MONDAY 9TH JANUARY 2023

Banks Only Authorised to Dispense New Banknotes via ATMs, CBN Clarifies

Says no going back on January 31 deadline to phase out old N200, N500, N1,000 Partners National Orientation Agency, markets’ associations on aggressive awareness on naira redesign

Obinna Chima and Nume Ekeghe

The Central Bank of Nigeria (CBN), yesterday, clarified that for now, banks were only authorised

to dispense the new N200, N500 and N1, 000 banknotes through Automated Teller Machines (ATMs). The apex said it had intensified efforts to ramp up circulation of the new notes.

The bank, also yesterday, reiterated that there would be no extension of the January 31 deadline for the return of old N200, N500 and N1, 000 notes to the banks.

In addition, the central bank, in collaboration with the National Orientation Agency (NOA) and various market associations, would beginning from tomorrow commence

aggressive enlightenment and public awareness campaign on the naira redesign project as well as the need to properly handle the naira notes.

A top official of the central

bank, who pleaded to remain anonymous, disclosed these in a brief chat with THISDAY yesterday night.

Continued on page 5

Obi Replies Tinubu, Says No One Has Ever Accused Him of Corruption...

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Monday 9 January, 2023 Vol 27. No 10135. Price: N250

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Edo Govt Rejects Tinubu’s Stereotyping of State’s Youths as Yahoo Yahoo Fraudsters...

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32 Passengers Kidnapped By AK-47 Wielding Gunmen in Edo Train Station Attack

One regain freedom, several injured as deputy governor visits scene FG condemns incident, says security agencies making efforts to rescue victims Atiku expresses concern, insists presidential election is all about salvaging Nigeria Chuks Okocha, Kasim Sumaina in Abuja; Adibe Emenyonu in Benin City and

Sunday Okobi in Lagos No fewer than 31 passengers

and staff of the Nigerian Railway Corporation (NRC) were believed to have been abducted by gunmen

on Saturday at the Igueben train sub-station in Edo State, while several passengers were injured.

Edo State Commissioner for this yesterday, during a media Information and Orientation, Mr. Chris Nehikhare, disclosed Continued on page 5

INEC Releases Final List of Presidential, National Assembly Candidates for Polls Akpabio, Nwaoboshi, Machina make list 4,223 candidates contesting for 469 federal legislative positions 48 million out of 93.5 million eligible voters are youths, commission reveals

Chuks Okocha in Abuja

The Independent National Electoral Commission (INEC), yesterday, released the final list of presidential and National Assembly candidates of all the political parties contesting the February 25 elections.

The publication of the final list of candidates for national elections (presidential, senatorial and federal constituencies) was pursuant to section 32(1) of the Electoral Act 2022 and item 8 of the Timetable and Schedule of Activities for the 2023 General Election.

The publication of the full names and addresses of all nominated candidates followed the conduct of primaries and completion of the nomination exercise by political parties’.

It was also sequel to the display of the personal particulars of all nominated candidates in their constituencies Continued on page 5

PINNACLE'S THANK YOU VISIT TO THE PRESIDENT...

L-R: Emir of Bichi, HRH Nasiru Ado Bayero; President Muhammadu Buhari, and CEO, Pinnacle Oil and Gas Limited, Dr. Peter Mbah, during Pinnacle's thank you visit to the president at the State House, Abuja on his recent inauguration of the $1 billion intake and offtake terminal at the Lekki Free Trade Zone…recently

SUNDAY AGHAEZE

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PAGE FIVE 32 PASSENGERS KIDNAPPED BY AK-47 WIELDING GUNMEN IN EDO TRAIN STATION ATTACK briefing.

The state police command, in a statement yesterday, said the kidnappers were herdsmen armed with AK-47 riffles. It said some of the passengers sustained bullet wounds, and assured that bush combing and rescue operations had begun to try to rescue the victims.

The federal government, in its own reaction yesterday, condemned the kidnapping incident at Tom Ikimi Train Station, Igueben, as despicable and utterly barbaric.

The government, through the Ministry of Transportation, stated that efforts were being made to rescue the kidnapped passengers and officials of the train station.

The presidential candidate of Peoples Democratic Party (PDP), former Vice President Atiku Abubakar, also expressed concern over the attack. A statement by the Atiku Media Office, yesterday, said the incident, “is the latest in a long condemnable line of security breaches previously unseen in our national history.”

To deal with such brazen assaults and enhance security nationwide, Atiku suggested the “amending our constitution to allow for state and community policing as a first line of security.”

However, Nehikhare disclosed that one of the kidnappers had been arrested and was currently helping the police in their investigation, while one of the victims escaped.

The information commissioner said, “After 32 persons were kidnapped, the police, vigilante, and local hunters swung into action, combing the bushes around the vicinity. One of the kidnapped victims was able to escape.

“The Edo State Deputy Governor, Philip Shaibu, has visited the scene of the attack for on-the-spot assessment and was told that one of the suspects was arrested and he has been helping the police with investigation to arrest other fleeing

members of the kidnapping gang.

“We congratulate the police and other security agencies for their swiftness in attending to the security brief. We appreciate the local hunters and members of the Edo State Security Network, as their collaboration assisted in this operation. This synergy led to the success recorded in a very short time.

“We hope this is the last time we will have such an attack on government infrastructure, especially train stations here in Edo State. Our security network was swift to react to the incident and we condole the families of victims. We will give necessary support to the security agencies, vigilantes and local hunters who are on the trail of these kidnappers.”

The Edo State police command press statement read, “This is to inform the gentlemen of the press that on Saturday, 7th of January, 2023 at about 1600hrs, unspecified number of herdsmen armed with AK 47 riffles attacked the train station at Igueben, Edo State, and kidnapped unspecified number of passengers, who were waiting to board the train to Warri.

“The kidnappers, who shot sporadically into the air before kidnapping some passengers, left some persons with bullet wounds. The Area Commander, Irrua, DPO Igueben Division, and men have visited the scene of crime with members of the Edo State Security Network, local vigilantes, and hunters with a view to protecting the lives and property of the remaining passengers.”

The command, in the statement signed by its spokesman, Chidi Nwabuzor, explained that the suspected herdsmen took their victims into the bush.

Director, Press/Public Relations, Federal Ministry of Transportation, Henshaw Ogubike, in a statement made available to journalists in Abuja, explained, "The public

is hereby reassured that the security agencies are making efforts to rescue the kidnapped train passengers."

Ogubike added that the Nigeria Police were on the trail of the criminals and had mobilised with a view to protecting the lives and property of the remaining passengers.

He said, "The government is saddened by this unpleasant development and assures on its prompt response to the ugly situation. Further details will be communicated later."

Liaison Officer to Igueben Local Government Area, Best Oseh, said security agencies and paramilitary organisations were already combing the forests within the area to get clues for possible rescue of victims and arrest of those behind the act.

Oseh said, “As I speak, people are in the field all over the place, vigilante, security agencies and other people. Everybody is concerned but we have to be careful with what we divulge so that we won’t jeopardise the processes of what we are doing.

“As for the category of people kidnapped, some of them are from Igueben while others are passengers from other places and as for the number, for now, we are looking at over 30 but we can only give comprehensive number when preliminary investigations are concluded.”

A resident of the area, Mr. Odia Benson, said the abductors released two kids, who were with them, while a woman escaped. Benson said some staff of NRC, including the station manager and ticket clerk, were among those abducted.

According to him, “The train normally arrives by 5pm. A about 20 minutes to that time, bandits just came through the bush part and invaded the place, they took away the station manager, took away the booking clerk and about 29 other passengers made up of

EDO GOVT REJECTS TINUBU’S STEREOTYPING OF STATE’S YOUTHS AS YAHOO FRAUDSTERS Speaking on the distribution of the new naira notes, the official said, “Banks are barred from distributing the new notes over-the-counter. All new notes must go to the ATMs. The directive to the banks from the central bank is that as they must dispense through their ATMs nationwide and people can go to the ATMs to collect the money.

They cannot dispense the new notes across the counter for now until the exhaust the new notes.

And when that happen they can then upload the old notes.

Until they get another supply of new notes.

“That is the only way to ensure that the new notes are being circulated. Otherwise, what the banks were doing from our intelligence, was that they were holding the cash and giving it to high profile individuals and customers over-the-counter and not circulating it to ordinary customers. So, we decided they must only dispense it through ATM machines for now until it fully circulates in the financial system.”

The source warned that banks caught breaching this directive would face stiff sanctions.

Meanwhile, the central bank, in collaboration with the NOA and various market associations, in what has been tagged, “Market Storm,” would commence aggressive public enlightenment on the naira redesign project from tomorrow.

On Tuesday, the exercise would hold in various markets in Gombe, Minna and Asaba, in the first phase, and also hold in Kano, Ogun and Onitsha this Thursday. The exercise would be extended to other major cities across the country from next week.

“The essence is to continue to enlighten market people on why the naira redesign project was embarked upon, let Nigerians

know that they should respect the naira and also encourage them to embrace alternative payment channels,” the source added.

CBN Governor, Mr. Godwin Emefiele, had on October 26, 2022, announced the central bank’s resolve to redesign, produce, and circulate new series of the N200, N500, and N1, 000 denominations.

Emefiele had said the move would help to manage money supply, tackle currency counterfeiting and terrorism, among others.

The circulation of the new banknotes commenced on December 15, 2022, while the new and existing currencies remain legal tender and circulate together until January 31, 2023, when the existing currencies shall seize to be legal tender.

Emefiele had insisted that the January 31 deadline remained sacrosanct, adding that the 100 days provided for people to deposit existing banknotes in commercial banks was adequate.

President Muhammadu Buhari, subsequently, on November 23, 2022, unveiled the redesigned banknotes during the weekly Federal Executive Council (FEC) meeting.

At the weekend, following criticism of the quality of the new banknotes, the Nigerian Security Printing and Minting Plc (NSPM) had assured Nigerians that the currencies were of the highest quality as the old notes, while warning the public against carrying out experiments on the new notes.

In a statement signed by its Managing Director/Chief Executive Ahmed A. Halilu, the NSPM had stressed that the new notes were of the same substrates and passed through the same printing processes and finishing procedures which it had been using since 2014.

Halilu explained, “The NSPM

PIc has been meeting the currency needs of Nigeria with the support of the Central Bank of Nigeria since 2014. Indeed, Nigeria has achieved zero importation of currency, developed local capacity and, to an extent, conserved foreign exchange within this period.

“It is, therefore, basically the same as the other notes in circulation. It also leaves traces of intaglio inks when rubbed on plain white surfaces. It is, howe ver, important to note that new banknotes are generally light when issued, then become heavier in circulation on getting in contact with dirt and moisture.”

Meanwhile, findings revealed an increase in the distribution of the new banknotes via ATMs by bank customers. THISDAY observed that more people were able to access the new notes over the weekend.

THISDAY visited some bank branches across Lagos to find out the level of compliance with the central bank’s directive that they should load their ATMs with the new currencies. Findings showed that a lot of the banks’ ATMs had started dispensing the new banknotes.

At the United Bank for Africa (UBA) and Fidelity Bank branches visited, their ATMs were paying new banknotes.

THISDAY also visited few supermarkets in Gbagada, Lagos and saw the new notes being accepted and exchanged at the cashiers.

Speaking to THISDAY, a lady simply identified as Miss Chiamaka D said she came in contact with the new note for the first time yesterday.

She said, “I hardly go into banking halls because I mostly do transfers and use ATMs for cash so this step to put the notes in ATMs is a good one. Now more people would be acquainted with it before the deadline.”

males and females.

“As I speak with you, the Deputy Governor of the state, Philip Shaibu, left the place about an hour ago, the Commissioner of Police and his men are here, men of the 4 Brigade Nigerian Army are here, the Director of the Department of State Services (DSS) and some personnel and many paramilitary representatives are all here, including the DPO Igueben and his men, the Esan Akatakpa Security network, the hunters’ association have been in the forest since last night doing bush combing. We are hoping that by the end of today, the victims would be rescued.

“The railway station is surrounded by forest, and there is no security, no police, no vigilante and they are at the mercy of God. The station is in Igeueben town, just about 1.2 km away from Igueben General Hospital.

“I think only about three of the victims are from Igueben; one of them is from Ward 8. We also had another who is married to an Igueben man but based in Warri while others are from Ekpoma, Uromi, Ubiaja, and elsewhere outside Edo State.

“The kidnappers released two children, it is believed that they felt the children will slow down their movements. They dropped them in an abandoned petrol station, they called the family of the mother of the children that they should go and pick the children from the place they dropped them.

“One woman also escaped with her little baby. The woman escaped and found herself in Opoji, which in Esan Central Local Government Area.”

Meanwhile, Atiku expressed concern over what he called the latest in the litany of shameful security breaches under the

President Muhammadu Buhari government.

A statement by the Atiku Media Office condoled with the victims of the attack and their families.

It quoted the PDP presidential candidate as saying, “The thoughts of my family and I are with the abducted and their families as we pray for their safe return…

“While we pray, it is important to also point out that this serves as the latest reminder on the urgent need to reform our security architecture to better safeguard the lives and properties of the Nigerian citizens.”

The former vice president stated that the security apparatus must pay greater attention to intelligence gathering and crime prevention than the current reactive approach.

“It is unacceptable for terrorists to plan attacks of this nature, mobilise arms and ammunition, secure funding and move large numbers of people across large spaces without detection by the security agencies,” Atiku said.

He urged the use of technology towards tracking the terrorists and “degrading their existing capacity to attack our people across the country.”

The PDP presidential candidate also advocated “applying diplomatic pressures needed to stem the free flow of light arms and assault weapons across the West African sub-region and through our borders.

“By doing this we will severely restrict the capacity for terrorists to re-arm themselves to execute attacks.”

Atiku said these policy proposals should be followed by “greatly reducing the numbers of out of school children on our streets and improving the economy to create jobs for vast numbers of unemployed Nigerians, thereby reducing the pool from which these

terrorists recruit people for their nefarious activities.”

According to him, “I believe these actions will go a long way towards reducing incidents of insecurity and providing the secure environment needed for economic growth.”

Atiku stated that he would commit to implementing those initiatives if Nigerians trusted him with their mandate to become the next president.

In a related development, Atiku said it was important to remind Nigerians that next month’s election was about the future of the country.

In a statement he signed, Atiku said the poll would be an opportunity for Nigerians to right all the wrongs that the ruling All Progressives Congress (APC) had brought upon the country.

According to him, “While we exercise our mandate in the upcoming elections, it is necessary that we reflect properly about the scorecards of both the PDP and the APC. We must avoid being overwhelmed by the deceptions of the ruling party. “Indeed, we must vote to punish the APC for their poor performance since they came to the saddle in 2015.

“We must remember, also, that February 25 is a date to recover Nigeria. I am the candidate who comes with a plan that accommodates everyone. I am the candidate who best guarantees a future of prosperity and security for our great country.

"My wealth of experience in public service and the private sector is unrivaled. As we inch towards election day on February 25, tell your friends, family and colleagues that the PDP is the best option for the country. Also tell them that Atiku is the presidential candidate who has the plan to Recover Nigeria."

INEC RELEASES FINAL LIST OF PRESIDENTIAL, NATIONAL ASSEMBLY CANDIDATES FOR POLLS nationwide as provided by section 29(3) of the Electoral Act. INEC National Commissioner in charge of Information and Chairman, Voter Education, Festus Okoye, had earlier said validly nominated candidates had the opportunity to voluntarily withdraw their candidature by notice in writing and personally deliver such notices to the political parties that nominated them for the election.

Okoye said, “Thereafter, political parties substituted such candidates under section 31 of the Electoral Act for which the last day was 15th July 2022 for national elections and 12th August, 2022, for state elections as clearly provided in item 6 of the Commission’s Timetable and Schedule of Activities.

“Thereafter, no withdrawal or substitution of candidates is allowed except in the event of death as provided in section 34(1) of the Electoral Act or pursuant to an order of a Court of competent jurisdiction.”

The list published contains the names of candidates validly nominated for national elections at the close of the parties’ primaries and the period earmarked for withdrawal and substitution of candidates.

The presidential candidates of PDP, Atiku Abubakar; APC, Bola Tinubu; Labour Party, Peter Obi; and New Nigeria Peoples Party, Rabiu Kwankwaso, were on the final list.

Similarly on the presidential list were Oluwafemi Adenuga, presidential candidate of Boot Party (BP) and the running mate Turaku Mustapha; Daberechukwu Nwanyanwu, presidential candidate of Zenith Labour Party (ZLP) and the running mate, Ramalan Abubakar; Dumebi Kachikwu presidential candidate, African Democratic Congress (ADC) and his running mate, Ahmed Mani; Hamsa Almustafa, presidential candidate, Action Aliance

(AA) and his running mate, Chukwuka Johnson, among others.

The list published contained the names of Senator Goodwill Akoabio from Akwa Ibom state and Senator Peter Nwaobishi of Delta State as well as Bashir Machina, who replaced the senate president, Ahmed Lawam.

Akpabio replaced former retired Deputy Inspector General of Police, Ekpuudom, while Nwaoboshi, who was convicted for seven years by the Court of appeal in Lagos, is also on the list.

48 Million Out of 93.5 Million Eligible Voters are Youths, INEC Reveals

INEC disclosed that youths formed the highest number of registered voters who would vote in the February and March elections. National Commissioner at INEC in charge of Information and Voter Education Committee, Mr. Festus Okoye, stated this during the commission’s engagement with identified groups on the role of the youth ahead of the 2023 general election.

Okoye said from INEC’s records, the youth held all the aces to determine the outcome of the 2023 elections.

He said out of a total of 9,518,756 valid newly registered voters between June 28, 2021 and July 31, 2022, those aged between 18 and 34 years of age were 7,286,871, representing 76.56 per cent.

Disclosing further that the total of registered voters for the general election was 93.5 million, Okoye said of the 84 million registered voters recorded for the 2019 general election, the youth population, which included males and females, was 51 per cent.

He urged the youths to ensure that they cast their votes on

election day, emphasising that it is only when they do so that they would determine who would lead them.

Okoye explained that the electoral process would be strictly technology-driven, adding that the commission has already deployed technology in all its processes.

He said, “The commission had already taken delivery of the full number of the Bimodal Voter’s Accreditation System, for the conduct of the election in the 176,846 polling units across the federation. Additional BVAS for contingencies would be deployed to the 8,809 registration areas across the country.

“The BVAS were designed to function offline, and, that only accredited voters would be allowed to cast votes on the day of the polls.

“Only registered voters, who present their Permanent Voters Cards at the polling unit, would be accredited to vote.

“Over 1.4 million ad-hoc election staff had been engaged by the commission for the conduct of the 2023 general election, and insurance policy had been secured for them against hazards of the election, especially possible attack.

“Punishment for any act of electoral offence against electoral officers has been made stiffer in the current 2022 Electoral Act (as amended) than the provisions in the previous 2010 Electoral Act (as amended).”

Okoye advised any ad-hoc staff who might not be ready to resist the temptations of election rigging antics to withdraw from conducting the exercise.

Earlier, Resident Electoral Commissioner (REC) in charge of Anambra State, Mrs. Queen Elizabeth Agwu, urged the youth to brace up for the challenges of ensuring that the election was conducted free of thuggery and any other electoral malpractices.

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

LAGOS STATE NEW YEAR THANKSGIVING SERVICE AT TBS… L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu; his wife, Dr. Ibijoke; wife of the Minister of Works and Housing, Mrs. Abimbola Fashola; Deputy Governor, Dr. Olufemi Hazmat and his wife, Oluremi during the state's New Year Thanksgiving Service at the Tafawa Balewa Square (TBS), Onikan ...yesterday

LCCI Cautions FG Against Hasty Removal of N6trn Waivers in Oil and Gas Sector Tasks government to reposition sector by implementing PIA Dike Onwuamaeze The Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government to tread cautiously with its plan to save over N6 trillion by removing tax waivers and exemptions granted to

some large enterprises in the oil and gas sector.

The LCCI also told the government that the oil and gas sector required sensitive regulatory environment to avoid disrupting investments in that sector. It advised that the government should reposition

Edo Govt Earmarks N15bn for Pension, Gratuity Payment in 2023 Edo State Commissioner for Communication and Orientation, Hon. Chris Nehikare has said the recent protest by pensioners over payment of gratuities to retirees was politically motivated.

In a statement yesterday, he said the state government paid N1 billion as gratuity to pensioners last year and has earmarked N15 billion to clear pension and gratuities in 2023.

He said, “Our investigation showed that the protest was instigated and politically motivated for a purpose, as the All Progressives Congress (APC) Presidential rally was held a day after the protest by pensioners in Benin City. They were instigated by those who caused their gratuity not to be paid to them.

“The Edo State Government under Governor Godwin Obaseki has paid pension and all the arrears of pension to those owed and those inherited as no pensioner today has been owed pension. Also gratuity of those that retired before 2016 when this present administration came on board are being paid.

“Those pensioners we are having problems with are those that retired under the Governor Adams Oshiomholeled administration, whose reckless government created this pension problem that the Obaseki’s administration is trying hard to resolve. We have been having engagement with the pensioners on the payment of their gratuity. Last year, the Edo State Government paid N1 billion as gratuity.

“We want people to know that these protesters were not telling the truth when they said no gratuity has been paid since

2011. We have started paying the arrears and budgeted another N1 billion for the arrears of gratuity being owed. Every month, the Edo State Government budgets N100 million for payment of gratuity.

This year 2023, we have budgeted N15.1 billion to pay pension and gratuity,” he noted.

He said it was not true that Edo State government was owing gratuities as N1 billion had been paid to pensioners in the state, adding that in 2023, another N1 billion would be paid to pensioners in the state.

The commissioner added, “Some of these protesters who spoke on television said their gratuity has not been paid since 2011. Oshiomhole was in government from 2011 till 2016.

Obaseki took over in November 2016. All those that protested, none retired after 2016 or 2017, but retired under Oshiomhole who refused to pay them their pension but yet made themselves available to be used as a political instrument to embarrass the Obaseki’s administration but they have failed.”

According to him, the Obasekiled government has gotten commendations around the world from experts on how effective the government has been in pension payment and also sorting out the issues of gratuity.

He noted, “We have a process of managing our resources to enable us to have a young, strong and well educated work force which are the young people of today. We have migrated them into a contributory pension scheme that takes care of their gratuity and pension when they are about to retire and they are enjoying it.”

the industry by steeply implementing the Petroleum Industry Act (PIA) in order to pave way for new investments and also encourage indigenous companies to reflate the sector with required investments.

The chamber expressed these views in a statement titled, “LCCI Comments on the 2022 Finance Bill.”

It noted that President Muhammadu Buhari withheld his presidential ascent to the proposed legislation in order to subject it to further review.

The statement signed by the Director General of the LCCI, Dr. Chinyere Almona, stated, “With the plan to exit some large enterprises from the Pioneer Status Incentives, the government can save about N6 trillion tax expenditure (waivers, exemptions, incentives granted by the government), according to the Minister of Finance, Budget and National Planning in her 2023 Budget presentation.

“But on the path of caution, we urge the government to tread conservatively in raising

tax rates, since there are new ways of rescuing some tax expenditures to add up to government revenue in 2023.

Leaving rates at their levels will not lead to a loss of revenue.

“The oil sector’s contribution to GDP through 2022 was just around 5.0 per cent but this sector accounts for over 85 per cent of foreign exchange earnings and about 50 per cent of total government revenue.

This suggests that this sector requires a sensitive regulatory environment to avoid disruptions to investments in the sector.”

The LCCI noted that with the divestments by some international oil companies from the oil and gas sector, Nigeria needed to “reposition the industry through a steeply implemented PIA to pave way for new investments and also encourage indigenous companies to reflate the sector with required investments.”

It said industry statistics revealed that indigenous companies contributed about 30 per cent of crude oil and

20 per cent of the country’s gas production, as well as 40 per cent and 32 per cent of oil and gas reserves, respectively.

The LCCI also made recommendations to the government based on the feedback it gathered from operators in the oil and gas sector and the wider business community.

It said, “We suggest retention of the Tertiary Education Tax (TET) rate at 2.5 per cent, since it was just recently increased from 2.0 per cent to 2.5 per cent. At the proposed rate of 3.0 per cent Nigeria’s corporate income tax rate would rise to about 36 per cent, which is one of the highest rates in the world, according to available research.

“Retain the 30 per cent Company Income Tax for all oil and gas companies; consider amending the Petroleum Profit Tax Act with the same provision in the PIA Section 104.

“Gas flares-out projects should be incentivised to ensure monetisation of the

resource for the benefit of Nigeria.”

The LCCI also recommended that Finance Bills should be presented for extensive stakeholders’ consultations before being passed by the National Assembly. It pledged to continue to work to mobilise the private sector to support the implementation of the 2023 federal budget.

It, however, said, “On achieving revenue targets for the budget, the MDAs and Government Owned Enterprises (GOEs) can intensify their revenue mobilisation efforts in an enabling environment where the private sector thrives.

“To achieve the laudable objectives of the 2023 budget, we urge the government to sustain current efforts toward the realisation of crude oil production and export targets by creating an investmentfriendly oil and gas industry.

Public-Private Partnerships (PPPs) are the best models to fast-track the pace of our infrastructural development.”

Diri Recounts How Bayelsa Overcame Unprecedented Flooding in 2022 Mary Nnah Bayelsa State Governor, Senator Douye Diri has explained how the massive flooding that ravaged most parts of his state in 2022 rendered residents homeless and destroyed sources of livelihood He gave the account at the annual international crusade of Lord's Chosen Charismatic Revival Ministries held at the headquarters church, along Apapa-Oshodi Express Road, Ijesha, Lagos State at the weekend.

While expressing profound gratitude to God Almighty, the governor said: “We are grateful God helped us overcome the worst time in our history in all ramifications.”

Diri said Bayelsa State went

through one of the worst challenges in the history of the state when the unprecedented flood hit the state in 2022.

He said: “People died while some were rendered homeless.

Sources of livelihood were gone but somehow, God saw us through.”

At the height of the natural disaster that ravaged the state, the governor noted that, “the General Overseer, Lord's Chosen Charismatic Revival Ministries, Pastor Lazarus Mouka called me.”

During the telephone conversation, Diri said the general overseer told him, “God is with you. Soon after the call, the flood receded and life came back to normalcy.”

He, therefore, said he was in

the church on behalf of the people of Bayelsa State to express thanks and gratitude to God for being faithful to the state in times of difficulties.

He said: “I have come today to represent my state and to join you to worship God and to return all the glory to God. I am here to worship God. “I am here to appreciate God for all He has done for my state in 2022 and what we will do in 2023. There is none like Him. We will continue to worship him all the days of our lives,” he added.

Diri pledged to worship God Almighty as long as he lives, saying no office was bigger than the office of the Almighty God. According to him, “whatever office we hold is from Him and

these offices are very temporary.

So, no man should be carried away with it.”

On the measures taken so far to eradicate erosion, Diri said: “We have budgeted for flood and erosion control agencies in our 2023 budget. We are going to constitute that agency, which will now do the planning and implementation of our policies on flood and erosion eradication.

That is the step we have taken so far.

“I bring you felicitation from the good people of Bayelsa and the government of prosperity in the state. I would like on behalf of the people of Bayelsa state to appreciate Pastor Muoka for all his prayers and support for the government and people of Bayelsa state.”

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NEWS

AT THE ANNUAL ELOY AWARDS AND CONFERENCE… L-R: Founder of L’Avyanna, Dr. May Ikeora; Founder, Eloy Foundations, Tewa Onasanya; MD/CEO, Emerging Africa Asset Management Limited, Adaku Ijara; Senior Gender and Economic Inclusion Advisory Africa at International Finance Corp, World Bank Group, Ada Udechukwu; Partner Ciuci Consulting and Co CEO Lufodo Group, Ifeoma Monye, and Head of Marketing, PZ Wilmar, Chioma Mbanugo at the annual Eloy Awards and Conference held in Lagos...recently

AuGF Charges CBN to Recover $1bn from 32 Firms for Alleged Breach of Oil Export Rules Calls for installation of modern crude measurement equipment Emmanuel Addeh in Abuja The Office of the Auditor General of the Federation (OAuGF) has recommended that the Central Bank of Nigeria (CBN) should recover over $1 billion from 32 oil firms, allegedly arising from the breach of the rules surrounding the completion of the Nigeria Export Proceeds form (NXP) .

Essentially, the NXP form gives authorised export dealers information on the goods for export, including the exporter's bank, Nigeria Customs Services (NCS), Pre-shipment Inspection Agents (PIA), among others.

It is a mandatory statutory document to be completed by all exporters for shipment of goods outside Nigeria.

In its: “Performance Audit Report on Pre-shipment Inspection and Monitoring of

Crude Oil and Gas Exports

by Ministry of Finance”, the Auditor General stressed that if ignored, the degeneration of the situation could give rise to either non-repatriation or delay in repatriation of export proceeds.

The report said that the Federal Ministry of Finance, Budget and National Planning had not fulfilled its mandate in ensuring the effective implementation of pre-shipment inspection of export of crude oil and gas.

If well implemented, this, the Auditor General said, is supposed to guarantee quality, quantity and price of Nigerian exports that conform to international standards and provide revenue assurance for Nigerians.

“CBN should fully enforce the automation of Form ‘NXP’ on its Trade Monitoring System (TMS) and set up modalities to ensure

the recovery of $1,020,969,281.12, being value of export without completion of the required NXP Forms from 2016-2020,” the report said.

To check the non-completion of NXP forms by exporters of crude oil and gas, the AuGF called on the Trade and Exchange Department of CBN to ensure adequate monitoring of Deposit Money Bank (DMB) of exporters.

While specifically listing 32 oil and gas firms as culprits, it tasked the TMS to ensure that the DMBs provide it with reports on exporters’ compliance or otherwise within 90 days’ rule on repatriation of export proceeds.

At the time of the audit which was prepared by the erstwhile AuGF, Adolphus Aghughu, the auditor general stated that the situation had continued because

the oil and gas industry regulator wasn’t sanctioning defaulters as provided by section 19(a) of the guidelines.

The document also highlighted the absence of relevant government agencies at both shore and ship side, for the purpose of ascertaining quality and quantity of crude oil and gas exports, describing it as a dereliction of duty as provided in the relevant Act and reinforced in the guidelines.

“These agencies are supposed to regulate activities at terminals and protect the interest of government among other stakeholders but relinquish their duties to service providers. The aftermath of their inconsistencies will result in loss of revenue to government,” it stated.

On the alleged non-usage of metering equipment at some export terminals, it stated

that the equipment meant to guarantee accuracy of quantity and sample collection for quality testing is either not available or sometimes used at terminals because the regulatory authority has not provided and enforced its usage where available.

“The manual method of arriving at quantity and sample collection is prone to error and could lead to inaccurate records as well as loss of revenue to government,” the AuGF explained.

In view of the findings and conclusions, it urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which has recently subsumed the Department of Petroleum Resources (DPR) to deny any exporter that defaults

in filling the form NXP export permit, as prescribed by the export guidelines.

Although the NUPRC argued in its response to the AuGF that the absence of reliable metering devices was not an industry-wide challenge, the report recommended that the regulator should as as a matter of urgency, ensure the provision of functional modern metering equipment everywhere they are needed.

It specifically mentioned Okono, Ebok and Forcados terminals, but added that all other equipment at export terminals across the country with manual or obsolete metering equipment should be replaced while there should be efficient and effective enforcement.

Senegal Raises Fuel Prices as Strain Govt Budget Abuja Disco Alerts on Increasing Destruction of Its Assets by Vandals Subsidies billion CFA francs, Trade Minister Emmanuel Addeh in Abuja Begins collaboration with security agencies

Emmanuel Addeh in Abuja Abuja Electricity Distribution Plc (AEDC) yesterday expressed deep concern over the high frequency of incidents of vandalism of its electrical assets and installations across its franchise area.

The Disco which covers Abuja, Niger, Kogi and Nasarawa, stated that the incidents have seriously impeded the company’s efforts to deliver stable and reliable power supply to its customers.

In a statement by the Chief Marketing Officer of the company, Mr Donald Etim, the management of the Disco while condemning the destruction of its assets, explained that this has disrupted some of its activities.

Following its desire to ensure improved power supply, the AEDC said it last year activated a ‘rich basket' of technical and commercial projects that would upon completion significantly improve power supply to customers and thereby enrich customer experience.

It stated that some elements of these various projects involved the procurement and installation of electrical equipment worth millions

of naira. “ Unfortunately, many of these installations are currently being vandalised across the network, causing very painful power supply disruptions, untold hardship and losses to its customers, and huge financial and reputation losses to the company. ‘‘The surge in cases of vandalism within our franchise area has become quite worrisome, especially so because these vandals lately, increasingly utilise unfathomable methods to perpetrate their criminal acts.

“This technique upgrade to their evil trade has emboldened the thieves to attack more of urban assets and installations of late, thereby affecting higher customer densities,” it pointed out.

Recently, it noted that 185 meters of XLPE underground cable was carted away at the Central Business Area, Abuja FCT, valued at over N5 million at just one location out of several others that have been similarly affected across its franchise. “The multiplier effect of these damages runs into billions of naira,” it noted.

According to him, the AEDC will never relent in its efforts

to ensure it provides adequate uninterrupted power supply, hence the company’s continued investments in network upgrades, refurbishment of faulty transformers, procurement of new transformers as well as the construction of new feeders and lines to relieve existing ones.

"On the customer side of things, we have gone mobile with our metering drive by physically taking meters out to customer cluster locations and getting them metered within 24 hours.

“There are at least 27 such locations currently operational within our franchise today, excluding our formal offices.

We have launched multiple payment channels, including USSD short codes, that allow our customers vend power at zero commission. “ We have also launched a verify-staff platform that enables customers, for their safety, to quickly verify AEDC visitors to their premises by simply inputting the said staff's identity card number into a link connected directly to our website,” it added.

Also, as part of efforts to curb the menace of vandalism on its

network, the management of AEDC said it has strengthened its collaboration with security agencies, including the Nigeria Security and Civil Defence Corps (NSCDC), the Nigeria Police, community leaders, and has even recently set up a civilian joint task force component.

“These collaborations have resulted in increased security patrol exercises, aggressive community sensitisation, several arrests and successful prosecutions. The company is also working towards deploying a remote monitoring system for locations with high incidences of vandalism,” it added.

The company called on all its customers and citizens in general, to be security conscious and immediately report all suspicious activities around electrical installations and any display of bad behaviour by AEDC staff by calling the whistle-blower phone number.

“Apprehended vandals will be made to face the consequences of their actions in line with the laws of Nigeria as no less than five vandals bagged several jail terms within AEDC franchise area last year,” it noted.

Senegal lifted prices on subsidised fuels for a second time after last year’s surge in oil to alleviate a squeeze on the government’s budget.

As of January 7, a litre of diesel cost 755 CFA francs ($1.23), up from 655 CFA francs while the price of unleaded fuel rose to 990 CFA francs from 890 CFA francs, a Bloomberg report said.

But in Nigeria despite refusing to officially review prices up and paying heavy subsidy, the price of the product has continued to rise , selling for as much as between N300 to N600 in some states.

Many Nigerians have continued to spend long hours in queues to buy fuel the product.

However, the increase was necessary to limit public spending on subsidies and redirect aid toward the most vulnerable households, Oil Minister Sophie Gladima told public broadcaster, Radio Television Senegalaise.

Government expenditures on fuel subsidies in Senegal nearly quadrupled last year to 580 billion CFA francs, according to initial estimates.

The most recent price hikes should allow Senegal to limit that cost in 2023 to about 450

Adbou Karim Fofana told French broadcaster TV5.

Like many of its neighbours, the west African country is facing a spiralling cost-of-living crisis.

Surging energy and food prices have propelled inflation above 14 per cent.

Senegal’s President Macky Sall unveiled a relief plan worth about 500 billion CFA francs in November that includes rent subsidies and price caps on many basic goods to ease pressure on millions of households.

The start of oil and gas production this year may ease some strains on public coffers.

Crude exports from the country’s offshore Sangomar field are expected to start in the second quarter, a facility for liquefied natural gas is set to come online over the following three months.

The economy will grow more than 10% this year, according to Sall.

Aside the controversy surrounding Nigeria’s daily fuel consumption figure, many industry players believe that by retaining subsidy, Nigeria is also subsidising neighbouring countries. It is believed that much of the product is smuggled across the borders.

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LAGOS AREWA ENDORSES TINUBU… L-R: Lagos State Governor, Babajide Sanwo-Olu; All Progressives Congress presidential candidate, Bola Ahmed Tinubu, and Kano State Governor Abdullahi Ganduje, at the Arewa Endorsement Rally for Tinubu held at Mobolaji Johnson Arena, Onikan, Lagos ...yesterday

Lack of Investment in Downstream Oil Sector, Cause of Perennial Fuel Scarcity, Says Pinnacle Oil CEO, Mbah Pays Buhari 'thank you' visit for inaugurating Lagos terminal Deji Elumoye in Abuja The Founder and Chief Executive Officer (CEO) of Pinnacle Oil and Gas Limited, Mr. Peter Mbah has declared that inadequate and lack of investments in the downstream of the oil and gas sector was responsible for the incessant petroleum products' scarcity being experienced across the country.

Of recent, there have been recurring bouts of petroleum products scarcity, especially the premium motor spirit (PMS), also known as petrol, across the country, leading to series of controversies and buck-passing between the regulatory agencies and petroleum marketers.

Commenting on the issue

while speaking with newsmen at the weekend, after paying a thank you visit to President Muhammadu Buhari at the State House, Abuja, the Pinnacle Oil boss attributed the cause of the crisis to a deficit of investment in the downstream sub-sector, a problem, which he said his firm, Pinnacle Oil and Gas, had started solving with the inauguration of the largest storage terminal in West Africa in Lagos last year.

Asked about the possibility of fuel scarcity easing off soon in the country, Mbah said more investments in the downstream oil and gas sector would in a matter of time end the fuel scarcity problem.

He said: "There has been a deficit of the sort of investments

Pinnacle has done in the last decades, but what we're doing right now is to address that stagnation of investments in the downstream oil and gas industry.

"As you know, this is an investment size of about $1 billion. So we are expecting to see more of such investments because what the Pinnacle has done is to create some efficiency in the supply and distribution value-chain of the downstream sector.

"So we are indeed expecting that more investment in the downstream sub-sector would completely eliminate the sort of scarcity you are witnessing today".

On why he came in the company of the Chairman of

Pinnacle Oil and Gas, who is the Emir of Bichi Kingdom in Kano State, Alhaji Nasiru AdoBayero, to see the President, Mbah said it was to appreciate Buhari for inaugurating the company's huge facilities at Lekki, Lagos State, in October, 2022.

According to him, the facilities' activities had lowered costs and improved the distribution of petroleum products to many areas in the country while also easing traffic in the Apapa area of Lagos and had provided valuable job opportunities for many Nigerians.

"We, Pinnacle Oil and Gas Limited, have come here today to express our profound gratitude and our heartfelt

appreciation to Mr. President.

"You will recall that on the 22nd day of October, 2022, Mr. President inaugurated our storage terminal, adjudged to be the largest storage terminal in West Africa, with offshore intake facilities, also adjudged to be the deepest intake facility in the entire Africa, sitting at a water depth of 23 meters.

"So we do have SPM and CBM. Those are the offshore facilities we have. Those facilities have the capability to in-take the largest vessels you can imagine and discharge over 100 million liters of clean petroleum products within 24 hours. This is typically what takes the industry 30 to 32 days to discharge.

"So we have largely come

here today to express our gratitude to Mr. President for the honour he gave us in inaugurating this largest facility, which has actually changed the face of the industry, because it has eased, as you know, this facility is located at the Lekki Free Zone, just by the Dangote Refinery,” he said.

Mbah added: "So what it has done, it has eased the congestion and the gridlock we have at the Apapa area in Lagos. It has also reduced the costs of supply and delivery of petroleum products in different parts of the country. It has also provided jobs for teeming unemployed Nigerians.

"So this is why we thought it necessary to come and say thank you to Mr. President."

Raymond Dokpesi Allegedly Arrested in London by UK Police

PDP Dismisses 'Sick Rumour', Says Atiku in London on Invitation of British Govt

The founder of DAAR Communications Limited, Chief Raymond Dokpesi has been allegedly arrested by the Police in the United Kingdom, THISDAY learnt yesterday.

A source who confirmed the development, said the former Chairman of DAAR Communications was arrested at Heathrow Airport in London.

The reasons for the arrest of the media mogul was unknown as at press time.

The Economic and Financial Crimes Commission in Nigeria had in 2015, dragged Dokpesi to court and had accused him and his company of illegally receiving funds considered as proceeds of crimes from a former National Security Adviser (NSA), Colonel Sambo Dasuki.

Chuks Okocha in Abuja and John Shiklam in Kaduna

He pleaded not guilty to the charges and went further to file a no-case submission after the prosecution closed its case in November 2018 after calling 14 witnesses.

However, the trial judge, Justice John Tsoho, rejected the no-case submission and ordered Dokpesi and his firm to enter their defence.

Not satisfied, the defendants then approached the Court of Appeal, with a request to nullify the decision and free him from the charges on the grounds that the prosecution failed to establish a prima facie case against them.

But the Abuja Division of the Court of Appeal had discharged Dokpesi, from the N2.1 billion fraud charges brought against him by the EFCC.

Makarfi urges members to unite to make party’s victory easier in Kaduna

The Peoples Democratic Party (PDP) Presidential Campaign Council, has refuted reports that the presidential candidate of the party, Atiku Abubakar, was sick and flown to Dubai, instead, it said Atiku was in London on the invitation of the British Government.

This is as a former governor of Kaduna State, Senator Ahmed Makarfi, has urged members of the party in Kaduna to unite so as to make the job of defeating the ruling All Progressives Congress (APC) in the state much easier.

Reacting to the "sick rumour" doing the rounds, one of the spokesperson and Director, Public Affairs PDP Presidential Campaign

Management Committee, Senator Dino Melaye, said the British government invited Atiku Abubakar as it had earlier invited the presidential candidates of the APC, Bola Tinubu and the Labour Party, Peter Obi. He said presently, Atiku was in London not Dubai as being rumored in some quarters.

According to the statement

by Melaye, "Disregard the lies of unrepentant liars. Atiku is 100% fit and in super form healthwise.

The British Government invited the leading presidential candidate, Atiku Abubakar, just like they had invited Bola Tinubu and Peter Obi earlier.

"Nigerians should henceforth disregard drug induced statements propelled by Ikebe super like online medium."

On his part, Makarfi, who is also a former national chairman of the PDP spoke while receiving APC decampees in Saminaka, Lere Local Government Area of the state, during a week-long tour of LGAs by the PDP governorship candidate, Hon. Isa Ashiru.

He urged Nigerians to vote the PDP in order to rescue the country from further destruction by the APC. Also, addressing the decampees, the PDP governorship candidate, called on those yet to collect their Permanent Voter Cards (PVCs) to do so, pointing out that without the PVC, they would not be able to effect the change they desired.

He said, “Nigerians have suffered so much from poverty, and insecurity brought upon them

by the APC and are anxious for change. The PDP is your best option for the change you are yearning for in Kaduna and Nigeria as a whole.

“But the change can only be effective when you have your PVCs.The PVCs are being distributed at designated places

by INEC, ensure that you go and collect your PVC. The PVC collection centres are opened between 9am and 3pm daily.”

Ashiru has been on a weeklong tour of LGAs in Kaduna South and Kaduna Central Senatorial Districts to seek the support of traditional rulers.

He was accompanied on the tour by Makarfi, the state chairman of the PDP, Mr. Hassan Hyet and other top shots in the party.

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NEWS

THANKSGIVING SERVICE FOR ARMED FORCES REMEMBRANCE DAY...

L-R: Alake and Paramount Ruler of Egbaland, Oba Adedotun Gbadebo; Akarigbo and Paramount Ruler of Remoland, Oba Babatunde Ajayi; Governor Dapo Abiodun and his Deputy, Engr Noimot SalakoOyedele at the Thanksgiving Service for the Armed Forces Remembrance Day held at St. Peters Cathedral Church, Ake, Abeokuta...yesterday

Edo Govt Rejects Tinubu’s Stereotyping of State’s Youths as Yahoo Yahoo Fraudsters Insists ‘Edo no be Lagos’ Declares comment insult on hardworking Edo people Warns Tinubu to steer clear of matters too exalted for him

Oluchi Chibuzor The Edo State government has described as sacrilegious, unacceptable and condemnable last week’s comments by the presidential candidate of the All Progressives Congress (APC), Bola Tinubu, during a campaign rally in Benin City, that he would turn Edo youths, “yahoo yahoo boys” to experts in manufacturing and creation of chips.

Special Adviser to the Governor on Media Projects, Mr. Crusoe Osagie, stressed that the APC candidate’s comments at the rally that took place at the University of Benin Sports Complex was in bad taste and should be condemned by any right-thinking member of the society.

The APC presidential candidate had at the rally in the state promised to transform advance fee fraudsters, otherwise known as “Yahoo boys,” by creating technological hubs for them, if elected in next month’s poll.

But Osagie stated, “The Edo State government strongly rejects the negative stereotyping of Edo youths by the presidential candidate of the APC, Bola Ahmed Tinubu, who made a blanket comment, painting our hardworking youths in bad light as fraudsters at the campaign grounds.

“It is rather troubling that

among the socio-economic issues that Nigeria is faced with, including rising inflation and exchange rate crisis, all that the APC presidential candidate can think of speaking to in Edo is the issue yahoo yahoo boys. Yahoo yahoo, as is well known, is a reference to internet fraud. By consequence, Tinubu sees all Edo youths as internet fraudsters.”

Osagie added, "It is, indeed, curious that Tinubu, at different points in his campaign trail has met with youth groups and also held town hall meetings

with them but at no time did he make reference to them as yahoo yahoo boys.

“To be specific, Tinubu has held town hall meetings with youths in Lagos and Abuja. He did not mention yahoo yahoo in these gatherings. Why is it that it was when he got to Edo State that he thinks it appropriate to profile youths in the state as internet fraudsters? So we see through his gimmicks and we reject the negative tag.

“We take an exception to this false characterisation and

demand that he withdraws this comment. There is a plethora of other issues that bedevil the country that should have agitated the mind of a serious presidential candidate. However, he picked on the youths to make such a dark and demeaning comment.

“Tinubu’s comment desecrates our land and what we stand and live by. Edo youths are honest and engage in legitimate ventures and their genius is celebrated the world over.”

Osagie also noted that no matter how hard Tinubu tried to

sell himself in Edo State, “Edo is not Lagos, as we say in local parlance: ‘Edo No Be Lagos.”

“During the governorship election in 2020, we made it abundantly clear that ‘Edo is Not Lagos’ as the people stood steadfast to reject the candidate of the APC and the Lagos godfather at the polls.

The same fate will befall the APC and Tinubu in the elections this year.”

He also noted that Tinubu’s comments regarding the returned artifacts and the reference to

the Omo N’Oba N’Edo Uku Akpolokpolo, Oba Ewuare II, the Oba of Benin were in bad taste, warning the candidate not to drag the monarch into his troubled narratives.

The statement said, “Tinubu should not poke his nose in matters that are too exalted for him. The revered royal monarch is too regal and respected to be dragged into politics by the unworthy mouth of Tinubu. We respect our monarch and would expect that others accord him equal regard.”

SERAP Urges Buhari to Reverse Alleged Electricity Tariff Hike Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to direct the Minister of Power, Goddy Jedy-Agba and the Chairman/ CEO, Nigerian Electricity Regulatory Commission (NERC), Prof. James Momoh to immediately reverse what it termed as the unreasonable increase in electricity tariff, which reportedly occurred in December 2022.

SERAP also urged the president to ensure the investigation of the spending of public funds as ‘investments and bailouts’ by successive

governments to electricity distribution companies (DisCos) and generating companies (GenCos) since 2005, and prosecution of cases of corruption and mismanagement.

Following the reported approval by NERC, electricity tariffs were increased across DisCos in the country in December 2022. Several prepaid customers had reportedly confirmed the increase. Both the Minister of Power and NERC have refused to confirm or deny the increase.

However, in the letter dated January 7, 2023, and signed

by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said the increase in

electricity tariff would exacerbate the extreme poverty across the country and undermine the ability of millions of Nigerians to satisfy basic human needs.

SERAP said the increase in electricity tariff failed to follow due process.

“It is entirely inconsistent and incompatible with the provisions of the Nigerian Constitution of 1999 (as amended), the Electric Power Sector Reform Act and the country’s international human rights obligations,” it stated.

According to SERAP, millions of Nigerians continue to live in darkness despite the spending by successive governments of trillions of naira as investments and bailouts to electricity

companies.

The letter, read in part: “the increase is unjustified, especially given the unreliable, inefficient and poor quality of electricity in the country. Rather than providing electricity discounts to poor Nigerians, successive governments continue to give bailouts to electricity companies.

“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.

“Your government should

have used the report by the National Bureau of Statistics (NBS), which shows damning revelations that some 133 million Nigerians are poor as a basis to improve access to regular electricity supply, and extend electricity to remote rural households.

“The latest increase in electricity tariff is coming on the heels of the NBC report which shows that over half of the population of Nigeria are multi-dimensionally poor and cook with dung, wood or charcoal, rather than cleaner energy. High deprivations are also apparent nationally in sanitation, time to healthcare, food insecurity, and housing.”

APC Rounds off Ward-to-Ward Campaign in Gombe Segun Awofadeji in Gombe After going round more than 100 wards in 10 local government areas of Gombe State, the All Progressives Congress (APC) campaign rallies culminated into a grand road show in Gombe metropolis.

Governor Muhammed Yahaya's campaign train took off at the APC Square along Bauchi Road and pulled through the mammoth crowd of supporters and wellwishers in their thousands, cheerfully hailing and expressing

their unflinching support to the governor and other APC candidates.

The rally went through Jekadafari, Sabon Layi, Union Bank Round About; Main Market, Idi to Gombe Emir's Palace through Shehu Abubakar Road traversing 8 of the 11 wards of Gombe LGA. Yahaya made a stopover in Bolari East Ward along Biu Road to commission Gombe Local APC Secretariat.

Gombe Emir's Palace was the last area for the governor

and members of his campaign team where they paid homage on the Emir of Gombe, Alhaji Abubakar Shehu Abubakar III as well sought his support and prayers for the success of the movement.

While receiving the governor, the Emir, who is the Chairman Gombe State Council of Emirs and Chiefs said he was always happy to identify with the governor because of the positive development he brought to the state.

He described the visit as home-

coming, saying the governor needs not campaign at the palace because he also belongs there.

The royal father testified that the governor has fulfilled his 2019 campaign promises.

He extolled the governor's visionary leadership and development drive in executing meaningful projects that have direct bearing on the masses.

The Emir specifically commended some legacy projects of Yahaya-led administration, which he said would stand the test of time.

He mentioned Network 1100, Rehabilitation, Upgrade and Expansion of Gombe Regional Water Supply Scheme, Muhammadu Buhari Industrial Park, establishment and revitilisation of primary, secondary and tertiary health facilities, building and renovation of classrooms, Gombe State Contributory Health Scheme, Go-Health, the Gombe Goes Green project, security, among others.

"We thank you most sincerely for building Gombe of our

dream. Gombe is now a model; we are excelling in all facets of development."

In his remarks, the governor thanked the Emir for his support and fatherly advice which he said contributed immensely to the success of his administration, maintaining that custodians of traditional institutions would continue to receive such attention and support from his administration in view of the central role they play in leadership and preservation of cultural values.

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Acting Group Politics Editor DEJI ELUMOYE

POLITICS

Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

M O N D AY D I S C O U R S E Makinde’s Fate Hangs in the Balance over Opposition to Atiku Kemi Olaitan reports that a member of the G-5 Group of the Peoples Democratic Party, Governor Seyi Makinde of Oyo State, may be in for a big challenge for second term over his refusal to support the presidential candidate of PDP, Atiku Abubakar

Makinde

S

ince the former Vice President Atiku Abubakar emerged the Peoples Democratic Party (PDP) presidential candidate at its national convention held last year May in Abuja, Governor Seyi Makinde of Oyo State has been part of a group within the main opposition party that has drawn a battle line against the national leadership and refused to be part of the campaign train of the Waziri Adamawa.

The group tagged, “Integrity Group” comprising the G5 Governors led by Nyesom Wike of Rivers State; Samuel Ortom of Benue State; Okezie Ikpeazu of Abia State; Ifeanyi Ugwuanyi of Enugu state and Makinde, alongside other notable leaders such as former governors and former Ministers, have been unyielding in their demand for the National Chairman of the party, Senator Iyorchia Ayu, to step aside for the position to be fill by a member of the party from the Southern part of the country.

For political observers in the state the events of last week which culminated in prominent elders and members of the party coming out openly to declare their support for Atiku and does not be on the same page with Makinde with the presidential elections just few weeks away may have set a stage for confrontation against the governor who himself will be on the ballot for the second time during the March 11, 2023 governorship poll.

The political drama which exposed that Governor Makinde was threading on a dangerous past began last Tuesday when loyalists of the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, in the state, led by a former Minister of Mines and Steel, Elder Wole Oyelese, converged at the Nigeria Union of Journalists (NUJ) Press Centre, where they declared their intention to stage a walk in support of Atiku the following day (Wednesday).

Oyelese who spoke on behalf of other leaders revealed that the walk tagged, ‘Freedom March for Atiku’, will have supporters from across the state assembling at the Total Garden area of Ibadan, the state capital, from 8 am with the procession marching to the ancient Mapo Hall where prominent members of the party will give speeches and justify to members of the public why they should vote for the presidential candidate of the party on February 25.

His words, “Members of PDP in the state and beyond are embarking on a march in support of the presidential aspiration of Alhaji Atiku Abubakar, our presidential candidate and by the grace of God the incoming president of Nigeria.

The march which will have supporters from across the state assembling at the Total Garden area of Ibadan from 8am tomorrow morning with the procession marching to Mapo Hall where prominent members of our party will

Atiku

give speeches and justify to members of the public why they should vote for Atiku Abubakar on February 25, 2023, when the presidential election will take place.

“As you all know, PDP is the strongest and the most popular party in Oyo State and indeed Nigeria and we have no doubt that our party will sweep all the elective positions in the forthcoming 2023 general elections.

Atiku Abubakar won in Oyo State in the 2019 presidential election polling 366,690 votes to defeat the All Progressive Congress (APC)’s candidate, President Muhammadu Buhari, who scored 365,229 votes and he will win it again next month with a wider margin.”

Other leaders present at the press briefing, include a former Minister of (State), Federal Capital Territory (FCT), Oloye Jumoke Akinjide, former Deputy Governor of the state, Alhaji Hazeem Gbolarumi, Mr. Femi Babalola and Dr. Abiodun Raufu.

While there was apprehension that the walk may be stopped as some observers believed that those close to Makinde may see it as an attempt to ridicule the governor, the walk held with mammoth supporters of the party participating.

Former Minister of State, FCT, Oloye Akinjide, while addressing the crowd at the historical Mapo Hall where the walk terminated, said the entire Oyo State is for PDP, urging the residents to vote all PDP candidates across board to ensure flow of dividends of democracy.

She added that when Atiku becomes the president, Oyo State will be number one beneficiary of

the former Vice President’s presidency, warning however that people should not listen to anyone who wants to denigrate or talk down on the party’s presidential candidate referring to members of the PDP G-5.

She said, “Tomorrow (Thursday), we shall flag off Governor Seyi Makinde’s second term campaign, but some visitors are coming and if they want to disparage Atiku, we shall say No.” Also former Deputy Governor of the state, Barrister Gbolarumi, pleaded with the electorate to vote Atiku and avoid fighting anybody, stressing that there was no reason for PDP members to fight one another as, according to him, only people who was trying to prevent them from supporting PDP deserved to be fought.

“In whatever party you find yourself, your personal interest should be paramount. In this PDP, we shall not labour in vain.” Gbolarumi said.

Also speaking, Oyelese said only Atiku has the wherewithal to rule the country out of all presidential candidates, lamenting that there is hunger and suffering in the land and that the country does not deserve an apprentice president who would use the first term to learn the rope.

The climax of the political drama in the pace setter state was to happen last Thursday at the official launch of Governor Makinde’s second term bid,at the Mapo Hall, Ibadan.

The rally which was well attended by party members from within and outside the state that included members of the G5 Governors group, who came to honour one of their own, and hundreds of thousands of citizens, saw shouts of the PDP’s presidential candidate’s name, Alhaji Atiku Abubakar, renting the air, to the embarrassment of the governors including Makinde.

When the governors in their speech asked supporters of the party to vote other candidates of the party, to the exclusion of the former vice

Indeed it remains to be seen whether Governor Makinde can afford to toy with the support of members of the PDP in Oyo State who are disenchanted with him for still following the path of the Integrity Group when his own election would be two weeks after that of Atiku. For political analysts however, whatever would become of the political ambition of Makinde, the businessman turned politician in a state that has had prominent politicians such as late Alhaji Lam Adesina and Senator Rasheed Ladoja, at the helms of affairs, would unfold in matter of weeks

president, the crowd reacted swiftly in open resistance with the deafening cries of “Atiku”, an action which observers see as a major blow to the G-5 Governors.

Benue State governor, Samuel Ortom, while probably seeing the mood of the crowd, was to disclose that contrary to the widely held belief that the five governors were working against the PDP, the group was still committed to the party. He said they (the governors and other members of the Integrity Group) were working round the clock to ensure that PDP won all elections in their respective states in the forthcoming polls.

Ortom stressed that the problem of PDP at the national level was being prolonged by the failure of the party’s leadership to deploy its internal conflict resolution mechanism to settle issues that arose after the national convention.

Ortom who was full of praises for Makinde’s commitment to the development of Oyo State, expressed optimism that the people of the state would return him for a second term.

He thanked the people of the state for their support for PDP and Makinde, pointing out that their massive turnout at the campaign flag-off was an indication that the election in March was a done deal for the party, stating that the G5 governors’ decision on the presidential candidate to support would be made public “at the appropriate time”.

Ortom said, “We have challenges with our national leadership. They have failed to resolve the internal crisis in the party arising from the party’s national convention. We shall make our resolve on this known at the appropriate time.”

He, however, asked the people of Oyo State to compensate Makinde with their votes for his good performance in the past three years and seven months by re-electing him in the March 11 poll.

Wike, who is the leader of the group, on his part, said the people of Oyo State should await the directive of Makinde on who they should vote for in the February 25 presidential election, stating that as far as he was concerned, there was no other political party in Oyo State apart from PDP and the only way for the people of the state to appreciate Makinde was to vote for him.

But the Rivers State governor was to incur the wrath of the people when he said, “Vote for Seyi, vote for the House of Representatives, vote for the House of Assembly. The other one, Seyi, would talk to you. No be so?”, as the crowd in response, started shouting, “Atiku, Atiku, Atiku”, even despite the intervention of Makinde who mounted the podium to douse the tension.

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

17

T H I S D AY ˾ MONDAY JANUARY 9, 2023

MONDAY DISCOURSE

Will Obasanjo, Others’ Endorsement of Obi Translate to Vote?

Emameh Gabriel asks if the recent adoption of Labour Party’s presidential candidate, Peter Obi, by former President Olusegun Obasanjo and elder statesman, Chief Edwin Clark, among others, can translate to vote for Obi during the February 25, 2023 presidential poll.

Obasanjo

F

ormer President Olusegun Obasanjo has once again attempted to flex his political influence as he officially threw weight behind Labour Party’s presidential candidate, Peter Obi, as the best man fit to be Nigeria’s next president.

Obasanjo was also joined by Niger Delta statesman and leader of Pan Niger Delta Elders Forum (PANDEF) Chief Edwin Clark and Governor Samuel Ortom of Benue State, who all gave the former Anambra State governor a pat on the back.

The endorsements came just few days after Anambra born-business billionaire, Prince Arthur Eze, condemned Obi’s ambition of becoming the next president of Nigeria after, President Muhammadu Buhari in May, 2023.

Eze, who spoke at the occasion of the 2022 Ofala festival of HRH Igwe (Dr.) Robert Eze, the traditional ruler of Ukpo in Dunukofia local government area of Anambra State, revealed that he warned Obi to drop his ambition, but he wouldn’t listen.

He explained how he advised Obi to wait for next time after however listening to him lists the number of states he thought he would win.

Their endorsement of Obi was greeted with mixed reactions just as it has left Obi’s critics and other candidates in the race occupied with reactions and attacks on Obasanjo, specifically.

In the six-page letter, dripping of passionate expression that appeared genuine to rescue a nation he claimed was sinking, Obasanjo anchored his endorsement of Obi on four key reasons namely Track record of ability and performance; vision that is authentic, honest and realistic; Character and attributes of a lady and a gentleman who are children of God and obedient to God; and physical and mental capability with soundness of mind.

While Ortom and Clark have both described Obi as the best candidate to manage the country, for Obasanjo, the endorsement presents a test of whether the former president’s influence on the electorate or major political stakeholders has diminished after failing to dislodge incumbent President Muhammadu Bubari in 2019.

His move has also raised questions in some section of the public whether it was borne out of patriotism or his usual inordinate attempt to settle scores.

Nevertheless, the endorsement by Obasanjo, Ortom and Clark of the Obi’s presidential ambition is no doubt a potential boost for the Labour Party’s presidential candidate, indicating that his public appeal has not diminished as against the perception in some quarters.

Yet many believe that these persons have no political value to influence the outcome of next month’s presidential election.

The ruling All Progressive Congress and its presidential candidate has described Obasanjo’s endorsement as ‘worthless’, saying the APC candidate, Bola Tinubu, will not lose sleep over Obasanjo’s action, because the former president is a “political paper weight” who had not successfully made anyone win election in Nigeria.

Also, the Atiku/Okowa Presidential Campaign Organization said Obasanjo’s subjective support for Obi was his personal wish, which does not reflect the opinion or position of overwhelming majority of Nigerians across

Obi

the country.

In fairness, Obi’s candidacy has changed the status quo. It has harvested a lot from the two major political parties, especially the main opposition PDP where Obi harvested most of his supporters from.

Obi, who has been in the news in recent time for different reasons; either being commended, supported or condemned or being criticized over his quest to lead Nigeria from consumption to production, remains more of a threat to Atiku than he is to Tinubu whose party has better internal cohesion and also controls over 20 states across the country.

For the first time since 1999, three or more political parties are showing strength in a presidential race and Peter Obi appears to enjoy more support from the youth demography.

His nationwide appeal was boosted by the backing of prominent defectors and key endorsements. His key asset in the north is his running mate, Baba Ahmed-Datti and he has said that he is in the race to win.

In 2015, Obi was the running mate of former vice president Atiku Abubakar, on the platform of the main opposition People’s Democratic Party, who is still today the flag bearer of the party.

He left the PDP to test his popularity when he realised that his former party declared its presidential ticket open as against a zoning arrangements that could have seen the ticket zoned to the South.

The Labour Party’s candidate has promised a clean break from the past. Obi, a former Governor of Anambra State has challenged his opponents to come out with anything incriminating against him as a former governor. He has

Clark

promised to withdraw from his campaign if they could come out with one.

Although Obi lacks some of the key ingredients to win a presidential election, across the country, his candidacy has continued to gain wide popularity, among ordinary Nigerians and political elite alike.

Obi’s growing acceptance has also brought the Labour Party into limelight, and has campaigned as a true democrat, vowing to root out corruption, invest in education, revive the economy, fight insecurity, move the country from a consuming nation to a productive one.

Obi has promised to negotiate with every agitating groups in the country, including Boko Haram and IPOB to end agitations which he said were parts of the factors fueling insecurity in some parts of the country.

The electorate who are worried about corruption, insecurity and the economy have taken him for his words, making him the first Nigerian to successfully marshal and sustain a Third Force movement that has failed consistently in the past.

His supporters have argued that his mandate is secured because his support is organic. They have also argued that the very attributes that won the hearts of Nigerians are that he is prudent with public resources, he has good track records as a governor and he is a successful businessman who will do better as a president.

However, beyond the endorsement of the godfathers and the goodwill he enjoys today, Obi is faced with tough challenges going into the election.

Obi’s critics have not only questioned his performance as governor of Anambra State, they have also raised questions about his slim chances to compete favourably with the two major political parties, the ruling All Progressive Congress (APC) with former Lagos State Governor, Bola Ahmed Tinubu as its candidate and former vice president Atiku Abubakar as candidate of the main opposition Peoples Democratic Party.

Former Kano State Governor, Rabiu Kwankwaso of the New Nigerian People’s Party (NNPP) is also standing in Obi’s way, especially in the North where Obi has slim or no chance to flex his political muscle.

Reacting to Obi’s latest endorsements, elder statesman, Tanko Yakasai, described

With less than 50 days to the presidential election, Obi needs more than miracle to outplay money bags like Tinubu and his former principal, Atiku, both of whom have all the support of the state governors to win the presidential election.

The political elite in the five Eastern states are not lining up behind Obi. Two of the governors of the zone are with the PDP, while another two are with the ruling APC. The governor of Obi’s home state, Anambra, Charles Soludu, like Author Eze, has openly declared that Obi stands no chance to win the presidential poll

Obasanjo’s endorsement of Obi as insignificant and maintained that Obi is not among the two major contenders in the race.

Yakasai said, “Obasanjo’s endorsement is insignificant. The 2023 contest is a race between two top contenders, and even the gap between the major contender is so wide that no one will waste his or her vote on a contestant that is far far behind these big two.

“And whoever chooses to elect somebody that has no significance in the race knows too well he or she has wasted his or her vote.

“Obasanjo might have his reasons, but it will certainly not count on the February election.

The contest is zeroed to two contenders, so Obasanjo endorsement is clearly insignificant,” Yakasai maintained.

On his part, former External Affairs Minister, Prof. Bolaji Akinyemi, also slammed Obasanjo, asking him to go home and allow the peace of the nation Akinyemi reminded Obasanjo that he has had his tenure hence he should go home and just be quiet.

He described Obasanjo as part of the country’s problems, therefore should not come and presents himself as a problem solver.

His words: “Please don’t let us spend time on General Obasanjo’s letter or ideas because some of us believe that he also is part of the foundation of the problems that we have in this country, and one of the things that I have said is that once you have occupied that post of President and you have served your term, please go home and be like General Gowon, be like General Abdusalam, just be quiet.

“You’ve had your term and let others get on, but for you to create problems for us and then you come back and you present yourself as a problem solver, I find that difficult to swallow”.

THISDAY gathered recently that more prominent Nigerians have concluded plans to declare support for Obi but that would depend on what pans out from ongoing talks among some party’s stalwarts within the two major political parties, the APC and the PDP. “This is just the beginning. They (the APC and the PDP) will soon know what is before them. More are coming and this time, they will understand what Nigerians are saying about them, National Chairman of Labour Party, Julius Abure, told THISDAY in a telephone interview.

With less than 50 days to the presidential election, Obi needs more than miracle to outplay money bags like Tinubu and his former principal, Atiku, both of whom have the support of all the state governors to win the presidential election.

The political elite in the five Eastern states are not lining up behind Obi. Two of the governors of the zone are with the PDP, while another two are with the ruling APC. The governor of Obi’s home state, Anambra, Charles Soludu, like Author Eze, has openly declared that Obi stands no chance to win the presidential poll.

If nothing changes between now and February, 2023, Obi will go into the presidential election with no formidable state structure, unreliable army of youth who have no voting experience, many of who are ready to sell their votes to the highest bidder, and many other factors that may play against his chances.

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T H I S D AY ˾ DAY ͷ˜ 2023

FEATURES

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

Unending Pains of AilingVictims of Lagos Building Collapses (I) Tracing survivors of building collapse in Lagos in recent times, Omolabake Fasogbon reports how the state government reneged on its promise to fully fund medical bills of victims, leaving them to cope alone with their respective vulnerable health conditions after the accidents enabled by weak regulatory agencies

Hassan

R

eturning to Itafaaji community, Lagos Island, three years after the ill-fated building collapse that brought its to limelight, a few infrastructural developments have taken shape in the community.

The road leading to the relatively busy area, predominantly occupied by traders is now tarred, bubbling with new constructions that make the area a toast of investors.

A construction activity was ongoing at 63, Massey Street, site of the collapsed building now taken over by the government in line with Chapter 59 Section 74 of Lagos Urban and Regional Planning Development (URPD) Law of 2010.

The provision states that in the event of the collapse of any property or structure due to negligence on the part of the owner, such property shall be forfeited to the state government after due investigation and/or publication in the state official gazette.

A trader opposite the building told this reporter that the local government is building school blocks on the site to compensate community members for the collapse.

Itafaaji collapse described by experts as one building collapse too many, would not be forgotten in a hurry, given the number of casualties including school children who died in the accident.

Investigation showed that the building was marked distressed in October 15, 2015, and should have been removed by government after 21 days. This is in line with section 71 of Lagos URPD Law 2019. But the house was left for another four years before it finally collapsed on March, 13 2019.

Further findings also showed how caterpillar battered the foundation of the house during a drainage construction in Massey street, thus, strengthening its level of weakness. .

Failed Promise Though the tragedy happened three years ago, many are yet to heal from the trauma.

The situation is particularly worse for survivors still battling complicated health challenge because they could not afford hospital bill.

When the accident happened, the

Nine -year -old Joshua with implant overdue for removal

former Governor, Akinwunmi Ambode instructed that full medical care be provided for the injured ones at no cost.

Speaking on behalf of the governor, the former Lagos state Commissioner for Health, Dr Jide Idris said, “Lagos state is offering comprehensive healthcare to the victims at no cost. This is the least we can do at this time to ameliorate the suffering and trauma being experienced by the affected families."

More than three years after the collapse, that promise is yet to be fulfilled.

During investigation, this reporter found out that many victims are yet to regain their health, partly due to the dysfunctional state of the healthcare system in Lagos, and mainly government’s neglect.

This reporter visited the house of one of the parents of the survivors, Mrs Ogunsanwo who lives just behind the ill-fated building in Itafaaji Mrs Ogunsanwo’s two grandchildren, Joshua, 9 and Daniel, 23, were among those dragged out almost lifeless from the debris of the collapsed building. The two youngsters could only work after several surgeries.

Seeing this reporter, Ogunsanwo was warm, thinking a customer had arrived to patronise her charcoal business. But when she got know about the reporter's mission, she became disinterested.

Ogunsanwo's letter seeking help to remove implant in Joshua and Daniel's leg

"If it's about the collapse, I don't want to talk to anybody again,” she retorted.

Upon being persuaded, she let out a flurry of feeling. “I’ve talked and talked and nothing has happened. I think some people are still feasting on the collapse because they come with the intention to help, they will even take pictures with us, and they don't come back".

She reluctantly called out the young Joshua from where he was playing with his peers. The boy had only his pants on so it was easy to spot a straight stitch that extends from his lap to his leg. As he limped towards his grandmother, Ogunsanwo said, "Can you see how he walks, can you see the stitch, this is what I've been nurturing for more than three years.”

Ogunsanwo said Joshua was already suffering from another complication that got worsened because of the injury he sustained in the collapse.

She said the orthopedic surgeon in Gbagada General Hospital where they had the surgery, requested that both Joshua and Daniel be brought back in 2021 for another surgery to remove the metal implants in their legs.

She said a nurse already hinted her to prepare N200, 000 for the surgery and not expect it to be done free as government promised. By 2021 when they were due for the surgery, Ogunsanwo said they were charged for the operation which cost had already doubled.

A letter of Financial Assistance addressed to the Chairman of Lagos Island East, Muibi Alade Folawiyo, and sighted by this reporter, showed that Ogunsanwo now needs N850, 000 for their surgeries denied by government.

"Where am I supposed to gather that

It was that bad that my treatment was usually suspended till we gather money for the next injection or diagnosis.

Even nurses rallied support for me when they realised I was a disaster victim. They lamented that my case was not taken up as that of Endsars victims whom they said got first-class treatment at no cost

money? You can see what I'm selling,” pointing to her charcoal wares.

“How much do I make from this, the whereabouts of their mother is unknown and their father is unemployed, “she lamented.

Ogunsanwo recalled that after the collapse, government promised full treatment at no cost for all the injured survivors, but the story changed when they got to the hospital.

“Immediately we were admitted, a nurse had hinted us not to rely on government promise, that they were merely paying lip service to save face from criticism. True to what the nurse said, we bore half of the bill throughout our stay. Where we were expected to buy four drugs, we paid for two".

In retrospection, Ogunsanwo regretted compelling Joshua to go to school on the fateful day.

“He insisted he didn't want to go but I forced him against his wish. He perhaps had a premonition of what would happen. Look at me now, where do I gather N850, 000? Please, help beg government to come to my aid. I've cried out but no one is answering”, she groaned as tears coursed down her face.

She said she has lost count of how much she has spent, stressing that she was yet to repay the loan she obtained to settle medical bills of the two children.

As evidence, Ogunsanwo showed our reporter a pile of receipts of payments she made while in hospital.

Medical experts say where implant has overstayed in the body of a child, such could result in skeletal growth hitch and bony ingrowth that could make removal technically difficult or impossible.

For Doctor's Error During Surgery, Hassan’s Health Deteriorates, Denied Corrective Surgery Jamiu Hassan, 36, rarely passes urine but blood since rubble from the Itafaaji building collapse hit his pelvic area.

He was diagnosed with Pelvic Trauma with Urethral Injury. He later underwent a surgery that was allegedly done badly, thus requiring a repeat surgery.

The Director, Clinical Service and Training/ CMAC, Prof Adebowale Continued on page 19

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T H I S D AY ˾ DAY ͷ˜ 2023

FEATURES

Unending Pains of Ailing Victims of Lagos Building Collapses (I)

Infographics on Building Collapse

Adekoya, however, in a report claimed that Hassan had developed Obstructive lower Urinary symptoms after first surgery in October 2020.

As a result of the alleged surgical error, Hassan is forced into celibacy. He has also been rendered unemployed and now depends on his wife for economic support and for the care of his two children.

He would need corrective surgery to be well again, but government has denied him, despite promise.

Hassan said government’s failure to approve the surgery originally billed for April, 2021 had stalled it.

"I have lost count of my visit to the Welfare Department of the Ministry of Health to get approval but they keep asking me to come back,” he said.

But according to Barr. Laolu Osanyin, a Medical lawyer, Hassan can sue for medical negligence where a surgical error is established.

A letter which Hassan's wife, Shakirat, reluctantly released to this reporter showed he would need to pay N697, 200 for the surgery, except government intervenes.

Shakirat said she feared that government may finally withdraw should they find the letter in the media.

The letter signed by Adekoya dated February 21, 2022, was addressed to Permanent Secretary, Lagos State Ministry of Health, LMOH, reiterating Hassan's health condition and his plea for financial assistance.

She said they could not even afford the surgery when it was N200, 310 in 2021, adding that the three months they spent in LASUTH was still telling on their finances.

Burdened by Medical Bills Like Ogunsanwo, Shakirat said they incurred up to 50 per cent of the medical bills while in hospital.

She explained: "My husband was transferred from Lagos Island General Hospital given the severity of his case then. To our surprise, we were charged for every item up to the syringe. They told us the government has not passed the directive for free treatment. This continued throughout our first week in LASUTH. Even when we try to beg them that we lost our ATM card, cash and other valuables in the collapse, they turned deaf ears. We resorted to begging for donations and loans to

foot medical bills because it was an emergency situation.

"By the second week when government finally intervened, we were made to pay for things we could not afford while we were given cheap items for free.

For instance, we were given items like N100 syringe or drugs of N1000 or N2000, but we were billed for most expensive items which were more needed. As a matter of fact, some of the important drugs and injections between N5000 and N70, 000 were not always available, so we had to buy them. We also paid for all the tests."

Our reporter sighted a pile of payment receipts for drugs and diagnosis made on behalf of Hassan.

Shakirat said a promise of refund by one Dr Adewunmi, for their expenses during the first week was never fulfilled.

avoidable death, feeble health and loss of livelihood. This is in addition to its threat against Nigeria’s strive for sustainable development and economic growth.

According to Chairman, Lagos Branch of Nigeria Institute of Quantity Surveyors (NIQS), Ayodele Alao, Lagos possibly lost about N66.37 billion from 11 collapsed buildings in the last one year.

The BCPG also says Nigeria has recorded over 1,090 deaths in building collapse from 1974 to July 2021.

According to Brookings, an American research group, over 6000 households had been displaced as a result of building collapse in Lagos, with a property loss estimated at $3.2 trillion.

The disaster is further stretched by the fact that 78.4 per cent of this collapse happens in buildings fully occupied by tenants.

When tragedy as this struck, innocent victims like Daniel and Hassan are often left to carry their cross, though the law prescribes that they should be compensated.

Shocking Statistics Building collapse in Lagos is almost a regular occurrence, and therefore not shocking any longer. From statistics, Lagos remained the epicentre of building collapse in Nigeria, and across the globe.

No fewer than 508 building collapse occurred in Nigeria between 1974 and 2022, and Lagos accounts for more than half, recording 320 building collapse, according to the Building Collapse Prevention Guild (BCPG).

This avoidable tragedy at different times caused

Insurance Covering for Victims Beyond medical support promised by government, the Insurance Act of 2003 provides some protection for victims.

Section 64 and 65 of the act mandate all contractors and their agents to undertake insurance against death or injuries to third parties to a public building in the event of a disaster of this nature.

The section also stipulates that all public buildings as well as those under construction above two floors must be adequately insured with a registered insurance company.

Director-General of Nigerian Insurers Association, NIA, Mrs Yetunde Ilori said: "The law explains that every public building should be insured against the

From statistics, Lagos remained the epicentre of building collapse in Nigeria, and across the globe. No fewer than 508 building collapse occurred in Nigeria between 1974 and 2022, and Lagos accounts for more than half, recording 320 building collapse, according to the Building Collapse Prevention Guild (BCPG)

hazards of collapse, fire, earthquake, storm and flood".

The National Building Code on the other hand requires “contractor” to submit an All Risk Insurance for a project as part of his documentation process.

Ordinarily, these provisions should provide a glimmer of hope for Hassan, Daniel and other victims.

Sadly, none of the collapsed buildings in Nigeria up till 2021 has insurance record, according to NIA as reported in Punch Newspapers of December 27, 2021.

This is inspite that the Lagos State Physical Planning Permit and Building Control Regulations 2019 required that buildings above two floors be insured, failure of which shall attract a fine of N500, 000 or one monthly community service or both.

Experts blame this oversight on government negligence.

Human Right Lawyer, Femi Falana said that an insured building will ensure that victims of building collapse are duly compensated by insurance company.

This was the case during Surfside condominium collapse in Florida, USA, where court awarded an initial compensation of $150 million to over 97 victims of the disaster.

The compensation included insurance on the collapsed tower and proceeds from a sale of the empty property.

In addition to insurance claims, however, legal practitioners argued that victims are compensable by the government under the law of 'tort', given that the latter failed in its regulatory duty.

A tort is defined as a wrongful act or violation of a right that causes loss, harm, or injury to another party and results in legal, civil liability.

On tort, a legal practitioner, Idowu Ohioze, once said, "Government’s negligence in monitoring compliance with the building code brought about the loss of lives with the collapse of the Fourscore tower. A failure to act, where such impacts another's legal right, is compensable in law".

-This report was facilitated by the Wole Soyinka Centre for Investigative Journalism (WSCIJ) under its Collaborative Media Engagement for Development, Inclusion and Accountability (CMEDIA) project.

T H I S D AY • MONDAY, JANUARY 9, 2023

20

This Week In Tech 08097710984

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

2022 At a Glance: Tech Events That Rocked, Shaped the Tech Space

W

ith the year 2023 just starting, the frenzy in technology-related headlines in 2022 spelt out the truth of the tech space as one vital part of human existence that requires shared interest by inventors, researchers, organisations, and consumers.

A number of these headlines stretched the possibilities of the human mind in search of advancement, justice, and global interconnection.

With a few of these trends keeping the next revolution on their toes, others helped nurture the reality of a world of better possibilities and advancement for investors and consumers.

Among these trends are the 5G penetration into the Nigerian telecommunication space, the global tech layoffs, the surge in extended reality and the metaverse adoption, Elon Musk’s surprises and Twitter takeover, funding for Nigerian startups, Nigerian Unicorn’s sexual misconduct, the collapse of cryptocurrency and the arrest of a cryptocurrency founder, the Equiano cable launch in Nigeria, and the Nigeria Startup Bill.

Last year was indeed a strange yet interesting year in the technology sector.

ON 5G IN NIGERIA After much debate about Nigeria’s readiness to adopt the 5G mobile network, MTN Nigeria became the first telecommunication provider to roll out the 5G network to about 190 locations across the country. These locations sit within Lagos, Kano, Owerri, Ibadan, Maiduguri, Port-Harcourt, and Abuja. Other companies that joined MTN include Airtel Nigeria Communications, Globacom, and Mafab communications. This innovation aims to enable faster speeds and lower latency, allowing innovators and economic drivers to access better internet environments for outstanding creations and solutions.

LAYOFFS AND PAY CUTS The staggering feet of the economy in 2022 led tech giants like Amazon, Google, Meta, and other tech companies to lay off or cut down on staff salaries. Several reasons for laying off or cutting down over 200,000 employees stem from the shrunk economic realities. Many of these gradually resurfaced after the dead-end of the pandemic, a period where most tech companies experienced a bullish pull in income and investments.

The necessity for layoffs and cuts remains one of the low points of the IT industry in terms of employment slash. In Africa, many startups shrunk the size of their workforce to stay afloat in the economic headwinds. This change in workforce reality and the decline in investments ushered the tech industry into a year of uncertainty.

Nigerian crypto exchange startup like Quidax was quick to join the wagon in laying off 25 per cent of its staff due to the worsening economy. Kuda and 54gene also laid off their staff, while Eden Life and GetEquity saw salary cuts as a better option. As layoffs went into thousands, the numbers were in flames for tech big daddies on the international scene.

For example, Lyft laid off 683 staff; Salesforce laid off about 1000 staff; Microsoft laid off 1000; Shopify laid off 1000; Stripe laid off 1,120; Twitter laid off 3,700; and Meta laid off 11,000. This layoff included the African tech space though records of these were minimally announced to the public. The global economic squeeze has not massively affected African startups’ funding potential despite all these.

Instead, investors are preparing themselves for the potential markets that Africa has to offer. Nigerian startups in 2022 accounted for about 75 per cent of the total funding in Africa.

ELON MUSK’S INTEREST AND TWITTER Through his Twitter handle, Elon Musk announced that his Starlink Internet service

had been granted an operational licence in Nigeria. He mentioned that there were five other licenses to be approved by the Nigerian Communications Commission (NCC), three of which had already been approved. They are Internet Service Provider operational Licence, Full Gateway Operational Licence, and International Data Access (IDA) operational licence. Other licences include the Sales and Installation Major (S&I- Major) Licence, Very Small Aperture Terminal (VSAT) Network Frequency Licence, and Gateway Earth Station (GES) Network Frequency Licence.

The vantage point for Elon’s interest is to provide Nigerians with faster and more affordable internet access compared to what is provided by Mtn, Airtel, Glo and others. In addition, rural communities are set to experience better internet penetration at a cheaper costs for the communities and the government as the extra cost of fibre optics broadbands will be replaced with satellites.

The Tesla CEO also bought Twitter for $44 billion. The purchase of one of the biggest social platforms empowered Musk to churn out sack letters to the top-level staff of the company who he argued were denying people from making the best use of the platform. Another side to this was the popular plea to step down from the position of CEO influenced by a Twitter poll he conducted, where many users believed he could not manage such a position. He also introduced the payment of $8 monthly for verified accounts.

He added that he would step down as CEO as soon as he found someone “foolish enough to take the job.”

WILD FUNDING FRENZY The cumulative funding received across Africa was about $5 billion in 2022. Over a thousand startups received an average of $100,000 each. A large chunk of these funds was secured by Nigerian startups who accounted for $1.2 billion in fundraising, making Nigeria the highest-funded startup space on the continent. The dominant tech space for these fundings is the fintech industry, accounting for 35 per cent of the total funds raised. Apart from these, there was an increase in interest for investors in Africa, particularly in the Nigerian tech space, which showed in the daily upshoot of the funding volumes and expansions. An outstanding plus to the funding experience for the Nigerian startup space was the large participation of local investors. This accumulatively accounted for over 57 per

cent of investment between the first three quarters of 2022. Flutterwave raised the largest share of about $250 million in a single funding round. Other major fundraisers were: Moove ($181.8 million), Thriveagric ($56.4 million), Bamboo ($15 million), Credpal ($15 million), and more.

With these, the potential of more local investors joining the marketspace in 2023 is green. But experts still argue that the outcome of the 2023 elections will be a determining factor in the realities of tech funding in Nigeria.

SEXUAL ASSAULT ALLEGATIONS There were several alleged accusations of top executives. The allegations sparked widespread conversations about the realities of sexual harassment and assault in the Nigerian tech space.

Available data also warned that the Nigerian tech community might be one industry where gatekeepers have excluded and exploited women.

There was a case in Risevest where they asked its co-founder and CEO, Eke Urum, to step down indefinitely due to allegations of sexual and non-sexual misconduct pending a 6-week investigation by an independent investigation panel set up by Risevest’s investors to investigate the allegations.

We also heard about top-level executives at Africa’s most valued company, Flutterwave, allegedly dragged for being involved in sexual misconduct with a junior worker of the company. The viral news spread across the internet after a series of tweets from one of the former staff of the company.

The CEO, Olugbenga Agboola, was also accused of sexual harassment by ex-employees. Agboola denied the allegations, saying, “Sexual harassment allegations have been proved false and have already been reported, investigated and addressed by the management.”

More backend stories from other victims who had worked in the same company further strung Ifeoluwa Orioke, the brotherin-law of the former CEO, for abusing his position as the CFO. Orioke was said to have made unwanted sexual advances to a staff member and had consensual relationships with two others.

AUGMENTED REALITY AND THE METAVERSE Aside from copious trends in the global tech industry, the upshoot

of immersive or extended technologies has come to stay with us. From virtual reality (VR) to augmented reality (AR) and straight down to mixed reality (MR), the interconnectedness of human imaginations and their mobility within space has been redefined. The African (including the Nigerian) tech industry still needs to be fully immersed in these developments. The bits and pieces of adoptions in key areas like education, health, fashion, game, creative storytelling, media projection, and brand visibility are expanding the usage frontiers.

One major effort driven into adapting this novel reality is that of Meta, who launched Meta Quest 2 after releasing Meta Quest Pro to make it a consumer product in years to come. Meta also hosted the “Future Africa: Telling Stories, Building Worlds” exhibition in partnership with Africa No Filter, Electric South, and Imisi3D. This exhibition and the nativity of the contents helped connect people with the limitless potentials of AR and the metaverse.

MTN, one of Africa’s major telecommunications companies, led the drive towards the metaverse when it announced that it would host the first African virtual concert knowing fully well that the company was the first to have purchased a virtual land called the Ubuntuland earlier in the year.

The goal for Ubuntuland was to create an experiential space for immersive experiences.

CRYPTOCURRENCY CRASH, FTX FOUNDER ARRESTED The cryptocurrency market globally suffered a major collapse due to the mismanagement of funds in the crypto space. Approximately $8 million in assets were lost, destabilising the surging space. Investors quickly tagged the crypto market as volatile even though hope is not totally lost. One of the viral headlines in December was that of Sam Bankman-Fried, the founder of FTX, who was arrested, faces up to 115 years in prison if convicted due to his mismanagement of funds.

The sudden crash, therefore, equipped expert predictions on the gloomy future that awaits the cryptocurrency space if the trading is not manned by certain regulatory frameworks going forward.

THE EQUIANO CABLE LAUNCH IN NIGERIA West Indian Ocean Cable Company (WIOCC), in partnership with Google, officially announced the launch of the Equiano cable in Lagos. This is a subsea cable structure with Space Division Multiplexing (SDM) technology. The fibre is twelve with a design capacity of 144Tbpps. This significantly improved what was last built to serve the area covered. The strong benefit of this cable is that it will boost the digital outlook of Nigeria and fit her best for the global advantages that come with a durable digital environment.

NIGERIA STARTUP BILL The Nigeria Startup Bill was signed into law on the 19th of October 2022 by President Muhammadu Buhari and has improved the harnessing capacity of the Nigerian tech industry. This gradually placed Nigeria in the league of frontiers in the African digital economy. The bill also provides for a full launch of the Nigerian tech industry regarding the growth and development of technology-savvy talents and startups. According to the minister of communications and digital economy, Isa Ali Pantami, the bill also provides for the creation of the council for Digital Innovation and Entrepreneurship, which is to oversee the monitoring and evaluation of the regulatory structures as well as formulate binding policies that will help the actualisation of the bill’s objectives.

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FOCUS Situating the Anti-Emefiele, Yakubu Blitzkrieg

By Louis Achi Like a pack of ravenous wolves, the apparently highly organised forces closed in on their quarries. But they made fundamental miscalculations. Indisputably, it takes uncommon mafia-type intrigues and boldness to contrive grounds and then mount the kind of blitzkrieg to take down the heads of two critical flagship institutions of state. Worse, these hugely puzzling and bizarre attempts were at the penumbra of a make-or-mar democratic transition.

The targeted gentlemen are the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele and Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu. The policies both have berthed would clearly, positively impact the organisational integrity of the looming February/March 2023 general elections. Seemingly, many old politicians with last-ditch political ambitions would have none of these - by hook or crook.

Perhaps not surprisingly, the emerging view in some quarters is that only a force or forces operating with the kind of influence and funding at the level of Pablo Emillio Escobar, the late Colombian drug lord and founder of the Medellin cartel could pull the kind of audacious stunt that unfolded in past few weeks in Nigeria.

But in all these high-octane plots to remove Emefiel and Yaubu on specious, trumped up charges, one fact stood out starkly and ultimately saved the day: President Muhammadu Buhari who appointed these top officials was stoutly behind them. President Buhari has repeatedly assured Nigerian that he wants to leave an untainted electoral transition legacy and an economy reasonably stabilised even against the enervating vagaries of the global village.

It came to light recently in a strange drama that the State Security Services (SSS) has surreptitiously sought the order of a Federal High Court in Abuja, to arrest the CBN Governor Godwin Emefiele. The secret police had filed an ex parte application for an order for the arrest of the CBN governor over alleged “acts of financing terrorism, fraudulent activities and economic crimes of national security dimension.”

The SSS had filed the application marked FHC/ABJ/CS/2255/2022 at the court on December 7, 2022, suing Emefiele as the sole respondent in the ex parte application.

But an alert Justice John Tsoho, who is the Chief Judge of the Federal High Court, in a ruling on December 9, 2022, rejected the application on the grounds that the secret police failed to provide sufficient evidence to warrant the issuance of an arrest warrant against Emefiele.

According to the judge, the depositions in the affidavit filed by the SSS in support of its application “purport that preliminary investigation has revealed various acts of terrorism financing, fraudulent activities perpetrated by the respondent and his involvement in economic crimes of national security dimension.”

But rejecting the application, the judge said: “These are no doubt grave allegations, but which the applicant has not presented any concrete evidence to support.” He also insisted the SSS failed to clearly identify the person against whom the arrest warrant was sought, observing it remained speculation whether the person was the same Godwin Emefiele serving as the CBN governor.

He further noted that if the targeted person was the incumbent CBN governor, there was the need to obtain the approval of his boss, presumably referring to President Buhari, for his arrest given the crucial roles he plays in driving the economy. He said there was no evidence in SSS’ application that such approval was obtained.

The judge further noted that “The respondent in this application is named as ‘Godwin Emefiele’ without disclosure of his status or position anywhere; not even in the affidavit. It is left to speculation if the

Emefiele

‘Godwin Emefiele’ is the same person as the serving Governor of the Central Bank of Nigeria.

“If it is, then he is unarguably a highranking public official in Nigeria and indeed occupies a sensitive position as one of the key drivers of the nation’s economy. Therefore, an application of this kind should have evidence of the approval of the respondent’s boss, that such measures are authorised to be taken.”

The respected Justice Tsoho also finally noted that with or without a court order, the SSS had the power to arrest Emefiele based on reasonable suspicion, but that the agency’s lack of concrete evidence must have driven it to seek the court’s arrest warrant to serve as a cover for an irregular procedure.

Curiously, the ruling came to public knowledge after a protest by a civic coalition, comprising the Arewa Youth Consultative Movement and public interest lawyers, in Abuja. Significantly, reacting to the pro-Mr Emefiele group criticising the SSS’ move to arrest the CBN governor on Monday, the agency through its spokesperson, Peter Afunanya, warned Nigerians against being used to “undermine” its investigations.

Proffering charges bothering on “acts of financing terrorism, fraudulent activities and economic crimes of national security dimension,” are by any parameters extreme - and worse when they are unproven and not provable, this demand a stern censure targeting whoever contrived them.

Emerging facts indicate that the plot to nail Emefiele stems from politicians uncomfortable with the economic reform policy of the bank, especially the re-designation of the naira. Many informed observers believe that if truly the SSS had concrete issues linking the CBN governor to terrorism financing, it would not have allowed him to travel with President Buhari to Washington, US on December 11, 2022, to join other African leaders at the US -Africa Leaders’ Summit.

Here, the Attorney-General of the Federation (AGF) Abubakar Malami needs to step in and hold a conversation with the Director-General of SSS, Yusuf

Yakubu

Bichi as the latter is being accused of being used by politicians to derail the CBN’s new cashless policy - especially as they are uncomfortable with the new CBN policies in the lead-up to the 2023 general elections.

With little question, CBN’s withdrawal limits and the currency re-designation will undercut the amount of cash desperate politicians, especially those who see 2023 general elections as their last window, can stockpile for illegitimate voter inducement and bribery of security personnel and other relevant officials during the looming elections.

Professor of Economics at the Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Sheriffdeen Tella, nailed it when he recently observed that recent policies by the CBN have been unfriendly to the political environment. His words: “Some of the CBN policies are not very favourable to the politicians in particular.”

Even before the Emefiele saga climaxed, these same unrelenting forces had turned their gun sights on the INEC chairman Mahmood Yakubu - using a proxy which also loudly failed. This particular devil’s project had smouldered for long until last week’s court ruling rubbished it.

Resolutely burying the contrived, hare-brained plot last week, Justice M. A. Hassan of the FCT High Court in a judgment he delivered, dismissed a suit challenging the legitimacy of the assets declared by INEC Chairman Mahmood Yakubu, for being incompetent and lacking in merit.

Subsequently, he barred security agencies from investigating the INEC boss over his valid assets declaration.

According to the judgment, contrary to the claim of the claimant, Somadina Uzoabaka, the Assets Declaration Form of Yakubu was lawful, valid and in compliance with the law.

Uzoabaka had in the suit sought for the removal of Yakubu as INEC Chairman over alleged falsehood in his Assets Declaration Form. Defendants in the Originating Summons marked FCT/HC/GAR/CV/47/202 are the Attorney General of the Federation and Prof. Mahmood Yakubu.

The claimant had sought among other

things an order of mandatory injunction directing and compelling the INEC Chairman to recuse, excuse and exclude himself and or step down as the Chairman of INEC pending the investigation and consideration of the various allegations against him by the various law enforcement agencies. The quirky claimant also sought an order of Court barring the INEC Chairman from holding or assuming any public office for a period of 10 years.

Expectedly, several chairmen of political parties in the country enthusiastically hailed the judgment of a High Court of the Federal Capital Territory (FCT) which declared that the Assets Declaration Form of the INEC boss was validly filled, lawful and in compliance with the law.

Despite significant challenges, under Emefiele, Africa’s biggest economy had recorded notable growth in banks’ credit to the private sector by 92.79 per cent yearon-year to N32.64 billion as of June 2021, up from N16.93bn in June 2014, when Emefiele became the governor. The huge increase in banks’ credit growth was also attributed to the loan-to-deposit ratio policy introduced by the governor in September 2019.

Under the CBN’s development finance initiatives, N756.51bn to 3,734,938 was granted to small-holder farmers cultivating 4.6 million hectares of land. About N120.24bn was extended for the 2021 wet season to 627,051 farmers for 847,484 hectares of land, under the Anchor Borrowers’ Programme. For the Agribusiness/ Small and Medium Enterprise Investment Scheme, N121.57bn was disbursed to 32,617 beneficiaries; and for the Targeted Credit Facility, N318.17bn was released to 679,422 beneficiaries, comprising 572,189 households and 107,233 Small and Medium Scale Enterprises.

Under the INEC boss’ tenure significant positives in electoral integrity management have been evolved including the BIVAS and several others. It is against this background that greedy and very desperate politicians trying to derail or warp the 2023 general elections must be resisted and properly shamed.

And most importantly, credit must go to Civil Society Organisations (CSOs) which mobilised to confront the skulking ‘coupists’ and especially President Buhari for holding firmly and thwarting the wolves.

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MONDAY JANUARY 9, 2023

Monday January 9, 2023 Vol 27.

No 10117

opinion@thisdaylive.com

www.thisdaylive.com

Politics, supposedly an exercise of how to access and manage power for the benefit of society, has been replaced by low harlotry, contends CHIDI ANSELM ODINKALU

TAMING THE INVESTMENT RED FLAGS IN 2023 SOLA ONI urges investors to review their objectives in the new year

THEYEAROFTHEPOLITICALHARLOTANDSPLITTICKETS? “Power without responsibility – the prerogative of the harlot through the ages.”

(Stanley Baldwin, Queen’s Hall, London, 17 March, 1931)

See page 25

ACUTE DROUGHT IN THE OCEAN It is time to declare safe water for all an emergency, writes JOSEF OMOROTIONMWAN

See page 25 EDITORIAL

RESOLVING THE AJAOKUTA CONUNDRUM

26

1

When he took over power at the end of December 1983 after overthrowing the elected administration of President Shehu Shagari, Muhammadu Buhari, then a Major-General in the Nigerian Army, had all the trappings of a high priest of a regimental cult. His entire programme was boiled down to three letters -“War against Indiscipline” - which went by the deliberately suggestive acronym, WAI. To implement this, Buhari the General arrived in power armed with a hatful of decrees, nearly all of which required everyone to accomplish his diktat “with immediate effect.” On some issues, such as corruption or drug trafficking, even this impossibility was too dilatory for him.

Drug trafficking was just bubbling up the policy food chain as Nigeria was then on the foothills of emerging as a major transit point in the global drug trade. General Buhari’s answer to this was the Special Tribunal (Miscellaneous Offences) Decree Number 20 of 1984, which elevated a laundry list of 19 offences into the league of crimes punishable with death. One of those was drug trafficking.

Although promulgated eight months after he assumed office, General Buhari took such a dim view of drug trafficking, he had the decree backdated to the end of 1983. These offences were to be tried by tribunals comprising a high court judge as chair with three other uniformed persons as members, including two soldiers and one police officer.

By an instrument issued on 28 August 1984, General Buhari constituted the Tribunals, five of them to sit respectively in Ibadan, Kaduna, Kano, Lagos, and Port Harcourt. In Lagos, he designated the urbane Justice Adebayo Desalu to head the tribunal.

After their arrest at the end of 1983, Bartholomew Owo, Bernard Ogedengbe, and Lawal Ojuolape, were arraigned as suspects on charges of drug trafficking, which was then a felony. They were 26, 29, and 30 years old, respectively. Regular courts had jurisdiction to try the offence.

Decree number 20 changed all that, railroading them long after the fact to be tried before Buhari’s mongrel tribunals on charges that had become man-eating.

Convicted in March 1985, General Buhari quickly signed the death warrants, condemning these three young men to be killed. On 8 April 1985, a squad of soldiers duly obliged, shooting these three in a public execution at the Kirikiri Maximum Security Prison in Lagos in a process that “took 5 minutes to complete. The victims

were loaded into rough coffins for burial at Atan cemetery in Lagos.”

Four months after this event, in August 1985, General Buhari’s Chief of Army Staff, Ibrahim Babangida, overthrew his boss and, by Decree number 22 of 1986, undid Buhari’s imposition of capital punishment for drug trafficking.

Seven years thereafter, in 1993, following an investigation into a Nigerian heroin trafficking ring that lasted nearly five years, a United States District Court in the Northern District of Illinois issued forfeiture orders for the sum of $460,000 in respect of 10 accounts held in the name of one Bola Tinubu. In 2015, 30 years after his ouster from power, Muhammadu Buhari, claiming to be a “born-again democrat”, returned to power in Nigeria as an elected president, his electoral victory made possible by a political marriage with that same Bola Tinubu.

At the beginning of June 2022, Bola Tinubu emerged as the candidate chosen

by Buhari’s ruling All Progressives Congress (APC) to fly its flag in the vote for president in Nigeria’s 2023 elections.

Chief spokesperson of the APC presidential campaign, Festus Keyamo, himself also a Cabinet Minister and Senior Advocate of Nigeria (SAN), explains with reference to the forfeiture orders from the District Court in Chicago 30 years ago, that his principal was “roped in the drug trafficking case of two Nigerians who once stayed in separate flats in the same building where the exgovernor stayed at a time in the US.” Had General Buhari not back-dated the decree all those decades ago, Lawal Ojuolape could easily have been alive today. If he were, he would have been about 68 years, not much younger than the official age of the candidate whom President Buhari’s party has chosen to succeed him as the APC’s presidential candidate.

Some people will miss the irony in the fact that Buhari’s party political successor could be a man whom he would happily have shot by firing squad in his first coming for involvement in drug dealing, preferring instead to see this turn of events as proof of his “born-again” credentials.

They may even see in this evidence of the kind of implicit bargains that make politics the ultimate art of the possible in pursuit of political power.

In democratic politics, these implicit bargains begin, of course, with the understandings that govern membership of political parties. In return for enjoying the platform and economies of political scale provided by the convening capabilities of the party, members with political aspirations enjoy the privilege of being advanced by the party to the electorate in order to eventuate their ambitions. The fidelity of members to their party is a central part of this bargain. It is the underlying responsibility that makes politics such a historically tribal sport.

This fidelity is often tested the world over.

Hartley Shawcross, Clement Atlee’s choice as Attorney-General after Labour’s victory in the United Kingdom in 1945, so tested the loyalties of his party with his political flirtations that he acquired the sobriquet “Shortly Floorcross”. Floor crossing is supposed to be the ultimate act of rending one set of political accoutrements in favour of another. It also advertises changed political loyalties.

As Nigeria prepares to go to the polls next month, however, harlotry is emerging as a new political normal. While still in the party, some luminaries of the ruling APC, such as former Secretary to the Government of the Federation, Babachir Lawal; and former Speaker of the House of Representatives, Yakubu Dogara, for instance, have elected to work for the opposition Peoples’ Democratic Party (PDP).

In return, at least five governors of the PDP, four of whom are indeed running for office in these elections on the ticket of the party, are on the political dance-floor cavorting with the other side. Effectively, they ask their supporters to split tickets in the ballot, committing to another party for the top of the ticket and for their party down ballot. In a general election where multiple seats are in play, this could be a recipe for confusion.

Former Minority Leader in the Senate, Enyinnaya Abaribe, who left the PDP and now flies the flag of the All Progressives Grand Alliance (APGA) in the contest for the Abia South Senatorial seat against one of Wike’s peers in the Gang of Five Governors, Dr. Okezie Ikpeazu, declaims the conduct of the governors as “without integrity”, a riposte to the Governors’ selfidentification as “Integrity Group.”

Waziri Adio has recently traced the history of what appears now to be a practice by senior politicians to “openly flirt with all interested political suitors while still in a serious relationship”, concluding that “of late, Nigerian politicians are not the most faithful.” In other words, politics, supposedly an exercise in high ethics of envisioning how power is best accessed and managed for the benefit of society, has been replaced by low harlotry, complete – in typical Nigerian fashion - with Aso Ebi. A lawyer and a teacher, Odinkalu can be reached at chidi.odinkalu@tufts.edu

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MONDAY JANUARY 9, 2023

SOLA ONI urges investors to review their objectives in the new year

TAMING THE INVESTMENT RED FLAGS IN 2023 The state of Nigerian economy and the 5HTXLUHPHQWV 7KHUH KDYH EHHQ OD\RͿV ÀQDQFLDO PDUNHW LQ FDQ EH FDSWXUHG DQG SD\ FXWV LQ PDQ\ FRPSDQLHV LQ RQH ZRUG XQFHUWDLQW\ 7KHUH DUH 1LJHULD LV QRW WKH RQO\ FRXQWU\ D QXPEHU RI UHG ÁDJV WKDW DQ LQYHVWRU XQGHUJRLQJ HFRQRPLF TXDJPLUH )RU FDQQRW LJQRUH LQ RUGHU WR RSHUDWH DQ LQVWDQFH WKHUH DUH VSHFXODWLRQV WKDW RQH H΀FLHQW SRUWIROLR LQ 6RDULQJ RI WKH :DOO 6WUHHW·V JLDQWV *ROGPDQ LQÁDWLRQ UDWH LQWHUHVW UDWH FRQXQGUXP 6DFNV LV SODQQLQJ WR GLVHQJDJH WKRXVDQGV H[FKDQJH UDWH YRODWLOLW\ QDLUD GHYDOXDWLRQ RI HPSOR\HHV WR ´QDYLJDWH D GL΀FXOW FRVW RI WUDQVDFWLRQ LQ WKH VWRFN PDUNHW HFRQRPLF HQYLURQPHQW ´ 7KLV FRQÀUPV LQVHFXULW\ DQG DQWLFLSDWHG LPSDFWV RI WKH WKH EHOLHI WKDW :DOO 6WUHHW LV XQGHU VWUHVV SUHVLGHQWLDO HOHFWLRQ RQ WKH HFRQRP\ DUH DV GHDO PDNLQJ LV GU\LQJ XS DQG UHYHQXHV VHQGLQJ GDQJHURXV VLJQDOV WR LQYHVWRUV SOXQJLQJ ,W LV REYLRXV WKDW VLJQDOV D ZLOG FDUG IRU LQYHVWPHQW GHFLVLRQ %XW WKH ÁDJV PXVW EH PDQDJHG ,QÁDWLRQ UDWH KDV GRQH LQFDOFXODEOH 'HVSLWH WKH LQFOHPHQW RSHUDWLQJ GDPDJH WR WKH JOREDO HFRQRP\ DQG WKLV HQYLURQPHQW VDYY\ LQYHVWRUV LQ 1LJHULD ZLOO LPSDFW LQYHVWPHQW GHFLVLRQ LQ WKLV UHDOL]HG JRRG UHWXUQV LQ WKURXJK GDULQJ LQYHVWPHQW LQ GROODU GHQRPLQDWHG SURGXFWV VXFK DV PXWXDO IXQGV À[HG LQFRPH VHFXULWLHV &RPPHUFLDO 3DSHUV DQG HTXLWLHV ,W LV DOO DERXW XQGHUVWDQGLQJ PDUNHW SV\FKRORJ\ DQG WDNLQJ DGYDQWDJH RI LQYHVWPHQW DGYLFH IURP VWRFNEURNHUV $W WKH EDVLF OHYHO LW LV FOHDU ÀQDQFLDO LQVWUXPHQWV RU RWKHU SURGXFWV DUH SURQH WR VLJQLÀFDQW ULVN LQFOXGLQJ WKH SRVVLEOH ORVV RI WKH SULQFLSDO DPRXQW LQYHVWHG 6LPLODUO\ HYHU\ ÀQDQFLDO LQVWUXPHQW RU RWKHU SURGXFW GHQRPLQDWHG LQ D IRUHLJQ FXUUHQF\ LV VXEMHFW WR H[FKDQJH UDWH ÁXFWXDWLRQV 7KLV PD\ KDYH DQ DGYHUVH HͿHFW RQ WKH SULFH RU YDOXH RI DQ QHZ \HDU $V RQH RI WKH ODVW RSWLRQV WR LQYHVWPHQW LQ VXFK SURGXFWV WDFNOH LQÁDWLRQ &HQWUDO %DQN RI 1LJHULD 7KH IDPRXV (FRQRPLF ,QWHOOLJHQFH &%1 UDLVHG WKH QRPLQDO DQFKRU FDOOHG 8QLW (,8 KDV SRVLWHG WKDW FRPPRGLWLHV WKH 0RQHWDU\ 3ROLF\ 5DWH 035 SULFHV ZRXOG UHFHGH LQ EDVHG RQ SHUFHQW <HW LQÁDWLRQ UDWH VRDUHG WR VORZ GHPDQG JOREDOO\ %XW WKH PDJD]LQH SHUFHQW D \HDU KLJK DV DW 1RYHPEHU TXLFNO\ DGGHG WKDW ORZ VXSSO\ RI DPLGVW ORZ SXUFKDVLQJ SRZHU 7KH FRPPRGLWLHV SURGXFWV ZRXOG SXVK 1LJHULDQ *URVV 'RPHVWLF 3URGXFW *'3 XS SULFHV ´:DU LQ 8NUDLQH ZLOO VWLOO VOXPSHG SHUFHQW DW 4 WR DͿHFW DJULFXOWXUDO FRPPRGLWLHV PDUNHWV SHUFHQW LQ WKH WKLUG 4XDUWHU DFFRUGLQJ WR LQ µ VD\V (,8 %XW LQ WKH FDVH RI 1LJHULD WKH PRUH WKH IHGHUDO JRYHUQPHQW 1DWLRQDO %XUHDX RI 6WDWLVWLFV 1%6 7KH PRPHQWDU\ JDLQV IURP FUXGH RLO FUHDWHV DQ HQDEOLQJ HQYLURQPHQW IRU WKH FRXOG QRW SURYLGH EXͿHU IRU WKH 1LJHULDQ FRPPRGLWLHV HFRV\VWHP WKH EHWWHU IRU H[WHUQDO UHVHUYHV ZKLFK GURSSHG WR WKH FRXQWU\·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΀FLDO SURGXFWV· TXDOLW\ DQG HQKDQFH WKHLU JOREDO UDWH 1$)(; 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It is time to declare safe water for all an emergency, writes JOSEF OMOROTIONMWAN

ACUTE DROUGHT IN THE OCEAN In his hierarchy of human needs, Abraham Maslow (1908-1970), placed water very high to man’s survival - coming very close to the air we breathe.

We have also observed elsewhere that water is sometimes considered man’s best friend and at other times, his worst enemy - depending on when and how it comes.

So soon after we cried out about the menace of flooding brought about by heavy rainfall, we are returning to the same subject of water - this time on the positive side of the availability of water, which, unfortunately, we do not have in the country.

Before going into the main subject, a quick aside: In self-defeatism, people do anything,

sometimes, totally absurd. This is where we find our present federal administration, as represented by the Minister of Humanitarian Affairs, Mrs. Sadiya Umar Farouq.

While the Bayelsans were bemoaning their losses and licking their wounds from the devastation brought upon them by the flood, which submerged virtually the entire state, the minister went on air to ask them to shut up. After all, they were not among the 10 most devastated states. She based her poor judgment on the number of deaths in each state. By her diabolical reckoning, the Bayelsans must be blamed for being proactive enough to know when to flee to higher grounds. They should have waited to be swept away by the surging flood, as her favourite subjects did!

More importantly, the Bayelsans must be blamed for having stronger structures that resisted the surging flood instead of the ramshackle huts as the minister’s favourite subjects have!

What a height of insensitivity! We, however, do not intend to belabour the point here since it has been sufficiently interrogated, even up to the giddy heights of the National Assembly.

Our concern, though, stems from the fact that if all you have is a hammer, everything you see would look like a nail. In a regime ridden with scams, every game is fair game. For instance, if the minister suddenly comes up with a report that her Ministry paid N1 billion to each of the 603 families from the flood disaster, that would only provide comic relief to Nigerians for one week and life goes on.

After all, that would not be any different from the numerous petroleum subsidy scams and the oil theft that has been going on unabated under the watch of the owner of the country, so to say, who also doubles as the Minister of Petroleum Resources!

As if to justify our fear, the Humanitarian Affairs Minister claims that unknown to her, a humongous amount is implanted in her Ministry’s budget for the 2023 Fiscal Year! Have Nigerians been told enough about this? With this regime, it has apparently been another day, another scandal.

Now back to the issue of the pipe-borne water. We live in water but we have no water to drink. This is a serious irony that is applicable

throughout Nigeria — in the Sahara Desert as well as in the Rain forest. Put differently, our case is that of an acute drought in the ocean.

The major problem here is that we have not yet understood the importance of water to human existence. Whether we are talking about healthy living or disease eradication and control, water is it! In every aspect of human life, the people of the Niger Delta Region are hardest hit here and the saltwater in which they live is poison! If we knew the importance of water, we would not be treating it with levity.

In the First Republic when regions were in charge of their Resource Control, they provided drinking water to their urban population. But with our burgeoning population, this is beyond the states, being a very expensive adventure.

In the Second Republic, most of the legislators who came to the National Assembly had the issue of pipe-borne water in mind. All their initial motions pointed in the direction of asking the federal government to make drinking water available to the people.

Up till now, we are still in the business of educating people that the issue of drinking water is not for the federal government.

Both the 1979 Constitution and the 1999 Constitution give that responsibility to the states. That subject is on the residual list.

Anything that is neither on the exclusive legislative list nor on the concurrent legislative list is on the residual list.

Anything on the residual list is for the states.

This is to be found in the telling paragraphs of our Constitution. All attempts to lift it into the exclusive legislative list during the Babangida Constituent Assembly of 1988/89 failed. This clarification has become very relevant because, in the present dispensation, we have seen some of our serious-minded Journalists asking the Presidential Candidates to tell Nigerians what they would do to make drinking water available to the people if elected.

Under our present arrangement, this is a very valid question, directed to the wrong persons.

We are still where we are - where the cow is more important than the man. The only reference to Water Resources in our Constitution is for irrigation and animal husbandry. We are now sentenced to the bore-hole, thus endangering our lives and the earth’s formation. Unknown to many the earth on which we live sits on a decking with underground water flowing. We are now proud to keep disturbing the earth’s formation with our bore-holes. One day perhaps, this decking will collapse and BAM! everything will sink. That is the making of an earthquake!

The time to prevent an impending doom is now. There is no alternative to declaring an emergency on our water situation while we seriously go about finding out what others are doing that we are not.

Admittedly, we are now at a crossroads on the issue of water supply to our people.

In the devolution of powers, our arguments should be stronger on the devolution of resources than the devolution of responsibilities.

Having gone round, there is no escaping the inevitable conclusion that Water is Life.

But because of our burgeoning population, a proper supply of potable water to the citizenry has become so capital-intensive that it has slipped off the affordability of sub-nationals.

Omorotionmwan writes from Canada

26 4

T H I S D AY

MONDAY JANUARY 9, 2023

EDITORIAL

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

RESOLVING THE AJAOKUTA CONUNDRUM The terms of the concession should be clearly defined

A

WKDW FRQIHU ¶ULJKW SURÀOH· VWDWXV RQ WKH SRWHQWLDO lmost half a century after it was investors, given our bitter experience in the past. conceived as a critical tool to In a clime where personal and group interest the country’s industrialisation supersedes national interest, who determines the aspiration, the Ajaokuta Steel Mill FRQFHVVLRQDLUH ZLWK WKH ¶ULJKW SURÀOH·" remains a drainpipe. Such is the On the face value, the president had listed some disappointment of Nigerians that RI WKH H[SHFWHG EHQHÀWV RI WKH $MDRNXWD FRQFHVVLRQ WKH RQJRLQJ GHEDWH LV DERXW ZKHWKHU WKH RXWÀW VDLG which include the creation of over 500,000 jobs to be almost completed should be concessioned or and more than $1.6 billion in annual income to the sold as scrap. This is a sad commentary for a project Nigerian economy. This is music to the ears, but we that was said to have been 84 per cent completed as are yet to see how the federal government will give far back as 1983, and on which between $8 billion SUDFWLFDO H[SUHVVLRQ WR WKLV KLJK VRXQGLQJ ÀJXUH and $11 billion had been spent. :H KDYH KHDUG VR PXFK RI VXFK VRXO OLIWLQJ The unfortunate thing about the Ajaokuta promises in the past in story is that nobody several sectors of the knows what to believe economy, but they all anymore. In 2014, the With billions of naira being expended to pay thousands of redundant ended as mere tales. then Director of Steel To be clear, the federal workers, it is important that an amicable solution be found to what has since and Non-ferrous Metals government has settled for Department, Ministry become a metaphor for waste the concession option and of Mines and Steel has gone ahead to appoint Development, said the transaction adviser for the federal government had concessioning of the steel spent about $6 billion on T H I S D AY FRPSDQ\ :KDW 1LJHULDQV DUH HDJHUO\ DZDLWLQJ LV the plant, and that only $513 million was needed for EDITOR SHAKA MOMODU for the process to be completed. It would amount to completion. The estimates were reportedly from the DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA an unpardonable sin for the concession to go awry report of a technical committee set up by the federal MANAGING DIRECTOR ENIOLA BELLO DQG WKH PXFK DGYHUWLVHG EHQHÀWV E\ WKH %XKDUL DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU government. Same year, another committee headed CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI administration to become a pipedream.

by Daniel Maddo said it would require $1.2 billion EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN :H DUH ERWKHUHG E\ WKH SURFOLYLW\ WR WKH ZDVWH RI for the steel complex to come on stream. Meanwhile, MANAGING EDITOR BOLAJI ADEBIYI scarce resources in the country, especially at a time there have been concessions, asset stripping and all THE OMBUDSMAN KAYODE KOMOLAFE the population is growing at an alarming rate and manner of sharp practices in the name of making WKH HFRQRP\ LV VORZLQJ GRZQ :H IHHO WKDW VXFK the project work. national assets should either be turned around Only recently, President Muhammadu Buhari said T H I S D AY N E W S PA P E R S L I M I T E D IRU HFRQRPLF EHQHÀWV WR WKH FRXQWU\ RU DW EHVW EH the federal government had begun the concession EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA handed over to entities that can make the most of SURFHVV RI WKH $MDRNXWD 6WHHO &RPSOH[ E\ ÀUVW GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, them so they can create jobs for our people. On that ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI rescuing it from “legal disabilities.” He stated that QRWH ZH VXSSRUW DOO HͿRUWV WR FRQFHVVLRQ $MDRNXWD DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, the process had cost the federal government over ANTHONY OGEDENGBE :H XUJH WKH UHOHYDQW DJHQFLHV WR HQVXUH WKDW WKH $400 million, adding that after the ‘legal rescue’, DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI WHUPV RI WKH FRQFHVVLRQ DUH FOHDUO\ GHÀQHG DQG VSHOW the federal government was looking for a private SNR. ASSOCIATE DIRECTOR ERIC OJEH RXW :LWK ELOOLRQV RI QDLUD EHLQJ H[SHQGHG WR SD\ LQYHVWRU WKDW ÀWV WKH ´ULJKW SURÀOH µ :KLOH LW UDQNOHV ASSOCIATE DIRECTOR PATRICK EIMIUHI thousands of redundant workers, it is important that the country had to cough up a princely $400 CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO that an amicable solution be found to what has million ‘to rescue’ the moribund national asset TO SEND EMAIL: first name.surname@thisdaylive.com since become a metaphor for waste. from legal issues, we do not know the parameters

Letters to the Editor Letters in response to specific publications in THISDAY should be brief (150-300 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 (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

LETTERS NEED FOR DRUG USE PREVENTION IN SCHOOLS The target demographic for drug prevention campaigns has traditionally been young adults. They are going through a variety of events and situations that make them vulnerable to using drugs, and they are also in the process of learning how to make healthy decisions and behaviors. At this point in their lives, drug usage is either a coping strategy or a social experiment. In terms of an experiment, this is primarily a result of peer pressure and the mounting need to blend in and seem “cool.” They might seek it out as a way to deal with the pressures of school, standardized tests like those conducted by -$0% DQG :$(& However, the increased demand and use of drugs in adulthood is becoming glaring. According to a 2018 UNODC research, one in seven Nigerians between the ages of 15 and 64 had taken illicit drugs at some point, with 14.3 million people in this age group identified as drug users. In addition, people between the ages of 25 and 39 comprise the majority of drug users. It may not be the case that drug

prevention initiatives in schools are ineffective, but rather that adult settings and dialogues need to be included in the fight against drug demand.

Drug prevention cannot be given more importance in one age group than another because there is no distinct section that allows for this. Theories of health persuasion are frequently used to persuade young adults throughout their formative years to build the resilience and willpower to withstand particular cravings even in the face of difficulties that could otherwise lead them to explore drug escapism. Adults are not exempted from these issues; in fact, they are even more vulnerable since they no longer have access to the safety nets that help them overcome obstacles. Adults have obstacles at work and even social expectations regarding income, responsibilities, and ongoing performance and achievement pressure.

Teenagers and young people are developing into responsible adults and leaving the communities that these admirable drug prevention initiatives are

meant to reach. Sadly, experimenting is not beyond a certain age group due to pressure, temptation, and curiosity. It may appear that drug prevention initiatives can merely postpone drug usage in teens and young adults till they reach adulthood rather than completely stopping it. In fact, a lot of young people don’t start using heroin until they’re 22. Because they have the added disadvantage of having access to money to support the habit, adults also have a higher risk of being dependent on drugs.

7KH 1DWLRQDO 'UXJ /DZ (QIRUFHPHQW $JHQF\ ODXQFKHG WKH :DU $JDLQVW 'UXJ $EXVH :$'$ LQLWLDWLYH LQ -XQH OHG E\ &KDLUPDQ &KLHI ([HFXWLYH %ULJ *HQ 0RKDPHG %XED 0DUZD UWG 7KLV ZDV GRQH LQ OLQH ZLWK the agency’s goals to fight the drug war in three areas: reduce supply, reduce demand, and recover proceeds from illicit drug trafficking. The 1'/($ LV ZLQQLQJ WKH EDWWOH DJDLQVW GUXJ supply thanks to its commendable arrests of

up to 23, 907 drug traffickers including 29 drug barons between 2021 and 2022 and seizures of up to 5.5 million kg of illicit drugs. However, the general public is urged to support the agency’s initiatives to lower drug demand.

7KH 1'/($ DOVR DZDUGV :$'$ DPEDVVDdorships to public figures, public officials, both state and non-state actors, leaders in organizations, including the entertainment industry, to indulge them in the fight against substance use in their respective communities, recognizing that the demography of drug use is not restricted to youth and young adults. Demand must be decreased greatly in order to lower supply, and engaging the public in the struggle is the only way to do this.

The pressure to use drugs for the rest of their life can only be resisted by those who possess strong self-control and the capacity to exert willpower.

Blessing Tarfa, Kuje Abuja, FCT

T H I S D AY ˾ MONDAY, JANUARY 9, 2023

27

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

J A N U A R Y

S & P INDEX

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EXCHANGE RATE

OPR

11.25%

CALL

10.25%

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613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

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10.52%

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Airtel, Dangote Cement, 18 Others Contributed 92.6% of N27.92trn Market Cap in 2022

Kayode Tokede As the Nigerian Exchange Limited (NGX) market capitalisation closed at N27.9 trillion in 2022, the likes of Airtel Africa Plc, Dangote Cement Plc, MTN Nigeria Plc and 17 other highly capitalised stocks contributed about 92.6 per cent or N25.85 trillion in market value.

THISDAY had reported that the stock market in 2022 gained N5.62trillion, attributable

to domestic/ institutional investors buying interest in cheap fundamental stocks such as MTN Nigeria, Airtel Africa, Dangote Cement Seplat Petroleum, Okomu Oil Palm, Guinness Nig Plc, among others.

Airtel Africa, according to THISDAY, findings still maintains leading position as the most capitalised stock in 2022, adding 22 per cent or N6.14 trillion to market capitalisation.

The stock price of Airtel Africa

added N680 to close at N1,635.00 per share from N955 per share it opened for trading.

Analysts have attributed growth in Airtel Africa’s stock to foreign investors surge participation in 2022 and the telecommunication sustained dividend pay-out to shareholders.

The telco company said its underlying profit after tax dropped by 1.5 per cent to $330 million in September 2022, lower than the $335million that was reported

during the comparable half year ended September 2021.

Closely following Airtel Africa was Dangote Cement Plc with N4.45 trillion in market capitalisation, followed by MTN Nigeria with N4.38 trillion in market capitalisation.

THISDAY investigation revealed that Dangote Cement’s stock price added N4.00 per share to N261 per share as MTN Nigeria gained N18.00 per share to N215.00 per share.

Another cement manufacturing company, BUA Cement Plc also crossed the N3 trillion mark in market capitalisation to N3.3trillion as BUA Foods was the only company with N1.1trillion in market capitalisation.

BUA Foods was admitted to the Exchange daily listing at N40 per share and closed 2022 at N65 per share following high demand by retail/institutional investors.

Capital market analysts expressed that retail/ institutional

investors positioned themselves in fundamental stocks expected to declare dividend in 2022 financial year, stressing that these companies have maintained improve corporate earnings over the years.

In a chat with THISDAY, the CEO, Wyoming Capital & Partners, Mr. Tajudeen Olayinka said the improved liquidity in the system is responsible for the Continued on page 29

NIMASA: Standardised Digital Communication Key to Effective Port, Flag Administration The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh has stated that international collaboration to attain standardized digitalization is essential for maritime administrations across the world and all stakeholders in the maritime sector to effectively communicate in line with provisions of the International Maritime Organization (IMO) and the International Association of Marine Aids to Navigation and Lighthouse Authorities (IALA).

Jamoh who stated this while

speaking at the launch of Denmark’s first commercial satellite, Sternula-1, in Aalborg, Denmark noted that NIMASA is participating in the testing stage of an international satellite system that would improve communication channels for vessels at sea as part of the current Management’s quest to ensure adoption of global best practices in the Nigerian maritime sector.

He noted that the IMO set the requirements for the e-Navigation strategy implementation plan while, IALA develops the technical solutions

such as AIS as part of measures to ease and promote digital communication in the Maritime Industry.

According to him, “Ultimately, seaborne transport depends on a secure and trustworthy flow of information. In this new reality, access to quality data is essential for ship managers to make decisions, act on market opportunities, and meet new requirements. A well digitalized system leads to faster access to information, improved customer experience, increased productivity, lower operational

costs, improved decision making, improved information security, higher mobility, and automation of business processes amongst others.”

In the Port Sector, Jamoh noted that Digitalization is the foundation of Smart Ports and Digital Twins, both technological tools and solutions that can transform real-time data into accurate and more precise business decisions, rendering port operations extremely effective as it interconnects all sectors of the maritime supply chain.

While noting that digitalization transforms organizations from reactive to being proactive in areas such as safety and safety reporting, the NIMASA DG said that there are massive untapped potentials for the shipping industry to improve its operational efficiency through harnessing ship-to shore data flows that can positively impact commercial, environmental and safety performance reporting processes.

NIMASA had in the third quarter of 2022, signed a Letter-of-Intent with the Danish telecoms company

Sternula, on participation in the Worldwide AIS 2.0 Demo Project that will allow for early testing of digital services over the satellitebased AIS 2.0 at the beginning of 2023. Sternula-1 and the built-in AIS 2.0 technology, also called VDES, is a new communication solution to implementing a global e-Navigation strategy. AIS 2.0 is an extension to AIS, adding two-way data channels over VHF by using special satellite channels which means that every ship with a VHF antenna will be able to communicate globally.

M A R K E T D ATA A S AT F R I D AY, J A N U A R Y 6 , 2 0 2 3 BONDS DESCRIPTION Price ^14.20 14MAR-2024 ^13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

10.362, 00 10.459, 00 10.287, 00 11.168, 00 10.386, 00

Yield 10.82 11.11 11.35 12.60 12.92

Change Updated Time (%) January -0.01 6, 2023 January -0.71 6, 2023 January 0.00 6, 2023 January 0.00 6, 2023 January 0.00 6, 2023

BILLS MATURITY

Discount

Yield

NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23

3.01

3.01

3.01

3.02

2.21

2.22

3.20

3.23

NTB 11May-23

3.23

3.27

OTC F X F U T U R E S

CPS

Change Updated Time (%) January 6, -0.01 2023 January 6, 0.00 2023 January 6, -1.71 2023 January 6, 0.00 2023 January 6, 0.00 2023

MATURITY FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23 MREP CP VI 11-APR-23

Change Updated Time (%) January 6, 9.26 9.43 0.00 2023 January 6, 14.15 14.64 0.00 2023 January 6, 10.52 10.81 -0.01 2023

Discount Yield

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CONTRACT TENOR Contract (MONTH) NGUS JAN 25 1 2023 NGUS FEB 22 2 2023 NGUS MAR 29 3 2023 NGUS APR 26 4 2023 NGUS MAY 31 5 2023

Current Rate Updated Time ($/₦) January 6, 469.87 2023 January 6, 472.05 2023 January 6, 474.23 2023 January 6, 476.42 2023 January 6, 478.60 2023

28

MONDAY, JANUARY 9, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Reactions Trail NAICOM’s New Premium Rate for Motor Insurance Ebere Nwoji The recent increase in premium for motor third party insurance policy by the National Insurance Commission (NAICOM), has been greeted by reactions from motorists, licensing agents and other members of the public.

While members of the organised private sector (OPS) see the development as a desirable move that will grow the economy, some insurance consumers from the informal sector and licensing office agents frowned at it complaining that it has discouraged most motorists who come for their vehicle insurance from doing so.

NAICOM had late December 2022 announced 200 percent increase on premium payable on the compulsory Motor Third Party Insurance from N5000 to N15000.

The commission, equally increased claims on the policy from N1million to N3million Since the commission made the pronouncement on December 22, 2022 saying that the new premium rate would take effect from January 1,2023, members of the insuring public have been awash with comments on the development .

While some viewed the development from the perspective of economic growth it will translate to especially on the side of the insurers, others viewed it from the perspective of negative effects on the pockets of the insuring public.

From the Organised Private Sectors’ side, the Director General Nigeria Employers’ Consultative Association (NECA), Mr Adewale-Smatt Oyerinde, told the News Agency of Nigeria NAN that the new rate for motor insurance is desirable in order to grow the economy.

Oyerinde said that in order to grow the economy, develop the insurance industry and provide effective risk-mitigating services to the generality of Nigerians he believes that a marginal adjustment in the current rate was desirable.

The NECA boss noted that NAICOM reserved the right, as provided in the extant law, in reviewing the rate.

He however said it was impera-

tive for NAICOM to always carry stakeholders along in such review, especially with the timing.

“It is worthy of note that the current rate has been in existence for over five years, while the cost of motor vehicles has increased exponentially. Coupled with the general price increase of goods and services, the commission can be justified if there are guarantees for improved service delivery and a higher response rate from insurance companies, “ he said.

A female officer at Alaba Aragon in Ojo area of Lagos, who identified herself as Ruth said the premium rate increase has spoilt her business because many motorists who came in for enquiries for renewal of their insurance certificates walked away as soon as they heard her mention N15000 instead of N5000.

She said some opted for fake certificate at cheaper price but that she has been advising them to forget about that because of NIID capturing which must expose them.

Another licensing agent who works with the revenue department of Iba LCDA, Tunde Ortega said immediately he got the news, he called most of his clients whose insurance certificates would expire between January and February to come and renew their insurance papers before January 1 and some responded.

He said for those coming after, many went back with their old papers when they were told the new premium rate.

Similarly, Insurance Consumers Association (INSCAN) shortly after the announcement called on NAICO to reverse the new rate saying it was at variance with some of the works commissioned by the National Insurance Commission (NAICOM) which recommended phased increase of 3rd party motor insurance premium.

INSCAN National Coordinator, Yemi Soladoye, in a protest letter titled, “Demand for reversal of your policy directive on the increase of 3rd party motor insurance premium in Nigeria by 200% under one (1) week notice to the Nigeria insurance consumers,” noted

that the increase required a staggered increase first to N7,500 and subsequently to N10,000, N12,500 and ultimately to N15,000 within a ten year period.

Soladoye outlined that the recommendation was not limited to premium increase but that there was a mandate to NAICOM in 2012 to include in the process initiatives that will ensure, “The emergence of high level confidence in insurance mechanism in Nigeria to the extent that by the year 2012, mere exchange of insurance papers would resolve any accident/damage dispute among Nigerian motorists.”

However, he said only the benefits were taken and he asks “Why take only the benefit and ignore the responsibility that was already 10 years overdue.

Meanwhile, the Nigerian Corporation of Registered Insurance Brokers (NCRIB), which actively participated in the prolonged process of announcing the new motor 3rd party insurance premium has assigned revered the matter to its technical committee to take a position.

THISDAY learnt that the Technical Committee of the brokers council are already sitting and would pass their recommendations to the Council of NCRIB for further deliberations at which point the NCRIB would present its position.

In its protest letter, INSCAN, which claimed to be representing almost 20 million motor insurance consumers in Nigeria argued that consumers deserved more than one week notice for the new rate.

In its argument over the new premium rate it said “We are not impressed by your corresponding increase in the indemnity limit to N3 million as the questions on the lips of our members are who requested for this increase to N3 million, how many claims have you really settled even when the limit was N1 million, are you aware that many fleet owners on their own volition do pay extra premium to the underwriters to increase their TPPD limit to N5 million and where are the insurance ratios to justify that premium increase by whooping 200 percent.”.

Operators Seek N40,000 Minimum Wage for Private Guards Olawale Ajimotokan in Abuja The Licensed Private Security Practitioners of Nigeria (ALPSPN) has proposed a minimum wage of N40, 000 for anyone offering guard services across the country.

The association’s national president, Chris Adigwu, disclosed this yesterday. He said his administration would ensure the implementation of the proposed minimum wage in all states of the federation.

He noted that a new minimum wage had become expedient in the light of the increasing cost of living in the country, adding guards would

be up to the task, when they are well paid.

“If our guards are well paid, they will do their work well and that is why we are proposing a minimum wage of nothing less than N40, 000 for anyone offerings guard services across the country, whether it is in Gombe, Akwa Ibom or in Sokoto states,” Adigwu said.

He said the association is one of the biggest employers of labour in the country with over four million Nigerians engaged in about 1,650 registered private security companies.

He disclosed that the association has the challenge of compliances and

multiple taxation, especially from the Federal Inland Revenue Service (FIRS), just as he called for a review of the tax method for private security guard companies in the country to enable them stay in business.

‘We also have the challenge of foreign contractors and other people, such as the vigilantes encroaching into our business. Our members are well profiled before they are licensed and we pay for our renewal fees and are regulated by the government. So, the government should empower us to do our work, rather than allowing other groups to encroach into our business,” he pleaded.

Green Africa to Operate Double Daily Flights to Ilorin Green Africa, Nigeria’s value airline, has announced that it is increasing daily flights to Kwara state, Nigeria’s “state of harmony”.

Starting from January 11, 2023, the value carrier would have two daily return flights into Ilorin from Lagos and Abuja, respectively. With the additional capacity, customers will have the flexibility to travel in the morning or evening and a clear option for a day return trip.

Green Africa said it currently operates over 120 weekly flights

to eight destinations in Nigeria (Abuja, Benin, Akure, Port Harcourt, Enugu, Owerri, Lagos & Ilorin), with plans to expand to more destinations in 2023.

Green Africa’s Chief Commercial Officer, Obiukwu Mbanuzuo said: “Ilorin is a very important market for us, and we appreciate our customers for continuing to choose us as their preferred partner for their travel plans. This additional capacity from Lagos and Abuja into Ilorin will offer our customers

more flexibility, while they continue to enjoy Green Africa’s affordable products and industry-leading on-time performance.”

Green Africa, which recorded the best on-time performance for five out of the past six months, won the “Corporate Governance Award” at the 2022 Aviators Africa Conference and Tower Awards Ceremony, organized by Aviators Africa.

Customers can enjoy low fares by visiting greenafrica.com to book their next flights early.

How to Apply for 2023 Pension Clearance Certificate The National Pension Commission (PenCom) issued Pension Clearance Certificates (PCCs) to 26,556 organisations that applied and were confirmed to have complied with the Contributory Pension Scheme (CPS) in 2022.

Analysis showed 715 more organisations got the PCCs in 2022 than the 25,841 organisations that obtained the certificate in 2021.

However, it is imperative to note that PCCs expire on the last day of the year, irrespective of the date they were issued within the year. Consequently, all 26,556 PCCs given in 2022 have expired, and the organisations must apply and obtain fresh PCCs for the year 2023.

PenCom commenced the issuance of PCC to organisations in 2012 in line with the Pension Reform Act, 2014 (PRA, PENCOM DG, Aisha Dahir-Umar 2014), which mandates all organisations with at a valid Group Life Insurance Policy, which should least three employees to participate in the CPS. The include a Certificate of Group Life Insurance, Policy PCC is evidence of compliance with the PRA 2014 Document and proof of payment for the policy. and a prerequisite for all suppliers, contractors, or consultants, soliciting any contract or business from ISSUES TO NOTE IN THE Ministries, Departments, and Agencies (MDAs) of APPLICATION FOR PCC the Federal Government. Accordingly, PenCom The processing of PCC applications as designed issues PCCs to organisations that apply and have by PenCom is straightforward and transparent. The fully complied with the requirements. applications are processed within the advertised To qualify for PCC, employers must ensure their time frame of 15 working days, provided that all employees’ open Retirement Savings Accounts requirements are met. However, many applicants (RSAs) with any Pension Fund Administrator (PFA) fail to provide the required documents and often of the employees’ choice. Employers must also submit their applications without regard to the remit employer and employee monthly pension timeline for processing. It is important to emphasise contributions to the appropriate Pension Fund that the PCC is issued to the applicant organisation Custodians (PFCs) no later than seven working days at no cost. The PCC is useable all year round, but from the payment date of salaries. Furthermore, its validity cannot extend beyond 31 December of employers with pension schemes before the CPS the year it was obtained. Furthermore, in a general must transfer Pension Funds and Assets in their notice to all employers published in September custody to licensed pension operators. Finally, 2017, PenCom warned employers against using employers must provide their staff with Group third parties to get the PCC, as employers are Life Insurance Policy (GLI). encouraged to apply directly to avoid any hitches.

The Public Procurement Act requires the PCC Some of the noted deficiencies in the submissions to be submitted as evidence of compliance with by organisations include the following: Under the PRA 2014 by all suppliers, contractors or remittance of contributions; Non-provision of Group consultants soliciting any contract or business Life Insurance for at least three times the total from Federal Government Ministries, Departments annual emolument of employees; understating the and Agencies (MDAs). However, it should be number of employees and remittance of outstanding noted that under the PRA 2014, compliance is pension contributions, as established by the Recovery not mandatory for organisations that employ less Agents. In the event of any deficiency, a notification than three persons. Still, their employees may is forwarded to the applicant for remedial action do so voluntarily through the Micro Pension before the issuance of the PCC. However, the Plan. Therefore, PCCs are not issued to such PCC will not be issued if the applicant fails to organisations by PenCom. provide the requested documents.

Furthermore, a list of organisations that were REQUIREMENTS FOR THE PCC issued the PCC is uploaded on the PenCom An organisation can obtain the PCC by applying website to facilitate verification by interested to PenCom and attaching the following: Certified parties. Consequently, any certificate not found list of employees of the organisation as of the end on the website is invalid, as the list is updated of the last fiscal year; Certified rates of monthly daily. There is also an interface through which contributions indicating the employer portion the Bureau of Public Procurement (BPP) verifies (minimum of 10 percent) and employee portion the PCCs of organisations as PenCom feeds BPP (minimum 8 percent) and evidence of remittance of the information daily. pension contributions for the last three fiscal years In conclusion, the 26,556 organisations that or from the date of incorporation/registration/ were issued PCCs in 2022 remitted about licensing to the previous fiscal year of operation. N115.71 billion for their 378,096 employees.

In addition, the organisation must also attach Since the introduction of PCCs in 2012, PenCom evidence of transfer of pension funds and assets has observed substantial compliance with the for any pre-2004 retirement benefits scheme into CPS by the private sector. PenCom hereby, the employees’ RSA (where applicable); proof of reiterates its commitment to the effective remittance of all outstanding pension contributions regulation and supervision of the pension and penalties (where applicable); and evidence of industry in Nigeria.

T H I S D AY ˾ MONDAY, JANUARY 9, 2023

29

BUSINESSWORLD

STATUS REPORT

PZ Sustains Profit Growth Despite Increase in OPEX

Kayode Tokede

mid hike in operating expenses, PZ Cusson Nigeria Plc unaudited year result and accounts for the period ended May 31, 2022 showed sustained growth in profit driven by double-digit growth in revenue.

Interplay between hike in foreign exchange loss and significant increase in cost of sales had threatened the multinational company’s profit & loss figures recovery in the year under review.

The company declared a dividend of N4billion representing a payment of N 1.01 per ordinary share, The company’s revenue hits another milestone in 2022, driven by growth recorded in its home and personal care products and durable electrical appliances amid low purchasing power due to double-digit inflation, among other factors.

The breakdown of revenue in the last five-year revealed that PZ Cusson Nigeria reported N100.04billion revenue, an increase of 21.1 per cent from N82.58billion revenue reported in 2021.

The firm had reported N66.99billion revenue in 2020, a N74.34billion revenue in 2019 from N80.55billion reported in 2018 and closed 2017 with revenue of N78.22billion.

The company’s home and personal care products includes morning fresh, Zip, Canoe, Premier, Excel, Joy, Stella, Venus, Imperial leather, Cussons Baby, Original Source, Carex, Robb, among others.

A

The Dural electrical appliance of PZ Cussons includes Thermocool Refrigerators, Freezers, Televisions, Generators, Air conditioners, Washing Machines, among others.

Cost of sales for the period grew significantly 27.4 per cent to N75.7billion in 2022 from N59.48billion in 2021.

So, Cost of sales/revenue increased to 75.72per cent in 2022 from 72.03 per cent in 2021.

The growth in revenue contributed to 5.16per cent increase in gross profit to N24.3billion in 2022 from N23.09billion reported in 2021.

This dragged gross profit margin to 24.28 per cent in 2022 from 27.9 per cent in 2021. PZ Cusson Nigeria is exposed to commodity price risk arises from specific needs to buy quality and quality to meets its manufacturing standards.

These raw materials include crude palm oil, tallow, sodium silicate and linear alkly benzene. The company has been effective with its method of purchasing these materials in advances and this is based on management’s past experience with price movement in Nigeria.

Meanwhile, total operating cost of PZ Cusson Nigeria rose by nearly seven per cent to N16.9billion in 2022 from N15.86billion reported in 2021.

Due to the operating environment, the company recorded a growth in impairment of trade receivables to N139.4million in 2022 from

N85.06million in 2021.

The impairment loss as at May 31, 2022 related to several customers that are not expected to be able to pay their outstanding balances, mainly due to economic circumstances.

Interestingly, in the year under review, the company report Exchange loss of N4.2billion from N5.95billionreported in the prior year.

On this, operating profit closed 2021 at N3.08billion as against N1.19 billion operating profit recorded in 2021. PZ Cusson Nigeria reported N5.76billion income from non-core business income in 2022 from N2.07billion in 2021.

From the profit & loss figures, PZ Cusson Nigeria reported 251.96 per cent increase in interest income to N839.64million in 2022 from N238.56million in 2021 as interest cost dropped significantly by 84.6 per cent to N11million in 2022 from N71.48million in 2021.

Meanwhile, the group closed the year with N9.67billion profit before tax from N3.44 billion profit before tax reported in 2021 financial year.

With tax expenses of N3.27billion, PZ Cusson Nigeria reported profit of N6.4 billion from N1.7billion reported in 2021.

INCREASING TRADE AND OTHER PAYABLES

PZ Cusson Nigeria in 2022 unaudited financial statement reported significant increase in

trade and other payables to increase total liabilities.

As trade and other payables rose by 32.4 per cent to N57.89billion in 2022 from N43.74billion in 2021, the Group current liabilities rose by 35.4 per cent to N62.3billion in 2022 from N46billion in 2021.

Total non-current liabilities grew by 14.9per cent to N5.77billion in 2022 from N6.72billion reported in 2021.

Meanwhile, PZ Cusson Nigeria reported a 12 per cent increase in total assets to N108.05billion in 2022 from N87.34billion in 2021, while total equity gained 16 per cent to N39.96billion in 2022 from N34.55billion in 2021.

CONCLUSION

The group and company are controlled by PZ Cusson (Holdings) Limited, incorporated in the UK, which owns 73.27 per cent (2020: 73.27 per cent) of the group and company’s shares. The remaining 26.73 per cent (2020: 26.73 per cent) of the shares are widely held.

The recent performance by PZ Cusson Nigeria has not attracted local/foreign investors to its stock. With outstanding shares of 3,970,477,045.00, and trading at N11 per share as at JJanuary 05, 2023, earnings and dividend to shareholders are two intrinsic factors driving the stock price on the Nigerian Exchange Limited (NGX).

The company needed to sustain its revenue growth and source materials locally in a move to reduce cost of sales and drive bottom-line performance.

AIRTEL, DANGOTE CEMENT, 18 OTHERS CONTRIBUTED 92.6% OF N27.92TRN MARKET CAP IN 2022 positive performance of Airtel Africa, MTN Nigeria, Dangote Cement among other most valued stocks on the NGX. Other factors driving liquidity in the equities market he added are, “instant payment of dividends to shareholders through electronic means (e-dividend), provides opportunities for immediate reinvestment of these dividends, especially by institutional investors, who manage funds and portfolios for clients.”

He added that, “Negative

real return in the fixed income market and the need to hedge against inflation. Equity market is an inflation adjusting market, and so, some investors who were willing to hedge against inflation, irrespective of the downside risk that the market poses, decided to bring liquidity back to the equity market and it impacted on these companies’ stock prices.”

On his part, the doyen of the Nigerian capital market, Mr Rasheed Yusuf, said the key drivers to these stocks’

contribution to the capital market are increasing global oil price and impressive corporate earnings.

According to him, “The current global oil price that is above $100 per barrel has translated into more revenue for the federal government and more spending.

Since there is more revenue for the government, there will definitely be more spending and more business opportunities for individuals and companies listed on the NGX. Everybody was thinking Nigeria will be in

an economic crisis but with oil revenue above $100 per barrel over the Ukraine-Russia crisis, the government has been able to manage the subsidy.

“The global oil price has breathed a new life into companies in the country and investors’ expectation is that these companies will make good profit and it has contributed to growth in their stocks. Most of them recently released the 2021 financial year, first quarter results and we have seen impressive corporate

earnings. The performance of these companies has reflected in their corporate earnings Despite these companies’ contribution to overall N27.9trillion market capitalisation in 2022, some stocks recorded decline amid foreign exit due to scarcity of foreign exchange and hike in inflation rate.

For instance, Nestle Nigeria dropped by N456.50 to N1,100.00 per share from N1,556.50 per share it opened for trading, but contributed N871.9 billion to

market capitalisation in 2022.

Highly capitalised stocks such as Zenith Bank Plc, Guaranty Trust Holding Company Plc (GTCO), Stanbic IBTC Holdings Plc, FBN Holdings Plc, Access Holdings Plc, and United Bank for Africa Plc (UBA) depreciated in stock prices in 2022.

Zenith Bank dropped by N36.1 billion in market capitalisation to N753.52 billion in 2022 as GTCO dropped by N88.29 billion in market capitalisation to N676.92billion.

30

MONDAY, JANUARY 9, 2023 ˾ T H I S D AY

BUSINESSWORLD

PERSPECTIVE

How Government, Private Sector Leaders Can Win in Turbulent Times Alim Abubakre

in the past, but you cannot use it anymore these days because the competitive landscape is changing quickly.

While conventional strategy-making techniques are great, they often fail since they need to consider various eventualities.

Global financial crises, oil price spikes, wars, pandemics, climate change, digital disruptions and others can render your plans and strategies useless quickly. So, how do you survive all these and steer your organisation successfully even during such turbulent times? You need to be more deliberate about the choices (e.g., around intrapreneurship, internationalisation, acquisitions and alliances) that you make and the actions (e.g., processes, practice and leadership style) that you take to position (e.g. around; culture, resources, macro-environment and engaging stakeholders) of your organisation for enduring success. Let your strategy-making be a continuous process which entail deliberately choosing a distinct set of activities and- is responsive to changing times to deliver a unique mix of value. This is what progressive and top 5 companies such as Amazon, Walmart and Apple all have in common.

L

et’s face it! We thought COVID-19 was the worst crisis the world had ever faced, but even before its effects were over, political instability across the world began. The Russia-Ukraine war has affected supply chains worldwide, and there seems to be no relief soon. All these and others have severe effects on the global economy. Following the sharp slowdown in 2022, various international bodies have warned that there could be a recession in 2023. Indeed, in October 2022, the International Monetary Fund warned that the global economy’s growth would fall by 2.7 per cent in 2023.

As a leader, whether in government or the private sector, you have a unique role in inspiring confidence, even during times of turbulence. Already, there are signs that the projected global economic recession is beginning to bite. So, your organisational models could only succeed with proper leadership during hard times. But, while some effects are inevitable, you can prepare for the uncertain future and find a way to sail through the tough times. There are several strategies you can use to ensure that your organisation responds appropriately to the volatility that the global economy is facing now and in the future and still achieve sustainable success.

A) MENTAL HEALTH FOR LEADERS AND EMPLOYEES Working and living in times of uncertainty creates anxiety, depression, burnout and other mental-health-related issues. All these eventually affect performance, and it gets even worse when there are crises and volatilities in the market. As a leader, you are responsible for supporting activities that promote good mental wellbeing for everyone. One way to do so is to create initiatives and efforts that help reduce the effects of issues related to mental health.

In your strategies as a leader, some of the best initiatives you can try include the following: Counselling: Avail counselling to everyone and ensure leaders and employees have support when needed.

Platforms for sharing experiences: Create platforms or touch points where employees share their experiences and feelings. You can also use activities or sessions that help bring people together.

De-stigmatise mental health: Establish various programs that help de-stigmatise mental health in your organisation. The idea here is to create a community of support.

Notably, supporting mental health and wellness is a game changer. It separates organisations that thrive from those that suffer losses and stagnation, especially during crises. Moreover, unlike other challenges that affect organisations, mental wellness directly affects performance. So, let it be a priority area when leading during turbulent times just as Microsoft, Pinterest and Unilever have been taking promising steps in the right direction in employee wellbeing and in optimising performance for sustainable success.

B) EMBRACE INNOVATION & ADOPT INNOVATIVE PRACTICES As the saying goes, necessity is the mother of innovation/invention. During the COVID-19 pandemic, organisations that innovated at a fast pace thrived, while does that did not cease to exist. Chinese scientists sequenced the COVID virus in just three weeks. The UK’s National Health Service constructed a 4,000-bed capacity hospital within four days. Teams from London, Oxford and other places also developed vaccines in a few months and started testing rapidly. In addition, the CACOVID organised

F) DEVELOP CORE COMPETENCE IN ENGAGING STAKEHOLDERS LOCALLY, REGIONALLY AND GLOBALLY Abubakre

the financial muscle of the private sector and deployed resources for philanthropy offered to the downtrodden.

If you embrace innovation during a crisis, you increase your chances of survival. Your focus on innovation should be more than just during times of crisis.

If you can sustain the same efforts over time, even after a crisis, you are sure of growth and top performance. To do so, you need to replicate proxy crises and allocate resources to innovation and build a culture of learning, collaboration and exploring novel solutions. That way, you will lead your organisation to success both during turbulent and good times

messages reach the intended audience without distortion. That’s how giants sail through turbulent times and turn adversity into prosperity by building more resilient core competences that endures.

D) EMPHASIS ON PURPOSE AND CORPORATE SOCIAL RESPONSIBILITY

Contributing to the communities and societies where your profits come from is one way to win during turbulent times.

It is a move that creates a beneficial cycle that will help your organisation to remain afloat even during crisis times.

Note, however, that CSR is not just C) COMMUNICATE about giving to the community near your organisation. Your moves must be EFFECTIVELY Proper communication plays a very vital relevant and help tackle social issues, role during times of uncertainty. It enables environmental hazards, governance organisations to function effectively despite issues and others. Leaders should also disruptive events and risks. People want embrace societal leadership, which entails information, and whether good or bad, inspiring solutions that addresses society’s you need to ensure it gets to the right theming challenges. The societal leader people on time using the right platform demonstrates ethical leadership even for young folks social media could be the when others are cutting corners. They best means while older employees might embody value-based leadership, inspire prefer emails. In addition, you need to their team to embrace morality and their provide clarity and direction if you want organisation is a bastion of compelling to sustain good performance. So, you need purpose. That’s the best way to create to step up your communication, especially impact, and you, as a leader, should be at when times change and tomorrow seems the forefront when doing such activities. very uncertain. Here are suggestions that The ethical leader consistently inspire their can help you communicate effectively: UFBN UP BMXBZT FNCSBDF 1SFTJEFOU +PIO ' r $POUSPM ZPVS NFTTBHFT BOE DSFBUF POF Kennedy’s golden and evergreen advise version that all should “ask not what your country r &NQIBTJTF DMBSJUZ PWFS WPMVNF can do for you – ask what you can do r 1SPWJEF VQEBUFT SFHVMBSMZ for your country.” r %PO U HP JOUP IJEJOH XIFO UIJOHT HFU E) BE MORE STRATEGIC thick; provide leadership Leaders need to be more strategic in r 4UJDL UP GBDUT BOE BWPJE TQFDVMBUJPOT r 1SPWJEF UPPMT UP BJE DPNNVOJDBUJPO dealing with turbulent times. Traditionally, and ensure leadership is on the same as a leader, you would try to predict markets and competition and then page r +PJO UIF EPUT GPS ZPVS QFPQMF MFTU SVNPS plan accordingly. Employees and other mongering becomes the order of the stakeholders would then work with you in executing your plan. And since markets day.

It is crucially important to oversee your were relatively stable, the only task to organisational story. Provide clear direction do while executing your strategic plan is especially during crises. Make sure that monitoring and working to keep everyone communication is effective and that all on track. Such an approach worked well

Stakeholder engagement plays a very vital role in the success and growth of every organisation, especially during turbulent times. It would help if you had a plan to do such an engagement, and it should be well-structured and exhaustive. In your plan, be clear on stakeholder identification, their power, interest level and the influence they have in the day-to-day running of your organisation. You can use a matrix to define every area and make a plan for addressing every critical aspect.

To develop and enhance core competence in engaging stakeholders, use the right tools and do not leave anyone out. Engage all stakeholders, starting with local ones, those at a regional level and even those on the global stage. You may have to create smart and specific plans targeting each group. For effective communication and engagement, use the right digital tools such as big and deep data, artificial intelligence, virtual reality, augmented reality and internet of things. It saves time and ensures you include everyone. The African Continental Free Trade Agreement and Europe’s gas need due to the Russia-Ukraine war are two examples of immense opportunities that requires effective stakeholder engagement to unlock.

In conclusion, coping with the challenges of volatility, crises, and the dynamic global economy is challenging for leaders in government and the private sector these days. As a leader, you need to craft a winning strategy to keep you going and even grow despite the turbulence. Adopt the strategies shared here and improve your chances of succeeding as a leader. t %S "MJN "CVCBLSF JT PO UIF BEWJTPSZ CPBSE PG UIF -POEPO #VTJOFTT 4DIPPM "GSJDB $MVC BOE JT UIF OPO FYFDVUJWF DIBJS PG 5IFTF &YFDVUJWF .JOET 5&9&. "O PSHBOJ[BUJPO XIJDI IF GPVOEFE BOE IBT USBJOFE PWFS FYFDVUJWFT BDSPTT NVMUJQMF DPOUJOFOUT )F JT B 4FOJPS -FDUVSFS JO *OUFSOBUJPOBM #VTJOFTT BU 4IFGmFME #VTJOFTT 4DIPPM "O ""$4# BDDSFEJUFE #VTJOFTT 4DIPPM BU 4IFGmFME )BMMBN 6OJWFSTJUZ 4IFGmFME )BMMBN XBT OBNFE UIF 6OJWFSTJUZ PG UIF :FBS GPS 5FBDIJOH 2VBMJUZ CZ 5IF 5JNFT BOE 4VOEBZ 5JNFT (PPE 6OJWFSTJUZ (VJEF

T H I S D AY ˾ MONDAY, JANUARY 9, 2023

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BUSINESSWORLD

NEWS

NCAA Grants 7Star AOC for Helicopter Operation Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) has granted 7Star Airlines Limited Air Operator Certificate (AOC) to commence flight operations.

The presentation of the Operational Specifications (OpSpec) and Air Operator Certificate (AOC) took place at the NCAA’s Headquarters in Abuja on Thursday 5th January 2023. The Director, Airworthiness and Standards (DAWS), Kayode Ajiboye who represented the

Director General, presented the certificate to the 7Star team, lead by the Chairman, Daniel Richard congratulated the new entrant for successfully completing the five phase process. He praised 7Star for the display of professionalism and discipline in the course of the stringent exercise.

Ajiboye enjoined the new operator to remain exemplary by imbibing the culture of safety as their core value. This, the DAWS said, is better observed by always keeping eyes on the

ball. In his response, the Deputy Managing Director (DMD), Air Commodore Simon Okwuokei (retd) expressed satisfaction in getting the AOC that, according to him, is a milestone in the airline’s bid towards commencement of helicopter service operations. He promised to ensure that safety comes first in all of 7Star’s operations. He further commended the NCAA for the approval and assured that professionalism would be strictly adhered to.

DMD assured that 7Star

would not rest on its laurels by ensuring strict adherence to safety standards and global best practices in its operations.

He dedicated the certificate to the entire management, staff and partners of 7star for their hard work and support all through. Notable mention was NHV Group, a Belgian aviation firm with core strength in B-to-B Helicopter services. With over 25 years in operations and about 50 operational helicopters across three continents, NHV and 7star are expected to take aviation

operations to the next level.

The Chairman of 7Star airline, Chief Daniel Richard, in celebrating the feat assured Nigerians that the same way 7Star hangar, a sister company to the new 7Star airlines, did not let Nigerians and aviation community down by meeting up with global standards, is the same way the airline would follow suit. He added that beyond the helicopter operations, 7star would soon launch her fixed wing operations to give affordable

and premium aviation jet/ prop services to her clients across Africa.

7Star Airlines has a management staff with over 300 years of experience put together and with this, 7Star is ready to contribute its quota to the aviation industry by delivering the best safety and premium service to Africa.

7Star presently has helicopters to be deployed for businesses especially servicing international oil companies and other VIP movements across Africa.

C o n t r o l T V Ta s k s Media on PCC Rallies Stakeholders for Kunle Unblemished Professional Reporting Folarin’s Burial, Holds Night of Tributes Gilbert Ekugbe The Founder and Chief Executive Officer, Control TV, Mr. Gimba Umar, has tasked the Nigerian media on the delivery of unblemished professional reporting of the 2023 general elections.

Umar, at the inaugural press briefing by Control TV and Radio themed, “Leveraging on the ethics of reporting ahead of the 2023 general elections,” urged the media to resist the ultimate temptation of being cowed into tilting towards one party, maintaining that Nigerians must not be denied the right to know the truth.

“We must act with the mindset of the huge and enormous task we have signed up for.

The onus now lies on us to

ensure that professionalism is displayed and exemplified in our reporting of the 2023 general elections, for it is this period that the true test of media shall come to bear,” he urged.

According to him, the media is one of the sectors that stand a chance to be celebrated or criticised at the end of the day, advising the media to adhere strictly to the broadcasting ethics.

“The broadcasting ethics are not new to us when it comes to reports in our respective organisations with their in-house styles. To serve a refresher which goes over and above any inhouse style are the five Ws and H that stands as a guide for the delivery of unblemished professional reporting,” he said.

In his words: “ Once a reporter is able to accomplish the five Ws and H then he or she would have not only informed Nigerians accurately, but also prevented what may have been a situation tending towards chaos.

I believe we are aware of the devastating effects of fake news, no wonder masses always fall back on the reputable ones as the platforms for truth.”

He pointed out that the common denominator of codes is a professed loyalty to truth and accuracy and a concern for fairness and good taste, saying that the media performs a watch dog role for citizens by scrutinising and reporting on the recital concentration of power of which the government is the most important player.

Ahead of the scheduled burial of the late chairman of the Nigerian Ports Consultative Council (NPCC), Kunle Folarin, the Council has been galvanizing different groups of maritime industry stakeholders towards a befitting burial.

Already, the PCC has brought virtually all sectors of the Nigerian maritime industry together through a planning committee for the burial of the late icon.

Apart from being Chairman of the PCC, Folarin was also Chairman of the National Seafarers Welfare Board.

Addressing a press conference in Lagos, the acting Chairman of PCC, Mr Bolaji Sunmola disclosed details of the burial which is expected

to commence from January 19, with a Colloquium.

He confirmed that a planning Committee has been meeting and deliberating on the line up of activities leading the funeral of the late Maritime icon.

The funeral, according to the Committee will start with a Colloquium, which is being put together by the maritime media in honour of the deceased. It is billed to hold at Rockview Hotel in Apapa on Thursday January 19, 2023.

Sunmola added, “the Planning Committee is putting finishing touches to an industry Night of Tributes on the 25th of January. It is an opportunity for stakeholders to also pay their last respect

BUYER BEWARE (CAVEAT EMPTOR) RE: AUCTION: EFCC INVITES NIGERIANS TO BID FOR FORFEITED LANDED PROPERTIES NATIONWIDE Our attention has been drawn to The Cable’s publication made on 29th December 2022 by Economic and Financial Crimes Commission (EFCC) where the EFCC expressed its intention to sell some underlisted properties, particularly 24 Units of Luxurious Block of Flats situate at Block B, Bella Vista, Plot 1, Zone N, FG Layout, Banana Island, Foreshore Estate Ikoyi, Eti-Osa Lagos that are subject to Final forfeited Orders in accordance with the Economic and Financial Crimes Commission (Establishment) Act 2004, Public Procurement Act, 2007 and the Proceeds of Crime (Recovery and Management Act) 2022.

Bussecomm Nigeria Plc (Bussecomm), the head-lessor of the estate known as Bella Vista Towers, Banana Island, Ikoyi Lagos which is covered by a Federal Government Certificate of Occupancy dated 14th March 2003 and registered as Number 30 at Page 30 in Volume 93 of the Federal Lands Registry, Ikoyi Lagos wishes to inform the General Public that: There is an encumbrance on the forfeited apartments C5-21 and Block B3 Apartments in Bella Vista that is being put out for Sale by the EFCC. The encumbrance relates to outstanding service charges owed and outstanding on these apartments. A caution has been placed at the Federal Lands Registry, Ikoyi Lagos for the outstanding service charges. Kindly note that any Sale or Purchase of the said apartments will be subject to this encumbrance.

More enquiries can be made about the outstanding service charges at the Bella Vista Estate Management office in the premises at the Estate.

SIGNED:

Management of Bussecomm Nigeria Plc

to late Otunba Folarin, who served the industry for more than 50 years, the last years as the chairman of PCC”.

He added that, “stakeholders are expected to be a part of the Night of Tributes in any way that they can. We are open to suggestions and support”.

He confirmed that the night of tributes, which will also be attended by family members of the deceased is billed to hold at the prestigious Harbour Point on Victoria Island in Lagos.

According to him, the night of tributes will be followed by a Service of Songs on the 26th of January.

Sunmola confirmed that the remains of late Kunle Folarin would be committed to mother earth on Friday January 27th 2023.

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MONDAY JANUARY 9, 2023 • T H I S D AY

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T H I S D AY ˾ MONDAY, JANUARY 9, 2023

HOMES&DESIGN

Festival Hotel Lagos, a Time-tested Masterpiece The famous Festival Hotel Festac Lagos has gone from Durbar Hotel to Golden Tulip. But in all this name change, it has kept its grandeur, considering its rendition a futuristic architectural masterpiece. Bennett Oghifo writes

F

estival Hotel Festac Lagos is built on a widespread prime land between Amuwo Odofin and FESTAC. The hotel has a deep and rich history, and it’s now the property of UPDC Plc., a foremost property development with reputable facility management and advisory arms.

The four-star hotel exudes an imposing and breathtaking

architectural design infused with top-range services and facilities.

Its location and size insulate it from the noise and stress which ought to have come from the neighbourhood.

The Festival Hotel, according to the promoter, boasts 471 tastefully furnished rooms which come in the categories of comfort rooms 1 & 2, executive rooms and junior suites.

Each of these rooms is spacious and is fitted with world-class facilities, which include: high-speed wireless internet connection, air conditioners, electronic room keys, flat-screen television sets with multi-channel cable connection, refrigerator, en-suite bathrooms with complimentary toiletries, luxurious sofas plus king-sized beds.

The hotel has top-notch security, restaurants that offer a range of delicious local and intercontinental dishes, a bar and lounge fully packed, a constant power supply, adequate parking arrangements boosted by the availability of a large-sized parking garage, meeting rooms, well-equipped conference and banquet halls, a large outdoor pool and ample outdoor space for relaxation.

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MONDAY, JANUARY 9, 2023 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

Agba: National Development Plan Will Accelerate Inclusive, Private Sector-led Growth The Minister of State, Budget and National Planning, Prince Clem Agba in this interview speaks about the federal government’s National Development Plan, 2021-2025. Agba, strongly believe that the economic plan would help accelerate and sustain inclusive and private sector-led growth in the country, address critical macro-structural issues in the areas of concentric economic diversification, expand fiscal space to support higher economic and social expenditure. Obinna Chima brings the excerpts: also be a National Steering Committee (NSC) under the Chairmanship of the Vice President.

This will promote overall coordination with Ministries, Departments and Agencies (MDAs), organised private sector and CSOs.

What is the National Development Plan all about? he National Development Plan (NDP), 2021-2025 is the successor Medium Term Plan to the Economic Recovery and Growth Plan (ERGP), 2017-2020. The NDP 2021-2025 was designed to unlock the country’s potential in all sectors of the economy for a sustainable, holistic and inclusive national development; accelerate growth; deepen the initiatives for a diversified economic growth and foster sustainable development. The plan was meant to lift 35 million people out of poverty and generate 21 million jobs by 2025. The total planned investment size of the plan is N348.1 trillion and will be allocated to sectors, programmes and projects in the plan.

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Our public debt has been on the rise.

How much more does the government need to borrow to facilitate the execution of the initiatives in this plan?

Government will finance the plan directly from budgetary provision as approved by the National Assembly and provide enabling business environment for the private sector. To ensure fiscal sustainability, efforts will be made towards enhancement of domestic resources mobilisation, especially in enhancing non-oil revenue.

The target is to increase national government revenue up to 15 per cent of GDP at the end of 2025. As part of the efforts to improve revenue mobilisation, deliberate efforts are ongoing to effectively implement Strategic Revenue Growth Initiatives (SRGIs). This initiative focuses on optimizing the operational and collection efficiency of GOEs, restricting the cost-to-revenue ratio of GOEs to 50 per cent, leveraging on technology and ICT, enhancement of existing and creation of new revenue streams. Where extremely necessary government will borrow to finance capital projects that will eventually be able to pay back. In doing this, government will be mindful of the debt sustainability plan.

We have had several economic plans in the past e.g Vision 20:2020; the ERGP which you mention, that have had little or no effect on the masses, why should we expect this to be any different?

To assume that the ERGP did not have effect on the masses is not evidence based.

The ERGP was meant to ensure that Nigeria exit recession, stabilise the macro-economy and return the country to a path of positive growth.

This was achieved. Before the preparation of the NDP, government carried out the end-term review of the ERGP. The result showed that the plan significantly delivered on its key objectives. The NDP, 2021-2025 is different from other previous plans. It adopted an inclusive and participatory approach. The approach was adopted with the hindsight of the lessons learnt from the implementation of previous plans. It has three volumes with Costed Capital Programmes and Projects and also identified binding constraints for effective plan implementation. Obviously, the outcome of the implementation of the Plan will be different.

How was the plan conceived, did you get input from the states and other stakeholders?

The plan was formulated against the backdrop of several subsisting development challenges in the country and the need to tackle them within the framework of medium- and long-term plans. These challenges included low and fragile economic growth, insecurity, weak institutions, inefficient public service delivery, infrastructure deficit, climate change and weak social indicators. The plan also builds on the lessons learnt and foundation laid by previous plans.

It is unique from other previous plans because the process was not only participatory and inclusive but consultative involving a broad range of critical stakeholders. This was deliberately done for inclusiveness, participation and citizen engagement for ownership. To ensure that the new plan remains a truly National Development Plan, all the 36 states of the Federation and Federal Capital Territory Administration as well as representatives of the Local Government Councils and organised private sector, youths, labour unions, traditional and religious organisations, amongst others, were all involved in the preparation process.

Which aspects of the economy is this development plan looking to address?

The National Development Plan, 2021-2025, aims to accelerate and sustain inclusive and private sector-led growth. It will address critical macro-structural issues in the areas of concentric economic diversification, expand fiscal space to support higher economic and social expenditures and create a stable

Agba macroeconomic environment. During the plan period, government will focus on sectors with great potentials to generate jobs with multiplier effects on other sectors. The Plan will continue to invest in critical infrastructure such as power and alternative energy, rail, roads and housing. There will be renewed vigour in enhancing business and investment environment. All these will ultimately impact on the living conditions of the Nigerian people.

A lot of Nigerians believe the economy isn’t looking good at the moment with inflation on the rise, exchange rate depreciation, over 100 million Nigerians said to be living in state of multi-dimensional poverty, what role will the National Development Plan play in addressing these challenges?

Rise in inflation is a global phenomenon occasioned specifically by the lingering Russia-Ukrainian war that has impacted hugely on food prices which is the major driver of inflation in the country. The pressure on foreign exchange is as a result of the huge subsidy payments and low oil production. Conscious implementation of the nine priority areas of the plan will no doubt ensure that these structural challenges are addressed.

The plan speaks about a lot of programmes and projects; how exactly

will it be financed?

The plan has a total investment size of N348.1 trillion. Of this amount, N298.4 trillion or 86 per cent will come from the private sector, while the general government (Federal and Sub-national) will account for N49.7 trillion or 14 per cent.

Essentially, the plan will be private sector led while government provides the much needed enabling environment for businesses to thrive. In addition, financing vehicles such as Growth Funds, Securitisation and Public-Private-Partnerships (PPP), will be explored.

Also, the Infrastructure Corporation of Nigeria (InfraCo) will provide the lever for infrastructure rebirth and address the infrastructure deficit which has hampered the country’s productive capacity, constrained our product space and competitiveness.

How does the federal government intend to monitor this plan for proper evaluation and how will the general public be carried along?

The government have realised that the success of the Plan will to a large extent depend on the establishment of a strong implementation mechanism and framework that promotes performance and accountability. It is against this backdrop that a Development Plan Implementation Unit (PIU) will be established in the Ministry. There will

There is going to be a change in government and governance come February 2023, won’t this end up being another abandoned project?

The structure of the plan will make it difficult for it to be another abandoned project as the plan has already taken this into consideration during the formulation. The plan has 3 volumes: Volume I is the policy document which is structured around seven cluster areas Economic Growth and Development; Infrastructure; Public Administration (Public Sector Reforms); Human Capital Development; Social Development; Regional Development; and Plan Implementation, Communication, Financing, Monitoring and Evaluation; Volume 2 contains the prioritised costed capital projects and programmes that will form the foundation of the Federal Government’s annual budget; and Volume 3 deals with the legislative imperatives which contains the identified binding constraints to Plan implementation. In this regard, 18 laws and 10 policies that constrain Plan implementation that need to be reviewed or amended were identified. Government is also working with the National Assembly to pass into law the Development Planning and Project Continuity Bill to ensure that the plan will not turn out to an abandoned project.

What timelines should the masses be working with in accessing and evaluating this plan?

The National Development Plan, 20212025 is due for mid-term review in 2023 and the government is already making necessary preparations for the review. This is consistent with international best practice for mid-term and end-term review of Plans.

In addition, government has institutionalized the process of tracking and evaluating Plan implementation by setting up the Development Plan Implementation Unit with membership drawn from relevant MDAs, civil society organisations and organised private sector.

T H I S D AY ˾ MONDAY, JANUARY 9, 2023

35

BUSINESS SPECIAL

ANALYSIS

CAMA 2020 and End of Authorised Share Capital Regime: Implications for Companies Abimbola Izu

public companies, and such power must of necessity be exercised by the shareholders at the general meeting.

Furthermore, Regulation 14 (3) of 2021 made by the Minister of Trade and Industry is a mere regulation made pursuant to Sec 867 of CAMA. By the well settled principles of law, it is a subsidiary and inferior instrument and as such cannot amend, contravene or seek to vary the express provisions of an Act of the National Assembly.

Wherever there is a conflict between the Act, and any regulation or subsidiary instrument made under it, the provisions of the Act must of necessity prevail. To the extent that Regulation 14 (3) therefore seeks to give to public companies prerogatives that have been expressly excluded by CAMA, an Act of the National Assembly, one is of the view that the provision cannot stand.

As such with respect to public companies, it appears that the combined provisions of Sec 149 (2) of CAMA and 88 of ISA, have done nothing to shift the arduous responsibility and need to return to the general meeting for allotment of shares in any event, and neither can Regulation 14 (3) come to their aid. Sec 88 of ISA clearly states that the responsibility for allotment shall be by the issuer, together with the issuing house, the issuer being the issuing company. In the reality of Sec 127 (1) and 149 (1) that withdrew from the shareholders, the hitherto existing power to delegate such powers to directors as it existed under Sec 124 of CAMA 2004, it does appear that public companies must of necessity return to shareholders at a general meeting for any form of allotment.

T

he Companies and Allied Matters Act (CAMA) 2020 was a radical departure from CAMA 2004 in many respects. One of such departure was the requirement for all shares in the capital of all limited liability companies to be fully issued, thus effectively outlawing the concept of “authorised share capital.”

Section 124 (1) of CAMA provides that the amount of share capital stated in the memorandum of newly registered companies shall not be less than the minimum issued share capital. Sec 124 (2) re-emphasised the point by prohibiting the registration of any company with a share capital less than the minimum issued share capital.

Sec 124 (3) further provides that existing companies must issue any unissued shares in their capital within 6 months of the commencement of the Act. This deadline was subsequently extended till December 31, 2022 via an amendment to Regulation 13 of the Companies Regulations, 2021, by the Minister for Trade and Industry, being the supervisory minister, in exercise of the powers conferred in that behalf by CAMA. Some practitioners have opined that perhaps the requirement to issue all un-issued capital applies only to newly formed companies. However, this position is inconsistent with the very clear provisions of Sec 124 (3) and (4) that very specifically prescribe a period within which all existing companies must issue previously unissued shares in their capital. Others have suggested that the provision contemplates the minimum share capital, which, in their view, is N100,000.00 for private companies, and N2m for publicly quoted companies as set out in Sec 27 (2) of CAMA. Again, in one’s opinion, this position is not supported by CAMA. Sec 27 (2) of CAMA provides as follows: Sec. 27 (2) “If the company has a share capital – (a) The memorandum of association shall also state the amount of the minimum issued share capital which shall not be less than N100,000.00, in the case of a private company and N2,000,000.00, in the case of a public company, with which the company proposes to be registered, and the division thereof into shares of a fixed amount.”

The clear meaning of this provision is that each company must have a minimum share capital, and companies are free to determine what that minimum capital would be, provided it is not lower than the threshold set. The section did not by any means prescribe the above amounts as the minimum capital for companies. Rather, it allows each company to set its own minimum share capital, but only gave the floor below which that discretion cannot be exercised. However, whatever the company eventually sets in its memorandum of association becomes its minimum share capital, and all provisions in the Act relating to minimum share capital, of necessity refers to that amount. By the combined provisions of Sec 27 (2) (a), and Sec 124 (1-4), no company is allowed to hold any share capital, other than fully issued ones, and the fully issued capital must be equal to whatever the minimum share capital the company sets for itself in its memorandum of association.

Regulation 13 of April 16, 2021 as amended (Regulation 13) has, in the past couple of months, acquired notoriety, as many companies struggled with the implications of this, and how to ensure compliance. As far as one knows, there were several high - level individual and group engagements with the Corporate Affairs Commission (CAC) with a view to understanding the full import of this regulation, possibility of a further extension of time for compliance, and indeed what options are available. In the end, companies were advised to pass resolutions on cancellation of the shares at their AGMs or simply issue and allot the unissued shares. The reasoning probably was that the obvious loss would be the statutory fees by way of stamp duties and CAC filing fees paid on those shares (which may be significant, depending on the quantum of shares involved), which, by their cancellation, would be forfeited. This advise was heeded by many companies.

While appreciating the constraints faced by companies and the rationale for taking what looks like an easy way out, one feels the need to examine the bigger implications posed by this statutory provision, and its implementation.

One is hoping that this may trigger some discourse that may facilitate a review of the positions.

Issue or allotment?

Sec 124 of CAMA requires companies to issue all their share capital. It is however unclear what exactly is meant by “issued”. Section 868 of CAMA defined “issued” within two contexts as follows: “issued generally” means in relation to a prospectus, issued to persons who are not existing members or debenture holders of the company. “issued share capital” in relation to any reduction has the meaning assigned by Sec 124 (2) of this Act” It is clear that “issued” or “issued share capital” within the context of an increase in share capital is not contemplated in either definitions provided. We thus must look to general commercial usage for meaning and context.

Commercially, “issued” within the context of share capital of a company is generally understood to mean that portion of the share capital of the company that was appropriated for subscription by shareholders in pursuance of a capital raise. Were this understanding to be

IMPLICATIONS AND PRACTICAL CHALLENGES.

Izu the contemplation of CAMA, the mere appropriation of shares for issuance under a proposed capital raise would have sufficiently met the requirement of Sec 124 (1-4). However, it appears that CAMA’s actual intended meaning or application of this word is “allotment”. This is more so when we consider Sec 127(1) which provides as follows: “A company having a share capital, may, in general meeting, and not otherwise, increase its issued share capital by the allotment of new shares of such amount as it considers expedient”. (emphasis supplied).

By this provision, it is clear that the only way the issued capital of a company can now be increased is by allotment. This means therefore, CAMA does not contemplate the mere appropriation of shares for subscription as “issued”. Rather, it is the allotment of such shares that is considered the issuance thereof. Thus, CAMA seems to have treated both issuance and allotment as one and the same. The significance of this treatment will become obvious in subsequent paragraphs.

By Sec 127 already referred to, a company can only increase its share capital at the general meeting and at the time of the increase, it must be allotted for the increase to be valid. In fact, Regulation 14 (1) of 2021 amplified this provision very clearly by stating that “Allotment of shares shall be done at the same time the shares are issued”.

In effect, companies willing to increase their share capital must already be clear of the following at the time of approaching the general meeting (a) how many new shares the company wishes to create, (b) who the shares will be allotted to, (c) the price at which the shares will be allotted and (d) the shares must then be allotted to the proposed allottees at the same general meeting at which the shares were issued.

Before considering the practical implications of these issues, it is important to consider the provisions of CAMA 2020 with respect to allotment of shares.

POWER OF ALLOTMENT UNDER CAMA 2020.

Sec 127 (1) of CAMA 2020 reproduced above, seems to have exclusively reserved the power to allot shares for the shareholders at the general meeting.

This compares with Sec 124 of CAMA 2004 which vested the powers to allot in the general meeting, but which may be delegated to the directors whether for private or public companies. Pursuant to that provision, the general practice with most private and public companies alike was that they found it more convenient and commercially expedient to empower directors to deal with such matters.

However, this position, and the possibility of doing so, seem to have been significantly impaired by CAMA 2020.

The prohibition of allotment of shares other than at general meeting contained in Sec 127 (1) seemed to have been amplified by Sec 149 (1) and (2) of CAMA 2020 which provide that the power to allot

shares is vested in the company and with respect to a private company, may be delegated to the directors, while with respect to a public company, it is subject to the provisions of the Investment and Securities Act (ISA), 2007. Many practitioners have taken solace in this provision and Regulation 14 (2) of 2021 which restated the powers of the shareholders to delegate the powers to allot shares to the directors of private companies as provided in Sec 149 (1). It therefore seems notionally, that the challenges highlighted above would be of no worry to private companies.

The above provisions notwithstanding, with respect to private companies, in one’s humble view, there appears a conflict between the very forceful and prohibiting provision of Sec 127 (1) which provides that the exercise of allotment may only be done at a general meeting “and not otherwise”…, and Sec 149 (1) and Regulation 14 (2) which suggest that the exercise may be done by directors under a delegated authority from the general meeting.

We wait to see how this potential conflict will be resolved by the regulators and operators, in the coming periods. Importantly, it will also be useful to see what the leaning of the courts would be in the event that a shareholder decides to vent his grievance against the exercise of such powers by directors.

The position with public companies is a lot more concerning. One is mindful of Regulation 14 (3) which provides that directors of a public company may allot shares if they have been so authorized by their articles, or specifically by the general meeting for a specific offer. This appears an attempt by the regulators to place a bridge over what patently is troubled waters. The challenge however is the integrity of the bridge and whether it can, and will stand any legal scrutiny at the suit of an aggrieved person in time to come.

It may be useful to consider again the provision of Sec 149 (1) which states: “The power to allot shares is vested in the company, and in relation to a private company, this power may be delegated to the directors…” (emphasis supplied).

By the well settled principle of interpretation captured in the Latin maxim “expression unius est exclusion alterius” meaning “the expression of one thing is to exclude another”, the express mention of private companies with respect to the possibility of delegating the powers of allotment to their directors, very clearly excludes that possibility for public companies. Moreover, recognizing that this is a departure from what obtained in the repealed CAMA 2004, it is clear that it is the intention of the lawmakers of CAMA 2020 to limit the exercise of that prerogative to only private companies, else it would have reproduced what obtained previously in CAMA 2004, as it did in many other provisions. Accordingly, one opines that CAMA 2020 has withdrawn the possibility of delegation of the powers to allot to the directors of

There are a number of complications that will arise with the above outcomes. For a private company, it may be possible for the proposed allottees of new shares to have been identified and commitments obtained from them before formally approaching the general meeting to seek enablement to create, issue and allot the shares.

It may also be possible for the process of allotment to be done by directors under a delegated authority, if that position is upheld by stakeholders and by the courts, when tested. Not so for a public company. Given the typically diverse and large nature of shareholding of publicly quoted companies, this appears a potential challenge. From a practical standpoint, how would a publicly quoted company with more than 300,000 shareholders for instance, ever be able to increase its share capital by “issuing” and allotting shares at the time of creation at the general meeting?

The challenge seems even more complicated by the pre-emptive rights of existing shareholders over all newly created shares hitherto applicable to only private companies under CAMA 2004, which has now been extended as a mandatory provision to all companies, public companies inclusive, by virtue of Sec 142 (1) of CAMA 2020. By this provision, a public company seeking to raise capital, and increase its issued share capital must first offer the proposed new shares to existing shareholders by way of rights issue in the proportion of their shareholding. Notionally, it appears that by commencing capital increases by way of rights issues, companies may be able to circumvent the immediate challenge posed by the requirement to allot the shares at the time of increase and issuance, since the existing shareholders who are the potential allottees of the rights issues are already known. However, this is a mere deferment of the real challenge. In the event of undersubscription of the rights issue, it does appear that companies would be confronted with one of at least two realities, either (a) return to the general meeting for further empowerment to offer the shares by way of public offer, or (b) cancel the unsubscribed shares, since there must not be any “unissued” (i.e “unallotted”) shares. To be fair, it is possible to propose and obtain anticipatory approvals that will enable the company undertake a public offer in the event of undersubscription of a rights issue, at the same time the resolution for rights issues is being proposed. However, one is of the view that by CAMA 2020, directors must still return to the general meeting before shares can be allotted pursuant to any such pubic offer. The nightmare of the multiple general meetings, layers of approvals and multiple costs involved to consummate a simple increase of capital and allotment of shares, as a consequence of this, can only best be imagined for now.

Aside the challenge with the necessary implication of knowing who the subscribers would be before a capital increase can be initiated, and the attendant costs and troubles of many layers of general meetings, there is also the challenge of pricing. By Sections 141 and 142 of CAMA, shares of companies are expected to be issued at a price, not being charitable institutions.

The requirement for shares to be increased only by allotment, which must be done at the same time with issuance, means necessarily that at the time of approaching the general meeting for an increase, the price of the shares must have been determined, else it cannot be allotted. This removes the discretion and flexibility that directors hitherto had in determining prices in response to market realities. t *[V JT B QBSUOFS XJUI 1PSUBMMT "EWJTPSZ 4FSWJDFT B mSN PG $PNNFSDJBM 4PMJDJUPST BOE DPSQPSBUF HPWFSOBODF $POTVMUBOUT 4IF XSPUF GSPN -BHPT NOTE: The story continue online on www.thisdaylive.com

36

T H I S D AY ˾ DAY JANUARY 9, 2023

CITYSTRINGS

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

Beyond Reporting, Journalists Put Smiles on Faces of Abuja Orphans Udora Orizu writes that members of the House of Representatives press corps in the spirit of Christmas, visited Abuja Children’s Home, Karu in the Federal Capital Territory, FCT, to present food items and clothes

House of Representatives press corps at the Abuja Children’s Home, Karu in the Federal Capital Territory, FCT

O

n December 23rd, 2022, members of the House of Representatives press corps visited Abuja Children’s Home, Karu in the Federal Capital Territory (FCT) to present food items and clothes, in the spirit of Christmas.

The environment at Abuja children's home, Karu was serene. The children were filled with high enthusiasm as they welcomed journalists.

They are already familiar with such visits, from well spirited corporate organisations as well as individuals who come to donate food items and sundry items to the orphanage.

Though an orphan, (name withheld) admitted they are being treated well at the orphanage home, they are still not left without their challenges.

There is nothing more traumatic for a child than to see a parent die. Added to this tragedy is the loss of adult guidance or custodian.

In 2005, the United Nations reported that there was an estimated 132 million orphans in sub Saharan Africa, Asia, Latin America and the Caribbean. This figure, according to UN represents not only children who have lost both parents but also those who have lost a father but have a surviving mother or have lost their mother but have a surviving father.

According to a report by UNICEF in 2008, there are 17.5 million Orphans and Vulnerable Children (OVC) in Nigeria, out of which 9.7 million are single or double orphans.

Poverty seems to be a major factor for placing a child in an orphanage or other institutional care homes in Nigeria. These children are left to experience untold economic hardship, lack of love, withdrawal from school, poor health, psychological and emotional difficulties.

Without taking determined steps to address the specific needs of children, there will be no chance of meeting the Millennium Development Goals. Various Non-Governmental organizations have been trying to get as many people and the government to take the plight of orphaned children more seriously.

House of Reps Press Corps Visit Only a few persons might have given a thought to how thousands of children in orphanages across Nigeria are coping with life. Such persons are journalists covering the House of Representatives.

For operators of orphanages, it has been loud lamentations over lack or shortage of finance and other materials to properly take care of the abandoned children.

During the press corps visit led by its Chairperson, Lady Grace Ike, the administrator, Abuja Children’s Home, Karu, FCT, Musa Danjuma Yakubu said that the major challenges they had at the orphanage were insecurity, dilapidated buildings and inadequate food for the children.

Yakubu while acknowledging the kind gesture of some Nigerians who have made

donations and also helped to build or renovate some structures in the home said: “We appreciate your coming and the most important thing, you talked about feeding, it is not little as you see.

"We appreciate the effort of your people. There is nothing that is too small for us. Every other thing, whether food, school fees and all those things, we appreciate and it is people like you among other people who come to help with one thing other the other.

"The school, we have students that are even in the university and one graduated and is already working. Another is in four hundred level and one would be going to Nassarawa State University by February next year. So, we appreciate your coming.

"What you have brought, we would use it judiciously and the challenges are surplus both security wise. Just like somebody said he

was here ten years ago, the perimeter fencing has broken down. And we have a building that is almost sinking, the girls hostel. It was donated by one organization but I think there is a problem with the water system. I know water must find its level so it is sinking.

“We are also hoping that with time somebody would take up the responsibility of renovating them. And if you look a few metres away, it was recently commissioned on 16th of December 2022, a skills acquisition centre donated NDIC. A part of it has been completed.

"We want to equip it. We have some tailors among our children. Some do shoemaking.

The one I am wearing was done by one of our children in this. He knows how to do it. He does it once in a while he is still in secondary school. We have a lady that just graduated from hairdressing. She also acquired a skill in hairdressing.

“Other challenges: If you look at our vehicles, they are almost obsolete. We do not even have utility vehicles. We have buses. One is grounded and another is working but just halfway, it is down. The hostels are in order.

The female hostel is there. The male hostel

Yes, people might assume the primary responsibility of a journalist is to inform, educate and entertain but we also care because we are the conscience of the society. Please, accept our token donation. Do not look at the quantity but the intention behind itwhich is love

is there and we have nannies that take care of them.

"They do shifts and once in a week, they go.

We have a dining hall that they gather to eat and the school, some go to secondary school.

We have a physically challenged that attends school in Kuje. So, she goes there and we look for nanny that would take care of her. And one goes to a secondary school nearby but the primary school is just within the home.

So, these are basic things that we have and we have a hall.

"Sometimes, we rent it out for activities. The only thing is that we do not allow alcohol here so that it does not have a negative effect on our children and we have a chapel for Christian and a mosque for Moslems. All were donated by individuals”.

Presenting the items which includes bags of rice, cartoons of noodles, clothes, etc, the Chairperson of the Press Corps, Grace Ike said that love for the children and mankind in general was the motivation for the visit.

She appealed to well spirited individuals to make out time to visit the orphanages and spread love.

“We are members of the House of Representatives’ Press Corps. In other words, we are journalists who report from the House of Representatives. Christmas is the celebration of the birth of Jesus who offered to die for the sins of mankind. It is therefore, a season of love and sharing and we decided to come and see our brothers and sisters here and share the little we have with them.

“Jesus said love is the greatest. We believe that one must not be a millionaire before extending a hand of love and fellowship to another human being. Our being here is not to show that we have in abundance but it is to demonstrate our love and care to one another. The children you have here have blood flowing in their veins like every other human being and therefore deserve love and care.

"Yes, people might assume the primary responsibility of a journalist is to inform, educate and entertain but we also care because we are the conscience of the society. Please, accept our token donation. Do not look at the quantity but the intention behind it- which is love.

“I will also use this opportunity to appeal to other spirited individuals to always remember our children in orphanages and hospices. We know that the government alone cannot do it but with the assistance of other well-meaning Nigerians, the welfare and condition of our orphanages will be improved.

"I commend the management and staff of the home for the wonderful work they are doing and pray that God almighty will reward you more abundantly. For the children, you are the leaders of tomorrow and I encourage you to be obedient and listen to instructions so you will grow to be responsible citizens”, she said.

37

T H I S D AY ˾ DAY ͷ˜ 2023

CRIME

Nigeria International Passport System and Allegations of Underhand Dealings The trust deficit between the Nigerian youths and government agencies and parastatals has created forum for false information, largely disseminated through the social media. Olufemi Emiloju writes that the distrust by the public has created fertile ground for the spread of false information about the Nigeria Immigration Service

T

he Nigeria Immigration Service (NIS) has been facing backlash on the social media, especially over issues that have to do with issuance of International Passports.

While some claim Immigration Staffs are into Passport racketing others are spreading the information that NIS is hoarding booklets, all these were some of the issues that were clarified by the Passport Control Officer of the Ikoyi passport office Lagos, Deputy Comptroller of Immigration (DCI) Aiyegbusi Olugbenga Odunayo.

Mr. Ayegbusi quashed the notion that Immigration officials are into racketeering and described racketeering as “a myth and something that is not real”. The well-travelled Immigration Chief who had traversed the length and breadth of the country in the course of the service, had worked as a Personal Assistant to Comptrollers, as PRO to acting Comptroller-General, he also worked in Benin as a PRO to an Assistant Comptroller, also as PA to a passport officer in Ondo State, and at other times directing staff in training school and many more other duties assigned to him.

The Immigration chief who is talking from a place of experience especially on the e-passport because he was in charge of the Alausa Passport Office as he was acting as the PCO, as the substantive PCO was out for a course when the enhanced e-Passport was launched. He explained that the fact the he was the one coordinating the operations during this period exposed him to a lot and that the general belief that people could racket the passport was a lie.

The DCI further explained that the time to process International Passport in Nigeria is even faster than the time to do so in so many advanced countries.

“Appointment is not peculiar to Nigeria alone. In the UK for instance, if you are not paying service charge to the UK government, if you are not on fast track by the government then you must queue for 10 to 14 weeks,” he explained.

He stated further that the many talks about having longer time to apply for passport in Nigeria is a normal practice all over the world and that it is not out of order to ask Nigerians to queue for the same process.

“For Nigeria to say you have to wait for appointments it’s not an error, it’s

Aiyegbusi

not a new thing. It will give room for others because you are only welcomed to the office on the day you have an appointment. If you go there before your appointment, you will constitute a nuisance. You go on your day of appointment, your name and details are on the system and they check your facilities, open files for you and you do captioning,” he said.

According to him, "the new system is what they now call; Operation do it yourself. Which is that you can now start the process of securing your international

passport at your own leisure; you can make payment for your passport online without any third party, where the system will give you date for capture and you will be able to print it out.

Mr. Aiyegbusi explained, “It’s on our website, you can Google it and pay yourself. There is no additional money; if you pay excess money the machine will not accept it because it is an error, it is already configured like that. We made sure we configured it that way to avoid stampedes in the passport offices.”

He further explained that the new system is the best obtainable globally and since its introduction Nigerians are saved from exposure to questionable individuals who may want to fleece them of their money. He also revealed

that this has also helped to reduce the crowd that usually besiege passport offices since only the few that have genuine things to do are the only ones expected to be available.

On the availability of passport booklets, the DCI explained that passport scarcity has become a thing of the past.

“Under the Minister of Interior, Ogbeni Rafu Aregbesola and my hardworking Comptroller-General of Immigration, Isah Jere Idris, we have enough booklets. Let me use Ikoyi as a case study. When you come there, you will leave smiling. We thank God because things have normalized. Nigerians are good people; they only want correct information.

"When you update them with correct information, they will follow you.

When they find out that there is no discrimination, whether you are rich, poor or average, you are treated as a human being, the CG affirms that everyone is treated equally. So, there have been a lot of improvements, and people are happy” he stated.

Mr. Olugbenga Ayegbusi also explained that the works of the men of Nigerian Immigration Service is not restricted only to issuance of passport and that Immigration is an Act of Parliament.

According to him, “It is entrenched in the constitution. We have a lot of laws, principles and conventions that guard and guide our profession such as Immigration Regulation and Act. All those things guide and guard our system and operation. We interpret the visa collected all over the world; we understand counterfeit visas when foreigners present one. We know our visa they have collected from consulates all over the world, we interpret them.

“Like the foreigners, seen on arrival, seen on departure, arrived; all these are fundamental technicalities entrenched in the operations of an Immigration officer and that is not what just anybody can do. Clarification and interpretation of visa, when you overstay, when you should not have arrived, like innards.

"Mind you, Innards are people that want to move themselves to Nigeria without a proper visa, Immigration officers will be at the airport not to allow someone who is not from Nigeria to come into the country without proper documentation and reasons. This helps us to stop what we call internal subversion and then external inversion. An economic system needs a viable political system and a political system needs an economic base to survive.”

NAF Promises Synergy with Security Agencies in Lagos Rebecca Ejifoma

I

n propelling unity among personnel of the Air Force, the Nigerian Air Force (NAF) has promised synergy with other security agencies in Lagos state to ensure peace and harmony while also striving for its personnel to function effectively.

The Commander 651 Base Services Group, AVM Adekunle Martins, remarked on this at the 2022 Base Sociocultural activities (BASA) powered by the Logistics Command, Sam Ethnan Base in the Ikeja area of Lagos state.

While describing BASA as an age-long social event of the military dating back to the 2nd World war, he appreciated the adjoining communities and their leaders for creating an enabling environment for NAF to operate and

carry out its constitutional mandate.

According to the commander, BASA is meant to foster comradeship among the officers and men.

He added, “It is an event purposefully designed to bring families of personnel together to bridge the gap between their contemporaries from their various geopolitical zones.”

Martins acknowledged the visionary leadership of the Chief of the Air Staff, Air Marshal Isiaka Amao the 2022 BASA celebration was approved.

“This among other things will ensure unity among

families of NAF personnel residing in Lagos and impact good cultural value to their children. It will also help in discovering young talents among the barrack youths.”

On his part, the Special Guest of Honour, the Elewu of Ewu Land, (Oba) Shakirudeen Kuti commended BASA as an event that has improved the cordial relationship between the NAF and its host communities.

He added: “I am delighted with the various performances which have greatly showcased our rich cultural heritage from our diverse regions.

"I commend the Air Officer Commanding Logistics Command and the entire Base community for sustaining this event for personnel and our wards.”

Represented by the Aro of Ewu Land, Samsodeen Akinyemi, the Oba

appreciated “the gallant personnel of NAF” for their constant sacrifices in safeguarding the nation.

He further pledged to throw his weight behind the force. “We will continue to support and pray for the military and their leaders as we hope for a peaceful Nigeria.

"I, therefore, ask the military authorities to please ensure that this type of event remains a yearly activity as its importance cannot be overemphasised.”

BASA delighted guests and families of personnel with a belting performance by the troupes of multicultural dancers from the east, west, north and southern parts of the nation.

There were other activities like tug-of-war, spinning and aiming for the goalpost, a football match, music, networking and much more.

T H I S D AY ˾ DAY, JANUARY 9, 2023

38

BUSINESS/MONEYGUIDE

SEC: Prudential Returns Compliance Level Boosted by 96% in 2022 Kayode Tokede The Securities and Exchange Commission (SEC) has stated that it has continued to employ its compliance tool to ensure that only fit and proper capital market operators practice in the market.

This the Commission said, has resulted to an improved level of compliance with filing of prudential returns rising to 96per cent in 2022 compared with 81per cent in 2021.

Director General of the SEC, Mr. Lamido Yuguda who stated this during an interview, described it as a welcome development given the Commission’s quest to pursue a capital market that is based on the principles of increased transparency, efficiency and global competitiveness.

He described year 2022 as another eventful year in which the Commission continued its implementation of sound initiatives that are expected to bring about the much desired market development that would not only deepen the market but also ensure the continued protection

of investors.

According to him, “The Commission released Guidelines on the Implementation of Sections 60-63 of the Investments and Securities Act 2007.The NCMI organized training for CEOs, CFOs and other officers of public companies to facilitate their compliance. The Commission also provided filing options for Audited (Annual) and Fourth Quarter Financial Statements.

“The Commission has conducted the Risk Based Supervision (RBS) examination on 20 capital market subsidiaries of five Financial Holding Companies aimed at supporting the entire financial system stability.

“To further protect investors and boost confidence in the Market, the Commission has commenced implementation of 100 per cent custody requirement on all Collective Investment Schemes (CIS).

“Also, after a thorough review of the status of privately managed funds, the Commission mandated that Rule 95 should also

apply to all Discretionary/ Non-Discretionary Portfolios and Products to ensure the protection of investors’ funds in the Fund Management space”.

The SEC DG Disclosed that a comprehensive on-site inspection exercise was successfully carried out on the 95 registered Fund Managers to ensure that both the Public and Private Funds registered by the Commission are being operated in line with the relevant Rules and Regulations.

On Non-Interest, Yuguda stated that the Commission, working jointly with the Federal Inland Revenue Service (FIRS), the Non-Interest Finance Committee of the CMC and other stakeholders has developed a taxation regulation on noninterest finance.

The Non-Interest Finance (taxation) regulation he stated, has been approved by the Honourable Minister of Finance, Budget and National Planning, and has already been gazetted.

This is a positive development that will spur investments in Non-Interest Capital Market products.

‘Property Investment Will be the Leverage Point in 2023’ Kayode Tokede The Chief Executive of Wealth Island Properties Africa, Tade Cash, has said that Property Investment for discerning people will keep them afloat in the economic situation in 2023, given the economic outlook.

According to the entrepreneur of several sold-out property projects: “I have two degrees in Economics. And that positions me to be able to analyse the impending economic situation. This is against the parameters that have been laid out by experts, and the present state of the country to predict the economic outlook.

“Nigeria is not in dire strait like most people think and are predicting, the economy will defy the dynamics that most people are used to, and that is where the confusion starts to form.

But. Some investment options have proven over-time to be more predictable in difficult times like this.”

Cash added that the govern-

ment’s struggle to solve the housing problem for a growing population is already challenged, in the face of the hydra-headed social, security, and electoral situation that the new year poses.

But a property investment gives an assurance of stability and the highest possible return on investment because it comes as a practical value and solution to the problem the country presently faces.

“In times like this, money doesn’t reduce in circulation, it only moves from one sector to another sector where its value is best appreciated. Property and housing for the under-served environment like Nigeria give investors an advantage.” He said.

Wealth Island Property Africa, with over a decade, and ten projects running, Tade says has earned the ropes to be able to speak on the subject and especially guide willing investors on the path to safety around the industry.

He added, “During the pandemic, which heralded almost two years of economic shock; from January 2020, we were able to guide investors that subscribed to us to their biggest profit to date. It is an environment we understand quite well and are willing to guide new prospects.”

Esan said seasons like this when the environment is rife with news of uncertainty position smart investors to minimize risks by pitching with experts and investments that are proven and certain.

“We follow a “ Certaintymodel “ that makes real estate produces at all time but much more in different times like this time. Ponzi Schemes are all over the place and their promoters will be about town to douse the news of the uncertain times that the economic outlook has predicted, but none of them has tried any of those before. Only wise investments in property and through a proven organization like us will guide investors aright.

Delta Introduced Fast, Free Onboard WI-FI Delta Air Lines said it would offer fast, free Wi-Fi in partnership with T-Mobile to all customers on board most domestic mainline flights beginning from Feb. 1 2023 and would be the first major US airline to offer free Wi-Fi as a core element of its customer experience.

The airline also said it would offer the service on more than 700 Viasat-equipped aircraft by the end of 2023. Delta also announced plans to bring free Wi-Fi on international and regional aircraft by the end of 2024.2 “At work, at home and everywhere in between, connectivity is essential to daily life, and your journey on Delta should be no different,” said Delta CEO Ed Bastian at CES 2023 in Las Vegas.

“Our vision has long been to deliver an experience at 30,000

feet that feels similar to what our customers have available on the ground.”

Designed to fuel Delta’s vision of more personalized travel, customers will log in using their Delta SkyMiles account or join SkyMiles on the ground or in the air for free to connect.

“At T-Mobile, we believe staying connected while traveling should be an easy, seamless experience,” said Mike Sievert, T-Mobile CEO. “T-Mobile customers already get free in-flight Wi-Fi and now we’re partnering with Delta to bring that experience to all customers — regardless of their wireless provider — so that anyone flying Delta can enjoy online access from takeoff to touchdown.”

Delta also announced its plans for Delta Sync Exclusives hub — a new SkyMiles-unlocked

mobile platform coming this spring aimed at elevating the in-flight connectivity experience with exclusive offers, access and entertainment from beloved brands that are mainstays of everyday life. Delta will launch Delta Sync Exclusives hub later this spring.

Delta has long used technology as a tool to further its mission of connecting people and to redefine consumer expectations.

Working with engineers from Viasat — the satellite internet service provider behind the airline’s connectivity revolution — teams at Delta have applied a rigorous approach to testing, learning and scaling best-in-class in-flight connectivity, with an eye toward rolling out the new system on more routes at an unprecedented scale by the end of 2024.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

The price of OPEC basket of thirteen crudes stood at $92.17 a barrel on Monday, compared with $92.09 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

39

T H I S D AY ˾ DAY, ͷ˜ 2023

Stock Market Drops by N15.6bn in 2023 First Trading Week Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) depreciated by N15.6billion in the first trading week in 2023 as investors weak sentiment rock large and middle capitalised stocks.

The market capitalisation dropped to N27.899 trillion from N27.915trillion it closed for trading in 2022, representing a decline of N15.64 billion.

Consequently, the NGX All-

Share Index went down by 0.06 per cent to 51,222.34 basis points from 51,251.06 basis points it opened for trading.

Selloffs in Airtel Africa (- 5.2 per cent) and BUA Cement (-1.8 per cent) amid investors hunting bargain in BUA Foods (+14.6 per cent), while Nigeria Brewery (+14.6 per cent) to drive the weekly loss.

Based on the preceding, the Year-till-Date (YtD) return for the index printed -0.1per cent.

Analysing activity levels, the

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

total volume traded declined by 51.0per cent w/w while the total value traded increased by 43.0per cent week-on-week Save for Industrial Goods (-0.6per cent) index that declined, all other sectoral indices— Consumer Goods (+6.4per cent), Banking (+4.3per cent), Insurance (+2.7per cent), and Oil and Gas (+0.1per cent) – recorded gains.

The market opened for four trading days this week as the Federal Government declared

S E C U R I T I E S QUANTITY TRADED

VALUE TRADED ( N )

Monday 2nd January 2023 a public holiday to mark the New Year celebration.

According to the NGX weekly report, a total turnover of 921.856 million shares worth N27.154 billion in 15,601 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.880 billion shares valued at N18.988 billion that exchanged hands in 12,036 deals prior’s week trading activities.

T R A D E D MAIN BOARD

The report stated that, “The Financial Services Industry (measured by volume) led the activity chart with 616.527 million shares valued at N6.452 billion traded in 7,208 deals; thus contributing 66.88 per cent and 23.76 per cent to the total equity turnover volume and value respectively.

“The Industrial Goods Industry followed with 138.314 million shares worth N13.356 billion in 1,063 deals. The third place was the Conglomerates Industry,

AS O F

with a turnover of 55.931 million shares worth N92.845 million in 502 deals.”

Analysts at Cordros Research said, “In the interim, we believe positioning for 2022FY earnings releases and accompanying dividends declarations will continue to support buying activities on the local bourse even as institutional investors continue to search for clues on the direction of yields in the FI market.

0 6 / 0 1 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

40

MONDAY JANUARY 9, 2023 • T H I S D AY

41

MONDAY, JANUARY 9, 2023 • T H I S D AY

NEWS

THANKSGIVING SERVICE FOR PA OMOIGUI… L-R: Eldest daughter of Late Surveyor General, Ifueko Omoigui -Okauru; Director General, Governors’ Forum, Asishana Okauru; the Otaru of Igarra, His Royal Highness, Oba Adeche Emmanuel Saiki and eldest son of the deceased, Dr. Sota Omoigui, at the thanksgiving service held for their father, the First Surveyor General of the Federation, Daniel Aiyanya at the Saint Paul Church in Benin City ... yesterday

Obi Replies Tinubu, Says No One Has Ever Accused Him of Corruption Vows to tackle graft, dialogue with Boko Haram, IPOB, others Baba-Ahmed blames president over contract inflation, poor procurement process

Emameh Gabriel, Oghenevwede Ohwovoriole and Juliet Akoje in Abuja The presidential candidate of the Labour Party (LP), Mr. Peter Obi, yesterday replied the recent comments by his opponent in the All Progressives Congress (APC), Mr. Bola Tinubu that mocked him as ‘Mr Stingy,’ Tinubu had during a campaign at the weekend, alleged that the former Anambra governor watched his people suffer and saved the state’s funds rather than save the people.

But Obi, who alongside his running mate, Yusuf Datti BabaAhmed appeared yesterday, on the Channels TV Presidential Town Hall Meeting, stressed that no one could fault him for refusing to steal public funds.

Obi who was asked to react to a statement made by Tinubu

about his attitude of saving and starving the people, challenged the former Lagos State governor that it would be better if the conversation was centred around corruption and accountability.

He said: “It’s good when my opponents talk. Let us talk about corruption. One of the things killing this country today is Corruption Perception Index, which is measured by how you manage public assets, nepotism, how you share the land, how you manage your money, and everything.

“I’ve challenged everyone to go and see whether there is anywhere a kobo of Anambra State money is missing.’ Saving has now become an issue. When people have stolen all the money and impoverished the country and you are now questioning a man who left the money without anybody telling me to leave it and go.”

Obi also vowed to dismantle what he described as "confusion" at the Nigeria Port Authority through genuine partnership with the private sector.

He also spoke about how he intends to end militancy, banditry and agitation by different groups in the country, reiterating that if elected, his government would not hesitate to bring all aggrieved groups, including Boko Haram and IPOB to the table for talks.

On his part, Obi's running mate, has blamed the presidency for lack of transparency in procurements, contracts, especially in the supply of military equipment.

Obi who spoke mainly on areas of the economy, education, power and especially security, promised to open all the ports across the country to generate revenue for the economy as well as to dismantle the cabals

frustrating efforts to make other viable ports in the country functional.

He said: "It a confusion they created that I will dismantle.

People have to do the right thing. Port is not difficult.

Nigeria is lucky that we have ports all over the place. What's happening to the Ibom? Look at the Port Harcourt Ocean terminal started by Shagari?

Look at Warri. Everywhere in Nigeria has port and you can just open it up.

"But people deliberately don't want it opened because if it opens up, they won't have the confusion. That's what is happening everywhere in Nigeria; they don't want to open up the economy to let people's talents and hard work match up the opportunities because they will not have anything to steal.”

Asked what he would do

Ortom: Benue Residents Will Not Vote for Those That Caused Displacement of Communities into IDP Camps George Okoh in Makurdi Governor Samuel Ortom of Benue State has stressed that Benue people would not vote for those who would continue to make the people live as Internally Displaced Persons (IDPs) in their own land.

This was just as he directed the State Universal Basic Education Board (SUBEB) to reconstruct a primary school at Tse-Tseen, Saghev burnt down during herdsmen attacks on the community.

Ortom said this yesterday, in his remarks at the Thanksgiving Mass in honour of 'Onov Mba Zenke Geraza' led by Tor Lobi, the HRH, Moses Anageende, held

at St. Theresa Catholic Church, Tse-Tseen, Saghev in Guma Local Government Area.

He said Benue people cannot continue to vote for those who would to make them suffer and make them refugees in their own state, adding that such people should not be voted into power again.

Several primary schools have either been burnt down or abandoned following herders’ attacks on villages and communities in various parts of the State.

The governor mandated the Executive Secretary of SUBEB, Joseph Utse to work out modalities for the reconstruction of all blocks that were burnt down.

He lamented that the school which was constructed and fully equipped by his administration was razed down by Fulani terrorists, a development which has rendered the children of the community without access to education.

The primary school board was also directed to construct an additional block of classrooms in the school to serve the community.

Ortom also reiterated his call on people of the state to always be vigilant and promptly respond to invaders whose sole agenda he said was not to graze, but take over their ancestral land.

He called on those who registered with the Independent National Electoral Commission

(INEC), to ensure they collect their Permanent Voter’s Cards (PVCs), to enable them vote in the forthcoming elections.

The governor further commended the security agencies for their "hard work, dedication, resilience, and patriotism" to guarantee security of lives and property.

To further strengthen the security of the state, the Governor announced that his administration would embark on the third training of additional 1,000 personnel of the Community Volunteer Guards this month, to boost their operations.

He emphasised that the state Continued on page 42

different to change the state of the economy, he said: "Very easy, I will bring in private sector, build ports and manage it. That's how it works everywhere.”

On insecurity, Obi said there must be deliberate efforts to bring all agitators and secessionists to the table for talks to hear if they have genuine grievances.

He explained that in a

democracy, people have the right to protest against injustice, adding that the onus was in the hands of the government to look into what must have led into doing that.

Obi said: "When you look at what is causing agitations today, it is the issue of injustice, the issues that has to do with Continued on page 42

Avoid Beating Drums of War, Abiodun Urges Nigerians James Sowole in Abeokuta Ogun State Governor, Mr. Dapo Abiodun has called on Nigerians to avoid actions capable of provoking one another and leading the country to another national conflict, saying "Stop beating drums of war' Abiodun made the call during a special Church Service to mark the 2023 Armed Forces Remembrance Day Celebration, held at the Cathedral Church of St. Peter, Ake, Abeokuta.

The governor specifically urged Nigerians fond of making inciting statements, to desist from such as the general elections draw closer.

He said, "Let me call on all of us, we must do everything to ensure that we avoid actions that are capable of provoking one another, actions that are capable of leading us to war or any other national conflict.

"For people constantly beating the drum of war, let us ensure that particularly, as we prepare for the 2023 general elections, we do not do anything to overheat the polity."

Abiodun, while noting that his administration in the last three and half years has lowered the political temperature in state and allowed every political party in the state to go about marketing their franchise, appealed to all Nigerians

to participate in the forthcoming general elections.

The governor who also called on youths in the country to shun all acts of violence and thuggery, urged parents and guardians to ensure that their children and wards are not used as thugs during the election.

"We must ensure that we participate in this electoral process, we've been advised that the Independent National Electoral Commission has now made the Permanent Voter's Card available at different wards, we enjoin you to please go and collect your PVCs, because, without your PVCs, you will not be able to exercise your franchise.

"We want to enjoin you that as responsible citizens, they say that a people deserve the leaders that they choose, you will not be able to choose your future leaders if you do not collect your PVCs, you will not be able to be part of the Renewed Hope for Nigeria if you do not collect your cards.

"I want to appeal to the youths who are also today's future, please, shun all acts of violence, thuggery, cultism and drug abuse and our parents, do not allow your children to be used as thugs in the cause of this 2023 general elections," he added.

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NEWS

A SOUVENIR FOR THE GOVENOR...

Imo State Governor, Sen Hope Uzodimma (right) receives a plaque from the Catholic Archbishop of Owerri, Most Rev Lucius Ugorji on behalf of the Catholic Bishop of Morogoro District in Tanzania, Most Rev. Lazarus Mosquie, for a Church the Governor built for Morogoro District in Tanzania, at the Government House Chapel, Owerri... Sunday

Kogi Queries 94-Year-Old Ohinoyi of Ebiraland Over Absence During Buhari’s Visit to State Ibrahim Oyewale, Lokoja Kogi State government has given a 48-hour ultimatum to the 94-year-old Ohimoyi of Ebiraland, His Royal Majesty, Dr. Ado Ibrahim to explain why he was absent during the visit of President Muhammadu Buhari to Kogi State last week .

The query was contained in a letter addressed to the traditional ruler dated 5th January, 2023, with reference no MLG A/CHt /39/ VI/XX, obtained at the weekend.

The letter signed by a Director in the Ministry of Local Government and Chieftaincy Affairs, Mr. Enimola Eniola, has since gone viral on social media.

Part of the letter read: "It has been observed with serious concern that you have exhibited deliberate attitude and actions capable of bringing Kogi State and Eblra land In particular to grave disrepute. These actions are quite unbecoming of a revered Royal Father of your status "Specifically, you were aware through many fora of the glorious visit of Mr. President and Commander-In-Chief of Nigerian

Armed Forces, His Excellency, Presldent Muhammadu Buhari GCFR to Okene on 29'” December, 2022 to commission land mark projects executed by our dear Governor, His Excellency, Alh. Yahaya Bello.

“In a flagrant disregard to the persons and high offices of the president and the Governor, you bluntly refused to come out and receive the president at the designated venue rightly approved by the Executive Governor of the State.”

The letter read further: “It might interest you to note that official courtesy demands that when a personality of a president occupying the highest office in the land is visiting or even passing through the state, the governor and top public officers, including topmost traditional rulers are expected to receive him as a mark of respect for him and the office he occupies.

“It is on record that in time past, topmost traditional rulers including the President, Kogi State Council of Chiefs do receive the Governor of the State on his return from critical missions

ORTOM: BENUE RESIDENTS WILL NOT VOTE FOR THOSE THAT CAUSED DISPLACEMENT OF COMMUNITIES INTO IDP CAMPS security outfit whose role was to complement the conventional security agencies, requested traditional rulers to liaise with Local Government Chairmen in their respective areas to nominate young men with proven integrity who would be trained in the next batch of volunteer Guards.

While congratulating the Tor Lobi on the occasion, Ortom noted how Saghev community has produced great people who have added value to the development of the state and expressed delight that socio-economic life was gradually picking up in the community after the dastardly attacks by herdsmen.

In his remarks, Tor Lobi, HRH, Chief Anagende, said the thanksgiving mass was to appreciate God for his many blessings and raise funds for the construction of a befitting Catholic Church in the community where

he began his faith.

He lauded the governor's tireless efforts for development of the state, particularly his security interventions for peace to prevail.

The Parish Priest of St. Gabriel's Parish Tsavnum-Saghev, Nongov, Rev. Fr Richard Iyaghigba, in his homily, challenged Christians to manifest faith in good deeds in the society so that the world will see and embrace God's ways.

According to the cleric, as Jesus Christ was made manifest and his light illuminated the universe, Christians must uphold truth and shun deceit, emphasising that the light of God has shone and the faithful must avoid darkness and pursue righteousness.

The governor later inspected the school and visited the Army unit stationed in the community and commended them for their sacrifices to the people of the area.

undertaken on behalf of the state.

“But, you have chosen to disdain the office of the Executive Governor, and this time, you did it with effrontery before the number one citizen of Nigeria.

"This action of yours is an act of insubordination and disloyalty to the President and Commander-in-Chief of Nigerian Armed Forces, the Executive

Governor of Kogi State and the entire Ebira nation as a whole.

It portends grave danger to the security of the state and laying bad precedence for traditional institution of the state.

"In view of the above, I have been directed to request you to forward a written explanation within 48 hours why disciplinary action should not be taken

against you for these acts of insubordination and disloyalty.

Oral explanations may be required from you when a panel is set up to study your case.

"It is expected that you will accord priority to the content of this letter.”

The monarch was noticeably absent during Buhari’s visit to inaugurate projects in the state

on December 29th, 2022.

The governor while reading his welcome address to the president had said the traditional ruler was indisposed and ably represented by the Ohi of Okengwe, Alhaji Tijani Mohammed Anage.

Also there was a terrible bomb explosion behind the Ohinoyi Place before the arrival of Buhari last Thursday.

PDP Urges Osun Residents, Supporters to Shun Violence Yinka Kolawole in Osogbo.

The Osun chapter of the Peoples Democratic Party (PDP) has commended the state governor, Senator Ademola Adeleke for taking a firm stance against violence in the build up to the general election, saying the governor's timely intervention saved the state and the people of the alleged evil plot of former governor, Gboyega Oyetola, and his party, the All Progressives Congress (APC).

The PDP in a statement by its Caretaker Chairman, Dr. Akindele Adekunle, yesterday, dismissed as empty and lacking any basis the unsuccessful attempt by the APC to blame it for the rise in violence in the state, saying the people of the state were well aware of the violence inclination

of Oyetola and his party.

Akindele said Osun state was peaceful until recently when the return of Oyetola give rise to occurrence of violence in the state, noting that it was also aware of the plot by the APC to unsettle the administration of Adeleke.

"Under Oyetola, violence was the order of the day as violent actors like Asiri Eniba and Rashidi Oko Ilu under the direct command of the former governor and his party unleashed terror on the people of Osun State.

“In a viral video that could still be obtained on the internet, Rashidi Oko Ilu boasted of killing people without consequence because Oyetola has his back," the statement alleged.

"That should tell you how bad things were under Oyetola in

terms of violence. Upon his exit from office following the rejection by the people, the state returned to the path of peace, but that is now being threatened with Oyetola's return to the state, which we have come to find out was deliberate."

The PDP however warned that the people of Osun state would not tolerate Oyetola’s desperation to throw the state into chaos, declaring full support for Adeleke to keep Osun state peaceful and safe.

"Let Oyetola and his gang know that Osun people spoke loudly on July 16 2022, by overwhelmingly electing Senator Ademola Adeleke as their Governor," he noted.

"We are well aware that the reckless comments by Oyetola and certain leaders in his party, especially in speculating about

the petition before the judiciary, was part of a calculated attempt to spur our people to respond and create crisis in the state.

"Notwithstanding our call of restraint to the people over the provocative utterances of Oyetola and his sponsors, we will however want to stress for their understanding that any plot to steal the mandate of the people freely given to Governor Ademola Adeleke is a declaration of war on Osun people and no political party or power has ever waged a war against the people and won.

This won't be an exception."

Osun PDP called on the people to heed the call of Adeleke and stay away from violence, vowing to stand with the governor in resisting every attempt by Oyetola and his party to disrupt the peace and stability of the state.

OBI REPLIES TINUBU, SAYS NO ONE HAS EVER ACCUSED HIM OF CORRUPTION unfairness, unemployment, poverty. When you start addressing these issues and you engage them in a discussion, bringing them to the table.

“We have agitations globally with convincing argument that things are not the way they should be. We have agitators all around us. My children, everyone agitates.

"When we sit them down and discuss with them, when they see reasons with us, they will agree.

To say that you can continue with this injustice, continue with this unfairness, continue with this level of poverty, unemployment and young people not knowing where the next meal will come from, you till always have a crisis

in your hands.

"I will discuss with everybody even if you are prisoner. Even if you have been jailed, I will bring you out so we can discuss. We must exhaust reasoning before we apply the stick. It's important. This is a democratic dispensation. You don’t just get up and give orders.

I won't do that. I will govern by rule of law. I will govern by sitting down and discussing with everybody.”

Asked if that includes Boko Haram and IPOB, he said, "I have to find out who they are.

Once you can identify who you are, I will discuss with you no matter what you are doing, no matter the kind of guns you are carrying, I will discuss with you.”

For the power sector, Obi said he would declare a state of emergency in the sector, promising to generate no less than 20,000 mw in his first four years in office.

He also said he would not revisit the power sector privatisation, saying that instead he would support players in the sector to improve on the existing power infrastructure.

Baba-Ahmed also said it was better to have brain drain than to have, “brain in a drain,” adding that Nigeria cannot afford to have educated and trained medical professionals and others, see them go to waste because the system was not working.

The vice presidential candidate noted that, "there is going to be a

positive revolution in Nigeria, it has started, you can see evidently from the OBIdient Movement, there is going to be a revolution in governance itself when we come into power than is going to have an announcement effect as a tsunami."

He further assured Nigerians that "security will be fixed, the government will be just and serving justice, investment will be overflowing and then Nigeria’s position in the world will not only be population, we will again begin to reflect it population and productivity at the same time.

These are the Movements that we are merging in the next four to eight years," if the Labour Party wins the election.

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SOKOTO PDP CAMPAIGN RALLY...

L-R: Sokoto State PDP Governorship Candidate, Mallam Saidu Umar; Governor Aminu Waziri Tambuwal of Sokoto State, and Speaker, Sokoto State House of Assembly, Hon. Aminu Manual Achida, during the PDP gubernatorial campaign rally at Wurno Local Government area of Sokoto state... yesterday

State Assets: Rivers Govt Files Fresh Suit Against Amaechi, Cole Blessing Ibunge in Port Harcourt The Rivers State government has filed a fresh suit against a former governor of the state, Chibuike Rotimi Amaechi and the governorship candidate of the All Progressives Congress (APC) in the state, Tonye Cole, over alleged sale of state assets.

A similar suit filed against Amaechi and Cole by Governor Nyesom Wike was struck out by Justice Okogbule Gbasam of the state High Court in Port Harcourt, in October 2022, after the State Attorney-General withdraw the alleged criminal charges.

However, a chieftain of the APC in Rivers, Eze Chukwuemeka, yesterday, called on the judiciary to disassociate self from alleged partisan politics in the state.

In a statement in Port Harcourt, Eze said, "Plot by the Governor Wikeled state government to frame-up fresh criminal charges against former governor Chibuike Amaechi and the governorship candidate of the APC in Rivers State, Pastor Tonye Cole, has been uncovered."

Eze disclosed that the charges had been filed at the state high court, alleging that, the "Governor has

directed the Chief Justice of the state to ensure that the matter is assigned to a Judge that will ensure a speedy trial and find the duo guilty in a bid to disgrace Amaechi and scuttle the chances of the APC at the polls."

The APC chieftain further stated that the tip-off available to him, "indicates that Governor Wike is hellbent on ensuring that the APC is frustrating from featuring on the ballot in the forthcoming elections and that the judicial arm has given him an ironclad assurance to do his bidding as he considers the criminal charge as his last option opened to him to frustrate the APC at the polls."

He also revealed that, "There was a mild confusion yesterday (Friday) after the bailiff failed to deliver the hearing notice on Amaechi and Cole as every process from the trial to sentencing has been programmed".

He added: "Wike had boasted before some allies that the AG has got enough evidence to prosecute Amaechi and Cole including copies of the receipt evidencing the alleged transaction and sale of the assets."

While assuring the people that Amaechi and Cole would be

vindicated, Eze called on officials of the state judiciary to be custodians of justice and always be wary of being inveigled into a situation in which they find themselves as partisan agents in the pursuit of a

selfish private vendetta.

He assured them further that, "The ploy will hit the brick" and called on the Rivers APC to remain steadfast in the pursuit of a better life for all through a responsible government

Harry said he had faced "many, many years of lies being told about me and my family".

Addressing the, "relationship between certain members of the family and the tabloid press", Harry added: "Those certain members have decided to get in the bed with the devil, right? - to rehabilitate their image.

"If you need to do that, or you want to do that, you choose to do that - well, that is a choice. That's up to you.

"But the moment that that rehabilitation comes at the detriment of others - me, other members of my family - then that's where I draw the line."

Asked how he could justify the level of disclosure in his book, Harry said there was a family motto of "never complain, never explain."

Confirming the suit to THISDAY, yesterday, in a telephone conversation, the Senior Advocate of Nigeria said, "Yes information has already been filed against them (Amaechi and Cole)."

Tinubu: I'll Honour All My Campaign Promises Lagos Arewa community endorses APC candidate Segun James Presidential Candidate of the All Progressives Congress (APC), Bola Tinubu, yesterday, at a rally organised by the Arewa Community at the Mobolaji Johnson Stadium, Onikan, Lagos, ahead of next month’s presidential election, pledged to honour all his promises, adding that under his leadership, Nigerians would live in peace regardless of ethnicity and religious differences.

This is as the Arewa Community in Lagos, have also declared support for the APC candidate in recognition of his leadership record in the state.

The former Lagos State governor, who also assured the people that

his government would be for all Nigerians, and not favouring any religion or tribe, said, "My respect for this country will continue to increase, and I will honour all my pledges that we all will live in harmony. We belong in each other's hearts," he noted He said a testament to this was when, as Lagos State governor, he appointed people into the state cabinet from other regions of the country.

According to him, “From the moment I enlisted in politics, I have always been nationalistic and detribalised in my approach.

I do not operate on the basis of ethnicity, region or religion. I have friends and associates in all corners

Prince Harry Accuses Royal Family Members of 'Getting in Bed with the Devil' Prince Harry has accused the Royal Family members of getting in "bed with the devil" over their links with the tabloid press as his ITV interview aired.

The Duke of Sussex told presenter Tom Bradby that he did not have "any intention to harm" or "hurt" his father Charles and brother William with his memoir Spare, which includes a series of explosive allegations about the royals.

According to Sky News, Harry also said it was, "important to acknowledge," his past drug use after he admitted in his book taking cocaine, cannabis and magic mushrooms.

"I love my father. I love my brother.

I love my family," Harry said.

"Nothing of what I've done in this book or otherwise has ever been (with) any intention to harm them or hurt them."

under Cole and the party.

Nevertheless, the Rivers State Attorney General and Commissioner for Justice, Prof Zacchaeus Adangor (SAN), has confirmed the fresh suit against the duo.

"What people have realised now, through the Netflix documentary and numerous stories coming out over the years, is that, that was just a motto," he added.

"There was a lot of complaining and there was a lot of explaining and it continues now.

"The thing that is the saddest about this... is it never needed to be this way.

"It never needed to get to this point.

"I've had conversations, I've written letters, I've written emails, and everything is just: 'No, this is not what's happening... you are imagining it.

"And that's really, that's really hard to take.

"If it had stopped, by the point that I fled my home country with my wife and my son fearing for our lives, then maybe this would've turned

out differently. It's hard."

Bradby suggested to Harry that he was, "pretty consistently scathing" in his memoir about his "stepmother and the press."

An excerpt read by Harry from his book said he and his brother William "endorse Camilla" but they asked his father Charles not to marry her.

"Shortly after our private summits with her, she began to play the long game," Harry said.

"A campaign aimed at marriage, and eventually the Crown, with Pa's blessing we presumed.

"Stories began to appear everywhere in all the papers about her private conversation with Willie, stories that contained pinpoint accurate details, none of which had come from Willie, of course. They could only have been leaked by the other one other person present."

of this country.

“As governor of Lagos State, I constituted a cabinet, comprising competent people from all parts of Nigeria. We had the Yoruba, as we had the Igbo and Arewa.

What was important to me was not your ethnicity or creed; it was your competence and the value you would bring to governance and people. To replicate this feat for the country is why I have offered myself for the presidency.”

On his plans for the country, especially for the north, Tinubu promised to tackle the security being experienced across the country, stating that the economy could not thrive in an insecure environment.

He added, “If elected president, my highest priorities shall be the protection of our land and prosperity of its people. I shall tackle this nation’s problems with a commitment to solving them.

“I will give priority to confronting security, making the economy one of widely shared prosperity and paying special attention to agriculture like the present government of President Muhammadu Buhari.

“On security, my policy is not artificial created to sound good for this campaign. Our security policy is based on dedicated study and long conversations with experts in this field.

“I used the same approach to tackle the bad security situation that faced me when I became governor of Lagos. I created programmes and institutions to solve the real and dangerous challenges Lagos faced.

I shall increase security personnel and better equip them. Advanced air and ground surveillance technology will identify, track and attack the criminals until they are utterly defeated.”

He also promised to provide jobs for the nation’s youths, while also

ensuring that electricity generation was improved to allow more people to start up small businesses to feed their families.

He added that great attention would be given to agriculture, to ensure that there was increased food security through enhanced productivity and improved farm incomes, thus returning farming to its prominent position.

He said massive investments would be made in road and rail infrastructure to ensure easy movement of goods and products while also strengthening the education sector to guarantee the future and guide the youth toward better lives.

“We will invest in the Kolmani Oil Wells Project inaugurated by President Buhari and indeed in all vital infrastructural projects such as the Mambilla Power Project, the AKK gas pipeline projects.

“We shall revive our inland waterways through the dredging of the River Niger and make sure we cut down on our steel import bill by making the Ajaokuta Steel Company work,” he added.

However, the Kano State Governor, Abdullahi Ganduje, said Nigeria was a country of diversity and noted that Tinubu had demonstrated that he could utilise the country's diversity for development and prosperity.

"He is a symbol of unity, a product of unity in diversity. He is the right person to be endorsed by Arewa and the best for the presidency," he said.

Chairman of the Arewa Community in APC, Alhaji Saadu Yusuf Gulma Dandare, also said Tinubu had done a lot for Lagos and Nigeria, and that if the country has more of him in each geopolitical zones, it would be a better place and the people would not be flocking to Lagos.

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NEWS

LABOUR PARTY LAUNCHES TOWNHALL APP…

L-R: Chairman, Labour Party Presidential Campaign Council (PCC), Imo State Chapter, Martin Agbaso; Chairman, Labour Director General, Big Tent Nigeria, Ibrahim Abdul-Karim; Director General, Labour Party PCC, Akin Osuntokun, Co-Convener, Value Driven Leadership, Nwamaka Okoye; and Special Adviser to Peter Obi on Technology Strategic Alliances, Valentine Ozigbo, at the launch of ‘Obidient’ Town Hall App in Lagos.. yesterday

Police Kill Two Gun Runners in Zamfara

Onuminya Innocent

Operatives of the Nigerian police Zamfara State Command said they have killed two gun runners along Gummi - Anka road.

In statement by the force public relations officer Superintendent of police (SP) Mohammed Shehu, the police said Tactical Operatives of the command in an extensive gun duel which lasted for some hours with the gun runners while

conveying sophisticated arms and ammunition to terrorists camp in Zamfara all the way from Taraba state resulted to the death of the two of the gun runners.

He noted that the feat was recorded following an intelligence information received about the movement of the suspects inside a Toyota Corolla vehicle containing the exhibits from Taraba State en- route terrorists camp in Zamfara State.

Two of the suspects were fatally

Ohakim Charges Security to Unravel Attackers AmbyUnezeinOwerri

Former Governor of Imo State, Mr. Ikedi Ohakim, has charged the security agencies to unravel the mystery behind his ordeal last week where four of his security personnel were gunned down.

Ohakim, who alongside his two children were attacked by gunmen leaving four of his security dead, has expressed profound appreciation to Nigerians who empathised with his family.

Ohakim, in his thank you message to Nigerians that was dated January 7, 2023, acknowledged the outpouring of love from several Nigerians over the unfortunate incident, said that “the important thing is that I survived what was a clear attempt to assassinate me.”

He said: “While we cannot thank God enough for this miracle, I must confess that we are yet to come to terms with the death of the four

gallant security officers who lost their lives while trying to save mine.

“As I write this message, my heart bleeds but, of course, no length or volume of literature can sufficiently express the pain and hurt that in going right deep inside me.

“These were young men at the prime of their youth and career and for whom the future held quite a lot.

The circumstance of their death is yet another very sad commentary on our collective existence as a people.

It is a personal loss.

“While condemning the incident, Nigerians, quite expectedly, have once again expressed their angst over the scourge of insecurity in our clime and I lend my voice in calling on the security agencies to leave no stone unturned not only in unraveling the mystery behind this particular incident, but to ultimately find a lasting solution to what now seems like an intractable national problem.”

United Capital Launches Global Fixed Income Fund Foremost investment bank and financial services group, United Capital Plc is starting 2023 with the launch of its new mutual fund, the United Capital Global Fixed Income Fund.

It is a specialised open-ended dollar-denominated fund that invests in securities and Eurobonds, floated by the federal government of Nigeria and other sovereigns, as well as top-tier corporates, money market instruments and alternative investment assets.

Commenting, Managing Director/CEO of United Capital Asset Management Limited, Odiri Oginni, said: “The current macroeconomic clime in Nigeria has prompted a rise in demand among investors for high-yielding investment options in foreign assets. At United Capital Asset Management, we are constantly

exploring new ways to meet the ever-changing demands of our clients, which led to the creation of this fund. The United Capital Global Fixed Income Fund is an avenue for investors to diversify their portfolios and income streams while providing long-term capital preservation and appreciation, through investment in a selected portfolio of global fixed income assets. Our existing mutual funds, have continuously provided attractive returns for investors, and we are certain that this new fund will do the same.”

According to the company, the United Capital Global Fixed Income Fund is the eighth mutual fund managed by United Capital Asset Management Limited, a subsidiary business of the group, and one of Nigeria’s leading fund managers.

injured while others escaped to the bush with possible gunshot wounds.

He stated that the injured suspects were taken to Yariman Bakura Specialist Hospital Gusau, and later confirmed

dead by the doctor while on admission.

He further added that spot search by the operatives led to the recovery of some exhibits such Ak-47 riffles, ammunition, Toyota Corolla vehicle, and other

dangerous weapons.

Shehu disclosed that additional joint/vigilance operatives were deployed to the location for rigorous confidence building patrol aimed at apprehending the fleeing suspects

He said the Commissioner of Police CP Kolo Yusuf assured the people of Police continuous commitment to rid the state of terrorist and other criminal activities for safety, security and peace.

NDLEA Uncovers Drug Consignments in Wooden Statue, Imported Vehicle Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA) have intercepted over 37.5 kilogrammes of illicit substances at airport and seaport in Lagos in the last one week.

The anti-narcotics agency also arrested 11 suspects in interdiction operations across the country during which seizures of almost four tonnes of skunk were recorded in the same period.

A statement yesterday by the spokesman of NDLEA, Femi Babafemi, said attempts by elements of organised criminal groups to use various disingenuous modes of concealment to import consignments of illicit substances into Nigeria and export same to the United Kingdom, and United Arab Emirate through the Murtala Muhammed International Airport, Lagos and Tincan seaport, Lagos were

thwarted.

He said: “No less than 37.5 kilogrammes of such illicit consignments were intercepted in the past week, with the arrest of 11 suspects in interdiction operations that led to the seizure of almost four tons of skunk in Kaduna, Kano and Lagos state.”

Babafemi disclosed that at the Lagos airport, a freight agent Ogunsina Damilare was arrested last Friday following a bid to export 1.5 kilogrammes

of skunk hidden in foodstuffs to Dubai, UAE through the SAHCO export shed of the MMIA, while a similar attempt to ship 11.5 kilogrammes of the same substance to the United Kingdom was frustrated when the consignment concealed in a giant wooden sculpture was intercepted by NDLEA operatives of the Directorate of Operations and General Investigations (DOGI) at a courier company in Lagos.

Navy Rating Arrested for Death of 16-year-old Girl in Bayelsa Olusegun SamuelinYenagoa A Naval rating has been arrested for his alleged complicity in the death of a 16-year-old girl, Miss Nengi Enenimiete, whose corpse was found in November 2022 in the wardrobe of an hotel located in Brass Local Government Area of Bayelsa State.

It was gathered that the Naval Police in conjunction with the

operatives of the Nigerian Police and the community youths leadership were able to identify and arrest the Naval rating involved in the dastardly act.

A source told newsmen that the arrested Naval rating is in the custody of the Nigerian Navy and will likely be handed over to the Nigeria Police for prosecution after the internal naval trials.

The corpse of Enenimiete was

discovered at the Blevera Hotel in Brass in November by the manager. The corpse, however, showed no signs of physical injuries, mutilation or strangulation.

Indigenes of the Twon Brass community are, however, demanded an autopsy and arrest of the mystery male guest with the deceased, who eventually turned out to the Naval rating..

Confirming the incident to

newsmen, the spokesman of the Bayelsa Police Command, Asinim Butswat, had stated that “On 21st November 2022 the manager of a Hotel in Twon Brass, reported at the Divisional Police Headquarters, Brass, that he perceived an offensive odour from one of the rooms in the hotel, upon a search he discovered a lifeless female corpse hidden inside a wardrobe.”

Elections: Akeredolu Wants Prayers for Peace, Security Fidelis David in Akure Ondo State Governor, Oluwarotimi Akeredolu (SAN) yesterday solicited ceaseless prayers for the peace and security of the country and Ondo State in particular, as the forthcoming general elections draw nearer.

Governor Akeredolu, who vowed to continue to fight and give everything for the survival of the country insisted

that Nigeria must survive and harped on need to rotate the presidency for equality and fairness.

Akeredolu spoke at the Holy Service commemorating the 2023 Armed Forces Remembrance Day Celebration held at the Redeemed Christian Church of God, Jesus House Cathedral, Region 22 Headquarters, OkeIjebu, Akure, the state capital.

The governor, while appreciating all the security

agencies in the state including the Military, Police, Department of Security Service (DSS), Nigeria Security and Civil Defence Corps (NSCDC), Amotekun Corps, and the Nigerian Legion for their commitment and resilience in protecting Ondo State and serving the nation, charged Nigerians to conduct themselves in a peaceful and patriotic manner during the electioneering and on the election day.

The governor, who took the

first Lesson from the Book of 2 Samuel 1:17-27, disclosed that the celebration is held annually to rekindle interest in the affairs of the families, dependants and relations of Nigerians who lost their lives in wars and peacekeeping operations across the globe.

His words: “I am equally mindful of the fact that several security challenges have claimed lives of many of our great officers and soldiers.”

Ekiti Military Veterans Cry to Buhari, Say they are Dying of Hunger Gbenga Sodeinde in Ado Ekiti Veteran military men in Ekiti State have appealed to President Muhammed Buhari to save them from dying of hunger and poverty.

The veterants also called for the intervention of the Nigerian lawmakers and state governors to ensure that their salary arrears would get to them.

The veterans disclosed that

“some of our military veterans who fought gallantly in the Nigeria Civil War between 1967 to 1970 and won, served for about 10 years and above, are still unpaid.”

A statement that was signed by their Ekiti State Secretary, Mr. Bello Oseni, tagged: ‘SOS’ and made available to newsmen in Ado Ekiti yesterday, said that they had been living in very pathetic and terrible situations

as a result of their unpaid salaries and arrears.

They lamented that many of them are currently sick and cannot afford medication, adding that they could not afford to feed themselves.

“Some cannot afford a meal per day, some with health challenges doesn’t have money to maintain their health challenges such as blindness and stroke while others are homeless.”

Oseni disclosed further that “on November 17, 2022, a sum of N134.7 billion was approved by President Buhari’s administration to pay the pensions of military veterans who fought in the Nigeria Civil War and won in order to take care of themselves and families.

“However, the money is yet to be paid to us since it was approved by President Buhari.

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Osimhen Scores as Napoli Win at Sampdoria to Go Seven Points Clear

Femi Solaja with agency report Super Eagles forward, Victor Osimhen, was the hero of the night as Napoli bounced back from defeat at Inter Milan last week to defeat Sampdoria 2-0 away to consolidate at the top of Italian Serie A. Osimhen fired the opener in the 19th minute after Matteo Politano had blown a spot kick in the 6th minute. A late Eljif Elmas penalty eventually broke Sampdoria, who had Tomas Rincon sent off.

There were emotional scenes before kick-off, as the gates of Marassi had already become a makeshift shrine to Gianluca Vialli.

During the minute’s silence, Dejan Stankovic stood holding Sinisa Mihajlovic’s shirt between the ex-Bologna coach’s three sons, while President Marco Lanna held up Vialli’s jersey.

The pressure was on the Partenopei after their first Serie A defeat of the season and Luciano Spalletti made several changes in defence and midfield, while Sampdoria were fresh from a surprise win away to Sassuolo.

Fabio Quagliarella, Omar Colley, Andrea Conti, Abdelhamid Sabiri, Ignacio Pussetto and Manuel De Luca missed out along with suspended Bruno Amione, but

I TA L I A N S E R I E A Filip Djuricic returned from his ban. Bartosz Bereszynski was on the Napoli bench just hours after completing his transfer from the Blucerchiati.

There was huge controversy in the opening minutes, because Andre-Frank Zambo Anguissa slipped in the box and Nicola Murru accidentally trod on his ankle after the fall.

However, VAR only showed the referee the final footage of the stamp and he opted for an extraordinarily harsh penalty.

Emil Audero came to the rescue, fingertipping Matteo Politano’s spot-kick onto the upright.

Alex Meret was also called into action with an acrobatic save on Valerio Verre’s ground to air missile, then on the resulting corner Bram Nuytinck’s header glanced just wide.

Audero did the same on a looping Osimhen header, but was eventually beaten when the Nigerian stuck out a leg to prod in Mario Rui’s low cross from the left.

Kvicha Kvaratskhelia hesitated when clear on goal to be denied

by Audero, then Anguissa’s chest and half-volley flashed inches wide.

The game turned when Osimhen

shrugged off Bram Nuytinck and was hacked down by Tomas Rincon, the referee opting for a straight red card. It wasn’t entirely sure if the red was for stopping a clear scoring opportunity – as he was wide and running towards goal – or for it being incredibly cynical with no attempt to get the ball, but probably a combination of the two.

Kvaratskhelia flashed an angled drive across the face of goal after Politano’s counter-attack.

Sampdoria moved to a 4-4-1 formation for the second half, while Kim Min-jae went off as a precaution with a knock.

Audero fumbled a Politano cross-shot, but managed to get it under control before Osimhen could pounce, while Stanislav Lobotka drilled just wide from distance.

Tanguy Ndombele and Piotr Zielinski fired over, but Napoli received another penalty when Eljif Elmas prodded a loose ball onto Ronaldo Vieira’s trailing arm and VAR sent the referee to the monitor. This time Elmas decided to take the spot-kick and blasted an unstoppable effort into the roof of the net for the second goal for Napoli.

Bendel Insurance Stun Akwa Utd to Announce Return to NPFL Bendel Insurance FC of Benin City made a bold statement in their first game since returning to the Nigerian Premier Football League (NPFL) with a 2-0 defeat of 2020/21 champions, Akwa

United in Uyo yesterday.

This opening game of the abridged new NPFL season at the Godswill Akpabio Stadium saw Imade Osarenkhoe scoring the first goal in the 40th minute.

Two Nigerians, Ango, Ikya Elected President, Member of FIA Ethics Committee Sunday Okobi

In a historic move for Nigeria and the global motorsport community, two Nigerians, Michael Ango and Denen Ikya, were recently elected as president and member respectively of the Ethics Committee of the Fédération Internationale de l’Automobile (FIA).

Their elections, according to a statement issued by FIA media representative in Nigeria and Head of Public Relations, ATCN Communication Manager, FIA Motorsports Games, Linda Dominguez, are in line with the vision of the FIA president to promote equality, diversity and inclusion within the Federation.

The elections of the two Nigerians was announced by the FIA President, Dr. Mohammed Ben Sulayem, at the recently concluded Annual General Assembly in Bologna, Italy.

“With these elections, Nigeria has made history as the first African country to get the presidency of the Ethics Committee of the FIA along with an additional membership seat,” the statement said.

Also, in a statement, Ango, a lawyer and Partner and Head of Tax Advisory and Regulatory Services at Andersen Nigeria, was announced as the new President of the FIA Ethics Committee for a four year tenue commencing January 1, 2023.

Additionally, Denen Ikya, an Abuja-based legal practitioner and Partner at Crest Hill Law Office,

Abuja, was elected as a member of the Committee alongside three other members from Brazil, the United States and Canada.

According to the statement, “With this election, Ango becomes the first African president of the Ethics Committee since its creation as an organ of the FIA. Mr. Ishaku Bamaiyi, the president of the Automobile and Touring Club of Nigeria (ATCN), the Nigerian affiliate of the FIA through which Ango and Ikya were nominated for the posts, stated that the election of the two Nigerians into what he referred to as an important standing Committee of the FIA, is a major milestone for the Club, Nigeria and Africa.”

He said this was a culmination of the efforts of the ATCN to put Nigeria on the global map of Automobile Mobility and Tourism, and World Motor Sport, noting that Ango and Ikya were elected on merit and in order to deepen the knowledge and resource base of the FIA, in line with the vision of the President of the FIA, Sulayem, to make FIA, a knowledge-led federation with world-class governance and which continues to empower clubs, members, and the World Councils.

Michael Ango and Denen Ikya, who are both legal practitioners and 2003 graduates of the Nigerian Law School, have resumed their positions with effect from January 1, 2023, and will superintend the functions of the Committee for the next four years.

Ismael Sarki doubled the lead four minutes later to give the visiting Insurance a 2-0 lead at half time.

The Promise Keepers came into the second half and show much improvement in their play but Bendel Insurance resisted all the attacks thrown at them as they secured a maximum point away from home.

All the remining Match Day-one would be played this weekend as the much awaited season goes full flight with abridged format owing to time factor in a bid to align with international calendar.

Victor Osimhen (in flight) scored in Napoli’s 2-0 defeat of Sampdoria to consolidate hold at the top of Italian Serie A...yesterday

Everton Confirm Iwobi’s Out of Action for Three Weeks Nigerian international, Alex Iwobi, has been confirmed to be out of action for just three weeks following the ankle injury he copped in Everton’s FA Cup Third Round loss to Manchester United on Friday.

Fears have been ripe that the Super Eagles midfielder may be out on the sideline for a longer period.

But yesterday, Everton announced on the club’s Twitter handle that Alex Iwobi’s Injury

was not as serious as anticipated. ”Alex Iwobi is expected to be out for around three weeks with the ankle ligament injury sustained against Manchester United on Friday,” said the club in the Twitter post.

Even Iwobi had on Saturday doused tension when posting on Twitter he would be back soon.

“Appreciate The Love, Back Soon,” the Nigerian midfielder wrote on his Twitter page on Saturday.

This development must have

come as good news to Super Eagles Portuguese Head Coach, Jose Peseiro who, perhaps, must have been worried over his prized midfielder.

Nigeria will resume hunt for Africa Cup of Nations (AFCON) qualification ticket with matches against Guinea Bissau home and away later in March.

The former Arsenal player was greatly missed last March as Nigeria failed to overcome Black Stars of Ghana in the final play-off to the last World Cup in Qatar. Iwobi could not feature in the two-legged clash with Ghana following the red card he got against Tunisia in

the AFCON 2021 in Cameroon.

Iwobi fell awkwardly after a challenge from defender Tyrell Malacia early in the second half of Everton’s 3-1 FA Cup third round loss to Manchester United last Friday.

He was unable to continue and had to be taken off on a stretcher in tears.

Everton Manager, Frank Lampard told Everton Tv after the game: “We hope it’s not too serious.

“It is an ankle ligament injury; we hope it’s a lesser one. He will have a scan tomorrow (Saturday) to confirm.”

Onuachu on Target as Genk Extend Lead

Alex Iwobi...our for three weeks with ankle injury

Paul Onuachu has continued his fine run in front of goal in 2023 when he netted his 14th goal of the season for table-topping Genk to beat champions Club Brugge 3-1 on Sunday afternoon.

Compatriot and new signing Yira Sor made his Genk debut in this game when he was introduced in the 87th minute.

The Belgium Jupiter League top

scorer fired his 14th goal in the 67th minute, when he outpaced his marker inside the box before he drove home.

He has now scored 15 goals in all competitions this season.

Genk now sit comfortably on top of the table with 49 points from 19 matches, 10 points clear of nearest rivals of Union St.Gilloise.

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MISSILE Onaiyekan to Politicians “With the current yearnings of the people for a better country, the election will no longer be business as usual. As regards to the results of the elections, politicians should desist from any form of manipulations to their favour if not voted for. All those who are planning to play games and scheme to rig…Even if no one asks questions, God will ask questions and He has His way of asking question” – Cardinal John Onaiyekan, cautioning politicians against any plan to rig the 2023 polls.

MAHMUDJEGA VIEW FROM THE GALLERY

Letter to Postmaster General

T

he Postmaster General of the Federation is busy sending letters to other people but no one is writing a letter to him. That is not fair. During our secondary school days, a student had no wish more exciting than receiving a letter. When the Mail Prefect brought mail from the Post Office every afternoon, every student waited with bated breath to hear if he received one. One day when we heard that a mail van had an accident, there was sadness all over the school and everyone said he was expecting a letter.

Last week, following his New Year message addressed to Nigerian youths, some young lads said on the social media that former president Olusegun Obasanjo is angling to become the Postmaster General of the Federation when Mr. Peter Obi wins the Presidency. According to those young lads, Chief Obasanjo was seen driving a red Golf car to the old Post Office in Owu. There he sealed his letter in an envelope, bought a stamp, affixed it on the top right hand corner and posted it. They said the Owu Post Office’s premises is dusty because few people go there these days to post letters.

Newspaper vendors, magazine and novels sellers no longer congregate there as they used to. The Post Office’s most reliable customer is Chief Obasanjo, who has been posting letters there since the 1940s.

Not for him SMS, email, WhatsApp, Facebook, Messenger, Instagram, Telegram, We Chat or any fancy messaging tools that kids use these days. According to one social media wag, when Chief Obasanjo was advised to use Telegram instead of posting a letter, he went straight to the postal clerk and asked him to count the number of words in his letter and to tell him how much it costs per word. The postal clerk was confused. Being a young man, he had no idea that Chief was talking about the old telegram of P&T that he used to send at the GPO [General Post Office], which was the fastest but also the most expensive means of communication in those days because you had to pay for each word.

Anyway, I am sure the Postmaster General will be happy to receive a letter of his own.

That is why I am writing this letter, in which I want to ask him a few questions. I will put this letter in the airmail envelop “Par Avion,” use my saliva to seal it, then affix a stamp and post it. I will not pay any stamp duty since there is still a contest between NIPOST and FIRS over who should collect it.

I must also wait until Hon. Gudaji Kazaure finishes his probe into embezzlement of stamp duty money.

There are some questions that I have been dying to ask Chief Obasanjo for many

Obasanjo

decades. Sir, in your New Year message, you quoted the Scripture as saying that if God would take account of all our wrongdoings, nobody would be able to stand before Him. Why then are you writing letters to all the persons who succeeded you in the Head of State/President’s office and taking account of their wrongdoings, against the teachings of Scripture? You wrote letters to General Ibrahim Babangida; you wrote to President Yar’adua; you wrote to President Jonathan and you are now writing to President Buhari, taking account of their wrong doings which even the Almighty said He won’t do. Are you mightier than the Almighty? With your diploma in Theology from the National Open University, why are you ignoring the teachings of Scripture for megalomaniacal reasons?

You are the only former Head of State who is writing letters; why?

Anyway sir, there is a question that I have been longing to ask you for nearly fifty years.

In your New Year letter you appealed to our youths “to turn the tide on its head and march forward chanting ‘Awa Lokan’ (our turn).”

You see, I am a Sokoto man. In 1977 when as military Head of State you visited Sokoto, you went to Federal Government College Sokoto, took a cane and whipped a student mercilessly. How can that boy now march forward saying Awa Lokan? Your reason for whipping the boy was because he left his shirt unbuttoned. Fourteen years later in 1991 when you were trying to become UN Secretary General, one writer said you were not fit for the post because diplomats are known for dressing immaculately but you wear your flowing agbada sartorially. You also said the student did not speak good English. That writer said unlike Boutros

Boutros-Ghali of Egypt who spoke Arabic, English, French and Spanish, you spoke only English and Yoruba.

Not only that boy. In 2001 or so when you paid a working visit to Kogi State, one National Civil Defence Corpsman was whipping people who were rowdy during a reception in your honour. You came down from the steps, took the cane from him and whipped him mercilessly. I even blamed NSCDC’s Oga at the Top who stood askance when you were beating his staff officer.

In endorsing Labour Party candidate Peter Obi for president, you said “one important point to make about Peter is that he is a needle with thread attached to it from North and South and he may not get lost.”

Since when did you know that? You were PDP’s extra-constitutional Party Leader in 2003 when your party snatched Obi’s governorship election victory in Anambra State, in broad daylight. He had to fight in court for three years before he regained his mandate. Your PDP-dominated State Assembly then impeached him, and after a court brought him back, you engineered INEC to conduct an election in 2007 when Obi’s tenure had not ended. Your Special Adviser Domestic Affairs even occupied the Governor’s chair in Awka for ten days before the courts threw him out and restored Obi. Why are you now praising Obi to high heavens after punishing him that much?

You said in your letter that “it is not right for any of us to be sanctimonious, to see ourselves as saints and the rest as devils incarnate.” We knew you were not a saint because a few years ago, at the launching of Colonel Ahmadu Ali’s autobiography, the two of you told a story about an event

that happened during the Gowon regime, which nearly caused a diplomatic row because it involved some embassies in Lagos. As Colonel Ali revealed, it was actually you that caused the problem but he covered you up when the Head of State exploded and even threatened to sack him from the army.

General Gowon, who was present at the book launch, remembered the event, laughed heartily and said it was the first time he heard that you were behind it. If you are a saint, why did you hide the truth from your Commander-in-Chief for nearly 50 years?

You said in your letter that “let us agree to move forward together without bias and discrimination.” Colonel Ahmadu Ali told another story, that when he was Federal Commissioner for Education in the Gowon regime, he was busy establishing federal universities, polytechnics and colleges of education all over the country. He said you lobbied him to give you a Federal Advanced Teachers College to locate in Abeokuta. He in turn demanded that you, as Federal Commissioner for Works, must build a road to his hometown, Idah. The two of you made a deal. Is that not bias and discrimination?

You said in your letter, “Let’s stop criminalising and demonising one another.”

Were you not the one who had a notice pasted on the fence of your Ota Farm in the 1980s that “Armed robbers and journalists not allowed”? By equating us with armed robbers, you criminalised and demonised us.

Sir, you also wrote in your New Year message that “derogatory attitude and mindset do not build any human institution, let alone a nation.” It reminded me of one incident that I personally witnessed in 2001 when, as Editor of New Nigerian, I was among three journalists invited to interview you on your monthly Media Chat. We sat in the State House studio waiting for you and when you arrived, you asked if the Inspector General of Police that you sent for had arrived. He had not, so you took your seat, ready for the live chat to begin.

You were then told that the IG, Alhaji Tafa Balogun, had arrived. From your seat you shouted, “IG!” To my utter shock, Alhaji Tafa shouted back, “My father sir!” He darted across the studio and knelt down before you.

You didn’t tell him to stand up. Instead, you whispered something in his ear. Even me who was sitting closest to you, I did not hear it. Alhaji Tafa, may Allah grant him rest in Aljannat, stood up shouting, “My father sir!

My father sir!” He then darted out.

My question is, what was it that you whispered into the IG’s ears? Why did you whisper it in very low tones? You sounded to me that day like a policeman at an illegal road block.

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