MONDAY 16TH NOVEMBER 2020

Analysts Allay Fears of Nigeria’s Default as Eurobond Investors Fret Zambia's failure to honour coupon payment triggers concerns Obinna Chima Analysts have allayed concerns about the likelihood of Nigeria defaulting on its Eurobond payments to investors even as investors in the debt

instrument issued by African countries have adopted cautious trading.

The assurance came against the backdrop of the announcement last Friday by Zambia that it would not pay

an overdue Eurobond coupon after a 30-day grace period elapsed.

Zambia failed to pay a $42.5 million coupon on one 2024 dollar-denominated sovereign bonds that was due last

month. As a result of this, the Zambian government had requested that bondholders deferred interest payments until April as it struggles to secure funding from the International Monetary Fund

(IMF) as well as debt relief from other creditors. But the creditors rejected the Zambian government's request.

ZAMBIA 2024 and 2022 Eurobonds were the worst performing instruments in the

continent last week as their yields climbed 0.5 per cent and 1.2 per cent week-on-week respectively.

But speaking in an interview Continued on page 10

NNPC Reports N86bn Rise in August’s Operating Expenditure... Page 8 Monday 16 November, 2020 Vol 25. No 9352. Price: N250

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States Cautious on Ending Ex-govs, Deputies’ Pension Seriki Adinoyi in Jos, Ibrahim Shuaibu in Kano, David-Chyddy Eleke in Awka, Daji Sani in Yola, Innocent Onuminya in Sokoto, Arinze Gideon in Enugu and Okon Bassey in Uyo

GRATEFUL HEARTS...

L-R: Edo State Governor, Mr. Godwin Obaseki; his wife, Betsy; Deputy Governor, Hon. Philip Shaibu; his wife, Maryann, during the Alaghodaro/ Inauguration 2020 Thanksgiving Service in Benin City…yesterday

Despite the dwindling revenues of states and their inability to effectively meet workers’ demands and other obligations, many state governments are unwilling to repeal the laws that legalised the payment of pension and other benefits to former governors and their deputies, THISDAY investigation has shown.

Inquiries by THISDAY against the background of the move by the Lagos State Continued on page 10

Prominent Nigerians Mull Southern Presidential Candidates for 2023 Lobby APC, PDP to field aspirants from South Consult Obasanjo, IBB, Gowon, others Say nation’s unity, political stability non-negotiable Iyobosa Uwugiaren in Abuja With political activities over 2023 general elections gradually picking up, prominent Nigerians led by a northern elder-statesman,

are making nationwide consultation to ensure that political parties, especially the major ones like, the Peoples Democratic Party (PDP) and the All Progressives Congress (APC) field southern

presidential candidates in the race.

The concern of these prominent Nigerians, according to THISDAY’s findings, is to make sure that the South – any of

South-south, South-west and South-east, produces the next president of the country in order to continue to sustain the unity of the country and douse the current burning political tension.

An insider, close to the initiative, told THISDAY that these prominent Nigerians had in the past few days met with former presidents, military Heads of States, traditional/ religious leaders of different

faiths, business moguls and other stakeholders, who were said to have bought into the idea.

“The group, headed Continued on page 10

FG, ASUU's Feud Deepens, No Date for Resumption of Negotiations...Page 5

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

FG, ASUU’s Feud Deepens, No Date for Resumption of Negotiations Ngige rejects multiple payment platforms for university workers

Onyebuchi Ezigbo, Kuni Tyessi in Abuja and Uchechukwu Nnaike in Lagos The feud between the federal government and the Academic Staff Union of Universities (ASUU) has worsened as no date has been fixed for resumption of negotiations by the two parties.

With this development, there is no end in sight for the resolution of issues that led to the protracted nine-month- old strike by ASUU. The union went on strike to pressure the federal government to address its concerns about remuneration, working conditions, earned allowances and obsolete infrastructure, amongst others.

Also, amidst agitations by unions in federal universities for a sector-specific salary payment platform, the Minister of Labour and Employment, Senator Chris Ngige, has kicked against multiple technology-driven payment platforms. He said any such device must align with the existing Integrated Payroll and Personnel Information System (IPPIS).

The Permanent Secretary to the Federal Ministry of Education, Mr. Sonny Echonu, told THISDAY in Abuja at the weekend that the lingering strike is uncalled for and unnecessary, as all the contending issues have been resolved except one.

But ASUU National President, Prof. Biodun Ogunyemi, in an interview yesterday, faulted the permanent secretary’s claims.

He also warned that the federal government's poor handling of the industrial crisis could lead to another wave of brain drain, adding that already, Ethiopia has recruited over 200 Nigerian professors.

Echonu said reason is expected to prevail as the overall national interest will be the guiding principle in resolving the industrial dispute.

"The government is working very closely. We are very concerned and the president is very concerned about this protracted strike, which to so many of us is unnecessary. We believe there are other ways of getting things done.

"There's a shared acceptance of so many of the issues and we are at a point that very quickly and soon, it will be resolved. There's only one issue in contention, really.

The other issues have either been resolved or there have been some kind of compromise that worked out.

"We believe that reason will prevail and the overall national interest will be the guiding principle in coming to a quick resolution. I can assure you that work is going assiduously in this.

"Only two days ago, the ASUU executives were at

the ministry to meet with the minister for certain consultations and we felt we needed to tell them exactly what our positions are.

"We will look at the overall interest of the Nigerian people.

We know that we also operate in a context of government playing out different segments even in the university setting.

"We have four different unions making demands and we have to balance this. We understand the peculiarities of ASUU and we believe the members are patriotic enough to know when to call it quits and what to call a compromise," he added.

Reacting, Ogunyemi told THISDAY that pending issues such as withheld salaries of members by the Account General of the Federation and announcement of negotiating teams, among others, have not been resolved.

He said government is eager to sign Memorandum of Understanding (MoU) “with low-priced countries of yellow skin while the nations universities are treated with disdain.�

He added that a second aspect of brain drain on the nation will have a crippling effect on the academia and the entire nation.

According to him, Ethiopia has already engaged about 200 Nigerian professors.

He said: "That is not entirely correct. I can say we are talking but none of our issues have been addressed to a logical conclusion. You should have asked him (Permanent Secretary) whether they had paid salaries of our members that government withheld.

You should have asked him whether they have paid the (EAA) Earned Academic Allowance that they promised to pay. You should have asked him whether they have announced the negotiating team that they promised to announce. You should have also asked him whether they have presented the visitation panel.

"So, what our members are saying is that if each time we go on an action like this, government will make promises and sign memorandum of action and they will keep it for the next two weeks, two or even three months and will promise we will get revitalisation. They will say EAA will be paid because we have agreed on the framework of payment.

After that, they will go to sleep. Our members are saying that this time around, they don't want promises. They want action. So, there is a difference between saying we have addressed all the issues and we have delivered on all of the issues.

"The key word here is to ask them what they have delivered concretely and when they delivered it. So,

EMPOWERING HUMAN RESOURCES...

L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu and Speaker, House of Representatives, Hon. Femi Gbajabiamila, during the opening of a two-day training for health workers in Lagos‌ yesterday at this point, can we tell our members to go back to classes when their salaries have been withheld? Can we tell them to go back to classes when the Accountant General took most of their salaries and have refused to remit?

When government has taken steps to cripple our union?

When government is taking steps to stall our progress? So it is not enough to say they have addressed the issues.

Each time government says "we have addressed", it means we have talked about this.

"Our members want government to deliver on its promises so that no one will blame us again next year and say we are back again in strike after how many months. There has to be stability in the system so that private universities will not bask over our students because they are happy we have crisis. If not because of public universities, I can assure you that most of the private universities will be shut.

But we are expecting solution between public universities and the government. So it is not about we have talked or we are talking. It's about we have delivered.

"Our members want to see that government has not just delivered but has satisfactorily delivered. Yes, we are talking on various levels and until we see the results of those discussions, our members cannot go back to the classrooms," he said.

On the issue of patriotism and national interest, which the federal government said will be the guiding principle in resolving the strike, Ogunyemi said: "Everything ASUU is doing is informed by patriotism. Every time government officials say they are working in the interest of the nation, we always remind them where they have placed education in the interest of

the nation. If they prioritise education, they will have no reason to attack ASUU. Education is the driver of progress in everything in life. This country is aspiring to develop. They are talking of local content. They said we should look inward. How can you say we should look inward when you are treating your scholars as if they are irritants, as if they are nonentities and hoodlums? We want to remind them that each time they talk about interest of the nation, that they don't love this country more than Nigerian scholars.

"If not for patriotism, our members would have abandoned universities and flee to better countries where they will be better treated. Do you know the number of African countries looking for Nigerian professors? A few months ago, Ethiopia came to recruit 200 professors from Nigeria. I don't want to talk of South Africa.

Go to Ghana, Egypt, you will see them there. We treat our scholars with discontent. Each time they step out, they are highly valued and highly priced. The government is eager to sign MoU with low priced countries of yellow skin, but their universities where they should draw the partnership they are looking for, they have treated with disdain. No country in the world does that.

"Universities are incubating centres for innovation, creativity, and development.

So, if anybody thinks that ASUU does not love this country, that person should be interrogated to define the concept of patriotism. ASUU members are great patriots and deserve all the respect the nation can accept them.

"I totally disagree with the permanent secretary.

Everything ASUU is doing is in the interest of the nation.

If we allow our universities

to collapse, I can assure you that the children of the poor will suffer and the nation will pay dearly for it. We are yet to recover from the brain drain experienced. I don't think they should allow us to suffer the second aspect of brain drain.

But we can understand if the ruling class does not care if universities should collapse."

Meanwhile, ASUU also yesterday denounced the Twitter account, registered in its name, which asked students of public universities to prepare for resumption as a positive outcome is expected from the union on Wednesday.

Ogunyemi described the information as fake news, saying that the union does not operate any Twitter account.

"Those people are impersonators, they are impostors. They are using that Twitter handle and other Twitter handles to create confusion. So, we don't know anything about the Twitter handle and we never said what they are attributing to us.

"That is not the way we share our information; we have a way of sharing our information and that is why we are advising our friendly media to always double check with us anything they are in doubt of. ASUU will never say any such thing on Twitter," he added.

Ngige Rejects Multiple Payment Platforms for Universities Ngige opposed multiple payment platforms for the various unions in the universities, saying that having such multiple technologydriven payment platforms is being discouraged globally.

A statement yesterday by the minister's Special Assistant on Media, Mr. Nwachukwu

Obidiwe, said Ngige spoke in Abuja when the immediate past President of the Senior Staff Association of Nigerian Universities (SSANU), Mr. Samson Ugwoke and his successor, Mr. Mohammed Ibrahim, visited him.

Ngige told the SSANU delegation that the federal government will look into the payment system as demanded by SSANU and the Non-academic Staff Union of Universities (NASU).

He, however, added that any of such systems must have a “handshake with IPPIS and other payment system in use by the federal government as having such technology work in silos is being discouraged even globally."

On his part, Ugwoke commended Ngige for the seasoned and dispassionate approach he has been handling trade disputes.

He said: "We are here to present the new president of SSANU and ask that you extend the patriotism, friendship and understanding which I enjoyed to my successor. Your understanding of various challenges facing Nigerian workers operating under different unions, the patience and transparency with which you mediate, reawaken hope in us that government is committed to the welfare of workers."

On the controversial IPPS payment platform, he informed the minister of SSANU’s alternative, the University General Peculiar Payroll Payment System( UGPPPS), which it developed in conjunction with the Non-Academic Staff Union of Universities (NASU).

He, however, said the union would reconsider its position if IPPIS would be updated to accommodate the peculiarities captured by UGPPPS.

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Senate Queries FIRS over Unremitted N1.4bn Tax, VAT Deductions

Deji Elumoye in Abuja

The Senate has issued two queries to the Federal Inland Revenue Service (FIRS) over its failure to remit N1.4 billion withholding tax and Value Added Tax (VAT) deducted from 33 Ministries, Departments and Agencies (MDAs) in 2015.

Its committee on Public Accounts, headed by Senator Mathew Urhoghide, issued the queries to the Executive Chairman of FIRS, Mr. Mamman Nami, who confirmed that the deductions were yet to be remitted.

The first query read in part: "N700.2 million Withholding Tax (WHT), which were deducted from 33 government MDAs, were not remitted to FIRS. This negates the provision of Financial Regulation 234 (III), which stipulates that officers who fail to provide for remit VAT and WHT due on vatable supplies and services shall be sanctioned under the applicable VAT Act No. 102 of 1993 which may include fine and/or imprisonment.

"The Executive Chairman has been requested that the

unremitted WHT of N700.2 million be deducted at source from budgetary allocations of the affected MDAs in line with section 24 of FIRS Act of 2007 empowering the Accountant-General of the Federation to make such deduction to the service."

In its response, FIRS confirmed that the deductions had not been remitted.

It said: "The total amount of N700.2 million Withholding Tax was deducted by 33 government MDAs but had not been remitted to the FIRS. Efforts are still being made by the service and the Debt Management Office (DMO) to advise the AccountantGeneral of the Federation to deduct at the source from budgetary allocations of the affected MDAs in line with the provisions of section 24 of FIRS Act of 2007."

The second query read: "N708.5 million of Value Added Tax was deducted from 31 government MDAs but was not remitted to FIRS." Responding, FIRS said plans were underway to deduct the VAT from budgetary allocations of

the MDAs. FIRS, in its response, said: "Efforts are still being made by the service and Debt

Management Office (DMO) to deduct at source from budgetary allocations of the affected MDAs in line with

the provisions of section 24 of FIRS Act of 2007."

The Senate committee is expected to meet soon to take

a stand on the reply of the FIRS to the two queries and make recommendations to the Senate.

BACK TOGETHER AGAIN...

Minister of State for Transportation, Senator Gbemisola Saraki (left), and her brother, former President of the Senate, Dr. Bukola Saraki, at the 8th remembrance of their father, former Senate Leader, Dr. Abubakar Olusola Saraki, in Ilorin...weekend

Discos Blame TCN for Irregular Power Supply Say losses jump to 45.7%

Emmanuel Addeh in Abuja Electricity Distribution Companies (Discos) have painted an unflattering picture of how the Transmission Company of Nigeria (TCN) contributes to the erratic power supply in the country, describing the only government-controlled company in the supply value chain as a major threat to the power sector.

The Discos, in their Q2 (2020) report, a copy which THISDAY obtained at the weekend, said apart from inconsistent improvements prompted by seasonal changes, the electricity wheeled to the power distributors remain largely poor.

The power distributors added that the Aggregate Technical, Commercial and Collections (ATC&C) losses increased to 45.7 per cent by the end of June, from 43.3 per cent in March, thus changing the declining

trend that had been achieved in the last three years.

The report by Association of Nigerians Electricity Distributors (ANED), the umbrella body of the Discos, said since 2015, the TCN had not improved on its capacity to transmit electricity to them (Discos).

It stated that whereas the Nigerian Electricity Regulatory Agency (NERC) gave the TCN a target to support the evacuation of power by about 50 per cent between 2016 and 2019, the company has performed by just about 13 per cent. “Since 2015, there has been no significant improvement in the energy generated and wheeled by TCN, that is finally received by Discos. It continues low and flat, only affected by a seasonal effect between the dry and rainy seasons. “The Discos’ uncertainty on the energy to be received from TCN has become a major threat and it will hurt the core of

their Performance Improvement Plans (PIPs) as many of the plans are based on the basis of the projections done by NERC at June´s Minor Review. “Moreover, NERC in the last TCN´s minor reviews stated that whereas the CAPEX provided to TCN in MYTO-2015 order was to support the evacuation of the average projected generation of 5,465MW in 2016 to 10,493MW in 2019, actual average generation remained between 3,500MW to 4,000 MW during the same period. “The energy to be received by the Discos continues to be flat, low and far from any of NERC´s projections under the MYTO financial model,� the report stated.

It noted that the historical projections of the MYTO model has remained inconsistent with the energy assumptions of the tariff model, adding that the misalignment has increased the tariff shortfall and accelerated

the sector’s liquidity crisis.

According to the report, the commercial performance improvement registered by the Discos within the last few quarters has been affected negatively by the impact of the COVID-19 lockdown, stressing that consequently, the Q2 collection efficiency dropped to an average of 64 per cent. “In particular, the collection efficiency in April was only 49 per cent, although it recovered to 76 per cent in June. In annual terms, the total collection is at N472 billion, slightly lower than the previous record of N482 billion, but still better than the previous period a year ago,� the report said.

On the ATC&C losses, the Discos stated that the moving average increased to 45.7 per cent by the end of June from 43.3 per cent in March, changing the declining trend that had been achieved in the last three

years.

ATC&C is the difference between the amount of electricity received by a distribution company from the transmission company and the amount of electricity for which it invoices its customers plus the adjusted collections loss. “The overall ATC&C losses moving average kept decreasing smoothly until February 2020 where it has reached a new record of 43.3 per cent; after which almost every Discos' ATC&C started to rise. “The Q2 ATC losses jumped from 19 per cent up to 31 per cent and therefore the energy billed dropped by N18 billion. At the same time, the Q2 collection efficiency also dropped to 64 per cent,� the report stressed.

It added that the number of registered end-users in NESI had been increasing, currently, at a rate of about 75,000 new customers per month (+10 per

cent in 2019, resulting in more than 9.5 million customers in total).

On a quarterly basis, the Discos noted that their collection dropped by N14 billion (-11.4 per cent) as a result of the COVID-19 pandemic and lockdown, adding that although the collection efficiency is still below 70 per cent, it has increased +3 points in the last year, reaching 69 per cent. “Importantly, the energy received by the Discos is constrained around 27 TWh per year and is far from any MYTO scenario provided by NERC,� the report stated.

It said energy billed was affected badly on the one hand by the effect of the pandemic, and on the other hand, the unreliable energy delivered

by TCN. It stated that the energy billed in quarter 2 of 2020 was less than quarter 1 by 822 GWh, a reduction of -14,2 per cent.

NNPC Reports N86bn Rise in August’s Operating Expenditure Emmanuel Addeh in Abuja The Nigerian National Petroleum Corporation (NNPC) has said that its operating expenditure increased by N86.4 billion, representing a 26 per cent hike, in August.

The national oil company, in the full report of its Monthly Financial Report (MFOR), however, defended the increase, saying that compared to a higher jump in operating revenue for the month, it had a healthy outing for August.

Also, the report indicated that about N7.7 billion was spent in the month under review on the

refineries that have not worked for over a year. But the report said some of the plants are being rehabilitated. “In August 2020, group operating revenue as compared to July 2020, increased by 27 per cent, or N95.69 billion, to stand at N445.04 billion while the expenditure for the month increased by 26 per cent or N86.45 billion, to N415.44 billion. “This month, expenditure as a proportion of revenue is 0.93 as against 0.94 last month; signifying an improved healthy performance,� the corporation stated.

The NNPC added that in August, it remitted N47.42 billion to the Federation Account Allocation Committee (FAAC). “From August 2019 to August 2020, total NNPC remittances to FAAC is N1,805.99 trillion; out of which the federation and JV with government priority projects received the sum of N794.76 billion and N1,011.23 billion respectively. “No associated crude plus freight cost for the three refineries since there was no production but operational expenses amounted to N7.78 billion. This resulted to an

operating deficit of N7.09 billion by the refineries,� it stated.

On crude oil production, the corporation said the Nigerian Petroleum Development Company (NPDC) from July 2019 to July 2020, had a cumulative production from all fields totalling 68,867,580 barrels of crude oil, translating to an average daily production of 173,470 barrels per day. “NPDC is projected to ramp up production level to 250,000bp/d in the near future. PTD from NPDC wholly operated assets amounted to 25,772,785 barrels (or 37.42 per cent of the total NPDC

production) with Okono Okpoho (OML 119) alone producing 22.71 per cent of the NPDC wholly-owned operated assets and 8.50 per cent of the total NPDC production. “Also, on the NPDC operated JV assets, in which NPDC owns 55 per cent controlling interest, crude oil production amounted to 31,869,743 barrels (or 46.28 per cent of the NPDC total production). On the nonoperated assets, production level stood at 11,225,053 barrels or 16.30 per cent of the company’s production,� it stated.

In the month under review,

the NNPC said a total of 37 pipeline points belonging to the corporation were vandalised, representing about three per cent increase from the 36 points recorded in July 2020. “ATC-Mosimi and MosimiIbadan accounted for 38 per cent and 24 per cent respectively while PHC-Aba and the other locations in turn, recorded 22 per cent and the remaining 16 per cent of the total breaks. “NNPC in collaboration with the local communities and other stakeholders continuously strive to reduce and eventually eliminate this menace,� the report said.

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PAGE TEN PROMINENT NIGERIANS MULL SOUTHERN PRESIDENTIAL CANDIDATES FOR 2023 by a former top federal

government official, has in the last few days met with the former military president, Gen. Ibrahim Babangida (rtd.), former President Olusegun Obasanjo; former Heads of State, Gen. Yakubu Gowon (rtd.) and Gen. Abdulsalami Abubakar (rtd.), traditional rulers and other stakeholders on the need to persuade the major political parties to produce southern candidates. ‘’We know zoning of the presidency to any particular geo-political zone of the country is at the discretion of political parties; but we need to have a special arrangement similar to that of the 1999

prearrangement where Alliance for Democracy (AD) and the PDP produced southern candidates in ensuring that the South was given the opportunity to produce the president in 1999 after the June 12 1993 crisis. ‘’Since the North would have concluded its eight years run in President Muhammadu Buhari-led administration, it is fair we allow the presidency to go to the South if we must continue to encourage equity, fairness and unity of this country,’’ an insider who doesn’t want his name mentioned explained.

The source added that even though the ruling APC

is considering zoning the presidency to the South, there is the need to work on other political parties, especially the PDP, to follow a similar pathway.

"Rotation or zoning is not sanctified; it is a party's procedure among members because it is not in our constitution. So, it is left for members of the parties to decide where the presidential candidate should come from,’’ the source added.

Apparently encouraged by the ongoing consultations, THISDAY gathered that many aspirants in APC: Its National Leader, Senator Bola Tinubu; the Minister of Transportation, Hon.

Rotimi Amaechi; Governor Kayode Fayemi of Ekiti State; former Governor of Imo State, Senator Rochas Okorocha; and others are currently erecting political structures across the country in preparation for the race.

THISDAY reported recently that in a major political development powered by power manoeuvres, Buhari’s supporters were considering backing former President Goodluck Jonathan for 2023 presidential run.

The thinking is that it will satisfy the increasing clamour for power shift to the South. Buhari’s close loyalists believed that Jonathan would be

inoffensive to their group interest and as such the right person to take over if power were to shift to the South.

According to a top source in Buhari’s camp, ‘’Former President Jonathan handed over power peacefully and nursed no bitterness against anyone and, therefore, will not be a threat to the interest of the north.�

The attraction to Jonathan’s possible candidacy is that he will serve just one term of four years and power will return to the North.

In PDP, former Governor of Anambra State, Mr. Peter Obi, Senator Ike Ekweremadu and others

are also said to be making consultations in preparation for 2023 presidential race.

The political move also fits into the recent position of elder statesmen, Alhaji Tanko Yakassai, Chief Edwin Clark, Chief Ayo Adebanjo; the Pan Niger Delta Forum, PANDEF; Second Republic lawmaker, Dr. Junaid Mohammed, and Chief Bode George, who contended that the presidency should be narrowed to the South.

Clark was quoted as saying that Nigeria's unity demands that North and South should rotate the office of president and after Buhari serves his eight years, the presidency should return to the South in 2023.

without going through the normal process and making consultations.

He stated: “Anambra as you know is a very democratic state. There is a law backing that payment and if the governor will scrap it, then he will discuss it with executive council members. That matter is sensitive and I have not discussed it with him; so, I cannot give you a categorical answer whether he would scrap it or not. “For people like Obiano and the former governor, Mr. Peter Obi, I am sure they will not feel it if the payment is scrapped because they were wealthy before they became governors, but there are some among the ex-governors who are not.�

In Sokoto State, the Special Adviser to the governor on Media, Mr. Muhammad Bello, told THISDAY that he was not aware of any plan by the state government to repeal the law.

The Enugu State government has also said that there are yet no plans to scrap the pension law.

The state Commissioner for Information, Mr. Chidi Aroh, said all the states in the country are independent and decide whatever happens in their states.

He stated that Enugu State has not decided

whether it wants to scrap the law or not, adding that the state will make it known to the public when it has a position. “States are not a secondary school together.

If Lagos State says they are scrapping their pensions for governors that is their position. If Kwara has said that, it is their own position,� he said.

The Abia State Commissioner for Information, Mr. John Kalu, was also not categorical in his response on whether the state is going to scrap the pension law.

He, however, did not rule out the possibility of doing so as part of measures to free funds for developing the state.

"We are looking at all available options to improve our financial capacity to deliver more dividends of democracy to the people.

"In due course, we will make public our position," he told THISDAY. A source at the Government House, Kano State told THISDAY under anonymity that the administration of Governor Abdullahi Umar Ganduje has no option than to continue the policy, because the governor had also served as deputy governor.

The former governor of the state, Malam Ibrahim Shekarau, had initiated

the law through the then speaker of the state House of Assembly, Mr. AbdulAziz Gafasa, and became the first former governor to enjoy the benefits. “There is no plan to scrap the law for payment of gratuity to former governors and the deputies. It was originated by the former administration of Shekarau and it is difficult to scrap it now,� the source said.

However, the state Commissioner of Information, Malam Muhammad Garba, and the Chief Press Secretary to the Governor, Mr. Abba Anwar, declined to comment when contacted by THISDAY. When asked if the Akwa Ibom State government has the plan to scrap the pension scheme for ex-governors and deputy governors, the state Commissioner for Information and Strategy, Mr. Ini Ememobong, said he was not aware of any move to do so.

"His Excellency, Governor Udom Emmanuel, has not communicated his position yet on that matter,� he told THISDAY. Ememobong, however, added that the payment of pension to former governors and deputies was supported by law.

"It is a matter of law.

There is legislation to it.

That action is backed by law," he said.

Africa at 28 per cent.

The World Bank recommends a minimum of 15 per cent tax-to-GDP ratio for economic growth and poverty reduction, he stated.

Nami stated, “A Debt Management Office (DMO) report indicates that about N1.21 trillion was used to service debt from January to June 2020. “Over N3 trillion is proposed for debt servicing in 2021. The report further projects that Nigeria’s debt stock will grow significantly by end of 2020. “God forbid that Nigeria should default in debt repayment obligations.

Nigeria’s debt-to-revenue ratio is worsening – it is estimated at 538 per cent at the end of the fourth quarter, which is a 190 per cent increase from 2019 figure (348%).�

TOP GAINERS NGN NGN % BOCGASES 0.44 4.84 10 JAPAUL 0.03 0.30 10 NCR 0.18 1.98 10 AIRTEL 44.50 489.90 9.9 FIDSON 0.54 5.98 9.9 TOP LOSERS NGN % AIICO 0.10 0.90 10 FCMB 0.38 3.42 10 UPL 0.14 1.26 10 STERLBANK 0.24 2.18 9.9 IKEJHOTEL 0.11 1.00 7.6 HPE Nestle Nig Plc â‚Ś1,450.00 Volume: 1.243 billion shares Value: N16.286 billion Deals: 13,433 As at Friday 13/11/2020 See details on Page 37

STATES CAUTIOUS ON ENDING EX-GOVS, DEPUTIES’ PENSION Government to abrogate the

law, showed that some of the states, including Akwa Ibom, Adamawa, Sokoto and Enugu have no immediate plans to review the law and free funds for other critical purposes.

Lagos State Governor, Mr. Babajide Sanwo-Olu, last week, unfolded a plan to stop the payment of pension to his predecessors and former deputy governors.

He had told the House of Assembly while presenting his 2021 Appropriation Bill that he would soon send an executive bill to repeal the Public Office Holder (Payment of Pension Law 2007) that empowers the state government to pay pension and provide other welfare benefits, including houses in Lagos and Abuja, vehicles and other accouterments of comfort to the former governors and their deputies.

A few days after SanwoOlu committed himself to repeal the law, which formed the template adopted by other states to confer benefits on the former governors and their deputies outside the scope recommended by the Revenue Mobilisation, Allocation and Fiscal Commission, Kwara State Governor, Mr. AbdulRahman AbdulRazaq, pledged to do the same.

AbdulRazaq, at the

weekend, said he would send a bill to the state House of Assembly next week, requesting the lawmakers to immediately repeal the law.

However, an investigation

by THISDAY revealed that many states are not willing to scrap the unpopular legislation.

Adamawa State Governor, Hon. Umaru Fintiri's, media aide, Mr. Solomon Kumangar, told THISDAY at the weekend that the state government has no plan to scrap the law, which was passed in 2008.

"Adamawa State has such a law passed in 2008.

For now, there is no plan to scrap it because there has to be a whole process of legislation before it can be abrogated," he explained.

In Plateau State, the state government also said it was not thinking about scrapping the law, which came into effect during the administration of Governor Jonah Jang.

The state Commissioner of Information, Mr. Dan Manjang, told THISDAY that the decision to repeal the law does not lie with Governor Simon Lalong but with the people of the state through their representatives in the state House of Assembly.

He said: "Yes, I am aware that such a law exists, but I cannot give you the details

of the content now because I don't have a copy of it with me. It came into effect during the administration of Governor Jang. I am also aware that the law has not been repealed.

"But I can also tell you that it does not lie within the decision of the government to determine whether or not it should continue; the people of the state would have to decide that through their representatives at the state House of Assembly.

"If the people say that they want it to continue as it has been, then the government cannot do otherwise. But if they want it changed, they should do so through their representatives at the state Assembly.�

The Anambra State government said the review of the pension law for former governors and their deputies would not be the sole decision of Governor Willie Obiano.

The state Commissioner for Information and Public Enlightenment, Mr. C-Don Adinuba, told THISDAY that the matter is a sensitive issue and he would not speak further on it.

He, however, added that since there is a law backing the payment of pensions to former governors, it will be unfair for the governor to singlehandedly repeal it

ANALYSTS ALLAY FEARS OF NIGERIA'S DEFAULT AS EUROBOND INVESTORS FRET with THISDAY, Head of

Research at United Capital, Mr. Wale Olusi, allayed fears of a likely default by Nigeria, stressing that the Zambian case was peculiar. “For the case of Nigeria, of course, oil prices are down, but the country still has enough oil reserves.

Nigeria is still getting inflows from oil proceeds, even though we are below the budgeted benchmark.

We have taken the IMF loan and the Central Bank of Nigeria is managing the forex situation effectively, even though there might be divided opinion about this. “Also, Nigeria’s external reserves are currently at about $35 billion. In terms of the local economy, Nigeria has increased Value Added Tax and the inflow of that has been encouraging. Apart from that, the yield environment

has been significantly low and the biggest beneficiary from that is the federal government, which has been able to save some amount of money in terms of debt service. Yes, the concerns about default are tenable, but I don’t see Nigeria defaulting,� he stated.

The Head of Research, Greenwich Merchant Bank, Mr. Ayodeji Ebo, who noted that the development with the Zambia Eurobond could send panic among investors, however, said it shouldn’t be a source of concern to Nigeria’s bondholders. “In Nigeria, our oil revenue can still settle that debt obligation and I don’t see it as a major problem. But it sends a signal that people would be more cautious going into African bonds,� he said.

The Acting Managing

Director at Afrinvest Asset Management Limited, Mr. Christopher Omoh, noted that even though Nigeria’s situation is different from that of Zambia “because of what has happened with the Zambia Eurobond, there is a scare for African Eurobond. But despite what is going on, people are still investing. Some are still buying Angola bonds, South African bonds, which are also well, but everyone is cautious.�

An asset manager, Mr. Ola Belgore, explained that wherever there is a default, it frightens investors.

He said: “Every bad news has a ripple effect on the market generally, and when you are talking about fixed income, most people assume that if it is a sovereign instrument, the likelihood of default will not be there. But as we

have seen, not only in this case with Zambia but also with Greece a few years back, there is no security, whether sovereign or otherwise that is 100 per cent secured. “But the bigger challenge will be if the country (Zambia) cancels the principal of its 2022 Eurobond when it matures.

"However, if they are able to show some seriousness, they may have some debt forgiveness from the IMF, which can be a relief for them.�

The Executive Chairman, Federal Inland Revenue Service, Mr. Muhammad Nami, at the weekend had reiterated that Nigeria’s tax-to-Gross-DomesticProduct (GDP) ratio was currently about six per cent, compared to Egypt at 15 per cent, Ghana and Kenya at 17 per cent, and South

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NEWS

Fayemi: How Police Brutalised, Teargassed Me Victor Ogunje in Ado Ekiti Ekiti Governor, Dr. Kayode Fayemi yesterday narrated his painful ordeals in the hands of policemen, alleging that he was also a victim of police brutality in 2014.

The Ekiti State governor, who also pointed out that some policemen had rendered good services to him, disclosed that he was brutalised and teargassed by a team of policemen during the build-up to the 2014 gubernatorial election in the state.

After a rally by the Peoples Democratic Party (PDP) in Ado Ekiti, the All Progressives Congress (APC) embarked on the sweeping of the roads passed by the PDP members and Fayemi and other APC supporters were allegedly brutalised by a Commander of Police Mobile Force, leading to the death of a chieftain of the APC, Mr. Taiwo Akinsola.

Speaking yesterday in Ado

Ekiti during an interaction session by stakeholders’ on the recent #EndSARS protest that resonated panic across the country, Fayemi said he would continue to join other good intentioned Nigerians to take #EndSARS agitations serious.

He insisted that the case of police brutality was one issue that affects every facet of the society.

“I am a victim of police brutality myself. You could all recall what happened to me during my election of 2014. But some policemen had also rendered good services to me, so not all of them are bad,” he started.

Fayemi, who describing the teeming youths as engine room of the nation’s economy, stated that there was need for the governments to partner with them for sustainable peace and development.

“The EndSARS protest was a noble course. It was supported here in Ekiti not because of those

involved, but for the reason behind the action which we believe would help the police to do their “The youth protest in Ekiti was well intentioned and peaceful.

Right to peaceful protest is an inalienable right. For the first time we have panel of inquiries at every level of

government to tackle our issues.

“We must not resort to violence as a solution to our agitations. We must all speak in unison against violence as we did in unison against Police brutality.

“Our youth are angry because as they were coming out of closure of schools over

coronavirus pandemic, they entered into ASUU strike, then there is hunger in the land and the harsh economic situation in our country.

“The government has done many intervention programmes and had proscribed SARS and introduced youth investment

fund and many others as a response to the youth agitations.

“Our police must be motivated to do well.

Policemen must be well remunerated. There must be good motivation for the police to be able to discharge their duties effectively”.

PDP, APC Bicker over Attack on Saraki’s Remembrance Prayer Session Hammed Shittu in Ilorin The main opposition Peoples Democratic Party, (PDP) in Kwara State and the ruling All Progressives Congress (APC) at the weekend traded words over the attack that happened during the eight years’ remembrance prayer for the late strongman of Kwara politics, Dr. Olusola Saraki at the Ilofa country home of the late politician in Ilorin.

The two parties in separate statements issued in Ilorin accused each other of sponsoring the hoodlums that attacked some innocent residents of Ilorin at the event.

The PDP in a statement issued in Ilorin and signed by the state Publicity Secretary of the party, Hon. Tunde Ashaolu alleged that: “It was the APC-led government in the state that sponsored some suspected hoodlums to disrupt and attack the invited guests that attended the remembrance special prayers organised for the late politician, Dr. Olusola Saraki, at his Ilofa country home, Ilorin over the weekend by the immediate senate President, Dr. Bukola Saraki”.

The party noted that if not for the quick intervention of security operatives, the armed thugs would have succeeded with their evil mission and that more casualties would have been recorded.

“We wish to place it on record that the APC is responsible for the ugly and unfortunate incident that played out today at venue of the prayer session held in honour of the late political icon of Kwara, Dr. Abubakar Olusola Saraki.

“Before today’s event, we saw on social media platforms leaked screenshots of a WhatsApp conversation, where an appointee of Governor Abdulrahman Abdulrazaq instructed some thugs to unleash attack and cause chaos at the venue of the programme.

“Acting on the instruction of the governor’s aide, the armed hoodlums stormed the venue of the fidau prayer and attempted to disrupt the programme and attack innocent people.

“If not for the quick intervention of the security operatives who were on ground, the armed thugs

would have succeeded with their evil mission and more casualties would have been recorded.

“The APC was also rattled by the visit of the former Senate President, Dr. Abubakar Bukola Saraki and the rousing welcome he received on his arrival to Ilorin” The party added: “The images of patients on hospital beds shared online by the Kwara APC PRO are people who were involved in an accident this morning under the bridge at Gerri Alimi, and then taken to the General Hospital, Ilorin, for treatment. Some of them are even supporters of our party”.

The party however called on security agencies in the state to conduct proper investigation into this matter and ensure that all those who are connected with the incident are brought to book.

But, APC in its statement signed by the state Publicity Secretary of the party, Alhaji Tajudeen Aro also accused the PDP and their leaders for the attack on security agencies and innocent residents of Ilorin during the event at the country home of the late, Saraki.

The party however warned the PDP against reintroduction of thuggery to the state politics.

Aro said that, the eight years remembrance of late Dr. Olusola Saraki was accompanied with the attack on security agencies by some suspected hoodlums in the convoy of former Senate President, Saraki He stated that, “For the first time since Senator Bukola Saraki and his party were defeated during the last general election in the state, our state again on last Saturday recorded a sad reign of hoodlums at an event organised by the senator. This is sad and unacceptable.

“We have since 2019 put those ugly days of official patronage of hoodlums behind us as a state and it is of great concern that many people were injured as a result of the lawless conduct that happened during the event.

“For example, many innocent persons have been rushed to General Hospital after sustaining serious injuries from the reckless behaviour of his followers. We do not want such ugly development again in Kwara”.

WE STAND WITH YOU…

L-R: Chairman of All Progressives Congress (APC) in Lagos State, Mr. Tunde Balogun; National Leader of APC, Senator Bola Tinubu; Vice President Yemi Osinbajo; Lagos State Governor, Mr. Babajide Sanwo-olu; and member of House of Representatives representing Ikeja Federal Constituency, Hon. James Abiodun Faleke, when the vice president paid a solidarity visit toTinubu at his Ikoyi residence…yesterday

Bakare Condemns Freezing of #ENDSARS Promoters’Accounts Serving Overseer of the Citadel Global Community Church, Pastor Tunde Bakare, has faulted the freezing of accounts of #EndSARS promoters.

In a special service at the church formerly known as Latter Rain Assembly, Bakare said every policy against #ENDSARS promoters and protesters is unacceptable for the peace and progress of the nation.

He said the right to peaceful protest is one that every Nigerian, especially youths should not be deprived of.

According to him: “This season of our national life requires deep humility, sobriety, and deliberate

thinking through, both by the government and the governed, to ensure that our plans, policies, and actions are weighed before they are implemented to avert the re-occurrence of our most recent crisis.

“Some of the actions recently taken by the government on the heels of the #EndSARS protests may need to be reversed sooner rather than later in our collective best interest so that they do not trigger further protests.

“Among such policy actions is the freezing of the accounts of young Nigerians who reportedly sponsored the protests. While I admit that, under our extant laws, banks may freeze an account upon an ex parte order

granted to a law enforcement agency by a court of competent jurisdiction for the purpose of an investigation, these provisions of our Law should not be used to intimidate Nigerian youth simply because they engaged in and promoted protests against the inactions of government.

“Targeting and arresting citizens on trumped-up charges, deploying court probes as a tool of intimidation, and generally eroding our fragile peace, are deeply worrisome signs of regression.”

He added: “To extend the olive branch to the youth in one breath and to deprive the youth of the right to freedom of movement

and property as enshrined in our constitution in another breath, will send confusing signals and cast doubts in their minds regarding the sincerity of the government.

“The immediate reversal of these actions, therefore, will calm raw nerves and fast-track peace in our land. And if there are serious or fundamental security breaches that necessitated the freezing of bank accounts and the confiscation of a passport, these should be made known.

“In the absence of any security breaches, citizens’ rights should never be trampled upon.”

Falana Appeals to Judges, Magistrates to Visit Police Stations, Detention Centres Human rights lawyer and Senior Advocate of Nigeria (SAN), Mr. Femi Falana, has appealed to judges and chief magistrates to conduct monthly inspection of all police stations and other detention facilities in the country with a view to releasing detainees.

Falana equally called on the members of the human rights community, including the Nigerian Bar Association (NBA) to assign their accredited representatives to accompany the judges and chief magistrates during the monthly inspection of police stations and other detention facilities in Nigeria.

In a statement made available to THISDAY yesterday, the human rights lawyer referred to Section 34 of the Administration of Criminal Justice Act, 2015 which requires Chief Judges of the Federal High Court, Federal Capital Territory High Court and State High Courts to designate judges and chief magistrates to conduct monthly visitation and inspection of all police stations and other detention facilities in all the states of the federation and the Federal Capital Territory (FCT).

He said in spite of the directive of the National Judicial Council (NJC), the provision of the law was yet to be complied with by many judicial authorities, adding that these were reasons why incessant arrest, detention and torture of poor citizens by the police and other security agencies have become the order of the day.

Falana also disclosed that the newly enacted Nigeria Police Act, 2020 has imposed a duty on all chief magistrates and judges to conduct monthly visitation and inspection of all police stations and other detention facilities within their territorial jurisdiction other than Correctional Centres.

Specifically quoting section 70 of the Police Act, the senior advocate noted: “70 (1) the Chief Magistrate, or where there is no chief magistrate within the police division, any magistrate designated by the Chief Judge for that purpose, shall at least every month, conduct an inspection of police stations or other places of detention within his territorial jurisdiction other than the prison.

“Where there is default by

an officer in charge of a police station or an official in charge of an agency authorszed to make arrest to comply with the provisions of subsection (3), the default shall be treated as a misconduct and shall be dealt with in accordance with the relevant police regulations under this Act, or under any other disciplinary procedure prescribed by any provision regulating the conduct of the officer or official of the agency.”

“From the foregoing, it is crystal clear that the visiting Judges and Chief Magistrates are empowered to order the release of detainees, or grant them bail or direct that they be arraigned in court. No doubt, the provision of section 34 of the Administration of Criminal Justice Act, 2015 and Nigeria Police Act, 2020 have confirmed the intention of both the Legislative and Executive arms of the federal government to ensure that the fundamental right of every citizen to personal liberty is not infringed upon or abridged by law enforcement officers contrary to the procedure permitted by law. It is now left for the Judiciary to activate and implement the provisions of the

law in order to end the incessant arrest and prolonged detention of the Nigerian people without any further delay.

“We are of the strong view that if all detention facilities in the country are henceforth regularly inspected by judges and Chief Magistrates as stipulated by the law the people of Nigeria will no longer be subjected to illegal arrest and detention by the Police and other security agencies. In particular, there will be no basis for #endsars and any similar campaign either now or in future. We are therefore compelled to call on Judges and Chief Magistrates to carry out their duties under section 70 of the Police Act. “However, to achieve the objective of the law we appeal to the respective chief judges to supervise the visiting judges and chief magistrates in the discharge of their statutory duties. Where there is no Chief Magistrate within the police division, the Chief Judge should designate a Magistrate for the purpose in accordance with section 70 (1) of the Nigeria Police Act, 2020. “

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NEWS

Olanipekun: Nigeria Needs Genuine Restructuring, People’s Constitution, Not Amendment Says #EndSARS protests a wake-up call Victor Ogunje in Ado Ekiti A former President of the Nigerian Bar Association (NBA), Chief Wole Olanipekun (SAN), has declared only a brand new constitution could address myriad of challenges bedeviling Nigeria and not an amendment of the operational 1999 Constitution.

The senior lawyer argued that the EndSARS protests, which nearly engulfed the nation was a microcosm of the danger that

would consume the country, if the country is not restructured.

Olanipekun lamented that the 1999 legal framework is not adequate to handle Nigeria’s peculiarities, saying what the country needs was a peopleoriented constitution that would recognise its diversity, stressing that the present one was foisted on Nigerians by the military juntas.

He spoke in Ikere-Ekiti, Ekiti State, yesterday during presentation of scholarship awards

to 143 students and launching of the Wole Olanipekun Foundation to empower youths and the lessprivileged in Ekiti.

The 1999 Constitution, according to him, breeds corrupt practices and impunity in governance, and should be dumped for a more robust one that will suit the uniqueness of the country.

“The news is everywhere and the propaganda has gone haywire that the National Assembly is

amending the constitution, as if what the constitution needs is an amendment rather than a total overhaul starting from the preamble to the definition schedule.

“All arms of government and government structures have to be redefined, resituated and re-strategised for a new Nigeria, which will bring about unity and faith, peace and progress.”

Olanipekun said the #EndSARS

protests, which nearly engulfed the nation, was a microcosm of the dangers that would consume the nation, if Nigeria is not restructured.

He expressed regret over the two police stations razed in his Ikere-Ekiti country home during the crisis, putting policing system in jeopardy due to tactical withdrawal of the police from the community.

Olanipekun said: “Whatever

might have been the outcome of EndSARS protest, the bitter take away there is that we must honestly, sincerely, passionately, unpretentiously take step to reawaken and rehabilitate Nigeria.

“The bitterness among ethnic nationalities is so deep, and we need genuine reconciliation and restructuring of the polity. That small sore has become cancerous and we need a radical surgery to extract it.”

International Groups Write Buhari, Says Magu Not Likely to Get Justice AformerActing Chairman, Economic and Financial Crimes Commission, (EFCC), Mr. Ibrahim Magu is unlikely to get justice at the Presidential Panel set to probe him, Nigeria’s leading anti-corruption group and its international partners have said.

In a letter addressed to President Mohammadu Buhari, the Human Environmental Development Agenda, (HEDA Resource Centre), Global witness, Cornerhouse and Re:Common said the panel has spent more days than necessary without establishing any serious case against the former EFCC boss.

If the panel cannot establish proven case of corruption against Magu, the groups urged Buhari to disband the panel and save Nigeria from local and international embarrassment.

It is the third time HEDA and its partners have raised the same concern in six months.

The letter signed by HEDA’s Chairman, Mr. Olanrewaju Suraju; Global witness Director, Mr. Simon Taylor; Cornerhouse Director, Mr. Nicholas Hildyard; and Re:Common Director, Luca Manes expressed profound concerns over the conduct of the judicial

inquiry into allegations made by the Attorney General and Minister of Justice, Mr. Abubakar Malami, that Magu had abused his office when he was Acting Chair of the EFCC. The group said it has no problem with the investigations but rather that the investigation has, from the start, been so deeply flawed and biased that impartial observers have long since given up hope of Magu receiving a fair hearing.

Suraju said President Buhari should be aware that international anti-corruption campaigners now regard the panel as nothing less than a Kangaroo Court designed to witch-hunt Magu and slow down the anti-corruption wheel.

“At almost every stage, Mr. Magu has been denied due process. He was not provided with the allegations against him until 35 days after the Panel had convened. His lawyers have repeatedly been excluded from many of the hearings. Most of the witnesses were examined without Mr. Magu being present.

Witnesses have been allowed to testify without swearing to an oath of truth,” HEDA and its partners said.

Amnesty Boss Urges Sustained Peace in Niger Delta The Interim Administrator of the Presidential Amnesty Programme, Col. Milland Dixon Dikio (rtd), has called for sustained peace in the Niger Delta, assuring the ex-agitators in the region that payment of their monthly stipends will be prompt.

He gave the assurance in Port Harcourt, Rivers State at the weekend during a meeting with the leadership of phase 1, 2 and 3 of the Presidential Amnesty Programme (PAP).

Dikio who is on a tour to the Niger Delta region, said the prompt payment of the stipends was part of the far- reaching reforms he has introduced to the programme.

According to him, there were too many bureaucracy in the system, which often resulted in the incessant delays in the payment of the N65,000 monthly stipend.

The Amnesty boss said his tour to the region was aimed at taking the programme back to the people, which was the original idea at inception.

“The PAP is a programme that was designed especially for ex-agitators. If you are not an ex-agitator you’re a stranger.

I don’t see why it will be the other way.

“I was told by some people not to come that the region is not safe. Why should I be in this office and not visit my main area of operation? So I said I must come, so that we can see eyeball to eyeball, let me hear from you the issues so that together we can begin to discuss how to move on.

“I was in Okochiri in Okrika yesteday where I met with the Big 5 in the palace of King Ateke Tom and it was a fruitful meeting.

Today, I am also meeting with you all to reinforce my vision for the PAP. “Over time people have confused the programme for the package. They are different and it is good that you understand that so that we can all be on the same page.

“Since I came, I have been undertaken some reforms to ensure that we get it right. So the issue of your monthly stipends will be paid every 25th of the month. It’s not rocket science. All that was needed to do was to put the accounting process in order”

GIVING BACK TO THE PEOPLE...

Emir of Bade, His Royal Highness Abubakar Umar Suleiman (left), and President of the Senate, Dr. Ahmad Lawan, at the flag-off of the expanded medical outreach for Yobe North senatorial district by the senator in Damaturu....weekend

Gbajabiamila: House Committed to Increasing Health Allocation Udora Orizu in Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila has said that the House is committed to increasing the allocation to the health sector with a view to improving the well-being of Nigerians.

Speaking at a two-day training organised for health workers by his office in Lagos, the Speaker said the programme was to improve their capacity to be able to handle the COVID-19 situation better.

Declaring the training open yesterday in Lagos, the speaker said it was “part of efforts to ensure that health care professionals have the skills they need to continue

to do the incredible work they have done so far.”

The Speaker, who paid glowing tributes to all health workers across the country for the way they have handled the Covid-19 situation so far, said he believed they deserve more attention in terms of training and capacity building.

“Through all of this, our medical professionals have shown exemplary courage and commitment. Their efforts have renewed our faith in the human spirit and shown us that we are, each one of us, capable of extraordinary greatness, of courage beyond measure and goodness beyond what we imagine in ordinary times,” he said.

He said: “This moment also requires that governments at all levels continue to support the training, welfare and wellbeing of the medical professionals who are at the forefront of this existential battle. We owe them that much, and so much more.”

Gbajabiamila added that the House “has committed to increasing the appropriations due to the health sector so that we can remedy the weaknesses of infrastructure and capacity, access and quality that bedevil our national health care system.

“It is also an example of what we can do when we work together, across different levels of government and with the private sector to deliver objectives that

serve the best interests of all our citizens.”

He expressed delight at the discovery of a vaccine that would bring Covid-19 to an end, cautioning, however, that “Yet we must recognise, and we must continue to act in the knowledge that we are still far from the time when that vaccine will be perfect and readily available to all the people of the world.”

“When the final account of this moment is given, we will not forget to credit the health workers and medical professionals who have helped us here in Nigeria, and others all over the world, to manage and overcome the ravages of the Covid-19 pandemic.

Obaseki Gives Life Insurance to Special Constables as Community Policing Kicks off Adibe Emenyonu in Benin City Special Constables under the Community Policing scheme in Edo State, who graduated over the weekend, will be given life insurance policies, Edo State Governor, Mr. Godwin Obaseki, has said.

The governor made the disclosure at the graduating ceremony of 877 Special Constables under the community policing project of the Nigeria Police Force in the state at the weekend, adding that insecurity was the first challenge confronting his

administration as he took the oath of office for a second term on November 12.

He noted that the 877 Special Constables were trained at the Police Training School, Ogida, Benin City to strengthen the Edo State Police Command in the area of community policing.

“The Special Constables are part of the first batch of the 2,000 constables to be trained for community policing in collaboration with the Nigeria Police Force in Edo State.

“The idea of community policing is not new to us as an

administration. This concept which has led to the recruitment, training and subsequent graduation of the special constables was one of the ideas I discussed with the present Inspector General of Police, Adamu Mohammed, when he served as the Assistant Inspector General (AIG) of Police Zone 5 in Benin City, several years ago.”

Urging the Special Constables to see themselves as people called to serve their various communities in the area of local policing, Obaseki noted that the passing out parade of the first batch of 877 personnel would legitimise the structure that

started in the state.

“You have been recruited to take policing activities in your communities. You will join the Edo State Government to work for the Edo people. We are not bosses but here to serve Edo people”, he told the graduands.

Obaseki assured that his administration would invest more on security in collaborating with the federal government, promising that the administration would also collaborate with the Nigeria Police Force on the facilities at the Police Training School.

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COMMENT

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

NPF, PENSIONS AND RETIREMENT BENEFITS The NPFPL is doing a remarkable job, writes Ikechukwu Amaechi

T

he NPFPL is doing a remarkable job, writes Ikechukwu Amaechi For the management of the Nigeria Police Force Pensions Limited (NPFPL), not even the axiomatic sky is the limits. It is only a stepping stone to greater heights because the stakes in the pensions industry will always be high.

That is the worldview that drives the Pension Fund Administrator (PFA) and for her clients, men and women of the Nigeria Police Force, that pragmatic philosophy only means one thing – good news.

Conceived as a one-customer Pension Fund Administrator (PFA), the NPFPL was exclusively dedicated to serve the police with a vision “to be the benchmark in Pension Fund Administration in Nigeria.� When it was established six years ago, the idea was to have a PFA exclusively responsible for pension management of all police personnel, according to the Pension Reform Act (PRA 2014).

Before then, policemen were scattered in all the other 20 PFAs. The PFA since inception has worked hard to justify its license not just by meeting the benchmark expectation but actually exceeding it through creative innovations that make the welfare of police officers the centre of its gravity. Many retired police officers concur that the PFA has not only deliberately made their clients – policemen – their numero uno in terms of priority but indeed, their only priority.

Sources within the organization aver that the prioritization policy is deliberate in furtherance of the PFA’s stated mission, which is “to provide quality customer and financial advisory services to stakeholders and adopt investment strategies that would yield the best possible returns on their pension assets.�

Realizing this laudable mission in an industry as competitive as the pension industry especially by a new entrant entails financial creativity at its best. On this score, the PFA has excelled by going beyond what is considered usual in the industry.

Even their competitors in rival PFAs acknowledge that when it comes to the welfare of clients, the NPF Pensions seem to have an edge as they are always on top of their game. A source within the organization who pleaded anonymity puts is thus: “For us, thinking outside the box is more than just a business clichĂŠ. As a one-customer PFA dealing exclusively with the police, we knew that the only way to deliver handsomely on our mandate is to approach our task in new, innovative ways.

And the only way that can be done is to conceptualize the problem, which in our situation means a retiring police officer, differently.�

One of the creative ways the NPF Pensions devised to make life more meaningful for policemen in retirement is the introduction of the Retiree Resettlement Support Scheme (RRSS), which is the payment of certain amount of money to retiring police officers as welfare support.

The RRSS is not part of its mandate. In fact, till date, it remains the only PFA that is giving back to its clients. Introduced in 2017, the scheme has gone a long way in enhancing the

MANY RETIRED POLICE OFFICERS ARE GRATEFUL THAT IN THIS PANDEMIC ERA WHEN MOST ORGANIZATIONS ARE SCALING BACK THEIR EXPENSES BECAUSE OF LIQUIDITY PROBLEMS, NPF PENSIONS IS DOING THE OPPOSITE

welfare of policemen in retirement. Our sources informed that so far, about N1.5 billion has been paid out to 10,400 retirees.

The RRSS is a freebie. For any other organization, the idea of a freebie to its clients would be a big deal. But for a company that is always striving for excellence, nothing short of the best is good enough.

And living up to its reputation of an organization that is always upping the ante in order to deliver maximum benefits to its clients, the NPFPL is already a benchmark in the industry by further raising the bar. In 2018, the RRSS was further enhanced for the senior officer cadre from the rank of Commissioner of Police and above.

And since the NPF Pensions leadership believes in ‘what is sauce for the goose should also be sauce for the gander axiom,’ it has also considered and approved that starting from October 1, 2020, the payment of RRSS for officers from the cadre of CSP and below be reviewed upwards by 100 per cent. This gesture is remarkable and the beneficiaries are appreciative.

Mr. Charles Effiong who retired in 2019 as a Superintendent of Police (SP) said the largesse came in handy. “When we retired, we were not paid our retirement benefits immediately.

We were told that the federal government was yet to release our accrued benefits but the PFA came to our rescue with the RRSS funds that enabled me to relocate from Lagos where I was serving before retirement to Uyo, Akwa Ibom State where I intend to settle.� Effiong believes that things will even get better now that there is an upward review and a promise by the NPF Pensions of continuous enhancement of the scheme as the company’s income increases.

For a retiring officer to be eligible for the RRSS, the RSA account must have been domiciled with the NPF Pensions for a minimum period of two years. Many police officers say that is a fair deal. “We have every reason to be with NPFPL for life,� enthused a serving police officer who pleaded anonymity. “Why would any policeman not pitch tent with the NPF Pensions?� he queried and provided the justification for a stay: “Prior to its establishment, many policemen on the Contributory Pension Scheme (CPS) were neither receiving statements on their Retirement Savings Accounts (RSA) nor had any communication with the PFAs, and, therefore, didn’t know what was happening to their accounts. All that is now history.

Not only that, the PFA continues to reinvent itself by improving retirement benefits even when we least expect it, moreover, NPF Pensions is located in every Formation and Command and therefore, easily accessible.�

Many retired police officers are grateful that in this pandemic era when most organizations are scaling back their expenses because of liquidity problems, NPF Pensions is doing the opposite.

But even as good as things are now, the PFA is assuring their customers that the best is yet to come.

Amaechi is a former Editor of Daily Independent

NDDC, OIL COMMUNITIES AND 13 PER CENT DERIVATION canvasses adequate attention to oil-bearing communities

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ontrary to widely held view that core oil producing areas in the Niger Delta are benefiting from 13 percent derivation and the Niger Delta Development Commission (NDDC) projects, there is no impact of these interventions in the areas.

Instead, state governors, government officials and politicians at both federal and state levels take advantage of vulnerability and gullibility of these oil communities to divert these benefits to their preferred locations, leaving the core oil communities to fate. The communities have no voice or representatives in government.

Since 1999 till date over N9 trillion has been paid to the oil producing states as 13 percent derivation. The state governors of Bayelsa, Rivers, Delta, Akwa Ibom, Edo, Ondo, Abia and Imo states have failed to use this money for the development of the oil producing communities as required by law.

The intents of Section 162, Sub-section 2 of the 1999 Constitution (as amended) on the 13 percent derivation, and the NDDC Act, 2000, are for compensation of oil communities for social and environmental pollution and damage arising from oil exploration and production.

Rather than disburse the money as statutorily required, the state governors and their representatives spend the money at whims in a way similar to security votes. No accountability. Besides their pockets, they concentrate development in the state capitals, and other areas of personal interests, without consideration for the core oil areas. Regrettably, they get away with this misappropriation, using the instrumentality of their offices to intimidate the people.

The conditions of the oil communities do not matter to these governors despite the excruciating pains they go through in their spirit, soul and body, seeing their wealth being carted away and losing their means of livelihood to environmental ruin with no basic amenities like electricity, schools, drinkable water, roads,

or even cottage hospitals.

Pay a visit to a few of these oil communities and see whether you can hold back tears. A few examples are Eastern Obolo, Ibeno (Akwa Ibom), Ogbotobo, Emadadja (Delta), Obigbo, Krakrama (Rivers), Opukushi, Kologbene (Bayelsa), Ikpoba Okha, Uromehe (Edo), Jirinwo, Awoye (Ondo), Umurie, Izaku (Abia) and Ossu, Mmahu (Imo).

While the state capitals and other cities of the governors’ preferences receive development attention, these oil communities experience nothing but presence of stern-looking and heavily armed naval or military personnel deployed to protect oil facilities. Youths in these communities no longer live freely, dress freely or walk freely as these armed officers see them as miscreants. Some of these youths have been innocently murdered.

Even the various agencies set up by some of these state governors to bring succour to these communities are just scams to hoodwink the people. Commissions like the Delta state Oil Producing Area Development Commission (DESOPADEC), Ondo State Oil Producing Areas Development Commission (OSOPADEC), Edo State Oil and Gas Producing Areas Development Commission (EDSOGPADEC), Abia State Oil Producing Areas Development Commission (ASOPADEC) and Imo State Oil-Producing Area Development Commission (ISOPADEC) are used as conduit for political compensation by these governors.

This explains why oil producing communities are the least developed in each of the oil producing states with pitiable infrastructural deficit, as typified by Ilaje area of Ondo State.

This is the trend in all the Niger Delta states, Abia and Imo states.

As if this is not enough, the NDDC, a federal government agency, is also a culprit in this web. Members of this commission are apron string of the Presidency and National Assembly from where they take directives on contracts. This overbearing influence has consequently emboldened the appointed

officials to also skew contracts selfishly for themselves in defiance of statutory protocols.

This is the underpinning reason for budget padding, and why it has become an annual ritual at the National Assembly.

This also explains why fraud, including ghost contracts, diversion of projects to private empires, and false usage of names of oil host communities as beneficiaries have become a tradition in NDDC. In reality, what is left on ground in these communities are bogus signages of the Commission erected to reflect non-existent projects.

Oil has brought miseries to the people to the extent that even basic agricultural and fishery activities which provide hope for these oil communities have declined overtime due to continuous acquisition and allocation of their territories as oil blocks by government through forceful acquisition.

In law, whoever owns the land, owns the resources therein, and this principle is supported by the Ad Coelum Doctrine. While this is applicable in other parts of the country where gold and other mineral resources are found, the loathsome Petroleum Act of 1966 which now forms part of the 1999 Constitution deprives the oil communities of their resources.

This is at variance with practices in advanced democracies where host communities, states or regions own the resources and pay taxes to government.

The Water Resources Bill awaiting representation to the National Assembly is another attempt to rob the oil communities of their resources. If passed into law, their means of livelihood would have been taken away as it will become illegal for these communities to carry out fishing occupation in their own territorial waters. This also means that the 13 percent derivation from offshore oil fields will be lost to the federal government. Over 80 percent of the oil communities are located in the riverine areas.

That the lives of the oil communities do not matter to government was evident in the

manner the National Oil Spill Detection and Response Agency’s (NOSDRA) handled the issue of dead fishes that were washed ashore the Niger Delta coastline recently. Rather than do a painstaking investigation driven by professional commitment to establish the actual cause of the dead fishes, NOSDRA hurriedly attributed it to toxic wastes discharge, yet, failed to identify companies responsible for it.

We are talking of the aquatic life and means of livelihood of the people here!

The plight of the oil communities also finds expression in the exorbitant cost of petroleum products in the riverine areas. The Petroleum Equalisation Fund established to administer uniform prices across the country has left out the riverine areas in their network. The people pay far and above pump price of these products. Just imagine the agony the people go through buying petrol for outboard engine boats used for fishing and transportation.

No cost bridging for them. That is why the man in Jibia, Katsina State buys fuel cheaper than the person in Deghele, an oil producing community in Delta State.

What has sustained and kept the peace in the oil producing areas till date, are not the ghost 13 percent and NDDC projects, but efforts of oil companies who, through their corporate social responsibility policies, have been able to add some measure of values to the lives of their host communities. But this can be improved further by adopting the NNPC template used for the rehabilitation of the North East.

The NNPC had mandated the oil companies to fund reconstruction of infrastructure schools, hospitals, roads, electricity, houses, and others in the destroyed territories of the North East under specially approved cost recoverable budget. This template should be replicated to rehabilitate the Niger Delta territories.

Owhoko, journalist and Publisher of Media Issues, is the author of The Language of Oil & Gas

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T H I S D AY Ëž Ëœ ÍŻÍ´Ëœ 2020

EDITORIAL

ANOTHER LOOMING DEBT TRAP Government must be circumspect in accumulating more debts

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hat the debt being accumulated by both the federal government and the 36 states is now growing faster than the rate of the country’s Gross Domestic Product (GDP) is no longer news. What is worrying is that the authorities don’t seem to care and are borrowing more every day, mostly for controversial projects.

That bodes ill for the future of our country.

Therefore, the warning by most analysts is that the country may be heading for another debt trap if restraint is not exercised.

The public debt stock of the country stood at N31 trillion IT IS INCUMBENT ON THE or $85.9 billion AUTHORITIES IN ABUJA as at the end of June this year, AND THE 36 STATES according to the TO REFLECT ON THE Debt ManageIMPLICATIONS OF THE DEBT ment Office BURDEN ON THE FUTURE (DMO), representing 8.3 per OF OUR COUNTRY cent rise from N28.628 trillion in March 2020. “The increase in the debt stock by N2.381 trillion or USD6.593 billion was accounted for by the USD3.36 billion budget support loan from the International Monetary Fund, New Domestic Borrowing to finance the Revised 2020 Appropriation Act, including the issuance of the N162.557 Billion Sukuk, and Promissory Notes issued to settle Claims of Exporters,� said the DMO. “Additional Promissory Notes are expected to be issued in the course of the year, this, and new borrowings by state governments are also expected to increase the public debt stock.�

Ordinarily, if the aim of borrowing is to help the government to attain their developmental needs in the areas of infrastructure, health, education, power and transportation, it is a laudable idea. But it is one thing to raise these funds and it is another thing

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to ensure judicious use. While the federal government continues to harp on fiscal discipline, improved revenue generation, rational allocation and efficient use of resources, there is nothing on ground to show commitment to these ideals.

We must recall that in 2005, Nigeria successfully negotiated a complicated debt write-off deal of about $18 billion after a cash payment of approximately $12 billion to free the nation from the Paris Club debts of over $30 billion, most of which were accumulated interests and charges. Chunks of these loans were secured in the 1980s to fund what turned out to be white elephant projects and the profligacy of the various administrations at that time.

We are even more worried by the debts being accumulated by the states. Without the requisite oversight by their respective state legislature, a large chunk of these funds could not be accounted for. In fact, some of the governors inherited states that are heavily indebted on account of debts accumulated by their predecessors.

The current perception of the populace is that majority of the 36 governors have failed to plug the leakages and wastes, which over the years have become institutionalised in their states. Aside the fact that many of the states can hardly meet their routine obligations after servicing their monthly debts, most of the loans were not deployed to tangible projects. It is therefore incumbent on the authorities in Abuja and the 36 states to reflect on the implications of the debt burden on the future of our country.

Disturbed by the reckless accumulation of debts, the International Monetary Fund (IMF) has consistently warned Nigeria of the consequences, particularly of the servicing costs which could consume substantial amount of government revenues. That government, at all levels, has continued to sneer at these concerns, raises the spectre of another debt trap in future.

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.

LAGOS 2021 BUDGET AND THE AUDACITY OF HOPE

he common accounting tool governments, companies, organisations and other institutions use for planning and controlling what they must do to satisfy the people, customers and succeed in governance, business and other areas of human endeavours is budgeting. Budgets provide a measure of the financial results a company expects from its planned activities.

By planning for the future, government officials, chief executives, managers, administrators and others in leadership positions learn to anticipate potential problems and how to avoid them. Instead of subsequently facing problems, they can focus their energies on exploiting opportunities.

On Tuesday, November 9, 2020, Lagos State Governor, Mr. Babajide Sanwo-Olu, presented the state 2021 N1.155 trillion budget estimate, tagged “Budget of Rekindling Hope�, to the House of Assembly. Considering its sheer size as well as recent happenings in the state, the budget is, no doubt, audacious in outlook.

The proposed budget evidently mirrors the bold aspiration of the Sanwo-Olu’s administration to ensure that public resources are planned, managed and used effectively to make a positive impact on the residents’ lives. It details how the government intends to allocate resources for the restoration of eco-

nomic stability, just as the state continues to navigate its way out of the negative impact of the COVID-19 pandemic as well the destructive impact of the recent #EndSARS protest.

Government’s limited resources logically requires making decisive verdicts about the kind of policies and programmes to fund and at what level. Precisely, the 2021 budget was carefully prepared to ensure heavy investment in the development of human capital, with special focus on youth employment and provision of social safety for the young people. It focuses on creating jobs and strengthening security for businesses to flourish.

Food security has a cumulative budget of N22.21 billion, while cumulative budget of N311.43 billion is to be committed to the provision of infrastructure. Also, N97 billion is earmarked for the health sector with N143.66 billion allocated to public education.

One distinct feature of the budget estimate is the high ratio of capital to recurrent expenditure. About N704 billion, representing 61 per cent of the total budget, is earmarked for capital expenditure in the proposed 2021spending. An estimate of N451.75 billion, representing 39 per cent, will go for recurrent expenditure, which includes personnel cost and other staff-related expenses.

This is consistent with the Sanwo-Olu

administration’s move to keep the cost of governance low in the face of dwindling revenues and general inflation occasioned by multiple factors. No doubt, it is the same desire of shrinking overhead costs, in order to free more resources for fixed intensive investments, that informed the proposal to repeal the state’s Payment of Pension Law of 2007, which provides for the payment of pension and entitlements to former governors and their deputies.

From Mr. Governor’s inspirational speech at the budget presentation, it is certain that the budget passes the test of various pillars of contemporary governance such as integrity, openness, participation, accountability and strategic planning. Through the budget, the Sanwo-Olu administration desires to reinforce an essential keystone in the building of trust between the government and its citizens. It also reflects the craving to fortify the trust between the people and the government. It also underscores the government’s commitment to the rebuilding of Lagos.

Obviously, as it is with every government’s budget, funding and financing remain the singular biggest challenge to the implementation of the proposed budget. According to Governor Sanwo-Olu, the budget will be funded from a projected Internally-Generated Revenue (IGR) of N962 billion, while the N192.495 billion deficits will be financed

through bond issuance, internal and external loans.

Until recently, members of the public, including political experts, focused on the approval of budget requests and ignored budget execution. In Lagos State, budget has always been embedded with a unique feature of reporting the performance of previous ones. The current budget presentation is not an exception.

In spite of obvious challenges of the current year, Governor Sanwo-Olu reported that as of September, 2020, the state’s total revenue performed at 98%, while total capital expenditure and total recurrent expenditure performed at 71% and 83% respectively. Some of the ongoing projects such as the Pen Cinema Bridge, Agege, which is nearing completion, Arabagun-Imeke-Mowo road, to connect Lagos Badagry Expressway in the Badagry axis; Iwaya and St. Finbarr’s roads – AbuleOkuta and Soluyi roads all within the Somolu axis; Ijede, Agric Isawo and Oba Sekumade roads all within the Ikorodu, Ishuti road, Igando/Egan/ Ayobo road phase 2 & 3 (i.e. the bridge) in Alimosho axis; among other major roads and projects across the state can attest to this claim.

Rasak Musbau, Assistant Director, Public Affairs, LASIAMA, Alausa, Lagos

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MONDAY NOVEMBER 16, 2020 •T H I S D AY

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T H I S D AY ˾ MONDAY NOVEMBER 16, 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 Igbo Presidency Feasible in 2023?

The agitation for a Nigerian president of Igbo extraction has gathered more momentum recently. Segun James and David-Chyddy Eleke report that the path to achieve this is still strewn with a lot of political intrigues

Peter Obi

Ngige

Ogbonnaya Onu

Kema Chikwe

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It was the South-east’s support that ensured that Northern Peoples Congress (NPC) candidate, Tafawa Balewa became the first and only Prime Minister of the country in 1960. It was also the Southeast support that helped Alhaji Shehu Shagari the National Party of Nigeria (NPN) candidate to office as president in 1979.

Forty years later, the South-east is asking for similar goodwill from the north.

But the northern region is now unwilling to return the favour. To the people of the South-east, this is the most unkind gesture and display of treachery for loyal friendship that has lasted the entire recent political history of the country.

Sometimes it’s a reason; sometimes it’s an excuse, but ask the average Igbo politician why they endorse and pander to the north so much, they often answer with a question of their own: “Do you have any alternatives?”

“What about the South-west?”

Then their face changes “No. We don’t trust them.”

This is the situation as the South-east prepare again for the presidency in 2023, the proverbial year that is going to decisively determine the continued relevance of the Igbo ethnic nationality in Nigeria.

Today, the South-east needs the Southwest’s support if it is to realize its dream of also producing the leadership of the country. But will the north back down on its avowed determination to ensure that power remains with their people?

Well, it is hard to predict.

New challenges await all the players in

the polity. The next two years promises to be the most exciting yet for the Igbo nation. There is serious anger among the people, especially among the youths that much of what is happening in the polity may be due to the lack of foresight and leadership among their political elite.

How could they be too trusting and shortsighted even though they have been shortchanged by successive governments in the past despite the massive support from Igbo people?

This may be the reason for the agitation for Biafra among the youth. A feeling of if we have nothing to gain, then, we have nothing to lose. That has been the allure for the youthful supporters of the militant group, Indigenous People of Biafra (IPOB), a group that agitates for a breakaway nation from Nigeria. The support for IPOB among Igbo youths has been massive. The activities of the group have been of grave concern to the federal government.

The concern in the political circle is this, what will happen to Nigeria if the Igbo people are denied the opportunity to rule Nigeria in 2023? Right now, the Igbo political elite is concentrated in the PDP. They make a minuscule percentage in the ruling APC, and the party has performed poorly in the South-east. With a scenario like this, it would be hard for the APC to give its presidential ticket to a candidate from the South-east, except the party is planning to fail and has decided to gift the presidency to the PDP without any fighting chance.

The Igbo are more inclined towards PDP, where most of their governors and

legislators pitch their tent. Except for a freak legal toss-up in Imo state, the APC stands no chance in the region. Even if the PDP seeds its presidency to the South-east, it would be difficult to win as the APC which is more dominant in the South-west is not likely to move in that direction.

So where will the Igbo candidacy come from? What chances do they have in an election in which the Yoruba of the Southwest is also very interested? These are the questions as the Igbo reappraise their chances in the election that may make or break Nigeria.

Those who forget the past are doomed to repeat it, a saying goes. This seems to be particularly true in politics. Geographic balance is, relatively speaking, the strength of the Nigerian political world.

Whereas this has been maintained by successive government, it is the inability of President Muhammadu Buhari and the northern Fulani dominated leadership to imbibe this time tested system that is now undoing the nation.

Nigeria is a country that finds it strangely hard to get along with its constituent parts; rubbing many the wrong ways with assertive territorial claim and high-handedness. Yet, political tension obscures the regions intense economic links, particularly that, an astonishing number of people from the South-east are responsible for the economic diversity and development of the north.

Until now, it has been widely assumed that politics in Nigeria can be controlled, hence the gentleman’s agreement between the geopolitical zones to rotate the presidency, but now, the reality suggests otherwise.

Politics of the past, present and future in Nigeria swirls around the presidency.

Now the focus is on 2023 and which ethnic nationality’s turn it is to produce the leader of the country? The Igbo ethnic group believes it is their turn. They believe that they have sacrificed so much for the unity and the continued existence of Nigeria as a nation.

They are insisting that other parts of Nigeria respect the gentleman’s agreement agreed by political leaders that the presidency should be rotated not only between the north and the south but also between the South-east and the Southwest. This they insist has been strictly adhered to religiously until now when it is the turn of the South-east to take a shot at Nigeria’s presidency The South-east is bustling with opti-

oday everyone is talking about how the nation needs a change.

What nobody is talking about is change for what, when, how and most importantly, why? Barely two and a half years to the 2023 election cycle, the believe is that the election would be between the All Progressives Congress (APC) and the Peoples Democratic Party (PDP). As things stand, the winning pendulum swing either way.

Politics in Nigeria is notorious for spectacular changes of allegiance, with former adversaries making improbable deals and close allies suddenly becoming bitter foes. This may be responsible for the movement back and forth from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) among the political elites.

Few events in Nigeria’s recent political history have had a more crushing effect on morale as the outburst by a cousin to President Muhammadu Buhari, Mamman Daura that the north may not support the South-east push to produce the next president of Nigeria.

Daura opined that instead of abiding with the gentleman’s agreement among the political leaders, which zones political positions among the six geopolitical areas and rotational of the presidency between the north and south, merit should now be the criteria; and that the next president can come from any part of the country.

This had created some imbalance in the system. Such imbalance are not inherently bad, it makes sense if merit, ability, capacity and capability is the consideration, but Daura’s call becomes very perplexing given that the Buhari administration is arguably the most incompetent in recent Nigerian political history; where merit has been sacrificed on the alter of tribalism and religious favoritism.

To most southerners, the Daura call is like shifting the goalpost when the game has already started. They complained that this position is capable of setting the nation back and eroding the gains of the last 20 years of the nation’s democratic governance.

This position of Daura is particularly telling given the fact that the South-east region, largely populated by Igbo ethnic group has always given the north the support and advantage it needs at the most critical point in the nation’s political process. The Igbo always aligns with the north against the Yoruba of the South-west.

For the Igbo presidency to be realized come 2023, the two major political parties, that is the ruling All Progressive Congress and the main opposition party, the Peoples Democratic Party, must zone their presidential tickets to the South-east zone and allow Nigerians choose whoever they want.

Mobilizing our people to be on the same page and speak with one voice on the sole project rather than having different demands and agitations outside the call for an Igbo President, so that we shall not be looked upon as a confused people

T H I S D AY ˾ MONDAY NOVEMBER 16, 2020

18

MONDAY DISCOURSE

Josephine Anenih

David Umahi

Rochas Okorocha

Orji Uzor Kalu

mism. Threats of different kinds, from blackmail over the call for Igbo presidency to the prospect of a possible Igbo exit from the Nigerian union as championed by one of her sons, Nnamdi Kanu.

For the first time in recent Nigerian political history, the call for an Igbo leadership of Nigeria has never been more strident. It has grown not only among the Igbo but also among other ethnic nationalities. To most people, this is the best time for a paradigm shift in a he political arena.

On 5th of October 2020, a group, Global Movement for Igbo President 2023 (GLOMIP 2023) was launched.

It is a movement to help people of the South-east of Nigeria produce the next president of the country. The group drew together political bigwigs from Igboland to the launch. Senator Ben Obi, former old Anambra State governor, Chief Chukwuemeka Ezeife, former Aviation Minister, Mrs Kema Chikwe, former Minister of Women Affairs, Mrs Josephine Anennih, business moguls and members of the intelligentsia were all willing to throw away political affiliations to work for a common goal.

Coordinator of the group, Mr. Kennedy Iyere who spoke during the inauguration said Nigeria needs the touch of an Igboman to return to the path of greatness.

“We have seen the best that the North can offer, we have seen the best the West can offer and we have seen the best the South-south can offer. This is the time to try the South-east. This movement for Nigeria President of Igbo extraction will be a global project which will be presented to the British and European Union parliaments as well as government agencies of the world. It will be funded internationally, and the idea is that a presidential candidate that will emerge from this platform will not spend his money to campaign, because if he does that he will be forced to recoup thereby leaving Nigeria worse than he met it,” he said.

It will not be the first time that the people of the South-east would be agitating for the presidency of the country, but perhaps, it may be the first time that all and sundry are agreeing that the Igbo people of the South-east extraction need to occupy the highest office in the land. From governors to former governors, lawmakers to former lawmakers, ministers to former ministers, members of the academic and even the business world, the quest seems to be gathering momentum, and everyone is in sync with it.

Senator Ben Obi, a leading Igbo voice for the actualization of the Igbo presidency project during the launch of GLOMIP 2023 said, “Ndigbo cannot elect President all alone, rather, they should intensify fierce and deliberate lobbying of the North-west, North-east, North-central, South-west and Southsouth. After reaching out to other zones, the next hurdle would be the political parties that have the constitutional right to sponsor people for elections.

“For the Igbo presidency to be realized come 2023, the two major political parties, that is the ruling All Progressive Congress and the main opposition party,

the Peoples Democratic Party, must zone their presidential tickets to the South-east zone and allow Nigerians choose whoever they want. Mobilizing our people to be on the same page and speak with one voice on the sole project rather than having different demands and agitations outside the call for an Igbo President, so that we shall not be looked upon as a confused people.”

For Mrs Josephine Anenih, a former minister, she regretted that Igbo have been marginalized for too long.”The country is made up of a tripod, but one leg of the tripod is not functioning and that one leg is the Igbo. No Igbo man has governed Nigeria before. Goodluck Ebele is not an Igbo man. I worked for his reelection, but later I realised that the Ebele we see there is not the Igbo version, but short for Ebelemi, which is an Ijaw name. We must work for this project.”

Former governor of Anambra State, Dr. Chukwuemeka Ezeife described the issue of President from Igbo extraction as long overdue, adding that South-East zone should fight harder as power is taken not given. “We shall send our Steering Committee members to Bola Tinubu and other Northern aspirants to see a reason why Igbo should produce president and have a rethink. More people outside South-East support Igbo Presidency.

We must have a strong body of elder statesmen to go to people of influence to lobby.”

Meanwhile, a group, Igbo World Assembly (IWA) has begun plans to hold an elaborate solidarity march in all the state of the South-east, with people of all strata of the society to be involved, as a way of drawing attention to the quest by the people of the South-east. Chairman of IWA, Dr Nwachukwu Anakwenze, a prominent Igbo leader who is also chairman of Ohanaeze Ndigbo Diaspora Committee, who spoke to journalists in Awka, Anambra State said plans are in top gear to ensure that church leaders, political leaders, business leader and indeed everyone takes part in the march.

“Come 27th of December Igbo states will have a solidarity march. Bishops from the Anglican, Catholic and Pentecostal churches are involved. Politicians, aca-

demics, business moguls are all involved.

The march will be through a prescribed route and in each state, the procession will end their walk by presenting a letter each to the governor of each of the states. A message will also be presented to President Muhammadu Buhari, while one letter each will also be presented to the chairmen of the two leading political parties in Nigeria, urging them to field Igbo candidates in their parties.

“All the regions of Nigeria have produced presidents, and it is now the turn of the South-east zone to produce good leadership for the good of all Nigerians to move Nigeria in a positive direction.

We should be our brother’s keeper. For the good of Nigeria, we believe that our geopolitical interests should extend to ethnic regions in Nigeria that aspires to its mission of uniting all Nigeria of like minds, through the concept of standing together for the betterment of entire Nigeria.”

“An alliance with other groups, neighbours is the key, regardless of the fear of a hidden agenda of Igbo domination.

This fear of Igbo domination has kept people from working with us. We believe in a alliance. We cannot get presidency by ourselves, even if all the Igbos vote.

We (Igbo) have always been engaged in making Nigeria better. We have always helped in building other places and now, we want to build Nigeria. We’ll pick Igbo president from a past leader who did well in their assignment. Nigeria is a blessed country. We have everything in Nigeria but we are cursed with bad leadership. Good leadership is what lays a foundation for people to thrive and we will hope for the best leadership from an Igbo son,” he said.

In the South-east, however, some names have been dropped as possible candidates that can lead the zone to victory in the 2023 presidential election. Though none of the presidential hopefuls from the zone has come out to openly declare their intention, some of those touted to be harbouring intentions include former governor of Anambra State; Mr Peter Obi, former governor of Imo State; Senator Rochas Okorocha, former Abia State governor and Minister of Science and Technology; Dr Ogbonnaya Onu,

Ebonyi State governor, Engr. Dave Umahi, former Deputy Senate President, Ike Ekweremadu, former Abia State governor; Senator Orji Kalu and former Anambra State governor and minister of Labour and Employment; Dr Chris Ngige.

One presidential hopeful, Prof Peter Umeadi has however shown boldness by announcing his intention to lead the country. Umeadi has also gone further to hold consultations across the country and has begun to mobilize heavily for his intention, just as his posters dot every state of the country today. Umeadi who hails from Anambra State is a professor of law and a Fellow of the Chartered Institute of Arbitrators and hopes to actualize his ambition on the platform of the All Progressives Grand Alliance (APGA).

Recently, over 200 members of Peoples Democratic Party (PDP) in Anaocha Local Government Area (LGA) of Anambra state where he hails from, dumped the party to pitch tent with APGA. The decampees were led by former President General, Nri ancient kingdom, Chief Frank Obiekwe Oraeki. Oraeki said the movement to APGA was in readiness for the 2023 presidential election, where their son, Prof Umeadi would be running for president. “Charity begins at home. We want everybody in this local government to move to APGA. If Prof Umeadi must win in 2023, his victory must start in his community, his local government and his own state Anambra, before we go ahead to win the entire country,” Obiekwe said.

The member representing Anaocha 1 state constituency in the Anambra State House of Assembly, Hon Ejike Okechukwu, who received the new entrants said APGA was a formidable force to reckon with, being the thirdlargest political party in Nigeria, and urged the people to join the clamour for South-east to produce the next president of Nigeria, by supporting the presidential bid of their illustrious son, Prof Peter Umeadi.

The APGA presidential aspirant, Prof.

Peter Umeadi, who was also at the event choose not to speak about his aspiration for now. He urged Ndigbo to support APGA as the surest vehicle that would take a south-easterner to the presidency, come 2023. Even though political parties differ, most speakers have also added that what is more important to Ndigbo is clinching the presidency in 2023, and not which political party did.

Politics, however, is a dynamic game.

What is the mood of the other geopolitical zones to the Igbo presidency quest?

Although this should normally not matter given the fact that the Igbo are the only major ethnic nationality that has not tasted the presidency since the coming of the fourth republic.

But today, Igboland is resonating a new voice - Igbo Presidency come 2023!

It is the new thinking that is gaining support among the people. It has created a movement that is anti-divisive. This movement can be described as populist, but it is indeed an embrace of the new order as exemplified by Global Movement for Igbo President 2023 (GLOMIP 2023).

They are insisting that other parts of Nigeria respect the gentleman’s agreement agreed by political leaders that the presidency should be rotated not only between the north and the south but also between the South-east and the Southwest. This they insist has been strictly adhered to religiously until now when it is the turn of the South-east to take a shot at Nigeria’s presidency The South-east is bustling with optimism.

Threats of different kinds, from blackmail over the call for Igbo presidency to the prospect of a possible Igbo exit from the Nigerian union

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How #EndSARS Revealed the Capacity of NigerianYouths Amby Uneze reviews the consequences of the Nigerian youths protest and the result for the country

Buhari

Secondus

Nwodo

Adamu

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it is also regrettable to note that some hoodlums later turned the peaceful protest to a battlefield which consumed many innocent souls. From available reports, the looting and unruly behaviours of the hoodlums could have been avoided had it been that the shooting of innocent protesters at the Lekki Toll Gate was not carried out by yet-to-be identified gunmen, believed to be soldiers.

Again, the subsequent evading and looting of warehouses across the country where CACOVID (Covid-19) palliatives were allegedly stored was also condemnable. But, looking at it closely, these were hungry youths who had been variously denied food and decent leaving by the so-called leaders. One wonders how else these youths can access ownership of what was meant for them all the time.

The Covid-19 lockdown started in March 2020 and for six months everybody was indoors without money, food and other life-saving supports. The Coalition Against Covid-19 (CACOVID) brought timely support which ran into several billions of Naira and food items such as bags of rice, beans, garri, yams, packs of indomie, etc were procured with the proceeds.

There is no germane explanation of the governors that can exonerate them from blames because these CACOVID palliatives were supposed to have been distributed to Nigerians long before now.

How on earth could they (governors) hoard these items long after the lockdown had been eased and subject hungry Nigerians to wallow in poverty and hunger? In line with an age-long saying that ‘a hungry man is an angry man’, therefore, the governors should take the blame for not distributing these items as when due to those they were meant for initially.

Nigerians are aware that most of the countries of the world went extra miles to make enough money and food items to her citizens and those who live in

their countries to save them from dying of hunger. Such measures were not experienced in Nigeria, even when the Central Bank of Nigeria approved some interest-free loans to assist the SMEs in their businesses.

Many prominent Nigerians extolled the action of the Nigerian youths. The Peoples Democratic Party (PDP) saluted the courage and patriotism of Nigerian youths for standing up to defend the fundamental freedoms and dignity of Nigerian citizens. National Chairman of the party, Prince Uche Secondus said “your exemplary patriotism, using peaceful and constructive protest, to retrieve the country from the path of failures and creeping authoritarianism sends a strong message that democracy is alive in Nigeria. The fact that our youths have not submitted to cynicism and hopelessness gives us hope to continue to fight for a democracy that respects the freedom and creativity of young Nigerians.

“It is indeed appalling and worrisome that government’s response to the legitimate demands of the protesters for a comprehensive reform of the police and the policing system in the country is to hurriedly recycle SARS in the form of the SWAT, thereby simply pouring the same old poisonous wine into a new wine bottle.

“PDP endorses the 5-point demands of the protesters and calls on the Buhari-led APC government to commence real actions towards a comprehensive reform of police and criminal justice in Nigeria. It is about time the APC government stopped this manipulation and insincerity, which it has turned to an art of governance, and honestly implements the legitimate demands of the protesters.

“What is required is a comprehensive reform of policies and institutions of Nigerian police that would overhaul a mindset that appears to view all citizens as potential criminals rather than potential

victims of crimes in need of their protection.

“We support the call for a judicial panel of inquiry into the atrocities of the defunct SARS and those who have visited mindless violence on protesters since the protest to #ENDSARS started. We also support the demand that the government should pay compensation to families of hundreds of Nigerians killed and maimed by SARS under the APC government. All these however, will only be an indication of good faith by the government, and does not substitute for the reform that is envisaged.

“It is the lamentable insensitivity and brutal repression by the APC government that has escalated the protests across the country. However, we recognize that everyone is commonly imperiled if the APC government fails to do the needful and continue to provide the pretext for the protests to continue”, Secondus said.

The President General of Ndigbo umbrella socio-cultural and political Organization, the Ohanaeze Ndigbo, Chief John Nnia Nwodo said that the raging youth revolt in the country against the menace of Police brutality as mirrored by Special Armed Robbery Squad, SARS, had its root in the existing political injustice in the country.

He noted that the youth rebellion brought to the fore the fundament security challenges that is imbedded in the erroneous political imbalance in the country, adding that the fact that the youth rebellion continued days after the disbanding of the notorious Police outfit, SARS showed that the problem is fundamental and should be intellectualized from that perspective.

“It has shown that the surface scratching by the Inspector General of Police, Mohammed Adamu in dissolving SARS and raising SWAT, goes far away from addressing the deep rooted problems of policing in the country. SARS menace has also thrown a challenge to the country’s elites and government over prolonged neglect of that critical arm of our life as a nation”, he stated.

Chief Nwodo said that the only viable and enduring solution to the current situation is to harken to the clarion call of the majority of Nigerians to redesign this country in such a way that could address the prevailing injustice. He said that a problem like this was bound to come up when the country continually lived in denial as operating a federal structure while in truth running a confederation in such a multi-cultural and divergent nation.

The Ohanaeze boss said that in addition to the total overhauling of the nation’s security’s architecture, the government should as a matter of urgency initiate the process of restructuring this country as the only way of holistically tackling the basic problems on ground. He regretted and condemned in strong terms the targeting of some Igbo businesses particularly in Abuja by hoodlums pretending to be countering the genuine protest and warned that such wicked acts will have far reaching consequences.

he eruption of protests by Nigerian youths under the code name: #Endsarsprotests have indeed opened the eyes of Nigerians that for the country to be great again, its success lies in our collective hands. Quite alright, what the people want is what they get in terms of achieving greatness. But in an orderly way round, when people are tepid over the affairs of their country, definitely, it takes a miracle for such a country to move forward.

A lot of decay has taken place in the country and the leadership has no doubt brought this nation into her knees making it very difficult for the rot to end. Since the attainment of Independence in 1960, the country has had a deep sited problem arising from her leadership. Corruption among the leaders has risen to high heavens and every effort to bring it low proves abortive. Over the years, it has been loots upon loots and the led have suffered over time making it impossible for citizens to partake in the God giving resources that are abound in the country.

It is unfortunate that those names that had been ringing bells as the leaders of this country for the past 50 years are still in power and their children and grandchildren are still being spoon-fed. Those old men and women who have nothing else to offer to the country are still in power and that is the problem of this country. If Chief Olusegun Obasanjo, Audu Ogbeh, Ibrahim Gambari, Muhammadu Buhari, etc who had ruled this country for over 30 years ago can still be in power today, it then means that Nigeria is not working.

There is no gauge to measure the alertness and mental alacrity of these old men and women in government and compare it with those of their children who are more eager and swift to change the narrative for a better country. It is granted that there are no new ideas left with the old generations who have been occupying positions of authority for over three to four decades other than to replicate those policies that had made the country remain stagnant and lacking development.

These leaders amassed wealth with public treasury and it is the heavy war chest they had accumulated over the years that are instrumental to their buying their way back to leadership position.

The #endsarsprotest has actually erased the notion that ‘only the old can bring about the desired change and development Nigeria desires’. The events of the past weeks also brought to the fore the message that Nigerian youths could fight for their rights, even as they had stomached so many injustices against them and the Nigerian state by those who swore to protect and defend democracy of this great country. By so doing, they seem to have approached the issue with all sense of purpose, sending the signal of readiness to take back their country and manage it better than those of their fathers and grandfathers.

While commending the dexterity of Nigerian youths for their peaceful protest,

Many prominent Nigerians extolled the action of the Nigerian youths. The Peoples Democratic Party (PDP) saluted the courage and patriotism of Nigerian youths for standing up to defend the fundamental freedoms and dignity of Nigerian citizens. National Chairman of the party, Prince Uche Secondus said “your exemplary patriotism, using peaceful and constructive protest, to retrieve the country from the path of failures and creeping authoritarianism sends a strong message that democracy is alive in Nigeria.

The fact that our youths have not submitted to cynicism and hopelessness gives us hope to continue to fight for a democracy that respects the freedom and creativity of young Nigerians

T H I S D AY Ëž ÍŻÍ´Ëœ Í°ÍŽÍ°ÍŽ

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FEATURES

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

Buying a Baby on Nairobi’s Black Market

Rebecca and her youngest daughter in Nairobi

Photos: Brian Inganga/BBC

Joel Gunter

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Womewhere, Rebecca's son is 10.

He could be in Nairobi, where she lives, or he could be somewhere else. He could, she knows in her heart, be dead. The last time she saw him, Lawrence Josiah, her firstborn son, he was one. She was 16. It was about 2am one night in March 2011 and Rebecca was drowsy from sniffing a handkerchief doused in jet fuel - a cheap high on the city's streets.

She sniffed jet fuel because it gave her the confidence to go up to strangers and beg. By the time she was 15, Rebecca's mother could no longer support her or pay her school fees, and she dropped out and slid into life on the street. She met an older man who promised to marry her but instead he made her pregnant and left. The following year Lawrence Josiah was born, and Rebecca raised him for a year and a few months until she closed her eyes that night and never saw him again.

"Even though I have other kids, he was my first born, he made me a mother," she said, fighting back tears. "I have searched in every children's centre, in Kiambu, Kayole, and I have never found him."

Rebecca still lives on the same streets in Nairobi. She is small, with angular cheekbones and short, tightly braided hair.

She has three more children now - girls aged eight, six, and four. The youngest girl, who played cheerfully on Rebecca's lap as she described the fate of her son, was nearly snatched once, she said, by a man who claimed the barely one-year-old girl had asked him to buy her a drink.

Rebecca followed him to a car afterwards, she said, where a woman was waiting. The next day, he was back.

You do not have to look hard to find similar stories around the park where Rebecca lives, alongside other unhoused Nairobi residents. Esther's three-year-old son disappeared August 2018. "I have never been at peace since I lost my child," she said. "I have searched for him all the way to Mombasa." It's been five years since Carol's two-year-old son was snatched in the middle of the night. "I loved him so much," she said. "I would forgive them if they would just give me back my child."

The ďŹ ve-month-old baby girl Anita told Africa Eye she has snatched on the street Vulnerable women are being preyed on in Nairobi to feed a thriving black market for babies. Over the course of a year-long investigation, Africa Eye has found evidence of children being snatched from homeless mothers and sold for massive profits. We uncovered illegal child trafficking in street clinics and babies being stolen to order at a major government-run hospital. And our team was able to purchase an abandoned child from a hospital official, who used legitimate paperwork to take custody of a two-week old boy before selling him directly to us.

The baby stealers range from vulnerable opportunists to organised criminals - often both elements working together. Among the opportunists are women like Anita, a heavy drinker and drug user who lives herself on and off the street, and makes money stealing children from women like Rebecca - targeting mothers with infants under the age of three.

Africa Eye found out about Anita through a friend of hers, who wanted to remain anonymous. The friend, who asked to be called Emma, said Anita had different methods for snatching children.

"Sometimes she will speak to the mother first, to try and see if the mother knows what she plans to do," Emma said. "Some-

times she will drug the mother - give her sleeping pills or glue. Sometimes she will play with the kid. Anita has a lot of ways to get kids."

Posing as potential buyers, we set up a meeting with Anita in a pub in downtown Nairobi frequented by street sellers. Anita told us she was under pressure from her boss to steal more children, and described a recent abduction.

"The mother was new to the streets, she seemed to be confused, not aware of what is going on," she said. "She trusted me with her child. Now I have the child."

Anita said her boss was a local businesswoman who bought stolen babies from petty criminals and sold them for a profit.

Some of the customers were "women who are barren, so for them this is a kind of adoption," Anita said. But "some use them for sacrifices," she added.

"Yes, they are used for sacrifices. These children just disappear from the streets and they are never seen again."

That dark hint echoed something Emma had already told us, that Anita said some buyers "take the kids for rituals".

But once Anita has sold a child on, she knows little about what happens to it, Emma said. She sells them to the businesswoman for 50,000 shillings for a girl or

80,000 shillings for a boy - ÂŁ350 or ÂŁ550.

That is roughly the going rate in Nairobi to steal a child from a woman on the street.

"The businesswoman, she never says the business she does with the kids," Emma said. "I asked Anita does she know what the woman does with them, and she told me she could not care less whether she takes them to witchcraft or whatever. As long as she has money, she does not ask."

Soon after the first meeting, Anita called back to arrange another. When we arrived, she was sitting with a little girl who she said was five months old and she had just snatched moments before, after winning the mother's trust.

"She gave it to me for a second and I ran away with it," she said.

Anita said she had a buyer lined up already, to purchase the girl for 50,000 shillings. Emma, our source, attempted to intervene, saying she had been introduced to a buyer who could pay 80,000.

"That is good," Anita said. "Let's seal the deal up for tomorrow."

A meeting was set for 5pm. Because a child's life was in danger, Africa Eye informed the police, who set up a sting operation to arrest Anita and rescue the child once our buyer had met her. It was likely the last opportunity to secure this baby girl before she disappeared.

But Anita never showed up, and despite trying for days we were unable to find her. Weeks later, Emma finally tracked her down. She told us Anita said she had found a higher bidder and used the money to build a two-room, tin-sheet house in one of the city's slums. The child was gone.

The police still have an open file on Anita.

'Suppose We Do This' There are no reliable statistics on child trafficking in Kenya - no government reports, no comprehensive national surveys. The agencies responsible for finding missing children and tracking the black market are under-resourced and under-staffed. One of the few safeguards for mothers whose children are taken is Missing Child Kenya, an NGO founded and run by Maryana Munyendo. In its four years in operation, the organisation has worked on about 600 cases, Munyendosaid.

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Emma helped expose a woman she knew was snatching babies "This is a very big issue in Kenya but it is underreported. At Missing Child Kenya we have barely scratched the surface." The issue had "not been prioritised in action response plans for social welfare," she said.

That is partly because this is a crime whose victims tend to be vulnerable, voiceless women like Rebecca, who do not have the resources or social capital to draw media attention or drive action from the authorities.

"The underreporting has a strong correlation to the economic status of the victims," Munyendo said. "They lack the resources, networks and information to be able go somewhere and say, 'Hey, can someone follow up on my missing child?'"

The driving force behind the black market is a persistent cultural stigma around infertility. "Infertility is not a good thing for a woman in an African marriage," Munyendo said. "You are expected to have a child and it should be a boy. If you can't, you might get kicked out of your home. So what do you do? You steal a child."

A woman in that situation will most likely be put in touch with organised criminals like Anita's boss, who uses vulnerable people like Anita to snatch the children. Or they might be connected to someone with access to a hospital.

According to Africa Eye's research, child trafficking rings are operating within the walls of some of Nairobi's biggest government-run hospitals. Through a source, we approached a Fred Leparan, a clinical social worker at Mama Lucy Kibaki hospital. It is Leparan's job to protect the wellbeing of vulnerable children born at Mama Lucy. But our source said Leparan was directly involved in trafficking. The source arranged to meet Leparan and told him he knew of a woman desperate to purchase a child after failing to conceive.

"I have this baby boy in the hospital," Leparanresponded. "They dropped him off two weeks ago and never came back."

According to our source, this was not the first time Leparan had arranged to sell a child.

"The last case scared me," Leparan said in the meeting, which Africa Eye recorded.

"Suppose we do this, I want a plan that won't cause us problems later on," he said.

Children like the abandoned baby boy on offer from Leparan should be taken to a government children's home while they are placed officially with foster parents who have been subject to background and welfare checks. When they are sold illegally by people like Fred Leparan, nobody really knows where they are going.

Posing as a woman called Rose, an undercover reporter working for Africa Eye met with Leparan at an office close to the hospital. Leparan asked a few cursory questions about Rose's status. She said she was married but could not conceive, and was under pressure from her husband's family to give birth.

"Have you tried adoption?" Leparan asked.

"We thought about it but it seems like it is a bit complicated," Rose replied.

With that, Leparan agreed.

"If we go ahead with this deal it will only be the three of us - me, you and him," he said, pointing to Rose and our source.

"My issue is trusting someone. It is very risky. It worries me a lot."

Mary Auma runs a street clinic in the Kayole neighbourhood of Nairobi

Fred Leparan is a clinical social worker at Mama Lucy Kibaki hospital, Nairobi He said he would be in touch to arrange the sale.

Adama's Choice Between the street abductions like Anita's and the corrupt hospital deals like Leparan's, there is another layer to Nairobi's child trafficking business. Dotted around some of the city's slums you can find illegal street clinics with delivery rooms for expectant mothers. These makeshift clinics are a known location for the black-market trade in babies.

Working with a local journalist, Judith Kanaitha of Ghetto Radio, Africa Eye approached a clinic in Nairobi's Kayole neighbourhood, home to thousands of the city's poorest residents. According to Kanaitha, the baby trade in Kayole is booming.

The clinic we approached is operated by a woman known as Mary Auma, who said she had worked as a nurse in some of Nairobi's biggest hospitals. Kanaithaposed as a buyer. Inside the clinic, two women were already in labour.

"This one, she is eight and a half months pregnant, she is almost ready to deliver," Auma said, whispering. She offered to sell the unborn child to Kanaitha for 45,000 shillings - ÂŁ315.

Auma did not appear concerned for the mother's welfare after the birth. "As soon as she gets her money, she will go," she said, waving her hand. "We make it clear, they never come back."

The woman in the clinic that day whose unborn baby Auma was negotiating for sale was Adama.

Adama was broke. Like Rebecca, she had been abandoned by the man who got her pregnant, and the pregnancy cost her job on a construction site when she could no longer carry heavy bags of cement. For three months, her landlord gave her grace, then he kicked her out and boarded the place up.

So Adama decided to sell her baby.

Mary Auma was not offering her the 45,000 shillings she was charging us. She told Adama the deal was for just 10,000 ÂŁ70.

"Her place was dirty, she would use a small container for blood, she had no basin, and the bed was not clean," Adama told us later, in an interview in her village.

"But I was desperate and I didn't have a choice."

Adama said that the day we walked

into the clinic, Auma had just induced her, without warning, by giving her tablets to swallow. Auma had a buyer and was keen to make a sale.

But the birth was not smooth. The baby boy had chest issues and Auma told Adama to take him to Mama Lucy hospital for treatment. After two weeks, Adamawas discharged with the baby. She texted Auma, and Auma texted us.

"New package has been born," she wrote. "45,000k."

At the clinic, Adama was reunited with Auma and her assistant. "They said the baby looked okay and if the client wanted him he would be taken straight away," she said.

Adama had made a painful choice to sell her child. Now she was reconsidering.

"I did not want to sell my baby to someone who would not be able to take care of him, or someone who buys babies to go use them for other things," she said.

So Adama left the clinic that day carrying her baby boy and delivered him to the government run children's hospital.

She never got the money she needed. She lives alone now, away from Nairobi, and sometimes she dreams about her son and wakes in the early hours and thinks about him. Sometimes, if she can't get back to sleep, she walks down the road in the dark until she finds someone else awake. But she doesn't regret her choice.

"I feel at peace to have given my baby to the government," she said, "because I know he is safe."

The Hospital Sale Fred Leparan, the clinical social worker at the government hospital, called to say he had identified a baby boy given up by his mother that he wanted to steal for us. The boy was one of three children at the hospital waiting to be transferred to a nearby children's home. It was Leparan's job to ensure they got there safely.

But Leparan knew that once the babies left Mama Lucy hospital, there was only a slim chance anyone from there would check they had arrived at the home.

At the hospital, Leparan filled out the necessary paperwork and made small talk with the staff, who had no idea that a child was being stolen on their watch.

Rose, the undercover reporter, was waiting in a car outside. Leparan told the hospital nurses she worked for the children's home and asked them to take the babies out

to her. He seemed increasingly anxious, but he assured our source that the nurses would not follow them.

"No, they can't, they have work to do," he said. Then he urged the team to leave quickly. "If we keep chatting like this someone may suspect," he said.

Moments later, the team drove out of Mama Lucy hospital with three infant children in the car and instructions to deliver just two of them to the children's home. From there, the baby boy could have gone anywhere, to anyone.

The undercover team delivered all three children safely to the home, where they will be cared for until a legitimate adoption can be arranged.

Later that afternoon, Leparan called Rose to a meeting and instructed her to place the agreed 300,000 shillings on the table.

"The only thing to keep an eye on is the boy's vaccine mark," he said.

"Also, be careful. Be very careful."

The BBC confronted Fred Leparan about this transaction but he refused to comment.

The hospital also declined requests to comment. Leparan appears to have kept his position.

We also informed a children's rights NGO about Mary Auma's illegal street clinic in Kayole, which in turn informed the police, but Auma appears to still be in business. She did not respond when we put our allegations to her.

And we attempted to put our allegations to Anita, but she seemed to have once again disappeared into the shadows of the street.

For the mothers whose children were stolen, there will never be any real and final resolution, unless they hear the worst.

Many would give anything to have their son or daughter back, or to know their fate.

"I swear I would give everything," Rebecca said. "And if he died I would like to know too."

Last year, she heard that someone saw a boy in a distant neighbourhood of Nairobi that looked just like her eldest daughter, Lawrence Josiah's sister. She knew it was probably nothing, and she had no way of getting to the neighbourhood and no idea where to look if she did. She got as far as the local police station but she couldn't get any help, she said, and eventually she gave up.

"It is a one in a million chance these women will see their children again," said Maryana Munynedo, from Missing Child Kenya. "It is hard for any street person.

They are seen as less sympathetic victims of crime."

But nobody should assume that people on the street "do not have feelings, that they do not deserve justice," she said "They do have feelings. The way you miss your child if you live in a suburban area is the same way you miss your child if you are a mother on the street."

Some of the babies stolen from the street will end up in those suburban areas. Sometimes Rebecca thinks about the wealthier women who paid for them - about what it takes to raise a child you know was stolen from someone else.

"What are they thinking?" she said.

"How do they feel?" ... Gunter wrote this for BBC Africa Eye.

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Group Business Editor Obinna Chima

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Quick Takes Moody’s AďŹƒrms AfDB’s AAA Rating

Moody’s Investor Service has aďŹƒrmed the African Development Bank’s (AfDB) AAA credit rating, with a stable outlook. “The credit proďŹ le of AfDB is supported by the bank’s robust capital buers and superior risk management, which mitigate risks,â€? Moody’s Investor Service said in its latest annual credit analysis.

Moody’s added: “An ample liquidity buer and unfettered access to international capital markets also support its ability to meet its debt-service obligations. Moreover, the bank has a long track record of being the premier development institution in Africa and beneďŹ ts from shareholders’ ability and willingness to support its development objectives, exempliďŹ ed by the signiďŹ cant contributions of highly rated non-regional member countries.â€?

Commenting on the development, President, AfDB, Dr. Akinwumi Adesina said: “The AAA rating by Moody’s validates the strength of the Bank’s prudent ďŹ nancial and risk management and strong governance systems even in the face of tough challenges imposed by the Covid-19 pandemic. “The extraordinary support of the Bank’s shareholders boosts our capacity to ďŹ nance African countries. We will continue to manage risks and capital requirements adequately to help African countries to build their economies back better and faster, while assuring economic, health and climate resilience.â€?

STRENGTHENING PARTNERSHIP

L-R: Oyo State Commissioner of Finance, Mr. Akinola Ojo; Governor, Engr. Seyi Makinde; ICAN President, Onome Adewuyi; ICAN Ibadan Chairman, Mr. Biodun Adedeji; and past President, Mallam Ismaila Zakari, during the presentation of a cheque in support of ICAN Ibadan District by the Oyo State Government in Ibadan‌recently

Insurance Operators Seek Extension of Recapitalisation Deadline Ebere Nwoji Barely six weeks to the December 31 deadline for the insurance sector recapitalisation, operators have implored the National Insurance Commission (NAICOM) to extend the deadline.

It was gathered that the insurers made the appeal to the regulator during a meeting of chief executive officers in the industry with the commissioner for insurance at the industry’s professionals’ forum held in Abeokuta, Ogun State recently.

They pointed out the Covid-19 outbreak and recent civil unrest and its consequential losses as their reasons for the request.

INSURANCE The underwriters, implored NAICOM to also consider their challenges by amending some of the requirements in the recapitalisation exercise for the sector.

They said the support of the regulator would assist to build strong underwriting companies and boost investors’ confidence in the sector.

Some of the executives who attended the meeting, disclosed that they made a request for the recapitalisation exercise process to be concluded in December 2021, while the interim milestone assessment scheduled for December

2020 be stepped down.

The executives said the operators had earlier appealed to the commission, to waive the December 2020 milestone. “The waiver will give the insurance and reinsurance companies more time to settle back to business and pursue their full recapitalisation programme in order to meet the commission’s set objectives by 31 December, 2021,� one of the operators who pleaded to remain anonymous said.

They said the operators were more concerned about the aspect relating to attainment of certain thresholds by December 2020, failing which the commission may restrict the scope of business insurance and reinsurance

companies will transact.

The operators said they had observed the huge impact of COVID-19 on the financial services sector and the national economy at large, coupled with the situation that was worsened by losses in the wake of the recent #EndSARS protest which was hijacked by hoodlums. “We are convinced that it will take businesses especially insurance companies some time to ascertain the full extent of loss and recover from the shock of the devastating developments,� he said.

The insurers said it was therefore important that the Continued on page 24

Survey: Work-from-home Hurting Employees’Productivity Dike Onwuamaeze The latest edition of the Lagos Workforce Productivity Report (LWPR) which studied experiences of employees working from home has revealed that 58 per cent of its respondents stated that they were less productive working from home.

The report which was carried out by the MusterPoint WorkSpace Solution (MWS) stated that, “most respondents (58 percent) are convinced of not being as productive as possible working from home. “It probably goes without saying that employees will certainly be more productive when they have access to more comfortable workspaces rather than just a ‘dedicated workspace.’�

The Founder and Chief Executive Officer of the MWS, Mr.

ECONOMY Tunde McIver, explained that the survey showed that irregular work schedule hindered employees’ productivity adding that only an inconsequential proportion of the respondents, 18 percent, were able to categorically affirm to keeping a regular daily work schedule.

McIver, noted that lack of a regular work schedule was one of the reasons that productivity suffered.

He said: “Seventy-five percent of the respondents have no work schedule,� while only, “31 per cent of the respondents identified keeping to their work schedules on ‘most days’ despite the several challenges working from home.�

Another reason that accounted for low productivity among those

working from home, according to the survey, was the non-availability of appropriate working place in several homes.

He said: “Employees have become very creative in these trying times, creating workspaces around their beds and on their dining tables. Only 58 percent of the respondents answered in affirmation of having a dedicated workspace while 42 percent resorted to any available space to carry out their assigned responsibilities. “The effect of an uncomfortable workspace cannot be over emphasised as it will most certainly have a negative ripple effect on the productivity of the respondents.�

The survey further stated that domestic distraction was the major downside of people working from home with interference from

family members taking the lead.

It added that, “since many residential accommodations in Lagos did not make provision for home office, the lines between home office space and living space has been blurred giving room for distractions.�

However, the survey observed that working from home does not necessarily meant that employees were doing less work as the opposite might be the case, particularly for diligent employees. “Working from home makes one end up working round the clock with no end in sight thus, burning out from lack of adequate rest. Sixteen percent of the responses gathered from the survey said the lack of distinction of work hours has been a major downside for them working from

AAAN Sets for LAIF Awards

Leading ďŹ lm maker, Femi Odugbemi and the Executive Creative Director, Ogilvy Africa, Yas Deb, have been named by the leadership of the Association of Advertising Agencies (AAAN) as speakers at a seminar being organised to boost this year edition of Lagos Advertising and Ideas Festival (LAIF) Awards. The theme of this year’s award is “Grind and Shine.

Addressing a virtual press conference recently, the Publicity Secretary of AAAN, Tope Jemerigbe, said the ďŹ rst speaker, would speak on; ‘The Place of Identity and How it Can Help us Distinguish ourWork in theWorld’, while the second speaker, would speak on A ‘ scendancy of Digital and the Shape of Our Industry Going Forward.’ Jemerigbe further stated that this year’s festival, which is the 15th edition would be held virtually on Saturday, December 12, in Lagos.

The LAIF Awards was instituted in year 2006 by the AAAN with the aim of recognising, rewarding and fostering creative excellence in all areas of marketing communications. An international status award, LAIF Awards has continuously promoted Nigeria’s creative potentials in the international circle as well as recognised outstanding creativity and created an avenue for the celebration of world class ideas.

The Chairman, LAIF Management Board, Mr. Lanre Adisa, stated that this year, through utilising technology, the organisers of the award, has created an online portal where all activities for the awards will be carried out. Submission of entries will be done using the online portal. Also, the jurors who will be working remotely will judge each category online through the portal.

Adisa further stated that due to current challenging market conditions, “wearepleasedtobeabletorewardcreativeexcellencewithintheindustry.

Every year we recognise advertising creatives, this year we will also be rewarding creative ideas of individuals within and outside the industry who are willing to participate in this year’s awards�.

P+ Measurement Marks 5th Anniversary

P+ Measurement Services, an independent Public Relations (PR) measurement and evaluation agency, has announced its ďŹ fth-year of successful operation in Nigeria with qualitative oerings.

The agency, whose strength is in media monitoring, PR measurement and audit, was said to have oered services to over 45 brands and 15 Public Relations agencies in its ďŹ ve years of operation in the country.

As the only AMEC Member in Nigeria, P+ has strong partnerships with the Nigerian Institute of Public Relations (NIPR) and Reel forge Media Monitoring; the biggest media monitoring agency in the East African region covering more than ďŹ ve countries.

Speaking on its business portfolio, the Chief Insights OďŹƒcer, Philip Odiakose, said every client media data has a story to tell and it depends on how strategic you are in ogging the data to yield meaningful results.

“VAT collections has indeed gone up, but Nigeria’s VAT gap remained at a pitiable 70 per cent, compared with SouthAfrica at 12 per cent, Morocco at 28 per cent, and Zimbabwe at 38 per cent, �

Executive Chairman of FIRS,

Continued on page 24

Mr. Muhammad Nami

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BUSINESSWORLD INSURANCE OPERATORS SEEK EXTENSION OF RECAPITALISATION DEADLINE exercise took due cognizance of the plight of companies and their shareholders.

NAICOM, had before now extended the deadline for insurance and reinsurance companies to meet its new capital requirements to September 30, 2021 from December 31, 2020.

NAICOM, also mandated that 50 per cent of the minimum paid-up capital for insurance and 60 per cent for reinsurance must be met by 31 December 2020.

The commission, had said a review of the recapitalisation deadline became imperative in order to mitigate likely negative consequences of the COVID-19 pandemic on the exercise.

NAICOM,stated that insurance companies that failed to satisfy the required minimum paid-up capital by December 31, 2020 may be restricted on the scope of business they would transact.

SURVEY: WORKFROM-HOME HURTING EMPLOYEES’ PRODUCTIVITY

home. Employees complained of lack of physical collaboration (14 percent) and lack of physical human contact (9 percent) as the downside of working from home.�

Other downsides, as indicated by respondents, included long work hours (12 percent); inappropriate work environment (12 percent); reduced productivity (nine percent) and loneliness/ mental health issues (seven percent) as the downside of working from home.

Yet, working from home has its advantages as 21 percent and 16 percent of the respondent identified zero commute time and having quality time with family, especially for married workers, as the highest benefits of working from home. “Without a doubt, the amount of time wasted on the road while going and returning from work has been eliminated giving employees more time to be productive while also reducing the stress associated with long commute time.

NEWS

Investors Stake N59bn on Shares as Market Extends Rally Goddy Egene Equities investors will for a long time remember the performance of the market last week as it gained N2.1 trillion following unprecedented demand that made the Nigerian Stock Exchange (NSE) All-Share Index (ASI) to spike by a record 12.9 per cent.

Investors also increased their level of investment, staking N58.733 billion on 4.509 billion shares in 47,140 deals, up from N22.636 billion invested in 2.067 billion shares, valued at N22.636 billion in 25,187 deals.

It was a historic trading week as the NSE ASI rose beyond the set threshold of five per cent triggering a 30-minute trading halt of all stocks for the first time since the Circuit Breaker was introduced in 2016. The circuit breaker protocol was triggered when the NSE ASI increased from 33,268.36 to 34,959.39.

However, the market reopened at exactly 1:25p.m., with a 10 minute intra-day auction session before resuming continuous trading till the close of the day at 2:30p.m.

The Chairman of Association of Securities Dealing Houses Association of Nigeria (ASHON), Chief Onyenwechukwu Ezeagu, said triggering the circuit breaker by the NSE was a welcomed development. “Usually circuit breaker is a safety valve that enables the

exchange manage unusual market price volatility, enabling market back room managers to stop trading and figure out the cause of the unusual development. This ensures stability and integrity of prices of stocks and forestall unintended consequences,�

Ezeagu said.

Meanwhile, the Financial Services sector attracted the highest patronage, leading the activity chart with 3.073 billion shares valued at N35.408 billion traded in 25,894 deals. The sector thus, contributed 68.2 per cent and 60.3 per cent to the total

equity turnover volume and value respectively.

The Conglomerates Industry followed with 437.822 million shares worth N771.280 million in 1,864 deals, just as the third place was the Consumer Goods Industry with a turnover of 373.613 million shares worth N7.816 billion in 7,471 deals.

Trading in the top three equities namely Zenith Bank Plc, FBN Holding Plc and Transcorp Hotels Plc accounted for 1.426 billion shares worth N18.083 billion in 9,537 deals, contributing 31.6 per cent and 30.8 per cent to the total

equity turnover volume and value respectively.

Reflecting the bullish trading, 69 equities appreciated, higher than 40 equities in the previous week, while 12 equities depreciated in price, lower than 24 equities in the previous week.

Oando Plc led the price gainers with 48 per cent, trailed by Japaul with 43 per cent. Northern Nigerian Flour Mills Plc chalked up 40 per cent, just as Livestock Feeds Plc and Fidson Healthcare Plc appreciated by 36.7 per cent

and 36.5 per cent in that order.

Transcorp Plc and Dangote Sugar Refinery Plc garnered 34.2 per cent and 34.5 per cent respectively. Neimeth International Pharmaceuticals Plc, Wema Bank Plc and Mutual Benefits Assurance Plc gained 33.5 per cent, 31.2 per cent and 30 per cent in that order.

Conversely, Ikeja Hotels Plc led the price losers with 9.9 per cent, trailed by Global Spectrum Energy Services Plc with 9.8 per cent. Morison Industries Plc shed 9.2 per cent, just as Consolidated Hallmark Insurance Plc went down by 8.1 per cent.

AWARD WELL DESERVED

L-R:Winners of the Association of Issuing Houses of Nigeria(AIHN), Investment Banking Award of year 2020, Chief Executive, Stanbic IBTC Capital, Mr. Funso Akere; Executive Director, Mrs. Oyinda Akinyemi; and President, Association of Issuing Houses of Nigeria (AIHN), Mr. Ike Chioke, at the presentation of the ‘Best InvestmentBankoftheYear’toStanbicIBTCbyAIHN,ataceremonyheldinLagos...recently ETOPUKUTT

NCS Intercepts Used Vehicles, Others Worth N17.4bn Eromosele Abiodun The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone ‘A,’ Ikeja has announced that it intercepted used vehicles, rice, poultry products and textiles worth N17.4 billion in nine months.

In a statement by the Public Relations Officer, FOU Zone A, Theophilus Duniya, the unit also said it issued Demand Notice (DN) on wrong classification and under-declaration of cargoes at the Lagos seaports from January to September.

According to Duniya, the acting CAC of the unit, DC Yahaya Usman, had vowed to block all revenue leakages, smuggling of illicit and prohibited goods in the interest of the nation’s socio-economic security across the South West geo-political Zone.

The statement reads, “The Federal Operations Unit of the Service was created to compliment the Area Commands to ensure that revenue accruable to the federal government is not lost to desperate and unpatriotic smugglers through their sharp

practices. Consequent upon this, the Ag. Controller, D/C Usman Yahaya, and his team are strongly determined to block all revenue leakages, smuggling of illicit and prohibited goods in the interest of the nation’s socio-economic security across the Zone (South-West). “From January-September 2020, the Unit increased the federal government’s revenue with the sum of N1.6billion as revenue from demand notices raised on cargoes for either being under declared, wrongly classified or falsely declared.�

FOU in the statement said the unit intercepted 117 units of vehicles and general goods in the year under review, “117 vehicles worth were seized for various offences with a Duty Paid Value of N17.4billion was intercepted.�

Yahaya, however, recalled that the unit had in the past intercepted containers laden with pump action rifles, tramadol drugs and smuggled cannabis among other dangerous substances and goods that would have succeeded in getting into wrong hands.

The CAC further reiterated the unit’s commitment and determina-

tion to enforce government ban on importation of rice, frozen poultry products, vehicles among others through the land borders.

He said, “We remain resolute at enforcing the federal government’s ban on the importation of all prohibited goods into the country; especially now that the land borders are closed. Importers are hereby, advised to make proper declarations and ensure compliance with the extant clearance procedure. However, smugglers are also warned to desist from sabotaging the nation’s economy through their activities.

Payment Service Banks, Game Changer for Nigeria, Says Envoy Peter Uzoho

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) 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)

The British Deputy High Commissioner (DHC) to Nigeria, Ben Llewellyn-Jones, has described initiatives introduced by the Central Bank of Nigeria (CBN), especially the Payment Service Banks (PSBs) as game changer for financial inclusion in the country.

Llewellyn-Jones said this in a

keynote address he delivered at the second edition of the Lagos Fintech Week with the theme: “Setting Agenda for Cashless Lagos�. Speaking on the benefits of a cashless system, Ben explained that electronic transactions could save time, increase business productivity, safety and tax revenue, reduce corruption and facilitate work against money laundering and terrorism.

He lauded the key role played

by Lagos State in developing solutions that are helping to drive broader financial inclusion nationwide, noting that the rate of financial access and inclusion is much higher in Lagos than the rest of the country, but said more remains to be done. “If there is a game changer for financial inclusion, but also cashless Lagos, it is mobile money. The

new payment service banks will serve people who the traditional banks regard as too poor to be of interest. Mobile money transfers are also suitable for small payments. “Among our neighbours in West Africa mobile money is gaining traction In Burkina Faso, Cote D’Ivoire, Senegal and Ghana, the proportion of people with mobile money accounts ranges from 33 to 45 per cent (Ghana). In

Kenya more than 80 per cent of the population has mobile money whereas it is only just starting in Nigeria. “Based on some recent modelling for UKAid the proper roll out of mobile money could add about 46 million people to the Nigerian financial system, boost GDP by 12 per cent and create three million jobs in Nigeria,� a statement quoted him to have said.

Osun Pledges to Revamp Tourism Sector to Engender Prosperity Yinka Kolawole in Osogbo .

The Osun State government has reassured the people of the state of renewed efforts to turnaround the culture and tourism sector in the state to enhance prosperity.

The State Deputy Governor, Benedict Alabi, disclosed this on Wednesday, in Osogbo, while

declaring open a day workshop on Osun Culture and Tourism Master Plan, organised for the management and staff of the ministry.

Alabi said, if the sector was fully developed as planned, it has the capacity and potency to turn the state to tourism haven, with attendant economic benefit

and improved standard of living for the citizenry. The Deputy Governor, emphasised that the ongoing transformation of key sectors of the state’s economy, specifically targeted agriculture, mining, tourism and culture as areas of comparative cost advantage.

According to him, the initiative

necessitated the Osun Economy and Investment Summit, held in the state late last year; the move that has begun yielding positive results in both foreign and local investments.

He, however, enjoined the management and staff of Osun Culture and Tourism Ministry to key into the vision of government

in developing the sector for the economic benefit of all, as well as training and retraining members of staff.

He said, “As a state, we are so much blessed in terms of cultural endowment and other resources, which we can utilise to develop our local economy and sustainable prosperity.

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Duru: FG Needs to Rethink Impact of its Policies on Businesses Chidi Duru, a two-term member of the House of Representatives before he ventured into the hospitality industry with Bon Grand Towers Hotel in Abuja, Ado Ekiti and soon, Owerri, is also an operator in the fintech sub-sector. In this interview, he spoke with journalists, including Davidson Iriekpen, about what informed his choice of businesses. Excerpts:

I

know that you’re one of those who started the present democratic government in 1999 and you held sway for two terms and disappeared, only to reappear last year and it wasn’t favourable to you. So what have you been doing since that time?

Well, from 2007 when I left the National Assembly, I focused more of my time, energy and resources on rebuilding my business. It is important to also mention here that before I went into politics full-time in 1999, I already founded a company that was in the environment, firefighting and asset management. So, after 2007, I went back to rebuild my business and fortunately, in the course of my stay in the National Assembly, I had the singular privilege of founding a company in the pension industry called First Guaranty Pension Limited of which I was the Vice-Chairman of the company. So, a lot more time was devoted to it and time was also devoted to my holding company called Grand Towers Ltd. Grand Towers Ltd is more of a venture capitalist, if you like, or a private equity investor that invests in identifiable opportunities in the sectors and one of the sectors we identified is the absence of shopping malls in Nigeria and our first investment was the Grand Towers Mall which is the first lifestyle shopping centre in Abuja that we sited in Akwodu Street, Abuja and attracted Shoprite.

The first Shoprite mall or shop was in my mall in Abuja and today, in Abuja, Shoprite is in about four other malls but I was the first person that had contact with Shoprite and brought them to Abuja. So from 2007, like I said, I got more involved in my business, in rebuilding my business and of course, getting involved in the affairs of my community, inspiring the younger ones, sharing my time and experience with them and of course, in mentoring which is something I like to do and have done over the years given the history of my family and the background where I come from.

It is not quite usual that people would leave the political arena, not someone who had some laurels as you won best legislator in the National Assembly in those days; so, what actually informed your taking a break from politics to go solely into business?

For me, it was not a deliberate choice and it was forced on me and a number of us.

In 1999, when we were elected for the first time into the House of Representatives in Nigeria, we set up a group called the G-14 and in that G-14 were people of like minds.

We had the Nduka Irabors of this world, the Tony Anyanwus of this world, Achobioma and Co, Faruq Lawan, Suleman Ishyaku and our confidence and conviction was that we wanted to change the paradigm. We wanted to contribute our quota in determining how the country is run and see whether we can help to position Nigeria differently and then to run best practices as you’d find it anywhere in the world. In 2003...I believe in 1999/2000, we succeeded largely because when we had the first Speaker of the House, Salisu Buhari, a lot of us felt that he could not represent us or reflect the standing of most of us that were members in the House of Representatives and therefore, a guided push was made by us to ensure that we remove him as Speaker of the House and then ushered in Ghali Umar Na’Abba and that principle guided us even when there was a deliberate impact by the then government to ensure that over 95% of us did not return in the 2003 election and particularly for people like me, who were the target of a deliberate government/executive effort to ensure that we did not return to the House of Representatives. 95% of my colleagues did not come back. I, for one, came back through the law court. It was actually the court that brought me back in 2004. So, the principle never left us. By 2007, it was very clear that having fought the battle and having continued

Duru to hold true to what we believed in which is that we believe in Nigeria and we believe that we have something much more to offer other than the normal ways of playing politics in the country, it was clear that the government had taken a deliberate effort to ensure that under no circumstances would someone like me and a particular Nze Chidi Duru come back to the National Assembly. So, after that, one took a bow and it wasn’t deliberate. It was forced on me and there was no other way other than to exit the scene and face my commitment to my business and, of course, my family.

You’re more or less someone who is private sector and development-minded. You were instrumental to creating the contributory pension scheme. What challenges at the time gave impetus to that design and to what extent has the original template succeeded?

I believe that again, by my training as a lawyer, I believe and I say it with every sense of conviction, that Nigeria is not in dearth of laws.

What we need in Nigeria basically is more of enforcement of laws. And I also believe that we also need to begin to address the policy trust and the institutional reforms that are required to move Nigeria from where we are today to where we would like to see Nigeria. And I mean: see Nigeria in competing with the rest of the world. One of the things that gave me joy is being offered the opportunity to serve as the Chairman of the House Committee on Privatisation and Commercialisation. Earlier before then, I was invited to chair the House Committee on Appropriation and I felt that my talent and my abilities would be better utilised in a committee such as privatisation and commercialisation and people didn’t understand how you were given a Grade A committee and you’re turning it down for what was thought

to be a committee that people just could not understand what it meant.

I was also fortunate to work with a reformminded head of the DPU that was responsible for midwifing the privatisation and commercialisation impetus of the government, which was Mallam El-Rufai under the main chairmanship of the Vice-President, Atiku Abubakar. Working together, we midwifed a number of reform-minded policy trusts in Nigeria and impacted what we now enjoy in the telecommunication space which is the telecoms reform bill. We midwifed the mobile network operation in Nigeria today and today, we have close to about four mobile networks operating in Nigeria: MTN, Glo, Airtel and we have 9mobile. But, at that time, it was basically three mobile network operators which are: MTN, Econet and Mtel which is the Nitel operator that later died.

Our vision was very clear. We needed to enable Nigerians to communicate from Point A to Point B. If you remember at that time, it was claimed that telephone was not for the poor. Having lines were meant for the rich, for the very few privileged ones that were privileged to have the 090, it cost probably about N250,000, sometimes N350,000 to acquire the line. And there were long waiting lists for you to acquire that. We were very convinced that if we were able to put lines in the hands of Nigerians, it will greatly transform not only our social life, it will transform even how we relate with each other. It will also transform our economy. It will enable a lot of businesses as we know today that has also done. Working with Mallam El-Rufai too, we were also able to again look into the horizon and came to appreciate the fact that we also needed to reform the power sector which we are lucky that we passed that bill. First, we attempted in 2002 but we couldn’t get it passed and assented to until 2004, when we started that process again and

then 2005, it was now passed and assented to law as an Act of Parliament by the President but of course unfortunately, the politics of that time did not allow the full liberalisation and investment that is required in seeing through the implementation of the reform that that power sector reform engendered in Nigeria. Because if it was done then, when the whole world was looking at Nigeria, when the investors were looking at Nigeria to invest money in Nigeria, I can wager that power would have been long addressed in Nigeria unlike what it is today.

The other thing we talked about but unfortunately, couldn’t get it passed was the competition anti-trust law. Lack of understanding of the impact of the dominant companies in the economy. It was very difficult to lead members to understand that unless we innovate rules and regulations that inhibit antitrust behaviour in a country, that Nigeria will suffer as a consequence of that. So, unfortunately, it was one bill I was interested in and couldn’t get it passed before we left parliament. But I’m happy that in 2019, that it passed of course with some measure of confusion. There’s a confusion whether it is an antitrust bill or a consumer bill. What I find now is that more emphasis is placed on the consumer aspect of the implementation of the Act on the anti-trust behaviour.

And, of course, you mentioned the pension reform Act. Nowhere in the world have those countries made progress without long-term funding. And it is the pension access that provides long-term funding that crystallises investment, that crystallises development and in more ways than not, that puts hands in the hands of the PEs, the venture capitalists to be able to take long-term positions in assets that they would like to acquire. For example, South Africa has close to over 500 or 700 billion dollars in pension assets. And many countries in the world have asset sizes of close to 3, 4, 5 trillion dollars. And you’d find that in Nigeria, with the pension gap, even without looking at the benefits of a reformed and restructured pension class in Nigeria, many of us are witnesses to the fact that it used to be the case that our fathers, who worked in the civil service, our friends and our brothers who worked in the civil service, would actually exit or die without accessing their pensions, because those pensions were largely unfunded and they couldn’t access them.

So, one of the strategic decisions that we took when I got involved in the pension industry was to look at it and tell you: what is it that we can do to address the issue of the challenges that faced the civil service and the civil servants while they were working and while they retired from service. And one of those things was the unfunded pension scheme and we looked at Chile and many other countries in the world that have been successful in innovating a largely successful pension scheme in their countries and we adopted the Chile model, which is to transform from an unfunded pension scheme to a refunded pension scheme to the extent that you are certain that your contribution to your scheme whilst you’re working is not only safe, it’s secure, it’s guaranteed and that when you retire, in the withdrawal, that your pension will be able to take care of your lifestyle for the rest of your life. That is one benefit of it.

The second benefit of that is to also have a pool of funds that will be targeted to longterm investment and development. Today, we have close to about N11 trillion in our pension asset and that, in a way, is good news even though in 2004, when we passed that bill, we had expected that by 2015, the asset class, the contribution in our pension scheme will be in the region of 30 to 40 trillion naira. And then if you’re talking of 2020, we should be discussing about 50 to 60 trillion naira in our pension assets. So, imagine what that would have been if those asset class are targeted at road infrastructure, building railway lines, building

Continued on page 26

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DURU: FG NEEDS TO RETHINK IMPACT OF ITS POLICIES ON BUSINESSES airports and a number of those asset class that can return inflation between assets returned to the pensioners.

In your business interest, it seems that you’re into real estate, hospitality and technology industry. What informed your choice of businesses and how has Covid-19 affected you as a practitioner in the hospitality industry and what is Airvend all about?

As a person and leading the companies that I lead, our first guiding principle is to identify disruptive businesses that impact on lifestyle and change how we live, how we commute and then more importantly also, earn us profit.

When we got involved in the shopping mall, which was the underlining principle. A number of us travel beyond the shores of this country and when you travel, if you want to come back to Nigeria, you’d see Nigerians log in bags and bags of things they have bought for themselves, their families and loved ones. To the extent that most airlines make more money in addition to what we pay as our air ticket, also for our luggage. That in any area of the world you enter the airport and you look at the line, you can easily identify Nigerians by the number of luggage that they carry.

And why is that so? Because they have shopping centres. They have big time retailers in those shopping centres that carry a number of the things that are not easily available in Nigeria. And the only shopping mall we had at that time in Nigeria was The Palms in Lagos. Shortly after that, was the Polo Park, which was undergoing development and that attracted our attention. And then, we looked at Abuja. We had the Cedi Plaza, which was basically‌ But then, we felt that we needed to bring Shoprite.

Shoprite was the dominant grocery store in Nigeria that was making waves, which had come to Nigeria and was trading at The Palms.

And it took years of engagement with them to the point that if we were not resilient, if we were not passionate about what we believed in and why we wanted to do it, we would have all given up. And then finally, in 2012/2013, we started and then we completed the Grand Towers shopping mall in Apo and then, Shoprite birthed and Abuja changed since then.

Ever since then, we have had about four shopping centres that have come at the back of that. And of course, our investment in pension asset which is First Guaranty Pension. Again, it was also life-changing.

I made a point that those who worked in the civil service and retired could not access their pension. And of course, the fact that we needed to have a very disruptive, long-term investment to enable people access that money and then get involved in those kinds of projects that we spoke about.

And of course, in the new world of fin-tech, enabling payments as we know it, being able to transact, make payments on the phone, buy your airtime, buy your electricity, pay your bills just by the touch of the finger and then transfer money from one phone to another and then bill collections as we have, which is also very disruptive as we have.

So, that also encouraged our investment in the fintech space. So underlining our interest is always: identify a disruptive industry that would enhance value and lifestyle and of course, enable Nigerians to live the same lifestyle as their counterparts overseas and we believe that once we are able to achieve that, the bottom-line would always look good as our businesses have always shown that these bottom lines look good.

On the hospitality industry, before COVID, we were always confident that people would always travel. And if you travel, you would like to find a place to sleep. And then, we felt that we needed to also get involved in that space. So, the Bon Hotel Grand Towers and first flagship interest in the industry and we partnered with a global brand that was formerly called Protea and changed from Protea to Bon and they currently manage all our assets in the hospitality industry. Then, we are going to find an opportunity in Ado-Ekiti, given that Ado-Ekiti had the Ikogosi Warm Springs which is more of a resort of its own and well-managed, could also help to, what we call, a destination in-country tourism.

If that happens, it would contribute to the footfall in our property and down there in Ado-Ekiti. Every family, every compound in

Duru Ekiti has one professor. I’m not talking of doctors or lawyers and all that. So, and Ekiti has close to three universities and one outstanding one which is private-sector led. That is, Afe Babalola University, which is one of the best private universities in Nigeria, in West-Africa and has also built one of the best medical facilities in Africa, supported by firms from Dubai and the United States.

So, they also helped to contribute to our footfall. And of course, Owerri. As you know it, it is a land of tourism and hospitality and we hope that...Were it not for Covid, Owerri was‌ It would have been ready for opening before the end of the year.

But we would be happy to say that before the end of next year, Owerri would be in our portfolio.

Shoprite you just mentioned, I think sometime last month or so, thereabout, there was this news that the South African partners were trying to pull out. So, what are you people thinking?

It is very unfortunate. Unfortunate in the sense that it took hard work, it took labour and it took a lot of traversing between Nigeria and South Africa to encourage Shoprite to look to Nigeria and then take the investment decision that they took. We approached many other grocery stores in South Africa; Pick and Pay and others but it was Shoprite that took that decision and invested in Nigeria first in The Palms, the Polo Park and Grand Towers mall and many other malls in Nigeria.

What one would have wished is through that investment, rather than one pulling out, we would have wanted to see more of those big departmental stores coming to Nigeria.

But instead, what has happened is because of the economic situation that we have found ourselves in, it is no longer profitable for most of them to operate in our environment.

I can mention to you a number of the stores that have come to Nigeria and have shut down and gone back home because of the difficult terrain that this economy represents for them.

Take a typical case in the last two months.

The naira has depreciated in the last two months from N360/$, to N370/$ to N380/$ and I don’t think you can get for N460/$ now on the parallel market. Sometimes, it gets to 470/$, goes to 480/$, comes down to 462/$.

So, if your goods are import-dependent, what you’d be doing, you’re no longer managing your business. You’re managing currency for CBN. Every day, you’re on your laptop just

determining what the currency value is and then, the next second, people are changing their price. So, that also creates some brand damage to your brand. Because if you come to my shop today and this phone is sold at N1,000 naira. And as you’re walking out the door and coming back because a friend told you: “Please can you also get me that type of phone?� and then as you’re coming back, the phone has gone from 1000 to 1200.

So, it’s a brand damage for a lot of corporates and I’m just giving you as a typical example of why corporates are finding it increasingly difficult to operate in this environment.

It’s regrettable that Shoprite indicated and filed that they’re pulling out of Nigeria as it is regrettable that any corporate that has come to Nigeria is going away.

What that calls for is that our government should step back and think through the number of the economic policies that are affecting businesses to truthfully operate in this environment, innovate those schemes, make it happen. And if it happens, this country with our sheer size, our number, will be in a position to attract the best of corporates in Nigeria to operate in our environment.

Most of these things you’ve talked about - investments, achievements and all that - you achieved them when you were young, maybe between your late 20s to early 30s. Juxtapose that with what is happening in our economy today where youths are calling for justice. You know, given the fact that most of our leaders today actually achieved what they achieved in their prime. So, take us through your experience growing up and achieving these at that youthful age against the backdrop of the environment now for youths and demand for redress.

Well, for me, I think it’s basically more to background. I would say that one was privileged to come from a background that was businessoriented. And I also learnt under the best of human beings who incidentally is also my dad who’s given to hard work, discipline and a man of integrity. He believes very strongly in hard work and the God factor. He espouses the view that when you work hard, help will always come your way and that what you are granted or given, it’s not because of you.

It’s for the development of not just yourself, your family but the community where you find yourself. And in doing that, you must be truthful and you must never do anything that will harm your fellow men.

If you put all of these together, it is the bedrock of his success and he impacted it on all of us.

So, we took that on and we moved on to the larger society. And one of the restraints he also imposed on us, his children, is not to ever get involved in government business. I think the only salary I’ve ever earned as working for the government was while I was in the National Assembly but outside of that, it is the principle of the Duru family that we don’t tender, we don’t dupe, we don’t accept any government work or job or whatever in that sense.

And he has a reason for that which I will explain later offline. But again, in our time, there was also a sense of the State reaching out to you. If not for nothing, most of us are benevolent to public schools, whether to federal government schools or state schools.

It is unlikely that people of our age went to private schools. I went to a primary boarding school but then the government took it over and we went to the school. And it cost, it was for nothing, really for those of us who went to public schools.

Now, if you benchmark it to what is happening today, I’m sure that if our kids are not in private school, it is maybe you’re taking a deliberate effort for your children to go to a public school. And in that public school, you probably have to think through it and work with a number of people to probably determine the quality of education that is going on in those schools. So, that engagement is not there. And yet, our youths are the bedrock of a society and these are people that would ordinarily... are the leaders. They call it the future leaders but I call them the present leaders because well managed, well groomed and well nurtured, these are people that would help to transform the society. The recent one I mentioned the experience of PayStack, I also mentioned the experience of AirVend which is the business that I lead and these are people under their 30s, who just left university and are being mentored and are being managed and they’re creating big businesses that can compete anywhere in the world.

What does that teach us? It teaches us that if government can creatively create a podium to engage them, to mentor them, to motivate them that Nigeria will be a better place. And fortunately for them and I also want to say fortunately for government, that the world has become a global village. What happened, is happening in Ghana, in US, these kids can relate with. Also what is happening in Nigeria. And the youths, the children that we’ve all brought up, some have gone to schools over there, all over the world, some have schooled in Nigeria but through these apps, through these phones they have, it’s easier for them to relate with the best practices all over the world. They find it intolerable and cannot understand even when we want to make excuses to them why things are the way it is in Nigeria. They refuse to understand that and it is a legitimate agitation.

So, what do we need to do? EndSARS, in my view, is a wake up call. EndSARS, in my view, is a youth telling us that they are fed up with the way Nigeria is being governed and they cannot accept any less. It is a statement to government that let us transform, let us reform, let us go back to the basics of what we need to do to be a great nation and we cannot pretend or play the ostrich that these are not legitimate demands and I hope and I believe that we will listen to it and we will harken to what they have told us or told those in power and that constructively, government will begin to address it.

It makes no sense that your parents will spend all the resources that they have, train you through school and you cannot even be sure of an opportunity of being employed when you leave school. Five years down the line, there ar e no employment opportunities.

And yet, someone else who left school, only because he’s a son of Mr. A who is connected to B, now gets employment in a government parastatal for which he is contributing little or nothing to the advancement of Nigeria. These are unacceptable to our youths. But if you create an enabling environment that would prosper and enhance opportunities for our youths to be meaningfully engaged, it now becomes a different equation entirely.

So, I think that this is what it all represents and I believe that given the stance of the governors’ forum and the speech that Mr. President made, that that engagement will begin to happen sooner than later.

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BUSINESSWORLD

NEWS

Telecom Operators Seek FG’s Support to Cushion COVID-19 Impact Emma Okonji The newly elected executive members of the Association of Telecoms Companies of Nigeria (ATCON) have restated the need for telecoms financing by government, in order to cushion the negative effects on telecoms businesses, brought about by COVID-19.

The newly elected President of ATCON, Mr. Ikechukwu Nnamani, who spoke shortly after his election in Lagos at the weekend, said part of the focus of the new exco, would be to pursue telecoms financing for all members.

According to him, a lot of mem-

bers have complained about the challenges of getting debt-to-equity access, and foreign exchange for those that require importation of technology equipment.

He promised that ATCON would continue to engage government in this and other areas. He also promised to strengthen the secretariat and help further growth of the industry by extending telecoms services to unserved and underserved areas of the country. “Setting up funds for telecoms financing is one major agenda the newly inaugurated exco will handle. We need funds either through a Telecoms Bank set up by government or a dedicated

fund outside of Telecoms Bank will suffice. “Banks say they can finance telecoms operations but they offer loans at high interest rate, which will not help the growth of telecoms business. So we need a dedicated funding of telecoms operations by the federal government, so that both small and big operators can benefit from the funding. “Again we will position our members in such a way that they can attract Foreign Direct Invest-

ments (FDI) to telecoms business.

It will help them expand their sources of funds and not relying only on local inflow of funds. I am saying this because telecoms operation is capital intensive and we need funds to remain in business,� Nnamani said.

Speaking on the impact of COVID-19 on telecoms business, Nnamani said: “We are challenged by the adverse effect of COVID-19 pandemic, but again, the challenge spur us into action to become

more innovative and today a lot of technology innovation can be seen in our tech space. “For example, the COVID-19 pandemic made us to suddenly realise that the services of our initial five years plan are needed now and we have to wake up to that reality.

So there is a need to accelerate the timeline to provide the critical infrastructure that is needed in today’s new normal, brought about by COVID-19.�

Giving the Association’s report from May 2018 to October 2020 during its Annual General Meeting (AGM), which was held before the commencement of the election, the immediate past President of ATCON, Mr. Olusola Teniola, said the association submitted a memorandum on the status of 5G network in Nigeria and its technological impact on Nigerian citizens, to the joint committee on communications, science and technology; and ICT Cyber Crimes.

Dana Resumes Enugu Route, Introduces AbujaOwerri Flight Chinedu Eze Dana Air has announced that it will commence daily flights from Lagos to Enugu and Abuja from November 17, with additional flights between Abuja and Owerri According to the Chief Operating Officer of Dana Air, Obi Mbanuzuo, the airline would operate daily flights from Lagos to Enugu and Abuja, while additional flights have been introduced between Abuja and Owerri. “The re-introduction of Enugu is part of our gradual and strategic route expansion drive and the frequent requests by our guests for us to return to Enugu and increase frequency between Abuja and Owerri to serve our teeming guests.’’ ‘’The hospitable people of

Enugu require an airline that can take them from point A to B conveniently, on schedule, with seamless value added services at very pocket-friendly fares. These are some of the options we are bringing to the good people of Enugu. ‘’ ‘’Our guests are advised to visit our website, download the our mobile on google play or Applestore or better still chat with us on WhatsApp for safe and ease of reservation or booking.’’ Dana Air is one of Nigeria’s leading airlines with a mix fleet of nine aircraft and over 27 daily flights to Abuja, Lagos, Port Harcourt, Owerri and Enugu.

The airline is reputed for its innovative online products and services, unrivalled on-time departures and arrival and worldclass in-flight service.

WorldRemit Launches Africafocused Entrepreneurship Programme Goddy Egene WorldRemit, the global digital money transfer service has launched its WorldRemit Entrepreneurs Programme in Nigeria, as well as in Kenya, Ghana, and Zimbabwe as part of the commitment to creating opportunities and facilitating development in Africa.

It also unveiled Patrick Nnaemeka Okorie(Patoranking) as the programme’s ambassador.

Since the outbreak of Covid-19 across Africa, the continent has experienced a significant setback with the businesses of many entrepreneurs taking a hit. These entrepreneurs control the Micro, Small, and Medium Enterprises (MSMEs) landscape, which have made significant contributions to the growth of the African economy especially through the creation of jobs.

WorldRemit said it is kick starting the investment to support and empower small businesses.

The programme will commence this month and run till the end of January, 2021.

Speaking on this partnership, Country Manager, Nigeria and

Ghana, WorldRemit, Gbenga Okejimi said: “Much of what Africa is today is due to its entrepreneurship which is a key driver for socioeconomic progress through significant job creation and innovation. “At WorldRemit, we want to be known for fostering the African entrepreneurship spirit. We want to be a part of Africa’s future prosperity. By helping build entrepreneurs across our African markets, we are enabling growth and development.�

According to the company, the programme would focus on empowering 50 entrepreneurs each, from the four African countries with a business booster pack and a digital business training course to help the programme participants develop the required skills to scale up and run their businesses successfully.

It explained that Patoranking, as the Entrepreneurship Programme brand ambassador would promote the partnership with WorldRemit and encourage people to enter the competition which will help to build entrepreneurship across Africa.

COURTESYVISIT

L-R:ExecutiveSecretary,Tetfund,Prof.EliasSulemanBogoro(left),beingpresentedasouveniorbytheChiefofNavalStaff,ViceAdmiralIbok-EteIbas,duringthe visitofTetfunddelegationtoNavalHeadquartersinAbuja...recently

Abdoll Now Exchange Telecommunications Chief Revenue Officer Goddy Egene International interconnect carrier, Exchange Telecommunications Limited (Exchange Telecoms), has appointed Riaan Abdoll as its Chief Revenue Officer (CRO).

The appointment became effective from November 2, 2020.

Commenting on the appointment, the Financial Controller of the company, Oluwatoyosi Adebakin, welcomed Abdoll to the company and expressed excitement over the recent award of the VAS Aggregator License by the National Communications Commission (NCC) to the company. “Riaan’s exceptional skill set will greatly add value to the company and we look forward

to the amazing impact and commendable milestones ahead.

Also, we are very excited about the new licence as it offers us an important opportunity to satisfy our customers in new ways. “Currently, Exchange Telecoms transits international calls originating from mobile network operators(MNO) networks in Nigeria to A-Z destinations abroad and with this new licence, we assure our customers of enhanced quality which further confirms our unwavering commitment and dedication to customer satisfaction.

We also see this as a diversification of our business offerings and a pivot into the future,� she said.

Adebanki said Riaan offers two decades of experience in key business-driver roles, with capability honed from many years

of agile corporate leadership with a focus on growth, expansion, and innovation, as part of a functional operational agenda. “Through strategic foresight, drive, and determination, he’s delivered a sustained performance for Africa’s most successful multimillion dollar companies. Offering expertise across the emerging Middle East and Africa markets, Riaan is an effective commercial tactician adept at setting strategic direction, building culture, developing teams, and transforming business operations to support Board mandated objectives. “Riaan joined Terragon Group in 2019 as CRO and led a rapid expansion of new client acquisition. During his time at Terragon he led the Revenue & Customer Success teams to deliver

world-class customer experience engagements for Nigeria’s largest brands (such as MTN, Access Bank, Guaranty Trust Bank Plc, Wema Bank Plc, Nigerian Breweries) and delivered over 500,000 new retail consumers.

Terragon remains on track to 2x revenue in 2020. “Riaan knows what truly drives conversions, mobile customer acquisition and business expansion across Sub-Saharan Africa. He has successfully launched a leading Video-On-Demand (VOD) and Digital Media Distribution startup in West Africa. He remains focused on expanding mobile technology services, purpose-built for Sub-Saharan Africa through partnerships that exploit fintech and technology innovations to maximise customer acquisition.

#EndSARS Victims Benefit from Coca-Cola, Whitefield Intervention Fund Oyefusi Idowu In response to the widespread violence that marred the peaceful #EndSARS protests and led to some deaths with many persons injured, CocaCola Nigeria and its bottling partners (NBC) has provided a N20 million donation to an NGO, Whitefield Foundation.

The intervention fund, according to a statement, is to help defray the medical bills of some of the hospitalised victims.

It stated that over the past

three weeks, Whitefield Foundation has processed over 900 requests from across the country, most of which were found to be unrelated to the #EndSARS incidents.

In all, it revealed that 185 patients being treated in 23 hospitals across nine states - Abia, Enugu, Ebonyi, Lagos, Edo, Rivers, Cross Rivers, Akwa Ibom and Plateau as well as the FCT, Abuja, benefited from the intervention fund.

The patients were treated for various degrees of inju-

ries, including gunshots, and amounts ranging from N10,000 to N300,000 were disbursed directly to their respective hospitals on their behalf. “Unfortunately, some of the patients have had to undergo amputation and will be provided with prosthetic limbs, to enhance their ability to function normally post-recovery. About 30 per cent were outpatients while 70 per cent were on admission of which 21 per cent had been discharged as at Thursday, 12th November, 2020,� the statement further revealed.

Speaking on the intervention, the CEO, Whitefield Foundation, Funmi Johnson said: “This has been an eye-opening, hope-restoring and sometimes heart-breaking experience for me. Going round hospitals in person, and also reviewing reports from agents and patients across Nigeria leaves me grateful to Coca-Cola Nigeria. Several people have been saved from untimely death by their support. “I appeal to corporate organizations and people of means to support NGOs to bring more

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RMAFC Member Expresses Concern over 2021 Appropriation Bill Hammed Shittu in Ilorin.

A member of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Alhaji Shuaibu Yamam Abdullahi, has expressed concern over the possibility of implementing the 2021 federal government’s Appropriation Bill when passed into law, in view of the nation’s continue dependence on oil as its major source of revenue and global economic meltdown.

Speaking with journalists in Ilorin, ‘Kwara state, Abdullahi

therefore urged the government to commence a thorough diversification programme in earnest that would be pursued with more vigour and aggression, if the budget proposal would not be a mirage.

He said, “Oil is an exhaustive commodity. The whole world is taking steps back from fossil fuel and China, for example, which is one of the highest buyers of fuel, is saying by 2024, they do not want to have petrol-fueled cars any more. “They (China) are thinking of

electric cars. That is what is in vogue now, no serious country thinks of oil on the long term again�.

Abdullahi’, a former governorship aspirant of APC during the last general election in the state added that, “Currently, oil has fallen to as low as $40. So who will buy our oil now? We are not producing to our full capacity because people are not buying.

The ones we are producing, we are not getting more than 40 percent of its value.� ‘�So the revenue of government

is very small and declining. I remember how life used to be in those days. “In primary school we paid nothing, in secondary school we also paid nothing. Even in my University days, I was paid to go to school. Even when I go home, I give my parents money. This happened at a time when oil wasn’t there. “How were we able to achieve that? It was through tax�.

He explained further that, “When you are 20 years, you

pay tax. People paid their taxes diligently. It was through that money that local authorities sponsored the school system.

We had exercise books free, we had text books free and we got sponsorships too. “Now with 200 million people, how many people pay tax in Nigeria now? Very few. “With or without the COVID-19 pandemic, there are certain structural issues affecting the Nigerian economy. “The Minister of Finance said that the problem of the

country is just one: To take care of the people. Nigeria has a population of 200 million people at least that is what many agree on. We depend on one product, oil, as sustainer of our economy.

So if there is anything that affects oil as it is currently, it affects the economy.�

He, therefore, advised the government to expand its tax net to cover millions of other people who have not been captured and have not been paying their taxes as expected of patriotic citizens.

Group Rewards Farmers Ugo Aliogo The Heart and Capital Nigeria Limited has recorded yet another milestone as she fulfilled her mandate to create sustainable wealth for farmers.

According to a statement, the company created a business opportunity under its farm management service where people could lease poultry pens and have it managed for them.

The statement said the business opportunity reduces the upfront capital requirements required to start up a commercial farm and confers all the advantages of owning a commercial farm in terms of economics of scale, “profit that cut out all the disadvantages and risk of high capital and improper management.�

It further explained that one of the reasons behind the particular proxy farming was because of the crippling effect of COVID-19 on the economy, adding that from the company’s feasibility study, it was deduced that a decent percentage of the population were looking into ways to diversify their income.

It noted that millions were paid out to the organisation’s proxy farmers with huge profit at the end of the four months farm cycle after the deduction of the farm management cost.

The Chief Executive Officer of

the company, Umar Adelodun, expressed the company’s commitment to achieving sustainability in Africa’s agriculture sector.

According to him, “This milestone demonstrates the strength and resilience of our business model especially during uncertain times such as the one we are in. This success wouldn’t have been recorded without the excellent service, accountability and continued investment in industry expertise of the company that reinforces our business value. “In the three years that we have been in operation, we have also mentored over 8,000 youths on agribusiness across the country, consulted for numerous agric companies across the African continent and created a platform (Farm2Table) through which people can order food commodities and have it delivered to their door steps, this platform served hundreds of households within Kwara State and the Federal Capital Territory (FCT), all through the lock down periodÂŹ. “We are exploring expansion opportunities into other African countries in order to fully achieve the Pan African dream of the company, further tap into the increase in global food demand and also take advantage of Africa’s unexploited arable lands.â€?

PTML Donates New Toyota Hilux Van to NPA Eromosele Abiodun The Ports and Terminal Multiservices Limited (PTML) has donated a brand new Toyota Hilux van to the Nigerian Ports Authority (NPA), as part of efforts to cushion the effect of the destruction of its facility by hoodlums who hijacked the recent #EndSARS protest.

The Managing Director of PTML, Mr. Ascanio Russo, who handed over the keys of the vehicle to the Executive Director, Engineering and Technical Services of NPA, Prof. Idris Abubakar, shortly after assessing the level of damage done to the NPA headquarters building, condemned the attack on the agency.

The attack, he said, was, “senseless�, as it has nothing to do with the EndSARS protest.

While sympathising with the NPA management, Russo assured of PTML’s commitment to continue to work together and support the Authority.

He said, “We came here as PTML and Grimaldi to express our sympathy to the Nigerian Ports Authority (NPA) for the horrendous attack they suffered three

weeks ago when the headquarters was burnt. “We came here to present this vehicle and this is a way for us to show our support to the Authority because we know that in times like this, it is our duty to support NPA, which has always been very supportive to us and to the whole port industry. “So it is for us to show our commitment to work together with the NPA and express our solidarity and be with them in this very difficult period and to sympathise with them for this senseless attack because this has nothing to do with EndSARS protest. This is just an attack by criminals, which we strongly condemn.�

Responding, Prof Abubakar expressed appreciation to the management of PTML for the donation.

While calling on other stakeholders to emulate PTML’s gesture by supporting the Authority, Abubakar noted that in addition to 27 vehicles burnt by the hoodlums, over 300 computers, 100 printers, photocopiers and other office equipment were stolen.

Lagos Lawmaker Empowers Community Ugo Aliogo The member representing Apapa Constituency 1, at the Lagos State House of Assembly, Hon. Mojisola Meranda, has empowered 102 petty traders in her constituency with the sum of N25, 000 each, to support their businesses affected by the COVID-19 pandemic.

Speaking at a constituency stakeholders meeting with the theme; ‘Post COVID-19 Pandemic: The Challenges and Prospects’ in Lagos, recently, Meranda said the financial support came at a time where a lot of people are actually losing their daily income, due to the recent crisis facing the economy, saying, “So I felt the desire to reach out to my people no matter how small it might be.�

Commenting on the selection

process for the 102 beneficiaries, she stated the committee focused on existing petty traders, adding that there are five groups and the forms were divided into those five groups. “So the selection committee goes into the street to meet the existing petty traders, not those that want to start businesses.

What we are doing is to see how we can show support for them.

In Apapa constituency, I have five wards that I’m covering. In each ward, I’m empowering 20 persons per ward and I later discovered two persons that were omitted and I had to add them which bring the total to 102,� she noted.

The Lagos House of Assembly Chief Whip hinted that the initiative was done in conjunction with her foundation. She remarked that though the empowerment programme was her initiative,

saying the state government organises town hall meetings in the 40 constituencies, “but in each town hall meeting I try to add one or two projects to it.�

According to her, “On personal level, I believe in empowering people. I believe we can tackle poverty through education and supporting businesses. “Whenever, I see people I have empowered in the past, I’m always happy and fulfilled because they have left that poverty line and that level where they make financial requests regularly. They can now afford things on their own and I can see the possibility of impact in the community. “The year has been very challenging; during the lockdown I was able to do palliative for people in my constituency. After that I embarked on decontamination of

my community just to ease the issue of the COVID-19, then immediately when the state government lifted ban on social gatherings, I also organised empowerment for the Motor Mechanics and Technicians Association of Nigeria (MOMTAN) in Apapa where I brought consultants to train them. “The training was for three days and it was aimed at teaching them how to move from analogue to the digital methods in car repairs and maintenance. “They were empowered with different sets of diagnosing machines to detect faults in cars. They were two diagnosing machines; the big and the small ones. The big diagnosing machine can detest faults in the automobiles and Sport Utility Vehicles (SUV), while the small ones can take care of the smaller cars.�

Ex-Perm Sec Harps on Building Strong Institutions in Nigeria Chris Uba Chief executives of government agencies in the country have been admonished to work towards building strong institutional frameworks to promote economic growth and the ease of doing business in the country.

A retired Permanent Secretary, Osuagwu Uwanuakwa, gave the advice while responding during his inauguration as Chairman of a 5-man independent Committee charged with the responsibility of

reviewing management practices in the Standards Organisation of Nigeria (SON), with a view to strengthening it for improved service delivery.

Uwanuakwa, commended the Director General of SON, Mallam Farouk Salim on his novel approach towards realising his vision for the organisation and promised to hit the ground running with members of the Committee. He promised that the members would endeavour to devote their time and passion to the assignment

with a view to delivering on the terms of reference within the time frame given.

A member of the Committee, Kabir Wudil, retired Director and former Special Assistant to the Chief of Staff to the President described the setting up of the Committee as an introspection capable of transforming SON towards greater contributions to Nation building.

Speaking earlier while inaugurating the Committee, SON Director General, described the

occasion as historic and going against the norms in an attempt to build strong processes for the organisation.

He mandated the Committee to examine the structure of SON, its processes and practices with a view to providing a template to address operational, service delivery and staff welfare challenges to entrench equity and fairness as well as provide greater opportunities for staff to better contribute to attainment of organisational goals.

UBA’s Atta Named among 100 Panel of Judges for Journalism Award United Bank for Africa’s (UBA) Group Head of Corporate Communications, Mrs. Bola Atta, has been selected among 100 panel of Judges that will determine the winners of this year’s prize for journalism

The award recognises, celebrates and empowers African women in the media who support female entrepreneurship throughout the continent.

According to a recent statement, together with Atta, the

judging panel for the APO Group African Woman in Media Award for this year also consist of other corporate communication senior executives across the world, with global icons such as Naomi Campbell

joined by executives at diverse organizations like, Microsoft, Africa Development Bank, Harley-Davidson and FIFA, Coca Cola, Master Card, Harley Davidson, LEGO, Twitter among others.

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Vaccines for Nigeria’s Inflation Rate Syndrome Vincent Nwanma Perhaps it is important to refresh memories with the simple definition of inflation – a persistent rise in the prices of goods and services over a period of time. Putting this definition in perspective, inflation erodes purchasing power, undercuts the intrinsic value of income, and reduces “buying power�, increases cost of living and thus demeaning standards of living.

Summarily, inflation is seen to be cancerous and unwanted like the COVID-19 pandemic. While everyone tends to think negative of inflation, it is interestingly not entirely bad. As much as no country seeks a high inflationary environment, a low-inflation environment is synonymous to low economic activities and in extreme cases may be early signals of economic recession.

To better drive home the point, the “simple� opposite of inflation is deflation, termed persistent decline in the prices of goods and services over a period of time. No country wants to be stuck with deflationary pressures. A case in point is the Japanese economy, which was stuck in a deflationary mode for almost two decades, defying all policy measures aimed at stimulating aggregate demand and price increase until 2013 when Prime Minister Shinzo Abe’s “Abenomics� stimulus policies helped revive parts of the economy out of the doldrums.

With every country dreading the Japanese experience, popularly known as the “lost decade�, which undermined the economic progress of the hitherto Asian Tigers, deflation is not a preferred choice for any country. Thus, the aspiration of every policy maker is a fine balance that ensures stable prices, with tolerable inflation rate levels that support economic growth without undercutting standards of living.

In principle and practice, the Central Bank of Nigeria (CBN) has over time reiterated its preference for a low-inflation rate environment, with target range of six per cent to nine per cent for headline inflation. While Nigeria is not a pure inflation targeting economy like South Africa and Ghana, which anchor their monetary policies on inflation expectations and target, the appetite of the Monetary Policy Committee (MPC) is reflected in the consistent policies and advocacies of the Committee towards addressing some of the notable fundamentals behind Nigeria’s obstinate inflationary pressures.

Over the past decade, headline inflation has averaged 11.7 per cent, with ebb and peak of 7.7 per cent and 18.7 per cent in February 2014 and January 2017, respectively. Like a pendulum, Nigeria’s headline inflation is quick to reverse any benign trend, which has been largely reflective of statistical and seasonal effects. While monetary policy authorities have repeatedly adopted “hawkish� monetary policies, aimed at stemming the wild pressures, the impact has been seemingly negligible.

If at all noticeable, the impact of a higher interest rate environment on headline inflation can only be traced to its probable impact on exchange rate stability, which has implications for stabilising the prices of imported goods and services. Notably, a higher interest rate environment often serve as a bait for attracting foreign and local portfolio investments in sovereign instruments, thereby increasing the autonomous supply of foreign currencies in the form of “capital importation – the hot money component� and reducing the speculative demand for foreign currency stockpiles respectively.

Notwithstanding the observable impact of a tight monetary policy on exchange rate stability and its domino effect on inflation rate, such probable impact is often transitory and unsustainable, as the core drivers of Nigeria’s headline inflation are barely monetary.

So why burn candles in the day?

Having the headlamps on during a fog helps to mitigate accidents but it can never be the solution to the fog. The primary responsibility of every central bank is “price stability�, which may be elaborately summarised to mean 1. Ensuring the stability of prices of goods and services; 2. Ensuring the stability of price of the local currency – otherwise called exchange rate stability; 3. the stability of prices of capital – simply put stable interest rate. Interestingly, this economic trinity is popularly seen to be impossible.

Perhaps the most challenging part of any CBN governor’s job is determining the equilibrium of this trinity that optimises societal progress.

Implicitly referencing the cause-effect relation-

Oronsaye ship amongst the three variables, Governor Godwin Emefiele in reviewing the Nigerian macros at its inaugural presentation on assuming office in June 2014 noted, “owing to the tight monetary policy of the Bank coupled with improved food harvest, inflation moderated to a six-year low of 7.9 per cent at end-April 2014. Debt-to-GDP ratio fell to 11 per cent, while foreign exchange reserves stood at US$37.15 billion as at 27th May 2014�.

This assertion succinctly describes how monetary policy tightening, manifested through high interest rate can help rein-in inflationary pressures and attract foreign capital, which is requisite for shoring up external reserve and ultimately stabilising the local currency, naira.

This primary role of the central bank is what puts the monetary authorities out as being responsible for taming inflationary pressures. It is truly so in many countries, particularly developed liberal markets, with strong monetary policy transmission mechanisms and limited structural constraints. Albeit, the peculiarities of Nigeria’s inflation defy this “logical consensus� and high expectations from the monetary authorities in stemming inflationary pressures.

To start with, headline inflation has two broad components: Food inflation and Core inflation.

Splitting the beans, the August 2020 headline inflation of 13.2 per cent was driven mainly by the soaring food inflation, which printed at 16 per cent, thus obscuring the relatively benign core inflation of 10.5 per cent. It is instructive to note that monetary policies can only at best be reflected in core inflation, particularly in a country like Nigeria where agricultural activities are still largely informal.

Whilst one may be quick to recognise the secondary role of the CBN in promoting economic development, the CBN indeed has limited role to play in improving agricultural productivity and addressing the structural challenges associated with harvest, transportation and storage etc.

A case in point is the masked impact of the CBN Anchor Borrowers programme, which helps to democratise credit to the otherwise financially excluded farmers. Notwithstanding the funding programme, a host of structural challenges may continue to mute the impact of the developmental intervention. With flood washing away over 450,000 hectares of rice farm, the demand-supply equilibrium for this essential staple has been distorted, thus suggesting probable price hike in the months ahead. This reality of inflation rate dynamics reinforces the limitations of Nigeria’s central bank in taming inflationary pressures.

More importantly, the outlook for inflation rate

is concerning, as the 13 per cent year-to-date rise in petrol price begins to reflect on transportation cost and consumer goods’ prices. The higher electricity tariff for consumer segments A, B and C would also exacerbate the inflationary pressure, especially given its implication on production costs.

Whilst both transportation and electricity are components of core inflation basket, the rising costs are non-monetary, rather a reflection of the structural macro challenges which are outside of monetary policy sphere. In fact, a tight monetary policy may heighten the crisis, as higher financing cost for power, transportation, manufacturing and infrastructure development amongst others would increase operating cost and ultimately impact consumer goods’ prices. ‌and what’s the vaccine for Nigeria’s rising inflation?

There are two pertinent questions that monetary economists are not asking to understand the position of the CBN and perhaps objectively assess the current regime’s unorthodox policies are: 1. Why is the CBN not increasing interest rate to stem the rising inflation? 2. Is the CBN not aware that a higher interest rate may help to stem the pressure on the Naira? Let’s attempt to answer these questions, perhaps situating the response in the contest of the CBN’s dilemma.

As the rising inflation rate coincides with declining interest rate, it is apparently tempting to play to the gallery by upholding the rationale of the monetary economists who increasingly posit the need to increase interest rate to stem inflationary pressures.

First, it is important to understand that headline inflation has very weak correlation with interest rate in Nigeria, given that the headline inflation basket is mainly composed of items such as food, which has little or no interactions with monetary policies in Nigeria. As observed in the case of flood washing away rice farms in Kebbi State, the rise in food inflation are mainly structural, beyond the CBN mandate and has less sensitivity to monetary policies, especially as the Nigerian agricultural value chain and logistics remain largely informal.

With core inflation at 10.1 per cent, the CBN may have less justifiable incentive for monetary tightening, particularly at a period when money supply aggregates are below the pre-set targets for the year. More so, the modest rise in core inflation has been devoid of money supply, rather it has been driven mainly by supply disruptions occasioned by closure of land borders, weak supply of credit, COVID-19 induced “lockdown� and other structural factors. This evidences the fact

that the rising inflation has not been demand-pull, rather reflective of supply shocks.

Thus, pursuing a low interest rate to stimulate credit to all the three economic agents; households, businesses, and government, can help reflate both demand and supply sides of the economy with the prospect for stemming supply induced inflationary pressures.

Incidentally, increasing interest rate at this time may exacerbate the supply-induced inflation, as a higher cost of capital for infrastructure and production, would ultimately be priced in the form of higher prices for consumer goods and services.

The uncommon logic of using low interest rate to stem Nigeria’s inflation Whilst it may be an “unpopular logic�, pursuing a low interest rate regime and channeling system liquidity towards infrastructure development and productive finance may be the true vaccine for Nigeria’s obstinate inflationary pressures.

As the CBN continues to leverage complementary tools; policy measures, moral suasion and direct interventions, to redirect credit towards financing of infrastructure and productive activities across the real sector of the economy, it may be able to address some of the age-long structural challenges undermining adequate local supply of basic consumer goods and subsequently rein-in the rising inflation rate.

Thus, it is a chicken-and-egg dilemma, which comes first: should interest rate be lowered to stimulate supply and stem cost-push inflationary pressures or should the CBN wait for inflation to moderate before unlocking credit to the real sector?

The hard decision Nigerians must make With savings rate lowered to barely 1.25 per cent and treasuries trading at low single digit, there are concerns on the ability of Nigeria to mobilise savings for the much-needed investment in Nigeria’s real sector. However, the hitherto unusually high-interest rate regime is rather a disincentive for channelling savings into investment. It is pertinent to note that savings in banks is a fraction of an economy’s savings pool, particularly in an economy like Nigeria, with low banking penetration.

More so, investment as loosely used in the macroeconomic parlance refers to fixed capital formation, which is purely investment in infrastructure and the real sector of the economy for sustainable expansion of output, unlike the perennial investment in sovereign instruments, with public sector borrowing crowding out private sector credit and investments in the rea sector.

Thus, the current low-interest rate environment may serve to discourage passive investments in sovereign instruments, which has very limited impact on economic growth, job creation and production while encouraging private-sector investments in the real sector. Interestingly, investments in sovereign instruments accentuates inflationary pressure, as it further exacerbates the demand/supply gaps for consumer goods, while private-sector investments through equity or debt financing that guarantee productive activities and capital formation help to strengthen local supply and moderate inflationary pressures.

More importantly, fixing Nigeria’s infrastructural deficit and industrialisation requires cheap, longterm capital that can encourage entrepreneurial activities, generate jobs for the teeming youths and ensure the profitability of businesses. As observed over the past decade, a high-interest rate regime can only at best widens the inequality gaps in Nigeria, undermine the competitiveness of locally manufactured products and threaten the survival of emerging SMEs. Beyond the relatively higher cost of doing business in Nigeria, local firms have had to compete with foreign peers, whose operations are financed with low single digit debt, thus naturally undermining the competitiveness of Nigerian firms, which are financed at double digit interest rates.

It is a choice for Nigerians, either earn a high interest on savings to pay higher cost for goods and contend with the social cost of rising unemployment, as Nigeria increasingly become a dumping site for foreign goods, or take the pain of earning low interest rate on savings, finance productive activities to lower inflation rate and earn sustainably higher income through mutual prosperity. t /XBONB BVUIPS PG 3FQPSUJOH #VTJOFTT BOE &DPOPNZ " )BOECPPL GPS "OBMZTUT BOE +PVSOBMJTUT XSPUF GSPN -BHPT

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Nigeria’s Power Industry and the Value Added Tax Qquestion Martins Arogie Background Nigeria’s Honourable Minister of State for Labour recently announced an agreement between the Federal Government and Organised Labour on the ongoing dispute around the implementation of the tariff adjustments which recently came into effect in the power sector.

The highlight of the communique was the announcement of a cumulative tariff subsidy of about N10.20 per kilowatt-hour which would be distributed amongst customers in bands A – C of the distribution network (customers guaranteed a minimum daily supply of at least 12 hours).

This subsidy (referred to as tariff relief) in the communique is expected to be funded by Value Added Tax (VAT) collections from the Nigerian Electricity Supply Industry (NESI). The communique does not contain details of how the relief would be applied or funded. Its issuance, however, provides an opportune moment to consider the workings of VAT in the NESI and its peculiar challenges.

VAT and the NESI – The Ideal Scenario About 87% of the total installed grid capacity in Nigeria today is from gas fired plants. Nigeria has significant gas reserves so it is unlikely that this would change soon. The sale of gas to generating companies, was until recently (depending on which side you are on – I will expound on this shortly), liable to VAT. Generating companies (Gencos) should however be able to recover any VAT paid to the gas producing companies (Gascos) from that charged and collected on invoices issued to the Nigerian Bulk Electricity Trading Company (NBET) or any other off taker. Therefore, the VAT paid to the gas producers should not be a cost to the Gencos and should have no impact on tariffs.

NBET is also not going to recognize a VAT expense as it is not the final consumer of the commodity and should recover fully, its VAT cost from that charged and collected from the Distribution companies (Discos). The Discos are also not final consumers, so, are expected to recover the VAT paid over to NBET from that charged and collected from end-users. The balance (if any) is what is then paid to the Federal Inland Revenue Service (FIRS) and is what constitute the VAT collection from the NESI which is referred to in the communique. The total amount paid to the FIRS across the value chain should be equal to the VAT paid by the final consumers to the Discos.

The situation however is far from ideal. There are peculiar challenges which has impacted the application of VAT in the NESI and this must be taken into consideration in discussing the tariff models and options for adjustment.

Electricity - a good or service?

This is a challenge, although one which has been reasonably resolved in favour of electricity being a good rather than a service. Gencos produce electricity through highly specialized equipment using gas as raw material. This electricity is thereafter sold to a whole seller who in turn sells to several smaller distributors or retailers for onward sale to the final consumers. This is similar to the distribution models in the fast-moving consumer goods sector, and therefore, there is no reason why VAT in the power sector should be treated differently. This issue only arose because of the limitations in our VAT system which restricts the claim of input VAT to only goods purchased for sale or for use in the manufacture of a new product on which the tax is charged. VAT incurred on any other item including all services should be expensed. Companies which expense VAT are only able to derive a tax benefit of about 32% of the amount incurred rather than 100% where they can recover it as input VAT. It is therefore important that all players continue to treat electricity as a good rather than a service due to the potential additional cost and impact on tariffs.

The author has comprehensively discussed the issue of electricity as a good in a previous article and would recommend it to interested parties.

VAT Exemption oOn Gas Sold The Minister of Finance recently issued a VAT modification order which exempts the sale of gas from VAT. The VAT Act authorizes the Minister to issue such an order. However, the validity of the exemption has since been challenged by the Government Agency responsible for its administration, the FIRS. The FIRS issued a circular wherein they claimed that the inclusion of gas amongst the items exempted from VAT in the modification order was erroneous. They

therefore opined in the circular that the exemption was not in effect, given the error.

We are not privy to the inner workings of the Ministry of Finance and the FIRS and the conversations that may have taken place between both parties before the issuance of the circular.

However, there is no place in the VAT Act for FIRS circulars in matters relating to the exemption of items from the tax. The Minister of Finance is the party so empowered by law and to the extent that the office of the Minister of Finance has not withdrawn the Order or issued any counter Order, we believe that gas today should enjoy the exemption.

Notwithstanding, given that the Office of the Minister of Finance has not clarified the issue, several Gascos have continued to charge VAT on gas supplied to Gencos.

It is also important to note that the application of the Order will not on its own resolve the VAT challenges in the NESI. It would only resolve that at the Gencos level as they and NBET would still be obliged to charge VAT on power generated and sold.

Deduction oOf VAT aAt Source And The Refund Mechanism Nigeria’s VAT Act places an obligation on Government and its agencies to withhold VAT at source. NBET qualifies as a Government agency and so is not expected to pay any VAT charged by the Gencos to them. This would perpetually leave Gencos in a refund position as they would have allowable input VAT from that paid over to the Gascos but no output from NBET from which they can offset. Gencos would have to apply for a refund from the tax authorities but this is not a very straight forward process as its grant would entail a comprehensive audit covering your entire tax records. This is typically a time and money consuming process which most entities would, if they can, avoid. Therefore, the VAT paid most times becomes either a cost or an asset which when realised has lost significant value because of inflation.

The above effect is not limited to Gencos but Discos with a huge Government customer base (which may be all of them given that Government today remains the biggest player in the country’s economy) would also be impacted.

Government and its agencies would deduct the VAT charged by the Discos from payment due from them. This may, depending on the quantum of payments due from Government and its agencies to the Discos, impact the amount of VAT collected by the Disco and its ability to recover that paid over to NBET. This is without taking into consideration collection losses as they also include the VAT charged on the tariffs. You would not expect to collect VAT from customers who have not even paid the actual tariff.

The Discos should be able to apply for and obtain a refund for any VAT paid over to NBET which it cannot recover due to the fact that its customers are obliged to withhold VAT at source, but then it would have to deal with the issues with the current VAT refund mechanisms

outlined earlier.

Matters arising with Proposed Ttariff Rrelief It is against the backdrop of the above, that I have considered the current proposal to fund the tariff relief from VAT collected from the NESI. As stated earlier, the communique does not contain details of how this is expected to work though it does appear, that the intention is to reduce end-user tariffs to reflect the relief proposed. This may however create additional issues which should be taken into consideration.

These issues include: Shortfall in VAT Ccollected Bands A-C constitute the highest paying bands of customers. Therefore, a reduction in the tariffs would automatically mean a reduction in the VAT collected. This reduced VAT will then be applied towards paying Discos for the tariff shortfall.

It is also important to state at this point that VAT collected is not exclusively owned by the Federal Government. The Federal Government has sole powers to legislate on the application of VAT and can exempt any item from the tax but it has limited powers on the application of the tax when collected as a portion of it is due to the State under current legislation. Until that is changed, it is debatable if the Federal Government would be able to appropriate any of the amount collected that is due to States without their express approval. Therefore, it is likely that the relief would be provided solely from the Federal Government’s share which would be reduced by the reduction in tariff. Now, the average cumulative tariff from Bands A-C may be around N150 per Kilo-watt hour with the VAT due around N11.25. The Federal Government is only due about 15% of this amount therefore, there may be a significant shortfall.

Collection losses It is expected that the amount of collection losses from bands A-C customers across the Discos would be minimal. However, there is no real data to support this expectation.

Notwithstanding, it is important to consider how the relief would apply to consumers who fail to pay their bills after enjoying the electricity supplied. The Discos would still expected to earn the relief on this category of customers even though they would not have contributed to the VAT from where the relief would be funded. This may not be fair and equitable.

Single point of charging and collection of VAT Given the challenges listed above, it is necessary to consider if the sector would be better served considering other options. One option which has been discussed severally in the past but is yet to see the light of day is the eradication of VAT across all parts of the value chain except at the final consumer level.

This would solve the problem of input VAT across the value chain and save players the

stress of applying for and obtaining refunds, a cumbersome process today. The FIRS and the Ministry of Finance had worked on a draft VAT modification order which was aimed to effect this option but it was never signed or published in a Gazette, so it never became operational.

Notwithstanding, its issuance would not solve the problem of tariff increases which is still an issue for Organised Labour. Government will therefore need to maintain the tariff relief as proposed and fund it with VAT collected despite the challenges mentioned above. This therefore in the long term may not be the most viable option.

VAT Exemptions Another option that may be considered is the complete exemption of electricity from VAT. This automatically provides a 7.5% tariff relief for all bands of customers without impacting current Disco revenues. Therefore, Government would not need to fund any relief, although this would mean a reduction in Government revenues in the long term. It is however noteworthy that while the initial tariff relief is only scheduled to be in effect for a 3 month period not extending beyond 31 December 2020, there is still no long term indication as to what would be introduced upon its expiration to address the concerns of Organised Labour on the impact of increased tariff on consumers. The complete exemption of electricity from VAT and the tariff relief it provides may be that solution.

Furthermore, it is important to take into consideration the class of items today which enjoy exemptions from VAT. They include basic food items, medical supplies and educational materials.

These are items which would constitute, to a discerning mind, basic utilities necessary for the survival of the populace. Electricity should ordinarily be included as part of these items and so it would not be out of place for it to be included in the list of items exempted from VAT. The long-term effect on Government revenue can also be tempered if the VAT exemption granted is time bound and limited to a period within which tariffs can gradually become cost reflective and marked improvement in supply observed.

Conclusion The NESI is delicately poised at the moment and its success is bound to have a trickle-down effect on all aspects of our national life, including increased profitability of companies and increased collection from taxes by the Government. There may be sacrifices required to get to this point and all parties must be willing to make those sacrifices.

The dialogue between Government and Organised Labour is ongoing to determine how best to address the issue of the tariff adjustment post December 2020 and all options must be thoroughly examined to ensure that the NESI is placed on a pathway for continued growth and development. t.BSUJOT "SPHJF JT B 1BSUOFS GPDVTFE PO UIF 1PXFS 4FDUPS JO UIF 5BY 3FHVMBUPSZ BOE 1FPQMF 4FSWJDFT %JWJTJPO PG ,1.(

MONDAY NOVEMBER 16, 2020 • T H I S D AY

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L-R: Commissioner for Health and Human Services, Dr. Oyebanji Filani; Ekiti State Governor, Dr Kayode Fayemi; Special Adviser to Ekiti State Governor on Development Partnerships and SDG, Mrs. Margaret Fagboyo; and Chief of Sta to the Governor, Hon. Biodun Omoleye; during the handing over of medical equipment donated by the SDG oďŹƒce to Ekiti State Government in Ado-Ekiti‌recently

President Muhammadu Buhari receiving Letter of Credence from Ambassador of Belgium to Nigeria, Mr Daniel Bertrand at the Presidential Villa in Abuja...recently

L-R: Chairman of the Ondo State Internal Revenue Service, Mr Tolu Adegbie, Governor Oluwarotimi Akeredolu and the ďŹ rst female Justice of Supreme Court from Ondo State, Justice Helen Morenikeji Ogunwunmiju during a function in Akure...recently

L-R: Minister of State, Housing, Abubakar Aliyu; Minister of Works and Housing, Babatunde Fashola; and Permanent Secretary of the Ministry, Ernest Umakhihe, when they appeared before the Joint Committee of Senate and the House for the defence of their 2021 Budget in Abuja...recently PHOTO: JULIUS ATOI

L-R: Danbawuro III Sarkin Ibi LG, Taraba State, HRH Alhaji Abubakar Salihu; Special Adviser to the Governor of Ekiti State on Federal Matters, Hon Makinde Araoye; Abia State Governor, Dr. Okezie Ikpeazu; the Aku Uka and Chairman Taraba State Council of Traditional Rulers Council, Dr Shekarau Angyu Masa-Ibi Kuvyo II; Chief Medical Director, Zenith Medical and Kidney Centre (ZMKC), Abuja, Dr. Olalekan Olatise: Director of Hospital Management, ZMKC, Dr Thelma A.O; former Minister of Information, Prof. Jerry Gana; Taraba State Governor, Mr. Darius Dickson Ishaku; Mrs. C.O Olatise; and former Minister of Information and Communication, Mr. Labaran Maku, when the management of ZMKC received the new SIGNA™ Creator MRI from GE Healthcare at itsAbuja facility...recently

L R: Chairman, House Committee on Urban and National planning,Hon. Abdulganiyu Olododo; Clerk of the Committee, Sulaiman Fatai and member of the Committee, Hon. Oluwole Oke during the 2021 budget defence of National Institute of Economic Research at the National Assembly in Abuja...recently

An accident scene at Zuba in Abuja...recently

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Minister of State for FCT, Dr Ramatu Tijjani-Aliyu, addressing Kogi youths and stakeholders during a ministerial dialogue for sustainable peace and progress in Kogi...recently

Representative of the Editor-In-Chief, News Agency of Nigeria (NAN), Mr Silas Nwoha (middle); Executive Director, G-Pole Africa and Co-Convener, New Nigeria is Possible, Mr Henry Debem (left) and another CoConvener, New Nigeria is Possible, Chris Nwani (right) during their visit to NAN Headquarters in Abuja... recently

Minister of State for Mines and Steel Development, Dr Uchechukwu Ogah (Right)) inspecting the level of destruction at Onions Market, Orata Gasline Aba/Port Harcourt Expressway in Abia State....recently

Representative of the Chief of Army Sta, Maj.-Gen. Hamil Sarham (right), inaugurating the Smart Factory and Vehicle Assembly Plant at Command Engineering Depot in Kaduna...recently

L-R: Deputy Governor of Zamfara State, Mahadi Aliyu-Gusau.; Governor Bello Matawalle of Zamfara presenting the ATM card for disbursement of cash to one of the beneďŹ ciaries of Poverty Alleviation Stipend (N-PAS), United Nations Poverty Eradication Project in Guzau...recently

L-R: Executive Secretary, Tetfund, Prof. Elias Suleman Bogoro and the Chief of Naval Sta, Vice Admiral Ibok-Ete Ibas, during the visit of Tetfund delegation to Naval Headquarters in Abuja...recently

L-R; Deputy Chairman, House of Representatives Committee on Financial Crimes, Rep. Umar Doka; Chairman of the Committee, Rep. Ibrahim Dutse; Clerk of the Committee, Mr Suleiman DanAlmajiri; another member of the committee, Rep Umeoji Chukwuma Michael, during the EFCC’s 2021 budget defence before the committee at the National Assembly Complex in Abuja...recently

L-R: Edo State Governor, Mr. Godwin Obaseki; his wife, Mrs. Betsy Obaseki; Deputy Governor, Rt. Hon. Comrade Philip Shaibu and his wife, Mrs. Maryann Shaibu, during the swearing-in/ inauguration ceremony of the governor and the deputy governor for a second term in oďŹƒce, in Benin City...recently

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CITYSTRINGS

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An Intervention Fund for Innovative, EntrepreneurialYouths At the recently celebrated maiden edition of the National Youth Day, the Minister of Youth and Sports Development, Sunday Dare unveiled the N75billion Youth Investment Fund, where 15 young Nigerians innovators were also specially recognised for their talent, creativity and innovations, writes Mary Nnah

T

wo significant things happened at the Aso Villa Banquet hall on November 1, 2020. It was the day the country celebrated maiden edition of the National Youth Day where 15 young Nigerians innovators were also specially recognised for their talent, creativity and innovations. It was also the day the Federal Ministry of Youth and Sports Development led by the Minister; Mr. Sunday Dare, launched the N75billion Nigeria Youth Investment Fund.

At the National Youth Day event with the theme: ‘Invest in the youth, secure our future’, President Muhammadu Buhari was represented by Minister of Federal Capital Territory, Muhammad Bello who congratulated the young innovators on making the nation proud, assuring them that his government will continue to invest in entrepreneurship, skills and career development.

The Nigeria Youth Investment Fund has been described as the cornerstone and most ambitious intervention fund targeted at young people to become wealth creators. As precursors to the N75billion fund had been a slew of other youth-focused initiatives of the Ministry of Youth and Sports Development and that of Ministry of Humanitarian Affairs, Disaster Management and Social Development such as the N-Power that have engaged 500,000 young Nigerians in the last five years out of which 109,000 of the beneficiaries have become entrepreneurs.

The federal government is targeting first quarter of year 2021 to absolve the next batch of 400,000 youths under the N-Power programme according to Aminu Nyako, Special Assistant to Minister of Hummanitarian Affairs.

Some other youth empowerment initiatives domiciled with the Ministry of Youth and Sports are the partnership with Mastercard Foundation and Corporate Farmers which seeks to engage 50,000 young Nigerians in Sorghum farming.

There is also a partnership with the IBM, a global technology giant to train 14,000 Nigerians in Digital Skills and Artificial Intelligence as well as the partnership the Minister, Sunday Dare brokered with Google to train over 20,000 youths across the country. Under the watch of the minister, Africa Development Bank is also working in partnership with the Nigerian government to launch a special fund for youth.

Speaking at the event, Mr. Sunday Dare in his 25-paragraph speech gave a panoramic view of the government investments in the development of young people as the future of the country.

He noted that the recent youth-led #EndSARS protests across the country against police brutality underscored the ability of the young people of Nigeria to demand accountability from leaders, most especially in matters that affect them.

Government, the minister said, will continue to celebrate the energy and talents of Nigerian youth adding that the National Youth Day celebration provided the rare opportunity for national introspection and more meaning engagement. “Against the backdrop of all our country has witnessed in the past three weeks, there can be no better time than now to celebrate our youth and validate their contributions to national economic development. “And indeed beyond the celebration of the potentials, ingenuity, talents, innovative ness and resourcefulness of our youth in Nigeria and across the world, this event, the maiden edition of the National Youth Day offers us as a people the opportunity to reflect, take stock and chart a new youth action plan that tackles headlong the issues that confront our teeming youth population,� the minister said.

On the current challenges of youth unemployment and shrinking opportunities for socio-economic mobility, Dare revealed that his ministry, at multilateral level, is working on a more structured and sustainable way in conjunction with the African Development Bank on a new focus and vision that will unearth and accelerate ingenuity among the young people of Nigeria. “Let me start with a direct reference to the new focus and youth vision of the African Development Bank led by Nigeria’s Dr. Akinwumi Adesina : that the establishment of Youth Entrepreneurship Investment Banks will help to fully unleash youth

A cross section of beneďŹ ciaries

The Minister presenting certiďŹ cate to one of the beneďŹ ciaries

Stakeholders at the event potentials through technology and entrepreneurship. This assertion made in September 2020 first validates the strength of our youth and secondly demands from government and the private sector direct investments in the youth population with a de-risking mentality.�

While alluding to the exploits and impactcreating talents of Nigerian young people at home and abroad, Dare said the success of one young person is an enabler and a source of inspiration for others.

He said, “The exploits of our youth here at home and across the globe signpost the fact that for every 100 Nigerian youth that excels, there are hundreds of thousands more that can achieve the same but are unable. Why? There can be no single reason but a myriad. Lack of opportunities. Education that is not suitable for the jobs available. A huge unemployment popular market occasioned by a struggling and sluggish economy, lack of relevant skills, lack of credit and access to finance for youth enterprises and businesses, low investment from the public and private in the Nigerian youth among others. “It is time we start to change this trajectory to one that is capable of lifting millions of our youth out of unemployment, under employment, frustration with the system, dearth of opportunities and stunted growth. The dreams and careers of

our youth must receive a new burst of energy and renewed hope so that as a country our future can be secured.�

Interestingly, the minister while speaking further at the event mentioned that the Buhari-led administration has been the most remarkable in Nigeria’s post-independent history in terms of initiatives that were designed as springboards for young people to fully realise their life ambitions, saying government in the last five years had initiated 25 programmes mainstreamed under various ministries and agencies. “President Muhammadu Buhari since the inception of his administration has never taken his eyes off the ball when it comes to youth developmental issues. He believes Nigeria youth are given to hard work and must be given the opportunities to prove this. This government has initiated a slew of multifaceted youth focused programmes that are cross cutting. “Wherever the youth group is found, these programmes target them. Indeed, when in July 22nd, 2020 the President in Council approved the establishment of the Nigeria Youth Investment Fund, NYIF, it was a culmination of all efforts geared at giving our youth the access to funds needed for enterprise. “The president, through the NYIF demonstrated that Nigeria was in sync and agreement with the

new thinking in youth development and that sees investing in the youth as a condition to unleash their potentials. As we speak, the NYIF as been oversubscribed for the 2020 half year funding provided for. Over 1 million applications have been received with more expected to come.�

A major highpoint of the National Youth Day was the special recognition given by President Muhammadu Buhari to some youth innovators in Nigeria including the 20-year-old Ahmadu Bello University, Zaria, engineering student Usman Dalhatu, who built a portable automatic ventilator to help people with breathing problems.

Dalhatu was among the five Youth Innovators in different fields showcased by the Federal Ministry of Youth and Sports Development at the occasion which also coincided with the African Youth Day Celebration. The ministry had earlier organised a 60-Day App Challenge competition in which 10 winners emerged across the country.

President Buhari in his address delivered on his behalf by the FCT Minister, Muhammad Bello, assured all the 15 innovators and all Nigerian youths that his government will continue to invest in entrepreneurship, skills and career development.

Among the Youth Innovators, who received cash donations of N500,000 each from the federal government are: Intissar Bashir Kurfi, Managing Partner, Ifrique Eco Solutions, a green Architect and environmentalist. Kurfi, in her late twenties, established a factory for up cycling plastic waste in Abuja. The factory would upcycle Low Density Polyethylene (LDPE) such as pure water sachets, plastic bottles, polythene bags and others into Interlocking Tiles.

Surajo Ismaila, 23-year old indigene of Rubochi in Kuje Area Council in Abuja, is a tractor, toys, vending machines and remote control inventor.

Adejoke Lasisi, founder of Planet 3R and Jokelinks Weaving School, an African fabric designer and environmentalist. She is the founder of Planet 3R and Jokelinks Weaving School – the first of their kinds in Nigeria.

Idris Bashir, 28, is the founder of Midrish Technologies Nigeria, credited to have developed an application to help farmers, small, medium and large businesses to reach out to their customers.

In the 60-Day App Challenge competition, 10 young Nigerians emerged winners including Anasiudu Ikechukwu, Elioenal Yomi-Agbajor, Adegoke Oluwatosin Amos, Daniel Osi, Isaac Isaac Ozioma, Yushau El-Sunais Sani, Adeniji Oluwaferanmi, Solomon Yakubu Zamba, Andrew Mogbolu and Olukayode Fadairo.

For the challenge, Dare revealed that thousands of entries were received for the App Challenge and after detailed process by technical partners, 10 entries were selected to receive cash prizes of N1 million each while a number of others won laptops.

Commending the federal government and the Minister of Youth and Sports for all the various intervention programmes, Ms. Bunmi Adeleye, Chief Executive Officer of Atunda, a business transformation consulting company urged government to also work on sustainability models so that all initiatives will deliver expected outcomes. “Our country, like all developing nations has many problems to be solved. For that reason, the opportunities for employment creation are huge if we adopt a more structured approach to all of these government investments targeted at youths. While government has done well on these initiatives it is time to take it a notch higher in terms of monitoring and assessing impact so that money is not just thrown at people who will be back to square one few months down the line.

9Right frame work should be put in place for evaluation and mentoring for the beneficiaries of the Youth Investment Fund such that five and 10 years from now we should know the value the N75b and other funds targeted at youths have created for the economy. India has done so well in transforming its young people as change agents and significant contributors to national wealth and productivity. We can use the India model to improve on what we are doing and take it to next level,� Adeleye admonished.

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T H I S D AY Ëž ÍŻÍ´Ëœ Í°ÍŽÍ°ÍŽ

CRIME&SECURITY

#EndSARS Mass Action and the Governance of Internal Security in Lagos Dr. Ona Ekhomu

I

t gives me great pleasure to present this paper on policing in Nigeria especially after the difficult events of October 21st and 22nd 2020 when a mass action embarked upon by #ENDSARS group almost brought the Southern part of Nigeria to its metaphorical knees. Southern Nigeria was hard hit by the acts of wanton violence unleashed by hoodlums after the Lekki shootings of October 20, 2020. The rioters looted, burned, pillaged, vandalised, compromised, damaged and destroyed assets throughout Lagos and other states.

Aside from attacks on property and trophy buildings such as the Igbosere Courts complex, the Nigerian Port Authority headquarters building and banks in Lagos State, the rioters targeted police facilities and personnel. The pattern of attacks, ferocity of attacks and frequency of attacks on police personnel, police stations and police cars would lead me to conclude that the mass action in Southern Nigeria was indeed an attack on the police agency.

Although correctional facilities, COVID-19 palliative stores and some homes of politicians were attacked, the principal target of the rioters was police personnel, police facilities and police mission.

The rioters also stole a large number of AK47 rifles and other weapons in police stations - arming themselves and presenting a grave threat to society. It is a known fact that insecurity in Nigeria is aggravated by the proliferation of illicit arms and small arms and light weapons in the West African sub-region. The loss of hundreds of police riffles to rioters is clearly a worsening or exacerbation of the arms proliferation in the country.

Moment of Silence At this time, I would crave your indulgence to rise and join me in observing a moment of silence in honor of gallant policemen who were lost in the #ENDSARS riots.

May their sacrifice not be in vain.

May their memory be a blessing.

May light perpetual shine on their souls.

May Allah forgive their sins and grant them Aljannah, Amin.

Conceptual Framework The key concepts in the paper are: #ENDSARS, Protests, Riots and Hoodlums. #ENDSARS: is a decentralised social movement which two years later translated into physical street protests by Nigerian youths. The movement started from Lagos and spread rapidly to all southern states. The movement gained currency in the south as youths could relate to the goal of ending police brutality as practiced by SARS and later F-SARS. I was informed by a senior intelligence official that it was the good work and hard work of SARS officials in Anambra State that brought an end to kidnapping in that state. He said that however, harsh interrogation techniques (extreme renditions) were used and that most suspects did not make it out alive from Awkuzu SARS office. They were presumed to have been extra-judicially killed.

The intelligence official added that the extra-legal murders were also predicated on the fact that kidnap and armed robbery cases charged to court were often handled with levity by apparently compromised judicial officers. The bottom-line was that the harsh tactics worked and violent crime was reduced to the barest minimum in Anambra State.

Lagos State SARS also recorded many successes against armed robbers and kidnappers. The “billionaire kidnapper�

Evans was investigated and arrested

by SARSS and prosecuted for his high profile crimes. It was however asserted by southern youths that with the reduction of violent robberies, the SARS personnel

National President of the Association of Industrial Security and Safety Operators of Nigeria (AISSON), Dr. Ona Ekhomu anked by wife, Mrs. Victoria and lliyasu Ahmed, Assistant Inspector General of Police Zone 2, Onikan, Lagos, who was conferred with AISSON Fellowship have decided to target them for extortion.

It was said that youths driving flashy cars were pulled over and their phones profiled.

These youths sometimes received rough chastisement in the hands of the elite crime fighters. The SARS personnel turned their investigative magnifying glasses on Yahoo boys, Yahoo plus, debtors, land speculators, etc. They were alleged to demand huge sums in extortion rackets and mete out beatings and threats of “wasting� i.e. killing to uncooperative subjects. The crisis reached a critical mass and youths organised against SARS adopting the hashtag #ENDSARS. Protester: Is a person who publicly demonstrates his or her opposition to a social condition, policy or action. Peaceful protest is a form of protected speech. In a democracy, peaceful protests are allowed.

The police have a duty to protect duly authorized peaceful protesters. When peaceful protest turns ugly, it loses the statutory protection.

Riot: A riot is an unlawful assembly or crowd whose intent is to cause harm to people and property. Riots are identified by stone throwing, firing of projectiles, burning, looting, beating, and killing. A riotous mob goes through several levels of escalation of their violence. If the reaction to the riot is slow or ineffectual, then it develops a life of its own and could spiral out of control. Lives are often lost in riots – as was seen in the recent #ENDSARS event.

Hoodlum: This word refers to a person who engages in crime and violence.

The terminology was freely used by the mass media to describe the persons who caused the mayhem in Lagos on October 21st to 22nd. At the peak of the crisis on October 21, the hoodlums controlled the streets after over-powering the police agency. There was palpable fear in Lagos.

A retired Naval Admiral asked me not to denigrate the violent protesters as hoodlums. He suggested the following terminologies: a) Angry youths, b) Palliatives hunters, c) Victims of circumstances, d) Disgruntled youths, e) Hungry youths, f) Brutalised youths, g) Marginalised youths.

Attacks on the Police The October 21st – 22nd attacks on police throughout Southern Nigeria were unprecedented and historical. We ought to study what happened, why it happened, how it happened and how it can be prevented. This post-mortem of the attacks will enable us identify the threat against police facilities and personnel to enable us better defend the police even as you provide internal security services to the Nigerian nation.

The Police agency lost 22 personnel throughout Nigeria during the unfortunate violence in October. Compol Yaro Abutu who is the Chairman of the IGP’s

EndSARS Damage Assessment Committee said that many police personnel are still not accounted for as the mobs chased some into the bush and their fate remains unknown. He said that many police personnel do not have uniforms as their uniforms were incinerated in the police stations. It is heart-breaking that some police personnel are now hanging around their stations like IDPs. Some have rented tents and plastic chairs and to enable them sit down. It is quite disturbing.

Let me begin by saying that I believe Nigerians love the NPF. Most law-abiding citizens consider the police their friends.

What happened in Lagos on Wednesday and Thursday (October 21st and 22nd) were well-coordinated and premeditated attacks against law enforcement using the excuse or pretext of shootings at Lekki toll gate to visit violence on the police.

Hypothesis It is not normal for members of the public to mount large scale attacks on public law enforcement officers. The attacks of October are unprecedented in the history of Nigeria where police personnel were systematically hunted and then killed or harmed by the members of the public that they serve. I therefore with to present a research hypothesis as follows: The attack on the police formations and personnel in Lagos was intended to dislodge the police and pave way for the looting that followed. This research hypothesis can be subjected to empirical validation when more data on the October attacks have been collected.

The Fall of Ajah The Ajah Police Station fell at about 1300 hours on October 21st. The station had been under siege by about 3000 rioters from 7AM of the fateful day. The gallant police personnel – about 12 in number fought back the youthful rioters who were intent on razing the police station. The law enforcement agents were boxed in the middle fending off rioters from the Western flank (Liberty Bridge side) and turning quickly to attack the rioters from the Eastern Flank (Abraham Adesanya Estate side). The police personnel would fire shots and push back the rioters alternately on each side. Eventually, it was said that criminal gangs from Victoria Island introduced guns into the theatre of battle and that changed the conflict.

The Ajah police apparently caused casualty among the rioters, some of whom were treated in nearby clinics and hospitals. No fatality was recorded. However, the crowd was overwhelming. The rioters were said to have stated clearly that they were intent on burning down the police station. Eventually, the firepower from VI helped to subdue the police personnel.

They all successfully escaped from the rear of their compound and then the station was sacked.

Losses at Ajah Police Station- the police facility was burnt down, the roof was vandalised – came off after the timber got burnt, the apartments behind the station were burnt down, arms and ammo were looted, police uniforms and accoutrements were looted, police vehicles and private vehicles in the compound were torched, exhibits were destroyed, suspects in police cells were let go, items of property were looted and the hoodlums recruited themselves into the police force and promoted themselves. One said he is now the DPO of Ajah.

The fall of Ajah Police Station was facilitated by the lack of backup on the fateful day. Given that Police Stations in Orile (where a police personnel was killed), Ikorodu, Surulere, etc. there was ample evidence that police facilities were targeted.

However, given the wide-spread nature of attacks against a wide variety of targets in Lagos on 21st October it became a herculean task to defend the Ajah Police Station. Aside from police stations, media houses, LG Secretariats, the family home of Lagos Governor were all attacked.

There is an urgent need to calculate the design basis threat for police stations.

Clearly, the threat of mass action is a grave one that can overwhelm the police facility and then cause irreparable harm.

The relevant questions: 1. How many police personnel can defend a police station from the kind of attack at Ajah on October 21st?

2. How many canisters of tear gas do they need? NOTE: No tear gas was fired before Ajah Division fell.

3. How can the armory be strengthen against looting by criminal?

4. What should be the protocol for calling for OP MESA or OP AWATSE to give aid to a police division in distress?

NOTE: RSS was off the roads on October 21st.

5. Can the police division have a mutual aid agreement with private organizations or host communities that will guarantee help in an emergency?

6. Can the police agency put helicopters to work in support of police divisions that are seriously threatened by hoodlums?

7. Can police stations have a better structural barrier to prevent easy breach by rioters and criminal elements?

8. Can police managers and executives conduct annual vulnerability assessments of police facilities to determine loopholes and quickly plug them? The Ajah division attack showed that there were several loopholes which the rioters exploited in breaching the station.

9. The police division should collaborate closely with the community it serves as their security is intertwined.

After the Ajah Division fell, nearby banks, businesses and stores were looted by the criminals. Vehicles were wantonly destroyed. Several estates raised youth vigilance groups for security after the fall of Ajah Division.

Hobbesian Reality The breakdown of law and order in Lagos on October 21st represented life in the state of nature. It was “nasty, brutish and short� according to English Philosopher Thomas Hobbes. Many police personnel lost their lives while trying to do their sworn constitutional duty of serving and protecting Nigerians. ...Ekhomu, CFE, CPP, CSP, PCI, CPOI and the National President of the Association of Industrial Security and Safety Operators of Nigeria (AISSON) presented this paper at the occasion of Conferment of Fellowship of AISSON on Mr. lliyasu Ahmed, Assistant Inspector General of Police Zone 2, Onikan, Lagos.

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

36

T H I S D AY Ëž ÍŻÍ´Ëœ 2020

BUSINESS/MONEYGUIDE

UBA Deepens Retail Banking with Digital Channels’Expansion The United Bank for Africa (UBA) Plc has deepened its retail products and services with an aim to delivering services aimed at meeting the needs of its customers across Africa.

The services and product offerings, targeting at all classes of customers have been specifically tailored to meet the unique needs of individual customers of the bank, in line with the customer first policy of the bank.

UBA’s Head of Retail Liabilities, Ogechi Altraide, who spoke during a virtual international media parley with journalists from all over Africa, pointed out that bank was well prepared ahead of the Covid-19 pandemic and had rolled-out a number of products that enabled customers to carry out their daily transactions with ease from the comfort of their homes.

She said, “At UBA, we have developed very deep and customer-centric solutions that have given us number one ranking over time. Our retail footprint cuts across 20 African countries, where we serve over 20 million customers through well researched platforms including

over 20,000 point of sales (PoS) as well as 3,000 ATMs deployed across the continent. “We have well over 10 million active cards, while our very active and highly applauded Mobile App and USSD platforms serve several millions of subscribers every second.�

Continuing, Altraide said, “Our retail banking platforms cater to all ages and classes with the kiddies and teens account - where parents can earn rewards and bonuses for saving for their kids, while also enjoying support in terms of scholarships and health insurance; Next Gen Account - which caters for young adults; mass marketing segment - made up of low to mid income earners; affluent banking for the premium banking experience as well as SME banking, which caters to meeting the needs of a niche industry essential for the growth of any economy.�

Throwing more light on the bank’s increasing support for the MSMEs, she explained that the bank offers both financial and non-financial services to this all-important sector as well as access to loans, adding that, “At

UBA, we recognise that SMEs are important to economic growth, therefore our various offerings for MSMEs is positioned to support them in this regard.�

Altraide noted that other retail propositions the bank has developed to promote financial inclusion are Diaspora Banking where customers can enjoy the same quality of services in all locations around the world through UBA Connect and Africash; and Agency Banking, which makes use of digital channels that allow customers to access UBA banking services right in their neighborhoods from our dedicated Agents.

Apart from UBA mobile banking, USSD, internet banking and LEO - UBA’s virtual assistant other innovative platforms that drive the bank’s retail business include UBA’s Click Credit - a much loved and accepted facility that makes instant cash available to customers with salary accounts within minutes.

Altraide added that already, over 50,000 people have benefited from the facility, adding that customers can access up to N5 million in a matter of seconds.

Baobab MFB Launches Four e-Channel Platforms Eromosele Abiodun In a bid to ensure that its customers enjoy smarter, more efficient, effective transactions and in line with the new normal in view of the COVID-19 protocols, Baobab Micro Finance Bank over the weekend in Lagos launched for new e-channels.

The channels - quick savings, which is known as USSD; debit card; Paydirect Branch and an App, were premiered during the bank’s annual customers’ forum held via Zoom.

Speaking at the event, the Managing Director/Chief Executive Officer of the bank, Dr. Kazeem Olanrewaju, said the bank would continue to invest in technology to create value for customers.

He said the bank has met all key ratios required by regulators despite the pandemic adding that the bank has disbursed N16 billion to its customers.

The bank, he added, has remain profitable adding that it has consistently grown its deposits, which moved from N8 billion to N11 billion this year.

He also disclosed that the bank has since the beginning of the year added an average of 2000 customers on monthly basis.

While assuring customers of

the banks determination to ensure that they stay in business, he said the bank during the COVID-19 lockdown restructured its customers’ loans and reduced charges.

On the e-channels, he said, “We are basically premiering four new products. We have also partnered with reputable financial technology companies to designed platforms tailored to the needs of our customers.

The first of the channels is our quick savings channel, which is known as USSD. For our USSD, the magic code is *322 *348.We have partnered with Interswitch to come up with this transactional platform. “With this, you can do funds transfer from the comfort of your home or anywhere, you can do funds transfer, make balance enquiries, buy airtime and pay bills. We are also introducing our Baobab verve card known as Baocard, it is a debit card that allows you to do financial transactions from the comfort of your plastic card. The cards are linked to our customers account at Baobab and as our customers do their transaction, their account with us is automatically debited and for every transactions you do you are going to get notifications.�

With the card, he said customers can do cash withdrawals at

an ATM, buy airtime at ATM or wed service, make bills payment. “Our cards are multi channels meaning customers can use it across a number of platforms.

We have also partnered with commercial banks to introduce what we call the Paydirect Branch.

This channels is a multi-account and multi bank collection solutions, it basically allows you to go to any participating Paydirect commercial bank in Nigeria, at any of their branches and make a direct credit into your Baobab account. The beauty of this is that our customers do not need to look for our own branches to do their transactions like loan repayments or do deposits into your account. “We have also launched our mobile app, a digital channel that customers can operate with their smart phones. All they need do is download the app and do the necessary things are they are live.

With this, they can do account enquiries, customers are also able to check their loan processing information. The App is designed to prompt our customers on when next they will repay their loans.

For those who have been using our other channels like our Taka platform, they can disburse their Taka loans through the mobile App, “he said.

Jumia Records Decrease in Operating Loss Emma Okonji Jumia has reported a year-onyear gross profit increase of 22 per cent in its 2020 third quarter report released recently.

The report showed an improvement in the operating loss, which decreased by 49 per cent compared to the previous year.

The report according to the company, was an indication that the Jumia brand was making progress towards profitability.

Commenting on the report, Co-Chief Executive Officers of Jumia, Jeremy Hodara and Sacha Poignonnec, said: “Having established Jumia as the leading pan-African e-commerce platform,

we have focused over the past 12 months on firmly advancing towards breakeven. The significant progress achieved was mostly attributable to the thorough work we have done on the fundamentals of our business, with limited support from external factors such as COVID-19. “The business mix rebalancing initiated late last year has increased our exposure to everyday product categories and, combined with enhanced promotional discipline, supported unit economics. We are making significant progress on our path to profitability with Adjusted EBITDA loss in the third quarter

of 2020 decreasing by 50 per cent year-over-year.�

Jumia’s fintech solution product, JumiaPay also recorded a year-on-year increase in Total Payment Volume (TPV) by 50 per cent. “We continued to drive robust growth of JumiaPay by more than doubling the penetration of JumiaPay TPV to over 25 per cent of GMV in the third quarter of 2020, a clear sign of our ability to drive prepayment adoption on our platform efficiently. We believe the fundamentals of our business have never been stronger, setting a robust foundation for the long term, profitable growth of Jumia,� Hodara said.

Kennedy Uzoka

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month 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™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE Ëœ ÍŻÍ° Í°ÍŽÍ°ÍŽ

The price of OPEC basket of thirteen crudes stood at $42.97 a barrel on Thursday, compared with $43.42 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

37

T H I S D AY Ëž ÍŻÍ´Ëœ Í°ÍŽÍ°ÍŽ

Experts Highlight Importance of Market Data for Investment Decisions Goddy Egene The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has stressed the importance of reliance on market data as a fundamental tool for making sound financial decisions, noting that the Nigerian case is no different.

Onyema stated this at the NSE 5th Market Data Workshop 2020 hosted in collaboration

with InfoWARE Limited, with the theme: “Handling shocks in the capital market: A quantitative risk management approach using market data.�

According to him, in Nigeria, the equities market recorded negative performance in the first quarter (Q1) of the year, with the NSE All Share Index (ASI) posting a quarterly return of -20.65 per cent. “However, the market saw an upswing since April 2020,

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and has so far gained +31.67 per cent as at 12 November.

This feat – particularly during the COVID-19 pandemic – can be attributed to smart investors bargain hunting and the release of positive year-end financial results of several listed companies, coupled with improved dividend declarations. It demonstrates the opportunities that abound in the market for discerning investors, even in a time of

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crisis, and underscores the importance of quality market data for investment decisionmaking,� he said. Speaking during a panel session, Head, Market Services, NSE, Olufemi Balogun, highlighted the importance of building financial or investment models that can be tested with real-life situations. Panelists agreed that the unprecedented happenings of 2020 have proven that reliable real-time and historical data

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that can easily be understood is critical to building these models.

Market Data Officer, Market Services, NSE, Ms. Anita Gopaldas, gave a presentation which highlighted the exchange’s wide range of reliable, accurate and timely market information services and data solutions across all asset classes and data products to market participants locally and internationally. Some of

O F

these provisions include the NSE API which ensures the dissemination of real-time data to stakeholders, FIX Order Management System which allows trade information to be transmitted from anywhere to the exchange and the recently upgraded X-DataPortal, which serves as a consolidated, streamlined platform for market participants to access quality and timely data at an affordable rate.

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MONDAY, NOVEMBER 16, 2020 ˾ T H I S D AY

MARKET NEWS

NSE Retains ISO 27001:2013 Certification for 5th Consecutive Year Goddy Egene The Nigerian Stock Exchange (NSE)

has retained its ISO 27001:2013 certification for its Information Security Management System (ISMS).

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

This marks the 5th consecutive year that the exchange will retain this certification since it was first issued

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 12Nov-2020, unless otherwise stated.

in 2015.

Commenting on the development, the Chief Risk Officer, NSE, Mr. Rasaq

Ozemede, said: “We are delighted to retain this ISO certification from the British Standards Institution, especially

at this time of heavy reliance on our digital infrastructure as we operate remotely.

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 169.94 171.64 31.67% Afrinvest Plutus Fund 100.00 100.00 1.17% Nigeria International Debt Fund 441.70 441.70 47.03% Afrinvest Dollar Fund 105.32 105.32 0.47% 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 1.05 1.03 14.94% ACAP Income Funds 0.85 0.85 11.22% 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 3.49% AIICO Balanced Fund 3.70 3.82 51.20% 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 Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.31 2.31 23.00% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.29 2.33 63.21% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 3.61% Paramount Equity Fund 16.60 16.91 32.66% Women's Investment Fund 136.84 138.38 24.08% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 2.12% Cordros Milestone Fund 2023 129.24 129.89 Cordros Milestone Fund 2028 147.19 148.43 Cordros Dollar Fund ($) 107.10 107.10 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 1.78% Coronation Balanced Fund 1.13 1.14 21.60% Coronation Fixed Income Fund 1.74 1.74 31.30% 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 1.62% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 1.31% EDC Nigeria Fixed Income Fund 1,189.29 1,205.75 7.35% 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 N/A N/A N/A FBN Balanced Fund 185.00 186.65 26.00% FBN Halal Fund 110.60 110.63 10.60% FBN Money Market Fund 100.00 100.00 1.76% FBN Nigeria Eurobond (USD) Fund - Institutional 118.73 119.11 5.28% FBN Nigeria Eurobond (USD) Fund - Retail 118.71 119.09 4.74% FBN Smart Beta Equity Fund 157.56 160.06 21.08% 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 2.33% Legacy Debt Fund 3.85 3.85 5.36% Legacy Equity Fund 1.53 1.57 35.69% Legacy USD Bond Fund 1.13 1.13 4.37% 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 N/A N/A N/A Coral Income Fund N/A N/A N/A FSDH Treasury Bills Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 2.61% Nigeria Entertainment Fund 129.90 130.43 18.14%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 2.19% Vantage Balanced Fund 2.91 2.98 33.40% Vantage Guaranteed Income Fund 1.00 1.00 7.50% Kedari Investment Fund (KIF) 156.96 157.93 9.57% 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 1.65 1.68 33.25% PACAM Fixed Income Fund 12.04 12.13 6.92% PACAM Money Market Fund 10.00 10.00 2.36% PACAM Equity Fund 1.41 1.42 PACAM EuroBond Fund 108.98 111.31 SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 133.89 136.59 8.32% 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 1.01 1.01 8.28% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,521.35 2,532.80 32.52% Stanbic IBTC Bond Fund 210.33 210.33 6.01% Stanbic IBTC Ethical Fund 0.88 0.89 33.33% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 7.16% Stanbic IBTC Iman Fund 154.92 156.64 35.16% Stanbic IBTC Money Market Fund 100.00 100.00 1.63% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 30.23% Stanbic IBTC Dollar Fund (USD) 1.22 1.22 4.85% Stanbic IBTC Shariah Fixed Income Fund 110.42 110.42 5.96% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.44 1.4648 20.65% United Capital Bond Fund 1.8729 1.8729 8.28% United Capital Equity Fund 0.9100 0.9376 29.26% United Capital Money Market Fund 1.00 1.00 2.28% United Capital Eurobond Fund 115.85 115.85 6.01% United Capital Wealth for Women Fund 1.09 1.10 3.79% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.13 12.28 18.07% Zenith Ethical Fund 13.46 13.60 15.93% Zenith Income Fund 24.83 24.83 9.28% Zenith Money Market Fund 1.00 1.00 2.24%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

119.50

6.47%

53.51

2.80%

Bid Price

Offer Price

Yield / T-Rtn

11.23 128.79 93.73

11.33 128.79 95.46

33.44% 34.89% 24.76%

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.72

4.76

36.70%

Vetiva Consumer Goods Exchange Traded Fund

6.07

6.15

2.70%

Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund

16.56 1.00 15.78

16.66 1.00 15.98

35.62% 1.93% 51.37%

230.90

232.90

20.93%

NAV Per Share

Yield / T-Rtn

107.71

13.11%

Fund Name Vetiva Banking Exchange Traded Fund

Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

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 NOVEMBER 16, 2020 ˾ T H I S D AY

39

INTERNATIONAL

US Election: Trump Retracts, Says I Didn’t Concede Defeat Says Biden won but election was rigged

President Donald Trump appeared to edge closer towards acknowledging his election defeat in a tweet on Sunday morning, as he again railed against supposed mass fraud in the vote won by challenger Joe Biden.

Trump has refused to concede the November 3 US election to challenger Joe Biden, and

repeatedly said he intends to overturn the result through legal cases.

His aides say he is preparing for a second term in office despite the vote count confirming Biden’s clear victory.

He won because the election was rigged. No vote watchers or observers allowed, vote tabulated

British PM Self-isolates after Contact Contracted COVID-19 British Prime Minister, Mr. Boris Johnson, is self-isolating after someone he was in contact with tested positive for the Covid-19 virus, a spokesman said Sunday.

“He will carry on working from Downing Street, including on leading the government’s response to the coronavirus pandemic,” the Downing Street spokesman added.

Johnson was hospitalised with coronavirus in April.

This time round “the PM is well and does not have any symptoms of COVID-19”, the spokesman said.

The prime minister was informed that he should selfisolate after being contacted by the country’s Test and Trace scheme.

The announcement came after Johnson met a small group of MPs at Downing Street on Thursday, including one

who subsequently developed symptoms of Covid-19 and has now tested positive.

Johnson, 56, contracted Covid-19 and was placed in intensive care where he spent three nights in April, later crediting hospital staff with saving his life.

The British leader has said that his coronavirus case was seriously worsened by being overweight, but that he had since lost 26 pounds (12 kilograms).

“I am going to continue that diet, because you’ve got to search for the hero inside of yourself, in the hope that that individual is considerably slimmer,” he joked last month.

Britain has been the worsthit country in Europe by the pandemic, recording over 50,000 deaths from some 1.2 million positive cases.

by a radical left privately owned company,” Trump tweeted in his clearest yet admission of defeat..

The phrasing — coming two days after a slip in which he said “time will tell” if he remains president — was immediately seized upon as one more step towards admitting defeat.

But the president soon followed up with a sharp U-turn, tweeting “He only won in the eyes of the fake news media. I concede nothing! We have a long way to go.”

Thousands of Trump supporters rallied in Washington on Saturday, backing his claims

of fraud, with clashes erupting in the evening with rival protesters.

At least 20 people were arrested, reports said, including four for firearm violations and one for assault on a police officer.

Trump himself made a drive-past of the rally in his armoured motorcade, on his way to play golf, smiling through his limousine window to wild cheers and signs saying “Best prez ever” and “Trump 2020: Keep America Great.”

Many of Trump’s tweets over the weekend alleging the election was rigged against him have been tagged by Twitter as containing

“disputed” information.

John Bolton, Trump’s former National Security Adviser, told CNN’s “State of the Union” show on Sunday that “as every day goes by, it’s clearer there isn’t any evidence” of fraud.

“Donald Trump lost… by a free and valid election,” Bolton said, adding “I don’t expect him to go graciously. I do expect him to go.”

On Saturday, at least 10,000 people — few wearing masks — massed in Washington’s Freedom Plaza before marching to the Supreme Court in a raucous atmosphere reminiscent of a

Trump campaign rally.

After dark, groups of Trump supporters and counter-protesters clashed on the streets, scuffling and throwing punches.

Trump seemed to be following the evening’s events, accusing the city’s mayor of “not doing her job” and calling on the police to “get going — do your job and don’t hold back.”

The latest vote tallies gave the Democrat Biden a clear win in the state-by-state Electoral College that decides the presidency, with 306 votes against Trump’s 232.

Two hundred and seventy votes are required for election.

Supporters of US President, Mr. Donald Trump, rally at the US Supreme Court in Washington, DC…weekend

AFP

UAE to Grant Infectious Biden Considers Hillary Clinton for UN Ambassador Role US President-elect, Joe Biden voter fraud without providing Ron Klain as his White House unelected job in government chief of staff. It had been rumoured that does not require Senate reported to be considering evidence.

Disease Experts, Others isHillary Mr Biden’s team has been for months that Mr Klain, a lawyer confirmation.

Clinton for a role in his According to various media with the former vetting potential candidates for who also advised Barack Obama, 10-year Residence Visa administration, reports, Mr Biden is likely to return Secretary of State in the running top roles in his administration would get the top job.

The United Arab Emirates said on Sunday it will grant all doctors and infectious disease experts living in the country a 10-year visa, who are helping to combat the coronavirus pandemic.

Foreigners in the UAE, like most Gulf countries, are generally only given limited residence visas tied to their current employment, and long-term residency is difficult to obtain.

But to attract wealthy business people and highly skilled workers, the UAE last year launched the “Golden” 10-year visa programme, which is now being expanded.

Those eligible include holders of doctorate degrees, medical doctors, and computer, electronics, programming, electrical and biotechnology engineers, tweeted Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum.

“We are keen to embrace talent that drives future development and this is only the beginning,” said Sheikh Mohammed, who is also the ruler of Dubai, which has the most diversified economy in the Gulf.

Students from accredited universities who are getting top grades could also qualify, he said, along with those

holding specialised degrees in artificial intelligence, big data and epidemiology.

The scheme last year drew in some 6,800 investors, in a windfall worth $27 billion for the economy.

Foreigners account for 90 per cent of the population of some 10 million in the oil-rich UAE, the Arab world’s second-largest economy.

The country has so far recorded more than 150,000 cases of the coronavirus, including 530 deaths.

A months-long lockdown and the impact on tourism and business has done serious damage to the economy, which was already slumping in recent years due to low oil prices.

The “Golden Visa” was the first such scheme in the Gulf, which keeps tight control on residency.

Similar programmes have been launched in other countries that seek to diversify their economies such as Saudi Arabia and Qatar.

Riyadh said in June 2019 that it will offer permanent residency for 800,000 riyals ($213,000) and a one-year renewable residency costing 100,000 riyals ($27,000), allowing expats to do business and buy property without a Saudi sponsor.

to become the US Ambassador to the United Nations.

Clinton, who lost to Donald Trump in the 2016 presidential election, is “being discussed” as a potential pick for the role, according to the Washington Post.

The president-elect has already begun assembling his coronavirus taskforce, and in the coming months will need to choose the members of his cabinet. Discussions are underway, even as Mr Trump has refused to concede the election, citing

for months, and a number of options are to be presented to him in the coming days.

On Ms Clinton, sources told the Post that the move “would be a way for Biden to highlight the importance of that position in his administration, and that placing her there would raise the prestige of the UN itself at a time when global cooperation and the US role on the world stage, has ebbed”.

On Wednesday, Mr Biden chose the veteran Democratic operative

Mr Klain, 59, served as Mr Obama’s “Ebola tsar” and has been a fierce critic of Mr Trump’s handling of the coronavirus pandemic.

He worked as a top aide to Mr Biden when he was still a senator for Delaware, and ran his office when he first became vice president.

Mr Klain reportedly fell out with Mr Biden’s team after he offered to support Hillary Clinton’s 2016 run for the White House. But he now has the most important

to some familiar faces from the Obama administration as he builds his national security team, while at the same time restoring principles of foreign policy discarded by President Trump.

The New York Times reported that the expected return of more seasoned hands has already been causing disquiet among younger, more liberal Democrats who consider the party’s pre-Trump national security instincts “badly outdated”.

Gunmen Kill 34 in Attack on Passenger Bus in Ethiopia Gunmen killed at least 34 people in a “gruesome” attack on a passenger bus in West Ethiopia, a part of the country that has recently seen a spate of deadly assaults on civilians, the national human rights body said on Sunday.

The Ethiopian Human Rights Commission (EHRC) said in a statement that “the estimated number of casualties, currently at 34, is likely to rise” from the attack which occurred Saturday night in the BenishangulGumuz region.

A spokesman for the commission, an independent government body, confirmed that the casualties were all

deaths.

The EHRC statement said the bus attack occurred in the Debate administrative area, and that “there are reports of similar attacks” in three other areas, as well as “of persons who have fled to seek shelter”.

Prime Minister Abiy Ahmed’s government has provided scant information on recent violence in Benishangul-Gumuz, particularly in Metekel zone, where Debate is located.

Twelve people were killed in an attack in the zone in October, while 15 died in a similar attack in late September.

Addressing lawmakers in October, Abiy said fighters

responsible for the killings were receiving training and shelter in neighbouring Sudan and that Khartoum’s assistance was needed to stabilise the area.

There is no known link between the violence in Benishangul-Gumuz and military operations in Ethiopia’s northern Tigray region, which have killed hundreds and sent more than 20,000 people fleeing over the border into Sudan.

Opposition politicians have described the violence in Benishangul-Gumuz as ethnically motivated.

Specifically, they say there is a targeted campaign by ethnic Gumuz militias against ethnic

Amhara and Agew living in Metekel.

“The unrelenting pace of attacks on civilians in Benishangul-Gumuz calls for higher vigilance and a more coordinated action between regional and federal security forces,” EHRC chief commissioner Daniel Bekele said Sunday.

“We urge the federal and regional security and judicial authorities to work together, and in consultation with the local community, to redesign a regional security strategy that can put a final stop to these attacks.”

40

MONDAY NOVEMBER 16, 2020 ˾ T H I S D AY

NEWSXTRA

Zamfara: Why We are Negotiating with Bandits Onuminya Innocent in Sokoto Zamfara State Government has said it would continue to negotiate with bandits operating in the state untill peace fully returns to the state.

The state Commissioner for Security and Home Affairs, Alhaji Muhammad Abubakar stated this in his office at Gusau, the state capital at the weekend.

According to Abubakar , the talks between government and bandits have been yielding positive results with the release of a number of people held captive by the bandits on several occasions.

“We are making progress and have achieved much in the reconciliation as many gunmen and their leaders are accepting to put down their weapons.

Don’t Meddle in Our Internal Affairs, PDP Tells APC ChuksOkochainAbuja The Peoples Democratic Party (PDP) yesterday accused the All Progressives Congress (APC) of seeking to divert attention from its failures by meddling in the main opposition party’s internal affairs.

The main opposition party was reacting to an allegation by the APC that it is broke.

The PDP urged the APC to concentrate on how to solved the crisis before it, especially the increase in the fuel price, instead of getting involved in the PDP’s internal affairs According to the PDP in a statement by its National Publicity Secretary, Mr. Kola Ologbondiyan, the APC is desperate to divert attention from its wicked increase in the pump price of fuel to N170 per litre; the indicting revelations from the EndSARS enquiry panels as well as Saturday’s abduction of children in Zaria, Kaduna State by gunmen, who had scaled up attack on Nigerians while the APC abandoned governance to seek consultancy job in other political parties.

He said that by launching this childish smear campaign against

the PDP, the APC has exposed its mortal fear over the reorganised PDP, and dazed by its vibrant opposition.

He said that the APC is discomfited by the PDP’s repositioning as the rallying platform of Nigerians from all divides in their collective quest to rescue the nation fromAPC-imposed hardship, violence, bloodletting, decayed infrastructure and mortgaging of the nation to foreign interest.

According to the PDP, “We are however not surprised that the APC, which recently admitted to be a party of ‘bandits’, whose leaders are like ‘criminal bandits ravaging our communities, towns and villages,’ will reduce itself to a confused busybody, having been overwhelmed by the burden of failure and repulsion of Nigerians to their wicked and exploitative policies.

“Since the APC has become so overwhelmed by governance that it now seeks for a job in our party, we counsel them to apply formally as consultants instead of seeking to distract us from our focus of giving direction to our country at this critical time”, he stated .

Dangote Emerges Most Valuable Brand for 2020 For the third consecutive year, the pan-African and fully integrated Conglomerate, Dangote Group has again emerged as the Most Valuable Brand in Nigeria for the year 2020, the outcome of the 2020 edition of the Annual Brand Evaluation, “TOP 50 BRANDS NIGERIA” has revealed.

Though, still themed Top 50 Brand, however 60 brands were evaluated as being top of the pack in commemoration of Nigeria’s Independence Diamond Jubilee as announced by the organisers earlier in the beginning of the year.

The emergence of Dangote brand as the most valuable for the third time in Nigeria is coming a year after the company was named the most admired African brand, of African continent origin, by consumers in the Continent ahead of the telecommunication giant, MTN in a survey of 100 Africa best brands which was announced in Johannesburg In a statement by Top 50 Brands, made available to journalists ahead of the formal public presentation of the brands yesterday, Taiwo Oluboyede, Chief Executive Officer said “In this special edition of the annual top brands evaluation, I am glad to inform you again that Nigerian brands have taken the shine by maintaining their leadership positions. We are particularly delighted that locally made brands don’t just top the list, they also record the majority among the top 10, with seven of the 10 brands being Nigerian.”

Commenting on Dangote’s emergence as the most valuable brand for the third year running, Prof. Ehiedu Iweriebor of the Department of Africana and Puerto Rican/Latino Studies, Hunter College, City University of New York, said: “Dangote Group as a brand leader for third year is a richly deserved honor. It is an Nigerian industrial powerhouse that making Africans proudly of their endogenous company and product.”

However, the multinationals have more entries overall, with 52 per cent, an equivalent of 31 brands out of the 60.

This achievement by Nigerian brands is significant in many ways, having 70 per cent of the top 10 being Nigerian. It shows that our locally made brands are constantly evolving and becoming more vibrant by the day.

“They have not relented in making attractive value proposition that endear the consumers to them, to the point that many consumers are now contended with Made in Nigeria, over foreign brands across many categories. This is a clear departure from recent pasts.

“This also means that many great things are still happening in Nigeria, regardless of the negative press. Our locally made brands are standing shoulder to shoulder with the multinationals in their industries and they are emerging better in valuation and perception.“, he stated.

“Before now, hardly a day passed without Zamfara making a headline of daily or multiple attacks by armed bandits, especially in the rural areas,” the commissioner said.

He disclosed that as part of efforts to sustain this peace initiative, the state government had held three townhall meetings with security agencies, vigilante groups, civilian joint task force , Myetti Allah Association and all major stakeholders with a view to

reconciling and healing the past wounds.

He said with these meetings, the Fulani people were able to go to the markets, ceremonies and any place they desired without fear of being harassed as before.

He further disclosed that government has put some machinery in place to rehabilitate and resettle repentant bandits.

According to him, the state government has provided 500 hectares of land in major Fulani

settlements where special varieties of fodder would be planted for grazing of their livestocks.

He also said schools and health facilities as well as portable water would be provided in all Fulani settlements across the state.

Abubakar further divulged that the state government has started building Ruga settlement in the three Senatoral districts with a components of schools, veterinary clinic, markets , watering points, mosque, one-bedroom and two-

bedroom housing units.

He added that money would be given to repentant bandits to start a new life He averred that since the commencement of the peace initiative, 525 kidnapped victims have been unconditionally released by their captives, with over 100 AK-47 riffles , 770 rounds of 7.62MM ammunition, 120 assorted guns, and 1, 500 rustled cattle were surrendered by bandits, and Yankassai vigilantes

DEEPENING COLLABORATION...

L-R: Imo State Governor, Senator Hope Uzodimma; former Speaker, state House of Assembly, Hon. Chiji Collins; new Speaker, Hon. Paul Emeziem; and Deputy Speaker, Hon. Amarachi Iwuanyanwu, at the Sam Mbakwe International Cargo Airport, Owerri...yesterday

Accelerated Hearing in APC’s Alleged Perjury Suit against Obaseki Commences Today Alex Enumah in Abuja Hearing in the alleged perjury suit filed against Edo State Governor, Mr. Godwin Obaseki by his former party, the All Progressives Congress (APC), is expected to commence today at a Federal High Court in Abuja.

Justice Ahmed Mohammed had on November 4, ordered for an accelerated trial of Obaseki over allegations bordering on lying on oath, presenting of false information to the Independent

National Electoral Commission (INEC), to aid his qualification for the recent governorship election in Edo State, won by Obaseki under the platform of the Peoples Democratic Party (PDP).

Obaseki who became governor of Edo State in 2016 under the platform of the APC had in the twilight of his first tenure decamped to the PDP. Although the APC had denied him the ticket for his second tenure by screening him out of the party’s primary for the

2020 governorship poll, alleging certificate forgery amongst others, his departure from the party however was believed to be due to an unresolved disagreement between him and the immediate former National Chairman of the APC, Mr. Adams Oshiomhole.

The APC and one of its stalwarts, Mr. Edobor Williams, in the suit marked FHC/B/ CS/74/2020, specifically prayed the court for an order disqualifying Obaseki from contesting the September 19 governorship

election in Edo State on the grounds that he supplied false information on oath to INEC, an act said to be contrary to Section 31(5) and (6) of the Electoral Act, 2010.

The suit, which was filed on July 14, 2020 at the Benin Division of the Federal High Court, suffered some setbacks before it was set down for hearing early this month

by Justice Mohammed of the Abuja Division of the Federal High Court.

Northern States Receive over 120 Petitions against SARS Despite Govs’ Denial of Brutality Despite opposition against the disbandment of the special antirobbery squad (SARS) by northern governors, some panels set up in the northern states have continued to receive petitions from individuals on police harassment.

Protesters had taken to streets across major cities in the country for over two weeks in October, demanding an end to police brutality and bad governance.

The federal government had directed all state governors to set up judicial panels of inquiry to receive and investigatecomplaintsonpolicebrutality

or related extrajudicial killings — with a six months’ time frame.

But 19northerngovernors led by the Plateau State Governor and Chairman of the Northern Governors Forum, Hon. Simon Lalong, had kicked against the disbandment of the police unit, saying it has been useful in the fight against insecurity in the region.

However, The Cable reported that over 120 petitions have been submitted to various panels set up in some of the northern states.

In Katsina, the Chairman of the judicial panel, Abbas Bawale,

yesterday told journalists that 61 petitions have been received from various individuals ahead of the public hearing which would commence on November 23, 2020.

Also, Registrar of the Plateau State panel, Mark Mallan, disclosed that as of November 13, petitions received by the panel had reached 30.

The Taraba State panel has received 11 petitions, 16 have been submitted in Nasarawa, while Kwara has 10.

Kaduna State Judicial Panel

Secretary, Hajaratu Mohammed, also confirmed to TheCable that the state has received several petitions from indigenes.

Mohammed said although three petitions were submitted directly to her office, the total number of petitions received cannot be ascertained as the panel is yet to have its inaugural sitting. She confirmed that some petitions have been received by the National Human Rights Commission (NHRC) in the state and some other offices at the local government level.

Tetfund: Why We are Setting up Publishing Centres in Six Zones The Tertiary Education Trust Fund (Tetfund) has disclosed that it embarked on the establishment of an Academic Publishing Centres in each of the six geopolitical zones of the country to effectively address the challenge of scarcity of indigenously authored and produced tertiary level books and related academic publications in Nigeria’s tertiary educational institutions.

The agency also said it had invested the sum of N5 billion in

the project in line with its mandate and desires to improve teaching, learning and research.

These were made known by the Chairman, Tetfund Board of Trustees (BoT), Mr. Kashim Ibrahim-Imam, during the meeting between the agency and managements of public universities, polytechnics and colleges of education in the North East zone held at the Modibbo Adama University of Technology (MAUTECH), Yola, to

deliberate on successful take-off of the North East’s regional Academic Publishing Centre domiciled in the University.

Ibrahim-Imam informed the heads of public tertiary educational institutions, who converged on MAUTECH from Adamawa, Taraba, Bauchi, Gombe, Yobe, and Borno states that the printing machines would be supplied in a couple of weeks for the imminent take-off of the North East centre.

He stressed that Tetfund’s

commitment to collaborative approach to interventions, hence the crucial meeting with the beneficiary institutions to deliberate on the best ways to operate, manage, and sustain the Centre.

On his part, the Executive Secretary of TETFund, Prof.

Suleiman Bogoro, emphasised the need to boost local capacity in the production of tertiary level textbooks and related academic publications in the country.

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Bandits Invade Nuhu Bamali Polytechnic, Abduct Three John Shiklam in Kaduna Two children and a staff of the Nuhu Bamali Polytechnic, Zaria, Kaduna State, have been abducted

by gunmen.

Another staff of the school, whose name was given as Sunusi Hassan, narrowly escaped being abducted, bur was shot in the

Edo Residents Resort to Self Help as Crime Rate Surges Adibe Emenyonu in Benin-city Following the upsurge in crimes due to the inability of policemen to resume at their duty posts resulting from the attacks on them during the #EndSARS protest, some residents of Edo State have constituted themselves into security guards to secure their lives and property, THISDAY investigation has revealed.

For instance, some young people in Amagba community and environ in the state have formed guard around the areas screening all vehicles going in and out of the area.

One of the youths, who spoke to THISDAY, said: “We will not wait for the miscreants and hoodlums who had made Upper Sokponba and other affected areas in Benin-city inhabitable to bring their lawlessness into our community.”

According to them, “We have resolved to join our vigilante group to patrol, check, and monitor the security situation in our community, and we will make sure that Amagba is safe for all.”

Meanwhile, the supposed miscreants have not found things

easy as they have been mete out with instant justice while trying to make life difficult for the people.

So two suspected thieves caught last weekend along Sokponba Road were given jungle justice as they were killed and burnt instantly.

Another was caught by Omoruyi Street off Sapele Road, and was beaten to a pulp and left to his fate.

Similarly, at Second East Circular area of the ancient city, a young man who was caught with a locally made cut-to-size pistol had his legs mangled, preparatory to being set ablaze.

In a one minute and 58 seconds video clip of the incident shared on various social media platforms late last Saturday evening, the young man was seen with his hands tied to the back to demobilise him.

While he was being held by one of the mobs, another was seen emerging with a club. He was later clubbed to death.

When contacted, the state Commissioner of Police, Babatunde Johnson Kokumo, said the attack on police facilities and burning of police stations and patrol vehicles during the #EndSARS protests have affected their operations.

16-year-old Girl Commits Suicide in Kano Ibrahim Shuaibu in Kano A 16-year-old girl, Bahijja Gombe, allegedly committed suicide last Saturday night in Kano, Kano State.

She was working as a housemaid with a family at Zoo Road housing estate in Kano municipal local government area.

Bahijja was responsible for housework and attendance to customers at her master shop.

The corpse of the girl was found hanging in a room last Saturday night at the estate, and

no suicide note left as she was not admitted into Islamic or Western education school.

The Spokesman of the Police in Kano, Haruna Abdullahi Kiyawa confirmed the incident.

Abdullahi, a Deputy Superintendent of Police (DSP), said Bahijja’s corpse has been deposited at the Murtala Muhammad Hospital.

He explained that investigation has commenced into the actual reasons behind the death of Bahijja, an indigene of Gombe State.

Ezekiel Izuogu for Burial The burial programme for the late Dr. Ezekiel Izuogu has been released.

A statement signed by his eldest son, Dr. Ginikachukwu Izuogu, indicated that his rites of passage started on Thursday, November 12, 2020, with a service of song at the church of Advent Anglican Communion, Life Camp, Gwarinpa, Abuja.

The statement also showed that there will be another service of songs in his honour on November 24, 2020 at CATOL, Owerri, Imo State.

According to Ginikachukwu, on November 26, the burial train would move to his father’s country home at Umuoghuru, Umuopia, Akokwa, in Ideato North Local Government Area of Imo State where a service of song would also be held.

He added that interment would follow on November 27 at 10 a.m. in his compound.

Aged 70, Dr. Izuogu is

hand by the bandits, and was later taken to the Ahmadu Bello University Teaching Hospital (ABUTH), Shika, Zaria.

It was learnt that the incident happened last Saturday at 9p.m. when the hoodlums invaded the staff quarters of the main campus of the institution, owned by the Kaduna State Government.

The incident is coming on the heel of students’ resumption after a long break as a result of the COVID-19 lockdown.

The Rector of the Polytechnic, Mr. Kabir Abdullahi, confirmed the incident, saying the bandits gained entrance into the school

premises at about 9p.m. last Saturday.

He said a staff and two children were abducted while another staff was shot by the hoodlums.

“I was in Kaduna when the Chief Security Officer of the college called to inform me about the attack.

“It is true that the bandits have kidnapped one of my staff members, Bello Atiku, who is the Head of Department, Computer Engineering in the school.

“He was also kidnapped along with two children to an unknown destination,” the rector said.

He added that one of the staff

members, Sunusi Hassan, who escaped being kidnapped, was shot in the hand by the bandits and was taken to the hospital.

The rector attributed the incident to the porous nature of the school which, according to him, exposed the polytechnic community to unforeseen danger.

He said despite the vast land and the forest, the school was still unfenced, thereby making it prone to danger, appealing to the polytechnic community to remain calm as security operatives are on top of the situation.

The spokesman of the state police command, Mohammed

Jalige, did not respond to telephone calls and a text message sent to his mobile phone on the issue.

The rampant case of kidnappings in Kaduna State is a sources of serious worry among residents.

Despite efforts by security agencies to contain the situation, the hoodlums have continued to wreak havoc on residents.

Many people, especially, in some suburbs within Kaduna metropolis, have abandoned their homes “to safer locations,” due to persistent invasions and abductions by bandits.

TWENTY-FIVE HEARTY CHEERS...

L-R: Special Adviser to Enugu State Governor on Financial Matters, Mr. Paschal Okolie; his wife, Stella; and Catholic Bishop of Enugu Diocese, Most Rev. Dr. Callistus Onaga, during their the couple’s 25th wedding anniversary thanksgiving mass at Christ the King Parish G.R.A., Enugu ... yesterday

One Suspected Cultist Feared Killed in Ilorin Hammed Shittu in Ilorin One suspected cultist popularly known as ‘Tiny’ was last Saturday allegedly shot dead in Ilorin in a gun duel with some police officers for allegedly terrorising his neighbours with gun.

However, Hon Abdulganiyu Abdulquadri, media aide of the former Senate President, Dr. Bukola Saraki, was quick to distance the incident from the programme of eighth year memorial prayer for

late Dr. Abubakar Olusola Saraki, which successfully took place some meters away last Saturday.

Abdulquadri in a statement issued in Ilorin yesterday said “Among others, the incident has nothing to do with the prayers.

To avoid any misrepresentation of facts, we urge all journalists interested in publishing the facts to seek clarifications from the police and other security agencies as investigation into the matter is said to have commenced.”

THISDAY checks revealed that the incident coincidentally occurred at a spacious mechanic shop around Commissioner way in GRA, Ilorin, which was a stone throw to Iloffa residence of the Sarakis where the prayers for eighth year remembrance of late Saraki was taking place.

The suspected cultist, apparently tipsy, who came to drink in one of the ‘joints’ in the area, was said to be shooting a pump action rifle into the air, causing panic

in the area.

The onlookers reportedly cautioned him but he was unperturbed, saying that he was testing his newly bought rifle, which he described as ‘one-in-town’.

It was, however, learnt that the fear that the deadly attitude might wreak havoc on the people in the area prompted some few police officers, who were watching the incident some meters away, to rescue the situation.

Anambra PDP Vows to Take over Govt House in 2021 David-Chyddy Eleke in Awka The Anambra State Chapter of the Peoples Democratic Party (PDP) has vowed to go into the 2021 governorship contest in the state as a united body.

The leaders and governorship aspirants of the party made this declaration in Awka during the weekend at a reception held in honour of the State Chairman of PDP, Mr. Ndubuisi Nwobu.

The party acknowledged that only unity would guarantee

its victory in the forthcoming governorship election and expressed happiness about the attendance to the reception, which attracted many prominent members of the party and their supporters.

Nwobu attributed his as the chairman of the party to the support given to him by the leaders of the party.

He said: “I have received tremendous support from our leaders. This reception will spur me to put in the best, but the

biggest honour will be when we get the governorship seat of this state, and it is achievable if we all work together.

“I promise you that the process of the emergence of the party’s candidate shall be free and fair, and I urge you all to support anyone that emerges as our flag bearer.

Our journey to the Government House starts now and from here.”

Meanwhile, the member representing Nnewi North, Nnewi South and Ekwusigo Federal Constituency in the House

of Representatives, Hon. Chris Azubogu, has declared himself the most prepared among all the aspirants jostling for the ticket of the PDP for the state governorship election.

Azubogu, in a meeting he held with some journalists, said: “In the last 10 years, I have held very critical government positions, and in the last 15 years, I have been involved in proffering solution to governance in this state (Anambra) and Nigeria.

FG to Realise N434bn from Sale of Omotosho Power Plant,Two Others Deji Elumoye in Abuja

Ezekiel Izuogu survived by his wife, Lady Ngozi Izuogu, five children and seven grandchildren.

The deceased was a pathfinder and trailblazer whose scientific ingenuity via the invention in 1997 of Nigeria’s first indigenous car, Z600, brought the country and Ndigbo global recognition.

The federal government’s plan in 2021 to sell the three power plants in Geregu, Omotosho and Calabar will rake in N434 billion into the Federation Account.

Also, the concessioning of Moshood Abiola stadium in Abuja and three other stadia by the federal government next year is put at N100 million.

These were the highlights of the breakdown of the document

presented by the Bureau of Public Enterprises (BPE) during its budget defence before the Senate Committee on Privatisation and Commercialisation.

According to the breakdown, Geregu power plant is billed to be sold for N140.7 billion; Omotosho Power Plant will be sold for N151.4 billion while Calabar plant will be available for sale for N143.4 billion.

The proceeds from the sale of the three power plants, the

document stated, would be paid into the coffers of Niger Delta Power Holding Company (NDPHC).

The document further revealed that concessionaires in 2021 would pay the total sum of N836 million for National Arts Theatre and Tafawa Balewa Square both in Lagos, and all the River Basin Development Authorities across the country.

Further breakdown showed that while the National Arts

Theatre would be concessioned for N200 million, Tafawa Balewa Square will go for N436 million while all the River Basin Development Authorities will be concessioned for N200 million.

Also to be concessioned are the National Stadium, Lagos; Moshood Abiola Stadium, Abuja; Jos International Stadium, Jos, and Adokie Amiesiemaka stadium in Port Harcourt for N100 million.

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9,694 Constables Set for Community Policing Ejiofor Alike The Ministry of Police Affairs yesterday disclosed that a total of 9,694 special constables were set to graduate from 14 training schools across the country.

The Minister of Police Affairs, Mr. Muhammad Dingyadi disclosed this on Friday at the passing-out parade for pioneer special constables from Zamfara State at the Police College, Kaduna.

Dingyadi, said the personnel would soon be deployed to bring

policing closer to the people, adding that the operatives have been trained in basic police duties, rule of law, police-community relations, intelligence gathering, neighbourhood policing, human rights, and the consequence of abuse of office in a democratic setting.

According to him, they are awaiting deployment to their various communities.

These were contained in a statement issued yesterday by the spokesman, Ministry of Police

Affairs, Mr. Seyi Odutayo, titled, ‘9,694 special constabularies to be dispatched to communities’.

“A total number of 9,694 special constabularies are graduating in 13 other different training centres across the country simultaneously who have been trained in basic police duties, rule of law, policecommunity relations, intelligence gathering, neighbourhood policing, human rights and the consequence of abuse of office in a democratic setting, are awaiting deployment to their various communities to

bring police activities closer to the people.

“What we are witnessing today forms the nucleus of community policing initiative and the reform agenda of Mr President,” the minister was quoted as saying.

While justifying the establishment of his ministry, the statement quoted Dingyadi as describing the community policing as one of the “dynamic innovations aimed at bringing policing closer to the people through their participation

to effectively curb crime and criminality.”

He said further that the knowledge the constables had acquired on the need for respect of human rights in a democratic setting would be of immense benefits in the discharge of their duties to forestall infractions, which led to the #EndSARS protests in the country.

Dingyadi appreciated the efforts of the Inspector-General of Police and his management team, state governors, local government

chairmen, community leaders, and other stakeholders who worked collectively to implement the initiative.

The Commandant, Police College Kaduna, CP Abdulkarim Dauda described the ceremony as historic and implored the constables to operate professionally, courageously and to be above board in the discharge of their responsibilities while shunning all forms of corruption and its tendencies.

Listen to the Youth, CAN President Tells FG James Sowole in Akure The President of the Christian Association of Nigeria (CAN), Rev. Samson Ayokunle, at the weekend advised the federal government not to trivialise the voice of youths but as a matter of urgency, listen to their cries.

Ayokunle, stated this during the consecration ceremony of the President of the United Apostolic Church of Christ (UACC) Worldwide, Rev. James Bayo Owoyemi, in Akure, the Ondo State capital.

The cleric, who appealed to youths not to despair, said that the federal government should know that the youths are formidable and should be catered for.

According to him, the youth of the country have woken up to show to our leaders that they are not an appendage to society.

He said: “I want the government not to trivialise the voice of the youth but to make concrete plans for them in the developmental programme of the country, especially in creating an enabling environment for employment for the youths.

“With the way they have spoken, I also want to advise

the youth to be patient because Rome was not built in a day.

They also need to allow the government the space to rejig things and make plans for them.”

Ayokunle also encouraged Nigerians to be steadfast in their prayers for a better country.

He said: “If any year is good we need to praise God and if otherwise, we need to talk to God the more on the need to make the year better for us.

“The situation of the country has shown to us that power belongs to God and not to us. Any good we received is not because we merit it. It is because of his grace. We need to be humble in our dealings with the Almighty. Appreciate him for the little we have so that he can open the doors for the plenty.”

Earlier, the newly consecrated president, Rev. Owoyemi, appealed to the government to prioritise the welfare of the youths of the country.

He said: “The youths of the country have spoken. Let the government listen and rise to its responsibility. What we are expecting after the protest is a positive change in the country.”

Nigerian Institute of Chartered Arbitrators Holds Virtual Annual Conference The Nigerian Institute of Chartered Arbitrators (NICArb) has concluded arrangements to host its 2020 virtual annual conference and investiture, scheduled to begin on November 18, 2020.

Speaking with journalists in Lagos, the Registrar/Chief Executive Officer of the Institute, Mrs. Shola Oshodi-John, disclosed that this year’s conference would be held virtually in compliance with COVID-19 protocols.

She also said that the 2020 Annual Conference and Investiture will be held online with technical partnership from the Arbitration Place, Canada and support from several international organisations like ArbitralWomen, Association for the Promotion of Arbitration in Africa (APAA), Organisation for the Harmonisation of Business Law in Africa (OHADA), Institute of Transnational Arbitration (ITA), the United Nations Commission on International Trade Law (UNCITRAL), and others.

The Theme of the three-day

conference, which will hold from Wednesday, November 18 – Friday, November 20, 2020, is: ‘Making Arbitration (and ARD) Work for Africa.’

In the course of the three-day programme, several papers will be delivered by prominent individuals in various fields and from around the world.

Participants at the event will be welcomed by the President, and Chairman of Nigerian Institute of Chartered Arbitrators, Chief Afe Babalola (SAN).

President Court of Appeal, Justice Monica Dongban- Mensem, is also expected to be the guest of honour on the opening day.

Two keynote addresses are scheduled for the first day of the conference. The first address, ‘Making Arbitration Work for Africa: Rethinking investment Treaties and Sustainable Development for Africa,’ will be taken by George Kahale III, Chairman, Curtis Mallet-Prevost, Cotts and Mosel LLP, Washington DC, USA.

LET ROADS BE SAFE...

L-R: Deputy Corps Commander, FRSC, Oyo State, Mary Adefope; Sector Commander, Oyo State Sector Command, Mrs. Uche Chukwurah; and her husband, Mr. Frank Chukwurah, during thanksgiving service to the mark 2020 World Day of Remembrance for Road Traffic Victims in Ibadan ...yesterday

Disunity Bane of Yoruba Race, SaysYWA Scribe Kemi Olaitan in Ibadan The Chief Convener and SecretaryGeneral of the Yoruba World Assembly (YWA), Mr. Victor Taiwo, has lamented that the age-long disunity among Yoruba groups has led to the prolonged separation of people within the tribe.

Taiwo also stated that the birth of the YWA was a reaction to the failure of previous attempts at the emancipation and security of Yoruba land.

He lamented, during the maiden press conference announcing the

birth of the YWA last weekend at the NUJ Press Cente, Iyaganku, Ibadan, that disunity has made it hard for the Yoruba race to speak with one voice.

He also insisted that the purpose of floating the group was to bring all Yoruba groups to the project of Yoruba nation, ensure the unity of Yoruba worldwide, enhance peace and security in Yoruba land and to resist any attempt of domination or assault from any imposing ethnic group in the country.

According to him, “Nigeria is witnessing a lot of challenges to the security of lives and

properties, so, there is a need for the convergence of all progressive and good-intentioned groups for united and central coordination under a credible leadership.”

He disclosed that the Board of Trustee (BoT) of the group is made up of leaders drawn from each of the 17 sub-ethnic groups in Yoruba land.

Taiwo added that the governing council of the group include the Chairman, Mr. Taye Ayorinde; Director of Media and Publicity and Public Relations, Mr. Kemi Olaitan and Director, Finance,

Treasury and Accounting, Mr. Bolarinwa Babayomi.

He said the governing council would be inaugurated within five days and any group that is willing to join the group should belong to an organisation.

The Interim Chairman of the YWA and the Baale of Ekotedo, Mr. Ayorinde, in his remarks described Yoruba land as one of the bravest and most intelligent race in the world but for lack of coordination, adding that Yoruba sons and daughters both at home and in the Diaspora are looking for someone to liberate them.

Ooni Charges Govt to PacifyYouths with Employment Plans financial autonomy for 5,000 youths The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II has called on government at all levels to create employment opportunities to pacify angry and hungry Nigerian youths to curb uprising.

The monarch while speaking at the commencement of his fifth year anniversary, said he has concluded plans to empower 5,000 youths and ensurethattheyfinanciallyindependent.

A statement issued yesterday by his spokesperson, Mr. Moses Olafare yesterday, stated that the monarch stressed the need to continuously

pacify the teeming youth populace in the country by creating meaningful employment opportunities for them.

The monarch who supervised the certification of the second sets of graduate of the Ojaja II Fashion Training Institute, said his objective was to ensure that the graduates becomes employers of labour rather than searching for unavailable jobs, stressing that every tier of goverment should supports them in form of training, mentorship and other empowerment initiatives.

“The youths are angry because

they are hungry and the way to get them out of this anger is to continue to empower them. In line with the celebration of my 5th years on throne, I’ve mapped out plans to empower five thousand youths to be financially independent and to feed others.

“I hereby call on Nigerian leaders either in politics, traditional or religious to know that it is now a necessity to empower the youths. Out of our earnings, let us dedicate part to the empowerment of youths in our areas, wemustconsiderthisasanecessityand what should be done on a regular basis.

“We have just have a sample of youth restiveness and it should be a lesson to all of us that nobody can handle their anger, so it is about time we know that it is stupidity to keep monies in the bank while the needy continue to wallow in abject poverty. On the need to assign constitutional roles to traditional rulers, Ooni Ogunwusi explained that such would hasten Nigeria’s journey to prosperity, as traditional rulers remain the closest to the people.

Nasarawa Suspends LG Directors over Non-payment of Workers’ Salaries Igbawase Ukumba The Nasarawa State Government has directed the Local Government Service Commission to suspend all Directors of Personnel Management (DPMs) and Directors of Finance and Supplies (DFS) in the 13 local government areas and 18 development areas for three months over the non-payment of workers’ salaries.

The suspension order was issued to the top council officials to enable the state auditor general to pay salaries owed to local governments’ staff for three months.

The Public Relations Officer of the Ministry for Local Government and Chieftaincy Affairs, Mr. Ibrahim Adamu Shigafarta, disclosed the development yesterday to journalists in Lafia, the state capital.

Shigafarta said the council

officials were suspended because they refused to work with the directive of a committee set up by the state government to investigate the discrepancies and high wage bills incurred by local governments in the state.

He said that the staff of local governments were audited over some abnormalities that constrained the state government to decide to use April 2012 payment vouchers

to get to the roots of the fraud.

Acccording to him, “local government salaries as of 2012 was N1.1 billion monthly. But now that there were no employment, promotions, some people died, some retired, while others left for greener pastures, the local government salaries wage bill skyrocketed from nowhere to N1.3 billion per month.

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Lagos Police Raid Black Spots, Arrest 720 Suspects Recover arms, drugs, looted items Operatives of the Lagos State Police Command have arrested a total of 720 suspects across the state.

The suspects were arrested during simultaneous raiding of black spots within the state on Sunday, 15th November 2020.

It was gathered that the arrest was carried out to solidify the security architecture of state, as the state Police Command relaunched

House Summons Kyari, Emefiele over Non-remittance of N3tn Revenue Udora OrizuinAbuja The House of Representatives has summoned the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, and Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele over alleged non-remittance of N3.235 trillion ($19.253 billion) revenue accrued from sales of domestic crude oil in 2014.

The Chairman, House Committee on Public Accounts, Hon. Wole Oke, issued the directive during the investigative hearing into the audit queries issued by the office of the Auditor General of the Federation (oAuGF) for the period under review.

This is coming barely 10 days after Kyari refused to honour the invitation sent to him penultimate week on the illegal withdrawals of $20.301 billion from the Nigerian Liquefied Natural Gas (NLNG) dividends account.

According to the details of the query, oAuGF observed that from the “examination of NNPC mandates to CBN on Domestic

Crude Oil Sales and Reconciliation Statement of Technical Committee of Federation Account Allocation Committee (FAAC) meeting held in January 2014, that a total sum of N3,234,577,666,791.35 was not remitted to the Federation Account by NNPC within the period under review.”

The oAuGF findings further showed that, the “cost estimated for crude oil and product losses was N55,964,682,158.99 which is about 50 percent of pipeline management cost of N110,402,541,010.88; names of contractors, location and amount paid to each for the pipeline maintenance were not sighted for audit verification.

“Over 31 percent\ (N826,506,271,231.26 divided

by N2,636,390,514,777.18 and multiply by 100 percent) of the realised crude oil sales for the year were earmarked as other expenses apart from the direct cost of productions stated in NNPC reports for the year 2014. The breakdown of other expenses

was not provided for audit.

While requesting the Accountant General of the Federation (AGF) to inform the NNPC group managing director to explain the flagrant attitude of withholding domestic crude oil sales revenue by NNPC, which should be refunded immediately, the oAuGF observed that there was no positive response on similar issue raised in 2012.

Therefore, the OAuGF asked the NNPC GMD to “provide names of the contractors, location, and amount paid to each for the pipeline maintenance for verification. The process being used by PPPRA for the repayment of subsidy to the oil marketers should be used for NNPC instead of the latter deducting the subsidy at source; and should stop the deduction at source by NNPC, as this is a contravention of Section 162(1) of the 1999 Constitution which stipulates that ‘all revenue proceeds should be paid to the Federation Account.”

its anti-crime strategies to curb crimes and criminality across the state.

In the swift operations, police operatives of the command arrested 720 suspects with incriminating items, including locally-made guns and life cartridges, charms, weed suspected to be Indian hemp, substances suspected to be cocaine and some items suspected to have been looted from various shopping outlets within the state during the recent Endsars violence.

According to the spokesperson of the Lagos state police command, SP Olumuyiwa

Adejobi, “on Sunday, November 15, 2020, at about 7 a.m., operatives attached to the command carried out raids simultaneously on identified black spots, reasonably believed to be harbouring criminals and hoodlums, across the 14 Area Commands in Lagos State”.

Adejobi noted that the Commissioner of Police, CP Hakeem Odumosu, who matched his words with actions, had earlier warned and directed police officers and men to move against lawlessness and criminality in Lagos.

Adejobi noted that the CP has affirmed the zeal of the command

to sustain the operations, even, beyond the yuletide season.

Odumosu has however directed the Deputy Commissioner of Police in charge of SCID, Panti, to commence discreet investigation on the arrested suspects for immediate prosecution.

He also urged those whose items were looted during the recent Endsars violence to come up for claims of their items with proof of ownership.

The police chief commended the officers and men of the command for the successful operations, while he charged them to be at alert for more operations across the state.

PDP Hails Fayose at 60 Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday congratulated the former Governor of Ekiti State, Chief Ayodele Fayose, as he attains the landmark age of 60 years.

According to a statement issued yesterday by the National Publicity Secretary of the party, Kola Ologbondiyan, “Indeed, our party celebrates Fayose, who, over the years, has demonstrated an uncommon commitment and zeal towards the unity, stability and development of our dear

country, Nigeria, as well as in the fight for the rights, liberty and welfare of the common man, in line with the manifesto and ideals of our great party.

“Unarguably, Fayose is a fearless and very forthright leader whose outspokenness for justice, equality and fairness, particularly for the downtrodden, clearly demonstrates his belief in putting the good and welfare of others above personal interests; the very reason he is so loved across our country.”

PDP said Fayose’s sense of duty, particularly during his

tenure as a governor, “where his exceptional transparency, accessibility, humility in service and love for his people propelled him to deliver an unprecedented development of Ekiti State in all sectors of life, during which the state experienced its best and most productive years.”

The PDP family, he said, therefore, “celebrates this rare patriot and prays to God to grant him many more years ahead to continue in his statesmanship and selfless service to Nigeria and humanity at large.”

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MONDAY NOVEMBER 16, 2020 ˾ T H I S D AY

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PDP: No Official Request from South-east for 2023 Presidential Ticket Main opposition party broke, says APC

Chuks Okocha and Adedayo Akinwale in Abuja The Chairman of the Peoples Democratic Party (PDP) Board of Trustee (BoT), Senator Walid Jubrin, yesterday said there was

no official request from the PDP in the South-east region for the presidential ticket of the party.

Though he said the zoning of offices within the party is a procedural issue, he stated that “if the South-east caucus of the

Lagos Zonal ASUU Tackles Ngige over N110bn Revitalisation Fund The Academic Staff Union of Universities (ASUU), Lagos zone, has tackled the Minister of Labour and Employment, Dr. Chris Ngige, over the claim that the Federal Government cannot afford the conservative N110 billion for the revitalisation of universities.

The union in a statement issued yesterday by Lagos Zonal Coordinator, Prof. Olusiji Sowande, urged parents, students, and the general public not to be persuaded by the statement made by Ngige.

The union faulted the federal government for paying bailout funds to the private sector and failing to pay the revitalisation fund for the universities.

The union zonal coordinator was reacting to the recent comment made by Ngige on a live TV programme.

Sowande said, “The statement is laced with the hidden fact that the MoL&E (Minister of Labour and Employment) and his team have no intention of ending the ongoing strike this year.

“The Nigerian public should be appalled that government team, after having a series of meetings with our Union, is just collating pertinent data required to engage

our Union.

“Consequently, the government has deliberately been wasting the time and resources of our Union on meetings and engagements it was not prepared for.

“It is therefore not surprising that Dr. Chris Ngige-led government team has not been able to return to negotiating table since the last engagement with our Union on November 4, 2020.”

On the claim that the federal government cannot afford the revatilisation fund, the union lamented that “only recently, government-approved N5 billion bailout fund to operators in the aviation sector to ameliorate the harsh realities of COVID-19 on their business operations.”

It also raised the concern that over the years, the Nigerian government has spent over N1.5 trillion to bail out power generation and distribution companies to keep their business afloat despite privatisation of the power sector.

“If the government could bailout private businesses for ‘Business Good’ then Nigerian public Universities deserved to be bailed out for ‘Public Good’,” he added.

Abiru: I Support Justice for Victims of Lekki Incidents The candidate of the All Progressives Congress (APC) for senatorial by-election in Lagos East, Mr. Tokunbo Abiru has thrown his weight behind the decision of governments to investigate attacks on #EndSARS protesters at the Lekki Tollgate and demanded justice for the victims.

Abiru, a former Executive Director in First Bank Plc and immediate past Chief Executive Officer of Polaris Bank Limited, has also assured youths that the agenda presented during the #EndSARS protest would be a major part of his legislative priorities.

He expressed support for the victims of Lekki incidents in a statement he issued yesterday to the youths of Lagos East, noting that the #EndSARS protesters remained peaceful and responsible throughout their protests.

In his statement titled “A Message to Lagos East Youths,” Abiru said it was sad that forces other than the peaceful #EndSARS protesters turned a potential moment of hope, inspiration and transformation into a tragedy.

He added that the peaceful protests were undercut by “seemingly orchestrated sporadic attacks” on demonstrators in

the state and across the country, followed by “the tragic events at the Lekki tollgate on October 20.”

Abiru, an accomplished economist and chartered accountant, observed that it “is not yet fully clear the precise events of that evening or the source of orders, if any, received by the security agencies at the location.

“I support state and federal investigations to establish the sequence of events and establish culpability and accountability for all actions, as well as justice for all victims and their families, with the active participation of civil society.

“In the aftermath, we experienced another tragedy as Lagos witnessed an unprecedented orgy of violence including looting of stores and supermarkets; severe damage to government and private property including several businesses; and the desecration of our culture and traditions by persons who invaded the palaces of the Oba of Lagos, Oba Rilwan Akiolu; and the Onitedo of Iwerekun, Oba T.A. Elemoro.”

He, therefore, commiserated with the Governor of Lagos State, Mr. Babajide SanwoOlu, and the good people of Lagos on this unfortunate incident and pray that such will never again be seen in Lagos.

PDP asked that the presidential ticket be zoned to it, I don’t see anyone or opposing it or denying the zone such request.”

Meanwhile, the All Progressives Congress (APC), has expressed shock that the PDP can no longer pay entitlements of its national secretariat staff as at when due, despite billions of naira generated from the sales of nomination forms during the 2019 general election and the recent Edo and Ondo States governorship elections.

The chairman of the PDP BoT told THISDAY that apart from the National Executive Committee (NEC) meeting slated for next Thursday, the national caucus and the BoT meetings will take place on Wednesday.

Speaking further on the scramble for the presidential ticket of the party, he said: “Our preoccupation with the PDP now is to ensure the unity of the party because if there is no unity within the party, nobody will talk of the

presidential ticket. There must be unity first. You don’t count the chicken before the eggs are hatched. Unity of the PDP is the main thing now.”

However, Jibrin said the party would not pretend not to be unaware of the agitation of the party in the Southeast that the presidential ticket be zoned to it in 2023.

According to him, “What we have heard is merely side talks. There is no official

request from the South-east zone that the office of the presidential candidate should come from the zone. What we are reading is just newspaper report.

“If they ask, who will deny them the request? I envy them.

The South-east has remained a strong ally of the PDP right from inception. But what I’m saying now is that it is too immature to ask for it now.

This is not the time.”

COURTESY VISIT…

L-R: Press Secretary, Salman Shagaya Foundation (SSF), Mr. Ibraheem Abdullateef; Director General, Mr. Muftau Akanbi-Oke; Chairman, Mr. Sheriff Shagaya; Kwara State Governor, Mr. AbdulRahman AbdulRazaq; and chieftain of All Progressives Congress (APC), Mr. Lateef Babakini, during a courtesy visit by a delegation from the SSF to Government House, Ilorin…yesterday

Female Protesters Gave Me Courage to Join EndSARS Campaign, Says Davido Pop artiste, Davido, has disclosed that the female #EndSARS protesters gave him the courage to join the campaign against police brutality.

Speaking on Apple Radio’s Africa Now with DJ Cuppy, the award-winning singer added that when he got to the protest ground, the protesters were angry at him for joining them late.

“I got my courage from all the other youths that went out

there before me. They had been protesting for days before I even went there. I would say those people gave me a lot of courage especially the females, the women that were there protesting.

“When I first got there they were attacking me and people were even angry at me that why am I just coming? Where have I been? I could see the pain on the faces of Nigerians. Especially with the background that I am from, I

felt it would be very insensitive for me not to lend my voice. The next day, I went to see the Inspector General of Police and it was not really productive if you ask me.

What I mean by productive is the fact that they did not act on our demands.”

He also commented on his viral picture where he was seen sitting on the ground with other protesters with his hands raised in the air, explaining that it was his way of

signalling that he came in peace.

“In the picture of me that circulated around social media where I was sitting on the floor with my hands in the air, all I was trying to do was to inform them that I come in peace. I watch a lot of news and protests that are staged all over the world and that is what I see them do. That is why I asked everyone to sit on the floor. It was amazing to be part of that.

Anambra Declares Monday Public Holiday in Honour of Azikiwe David-Chyddy Eleke in Awka Anambra State Government has declared Monday, November 16, 2020, a work-free day in honour of Nigeria’s first President, Dr. Nnamdi Azikiwe, who was born on November 16, 1904.

A statement issued by the state Commissioner for Information and Public Enlightenment, Mr. C. Don Adinuba, noted that all government offices, except those

which provide essential services, will not open for business, just like the organised private sector and open markets in the state.

This would be the second time Anambra State will observe a public holiday in honour of Azikiwe’s posthumous birthday.

The state Governor, Chief Willie Obiano, had also written to President Muhammadu Buhari, urging him to make the holiday a nationwide affair.

Adinuba quoted Obiano in his statement on a recent letter Buhari, saying: “The failure thus far to declare the birthday of the Great Zik of Africa a national holiday has become not just a national but also an international scandal.

“The Ghanaians observe President Kwame Nkrumah’s birthday as a national holiday.

Angolans observe Dr. Agostino Neto’s birthday as a national holiday, just the way Tanzanians

celebrate the birthday of Mwalimu Julius Nyerere.

“Interestingly enough, it was the Great Zik of Africa who mentored Nkrumah, whom he discovered when he was editing the African Morning Post in Ghana and sent him to his alma mater in the United States, Lincoln University, the first historically black university in America, to study humanities just like him (Azikiwe).

Airport not Priority Project, Abia Royal Fathers Tell Ikpeazu Emanuel Ugwu in Umahia Traditional rulers in Abia State have asked the state Governor, Dr. Okezie Ikpeazu, to drop the idea of building an airport for the state, saying it (the airport project) should not be accorded priority in the scale of infrastructural needs of the state.

The monarch gave the advice at the weekend through the

Chairman of state Council of Traditional Rulers, Eze Joseph Nwabekee, when the governor received in audience the principal officers of the council and the chairmen of the traditional rulers’ council from all the 17 local government areas.

“Abia State started tinkering with the idea of building its own airport during the second tenure of Chief Theodore Orji, now a

senator. A committee set up for the project recommended its viability, and a mass of land spanning three local government areas was acquired for the project,” it was learnt.

Ikpeazu, who inherited the airport project from his predecessor, has promised to see to the completion of the project before leaving office in 2023.

It was learnt that though the governor did not immediately grant the request of the royal fathers, it appeared the airport project may not materialise in the life time of this administration.

The governor promised the royal fathers that he would have to consult the state executive council before deciding if or not the airport project should be jettisoned.

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MONDAY NOVEMBER 16, 2020 ˾ T H I S D AY

24 HOURS...

24 HOURS...

Police Nab 14 Suspected Bandits, Recover 228 Cows in Katsina Francis Sardauna in Katsina The Katsina State Police Command yesterday said it apprehended 14 suspected bandits and

recovered 228 cows and 267 sheep in Tsaunin-Bala and DankarDangayya villages of Danmusa and Batsari Local Government Areas of the state.

COVID-19: Rape Cases Rise By 149%, Says ActionAid Michael Olugbode in Abuja ActionAid Nigeria has lamented that rape cases in the country have increased by 149 per cent.

The increase in cases was attributed to the lockdowns as a result of the COVID-19 pandemic.

A statement issued at the weekend by the Board of Trustees (BoT) of ActionAid Nigeria, after a virtual meeting to review of the state of the nation last Saturday, stated that: “Since the COVID-19 lockdown, a wave of rape and other forms of Sexual Gender-Based Violence (SGBV) have increased. Since the commencement of lockdowns, reported cases of gender-based violence have substantially risen with a monthly increase of 149 percent in 23 out of the 36 states in Nigeria, where we could obtain data on SGBV.” It lamented that: “Despite this, till date, only 17 out of 36

states and the FCT have passed the Violence Against Persons Prohibition Act in Nigeria.”

The organisation also decried that the recent hike in electricity was unfortunate and ill-timed.

The statement read: “The hike in electricity tariffs by almost 100 percent as well as the fuel price increase, coming amid the COVID-19 pandemic, is not only ill-timed, but it is also counterproductive. The privatisation of the electricity sub-sector seven years down the line has not yielded the anticipated positive results.

“This is because through the privatisation process, the entire sector was sold at about N400 billion. We are also surprised that the government within the last four years injected N1.5 trillion over and above the amount that accrued from this important asset, and Nigerians are still being made to pay more.”

Kwara Judicial Panel on Police Brutality Receives 18 Petitions Hammed Shittu in Ilorin The Kwara State Judicial Panel of Inquiry on police brutality at the weekend said it has received 18 petitions from members of the public in the state.

The Chairman of the panel, Justice Ibrahim Garba(rtd), who spoke with journalists in Ilorin, also said the panel would commence sitting today (Monday) at Court 2, Sharia Court of Appeal in Ilorin between 10a.m. and 4p.m. daily.

He said those to appear included all those who have earlier submitted memoranda and those willing to give oral complaints on police brutality, human rights abuses and extra-judicial killings.

Garba added that the panel would evaluate evidence presented, surrounding circumstances and draw conclusions on the validity of the complaints.

He also said the panel would also make recommendations on compensations, prosecution and other remedial measures where appropriate.

The panel which was inaugurated by the state governor had earlier called on the public to submit petitions and complaints on any allegation of assault, human rights abuses and extra judicial killings by members of the Nigeria Police Force especially the disbanded SARS between October 26 and November 8, 2020..

11,000Yobe Residents to Benefit from Lawan’s Free Medical Outreach Deji Elumoye inAbuja President of the Senate, Dr. Ahmad Lawan, has reached out to 11,000 beneficiaries (residents) in Yobe State through his 2020 expanded medical outreach programme.

The breakdown of beneficiaries include: 5,000 patients with eye-related problem are expected to receive treatment, while 6,000 patients with hypertension, diabetes and among others will also benefit from the gesture.

The flag off of the event took place at the weekend at the General Hospital, Gashua and Federal Medical Centre in Nguru, Yobe North senatorial district, in the state.

The free medical services include eye treatment and surgery, free gynecological checkup and surgeries.

Others are free surgery for hernia, hydrocele, perianal tear, fibroid and uterine descent.

Speaking at the ceremony, Lawan said: “This medical outreach is in keeping with what we believe is important and a necessary intervention for our people who need either the surgeries or the general treatment to recover their sight or improve their sight.

“We started this in 2018 because we noticed that the people had those challenges at that time and yet majority of them didn’t have the means to receive any medical attention. And since I could afford it, I thought it was my duty to provide the means of some intervention.

So we initiated this programme in 2018.

“In 2019, in addition to eye surgeries, we introduced hydrocele and we increased the number last year. This year we introduced more areas of intervention and also increase the number of patients or beneficiaries.

The state Police Public Relations Officer, Gambo Isah, in a statement issued to journalists, said bandits numbering 10, armed with sophisticated weapons escorted some suspected rustled domestic animals to Tsaunin-Bala village of Danmusa LGA. Isah, a Superintendent of Police, said the Area Commander in charge of Dutsin-ma LGA led

a combined team of policemen and vigilante to the village where they succeeded in arresting 11 bandits, including a notorious wanted gang leader of the bandits, Alhaji Adamu popularly known as Shantal.

He said: “The team succeeded in arresting 11 suspected bandits led by one Alhaji Adamu popularly known as Shantal, a

notorious and wanted gang leader of bandits, and recovered one 185 cows and 54 sheep. Investigation is still ongoing.”

Similarly, he said the Divisional Police Officer of Batsari LGA, who led operatives of Operation Puff Adder, Sharan Daji and vigilante group on patrol in Dankar-Dangayya villages,

nabbed three bandits with 43 rustled cows and 213 sheep.

According to him, “In the course of investigation, the suspects confessed that the animals belong to one Dahiru Musa, a notorious bandit, who was later arrested but could not give satisfactory account as to the ownership of the animals.”

WELCOME ON BOARD...

L-R: Inductee, Chartered Institute of Business Managers and Administrators (ABMAN), Mr. Abbas Abdullahi; Inductee, Dr. Giwa Olawale; Country Director, ABMAN, Dr. Ike Christopher; Inductee, Dr. Abel Audu; and Inductee, Prof. Umaru Pate, during the ABMAN’s conferment of professional doctorate, masters, fellowship and honours in Abuja…weekend ENOCK REUBEN

UAE to Grant Doctors, Students 10-year Residence Visa The United Arab Emirates (UAE) said yesterday that it would grant all doctors and infectious disease experts living in the country a 10-year visa, who are helping to combat the coronavirus pandemic.

Foreigners in the UAE, like most Gulf countries, are generally only given limited residence visas tied to their current employment, and long-term residency is difficult to obtain.

But to attract wealthy business people and highly skilled workers, the UAE last year launched the

“Golden” 10-year visa programme, which is now being expanded.

Those eligible include holders of doctorate degrees, medical doctors, and computer, electronics, programming, electrical and biotechnology engineers, tweeted Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum.

“We are keen to embrace the talent that drives future development and this is only the beginning,” said Sheikh Mohammed, who is also the ruler of Dubai, which has the most diversified economy in the Gulf.

Students from accredited universities who are getting top grades could also qualify, he said, along with those holding specialised degrees in artificial intelligence, big data and epidemiology.

The scheme last year drew in some 6,800 investors, in a windfall worth $27 billion for the economy.

Foreigners account for 90 per cent of the population of some 10 million in the oil-rich UAE, the Arab world’s second-largest economy.

The country has so far recorded

more than 150,000 cases of the coronavirus, including 530 deaths.

A months-long lockdown and the impact on tourism and business has done serious damage to the economy, which was already slumping in recent years due to low oil prices.

The “Golden Visa” was the first such scheme in the Gulf, which keeps tight control on residency.

Similar programmes have been launched in other countries that seek to diversify their economies such as Saudi Arabia and Qatar.

Factional Host Communities of OML 30 Seek Dialogue with Heritage Energy Sylvester Idowu in Warri Some host communities of OML30 have opted for dialogue with Heritage Energy Operational Services Limited (HEOLS) over lingering disputes on the implementations of General Memorandum of Understanding (GMoU) signed with the oil company in Delta State.

The 112 communities, which are host to eight flow stations in the area in the state, said they preferred

engaging HEOLS as against the position of Cluster Management Committee/Presidents General to shut down all oil explorations in the flow stations.

The flow stations located in Ughelli, Ughelli North Local Government Area of Delta State, produces not less than 80,000 barrels of crude oil per day.

Cluster Management Committee (CMC) and Communities’ Representatives Committee (CRC) in the Oil Mining Lease (OML)

30 maintained that they preferred dialogue in resolving issues as opposed to the position of the Cluster Management Committee/ Presidents General to shut down operations of the oil company.

The Cluster Management Committee/Presidents General of the host communities had in a statement signed by Dr. Patrick Oboghor and Mr. Joseph Ibuje, requested for the total disengagement of HEOLS from the oil blocks over consistent failure

to meet its obligations to the host communities.

But while reacting to the position considered as extreme, CMC and CRC, in a statement yesterday signed by Mr. Okpako Godwin Onome, Clement Udi and eight others, maintained that those calling for the company to leave had run afoul of the GMoU signed in the presence of the state government that every dispute must be through dialogues.

10 Billionaires for Induction into Business Hall of Fame The award committee of the Igbo Business Leaders Hall of Fame has unanimously approved the induction of 10 business icons into the Igbo Business Leaders Hall of Fame scheduled for December 5 at the Nike Lake Resort, Enugu under the distinguished chairmanship of former President Goodluck Jonarthan.

The organisers of the event in statement yesterday, said the crop of men and women recognised for their achievements, and their enshrinement by the Hall of Fame is one of the highest honours attainable

in business, sports or professional life.

“The Class of 2020 is undoubtedly one of the most historic of all time and the talent and social influence of these 10 honorees are beyond measure,” said Ifeanyi Igwebike Mbanefo, on behalf of the organisers.

According to him, “In 2020, the business community suffered the unimaginable losses because the world economy was literally shutdown, internal disturbances escalated with attendant security problems and also due to COVID-19 pandemic. Lives were

lost, businesses closed shop, and families lost incomes. However, the courage and tenacity of our awardees served as both example and a source of hope to our people.

We thank our awardees and others not explicitly mentioned here for all they did to keep hope alive, keep the economy working. We look forward to celebrating them at Enshrinement in December.”

“The investiture festivities will begin at Nike Lake resort on Saturday 5th December2020withabanquetfollowed next year with unveiling ceremonies

at of pictures and intimate personal items of the awardees at Unity Museum, GRA, Enugu and National Gallery of Arts, GRA Enugu.

“We consider the coming banquet a ray of light in a dark time for business. The business community was already struggling with a slow growth economy and grieving the death of some of our members.

Then came the coronavirus, which shut down the economy. This event, will at least for a moment, bring something to celebrate”, Mbanefo added.

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MONDAYSPORTS

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

AFCON 2022 QUALIFIERS

Pinnick Intervenes to Quell ‘Mutiny’ in Eagles Dressing Room Duro Ikhazuagbe After Nigeria’s AFCON 2022 qualifying 4-4 draw with Sierra Leone and the bad blood that erupted in Super Eagles dressing room, the Nigeria Football Federation (NFF) is believed to be battling to calm frayed nerves ahead of the reverse fixture scheduled for Tuesday in Freetown.

Eagles led the Leone Stars 4-0

before they were forced to an embarrassing 4-4 draw at the first official game at the refurbished Samuel Ogbemudia Stadium in Benin City.

However, sources at the federation revealed at the weekend that some of the senior players and back room staff heaped blames for the lost points at the door steps of the Head Coach of the team, Gernot Rohr due to his questionable

Sports Minister, Dare, Tasks Eagles to Win in Freetown Minister of Youth and Sports Development, Sunday Dare, has insisted that only a win in Freetown will be acceptable to Nigerians when the Super Eagles take on their Sierra Leonean counterparts in the reverse Group L fixture of the 2022 Africa Cup of Nations qualifier on Tuesday.

Dare who was physically present at the game in Benin City expressed shock and disappointment at the team’s unprecedented meltdown and demanded a response in Freetown tomorrow. “Nigerians have expressed a collective disappointment with the collapse of the team especially in the second half, giving up a 4-0 lead to a team that is ranked 88 times below our biggest football brand, the Super Eagles. “I have expressed my disappointment with the result to the team and the Nigeria Football Federation. Like most Nigerians, only a convincing win in Freetown can assuage our feelings and bruised egos.

Only a win will be acceptable in Freetown,� observed Dare who deferred comments on the suitability or otherwise of Mr Gernot Rohr as manager of the team. “The task at the moment is to get the team firmly back on track towards picking one

of the group’s two tickets on offer for the 2022 AFCON. A win in Freetown will seal Nigeria’s 19th participation in the African mundial. “After this, we can now debate Mr Rohr’s suitability as we seek to return Nigeria to the pedestal of African football and one of the beautiful game’s power houses in world football. “We will reappraise Mr Rohr’s performance since he was named as Super Eagles manager and see if he is the right man to fulfil our expectations,� said Dare at the weekend.

The Sports Minister said he is not unaware of the role the domestic league can play in actualising a Super Eagles of our dreams. “The success of our endeavours in football can only be measured by the success of the domestic league.

A thriving, professionally run domestic league in all cadres will impact positively on our national teams. That’s why I demanded a full implementation of FIFA and CAF club licensing regulations before the start of the new NPFL Season.This will bring us closer to making our leagues viable for investors and restore the confidence of all stakeholders.�

substitutions in the second half of the game.

They also accused Rohr of ignoring counsel from senior players and others with good knowledge of the game that very day.

But because of the task ahead in the reverse fixture in Freetown tomorrow, President of the NFF, Amaju Melvin Pinnick was reported to have intervened to quell the ‘mutiny’ in the dressing room. “(Amaju) Pinnick had to intervene when it looked like some players and coaches were plotting mutiny against Rohr over the way he is handling the team,� observed the source who was at the game in Benin City.

The source pointed out how

captain of the team, Ahmed Musa, had to confront Rohr for making bad changes in the course of the game.

Most of the senior players are also believed to be questioning the competence of the German as his understanding of the game against Sierra Leone appeared flawed. “The Sierra Leonean coach made three changes and those substitutes changed the game.

Our own Rohr reduced the effectiveness of our team by some curious substitutions that were ineffective. “The worst part is that he did not seek any of his coaches opinion before the game. He only wrote some things on a paper and passed to the

team’s secretary, Dayo Enebi, who then submitted names for substitutions,� observed the source.

The fears now being expressed is that if Pinnick’s intervention fails to produce the needed balm to soothe frayed nerves in camp, “Nigeria could witness worse performance in Freetown,� quipped the source.

The source also revealed that some of the senior players in the team have started questioning Rohr’s competence, arguing that the German has not been able to lift the team above the 2018 level. “I have been confronted by some of these players with what they perceive as the poor coaching from the technical crew.

“After the 2-1 loss to Argentina at the World Cup in Russia, Rohr said he had learnt his lessons from that game. But he seems to have learnt nothing. “Some of the senior players have now decided to play more active part in team selection and management during games since Rohr has shown a glaring lack of capacity to manage the team effectively. “I am sure that if the late Amodu Shaibu or Stephen Keshi were in charge of the Super Eagles, no team, not even France or Brazil, can force Nigeria to a draw after trailing by 4-0. It is not possible,� conclude the source.

Super Eagles players celebrating their 4-0 advantage against Leone Stars before complacency and poor substitutions cost Nigeria valuable points as Sierra Leone leveled 4-4 to tie the game

Sierra Leone President Celebrates Draw against Nigeria the Super Eagles in Benin City last Friday.

Reacting to the result Bio praised the Leone Stars for

refusing to accept defeat. “Brave Lion hearts, Our Leone Stars!� Bio wrote on his verified Twitter handle.

“Leveling up from 4-0 to 4-4 shows we are not taking defeat this time. You have made us proud, Leone Stars,� concludes President Bio.

Rivers Utd Beat Bayelsa Utd to Lift Wike Pre-season Trophy

Sierra Leone President, Julius Maada Bio, has praised the Leone Stars for their gallantry in securing a 4-4 draw against

Rivers United goalkeeper, Theophilus Afelokhai, was the hero for the host team after scoring the winning penalty at the just concluded Governor Wike Pre-Season Championships at the Sharks Stadium in Port Harcourt as they lifted the second edition of the competition.

A second half goal by Bayelsa United’s Christian Mizo was cancelled by Chika Godwin as the regulation time ended 1-1.

Towards the end of the game, the two sides substituted their goalkeepers with Theophilus Afelokhai replacing Darlington Ovunda for Rivers as Raphael John replaced Isiaka Ogunbiyi in goal for Bayelsa United.

The four players scored their penalties for both sides with the two goalkeepers expected to take the fifth kick.

Bayelsa United goalkeeper was the first one to step up and he ballooned his kick up the bar allowing Afelokhai to secured the win.

The former Enyimba

NBBF Budgets $4m for Tokyo 2020, Seeks Corporate Sponsorship

goalkeeper scored two goals in the competition and he was rewarded with the best goalkeeper of the tournament award.

Ottasolo FC was rewarded with the best team of the tournament while the highest goal scorer award went to MFM FC forward, Clement Ogu, the only player to score three goals in the tournament.

The Most Valuable Player of the second edition of the pre-season went to Bayelsa United’s Okardi Inukurogha.

The final was witnessed by the state’s Sports Commissioner, Boma Iyaye, Permanent Secretary of the Ministry of Sports, Honour Sirawoo, the state’s PDP Chairman, Desmond Akawor, who represented the state Governor, Nyemson Wike.

Others at the final include; former Commissioner for Health, Sampson Paker, and Special Adviser to the governor on Real Madrid Academy, Chris Green among others.

The Nigeria Basketball Federation (NBBF) officials have confirmed that the federation has budgeted $4m (about N2 billion) to enable it prosecute the basketball events of the postponed Tokyo 2020 Olympic Games now billed for 2021.

Nigeria presenting two teams (men and women) in what is an African record as no other country in the continent has ever qualified their male and female teams at the same time for the Olympics.

Vice President of the NBBF and Chairman of the Technical Committee, Babatunde Ogunade who spoke on behalf of the NBBF at the weekend said the proposed budget covers the two national teams.

The FIBA Hall of Famer said the budget is not “one that should be left all alone for the

Federal Ministry of Youths and Sports Development to bear.�

He therefore added, “The NBBF board is elated to have qualifications for both D’Tigers and D’Tigress – and proudly a first by any African country – but there is the huge burden of funding the teams.

The federation needs estimated N2billion to prosecute the Olympics in Tokyo. “This will include but not limited to flight tickets, stipends, allowances as well as match bonuses. There is also plan of pre-camp and during camp travels for friendly international matches for both teams. The trips would impact heavily on the budget.�

The biggest challenge the NBBF is facing, according to Ogunade, is the quality and calibre of players the federation

is attracting from the NBA, WNBA and top leagues in Europe to the Olympics camp. “The known NBA standard is that their players cannot fly on economy tickets but at least Business Class on any flight.

And Nigeria is going to parade nearly 10 of such players in the team. “The federation is trying hard to have fair morale balancing and would then have to buy the same type of tickets for the players rather than have some sit in the business section with others in the economy class. The same treatment is also going to apply to the ladies to avoid accusations of discriminating against the D’Tigress.�

While calling on corporate organisations to come to the aid of the federation, Ogunade

pointed out that the enthusiasm expressed by the players is one of assurance that they are ready to give their best for Nigeria. “The federation has gotten the assurances of the players but on our part, we need to also meet their basic needs.�

Earlier investigation revealed that the Sports Ministry still owes the NBBF expenses from the last AfroBasket Women 2017 held in Mali and the 2019 edition in Senegal where D’Tigress won the title back-to-back.

The federation is also yet to get refunds for the FIBA World Cup 2019 African Qualifiers and the FIBA World Cup 2019.

All these competitions were executed before the current Sports Minister, Mr. Sunday Dare, took charge of the ministry.

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MONDAYSPORTS

Absolutely Rohr-bish!

S

potlight has been shed on the Super Eagles’ Head Coach Gernot Rohr ever since the team threw away a four-goal lead to draw 4-4 at home in an Africa Cup of Nations qualifying match in Benin City last Friday. A lot of things come to bear when discussing the match and Nigerians are rightly justified to feel that lack of ideas from the bench can be attributed to the loss of two points. The fact that the Eagles were playing at ‘home’ and also the quality (or lack of it) of the opposition added fuel to the fire of disappointment.

The Franco-German coach was fired by Étoile Sportive du Sahel of Tunisia and Nantes FC of France in 2009 and 2010 respectively. He got the Super Eagles job in 2016 after also being fired by Burkina Faso and rejected by Guinea. He won his first match as Eagles coach and has a record of 29 wins, 13 losses and 10 draws in 52 matches in charge of the Nigerian senior national team. Not a stellar record considering that most of his opponents were African teams who are below Nigeria in the FIFA rankings. His major achievements as Nigeria’s national team coach was being the first African team to qualify for the FIFA 2018 World Cup

and winning a bronze medal on a platter of gold. He was at the AFCON 2019. Nigeria not hungry for the job. Anyway failed to qualify for the two the NFF is not a democratic editions earlier before Rohr’s body. It’s a private organization arrival at Eagles. with government limbs‌so as Rohr has been heavily long as the wise men there see criticized by the sporting Rohr as a friend, his job, no media for not showing enough matter how average, is safe. tactical acumen. The NFF even Nigerians have taken acknowledged this fact when announcing they are sending him to Germany (home) for a refresher course after his failure at the World Cup in Russia. Some critics also point to his lazy brand of recruiting players from all over the world irrespective of talent to play for the national team once there is a hint of Nigerian blood in them and this comes at the expense of local talents whom many feel abound in the domestic league. In fact, the team that was embarrassed

by Sierra Leone (a team 50 places lower than Nigeria on the current FIFA rankings) was made up entirely of players that can best be described as ‘European Journeymen’. Gernot Rohr...under pressure Some of them have even been to deliver in Freetown clubless for a while.

The fact that the tactician’s to social media to express (and I use this term with their frustration after the caution) contract was renewed Super Eagles threw away a this year is one of the great four-goal advantage as Sierra mysteries of Nigerian football. Leone secured a 4-4 draw in Everyone, or almost everyone Friday’s Africa Cup of Nations knew his record was mediocre qualifier. The result left fans at best. He did not even disappointed and they have demand a renewed contract. questioned the performance Without asking he was given of the three-time African

champions. A lot of memes and jokes have been flying around twitter. But it is no laughing matter, as the anger is not a result of this single match, any team can have a day off‌but the fans have frustratingly seen a decline in the usual poise and pace they bare so used to in the beloved Super Eagles. It is a systematic decline that should be arrested now. And the first head to roll should be the chief coach.

It is no question of wether Nigeria will qualify for AFCON 2022 in Cameroon. We may still top the group because we are much better than the teams we have been paired with in Group L by a country mile. But the challenge will start when we get to the competition proper. We probably will struggle through the group stages and ‘wobble and fumble’ (Apologies to Ambassador Fanny Amun) to the knock out stage. And when it gets to the crunch time when a coach’s input is really crucial, both tactically and psychologically, we would come up short again because what we have on the bench is led by someone that has so far proven to be very average.

One thing is certain, Rohr will see out his juicy contract and the Eagles under him will remain an average team.

Sierra Leone came here with a mixture of foreign-based and local players and gave us a

run for our money with our team donned predominantly with oversees players and one clubless player. How can you justify the invitation and fielding of a clubless player while refusing to invite our local players who at least are engaged with preseason friendly games? It is hoped that Austin Eguavoen, Paul Aigbogun and the Technical Committee will have the courage to ask Rohr to present his technical report of the match. It is hoped that they will be able to officially tell him that he flopped. It is hoped that the NFF will ensure that Rohr comes back to Nigeria after we would have won in Sierra Leone to resume work officially as was stated in his contract.

He shouldn’t have any excuses because Nigeria is better than Europe in terms of the spread and control of the coronavirus. He should be able to go round venues and see matches as the Premier League is about to kick off.

He should establish a camp for our home based players now and earn his fat salary.

It is hoped that the NFF will

have the courage to review his salary downward as a result of the effect of coronavirus as it has been done the world over.

Let the Technical Committee be seen working without any interference and let us see their development plans. This time let the NFF not see people that criticize them as enemies but as friends. The NFF should be open to new ideas from all sections of the country. This is yet another wake up call. This present set of administrators can still bring out the best.

But it is time we look to control how our team performs and do something to stop the decline. It is our pride as Nigerians, and no Franco-German would feel the shame or pride more than we do as the team performs.

The Super Eagles are a national symbol. A unifying point in our troubled and divided nation.

We should not joke with it.

Not at all.

* EneďŹ ok is an author, Speaker, administrator, Life coach, businessman and Nigeria’s ONLY Male two Time Olympic Medalist

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

Enrique Stands with Ramos after Two Penalty Misses Spain Head Coach, Luis Enrique, has jumped to the defence of recordbreaker Sergio Ramos, who missed a pair of penalties in Spain’s 1-1 draw with Switzerland on Saturday.

On a night when Ramos passed Gianluigi Buffon to become the most-capped player in European football history, the Real Madrid captain saw two secondhalf penalties saved by Switzerland keeper Yann Sommer.

Remo Freuler opened the scoring for the Swiss in the 26th minute, before Gerard Moreno spared Ramos’ blushes with an 89th-minute equaliser in the UEFA Nations League match at St. Jakob-Park in Basel.

Ramos had scored a remarkable 25 straight penalties for club and country before missing two in the span of 23 minutes, and his head coach said that record means he is in no danger of losing his status as Spain’s top penalty-taker. “Sergio Ramos’ record with penalties is up there with the very best,�

Luis Enrique said after the game. “It would be very unfair to take him off because he’s missed one, two, three. “If there were another penalty, he would’ve taken it...if he misses two, to take him off penalty duties would be a joke. There’s a list of penalty takers and Sergio Ramos is at

the top.�

Gerard also backed up his coach’s words on a night when Ramos reached his 177th international appearance. “Sergio is a born winner.

Today he couldn’t score the two penalties but he’s played many games – many defeats, many victories. He has a lot of experience,� Gerard said. “Today the penalties didn’t go in but I don’t know how many he’s made before that. It’s not something we should worry about. I’m sure if there’s another penalty he’s going to take it and he’s going to score. “We are all calm. Sergio is also calm. I haven’t been able to talk with him yet

but I’m very calm that the next penalty Sergio takes he’s going to score.�

Wi t h t h e d r a w o n

S a t u rd a y, S p a i n f e l l t o second place in Group 4 of League A, one point behind Germany.

La Roja will take on G e r m a n y t o m o r ro w a t the Estadio La Cartuja in Seville.

Sergio Ramos...missed two penalties against Ukraine

Senegal’s Teranga Lions First Team Ogunbanjo Wins Maiden DStv Premium to Book AFCON 2022 Ticket Golf Day Star Prize Africa’s leading team, the Teranga Lions of Senegal became the first team to qualify for the 2022 Africa Cup of Nations with two games to spare after defeating Guinea Bissau 1-0 on Sunday evening.

The Lions preserved their unbeaten record in the qualification matches to earn them an unassailable lead at the top of Group I. With 12 points from four matches, the worst they can finish with in the two matches remaining is second and that means they have already earned their ticket to Cameroon.

Sadio Mane scored the lone goal of the match in the 82nd minute, making amends for several missed chances in the second half as Teranga Lions showed their supremacy.

Guinea Bissau had to finish the match with 10 men after Bura Noguieira was sent off for a second bookable offense in the 64th minute.

For all their dominance, Senegal were happy to come off with three points and a ticket to Cameroon. Sadio Mane was at the heart of all Senegalese open chances in the opening half. In the eighth minute, he had a go at goal with an improvised shot from inside the box which went wide.

In the 16th minute he had a brilliant chance with an open goal when Boulaye Dia did well to skip over the keeper, but the Liverpool FC forward who picked up the ball hit the side netting.

In the 28th minute, Mane had another chance with a volley

from distance but once again his effort could not come on target.

In the second half, the home side pumped in the pressure, hoping to punish Senegal for all their missed chances. On the hour mark they had a chance when Marcelo Djalo forced the Senegalese keeper to a great save with a header inside the box off a corner.

But Guinea Bissau’s hopes of piling the pressure for a goal were deflated four minutes later when Bura was sent off and Senegal turned the tide to take advantage of the numerical advantage.

And Mane made them pay with eight minutes left when a little link up play with Dia saw him break into the box before toe poking past the keeper.

Ogunbiyi Ogunbanjo at the weekend out-stroked 98 other golfers to emerge winner of the star prize at the inaugural DStv Premium Golf Day held at the Ikeja Golf Club in Lagos.

Ogunbanjo who is a member of the Ikeja Golf Club emerged winner with a net score of 65 to claim the ultimate prize of a business class ticket and accommodation for a weekend stay in a five-star hotel in Dubai.

Remi Olukoya with a net score of 67 was the first runner-up. He also got a business class ticket and a weekend stay at a five-star hotel in Rwanda.

The second runners-up, Mr Rasheed Adebisi, who had a net score of 69 was also

rewarded with a weekend stay in a five-star hotel in Lagos.

Mrs Linda Obieze won the female category with the same score as Adebisi. Obieze won a golf bag for her effort.

Other winners include; Femi Ajala who was rewarded with a 55 inch television set for the Longest Drive and Ife Muritala, who got a golf bag for Nearest the Pin (Hole 17).

Speaking at a cocktail after the event, Captain of the Ikeja Golf Club, Mr. Oladimeji Durojaiye, thanked the sponsors for choosing the club for the sponsorship initiative. “We thank the DStv team for bringing such initiative to Ikeja Golf Club. This is the first tournament since Covid-19 lockdown and the feedback from players

has been very impressive.

We sincerely hope this will become an annual event,�

Durojaiye said.

Mr. Tope Oshunkeye, Head of Marketing, MultiChoice Nigeria who stood in for CEO, MultiChoice Nigeria, Mr. John Ugeh, said DStv was happy to be associated with the event.

He explained that the support was the company’s way of showing appreciation to subscribers on the DStv Premium package A total of 500 entries were received from golfers for the event but the organisers were forced to trim the number in observance of the physical distancing requirement the Covid-19 protocols.

TR

Monday November 16, 2020

UT H

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Price: N250

MISSILE

Olanipekun to N’Assembly

“The news is everywhere and the propaganda has gone haywire that the National Assembly is amending the constitution, as if what the constitution needs is an amendment rather than a total overhaul starting from the preamble to the definition schedule” – Former President of the Nigerian Bar Association (NBA), Chief Wole Olanipekun (SAN), declaring that what Nigeria needs is not an amended Constitution but a brand new people-oriented document.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

Take Back Your Machete and Give Me Books

O

n Saturday November 7, 2020, I had the privilege of presenting a keynote address at Umuahia, Abia State on the occasion of the 2020 Diocesan Youth Day Celebration, organised by the Catholic Youth Organisation Of Nigeria. I crave your indulgence to share the speech with you today. I can only add that given the situation the Nigerian society finds itself today, there is a compelling reason to pay greater attention to the youth and the challenges of engaging them to greater relevance and development. This must start with a single minded focus on education. If we fail in this endeavour, it will be a very grave and regrettable outcome for us and our future.

“Education is the great engine of personal development. It is through education that the daughter of a peasant can become a doctor, that the son of a mine worker can become the head of the mine, that a child of farm workers can become the president of a great nation. It is what we make out of what we have, not what we are given, that separates one person from another.” Nelson Mandela

Introduction I thank the organisers of this conference for finding me worthy to be the keynote speaker at the Diocesan Youth Day Celebration for this year, whose theme is “YOUNG MAN, I SAY TO YOU, ARISE”. It would not be out of place to contextualise the word “youth” for our purpose here. This is because the term has been used differently by different people. The United Nations defines youth as ‘young people between the ages of 15 and 24’. The Nigerian National Youth Policy, 2019 classified youth as ‘people between the ages of 15 and 29’. Whichever definition we choose, anybody 30 years and above cannot be genuinely considered as youth, even if they look youthful. Then to the main issue: How do we handle this discussion? There are two ways of handling an assignment like this. The first is to say the usual perfunctory nice things about the youth, like, “the youth are leaders of tomorrow” or “any society that does not pay attention to the youth is doomed” and get an applause from the audience, share a meal with you and leave. While these statements may not be false, I also know that I would have added little or no value to the conference if I went in this direction. The second approach is to tell you the truth no matter how bitter it may sound and hope that “the truth shall set thee free”. I have chosen the second option, and in that wise, I have also modified the topic I was assigned from “Entrepreneurship and Empowerment” to “Take Back Your Machete and Give Me Books”. We believe politicians have bastardised the term ‘empowerment’ and we intend to stay away from that word as much as possible. We also believe this topic is appropriate as people living in Abia can relate with it. Many people here will remember that in April 2015, just over 5 years ago, some politicians in this state armed some youths with machetes and deployed caskets in major junctions threatening hell and brimstone if their preferred candidate who actually lost the election was not declared winner. The rest like they say is now history.

The Narrative God created man equal and before Him, everyone is equal. The youth should not accept

Abia State Governor, Okezie-Ikpeazu any narrative that makes them look inferior to other humans. Yes, they may be young but not inferior. That someone has cornered public resources or is lucky to have a lot of resources at his disposal does not make him smarter or better than you. Time and chance happens to them all, says the holy scriptures. A situation where our youths succumb to picking crumbs or peanuts for less than dignifying roles in the society should be discouraged. A situation where you are recruited as thugs to rig elections and attack opponents reduce you individually and collectively. It is not just that the politicians regard and treat you as touts, but you aid them to cheat you and your hapless parents.

You worship them as if they were gods and do their bidding just for pittance. Anytime someone pays you to render less than noble services to him, you become a slave to him.

You lose the moral right to complain when he is doing the wrong thing because he has settled you. You forget that the money they pay you is your money. You forget that when you collect N1000 to rig elections or sell your votes, it translates to N250 per year for the four years. Is that what you are worth? You forget that the children of the politicians are not here, yes, that includes mine. They are not part of the touts. They cannot be thugs, even though that does not guarantee that they do not become dysfunctional. They cannot be used for elections. You don’t ask, why are we only relevant during election seasons? Yes, in between, you default to armed robbery, kidnapping and arson, given that you have weapons in your hands, but is it an enduring trade? You tend not to ask: why do they arm us with machetes and dangerous weapons every four years? What future do we have? For how long would we do these jobs?

The Alternative It was Thomas Sowell who said “No one will really understand politics, until they understand that politicians are not trying to solve our problems. They are trying to solve their own problems - of which getting elected and re-elected are number one and number two. Whatever is number three is far behind”. Are you still wondering why things are the way they are in Abia and Nigeria? It is therefore for you to “shine your eyes” and understand what is in your interest. Anyone who is interested in you will equip you to be successful. The equipment you need are not guns and machetes and dangerous weapons even if you have chosen hunting as

your profession. The time for “empowerment” by your “leaders” is over. The empowerment that ends up consigning you to menial jobs should stop. Some of you are still excited that politicians give you Keke Napep, Motorcycles, bicycles, sewing machines, frying pan and of course, money. Those are not what you need at this time. Like Nelson Mandela said above, what you need is Education. Quality Education!

Yes, we Igbos are endowed with entrepreneurial spirit and there is nothing wrong with that. But a well educated entrepreneur will always do better than an illiterate one. It takes education to prepare your business in a way that it can attract capital and be bankable. It takes education to know that your revenue is not profit. It takes education to know that you should separate the money of the business from your personal money. It takes education to understand that you should earn salaries even if you own the business rather than seeing the entire money of the business as your own. It takes education to know that you must keep proper books for your business. I am in a position to know as a former bank CEO. You may argue that some successful businessmen did not ‘break chalk’ but were successful nonetheless. While, you may be right, what is also right is that they may have been even more successful if they had education. So, even if you have a flair for business or building or manufacturing something, you must do all there is to get educated. And like our people say, “madness is better at a young age”, it is better to go to school when your mates are also in school.

This is not to say that if you didn’t have an opportunity at young age, you shouldn’t take advantage of adult education, but that option should be the exception rather than the rule. It is along these lines that some of us, rather than dash money out in form of “empowerment” have decided to impact people through our scholarship programme. Permit me to make reference to the Alex Otti Foundation (AOF) which has been supporting indigent students in paying fees and providing educational support to people living in Abia. Just this year alone, the AOF gave scholarships to 32 qualifying students and this scholarship will last for the duration of their studies in higher institutions.

Out of the 32 students who benefitted from this programme one of them is a Medical Student from the University of Nigeria, Nsukka. He is to enjoy the scholarship until he graduates in another 5 or 6 years. The scholarship programme is non partisan and all you need to qualify is that you are resident in Abia, (State of origin is not relevant) and pass the required assessment.

Application for next year’s scheme would soon open and I encourage you to take advantage of this opportunity by visiting the website www. alexottifoundation.org for more details. The summary of what we are saying is that any one who gives you fish may have done well but the better thing is to teach you how to fish.

At the risk of sounding immodest, permit me to inform you that yours truly is a product of sound education. From very humble beginnings, no one would have imagined that one would rise to this level. Going to the University, a remote possibility, became a reality because one managed and denied oneself a whole lot and most importantly, supporting parents to make the load lighter. With hard work and God’s blessing, one was able to graduate ahead of one’s class and the rest is now history. If that can be my experience, it can also be your experience.

The Alleviative

There is no doubt that government can not employ everyone of you. The job of government is not to generate employment but to create the enabling environment for the private sector to thrive. It is only when the private sector is doing well that it can create jobs. Like we had noted before, our people are born entrepreneurs.

Entrepreneurship can only survive where there are objective conditions for it. Sadly, the environment in Abia has become so hostile to the entrepreneur that initiatives have taken flight. With broken infrastructure, unhealthy and insecure environment, and general lack of interest in supporting the private sector, most of the youth have come to see government as the only sector to hang on to. Even in the public sector, salaries and allowances remain unpaid for several months. When salaries are not paid, the economy gets depressed as consumption cannot happen without purchasing power.

When consumption is impaired, production would also be impaired. Production can only improve if consumption is improved.

With depressed production, what you have would be layoffs and closures, rather than job creation. In a recent report by the National Bureau of Statistics, our state took the 24th position out of 36 States in internally generated revenues as at 2019. Lagos State which came 1st raised a total of about N400b in internally generated revenue and our dear Abia State generated less than N15b the same year. Just imagine what would have happened if we fixed Aba, the commercial and industrial hub of the state, nay South East. We could net in a conservative N50b in a year. What we need to fix Aba would be fractions of a few year’s possible internally generated revenue. Note that the same applies to other towns including Umuahia, the state capital. My sense is that if we do not change our mindset and get our environment to be business-friendly, the whole talk about entrepreneurship will remain a pipe dream. This is because entrepreneurs are rational and will move to where the environment has been prepared to receive them. Put simply, businesses will flow to the environment where the cost of doing business is lower and ease of doing business is better in order to remain competitive and maximize profit.

Conclusion It is our considered opinion that the future is here with us. Any promise of the youth being future leaders in a futuristic sense is deceptive.

Those in our generation promoting primordial interests do so for their selfish interests. The future is here and now. The youth must rise to the occasion and lend their voices to the call for good governance. They must participate in decision making about resource allocation and good governance. They should not be consigned to a situation where they are subject to being bribed because when they do, they trade away their future. They must do everything possible to acquire good education. Entrepreneurship is good but can only be more meaningful, if backed by good education. Government needs to do its part to create the enabling environment for businesses to thrive. That is the part to sustainable empowerment. Any empowerment that revolves around handing cash or commodities to people is in the realm of bribery and should be collectively resisted.

Most importantly it is a short term solution that can never be enduring.

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