WEDNESDAY 10TH JANUARY 2024

FCCPC Act Shows Tinubu May Have Breached Law in Removal of Irukera Falana: ex-EVC deserves commendation for getting tobacco company to pay $110 million fine to Nigeria Argues use of ‘dismissal’ to describe his removal libellous FG: Irukera, Okoh relieved of their duties, not dismissed

Emmanuel Addeh in Abuja

A THISDAY review of the Act setting up the Federal Competition and

Consumer Protection Commission (FCCPC) has shown that President Bola Tinubu may have erred in law in his decision to unilaterally remove

the agency’s Executive Vice Chairman, Babatunde Irukera.

On Monday, Tinubu announced what he termed the “immediate dis-

missal” of the chief executive officer of the federal government agency.

He said it was in conformity with plans to restructure and reposition

critical agencies of the government towards protecting the rights of Nigerian consumers.

A statement by the presidential

spokesperson, Ajuri Ngelale, said Irukera had been directed to hand Continued on page 10

Wednesday 10 January, 2024 Vol 28. No 10500. Price: N400

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Stock Market Gains N1.6tn in One Day... Page 5

In Move to Reduce Cost of Governance,Tinubu Slashes Govt Officials’ Entourage for Local, International Trips by 60% Deji Elumoye in Abuja

In a move to cut cost of governance at the federal level, President Bola

Tinubu has directed that all official entourage to state and international events be drastically slashed by 60 per cent.

He has also directed that for every local trip of government, security details would henceforth be drafted from the host state.

Presidential spokesperson, Ajuri Ngelale, who made this known yesterday, while briefing newsmen at the State House,

Abuja, explained that by the new directive, the President would now travel with only 20 officials unlike before when the number was over

50 people; the Vice President would now travel with five officials, the Continued on page 10

Nobody's Above Law in Nigeria, Say EFCC, ICPC as Interrogators Grill Edu Say they’ll probe anyone not playing by the rules Anti-graft agency quizzes bank chiefs Tunji-Ojo in Villa, affirms no cause for alarm Afenifere seeks open, fair investigation Suspension not enough, Atiku’s aide declares Emmanuel Addeh, Deji Elumoye, Chuks Okocha, and Kingsley Nwezeh in Abuja The Economic and Financial Crimes Commission (EFCC), yesterday, questioned suspended Minister of

Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, over payment of N585 million public funds into a private account.

Edu’s interrogation came as heads Continued on page 10

Ready to Battle Graft...

L-R: ICPC Chairman, Dr. Musa Aliyu (SAN) and EFCC Chairman, Mr. Ola Olukoyede when the duo met at EFCC Headquarters in Jabi, Abuja... yesterday

Tiwa Savage Petitions Police, Alleges Threats to Life by Davido... Page 15

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T H I S D AY • WEDNESDAY, JANUARY 10, 2024

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580

NEWS

FRENCH AMBASSADOR's VISIT TO ACCESS HOLDINGS...

L-R: Head, Government and Stakeholder Relations, Access Holdings Plc. Mr. Victor Willie; Group Chief Executive Officer, Access Holdings Plc. Dr. Herbert Wigwe; French Ambassador to Nigeria, Mrs. Emmanuelle Blatmann; and Chief Communications Officer, Access Holdings Plc. Mr. Amaechi Okobi, during the farewell visit of the French Ambassador to Access Holdings Plc in Lagos… yesterday

Stock Market Gains N1.6tn in One Day Kayode Tokede The market capitalisation of the Nigerian Exchange Limited (NGX) gained N1.6 trillion yesterday, as investors’ demand for large and mid-cap stocks, especially banking stocks surged.

The market capitalisation rose by N1.6 trillion to close yesterday, at N45.524 trillion from the N43.957 trillion it closed for trading the previous day.

The NGX All- (NGX ASI) appreciated by 2,863.26 basis points or 3.56 per cent to close at 83,191.84 basis points from 80,328.58 basis points. The 83,191.84 basis points was another milestone in the history of Nigerian stock market as investors in the few days of 2024 trading have gained 11.30 per cent average return on their investment.

The Banking Index gained 8.2 per cent just as the Insurance Index rose by 6.4 per cent, The upswing was driven by price appreciation in large and medium capitalised stocks amongst which were: Presco, Dangote Cement, MTN

Nigeria Communications (MTNN), BUA Foods and Transcorp Hotels.

As measured by market breadth, market sentiment was positive, as 72 stocks gained relative to 13 losers.

Cadbury Nigeria Plc, FBN Holdings (FBNH) Plc, FTN Cocoa Processors, Guinea Insurance, Mutual Benefits Assurance, Unilever Nigeria and Universal Insurance emerged the highest price gainers of 10 per cent each to close at N18.15, N28.60, N2.20, 44 kobo, 77 kobo, N18.15 and 33 kobo per share respectively.

FBN Holdings once again crossed the N1 trillion market capitalisation level to N1.03trillion.

Meanwhile, Wema Bank and Zenith Bank followed with a gain of 9.99 per cent each to close at N8.92 and N47.35, while International Breweries advanced by 9.98 per cent to close at N5.29, per share.

On the other hand, TotalEnergies Marketing Nigeria led others on the losers’ chart with 10 per cent to close at N346.50, per share. DAAR Communications followed with a decline of 9.40 per cent to close at

N1.06, while R.T. Briscoe Nigeria shed 8.45 per cent to close at 65 kobo, per share.

SUNU Assurance lost 7.69 per cent to close at N1.20, while Prestige Assurance depreciated by 7.41 per

cent to close at 50 kobo, per share.

The total volume traded advanced by 18.5 per cent to 1.41 billion units, valued at N24.68 billion, and exchanged in 17,144 deals.

Transactions in the shares of Fidelity

Justice Akintayo Aluko of the Federal High Court sitting in Lagos has granted an ex-parte motion stopping the proposed Annual General Meeting (AGM) of the Industrial and General Insurance Company Plc (IGI) that had been scheduled for January 22, 2024.

The court granted the motion against the company and 10 others until the Motion for Interlocutory Injunction is heard and determined.

Justice Aluko granted the ex-parte application upon perusing the affidavit in support of the motion deposed to by Rotimi Fashola, an Insurance Broker with the written address and exhibits attached, and also, the submissions of the lead counsel for the Petitioners, Prof.

Oludayo Amokaye, who moved in terms and prayed the court to grant the reliefs.

The petitioners in the suit marked FHC/L/CP/2340/2023 are Special Event Limited, Rotimi Fashola; Oluwarotimi Edu; Toyin Fakunle; Alex Osula; Obayomi Lawal; Bashorun Oladipo Adegbite (Executor of the estate of Late Alhaji Abdullateef Oladimeji Adegbite); Olusina Elushakin; Bandele Olabode Vincent; (Executor of the Estate of late Ola Vincent); Trustees Of Ola

Vincent Foundation; Taiwo Subuola Bali (Executor of the estate of late Edith Adenike Vincent); Jaiyeola Olatokunbo Vincent; Taiwo Subuola Bali; Kehinde Olatunji Vincent; Bandele Olabode Vincent and June Fatima Vincent.

The respondents were: IGI Plc, Mr. Akinlolu Akinyele; Mr. Augustine Olorunsola; Mr. Kanayo Chucks Okoye; Mr. Gafar Kayode Animashaun; Ambassador Nuhu Bamali; High Chief Oriyomi Ayeola; Mallam Sadiq Isa-kaita; Mr. Kabir Ayinde-Tukur; Mrs. Olubukola Olufunke Akomolafe and Coopvest Limited.

The petitioners through their team of lawyers led by Amokaye had pursuant to Section 124 of the Companies and Allied Matters Act 2020, Laws of the Nigeria 2020 and Rules 15 and 18 of the Companies Proceedings Rules 2004, filed a petition on the 16th of November, 2023, and had put the 1st Respondent on notice.

However, in an apparent attempt to overreach the Petitioners, the 1st Respondent, IGI had advertised its AGM for the 22nd of January, 2024, sequel to which the petitioners and their Counsel approached the Court vide a Motion for Injunction.

The Court after listening to the plight of the petitioners agreed with

shares valued at N3.779 billion.

Transnational Corporations (Transcorp) traded 108.340 million shares worth N1.576 billion, while Access Holdings traded 85.208 million shares worth N2.525 billion.

FG Sets Up Panels to Hasten Highways Devt Programme Seeks review of scope, cost of projects

Emmanuel Addeh in Abuja The Minister of Works, David Umahi, yesterday inaugurated three committees to fast-track the implementation of the Highway Development and Management Initiative (HDMI), a Public, Private Partnership ( PPP) arrangement in the construction, operations and

maintenance of highways in the country.

The programme expects concessionaires to recoup their investments through toll and non-toll revenues as may be negotiated, a statement from the ministry said.

Speaking during the event, Umahi harped on the need for the committees to work effectively,

Court Stops IGI from Holding Annual General Meeting

Wale Igbintade

Bank led the activity with 141.749 million shares worth N1.965 billion.

FCMB Group followed with account of 128.974 million shares valued at N1.485 billion, while United Bank for Africa (UBA) traded 117.713 million

them that the holding of the AGM would make the substantive petition an academic exercise and foist a fait accompli on the Court since the very acts sought to be ratified at the AGM are the subject of the Petition.

The Court therefore granted an Interim Injunction restraining IGI from holding its proposed AGM until the hearing and determination of the Motion on Notice.

In the Ex-parte motion, the petitioners prayed the court an order of Interim Injunction restraining the first respondent (IGI) by itself, her privies, agents and legal representatives from holding its Annual General Meeting for the 22nd of January 2024 or any other time, until the final determination of the motion on notice or the petition as the court may deem fit to make in the circumstances.

They also prayed the court for an order permitting them to serve the motion on notice along with the Court orders on the first respondent (IGI) and other respondents. And any other order or orders the court may deem fit to make in the circumstances.

In his ruling, Justice Aluko held, "That an Order of Interim Injunction restraining the 1st Respondent by itself, her privies, agents and legal representatives from holding the

1st Respondent's Annual General Meeting scheduled for the 22 of January 2024 or any other time until the final determination of the Motion on Notice is hereby granted.

"That an Order permitting the applicants to serve the Motion on Notice along with the Certified True Copy of the Order of the Honourable Court on the 1st Respondent and other Respondents is hereby granted.

"That the applicants shall file an undertaking as to damages to indemnify the respondents in the event that this order ought not to have been made."

The petitioners, who are existing shareholders of IGI are protesting the alleged acquisition of 40.7 shares of IGI without adherence to proper procedure including the non-observance of pre-emptive rights of existing shareholders.

The aggrieved shareholders also alleged that there was no proper follow-up of regulatory clearances and lack of clear evidence that funds that match the acquisition were injected.

They stated that the alleged illegal acquisition were done without an AGM clearance by the members of the company.

The case has been adjourned to January 16, 2024 for hearing of Motion on Notice.

bearing in mind the expectations of Nigerians in terms of transparency, standard and efficiency in contract negotiations.

He noted that contract with some concessionaires had been consummated, but said that the current economic dynamics and the new policy direction of the present administration would require a review of the scope of work and cost implication.

He charged the concessionaires to abide by the criteria set and the timeline for the projects.

“We want to have a standard road infrastructure to toll. Our business is to ensure that your design conforms with the ministry’s standard of design, that is why we are making the director of roads and bridges of the ministry to be the chairman of the committee on scoping and design.

“We don’t want to do just a patch on the road and give it to the public for you to toll. The public will resist. We want to have a standard road to toll.

“We have to provide alternative roads because by law you cannot toll road if there is no alternative route to it . It is very important that every of the projects must have alternative routes,” he stated.

The number of toll gates and toll stations, he said, will be determined by the Infrastructure Concession Regulatory Commission ( ICRC).

“We also have to put CCTV Cameras, Solar Light and Security on our roads. Whatever that will make our roads safer is very important to us. All these must be considered part of the business,” he explained.

The three committees set up by the minister for the actualisation of the federal government’s HDMI programme are to handle: Scoping and design, financial due diligence and agreement review.

Umahi warned the concessionaires of the consequence of not meeting up with the rules of engagement.

“I must say that in case timelines were set and any company couldn’t meet up with the timelines, we may not continue processing anything with that company.

“In all our biddings in 2024 going forward, every cost element must be disaggregated. The procurement law has set up profit for the contractors.

We will verify the cost in respect of concessionaires.

“We have to ensure that the cost you are putting will do the job. We don’t want you to engage and come back and say there is inflation after we engage you on the project .

“We have to ensure that concessionaires have all what it takes to do the job. The ministry of works and the concessionaires must ensure that we are on the same page so that the citizens will not suffer,” he added.

He however, expressed happiness over the progress made by nine concessionaires in finalising their designs and documentation to achieve a financial close by the first quarter of 2024 and charged them to diligently work with the ministry’s committees for the final processes.

Speaking at the event, the Director Highways and Bridges, Awosanya Onatuga, said the directors and the concessionaires were ready to work concertedly to move the project forward.

“The contract has been consummated but there are certain dynamics that will necessitate a review of the scope of work that will dovetail into the cost of each project, and the minister is desirous to fast-track this process, so that the second phase can take off,” he said.

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NEWS

TRADE MINISTER VISITS Coca-Cola head office...

L-R: Managing Director, Nigerian Bottling Company, Mr. Goran Sladic; Director, Industrial Development Department, Federal Ministry of Industry, Trade and Investment, Mr. Muhammad Bala; Director, Public Affairs and Communications, PHOTO: ETOP UKUTT Coca-Cola Nigeria, Nwamaka Onyemelukwe; and Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, during the Minister's visit to Coca-Cola head office in Lagos ... yesterday

With Rising Pressure over Oil Output Deficit, Komolafe Says Nigeria Must Vacate Barriers to Investment NCDMB boss seeks collaboration with NUPRC, NAICOM

Emmanuel Addeh in Abuja and Peter Uzoho

As pressure mounts on Nigeria over its inability to raise oil production significantly, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, yesterday stressed the need for Nigeria to lower entry barriers for the much-needed investments in the sector.

Speaking during a visit to his office by the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Ogbe, Komolafe argued that

the competition for investment was becoming more intense and therefore required a rethinking of strategy.

The visit by the new NCDMB boss, a statement by the organisation said, was aimed at familiarising himself with chief executives of institutions that are represented on the NCDMB’s governing council as well as exploring areas of collaboration.

Komolafe congratulated the executive secretary on his appointment, noting that the industry was pleased to have a person of his pedigree as the new helmsman of the NCDMB.

The NUPRC’s boss highlighted the important role of the NCDMB in the operations of the upstream sector of the petroleum industry and commended the new executive secretary for seeking closer cooperation among the agencies.

He described the move as expedient, especially at a time when every hand is on the deck towards increasing Nigeria’s crude oil production, earning higher revenue for the nation, and reviving the economy.

He remarked that the Nigerian upstream sector is facing severe pressures because of the low crude oil

production and lack of investment in recent years.

He pointed out that the energy map of the world had changed considerably with the emergence of several new oil-producing countries.

This situation, he said, had induced a high level of competitiveness for investment capital, stressing that strategic actions must be taken to make the Nigerian environment investor-friendly.

“We must vacate entry barriers for investment. This is common logic when there is high competition.

We need to work together to lower barriers and do everything possible

Naval Chief Attributes Nigeria's Oil Increase to Military’s Tenacity Olusegun Samuel in Yenagoa The Chief of the Naval Staff, Vice Adm. Emmanuel Ogalla, has attributed the increase in oil production in the last six months to the good job done by his officers and men working in the oil-producing areas in the Niger Delta.

Ogalla, who said this yesterday when he paid a familiarisation visit to officers and naval ratings in the Central Naval Command (CNC), Yenagoa, the Bayelsa capital, said that oil production increased after troops took over security duties in the areas Ogalla also visited the Joint Task Force 'Operation Delta Safe, the Bayelsa Governor, Douye Diri and the central naval command.

He said: "When we started in 2023, precisely around June, we went to all the Naval formations, assessed the situation and looked at what was the problem at that time the nation’s oil production was about 700,000 barrel per day.

“We needed to raise our game and we became more intelligence driven, in the sense that we made sure we involved the community and other agencies to get information.

“In doing so, many things were put in place. We impounded many vessels operating illegally, particularly on oil theft.

“We demobilised these vessels and these criminals started seeing their ventures as very costly and the likelihood of them being caught is always there. That is why they have been curtailing their activities

in the last six months, resulting in an increase in oil production.

“This is what we have been doing and we are going to do more to increase our strategies. Why we are here today is to look at some of the areas we have to work on so that in 2024 we tend to increase oil-production capacity by another 50 per cent,” he said.

He said that the Nigerian Navy was determined to do more because the Navy has dedicated officers and ratings who are committed to doing their jobs.

According to him: “We have also recognised that in every organisation, you can have one or two bad eggs who will want to give a bad image to the Nigerian Navy. We have also put a mechanism in place to identify some of them.

“Some of them who have been identified, have been dealt with. We will continue to do that.

“I want to state that the environment we are operating in is a very complex one in the sense that the criminals have a lot of resources and reach they can employ to give a bad image to those who are fighting them.

“So, we are not surprised by their push back and all their antics they have employed to give the Nigerian Navy a bad image. But as a professional organisation and as people who are well trained, we will never be deterred.

“Our work will speak for us.

We will continue to do our best, arrest these criminals, deal with them squarely in such a way they will

know that whatever propaganda they use will not affect us.”

The CNS urged officers and ratings to take their duty seriously as their moral is very high and are be ready to turn the tide against economic saboteurs in 2024.

On his part, the OPDS Commander, Rear Adm. Olusegun Ferreira, said all efforts were being made to protect the maritime environment of the Niger Delta region.

He said that the mandate of the

OPDS was being achieved as they are doing all it takes to achieve their mandate of securing the national assets.

In his address, Diri, represented

by Deputy Governor Lawrence Ewhrudjakpo, commended the Nigerian Navy for the protection of oil facilities situated in Bayelsa and the Niger Delta at large.

The governor used the opportunity to clarify the state’s government position on pipeline surveillance contracts.

to motivate investment,” Komolafe added.

He assured that the NUPRC would partner closely with the NCDMB to achieve some of the programmes it had planned for 2024.

In his remarks, the executive secretary reiterated the need for teamwork and partnership amongst various agencies under the ministry of petroleum resources, to sustain the growth of the Nigerian oil and gas industry.

He hinted that collaboration would create an enabling environment that would attract investments and new projects into the sector, helping to create employment opportunities for youths and address insecurity in the polity.

While noting that local content development would be stunted if projects and investments in the oil and gas sector do not flourish, the executive secretary suggested that NCDMB and NUPRC should organise workshops to examine and resolve concerns identified by investors as obstacles to investments and new projects.

He hinted that investment decisions by international oil and gas companies are often affected by their assessment of their Return on Investments (ROI).

Ogbe also met with the Commissioner for Insurance of the National Insurance Commission (NAICOM), Mr. Olorundare Thomas in his office.

In his remarks there, he conveyed the willingness of the NCDMB to deepen its partnership with key

agencies of the federal government to achieve the economic aspirations of the Tinubu administration.

He promised that NCDMB would work closely with NAICOM to review and operationalise the insurance services regulations jointly issued by both agencies in June 2022, to get Nigerian oil and gas companies to patronise local insurance firms and retain spend in the economy.

The NAICOM Commissioner, Thomas, congratulated the executive secretary on his appointment, noting that he would be building on the solid foundation laid by his predecessors.

He described NCDMB as a formidable institution and commended the founding fathers of the board for their foresight in creating such an important agency.

Thomas also lauded the former executive secretaries of the NCDMB for their innovative projects and achievements while in office that added value to the economy.

He described insurance as the oxygen of business operations, but expressed concern that the insurance services regulations that were signed by the commission and NCDMB were yet to be implemented.

He requested the executive secretary to address the challenges, hinting that implementing the regulations would bring the needed changes in the insurance subsector of the oil and gas industry before being extended to other key sectors of the economy.

FG Banks on Kastina, Borno, Niger, 5 Others to Achieve Food Security James Emejo in Abuja

The Minister of Agriculture and Food Security, Senator, Abubakar Kyari, yesterday, said federal government was counting on eight frontline states including Kastina, Borno, Niger, Jigawa, Kano, Kebbi, Zamfara and Sokoto to achieve the country's food security agenda.

The minister also urged the state governments and local authorities to provide a verified lists of genuine farmers to participate in the second phase of the dry season farming.

Kyari, spoke while receiving the Governor of Kastina State, Malam Dikko Umaru Radda, in his office ahead of the planting

season.

He said the dry season farming would be focusing on crops including wheat, rice, maize and cassava.

The minister expressed confidence that the ministry could surpass cultivation of 400,000 hectares of farmland earmarked by President Bola Tinubu for food production if they receive necessary cooperation from the state and local government authorities.

He said, "We are out to achieve the President's agenda on food security, poverty reduction and job creation.

"We are also committed to achieving the President agenda to cultivate 400,000 hectares of arable land for this year.

"And we can exceed the president's target if the local government to come up with a genuine and verifiable list of farmers.

"It is very important because they have to know who the genuine farmers are."

The minister, however, harped on the need to get buy-in from the state and local government for them to achieve the goal they have set out.

Kyari, also revealed plans to set up a joint task force made up of the state and the federal government to ensure that the farming exercise programme was successful.

In his remarks, Radda explained that the aim of the courtesy visit was to signify the state's intention

to be part of the government food security effort assuring that they will join the initiative and ensure the country is food secure.

He said the state is the highest producer of maize and high quality cotton, sesame, soya beans, and millet.

The governor said a lot of initiatives were being implemented to enhance production and improve economic fortunes of the farmers.

Among other things, he said to achieve an all-year-round farming, the state launched an irrigation scheme where 2,000 farmers were supported by providing them with solar pump machines as well as incentives to boost production.

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NEWS

PARTNERSHIP FOR SECURITY...

L-R: The Commander, 82 Division Garrison, Enugu, Brig Gen M.M Abu; the Chief of Staff to the Governor of Enugu State, Barr. Victor Udeh; Chief of Military Intelligence, Maj Gen T.B Ugiagbe; Secretary to the Government of Enugu State, Prof Chidiebere Onyia; Chief of the Army Staff, Lt Gen T.A Lagbaja; Governor of Enugu State, Dr Peter Mbah; GOC 82 Division, Enugu, Maj Gen H.T Dada; Army Chief of Logistics, Maj Gen E. Akerejola; and the Provost Marshal, Maj Gen A. Garba, during a working visit by the Chief of the Army Staff to Governor at the Government House, Enugu... yesterday

Shettima: Tinubu Ready to Eliminate Bottlenecks Affecting MSME Space FG set to formalise one million businesses at discounted rate VP visits IDP camp, promises more humanitarian aid, skills development

Deji Elumoye in Abuja

The federal government has announced plans to formalise one million businesses across Nigeria at a discounted rate.

Vice President Kashim Shettima, in a statement issued by his media assistant, Stanley Nkwocha, disclosed this yesterday, when he launched the Expanded National MSME Clinic in Makurdi, Benue State capital, marking the first stop on a nationwide journey to empower small and medium-sized businesses.

The vice president stressed that President Bola Tinubu was committed to resolving the bottlenecks affecting the MSME space in Nigeria and would persist until the issues were resolved.

Shettima noted that the N75 billion loan scheme from Bank of Industry (BOI) and Access Bank's discounted N50 billion fund offer was already in place as crucial financial support for entrepreneurs.

The MSME Clinic, the first of its kind under the President Bola Tinubu administration, aims to empower micro, small, and medium enterprises (MSMEs) by breaking down barriers and providing crucial resources.

Benue's pioneership of the MSME Clinic sets the stage for a nationwide rollout scheduled to traverse Ebonyi, Ogun, Delta, Kaduna, Borno, Katsina States and the Federal Capital Territory (FCT) in a meticulously planned itinerary for the first half of 2024.

This would culminate in the National MSME Awards, a fitting celebration of entrepreneurial spirit coinciding with World MSME Day, on June 27, 2024 in Abuja.

Addressing a mammoth crowd of entrepreneurs and stakeholders at the Ibrahim Badamosi Babangida (IBB) square in Makurdi, Shettima emphasised the federal government's commitment to creating a thriving MSME ecosystem.

He acknowledged the crucial role MSMEs play in job creation and economic development, even as he pledged government's unwavering support to empower them.

"We have everything to guide your ambition," the vice president assured while delivering his speech titled, "Benue State: Nurturing Enterprises, Embracing Prosperity."

He said, “We currently have in place a N75 billion nine per cent single-digit loan from BOI. Additionally, Access Bank has made N50 billion of their fund available to MSMEs at a discounted rate of 15 per cent, which could significantly increase based on loan performance.

“Mr. President is committed to resolving the bottlenecks affecting the MSME space in Nigeria and will persist until these issues are resolved.”

Shettima hailed the state's industrious spirit and entrepreneurial drive, describing it as a "beacon of inspiration" for the entire country.

"This clinic isn't just about fulfilling President Tinubu's promise," declared Shettima, adding that "it's a tribute to Benue's unmatched work ethic and entrepreneurial drive."

Lauding the state's dedication to agriculture, art and commerce, he pointed out that, “these stand as a testament to the remarkable productivity ingrained within the core of Benue State.

"Every business owner in Benue, whether in Makurdi or Otukpo,

Gboko or Katsina-Ala, is a priority," he added.

The vice president also announced plans by Tinubu for a world-class fashion hub in Makurdi, dedicated to the state's thriving tailoring cluster which, according to him, is set to be operational within 90 days.

“Now, hear another piece of good news from Mr. President: His Excellency, President Bola Ahmed, has unveiled the plan to establish a world-class fashion hub in Makurdi for use by small businesses in the

11am, at Harbour Point Event Center, 4 Wilmot Point Road, Victoria Island, Lagos.

Also, the funeral service holds on January 18, 2024, at RCCG Olive Tree Parish, Banana Island Road, Ikoyi, Lagos.

“The interment is strictly private and reserved for family members and few invited guests,” it added.

It stated: “With the permission of Imoyo Family, ACAMB is deeply saddened to announce the burial details for its distin-

like Andor Global Foods to innovative motorcycle builders and traditional attire weavers.

He also celebrated Aorkwagh Farms' work in regenerative farming and the "Made in Benue" brand's creativity as examples of the state's entrepreneurial spirit.

Alia, who lauded their contributions to local agriculture, healthy living and cultural heritage however acknowledged the challenges faced

by MSMEs, including insecurity, regulatory hurdles, and access to

finance.

He assured participants that his administration was actively tackling these issues by streamlining processes, removing bottlenecks and enacting laws against extortion, including "matching ground."

Also speaking, Benue State Commissioner for Industry, Trade and Investment, Mr. Orpin Alumo, noted that the MSMEs Clinic would mark the turning around of Benue State, moving it from a civil service state to an industrial state.

11,000 Benefit from Lagos State Govt Micro-enterprise Support Scheme Segun James

A total of 11,885 participants benefitted from the Lagos State Government Micro-Enterprise Support Scheme (MESI) across 19 skills acquisition centres across the State in the last four years.

The State Governor, Mr. Babajide Sanwo-Olu disclosed this at the graduation ceremony at Ikeja, yesterday.

So far the State government has graduated 18,886 students from the acquisition centres since 2019 till date.

Also empowered in the last four years were 4,000 widows as recipients at the various poverty alleviation programmes by Sanwo-Olu, who was represented

ACAMB Announces Funeral Arrangements for Late Imoyo

The Association of Corporate & Marketing Communications Professionals in Banks in Nigeria (ACAMB) has announced the burial details for its late Publicity Secretary and Head of Media at Access Holdings, Mr. Abdul Kolawole Imoyo, who passed away last month in Lagos.

ACAMB made the announcement in a statement signed by its President, Rasheed Bolarinwa.

The Service of Songs is expected to hold on January 18, 2024, at

tailoring cluster in the state. This hub will be ready in 90 days,” Shettima further said.

Earlier in his address, the state Governor, Rev. Fr. Hyacinth Alia, declared that Benue State was open for business, just as he emphasised the state's commitment to supporting and empowering small and medium-sized businesses (MSMEs) as a key driver of economic growth.

The Governor highlighted the diverse range of MSMEs thriving in Benue, from organic food producers

guished Publicity Secretary, Mr. Abdul Kolawole Imoyo, who passed away in the early hours of Sunday, December 17, 2023, at First Cardiology, Ikoyi, Lagos, after a brief illness.

“Mr. Imoyo, a highly regarded Corporate Media Manager and Journalist, leaves behind a legacy of excellence in the field of Corporate Communications.

“The burial arrangements, as communicated by the Imoyo family, are as follows:

by his Deputy, Dr. Kadri Obafemi Hamzat said, "I'm excited to be here to see what is going on. A lot of people in our country always complain instead of taking action.

No problem can be solved by complaining. Problems get solved when people take action."

The Lagos State Micro-Enterprise Support Initiative is an economic intervention programme for indigent, vulnerable, and graduands of Skills Acquisition Centres in the State.

Working tools were provided in order to enhance their trade proficiencies. Milling machines, sewing machines, professional hair-dryers, barbing clippers with sterilising units and generators, pop-corn machines, sharwama grillers and toasting machines, snail pens, industrial cookers, tile laying machines, as well as garri processing equipment, were among the items distributed to the beneficiaries.

Sanwo-Olu, expressed delight over the initiative, noting that the gesture was one of the measures put in place by his administration to alleviate poverty.

He went further, "Today, many of you will receive support in the form of milling machines, sewing machines, professional hair-dryers, barbing clippers with sterilising units, generators, pop-corn machines, Shawarma grills, toasting machines, snail pens, industrial cookers, tile laying machines, and garri processing equipment to aid the realisation of the economic aspirations of the most vulnerable people.

"Across the globe, governments,

private sectors, and civil societies are exploring better ways to achieve poverty reduction and accelerate women's empowerment through indigenous economic development strategies, and as the fifth largest economy in Africa, it is compelling on us to harness the potentials of our diverse population to drive accelerated, sustainable and inclusive economic growth.

"Empowering indigent and vulnerable residents in Lagos State requires a multi-faceted approach, addressing immediate needs and focusing on long-term solutions.

“We are earnestly developing social safety nets through various programs, offering direct assistance such as cash transfers, food vouchers, healthcare subsidies, and access to quality education, alleviating immediate hardships and improving citizens overall well-being.”

He added: "This administration is committed to improved skills development and education, harnessing enhanced skills acquisition training and adult education to empower residents with qualitative and valuable skills.

“We aim to increase employability and open up opportunities for income generation through collaboration with relevant stakeholders, including educational institutions, NGOs, and the private sector.”

According to the governor, "Building a successful nation is not solely the duty of an individual but a collective task. We must work hand in hand to ensure the sustainable growth of these micro-enterprises

and provide support to those who need it the most.

"I urge you not to sell these items as the State government has invested significantly in various empowerment tools. You are expected to make judicious use of these resources. They are not gifts to be kept away but put to use as tools to facilitate your journey to becoming economically and financially independent as well as employers of labour.

"It is important for you to understand that there are opportunities.

Just few weeks ago, at this same venue, about 5,000 graduands were empowered. This is what Lagos is doing, this is what we are known for.

"The administration of Governor Sanwo-Olu recognises the importance of micro enterprise to create wealth. It is a tangible demonstration of our commitment to empower young people."

In her welcome address, the Commissioner for Women Affairs and Poverty Alleviation (WAPA), Hon. Cecilia Bolaji Dada said, "It is a grand privilege to welcome you all to the MESI being organised by the Lagos State Government, through the Ministry of Women Affairs and Poverty Alleviation aimed at alleviating the economic plight of the Lagos citizenry.

"We recognise the plight of those who are less fortunate and face significant challenges in their daily lives. It is our duty as a government to ensure that no one is left behind and that everyone has equal opportunities to succeed.

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NNPC Allocates Four February Crude Oil Cargoes to Dangote Refinery

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) is expected to supply four crude cargoes from its February programme to the $20 billion Dangote refinery, Reuters reported yesterday.

The facility is poised to begin operations after years of construction delays, three sources with direct knowledge of the matter told the news agency.

The Dangote refinery, which will be Africa's biggest refinery said it could begin test runs as early as this week, adding that it has received six initial crude cargoes.

A member of the Organisation of Petroleum Exporting Countries (OPEC), Nigeria currently relies

on imports for most of the fuel it consumes, but the Dangote refinery is expected to make it self-sufficient and able to export fuel to neighbours in West Africa, potentially transforming oil trading in the Atlantic Basin.

Dangote received 1 million barrels of Nigeria's Agbami crude on Monday, lifting total volumes received since December to 6 million barrels.

NNPC supplied the 650,000 barrel per day (bpd) plant with four of the cargoes, two of the sources said. A spokesperson for NNPC declined to comment, according to Reuters.

Dangote's Group Executive Director for Strategy, Portfolio Development and Capital Projects, Edwin Devakumar, said the company did not request cargoes from NNPC

for January.

"We are starting the refinery and if we continue to line up cargoes our inventory will build up as well as costs," he said.

"If everything goes well, we will run for eight-10 days of operation, then we will begin to line up cargoes," he added.

The refinery is also looking at crude supplies from other countries, he said without disclosing further detail.

One of the sources said that the refinery has nominated four NNPC cargoes for February.

A second source said that NNPC wanted to wait for the plant's test runs before sending more oil.

Initial processing capacity is expected to reach 350,000 bpd,

with the aim of ramping up to full capacity by the end of the year, Dangote said.

Designed for 100 per cent Nigerian crude with the flexibility to process other crudes, the refinery can process most African crude grades as well as Middle Eastern Arab Light and even US Light tight oil as well as crude from other countries.

Dangote Petroleum Refinery can meet 100 per cent of Nigeria’s requirement of all refined products, petrol, diesel, kerosene, and aviation jet, and also has a surplus of each of these products for export.

The refinery was built to take crude through its two Single Point Moorings (SPMs) located 25 kilometres from the shore and to discharge petroleum products

Nobody's Above Law in Nigeria, Say EFCC, ICPC as Interrogators Grill Edu

of the country's two anti-graft agencies, EFCC and Independent Corrupt Practices and Other Related Offences Commission (ICPC), Ola Olukoyede and Musa Aliyu (SAN), respectively, vowed that no Nigerian was above the law. They made the declaration when Aliyu visited Olukoyede at the EFCC headquarters, in what they said was meant to deepen collaboration between the two anti-corruption agencies.

Both men said the two agencies would investigate any public officer, who failed to play by the rules.

Olukoyede and Aliyu said events of the last 48 hours had shown beyond doubt President Bola Tinubu's commitment to containing corruption in public offices.

Sources at EFCC said some bank chiefs were also invited by the commission in connection with the investigation of the suspended minister. The bank chiefs were later allowed to leave.

A source said, "We did not arrest them. We invited them to come and clarify issues of concern and they honoured our invitation, they have since left. We did not arrest them.

Please, ignore social media reports."

Equally, yesterday, Minister of

Interior, Olubunmi Tunji-Ojo, who was, reportedly, linked with the N438 million contract awarded by Edu to New Planet Project, was sighted at State House, Abuja.

Tunji-Ojo told reporters there was no cause for alarm, and stressed that he was too intelligent to act stupid.

But Peoples Democratic Party (PDP) demanded the immediate suspension, investigation, and possible prosecution of Tunji-Ojo over his reported involvement in the alleged siphoning of N438 million poverty alleviation fund.

The pan-Yoruba socio-political group, Afenifere, urged Tinubu to intensify the fight against corruption, calling on him to ensure transparent probe of the alleged sleaze in the Ministry of Humanitarian Affairs and Poverty Alleviation.

Similarly, public communications aide to former Vice President Atiku Abubakar, Phrank Shaibu, yesterday, declared that Edu’s suspension was commendable, but not enough.

THISDAY learnt that Edu arrived the EFCC headquarters in Jabi, Abuja, at 11am, and appeared before interrogators with her aides and lawyer.

At the time of filling this report, the minister was still responding to

questions from investigators.

Edu’s appearance at the EFCC office came barely a day after she was suspended by Tinubu. She was caught in a N585 million disbursement scandal involving the humanitarian affairs ministry, which drew widespread criticism from rights groups and the public.

Olukoyede and Aliyu declared that the two agencies would investigate any public officer, who failed to act according to established guidelines.

They said recent events left no one in doubt about Tinubu's commitment to the fight against corruption in the country's public life.

The meeting between Olukoyede and Aliyu had in attendance the chairmen and management staff of EFCC and ICPC, and it was aimed at deepening mutual cooperation and synergy for greater impact in Nigeria's anti-corruption drive.

Aliyu stated that the visit to the EFCC was a show of commitment to the existing relationship between the two agencies. He expressed the readiness of ICPC, under his leadership, to provide the needed support and cooperation for the purpose of eradicating corruption in Nigeria.

Aliyu stated, "It is important for us to work together, and we cannot do this without a good relationship.

That's why I think I need to extend this hand of friendship to the EFCC so that we can effectively partner in the fight against corruption in Nigeria.

"I am aware that there's an MoU (Memorandum of Understanding) between the EFCC and ICPC and I'm willing and ready to partner whenever there's any issue of interest in the fight against corruption.

"I'll be reaching out to my brother and Chairman of EFCC on issues I think we can partner because there's no need for us to be duplicating responsibilities, wasting resources and time.

“I hope with this first meeting, we are going to be meeting regularly to review what we are doing together."

Olukoyede agreed with Aliyu on the need for collaboration. He said the meeting had also presented an opportunity for a review of the existing MoU between the two agencies.

“We have areas of similar mandates and with the population of about 250 million people, there's so much in our hands and I can tell

through three separate SPMs. In addition, the refinery can load 2,900 trucks a day at its truck-loading gantries.

Dangote refinery has a selfsufficient marine facility with the ability to handle the largest vessel globally available. In addition, all products from the refinery will conform to Euro V specifications.

The refinery is designed to comply with US EPA, European emission norms, and Nigeria’s emission/ effluent norms as well as African Refiners and Distribution Association (ARDA) standards.

“Once the 6 million barrels are fully delivered, it will facilitate the initial run of the refinery as well as kick-start the production of diesel, aviation fuel, and Liquefied Petro-

you that the enormity of the work demands that we work together,” he said.

The EFCC boss also said the political will of Tinubu to fight corruption, as demonstrated by recent events, was enough boost for anti-corruption agencies to give their best.

Olukoyede stated, "We believe that with the kind of president that we have, who is willing and ready to do the right thing, as demonstrated in the last 48 hours, it is clear that the president is providing the political will and the leadership for the anticorruption agencies to work and I believe that with this, there's no hiding place for us and we must ensure that we give our best.

"We are going to give the president the right support and we believe that the courage would be there to take the right decisions.

“Nobody is too big to be investigated in this country. Once you are not playing to the rules, we'll investigate you."

Tunji-Ojo in Villa, Says No Cause for Alarm

Minister of Interior, Olubunmi

In Move to Reduce Cost of Governance, Tinubu Slashes Govt Officials’ Entourage for Local, International Trips by 60% First Lady and the wife of the Vice President are now also allowed to have five accompanying officials respectively.

For local trips, the number of the entourage of the President has been reduced to 25, the Vice President 15, the First Lady and the wife of the Vice President 10 each.

The media adviser said the essence of the reduction was to bring total sanity and prudence in the management of resources.

His words: "President Tinubu has, by his most recent directive approved a massive cost cutting exercise that will touch across the entire federal government of Nigeria and the offices of the President himself, the Vice President and the office of the First Lady. It will be conducted in the following fashion.

"One, the official trips that will be undertaken within the country that is when Mr. President or the Vice President travels to any state within the country, the massive bills that accrued due to allowances and estacode for security detail coming from Abuja going and traveling into those states, will be massively cut due to the directive of the President, that the security outfits within states, whether it be police DSS, or branches of the military, will frontline his protective detail when he travels to those states, a major cost cutting initiative that will affect the Office of the Vice President as well as the office of the First Lady."

According to him, henceforth, ministers’ delegation for foreign trips would be a maximum of four officials, while the heads of the Ministries, Departments and Agencies (MDAs) would travel with the maximum of two officials.

He said: "Additionally, when any international travel is being approved, the following limits have been placed on all ministers of the Federation. Four members

of their staff, appointees and the like will be allowed to travel with a minister on official trip.

"For heads of agency that will be limited to two members of staff allowed to travel on an official trip.

Furthermore, the numbers that the President has now approved for official travel with him that will apply to his principal staff are as follows: "On international trips the President has directed that no more than 20 individuals be allowed to travel with him.

"That number will be cut down to five in the case of the First Lady.

Additionally, the number in the entourage on official international trips for the Vice President will be cut to five, the number that will be placed as a limit on the wife of the Vice President is also five.

"In terms of local trips, the President has approved a new limit of 25 members of staff to accompany him on domestic trips within the country.

"The Office of the First Lady is now limited to 10 staff members to accompany her on official trips within the country. The Vice President will be limited to 15 members of staff on official trips within the country, while his wife will be limited to 10 members of staff on officials within the country, the same as the first lady.”

It was gathered that a circular outlining the new directive has been sent out to the various ministries, departments and agencies from the office of the Secretary to the Government of the Federation (SGF).

Speaking further, Ajuri said: "It is pertinent to note that there is a difference between the number of members of staff allowed to travel with the presiding officials to international trips and those that are allowed for domestic.

"You will find that the numbers

on international trips are less than those allowed on domestic trips. This is because international trips are far more expensive across the board and the President is determined to bring total sanity and prudence to the management of the Commonwealth of our people.

"As a result of this, the President has directed that every federal MDA also including the office of the president itself and the Office of the Vice President as well as the offices of the first and Second

Ladies, are affected and bound by this directive of the president.

"Henceforth, the President is insistent that the notion of government wastage, the notion of recurrent expenditure being in excess, the notion that government officials will be allowed to conduct their affairs in a way that is different from what we are asking of Nigerian citizens with respect to prudence and cost management, those days are over.

"The President is insistent that the

prudence of government officials must reflect the prudence and efficiency of the Nigerian citizens and this is the directive of the President."

He warned that any official that flouts the directive would be doing that at his or her own peril.

According to him, "If there is anybody who feels that the directive of the President is not binding on them, who feels that the President will not uphold this directive in implementation and seeks to test it, they will do so at their own peril."

Dangote leum Gas (LPG) before subsequently progressing to the production of Premium Motor Spirit (PMS) or petrol,’’ the company said recently.

Tunji-Ojo, who was reportedly linked with the N438 million contract awarded by Edu to his company, New Planet Project, was seen at State House, Abuja, yesterday, where he dismissed the allegations against him.

There were, however, conflicting reports about Tunji-Ojo's presence at the seat of government as early as 10am. There were insinuations in some quarters that he was summoned

by Tinubu to explain the controversy, while others maintained that he was there on a routine visit.

A presidency source, who stated emphatically that Tunji-Ojo was not summoned, stressed that the issue of the contentious contract award might have been raised with the minister if he actually met with the president.

It was not clear whether TunjiOjo met with Tinubu, who had to reschedule many of his engagements yesterday because of other pressing issues, such as emerging developments from Niger Republic, where the military junta had released some members of the overthrown president’s family from detention.

However, when asked by newsmen to comment on the contract controversy before leaving the Villa about 2.05pm, the minister boasted, "We are too intelligent to be stupid.”

He had already denied any involvement in the N438 million contract awarded to New Planet Project Limited that he co-founded.

Tunji-Ojo explained in an interview Monday night on national television that he was no longer involved in the running of the firm, having resigned as a director in 2019.

Special adviser on media to the interior minister, Babatunde Alao, clarified the purpose of his principal's visit to the seat of government, and said he was there to brief the Continued on page 17

FCCPC Act Shows Tinubu May Have Breached Law in Removal of Irukera over to the next most senior officer in the agency, pending the appointment of a new chief executive officer.

But THISDAY has found that the president cannot unilaterally sack the FCCPC head without resorting to the Senate, according to the Federal Protection and Competition Act, 2018, setting up the agency.

According to the section dealing with removal from office in the Act, once a good case is established against any commissioner or the head of the organisation, the exercise of the powers of the president under the relevant section must be subject to the approval of the upper chamber.

It reads, “A commissioner may resign his office by giving three months written notice to the president through the minister. A commissioner may be suspended, or removed from office by the president if he's: found to have been unqualified for appointment as a commissioner pursuant to provision of this Act or in breach of conditions of his appointment.

“Has demonstrated inability to effectively perform the duties of his office; has been absent from five consecutive meetings of the board without the consent of the chairman, except he shows good reason for such absence, or is guilty of a serious

misconduct in relation to his duties as a commissioner, and as defined under public service rules.

“In the case of a person who possessed a professional qualification, he is disqualified or suspended from practising his profession in any part of the world by an order of a competent authority or is in a breach of the conflict of interest rules set out under section 14 of this Act.” However, the law added, “The exercise of the powers of the president under this section shall be subject to the approval of the Senate.”

There is no evidence that the president requested the Senate's nod before sacking the erstwhile FCCPC boss.

When THISDAY sought the opinion of renowned senior lawyer and human rights activist, Femi Falana, he noted that rather than being sacked, Irukera, who had reorganised FCCPC, should be sent a letter of commendation for turning around the agency.

Falana stated that the use of the word “dismissal” was also libellous.

He explained that the president had not told anyone the offence committed by Irukera and argued that the use of “commissioner” in the law also applied to the erstwhile FCCPC boss.

Falana said, “So the removal has to go through the Senate. And what is even more embarrassing is the use of the word ‘dismissal’. You do not dismiss somebody who has not committed an offence or has not been found wanting. This is a man who has done well for the country.

He did what no regulatory agency has done for the country.

“A tobacco company paid $110 million to Nigeria and to the coffers of the government. But the painful aspect, for me, is that I was just suggesting yesterday that that money be used to upgrade one of the cancer centres in Nigeria.”

Falana added, “It’s actually libellous also to announce the dismissal of a public officer who has not been found wanting or indicted for a serious misconduct. But what is important is that this is a man who should be commended by the entire country for the way and manner he organised the commission.

“This was recently demonstrated in the fine of $110 million imposed on the tobacco company, which has been paid to the coffers of the government.

That company will be laughing at us. So, you cannot justify it.”

The rights activist stated that before Irukera was removed he had other such pending matters, which would

have also benefitted the country.

According to him, “And upon it all, you said he has been dismissed.

Dismissal? He won $110 million at a time you need foreign exchange very badly and he has similar cases pending. Nobody has run that place like this guy. The guy has reorganised the place.

“This is arguably the most effective regulatory agency in the country and you treat him so shabbily as if he has committed an offence. The president can remove any anybody per se, but to say the person has been dismissed is libellous.”

However, in a brief note last night, the federal government, through an aide to the president, Bayo Onanuga, said Irukera and Alex Okoh of the Bureau of Public Enterprises (BPE) were relieved of their duties, not dismissed.

Onanuga clarified, "The president’s directive did not intend a dismissal.

The two men, who have served our country, were relieved of their duties by the president, as he scouts for their successors.

"The connotations implied in using the word dismissal were clearly not intended in the statement issued.

President Tinubu thanks the two men for their services and wishes them well in their future endeavours."

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courtesy call on Governor Abiodun...

L-R: The ES/CEO, Sugar Council, Mr. Kamar Bakarim; Minister of Industry, Trade and Investment, Dr. Doris Nkiruka Uzoka Anite; Ogun State Governor, Prince Dapo Abiodun and Dr. Rabiu Olowo, CEO, Federal Financial Reporting Council, during a courtesy call on Governor Abiodun at the Governor's Office, Oke-Mosan, Abeokuta... yesterday

NDDC Says over 900 Projects Abandoned in Rivers State FG approves N300bn for improved development in Niger Delta Blessing Ibunge in Port Harcourt The Niger Delta Development Commission (NDDC) yesterday revealed that 953 awarded projects by the commission were abandoned in Rivers State.

Representative of Rivers State in the Board of the NDDC, Chief Tony Okocha, revealed this during an interactive session with members of the Rivers State Council of Traditional Rulers (RSCTR), in Port Harcourt.

Okocha also said the current NDDC board was making frantic efforts to change the negative perception about the interventionist agency by the people of the Niger Delta region.

He said that it was the decision of the Board that the current leadership of the commission will lead a different example.

"We have started the process of a change, which also conforms with Mr. President’s Renewed Hope Agenda for Nigeria.

“In my study, it was clear to me that Rivers State is number two, in terms of states that have abandoned projects. Rivers State has 953 abandoned NDDC projects.

These projects are dotted and around the nooks and crannies of the state .

“We thought we could open up this interaction to ask ourselves and indeed ask our fathers, what happened? Because what

happened was before we came.

We are barely two months old. So, what happened? Why are these projects there uncompleted?

“My investigation again showed three things. The first is that some of these projects were abandoned because of the frightening nature of the NDDC board membership, that some managing directors or boards come, they award their own contracts.

“One of the things that had bedevilled this developmental stride is the inconsistency of government. Three months down the line, a board is set up and after three months, the same board is dissolved.

“Within the period they existed,

they would have awarded contracts to people. Sometimes, people take their own money, go to the field and don’t get their monies paid.”

In his remarks, chairman of the Rivers State Council of Traditional Rulers, Sergeant Awuse, appreciated President Bola Tinubu for the quality of persons he appointed into the NDDC Board.

Meanwhile, the federal government has recently approved N300 billion allocation from the 2024 Appropriation Act for improved development of the Niger Delta region.

The fund signed by President Bola Tinubu for the interventionist agency, NDDC aimed at tackling the issues of poverty and under-

Shaibu Kicks as Edo North PDP Leaders Back Asue Ighodalo’s Guber Run Adibe Emenyonu in Benin City Ahead of the February governorship primary election in Edo State, the state’s Deputy Governor, Mr. Philip Shaibu, has kicked against a meeting called by the former deputy governor of the state, Chief Mike Oghiadomhe to adopt Asue Ighodalo.

Oghiadomhe was the deputy governor of Edo State during the eight years tenure of former governor, Chief Lucky Igbinedion.

The said meeting called by Oghiadomhe on the platform of the Peoples Democratic Party PDP (PDP), had some leaders of the party from Edo North senatorial zone in attendance.

Those present at the meeting were: Speaker of the State House of Assembly, Blessing Agbebaku; former Senator who represented the district in the Senate between 2007 - 2001, Yisa Braimoh; former member, representing Owan federal constituency, Johnson Agbolagba, among others.

At the meeting, the attendees unanimously adopted Ighodalo as their preferred candidate of the PDP in the September governorship election.

However, while addressing a crowd of supporters at his country

home in Jattu, Etsako West local government area of the state shortly after attending the Auchi Day annual celebration, Shaibu described the meeting of the PDP leaders as a slight on his person and office as a sitting deputy governor of the state.

According to him, the meeting was null and void and of no effect.

He said: "Information reaching me says that Chief Mike Oghiadomhe, an elder of our party, called a meeting of PDP leaders in the six local governments of Edo North in his country-home, Fugar, Etsako Central local government and pressurised them to endorse one of the aspirants for the forthcoming governorship primary election in the state.

"To me, that meeting was not held, because by virtue of my office as deputy governor, I remain the leader of the PDP in Edo North and deputy leader of the party in the state. Any meeting held in the Senatorial Zone without my knowledge is deemed null and void.

"I respect Chief Mike Oghiadomhe as my elder and as my predecessor in office. Any meeting held in Edo North without my knowledge or input remains null and void."

"Chief Oghiadomhe could not

allow such a thing to happen when he was in office as deputy governor and as a leader of Edo North. PDP is a party of structure and of hierarchy well defined in its constitution. I plead with all of you to remain calm and not be provoked by this action because after the primaries, we need to come together as members of the PDP,

so, we will need everybody to win the main election in September. " Oghiadomhe is trying to provoke us but we will remain calm because this project is not about Philip Shaibu, it is God's own project. You all saw what happened at the Otaru's palace today. It was very clear that God has a hand in this project," he maintained.

development of the region.

The Executive Director Finance and Administration (EDFA), of NDDC, Mr Boma Iyaye made the disclosure yesterday, at the interactive session with members of the State Council of Traditional Rulers, organised by the Rivers State representative in the NDDC, Mr Tony Okocha.

Addressing the traditional rulers, Iyaye assured the monarchs that 2024 would be a better year for the Niger Delta region.

"The federal government has approved N300 billion for the Niger Delta region. That is a very serious leap from what it used to be. We used to be in the region of N109 billion for the entire region but in this year 2024 it has moved from about N100 billion to N300billon.

"It means more money for the states, more money for Rivers State.

And the board and management in their wisdom are trying to see how states will get higher allocations, especially the big states. So we are voting whopping sums for development in these states," he said.

The EDFA, NDDC further stated that Rivers State, as a major source of the national revenue will get its fair share of development based on the agreed to agreed formula.

"Rivers State, as has been said is one of the major producers of revenue that we share in this

country. If you put the other states together, the entire Niger Delta region produces about 80-90 per cent of the entire revenue that is accrues to our dear country and so the region is very important.

"Nobody will toy with it and no government or administration will toy with the Niger Delta region.

And that is why you can see that the president think it important to immediately appoint the board for the NDDC", Iyaye stated.

The representative of Rivers State in the Board of the NDDC, said the interactive session was necessitates by the desire of the current NDDC Board to change the negative trajectory of the Commission.

He said: “It was the decision of the Board that we will lead a different example. We have started the process of a change, which also conforms with Mr. President’s Renewed Hope Agenda for Nigeria.

Earlier in his remarks, chairman of the State council of traditional ruler, Awuse, expressed his gratitude to the NDDC representative for the visit.

He noted that it was first of its kind to the council since the inception of NDDC and blessed him for the show of respect and recognition to members of the council, praying God to help him succeed in the office.

Israel’s Supreme Court Denies Independent Foreign Journalists Access to Gaza Michael Olugbode in Abuja

Israel’s Supreme Court has rejected a petition from the Foreign Press Association in Jerusalem to allow independent access for journalists to report in the Gaza Strip.

The apex court while recognizing the infringement on the freedom of the press in its ruling on Monday, however argued that the restrictions on entry are justified on security grounds.

The court in accepting Israeli defense authorities’ claims that journalists in Gaza could be put at risk in wartime and endanger

soldiers by reporting on troop positions, said it was too dangerous for Israeli personnel to be present at the border to facilitate press entry to Gaza.

The court however invited the FPA to ask for access when circumstances change.

The FPA in a statement issued by its board after the court ruling on Tuesday, expressed disappointed in the decision, lamenting that Israel has banned independent foreign press access to Gaza, for 95 days straight, which is unprecedented.

It said the Israeli military’s embedded journalist escorts

have been limited to select foreign media, and are highly controlled and short in time.

It said: “We believe Israel’s concerns about reporting on troop positions do not withstand scrutiny at a time when Palestinian journalists continue to operate in Gaza, and when it is vital for foreign press to access areas of Gaza where troops are not present. Contrary to the claim of Israeli authorities and the court, during the war only one foreign journalist has been granted entry into Gaza through Egypt on an escorted visit.

FPA in the statement, said as

Israel allows humanitarian aid into Gaza through its Kerem Shalom crossing, it believes solutions can be found to overcome security concerns and allow journalists to enter Gaza.

The statement read: “The FPA believes that even under the current circumstances, the authorities are able to work out a satisfactory arrangement with foreign journalists to better serve all parties.

“The FPA will monitor Israel’s policies at the border and will expect independent press access as conditions develop.”

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INTERNATIONAL COCOA, CHOCOLATE FORUM...

L-R: MD/CEO Nexim Bank, Mr. Abba Bello; Minister of Budget and Economic Planning, Senator Abubakar Bagudu; Minister of Finance and Coordinating Minister for the Economy, Olawale Edun; Mrs Amy Advoa Appiah ; First Lady of Kwara State, Amb. Olufolake Abdulrazaq; Oloni of Eti-Oni, Oba Dokun Thompson Gureje; and Queen Angelique- Monet Gureje Thompson at the International Cocoa & Chocolate Forum which took place in Abuja...yesterday

Tiwa Savage Petitions Police, Alleges Threats to Her Life by Davido

Vanessa Obioha Nigerian singer-songwriter Tiwa Savage, yesterday filed a petition against Grammy-nominee David Adeleke, better known as Davido, citing alleged threats to life. In the petition dated January 9, 2024, to the Lagos State Commissioner of Police, Savage accused Davido of uttering “very disrespectful, malicious and derogatory words to my person.”

This came after a post she made on her Instagram story on December 23, 2023, featuring one of Davido's baby mamas, Sophia Momodu.

Savage stated that the event of that day had led to “a barrage of calls and messages from our mutual friends, asking me what I did to Me David Adeleke, that he’s upset that I choose to maintain a relationship with Imade’s mother, Sophia Momodu who he’s having issues with and also painting the exchange to look like I was the aggressor.”

Sophia, a niece to the publisher and politician, Dele Momodu, has had a tumultuous relationship with Davido, being the mother of his first child, Imade. Their history includes a highly publicized custody battle for Imade a few years ago, drawing significant media attention. The dispute even involved their respective families, with Davido disrespecting Momodu in his statements.

Last year, Sophia hinted at considering a change in her daughter's

surname, citing Davido's perceived neglect of his fatherly responsibilities towards Imade.

However the saga between Savage and Davido has been ongoing in the past few days marked by both artistes unfollowing each other on Instagram. Tensions escalated when Savage's ex-husband, Tunji 'Teebillz' Balogun, took to social media in a series of posts confronting Davido.

Teebillz explicitly warned Davido not to interfere with Savage, who is the mother of his son.

On Monday, Teebillz posted a graphic with the text ‘A father who abandons his family is like a coward who abandons his post in a battle.’

In the caption, he asked his over 400,000 followers: “What would you do if some (sic) threatened to send boys to the mother of your son and this is the third time he’s bullied her…

Tiwa Savage

Davido

you tried respectfully to reach out and the response is arrogance and nonchalance pls?”

He later shared a screenshot of a

message sent to Davido, threatening to deal with the singer if he messed with Savage.

He gave further details in the

James Sowole in Abeokuta

Ogun State Governor, Dapo Abiodun has pleaded with the federal government to approve the operation of the Remo Economic Zone as a Free Trade Zone.

The governor, who made the plea when he received the Minister of Industry, Trade and Investment, Dr.

Doris Nkiruka Uzoka-Anite and her team in his office at Oke-Mosan, Abeokuta, noted that the approval was needed to enable processing companies that have signed to process their raw materials in the zone commence operations.

He emphasised that the zone would record multiple processing companies willing to sign up to

begin work in the zone in the next one year if the approval was given, saying out of the six Special Agro Processing Zone, the State has the highest number.

Abiodun said: "We have impending application for the Remo Economic Zone in your office as a Special Economic Zone that enjoys the status of a Free Trade

Company signs 20-year gas infrastructure development agreement with host community

The Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo and the Special Adviser to the President on Energy, Mrs. Olu Verheijen, yesterday, flagged off the construction of a landmark 25 million standard cubic feet per day (25mmscuf/d) gas distribution infrastructure being built by Optimera Energy, at the Lagos Free Zone (LFZ).

The project which is scheduled for completion and inauguration by the last quarter of 2024, was intended to distribute natural gas to the companies operating within the zone and ultimately help to address the energy access challenge and high operating cost in the zone.

However, Optimera Energy had already signed a 20-year gas infra-

privacy and dignity of my person as guaranteed in Chapter 4 of the Constitution of the Federal Republic of Nigeria 1999 (as amended), and are also in contravention of Section 2424) of the Cybercrime (Prohibition, Prevention, Etc.) Act, 2015.

“I therefore would like to make this complaint and state that in the event that anything untoward or harmful were to happen to me or any member of my family, I would like the members of the Nigerian Police Force to hold Mr David Adeleke responsible.”

Davido's recent rift with Savage is just the latest episode in a series of controversies. Last year, he clashed with the former President of the Nigeria Football Federation (NFF), Amaju Pinnick over his failure to appear at an event in Warri, despite having agreed to perform and receiving payment.

Abiodun Seeks FG's Approval of FTZ for Remo Economic Zone

FG Inaugurates Optimera Energy's 25mmscuf/d Gas Distribution Infrastructure at Lagos Free Zone Peter Uzoho

caption, hinting that they had to plead with Sophia to allow Davido to see his child.

“After much pleading with Sophia to let you see your daughter, she agreed with lighter conditions........

"Tee Billz dey beg to talk to you" is the narrative from your ungrateful, Evil soul...

“I told you those idiots that you surround yourself with are your major problems! You haven't seen your daughter for 2 Christmas 1 birthday and no one in your camp could advise you that's hell of wrong… The Narrative of Sophia doesn't want you to see your daughter will be exposed with receipts! No more bullying the poor lady... #UNGRATEFUL” Savage in her petition, told the CP that she found the action of Davido unethical and “can be viewed as a direct threat to my rights to life,

structure development agreement with the Lagos Free Zone Company to scale up gas distribution within the zone from the initial 25mmscf/d to 40mmscuf/d and 100mmscuf/d in a phased development approach.

A Special Purpose Vehicle, Optimera Energy LFZE, is a consortium of three Nigerian upstream, midstream and downstream gas firms including Falcon Corporation Limited, First Hydrocarbon Nigeria (FHN) Gas Limited and ND Western Midstream Limited.

The three partners are affiliates of upstream companies with combined gas reserves of over four trillion cubic feet (tcf) currently producing over 350MMscf/d into the Nigerian domestic gas market.

Speaking during the groundbreaking ceremony, the Managing Director of Optimera Energy, Mrs. Audrey

Joe-Ezigbo, further explained that the gas distribution infrastructure comprised 25MMScf/D City Gate Station, scalable to 100MMScf/D. She said the facility would also have necessary ancillary infrastructure which includes 10km distribution lines within the zone as well as a 6.5km x 10 inches gas pipeline from the Escravos – Lagos Pipeline System tie-in point in the Lekki corridor, outside the zone, to Optimera City Gate Station at the Lagos Free zone.

Joe-Ezigbo revealed that Optimera Energy signed a 20-year Gas Infrastructure Development Agreement (GIDA) with the Lagos Free Zone Company (LFZC) to connect off-takers to their gas distribution infrastructure within the zone.

“The LFZC has invested over $2.5 billion in building a world-class

facility integrated with Lekki Deep Seaport in the Zone, and we are excited to be part of this infrastructural development in our nation, Nigeria, particularly as this project is fully aligned with the nation’s Decade of Gas aspirations,” she added.

According to her, Optimera Energy was established to address gaps in energy access while creating sustainable value for its stakeholders.

"We are committed to championing Nigeria’s energy transition to cleaner fuels by leveraging on the Nation’s abundant Natural Gas low-carbon resources.

"We are working to ensure that Nigeria’s Natural Gas resources are responsibly and efficiently utilized from the upstream and downstream sectors of the value chain.

Continues online

Zone, and the reason for that is very simple.

"The entire economic zone is being developed in partnership between the state government and the third party, and we have located the airport as one of the enablers of its own. Part of the requirements that we signed with our partner was that this economic zone will be Free Trade Zone.

"It allows all the processing companies all over the world who have already signed to process in that zone to process the raw materials that will be brought from all over the state and the zone. They can export them to other parts of the continent.

"We are aware that when you assumed office, you decided to review the numbers of Free Trade Zones that we have in the country and decide on which ones are truly required, needed, and deserving.

"The problem we have is that our partner in his determination to move that economic zone has begun to award contracts and because the model we have was that in the process of doing that, certain taxes that you would have to pay if it is not an economic zone and that is hindering the process which is why we are looking at ways solving the problem speedily."

The governor said his administration has created four economic zones in the last four and a half years, in addition to the existence of Agbara Industrial Zone.

"We realised that it is important to have these Economic Zones

around the State so that investors can conveniently choose their part of the State that suits them. We constructed the Epe-Ijebu-ode road, and this road will evacuate goods and people from Lagos to the East through our state.

"We created another economic zone around Kajola because this is where we have the rail line that comes from Ibadan. We will soon launch our Dry Seaport at that particular Economic Zone.

"We also have the one in Yewa through Ota axis. All these economic zones are to ensure that the cargo produce in Ogun State is conveniently processed, and this will generate job opportunities and enhanced value chains," he added.

While intimating the Minister of efforts to further attract investments to the state, the State helmsman informed that his administration would soon sign a Memorandum of Understanding with its partner to commence the construction of the Deep Seaport at Olokola to complete the circle of economic zones in the State.

The governor thanked the Minister for the visit, noting that it would cement further the relationship with the government at the centre.

Speaking earlier, Uzoka-Anite applauded the state government for its developmental strides, saying the springing up of industries in the state was a confirmation of the conducive business environment and the availability of necessary infrastructure that attracts investors.

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NEWS

Groundbreaking Ceremony of Optimera Natural Gas Facility...

L-R: The Chief Executive Officer, Lagos Free Zone, Mr. Dinesh Rathi; the Managing Director, Falcon Corporation, Prof. Joe Ezigbo; the Special Adviser to the President on Energy, Mrs. Olu Verheijen; the Minister of state for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo; the Managing Director, Optimera Energy, Mrs. Audrey Joe-Ezigbo and the Managing Director, First Hydrocarbon Nigeria (FHN), PHOTO: SUNDAY ADIGUN Mr. Femi Bajomo during the Groundbreaking Ceremony of Optimera Natural Gas Distribution Facility at the Lagos Free Zone held in Lagos…. yesterday

Plateau Guber: Mutfwang, Goshwe Know Fate as Supreme Court Reserves Judgment To give verdict on Oborevwori's election too

Alex Enumah in Abuja

The Supreme Court will soon give its verdict on the rightful person to occupy the Plateau governorship seat between the incumbent, Caleb Mutfwang of the Peoples Democratic Party (PDP) and Nentawe Goshwe of the All Progressives Congress (APC), it was learnt yesterday.

A five-member panel of the apex court led by Justice John Okoro, after taking arguments from lawyers representing parties in the case stated that judgment in the Plateau State governorship tussle was reserved to a date that would be communicated to all parties.

By the provisions of the Electoral Act, the apex court has 60 days

to hear and decide an appeal in a governorship matter and the said 60 days would expire next week, Tuesday January 16, 2024.

INEC had declared PDP's Mutfwang, winner of the March 18 governorship election in Plateau State, having scored a total of 525,299 votes as against 481,370 votes polled

by Goshwe.

While the Plateau State Governorship Election Petition Tribunal had dismissed Goshwe's petition against Mutfwang's election, the Court of Appeal in its own judgment, held that the petition was meritorious and subsequently sacked Mutfwang as governor, on the grounds that he was not validly sponsored by his party, the PDP, hence was not

qualified to have contested the election.

Miffed by the decision, Mutfwang and the PDP lodged an appeal at the apex court, praying it to reverse the judgment of the appellate court and uphold that of the tribunal, for being in tune with the law.

When the matter came up for hearing on Tuesday, Chief Kanu Agabi (SAN) counsel to the governor, urged the apex court to allow the appeal and set aside the judgment of the appellate court for not being on the side of the law and justice.

He stated that the petitioners case was centred more on the issue of nomination and sponsorship, which according to him, are outside the purview of the court, adding that

the tribunal was right when it held that it has no jurisdiction over the issue.

While faulting the appellate court for holding that the governor was unlawfully sponsored by his party and as such was not qualified to contest the poll, the senior lawyer argued that it was wrong for the appellate court to have made a case for the petitioners when the did not do so.

Besides, Agabi, who noted that four fundamental issues raised in the appeal were not responded to

by Goshwe and the APC, and as such should be deemed as conceded, maintained that contrary to the claims of the petitioners and the judgment of the appellate court,

Kwara CJ Calls for Urgent Repositioning of Nation's Judiciary Says 13,720 cases out of 26,533 decided in legal year

Hammed Shittu in Ilorin The Chief Judge of Kwara state, Justice Abiodun Adebara, yesterday called for urgent repositioning of the nation's judiciary in order to serve as a trusted and impartial pillar of democracy.

Adebara made the call in Ilorin during a special session to commence the 2023/2024 legal year in the state.

He said: "The justice system has

been plagued by a backlog of cases, delays, corruption, and lack of access to justice for many citizens, especially the poor and marginalized.

"We must first acknowledge and address the challenges that have hampered its effectiveness in the past. I believe that we are at a critical juncture in our country's history where the judiciary must reposition itself as a trusted and impartial pillar of our democracy.

"The judiciary is the final arbiter

Nigeria Excited as Niger Releases Bazoum’s Wife, Son from House Arrest Michael Olugbode in Abuja

Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, yesterday commended the release of former Nigerien President Mohammad Bazoum’s wife and son from house arrest.

The Nigerien president and members of his family were committed to house by the National Council for the Safeguard of the Homeland, the ruling military junta in Niger after he was overthrown sometimes last year.

After months of being held in house arrest, the wife and the son were released, according to a statement by the minister of foreign

affairs on Tuesday.

Tuggar, who is also the Chairperson of the Mediation and Security Council of ECOWAS, said: “It is a logical step in bringing normalcy back to the country and the region in general.”

He reiterated the call to the government led by General Abdourahamane Tchiani to hasten the release of Bazoum from its custody and allow him to fly to a third country as a step towards further talks on lifting sanctions.

Nigeria also called in Niger to initiate the transition to constitutional rule in the interest of the people, peace and stability of Niger and the region.

of justice in our society, and it is our responsibility to ensure that every person is treated fairly and equitably under the law," Adebara stated.

The CJ, who said that the challenges would be tackled head-on, added that judicial officers would work together to find innovative solutions to ensure that justice is delivered promptly and efficiently to all.

"As chief judge, I pledge to work tirelessly to address these challenges and to restore the faith of the people in our judiciary.

"To achieve this goal, we shall embrace technology and modernize our processes to make them more efficient and transparent. We will also invest in training and capacity building for our judges, and support staff to enhance their skills and competencies.

"Furthermore, we will improve access to justice for all citizens, regardless of their social or economic status. We shall work to simplify legal procedures and make the justice system more user-friendly for those who cannot afford legal representation," he said.

The CJ, who said that repositioning of judiciary was a task that requires concerted efforts of all stakeholders, called upon all members of the legal community, civil society, and the government to work together towards the common goal.

"Let us commit ourselves to building a judiciary that is trusted, efficient and just. Together, we can

achieve this and build a better society for all,"he said.

Adebara also put the grand total of the cases registered in all tiers of Court in the state in the 2022/2023 legal year just ended at 26,533, out of which 13,720 were decided, leaving 12,813 pending cases at the beginning of the current legal year.

He said that the total revenue generated from both criminal and civil cases in all the courts as well as the Probate fees in Kwara state in the last legal year as fines and court fees amounted to N83,674,936.86.

"In taking stock of our performance in the last legal year, let me start with the Area Courts. A total number of 7,580 Criminal cases were registered out of which 4,825 cases were decided leaving a total of 35 cases pending.

"A total sum of N5,836,000.00 was realised as fees. Still on the Area Courts, a total of 6,762 civil cases were registered out of which 3,448 cases were determined, leaving balance of 3,314 cases pending. A total sum of N9,570,000.00 was collected as fees.

"Next to consider are the Magistrate Courts where a total of 6,556 criminal cases were registered out of which 2,532 cases were disposed of, leaving 4,024 pending cases.

"A total sum of N7,640,000.00 was realised as fines. Still on the Magistrate Courts, a total number of 4,619 civil cases were registered out of which 2,220 cases were decided leaving 2,399 cases pending. A sum of N20,530,000.00 was collected as fees.

Mutfwang was properly and validly sponsored by his party.

According to him, the PDP as evidence showed indeed complied with the order of a Federal High Court, which had ordered a fresh election for the executive of the state chapter of the PDP. In addition, Agabi noted that when it comes to the issue of nomination and sponsorship of a candidate in a governorship election, it is the responsibility of the national executive and not that of the state.

Responding, Goshwe's lawyer, Prof. Joseph Olatoke (SAN) urged the apex court to dismiss the appeal on the grounds that the appellate court was right in holding that the failure of the appellant to be validly sponsored by his party was fatal to his election.

According to the senior lawyer, their was no structure of the PDP in Plateau State as of the time Mutfwang was nominated to fly the flag of the PDP in the March 18, 2023 governorship election.

However, when asked by the panel whether a tribunal has powers to look into the issue of nomination and sponsorship of a candidate, Olatoke submitted that the court order which the appellate court relied on in sacking the governor was from a case filed by some PDP members and not the APC. Also, when asked whether an order made without jurisdiction is valid, the senior lawyer pointed out that the said order was affirmed by the appellate court, while an

appeal against it was dismissed by the apex court.

Also arguing, counsel to the APC, Mr Omosanya Popoola, while claiming that respondents contrary to the claims of Agabi, reacted to all issues raised by the appellants, aligned himself with the submissions of Olatoke, added that depending on the nature of the alleged non-qualification a tribunal can look into the issue of sponsorship of a candidate by his party.

Meanwhile, the electoral umpire through its counsel, Mr S. Atung (SAN), applied for the withdrawal of its appeal challenging the judgment of the appellate court, just as parties agreed that the appeal by the PDP shall abide by the outcome of Mutfwang's appeal.

After listening to all parties, Justice John Okoro announced that judgment was reserved and that the date would soon be communicated to parties.

Recall that a three-member panel of the Court of Appeal led by Justice Elfrieda Williams-Dawodu in the lead judgment declared as wasted all votes cast for the PDP in the election.

After nullifying the victory of PDP and Mutfwang, the appellate court then ordered the Independent National Electoral Commission (INEC) to withdraw the Certificate of Return earlier issued the governor and issue a fresh one to Goshwe and the APC. Continues online

Dangote Reclaims Top Position on Forbes as Africa’s Richest Person

Nigerian businessman and philanthropist, Aliko Dangote, has reclaimed his position as the richest person in Africa, according to Forbes Real-Time Billionaires.

Last week, South African business tycoon, Johann Ruper, took over the position from Dangote as African richest.

According to the ranking as of January 8, Dangote’s net worth improved by $10 million to $10.1 billion while Rupert’s net worth as of January 8 was $10 billion, down from $10.7 billion as of January 30, 2023.

Dangote, who is the head of

Dangote Group, is ranked 191st on the Forbes list of rich people, while Rupert is ranked 197th worldwide.

The Nigerian businessman became Nigeria’s first billionaire in 2007.

He reportedly added $9.2 billion to his personal wealth in 2013, according to the Bloomberg Billionaires Index, making him the 30th-richest person in the world at the time and the richest person in Africa.

As of June 2022, he was the wealthiest person in Africa, with an estimated net worth of US$20 billion.

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T H I S D AY • WEDNESDAY, JANUARY 10, 2024

NEWS

27th World Investment Conference in New Delhi...

L-R: World Bank Global Director on Trade, Investment and Competitiveness, Mona E. Haddad; Managing Director, Edo State Investment Promotion Office, Kelvin Uwaibi, and Managing Director, Directorate of Sustainable Development Goals (SDGs), Innovation and Economic Transformation, United Nations Industrial Development Organisation (UNIDO), at the 27th World Investment Conference, in New Delhi, India.... recently

Utomi: Discussing Presidential Candidacy for 2027 Inappropriate Says Nigeria not a functional democracy Chuks Okocha in Abuja Convener of the National Consultative Front (NCFront), Professor Pat Utomi, said any discussion on the emergence of a presidential candidate by any political party at the moment was politically inappropriate.

Utomi spoke yesterday on the ARISE NEWS Morning Show programme.

He said the presidential candidate for the coalition of opposition parties that was being proposed would emerge at the appropriate time, insisting it is not a point of focus for now.

Edo Shines at 27th World Investment Conference in New Delhi The Edo State Government showcased investment opportunities and the impactful reforms undertaken to open up the State for businesses at the 27th World Investment Conference (WIC) in New Delhi, India.

The conference was themed: “Empowering Investors: IPAs Pioneering Future Growth,” providing a pivotal platform for global investment discussions.

The Managing Director, Edo State Investment Promotion Office (ESIPO), Kelvin Uwaibi said the State’s participation at the conference was strategically aimed at addressing economic and social challenges impacting investment inflows, specifically in emerging economies like Nigeria.

According to him: “Throughout the event, we engaged in diverse activities, including intensive technical sessions, and strategic networking sessions focused on bolstering investment prospects in Edo State.”

He said the technical sessions were instrumental, offering insights from global development leaders and discussions on bridging FDI gaps, leveraging technology for investments, and promoting climate-conscious initiatives.

He added: “We had meetings with various businesses and start-ups, fostering potential collaborations and exploring investment opportunities in Edo State. Crucial discussions with Invest India, Business France, and the General Authority for Investment and Free Zone paved the way for potential collaborations and investment facilitation, ensuring a robust investment landscape.

“Participation in WAIPA's StartUp Capital Connects showcased the potential of startups in Edo State, highlighting the region's attractiveness in available energy, internet connectivity and enabling business environment to prospective investors.”

He expressed heartfelt gratitude to the EU-UNDP partnership for their unwavering support, noting that Edo State is committed to

welcoming EU investors.

“Edo State has made gains in establishing an ecosystem conducive for investors and digital nomads, fostering an environment for living, working, and flourishing,” Uwaibi said.

He explained that the current political crisis in Nigeria was because the country had no working democracy or a political party in the real sense of an ideology-based political party.

Utomi said Nigeria’s current economic challenges were due to the fact that the Nigerian state was constructed by politicians not to serve the best interest of the people, but to encourage corruption.

He also discussed the work of NCFront with Peoples Democratic Party (PDP), Labour Party (LP), and New Nigeria Peoples Party (NNPP).

He said the political parties were focused on creating a merger that would build a strong political party in Nigeria.

Speaking on the stunted economic growth and challenges faced in the country, Utomi said while he was interviewing civil servants for his book, a respondent said civil servants did not work because the political

party that came into power did not have an agenda for the government organisation in place to boost growth and development.

According to the renowned political economist, “The truth of the matter, the naked truth, is that what is happening in Nigeria is inevitable because the Nigerian state is not constructed to serve the Nigerian people.

“It is constructed to be bargaining between politicians looking to share booty, because that is what it is; you will have all this corruption.”

He explained that the reason behind Nigeria’s lack of growth, and why several multinationals were leaving the country was corruption that had been displayed by Nigerian politicians and those in government.

Utomi said, “Nigeria is not a working democracy, and part of the effort of building a strong and viable political party is to make our democracy work, first and foremost,

before other people begin to think about another election.

“The problem with Nigeria is that we’ve fought in terms of elections. We go through a mess that is called an election, we say okay, let’s wait for the next one. No, that’s not how countries grow and develop. Countries grow and develop, first of all, by founding political parties.

“I can say without any feeling of wrong that we don’t have a political party in Nigeria today. What we have managed to couple together since 1999 have been platforms for machine politics where the game is about just grabbing power, rightly or wrongly, and sharing spoils.”

The foremost political economist added that by engaging in the cycle of violent elections without properly building political parties, what Nigeria had done was to neglect the development of the country, as well as neglect Nigerians, who always bore the brunt

of the challenges between politicians.

Utomi said, “The Nigerian people have become so frustrated, so fed up with the way Nigerian politicians carried on that when Peter Obi said the right things, it resonated and drove the emergence of a movement that generally got called the Obidient movement around the world, Nigerian diaspora. And if you look at the resurgence of many of the success stories of the 20th century, they had a diaspora base.

“So, the Nigerian diaspora rallied very strongly around the fact that this gentleman was saying a few things right, and a campaign like Nigeria hasn’t seen in a long time happened, and it was deliberately sabotaged, whatever you say about it.

“The point remains, how do you go forward when you meet this? You’ve got to realise and take advantage in trying to save Nigeria that the majority of this country is young.”

Nobody's Above Law in Nigeria, Say EFCC, ICPC as Interrogators Grill Edu president on the recently launched online passport portal.

According to a release by Alao, "Contrary to news flying on the social media space, Nigerian Minister of Interior, Olubunmi Tunji-Ojo, visited the seat of power, Aso Rock, on Tuesday, to brief President Bola Tinubu on the outcome of recently launched online passport portal.

"The minister's visit to Aso Rock was to keep an earlier scheduled meeting with the president.”

He added that the minister was not summoned.

According to Alao, "The minister only visited Aso Rock to keep an earlier scheduled meeting with President Tinubu. The sensational social media headline that says the minister was summoned to Aso Rock was quite misleading and should be discountenanced by Nigerians."

Three other ministers were also at State House yesterday, but they could not see the president because of his busy schedule. The minister were Hanatu Musawa (Arts and Creative Economy), Shuaibu Audu (Steel Development), and Adebayo Adelabu (Power).

PDP Demands Tunji-Ojo’s Suspension, Investigation

PDP, yesterday, demanded the immediate suspension, investigation, and possible prosecution of Minister of Interior, Olubunmi Tunji-Ojo, over his reported involvement in the alleged siphoning of N438 million poverty alleviation fund under Edu. The party also described as inexcusable the fact that the two ministers directly entrusted with the wellbeing of Nigerians reportedly

used a company in which Tunji-Ojo had huge interest to allegedly siphon funds meant for poor Nigerians under the guise of consultancy fee for unsubstantiated verification of households in the country.

A statement by National Publicity Secretary of PDP, Debo Ologunagba, said, "The PDP demands that President Bola Ahmed Tinubu take immediate action to protect the resources meant for the wellbeing of poor Nigerians from further plundering by suspending the interior minister over the alleged fraud and hand him over to the Economic and Financial Crimes Commission (EFCC) for investigation like his suspended counterparts."

Ologunagba said Nigerians were appalled by the lame excuse of Tunji-Ojo in claiming that he had no interest in the company, despite his confession of owning huge shares in the firm; a channel through which he allegedly benefitted immensely from the said fraudulent consultancy fee payment.

The statement said, "Such apparent money laundering stunt is again consistent with the crafty character and proclivity of the APC for plundering of public resources.

“This is especially given allegations in the public space that the bulk of the money was diverted to private accounts of cronies of prominent APC leaders in the National Assembly and the Presidency."

PDP challenged the interior minister to publish the details of the due process certification documents, the scope of job, the experts and modules used as well as particulars of the 11 million

Nigerian households claimed to have been verified within a space of one month.

Afenifere Seeks Open, Fair Investigation

Afenifere, a pan-Yoruba sociopolitical group, urged Tinubu to intensify the fight against corruption in the country, calling on him to ensure transparent probe of the alleged sleaze in the humanitarian affairs ministry.

In a statement by its National Organising Secretary, Kole Omololu, Afenifere stated that as a group deeply committed to the progress and wellbeing of the country, it was ready to provide support in the battle against corruption.

Afenifere stressed that it strongly believed that eradicating corruption was essential for creating an environment that would promote sustainable development, equal opportunities, and social justice for all Nigerians.

Omololu said, “Given recent revelations regarding alleged corruption within the Ministry of Humanitarian Affairs and Poverty Alleviation, we urge the president to initiate a thorough investigation into these allegations.

“It is crucial to meticulously examine every aspect of the ministry's financial transactions to ensure transparency and accountability.

“Additionally, we call for a comprehensive investigation into the financial transactions associated with The Federal Ministry of Humanitarian Affairs and Poverty Alleviation, as well as a forensic audit of the ministry and

the companies involved in the excessively inflated consultancy's verification fees.”

Afenifere raised concerns about the expenditure of almost N4 billion on verifying beneficiaries and questioned how much money would be left to disburse to the verified beneficiaries from the limited resources of the country.

The organisation insisted it believed that no one should be exempted from the investigation, as the government under Tinubu’s leadership must set an example and demonstrate unwavering commitment to the principles of good governance.

The group emphasised the importance of conducting the investigation without any interference or bias, ensuring a fair and just process, noting that the Nigerian people have entrusted Tinubu with their confidence.

Atiku's Aide: Edu’s Suspension Not Enough

Special Assistant to former Vice President Atiku Abubakar on Public Communication, Phrank Shaibu, said the suspension of the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, was commendable, but not enough.

Shaibu, in a statement, said it was unfortunate that a programme designed to lift over 100 million Nigerians out of extreme poverty had become a cash cow for successive APC governments.

He stated, “While Tinubu deserves commendation for suspending Edu, we believe this is a belated move. Firstly, he had no business appointing her as a

minister of such a sensitive ministry, in the first place.

“Tinubu put politics ahead of competence, hence, this scandal.

What experience did Betta have in the development sector? How was Imaan Ibrahim, with her wealth of experience, overlooked?

“How did the Chief of Staff to the President, Femi Gbajabiamila, stand as Betta Edu’s referee during her clearance at the Senate?”

Shaibu also drew the attention of the public to other leaks, which showed that the ministry under Edu’s, gave a company owned by the Minister of Interior, Olubunmi Tunji-Ojo, a total amount of N438.1 million for consultancy services.

He said, “To be fair, it is not only Betta Edu that was involved in this shady transactions. More documents show that the Minister of Interior’s company also benefitted. Reports suggest that others in the Tinubu government got cash from this same ministry under the dubious Renewed Hope Initiative.

“Betta Edu should not be the fall guy. Others who have remotely and wickedly benefitted from money that was meant for poor Nigerians ought to be fished out, probed, and prosecuted, too. It is demonic and tendentiously wicked to steal in the name of the poor.

“Further leaks showed that millions were released by Betta Edu to fund a flight to a non-existent Kogi airport. They must have used witchcraft airways.”

Shaibu said there was need for the government to reform the humanitarian affairs ministry and other interventionist programmes that had become an ATM and POS for those in power.

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politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY)

Ezeife: End of a Fearless Igbo Voice

David-Chyddy Eleke writes that former Anambra State governor and elder statesman, Dr Chukwuemeka Ezeife, was fearless in speaking against anything that was against the Igbo.

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enultimate Thursday, the news of the death of a former gorvernor of Anambra State spread like wild fire. It came in the form of a press statement from a member of his family, Chief Rob Ezeife. The release read: “On behalf of the Ezeife Dynasty of IgboUkwu, I wish to announce the promotion to glory of our most distinguished son, Okwadike, Dr. Chukwuemeka Ezeife, CON, a former Federal Permanent Secretary, the first Executive Governor of Anambra State, a former Political Adviser to the President and former Presidential Aspirant. This sad event took place yesterday at 6pm at the Federal Medical Centre, Abuja. More details about the deceased and the arrangements for his State Burial will be announced later.”

Ezeife, a lover and advocate of everything Igbo has proven himself to be one man who can stick his neck for an Igbo cause. On several occasions too, the traditional Igbo chief, who is popularly known as Okwadike had stood for Igbo and also spoken against injustices to his people.

Born at Igbo-Ukwu, Anambra State on 20 November 1939, Ezeife did not attend secondary school, but taught himself through correspondence courses, qualifying for university admission. He earned a BSc in Economics from the University College Ibadan, then attended Harvard University on a Rockefeller Foundation scholarship where he obtained a masters and then PhD degree in 1972. He became a School Headmaster, a lecturer at Makarare University College, Kampala, Uganda, a Teaching Fellow at Harvard University, and a Consultant with Arthur D. Little in Cambridge, Massachusetts.

Ezeife Ezeife joined the civil service as an Administrative Officer and rose to the position of Permanent Secretary.

Ezeife later joined politics and was elected governor of Anambra State on the platform of Social Democratic Party (SDP), holding office from 2 January 1992 to 17 November 1993, when General Sani Abacha took power after a military coup. As governor, he was said to be more interested in planning than in addressing immediate developmental needs, and achieved few tangible results.

He transferred Nnamdi Azikiwe University and Federal Polytechnic, Oko to the federal government, which helped ensure that they survived in the ensuing military regime.

During the Fourth Republic, Ezeife, who described himself as a social democrat, was appointed presidential Adviser on Political Matters to President Olusegun Obasanjo.

Ezeife was, among many other Igbo prominent sons, who had at one time or another visited Nigerian presidents, to advocate for one thing or the other for the Igbo people.

His last was the visit to former President Muhammad Buhari in 2022, alongside other Igbo sons, to solicit the release of the leader of the Indigenous People of Biafra (IPOB), Mr Nnamdi Kanu.

In October 2022, Ezeife who had continuously called for the release of Kanu expressed public anger and frustration over Buhari’s refusal to release Kanu. Speaking in a television interview, Ezeife had said he was ready to kneel down and beg Buhari if that would make him accede to his request to release Kanu.

Coincidentally, Ezeife died just a day before the Supreme Court judgement on the freedom of Kanu. Though Ezeife has already passed on, but it is believed that the judgement which denied Kanu freedom would have saddened the elder statesman, even in death.

Since after the news of his death, there have been a huge outpour of condolences, with many describing him with beautiful adjectives. Anambra State governor, Prof Chukwuma Soludo, in a statement by his Press Secretary, Mr Christian Aburime, described Ezeife as a man of many hats and a titan.

Soludo said his departure would leave a void that would be difficult to fill.

The statement read in part, “A most illustrious son of the Ezeife Dynasty of Igbo-Ukwu

area of Anambra State, Dr. Ezeife, a man of many hats, was a titan in the annals of our state and nation. He was fondly called ‘Okwadike’. His departure leaves a void that will be difficult to fill. However, we find solace in the knowledge that his legacy of service, integrity, and unwavering commitment to the common good will continue to inspire us all.”

On his part, the Senator representing Anambra Central Senatorial District, Chief Victor Umeh, described his demise as a huge loss to Nigeria and Ndigbo in particular.

He said: “Dr. Ezeife’s death is another huge loss to Nigeria and Ndigbo in particular. Dr. Ezeife who is more known as Okwadike Igboukwu was a man who grew from grass to grace through uncommon hard work and perseverance. From very difficult beginning, he fought with resilience to acquire education to the top level of bagging a doctorate degree in the renowned Harvard University in America, despite not having a formal Secondary School Education.

“He was a frontline advocate of equality of civil rights for all Nigerians. Dr. Ezeife was an inspirator and motivator. He was very brave and never shielded away from speaking his mind and the truth, no matter whose ox is gored! I mourn his exit, particularly as I am certain that he did not see a Nigeria of his dream before his departure, just like the rest of his compatriots who transited before him. We shall miss his Indefatigable spirit and huge sense of humour.

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

Adieu, Ghali Na’Abba, The Lion

Rimamnde Kwewum pays tribute to former Speaker of the House of Representatives, Hon Ghali Umar Na’Abba, who died last Wednesday at the age of 65.

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he news of the demise of Hon Ghali Umar Na’Abba early last Wednesday was devastating. He, his family members and close friends had hoped and prayed hard for healing.

No matter how death comes, I have always thought, however expected, no matter the circumstances, it leaves behind pains.

Na’Abba was born on September 27, 1958, in Tudun Wada quarters, Municipal Local Government Area, Kano State. He was born into a family steeped in politics, power and business.

He started his education at the Jakara Primary School, Kano after which he proceeded to Rumfa College, Kano and graduated in 1974.

He studied for his Advanced Levels at the College of Arts and Science (CASS), Kano, from where he proceeded to the Ahmadu Bello University (ABU), Zaria to study political science.

Na’Abba was exposed to radical political views early as a child through his father who was an active member of the Northern Elements Progressives Union (NEPU).

He lived in the same area as Mallam Aminu Kano, the unflappable leader of the radical NEPU who surrounded himself with books that the young Na’Abba used to take home to read. That was how he got exposed to radical political literature.

Na’Abba graduated from the Ahmadu Bello University in 1979 when Nigeria’s Second Republic was ushered in. His exposure to politics started in 1978 when political parties were being formed preparatory to military handover to civilian rule in 1979.

Na’Abba joined the Peoples Redemption Party (PRP) while still in his final year in the university.

The late Alhaji Bashir Tofa, his mother’s brother, was a member of the National Party of Nigeria (NPN). His uncle’s pull was too strong and the young Ghali left the PRP and joined the NPN, though more as a supporter.

His sojourn in partisan politics started in 1993, when he joined the National Republican Convention (NRC) to assist his uncle, Tofa, who was the

Na’Abba party’s presidential candidate during the General Ibrahim Babangida transition programme, and worked mainly in his constituency - Kano Municipal Area.

The NRC defeated the Social Democratic Party (SDP) in his constituency during the presidential election but lost in the state which voted for SDP’s Moshood Abiola.

He made many friends and this helped him a lot when he decided to contest for the House of Representatives in 1999.

Some members of the People’s Democratic Party (PDP) had approached him to contest for the House of Representatives to represent Kano Municipal federal constituency.

He was later elected Speaker of the House a few months after the House was inaugurated and following the resignation of Hon Buhari Salisu, who was accused for lying about his date of birth and for certificate forgery.

Na’Abba was unanimously elected as Buhari’s successor, even though most members of the House did not even know

him as the House was just settling down.

“I did not campaign to be speaker; I did not tell anybody that I wanted to be speaker. It was my colleagues who decided that I should lead them and that was what happened. Eventually, I was the only person to be nominated for the position,” he said in an interview with an online news platform before his death.

I was introduced to him early in 2000 by Hon. Adams Chigwa Jagaba Adams. The meeting took place in the official residence of the Speaker. After a few minutes’ interaction, he asked me to join him as his legislative aide. Reluctantly, I had to abandon my position in Jos, where Governor Joshua Dariye had appointed me a member of the Interim Management Committee of the Plateau State Publishing Company (PPC).

I was living my dream of reviving The Nigeria Standard newspapers with the clearly spelt out objective of returning the newspaper to its lost glory.

Jonathan Ishaku, the Chairman of the committee had committed to me the task of running both the editorial and circulation departments. My surrogate uncle, late Dr. Bala Takaya, was visibly upset that I had to leave such an assignment in Jos for Abuja.

I came under the tremendous pressure of Hon. Jagaba to move to Abuja to become a legislative aide. If I remember correctly, Jagaba insisted on driving me to Abuja himself for me to resumed immediately.

As a matter of fact, Na’Abba was surprised that I had not resumed earlier.

We had no offices and usually crowded into the tiny office of the Chief of Staff, Haruna Ginsau, now a retired ambassador. I became the secretary of the meetings of the principal staff of the speaker.

It was there that I came face to face with office politics and discovered how naïve and unschooled I was. One of the things I learnt working in the office of the Speaker was that you could fly as high as your imagination and proactiveness could take you.

The principal officers in the Speaker’s office,

came from nearly all parts of the country.

Sebastian Agbinda, his classmate from Zaria was Special Adviser, Special Duties; Chief Odiri, from Edo state, was Special Adviser on Economic Affairs; Hon Ezuiche Ubani from Abia, was in charge of Media; Dr Wachi Anwar, from Kano, Special Adviser, Political Affairs; Ambassador Victor Udoyen, from Akwa Ibom, was Special Adviser on Foreign Affairs and myself from Taraba State, Legislative Affairs.

As his legislative liaison, I was expected to review committee reports, among other responsibilities.

Of course, at its infancy, the committee reports had no format or standard. In one case, after more than a week tour, a committee turned into a two-page report detailing the names of members who travelled places and the dates of the trip.

Many more got back to give verbal briefings.

One sore point at that time was the role of the legislative aides. Apart from the presiding officers’ aides who were in the pay roll of the National Assembly, legislative aides of the other members had their salaries paid into the accounts of their bosses at whose pleasure they served.

I recall that once Haruna Ginsau, the Chief of Staff, was asked to rise with the Clerk of the House to provide the functions of the legislative aides. A list of don’ts, numbering up to 19 or so was brought back with only one yes for Legislative Aides.

For the bureaucracy, legislative aides were an unnecessary package, who had no place in the scheme of things.

After the inauguration of the NationalAssembly Service Commission, Na’Abba and the Senate President, Pius Ayim, initiated the process of integrating legislative aides into the National Assembly.

-Kwewum, writes from Kaduna NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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FEatures

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

Gbajabiamila and His Quest to Foster Infrastructure, Health Development

As part of measures to foster infrastructure and health development in the society, Honourable Femi Gbajabiamila, the chief of staff to the president, recently inaugurated the legacy projects he facilitated in Surulere Federal Constituency during his tenure as Speaker of the House of Representatives, Precious Ugwuzor writes

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nspired by a sense of duty and part of measures to foster infrastructure and health development in the society, Honourable Femi Gbajabiamila (CFR), the chief of staff to the president, recently inaugurated the legacy projects he facilitated in Surulere Federal Constituency during his tenure as Speaker of the House of Representatives.

Urging those who seek public office to remember that the ultimate and highest legacy they can leave as public servants is an evident improvement in the lives of the people that they serve, the chief of staff was joined by Lagos State Governor, Babajide Sanwo-olu to inaugurate series of the legacy projects.

According to Gbajabiamila, the projects across Surulere Federal constituencies and the state were inspired by a sense of duty, adding that while lawmakers perform an im­portant role as law and policymak­ers, there is also an important func­tion of ensuring that the resources of government go towards meeting the most pressing needs of the local constituencies they represent.

He noted: “The projects we are commissioning today and tomor­row speak to my efforts to meet the expectations of our people in this regard."

Legacy Projects The legacy projects that were recently inaugurated cut across infrastructure, education and health. They include the Femi Gbajabiamila Conference Center LASU, OJO, Lagos; dualised Babs Animashaun Road and Census Bridge, Surulere, Lagos; Sam Shonibara Community Development Center, Surulere, Lagos; Femi Gbajabiamila General Hospital, Iyun Road, Off Funsho Williams Ave. Surulere, Lagos; Femi Gbajabiamila Hall of Residence, University of Lagos, Akoka; and National Open University of Nigeria (NOUN) Surulere Campus.

Others include Bode Thomas Police Station, Head Quarters Census Area, Surulere, Lagos; reconstruction of “Randle Avenue, Road,” Surulere, Lagos; and Femi Gbajabiamila Mini Stadium, Orile, Coker Aguda LCDA, Surulere, Lagos.

Need for Robust Health Services Highlighting the need for robust health services, the chief of staff emphasised the crucial link between health and productivity, just as he stressed the responsibility of public servants to ensure citizens' access to quality healthcare in conducive environments.

At the unveiling of the Femi Gbajabiamila General Hospital, the hospital's impressive features were unveiled—a facility seated on 5000 square meters with 80 beds, sophisticated laboratory services including a CT SCAN, 32 slice theaters, dialysis rooms, and pediatric wards.

The hospital, designed with a focus on sustainability, boasts power supply from a 300KvA Generator backed up by a 100KvA Solar Generator on the rooftop. Additionally, it features a water filtration system, exemplifying international standards in healthcare services.

The Lagos State Commissioner for Health, Prof. Akin Abayomi, who expressed profound gratitude for the successful completion of these projects, assured proper maintenance of the facilities and recruitment of staff to initiate operations, promising a fully

that the project is his commitment in nurturing a generation fostering intellectual curiosity and problem-solving skills.

Commending the initiative, Minister of state for Education, Dr. Yusuf Tanko Sununu, Senator Wasiu Sanni-Eshinlokun, and Lagos West Senatorial District representative showered accolades on Rt Hon Femi Gbajabiamila, praising his wisdom and contribution to national development.

Professor Oluwatoyin Ogundipe FAS, the immediate past Vice-Chancellor of UNILAG, traced the project's genesis to 2019, acknowledging Hon. Gbajabiamila's unwavering support and magnanimity towards UNILAG. He recounted the intervention and subsequent execution of the hostel project, affirming the Speaker's personal involvement in overseeing its progress.

The Vice-Chancellor of UNILAG, Professor Folasade Ogunsola, OON, FAS, expressed gratitude to Rt. Hon. Femi Gbajabiamila for addressing the accommodation challenge at the university and creating a diverse, socioculturally harmonised environment for students.

The formal inauguration concluded with the Speaker officially opening the Femi Gbajabiamila Hall of Residence, flanked by dignitaries, marking a significant milestone in the university’s pursuit of educational excellence.

Gbajabiamila

functional 80-bed hospital to serve the community.

The commissioned projects mark a significant stride towards enhancing health infrastructure and overall development in Lagos, reflecting the commitment to fostering a healthier and more prosperous future for its residents.

Transition to Knowledgebased Economy Accentuating the paramount need of steering Nigeria towards a knowledge-based economy, Right Honourable Tajudeen Abbas, Ph.D., speaker of the House of Representatives, officially inaugurated the Femi Gbajabiamila Hall of Residence at the University of Lagos.

At the University of Lagos Main Campus, Akoka, Yaba, where the 484-bed Landmark Students Hostel stands, Rt. Hon. Abbas emphasised Nigeria's transformation into a knowledge-based economy, just as he lauded the increased budget allocation for the education sector and the upcoming

N50 billion students’ loan scheme, crediting these accomplishments to the efforts of Right Honourable Femi Gbajabiamila, the donor behind the students’ hostel. The speaker said the hostel is a symbol of commitment to eliminating barriers to education.

Praising the intellect and unwavering dedication of the chief of staff, Abass said the residence is a milestone in educational empowerment and physical development, citing UNILAG's distinguished status among higher education institutions.

Addressing the critical role of a knowledge-based economy in national development, Hon. Abbas denounced Nigeria’s over-reliance on oil and gas, advocating policies fostering renewable energy, agriculture, solid minerals, and intellectual capacities.

He pledged the House of Representatives' support for innovation, intellectual property protection, AI regulation, digital literacy promotion, and business-friendly policies, emphasising a culture of research and development.

In his remarks, Rt Hon. Femi Gbajabiamila said the hall of residence is an addition to the joint efforts of sustaining UNILAG's vision, adding

While lawmakers perform an im­p ortant role as law and policymak­e rs, there is also an important func­ tion of ensuring that the resources of government go towards meeting the most pressing needs of the local constituencies they represent

Boost for LASU At the inauguration of the Femi Gba­ j abiamila Conference Centre at La­g os State University (LASU), Ojo, the chief of staff, who ded­icated the project to the glory of God and the people of Lagos State, thanked the state Governor, Baba­jide Sanwo-Olu, for his support and collaboration over the years.

He said without the part­nership of the state government it would have been much more difficult and impossible to achieve the mission for the project being developed.

He said: "To remember that the ability to get things done in government requires experience and pedigree, takes time and demands that they manage expectations accordingly. I have long realised the importance of education. I have always believed that an uneducated generation is a wasted generation. I want to see this as an invest­m ent in the youth. No amount of money will be too much for the education of our youth.

"The Conference Centre creates an enabling environment for study. The building is the enabling envi­ronment that it creates for our stu­dents and that makes it what it is. This project speaks to my efforts to meet the expectations of my people in this regard.”

The Lagos State Governor, Babajide Sanwo-Olu, also promised to invest more in educa­tion to ensure the youth have qual­ity education for a brighter future, adding that the initiative is a testimony to what well-meaning individuals could do to support public institutions and contribute to the public good, adding that the government would continue to initiate policies that would attract investors in tertiary education in the state.

Commending Gbajabiamila for the donation, Vice Chancellor of LASU, Professor Ibiyemi Tun­ji-Bello, solicited the support of other well-meaning individuals to make the institution the best in Nigeria and Africa.

T H I S D AY WEDNESDAY JANUARY 10, 2024 20 TR

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& RE A S O

Wednesay January 10, 2024 Vol 27. No 10498

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opinion@thisdaylive.com

www.thisdaylive.com

THE CHRISTMAS EVE CARNAGE ON THE PLATEAU

KALU OKORONKWO argues that the incessant violence is due to failure of governance

See page 21

BRANDING AS PANACEA FOR CEOS’ ATTRITION Only the brand that adjusts to the changes in the operating environment will survive in 2024, argues SOLA ONI

See page 21 EDITORIAL

EXODUS OF HEALTH PROFESSIONALS

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President Tinubu’s actions will always be dictated by the public interest, writes ABDULAZIZ ABDULAZIZ

PRESIDENT TINUBU WIELDS THE BIG STICK

"I took an oath to serve this country and give my best at all times.

Like I said in the past, no excuse for poor performance from any of my appointees will be good enough...

Within the first quarter of this new year, Ministers and Heads of Agencies with a future in this administration that I lead will continue to show themselves."

– President Bola Tinubu, 2024 New Year broadcast

The mother hen, goes a Hausa proverb, stomps on its chicks not because it doesn't love them. It is a gesture aimed at passing life lessons and correcting bad behaviours. Some decisions taken by President Bola Ahmed Tinubu in the past few days have shown that like the hen in a brood, the President is ready to step on erring younger ones in the flock to indicate that bad behaviour is intolerable.

On Monday, President Tinubu suspended Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, from office. The suspension was to allow for a thorough investigation into allegations of financial impropriety against her.

A few days earlier the President had directed the suspension of the National Coordinator of the National Social Investment Programme Agency (NSIPA), Hajiya Halima Shehu. Her suspension was in response to alleged suspicious movement of cash from the NSIPA account into private purses.

While the wrongdoings ascribed to the two do not immediately make them culpable, their suspension was the rightful administrative practice to enable them clear their names and not obstruct investigations.

What is of interest, however, is that these two women were not just mere officeholders. They are individuals who are very close to the President on account of their membership of the ruling All Progressives Congress (APC) and the prominent roles they played in his campaign. Those who know the closeness the two ladies have with the President thought he would dilly-dally and not wield the big stick. In particular, some had placed bet that nothing could happen to Betta, who was a workaholic National Women Leader of the party during the campaign.

But for President Tinubu political relationships and personal debts would have to give way where public interest and accountability are on the table. Someone else could sacrifice the commonwealth of Nigerians and disregard public outcry to save their associates, not President Tinubu.

In the spirit of the heavy words he swore to during his inauguration as the President on May 29, last year, President Tinubu has at various times vowed to put the interest of the public first. He had sworn to protect the national interest “without fear or favour; affection or ill will”. Living up to the wordings of the oath of office means there would be no sacred cows and no one too big or too small to face any necessary sanction. This Mr President had said repeatedly.

In his latest broadcast to the nation on January 1st President Tinubu reiterated the primacy of the interest of the public above anything else in the way he runs the affairs of the country.

“Everything I have done in office,” he said in the televised address, “every decision I have taken and every trip I have undertaken outside the shores of our land, since I assumed office on 29 May 2023, have been done in the best interest of our country.”

In talking about public interest, the most primal of it is ensuring that the commonwealth of the citizens is not pilfered or mismanaged by those unto which it is entrusted. Like in a congregational prayer where the congregation takes a cue from the

imam, in matters of accountability the rest of the crowd in the lower rungs of the ladder ought to take after the leader at the top. In this regard, President Tinubu has done well to set the example for his appointees. For him leadership is about service and sacrifice. That is his mantra and the code of conduct he’d expect from all his appointees.

At a reception during Eid-el-Kabir in Lagos last year the President cited an example of this self-denial in favour of what is in the overall interest of the country. He used the example of the forex abuse which he met on assumption of office where a few people with proximal advantage to power were cashing out from the arbitrage exchange system. “I could afford to share the benefit by participating in the arbitrage, but God forbid! That’s not why you voted for me,” he had said.

The word service in ‘public service’ means that holders of public office see it as a patriotic call to service and they bend over backwards to give their contributions to the nation. Turning such opportunities to avenues to pilfer the common tilt or paying lip service to the task assigned to one are inexcusable. This is why aside from wrongdoing, another thing President Tinubu marked out as intolerable is laxity on the part of appointees.

He had said it not once or twice that persons who are not ready to offer meaningful service would be shoved off the table. To demonstrate that this was not just empty talk, the President made sure that all ministers were issued with Job Description, Targets and Key Performance Indicators.

The purpose of this was to have measurable variables that would enable assessment of performance.

Secondly, at the end of the cabinet retreat each minister signed a performance bond with the President committing them to delivering on the expectations outlined for each of them.

The options for everyone are clear.

As he said in the New Year’s message, for President Tinubu it is either positive contribution to Nigeria or nothing at all.

Abdulaziz is Senior Special Assistant to the President on Print Media

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KALU OKORONKWO argues that the incessant violence is due to failure of governance

THE CHRISTMAS EVE CARNAGE ON THE PLATEAU The recent spate of killings in Plateau State and especially the Christmas eve bloodshed that left several people dead points not only as ugly evidence to the fragility of peace in the once peaceful state and by extension the country as a whole but, more critically, as a clear indictment of governance failures at all levels.

Plateau State has tragically become a recurring scene of bloodshed and despair. The loss of lives, displacement of communities, and the deepening ethnic and religious fault lines underscore a systemic breakdown in the very fabric of governance.

Media reports had it that the attack on about 28 communities in Mangu, Bokkos and Barkin Ladi Local Council Areas of the State left over 185 innocent people killed in their sleep by heartless invaders while about 221 houses were burnt down and more than 10,000 persons currently displaced.

The mayhem unleashed on the affected peaceful rural communities is the worst according to reports since 2018.

It is even more regrettable that the attack according to reliable community sources was said to have been carried out even when notice of the impending disaster was announced through a letter dated November, 15 and sent to the communities by the perpetrators of the dastardly act.

The question that readily comes to mind is: what did government at various cadre do to protect the lives and properties of the vulnerable communities?

Could these barbaric acts not have been stopped if leadership at all levels were responsible and proactive? According to His Eminence the Sultan of Sokoto, Alhaji Abubakar Sa'ad III, “Why can't we be proactive and stop such attacks before they happen?" The Sultan as a retired officer in the Nigerian Army is well positioned to ask such a question knowing the place of intelligence in crime prevention.

The ongoing tragedy on Plateau State is not just a consequence of isolated incidents but a manifestation of the collective failure of leadership, accountability, and the responsibility to protect citizens, ultimately pointing to the urgent need for a radical reassessment of governance structures and security architecture.

The history of killings and bloodbath in Plateau State, is deeply rooted in a complex interplay of ethnic, religious, and socio-economic factors.

The state, situated in the North Central region of Nigeria, has experienced cycles of violence that have claimed numerous lives and led to the displacement of communities. The conflicts are often characterized by clashes between various ethnic and religious groups, primarily the Berom, Fulani, and Hausa, as well as Christian and Muslim communities.

Once celebrated for its ability to harmonize the coexistence of diverse ethnic and religious communities, the recent outbreaks of violence in Plateau State reveal a failure in the basic duty of the government to ensure peace and security. The escalation of conflicts and the inability to prevent recurrent clashes indicate a lack of effective peacebuilding strategies and crisis management.

Causes of escalating violence in Plateau state are diverse and difficult to narrow down to a particular factor.

Plateau State is a diverse region with a mix of Christians and Muslims, as well as various ethnic groups. The intersection of religious and ethnic identities has played a significant role in the conflicts, with tensions often escalating along these fault lines. Places of worship, homes, and entire communities have been targeted based on religious and ethnic affiliations.

One other major reason for violence in Plateau

State is related to disputes over land and resources.

Competing claims for fertile land, grazing areas for cattle, and access to water sources have fueled longstanding conflicts between indigenous farming communities and nomadic pastoralists.

The effectiveness of the security response to the conflicts has often been questioned. Critics argue that security forces have sometimes been ill-equipped or slow to respond, allowing violence to escalate. In some cases, allegations of bias and complicity have further eroded trust in security institutions.

While responding to the recent attack on communities in his domain and leading to lost of lives, the governor of Plateau State, Caleb Mutfwang frowned at the incident and condemned the attacks vowing to bring the perpetrators to book.

He however linked the recent Christmas attacks to criminality while describing the perpetrators as dare devils in human flesh.

In his words “This has indeed been a very gory Christmas for us. We have had to celebrate with a heavy heart. Just when people had finished preparing for Christmas celebrations, unprovoked attacks were unleashed on several of our communities. As I am talking to you, in Mangu Local Government alone, we buried at least 15 people. So far this morning in the Bokkos Local Government, we were counting not less than 100 corpses. I have yet to take stock of that of Barkin Ladi. Most of the communities affected in Barkin Ladi share a border with the Bokkos Local Government”.

In an emotion laden voice, the Governor further lamented that no fewer than 64 communities in the state had been displaced by terrorists who were occupying schools in the local government area.

“As I am talking to you, in the Riyom and Barkin Ladi Local Governments, schools have been occupied by these terrorists for almost a number of years now. We have not less than 64 communities that have been displaced and their lands have been taken over by these terrorists.”

The persistent violence in Plateau state and by extension the country as a whole brings to the fore the question of the effectiveness of the security architecture in the country and raises concerns about the adequacy of intelligence gathering, the responsiveness of law enforcement agencies, and the capacity to quell violence swiftly.

The failure to provide a secure environment for citizens not only undermines trust in governance but also perpetuates a cycle of reprisals and counter-reprisals. The deep-rooted nature of the conflicts suggests a failure in addressing underlying issues related to governance structures. Whether it be issues of resource allocation, land ownership or historical grievances, the government's inability to implement effective policies that address these root causes exacerbates tensions and leaves communities vulnerable to exploitation by those seeking to fuel unrest.

Okoronkwo, a leadership and good governance advocate writes from Lagos and can be reached on kalu. okoronkwo@gmail.com

Only the brand that adjusts to the changes in the operating environment will survive in 2024, argues SOLA ONI

BRANDING AS PANACEA FOR CEOS’ ATTRITION We must admit that 2024 is a mixed grill of many opportunities and risks. Every year proves to be so but in Nigeria, the peculiarity of this year is the great expectation that the Tinubu Administration will speed up the turnaround of the comatose economy. I agree with Morgan Stanley’s position in the analysis of the Nigerian economy and the outlook for 2024. The analysis says that if the new administration in the next two to three years succeeds in reversing the harmful policies and economic malaise of the past eight years, Nigeria could witness a sharp upturn in economic growth.

The leading global bank and wealth management firm says, “This is likely to present investors with opportunities in local equity markets, especially in the telecom, consumer goods and durable sectors. In the long term, the new administration’s challenge will be devising sound policies in education and training to unleash Nigeria’s human capital potential, perhaps its greatest assets...”

Beyond Morgan Stanley’s forecast, one

untapped area which the new administration can exploit as a cash cow is the commodities ecosystem, which has strong potential to grow the Nigerian Gross Domestic Product (GDP), given appropriate policy measures.

Chief executive officers (CEOs) across the globe are under intense pressure to grow their companies, generate values for shareholders and retain their exalted position. Those in the C-Suite Class must be ready to bend backward and if need be lose weight to defend their unusual high-paying jobs in 2024. They should work harder to avert losing their plum job to the strike of corporate raiders.

They must take a cue from the fall of Stephen Elop, the famous CEO of Nokia who under his leadership, the company’s sales tumbled.

The company, whose operating profit jumped from $1 billion in 1995 to $4 billion in 1999 due to superior quality product, recorded a 90 percent decline in market value due to stiff competition by Apple within six years. When Microsoft completed the acquisition of Nokia in April 2014, the emotive speech and tearful conclusion of Elop that “we didn’t do anything wrong, but somehow, we lost,” has become a reference point for students of management.

The statement has been trending in the social media as a flashback to how a company can lose existence for failure to adjust to changing realities in the face of technological disruptions, stakeholder engagement and dynamic management of staff. With all its extraordinary performance between 1980s and 1990s, Toshiba, a firm in the pantheon of

technology trailblazers, fell on the garbage heap of history for its boss- knows-it - all strategy, which precluded the staff from deploying their innovative ideas.

Any CEO that will retain his enviable seat in 2024 must not focus only on analysis of the economy and adjustment of business models but also take a deep look at the company’s branding policy and employee engagement strategy. Every company must build trust and credibility of its stakeholders to remain in business.

A well- managed brand can survive and thrive under any type of business environment.

Brand is not just about a company’s logo and or it's colour. These are brand attributes. Brand is the trust that a customer has in a company and this translates into customer loyalty as long as the trust is not breached. Consistency is a major attribute of a great brand. Regardless of the new ways of doing business, an enduring brand must retain part of its identity, especially, the uniqueness of its products and services. The whole issue is to stay true to one’s root.

If you do not tell your story, your competitors will tell it for you, obviously in a damaging way. This is not propaganda but verifiable success stories at the right time, through the right channels to the right audiences. This is one of the areas where branding and strategic public relations intersect to build a positive image for a company or an individual.

Quoted companies are obliged to provide regular and timely information.

This is the heart of the Post Listing Requirements and a fundamental way to ensure investor protection. There are sanctions when a quoted company breaches this rule in a securities exchange.

Modern professionals of public relations deploy storytelling to generate contents that come under earned media, the most authentic story about an organiisation or an individual. Only the brand that adjusts to the changes in the operating environment will survive the challenges in 2024. A brand must streamline by creating platforms where its customers and other stakeholders can connect seamlessly. It must optimize workflow, strengthen consistency, create on-board content, sustain brand identity, increase brand engagement, constantly improve marketing strategy and drive sales growth to remain in business.

An unwritten law in brand management is to put the customer at the center of marketing to ensure quick resolution of unmet needs. Companies products must be based on the needs of customers. Some quoted com- panies on Nigeria Exchange Limited (NGX) that adopt this model have always stayed above the curve with solid balance sheets and shareholder value.

Oni, an integrated communications strategist, Chartered Stock- broker and Commodities Broker, is the Chief Executive Officer, Sofunix Investment and Communications

22 4

T H I S D AY

WEDNESDAY JANUARY 10, 2024

EDITORIAL

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

T

EXODUS OF HEALTH PROFESSIONALS The authorities must give adequate attention to the health sector

he Nigerian Medical Association (NMA) has warned that the country might lose more than 50 per cent of its skilled healthcare workforce by 2025 due to the mass migration of doctors and nurses. “The last few years have been particularly challenging for the health sector in Nigeria given the unabating exodus of healthcare workers, especially doctors and nurses, from Nigeria in search of greener pastures,” NMA Chairman, Ogun State Branch, Dr Azim Ashimi, stated in a New Year message. “It will be foolhardy to think that we will have the younger and less skilled professionals to hold forth because they also constitute a major percentage of those not willing to stay.”

According to the NMA, about 50 doctors migrate from the country every week.

That many of these medical doctors are products of our tuitionfree public universities makes the situation even more troubling. For context, Nigeria had trained about 100,000 medical doctors as of May 2022. Of the number, 70 per cent migrated to the United States, United Kingdom, Saudi Arabia, and other nations they feel their services are better valued. To compound the challenge, doctors are not the only health professionals seeking greener pastures abroad. Medical laboratory practitioners, pharmacists, nurses and allied personnel are also leaving the country in droves.

The reasons for the mass exodus of doctors, trained largely at public expense, are obvious. Like academics and indeed other professionals, they are treated with disdain. They work long hours in poor health conditions. This is exacerbated by inadequate and ageing infrastructure, and poor remunerations.

Besides, in some states of the federation, doctors are owed salaries for months, thus prompting frequent industrial actions. Agreements with government are

hardly honoured.

With an overwhelming pressure on the few remaining doctors in the country, the federal government must consider the situation in the health sector a national emergency. It is bad enough that the nation does not have the World Health Organisation (WHO) recommended number of medical doctors for the population, but a further depletion of the remaining few will complicate issues. As a matter of urgency, the federal government must address the root causes of the migration; chief among which are insecurity, poor incentives, bad working conditions, and low funding of the health sector.

Agencies of the United States, United Kingdom, Saudi Arabia, Canada, South Africa, United Arab Emirates, and many other countries routinely conduct recruitment exercises in a country of one doctor to more than 5000 patients, a far cry from the WHO recommended ratio of one to 600. Nigerian doctors are among the least paid globally; a situation that spurs them to move to countries where they can get better incentives. Till date, Nigeria's health sector funding still dangles between two and three per cent in allocation of the entire national budget. Even if the entire health sector allocation is released - which is usually not the case - the amount cannot address issues of primary healthcare, not to mention other areas of the sector.

This apparent neglect of the health sector is encouraging medical tourism among the middle class and the wealthy. There are no adequate statistics but there is no doubt that Nigerians are spending a fortune outside the country on health.

To reverse the country’s worsening health sector, and retain the very best professionals at home, health authorities must improve the present work environment. Nigeria has what it takes to equip the hospitals with the best equipment available while remunerations should be competitive. The pasture should be made greener at home.

To reverse the country’s worsening health sector, and retain the very best professionals at home, health authorities must improve the present work environment T H I S D AY

EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

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 THE DANGERS OF ‘COTONOU CERTIFICATE’ The excellent investigative report by the Daily Nigerian and the subsequent suspension of accreditation of degree certificates from Beninese and Togolese universities by the federal government of Nigeria have put a dent on every certificate genuinely or ill-obtained from institutions in these West African countries and some other African countries. This includes certificates from East Africa as well.

The urge for these certificates, particularly among young Nigerians, is simply the price we pay for our inclination toward seeking easy solutions and allowing personal interests to override the national image.

One interesting aspect of the Cotonou 'easy' certificates is that they predominantly attract young people from Nigeria's 'semi-middle' class and lazy individuals from wealthy families.

For them, obtaining a bachelor's degree often involves pursuing studies at Benin or Togo universities, which admit anyone able to pay for the desired degree.

Another unfortunate aspect is that someone who obtains a bachelor's degree in less than two months can easily secure a job in a sector involving life and death, make critical decisions in vital areas of public life, or lead a group of competent individuals who have diligently earned their certificates. We hope there are

no doctors, pharmacists, engineers, etc., practicing in Nigeria who obtained their certificates through 'crooked ways' from Benin, Togo, etc. However, Nigeria’s professional and regulatory bodies should have prevented them from gaining entry.

Fake certificates pose a serious threat to the nation. In more developed countries, this issue would be treated as a 'war' against the country. The Nigerian government should not only suspend accreditation from these countries but also take decisive action to shut down these irresponsible institutions targeting Nigeria and punish the perpetrators.

However, Nigeria shouldn't throw away the baby with the bathwater; there are individuals who have genuinely obtained certificates from reputable institutions in these African countries.

Nigeria should address the issue from both ends—domestically and with these countries. Domestically, authorities need to address why our young people are opting for universities abroad.

The answer lies in our universities being plagued with incessant strikes, some lecturers being unnecessarily sadistic, and at times, foreign certificates being undeservedly celebrated.

Secondly, serene learning environments are attractive; however, some of Nigeria’s university lecture classrooms and theatres are overcrowded and in poor condition. In contrast, foreign uni-

versities provide beautiful and appealing learning spaces. Additionally, it raises questions about why graduating from a private university in Nigeria is often easier than from a public university, especially when many lecturers at private universities are the same individuals teaching at public universities.

To address the issue at its source in these African countries, Nigeria should leverage its diplomatic influence in West Africa, compelling these nations to mandate that private universities adhere to established standards and penalize offenders. Those implicated should face legal consequences, as certifying unqualified individuals is akin to waging a war on Nigeria’s human resources development and socio-economic sectors.

Fake degrees certificates from Benin and Togo involve two actors: the institutions in those countries and their collaborators in Nigeria. Moreover, fake degrees are not confined to Benin and Togo; they are a global issue. According to a report by the Academic Credentials Evaluation Institute, Inc. (ACEI Global), based in Los Angeles, CA, USA, on December 2, 2023, Israeli police arrested 40 Israeli doctors, medical interns, and pharmacists who had presented false credentials to Israel's Health Ministry.

Zayyad I. Muhammad, Abuja

23

T H I S D AY • Wednesday, January 10, 2024

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

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

08056356325

J a n u ar y

S & P INDEX

9 , 2 0 2 4

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 to daTE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT Monday, July 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Budget Deficit: FG Raised N41.64bn via Saving Bonds in Three Years

Kayode Tokede As the federal government continues to borrow from local investors to bridge budget deficit, the government’s exposure to savings bonds alone grew by a total of N41.64 billion between 2021 and 2023, THISDAY investigations has revealed.

Over the years, investors’ patronage for FGN savings bond auction increased as it serves as alternative means of investment and lending to the government to finance key infrastructure, among others.

The government’s resort to Savings Bond reached a new high in 2023 as a total of N16.77 billion was borrowed from local investors

since the initiative was launched in 2017. The growth was influenced by higher interest rate compared to the interest rate on Treasury bills (TBs) amid double-digit inflation rate.

The interest rates on FGN Savings in 2023 ranged between 9.6 per cent and 13.287 per cent.

However, in contrast, the Federal Government raised about N6.658 trillion through treasury bills in the same year, an indication of the level of importance placed on both short-term debt instruments.

Findings by THISDAY showed that average interest rates offered on 2-year and 3-year Saving Bonds in 2023 was a double-digit rate as against an average single interest rate between 2022 and 2021 respectively.

In 2022, the total allotment

for FGN Savings Bonds was at N16.59billiion, representing an increase of 100.46 per cent from N8.28billion reported by the Debt Management Office (DMO) in 2021.

The appetite for FGN Saving Bonds indicates that Pension Funds Administrators (PFAs), and Nigerian investors prefer investment instruments with less volatility that assures them of their capital returns albeit with low yield on investment.

The debt office has unveiled the initial bond offering for 2024, comprising two FGN savings bonds, available for subscription.

DMO disclosed that the two-year FGN savings bond due on January 17, 2026, at the interest rate of 11.033 per cent per annum and three-year FGN savings bond due on January

17, 2027, at the interest rate of 12.033 per cent per annum.

According to the DMO, the opening date is scheduled for January 8, concluding on January 12, with settlement slated for January 17. Additionally, coupon payments are expected on April 17, July 17, October 17, and January 17.

FGN Savings Bonds are offered at N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million. Interest is payable quarterly while bullet repayment (principal sum) is on maturity.

FGN savings bonds are considered investment options for trustees under the Trustee Investment Act.

They also count as government securities, making them eligible for tax exemption for pension funds according to the Company Income Tax Act (CITA) and Personal Income Tax Act (PITA).

These bonds are listed on the Nigerian Exchange Limited (NGX), and they are seen as liquid assets when banks calculate their liquidity ratio.

Responding to THISDAY enquiry on the matter, the Vice President, Highcap Securities Limited, Mr. David Adnori stated that bonds by federal government are oversubscribed over current liquidity surplus in the financial system, stressing that institutional investors continually look for new avenues to invest funds from

maturing securities, coupons and dividend receipts, and new AUMs generated.

According to him, “This is in addition to the fact that FGN bonds are essentially risk-free. Notably, Nigerian pension funds are willing takers of FGN debt. Nigerian pension funds have historically favoured government debt as an asset class due to the paucity of good quality investable securities available to them. Other related reasons include the relative lack of depth of the equities market, portfolio safety considerations, and strict investment guidelines by the industry regulator.”

The story continues online on www.thisdaylive.com

Nigeria’s External Reserves Plunge 10.86% Year-on-Year, Now $33bn Nume Ekeghe Data on Nigeria’s external reserves position released by the Central Bank of Nigeria (CBN), has revealed a notable decline of 10.86 per cent year-on-year (YoY) from $37billion on the first business day of 2023 to $33 billion in the same period in 2024.

The figures captured over the preceding months demonstrate a notable trend of variation.

On the 3rd of January 2024, the reserves stood at $33,042,246,777, marking a slight decline from the

$33,016,694,505 recorded on the 2nd of January 2024.

This fluctuation echoes the movements witnessed towards the end of 2023 when the external reserves fluctuated within the range of $32 billion to $33 billion. The year concluded with reserves reported at $32,912,429,900 on the 29th of December 2023, showcasing an incremental rise from figures observed earlier in the month.

Nigeria’s external reserves are influenced by diverse elements, including global oil prices, trade balances, foreign exchange inflows,

and government policies, which collectively impact the nation’s financial stability.

The figures throughout December 2023 showcased this fluctuation.

On the 29th of December, the external reserves were reported at $32,912,429,900, retaining the same value as the previous day.

However, by the 28th of December, a marginal increase was noted, with reserves standing at $32,892,386,111.

The 27th of December saw a similar upward trend, recording reserves at $32,870,500,673, while figures from the 22nd

of December reported reserves at $32,800,465,802, indicating a gradual ascent in the country’s external reserves leading up to the year-end.

Economic analysts and financial experts remain observant of these movements, recognising the pivotal role of external reserves in bolstering Nigeria’s economy against unforeseen economic shocks. The reserves act as a buffer, aiding in maintaining stable exchange rates, managing inflationary pressures, and ensuring confidence in the nation’s

monetary policy.

However, analysts have noted that these early gains would get a further boost on the inflow of the AFEXIM loan slated to come into the coffers.

Analysts at Meristem in their 2024 outlook stated: “ As of 30th December 2023, the exchange rate on the official window depreciated by 96.56 per cent YoY to N907.11/$.

The depreciation on the parallel market was 63.29 per cent YoY to N1,210.00/$, maintaining a premium of 33.39 per cent over the official rate.

“On a positive note, the external reserves remained above the benchmark of 3.0 months of import cover recommended by the International Monetary Fun (IMF) standard and could finance up to 6.30 months of import as of September 2023. Also, we expect the receipt of the first tranche of the long-awaited loan facility from the AFREXIM bank $2.25bn out of $3.30bn to increase the country’s foreign reserves levels.

The story continues online on www.thisdaylive.com

M a r k e t d ata A s at F r i d ay, J a n u a r y 9 , 2 0 2 4 BONDS Description Price Yield Change Updated Time (%) ^13.53 23January 101.49 12.12 -0.01 8, 2024 MAR-2025 ^12.50 220,00 January 98.58 13.31 8, 2024 JAN-2026 ^16.2884 17January 108.25 13.02 -0.01 MAR-2027 8, 2024 ^13.98 23January 101.70 13.42 0,00 FEB-2028 8, 2024 ^14.55 26January 103.63 13.55 0,00 APR-2029 8, 2024

BILLS Maturity

Discount Yield

Change (%) Updated Time

Maturity

NTB 25-Jan24 NTB 8-Feb24 NTB 7-Mar24 NTB 11-Apr24 NTB 11-Apr24

1.75

1.75

0.00 January 8, 2024

7.29

7.32

2.14

2.14

0.00 January 8, 2024

RMBL CP VI 31-JAN-24

9.97

10.08

2.91

2.93

0.00 January 8, 2024

CRSL CP II 18-FEB-24

11.52

11.72

3.88

3.92

0.00 January 8, 2024

FLOURMILLS CP III 29-FEB-24

9.25

9.41

2.40

-2.33 January 8, 2024

UACN CP VI 19-MAR-24 LFZC CP IV 16-APR-24

10.34

10.64

2.38

OTC F X F U T U R E S

CPs Discount Yield

Change (%)

Updated Time

0.00 January 8, 2024 0.00 January 8, 2024 0.00 January 8, 2024 0.00 January 8, 2024 -0.40 January 8, 2024

Contract Current Tenor Contract Rate ($/₦) (Month) NGUS JAN 13 – 29 2025 NGUS FEB 14 – 26 2025 NGUS MAR 15 – 26 2025 NGUS APR 16 – 30 2025 NGUS MAY 17 – 28 2025

Updated Time

January 8, 2024 January 8, 2024 January 8, 2024 January 8, 2024 January 8, 2024

24

Wednesday, January 10, 2024 • T H I S D AY

BUSINESSWORLD

finance

Masterstroke for Financial Security and Inclusion Nume Ekeghe writes that Nigeria’s plan to link Bank Verification Numbers and National Identification Numbers will enhance financial inclusion, and security amongst others

T

he recent Central Bank of Nigeria (CBN) policy mandating the linkage of Bank Verification Numbers (BVN) and National Identification Numbers (NIN) across all tiers of accounts in Nigeria has sparked a vigorous debate.

While some raise valid concerns about data privacy and potential misuse, a deeper dive reveals the policy’s potential to revolutionise the country’s financial landscape, boosting financial security, inclusion, and economic growth. Drawing inspiration from India’s Aadhaar system, the CBN & NIMC have embarked on a bold gambit—one that, if played smartly, could transform the lives of millions.

This bold move, according to analysts, aims to revolutionise the country’s financial landscape. In a recent directive, the bank mandated the linkage of Bank Verification Numbers or National Identification Numbers for all individual bank accounts and wallets.

According to ananlysts, the policy, though generating a flurry of debate, holds immense potential for boosting financial security, inclusion, and economic growth.

A look into the legal framework underpinning the policy indicates that the National Identity Management Commission (NIMC) Act 2007 established the NIMC and mandated the creation of a National Identity Database (NID) containing unique NINs assigned to Nigerian citizens and legal residents. The Mandatory Use of the National Identification Number Regulation, 2017, further stipulates that NINs be used for various transactions, including employment, access to social intervention programs, and opening bank accounts. The CBN’s policy builds upon this existing legal framework, aiming to enhance financial security and inclusion by mandating the inclusion of identity documentation across all segments of the banking system.

Enhancing Financial Security

Imagine a Nigeria where fraudulent transactions are relegated to the annals of history. With BVN-NIN linkage, this utopia inches closer. The BVN, a unique identifier tied to bank accounts, offers a first line of defense against financial crime. When combined with the biometric verification, the wall against fraud becomes significantly sturdier. Think of it like a two-factor authentication system for your bank account, where a PIN and fingerprint are both required. This extra layer of security makes it significantly harder for fraudsters to impersonate legitimate account holders, siphoning off funds or conducting unauthorized transactions.

“The impact on cybercrime can be particularly significant. Scammers who previously relied on stolen information to conduct fraudulent transactions will face a much tougher obstacle. With biometric authentication through the NIN or the BVN, impersonation becomes highly improbable, safeguarding millions of Nigerians from online financial predators, “said a market watcher who do not want his name in print.

Doors to Financial Empowerment

According to reports, millions of Nigerians, particularly in rural areas and informal sectors, remain locked out of the formal financial system due to lack of proper identification. This financial exclusion, experts said, cripples their ability to save, invest, and access essential financial services like loans and insurance.

The NIN, with its nationwide reach and biometric verification, offers a potential key to unlock this door. By linking it to account services, the CBN aims to bring millions into the fold, empowering them to participate in the formal economy and build a brighter future.

“Imagine a cassava farmer in Benue, finally having a bank account to safely store her market earnings and access loans to expand her farm. This is the transformative power of financial inclusion, and the BVN-NIN linkage is a crucial step in that direction. It can also unlock possibilities for micro-entrepreneurs, petty traders, and informal workers, enabling them to access financial services tailored to their needs and fuel their entrepreneurial endeavors, “said a financial analyst, Tunde Sunday.

Taking Cues from India

India’s Aadhaar system, despite its controversies, has been a game-changer in financial inclusion and reducing ghost beneficiaries in government programs. The CBN & NIMC, it was learnt, recognizing its potential, have adopted a “learn and improve” approach, aiming to replicate the successes while mitigating the challenges.

Imagine replicating Aadhaar’s success in streamlining government payments and subsidies, ensuring they reach the intended beneficiaries and reducing leakages. This not only saves taxpayer money but also ensures that critical social programs reach those who need them most.

Furthermore, the Aadhaar experience offers valuable lessons for navigating privacy concerns. By adopting Nigeria’s

robust data protection framework, establishing clear communication channels, and implementing regular audits, the CBN is focused on fostering transparency and building trust with the Nigerian public. Additionally, public education campaigns modeled after India’s Aadhaar awareness efforts can demystify the process and alleviate anxieties surrounding data security.

Dive into the Advantages

Market watchers believe the benefits of the BVN-NIN linkage extend far beyond fraud prevention and financial inclusion.

“It can boost economic growth: By bringing millions into the formal economy, the policy can unlock new markets, drive entrepreneurship, and create jobs. Imagine a surge in small and medium-sized businesses, fueled by access to financial services and a burgeoning consumer base. This can lead to increased tax revenue, improved infrastructure, and a higher standard of living for all Nigerians.

“Improve tax collection: With accurate identification, tax evasion becomes significantly harder. This can lead to increased government revenue and improved public services, benefiting all Nigerians. Imagine a future where public hospitals are better equipped, roads are well-maintained, and education is accessible to all.

“Empower law enforcement: The NIN’s biometric verification can aid in crime prevention and investigation. Imagine police officers using the NIN to identify suspects, track down criminals, and solve cases more efficiently. This can have a ripple effect, making communities safer and deterring criminal activity.

Additionally, the identification of missing persons, victims of human trafficking, and even unclaimed bodies can be facilitated by the centralized database, “Sunday said.

Privacy Concerns and Solutions

Experts to THISDAY that privacy concerns are undoubtedly valid because the potential misuse of such a vast amount of data raises legitimate questions.

The CBN, they said, “must prioritize robust data protection measures and ensure transparency in how the linked data is used. Imagine regular audits, clear communication channels, and strong legal frameworks to safeguard

individual privacy. Additionally, public education campaigns, modeled after India’s Aadhaar awareness efforts, can help allay fears and build trust.

“Furthermore, it is crucial to address concerns about potential government overreach and ensure safeguards against the misuse of the vast data trove. Establishing oversight mechanisms, independent data protection agencies, and clear limitations on data access can address these concerns and reassure the public. Ultimately, balancing security with privacy is a delicate dance, and the CBN & NIMC must walk this fine line with utmost caution and transparency.”

Glimpse of Brighter Tomorrow

According to analysts, the BVN-NIN linkage is not just a policy; “it is a vision for a future where financial transactions are secure, inclusion is a reality, and economic growth flourishes. Imagine a Nigeria where small businesses can easily access loans, farmers can receive government subsidies directly, and remittance flows are streamlined. This is the future the CBN & NIMC envisions, and the implementation and enforcement BVN-NIN linkage is a crucial step in that direction.

“However, this vision depends on effective implementation. Streamlining the enrollment process, ensuring robust data security measures, and providing adequate support to financial institutions and the public are critical for success. The good news is that the CBN & NIMC have already committed themselves to engaging in open dialogue, addressing concerns transparently, and building trust with the Nigerian public.

It is also noteworthy and commendable to see our government agencies collaborating so closely and effectively.”

Conclusion

The CBN’s mandatory Identity linkage policy presents its fair share of challenges, but the potential rewards are indisputable.

While addressing concerns about privacy and implementation is crucial, the policy’s capacity to revolutionize financial security, empower Nigerians, and stimulate economic growth renders it a gamble worth undertaking. Drawing insights from India’s experiences, prioritizing robust data protection, and ensuring transparency, the CBN & NIMC can adeptly navigate potential pitfalls, unlocking the brighter future promised by this ambitious initiative.

Though the path ahead may be intricate, the potential prize of a secure, inclusive, and prosperous Nigeria is undoubtedly worth pursuing.

25

Wednesday, January 10, 2024 • T H I S D AY

BUSINESSWORLD

PENSION

Of 2023 and Struggle Against Mass Exodus from CPS As pension stakeholders in Nigeria join other members in the business community to welcome a new business year, Ebere Nwoji looks at the sector’s performance in 2023, pointing out that the struggle against mass exit of workers from CPS was a major challenge to the operators

T

he year 2023 saw the pension sector struggling to keep the over 10 million Nigerian workers who keyed into the Contributory Pension scheme(CPS). There were agitations by some sector workers to exit the CPS and establish entirely new body that would be in charge of pensions in the country. Indeed, both the industry operators and the National Pension Commission (PenCom) were during the year kept on their toes in their efforts to stop passage of bills on the exit of one sector workers or the other from the CPS. At the wake of the year, the two chambers of the legislative body secretly passed a bill seeking for an act to exempt the National Assembly service personnel from the Contributory Pension Scheme.

In passing the bill, they were seeking for an act to amend the Pension Reform Act, 2014, to exclude/exempt the National Assembly Service personnel from the CPS and establish what the law makers tagged National Assembly Service Pension Board.

The bill provided that, “the board shall be charged with responsibility of managing payment of pensions and gratuities to all personnel of the Service. The bill shall apply to all personnel of the National Assembly Service including those who had retired before the commencement of the bill. It provided that the retirement benefits of the personnel shall be adjusted to be commensurate with the provisions of the bill. They shall be charged on and paid out of the Consolidated Revenue Fund of the Federation, all such sums of money as may, from time to time, be granted by the federal government by way of pension and gratuity in accordance with the bill.”

But this was swiftly resisted by the umbrella body of pension fund administrators the Pension Operators Association of Nigeria (PenOp), which insisted that the bill sets a dangerous precedent that would not augur well for hardworking Nigerians working across the private and public sector, who depend on the Contributory Pension Scheme (CPS) for retirement security and stability.

“This scheme has brought transparency, international best practice and guaranteed peace of mind to millions of pensioners” said the Chief Executive Officer of PenOp, Mr Oguche Aguda.

Expressing grave concern regarding the way the bill was passed, PenOp insisted that the passage of the bill seems to have been unnecessarily expedited and shrouded in secrecy with very little engagement and input from critical stakeholders—as it was passed during the National Assembly’s recess.

PenOp said it was disturbing that the bill did not go through any public hearing, noting that a key component of the legislative process that allows stakeholders to have their voices and opinions heard for possible inclusion in the process was not done.

BExemption of Police from CPS

Not quite long after this, the Senate in collaboration with the House of Representatives passed a bill for the establishment of a Police Pension Board, a move that will exempt the Nigeria Police Force (NPF) workers from the Contributory Pension scheme.

The bill if assented by the president, will mean that police pension has exited from CPS under the federal government non funded Defined Benefit Pension scheme (DBS).

What this means is that retiring police officers will now receive their pension benefits through government budgetary allocation like the military and other federal government workers exempted from the CPS. Again, in a swift reaction, both PenCom and PenOp stood against it highlighting the negative implications of passing the bill.

According to PenOp, this was not the first time such bill was sponsored and passed by the sixth National Assembly.

According to PenOp, the reasons for its nonpassage by the sixth National Assembly,despite the argument and reasons adduced for such action were still valid and were further reinforced by many more economic, fiscal, social and public policy reasons.

PenOp recalled that its erstwhile Chairman, Longe Eguarekhide had spoken against similar bill saying the argument against the exemption of the above paramilitary government agencies was further reinforced by many other economic, fiscal, social and public policy reasons such as constituting additional financial burden on federal government by way of unsustainable

pension obligations, exposing government to high allocation of resources to fund their retirement benefits, dismantling of the institutions, systems and processes put in place by government, amounting to unsettling of government’s fiscal policy and financial system stability as well as resulting in erosion of pool of long term investible funds accumulated under the CPS among others.

After these reasons coupled with the intervention of the presidency, the bill was placed on hold while the police workeforce continued to be under the CPS. Feelers from the police officers themselves show that the officers wanted nothing but exit from the CPS, which for them, is not favorable because at retirement, the lump sum payable to them by their pension fund managers is nothing to write home about when compared with the gratuity payable to them by government under the Defined Benefit Pension scheme.

For an average police officer, anybody saying anything against signing of the bill is not talking in their best interest and should not speak further.

So both PenOp and PenCom continued to battle against the movement until President Bola Ahmed Tinubu suspended the entire process.

Mortgage financing

The industry during the year made good its promise to implement the aspect of the PRA2014 on use of RSA balance of contributors for mortgage financing for contributing workers.

Indeed, PenCom during the year under review, showed determination to make mortgage financing for home ownership through Workers’ RSA savings a reality.

Way back in the year 2015, the former Director General of PenCom, Mrs Chinelo Anohu-Amazu, at the sideline of the 2015 edition of the “World Pension Summit Africa Special,” informed journalists that the commission was working out modalities to ensure that Nigerian workers who contribute into the CPS use part of their Retirement Savings Account(RSA) balance for payment of equity as mortgage for acquisition of homes.

Since then, nothing was done to that effect until in 2023 when PenCom under the leadership of Aisha Dahir-Umar in September 2022, released guidelines on assessment of RSA balance for acquisition of homes by RSA holders.

In 2023, it published names of mortgage institutions approved by the Central Bank of Nigeria (CBN) for the home mortgage financing for contributing workers and kicked off the implementation in 2023.

According to PenOp report, between March and September 2023 PFAs received a total of 649 applications for home ownership amounting to N7,887,611,971 some of which have been approved and the funds disbursed .

Section 89(2) of the Pension Reform Act 2014 provides that, “Notwithstanding the provision of sub-section (1)(c) of this section, a Pension Fund Administrator may, subject to guidelines issued by the Commission,

apply a percentage of the pension assets in the retirement savings account towards payment of equity contribution for payment of residential mortgage by the the holder of Retirement Savings Account.”

RPFAs After 20 years of CPS

Towards the end of 2023, operators took a critical look at their journey through the CPS in redefining the fortunes of pensioners in the past 20 years and arrived at a conclusion that it has really been a fruitful adventure.

In a paper titled, “At the Dawn of 20 Years of Pension Reform What are the Gains,” the Chief Executive Officer of PenOp, Mr Oguche Aguda, said Pension Fund Administrators (PFAs) in the country have paid a total sum of N1.63trillion to retirees in both public and private sectors under both programme withdrawal and Annuity in the past 15 years.

He said the above figure was to 442,000 Nigerians who retired from services in various employments in the country during the period.

Agudah, said out of the N1.63trillion lump sum paid on both life annuity and programme withdrawal, in the second quarter 2023 total life annuity payment stood at N665.1 billion. This according to him was received by 111.708 applicants.

He said in third quarter 2022, a total of N595.22billion was paid to 102,696applicants as annuity lump sum.

He said in third quarter 2019, a total of N386.30 billion was paid as annuity life lump sum to 71,214 applicants while in the third quarter 2015, a total of N101.96 billion was paid to 20,615 applicants and in third quarter 2011, N1.51 billion was paid to 331 applicants as annuity.

Oguche said under programme withdrawal, in second quarter 2023, a total of N964.23 billion was paid to 339,201 applicants as lump sum under programme withdrawal while in third quarter 2022,N887.60 billion was paid to 315, 112 applicants in third quarter 2022.

In third quarter 2019, a total of N 589.33 billion was paid to 117,502 applicants under the programme withdrawal while in third quarter 2015, N288,541 billion was paid to 117,502 applicants and in third quarter 2011, a total of N99. 29 billion was paid to 35,419 applicants.

The Annuity and programme withdrawal systems are two windows through which retirees under the Contributory Pension Scheme receive their retirement benefits.

He insisted that twenty years down the line the Contributory Pension Scheme instituted by the former President Olusegun Obasanjo has recorded significant growth with the total assets now standing at N17.65 trillion as at October 2023.

From PenCom’s table

PenCom’s account during the year said three key issues must be recognised and practiced by operators to get pension work properly in the country, especially as CPS enters its 20th year of practice in Nigeria.

PenCom’s Head of Survillance Department, Dr Ehimeme Ohioma at the PenOp media

retreat said said the three key issues in pension management which all PFAs must not joke with were; adequacy, sustainability and service delivery.

According to him, pension payment must be adequate for retirees to solve their problems. He however said for pension payment to be adequate, workers and their employers must contribute adequately because a worker’s contributions determine his payment at retirement.

He said the pension system must be sustained to ensure continuity.

He added that to ensure that continuity, the managers must ensure that in this period of inflation, return on investment was above inflation.

This, he stated, could be done through right choice of investment instruments and windows.

On service delivery, Ohioma said pension administrators must bear in mind that there must always be complaints from the contributors.

He said this being the case, it behoves operators and regulators to ensure that the complains were perfectly treated.

This, he added, explains why PenCom increased the capital of operators to ensure they have critical infrastructures to be able to serve the public.

He highlighted capacity as another critical factor in ensuring successful pension management.

He said skill of individual pension fund manager needed to be constantly updated to meet acceptable standard. He said these were the secret behind the accumulation of N17.65 trillion pension assets in Nigeria between June 2004 and October 31, 2023.

He said 64 per cent of the assets were invested in federal government securities, 11 per cent in corporate debt and 8 per cent in quoted equities while less than 1 per cent was in private equities and infrastructure.

Investment in infrastructure

Also during the year, pension fund operators sought for investment in infrastructure, technology.

At the beginning of the year 2023, contrary to initial fears by pension fund managers that investment of pension funds in infrastructural development would sink contributors’ funds due to lack of safety, the PFAs disclosed their plans to invest heavily in infrastructure in 2023.

The managers disclosed this at a virtual market outlook seminar during the year where they reviewed their economic and investment performance in 2022 and deliberated on their investment out look for the 2023 year.

In his presentation, Agudah, said 42 per cent of the Pension Fund Administrators indicated that they were actively looking for investments in infrastructure while another 50 per cent said they would also consider investments along that line of business in the year.

The event, which attracted frontline economists was anchored on the theme: “The Nigerian Economic and an Investment Outlook: A focus on Pension Fund Investment Strategies.”

Aguda, however, said although fund managers were cautious about private equity, they would consider a deal-by-deal basis.

According to him, 25 per cent of fund managers polled were actively looking to invest in private equity while 67 per cent say they would consider it.

He added, “Fund managers are looking to invest in impact focused funds but transparency and structure are key.”

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T H I S D AY • WEDNESday JANUARY 10, 2024

Property & environment Lagos Says HouseHeight is No Longer its Agent on Sale of Harmony Court Homes Bennett Oghifo The Lagos State Government has said HouseHeight Developers, a real estate developer, no longer represents them in the sale of homes in the government’s Harmony Court.

The Permanent Secretary of Lagos State Ministry of Housing, Engr. Abdulhafis Toriola said this during a management meeting at the state

headquarters, according to a statement issued and signed by the Director, Public Affairs, Ministry of Housing, Adeola Salako.

Toriola stated that “the erstwhile partnership between the State Government and House Heights Limited has been terminated for non–performance in accordance with the terms and conditions of the contractual agreement.”

The statement said, “He (the commissioner) used the medium to bring the activities of a real estate developer, HouseHeight Limited, to the attention of the members of the public and advised prospective homeowners, particularly in diaspora to refrain from transacting any business with the firm and their agents on any matter relating to Harmony Court along Command Road,

Ipaja, Ayobo – Ipaja LCDA, Lagos State.

“Toriola pointed that the Managing Director of House Heights Limited, Mrs. Ngozi Elizabeth Ola – David popularly known as Ngozi Elizabeth Phil-Ebosie is not an agent or partner of Lagos State Government and has not been appointed to deal on behalf of the State Government in respect to any three-bedroom apartment

located at Harmony Estate.

“Any claim by anyone that he or she is an appointed agent by the Ministry is false and should be disregarded,” he affirmed.

He then advised the members of the public, particularly those in diaspora, to disregard the claims of ownership by HouseHeight, saying, “anyone who deals with the firm or its agents or buys home from her

in violation of this notice does so at his or her own risk.”

The statement said, “The Director of Legal Services, Ministry of Housing Lagos State, Mrs. Bukade Idowu – Koya further advised that anyone interested in the homes should contact the office of the Permanent Secretary of Ministry of Housing, Block 3 /Second floor, The Secretariat, Alausa – Ikeja.”

Julius Berger Partners FRSC for Safety During Yuletide Holiday Season Leading engineering construction company, Julius Berger Nigeria Plc stepped up its Corporate Social Responsibility initiatives when the company donated no fewer than 100 reflective jackets to the Federal Road Safety Corps (FRSC) to boost the Corps’ safety drive on Nigerian roads in the 2023 yuletide holiday season.

The leader of the Julius Berger CSR team at the event, Mr. Trust Ekaji emphasised that the effort is part of the company’s CSR contributions, adding that Julius Berger believes that motorists should be educated and enlightened on the dangers of over-speeding and also the use of expired tyres on the highways.

Trust said: “We need to understand that the FRSC embarks on special activities during the yuletide season on Nigerian highways to ensure road users, especially those

going on holidays arrive at their destinations safely.

Julius Berger also believes that people should get to their destinations alive and not dead to celebrate and enjoy their holidays. It is in this sense that we decided to support the FRSC with these reflective jackets to enable them do their jobs effectively and safely.”

Earlier, the Sector Commander, FCT, Chorrie Isah Muta’a, said the jackets will serve their personnel in traffic control, especially during this period when there is heavy traffic on the roads. “As the name implies, it is reflective, and you see it from afar.

Therefore, you are cautious, and you pay attention to what they are indicating to you in terms of dangers on the highway, which include speed limits among others.

The FCT Sector Command

appreciates this kind gestures shown to us by Julius Berger Nigeria Plc. We also want to extend our gratitude to the management of the company because they made this happen. These reflective jackets came at a time we need them, especially considering the fact that we have new officers, and it is wrong to send them to the roads without properly equipping them. We promise to put them to good use to enable us serve the members of the public well. It will further safely help us to do our jobs on the roads.”

Chorrie Isah further added: “On behalf of my men, I receive these gifts, and we pledge to do more in ensuring safer highways”, he stated.

The Julius Berger delegation to the event included Mr. Kola Balogun, Michael Ashofor and Uzoma Olivia.

L-R: Federal Road Safety Corps Sector Commander, FCT, Chorrie Isah Muta’a; and JBN Deputy Corporate HSE Manager, Trust Ekaji, during the presentation of reflective jackets to the FRSC in Abuja…recently

Addressing Nigeria’s 21st Century Housing Needs Olamide Abegunde Amidst the myriad of problems facing Nigeria, housing stands out. According to the Central Bank of Nigeria in 2019, only 10% of Nigerians who desire to own a home can afford it, compared to 72% in the United States and 78% in the United Kingdom. This estimate is inadequate for the size of our economy, indicating that only two hundred thousand people can afford a house out of a population of over two hundred million and still rising.

This issue is exacerbated because, even with this revelation, governments have not deemed it expedient to declare an emergency in the housing sector of the country’s economy. The post-civil war housing challenges persist, with no concerted efforts made to address the debilitating homelessness experienced by many Nigerians at the Federal, State, and Local government levels.

However, it is pertinent to state that the Federal government and state governments have, from time to time, embarked on the provision of low-cost housing. Still, it is obviously never sufficient, as what they do is merely a tip of the iceberg.

Speaking statistically, with a population of over 200 million, Nigeria is the largest black country in the

world. According to Rice University Research, Nigerians rank as the highest educated immigrant population in the United States. The country has a huge youth population, unemployed, unemployable, illiterate, and uninformed, especially in the North, which has become a catchment area and recruitment ground for terrorism and banditry laced with religious extremism. Consequently, the housing problem in Nigeria is undoubtedly a pandemic of immense proportion. According to the International Human Rights Commission (IHRC), more than 28 million Nigerians lack access to decent and affordable housing. The Federal Mortgage Bank of Nigeria (FMBN) estimates that Nigeria will require about 28 million housing units to address the housing deficit in the country.

Housing Deficit in Nigeria Attempts in the past, largely by the federal government and in some instances state governments, to address the housing deficit in Nigeria can be compared to a proverbial drop in an ocean. Instead of reducing, the housing gap keeps increasing, evidenced by astronomical rents, especially in urban areas.

Unfortunately, even the issue of high rent is not being addressed by the govern-

ment, apparently because it lacks the moral rectitude to do so. The provision of affordable housing has been an insurmountable problem for the government itself, and its failure to provide enabling environments for public sector participation in the housing sector exacerbates the situation.

Nigeria’s post-civil war housing deficit and the unavailability of affordable housing have increased tremendously. Recent data shows that in 1991, this grew from 7 million housing units to 12 million in 2007, and progressively shot up from 14 million in 2010 to a whopping 28 million housing units in 2022. The reasons include rural-urban migration, population explosion, multidimensional poverty, galloping inflation, lack of a mortgage system, unemployment, high construction costs due to inflation, and lack of political will by the government, among others. The question from stakeholders, especially professionals in the construction industry, is, “how will access to decent housing be made available to the average Nigerian household?”

Affordable Housing in Nigeria Despite the debilitating housing deficit in Nigeria, this tide can be turned around given the country’s

immense natural and human resources. Given the huge resources required to meet the Federal Mortgage Bank of Nigeria (FMBN) estimate of N21 trillion to address housing needs, the government need not do it alone. Experts have suggested a Public-Private Partnership (PPP) Initiative where the government provides the enabling environment like land, tax holidays, and other basic infrastructures, while the private sector brings in funding, including foreign direct investments (FDIs).

Housing needs can be addressed in Nigeria using the following Public-Private Partnership (PPP) initiatives: Build – Operate – Transfer (BOT) A BOT model is generally used to develop a discrete asset rather than a whole network, for example, a toll road.

Build – Own – Operate (BOO) This is a similar structure to BOOT (below), but the facility is not transferred to the public sector partner.

Build – Own – Operate – Transfer (BOOT) The private sector builds and owns the facility for the duration of the contract, with the primary goal of recouping construction costs (and more) during the operational phase.

Design – Build The contract is awarded to a

private partner to both design and build a facility or a piece of infrastructure that delivers the performance specification in the PPP contract.

Design – Build – Finance The private sector constructs an asset and finances the capital cost during the construction period only.

Design – Build – Finance – Operate (DBFO) Similar to BOOT, DBFO is more used in the UK for PFI (Private Finance Initiative) projects.

Design – Build – Finance – Maintain (DBFM) Design – Build – Finance – Maintain – Operate (DBMFO) Similar to BOOT, DBFO (and its variations) is more used in the UK for PFI projects. The private sector designs, builds, finances, operates an asset, then leases it back to the government.

Design – Construct – Maintain – Finance (DCMF) This is very similar to DBFM. The private entity creates the facility based on specifications from the government body and leases it back to them.

O & M (Operation & Maintenance) In an O&M contract, a private operator operates and maintains the asset for the public partner. The payment for this contract is either via a fixed fee or a performancebased fee.

Innovation and Construction

Style to Reduce The Cost of Building in Nigeria In the 1980s, a commendable effort was made by the late Alhaji Lateef Jakande in Lagos to address housing needs using the Low-Cost Housing Model. This worked for that time, using multiple floors and good space economy. Even though many criticized it, that housing project was a novel approach that made many middle-class Nigerians become instant house owners.

Subsequent governments, however, have not matched the passion with which these low-cost houses were built.

Attempts should now be made for cheaper low-cost housing in addressing the housing needs in Nigeria.

Dry building construction with materials such as cement fiber boards, galvanized profiles, wood, particle boards, and other cheaper sources of building materials should be experimented with, moving away from the traditional cement and sand materials.

Nigeria has all it takes to meet its housing needs given its enormous resources; however, there has to be the will to pull her out of the housing doldrums it is presently in.

-Qs. Olamide Abegunde PMP, Mniqs, Fnimn is the CEO, Rusteve International Limited, a building construction and real estate company

WEDNESDAY JANUARY 10, 2024 • T H I S D AY

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T H I S D AY • WEDNESday JANUARY 10, 2024

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Regional Operations Director (South-East), Airtel Nigeria, Chigozie Njoku; Mr. and Mrs. Ephriam with their quadruplets; Senior Business Manager (Imo State), Airtel Nigeria, Isi Nsofor; and Managing Director, Helping Babies Breathe Centre, Dr. Chinwe Muomalo, during a cheque presentation by Airtel to support the Ephraim’s family, as part of the telecom giant’s donations to support the Helping Babies Breathe Centre in Imo State…recently

The celebration of the 100th birthday anniversary of the Asagba of Asaba, Obi (Prof) Chike Joseph Edozien, has formally commenced with the symbolic 1,000 tree-planting exercise conducted by the Iyase of Asaba, Chief P.I.G Onyeobi, and supervised by the Director-General of Delta State Capital Territory Development Authority, Chief Patrick Ukah, and House of Representatives member for Aniocha-Oshimili federal constituency, Hon Ngozi Okolie, as well as high-ranking Asaba chiefs and other stakeholders in Asaba…recently

L-R: Group Executive Director, Commercial and Business Development, Nahco Aviance Plc, Prince Saheed Lasisi; Group Managing Director/Chief Executive Officer, Mr. Indranil Gupta; and Chief Financial Officer, Mr. Adeoye Emiloju, at a press briefing on the activities of Nahco Aviance for 2024, held at the company’s premises at the Murtala Muhammed International Airport, Ikeja...recently PHOTO: KOLAWOLE ALLI

L-R; Chairman, Photojournalists Association of Nigeria (PJAN), Princess Alaba Igbaroola; FIFA accredited photojournalist and facilitator, 9mobile Capacity Building Session for Photojournalist, Modo Victor; Lead, Public Relations, 9mobile, Chineze Amanfo; and Chairman, Guild of Photojournalists Nigeria (GPN), Abiodun Ajala, during the 9mobile Capacity Building Session for Photojournalists, held in Lagos…recently

L-R: Group Corporate Communications and Events Manager, Dufil Prima Foods Limited, Mr. Tope Ashiwaju, and the Administrator, Little Saint Orphanage Home, Ilupeju, Lagos, Mrs. Maryann Ekanem-Akpan, during the donation of Dufil products to Little Saint Orphanage Home in Lagos…recently

L-R: The Oniru of Iruland, His Royal Majesty, Abdulwasiu Omogbolahan Lawal Abisogun II, and Lagos State Commissioner of Police, Fayoade Adegoke, during the CP visit to the Oniru’s palace in Lagos…recently

L-R: Member of the Nigerian Bar Association (NBA), Benin-city branch, Mrs. Esosa Osula; Edo State Attorney-General, Mr. Oluwole Osaze-Uzzi; Senior Advocate of Nigeria, Chief G.C. Igbokwe; Chairman, NBA, Benin-city branch, Mr. Nosa Francis Edo-Osagie; members of NBA, Benin-city branch, Mrs. Esther Adun and Mrs. Bridget Omo-Asun, during the annual bar dinner of the NBA in Benin-city, Edo State…recently

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T H I S D AY • WEDNESday JANUARY 10, 2024

Education

Khan: Why Govt Funding Is Important to Keep Out-of-school Children in Classrooms Dr. Rowmak Khan is the Representative a.i, UNICEF. In this interview with Funmi Ogundare, she explained the different initiatives the fund had taken to ensure that out-of-school children in Nigeria receive education and why it is imperative for the government to increase the budget and use it to ensure that school processes work efficiently and quality teachers are recruited to keep children in school

O

ne of the initiatives UNICEF intends to embark on this year is ensuring that 15 million out-of-school children return to the classrooms. How do you hope to achieve this, considering the huge number?

Nigeria is one of the countries with the largest number of out-of-school children. So, it is the primary responsibility of the government to ensure that out-of-school children return to school. The efforts we implemented in 2023 will continue in 2024 as well. We had worked with the government to introduce the Nigerian Learning Passport (NLP), a digital online platform that allows children who are out-of-school to get the basic curriculum of the school, and we have included modules that will not only help them with basic literacy and numeracy but also help them to access opportunities. So, it allows those who may not come back to school to get the opportunities as well. We have supported educational plans in the northern states such as Bornu, Yobe, Adamawa, Bauch, Kebbi as well as Lagos by improving the standards of education, which allows children to come back to school.

We also worked with the national School Based Management Committee (SBMC) which has been a vital step in addressing challenges such as school-based violence, climate change, etc.

It is not possible to bring back all the children at once, but we are doing it incrementally. We also ensured that the girl-child is taken back to school. We don’t only rely on formal education.

We also take care of the informal education of vulnerable children, especially those with disabilities.

How do you measure the success of last year’s projects?

We support the government in building the system. Our main focus is to improve the system, but one of the major bottlenecks that we found is that there is less allocation of funds for school operational costs. So finance is one area where we are trying to work with the government to unlock the domestic funds because they cannot rely on funds from partners like the UN agencies and other development partners. So this is one area that we would like to continue talking to the government about to increase their budget and efficiently use it to ensure that the schools are ramped properly and teachers are being recruited. So, teacher recruitment and operational costs are still the issues, but we will continue emphasising these. In addition, we have been supporting the national education strategy, which focuses on transition, retention and completion of adolescent boys and girls in schools in five key states in the north. We are also focusing on children who are left behind. Data shows that children with disabilities are mostly left behind and are not counted or brought back to school. We are working towards developing a national framework for inclusive education.

We will continue our efforts on the use of NLP. In 2023, we will have reached about 750,000 children, so the goal is to reach another 750,000 in 2024. So these are a couple of things that we will keep on doing.

What states have you worked with to

the national commitment made by Nigeria at the 2022 Transforming Education Summit, to increase the allocation to primary education to 29 to 45 per cent in alignment with the global benchmark to accelerate access to primary education.

What advice do you have for the government on funding?

The Nigerian government needs to ensure quality education for the children.

What are your expectations for your project this year?

Due to the sheer volume of children in this country, every year, millions of children lack the basic right to education, and the numbers keep growing. So there will be a huge number of children who will not be able to come to school. Our expectation is that all children can be brought back to education, both formal and informal. The government takes ownership, accountability and responsibility at the national and international levels. So recently, we have also worked with the government to develop a roadmap that focuses on access to and quality of education in Nigeria.

and we have seen the results, so this gives us confidence that we can bring the children back to school. At the same time, a lot of these issues are deep-rooted because society does not really value girls. This is one of the reasons why they don’t go to school. Technology is another reason.

We are working with the communities to address the importance of girls’ education. Through our other programmes, such as social policy, we are also working with the government on cash transfers to some families living below the poverty line so that their children can come to school rather than allow them to work on the farms or resolve to begging. We also work with the almajiris; a lot of the children have been brought back to school through our initiative.

We have created a curriculum that will make them come back to school. Sometimes, they continue with their Quranic school and at the same time, we allow them to have basic education on numeracy and literacy.

UNICEF has also been involved in documenting childbirths and raising awareness on vaccinations. What is your assessment of the efforts you have put in place in the past on these?

As an organisation that promotes the convention of the rights of the child, one of the basic principles is the survival of children. Vaccination is one of the main instruments or tools used in saving the lives of millions of children around the world.

For us, it is one of the tools that has worked to save children from vaccine-preventable diseases.

That is why it is part of the basic right of the child to get vaccination, as it allows them to survive. So it is really important for us that in Nigeria, more than two million children who have never received any vaccine be vaccinated.

What happens when they are not vaccinated?

They may die due to some of these preventable diseases or become disabled. For instance, polio is one of the vaccine-preventable diseases. So vaccination is very important for us. There is a need for a child to live a healthy and productive life. We have been working with different communities, local government areas, and state-level counterparts to vaccinate the children. In 2023, our efforts led to the introduction of a vaccine that can fight against five diseases and about 250,000 children were vaccinated within one year. We are doing a study in some of the areas to help us understand why some parents were not bringing their children for vaccination. So, we need to understand the community attitudes, the barriers and the information that will inform our strategy.

Do you have any specific time frame for your projects, and how much investment are you looking at from the government?

UNICEF is advocating with the government in developing an evidence-based roadmap to progressively increase domestic spending on education from 1.2 per cent (15-20 per cent of total public expenditure) by 2030 to align with

Most schools resumed this week for a new academic session. What is your advice?

Parents should enrol their children in schools but ensure they continue to study because a lot of them enrol but drop out. The state-level government should also ensure a conducive environment with proper teachers with the right training to teach in the schools.

Dr. Khan take out-of-school children back to school?

We have supported 12 states, including Lagos, Bauchi, Adamawa, Bornu, Kaduna, Gombe, Jigawa, Kano and Yobe, Kano and Kebbi and Zamfara states.

What efforts are you putting in place to ensure the security of the children aside from just putting them in classrooms?

We have been working with the SBMC of the schools and developed a document that will help them in these challenges, like ensuring the safety and security of the children. We also encouraged them with online education and work with traditional and religious leaders to make the school safe for children. Sometimes, there are areas that constitute a challenge for us. School safety is one of the areas we look into, and sometimes, there is a bit of violence in schools, so we provide guidelines to the SBMC on how to address those issues.

Why do you consider these efforts as important?

We consider them as important based on evidence. We started on a small scale,

Lagos Lawmaker, Ipesa-Balogun, Gives Scholarships to Students A member of the Lagos State House of Assembly, Afeez Ipesa-Balogun, has concluded plans to award 25 scholarships to students in public secondary schools in the state next month to mark his 60th birthday.

He said the scholarships are designed to stimulate youths’ interest in studying the country’s Third Republic’s contemporary political history and beyond.

“To that effect, the first 25 students in Lagos

State public secondary schools to correctly answer six quiz questions will be rewarded with N50,000 each in scholarships,” said Ipesa-Balogun.

All the quiz issues and answers are in a yet-to-be-launched book, ‘Afeez Ipesa-Balogun: Mr Speaker... Exploration of The Archives’. The book chronicles his unique political journey, capturing the story of progressive politics in Lagos

State over the last 30 years.

It is also an insider’s account of what is today the most powerful movement in Nigeria, largely the political family of President Bola Ahmed Tinubu.

The book’s public presentation is scheduled for February 6, after the emergence of the quiz winners at the Nigeria Institute of International Affairs, Victoria Island, Lagos.

Also, there will be a jummat prayer Service

on February 9, 2024, at the Masjid Monsurat Ipesa-Balogun, Awoyaya, Ibeju-Lekki, Lagos, a Mosque built in honour of his late wife.

The celebrations will be rounded off on February 10 with a charity walk to end with free medical services and distribution of foodstuffs to community members at the Oshodi/Isolo LG Secretariat, Oyetayo Street, Oshodi.

Ipesa is a licensed aircraft maintenance engineer and former chairman of Oshodi Isolo/ LGA.

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CITYSTRINGS

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

Exploring Nigeria’s Creative Economy Through the Lens of Content Creators

The Digital Creative Economy in Nigeria has experienced galvanic growth and shows tremendous prospects. The COVID-19 lockdown produced many content creators who have become influencers, creating economic fortunes for themselves, their families and the larger society. Incidentally, the StoryStoryHub campaign, initiated by Playhouse as part of its 12th Anniversary activities, is playing up the role and impact of the Creative Digital Economy in Nigeria, with an emphatic focus on the stories of digital creatives who have combined their talent and the power of digital media to bring forth great changes in their lives and those of their families, drive commercial growth, and rewrite the digital economy narrative of Nigeria.

These individuals have taken content creation as their full-time business, operating what can be termed a ‘creator economy’. Writes Mary Nnah

Exploring Nigeria’s Creative Economy Through Content Creators

M

otivated by the barefaced impact of the Digital Creative Economy, Playhouse Communications, a premier digital communications agency passionate about creating digital connections between brands and their audiences, launched an innovative initiative tagged, ‘The StoryStoryHub’.

This trail-blazing campaign seeks to predominantly explore the impact of the burgeoning digital creative sector on the Nigerian economy. Essentially, it is intended to emphasise the enormous economic roles of the creator economy and highlight how digital creatives, like skit makers and content creators, have flourished through the instrumentality of digital media.

Managing Director/Chief Executive Officer of Playhouse, Mr. Tolu Onile-Ere, explained: “We are embarking on the StoryStoryHub initiative centred on the Digital Creative Economy in Nigeria. We launched this campaign to celebrate everything good about the digital economy in Nigeria. This campaign aims at making Nigerians aware of the tangible benefits of the digital economy in their daily lives. While the use of social media in Nigeria is commonplace, not everyone understands just how important it is to the common man’s life.

This campaign is set to change that”.

The StoryStory Hub campaign featured a renowned name in Nigeria’s skit-making space, Broda Shaggi, a popular Nigerian Skitmaker whose real name is Samuel Animashaun Perry.

Broda Shaggi is known for his hilarious skits, often featuring his signature character, a clueless street urchin. In addition to his comedy career, he is also a successful actor, having appeared in several films and television shows.

Broda Shaggi comes from a humble background but has etched his name in the mind of almost every Nigerian. From the squalid Makoko axis in Lagos, he leveraged his aptitude for creating humorous content to become a social media sensation and has now delved into other entertainment areas like acting, as he has featured in many top-grade movies.

In his StoryStoryHub episode, Broda Shaggi narrated his trajectory as a content creator: “I wasn’t born with a silver spoon. So, when I lost my dad, my mom and I had to relocate to Makoko, a very rugged area in Lagos. I had to rely on my talent - singing, drumming, dancing and acting- just to make ends meet and to finish my programme at the University of Lagos. It wasn’t easy. I said to myself, all these talents can’t go to waste. So, I started posting my skits on Instagram and Facebook and my following started growing gradually. Now, I have 12 million followers on Instagram and 9 million followers on Facebook. Since I joined these platforms, I

Playhouse Communications CEO, Onile-Ere have been making money.’

Broda Shaggi who revealed that this has impacted not only him but his family, friends and well-wishers, urged other young people to do the same, adding, ”Have such an impact for yourself. I want you to know that you have a talent. So, share your talent in the form of content on social media platforms, and with God’s grace, consistency and hard work, you will become a better version of yourself and make an impact”.

Broda Shaggi ’s story simply accentuated how powerful social media platforms are, especially when you are consistent.

From skit-making, he transitioned into starring in tier-one movies, not forgetting the inroads he has made in brand promotion, ambassadorship deals and job creation, which have an immensely positive effect on the larger Nigerian economy.

Similarly, Tricia Olufemi-Olumide, known as Triciabiz on social media, has grown to become a prominent personage in Africa’s entrepreneurship. Founder of Ziba Beach Resort, a boutique resort in Lagos, Tricia is a marketing strategist, launch expert, business coach and Angel

Investor. Still, she started online, creating videos to teach people how to build an online business and make money.

She said in her beginning years, she was discouraged by several people who told her to get a job, but she persisted with determination and garnered momentum over time, impacting millions of people across the globe through her content. Now, she has invested in other sectors, including tourism, where she also contributes to solving the challenge of unemployment.

In her StoryStory Hub episode, she relayed: “I moved from being an online teacher to becoming a beach resort owner. You never know how your story will evolve. You just need to use the tools in front of you to get to your destination.

I started as a teacher, sharing my knowledge and experience online, but I knew I wanted to do more, and I eventually used the profits from my knowledge business amongst others to build Ziba Beach Resort. To those who feel the online business is a joke, well, look where we are now”.

In the same vein, Eric Okafor, with the social media handle ‘Knewkeed’, is another content creator whose journey of impact in the Creative Digital Economy is stimulating. Okafor’s tech content creation was inspired by a regular recording of a phone unboxing session which he did with his boss in 2015.

"That video with my boss was my first unboxing video. A year later, I quit my job. In 2017, I decided I was going to do content creation full-time, with a 5000 naira mat and a mini-tripod. The set-up was 10,000 naira. I relied mostly on sunlight.

With consistency, brands started to reach out. I started getting contracts, gigs and retainers from agencies for content creation. I also started travelling around the world, creating content. One good turn deserves another. In my little way, I gave back to my alma mater- Kings College- but what I am most proud of is using my influence to set up a younger creator for life. In record time, my dream is to make younger stars shine”, he noted.

With a cumulative following of 248,000 on Instagram, Facebook and the X app, Knewkeed is leading the charge for young tech content creators

This trail-blazing campaign seeks to predominantly explore the impact of the burgeoning digital creative sector on the Nigerian economy. Essentially, it is intended to emphasise the enormous economic roles of the creator economy and highlight how digital creatives, like skit makers and content creators, have flourished through the instrumentality of digital media

and driving growth for businesses through strategic content marketing, which is also helping to develop the Digital Creative Economy.

Another content creator that was featured in the StoryStoryHub series is Muaz Muh’d, well known as ‘Bushkiddo’.

His story: “About 9 or 10 years ago when I finished NYSC. One day, I came across an American comedian who does skits in just 15 seconds. I was impressed. That was what propelled me to start creating content. I started alone with my phone and the dedication to create something similar in Hausa. After a while, my videos started gaining traction. Brands started paying me to create content for them. Family and friends came in and we became a team. That’s how we’ve made it this far”.

Riding on a social media (Facebook, Instagram and the X app) following of over 891,000, Bushkiddo significantly impacted his friends, family and businesses, translating to positive results for the Nigerian economy.

Also, Jennifer Onyekwelu, famously known as Jenni-frank in the social media community, partook in the StoryStoryHub campaign. Jenni-frank creates entertainment content and has grown her followers from zero to 808,000 on Instagram and over 4,000,000 on TikTok. Those numbers speak of consistent diligence! She has monetised what started as a pastime and now connects brands with their audiences through enjoyable, educative content. She stressed how content creation has economically empowered her and the people around her, putting her in a position to create jobs for fellow Nigerians.

An influencer, actor and TV show host, Jennifrank shared her story: "Rising from the streets of Onitsha to where I am today is a story, I am willing to tell over and over again. I started creating content with just my phone and natural sunlight. Thanks to the impact of social media which has played a huge role in making me grow and impacting me positively. I have been able to bridge the gap between brands and consumers.

I have also created a new market. Social media has played a huge role in building community, showcasing talents and connecting people from different parts of the world. And the best part is that it is accessible and the money is there".

In conclusion, the StoryStoryHub campaign, initiated by Playhouse as part of its 12th Anniversary activities, is playing up the role and impact of the Creative Digital Economy in Nigeria, with an emphatic focus on the stories of digital creatives who have combined their talent and the power of digital media to bring forth great changes in their lives and those of their families, drive commercial growth, and rewrite the digital economy narrative of Nigeria.

31

T H I S D AY • WEDNESday JANUARY 10, 2024

CITY STRINGS

Culture as Tool for Revamping the Economy, Strengthening the Naira Segun Runsewe

T

here has been no time in the socio-economic evolution of Nigeria that the naira, the nation’s national currency, has been under such a severe pressure than as it is today. With the exchange rate of one US dollar to less than one naira in the 70s, the exchange rate of the naira to the dollar today has risen beyond 1,000 to one US dollar.

This phenomenal fall in the value of our currency beginning, from the Structural Adjustment Programme (SAP) Regime, till today, has continued to negatively impact on all spheres of our national life, challenge our cultural values and call for a comprehensive value re-orientation.

As a free market economy, the value of our nation’s currency would ultimately be determined by the market forces of demand and supply. This has implication on our level of consumption of foreign goods and services and by extension, our values.

In those days when the naira commanded remarkable economic power at the global market, our values were right; our attitudes were positive and our personal dispositions were supportive of our developmental aspirations.

We were a nation committed to agriculture as the mainstay of our economy while aggressively embarking on solid mineral exploration to drive a diversified economy. We were a people imbued with positive sense of purpose and productive hardwork was our national work ethics and our unique selling point.

We were proudly Nigerians in our attitude to work, in our consumption, our dress culture and in all that we did.

We witnessed relative economic stability, social harmony and development because we believed in and espoused the tenets of our culture.

Today, the story is different. We have thrown our cherished cultural values overboard. In place of hardwork, we have embraced laziness, idleness and the get-rich-quick syndrome. We are no longer proud of our rich cultural values and their diverse manifestations. For example, we have relegated the Nigerian fabrics which projected our cultural identity in the yesteryears and sustained a booming garment industry, for foreign dresses like the French suits, Holladian fabrics and Senegalese attires.

It is now fashionable for our educational institutions even at the elementary level to import school uniforms to educate our children away from our culture, both in content and in form. Our educational curriculum has become largely alien and non-reflective of our socio-cultural background.

It is unfortunate that today, we export Nigerian hide and skin to Italy and Spain only to import Italian and Spanish shoes made with Nigerian raw materials. Aba made shoes has lost domestic patronage except when exported to Dubai and imported into Nigeria with the brand “made in Italy”.

China has made alarming in-road into the Nigerian traditional fabric industry and imported Chinese tie and dye originally rooted in Osogbo culture is now in vogue in Nigeria. The story is endless.

There can be no sustainable economic development when the values and orientation of the citizenry are at variance with the culture on which the society is founded and where the general pattern of consumption are conspicuously alien and brazenly extravagant.

For us to attain economic growth and the stability of the naira therefore, we must return to our cherished cultural values and harness our cultural resources to engender national development.

Examples abound of nations who utilised their cultural strength to enhance the developmental process. It took men

Runsewe

and women of vision, courage and commitment to conceive, pursue and realise the American vision rooted in the firm belief in America as a virgin continent magnificently endowed by nature.

With a strong culture of patriotism and commitment to the growth of America, the USA rose from the ashes of a people with diverse ethnic nationalities, ravaged by a civil war and racial segregation to become the world’s foremost super-power.

Those who crafted the American dream upon which the continent was born were not angels from above. They were Americans who believed in the vision of a great continent and patriotically committed themselves to ensuring that the vision became a workable reality. Today, when America sneezes, the rest of the world catches cold.

China presents another example of a people who believed in themselves and looked inward to collectively reinvent their nation. From the dark trenches of the global depression of the 1930s through the Sino-Japanese war of 1937 to the Great Leap forward and the famine 1957, China has emerged the second largest economy in the world, with firm belief in their history, culture and heritage.

India, like Nigeria, was a British colony. Unlike Nigeria however, India has used the scientific and technological expertise of Western education to develop its nation, holding jealously on to the Indian cultural heritage.

They dress Indian, eat Indian, talk Indian and live Indian.

In view of the proven capacity of the cultural sector to contribute significantly to the Gross Domestic Products, most nations of the world are developing strategies to integrate and mainstream cultural products to the process of economic development. Nigeria is unarguably the most culturally diverse nations in Africa, rich in various cultural products.

It offers a unique opportunity for artistry, craftsmanship and entrepreneurial skills that can be developed, showcased and marketed to derive a robust cultural industry. A rich cultural industry in Nigeria will no doubt speed up our diversification drive, engender rapid socio-economic growth and development and lead to a strong and stable Nigerian currency at the international market.

It is in the light of the foregoing that the National Council for Arts and Culture (NCAC) under my leadership is vigorously pursuing cultural programmes that will open up the industry; unbundle, harness and develop latent skills talents and capacities that would lead to the emergence of a vibrant cultural economy for Nigeria.

In the last six years, the NCAC under my leadership has executed skills acquisition programme through the platform of the National Festival of Arts and Culture (NAFEST) and the International Arts and Crafts (INAC) Expo.

In these and several other programmes, over ten thousand Nigerians, especially women, youths and the physically challenged, have been trained and given start-up grants. We have successfully ingrained skill acquisition in metal production, hair weaving, wood carving, local fabric making, soap and bead making among others, into our flagship programmes.

To open our cultural industry to the international market, we have continued to run INAC with the theme “Networking Nigerian Crafts to the World” while

It is in the light of the foregoing that the National Council for Arts and Culture (NCAC) under my leadership is vigorously pursuing cultural programmes that will open up the industry; unbundle, harness and develop latent skills talents and capacities that would lead to the emergence of a vibrant cultural economy for Nigeria

targeting members of the Diplomatic Community as our primary audience.

This effort is deliberate because foreign trade enquiries starts from the embassies in the host countries.

For us to have an in-road into the global cultural market, we must cultivate the attention and partnership of members of the diplomatic community while honing our skills and enhancing our design, finishing, packaging and presentation to meet global market standard. It is through product improvement that we can raise the value of our arts and crafts industry to become truly attractive and earn the confidence of the international consumers necessary for a robust cultural economy that can create employment and wealth for our nation.

Accordingly, we have introduced the concept of comparative advantage in our efforts to tap into the cultural uniqueness of the respective states through the 37 wonders of Nigeria. This programme is anchored on the economic policy of one state, one product. In the efforts to expand the frontiers of our cultural industry, we cannot afford to be in competition but in active collaboration and complimentary. The 37 wonders of Nigeria was launched by the Executive Governor of Lagos State, His Excellency, Mr. Babajide Sanwo-Olu during the National Festival of Arts and Culture in Lagos last year with the emphasis on one state, one product.

The cultural wonders of Nigeria is a brand identity and marketing concept premised on peculiar tangible manifestations and intangible expressions unique to the 36 states of the federation and the Federal Capital territory (FCT). Each of these constitutes the wonders of natural endowments or amazing evidence of human creative interactions.

Together, they have evolved to become iconic emblems of Nigeria tourism destinations and technological processing. For example, the Zanna Cap of Borno, the Akwa-Ocha dazzling white traditional woven fabric of Delta State, the queen India head of Benin, Edo State, the Ikogosi Water Spring of Ekiti, the Nok Culture of Kaduna State, the Dye Pits of Kano, the Itoguntoro traditional weaving heritage of Kogi State, the Dada pottery of Kwara State, the brass works of Niger State, to mention but a few have all assumed unique cultural brands that can be enriched, repackaged and aggressively promoted as aspects of Nigerian cultural brands at the international market place.

In addition to the above, Nigeria is one of the richest countries of the world in terms of cultural festivals. Our fascinating cultural festivals and dance include Ohafia war dance in Abia State, Ekwobi dance in Cross River State, the Nwa Umu-Agbogho of Ebonyi State, the Odo Masquerade festival of Enugu State, the Eyo Masquerade of Lagos State, Argungun Fishing festival of Kebbi State, the Osun Osogbo festival of Osun State, Igwe festival of Edo State, the boat regatta of Rivers and Bayelsa States and so on.

These festivals can be repackaged into a cluster and a national festival calendar evolved to ensure that tourists in search of leisure and festival entertainment can experience several of these festivals in a particular cluster during one visit.

I therefore wish to call on all stakeholders and key players in the arts and culture sector to begin to apply their energies towards optimising the huge potentials in our vast arts and culture sector. It is my hope that if our cultural resources are carefully harnessed and productively channeled, it will open up our cultural economy, engender rapid socio-economic growth and lead to the emergence of a strong and stable currency that will command the required purchasing power at the international market.

-Runsewe, is the Director General, National Council for Arts and Culture (NCAC).

32

T H I S D AY

WEDNESday, JANUARY 10, 2024

business/MOnEYGUIDE

NIPC Seeks to Audit Pioneer Incentive Regime to Boost Impact on Economy

James Emejo in Abuja

The Nigerian Investment Promotion Commission (NIPC) has said efforts are underway to conduct an impact assessment of companies that have so far benefitted from the federal government’s pioneer incentive programme.

The commission’s Head, Incentives Administration, Lovina Kayode, said it would evaluate the extent to which the beneficiary companies have supported job creation which is part of the conditions for granting tax rebate to companies under the scheme.

She said the incentive programme remained a laudable initiative only if he beneficiary firms make the desired impact in the economy.

Speaking during a press briefing, sh said 34 firms had benefitted from the incentives regime over the past two years.

Kayode, however, noted

that the commission was being cautious on granting further incentives to companies that will make no impact, hence the need to review the policy to make the programme more impactful going forward.

The Pioneer Status Incentive was established by the Industrial Development (Income Tax Relief) Act, No 22 of 1971 and is a tax holiday which grants qualifying industries and products relief from payment of corporate income tax for an initial period of three years, extendable for one or two additional years.

She said the scheme was also an instrument for attracting more investments into the country.

She said, “The process is stringent because our parent ministry and the Federal Inland Revenue Service are involved to make sure the right investors

get this incentives.”

According to her, in 2023, the commission approved tax holidays for 34 companies seeking tax incentives and waivers under the Industrial Development Income Tax Act. She said tax incentives, which had been a contentious issue due to the high amount of revenue lost to waivers granted every year, were meant to boost foreign investments into the country.

She said the process is stringent because our parent ministry and the FIRS are involved to make sure the right investors get the incentive.

She said, “However, tax expenditure which means what the government has lost by granting pioneers status incentive is just a small amount compared to what the country gains by granting these incentives to qualified companies.”

MARKET INDICATORS

AIICO Insurance Marks 60thAnniversary,Applaud Customers’ Loyalty Ebere Nwoji Managing Director and Chief Executive Officer AIICO Insurance, Plc, Mr. Babatunde Fajemirokun has attributed the successes achieved by the company in its 60 years of existence in the ever competitive Nigerian insurance market to the continued loyalty of its customers as well as the resilience and relentless spirit of the employees.

Fajemirokun who stated this at the 60th anniversary of the company held in Lagos said AIICO Insurance is as old as Nigeria as a nation.

Drawing a parallel between Nigeria and the company, both

of which came into existence around the same time, Fajemirokun highlighted that both entities have weathered and survived turbulent times, demonstrating growth and resilience.

“AIICO, born in the heart of Nigeria, has been a witness and a participant in this nation’s remarkable journey. We’ve grown amidst the oil boom’s promises of the 1970s and adapted during the economic downturns of the 1980s. Our strength was tested during the periods of military rule and the struggle for democracy, yet we emerged stronger, demonstrating the same resilience that defines

our nation.”

“In these six decades, AIICO has not only survived but thrived, adapting to changes, overcoming challenges, and seizing opportunities. Our growth mirrors the indomitable spirit of Nigeria - a spirit of perseverance, innovation, and a relentless pursuit of excellence,” he said.

The AIICO Insurance boss urged employees to continue to innovate, serving its community and contributing to Nigeria’s growth.

Highlights of the event included the presentation of awards to recognised and reward top performers in the organisation.

MONEY AND CREDIT STATISTICS (MILLION NAIRA) August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

Leadway Assurance Announces Leadership Transitions

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

Ebere Nwoji

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

Leadway Assurance Company Limited, has announced change in its leadership in line with the regulatory requirements of the National Insurance Commission (NAICOM).

Following NAICOM’s guidelines on tenure limits for executives, the company recently appointment Mr. Gboyega Lesi as the acting Managing Director, effective January 1, 2024.

The company however said the appointment is subject to the requisite regulatory approval from NAICOM. It said the move is a testament to commitment to sustaining the highest stan-

dards of corporate governance and adherence to regulatory directives.

The Board expressed confidence in Lesi’s leadership capabilities, underpinned by his close collaboration with Mr. Tunde Hassan-Odukale the erstwhile Managing Director over the years.

Commenting on the appointment of his successor, Tunde stated, “I am confident in Gboyega Lesi’s leadership, and I believe his expertise and experience in the industry in almost three decades will be instrumental in steering the company towards continued success and growth across the West African insurance market.

He said Lesi, a seasoned

professional with a wealth of experience, is well positioned to lead the company into its next phase of growth.

His strategic vision and deep understanding of the industry make him an ideal successor to guide Leadway Assurance on its trajectory of sustained success,” Hassan-Odukale added.

Reflecting on his appointment, Lesi said: “It is an honour to assume leadership of this esteemed company during such a pivotal time. Our robust growth over the years is attributed to our values, a customer-centric culture, and an engaging approach that sets us apart.”

Application Opens for Asiodu Secondary School Essay Competition Philip Asiodu Institute inaugural secondary school essay competition has commenced for applicants.

The competition with theme: “Encouraging Patriotism and Nurturing Nigerian Leaders of Tomorrow”, is now open to secondary students in across the country.

A statement signed yesterday

by P.C. Asiodu on behalf of Philip Asiodu Institute, said that the competition, “aims to identify and encourage young talents while providing the winners with valuable mentorship and support in order to make a

significant impact on the future of Nigeria.”

The Philip Asiodu Institute is dedicated to nurturing and empowering future Nigerian leaders, among others. The competition is open to all secondary school students across Nigeria, who are encouraged to participate and showcase their writing talents. A representative of the competition team, ‘Yemi Adeyemi-Enilari added that those interested in participating visit the official website.

This essay competition which officially start on the 28th of December 2023 is open to all

secondary school students across Nigeria, who are encouraged to participate and showcase their writing talents.

The essay topics will revolve around the theme of patriotism, exploring various aspects such as the importance of unity, diligence, integrity and discipline. Apart from the recognition and appreciation received, the winners of the competition will be honoured with valuable prizes. These prizes will not only empower the winners themselves but also contribute to the development of their respective schools.

• Source - CBN

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 29th September , 2023

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), 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).

T H I S D AY •WEDNESday, JANUARY 10, 2024

33

mARKET NEWS

Vetiva Fund Managers Rebalances Exchange Traded Fund Suite Kayode Tokede Vetiva Fund Managers Limited, yesterday announced the rebalancing of the Vetiva Exchange Traded Fund (ETF) Suite in line with the bi-annual review of the Nigerian Exchange Limited (NGX) Indices which include, but are not limited to, the NGX 30, NGX Banking, NGX Consumer Goods and NGX Industrial Indices.

Exchange Traded Funds (ETFs) are securities that replicate/ track the performance of an underlying index, commodity or basket of assets.

In a statement issued by Vetiva Fund Managers Limited, it was stated that the weights of the security components of the NGX 30 Index, NGX Consumer Good Index and the NGX Industrial Index were adjusted with no

P R I C E S MaiN Board

F O R DEALS

changes to the individual securities.

However, for the NGX Banking Index, the rebalancing reflected that: FBN Holdings Plc, FCMB Group Plc, Guaranty Trust Holding Company Plc (GTCO) and Stanbic IBTC Holdings Plc are the incoming stocks, while Jaiz Bank Plc, Unity Bank Plc and Wema Bank Plc are the outgoing stocks.

In line with this, Vetiva’s

S E C U R I T I E S Market Price

quantity traded

Equity ETFs are typically rebalanced accordingly to reflect the NGX Indices, as changes to components and weights of the underlying indices will typically require corresponding adjustments to the ETF portfolios, to ensure the objective of tracking the price and yield performance of the relevant indices.

Vetiva’s ETF Suite comprises of the Vetiva Griffin 30 ETF, Vetiva Banking ETF,

T R A D E D

value traded ( N )

MaiN Board

A S O F

Vetiva Consumer Good ETF, Vetiva Industrials ETF and the Vetiva S&P Nigerian Sovereign Bond ETF which tracks the performance of the NGX 30 Index, NGX Banking Index, NGX Consumer Goods Index, NGX Industrials Index and the S&P/FMDQ Nigeria Sovereign Bond Index respectively. The ETFs trade like any other listed stock on the Stock Exchange (NGX) and units of the ETFs

J A N U A RY DEALS

can be purchased on the floor of the Exchange through any broker.

Speaking on ETFs and the ETF rebalancing, the Portfolio Manager, Exchange Traded Funds at Vetiva, Ms. Jesusetuntun Ajagun, said, “Investing in ETFs offers investors the opportunity to easily express their investment objectives using a single security comprising several underlying assets”.

/ 9 / 2 4 Market Price

quantity traded

value traded ( N)

34

WEDNESDAY, JANUARY 10, 2024 • T H I S D AY

Wednesday, January 10, 2024

Thisday

Afrinvest Index up 5.3% Thisday Afrinvest 40 index gained 5.3% to close at 4435.01

THISDAY AFRINVEST 40 INDEX

index points following price appreciation in MTNN (+3.5%), GTCO (+9.5%), and ZENITH (+10.0%). Cumulatively, these

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

stocks account for 25.8% of the index.

Bulls Extend Dominance… ASI up 3.6%

Ticker

Current Price

Previous Price Change

Current Price Change Weighting YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

THISDAY AFRINVEST 40

4435.01

5.28%

87.8%

343.5%

14.1%

3.2%

6.9x

1.6x

Divindend Earnings Yield Yield

3.4%

Yesterday, the domestic bourse gained 3.6% to close at 83,191.84 points, buoyed by price increase in major bellweathers including DANGCEM (+3.7%), MTNN (+3.5%), and BUAFOODS (+5.6%). As a result, YTD improved 3.9ppts to 11.3% (previously 7.4%), while market capitalisation gained ₦1.6tn to ₦ 45.5tn. Activity level firmed up as volume and value traded increased 18.5% and 61.8% to 1.4bn units and ₦24.7bn respectively.

Bullish Sector Performance Performance across sectors within our purview was bullish as five indices gained while one lost. The Banking and Insurance indices rose 8.2% and 6.4% respectively, driven by gains in ZENITH (+10.0%), GTCO (+9.6%), AIICO (+9.5%), and MANSARD (+5.8%). Likewise, the Industrial and Consumer Goods indices gained 4.0% and 2.5% respectively, due to buy interest in DANGCEM (+3.7%), WAPCO (+9.2%), BUAFOODS (5.6%) and DANGSUGAR (+4.3%). Following, the AFRͲICT index rallied 1.5% on the back of price appreciation in MTNN (+3.5%) and OMATEK (+9.1%). Conversely, sell pressure on TOTAL (Ͳ10.0%) dragged the Oil & Gas index down by 2.3%.

Outlook Investor sentiment, as measured by market breadth, improved to 1.6x from 0.7x in the prior session as 72 stocks T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s

gained, 13 declined while 38 closed flat. Today, we expect the T ic k er

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

M B EN EF IT

0.77

10.0%

F ID ELIT YB K

141.7

4.5%

FB NH

28.60

10.0%

FCM B

129.0

9.9%

Corporate Action

GUIN EA IN S

0.44

10.0%

UB A

117.7

9.0%

C A D B UR Y

18.15

10.0%

T R A N SC OR P

108.3

2.8%

Cadbury Nigeria Plc today notified the exchange and the in-

F T N C OC OA

2.20

10.0%

A C C ESSC OR P

85.2

8.4%

UN ILEVER

18.15

10.0%

ST ER LIN GN G

63.9

9.9%

UN IVIN SUR E

0.33

10.0%

VER IT A SKA P

49.0

7.9%

Z EN IT H B A N K

47.35

10.0%

J A P A ULGOLD

46.2

-1.5%

WEM A B A N K

8.92

10.0%

Z EN IT H B A N K

45.6

10.0%

IN T B R EW

5.29

10.0%

GT C O

45.1

9.5%

market to extend the bullish run, due to upbeat investor sen-

timent.

vesting public of an EGM slated for Friday 12th January 2024, to seek sareholders approval to convert its outstanding $7.7m liabilities to its parent company– Cadbury Schweppes Overseas– to equities of about 402.1m units to bring the parent company’s holdings to 79.4%.

Also, ACCESSCORP Plc announced that Access Bank Zambia has successfully acquired African Banking Corporation Zambia

T ic k er

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

T o p 10 L o s e r s

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

T OT A L

346.50

-10.0%

UB A

3778.5

9.0%

1.06

-9.4%

A C C ESSC OR P

2525.5

8.4%

-8.5%

GT C O

2144.4

9.5%

2122.4

10.0%

D A A R C OM M R T B R ISC OE

0.65

SUN UA SSUR

1.20

-7.7%

Z EN IT H B A N K

P R EST IGE

0.50

-7.4%

F ID ELIT YB K

1965.3

4.5%

the footprint of the lender in the East African market.

T H OM A SWY

2.50

-6.4%

T R A N SC OR P

1575.8

2.8%

C H A M P ION

3.80

-5.0%

FCM B

1485.4

9.9%

C WG

7.95

-4.2%

M TNN

669.1

3.5%

UP D C R EIT

7.00

-3.4%

FB NH

656.1

10.0%

F ID SON

17.90

-3.0%

ST A N B IC

546.4

4.2%

Limited (Atlas Mara Zambia). This acquisition further expands

Afrinvest West Africa Limited

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

9.3%

35

WEDNESDAY, JANUARY 10, 2024 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 08Jan-2024, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.79% AIICO Balanced Fund 5.32 5.44 5.71% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.00% Anchoria Equity Fund 213.08 215.89 10.14% Anchoria Fixed Income Fund 1.32 1.32 3.01% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A ARM Short Term Bond Fund N/A N/A N/A AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.1 106.1 6.93 AVA GAM Fixed Income Naira Fund 1,177.92 1,177.92 10.51 AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 2.24 2.24 10.20% CEAT Fixed Income Fund 3.20 3.28 231.57% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.02 1.02 10.01% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 29.36854742 29.99608771 11.02% Women's Investment Fund 235.13 238.94 6.51% CHD Nigeria Bond Fund 102.64 102.64 9.43% CHD Nigeria Dollar Income Fund 1.04 1.04 9.09% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.09% Cordros Milestone Fund 182.88 184.26 5.76% Cordros Fixed Income Fund 107.80 107.80 4.76% Cordros Halal Fixed Income Fund 109.62 109.62 9.37% Cordros Dollar Fund ($) 114.55 114.55 5.76% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 11.53% Coronation Balanced Fund 1.61 1.63 5.41% Coronation Fixed Income Fund 1.43 1.43 2.55% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Dollar Fund N/A N/A N/A FBN Smart Beta Equity Fund N/A N/A N/A FBN Specialized Dollar Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.00% Legacy Debt Fund 3.58 3.58 -1.28% Legacy Equity Fund 2.96 3.02 6.65% Legacy USD Bond Fund 1.32 1.32 4.15% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A Coral Money Market Fund N/A N/A N/A FSDH Dollar Fund N/A N/A N/A

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 20.21 20.39 10.06% Meristem Money Market Fund 10.00 10.00 12.93% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) N/A N/A N/A Norrenberger Money Market Fund (NMMF) N/A N/A N/A Norrenberger Dollar Fund (NDF) ($) N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.49 2.53 7.13% PACAM Fixed Income Fund 12.02 12.26 27.96% PACAM Money Market Fund 10.00 10.00 0.00% PACAM Equity Fund 2.36 2.39 9.36% PACAM EuroBond Fund 131.13 134.32 -0.60% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund N/A N/A N/A SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund N/A N/A N/A STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 5,244.63 5,291.54 5.35% Stanbic IBTC Bond Fund 256.05 256.05 3.40% Stanbic IBTC Ethical Fund 2.20 2.23 7.00% Stanbic IBTC Guaranteed Investment Fund 355.12 355.29 0.53% Stanbic IBTC Iman Fund 402.49 407.56 6.71% Stanbic IBTC Money Market Fund 1.00 1.00 11.27% Stanbic IBTC Nigerian Equity Fund 20,325.45 20,588.55 12.09% Stanbic IBTC Dollar Fund (USD) 1.47 1.47 6.87% Stanbic IBTC Shariah Fixed Income Fund 128.49 128.49 6.06% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 126.19 126.19 8.35% Stanbic IBTC Absolute Fund 5,023.38 5,023.38 9.35% Stanbic IBTC Aggressive Fund 6,080.60 6,156.09 13.01% Stanbic IBTC Conservative Fund 5,557.76 5,587.84 5.19% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.54 1.56 13.59% United Capital Balanced Fund 1.99 2.00 7.61% United Capital Wealth for Women Fund 1.53 1.54 7.25% United Capital Sukuk Fund 1.18 1.18 9.31% United Capital Fixed Income Fund 1.95 1.95 7.51% United Capital Eurobond Fund 124.47 124.47 5.30% United Capital Global Fixed Income Fund 1.09 1.09 10.12% United Capital Money Market Fund 1.00 1.00 9.30% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund N/A N/A N/A Zenith ESG Impact Fund N/A N/A N/A Zenith Income Fund N/A N/A N/A Zenith Money Market Fund N/A N/A N/A VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund N/A N/A N/A Vetiva Consumer Goods Exchange Traded Fund N/A N/A N/A Vetiva Griffin 30 Exchange Traded Fund N/A N/A N/A Vetiva Money Market Fund N/A N/A N/A Vetiva Industrial Goods Exchange Traded Fund N/A N/A N/A Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund N/A N/A N/A

REITS

NAV Per Share

Yield / T-Rtn

N/A 59.38 101.79 10.06

N/A 12.00%

Bid Price

Offer Price

Yield / T-Rtn

N/A 550.00 571.35 25.02 38.73

N/A 550.00 571.35 25.41 39.19

N/A 10.00% -20.31% 6.46% 2.86%

NAV Per Share

Yield / T-Rtn

108.40

N/A

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT

EXCHANGE TRADED FUNDS

Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

I N F R AST R U CT U R E F U N D

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

4.55%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

36

WEDNESDAY, JANUARY 10, 2024 • T H I S D AY

NEWS

SANWO-OLU Holds Send-off reception in honour of Super Eagles...

Lagos State Governor Babajide Sanwo-Olu and his wife, Dr. Ibijoke Sanwo-Olu, flanked by Super Eagles players at a send-off reception in honour of the team at the Lagos House, Marina.

Army Chief: Soldier Who Made Derogatory Remarks About Sanwo-Olu Apprehended Kingsley Nwezeh in Abuja The Chief of Army Staff, Lt. Gen Taoreed Lagbaja, yesterday, condemned the derogatory remarks heaped on Governor

Babajide Sanwo-Olu by a soldier over the recent arrest of a soldier plying motorcycle on one-way traffic.

Lagbaja made the condemnation while fielding questions

from newsmen in Enugu during the commissioning of a project.

The army chief said the soldier, who appeared on a viral video on social media, making derogatory comments

about the governor had been apprehended.

"The soldier that was apprehended by the Governor of Lagos State while plying on the one way does not represent the Nigerian

Kalu Commences ‘Food for Peace Programme’, Distributes 6,000 Bags of Rice, Others Emmanuel Ugwu-Nwogo in Umuahia The Deputy Speaker of the House of Representatives, Benjamin Kalu, has commenced the Food for Peace Programme, a key component of his Peace in the South East Project (PISE-P).

A press release from the office of the Deputy Speaker, signed by his Chief press secretary, Livinus Nwabughiogu, said that the programme kick-started on the night of Sunday January 7, 2024 at Bende, Abia State.

At the event tagged: "A Hungry Man Is An Angry Man", large quantities of various food items were distributed to all the 17 Local Governments in Abia, he said.

The food items include over 6,000 bags of rice, 150 bags of beans, 80 bags of garri, 3,000 cartons of spaghetti,100 cartoons of vegetable oil.

In addition, the deputy speaker distributed empowerment materials such as motorcycles, deep freezers, sewing and grinding machines, big capacity generators and pesticides with spraying kits.

There were other items meant for the physical comfort of thousands of beneficiaries such as 3,000 pieces of wrapper, sleeping mats, blankets, mosquito nets, children's clothes and brocade fabrics.

The food for peace programme, which is under the agriculture and food security pillar of PISE-P, recognizes the importance of food security in the search for peace in the South-east region.

It is expected that the motorcycles will be used to access the farmlands in the hinterlands, while the pesticides and spraying machines would be used to checkmate weeds and

pests thereby enhancing food production.

The generators and deep freezers, among others items are equally useful in useful in the agricultural value chain hence their inclusion in the empowerment items.

Kalu had before the distribution of the items, stressed the need for a seamless distribution of the various items in all the local governments, adding that every beneficiary must be captured for accountability.

He stated that the other components pillars of PISE-P would be launched in phases, noting that in due course, infrastructural developments would roll in and improve the lots of the people.

The deputy speaker said that with PISE-P the prospect for sustainable peace and tranquility in the South-east was very high, especially with the commitment already expressed by President Bola Tinubu.

He therefore called on Ndigbo to support Mr. President to realise

his new deal for the Southeast, adding that the zone would reap immense benefits under Tinubu's administration.

However, he warned that nothing would be achieved in the region in the absence of peace and security hence everybody should give peace a chance.

"It is time for unity, it is time for peace. That is the only way we can rebuild our region," Kalu pleaded, adding, "our hard work will only pay when we do it in peace and unity".

Ibrahim Oyewale in Lokoja

and evaluation.

It will also improve coordination and partnership in data collection a international and country level. and improve data collection analysis tools and methodologies and Improve the dissemination and utilisation of data.

The state director pointed out that the current edition of the survey is the 7th in the series and is aimed at providing information on population, fertility, family marriage, maternal and child health, child survival, HIV/AIDS and other sexually transmitted infections (STIs), reproductive health, nutrition, gender issues, domestic violence, tobacco and alcohol use in Nigeria.

Ojo further stated that all of them are health indicators that are very key and helpful to policy makers and program planners in health and health related planning.

He assured the journalists that all expository presentation on the focus of the survey, saying it is obvious that tremendous strategic planning must have been put in place for the implementation of

the survey.

"This gathering therefore symbolises the culmination of such strategic planning. Hence the call for collaborative efforts, unwavering commitment from all stakeholders becomes imperative.

"Therefore, your esteemed presence here today further underscores a collective dedication to advancing the field of knowledge on the survey, bearing in mind your individual and corporate roles and responsibilities towards making the programme a huge success.

"For over three decades, the NPC has spearheaded the implementation of the NDHS, in close collaboration with the Federal Ministry of Health and key partners. This survey has been instrumental in providing invaluable insights that inform,” he said He added that Kogi State had already commenced the survey activities in 18 out the 21 local government areas since August 2023, stressing every local government areas would adequately covered in due course.

army because in every respect it contravenes what the army stands for, which is discipline as an army and it contravenes the Constitution and the laws of Lagos and so we frown at that as an army", he said.

The army chief noted that after a thorough investigation, only one soldier went on social media to verbally attack the Governor of Lagos State and not several soldiers as the media alleged.

"Every other comic act that you have seen on social media, they are not personnel of the Nigerian Army. We have investigated that. From the mode of the dressing of some of them, you will know that they are not personnel of the Nigerian Army.

"One of them was running the cap badge upside down and you will know that that is not the personnel of the Nigerian

Army and from the utterances that these people made, you will note the angle from which they're talking", he said.

Lagbaja noted that "they were talking politics not the army. So we will leave it like that for the ones that are of the army, we will investigate it and it will be treated accordingly".

He also added that the Chief of Administration, Nigerian Army, Maj Gen Jimmy Akpo, had sent a directive to all formations and units of the Nigerian army to further sensitise troops on the need to be disciplined and abide by the laws of every community where they are deployed.

"So we are serious about upholding laws, upholding rules and remaining disciplined and we will enforce that on our personnel," he said.

Rivers Crisis: Lawmakers NPC: We are Committed to Success of Seek Re-presentation of Nigeria’s Demographic, Health Survey 2024 Budget, Writes Fubara The National Population Commission (NPC) has reiterated its determination to make the 2023-24 Nigeria Demographic and Health Survey (NDHS) a success in Kogi State , has reiterated its commitment to the successful Demographic and Health Survey (NDHS).

The State Director, NPC, Kogi State, Mr. Abiodun Ojo gave this commitment while speaking at press briefing signifying the official launch of the Nigeria Demographic and Health Survey (NDHS) Lokoja , Kogi State yesterday.

Ojo explained that the NDHS programme was a five-year project designed to assist institutions in collecting and analysing data needed to plan, monitor and evaluate population health and nutrition programmes.

According to him, the main objectives of the programme worldwide include but not limited to the following to provide improved information through appropriate data collection, analysis

Blessing Ibunge in Port Harcourt

The Rivers State House of Assembly led by Martins Amaewhule expressed dissatisfaction that they were yet to receive the State's Medium Term Expenditure Framework and the 2024 Appropriation Bill.

This as the House has agreed to write the Governor, Siminlayi Fubara and notify him on the delay in the presenting the bill in line with the 1999 Constitution as amended.

Legislative sitting held at the legislators quarters, Port Harcourt, the Speaker Amaewhule hinted that the State House Assembly was Bill, where the Lawmakers in a vote unanimously agreed that the governor should be notified on the delay in representing the budget.

Recalled that the governor had presented the 2024 appropriation bill to the former speaker, Edison

Ehie's led assembly, which was adopted by the lawmakers last year and subsequently signed by the governor.

Meanwhile, the House yesterday gave First Reading to a Bill which seeks to amend the State Traditional Rulers Law No. 4 of 2015.

The bill was sponsored by the Majority Leader, who is also the Member representing Akuku Toru Constituency I, Major Jack.

Presenting the bill, Jack explained that it seeks to amend some sections of the Principal Law, and when passed, will make the traditional rulers law to be in tune with current realities.

Similarly, the House gave First Reading to a Bill which seeks to repeal the Rivers State Advertisement and Use of State-owned Property (Prohibition) Law No.7 of 2022.

The Bill was sponsored and presented by the Member representing Port Harcourt Constituency II, Tonye Adoki.

wednESday JANUARY 10, 2024• T H I S D AY

37

NEWS

GOVERNOR DIKKO RADDA VISITS UMAHI…

Governor Dikko Radda of Katsina State(left) exchanging pleasantries with Minister of Works, Dave Umahi when Radda paid Umahi a courtesy visit in Abuja ... recently

Kogi Assembly Laments Spate of Insecurity in Yaga East as Six Persons Kidnapped Ibrahim Oyewale inLokoja

No fewer than six persons have been kidnapped in the last three weeks in Yagba East Local Government Area of Kogi State.

The member representing

Yagba East in the state House of Assembly, Emmanuel Obaro, disclosed this yesterday while moving a motion of urgent public importance in the Assembly.

Obaro said he could not ascertain whether the kidnapped

Scholars Harp on Peaceful Coexistence in Nigeria RaheemAkingbolu

Islamic scholars, lawmakers, and other stakeholders have advocated peaceful coexistence and avoidance of misinformation that could lead to conflict in Nigeria and other parts of the world.

They stated this at the 15th annual Islamic International conference organised by Daaru Na’im Academy for Sharia Science of Nigeria with the theme, “The Link between Jurisprudence of Sharia and Contemporary Issues”.

The Conference Supervisor and General Director, Daaru Na’I’m Academy for Shariah Sciences of

Nigeria, Sheikh Imran Abdulmajeed Eleha said that with the advancement in technology and other changing realties in society is important to know the position of Sharia to avoid misinformation and misunderstanding.

He pointed out that the conference brought together scholars from around the world to dissect the link between the jurisprudence of sharia and contemporary issues affecting Muslim communities.

He said: “The purpose of the conference is for people to better understand Islam and understand the position of Sharia on contemporary issues that involve human beings from marriage to finance and others.”

victims have regained their freedom or not, stating that the issue of kidnapping and armed robbery is gradually spreading in his constituency which is creating

a rippling-effect that can harm individuals, families and engulf the environment with fear and uncertainty across the various communities in Yagba East.

According to him, “I am aware that in the last three weeks, six different cases of attacks, leading to losses of lives, which are likened to banditry, are reported. Other

cases of attacks in the form of kidnapping are on the rise. These attacks are affecting businesses already and dissipating the resources of the vulnerable victims.

LaleyeDipoinMinna

Minna at the opening of the Doctrine and Training Conference with the theme “Enhancing Operational Effectiveness in a Joint Environment Through Tailor Made Training” at the TRADOC Headquarters, Minna Niger State.

“It has become clear in the increasingly complex modern operational environment that

the Army must work with other services, government security agencies as well as nongovernmental stakeholders to secure the country for prosperity to thrive,” he declared.

He, however, assured that the Nigerian Army under such arrangements would be operating largely as part of a joint task force

while retaining the readiness to do same under a multinational force within a regional or global arrangement.

He submitted that to achieve success, officers and men of the armed forces “within a joint multinational environment must be well trained and mission capable troops.”

Insecurity: Army Calls for Collaboration of Stakeholders to Surmount the Menace The Commander Training and Doctrine Command, NigerianArmy, Major General Kelvin O. Aligbe, has said that only collaboration between the nation’s security forces and other stakeholders would surmount the menace of insecurity in the country.

Aligbe stated this yesterday in

Adeleke Wades into Ila College of Education Crisis,Vows to Sanction Erring Officials Yinka Kolawole in Osogbo

Osun State Governor, Ademola Adeleke, has gotten involved in the crisis rocking Ila Orangun College of Education, as he directed an immediate investigation into the controversy.

The governor directed his Chief of Staff to lead a small

committee to investigate the matter.

The committee also included the Secretary to the State Government (SSG) and the Commissioner for Education among others, who will host a crisis resolution meeting between the school management and the Governing Council.

Reacting to accusations and counter - accusations between the chairman of the Governing Council and the college provost, Governor Adeleke directed the committee to look into the subject of controversies and ensure amicable resolution of the crisis.

He said: “I have read

various statements and allegations emanating from Ila Orangun College of Education.

I have also been briefed about the conflict between the school management and the college Governing Council.

The committee is hereby directed to call a meeting of both parties.

Public workers in Kwara State under the aegis of the Joint Kwara State Labour Congress have threatened to embark on strike after 14 days ultimatum issued to the state government expires over alleged refusal to fulfil the agreement reached

are the non-implementation of N35,000 Wage Award for all categories of workers in Kwara State following fuel subsidy removal; refusal to domesticate and implement 40 percent peculiar allowance as approved and provided for by the

adjustment to pensioners since the approval of the current New Minimum Wage in 2019.

Others are lack of willingness to pay local government workers outstanding arrears; outstanding arrears of promotion for 2020, 2021

at local government level; inadequate funding of state-owned tertiary institutions, non-implementation of 100 percent CONPASS and CONTEDISS for state-owned tertiary institution workers.

Oyebanji Commended for Strike Looms in Kwara, as Workers Issue 14-day Ultimatum to Govt Federal Government of Nigeria, and and 2022; non-implementation of 100 with them.

HammedShittuinIlorin Excellence in Leadership Among the demands of the Labour the non-payment of consequential percent CONHESS and 100 percent The Chairman of Gbonyin Local hazard allowance for health workers Council Development Area (LCDA), Mr. Oluwadamilare Ajayi, has applauded Ekiti State Governor, Mr. Biodun Abayomi Oyebanji, for creating a conducive and enabling environment for the growth and development of the state.

Ajayi also praised the State Chairman of All Progressive Congress( APC) Barrister Paul Omotoso ,noting that he is a great leader and a unifier who has held the party firmly together over these past years thus making it the most united and outstanding political

party in the state.

Ajayi, who dropped these hints in a statement commended Governor Oyebanji and his team for efficiently and effectively driving the state towards greater heights in all aspects and ramifications.

His words:” On a very special occasion like this when I was again privileged to be sworn in for a second term, now as an elected Chairman of my LCDA , I cannot but thank our amiable Governor Oyebanji for his dynamic and selfless leadership who has been piloting the affairs of the state in line with the progressive ideals.

N-HYPPADEC to Expend N200m on Bida Water Works Project Rehabilitation Laleye Dipo in Minna

The National Hydro Electric Power Producing Areas Development Commission (N-HYPPADEC) has taken over the rehabilitation of the Bida Water Works in Niger State, and will

spend N200 million on the project.

As a result of the water works not operating up to its capacity for more than 10 years, the people of Bida and environs had battled with access to potable water and outbreak of water borne diseases over the years.

The Managing Director of N-HYPPADEC, Alhaji Abubakar Sadiq Yelwa, who led officials of the commission and those of the Niger State Water Board on an inspection of the project, assured them that the acute shortage of water in the town

and neighbouring communities would be a thing of the past when the rehabilitation work, which has attained 60 percent, is completed, adding that “the cases of breakout of water borne diseases will also be reduced significantly.”

Ondo State Governor, Mr. Lucky Aiyedatiwa, has approved the sum of N1.2billion to fully offset gratuity owed by the former state Governor, Dr. Olusegun Mimiko led-administration in 2014.

A statement made available to

Sina Adeyeye, quoted the governor as saying that the move was part of efforts of the state government to settle the backlog of gratuity of state retirees.

He emphasised that the distribution of cheque to

held at the Cocoa Conference Hall of the Governor’s Office, Akure, on January 11, 2024, by 3p.m.

According to Adeyeye, “It would be recalled that all 2013 set of state retirees’ gratuity had been cleared last year while 2011

were also cleared.

“This is apart from about N320million (monthly) benefits, totalling about N2.7billion (yearly) that the government has set aside for the settlement of all other categories of the pensioners’ benefits.”

INEC to Conduct Bye-elections Aiyedatiwa Approves N1.2bn for Payment of Backlog of Pensioners’Gratuity journalists yesterday by the Press beneficiaries would be flagged off and a fractional part of 2012 set in Three LGAs in Kano FidelisDavidinAkure Officer, Office of the Head of Service, by the governor at an event to be of the local government retirees AhmadSorondinkiinKano

The Independent National Electoral Commission (INEC) in Kano State has concluded arrangements to conduct re-run polls in the Kunchi/Tsanyawa, Kura/Garun Malam, and Rimin Gado/ Tofa constituencies for the state House of Assembly elections.

The state INEC Chairman, Abdu Zango, stated this at a consultative meeting with leaders of political parties at the commission’s headquarters yesterday in Kano.

He explained that the election, which was scheduled to be held on February 3, 2024, would address gaps left by court orders within the three local government councils in

the state.

According to him, the commission fixed January 21 for the close of the submission of the names of party agents of all the political parties participating in the by-election.

He said: “We are committed to conducting a free, fair, and credible by-election in line with the Electoral Act; we have no candidate. The commission will not hesitate to declare whoever emerged victorious.

“The Appeal Court has ordered for the re-run bye-election into the state House of Assembly in three local government councils, comprising Kunchi/Tsanyawa, Kura/Garun Malam, and Rimin Gado /Tofa constituencies.

German Group Names Ex-Abia Lawmaker Country Director for Nigeria

Emmanuel Ugwu-Nwogo in Umuahia

A former member of the Abia State legislature, Hon Obinna Ichita, has been appointed the Country Director/Principal Representative of the German

Initiative for Knowledge Transfer eV in Nigeria.

His appointment was announced in a statement signed by the Board Secretary, Daniel John Ferris, saying the appointment took effect on January 8, 2024, while “all relevant

authorities have been notified of this development.

“It is my pleasure to announce that approval has been granted for the appointment of Obinna Ichita as the Country Director/ Principal Representative of the German Initiative for Knowledge

Transfer eV in the Federal Republic of Nigeria.”

According to the board secretary, the new country director would work “in partnership with the relevant authorities, stakeholders and our development partners in the host country.

wednESday JANUARY 10, 2024 • T H I S D AY

38

NEWS

FREE VISA FOR THEM…

L-R: Managing Director, Thrillers Travels, Dr. Moses Adebisi presenting Canadian Visa to Dr. Michael Onye; Marketing Manager, Thrillers Travels, Pelumi Adeyemi, and Admin Personnel Manager, Thrillers Travels, Oluwaseun Adeniyi, during the presentation of free Canadian Visa in 50 beneficiaries in Lagos… recently. Photo: Abiodun Ajala

Nigeria to Build Monument from the Ashes of Crushed Elephant Tusks, Ivories Michael Olugbode in Abuja

The federal government is set to build a monument in Abuja from ashes of crushed elephant tusks and ivories to show the importance of the animal to the country, and to announce its zero tolerance to illegal trading in ivories and tusks.

Speaking at the crushing of 2.5

tons of elephant tusks and ivories with market value of N9.9 billion in Abuja yesterday, the Minister of State for Environment, Dr. Iziaq Salako, said the ashes of the crushed ivories and tusks would be used to build a monument in Abuja to show to the rest of the world the importance of elephants to the country, and the government’s willingness to

Imo Police Arrest One for Kidnap of Traditional Ruler Tony Icheku in Owerri

The Imo State Police Command yesterday stated that it has arrested one person and impounded several weapons and ammunition in continuation of the manhunt for the kidnappers of a traditional ruler, Eze Samuel Ohiri, last Saturday in the state.

The state Police Public Relations Officer (PPRO), ASP Henry Okoye, in a statement said: “Police operatives in robust synergy with the military had stormed a suspected camp at Ihite Owerre, in Orlu Local Government Area of Imo State, and arrested one suspect while others escaped with

gunshot injuries after a protracted gunfight with the terrorists.”

According to him, the police stormed the camp allegedly belonging to the IPOB/ESN following the kidnapping of Mr. Sabinus Ugwuebu, a Federal Road Safety Corps (FRSC) officer, and HRH Eze Ohiri.

The PPRO added that one pump action gun, two double barrel guns, two single barrel guns, 54 rounds of live cartridges, military uniforms, six motorcycles, a box containing locally made explosives, and road safety uniforms of the kidnapped officer were recovered during the search.

do everything to preserve them.

Salako, in his speech at the public disposal of confiscated wildlife stockpiles under the custody of the National

Adibe Emenyonu in Benin City

In his earlier vow to ensure unity in the Edo State Peoples Democratic Party (PDP), frontline aspirant of the party in the February primaries to select a candidate eho will fly the party’s flag in September 2024 election, Mr Asue Ighodalo, yesterday

Segun Awofadeji inBauchi

Local business women in seven local government areas of Bauchi State have saved over N1 billion within the seven years of the implementation of the Women Empowerment and Youths Entrepreneurship (WAY) project.

Tension has gripped Sagamu, the headquarters of Sagamu Local Government Area of Ogun State, following the gruesome murder of a member of Akarigbo-in-Council, Chief Abiodun Folarin, last Monday night by suspected gunmen.

The deceased, until his death, was said to be the Bashorun Akarigbo and Baasegun Itunsokun community in Sagamu.

It was learnt that the assailants, who were three in

number, stormed the Itunsokun, Sagamu residence of the popular traditional chief at around 10:45p.m. last Monday in a Toyota Camry car.

The hoodlums were said to have shot into the air to scare residents of the area, after which they went straight after their target, shot him dead and left the scene without taking anything away.

Two traditional rulers, who did not want their names mentioned, confirmed the assassination of the traditional chief.

brought together members of the State Working Committee (SWC) of the PDP. Sinçe the re-election of Godwin Obaseki as governor of Edo State on the platform of the PDP, the party has been sharply divided into two factions. While some members were loyal to the governor, others pitched their tent with the PDP

zonal Vice Chairman (South south) Chief Dan Orbih.

However, in a unification meeting which had in attendance all members of the Edo State PDP SWC held at the Benin residence of the state PDP Chairman, Dr. Tony Aziegbemi, for the first time, witnessed the coming together of all aggrieved working committee

members of the party in Edo. Some of the members at the meeting include: Dr. Anthony Azigbemi, State Chairman; Deputy Chairman, Harrison Omagbon; Vice Chairman (Central) Bishop Anthony Okosun; , Ehis Destiny Oreye, Anthony Anenih Jnr. State Secretary, Hilary Otsu; and Akhere Ogbesia.

The project was an initiative funded by Global Affairs Canada (GAC) and implemented by the Mennonite Economic Development Associates (MEDA) in the agri-food landscape, which has been quietly transformed by the project.

The local government areas that benefited from the project were

Bauchi, Toro, Warji, Ganjuwa, Jama’are, Dass and Katagum.

The seven-year journey that was aimed at enhancing business performance and the overall environment for women and youths-led businesses officially concluded its programmatic activities in December 2023.

At the local close-out event in Bauchi, the Director General of the Sustainable Development Goals (SDGs), Mrs. Lydia John Shehu, praised MEDA as “the best development partner that has impacted immensely to the socioeconomic development in the life of people of the state.”

NIWA’s Mandate in Marine, Blue Economy Achievable, Says MD Ibrahim OyewaleinLokoja

economy in the country, the agency Managing Director, Bola Oyebanji,

has disclosed that the core mandate of the Authority in marine and blue economy is achievable.

Oyebanji made this known while speaking at the NIWA Special Retreat with the theme: ‘Repositioning National Inland Waterways Authority for Excellence’, held in Lokoja, the

Kogi State capital, last Monday.

He explained that everyone is put in a position to achieve something and added value to the system.

According to him, “We have all been positioned to add value to the system in diverse ways. While some are to design policy directions,

others have been picked to be the drivers of such policies. I likened the two groups to the main teams piloting a ship on a journey.

“While some hold the deck, others ensure the engines below run at their utmost performance.

The ultimate goal is to achieve excellence at sea.

Army to Address Security Dark Spots in Enugu, Says COAS The Chief of Army Staff, Lt. Gen. Taoreed Lagbaja, has assured Nigerians that the army would strengthen security efforts in a few dark areas in Enugu State, such as Isi-Uzo Local Government Area, commending the government and people of the state for being

good partners in the fight against insecurity.

Lagbaja said the desire and effort of the Government of Enugu State aligned with the goal of the army to expand the frontiers of peace and stability for law-abiding citizens to thrive and thanked the governor

and people of Enugu State for the support provided to the 82 Division of the Nigerian Army, the Garrison, 103 Battalion and other deployments across the state.

This was even as the state Governor, Dr. Peter Mbah, commended the army for

the immense support to his government’s efforts to boost security in order to grow the state economy from $4.4 billion to $30 billion, calling for army barracks in Isi-Uzo area to ensure permanent security in that part of the state.

Gombe Gov: ‘We’ll Work with Devt Partners to Align Governance with Local Needs’ Segun Awofadeji in Gombe

Gombe State Governor, Mr. Gunmen Kill Ogun High Chief The Muhammadu Inuwa Yahaya, James Sowole in Abeokuta

of the then nine membership Inter-Agency Committee on CITES enforcement in Nigeria that was chaired by NESREA,” the minister said.

Local Women Businesses in Bauchi Mobilise Over N1bn Savings

As part of efforts to reposition

government had the responsibility to regulate operations at Lekki Phase 1 which is a government scheme.

Saying the action was regrettable, Wahab said all the removed gates are intact and would be returned to the various zones of the residents association immediately an amicable agreement is reached on modalities for re-installing the gates.

He reiterated that part of the agreement must include a proviso that the gates cannot be shut before 12 midnight and must have personnel manning them to ensure seamless entry and exit for all residents.

in illegal wildlife trade and lack of adequate enforcement.

“This suspension was later lifted by CITES Secretariat in 2011 through a well-coordinated effort

Edo 2024: Ighodalo Meets PDP Stakeholders, Unifies State Working Committee

National Inland Waterways Lagos: Inner Lekki Street Gates’Removal in Residents’ the Authority (NIWA) towards and achieving its Interest , Says Environment Commissioner promoting objectives of the marine and blue Lagos Commissioner for the Environment and Water Resources, Tokunbo Wahab, yesterday told members of the Lekki Residents Association that the decision to remove inner street gates in Lekki Phase 1 was taken in the larger interest of all residents of the state.

According to a statement issued

by Kunle Adeshina, director f Public Affairs, MOE&WR, Tokunbo Wahab, who spoke at a stakeholders’ meeting convened by his transport counterpart, Mr. Oluwaseun Oshiyemi, at Alausa, he said it was a very painful decision which had to be taken because the state

Environmental Standards and Regulations Enforcement Agency (NESREA), noted that sometime ago, Nigeria was suspended from CITES trade because of increase

has restated his administration’s commitment to working with development partners to align governance with the needs and aspirations of the people.

Yahaya gave this indication

during a meeting with the Country Representative of PROPCOM Plus, a UK-funded project, Dr. Adiya Ode, at the Gombe State Governor’s Lodge in Abuja yesterday.

While highlighting on the state’s 10-year development plan, tagged DEVAGOM with the background from

pre-office needs assessments in 2019, the governor stressed the urgency of forging strategic collaboration to ensure a sustainable development and lasting legacy.

He said: “In Gombe State we have a clear vision. We are working with our development agenda, which encapsulates our

mission and vision borne out of the Needs Assessment that we carried out even before coming into office in 2019.

“We have no option than to partner with organisations like yours in line with the needs of our people. We must do it fast and do it well in order to leave a lasting legacy.”

ASUU Gives Scholarships to Six Indigent UI Students Kemi OlaitaninIbadan

Six students of the University of Ibadan (UI), Oyo State, yesterday benefited from the 2023 Academic Staff Union of Universities (ASUU) Indigent Students’ Scholarship Award.

The awards, which comprised of national and branch categories, were presented at the institution by the UI branch of the union.

The national award of N200,000 each was presented to two students by the Ibadan Zonal Coordinator of ASUU,

Prof. Oyebamiji Oyegoke while the branch award of N100,000 each was, however, presented to four other students by different members of the union.

The beneficiaries of the national award were Mr. Abdulkabir Ilori, a 200-level student of Medicine

and Surgery, and Ms. Mariam Busari, a 200-level student of Microbiology, both from UI. The branch beneficiaries were Mr. Olanrewaju Osiga, a 400-level student of Aquaculture and Fishery Management and Hope Adesina, a 200-level student of Archaeology.

39

T H I S D AY • WEDNESDAY, JANUARY 10, 2024

WEDNESdaysports

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Win or Lose, Peseiro Not Returning to Eagles After AFCON Gusau hints Waldrum’s contract to be renewed No more salaries for all assistant coaches

Duro Ikhazuagbe The contract of Head Coach of the Super Eagles, Jose Peseiro, will not be renewed irrespective of whether he wins the 34th Africa Cup of Nations in Côte d’Ivoire or not.

President of the Nigeria Football Federation (NFF), Alhaji Ibrahim Musa Gusau, gave this hint yesterday at an interactive session in Lagos.

The Portuguese gaffer whose initial contract with NFF expired on July 31, was handed a fresh contract to lead the Super Eagles to the 2023 AFCON initially scheduled to hold last summer.

Non completion of the facilities to host the tournament forced the postponement till January 13th kickoff.

Peseiro has come under fire from the local sporting media due to Eagles uninspiring play under his watch.

“The contract of our head coach is expiring at the end of the tournament. We will then open discussion with whoever will take over from Peseiro. One thing is certain, he’s not coming back,” he noted.

Gusau insisted that the terms of the contract entered with the Portuguese made it Impossible to dispense with his service when

Nigerians called for his sack.

Interestingly, while Peseiro’s time with Nigeria is up, the contract of Super Falcons American Coach, Randy Waldrum, is to be renewed for him to continue to lead the nine-time African champions to greater heights.

Waldrum and the NFF have been playing hide and seek over a new contract for the gaffer. He led Falcons to the Round of 16 at the last FIFA Women’s World Cup in Australia and New Zealand before crashing out to Britain’s Lionesses in a nail-biting penalty shootouts.

The Nigerian ladies were unbeaten in regulation time in any of their four matches, before that penalty defeat.

Gusau admitted that Waldrum was on his way back to the team.

“The Super Falcons Coach Randy Waldrum is not going anywhere. He’s coming back to the team to build on the great run of the team at the last Women’s World Cup in Australia,” began Gusau.

He stressed that with the feat performed by Falcons in Australia,”battling Olympic champions Canada to a scoreless draw in Melbourne, defeating co-hosts Australia 3-2 in Brisbane and also playing scoreless draw with Republic of Ireland before that

painful penalty defeat by Britain, it was proper and fit that we renew Waldrum’s contract.”

Against expectations of ball fans worldwide, Falcons had the better of the clash with England, leading to a scoreless result in regulation and extra time, forcing the encounter into a penalty shootout.

“I am looking forward to a clash between Super Falcons and the Lionesses of England again. I will prefer that we even play the match before their home fans,” enthused Gusau who believes that Falcons ought not to have lost that Round of 16 match.

Waldrum signed a two-year contract with Nigeria in 2021, during which he led Falcons to qualify for the 2022 Women Africa Cup of Nations in Morocco and the FIFA Women’s World Cup. Meanwhile, the NFF Chief has also hinted that all assistant coaches with the national teams will henceforth no longer be on salaries with the federation.

“All assistant coaches will now earn allowances based on their outings with the national teams.

We will only pay the head coaches while the assistants will only be called when needed. It is one of the measures that we have taken to relax the wage burden we are bearing.”

Moffi to Join Eagles in Côte d’Ivoire as Boniface Undergoes Surgery The Confederation of African Football (CAF) has approved the replacement of injured Bayer Leverkusen striker, Victor Boniface, who has been ruled out of the Africa Cup of Nations (AFCON) with OGC Nice striker, Terem Moffi.

Super Eagles Media Officer, Babafemi Raji, confirmed the good news last night. He however added that Moffi is to join the squad in Abidjan ahead of Nigeria’s opening Group A clash with Equatorial Guinea on Sunday.

It is not likely Moffi will play the opening match as he’s due to arrive camp same day from France after playing for his club.

Boniface’s injury is another blow to Nigeria's preparations to win a fourth AFCON title.

The 23-year-old Boniface who is out of action till April now joins a growing list of Nigeria players who have been forced to miss AFCON 2023 through

injury, including Nottingham Forest striker Taiwo Awoniyi and Leicester City midfielder Wilfred Ndidi.

Ndidi's Leicester team-mate Kelechi Iheanacho, who missed the Super Eagles training camp, is expected to join up with the rest of the squad in Abidjan after he was declared fit for the tournament yesterday.

Boniface has been in good form for his German club with 10 goals and seven assists in the Bundesliga this season, and is in the running to be named the Bundesliga rookie of the month for a fifth consecutive time.

He picked up the injury in Nigeria's training camp in Abu Dhabi and was absent from the Super Eagles 2-0 friendly loss to Guinea on Monday.

He shared his disappointment with his followers on X, having also previously missed the Under-20 Africa Cup of Nations through injury.

Nigeria will begin their quest for a fourth AFCON title in a Group A game against Equatorial Guinea on 14 January.

The West Africans will also face hosts Côte d’Ivoire and Guinea-Bissau in the group stage.

Terem Moffi...replaces injured Victor Boniface

Middlesbrough Gain Edge over Chelsea in Carabao Cup Semis Chelsea missed a host of chances as Championship side Middlesbrough earned a slender 1-0 advantage in the first leg of their Carabao Cup semi-final at a boisterous Riverside Stadium.

Hayden Hackney scored the only goal, opening up his body to slide home an Isaiah Jones cross in the first half.

Cole Palmer missed three presentable opportunities as Chelsea failed to score for the sixth time this season.

The second leg takes place on Tuesday, 23 January at 19:45 GMT. Liverpool face Fulham in the other semi-final, with the final taking place at Wembley on Sunday, 25 February.

Both sides came into the game with 12 first-team players unavailable and the situation worsened for Boro boss Michael Carrick when striker Emmanuel Latte Lath and left wing-back Alex Bangura were forced off in the opening 20 minutes.

Latte Lath had capitalised on a poor Levi Colwill header to get

Bayern Munich to Light up Allianz Arena in Honour of Beckenbauer

Bayern Munich are to light up their Allianz Arena stadium in honour of Franz Beckenbauer.

The German legend, who was nicknamed 'Der Kaiser', passed away aged 78 on Sunday.

Beckenbauer won four league titles with Bayern and was captain when the German giants

won the European Cup in 1974, 1975 and 1976.

"Thank you for everything, Franz Beckenbauer," said Bayern in a statement.

"In memory of the 'Kaiser', the Allianz Arena will light up with the words 'Thank you Franz' in the evening hours of 16:30

to 22:00 CET over the coming days.

"To finish, the special illumination will also be seen from 16:30 to 00:30 on Friday night, during FC Bayern's home match against TSG 1899 Hoffenheim.

"FC Bayern is mourning the loss of Franz Beckenbauer."

The Germany great, primarily a defender, played 582 times for Bayern Munich and, in two managerial stints at the club, helped them win the Bundesliga title in 1994 and Uefa Cup two years later.

He was also the club's president from 1994 to 2009.

Late Franz Beckenbauer

in behind the Chelsea defence and was caught on the ankle by Axel Disasi, but the referee waved away penalty appeals and there is no video assistant referee system in operation at this stage of the competition.

Palmer's first big miss came when experienced captain Jonny Howson gifted him the ball, 30 yards from the Boro goal. He drifted towards goals and looked to place in the corner but dragged wide.

Minutes later, Boro took the lead when Jones got in behind the Chelsea defence and twisted and turned Colwill, who struggled throughout, before his cross was turned in by Hackney, who had drifted off Moises Caicedo.

The goal was met with rapturous noise inside the Riverside, but the game soon returned to the familiar pattern of Chelsea attacks with Palmer turning over the bar after Enzo Fernandez's effort was spilled

by Tom Glover.

TR

Wednesday, January 10, 2024

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& RE A SO

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Price: N400

MISSILE ICAN to Federal Govt

“According to the 2020 World Bank Doing Business report, Nigeria ranks 171 out of 190 countries in getting electricity and electricity access is seen as one of the major constraints for the private sector, it is doubtful that FDI will be attractive under this situation. Additionally, the specter of corruption and transparency issues loom large, potentially eroding investor confidence...” --ICAN President, Dr. Innocent Iweka Okwuosa, tasks the FG on challenges constraining businesses in Nigeria.

EricTeniola guest columnist

The Villa Makes it Easy to Get Lost W hen General Ibrahim Badamosi Babangida GCFR (82) moved the seat of the central government from Lagos to Abuja on December 12, 1991, he did so to hide himself.

You cant be active when you are hiding.

On August 17, 1991, he commissioned the third Mainland Bridge in Lagos. The bridge is the biggest project ever established in Lagos and since the commissioning of that bridge by General Babangida, no Nigerian leader has sited any other bigger project in Lagos.

On August 12, 1975, Brigadier General Murtala Mohammed the then head of state inaugurated a panel on the issue of transferring the nation’s capital out of Lagos. The panel was given up to six months to submit its report and make recommendations. The panel was directed to examine the desirability of retaining Lagos as the Federal capital of Nigeria. The panel was further directed to recommend a suitable alternative location should it determine that the Federal capital be moved out of Lagos. The panel was headed by Justice Akinola Aguda (10 June 1923- 5 September 2001).

Justice Aguda was from Akure in Ondo state.

Dr. Aguda had his education at St. David’s School, Akure, Government College, Ibadan, Higher College, Yaba, London School of Economics and Political Science, University of London, England and School of Oriental and African Studies, University of London. He was the former Chief Justice of Botswana, administrator-general and public trustee, Western Nigeria, 1961-1964, legal draftsman, 1964-1967, dean, Faculty of Law, University of Ife, 1965-1966, director of Public Persecutions, Nigeria, 1967-1968, solicitor-general and Permanent-Secretary, Western Nigeria Ministry of Justice, 1968, Judge, High Court, Western State of Nigeria, 1968-1972, later Chief Judge, Ondo state until 1978, appointed director, Institute of Advanced Legal Studies, 1978.

Unfortunately, he did not make the list to the Supreme Court.

Other members of the committee were Mohammed Isma(Secretary), Ajato Gandonu, a geography professor and town planner, Tai Solarin, an educator and social critic, Owen Feibai, O.K. Ogan, and Pedro Martins, the first Catholic Chaplain of the Nigerian Army.

On February 3, 1976, General Murtala Mohammed made a broadcast to the nation on the conclusions of the meeting of the Supreme Military Council. On the issue of the new Federal Capital, the General declared “the panel on the local of the Federal Capital has recommended that the nation’s should move out of Lagos to a Federal Territory of about 8,000 square Kilometre in the central part of the country.

The Supreme Military Council has accepted the recommendations. The site recommended satisfied the Panel’s criteria of centrality, good and tolerable climate, land availability and use, adequate water supply, low population density, physical planning convenience, security and multi access possibility. The area is not within the control of any other major ethnic groups in the country. We believe that a new Capital created on such virgin land, as suggested, will be for all Nigerians a symbol of their oneness and unity. The few local inhabitants in the area, who need to be resettled outside the area, will be resettled in lace of their choice, at Government expense.

In order to avoid land speculation in the area, a Decree is being promulgated immediately to vest all land in the Federal Territory in the Federal Government. A Federal Capital Development Authority is to be established to plan and

President Bola Tinubu administer the territory. An Administrator for the Federal Territory will soon be appointed to provide municipal services in the area. The Chairman of the Federal Capital Development Authority is expected to start work at once but the movement of the seat of the Federal Government out of Lagos is expected to take some ten to fifteen years. The Present Administration is firmly committed to ensuring that the necessary groundwork is completed and construction work started within the next four years.

Lagos will, in the foreseeable future, remain the nation’s commercial capital and one of it nerve centres. But in terms of servicing the present infrastructure alone, the colossal amount and effort required will be such that Lagos state will not be able to cope. It will even be unfair to expect the State to bear this heavy burden on its own. It is therefore necessary for the Federal Government to continue to sustain the substantial investments in the area. The port facilities and other economic activities in the Lagos area have to be expanded. There is need to in the circumstance for the Federal Government to maintain special defence and security arrangements in Lagos, which will henceforth be designated a “special area”.

These arrangements will be carefully worked out and written into the new Constitution. Kaduna and Port Harcourt are to be accorded similar status and designated “special areas” under the new Constitution”.

I want to believe that General Murtala Mohammed meant well by that declaration. But if we are to go by the words of the General, which he made 10days before he was assassinated, the Central Government has failed Lagos. The Central Government also failed Kaduna and Port Harcourt. The 1979 Constitution forgot Lagos.

In short the Central Government defaulted on its 1976 pledge to Lagos.

Since General Babangida moved the seat of government from Lagos to Abuja on December 12, 1991, Lagos has been abandoned by the Central government. It should not be so. Although Lagos is constantly flattered as the commercial nerve centre of Nigeria, the expected facilities to be provided in Lagos are beyond the capability of the Lagos state government.

Fortunately we have a former of governor

of Lagos state who is now the President of Nigeria. He too, has been one of those who had complained about the neglect of Lagos in the past. The expectation is that this anomaly will be corrected by him so that Lagos will get its dues.

The neglect of Lagos by the central government is most disastrous. I have read the report of Dr. Akinola Aguda’s Panel, there is no part in that report that recommended that Lagos should be abandoned. The panel recommended “gradual movement”, envisaging total movement to last at least 100 years. If we have to observe, the central government made the first part of its movement in 1980 under President Shehu Aliyu Usman Shagari and by 1991, it has completely moved to Abuja, that is a space of 11 years. That speed of movement ruined Nigeria’s economy, coupled with our adoption of the Structural Adjustment Programme (SAP). Abuja was given a hasty development at the detriment of other parts of the country.

On April 22, 1990, Major Gideon Gwaza Orkar (October 4, 1952 – July 27, 1990) launched a major unsuccessful coup attempt on General Babangida in Lagos. He survived but he lost his able ADC, Colonel U.K. Bello in the coup.

Lt Col Usman K Bello was an indigene of Niger State. Gwari by tribe, he started his Officer Cadet training with the 9th Regular Combatant Course in January 1971 at the Nigerian Defence Academy Kaduna. He was commissioned in the rank of Second Lieutenant in June 1973 and posted to the Recce Regiment.

He attended several courses in the Nigerian Army School of Infantry and some Armour officers’ courses in Britain and the United States.

He was ADC to Brigadier Shehu Musa Yar Adua GCON (5 March 1943 – 8 December 1997) when the latter was Chief of Staff Supreme Headquarters.

He was also the Brigade Major 24 Armoured Brigade before he proceeded to the Command and Staff College (CSC) for his Senior Division Course. At CSC he did very well and came first in order of merit.

Bello was not a university graduate but he put all his energy into making a career of the army. His last posting before being deployed to Dodan Barracks was as the CO of the Recce Battalion in Kaduna. As a Lieutenant Colonel, he replaced Major Sabo Dasuki (69) as ADC to President Babangida. Even as ADC he sought permission to undergo airborne training in the Nigerian Army School of Infantry. This was not a normal practice for one at his age and rank Bello commanded tremendous amount of respect from all ranks. General Babangida had a lot of confidence in him.

After his death, he was replaced by Colonel Nuhu Bamali who later died in a plane crash along with ten Generals on September 17, 2006 at the Obudu Cattle Ranch.

Captain Bade Omowa from Oka, Akoko in Ondo state and others played a major role in rescuing General Babangida and his family from Dodan Barrcks, Ikoyi, Lagos to National Arts Theatre, Iganmu, Lagos during the failed coup on the 9th April, 1990. After the coup attempt, it dawned on General Babangida that Dodan Barracks was no longer safe for him. On December 12, 1991, he finally moved the seat of Government to Abuja.

By the time General Babangida landed in the Presidential Villa in Abuja on that sunny day, there was no accommodation for his top aides.

Between 1991 till he handed over power to his appointed successor, Chief Ernest Adegunle Oladeinde Shonekan , General Babangida was much concerned about his personal safety. He became less active in the Presidential Villa in Abuja

and was not able to govern properly, hence the terrible mistakes he made in the last months of his regime, including the annulment of the presidential election, which is still affecting his image.

He glued himself to the villa, constructing structures in the villa and other parts of Abuja while the rest of the country got poorer.

IBB and his other successors made Abuja an El Dorado while the rest of the country wallowed in poverty and neglect.

You need to see the villa; it was designed purely to cut off the people. It is anti-people. It occupies one-tenth of the whole Central District of Abuja and it is one of the biggest Presidential Villas in the world with a large undeveloped space. If you enter the villa, it is as if you are in a golden palace.

The tragedy in our presidential system of government is that the people really have no role.

Once they vote, they are completely ignored until the next four years.

It is only the executive and legislature that profit from our democracy.

Take a look at the 2024 Federal Government budget and the very huge allocation given to the National Assembly. It is still the biggest allocation ever made to the second arm of government since 1999 and they made that allocation themselves out of greed. The sad aspect of it is that they will get away with it.

We have a system of government that slights the people and a Presidential Villa that has completely fenced them.

In 1997, an organization known as Youth Earnestly Ask for Abacha (YEAA) was formed.

The organization was led by a young man known as Daniel Kanu, who placed billboards around the country, publicized advertisements in the media and sponsored editorials to encourage support for General Sani Abacha. The support of the former military leader culminated in 1998 with what is now famously remembered as 2 Million Man March.

The campaign, held at what is now known as Eagle Square in Abuja, was to force General Sani Abacha to remove his military toga and stand for an election as Nigerian President. After the rally led by Kanu, General Abacha held a meeting of the Federal Executive Council (FEC) the following day. At the meeting, one of the Ministers asked General Sani Abacha, whether or not he enjoyed “the noise” that came from the rally the previous night. To everyone’s surprise General Abacha claimed ignorance of the rally and declared that he enjoyed a good sleep the previous night.

At the meeting, I sat close to his spokesman, late David Attah, a colleague and a close friend.

I asked David his opinion of General Abacha’s statement. David said General Abacha could be right because of the way THE VILLA was built.

The Germans who built the Presidential Villa built a garrison that cut off the people. Being the last bus stop, THE VILLA was constructed to isolate the leader. THE VILLA was not built to entertain protests or dissensions. If you are in THE VILLA you will think there are no problems in the world. It is not a theatre built to solve any problems. It is so easy to get lost in THE VILLA if you are the President. You will only be surrounded by aides and friends who often give false information so as to protect their positions, interests and loyalty.

Failure awaits any President who relies fully on what obtains in THE VILLA. The President must create a platform where he can get correct information outside THE VILLA on the true situation in the country.

After all, Democracy is about WE THE PEOPLE.

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