leaders and those of us who believe in them, in our process of assessing who is a true leader among them. Viewed from that perspective and on a more general note, respect for a leader is strictly based on his practical antecedents. That kind of respect naturally emanates from what the people see as his felt contributions to their general well-being. This kind of respect can never be exacted or gotten through sophistry of any kind. This is because, first, the human mind has the capacity to discern the difference between truth and deceit. Second, and most importantly, true leaders are forged from the most finest stuff that can never be counterfeited. Itâ&#x20AC;&#x2122;s with a view to the above humble submissions that we kindly wish the Peoples Democratic Party (PDP) in Plateau State to dispassionately view some of the unsavoury issues that are cropping up in the

JANG HAS EARNED THE RESPECT AND POSITION OF A STATESMAN AND LEADER BECAUSE HE HAS NOT PATENTLY â&#x20AC;&#x2DC;DECLAREDâ&#x20AC;&#x2122; HIS â&#x20AC;&#x2DC;TIGRITUDEâ&#x20AC;&#x2122;

follow up to Saturdayâ&#x20AC;&#x2122;s elections into the partyâ&#x20AC;&#x2122;s state executive council. Of course, as a human being and leader, Jonah David Jang has his personal flaws which surely hurt individuals, groups and even our state when he was governor. But, definitely, Jang is not the problem of the PDP in Plateau State. On the contrary, he is the most unifying factor in Plateau PDP. For instance, in the 2019 general elections, his northern zone gave the PDP an unmatched clean slate. To be sure, his is an exalted and iconic position that has been voluntarily conferred on him by the generality of Plateau people and party members and not through any force of coercion or exaction. If the truth must be told, Jonah Jang is the face of PDP in Plateau State. Consequently, we are also bold to assert that he has earned a place on the pantheon of great leaders of not only our party but Plateau State as a whole. Undoubtedly, he is the nemeses of the rudderless Lalong administration mainly because his achievements as governor are so intimidating to them that they know that even if they are given two plus two more tenures, they can never match his developmental landmarks that will remain a reference point in the annals of the governance of our state for a long time to come. This is only one of his legacies that have also seamlessly conferred on him the title of a true leader. And, like Soyinka so boldly affirmed, Baba Jang has earned the respect and position of a statesman and leader because he has not patently â&#x20AC;&#x153;declaredâ&#x20AC;? his â&#x20AC;&#x153;tigritudeâ&#x20AC;?. Rather, he has painstakingly concentrated on the selfless venture of offering good governance and direction to Plateau people. Others who seek to be true leaders may kindly wish to borrow a leaf from Jonah Jang. Obviously, rabble rousing is not the path towards such respect because itâ&#x20AC;&#x2122;s earned and not exacted while real leaders are fashioned out of the best, finest stuff. Gyang wrote from Jos

POLITICS OF UNENDING CONTROVERSY John Obayuwa urges University of Ibadan to revisit how Godwin Obaseki was admitted into the institution

n every clime, ivy league institutions are darling of aristocrats and commoners. The university one attended often confers status symbol and collegial respect regardless of individualsâ&#x20AC;&#x2122; intellectual prowess. This explains why egocentric folks announce to anyone that cares that they were trained in Harvard, Oxford and Cambridge, among other top schools. After all, not all Harvard graduates can match half of the intellectual quotient of Bill GateS, billionaire founder of Microsoft and Mark Zuckerberg, the tech wizkid who wowed humanity with Facebook. They both had brief stint at Harvard before dumping the gown for the town to pursue tNigeriaâ&#x20AC;&#x2122;s premier university, the University of Ibadan, one the first generation universities was in the class of its own in the 60s and 70s. It was gathered that the rating and the quality of teaching and research drew expatriates from other countries including Europe to UI. It was the pride of Africa. Like UI, Whatson School of the University of Pennsylvania is an elite ranked institution in the United States. Like Nigeriaâ&#x20AC;&#x2122;s premier university, the admissions are allotted to the very best and the process is rigorous because it is also recruitment channel of globally relevant future leaders. You need more than ability to pay tuition to belong. You must be exceptionally intelligent. United States President Donald Trump like Edo State Governor Godwin Obaseki has a lot in common. As political leaders, they both pander to primordial sentiments and incite people against themselves just to clinch onto power at all costs. Trump, an unapologetic White supremacist openly exploited the national fault lines of racism and segregation for cheap electoral mileage. Obaseki is not too different. He has been busy beating the drums of war and violence

whilst hypocritically whining over federal might. He rallied the people to resist attempt by â&#x20AC;&#x2DC;godfathersâ&#x20AC;&#x2122; to hijack Edo. Meanwhile, he was nobody politically before 2016 when the political principalities cleared the coast for him. The academic credentials of both men are also subject of controversy. Trump has been accused of fraudulently gaining admission to elite Wharton School of the University of Pennsylvania where he graduated in 1968 with a Bachelor of Science in Economics. Eric W. Orts, a professor of legal studies and business ethics at the Wharton School of the University of Pennsylvania, Trumpâ&#x20AC;&#x2122;s alma mater asked the Provost Wendell Pritchett that the university launches an investigation into Trumpâ&#x20AC;&#x2122;s admission. Trumpâ&#x20AC;&#x2122;s sister Maryanne Trump Barry had reportedly claimed that Trump â&#x20AC;&#x153;got into University of Pennsylvania because he had somebody take the exams,â&#x20AC;? according to secretly recorded audio by the presidentâ&#x20AC;&#x2122;s niece Mary Trump that was published by The Washington Post. Orts declared that â&#x20AC;&#x153;In my personal opinion, Donald Trump is the worst admissions mistake that the Wharton School has ever madeâ&#x20AC;?. Universities that worth the name will do all they can to protect their reputation because that is their prized honour. The provostâ&#x20AC;&#x2122;s objection that the time of crime was too long to make any meaningful outcome is not holding water. â&#x20AC;&#x153;We have determined that this situation occurred too far in the past to make a useful or probative factual inquiry possibleâ&#x20AC;?. But the pressure continues to mount so that the worst of men will not lead the best of men. Six Wharton professors who had earlier raised the alarm before Orts argued that, â&#x20AC;&#x153;Failing to investigate an allegation of fraud at such a level broadcasts to prospective students and the world at large that the playing

field is not equal, that our degrees can be bought, and that subsequent fame, wealth, and political status will excuse past misconduct.â&#x20AC;? The pride of Nigeria, University of Ibadan needs to revisit how Obaseki managed to make it into the prestigious institution with three credits, three passes grade out of the six subjects recorded in his Oâ&#x20AC;&#x2122;level results, a grade combination many believed as lower than acceptable points for the entrance examination into the university back then, unless he sat for other exams to combine the result. It is not enough to declare that Obaseki graduated in 1979 from UI. If he lacked the fundamentals, how can anything stand? It is precept upon precept. The precondition for admission must first be satisfactorily fulfilled before further laurels can be deemed legitimate. Obasekiâ&#x20AC;&#x2122;s Oâ&#x20AC;&#x2122;level results of June 1973 need forensic scrutiny. That was the poser that former National Chairman of the ruling All Progressives Congress (APC), Comrade Adams Oshiomhole raised that rattled Obaseki and his followers. He said, â&#x20AC;&#x153;Someone should approach the UI and end this matter once and for all. If the certificate Obaseki parades is that of the UI, find out â&#x20AC;&#x201C; how did he pass senate screening of those days? Iâ&#x20AC;&#x2122;m aware that in those days when this man never dreamt of becoming a governor, every student, no matter your status or your family name, must pass screening. â&#x20AC;&#x153;How come the UI allowed him then? Did he do a remedial? Which was not unlikely. These are questions. Many (who) came in especially in education and linguistics, did remedial for one year and if the result was good, gained direct entry and graduated three years afterâ&#x20AC;?. Like its counterpart in the United States, the University of Ibadan can still further interrogate the credentials

Obaseki used in securing admission in the interest of safeguarding its esteemed tradition of academic excellence. Hope the embattled governor will also explain the discrepancies in the affidavit he sworn when he curiously claimed that he has lost all the original copies of his academic credentials while switching offices. On 7th June 2016, Mr. Godwin Obaseki deposed to an affidavit at the High Court in Abuja claiming to have obtained a first-degree certificate of Bachelor of Arts in Classical Studies from the University of Ibadan in 1976. On 11th June 2016, he also made a declaration on oath at the Edo State High Court in Benin City reiterating the claim that he indeed obtained the degree in 1976. Meanwhile, the attached duplicate of the said certificate attached to the sworn oath portrayed that the certificate was obtained in 1979, a claim that contradicts the date declared by Governor Godwin Obaseki. Added to the confusion and contradiction is the fact that Obaseki claimed to have obtained an Ordinary Level School Certificate from Eghosa Grammar School in 1973. The duration of study to obtain a degree in Classical Studies from the University of Ibadan for students who gained admission with an Ordinary Level School Certificate like Mr. Godwin Obaseki is four years. If this is the case, then this must mean that Mr. Godwin Obaseki, had he truly gained admission to the school, ought to have graduated in 1977. However, this, once again, is in obvious conflict with the 1976 claim Obaseki personally swore to in an oath â&#x20AC;&#x201C; and the different 1979 date of graduation on the duplicate certificate he presented in the affidavit and oath he swore in court. Obayuwa wrote from Benin

T H I S D AY Ëž Ë&#x153; Í˛Ë&#x153; 2020

EDITORIAL

CARRINGTON: THE DEFAULT NIGERIAN Walter Carrington, former American Ambassador to Nigeria, died 11 August, aged 90

he recent death of the former American Ambassador to Nigeria, Dr Walter Carrington, has robbed our country of a friend who stood by us during the darkest days of military rule. Ordinarily, the work of an ambassador is to represent their country and its national interest but Carrington saw himself not only as an American but also an African-American who could not sit idly by while the rights of Nigerians were being trampled upon by a few people. In using the American might to nudge the late General Sani Abacha regime to do the right things, he became a marked man. At the end he was hounded out of Nigeria. But his link with our country, cemented with the marriage to a Nigerian, remained unbroken till the end. Posted to Nigeria in 1993 by the then United States President Bill Clinton, THE TENURE OF Carrington spent CARRINGTON IN NIGERIA four momentous WENT BEYOND THE CALL years during OF NORMAL DIPLOMATIC which time he embedded DUTY. HE REACHED BACK himself in pro-deTO HIS BLACK ANCESTRY mocracy groups TO IDENTIFY WITH OUR in the country COUNTRY AT A VERY and served as DIFFICULT MOMENT IN OUR thorn in the flesh of the Abacha NATIONAL HISTORY military junta. An uncommon diplomat, Carrington openly identified with Nigerians who clamoured for the end to military rule with all its arbitrariness, despite threats to his life. After his tour of duty in Nigeria ended and he returned to the United States, Carrington continued to remain involved, doing his best to enable the country to return to democratic rule. Carrington had a pedigree that prepared him well for the diplomatic job especially his tour of duty in Nigeria. Upon graduation from Harvard Law school in 1955, he enlisted in the U.S. Army,

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A COUNTRY OF CONTROVERSIES

f you think Nigeria is not a controversial country, the recent trending and chronicle of events will prove you wrong. Our media spaces have been polluted with news, views and opinions from different angles on NBAâ&#x20AC;&#x2122;s dis-invitation of governor Nasir Ahmed el-Rufai of Kaduna State. The Nigerian Bar Association (NBA) held its National conference this year with the tittle â&#x20AC;&#x153;Who is a Nigerian?â&#x20AC;? a question of national identity. interestingly, El-Rufai was invited and billed to serve among the group of panelists. However, citing disobedient to court orders and his inability to address the lingering security challenges in southern Kaduna, El-Rufai invitation was withdrawn. The actions of NBA had since sparked mixed reactions and divided the association of â&#x20AC;&#x153;learnedâ&#x20AC;? people. If NBA has the record of El-Rufaiâ&#x20AC;&#x2122;s contempt or violation to court orders and other spurious allegations, why did they invite him in the first instance? The NBA action came at a time Governor Nyesom Wike and former President Olusegun Obasanjo were also invited to the event. The duo was also accused of assault against the courts with Wike was once reported to have disrupted court sitting and chased both the judge and the lawyers. By not withdrawing their invitation letters, NBA actions are viewed within ethnic and religious slant. Now, NBA has been polarised along regional and religious fault lines because of its own undoing. I have learned

where one of his assignments was as an enlisted man with the Judge Advocate General Corps (Germany, 1955â&#x20AC;&#x201C;57). Thereafter, he entered a private law practice in Boston, Massachusetts during which time, he also served as Commissioner of the Massachusetts Commission Against Discrimination, the youngest person to serve until that date. He held various positions in the Peace Corps from 1961 to 1971, serving as Country Director in Sierra Leone, Senegal, and Tunisia and then as Regional Director for Africa (1969â&#x20AC;&#x201C;71). From 1971 to 1980, he was Executive Vice President of the African-American Institute. Carrington served as the United States Ambassador to the Republic of Senegal from 1980 to 1981. In 1981, he was named Director of the Department of International Affairs of Howard University. He published several articles on Africa. On 1 September 2004, Carrington was named the Warburg Professor of International Relations at Simmons College in Boston. He was a member of Alpha Phi Alpha fraternity. In 1997, he received an honorary doctorate (Doctor of Humane Letters) from Livingstone College, North Carolina. In a fitting tribute, President Muhammadu Buhari described Carrington as a â&#x20AC;&#x153;longtime friend of Nigeria and an astute and courageous diplomat.â&#x20AC;? The president praised the late ambassador whom he said â&#x20AC;&#x153;openly supported the people of this country when they fought for the return of democracy following the annulment of the June 12, 1993 presidential elections won by the late Moshood Abiola.â&#x20AC;? He added that the story of Nigerian democracy under the Fourth Republic will not complete without a mention of his heroic roles. We agree with the president. The tenure of Walter Carrington in Nigeria went beyond the call of normal diplomatic duty. He reached back to his black ancestry to identify with our country at a very difficult moment in our national history. We condole with his Nigerian wife, Arese, and other members of his family. May he rest in peace.

that some aggrieved northern lawyers have walked away to form a parallel New Nigerian Bar Association (NNBA). The move is bad and unbecoming of the association. The NBA should sit down, reposition itself and avoid unnecessary controversy next time. While the dust of NBA and El- Rufaiâ&#x20AC;&#x2122;s controversy is yet to settle, another melodrama ensued between the former minister of aviation, Femi FaniKayode, and reporter of Daily Trust newspaper, Charles Eyo. Fani-Kayode, another controversial politician, stirred the hornet nest during a press conference in Cross River State. If we could recall, FFK as fondly called, had begun a tour to PDP controlled-states to assess their performance in office. During the media briefing, Charles Eyo, landed himself in trouble. He asked the former minister a question on who is bankrolling his trips. This simple and professional question raised FFK body temperature and insulted the reporter. Although, FFK has finally accepted his mistake and apologized after condemnation by the Nigeria Union of Journalist (NUJ) and others, the FFK and Charles saga is just a tip of the iceberg on how journalists are treated with disdain. There are many incidents where journalists are attacked, maimed, and killed in the course of their lawful duties. The NUJ should continue to protect its members and the profession. Ibrahim Mustapha, Pambegua, Kaduna State

GHANA SIMPLY HITTING BACK

ith Ghanaians being regaled with news stories that Nigeriaâ&#x20AC;&#x2122;s economy is contracting, security of lives and property not guaranteed by the central government, and businesses packing out of Nigeria with Ghana as favourite destination, older ones over there will be bemused to remember the 1983 incident where many illegal immigrants, mostly Ghanaians were expelled from Nigeria through an executive order by President Shehu Shagari in an exodus-drive that has left its mark in the lexicography of Nigeria as â&#x20AC;&#x153;Ghana Must Go?â&#x20AC;? The designation â&#x20AC;&#x153;Ghana Must Go,â&#x20AC;? now used as descriptive term for a cash-store jute-like tough bag, has its origin in the very shameful circumstance because Nigerians parodied the Ghanaians as having no better carriage-bag for all their years of toil in-country than a cheap jute bag to transport all they had worked for in Nigeria. It is always with a sense of wry and dry humour and a heavy dose of guffaw that we chortled about â&#x20AC;&#x153;Ghana Must Goâ&#x20AC;? in our national discourse. Those older Ghanaians who remember the shame brought upon their nation are now in positions to exact revenge on Nigerians especially now that Nigeriaâ&#x20AC;&#x2122;s economy continues to plunge downhill. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

FRIDAY SEPTEMBER 4, 2020 â&#x20AC;¢T H I S D AY

FRIDAY SEPTEMBER 4, 2020 â&#x20AC;¢ T H I S D AY

T H I S D AY ˾ FRIDAY SEPTEMBER 4, 2020

POLITICS

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

Opara’s Bourgeoning Milestone Austin Uganwa pours eulogies on Rt. Hon. Austin Opara, former Deputy Speaker of the House Representatives for playing various stabilising roles, particularly between 2003 and 2007

ormer deputy speaker, House of Representatives, Rt. Hon. Austin Adiele Opara turned 57, Saturday, August 29. For his political associates, former colleagues in the National Assembly, business partners and teeming enthusiasts this milestone is essentially enthralling, cheering and worthy of celebration. Unlike many politicians of our time, Opara’s humility, approachability and pleasant mien endear him to many. And this is inexorably linked to his humble beginnings and piousness resulting from his inimitable parental tutelage. Opara’s bewitching attitudinal patterns became far more manifest when he was a presiding officer of the House of Representatives at the wake of the new millennium between 2003 and 2007. He freed his office from undue protocol and officialdom. His office thus turned out to be a hub of activities. His constituents and friends flowed freely to see him. His colleagues were overawed by his meekness and unrivaled listening ears classifying him as the rallying point of the House. These realities account for the large army of supporters, friends and admirers still milling around years after leaving the political office. At 57, Opara is known for his panache, consistency, assiduousness and reliability in politics. Since 1998 he played a formidable role in the formation of the Peoples Democratic Party in Rivers state, he has remained bonded and wedded to the party. Contrary to the glibness of some politicians who brazenly jump from one party to another, Opara has never abdicated PDP for any other party. Over the years, he has been working closely with Governor Nyesom Wike and Prince Uche Secondus to build and consolidate PDP at state and national levels. He has as well been supporting Governor Wike towards the accomplishment of his vision for the state. As chairman of the 2019 Rivers State Governorship Inauguration Planning and Handover Committee he put in place an effective continuity roadmap for the re-elected governor anchored on Wike’s infrastructural revolution initiative. Wike’s conscientiousness and dedication to the roadmap have been yielding positive results. Earlier in the year, Opara was sent to Edo state by the PDP at the national level to supervise the party’s congress held in the 18 local councils in the state in February 2020. He latched on this critical assignment to inject treasured and genuine inputs into PDP Edo desirable for its revitalization and consolidation. It was on this score that he predicted PDP’s victory in the nearing governorship election slated for September 19, 2020. He told journalists after the PDP congress in Edo state: “I can tell you from what we have done in the state; PDP can only come out stronger during the governorship election and emerge victorious.” This prediction was made before Governor Godwin Obaseki joined the party last month. Consistent with Opara’s insight the chances

I can tell you from what we have done in the state; PDP can only come out stronger during the governorship election and emerge victorious

Is Ghana Turning to a Scourge of the Nigerian Nation? Ignatius’Nat Muotoh views the unfortunate ill-treatment of Nigerians in Ghana as a direct reflection of failure of successive Nigerian governments to record a progressive scorecard and ensure the safety of lives and property of her citizens, wherever they legitimately reside

here goes a popular Igbo proverb that says “when an adult behaves like a mouse, the cat automatically hunts it down for food.” Nigerians have watched with shock, the xenophobic and discriminatory events unfolding in Ghana, and directed specifically at Nigerian nationals doing legitimate businesses in that country. The Ghanaian officials had recently sealed off the shops belonging to Nigerian traders in Accra for allegedly failing to have the ($1million) one-million-dollar equity stipulated by the Ghana Investment Promotions Council. This amount by any means, is considered unrealistic and unreasonable. It’s quite important to state right here, that Ghana, a sister country in the West African Sub-region is a member of the Economic Community of West African States (ECOWAS) also, with its headquarters at Abuja Nigeria. To so many of us, this unprecedented demand by the Ghana Investment Promotions Council, is simply another way of labelling all Nigerian businessmen and women operating legitimately in that country, ‘persona non grata’ and as such, are requested to eave Ghana. As much as a nation has the right to do as she pleases within her territories, this unprecedented demand by a Ghanaian government agency, is indicative of a ‘new low’ successive Nigerian governments have plunged the Nigerian state into. It might suffice to state here, that the government of Ghana will never contemplate making such an unreasonable demand from the nationals of say South Africa, Rwanda or Britain who

operate their legitimate businesses in Ghana. Unreasonable and discriminatory as it is, these measures reminds one of the ‘good old days’ for Nigeria. There was a time, when having a Nigerian passport was the vogue and a matter of pride. I still remember the good old days when as a Nigerian, one can walk into any British High Street Bank in major cities of the United Kingdom, with the Naira and come out 10 minutes later with £0.78p to your N1 (being the exchange rate at that time). I’ll gladly add that one was not even required in those days, to complete any complicated application form that may require your details and that of your extended families for such transaction. Those were the days when one naira exchanged for five thousand Ghanaian cedis (N1/GHC5,000). It was also the days when ‘Ghana-Must-Go’ jute bags were carried by Ghanian refugees like bouquet of flowers in all corners of Nigeria. I also remember as a young Nigerian student in England; walking into an exclusive nightclub/restaurant in the company of my fellow students from Kenya, Zambia and Ghana. When asked by the doorman to identify ourselves and where we come from, my friends claimed that they are Nigerian nationals also. Those were the days, when it was a thing of pride to introduce oneself as a Nigerian. Not anymore. Today, one needs N600 to exchange for a £1 if one is lucky enough to complete such transaction before the Naira depreciates further. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

of PDP winning the governorship election are now on the rise and much more convincing Opara’s frontline role in the 2020 Edo PDP congress clearly underscored his selection as a member of the PDP National Campaign Council on Edo governorship election. The council which is headed by the Rivers State Governor, Nyesom Wike is mandated to support and collaborate with the State Council towards ensuring the victory of PDP during the oncoming governorship polls. When the Council met in the River State Government House, Port Harcourt, July 14, 2020 Opara was one of the notable members who attended to draw up a roadmap and hands-on strategies on how PDP would enlist victory at the governorship polls. The deeply troubled nature of the planned poll accentuated by the manifested overzealousness and bias disposition of the security operatives deployed to the state by the ruling APC federal government enhances the challenges faced by Wike-headed PDP campaign council. It is however imperative to recollect that as a presiding officer of the House of Representatives at a young age of 39 Opara played a leading role in defining the nascent National Assembly in the new millennium. At 57 he deserves to be celebrated significantly over consensus- building and stabilizing role he played at such an embryonic phase of the Fourth Republic National Assembly when it faced lots of challenges, leadership instabilities and edgy relationship with the executive arm. Apart from serving as deputy speaker of the House, at 57 Opara has held other strategic political positions, Including: Chairman, House Committee of the Whole; chairman, House Constitution Review Committee, member, ECOWAS Parliament and Governing Council of the International Parliamentary Union, the umbrella body that governs all parliaments in the world. It was at the 103rd session of this body held in Manila, Philippines in 2005 that Opara canvassed strongly that the parliaments of advanced democracies should exert pressure on their executive arm to grant Nigeria debt relief and cancellation. This request coupled with the intensification of the debt pardon campaign on the international front by the then Olusegun Obasanjo headed government yielded positive results as $18b out of $30b Nigeria owed at time was histrionically cancelled. As a presiding officer, Opara evoked sterling leadership qualities and immeasurable degree of devotion to duties. The result was the inestimable latitude Masari who was speaker at that time gave to Opara to preside over the House plenary sessions. Opara thus set a result as one deputy speaker that chaired the highest number of plenary sessions since the inception of the Fourth Republic National Assembly in 1999. The House consequently witnessed significant transformation and an upsurge on the volume of committee tasks, quality and quantity of bills passed.

T H I S D AY ˾ FRIDAY SEPTEMBER 4, 2020

PERSPECTIVE VIEW FROM

AMERICA

chido@usafricaonline.com @Chido247

Racism, Basketball and Why LeBron will Not Shut up Chido Nwangwu, Founder, USAfrica commends the courage of African-American basketball superstar, LeBron James for deploying his immense wealth and inﬂuence against racism and inequality in the United States of America

“I

t’s just so sad….and they’re spewing this fear, right. Like, all you hear is Donald Trump and all of them talking about fear. We’re the ones getting killed. We’re the ones getting shot. We’re the ones who are denied to live in certain communities. We’ve been hung. We’ve been shot,” he continued, his voice cracking with emotion. “And all you do is keep hearing about fear. It’s amazing. Why do we keep loving this country, and this country does not love us back.” Doc Rivers, head coach of the Los Angeles Clippers broke down and cried as he talked about the police officers shooting at the back of yet another young Black man, unarmed and walking away, Jacob Blake in Kenosha, Wisconsin. With those words, the consciences of millions of Americans were awakened and sensitized to the facts of the painful discrimination and psychological trauma inflicted on Blacks in America. The video went viral and reminded Black folks of 500 years of slavery. Black lives, as far back since the ancient Greece and the Roman era, were expected to be limited to entertainment and provision of minstrels. Black men were used for brutal gladiatorial events to entertain White leaders and emperors. Sometimes, they were thrown into the lions den. Yes, you guessed right: to see the survival of the fittest. They were to be seen but not to be heard. This was carried into the slave era and post-slavery. From music through basketball and baseball and multiple forms of entertainment they were simply told to shut up and dance. Now, on the same issue of racism, let’s turn to LeBron James , America’s Number One basketball superstar and leader of the Los Angeles Lakers. I think, in some ways, he reflects the duality of the daily lives of the younger generation and the financially upper class African Americans. There is the duality of blessings and achievements versus frustrations and fears of being harassed or killed, most likely by policemen. Regardless, he does not exactly deal

with the kind of racist combustion faced by poor African-American youths all over America. Why? It’s all about the Benjamins! Money! Through the combination of his extraordinary skills as a basketball player, reasonable foresight as a business investor and the important component of personal and professional discipline, LeBron has since catapulted himself from the high school phenom to a global superstar worth more than thousands who have played the game before him. But I must say to LeBron James’ credit that he has been speaking up and putting pressure through organizing other superstars, resisting and rejecting police brutality and systemic racism. I commend him. More important is the fact that he’s no longer simply another entertainer; he has grown in stature and substance by the fact of his social influence on public issues especially racism and justice in America. I am very happy that he has passed the stage where anyone will tell him to “shut up and dribbble.” Despite his money and fame he’s aware of the fact at the end of the day-after he displays his talent and capacity on the basketball courts, his fundamental existential realities remain: he has to deal with both systemic racism and the random, individualized ugliness of anti-Black and anti-African heritage bigotry. Therefore, the most important point and the challenge of our time will be to_understand that the recognition, value and respect of Black lives do not amount to the denigration of White lives. I am for the equality of human lives.

On the same issue of racism, let’s turn to LeBron James, America’s Number One basketball superstar and leader of the Los Angeles Lakers. I think, in some ways, he reﬂects the duality of the daily lives of the younger generation and the ﬁnancially upper class African Americans. There is the duality of blessings and achievements versus frustrations and fears of being harassed or killed, most likely by policemen

Edo, Dilemma of a Godfather Felix Oboagwina suggests that former Edo State governor and past National Chairman of the All Progressives Congress, Comrade Adams Oshiomhole may be served a dose of his own medicine, if the people reject his attempt to dictate the pace of governance in the state

hursday, August 13 2020: Under the dying embers of a setting sun and in the solemn assembly for a burial ceremony in Ewu town, Esanland in Edo State, mourners still found room to cross swords politically. It was the wake for the Late Pa Edward Orewele Akhuetie, a nonagenarian pensioner who served the Nigerian Ports Authority (NPA). A mixed multitude of family, friends and community had gathered under canopies erected outside his country-home to await the arrival of the priests and catechists billed to conduct the evening mass in honour of the Lagos-based Catholic. As his children and relatives floated around putting final touches to arrangements for the Christian wake and simultaneously appreciating guests who had come to pay their last respects, conversation flowed lavishly under the canopies with home-based folks taking the opportunity to do catch-up with cousins, kinsmen and wellwishers from within and outside town. Somehow, politics elbowed its way into the fellowship. In no time, two camps emerged: Loyalists to the All Progressives Congress (APC) Governorship Candidate Pastor Osagie Ize-Iyamu and those for the incumbent Governor Godwin Obaseki now in the Peoples Democratic Party (PDP). Supporters on either side fiercely pushed their convictions. And soon the hush-hush whispers reserved for such a solemn gathering quickly gave way to robust and vociferous exchanges. “Ize-Iyamu will win the elections hands down and there is nothing anybody can do about it!” belched a man in the Esan language; someone identified him as a community youth leader. The Esan dominate Edo Central Senatorial District. Next to the majority Bini-speaking people who occupy seven out of the state’s 18 local government areas and reputedly constitute 57.14 percent of the state’s about 6 million population, Esan people make up 17.14 percent. The pro-IzeIyamu speaker and a few men with him wore caps boldly depicting the “POI” acronym of the APC Candidate. “What rubbish is this one spewing from his mouth?” retorted a known lecturer of the Ambrose Alli University (AAU) in the nearby town of Ekpoma 13 kilometres away. “Where will Ize-Iyamu get the votes from? I bet you, he will fail throughout Esanland!” Both men, sitting about 10 chairs apart, quickly drowned other voices in the conversation, as they fiercely flung stones of arguments over the heads of the gathering. “Come; let us teach you politics because you know nothing about what you are saying!” the youth leader mocked. Fuelled by the support of people around who cast spiteful glances and voices in the direction of the youth leader and his team, the lecturer sprang to his feet and advanced towards his antagonist. “Do you know who you are talking to? You should have bothered to first ask around about the identity of the man you are arguing with,” he fired. “Adams Oshiomhole, as Governor, abandoned AAU, starved the school of allocations and diverted the funds to Edo University, Iyamho (EUI) that he established in his hometown. And you want Esan people to vote for his man?” His rival fired right back: “That you are working in AAU does not mean you know what is happening there!” “Have the decency to speak sense!” the lecturer said. “I have worked in AAU for decades and I know what I am talking about!” AAU, founded in 1981, is sited in Ekpoma, part of the old Esan division in Edo State, while EUI was established in 2016 at Iyamho, Oshiomhole’s hometown in Edo North Senatorial District. “Oshiomhole today wants to play the godfather, after showing disdain for godfa-

thers in his own time. Is he the first governor to rule the state? John Odigie-Oyegun, Lucky Igbinedion and Oserheimen Osunbor all ruled before him and they allowed their successors the freehand to govern without breathing down their necks.” “Bha ta ma Oshiomhole, Edo iy’Eko!” someone chipped in. “Tell Oshiomhole, Edo is not Lagos!” That sentiment apparently goes beyond Ewu, nay beyond Edo State. Powerful forces at the APC national level are said to have sworn to ensure Oshio’s candidate lost the Edo polls as the final nail on the coffin of the supposedly oversized ego of the disgraced ex-Chairman and thereby bury him politically. Today, Oshio is weaker. Unlike what he reputedly did in past elections, he no longer has the faculty to dictate to INEC and security agents, having lost the seat of APC National Chairman (Obaseki engineered his expulsion from the Iyamho APC ward; and having become a persona non grata at home he lost the national position). “You can rant all you want, Obaseki will fall flat in this election!” the man in POI cap submitted. Then he went on to vilify the Governor for joining PDP and doling out appointments and N15 billion to his new party’s operatives (an allegation since denied by party chieftains like Chief Raymond Dokpesi). “Did he ever patronise us with such an amount throughout his four years with APC? We will show him how not to take people for granted!” The other fired back: “Why is Ize-Iyamu not projecting himself, why is Oshiomhole the one speaking at campaigns and not the candidate himself? Oshiomhole wants a third term and when he could not get it through Obaseki, he now settled for someone who cannot stand up to him. Quite simple, IzeIyanmu lacks the character for the position. Oshiomhole already destroyed him in the last election and exposed his dirty linens.” Actually, Oshiomhole exhibited a certain daredevil cockiness selling as his party’s 2020 candidate the same man he himself grossly de-marketed in 2016 as a fraud, a corrupt and a gangster. Did he not thereby take upon himself an onerous task akin to selling snow to the Eskimos? A man seated by the lecturer, who had by now returned to his seat, chipped in: “They had to even beg Buhari to allow Iyamu into Aso Rock because the President initially distanced himself from him over the corruption charge he is facing from EFCC. And this is Buhari and APC who say they are fighting corruption. Can you imagine that they jailed Olisa Metuh (former PDP spokesman) for stealing N400 million, but Ize-Iyamu is facing charges of embezzling N700 million and Buhari shamelessly presented him with the flag as his party’s candidate.” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

FRIDAY SEPTEMBER 4, 2020 â&#x20AC;¢T H I S D AY

T H I S D AY ˾ SEPTEMBER 4, 2020

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 13.90 % 14.90 %

CALL 1-MONTH 3-MONTH

7.25 % 8.19 % 9.13 %

A U G U S T S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875

2 8 , 2 0 2 0

592.04 % -0.15 % -3.60 %

S & P INDEX 1/4 TO DATE 5.19 % YEAR TO DATE 23.04 %

EXCHANGE RATE N379/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Emirates, Flydubai Reactivate Partnership

COURTESY VISIT

L-R: Executive Director, Corporate Service, Nigeria Export Import Bank (NEXIM), Dr Bala Bello; Managing Director, Abba Bello; Gov.Darius Dickson Ishaku of Taraba State, and Executive Director, Business Development, Mrs. Stella Okotete, during the governor’s visit to NEXIM’s oﬃce in Abuja...recently

Forex Scarcity Worries Airlines, Operators Seek Intervention Chinedu Eze The Chief Executive Officer of Aero Contractors, Captain Ado Sanusi has said the inability of Nigerian airlines to secure foreign exchange was affecting their operations. According to him, owing to this, domestic carriers are finding it difficult to acquire spares, carry out maintenance of their aircraft, pay for technical training of personnel and lease aircraft. Sanusi, while speaking with THISDAY, therefore called for intervention by the Central Bank of Nigeria (CBN). The Aero CEO said the situation was one of the reasons why the operators had been demanding palliatives from government, saying because if

AVIATION government fails to rescue the airlines many of them would eventually go under. Sanusi stressed that the airlines cannot continue to source forex from the autonomous markets, saying banks were not even willing to assist in this regard. According to him, airlines had defaulted in payment of subscriptions and leases due to the difficulty in securing forex. “The local airlines will survive only if the federal government provides foreign exchange for them. We cannot continue to source foreign exchange from autonomous markets at N470 to a dollar even if you go there, you might find it difficult to find

the dollar,” he said. Lamenting the situation in the sector, the Aero CEO explained that this had greatly affected his airline as he had returned helicopters and aircraft engines to their owners because the company could not source forex to pay for the leases. “I have returned two engines, I have returned helicopter, subscription for Boeing is due and am still trying to plead with them to give me another month because am still pleading with the bank to give us foreign exchange and they are saying the waiting period is three months, nobody will wait for you three months to pay your lease rental or to pay your subscription.”

Sanusi noted that efforts being made by the Airline Operators of Nigeria (AON) to draw the attention of the federal government appeared not to be yielding results. “We are looking for dollars to pay for subscriptions to pay for engine leases and to sustain our operations. “Yes, I am sure the AON has written and a lot of people have written but we would also make a position known and I believe the federal government understands that they must intervene immediately or airlines will going under one by one,” he warned. On his part, the Chief Executive and Managing Director Continued on page 22

Shippers’ Council to Meet CBN over Elimination of Third Parties’ Form M Eromosele Abiodun The Nigerian Shippers Council (NSC) may meet the Central Bank of Nigeria (CBN) over its new circular on Form ‘M’ in which the regulator directed banks to end the era of opening Form ‘M’ in which payment is made through third party, agent or buying company. CBN had in the circular released last week said this was to end decades of overinvoicing and foreign exchange scam through which some importers and other businesses use to secure more foreign exchange allocations from banks. But the Manufacturers Association of Nigeria (MAN) said the good intention of the CBN was inimical to the survival of many manufacturers who may not be involved in any trade malpractices.

MARITIME Speaking at a forum on the matter organised by the NSC, MAN added that most manufacturers, particularly small and medium sized enterprises (SMEs) go through accredited agents for their supplies, adding that many Original Equipment Manufacturers (OEMs) overseas do not supply goods directly to individual buyers. Similarly, the Association of Nigerian Licensed Customs Agents (ANLCA) criticised the CBN circular, saying it was aimed at reintroducing pre-shipment inspection of imports through product price verification as against Destination Inspection (DI). In a chat with newsmen at the sideline of the forum, the Executive Secretary, NSC, Mr. Hassan Bello, said the council

as the ports economic regulator would be meeting the MAN, Lagos Chamber of Commerce and Industry (LCCI), freight forwarders associations and other stakeholders to aggregate their comments on the new CBN policy on Form ‘M’. Bello said the council would after aggregating the views of critical stakeholders, look at what the CBN was doing, insisting that this was because the apex bank has done a lot. He said, “Recently, I was at the Export Promotion Council and this issue came up. But we are still studying the situation and will make appropriate pronouncement.” Also speaking, the Vice President of ANLCA, Dr. Kayode Farinto, told newsmen that such product price verification policy by CBN could mean that the CBN wants to bring back pre-shipment inspection

and do away with DI. He said what this meant was that the CBN would be engaging pre-shipment inspectors through the back door in total disregard to article seven of the general agreement on tariff and trade which requires five to six principles before a price is agreed that Nigeria has entered into in agreements and protocols. He also said the implication of banning third party agreements in Form ‘M’ would affect Nigerian imports negatively, arguing that it could lead to job losses. “The CBN said that to ensure prudent use of foreign exchange resources and eliminate incidences of over-invoicing, transfer pricing, double handling charges, and avoidable costs that are ultimately passed to the

Emirates and Flydubai have announced that customers of both airlines can once again access a wider range of travel options around theworld,connectingseamlesslyandsafelythroughDubai.Following theprogressiveresumptionofpassengerflightstoglobaldestinations, thetwoDubai-basedairlineshaverevivedtheirsuccessfulandstrategic partnership to offer customers increased connectivity, convenience andtravelflexibility.Emiratescustomerscannowtraveloncodeshare flights to over 30 destinations on Flydubai, while Flydubai customers haveover70destinationstheycantraveltoonEmirates.Someofthe favouriteflydubaidestinationsforEmiratespassengersinclude:Belgrade, Bucharest, Kyiv, Sofia and Zanzibar. Commenting on the renewal of the partnership, Emirates’ Chief CommercialOfficer,AdnanKazimsaid,“Wearedelightedtoannounce thatourcustomerscanonceagaintakeadvantageofthecomplementary strengthsofEmiratesandFlydubaitoaccessanenhancednetworkof citiesonasingleticketandintegratedloyaltyprogramme,enjoyasafe, smooth and stress-free transfer experience through Dubai and have their baggage checked through to their final destination. “The partnership has crossed a number of successful milestones since its inception in 2017 and over the coming months, Emirates and Flydubai will be working together to re-open even more of the world for our customers.” Chief Commercial Officer at Flydubai, Hamad Obaidalla said: “We are confidentthatthedemandfortravelwillcontinuetoincreaseasmore countriesgraduallystarttoliftrestrictionsoninternationaltravel.“Flydubai has restarted operations to 32 points around the network since June andweexpectthenumbertosteadilygrowoverthenextfewmonths. “Dubai has put strong health and safety protocols in place which has encouragedwellinformedpassengerstotravel,whetherforbusiness, leisure or to reunite with their loved ones.”

July Air Cargo Demand Stable’

TheInternationalAirTransportAssociation(IATA)hasreleaseddatafor globalairfreightmarketsinJuly,showingaircargodemandwasstable but at lower levels than 2019.While there was some month-to-month improvement,itwasataslowerpacethansomeofthetraditionalleading indicatorswouldsuggest.Thiswasduetothecapacityconstraintfromthe lossofavailablebellycargospaceaspassengeraircraftremainparked. Globaldemand,measuredincargotonne-kilometers(CTKs),fellby13.5 per cent in July (-15.5% for international operations), compared to the previous year. That is a modest improvement from the 16.6 per cent year-on-yeardroprecordedinJune.Seasonally-adjusteddemandgrew by2.6%month-on-monthinJuly.Globalcapacity,measuredinavailable cargotonne-kilometers(ACTKs),shrankby31.2percentinJuly(32.9% for international operations), compared to the previous year.This is a small improvement from the 33.4 per cent year-on-year drop in June. Belly capacity for international air cargo shrank by 70.5 per cent in July compared to the previous year.This was due to the withdrawal of passenger services amid the COVID-19 pandemic. This was partially offset by a 28.8 per cent increase in capacity through expanded use of freighter aircraft.

Qatar Oﬀers More Connectivity

QatarAirwaysGroupChiefExecutive,Mr.AkbarAlBaker,hassaidthe airline will increase its global connectivity. “Weareproudtobetheleadingglobalairlineconnectingpassengerswith the world, operating one of the youngest, and most fuel-efficient and sustainablefleetstotakepeoplesafelytowheretheyneedtobe.“The gradualrebuildingofournetworkhasbeenfocusedonstrengthening connectionsbetweenourhubinDohaandkeygatewaysaroundtheworld aswellasmajorbusinessandleisuredestinations.“Theresumptionof flights to Philadelphia will provide seamless connections via our U.S. partnerstoseveralkeydomesticpointssuchasAtlanta,DetroitandMiami. “Similarly,theincreaseinfrequenciestoDjibouti,HoChiMinhCity,London andNewYorkwillprovidefurtherairfreightcapacitytotheseimportant trade and economic centres. “Therecoveryofinternationaltravelwilltaketimebutreturningtoover 50 per cent of our pre-COVID-19 network is a significant milestone. “Restoring passenger confidence is key, and we are proud to lead the industry by offering one of the most flexible and generous booking policies that enables customers to plan their travel with confidence. “Bycontinuingtoflyduringthepandemicwhileothersstopped,wehave gained the trust of passengers as an airline they can rely on.”

“The reopening of Enugu airport will bring relief to the people of the entire south East and other neighboring states like Cross River, Kogi and Benue who make use of the airport” Chairman, House Committee on Aviation,

Hon. Nnolim Nnaji Continued on page 22

T H I S D AY Ëž SEPTEMBER 4, 2020

BUSINESSWORLD FOREX SCARCITY WORRIES AIRLINES, OPERATORS SEEK INTERVENTION of Overland Airways, Captain Edward Boyo lamented that airlines revenue was little in the airfares charged passengers because of the high amount of tax added to the fare. â&#x20AC;&#x153;We, the airlines are just tax collectors with no compensation at the end of the day. Imagine from the $99 fare you have to pay: Navigational Charges, Landing fee, Parking fee, Handling fee, Fuel charge, Power by the Hour, Fuel and Oils. Lease cost, Admin, Finance and other costs,â&#x20AC;? Boyo said.

SHIPPERSâ&#x20AC;&#x2122; COUNCIL TO MEET CBN OVER ELIMINATION OF THIRD PARTIESâ&#x20AC;&#x2122; FORM M average Nigerian consumers, they are eradicating third party involvement in Form-M. â&#x20AC;&#x153;Whoever signed this circular does not have the interest of Nigerians at heart because what this policy means is that there wonâ&#x20AC;&#x2122;t be third-party involvement in Form-M again. Why is the CBN dabbling into fiscal policy issues? Why is CBN not focusing on the monetary policy function that is germane to its operation? â&#x20AC;&#x153;Kayode added. â&#x20AC;&#x153;In the last one year, some items have been on the forex prohibition list, causing many importers not to want to declare what they bring in. As if this is not enough problem for us at the ports, the CBN alters the Naira exchange rate at its own whims and caprices. â&#x20AC;&#x153;You can wake up tomorrow and the Nigerian Customs Services (NCS) will tell you that the CBN has changed the exchange rate. Now the CBN has banned third-party involvement in Form-M issuance. This is killing trade and will affect the nationâ&#x20AC;&#x2122;s import volume. â&#x20AC;&#x153;Globally, outsourcing is acceptable. There is no way we can do away with third party arrangement with the way global trade currently is. The CBN policy on Form-M is going to kill a major component of trade and ultimately kill our economy. â&#x20AC;&#x153;What we expect CBN to be doing is to look at how to stabilise our exchange rate which has been fluctuating in the last four months,â&#x20AC;? he argued.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Ogene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Ă&#x2039;Ă&#x2019;Ă?Ă?Ă&#x2014; Ă&#x2022;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă&#x152;Ă&#x2122;Ă&#x2013;Ă&#x; (Advertising) Correspondents

Ă&#x2019;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x17D;Ă&#x; Ă¤Ă? (Aviation) Ă&#x153;Ă&#x2122;Ă&#x2014;Ă&#x2122;Ă?Ă?Ă&#x2013;Ă? Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Ă&#x2014;Ă&#x2014;Ă&#x2039;Ă&#x2DC;Ă&#x;Ă?Ă&#x2013; Ă&#x17D;Ă&#x17D;Ă?Ă&#x2019; (Energy) Reporters

Ă&#x;Ă&#x2014;Ă? Ă&#x2022;Ă?Ă&#x2018;Ă&#x2019;Ă? (Money Market) Ă&#x2122;Ă?Ă&#x2039; Ă&#x2013;Ă?Ă&#x2022;Ă&#x2019;Ă&#x;Ă&#x2122;Ă&#x2018;Ă&#x201C;Ă? (ICT) Ă?Ă&#x17E;Ă?Ă&#x153; Ă¤Ă&#x2122;Ă&#x2019;Ă&#x2122; (Energy)

NEWS

Report: Ports Lose $55m Daily to Congestion Eromosele Abiodun A report by Dutch consultancy firm, Dynanmar has revealed that widespread congestion at the Nigerian ports is costing the Nigeria about $55 million (N20.8 billion) per day. The Dutch consultancy firm said solutions to the persistent congestion at Nigerian ports are multiple, and must include a collaborative element. Dynamar in the report posted on its website expressed worries that the congestion in Nigerian ports is persistent, stressing that stakeholders are all busy pointing fingers at others rather than developing solutions. Senior Shipping Analyst and Consultant at Dynamar, Darron Wadey, said: â&#x20AC;&#x153;This is a very joined-up problem, with no single cause and therefore no single solution. The solution will, therefore, need to be joined-up and tackle all the issues raised.â&#x20AC;? According to the report, â&#x20AC;&#x153;services have been diverted from Lagos terminals at Tin Can and Apapa to ports as far as 1,500km south of Lagos, in Pointe Noire in the Republic of Congo, with transhipment back to Nigeria. Even carriers such as CMA CGM and Maersk Line, who have vessel calls in Lagos ports have diverted cargo, as the delays to ships were approaching 30 days on

weekly services. â&#x20AC;&#x153;The services diverted included CMA CGMâ&#x20AC;&#x2122;s joint services with Maersk Line, the FEW2 and the Midas/Mesawa from the Middle East to the Indian Subcontinent. Both these services were diverted to Pointe Noire. A joint service operated by Arkas, CMA CGM and Hapag-Lloyd placed two extra vessels on the WAS/ EuropeAfrique2/MWX service

from the Mediterranean.â&#x20AC;? The report added that: â&#x20AC;&#x153;Even these were insufficient to return it to a weekly operation. In addition, the service decided to skip the APMT Apapa facility. Cargo destined for there would be discharged at Tin Can and barged at Hapag-Lloydâ&#x20AC;&#x2122;s account, to the BollorĂŠ operated inland KCT Terminal in Lagos.â&#x20AC;? These, according to Wadey,

were the practical consequences of the situation in Nigeria, and there appears to have been little or no improvement this year. Dynamar believes that the economic consequences of the congestion now exceed $55 million daily, and the situation has increased the cost of inland connections. â&#x20AC;&#x153;Rates for inland haulage were quoted as perhaps

being as high as $1,100 for a 20â&#x20AC;&#x2122; container, and maybe $2,700 for a 40â&#x20AC;&#x2122;, depending upon final destination, â&#x20AC;?the report stated. The report observed complaints at the high level of physical examination of cargoes required, and the fact that consignees or their representatives are required to complete documentation at the port.

SPECIAL RECOGNITION

CEO of E-Tranzact, Mr Niyi Toluwalope (left), receiving the GAGE Awards trophy for â&#x20AC;&#x2DC;Best Digital Financial Platform of 2019,â&#x20AC;&#x2122; from the administrator, Mr Johnson Anorh, in Lagos...recently

FG to Provide Affordable Learning Devices for Students Emma Okonji The federal government has said it is working with state governments and some development partners to improve the countryâ&#x20AC;&#x2122;s education system by making it more digitally accessible as part of its response to the effect of the COVID-19 pandemic on the sector. Senior Special Assistant on Education Interventions to President Muhammadu

Buhari, Obafela Bank-Olemoh, who disclosed it, said going forward, one of the key areas that Nigerians are going to see a lot of funding from both the federal and state governments towards the education sector, would be in the area of devices. â&#x20AC;&#x153;How do we get cheap and affordable devices into the hands of school students? Itâ&#x20AC;&#x2122;s a key thing that we are working on,â&#x20AC;? he said. Bank-Olemoh who spoke

at MTN Nigeriaâ&#x20AC;&#x2122;s The Revv Programme masterclass on â&#x20AC;&#x2DC;Education without Borders and Boundariesâ&#x20AC;&#x2122;, said: â&#x20AC;&#x153;The Revv Programme is an initiative from MTN Nigeria to help small businesses rethink and relearn their operations to enable them mitigate against the effect of the COVID-19 pandemic using a four-pronged approach that includes master classes, access to market, productivity tools support and advisory initiatives.

â&#x20AC;&#x153;Nigeriaâ&#x20AC;&#x2122;s education sector has been one of the most affected by the pandemic. Since the government instituted lockdown to slow the spread of the coronavirus, schools across the country have remained closed. The federal and state governments plan to have the resumption happen soon; however, no date has been fixed.â&#x20AC;? According to him, the COVID-19 pandemic compelled

state and federal governments, along with development partners, to rethink Nigeriaâ&#x20AC;&#x2122;s education system. â&#x20AC;&#x153;The reality has changed how we do education whether at the state or federal level. Whether we like it or not, we have to provide devices for our children; this is because if something like this happens the second time, we canâ&#x20AC;&#x2122;t make the excuse of not planning for it,â&#x20AC;? Bank-Olemoh said.

Rivers Signs Water Supply Contract for Port Harcourt Metropolis Ernest Chinwo in Port Harcourt Rivers State Government has signed contracts for the rehabilitation and upgrading of 496 kilometres of pipeline to produce 330,000 cubic meters of potable water per to Port Harcourt and Obio/Akpor Local Government Areas. The Managing Director of Port Harcourt Water Corporation, Chief Ibibia Walter, signed on behalf of the Rivers State Government while Chen Kangle for CGC Nigeria limited, Yang Gengqi for Top International

Engineering Corporation and Iskandar Taslakian signed for Mothercat Limited, contractor handling the project. Speaking at the contract ceremony, Rivers State Governor, Nyesom Wike, said the project would create 1,200 direct jobs and 5,000 indirect jobs, and advised the contractors handling the projects not to compromise the agreed standard. The governor urged the contractors to mobilise to site preparatory for the expected project flag-off on October

1, 2020 and warned that the state would not compromise the quality of work and timely delivery of contracts as he would be visiting the project sites to monitor progress and compliance with specification. â&#x20AC;&#x153;I am requesting the African Development Bank (AfDB) that will finance the project to do so with 100 per cent cost of net of taxes. â&#x20AC;&#x153;The COVID-19 pandemic presented huge challenges, as the accruable revenues both to Federal Statutory Allocation and Internally Generated Revenue

has dropped. â&#x20AC;&#x153;The Commissioner of Water Resources and Rural Development and the Managing Director of Port Harcourt Water Corporation should engage AfDB with the view to get the Bank to finance 100 per cent of the cost of the project net of taxes. â&#x20AC;&#x153;I am aware that the loan closing date is April 2021. I am directing the commissioner and the managing director to submit application to the Federal Ministry of Finance and AfDB to extend the duration

of the loan by two years to enable full implementation of all components of the urban water sector reform. â&#x20AC;&#x153;They should further engage AfDB with a view of restoring the works at Trans-Amadi, Abuloma, Woji and Elelenwo regrettably cancelled by other Development Partners,â&#x20AC;? he stated. Wike stated that he would not hesitate to fully implement the Port Harcourt Water Corporation (PHWC) restructuring and organisational build-out report when it is ready.

FG Directs ITF to Harmonise Skills Devt Programmes of MDAs Seriki Adinoyi in Jos The federal government has directed the Industrial Training Fund (ITF) to harmonise all skills development initiatives by Ministries, Departments, and Agencies (MDAs) across the country as enshrined in the ITF Act. This, the government stated, was to help achieve greater results in Technical and Vocational

Education and Training (TVET). The directive came from a virtual meeting of critical stakeholders and partners in skills acquisition that was chaired by the Vice President, Prof. Yemi Osinbajo to consider a report on the success and progress of the ITF-NECA Technical Skills Development Project (TSDP). A statement signed by the head of public affairs of ITF, Mrs. Suleyol Fred-Chagu said the

Vice President commended the initiative between the ITF and Nigeria Employersâ&#x20AC;&#x2122; Consultative Association (NECA) and lauded the determination of the two organisations to escalate skills development in the economy. The meeting was attended by the Ministers of Labour and Employment, Dr. Chris Ngige, Youth and Sports, Mr. Sunday Dare, also had representatives of the Minister of Education in

attendance. The Director-General of the ITF, Joseph N. Ari, in the statement, pledged his commitment to ensuring immediate implementation of the directive of the Vice President to harmonise technical and vocational skills training in the Nigerian economy as enshrined in the ITF Act. He described the decision as a welcome development, as it would lead to greater synergy

and cooperation between and amongst Government Agencies involved in Skills Acquisition for job and wealth creation. He said such collaboration would lead to greater multiplier effect, reduce wastages as well as duplication of efforts, adding that it was for these reasons that the ITF had over the years advocated for Agencies of Government to work together rather than in silos.

T H I S D AY Ëž Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

IATA Calls for Improved Global Connectivity Stories by Chinedu Eze The International Air Transport Association (IATA) has called on governments to work together to urgently find ways to re-establish global connectivity by re-opening borders and to continue with relief measures to sustain airlines during the COVID-19 crisis. IATAâ&#x20AC;&#x2122;s call reflects deep industry frustration as government policies such as closed borders; travel restrictions and quarantines continue to annihilate travel demand. The global body said this was evident in a disappointing â&#x20AC;&#x153;peak (Northern Hemisphere) summer travel seasonâ&#x20AC;? that saw minimal improvements compared to the May-June period, as four in five potential travelers stayed home, based on comparisons with the yearago period. â&#x20AC;&#x153;Protecting their citizens must be the top priority of governments. But too many governments are fighting a global pandemic in isolation with a view that closing borders is the only solution. Itâ&#x20AC;&#x2122;s time for governments to work together to implement measures that will enable economic and social life to

resume, while controlling the spread of the virus,â&#x20AC;? said IATAâ&#x20AC;&#x2122;s Director General and CEO, Alexandre de Juniac. Specifically, IATA calls for governments to grasp the seriousness of the crisis facing the airline industry and its consequences for their citizens; and IATA urges governments to focus their attention on these key issues: re-opening borders, continuing relief measures and global leadership. IATA said the world remains largely closed to travel despite the availability of global protocols to enable the safe re-start of aviation developed by governments through the leadership of the International Civil Aviation Organization (ICAO) with the support of the World Health Organization (WHO). This guidance covers all aspects of the passenger journey and recommends sanitary measures to keep travelers safe and reduce the risk of importing infection. â&#x20AC;&#x153;Airlines have been largely grounded for a half-year. And the situation is not improving. In fact, in many cases it is going in the wrong direction. We see governments replacing border closures with quarantine for air travelers. Neither will

restore travel or jobs. Worse, governments are changing the entry requirements with little notice to travelers or coordination with their trading partners. This uncertainty destroys demand. Ten percent of the global economy is sustained by travel and tourism; governments need to do better to re-start it,â&#x20AC;? said de Juniac. The prerequisite to open borders is the ICAO Take-off guidance. Additionally, IATA is proposing travel bubbles to mitigate risks between specific markets and foresees a much wider and strategic use of COVID-19 testing as technology improves accuracy, speed and scalability. â&#x20AC;&#x153;No government wants to import COVID-19. Equally, no government should want to see the economic hardships and associated health impacts of mass unemployment. Successfully getting through this crisis requires careful risk-management with effective measures. If government policies focus on enabling a safe re-start, aviation is well-prepared to deliver. Risk-management is a well-developed discipline that airlines rely on to keep travel safe and secure,â&#x20AC;? said de Juniac.

Virgin Atlantic Expands Network Virgin Atlantic has announced that it would be adding five additional services from September 1, 2020 onwards. The airline said as countries around the world start to relax travel restrictions, Virgin Atlantic would resume flying from London Heathrow to Delhi, Tel Aviv, Atlanta, Mumbai and Lagos throughout September, with additional routes being added throughout 2020 followed by a further, gradual recovery through 2021 in line with customer demand. Chief Commercial Officer at Virgin Atlantic commented, Juha Jarvinen said, â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;re

continually reviewing our network and as countries begin to open up their borders, weâ&#x20AC;&#x2122;re introducing more and more flying. â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;re incredibly excited to resume services to Delhi, Tel Aviv, Atlanta, Mumbai and Lagos this September as well as increasing the frequency to other destinations. Weâ&#x20AC;&#x2122;re now offering daily flights to New York JFK and Los Angeles and twice weekly flights to Shanghai. Weâ&#x20AC;&#x2122;ll also be restarting flights to further destinations from October onwards, including new services to Pakistan from

both London Heathrow and Manchester. â&#x20AC;&#x153;We canâ&#x20AC;&#x2122;t wait to welcome our customers back onboard and flying them safely to their destinations - whilst our services may temporarily be little different and our crew will be wearing masks, they will be smiling behind them and working incredibly hard to deliver the experience we know our customers love. Initial feedback from our customers on our restart services has been overwhelmingly positive, flying safe and well, returning to the skies with confidenceâ&#x20AC;?.

SAHCO Boss Wins Award The Managing Director/CEO, Skyway Aviation Handling Company (SAHCO) PLC, Basil Agboarumi has been awarded Leads Africaâ&#x20AC;&#x2122;s Patriotic Personality Awards by The League of African Development Students (LEADS). LEADS is the umbrella body for all Democratic Students Unions in Africa which started in 1985 at the Bayero University, Kano with the objective of sensitizing its members on Development of Best Practices and now represents 25 countries in Africa. Speaking during the awards presentation, which took place in Lagos, the Secretary General of LEADS, Osisiogu Osike said the organisationâ&#x20AC;&#x2122;s quest for role models led the team to Agboarumi who they described as a rare gem and a role model to the youths

in Africa, having steered SAHCO to greatness in the past two years. â&#x20AC;&#x153;In doing this, we seek to find ourselves role models, outstanding institutions and mentors in life as we found in Skyway Aviation Handling Company (SAHCO) PLC and her Managing Director/ CEO, Basil Agboarumi. He is a renowned corporate and public affairs person per excellence who midwifed the re-branding of SAHCO, he has an impressive and exemplary antecedence in aviation ground handling practice, having had a vibrant, dynamic and remarkable two decades of immense contributions and indeed, oversight assignments. His sincere commitment to utmost innovation, reliability and professionalism in the subsector stands him out from his contemporaries,â&#x20AC;? Osike said.

In her remarks, Director of Gender, LEADS Africa, Okpebuo Jennifer, commended Agboarumiâ&#x20AC;&#x2122;s capacity and proficiency in private and public service, philanthropy and other assignments/ideas generation and implementation, describing him as â&#x20AC;&#x153;a patriotic Nigerian technocrat; an Innovative and gallant public servant, diligent, amiable, intelligent and humble patriot of impeccable antecedence.â&#x20AC;? She said that LEADS was there to celebrate the culmination of his superlative service history as â&#x20AC;&#x153;AFRICAâ&#x20AC;&#x2122;s Patriotic personality of the year. Responding to the award, the awardee, Basil Agboarumi thanked LEADS Africa for finding him worthy of recognition. He dedicated the award to God, then to all staff and Management of SAHCO PLC.

Matters Arising from Enugu Airport Reopening

Enugu Airport Runway Chinedu Eze While hundreds of highly placed Nigerians and others from the South East attended the reopening of the Akanu Ibiam International Airport, Enugu, there were many others from the region who criticised the reopening because work was yet to be completed on the projects. There was the runway, which has been expanded and totally upgraded. There were also other projects such as the international terminal where work has been going on; the installation of airfield lighting, which would enable flights operate in the night, the approach light that would guide pilots to the runway, water treatment plant, which would provide the volume of water needed for the airport to receive large body aircraft. As an international airport, it should have minimum standard fire cover and water cover for the category of airport and to meet the standard that would allow for international operation. But by the time the airport was reopened on August 30, 2020, only the runway had been completed, although work was still going on the shoulders of the runway and the technical personnel were waiting for work to be completed on the shoulders so that the runway light would be fully installed. That the airport projects were not completed as claimed by some reports was what triggered the controversy, as some persons in the South-east expressed disappointment with the reopening of the airport. Pictures being circulated on the social media indicated that work had been finished on the projects and that both the old terminal, which is the domestic terminal and the international terminal had been completed. But THISDAY learnt that the pictures being circulated were that of the Port Harcourt Airport new terminal and that of Abuja airport new terminal. But it was gathered from the Federal Airports Authority of Nigeria (FAAN) that the airport was not reopened because the projects had been completed, but because there was the urgent need for it to be reopened, as demanded

We are conďŹ dent because this conďŹ dence is the necessary ingredient for us to work. Far and wide, without conďŹ dence there will be no aviation and that is

by stakeholders, political leaders and others from the South- east zone. With the runway in excellent condition, flights can safely land and take off from the airport and the airport could service daylight operations from 6:00 am to 7:00 am, as it was doing before it was closed for the rehabilitation of the runway. Investigations showed that it was the pictures that drew up the expectations of the people who became frustrated when they saw scaffolds under the entrance gate and terminal of the airport, which indicated that work was still going on and that the projects were not completed as claimed by the photographs. Speaking at the occasion, President General of Ohanaeze Ndigbo, Chief Nnia Nwodo said the reopening of the airport had brought relief to the people of the South-east and expressed satisfaction that despite the fact that work was still on-going on some projects, the airport would still serve the people and thanked President Muhammadu Buhari for approving the funds for the rehabilitation of the runway. He also thanked Governor Ugwuanyi for his efforts in making sure that the project became a reality. Managing Director of FAAN, Captain Rabiu Yadudu explained that the runway surface suffered continuous deterioration as a result of age and this marred the confidence of those flying and so government had to take the painful but important decision to shut the airport on August 24th last year, and rehabilitate the runway. â&#x20AC;&#x153;Akanu Ibiam International airport Enugu was closed to aircraft traffic due purely to safety concerns. It was a difficult but necessary decision to forestall unforeseen situations that were potentially dangerous and disastrous to aircraft operations. It was a big decision because this airport is a major part of our operations and revenue generation but in aviation we have to take the interest of safety and security and the economic interest of our people, our stakeholders, which is all Nigerians. â&#x20AC;?Today we are here to confidently reopen our runway, I say confidently because ours is a confident business. We are confident because this confidence is the necessary ingredient for us to work. Far and wide, without confidence there will be no aviation and that is. â&#x20AC;&#x153;Aviation is a confidence business and passengers have to have confidence in the systems reliability to fly. If there is no confidence, no stakeholder, no passengers, no flight, no operations, no revenues that is why everything in aviation has to be high on integrity and reliability,â&#x20AC;? he said. The Chairman House of Representatives Committee on Aviation, Hon. Nnolim Nnaji, said the closure of the airport in the last one year affected the economy of the southeast and expressed the belief that with the recommencement of flight operations, commercial activities would pick up again.

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Appraising FGâ&#x20AC;&#x2122;s Reciprocity Policy on Air Travel Recently the federal government announced that it will adopt the principle of reciprocity in dealing with countries that barred Nigerians from their borders. Chinedu Eze writes on the effect of the policy on air travel.

Sirika

ast week the federal government vowed to apply the principle of reciprocity against the nationals of some countries that are imposing stringent traveling conditions on Nigerian citizens on the basis of COVID-19 cases in the country. Over the years Nigerian airline operators and other concerned stakeholders have criticised how foreign airlines literally run roughshod over Nigeriaâ&#x20AC;&#x2122;s airspace, getting approvals to operate into the country, but standing against Nigerian carriers that want to reciprocate same, using policies and outrageous airport charges. For example, THISDAY gathered that at different epochs Medview Air Line was barred from going to London with own registered aircraft and was forced to lease aircraft registered in the European Union. But Virgin Atlantic Airways and British Airways continued operation into Nigeria. At another time, the United Kingdom airport authorities stopped Arik Air operation to London from Abuja, using slot allocation, which was not contained in the Bilateral Air Service Agreement (BASA) between Nigeria and the United Kingdom and when Arik could not continue to pay the high charges, it stopped the Abuja-London flights. The two UK carriers: Virgin and BA had a field day, operating the lucrative Nigerian routes without competition from indigenous carriers. They hiked the fares at whim that it costs more to fly from Nigeria to London, which is six hours than from Johannesburg to London, which is about 11 hours. THISDAY also gathered that few years ago, the management of the airport in Abidjan, Codeâ&#x20AC;&#x2122;Ivoire introduced very high charges to stop Air Peace from operating to that country, while Air Codeâ&#x20AC;&#x2122;Ivoire had received approval and had been operating to Nigerian without hindrances and at very low charges. Before then the request by Air Peace to operate to that country and some other countries in the West Coast was practically turned down until the airline threatened legal action and the Nigerian Civil Aviation Authority (NCAA) waded in. Industry observers said these countries took advantage of the diplomatic laxity and seeming indifference of concerned Nigerian authorities to â&#x20AC;&#x153;fight backâ&#x20AC;? against these policies tailored to frustrate Nigerian airlines. Therefore, analysts believe the reciprocity policy which the federal government has adopted in the aviation industry to redress the abuse as stated above is welcomed. But many Nigerians hope that government would be able to carry the new policy through. Going the Whole Hog There is skepticism about whether the federal government would carry out its new policy to the letter or that it would yield to pressures halfway and abscond when countries whose airlines make humongous profits from the Nigerian routes would begin to shuttle between their country

Onyeama

and Abuja. However, industry expert who spoke with THISDAY said to make the new policy work, government would be selective in tracking down some countries that have not been very friendly with Nigerian travellers, noting with this new policy, government could remove all those clauses in BASA agreements that injure the interest of Nigerian carriers. â&#x20AC;&#x153;This is the time to discountenance every BASA and renegotiate all BASAs. This is the best time to review all agreements. For example, Nigeria should review British Airways operation to Abuja and also that of Lufthansa to Abuja. This is the time to give it back to the people,â&#x20AC;? the source said. BASA Aviation Economist and Lead Consultant at the ETIMFRI Group, Amos Akpan, said for the new policy of reciprocity to be realised, government must have to review BASA with many countries. â&#x20AC;&#x153;BASA should be reviewed. How will Nigeria apply reciprocity on Emirates that flew seven days a week to Lagos, five days a week to Abuja, joined with Qatar Airways flight schedule? How do we apply reciprocity to Air France, KLM, Kenya Airways who share codes and flights? These airlines land in Port Harcourt, Abuja, Kano, and Lagos a minimum of three times a week; they land daily in Lagos and Abuja. Nigeria has only Air Peace at the moment. This makes the money we receive as BASA funds attractive even when it is skewed in favour of the foreign airlines. Now Accra and Cotonou airports take a large portion of Nigerian traffic by the application of 3rd, 4th, & 5th freedom traffic rights. â&#x20AC;&#x153;Accra and Cotonou plan their growth with traffic from Nigerians as input for investment decisions. We need to be deliberate in growing our airlines to become global players. â&#x20AC;&#x153;If there is a policy that if properly implemented it will discourage Nigerians from travelling through Accra and Cotonou, all international airlines will reduce their frequencies into these two airports. This may sound draconian and unfriendly; but it will be difficult to breakthrough doing what with have been doing repeatedly in the past years. â&#x20AC;&#x153;We need to deliberately breakout of what weâ&#x20AC;&#x2122;ve been doing towards encouraging patronage of Nigerian airlines. We should not think when the planned national airline comes on line people will automatically fly her. Habits are difficult to break. International conspiracy is difficult to decipher and outdo. Our domestic operators were not and are not ready for multiple designations of international carriers,â&#x20AC;? Akpan said. Recently industry expert and CEO of African Aviation Services, Nick Fadugba, said multiple entry points and frequencies of foreign airlines are commercially disadvantageous to Nigerian airlines and do not achieve fair reciprocity. He said to make the aviation industry more viable, the federal government should introduce

a more enabling environment, review BASA with other countries and also take advantage of this period of COVID-19 pandemic to develop new aviation blue print to guide operations in the sector. Fadugba, who is also the Chairman of African Business Aviation Association (AfBAA), said the current pandemic provides an opportunity to develop a new aviation blueprint for Nigeria, which could enable the country to fulfill its full aviation potential if properly implemented and recommended. Multi-designation Over the years aviation industry stakeholders have campaigned against multiple designation because it gives foreign airlines the opportunity to operate into many airports in the country and thereby deny local carriers the opportunity to airlift passengers from different airports to one or two airports designated only for international operations. Such scenario would encourage foreign carriers to partner with local airlines. For example, if Turkish Airlines were designated to land only at the Abuja airport, it would partner with local airlines to bring passengers to it from the other airports of the country. Over time, the partnership may mature into the local airline selling ticket for the foreign carrier and exchanging technical personnel and training. But currently, Turkish operates to Abuja, Lagos, Port Harcourt and Kano. So do some other foreign airlines, thus denying local operators the opportunity of partnership. But the Minister of Aviation, Senator Hadi Sirika had said at the beginning of his tenure as Minister that he believes that every region in the country should have an international airport so that travellers would spend less amount of money travelling to Lagos or Abuja to connect flight to their international destinations. So, he has always encouraged that every zone should have international airport and foreign carriers could operate to that airport to save travellers the inconvenience and cost of moving from their region to the nationâ&#x20AC;&#x2122;s capital or the commercial city of Lagos. â&#x20AC;&#x153;We chose to make Enugu, Port Harcourt and Kano airports international airports. The stakeholders wanted us to only make Abuja and Lagos airport international airports and use smaller aircraft to take the passengers and ferry them to their locations. I am a policy maker and I look at the haves and the have-nots. â&#x20AC;&#x153;It will cost an average business man about one thousand dollars to book hotel and board flights to come down to these airports from Lagos and Abuja. We will serve you where you are. I made sure Enugu meets all international standard that it requires. In the next few days most flights will commence. â&#x20AC;&#x153;Ethiopian airline and many other airlines that receive approval to come here will come here,â&#x20AC;? Sirika said last Sunday at the reopening of Enugu airport.

Exploitation Many industry stakeholders believe that Nigerian travellers have been exploited over the years because foreign airlines are not facing strong competition from local carriers so they get together and fix airfares that are relatively higher than any other fare in the West and Central African sub regions. Yet, Nigeria is a lucrative route, more lucrative than any other destination in the sub regions. The Chief Executive Officer of Mainstream Cargo Limited, Seyi Adewale, said there was need for Nigeria to also flex its muscles like other countries so that it would be respected and also be taken seriously by other nations. He said that Nigerians contribute in boosting the economy of countries like the UK but the government of the UK may not officially recongise this contribution. â&#x20AC;&#x153;I strongly believe it is time for Nigeria to also flex its own strength in the community of nations. Example, there was a time Nigeria was ranked third in the POS sales at Heathrow Duty Free Airport Stores in the UK and only after China and Russia. This means we boost UKâ&#x20AC;&#x2122;s economy and Duty Free stores will â&#x20AC;&#x2DC;feelâ&#x20AC;&#x2122; the impact of Nigerians not allowed into their airports/ country. â&#x20AC;&#x153;This also happens in many other countries. In addition, the recent Fareed Zacharia CNN study report on the significant impact and contributions of Nigerians to US economy, which only amplifies this fact a little further, revealing that Nigerians are paying more taxes than most other immigrants in the US. â&#x20AC;&#x153;So, whether the world likes it or not, Nigeria, the most populous and largest GDP (approx. $414.912Billion) in Africa are needed in world system craving for stability, fluidity in trade and commerce because they are hardworking, energetic and highly creative people,â&#x20AC;? he said. He said he fully support the federal governmentâ&#x20AC;&#x2122;s stance on the reciprocity choice, adding that that Nigeria has strength and potential and therefore cannot be ignored. â&#x20AC;&#x153;I recommend the federal government setting up a very high powered team led by the Minister of Foreign Affairs to chair a newly set up committee. The Minister could be supported by Head of Nigeria Diaspora, representatives from the Ministry of Trade and Commerce (to supply inputs from trade and investments between Nigeria and target countries), representative from Ministry of Aviation (to submit potential impact on local airlines per decision/ country specific), representative from the intelligentsia to look at issues such as Nigeriaâ&#x20AC;&#x2122;s ultimate interest, liaise and negotiate with some countries, advise on alternative cause of action and communicate same to Nigerians,â&#x20AC;? Adewale said. So far, not only that many aviation industry stakeholders are celebrating governmentâ&#x20AC;&#x2122;s decision on the principle of reciprocity, many of them believe that it was the right thing to do.

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As Shipping Firms Stifle Businesses with Charges Eromosele Abiodun writes on the imposition of peak season surcharge on Nigerian-bound cargoes by shipping companies and claims by customs agents that other charges contravene Sections 20, 31 and 97 of the Customs and Excise Management Act

nternational shipping is a complex subject that contains many variables. Proper handling paves the way for a reliable and cost-effective management of ocean freight. That is regardless of whether an importer ships one container now and then, several per month or more than 10 per day. Many businesses depend on viable international shipping to ensure the persistence of partnerships and clients and sustain profitability. Avoiding delays is critical to guarantee an uninterrupted operation. However, international shipments could face shipping delay charges resulting from various clearance issues. Sufficient preparation and understanding the different resulting charges in advance is key. While it is a known fact that international shipping is intricate, the confusion in the Nigerian maritime industry over shipping companiesâ&#x20AC;&#x2122; charges has, over the years, raised dust with stakeholders at daggers drown as to who is right or wrong. The problem assumed a new dimension in 2018 when customs brokers plying their trade at Lagos ports declared war on shipping companies over a N4 billion demurrage accrued from san industrial action embarked upon by truck drivers. Truck drivers had for six days in June 2018, shunned lifting of cargoes at the ports in protest over alleged extortion by security agencies. Resulting in over N4 billion accrued as demurrages and storage charges that importers had to clear. THISDAY investigations revealed that N668 million demurrage was incurred daily for the duration of the strike action, which translated to N4 billion. The demurrage became a running battle between clearing agents, importers on one hand and the service providers on the other. While the clearing agents were calling for waivers over the strike period, the shipping lines and terminal operators remained indifferent. Since that crisis, the port economic regulator, the Nigerian Shippers Council (NSC), has been inundated with several petitions by clearing agents on the stifling charges by shipping lines. As if that was not enough, the shipping companies last month unanimously imposed Peak Season Surcharge (PSS) on Nigerian-bound cargoes. FG, OPS Demand Reversal Irked by the development, the federal government and the organised private sector (OPS) unanimously agreed to battle multinational shipping firms over the indiscriminate charges. THISDAY learnt that the six companies involved are: Cosco, Maersk, MSC, CMA CGM, Hapag Lloyd and Evergreen shipping. Led by the NSC, the OPS under the aegis of Manufacturers Association of Nigeria (MAN), Lagos Chamber of Commerce and Industry (LCCI), Nigerian Association of Chamber of Commerce Industry Mines and Agriculture (NACCIMA), and major stakeholders in the shipping community met in Lagos to form a common front to resist the arbitrary charges. The meeting followed a letter written to the European Community Shippers Association (ECSA) by the NSC on behalf of the Nigerian government describing the surcharges as economic sabotage. The 2020 PPS of between $1000 and $1,500 per twenty-foot equivalent unit (TEU) by shipping firms, is over 400 per cent increase from the previous $200 freight charge per TEU during peak period. Speaking at the meeting, the Executive Secretary, NSC, Hassan Bello, said the charges scary, adding that if a Nigeria-bound container is charged as much as $1000, the national economy is in trouble. He expressed worry that the surcharge was introduced at a time when the nation trying to get out of the economic impact of the COVID-19 pandemic. The charges, Bello pointed out, would lead to spiral inflation rate on the economy; â&#x20AC;&#x153;cargoes will be abandoned at the ports; it means job losses and many shippers will be put of business,â&#x20AC;?

charges. Everybody is giving concession that lures people to come and do business in this pandemic period, so why are the shipping lines trying to kill business at this time? â&#x20AC;&#x153;We are not against the shipping lines because we are trade partners with them. However, with the PSS introduction, we feel they are strangulating us. Donâ&#x20AC;&#x2122;t forget the border closure is still there. Why introduce PSS now in this Covid-19 rattled economy?â&#x20AC;? Maersk Suspends PSS Following protest by the NSC and the OPS over the indiscriminate charges slammed on Nigerian-bound cargoes, one of the multinational shipping firm Maersk Line has suspended the surcharge. In a letter addressed to the Executive Secretary/CEO of Nigerian Shippersâ&#x20AC;&#x2122; Council (NSC),signed by the Managing Director Maersk Nigeria, Lara Lana, the company instructed its commercial department to stop applying the peak season surcharge from September 1, 2020. Maersk in the letter stated that: â&#x20AC;&#x153;Our principals in our Head Office have informed us of your letter with subject reference increase in peak season surcharge. We would like to thank you for the supporting document you shared shedding light on the meeting between the ECSA and UASC.â&#x20AC;? However, other major shipping firms such as Cosco, MSC, CMA CGM, Hapag Lloyd and Evergreen shipping are yet to announce their decision on the matter.

Bello The charges, he stressed, are â&#x20AC;&#x153;astronomic, unjustified, not notified and discriminatory. This is against fair trade facilitation rules.â&#x20AC;? Bello said the NSC has written to the erring firms and waiting for responses according. He said: â&#x20AC;&#x153;We have also written to ministry of transportation to escalate it to ministry of trade and ministry of foreign affairs, and the federal government will protest the charges. We have been having surcharged in the range of $200 to $400, but 400 per cent increase and there was no time limit. Its already going to nine months it is not what any economy can cope with. This can cripple the economy.â&#x20AC;? On her part, the Managing Director, Nigerian Ports Authority (NPA), Hadiza Bala-Usman expressed disappointment about the charges, saying that it might result to more cargoes being abandoned at the ports. Represented by the General Manager, Tariff and Billings, NPA, Abubakar Garba Umar, she said: â&#x20AC;&#x153;If the importers are charged so high and they abandoned them in the port, NPA will lose revenue and it would reduce efficiency and turnaround of ships to Nigerian port.â&#x20AC;? Speaking, Director-General of LCCI, Muda Yusuf, said the industries would resist the charges because this is not the best of time for businesses generally. President, MAN, Mansur Ahmed, said the association will not accept the surcharge because it is coming at a time when manufacturers are working with less staff, less raw material and lower profit. Represented by Olufemi Immanuel, he said: â&#x20AC;&#x153;The price of goods will skyrocket and cost of transports will be unbearable.â&#x20AC;? Representative of NACCIMA, Margaret Orakwusi, said the surcharge would affect commerce critically. â&#x20AC;&#x153;Our members borrowed huge money to import items and they are slammed this huge amount, then it would affect the banks too, â&#x20AC;&#x153;she said. Also, large-scale importers such as Dangote Group and Promasidor bemoaned the arbitrary charges by shipping companies, expressing readiness to protest the charges with all mercenaries. Equally speaking, Vice President, Association of Nigerian Licensed Customs Agents (ANLCA), Kayode Farinto, urged collaboration with ECOWAS on the arbitrary charges. â&#x20AC;&#x153;It will affect our economy seriously because the Nigeria is an imports dependent

economy,â&#x20AC;?he said. President, National Association of Government Approved Freight Forwarders (NAGAFF), Increase Uche, said the PSS is unacceptable, adding that COVID-19 does not give room for acceptability of such charges. Shippers Protest In the same vein, the Shippers Association of Lagos State (SALS) lamented that with arbitrary introduction of excessive shipping charges in the form of PSS, will strangulate Nigerian shippers and importers. President of SALS, Jonathan Nicol, stated that: â&#x20AC;&#x153;How do you expect somebody to bring in a set of cargoes with $20,000 and is being asked to come and clear them from the ports with $50,000? Is that a viable transaction? Can you now see why cargo owners leave their containers in the ports? This is the reason why there are so many overtime containers in the ports.I donâ&#x20AC;&#x2122;t blame the people that abandon their containers in our ports because the cost of clearing those containers is twice the value of those containers.â&#x20AC;? Nicole explained that the foreign shipping lines ought to have given a notice to its customers before slamming the freight increase on Nigerian bound cargoes. â&#x20AC;&#x153;The foreign shipping lines were supposed to give a notice to shippers because we are trade partners, but they didnâ&#x20AC;&#x2122;t. They just slammed the PSS charge on our consignment coming to Nigeria. â&#x20AC;&#x153;We donâ&#x20AC;&#x2122;t know how the foreign shipping lines arrived at $1,025 PSS surcharges for 20feet and 40feet containers coming to Nigeria, but why is it only on cargoes destined for Nigerian ports? Obviously, Nigeria is the target. â&#x20AC;&#x153;The shipping lines claim they spend 50 days waiting to berth at Nigerian ports due to delays, and that they pay $2000 daily while waiting, but why are they bringing in PSS now in this Covid-19 ravaged period? â&#x20AC;&#x153;It is time for the Ministry of finance to make a statement on this because this action is killing our ports slowly. The Union of African Shippers Council (UASC) has already issued a statement on this, and it is being escalated,â&#x20AC;? he said. He added: â&#x20AC;&#x153;The foreign shipping lines ought to be happy that they have cargoes to move because the freight charges should be enough for them. We are in a pandemic period, this is not the right time to introduce new and excessive

Customs Excise Act Apart from demurrages and other charges, customs agents have had a running battle with shipping companies and terminal operators over storage charges. For instance, in a petition addressed to Vice President Yemi Osinbajo, recently, customs agents alleged that the shipping companies and terminal operatorsâ&#x20AC;&#x2122; charges on storage contravene Sections 20, 31 and 97 of the Customs and Excise Management Act that limit the days for rent charges and conferred authority to Nigeria Custom to charge rent after specific days by the board. The agents in the petition signed by National President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Lucky Amiwero, stated that duplication of charges such as terminal delivery charges/ terminal handling charges, deposit repayment delays and process procedure that lack regulation of the economic interest in the port. They stressed that there is the need for the federal government to intervene to address the cost of doing business by a total review of the procedure, process and cost in the ease of doing business. The Presidential Enabling Business Environment Council (PBBEC), they added, should urgently address the following short falls, which is militating against our import and export trade that resulted to massive diversion of goods to neighbouring ports. Also, the agents called on the federal government to use part of the seven per cent port development levy for the development of port access roads, trailer parks. â&#x20AC;&#x153;The condition of the Tincan Island Port Axis of Apapa Oshodi express road leading to the ports is a death trap, big potholes and gridlocks resulting in loss of lives and continued destruction of loaded goods that always fall on cars, trailers and sometime persons,â&#x20AC;? he said. â&#x20AC;&#x153;It is a complete setback to trading across borders (TAB) for ease of doing business on trucks that spend weeks to access and exit the ports which result to delay and rejection on most of the fragile export products in international market and high cost in import clearance. â&#x20AC;&#x153;The Nigeria Ports Authority (NPA) is no more in port operation, the percentage collected from the seven per cent Port Development Levy should be used for the development of the trailer parks and port access roads,â&#x20AC;? he said.

T H I S D AY ˾ SEPTEMBER 4, 2020

BUSINESSWORLD

ANALYSIS

DBN Advocates Sustainable Banking for Nigerian MFBs Maduabuchi Ubani

he social, environmental, and economic consequences of rapid population growth, consumption of natural resources, and resultant climate depletion have led to increased global attention on social impact and contribution of business to their environment and society. It is projected that by the year 2050, the world population will be about 9.6 billion and Nigeria will account for 400 million of the figures. Going by the current rate of ecological degradation caused by consumerism and industrialization, by 2050, planet earth would have been pushed to its extreme limit. To cushion the looming danger, economic policy formulators across the globe are soliciting concerted effort on sustainability with Sustainable Development Goals (SDG). While firms are being tasked with improving sustainability efforts, it is also important that financial institutions, especially Microfinance Banks, improve their sustainability initiatives and become more responsive to their social and ecological environment. Microfinance has strongly developed over the past decades on the premise of reaching a double bottom line of financial viability and social impact. According to a study conducted by the European Journal of Sustainable Development, the primary objective of Microfinance has largely been economic, but in recent years, the focus is shifting to a more social or developmental objective. Today, ecological factors such as legitimacy, competitiveness, and social responsibility, are increasingly key considerations for microfinance banks when lending. Simply put, financial institutions in their desire to compete favourably and improve appropriateness of their actions within the established set of regulations should also be conscious of the impact of their actions on

Okpanachi their environment. This is why the Development Bank of Nigeria Plc (DBN), a premier development finance institution with a huge influence in the MFB ecosystem, has set out to act as a catalyst in helping to raise awareness around sustainability initiatives as well as provide technical assistance for its PFIs. To this end, the bank recently organised a webinar session themed, “Creating a Sustainability Community of Practice for Nigerian Microfinance Banks” for MFBs that are working with it as Participating Financial Institution (PFIs). According to DBN’s MD/CEO, Tony Okpanachi represented by Chief Operating Officer, Bonaventure Okhaimo, “The initiative is focused on further deepening DBN’s efforts at increasing awareness on sustainability issues, and also positively influence its Participating Financial Institutions (PFIs) on Sustainable Development Goals (SDG).” He explained that the goal is to create an MFB community for information sharing and learning on sustainability initiatives and the implementation of strategies for financial institutions in Nigeria. According to him, “Currently, the

overall awareness of sustainability and its transitions for the microfinance ecosystem has not been clearly articulated in Nigeria. This is because most MFBs regard lending as the most essential service to be rendered to end-borrowers. “This session is designed to enable DBN affiliated MFBs to have a more robust proposition about sustainability which will open them up to the myriad of advantages, including external funding, generation of deeper trust with stakeholders, and legitimization of their operations along the lines of Sustainability.” While DBN is driving this initiative, it has also been recognised that the support of industry regulators will go a long way in facilitating the desired response from the financial institutions. In this regards, the Special Adviser to the CBN Governor on Sustainability, Dr Aisha Mahmoud, while delivering her keynote address during the DBN session, stated that: “Deliberations on emerging issues of sustainability are important for the financial ecosystem.” She stressed that MFBs by the virtue of their mandate is already practising the social pillar of sustainability by lending to the underserved sectors of the economy, but there is a need to focus more on the environmental impact of their lending by looking into the activities and operations of their borrowers through a sustainability lens.” She added that today’s successful businesses are those that integrate sustainability into their operations. According to her “We cannot ignore the environmental pillar because it is as important as the social pillar. Due to our way of unsustainable consumption and production, we are constantly depleting natural capital. We need to shift our growth pathway from the current trajectory to the one that improves the quality of human life while living within the carrying capacity of the planet earth.

“Microfinance has emerged as a tool that offers financial services to the poor and unbanked. Therefore, Microfinance institutions need to balance their social performance against environmental performance and sustainability”. She emphasised that, “to really contribute to sustainable development, MFIs should deliver financial services along the triple bottom line by measuring environmental impact. They should focus on the economic, social, and environmental impact of their client’s activities financed by microcredits. MFIs should look beyond the one-dimensional objective of profit by making people and the planet part of the bottom line.” She further added that, “Based on discussions with a few MFBs, organisations oftentimes think sustainability is an additional cost to the business, but we need a shift from that perception because sustainability is a win-win situation that connects people, planet, and the economy. “Studies have demonstrated how businesses that integrate sustainability well, outperform those that do not, as it lowers the cost of capital, results in better operational performance, and positively influences the stock price”. To help MFBs in this direction, DBN’s Sustainability Specialist, Lolade Awogbade, said, “the discussion in the community will provide MFBs with increased knowledge on internal and external sustainability strategies in implementing their initiatives. “The internal strategies will be guided by Sustainable Development Goals that embraces strategies inclusive of waste management, energy, gender and diversity policies, and the likes. The external will be business strategies focused on social and developmental objectives such as women empowerment, poverty eradication, and financial inclusion.” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

‘Niger Bridge Light-up Historic Landmark’ Nigerian Breweries Plc’s Life beer brand recently invested huge amount of money in lighting up the bridge that connects the Eastern part of Nigeria with the South-West. In this interview, the Head, Media, Digital, Brand PR & Sponsorship, Wasiu Ola Abiola and Port-Folio Manager, Mainstream Lager Brands, Omotunde Adenusi, spoke about the initiative. Maduabuchi Ubani brings the excerpts:

But none will be as iconic as our historic Niger Bridge - Our Bridge of Progress. For many, this bridge symbolises the start of something new and its long tradition of progress will withstand the times, so the project represents preserving this historical monument that has created an easier way for its citizens to move around, but more importantly for the Igbos, it is a symbol of trade, access to greener pastures and bears so many tales for many different people.

ow will you describe the project initiative by NB Plc’s Life Beer to light the Niger Bridge? The Niger Bridge light-up is a historic landmark event not only for Nigerian Breweries Plc (NB), but also importantly for the people of the south East because of our long standing history. This project embodies the progressive spirit of the (Igbo) people; especially in the present trying times it offers a beacon of hope and resilience and encouraging the people to live and Enjoy Life Responsibly because ‘as long as there is life, there is light at the end of the tunnel (Nduka). What informed this project initiative? Life Continental lager beer has always had a long standing heritage of progress. Over the years the brand has launched various initiatives that embodies and inspires progress through its communication and notable initiatives that discover and support entrepreneurs and creative talents. On May 1st, 2020, Life Continental re-launched with an exciting new packaging design that reflects its progressive traits and prominently displays its long standing iconic brand identifier; the Niger Bridge, a bridge we term the ‘Bridge of Progress’ because it represents the progressive journey of optimism and assurance of hope for a better life. As a climax to the re-launch activities, Life Continental delivers a first of its kind beautification of an iconic landmark in Nigeria, breathing new life and aura to the iconic bridge – by illuminating it in a symbolic gesture that enlivens this famous gateway entry into Eastern Nigeria and the lifeline of trade and commerce for the region How long did it take to achieve this? The project spanned a period of almost two years, and we are quite pleased with the dedication of our outdoor partner agency, New Crystal in helping to actualize this transformation of the iconic Niger Bridge with beautiful neon

Abiola

Adenusi

lights. The bridge has been displaying our brand (LIFE lager beer) message since 2012, we decided to do something more befitting with the bridge, with the magnificent lighting, that was commissioned on August 1st 2020.

we have gone beyond elevating the brands key identifier to an iconic landmark but have breathe new life to this historic monument that serves as a testament to the progressive spirit of our people. What better way to identify and say thank you to the people that has made the brand No 1 brand in Nigeria.

Was this borne out of desire to take brand war to the door step of competitors or a deliberate CSR initiative aimed at identifying with the people? Life Continental Lager Beer was first brewed in Onitsha, Anambra State in 1981, and the brand has since then grown from just a regional beer brand to becoming the biggest beer brand in the country. In view of this, the brand has always shared a very strong connection with the people of South-eastern Nigeria, owing to its message of progress, a key narrative that the brand pioneers, and now with this project we are reigniting the progressive spirit of the Easterners, whilst strengthening the connection with our roots. Furthermore with this feat,

What is the signiﬁcance of this effort? With the Lighting of the Niger Bridge, we want to pass across a strong message of resilience, progress and togetherness. It is a tribute to the long-standing show of love from one kinsman to another and we hope this message resonates with everyone and inspires them to keep living right in their pursuits of progress. What do you intend to achieve with this? While more bridges will be built, more routes to connect the cities in the east, and even more means of transportation may arise.

As a project which directly falls within your purview, how do you feel with the completion of this project? I am highly elated and honoured to be part of the team that conceived this project and also led it to conclusion. With this achievement we have brought something different to our landscape and the brilliance of the lights serves as a message of our strength and adaptability especially in these times, because life is progressive. As you know, media is anywhere consumers can be reached with our brand’s communication messages. I can modestly refer to this as the greatest media platform I have been involved in its creation in my over 20 years of advertising media management, both on the agency and client sides. What impact and brand equity would this project have on Life Beer? With this ground breaking transformation, we hope to offer a distinctive point of differentiation and build a stronger emotional bond with our core consumers. The lights on the Niger bridge carries the message - “Enjoy Life Responsibly” which is a call back to the message of self-preservation, a message that could not have been more relevant in times when not just our livelihood but our lives are being threatened. It is imperative that we treat life as the precious gift (NDU KA) while pushing forward in our resilient pursuits.

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Athe: FG Can Widen Tax Net by Improving Data Collection Victor Athe, who is the Partner, Tax and Strategy and CMO of Stransact, in this interview speaks about his firmâ&#x20AC;&#x2122;s current repositioning. Adedayo Adejobi brings the excerpts:

ow would you assess the current level of awareness regarding income and corporate taxes? The Nigerian government is doing the much it can to improve the general tax awareness in the minds of the public. However, you will agree with me that one of the major impacts of the Covid-19 pandemic in the world has been a significant up-scale in the level of digital/ electronic transactions. Nigeria has already put efforts in motion to implement the OECD BEPS Action Plan 1 â&#x20AC;&#x201C; Addressing the Tax Challenges arising from digitalisation by incorporating amendments into our Companies Income Tax legislation (via the recently enacted Finance Act, 2019), which is targeted at grabbing the Countryâ&#x20AC;&#x2122;s fair share of taxes from digital and other off-site transactions that would have normally escaped taxation in Nigeria before the amendments were introduced. However, in the area of widening the tax net, government would achieve a more holistic inclusion by creating systems to improve data collection of business transactions across the country. The current efforts of the FIRS at deploying technology for collection of taxes by connecting all business premises in the country to a central server, is a step in the right direction.

outside the big 4 for audit and also consider other network entities like Stransact that is able to offer quality attest services. The big four have diversiďŹ ed from accounting and auditing into a multitude of services, so there is always a fear of dilution of mission in favour of money. How are you balancing the two? Recently, the Financial Reporting Council of Nigeria (FRC) issued the big four firms an ultimatum to separate their entities engaged in audit from those providing other consultancy services in a bid to ensure the audit quality of these firms is not compromised as a result of their continuous interactions with the same clients they audit, in other consultancy services engagements. It is a good thing that the FRC has finally paid attention to this very sensitive issue that has been starring us in the face all along. We intentionally separated our firm that provides audit and attest services from the one that provides all other consultancy services as a result of this important consideration. Athe

If the biggest challenge for the audit ďŹ rms in Nigeria is that of audit rotation. Which side of the fence are you on â&#x20AC;&#x201D; ďŹ rm rotation or partner rotation? According to documented history, the first ever audit rotation happened during the McKesson Robbins hearings in 1938. The accounting firm (then Price Waterhouse) had failed to detect $19 million in largely scandalous misstatements of inventory and receivables by the company- McKesson & Robbins, Inc. (now McKesson Corporation). The company had evidently falsified records, while Price Waterhouse did not seek to question or verify the validity of the information in their financial statements. The discovery of this fraud led to congress hearings which later crystallised in the birthing of corporate governance and auditing reforms, all in an attempt to reform the accounting profession by the lawmakers. The eventual outcome was the development of the first formal standards for auditing procedures. There have been talks about a global The main purpose that audit firm rotation recovery which now seem dampened by seeks to achieve is ensuring that auditorâ&#x20AC;&#x2122;s the Covid-19 pandemic. Whatâ&#x20AC;&#x2122;s your take independence is not compromised. Auditorâ&#x20AC;&#x2122;s on this? independence is directly linked with the From a broad outlook, it is clear that the auditorâ&#x20AC;&#x2122;s familiarity with the client, while economic uncertainty introduced by the there is also a direct relationship between coronavirus outbreak has undoubtedly led auditorâ&#x20AC;&#x2122;s independence and audit quality to a bigger shock than what was experienced (bear in mind that â&#x20AC;&#x153;audit qualityâ&#x20AC;? is the during the September 11 terror attacks or the soul of the auditing profession). In Nigeria, 2008 financial crisis. Clearly, the current crisis mandatory audit firm rotation was introduced represents the largest economic shock the in 2006 as part of the codes of corporate world has experienced in decades. The reason governance intended to further strengthen is not far-fetched. An unprecedented level auditorsâ&#x20AC;&#x2122; independence. On the one hand, of unemployment has been created globally some researches have concluded that there as a result of the pandemic. Hundreds of might actually be no significant relationship thousands of SMEs have also been adversely between audit firm rotation and auditorsâ&#x20AC;&#x2122; impacted globally. Despite increased efforts independence after all. Examining the issue of governments to cushion the adverse critically, audit firm rotation may possibly economic impacts of the pandemic with fiscal lead to a higher possibility of a bad quality and monetary policy support, a 5.2 per cent audit at inception. It is a well-established fact contraction in global GDP has been forecasted that first-year audits have a higher tendency for the 2020 year. The growth indices of a of failing than audits done in subsequent lot of emerging and developing economies years by the same auditor. This is evidently that were already weakened before the crisis, due to the increase in the auditorsâ&#x20AC;&#x2122; CAKE are likely to plummet further. We have also in relation to the entity being audited as witnessed a historic tumble in oil demand and the years go by. Meanwhile, on the other oil prices globally. Notwithstanding, dipping hand, audit firm rotation may also potentially oil prices could be a blessing in disguise, since increase the quality of services provided by they present an opportunity to economies like the current auditor because the audit firm Nigeria, who depend on oil as their major (being aware that their work would be brought source of revenue, to diversify their economies. under scrutiny subsequently) would attempt If the proper strategies, systems and human to differentiate themselves from other firms drivers (with the required technical depth through the quality of their work. Mandatory and experience) are effectively harnessed, tax auditor rotation can also potentially limit could be a dependable source of revenue for the formation of auditor â&#x20AC;&#x201C;client relationships Nigeria in no time. that often tend to increase the risk of the auditorsâ&#x20AC;&#x2122; independence being compromised, thereby enhancing their capabilities to spot red flags during audits. The The portion of land/ property situated at Sarbanes-Oxley Act of 2002 requires rotation of the lead 1 Yisa Aremu close/1 Daniel Okukotun Rd. audit partner every five years Estate B/stop, Onipanu, Otta, Ogun State so that the engagement can be viewed â&#x20AC;&#x153;with fresh and is NOT FOR SALE. skeptical eyesâ&#x20AC;?. However, Anybody that trespass the said property in my view, audit partner rotation may actually not does so at his/ her own risk. achieve a substantially different outcome where all the other members of the audit Signed: team remain unchanged. We NIMOTA AREMU (08102129162.) encourage companies to look What is your outlook for 2020 and 2021? Emerging economies like Nigeria have, in the past, lost a lot of tax revenue through aggressive tax planning measures instituted by multinational enterprises that actually generate a lot of economic value from their Nigerian operations. However, current efforts by Nigeria to tackle the Base Erosion and Profit Shifting (BEPS) issue by keying into several multilateral frameworks such as the Country-by-Country (CbC) Multilateral Competent Authority Agreement (MCAA) and the Common Reporting Standard (CRS) MCAA, as well as the creation of appropriate local regulations such as the Transfer Pricing, CbC Reporting and CRS Regulations, portend a positive outlook for increased tax generation from cross-border transactions. All these and more related developments will certainly create an increased demand for professional services.

LAND NOT FOR SALE

This is being talked about in the consulting world â&#x20AC;&#x201D; the face-off between the strategy ďŹ rms and the big four. What is your take on the development? The big four accounting firms have achieved an unprecedented level of growth globally since 2002 (when the Sarbanes-Oxley Act was introduced). Their growth strategy has been to expand their capabilities beyond the seemingly finite realms of the accounting and auditing practices through acquisition of firms with other specialist capabilities beyond accounting and auditing. Thus, the big four have been able to successfully transfer their brand equity in accounting/ auditing to other professional fields. Strategy firms, on the other hand, focus more on an organic growth strategy which might constrain their ability to achieve the kind of global

expansion the Big four have achieved. To achieve a higher level of growth, these firms may consider buy out of smaller firms with a congruent culture. Stransact certainly has an interesting history. Weâ&#x20AC;&#x2122;d love to hear about it from your perspective? Since 2009, Stransact Partners has been one of the leading firms in tax advisory and resolution practice in Nigeria. We have been advising on numerous transactions in Nigeria for over a decade, especially in oil and gas transactions. For example, out of the initial three onshore blocks divested by one of the IOCs in Nigeria, Stransact provided strategic advice on all of these divestitures. Our advice saved significant sums for all companies involved and we became thought leaders by virtue of that feat. We obtained tax rulings in favour of our clients which was contrary to the position advocated by all the big brands in the business and we have since remained thought leaders in the Accounting, Tax and Business Advisory business in Nigeria. We continue to do similar feats routinely. In 2010, we incorporated Stransact Audit as a separate entity to provide accounting and attest services. We continue to be one of the strongest names in small business attest and we continue to invest more in growing our attest business. We have also been more innovative than traditional big firms in recognising opportunities. In 2011 when Nigeria adopted International Financial Reporting Standards (IFRS), we began gathering knowledge expertise while we also positioned our young firm to become the IFRS knowledge partner to a major Nigerian corporation. In that capacity, we invited numerous IFRS experts from all over the world to work with our team and clients on several IFRS conversion projects. One of the experts we brought to Nigeria later became an IFRS Knowledge leader locally.

THIS WEEKEND WEEKLY MAGAZINE

NEWS METRO THISLIFE ART WEEKEND ENTERTAINMENT Group Features Editor: Chiemelie Ezeobi chiemelie.ezeobi@thisdaylive.com 08038901925

Jason Usoro: Guinness World Record Longest Dance Marathon Title Holder

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Jason Usoro: Guinness World Record Longest Dance Marathon Title Holder After a previous failed attempt, Jason Usoro, a Nigerian dancer, singer and IT guru, emerged the GuinnessWorld Record Longest Dance Marathon title holder on April 6, 2019 after dancing for 53 hours, 28 minutes and 47 seconds. In this interview with Ayodeji Ake, the dancerwhorevealedhowherelentlesslyworkedtowardsthisfeat,alsosharedmappedstrategiestogrowtheentertainmentindustry

ow do you think the government can invest in entrainment projects? Government can invest in entertainment project through hosting events where artistes can be paid (both established and upcoming), establish entertainment grant projects, long term loans institutions, training and funding institutions. Entertainment Grants would go a very long way especially for entertainers who have proven themselves and just need funds to boost. You recently got certiďŹ ed at the Guinness World Longest Dance Marathon Relay, what were the challenges? Yes I did and Iâ&#x20AC;&#x2122;m glad Iâ&#x20AC;&#x2122;ve been recognised. It wasnâ&#x20AC;&#x2122;t an easy feat but it was worth it. We faced challenges like we needed 24 hours power supply to pull it off and good internet to upload documents but due to the poor functions of these sectors it cost more funds and a lot of time. The record attempt took place at Novare Mall Lekki, Lagos, and this helped a lot because they provided 24hours supply of electricity. As the Guinness World Record Marathon Dancer, how do you feel? Iâ&#x20AC;&#x2122;ve always dreamt of this as a kid. Seeing the likes of Kaffy break a record when I was in senior secondary two made me feel I could do it too and Iâ&#x20AC;&#x2122;m super excited I am officially a Guinness World Record Holder. I feel amazing. I had my first attempt in 2017 but didnâ&#x20AC;&#x2122;t pull it off due to some errors made. Having to attempt it again and break it and be recognised as a world record holder is overwhelming. Dreams come true. How has it been combining singing and dancing, and which is your favourite? I started dancing at the age of five, then singing followed. So Iâ&#x20AC;&#x2122;ve developed and been trained to sing and dance. Watching and learning from James Brown, Michael Jackson, Usher, Omarion ,Giniuwine, BeyoncĂŠ, Ciara, Psquare (now defunct), Neyo and Chris Brown who are masters of the craft. I watched them perform and practice all these years. I have mastered the craft and still learning a lot. I love both but you can wake me up now and ask me to dance and Iâ&#x20AC;&#x2122;ll do justice. How do you strike the balance being a singer, dancer, and at the same time an entrepreneur? Itâ&#x20AC;&#x2122;s not an easy task, sometimes itâ&#x20AC;&#x2122;s very tiring but over the years Iâ&#x20AC;&#x2122;ve learnt balance. Iâ&#x20AC;&#x2122;ve been in business for about 14years- I started at the age of 13years. Iâ&#x20AC;&#x2122;ve learnt balance by knowing I canâ&#x20AC;&#x2122;t do it all on my own so I work with teams. Delegation of roles while I focus on growth worked. I discovered I had a gift in business through entertainment, I always wanted to be a dance artiste but money is

Usoro

needed for that, due to how I was brought up I believe working on yourself would save you a lot of disappointments, so I knew I had to work my way to sponsor my dreams and thatâ&#x20AC;&#x2122;s what Iâ&#x20AC;&#x2122;ve been doing all along. Itâ&#x20AC;&#x2122;s not easy but the end result is fulfilling. Iâ&#x20AC;&#x2122;ve had my ups and downs too but most importantly itâ&#x20AC;&#x2122;s to learn and grow. Most important factor for the balance is time management and planning. To me, I just see myself into business and entertainment. Opting out of academic career for entertainment despite being graduate, were your parents pleased? (Laughs) I didnâ&#x20AC;&#x2122;t involve them in a while. It was when I went mainstream into music they figured out, although they have been supportive. Iâ&#x20AC;&#x2122;m still chasing my academic career too, studied Management Information Systems in Covenant University, now Iâ&#x20AC;&#x2122;m running My IT (Information Technology) Business. What are those things people doesnâ&#x20AC;&#x2122;t know about Usoro? I am a Christian. I love to study, meditate, develop and grow ideas and for leisure, I love swimming, seeing movies and playing video games. I am also an entrepreneur. I run an IT company Blueportal , we develop web, mobile and desktop apps and a also fashion brand on the side- Studz n Buckles. How can you rate the Nigerian entertainment industry, and apart from the government investing in entertainment projects, what others things to be done? I can rate the Nigerian entertainment industry six over 10. So far the industry growth has been interesting although lacks structure and I see that coming to place very soon. Other aspect the government should invest in is technology, itâ&#x20AC;&#x2122;s

very important for the development of our county. We have more unemployed graduates now than illiterates, let government create more opportunities for its youth through development of new industries. Which structure do you think the industry can adopt? First government should give value to enforcing laws as a whole as a country. Entertainment agencies should be created and have laws enforced, funds provided and partnerships with foreign copyright agencies brought into Nigeria and labels who have built structures. Also build Entertainment Schools were the business of entertainment is taught so entertainers are trained and empowered. How do you give back to the society? I give back everyday of my life. Paying fees, charity and providing opportunities and consultations for up-comers in both entertainment and business. Itâ&#x20AC;&#x2122;s a privilege to be able to give back. Now you are in the limelight, how will you manage your increasing fans to avoid scandals? (Laughs) Iâ&#x20AC;&#x2122;ll just keep being myself. Tell us, were you born with silverspoon in your mouth, how was growing up like for you? A big question! Yes I was born with a silver spoon but was trained not to feel entitled to it but find my own silver spoon. Iâ&#x20AC;&#x2122;ve worked a lot, done a lot. Here I am. Tell us the story behind ďŹ nding for yourself a silver spoon? Like I said previously, Iâ&#x20AC;&#x2122;ve been in business since I was 13, Iâ&#x20AC;&#x2122;ve done a lot of businesses-fashion, supplies, food, transport, electronics, entertainment, IT,

furniture, event planning, marketing and so on. Tried my hands on so many things over the years and they all opened my eyes to life. Learnt so much and gained a lot of experience in different fields. I study a lot from the great business men and women. My mum was my first business mentor, she made me love business. She taught me a lot and supported me, then my step dad, a manufacturer and real estate investor broke down production to me and taught me a lot about business, influence and life. I followed up on the likes of Dangote, Adenuga , Otedola , Walton family , Amancio Ortega, Bill Gates , read about great companies that have stood the test of time and so many others who over the years have created impact not just wealth. I learnt a lot also from the school I went to- Covenant University under the wings of Bishop David Oyedepo. So, at a young age I gained a lot of experience. Read a lot of books, studied and researched. I realised knowledge is truly power. I made my first millions immediately after my NYSC, I sold Hoverboards(electric scooter). I knew it was a big trend and tapped into it. I invested in entertainment, I made mistakes and I got broke. I was trying to blow overnight. It was a huge struggle but I started all over again from the scratch with nothing. Attempted my first world record and had to make a hard decision to stop due to errors made, thought it was going to be my breakthrough. Kicked off my fashion business and founded my IT company Blueportal and in less than a year, turned it into a multimillion naira company, then went back again to attempt a new world record and I broke it and I am officially a Guinness World Record Holder. I havenâ&#x20AC;&#x2122;t yet started; Iâ&#x20AC;&#x2122;m still learning and warming up. No harm in having a diamond spoon, right?

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Three Crowns â&#x20AC;&#x2DC;Jaraâ&#x20AC;&#x2122; Campaign Promotes Care for Moms Mary Nnah Three Crowns, Nigeriaâ&#x20AC;&#x2122;s leading low cholesterol and heart-friendly milk, last week, announced the start of â&#x20AC;&#x2DC;Jaraâ&#x20AC;&#x2122; campaign to deliver more value to consumers, especially moms who have done well by their families in the face of COVID-19 challenges. Explaining the purpose of the campaign, the Marketing Manager, Three Crowns, Omolara Banjoko said the brand aims at ensuring mothers in particular and other consumers of Three Crowns milk get more value for their purchase â&#x20AC;&#x201C; that is the â&#x20AC;&#x2DC;jaraâ&#x20AC;&#x2122; which means â&#x20AC;&#x2DC;extra.â&#x20AC;&#x2122; â&#x20AC;&#x153;â&#x20AC;&#x2DC;Jaraâ&#x20AC;&#x2122; is our â&#x20AC;&#x2DC;Thank youâ&#x20AC;&#x2122; from Three Crowns to all purchasing mums for all they do for their families, especially in these uncertain times, which have impacted the spending power of many families to provide adequate nutritionâ&#x20AC;? Banjoko said. â&#x20AC;&#x153;If a consumer buys N3,000 or N5,000 worth of products within the refill pouch, big family pack refill pouch and evaporated milk in cans range, they would instantly receive gifts and extra milk at no extra costâ&#x20AC;?, Banjoko further explained, adding that Three Crowns brand ambassadors would be stationed at retail stores to reward shoppers that buy within the specified assortments. â&#x20AC;&#x153;Through this campaign, we

Three Crowns â&#x20AC;&#x2DC;Jaraâ&#x20AC;&#x2122; Campaign Promotes Care for Moms

will be highlighting and elevating how Three Crowns cares for the heart and in particular, mumsâ&#x20AC;&#x2122; hearts, as Three Crowns milk continues to inspire and engender different things a healthy heart can doâ&#x20AC;?, she disclosed while appraising the entire campaign. In another bold, unique and very exciting move, Three Crowns, will take its care for mothers in Nigeria to a new and thrilling height through a family challenge which the brand has themed: Family Dance Off. The challenge, which will hold all through the month of September, 2020, would be staged digitally, in keeping with the new normal occasioned by COVID-19. Giving details of the challenge, Banjoko explained that dance choreography in traditional attire will be showcased on the brandâ&#x20AC;&#x2122;s social media handles as a guide. Consumers online will then be

invited to recreate their own video showing their mums and family members performing their own dance steps in their preferred attire. â&#x20AC;&#x153;Posted and properly tagged videos will be collated and judged to reveal top five entries which will be selected and posted on the brandâ&#x20AC;&#x2122;s page for followers to pick the top three winning families,â&#x20AC;? she noted. According to her, entries will be judged based on synergy and creativity of the routines, with Jara reward for participation, freebies and offline shopping vouchers are guaranteed for winners. Three Crowns through its recently unveiled, â&#x20AC;&#x153;Jara to the Heart of the Homeâ&#x20AC;? campaign, has been showcasing its unique care for all mothers across trade channels including the open retail market and neighbourhood stores in Lagos, Abuja, Ibadan, Ilorin, Aba, Benin and Enugu till October 2020. To participate in the campaign, shoppers are

required to buy products worth N3,000 or N5,000 within a selection of Three Crowns product range including the refill pouch, big family pack refill pouch and evaporated milk in cans; to win free sachets of milk and lots of gifts. This offer is valid while stocks and gifts last. Brand Manager Three Crowns, Chioma Otisi-Igwe, said the Family Dance Off is among other things, â&#x20AC;&#x153;an expression of the brandâ&#x20AC;&#x2122;s desire to keep mums hearts healthy through an active lifestyle and a healthy nutrition,â&#x20AC;? adding that similar challenges like it have always been among the features of the brandâ&#x20AC;&#x2122;s annual Mom of the Year, MOTY campaign. She also emphasised the fact that Nigeriaâ&#x20AC;&#x2122;s very rich culture, particularly its various attire, is a very significant part of the Family Dance Off. The â&#x20AC;&#x2DC;Jaraâ&#x20AC;&#x2122; campaign will run simultaneously across all trade channels including the open retail market and neighborhood stores in Lagos, Abuja, Ibadan, Ilorin, Aba, Benin and Enugu till October 2020. As an extension of the campaign and to create excitement at these retail outlets, there would be consumer activation on certain days of the week where shoppers can also buy to participate in the â&#x20AC;&#x153;Plan a Healthy Breakfast or Smoothie Puzzle Challenge.â&#x20AC;? Shoppers who participate in this challenge are required to create a healthy breakfast or smoothie within a time frame to win exciting gifts.

Winner Emerges For 2020 African Kids Fashion Week

A seven-year-old winner, June Wisse, has emerged following this yearâ&#x20AC;&#x2122;s African Kids Fashion Week competition; an event created to showcase the best of African fashion for children. The second runner ups were Jayson Egbon and Oladeji Excel. This yearâ&#x20AC;&#x2122;s edition themed the â&#x20AC;&#x2DC;SHOWCASEâ&#x20AC;&#x2122;â&#x20AC;&#x2122; gave African kids the platform to showcase the best of African fashion inspired by the rich and diverse African culture with traditional fabrics in a creative and stylish way as organised by Smart Code Africa. The competition was held virtually, where contestants with the highest likes and engagement online became the African Kids Fashion Week (Showcase) winner. In a statement made available to the press, the Creative Director of the event, Mr. Ajibola Akande, said that the African Kids Fashion Week is an event created to showcase the best of African fashion for kids â&#x20AC;&#x153;This yearsâ&#x20AC;&#x2122; edition aims to build the attitude and develop personality for the young African to love and embrace African attires, â&#x20AC;? he added. Ajibola further explained the economic value of the project which is aimed at retaining the foreign exchange that goes out of Africa within Africa. He said, â&#x20AC;&#x153;Billions of dollars goes out of Africa from the children fashion industry and one of the main objectives of the African Kids Fashion Week is to help retain those funds within Africa. â&#x20AC;&#x153;When the children grow up wearing African fashion, they will definitely stick to it when they are of age. Imagine all the children in African are wearing African fashion, you cannot imagine how much that will contribute into the Africa economy in respect to IGR.â&#x20AC;? The event gave children between the ages of 4 to 12 years the opportunity to showcase the best of African Fashion Inspired by the rich and diverse culture in Africa. The online event started with an entry which started on August 9 and closed on August 22. Voting started on the August 23 and ended on August 29, 2020.

Boye-Ajayi Launches Book Plaqad Launches InďŹ&#x201A;uencer Compensation Report 2020 Olori The virtual launch of the first edition of the â&#x20AC;&#x153;Borderless Leading Marketing and PR Tech startup, Plaqad has launched the second edition of its influencer compensation report. The report, which was announced at a virtual launch on Saturday, August 29, 2020, is Sub-Saharan Africaâ&#x20AC;&#x2122;s first and only report focused exclusively on researching and sharing insights on the workings of influencer remuneration in Africaâ&#x20AC;&#x2122;s largest economy. This yearâ&#x20AC;&#x2122;s edition of the report features data and insights from more than 10,000 influencers, marketers and consumers exploring in detail topics ranging from influencer remuneration structure, products compensation, influencer marketing ROI, consumer perception, fraud in influencer marketing and more. According to the report, more than 80 per cent of influencers surveyed prefer monetary com-

pensation as against receiving products as compensation. Of the influencers who opted for products, 16 per cent of influencers say they will only accept products or services from luxury brands only. Speaking at the launch, CEO, Plaqad Limited, Gbenga Sogabike said: â&#x20AC;&#x153;The Influencer Compensation Report 2020 is the most robust piece of research on the topic of influencer compensation. This year, we surveyed more than 10,000 respondents encompassing all stakeholders, from consumers to brands, agencies to influencers.â&#x20AC;? â&#x20AC;&#x153;The report will undoubtedly help industry stakeholders and the general public make better sense of how payment and compensation work in the influencer marketing industry in Africaâ&#x20AC;&#x2122;s largest economy.â&#x20AC;? Founded in 2017 as â&#x20AC;&#x153;a social network connecting brands and

individuals to bloggers, news websites, publishers, and social media influencersâ&#x20AC;?, the Plaqad, in June, launched SocialCred, Africaâ&#x20AC;&#x2122;s first-ever social media influence ranking app. Beyond its cool factor, SocialCred serves an important function of helping brands assess and select influencers based on their influence quotient across Instagram, Twitter and Youtube. Influencer marketing has seen significant growth in recent years with the rise of digital innovation, ad-blocking technologies and even more importantly the compelling need for brands to connect with consumers in a deeper, more authentic and relatable way. With the COVID-19 pandemic necessitating prolonged social distancing and lockdown measures across the globe, traditional means of marketing like events, out-of-home and

newspapers have suffered setbacks as consumer behaviour continues to change. Companies like Plaqad are at the forefront of leveraging digital media technology in helping marketers, influencers, brands and the government navigate the new reality. The Financial Times predicts that the value of the global influencer market will reach $15 billion by 2022. In three years, Plaqad successfully onboarded over 15,000 influencers, creators, and publishers successfully placed over 25,000 pieces of content on social and web platforms across four continents, and directly paid out over 200 million naira ($570,000) on hundreds of campaigns to creators, effectively helping its programme members monetise their content, platform and influence.

Tradeâ&#x20AC;? a book written by Olori Boye-Ajayi, will hold today, September 4, 2020 at 10 am. The book, scheduled for launch at the Impact Hub, Milverton Road, Ikoyi, is packed with resources that can help entrepreneurs seize the opportunities associated with exporting out of Africa, as well as how to go about it and provide opportunities that will encourage growth. Over the past few years, the global economy has taken different turns, often times a downward spiral and other times a rebound especially right now. These uncertainties have left a lot of entrepreneurs burdened with the next steps to take business-wise. A lot of African entrepreneurs are looking to expand beyond Africa but are often stuck as they do not know where to begin or what exactly to do when it comes to export. There are so many demands to be catered to beyond the shores of Africa, and â&#x20AC;&#x2DC;Borderless Tradeâ&#x20AC;&#x2122; by Olori Boye-Ajayi, answers all the questions about exporting. The book is the ultimate guide for the average entrepreneur looking to be more, as Olori through her firsthand experience in the world of exporting, takes the reader through the simple steps required to start exporting. The book goes through the A-Z of exporting about anything out of Africa.Boye-Ajayi, is the founder of the Katie Wang Company, a growing global export fashion trading company with operations in four continents and also Co-founder and Chief Operations Officer of The Ark Coaching Company, a global company focused on human potential and enablement across Africa.

Foundations Partner CPN to Kick-Out Child Sexual Abuse Funmi Ogundare Ragamos Foundation in collaboration with Child Protection Network (CPN) and Smile and Shine Foundation, weekend, held a virtual meeting, to raise awareness on the issues of child sexual abuse. Participants who have been advocating for the child and women rights, adviced mothers whose children have been sexually abused especially by their fathers, to speak out. A Child Protection Field Officer, Christian Fate Foundation, Mary-Anne Mapenzi expressed

concern that in a case of rape of a child, the mothers tend to back out as a result of poverty or stigma they might face.According to her, â&#x20AC;&#x153;from experience when we were handling cases, we found that mothers were afraid to talk about it even if though their daughters have been abused. Some will even go as far as threatening them. Some women are not also empowered so even if their children are going through such an ordeal, they are helpless.â&#x20AC;? In a situation when a child has been abused, they said such a child must go through

medical test within 24 hours so that the report can be sent to the police. Founder of Ragamos Foundation and a community leader, Dr. Regina Inem said, â&#x20AC;&#x153;One needs to look for a human rights police officer so that once they are aware that the child has been abused, they can make a case and even call on other non government organisations for help.â&#x20AC;? A medical doctor and Founder, Smile and Shine Childrenâ&#x20AC;&#x2122;s Foundation, Dr. Nimi Ekere said mothers must support the child that had been abused all through

by showing them love. â&#x20AC;&#x153; It gives the child that confidence,â&#x20AC;? she said, adding that â&#x20AC;&#x153;when such a child is taken for medical checkup as early as possible, post exposure profilaxis drugs could be given to prevent occurrence of pregnancy or HIV/ AIDS. The child must be taken care ofâ&#x20AC;?, she stressed. Participants at the webinar stressed the need for parents to watchful of the kind of programs their children are watching on the television or songs they listen to, noting that these factors may expose them to sexual abuse.

Olori Boye-Ajayi

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MUSIC SHOWBIZ

â&#x20AC;ŚYour weekly entertainment delight

NOLLYWOOD

The Love Portion for Filmmakers Stories by Vanessa Obioha

ucked in a tranquil part of the Sangotedo area of Lagos state is the new creative facility by ďŹ lmmaker Ike Nnaebue. The serene and lush sits on three plots of land (half-acre) and is a minute drive from the Lagos Business School (LBS). Called â&#x20AC;&#x2DC;The Love Portionâ&#x20AC;&#x2122;, the ďŹ lmmaker describes the facility as a creative gift to Nollywood. â&#x20AC;&#x153;It is a place where one will instantly fall in love with,â&#x20AC;? gushed the ďŹ lmmaker. The facility is beautifully landscaped with greenery that gives it an Edenish vibe. The towering trees, the fragrant garden walkway at the backyard, the gentle sway of plants lined up in the compound, the cooing sounds of birds and the invitingly sparkling blue conjures an orgasmic image of natureâ&#x20AC;&#x2122;s colours and sounds. The magic continues inside where art and design beautifully transform spaces into a magniďŹ cent abode. There is a master bedroom with a jacuzzi, a tastefully furnished living room, a massive executive ofďŹ ce where great ideas can be conceived, and a bedroom equally lavishly designed. If one decides to take a break from work or host some friends at the facility, they can either hang out at the bush bar under a tree at the backyard or clink glasses at the classy bar inside. They can also bask in the sunlight and nature on the hammock situated in the backyard too. â&#x20AC;&#x153;Portion here denotes a part of the whole,â&#x20AC;?explained Nnaebue, â&#x20AC;&#x153;So our space is the love part of the whole industry; The Love Portion of the Nigerian film industry. It is also a portion of land that makes you fall in love with or rekindles your love for creativity. The hub has spaces for all the most commonly used locations in ďŹ lms. It is one place where a ďŹ lmmaker can walk in with her briefcase and come out with a full ďŹ lm a few days or weeks later, depending on the type of

Another view of The Love Portion

ďŹ lm he is making. The hub is ideal for ďŹ lm screenings, training, weekend getaways, and other creative activitiesâ&#x20AC;?. Nnaebue may likely be on his way to becoming the Tyler Perry of Nollywood with this latest ambition. He disclosed that the hub will serve as the primary production hub for the COTSeries originals. COTSeries is the name of the streaming and video-

on-demand platform he and his partner will be launching later in the year. â&#x20AC;&#x153;Our platform is a homegrown global brand with a great passion for supporting the local industry. So the creative hub is one of many gestures we will be extending to the industry periodically,â&#x20AC;? he said. The ďŹ lmmaker was recently invited to speak at the forthcoming 11th Durban Film

Mart. He is also among the ďŹ lmmakers that received funding from the Berlinale World Cinema Fund (WCF) for his documentary â&#x20AC;&#x2DC;No U-Turnâ&#x20AC;&#x2122;. â&#x20AC;&#x153;My vision has always been to be one of the topmost African international ďŹ lmmakers.The WCF grant is a big encouragement. It shows that one is on the right part,â&#x20AC;? he acknowledged.

The Voice Nigeria Shows OďŹ&#x20AC; Girl Power The singing reality TV show, The Voice Nigeria is making its grand comeback with more females in the spotlight after a nearly three-year hiatus. The show aired last in 2017 when contestant Idyl emerged as the seasonâ&#x20AC;&#x2122;s winner. For the third season, two female hosts and two female artists are selected to coach and nurture talents. Singers Waje andYemi Alade are retaining their judgesâ&#x20AC;&#x2122; seats while actress Nancy Isime and TV host Toke Makinwa will be hosting the show. It will mark the third time Waje is serving as a judge in the hit TV series that dominated the airwaves.The singer was among the ďŹ rst set of judges to coach talents in the show and was the only female coach. Alade joined in 2017, creating a gender balance with the exit of 2Baba. Thus, Timi Dakolo, Patoranking, Waje, and Alade made up that seasonâ&#x20AC;&#x2122;s judging panel. However, only Waje and Alade will be returning for that season as Timi and Patoranking are being replaced by Darey and Falz. It will also be the ďŹ rst time the show will have two female hosts. Previous editions were hosted by IK Osakioduwa and Stephanie Coker. The Voice Nigeria with this selection is putting its weight behind

the hard-working women in the industry, to ensure they are given equal opportunities. This season is expected to attract and help unleash the brightest of Nigerian musical talents for the global stage as the countryâ&#x20AC;&#x2122;s music industry continues to enjoy international attention. Organisers are promising an interesting twist for the comeback season with many virtual engagements with fans, talents, and the general public. In a statement, the organisers revealed that fans will go home with over N100 million in prizes. The Winning Talent of The Voice Nigeria Season 3 will go home with a monetary reward, a brand-new car, and an international recording contract. The show will be fully produced in Nigeria by UN1TY and Livespot360 in partnership with British television giant, ITV; international record label, Universal Music UK, and in conjunction with YouTube. The show is open to both female and male contestants who are Nigerians and have a government-issued means of identiďŹ cation. Talents must be at least 18 years by November 1, 2020. Registration for The Voice is free and is ongoing. It will close on September 19. Interested talents can visit the website to register.

Nancy and Toke Makinwa are the Voice Nigeria season 3 hosts

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MTN Holds Virtual Graduation Concert For MUSON Scholars Due to the restriction on social gathering caused by the strange coronavirus, the leading telecommunications giant in Nigeria MTN hosted a virtual concert for the 2020 graduating set of the Musical Society of Nigeriaâ&#x20AC;&#x2122;s (MUSON) School of Music on Monday, August 24. The show tagged â&#x20AC;&#x2DC;Evening with MUSON Starsâ&#x20AC;&#x2122; had performances by graduates of MUSON who gave the show of their lives! Various medleys by foreign and Nigerian acts such as Duduke by Simisola â&#x20AC;&#x2DC;Simiâ&#x20AC;&#x2122; Kosoko; Ma Gbagbe Mi by S. K. Oretimehin and Czardas by Vittorio Monti were performed to an entranced audience. The graduating students had the pleasure to perform â&#x20AC;&#x2DC;Gloria Cum Sancto Spiritoâ&#x20AC;&#x2122; and â&#x20AC;&#x2DC;Ise Orin nâ&#x20AC;&#x2122;ise waâ&#x20AC;&#x2122; with Sir Emeka Nowkedi as the Conductor and Tunde Sosan at the piano.

The MTN MUSON 2020 Graduates performing at their virtual graduate concert

The MUSON has organised graduation concerts for ďŹ nal year students for the past twelve years, however, this was the institutionâ&#x20AC;&#x2122;s ďŹ rst virtual graduation. The students performed live from the Shell Hall of the MUSON Centre while observing strict social distancing procedures. Classical music fans across Nigeria were intrigued by the pieces the

youngsters created with classical music this year. It was also an opportunity for curious fans of other genres of music to experience music at its purest. The graduates are beneďŹ ciaries of the MTN and MUSONâ&#x20AC;&#x2122;s Scholars Programme which has provided 300 scholarships to passionate music students. Calls for applications for the 14th edition are ongoing.

NigerianOscarSelectionCommitteeCallsforFeatureFilmEntries Chiamaka Ozulumba

The Nigerian Oscar Selection Committee (NOSC) has announced a call for feature ďŹ lm entries by Nollywood ďŹ lmmakers into the 93rd Academy AwardsÂŽ (Oscars). The Academy Awards recently opened entries to honour the best new ďŹ lms released globally, with the event set to hold on April 25, 2021. According to the committeeâ&#x20AC;&#x2122;s chairperson, Chineze Anyaene, the countryâ&#x20AC;&#x2122;s ďŹ rst submission in 2019 represented a pivotal moment for the industry, as the committee has witnessed a rapid rise in the quality of Nigerian ďŹ lms, especially in storytelling. â&#x20AC;&#x153;With many ďŹ lmmakers and industry practitioners aspiring for better creative and business opportunities, the submission has opened a new dimension for the industry, which would also attract more investors. â&#x20AC;&#x153;We were able to make our ďŹ rstever entry submission to the Oscars for the International Feature Film Awards category as a country, and the awareness this has brought to the industry as a whole has been amazing. â&#x20AC;&#x153; It has opened the industry to other markets, and we hope to see partnerships with other industries soon,â&#x20AC;?she explained. The global COVID-19 pandemic mandated the closure of commercial motion picture theaters worldwide. Until further notice - and for the 93rd Academy Awards year only, the country selected ďŹ lms that had a previously planned theatrical release but are initially made available through a reputable commercial streaming distribution service or video on demand may qualify for awards consideration in the International Feature category for the 93rd Academy Awards. Revealing the new rules for award participation, Anyaene stated thatâ&#x20AC;&#x153;due to guidelines and government-mandated rules to manage the COVID-19 spread, ďŹ lmmakers have to provide to the

NCC Arrests 15 Pirates in Lagos, Onitsha Raids The Nigerian Copyright Commission (NCC) in a statement said it arrested 15 suspected pirates during simultaneous enforcement operations carried out in piracy hotspots in Lagos and Onitsha recently. â&#x20AC;&#x153;Pirated Christian devotional books estimated at half a million naira were conďŹ scated by copyright inspectors on August 28, during antipiracy raids executed with armed police backup in Idumota and Ajegunle, Lagos as well as at different outlets in Onitsha Main Market,on Kanu and Moore Streets, Onitsha, Anambra State. â&#x20AC;&#x153;The operations were sequel to surveillance activities and intelligence gathering based on petitions by stakeholders complaining of piracy of their copyright works in the states,â&#x20AC;?the statement reads. In Lagos, the Director of NCC Lagos OfďŹ ce, Matthew Ojo, who coordinated the enforcement operations in Idumota and Ajegunle book markets indicated that six suspected pirates were arrested and copies of a prayer book, â&#x20AC;&#x2DC;â&#x20AC;&#x2122;Devotion to the Most Precious Blood of Our Lord Jesus Christâ&#x20AC;&#x2122;â&#x20AC;&#x2122; estimated at two hundred and sixty thousand Naira (N260,000) were conďŹ scated. According to him, the arrested suspects were Gabriel Ibeh, Ifeanyi Egbue, Stephen Njoku, Chukwudi Nwankwo, Ramond Nwaoke, and Mrs. Pauline Eze. He stated that the Commission carried out the anti-piracy raids following investigation of a petition by the Apostolate of the Most Precious Blood of Jesus Christ, concerning

allegations of infringement of its publication, a prayer book entitled, â&#x20AC;&#x2DC;â&#x20AC;&#x2122;Devotion to the Most Precious Blood of Our Lord Jesus Christâ&#x20AC;?. In a similar enforcement raid in Onitsha, Anambra State, the Commissionâ&#x20AC;&#x2122;s operatives arrested nine suspects with suspected pirated copies of the prayer books. The State Coordinator, NCC Onitsha OfďŹ ce, Gabriel Anikwem, who led the anti-piracy raid, stated that the seized prayer books:â&#x20AC;&#x153;The Voice of the Little Lilliesâ&#x20AC;?,â&#x20AC;&#x153;Devotion to The Most Precious Blood of Our Lord Jesus Christâ&#x20AC;&#x2122; andâ&#x20AC;&#x153;The Chaplet of the Precious Blood of Jesus Devotionâ&#x20AC;? were estimated at N228,000. According to him, among those arrested was Mr. Nweke Patrick, the owner of St. Patrickâ&#x20AC;&#x2122;s Religious Centre (Nig), located at No. 14 Kano Street, Central Mosque, Onitsha, where the complainants had reportedly made an evidential purchase of pirated copies of the books. Other arrested suspects were Okeke Onyinye, Uzondu Odinaka, Nwobodo Dorathy, Oninna Amarachi, Nwangwu Chidera, Enujeko Uche, Ogochukwu Chukwuma, and Alikwe Kenechukwu. He said the operation was carried out following the investigation of a petition by the Apostolate of the Precious Blood of Jesus Christ, Olo in Ezeagu Local Government Area of Enugu State, which complained of piracy of its copyright titles, contrary to the provisions of the Copyright Act.

ViacomCBS Networks International Names Olivier Jollet Senior Vice President Ëž Ă&#x2122;Ă&#x2013;Ă&#x2013;Ă?Ă&#x17E; Ă&#x17E;Ă&#x2122; Ă&#x2122;Ă Ă?Ă&#x153;Ă?Ă?Ă? Ă&#x2014;Ă?Ă&#x153;Ă&#x2018;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x;Ă?Ă&#x201C;Ă&#x2DC;Ă?Ă?Ă?Ë&#x153; Ă&#x;Ă&#x153;Ă&#x2122;Ă&#x161;Ă?Ë&#x153; Ă&#x201C;Ă&#x17D;Ă&#x17D;Ă&#x2013;Ă? Ă&#x2039;Ă?Ă&#x17E;Ë&#x153; Ă?Ă&#x153;Ă&#x201C;Ă?Ă&#x2039; Ęś Ă?Ă&#x201C;Ă&#x2039; Chiamaka Ozulumba

Anyaene

Academy documentation (original document(s) and an English translation) of government-mandated theater/cinema closure dates, previously planned theatrical release and steaming distribution or video on demand agreementsâ&#x20AC;?. Eligible ďŹ lms have to be made available on the secure Academy Screening Room member site within 60 days of the ďŹ lm ofďŹ cial selection. Films that, in any version, receive a nontheatrical public exhibition or distribution before their ďŹ rst qualifying release will not be eligible for consideration. More information on special rules for the award can be found on thenosc.org.special-rules-foriff-awards. According to the Selection Committee, submission is set to close on October 2, 2020. Filmmakers can submit their entries to the NOSC by visiting https://thenosc.org/submityour-ďŹ lm. For technical submission details and further enquiries, please email info@thenosc.org. The Selection Committee is ofďŹ cially recognised by the Academy of

Motion Pictures Arts and Sciences to make submissions on behalf of the Nigerian ďŹ lm industry. The 93rd Nigerian Oscar Selection Committee members include ChinezeAnyaene (Chairperson), Mahmood Ali-Balogun (Vice-Chairperson), Adetokunbo Odubawo,Bruce Ayonote,Charles Novia, Ego Boyo, Mildred Okwo, Moses Babatope, Omoni Oboli, ShuaibuHusseini, Victor Okhai andYibo Koko. The Nigerian Oscar Selection Committee (NOSC), registered under the laws of the Federal Republic of Nigeria asâ&#x20AC;&#x153;The Oscar Selection Association of Nigeriaâ&#x20AC;?is a cultural organisation whose mission is to recognise and celebrate the art of cinema by showcasing Nigerian ďŹ lms and ďŹ lmmakers to the Academy Awards, popularly known as the Oscars for the category of Best Foreign Film. The committee is to submit and represent Nigerian feature ďŹ lms at the Academy of Motion Picture Arts and Sciences Awards, popularly known as the Oscars.

ViacomCBS Networks International (VCNI) has announced the appointment of Olivier Jollet to head up a new business unit which includes the entire digital portfolio - AVOD, SVOD, Mobile services and products as well as Advanced Advertising and VDSI - for Europe, Middle East, Africa and Asia (EMEAA). As the company embarks on an aggressive phase of digital transformation, its EMEAA division, led by Raffaele Annecchino, President, ViacomCBS Networks EMEAA (VCN EMEAA), has created a new dedicated unit to drive its digital business and capture new opportunities focused on the pay and free streaming sector, as well as mobile business, advanced advertising andViacomCBS Digital Studios International. As SeniorVice President Emerging Business,VCN EMEAA, Jollet will be responsible for developing and expanding the digital business across these markets reporting directly to Raffaele Annecchino. â&#x20AC;&#x153;I am thrilled that Olivier will be taking on this new role,â&#x20AC;? said Annecchino.â&#x20AC;&#x153;Olivierâ&#x20AC;&#x2122;s digital expertise and entrepreneurial approach are essential to driving growth in these critical areas of the business. With digital initiatives in the region managed by Jollet, we will be ideally positioned to expand our integrated

Jollet

digital ecosystem while offering audiences the best of our brands, products, content and platforms.â&#x20AC;? â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s an honor to be appointed to this strategic role at such a critical moment for the companyâ&#x20AC;&#x2122;s digital expansion,â&#x20AC;?said Jollet.â&#x20AC;&#x153;I thoroughly look forward to growing scale and reach in these business areas and furthering the companyâ&#x20AC;&#x2122;s digital transformation.â&#x20AC;? Jollet has been MD Europe for Pluto TV since 2016, where he has led the strategy and business development for Europe. Prior to his engagement at Pluto TV, Jollet worked at Watchever and Universal Music. He co-founded Quazer, a unique digitalTV-like service and served as Managing Director until Quazerâ&#x20AC;&#x2122;s acquisition by PlutoTV in October 2016. Jollet will now continue in his position as MD Europe Pluto TV, whilst expanding his remit to include all digital properties within the EMEAA portfolio.

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LIFE

Mele Kyari: Running a Corporation Open to Public Scrutiny Nume Ekeghe writes that given the secrecy that has for decades dogged government income and spending, the decision by the Nigerian National Petroleum Corporation under Mele Kyari to open its books, is a boost to the fight against corruption

hen on February 18, 2020, President Muhammadu Buhari, declared that very soon all government financial transactions would be done in the open on account of the reforms being pursued by his administration, many scoffed. Addressing the passing-out parade of the Detective Inspector Course 5 of the Economic and Financial Crimes Commission (EFCC) in Kaduna, Buhari said his resolve is to ensure that reforms are deepened such that there will be no hiding place for corrupt persons and proceeds of corruption. According to him, the aim of that move was to ensure that no government financial transactions are done in secret and all are subjected to public scrutiny. Tapping into this resolve, one of the government agencies that made the first move was the Nigerian National Petroleum Corporation (NNPC). Established in April 1977, the corporation has always nursed the ambition of becoming a world-class oil and gas company but given the way it was run for decades with itâ&#x20AC;&#x2122;s books closed to public scrutiny, that goal was looking far-fetched by the day. In its 43 years of history, itâ&#x20AC;&#x2122;s operational structure placed higher premium on opacity rather than accountability and transparency, even when global best practices demanded such as other energy-producing nations like Saudi Arabia, Iraq and Iran designed strategies that enabled the public to monitor the operations of their national oil companies. Year in, year out, industry watcher, stakeholders, and especially civil society organisations, kept harping on the worrisome trend of opacity, yet nothing changed as only the corporation knew how much Nigeria actually earned from crude oil and other associated businesses and it declared to the public, whatever it deemed necessary. For stakeholders, their worry was that financial probity in the NNPC would boosting the nationâ&#x20AC;&#x2122;s domestic resource mobilisation efforts towards ensuring socioeconomic development of the country, as well as ensure operational discipline flows down to all the subsidiaries of the NNPC. So when the present NNPC Group Managing Director (GMD), Mallam Mele Kyari, in his maiden speech on July 8, 2019, made it stoutly clear that under his watch, the corporationâ&#x20AC;&#x2122;s businesses and governance code, would be accountable to the 200 million Nigerians who are the true owners of the company, it was met with derision. But on June 12, the NNPC broke a 43-year jinx as it released its audited annual reports and financial statements for the year ended December 31, 2018. It encapsulated the performance of 20 of its subsidiary companies operating within and outside Nigeria. Speaking after the public disclosure of the accounts, Kyari promised to expedite actions on the corporationâ&#x20AC;&#x2122;s preparation and subsequent release of its 2019 audited financial statement. As expected, the rare feat did not go unnoticed as it garnered him tonnes of accolades from industry watchers and stakeholders. The Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Mr Waziri Adio, who described it as very good for the countryâ&#x20AC;&#x2122;s image locally and internationally, added that having such disclosures is good for transparency

Mele Kyari

and accountability. While congratulating Kyari and team, he urged them to make this a regular practice and in open data format. Also, recently, the Governor of Akwa Ibom State, Mr. Udom Gabriel Emmanuel, while welcoming the NNPC Board members to the Government House, Uyo, said that his membership of the National Economic Council had exposed him to the activities in the oil and gas industry, affirming that the council has noted the positive impact the crop of the management and Board of NNPC is making in the economy of the nation, particularly in respect of adherence to transparency and accountability in the petroleum sector. Aside publishing its audited accounts recently, the new team at NNPC is treading on a new path of probity. Businesses are now conducted in a transparent and accountable manner, while Artificial Intelligence (AI) has been deployed to boost the accounting processes of its corporate headquarters, subsidiaries, companies and Corporate Services Units (CSUs). These new innovations have launched the NNPC on a new pedestal. Taking a step further from the verbal commendation, on August 18, Extractive Industries Transparency Initiative (EITI) made the corporation one of its partner companies. This move ensured the NNPC joined a group of 65 other extractives companies, state-owned enterprises, commodity traders, financial institutions and industry partners committed to observing the EITIâ&#x20AC;&#x2122;s support company expectations. To be a partner to EITI comes with conditions, all of which tallies with the transparent operational structure Kyari set out to achieve.

EITIâ&#x20AC;&#x2122;s supporting company expectations require that NNPC- publicly declares support for the EITI Principles; promoting transparency throughout the extractive industries, helping in public debate and provision of opportunities for sustainable developments; publicly discloses taxes and payments, and publicly discloses beneficial owners and take steps to identify the beneficial owners of direct business partners, including Joint Ventures and contractors. Others include engaging in rigorous procurement processes, including due diligence in respect to partners and vendors; delivering natural resources in a manner that benefits societies and communities; and ensuring that company processes are appropriate to deliver the data required for high standards of accountability. EITI further listed three areas in which NNPC was expected to advance its inclination to transparency, namely: revenue and payment to government; contracts governing petroleum exploration and production, as well as consolidated group-level financial statements. Since the new rules sit well with the operational blueprint evolved by the NNPC GMD to take the corporation to the next level, he added added that NNPCâ&#x20AC;&#x2122;s choice as an EITI partner company aligns strongly with its corporate vision and principles of Transparency, Accountability and Performance Excellence (TAPE), which his management team has championed since assumption of office as NNPC helmsman on July 8, 2019. He assured that NNPC was on a trajectory towards greater transparency and would

continue to collaborate with NEITI and EITI co and other such bodies. an Commending the partnership, EITI Board Chairperson, Rt Hon. Helen Clark, while Ch welcoming NNPC to the fold, noted the w corporationâ&#x20AC;&#x2122;s enormous role in Nigeriaâ&#x20AC;&#x2122;s co economy, stating that the new status would ec afford the corporation the opportunity to af deepen its commitment to transparency and de in turn ensure that Nigerians benefit from the nationâ&#x20AC;&#x2122;s hydrocarbon resources. na Similarly, Nigeriaâ&#x20AC;&#x2122;s Minister of Finance, Budget and National Planning, and a former Bu EITI Board member, Mrs Zainab Ahmed, noted EI that the increased transparency in NNPCâ&#x20AC;&#x2122;s th revenues was already contributing to imre provements in Nigeriaâ&#x20AC;&#x2122;s domestic resource pr m mobilisation efforts. Those with private sector orientation know that Kyariâ&#x20AC;&#x2122;s target-driven style is uncommon th in public service; as it is bogged down by incredible bureaucracy. But as a seasoned techin nocrat with vast knowledge of the petroleum no industry, he has obviously designed strategic in ways of getting results, amid lean resources, w without veering off the due process path. w Given that NNPC is the economy pillar and flagship agency in the oil and gas secan to tor, experts noted that its new venture into ac accountability and transparency is one but su sustaining the feat so far achieved remains pa paramount. Accordingly, they suggested that a scorecard be developed and appropriate checks put in place so that there would be milestones to be tracked to ensure that the corporation do does not go off course. Also, the need for sustainability cannot be overemphasised. su

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METRO

â&#x20AC;ŚYour city life in print

For Joyce Uche, Itâ&#x20AC;&#x2122;s a Mothering Award Nseobong Okon-Ekong

ecently, the Diocese of Isiala Ngwa South, Anglican Communion, St. Peterâ&#x20AC;&#x2122;s Cathedral, Owerrinta, Abia State, held a thanksgiving service to mark her 2020 Mothering Sunday celebration with the theme, â&#x20AC;&#x153;The Woman of Sacrifice.â&#x20AC;? The sub-theme, was, â&#x20AC;&#x153;Esther, a Case Study,â&#x20AC;? sourced from the book of Esther Chapter 4:1-16. On that occasion, a member of the church, Chief (Mrs.) Joyce Chibuzor Uche, was selected and honoured as a modern day Esther. In chapter four of the book of Esther the story is told of how Haman, a court official, sought and received permission from King Ahasuerus of Persia Media to exterminate the Jews who were the kinsmen of Queen Esther. The law of the Persians and Medes prescribed capital punishment for an unscheduled appearance before the King by anyone, including the Queen. Therefore, the attempt by Esther to approach King Ahasuerus on behalf of her people was at great risk to her life. Not minding the risk, Esther called on the Jews asking them: â&#x20AC;&#x153;go, gather together all the Jews that are present in Shushan, and fast for me, and neither eat nor drink three days, night and day: I and my maidens will fast likewise; and so will I go in unto the king, which is not according to the law; and if I perish, I perish!â&#x20AC;? In these words, she made the gamechanger decision to be â&#x20AC;&#x153;The Woman of Sacrificeâ&#x20AC;? in her time. Honoured as â&#x20AC;&#x153;The Woman of Sacrificeâ&#x20AC;? on by the Diocese of Isiala Ngwa South, Anglican Communion, the question may be asked: compared to the Biblical Esther, what are the qualifying credentials of Chief (Mrs.) Joyce Chibuzor Uche â&#x20AC;&#x201C; has she ever put her life on the line on behalf of her people? In other words, has she been a pace-setter? The citation of Mrs. Uche at the event comes in handy: â&#x20AC;&#x153;As a youth worker in the 80s at the then Federal Department of Youth Developmnent, now Federal Ministry of Youths and Sports, Mrs. Uche organized and co-ordinated various youth programmes, workshops, leadership training, lectures and talks on drug abuse and control, as well as the promotion of understanding between elders and the youths.â&#x20AC;? Mrs. Uche also led Nigerian youths to various international youth exchange programmes such as the Commonwealth Youth Exchange programme at Wigan, Britain in 1987. She attended the International Youth Camp, held at Arish, Egypt, as well as the International Youth camp held in Sydney, Australia in 2004 and 2008 respectively. While still in the Federal Civil Service, Mrs. Joyce Uche was part of the Federal Government delegation to Youth conferences: the Commonwealth meeting on Youth development in Trinidad and Tobago in 1995; and another in Botswana in 2003. She was also part of a bilateral agreement meeting on Youth in Beijing, China, in 1996; she also represented Nigeria on Youth Development matters at meetings of African Union ministers in charge of youths in Addis Ababa, Ethiopia, in May of 2006; and the first Conference of Ministers in charge of youths of the African Union in Addis Ababa, Ethiopia, where the first ever African Youth Charter was adopted. The Charter was approved by African Heads of State in Banjul, the Gambia, in 2006. In the book of Esther 2:8-9, Modecai prepared Esther for qualification as Queen and the redemptive role she subsequently played in that position on behalf of her people. Similarly, Mrs. Joyce Uche had her preparation. Born in Owerrinta on July 10, 1949, to the late Mr. Anthony Nnnadede and Mrs. Evelyn Nene Mbogu, the young Joyce Chibuzo started out on life like any other child. Her extraordinariness and sense of special assignment, however, began to manifest in her insatiable quest for knowledge: a degree in Engligh from the University of Nigeria, Nsuka; a Masters in Journalism from Ohio

Mrs. Joyce Uche

State University, Colombus, USA; and a law degree from the University of Lagos, the fruitage of that quest. The three disciplines were the ideal preparatory combination for a life of advocacy, evanglelism and pacesetting. And her marriage to an erudite scholar and former Head of the Department of Mass Communication, University of Lagos, the late Prof. Luke Ukansanya Uche, became the icing on the cake for her crusading career and vocation. At the end of her National Youth Service Corps programme, Mrs. Uche worked with the National Education Technolgy Centre, Kaduna from 1979 â&#x20AC;&#x201C; 1980. She taught at the Kaduna Poytechnic from 1981 â&#x20AC;&#x201C; 1982 and joined the then Federal Department of Youth Development, now Federal Ministry of Youths and Sports, in 1985. And there was again a sourge in her cravings for more knowledge. This time, she started with an induction course on youth development at the Citizenship and Leadership Training Centre, Sea School, Apapa, Lagos. The other courses and workshops she attended included the National Workshop on Social Work at the Universithy of Ibadan in 1992, Workshop on Street Children and Street Youths in Stuttgart, Germany in 1993; Youth Entreprenuership Development Workshop, Lagos, March 1995; National Conflict Resolution Skill Training Workshop, Lagos, in 1998, and International Strategic Management Course, Accra, Ghana, in 2005. In spite of her busy schedule as a public servant, Mrs. Uche remained active in the church being a buff of Christian evangelism. Joyce Uche is a member of the Cathedral Church of the Advent Gwarinpa, Abuja. She was the Vice Chairperson for the 2009 and 2010 Mothering Sunday planning committee in the Cathedral. Even with her absence from Nigeria for several years, she remained an active member of the Mother Union and Womenâ&#x20AC;&#x2122;s Guld of the Cathedral Church of Avent.

Joyce Uche is a member of the Christ Morning Star Society in the Cathedral, a society whose aims are to portray, follow and live the life of Jesus Christ in thought, words and deeds. Through this society, Mrs Uche and other members help in the work of the church by frequently visiting the Gwarinpa General Hospital to provide care for the sick. Mrs. Uche is also a member of the Chambian Plaze House Fellowship Group as well as When Women Pray (WWP) Abuja chapter, which is a non denominational group. In 2017, Mrs. Joyce Chibuzo Uche went to the Holy Land in the company of 50 other pilgrims from St. James Cathedral Chicago, USA, under the leadership of the Rt. Rev. Jeffrey Dean Lee, the Bishop of Episcopal Diocese of Chicago. Joyce Uche is also an active member of Ngwa Forum, Abuja, a socio-cultural group that focuses on the interest of Ngwa people and Ngwa land. Advocacy; evangelism and pace-setting - that is the triad summarizing the life preoccupation of Chief (Mrs.) Joyce Chibuzor Uche; that is the definition of sacrifice; that is Esther yesterday, today and tomorrow. The Biblical Esther braved the odds to indemnify her people; as social worker per excellence, Mrs. Uche labours for society. She is indeed the Esther of our time, and the Diocese of Isi Ala Ngwa South, Anglican Communion, has said so in the award of Daughter of Zion conferred on her in the presence of relations, friends and well-wishers, including the Akwa Ibom State Deputy Governor, Mr. Moses Ekpo, MFR, whose son, Mr. Francis Moses Ekpo, is the husband to a daughter of the awardee. Commenting on the award, Mr. Ekpo stressed that â&#x20AC;&#x153;Mothers are pillars in their respective homes, even though they are not the head of the family; and that Chief (Mrs.) Joyce Chubuzor Uche has demonstrated this in her roles as a mother and wife.â&#x20AC;? It was also the view of the Deputy Governor that mothers equally build communities and societies through procreation; and that the

awardee has been able to positively impact her world because she was first an asset at home. Ekpo thanked the church for the thoughtfulness of setting aside a day to recognise mothers for the roles they play in the family and society at large â&#x20AC;&#x201C; roles of stabilisation, sacrifice and meticulous nurture; which, he said, were first impressed upon him by his late mother as well as departed wife to whom he owes his accomplishments in life. In his message, the Archbishop of Aba Province and Bishop of Isiala Ngwa South Diocese, Most Rev. Isaac Nwaobia, advised the women to use their privileged position as mothers to win the younger generation to Christ. â&#x20AC;&#x153;When you look into your motherâ&#x20AC;&#x2122;s eyes, you know that is the purest love you can find on this earth.â&#x20AC;? These are the words of Mitchell David Albom, the American author and broadcaster, as quoted by Adaku Adamarama Ekpo, the daughterin-law to the Deputy Governor, in her message of felicitation to her mother on this occasion of her recognition. It justifies the idea of a Mothering Sunday as practiced by the Anglican Communion and explains the decision of Mrs. Uche to share the honour of her recognition with mothers everywhere who may not have achieved similar feats as she has attained in education and social advocacy. â&#x20AC;&#x153;On behalf of all mothers, particularly mothers in the Anglican Church, I wholeheartedly accept this award,â&#x20AC;? she said. The observance of Mothering Sunday by churches with the award handed out to mark the event, such as that accorded Mrs. Joyce Chibuzor Uche by the Anglican Communion, is a fitting tribute to mothers as the supreme incubators and nurturers of life. Mrs. Uche retired from the Federal Civil Service as Director in the Ministry of Women Affairs in 2009.

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POLSCOPE NDDC, National Assembly and Matters Arising

ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019; Ă&#x17D;Ă&#x17D;ĂŁ Ă&#x17D;Ă&#x201C;Ă ĂĄĂ&#x153;Ă&#x201C; Ă?Ă&#x17D;Ă&#x17D;ĂŁË&#x203A;Ă&#x2122;Ă&#x17D;Ă&#x201C;Ă ĂĄĂ&#x153;Ă&#x201C;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;Ë&#x153; Í¸Î&#x20AC;Í¸Í˝ ÍťÍ¸Íž Î ÍťÍ˝Íž

Canticlesâ&#x20AC;Ś.

INEC Versus Edo APC

Obaseki

Akpabio

ust like an endless tale, the melodrama in the Niger Delta Development Commission (NDDC) has continued to unfold, each day, with a new sizzling scene and storyline. At the beginning of the week, the story had leaked, allegedly from the Executive Director Project of the Interim Management Team (IMT) of the commission, Dr Cairo Ojougboh who was said to have alleged in a newspaper interview that part of the N83 billion the IMT spent in five months was in settling each senator with N20 million and each House of Representatives member, with N15 million. If that was true, it would have meant the senators collected N1.8 billion, while the House of Representatives members collected N5.4 billion, totaling N7.2 Billion. It didnâ&#x20AC;&#x2122;t need much scrutiny to see the unbelievability of the claim, except that in Nigeria, most politicians and public office holders have long deadened the faculty of logic and reasonability in them It was a news flake that was bound to ruffle feathers. It did not disappoint. Before the close of work on Tuesday, the senate was already fuming with anger challenging Ojougboh to prove his allegation or tender unreserved apology. Again, the apology (presented as â&#x20AC;&#x153;clarificationâ&#x20AC;?) came flying in before bedtime. Ojougboh had, as usual, blamed the media for quoting him out of context, urging the lawmakers to discountenance the allegation. But who would blame those who had believed Ojougboh? Was it not the same man who allegedly spent N52 million hiring flying boats to go inspect projects in the riverine? Was it not this same man that said they spent N450million to provide face masks and hand sanitisers to the Nigeria Police Force (as if the NDDC is the Police service Commission or even Ministry of Police Affairs)? It is this same IMT that said it spent N1.5 Billion, no, N1.32 billion â&#x20AC;&#x153;to take care of ourselvesâ&#x20AC;?, against the COVID-19 pandemic. So, it would not really rankle that much if indeed, the IMT, like a drunken gambler, had splurged N7.2 billion to service the interest of the lawmakers, perhaps so they can look the other way. In fact, it is alleged that all the mess in NDDC spilled because there was disagreement in the sharing ratio of the resources of the commission. It is an argument that will never end. But what is true and in the public domain is that many of the lawmakers truly harass and blackmail the operators of the NDDC to get fat and juicy contracts and even to fund their personal interests. It just didnâ&#x20AC;&#x2122;t start with the 9th Assembly. Many of the lawmakers, especially those sitting in the NDDC committee in both chambers are mega contractors to the NDDC. The IMC released some names. It is largely believed to be credible. Many of them use either proxies or third party companies to execute such contracts. Worse still, they collect the money and abandon the contracts. The lawmakers concerned know themselves and cannot sincerely deny it . To insist on scientific evidence will be like investigating how water got into coconut. In the face of these super reckless mismanagement of public resources, sits the twin evil of poverty and ignorance in the region. The illegal IMC has neither improved human capacity in the region, nor improved the infrastructural deficits in the region. Beside taking care of themselves, the only other visible thing is the completion of the age-long

NDDC headquarters in Port Harcourt, even though some critics say the secretariat is anything but really ready. But if all the above wastages do not shock us, the decision of the presidency to release yet another N722.3 million to fund the much-talked about forensic audit of the activities of the commission from inception, should. So what happened to all the monies claimed to have thus far been spent on the so-called forensic audit exercise? And wait a minute, didnâ&#x20AC;&#x2122;t the presidency say the audit which was announced in October last year was to last for six months? Before that six months came up, the Minister of the Niger Delta, Senator Godswill Akpabio, convinced the President to extend, by another six months, the life span of the audit exercise. And just before deadline came around, Akpabio also announced another extension of the exercise till the end of the year. And just a little over a week ago, the same Akpabio announced after Federal Executive Council (FEC) meeting that the presidency has offered to sponsor the forensic audit. So , what has been happening since last October? Does it mean, like many believed, that the audit is yet to commence? This is ten months after! But in February, five months before the bubble busted in the commission, Akpabio had regaled the nation with the activities of the audit team, speaking like in a short while from then, the report of the forensic audit would be ready. At that time, he had presented Kabiru Ahmed, as Lead Forensic Consultant, and Messrs Olumuyiwa Basiru and Co, as the auditor and that they were ready for the exercise. Hear Akpabio last February : â&#x20AC;&#x153;To be able to set good example for the development commission, the commencement of the full forensic audit of the NDDC will charge a way forward. I will tell you, sanity has started coming into the commissionâ&#x20AC;Śâ&#x20AC;?. Five months later, anything but sanity overwhelmed the commission and all its operational stakeholders. What is worse, we are back to point origin! The worry is what does Akpabio tell Mr President that he so easily changes him? How come Akpabio is so masterful in deoderising the smell of fraud and corruption when he appears before the president? How come the president is being corralled along Akpabioâ&#x20AC;&#x2122;s game plan without any check or psycho renaissance on the part of the president? Does Akpabio mesmerize or even bewitch the president? The way it is going, the lifetime of the forensic exercise, and thus the life span of the IMT will inadvertently be extended again, for the third time! It is surprising that after all the messy miasma revealed at the recent public hearing of the NDDC management, not only is calm returned, with no heads rolling (yet), nobody queried, nobody suspended or even sacked, the Federal Government is yet gratuitously offering to expend another N722.3million to fund the audit exercise. And in a few weeks from now, the ministry would say because the forensic auditors are determined to do a thorough job, they should not be rushed and so their deadline be extended ad infinitum. And some presidential spokesman will so announce; and that will be the Akpabio magic.

Ize Iyamu

he Edo gubernatorial duel is just about two weeks away. And the ground is already shaking and quaking.

Stop sounding like Femi Fani-Kayode! Is Mike Igini not a Nigerian, and so susceptible to the viral effect of corruption? Or is he an angel?

There is no ground shaking and quaking anywhere. There is no earth tremor in the whole of Edo State. All is calm. There is a determination to sustain peace and maintain order before, during and after the contest. Look, you nay sayers will be disappointed.

Look, you must understand that certain persons have stellar qualities that are clearly transcendental from the plain of mere mortals. Without sounding immodest, Igini is a tested and trusted Nigerian patriot. Did you follow all the shenanigans that took place in Akwa Ibom in the last general election? Did you not hear of how Igini stood his ground, despite all the threats and intimidating tendencies and declared that he was sent to Akwa Ibom State to count ballot papers, not count Naira? At the end of the day, could he be cowed? Didnâ&#x20AC;&#x2122;t you follow how the election went in Akwa Ibom? Is it that kind of man that will seek to manoeuver and manipulate an election in a distant state? And come to think of it, even if such will happen, will the INEC not seek to support the party at the centre which is the APC? Why will it seek to support and promote an opposition party? Truly, common sense is not common

You are suffering acute delusion. You cannot read the handwriting on the wall? Canâ&#x20AC;&#x2122;t you see the gathering storm? How many times has the Inspector General of Police raised the alarm over the issue of stock-piling of arms? Didnâ&#x20AC;&#x2122;t you see the rain of bullets on PDP campaign convoy recently? Have you not been hearing how there have been attacks and counter attacks? And you say there is no earth tremor? I pity you. Most times you people in the media exaggerate these insignificant incidents just to create fear in the minds of the people. I can tell you it is an act of great disservice. Media men are supposed to report and reflect the realities on ground. If you donâ&#x20AC;&#x2122;t trust what you are hearing ignore it at your own peril. The people of Edo State are wiser now. They are no babies. They know who is deceiving them, or those they cannot trust. In short, they know who they will vote for. No coercion or intimidation will change anything radically. You speak as if it is such a jolly ride. You think the battle for Osadebey House is Igue festival? Ok, did you hear of the new conspiracy theory being spinned in the state? Conspiracy theory? By who? From who? About who? Calm down! You see, you are not even aware. Look, it is war. And in this matter fair is foul and foul is fair. Take it from me. Everything, I mean everything, is being put into this war. Every form of strategy, trickery, metaphysics and more are being applied. Did you not hear that the respected Akwa-Ibom Resident Electoral Commissioner, Mr Mike Igini, was accused of hobnobbing with the PDP in Edo State with the ultimate intent of manipulating the electoral process in favour of the party? Yes, I heard the story. What was Igini doing with PDP stalwarts in a hotel room? Does he not know the meaning of expediency? That such a meeting cannot be expedient at this time? Gushâ&#x20AC;Ś. I am surprised you can even reason like this? First, it was a chance meeting in the restaurant of a hotel, not a private room. Pray, are you saying that a REC does not have a life anymore? Because of a coming election he can no longer exchange greetings with an old friend, regardless of whatever political party he/ she belongs? Do you know Mike Igini?

What are you trying to say? Are you implying that the election in Edo State on September 19, will not be susceptible to manipulation with the active or inactive connivance of the INEC? Is it not this same INEC that is notorious for inconclusive elections? It doesnâ&#x20AC;&#x2122;t matter what people like you think. You can spin and weave all sorts of weird and usual conspiracy theories about how the election will be held. It will not change anything. The INEC will strive to conduct the election in a fair and transparent manner, no matter whose ox is gored. I am aware that even the political parties not visible right now, but are on the ballot, as also-rans, will still turn around to blame INEC when they eventually lose, having sown and watered the seeds of defeat all along. That is not the point here. People are concerned that the umpire may not exactly be neutral in its officiating. Donâ&#x20AC;&#x2122;t blame the people. They have seen many things in the past. Donâ&#x20AC;&#x2122;t forget this is the home state of the legendary â&#x20AC;ŚMr Fix It . In Edo State anything can happen. Not under this dispensation. The mantra is for One-man-one-vote. The myth of a godfather has been dispelled and buried. There is no room for rubbish. The law enforcement agents will swarm on Edo State. There will be no room for misnormer. Keep talking like a class room theorist. By the time people like, em em thingamabob â&#x20AC;Ś em em kabaâ&#x20AC;Ś, appear on the streets, you will forget these your smooth theories. I think we should ask the royal father to invoke the power of the gods as well as the churches to declare fasting and prayer for a peaceful poll. Now you are talking.

T H I S D AY Ëž Í˛Ë&#x153; 2020

BUSINESS/MONEYGUIDE

PwC Offers Recipe to Unlock $900bn Dead Capital Dike Onwuamaeze The PwC Nigeria has advised federal and state governments to evolve policies that would unlock $900 billion worth of dead capital tied unproductively in residential real estate and agricultural land. This, they stressed would support wealth creation and accelerate economic growth in this dire and austere period. PwC Nigeria gave the recommendation during a webinar titled, â&#x20AC;&#x153;Assessment of Government Economic Interventions and the Way Forward,â&#x20AC;? which it jointly with the Lagos Chamber of Commerce (LCCI). The Advisory Partner and Chief Economist, PwC West Africa, Dr. Andrew S. Nevin, urged the governments to also, â&#x20AC;&#x153;restructure

its fiscal plan especially spending on non-essential projects and carefully manage the risk of debt trap that could result from increasing debt accumulation.â&#x20AC;? Nevin said government should, â&#x20AC;&#x153;put in place framework that ensures transparency and accountability across ministry, departments and agencies and aggressively promote peace and tranquility across the country in order to attract patient capital.â&#x20AC;? â&#x20AC;&#x153;Incidences of insecurity and insurgence are drawbacks to the implementation of intervention measures while consistent decline in Nigeriaâ&#x20AC;&#x2122;s corruption perception index from 28 in 2016 to 26 in 2019 is also a major concern to foreign investors,â&#x20AC;? he said. He noted that, â&#x20AC;&#x153;rising debt accumulation and cost of debt

services to revenue ratio at 99 per cent does not bode well for fiscal consolidation.â&#x20AC;? Speaking during the conference, the Fiscal Policy Partner and West Africa Tax Leader at PwC, Mr. Taiwo Oyodele, noted that challenges facing businesses in the country today are multi-dimensional ranging from liquidity and availability of cash to pay bills to safety of personnel and infrastructure to work from home. Oyedele, said government should remove subsidies, rationalise waivers, leverage on digitalisation and technology adoption and aim at expanding the tax base in a manner that would exempt the poor and ensure that â&#x20AC;&#x153;everyone else pay according to their ability.â&#x20AC;?

Buhari, Akufo-Addo, Others for CIBN Conference Nume Ekeghe President Muhammadu Buhari and his Ghanaian counterpart, President Nana Akufo-Addo and an array of other dignitaries are expected to attend the Chartered Institute of Bankers of Nigeria (CIBN) annual conference. The event which is in collaboration with Central Bank of Nigeria (CBN), would be the 13th Annual Bankers Conference and is billed to hold simultaneously in Abuja, Lagos and virtually on September 15 and 16, 2020. The conference with the theme: â&#x20AC;&#x153;Facilitating a Sustainable Future: The Role of Banking and Finance,â&#x20AC;? will bring together prominent bankers; major economic players; captains of industries; regulators; policy makers; members of the academic community and other

stakeholders in the banking and finance industry. Addressing a media conference in Lagos on Wednesday, the President and Chairman of Council of the CIBN, Mr. Bayo Olugbemi, said the institute for the first time would adopt a hybrid approach to the conference which will take place simultaneously, at the Transcorp Hilton Hotel, Abuja and the Bankersâ&#x20AC;&#x2122; House, Adeola Hopewell Street, Lagos and through Zoom teleconferencing. He said: â&#x20AC;&#x153;In line with the theme, participants will evaluate the role of the banking and finance industry in engendering an inclusive sustainable growth as well as offering a direction on how to reposition the industry for relevance in the new world order, by leveraging on digitalisation to boost Nigeriaâ&#x20AC;&#x2122;s economy.â&#x20AC;?

Also speaking at the event, the Chairman of the Consultative Committee for organising the conference and MD/CEO Ecobank, Mr. Patrick Akinwutan said: â&#x20AC;&#x153;The annual forum will be used to brainstorm on strategic issues that are critical to building a sound and sustainable financial ecosystem and economy, with resolutions made available to all the relevant stakeholders and policy makers to enable them re-appraise and align their operations and strategies in line with global best practice.â&#x20AC;? The conference is expected to have 2,500 participants across the globe, with the Governor of CBN, Mr. Godwin Emefiele, as chief host and President, CIBN, Mr. Bayo Olugbemi as host.

BoI Wins Awards The Bank of Industry (BoI) has been recognised as the SME bank of the year in Africa and also for raising the deal of the year through its â&#x201A;Ź1 billion syndicated loan facility from the international capital market. The Bank was given the award at the African Bankersâ&#x20AC;&#x2122; awards ceremony, which was held virtually on the sidelines of the African Development Bank Annual Meeting. The award event featured financial institutions and projects from all 54 countries in Africa, as well as the international community. The awards committee said the â&#x20AC;&#x2DC;SME Bank of the Yearâ&#x20AC;&#x2122; award was for an, â&#x20AC;&#x153;institution that has

considerably catalysed funding to the private sector in Africa and promoted enterprise development by facilitating credit and funding for SMEs and providing technical assistance; and supporting institutions for growth of SMEs.â&#x20AC;? â&#x20AC;&#x153;They have done this by expanding SME credit and growing SME support with linkage programmes.â&#x20AC;? Receiving the award virtually in his office, the bankâ&#x20AC;&#x2122;s Managing Director and CEO, Mr. Kayode Pitan, was quoted in a statement to have thanked the Award Committee for the recognition and thanked President Muhammadu Buhari for providing the vision the bank is currently running with.

He said, â&#x20AC;&#x153;The award is very important to us because it means we are working in line with the President of Nigeriaâ&#x20AC;&#x2122;s plan to have at least 10 million people employed and also support the SMEs to make that possible. â&#x20AC;&#x153;So, once again we want to thank Mr. President and also thank the state governors who are partnering with us to make this possible. â&#x20AC;&#x153;We also want to thank commercial banks for supporting their customers to access the facilities we provide. â&#x20AC;&#x153;Through our various programmes, we were able to support over 14,000 youths in 2019; and this year, we are working harder to improve on that achievement.â&#x20AC;?

Abubakre Conferred with UK Senior Fellowship Following a rigorous review of Dr. Alim Abubakreâ&#x20AC;&#x2122;s record of accomplishment and contribution to advancing Executive Development in the UK, Africa and North America, he has been conferred the UKâ&#x20AC;&#x2122;s prestigious Senior Fellowship of the Advance Higher Education Academy (HEA), the UKâ&#x20AC;&#x2122;s Gold standard in pedagogy. The senior HEA fellowship is a UK national recognition for leadership, excellence, expertise and commitment to professionalism in teaching and learning.

Abubakre has been able to present a thorough understanding of practical approaches to pedagogy leadership and has been a critical contributor to high-quality executive learning. Commenting on the achievement, Caroline Lucas of TEXEM, UK, explained that, â&#x20AC;&#x153;Alim Abubakre was conferred with this highly sought-after professional recognition upon review of his impact by an independent panel set up by the UKâ&#x20AC;&#x2122;s Advance Higher Education and confirmation that he has successful engagement

across all five areas of pedagogy activity - appropriate knowledge and understanding across all aspects of core knowledge of education.â&#x20AC;? She listed others to include commitment to all the professional values; successful engagement in appropriate teaching practices related to the areas of activity; successful incorporation of subject and pedagogic research and scholarship within the above activities, as part of an integrated approach to academic practice.

Buhari

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

Ëž Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

Money Market Indicators (in Percentage) Month Inter-Bank Call Rate

March 2018 15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ÍŻÍąĎą

OPEC DAILY BASKET PRICE Ë&#x153; Í° Í°ÍŽÍ°ÍŽ

Vienna, Austria, 3 September 2020--The price of OPEC basket of thirteen crudes stood at $45.03 a barrel on Wednesday, compared with $45.30 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY Ëž Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

Presco Shareholders Approve N2bn Dividend, Commend Performance Goddy Egene Shareholders of Presco Plc have approved the N2 billion dividend recommended by the board for the year ended December. The dividend, which translated to 200 kobo per share, was endorsed at the companyâ&#x20AC;&#x2122;s 27th annual general meeting (AGM) held in Edo State. The shareholders commended the board and management of

the company for the impressive financial performance and recommendation of the dividend. Speaking on behalf of shareholders, Goodluck Akpore, noted efforts by the board and management of Presco Plc to boost the companyâ&#x20AC;&#x2122;s operations, saying they were particularly impressed with the resolve to pay dividend and sustain growth agenda. In his address to shareholders, Chairman of the company, Pierre Vandebeeck, explained

P R I C E S MAIN BOARD

F O R DEALS

that COVID-19 virus has had significant impact on global economies around the world and is having accounting implications for many entities. The chairman, who was represented by a director of the company, Osa Osunde said disclosed that within the year under review, the construction of a new 350 tons per day palm kernel crushing plant was completed and the construction of a new 30 tons palm kernel boiler.

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Meanwhile, the chairman said work on the new 500 tons per day vegetable oil refinery has been completed with its commissioning scheduled for this year. â&#x20AC;&#x153;Our company is not difference, which is why we have put in place protective measures in keeping with World Health Organisation (WHO) guidelines to minimize the risk to our workforce and ensure minimum disruptions to operations,â&#x20AC;? he said. According to him, following

T R A D E D MAIN BOARD

A S

the moves initiated by the federal government to check and fight illegal importation and malpractices, the fourth quarter of 2019 witnessed a gradual recovery of average unit selling prices of crude and refined products from the hitherto downward pressure. The chairman disclosed that within the year under review, Presco Plc attained N19.72billion revenue and profit after tax of N3.8 billion.

O F

â&#x20AC;&#x153;Volume wise, 47,253 tons of crude and refined products were sold. In the year under review, we achieved a milestone of crossing the 200,000 tons mark for fresh fruit bunches harvested with a harvest of 200,097 tons compared with 191,627 tons recorded in 2018. Crude Palm Oil (CPO) produced was 43,757 tons , Refined, Bleached and Deodorised Oil (RBDO) produced was 20,594 tons olein and stearin produced was 7,967 tons,â&#x20AC;? he said.

0 1 / 0 9 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ FRIDAY, SEPTEMBER 4, 2020

Friday, September 4, 2020

THISDAY AFRINVEST 40 INDEX Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Thisday Afrinvest 40 Index Gains 31bps The Thisday Afrinvest 40 Index gained 31bps in yesterday͛s trading session to advance to 1,128.57 points due to buying interest in MTNN (+0.5%), GUARANTY (+0.2%) and ZENITH ;нϭ͘ϱйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϰϴ͘Ϯй ŽĨ ƚŚĞ index.

Ticker

Current Price

THISDAY AFRINVEST 40

FCMB (+4.8%) drove the benchmark index up 20bps to ƐĞƩůĞ Ăƚ Ϯϱ͕ϱϭϭ͘ϬϮ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ ŝŶǀĞƐƚŽƌƐ ŐĂŝŶĞĚ േϮϲ͘ϲďŶ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĂĚǀĂŶĐĞĚ ƚŽ േϭϯ͘ϯƚŶ ǁŚŝůĞ YTD loss moderated to -ϱ͘Ϭй͘ ĐƟǀŝƚǇ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůͲ ume and value traded rose by 28.2% and 17.3% to 232.4m ƵŶŝƚƐ ĂŶĚ േϭ͘ϯďŶ ƌĞƐƉĞĐƟǀĞůǇ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀŽůͲ ƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϳϬ͘ϲŵ ƵŶŝƚƐͿ͕ ZENITH (25.5m units) and > ^ K ;ϭϳ͘ϭŵ ƵŶŝƚƐͿ ǁŚŝůĞ ZENITH ;േϰϯϱ͘ϮŵͿ͕ MTNN ;േϭϴϵ͘ϮŵͿ ĂŶĚ GUARANTY ;േϭϲϲ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘

-23.1%

12.9%

17.0%

3.7%

3.8x

0.5x

7.1%

17.7%

13.0%

8.8%

163.8%

12.2%

12.2x

17.3x

5.9%

8.2%

2 Airtel Africa PLC

380.00

0.0%

18.9%

27.1%

9.4%

3.1%

3 Guaranty Trust Bank PLC

25.70

0.2%

10.0%

-13.5%

-12.0%

29.4%

4.7%

3.8x

1.1x

10.9%

26.5%

4 Zenith Bank PLC

17.20

1.5%

6.3%

-7.5%

-8.0%

24.5%

3.2%

2.4x

0.6x

16.5%

41.4% 4.4%

0.0%

4.2%

-20.1%

106.4%

23.1%

22.6x

29.4x

6.0%

134.00

0.0%

4.4%

-5.6%

26.9%

12.0%

11.0x

3.1x

11.9%

9.1%

6.40

0.0%

2.9%

-36.0%

-36.6%

16.1%

1.4%

2.2x

0.4x

10.2%

44.7%

8 United Bank for Africa PLC

6.50

0.8%

2.7%

-9.1%

-9.7%

15.6%

1.5%

2.6x

0.4x

15.3%

38.9%

9 FBN Holdings Plc

5.05

0.0%

2.3%

-17.9%

-22.3%

14.2%

1.4%

2.4x

0.3x

7.5%

41.1%

10 Nigerian Brew eries PLC

40.00

0.0%

2.0%

-32.2%

7.8%

3.3%

38.1x

1.8x

5.0%

2.6%

11 Lafarge Africa PLC

12.00

0.0%

2.3%

-21.6%

-13.0%

44.7%

24.1%

8.4x

0.5x

8.3%

11.9%

385.00

0.0%

1.5%

-41.5%

-35.0%

2.5%

1.5%

18.4x

0.3x

9.7%

5.4%

13 Stanbic IBTC Holdings PLC

12 SEPLAT Petroleum Development C

37.50

0.0%

2.0%

-8.5%

-6.3%

25.9%

3.7%

4.8x

1.3x

8.0%

20.7%

14 Flour Mills of Nigeria PLC

0.5x

7.4%

19.00

0.0%

1.0%

-3.6%

15 International Brew eries PLC

3.65

0.0%

0.4%

-61.6%

-30.1%

-8.6%

16 Ecobank Transnational Inc

4.15

0.0%

0.6%

-36.2%

-36.6%

11.0%

0.7%

1.6x

0.2x

17 Fidelity Bank PLC

1.80

-0.6%

0.7%

-12.2%

-10.9%

12.4%

1.3%

1.9x

0.2x

11.1%

52.7% 10.4%

18 11 PLC

ƌĞƐƉĞĐƟǀĞůǇ >/E< ^^hZ

ŽŶ

ƚŚĞ

(+7.7%),

ďĂĐŬ ZENITH

ŽĨ

ŐĂŝŶƐ (+1.5%)

and GUARANTY (+0.2%). Similarly, the AFR-/ d ĂŶĚ ŽŶƐƵŵͲ

0.6x

-74.1% 60.8%

192.50

0.0%

0.9%

30.2%

18.7%

8.5%

9.6x

1.6x

4.3%

19 Okomu Oil Palm PLC

79.00

0.0%

0.9%

42.1%

23.5%

15.8%

10.8x

2.4x

2.5%

9.3%

20 Dangote Sugar Refinery PLC

12.50

0.0%

0.5%

-8.1%

-10.7%

21.2%

11.5%

6.6x

1.2x

8.8%

15.3%

0.4x

1.7%

21 Transnational Corp of Nigeria

0.58

-1.7%

0.3%

-41.4%

-45.8%

22 Unilever Nigeria PLC

15.00

0.0%

0.4%

-31.8%

-27.5%

-11.5%

-7.2%

1.3x

23 Guinness Nigeria PLC

14.00

0.0%

0.2%

-53.4%

-15.5%

-8.3%

0.4x

10.9%

-41.0% 45.5%

-9.6%

24 FCMB Group Plc

2.20

4.8%

0.5%

18.9%

20.9%

9.8%

1.1%

2.2x

0.2x

6.4%

25 Sterling Bank PLC

1.19

-4.8%

0.2%

-40.2%

-37.4%

8.7%

0.8%

3.3x

0.3x

2.5%

30.1%

26 UAC of Nigeria PLC

6.20

4.2%

0.2%

-27.9%

-30.3%

-11.2%

-5.5%

2.5x

0.4x

1.7%

39.9% 21.9%

31 Oando PLC

4.80

0.0%

0.2%

-20.0%

13.9%

4.9%

4.6x

0.6x

9.4%

49.00

0.0%

0.3%

3.2%

17.6%

7.6%

9.4x

1.5x

4.1%

10.7%

5.10

0.0%

0.2%

-15.0%

-15.7%

7.7%

1.0%

6.4x

0.6x

5.0%

15.7%

8.2%

80.00

0.0%

0.1%

-27.9%

5.7%

1.1%

18.3x

1.1x

2.30

0.0%

0.1%

-42.4%

14.5%

2.6%

1.0x

0.1x

5.5% 101.0%

32 NASCON Allied Industries PLC

10.05

0.0%

0.1%

-22.4%

16.7%

5.2%

7.0x

2.1x

4.0%

33 Julius Berger Nigeria PLC

17.00

0.0%

0.2%

2.5%

10.8%

1.2%

6.7x

0.7x

9.9%

14.8%

0.53

1.9%

-28.4%

-22.1%

8.3%

0.6%

2.8x

0.4x

7.5%

35.8%

12.60

0.0%

0.1% 0.1%

-30.0%

-3.0%

-1.0%

34 Wema Bank PLC

ϰϲďƉƐ

3.1%

1,175.00

30 Total Nigeria PLC

ƐƵƌĂŶĐĞ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ƉŽƐŝƟǀĞ͕ ƵƉ ϱϬďƉƐ ĂŶĚ

Divindend Earnings Yield Yield

31.9%

29 Union Bank of Nigeria PLC

der our coverage recorded gains ǁŚŝůĞ Ϯ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ /ŶͲ

P/BV

0.5%

28 Presco PLC

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ŝŵƉƌĞƐƐŝǀĞ as 4 ŝŶĚŝĐĞƐ ƵŶͲ

P/E

0.31%

27 Custodian and Allied Insurance

ƵůůŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

ROA

118.60

7 Access Bank PLC

formance as gains in MTNN (+0.5%), ZENITH (+1.5%) and

ROE

1,128.57

5 Nestle Nigeria PLC

dŚĞ ĚŽŵĞƐƟĐ ŵĂƌŬĞƚ ƐƵƐƚĂŝŶĞĚ ƉƌĞǀŝŽƵƐ ĚĂǇΖƐ ƉŽƐŝƟǀĞ ƉĞƌͲ

Price Change Index to Date

1 MTN Nigeria Communications PLC

6 Dangote Cement PLC

ƋƵŝƟĞƐ DĂƌŬĞƚ ĚŐĞƐ ,ŝŐŚĞƌ͘͘͘ ^/ hƉ ϮϬďƉƐ

Price Previous Current Change Price Weightin YTD g Change

35 Ardova PLC 36 Continental Reinsurance PLC

-30.4%

0.0%

14.4%

1.0x

-3.3%

-100.0%

37 Beta Glass PLC

55.40

0.0%

0.1%

3.0%

13.5%

9.1%

38 Notore Chemical Industries Ltd

62.50

0.0%

0.1%

0.0%

-13.1%

-3.6%

39 AXA Mansard Insurance PLC

1.67

0.0%

0.1%

-15.7%

17.6%

5.0%

40 Transcorp Hotels Plc

4.00

0.0%

-18.4%

-6.4%

-3.2%

6.1x

3.7x

0.8x

0.0x

16.5%

1.6x

-6.7%

0.6x

27.0%

0.6x

0.0x

-11.7%

er Goods indices ƚƌĂŝůĞĚ͕ ĂƉƉƌĞĐŝĂƟŶŐ ϯϬďƉƐ ĂŶĚ ϮďƉƐ ƌĞͲ T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s

ƐƉĞĐƟǀĞůǇ͕ ĚƵĞ ƚŽ ďƵǇ ŝŶƚĞƌĞƐƚ ŝŶ MTNN (+0.5%) and s/d &K D (+5.1%). Lastly, the Oil & Gas and Industrial

T ic k er

Vo lum e

P ric e C hg %

'ŽŽĚƐ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŇĂƚ͘

UA C -P R OP

0.91

8.3%

T R A N SC OR P

70.6

-1.7%

LIN KA SSUR E

0.42

7.7%

Z EN IT H B A N K

25.5

1.5%

R OYA LEX

0.33

6.5%

LA SA C O

17.1

-3.8%

WA P IC

0.35

6.1%

A C C ESS

14.8

0.0%

5.78

5.1%

UB A

13.2

0.8%

NP FM CRFB K

1.27

5.0%

FCM B

10.7

4.8%

M B EN EF IT

0.22

4.8%

FB NH

9.8

0.0%

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĂŶĞƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ĂĚǀĂŶĐĞĚ ƚŽ ϯ͘Ϭǆ ĨƌŽŵ ƚŚĞ ϭ͘ϴǆ ƌĞĐͲ ŽƌĚĞĚ ƉƌĞǀŝŽƵƐůǇ ĂƐ ϭϵ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ ƚŚĞ ϲ ƚŚĂƚ ĚĞͲ

P ric e

VIT A F OA M

P ric e C hg %

T ic k er

FCM B

2.20

4.8%

UA C N

9.5

4.2%

UA C N

6.20

4.2%

A IIC O

7.5

-5.3%

NA HCO

2.10

4.0%

GUA R A N T Y

6.5

0.2%

ĐůŝŶĞĚ͘ dŚĞ ƚŽƉ ŐĂŝŶĞƌƐ ǁĞƌĞ UAC-WZKW (+8.3%), LIN-

T o p 10 L o s e r s

T o p 10 T r a d e s b y V a l u e

< ^^hZ (+7.7%) and ZKz > y ;нϲ͘ϱйͿ ǁŚŝůĞ NEIMETH (T ic k er

ϲ͘ϱйͿ͕ // K (-5.3%) and ^d Z>/E' (-4.8%) lost the most. We ĞǆƉĞĐƚ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ƚŽ ĐůŽƐĞ ƚŚĞ ǁĞĞŬ ŽŶ Ă ďƵůůŝƐŚ ŶŽƚĞ͘

P ric e

P ric e C hg %

T ic k er

Value

N EIM ET H

1.87

-6.5%

Z EN IT H B A N K

435.2

1.5%

A IIC O

0.90

-5.3%

M TNN

189.2

0.5%

ST ER LN B A N K

Afrinvest West Africa Limited

P ric e C hg %

1.19

-4.8%

GUA R A N T Y

166.8

0.2%

LA SA C O

0.25

-3.8%

A C C ESS

94.7

0.0%

T R A N SC OR P

0.58

-1.7%

UB A

86.0

0.8%

F ID ELIT YB K

1.80

-0.6%

UA C N

57.3

4.2%

FB NH

49.4

0.0%

T R A N SC OR P

40.1

-1.7%

FCM B

23.5

4.8%

WA P C O

19.2

0.0%

Brokerage

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com

Florence Warikam | fwarikam@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

FRIDAY, SEPTEMBER 4, 2020 ˾ T H I S D AY

MARKET NEWS

African Alliance Insurance Appoints Adekola acting MD/CEO Goddy Egene The Board of Directors of African Alliance

Insurance Plc has appointed Mrs. Olabisi Adekola as the acting managing director/CEO of the company effective

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

September 1, 2020. Her appointment followed the exit of Mrs. Funmilayo Omo effective August 31, 2020.

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 02Sep-2020, unless otherwise stated.

In a notification to the Nigerian Stock Exchange (NSE), African Alliance Plc said Omo was appointed in March

2017. She then led to the company’s first corporate rebranding exercise in over five decades of its existence and

successfully cemented its position as a top player in the Nigerian insurance industry before her exit.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.92 0.93 2.36% ACAP Income Funds 0.78 0.78 10.28% 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 5.78% AIICO Balanced Fund 3.00 3.08 22.16% 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 2.97% Anchoria Equity Fund 99.95 100.29 -1.98% Anchoria Fixed Income Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 97.42 98.11 1.40% AXA Mansard Money Market Fund 1.00 1.00 4.72% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.13 2.13 15.90% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 1.85 1.88 5.72% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 5.04% Paramount Equity Fund 11.44 11.65 -8.59% Women's Investment Fund 110.89 111.95 0.47% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 4.64% Cordros Milestone Fund 2023 105.43 105.77 Cordros Milestone Fund 2028 109.50 109.80 Cordros Dollar Fund ($) 103.39 103.39 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 3.36% Coronation Balanced Fund 0.95 0.96 2.16% Coronation Fixed Income Fund 1.55 1.55 16.62% 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 4.25% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 4.46% EDC Nigeria Fixed Income Fund 1,170.76 1,182.70 5.56% 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 1,389.11 1,390.69 13.87% FBN Balanced Fund 152.43 153.46 3.82% FBN Halal Fund 107.38 107.39 7.38% FBN Money Market Fund 100.00 100.00 4.43% FBN Nigeria Eurobond (USD) Fund - Retail 121.26 121.66 4.38% FBN Nigeria Smart Beta Equity Fund 115.86 117.67 -10.97% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 3.40% Legacy Debt Fund 3.82 3.82 4.41% Legacy Equity Fund 1.14 1.16 0.95% Legacy USD Bond Fund 1.12 1.12 3.41% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,161.83 3,197.02 3.98% Coral Income Fund 3,190.08 3,190.08 3.72% FSDH Treasury Bills Fund 100.00 100.00 4.06% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 3.93% Vantage Balanced Fund 2.32 2.36 5.88% Vantage Guaranteed Income Fund 1.00 1.00 8.63% Kedari Investment Fund (KIF) 150.46 151.20 4.97% 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 1.25 1.27 7.08% Lotus Halal Fixed Income Fund 1,133.32 1,133.32 7.04% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.39 1.42 13.92% PACAM Fixed Income Fund 11.87 11.94 5.46% PACAM Money Market Fund 10.00 10.00 3.85% PACAM Equity Fund 1.09 1.11 PACAM EuroBond Fund 107.92 110.49 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 114.73 117.07 -5.32% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 6.62% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,521.35 2,532.80 5.66% Stanbic IBTC Bond Fund 210.33 210.33 4.87% Stanbic IBTC Ethical Fund 0.88 0.89 -0.56% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 5.66% Stanbic IBTC Iman Fund 154.92 156.64 4.09% Stanbic IBTC Money Market Fund 100.00 100.00 4.12% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 -3.02% Stanbic IBTC Dollar Fund (USD) 1.20 1.20 3.70% Stanbic IBTC Shariah Fixed Income Fund 100.93 100.93 -3.15% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.16 1.18 -3.26% United Capital Bond Fund 1.85 1.85 6.84% United Capital Equity Fund 0.66 0.68 -5.88% United Capital Money Market Fund 1.00 1.00 4.73% United Capital Eurobond Fund 114.42 114.42 4.70% United Capital Wealth for Women Fund 1.02 1.03 -2.32% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.20 10.31 -0.83% Zenith Ethical Fund 11.62 11.69 -0.16% Zenith Income Fund 24.54 24.54 10.22% Zenith Money Market Fund 1.00 1.00 3.71%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

117.93

5.15%

53.40

2.59%

Bid Price

Offer Price

Yield / T-Rtn

9.07 89.08 67.78

9.17 89.08 68.99

4.21% -6.70% -9.81%

Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

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

NAV Per Share

Yield / T-Rtn

108.03

15.02%

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.

FRIDAY SEPTEMBER 4, 2020 ˾ T H I S D AY

INTERNATIONAL

African Countries Sign up for COVID-19 Vaccine Initiative While the race to find safe and effective COVID-19 vaccines continues, African countries are signing up to a ground-breaking initiative, which aims to secure at least 220 million doses of the vaccine for the continent, once licensed and approved. All 54 countries on the continent have expressed interest in COVAX, a global initiative which is co-led by the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi, the Vaccine Alliance (Gavi) and the World Health Organisation (WHO). The partners are working with governments and manufacturers to procure enough vaccine doses to protect the most vulnerable populations on the continent.

Through the Gavi-coordinated COVAX Facility, the initiative seeks to ensure access for all: both higher and middle-income countries which will self-finance their own participation, and lower-middle income and lowincome countries which will have their participation supported by the COVAX Advance Market Commitment (AMC). There are eight countries in Africa that have agreed to self-finance their vaccine doses through the COVAX Facility. This expression of interest will turn into binding commitments to join the initiative by 18 September, with upfront payments to follow no later than October 9, 2020. “Equatorial Guinea has

signed up to COVAX as it’s the most effective way to ensure that our people can access COVID-19 vaccines,” said Hon Mitoha Ondo’O Ayekaba, Vice Minister for Health and Social Welfare, Equatorial Guinea. “We are concerned as some wealthier countries have made moves to secure their own interests. We

believe that through this initiative we can access successfully tested vaccines in a timely manner and at lower cost.” In addition, 46 countries in Africa are eligible for support from the financing instrument, the COVAX AMC which has raised approximately US$ 700 million against an initial target

of securing US$ 2 billion seed funding from high-income donor countries, as well as private sector and philanthropists by the end of 2020. “COVAX is a ground-breaking global initiative which will include African countries and ensure they are not left at the back of the queue for COVID-19

vaccines,” said Dr Matshidiso Moeti, WHO Regional Director for Africa. “By reaching beyond the continent to work together with other governments and manufacturers on a global scale and pooling buying power, countries can protect the people most vulnerable to the disease in Africa.”

Malaysia Bans Arrivals from Countries with over 150,000 COVID-19 Cases Malaysia said on Thursday that it would deny entry to people from countries that had reported more than 150,000 cases of coronavirus global pandemic. Malysia’s Defence Minister Ismail Sabri Yaakob said this at a news conference on Thursday. “We will add more countries deemed high-risk. Their citizens will be barred,” the minister said. The ban will cover countries such as the U.S. and Malaysia’s former coloniser Britain and will come into effect on Monday. According to official statistics collated by Johns Hopkins University, 23 countries have recorded more than 150,000 cases of the virus. Some above the threshold, such as Germany and Italy, recorded the bulk of their cases several months ago, while many smaller countries with lower cumulative case numbers have higher incidences of active or new cases per capita.

The revised ban comes after long-term or work visa holders from India, Indonesia, and the Philippines were told last week that they would be denied entry. In place since the government imposed a nationwide lockdown on March 18, a ban on all tourist arrivals has been extended until the end of the year. The lockdown was lifted on May 4 after Malaysia’s economy went into meltdown, with second-quarter gross domestic product shrinking by over 17 per cent, according to official data released in mid-August. Tourism is worth 10 to 15 per cent of GDP, while 3 to 5 million foreigners work in Malaysia, including hundreds of thousands of Indians, Indonesians. and Filipinos. Malaysia’s Ministry of Health has reported 128 coronavirusrelated deaths. Almost 9,100 of the officially-confirmed 9,374 cases are listed as recovered.

Mali: Military Head Visits Ousted President Keita in Hospital The head of Mali’s new junta on Thursday visited the man he ousted, Ibrahim Boubacar Keita, at a hospital where the former president is being treated for a mini-stroke, family and medical sources said. “A delegation from the ruling military, led by Colonel Assimi Goita, visited (the) former president in the clinic,” a doctor told AFP, speaking on condition of anonymity. Relatives of Keita confirmed the visit. Keita, 75, was admitted to a private health facility in the capital Bamako on Tuesday after suffering a so-called transient ischaemic attack, a doctor said on Wednesday. This occurs when the blood supply to the brain is disrupted for a few minutes, causing stroke-like symptoms such as numbness on one side of the body, vision difficulties or confusion in understanding speech. These events typically last only a few minutes, but are viewed seriously by doctors as they can be a precursor for

a full-fledged stroke. Another doctor said on Thursday that Keita “is doing well.” “He spent a second night here, more for the peacefulness of the surroundings than anything else,” the source said. The president was forced out on August 18 by young military officers who mutinied at a base near Bamako before heading into the city, where they seized Keita and other leaders. Pressured by the West African bloc ECOWAS, the junta released Keita on August 27 and returned him to his residence in Bamako, where according to his entourage he is under surveillance, with limited access to a phone and the internet. The junta has said that Keita is authorised to leave the country for medical care if need be. Keita was ousted after two years of his second five-year term. In the weeks before the coup, he had been struggling with protests fuelled by his handling of a jihadist insurgency and failure to turn around Mali’s floundering economy.

Director General, Nigerian Maritime Administration and Safety Agency, Dr. Bashir Jamoh (left), and Consul General, Embassy of the Republic of Korea in Nigeria, Kim In-Taek, in an elbow bump, at a meeting in Lagos...yesterday

Trump Asks US States to Distribute COVID-19 Vaccine By Nov 1 The Trump administration has urged US states to get ready to distribute a potential Covid-19 vaccine by November 1 — two days before the presidential election. Dallas-based wholesaler McKesson Corp. has a deal with the federal government and will be requesting permits to set up distribution centers when a vaccine becomes available. “The normal time required to obtain these permits presents a significant barrier to the success of this urgent public health

program,” Robert Redfield, director of the Centers for Disease Control and Prevention, told states in an August 27 letter. “CDC urgently requests your assistance in expediting applications for these distribution facilities.” Redfield asked states to consider waiving requirements that would “prevent these facilities from becoming fully operational by November 1, 2020.” The CDC provided states with documents giving details of a vaccine rollout plan, adding that

they would either be approved as licensed vaccines or under emergency use authorization. Recipients would probably require a second “booster” dose, a few weeks after the first, according to the documents. “Vaccine and ancillary supplies will be procured and distributed by the federal government at no cost to enrolled Covid-19 vaccination providers,” say the documents, which also went to New York City, Chicago, Houston, Philadelphia and San Antonio. – Serious side effects –

Priority will be given to essential workers, national security officials, seniors and members of vulnerable racial and ethnic groups, according to The New York Times. Three Western drug makers are progressing with their Phase 3 clinical trials, involving tens of thousands of participants. The three are AstraZeneca, which is partnering with Oxford University in England; Moderna, collaborating with the US National Institutes of Health; and the Pfizer/BioNTech alliance.

UK Opens Portal for Chevening Funded Scholarships Applications for Chevening Scholarships to study in the UK are open, The Nation learnt. The applications which opened on Thursday according to the UK High Commission, Abuja will close on 3 November 2020. Chevening Scholarships are awarded to individuals who can demonstrate that they have the commitment and skills required to create positive change, and can show how a UK master’s degree will help them do that. The scholarship offers full financial support for future

leaders to study for any eligible master’s degree at any UK university whilst also gaining access to a wide range of exclusive academic, professional, and cultural experiences. The programme which was created in 1983 has provided 50,000 professionals with the opportunity to develop in the UK through Chevening. There are more than 1,500 scholarships on offer globally for the 2021/2022 academic year, demonstrating the UK’s ongoing commitment towards developing

the leaders of tomorrow. Speaking on the Head of Scholarships at the UK Foreign, Commonwealth and Development Office (FCDO), Naomi Rayner, said: “This year more than ever, we have seen how global challenges demand innovation, strong leadership and international collaboration. Chevening seeks to build an international community of people who are committed to those values and driving positive change. We do this by bringing together incredible people from

around the world and supporting them, through education, to achieve their goals. ‘In the UK we are proud of our world-class universities and we know that our learning environments are enriched by the wide diversity of cultures, experiences and viewpoints represented on our campuses. Chevening scholars make a significant contribution to these communities, as well as becoming an important part of our network of over 50,000 alumni.

US Demands Due Process for Detained Hotel Rwanda Hero America’s top diplomat for Africa has urged a fair trial for “Hotel Rwanda” hero Paul Rusesabagina, as concern mounts over the mysterious circumstances of his arrest and return to his home country. Rusesabagina, who saved more than 1,200 Rwandans during the 1994 genocide by sheltering them in a hotel, appeared in handcuffs in Kigali this week accused of serious charges including terrorism after a quarter century in exile abroad. It remains unclear how the strident opponent of long-ruling President Paul Kagame, who

had been living in the US and Belgium since leaving Rwanda in 1996, was extradited to his homeland. Tibor Nagy, US assistant secretary for African Affairs, said he met Wednesday with Rwandan ambassador Mathilde Mukantabana to discuss the circumstances around Rusesabagina’s arrest. “The United States expects the Rwandan government to provide humane treatment, adhere to the rule of law, and provide a fair and transparent legal process for Mr. Rusesabagina,” Nagy said in a statement.

Rwandan investigators say Rusesabagina, who was played by US actor Don Cheadle in the 2004 Oscar-nominated film “Hotel Rwanda”, was arrested “through international cooperation” but have refused to elaborate. Rusesabagina’s family have said they cannot understand why their father, a high-profile regime target, would return by his own free will to Rwanda where almost certain prosecution would await. “We believe he was kidnapped and taken by extraordinary rendition to Rwanda,” a

spokesman for the family said in a statement Wednesday. He “is being held by President Paul Kagame’s government on false charges”, added the statement shared by the Hotel Rwanda Rusesabagina Foundation, a charity in his name. Rusesabagina was hailed a hero over his actions during the genocide that killed some 800,000 Rwandans and he was awarded, among other global accolades, a US Presidential Medal of Freedom in 2005 by then president George W Bush.

˾ FRIDAY, SEPTEMBER 4, 2020

WORLD OF ISLAM

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Umar Ibn al-Khattab: A World Leader – 1 Nadia M. Khan/IslamiCity

Throughout all of Islamic history, there are two figures who are hailed as the first and second most important persons in Islam. One is, of course, Muhammad (peace be upon him), the last messenger and recipient of the Quran; the other is virtually unknown to the western world despite his vast and lasting influence on the middle east and the millions of people who have lived there and who live there today. This man has been written about, analyzed, reviled, praised, overlooked, and misunderstood even by his own people. Umar Ibn al-Khattab (may God be pleased with him), the second of the Rightly Guided Caliphs of Islam, made an inconceivably large contribution not only to the geographic spread of Islam, but to the establishment of religious justice and intellectual freedom as well. His reach extended as far as Persia, Egypt, and Anatolia, and he defeated towering empires such as the Sassanids and the Byzantines. Such a rapid expansion of the Islamic world would merit acclaim in itself, but Umar (RA) did not stop there; his purpose was not to conquer lands in the name of Islam, he sincerely wanted to establish peace and justice in accordance with God’s way. Thus, he began what would be known as the Islamic judicial system, improved the economic system, developed a calendar, and united the Muslims. He is also accredited with having compiled the Quran, but this is not probable. Considering the vastness and permanence of these accomplishments, it is no wonder that he is ranked above such figures as Julius Caesar and Charlemagne. Umar (RA) began his life as a member of the Quraish tribe of Makkah. Little is known about his childhood, but as a young man he served as ambassador to various tribes and is said to have great belief in tribal solidarity. His reputation included two very strong characteristics: oratory and physical. No one could match his concise, rhythmic, eloquent speech. Umar (RA) was also a wrestler, competing in matches as a hobby and winning almost all of them. Before his conversion, Umar (RA) is reported as having 4 or 5 wives, some of whom he divorced later because they chose not to convert to Islam. In all, he had 9 sons and 4 daughters, one being Hafsah. She was widowed and left destitute, and despite Umar’s (RA) pleas to his friends to marry his daughter, no one was willing, so the prophet asked for her hand in marriage. When Islam came to the Arabian Peninsula, there were few converts at first. Many people resisted the message, and Umar (RA) was a most bitter opponent. He was charged with the duty of assassinating Muhammad (PBUH), but converted instead. Umar (RA) then became one of the staunchest allies of Islam, and Muhammad (PBUH) came to call him “Farooq,” which means distinguisher between truth and falsehood. When the prophet died in 632, a potential power struggle was avoided when Umar (RA) supported the candidacy of Abu Bakr (may Allah be pleased with him), a close friend and companion of both Muhammad and Umar. However, Abu Bakr (RA) lived only two years more, and as he lay dying he appointed Umar (RA) as the next caliph. A council of companions confirmed the appointment, and Umar (RA) began his remarkable reign. The first of Umar’s (RA) great successes is rapid geographical expansion. Entry into Syria and Iraq began under Abu Bakr (RA), but it is Umar (RA) who solidified a Muslim presence in these two countries. Khalid Ibn al-Walid, the general in charge, reached the Euphrates and was welcomed by the Christian Arabs who lived there. He made a treaty with the people whereby no Jews or Christians would be persecuted, freedom of religion would be ensured, and protection of all people guaranteed. Khalid also entered Syria and took Damascus in 635. The Syrians gladly received the Muslims as well because they had ethnic and lingual ties - both were Arabs, and spoke Semitic languages. Also, the Syrians were fed up with Byzantine oppression and outrageous taxes. Heraclius, however, regrouped and the battle that was to be fought next would cause Syria to slip through the fingers of the Byzantine Empire. The battle of Yarmuk (636), in which the Muslim army was less than half the size of the Byzantine’s, brought the whole of Syria under Muslim leadership. It is said that Heraclius deeply regretted the loss because the country was so desirable. In any case, Umar (RA) made a treaty with the people that included freedom of worship, protection, and lesser taxes to which the people readily agreed. Syria served as a springboard into Armenia, which came under Muslim influence around 643, and advances

into Anatolia began in 641. In 638 Umar’s (RA) forces liberated Jerusalem, and in 641 Caesarea fell. As he entered the holy city, the native people were aghast to see that the leader - the effective “emperor” of the Muslims - was riding a camel and wearing tattered clothes. This marks the establishment of a Muslim Jerusalem that would last until the crusades about 500 years later. Even today, while Jerusalem is controlled by the Israelis, there is much Muslim influence throughout the city. The Palestinians lament their incredible loss. The Persian operation, by far the most successful and decisive, was led by Sa’d bin abi Waqqas. In 637, Umar’s (RA) forces met those of Emperor Yazdagird in Qadisiyah, otherwise known as “the gateway of Persia.” The Sassanid commanding general, Rustam, led an army 6 times the number of Muslims, and despite this enormous advantage, all of Iraq west of the Tigris river was claimed by the Arabs. This miraculous feat was nothing, however, compared to the capture of Ctesiphon, the Emperor’s capital itself. It was dubbed a rival to Constantinople - a grand likeliness indeed. Although they had lost a great deal, the Persians did not feel the full effects, because the swollen river created a natural defense against further invasion and protected them. However, even this seemingly natural assumption was shaken by the Arabs; they crossed and reached the city of Nihavand. In what was to be known as “the victory of victories,” in 642 the fate of the Sassanid Empire was sealed: the Arabs were to bring down the age-old Persian dynasty. Emperor Yazdagird fled to Khurasan and, oddly enough, was killed by a local Persian in 651. The Egyptian campaign was led by Amr Ibn al-As, and it was carried out under conditions similar to the other campaigns. The Monophysitic Egyptians felt alienated from the Byzantines, who spoke a different language, believed in a different form of Christianity, and thought they were superior. The Byzantine governor, Cyrus, made all attempts to convert the Copts, and applied the usual exorbitant taxes. The Muslims thus entered the country to the relief of the Egyptians, and a victory in Babylon allowed them entrance into Alexandria in 642. Cyrus was actually in favor of surrendering; however, Heraclius refused to allow him to sign a peace treaty with Amr. Only after the emperor’s death was peace finally established in Egypt. The new Muslim inhabitants kept basically the same Byzantine administration for a while, and did not oust the Coptic officials from their posts. A lighter tax on Christians and Jews was imposed, and no forcible conversion took place. The reason these expansions are so amazing is not just because of their far reach, but also because of their permanence. Even today Syria, Iraq, and Egypt are thoroughly Arabized Muslim countries. The majority of the population is Muslim, and virtually all inhabitants, Muslim or non-Muslim, speak Arabic as their primary language. Persia, although it reverted back to Sassanid culture and language, is still a Muslim country as well. Islam and the Arabic language have lived for more than 1,400 years in the Middle East, with no sign of weakening or instability, and for this Umar Ibn al-Khattab should be given credit. In addition to the above accomplishments, Umar (RA) also kept the Muslim community united. All of his generals listened to and supported him, and corruption among the ranks was nonexistent. Umar (RA) had an overall knowledge of everything that was going on, and he integrated this knowledge wisely and for the benefit of all people. For example, he kept the native administrations of the countries that the Muslims entered and just appointed governors; this limited tension and discord. In general, there was overwhelming support of his leadership, and this kept the community unified. This unity strengthened his administration, and avoided the internal bickering and crippling non-action that exists among today’s Muslim community. Concerning economic matters, the land of the occupied countries was left in the hands of the owners, and a light property tax (kharaj) was imposed along with the “people of the book” tax (jizya). The revenue from these taxes and rent etc. went to the bayt al-mal, or government treasury. Thus, a solid fiscal system was established. Diwans, or registers were set up, the first being a diwan of pensions for the family of Muhammad (PBUH) and the men who fought in battles, much resembling welfare. Umar (RA) was very strict concerning money matters, and did not appreciate useless spending. This helped him build a strong economy. To Be Continued

FRIDAYSEPTEMBER 4, 2020 ˾ T H I S D AY

NEWS

Bandits Ambush Vigilantes, Kill 17 in Niger Laleye Dipo in Minna No fewer than 17 members of the local security outfit in Dukku town of Rijau Local Government Area of Niger State were on Wednesday ambushed and killed by bandits. The vigilantes however killed three of the attackers.

THISDAY gathered that the Dukku community, worried by the frequent attacks by bandits, had mobilised to take the battle to the bandits who were said to be based in the Iri forests in the area. According to eye witnesses, the plan to attack the bandits leaked, resulting in the bandits ambushing the men of the

Nigeria’s COVID-19 Cases Rise By 125 to 54,588 Martins Ifijeh Nigeria has recorded 125 new cases of COVID-19, bringing to 54,588 the number of confirmed cases in the country. Announcing this yesterday, the Nigeria Centre for Disease Control (NCDC) said Lagos recorded 42 new cases; Federal Capital Territory (FCT), 25;

vigilante in the forest, killing 17 of them while the vigilantes reportedly killed three bandits. When contacted by THISDAY, the Chairman of Rijau LGA, Alhaji Bawa Bello, confirmed the incident. Bello said: “Yes, it happened; we killed some of the bandits and the bandits killed some of our men “I have submitted a written report to the Commissioner for Local Government who is our boss. He should give you the details,” Bello said.

The commissioner for local government, Sarkindaji could not be reached to give details of the attack The Police have not reacted to the incident. Meanwhile the latest report on Wednesday nights attack on Kagara town has revealed that five people, including a woman and a policeman were killed, with 12 others kidnapped by armed men who raided the town. The Chairman of the local government council, Alhaji

Ismaila Modibo when contacted gave the update, saying no fewer than eight people were injured in the attack. Modibo however said that the bandits were not successful in their attempt to steal money from a first generation bank in the town. “The bank robbery was not successful,” Modibo said. Meanwhile, the Niger State Deputy Governor, Alhaji Ahmed Mohammed Ketso, accompanied by the state

Commissioner of Police Alhaji Adamu Usman carried out an on-the-spot visit to the troubled town yesterday. Governor Abubakar Sani Bello has in the meantime appealed to the people of the state “to remain calm as government is on top of the security situation in the state.” Bello however appealed to the people to always avail the security agencies with information that will lead to the arrest of criminal elements in the society.

Katsina, 14; Kaduna, 11; Kwara, eight; Ondo, seven; Delta, four; Anambra and Oyo, three each; Edo, Ogun, and Osun, two; while Cross River recorded one case. It said: “Nigeria has so far recorded 54,588 confirmed cases of COVID-19. 42,627 patients have been discharged, while 1,048 persons have died.”

Judge Withdraws from Suit Seeking Ize- Iyamu’s Disqualification Alex Enumah in Abuja A suit seeking the disqualification of the governorship candidate of the All Progressives Congress (APC) in Edo State, Pastor Osagie IzeIyamu and his running mate, Mr. Audu Ganiyu, from the forthcoming election in the state, yesterday suffered a major setback following the withdrawal of trial judge, Justice Taiwo Taiwo from the matter. Justice Taiwo’s withdrawal was predicated on a petition against him by the APC, wherein he was accused of bias and fraternising with Rivers State Governor, Mr. Nyesom Wike, who is the Chairman of the Peoples Democratic Party (PDP) Campaign Council in the September 19 governorship election in Edo State. Two chieftains of the APC, Momoh Abdul-Razak and Zibiri Muhizu had dragged Ize-Iyamu and Ganiyu to court over alleged perjury. Defendants in the suit marked: FHC/ABJ/ CS/758/2020, include the APC, Independent National Electoral Commission (INEC), Ganiyu and Ize-Iyamu as 1st, 2nd, 3rd and 4th defendants, respectively.

The plaintiffs are asking the court to disqualify the deputy governorship candidate, Ganiyu from participating in the forthcoming election on account of giving false information to the INEC in aid of his qualification for the governorship poll slated for next month. However, hearing in the matter was last month stalled following a petition against the judge by the APC. The party in the petition had prayed the judge to suspend further hearing in the matter, pending the directive of the Chief Judge of the Federal High Court. Justice Taiwo had on August 24 declined to grant the prayer and rather adjourned till September 4, for hearing of all pending motions. However, when the matter came up yesterday, Justice Taiwo in a short ruling recused himself from the matter on account of the petition against him, adding that he has to protect his integrity and that of the court. “As judges and lawyers in the temple of justice, it is our duty to protect the integrity of the court and that of the judiciary.

Magu: Salami Panel Gets Six-week Extension Kingsley Nwezeh in Abuja There are indications that the presidential panel investigating the suspended Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, was granted a six-week extension by the presidency. PR News reported that the Chairman of the panel, Justice Ayo Salami applied to the presidency to grant him approval to travel to the United Kingdom to interview a former Minister of Petroleum Resources, Mrs. Diezani Alison Madueke. But in a chat with THISDAY, Counsel to Magu, Mr Wahab

Shittu, said Magu’s legal team was not in the picture of the development. “We are not aware of that. We don’t know of any extension. They do not communicate with us”, he said. The report said Salami applied to travel to the United Kingdom to “investigate” the case of a former Minister of Petroluem Resources, Diezani Alison-Madueke, who was accused of financial misappropriation. The report said a former Chairman of the Pension Task Force, Mr. Abdulrasheed Maina, was also allegedly encouraged to submit a petition and testify against Magu.

SEEKING THE PEOPLE’S MANDATE...

L-R: Former National Chairman of All Progressives Congress (APC), Comrade Adams Oshiomhole; Edo State APC Women Leader, Mrs. Betty Okyebor; wife of the APC governorship candidate in Edo State, Professor Idia Ize-Iyamu; APC governorship candidate, Pastor Osagie Ize-Iyamu; and the state Chairman of APC, Col. David Imuse (rtd), during the party’s campaign at Eguare Ekpoma in Edo State...yesterday

Darul Salam Terror Group Defeated, Says DHQ Kingsley Nwezeh in Abuja The Defence Headquarters (DHQ) declared yesterday that the Darul Salam terror group that operated in Nasarawa and Kogi states has been defeated. It said a total of 700 women and children have so far been rescued after it launched an operation against the group even as male members of the group were on the run. DHQ also said the operation followed an intelligence alert issued by the United States African Command (AFRICOM) to the effect that al-Qeida and other affiliate groups were gaining foothold in West Africa.

At a media briefing in Abuja yesterday, the Directorate of Defence Media Operations (DDMO) said most fighters of the group were killed, while others escaped with gunshot wounds after a fierce encounter with the military. Coordinator of DDMO, Major General John Enenche, said following kinetic operations launched by the military, most members of the group were killed, while the surviving members of the group abandoned their wives and children, describing it as an indication of defeat. Reviewing military operations across the country, Enenche said

290 more women and children were rescued after the initial 410 that surrendered to the military after the destruction of their camps in Korton Karfe in Kogi State and other parts of Nasarawa State. “The natural question would be: Where are the male members of the group? Many of them were neutralized; some of them escaped with gunshot wound, some ran away”, he said. He said troops of Operation Whirl Stroke carried out aggressive, intensive kinetic operations at identified bandits’ enclaves at Uttu in Toto Local Government Area of Nasarawa State.

“The successful operation resulted in the neutralisation of several bandits; not less than 410 members of the Darul Salam terrorist group surrendered to the gallant troops and other security agencies deployed. “This was followed by a robust clearance patrol around the same area, which resulted in a raid on a Darul Salam terrorists’ bomb-making factory. In the course of the operation, troops recovered several Improvised Explosive Device making materials, 6 rocket launcher bombs, 10 locally made hand grenades and one Rocket Propelled Grenade bomb fuse,” he said.

Lagos APC Affirms Abiru, Obafemi as Candidates for October By-elections Segun James The immediate past Managing Director of Polaris Bank Limited, Mr. Tokunbo Abiru, and Mr. Obafemi Saheed have, respectively, emerged as the candidates of the All Progressives Congress (APC) for the Lagos-East senatorial district and Kosofe 2 House of

Assembly by-elections slated for October. At the primary election held yesterday, which was by affirmation, the Chief Returning Officer, Mr. Ibrahim Masari, announced that Abiru recorded a total vote of 111,551 votes from the votes returned from the five local government areas comprising Lagos-East

viz Epe, Ibeju-Lekki, Ikorodu, Kosofe and Somolu, covering 71 wards. The spokesperson for the state APC, Seye Oladejo, in a statement said Saheed scored a total of 34,012 from the six wards in Kosofe Constituency 2. He said, “With the emergence of our candidates,

all is now set for the APC to contest and retain the respective legislative seats.” The senatorial seat became vacant following Senator Bayo Osinowo’s death on June 15, 2020, while the demise of Hon. Tunde Braimoh on July 10, 2020 created a vacuum in Kosofe Constituency 2 at the state House of Assembly.

Police Kill 15 Bandits, Arrest 140 Suspected Rapists in Katsina Francis Sardauna in Katsina The Katsina State Police Command has eliminated 15 bandits and arrested 50 other criminals, including kidnappers and cattle rustlers in the state. The state Commissioner of Police, Sanusi Buba, who disclosed this yesterday while parading some suspects, said the command has also recovered 220

rustled cattle from the hoodlums and rescued 20 kidnapped victims. He explained that the command also recovered 10 AK-47 rifles, 20 locally made guns, 20 motorcycles and a huge amount of money from both the killed suspects and those paraded in the ongoing onslaughts against the miscreants in the state.

The commissioner added that the command also apprehended 140 suspected rapists in 87 reported cases and were charged to court for prosecution after preliminary investigation. He said: “Recently, the command have arrested over 50 suspected bandits, kidnappers, cattle rustlers and arm robbers. We recovered 10 AK47 riffles, 20 locally-made guns, 20

motorcycles and 220 rustled cattle. “The command also killed 15 bandits and rescued 20 kidnapped victims in the ongoing war against all forms of crime in the state. “On the fight against the menace of rape bedeviling the state, a total of 140 suspected rapists were arrested in 87 reported cases, and all were charged to court for prosecution.”

FRIDAY SEPTEMBER 4, 2020 ˾ T H I S D AY

NEWS XTRA

NNPC Receives $1bn to Fund NPDC’s Upstream Operations Peter Uzoho The Nigerian National Petroleum Corporation (NNPC) has obtained a prepayment funding of about $1billion to support the upstream operations of its subsidiary, Nigerian Petroleum Development Company (NPDC). The crude oil prepayment has enabled NNPC to pay NPDC’s Tax obligations to the federal government of about $700 million with the balance utilised to fund NPDC’s capital and operating expenditures. The prepayment financing is backed by future oil production of NPDC, and utilises a wellestablished structure to enable the purchaser of the crude, Eagle Export Funding Limited, to raise financing in the domestic and

international markets, to fund an upfront payment to NNPC under a Forward Sale Agreement (FSA). The financing, which funded the prepayment has been structured over two tranches: Five-year USD amortising tranche (Tranche 1) and a sevenyear NGN amortising tranche (Tranche 2). Both tranches benefit from a cash sweep with the seven-year tranche having a one-year non-call period. NNPC in a statement issued last night, and signed by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, said these tranches would be repaid by Eagle Export Funding Limited from the export sale proceeds

Lagos, Ogun Seek to Take over Collapsed Lagos-Abeokuta Road Omololu Ogunmade in Abuja The governor of Ogun State, Prince Dapo Abiodun and his Lagos State counterpart, Mr. Babajide Sanwo-Olu, have asked the federal government to transfer the dilapidated Lagos-Abeokuta road to the two states for reconstruction. Speaking with journalists after a meeting with President Muhammadu Buhari in the State House, Abiodun said he met with the president to submit a letter seeking for a transfer of this federal road, which he said is in a deplorable state, to both states. According to him, if the request is granted, both Lagos and Ogun states will commercialise the road and take the burden of reconstruction off the federal government. “I also shared with him the pains on the Lagos-Ota-Abeokuta road as well. I came with a letter that I have written earlier on and pictures, to show him the deplorable state of this road. ‘’The Lagos-Ota-Abeokuta road is probably the second busiest road in this country. This road is in such a deplorable condition and we understand that the federal government cannot afford to build all the roads at the same time, but as a state government, Lagos

State government and I have written to Mr. President, asking Mr. President to transfer that road to us. “It’s a commercial road and we’ll commercialise it so that we can take that burden off the federal government,” he said. Abiodun also said the road connecting the Lagos port to Agbara, which he described as the biggest industrial centre in the country, is an eyesore. According to him, the road has completely collapsed to the extent that trucks conveying raw materials and finished goods between Agbara and the port often get involved in accident because of its deplorable state. He said the situation had become so frustrating to multinational companies operating in the hub to the extent that they had threatened to leave the country. He said it was against this background that he came to put the president on notice about the decision of his administration to take up the responsibility of reconstructing this federal road. According to him, he wanted the president to inform the Ministry of Works and Housing about the development so that money expended on the reconstruction could be refunded to Ogun State later.

IG Approves Enrollment of Retired Police Officers on NHIS

Kingsley Nwezeh in Abuja

Following the approval of the federal government for the enrolment of retired police officers on the National Health Insurance Scheme (NHIS), the Inspector-General of Police, Mr. Mohammed Adamu, yesterday directed the nationwide registration and capturing of all retired police officers with effect from September 7, to September 23, 2020. The police said in a statement that with the development, all retired police officers, irrespective of their

rank on retirement, along with a spouse, would have full access to all NHIS services and benefits covered by the Police Health Maintenance Organisation (Police-HMO) Code-073. It said the exercise, expected to be in three phases would take place at the various police area commands in the country. The statement issued by Force PRO and Deputy Commissioner of Police (DCP), Frank Mba, said all retired police officers were required to visit any police area command closest to them.

of the NPDC crude, which in turn are backed by Letters of Credit, issued by banks with a minimum credit rating, in line with market precedent. The export price for the crude is the relevant NNPC Official Selling

Price (OSP) for the corresponding calendar month and crude grade. Vitol and Matrix Energy have executed the standard NNPC Crude Oil Sale and Purchase Agreement. It said the participants in the

Eagle Export Funding Limited deal include Standard Chartered Bank, United Bank for Africa, Afrexim Bank, Union Bank and two oil trading companies, Vitol and Matrix Energy. Despite the constrained

liquidity situation in the financing markets due to the COVID-19 pandemic; the pricing and terms obtained for the USD and NGN funding tranches were very competitive and better than precedent transactions.

FEAR OF PANDEMIC...

Governor of Oyo State, Mr. Seyi Makinde (left), and the Chairman of Oyo State Independent Electoral Commission (OYSIEC), Mr Isiaka Olagunju, during the inauguration of the members of the commission by the governor in Ibadan... yesterday

Blasphemy: Kano Musician Appeals Death Sentence Singer was denied access to lawyer, says NBA A 22-year-old Musician, Yahaya Shariff-Aminu, who was sentenced to death for blaspheming Prophet Mohammed, has filed a notice of appeal before a Kano State High Court, describing Sharia law as practised in the state as unconstitutional and undemocratic. This is coming as the Nigerian Bar Association (NBA) has said

the musician has been denied access to a lawyer. Shariff-Aminu was sentenced to death by an Upper Sharia Court on August 10, 2020, but was given 30 days to file an appeal. Governor Abdullahi Ganduje had also expressed readiness to sign the convict’s death warrant once the 30 days lapses. In the notice of appeal marked

CR/43/2020, and filed by his lawyer, Kola Alapinni, the convict sued the Attorney-General of the state and the Kano State Governor. He based his appeal on one ground which is that Sharia law which formed the basis of his conviction was illegal and unconstitutional. It read in part, “The appellant’s trial, conviction, and sentencing

by the Upper Sharia Court of Kano State pursuant to the Kano State Penal Code Law 2000 were unconstitutional, null, void having grossly violated and conflicted with the Constitution of the Federal Republic of Nigeria (1999) as amended and having violated the African Charter on Human and Peoples’ Rights and the Universal Declaration of Human Rights respectively.”

Bars, Night Clubs, Others Remain Closed, Says Lagos The Lagos State Government has clarified that it has not lifted the restrictions on opening of bars, restaurants, night clubs, lounges and cinemas, despite relaxation of the curfew to four hours - 12.00a.m to 4.00a.m, by the Presidential Task Force on COVID-19. The state government said in a statement that “all owners

of hospitality establishments are warned to restrict their operations to 50 per cent of their occupancy rate as directed by Mr. Governor, in addition to observing the guidelines on physical distancing, use of face masks, temperature checks and washing of hands with soap and running water or using of hand sanitisers”.

The state Commissioner for Information and Strategy, Mr. Gbenga Omotoso, who issued the statement, said “events centre operators are also to ensure that participants at any event in their premises do not exceed 50 per cent capacity of the design of their halls while strict compliance with the two-metre spacing between seats must be strictly enforced.

“The monitoring and compliance teams from the Lagos State Special Task Force will step-up enforcement to ensure that entertainment and event centres do not violate COVID-19 regulations. “Non-compliance with the guidelines on COVID-19 will attract maximum sanctions in accordance with the law,” Omotoso explained.

Osinbajo Applauds Supreme Court over Ruling Endorsing Virtual Proceedings Vice President Yemi Osinbajo has said that the endorsement of virtual court proceedings by a Supreme Court ruling was a wise decision.Osinbajo made this submission yesterday at a webinar on media coverage of virtual court proceedings in Nigeria organised by the

Gavel International Limited. The vice president said that the ruling had saved Nigeria’s system of justice the challenge of technical decisions around the constitutionality of virtual proceedings among other issues. “We are at a point where

at least we know that virtual hearings are legal. “This means that the Supreme Court is satisfied that appropriate means can be found to ensure that hearings are public and that the press and indeed members of the public can access the

proceedings. “I think that an opportunity that this offers us is to get rid of this issue of technicality as much as possible; and I am so pleased that the Supreme Court did not even hesitate in saying that virtual proceedings are legal.

Obiano: Anambra Airport will Open in April 2021 David-Chyddy Eleke in Awka Anambra State Governor, Chief Willie Obiano, has disclosed that the state international cargo airport located at Umueri will be inaugurated in April 2021. Obiano stated this yesterday while performing the official groundbreaking ceremony of the Anambra Luxury Place Estate,

a public, private partnership (PPP) project between the state government and Rotech Energy Services Limited in Nkwelle, near Onitsha. “The Anambra State international cargo airport will be inaugurated in April next year. It will be one of the best in the country,” Obiano said, as he encouraged the people

to invest in the luxury estate, saying the Nkwelle GRA project is just a 10 minutes’ drive from the airport. “The airport is just a 10 minutes’ drive from here (Nkwelle), and a few kilometres to Onitsha town. It is strategically located and is a worthwhile investment,” he added.

He praised the promoter of the project, Chief Austin Oguejiofor, who is the Chairman/Chief Executive of Rotech Energy Services Limited, for heeding to his government’s ‘Aku Luo Uno’ call, urging Anambra people, who have created wealth outside the state, to also consider investing in Anambra State.

FRIDAY SEPTEMBER 4, 2020 ˾ T H I S D AY

NEWS XTRA

Folawiyo, Aig-Imoukhuede Join Nigeria Solidarity Support Fund Statutory Board The Chairman of Global Citizen Nigeria, Mr. Tijani Babatunde Folawiyo, and the vice chairman, Mr. Aigboje Aig-Imoukhuede, have joined the Nigeria Solidarity Support Fund Statutory Board (NSSF). NSSF, a partnership between Global Citizen (GC) and the Nigeria Sovereign Investment Authority (NSIA), was set up to provide support to the federal government in the fight against the COVID-19 pandemic. Following the first confirmed case of the virus on February 27, 2020, the federal government has initiated measures to control the outbreak but with the country’s overwhelmed health care systems

and a burgeoning population, it was apparent that more support was needed, hence the formation of NSSF. Folawiyo is the Chairman/ Chief Executive Officer of the Yinka Folawiyo Group, a conglomerate with interests in energy, agriculture, shipping and real estate. The oil exploration firm, Yinka Folawiyo Petroleum, owns a 60 per cent participating interest in the Aje Oil and gas field on Oil Mining Lease (OML) 113 offshore Lagos. This is the first producing field outside of the Niger-Delta in Nigeria. He founded Folawiyo Energy

Atiku, NACCIMA, Others Knock FG over Petrol Price Increase Chuks Okocha, Udora Orizu in Abuja, Dike Onwuamaeze in Lagos, Michael Olugbode in Maiduguri and Victor Ogunje in Ado Ekiti

Former Vice President Atiku Abubakar; the Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA); Ekiti State chapter of the Peoples Democratic Party (PDP); ActionAid Nigeria; and the Coalition of United Political Parties (CUPP), have kicked against the recent increase in the pump price of petrol by the federal government. Reacting to the petrol price hike, NACCIMA declared that the decision of the federal government to commence the implementation of the increase in the price of petrol and the introduction of cost reflective tariffs for pricing the cost of electricity simultaneously to raise public revenue would increase “the severity and duration of the looming economic recession.” A statement issued yesterday by the Director General of NACCIMA, Ambassador Ayo Olukanni, stated that “it is the position of the NACCIMA that the decision of the federal government to increase the

price of petrol through the product price adjustment by the Pipelines and Product Marketing Company (PPMC) and to commence the implementation of Cost Reflective Tariffs for pricing the cost of electricity as well as numerous policies implemented across the federal and state levels of governments to bolster revenues, will serve only to increase the severity and duration of the looming economic recession. “We reiterate our counsel that government at all levels should resist the urge to tax or place an economic burden on the citizenry but adopt policies that will stimulate economic activities by creating a regulatory environment that encourages citizens to take up productive activities in larger numbers.” Olukanni said that it is with some trepidation that NACCIMA has noted that the “implementation of two policy decisions in the space of a week will negatively impact the consumption and productive capacity of Nigerians amidst the prospect of the worst economic recession in 40years as stated in the World Bank Report, ‘Nigeria in Times of COVID-19: Laying Foundations for a Strong Recovery.’”

Limited, a subsidiary of the Yinka Folawiyo Group in partnership with Glencore Energy, which has successfully run a world-class petroleum storage facility with a capacity to store 66,000 MT of petroleum products. He is Chairman of YFPower Limited, ENYO Retail & Supply Limited, a fuels retailing and renewable energy products company. ENYO operates over 85 fuel retail stations across 18 states in Nigeria. He served as a Non-Executive Director of MTN Nigeria, for 18 years from 2001-2019. Folawiyo was a Non-Executive Director of Ecobank Mali for five years from 2000 to 2005 and Access Bank Plc where he retired meritoriously after his

statutory 12-year term. In April 2019, he became Chairman of Global Citizen Nigeria, an international movement dedicated to eliminating extreme poverty in the world. He is also the Chairman of Coronation Merchant Bank Limited, Temple Management Company, T1 Marine Services Limited, and Pave Investments Limited. He continues to serve as Director of La Vallee Energy Services Limited. In addition, he serves as Non-Executive Director of Inaugure Hospitality Group based in Abidjan. On his part, Aig-Imoukhuede is a highly respected investor,

banker and philanthropist with a track record of major accomplishments in for profit and non-profit endeavors within and beyond Nigeria. He oversees an ecosystem of investments encompassing banking and finance, insurance, technology, industrial and oil and gas sectors. His career in banking and finance spans three decades and has earned him national as well as international recognition including; Commander of the Order of the Niger (CON), conferred by the Federal Republic of Nigeria, for his contributions to the development of banking and finance; Ernst Young Entrepreneur of the Year (West Africa); and African Banker

Magazine’s “African Banker of the Year”. He was the Group Managing Director and Chief Executive Officer of Access Bank Plc from 2002, overseeing its transformation into one of the top five banks in Nigeria with a presence in the United Kingdom and nine African countries. Under his stewardship, Access Bank was able to grow its customer base from 10,000 (2002) to circa 6.5 million (2013) with 20,000 employees and an asset base of $12 billion. He is a past President of The Nigerian Stock Exchange, founding Chairman of the FMDQ OTC Exchange, and Chairman of the Board of Trustees of the Financial Market Dealers Association.

2021 BUDGET ON THEIR MINDS...

L-R: Majority Leader of Kwara State House of Assembly, Hon. Mogaji Abubakar; Speaker of Kwara State House of Assembly, Hon. Yakubu Salihu Danlandi; Governor Abdulrahman Abdulrazaq; and the Commissioner for Finance and Planning, Hon. Oyeyemi Olasumbo Florence; during a town hall meeting on 2021 budget at Bode Saadu in Kwara North senatorial district of Kwara State...yesterday

Senate May Hold Emergency Session over Petrol Price Hike Deji Elumoye in Abuja The Senate may cut short its annual vacation to hold an emergency session to discuss the last Wednesday’s hike in pump price of petrol from N145.00 to N151.60 per litre by the federal government, THISDAY has learnt. This is just as a ranking Senator, Obinna Ogba, emphasised that the recent

increase in both fuel price and electricity tariff showed the level of insensitivity of the federal government to the people’s feelings. It was gathered yesterday that many senators had approached the leadership of the upper chamber of the National Assembly on the need for the Senate to take a decision on the fuel price hike. A senator confirmed to

THISDAY on the condition of anonymity that representations had been made to the President of the Senate, Dr. Ahmad Lawan, on the need to hold an emergency session to discuss the latest developments in the country, especially the hike in both the fuel price and electricity tariff. The ranking senator said: “Yes, it’s true that we have approached the leadership of the Senate about the possibility of

holding an emergency session to look into the issues of fuel price hike and increase in electricity tariff from N22.00 to N66.00 per kilowatt. “We are doing this based on reports from our constituents, who believe that the time is not ripe for such increase, especially during the COVID-19 pandemic period, and as their senators, we need to heed to their cries and act accordingly.”

in Bayelsa State have petitioned the National Caretaker Committee Chairman of the Party, Governor Mai Mala Buni, against the Minister of State for Petroleum, Mr. Timipre Sylva, imposition of candidates on the party without due consultations with stakeholders.

Hon. Dressman, Mr. Frank Oputu, (Bayelsa Central), Hon. Peter Ozobo, Mr. Ebide Brown and Mr. Moses Hitler from Bayelsa West. The aggrieved members called on Buni to stop Sylva and his acolytes from imposing candidates on the party in order

Electoral Commission (INEC), has scheduled the by-elections for October 3 to fill the vacant Bayelsa West and Bayelsa Central Senatorial seats. The vacant seats were vacated by the Governor of Bayelsa State, Senator Douye Diri and his deputy, Senator

alleged that Sylva, who is neither from Bayelsa Central nor West, was working to impose candidates who recently defected to the APC from the PDP and have not even spent the requisite number of days that would have qualified them for nomination for elective positions.

El-Rufai Inaugurates APC Members in Bayelsa Petition Buni against Sylva ‘House of Kaduna Family’ Onungwe Obe in Yenagoa The APC’s leaders who belong to avert what they described an Lawrence Ewhrudjakpo after they to the APC Constitutional and impending disaster in the October were inaugurated on February 14t this year. Some members of the All Due Process Vanguard in Bayelsa 31 by-elections. to Promote Peace The Independent National The aggrieved party leaders Progressives Congress (APC) State include Hon. Godwin Sidi,

John Shiklam in Kaduna

The Kaduna State Governor, Mallam Nasir El-Rufai, has inaugurated the ‘House of Kaduna Family’, a body made up selected Muslim and Christian leaders in the state as part of efforts towards promoting peace in the state. The state has been bedeviled by crisis, especially in Southern Kaduna, where there had been massive killings and destruction of properties in the area. Speaking yesterday in Kaduna while inaugurating the 22-member body comprising some prominent Christian and Muslim leaders, El-Rufai said the decision to convened a platform for leaders of faith was aimed at promoting dialogue, interaction,

and for the religious leaders to assume collective responsibility for messages that assist people of faith to live up to the highest ideals of the two main religions as peaceful and law-abiding citizens. “It is our view that the diversity of faith can be a vehicle for unity when adherents respect the right of every human being to life, liberty and livelihood as creatures of God,” the governor said. He noted that “religious fervour is a common trait among Nigerians, yet, the legacy of communal and ethno-religious conflict in our state betrays the absence not only of respect for the rule of law but also any adherence to the common values of our two dominant religions, which are peace, compassion and fairness to others.”

Nasarawa to Audit Accounts of 13 LGAs Igbawase Ukumba in Laﬁa The Nasarawa State Government has announced that it would carry out forensic audit and verification across the 13 Local Government Areas in the state to fish out ghost workers and roll back the tide of corruption in its local government administration. The State Commissioner for Local

Government, Rural Development and Chieftaincy Affairs, Mr. Yusuf Sarki, disclosed this in an interaction with journalists yesterday in Lafia. Sarki said the forensic audit became necessary in view of recent inability of the councils to pay their staff salary as well as pensioners. He said: “Group of persons are planning to short change the government and pensioners by

replacing the dead and retired officers with different people without the approval of the authority in charge of the councils.” He explained that the state government was not responsible for the non-payment of local government staff, noting that the state government had often time augmented the councils’ allocation. The commissioner added that

the ministry, as a supervising ministry, was not responsible for any deduction from the local governments’ fund. He said: “Because this data capture screening will not solve the problem, pensioners are dying while others are maneuvering their way to replace them thereby making the wage bill to rise. Insincerity of the people is responsible for this problem.”

FRIDAY SEPTEMBER 4, 2020 ˾ T H I S D AY

NEWSEXTRA

Labour to Protest in Rivers over Alleged Anti-labour Practices Onyebuchi Ezigbo in Abuja The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have stated that they would march the streets of Rivers State’s capital, Port Harcourt, on Monday, September 8, to protest alleged anti labour policies of the state government.

The labour unions said that the Nigerian workers would be joined by their civil society’s allies on the proposed peaceful protest meant to draw the attention of the world to the infractions on workers’ and trade union’s rights in Rivers State. The President of the NLC, Comrade Ayuba Wabba, and his

Colleges of Education Staff Union Begins Strike over N441bn Funding Shortfall Onyebuchi Ezigbo in Abuja Colleges of Education Academic Staff Union (COEASU) has ordered its members to immediately withdraw their services. The union claimed that federal government has failed to provide the outstanding N441 billion resulting from the received needs assessment of the federal colleges of education. It stated that with what is happening in the education sector, where all the unions are embarking on strike over poor funding and neglect, the federal government has disappointed Nigerians. Addressing a press conference yesterday in Abuja, COEASU President, Nuhu Ogirima, said after series of efforts through several correspondences to get the federal government to attend to the demands of the federal colleges of education in the country failed to yield results, the union was left with no other

CHANGE OF NAME I, formerly known and addressed as ANDREW ABUKUM ROMA , now wish to be known and addressed as HYELLA ABUKUM ANDREW. All documents bearing my previous name remain valid. The general public please take note. I formerly known and addressed as QUADRI OMONIYI ABDULLAHI, now wish to be known and addressed as QUADRI OMONIYI JOHN. All former documents remain valid. The general public should please take note. I, formerly known and address as MS. BLESSING ALUEDE now wish to be known and addressed as MRS. BLESSING OKWORISE. All former documents remain valid. LAPO Micro Finance Bank, Crusader Sterling Pensions Limited and the general publicshould please take note. I, formerly known and addressed as MISS ARIKAWE OLADUNNI OLAYEMI, now wish to be known and addressed as MRS ADETOLA OLADUNNI OLAYEMI. All documents bearing my previous name remain valid. The general public please take note. I,formerly known and addressed as OBIANUJU NWANNEAMAKA IKWUEMESI now wish to be known and addressed as OBIANUJU NWANNEAMAKA PATRICK-NRI. All former documents remain valid. The general public should please take note.

CONFIRMATION OF NAME I, ODEBIYI AYOKU, refers to one and the same person as ODEBIYI AYO HABEEB. All former documents bearing both names remain the same, the general public should please take note.

option than to commence a series of actions which will lead to full blown nationwide strike as soon as school reopens. He said the National Executive Committee of the union would be meeting to approve further actions to compel the government to respond to their demands, which he said included poor funding and neglect of infrastructures of the institutions. Speaking on the inadequate funding of federal colleges of education in the country, Ogirima said the totality of allocation to colleges of education relatively to other sister institutions was appalling, especially from 2006 to 2008. “While the relative huge allocation to the university sub-sector in the period can be understood for obvious reasons of their enormous responsibilities and quite divergent services, that of the polytechnics, with similar conditions of service and related infrastructure with colleges of education, remains higher till date,” he said.

CHANGE OF NAME I, formerly known and addressed as MISS ACHA FAITH, now wish to be known and addressed as MRS KIOGWU FAITH. All documents bearing my previous name remain valid. The general public please take note. I, formerly known and addressed as OYEFUSI MODINAT KEHINDE, now wish to be known and addressed as ATANDA MODINAT KEHINDE. All documents bearing my previous name remain valid. The general public please take note. I, formerly known and addressed as MISS KONYEHI EBERE AGATHA, now wish to be known and addressed as MRS ELUE EBERE AGATHA. All documents bearing my previous name remain valid. The general public please take note. I,formerly known and addressed as MISS ONWUGBUZIE BLESSING ANITA now wish to be known and addressed as MRS EKPENISI BLESSING ANITA. All former documents remain valid. The general public should please take note. I, formerly known and addressed as MISS KONYEHI EBERE AGATHA, now wish to be known and addressed as MRS ELUE EBERE AGATHA. All documents bearing my previous name remain valid. The general public please take note. I,formerly known and addressed as MERCY OZIOHU ALIM-BELLO now wish to be known and addressed as MERCY OZIOHU ORITSEMONE. All former documents remain valid. The general public should please take note.

TUC counterpart, Comrade Quadri Olaleye, alleged during a joint press conference yesterday that the Rivers State government had unleashed several anti labour actions on its workers. Wabba, who read the position of the two labour unions, alleged that some of the infractions committed by the state government included act of lawlessness by sealing off the NLC’s secretariat in Rivers State council, witch-hunting, persecution and prosecution of trade union leaders

on trumped up charges. Others allegation the unions brought against the state government included anti-labour actions such as non-payment of gratuity and pensions to pensioners and nonpayment of workers’ promotion arrears since 2015. He also claimed that the Rivers State government has failed to clear the arrears of pension and gratuity indebtedness in the state. “This wicked act has become the living nightmare of senior

citizens who are being punished for serving the state government. These pensioners are dying in droves as a result of neglect,” he alleged. The NLC’s president said that the state government has owed some workers in the state up to 7-month salaries. He said: “February and March 2016 salaries of teachers in Rivers State were not paid due to the biometric test ordered by the state government. Health workers in Rivers State were denied their October 2017

salary due to their participation in the national strike called by the Joint Health Sector Union (JOHESU). “Refusal to negotiate salary adjustment on the new national minimum wage with workers’ organisations. “Since the enactment of the new national minimum wage of N30,000, there has been no collective bargaining agreement and enabling circular for the implementation of the new national minimum wage in Rivers State.”

SECURITY NOW GUARANTEED...

L-R: President of Ohanaeze Ndigbo, Chief Nnia Nwodo; Enugu State Governor, Hon. Ifeanyi Ugwuanyi; and his deputy, Hon. Mrs. Cecilia Ezeilo, after the signing of the Enugu State Forest Guard Act 2020, into Law by the governor, during a security meeting at the Government House, Enugu...yesterday

Ugwuanyi Signs State Forest Guard Act into Law Ejiofor Alike Governor Ifeanyi Ugwuanyi of Enugu State has signed the State Forest Guard Act, 2020, which was enacted by the State House of Assembly, into law and directed the chairmen of the local government areas in the state to ensure the effective operations of the law. This is coming as traditional rulers, religious and opinion leaders, among others, yesterday rose from a closed-door meeting with Ugwuanyi, and passed a vote of confidence on the governor for the way he has been discharging his responsibilities in the state as the Chief Security Officer. Addressing journalists after the

meeting, the President-General of Ohanaeze Ndigbo, Chief Nnia Nwodo, said that they took brief from Ugwuanyi on the recent security developments in the state as well as the actions taken by his administration to arrest the situation and ensure that the state remains safe and peaceful. Nwodo, who disclosed that all those present at the meeting have reaffirmed their conviction to continue to support Ugwuanyi’s good works in ensuring that the state remains one of the safest in the country, added that the governor informed them that “he has given a directive to all the Local Government Chairmen to rejig our security architecture in

consultation with the traditional rulers and Presidents-General of town unions”. The President-General further disclosed that Ugwuanyi, who at the meeting, signed the Enugu State Forest Guard Act, 2020, enacted by the State House of Assembly, into law and directed the council chairmen to ensure the effective operations of the law, also “briefed us about herdsmen activities in some of the local government areas and actions taken in consultations with the security agencies to show them the way out of those areas that these have occurred.” Nwodo revealed that the governor told them how the State Security Council deliberated in details, the

recent civil disturbances in the state, and reassured them that “the state government will do everything in its powers to see that whoever was found to have not acted in conformity with the law will be adequately dealt with”. Justifying the vote of confidence, the President-General of the apex Igbo socio-cultural organisation, said: “In the last few days, an economic review of the state has shown that out of the six most viable states in Nigeria, Enugu State is one of them. The viability of each state was recorded on the basis of their capacity to generate enough internally generated revenue to sustain their recurrent expenditure without dependence on federal allocations”.

Over 28,000 Teachers Pass Professional Exam, Says TRCN Kuni Tyessi in Abuja

The Teachers Registration Council of Nigeria (TRCN) has released the result of the batch ‘B’ Professional Qualifying Examination (PQE) held in July 2020, with 28,094 teachers recording success in the examination. Registrar and Chief Executive of TRCN, Prof. Josiah Olusegun Ajiboye, who made this known yesterday in Abuja, said the total number that passed the examination make up 75 percent

of those who sat for it, while a total of 9, 246 candidates failed. He said the examination witnessed the participation of teachers from the 36 states and Federal Capital Territory (FCT), adding that candidates from Kaduna and Rivers States also took part in the exercise after the required permits were secured from the state governments. Ajiboye said: “On the whole, about 44,363 candidates registered for the examination but the total examined was 37,340 candidates. Due to the

prevalence of COVID-19 among other hiccups, a large number of candidates could not move around or write the examination. “We have about 7,023 candidates who didn’t write the examination. Majority of these people have actually written the examination before. They have been noted, and we are going allow them write the examination at the next available opportunity. “On the whole, 28,094 candidates passed the examination, which is 75.24 percent while a total of

9, 246 candidates failed, giving a percentage of 24.76 percent.” While saying the performance recorded in the examination was encouraging, the TRCN boss said it was introduced as a gate-keeping measure for the teaching profession. Prof. Ajiboye commended the new requirement in Colleges of Education that makes it mandatory for academic staff to have a TRCN registration certificate before they can be promoted.

ASUU Rejects Reopening of Universities Francis Sardauna in Katsina The Sokoto State zonal chapter of the Academic Staff Union of Universities (ASUU) has kicked against the calls for the reopening of Nigerian universities by some stakeholders in the country. The union, citing the COVID-19 pandemic and poor funding from the federal government, insisted that the

universities are not safe for reopening. ASUU Sokoto Zonal Coordinator, Mr. Jamilu Shehu, disclosed this yesterday at a press conference at the Umaru Musa Yar’Adua University, Katsina. The Sokoto zonal office of ASUU comprises Federal University Dutsin-ma; Usumanu Danfodiyo University, Sokoto; Umaru Musa Yar’Adua

University, Katsina; Kebbi State University of Science and Technology, Aliero, and Sokoto State University. Shehu said if the federal government reopened the institutions, the government would be held responsible if anything happens to the students. According to him, “It is far from the truth to say that universities can fulfill the

conditions laid down by the government for their reopening. With the hostels and lecture rooms choked up with students, how do you practice social distancing? “How many universities in Nigeria have running water on the campuses? The private universities clamoring for reopening, what percentage of students do they have compared to the public universities?”

Ë&#x153; ÍźË&#x153; ÍşÍ¸ÍşÍ¸ Ëž T H I S D AY

FRIDAYSPORTS

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

Efe Ajagba: I Have What it Takes to Beat Anthony Joshua Duro Ikhazuagbe with agencyreport Delta State-born Nigerian heavyweight boxer, Efe Ajagba, is unfazed by the achievements of his compatriot, Anthony Joshua who is the undisputed

champion of the category. Ajagba, 26, who turned pro shortly after failing to medal at the boxing event of the last Olympic Games in Rio de Janeiro, Brazil four years ago, told Sky Sports yesterday that he has what it takes to

Politano Urges Napoli Fans to be Patient with Osimhen Italy international, Matteo Politano, has urged Napoli fans to be patient with the clubâ&#x20AC;&#x2122;s record acquisition Victor Osimhen, stressing that the Nigerian striker has joined the team from a different championship. Osimhen showed glimpses of his enormous potential in his non-competitive debut for Napoli, scoring a hat-trick inside eight minutes as they demolished Lâ&#x20AC;&#x2122;Aquila Calcio

Victor Osimhen

1927 11-0 in a three-team tournament also involving Castel di Sangro. â&#x20AC;&#x153;Osimhen has great prospects, heâ&#x20AC;&#x2122;s a good guy and has to work calmly,â&#x20AC;? said Politano to Sky Sport Italia (via Tuttomercatoweb). â&#x20AC;&#x153;You shouldnâ&#x20AC;&#x2122;t expect everything immediately, it comes from a championship that is different from the Italian one. â&#x20AC;&#x153;He has potential, itâ&#x20AC;&#x2122;s up to him to put it into action. We are happy to have him on the team and we will give him a hand.â&#x20AC;? Politano is hoping that Osimhen can become a top level striker in the Serie A but cautioned that pressure should not be put on him. â&#x20AC;&#x153;It is our wish, it is of perspective and has a great leg. He is irrepressible, we should put him at ease,â&#x20AC;? he concluded. Osimhen proved himself as a goalscorer in his last two seasons with both Lille and Sporting Charleroi with 38 goals in 74 matches.

beat the Nigerian-born British heavyweight champion. Ajagba, who is unbeaten in 13 professional fights is rated among best heavyweight prospects in the world. â&#x20AC;&#x153;The people would support Joshua because he is the heavyweight champ,â&#x20AC;? Ajagba told Sky Sports. â&#x20AC;&#x153;Skill would beat Joshua, not power,â&#x20AC;? said the undefeated Ajagba. â&#x20AC;&#x153;Me and Joshua both have the power. But skills control the power..I have more skills.â&#x20AC;? Interestingly, Ajagba who failed at the Olympic where Joshua won a gold medal at the London 2012 Games,

insisted he knows the secret of the Sagamu-born British boxer. â&#x20AC;&#x153;The best weapon of Joshua is the left hook and right uppercut. He doesnâ&#x20AC;&#x2122;t have a good jab,â&#x20AC;? stressed Ajagba who was Nigeriaâ&#x20AC;&#x2122;s only boxing representative at the 2016 Olympics and was eliminated by Ivan Dychko of Kazakhstan. He however admitted to respect the heavyweight champion. â&#x20AC;&#x153;I respect him. He is the heavyweight champion. I respect everything about him â&#x20AC;&#x201C; his talent and his potential. He is a humble guy. â&#x20AC;&#x153;People are saying that I talk

Joshua down. But I donâ&#x20AC;&#x2122;t want to do that. â&#x20AC;&#x153;Joshua is from Nigeria so he is a part of Africa.â&#x20AC;? Ajagba is most remembered for winning his bout with Curtis Harper without throwing a punch. That fight was officially clocked at one second KO. As the opening bell rang for commencement of hostilities, Harper calmly exited the ring and walked backstage, never to be seen again. The clip went viral on the social media and viewed millions of times in the days afterwards. News later emerged that Harper did that in protest against

his own promoter. Details of the beef were never disclosed. According to Sky Sports, the next stage of Ajagbaâ&#x20AC;&#x2122;s development will be promoted by Bob Arumâ&#x20AC;&#x2122;s Top Rank. He has changed trainers to Kay Koroma, who also works with Shakur Stevenson and Jarrett Hurd, meaning he will be based out of Virginia. Ajagba is hoping to make his Top Rank debut this month and promoter Bob Arum said: â&#x20AC;&#x153;He has immense physical tools and a great work ethic. I have the utmost confidence that weâ&#x20AC;&#x2122;re looking at a future heavyweight champion.â&#x20AC;?

Efe Ajagba (left) believes he has what it takes to beat Anthony Joshua

U E FA N AT I O N S L E A G U E

Renovation Works Begin Germanyâ&#x20AC;&#x2122;s Timo Werner Shows Class against Spain New Chelsea signing Werner another effort. Helsinki - sped down the left them as opportunities to develop at Moshood Abiola showed why the Blues Spain keeper De Gea produced wing and played a perfect low younger players and this was have invested ÂŁ54m in his a flying save to deny Leroy Sane. cross for Moore to convert from another such example. Stadium in Abuja serviceswhen he drilled Elsewhere last night, Wales close range. In Thursdayâ&#x20AC;&#x2122;s other Group B4 Africaâ&#x20AC;&#x2122;s richest businessman, Aliko Dangote has matched words with action as renovation works have started at the MKO Abiola Stadium in Abuja. According to officials of the company carrying out the refurbishment of the mainbowl of the stadium, the job is expected to be completed in 24 weeks. Apart from the playing turf, a brand new scoreboard as well as the irrigation system of the complex are to be overhauled before the

facility will be offered for use by the national teams. Dangote accepted to renovate the facility as part of the â&#x20AC;&#x2DC;Adoption Policyâ&#x20AC;&#x2122; of the Sports Minister, Sunday Dare. Similarly, Philanthropist, Chief Keshington Adebutu has also agreed to invest N500 million to fix the football pitch and tartan tracks of the National Stadium in Surulere, Lagos. The stadium has been abandoned for close to 18 years.

past Spainâ&#x20AC;&#x2122;s David de Gea inside the penalty area to put Germany ahead during their UEFA Nations League last night. But Jose Gaya scored a dramatic 95th-minute equaliser with almost the last kick of the game to earn Spain a 1-1 draw against Germany in the Nations League. Gaya netted from close range to cancel out Timo Wernerâ&#x20AC;&#x2122;s goal for the hosts. Leeds Unitedâ&#x20AC;&#x2122;s club record ÂŁ26m signing Rodrigo missed two fine chances for Spain before going close with

made a winning 1-0 start to their Nations League campaign as Kieffer Moore struck a late goal to secure victory in Finland. Fielding a young and inexperienced team in the absence of several first-team players, Wales had an early goal disallowed as Moore pushed a Finnish defender before heading in. Finland missed a glorious chance to take a second-half lead when Leo Vaisanen somehow volleyed against the post from a yard out. Then with 10 minutes left, Daniel James - Walesâ&#x20AC;&#x2122; most potent attacking weapon in

That well-worked goal was a rare moment of quality in a second half that had threatened to fizzle out into something of a non-event for Ryan Giggsâ&#x20AC;&#x2122; side. But the Wales manager could reflect with some satisfaction on a promising evening which saw the emergence of further fledgling talents, including debuts for Manchester United midfielder Dylan Levitt and Liverpool full-back Neco Williams. Although Nations League matches are competitive and carry the potential reward of play-offs for major tournaments, Giggs has always maintained he would use

fixture, the Republic of Ireland drew 1-1 in Bulgaria.

RESULTS Germany Ukraine Russia Turkey Bulgaria Finland Moldova Slovenia Latvia Faroe

1-1 2-1 3-1 0-1 1-1 0-1 1-1 0-0 0-0 3-2

Spain Switzerland Serbia Hungary Ireland Wales Kosovo Greece Andorra Malta

Covid-19: PTF Approves Return of Sporting Leagues with No Fans

The Main-bowl of the MKO Abiola Stadium in Abuja undergoing renovation work yesterday

Almost six months after sporting activities were suspended in the country due to the Covid-19 pandemic, the Federal Government has given approval for eagues and other supervised outdoor events to resume

without fans in the stadium. Before yesterdayâ&#x20AC;&#x2122;s nod for sports to return, the FG recently approved use of recreational parks for supervised physical exercise and non-contact sports. The National Coordinator

of the Presidential Task Force on COVID-19, Dr. Sani Aliyu, disclosed the lifting lifting of the ban during its daily briefing in Abuja. â&#x20AC;&#x153;Restriction is removed on outdoor communal (non-contact) sports and

use of recreational parks for supervised physical exercise; and sporting leagues to resume with no fans in stadiums and with necessary NPIs to be directed by the Federal Ministry of Sports and Youth Development and the NCDC.

FRIDAY SEPTEMBER 4, 2020 â&#x20AC;¢ T H I S D AY

Friday September 4, 2020

UT H

& RE A SO

Price: N250

MISSILE

ASUU to FG

“Reopening tertiary institutions without taking concrete steps to address these issues will be suicidal. While government made arrangements for special bailout for airline operators and other private entities, no such arrangement was made for public universities” – The Lagos Zonal Coordinator of the Academic Staﬀ Union of Universities, Prof. Olusiji Sowande, telling the federal government why they won’t resume school now.

MAGNUSONYIBE GUEST COLUMNIST

Buhari Finally Bows to People’s Wish P resident Muhammadu Buhari on Tuesday, August 25, 2020 continued with the rejigging of his administration’s policy plank by repackaging his erstwhile three point development agenda of anti-corruption, fighting insurgency as well as economic development. He chose the occasion of the parley with diplomats for the presentation of their credentials to him to make the very important announcement which represents a policy sea change. He put it this way: “In our efforts to achieve a realistic domestic and foreign policy, as well as national development, we have identified the following nine priority areas to guide our policy directions over the next few years. “Build a thriving and sustainable economy; Enhance social inclusion and reduce poverty; Enlarge agricultural output for food security and export; Attain energy sufficiency in power and petroleum products and expand transport and other infrastructural development. “Expand business growth, entrepreneurship and industrialisation; Expand access to quality education, affordable healthcare and productivity of Nigerians; Build a system to fight corruption, improve governance and create social cohesion; and improve security for all.’’ Remarkably, anti-corruption war which was the number one priority and fulcrum of the former policy is now in the rear as it is being replaced by fighting poverty which was not originally on the agenda as number one priority. Coming on the heels of the reversal of the regimes unsustainable policies of fuel subsidy that has been gulping public funds estimated to be in excess of a trillion naira annually that should have been used to subsidize education which would be in support of production, instead of subsidising consumption which fuel subsidy is really about; the defence of the naira against the dollar or currency devaluation which has resulted in the hemorrhage of the foreign exchange reserve ,only a forth night ago, the relegation of the anti corruption policy of the administration to where it should have been from the get go, affirms my thoughts canvassed in the last public opinion piece that I published which is that Nigerian economy may well be under the full control of the new economic management team led by Doyin Salami, with Chukwuma Soludo and Bismarck Rewane and others as key drivers . With the economy out of the orbit of those who hitherto reveled in the pastime of continuously bashing and stigmatising Nigeria and Nigerians by tagging them with the toga of corruption with gusto, all in the effort to impress President Buhari whose ego they were massaging owing to his acclaimed zero tolerance for corruption, our country and country’s men/women were only rewarded, if you can refer to it as such, by trading places with India, as the new poverty headquarters of the world. And the branding of our country with that abhorrent epitaph happened after our economy descended into recession in 2016 which was more of a self-inflicted damage or own goal, than due to weak economic fundamentals, which really broke my heart. Obviously, with the busting of the anti-corruption bubble and demystification of the likes of the currently suspended EFCC boss, lbrahim Magu, the Presidential Advisory Committee on Anti Corruption, Chairman, Itse Sagay and a host of other hawkish Aso Rock Villa apparatchiks that were beating the drums for anti-corruption war for Mr. President’s listening pleasure and possibly for him to dance, now replaced by the new Chief of Staff to the president, Prof. lbrahim Gambari and the forward looking, tested and

Buhari tried economic policy wonks, the polity can now heave a sigh of relief. Tellingly, President Buhari’s choice of meeting with the diplomats for the public presentation of the new policy, carries the imprimatur of his chief of staff, Gambari who, as a juggernaut in foreign policy and affairs, is leveraging the ability and capacity of that August body to catalyse that good tiding abroad. Hopefully, the accomplished men and women now driving the new initiative who are manifestly desirous of nothing more than to prove their mettle and protect their already solid reputations, will remain in the front row with Mr. President, so that the administration may end well in 2023 in the best interest of the long suffering Nigerian masses, most of whom are currently at the point of asphyxiation, economically and security wise. lf my prediction and presumption about the new economic team being on the saddle now is correct, then Nigeria can be said to be on the cusp of witnessing a positive new dawn. Prior to the current positive turn of events, the choice between whether to wage war against corruption or poverty was open to the government at its inception in 2015. It chose war against corruption over war against poverty under the wrong notion that corruption is the cause of poverty which may appear correct, but that’s darn wrong because poverty is often a product of, or a fall out of poor planning or lack of a winning plan, hence the nation’s economy is now in the doldrums. Furthermore, the contest between the choice of warring against corruption or poverty reminds me of the current hard choice of whether to weigh in, on the side of life or livelihood by going out to work or staying at home, in dealing with the crisis of COVID-19 pandemic. It also re-enacts the conflict of conscience on whether to slow down economic activities and associated pollution in recognition of the damage it does to the climate and its threat to life/mankind or sustain economic activities/livelihood and Damon or live with the consequences. Happily, the administration has now chosen to wage war on poverty which is cheery news. As a proof of our consistent warning to the authorities via opinion articles, drawing their attention to the fact that, with their zealous war against corruption, they were hurting the economy more than they were helping with their fantastic and unsubstantiated corruption claims, permit me to put things in context by citing and reproducing excerpts from four of my previously published articles on the subject.

The essays include (1) “Balancing The War Against Corruption and Economic Growth,” (2) “How Can President Buhari Move The Economy Forward Looking Backwards”, and (3) “Which is Hurting More, Corruption or The War Against It? as well as (4) “The Role of The Judiciary, State And Society.” To further put things in perspective, allow me go on memory lane by recalling the first few paragraphs in the referenced articles commencing with the one titled, “Balancing The War Against Corruption And Economic Growth” published widely on 9 June, 2016 on both online newspapers such as the Cable and traditional newspapers. It goes thus: “The most significant telltale of the economic melt down in Nigeria is the drop in GDP from between 5-6% annually, a couple of years ago to an all time low of 2.7%, according to the National Bureau of Statistics, NBS figures for 2015. A further downgrade to about 2.3% this year is being forecasted, particularly if there is no upswing in international price of crude oil, which is very unlikely. The global rating agency, Fitch has also affirmed, NBS’s dismal growth outlook for Nigeria by downgrading Nigeria from BB- which is a negative forecast just as Standards and Poor, another acclaimed international rating agency has also stepped down Nigeria to B+ which is also negative. Both Fitch and S&P risk ratings are three and four steps respectively below investments grade which is a sad commentary on an economy which was one of the fastest growing in the world and the fastest in Africa only half a decade ago. Not to be out done by the global agencies that are reckoning that Nigeria’s economic future may be impaired, the International Monetary Fund, IMF in a recent report -Article IV Consultationwhich is an outcome of IMF Managing Director, Christine Lagarde and her team’s recent visits for consultations with Nigeria, avers that “Nigerian economy is facing substantial challenges”. The harm that negative risk ratings such as the ones listed above do to economies is to increase the cost of borrowing from sovereign wealth funds, hedge funds and portfolio equity funds abroad. Unsurprisingly, all the aforementioned dismal economic outlooks are being attributed to the sudden drop in crude oil price which traded at over $100 between 2012-2014 but suddenly dropped by about 70% to between $30-40 since late 2015. However, the injurious impact of the crash in oil price does not tell the whole story about the distress in Nigerian economy because the reality is that President Muhammadu Buhari’s fight against corruption has also, perhaps unintentionally, exacerbated the instability in the polity to the extent that the political tension is now having a contagion effect on the economy and as such it is taking an unintended toll. The assertion above is premised on the fact that while new investment initiatives are not being taken, owing to the tough fiscal and monetary measures arising from the anti corruption war, existing businesses are grinding to a halt, due to the hiatus engendered by the uncertainties and disarray in the economy. There are three significant and overlapping anti-corruption initiatives of govt that have become the triggers for the current economic doom and gloom, manifesting in Nigerian streets and cities as fuel queues, high cost of living and massive unemployment amongst the youths. The first is the so-called Dasukigate -$2.1bn arms funds, allegedly converted into campaign slush funds and the ripple effect. The probe has

sent jitters down the spines of both genuine and fraudulent businessmen and women engaged in defence and security sectors of the economy, such that even the non-guilty are afraid. That’s unsurprising because over 300 companies that did business with the Office of the National Security Adviser (ONSA) are being investigated by the dreaded Economic and Financial Crimes Commission (EFCC) led by the fearsome Ibrahim Magu. With such huge number of companies under scrutiny, the apprehension and uncertainty engendered have become contagious to the extent that others are now afraid to continue to do business, so they are adopting a wait-andsee attitude. The proposed one day workers’ strike by the Nigeria Labour Congress (NLC) to forcefully bring the plight of workers bearing the excruciating pains of a collapsing economy to the attention of govt, is a testimony to the fact that the Nigerian situation is degenerating into a potential labour crisis and it is a result of the absence of defined fiscal policies. Secondly, apart from security focused companies involved with ONSA that are being quizzed, oil/gas companies have also been under the gaze of anti graft agencies. With the corruption ridden crude oil for refined products swap contract reviewed by the new Minister of State for Petroleum Resources, Ibe Kachikwu and a new list of crude oil lifting firms drawn up, as well as a new template for importation of refined petroleum products replacing the former procedure, there is bound to be disruptions and the resultant consequence is the fuel queues on the streets. This perhaps explains why Kachikwu, who also doubles as the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), told Nigerians that he was not a magician who could wave a wand so that the embarrassing fuel queues would disappear over night. The straight talking Kachikwu’s narrative didn’t resonate well in the political circles, so he got lambasted by APC leader, Bola Tinubu for not being politically correct. Even though it should be clear to everybody that the fuel queues won’t go away till the month of May, when the new imports are expected to arrive as importers only just received allocation of foreign exchange, politicians and activists would rather Kachikwu apologised to Nigerians instead of telling the truth. We do not need a soothsayer to inform us that the disruptive petroleum sector probes were bound to have consequences and barring plans to mitigate such fallouts – like govt having strategic reserves of fuel in different locations nationwide-the current fuel shortages were inevitable. The simple truth is that companies (downstream and upstream) accused of short changing Nigerians through shady Oil Swap and opaque production sharing contracts, have been returning their loots and in the process, their treasuries have been running dry such that they are unable to sustain their operations like before. The net result is the downward scaling or complete shut down of some of the oil companies thereby further compounding the already dire unemployment situation in our country. t0OZJCF JT BO FOUSFQSFOFVS B QVCMJD QPMJDZ BOBMZTU EFWFMPQNFOU TUSBUFHJTU BO BVUIPS BOE BMVNOVT PG 'MFUDIFS 4DIPPM PG -BX BOE %JQMPNBDZ 5VGUT 6OJWFSTJUZ .BTTBDIVTFUUT 64" BT XFMM BT GPSNFS DPNNJTTJPOFS JO %FMUB 4UBUF NOTE: This piece is concluded in the online edition on www.thisdaylive.com

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