WEDNESDAY 9TH SEPTEMBER 2020

CBN Rebukes NESG, Says Interventions Aimed at Stabilising Economy Insists amended BOFIA confers no immunity on CBN governor, but protects FG like other laws Obinna Chima, Peter Uzoho and Dike Onwuamaeze Central Bank of Nigeria (CBN) yesterday insisted that its aggressive development finance activities since the

outbreak of COVID-19 were aimed at stabilising the economy as well as to support the efforts of the federal government to stimulate economic activities.

CBN stated this in a

statement titled: “Re: Matters of Urgent Attention,” signed by its Director, Corporate Communications, Mr. Isaac Okorafor, which was a direct response to an earlier statement by the Nigeria

Economic Summit Group (NESG) which criticised some of its policies, especially on foreign exchange management.

NESG also requested President Muhammadu Buhari to withhold assent to

the repealed and re-enacted Bank and Other Financial Institutions Act (BOFIA) 2020, recently passed by the National Assembly.

It said the bill contains certain provisions that

breached the constitution, confers immunity on CBN officials and exempts actions

by CBN from judicial review.

However, the bank replied Continued on page 9

NEITI: FAAC Disbursed N3.8tn to FG, Others in Six Months... Page 8 Wednesday 9 September, 2020 Vol 25. No 9284. Price: N250

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PPPRA Goes Full Blast, Dumps Petrol Price Fixing Organised private sector backs FG on electricity subsidy removal Fuel should be cheaper, says Atiku Chuks Okocha, Emmanuel Addeh in Abuja and Dike Onwuamaeze in Lagos Henceforth, fuel marketers would fix the pump price of

petrol under the deregulation regime, the industry's regulator, the Petroleum Products Pricing Regulatory Agency (PPPRA) has said.

The agency stated yesterday

that its roles would change from price-fixing to policing the downstream sector of the oil and gas industry.

The deregulation policy also received a boost yesterday as

the Organised Private Sector (OPS) rallied support for it.

However, former Vice President Atiku Abubakar has faulted the position of the federal government that the

deregulation of the price of petrol is the reason the pump price of fuel was increased.

PPPRA General Manager, Administration and Human Resources, Mr. Victor Shidok,

told reporters in Abuja that the interplay of market forces and not the organisation would now determine petrol price.

Continued on page 10

Buhari Directs Full Release of N2.3tn to Fund Economic Sustainability Plan Insists he has done his best, urges elites for fair assessment Narrates experience with Trump on alleged killing of Christians Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday said he had directed the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, and the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to ensure a timely release of the proposed N2.3 trillion for the implementation of economic sustainability plan (ESP) as well as funds for capital projects.

The president, at the end of a two-day "First-Year Ministerial Retreat," yesterday in Abuja, said he had done his best for the country within the available limited resources and urged the elite to judge his administration with fairness.

He also said his administration has made

progress in all fronts and charged his cabinet members to be alive to their responsibilities.

He demanded optimum performance from them so his administration could make Nigeria better for the people.

The president, who said his government had recorded some achievements, urged ministers and heads of agencies to "go on the offensive" to defend them.

Buhari also narrated his experience with the United States President, Mr. Donald Trump, when the American leader once asked him why he was killing Christians.

He said though he was pained by the allegation, he took his time to explain to his US counterpart that the killings Continued on page 9

Constitution Review: Senate Gets 48 Memos from Afenifere, Others... Page 5

COVID-19 COMPLIANT...

Vice President Yemi Osinbajo (SAN) (left), and President Muhammadu Buhari during the ministerial retreat in Abuja…yesterday

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

Constitution Review: Senate Gets 48 Memos from Afenifere, Others Middle Belt proposes 12 federating units, 18 more states

Deji Elumoye and Udora Orizu in Abuja No fewer than 50 memoranda have been submitted by individuals and groups to the Senate Committee on Constitutional Review headed by the Deputy President of the Senate, Senator Ovie OmoAgege, THISDAY has learnt.

The committee, which was inaugurated in February, had a fortnight ago requested for memoranda from the public to enable it to amend the 1999 Constitution, latest by yesterday.

The Middle Belt Congress, on its part, is canvassing the creation of 12 federating units under which the states would operate.

The groups and individuals that submitted their memoranda included the pan Yoruba sociocultural group, Afenifere and its Niger Delta counterpart, Pan Niger Delta Forum (PANDEF); Coalition of Federalists for Good Governance (CFGG); former Minister of Information and Culture, Prince Tony Momoh, and presidential candidate of the Abundant Nigeria Renewal Party (ANRP) in 2019 general election, Mr. Tope Fasua.

The Middle Belt Congress in a 19-page memo to the committee dated September 4, 2020, a copy of which was sighted by THISDAY, listed some sections of the constitution, which it wants to be amended.

According to the memo, the group is seeking the creation of 12 federating units as well as 18 additional states, devolution of police, change in form of government, federal structure, judicial and electoral reforms, and removal of the immunity clause, among others.

The memo proposed amendments to sections 2 and 3 of the federal structure to identify and name the geographical units that would federate as 12 provinces.

The group canvassed only two tiers of government - the federal government and sub-national governments

(provinces) - while the local governments would now be administrative units of the sub-national governments.

The proposed 12 provinces are: "North-west Province, comprising Sokoto, Kebbi and the Zamfara states; North-central Province shall comprise Kaduna and Katsina states; North-north Province shall comprise Kano, Jigawa and Ghari states; while the North-east Province shall comprise Borno, Yobe, Gombe, Bauchi, Amana, Savannah and Katagum states.

"Middle-Belt West Province shall comprise Niger, Kwara, Kogi, Edu and Kainji states. ''Middle-Belt East Province shall comprise Plateau, Benue, Nasarawa, Adamawa, Taraba, Gurara and Apa states.

"Western Province shall comprise Oyo, Osun, Ondo, Ekiti, Ose, Okun and New Oyo states. South-west Province shall comprise Lagos, Ogun, and Ijebu states.

"Mid-West Province shall comprise Delta, Edo and Anioma states. Niger Delta Province shall comprise Rivers, Bayelsa and Oil River states. South-East Province shall comprise Anambra, Abia, Enugu, Ebonyi, Imo, Aba, Adada, Njaba and Etiti states. South-South Province shall comprise Akwa Ibom, Cross River and Ogoja states.''

On state creation, it said the 61 requests received by the Seventh National Assembly in 2012, proved that majority of Nigerians are not satisfied with the groupings that the various military governments did and they want a democratic correction of the anomalies.

According to the group, the creation of 18 states would address many political, religious and ethnic problems bedeviling the country.

The 18 states were recommended by the 2014 National Conference, to be shared three to each of the six geopolitical zones. They include: Aba State from Abia State; Adada State from Enugu State;

Amana State from Adamawa State; Anioma State from Delta State; Apa State from Benue State; Edu State from Niger State; Etiti State from South-east geopolitical zone; Ghari State from Kano State and Gurara State from Kaduna State.

Others are: Ijebu State from Ogun State; Kainji State from Kebbi and Niger States; Katagum State from Jigawa State; New Oyo State from Oyo State; Njaba-Anim State from Anambra and Imo States; Ogoja State from Cross River State; Oil River State from Rivers State; Okun State from Ekiti, Ondo, Kwara and Kogi states and Ose State from Edo State.

The group also described the presidential system as prone to corruption, while creating huge bureaucracies that slow down work.

It advocated a switch to a parliamentary system as the presidential system is expensive due to the huge number of political appointees, votes cast for losing candidates are counted but do not count because they receive no representation.

It urged lawmakers to make provision in the constitution to enable Nigerians in the Diaspora to vote.

On state police, the congress suggested that amendments should be done to sections 214 & 215 to allow for federal police and provincial police forces, all with their inspector-generals and operating independently of each other.

It also proposed a removal of Section 308 of the 1999 Constitution, which provides that no civil or criminal proceedings shall be instituted against the president, vice president, governors and their deputies while in office.

It added that the immunity clause places the beneficiaries above the laws while in office.

The group proposed power devolution in the amendments, saying the federal government is overburdened and has not been able to cope with its responsibilities, hence some items in the exclusive list should be transferred to the concurrent list.

It said: ''For a federation, too

little power has been left for the states. The following 31 items are recommended for transfer to the concurrent list: aviation, including airports; bankruptcy and insolvency; banks, banking, bills of exchange; borrowing of monies within or outside Nigeria; census; commercial & industrial monopolies, combines and trusts; construction, alteration and maintenance of roads; control of capital issues; copyright; creation of states; drugs and poisons. ''Fingerprints, identification and criminal records; fishing and fisheries; incorporations, regulations of winding up of bodies corporate; insurance; labour; meteorology; mines and minerals; national parks; pensions, gratuities and the such; police & other government security; prisons; professional occupations; public holidays; quarantine; railways; stamp duties; the formation, annulment & dissolution of marriages; trade and commerce; traffic on federal trunk roads; and water.''

One of the groups that also submitted a memorandum to

the committee is the Coalition of Federalists for Good Governance in Nigeria (CFGG).

CFGG in a memo jointly signed by its National Coordinator, Mr. Taiye Odewale, and Secretary, Ms. Aisha Jibrin, canvassed the transfer of mining and policing from the exclusive list to the concurrent list in paving the way for the creation of state police.

It also called for the collapse of the entire 35,000 kilometerslong Trunk A roads across the country with the exception of those linking Nigeria to another country, into Trunk B roads to be managed by affected state governments.

It advocated a review of revenue sharing formula from 52.68 per cent being taken by the federal government to 40 per cent, to free funds for the 36 states to carry out the new constitutional responsibilities proposed for them.

The 36 states in the present revenue sharing formula collect 26.72 per cent, while the 774 local government councils share the remaining 20.60 per cent.

CURBING HUMAN TRAFFICKING...

L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu; Director-General, National Agency for the Prohibition of TraďŹƒcking in Persons (NAPTIP), Mrs. Julie Okah-Donli; and state Attorney General and Chairman, State Task Force on Human TraďŹƒcking, Mr. Moyosore Onigbanjo (SAN), during the inauguration of Lagos State Task Force on Human TraďŹƒcking and Irregular Migration in Lagos‌yesterday

Christian Leaders, Others Shun Peace Summit on Southern Kaduna Accuse organisers of not consulting them John Shiklam in Kaduna Kaduna State chapter of the Christian Association of Nigeria (CAN), the Southern Kaduna Peoples Union (SOKAPU) and the Southern Kaduna Christian Leaders Association yesterday boycotted a peace summit in Kafanchan in Jema'a Local Government Area of Kaduna State.

The summit was organised by the Nigeria Christian Pilgrims Commission (NCPC) as part of efforts to find lasting peace and stop the killings in communities in Southern Kaduna.

The three groups said they stayed away because key stakeholders were not carried along in organising the summit.

CAN, in a letter dated September 3, 2020, and

addressed to the Chairman of the Local Organising Committee of the summit, Pastor James Movel, disassociated itself from the summit, saying it “lacks transparency in planning it."

The letter signed by the state secretary of CAN, Rev. Sunday Ibrahim, said the association would not support conflict entrepreneurs to use the horrible situation in Kaduna to their advantage. “We find the organisation of the proposed summit as inappropriate even as CAN Kaduna State has been involved and is still involved in working for long-lasting peace in Southern Kaduna and Kaduna State as a whole in partnership with genuine, purpose-driven, and sincere stakeholders in peace-building and are open

to such partnerships always. “The Southern Kaduna security challenges need a holistic and genuine approach and not a whitewash, playing to the gallery approach,� it said.

CAN added that since it was only an invitee to the summit, it could not vouch for the motives of the organisers. “Without a doubt, CAN and JNI remained the most recognised authorities representing Christians and Muslims hence, are legitimate authorities to partner with for a peace process as the one we yearn for and other matters relating to religion in Nigeria as a whole. “To this end, CAN Kaduna State disassociates itself from this summit in its entirety, given the lack of transparency in the

planning of the summit,� it stated.

Also in a statement, the Chairman of Southern Kaduna Christian Leaders Association, Bishop Simon Mutum, said “key stakeholders were left out� in organising the summit.

According to him, the people who bore the brunt of the genocide over the years learnt of the peace summit a few hours to its commencement.

Mutum said: “From all indications, all the arrangements had been completed without the involvement of some of the key stakeholders of Southern Kaduna that have been suffering from the killings. “We are also troubled that a peace summit can be organised for people without involving the key leaders of the people

to be discussed with/about.�

On its part, SOKAPU, an umbrella body for ethnic nationalities in Southern Kaduna, said it could not participate in the peace summit because the notice was too short and it could not consult with stakeholders.

In a letter dated September 6, 2020, and addressed to Movel, the union said the invitation came when consultations with key stakeholders in Southern Kaduna were yet to be concluded.

The letter signed by SOKAPU Secretary, Mr. Stephen Mallan, said: "SOKAPU appreciates this laudable initiative for a peace summit, especially at this crucial period when peace has eluded most of our communities.

"That SOKAPU has accepted

the invitation and is willing to participate in the peace summit.

"However, this invitation came when we were yet to conclude our consultations with key stakeholders in Southern Kaduna.

"Furthermore, SOKAPU had wished to have prior consultations with the conveners before the summit.

"In this regard, we are kindly requesting that the summit be rescheduled to a later date to enable us to conclude all consultations, otherwise, the summit may proceed and we shall be glad to be communicated with the outcome.�

However, the summit went on as scheduled, with over 100 participants across religious faiths in attendance.

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NEITI: FAAC Disbursed N3.8tn to FG, Others in Six Months Emmanuel Addeh in Abuja Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday put the amount the Federation Accounts Allocation Committee (FAAC) shared among the federal, state, local government areas and other statutory recipients in the first half of 2020 at N3.879 trillion.

A breakdown of the disbursements, according to a statement signed by the organisation's Director of Communications and Advocacy, Dr. Ogbonnaya Orji, showed that N1.53 trillion went to the federal government, the 36 states shared N1.29 trillion and the 774 local government areas received N771.34 billion.

The breakdown also showed that the combined total net disbursements of N321.29 billion received by the four highest

receiving states of Delta, Akwa Ibom, Rivers and Bayelsa were higher than the combined total net disbursements of N314.08 billion to 16 states.

The information and data, contained in the latest edition of the quarterly review of the organisation released in Abuja, showed that the N1.53 trillion received by the federal government in the first half of 2020 was 4.28 per cent lower than the N1.599 trillion it got in the first half of 2019 and 7.36 per cent lower than the N1.652 trillion it received in the first half of 2018.

According to NEITI, the story is not different for the states and local government areas which also got lower revenue. “For states, a total of N1.298 trillion was disbursed in the first half of 2020. This was 2.8 per cent lower than the N1.35

Banks’ Impairment Charges Soar by N46.5bn over COVID-19

Goddy Egene

The impairment charges for risk assets of the six leading banks jumped by N46.542 billion or 102 per cent in the first (H1) of the year ended June 30 as they increased provisions for loan losses to cover the impact of the COVID-19 pandemic on their operations.

In the 2019 full year, impairment charges by the leading lenders had declined significantly as a result of improved risk management and recovery strategies.

Although some of the banks recorded an increase, while others recorded a decline in the first-quarter (Q1) of 2020, all the top banks have witnessed a significant jump in impairment charges at the end of the first half of 2020 due to the negative impact of COVID-19.

Access Bank Plc, FBN Holdings Plc, Guaranty Trust Bank Plc, Stanbic IBTC Holdings, United Bank for Africa Plc and Zenith Bank Plc, which recorded total impairment charges of N45.476 billion in the first half of 2019, ended the first half of 2020 with charges of N92.018 billion, indicating an increase of N46.542 billion or 102 per cent.

A breakdown showed that Stanbic IBTC, which recorded a recovery of N557 million in 2019, made a provision of N6.

4 billion in 2020.

The impairment charges of Access Bank Plc soared by 237 per cent from N4.88 billion to N16.47 billion, while that of GTBank Plc rose by 209 per cent from N2.186 billion in 2019 to N6.77 billion in 2020.

UBA Plc made a provision of N3.12 billion in 2019, but has to increase it by 150 per cent to N7.807 billion in 2020.

Zenith Bank Plc recorded impairment charges of N23.92 billion in 2020, indicating a jump of 74.2 per cent compared to N13.74 billion in 2019. FBN Holdings Plc provided N30.651 billion, up from N22.107 billion in 2019.

While the impairment charges do not mean outright losses, financial research analysts said the banks are raising their provisions so as to adequately cover the impact of COVID-19 on businesses.

In view of the impact of COVID-19 on the businesses and the banking sector particularly, Cordros Research had said it expected the cost of risk across the industry to spike by 2021 full year (FY) and non-performing

loan (NPL) moderation to temper as well following an initial dip that would follow the significant loan growth. “Notwithstanding, NPLs are expected to spike in the event of any stress to the system, which could easily cascade into wider systemic frailty. On the whole, we remain negative on the banking sector, especially as asset quality is expected to have come under pressure during the pandemic,� it said.

In their comments on the outlook for the year, analysts at United Capital Research, said while the appetite for loan growth had been muted in the past due to tighter operating environment, recent regulatory pronouncements would compel the banks to do more. “In 2020, we expect banks to be more aggressive at growing their loan books. When considered in the context of the banks that were penalised in September 19, the 65 per cent regulatory LDR guideline has more implications for the Tier-1 banks as well as many of the international banks. They are more liquid and better capitalised, but broadly less aggressive compared to their smaller counterparts whose LDR currently run ahead of the regulatory minimum.�

They had explained that they expect a more aggressive lending drive by the larger banks in 2020, noting that this implies that fixed term deposit rates would be low as the banks move to optimise deposit growth to meet the required LDR. “To aggressively grow their loan books, we expect the banks to strengthen their risk management framework to support credit origination.

Beyond regulation, CBN’s expansionary stance, which is expected to keep the yield environment low, will also propel banks to seek out outlets for funds, especially in riskier assets to optimise earnings yield. “Notably, the observed improvement in industry NPL, which moderated to a four-year low of 6.7 per cent in Q3-19, gives the impression that the default rate is moderating.

Hence, the bank should be more willing to expand their loan books. The above notwithstanding, we do not expect loan growth to revert to the 2012-2015 levels, given that banks will be more cautious in their credit origination and deployment going forward,� they said.

trillion disbursed in the first half of 2019 or 5.6 per cent lower than the N1.375 trillion disbursed in the first half of 2020,� the report stated.

For local government areas, the report said the 2020 first half disbursements were 2.64 per cent and 3.04 per cent lower than the corresponding disbursements for 2019 and 2018 respectively.

It, however, noted that disbursements in Q2 2020 were 1.09 per cent higher than the total disbursements in Q2 2019 and 3.66 per cent lower than the one for Q2 2018. “FAAC disbursements in the second quarter of 2020 stood at N1.934 trillion. This was made up of N739.2 billion to the federal government, N629.3 billion to state governments, and N375.4 billion to the 774 local government areas,� NEITI stated.

The report said the total FAAC disbursements in the second quarter of 2020 were lower than the N1.945 trillion disbursed in the first quarter of 2020, noting that it aligned with the projections made in the previous issue of the review, which projected lower FAAC disbursement in the second quarter.

NEITI report attributed the 0.55 per cent decrease in Q2 2020 to a couple of factors, namely: “rebound in oil prices in the second quarter as a result of ease of lockdowns by countries across

the world and the adjustment of the official exchange rate by CBN from N307/$1 to N360/$1 in March resulting in higher naira disbursements.�

NEITI said FAAC disbursements in the first quarter and the second quarter of 2020 were very volatile, with the difference in total disbursements between months ranging between N58.9 billion and N199.3 billion. “During this period, the disbursements were very volatile in the first half of 2020, compared to 2018 and 2019. Unlike 2018 and 2019 where aggregate disbursements increased and decreased in successive months, in 2020 they fell for two straight months, increased in one month, and then decreased for two straight months,� the report stated.

It added that in the months under consideration in 2020, aggregate disbursements fluctuated by large amounts, compared to 2018 and 2019. “Aggregate disbursements were N716.3 billion in January and this fell to N647.4 billion in February.

Thereafter, disbursements fell to N581.6 billion in March, before increasing to N780.9 billion in April. “Disbursements then fell to N606.2 billion in May and to N547.3 billion in June. These figures indicate differences of N68.9 billion between January

and February, N65.7 billion between February and March, N199.3 billion between March and April, N174.7 billion between April and May, and N58.9 billion between May and June. “For comparison, the highest inter-month difference in the first half of 2018 was N62.9 billion, while the corresponding figure for 2019 was N63.5 billion.

Thus, there have been very wide fluctuations in aggregate disbursements so far in 2020,� it noted.

NEITI added that from January to May 2020, actual government revenue was N1.62 trillion, representing 62 per cent of the expected pro-rata revenue of N2.62 trillion from the revised budget. “That also explained a shortfall of 38 per cent in government revenue for the first five months of the year. As oil prices continue to rise, and with the increased pace of economic activities, NEITI projects that government revenue will perform better in the second half of 2020, with the possibility of shortfalls in revenue compared to budgeted figures,� it stated.

On total net FAAC disbursements and deductions for states for the first half of 2020, NEITI said it observed wide disparities. “For instance, Osun State had the lowest net disbursement of N13.13 billion, while Delta State

had the highest net disbursement of N100.81 billion. This implies that Delta State received seven times the disbursement that Osun State received,� it said.

According to the report, “total net disbursements received by Delta State (N100.81 billion) was higher than the combined total net disbursements of N99.47 billion received by six states – Osun, Cross River, Plateau, Ogun, Gombe and Ekiti."

Also, it stated that the combined total net disbursements of N321.29 billion received by the four highest receiving states of Delta, Akwa Ibom, Rivers and Bayelsa were higher than the combined total net disbursements of N314.08 billion received by 16 states.

NEITI listed the 16 states as Osun, Cross River, Plateau, Ogun, Gombe, Ekiti, Zamfara, Kwara, Nasarawa, Ebonyi, Taraba, Benue, Adamawa, Ondo, Bauchi and Abia.

Lagos State, however, has the highest deductions while Yobe State has the lowest.

The information contained in NEITI quarterly review, the organisation said, followed analysis of disbursements by FAAC in the second quarter and the first half of 2020 using data from the National Bureau of Statistics (NBS) and NEITI’s data generated from attendance at FAAC meetings.

THE POLISH TOUCH...

Kaduna State Deputy Governor, Dr. Hadiza Balarabe (left), and Ambassador of Republic of Poland to Nigeria, Mrs. Joanna Tarnawska, during a courtesy visit to the Government House, Kaduna‌yesterday

IG Adamu Assures Obaseki of Level-playing Field Edo APC, PDP bicker over alleged impersonation of party agents Adibe Emenyonu in Benin City Inspector General of Police (IGP), Mr. Mohammed Adamu, has assured Edo State Governor, Mr. Godwin Obaseki, of a levelplaying field in the forthcoming governorship election in the state, promising that the police would be neutral in its operation.

THISDAY learnt that the governor met with IGP on Monday on the escalating violence in the state with the fears that the police might take sides with his main challenger, Pastor Osagie Ize-Iyamu of the All Progressives Congress (APC).

A source close to the meeting said Obaseki and his team thanked Adamu for accepting to see them.

According to him, “Obaseki thanked Adamu for providing security for them throughout his statewide campaign. He reported about 11 cases of violence in the state during the campaign and he accused APC of being behind the violence. “He begged IGP to provide enough security during the

elections and pleaded with him not to take sides.�

It was further learnt that Obaseki complained about Capt. Hosa Okunbo, a billionaire businessman backing Ize-Iyamu, saying the businessman was smearing his name and pleaded with IGP to rein him in.

IGP reportedly assured him that he would ensure that the police engage the electoral assignment professional, explaining that the force had made adequate arrangements to secure the election.

Meanwhile, Edo State chapters of APC and the Peoples Democratic Party (PDP) have engaged in a war of words over an allegation by APC’s campaign council that the agents of the ruling party were impersonating members of the National Youth Service Corps (NYSC) to rig the September 19 governorship election.

In a statement yesterday, the Chairman of the APC Media Campaign Council, Mr. John Mayaki, called on the people and the Independent National

Electoral Commission (INEC) to thwart the alleged plot by the state government and PDP to rig the election.

But in a swift reaction, PDP said APC had run out of narratives and now resorted to juvenile innuendos.

Quoting unnamed sources, Mayaki alleged that some civil servants in the state were impersonating NYSC members in Owan West, Owan East and Akoko Edo Local Government Areas of the state.

Mayaki said one of the sources stated that only a few corps members turned up for the election duty and that at least 30 per cent of people currently undergoing training are state civil servants who have graduated over five years ago.

He accused PDP of being behind the plot, alleging that the same fraud was witnessed in Oredo Local Government Area, where 300 NYSC members who were trained did not apply through the portal.

"The mission of these agents, it was disclosed, is to perpetuate

the governor’s anti-democratic agenda during the elections.

"We condemn this unwholesome development and call on INEC and other bodies with election supervisory mandate to prevail on the emerging rigging style of the PDP. All Edo citizens must be vigilant to quell any attempts to pilfer their mandates," Mayaki stated.

But PDP in a statement by its Publicity Secretary in the state, Mr. Chris Nehikhare, said he would not dignify APC with a response, adding that the party has no chance of winning the election. “There is no gainsaying that APC’s rigging plans have suffered a devastating setback as Aso Rock has told them that Edo people will determine their fate.

"Their much taunted federal might is a mirage! Instead of APC to be drafting a memorable concession speech, they are busy contriving rigging plans of PDP. All these allegations are baseless and should be ignored," Nehikhare said.

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PAGE NINE BUHARI DIRECTS FULL RELEASE OF N2.3TN TO FUND ECONOMIC SUSTAINABILITY PLAN of Christians in Nigeria “has got nothing to do with ethnicity or religion.�

Buhari said all he wanted was a result of not only the ministers, but also from permanent secretaries and heads of parastatals.

He added that he was looking forward to a result-oriented second year in office that would bring about the desired change in the lives of the people.

"I hereby charge the ministers, permanent secretaries and all heads of parastatals to be continuously conscious of their commitment and responsibilities. On behalf of the people of Nigeria, I demand the utmost levels of performance, deliverables and results. I look forward to a result-oriented year with tremendous benefits that will continue to change the lives of our people positively," he stated.

According to him, ministers are to ensure that released funds are prudently and transparently utilised for the purposes they are allocated in accordance with the federal government's priorities.

He said: "I have directed the minister of finance, budget and national planning, the governor of the Central Bank of Nigeria and all other responsible agencies to ensure speedy and timely release of funds to MDAs for implementation of the N2.3 trillion economic sustainability plan and the capital projects in the 2020 budget.

"I also enjoined ministers to ensure that funds released are utilised efficiently and transparently in implementing the programmes and projects under the line priority areas of government."

He warned that bickering among ministries, departments and agencies (MDAs) would no longer be tolerated and directed a reactivation of the coordination delivery unit in the Office of the Secretary to the Government of the Federation (SGF) to monitor their activities and performances.

He directed government officials to go on the offensive

in the defence of the activities of government to guard against what he described as the spread of falsehood against the government.

According to him, information should be well packaged and government functionaries should deliver it.

He added that matters relating to the Federal Executive Council (FEC) should be directed to the SGF, while ministerial requests for meetings with him should be sought through the chief of staff.

"The days of insufficient collaboration, coordination and synergy among implementing ministries, departments and agencies (MDAs) should be over.

In this regard, I have directed that essential coordination delivery unit in the Office of the Secretary of the Government of the Federation should be revived to ensure we focus on results.

The SGF is to ensure regular reports on progress submitted.

"I have charged all of you to defend the government vigorously and not allow any irresponsible and politically motivated statements to keep spreading falsehoods about this government.

"Information to the public should be better packaged, go on the offensive. We are proud of our achievements and we should blow our own trumpets.

Let me also reiterate that all submissions for my attention or meeting requests should be channelled through the chief of staff, while all Federal Executive Council (FEC) matters should be coordinated through the Secretary to the Government of the federation," he said.

Buhari Urges the Elite to Judge His Administration Fairly The president also urged the elite to judge his administration fairly.

Buhari also spoke about his party, the ruling All Progressives Congress (APC), and the promises it made to Nigerians when it was campaigning for

election, pleading with the elite to be fair in their assessment of his government.

He asked them to reflect on the state of infrastructure and the price of crude oil in the international market before he came to power and what it was when he took over.

He told cabinet members to implore their friends to reflect on what his government has achieved, saying he's doing his best with the two chances that God has given him to be in power.

He said: "The next problem I want to tell you is how we found ourselves; when I say us, I mean members of APC when we promised three things, security, economy and fighting corruption. We repeated the same thing last year. “But I want the Nigerian elite to please encourage us and judge us fairly when we came. Between 1999 and 2014, I will like you to please check the average (crude oil) production was 2.1 million barrels per day, the average cost was $100 per barrel. “When we came it collapse to $37 to $38 per barrel and the militants were unleashed on the administration, the production went down. “I want you to please reflect what was the condition of the infrastructure then in spite of the earnings, the roads? There was no power and up to now, there is no power. Where did the money go? “So, please encourage your friends the elite to reflect on what this administration has done, what APC has done, and what we have achieved. Well, I am doing my best, God has given me two chances.�

He cited his administration’s achievements in railways and the Second Niger Bridge, which he said has recorded 46 per cent completion, promising that it would be completed before the end of his tenure in 2023.

On corruption, the president said he was “doing" his "best� to fight corruption by “trying to follow the system� in contrast

to his brief military regime in 1984 when he arbitrarily rounded up politicians, threw them in jail and required them to prove their innocence.

According to him, “I’m being called ‘baba go slow’ because I am now following the system.�

Buhari Narrates Experience with Trump on Alleged Killing of Christians Buhari, who said he was put on the spot by Trump when he was alone with him, added that the American leader accused him of killing Christians.

He said the question startled him but he put his emotion under control.

The president, who deviated from his closing speech, said he was the only African leader from less developed countries that was invited by Trump at the time.

Buhari asked his cabinet members how they would feel if they were the ones put on the spot and confronted with such a grave allegation, adding that he told Trump that the conflicts were caused by successive Nigerian leaders who tampered with established grazing routes.

According to him, only Nigerian leaders in the First Republic kept grazing routes while subsequent ones encroached on them.

"I believe I was about the only African among the less developed countries the President of United States invited, and when I was in his office, only myself and himself. Only God is my witness.

He looked at me in the face.

He said ‘why are you killing Christians?’ “I wonder if you were the person how you will react. I hope what I was feeling inside did not betray my emotion. So, I told him that the problem between the cattle rearers and stagnant farmers I know is older than me not to talk of him (Trump).

I think I am a couple of years older than him. “With climate change and

population growth and the culture of the cattle rearers, if you have 50 cows and they eat grass, any route to your water point, they will follow it, it doesn't matter whose farm it was. “The First Republic set of leadership was the most responsible leadership we ever had. I asked the Minister of Agriculture to get a gazette of the early 60s, which delineated the cattle routes where they used meagre resources then to put earth dams, windmills even sanitary department. “So, any cattle rearer that allowed his cattle to go to somebody's farm is arrested, taken before the court, the farmer is called to submit his bill and if he can't pay, the cattle are sold.

But subsequent leaders, VVIPs (very very important persons); they encroached on the cattle routes, they took over the cattle rearing areas. “So, I tried and explained to him this has got nothing to do with ethnicity or religion. It is a cultural thing, which the respective leadership was failing the nation," he said.

In his own speech, the SGF, Mr. Boss Mustapha, said presentations from the retreat had shown that the team had the potential to transform the country and improve the living standard of the people.

According to him, independent assessment of the performance of mandates assigned to ministers from inception reveals five major issues. “The need to review and reprioritise the interventions in the ministerial mandates to meet the new emerging socio-economic environment and deliver on presidential priorities.

"The need for Key Performance Indicators and annual targets that smartly define the success of interventions in each priority area for improved performance assessment going forward.

"The need for inter-agency collaboration to drive delivery and synergy among implementing MDAs. "The need to accelerate the

implementation of the Economic Sustainability Plan in order to respond to the challenges associated with the COVID-19 pandemic; and "Adequacy and timeliness of fund releases to execute projects and programmes of the ministerial mandates," he added.

Mustapha stated that the retreat had established the necessity for ministers and agencies under them to collaborate with one another "to strengthen interagency collaboration to drive delivery and synergy among implementing MDAs." He said his office would activate the delivery unit spoken about by the president "to ensure regular interface with ministers and ensure bilateral engagements are sustained between the desk officers and technical teams of MDAs on key performance indicators (KPIs) for tracking and selection of priority initiatives to deliver the probable pathway to achieving the nine priority areas."

Vice President Yemi Osinbajo also said the outbreak of the COVID-19 pandemic had not only worsened poverty in the country, but had also distorted the economy and increased the level of hardship among Nigerians.

He reiterated the president's order that ministers and heads of agencies should implement the N2.3 trillion stimulus package meant to cushion the effect of the economic crisis on the people, noting that the administration does not have the luxury of time.

According to a statement by his media aide, Mr. Laolu Akande, Osinbajo said: "We are already in day 67 since the plan.

Nothing is going to happen by magic, we have to simply do this stuff. “We have to ensure that we have the money and ensure that day by day, we are measuring our achievements and trying to ensure that we do the things that we need to do. And we simply are not favoured by time, every single day the poverty situation and the economic distortions deepen.�

on the Governor of the Central Bank of Nigeria like that which obtains for state governors. “Rather, this provision protects the federal government, CBN and their respective officials against adverse claims for actions or omission in exercise of powers in good faith under BOFIA and other specified statutes including the Central Bank of Nigeria Act and regulations made thereunder.�

It said the importance of the said provision was to set a threshold against which suits against public officers must be filtered, such that for a suit to be maintainable it must scale that threshold by proving bad faith on the part of the pubic officer.

It insisted that it is not a bar against legal action.

The apex bank added: “Indeed, a review of the legislative history of BOFIA will readily show that the said provision also appeared as Section 49(1) of the then BOFIA of 1991.

Further diggings also readily show that the same law is employed in other legislations including the extant: Central Bank of Nigeria Act 2007 (Section 52); the NDIC Act 2006 (Section 55) and the Investments and Securities Act 2007(Section 302). “A similar provision is in the AMCON (Amendment) Act 2020, as it had been noticed that debtors and the like simply rush to court, obtain injunctions and stop orderly resolution of cases and proper implementation of the law. “The false alarm raised by the Nigerian Economic Summit Group raises serious credibility questions on the actions of the

group, as its comments, which have been circulated across the globe, significantly harmed the credibility of the Governor and CBN as an institution.�

It also expressed disappointment about the position of NESG on the federal government’s decision to close its land border.

CBN REBUKES NESG, SAYS INTERVENTIONS AIMED AT STABILISING ECONOMY that the impact of COVID-19 on countries across the world resulted in a significant downturn in the global economy.

Consequently, countries including Nigeria were forced to impose lockdown measures in order to contain the spread of the pandemic.

This, it explained, resulted in depressed economic activity in the first half of the year.

The apex bank said: “In response to these unfortunate events across the globe, central banks embarked on measures aimed at stabilising their respective economies by reducing lending rates, which declined to negative territory in several advanced economies, in addition to increasing the scale of their asset purchase programmes. “Indeed, after reducing its Federal Funds rate to zero per cent, the US Federal Reserve Bank implemented a huge securities purchase programme, which included the purchase of corporate bonds (including those below investment grades). “The Reserve Bank also provided credit facilities to non-bank institutions which included money market funds and corporations. The balance sheet of the US Federal Reserve in support of these activities increased by over $3 trillion, while the European Central Bank expanded its balance sheet by over $1 trillion.�

For Nigeria, it pointed out that the impact of the lockdown on economic activities resulted in over 60 per cent reduction in revenue due to the federation account, a significant drop in foreign currency inflows, which

led to downward adjustments in the naira/dollar exchange rate and a rise in inflation due to the exchange rate pass-through effect of imported inflation.

Therefore, the bank noted that it, like other central banks across the world, had to embark on extraordinary measures in order to stabilise the economy from an extraordinary shock, by taking steps to increase the flow of credit to critical sectors of the economy, in order to enable faster recovery of the economy.

In addition, it stated, the measures taken were also intended to prevent the economic crisis from spilling into a major financial crisis.

Some of these, it listed to include a one-year extension of a moratorium on principal repayments for CBN intervention facilities; strengthening of the loan to deposit ratio policy, which it stated resulted in a significant rise in loans provided by financial institutions to banking customers; the creation of an N50 billion target credit facility for affected households and small and medium enterprises through the NIRSAL Microfinance Bank; among others. “Analysts expected GDP growth to decline by 7.4 per cent but the impact of the measures by the monetary and fiscal authorities helped to reduce this decline to 6.1 per cent. “This decline was less severe than the decline experienced in other economies such as the United States, South Africa, and India which saw significant declines in growth by 32 per cent, 52 per cent and 23 per cent respectively.

“We do expect that with the phase-out of the lockdown measures, GDP growth in the third quarter will be much better than that of the second quarter, due to the impact of the measures being implemented by the monetary and fiscal authorities. “CBN also feels compelled to let Nigerians know that in spite of the cordial and open relations between both organisations, NESG could have raised its allegations directly with us but never did,� it said.

On its development finance activities, the bank said it was comforted by NESG’s “reluctant admission that many central banks around the world are also engaging in similar actions.�

According to it, “CBN engaged in development finance in order to address the credit needs of the sectors critical to improving livelihoods, reducing poverty, and promoting inclusive growth. “These goals have become doubly important in light of the significant shocks to the economy following the ongoing COVID-19 pandemic. In pursuit of transparency, CBN usually publishes disbursements made under these activities in our Economic Reports. “Although the bourgeoisies atop NESG may not feel the impact of the bank’s development finance activities, many ordinary Nigerians, including smallholder farmers, households, and medium-scale entrepreneurs across the country know better. “As NESG may be aware, as a result of the COVID-19 pandemic, Vietnam, Cambodia, India and Thailand placed export restrictions on the exports of

critical food items, including rice and eggs. “With these disruptions, the Nigerian economy could have faced a major food crisis, but for the government’s intervention programmes in the agriculture sector.�

Furthermore, it stated that by alluding to the fact that money could not address constraints in the agriculture sector, “NESG failed to realise that access to credit is listed among the three major challenges faced by farmers and businesses in Nigeria.�

It also faulted NESG’s allegation that CBN’s lending process was devoid of a proper framework, saying recipients of intervention funds from CBN go through an expansive due diligence process through participating financial institutions (PFI), following which an additional assessment process is embarked upon by CBN before disbursements were made.

Reacting to NESG’s comment on the revisions to BOFIA Act, the bank described the group’s position as “total ignorance or malicious intent on the part of NESG.�

It explained: “First, the provision they refer to as being currently conceived as part of the new BOFIA already exists as Section 53 in the old Act, which is now Section 51 in the amended Act passed by the National Assembly. “The current bill has not proposed any changes to that section at all. Second, contrary to their misleading anxiety and associated reportage, the provision of Section 51 does not purport to confer immunity

With respect to foreign exchange, the bank explained Continued on page 10

TOP GAINERS NGN NGN % HONEYWELL 0.04 0.94 4.4 TRANSCORP 0.02 0.60 3.4 WAPIC 0.01 0.34 3.0 CAP PLC 0.45 17.45 2.6 NIGBREW 1.00 41.00 2.5 TOP LOSERS NGN % ARBICO 0.11 1.03 9.6 ROYALEXCH 0.01 0.30 9.0 GTBANK 1.60 24.30 6.1 JAPAUL 0.01 0.20 4.7 UNIONBANK 0.20 4.90 3.9 HPE Nestle Nig Plc â‚Ś1,175.00 Volume: 251.963 million shares Value: N2.044 billion Deals: 4,185 As at yesterday 8/9/2020 See details on Page 39

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WEDNESDAY, Î Ëœ ͺ͸ͺ͸ Ëž T H I S D AY

NEWS CBN REBUKES NESG, SAYS INTERVENTIONS AIMED AT STABILISING ECONOMY that CBN operates two windows: wholesale and retail.

According to it, in the wholesale window, banks are allocated forex weekly, which is meant to be allocated to their customers at their discretion, reflecting customer size and distributive efficiency, for final sale to parents, paying school fees, patients settling medical bills abroad, SME traders importing small-scale inputs and raw materials, and general travelers for business and personal trips. “CBN also allocates a certain amount of forex to licensed BDCs per week, who resell to small-scale users. In both categories, CBN does not know the final buyers of this forex. “In the retail window, banks submit a detailed list of applicants who are then allocated forex based on availability. Given that these submissions are first scrutinised by the banks and are accompanied by the provision of significant documentation, we do not understand the extra transparency being called for by NESG,� it added.

NESG Urges Buhari to Reject

Bill Amending BOFIA Earlier in the day, the Nigerian Economic Summit Group (NESG) had requested the president to withhold assent to the repealed and re-enacted Bank and Other Financial Institutions Act (BOFIA) 2020, recently passed by the National Assembly.

NESG said the bill contains certain provisions that breached the constitution, and also confers immunity on officials of the Central Bank of Nigeria (CBN) and exempts actions

by CBN from judicial review.

NESG, in a 15-point statement issued yesterday and jointly signed by its Chairman, Mr. Asue Ighodalo, and the Chief Executive Officer, Mr. ‘Laoye Jaiyeola, said those provisions were draconian, totalitarian and inimical to the development of a stable and transparently regulated financial sector. “NESG has expressed severe concerns about certain provisions of the ‘repealed and re-enacted’ Bank and Other Financial Institutions Act 2020; recently passed by both houses of the National Assembly and in the process of being transmitted to the president

for assent. The bill contains certain provisions, which breach the provisions of the Nigerian constitution confers immunity on CBN officials and exempts actions by CBN from judicial review. “These are draconian, totalitarian and inimical to the development of a stable and transparently regulated financial sector. We respectfully request that the president should please withhold his assent until the bill is properly reviewed, amended and is made fit for purpose. “We also most respectfully request that our legislative houses should subject all bills, in particular, such crucial bills, to the most efficient scrutiny necessary to assure compliance with the Nigerian constitution, transparency, good governance and the best interest of the people of Nigeria,� NESG said.

The group expressed concern about some distortions in the liquidity and interest rate management of the country’s financial system, which it said has resulted in rated distortions causing grave disadvantage to domestic investors and pensioners.

It, however, warned that “this will occasion major disincentives to savings and

investments and thereby, be a disadvantage to the Nigerian pensioners and long-term savers. This is inimical to this administration’s concern for the elderly, the weak, the infirmed and those who had served this country meritoriously in their prime.�

While noting the evolving developmental roles of central banks around the world, especially as it concerns resource allocations, NESG stated that such roles must be undertaken in an open, transparent and fair manner.

It expressed concerns about how CBN has allegedly carried on the business of foreign exchange transactions, loan disbursements (intervention funds) and price fixings without appropriate policy clarity.

NESG said: “This can be subject to abuses, manipulations and significant market disruptions, reflective of a policy akin to crony capitalism. We, therefore, respectfully request the appropriate authorities to properly review this policy to restore credibility into our financial sector.�

NESG added that Nigeria needs to mobilise domestic savings and investments even

while seeking to attract foreign investment and called for carefulness in order for the country not to initiate policies that appear to discriminate against or discourage domestic savings and investors.

According to the group, policies making average Nigerians poorer should not be encouraged.

NESG commended the efforts of the federal government on infrastructural developments and advised that given the enormity of financial resources required to meet Nigeria's largely decayed infrastructural stock, many more options should be explored to attract private sector capital and involvement.

It added: "It must be stressed that our country needs to mobilise domestic savings and investments even as we seek to attract foreign investment and we should be careful not to initiate policies that appear to discriminate against or discourage domestic savings and investors. Policies making average Nigerians poorer by the day should not be encouraged."

NESG also called for the overhaul of the management of the federal government’s support for the agriculture

sector through CBN's Anchor Borrowers Programme and other related sectors in order to get more value for the investments the government is pouring into those sectors.

It noted that since the inception of the Buhari administration, “agriculture and the need to ensure zero hunger for Nigerians has received considerable attention. However, despite the budgetary allocations and huge sums of money disbursed

by CBN through the Anchor Borrowers’ Programme, a huge gap remains in meeting the food requirements, which has resulted in increasing hunger among the Nigerian populace.�

The statement also touched on crucial economic realities facing the country currently like the border closure, the recently enacted Companies and Allied Matters Act (CAMA) 2020, the deregulating of the fuel and electricity prices, growing public borrowing to fund the budget deficit and the need for Nigeria to ratify the African Continental Free Trade Area’s (AfCFTA) agreement in order to enable Nigeria to be on the negotiating table of the continental’s free trade protocols and principles amongst other issues.

potentially deep recession and Nigerians are facing increasing hardships, with unemployment rising to over 27 per cent as many factories are facing total closure.�

The statement said the special adviser informed them that “over the past five years, subsidy on electricity has skyrocketed from N165 billion in 2015 to over N500 billion in 2019, superseding the federal government’s budgetary allocations to health and education combined.

These figures were also confirmed from the recent Senate Committee on Power’s Investigative hearing in June 2020.�

OPSN said it agreed with the government that the subsidy situation is unsustainable, adding that “if allowed to continue, the electricity industry will collapse as the government no longer has the fiscal capacity to sustain the increasing subsidy level and at the same time finance the capital investment necessary to extend electricity supply to the over 90 million Nigerians who lack access to electricity.� “After extensive, frank and open discussions, the meeting agreed as follows: “The subsidy situation is simply unsustainable. And if allowed to continue, the electricity industry will collapse as the government no longer has the fiscal capacity to sustain the increasing subsidy level and at the same time finance the capital investment necessary to extend electricity supply to the over 90 million Nigerians who lack access to electricity. “It is, therefore, necessary to create conditions that will attract private investment in the industry for which costreflective tariff is inevitable. “It is however imperative that the confidence of electricity consumers must be inspired and they must be assured that the new tariff regime will lead to significant and sustained improvement in the quantity and quality of electricity supply. “The new tariff structure must be transparent, charges must be fair and consumers must be able to verify that they

are paying only for what they consume. “Government must compel distribution companies(DISCOS) to massively invest in a metering program that will totally eliminate estimated billing which they (DISCOS) routinely resort to, to extort money from consumers to boost their revenue and make up for their chronic inefficiencies.

The metering programme through the central bank, to fund locally made meter manufacturing bulk purchase should be accelerated.

"Measures that should ease the burden of industrial consumers must be implemented even if as temporary arrangements.

This is to enable them to sustain operations and remain competitive without resorting to laying off employees. Such measures as the Eligible Customer Scheme, which has been approved by NERC, but has been blocked by distribution companies must be allowed to come into play without any further delay,� the statement explained.

OPSN specifically requested from the government the implementation of the Eligible Customer Scheme (ECS), which has been approved by Nigeria Electricity Regulation Commission (NERC) but has been blocked by Distribution Companies (DISCOs) and the review of the border closure that has remained closed since August 2019.

OPSN urged the federal government to prevail on the Central Bank of Nigeria (CBN) to review its recent decision that banned banks from approving Form M that is routed through the third party for payments of imports.

It also requested the government to help to “resolve the current dispute between the Manufacturers Association of Nigeria (MAN) and the DISCOs, which has resulted in never-ending litigation holding back the utilisation of over 5000MW of stranded electricity that is not deliverable to consumers. “Government must prevail on NERC to be more firm and

fair in dealing with stakeholders in the electricity supply market,� OPSN said.

It stated that it would continue to engage the government through the presidency, the Ministry of Power, NERC and other key agencies to continue deliberations and provide feedback on the monitoring of the implementation of the Service-Based Tariff structure.

PPPRA GOES FULL BLAST, DUMPS PETROL PRICE FIXING He added that the job of the agency henceforth is to police the marketers and prevent profiteering at the expense of consumers.

He, however, stated that it would continue to monitor the operators in the downstream petroleum sector to ensure that marketers do not abuse the freedom that has come with the deregulation of the pump price of petrol.

Shidok said one of the reasons Nigerians are not experiencing the real impact of deregulation yet is because of the foreign exchange challenges being faced by marketers who are now free to import the product.

According to him, the shortage of forex, which is already being sorted out by the Central Bank of Nigeria (CBN), is making the Petroleum Products Marketing Company (PPMC), look like the sole marketer for now.

He explained: “The government pronouncement that the sector is deregulated means that prices strictly obey the forces of demand and supply. You could have a regulator that will always stand as a watchdog to see how these forces play out and how the interest of both operators and consumers will be protected. “In this situation, in a deregulated regime, you don’t expect that, because it’s different from price-fixing where we have a clear say in the final price you see in the market. It is the market that is operating and it’s based on bargain power. It is based on where you source your products. “For PPMC, it is a marketer; it also sells products. It also carries out analysis to say, this is my own price because I sourced for this product and it’s that mechanism they have adopted.

It is based on their costs. It’s like bottled water which is produced in a deregulated market. You look at how much you produced it and what price you can sell.�

Shidok said PPPRA would henceforth restrict itself to ensuring that operators in the downstream play fairly

and consumers of petrol are not short-changed. “In a truly deregulated regime, there’s nothing like price band because you are free to source your product.

All you need to do is look at how much you spent. We will ensure that all stakeholders play fairly. “PPPRA remains the regulator of the downstream and will keep monitoring operators. The difference now is that we do not indicate or fix prices that you will sell because if you do that, it is price-fixing. We will intervene when somebody is going beyond and profiteering,� he added.

He said there’s a code of conduct that is applicable to all operators, adding that even in developed countries where they have fully developed a system of deregulation, there are always regulators.

Shidok said the confusion on the role of PPPRA stemmed from the fact that this is a transition period, noting that soon Nigerians would enjoy the choices that accrue from a liberalised market, even with PPMC as a marketer like some private operators. “The only difference we are seeing now is that PPMC still remains the only source of product supply and I think for other marketers, it’s because of the challenge of forex that’s why they are not importing given the role forex plays in the sourcing of petroleum products. “The product we are talking about is PMS (petrol). Other products have been deregulated a long time ago; only PMS. PPMC is a marketer like OANDO. For PPPRA, we know the trend in the market and we intervene when the marketer is going out of hands.

According to him, “PPMC will have to follow the rules and be treated like a marketer.

In a deregulated environment, PPMC is a trader. PPMC is into the business too. We are facing a difficult situation because foreign exchange is not allowing other marketers to come in yet. That’s why the gains are not seen yet.

“If you are not seeing other marketers come in, it’s because they are still understudying the market and due to the exchange rate. This year has been a difficult year not just in Nigeria. “When you are not earning foreign exchange as you should, there will be so much pressure on the little that you have and that’s what we are seeing. It will not remain like that forever.

The exchange rate will still fall.

There’s no more price band or fixing.�

Organised Private Sector Backs FG on Electricity Subsidy Removal Meanwhile, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture’s (NACCIMA), Manufacturers Association of Nigeria (MAN), Nigeria Employers' Consultative Association (NECA), Nigerian Association of Small and Medium Scale Enterprises (NASME), and Nigerian Association of Small Scale Industrialists (NASSI), under the aegis of Organised Private Sector of Nigeria (OPSN), have backed the removal of subsidy on electricity.

OPSN, however, asked the federal government to implement measures to ameliorate the impact of the recent increase in electricity tariffs in order to reduce its burden on industrial consumers and prevent the retrenchment of workers.

A statement issued by NACCIMA’s Research, Statistics and Development Unit, on behalf of OPSN, said the members met with the presidency on September 4, through the Special Adviser on Infrastructure to President Muhammadu Buhari, and resolved to back the removal of subsidy.

OPSN said the meeting attended by NACCIMA, MAN, NECA, NASME and NASSI, was held for the government to justify “the necessity for this tariff increase at a time when the economy is facing a

Petrol Price Shouldn’t Be High under Deregulation, Says Atiku Atiku yesterday faulted the position of the federal government that the deregulation of the price of petrol is the main reason why the pump price of fuel increased.

He said the increase is not justified when compared with the prices of petrol in Europe and the United States.

He explained that the price of petrol is currently down when compared with the price in 2019.

In his verified tweeter handle, Atiku said: "I am a businessman. I look at things from an economic perspective.

Questions beg answers.

"The price of crude is down from where it was in 2019. In the US and Europe, fuel prices are far lower than they were in 2019. If we truly deregulated, shouldn’t fuel price have dropped?�

The former vice president had earlier condemned the increase, describing it as unjustifiable.

He also said the time for the increase was wrong, as the government is supposed to provide a palliative for the people to cushion the effects of COVID-19.

"I reject the increased electricity tariffs. Coming out of the lockdown, Nigerians need a stimulus, not an impetuous disregard for the challenges they face,� he said, adding: "Many Nigerians have not earned an income for months, due to no fault of theirs. This increase is ill-timed and ill-advised."

WEDNESDAY SEPTEMBER 9, 2020 • T H I S D AY

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T H I S D AY Ëž Ëœ ÍˇËœ 2020

COMMENT

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

TOWARDS RESTRUCTURING NIGERIA (2) Sonnie Ekwowusi canvasses fiscal federalism

T

he Senate Ad-Hoc Committee on the Review of the 1999 Constitution calls for memorandum on the following subject-matters - gender equality; federal structure and power devolution; Local Government/Local Government Autonomy; Public Revenue; Fiscal Federation; Public Revenue/ Fiscal Federal and Revenue Allocation; Nigeria Police and Nigerian Security Architecture; Comprehensive Judicial Reforms; Electoral Reforms; Socio-Economic and cultural rights; Strengthening the Independence of oversight institutions and agencies; Residency and Indigene problem; Immunity; The National Assembly; State Creation and other matters capable of promoting good governance in Nigeria. With the exception of “gender equality�, all the other subject matters listed by the Senate for consideration for amendment, in my view, are completely in order.

Considering that section 42(1) of the 1999 Constitution has amply provided for the principle of non-discrimination and for equality between male and female in Nigeria, there is no need for another provision on “gender equality�. “Gender equality� is a red herring. The appropriate word is “sex� not “gender�.

This is why section 42 (1) of the Constitution talks about “sex� not “gender�. “Sex� means “male� or “female� whereas “gender� expansively connotes homosexuality, lesbianism, transgenderism, bisexuality, intersexuality, queer sexuality, abortion, non-binarism, animalism and bestiality. Section 42 (1) of the 1999 Constitution stipulates that no citizen of Nigeria should be discriminated against on ground of his or her sex, ethnic group, place of origin, religion or political opinion. So, section 42 (1) protects all women and men from discrimination on ground of sex. This is all we need. So, no need for “gender equality�. Let me quickly say that many people and many governments do not understand the real meaning of the phrase, �gender equality�. The phrase may sound laudable and palatable to the ear of the unwary and undiscerning but the phrase is a Trojan horse used to deceptively smuggle in LGBT rights into a country’s Constitution as in the case of South Africa. I have attended many United Nations negotiations in New York. My experience is that whenever the phrase “gender equality� appears in any United Nations policy document during negotiations in New York, the African Group (with the exception of South Africa which has legalized gay marriage and gay practices) always vehemently opposes the inclusion of the phrase. Why? Because the generic phrase “gender equality� is not given a biological construct (that is, it does not mean two sexes - “male� and “female�- as some of us think it means: it is

TO REDUCE COST OF GOVERNANCE, NIGERIA SHOULD HAVE ONLY A UNICAMERAL-FEDERAL LEGISLATURE

now given an expansive social construct to include aberrations such as homosexualism, lesbianism, etc. Let me shock you a bit: whenever the generic term “gender� or “gender�-based appears in any United Nations policy document it is automatically interpreted as LGBT right or transgender right. The following terms are given the corresponding interpretations in United Nations policy documents: “gender analysis� means LGBT analysis; “gender sensitive� means LGBT sensitive; “gender–based violence� means LGBT-based violence; “based on gender� means based on LGBT status; “gender sensitive schools� means LGBT-sensitive schools; “gender neutrality� means neither male nor female (In fact, many in the U.S. and Europe have gone to court to declare that they are “gender neutral� meaning that they are neither male nor female. These “gender neutral� people or non-binary people crusade for the abolition of a separate “Male Toilet� for males and a separate “Female Toilet� for females in public places such as the airports. They want a “gender-neutral� toilets for both male and female and transgender people.

South Africa is the first and only African country, and, in fact, the fifth country in the world to legalize LGBT rights.

Perusing through the Constitution of South Africa I discovered to my chagrin that South Africa operates a non-sexist Constitution with a non-sexist language, meaning that South Africa does not recognize any difference or prejudice between male and female. The most significant provisions of the constitution relating to “gender equality� are found in the Bill of Rights, particularly the section on “equality.� This section contains a general commitment to equality before the law and equal protection of the law, and states that “the state may not unfairly discriminate directly or indirectly against anyone on one or more grounds, including “gender�. Now, does Nigerian want to be a gay country like South Africa? I hope not. I have painstakingly presented the forgoing to assist our governments and many gullible people who are often deceived into believing that the phrase “gender equality� means the radical equality between a man and a woman. It is not. LGTB has been outlawed in Nigeria by virtue of the Same Sex (Marriage) Prohibition Act 2014. Therefore an inclusion of “gender equality� in our constitution, no matter how mildly couched, will entail repealing the Same-Sex (Marriage) Prohibition Act 2014 (because the Constitution is the grundnorm of Nigeria), and by extension, legalizing LGTB in Nigeria. So, away with “gender equality�. It is high time Nigeria stopped imbibing barbaric Western lifestyles that are antithetical to Nigerian cultural heritage.

WHO IS AFRAID OF THE NEW CAMA? The new CAMA is a good piece of legislation, argues Yusuph Olaniyonu

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ince the signing into law of the new Company and Allied Matters Act (CAMA) by President Muhammadu Buhari on August 7, 2020, it has generated a heated controversy, particularly those stoked by religious groups. The brick-bats have been on the provision of Section 839 sub sections 1 and 2 of the new law which deals with the power of the Registrar-General of the Corporate Affairs Commission (CAC) and the supervising minister to strictly regulate religious bodies and non-governmental organisations.

The law also empowers the RegistrarGeneral to suspend trustees of not-for-profit organisation and appoint an interim manager or managers to co-ordinate its affairs where it reasonably believes that there had been any misconduct or mismanagement, or where the affairs of the association are being run fraudulently or where it is necessary or desirable for the purpose of public interest. The reports and debates one sees in the media nowadays are as if this new CAMA is the worst legislation to have come out of Nigeria. This controversy being created over the provision of the law should not be allowed to rubbish the other 869 sections.

We should not make another mistake of throwing away the baby with the bath water.

This present CAMA is another bold attempt to introduce revolutionary, radical and game changing laws, policies and programmes that will largely advance the ease of doing business, unleash the potential of our youth and create economic progress across board.

The idea of reforming the law that governs the registration, operation and regulation of business which the new CAMA seeks to achieve is an idea which, to paraphrase Victor Hugo, has long been overdue. It is the reason why the Eighth Senate which commenced the process of amending the 1990 law decided to focus on a comprehensive review of all laws that could impact on the economy of the nation.

It is obvious that working on the CAMA was an intimidating task. It remains a law with intense technicality and deep provisions. The current law is spread across 604 pages and has 870 sections. The amendment process had presented intimidating obstacles to committees of past National Assembly sessions due to the volume of work required,

both in terms of technical work needed and the intense legislative process.

To deal with these encumbrances was the reason why the Eighth Senate created the National Assembly Business Environment Roundtable (NASSBER), a forum for constant interaction, engagement and co-operation between the legislature, private sector, academia, professionals like the Nigerian Bar Association (NBA), development partners and even, Civil Society Organisations (CSOs).

This forum helped to look at about 54 laws relating to ease of doing business, creating investment opportunities and making Nigeria a preferred destination for investors coming to Africa. Though some of the bills resulting from these efforts did not get signed into law, the ones that scaled through like the Bankruptcy and Insolvency Act 2011 (Repeal and Re-enactment) 2015, Secured Transactions in Movable Assets Act, Credit Bureau Reporting Act and Federal Competitions and Consumer Protection Commission Act have helped in repositioning the economy and opening new opportunities for creative youngsters who dared to join the band of small and medium entrepreneurs in the country.

The reason why the new CAMA should be celebrated as a beacon of hope for Nigeria is the numerous benefits it provides for present and future small and medium scale entrepreneurs. The law seeks to liberalize the environment and makes it easier for them to begin and gradually grow. It eases the burden of starting businesses for these young people.

For example, there are 10 easily identifiable take-away for the youths. The first is the amendment to Section 18 (2) to make provision for single member companies. That means a young Nigerian can, on his own, incorporate a company.

Second take away is that if two or more young people decide to form a company which will not be subjected to the rigour of a limited liability company, they now have the option of staying as partners but yet enjoy the advantages of a limited liability company.

The provision for limited partnership or what can be referred to as limited liability partnership creates a new legal entity which will be body corporate and exist separate from the partners, yet it remains a partnership.

This model combines the flexibility and tax status of partnership with limited liability for

its members. The process of incorporation is less stringent and formal. Also, the method of dissolution is less procedural as compared to a limited liability company.

Another take away for our youth in the new CAMA is that application for reservation of a name of the potential company can be done through electronic means. Thus, the mobile phone, a laptop or iPad becomes the tool of application instead of running around with files bursting with papers. This advantage was conferred with the Amendment to Section 32 (1). The fourth take-away is that these young men and women willing to start a company do not need to pay huge sum of money to engage a lawyer to file the application for incorporation of a company on their behalf. That is the import of the amendment to Section 18 (2).

In the same manner, small companies are exempted from the mandatory requirement to appoint a company secretary. That is what was achieved with the amendment of Section 293 of the old law which has now been replaced with the provision of Section 330. The new section states that “Except in the case of a small company, every public company shall have a secretary�.

Also, the amendment of Section 213 has excluded small and single member companies from the requirement to hold annual general meetings. Section 237 of the new law states that “except in the case of a small company and/or any company having a single shareholder, every company shall in each year hold a general meeting as its annual general meeting�. This is another huge burden off the neck of youths running a company.

To further strengthen the capital base of companies, Section 27 (2) has been amended to increase the minimum threshold of authorised share capital of individual companies from N10,000 to N100,000 while that of public companies has been increased from N500,000 to N2 million.

Again, the new CAMA has introduced a process for the administration and rescue of near insolvent entities. This new process enables such businesses to keep running or operating under the supervision of an administrator for a period of 12 months. The company itself as an entity, one of its directors or creditor can apply for the appointment of an administrator. This provision is aimed at

saving the jobs in a company, even when the company is battling with insolvency issues.

There is also the provision in Section 94 which amends Section 119 of the old law which is about beneficiary ownership disclosure. This provision makes it possible for anybody who wishes to know who and who have beneficial interest in a company to easily access the information. This provision has significant impact on the anti-graft battle as well as the corporate integrity and practices by companies and individuals. Public officials and individuals who use their companies as front to defraud government or engage in unethical practices will no longer be having a field day. Members of the public can easily lift the veil to identify the individuals behind the various companies.

The tenth take away for youths is contained in the amendment to Section 115 to make shares a transferable personal property. In the amendment to Section 25 (5), the new CAMA has expunged the need for companies limited by guarantee to get approval of the Attorney General of the Federation (AGF) for their memorandum of understanding. What is now required is to get the application advertised in three national newspapers. This is to allow members of the public who have objections to the objects to file their complaints with the Corporate Affairs Commission (CAC).

In the same manner, Section 26 (12) was amended by Section 26 (18) to increase the liability of members of a company limited by guarantee from N10, 000 to N100,000. With the new amendment to Section 121 of the old law through a new provision in Section 147, it is now unlawful for a company to issue shares at a discount.

These benefits of the CAMA are expected to be utilized alongside the ones embedded in the Secured Transactions law which established a National Collateral Registry that will free up new stream of opportunities for small and medium entrepreneurs to access capital using their flexible assets like cars, machinery, cell phones and household items directed.

Also, the Federal Competition and Consumer Protection discouraged the growth of monopolies and deployment of sharp practices to stifle competition. These are laws that can open up the country to new investment, fresh energy, bright ideas, quality products and services.

Olaniyonu wrote from Abuja

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T H I S D AY Ëž Ëœ ÍˇËœ 2020

EDITORIAL

BUHARI’S NINE-POINT AGENDA It is late to reinvent the wheel of political promises

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n welcoming some new ambassadors to Nigeria recently, President Muhammadu Buhari listed nine policy issues that will engage his attention for the rest of his administration. The president said he will channel his energy and resources towards growing the economy, fighting the daunting challenge of poverty, improving access to quality education, healthcare, national security in addition to the fight against graft.

As expected, the curious agenda has triggered many questions. What went wrong with the threepronged policy directions of securing the nation, resuscitating the economy and fighting corruption that the administration had embarked upon in the last five years? Whatever happened to the agenda which the president committed to on re-election?

Of what use are pledges that are piled on each other? Indeed, the main opposition, the Peoples Democratic Party (PDP) has harshly dismissed the new policy focus as admission THE CHALLENGE OF of failure, saying THIS MOMENT IS TO five years into the RE-ENGINEER THE administration, ADMINISTRATION the president is still in campaign TO ASSUME A MORE mood “reeling out PROACTIVE AND TARGETempty promises�.

DRIVEN GOVERNANCE But the Presidency, STYLE TO ACHIEVE THE in response, said that the key ORIGINAL AGENDA themes of an election campaign were not the same as the priorities that were set, nor policies that are required to be developed and implemented. It says that governance is dynamic, just like a society as “no government elected for two terms could possibly justify continuing only to deliver the agenda it set in the first election campaign.�

The questions, however, persist: why set new agenda when the earlier ones are yet to be fulfilled? And why now when the administration is, for all practical purposes, about to begin winding down? The economy is in tatters, woefully mismanaged as Nigerians get angrier by the day.

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EDO POLL: OBA’S PEACE PARLEY

fy It is just fitting that the peace parley between Godwin Obaseki, who is seeking re-election as the governor of Edo State under the standard of the PDP, and Osagie Ize-Iyamu, his opponent in the forthcoming gubernatorial poll who is running under the APC banner, was called at the instance of the Benin Palace. Recall that the undercurrent of political counter-force that threatened to wash Obaseki away from Government House was not, in reality, due to Adams Oshiomole, that wily weasel of the APC, but it originated from a moneyman who has clout: Hosa Wells Okunbo.

If Godwin Obaseki has been “sweating� these past couple of months, it is because of the fact that Okunbo was poised to use his wide reach to impact the outcome of the forthcoming poll.

Obaseki and the PDP knew about the intrigues but they seethed in silence and kept a shrewd watch. Truly, Obaseki was both embittered and desperate. Governors Abdullahi Ganduje and Willie Obiano of Kano and Anambra States have only recently demonstrated the reach of the enormous powers that governors can wield if they feel “embarrassed� or “threatened.� Actually, there was no point for Obaseki to “sweat� for a second term when the likes of Yahaya Bello of Kogi State, Abdullahi Ganduje of Kano State and a host of others who had lost the favour of

Millions of people are poorer today than five years ago when the government assumed office. The unemployment rate, officially put at 27 per cent, is probably nearer 50 per cent. More than half of the country’s young population have no jobs.

The inflation rate is prohibitive in an era where hundreds of millions are idle. Besides, the nation’s currency is hardly worth the paper on which it is printed. Agriculture, despite all the noise, is still in primitive stage. Food is expensive.

The scourge of corruption is still raging as the anti-graft war, one of the major planks that brought the government to power, is still feebly fought. Nothing argues in favour of this more than the official response to the recent scandal rocking the Niger Delta Development Commission (NDDC) where billions of Naira meant for the development of a region are pocketed by individuals, and with no consequences. But even worse is the deteriorating security situation in the country.

The series of assault against civilians across the country are unprecedented. No one is safe and no time is sacred. The Boko Haram insurgency, despite official pronouncements to the contrary, is alive and consuming dozens of lives on a daily basis.

The fury of the assault in Borno State is something else. Some days over 100 bodies are added to the pile. Such violence breeds implacable hatred to an administration that proclaims from roof tops that everything is well. This week, besides dropping food from the sky to some civilians trapped in Borno, the authorities are beefing up security in the federal capital, Abuja against insurgent attacks.

So, we ask: is it not better to tweak the existing formula than to impose new ones? The president has about 30 months left in office. Of this, the last 12 months will go into succession politics with minimal governance. In effect there are only 18 months to achieve these revised objectives.

The challenge of this moment is to re-engineer the administration to assume a more proactive and target- driven governance style to achieve the original agenda.

It is too late in the day to reinvent the wheel of political promises.

their electorate were returned by intrigues from “high above.� Even though Obaseki does not presently enjoy the privilege of this “intrigue� it should just be a cinch for him to clinch a second term, as per the norm. Now, isn’t Godwin a Bini son? Why should he seek assurance in the Esan-dominated Edo Central? It was clear that Godwin Obaseki was not going to accept defeat lightly. See, things are changing and it does not look like any sitting governor will just lie low to be trounced. By hosting that peace parley, the wind has really been taken away from the political sail of Ize-Iyamu because the understanding of any such “peace� is to allow “normalcy� reigns. “Normalisation� is the way dem dey do am elsewhere. Meaning? Everyone deserves a second term. After all, Goddy no kill anybody and e no sleep with person wife. So? He supposed to get second term. I completed this piece on the night of Sunday the 6th September 2020. Little did I know that on this same Sunday in faraway Benin Mr. Okunbo dropped his bombshell about committing his “last kobo� to enthroning Ize-Iyamu as governor of Edo State.

It would appear that “higher forces� are egging Okunbo on.

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

THE TRUTH IS OUT THERE - SOMEWHERE

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hy have two Australian journalists, working in China, Bill Birtles and Mike Smith, suddenly gone to their Embassy and then quickly returned to Australia? Is it because another Australian journalist Cheng Lei, who works for an official Chinese media organization has been detained and held by authorities?

The Chinese government had wanted to speak to them, and this has not always been a positive experience for journalists there and in a number of countries around the world. Journalism has been under attack ranging from Trump’s “Fake News� and “Alternative Facts� through to the murder of Jamal Khashoggi but who should fear the truth?

The same concerns are being reported worldwide, or at least in countries that have a free press, and the concerns are the same. The facts should be reportable and then discussed honestly, openly and more importantly without fear of retribution. Retribution seems like an exaggeration, but people have died to tell the truth. ‘The truth is out there’ but can we be sure we are getting an accurate and complete news report? Keep fighting.

Dennis Fitzgerald, Melbourne, Australia

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WEDNESDAY SEPTEMBER 9, 2020 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY SEPTEMBER 9, 2020

MIDWEEKPOLITICS

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

How Maduka Will Transform Anambra Tony Amadi writes that Dr. Godwin Maduka, a Harvard University trained Medical Doctor and Pharmacist has shown capacity to develop rural communities into world class settlements, starting from his hometown in Orumba, Anambra State. He is one of the leading governorship aspirants on the platform of the Peoples Democratic Party

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arrived in Umuchukwu, stunned to disbelief at the height of philanthropy of a man who has transformed a small town of no visible consequence into a solid city of international quality.

Dr. Godwin Maduka built a hospital to look after his people’s healthcare and handed Trinity Hospital to the Catholic Church to run. He also built a Cathedral for the Catholic Church and another to the Anglican Communion. A monastery for nuns is also to his credit not to talk of building the Magistrate and High Court that is all built to world class.

But what is stunning definitely is the erection of a 17-storey edifice to house the Institute of Medical Reseach where traditional medicine is researched and transformed to suit the African health environment.

Umuchukwu’s housing sector includes housing for over hundreds of poor families, primary and secondary schools to carter for the education of his people. He equally built a market to show the extraordinary height of his phylantropism.

Maduka knows very well the depths of poverty when he was growing up in Nkerefi, the old name of the town before the people decided it be renamed Umuchukwu.

Maduka’s younger nephew, Kingsley, himself a medical doctor and architect kindly gave me a guided tour of Umuchukwu and the achievements of his big uncle. Dr Maduka’s wing of the sprawling estate is his own residence graced by an impressive ash coloured Rolls Royce vintage car.

You ain’t seen anything yet, Kingsley told me as he noticed my wonderment at the sight of the Rolls. He then took me behind the main home to a warehouse styled extension where his fleet of super cars were packed - two more Rolls Royces, one Bentley, a Range Rover, two high powered SUVs, a stretch limousine, two sports BMW, you name it, he has it.

As I went through the huge estate with several apartment buildings for resident consultants and visitors, what came to my mind was that Maduka’s government house would not need to buy official car for the incoming governor if he wins in 2021.

Now, how does the Harvard University educated medical surgeon and owner of six medical centers in Las Vegas, United States of America go about transforming of Anambra the way he did in his hometown, Umuchukwu.

He said, “My ambition is to transform Anambra into A super state.”

The medical expert said he is ready to transform Anambra into a super state and narrated the essentials of his manifesto for the good governance of Anambra State.

“I believe that there comes a time when we ought to have a new direction, so I have been watching my state and I have seen the progress they have made, and in some other areas there is need for improvement. That is why I decided to try my best to get involved with the governance of Anambra State.

“Of course, as you know in medicine, which is my career, we have to improve in that area. I think medical tourism has to be reversed. Our people shouldn’t have to be going to India, America or UK to get the health care they need. So that is one of the things that I need to make sure it’s done in my state. You don’t need to spend millions of naira and dollars - taking that money overseas - when we can have it at home. As you know I am also a pharmacist and being a pharmacist, I believe we can build factories that manufacture drugs so that people can stop importing fake drugs into the country.”

“I think we need to have mechanized agriculture. We also have to be able to help local farmers to be effective in in order to improve their agricultural yield. I am sure that we can make a difference in healthcare and agriculture. I have done some work in the past in education, religious tolerance,

Amadi roads and bridges as part of my philanthropic activities.”

How close are you to the grassroots and how much assistance and philanthropy have you done for the people of Anambra State?

He replied, “You may call it philanthropy but what we are doing is trying to improve the quality of life of the people. A lot of facilities were not available when we were growing up in Anambra. For instance, I was born in 1959. The war broke out around 1966 and lasted till 1970 and that led to our missing school for three to four years. I didn’t start school until I was 10 to 11 years old and I was very lucky to have finished school and ended up in the US where I read Chemistry, Pharmacy, and Medicine and started working thereafter. Now, the only time I have been absent from Anambra State, from Nigeria, was the first 11 years that I was in the classroom.

After that 11 or 12 years, I have been coming home every year. So there is nothing about home that I don’t know.

I was involved with the construction of

roads and doing other development oriented things at home and dealing with villagers.

So in terms of being close to the grassroots, of course I am one of them. I did the things that were needed to be done at home to make sure that lives are better for the grassroots people of Anambra State particularly in Orumba where I come from.

On the issue of zoning of political offices in Anambra, Maduka said, “It has been observed for close to 20 years that the Central Senatorial District has ruled for eight years; the North Senatorial District is just completing another eight years. Now it is time for the South but let me make it categorically clear we have to observe that zoning so that there will be peace at home. You cannot explain to somebody that it is time for the South to produce the governor and all of a sudden it becomes politics. You can’t have peace in the state that way. Now after we finish with the South then we can abandon this zoning system.

“It should be abundantly clear that the

It has been observed for close to 20 years that the Central Senatorial District has ruled for eight years; the North Senatorial District is just completing another eight years. Now it is time for the South but let me make it categorically clear we have to observe that zoning so that there will be peace at home. You cannot explain to somebody that it is time for the South to produce the governor and all of a sudden it becomes politics. You can’t have peace in the state that way. Now after we finish with the South then we can abandon this zoning system. It should be abundantly clear that the next governor must come from the South or the people of the southern senatorial zone will feel cheated

next governor must come from the South or the people of the southern senatorial zone will feel cheated. But I believe that even at that, we have been endowed with men and women that can actually win the governorship without it being zoned to the south. We have a lot of heavy weights down there. I happen to come from the south as well even though I am not running based on senatorial zoning. I am running on the fact that there are lots of things that need to be changed. We shouldn’t be lagging behind in development.

“First of all, most people know that I am a son of a native doctor, a herbalist, and that’s how I got this idea of becoming a medical doctor. During the rainy season, people get sick. I follow my father into the bush, get the roots, get the herbs, get the leaves, mix them together and cure people. We never had any doctors in that remote part of Nigeria.

These people cure anything from sexually transmitted diseases to malaria to different ailments. This area of work is called Pharmacognosy - the study of plants and roots for the purpose of medication. We did that in pharmacy school and that is the part I am still more interested in.

We still have some of the recipes at home.

“I really believe that Nigeria, just like Cuba, should develop some of these herbal drugs.

Whether it is found in the north, south or the west of the country, it is important to get all their remedies. We can always put it through the lab and check out the toxicity level and efficacy and start doing our own trials.

“In building that 17 floors, in future I hope it will help the World Health Organisation and other enterprises in the study of the tropical disease and tropical medicine for the purpose of treating different types of tropical diseases from typhoid, malaria and parasite infections.

“We keep using the western medications which might not work well with us back home. I think it’s about time we did studies in terms of trials of medication using our people at home for whom the medication is being developed. As for Nigerians in diaspora, I am a member of ANPA, that is, Association of Nigerian Physicians in the Americas, and some of them come home and do medical missions but I believe in time not too far, we will establish this international teaching method using that 17-storey building. It will house medical research, it will house the teaching of doctors, nurses, radiologists, the laboratory attendants, etc.

“It will house international health organizations of Africa. Prior to that, I have already built a hospital called TRINITAS that is already taking care of the local people at home. This one is mostly for research and fellowship training as well as specialist matters, whether it is in cancer and oncology, whether it is in infertility, whether it is in HIV/AIDS, now COVID-19.

“So upon completion of these 17 floors, that will be the hub of training our local people with different areas of medicine. what are you bringing to the table?

Maduka said that he is running on the platform of the Peoples Democratic Party (PDP) platform. “What I am bringing to the table is that for the 40 years I have been in the USA, and out of these 40 years, 30 years I have been at home doing one thing or the other, trying to improve people’s lives and I believe that I have something to offer the state. All the governors since Ngige, Peter Obi as well as Obiano, I have always been involved trying to do my best to help the government.

“And so I have watched them all these years and I realized that there is a lot I can add to what they have done and I have enumerated many areas that will need some improvement, in education, transport, women and youth empowerment and ICT.”

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T H I S D AY ˾ WEDNESDAY SEPTEMBER 9, 2020

POLITICS

From Banking to Politics, is Abiru on a Roller Coaster to Govern Lagos?

GOVERNANCE IN PHOTOS

Segun James writes that Senator Bola Tinubu, the political Kingmaker of Lagos may have set the stage for a power struggle between Governor Babajide Sanwo-Olu and Mr. Tokunbo Abiru who was recently affirmed as the candidate of the All Progressives Congress in the impending Lagos East Senatorial by-election

Abiru

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hen the Chief Executive Officer of a blue chip bank suddenly resigns from his position without warning, it raises an eyebrow. It is even more surprising when he emerges the senatorial candidate of a major political party like the All Progressives Congress (APC) in a competitive state like Lagos and a contest that many eminent gladiators had indicated interest. It becomes all too glaring that he is the choice of the political Kingmaker of Lagos.

That is the present circumstance of the immediate past Managing Director of Polaris Bank Limited, Mr. Tokunbo Abiru who is the APC candidate for the October 31 by-election into Lagos East Senatorial District seat.

Abiru, a former Lagos State Commissioner of Finance, was elected unopposed as the sole candidate. His candidature was affirmed by 111,551 party members who were delegates during the APC direct primary election said to have been conducted in all the 72 wards across the senatorial district.

The five local government areas in Lagos East Senatorial election where the primary elections took place are Kosofe, Ikorodu, Somolu, Ibeju-Lekki and Epe. Declaring Abiru as the winner of the Lagos East Senatorial primary at Somolu Local Government Area, the Returning Officer and chairman of the APC Primary Election for Lagos State by-election, Hon. Ibrahim Masari, said Abiru won through affirmation as the sole aspirant through direct primary system.

Before the coming of Abiru, several political heavyweights in the state had signified their interest in the seat. They were all encouraged by the National Leader of the party, Asiwaju Bola Ahmed Tinubu. But things soon changed when the power members of the Governance Advisory Council, the highest political organ in the state paid a visit to Tinubu to intimate him of their recommendation for the seat.

The leader was said to have categorically rejected their recommendation, saying that he has made up his mind on his preferred candidate. He pointedly told them that he has decided on Abiru, a banker. He also said that he would not accept their recommendations again as they had forced the late Senator Adebayo Osinowo on him and he was not ready for that anymore.

Tinubu therefore told them to work with Abiru who would be resigning the following week from his designationas the MD of Polaris Bank.

Tinubu’s decision took the GAC members by surprise. Why would anyone resign from a

high profile banking job for a political position that is less glamorous and risky. They suspected that there was more to the move than meet the eye.

Their reason for being suspicious is understandable given that business people are often cynical about the politics. It is after all, hard to stomach the goings-on associated with politics in the country. They rather give it a wide berth and stand aloft than be seen to belong to any of the political divide.

So what is propelling Abiru? The prevailing view within the APC in Lagos is that Tinubu is just angling Abiru towards Government House, Alausa. To them, absence of evidence is not evidence of absence. The value of that aphorism has just been shown following the way all aspirants opposed to Abiru were persuaded to step down for the banker.

There are arguably only that Lagosians may readily support with their generous goodwill and on time; one, whoever is the sitting president and the other is Bola Tinubu.

This is because of his stranglehold on the state’s political pulse. In the political firmament of the state, Tinubu is the lone Iroko tree that makes a forest. So, they senatorial aspirants accepted his decision withouta whimper.

For many of the disgruntled aspirants who were not allowed to test their popularity, Lagos political situation is, to say the least, difficult; and the problem? Decisions forced on the party by just one man. They lamented that this problem is not about to go away anytime soon. As a result, they feel uncertain about the future, especially about the future after the leader.

Is the coming of Abiru a signal to Governor Babajide Sanwo-Olu that all he has at the helm of affairs in Lagos state is one term? This notion had been rife from the beginning of his tenure. And once Tinubu had his way with the immediate past Governor, Mr. Akinwunmi Ambode, he can very serve thesame dish to anyone else. So, where does that Sanwo-Olu’s deputy, Obafemi Hamzat, whose ambition to rule Lagos is not hidden?

“If you are not the first, you are last,” so goes a catch-phrase in politics. This epithet might be true of politics but not necessarily in the race to control a man in power; even though you may have engineered his coming power as a godfather. There is a saying that lame duck periods can last for only so long. When the time comes, it will burst into the open. Tinubu has probably learnt that to retain his hold on power in Lagos, it may not advisable to allow the lame duck burst into the open.

In the meantime, Abiru has stated that the nomination was the most significant in his personal journey and in the history of the APC, especially in Lagos East Senatorial District.

“My deep gratitude and humble appreciation goes out to our leaders and members across the district who have trooped out en masse to ratify my candidature as the APC flag bearer for the Lagos East senatorial bye election scheduled to hold on October 31, 2020.”

In the statement which was signed by the Lagos state spokesman of the party, Mr. Seye Oladejo, Abiru said the decision to nominate him “is no doubt an expression of confidence in me, a confidence and trust which as a loyal party man, I will live day and night to earn, justify and protect. Given this great expression of trust, let me first appreciate all our members for coming out in good number to affirm me as the party flag-bearer.

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

Speaker of the House of Representatives, Rep. Femi Gbajabjamila (left) and the President of the Republic of Ghana, Nana Akufo-Ado (right) during a meeting to resolve some issues between Nigeria and Ghana in Accra

L - R, Akwa lbom State Commissioner for agriculture, Dr. Glory Edet and the Deputy Governor of Akwa Ibom State, Mr Moses Ekpo displaying high yielding coconut cultivars during the recent World Coconut Day in Uyo

Peoples Democratic Party (PDP) candidate for Bayelsa Central Senatorial District, Chief Moses Cleopas (left) and Governor Douye Diri of Bayelsa State in Yenagoa when Cleopas paid a courtesy call on the governor

L-R: Enugu State Commissioner of Police, Governor Ifeanyi Ugwuanyi of Enugu State, Ahmad Abdurrahman, Assistant Commissioner of Police, State CID, ACP Fidelis Ogarabe and Governor Ifeanyi Ugwuanyi of Enugu State, when the governor inspected the office complex of the newly created Force CID Annex Enugu for the South East zone, which was renovated and furnished by his administration

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FEATURES

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

Tackling Child Bride Menace, Illiteracy through EdoBEST Chiemelie Ezeobi writes that through its EdoBEST initiative, the state government is tackling child bride menace and illiteracy, a move that recently yielded fruit with the $75m facility from the Word Bank

Edo State Governor, Mr. Godwin Obaseki, addressing pupils of Ivbiyeneva Primary School in Ikpoba-Okha Local Government Area of Edo State, during the school’s Open Day

R-L: Chief of Sta, Chief Taiwo Akerele (2nd right); Edo State Governor, Mr. Godwin Obaseki; Special Adviser to the Governor on Basic Education and Chairman, Edo State Universal Basic Education Board (SUBEB), Dr. Joan Osa Oviawe, a parent and her child, during the governor’s visit to Ivbiyeneva Primary School in Ikpoba-Okha Local Government Area of Edo State

M

emunatu Musa, a 14-year-old pupil of Enikaro Primary School in Benin City, Edo State, had a dream. Given her brilliance, her dream to further her education should have been a breeze, but poverty struck.

As one of the most promising students in the school, her love for academics shone through her performances.

All too soon, the family’s finances couldn’t shoulder her academic needs. Unfortunately, she was married off to a 50–year-old man in Katsina State. That singular move derailed her vision to study.

Save for the timely intervention of Governor Godwin Obaseki, who through the Edo Basic Education Sector Transformation (EdoBEST) programme, rescued her and reintegrated her into the school system, her dream would have gone awry like do many other young girls who were married off early.

According to girlsnotbrides, a social advocacy group against child marriage, 26 per cent of girls in Benin are married before their 18th birthday and seven per cent are married before the age of 15. Most of these young girls terminate their schooling to become wives, thus increasing the number of out of school children.

This is one of the reasons why Nigeria has one of the highest numbers of out-ofschool children globally. The figure has been estimated to be over 13 million Nigerian boys and girls that are not in school. The provision of standard education programmes and access itself has become a challenge to many states.

But Edo is bent on changing that narrative with EdoBEST, through which it has continued to change the perception of the people about politics and governance. Given the impact it achieved in the primary level, the programme is set to be extended to the junior secondary school level in the state.

Apart from its positive transformation in the state’s education sector, the reform programme is targeted at achieving the Sustainable Development Goal 4 (ensure inclusive and equitable quality education and promote lifelong learning opportunities for all).

The EdoBEST initiative is also targeted at improving teacher quality and performance, increase numeracy and literacy levels among pupils and improve school administration and management. Undeniably, it has transformed education in the state from analogue to digital, with teachers using custom-built, cloud-run tablets.

In the EdoBEST programme, over 8,700 teachers have been trained and equipped with Information and Communications Technology (ICT) devices for improved learning outcomes, which have positively impacted over 150,000 school children in the state.

Over 234 schools are being reconstructed with 7,094 computer tablets distributed to teachers and headteachers, while 11,688 School-Based Management Committee (SBMC) members have also been trained to help in administering and maintaining public education facilities.

Pupils taking lessons in one of the 320 primary schools refurbished by the Edo State under the Edo Basic Education Sector Transformation (Edo-BEST) programme Just like other key institutions that have interests in the development of the education sector, Governor Obaseki’s initiatives in the sector has not gone unnoticed. In a recently published commentary on its website, the World Economic Forum (WEF) applauded the EdoBEST initiative for improving learning outcomes among pupils in primary schools across the state and described Governor Obaseki, as a trailblazer who is “quickly and dramatically lifting the quality of government schools and up-skilling teachers in his low-income state.�

According to the WEF, “education experts around the world and across Africa, in particular, are paying close attention to EdoBEST, and has become a beacon of light to other education ministries because it is improving learning for marginalised children and up-skilling both novice and experienced teachers at scale, within existing state budgets and without western aid.�

The forum said that the changes are happening within the existing system and being spearheaded by existing teachers and school leaders, and hailed the reforms as “a Nigerian solution to a Nigerian problem.�

The World Bank and the United Nations General Assembly (UNGA) have also highlighted EdoBEST as a crucial program that can be a template for transforming education in educationally disadvantaged societies.

In September 2019, the World Bank Group organised a side-event at the UNGA summit in New York to discuss Edo-BEST. Thus, it was not surprising that at a time when grants and facilities from the World Bank seemed tilted toward finding solutions to the COVID-19 pandemic and cushioning recessions in countries, the Edo State government recently got a $75m facility from the global bank to address issues of education development.

The new development, which is the $75m facility, is given to further the governor’s vision of holistically revamping the state’s

education sector.

According to the Special Adviser to the Governor on Media and Communication Strategy, Mr. Crusoe Osagie, this facility did not come from the blues, as it was the handiwork of the steady developmental strides of the Governor Godwin Obaseki-led administration’s strategic implementation of programmes in the education sector that has attracted the attention of the World Bank.

Applauding the governor’s initiative at the grassroots level, a primary six and primary five pupils of Eveva Primary School, Okugbe Okpella in Etsako East Local Government Area, Promise Oshoke and Monica Aliu, said the Obaseki-led administration has made learning more interesting and exciting for them.

The pupils enumerated some of the facilities provided by the state government to aid learning and teaching to include modern desks, textbooks, computers, and school buildings.

Also, teachers in Omigie Primary School, Okpella were full of encomiums for the state government for giving the school a facelift through the construction of a block of classrooms and a headmaster office, as well as toilets for pupils and teachers.

Ayo Omokhagbon and Raymond Madugu, both teachers in the school said the EdoBEST initiative introduced by the Obaseki ledadministration has brought professionalism into the education sector as pupils now learn at the same level of competence.

The Nigeria Union of Teachers (NUT) also recently bestowed Governor Obaseki with the Best Performing Governor Award in recognition of his education reforms, the success of the Edo-BEST programme and his prioritisation of teachers’ welfare in the state.

While receiving the award, Governor Obaseki said, “If you are not able to add your sums and pronounce your alphabets, you cannot write and you cannot think logically.

So, what we have done in Edo in the last

one and a half years is to first prioritise basic education and technical education.�

He argued that basic education from the perspective of encouraging teachers, deploying technology to determine and tell when a teacher is in class, among others, form the basis of the Edo-BEST programme in the state. “I can tell from my office today when a teacher is in class. If a teacher is not in class then the teacher hasn’t signed into the database. Once a teacher is signed in, the lesson note for that day will be loaded into the teacher’s tablet. And we’ve trained teachers to understand how to use the tablets and the technology to teach the children. So, this is also to motivate them and corporal punishment has been abolished in our schools.

The outcome is that children are learning.

A child in Edo state today after one term has now learnt more than three terms of work in the old system.�

Speaking on the significance of the award, Governor Obaseki said, “What this award means is that a nation should know that we are prioritising education as a party. The country should know that what is important today is mental infrastructure, the intellectual infrastructure not stomach infrastructure.�

Speaking during one of the numerous ward-to-ward rallies ahead of the September 19 governorship election in the state, Governor Obaseki, who is the candidate of the Peoples Democratic Party (PDP), assured that the money which was approved by the World Bank Board will be utilised to change the face of education in Edo and Nigeria for the next three years.

He commended members of his cabinet for the successes recorded in the sector, stating that the intervention fund would help to expand the existing EdoBEST programme from the basic education level to secondary level and reset state the state’s tertiary education system on the path of progress. “What this means is that over the next three years, we will have about N40 billion to utilise in changing the face of education in Edo and Nigeria. This is because of the fantastic work which members of our team have undertaken in the past few years to show the world what we can do with our educational system. “It will interest you to know that this facility will help us at the secondary school level to do what we have started doing at the basic education level so that by the time a child has gone through five years of learning, that child will be exposed not only to learning and literacy but also to a vocation. This is the last time in our history that our education system will produce ‘Agberos’,� he vowed.

So far, many states within the country, including Lagos, have visited Edo State to learn from the EdoBEST success story.

The state has also received foreign delegations from Rwanda, Liberia, Sierra Leone, among others, who have come to understudy the Edo-BEST programme, including accolades from the World Economic Forum (WEF), the World Bank, the Finnish Embassy, among others, on the impact of the reforms in schools across the state.

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FEATURES

Path to Sustainable Development in Osun Yinka Kolawole in Osogbo writes on the resolve by the Osun State government to reclaim missed opportunities and set the state on the path of sustainable prosperity and development

A

s Osun State gears to mark the 29th year of its creation, the state government organised series of public lectures on economic advantages and prospects in agriculture, tourism and mining in the state.

The event was part of the state government’s deliberate and measured plans to unleash the state’s economic potentials to the world for the purpose of shoring up her Internally Generated Revenue (IGR).

Guest speakers for the event are Dr. Nteranya Sanginga, Chiamaka Ifediora and Najim Animashaun. Sanginga is the Director General of IITA, Ibadan and has to his credit 120 published peer-reviewed articles and has also trained over 30 PhD candidates all over Africa and other part of the world, majority of whom now hold strategic leadership positions in their countries.

Ifediora shared her over 15 years tourism development experience. Ifediora has consulted for private and public enterprises in the UK, USA, The Gambia, Turkey, Kenya and Nigeria.

Animashaun on the other hand shared his mining industry insights. Animashaun is a Buckingham University trained extractive industry lawyer with over 30 years progressively robust experience in mining. A former Special Assistant to former General Manager of Nigerian Mining Corporation and Minister of Petroleum Late Dr Rilwan Lukman, Animashaun has also worked on projects funded by the World Bank, UK DfID and the United Nations.

Also with over 70 per cent improvement in her IGR since inauguration in November 2018, the Gboyega Oyetola-led government believes much more can be harnessed for the benefit of the people of the state if her capacities in agriculture, tourism and mining are adequately explored.

At the maiden Virtual Public Lecture organised by the state’s Ministry of Regional Integration and Special Duties, to herald the 29th Anniversary of the creation of the state, the Governor Adegboyega Oyetola reaffirmed the administration's resolve to reclaim missed opportunities and set Osun on the path of sustainable prosperity and development.

He said the administration would spare no effort to unbundle the potential of the state across all sectors, particularly agriculture, tourism and mining. He added that under his watch, the state has developed workable and achievable roadmap that would help drive its people-oriented policies to enhance growth and development of the state.

While reeling out some of the achievements of his administration in the last one and half years, he said the government had successfully consolidated on the past strides and recorded huge success in its efforts to stimulate the economy of the state and utilise the state's socio-economic potential.

Speaking on the theme of the lecture, "Unbundling Osun Potential towards prosperity in Agriculture, Tourism and Mining", Oyetola noted that "as a responsible government which inherited a fragile economy and faced with COVID-19 dilemma but is not given to excuses, we have gone back to the drawing board to creatively design an unusual method to respond to the challenges in order to deliver the better life to the people.

"This virtual lecture is therefore a creative and proactive response to achieving the objective of the economic and investment summit, which we floated in November last year as our solution to lifting the state out of economic woes and making it an economic hub of the South-west.

"The theme of this virtual lecture is apt and timely at this period when petro dollar is declining, monthly allocation is progressively tumbling and economic activities are diminishing. It is also apposite that the lecture is coming at a time when diversification of the economy remains the obvious road to economic recovery and prosperity.

"As an administration, we believe that our state has all it takes to prosper and

Governor Oyetola

that the greatest potential of the state of Osun is its people and the resources that lie under its soil. At a perilous time like this, there is a need to look inward to tap on our strength and potential in Agriculture, Tourism and Mining, which, without doubt, are our areas of comparative advantage.

"From the experience of the nation with oil, unbundling Osun potential towards prosperity in its areas of comparative advantage goes beyond resource abundance. We shall need to approach our potential as business and adopt an amalgam of appropriate strategy, efficient and competent personnel and employment of due process in the management of our resources to avoid resource curse.�

Oyetola who reassured of the government's commitment to contain the spread of the deadly COVID-19 pandemic and revive the economy of the state, said "the administration is resolved to wriggle the state out of lack and put it on the lane of prosperity. “Hardship occasioned by national economic downturn and COVID-19 challenges notwithstanding, our administration is resolved to wriggle the state out of lack and put it on the lane of prosperity. We have the political will and the competent personnel. Our ability to prudently manage our resources since we assumed power and to keep our economy afloat in the face of depressed economy is proof that we have the capacity to translate our resources to sustainable wealth.

"In order to harness all of these for effective and efficient management of our resources, we shall regularly build capacity by organising seminars and workshops to build capacity".

The governor went on to congratulate the citizens and residents of the state on the occasion of the 29th anniversary just as he called on them, particularly the youths to key into some of the life-changing policies and programmes of the government designed to uplift their lives and banish hunger, poverty and the scourge of unemployment.

Earlier, the Deputy Chief of Staff to the

Governor, Prince Abdullahi Binuyo, unveiled some of the substantial achievements the government had recorded in the mining sector as the sector had witnessed tremendous transformation in the last eighteen months of the present administration.

He said the state has been prudently managing its abundant mineral resources particularly in the mining sector to rejuvenate the economy of the state as the Governor had demonstrated capacity to make solid mineral the mainstay of the economy of the state.

In their separate remarks, the Commissioner for Tourism and Culture, Dr. Adebisi Obawale and the Commissioner for Agriculture, Mr. Adedayo Adewole, reeled out some of the achievements recorded in their respective ministries to unleash the potential of the state for socioeconomic growth, development and prosperity.

However the host commissioner who is the State Commissioner for Regional Integration and Special Duties in the State, Olalekan Badmus, posited that the State of Osun would have been among states contributing significantly to the country’s revenue base by next decade.

He said, with good vision of Governor Adegboyega Oyetola, which hinged on Agriculture, Tourism and Mining codenamed, OsunATM, the state was already on the path of sustainable prosperity.

Badmus said this in an interview with newsmen on the sidelines of the Special Anniversary Service held at Osogbo Central Mosque in commemoration of the 29th year of the state’s creation.

According to the State Commissioner for Information and Civic Orientation, Mrs Funke Egbemode, the government appreciated its citizens for being people of peace and understanding, adding that these values have contributed to the achievements that have accrued to the state over the years.

Meanwhile, the Commissioner for Regional Integration and Special Duties, Olalekan Badmus, charged the people of

the State of Osun to step up their support the good stewards of Governor Gboyega Oyetola's administration saying the huge success recorded in 21 months was worth commending.

He said this while delivering his remark at the visitation ceremony of the First Lady of Osun, Alhaja Kafayat Oyetola to the Orphanage and Less Privileged Home in Osogbo on Wednesday.

The Commissioner, who lauded Mr. Governor for the prompt payment of salary to civil servants and pensioners, reconstruction of 322 Primary Health Centres, the upgrading of Ejigbo, Ifetedo and Asubiaro General Hospitals, the completion of Alekuwodo Road as well as Ede -Ara Road, Ede-Ejigbo Road and Sabo-Irojo Road, added that he was confident of Oyetola's second term ticket.

The Wife of the Deputy Governor, Mrs. Oyefunke Alabi; Commissioner for Women and Children Affairs, Barr. Olubukola Olaboopo; Commissioner for Youth, Sports and Special Needs, Yemi Lawal; Commissioner for Informaton and Civic Orientation, Mrs. Egbemode Funke; Special Adviser on Commerce, Corporative and Industry, Mrs. Christianah Ogunfolaju; Special Adviser on Youth & Sports, Aremo Lateef Adelabu; Commissioner Technical for SUBEB, Chief Moshood Oluawo; and Commissioner Services for SUBEB, Hon. Amos Akindiya are part of the state's functionaries, who were present at the event.

In the same vein, the Ministry of Regional Integration and Special Duties, which was saddled with the task of organising programmes celebration of Osun @29, held a virtual public lecture to kick-start the week-long celebration.

The visitation of the First Lady to Orphanage and Less Privileged Homes was part of the programmes lined up for the commemoration of the state's creation, which is going to include Anniversary Jumat and Special Sunday Services at Osogbo Central Mosque and St. Benedict Cathedral Church.

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T H I S D AY Ëž ÍˇËœ 2020

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

REPO 2.25 1.63

CALL 1-MONTH 3-MONTH

3.67 5.08 6.17

A T

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

S E P T E M B E R

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

588.78% -0.35% -0.01%

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

4 , 4.61% 22.37%

2 0 2 0 EXCHANGE RATE N379/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes AfDB Partners AGRF

COURTESY VISIT

L-R: Managing Director/CEO, Transcorp Power Limited, Christopher Ezeafulukwe; House of Representatives member representing Ughelli North, Ughelli South and Udu Federal Constituency, Francis Waive; and Executive Director/ COOTranscorp Power, Okaima Ohizua, during a visit by theTranscorp Power Managementteamtothefederallawmakerlegislator...recently

GTBank Begins Search for Agbaje’s Successor, to Adopt HoldCo Structure Obinna Chima

BANKING

Guaranty Trust Bank Plc (GTBank) has started the recruitment process for the role of its chief executive officer currently held

by Mr. Segun Agbaje.

This followed the plan by the tier-1 bank to convert to holding company (HoldCo) structure by the first quarter of 2021.

Agbaje disclosed this during the bank’s half-year 2020 investor call yesterday.

Agbaje was appointed chief executive officer of GTBank in 2011. The Central Bank of Nigeria’s (CBN) tenure limit for bank CEOs is a maximum of 10 years.

Speaking on the succession plan, Agbaje explained: “What we are looking for now is a Managing Director for Guaranty

Trust Bank Nigeria. The process has started and I have always told people that we have five Executive Directors and so all of them are going through a process at the moment. “We are working with a consulting firm in the United Kingdom. We are looking at what we think the future would hold and what we think the Nigerian banking industry would look like. “At the end of the process which would end at the beginning of the fourth quarter have a Managing Director for GTBank Nigeria. So, we are on track. So, succession to GTBank Nigeria is well under control.�

Earlier, while responding to questions from analysts, the bank

CEO said the arrangement for a HoldCo was going on very well.

He explained that bank has been working towards securing all the necessary regulatory approvals such as from the Central Bank of Nigeria (SEC), the Securities and Exchange Commission (SEC) and in other regions. “In terms of the work we are doing on it, the operational model for the HoldCo is set. You will have the centre, which is the controlling or holding company and you have a couple of business units. Operationally, what you would see is that in terms of HoldCo, we are going to do a one for one exchange, which means that the shares of GTBank would move up to the HoldCo. “In terms of the bank, operationally we are going to split it into three: You will have Guaranty

Trust Bank Nigeria; Guaranty Trust Bank East Africa, almost operating as a region and you will have Guaranty Trust Bank West Africa operating as a region. “We would then have other business units. The business unit we are looking at commencing with would be Asset Management, a Pension Fund Administrator (PFA) and a payment company. Hopefully this week, we would put in our application for final approval for the payment company. “For the asset management and the PFA, we are going through a due diligence on an entity as we speak and if we close, they would be together. I believe that we would be ready to go live with the HoldCo, hopefully by Continued on page 26

Fidelity Bank to Sell N50bn Bond in Q4 Fidelity Bank Plc plans to issue up to N50 billion in local bonds by the fourth quarter to refinance existing debt as yields fall.

Reuters quoted the bank’s Chief Operations and Information Officer, Gbolahan Joshua, to have said this during an analysts’ call.

Bond yields have declined on the local debt market after an oil price crash triggered by the novel coronavirus pandemic caused foreign investors to dump naira assets, leaving money markets awash with liquidity.

The new issue would be made to redeem an existing N30 billion bond issued at 16.48 per cent.

Debt market yields have dropped from a high of 18 per

BANKING cent three years ago. Yields on the one-year treasury bills are quoted under five per cent.

The mid-tier lender said it expects to see a 15 per cent drop in profit this year compared with 2019, citing the impact of the coronavirus pandemic.

It said profit before tax had increased by 21.9 per cent to N12 billion in the half year.

Fidelity Bank’s income declined in the second quarter due to a downward review of lending rates on loans backed by development finance institutions and an economic slowdown.

Nigeria’s growth contracted in the second quarter with fears that the economy could be heading into a recession in the next quarter.

Commenting on the results released at the weekend, Fidelity Bank CEO, Nnamdi Okonkwo, had said the performance for the period, reflects the resilience of the bank’s business model. “Due to the global and domestic headwinds witnessed in H1 2020, we proactively increased our cost of risk as the impact of the pandemic slowed down economic activities whilst adapting our business model to the new risks and opportunities of the new normal� he stated.

According to him, Fidelity Bank, re-stated its first half 2019 figures from N15.1 billion to N9.8 billion to reflect the impact of International Financial Reporting Interpretations Committee (IFRIC) 21- Levies, which was adopted for the first time on the first half 2020 financials. “The key impact of IFRIC 21 was that our 2020 full year, the Asset Management Corporation of Nigeria (AMCON) cost was recognised 100 per cent in our first half 2020 accounts rather than been amortised over 12 months as was done previously on our financials,� Fidelity Bank CEO Continued on page 26

The African Development Bank (AfDB) has returned as a top-tier partner of the African Green Revolution Forum (AGRF) – Africa’s largest agriculture conference – to be held online for the ďŹ rst time.

The event holds from September 8th to 11th, 2020, in light of the COVID-19 pandemic. The tenth annual AGRF will be headlined by African Heads of State and Government, and will bring together delegates from governments, civil society, the private sector and research communities.

AGRF 2020 is hosted by the Government of Rwanda and the AGRF Partners Group. “As COVID-19 causes disruptions across Africa, we must prioritise policy support, especially for small and medium enterprises that produce, process and market 60 per cent of food consumed on the continent,� the Bank’s Acting Vice President for Agriculture, Human and Social Development, Wambui Gichuri said. “Weneedtoenhancemovementofinputsandfood,increaseproduction of and access to healthy and nutritious foods, establish food security task forces in countries, as well as strengthen regional organisation capacity to monitor multi-country initiatives. AGRF is the platform to move these policy conversations forward.�

Gichuri leads the Bank’s “digital delegationâ€? to AGRF, which also includes Atsuko Toda, Director for Agricultural Finance and Rural Development; Martin Fregene, Director for Agriculture and Agroindustry; Esther Dassanou, Coordinator of the Bank’s AďŹƒrmative FinanceActionfortheWomenofAfricainitiative(AFAWA),andEdson Mpyisi, Coordinator of the Bank’s Enable Youth program. The Bank delegation will take part in nine AGRF sessions. “Feeding Africa’s growing population is not just about producing more food. It’s also about getting food to people who need it most.

We support entrepreneurs along food system value chains helping to make that happen,� Toda said.

Ecobank’s Sandbox Goes Live

After a successful pilot run earlier in 2020, the sandbox of Ecobank Group is now live and accessible, on request, to the African ďŹ ntech community.

The sandbox allows ďŹ ntechs to access Ecobank’s Application Programming Interface (APIs) for the development of innovative solutions.

The Sandbox is a major milestone for the Ecobank Group on its open banking strategy and it will accelerate partnership with ďŹ ntechs and other partners across Africa.

The bank’s Group Executive, Technology and Operations, Mr. Eddy Ogbogu, who disclosed this, stressed that, “as the pan-African bank, Ecobank is committed to the growth of the pan-African ďŹ ntech ecosystem. “Thissandboxisdesignedtofacilitatethisobjective.InnovativeďŹ ntechs, start-ups, product developers and technology partners are invited to leverage the platform to actualise their pan-African dreams.â€?

Group Senior Fintech Advisor, Djiba Diallo noted that, “The Sandbox is designed to be relevant to the needs of the Ecosystem.There were reallypositivereviewsfromthepilotaswellassomevaluablefeedback which helped in ďŹ ne-tuning the platform for live launch. “The pilot indeed helped both Ecobank and ďŹ ntechs get the best out of the sandbox.We are excited about the new opportunities it brings to the ecosystem and customers.â€?

Paxful Boosts Operations in Nigeria

Global peer-to-peer bitcoin marketplace, Paxful is to strengthen its operations in Nigeria with a physical presence in Lagos which will be mannedbyemployeesdedicatedtotheNigerianmarket.Thecountryis thecompany’sleadingmarketintermsofvolumeandnumberofusers.

Speakingontheexpansionplan,HeadofAfrica&MiddleEastforPaxful, Tugba Abadan, said, “Our decision to expand operations in Nigeria enables us to listen to our users more carefully and to continually ensure that their concerns are addressed.�

The company has already appointed a Regional Manager for Nigeria whileotherpositionsarebeingďŹ lled.NenaNwachukwu,NigeriaRegional Manager for Paxful, is an expert in the Bitcoin industry with nearly a decade of experience in the ďŹ eld.

“COVID-19 is clearly showing us why it is important to fasttrack the digitalisation or rather the digital transformation of Nigeria�

Minister of Communication and Digital Economy,

Dr. Isa Pantami

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T H I S D AY Ëž ÍˇËœ 2020

BUSINESSWORLD GTBANK BEGINS SEARCH FOR AGBAJE’S SUCCESSOR, TO ADOPT HOLDCO STRUCTURE the first quarter of next year.

Things are going well; we have all the advisers working and we are working on the operating model,� the bank CEO added.

Speaking on the bank’s financial performance, Agbaje expressed confidence to meet the full year expectations set earlier in the year and so maintained its guidance. “We will try to deliver what we promised,� he said.

The bank plans to maintain its dividend policy, so hopes to pay out 45 to 50 per cent on dividends – in line with historic levels.

The bank plans to meet its full year 2020 loan growth expectations of 13 per cent.

The half year results showed that GTBank’s profit before tax (PBT) stood at N109.714 billion as at the end of June 2020, compared with the N115.787 billion recorded in the comparable period in 2019, while profit after tax (PAT) printed at N94.271 billion, down 4.9 per cent from N99.133 billion recorded in 2019.

GTBank recommended an interim dividend of 30 kobo per share same as what was paid the previous year.

FIDELITY BANK TO SELL N50BN BOND IN Q4

said.

He further revealed that, without implementing IFRIC 21, profit for the period would have been N17.9 billion compared to the N15.1 billion reported in the comparable period in 2019.

Fidelity Bank has been implementing a digital-led retail strategy and digital banking gained further traction during the period with 87.3 per cent of the bank’s customers now transacting on digital platforms.

Savings deposits in first half 2020 increased by 32.2 per cent to N363.9 billion with the bank on course to achieving the seventh consecutive year of double-digit growth in savings. Its savings deposits accounted for 49.1 per cent of total growth in customer deposits and now represents 25.9 per cent of total deposits, compared to 22.5 per cent in 2019 full year.

NEWS

Like Nigeria, Shoprite Moves to Divest from Kenya Peter Uzoho with agency report South Africa’s Shoprite Holdings yesterday said it expects to close or dispose of its remaining two stores in Kenya in the year ahead, leaving the East African country after opening its first store there more than two years ago.

The supermarket chain has been reviewing its long-term options in Africa as currency devaluations, supply issues and low consumer spending in Angola, Nigeria and Zambia have weighed on earnings. “Kenya has continued to underperform relative to our return requirements,� Reuters quoted the retailer to have said, adding its decision to leave had been confirmed by the economic impact of COVID-19.

Shoprite opened its first supermarket in Kenya at Westgate Mall, Nairobi, in December 2018, hoping to take advantage of disarray in Kenya’s grocery sector after the collapse of Uchumi Supermarkets and Nakumatt, two of the country’s top three retailers.

The decision to leave comes a month after Shoprite said it was considering reducing or selling all of its stake in its Nigerian subsidiary.

Shoprite, with more than 2,300 stores across Africa, reported a 6.4 per cent rise in

sales for the year ended June 28, with like-for-like sales up by 4.4 per cent as customers spent more on groceries at its discount Usave and mid-toupper end Checkers stores.

Diluted headline earnings per share (HEPS), the main profit measure used in South Africa, from continuing operations rose to 765.8 cents

against a restated figure of 746.9 cents a year earlier.

Last month, Shoprite Holdings disclosed unfolded plans to divest its stake in Nigeria.

The group, in a memo to its Nigerian employees dated July 31, 2020, that was signed by the General Manager, Shoprite Group of Companies, Carl Erickson, had stated that,

“We have identified interested Nigerian investors that share in this vision and we will now explore various possibilities of making it a reality.�

It stated that the divestment move was to open the business to Nigerian investors. “The expansion of the food retail business in Nigeria to a greater consumer market

should remain everybody’s shared vision. It has, however, become apparent that the best manner in which to do this is by engaging Nigerian investors who share in this vision. “In so doing, we will be creating a truly Nigerian business run and owned by Nigerians for the Nigerian market,� it had explained.

PROMOTINGE-LEARNING

L-R: Head IT, Old Mutual, Mary Aworetan; Executive Head, Marketing & Customer Experience, Alero Ladipo; Director, Public Private Partnership, Lagos StateMinistryofEducation,Dr.OlufunkeOyetola,andSt.FrancisJuniorGrammarSchoolStudent,GbengaAdeosun,duringOldMutual’spresentationof remotelearningaidmaterialstostudentsinLagos...recently

NEPZA, Ekiti Plan Agric Economic Zone James Emejo in Abuja The Nigeria Export Processing Zones Authority (NEPZA) said it is working with the Ekiti State Government for the establishment of a knowledgebased and special agricultural economic zonewe in the state.

Managing Director/Chief Executive of NEPZA, Prof.

Adesoji Adesugba, said while the federal government would continue to assist and develop policies that would aid development of states in terms of industrialisation, governments at the state level should leverage on the special economic zones and free trade zones which had as have been successfully utilised in China,

Dubai, Ethiopia and Turkey.

Speaking when he received Gov. Kayode Fayemi, who paid him a visit in Abuja, Adesugba said the authority was willing to license the proposed zone.

He said developing economies all over the world are using the economic zone strategy to fast track industrialisation adding that state governors should key into the scheme.

The NEPZA boss said the authority would continue to partner states to actualise the aspiration of establishing well thought out knowledge-based and agricultural special economic zones.

He told the governor that the proposed zone had the potential to empower young

people of government provides the right environment and ensure that the necessary incentive including infrastructure are put in place.

Fayemi, however said NEPZA remained a critical vehicle in the country’s quest to attract investments, local production, industrialization as well as revenue generation through Foreign Direct Investment (FDI).

He said the proposed zone would primarily be dedicated to a knowledge economy, knowledge production and knowledge generation for the country adding that, “We also intend to use the scheme to elevate the status of our agriculture where all

the value chains would be harnessed for greater benefit of the people.�

He said: “We all talk about Foreign Direct Investment (FDI) all the time, we all talk about creating an enabling environment, but to ensure that these happen, we must think outside of the box in order to drive the process in our localities. “It is indeed crucial that we recognise and disaggregate those investments in terms of sub-national opportunities at the state level. “For us in Ekiti we arguably have comparative advantages in the areas of scholarship and agriculture. We are very keen in our knowledge economic

agenda to have a status of a special economic zone which is going to be the first service oriented zone. “ “The state is known as the fountain of knowledge and there must be a way to turn knowledge into wealth.

What the COVID-19 has done to us is for us to begin to see economic diversities as opportunities and to exploit them.� “That really is the purpose for our proposed knowledge zone which sits within our education quadrangle. For us in Ekiti, this is the ministry that we have a stake in, it is a wonderful opportunity for us in Ekiti to engage with you and your team.�

FDC Highlights Gains of Cost Reflective Petrol, Electricity Prices Peter Uzoho Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents

Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (ICT) Peter Uzoho (Energy)

The Financial Derivatives Company (FDC) has stated that the bold step taking by the federal government to remove subsidies on petrol and electricity, and entrench cost-reflective regimes in the two energy sources would encourage direct investment flows into the power, petroleum and manufacturing sectors of the Nigerian economy.

The FDC also predicted that despite the current challenges, the Nigerian economy would witness recovery in the first quarter of 2021, a development it noted would result from the foregoing policy moves by the government. The Managing Director of FDC, Mr. Bismark

Rewane, stated this while presenting the company’s monthly economic outlook during the Lagos Business School Executive Breakfast Session for September 2020. “The bold steps taken so far will encourage direct investment flows into the power, petroleum and manufacturing sector. This will be further enhanced if the exchange rate unification process is boldly tackled and forex rationing is discontinued. “In spite of the current recession, the economy will begin healing in Q1 2021 in response to these policy moves. Just like in the words of John F. Kennedy “When the going gets tough, the tough get going,� he said.

Rewane, however, warned

of the difficulty consumers could have to face as a result of the policy actions, as they will have to be paying an average of 10 per cent more for petrol and 75 per cent more for electricity.

According to him, “It is crunch time for the Nigerian consumer, who now has to pay an average of 10 per cent more for petrol and 75 per cent more for electricity. The hope is that the quality and stability of power will improve, whilst there will be no more petrol queues. “Technically, the FGN has deregulated the pricing of these critical products and is playing a role of consumer protection and investment motivation.

Subsidies are reverse taxes, whenever you reduce subsidies you are increasing taxes.

The million-dollar question is, what will the government do with these higher revenues?

Will the quality of services in public health care, education and water improve or will the leakages just increase?’ The FDC boss pointed out that the investment multiplier required to boost output was a function of the level of gross capital formation which is currently at N37.02trillion ($120.8bn), explaining that, as long as savings and deposit interest rates remain 11 per cent below the rate of inflation, mobilization of savings for investment purposes would remain a mirage. On his outlook for the economy

this month, especially as business activities move from partial to full reopening, Rewane said that the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) would maintain status quo again on interest rate.

He said the resumed forex sales would bring additional pressure on the naira to about N420/$-N430/$, adding that money supply growth would expand to above N35 trillion He said the tier 1 banks would release results showing flat performance, while the stock market would trade horizontally before dipping on poor results. Rewane further noted that international flights would increase mainly to the Middle East, the United States and the European Union.

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9mobile Rewards Customers with N20m, Smart Phones in Promo Nume Ekeghe 9mobile said it has given out N20 million and over 1,000 smartphones in the first three weeks of its mega millions promo.

The promo was designed to reward 90 lucky customers with N1 million daily, two smartphones per hour for 90 days and a grand prize of N10 million.

A statement made available by the firm quoted two customers at the 9mobile Experience Centre in Enugu, Chinedu Kalu and Chukwuemeka Victor who emerged millionaires courtesy of the Mega Millions promo.

For Victor, he said he thought that the call from a 9mobile staff was a scam until he came to claim his N1m prize. “I want to encourage other people to take advantage of this offer so that they can enjoy what I am enjoying

now. I will use this money to further my master’s program at the University of Nigeria, Nsuka,� he said.

Similarly, the statement quoted Kalu to have said he got wind of the promo from an advert on Youtube and started recharging N1,000 every week, which made him to win N1 million.

Commenting on the win, Chinedu said: “I believed that I could win because 9mobile has never promised and failed. For those who still don’t believe, they should at least try and see for themselves. I want to encourage 9mobile to keep up the good work. This one million naira will help me with my education.�

In a related development, the Mega Millions Promo reignited the dreams of a poultry farmer in Kano. Ishak Fatihu Idris never thought that he would see his dreams materialise by

just recharging his 9mobile line.

He could hardly mask his feeling of joy as he claimed his N1 million prize at the 9mobile experience centre in Kano, expressed his appreciation to 9mobile. “I have never had this kind of money before. All I can say is thank you, and that the 9mobile business will continue to flourish,� an elated Ishak remarked.

The 9mobile Mega Millions Promo will run through November 2020. It promises hourly smartphone prizes to customers who recharge a minimum of N200, a N1million win for customers who recharge N1000 or more, while a cumulative recharge of N10000 monthly throughout the duration of the promo will enable one lucky customer to walk away with the grand prize of N10million.

Emirates, Ethiopian Connect Travellers to Global Network Chinedu Eze Major Middle East carrier, Emirates has announced that it resumed passenger services to Lagos from September 7 and Abuja September today, to connect the Nigerian destinations to its global network.

The airline said the resumption of flights to both Nigerian cities takes Emirates’ African network to 13 destinations, as the airline works hard to help its customers travel safely and confidently, implementing industry-leading health and safety measures at all points of the travel journey. “Flights to Lagos will operate four times a week on Monday, Wednesday, Friday and Sunday. Flights to/from Abuja will operate as a daily service. Tickets are open for booking on emirates.com or via travel agents. The addition

of the Nigerian cities expands the airline’s network to 84 destinations. “Passengers travelling from both cities in Nigeria to the Americas, Europe, Middle East and Asia Pacific can enjoy safe and convenient connections via Dubai, and customers can stop over or travel to Dubai as the city has re-opened for international business and leisure visitors,� the airline said in a statement.

In order to ensure the safety of passengers, Emirates said for travellers, visitors, and the community, COVID-19 PCR tests are mandatory for all inbound and transit passengers arriving to Dubai (and the UAE), including UAE citizens, residents and tourists, irrespective of the country they are coming from.

Also, Africa’s most successful carrier, Ethiopian Airlines said

it resumed flights from Nigeria to its global network of over 70 destinations that are open for flights including Toronto, Washington DC, Chicago, Newark, London, Paris and Manchester, on Monday. “During the Lockdown Ethiopian Airlines handled evacuation flights from America on behalf the Nigerian government and also to America for the American government. “Before the closure of the airspace, Ethiopian Airlines maintained Flights to Lagos, Abuja, Enugu and Kano but will be flying to only Lagos and Abuja as the approved airports for now. The airline will be providing its known world-class services to passengers while respecting the rules and protocols imposed by the countries,� the airline said.

Guinea Insurance Grows Investment Income by 50% Ebere Nwoji Guinea Insurance Plc’s gross premium income decreased by 2.05 per cent from N1.20 billion in 2018 to N1.17 billion in 2019.

Also, its net premium income decreased slightly by 0.27 per cent, from N904.9 million in 2018 to N902.4 million in 2019.

Addressing shareholders at the 62nd virtual Annual General meeting of the company held in Lagos, Guinea Insurance Chairman, Godson Ugochukwu, said the company grew its investment income for the year ended December 31, 2019, by over 50 per cent.

He said this was made possible by the operational efficiency of its management in terms of people, processes and technology, Specifically, during the period under review, the company’s investment income grew from N139 million in 2018 to N210 million in 2019.

He said the company also efficiently managed its operational expenses which decreased by three per cent, from N904 million in 2018 to N868.6 million in 2019.

Ugochukwu said the company during the period under review, written premium of N1.29 billion was recorded, as against N1.24 billion in 2018.

This represented a modest growth of 4.02 percent On steps taken by the company to beat the recapitalisation deadline, he stated: “We are sure not to be left behind, discussions are ongoing and our preparedness has reached an advanced stage but could not be discussed prematurely.

We are also looking the way of merger and the company is in discussion with core investors�.

Also speaking, Managing Director/Chief Executive Officer, Guinea Insurance, Ademola Abiodun said: “It is the intention of our board and management to iden-

tify opportunities amidst the COVID-19 pandemic, we will continually leverage information communication technology to create veritable and easily accessible platforms that will not only deliver services real-time and in a seamless manner but also, will deliver on the numbers. “Our longevity as a brand has stood the test of time and the values created over the years are embedded in the loyalty and commitment that we have enjoyed from all stakeholders.�

He said the board and management intends to keep Guinea Insurance as a legacy for several generations to come. “Our strength is made manifest in our passion for high standards and our single-minded determination to emerge a world class enterprise, one with the scope and economies of scale necessary to drive home our unflinching mandate of returning Guinea Insurance on the path of sustainable profitability,� he added.

Don’t Make Yourself Extinct In life, we should never allow anybody put us down or peg our progress. Most importantly, we should not stunt our progress with our own hands. A lot of us are in employment or working with business partners and have not been able to achieve our full potential or are not allowed to attain our full potential. We must fight this situation with everything that we’ve got.

Lately, the following quotations have resonated and reminded me of some of the attributes and beliefs that have pushed me and taken me to where I am today. Let me share some of them with you.

Jim Rohn said, “when you know what you want and you want it bad enough, you will find it�. “Let others lead small lives but not you (me). Let others argue over small things, but not you (me). Let others cry over small hurts but not you (me). Let others live their future in someone else’s hand, but not yours (mine).

One thing we need to realize is that our future is in our hands. To have more, we must first become more. What are you doing to change your course?

I read an article by Amasi Mwela titled, “Loyalty, Job Hopping or Strategic Job Placement�. Mwela’s piece made a huge impact on me. I spent over 20 years working in one organization. While I would say I was lucky as I was able to perform different roles and wear many hats which honed my skills in different areas. I was fortunate to also rise to the top of my career. Many people are not as fortunate and do not have such opportunities. This was the crux of Mwela’s article.

He talked about joining a company and asking the workers who worked there 2 questions: r )PX MPOH IBWF ZPV CFFO JO UIF DPNQBOZ And r 8IZ BSF ZPV TUJMM UIFSF He said to his amazement, the first 5 people he asked had been there for over 8 years, which he found impressive. However, most of them could not tell him why they had been there for that long, what life changing benefits they derived during this time, and what they had learnt or even whether they were still happy working there. If anything, he said, they felt stuck and were almost helpless.

He went on to say that one of the middleaged women he talked to who had spent over 9 years, quickly put him in his place by telling him that getting a job was tough and he should be grateful that he was employed.

In his investigation, he found out that this same lady, that squarely put him in his place, had only been promoted once in her 9 years of working in the organization. She hadn’t seen her CV nor updated it nor applied for open positions internally or externally.

Can you relate to the above? I certainly can. I have seen many people in dead-end jobs or working in toxic environments who are not thinking about improving themselves, learning new skills or moving into new areas or jobs.

Based on the latest job projections, we expect to see about 25 jobs becoming extinct by 2020. Where the observation is that a lack of specialization is detrimental to your growth and survival in the job market. Many of us have basic degrees in fields that are not necessarily specialized. This lack of specialization typically translates to a greater exposure to threats and replacement by new technology or younger, smarter workers.

Banking for example, one of the largest job group and most viable in this country, will decline in the coming years. The advent of online and mobile banking will drive this decline. Consumers are now able to take care of many tasks that require bank’s staff

including transferring money between accounts, depositing cheques and many more.

Manufacturing jobs are threatened and will become extinct when robots take over. In addition to word processors, postal services, printing, etc.

Going back to Mwela’s story and my agreement with it, he decided to become a “job hopper�. Let me correct an impression quickly. I am not saying job hopping for its sake is advisable, however, job hopping in order to remain relevant, keep up-to-date, adapt to change, be agile, know as much as you can, being able to speak the language of various departments within an organization is essential.

What we all need to start to do, is to become more strategic about our careers. Mwela called it “Strategic Personal Placement�.

Staying over 20 years in one organization worked for me. But, I sometimes wonder whether I could have been better placed if I had been more strategic, calculating and more daring in my career.

Mwela defined “Strategic Personal Placement� as: Strategic – each move should be with a goal in mind, a vision and not simply because of the lure of a few cents. Many people move for as little as 5% salary increase alone. I sometimes advise people to explore taking a pay cut to move them in strategic directions they want to achieve.

Personal – It’s our responsibility to manage our careers ourselves and to determine where we want to get to. We should not outsource our careers to our boss or an organization or system. And, Placement – We need to be very clear and deliberate about where we work. We need to ensure that for the most part, the next job is at a more senior level than the previous one and be clear about why you want to work for a particular company. We need to strive to place ourselves in organizations rather than wait for the system or an employment agency to decide for you.

In essence, we should not move because we are having challenges with our boss or are tired. We should move because it is strategically important for our career and has been strategically thought through.

How can you make yourself more relevant and marketable in today’s peripatetic marketplace? r $POTJEFS GVSUIFSJOH ZPVS FEVDBUJPO BOE specialize in areas that you have carefully researched and know are unlikely to be in the list of professions that can become extinct and make re-educating yourself a priority. r $PNQMFUF WBSJPVT DFSUJà DBUJPO QSPHSBNNFT to enhance your degree and specialization. r 8PSL GPS GSFF FTQFDJBMMZ JG ZPVS NPWF is specialized and you want to get into a job without job experience. You can volunteer or take an internship to garner the necessary experience. r 1SBDUJDF JOUFSWJFX TLJMMT * IBWF SFBMJ[FE that, many people have no clue about how to interview well, especially those of us who have risen to senior positions or have spent many years in organizations. We need to get proper tutoring on showcasing ourselves.

In conclusion, quoting from Alvin Toffler, who said, “the illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn and relearn. Your career and life is in your hands. Don’t become extinct. Make sure you are always relevant and remain “hot cake’, throughout your career. .t.BSJF 5IFSFTF 1IJEP JT B 4BMFT .BSLFUJOH 4USBUFHJTU BOE #VTJOFTT $PBDI &NBJM NQIJEP!FMFWBUP DPN OH 5XFFUFS IBOEMF!PTBU 5FM UFYU POMZ

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UBA: Supporting Economic Growth The increased loans and advances of N2.2 trillion by United Bank for Africa Plc as at June 30, 2020, indicates the pan-African lender’s commitment to economic growth, writes Goddy Egene

T

he economy of any nation grows faster when companies operating in the economy witness growth. And one sector that can facilitate the growth is the banking industry given its role of ďŹ nancial intermediation.

A major role of banks is to lend money for economic activities and engender growth. However, over the years, the role has not been played to the satisfaction of stakeholders. Both companies and individuals have stories to tell about how difficult it is to get funding from banks through normal lending process.

While some of the banks may be willing to lend, the challenging operating environment has affected the level of financial support to companies and individuals. In order to encourage more lending, the Central Bank of Nigeria (CBN) had to introduce the loan to deposit ratio (LDR) policy that mandate banks to lend about 65 per cent of their total deposits to private sector.

Despite that policy, some banks are feeling reluctant to increase their lending to companies, thereby not contributing enough to the growth of the economy. However, one bank that has shown commitment towards the growth of the economy through lending to companies is United Bank for Africa (UBA) Plc as reflected in its half-year (H1) results ended June 30, 2020.

The audited results, which was released last week, showed that loans and advances to customers rose to N2.186 trillion at the end of June 2020, from N2.061 trillion at the end of December 2019. Apart from contributing to the economic growth through increased lending, UBA Plc also put a smile on the faces of its shareholders by recommending an interim dividend of 17 kobo per 50 kobo share.

Despite the challenging business and economic environment occasioned by the Covid-19 pandemic, the pan African financial institution was able to end the H1 with higher gross earnings which rose to N300.6 billion, compared with N294 billion recorded in the corresponding period of 2019.

Net interest income grew by 8.4 per cent to N119.3 billion, whilst net fee and commission income stood at N38.6 billion representing a 7.0 per cent increase compared to the similar period in 2019. Operating income also grew by 7.7 per cent to N197.1 billion compared to N182.9 billion while profit before tax stood at N57.1 billion from N70.3 billion in 2019, yielding a 14.4 per cent annualised return on average equity.

The bank’s shareholders’ funds remained strong at N634.7 billion up from N597.9 billion in December 2019, driven by growth in retained earnings, a reflection of UBA’s capacity for business growth.

Reflecting growing affinity for the brand by customers, deposits increased by 25.2 per cent to N4.8 trillion from N3.833 trillion. However, the bank’s ability to increase its profit making potential was retarded by a jump of 89.9 per cent in restricted deposits to N1.579 trillion as at June, compared with N832 billion as at December 2019.

However, as at June 30, 2020, the bank’s total assets surpassed the N6 trillion mark hitting N6.8 trillion.

Commenting on the results, Group Managing Director/Chief Executive Officer, UBA Plc, Mr. Kennedy Uzoka said: “Our 2020 H1 results is yet another demonstration of the resilience of our business model in an extremely uncertain and tough operating environment. We recorded commendable growth in our underlying business in terms of customer acquisition, transaction volumes and balance sheet whilst inflation, depressed yield environment and exchange rate volatilities impacted our net earnings as anticipated.

According to him, despite the short-term challenges to various economic sectors occasioned by the Covid-19 pandemic, they focused on the fundamentals of businesses in growth-driving sectors of various economies in which they operate and achieved 6.4 per cent growth in gross loan to customers, “The Group achieved N114.3 billion (a 10% YoY growth) in interest income from loans and advances to customers, as well as credit related fees and commissions,� he said Uzoka explained that notwithstanding the lockdown in a number of countries and the general lull in several economic sectors, UBA’s banking channels remained open to customers ‘24/7.’ “Fortunately, we had proactively built robust electronic channel platforms to enable us serve

Uzoka

customers efficiently, and deliver services to them in the comfort of their homes. Notably, we are adjusting our operating model in response to the ‘new normal’ and will continue to optimise the way we work and serve customers in the days ahead,� he said.

He expressed confidence in the bank’s capacity to deliver good returns to shareholders, noting that “We remain committed to our drive as ‘Africa’s Global Bank’ and confident of claiming and sustaining industry leadership on key metrics across geographies where we operate. We will strive to deliver our services in a sustainable way, ultimately leveraging our best-in-class digital capabilities to delight our 21 million (and growing) customers across 23 countries.�

Also speaking on the results, Group Chief Financial Officer (CFO), Ugo Nwaghodoh said: “Our H1 2020 results reflects the inherent benefits of diversification as we have seen marked growth in contribution from the subsidiaries across Africa.

Our Rest-of-Africa operations have continued to break new grounds in market share gains, providing a buffer for Group earnings. As the global and local economies begin to improve, we remain optimistic of a better performance in the second half of the year, with expected improvement in the group’s NIM and ROAE which stood at 5.4 per cent and 14.4 per cent respectively as at end of H12020. “We defensively positioned our loan portfolio whilst we grew gross loans by 6.4 per cent, maintaining our prudent risk appetite, even as NPL ratio for the Group moderated to 4.1 per cent (from 5.3 per cent in 2019FY). We have prudently set up reserves for loan impairments in recognition of potential losses on the portfolio, resulting in 150 per cent growth in our provisioning. Albeit, cost of risk moderated to 0.7 per cent from 0.9 per cent in 2019FY. The Group’s capital adequacy ratio increased to 24.9 per cent providing a very strong buffer for asset growth. We remain committed to maintaining our robust risk management practices, as profitable growth and good asset quality remain our priority in 2020.

Looking at the results, analysts at Cordros Research said interest income increased by 0.3 per cent to N205.59 billion, supported by the growth across major contributors to the line, with the largest contributions coming from loans and advances to customers (+9.9 per cent to N113.89 billion), and loans and advances to banks (+77.5 per cent to N2.17 billion).

They noted that interest expense declined by 9.0 per cent to N86.26 billion despite growth across most major interest expense lines. “However, the reduced cost on deposits from customers (-19.9 per cent to N53.38 billion), as the bank’s CASA mix improved during the period (78.5 per cent vs. 73.5 per cent in H1-19), was able to offset the impact. Consequent to the growth in income and decline in expense, the bank recorded an expansion in net interest income of 8.4 per cent.

The bank still has some scope for gains here given that the CBN has now reviewed the minimum rate on savings deposits down to 10.0 per cent of MPR (30.0 per cent previously). We expect this will sustain net interest income growth in the year, even as interest income from loans may pare q/q through the rest of the year,� they added.

Cordros Research said non-interest income grew during the period by 6.7 per cent to N77.74 billion, driven by the growth in fees and commissions income (+7.0 per cent to N38.58 billion) and FX revaluation gains (+619.8 per cent to N7.80 billion).

Operating expenses settled 20.6 per cent higher, driven primarily by increased personnel expense (+19.9 per cent to N44.57 billion) and regulatory costs – AMCON levy (+12.1 per cent to N22.42 billion) and NDIC premium (+12.2 per cent to N5.58 billion).

United Bank for Africa Provides $200 Million for

Nigeria’s Petroleum Industry – Timely Financing for Post COVID Economic Growth. r *O MJOF XJUI JUT DPNNJUNFOU UP UIF HSPXUI of the nation’s economy and in order sustain its increased lending to customers, UBA Plc recently acted as an Initial Mandated Lead Arranger with a consortium of Nigerian commercial and international banks in a $1.5 billion pre-export finance facility for Eagle Export Funding Limited, to enable the forward sale of crude by the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).

UBA is providing $200 million towards the crude oil sale, to support investment growth and liquidity requirements. The forward sale will provide much needed capital for investment in NNPC’s production capacity, which is of strategic importance to the Nigerian economy and the country’s leading source of foreign exchange earnings. UBA’s position as mandated lead arranger recognises the group’s strength in structuring and deploying financing to the oil and gas sector, and the depth and liquidity of the group’s balance sheet.

UBA has a strong track record in the resources sector across Africa, having facilitated similar oil prepayment deals with the NNPC. UBA was also responsible for the EUR 240 million Revolving Crude Oil Financing Facility for the SociĂŠtĂŠ Africaine de Raffinage and in Congo Brazzaville co-funded the $250 million crude oil prepayment facility for Orion Oil Limited.

Speaking on this most recent support for the Nigeria’s petroleum industry, Chairman, UBA Group, Tony Elumelu said: ‘This has been one of the most economically challenging years that Nigeria has witnessed. With the sharp drop in the price of oil and the ensuing hardship that followed the onset of the Covid-19 pandemic, the private sector must come together and contribute meaningfully to the economy. This facility is clear evidence of this – UBA is providing investment that will significantly improve Nigeria’s production capacity and in doing so also demonstrating the strength, depth, and sophistication of our commercial banking capability. I believe that together, working with governments, we can create more jobs and more wealth for people, not only in Nigeria, but across Africa.�

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Agricultural Credit Scheme as Support for Food Sufficiency seeds that would incentivise farmers to return to their farms.

He maintained that the CBN adopted the value chain approach across all the commodities to ensure that every player along the entire value chain, from the farmers through to the processors, was financed.

The CBN’s funding of the ABP for the 2020 season, Yusuf said, was the highest since the inception of the programme in 2015. He said the proposed funding for the nine commodities was a significant move by the CBN, considering the successes recorded in the 2019 season that contributed to shielding Nigeria from any food shortage, particularly rice.

Also, CBN spokesperson, Isaac Okorafor, said the bank was committed to aggressively fund its agricultural programmes, particularly in the 2020 agricultural wet season, to ensure the farmers go to work immediately on the cultivation of the identified commodities. “This is to spur farmers along select crop value chains to prevent the country from sliding into a recession, as is currently being experienced in some major economies of the world,� Okorafor said.

CBN Governor, Mr. Godwin Emefiele, has assured that the Bank would sustain its intervention in the agriculture sector through its development finance mandate, in order to help catalyse growth in critical sectors of the economy such as agriculture and the manufacturing sectors.

In line with the vision of President Buhari, the CBN has indeed created several lending programmes and provided hundreds of billions to smallholder farmers and industrial processors in several key agricultural produce. These policies are aimed at positioning Nigeria to become a self-sufficient food producer, creating millions of jobs, supplying key markets across the country and dampening the effects of exchange rate movements on local prices.

The CBN governor explained that through programmes such as the ABP, the Commercial Agriculture Credit Scheme and the Bankers Committee Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS), the apex bank has improved access to markets for farmers by facilitating greater partnership with agro-processors and manufacturing firms in the sourcing of raw materials.

Therefore, it is expected that the multi-pronged approach towards agricultural intervention adopted by the central bank will support the federal government in its drive towards achieving food security.

This is also help strengthen economic growth and assist the government in its quest for economic diversification.

Donatus Nwaogu The Covid-19 pandemic has seen countries increasingly focus on food sufficiency. Achieving food security not only carries significant benefits for human health, but also serves as the basis to achieve sustained economic growth.

That was why the Agricultural Credit Guarantee Scheme (ACGS) Amendment Act which was assented to by President Muhammadu Buhari on June 24, 2019, that increased the share capital of the fund to N50 billion, from N 3billion, has continued to receive commendation, especially during this period of uncertainty.

The Central Bank of Nigeria (CBN), through the scheme as well as its other development finance interventions has continued to support the fiscal authority’s quest for the nation to attain food sufficiency.

Under the ACGS Amendment Act 2019, the sharing ratio is Federal Ministry of Finance (60): Central Bank of Nigeria (40). The maximum for non-collaterized loan under the scheme is now N100,000, just as under the amended Act, the maximum amount for collaterised loan granted to individuals, cooperative societies and corporate entities is now N50 million, up from N10 million Furthermore, the amended Act showed that complete agricultural value chain financing is now allowed under the ACGS Amendment Act 2019.

In addition, the Agricultural Credit Guarantee Scheme Amendment Act 2019 now also includes the financing of production farm machinery, the implementation and equipment for production, processing, storage and transportation.

The ACGS was established by Decree No. 20 of 1977, and started operations in April, 1978. Its original share capital and paid-up capital were N100 million and N85.6 million, respectively.

The fund guarantees credit facilities extended to farmers by banks up to 75 per cent of the amount in default net of any security realised. The fund is managed by the Central Bank of Nigeria, which handles the day-to-day operations of the Scheme.

The guidelines stipulate the eligible enterprises for which guarantees could be issued under the scheme.

Between 1978 and 1989 when the government stipulated lending quotas for banks under the scheme, there was consistent increase in the lending portfolios of banks to agriculture, but after the deregulation of the financial system, banks started shying away by reducing their loans to the sector due to the perceived risk.

According to the CBN’s economic report for February 2020, the ACGS has guaranteed a total of N334.8 million to 2,123 farmers as of February 2020. The amount represented an increase of 63.3 per cent and 47.3 per cent above the levels in the preceding month and the corresponding period of 2019, respectively. Sub-sectoral analysis showed that food crops obtained the largest share of N184.9 million (55.2 per cent) guaranteed to 1,314 beneficiaries, followed by the livestock sub-sector, N60.2 million (18.0 per cent) guaranteed to 219

EmeďŹ ele

beneficiaries, and cash crops, N44.0 million (13.2 per cent) guaranteed to 241 beneficiaries. Furthermore, it showed that fisheries and mixed crops obtained N21.8 million (6.5 per cent) and N15.3 million (4.6 per cent) guaranteed to 77 and 226 beneficiaries, respectively, while the ‘Others’ subsector got N8.6 million (2.6 per cent) for 46 beneficiaries.

Analysis by state showed that 28 states and the FCT benefited from the scheme in February 2020, with the highest and lowest sums of N36.5 million (10.9 per cent) and N0.9 million (0.3 per cent) guaranteed to Ekiti and Rivers States, respectively.

Beside the ACGS, the central bank through its Anchor Borrowers’ Programme (ABP) has continued to enhance food production in the country.

The ABP which was launched by President Muhammadu Buhari in 2015, was designed to assist small-scale farmers to increase the production and supply of feedstock to agro-processors with the aim of creating an ecosystem to link outgrowers (smallholders) to local processors. The programme has increased banks’ financing to the agricultural sector, enhanced capacity utilisation of agricultural firms involved in the production of identified commodities as well as the productivity and incomes of farmers. The anchor borrowers’ programme has also assisted rural subsistent farmers to reach commercial production levels.

The thrust of the ABP is the provision of inputs in kind and cash (for farm labour) to smallholder farmers with a view to boosting the production of rice, maize, poultry, sorghum, cassava, tomatoes, cotton, palm oil, Soybean, among others.

The idea is to stabilise input supply to agroprocessors and address the country’s negative balance of payments on food. It is a loan to farmers without collateral and the benefitting farmers are given farm input and cash to cultivate their farms, including the experiment on rice.

According to the structure of the ABP, a farmer who wants to repay his loan can either do so with cash or give the central bank his /her produce of same value, after which officials of CBN’s Development Finance Department would sell and recover the loan.

Following success recorded by the scheme and in line with efforts to boost food production as well as help the country avert the looming economic recession, the CBN recently disclosed that it has set aside about N432 billion to fund the value chains of nine commodities in the 2020 wet season.

It listed the commodities to include rice, cassava, maize, cotton, oil palm, cowpea, livestock, poultry, and fish.

The Director, Development Finance Department of CBN, Yila Yusuf, who disclosed this, said over ORANGE ISLAND DEVELOPMENT COMPANY LIMITED 1.1 million farmers, cultivating over 22 Dr Onion Ebhomenye Street Lekki Phase 1 one million hectares of farmland were expected to benefit from the loans that would help to produce a collective output of 8.3 million metric tons. Yusuf said the focus on the 2020 wet season was to ensure the provision of improved

PUBLIC NOTICE

Kwara Approves Full Implementation of IPSAS Hammed Shittu in Ilorin Kwara State government would soon commence the full implementation of the International Public Sector Accounting Standards (IPSAS) in the state.

Already, the state executive council has awarded the contract for the provision of comprehensive IPSAS Implementation Support Services to the PAACO-PCL Consortium at the cost of N390,647,500 for a duration of 41 weeks The development became imperative in view of the recent approval of the policy by the state executive council.

In a statement issued in Ilorin recently by the state Commissioner for Communications, Mrs. Harriet Afolabi-Oshatimehin after the state executive council meeting held in Ilorin said that, “the development of the software is one of the 22-point preconditions for the implementation of fiscal

sustainability plan framework which the State has not complied with over the years.

The Commissioner for Finance and Planning Olasumbo Florence Oyeyemi, who briefed the cabinet at the meeting sought council’s approval for the award of the contract for the development of the software.

She said the development of the software would involve setting up of a mini-data centre to host the software and serve as the main hub of the state’s digital accounting platform while work stations deployed across MDAs will be linked to the mini-data centre at the accountant general’s office.

Oyeyemi said the full implementation of the IPSAS would be in three phases, with the first phase involving the purchase of IPSAS-compliant account software; software configuration and project management; purchase of server and other

hardware requirements for six pilot MDAs; and offsite access licence and configuration across the MDAs. The second phase, she added, is the design and development of IPSAS implementation framework which involves review and domestication of the national chart of account for the government, review and domestication of IPSAS-Accrual Accounting Manual for the state government, and setting up of IPSAS (Accrual)-compliant general ledger.

She said the third phase is the budget and accounts conversion and preparation support.

Following extensive briefings from the commissioner, the cabinet approved the award of the contract for the provision of comprehensive IPSAS Implementation Support Services to the PAACO-PCL Consortium at the cost of N390, 647,500 for

a duration of 41 weeks The award for the contract was considered after considering proposals from two other firms AGM Professional Services which bid at N546, 500,000 for 47 weeks and Neo Mundo Ltd which quoted N521, 213,241 for a duration of 56 weeks.

The Commissioner had said the approval would mean the migration of the state from its current cash basis accounting system to accrual basis accounting system, listing its other benefits to include timely publication of state budget online, publication of audited annual financial statements within six months, improved transparency and service delivery, streamlining the standard of current financial system operational in the state as the MDAs will be linked to the office of the Accountant General for direct posting and monitoring.

SAMUEL ONWE

Notice is hereby given that SAMUEL ONWE whose photograph appears above is no longer in the employment of Orange Island Development Company Ltd. This is with immediate effect. He is not authorized to represent and or transact any business in any capacity whatsoever on behalf of the company.

Any person dealing with him shall do at his/her own risk GENERAL PUBLIC TAKE NOTE. SIGNED: ORANGE ISLAND DEVELOPMENT COMP. LTD.

MANAGEMENT

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IMAGES

L-R: All Progressives Congress (APC) chairman in Isi-Uzo Local Government Area, Comrade Titus Nnamani; chairman of the party’s primary elections committee, Mr Adolphus Ude; elected candidate, Mr Ejiofor Okwor; chairman of APC in Enugu State, Dr Ben Nwoye; and Women Leader, Lolo Queen Nwankwo, during the APC primaries for Isu-Uzo House of Assembly by-election, at Ikem community, Enugu State...recently

T H I S D AY Ëž ÍˇËœ 2020

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

L-R: Executive Secretary, Nigerian Press Council, Mr. Francis Nwosu; Minister of Information and Culture, Alhaji Lai Mohammed and Permanent Secretary, Federal Ministry of Information and Culture, Deaconess Grace IsuGekpe, when the minister met with the newly appointed CEOs of some agencies under his ministry in Abuja.... recently

Managing Director/CEO, Mainstreet MicroďŹ nance Bank, Adegoke Adegbami (left), and Chief Executive OďŹƒcer, Farm Funds Africa, Dorcas Omamul during the presentation of an award of the Most Innovative Micro Lender 2020 to Adegbami at the African Brands Awards held at Sheraton Hotel in Lagos...recently

Ebun Faith Morakinyo and her heartthrob Olorunsogo Bamidele both Ibadan-based top fashion designers during their wedding at the University of Ibadan Botanical gardens...recently

Chairman of the National Electoral Panel, PDP senatorial party primary election for Plateau Southern Zone, Sen. Mao Ohuabunwa (M), presenting the list of delegates to the newly elected Chairman of PDP, Plateau Chapter, Mr Christ Hassan (R), during the election in Shendam Local Government Area of Plateau...recently

Minister of Humanitarian Aairs, Disaster Management and Social Development, Sadiya Umar-Farouq (4th, right) and members of the National Humanitarian Coordination Committee, during their visit to Borno to discuss the immediate humanitarian needs of the state...recently

T H I S D AY Ëž ÍˇËœ Í°ÍŽÍ°ÍŽ

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L-R: National Deputy Youth Leader, Hon. Alfred Bolaji; Member, APC National Caretaker Committee, Barr.

Ismael Ahmed; Zonal Youth Leader, Northwest, Abubakar Fakai and APC South South Leader, Engr Gabriel Induseri, during the press brieďŹ ng by members of APC National Youth Leaders at APC National Secretariat, Abuja...recently

L-R: President. Mahamadou Issoufou of Niger Republic; President Muhammadu Buhari of Nigeria; President Macky Sall of Senegal and President Umaro Embalo of Guinea Bissau at the 57th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Niamey, Niger Republic...recently

L-R: FCT Minister, Mohammed Bello; Head of Civil Service of the Federation, Folashade Yemi-Esan; Secretary to the Government of the Federation, Mr Boss Mustapha and Vice President Yemi Osinbajo during the First Year Ministerial Performance Review at the Presidential Villa in Abuja....recently PHOTO: GODWIN OMOIGUI

L-R: Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed; Minister of Transport, Rotimi Amaechi and Minister of State for Budget and National Planning, Mr Clement Agba during the First Year Ministerial Performance Review Retreat at the Presidential Villa in Abuja...recently PHOTO: GODWIN OMOIGUI

L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu; Bishop and Missioner of Lagos Diocese, Rt. Revd.

Humphrey Olumakaiye and his wife Prof. (Mrs) Motunrayo during the opening of the 2nd session of the 34th Synod of the Lagos Diocese at Our Saviour’s Church, TBS, Lagos...recently

Members of Plateau Peace Practitioners Network during a road walk to mark Plateau Peace Day in Jos...recently

L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu; Bishop and Missioner of Lagos Diocese, Rt. Revd.

Humphrey Olumakaiye and his wife Prof. (Mrs) Motunrayo during the opening of the 2nd session of the 34th Synod of the Lagos Diocese at Our Saviour’s Church, TBS, Lagos...recently

L-R: Executive Secretary, National Health Insurance Scheme, Professor Mohammed Sambo; Inspector General of Police, Mohammed Abubakar Adamu; and Director, Police Health Commission Ahmad Yakasai, during the oďŹƒcial ag o of the inclusion of the retired Police oďŹƒcer into the National Health Insurance Scheme at the Force Headquarters in Abuja...recently

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T H I S D AY ˞ ͡, 2020

EDUCATION Ensuring Safety Guidelines in Varsities amidst COVID-19 Pandemic With the announcement last week by the federal government on schools reopening amidst the Coronavirus pandemic, some university managers explained to Funmi Ogundare the efforts and safety guidelines they have put in place to kick-start academic activities

President Muhammadu Buhari

L

ast Thursday, the federal government okayed the reopening of schools in the country after about six months break owing to the Coronavirus pandemic. The National Coordinator of the Presidential Taskforce on COVID-19, Dr. Sani Aliyu had recommended a phased return of students during a briefing in Abuja.

According to Aliyu, “educational institutions which include daycare, primary, secondary and tertiary institutions should begin the process of working towards potentially reopening within this phase.�

He recommended that states conduct a risk assessment to ensure that all schools are at a level of compliance and create a monitoring mechanism to assess, create and monitor the level of preparedness.

For resumption of tertiary institutions, the National Universities Commission (NUC) had in August, issued a directive to all federal, state and private universites in the country to complete a template form showing their readiness for resumption of academic activities.

The Directorate of the Executive Secretary’s Office, Dr. Chris Mayaki, said the NUC had requested universities through a letter addressed to vice-chancellors of the 171 approved universities to suggest the kind of protocols and strategies they are putting in place in their various institutions. “We are collecting some of the responses which have already started coming in and at the end of the day the picture should emerge about the extent to which our universities are prepared to reopen for academic activities.�

Some of the university managers, who spoke to THISDAY, explained the efforts they have put in place for resumption of academic activities in line with the federal government’s directive.

Babcock University, Ilishan-Remo, Ogun State is putting in place necessary facilities to ensure a safe and healthy environment for staff and student habitation when school resumes for onsite or in-person studies.

Dr. Joshua Suleiman is the Director of Communications and Marketing of the institution. He said the facilities have been installed in all its campuses; from the gate to the classrooms, halls of residence, office blocks and within the university teaching hospital. “A health communication plan has also been put in place to ensure the campus community is, every moment reminded of the need to keep safe by observing all approved health protocols,� he said.

Already, its College of Postgraduate Studies has resumed online studies since the

The Minister of Education, Adamu Adamu first week of August for the new academic session, while the undergraduate students commenced a new academic session on September 7, with online registration of courses and learning. “We are doing this so that our students will not lose any year to inability of academic institutions to begin physical academic mode of instruction and learning. It is also to live out our brand promise; the future is bright irrespective of the circumstances and situations. “Our university is resolved to make sure no academically commited student spends a day longer than the period it takes to complete his or her programme within stipulated parameters,� Joshua stressed.

A gradual phasing has been done for students resumption in Lagos State University (LASU). The Vice- Chancellor, Professor Olanrewaju Fagbohun said students in 400, 500 and 600 levels would resume for a duration of two months with an intensive lecture starting from 9am to 3pm for those that live off-campus. “After the completion of 400 level, 500 level and 600 level resumption, students in 200 and 300 levels are to resume for a two months lecture before the commencement of exams. Resumption for the students in 200 and 300 levels has been divided into different days of the week.�

Fagbohun said between Mondays and Wednesdays, 300 level students would be on campus for lectures, while on Tuesdays and Thursdays, 200 level students, would be on campus in order to maintain social distancing. “This is in a bid to protect the lives of the students of Lagos State University and the staff from the risk of contacting the virus,� he said, adding that his institution has provided taps and soap dispenser for regular hand washing, and that the use of face mask is compulsory. “In line with the NCDC requirement for medical facilities, Lagos State University has a COVID-19 team to keep the university on its toes in ensuring compliance. Isolation places have been provided in the university.

There are waiting areas and consultations rooms available in the university. With the prepared roadmap, LASU is prepared to accommodate students and visitors. Visitors are implored to kindly comply with the laid-down rules,� he said.

The Vice-Chancellor, Anchor University, Lagos, Professor Joseph Afolayan said its online programmes are still running, adding that the institution plans to write its second semester exams by mid-September.

For students resumption he said: “We have reshuffled the arrangements of students in

our hostels to allow for more space. The carrying capacity of the hostels will take more than twice the number on campus now. We don’t have any problem with classrooms, we have more than enough space for that. “There are new points for washing hands around the campus and we have soaps at all the points. The university has been producing hand sanitisers and nosemasks, so we always have enough to go round. All staff and visitors on campus are already following the new rules in terms of checking their temperature and washing their hands, and we won’t have any problem getting students to fall in line.�

The Vice-Chancellor, Edwin Clark University, Kiagbodo, Delta State, Professor Timothy Olagbemiro said his institution is complying with the protocols prescribed by the Presidential Task Force on COVID-19, and the Nigeria Centre for Disease Contol for reopening of the universities, safely and securely.

Olagbemiro, who doubles as the Chairman, Committee of Vice-Chancellors and Registrars of Private Universities, said the body had initiated actions and programmes to enable all its member private universities to prepare for reopening and had also put in place strategies to open and finish the session well.

He said his institution has made provisions for, and use of infrared thermometers at the university’s main gates, hand devices and washing with soap, use of sanitizers and observance of social distancing.

With a small fully residential campus, the VC said the university has planned a phased reopening that will ensure that 400 level students resume alongside 100 level students so that they can complete sufficient lectures for their second semester. “Chapel activities would be conducted as usual and together once every Wednesday, while observing social distancing. There will be resumption of first cohorts of about 400 students who will be accommodated on campus for the first four weeks. Lectures and practicals will be conducted for final year students during this period. All final year students would have three weeks to complete their projects.�

Semester examinations would also be conducted during the fourth and fifth weeks for all 400 level students, as Olagbemiro added that all final year external examiners would be conducted on campus during the fifth week. “Vacation of all 400 level students from the campus will be at the end of the fith week. All 100 level students would remain on campus for extra four weeks

to complete their second semester classes and examinations. All 200 and 300 level students will return to campus and join the 100 level students for two weeks of lectures and practicals. “Matriculation would be held for all 100 level and new students before the conduct of the second semester examinations.

Thereafter, examinations would be taken for two weeks before the students vacate.�

Olagbemiro said the institution has also directed that every student must resume with six face masks in compliance with the COVID-19 protocols.

The Deputy Vice-Chancellor, Federal University, Oye-Ekiti, Ekiti State, Professor Abayomi Fasina has been saddled with the responsibility of chairing the COVID-19 response committee of his institution and advise the university on what should be put in place for resumption of students.

Unfortunately, the strike by the Academic Staff Union of Universities (ASUU) may delay its resumption. “We have not been able to hold online classes as most private universities are doing as a result of the strike. We have the facilities for virtual teaching, but because of ASUU strike. The content to be delivered is going to come from ASUU, if they don’t supply, then we can’t upload anything to teach the students. “Our plan is that once ASUU calls off its strike, we plan to give our students data to come online as some of them are from indigent homes, so that we can deliver lectures. We are also putting in place all the strategies and facilities. We have increased our bandwidth on campus.

We have also gotten in touch with some telecommunications organisations.�

The DVC expressed hope of a positive outcome of ASUU’s negotiation with the federal government, saying that once the parties are able to settle, ASUU will give a directive for lectures to commence virtually, including a phased resumption of students physically in school and ensuring safety guidelines. “The federal government should enhance the welfare of lecturers. The students have been eager to come back to school, they are tired of sitting at home, even the lecturers too are tired of sitting at home. When you bring them back to school, and the facilities are in place, they are refreshed. “In most institutions, everybody wants to go virtual. The dynamics of university administration is going to be tough postCOVID-19 era, and business will not be as usual again where we used to have a very large class. Online exams will be by CBT,� Fasina stressed.

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T H I S D AY ˞ ͡, 2020

EDUCATION

Increased Access to Education, Key to Poverty Reduction, Says Obi The Vice-Presidential candidate of the Peoples Democratic Party (PDP) in the 2019 general elections, Mr. Peter Obi, has stated that improved access to education remains a critical key strategy that could be employed to reduce poverty in the country.

Obi said Nigeria would successfully move millions of people out of poverty if “we invest more in education which remains a key sector of economic growth.�

Obi, who made this known in a message to celebrate the International Literacy Day 2020, said access to quality basic education is a globally recognised solution to breaking the chains of poverty, especially in developing countries like Nigeria.

He explained that the International Literacy Day celebration provided Nigerian leaders another opportunity to reflect on their contributions towards educational provisions to Nigerian children who had no access to good education.

He stated that consequent upon the changing nature of the global economy, driven by technological advancements and

globalization, it is now more important than ever to invest in human capital and ensure that everyone has access to basic education to ensure success in life.

Maintaining that investment in human capital through investment in education not only reduces poverty level, Obi said it also reduces income inequality and promotes economic growth and national development.

He asserted that a developing country like Nigeria, truly desirous of lifting millions of its citizens out of poverty, must invest in education, especially at the basic level. “We are once again provided with another opportunity to reflect on our commitments to education, which remains the easiest and surest way of reducing poverty and fostering economic growth and development. Every Nigerian child deserves access to quality education that will equip him with the knowledge and skills required for the future. Nigerian leaders must therefore encourage education with substantial financial commitment to the sector,� Obi said.

Greensprings IB Diploma Students Bag $4.7m Scholarships from Top Varsities The IB Diploma students of Greensprings School have won scholarships that amount to $4.7 million from top universities and colleges across the world.

The Dean of IB Diploma, Mr. Olubunmi Solola, who announced this, said this is the second consecutive year that students of the school have won a huge amount of money from scholarships. “Last year, our IB Diploma students were admitted to the universities and colleges of their choices, and they were awarded a sum of $1.3 million worth of scholarships. We are extremely happy that this year our students got almost four times the amount of last year’s scholarships. This accomplishment shows why a growing number of students all over the world are ditching A-Level schools for IB Diploma schools, as reported in the Independent Newspaper,� he said.

Solola added that Greensprings’ IB Diploma students attained such feat because of the robustness of the programme. By the standard of IBO (the organization in charge of IB Diploma), aside from learning the main subjects, students are groomed to acquire essential life skills such as discipline, confidence, self-motivation, time management, among others. Unlike A-Level schools in Lagos and across Nigeria, he said IB Diploma schools expose students to three core elements of its rich curriculum.

“These elements are Theory of Knowledge (TOK), which helps students reflect on the nature of knowledge and on how they know what they claim to know; the extended essay, which is an independent, self-directed piece of research, finishing with a 4,000-word paper; and creativity, activity, service (CAS), which is a community service project. “Going through these core elements of the IB Diploma curriculum prepares the students for life in university; it also makes the world’s top universities and colleges to prefer students of IB Diploma over students of other post-secondary-school programmes.�

The Greensprings IB Diploma school is located in its Lekki Campus, which was purpose-built with ultra-modern teaching and sports facilities. To mention a few, some of the world’s top tertiary institutions that Greensprings IB Diploma students are admitted into include the University of Manchester, King’s College London, University of Leeds, University of Alberta, University of Toronto, University of Warwick, among others.

The duration of the programme is two years and as it is required in many A-Level schools in Lagos and all over Nigeria, students seeking admission into IB Diploma must have five credits in their O’Levels (GCSEs, IGCSEs or WASSCE).

A cross-section of some graduating students of Greensprings IB Diploma School

Alleged Misconduct: Ekiti Group Berates ASUU over Attack on FUOYE, EKSU Mgt Mary Nnah A group, Ekiti Progressives (EP), has chided the Academic Staff Union of Universities (ASUU) over its alleged attack on the managements of the Ekiti State University (EKSU) and Federal University Oye-Ekiti (FUOYE), alleging that the zonal branch of ASUU, Akure and the branches of the union in EKSU and FUOYE are becoming enemies of progress to the two universities in the state.

The EP was reacting to allegations recently made by ASUU against the managements of the two institutions that they were involved in misconducts ranging from misappropriation of funds, secret recruitment without due process and nepotism, among others.

The Zonal leader of ASUU, Akure, Prof. Olu Olufayo and the Chairman, ASUU FUOYE, Dr. Biodun Omonijo and others had alleged that management of the institutions were guilty of the aforementioned misconducts, but EP, an indigenous group of stakeholders, which identified itself as representing the interest of Ekiti indigenes who are staff of both universities, in a statement signed by its spokesman, Mr. Olabisi Adesua, alleged that the union has been playing politics of bitterness against the management and causing its members to suffer in the process.

The statement titled: ‘ASUU and two Universities in Ekiti’ read: “For keen observers who would have been following the unhealthy relationship between ASUU and the respective management of the two universities in Ekiti State, i.e Federal University OyeEkiti (FUOYE) and Ekiti State University (EKSU), it won’t be difficult to have noticed that ASUU has over time, become a perpetual trouble maker taking delight in rocking the boat and constituting nuisance for the twin management of the varsities. “As a matter of fact, the local branches of ASUU in the two universities have consistently played successive politics of bitterness manifesting in militant unionism which

continue to jeopardize a healthy relationship that ought to exist between the management of the twin citadels of learning and ASUU as a trade union.

Rather than promoting peaceful co-existence by engaging in healthy dialogue, constructive criticism of the activities of management in order to generate a symbiotic rapport that guarantees continuous protection of the interests of ASUU members before the management, they have continued on a self-destructive journey of recklessly opposing the management and mindlessly rocking the boat to create bad blood and unjustified enmity among stakeholders.�

The group added: “Sadly, the consequences of such awful development have been poor welfare for ASUU members, lack of a sense of belonging as members, unhealthy rivalry among members and poor growth and development of the union on all fronts. “The unwholesome development caused by some dissenting ASUU members in FUOYE has been largely suffered by members of ASUU themselves.

A case in point is the brouhaha created by a former local chairman and disowned member of ASUU in the university, Dr, Gabriel Omonijo, who has been a thorn in the flesh of the management and a black sheep of ASUU in FUOYE. Interestingly our findings about Omonijo revealed that he has been suspended from FUOYE for allegedly diverting TETFund funds for other purposes. “While members of ASUU in FUOYE have consistently lamented poor welfare and poor growth of the union in all ramifications, Omonijo’s ignoble leadership style has terribly factionalized the union to the effect that there are currently five factions of ASUU in FUOYE namely, Academic Staff Concerned Group; Congress of Nigerian Academics; New Academic Staff Union of FUOYE and the remnant of ASUU which tagged itself Concerned Academic Staff of FUOYE and other stakeholders who have been vehemently opposed to

Omonijo’s unpopular faction. It should be noted also that all the five factions, except Omonijo’s, have been in firm support of the management. “As already in the public glare via the media, Omonijo and his co-travelers, i.e a disgruntled ASUU zonal leader, Akure, Prof. Olu Olu and others, have constituted themselves as nuisance to the management of FUOYE over allegations of misconduct they raised against the school’s management led

by Prof. Kayode Soremekun.

Such allegations include alleged financial misappropriation, secret recruitment, illegal sack of ASUU members and promotion without due process among others. Unfortunately for this crop of so-called intellectual activists of ASUU, they have failed to prove the aforementioned allegations against the management.�

The statement further read: “Meanwhile, FUOYE management has not only continued to dismiss the allegations as false and baseless, but also constantly challenged Omonijo and his cronies to bring forth proof of them. Instead of providing such proof and coming with clean hands, these enemies of progress have repeatedly sponsored such falsehood in the media just to satisfy their devilish intentions to cause chaos and disaffection.�

While reminding ASUU that its primary role is to ensure the protection of the interests of members in the institutions, the group alleged: “But ASUU of Omonijo’s crop in FUOYE has failed in this respect, and rather engage in politics of bitterness and mudslinging against the management. While lack of a purposeful leadership by Omonijo has resulted into a host of unpalatable consequences i.e factionalization of the union, unhealthy rivalry, lack of adequate welfare and lack of a sense of belonging among ASUU members, the university management under Prof. Soremekun has continued to record commendable achievements which have greatly impacted on the university community and all relevant stakeholders. “Prof. Soremekun with the

kind support of his management team, including the DVC, Administration, Prof. Abayomi Fasina, DVC, Academics, Prof.

Olusola Ojo, the university Bursar, Mrs. Bolanle Akande, acting Registrar, Mr. Mufutau Ibarahim, and the VC’s Director of Administration and Special Duties, Mr. Odunsanya Olatunbosun, have recorded outstanding achievements for almost five years. “For the record, FUOYE had five faculties offering 30 academic programmes in 2016 when Soremekun came on board. But by the time the school had her 20/21 virtual matriculation ceremony for fresh students on July 28, 2020, the university already had the number of faculties shot up to 11 with 75 academic programmes. Not only that all these programmes are fully accredited, the recent additions are not mere academic courses, they include programmes in faculties of Law, Pharmacy, Basic Medical Sciences, and Environmental Studies, among others. “Soremekun and his team has not just succeeded in ensuring a rapid growth in terms of academic programmes, he is perfecting the success with proportional growth in infrastructural development.

Since 2016 till date, the management has completed over seventy projects that include the ultra-modern Faculty of Pharmacy building, ultramodern faculty of Agriculture, and the well-equipped media studio facility for students of Mass Communication, the ultra-modern Faculty of Basic Medical Sciences, Faculty of Management Sciences complex and academic building for the Faculty of Environmental Studies, among others. “Indeed, the university management’s achievements in the aforementioned areas have engendered further commendable achievements; the number of students has risen from over 7,000 in 2016 to well over 24,000 currently.

FUOYE now ranks among the top 200 universities in Africa according to a recent Webometric ranking,� it said.

34

T H I S D AY ˞ ͡, 2020

EDUCATION

STEM Career for Girls: NSPM Boss Pledged Support for APWEN Funmi Ogundare

T

he Managing Director, Nigeria Security Printing and Minting (NSPM) PLC, Abass Umar Masanawa has expressed his organisation’s readiness to support the Association of Professional Women in Engineering (APWEN’s) quest to ensure that girls embrace a career in Science, Technology, Engineering and Mathematics (STEM).

He said his organisation will institute a scholarship programme to encourage the association’s programme especially in Katsina State.

Masanawa, who made this known, weekend during the virtual inauguration of APWEN’s Katsina chapter, said in order to improve women’s involvement in STEM, apart from advocacy, policy makers can do more by putting measures in place to encourage it.

In his keynote address titled ‘The Role of Women in STEM Careers in National Development’, he said, “policy makers need to measure their performance and take statistics of girls in STEM so that we will know whether we are doing well. We need to ensure that people aspire to do their best.�

He suggested ways to improve women’s involvement in STEM to include: developing projects specifically aimed at bringing innovations to STEM education; inspiring secondary school girls to pursue engineering and facilitate female STEM students to lead the way; establishing STEM talents innovation lab for secondary school girls.

Other methods according to the managing director are; partnering with STEM

KEHINDE OMORU www.kayomoru.com

A COMPLETE MAKEOVER

Masanawa companies to facilitate scholarship opportunities for women graduates; encouraging STEM industries to make the work environment more attractive to female employees, among others. “When you educate a woman, you educate a nation. 90 per cent of future jobs will require skills in ICT, unfortunately, women are underrepresented in STEM due to cultural, gender prejudices, stereotypes

and lack of opportunity,� he said.

In her remarks, the President of the association, Mrs. Funmilola Ojelade lauded the support and contribution of the chairman of the Nigerian Society of Engineers (NSE) Katsina branch for mentoring women engineers and ensuring that they are connected to the APWEN body.

She said plans are still on to hold the Katsina chapter

of its Invent It, Build It scholarship programme.

In her inaugural speech, the Chairperson of the association’s Katsina chapter, Mrs. Aisha Muktar Lawal promised to look after the interest of APWEN. “The significance of what we do will have a great impact on our profession.

I assure you of our readiness to work with the leadership of NSE to move the association forward.�

Stakeholders Commend Obaseki for Establishing EdoBEST Education stakeholders in Edo State have commended the administration of Governor Godwin Obaseki for creating the Edo Basic Education Sector Transformation programme (EdoBEST), saying that the rate of school vandalism has significantly reduced.

EdoBEST, which is one of Obaseki’s flagship programmes, has driven this change through its community engagement initiatives which form one of its five pillars.

The initiative involves the reconstitution of the School-Based Management Committees (SBMCs) and deployment of a large team of social mobilization officers (SMOs). As a result of these engagement initiatives, community members now have a stronger sense of responsibility to the schools in their communities.

The SBMC Chairman, Obe Primary School, Chief Adeboye Amu, who has also been saddled with ensuring that pupils can safely cross the busy Afuze-Auchi Road said, “EdoBEST has trained and empowered me, thereby making me more involved in the activities of the school.�

He said even after getting all the necessary permissions from the board and LGEA, contractors are working on the planned interventions for the school.� I am the main focal person they meet as I am directly in charge of the school. I oversee the planned intervention, and work with them in a supervisory role to ensure that the stated aim of the intervention is achieved.�

He said there has also been an increased community engagement at the school, adding that this

has led to an improvement in school maintenance. “The grass has already been cut by community youths and all of the school’s facilities and offices are intact and in good condition.�

To boost a sense of community ownership, the government mandated that all school construction and renovation projects be contracted to indigenous contractors to encourage and strengthen local businesses.

At the construction site of a brand new toilet and water borehole facility in Igarra, the Chief Executive Officer of M-Fat Resources Enterprises, an indigenous construction company, Mr. Maliki Fatai, shared his experience.

According to him, “I am delighted by the local content development and patronage of local contractors by Governor Obaseki.

I now inspect school renovations done by other contractors to ensure that they are completing the work properly.

He said the Obasekiled administration has invested in ensuring that all school renovations in the community are done well, irrespective of who is doing the job. He stressed the need for the government to continue to patronise local businesses.

The Education Secretary of Owan West, Mr. Peter Ilegar said the synergy between him, other education secretaries and members of their respective communities has improved. “The disharmony, tribal issues and theft experienced in the past in my LGEA have been reduced to the barest minimum, due to the cordial working relationship with community members.�

So far, it’s been a year to remember! The reminisces it already holds for one and all have been as varied as our faces, faiths and fates. Hope yours have not been too bad or irreparable.

The bleakness COVID-19 cast on the world from the end of March and sustained for two months thereafter is beginning to wane as we are gaining more and more knowledge of Coronavirus and the medication-combo that effectively tackles it. Although the vast majority of our people couldn’t afford COVID medications, the good news is that we can largely avert this infectious disease.

One thing remains relatively affordable world-wide; and that is to: wear a face mask in communal spaces. Ëž Ă‹Ă“Ă˜ĂžĂ‹Ă“Ă˜ Ă‹ ÞåÙ Ă—Ă?ĂžĂ?Ăœ ĂŽĂ“Ă?ĂžĂ‹Ă˜Ă?Ă? Ă?ĂœĂ™Ă— Ă?Ù×Ă?Ă™Ă˜Ă? Ă?Ă–Ă?Ă? Ëž à ÙÓÎ touching your face. Ëž Ă‹Ă“Ă˜ĂžĂ‹Ă“Ă˜ Ă?ĂœĂ?Ă›Ă&#x;Ă?Ă˜Ăž Ă’Ă‹Ă˜ĂŽ Ă’ĂŁĂ‘Ă“Ă?Ă˜Ă?Ë› Ëž Ă?Ă?Ă• Ă“Ă—Ă—Ă?ĂŽĂ“Ă‹ĂžĂ? Ă—Ă?ĂŽĂ“Ă?Ă‹Ă– Ă‹ĂŽĂ Ă“Ă?Ă? Ă?Ă™Ăœ Ă?ã×ÚÞÙ×Ă?Ë? Ă?Ă&#x;Ă?Ă’ Ă‹Ă? Ă‹ high temperature, protracted coughing and general malaise.

And has it been a year to re-evaluate personal priorities?

Definitely so! In April, a colleague at work (Mavis) kept on chanting, “COVID, you do well o� until I got a bit irritated by her rants and took her to the side for a low-down on what she was celebrating. It turned out that the lock-down worldwide had brought on a cancellation of the huge ‘Owanbe’ 80th party her family would have been throwing round about now in their village. According to Mavis, at the turn of 2020, she had worried greatly about how she would ever come up with the millions of naira she was being expected to provide (being the first born and adjudged to be rich) for her mum’s birthday party. She shared how she already registered with three other agencies to widen her scope for jobs. The sad thing is that Mavis would have been doing back to back long hours of work in order to: buy the return tickets for her family; buy the party essentials from foods, rentals to aso-ebi, to name but a few of the obligations culture places on the consenting in Nigeria.

I couldn’t but enthuse with Mavis on this one! Mama’s 80th birthday party was indeed celebrated from everyone’s virtual window, all of us ladies from all over the diaspora tuning in, clad in our pyjama bottoms, lace buba tops and with gele headgears. Mavis shared that her mental health has since recovered, she has been spared of the strain and stress of doing crazy-hours work shifts, and her priorities are now completely changed.

Armed with this experience I’ve been asking people what COVID-19 has meant to them. I’d like to share with you ÞÒĂ? Ă?Ă™Ă–Ă–Ă™ĂĄĂ“Ă˜Ă‘ ĂžĂ’Ă“ĂœĂŽ Ă›Ă&#x;Ă‹ĂœĂžĂ?Ăœ ĂœĂ?Ă‹Ă–Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ă? Ă‹Ă˜ĂŽ ĂœĂ?Ă?ÙÖĂ&#x;ĂžĂ“Ă™Ă˜Ă? people told me they’ve experienced and made to their lives during lockdown and post-COVID lockdowns: Ëž Ă˜Ă™ĂĄ Ă?Ă&#x;Ă–Ă–ĂŁ ĂœĂ?Ă‹Ă–Ă“Ă?Ă? ÞÒËÞ Ă˜Ă™ĂžĂ’Ă“Ă˜Ă‘ Ă“Ă? Ă?Ă˜ĂžĂ“ĂœĂ?Ă–ĂŁ ĂšĂœĂ?ĂŽĂ“Ă?ĂžĂ‹ĂŒĂ–Ă?Ëž neither life, nor plans, or people. Ëž ÞÙÙÕ Ă™Ă˜ Ă‹Ă˜ Ă™Ă˜Ě‹Ă–Ă“Ă˜Ă? Ă?Ă•Ă“Ă–Ă–Ă?Ě‹Ă?Ă™Ă&#x;ĂœĂ?Ă? ĂŽĂ&#x;ĂœĂ“Ă˜Ă‘ ÞÒĂ? Ă–Ă™Ă?Ă•ĂŽĂ™ĂĄĂ˜ and have now started practising a trade I enjoy better than my paid job. Ëž ËŞĂ Ă? Ă™Ă&#x;Ăž ÞÒĂ? Ă?Ă’Ă?ĂŽËšĂ?ĂžĂ™ĂœĂ? Ă‹Ă˜ĂŽ Ă‘Ă“Ă Ă?Ă˜ Ă‹ĂĄĂ‹ĂŁ Ă&#x;Ă˜Ě‹Ă˜Ă?Ă?ĂŽĂ?ĂŽ ÚÙĂ?sessions to charity. Ëž ËŞĂ Ă? Ă?ĂšĂ?Ă˜Ăž Ă›Ă&#x;ËÖÓÞã ÞÓ×Ă? åÓÞÒ Ă—ĂŁ Ă?ÚÙĂ&#x;Ă?Ă?ËšĂšĂ‹ĂœĂžĂ˜Ă?Ăœ Ă‹Ă˜ĂŽ children; wish I had created time for this before. Ëž ĂŽĂ“Ă?Ă?Ùà Ă?ĂœĂ?ĂŽ Ă—ĂŁ ÞËÖĂ?Ă˜ĂžËœ ĂŽĂ?Ă Ă?ÖÙÚĂ?ĂŽ Ă“Ăž Ă‹Ă˜ĂŽ ËŞĂ— Ă?Ă&#x;ĂœĂœĂ?Ă˜ĂžĂ–ĂŁ gaining proficiency in it. Ëž ĂœĂ?Ă Ă“Ă?ĂĄĂ?ĂŽ Ă—ĂŁ ĂšĂœĂ“Ă™ĂœĂ“ĂžĂ“Ă?Ă?Ëœ Ă‘Ă‹Ă Ă? Ă&#x;Ăš Ă—ĂŁ ËŠĂŒĂ‹Ă‘Ă‘Ă‹Ă‘Ă?Ă?ËŞ Ă‹Ă˜ĂŽ ËŞĂ— living a simpler life now. Ëž ĂœĂ?Ă‹Ă?Ă?Ă?Ă?Ă?Ă?ĂŽ Ă—ĂŁ Ă?ĂšĂ“ĂœĂ“ĂžĂ&#x;ËÖÓÞã Ă‹Ă˜ĂŽ Ă?Ă™Ă&#x;Ă˜ĂŽ ÞÒĂ? Ă–Ă?Ă Ă?Ă– ËŞĂ— ĂšĂœĂ?Ă?ently at without my pastor bending over me. My yearning for God has grown due to the realisation that it has taken just a microscopic element to bring the whole world to a stop. Ëž ËŞĂ— ËÚÚËÖÖĂ?ĂŽ Ă‹Ăž ÞÒĂ? Ă’Ă&#x;Ă‘Ă? ÚÓÖĂ?Ă? Ă™Ă? Ă‹Ă?Ù̋Ă?ĂŒĂ“ ËŞĂ Ă? ĂŒĂ™Ă&#x;Ă‘Ă’Ăž Ùà Ă?Ăœ the years. I would have built a house or bought a land by now if I haven’t been this blind! Ëž ĂŁ Ă Ă‹Ă–Ă&#x;Ă?Ă? Ă’Ă‹Ă Ă? Ă?Ă’Ă‹Ă˜Ă‘Ă?ĂŽË› Ă™Ă˜Ă–ĂŁ ĂŒĂ&#x;ĂŁ ĂĄĂ’Ă‹Ăž Ă˜Ă?Ă?ĂŽ Ă‹Ă˜ĂŽ Ă˜Ă™Ăž what I want. Ëž Ă‹Ă— Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă˜Ă&#x;ĂœĂžĂ&#x;ĂœĂ“Ă˜Ă‘ ÑÙÙÎ ĂœĂ?Ă–Ă‹ĂžĂ“Ă™Ă˜Ă?Ă’Ă“ĂšĂ? ĂŒĂ?ÞÞĂ?Ăœ Ă˜Ă™ĂĄË› I make time to be available for the needs of others Ëž Ă‹Ă— Ă–Ă“Ă Ă“Ă˜Ă‘ Ă—ĂŁ Ă™ĂĄĂ˜ Ă–Ă“Ă?Ă? Ă˜Ă™ĂĄËž Ă˜Ă™Ăž Ă?Ù×Ă?Ă™Ă˜Ă? Ă?Ă–Ă?Ă?ËŞĂ?Ë› ËŞĂ— ĂŽĂ™Ă˜Ă? faking it! Ëž ̋ͯ͡ Ă’Ă‹Ă? Ă’Ă?Ă–ĂšĂ?ĂŽ ÞÙ Ă?ÖÙå Ă—Ă? ĂŽĂ™ĂĄĂ˜ ĂšĂ?ĂŁĂ?ÒÙÖÙÑÓĂ?Ă‹Ă–Ă–ĂŁË› The urgency I formerly placed on targets and goals have gone. I am currently more self pacing and in control of my responses. Ëž Ă’Ă‹Ă Ă? ĂŒĂ?Ă?Ù×Ă? Ă—Ă™ĂœĂ? Ă“Ă˜Ă?Ă–Ă“Ă˜Ă?ĂŽ ÞÙ ÞËÕĂ? Ă?Ă‹ĂœĂ? Ă™Ă? Ă—ĂŁ Ă’Ă?ËÖÞÒ and wellbeing. I am more mindful of what I eat and drink. Ëž Ă?Ă&#x;ĂœĂœĂ?Ă˜ĂžĂ–ĂŁ Ă?Ă?Ă?Ă• ĂŒĂ‹Ă–Ă‹Ă˜Ă?Ă? ĂŒĂ?ÞåĂ?Ă?Ă˜ ĂĄĂ™ĂœĂ• Ă‹Ă˜ĂŽ ĂœĂ?Ă–Ă‹Ă˘Ă‹ĂžĂ“Ă™Ă˜Ëœ on a macro and micro basis. Ëž Ă’Ă‹Ă? Ă’Ă?Ă–ĂšĂ?ĂŽ ÞÙ ĂĄĂ“ĂŽĂ?Ă˜ Ă—ĂŁ Ă?Ă?ÙÚĂ? Ă™Ă? Ă•Ă˜Ă™ĂĄĂ–Ă?ĂŽĂ‘Ă? Ă‹ĂŒĂ™Ă&#x;Ăž my country and her place in the world. Media headlines have changed and comparative analysis of goings-on amongst nations are in the air. Ëž Ă‹Ă— Ă?Ă?Ă?Ă“Ă˜Ă‘ ÞÒĂ? ĂšĂœĂ™Ă? Ă™Ă? ĂĄĂ™ĂœĂ•Ă“Ă˜Ă‘ Ă?ĂœĂ™Ă— ÒÙ×Ă?Ë› Ă’Ă‹Ă Ă? ÞÒĂ?ĂœĂ?Ă?Ă™ĂœĂ? reduced my office hours and created an office at home. Ëž Ă‹Ă— Ă“Ă—ĂšĂœĂ™Ă Ă“Ă˜Ă‘ Ă—ĂŁ Ă?Ă•Ă“Ă–Ă–Ă? Ă‹Ăž ĂœĂ?Ă?Ă“Ă–Ă“Ă?Ă˜Ă?Ă? Ă‹Ă˜ĂŽ Ă‹ĂŽĂ‹ĂšĂžĂ‹ĂŒĂ“Ă–Ă“ĂžĂŁË› These two behaviours are key to surviving the economic Ă?Ă™Ă˜Ă?Ă?Ă›Ă&#x;Ă?Ă˜Ă?Ă?Ă? Ă™Ă? ÞÒÓĂ? Ă‘Ă–Ă™ĂŒĂ‹Ă– ĂšĂ‹Ă˜ĂŽĂ?Ă—Ă“Ă?Ë› Ëž Ăž Ă’Ă‹Ă? ĂŒĂ?Ă?Ù×Ă? Ă?Ă‹Ă?Ă“Ă?Ăœ Ă?Ă™Ăœ Ă—Ă? ÞÙ Ă?Ă—ĂŒĂœĂ‹Ă?Ă? Ă?Ă’Ă‹Ă˜Ă‘Ă?Ë›

has made us all change and I am liking the new flexible me. Ëž Ù××Ă&#x;Ă˜Ă“ĂžĂŁ Ă?Ă?ĂœĂ Ă“Ă?Ă? Ă’Ă‹Ă? ĂŒĂ?Ă?Ù×Ă? Ă Ă?ĂœĂŁ Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž Ă‹Ă˜ĂŽ rewarding to me. I have been helping my elderly and sick neighbours; their relief and comfort makes me happy. Ëž Ă?ĂœĂ’Ă‹ĂšĂ? ÞÒĂ? Ă—Ă™Ă?Ăž Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž Ă–Ă?Ă?Ă?Ă™Ă˜ Ă?ĂœĂ™Ă— ÞÒËÞ

have learnt so far is that true power lies in the invincible world - the world we cannot see.

Mrs Kehinde Omoru writes from the UK

35

T H I S D AY ˞ ͡, 2020

Bridge Academies Engage Children through Stanbic IBTC Launches Scholarship Learning Resources Scheme for Nigerian Undergraduates Funmi Ogundare

Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, has called for applications for the maiden edition of its 2020 scholarship programme.

The programme which kicked-off on September 1, is aimed at encouraging hard work and academic excellence among Nigerian undergraduates. It is open to students who participated in the 2020 Unified Tertiary Matriculation Examination (UTME) and have a minimum score of 200.

They must have also gained admission into any of the tertiary institutions.

The scholarship, valued at N40 million, would be spread across four years and disbursed in tranches of N100,000 per academic year.

The Chief Executive, Stanbic IBTC Holdings PLC, Dr. Demola Sogunle, said subsequent disbursement of the funds would be based on the maintenance of at least second class upper grade and good conduct of the student as referenced by the university. “The organisation recognises the importance and impact of education in the life of every Nigerian youth. Education empowers and encourages the youths to prepare for the

future while also confronting challenges. Education is a panacea for growth and enduring development of any nation or organisation,� he said.

He reiterated that apart from making deliberate efforts to cushion the effect of the economic hardship caused by the pandemic on parents and guardians, the Stanbic IBTC 2020 scholarship programme would also seek to reward exceptional candidates who demonstrate academic excellence and good character.

While assuring members of the public of the organisation’s commitment to the development of Nigerian youths, Sogunle said, “over the years, we have demonstrated our obligation to the future leaders through the various plans and programmes geared towards supporting their dreams and aspirations. One of such programmes is the annual Stanbic IBTC Youth Leadership Series (YLS), which engages Nigerian youth on how to explore their innate potentials to become better business leaders.�

Upon the close of entries and completion of the scholarship process, 100 successful applicants will be offered their scholarship letters.

In an effort to mitigate the effect of the closure of schools and ensure continued access to quality and equitable education, Bridge International Academies are providing free learning resources to keep children engaged and entertained.

The Spokesperson at Bridge Nigeria, Mr. Femi Awopetu said Bridge realised that keeping pupils at the centre of a holistic programme that meets the needs of all stakeholders is imperative. “We continue to provide practical support to governments, parents and caregivers through learning at home, and educating them on ways

to help children better understand the pandemic.�

He said Bridge provides learning resources for each grade or class level for children based on the national curriculum.

The resources he noted, include learning guides which help children complete different learning activities for each subject, self-study activity packs which are designed to help children complete different tasks, providing hundreds of stories through the virtual storybook library to help children practice literacy and free mobile interactive quizzes that children can take directly on WhatsApp. The spokesperson said the new normal has af-

fected education access, quality and equality, as well as propelled the reshaping of education delivery. “Bridge believes that it’s not just about ensuring that children are participating in learning activities, but ensuring that learning is actually happening. Every aspect of remote learning resources should be intended to make learning a science, with a feedback loop that drives continuous improvement.�

A parent, Mrs. Funke Akinpelu who resides in Ikeja said she is always excited when she sees activities that are easy-todo, exciting and mentally tasking for her children.

According to her, this was how she felt when the mobile interactive quizzes were introduced to her by her friend. “I didn’t hesitate to introduce the quizzes to my children after attempting some of the Maths, English and Science questions myself.�

She described the WhatsApp quiz as different from her children’s remote learning lessons, saying that it keeps them busy doing something different and interesting. “I get to do other things while my children are actively engaged with the quiz. They are particularly happy that they get instant feedback about whether their answers are correct or not.�

Don’t Compare Your Child to Others, Parents Told The Proprietress of Mabest Elementary School, Professor Adebukola Osunyikanmi has stated that the language development of a child should be compared with norms rather than other children, adding that language development reflects the growth and maturity of the brain. “This is what I always let the parents know when they are worried about the early language development of their children,� she said at a recent event.

According to her: “I always let them know that the early years of a child till the age of five is the period when they develop their language at a very fast rate. Girls develop language at a faster rate than boys, so it’s not surprising that even as adults the men can’t seem to flow as fast as women especially on the responsive level. “I always advice parents to watch their language in the presence of their children because this is what will serve as the foundation of the child, you see the ability of a child to comprehend language usually develops faster than their ability to communicate. Just like a bank account you can only take from what you have saved. “I used the bank as an illustration because it is quite easy for every parent to relate with such, when I tell them that at Mabest Elementary School, we give the best to

our pupils we also need the parents to give their best so that together we can build future leaders that we will always be proud of anywhere and at any place,� she said.

Osunyikanmi added: “We make sure that our preschool pupils can converse, as well as understand most of what they hear. Most of our fiveyear-old pupils can tell stories that stay on the topic, while our six-year-old pupils can correct their own grammar and mispronunciations. I always try to put the minds of parents who worry about their little children at rest. “Yes, language delay is the most common developmental delay that most children experience. However, this is resolved under the age of three especially if the child is in an environment like ours where we encourage the pupils to speak their minds and express themselves freely. This in no little way helps build the confidence of these children. We also let parents know that in our society where our children born into bilingualism you know learning the native language as well as English Language this is equivalent to other children’s comprehension of just one language.�

Osunyikanmi, who is also a lecturer said she is passionate about the welfare of children because they are seeds and what parents and guardians plant is what they will reap.

L-R: The lawmaker representing Anambra Central Constituency in the National Assembly, Senator Uche Ekwunife; the the Provost, Federal College of Education (Technical) Umunze, Dr. Tessy Okoli; and the Registrar, Augustine Udensi inspecting the electronic tablets, which Ekwunife attracted to the College through the Nigeria Communication Commission (NCC)... recently

Foundation Empowers 50 Students with GCE Forms Oluchi Chibuzor

The Oladipupo Clement Empowerment Foundation has donated free General Certification Examination (GCE) forms to about 50 teenagers to ease the economic pressure on their parents during the COVID-19 pandemic.

The donation was part of the non-governmental organisation’s effort in reducing the number of out-of-school children in the country and to remove the psychological trauma of children with poor parents.

Speaking during the donation exercise recently, the founder, Clement said a child’s inability to get quality education gets worse during harsh economic times as job losses and

fear for the future put stress on families.

He said this stress needs to be eased by stakeholders, individuals who have made it in the society over the years. “The foundation believes that it is the responsibility of all well to do Nigerians to participate in educating at least one child in their community because many are left with emotional and psychological trauma to deal with as they cannot afford the form.�

Worried by the rising number of out of school children in Nigeria, Clement, a wealth creation and financial coach explained that “the foundation aims to reduce the awkward figures of out-of-school children in Nigeria to

the lowest minimum. “Oladipupo Clement Empowerment Foundation aims to reduce the number of vulnerable children with no access to quality education.�

He said the 50 teenagers were offered scholarships under the Uncle Ope Global Concepts www.oladipupoclement. com “Living in a community with a large number of uneducated children is a serious societal issue and one that we all need to address. We can do that by supporting agencies that work on behalf of children. Every child’s education is important.�

The foundation which was established out of personal struggles and challenges is out to impact the future of underprivileged children

in Nigerian society.

Clement therefore called for effective synergy from various sectors, saying, “together we can alleviate the sufferings of underprivileged children through partnership with the foundation to help give one child a new beginning. Educating a child is everyone’s job.�

The Oladipupo Clement Empowerment Foundation is a not-forprofit and non-political organisation focused on creating a platform for the all-round educational needs of outstanding, but indigent youths in Nigeria through scholarships, grants, and educational support.

It is not just focused on academics, but also prioritises vocational, technical, professional and executive education.

36

T H I S D AY ˞ ͡, 2020

CITYSTRINGS

ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? äĂ?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?äĂ?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ ͙͖͓͓͖͓͔͓͖͑͒

Oyo Tackles Infrastructural Challenges Kemi Olaitan writes that through the Alternative Project Funding Approach, Governor Seyi Makinde has positioned Oyo State to confront challenges of infrastructural deficiency

T

hat there is deficiency in infrastructure at all levels of government in the country, federal, states and local governments, is no longer news. What is unfortunate is that the deficiency has impacted negatively on developmental activities. While since the inception of the present democratic dispensation in 1999, Nigerians have expected the situation to change for the better, the reality on ground in most of the states however do not bring cheers.

For Oyo State, the efforts of successive governments to address the infrastructural challenge in terms of construction of new ones or giving old ones facelift, only succeeded in giving false hope to the people.

However, for the present administration of Governor Seyi Makinde, which came into office May 29, last year, it has decided to confront the challenges frontally and summoning the courage to do what the past governments failed to achieve, thereby changing the fortune of the state for the better.

For instance, within the month of August, Makinde has started the construction of three projects to develop the state's infrastructure, which some observers believe has turned the pacesetter state to a construction hub. It started with the 21-kilometre Airport-Ajia-New Ife Express Road, with spur to Amuloko, at a total cost of N8,520,919,776.41.

The governor speaking at the kick-off of the construction, gave an assurance that his administration would drastically reduce the infrastructure deficit in the state within the shortest possible time, adding that it is only in doing so that the state can be positioned on the path of economic growth. He stated further that the road construction was a product of the administration's strategic way of reducing the state's infrastructure deficit, which is known as the Alternative Project Funding Approach (APFA).

He said, “Our administration means business.

We will drastically reduce the infrastructure deficit in Oyo State in the shortest possible time.

And this is how economies work: investors will only go where they can be assured of profits.

If we do not develop basic infrastructure like roads, it will affect the cost of production which, in turn, means less profit for investors. So, we cannot be seriously discussing attracting investments into Oyo State when a majority of roads and other infrastructure are in a state of disrepair. “In order to achieve this, we must strategise on how to increase our spending on infrastructure, because what we collect from Abuja every month from federal allocation is not even enough to pay the salaries. So, the new strategies on how to increase our spending on infrastructure is what we are doing here in Oyo State."

While explaining the reason the AirportAjia road costs more per kilometre than the 65 kilometre Moniya-Iseyin road which was earler awarded last year, Makinde said there are more hydraulic structures on the road than the Moniya-Iseyin road, and that a lot of expansion and rehabilitation will be done on those bridges.

The governor also used the opportunity to explain the APFA approach through which he said many projects will be executed in the state, stating that it is the administration’s way of funding some infrastructural projects in the state, by having the contractors fund the projects with their own money while the state repays them over a period of time. “What this entails is that the contractor carries the projects’ risk. At the same time, we get quality delivery and quick completion of projects. They will be bearing the risk of getting this project done in a timely manner, while we pay them over the next 29 months.

That comes down to roughly N300 million a month. So, while they will complete the project in one year, we have the option to repay in over twice the time. We will continue to actualise capital projects through budgetary allocations and have the additional option of carrying out other infrastructural projects outside of the

Governor Seyi Makinde agging-o the construction of 21-kilometre Airport-Ajia-New Ife Express road budget, using the Alternative Project Funding Approach. So, you can look forward to other projects under this approach.

"Let me state that even when we are forced to look outside Oyo State for persons to execute the projects under APFA, we still put the interests of our people first. For example, Peculiar Ultimate Concerns Ltd has agreed that the construction labour will come from Oyo State, and we are holding them to that agreement. So, for projects under the APFA, because of the nature of spending on the projects, we decided that it would be best to open up the bidding process a little more so that contractors outside of Oyo State can bid as well. “We reached this decision because we are looking for private entities who have the wherewithal to complete the projects on schedule, while at the same time, passing the tests of quality assurance", he said.

The second project was the flag off of the reconstruction of the 400-year old Akesan Market Complex, Oyo, which was gutted by fire on January 8, 2020. Speaking at the event, Makinde said his administration would not only upgrade the market complex, it will modernise the fire station there to prevent future occurrence of such incidents. According to him, the first phase of the project, at a cost of N781, 716, 820.15, which is to be completed in six months, will have 352 lock-up shops, one police post, a modern toilet with 12 units for males and females, one administrative block, and a road network, adding that the second phase will consist of 176 lock-up shops, 168 open shops, three warehouses for storage and preservation, as well as modern toilets and road network.

The governor said the government had already made interventions on the market, including giving financial aid to traders who lost goods to the fire disaster and replacing the fire truck burnt by irate youths at the fire station in the market, stating that the flag-off of the reconstruction project was in fulfillment of the promise of his administration to rebuild the market and that the fund for the project is already available.

He said, “On January 8, we visited the Akesan market after the fire incident. We came here that day to assess the damage caused by the shocking fire outbreak and I commiserate with traders who lost goods in the fire. I remember that I told them that I was taking full responsibility for the failure of the Oyo State Fire Service to contain the fire. “ I also said that we would rebuild this market and compensate them for their losses.

We were able to provide our widow’s mite as

a government to support the people who lost their livelihoods here and had to start again.

Kabiyesi said he had a shop here that was also burnt and I want to assure him that by the time the new shops are being allocated, he would be given priority. “We have also done a few things, apart from our widow’s mite. You know some hoodlums burnt a fire truck and the office of Oyo State Fire Station. Well, we have replaced the fire truck so that those who are within the neighborhood of Akesan can go to bed and sleep with their two eyes closed. The fire truck is here in case of any eventuality and we will still upgrade the fire station here by the time we are done with this market. “So, we are here today to fulfill the second part of that promise, to officially flag off the rebuilding of Akesan Market. The fund for this project is already available. We did not borrow it. You must already know that this market had been in existence for 400 years and no one in recent history could have anticipated that something like this would happen. But what that means is, we did not plan for a fire.

So, one of the things we are going to do is to put some things in place to make sure that, should there be a fire in the future, it will not be as devastating as this last one was."

The governor assured that those who had shops in the market before it was gutted would be retained, adding that the new Akesan market would, however, be bigger than the burnt structure. He stated that the existing register for tenants in the market will be strictly followed, adding that those who want spaces in the market as new entrants will also apply for stores and have such allocated to them.

Makinde also stated that the reconstruction project has been divided into two and that upon the completion of the first phase within six months, the government will allocate the shops and trading activities will begin in the market.

"After that, we will begin the second phase that will consist of 176 lock-up shops, 168 open shops, three warehouses for storage and preservation and we will install a cold room for preservation of your fish and all that. There will also be modern toilets as well as a good road network. Other facilities like fire hydrants, water reticulation system, electrification, traffic and erosion control. All of that will be done in both the first and second phases. “We are spending over 781 Million on the rebuilding. We are revealing this amount because we want everybody to take care of the project. Those who think this government is embezzling the state’s funds should wait till the project is completed and come back

to examine if the money spent on it, is worth it or not", he said.

The Alaafin of Oyo, Oba Lamidi Adeyemi, in his remarks, called on the government to monitor the project so as to compel the contractor to use quality materials.

He said, “I want to say we are grateful to the governor for deeming it fit to build a new Akesan Market for us. I plead that the governor should ensure that the materials that will be used to build this market must be of standard quality, because they say it is beauty that ends the palace of a king that got burnt. I want a situation whereby when people like us are gone, people will remember us for being part of those who achieved a big project like this in Oyo. We want those that will build it to follow the precise pattern of the building and I pray that God will help them.�

The Iyaloja of Akesan Market, on her part, appreciated the governor for his support and sympathy ever since the fire incident occurred, as well as the financial assistance offered to the market men and women. “We cannot but also appreciate the governor for today’s flag-off of the construction of the new Akesan Market. We are all deeply grateful for this gesture. I know that he is someone who doesn't like people to suffer; one who has the interest of the downtrodden at heart.

He does not want us to beg before we eat. “And as he has promised that the market will be open for commercial activities within six months, so shall it be; because we know the voice of God is the voice of a man. We know he will do it because he fulfills any promise he makes and God will always support him", she said.

The last of the projects was the remodelling of the Lekan Salami Sports Complex, Ibadan, at a total cost of 5,580,001,151:62 which the governor said will be upgraded to a world class standard.

Makinde stated that the project will be funded through the APFA, which entails that the contractor will fund the project, while the state will repay the contractor over a period of 29 months.

He said, "The contractors, Messrs Peculiar Ultimate Concerns Ltd, have given us the assurance that the project will be completed in 18 months. By God’s grace, in the next 12 months, coronavirus would have left us, and we will have the opportunity to sit here, in this stadium, fully remodelled and watch my team, the 3SC beat their opponents, live!

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

37

T H I S D AY Ëž SEPTEMBER 9, 2020

CRIME&SECURITY

Police Kill Robbery Suspect, Pledge Amnesty for Repentant Cultitsts Becky Uba-Umenyili

I

n a gun duel with operatives of Ogun State Police Command, a member of an armed robbery gang, was recently shot dead along Shagamu/Benin Expressway.

The DPO of Ijebu Ife area, CSP Raphael Ugbenyo, recounted that they received a distress call informing them about a certain gang of armed robbers in military camouflage, fully armed, who blocked the expressway and were dispossessing motorists of their valuables.

The police responded immediately by sending the Special Anti Robbery Squad (SARS) to the scene.

The robbers were said to have engaged the police in gun battle which lasted for about 30 minutes.

At the end of the encounter, one of hoodlums, dressed in army camouflage, was shot dead while others escaped into the nearby bush with various degrees of gun shot injuries.

The police recovered various arms from the scene and has deposited the corpse of the dead man in the mortuary, while effort is on to apprehend the fleeing members

CP Ajogun

of the gang.

Meanwhile, the Commissioner of Police in Ogun State, CP Edward

Awolowo Ajogun has directed the thorough combing of the entire area so as to bring the escaped members

of the gang to justice.

The CP also appealed to the general public, especially hospitals, to alert the police if anyone with bullet injury is seen in their area.

He further reiterated his earlier warning against criminal activities in the state.

In another development, CP Ajogun has announced the grant of amnesty to cult members who are willing to denounce membership of their cult activities.

In his reaction to the recent arrest of Dare Ojugbele, an alleged notorious cultist at the Itawaya area of Ilaro in Ogun state, the CP assured safety for such persons once they lay off all nefarious cult activities.

Meanwhile, Ojugbele who is presently in police custody was arrested recently while in possession of locally made pistol, live cartridges and other ammunition, as well as charms.

The young man confessed that he is a member of the dreaded Eye cult group in the state.

The CP, who recently resumed duties in the state, however warned that the command would not tolerate violent cult activities in the state.

Coalition Laments Shia Massacre, Condemns Human Rights Violations Sunday Ehigiator

T

he coalition of Civil Society Organisations (CSOs) under the Centrum Initiative for Development and Fundamental Rights Advocacy has condemned gross violation of the fundamental human rights of the Nigerian Shia Muslims under the leadership of Sheikh Ibraheem El-Zakzaky.

In a jointly signed statement, themed, ‘Insecurity and Violation of Fundamental human Rights in Nigeria’, recently made available to THISDAY, murder, destruction of properties and unconstitutional arrests were identified as some ways in

which Shia rights were being violated. “The Nigerian constitution has never been silent on outlining the fundamental human rights of its citizens as enshrined in chapter IV of the 1999 Constitution as amended. “The Constitution in respect to these rights states that “Every person has a right to life, and no one shall be deprived intentionally of his life, save in execution of a criminal offence of which he has been found guilty in Nigeria (Section 33 of the 1999 Constitution). “Between December 12 and 24, 2015, the Nigerian Army burnt alive, maimed, raped, demolished homes and buried hundreds of male and female

of the Nigerian Shia Muslims in a mass grave in Kaduna state (Mando). “These crimes committed against the Shia minority can never be forgotten in our strive for the desired human rights to be shaped within the Nigerian democratic system. “The ill treatments of members of this religious minority group and their leader Sheikh Zakzaky and his wife Zeenat that are kept in custody incommunicado with severe bullet wounds all over their bodies in continuous disregard and contempt of an Abuja High Court order to release them and pay them the sum of N50 million. “Murder, extermination, enslave-

Police Arrest Sexagenarian for Raping Minor Rebecca Ejifoma

T

he police in Lagos have arrested a 67-year-old man, James Olajoye, for allegedly defiling a 12-year-old girl who came to spend the just celebrated Sallah holiday with her visually impaired grandfather in the Ejigbo area of Lagos.

The suspect, a commercial tricyclist, was alleged to have defiled the girl four times since she came visiting. One of the occasions as gathered, was right in the victim’s grandfather ’s one-room apartment.

He was alleged to have gagged her to prevent her from shouting , in order not to alert her blind grandfather.

However, over the the weekend, Olajoyetan, a widower, was said to have called the girl, pretending to send her on an errand.

Explaining her ordeal, the victim said: “ When I went , I stood in front of his door. He told me to come inside to collect the money.

When I did, he shut the door, pulled off my pants, laid me on the bed, pulled off his trouser, brought out his manhood and laid on me. “While he was doing it I wanted

to shout. He hit me severally and covered my mouth�.

A neighbour said to be returning from a journey , was alerted by the girl’s cry. Out of curiosity, he peeped through the window, forced the door open, to catch Olajoyetan in the act.

He raised the alarm that alerted residents who rushed to the apartment and handed the suspect to the police at Ejigbo Division.

During interrogation, the suspect claimed he was under a spell. He said “ I had a disagreement with a pastor with Christ Apostolic Church, Kajola. He accused me of being instrumental to his leaving the church. Six months ago, he boasted that he would place a spiritual load on my head and ensure I was publicly disgraced.

"Since then, I didn’t know what came over me. They claimed I raped the girl four times, but it was only once. My wife died in 2005. I have six children, the first is 35 years while the last is 17 years. “ I am still shocked that I could lay with a child that is much younger than my last child. When she came in, I gave her N100 and she hugged me. At that point, I lost my sense of judgement".

The suspect

ment, deportation or forcible transfer of population, Imprisonment and other severe deprivation of physical liberty in violation of Customary rules of international law, Anti Torture Act of 2017, which prohibit all sort of torture and persecution against any identifiable group or collectivity on political, racial, national, ethnic, cultural, religious are indeed a crimes against humanity.�

They however condemned these acts and called on the mentioned perpetuators to obey the rule of law and respect human rights.

They also called on the federal government to obey court decisions and ensure human rights are valued.

38

T H I S D AY Ëž ÍˇËœ 2020

BUSINESS/MONEYGUIDE

Kwara Offers 21,623 Micro Businesses Interest-free Loans Hammed Shittu Ă“Ă˜ Ă–Ă™ĂœĂ“Ă˜ As part of move to reduce poverty among teeming Kwara populace, about 21,623 petty traders in the state are expected to benefit from the state’s interest free micro-finance loans under the banner of Kwara State Social Investment Programme (KWASSIP).

Already, the state governor, Alhaji AbdulRahman AbdulRazaq has approved the disbursement of the loans to the affected beneficiaries.

In a statement signed by the governor’s Chief Press Secretary, Mr. Rafiu Ajakaye, the state said the operations of the first phase of disbursement would last for five weeks.

The statement added: “The

disbursement comes after months of careful enumeration of the potential beneficiaries of the scheme.�

The statement said the disbursement of the beneficiaries cut across the 16 local government councils of the state.

It added, “The disbursement of funds to the beneficiaries of Owo Isowo begins today. We are looking at disbursing to 21,623 persons for this phase. “Due to COVID-19 and the need to maintain social distancing, we will be communicating venues to beneficiaries as we get to each local government. “Owo Isowo is an interestfree loan of a minimum of N10, 000. Beneficiaries are to pay back over six months

in bits that are comfortable to them. It is to support our petty traders in up scaling their businesses. “The processes began early this year. Some of our activities were affected by the COVID-19 lockdown but we are back on the track with disbursement for petty traders that applied as earlier announced. “The issue of mixed identities does not arise. We have bankable data to guide us. Whoever was not captured or does not merit the funds cannot be given.�

It further stated that disbursement would be made through digital payments called mobile wallets.

It enjoined beneficiaries who have been contacted to come to the ground with their face masks.

AKIPCON Tackles ExxonMobil over Gas Flaring Okon Bassey Ă“Ă˜ ĂŁĂ™ The Akwa Ibom Oil Producing Community Development Network (AKIPCON) has demanded payment of compensation from Exxonmobil for communities affected by the negative impact of gas flaring on social and economic needs of the people.

Interacting with newsmen, the President General of AKIPCON, Ufot Phenson, noted that the communities affected by the oil exploration activities of oil companies in the state, deserve the right to adequate compensation for the extensive damage wrecked on the water courses, fishing and farming occupations and other allied businesses in the surrounding environment by gas flaring and oil spills.

Phenson added: “The non-stop gas flaring activity of Exxon Mobil since 1974 when the company started oil exploration in the coastal axis of Akwa Ibom State has generated tremendous negative impact on the aforesaid fishing and farming individuals,

MPCS, Groups and associations in the state. “Exxon Mobil has been flaring gas in the state both day and night leading to photogenic pollution which disrupt the means of livelihood of the people. This has turned the night into a total day resulting in the extinction of wildlife. “The company has not provided any ameliorative measure to check-mate the effect of their deliberate gas flaring. The people have been crying out on several occasioned to Exxon Mobil to stop the ongoing gas flaring and pay compensation to alleviate their sufferings, but to no avail.�

Phenson further said: “The company flares gas at various locations in Akwa Ibom State including gas flaring points at QIT, Ibeno (on-shore) and many other off-shore locations in Atlantic Ocean. Some of the platforms are code named Ikpang, Mfem, Utere, Iyak, Usan, etc. “The people have suffered severe harmful economic activities of oil companies, especially

the ongoing illegal gas flaring

by Exxon Mobil, gas emission from corked and uncorked oil well belonging SPDC which has posed a serious negative impact on the farmers and fishermen operating in the state. “The dangers of gas flaring in the state are inestimable as it destroys human health and economy. “Consequently, the people have been lavishly impoverished as their primary means of livelihood have been destroyed, shattered or contaminated. Gas flaring has destroyed buildings and roof tops, polluted the Atlantic Ocean, Qua Iboe River and other adjoining rivers, creeks, streams, neighboring swamps, sandy beaches, shorelines and boreholes within the coastal areas of Akwa Ibom State and rendered the water unfit for human consumption and for domestic use. “Aquatic and terrestrial species have also been affected due to the associated poisons spread through gas flaring and oil spills.�

Ecobank Announces New Date for Africa Trade Conference Ecobank Nigeria, a member of the pan African banking Group has concluded plans to host its first Regional Trade Conference.

The virtual forum with the theme “Facilitating Regional Trade in the emerging AFCFTA era� is slated for the 22nd of September. The conference, which would feature presentations and panel discussions by highly experienced subject matter experts and thought leaders in relevant industries, would provide an opportunity for exporters and importers within Africa to engage, creating a marketplace experience.

The Ecobank Nigeria ‘Africa Trade Conference 2020’ previously slated for March was postponed due to the lockdown restrictions following the outbreak of the COVID-19 pandemic.

Announcing the new date and movement of the conference to an online platform in line with current realities, Sunday Abah, Head, Trade Finance, Ecobank Nigeria stated that due

to its unrivalled footprint across Africa, Ecobank is uniquely positioned to facilitate cross border trade within the region leveraging its comprehensive trade solutions and various payment methods available across its network within Africa.

According to him, “Ecobank’s unique intra-Africa trade solutions enable settlements of international transactions and mitigation of payment risk while providing regional solutions such as issuance of payment guarantees to exporters without the need for a letter of credit and its related costs to the importer. “Ecobank works closely with clients in structuring transactions, settlements, financing and risk mitigation,� he added.

Further, he said “Our trade products and solutions are designed around two broad areas; trade finance and trade services. Trade finance enables our customers benefit from adequate and well mitigated credit facilitation in the area of

Import finance, export finance, bill discounting, trade loans, distributor finance, payables and receivables finance, structured trade and commodity finance amongst others while our trade services, offer our customers the advantage of speedy turn around and error free processing of their import letter of credits, import collections, avalised bills, Customs bonds, export collections as well as their local purchase orders and payment invoices, via our electronic trade platforms OMNI e-Trade and OMNI eFSC (electronic financial supply chain).

The Ecobank Regional Trade Conference, which will be moderated by Mr. Tedd George, the Founder and Chief Narrative Officer of Kleos Advisory, UK, has as its Special Guest of Honour, Mr. Segun Awolowo, Executive Director/ Chief Executive, Nigeria Export Promotion Council. Notable speakers and facilitators across the globe are also expected at the event.

AbdulRazaq

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™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE Ëœ Íľ Í°ÍŽÍ°ÍŽ

The price of OPEC basket of thirteen crudes stood at $41.64 a barrel on Monday, compared with $43.42 the previous Friday, 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

39

T H I S D AY Ëž ÍˇËœ Í°ÍŽÍ°ÍŽ

Chams Launches Pensioner Identity Mobile Solution Goddy Egene As part of efforts to boost earnings and deliver value to all stakeholders, Chams Plc has launched a new innovative pensioner verification app, known as “I’m Alive�, which uses facial biometric technology to verify pensioners from the comfort of their homes.

The mobile app was designed to solve many identity verification challenges faced by government

agencies, private and government pensioners and pension administrators nationwide.

Speaking on the development, the Group Managing Director, Chams Plc, Mr. Gavin Young, said: “Most private and government pensioners are required to verify themselves periodically so as to qualify for the next batch of monthly pension payments.

Many pensioners travel long distances from their villages and rural locations, over multiple

P R I C E S MAIN BOARD

F O R DEALS

days and often at great expense, in order to verify themselves at local Government offices or their nearest bank branches, which can be some distance away. This is no longer necessary with the new Chams “ I’m Alive “ pensioner mobile app.�

According to him, our society, where the elderly are a treasured part of the family hierarchy and are respected members of their local communities, we need to ensure their safety, and particu-

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

QUANTITY TRADED

VALUE TRADED ( N )

larly with such unique beneficial technology that allows for easy use, supported by Artificial Intelligence, to detect liveliness and pensioner authentication. “At Chams, this is our way of contributing towards their continued longevity and improved quality of life. our “I’m Alive“ pensioner verification mobile solution is a perfect example of the kind of consumer digital solution we are focusing on at Chams. It combines the latest

T R A D E D MAIN BOARD

A S

in innovation and technology with the ability to scale globally, whilst empowering Nigerians and improving the quality of life,� he said.

He explained that the first application is specifically geared towards pensioners and the company is working on a number of opportunities to implement the solution and its benefits into the private sector. “We are looking to work with companies and public entities in

O F

Nigeria and Africa, to expand the application of this technology, particularly where non-obtrusive and convenient identity verification is required,� Young said.

Meanwhile, trading at the stock market remained bearish on continuing profit taking.

Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 0.33 per cent to close lower at 25,497.32, while market capitalisation shed N44.3 billion to be at N13.3 trillion.

0 9 / 0 9 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, SEPTEMBER 9, 2020

40

ଂ

ଂ

ଂ ଂ ଂ

ଂ

7 R S 7 U D G H V E \ 9 R O X P H

7 R S * D L Q H U V T ic k er

T ic k er

P ric e C hg %

P ric e C hg %

0.94

4.4%

C UST OD IA N

40.1

T R A N SC OR P

0.60

3.4%

FB NH

28.2

2.0%

WA P IC

0.34

3.0%

Z EN IT H B A N K

26.0

-2.3%

CA P

17.45

2.6%

A C C ESS

25.1

-1.5%

19.0

3.4%

-1.0%

NB

41.00

2.5%

T R A N SC OR P

FB NH

5.05

2.0%

UB A

17.6

0.0%

NA HCO

2.13

1.9%

FCM B

13.8

-2.7%

N EIM ET H

1.82

1.1%

F ID ELIT YB K

10.8

-3.2%

UA C -P R OP

1.00

1.0%

GUA R A N T Y

8.2

-6.2%

119.50

0.8%

UC A P

6.7

-2.5%

M TNN

7 R S / R V H U V T ic k er

Afrinvest West Africa Limited

Vo lum e

P ric e

H ON YF LOUR

7 R S 7 U D G H V E \ 9 D O X H

P ric e

P ric e C hg %

A R B IC O

1.03

-9.6%

Z EN IT H B A N K

444.8

-2.3%

R OYA LEX

0.30

-9.1%

GUA R A N T Y

206.6

-6.2%

GUA R A N T Y

24.30

-6.2%

C UST OD IA N

192.7

-1.0%

J A P A ULOIL

0.20

-4.8%

NB

177.6

2.5%

T ic k er

Value

P ric e C hg %

UB N

4.90

-3.9%

A C C ESS

170.1

-1.5%

UN ION D A C

0.25

-3.8%

FB NH

141.5

2.0%

UN IT YB N K

0.54

-3.6%

UB A

111.0

0.0%

F ID ELIT YB K

1.80

-3.2%

N EST LE

90.3

0.0%

GUIN N ESS

14.00

-2.8%

D A N GC EM

70.3

0.0%

FCM B

2.20

-2.7%

A IR T ELA F R I

54.8

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

41

WEDNESDAY, SEPTEMBER 9, 2020 ˾ T H I S D AY

MARKET NEWS

Union Bank Appoints Ogbechie, Kokoricha as Directors Goddy Egene Union Bank of Nigeria Plc has appointed Mr.

Emeka Anthony Ogbechie and Mr. Paul Kokoricha as non-executive directors with effect from May 27 and August 28, 2020 respectively.

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

While Ogbechie replaces Mr. Dick Kramar, who retired from the board in September 2019, Kokoricha replaces Mr. Cyril Odu, who passed

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 07Sep-2020, unless otherwise stated.

on in September 2019.

In a notification to the Nigerian Stock Exchange (NSE) yesterday, Union Bank

said is a seasoned finance professional with experience in strategy and corporate planning; portfolio management and benchmarking;

financial reporting; analytics and tax planning; treasury and liquidity management; and cost optimisation.

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 2.34% ACAP Income Funds 0.78 0.78 10.29% 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 5.61% AIICO Balanced Fund 2.99 3.07 21.84% 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 2.51% Anchoria Equity Fund 100.75 101.09 -1.17% Anchoria Fixed Income Fund 1.28 1.28 10.94% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 14.59 15.03 -4.76% ARM Discovery Fund 343.32 353.67 -0.61% ARM Ethical Fund 30.60 31.52 5.20% ARM Eurobond Fund ($) 1.16 1.16 15.84% ARM Fixed Income Fund 1.08 1.08 8.17% ARM Money Market Fund 1.00 1.00 4.32% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 98.06 98.75 2.06% AXA Mansard Money Market Fund 1.00 1.00 4.21% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.13 2.13 16.03% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 1.86 1.88 8.79% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 5.06% Paramount Equity Fund 11.59 11.78 -7.48% Women's Investment Fund 111.73 112.71 1.19% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 4.62% Cordros Milestone Fund 2023 105.66 106.00 Cordros Milestone Fund 2028 109.77 110.07 Cordros Dollar Fund ($) 103.47 103.47 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 3.34% Coronation Balanced Fund 0.96 0.97 2.96% Coronation Fixed Income Fund 1.56 1.56 17.38% 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 4.01% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 4.42% EDC Nigeria Fixed Income Fund 1,178.75 1,191.01 6.27% 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 1,395.76 1,397.33 14.38% FBN Balanced Fund 152.93 153.97 4.16% FBN Halal Fund N/A N/A N/A FBN Money Market Fund 100.00 100.00 4.50% FBN Nigeria Eurobond (USD) Fund - Retail 121.35 121.77 4.46% FBN Nigeria Smart Beta Equity Fund 117.04 118.86 -10.06% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A 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 3,162.75 3,197.94 4.01% Coral Income Fund 3,192.23 3,192.23 3.79% FSDH Treasury Bills Fund 100.00 100.00 3.90% 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 100.00 100.00 3.77% Nigeria Entertainment Fund 113.32 120.56 8.59%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 4.03% Vantage Balanced Fund 2.32 2.36 6.06% Vantage Guaranteed Income Fund 1.00 1.00 8.42% Kedari Investment Fund (KIF) 150.63 151.37 5.09% 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 1,133.96 1,133.96 7.10% 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 1.40 1.42 14.27% PACAM Fixed Income Fund 11.88 11.96 5.59% PACAM Money Market Fund 10.00 10.00 3.06% PACAM Equity Fund 1.10 1.12 PACAM EuroBond Fund 108.03 110.62 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 116.31 118.18 -5.19% 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 6.21% Stanbic IBTC Bond Fund 210.33 210.33 4.96% Stanbic IBTC Ethical Fund 0.88 0.89 0.56% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 5.80% Stanbic IBTC Iman Fund 154.92 156.64 4.20% Stanbic IBTC Money Market Fund 100.00 100.00 4.12% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 -2.07% Stanbic IBTC Dollar Fund (USD) 1.20 1.20 3.79% Stanbic IBTC Shariah Fixed Income Fund 109.24 109.24 4.83% 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 -2.59% United Capital Bond Fund 1.85 1.85 6.95% United Capital Equity Fund 0.67 0.69 -5.03% United Capital Money Market Fund 1.00 1.00 4.28% United Capital Eurobond Fund 114.51 114.51 4.80% United Capital Wealth for Women Fund 1.03 1.03 -1.96% 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 10.41 10.52 1.25% Zenith Ethical Fund 11.61 11.68 -0.25% Zenith Income Fund 24.35 24.35 9.38% Zenith Money Market Fund 1.00 1.00 3.56%

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

9.14 86.17 66.96

9.24 88.03 68.18

4.95% -8.78% -10.88%

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

3.12 4.28 12.07 1.00 11.15 182.56

3.16 4.36 12.17 1.00 11.35 184.56

-12.05% -27.43% -0.45% 2.77% 7.20% -2.94%

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.

42

WEDNESDAY SEPTEMBER 9,2020 ˾ T H I S D AY

INTERNATIONAL

UK Under Fire as Brexit Trade Talks Resume with EU UK and EU negotiators on Tuesday resumed Brexit talks, after warnings last-minute changes to domestic legislation risked derailing the process, threatened peace in Northern Ireland and even a showcase UK-US trade deal.

Prime Minister Boris Johnson has angered EU officials by insisting there was now an “unforeseen” risk that Northern Ireland would be cut off from the rest of the United Kingdom.

His proposal for “limited” changes to domestic legislation sparked concern London could renege on the treaty it signed with the EU that allowed Britain’s departure from the bloc.

His comments in the Daily Telegraph stood in sharp contrast to his boast that the Withdrawal Agreement was a “fantastic moment” when he signed it in January.

Britain left the 27-member EU on January 31 but remains bound by its rules until December 31 as it tries to thrash out the terms of a new trading relationship.

Both sides agree a deal must be struck by an EU summit in mid-October. But divisions remain on totemic issues such as state subsidies for industry and fishing rights.

Irish prime minister Micheal Martin said he was “concerned about the lateness” of London’s proposed changes to the Northern Ireland Protocol, a key plank of the agreement.

“The Withdrawal Agreement is an international treaty and we expect the UK government to implement and to adhere to what was agreed,” he told the

Irish Examiner newspaper.

“We trust them to do so or they would render the talks process null and void.”

Martin ruled out the return of a hard border between Ireland and Northern Ireland, a key part of the 1998 Good Friday Agreement that ended 30 years of violence over British rule in the province.

Northern Ireland will have Britain’s only land border with the EU, and the Brexit protocol means the territory will continue to follow some of the bloc’s rules to ensure the frontier remains open.

Johnson’s spokesman insisted the government remained fully behind the Good Friday pact, arguing the planned legislative changes were a “safety net” to ensure a smooth passage for goods going to and from Northern Ireland after January 1.

But the EU, and anti-Brexit parties in Northern Ireland and Britain, fear Johnson is setting the stage to jettison the transition talks and go its own way, whatever the economic cost.

EU chief negotiator Michel Barnier vowed to interrogate his British counterpart, David Frost, about the plans when they meet from Tuesday afternoon.

“Everything that has been signed must be respected,” the Frenchman said.

Heading into the meeting, which lasts until Thursday, Frost warned: “We need to see more realism from the EU about our status as an independent

83 Stranded Migrants Rescued in Sahara Desert Eighty-three migrants were saved last week after their smugglers abandoned them in the Sahara desert in northern Niger, the International Organisation for Migration (IMO) said on Tuesday.

A team from the IOM and Niger’s Civil Protection service found the group 230 kilometers (140 miles) from the crossroads town of Dirkou on September 3, the agency said on Facebook.

The 83 comprised 75 Nigerians, 41 of them women, including twin four-year-old girls, as well as four Togolese, three Ghanaians, and a Malian.

They had left the Nigerien town of Agadez, the main stepping-off point for African migrants trying to cross into Europe via Libya, a week earlier.

On September 1, the migrants were abandoned by their four drivers, after first taking all their belongings, when they spotted military vehicles ahead, the IOM said.

“We were stranded for three

days without food or water. We searched for water, but all we found were dirty wells used by livestock. So we were not able to drink at all,” a 25-year-old Nigerian identified as Dennis told the IOM. “People were collapsing left and right. I started crying when I saw the cars approaching, hoping help was coming.”

After receiving water, food, and medical care the migrants were taken to a coronavirus quarantine site, where they will be detained for 14 days.

The cross-Saharan migrant route to Europe is notorious for vehicle breakdowns in heat frequently exceeding 38 degrees Celsius (100 degrees Fahrenheit) and abandonment by traffickers, fearing interception at checkpoints, or by military patrols.

More than 250 migrants were picked up in April near Madama, near Niger’s border with Libya.

country”.

Barnier last week underlined that full implementation of prior deals was “the only way to protect the Good Friday Agreement in all its dimensions”.

“And, of course, it is a precondition for us -– the EU and the UK -– to be able to forge a meaningful partnership built on trust.”

The government is due to

submit the changes to parliament on Wednesday, with warnings it will breach international law if it overrode the Withdrawal Agreement.

Tim Bale, deputy director of the UK In A Changing Europe research group, suggested the move could be a “negotiating ploy” to put pressure on Brussels.

The Attorney General’s

Office though, confirmed the head of the government’s legal department had resigned over the changes, while US politicians also warned of repercussions.

House of Representatives Speaker Nancy Pelosi said last year that any British backsliding on Northern Ireland would mean no US-UK trade agreement.

Democratic congressman Brendan Boyle on Tuesday

agreed, saying it would have “consequences well beyond trust dealings with the EU”.

It would be “very difficult to enter into a trade negotiation with a party that would have just ripped up a very important agreement to us”, he told BBC radio.

“They might just turn around and use the same tactic against you.”

CHANGE OF BATON

Outgoing Chairman of the ECOWAS Authority of Heads of State and Government, President Mahamadou Issoufou of Niger (left), handing over to his successor, President Nana Akufo-Addo of Ghana, in Niamey, Niger Republic…yesterday

Charles Taylor Fails in Bid to Be Moved from UK Prison Judges have rejected a bid

by Liberian ex-president and convicted war criminal Charles Taylor to be moved from a British jail, where he claimed he risks dying from coronavirus.

Taylor is serving a 50-year sentence at Frankland prison near Durham in northeastern England after being convicted in 2012 by a court in The Hague of fuelling civil conflict in Sierra Leone.

The warlord had argued that due to a “massive outbreak of

Covid-19 in the UK” his life was at risk from continued detention in Britain and that he wanted to be moved to a “safe third country”.

But the Residual Special Court for Sierra Leone said in a statement late Monday that “Taylor had failed to comply with court directions that he specify which countries he considered safe.”

The court said Teresa Doherty, the duty judge dealing with Taylor’s application, “noted that

the World Health Organization has not declared any place in the world safe from COVID-19”.

Taylor’s claims that his prison was overcrowded and offered bad conditions were also “at variance with facts”, the judge found.

Taylor lost a previous bid to be allowed to serve the remainder of his term in an African jail in 2015.

Taylor was the first former head of state to be jailed by an international court since the Nazi

trials at Nuremberg in Germany after World War II. He was convicted in 2012 on 11 counts of war crimes and crimes against humanity over acts committed by Sierra Leone rebels he aided and abetted during the war.

The residual court is the successor to the Special Court for Sierra Leone, which was established by the UN in 2002 to try those who bore “the greatest responsibility” for the atrocities committed during the civil war.

UN Decries Attacks on Journalists, Activists in Pakistan The United Nation voiced alarm Tuesday at growing attacks on journalists and activists in Pakistan, often amid cries of blasphemy, urging Islamabad to protect those facing threats and probe any violence.

The UN rights office said it was growing increasingly concerned at numerous instances of incitement to violence, both online and off, particularly against women and minority journalists and activists, as well as physical attacks.

It pointed to the case of journalist Shaheena Shaheen, who was shot dead last Saturday by

unidentified men in Balochistan’s Kech district.

And last year, four journalists and bloggers were killed in Pakistan in connection with their reporting, including Arooj Iqbal, a woman who was shot dead in Lahore as she tried to launch her own local newspaper.

“In the vast majority of such cases, those responsible have not been investigated, prosecuted and held to account,” rights office spokesman Rupert Colville told reporters in Geneva.

He pointed out that women journalists in Pakistan last month

had warned of a “coordinated campaign” of social media attacks against anyone who was critical of government policies.

He stressed that accusations of blasphemy were “especially worrying”, pointing out that they “can put accused individuals at imminent risk of violence”.

Colville said the rights office had raised its concerns directly with the Pakistani government and had urged it to take “immediate, concrete steps to ensure the protection of journalists and human rights defenders who have been

subjected to threats.”

“We also stress the need for prompt, effective, thorough and impartial investigations with a view to ensuring accountability in cases of violence and killings,” he said.

The UN rights office had also called on the Pakistani leadership to “unequivocally condemn incitement to violence against religious minorities”, he said, as well as “what appears to be an increase in the use of blasphemy laws for personal or political score-settling”.

Ireland Loses EU Trade Job after COVID-19 Breach Ireland lost the EU’s coveted top trade job on Tuesday, paying the price for mistakes made by Phil Hogan, who resigned after breaking coronavirus guidelines.

Instead, the post of trade commissioner now goes to EU

veteran Valdis Dombrovskis, a former Latvian prime minister who is seen as a steady pair of hands for one of the bloc’s most sensitive jobs.

Ireland, however, did better than expected in the reshuffle, with

the important financial services portfolio going to the country’s new commissioner, senior MEP Mairead McGuinness, the EU said.

With the post, McGuinness becomes a key regulator of banking in Europe and will help determine

the role of the City of London in the EU’s future ties with the UK. “Congratulations to @ MaireadMcGMEP on her appointment as European Commissioner in an important financial portfolio,” tweeted Irish

Prime Minister Micheal Martin.

Hogan, one of the bloc’s most senior officials and a powerful force in Brexit talks, quit last month after a week-long stream of revelations about his whereabouts during a visit to Ireland.

In a scandal known as Golfgate, the Irish government said Hogan flouted a trio of coronavirus guidelines during the trip, although the former commissioner himself insisted he broke no laws.

43

WEDNESDAY SEPTEMBER 9, 2020 ˾ T H I S D AY

NEWSXTRA

Finally, Military Kills Wanted Benue Militia Leader, Gana George Okoh in Makurdi The Commander of the Four Special Forces Command of the Nigerian Army in Doma Local Government Area of Nasarawa State, Brigadier General Maude Ali Gadzama, last night confirmed the killing of wanted Benue militia leader, Terwase Akwaza, alias Gana.

Channels Television quoted Gadzama as saying that Gana was killed in a firefight with military personnel.

However, the Benue State Governor, Mr. Samuel Ortom, said soldiers snatched Gana from a government convoy escorting repentant militants in Gboko.

Earlier yesterday, Gana, along with 142 militia boys, had reportedly surrendered amid traditional rulers, priests, and local government officials in Katsina-Ala Local Government Area of the state.

They were on their way to Makurdi when they were intercepted by military officials, Ortom said.

In 2017, the police declared Gana wanted after he was alleged to have killed “several innocent persons.”

The Benue State Government, at the time, placed a N10 million bounty on him.

In an exclusive interview with Channels Television in 2016, Gana had denied any involvement in the killing of Mr. Denen Igbana, a security aide to Governor Samuel Ortom.

According to a local source, Gana emerged from his hideout yesterday at the Akume Atongo Stadium, Katsina Ala besieged by a large crowed who came to catch a glimpse of him.

The source said he willingly surrendered along with over 100 of his group members before they were arrested on their way to Makurdi by the military .

The source said Agwarza and his group members were set to embrace another amnesty programme proposed by the state government in Makurdi when the convoy intercepted and he was whisked away to an unknown destination.

However, confirming the report, Ortom said a total number of 142 militias including Gana had embraced the amnesty programme initiated by the stakeholders in the three LGAs and with the support of the state government and security agencies.

He added that the military team intercepted the convoy of the militias, including the Local Government Chairman around Gboko on their way to Makurdi and took them to unknown decision.

Ortom said he waited for the repentant bandits until 4pm but did not see them.

“I later succeeded in getting in touch with the Commander of Operation Whirl Stroke, Major General Adeyemi Yekini, and he confirmed to me that they (the

Nigeria’s COVID-19 Cases Rise By 296 to 55,456 Martins Ifijeh Nigeria has recorded 296 new cases of COVID-19, bringing to 55,456 the number of confirmed cases in the country.

Announcing this yesterday, the Nigeria Centre for Disease Control (NCDC) said Plateau recorded 183 new cases; Lagos, 33; Federal Capital Territory (FCT),

25; Ogun, 16; Oyo, seven; Ekiti, six; Kwara and Ondo, five each; Anambra, Imo and Nasarawa, three each; Rivers, Gombe and Edo, two each; while Akwa Ibom recorded one new case.

It said: “So far, Nigeria has recorded 55,456 confirmed cases of COVID-19. 43,334 patients have been discharged, while 1,067 persons have died.”

Buhari’s Intervention Forces ECOWAS to Halt Single Currency Launch The Economic Community of West African States (ECOWAS) has postponed the launch of its planned single currency, Eco, following concern raised by President Muhammadu Buhari.

The body agreed to maintain a gradual approach for the launching of the currency.

ECOWAS explained that a new date for the launch would be announced later.

This was contained in a communique issued yesterday at the end of the 57th Summit of the Heads of State and Government of ECOWAS. The body said the postponement was done in order to consolidate the achievements.

Consequently, a new roadmap for the single currency programme would be developed.

The communique read, “member states are to be exempted from compliance with

the convergence criteria in 2020, while also developing a new macroeconomic convergence and stability pact among the ECOWAS member states.”

President Buhari had on Monday cautioned that the ambition for the regional currency could be in serious jeopardy unless member states complied with agreed processes of reaching the collective goal.

He also expressed concern over the decision of francophone countries that form the West African Economic and Monetary Union to replace the CFA Franc with Eco ahead of the rest of member states.

Speaking at a virtual extraordinary meeting of the Authority of Heads of State and Government of the West African Monetary Zone, Buhari noted that ECOWAS was at a crossroads over the issue.

military) were in an operation and that he will brief me later. I believe that the military will protest them because the military knew what we were doing. Even in the

military, when someone surrenders during the war, he is protected,” Ortom explained.

He, however, granted amnesty to 42 who made their way to

Makurdi.

The governor warned the repentant militias not to go back to their past evil ways even as he said he is yet to be briefed

by the team of Operation Whirl Stroke (OPWS) of the military who claimed responsibility for the arrest of Gana and his team.

SEEKING PEOPLE’S MANDATE...

L-R: Former National Chairman of the All Progressives Congress (APC), Mr. Adams Oshiomhole; governorship candidate of APC in Edo State, Pastor Osagie Ize-Iyamu; and a member of the Lagos State House of Assembly, Hon. Desmond Elliot, during the party’s rally held at Ehor Uhumwode Local Government Area of Edo State...yesterday

Reports Linking Ex-Presidential Amnesty Boss to Air Peace False, Says Airline Nigeria’s largest carrier, Air Peace, has denied that former Special Adviser to the President on Niger Delta Affairs and Chairman of the Presidential Amnesty Office, Mr. Kingsley Kuku, purchased aircraft for the airline, stating that it was a rehash of old, false stories.

In a statement issued yesterday by the company’s Solicitors, Alegeh & Co, Air Peace said the report was not true, emphasising that Kuku is neither a shareholder nor a director in the company and not involved in any way with the airline.

“We are Solicitors to Air Peace Limited and Chief Allen

Onyema. Our clients have just become aware of an online story, claiming that Kingsley Kuku, the former special Adviser to the President on Niger Delta Affairs and Chairman of the Presidential Amnesty Office, purportedly used “billions of Naira stolen from the Presidential Amnesty Programme………. to purchase airplanes to start Air Peace”.

“The online story, in a bid to appear credible, refers to the United States Department of Justice (DOJ) as the source of this “information”. On behalf of Our Clients, we hereby state unequivocally and for the records

that the said online story is untrue, false, baseless and a rehash of old, false and untrue stories.

Kingsley Kuku did not at any time purchase any airplanes for our client, Air Peace Limited and he is not a shareholder or director of Air Peace Limited. Kingsley Kuku is not in any way and/ or manner connected to and/or involved in the ownership and operations of Air Peace Limited,” the statement said.

The company also said that Air Peace Limited was set up with legitimate funds borrowed from Nigerian banks and that of the owner and this had been

investigated and verified over time.

“Air Peace Limited was set up with legitimate funds of our client, Chief Allen Onyema, who has been recognised and honoured internationally and locally for his work in promoting peace and ethnic harmony in Nigeria and with banking facilities obtained from banks. This false, untrue and baseless online story is a deliberate attempt to tarnish the image and legacy of our clients. There is no iota of truth in the said story and same should be ignored and disregarded,” the statement also said.

Kidnappers Kill Abducted NSCDC Officer in Kaduna John Shiklam in Kaduna Kaduna State Command of the Nigeria Security and Civil Defence Corps (NSCDC) yesterday confirmed the death of its kidnapped officer, Mr. Bulus Sanda.

The officer, along a sick police officer that had just visited the state from another state, a 14-year-old

girl and a security man were abducted by gunmen at their houses at Mararaba-Rido, Chikun Local Government Area of the state in August.

The corps’ Commandant in the state, Babangida Dutsinma, stated this in a statement by the command’s Public Relations Officer, Mr Orndiir Terzungwe, in Kaduna.

According to him, the late Sanda, who joined the corps in 2010, was abducted from his residence at Mararaba-Rido, Chikun LGA of the state.

The Commandant said the officer had served the corps in different locations, adding he was dedicated to his duty in an exemplary manner.

“His last location was Kaduna-

North Division. He even received an award a day before his abduction and eventual death,” he stated.

While commiserating with the family of the deceased, the Commandant urged members of the public to support the activities of security agencies in the state to ensure safety of lives and property.

APC Govs Laud Buhari on Economy, P&ID Judgment Adedayo Akinwale in Abuja The governors of the ruling All Progressives Congress (APC) have commended President Muhammadu Buhari for effectively managing the nation’s economy.

They have also promised more support to expedite delivery of all the party’s electoral promises to the people.

The governors’ position, which was contained in a communique issued yesterday at the end of a teleconference, was signed by Chairman of Progressive Governors’ Forum (PGF) and Governor of Kebbi

State, Abubakar Atiku Bagudu.

They commended the federal government for successfully getting the UK Commercial Court to order a stay of execution, which also suspends any penalty against Nigeria in respect of the $9.6 billion Process and Industrial Development (P&ID) debt judgment against Nigeria.

The governors argued that “the ruling by presiding judge, Rose Cranston of the Royal Courts of Justice Strand, London is a victory for all Nigerians.”

The progressive governors, in particular, commended Nigeria’s legal team led by the Attorney

General of the Federation, Mr. Abubakar Malami (SAN).

“In addition, the forum also commends President Buhari for efficiently managing Nigeria’s economy, which has led to giant strides in the execution of major national projects that include the revival of railways, the 2nd Niger Bridge,Ajaokuta Steel, road projects across all parts of the country, among many others.

“The efficient management of the economy has strengthened the capacity of the Federal Government to control the impact of the Covid-19 pandemic”.

TheAPC governors also applauded Nigeria’s polio-free certification by

World Health Organisation (WHO) and restated their commitment to continue to work with the federal government for the eradication of all communicable diseases in the country.

“We congratulate the federal government for the re-election of Dr. Akinwumi Adesina as President of the African Development Bank (AfDB) for a second term. Forum also notes with much appreciation and commendation to the federal government’s nomination of Dr. Ngozi Okonjo-Iweala for the position of Director-General of the World Trade Organisation (WTO).

WEDNESDAY SEPTEMBER 9, 2020 ˾ T H I S D AY

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Floods Kill 21 Persons, Render Hundreds Homeless in Jigawa Ibrahim Shuaibu in Dutse Twenty one people have died while many have fled their homes in 18 local government areas of Jigawa State following the worst flooding ever experienced in the state, the state government said on Tuesday.

The state governor, Badaru, disclosed to journalists in his office in Dutse yesterday that among the 21 persons killed by the flood, four of them drowned into a river.

Badaru said the flood had also displaced many people in most of the affected communities.

He said “Many of the victims lost their lives as a result of building collapse caused by the heavy rainfall in the areas, and others

washed away by over flooded rivers.”

Badaru also consoled the families of those affected, and assured them that the government would provide relief items to the displaced persons.

The governor called on the federal government to assist the state so as to alleviate the suffering of the affected communities.

According to him, an assessment team has been sent to all the affected communities with a view to providing government support to them.

Badaru said many families have been displaced, while a hundred thousand hectares of farmlands were submerged and all produce lost to the flood.

It was learnt that the flood

disaster affected 24 of the 27 local government areas in the state, in which the situation was worsened in 18 local government areas.

It was also observed that the flood washed away hundreds of farm lands in the rural areas, and Jigawa is one of

the agrarian states that local people relied only on rainy season for farming.

More than 50,000 houses

and farmlands were destroyed following the flood which ravaged some parts of the state last week.

APC’s Objection Stalls AND DELIVERED...

Hearing in PDP’s Suit Seeking SEALED Former President of Nigerian Society of Engineers, Mr. Adekunle Mokuolu (left), and the Deputy Governor of Ogun State, Mrs. Noimot Salako-Oyedele, during the presentation of the report of the state government’s Contracts/Projects Review Committee to the deputy Ize-Iyamu’s Disqualification governor at the Governor’s Office, Oke-Mosan, Abeokuta ...yesterday Alex Enumah in Abuja

Hearing of the Peoples Democratic Party (PDP)’s suit seeking the disqualification of the governorship candidate of the All Progressives Congress (APC) in Edo State, Pastor Osagie Ize-Iyamu from the September 19 election was yesterday stalled at the Abuja Division of the Federal High Court.

The suit slated for hearing for September 8, 2020, could not go on owing to a motion objecting to its hearing by the APC. PDP had in a suit marked: FHC/ABJ/ CS/69/20, prayed the court for an order disqualifying Ize-Iyamu from contesting in the September 19 governorship poll on account of not being validly nominated by his party, the APC. The plaintiff in the suit filed on July 3, 2020, by its team of lawyers led by Chief Ferdinand Orbih (SAN), is claiming that Ize-iyamu was not a product of a valid primary election hence, should not be allowed to participate in the forthcoming election.

Defendants in the suit are;

Independent National Electoral Commission (INEC), All Progressives Congress (APC) and Pastor Osagie Ize-Iyamu.

Although the suit was initially instituted in the Benin Division of the Federal High Court, it was however transferred to the Abuja Division owing to the annual vacation of the Federal High Court.

When the matter was called yesterday, PDP’s lawyer, Orbih, told the court that the suit was pen down for hearing “today” but he was served “in court this morning” with the Notice of Preliminary Objection by the second defendant.

“I will want to react to it”, he said and prayed the court for a short adjournment to enable him do so.

Responding, trial judge, Justice Ahmed Mohammed called on counsel to APC, Mr. Tunde Adejumo for confirmation.

Similarly lawyers to Independent National Electoral Commission INEC, MrAlhassan Umar (SAN) and IzeIyamu, Chief Wole Olanipekun (SAN), while confirming service also requested for time to respond to the motion.

PwC Announces Death of Deputy Senior Partner,Tola Ogundipe Sunday Ehigiator PwC Nigeria has announced the death of one of its Deputy Senior Partners, Tola Ogundipe, who reportedly lost his life while boating.

In a statement issued yesterday which was signed by the company’s Country Senior Partner, Uyi Akpata, Ogundipe was described as a thoroughbred professional, an astute leader and a consummate gentleman before his demise.

According to the statement, “It is with a deep sense of loss that we received the sad news of the untimely passing on of our colleague and friend, Tola Ogundipe, on September 7, 2020.

“Ogundipe was the PwC Africa Tax Leader and Deputy Country Senior Partner for

PwC Nigeria.

“He also previously served as the Assurance Leader for PwC Africa among his other leadership roles in PwC. “Ogundipe was a thoroughbred professional, an astute leader and a consummate gentleman.

“The accounting profession in Nigeria has been left bereft of the great talent he brought to its advancement, including his role as a member of Council of the Institute of Chartered Accountants of Nigeria.

“He was a great family man and his loss will be deeply felt by those who mattered most to him. We will keep his family in our hearts and prayers.

“Funeral arrangements will be agreed with his family and announced later.”

Alleged $875.7m Fraud: EFCC Re-arraigns Malabu Oil, Seven Others Kingsley NwezehinAbuja The Economic and Financial Crimes Commission (EFCC) yesterday rearraigned Malabu Oil & Gas Limited, AliyuAbubakar and six others before Justice I.E. Ekwo of the Federal High Court sitting inAbuja, on 67 amended charges,borderingonmoneylaundering to the tune of $875,740,000.

The other six defendants are: A Group Construction Company Limited; Rocky Top Resources Limited; Megatech Engineering

Limited; Novel Properties and Development Company Limited, Imperial Union Limited and Carlin International Nigeria Limited.

EFCC Counsel, Bala Sanga told the courtthathewasreadywiththeamended charges and for the eight defendants to take their pleas: Count one of the charges read: “That you Malabu Oil Gas Limited, SeidoughaMunamuna(atlarge),Amaran Joseph (at large) and Douzia Loya Etete (at large), on or about the 24th day of August 2011, in Abuja, within the

jurisdiction of this Honourable Court took control of the sum of $401,540,000.00 paid from the Federal Government of Nigeria Escrow Account No: 0041451493 IBAN 30CHAS609242411492 with JP Morgan Chase Bank in London into account 2018288005 of Malabu Oil & Gas Limited domiciled with First Bank of Nigeria Limited, when you reasonably ought to have known that the funds formed part of an unlawful activity to wit: negotiation, signing and payment in

respect of the Block 245 Resolution Agreement between the Federal Government of Nigeria with Shell Nigeria Ultra Deep Limited, Nigerian NationalPetroleumCorporation,Nigeria Agip Exploration Limited, and Shell Nigeria Exploration and Production Company Limited, whereby taxes, accruals and royalties due to the Federal GovernmentofNigeriawereunlawfully waived and you thereby committed an offence contrary to Section 15(2) (d) of Money Laundering Prohibition Act.”

Ondo 2020:You’re Notorious for Having Loose Tongue, Ajayi Replies Akeredolu The Deputy Governor of Ondo State and governorship candidate of the Zenith Labour Party (ZLP), Hon. Agboola Ajayi, has berated Governor Rotimi Akeredolu for describing him as a betrayal, neophyte and a nincompoop.

Ajayi while responding to Akeredolu in a statement issued yesterday by his Media Adviser, Allen

Sowore in Akure, said Akeredolu’s reckless gaffe is a continuation of his fruitless and sterile efforts to demean the constitutionally established office of the Deputy Governor and his person.

“The Deputy Governor, Agboola Ajayi is not surprised at this latest castigation of his person by Mr. Governor. “This

has been the favourite tactics of Akeredolu and now that he’s frustrated by the people’s obvious rejection of his reelection bid, it’s expected that he would not desist on the road to infamy and perfidy.

“Akeredolu is notorious for having a loose tongue, fuelled most times by Dutch courage. His verbal attacks

on notable leaders, particularly whenever they disagree with his clannish myopic world view are well established.

“Therefore, it is in his character to hurl verbal grenades which are usually undignifying of his age, person, professional calling and the political office he currently occupies.

FG Dragged to ECOWAS Court over Hate Speech Enforcement A group, Expression Now Human Rights Initiative, has dragged the federal government before the ECOWAS Court over the provisions and enforcement of hate speech in the Nigerian Broadcasting Code (NBC) 6th Edition and its amendments.

The non-governmental organisation filed the suit marked ECW/CCJ/APP/ through Lagos lawyer, Mr. Solomon Okedara.

Okedara argued in the

application dated September 4, 2020, that “while the focus of many Nigerians is on N5million fine which the NBC Code (6th Edition) imposes in its amendments; the code even imposes other far-reaching penalties.

“For example Article 15.2.1 of the Code provides for sanctions such as ‘Immediate order of suspension of broadcast services, suspension of license and immediate shut down/seal up

of transmitter; and revocation of license, seizure and forfeiture of transmitting equipment’ The Lagos-based lawyer contended that while the N5million fine is “disproportionate and unjustifiable, penalties like ‘suspension of broadcast services, suspension of licence, shut down/ seal up of transmitter’ are excessive and disproportionate and can have far more damaging effect on free speech.”

Okedara further argued that the definition of ‘Hate Speech’ as given in the Code is ‘vague, ambiguous and overbroad.’

The lawyer also noted that the Code criminalises “offensive reference” and wondered if the drafters of the code realised that making “offensive reference” is integral to free speech and important to open, diverse and heterogeneous society.

Nobody Hijacked 774, 000 Jobs in Kogi, Says Selection Committee Ibrahim Oyewale in Lokoja The Chairman of the Kogi State Selection Committee of the federal government’s Special Public Work’s programme, Mr. Afolabi Joseph Raji, has dismissed the allegation that the recruitment process has been hijacked by high-profile politicians and government officials in the state.

Raji disclosed this yesterday while

speaking at a town hall meeting with stakeholders in Lokoja Local Government Area (LLGA) of the state.

He explained that the committee would continue to be transparent in its selection process and stressed that no politician or party officials would be allowed to sabotage the good intention of President Muhammadu Buhari in delivering the dividends

of democracy to all Nigerians.

The chairman warned that the employment of these Nigerians should not be based on party membership when he handed the forms to the Senior Special Assistant on Security to the Kogi State Governor in LLGA, Mr. Mohammed Dansebe.

Raji stressed that all participants must be resident in the state and

must be physically fit to do the job.

He said: “Each local government will be given 700 forms. This is because out of the 1,000 forms, 300 have been allocated on a preferential basis. They are federal, state lawmakers, traditional rulers, Islamic and Christian bodies, persons with disabilities, trade unions, civil society groups and many more.

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Joda Blames North for High Rate of Out-of-school Children Peter Uzoho A former Permanent Secretary in the Federal Ministry of Education, Ahmed Joda, has blamed northern leaders and the people of the region for the high rate of out-of-school children in the region.

Joda said the inability of the north to take advantage of the scholarships offered by the federal government in the past decades, like their southern counterparts, was the major contributor to the education imbalance against the region.

In an open letter he wrote yesterday from Yola, Adamawa State capital, to the Minister of Education, Malam Adamu

Adamu, Joda, who said he became a permanent secretary in 1971, stated that the 12 million out-of-school children existing in the country as quoted by the present administration can be found in the north.

He said his open letter to the minister was his contribution to a previous one written to the minister by Nigeria’s Ambassador to Mexico, an intervention he said would help the minister in addressing the education crisis facing the country.

Presenting figures, which showed how the southern states took school enrolment far more serious than the north, he said there was need to relate those figures to the known education

crisis in Nigeria today.

The elder statesman recalled that in about 2012, former President Goodluck Jonathan

had lamented that there were 10 million out-of-school children in Nigeria, stating that that meant that those out-of-school children

were in Northern Nigeria.

He said: “President Muhammadu Buhari has been quoted as saying that the figure of out-of-school

children in the country is now 12 million, meaning the figure has grown and is likely to continue to grow.

Sanwo-Olu Inaugurates Task LOCAL MANUFACTURING...

Force against Human Trafficking PROMOTING L-R: Chief of Staff to Imo State Governor, Mr. Nnamdi Anyaehie; Secretary to the State Government, Mr. Cosmos Iwu; Deputy Speaker, The Governor of Lagos State, Mr. Babajide Sanwo-Olu yesterday inaugurated the members of the Lagos State Task Force on Human Trafficking to curb the menace of human trafficking and irregular migration in the state.

Speaking during the inauguration of the task force at the Lagos House, Ikeja, Sanwo-Olu urged all members of the task force to see their appointment as a call to service.

The governor also charged them to come up with brilliant ideas, innovations and policies that will assist the state government in curbing the menace.

He said: “The COVID-19 pandemic has exposed and exacerbated many global inequalities and plunged many economies like ours into recession, leaving millions of people at greater risk of being trafficked

for sexual exploitation, forced labour, forced marriages and other crimes. What this implies is that the pandemic has created more economic difficulties for many especially women, young ladies and children who are the most vulnerable and might become exposed to the perils of human trafficking in a bid to seek better lives.

“In view of this, I strongly believe that this initiative of constituting State Task Forces on Human Trafficking could not have come at a better time than now when it is needed more than ever that we put human dignity and human rights at the forefront and governments across all levels need to join hands and make collaborative efforts to put an end to the scourge of human trafficking.

state House of Assembly, Hon. Amara Iwuanyanwu; state Deputy Governor, Prof. Placid Njoku; and the state Governor, Senator Hope Uzodimma, after the governor signed into law two executive bills to boost local manufacturing and entrepreneurship skills at the Sam Mbakwe Executive Chambers, Government House, Owerri...yesterday

NPO Targets Women, Girls in New Initiative Vanessa Obioha Against the backdrop of the low number of women with access to financial empowerment, healthcare and quality education in the country, a global not-forprofit social enterprise, Centre for Health Sciences Training, Research and Development (CHESTRAD) is launching a new programme that will tackle this need.

Called ‘Tariro’, a South African word for ‘hope’, the programme is “a health and financial inclusion programme, which gives and expands the access of children, girls and women to financial and health

products and services,” said CEO of CHESTRAD Global, Lola Dare at a recent zoom press briefing.

The chairman of the African led non-profit organisation, Bimbola Ogunkelu said that Tariro is motivated by the visible economic inequalities between men and women. He observed that women in Nigeria have lesser job opportunities, earn less and save less, thus “limiting their capacity to support themselves, children and families.”

National statistics show that Nigeria loses 145 women of childbearing age every day due to pregnancy-related complications and an estimated 20 per cent (10 million) of the world’s out-of-

school children are in Nigeria, 60 per cent (six million) of who are girls. Also, women represent between 60-79 per cent of Nigeria’s rural labour force.

Dare noted that the ongoing pandemic was blind to issues about women, particularly in gender-based domestic violence against women.

She revealed that the rate of domestic violence against women spiked during the lockdown.

“One of the things we have observed during COVID-19 is an increase in gender and domestic violence. In motor parks and market areas, the rate of gender-based violence against women increased during

COVID-19 by 58 per cent.”

She continued: “The plight of women is worse now in the pandemic. COVID-19 is actually gender-blind and has ignored women. And so, women have had their small SMEs totally collapsed, a woman cannot afford to purchase health care for herself or children. She cannot put them in school or contribute to household income.”

Under Tariro, 500,000 women in urban slums in Lagos will have access to qualitative services in health, nutrition, and early learning. Through these women, an additional two million children can have access to these services.

FG Received COVID-19 Abuja Doctors Suspend Strike as FCT Pays COVID-19 Allowance Donations from 328 Individuals, TheAssociation of Resident Doctors on Monday in Abuja. in the Isolation/Treatment centres. in the 2018 promotion exercise.”

Aigbovo said yesterday, The strike action was meant to be He said, “The Extra Ordinary in the Federal Capital Territory (FCT) Others, AGF Tells SERAP yesterday suspended its strike which General Meeting which held in the 14 general and district hospitals “The COVID-19 hazard and The federal government has confirmed the receipt of monetary donations from a total of 328 individuals, corporate bodies and federal lawmakers between April and July, 2020, to combat the COVID-19 pandemic.

Among the donors were 186 persons and organisations, who donated between N5 and N1,000.

This is according to the list of the donors released by the office of the Accountant-General of the Federation to the Socio-Economic Rights and Accountability Project (SERAP).

The AGF’s letter to SERAP indicated that the donors paid the funds into five dedicated commercial bank accounts opened by the federal government for the collection of

COVID-19 donations as well as three Treasury Single Accounts (sub-accounts) domiciled in the Central Bank of Nigeria.

The donations were made between April 1 and July 31, 2020, according to the undated letter signed by Mrs Odanwu Chizoba on behalf of the AGF. It indicated that the Federal Government got a total of N1,949,338,906.49 through the ‘COVID-19 Support Accounts’.

It gave the names of some of the persons, who donated between N5 and N1,000 as Kayode Okuta, Adongul Godwin Anchukwu, Jimoh Maryam Jadesola, Oyaleke Christianah Folashade and Hussain Dabo Muhammad.

commenced on September 7 over the non-payment of COVID-19 allowance and others.

The President of ARD in FCTA, Dr Roland Aigbovo, said the decision was sequel to a meeting held virtually

virtually yesterday (Monday) resolved to suspend the industrial action following the payment of the COVID-19 hazard allowance and implementation of variation for some of her members who were successful

in the FCT, including the Department of Public and Primary Healthcare.

Minister of FCT, Mohammed Bello, had approved the payment of the allowance to both the FCTA staffs and non FCTA staffs working

inducement allowance for April to June 2020 has been paid and variation implemented for some of our members. These were the two main reasons we went on strike.”

Safety Paramount in Reopening of Schools, UN Tells FG Michael Olugbode inMaiduguri The United Nations (UN) has called on Nigeria to prioritise school safety and learners’ protection over any consideration in reopening of schools after a long closure that was caused by the spread of COVID-19 pandemic disease.

A statement by the UNs’ office in Nigeria said that safeguarding education from attack is urgently

needed to restore confidence in schools as places of protection for children and teachers.

The statement, which was issued yesterday, noted that this is particularly pressing in light of COVID-19, which affected 46 million primary and secondary learners across Nigeria due to pandemic-related school closures.

A quote in the statement, which was attributed to the UN Resident

and Humanitarian Coordinator, Mr. Edward Kallon, said: “As state governments plan to reopen schools after prolonged closures, building a resilient education system to withstand future shocks should be included in pandemic response plans.”

Kallon noted that prioritising safety in schools for educators and learners is an indication of the government’s commitment to protecting investments in the education sector and a

validation of Nigeria’s endorsement of the “Safe Schools Declaration.”

He said that while the world marks the first-ever International Day to Protect Education from Attack under the theme “Protect Education, Save a Generation” more than three million children in the conflict- affected states of Borno, Adamawa and Yobe in North-east Nigeria are in need of education-in- emergency support.

200 LASEPA Officials Undergo Free Eye Tests Two hundred staff of the Lagos State Environmental Protection Agency (LASEPA) have benefited from the free medical eye screening exercise organised by the General Manager of the agency, Dr. Dolapo Fasawe.

The exercise which was in conjunction with a non-governmental organisation, Kingstripes Care Foundation, was aimed at preserving

the officials’ visual acuity and effective service delivery.

The two-day event, which took place on Friday and Monday at the conference room of the agency and themed: ‘Enabling Clearer Vision for a Cleaner Environment,” according to the initiator was to ensure effective performances, boost agency morale and raise awareness for environmental sustainability.

“Good health is a universally understood language, that cuts across individuality or educational level. The eyes are the windows by which we see and appreciate nature and the environment, therefore any delay in seeking medical intervention or unattended visual ailment, could lead to total blindness, hence the need to educate the staff on eye care.

“As a seasoned public health professional, I observed through my encounter with the staff, that as a result of failing vision, they often produced suboptimal results, which informed my major inspiration for the Free Eye care programme to further engage and inspire them for better performance for the betterment of the environment,” Fasawe said.

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Ëœ Î Ëœ ͺ͸ͺ͸ Ëž T H I S D AY

WEDNESDAYSPORTS LMC Invites NPFL Clubs to Submit 2020/21 NPFL Season Licensing Applications

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

Olawale Ajimotokan in Abuja Nigeria Professional Football League (NPFL) participating clubs have been invited

Shehu Dikko...LMC Chairman

to submit their respective licensing application which is a compulsory requirement for all clubs intending to participate in the 2020/21 NPFL season. This is further to the notification from the LMC to the clubs in a letter dated August 6, 2020.

Following the removal of the restriction on football activities by the Federal Government through the Covid-19 Task Force, the League Management Company (LMC) on Monday wrote to the clubs providing guidelines for license application in line with the Confederation of African Football (CAF) and the Nigeria Football Federation (NFF) licensing regulations/conditions.

An action plan and check list to guide the clubs through the process indicates that the LMC and the clubs will hold

virtual meetings starting from today, Wednesday, September 9 to September 18 to assist them on how to carry out documentation for licensing.

The clubs are expected to as from September 18thbegin submission of licensing applications with supporting document while spot checking of the clubs by the First Instant Body (FIB) under the jurisdictions of the LMC, to verify submissions made holds from September 21-26.

According to the action plan, a meeting of the FIB has been scheduled for September 30with the outcome of its decisions released on October 2while clubs that may not be satisfied with any decisions of the FIB are to file appeals not later than October 7.

The Appeals Body (AB) under the jurisdictions of the NFF is to meet on October 12to rule on the possible appeals that may be filed and release the decisions on October 14.

The Final decisions will be communicated to CAF

by October 16in line with CAF regulations.

Chairman of LMC, Shehu Dikko, who is also a member of the CAF Organising Committee for Inter-Clubs Competitions and Clubs Licensing Management, enjoined the clubs to take advantage of the weeklong virtual meetings to prepare all necessary documentation to qualify for licensing.

Licensing criteria will cover Financial, Legal, Administrative, I n f r a s t r u c t u re , Commercial, Health and Safety, Personnel, among others.

The NFF Club Lincensing regulation/ conditions have been in place since 2014 and has seen a gradual/phased application in line with the best international practices as the s e a s o n s progressed.

De Bruyne Named PFA’s Player of the Year Manchester City and Belgium midfielder Kevin de Bruyne has won the Professional Footballers’ Association men’s Player of the Year award.

De Bruyne, 29, praised City Manager Pep Guardiola for helping him earn the honour saying “he just lets me be me�.

Beth England, 26, won the women’s award having helped Chelsea do the Women’s Super League and League Cup double.

Liverpool defender Trent Alexander Arnold, 21, won the men’s Young Player of the Year award.

Jordan Henderson was among five Liverpool players to be named in the Premier League team of the season.

And Manchester United and England forward Marcus Rashford won a PFA merit award for his work combating child food poverty.

De Bruyne beat last year’s winner Virgil van Dijk, Alexander-Arnold, Sadio Mane, Henderson and City team-mate Raheem Sterling to the award voted for by his fellow players.

He is the first Manchester City player to win the award since its inception at the end of the 1973-74 season. “This is a big honour,� he said. “To be voted by your colleagues, competitors from other teams who you always play against on the field. That they vote for you for best player; it’s amazing. “It’s maybe strange that I’m the first one at City, seeing all the good players who played there before and who are still

Kevin de Bruyne...PFA Player of the Year

playing. But it’s nice to represent the club.�

On Guardiola, he said: “He gives me a lot of freedom; I don’t know why, that’s just the way it goes between us. “He knows in one way I will always put the team first and then obviously if I can help myself I’m going to do that.

He trusts me completely.�

For the third consecutive year, the top award for the men’s category went to a player whose team did not win the Premier League title.

Reds pair Van Dijk and Mohamed Salah were the past two winners and went on to lift the trophy last season, having come close in previous years.

De Bruyne, though, contributed a record-equalling 20 assists and scored 13 goals as Guardiola’s side came runners-up to Jurgen Klopp’s team last term.

England scored 21 goals in all competitions for the Blues and prevented Arsenal’s Vivianne Miedema claiming the women’s award twice in a row.

England also edged out her Chelsea team-mates Sophie Ingle, Guro Reiten and Ji So-yun, and Arsenal’s Kim Little. “It’s a huge honour to be voted for by your fellow peers, so thank you to everyone who voted for me,� England said.

Alexander-Arnold won the men’s young player of the year award, ahead of Manchester United duo Rashford and Mason Greenwood, Chelsea’s Tammy Abraham and Mason Mount, and Arsenal’s Bukayo Saka.

Cristiano Ronaldo (2nd left) ...scored his 100th goal against Sweden last night

Ronaldo Achieves 100 International Goals Target Portugal’s Cristiano Ronaldo became the first European to score 100 international goals in men’s football and then passed that mark with both goals in the UEFA Nations League 2-0 win over Sweden.

The Portugal captain curled a stunning free-kick into the top corner - the 57th of his career - to

reach the landmark.

The Juventus forward, 35, then fired in a fine second from outside the box.

Ronaldo, who played 81 minutes, is within eight goals of the world record.

Iran’s Ali Daei - the only man to score more international goals than Ronaldo - hit 109 during

his playing career from 1993 to 2006.

The next top scoring current players are India’s Sunil Chhetri (72) and Argentina’s Lionel Messi (70).

The result means defending Nations League champions Portugal have won their opening two games of this year’s event.

RESULTS Armenia 2-0 Estonia Georgia 1-1 N’Macedonia Belgium 5-1 Iceland Denmark 0-0 England France 4-2 Croatia Sweden 0-2 Portugal Cyprus 0-1 Azerbaijan

Relegated Leganes Refuse Loan Deal for Omeruo Relegated Spanish club CD Leganes have turned down several loan offers for Super Eagles defender, Kenneth Omeruo, insisting they would rather sell him on a permanent basis.

The experienced central

defender still has four years left on his contract at the Madrid club, who paid 5 million Euros last summer to make his loan deal from Chelsea permanent.

According to Scorenigeria. com.ng, it was previously

believed Leganes will be happy to let Omeruo go on loan so as to free the wage bill of his huge salary.

However, it is now understood that Omeruo could play in the Spanish second division in the new

season if Leganes did not find an outright buyer for him.

That could well impact on his international career after he fought his way back to the first team of the Super Eagles.

Everton Closing in on Tomori Loan Deal Chelsea and Everton are close to agreeing a deal which would see defender Fikayo Tomori join the Toffees on loan.

Following a stellar campaign under Frank Lampard at Derby during the 2018/19 season, Tomori was handed his fair share of opportunities to impress in a Chelsea shirt last term.

However, after a bright start which included a screamer against Wolves on his Premier League debut, the 22-year-old started to fall down Lampard’s centreback pecking order after a period of inconsistency around the festive period.

Tomori started just one league game after the new year and failed to make an appearance following the restart in June.

With Thiago Silva joining the club on a free transfer this summer, opportunities are set to be limited for Tomori during the upcoming campaign as Lampard attempts to transform the Blues into potential title challengers.

Thus, the 22-year-old has attracted interest from clubs including Rennes and Newcastle over a potential loan deal, but ESPN understands Everton are leading the race to bring the

Chelsea man to Goodison Park on a temporary basis - with talks said to be at an advanced stage.

Lampard regards Tomori as a hugely promising defender and is keen to send the man who made his England debut last November out on loan to gain vital Premier League experience instead of seeing his career stagnate on the Stamford Bridge bench.

The addition of Tomori would be another significant coup for Everton - who confirmed the signings of Real Madrid’s James Rodriguez and Napoli’s Allan this week.

Despite the emergence of Mason Holgate as a supreme ball-playing defender at the heart of the Toffees defence last season, there’s no doubting that centre back is an area Carlo Ancelotti could do with bolstering.

Yerry Mina and Michael Keane have both flattered to deceive ever since their respective moves to Merseyside, although there is hope that 18-year-old Jarrad Branthwaite will evolve into a stellar Premier League centre half after impressing at the back-end of the 2019/20 campaign.

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Ebuehi: Mental and Physical Pains of Missed Two Years Oluwashina Okeleji Nigeria’s Super Eagles defender Tyronne Ebuehi has insisted he is raring to go following his recovery from a ‘difficult’ knee injury.

Netherlands-born Ebuehi has not played first team football since he ruptured cruciate knee ligaments in July 2018.

It means he is yet to play for Portugal’s Benfica,who he joined from Dutch club ADO Den Haag after the World Cup in Russia.

The 24-year-old has returned to the Netherlands on loan to FC Twente, who won the Eredivisie title in 2010. “It’s been a long period out and a hard time for me,� an emotional Ebuehi told BBC Sport Africa. “Of course, questions like ‘could this be the end?’ can pop up from time to time. “You sometimes hear that with this type of major injuries players never return to the same level they were before the injury.

The injury hit him just as he was trying to settle in a new country after leaving home for the first time in his life. “It was difficult in the beginning I can’t lie about that,� he admitted. “To be away from the only country you have ever known, where you’re born and away from your family and friends.

You feel alone knowing it was just no longer possible for them to just pass by.� “It’s changed me a lot. Not only as a player but as a person. “Away in another country being alone. Sometimes it’s like an unseen tears of frustration because of the mental pain. “Like I always tell my family and friends now, that I’m thankful to God for this type of hard lessons sometimes in life. “It really made me aware of lot of things, like how to take care of my body now. How things can happen in football, how to deal with them. I’m thankful for the lessons that God gave me. “Going forward in my career, I know how to take care of myself and what’s good for me, how to handle any future injuries, hopefully it will not happen.

Ebuehi is now determined to take advantage of his latest chance back in the Netherlands. “I missed the entire 2018/19 season because of this difficult injury, but I’m happy that I’m fit now and I’m thankful that I am able to play the game

Ebuehi

that I love again,� he insisted. “Twente have given me the chance to show that the last two years was an unfortunate bad luck. “It would be convenient for some people to write me off but others know better.�

Ebuehi admits it would have been difficult for him to overcome his problems had he lacked a tough mental upbringing and family support. “I know the type of person and player that I am. I’ve always been that person and player that works hard, always did extra and a bit more than my teammates,� he pointed out. “So once I suffered this injury, it was the same mindset that I retained to enable me get back stronger from my injury. “Yes, things didn’t go the way they should’ve gone for me, it took a long time. “But one thing I’ve always been doing this last two years was to keep working hard.

That’s how I was raised and taught by my parents. “From the start of the year I have invested so much in myself to be as fit as possible. “My family and friends supported me by coming around as much as possible.

I’m thankful for having them in my life. This situation makes you appreciate life.

His first season at the club brought some very mixed emotions for Ebuehi because Benfica won the Portuguese league title and he could only sit and watch his team-mates play.

He admitted that it was not easy having to go to the club’s training ground for his rehabilitation and seeing the rest of the squad preparing as usual. “As a player, you always want to play and train. When you get in the dressing room, you greet other players but unable to join them,� he explained. “ It was hard for me because I wanted to be a part of the first team action desperately. “Most of the rehabilitation was done in Portugal to enable the club monitor my recovery.

Naturally, the club keeps a close eye on you when you are dealing with something like this. “You go to the club for rehab but no one to talk to when you return home. But luckily my family and friends popped in sometimes so that helped.�

One of his hardest moments came in May last year as Benfica won a 37th league title, with

Tyronne Ebuehi...back from traumatic knee injury Ebuehi cutting a forlorn figure in the dressing room as the players around him celebrated.

Cold and emotionless as teammates Haris Seferovic, Joao Felix and Rafa Silva celebrated wildly by popping champagne next to him, the Nigerian admitted that he was a poor spectator. “I didn’t play an official game. Of course, I was happy for my teammates and also for the club for winning the title.

But it didn’t really feel like I also won the title,� he reflected. “I was there but I didn’t feel like part of anything. It’s pointless to celebrate or fake it like I’ve done something when in reality I would’ve loved to contribute.�

Things improved slightly last season for Ebuehi as he finally got to play some football but was restricted to seven appearances for Benfica’s B team and the same number for the under-23’s.

But he then suffered another setback as a muscle injury dented his hopes of making an international comebackand he was forced to endure another frustrating spell on the sidelines.

His club frustrations were mirrored at international level.

With Nigeria struggling to fill a decade-long troubled rightback position, the Super Eagles finished third on their return to the Africa Cup of Nations in the summer of 2019 in Egypt.

Gernot Rohr’s young side fell agonisingly short in the semi-finals against eventual winners Algeria and Ebuehi said he passionately followed the crushing heartache in North Africa. “I saw every game. It wasn’t easy for me. I always wanted to be with the team and play in my first Nations Cup,� he said. “For me international breaks is always special, the friendships I’ve made and formed with the coaching and backroom staff, teammates and everyone in Nigeria. “I was very proud. I miss that a lot but life is life. I was happy to see them play the way they did, unfortunately we didn’t win but I know better days will come for us and more success. I cannot wait to be a part of the team again. “Of course teammates, the coach, the staff and even the fans were in touch. I spoke with a lot of my teammates. “William Troost-Ekong is like

a big brother who never stopped giving me the necessary support.

They’ve all been incredibly nice to me and I appreciate that. “I can’t thank the Nigerian fans enough. I don’t check my social media messages everyday but once in a while I do and I see some amazing and incredible messages. “So many people praying and wishing me well despite being away for two years. I will continue to be grateful for the support I get.�

Ebuehi remains philosophical about what he has been through

over the last two years. “The last two years has shown me that everything happens for a reason in life,� he insisted. “This big injury and difficulty with my rehab - I think it’s a big test and God wanted to show how strong I am. I think I’ve passed that test. “I have never invested so much of myself in training like I have done this past five months. I was always the one who wanted to do more than others. Honestly, this year I’ve done everything I could to be as much as I can.

“I’m thankful for the opportunity and the chance with Twente to show myself again and the player I am now.

I believe I am a stronger, more physical and better player than I was before the injury. “I don’t like to talk too much, I want my feet to do the talking. “This year is an opportunity to show that the last two years was just bad luck and no more injury will come. I know all the other things will follow and come naturally with hard work.�

-Culled from BBC SPORTS

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“You can see that all the juggernauts, movers and shakers, all the caterpillars and bulldozers of the APC in the state are here with me and there is no way only one person who does not want to accept the reality will be greater than them” – Chairman of APC in Taraba State, Hon. Ibrahim El-Sudi, declaring former Minister of Women Affairs, Mrs. Aisha Alhassan, as politically inconsequential and irrelevant in the state.

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The Perils of Vaccine Nationalism V ice President Yemi Osinbajo urged the global community at the weekend to avoid a scenario in which only the “highest bidder” would have access to the coronavirus vaccine.

As a matter of fact, the vice president was far from making a nationalistic statement; he actually spoke for all those described as the “wretched of the earth” by Frantz Fanon. This is because if the cost of a vaccine is prohibitive, those who could pay for the most sophisticated medical facilities in the pre-COVID-19 days would also afford the bills of expensive vaccines.

It is the poor majority, denied access to primary healthcare, who would miss out in the inequitable distribution of the vaccine.

Osinbajo spoke at a EURAFRICA forum.

The theme of the conference was “Towards a Realistic Euro-African Partnership During and Beyond the COVID-19 Era”.

The vice president rightly reminded his audience of the experience of poor countries at the outbreak of coronavirus pandemic: the access to testing kits and basic reagents was severely limited in some poor countries. The orders of poorer countries were seemingly ignored because they were considered commercially insignificant.

It is remarkable that the federal government has not been indifferent to the politics and economics of developing coronavirus vaccine across the globe. It is important that official assurance is given that as soon as effective vaccines are available in the market, the poor people of Nigeria willing to be vaccinated would not be left out of the distribution.

That is why Osinbajo’s call for distributive justice is apt and timely.

While the scientists are busy in their laboratories experimenting with the production of vaccines, policymakers should be thinking about how to make vaccine distribution equitable.

Incidentally, Nigeria is not left out of the scientific efforts to produce vaccines. It was exciting watching on television the other day the director-general of the Nigerian Institute of Medical Research, Professor Babatunde Lawal Salako, speak on the activities of his institute in this respect. He was, in fact, answering a correspondent’s question on the capacity for testing.

It’s hoped that adequate attention would be given to the institute by the government for this particular purpose.

This invariably would boost the public confidence in the possibility of developing a vaccine in Nigeria.

Interestingly, Salako prefaced his statement with the expression of the consciousness of this lack of public confidence like this: “it would surprise many people that we in Nigeria are also working on a vaccine.”

In 2020, it should no more be a surprise that a Nigerian institute could produce vaccines. For decades, Nigerian universities have been producing brilliant virologists, molecular biologists, biochemists and other

Osinbajo

experts.

To be sure, in many parts of the world, there is the general lackadaisical attitude to the compliance with the COVID-19 protocols. No! It is not only in Nigeria that the COVID-19 protocols are often flagrantly breached by government officials and the people alike. Yet, experts emphasise prevention as the best medicine yet for the pandemic.

In a situation in which precautions are not taken seriously enough, the development of a vaccine has become a public health imperative.

In the United States, President Donald Trump is hoping that the development of a vaccine by American scientists “by October” or “before the special day” would boost his chances of re-election. As usual, Mr. Trump has studiously ignored warnings from American experts on infectious disease including the highly revered Dr Anthony Fauci. Fauci, for instance, insists that for reasons of safety and efficacy, the process of producing a vaccine must be subjected to the necessary rigour in all its phases.

Prime Minister Boris Johnson says he would be happy if the much talked about Oxford vaccine happens to be the first to hit the market, although he would add that it’s not a matter of “competition.”

The western scepticism about the development of vaccines elsewhere in the world is, of course, well known. Russia

The obvious peril of vaccine nationalism is that as long as the coronavirus wreaks havoc in any country, the rest of humanity is at the risk of infection

has, however, gone ahead with the trials of its own vaccine despite the doubts about the efficacy expressed in some quarters.

The tiny island of Cuba has also reportedly reached an advanced stage in developing a vaccine. The reputation of Cuba’s social medicine has been globally acknowledged. In the course of this pandemic, Cuban doctors armed with remedies developed in the country have assisted countries in Asia, Europe and Africa. According to Granma, the official newspaper the of Cuba’s Communist Party, the country’s leading biotech and pharmaceutical group, BioCubaFarma, has got the greenlight from the regulatory authorities to begin clinical trials of the candidate vaccine.

BioCubaFarma says that the candidate vaccine “is capable of producing a strong immune reaction to COVID-19 infection.”

The organisation is believed to have the capacity of producing “millions of doses”.

Not a few experts around the world would be interested in the outcomes of the vaccine trials in Cuba.

Significantly, Cuba has demonstrated a keen sense of collaboration with others instead of the blind capitalist competition in which the interest of the poor is cynically discounted in access to healthcare.

For inexplicable reasons, Nigeria has been rather shy in exploring areas of collaboration with this revolutionary country in this respect.

The lacuna in the global efforts to develop coronavirus vaccine is that the rich countries, in particular, seem to be ignoring the global public health history in the war against the virus. A process that should be defined by collaboration and understanding has been turned into that of cut-throat competition. Profits and politics are being put before people’s health.

Before humanity is a needless choice between vaccine nationalism and vaccine multilateralism. Vaccine nationalists are concerned only about vaccination of people in their countries. But, vaccine multilateralism would reduce the risk of coronavirus infection across the globe. This is a more perceptive approach.

The political leaders promoting vaccine nationalism seem to equate their competition for vaccine production with the race for the space. This is a fundamental error.

It was reported last week that the World Health Organisation (WHO) had been forced to rethink its strategy for global procurement of COVID-19 vaccine. No thanks to the ferment of vaccine nationalism in different parts of the world. Rich countries are reluctant to embrace the WHO- coordinated multilateral approach to distribution. It is called the COVAX Programme. It was put in place in anticipation of the production of vaccines. Instead of this programme, the developed countries prefer “bilateral deals” in the true Trumpian tradition. In such a situation the access of the poor countries to the vaccine would be limited

because of costs. This is a recipe for a prolonged public health disaster.

There is a palpable fear among development activists across the globe that the posture of the rich countries may stymie the initiative launched in June to ensure an equitable distribution of two billion doses of effective by the end of next year.

The basic idea of the project is humanitarian. The rich countries are categorised as “self-financing” while about 92 poor countries are grouped as “funded.”

In other words, from the funds provided by the rich, the poor are subsidised to have access to the vaccine. It is pooling of risks to ensure that every country could have the purchasing power for vaccines.

The original plan was to persuade the rich countries to subscribe to a “committed purchase” of vaccines at a cost of $1.60 per dose. The conditions were made secure against pulling out at a later stage especially with the provision of the $8.10 guarantee per dose to be paid.

Things have now been relaxed by the WHO. Self-financing countries could opt out under a scheme of “optional purchase” of vaccines at $3.1o a dose.

The European Commission has offered 400 million euros to assist in supply of vaccines to some low and middle incomes countries while the full details of the European Union’s subscription are yet to be made public.

Norway, Germany and Japan have joined the COVAX train.

In sharp contrast, the U.S. and the UK have opted for their “private deals” spurred by vaccine nationalism.

In any case, the U.S. has already stopped funding the WHO activities.

China has indicated interest to join the global coalition to make vaccines available, but strangely the details of its agreement with WHO are still being worked out.

This is not good enough on the part of a country in which the first case of COVID-19 was recorded.

Meanwhile, the deadline for the payments has been shifted to October 19 as result of the selfish attitude of some rich countries.

The global experience in the eradication of infectious disease should ordinarily be instructive in confronting the coronavirus pandemic. The success so far recorded in exterminating polio is the most recent cheery news in public health.

Unbridled nationalism and myopic political calculus are grossly unhelpful in the circumstance. This is another situation in which the cold logic of market forces is not appropriate for distribution. At the least, that is the most profound lesson of the pandemic.

The primary consideration should be our common humanity.

For the obvious peril of vaccine nationalism is that as long as the coronavirus wreaks havoc in any country, the rest of humanity is at the risk of infection.

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