MONDAY 5TH OCTOBER 2020 by THISDAY Newspapers Ltd

PIB Proposes 2. 5% Fund for Host Communities Emmanuel Addeh in Abuja The Petroleum Industry Bill (PIB) has proposed that the host communities will receive 2.5 per cent fund on the basis of the oil companies’ actual operating expenditure for the preceding year.

The previous versions of the PIB that were not passed had provided for the creation of Petroleum Host Communities Fund (PHCF) into which the companies will contribute 10 per cent of their operating expenses. If the reform bill currently

before the National Assembly sails through in its current form, the federal government will have the powers to revoke licences held by oil companies which fail to incorporate a development trust fund for their host oil communities The section of the bill

dealing with the rights of host communities also indicated that the review had become necessary to foster sustainable prosperity within host communities and provide direct social and economic benefits from petroleum operations to the communities.

In addition, it stated that the move would enhance peaceful and harmonious co-existence between licensees or lessees and host communities and create a framework to support their development. However, the trust fund to be created will be regulated

by “The Commission and Authority” which will also be established by the bill on the “administration, guide and safeguard the utilisation of the trust fund and have the oversight responsibility Continued on page10

Fidelity Bank Board Appoints Obih, Opara as Directors...Page 8 Monday 5 October, 2020 Vol 25. No 9310. Price: N250

www.thisdaylive.com TR

TODAY'S WEATHER

ABUJA 25°C-33°C

MAIDUGURI 31°C-31°C

UT H

& RE A S O

ENUGU 25°C-28°C

KANO 27°C-33°C

LAGOS 24C-27°C

PORT HARCOURT 20°C-30°C

Presidency: Buhari will Not Succumb to Threat, Undue Pressure over Restructuring Claims enemies of Nigeria sponsoring discord ACF recants, calls for referendum on Nigeria’s future APC has not abandoned restructuring, says Fayemi Deji Elumoye, Omololu Ogunmade in Abuja and John Shiklam in Kaduna The presidency in a veiled reference to renewed agitations for restructuring of Nigeria yesterday said the President Muhammadu Buhari administration would not be intimidated into making any hasty decision over the matter, claiming that the country's enemies were

actively sponsoring discord in the polity. There have been renewed agitations for the country to be restructured to avoid its break-up, with the General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, joining the fray at the weekend. But the presidency in two Continued on page10

IG Bars FSARS from Routine Patrols Osinbajo praises ban

Kingsley Nwezeh in Abuja After defying the earlier directives by former Inspector General of Police (IG), Mr. Ibrahim Idris, the operatives of the Federal Special AntiRobbery Squad (FSARS) and other police tactical squads have again been barred by the IG, Mr. Mohammed Adamu, from routine patrols, wearing mufti and engaging in stop-

and-search. The latest directive followed the extra-judicial executions, intimidation and general abuse of the rights of citizens by the operatives of the FSARS. A citizen-led twitter campaign tagged: "End SARS" was launched against the killings and arbitrary arrests by FSARS personnel and had Continued on page10

GETTING SET FOR ONDO... Chairman, Independent National Electoral Commission, Prof. Mahmood Yakubu (left), and Electoral Oﬃcer, Ifedore Local Government Area, Mrs. Heritage Gbobo, during the inspection of non-sensitive materials ahead of next Saturday’s Ondo State governorship election in Ifedore…weekend

We’re United behind Jegede, Say PDP Govs...Page 5

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

MONDAY, ͽ˜ ͺ͸ͺ͸ ˾ T H I S D AY

NEWS

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

We’re United behind Jegede, Say PDP Govs Party warns against rigging of Ondo poll

Chuks Okocha in Abuja The Peoples Democratic Party (PDP) Governors’ Forum yesterday restated its commitment to the victory of the governorship candidate of the Peoples Democratic Party (PDP) in Ondo State, Prof. Eyitayo Jegede (SAN), stating that they are united for the victory of their candidate and the party at the October 10 governorship election. The PDP National Campaign Council for Ondo State Governorship Election also yesterday urged President Muhammadu Buhari not to succumb to pressure from the All Progressives Congress (APC) and its governorship candidate, Governor Rotimi Akeredolu (SAN), to rig the governorship election, stressing that any attempt to manipulate the election will lead to a breakdown of law and order in the state. The PDP governors said that there is no division in PDP Governors' Forum with respect to Ondo State gubernatorial election. In a statement issued by the Director-General of the Forum, Hon. Cyril Maduabum, the PDP governors said: "For the avoidance of doubt, the PDP Governors’ Forum is united, strong and primed to do its

utmost to elect our candidate in the Ondo governorship election, Prof. Eyitayo Jegede (SAN), who has the experience, dynamism and programme of action to return Ondo State to her glory days." The governors described the report that they are divided as "the handwork of 5th columnists, who are afraid of the popularity of the PDP candidate and his likely victory, and has devised this means of creating doubts in the minds of Nigerians as a strategy for stopping the march of victory by PDP in Ondo. Nothing can stop the march of progress in Ondo. Indeed, Jegede's victory is one whose time has come." According to the statement, "the forum speaks with one voice and this naked attempt to sow division and discord within its ranks has failed miserably. "As a matter of fact, the PDP governors just rose from a virtual meeting a few days ago with a firm resolve and commitment to make sure that all hands are on the deck to support and deliver the PDP candidate. "The PDP governors are fully aware of the importance of the Ondo elections to the image, solidarity and fortunes of the PDP as a political party. The governors are in no doubt that any division in its ranks will be

counterproductive to PDP, her candidate and its quest to restore democracy, good governance, and accountability not only in Ondo State but Nigeria at large. "The PDP governors will in fact storm Akure on 7th October for the grand finale of the PDP governorship campaign to conclude a memorable grassroots-based campaign mounted by the PDP and her candidate in the last few weeks that has seemingly turned the tide in Ondo. Meanwhile, the campaign council yesterday urged the president not to succumb to pressure from the APC and its governorship candidate, Akeredolu, to rig the governorship election, warning that any attempt to manipulate the election will lead to a breakdown of law and order in the state.

The council further said that it has reviewed the forthcoming election and come to the conclusion that its candidate, Jegede, enjoys the greater support of the overwhelming majority of Ondo people and he is indisputably in good stead for victory on Saturday.” Addressing a press conference in Abuja yesterday, the National Publicity Secretary of the PDP, Mr. Kola Ologbondiyan, said this is despite the recourse to violence, threats and hate comments as well as desperation by the APC and Akeredolu, to manipulate government institutions to work against the people and rig the election for them. The party said it is not Jegede’s fault that Akeredolu failed as a governor, adding that the people identified him (Jegede) as a rallying point

in their quest for a new and purposeful leadership. According to him, "Akeredolu wasted the chance given to him and should have nobody but himself to blame for the electoral loss that would befall him on Saturday. "Our campaign, therefore, calls on President Muhammadu Buhari not to succumb to pressure by a failed Governor Akeredolu and the APC to renege in his resolve not to interfere in elections, as amply witnessed in the September 19 Edo election," he said. The PDP urged Buhari to note the commendations coming to him from all parts of the country and the global community over the non-interference of his presidency in the conduct of a free, fair and credible election in Edo State, a development

that allowed the will of the people to prevail. Speaking on the Ondo poll, the National Chairman of the PDP, Prince Uche Secondus, debunked the report that the governors elected on the platform of the party were divided over the candidature of Jegede as the candidate of the party. He spoke as Sokoto State Governor, Hon. Aminu Tambuwal, disassociated himself from the allegation that he is supporting the Zenith Labour Party (ZLP) candidate, Mr. Agboola Ajayi in the forthcoming election. Secondus told THISDAY that the report that the PDP governors are divided is part of the dying kicks of the APC in Ondo State to distract the people from his poor performance in office.

NASU, SSANU Begin Warning Strike Today Onyebuchi Ezigbo in Abuja The Non-Academic Staff Union of Educational and Associated Institutions (NASU) and the Senior Staff Association of Nigeria Universities (SSANU) will commence their 14-day warning strike today. In a letter dated September 28, 2020, jointly signed by the General Secretary of NASU, Mr. Peters Adeyemi, and SSANU President, Mr. Samson Ugwoke, and addressed to branch Chairmen of NASU and SSANU, the unions said the decision to embark on a 14-day warning strike was in fulfillment of their threat to begin the action as soon as the federal government directs universities to resume academic activities. The letter read in part: “Kindly recall earlier information on the above subject matter wherein it was conveyed that the Joint Action Committee of NASU and SSANU would embark on a 14day industrial action immediately universities resume following the COVID-19 lockdown. “Following the recent directives from the National Universities Commission (NUC) to Vice-Chancellors for the immediate resumption/safe reopening of universities, you are hereby directed to commence a 14-day warning strike effective from October 5 to 19, 2020.” The two unions said the warning strike could turn into full-blown industrial

action if their grievances are not addressed by the federal government. They listed their grievances to include, inconsistencies of the Integrated Payroll and Personnel Information System (IPPIS) in the payment of salaries of their members; non-payment of arrears of earned allowances being owed NASU and SSANU members despite various memoranda of understanding; non-payment of arrears of national minimum wage to their members and non-payment of retirement benefits to outgone members. The non-academic staff unions also alleged lack of seriousness and delays by the government in the renegotiation of the 2009 FG/NASU and SSANU agreements; usurpation of the headship of non-teaching units by academic staff in clear violation of conditions of service and establishment procedures; neglect and poor funding of state universities; and corruption in the university system. They also cited nonconstitution of visitation panels for the universities in line with the laws as other developments that are impacting negatively on their members. “Please note that this warning strike is a prelude to a full-blown, total and indefinite industrial action if the grievances highlighted above are not properly addressed,” the unions warned.

FIXING ROADS... L-R: Ogun State Governor, Prince Dapo Abiodun; Commissioner for Works and Infrastructure, Mr. Ade Akinsanya; and Hi-tech Construction oﬃcial, Mr. Anthony Marc, during the inspection of on-going road projects in Abeokuta…weekend

Five Persons Injured as APC, PDP Supporters Clash in Ondo James Sowole in Akure No fewer than five persons were injured yesterday as supporters of the ruling All Progressives Congress (APC) and the opposition Peoples Democratic Party (PDP) clashed in Akure, the Ondo State capital. During the clash, which started late in the evening, at Obanla/ Isola junctions in the state capital, guns, cutlasses and clubs were freely used by suspected thugs. When the clash broke out, persons at relaxation joints around Obanla, which is a stronghold of the PDP, ran helter-skelter for their lives. Sequel to the clash, the major Adesida/Oyemekun Road was deserted for hours by motorists and early churchgoers, to avoid being caught in the crossfire. During the clash, two persons, were shot while others sustained

machete cut injuries. When the clash started, policemen from the ‘A’ Division, which is a few meters from the scene of the fight, were mobilised to disperse the hoodlums. The Police Public Relations Officer (PPRO), Ondo State Command, Mr. Tee-Leo Ikoro, confirmed the incident. He said the command mobilised men to the place last night to restore normalcy in the area. Expectedly, the two rival political parties have been exchanging verbal attacks on the incident and a spate of violence on the forthcoming election. The spokesperson for the Akeredolu/Ayedatiwa Campaign Organisation, Mr. Olatunde Olabode, accused the PDP of launching unprovoked attacks on the APC and anybody that

adorn the party's cap or best. Olabode in a statement alleged that PDP thugs also attacked even taxi drivers that paste Akeredolu’s posters on their vehicles. He said: "The Akeredolu/ Aiyedatiwa Campaign Organisation strongly condemns the unabated attack on supporters of the All Progressives Congress (APC) by thugs loyal to the Peoples Democratic Party (PDP) in Akure, the state capital. "This latest recourse to attack, thuggery and wanton violence by the PDP is the height of insensitivity, irresponsibility and indecency. It is obviously provocative.” But in a swift reaction, the spokesperson of Eyitayo Jegede Campaign Organisation, Mr. Gbenga Akinmoyo, alleged that APC thugs turned Akure to the city of gunfire.

Akinmoyo alleged that the PDP supporters were attacked in their homes with gunfire raging across the city, including Byepass, Isolo, Obanla, Okeijebu all the way to Agbogbo and the expressway. He claimed: "The thugs who got to the scene around 7.30 p.m were fully armed with sophisticated ammunition and rained gunshots sporadically at the office complex where many people were reported to have sustained different degrees of injuries. They are now receiving treatment in an undisclosed hospital. “It was also reported that these contracted APC thugs are now in towns in their hundreds hunting for whoever that is putting on Eyitayo's cap and other souvenirs with Jegede's inscription to violently attack such.”

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

MONDAY, ͽ˜ ͺ͸ͺ͸ ˾ T H I S D AY

NEWS

FidelityBankBoardAppointsObih,OparaasDirectors Nume Ekeghe The Board of Directors of Fidelity Bank Plc has announced the appointment of Mr. Henry Obih as an independent non-executive director with effect from September 21, 2020. The bank also appointed Dr. Kenneth Opara as an executive director. According to a statement yesterday, the appointments have been approved by the Central Bank of Nigeria (CBN). Opara will assume office as the executive director in charge of Lagos and SouthWest Directorate on January 1, 2021, taking over leadership of the directorate from Mrs. Nneka Onyeali-Ikpe, who was recently appointed Managing Director/CEO - Designate. Nneka Onyeali-Ikpe will succeed Mr. Nnamdi Okonkwo, who retires as Managing Director/CEO on December 31, 2020, upon the completion of his contract tenure in line with the internal policies of the bank. Commenting on the latest appointments, the Chairman, Board of Directors, Fidelity Bank Plc, Mr. Mustafa ChikeObi, said: “Both appointments are in furtherance of our positioning for the next growth phase. We welcome Henry and Ken to the board and believe they will make significant contributions that will sustain the performance trajectory of the bank in line with our strategic intent.” Obih was the Group Executive Director/Chief Operating Officer (GED/ COO), Downstream, Nigerian National Petroleum Corporation (NNPC) until his retirement in 2019 and was subsequently appointed to the Board of Nigeria Liquefied Natural Gas Limited (NLNG) in July 2020. He joins the board of Fidelity Bank Plc with significant cross-functional work experience and exposure spanning over three decades, across different climes

including Africa, Europe, Asia and the Americas, the statement explained. “He has extensive experience in project and performance management, manufacturing and operations management, sales and marketing, strategy and business planning/analysis, business development/ re-engineering, general management, corporate governance and risk management. It added: “Prior to joining NNPC as GED/COO in 2016, Mr. Obih had a stellar 22-year career at Mobil Oil Nigeria (ExxonMobil Nigeria Downstream) and held several high-profile positions in the company, including being Executive Director, Retail, and Executive Director, Operations, Customer Service and Logistics. “His recent leadership roles include board positions at Nigeria Gas Marketing Company Limited, Pipelines and Products Marketing Company Limited, NNPC Retail Limited, NIDAS Marine Limited (a subsidiary of NNPC in a joint venture with Daewoo Industries South Korea), NIKORMA Limited (a subsidiary of NNPC in a joint venture with Hyundai Heavy Industries South Korea) and Duke Oil Company Inc,” it added. Obih holds a Bachelor’s Degree in Mechanical Engineering from the University of Nigeria, Nsukka (UNN) and an MBA in Financial Management from the University of Bradford, Yorkshire, England. His professional affiliations include membership of the Institute of Directors, Society for Corporate Governance and Council for the Regulation of Engineering in Nigeria (COREN); Nigerian Institution of Mechanical Engineers; Institute of Credit Administration and Fellow of the Nigerian Society of Engineers. He has attended executive programmes in leadership,

strategy, finance, corporate governance, and business management at some of the world’s leading institutions, including Columbia Business School, New York; Massachusetts Institute of Technology (MIT); IMD Lausanne, Switzerland; London Business School, London and Lagos Business School, Nigeria. Opara, who currently serves as General Manager/Regional Bank Head, Ikeja Region, has over 29 years’ experience in banking and worked at various financial institutions including legacy Omega Bank Plc, Equatorial Trust Bank Plc and Manny Bank Plc, before joining Fidelity Bank Plc in 2006, following its merger with Manny Bank Plc. He has core-banking experience in diverse areas of banking including Credit, Treasury, Retail, Consumer

and Commercial Banking, International Operations and Corporate Banking and has held senior management positions in the industry including Divisional Head, Managed SMEs, Multilateral Agencies & Trade Missions; Division Head, SMEs, Electronic & Consumer Banking; Head, Private & Consumer Banking, Head, Affinity Banking & Corporate Consumer Banking; and Head Consumer & Commercial Banking. “The appointment of Ken is well deserved and in line with our succession planning policy. He has made significant contributions to the growth of the region as well as the various divisions he has headed in the bank,” Fidelity Bank’s MD/CEO, Mr. Nnamdi Okonkwo, said. Opara has attended executive management

Obih programmes at Harvard Business School, Kellogg School of Management, Wharton, INSEAD and Lagos Business School amongst others. He is a fellow of the Chartered Institute of Bankers of Nigeria (CIBN) and an active member of the Institute’s governing council, where he currently serves as 1st vice president, having

Opara previously served as 2nd vice president and national treasurer of the institute. He holds a Bachelor of Science (B.Sc.) degree in Finance and Master of Business Administration (MBA) from the University of Nigeria, Nsukka and a PhD in Credit Management from the International University of Panama.

REJOICING WITH UBA... L-R: Peoples Democratic Party chieftain, Chief Chris Uba; Imo State Governor, Senator Hope Uzodimma; and Minister of State for Mines and Steel Development, Dr. Uche Ogah, at the traditional marriage ceremony of Uba's daughter at Uga, Anambra State...weekend

APC: PDP Has No Moral Authority to Query Buhari's Govt Stop insulting our govs, opposition party tells Buni Chuks Okocha and Adedayo Akinwale in Abuja The All Progressives Congress (APC) has said the Peoples Democratic Party (PDP) has no moral authority to caution or query President Muhammadu Buhari’s administration. This is coming as the main opposition party yesterday cautioned the National Caretaker Chairman of the All Progressives Congress (APC) Governor Mai Mala Buni of Yobe State, to stop sending impostors in his party to insult PDP governors and other patriotic leaders just to divert attention from the failures and problems of his party. The Deputy National Publicity Secretary of the APC, Mr. Yekini Nabena, in a statement issued yesterday, said the subsidy regime and the Nigerian National Petroleum Corporation (NNPC) have been so transparent under the Buhariled administration, unlike

under during the previous PDP administrations. He stressed that under the PDP administration, NNPC was accountable to no one to the extent that it owed the government up to the sum of N704 billion for gross violations of the subsidy scheme. "It is baffling that the Peoples Democratic Party (PDP) has to be told it does not have any moral authority to caution or query the President Muhammadu Buhari administration. "Between 2006 and 2013, PDP governments spent over N5.42 trillion on subsidy, which was 15.57 per cent higher than the 2014 national budget of N4.69 trillion. It was also under the PDP government that the number of fuel importers rose from five in 2006 to 10 in 2007, 19 in 2008 and spiked up to 140 in 2011. This was one of the biggest causes of corruption because many firms only existed on paper and collected

subsidies on fuel that never existed." The party spokesman said to make matters worse, 60 million barrels of oil were stolen under the watch of PDP- controlled NNPC between 2009 and 2012. Nabena stressed that NNPC during the PDP years also failed to remit $20 billion in oil revenues owed to the nation, which was confirmed by PwC and Deloitte investigative reports. According to him, "The PDP has no genuine reason to cry wolf or display moral authority over subsidy under the Buhari administration" Nabena added that PDP Spokesman, Mr. Kola Ologbondiyan, displayed his lack of understanding when he compared the minimum wage of Saudi Arabia and Egypt to buttress his points. Nabena said he, however, forgot that Saudi Arabia pumps 12million barrels of crude oil per day as against Nigeria’s 1.8million barrels, adding also that Saudi Arabia

has a population of 35 million people, while Nigeria has a population of over 200 million people. He emphasised that Saudi Arabia has 15 per cent tax to GDP while Nigeria has 7.5 per cent tax to GDP, while Saudi Arabia has $750 billion in its foreign reserves while Nigeria has only $36billion, adding that Ologbondiyan also failed the simple arithmetic in calculating the cost and standard of living in both countries. Meanwhile, the PDP has cautioned the National Caretaker Chairman of the APC, Buni, to stop sending impostors in his party to insult PDP state governors and other patriotic leaders to divert attention from the failures and problems of his party. The main opposition party urged Buni to design a more constructive way of containing the manifest failures of the APC government at the federal and state levels

instead of this jealous act of seeking to use nonentities to attempt to drag down PDP’s performing governors and other well-meaning Nigerians. The PDP said that it is indisputable that governors elected on its platform have performed and are performing better, by all standards, than their counterparts in the APC. According to a statement by the National Publicity Secretary, Ologbondiyan, Nigerians across the country already know that the standard of living, infrastructural development, wealth creation, employment opportunities as well as growth in critical sectors, including aviation, education, health, transportation power, energy, manufacturing, and commerce are better in PDP states. According to him, it is incontrovertible that contrary to the lies of APC impostors, between 2006 and 2013, successive PDP administrations effectively managed the

resources of the nation and grew the economy to become one of the fastest growing in the world as recorded by Fitch and the IMF. He explained that perhaps the APC should be reminded that within this period, the PDP achieved the historical debt relief (of about $18 billion), which freed Nigeria from the suffocating shackles of huge external borrowings of the past. He explained that it is a fact that during this period, the PDP administrations reduced the nation’s budget deficits by 72 per cent, stabilised the currency and overall economy to achieve the doubling of the GDP within four years from $55.65billion in 2003 to $114.36billion in 2006, as acknowledged by IMF database. This, he said is in addition to improving the FDI from less than $700 million per annum in 1999, to $4.3 billion by 2007, which earned Nigeria a BB credit rating by Fitch.

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

MONDAY, ͽ˜ ͺ͸ͺ͸ ˾ T H I S D AY

PAGE TEN PIB PROPOSES 2. 5% FUND FOR HOST COMMUNITIES for ensuring that the projects proposed by the board of trustees are implemented,” the bill said. When passed into law, the trust fund is expected to be incorporated within 12 months from the effective date for existing oil mining leases. The bill provides: “Failure by any holder of a licence or lease governed by this Act to comply with its obligations under this chapter may be grounds for revocation of the applicable licence or lease. “The constitution of the host communities’ development trust shall allow the host communities development trust to manage and supervise

the administration of the annual contribution of the settlor contemplated under this chapter and any other sources of funding. “The objectives of the host community development trust shall include, to - finance and execute projects for the benefit and sustainable development of the host communities; undertake infrastructural development of the host communities within the scope of funds available to the Board of Trustees for such purposes; facilitate economic empowerment opportunities in the host communities as well as advance and propagate educational development

for the benefit of members of the host communities." It further noted that the fund to be set up would support healthcare development for the host communities; support local initiatives within the host communities, which seek to enhance protection of the environment and local initiatives within the host communities which seek to enhance security. It stated that notwithstanding the provisions of the Act relating to funding of the trust fund, nothing shall preclude the host communities from their entitlements under any other law. On the funding of the trust

fund, the bill provides that: “Each settlor, where applicable through the operator, shall make an annual contribution to the applicable host community development trust fund of an amount equal to 2.5 per cent of its actual operating expenditure in the immediately preceding calendar year in respect of all petroleum operations affecting the host communities for which the applicable host community development trust was established." The PIB stressed that the settlor shall, in the determination of membership of the Board of Trustees, include persons of high integrity and professional

standing, who may not necessarily come from any of the host communities. While 75 per cent will be spent on capital projects, 20 per cent shall be paid into a reserve fund, which sums shall be invested for the utilisation of the host community development trust whenever there is a cessation in the contribution payable by the settlor. It stated that an amount not exceeding five per cent will be utilised solely for the administrative cost of running the trust and special projects, which shall be entrusted by the Board of Trustee to the settlor, provided that at the end of each financial year,

the settlor shall render a full account of the utilisation of the fund to the BoT. The funds of the host communities development trust created pursuant to the Act shall also be exempted from taxation, the bill indicated. It stated that where in any year, an act of vandalism, sabotage or other civil unrest occurs that causes damage to petroleum and designated facilities or disrupts production activities within the host community, the community shall forfeit its entitlement to the extent of the cost of repairs of the damage that resulted from the activity.

emerging violent crimes in the country. He, however, condemned every act of unprofessionalism, abuse of human rights and high-handedness by some personnel of the squads. Consequently, the IG ordered the X-Squad and the Monitoring Unit to embark on immediate and massive nationwide monitoring of activities of tactical squads and other police officers on the road. "They are to ensure prompt arrest, investigation and prosecution of all erring police officers who violate these directives and other extant regulations of the force," it said. The IG also warned that henceforth the Commissioner of Police in charge of FSARS, Commissioners of Police in charge of State Commands and the FCT as well as their supervisory Zonal Assistant Inspectors General of Police would be held liable for any misconduct within their Area of Responsibility (AOR). He, therefore, charged them to ensure effective supervision and mentoring of the personnel of the tactical squads under their jurisdiction.

The IG got the immediate backing of Vice President Yemi Osinbajo (SAN), who applauded the banning of FSARS and other tactical squads from patrols. Osinbajo, who spoke to State House correspondents yesterday at his Abuja residence described the routine attacks on young people as infuriating, condemning the actions of some officers he called bad “eggs of the Force.” The vice president urged the police to stick to their mandates, commending Civil Society Organisations (CSOs) for speaking up against injustices meted out by some security operatives on young Nigerians. However, yesterday’s directive by the IG was not the first time the police authorities would be responding to protests of FSARS. In September 2018, following an outcry over SARS brutality, the then IG, Idris, issued a similar directive. “You are barred from searching handsets and laptops of innocent citizens, unless the search is directly linked to a case or directed by IG or any person or persons he so delegated,” the IG had said.

Before this directive, the then Acting-President Yemi Osinbajo had in August 2018 directed the IG to overhaul SARS. “Following persistent complaints and reports on the activities of the Special Anti-Robbery Squad (SARS) that border on allegations of human rights violations, His Excellency, Prof. Yemi Osinbajo SAN, ActingPresident, Federal Republic of Nigeria has directed the Inspector General of Police to, with immediate effect, overhaul the management and activities of SARS and ensure that any unit that will emerge from the process, will be intelligence-driven and restricted to the prevention and detection of armed robbery and kidnapping, and the apprehension of offenders linked to the stated offences, and nothing more,” a statement from his office had read. Following the directive, Idris renamed the police outfit federal SARS (FSARS) and ordered operatives to go for psychiatric evaluation. He also ordered SARS operatives to wear uniforms with identification tags. However, the notorious

FSARS defied Idris’ order and continued extra-judicial killings, harassment and extortion of innocent citizens, forcing the current IG to repeat the same other, two years later. Meanwhile, two operatives of the FSARS and their civilian accomplice operating in Lagos State, Inspector Sale James, Inspector Monday Uchiola and Mr. Okechukwu Ogbonna were arrested by the Lagos State Police Command for acts of professional misconduct including extortion and intimidation of innocent citizens. The operational vehicle of the men was also impounded and disciplinary procedure has already commenced against the defaulters. Mba said the IG reaffirmed his commitment to bequeathing to Nigerians, a reformed police force that is accountable, responsible and ever ready to defend and uphold the rights of the citizens while discharging its duties of keeping the people safe and secure. He enjoined the citizens not to allow the misconduct by a few personnel of the force to negatively impact on their belief, confidence and trust in the police.

IG BARS FSARS FROM ROUTINE PATROLS trended for some time without a satisfactory response from police authorities. The killing of innocent citizens in Delta and Lagos States at the weekend had prompted the extension of the "End SARS" campaign to "Kill SARS," setting the stage for a potential all-out citizen-led verbal attack on FSARS personnel. There were still twitter alerts of SARS operatives searching youngsters from Oworonshoki to Kara and Sango Bus Stop in Lagos as of the time of filling this report. But a terse statement issued yesterday by the Force Headquarters in Abuja said other tactical squads affected by the ban include the Special Tactical Squad (STS), Intelligence Response Team (IRT), Anti-Cultism Squad and other tactical squads operating at the federal, zonal and command levels were banned from carrying out routine patrols and other conventional low-risk duties notably stop-and-search duties, checkpoints, mounting of roadblocks, traffic checks among others. The statement signed by Force PRO and Deputy Commissioner of Police (DCP),

Mr. Frank Mba, said the ban takes immediate effect. "No personnel of the force is authorised to embark on patrols or tactical assignments in mufti. They must always appear in their police uniforms or approved tactical gear," he said. The statement said: "IG's directives came against the backdrop of findings by the leadership of the Force that a few personnel of the tactical squads hide under this guise to perpetrate all forms of illegality, contrary to the Standard Operating Procedure (SOP), Code of Conduct and Rules of Engagement establishing the squads. "Specifically, the IG has warned the tactical squads against the invasion of the privacy of citizens particularly through an indiscriminate and unauthorised search of mobile phones, laptops and other smart devices. They are to concentrate and respond only to cases of armed robbery, kidnapping and other violent crimes when the need arises." The IG noted that the FSARS and other police tactical squads remain a critical component of the force in confronting prevailing and

PRESIDENCY: BUHARI WILL NOT SUCCUMB TO THREAT, UNDUE PRESSURE OVER RESTRUCTURING separate statements said Buhari would not be pressured to make any decision that would not be in the interest of the nation, making it clear that the president would only work with the legislature on issues of national concerns. “The presidency responds to the recurring threats to the corporate existence of the country with factions giving specific timelines for the president to do one thing or another or else, in their language, “the nation will break up,” it said in a terse statement last night by Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, adding firmly: “This is to warn that such unpatriotic outbursts are both unhelpful and unwarranted as this government will not succumb to threats and take any decision out of pressure at a time when the nation’s full attention is needed to deal with the security challenges facing it at a time of the Covid-19 health crisis.” It emphasised: “Repeat: this administration will not take any decision against the interests of 200 million Nigerians, who are the president’s first responsibility under the constitution, out of fear or threats especially in this hour of a health crisis.

“The president as an elected leader under this constitution will continue to work with patriotic Nigerians, through and in line with the parliamentary processes to finding solutions to structural and other impediments to the growth and wellbeing of the nation and its people.” Earlier in the day, the presidency had in another statement by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, accused the enemies of the country of sponsoring and encouraging discord and anarchy against the government for either selfish ends or as revenge for perceived injuries. It warned Nigerians to beware of such persons, saying that the Buhari-led government was only interested in engendering better quality of life for the citizenry. It claimed that some opposition elements against the government had wanted to hide under the botched planned strike by organised labour to attack the Buhari administration. It, however, noted that some people were disappointed that the organised labour followed the part of honour by suspending the strike over the increase in prices of petrol and electricity tariff.

According to the statement, “Since Organised Labour toed the path of sense and sensibility last week, seeing reason with the imperatives of fuel price adjustment, and opening a further window of dialogue on the service based electricity tariff, some groups of Nigerians have been dolorous, disgruntled, and disconsolate. “They had apparently perfected plans to use the strike by the labour unions as a smokescreen to unleash anarchy on the land, fomenting mayhem and civil disobedience. But the plan blew up in their faces, and they have been in severe pains since then. They have launched a series of tirades against organised labour.” However, a traditional supporter of the government, the Arewa Consultative Forum (ACF), yesterday bowed to pressure from the other geopolitical zones and called for a referendum to decide on the fate of the country. The Pan Yoruba sociopolitical organisation, Afenifere; apex Igbo socio-political group, Ohanaeze Ndigbo; the Middle Belt Forum; and the Pan Niger Delta Forum (PANDEF), have been calling for the restructuring of the country and the implementation of the 2014 Confab Report. The RCCG overseer,

Adeboye, had also on Saturday added his voice to the list of prominent Nigerians calling for restructuring, warning of a heightened danger of break-up if the country’s leaders failed to reform. He suggested a merger of the British and American systems of government for Nigeria, stressing that the country should develop a system peculiar and unique to it. The ACF had always argued that members of the National Assembly are the legitimate representatives of the people that should decide the future of the country. But in an exclusive interview with THISDAY yesterday, the spokesman of ACF, Mr. Emmanuel Yawe, agreed that Nigerians should be given an opportunity to decide the future of the country but pointed out that advocates of restructuring are not coherent. “Our position is that Nigerians should be given the opportunity to decide whether the country should remain one or to break up,” Yawe said, adding: “There should be a referendum to decide on the fate of Nigeria. Once you have that referendum, if Nigerians decide to live together then they should decide on what form of government they want - whether it is federalism,

unitary, parliamentary or whatever system of government they want.” He said the referendum would also decide on restructuring, explaining that the people calling for restructuring had not really given a coherent message on what to restructure the country into. According to him, many people have different ideas about restructuring. “Some people are calling for fiscal federalism; to some people, restructuring means Nigeria should break up. Some people just want a better deal from Nigeria; they want to control the resources found in their domains. So you have different interpretations of restructuring,” he noted. He said the people agitating for restructuring, don’t really know what they want other than abusing the north. “It appears the only thing they have in common is hatred for the north. They keep abusing the north and they expect the north to accept it. You cannot keep on abusing people and expect them to buy into your idea,” Yawe said, adding: “They should go beyond abusing the north, calling northerners parasites and all those things. We are not parasites. We have contributed a lot to the development of

this country.” He said when people continue to call northerners parasites, they scare them away from the debate. “They should change their language so that whatever they are advancing, we should also Continued on page 41

TOP GAINERS NGN NGN % IKEJHOTEL 0.09 1.01 9.7 UPDC 0.05 0.92 5.7 TRANSCORP 0.03 0.61 5.1 CHAMS PLC 0.01 0.21 5.0 DANGSUGAR 0.50 12.90 4.0 TOP LOSERS NGN % CORNERSTONE 0.05 0.60 7.6 LIVESTOCK 0.04 0.56 6.6 UACN 0.45 6.50 6.4 TRANSEXPRESS 0.05 0.77 6.1 FCMB 0.09 2.10 4.1 HPE Nestle Nig Plc ₦1,175.00 Volume: 459.79 million shares Value: N4.304 billion Deals: 4,553 As at Friday 2/10/2020 See details on Page 37

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

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

COMMENT

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

IS STRATEGY THE NEXT PHASE OF BANKING? Yes, it is, argues Tony Monye

t is about the changing marketplace, stupid! In this â&#x20AC;&#x2DC;warzoneâ&#x20AC;&#x2122;, value reigns in full. It determines depth, breadth and other market-based phenomena. Players in this space are thoroughly focused on the exchange of value. It is the definitive anchor for business to consumer and business to business interactions. Without value, no one has any playerâ&#x20AC;&#x2122;s back. Be it idea, novel product, people and, practice, it must succinctly reward in value for the marketplace to relate. The marketplace elevates, sanctions and kills corporate organisations, as it entrenches/ enforces alignment to its ideals. For continued subsistence, corporations must listen to its prevailing voices, for they are not hooplas. Business organisations must suffer belief in the capacity of the marketplace to determine their providences. Anything short, they will suffer much. These days, marketplace calmness is rather short, somewhat uncharacteristic, driven by the rapidity of change. Turbulence, flux and disquiet, as longer lasting occurrences, more clearly define it. Corporations dare not buck the trend for many of yesterdayâ&#x20AC;&#x2122;s champion-corporations are todayâ&#x20AC;&#x2122;s laggard businesses. The clichĂŠ is quite banal and ubiquitous. Change does not suffer non-constant. Its doggedness kills winning formulas with time, exposes its enigmatic and worrisome posturing. Change acts as the femur-bone of the marketplace. Without it, the market takes a more stodgy shape. It is a marker between the enduring and nonentity organisations. As the marketplace morphs, so do great corporations. Non-discerning organisations regard change with disdain, most times, paying the dire fee. The Nigerian financial services environment travels mildly in the space of change benchmarked against its developed clime counterparts. Unnoticeably, its next evolutionary phase is about the door, rapping. Sadly, it is being ignored by many. Recall the era of the armchair bankers: laid-back, non-aggressive, poorly-suited professionals, who conducted the business of banking in old air-conditioned and dingy offices. Like ministry workers, they were insular to the changing needs of the marketplace. Clients called to engage in business dealings with them, appealed for their attention. Ask the very old banks! For three decades (this write-up assumes 1960 as base year), they ran the rules, poorly managed the stable. Given slipshod attitude, they sat back, waited for customers. Transactions were held up; their dynamics and speed were sloth-like. Fussing customers were at their mercy. Look up, at the sky. The once big, strong reliable bank has since been shaded behind a thick cloud. With the passage of time, most failed, except a negligible few, maybe, three. Any appearance of business enthusiasm was photoshopped. Data was discounted, pictured as time-wasting. The changing competitive landscape bore no signals. A transforming customer mindset alerted not. The need for a better understanding of the marketing concept went unheeded. And, when the tornado of change blew, tormented the marketplace, they were caught snoozing. Rather than take a step back to gird their loins, put up a serious fight, they jeered and mocked

THE MARKET EVOLVES. AT EVERY STAGE OF ITS EVOLUTIONARY PROCESS, CHANGING PHENOMENA SERVE ITS NEED FOR RENEWAL IN TERMS OF GROWTH FOR PARTICULAR ORGANISATIONS AND THE DEMISE OF OTHERS

the new kid-bankers on the block with a marketing-driven template. For the arm-chair bankers, it was the massive erroneous assumptions of too big to fail; too little and too inexperienced to impact. All attempts to get them to embrace the echoes of change as whistles for corporate rebirth and rethinking always ended abortively. The subsisting marketing-based banking began its entry into the financial services scene in 1990. The marketing-based bankers are highly genteel in appearance, confidence-oozing, sharp-suited, fearless foot soldiers, trying the untried. With a new template which promised greater focus on customer satisfaction, it was truly banking unusual. With customers growing savvier and a better understanding of competition, the new-breed bankers offered new service culture that delighted. Unlike arm-chair bankers, the marketing-driven apostles took business to clients. Their movements were generally tactical but short ranged, hinged on the immediacy of gains. Chiefly driven by market demand, product quality went up a notch. On the flipside, marketing-based banking, along the line, suffered shortness of breath. A largely reactionary approach, which hinted at undifferentiated plumage, it promoted the practice of strategic hiring, which led to poaching. The market evolves. At every stage of its evolutionary process, changing phenomena serve its need for renewal in terms of growth for particular organisations and the demise of others. Playersâ&#x20AC;&#x2122; actions in the eco-system motivate change. Yesterdayâ&#x20AC;&#x2122;s predominating platform varies with todayâ&#x20AC;&#x2122;s because change is sheathed in permanence. Ideas have lifespan; practices, like investments, have tenors. Armchair banking once predominated. For another three decades, marketing-driven banking preponderated. Signs have begun emerging that too is about going down for the count. Premised on the hiccups and inadequacies of marketingdriven banking, the new mode is strategy-based banking. Suffused in critical market-based analysis and opportunityseeking, strategy-based banking so easily presents the massive unseen marketplace breaks. While an enormous step-up on professionalism, customer satisfaction and outcome measures, its research-driven and foresighted bent can help outpace competition. It is the clear connector in the organisation, linking the hard and soft structures. Strategy-based banking supports proactive (rather than reactive), or orchestrated manoeuvres by practitioners for market edge. Given its deeper understanding that our ambition can be exposed by our concerns, it centres on the whole rather than the piecemeal approach of the marketingdriven bankers. In embracing analysis, it deftly evinces that when figures (data as the new crude oil) are whipped, the cries of opportunities are heard. It promotes the heart and mind capture for brand-building and optimality in outcomes. It is about the system rather the individual, aiding subterranean manoeuvres. It is strategy-based banking, stupid! r.POZF JT $POWFOFS 5IF -VOBS -FBEFSTIJQ 4PDJFUZ

NIPOST: ITâ&#x20AC;&#x2122;S TIME TO WAKE UP

Damola Adediji and Folakunmi Pinheiro argue that NIPOST has largely abused its dominant position in the courier services market

n a manner reminiscent of the pre-2019 years, the Nigerian Postal Service (NIPOST) on 24 July 2020 unilaterally announced an increment of license fees to be levied on courier service companies operating in Nigeria. The increment was met with outrage on social media as many Nigerians viewed this move by NIPOST as stifling businesses which were already struggling to survive during a global pandemic. As gleaned from the comments on social media, some dispatch companies already allegedly cancelled deliveries since the announcement of the increment. To make matters worse, in a rather dramatic twist, the Minister of Communications and Digital Economy, Dr. Isa Pantami, whose ministry superintends NIPOST, dissociated himself from the increment stating that it was not approved. He subsequently proceeded to direct that the implementation be stayed. Admittedly, this suspension of the increment as directed by Pantami might just be a temporary relief, but its eventual or ultimate implementation will raise some antitrust red flags, with telling effects on NIPOSTâ&#x20AC;&#x2122;s competitors and consumers. This piece therefore seeks to examine the antitrust implications of the conduct of NIPOST in a market where it operates as a regulator and a competitor. Prior to February 2019, the Nigerian business and commercial space was not governed by general antitrust or competition law. What existed were rules regulating certain industries and certain transactions like mergers, takeovers, and other forms of corporate restructuring. Thus, businesses were generally free to conduct their businesses, even when such conduct stifle competition. However, this changed in February 2019 with the passing of the Federal Competition and Consumer Protection Act, 2018 (FCCPA or the Act) to promote competition in Nigerian markets. The Act also established the Federal Competition and Consumer Protection Commission (FCCPC or the Commission) as the first antitrust body tasked with the statutory responsibility of promoting competition in the Nigerian markets. The Commission is vested with wide range of powers to uncover and sanction anti-competitive practices such as price fixing, unfair pricing, misleading or

deceptive representations, and, most importantly for our analysis, abuses of dominant position. It also reviews mergers and other business combinations which could impact competition. Unlike the scattered provisions on antitrust that existed pre-FCCPA, the Act has a significantly wider coverage. Most importantly, it covers all aspects of the economy and its provisions bind all businesses including, agencies of the federal government or body corporates or agencies of subdivisions of the federation engaging in commercial activities. In that regard, NIPOST comes within the statutory contemplation of the FCCPA. On the basis that it is a 100% federal government owned body, engaged in commercial activities. Therefore, its conducts are now subject to antitrust scrutiny and appropriate sanctions can be imposed on it, if found liable. Moreover, not only is NIPOST engaged in commercial activities, it is also a dominant player (within the meaning of Section 70 of the Act) in the courier services market. This dominance is established by virtue of NIPOST being an operator in the market on the one hand, while having the power to influence an increase in the license fees payable by its competitors in that space. In essence, it plays the role of regulator and operator, which is a classic case of a government-owned entity abusing its dominant position. As such, it may (if it so wishes and as it appears to have attempted) distort competition in the market through amending the regulatory landscape to pursue its own economic objectives â&#x20AC;&#x201C; most importantly, it may do so without regard to the effect on its customers, consumers, and competitors. Not so quick. It is important to note that it is not an antitrust sin to be in a dominant position. What the law frowns at is when a dominant position is abused, which is prohibited under Section 72(1) of the Act. For instance, being able to act independently of, and without regard to, the stakeholders in a market, as well as, being able to prevent effective competition from being maintained in a relevant market, will typically be considered as an abuse of dominant position. The Act actually provides examples: excessive pricing, refusing to grant access to essential facilities,

engaging in exclusionary conduct, predatory pricing, etc. Around the world, state-owned postal services have been caught for abusing their dominant positions, thereby infringing competition rules. For instance, in Germany, Deutsche Post was found to have behaved anti-competitively by using revenues from a market where it held a monopoly (letter-mail) to subsidise its predatory pricing strategy in a market open to competition (business parcel services). Similarly, in the United Kingdom â&#x20AC;&#x201C; and perhaps more relevant to NIPOST â&#x20AC;&#x201C; the Royal Mail was recently fined ÂŁ50 Million by the Office of Communications (Ofcom) for abusing its dominant position by increasing the prices in its wholesale consumersâ&#x20AC;&#x2122; contracts to prevent competition.[1] Returning home, we must ask ourselves where the licensing fees introduced by NIPOST would constitute an abuse of its dominant position. In our view, the increased fees could be considered as an exclusionary act (under Section 72(2)(c) of the Act) which could eliminate actual or potential competition in the courier services market. This is because the prices are seen as too high for many courier service companies to afford. If such companies are unable to pay the license fees, they would exit the market which would soften competition between the remaining players, including NIPOST. As such, we take the view that a credible case can be made that, through the increment, NIPOST has indeed abused its dominant position in the courier services market. Again, not so quick â&#x20AC;&#x201C; there is scope for redemption. Notwithstanding the foregoing conclusion, it is possible for an abuse to be justified under Section 72(3) of the Act, where: (a) it improves the production or distribution of goods or services or it promotes technological or economic progress, while allowing consumers to receive a fair share of the benefit; (b) it is indispensable towards achieving (a); and (c) it does not allow for the possibility of eliminating competition. In that regard, we must ask: (i) if the increment contributes to the improvement of production or distribution of goods or services or promotes technological or economic progress; and (ii) allows consumers to receive a fair share of

the resulting benefit. To this end, it is interesting to examine the claim made by Dr. Pantami that the new license fees are intended to weed out â&#x20AC;&#x2DC;bad eggsâ&#x20AC;&#x2122; in the courier service space by raising the barriers to entry which would ultimately protect consumers and improve the overall efficiency of the market. On a plain reading, the justification falls within the purview of being justified by Section 72(3) of the Act. However, whether consumers will receive a fair share of the resulting benefit is questionable. In the event that players are forced to exit the market, it is not entirely clear that consumers would benefit from the reduced choice, (as an aside, the mere possibility that players may be forced to exit the market forecloses the abuse from being justified under Section 72(3)(c), as noted above). But the argument could still be made that reduced choice is advantageous for consumers, provided that the overall quality of the remaining options is improved. While this may seem to be a valid point, it does not address the crucial point that consumers are likely to bear the brunt and carry the cost of the increased licensing fees. Players on the market are unlikely to absorb the costs and will instead pass on some (if not most) of the costs to consumers. From that perspective, it is difficult to see how consumers will receive a fair share of the resulting benefit â&#x20AC;&#x201C; not only could they face reduced choice, they could also be subjected to increased prices. In the alternative, one could argue that the license fees are not indispensable towards achieving the legitimate aim of weeding out the bad eggs; as would be required by Section 72(3)(b). It is entirely possible that other less anti-competitive means could have been employed towards achieving the same goal â&#x20AC;&#x201C; for instance, enforcing minimum operating standards and imposing fines for non-compliance. Therefore, we take the considered view that the increment is an unjustified abuse of NIPOSTâ&#x20AC;&#x2122;s dominant position, which would prevent effective competition in the courier services market. r"EFEJKJ BOE 1JOIFJSP BSF CPUI BVUIPST BSF "TTPDJBUFT BU 0MBOJXVO "KBZJ -1

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

EDITORIAL

ON COMMUNITY DEVELOPMENT ASSOCIATIONS Community associations should respect the rights of their members

he judgment of a federal high court sitting in Lagos which declared that members of a community development association cannot be forced to pay dues has continued to elicit debates. While it is difficult to fault the reasoning that informed the verdict, it nonetheless has far reaching implications for community development in a society where government has failed to live up to its obligations. A company, Megawatts Nigeria Ltd had challenged the Registered Trustees of Gbagada Phase II Residentsâ&#x20AC;&#x2122; Association that membership of the association and payment of dues thereto was not compulsory, especially since it provides for its own security, waste management and other services. Meanwhile, the residentsâ&#x20AC;&#x2122; association argued that being resident within the estate, the company ALL TIERS OF GOVERNMENT was bound to SHOULD WAKE UP TO THEIR pay demanded dues and levies. RESPONSIBILITIES. THEY In its judgment, CANNOT CONTINUE TO CEDE Justice IniekTHEIR OBLIGATIONS TO enimi Nicholas COMMUNITY DEVELOPMENT Oweibo upheld the argument of ASSOCIATIONS Megawatts that no individual or corporate body can be forced to be a member of an association or be denied their right of movement under any circumstance. Against the background that there are communities in Lagos where residents cannot drive out until they have paid their security dues, this judgement comes as a bold relief to many. The constitution guarantees freedom of movement. Notwithstanding the foregoing, these development associations are more or less indispensable. They generate their own utilities through these associations as well as provide social amenities. They construct roads and drainages. Perhaps more significantly, they are able to ward off criminals through personal arrangement. They hire armed-bearing guards to watch over them

Letters to the Editor

T H I S DAY EDITOR

DEPUTY EDITOR Ë&#x153; Ë&#x153; MANAGING DIRECTOR DEPUTY MANAGING DIRECTOR CHAIRMAN EDITORIAL BOARD

EDITOR NATIONâ&#x20AC;&#x2122;S CAPITAL MANAGING EDITOR

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN GROUP EXECUTIVE DIRECTORS Ë&#x153; Ë&#x153;

Ë&#x153; Ë&#x153;

DIVISIONAL DIRECTORS Ë&#x153; Ë&#x153; DEPUTY DIVISIONAL DIRECTOR

SNR. ASSOCIATE DIRECTOR ASSOCIATE DIRECTORS Ë&#x153; CONTROLLERS Ë&#x153; Ë&#x153;

DIRECTOR, PRINTING PRODUCTION HEAD, COMPUTER DEPARTMENT Ě&#x201C; TO SEND EMAIL: ďŹ rst name.surname@thisdaylive.com

day and night. All these are done through communal efforts. So, invariably these community associations have become the only government these communities of Nigerians can relate to. With the federal high court judgement, things may change. If members cannot be compelled to pay their dues, the community would not be able to provide these amenities. In that circumstance, everybody is worse off. Yet constitutionally, the judgment of the high court cannot be faulted. Section 40 of the 1999 Constitution of the Federal Republic of Nigeria (as Amended) states that: â&#x20AC;&#x153;Every person shall be entitled to assemble freely and associate with other persons, and in particular he may form or belong to any political party, trade union or any other association for the protection of his interest ....â&#x20AC;&#x2122;â&#x20AC;&#x2122; So what is the way out this conundrum with regard to the judgment? One, those whose responsibility it is to run these development associations should begin to inculcate transparency and accountability so as to build and retain the confidence of members living in their communities. Two, they should also respect the rights of their members. By doing so, residents will see and appreciate the benefits derivable from membership of these associations and why they should also pay their dues without being coerced. We concede that the foregoing may still not be enough to bring everybody on board. Even if the law makes payment of dues compulsory for members of these development associations, some will still renege. That is the uniqueness of human beings. That is also the wisdom behind fundamental human rights. On whether they should not be allowed to enjoy the facilities put in place by other members of the community, the law should be the guide. It is complicated. But the import of the judgement is that nobody has the right to take the law into their own hands. At the end, the ultimate lesson is that all tiers of government should wake up to their responsibilities. They cannot continue to cede their obligations to community development associations.

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

THE LABOUR OF OUR HEROES IN VAIN?

the sense of fierce patriotism to my country, Nigeria, was first instilled in me at an early stage in life. I could remember how I sang the national anthem with high cadence, vigour and vivacity. I also grew up reading about Nigerian history, and how we came about our sovereignty as a nation was what most piqued my interest. I was an avid reader of current affairs and later moved on to the national dailies to keep myself abreast of national and sub-national happenings. I was curious about discovering new stories about my country. It was through all these that I developed a state of mind â&#x20AC;&#x201D; a reflection of the true sense of our self-worth as a nation and upholding of our values and respect for our roots. I ascertained that the route through which Nigeria traversed to the highway of independence was unity â&#x20AC;&#x201D; not only people, but also in action and purpose. This can even be safely said to be our core founding principle. And this can be first traced as far back as 1914, during the colonial rule, when the then GovernorGeneral, Frederick Lord Lugard, amalgam-

ated the Northern and Southern protectorates. This, thereafter, made Nigeria rise to independence on the shoulders of her selfless heroes and dogged nationalists who rested on the grounds of unity. Though different in ethnicity, partisanship and ideological inclinations, they were all strongly committed to the noble cause and fought the patriotic struggle of our national autonomy to the core. De facto, they indeed forged a united front, braved all odds and triumphed. All these culminated to gain us our independence from about 100 years of the British colonial rule on October 1, 1960. As Nigeria clocks 60 years in her journey of nationhood, the big question that still begs in the crying face of our present circumstances is whether or not the labour of our heroes has truly been in vain? Has the price they paid to gain the prize, Nigeria, really worth the while in the end? The answer is certainly not far-fetched. Understandably, one may want to say that the prevailing social, economic and political woes pervading our national landscape lend a prima facie credence

to the vanity of those labours and that Nigeria is a failed state. But while this sequitur seems to be reasonable, the point of fact is that it is a slightly different kettle of fish. It is as a result of the good governance and true leadership that have long deserted our corridors of power. Now, letâ&#x20AC;&#x2122;s face it and see beyond the blurry view of the general present state of our dear country. The fact that we have still maintained togetherness in our cultural diversity over the years is a true testament that the laborious efforts of our founding fathers have not gone down the drain at all. We have so far remained as one indivisible, complete entity with a strong nationalistic sense. Even with several attempts like the Civil War, ethno-religious conflicts and agitations for secession that have threatened our unity as a country over the years, we have risen through all these teething challenges to remain strong and united together as ever. Through it all, with our spirit of togetherness, resilience and nationalism across our divides, we have scaled through and stayed true to our long-cherished principle that our unity is indeed non-

negotiable. And even though we still have a long way to go in our journey of socio-economic development, the fact that we have impressively integrated culturally and socially into a whole integer shines forth a beacon of hope for our beloved and promising nation. There is deep love and strong power in togetherness. And I believe when we eventually get things right and become prosperous, we will only look back and see how the labour of our nationalists set us on the right-of-way we treaded and built on. The Nigerian dream is still valid. Letâ&#x20AC;&#x2122;s reignite our collective hope in its emergence and be resilient enough to further strengthen our commitment to the Nigerian project. Like our national anthem resounds with deep respect and silent drum beats, the labour of our heroes past shall never be in vain. Never! May it become a gain for us, and never a pain and in vain. And may we continue to strengthen the uniting cords and spirit of togetherness in our nationâ&#x20AC;&#x2122;s citizenry. r"HCBKF "ZPNJEF JT UIF DP GPVOEFS PG 6QTLJMM 8SJUJOH

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

T H I S D AY ˾ MONDAY OCTOBER 5, 2020

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

M O N D AY D I S C O U R S E Is Zulum the Most Endangered Nigerian Governor? Michael Olugbode writes that Governor Babagana Zulum of Borno has become a frequent target to Boko Haram insurgents

Buhari

Zulum

Buratai

Fayemi

He said: “There is one very important question that we need to ask, why is the insurgency not ending? There’s sabotage in the system and there’s a need for the President to examine the current situation with a view to resolving it. “We have a huge population and people do not have access to their agricultural lands, and poverty is one of the causes of insurgency; why are you not allowing people to go back to their ancestral lands so that they will go and earn their living?” He asked that, “A situation where our Nigerian military are farming the lands, denying access to the common man to farm; what justification do they have for not allowing our people to go back to their ancestral homes?” The Chairman of the APC Northern Governors Forum, Atiku Bagudu to whom the governor laid the complaints, had said that the entire governors are with him and were ready to support him in the onerous task of seeing the back of insurgency. The Shehu of Borno, Alhaji Garbai Elkanemi after the first Baga attack had also decried that the people of Borno State live in fear as the state is no longer safe. The Shehu called for something urgently to be done to secure the lives and property of the people and bring back reassurance of their safety. He told the governor during a courtesy visit, “Your Excellency, we are not happy about what happened in Baga the other time, it is very unfortunate and great pity. If the convoy of the whole Chief Security Officer of the state will be attacked, then nobody is safe, because he is the Number One citizen of the state, he is the Chief Security Officer of the state. “If a convoy of such highly placed person in the state is attacked, nobody is safe. The matter is getting worse, I urge everyone to raise up our hands to seek Allah’s intervention.”

The Nigerian military did not take the allegations lightly and mmediately instituted a probe into the attack. Few days later, it came out out with a vitriolic statement, describing the allegation of military involvement in commercial and economic activities in Baga as baseless and unfounded. The Deputy Theatre Commander of the military counter-insurgency operation in the North East (Operation Lafiya Dole), Major General Felix Omoigui, who led an investigation team set up by the military to probe the allegation, said, “The allegation was conjured by overzealous personnel of security agencies who for personal glory and without recourse to tenets of agency cooperation, decided to propagate the story.” He lamented that, “His Excellency, the Governor of Borno State believed this allegation leveled against troops in Baga given his recent utterances,” and regretted that, “Remarks of highly placed personalities is capable of demoralising the troops which negatively undermines the confidence of the locals in the military. He said, “His Excellency, the Governor of Borno State, has been in constant touch with the Theatre Commander and Sector 3 Commander, he could have reported the allegation for investigation. Allegation of this nature could have been avoided if the military authority was contacted on issues concerning troops activities before going public.” Omoigui said, “The realisation that the allegation emanated from personnel of security agencies could trigger reaction and animosity on troops. The investigative team recommended that the security agencies should ensure to educate their personnel to verify a piece of information before disseminating same. “His Excellency, the Governor of Borno State should be respectably informed that the allegation was false. The Governor should be

informed of the need to contact the military headquarters for issue of this nature. Troops should be sanitised to be professional in line of duty.” He said the investigation revealed that there was no commercial activities in Baga with the streets totally deserted and the only people in the town were military personnel and members of the Civilian JTF. He said: “There is no civilian presently in Baga. The town is occupied by soldiers and members of the Civilian Joint Taskforce who are still undertaking operations and providing security in the area. “The entire Baga is heavily mined with improvised explosive devices (IEDs) which has not allowed for any farming activities.” On who fired the gunshots at the governor’s convoy, Omoigui said, “The investigation on who shot during the governor’s trip is still ongoing and the report will come out in due time.” It must be reported that that findings is yet to be brought to the public space till date. The most lethal attack on the governor’s convoy till date took place on September 25, but it must be stated here that the governor was not in the convoy as he went into Baga with a military helicopter. The ambushed convoy was largely populated by military and security men to provide security cover for those in the governor’s entourage on the trip to Baga. It is believed that about 30 persons were killed, mostly policemen. No one has however revealed the casualties from the side of the assailants. A source revealed that, “The terrorists made away with an armoured personnel carrier, a gun truck and six sports utility vehicles in the convoy.” Two days after the terrorists struck again in September 27. After tasting blood, the terrorist wanted more. They were emboldened to come after the convoy two days later, but this time governor was with them and no casualty was recorded. The convoy was shot at 10.30am about two kilometers from Baga, where the governor had relocated 521 Internally Displaced Persons (IDPs). A source said, “The windscreen of some vehicles in the convoy were scattered, some vehicles had their tyres bust by gunshots, including the Government House Press Crew. “The military gun truck was also shot at and a soldier had his shoulder scalded with gunshot.”

orno State Governor, Prof. Babagana Zulum was first attacked by Boko Haram on September 5, 2019,about four months after he assumed office, somewhere in Konduga while returning from a tour of Askira/Uba, Gwoza and Bama Local Government Area. His convoy ran into an ambush between Bama and Konduga. A military source on the attack said, “In fact we were only lucky that the governor, his commissioners and other vehicles in the convoy passed the black spot before the Boko Haram started opening fire on us (convoy) . This made others to escape the attack unhurt but the last vehicle which is an army gun truck was pelted with bullets. “immediately they opened fire on us, our men in collaboration with the armed personnel from the Federal Special Anti Robbery Squad that were behind in the convoy responded and were able to silence the enemies (Boko Haram). “The whole thing looked like a kind of set up or ambush targeted at the security operatives in the convoy.” No casualty was recorded June 29, 2020 The governor’s convoy engaged suspected Boko Haram insurgents in Baga after they were shot at. The governor was in Baga for an assessment of a planned relocation of internally displaced persons. He was said to have received the all clear from the military before going into the town that was not inhabited then. Recounting the ordeal, a source said, “Glory be to God, the Governor’s convoy intercepted gunmen along Baga. Fortunately the convoy cleared them with two vigilantes and a policeman wounded in the crossfire.” No casualty was recorded. This attack, though without casualty, was perhaps the one greeted with the most backlash. The governor had alleged sabotage and pointed accusing fingers at the military. Concerning the attack, the governor said, “Let me also re-echo my previous position with respect to the level of insurgency in Borno State, I earlier said that the gravity of the insurgency cannot be compared with what has happened between 2011 to 2015, and 2015 to date. Yes, it’s true. The President has done well, but there’s sabotage in the system that will not allow insurgency to end; the President has to know this very important point. When he came to Maiduguri two months ago, I said so because between 2011 to 2015, at a time, almost about 22 LGAs were under the insurgents. “Out of the four main roads that leads to Maiduguri. only one was functional.” Zulum called on the President to examine the security situation in the region critically, to ensure the effort of his administration is no longer undermined. He alleged that the military has taken over the farmlands of residents, insisting there was no justification for this, stressing that the residents displaced by insurgency should not have been prevented from returning to their ancestral homes.

The Nigeria Governors’ Forum (NGF) led by Ekiti State Governor, Dr. Kayode Fayemi said the Borno situation has the potential to consume Nigeria. Fayemi who led other governors including Aminu Waziri Tambuwal of Sokoto State who is Vice Chairman of the NGF, Atiku Bagudu of Kebbi who chairs APC’s Progressive Governors Forum, and Simon Lalong of Plateau State who chairs the Northern Governors Forum to Maiduguri last week to pay sympathy visit and donate a cash of N100 million to the people of Borno State

Buhari’s reaction to the latest attack The president described the attack, on Maiduguri-Baga route, as an orchestrated sabotage against long planned return of displaced persons to their local communities. The president’s statement signed by his spokesman, Garba Shehu, is reproduced below: “President Buhari notes, with deep sympathy, the loss of lives of security men on the convoy,

T H I S D AY ˾ MONDAY OCTOBER 5, 2020

MONDAY DISCOURSE

Shettima

ahead of the return of Internally Displaced Persons, IDPs, commiserating with their families and loved ones. “The President advises the government of Borno State, working with security and intelligence agencies, to remain firm in their determination to restore normalcy to all communities liberated from Boko Haram terrorists. President Buhari urges security and intelligence agencies to intensify efforts to check sabotage, sanitize the roads, venues and locations well in advance of returning IDPs, while working closely with local communities. “The President commends the gallantry of service personnel who repelled the deadly ambush, as well the sincere determination of Governor Zulum, who has been working with armed forces to end the menace of terrorists, rebuild homes and return IDPs to regular life. “He prayed that God will grant the souls of the departed security men and operatives of Civilian-JTF eternal rest, and comfort their families.” The Nigeria Governors’ Forum (NGF) led by Ekiti State Governor, Dr. Kayode Fayemi said the Borno situation has the potential to consume Nigeria. Fayemi who led other governors including Aminu Waziri Tambuwal of Sokoto State who is Vice Chairman of the NGF, Atiku Bagudu of Kebbi who chairs APC’s Progressive Governors Forum, and Simon Lalong of Plateau State who chairs the Northern Governors Forum to Maiduguri last week to pay sympathy visit and donate a cash of N100 million to the people of Borno State, said, “As your brothers, we shall not relent in also expressing to the authorities, the importance of nipping this in the bud so that calm and peace return to Borno and this can serve as a vehicle for peace and development in the rest of our country. That is what has brought us. It is to let you know that you are not alone, it is to commiserate with the families of the people who have unfortunately lost their lives in the line of duty. And it is to render our support, our country needs to do more.” The NGF Chairman said the four governors were in Borno State on behalf of all governors in the country. “Your Excellency , we your brothers are here on behalf of all of us, 35 governors of the Nigerian state. This delegation was carefully put together inspite of your own reluctance to let us come. We have been on this for two days, you said no, we should not come all the way here to commiserate. But we felt we were duty bound to be here in solidarity and in commiseration, and to let you know that you are not alone on this committed struggle to end the insurgency in Borno State, and to stop the carnage that is daily afflicting our people here,” Fayemi said. The NGF Chairman said all governors consider the insecurity in Borno as a collective problem which should be addressed with renewed vigour and commitment, noting that that at different times when some governors spoke to Zulum about his safety and concern about his movements in tough terrains, he replied, “what about my people in Borno State, what happens to them under Borno’s war situation.” He said, “This is not the first time you (Zulum) have been attacked, but you always said to me and to a lot of our colleagues that it is God that will protect. Even when we say to you, Prof, you have to be careful, you have to be vigilant, you have to protect yourself, you always reply by saying, what about the people? It is my duty, the primary responsibility I have as governor is the security and welfare of our people and that is what you have been discharging.” The Ekiti Governor also said that Zulum has

Sheriﬀ

been quite frank in high level engagements including meetings with President Muhammadu Buhari over the problems facing Borno state. Fayemi said, “Not long ago, you (Zulum) and I (Fayemi) had a meeting with Mr. President on these issues. You were very frank with Mr President about what is going on here, the difficulty that the military is experiencing, and the challenges that our people have in returning back to their communities. Your determination to ensure that the local population is returned so that they can go back to their farmlands, so that they can return to their normal lives. In spite of all your efforts, inspite of the work you continue to do, it is obvious that we still have a lot to do as a country. The Yobe State Governor, Alhaji Mai Mala Buni who had earlier paid a solidarity to Zulum expressed optimism that Boko Haram terrorism will soon be history, insisting that the insurgents could not take away the goodwill of leaders and their people. He said, “One thing insurgents cannot succeed in doing is taking away the good will from you and the people of Borno, including other Nigerians,” Buni noted. Message from Borno federal lawmakers Speaking on behalf of the lawmakers, Shettima who was the immediate past governor of the state but now a senator representing Borno Central, said: “Your Excellency, we are here along with our distinguished Senator and other members of our caucus in the National Assembly to sympathise with you, and to commiserate with you over the sad incident that happened a couple of days ago. “I had a chat with you last night, you actually made effort to dissuade us from coming. But we felt we are morally obliged to come and sympathise with you, to pray for the repose of the souls of the departed and also pray to Allah (SWT) to give you the strength to lead our state in this trying moment. “Our coming is purely a sympathy cum solidarity visit, we are not here to make loud pronouncement or long speeches. You are our leader, a mishap happened on the road and when you are coming back as well, so we felt morally compelled, and it is morally imperative to come and sympathise with you. “May Allah continue to envelope you with his mercy and protection, as well as members of your team.” He added that: “And for those our gallant officers and men of the Nigerian armed forces, our Civilian JTF who paid the supreme price, may their souls rest in perfect peace.” Former Vice President, Atiku Abubakar condemned the attack on the ”governor’s convoy”, urging the Buhari government to reset its approach to the insurgency war. He said, “The attack on Gov. Babagana Zulum

Buni

in which over a dozen security operatives were killed between Monguno and Baga should be a source of concern not only because it is the second time such an attack is taking place in recent times, but because the Borno governor is not a soft target. “This attack is yet another reminder that we need to adopt new strategies to deal with the menace of insurgency decisively. I convey my condolences to the families of the deceased. I solidarise with the government and people of Borno that Gov Zulum did not come to any harm.” The Arewa Consultative Forum, in its reaction condemned the attack on Governor Zulum, saying the terrorists were targeting Zulum because he was raising hope in a demoralised country. The group said, “If anything untoward happens to him, the consequences for the rest of the country will be grave.” Zulum’s Spirit un-dampened Zulum who appreciated the empathy demonstrated towards the people of Borno from all over, said Borno was facing serious humanitarian issues which was of great concern to him, noting that the solution lies with supporting dignified return of willing IDPs to safe and rebuilt communities where they can return to making livelihoods. He noted that continuous dependance on food aid from donors, was no longer sustainable given huge population of those in need. Even with the attack on the convoy, the governor has shown readiness to continue to go ahead with the relocation plan of the IDPs. Why Baga? The crisis of Boko Haram has gone too far. For over one decade, Borno State has been left in a state of war and there is need for urgent attention. This is one of the wake up calls that have geared Borno Governor into action. One of the foremost economic towns in Borno is Baga, which is a fishing community and borders Chad Republic. The economic value of Baga is immense and Boko Haram is believed to have an active camp around the Lake Chad axis. The insurgents see their continued dominance in the area as a symbol of strength. Borno is looking for a way of relocating the numerous IDPs back to their homelands and equally increasing the internally generated revenue and revamping its economy, while reducing dependence on foreign aids. The Chairman of Borno State Internal Revenue Service, Alhaji Ali Manga Bulama who disclosed that the state’s IGR grew by 23.5 percent from N6.5 billion in 2018 to N8.2 billion in 2019. Bulama, who noted that most of the revenue were generated from the state capital Maiduguri, and to some extent in six additional local

Zulum called on the President to examine the security situation in the region critically, to ensure the effort of his administration is no longer undermined. He alleged that the military has taken over the farmlands of residents, insisting there was no justification for this, stressing that the residents displaced by insurgency should not have been prevented from returning to their ancestral homes

government areas of Jere, Bayo, Shani, Kwaya Kusar, Hawul and Biu. He lamented that, “Trans-border trade between Nigeria and its neighbouring countries of Niger, Chad and Cameroon have been grounded due to the insurgency.” He explained that Borno is the only state that shares borders with three countries, and this trans-border trade that was of importance to the economy of the state and the country could presently not be tapped because of the insurgency around the borders of the Northeast. He noted that Borno State was serious about getting it’s economy back. The battle for Baga is not only about egos, but also economic. Is attack on Zulum, an isolated one? The fact is there for all to see that there is no highway within the Borno territory that is safe to traverse. Many people have been killed on these highways or are cooling off in bushes having been kidnapped by Boko Haram. The situation is so bad that the United Nations agencies do not allow their workers to go by road into Maiduguri. For any staff to travel in and out of Maiduguri, it has to be by flight. The insurgents are always on the prowl on Borno highways. The former governor of the state, Ali Sheriff escaped death by a whisker on MaiduguriDamaturu Road earlier this year when he traveled from Abuja into Maiduguri to bury his father, some of those in his convoy were not so lucky as they were killed few kilometers into Maiduguri. The Chief of Army Staff, Lt. Gen. Tukur Buratai even with the full retinue of soldiers and gun trucks has been harassed by the Boko Haram insurgents on Borno highways. One of the Theatre Commanders of the Operation Lafiya Dole only escaped death by the skin of his teeth, when he was confronted by Boko Haram. Boko Haram insurgents even targeted the convoy of Senator Kashim Shettima, on his way to Gamboru Ngala, during his last days in office as governorofBorno State. The attack on Zulum cannot be said to be an isolated one and perhaps he was not singled out to be killed, but it is more believable that he has been walking into Boko Haram firing line because of his frequent road trips. If the attack is believed to be from Boko Haram then it may not be premeditated but an action that posits that the insurgents are still very much around and perhaps because of the size of the fish trade in Baga, it may have promoted a narrative suggesting that Boko Haram insurgents are bigger and stronger than imagined. Could the attacks have been a distraction No matter how Zulum and his supporters may want to play down on the effect of the attacks, one thing is certain, it has been a distraction. During the first attack in Baga, the governor had to turn back and was not able to perform all the roles he had set out to achieve. Though he was later to kick start his resettlement plan, but with the current attacks, it will definitely demand more convincing for the people to be resettled in Baga and other parts of the state yet to be resettled. It will even take a lion’s heart to traverse parts of the state. The attacks have come to show that it takes more than a strong will to get people resettled. There is need for a dedicated and sustained plan. It seems the war is far from over and until this war is over, relocating or resettling the IDPs may be like using them as a cannon fodder.

T H I S D AY ˾ MONDAY OCTOBER 5, 2020

INTERVIEW

‘Oshiomhole’s Sack as APC Chair Came Too Late’ Emmanuel Addeh holds a conversation with Senator Rochas Okorocha on his politics and philanthropy

Okorocha

t 58, you are still heavily involved in philanthropy. What’s the motivation for this? I will simply say that being a philanthropist or being a charitable person or someone who cares for the poor, is something much more spiritual than physical. I think it is something that is innate with one’s spirit. I love giving, I hate injustice and I hate poverty and I try to fight these two evils of mankind. Again given the fact that my background is not that of buoyancy, I came from the same class of people you consider very poor and so because of that I took it upon myself. It is like a spiritual oath that anytime I am blessed by God, I will bless others, giving back to my world and making the society a better place. Like I said, I hate poverty, I hate injustice. Poverty once dealt with me and members of my family. So, I am easily connected to understand the pains of poverty when it comes. I think this summarises my charitable life, my life of giving. We have over 22,000 children now on our records that have gone through Rochas Foundation, some still inside the school and every year we take about 2,000 children into our schools. Right now, we see young men with three stars in the police, in the army, air force, customs, immigrations, civil service, banks. These are children who would have ordinarily not have the hope of going to school but now becoming something. You grew up in the north . Do you see any close connection between the north and east where you were born? At a point people thought my father was a northerner and my mother a southerner, all kinds of stories, I have heard all that. My identity is easily mistaken, most people don’t even understand me or know me. But the truth is that the same story of poverty, the same story of the challenges of life took my parents to Jos. So, going to Jos wasn’t a fun thing, it was out of desperate situation for survival, many years ago. That was in the 40s or 50s, I think, and that was where we were brought up, all of us in the northern part of Nigeria. So, that is the reason I can communicate in Hausa effectively and all that. I think on the other hand, it must be the handwork of God. My growing up in the north made me understand that the unity of Nigeria is key. We have no other option than to make this nation a united, indissoluble nation. I see myself as a northerner, I see myself as a southerner, I see myself as a Nigerian and that is why when people argue, I tell them that Nigeria is my constituency. Both my parents were Igbo, so it is not true that my parents are not Igbo, I can trace it back to where I come from but it was the north that gave me education, they gave me my childhood, they gave me my livelihood, all that I have. But where I got my financial empowerment that made me Rochas was from the West. So, all my best business connections was with the West. You see, now the Hausa gave me my childhood, Igbo gave me my parentage and the West empowered me financially. So, tell me where do I really belong? I have to belong to Nigeria

Buhari and that is the truth. In the north the issue of almajiri and out of school children remains a major sore point. What can be done to solve this problem? I must say that first and foremost, I am not happy, it disturbs me that in this our time and generation that we will be talking of about over 14 million children out of school in a country called Nigeria. I think that is not good news at all and if there is any one problem I have, one challenge I have, it is this particular issue and it has given me sleepless nights. Talking about this 14 million children not going to school, people forget that some countries in Europe are just 2million people, while some are even less than two million, so we are talking about over 7 countries not going to school and we can’t fold out hands and watch this happen. I always tell Nigerians that Nigeria cannot get better until these issues are resolved because these are time bombs for tomorrow. We are talking about ending Boko Haram, ending kidnapping and yet children are not going to school, we are rather creating more problems for the future generation than solving it. For instance, if these 14 million children do not go to school and have nothing to do, in the next 10 years, when most of us in government will not be in government anymore, those 14 million will be giving us 10 million Boko Haram insurgents and 10 million kidnappers. What that then means is that we need about 100 million police to check these 10 million people. So you can see that we are creating more problems for our future generation rather than solving it. When the governors spoke that they should be returned back to their various states, I was against it because it is not right and it is not proper because these are Nigerian children and they should not be made to go back to villages where the situation is also hopeless. But what I suggested was that, these children where you have the Quranic schools, we can also put side by side a school there for them, so that they can at least learn how to speak and write English, it will help the society.

Oshiomhole marginalisation. Is the southeast ripe for the presidency in 2023? I really don’t understand whether people run for presidency of the Federal Republic of Nigeria because of where they come from or because of what they can do for the nation. I think these are two different things. Sometimes, it looks like when you talk about presidency, the only qualification is where you come from, the religion that you belong to and not what you can give to the people. This is where I differ. If I am running for president, I am running for president because of what I can do for my people and not necessarily where I come from and this is the mistake we have made in this country in choosing leaders at all levels, these sentiments have all been there. First and foremost we must begin to allow leaders that have track records and their vision for the people to come and lead the people and not necessarily where you come from. In a competitive life, the only credit I give to the quest for Nigerian president of Igbo extraction, for me, it would be more of a competition thing. If you like, you say listen, the Yoruba have governed this nation and we saw how the economy did. The South-south has ruled the nation and we’ve all seen how the economy did. The north has governed this nation and we have seen the economy, let’s try Igbos now and see how the economy will look like. I think that is the angle we should be looking at it like a football match. In essence, would you support Igbo presidency in 2023? I have just said it. A Nigerian president of Igbo extraction is what we are talking about and I have just said that if other places have done, let’s see when the Igbo come in what they can do for the nation. In Nigeria today, you have some ethnic groups in the north who prefer that power should come from the south because they believe that anytime a southerner is in power they enjoy government the best. You also have southerners who believe that a northerner should be in power, because when they are in power they enjoy the best. Who is deceiving who?

The Igbo have always complained of

What has happened is that people have taken advantage of the nature of the person of President Buhari, who most of the time chose to keep quiet and trust people without asking questions. People have betrayed the trust he has reposed in them in governance and have taken advantage of it to mess up a lot of things in this nation. So, President Buhari’s kind of trust in his lieutenants is a major issue and that is what has ruined our party

Will you contest in 2023? Having contested in 2003, 2007, 2015 and you are asking me at this time if I will contest, that is very interesting. My contest for presidency and what has kept me wanting to run for president is not just because I want to be president and if I am going to be a president of failure, who won’t succeed, I don’t want to be a president and I pray God I don’t want to be. But if my presidency will unite this country, then I want to be president. If my presidency will address the issue of poverty and insecurity, I would want to be president. If my presidency will address the economy of this nation and we will begin to talk like other developed nations, then I want to be president. If my presidency will guarantee free education to the poorest of the poor, I want to be a president. Other than this, hold your president and your presidency, I am fine. Your party, the APC, seems to be on life support. Is there hope as elections build up towards 2023? You see, when injustice comes into a matter, the centre can no longer hold, that is the problem of the party. I forewarned about what is happening today in our party. It means we don’t have APC in the whole South south, that is a bad sign and signal. And in the Southeast, literally, we can say we don’t have APC, we just managed through the “Ben Johnson” way to get one seat and that does not make our image good. The same clean party under the leadership of President Buhari that we consider a clean man, honest man, a patriotic man and these things are happening, then it is unfortunate. But the truth is what I have been talking about has come to play. I will not congratulate the PDP, I will congratulate Edo people for standing up against injustice because the people that were voting for Obaseki are not only PDP, even APC voted for him. They want to stand up against injustice. Edo people are not docile. They know what they want and how they want to get it. So, I would want to congratulate Edo people rather than congratulate any party because it was a mere dramatisation of the fight against injustice in that state. But when I saw Adams Oshiomhole with Governor Hope Uzodinma, then I knew that Gulak will also be there because when these three people are leading the campaign, then it had to be a Ben Johnson way or there will be no victory. And so we must begin to learn. I think what has happened is that people have taken advantage of the nature of the person of President Buhari, who most of the time chose to keep quiet and trust people without asking questions. People have betrayed the trust he has reposed in them in governance and have taken advantage of it to mess up a lot of things in this nation. So, President Buhari’s kind of trust in his lieutenants is a major issue and that is what has ruined our party. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925 2020 INDEPENDENCE EDITION

A Global Commemoration of Nigeriaâ&#x20AC;&#x2122;s Diamond Anniversary Chiemelie Ezeobi, Rebecca Ejifoma, Ayodeji Ake, Chiamaka Ozulumba and Oluwabunmi Fache, who monitored the Global Virtual Commemoration of Nigeriaâ&#x20AC;&#x2122;s 60th Independence Anniversary, which was organised by the THISDAY/Arise Group, write that it was a potpourri of hope, resilience, assurance and prediction of better days by a legion of local and global figures

President Buhari

t was a virtual show. One which cut across London, Lagos and Abuja but streamed to a global audience on ARISE Play, ARISE NEWS CHANNEL, YouTube, Instagram, Facebook, and Twitter, amongst other media channels. The event which was held to commemorate Nigeriaâ&#x20AC;&#x2122;s 60th independence anniversary celebration, was organised by the THISDAY/ARISE Group. Tagged â&#x20AC;&#x153;The Global Virtual Commemoration of Nigeriaâ&#x20AC;&#x2122;s 60th Independence Anniversaryâ&#x20AC;&#x153;, the six-hour virtual show lasted for six hours. In between speeches and goodwill messages were a melting pot of music, art and fashion shows. The show was anchored by the duo of Arise TVâ&#x20AC;&#x2122;s Ojy Okpe and Charles Aniagolu. Powered By The global virtual commemoration of Nigeriaâ&#x20AC;&#x2122;s 60th independence anniversary was powered by Access Bank, Guaranty Trust Bank, Zenith Bank, Polaris Bank and Bet9ja,

Prince Nduka Obaigbena among others. Potpourri of Music, Fashion Given that music is one of the biggest exports Nigeria boasts of, it was only fitting that the best of the best in the Nigerian music industry graced the occasion. From Wizkid to Davido, Tiwa Savage, Flavour, Tuface Boy, Yemi Alade, Burna Boy, Dare Art-Alade and Lola Rae, they all brought different flavours to the epoch event. Sani Danja was not left out. For fashion, icons like Deola Sagoe, Lanre Da Silva, Tiffany Amber, Lisa Folawiyo, Odio Mimonet and newbies like Tania Omotayo graced the virtual show. Kenneth Ize was also not left out. With Nigerian music blaring in the background, the models for the different fashion houses strutted down the runway. Promise of Reforms Prior to introducing President Muhammadu Buhari, Chairman and Editor-in-Chief, THISDAY

Newspapers and ARISE Group, Prince Nduka Obaigbena, said the president promised a legacy by political reform; economic reform beginning with the regulation and reducing inequality in the economy. Salute to Courage In his address, President Buhari stressed that clocking 60 was of no means a small feat, especially with the daunting challenges, culminating in the civil war. â&#x20AC;&#x153;Our diamond age is by no means a small achievement. We must salute the courage and painstaking efforts of our founding fathers to bequeath a country of great promises. We also pay tribute to all those who in search for a better Nigeria made supreme sacrifices with their lives. â&#x20AC;&#x153;The vagaries of lifeâ&#x20AC;&#x2122;s journey, are often filled with great dangers necessitating the effectiveness of consistent innovations and creativity, to be able to manage our individual

ambition and destination in many ways, and to maximise the collective benefits of our common humanity. â&#x20AC;&#x153;Our politics, and our collective inability dread above several of our fault lines have been critical and fundamental to Nigeriaâ&#x20AC;&#x2122;s imperfect journey in the last 60 years. Some of these concerns and indeed challenges of independence, remain regrettably, so even today. As we mentioned, this does not in any way diminish the achievements of our country. â&#x20AC;&#x153;In the last 60 years, the fact remains, however, that none of our challenges has impacted more negatively. As we celebrate this diamond age today (Thursday), we must never lose sight of the untravelled route to Nigeriaâ&#x20AC;&#x2122;s manifest destiny. â&#x20AC;&#x153;We offer this to millions of our people who have continued to invest hopes and huge expectations in their leaders and national elites. We also owe this to Africa and the black race, to enhance the dignity and self esteem of the

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

FEATURES 2020 INDEPENDENCE EDITION black people throughout the world.â&#x20AC;?

afforded an opportunity to reflect on the journey so far.

Call to Unity For the Secretary to the Government of the Federation (SGF), Boss Mustapha, unity is key. According to him, with unity, Nigeria would be returned to its golden past. Stressing that the feats achieved in past were borne out of unity, he charged Nigerians to imbibe the spirit of togetherness and collective thinking, adding that the support of communities, individuals, private sector, religious leaders, traditional rulers is needed.

Thriving in Unity President of the African Development Bank, Dr. Akinwunmi Adesina said â&#x20AC;&#x153;Together and united, we shall thrive and we shall prosper and together we shall shine, together, we shall excel and bring honour to our land.â&#x20AC;? Six Decades of Achievement Noting that if Nigerians unite and ensure the indivisibility of the country, Nigeria will record even greater achievements, the founder of Zenith Bank, Jim Ovia, said Nigeria has achieved so much in the past 60 years in the areas of education, enterprises, entertainment and many other sectors.

Projection of Greatness While commending Nigeria for the achievement recorded despite daunting challenges, former British Prime Minister, Tony Blair, and projected that the nation would be one of the greatest nations on earth. However, he posited that even with the two key problems of Nigeria- bad policies and bad governance, there is hope that the country would overcome these challenges. Reminiscence of Sovereignty Reminiscing over how Nigeria got its independence, Permanent Secretary, Ministry of Industries, Alhaji Ahmed Joda (Rtd.) said the moment, Nigeria became a sovereign nation, it was a mixture of million of hearts, plenty of emotions and the hopes and expectations that were ahead. Also in his address, former Minister of External Affairs, Prof. Bolaji Akinyemi, reminisced about how passionate they were as Nigerians. According to him, after studying abroad, they turned down offers of citizenships just to return home because they believed in the Nigerian dream. â&#x20AC;&#x153;We had world recognised teaching hospitals, airlines, shipping lines. Some of the best brains in the world were Nigerians. We were called the African Giant and we believed it. Our vision was for Nigeria to reach the sky and the stars.â&#x20AC;? Delivering on the SDGs The Deputy Secretary-General of the United Nations, Amina Mohammed, in her speech, addressed the issue of Nigeria endeavouring to deliver on the Sustainable Development Goals, adding that the support of the UN is guaranteed. Noting that Nigeria missed it when it failed to develop the rural areas, she said: â&#x20AC;&#x153;My humble reflection is the missed opportunity of investing in our local level of government, where our communities and our people, the diamonds in the rough, reside. â&#x20AC;&#x153;My hope is that we will find it in ourselves to rise up against what divides us and look for the strands and the fabric of nature that bind us together; that we find the wisdom and the courage to embark upon a new journey of discovery that will see the young people of this great nation shape its future. That we may all rise to our aspirations in peace, in unity in dignity and respect for each other, leaving no one behind.â&#x20AC;? Charge to Youths In his charge to youths, the immediate past Senate President and former Governor of Kwara State, Dr. Bukola Saraki said: â&#x20AC;&#x153;Today, providing for the basic welfare of our young people is a challenge. Why do I focus on young people? Simply because they are our future. It is they who in 40 yearsâ&#x20AC;&#x2122; time will be the august individuals celebrating our centenary independence anniversary. Indeed, the greatest resource this great country has today is, to my mind, our dynamic, resourceful, and ebullient young people who presently constitutes more than 50 per cent of the population. So, numerically speaking, the country is already theirs. â&#x20AC;&#x153;If we establish the foundation for a future in which our youths can drive Nigeria forward, we definitely will have a strong chance of rebuilding our country. Then, we can perhaps at long last realise the dreams of our founding fathers. â&#x20AC;&#x153;The issues of security, underdevelopment, lack of unity and the negative forces which propel the recent surging demand for the disintegration of our country cannot be defeated if we fail to advance the right capacity building and utilisation policies and programmes for Nigeriaâ&#x20AC;&#x2122;s youths.â&#x20AC;? Creating Enabling Environment For the Lagos State Governor, Mr. Babajide

Sanwo-Olu, one of the most crucial priorities of his government is creating an enabling environment for the youth to attain their individual potential. Noting that his government has recognised the critical role of the youth in the development of the country, he said opportunities will be created for them to achieve their goals.

claim they are not satisfied. â&#x20AC;&#x153;It is my hope that Nigeria will have peace and develop a true national identity and see each other as brothers and sisters. It is my hope that this country will realise in my lifetime, the potential of being a truly great third world country that will rise to become one of the first world countries.â&#x20AC;?

Promotion of Merit, Rule of Law Harping that Nigeria has the capacity to be better especially where the promotion of merit and the rule of law are encouraged, Governor of Kaduna State, Mallam Nasir el-Rufai, also called for focus on a new national discourse where merit superintends over diversity.

Spirit of Optimism, Innovation, Creativity â&#x20AC;&#x153;Our country has known many turbulent times. We have gone through wars, economic recessions, terrorist attacks and the COVID-19 pandemic. Throughout it all, we have come out strong resilient and optimistic. Even when times are hard, Nigerians are known never to give up,â&#x20AC;? former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said. She added, â&#x20AC;&#x153;I salute this spirit of optimism exuberance, innovation and creativity. I salute our young people who embodied these attributes. No matter how tough the times are, I know Nigeria and Nigerians would overcome. My own love for our country and the pride I have in being Nigerian would never disappear or dissipate. I hope you cherish your own love for our country.â&#x20AC;?

Embracing Patriotism Delving into the issue of patriotism, Delta State Governor, Dr. Ifeanyi Okowa, said primordial loyalty and sentiments have subsumed under an all-embracing national ethos of patriotism, commitment, honesty, integrity and justice. Urging Nigerians to shun division, he said â&#x20AC;&#x153;the times we live in call for unshakeable faith, courage, and optimism and our ability to build a country of our collective dream and become the envy of other nations. Yes! It has no been an easy journey by any stretch of the imagination. â&#x20AC;&#x153;It is not debatable that we are yet to fully realised our collective aspirations as a united prosperous country, where primordial loyalty and sentiments have subsumed under an all-embracing national etho of patriotism, commitment, honesty, integrity and justice. Nevertheless, we must appreciate the progress we have made. I believe we can be proud of how far we have come as a country.â&#x20AC;? Adjusting Gaps in the System On nation building, the Nigerian Governors Forum (NGF) Chairman and Ekiti State Governor, Dr. Kayode Fayemi, posited that to achieve a perfect union, correcting impediments to progress, adjusting the gaps in the system and believing that Nigeria is more than the sum of its parts, are the way out. Admitting that over the years, Nigeria had grappled with difficult challenges like depressing civil war, disruptions of democratic systems, painful recessions, and horrible epidemics, some of which seemed certain to break the ties that bind the country, he said none could break the resilient Nigerian spirit. Stressing that our problems should not define us, he noted â&#x20AC;&#x153;yes, there are ample reasons to be dissatisfied with our seeming inability to turn our huge potential to visible success. True, we are not where we ought to be. But the irony of the Nigerian story is that while her inadequacies are apparent to all, her progress is difficult to ignore either. To suggest that Nigerian has not made progress is to declare that the works of her heroes and heroines are in vainâ&#x20AC;?. Right Policies Former Emir of Kano, Sanusi Lamido Sanusi, in his address, said â&#x20AC;&#x153;We need the right policies that will make us stronger and undivided. Those who think that dividing the country is the solution to our challenges, will soon realise that division will lead to further divisions because there will always be people who will

Investment in Critical Infrastructure The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said though the COVID-19 pandemic significantly impacted on the federal governmentâ&#x20AC;&#x2122;s revenue, it has, however, continued to invest in critical infrastructure to ensure continuous growth hinged on programmes and projects that would enhance employment of the large percentage of youths. Keeping Hope Alive The Minister of Foreign Affairs, Mr. Geoffrey Onyeama, urged Nigerians to keep hope alive and remain resilience so as to overcome national challenges. Harping on the Positives Despite the daunting challenges, Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, would rather Nigerians harp on the positives. He noted that though there are lots of negativities in the country, the positives far outweigh the negatives for Nigeria, adding that the nation is on the right trajectory under the present administration. Revisiting Ideals of Past Leaders Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, charged Nigerians to rededicate themselves to those ideals, which the nationâ&#x20AC;&#x2122;s founding fathers paved as a way for activities that harnessed the creativity and ingenuity of Nigerians. He said those ideals once helped Nigeria to become a great nation. He said: â&#x20AC;&#x153;Our leaders fostered inclusive growth by investing in the areas that yielded job creation and greater economic growth. In the light of these investments and efforts of our founding fathers, they were able to turn our dreams of a greater Nigeria into reality.â&#x20AC;? Noting that the COVID-19 pandemic further amplified the challenges faced by the nation, he however stated that out of every crisis, comes opportunities, adding that the 60th anniversary as an independent nation has

Population as Most Valuable Resource Managing Director and CEO of Guaranty Trust Bank Plc, Olusegun Agbaje, said the most valuable resource that Nigeria boasts of would be its population, which placed it seventh largest nation in in the world, adding that with the vibrant youths who form 60 per cent of that population and the untapped natural resources, the next six decades will be better off for Nigeria and Nigerians. ReďŹ&#x201A;ections for the Future Managing Director and CEO of Access Bank Plc, Mr Herbert Wigwe, called on Nigerians to reflect on the future of the country, adding that though Nigerians have succeeded in many fields of human endeavour, there is so much more work to be done â&#x20AC;&#x153;I think today is also a time for us to reflect on national unity, national security and a day for all of us as Nigerians to make a full commitment to ourselves that we will work together to make our country the greatest country in the continent,â&#x20AC;? he said. Indomitable Nigerian Spirit The Chief Executive Officer of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, praised the indomitable Nigerian spirit, adding that Nigeria is the beacon of hope for the black race given that its citizens are extremely talented, intelligent, hardworking, brilliant, dogged and a creative nation. These attributes, he said, have continued to underscore the very outstanding accomplishments of our various compatriots at home and abroad. Responsible Leadership While citing the pivotal role First Bank Nigeria Limited has played in the overall socio-economic development of Nigeria, its CEO, Mr. Adesola Adeduntan, commended President Buhari for providing the nation with responsible leadership. Making Nigeria Great Again Stressing that the future is great, President of the Dangote Group, Aliko Dangote, said only Nigerians can make Nigeria great again. Reiterating that Nigeria has surmounted challenges since independence he said: â&#x20AC;&#x153;The future is great and we should have hope in our country Nigeria. â&#x20AC;&#x153;Nigeria as a country is blessed with arable land, good climate, mineral resources. With the population of the youths of Nigeria, the country must focus on agriculture to grow the economyâ&#x20AC;?. Sustaining Growth Trajectory To sustain the growth trajectory of Nigeria, the Chairman/CEO BUA Plc, Samad IshakuRabiu, reiterated the call for the unity in line with the vision of our founding fathers. He said: â&#x20AC;&#x153;Our founding fathers built us a nation, one that is bound in freedom, peace and unity. As citizens and leaders today, we must do all that we can to build on that vision, sustain the legacy and then pass it to the future generation.â&#x20AC;? Endowment of Talent, Resilience Founder, BET9ja, Mr Ayo Ojuroye, described Nigeria as blessed with so much talent, natural resources, with Nigerians that are hardworking, resilient, humorous and determined, an endowment he stressed will make Nigeria great. Although the commemoration might have come and gone, the reflections and predictions by policy makers and diplomats leave a trail of hope that must not be snuffed.

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

T H I S D AY Ëž ÍłË&#x153; 2020

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

REPO 1.58 1

CALL 1-MONTH 3-MONTH

1 2.13 3.38

A T

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

O C T O B E R

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

626.75% 0.01% 0.01%

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

2 , 0.01% 30.26%

2 0 2 0 EXCHANGE RATE N379/1US DOLLAR* ĚŠ

Quick Takes AfDB Wins Award

COURTESYVISIT

L-R: Permanent Secretary, Lagos State, Energy and Mineral Resources, Mr. Mustapha Abdul-Ahmed; Group Managing Director, Mojec International Holdings, Ms. Chantelle Abdul; Commissioner for Energy and Mineral Resources, Lagos State, Engr. Lere Odusote,and Chairman, Mojec International Holdings, Mrs. MojisolaAbdul,duringavisitbyLagosStateCommissionerforEnergyandMineralResourcesandothertopgovernmentalfunctionariestoMojecInternational HoldingsinLagosâ&#x20AC;Śrecently SUNDAY ADIGUN

H. Pierson Warns FG against Debt Trap Obinna Chima

ECONOMY

The Executive Vice Chairman, H. Pierson Associates Limited, Eileen Shaiyen, has warned that Nigeriaâ&#x20AC;&#x2122;s debt level has become a major course for concern locally and abroad. She stated this in an article obtained at the weekend, adding that the declining trend would best be appreciated against three key indices. These she listed to include the countryâ&#x20AC;&#x2122;s debt to Gross Domestic Product (GDP) ratio, and of more importance in this context, its debt service to revenue ratio and debt to revenue ratio. According to her, while the debt to GDP ratio has trended up from levels in 2016 at 23.41 per cent, 2017 at 25.34 per cent, 2018 at 27.26 per cent and 2019 and 2020 estimates were put at 29.78 per cent and 31.35 per cent, respectively against an international threshold of 30 per cent. The other two ratios show even greater concern, she stressed. On the other hand, she said the countryâ&#x20AC;&#x2122;s debt service to revenue ratio has trended upwards from

2011 levels of 21.2 per cent, to 2015 at 51.9 per cent, 2016 at 86.6 per cent, 2017 at 78.6 per cent, 2018 at 67.7 per cent and first quarter (Q1) 2020 at 99 per cent. These, she pointed out was against the international threshold of 20 per cent to 25 per cent. â&#x20AC;&#x153;This trend is very worrisome when considering the future of the countryâ&#x20AC;&#x2122;s very youthful population in need of a major boost in economic growth through major fiscal interventions to stimulate education, health, infrastructure, etc., as against putting such expenditure into the service of debt that is perceived to be largely mis-applied,â&#x20AC;? she emphasised. Similarly, in terms of debt to revenue, she noted that the major index also showed major deterioration from estimates of 348 per cent in 2019 to 538 per cent estimated for 2020. â&#x20AC;&#x153;This also is against an international threshold of about 250 per cent. The implication of this serious situation is the potential of an imminent debt trap in which

the country will neither be able to meet its debt service obligations nor will it be able to meet its obligation to its 200 million citizenry through funding of its capital and recurrent expenditure. â&#x20AC;&#x153;This comes with numerous other socio-economic consequences impacting on some of the key Sustainable Development Goals of poverty, hunger, health, education, as well as issues of social unrest, crime. â&#x20AC;&#x153;Having wasted numerous opportunities to proactively and decisively confront the issues responsible for this poor state of financial affairs, there is now an urgent call to leadership at the Federal and State levels to embark on fundamental and structural changes to address this debt crisis. â&#x20AC;&#x153;A first good move is the plugging of all major revenue leakages and therefore reduce the governments dependence on debt financing. This makes the current decision to remove subsidies on electricity tariffs commendable if it can be committedly executed. â&#x20AC;&#x153;The great double advantage here includes the increase in avail-

able government revenues from the subsidy removal, as well as the resulting attractiveness of the two sectors to much-needed foreign direct Investment. The long-term impact for the power sector is the increased availability of power and the huge multiplier effect of that on the productive sector and overall GDP,â&#x20AC;? she added. Commenting further on revenues, the H. Pierson boss further noted that beyond plugging the leakages, ramping up revenues through initiatives that would attract private capital into optimising the natural resources in each of the 36 states was fundamental, while the government mainly takes a regulatory role. According to Shaiyen, each of the 36 states has massive natural resources that remain relatively docile, stressing that the government must fast-track initiatives that would unlock the private-sector-driven potentials in this sector, provide enhanced tax revenues to government and drive up overall GDP. Continued on page 24

FG Urged to Overhaul Aviation Policies Chinedu Eze The Rector of International Aviation College, Ilorin and former acting Director General of the Nigerian Civil Aviation Authority (NCAA), Benedict Adeyileka has said two key ways the federal government can revamp the aviation industry are to overhaul the policies that guide the sector and to ensure the implementation of those policies. Adeyileka in an interview with THISDAY said the Bilateral Air Service Agreements (BASA) and other policies formulated in the past seemed to have given foreign airlines advantage in their operations into the country, adding that recently policies introduced by government under the current

AVIATION administration are beginning to protect domestic airlines. He therefore urged government to overhaul the old, existing policies to further protect domestic operators in order to help the industry grow and create more jobs for the citizens. â&#x20AC;&#x153;Policy is very important in moving the aviation industry forward. The Minister of Aviation and the Director-General of NCAA have the power to overhaul policy regulations. We had policy formulation on cabotage, empowerment of Nigerian airlines and General Aviation among others, but as far as I am concerned, there were good policies we had in

2012 or 2013. â&#x20AC;&#x153;I remember I had to go and defend some of those policies in public hearing at the National Assembly when I was acting Director General of NCAA. There are lots of policies we can put in place to encourage the local carriers,â&#x20AC;? he said. Adeyileka who is aircraft engineer said Nigerian carriers are not supposed to pay duties on aircraft spares, saying that if there is a standing policy on that, the Minister of Aviation would not be reverting to Customs every year to renew waivers on tariffs on aircraft and spares importation. â&#x20AC;&#x153;For instance, this issue of duties paid by airline operators, from time immemorial in United Kingdom, they donâ&#x20AC;&#x2122;t have that for spare parts for airline opera-

tors, they give you what we call end user number, which is to ensure that the spare parts you are bringing in, you are to use it on your aircraft and not to resell it to another operator. â&#x20AC;&#x153;The customs in that country will check the spare part critically, look into your record in order to verify that the parts are installed in the right aircraft you claimed you wanted to use them for. The duty is granted to airline with valid Air Operatorsâ&#x20AC;&#x2122; Certificate (AOC) only,â&#x20AC;? Adeyileka also said. On the effect of coronavirus on the aviation industry, he said that concerned authorities in the industry should be more flexible with COVID-19 protocol in order to encourage more people to

The African Development Bank (AfDB) has been selected in a poll of bond market players as the best issuer in 2020 of a COVID-19 bond for its $3 billion dollar-denominated Fight COVID-19 social bond issued on March 27, 2020. The winners of the GobalCapital Bond Awards 2020 were announced on 30 September at a ceremony held virtually for the ďŹ rst time in 12 years. GlobalCapitalisaleadingsourceofinformationonglobalcapitalmarkets with coverage of all market segments. â&#x20AC;&#x153;We are grateful for the marketâ&#x20AC;&#x2122;s recognition of the Bankâ&#x20AC;&#x2122;s eďŹ&#x20AC;ort in responding quickly to the needs of the continent with its Fight COVID-19 Social Bond which is an important instrument in alleviating the impact of the COVID-19 pandemic on African economies and lives. â&#x20AC;&#x153;Thanks to the very strong support received by investors, we were able to provide an eďŹ&#x192;cient response at a very challenging time while also catering to the needs of socially responsible investors looking for impactful investments,â&#x20AC;? the Bankâ&#x20AC;&#x2122;s SeniorVice President and Chief Finance OďŹ&#x192;cer, Ms. Bajabulile Swazi Tshabalala said. The Fight COVID-19 bond, ďŹ&#x201A;oated on the Luxembourg Stock Exchange and signiďŹ cantly oversubscribed, was the worldâ&#x20AC;&#x2122;s largest social bond at time of issuance. The Bank has since listed the bond on both the London Stock Exchange and Nasdaq. Bond proceeds, with a three-year maturity, will go to alleviate the impact of the pandemic on livelihoods and Africaâ&#x20AC;&#x2122;s economies. â&#x20AC;&#x153;Theprimarydebtcapitalmarketsâ&#x20AC;&#x2122;responsetothecoronaviruscrisishas been resilient and robust. Institutions all over the world from governments and multilateral development banks, to domestic lenders, to companies have raised vital ďŹ nancing to see them through this extraordinary period,â&#x20AC;? GlobalCapital noted in its winnersâ&#x20AC;&#x2122; announcement release.

BEDC Suspends Service-based TariďŹ&#x20AC;

The Management of BEDC Electricity Plc (BEDC) has announced its compliance with the Order from the Nigerian Electricity Regulatory Commission(NERC)basedonthecommuniqueissuedafterameetingbetween the federal government and the labour unions requesting the suspension of the new service reďŹ&#x201A;ective tariďŹ&#x20AC; for 14 days pending consultations and ďŹ nalisationofnegotiationsbybothpartiesonthenewtariďŹ&#x20AC;implementation. BEDC management said in a statement at the weekend that it will be complying with the 14days suspension order which is to take eďŹ&#x20AC;ect from September 28th to October 11, 2020 using the rates applicable as at 31st August for its various customers. The company said postpaid customers would have their charges for the suspension period reďŹ&#x201A;ected in the bills to be delivered in October aďŹ&#x20AC;ecting this consumption period. Bills sent to customers in October 2020 is based on September 2020 consumption and band wise tariďŹ&#x20AC; as per NERC classiďŹ cation will apply. Similarly, prepaid customers have commenced vending based on the changed rates.

Adron Homes OďŹ&#x20AC;ers 50% Discount

Nigeriaâ&#x20AC;&#x2122;s real estate development company, Adron Homes, is celebrating Nigeriaâ&#x20AC;&#x2122;s 60th Independence anniversary with mega 60 hours sales promotion that will attract 50 per cent discount on every sale. Through this initiative, Adron Homes will be rewarding its customers with deep discounts across its 34 estates across Nigeria. In line with its commitment to empower Nigerians and provide them with decent and aďŹ&#x20AC;ordable housing solution, the promotion, which is billed to last for 60 hours, started from 12 noon September 30th and will end 12 noon October 7. Speakingontheinitiative,thegroupManagingDirectorofAdronHomes, Adetola EmmanuelKing, stressed the importance of building the nation right and living in peaceful communities just as the company guarantees in all of its estates. â&#x20AC;&#x153;During this critical period when everyone across the nation is striving to survive the adverse eďŹ&#x20AC;ects of the pandemic, this serves as our own way of celebrating the achievements of this great country while concurrently empowering young and ambitious Nigerians by making the incredible affordable to Nigerians across board.

â&#x20AC;&#x153;The NIPOST Microfinance Bank is perhaps one of the latest companies that will go into operations out of the unbundled entities. We envisage that may be before the end of the year, NIPOST Property Development Company, the first subsidiary company should be able to go into operationsâ&#x20AC;? DG, Bureau of Public Enterprises,

Continued on page 24

Alex Okoh

the e of omural rch nnir hat ant ow uce oss vest. the of

T H I S D AY Ëž ÍłË&#x153; 2020

BUSINESSWORLD H. PIERSON WARNS FG AGAINST DEBT TRAP Beyond plugging revenue leakages to drive the revenue side, very serious actions would need to be taken to shrink the key cost drivers in government, she advised. â&#x20AC;&#x153;While there have been a few initiatives in this regard, the more fundamentally impactful decisions needed here will need to be taken sooner than later. This involves a massive cut in the cost of governance across all arms and levels of government. First, this involves the need to significantly shrink operating costs in the public sector. â&#x20AC;&#x153;The use of bogus executive cars, multiple aids and assistants, etc., are decisions that can be quickly addresses. The more fundamental elements of cost that will aid long term financial sustainability however involves the need to largely shrink our bogus public governance structure at all levels. â&#x20AC;&#x153;For this to happen, the need to migrate conversation in this regard from a political platform to an economic survival and sustainability platform is imperative. FG URGED TO OVERHAUL AVIATION POLICIES

fly, especially on international destinations. â&#x20AC;&#x153;There are some countries that do not require Covid-19 test as condition to come to their country, so authorities at the airports should not insist that passengers should have the test before travelling to those destinations. â&#x20AC;&#x153;For you to go to the UK you donâ&#x20AC;&#x2122;t need to do this Covid-19 test, they have their own procedures. I am not saying that is right. When you put something in place, it has to be user-friendly. When we travelled to Brazil, we did Covid-19 test. They didnâ&#x20AC;&#x2122;t ask us for it when we got to the country. We donâ&#x20AC;&#x2122;t have to go through the rigorous experience we went through in Nigeria. â&#x20AC;&#x153;Go to Turkey, you will get your Covid-19 test done at the airport and result out within two hours. You donâ&#x20AC;&#x2122;t even need to wait for your result, you will get it on your phone, but coming to Nigeria, it is a tough one. Though, the government wants to ensure that we are 100 per cent safe, but when you tighten the regulation too much.

NEWS

Foreign Venture Capital Firms Killing Nigerian Businesses, Group Cries Out Dike Onwuamaeze The Business Founder Coalition (BFC), which is made up of Nigerian entrepreneurs has cried out to the federal government to protect Nigerian enterprises from being hijacked by foreign predatory venture capital firms in disguise of equity investments. The BFC also advocated for a better investment climate that would protect local entrepreneurs from foreigners and urged government to put in place policies that do not allow foreign investors to have controlling rights in a Nigerian founded business. It also called on the government to look into the development of a Nigerian venture fund that would support the growth of local businesses and ensure that all legal contracts to guide foreign equity investments in any Nigerian enterprise are domiciled in Nigeria. The promoters of the BFC said: â&#x20AC;&#x153;The present inadequate laws of the land, which allow for the complete â&#x20AC;&#x2DC;fleecingâ&#x20AC;&#x2122; of Nigerian businesses who brave welcoming foreign investments, must stop! Putting in place a local entrepreneur protectionist structure will not stop any genuine investor.â&#x20AC;? The membership of the coalition, which addressed a media briefing recently was made up of the Founders of Synlab

Nigeria (Formerly Pathcare), Mr. Richard Ajayi; Wakanow - Mr. Obinna Ekezie, and Mr. Ralph Tamuno; Healthplus - Ms. Bukky George; Chicken Republic - Mr. Deji Akinyanju and Filmhouse Cinemas - Mr. Kene Mkapru. Ajayi, who is the spokesperson of the BFC, said the coalitionâ&#x20AC;&#x2122;s objective is to draw the attention to the plight of Nigerian entrepreneurs, â&#x20AC;&#x153;who out of sweat and grit started their business but at some point in the pursuit of growth, have had to access venture capital

funds or foreign investments. â&#x20AC;&#x153;Our experiences have largely been â&#x20AC;&#x2DC;tales of woes,â&#x20AC;&#x2122; which has the possibility of stunting the growth of indigenous businesses like ours. We are also hoping that through this coalition, government can enact policies and laws that will correct that apparent lopsidedness.â&#x20AC;? He stated that most of indigenous entrepreneurs were constrained by prevailing unfavourable and unavailable access to local financing to approach foreign

investors and venture capitalists to grow their business. â&#x20AC;&#x153;Entrepreneurs in Nigeria do not have many options for growth capital, bank loans are prohibitively expensive with a high interest, which is if you can get a bank to lend you money. So, when you are talking to only one investor, which is usually the case, you really are between the â&#x20AC;&#x2DC;rock and a hard placeâ&#x20AC;&#x2122;. You either take the money on the onerous terms or you watch your business dreams evaporate like many have done.

â&#x20AC;&#x153;They (foreigners) usually seek for controlling rights as one of the conditions to invest. But, against the â&#x20AC;&#x2DC;spirit of the letter,â&#x20AC;&#x2122; they often use this to wrestle control from the founders and force their positions, which can be inimical to the growth of the business and overall national development.â&#x20AC;? He added: â&#x20AC;&#x153;As a coalition we appreciate that there are many good private equity companies, but unfortunately, there are some who come into Nigeria literally to hijack our companies.

AIROPERATIONCERTIFICATION

L-R Accountable Manager/ COO, Elin Group Mr.Enyi Omoke, Director of Operations,Licensing and Training, NCAA Captain Elisha Bahago; Chief Executive Officer, Elin Group,Mrs Elizabeth Jackrich,and NCAA;s Director of Airworthiness Standards/ Chairman Flight Safety Group, Engr.Ajiboye Kayode during the presentationofAirOperatorCertificate(AOC)toElinGroupbytheNigerianCivilAviationAuthority(NCAA)inLagosrecently.

NSE Enhances Fixed Income Market, Capitalisation Rises 27% to N16trn Goddy Egene The Nigerian Stock Exchange (NSE) has improved its fixed income securities market segment as well as the associated benefits on its platform. This is just as the fixed income market capitalisation has increased from N12.9 trillion at the end of 2019, to N16.4 trillion, showing a jump by 27 per cent. The NSE disclosed this in a statement. The Exchange had introduced a trading fee moratorium to stimulate activities and liquidity in the fixed income market as part of its liquidity-enhancing efforts.

And following the end of the 4-year Fixed Income Securities Trading Fee moratorium, the exchange received the regulatory approval of the Securities and Exchange Commission (SEC) to revise its fee structure. Hence, a revised fee structure would become effective today. Under this revised fee structure, the exchange would charge 0.0005 per cent (N5 per million) on debt instruments traded on its platform. The NSE said it offers a hybrid market for the execution of quote and order-driven transactions providing dealers as well as institutional and retail investors access to increased liquidity in

fixed income securities. â&#x20AC;&#x153;By leveraging best-in-class market design and infrastructure, the NSE trading venue provides investors integrated straight-through trading and post-trade process that supports efficient execution without any trade failures across all asset classes including fixed income securities. Investors trading via the NSE platform can also enjoy access to diverse listed debt instruments including federal government, state government, corporates, supranational and retail savings bonds,â&#x20AC;? the exchange said. It added that it continues to conduct various training, workshops and conferences on

fixed income securities products to build domestic capacity and enhance financial literacy while encouraging inclusiveness. â&#x20AC;&#x153;We remain committed to our corporate goal of providing investors and businesses a reliable, efficient and an adaptable exchange hub in Africa, to save and to access capital,â&#x20AC;? the NSE said. In line with efforts to further build capacity and enhance investorsâ&#x20AC;&#x2122; participation in the fixed income market, the NSE will host a two-day webinar on this Wednesday and Thursday for capital market stakeholders. The webinar which is in collaboration with the Debt Management Office

and CSL Stockbrokers. The webinar will be hosted by the Chief Executive Officer, NSE, Mr. Oscar Onyema and is expected to feature the Director-General, Debt Management Office, Ms. Patience Oniha as well as other industry players. According to the exchange, the sessions have been designed to enhance dealing member firmsâ&#x20AC;&#x2122; understanding of the debt market structure, trading techniques, bond pricing, and the settlement of bond trades. On the part of the investing public, the workshop will highlight the opportunities and benefits in the fixed income market.

Ari Reads Riot Act to ITF Staff Seriki Adinoyi in Jos

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising)

The reappointed Director General of Industrial Training Fund (ITF), Joseph Ari has charged staff of the Fund to rise up to their various duties, warning that, â&#x20AC;&#x153;The tendency for a segment of the workforce, to standby, inert and unwilling to contribute to the development of the Fund will no longer be tolerated.â&#x20AC;?

He added that, â&#x20AC;&#x153;Management has resolved to completely stamp out through appropriate sanctions all negative tendencies that are obstacles to the wheels of our progress, even as it is equally committed to ensuring that the entire workforce is carried along and is empowered to effectively perform its duties optimally.â&#x20AC;? Ari has just served out his first tenure of four years during which the ITF witnessed

achievements on many fronts. He was recently reappointed by President Mohammadu Buhari for another term of four years. At a reception organized by management staff of the Fund in his honour in Jos recently, the DG appreciated the contribution of staff that made his first tenure a success, but warned that all hands must be on deck to ITF to an enviable

height. He said, â&#x20AC;&#x153;I must appreciate that discipline in the Fund has improved tremendously as staff are more punctual and regular at work, but punctuality and regularity are no longer enough. â&#x20AC;&#x153;I therefore urge supervisors and responsible officers not to hesitate to apply all necessary and appropriate sanctions to rid our system of indolence, truancy, harmful gossip and

other such abhorrent attitudes, as they have no place in our dear institution. All hands must be on deck in moving the ITF to the next level.â&#x20AC;? He, however, said his doors are always be open for new and innovative ideas that will drive the ITF forward, â&#x20AC;&#x153;as I believe that if creativity is given a free rein, we will together build the Agency that our forebears envisioned.â&#x20AC;?

Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

Farmers Trained on How to Avert Post-harvest Losses Ibrahim Shuaibu in Kano The Nigerian Stored Products Research and Research Institute (NSPRI) in collaboration with Shabewa Nigeria Limited has trained farmers from the seven North-west states on how to avert

post-harvest loss. The Director General of Nigeria Stored Products Research Institute, Dr. Patricia Onoghote Pessu, said the participants were selected from the north-west geopolitical zone, saying the training held in Kano aims at training them on food

storage as well as how to avoid post-harvest loss. The Director General represented by Senior Research Officer of the Institute, Adu Emmanuel Adeyemi, disclosed that the primary objective of the workshop was to disseminate vital information to the farmers

on post-harvest loss. According to him, the training would also improve productivity of small and medium scale farmers and improve value addition along the priority of value chain. According to him, 20 participants were trained on how to

maximise profits by recycling the leftover of their farm produce and storage techniques. The Director General added: The reports we have now in terms of agricultural loss is not good. Farmers lose a lot of their farm products because of poor storage.â&#x20AC;?

T H I S D AY Ëž ÍłË&#x153; 2020

BUSINESSWORLD

MONDAY INTERVIEW

Orji: Nigeria Has Competitive Advantage in Medical Services The Managing Director/Chief Executive Officer of the Nigeria Sovereign Investment Authority, Mr. Uche Orji, in this interview provides an update on the activities at the government agency since the beginning of the year; he spoke about the level of work at the Second Niger Bridge, the Lagos-Ibadan Expressway, as well as other projects being handled by the investment authority. Orji believes that with the quality of Nigerian healthcare practitioners working across the world, the country has a competitive advantage if it is able to fix the challenges in its heath sector and address the brain drain. Obinna Chima brings the excerpts: Can you give a brief on NSIA activities since the beginning of the year? So, year-to-date many things have occurred that have affected our programmes and our plans. You can attest to the fact that I donâ&#x20AC;&#x2122;t think anybody I know today has executed anything they had planned to execute at the beginning of the year. Whatever you planned to do in February or March has not happened and even if you decided to go ahead with it, it would have been completely different from whatever the intention was. It has been a very eventful period. We first of all made sure that all our employees are safe, which is very important. We ended up with a situation whereby many people worked from home during the lockdown period. Even up till now, we have maintained only about 40 per cent from our workforce physically present. But by this week we would resume work fully. So, the first thing was to keep our employees safe. The second thing is the Fundâ&#x20AC;&#x2122;s performance itself. The Fund has absolutely done relatively better than most of our peers. Of course, we donâ&#x20AC;&#x2122;t count our chickens before they hatch as the year hasnâ&#x20AC;&#x2122;t ended. But if you think about the whole volatile market environment, we have actually maintained a market position in most of our funds, which is in anyway keeps us in a very good position. We set up these Funds to earn steady returns. What I can assure you is that no matter how volatile the market is, we set up the NSIA to ensure that we get stable returns and it has been profitable. We have executed a number of projects. On Infrastructure Fund, which is the one we tend to focus a lot on, we have executed a number of projects. We have done very well in that regards. With our healthcare projects, we commissioned two diagnostic centres â&#x20AC;&#x201C; one in Kano, in March, even though it has been operational since December last year; also, we commissioned one in Umuahia in August this year. So, we have many more projects in the pipeline and over the next 12 months, we expect to also execute three more. One is the centre for advanced medicine in Abuja and two other specialist centres that deal with different aspects of therapy. But, we havenâ&#x20AC;&#x2122;t made up our final decision on where those ones would be. So, like I said, in terms of healthcare, we have 14 projects in healthcare. Also, along with Global Citizen, we have also created Nigeria Solidarity Support Fund. This Fund is for people that want to donate and help Nigeria fight Covid-19. The Fund is going to be used in building healthcare centres. It is a Fund that is owned by Global Citizen, but the NSIA is the Fund manager. So, that has been launched and there is a website available for that. I want people to be aware of that initiative. So, another thing has to do with our agricultural programme. In agriculture, we have a number of interventions. Firstly, we are the managers of the Presidential Fertilizer Initiative. We also direct investment in a demonstration farm, which has about 3,000 hectares in Nassarawa State and it is doing well. This is part of the NSIA-UFF, which is the South African â&#x20AC;&#x201C; Dutch specialist agricultural investment company. Remember that in 2016, we launched a joint fund targeted at $200 million to invest in agriculture in Nigeria. So, we are speaking to so many other state governments such as Ebonyi, Edo, farm managers in Kano and others. So, we have a lot of states on the pipeline and I will like to say that the joint fund with the UFF has been successful. So, I am pleasantly surprised by the success being shown by that farm and it has been profitable. The average farm in Nigeria produces about two to two and half tonnes per hectare of maize. But we are currently producing seven tonnes per hectare of maize and by the time all the mechanised equipment are installed, we

Oriji would be targeting 13 tonnes per hectare and we intend to do this in other areas where there are joint funds. But biggest problem with the Presidential Fertilizer Initiative is that it suffered the full impact of the COVID-19. It was such that transportation was affected. When COVID-19 started, we found out that the transportation time for raw materials was extended. Before COVID -19, it used to take three days for a truck to go from Port Harcourt to Kano. But, during COVID-19, that transportation time almost became eight to nine days. While we were there, Indorama which is the biggest and only supplier of urea shut down. But things are back to normal now, but it affected that period. So that was really one area where we saw the impact of COVID-19. The final thing is the roads. Many of you may not have been able to have been able to go back to the Second Niger Bridge

The NSIA was set up to enhance Nigeriaâ&#x20AC;&#x2122;s infrastructure. Secondly, the NSIA by its law is able to raise private capital, alongside public capital and this is part of what can make a project move faster

again since the last time I took some of you there. The decking is ongoing. If you go there youâ&#x20AC;&#x2122;ll see a bridge at one side of the decking. Work is going on there and I think itâ&#x20AC;&#x2122;s over 47 per cent completed now. The Lagos-Ibadan Expressway has similar level of completion as well as the Onitsha-Kano Road. Now, let me tell you, that is a public-private partnership (PPP). The Ministry of Works awarded those contracts and they completed the design. The NSIA is the fund manager. We have not had a full chance to have those projects under our control. At the moment we are working on a partnership basis and there will be a full concession signed very soon that will hand them over to the NSIA. But we have been funding this project since August 2018 and weâ&#x20AC;&#x2122;re going to the market to raise money to finish these projects. If you remember, these were the projects for which we were given the funds that were recovered from Late General Sanni Abacha. We have received the money from the United States government that was recovered from the Island of Jersey. So, we have deployed the money. So, we have so many things going on at the NSIA. You also know that most of our investee companies suffered some sort of delays in their project. And finally, Iâ&#x20AC;&#x2122;m sure you seen the announcement of Infraco by the Central Bank of Nigeria (CBN), where the NSIA, the African Finance Corporation and the central bank are coming together to create an infrastructure company. More details about it would be announced later. The idea is to create as much vehicles as much as possible to help drive the development of infrastructure in Nigeria. We are co-developers and investors in the Development Bank of

Nigeria (DBN) as well as the Family Homes Fund. We believe that if we develop all these types of companies, it would make the financial market in Nigeria very efficient and effective. So, these are some of the things that have been happening over the past six months. It has been busy here at the NSIA. But in a nutshell, one of the things that make us proud is that we are have remained consistent in terms of profitability. Yes, it has been tough here in the past few months, but, year-to-date, returns have been descent. Around April this year, the federal government announced that about $150 million would be drawn from the Stabilisation Fund. Has that money been given to the government? The money has been made available, but we are in the process of transferring it. I will explain why in a minute. Yes, it has been called officially. At the time in April, it was announced, but now it has been called and weâ&#x20AC;&#x2122;ve just agreed the exchange rate mechanism for which that has to be transferred to the central bank. So, the answer is yes, it has been called and it will probably leave our account in the next few days. As you know very well with governmentâ&#x20AC;&#x2122;s announcement and action, they do take time. So that is ongoing. To be honest, weâ&#x20AC;&#x2122;ve liquidated all the investments from which the money was needed as far back as April. Itâ&#x20AC;&#x2122;s just a matter of the process of finally transferring the money. As you all know, the government has its processes. I donâ&#x20AC;&#x2122;t think the money would be here within Continued on page 26

T H I S D AY Ëž ÍłË&#x153; 2020

BUSINESSWORLD

INTERVIEW

ORJI: NIGERIA HAS COMPETITIVE ADVANTAGE IN MEDICAL SERVICES the next two weeks, so technically itâ&#x20AC;&#x2122;s gone. Itâ&#x20AC;&#x2122;s just a matter of paper work. The federal government appears to be ceding more major projects to the NSIA for execution, what informed that and when will be the Second Niger Bridge and other major projects you are handling be ďŹ nalised? The NSIA was set up to enhance Nigeriaâ&#x20AC;&#x2122;s infrastructure. Secondly, the NSIA by its law is able to raise private capital, alongside public capital and this is part of what can make a project move faster. Government doesnâ&#x20AC;&#x2122;t have the resources and the NSIA can raise external capital from pension funds and other investors. So, combining public and private capital is the way now to deliver on infrastructure projects and the NSIA is the only entity of government set up to do that. So that I think are the reasons why that decision was taken to cede more projects to the NSIA. For the state of the projects, let me explain two things: These projects were already ongoing and the Ministry of Works had awarded those contracts. The only one that the NSIA was involved in from the very beginning was Second Niger Bridge. The other two were already awarded by the Ministry of Works. So the NSIA came in midway and had to inherit a contract. In the partnership, part of what weâ&#x20AC;&#x2122;re trying to do is make sure the nature the contract for these projects is acceptable to private investors. The Second Niger Bridge was designed to be acceptable to private investors. So we have not taken the full concession for the other two at the moment. The government has given us their own contributions and the NSIA has put its own contribution around already and weâ&#x20AC;&#x2122;ll be working together to deliver the project if that makes any sense. So, I think itâ&#x20AC;&#x2122;s important to understand that the NSIA was brought in by the government to ensure public, private partnership on the project. The other thing that the NSIA was able to do with the projects was to commercialise them. If you look at some of these projects, they were not designed to be toll roads for example, so there is an element of having to be redesigned so that they are tollable. So that is ongoing. Another thing is the funding structure is such that the federal government will put some money and the NSIA is putting its money from third parties to finish the project. Where we are, the Second Niger Bridge, the NSIAâ&#x20AC;&#x2122;s involvement in that project has been as far back as 2014. So we were there from the very beginning, but the Lagos-Ibadan Expressway and Abuja-Kano road, we were not there. So, there are some things the Ministry of Works still needs to tidy up as conditions precedent. For example there are some debts owed to the contractors running many years before we even got involved and we donâ&#x20AC;&#x2122;t want to put our heads in there and thereafter inherit those debts. So, we are making sure those things are sorted out. There are also design issues. But we are particular about the legacy debts issues because as you know, anything government is doing, especially if it has gone through several administrations, there would have been issues and all those stuffs have to be completely taken care of before we can now take full ownership and then bring investors in. So, the construction is going on and we are managing government funds for those projects and disbursing according to governmentâ&#x20AC;&#x2122;s instructions. So, you will see some of those project now being handed over to us before the end of this years. But, not entirely everything. For example, the Abuja â&#x20AC;&#x201C; Kano, there have been concerns about the delay and part of it has to do with the nature of the contract. For the Second Niger Bridge, we are working very hard on it and I am confident that we would finish it before the end of 2022. Actually, we are talking about February 2022 for the current section of it, but the access road would take some time to complete. But the part we are handling, which is 11.7 kilometres of the bridge, should be ready by the first quarter of 2022. LagosIbadan Expressway, also before the end of 2022, again because of the delay caused by Covid-19; Abuja-Kano road, once the Federal Ministry of Works is done with a few things that they need to handle, I should be able to give an updated timeline on that project. So, that is where we are now. The fund raising

The lesson we are learning now is what we should have learnt between 1973 and 1974. In 1973/1974, the OPEC crises happened, the oil sector ballooned and the Middle Eastern countries started setting up Sovereign Wealth Funds in 1976/1978. Abu Dhabi and Norway set up theirs around that period we must address it head on. To that extent, I want this country to be a centre of excellence such that people would be coming from other parts of the world for treatment. Are you aware that people to Eastern Europe to go and do medical treatment? That is because the quality is high and the cost is cheap. Why do people go to India? Itâ&#x20AC;&#x2122;s because it is cheap and quality is high. One area that Nigeria has competitive advantage from the developed world is medicine. We have trained doctors working in the United States, England, working everywhere in the world. So, if we treat our doctors well and keep them, people would come here for treatment. I am more than impressed by the doctors we have in this country. After my fatherâ&#x20AC;&#x2122;s death, I call the Chief Medical Director to say how much it will take to fix the hospital. So, thatâ&#x20AC;&#x2122;s the beginning of us doing all these things.

Oriji is going to keep us busy next year because we donâ&#x20AC;&#x2122;t have all the money; but we have a substantial chunk of the money. We have enough money to keep us going until the end of next year. So, by early next year we would do the fund raising, so that there would be no break in construction because of money. You are aware that the East â&#x20AC;&#x201C;West Road was one that had to be returned to the Ministry of Niger Delta Affairs as we could not agree on a number of things on the execution plan. We returned the money given to us by government that was earmarked for the East-West road to the Federal Ministry of Finance, Budget and National Planning and transferred the project back to the Ministry of Niger Delta. So, the East-West Road is no longer part of the projects we are handling. For Mambilla, there are a couple of things with it and there are legal issues outstanding as well. So, those projects are all ongoing. So, that is the status of the Presidential Infrastructure Development Fund (PIDF), which all these projects come under. With all your interventions in the health sector, especially with the specialised health centres, are those facilities affordable to Nigerians such that nobody would be denied treatment based on cost? Let me start this way, if you need to treat yourself for cancer, the closest you can go to is Ghana for the kind of equipment we have in Nigeria presently. Quite frankly, I hate it when people make comparison because ours is more superior by far. In Ghana, I was told that the price currently is almost four times for what you pay for same treatment at our centre in Lagos. That is Ghana. You havenâ&#x20AC;&#x2122;t gone to Dubai, Germany, Italy, Isreal, UK, United States, India or Saudi Arabia. Some even go to South Africa. These are all the places Nigerians go for medical tourism. We are the cheapest. For Ghana, a complete cost for radiotherapy for 30 days, our price is one quarter what they pay in Ghana. Remember that you have to pay for somebody to go with you; that person has to stay in a hotel and you have to bear additional cost. So, it is not free, but ours so cheap. That is because we chose at the NSIA to prioritise healthcare than to prioritise profit. The plan we have is to run them not for profit, but it will take a

long for us to recoup our investment and then hand it over to LUTH, Kano or Umuahia. So, in terms of affordability, I know that the most affordable thing is to have it for free, but it is not. Another thing I like to say is we donâ&#x20AC;&#x2122;t have health insurance, maybe we should talk about that. I know we donâ&#x20AC;&#x2122;t have endowments and foundations, maybe we should talk about that. So, people can put these things up. So, the point I am making is that we must be our brotherâ&#x20AC;&#x2122;s keeper. I have said it before and many times that a lot of people in the United States cannot afford cancer treatment in the United States and yet there are people who are wealthy, who were able to put together Foundations to help them. The money we invested here is the Future Generation Fund, so we must bring it back. Otherwise, your children and my children would ask us what happened. So, let all of us pool our resources together for this. That is why I am very thrilled and proud of NSIAâ&#x20AC;&#x2122;s partnership with Global Citizen, which is a global entity based in the United State. It brings people who are top there in the society to be philanthropic and bring money into health. They are targeting to raise N20 billion, which they would use to help each of the 774 local government areas in developing primary healthcare centres. So, that is the kind of thing I want to see more of. So, the best I can do is to make sure the specialised health centres are competitively priced. The other thing about this cancer centre which people donâ&#x20AC;&#x2122;t understand is that it is not about getting money to by the equipment, the cost of those things is like two months profit for the NSIA, based on how we are running now. But the biggest challenge was getting the doctors, the oncologists and the radio therapists. So, we built a training centre at LUTH so that we can treat people and once we get to that point where we now have a proper base of highly skilled people that we can use, we are going to populate the facility in so many other places. So, everybody keep asking me when are we establishing same facility in their state; I can do that, the equipment is not the problem, the problem is who will operate them. So, we are spending money on training people. I will love for this country to not have to worry about cancer. But unfortunately, it is the harsh reality of our existence today, but

How much savings do we have in the Sovereign Wealth Fund presently and looking at what has happened globally since the outbreak of the virus, what lessons do you think the country can draw from this in terms of saving into the SWF? So, the government has given us $1.75 billion and they have called $150 million. At a certain point we were between $2.1 billion and $2.2 billion of total assets. I will actually like to speak more to what the government has contributed, so at the end of the year, we will sit down and look at the returns. But all I can tell you is that it is a very comfortable entity and if you take out the $150 million the government has asked for, the governmentâ&#x20AC;&#x2122;s contribution is $1.6 billion. But in addition, there was an additional contribution of $30 billion, the $311 million recovered Abacha asset that was transferred to the NSIA. All of these are third party management, but they are contribution in a sense and are added to our assets under management. So, we have the NSIA-managed funds. There are about three of the third-party managed funds, which includes the contribution to the PIDF, which has been spent on the projects - of which thereâ&#x20AC;&#x2122;s about $900 million contributed by the government; later the Abacha funds of $311, which takes it to $1.2 billion and thereâ&#x20AC;&#x2122;s a money we are managing for the Debt Management Office and there is money we are managing for the federal government separately in naira, which is N30 billion. So, every country has been affected by this virus. This government of today has done more than I expected; because oil price collapsed and yet somehow, $750 million was contributed, out of which $150 million was taken back due to the recession and collapse in oil price. So, I think it is very important that we point that out. The lesson we are learning now is what we should have learnt between 1973 and 1974. In 1973/1974, the OPEC crises happened, the oil sector ballooned and the Middle Eastern countries started setting up Sovereign Wealth Funds in 1976/1978. Abu Dhabi and Norway set up theirs around that period. That was when people started saving. So, the truth about it is that this is something that should have done since the 80s. Those people that set up their SWF then are better prepared. So, where we are now, we just need to prepare ourselves for the future, to make sure that we are ready.

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

BUA Cement Appoints Piekarski CFO Goddy Egene BUA Cement Plc has appointed a finance professional with over 26 years experience, Mr. Jacques Piekarski as its chief financial officer (CFO) effective October 2, 2020. Prior to his appointment, he was Group CFO at TGI Group. Commenting on the appointment, the Chairman, BUA Cement Plc, Abdul Samad Rabiu, was quoted in a statement to have said: â&#x20AC;&#x153;The board is confident that Piekarskiâ&#x20AC;&#x2122;s broad experience, strong leadership capabilities and understanding of the industry will ensure that BUA Cement is well positioned to take advantage of available opportunities to drive improved operational performance and sustain our profitable growth trajectory.â&#x20AC;? In his comments, Managing Director/CEO of BUA Cement Plc, Yusuf Binji, said: â&#x20AC;&#x153;We are thrilled to welcome Piekarski to BUA Cement. Peikarski brings a wealth of experience to this role - both in the Nigerian cement industry and the African region as a whole. I am certain his skills and experience will make a significant contribution and continue to drive the company forward.â&#x20AC;? Over the course of his career, BUA Cement CFO has had significant achievements in setting-up or re-organising finance

departments, financing (loans, bond, rights issue, debt restructuring and re-financing), revenue and cost optimisation programs, various expansion and projects including ERP implementations, and controlling. He is known as a charismatic, results driven and dynamic leader, with a strong business acumen. Prior to joining BUA Cement, he was Group CFO for TGI Group Nigeria, one of the largest Food and Agri privately owned conglomerate in the country. He joined this role from Flour Mills of Nigeria where he was also Group CFO. Piekarski has also garnered an extensive knowledge of the cement industryform his time as the CFO for Holcim (today LafargeHolcim) in Egypt with a joint venture with the Orascom Group. In this role, he was actively involved in building-up the finance department, financing the plant expansion and monitoring its budget, implementing Holcim financial standards and a vast cost reduction program. During his tenure, the plant was the second largest single plant in the world with 8mt capacity. A Swiss and French National, Piekarski was born in Switzerland. He is a graduate from the Business School in Lausanne, Switzerland, and holds an MBA from the Robert Kennedy College, Zurich, Switzerland.

Minister Highlights Benefits of Tech Experience Centre Emma Okonji The Minister of Communications and Digital Economy, Dr. Isa Pantami has said the TDâ&#x20AC;&#x2122;s Tech Experience Centre, which houses global technology companies in Nigeria, will enhance Nigeriaâ&#x20AC;&#x2122;s relevance in the global technology race and shore up the countryâ&#x20AC;&#x2122;s march to technology independence. Pantami said this in Lagos recently, while unveiling the centre, put together by Technology Distribution Africa (TD), an arm of Zinox Group. For the first time, Nigeria, through the Tech Experience Centre, will play host to the latest global technologies including those not normally available in Africa, offering all

classes of visitors a first-hand experience of new gadgets, solutions and infrastructure that would have previously required a visit abroad, thereby saving corporate organisations, government establishments and individuals money or scarce foreign exchange expended on these trips. The Lagos State Governor, Babajide Sanwo-Olu, who was represented at the unveiling by the Deputy Governor, Dr. Obafemi Hamzat, commended TD for the initiative, which he said would further drive technology development in the country. Pantami and other dignitaries were conducted round the space of each Original Equipment Manufacturers (OEM), to see for

themselves the demonstrations of the various technologies in action. Also experienced was a gaming arena where visitors would be immersed in the latest Virtual Reality-aided games including the all-new PS5. Head of the Tech Experience Centre, Chidalu Ekeh, disclosed that more revolutionary innovations would be unveiled at the centre. She stated that the launch of the centre was a display of faith in Nigeria by global tech giants, adding that what is on ground is only the first phase of what she described as a â&#x20AC;&#x2DC;major investmentâ&#x20AC;&#x2122;. She said: â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;The Tech Experience Centre is a burning passion of TD Africa, sub-Saharan Africaâ&#x20AC;&#x2122;s technology, lifestyle and solutions distributor, nurtured over

many long, painstaking months and which has become a reality today. Also worth mentioning is the fact that this project is a declaration of faith by global tech leaders in Nigeria. Certainly, it was not a dream that came easy, especially considering the need to play by and comply strictly with the international rules of the global tech game. â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;This initiative is a major investment that will rub off positively on the Nigerian economy and I can confidently say that what is on ground already is the first phase of this massive project. Inside this edifice are three other floors that are yet to be occupied and conversations are still ongoing, with respect to other strategic partnerships with global tech giants to this effect.â&#x20AC;&#x2122;â&#x20AC;&#x2122;

Enugu Disco Reverts to Old Tariff The Enugu Electricity Distribution Plc (EEDC) said it has reversed to the old electricity tariff following an order issued by the Nigerian Electricity Regulatory Commission (NERC) for the power distribution companies to suspend the Multi Year Tariff Order (MYTO) 2020 for a period of 14 days. The suspension order is from September 28, 2020 to October 11, 2020. The Order, which was signed by NERC Chairman, James Momoh and Commissioner, Legal, Licensing & Compliance, Dafe Akpeneye, was in compliance with a joint communique issued by the federal government and the labour Unions, where it was agreed that the recently reviewed tariff be suspended by the Commission for 14 days to further consult and finalize negotiations between the parties. According to a statement issued by the Head of Corporate Com-

munications, EEDC, Mr. Emeka Ezeh, the Disco has already complied with the directive. â&#x20AC;&#x153;With this development, prepaid customers of EEDC who experienced immediate impact of the reviewed tariff during their recharge between 28th to 30th September, 2020, the difference between the reviewed tariff and old tariff for the three days will be credited to the customers wallets, which they can use to recharge their meters in future; while for the remaining 11 days (1st to 11th October, 2020), all vending activities will be at the old tariff. â&#x20AC;&#x153;In the same vein, for postpaid customers, the difference between the reviewed tariff and the old tariff for the 14 days period will be computed and credit adjustment effected for the affected customers (that is crediting their respective accounts with the difference),â&#x20AC;? he explained.

Affordable Cars Celebrates Silver Jubilee In commemorating its 25th Anniversary, Affordable Cars, an automobile dealership in Lagos is offering its customers a â&#x20AC;&#x153;special anniversary packageâ&#x20AC;? on sales and services from October 1st till December 31st, 2020. The company which has been providing unique services to its numerous customers since its inception in 1995, is offering a 25 per cent discount on car maintenance service as well as free detailing, diagnostics, wheel balancing, and alignment. The purchase of new vehicles from its Lekki and Ikeja showrooms would also attract a one year free routine maintenance service, according to a statement.

Affordable Cars has provided its customers with quality cars from various brands such as Toyota, Lexus, Land Rover, KIA, Mitsubishi, and Mercedes Benz with their customer base which includes corporate organizations, government parastatals, and private individuals. Speaking about the anniversary, the Managing Director, Mr. Biola Ayeni, thanked God for the milestone and stated that the companyâ&#x20AC;&#x2122;s success was based on its core values â&#x20AC;&#x201C; Excellence, professionalism, customer-friendly, integrity, and passion. They will be instrumental as the company continues to build first-class multi-brand auto dealership in Nigeria.

INDEPENDENCEDAYSALES

L-R:SalesExecutive,MikadoNigeriaLtd,AdebogunFunmi;MarketDeveloper,AirtelNigeria,KehindeQudus;SalesExecutive,Guinness,PerfectionOsoh,and YeloArmyAgent,MTNNigeria,SamsonEmefiele,attheOshoditransportinterchangeindependencedaysaleseventheldinLagos...recently ETOP UKUTT

Elin Group Gets AOC, Set to Commence Flight Charter Operations Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) has issued Operational Specifications and Air Operatorâ&#x20AC;&#x2122;s Certificate (AOC) to Elin Group Limited, after the company met all the requirements to commence charter operations. In a brief ceremony held in Lagos at the weekend, NCAA presented Elin Groupâ&#x20AC;&#x2122;s Chief Operating Officer/Accountable Manager, Mr. Enyi Omoke the certificate to start flight service. Speaking at the event, the representative of NCAAâ&#x20AC;&#x2122;s Director General, who is also the Director of Airworthiness Standards

and Chairman of Flight Safety Group (FSG), Kayode Ajiboye, congratulated Elin Group Limited for successfully completing the regulatorâ&#x20AC;&#x2122;s onerous audit and for displaying the highest level of professionalism, and discipline in the course of securing the AOC, while urging the airline to remain exemplary. According to the General Manager, AOC/Surveillance, Godwin Balang, â&#x20AC;&#x2DC;â&#x20AC;&#x2122;It wasnâ&#x20AC;&#x2122;t easy at all. This strict process sometimes takes many years to get but it took Elin Group less than two years to achieve. This is the first good step and maintaining it is the second part. You must keep

your eyes on the ball and keep the safety standardsâ&#x20AC;&#x2122;â&#x20AC;&#x2122; The Chief Executive Officer of Elin Group Limited, Mrs. Elizabeth Jackrich, thanked the Nigerian Civil Aviation Authority for the objective, professional and thorough manner in which it conducted the certification process. â&#x20AC;&#x2DC;â&#x20AC;&#x2122;It has been a painstaking journey of hard work, prayers and sleepless nights and I want to thank my team for being professional all through the process. I also wish to assure you of our commitment to adhere strictly to safety standards, and global best practices as recommended by the Nigerian Civil Aviation

Authority (NCAA). My first love is humanity and I want to work hard to support humanity.â&#x20AC;&#x2122;â&#x20AC;&#x2122; she added. The airline with a young fleet of Challenger 604 and AW109E aircraft recently signed a firm purchase agreement for three Dash8-400 aircraft to further expand its operations and support Nigeriaâ&#x20AC;&#x2122;s resource sector, particularly oil and gas operations. Elin Group Limited is a growing privately owned conglomerate with diverse business interests in real estate development, power generation, agricultural development, gas utilization mining operations.

APCON, KSUBLA Strengthens Partnership to Boost Outdoor Advertising Raheem Akingbolu As part of its commitment to deepen its relationship with key stakeholders in the advertising industry, the Registrar/Chief Executive of Advertising Practitioners Council of Nigeria (APCON), Dr. Olalekan Fadolapo, has made a courtesy call on the Director General, Kano State Urban Beautification and Landscaping Agency, Alhaji Abdallah T. Ahmed.

The APCON Registrar said his visit was to explore areas of common interest for greater synergy between the two regulatory agencies. He stated that the primary responsibility of APCON was to ensure that advertising comply with global best practices and ethical standards in order to resolve common challenges bedeviling the sector. â&#x20AC;&#x153;We seek effective collaboration and partnership

with all stakeholders for the establishment of sound ethics and professionalism in the Integrated Marketing Communications Industry,â&#x20AC;? he added. He pledged APCONâ&#x20AC;&#x2122;s commitment to collaborate with KSUBLA in order to harmonise all areas of mutual interests to guard against unethical practice. â&#x20AC;&#x153;It is pertinent to point out that this bold initiative if taken seriously, will in no small

measure, create an avenue to generate more revenue for the state,â&#x20AC;? Fadolapo said. Responding, Ahmed congratulated Fadolapo on his appointment. He expressed appreciation to the Registrar for making out time to pay the state agency a visit. He assured the APCON team of his commitment and support to work closely and assiduously to sanitize the business of Advertising in the State by getting rid of charlatans.

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

AFCFTA: Rules of Origin Negotiations at Concluding Stage Nume Ekeghe The Acting Director General of the Nigerian office of Trade Negotiations, Liman Victor Liman has said that his office has negotiated and almost concluded the rules of origin to pave way for Nigeriaâ&#x20AC;&#x2122;s ratification of the African Continental Free Trade Agreement (AfCFTA). Liman disclosed this on the sidelines of a meeting with the Visiting Secretary General of AfCFTA, Mr. Mene Wamkele to Lagos, recently. Rules of origin is the criteria needed

to determine the nationality of a product that could make or break the AfCFTA process. He said: â&#x20AC;&#x153;We have made a lot of progress and as today, we have negotiated and almost concluded the rules of origin to pave way for Nigeriaâ&#x20AC;&#x2122;s ratification of the African Continental Free Trade Agreement.â&#x20AC;? Liman added: â&#x20AC;&#x153;As part of the agreement, It is proposed that â&#x20AC;&#x2DC;Value addâ&#x20AC;&#x2122; should be between 30 and 45 per cent.â&#x20AC;? Liman further said the COVID-19 pandemic prevented parties from going on with

physical negotiations. He said: We may never be completely ready but we have engaged thoroughly to ensure that people understand the agreements.â&#x20AC;? The AfCFTA Secretary General in his remarks noted that the secretariat has been listening to stakeholders and getting the views of what they expect from the agreement. Wamkele said:â&#x20AC;? It is Africa last opportunity to integrate our Market to ensure predictability and certainty of our market. We need to make sure that we

place Africa on the value-added economies and eventually it will get to intellectual property rights and electronic payments. â&#x20AC;&#x153; Wamkele also hinted that they are discussing with Afreximbank for the payment and settlement platforms without any currency convertibility or asking people to go through correspondence bank outside Africa. â&#x20AC;&#x153;We want to integrate women in trade, SMEs, Young Africans because if the agreement benefit only the big multinationals, it will not succeed.â&#x20AC;? he added. Similarly, the Executive

Chairman/CEO, BUA Group, Abdulsamad Rabiu expressed excitement and readiness to work towards the implementation and success of the AfCFTA while receiving the Secretary General of the AfCFTA, Wamkele Mene. He said due to the poor implementation of regional trade agreements, there was a high level of distrust amongst Africa nations, despite their support for AfCFTA. He further said: â&#x20AC;&#x153;A situation where people cannot move goods produced in African

countries where over 90 per cent value has been added to other African Countriesâ&#x20AC;?. In proffering solutions to the problems, Rabiu said for the AfCFTA integration to be successful, there must be free movement through liberalised air travel, operations, and visafree regimes across the Africa continent for businesses and individuals. He also said private sector players must be invited by the Governments of Africa to discuss the way forward for sustainable investments and partnerships.

NAICOM Creates Digital Portal to Drive Insurance Sector Ebere Nwoji The National Insurance Commission (NAICOM) said it has successfully put in place a real-time digital platform that will drive activities in the insurance sector. According to the commission, the portal, which was in the works for six years, was finally concluded recently as part of ongoing reforms by the current management of the commission. Disclosing this at a media retreat organised by the commission at the weekend for journalists in Uyo, Akwa Ibom state, the Commissioner for Insurance, Mr. Sunday Thomas, said, over time, the management had been able to stabilise the commission through the cooperation of staff. He said the new portal is such that wherever anybody is in the world needs information on the nationâ&#x20AC;&#x2122;s insurance sector, it would be available to him at the click of a button. â&#x20AC;&#x153;We will be looking at the digital world. Part of what we have done so far is the fact that our portal that was on the drawing board for over six years has been fixed. It is taking us from where we are to the next level. â&#x20AC;&#x153;We have sensitised the technical people in the industry and they have been going through series of trainings. â&#x20AC;&#x153;The next thing we are going to do is to engage the industry with IT guidelines. It is no longer going to be historical reporting,â&#x20AC;? Thomas said. He said the commission would take advantage of the recent confidence President Muhammadu Buhari reposed in the insurance sector. â&#x20AC;&#x153;It is not by coincidence that we are having this conference today that we are marking 60th anniversary as a nation. â&#x20AC;&#x153;We want to be seen the way we are so we know where to

make amends. NAICOM is an agency of the federal government and has the responsibility to make some impact on the economy. We will continue to relish the presidentâ&#x20AC;&#x2122;s appreciation of the industry.â&#x20AC;? Acknowledging that the investment climate was tough, Thomas, said the commission was determined to make a difference as there will be no hindrance to information dissemination. â&#x20AC;&#x153;If there is a need for change let us know and if there is a need for me to explain I will not hesitate to do that. We have challenges ahead of us but we are determined to overcome those challenges. â&#x20AC;&#x153;We try as much as possible to let investors, government and stakeholders into our programmes. â&#x20AC;&#x153;The terrain is tough but we are determined to succeed. Nigeria is not by accident the largest economy in Africa. We must take advantage of the population. There are a lot of things to fast track the process. The digital world will drive regulation,â&#x20AC;? he pointed out. Speaking on the commissionâ&#x20AC;&#x2122;s commitment towards driving the compulsory insurance policy, Thomas, said it was not enough to sit in Abuja and expect the process to succeed. He said it was on this ground that he took out time recently to visit the Chairman of Nigerian Governorsâ&#x20AC;&#x2122; Forum (NGF) and Ekiti State Governor, Mr. Kayode Fayemi, to prevail on his colleague governors to assist in driving the compulsory insurance policy. He said promoting the compulsory insurance was one of the objectives the commission set to achieve with the market development initiative.

BRANDAMBASSADOR

Managing Director,Promasidor Nigeria Ltd,Anders Einarsson (left) andTiwa Savage,during the signing of the artist as the Brand Ambassador forTwisco, a product of Promasidor, at the official unveiling of the Chocolate Powder Drink in Lagos...recently

FG Empowers 333,000 Artisans Nume Ekeghe The federal government has started offering financial aids and support to artisans and transport workers across Nigeria through its N75 billion MSME Survival Fund. A total number of 333,000 artisans and transport business operators begun to receive N30,000 grants through the Artisan and Transport Support Scheme which commenced simultaneously recently across all the geopolitical zones in Nigeria. The grant which is under the MSME Survival Fund under the Nigeria Economic Sustainability Plan was formed by the federal government in July 1, 2020 to

assist citizens and businesses operating in Nigeria. The first phase of the Artisan/ Transport Support Scheme would focus solely on 333,000 artisans for a start, which is 9009 from all the 36 states and the FCT and would then move to businesses operating in the transport sector at a later date. The Vice Chairman of the Steering Committee for Nigeria Economic Sustainability Plan, Mrs. Ibukun Awosika, during the commencement of the scheme in Lagos, recently, stated that it was aimed at providing soft landing for small businesses in Nigerians who have had their businesses disrupted from the Covid-19 pandemic.

Awosika who is also the Chairman of First Bank of Nigeria, moved on to announce that the government would directly work with artisans who are members of registered trade associations in their respective States, adding that its process would assist the funds to reach the required beneficiaries. She explained: â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s true that the evaluation process is simple. However, we will depend very much on the participation and honesty of the associations in ensuring that those who are qualified are the ones who are supported through the registration process.â&#x20AC;? Awosika urged artisans in their respective associations to have account numbers, saying

it would help to simplify the process. While explaining the implementation schedule for the scheme, the Managing Director, Bank of Industry, Mr. Kayode Pitan announced that the support scheme which splits the 36 states of the federation into three streams would hold from October 1, to November 21, 2020. In order to ensure that women get a fair of the fund, Pitan made it clear that 45 per cent has been apportioned to women across the 36 states of the country. Also, he added that five per cent had been reserved for those with special needs across the federation.

Honeywell Focused on Building Sustainable, Growing Business, Says Otudeko Honeywell Flour Mills Plc (HFMP) has said it will continue to focus on building a sustainable and growing business at the heart of the Nigerian food industry. The company also stressed that it would continue to maintain a strong position in current product categories and implementing a developmental agenda in the indigenous carbohydrates segment. These assurance were given by the Chairman, Honeywell, Dr Oba Otudeko during the companyâ&#x20AC;&#x2122;s 11th Annual General

Meeting (AGM) which took place in Lagos, recently. He also assured stakeholders that the company would continue to invest in growth opportunities and platforms, particularly those that would improve Nigeriaâ&#x20AC;&#x2122;s agricultural productivity. In his message to shareholders, Otudeko stated that, the company would continue to pursue long-term shareholder value maximisation through balanced top-line and bottom-line growth by focusing on categories

and regions where the company has the ability to win and grow market share. â&#x20AC;&#x153;We will actively manage our product portfolio and prioritise our investments to stay relevant, address the latest consumer trends, and win in every category and market we operate in,â&#x20AC;? a statement quoted him to have said. Speaking on some of the measures the company had employed to increase the size of local content in its operations, Otudeko maintained that, â&#x20AC;&#x153;We

have expanded our scope beyond substituting edible raw materials with locally available inputs, to sourcing and working with local suppliers to produce critical manufacturing inputs and spares that were previously imported. â&#x20AC;&#x153;We are convinced that this will contribute in no small measure to saving foreign exchange expense while developing the capacity of local suppliers.â&#x20AC;? Also speaking ahead of the AGM, Managing Director of the company, Lanre Jaiyeola, assured

shareholders that HFMP remained committed to transforming the carbohydrates food industry by providing affordable foods to a fast-growing population, saying, â&#x20AC;&#x153;Our outstanding range of food products, including our pastas, noodles, and ball foods, continue to define the Nigerian dining table. Looking to the future, we will focus on creating category-defining food products that appeal to the domestic palate, using local sources of carbohydrates to deliver innovative packaged-food formats.â&#x20AC;?

In the financial year ending March 2020, the companyâ&#x20AC;&#x2122;s revenue increased by eight per cent to N80.5 billion, total assets rose by three per cent to close at N142.3 billion, while the company recorded a gross profit margin of 17 per cent. Operating profit increased by 49 per cent to N5.5 billion, reflecting effective cost control that takes advantage of revenue growth. In line with the improved financial performance, the board recommended the payment of four kobo per share as

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

UBAEnhancing SME Growth in Africa

Verve Card: Demystifying Payment Card Raheem Akingbolu writes on the growth and challenges facing both operators and consumers in the e-Commerce market, pointing out that the localization of the Verve card has not only demystified payment card ownership but has created a new experience in Nigeria

Uzoka

Maduabuchi Ubani The importance of SMEs to the growth and development of any economy cannot be over-emphasised as they are known to be the engine of any developing economy. Importantly, these small businesses which are the core of entrepreneurship in any economy remain the starting point of development towards industrialisation. It is also interesting to note that most of the current larger enterprises which exist today have their origin in small and medium enterprises. In the same vein, SMEs create jobs, promote stability and development of sub-economies. Owing to this, SMEs which function as the fulcrum of economic development, warrants the attention of all, principally that of government agencies, financial institutions and development agencies. In realisation of the importance of this key sector, Pan-African financial institution, United Bank for Africa (UBA), has committed enormous resources towards supporting SMEs not only in Nigeria but across Africa. The Group Managing Director, UBA, Kennedy Uzoka, said that the bank recognises the roles that the financial institutions should play in the economic development of Africa, and has called for increased support to these SMEs and entrepreneurship, which according to him are a catalyst towards creating jobs and fighting against poverty on the continent. â&#x20AC;&#x153;This is therefore, why UBA is totally aligned with, and is fully committed to supporting these small businesses through the development of several products tailored towards assisting them to procure the much-needed capital and technical know-how required to successfully run their businesses,â&#x20AC;? Uzoka noted. Bearing this in mind, the bank created the UBA SME Account, structured to providing low interest facility among other benefits critical to the survival of emerging businesses. UBAâ&#x20AC;&#x2122;s Group Head, Consumer and Retail Banking, Jude Anele said: â&#x20AC;&#x153;Building a successful business requires the right support and baring this in mind, UBA as a financial institution of choice has gone all the way to provide financial products and services specifically designed to help businesses thrive. Some of the benefits tied to the UBA SME Account include; fixed monthly charges, access to business loans; access to UBA SME capacity building and advisory platforms. â&#x20AC;&#x153;Other benefits to small businesses are onboarding on digital collections and payments channels, access to SME Masterclasses, access to SME annual Summit and Fairs as well as free online shopfront on the UBA Market place,â&#x20AC;? Anele explained. To further address the challenges faced by SMEs in acquiring critical assets necessary for their operation, the bank also introduced a product known as UBA SME Asset Finance Loan. This is a loan package which comes with up to N50m for a period of three years particularly to assist small businesses acquire more assets or expand their businesses.

Anele added that UBA offers e-Commerce Solutions which provides free and unlimited access to millions of customers around the globe, thereby connecting buyers to sellers wherever they might be. â&#x20AC;&#x153;In its totality, UBAâ&#x20AC;&#x2122;s offerings are targeted at retail merchants and general commerce operators, self-employed professionals, entertainers, start-ups, tech-entrepreneurs and artisans,â&#x20AC;? he explained. The bank has also provided a digital banking for business platform for SMEs and entrepreneurs where these businesses are provided with reliable and convenient ways of receiving money for goods and services bought through the use of the bankâ&#x20AC;&#x2122;s cash management and transaction banking platform. Some of these digital platforms include the UBA Self Service Moneytor - an end-toend solution that completely automates the processes for business owners; UBA Business Direct- an online portal for cash management and transaction banking and MCash - a USSD solution designed to allow UBA Merchants to conveniently receive payments from their customers without actually handling cash. UBAâ&#x20AC;&#x2122;s Group Head, Marketing & Customer Experience, Michelle Nwoga, who expatiated on UBAâ&#x20AC;&#x2122;s support to SMEs and small businesses said the bank also organises monthly and quarterly SME Capacity Building initiatives which come in the form of seminars that are thrown open to all business owners and leaders across Nigeria. Through the capacity building programmes, these SMEs are afforded the rare opportunity to ask any questions relating to their businesses and get immediate solutions from seasoned professionals who know their onions. While reiterating the importance of the capacity building initiative Nwoga said, â&#x20AC;&#x153;These workshops are aimed at exploring the weaknesses in financial management and structure for SMEs. These initiatives touch on various issues of interest for small businesses and tries to address the challenges which these business owners face in the day-to-day running of their companies.â&#x20AC;? Because SMEs are a key element in achieving the growth and employment target of any economy, UBA which is a vision-driven financial institution has put in place various motions to help identify their needs and assist towards providing the necessary financial back-up for these businesses in their teething stages to help them actualize their potentials. United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers, across over 1,000 business offices and customer touch points, in 20 African countries. With presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.

Among other opportunities, the cashless economy which has recently become a global affair, has redefined Nigerian purchasing and spending habits over the years. Of course, it has also continued to deepen operations in the financial sector as the banking public and consumers of insurance products now do more online transaction than physical appearance in the operational offices. Like in every new thing, embracing eCommerce as alternative shopping experience was, at the beginning, tough for Nigerians In the last few years, both the operators and consumers have recorded both their good and low moments. While it has eased the mode of transaction, there have also been stories of scammers and attacks on delivery agents. Today, despite the hitches, it is obvious that consumers who buy into the system are growing in folds every day. Trust has not only been built, but many Nigerians have also seen it as the easiest way to shop The card regime and the early challenges A few decades ago, Nigerians, being big consumers, were not inclined to paying for goods and services with debit cards. The norm then was to withdraw cash from banking halls and pay cash for those goods and services. This process changed, with banks issuing debit/credit cards to their customers who are then enabled to make withdrawals outside banking halls on automated teller machines (ATMs). Over the years, these customers have further evolved from enjoying the convenience of not queuing in banking halls, to embracing digital payment. Perhaps because it is more convenient, efficient and safer, consumers were quick to adjust to the new regime. The issuance of payment cards has also evolved so much so that they are no longer issued by the financial institutions alone, other service providers such as petrol stations, retail stores and e-commerce platforms now offer own payment cards to their customers. Beyond payments, these cards are being used for identification, to gain access to buildings and credit facilities. And in specific cases, payment cards can be used for voting. These digital payment tools have changed how we see payments, carry out transactions and forced us to rethink money. Increasingly, money has evolved from being just physical cash to value stored virtually and spent electronically. Card revolution Today, ATMs are seen at multiple corners across the nation, PoS terminals are held at the checkout counters of thousands of stores and more banking customers carry cards rather than cash in their wallets. Before Verve, international card schemes dominated Nigeria, and there was a gap in the market for a domestic card scheme specifically tailored to the local consumer. In 2009 when Interswitch introduced the Verve card to the Nigeria banking community, it aimed to provide payment cards for Nigerians across all strata. The introduction of the Verve card demystified payment card ownership in Nigeria. With a promise of affordable transaction fees, competitive maintenance fees, flexible pricing regime and wider acceptance, Verve placed a debit card in the hands of every willing Nigerian. True to the companyâ&#x20AC;&#x2122;s brand promise of providing wider acceptance, Verve, in becoming the key to African exchange expanded its acceptability beyond Nigeria to 21 other Africa countries. To unbound its cardholders, and enable them make seamless payments at their favorite destinations across the globe, the Verve Global card was introduced and it is now accepted in over 185 countries including US, UK, UAE and South Africa, wherever the Discover, Diners Club International, Pulse and Verve logos

Elegbe are displayed. Verve GoodLife Promo Consistent with its tagline as the rewarding way to make payments, Verve, has launched the GoodLife Consumer Promo to reward over 2,550 Verve cardholders nationwide for their loyalty, with over N27 million in cash and airtime. According to the company, the Verve GoodLife Promo aims at enabling new and existing Verve cardholders live the good life, whatever that good life may mean to them. The promo reiterates the brandâ&#x20AC;&#x2122;s commitment to providing seamless, reliable and secure payment solutions for its cardholders every time they use their Verve cards across payment channels such as ATM, PoS and Web or at agent banking centres. Beyond meeting cardholdersâ&#x20AC;&#x2122; payment needs across safe and convenient platforms, the Verve GoodLife Promo seeks to help alleviate the suffering imposed by the COVID-19 pandemic on Nigerian citizens and its cardholders. It is expected that families and individuals will find some respite from the ravages of the pandemic, with the winnings from the promo. The Verve GoodLife promo is billed to run for 12 weeks, staring from September 1, to November 29, 2020 with weekly draws, monthly draws and a grand prize draw. To participate in the promo, cardholders are expected to make increased transactions across various Point of Sale (PoS) terminals, ATM, Web and at agent banking centres. For the weekly draws, cardholders are expected to transact with their Verve card at least 3 times weekly; for the monthly draws, cardholders are to transact with their Verve cards at least 12 times monthly to qualify. For the grand prize, cardholders are to transact with their Verve cards at least 36 times within 12 weeks to qualify for the grand prize draws where 2 cardholders will win N1 million each. Speaking on the promo, the Group Chief Marketing and Communications Officer, Interswitch Group, Cherry Eromosele, reiterated the brandâ&#x20AC;&#x2122;s commitment to reward Verve cardholders for their loyalty. She said: â&#x20AC;&#x153;Beyond our commitment to provide Verve card holders with seamless, reliable and secure payment solutions, both locally and internationally, we currently identify with their challenges, especially as occasioned by the pandemic. Therefore, we desire to play a part in alleviating these. This has informed the introduction of the Verve Good Life Promo. During the 12 weeks of the promo, we will be rewarding over 2,500 Verve card holders nationwide with over N27 million naira in cash and airtime.â&#x20AC;? The CEO added.

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

IMAGES

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

Photo Editor Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039; Email Ă&#x2039;Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC;Ë&#x203A;Ă&#x2039;Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;

L-R: Heads of Civil Service of the Federal Dr Folashade Yemi-Esan confers with the Chief of StaďŹ&#x20AC;, Prof Ibrahim Gambari during a virtual FEC Meeting held at the Council Chambers State House Abuja...recently PHOTO: STATE HOUSE

Kwara State Governor AbdulRahman AbdulRazaq taking the lead in cutting of grass at Mount Carmel College Ilorin, the state capital, ahead of school resumptions...recently

L-R: Representative of Civil Liberties Organization, Enugu State, Comrade Kindness Jonah; Executive Director Daniel Ukwu Leadership Foundation (DULF), Mr Nkemakolam Ukwu; and Chairman, Peopleâ&#x20AC;&#x2122;s Progressive Party, Enugu State, Chief Nobert Okolo, during a press conference on leadership challenges as Nigeria marks 60th Independence anniversary, in Enugu...recently

L-R: The Representative of the Emir of Bauchi, Sarkin Makarantan Sarkin Bauchi, Alh. Ibrahim Mohammed Aminu; HRH the Shehu of Borno, Alh. (Dr) Abubakar Ibn Umar Garbai Elkanemi; and Vice-Chancellor, Federal University, Gashua, Prof. Andrew Haruna, during a visit to the palace of the Shehu of Borno in Maiduguri... recently

Vice President Yemi Osinbajo SAN delivers keynote remarks at Nigeria Leadership Initiative webinar series themed: Rebuilding our National Values System in Abuja...recently PHOTO STATE HOUSE

L-R: Managing Director, Promasidor Nigeria Ltd, Mr Anders Einarsson, Nigerian Star Actress/Singer, Tiwa Savage and Marketing Manager, Promasidor Nigeria Ltd, Mr Abiodun Ayodeji during the unveiling of the Actress as Brand Ambassador of Twisco Chocolate Powder Drink launched in Lagos...recently

L-R: Chairman, Lagos State Chapter of the Nigerian Institute of Public Relations, Mr. Segun Mcmedal, Chief of StaďŹ&#x20AC; to the Governor of Lagos State, Mr. Tayo Ayinde and Permanent Secretary, Ministry of Information and Strategy, Lagos State, Mr. Sina Thorpe during a courtesy visit to the Chief of StaďŹ&#x20AC; by the NIPR, Lagos Chapter in Lagos...recently

L-R: President, University of Ibadan, Alumni Association Worldwide (UIAA), Prof Elsie Adewoye; Chief Executive OďŹ&#x192;cer, First Bank of Nigeria Ltd, Dr. Adesola Adeduntan; Vice Chancellor, University of Ibadan, Prof. Abel Idowu Olayinka, at the University of Ibadan alumni association annual lecture held in Ikoyi, Lagos... recently PHOTO: ETOP UKUTT

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

CITYSTRINGS

Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x161; Ă?Ă&#x2039;Ă&#x17E;Ă&#x;Ă&#x153;Ă?Ă? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153;Ë? Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă? Ă¤Ă?Ă&#x2122;Ă&#x152;Ă&#x201C; Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă?Ë&#x203A;Ă?Ă¤Ă?Ă&#x2122;Ă&#x152;Ă&#x201C;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;Ë&#x153; Í&#x2018;Í&#x2122;Í&#x2018;Í&#x201D;Í&#x2122;Í&#x161;Í&#x2018;Í&#x2019;Í&#x161;Í&#x201C;Í&#x2013;

THE INDEPENDENCE EDITION

Examining the Nigerian Militaryâ&#x20AC;&#x2122;s Chequered History Undoubtedly, the Nigerian military battles multiple security challenges like insurgency, banditry, oil theft and poor funding, as well as human rights issues. In light of the just celebrated 60th Independence Anniversary of Nigeria, Kingsley Nwezeh looks at the history, development and the state of the military establishment since independence

he Nigerian military establishment has had a chequered history. For a military reputed for its exploits in military campaigns dating back to World War II, Congo crisis, participated in many United Nations peace-keeping operations across the globe and received accolades, it is an unusual time. For a military noted for its contributions towards ending the war and the restoration of democratic rule in Sierra Leone, Liberia and The Gambia, ranked third most powerful military in Africa and 43rd most powerful military in the world, these are not the best of times considering the huge challenge of insurgency war in the North-east, banditry in the Northe-west, among other security challenges, the end of which is not in sight. History The history of the Nigerian Armed Forces could be traced to three colonial military units. The first unit, Glover's Hausas was established in 1862 by Captain John Glover to defend Lagos. Glover's Hausas was made up of soldiers from Northern Nigeria. The second unit was the Royal Niger Company Constabulary set up in 1888 to protect British interest in Northern Nigeria. It also played the role of providing internal security in northern Nigeria. The company Constabulary formed the core of the Northern Nigeria Regiment of the West Africa Frontier Force (WAFF). The third unit, known as the Oil Rivers Irregulars, was created in 1891 and later designated the Niger Coast Constabulary predominantly Igbos and formed the Southern regiment of the West African Frontier Force (WAFF). In 1928, WAFF was renamed the Royal West African Frontier Force (RWAFF) and expanded to six battalions from four to serve in the north and south with major installations in Sokoto, Kano, Zaria, Kaduna and Calabar. During the World War 11, Nigerian Army expanded to 28 battalions which served outside Nigeria as part of the Allied War effort. After the war, RWAFF returned to its primary functions of internal security, police actions, punitive expeditions, collection of taxes, tackling local disturbances and breaking strikes. The experience garnered in World War II led to the establishment of a two-brigade system for combat support and combat service support. In 1956, the Nigeria Regiment was renamed the Nigerian Military Forces, and in 1958 the

colonial government assumed control. In 1960, when Nigeria gained her independence, there were 82 Nigerian officers, mostly Igbos, while the soldiers were predominantly Hausas or military personnel from the North. Military Intervention in Politics and Wars With the coming of the military via the 1966 coup and the counter coup in July 29 of the same year stemming from political crisis in 1964, the military remained in power until 1999 with an interval of four years of democratic rule between 1979 and 1983. The military also fought a bloody three-year civil war to keep the nation together with colossal loss of lives. In the mid 80s and 90s, the Ibrahim Babangida and General Sanni Abachaled regimes deployed Nigerian troops under ECOMOG to fight wars in Liberia and Sierra Leone restoring democratic rule in both countries with incalculable losses in terms of men and materials to Nigeria. The military high command in 2017 deployed a war ship in the Gambia that helped force former President Yahya Jammeh out of power and Gambia after refusing to leave office, having lost the presidential election. Expansion/Weaponry As a modern 200,000 strong military, the Nigerian Army, Nigerian Navy and Nigerian Air Force have continued to engage in capacity building initiatives, including training of special forces both foreign and local, training of pilots including female pilots, technicians engaged in repair of aircraft and other military equipment. Speaking recently, the Chief of Air Staff, Air Marshal Sadique Abubakar, reviewed the exploits of the Nigerian Air Force (NAF) since inception in 1964 and declared that the organisation has acquired the ability to conduct multiple air strikes when compared to the past. Abubakar, who spoke at an occasion in Abuja to celebrate the organisationâ&#x20AC;&#x2122;s 56th anniversary, said the NAF had made substantial progress, especially in the deployment of air power. He recalled that in the 60s, bombs were rolled out from the aircraft cabin with bare hands but over the years it had acquired the capacity to attack enemy locations in the North-east and other flashpoints in the country at the same time. Global Military Ranking The 2018 and 2019 Global Military

Strength Ranking puts Nigerian military at No. 43 ahead of such European nations as Belgium, Portugal and the Carribbean nation of Cuba. A global military ranking institution, Global Fire Power (GFP), citing United States' Central Intelligence Agency (CIA) Fact Book credits Nigeria with 181,000 total military personnel (other sources say 250,000) , 172, 400,000 available manpower from a population of 190 million. That is to say that at any time, the country could draw from available manpower especially in war times. Those fit for service stands at 40, 710,000 while citizens reaching military age stands at 3, 456,000. Out of the total military personnel, 124, 000 are active(other sources say 162,000) while 57,000 are reserved. Nigeria's total aircraft strength is 124, with 9 fighter aircraft, 21 attack aircraft, 52 transport aircraft, 47 trainer aircraft with a helicopter strength of 43 and 11 attack helicopters. The Chief of Air Staff, Air Marshal Sadique Abubakar said recently 30 aircraft were purchased in the last three years in addition to the controversial 12 Tukano fighter planes acquired recently from the United States when they are delivered. The Nigerian Air Force deployed fighter planes that flew over 30,000 hours in the north-east in the last one year, while the navy has since established a base in Baga, around Lake Chad in a joint effort to neutralise terrorist group, Boko Haram and the Islamic State for West African Province (ISWAP). The GFP ranking also credits Nigerian Army with 148 combat tanks, 1,420 armoured fighting vehicles, 25 selfpropelled artillery, 339 towed artillery and 30 rocket projectors. Nigeria's total naval assets stands at 75 with four frigates and 93 patrol craft. The navy recently acquired 300 patrol boats to boost its arsenal. There were also recent purchases of battle tanks by the federal government to boost the military's war against insurgency in the North-east. Promotions/Staff Welfare/Housing In spite of the challenge of insecurity faced by the military establishment, the military high command has ensured regular promotions for the rank and file. The military has also had female officers, who rose to the rank of Rear Admiral and Major General. Presently, there are female officers on the rank of Brigadier-General and Commodore. Some personnel (Army) who spoke

to THISDAY anonymously maintained that they have never had it so good in terms of remuneration and other favourable welfare packages. "Buratai has done well for us. We now retire earning the same salary while in office as pension", an army officer said. The service chiefs have also embarked on the commissioning of several housing schemes across the country for personnel to the point that the three services have housing and construction companies set up to build houses for military personnel and the civilian population. For instance, the Naval Building & Construction Company Ltd is presently selling to the public lands and houses at the Navy Estate Phase II, Karshi, Abuja. The Lagos State government recently granted approval for the company to construct 800 housing units in Badagry, Lagos State. Insecurity/Human Rights The military today is facing multiple challenges of insurgency, armed banditry, piracy, poor funding among others. It has been argued severally that military personnel and resources are overstretched by the reason of having its hands in many pies including areas of internal security traditionally handled by the Nigerian Police. More than 20,000 people have so far been killed since the commencement of hostilities in the North-east including close to 1000 soldiers or more even as it battled armed bandits in other theatres of war in the North-west and North-central. The military also faces human rights issues especially extra-judicial killings. Two international human rights groups, the Human Rights Watch and Amnesty International (AI) have severally accused it of involvement in extra-judicial killings in the North-east and South-east. A case in point is the recent massacre of 23 members of the Indeginous People of Biafra (IPOB) in Emene, Enugu. Amnesty International had also accused the military of killing 150 members of the group in the past. The human rights issues taking seriously by Western arms manufacturers have also hampered the sale of needed military equipment to Nigeria to contain insurgency and other challenges of insecurity. In essence, as Nigeria celebrates its 60th independence anniversary, the federal government needs to plug the loopholes that gave rise to multiple challenges of insecurity which has also dimmed the image of the military establishment.

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

CRIME&SECURITY THE INDEPENDENCE EDITION

The Labour of Our Heroes Past Chiemelie Ezeobi writes that in line with its long standing tradition, which has been further prioritised by this administration, the Nigerian Air Force while marking the 60th independence anniversary of Nigeria, chose among thing to immortalise its fallen heroes

Late Flying OďŹ&#x192;cer Tolulope Arotile The Permanent Secretary, Ministry of Defence, Alhaji Babangida Husseini and the Chief of the Air StaďŹ&#x20AC;, Air Marshal Sadique Abubakar, ďŹ&#x201A;anked by others at the memorial for fallen heroes

At the launch of the two books in memory of Nigeriaâ&#x20AC;&#x2122;s ďŹ rst female Combat Helicopter Pilot, late Flying OďŹ&#x192;cer Tolulope Arotile by the â&#x20AC;&#x2DC;I Choose Lifeâ&#x20AC;&#x2122; Foundation (ICLF), a non-governmental organisation

he 10th stanza of the National Anthem reads thus; 'the labours of our heroes past, shall never be in vain'. Borrowing a leaf from that, the Nigerian Air Force (NAF) recently immortalised some of its fallen heroes, who paid the supreme price in the defence of Nigeria. Given that fallen soldiers have by their commitment and sacrifice enshrined themselves on our list of national heroes, it is imperative that measures be put on ground so that their loved ones take solace that they died serving their country. This creed is also a long standing tradition of the NAF in immortalising its fallen heroes. However, under the administration of the Chief of the Air Staff, (CAS), Air Marshal Sadique Abubakar, this has further been prioritised. For those in the know, this not surprising given that for the NAF-led Abubakar, one of its core derivative is welfare- driven. Memorial for Fallen Heroes In keeping with its tradition of immortalising personnel who paid the supreme price in service to the nation, the NAF recently named 10 newly commissioned blocks of residential accommodation after nine officers and one airman for their sacrifices to their fatherland. According to NAF Director of Public Relations and Information, Air Commodore Ibikunle Daramola, the 10 blocks of transit and married quarters for Officers and Non-Commissioned Officers (NCOs) at the NAF Bases in Asokoro and Bill Clinton Drive, Abuja, which were constructed by the Ministry of Defence (MOD) as part of its 2018 Capital Projects, were commissioned by the Honourable Minister of Defence (HMOD), Major General Bashir Salihi Magashi (rtd), pursuant to the ministryâ&#x20AC;&#x2122;s efforts at providing qualitative and conducive accommodation for personnel of the Armed Forces of Nigeria. Speaking during the ceremony, the HMOD, who was represented by the Permanent Secretary MOD, Alhaji Babangida Husseini, noted that the provision of befitting accommodation was part of the commitment of the Commander-in-Chief of the Armed Forces of Nigeria (AFN), President

Muhamadu Buhari, to support the AFN and the NAF, in particular, to gradually and progressively attend to the welfare needs of officers and airmen/ airwomen. While noting that welfare of personnel was critical to sustaining the operational successes of the AFN, the minister stated that the wellbeing of personnel would continue to be prioritised in keeping with the ministryâ&#x20AC;&#x2122;s unflinching commitment to ensuring operational efficiency. The HMOD, who commended the CAS, for his efforts towards improving the living standards of personnel and the operational effectiveness of the NAF, pointed out that the laudable achievements of the NAF attest to the CASâ&#x20AC;&#x2122; relentless drive to reposition the service into a highly professional and disciplined force. The commissioned accommodation consist of two blocks of 10 by single bedroom officersâ&#x20AC;&#x2122; transit accommodation and two blocks of four by two bedroom married officersâ&#x20AC;&#x2122; accommodation at NAF Base Bill Clinton Drive as well as four blocks of four by two bedroom married officersâ&#x20AC;&#x2122; accommodation, one block of 16 by single bedroom officersâ&#x20AC;&#x2122; transit accommodation and one block of 16 by single bedroom airmenâ&#x20AC;&#x2122;s transit accommodation at NAF Base Asokoro, Abuja. The personnel immortalised include late Flight Lieutenants (Flt Lts) Akweke Nwakile, John Adams, Pereowei Jacob and Kalio Kilyofas. Others are: Flt Lts Prosper Idonije and Ebitimi Owei; Flying Officers AA Mohammed, Tolulope Arotile and Abdullahman Bayero as well as Lance Corporal Mustapha M. Honour for Arotile Also to honour the life of NAFâ&#x20AC;&#x2122;s late first female Combat Helicopter Pilot, Flying Officer Tolulope Arotile, the â&#x20AC;&#x2DC;I Choose Lifeâ&#x20AC;&#x2122; Foundation (ICLF), a non-governmental organisation (NGO), dedicated two books in her memory. According to NAF Director of Public Relations & Information, Air Commodore Ibikunle Daramola, the honour was in recognition of her contributions to the fight against banditry and other forms of criminality in the country as well as the inspiration she provided for young girls to achieve their dreams.

The honour which was done in partnership with NAF saw two comic books tagged â&#x20AC;&#x153;Heroes Seriesâ&#x20AC;?. He said the two books, â&#x20AC;&#x153;LOOK MUM, I CAN FLY!â&#x20AC;? and â&#x20AC;&#x153;GIRLS CAN FLY - A TRIBUTE TO TOLULOPE AROTILEâ&#x20AC;?, written by Chi Dika and produced by ICLF, were launched and dedicated to honour her memory. â&#x20AC;&#x153;The comic books are targeted at young Nigerians from ages three to 13. The colourful ceremony, which held on October 2, 2020, at the Fraser Suites, Abuja had three Ministers of the Federal Republic-Youths and Sports Development, Mr Sunday Dare; Women Affairs, Dame Pauline Tallen as well as Information and Culture, Alhaji Lai Mohammed, in attendance. Also present were the parents of the late Officer, Engineer and Mrs Akintunde Arotile.â&#x20AC;? Speaking during the dedication of the books, the Chief Host, the Minister of Youths and Sports, Mr. Sunday Dare, described late Tolulope as a flower that came at her appointed time, blossomed for a season and was no more. He said she would forever remain in the hearts of Nigerians. According to him, there is the need for youths to discover their talents and skills as well as acquire the requisite knowledge to excel as there is no shortcut to success. â&#x20AC;&#x153;Thousands of Nigerian youths are doing sterling and decent things like the Late Arotile didâ&#x20AC;?, he said. In her remarks, the Minister of Women Affairs, Dame Pauline Tallen, while describing her as a star, recalled how the Chief of the Air Staff (CAS), Air Marshal Sadique Abubakar, gave her the opportunity to decorate the late Tolulope with her wings on October 15, 2019. According to her, â&#x20AC;&#x153;it took me over a month to stop crying as it is not easy to lose a trailblazer, a role model, very courageous, resilient, rugged and, a heroine, even in deathâ&#x20AC;?. She said all other young female officers she was grooming are clear testimonies that she still lives on. She prayed for God to raise brave, young female officers that would step into her shoes. The Minister of Information and Culture, Alahji Lai Mohammed, noted that the late Arotile achieved within the short span of her life what others could not achieve in many years. While condoling with the Arotile family, the Minister encouraged the

youths not to give up on their dreams. While presenting the â&#x20AC;&#x153;Heroes Book Seriesâ&#x20AC;?, the CAS, who was represented by the Chief of Policy and Plans, Air Vice Marshal Oladayo Amao, stated that few stories celebrating men and women of valour who had sacrificed their lives in the line of duty ever get told. Against this backdrop, the CAS disclosed that the NAF was committed to changing the narrative and had, in partnership with Nollywood, put together a feature film titled, â&#x20AC;&#x153;Eagle Wingsâ&#x20AC;?. The movie, he noted, would change the perception of Nigerians on Military heroes and would be available in cinemas soon. Speaking further, the CAS noted that the NAF was devastated by the tragic and untimely death of Tolulope on July 14, 2020. â&#x20AC;&#x153;It is however gratifying that since her demise, many young Nigerian girls have personally requested to be recruited into the Air Force. Besides these, no fewer than 12 other female officers, who have undoubtedly been motivated by Tolulopeâ&#x20AC;&#x2122;s inspirational life, are currently undergoing flying training, both within and outside the country, to become NAF pilots. â&#x20AC;&#x153;It is our hope that this comic series will encourage young Nigerians to make choices that will benefit them, their family, and the Nation. It will especially do a lot of good for the girl child, who, like Arotile, will be motivated to study, work hard, and unreservedly pursue their dreams and legitimate aspirationsâ&#x20AC;?, he said. NAF Standard for Fallen Heroes While one of the challenges families of fallen heroes face is often abandonment by the government and being asked to leave the barracks, given that their loved ones are dead, this present administration has however moved away from the norm by extending a hand of fellowship to the families, even after the federal government has fulfilled its statutory duties for families of fallen heroes. As gathered by THISDAY, the force does not let its fallen heroes down as welfare measures for the families they left behind are not toyed with. It was gathered that asides the memorial, there are statutory provisions by the federal government for families of fallen heroes. As at now, the welfare program of the NAF has improved for people we have lost their lives in any form of internal security operations in Nigeria. The NAF, apart from what government gives as various welfare programs, lives up to the statutory provision that when a personnel dies and has served up to 10 years in the Armed Forces, the person is entitled to accommodation. However, what that person gets as pension is a function of the rank and the last salary collected and this depends on how long one has served. It is safe to say that it's on percentage basis. It was also gathered that once a personnel has served up to 10 years and died in the service, the person gets bulk pension. The bulk pension is collected because they are dead as pension is supposed to be when one retires and is collected till death. But for any personnel who dies on duty, whether officers of airmen, the family collects five years bulk pension and that is where it stops. But if they retire and spends two or three years before they die, the family only gets the balance of the five years.

T H I S D AY Ëž ÍłË&#x153; 2020

BUSINESS/MONEYGUIDE

Greenwich Merchant Bank Commences Operations, Unfolds Expansion Plan Nume Ekeghe The newly licensed Greenwich Merchant Bank Limited has commenced operations even as it announced plan to position itself as the go-to institution for providing financial services to both local and international clienteles. The bank which is a subsidiary of the Greenwich Trust Group that already has a broad arm of services such as asset management, securities, nominees, registrar and data solution, trustees and property management, is set to leverage on its banking operations to provide more value for existing and new customers. Speaking at the official business commencement ceremony in Lagos at the weekend, the Managing Director, Greenwich Merchant Bank, Mr. Dele Babade, said his firm was set to offer value to its clients as well as expand rapidly. Speaking on the strategic plan and what it plans to offer to its stakeholders and customers, he said: The next phase of growth

promises to be more exciting as we start planting the seeds of being a full financial platform and financial powerhouse in Nigeria and beyond. â&#x20AC;&#x153;The key focus would be on being a local bank that meets international standards in customer service, professionalism and ethics which we intend to scale up over the next few years and as we have said beyond Nigeria. â&#x20AC;&#x153;We may be small for now, but the intention is that we would punch beyond our weight. So, there is in place a five-year strategy which we would continue to reshape and finetune as we proceed.â&#x20AC;? He added: â&#x20AC;&#x153;In addition to serving clients in Nigeria, we want to be known as the first point of call or window into Nigeria for international investors who are seeking entry into Nigeria either as Direct Foreign Investment (DFI) or multilateral funders to Nigerian businesses via our debt advisory team. Secondly to portfolio equity investors, whether institutional or retail especially institutional

investors via our stockbroking team in GSL, strategic investors hoping to buy into Nigerian companies via our advisory team and diaspora investors looking to invest via our asset management businesses.â&#x20AC;? Also, he said the bank in the short to medium term would to focus on what he calls the â&#x20AC;&#x2DC;3Psâ&#x20AC;&#x2122; namely Profit, Position and Platform. Babade said: â&#x20AC;&#x153;We are focused on the need to generate profit to give returns to the people to stake their risk and capital into this venture. Profit also ensures that we have a sustainable bank which would benefit all stakeholders including staff depositors, community at large.â&#x20AC;? â&#x20AC;&#x153;Position which is to be the best at what we are and what we would be doing and thirdly building the platform that would scale up and building new businesses.â&#x20AC;? He also added that they would further offer competitive services through its mobile application with cutting edge technology.

Analyst Attributes Nigeriaâ&#x20AC;&#x2122;s Economic Woes to Failure of Commercial Capital Peter Uzoho The Partner, DNA Capital, Charles Iyore, has stated that the failure of commercial capital was key to the economic challenge facing present Nigeria. In his message from England to mark Nigeriaâ&#x20AC;&#x2122;s 60th Independence Anniversary, Iyore noted that whether commercial capital was introduced by singular private treaties, wholesale privatisation or the introduction of competition by deregulation, the expectation was that there would be significant improvement in service delivery, price benefits for consumers and healthy profit profiles. He, however, regretted that those benefits had not fully accrued to the nation, as shown, â&#x20AC;&#x153;in the private treaties, as with the steel plants and rolling mills, or with the National airline carrier; in the wholesale privatization programme, as with the power companies, telecoms etc. which have all left a lot to be desired and; in sector deregulation, as with the banks and the insurance companies, which are yet to bring home the bacon. â&#x20AC;&#x153;So why has the introduction of commercial capital to national enterprises not brought in, the expected benefits?â&#x20AC;? He said the National Council on Privatisation (NCP) had

superintended the introduction of commercial capital into state enterprises for quite a while with every sale of national assets, arguing that the efficiency of the entities had dropped, the price benefits to consumers minimal or none at all while many were no longer profitable. According to him, if the NCP has always wrongly introduced commercial capital to our national enterprises, then we are stuck at this point of the curve and our development is arrested. Iyore said: â&#x20AC;&#x153;If these are the details of the asset sale contracts, the performance can also be further affected by a weak currency strategy. A situation where the exchange rate mechanism has come out with predictable outcome over thirty years, and in one direction â&#x20AC;&#x201C;dropping, means that the market price discovery mechanism is seriously flawed. â&#x20AC;&#x153;Fear is the prevailing emotion of the economy and all who run services or production with significant global inputs are on a hiding to nothing. â&#x20AC;&#x153;The airlines, in particular, cannot be competitive as their components, in parts and services, require foreign exchange, while their revenue streams are largely in local currency. Attempts to address these challenges in many industry sectors, includ-

ing government as a sector, is what has led to the multiple exchange ratesâ&#x20AC;&#x2122; administration of the Central Bank. â&#x20AC;&#x153;With every cycle of these adjustments, the treasury is further subsumed into the Central Bank. Just like we (Gain and Prospects) asked in 1988, can the economy run only on a liquidity anchor?â&#x20AC;? He added that in jurisdictions where commercial capital had disciplined state capital, as in Dubai, Singapore Indonesia and South Korea, the flow of global capital was steady and assets created often posted healthy profits. In some of these countries, according to him, the discipline of state capital exceeds that stipulated by in-flowing foreign commercial capital. He stated that Nigeria can only keep to a good growth curve, the mainframe indicated by the countryâ&#x20AC;&#x2122;s macro-economic indicators were maintained. â&#x20AC;&#x153;There is a lot of patient growth capital in the world looking for good quality assets. From the speed with which our pension assets have grown, you can imagine the size of pension assets around the world which has been aggregating for much longer periods.

FCMB Restates Commitment to Customer Satisfaction First City Monument Bank (FCMB) has restated its commitment to providing the best service delivery and value-added offerings that would consistently enhance the experience of its teeming customers at every touch point. The bank further assured that it would continue to leverage on its solid business models, highly professional staff, innovation, bespoke solutions and technology to turn the aspirations of customers to life changing opportunities. FCMB gave the assurance in a statement to commemorate this yearâ&#x20AC;&#x2122;s international Customer Service Week, holding from

October 5 to 9, 2020, under the theme, â&#x20AC;&#x153;Dream Team.â&#x20AC;? The theme essentially highlights the importance of teamwork in providing outstanding service to all customers at this challenging period. Moreover, it serves as a tribute to teams who work together to provide excellent and magical service to customers, most especially those that have embraced new work arrangements, passionate about what they do, strive for excellence, adapt to change and value teamwork despite the menace of the COVID-19 pandemic. In the statement, FCMB announced several activities

to make this yearâ&#x20AC;&#x2122;s Customer Service Week memorable and impactful, as the event offers another opportunity to further connect, engage and appreciate customers for their unbridled loyalty and patronage in the last 38 years that the lender has been in existence. â&#x20AC;&#x153;The activities include, a customer appreciation drive whereby customers who buy airtime worth N500 and above via the bankâ&#x20AC;&#x2122;s *329# USSD channel get a 10 per cent bonus add-on all through the week; a virtual question and answer session between customers and the Divisional Head, Service Management and Technology.

Sunti Golden Sugar Community Liaison Manager, Samuel Okunola (left), presenting relief food items to flood devastated indigenes of Sunti Community in Niger State, with the village head of Kanzhi community, Umaru Mohammed (right), at Kanzhi, Niger State..recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

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

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

March 2018 15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

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

The price of OPEC basket of thirteen crudes stood at $41.46 a barrel on Tuesday, compared with $41.61 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY Ëž ÍłË&#x153; Í°ÍŽÍ°ÍŽ

FBN Holdings Shares Grossly Undervalued, Says Eke Goddy Egene The current share price of FBN Holdings does not reflect the financial performance and future prospects of the holding company, the Group Managing Director, FBN Holdings Plc, Mr. UK Eke has said. Eke, who stated this said while FBN Holdings has been recording highly improved financial results in the first and second quarters of the 2020, the

performance has not reflected in the valuation of equity at the stock market. FBN Holdings shares closed at N5.20 per unit last Friday, which is 20 per cent lower than its opening price for the year. Although he explained that the entire stock market has been on bear run for some time, shares of FBN Holdings have been grossly undervalued, noting that this provides a tremendous entry opportunity for investors.

P R I C E S MAIN BOARD

F O R DEALS

â&#x20AC;&#x153;The relative undervaluation of FBN Holdings provides a tremendous opportunity for investors both locally and globally to benefit from the tremendous upside the stock provides. Today, the valuation of the business does not reflect the growing fundamentals as evidenced by the return on equity which has continued to improve quarter-on-quarter. More fundamentally, the Group

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

QUANTITY TRADED

VALUE TRADED ( N )

has begun to reap the dividend of its investment in technology that has enhanced the earning capacity of the business and expanded our market reach,â&#x20AC;? Eke said. He explained that the approach of company to closing the valuation gap was to continue to implement its strategy and deliver results, quarter-on-quarter. â&#x20AC;&#x153;Nothing succeeds like success and performance is the best

T R A D E D MAIN BOARD

A S

response to market hesitation and skepticism. We believe the valuation will ultimately reflect the strength of the business,â&#x20AC;? he said. Speaking on the impact of COVID-19 on the business, Eke said FBN Holdings has continued to assess the impact not only on its income in the immediate but also mediumto-long-term impact on its customers and their ability to meet obligations. â&#x20AC;&#x153;And in line with the commit-

O F

ment to supporting our customers and providing leadership in the financial services industry, we will continue to provide unfettered access to financial services to our customers and address their needs. We are working in line with the guidance of the regulators including the Central Bank of Nigeria (CBN) in providing access to funding as we seek to kick-start the economy and drive growth,â&#x20AC;? he said.

2 9 / 0 9 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

MONDAY, OCTOBER 5, 2020 ˾ T H I S D AY

MARKET NEWS

NSE, DMO,CSL Stockbrokers Move to Boost Fixed Income Market

Goddy Egene The

Nigerian

Stock

Exchange (NSE) will host a two-day webinar on fixed income for capital

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

market stakeholders to further build capacity and enhance investors’

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 30Sep-2020, unless otherwise stated.

participation in the market. The webinar, which is in collaboration with the Debt

Management Office and CSL Stockbrokers will hold on Wednesday, 7 October for

dealing member firms and Thursday, 8 October 2020 for the investing public.

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 0.95 0.96 5.28% ACAP Income Funds 0.79 0.79 10.40% 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 5.32% AIICO Balanced Fund 3.15 3.24 28.39% 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 N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 101.79 102.50 5.94% AXA Mansard Money Market Fund 1.00 1.00 3.52% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.21 2.21 20.23% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 1.93 1.96 16.88% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 4.93% Paramount Equity Fund 12.18 12.40 -2.69% Women's Investment Fund 115.05 116.14 4.23% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund 2023 N/A N/A N/A Cordros Milestone Fund 2028 N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A 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 3.33% Coronation Balanced Fund 1.00 1.01 7.27% Coronation Fixed Income Fund 1.61 1.61 20.89% 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 3.72% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 2.56% EDC Nigeria Fixed Income Fund 1,191.76 1,205.43 7.44% 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 1,431.84 1,433.57 17.17% FBN Balanced Fund 157.27 158.40 7.12% FBN Halal Fund N/A N/A N/A FBN Money Market Fund 100.00 100.00 4.17% FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail N/A N/A N/A FBN Nigeria Smart Beta Equity Fund 119.66 121.52 -8.05% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 2.89% Legacy Debt Fund 3.83 3.83 4.83% Legacy Equity Fund 1.20 1.23 6.45% Legacy USD Bond Fund 1.12 1.12 3.80% 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 3,253.38 3,294.05 7.05% Coral Income Fund 3,204.57 3,204.57 4.19% FSDH Treasury Bills Fund 100.00 100.00 3.65% 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 4.05% Nigeria Entertainment Fund 121.12 121.65 12.45%

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 N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A 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 1.34 1.36 9.87% PACAM Fixed Income Fund 11.85 11.81 4.85% PACAM Money Market Fund 10.00 10.00 3.20% PACAM Equity Fund 1.12 1.13 PACAM EuroBond Fund 108.38 110.98 SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 114.73 117.07 -5.32% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 6.62% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A 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 10.58 10.70 2.95% Zenith Ethical Fund 11.73 11.83 0.93% Zenith Income Fund 24.43 24.43 7.54% Zenith Money Market Fund 1.00 1.00 3.46%

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

9.06 87.22 67.77

9.16 89.06 68.99

4.03% -7.69% -9.81%

Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.22 4.50 12.69 1.00 11.84 193.39

3.26 4.58 12.79 1.00 12.04 195.39

-9.13% -23.73% 4.48% 3.19% 13.80% 2.41%

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.

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

MONDAY, ͽ˜ ͺ͸ͺ͸ ˾ T H I S D AY

NEWS

Stock Market Sustains Gain, Enters Positive Territory Goddy Egene The Nigerian stock market year-to-date (YTD) performance turned positive last Friday after almost seven months of being negative as cheap valuations of equities and low yields in the fixed-income markets continued to attract investors to the local bourse. After recording a decline in 2019, the market had opened for 2020 with positive performance that lasted till February 26 before the bears took over control. And the market value has remained below its year’s opening threshold. However, the value, climbed above the year’s opening last Friday with the Nigerian Stock Exchange (NSE) All-Share Index rising to at 26,985.77, showing a growth of 0.54 per cent compared to 26,842.07 at the beginning of the year. Similarly, the market capitalisation of equities ended with N14.105 trillion, showing a faster growth of 8.8 per cent as against the opening value of N12.968 trillion. The performance indicates that the Nigerian market has wiped off the losses recorded between March and September

and are now showing growth. According to market operators and analysts, the positive tilt in the market stemmed from investors’ continued favourable reaction to the cut in Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN)’ Monetary Policy Committee (MPC), purchase of undervalued stocks and end of year portfolio rebalancing. “Following the payment of interim dividends, investors are positioning in fundamentally sound counters ahead of third quarter (Q3) earnings reports. Also, end of month portfolio rebalancing contributed to the positive tilt of the market. “We expect sentiment to remain positive in the coming week, supported by cheap valuations of equities and low yields in the fixedincome markets. However, we anticipate that profit-taking will puncture the current gaining streak,” analysts at Greenwich Research said. An analysis of the market recovery showed that after ending first quarter (Q1) with a loss of 20.6 per cent, it appreciated by 14 per cent in the second quarter (Q2). It consolidated on the

growth in the third quarter (Q3) gaining 9.6 per cent. Specifically, the NSE ASI rose from 24,479.22 to 26,831.76, while market capitalisation grew from N12.769 trillion to N14.052 trillion within Q3. Market operators had attributed the growth in the Q3 to the gradual opening of the economy after months of lockdown due to COVID-19. They also said reactions to half year’s financial results of companies spurred demand for stocks in the period. For instance, Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Chief Onyenwechukwu Ezeagu, said the gradual easing off of the lockdown, the gradual retuning of active economic agents and the fact that some of the results of quoted companies for the second quarter(Q2) were positive signalling impact that does not advance the gloomy predictions of doomsday advocates. “The various cash injections following the COVID-19 palliative by governments and donor agencies helped to give impetus to the economy and by extension and vigour to the capital market. With the

reintroduction of FX window options by the Central Bank of Nigeria (CBN), it is expected that the market will continue in its recovery trajectory,” Ezeagu said. Also commenting, Group Managing Director, Emerging Africa Capital Group, Mrs. Oluwatoyin Sanni, said: “In August, investors expressed their interest in defensive and growth stocks with strong potential for future growth irrespective of the economic slowdown. In particular, demand for manufacturing and banking stocks helped the benchmark ASI to close higher. The positive momentum and sentiment towards companies that pay interim dividends and repositioning in the consumer and industrial goods segments kept the market on an upward.” In the same vein, Head of Research, United Capital Plc, Mr. Wale Olusi, said “Despite uncertainties in the horizon, the uptrend in the market is driven by cheap market valuation, especially in oil and gas names. Expectations for the yet to be released results of tier 1 banks as investors position ahead of interim dividend payment.

Lastly, sustained reduction in yields on Treasury Bills which continues to approach one per cent, account for the interest in the stock market as investors opt for riskier assets to make alpha returns,” he said. While the above factors were working in favour of the stock market, the cut in the MPR further boosted investors’ shift as they swooped on equities with the hope of reaping higher returns. This helped to sustain the positive performance till the end of Q3 and when trading resumed on October 2, the market posted a gain, which helped to lift the market to positive territory in terms of YTD performance. Speaking on the swing to positive territory, Chief Research Officer, Investata Consulting Limited, Mr. Ambrose Omordion, said the nation’s equity market turned positive over the past week to extend the bullish run for two consecutive weeks and breakout the first major resistance level on a strong positive sentiment for high-flyer and growth stocks ahead of earnings reporting season. According to him, the

market rally and strong recovery so far are as a result of increasing interest of smart money which comprises foreign players, institutional investors, fund manager, pension fund administrators, high net worth individual and retail investors that are taking advantage of circular flow funds as low rate and yields environment are pushing funds to equity assets especially the blue-chip companies and others. “Considering the strong market fundamentals in form of liquidity, low valuation as represented by the prevailing attractive price-earnings ratio that is below 15x, positive sentiment and continue sector rotation. Coupled with the high margin safety among the high dividend-paying stocks. The COVID-19 market rally has naturally ignored all the negative economic data ranging from August inflation that stood at 13.22 per cent, Q2 negative gross domestic product (GDP) of 6.1 per cent and industrial output below 50 points as of September Purchasing Manager index contracted to 46.9 points from 48.5 points in August,” Omordion said.

Agbakoba Urges Buhari to Harness N7tn Revenue in Maritime Sector Emmanuel Addeh in Abuja A Senior Advocate of Nigeria (SAN) and former President of the Nigerian Bar Association (NBA), Dr. Olisa Agbakoba, has called on President Muhammadu Buhari, to explore the maritime sector as well as review Nigeria’s trade facilitation and land administration laws in his renewed effort to shore up the country’s revenue sources. In a letter he wrote the Nigerian leader, the senior lawyer, posited that if properly harnessed, the Apapa Port alone could generate as much as N7 trillion annually for the federal government. While applauding the early release of the 2021 budget, which he said addresses concerns to reflate the economy, the human rights

lawyer noted that it was shocking that Nigeria lacks the critical and essential tools of trade facilitation, which he listed as vessels and airlines. “One area of great interest that can generate revenue is the Apapa port city. A recent report by a Dutch consultancy firm, Dynanmar shows that Nigeria loses N20 billion daily at the ports, which is N7.2 trillion yearly. “The second area that can also generate substantial income has to do with trade facilitation. Trade is Nigeria’s second-largest contributor to Gross Domestic Product (GDP), but it is shocking that Nigeria lacks the critical and essential tools of trade facilitation which are vessels and airlines. “So, legislation is proposed to introduce the Nigerian

National Shipping Line (NNSL) and Air Nigeria. If our local content policy and laws are implemented in terms of trade facilitation, Nigeria can generate over N20 trillion and 10 million jobs in five years,” the renowned maritime lawyer stated. He noted that the federal government has broadly harmonised its fiscal and monetary policy, but called for more expansionary measures on the fiscal side. On achieving an efficient land administration, Agbakoba said that a recent study shows that the housing inventory of Nigerian property exceeds $7 trillion, but added that most of this is dead capital that cannot be used as collateral for financial transactions because they are not properly titled. “Creating an efficient titling

system by introducing a Land Use Administration Act will release a lot of revenue into the system. If it is properly done, estimates suggest it can generate N30 trillion over five years. “Looking at all these areas and without any serious study, it shows that we are almost at N100 trillion. But with concerted deep study, it is possible to hit the N100 trillion mark. “Government should explore new sources of revenue to close the budget deficit and grow the economy by enacting the Strategic Revenue Growth and Recovery Act”, he advised. With a budget deficit of about N7 trillion, the senior lawyer stated that how to raise revenue has become a big challenge, thus the need to

look at other areas to source for revenue. “The Strategic Revenue Growth Initiative of Government is very timely. There are five critical elements of the initiative namely: Revenue Generation, Job Creation, Economic Growth, Ease of Process and Reducing Cost of Governance and Leakages. “This is necessary as Nigeria is faced with an unprecedented revenue challenge exacerbated by the Covid-19 pandemic and the crash in oil price. “I understand the SRGI is targeted at the Department of Petroleum Resources (DPR), the Nigerian National Petroleum Corporation (NNPC), Office of the Accountant General of the Federation, Federal Inland Revenue Service (FIRS), Nigerian Customs Service

((NCS) and Nigerian Ports Authority (NPA). “There are many opportunities to realise enormous revenue and jobs from the services sector otherwise known as the soft economy,” he opined. He disclosed that to that effect, his firm will be hosting a webinar with BusinessDay on the 22nd and 23rd of October 2020 to be opened by the Vice President, Prof. Yemi Osinbajo and chaired by the Chairman of Fidelity Bank, Mr. Mustapha Chike-Obi. “The theme of the webinar is: “How law can be a tool for revenue generation and jobs creation”. Some of the areas we are reviewing include the maritime industry which is the second-largest contributor of revenue other than oil,” the letter informed.

PRESIDENCY: BUHARI WILL NOT SUCCUMB TO THREAT, UNDUE PRESSURE OVER RESTRUCTURING contribute to it,” he said, explaining: “So, the solution is for a referendum for Nigerians to decide whether to break up or to remain as one country. And if we decide to remain together, we should determine the restructure.”

Afenifere: ACF is Arrogant Responding to the ACF position, the Pan Yoruba socio-cultural group, Afenifere and PANDEF condemned its position that those calling for the restructuring of Nigeria were insulting the North. Afenifere’s spokesman, Mr. Yinka Odumakin, told THISDAY yesterday that the ACF's position smacks of grand arrogance. "The ACF are insensitively

arrogant to say clamouring for a settled society is an insult to them. Are they savages? God should forgive us the sin that made Him to lump us in the same country with these types,” Odumakin said. PANDEF has also described as careless and irresponsible a statement credited to the ACF that patriotic Nigerians calling for the restructuring of the country "are insulting the North". PANDEF in a statement issued yesterday by its National Publicity Secretary, Hon. Ken Robinson, stressed that the statement was irresponsible, careless, and clearly speaks to ACF’s "high horse" disposition. According to him, "If they claim not to understand restructuring in the context Nigerians are clamouring

for, then it's a pity. There is nothing to clarify or define. Those against the restructuring of the country are only living in self-deception.

Fayemi: APC Has Not Abandoned Restructuring In a related development, the Chairman of the Nigeria Governors’ Forum (NGF) and Ekiti State Governor, Dr. Kayode Fayemi, has said the ruling APC has never abandoned the quest for restructuring. He recalled that the party had projected restructuring as a core manifesto and set up the El-Rufai Committee to make recommendations to its leadership. Fayemi said not only has

the panel submitted its report, but concrete steps had also been made to make proposals to the National Assembly. He drew attention to the commencement of constitution review by the Omo-Agege Committee, saying that it has rekindled the agitation for restructuring. The NGF chairman spoke yesterday with reporters in Lagos on preparations for the second year anniversary of his second term, gains and constraints of the administration, conflicts in Ekiti APC and agitations for federalism. Fayemi argued that federalism is the answer, adding that the onus is on the National Assembly to look at the previous reports of National Conferences. He said many

recommendations along the line of restructuring, devolution and federalism were embedded in the reports of the Niki Tobi Panel, the 2004 Conference set up by former President Olusegun Obasanjo and 2014 conference established by former President Goodluck Jonathan. Fayemi said: “We must confront our reality as a federation. The current structure is supportive of the unitary model. The state structure, for now, is problematic. There is a need to move towards devolution, not only of functions but also resources.” The governor also spoke on the quest for decentralisation of security, noting the actualisation of the South-west outfit, Amotekun, and efforts

by the federal government to kick-off community policing. He said local policing is meaningful and more effective when it is premised on the potency of intelligence gathering in the local environment. “Security cannot be unitarised. It must be devolved,” he explained. The governor also took cognisance of the protagonists and antagonists of constitution reforms, saying: “There are entrenched conservative interests to keep Nigeria the way it is. There are also entrenched interests to reform Nigeria.” Reflecting on the activities of agitators for succession, Fayemi said: “Nobody wants Nigeria to break up. They only want Nigeria to work for all of us.”

MONDAY 0CT0BER 5, 2020 ˾ T H I S D AY

INTERNATIONAL

Trump May Be Discharged Today, Says Doctor President Donald Trump is being treated with the steroid dexamethasone after oxygen level drops on Friday and Saturday, his doctor said yesterday. But he is said to be doing well and could be discharged back to the White House today Dr Sean Conley admits the

president was treated with supplementary oxygen, after refusing to confirm a day earlier US First Lady, Melania Trump, is among a growing group of people around Mr Trump who also have the virus - she is recuperating at the White House At least seven people who

Mecca Reopens for Limited Pilgrimage Mask-clad Muslims circled Islam’s holiest site along socially distanced paths on Sunday, as Saudi authorities partially resumed the year-round umrah pilgrimage amid extensive health precautions after seven-month coronavirus hiatus. Thousands of worshippers entered the Grand Mosque in the holy city of Mecca in batches to perform the ritual of circling the sacred Kaaba, a cubic structure towards which Muslims around the world pray. The umrah, the pilgrimage that can be undertaken at any time, usually attracts millions of Muslims from across the globe each year but it was suspended in March due to the coronavirus

pandemic. It will be revived in three phases, with Saudi Hajj Minister Mohammad Benten saying last week that 6,000 pilgrims per day will be allowed in the first stage to perform the umrah “meticulously and within a specified period of time”. A raft of precautions have been adopted to ward off any outbreaks during the umrah, according to state media. The revered Black Stone in the eastern corner of the Kaaba — which it is customary but not mandatory to touch during the pilgrimage — will be out of reach, while the Grand Mosque will be sterilised before and after each group of worshippers.

attended a White House event last week, including the Trumps, have now tested positive Trump, 74, has been criticised for playing down severity of virus and often spurning masks and social distancing A senior adviser to the Trump campaign, Steve Cortes, has insisted that the president is “as upbeat and assertive as he’s ever been”, despite being in hospital with coronavirus.

In an interview with Chris Wallace on Fox News Sunday, Cortes said he and other senior campaign staff spoke to the president on the phone on Saturday. “He’s doing well,” he told Wallace. “This president is going to recover, we are highly confident of that.” “There was not even one iota of the president feeling sorry for himself,” added Cortes. “He

is still governing actively as president of the United States, even from the hospital.” Quizzed about the lack of mask-wearing by many of the Republican camp, including the president, at both the Rose Garden ceremony to announce Judge Barrett’s Supreme Court nomination and the first presidential debate, Cortes said “leaders take risks”. “He (Trump) was unwilling

to completely sequester himself, to take no risk,” explained Cortes, adding that the Trump party were all tested ahead of the debate. “We believe masks are very useful, the president has worn them on many occasions,” Cortes said. “We also believe in some element of individual choice, people were distanced and they had been tested.”

Paris Braces for Maximum COVID-19 Alert Level Paris was preparing on Sunday to be placed under maximum coronavirus alert as alarming Covid-19 infection numbers appeared to leave the French government little choice but to tighten restrictions in and around the capital. Paris’s trademark bars and cafes are threatened with complete closure as early as Monday after Health Minister Olivier Veran announced that only improved Covid-19 infection rates could prevent such a step. If recent trends were confirmed “we’ll have no choice”, he warned on Thursday, saying

new restrictions would mean “no more family gatherings, no more evenings out, and a total closure of bars”. But a reprieve looks unlikely after France reported a 16,972 new coronavirus cases on Saturday alone, the highest daily number since the country began widespread testing. Figures from the regional health agency ARS show new coronavirus cases remaining above 250 per 100,000 people in Paris, a threshold triggering the maximum alert protocol which has already hit the southern cities Aix-en-Provence and Marseille

and their surroundings, as well as the French overseas territory of Guadeloupe. “There is no justification for denial,” said the ARS director for the Paris region, Aurelien Rousseau, on Sunday. “The numbers are what they are, and they are weighing heavily,” he tweeted. Interior minister Gerald Darmanin acknowledged that the looming closure of bars and cafes would be “tough” for everyone concerned. “We are French, we love to drink, to eat, to live, to smile and to kiss each other,” he told

broadcasters LCI and Europe 1 on Sunday. “But we’re also doing this because the people want us to,” he added. BFM television on Sunday published a poll saying that 61 percent of people living in Paris and its suburbs were in favour of a complete closure of bars, which are currently authorised to remain open until 10 pm. Paris mayor Anne Hidalgo told reporters on Sunday that “it’s not a done deal, there is still work being done, we’re still talking”. But she also conceded that the health situation was “very serious”

MONDAY 0CT0BER 5 2020 ˾ T H I S D AY

NEWS

Edo PDP to Write INEC on Seats of 14 Lawmakers-elect I’m not downcast, says Ize-Iyamu

Adibe Emenyonu in Benin City Edo State Chairman of the Peoples Democratic Party (PDP), Dr. Tony

Azegbiemi yesterday disclosed that his party would formally write the Independent National Electoral Commission (INEC) to

With 58 New COVID-19 Infections, Nigeria Records Lowest Cases in Seven Months Martins Iﬁjeh Nigeria has recorded 58 new cases of COVID-19, making it the lowest single day infection since March. This brings to 59,345 the number of confirmed cases in Nigeria. Announcing this yesterday, the Nigeria Centre for Disease

Control (NCDC) said Plateau recorded 18 new cases; Lagos, 15; Katsina, 10; Ogun, five; Kaduna, four; Edo, three; Ekiti, Federal Capital Territory (FCT) and Ondo recorded one each. It said: “Nigeria has so far recorded 59,345 confirmed cases of COVID-19. 50,768 patients have been discharged, while 1,113 persons have died.”

conduct by-elections into 14 seats in the state House of Assembly, which were declared vacant in December 2019 by the Speaker, Hon. Frank Okiye. This is coming as the candidate of the All Progressive Congress (APC) in the September 19 governorship election in the state, Pastor Osagie Ize-Iyamu yesterday dismissed claims in some quarters that he is downcast over the outcome of the election which was won by Governor Godwin Obaseki of the PDP. Speaking on a live TV programme, Azegbiemi said the affected constituencies were being denied representation in the state House of Assembly. He said: “We are very worried

because about a million people have lost their voices in the house of assembly; their voices are not being heard; nobody is talking about them; nobody is representing their interests. We are worried about it is because these are people that voted for the party; they voted for the governor in the last governorship election and we want them to be represented in the house of assembly and apart from the demand we are making now for INEC to commence the process; we are going to follow it up with a letter as a party; we are going to write INEC officially to carry out its constitutional responsibility by conducting election into this 14 constituencies.” Efforts to reach the factional

Speaker, Hon. Victor Edoror were not successful as he did not pick repeated calls and same for one of the members of the factional assembly, Hon. Washington Osifo. But an aide to one of the members who refused to speak officially said “You cannot declare a seat that was not occupied vacant because it was not occupied in the first place; so, how can you declare it vacant? They are just making noise. It is an issue already in court.” Meanwhile, the candidate of the APC in the September 19 governorship election in the state, Ize-Iyamu yesterday dismissed claims in some quarters that he is downcast over the outcome of the election which was won by

Governor Godwin Obaseki of the PDP. Ize-Iyamu said he had chosen instead to express gratitude to God and the people of Edo State for the election, as well as immensely thank supporters and those who assisted him. Speaking at a Special Thanksgiving Service held at the Redeemed Christian Church of God (RCCG), Soul Winners Assembly, in Benin the state capital, he said God expects man to offer him praises in all situations. The APC governorship candidate, in his sermon titled “Utilising Opportunities”, said every opportunity must be seized to achieve an aim.

APC ‘ll Win Ondo Governorship Election, Says Fayemi Vanessa Obioha Governor Kayode Fayemi of Ekiti State Kayode yesterday gave a hint of optimism that his party, the All Progressives Congress (APC) will be victorious in the October 10 gubernatorial election in Ondo State. The governor told journalists in Lagos yesterday that the Ondo State governorship election will reveal the strength of the party. He, however, admitted that the party has some self-inflicted problems that played a role in its loss at the Edo State governorship election. “We had self-inflicted problems in Edo. And I’m the first to admit that anybody who knew what we had gone through in Edo would know that we put ourselves in a situation that was problematic. The way and manner of the exit of our former governor created problems for us in Edo,” the governor said. He added that the popularity of the party’s candidate at the election, Pastor Osagie Ize-Iyamu could not win him the necessary votes. “As popular as Ize-Iyamu was in Edo State as a grassroots political player, committed progressive player, he almost disappeared in the campaign. And I could liken it to my situation in Ekiti State. When I ran for this office I now occupy, most people up till today do not identify the person I contested against. As far as most Nigerians were concerned,

particularly people in Ekiti, I ran against Ayo Fayose. We had that problem in Edo. Obaseki did not run against Ize-Iyamu.” Fayemi who was accused of not throwing his weight behind the party’s candidate in the Edo State governorship election, seized the opportunity to clear the air regarding his stance. “First, I had COVID-19 around the time. Secondly, there is an unspoken rule in the Nigerian Governors Forum (NGF); the Chairman of the forum does not campaign against the sitting governor running for election anywhere. Most people don’t know this - because my job is to protect, defend and to support a sitting governor whether APC or APGA or PDP. The NGF is about interest and issues that affect governance collectively; our finance, the revenue, policy issues around healthcare and education, and around road infrastructure.” Fayemi also dismissed the viral story of Yoruba indigenes calling for a break-up in the country. According to him, no serious Nigerian is interested in the break-up of the country. “I think what Nigerians want is a Nigeria that serves everybody, that works for everybody. I don’t know any reasonable Nigerian who wants Nigeria to break up. “People just believe that Nigeria is not working in the way, and the manner it should work for them with all of the resources, the endowment that God has made available here.

FCT Police Orders Investigation into Shooting of 19-year-old Kingsley Nwezeh in Abuja The FCT Commissioner of Police (CP), Bala Ciroma, has ordered an investigation into the fatal shooting of one 19-year-old Samson Jonah at Apo District of Abuja on Saturday. A statement issued by the command said the unnamed police officer identified to have shot the deceased was arrested,

detained and would be charged accordingly. The statement signed by Police Public Relations Officer, ASP Yusuf Mariam, said the commissioner, who commiserated with the family and friends of the deceased, “wishes to guarantee members of the public that the command will be lucid in its investigation and ensure the findings are made public”.

TOUCHING LIVES...

L-R: Wife of Alapomu of Apomu, Mrs. Janet Afolabi (left); and Osun State Governor’s wife, Mrs. Kafayat Oyetola, during Afolabi’s offer of interest-free loans to market women in Apomu, Osun State...weekend

Kogi Gov Urges Govts to Stop Negotiating with Kidnappers Kogi State Governor, Mr. Yahaya Bello, has challenged federal and state governments to stop negotiating with kidnappers to address banditry and other forms of insecurity. He said kidnappers should not be allowed to enjoy the proceeds of their crimes. Bello urged them to borrow a leaf from his administration, which has stopped negotiating with bandits. He said that the only way to drastically reduce the menace of kidnapping is to stop negotiating with the perpetrators and prevent them from enjoying the proceeds

of the crime. He said being ruthless against the criminals is will keep them at bay. Bello spoke during the Senate Press Corps’ Retreat 2020 with the theme, “Democracy and development in a Federation: Roles of Media, States and Parliaments” in Lokoja, the Kogi State capital. He said the spate of kidnappings in the state reduced to the barest minimum largely due to his administration’s resolve to tackle the criminals headlong. Bello, who was represented by his deputy, Mr. David Onoja, while declaring the retreat open,

said before emergence of his administration in 2016, “Kogi was noted as the kidnap capital of Nigeria. “Our highways were littered with virtually weekly occurrences of armed robbery, especially night travelers in luxurious buses. “In four years nine months later, though we have not been able to eradicate kidnappings totally, the numbers have drastically reduced to the barest minimum. “And highway robberies and bank robberies are becoming things that are in our history books rather than what we experienced.

“We are doing our best in fighting insecurity in Kogi and ensuring that life and property are secured,” he said. Bello assured Kogi residents and Nigerians of his administration’s determination to provide succour for victims of flash flooding in the state. “While we may not be able to stop the flooding, we will prevent as many lives as possible from going with the menace. “That is our focus, that is our target, that is what we shall achieve by the grace of God,” he said.

Gunmen Kill Cleric as Vehicle Crushes Policeman to Death in Ekiti Victor Ogunje inAdoEkiti Suspected gunmen have reportedly killed a cleric, Mr. Kayode Ogunleye, in Aramoko Ekiti, headquarters of Ekiti West Local Government Area of Ekiti State and dumped his body in a forest on Ijero-Ekiti highway. This came barely a month a Director at the Ekiti State LG Service Commission, Mr. David Jejelowo, was killed in his home on Igirigiri road in Ado Ekiti, the state capital, by gunmen.

It was gathered that the lifeless body of the Pastor, who was also a staff of the Ekiti West LGA, was found in his farm near the forest. Sources revealed that Ogunleye, who worked for All Christian Fellowship Church, was murdered while working on his farm. The sources revealed to journalists yesterday that the man went to his farm to harvest banana to be sold when he saw the suspected gunmen. “If you see the manner he was shot, you will see that he was

kneeling down, begging not to be killed,” the source said. Another source, who pleaded anonymity, described Ogunleye’s killing as barbaric, calling on security agencies to fish out the killers. Meanwhile, a police officer attached to the Aramoko Division Police Division of the state has been crushed to death by a motorist between Efon and Aramoko Ekiti. It was gathered that the police officer was on his way to office

when the incident happened at dusk of last Saturday. The driver of the vehicle, who also sustained critical injury, is said to be receiving treatment in an undisclosed hospital. Sympathisers confirmed that the officer worked in Aramoko but resided in Efon Alaaye with his family. The state Police Public Relations Officer, , Mr. Sunday Abutu, confirmed the incident, attributing the death to a suspected case of murder.

MONDAY 0CT0BER 5, 2020 ˾ T H I S D AY

NEWSXTRA

Lamido Tackles Osinbajo, Zulum, Danjuma, Others over Nigeria’s ‘Division’ Comments

Peter Uzoho

A former Governor of Jigawa State, Mr. Sule Lamido, has criticised the Vice President, Prof. Yemi Osinbajo; Borno State Governor, Prof. Babagana Zulum and other elected leaders in the country for allegedly talking about cracks and division of the country under their watch. Lamido also came hard on some elder statesmen including Chief Edwin Clark, Chief Ayo Adebanjo, General Theophilus Danjuma (rtd), Chief Nnia Nwodo, and Prof. Ango Abdulahi for “entertaining dividing the country” that helped them to succeed. Lamido stated these in his message to mark Nigeria’s 60th Independence Anniversary. Recounting the pleasant memories of the past about the

country and the peace, unity and good relationship that existed among Nigerians at the time, irrespective of their diversities, he pleaded that Nigeria should not break up. Lamido said: “Here we are today at 60, regional leaders in their late eighties and nineties like Edwin Clark, a minister under Gowon, Ayo Adebanjo – Awolowo’s disciple – my brother, Nwodo; a Zikist, Gen. Danjuma who fought for unity and Prof. Ango, northern elder, are now entertaining dividing the country, which has been there for them to be what they are today. “Even those born after independence like Mustapha, champion of Northern group, Kanu of IPOB; Asari of Niger Delta, Yinka of Afenifere are also nibbling the bait of division!

“To compound the problem, even leaders freely elected in government are confessing their failure. Is it not frightening to hear Osinbajo, the number two in command, talking about cracks and division under their watch; or governor Zulum, advising that we invite Chadians to defend and protect our sovereignty? And Buhari who fought as a soldier to unite Nigeria, now as president is to be our undertaker? What really is wrong with us or rather

what went wrong?” He said that “Those of us in the penthouse (former or serving presidents, governors, captains of industry, Imams, clerics, university dons, technocrats and the entire elite family) should note that a united Nigeria has been there for us.” He wondered what their generation could give back to Nigeria, so that others coming behind them and even generations unborn could also actualise their

dreams He said he grew up in the village 72 years ago under the combined support and protection of his parents, community, leaders, formal and informal institutions and his country, Nigeria. Lamido further narrated: “In my adult life through my work places in Nigerian Railways in Zaria as pupil engineer, Nigerian Tobacco Co Limited as quality controller and later salesman in the then North-west and North-east

and AC Christlieb as marketing manager in Lagos, Nigeria was there for me. “I have travelled from Lagos through Ijebu Ode to Ore Benin, Asaba, Uli, Ihiala, Owerri, Port Harcourt, Aba, Uyo, Calabar, Itigidi up to Awka! I have been everywhere in the East, West and North. Wherever I travelled, I met fellow human beings, not Ibos, Yoruba, Kanuri, Munchi, Ijaws, Chakiri or Fulani nor Muslims, Christians or free thinkers.

Falana-led Coalition Faults Buhari’s Independence Speech The Alliance for Survival of COVID-19 and Beyond, (ASCAB) has faulted some aspects of President Muhammadu Buhari’s 60th independence speech. The group said some of the facts presented by the president failed to reflect existing realities. The response tagged: ‘Separating fiction from fact, myth and from reality,’ accused the president misrepresented some facts. The statement signed by ASCAB’s Chairman and human rights lawyer, Mr. Femi Falana, (SAN), faulted Buhari for his reference to the Social Investment Programme (SIP) of his government – the farmermoni, tradermoni, school feeding programme, job creation efforts, and the agriculture intervention programmes, describing as false claims by the president that the programme were the proof of the caring nature of his government. ASCAB said the SIP was to be funded by N500billion annually over the course of the Economic Recovery and Growth Programme (ERGP).

The group said in the four years and four annual budget cycles since 2016, a total of N2trillion was appropriated in the budgets, however, only N300billion which is less than 20 per cent of allocated funds was ever released and expended on the SIP, including funds expended on the Conditional Cash Transfers (CCTs). “We also know, in the period since 2015, that poverty has risen, and so has unemployment,” said ASCAB citing the Household Poverty Survey, a five year study undertaken by the NBS which was recently released.” Quoting form the report, the group said 40 per cent of Nigerian Households live in poverty, living on household income of less than N137,000 per annum; which is barely an average of N11,000 per month; and N366 per day (Reference?). Converted to USD at a constant exchange rate of N400 per dollar, this respectively amounts to $342.50 per annum; $28.54 per month; and $0.95 per household per day.

NASSI Urges FG to Intervene in HealthPlus Crisis The Nigerian Association of Small Scale Industrialists (NASSI) has called on the federal government to intervene in the ownership dispute between HealthPlus, a pharmaceutical retail concern and its equity investment partner, United Kingdom’s Alta Semper Capital. NASSI made the call in a statement signed by its Director-General, Mr. Ifeanyi Oputa. According to the association, there is a need for the federal government to promote and protect business founded by Nigerians who, in spite of the country’s notoriously difficult business environment, have created thriving concerns. While admitting that it is yet to have full details of the events leading to the announcement of the sack of Mrs. Olubukola George, as HealthPlus founder,

as the company’s Chief Executive Officer by the foreign equity investment firm, NASSI said the federal government urgently needs to intervene in other controversial equity transactions involving Nigerian-owned businesses. “We are not fully appraised of the facts and would thus not be drawn into aspects of this case, which Mrs. George is fully capable of defending. NASSI is, however, calling upon the federal government to wade into this matter and indeed other questionable PE (private equity) transactions across Nigeria as a matter of urgency,” NASSI said in the statement. It noted that governments around the world have always identified key business players on the local scene and provide appropriate support for them to grow into multinationals.

TECHNOLOGY ON THEIR MINDS...

L-R: Minister of Communications and Digital Economy, Dr. Isa Pantami; Chairman, Zinox Group, Dr. Leo Stan Ekeh; Chairman, MTN Nigeria, Dr. Ernest Ndukwe; and Deputy Governor of Lagos State, Dr. Obafemi Hamzat, at the formal unveiling of the Tech Experience Centre in Lagos ...recently

Dangote Cement Makes 204 Consumers Instant Millionaires More Nigerians are reaping the rewards of consumer patronage and brand loyalty as over 200 lucky winners across the country have emerged star prize winners and become instant millionaires in the ongoing Dangote Cement Bag of Goodies Consumer Promo Season 2. While the new millionaire consumers of Dangote Cement product jubilate over their good fortune and windfall, there are still better days ahead for other Nigerians, as around 800 more consumers are expected to win the star prize of N1,000,000 each before

the promo ends in November, in roughly seven weeks’ time. From the results garnered so far in a programme billed to put smiles on the faces of Nigerians in a season of gloom occasioned by the ravaging coronavirus pandemic, 204 lucky consumers had won the star prizes as at last Tuesday, September 29, and three out of that number have won the one-million-naira cash prizes more than once. This positive trend is aside the thousands of other mouthwatering prizes won so far by Nigerians, some of which include

television sets, refrigerators, smaller cash prizes, Dangote Food Goodies packs and recharge cards, among others. According to a national breakdown of the star prize winners, the South West (SW) region has the current highest figure of 52 millionaires; Lagos (LO) as a stand-alone region has the next highest figure of 51 lucky millionaire consumers; the North Central (NC) region has 38 star prize winners; while the South-south (SS) region so far has 26 millionaires from the ongoing Dangote Cement consumer promo.

Likewise, the South-east (SE) region has 18 star prize winners; the North-west (NW) has produced 13 millionaires, while the North-east (NE) region has 6 millionaire star prize winners so far. Those three consumers who have won the star prize more than once are from the Lagos, North Central and South-south regions. Those who have emerged star prize winners and instant millionaires have been urging other Nigerians to join the promo and simply buy Dangote Cement products to win the star prize and any of the listed prizes.

Osun First Lady Commends Monarch’s Wife on Interest-free Loans The wife of the governor of Osun State, Mrs. Kafayat Oyetola, has commended Olori Janet Afolabi, CNN award-winning journalist and Queen of Apomu kingdom for supporting Apomu market women with interest loans through Apomu Women Cooperative launched on October 2nd at the Palace hall in Apomu. In her speech the first lady said “l appreciate Olori Afolabi for her

efforts at ensuring the take-off of this project. I have no doubt that it would help to lift many women and homes out of poverty and enhance the standard of living in their homes. “I call on other communities in the state which may not have this type of economic development mechanism to emulate Apomu women by floating their own cooperative bodies,” she explained.

The wife of the monarch said she initiated the project because “after COVID- 19 lockdown many women were unable to resume their trading businesses. “Many of them had spent their capital. A lot of them tried to borrow money from families, friends and neighbours but it was very difficult .To help these women start again I came up with Apomu Women

Cooperative as my flagship empowerment project to give interest-free loans to market women to be paid back over five months,” she said. The women were randomly selected, shortlisted and interviewed by experts from LEAD Transformation Initiative. The first batch of the beneficiaries was announced at the event.

COVID -19: Over 27,000 Passengers Arrive Nigeria Despite Strict Procedures Adedayo Akinwale in Abuja The National Coordinator of Presidential Task Force (PTF) on COVID-19, Dr. Sani Aliyu, has revealed that over 27,000 passengers arrived Nigeria during the COVID-19 pandemic despite the strict procedures adopted at the Lagos and Abuja Airports. Aliyu stated this during a townhall webinar meeting on

Saturday organised by Nigerians in Diaspora Commission (NIDCOM) and coordinated by its Chairman, Hon. Abike Dabiri-Erewa. He said, “Of the 27,000 passengers, 18,000 of them came in through Muritala Muhammed International Airport Lagos while the remaining 9,000 came in through Nnamdi Azikiwe Airport, Abuja. “The Task Force came up

with what people considered as stringent procedures because it was imperative to limit the importation of Covid-19 to Nigeria, prevent transmission during the flight and reduce the quarantine period. A statement issued yesterday by NIDCOM’s Head of Media and Public Relations Unit, Mr. Abdur-Rahman Balogun, added that Aliyu told Nigerians in Diaspora who participated at the

Webinar that public laboratories are not allowed to conduct free testing as the federal government cannot afford it, adding that it is not sustainable. “It is not something that government can afford. We will run out of test kits”, he said. Speaking on the high cost of test, the National Coordinator said the government is trying to push the cost of PCR down for private laboratories.

MONDAY 0CT0BER 5, 2020 ˾ T H I S D AY

NEWSEXTRA

NPHCDA Targets 409 LGs for Improved Immunisation Dike Onwuamaeze The National Primary Health Care Development Agency (NPHCDA) has declared

that it would commence the implementation of innovative strategies to ensure improve immunisation and Primary Health Care (PHC) service delivery in

NEITI to Expand Conversation on Impact of Mining, 13% Derivation with Book Launch Emmanuel Addeh in Abuja The Nigeria Extractive Industries Transparency Initiative (NEITI) has said it is set to launch two publications that have direct impact on revenue management and governance of the extractive sector in Nigeria. With the titles ‘Impact of Mining on Women, Youth and Others in Selected Communities in Nigeria’ and ‘Perception of the Impact of 13 per cent Oil Derivation Allocation’, the organisation said the books would be inaugurated on October 6, 2020. A statement issued by NEITI Director of Communication and Advocacy Dr. Ogbonaya Orji, in Abuja, said the first publication examines the socio-economic and environmental impact of mining on vulnerable groups in Nigeria. “Six communities across the six geopolitical zones of Nigeria were selected. They include Enyigba/Ameka in Ebonyi State (South East); Okpella in

Edo State (South South); Ilesa in Osun State (South West); Maiganga in Gombe State (North East); Mai-Adudu in Nasarawa State (North Central), and Bagega in Zamfara State (North Central). “The negative media reports on mining development and the diversity of the minerals mined in these areas informed their proposition for the project. “The choice of the selected minerals-coal, limestone, gold, lead and zinc in the producing communities was to establish the correlation between the type of minerals exploited in an area and the socio-economic and environmental impacts of the mining activity on women, children and other vulnerable members in the affected communities,” it stated. The second publication, ‘Perception of the Impact of 13 per cent Oil Derivation Allocation’, it disclosed, looked at the management of the 13 per cent derivation accruing to oil bearing communities in Nigeria.

the targeted 409 low performing Local government Areas (LGAs) in the country. This was revealed by the Executive Director/Chief Executive Officer of NPHCDA, Dr. Faisal Shuaib, when the agency briefed journalists in Lagos at the weekend. The programme was part of its efforts to reach unvaccinated/ missed children amidst COVID-19 and increase the immunisation coverage in the country with modified Integrated Medical Outreach Programme (mI-MOP). Shuaib said that the specific objectives of the mI-MOP are “to increase uptake of Routine Immunisation (RI) vaccines in low performing LGAs and achieve

coverage of 70 per cent for 3rd dose Pentavalent vaccine by Q4 2020 (fourth quarter of 2020); to increase/sustain the demand for immunisation and PHC services by systematically building population’s trust and confidence; and to increase uptake of ANC, health facility delivery, nutrition and other essential PHC services, leveraging on already established RI platform.” He said that the focus of the improved strategies would be the vulnerable populations such as children and women. The NPHCDA stated that it had been partnering with the Gavi to deploy and install a total of 2,963 Solar District Drive (SDD) cold chain equipment in the Phase 1 while a total of 6,346 of this equipment are

expected to be installed between 2021 and 2022 across all states in the country. The executive director noted that the establishment of the National Emergency Routine Immunisation Coordination Centre (NERICC) has helped to bring about a drastic improvement in immunisation coverage in Nigeria by 115 per cent between 2016 and 2019, from 33 per cent to 71 per cent. “The increment came at a critical time when the RI coverage has been on a steady decline,” Shuaib said, adding that the NERICC applied “war room approach, fast paced analytics, partnership, collaboration, funding” as major drivers of improved RI coverage. He explained that the National

Emergency Maternal and Child Health Intervention Centre (NEMCHIC), which came about as a result of the declaration of the state of public health concern on maternal and child deaths would reduce maternal and child deaths by 50 per cent 2021 and get Nigeria closer to achieving the vision of “a country where no woman or child dies from preventable causes.” He recalled that the NPHCDA’s commitment in 2017 to build a robust agency that would deliver tangible improvements in the PHC in Nigeria yielded a positive result on August 25, 2020, when the country was officially declared polio-free nation.

Glo Delights Schools, Students with Glo Smart Learning Suite National telecommunications company, Globacom, has unveiled a new service tagged Glo Smart Learning Suite packaged exclusively to boost learning in our educational institutions, as well as meet the needs of the students in the country. Globacom, in a press statement in Lagos, stated that Glo Smart Learning Suite which comprises the Enterprise Resource Planning (ERP) and Learning Management System (LMS) is a veritable platform for online education, as it facilitates teaching and learning as well as school management.

“The Glo Smart Learning Suite is a customizable platform which offers rich features including live classes, online tests and examinations, performance reporting, course registration and blended learning (Online/Offline). The platform will be customized for schools with their specified look and feel (colors and logo) at zero cost to each school and help students whose educational institutions are shut due to COVID-19 pandemic to fulfill their educational needs”, Glo added. The company explained that students of public and private

primary and secondary schools, tertiary institutions and working professionals who have needs of enhancing their capabilities will find Glo Smart Learning Suite a good valuable tool as it will cater to their digital needs in a robust manner. The company added that the new package will enhance learning and skill development which is key to future development of youths widely regarded as the leaders of tomorrow. The benefits of the service, according to Globacom, include “bundled free access to the learning portal for students and

teachers, full feature platform to access total learning and school management including ability to learn from anywhere, live classes, performance reporting, access for parents and students, live test and examinations, chat services, video conferencing amongst others”. In addition, it said that schools can opt to use the platform to manage their administration including course registration, fees payment, hostel accommodation allocation and others.

MONDAY 0CT0BER 5, 2020 ˾ T H I S D AY

24 HOURS...

TUC Kicks against Workers’ Retrenchment By Chevron Onyebuchi Ezigbo in Abuja The Trade Union Congress of Nigeria (TUC) has asked the federal government to call Chevron Oil Company and other multinationals to order in a bid to halt planned moves to lay off thousands of Nigerian employees in their companies. In a statement issued by TUC yesterday, the union accused the management of Chevron and other multinationals of scheming to relocate jobs to home countries and also replace Nigerians in their establishments with their nationals. The a statement signed by TUC President, Quadri Olaleye, and Secretary General, Musa-Lawal Ozigi, the Congress said it had

information that “Chevron management recently notified about 2,000 of its employees that their services are no longer required and that those still interested in working with them should apply afresh for a new job.” According to TUC, “This development runs contrary to Nigerian laws regulating the oil and gas industry, and other industries in the country, as it does not protect our national interest. This is an imperialist agenda that must not be allowed to stay, most especially as we have just finished celebrating our 60th Independence as a sovereign country. “Agreed, the coronavirus pandemic did hit the world real hard, but should that make organisations lose their humanity?

It is obvious that the management wants to casualise Nigerians. Is this a way to compensate workers who have risked their lives, even during the lockdown to sustain production?” It said it was imperative to remind the federal government that job creation is one of its mantras. “In fact this government made the creation of 1 million jobs per year a must if voted into power. Furthermore, an approval was also given for the employment of 1,000 employees in the NNPC by the government, which to us, is an effort geared towards fulfilling its promise on job creation. Why should this come up now?

MTN Nigeria Appoints Aquila Leasing as Fleet Management Technical Partner Aquila Leasing Limited (Aquila), a reputable indigenous leasing firm has been appointed as Fleet Management Technical Partner by MTN Nigeria Communications Plc, a leading telecommunications operator. This appointment will involve the management of existing vehicles, and acquisition of over 500 new operational vehicles for MTN to enhance effective and efficient service delivery; and to continue its positive contribution to the Nigerian economy through the creation of job opportunities, and an increase in GDP. The Fleet Management Service contract,which is for an initial fiveyear term, is aimed at enhancing MTN’s operations, logistics, equipment and staff commuting. The partnership will create over

2,000 job opportunities ranging from relationship managers, fleet administrators, drivers, mechanics to many other operational stakeholders. The Company Secretary, Mr. Boniface Ekong said in a statement that the contract will also open more opportunities to a host of business entrepreneurs who will be involved in the value chain that the contract covers. He pointed out that Aquila offers similar services to other multinationals across different sectors of the Nigerian economy including companies in the FMCGs, financial, oil and gas, and communications sectors. Aquila also offers leasing services to State governments, cooperative organisations and SMEs. Aquila gained the market reputation as a specialised full-fledged leasing

company following its excellent performance over the years. “Currently, Aquila ranks amongst Nigeria’s top independent lease operators and is the market leader in fleet management. The company currently has over 1000 vehicles under its management, and with the new MTN partnership, the number of vehicles will increase to over 1,600 vehicles. Aquila operates nationwide using 3 regional offices in proximity to its customers, and has its presence in all the states,” the statement explained. The statement added that Aquila will leverage on its proficient fleet management experience garnered over the years to help transform MTN’s fleet management, overall positive impact on the telecoms sector and added value to the Nigerian economy.

Boko Haram: House to Probe Closure of CSOs, NGOs Offices in N’East Region AdedayoAkinwaleinAbuja The House of Representatives Committee on Civil Societies and Development Partners has stressed the need to investigate the controversies trailing the activities of some nongovernmental organisations (NGOs) and civil society organisations (CSOs) which led to the shutting down of their operations by the Nigerian military in the North-east region of the country. The committee Chairman, Hon. Kabir Idris, disclosed this during an oversight function to the office of the International Committee of the Red Cross (ICRC) in Nigeria.

The chairman in a statement issued yesterday said the National Assembly as the third arm of government charged with the responsibilities of making laws and holding the executive arm to account for its policies and actions also has a key role to play in regulating the activities of NGOs, CSOs, and to some extent, donor agencies and development partners. Idris said recently, there had been a lot of controversy and misinformation relating to the activities of some of these NGOs and the funding organisations, and how such funds are being expended. He stressed that some of the

fallouts of these controversies and misinformation led to the shutting down of some NGOs’ regional offices by the military. The lawmaker noted that the committee considered the situation as unfortunate because the country desperately needs the assistance for the people who are victims of the insurgency. However, he stated that such incidents could only have happened because of lack of effective monitoring, investigation and constant evaluation of the activities of CSOs and NGOs operating in the country.

One Killed, Retired Police Inspector Injured in Akwa Ibom Cult War Okon BasseyinUyo One person was reportedly killed while a retired Police Inspector also sustained injuries as rival cult groups clashed in Inen community of Oruk Anam Local Government Area of Akwa Ibom State. The dominant cult groups in the area, Debam and Iceland confraternities, were said to have clashed last Saturday resulting in the dead of one person and injury of the retired police officer. THISDAY checks revealed that the victim, simply identified as Udo Mma, died on the spot,

while three suspects have been arrested by the police. The injured police Inspector, who retired from service in Port Harcourt, but due to his health challenge, relocated to his village at Inen Ikot Ndoh, was seriously wounded in his compound. It was gathered the cultists were not comfortable with the manner which the retired police officer was persuading them to allow peace to prevail, as they continue in reprisal killings in the area. An eyewitness, Mr. Udo Jim, said the police officer known as Inspector Okon Josiah, was

worried by the rate of insecurity and wanton killings occasioned by cult clashes in his village and decided to approach the rival cult groups begging them to stop further hostilities in the community. “Inspector Okon begged the cultists for three weeks pleading with them to stop the killings and terrorism in the area, as he cannot run away from the area considering his health conditions. “But instead of the cultists to hearken to his pleas, they decided to maim him last weekend after killing one person,” he said.

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

MONDAY 0CT0BER 5, 2020 ˾ T H I S D AY

24 HOURS...

Strike: ASUU Accuses FG of Non-remittance of Five Months’ Union Dues Kemi Olaitan in Ibadan The Academic Staff Union of Universities (ASUU) yesterday accused the federal government of allegedly deducting check off dues on behalf of the union and refused to remit same between February and June 2020. The union in a statement issued yesterday by the Chairman, University of Ibadan chapter of the union, Prof. Ayo Akinwole, and made available to THISDAY, alleged that there is an evil conspiracy among the

ruling elites to wipe out public university education which provides education to over 90 per cent of Nigerian students in order to elevate private universities which are owned by the elites and their collaborators. ASUU had been on strike for over six months to draw the attention of government to what it described as criminal negligence of not funding public universities in the light of rising insecurity and other mounting social problems. According to Akinwole, “The

plan by the government to use salary stoppage to punish lecturers for being concerned with the parlous state of affairs in the country’s tertiary education has failed as members are resolved to ensure that government becomes responsive and responsible. He maintained that while the union is ready to discuss outstanding issues on the

implementation of the February 2019 MOA which the federal government signed with ASUU and other conditions of service with the government, the federal government has not been forthcoming but has rather resorted to embarking on propaganda against the union. The ASSU chief, however, hinted that the University

Transparency and Accountability Solutions (UTAS) developed by the union to replace the government Integrated Personnel Payroll Information System (IPPIS), “which has been orchestrated to destroy global academic culture, is fully ready,” lamenting government’s insincerity of purpose. Akinwole also denied the

claim that the union would call off its strike, as alleged by the Minister of Labour and Employment, Dr. Chris Ngige, adding that while the lecturers are ready to work, they would not call off the strike until and unless the government fully attends to all the demands of the union, including immediate implementation.

Abaribe Accuses Buhari of Engaging in Endless Blame Game Udora Orizu in Abuja The Senate Minority Leader, Enyinnaya Abaribe, yesterday said President Muhammadu Buhari has continuously blamed past presidents for challenges faced by the country but doesn’t want to be blamed for his own faults. Abaribe stated this during a pre-recorded interview regarding Buhari’s Independence Day speech on ‘The Signature Show’, a programme on AIT channel on Sunday. Responding to a question on the notion by many Nigerians that Buhari means well for this country except that some people somewhere are creating distractions and challenges for him, Abaribe opined that what happens is that there’s an overwhelming attitude of trying to shield Buhari away from his own faults. He said Buhari continues to blame other presidents, “but when it comes to himself, he still blames other people and not himself. “Anything that happens is him, otherwise, why are you president? I had asked this question on the floor of the Senate, that you blame all manners of people yet you don’t blame him, every other president was blamed. Even he

himself continues blaming other presidents, but when it comes to him, he still blames other people and not himself. ‘’Those who want to be rosyeyed and listen to all those kind of platitude can do so. When we hired him to do this job, we hired him to do a job for us, keep this country one, develop us, help us to be able to forge ahead as a nation, and then you come in and end up destroying the country’s base to the extent that even the vice president has admitted that there are so many fault lines that may lead to the breakup of the country if we are not careful. And you still turn around and say it’s not his fault, whose fault is it then. There’s a one symbol for the country, and if that symbol is not able to do the job then he must also take the blame for whatever problems and faults we have.’’ In response to the president’s statement that the underlying cause of most of the problems we’re faced as a country is artificially contrived, the Senate Minority Leader said the president is indicting himself, “and if he says they were artificially contrived then he is the chief culprit of artificially contriving everything that has led the country to where it is.”

REWARDING CUSTOMERS...

L-R: Regional Trade Marketing Manager, South-west Dangote Cement Plc, Mr. Kayode Akinwande; Marketing Director, Dangote Cement Plc, Mrs. Funmi Sanni; one of the star-prize winners, Mr. Adeniran Muhideen Alade; Dangote Cement Distributor, Mrs. Sherifat Kehinde; and Regional Director, South-west, Dangote Cement Plc, Mr. Abayomi Shittu, during prize presentation in the ongoing Dangote Cement Consumer Promo Season 2 in Ibadan, Oyo State… weekend

Surviving COVID-19 is Enough Reason to Celebrate, Says CAN President Kuni Tyessi in Abuja The President of the Christian Association of Nigeria (CAN) Rev. Dr. Samson Olasupo Ayokunle, has said surviving the COVID-19 pandemic is enough reason to make every Nigerian celebrate the 60th Independence anniversary of Nigeria. While encouraging Nigerians not to despair in the face of the progress and development made so far, he said the ratio of those who have

died and those who got infected despite the Nigerian population is an outstanding proof of the mercy of God on the country. Ayokunle, who stated this yesterday during the New Estate Baptist Church, Abuja 2020 maiden leadership conference in commemoration of Nigeria’s 60th Independence anniversary with the theme: ‘Influencing the nation- salt of the earth, light of the world’, said even the prediction of the World Health Organisation (WHO) concerning

Nigeria and the pandemic was defeated, and that should call for celebration. However, he said the government must promote love among Nigerians, bearing in mind that as a multi ethnic country with over 500 ethnic groups, the only binding force for peace and sustainable development is love. According to him, “Even if there was nothing to celebrate in the past, we need to celebrate the fact that the pandemic did not wipe us out. WHO predicted that the pandemic will kill

about 30million in Nigeria alone, and not evenAfrica. I don’t know whether the organisation thought it is God, but God surprised them. “The people with technological know-how and medical advancement are the ones being destroyed by the pandemic with reckless abandon. For those of us who didn’t have the power but have God to look up to have not been disappointed as God has been faithful to us.

Oghenesivbe alleged that Gbagi is pursuing his 2023 gubernatorial ambition “on a bad note by thinking that attacking perceived or would-be opponents” would increase his electoral fortunes and possibly give him an edge over others. He advised Gbagi to attend to his problems instead of dragging Mrakpor and any other perceived opponents into the avoidable problem he created for himself over an alleged stripping, torture

and dehumanising of some of his female employees. Oghenesivbe described the attack on the state attorneygeneral as one directed on the administration of Governor Ifeanyi Okowa, adding that “the unfounded allegations against Mrakpor amounts to mischievous political propaganda” that could very well mess up Gbagi’s aspiration to become the governor of the state in 2023. He wondered why the ex-

minister appeared to be unsettled by the personality of Mrakpor who “is yet to declare his ambition to run for the office of the governor of Delta State in 2023.” Nonetheless, Oghenesivbe described Mrakpor and the Chief of Staff to the Governor, Mr. David Edevbie, as formidable political personages from Delta Central senatorial district who could frighten Gbagi any day they registered their interests in the 2023 governorship race.

Promasidor Launches Twisco Chocolate Drink Powder Okowa’s Aide Condemns Gbagi’s Attack on Delta Attorney General

Promasidor Nigeria Limited has launched Twisco Chocolate Drink Powder into the cocoa beverage market. The brand was unveiled on the occasion of the contract signing of Twisco Brand Ambassador with the multi-talented singer, Tiwa Savage. According to the Managing Director of Promasidor, Mr. Anders Einarsson, the launch of Twisco has confirmed the organisation’s commitment to designing quality food products to keep Nigerian families nourished, with a branded active ingredient, called ENERFORT. ENERFORT is a special blend of 10 power packed micro nutrients, including Vitamin B2, B6, B12, C, D3, Niacin, Calcium, Phosphorus, Iron and Zinc– all which are necessary for optimal energy release. Einarsson noted that Tiwa Savage’s personality and career exploits in the Nigerian and global entertainment industry is in sync with Promasidor’s brand building objectives, adding that the singer will enjoy a mutually

beneficial relationship with Promasidor as Brand Ambassador for Twisco. Also speaking during the event, the Marketing Manager, Promasidor Nigeria, Mr. Abiodun Ayodeji, said the introduction of Twisco Chocolate Drink Powder into the Nigerian market was designed to meet the nutrition needs of the Nigerian child and other members of the family. “Twisco is a Premium Chocolate Drink Powder that we are offering to consumers. Tiwa Savage said the Twisco Chocolate Drink Powder will ride on the crest of her brand personality to market success. She cited her huge social media following, especially her Instagram handle as one of the sure-fire routes to the consumer market. At the end of the product launch, Promasidor promised to continually use its unique and thorough knowledge of the food industry in Africa to energise, nourish and enrich the quality of the lives of the people on the continent.

Omon-Julius Onabu in Asaba The Executive Assistant on Communications to the Governor of Delta State, Dr. Fred Latimore Oghenesivbe, has described as “unproductive and uncalledfor” the alleged attacks on the personality and reputation of the Commissioner for Justice and Attorney-General of Delta State, Mr. Peter Mrakpor, by a former Minister of State for Education, Mr. Kenneth Gbagi.

Mother Stabs Two Children to Death in Kano Ibrahim Shuaibu in Kano The Kano State Police Command yesterday confirmed that a 26-yearold woman, Mrs. Hauwa Habibu, allegedly stabbed her two kids to death in Kano. The Spokesman of the Police Command, DSP. Abdullahi Haruna, told THISDAY that the State Commissioner of Police, Mr. Habu Ahmad Sani, has ordered the case to be transferred to the

homicide section of the State Criminal Investigation Department (SCID), for discrete investigation. Habibu was alleged to have stabbed her children over a dispute with her husband, Mr. Ibrahim Haruna Aminu, who married another wife recently. The incident occurred at Diso Quarters in Gwale Local Government Area of Kano State. An uncle to the deceased children, Mr. Sadiq Haruna

Aminu, also alleged that Habibu has been living with envy and jealousy ever since his brother married another wife. “The children were stabbed severally by Hauwa and this was confirmed by Zainab, the eldest of the children that is 10 years old,” Sadiq alleged. The ward head of Diso quarters, Mr. Ahmad Bello, said that the incident occurred when the husband was away in his new

wife’s home early on Saturday. Haruna also confirmed that on Saturday, October 3, the police received information that the suspect allegedly stabbed her two children to death with a cutlass. The victims, according to the police, were identified as Yusuf Ibrahim, 6, and Zuhra Ibrahim, 3, and were rushed to the Murtala Muhammad Specialist Hospital, Kano were they were confirmed dead by doctors on duty.

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

MONDAY OCTOBER 5, 2020 â&#x20AC;¢T H I S D AY

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

MONDAYSPORTS

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

Onuachu Picked to Replace Osimhen for Algeria, Tunisia Friendlies Duro Ikhazuagbe KRC Genkâ&#x20AC;&#x2122;s forward, Paul Onuachu, has been picked to replace Victor Osimhen in Nigeriaâ&#x20AC;&#x2122;s squad for this weekâ&#x20AC;&#x2122;s

RESULTS

PREMIER LEAGUE Leicester 0-3 West Ham Soâ&#x20AC;&#x2122;thampton 2-0 West Brom Arsenal 2-1 Sheffield Utd Wolves 1-0 Fulham Man Utd 1-6 Tottenham Aston Villa 7-2 Liverpool LALIGA Osasuna 2-0 Celta Vigo Alaves 1-0 Bilbao Levante 0-2 Real Madrid Barcelona 1-1 Sevilla SERIE A Atalanta 5-2 Cagliari Benevento 1-0 Bologna Lazio 1-1 Inter Milan Parma 1-0 Spezia Juve v Napoli (PP) LIGUE 1 Montpellier 0-1 Nimes Bordeaux 3-0 Dijon Brest 1-0 Monaco Metz 3-1 Lorient Strasbourg 0-3 Lille Rennes 2-2 Reims

international friendlies against Algeria and Tunisia in Austria. The official Super Eagles Twitter handle announced Onuachuâ&#x20AC;&#x2122;s late call up yesterday morning without giving details why the new Napoli player was replaced. â&#x20AC;&#x153;@victorosimhen9 has been excused from @NGSuperEaglesâ&#x20AC;&#x2122; games against Algeria and Tunisia. His replacement is Paul Onuachu. #Team9jaStrong #SoarSuperEagles ,â&#x20AC;? reads a tweet on the official Twitter handle of the NFF. The lanky forward who scored in his debut for Super Eagles against Egypt in an international friendly in Asaba has been in super form, emerging player of the month of September in the Belgian Jupiler league. After he was overlooked in some of Nigeriaâ&#x20AC;&#x2122;s games last year due to his indifferent showing at last yearâ&#x20AC;&#x2122;s AFCON in Egypt, Onuachu has bounced back to top reckoning with seven goals in six league matches for Genk in the Belgian top flight this season.

The spike in Covid-19 cases across Europe has been tipped for why the NFF may have excused Osimhen from the international friendlies in Austria. Napoli stars Piotr Zielinski and Eljif Elmas tested positive for Covid-19 following the sideâ&#x20AC;&#x2122;s 6-0 win against Genoa penultimate Sunday. The entire Napoli squad, including Osimhen will selfisolate for 14 days to guide against the spread of the virus. Napoli however could not

get their fixture with Juventus yesterday postponed despite their scary Covid-19 situation. According toFootballitalia.com, the Italian topflight league ruling body, Lega Serie A, released a statement on Friday confirming that Juventus versus Napoli must go on. According to the report, â&#x20AC;&#x153;The Serie A and UEFA protocols state that as long as a team has 13 players, including at least one goalkeeper, the match can go ahead.â&#x20AC;?

Meanwhile, the Algeria Football Federation has announced that their friendly game against the Super Eagles will be played behind closed doors. The soccer house confirmed the news via a statement on its official website at the weekend. The encounter will take place at the Jacques Lemans Arena, Austria on Friday, October 9. â&#x20AC;&#x153;Due to the many requests it has received on this subject, the Algerian Football Federation

(FAF) regrets to inform the general public, in particular the supporters of the Greens established in Europe, that the two matches Algeria â&#x20AC;&#x201C; Nigeria (October 9) and Algeria â&#x20AC;&#x201C; Mexico (October 13) will take place without the presence of the public (behind closed doors),â&#x20AC;? reads the statement. Nigeria face Algeria on Friday, October 9, before they take on Tunisia in another friendly four days later at the same venue.

Top Junior Players Back to Restart their Tennis Careers Nigeriaâ&#x20AC;&#x2122;s top junior tennis players will be given opportunities to restart their tennis careers after months of full and partial lockdowns occasioned by the Covid-19 pandemic. The 2020 CBN Junior Championship will kick-start the restart at the 3,000 capacity Lagos Lawn Tennis Club from Tuesday, October 6 to Sunday, October 11. The tournament will feature the best players in three age categories â&#x20AC;&#x201C; boys and girls 12s, 14s and 16s. â&#x20AC;&#x153;Most of the juniors who had been on a forced holiday had used the period to improve their fitness and skill levels and have been dying for an opportunity to express themselves. This tournament will give them a new lease of life and put them in good spirits to resume school,â&#x20AC;&#x2122; a statement from the International Tennis Academy (ITA), organisers of the championship announced yesterday. The Academy said adequate arrangements have been made to ensure the comfort and safety of

the players as they will be housed in a dedicated hotel and the 3,000 capacity tennis facility will be more than adequate to swallow the expected 150 participants. â&#x20AC;&#x153;Happily, tennis lends itself to social distancing and the LLTC with 3,000 sitting capacity and nine courts is a perfect facility,â&#x20AC;? the Academyâ&#x20AC;&#x2122;s statement added. According to the organisers, all players and their coaches and parents will be supervised to observe the extant health protocols. â&#x20AC;&#x153;Masks will be provided daily for them to wear when they are not playing, along with hand washing and sanitizing fluids. â&#x20AC;&#x153;In addition, all persons coming into the club will undergo temperature checks without exception by qualified medical personnel. â&#x20AC;&#x153;We have so much tennis talent in Nigeria and we cannot wait to have them on theworldcircuitwhere they can compete for the millions of dollars available as prize money. We owe them to do all in our power to hasten that process,â&#x20AC;? the Academy concluded.

Paul Onuachu has been selected to replace Victor Osimhen in Super Eagles squad for this weekâ&#x20AC;&#x2122;s international friendliest with Algeria and Tunisia in Austria

Mourinho Humiliates Man Utd at Old Trafford Jose Mourinho returned to Manchester United and humiliated his old club as Tottenham came from behind to record a famous 6-1 win at Old Trafford. Son Hueng-min and Harry Kane scored twice, with Tanguy Ndombele and Serge Aurier also on target as 10-man United suffered their

worst defeat since they were memorably hammered 6-1 at home by Manchester City in 2011. It meant it was not only the heaviest defeat since Ole Gunnar Solskjaer took temporary charge in December 2018, but also the largest United have suffered since Ed Woodward took over as

executive vice-chairman in 2013. The result leaves United 16th in the Premier League table, with newly promoted Fulham and West Brom the only clubs with a worse goal difference. Only West Brom have conceded more than their 11 goals. United were completely outplayed, even before they were reduced to 10 men

Oshoalaâ&#x20AC;&#x2122;s Barca Femeni Hammer Real Madrid in First â&#x20AC;&#x2DC;Clasicoâ&#x20AC;&#x2122; Barca who were crowned

Femi Solaja with agency report

Super Falconsâ&#x20AC;&#x2122; Captain and reigning African Footballer of the Year, Asisat Oshoala and the rest of her Barcelona Femeni began their domestic league campaign on a bright note yesterday as they hammered Real Madridâ&#x20AC;&#x2122;s womenâ&#x20AC;&#x2122;s team 4-0 at home in the first â&#x20AC;&#x2DC;Clasicoâ&#x20AC;&#x2122; in the Primera Division. The Nigeria forward who was one of the top scorers for the defending champions was however not on scoring sheet as she came in for Jennifer Hermoso in the 72nd minute. She was part of the action that led to fourth goal of the match. Meanwhile, another Nigerian player, Chioma Ubogagu was unused player for Real Madrid as she sat all through and watched the away side pummel her teammates all through the maiden El Clasico.

champions when last season ended prematurely due to the coronavirus pandemic, dominated play from the start in the match played at Ciudad Real Madrid ground and took the lead in the 18th minute with a deflected strike from the edge of the area by Patricia Guijarro. Madrid looked to have levelled when Sweden international Kosovare Asllani netted from close range after a spill from Barca goalkeeper Sandra Panos, but the goal was ruled out for a foul on the keeper amid angry protests from the home side. Barca extended their lead early in the second half when Madrid defender Babett Peter diverted the ball into her own net after goalkeeper Misa Rodriguez had parried a cross from Barcaâ&#x20AC;&#x2122;s Norway international Caroline Graham Hansen.

Tottenham Hotspur players celebrating their 6-1 defeat of Manchester United at Old Trafford...yesterday

midway through the first-half when Anthony Martial dragged his hand across Erik Lamelaâ&#x20AC;&#x2122;s face in reaction to an elbow in his neck. In contrast, Tottenham moved up to fifth after emerging from a packed schedule of five games in 11 days in three competitions with a creditable four wins and a draw.

MONDAY, Í˝Ë&#x153; ÍşÍ¸ÍşÍ¸ Ëž T H I S D AY

TRIBUTE

Boss Mustapha: Stabiliser, Coordinating Govt Bureaucracy Tajudeen Kareem ''I am writing to personally recognise your competence and commend the way you organised and led the ministers' Retreat. The benefits derived from the committee's discussions were enormous, and the added values to the ministers' and Permanent Secretaries' experiences very much appreciated. ''Your comprehensive speech at the beginning of the second day of the retreat proved your capacity and experience. For those of us who missed the first day of the retreat, the speech adequately prepared us for the second and final day of the occasion. I am happy to write this short letter of appreciation to you because I am very impressed with your performance". President Muhammadu Buhari gushed effusively in commendation to the Secretary to the Federal Government, Boss Mustapha soon after the successful handling of the 2020 Ministerial Retreat. It was rare but fitted the emerging profile of a tried and tested bureaucrat who gets things done unobtrusively. A knack for exploring peaceful interaction and cooperation for the common good motivated his visit to then-Senate President, Bukola Saraki and House Speaker, Yakubu Dogara just days after his inauguration as the Secretary to the Government of the Federation. Subsequently, he espoused his philosophy on political aspirations and accession to the highest office in the land, the Presidency, based on dialogue and negotiations with all power blocs, at a meeting with a delegation of South-East leaders. Walking the talk, Boss Mustapha has discharged his duties with panache, competence, patience, dedication and total commitment to the realisation of the yearnings of Nigerians for quick delivery of the dividends of democracy. As the coordinator of the machinery of the federal government, he has passionately tasked ministers and other aides to deliver on Mr President's promises to Nigerians; regarding such as a sacred duty to the populace. At the recent Ministerial Retreat in Abuja, Mustapha identified nine priority areas critical to attaining the objectives of good governance: building a thriving and sustainable economy; enhancing social inclusion, reducing poverty; enlarging agricultural output for food security and export, attaining energy sufficiency in power and petroleum products as well as expanding transport and other infrastructural development. Others are expanding business growth, entrepreneurship and industrialisation; access to quality education, affordable healthcare and productivity of Nigerians; building a system to fight corruption, improving governance and creating social cohesion; and enhancing security for all. Barely three years in the saddle, Mustapha has functioned as the â&#x20AC;&#x2DC;stabiliser' and the non-controversial intellectual bulwark in the Buhari administration. His appointment as Chairman of the Presidential Task Force on COVID-19 gave the public some peep into his flair for hard work, diligence and commitment. It is no surprise that the committee's painstaking national mobilisation effort has stemmed the feared havoc of the global pandemic on the nation. It fetched him the gratitude of the country. President Buhari joined the ruling All Progressives Congress (APC), and the Federal Executive Council to celebrate the SGF at his 64th birthday anniversary recently. He greeted "family, friends, professional and political associates of the legal luminary, party stalwart and Chairman of the Presidential Task Force on COVID-19, whose visionary and inclusive leadership style continues to strengthen the governing party and the administration, with remarkable results." The president affirmed: "Mustapha has provided strong and commendable leadership as a rallying point for the Federal Executive

Mustapha

Council and demonstrated high-level patriotism by accepting the demanding position of chairing the Presidential Task Force on COVID-19. He congratulated him and the team for steadily guiding Nigerians amid health and economic uncertainties." With sincerity and deep understanding of their invaluable roles, the SGF has engaged traditional rulers, religious leaders, governors and foreign envoys with open arms and a listening ear to broaden and enrich the quality of governance. It is not surprising then that the Ministerial Retreat he convened recently elicited another glowing acknowledgement of his boss in a

rare open letter of commendation. He has brought that knack for successful management of the many interests in teams and groups to the Presidential Task Force on Covid19. The scope is as broad as the primary remit of the Secretary to the Government of the Federation. The PTF on COVID-19 comprises technical and administrative experts from various fields. Add the states and local governments with their different healthcare and ancillary professionals. Boss Mustapha was able to forge a structure and systems that work. The result has been an outstanding success in the management of the pandemic by

The president afďŹ rmed: "Mustapha has provided strong and commendable leadership as a rallying point for the Federal Executive Council and demonstrated high-level patriotism by accepting the demanding position of chairing the Presidential Task Force on COVID-19. He congratulated him and the team for steadily guiding Nigerians amid health and economic uncertainties"

Nigeria. The statistics are revealing. Nigeria has achieved 96 per cent success in tracing victims while activating 71 laboratories to conduct tests nationwide. It is one of the many that make up the African success story that Western experts and analysts consider surprising. The results and backing data do not surprise the team at the Presidential Task Force on COVID-19. Coordination is the robust suite of the Presidential Team. It has managed successfully the efforts to bring all stakeholders to a standard table to tackle the national emergency. They include states and local governments, health sector stakeholders, players in the private sector as well as development partners. Effective coordination has earned the confidence and trust of all. Mustapha is a lawyer, management consultant, politician, businessman and boardroom guru of high repute and considerable experience. Born in Adamawa State, Mustapha attended Hong Secondary School, Adamawa State and North East College of Arts and Science, Maiduguri, Borno State, crowning it with WASC and HSC in 1976. He earned his Bachelor of Law (LL.B) from Ahmadu Bello University, Zaria, in 1979 and was called to bar in 1980. From 1980 to 1981, Mustapha did the compulsory National Youth Service Corps at the Directorate of Legal Services at the Army Headquarters and was in charge of the review of Court Marshall Proceedings. After his National Service, he joined Sotesa Nigeria Limited, an Italian consultancy firm, as an Executive Director in charge of Administration, leaving in 1983 to join the law firm, Messrs Onagoruwa & Co in Lagos. With his law practice in full bloom, Mustapha became a principal counsel in the firm of Messrs Mustapha & Associates. His legal interests and expertise spanned privatisation and commercialisation of public companies and government parastatals. He was also involved in the preparation of various and miscellaneous banking documents such as debentures, guarantees, mortgages, bonds and loan syndications. One of his career highlights was his appointment as a member of the Interim Management Committee of the defunct Petroleum (Special) Trust Fund, serving meritoriously from 2000 to 2007. At the PTF, he was responsible for the production of an up-to-date comprehensive project and programme report, including location, coverage and whether performed, performing or abandoned production of the final information of assets and liabilities, the examination of the administrative structure and cost-effectiveness of PTF projects and services, among other duties. Recall that Mustapha also played key leadership roles at the Nigeria Bar Association serving as Social Secretary and Chairman at the Yola branch. Not surprising, therefore, after his stint at the PTF in 2007, he returned to full legal practice and was appointed principal partner at Adroit Lex, a thriving law firm. With a burning desire to serve the larger society, he was at various times, a member of the Constituent Assembly (1988-1989), Chairman, People's Solidarity Party-Gongola State (1989-1990), State Chairman, Social Democratic Party, Gongola State (1990-1991) and emerged the gubernatorial candidate for SDP in Adamawa State in 1991. He was the Deputy National Chairman of the defunct Action Congress of Nigeria from 2010 to 2013. He was Secretary, APC Presidential Campaign Organization Mobilization (2015) and member, APC Transition Committee (2015). He is also a member, APC Board of Trustees. He served as Managing Director of Nigeria Inland Waterways Authority from June 2016 till 30 October 2017, before he was appointed the SGF. r,BSFFN JT B NFEJB DPOTVMUBOU JO "CVKB

MONDAY OCTOBER 5, 2020 â&#x20AC;¢ T H I S D AY

Monday October 5, 2020

UT H

& RE A SO

Price: N250

MISSILE

Afenifere to ACF

“The ACF are insensitively arrogant to say clamouring for a settled society is an insult to them. Are they savages? God should forgive us the sin that made Him to lump us in the same country with these types” – Pan Yoruba socio-cultural group, Afenifere, condemning the comments by ACF that those calling for the restructuring of Nigeria are insulting the North.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

Nigeria at 60: What Has Colonialism Got to Do With It? The reason your life stays the same is because you think everyone else is the problem. Stop ȱę ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ¢ ȱ accept responsibility for it –Steve Maraboli

igeria turned 60 last Thursday, 1st October 2020. While the few born on that same date sixty years earlier, and lucky enough to secure some of the scarce jobs in Nigeria, were celebrating their retirement, the debate was just beginning on whether the nation was ę ¢ȱ ȱ ȱ ȱ ȱ ȱ ǯȱȱ ¢ȱ ǰȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ been enrolled in its civil service, it should be ę ȱ ȱ ȱ ¢ȱ ǯȱ ǰȱ 60 is a milestone birthday which is worth ǯȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ share in the reveling and it is within their ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ě ȱ ȱ ȱ ǯȱ ǰȱ ȱ ȱ ȱ ǰȱ it is all about the economy then there is no ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ȱ decades, it has been anything but visionary. There is therefore, enough reason for anyone ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ¢ǯ ȱ Ĵ ȱ ȱ ȱ ȱ ȱ ¡ ȱ what is wrong with this adult, which ordinarily ę ȱ ȱ ȱ Ĵ ȱ ȱ ȱ ȱ ȱ ȱ Citizens, but which sadly still has its bum in ȱ ȱ ǯȱ ȱ ¡ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ę ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ the blame on British colonialists who granted ȱ ȱ ȱ ŗşŜŖǯȱ ȱ ȃ Ȭ Ȭ Ȭ Ȅȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ǰȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ȱ ȱ to hear comments about the creation of the ȃ Ȅȱ ȱ ȱ ȱ ŗşŗŚǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Protectorates were merged. This argument goes further to say that the crafty oyibo knew that the union was going to be dysfunctional ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ weather, culture, tribe, religion and world view. ȱ ȱ ǰȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ These theorists insist that the only reason the ȱ ȱ ȱ ȱ ¢ ȱ ȱ ¢ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ę ȱ ǯȱ ȱ ǰȱ ȱ ȱ ȱ ȱ whole essence of the union was to set the stage for the eventual crisis which would give them ȱ ¡ ȱ ȱ ȱ ȱ Ȭ ȱ ȱ ȱ ȱ that the new country could not govern itself. ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ on the face of it. ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǰȱ ȱ ȱ ę ȱ ȱ ȱ Ȃ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ǯȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ to end colonial rule had been won and the ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ £ ȱ from the East, went to London to collect the ȃ Ȅȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ǰȱ ȱ ȱ ȱ ȱ ǯȱ ¢ȱ ¢ȱ ȱȱ ȱ ȱ Ȭȱ ȱ ȱ ¢ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ

Buhari ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ¢ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ believe that it was the colonial authorities that ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱŗşŜŖǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ was them who made sure that we had a false ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱę ȱ ǯȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ Ĝ ȱ ȱ ȱ ȱ ȱ ¢ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ę ȱ ¢ȱ ȱ ȱ ¢ȱ ŗśǰȱ ŗşŜŜǰȱ ¢ȱ śȱ ¢ ȱ ȱ řȱ ȱ ȱ ǯȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ kill by the colonialists so they shot and killed many of the leaders of that time, again at the behest of the colonial masters. ȱ ȱ ȱ ȱ ȱ ǰȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ę ȱ ¢ȱ ȱ ȱ ǰȱ ȱ ¢ ȱ ǯȱ To ensure that there was confusion everywhere, ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ Ȭ ȱ ȱ ȱ colleagues and installing another military Head ȱ ǯȱ ȱ Ȭ ȱ ǰȱ ȱ ȱ engineered disagreement and subsequent killing of one section of the country by the other and ȱ ȱ ȱ ȱ ȱ ȱ ȱ the Nigerian civil war. Their interest in this war was to sell their arms to the stronger side and have access to the natural resources of the country. They assured the stronger side that ȱ ȱ ȱ ȱ ȱ ȱ Ĵ ȱ ȱ ȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ it turned out, the war lasted for almost three ¢ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ it. Five years after the civil war, they again ȱ ȱ ȱ ȱ ȱ ȱ of government, and a year later, yet another ¢ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ general after another who were loyal to the ever conniving oyibo. When the country insisted on having democratic rule, they reluctantly agreed but being their usual mischievous selves, ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ¢ȱ ¢ȱ ǰȱ ¢ȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ who they were to discover only later, was not going to do all their biddings. They then corrected this error of judgement by quickly terminating his government and bringing in

ȱ ǰȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ Ȭ ȱ ȱ ȱ ¢ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ǰȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ willing to have any of that, they ensured that ȱ ȱ ȱ ǯȱ ¢ȱ Ě ȱ ȱ Ȭ ȱ ȱ ȱ ¢ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ¢ȱ ȱ ȱ ȱ ǰȱ ¢ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ěȱ ȱ ȱ ȱȁ ȱ Ȃȱ ǯ ȱ ȱ ȱ ȱ ȱ ȱ just for a year and handed over to Obasanjo ȱ ȱ ȱ ȱ ȱ ȱ Ĝ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ for two terms and handed over to Yaradua ȱ ȱ ȱ Ĝ ǯȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĝ ȱ ȱ ȱ ȱ ȱ

ȱ ȱ ȱ ǯȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱę ȱ ȱ ¢ȱ ȱ ȱ for Buhari to stage a comeback and here we ǰȱ ¢ ȱ ȱ ȱ ¡ ȱ ¢ȱ ȱ ǰȱę ȱ ȱ ȱ ȱ ȱ ȱ which is over and above everything. Let us even for a moment believe that all these are correct. One would want to ask a ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ǵȱ ȱ ¢ȱ ȱ ȱ ȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱȁ ȱ Ȃȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǵȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ £ ǰȱ ȱ ȱ ȱ ¢ǰȱ ȱ ȱ ¢ȱ ǵ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ourselves whenever we are looking for excuses. ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ǵȱ ȱ come the standard of education in this country ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ 10 universities in Nigeria are ranked between ŗŘřřȱ ȱ řŗŞŘȱ ȱ ȱ ǵȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ Ŝȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ¢ȱę ȱŚȱ ǯȱ ȱ ȱ ȱ ¢ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱŗŖǯȱ ȱ ȱ universities managed to come in at No.5 and ǯȱ ŗŖǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǵȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǵȱ ¢ȱ ȱ we not worried about the quality and standard of education which has continued to decline at ȱ ȱ ȱ ȱ ǵȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ¢ ȱ when last you visited your alma mater. This question is more for those who left school ȱ ȱ ǯȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ¢ ȱ Ĵ ǵȱ ¢ȱ ȱ ¢ȱ education in the country are not left out of the ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ send our children and wards to be educated ȱ ȱ ǵȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ¢ǵ ȱ ȱ ȱ Ĵ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ¢ ǵȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ Ȃ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ Ĵ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǵȱ ȱ ȱ ¢ȱ ǰȱ

did someone ask us to watch our generation ¢ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ŗŘǰśŖŖȱ Ĵ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ŚǰŖŖŖȱ ȱ śǰŖŖŖȱ Ĵ ǵȱ ȱ ȱ need to be told that the less the electricity we ǰȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ǵȱ Ȃ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ę¡ȱ ȱ ȱ ǵȱ ȱ ȱ ȱ ¢ȱ ȱ ę ȱ ȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ę ȱ ȱ ȱ ȱ ȱ ȱŘŖƖȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ǵȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ǵȱ ȱ ȱ ȱ ȱ ę ȱ ȱ ǵȱ ȱ ȱ ȱ Ȭ industrialisation of the country where most of ȱ ȱ ȱ ȱ ȱ ȱ of goods and services have either been left ȱ ¢ǰȱ ǰȱ ȱ ¢ȱ ǵȱ ȱ ȱ ¢ȱ ȱ Ĵ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ¢ ȱ ǵ ȱ ¢ ȱ ȱ ȱ ȱ ¢ ȱ ȱ economy given all the human and material ȱ ȱ ¢ȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵ ȱ ȱ ȱ ǵȱ ¢ȱ Ȃ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ ¢ȱ ¢ ǵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ world and assuming they did, how come we Ȃ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ ȱ ȱ ȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ǵȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ long, how come we have graduated to what ȱ ȱ ȱȃ ȱ ȱ ȱ ȱ Ȅǵȱ ȱ ȱ ¢ȱ ¡ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ¢ȱ all the sectors such that almost everything and ¢ ¢ȱ ȱ ȱ ȱ ȱ ǵ The summary question to us is did the ȱ ȱ ȱ ȱ ȱ ¢ǵȱ ȱ ¢ȱ ¢ ȱ ȱ ȱ ȱ ȱ Ȃ ȱ ȱ ȱ ě ȱ ȱ ȱ ȱ ȱ ǵȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ȱ ȱ ¢ȱ ȱę¡ ȱ our dear country. We have chosen to do the ¢ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ blame. We could justify those excuses in ȱ ¡ ǰȱ ȱ ȱ ¢ȱ ǯȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȃ ȱ ȱ ȱ Ȅǰȱȃ ȱ ȱ ȱ ȱ Ȅȱ ȱ ȱ ǯȱ ¢ȱ ¢ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ colonialism in 2020. Even where all the ills ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ¢ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ¢ ȱ ǰȱ ¢ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ¢ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ the country has remained an infant that has ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ Ĵ ȱ ȱ ȱ ȱ ȱ to lie and those who know, have refused to ȱ ȱ ę ȱ ȱ ȱ ę ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯ ȱ ȱ ǰȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ȱ ȱ ȱ ȱ Ƿȱ ȱ ȱ ǰȱ ¢ȱŜŖ ȱ ȱ ¢ȱ ȱ ǯ

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com