MONDAY 10TH JANUARY 2022 by THISDAY Newspapers Ltd

Stock Market Gains N1.33trn in First Trading Week Kayode Tokede The Nigerian Exchange Limited (NGX) kicked off the first trading week of 2022 on a positive note as its market capitalisation gained N1.33 trillion. This followed foreign investors’ and high

net worth investors' demand for Airtel Africa Plc, BUA Foods, Lafarge Africa Plc, and FBN Holdings Plc, which pushed market capitalisation to N23.628 trillion from the N22.296 trillion the stock market opened with trading on the first day.

Notably, the demand for Airtel Africa gained 10 per cent to close at N1,050.50; bargain hunting in BUA Foods appreciated by 9.9 per cent to close at N53.20; Lafarge Africa gained 7.7 per cent to close at N25.80; and FBN Holdings added four per cent to close

at N11.85, and spurred the weekly gain. The stock market benchmark, the NGX All-Share Index, also advanced by 2.7 per cent on its Week-on-Week (WoW) performance to close at 43,854.42 basis points, from the 42,716.44 basis points it

closed in 2021. Despite trading four days in the week as the federal government had declared last Monday a public holiday to mark the new year celebration, all other indices finished higher with the exception of NGX Premium, NGX insurance,

NGX AFR Div Yield, NGX Meri Growth, NGX Consumer Goods, NGX Lotus II Indices, which depreciated by 0.47per cent, 0.93 per cent, 0.97 per cent, 0.66 per cent, 0.87 per cent, and 0.12 per cent, Continued on page 8

ECOWAS Imposes Further Sanctions on Mali Junta... Page 5 Monday 10 January, 2022 Vol 27. No 9771. Price: N250

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Zamfara Killings: Atiku Urges FG to Ramp Up Security as Farouq Decries Situation Zulum always offers logistics support without prompting, Says GOC Chuks Okocha, Olawale Ajimotokan in Abuja and Michael Olugbode in Maiduguri A former vice president and

presidential candidate of the Peoples Democratic Party (PDP) in the 2019 election, Alhaji Atiku Abubakar, has decried the continued killings in the northwest

zone, particularly the recent attack in Zamfara State, which left over 200 dead, and therefore appealed to the federal government to ramp up security in the zone to

stem further waste of lives. In the same vein, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, has

also described the recent killings in Zamfara by bandits as nothing short of horrific. Also in a related development, the acting General Officer Commanding

7 Division of the Nigerian Army, Major General Abdulwahab Eyitayo, has hinted that the Borno State Continued on page 8

THE MONDAY INTERVIEW

Sadiku: I Was Hounded By Anti-reform Elements for Paying N5.8bn to Govt The immediate past Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC), Nigeria’s foremost investment promotion agency, Ms. Yewande Sadiku, recently broke her silence over investigations by multiple agencies of government over allegations of fraud and malfeasance, saying her ordeal was stoked by anti-reform elements, who were angry that she paid N5.8 billion to government. Sadiku, who shared her story during an interview with THISDAY, spoke about her experience working in a government agency, measures that government should adopt to make the country the investment destination of choice in Africa and how to improve efficiency in the public service, among others. The former NIPC CEO, came public with some of these revelations after the Independent Corrupt Practices and Other Related Offences (ICPC), had

in a letter dated December 16th, 2021, and addressed to the exNIPC CEO, cleared her of all the allegations levelled against her, prompting the ICPC to close the case. Sadiku, whose five-year tenure was fraught with petitions from different quarters, all of which necessitated her investigation by seven agencies of government, had devoted her time at the agency to institutional reforms and human capacity development, amongst other initiatives. The strong-willed woman, also had several petitions investigated by the Presidential Villa, including those from some members of staff at NIPC and even board members, who initiated some of the memos against her. In this interview with THISDAY, she broke down details of her days at NIPC, those behind her travails, why they were after her...

See interview on ȱŢŢȱ ȱŢť

THE CONTENDERS? Vice President Yemi Osinbajo, SAN (left) and former Goodluck Jonathan in handshake where the Vice President had gone to represent President Muhammadu Buhari, at the Extraordinary Summit of the ECOWAS Authority of Heads of State and Government to discuss the Political Situation in the Republic of Mali in Accra, Ghana… yesterday

Osinbajo Salutes Armed Forces’ Role in Sustaining National Unity... Page 66

MONDAY JANUARY 10, 2022 • T H I S D AY

MONDAY, JANUARY 10, 2022 • T H I S D AY

NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 08033506821, 08097777322, 08074010580

ARMED FORCES REMEMBRANCE DAY CELEBRATION... L-R: Wife of the General Oﬃcer Commanding (GOC) 81 Division, Mrs. Fejokwu; her husband, Major General Lawrence Fejokwu; Lagos State Governor, Mr. Babajide Sanwo-Olu; Commander, 9 Brigade, Nigerian Army Ikeja Cantonment, Brigadier-General Lander Saraso and his wife, Mrs. Saraso, during an interdenominational divine service in commemoration of Y2022 Armed Forces Remembrance Day celebration at the Chapel of Christ The Light, Alausa, Ikeja ...yesterday

Oil Defies 2022 Surplus Forecast, Continues Bullish Run on Fading Virus Fears May worsen inflationary pains by major consumers

Emmanuel Addeh in Abuja Although still early in the year, oil prices has started off 2022 on a positive note, defying experts' prediction of a ballooning surplus, instead surpassing $80 a barrel at the weekend. West Texas Intermediate crude in New York climbed five per cent during the week, despite closing lower by 0.7 per cent on Friday as it sold at about $80, while Brent, Nigeria’s benchmark oil, sold for around $82 per barrel This is as global demand shrugs off the Omicron variant of the coronavirus, while a host of supply constraints hit producers from Canada to Russia. With investment banks calling for higher prices and options contracts invoking the prospect of crude spiralling above $100, the commodity is threatening to intensify the inflationary pain felt by major consumers. But the rally was bad news for fuel-hungry countries like Nigeria with the Nigerian National Petroleum Corporation (NNPC) now paying more in petrol subsidy and negatively impacting its contribution to the federation account. Nigeria, a key OPEC member has also struggled to meet its oil allocation from the producers’ group, with flows of the oncekey export grade Bonny Light now trickling out with significant delays. Nigeria is pumping roughly 1.35 million barrels , the lowest figure in years. Likewise, Libya - which managed to pump more than one million barrels a day every month last year but is now producing about 25 per cent less than that. Goldman Sachs Group's head of Global Research, said that only two countries in the world - Saudi Arabia and the United Arab Emirates - can pump more today than they did in January 2020 before the pandemic really hit demand. “That could see the oil market tighten over the next three to six months,” he said. Morgan Stanley expects Brent to climb to $90 a barrel by the third quarter and estimates

that observable stockpiles fell by about 690 million barrels last year. "We suspect that further strength lies ahead,'' analysts at the bank said. "With the prospect of low inventories and spare capacity by the second half, further demand recovery into 2023, and still limited investments being made, the oil market appears to be heading for a period with little margin of safety," he added. Internationally, rising prices would also be a big blow to US President Joe Biden, who invested a lot of time and effort in orchestrating a global release of strategic petroleum reserves, Bloomberg reported. "The bullish sentiment has regained the narrative,'' said Mr Michael Tran, a commodities strategist at RBC Capital Markets. "With improving demand, tightening inventories, and questions of OPEC’s ability to ramp further, the directional arrows of progress point to further optimism,'' he added. Movements in the price of oil are felt more keenly and quickly than that of any other commodity because they pass almost immediately into the cost of end-products such as petrol, diesel and jet fuel. While Nigerians wait with apprehension for the planned removal of subsidy in the New Year, this month, there were riots across Kazakhstan after the government there allowed the price of liquefied petroleum gas - a key road fuel - to surge. The dynamic means prices will be monitored closely by central banks that are trying to keep a lid on inflation while at the same time fostering economic growth as nations emerge from the Covid-19 pandemic. In terms of petroleum demand, the Organisation of Petroleum Exporting Countries (OPEC) and its producer-nation allies have signalled that they are confident the virus will not derail the recovery, and will continue with their strategy of gradually restoring output halted during the pandemic. While the group still says it

believes markets are tipping back into oversupply, its forecasts for this quarter have turned markedly less pessimistic as supply growth from its rivals disappoints. The alliance sees an excess of 1.4 million barrels a day in

the first quarter, 25 per cent less than its projection a month ago. It anticipates a rebound of 4.2 million barrels a day in global consumption this year, and demand topping 100 million barrels a day by June. But a deep freeze in Canada

and the northern US is disrupting oil flows, boosting prices just as American stockpiles decline even as Russia failed to boost oil output last month despite a generous ramp-up in its OPEC+ quota. As well as headline prices,

the forward curve for oil has turned more bullish too, with more-immediate contracts commanding larger premiums to later months, an indication that buyers are willing to pay higher to secure barrels more quickly.

Edo’s Ossiomo Power, FG Conclude Power Supply Agreement The Edo State Government’s Public Private Partnership (PPP) initiative, Ossiomo Power, has concluded an agreement with the Benin Owena River Basin Authority for the supply of electricity to the authority’s facilities. Managing Director, Ossiomo Power, Dr. Uwa Igiehon, who disclosed this in a chat with journalists, said the development was another milestone for the government-backed power

initiative. According to him, “The Benin Owena River Basin Authority, which is a Federal Government agency, had been cut off from the National Grid for nearly four years. The community where it is located had been without electricity for that long. “However, when we completed our new 40MW plant, we provided electricity to Obayantor and Ologbo communities as well as the

Benin Industrial and Enterprise Park. The Benin Owena River Basin Authority is located in the same area so we reached an agreement to connect them to our plant.” He noted that the power supply agreement would provide power to the facilities at the federal government-owned institution to enable it live up to its mandate. Igiehon said the company has an embedded power license as

well as a willing-buyer, willingseller license, which empowers it to sell electricity generated at its plant to companies and individuals willing to pay for power in its area of coverage. He expressed appreciation to the Edo State Governor, Mr. Godwin Obaseki, who instituted proactive policies in the electricity sector in the state to facilitate the company’s investment in power generation.

ECOWAS Imposes Further Sanctions on Mali Junta Suspends all commercial, financial transactions between country and member states, freezes assets Seeks AU, UN, others’support on enforcement Peter Uzoho The Economic Community of West African States (ECOWAS) has announced further sanctions against Mali's military-dominated interim authority. The additional sanctions included the recall for consultations by ECOWAS Member States of their Ambassadors accredited to Mali; closure of land and air borders between ECOWAS countries and Mali; suspension of all commercial and financial transactions between ECOWAS Member States and Mali, with the exception of food products, pharmaceutical products, medical supplies and equipment, including materials for the control of COVID-19, petroleum products and electricity. Furthermore, ECOWAS announced its decision to freeze the assets of the Republic of Mali in sub-region’s Central Banks; freeze assets of the Malian State and the State Enterprises and Parastatals in commercial banks; suspension of

Mali from all financial assistance and transactions with all financial institutions, particularly, ECOWAS Bank for Investment and Development (EBID) and Banque Ouest-Africaine de Développement (BOAD). At the end of their extraordinary summit in Accra, Ghana, yesterday, the regional leaders also said the ECOWAS Military Standby Force would be readied for any eventuality. The Accra meeting followed the decision of the Col. Assimi Goita-led interim government to abandon an original transition timetable, which had included elections next month after the military coup that toppled the government of elected President Ibrahim Boubacar Keita in August 2020. Goita had led another coup in May 2021, which elicited sanctions and the suspension of Mali from ECOWAS. The summit's communique chaired by Ghana's President Nana Akufo-Addo and Chair of

ECOWAS Authority reiterated the bloc's opposition to the presence of private military contractors, a reference to Russia's support for Mali. Malian authorities had accused France of abandonment for reducing its forces in the Sahel and Mali. The French move forced the Bamako regime to approach Russia for support to deal with terrorists and Jihadist insurrections, especially in the northern and central regions. There are indications that the new sanctions could hit hard on land-locked Mali, especially ordinary citizens who might find it difficult to withdraw money from the banks with the ECOWAS freeze of Malian assets and finances at the West African Central Bank based in Senegal. While the sanctions could make life uncomfortable for the interim government, further destabilisation of Mali cannot be ruled out. The communique stated: “The Heads of State and Government

took note of the report of Dr. Goodluck JONATHAN, Former President of the Federal Republic of Nigeria and ECOWAS Mediator for Mali and the Memorandum on the political situation in Mali presented by Jean-Claude Kassi BROU, President of the ECOWAS Commission. The Authority commended the quality of the reports and the recommendations contained therein. “The Authority, during deliberations, regrettably observed the failure of the transition authorities in Mali to take the necessary steps for the organisation of the Presidential elections before 27 February 2022 and contrary to the agreement reached with ECOWAS Authority on 15 September, 2020, and the commitment in the Transition Charter. The Authority deeply deplores the obvious and blatant lack of political will from the transition authorities that led to the absence of any tangible Continued on page 66

MONDAY, JANUARY 10, 2022• T H I S D AY

NEWS

ARMED FORCES REMEMBRANCE DAY... L-R: Alake of Egbaland, Oba Adedotun Gbadebo; Bishop of Anglican Communion, Egba Diocese, Revd. Emmanuel Adekunle; Chairman, Nigerian Legion, Ogun State chapter, Mr. Olumuyiwa Orukotan; Governor Dapo Abiodun, his wife, Mrs Bamidele Abiodun; Deputy Governor, Engr Noimot Salako-Oyedele and Akarigbo of Remoland, Oba Babatunde Ajayi after the church service marking Armed Forces Remembrance Day at St. Peters Cathedral, Ake, Abeokuta...yesterday

Senate Uncovers N14.7bn Proceeds of Defunct PHCN 'Hidden' in Commercial Banks Deji Elumoye in Abuja The Senate has uncovered N14.7 billion proceeds of the defunct Power Holding Company of Nigeria (PHCN) allegedly hidden in commercial banks by Bureau of Public Enterprise (BPE). Its committee on Public Accounts made the discovery in the 2017 report of the Auditor General of the Federation (AuGF) currently being considered by the committee headed by Senator Matthew Urhoghide. The report alleged that the said sum was 'hidden' in commercial banks as at December 31, 2016, whereas the privatisation of PHCN was concluded in 2013. The AuGF had in the

report queried the BPE on the reported hidden account. The query read: "Audit verification and reconciliation revealed that the sum of N14,720,396,432.43, being proceeds from the privatisation exercise of Power Holding Company of Nigeria (PHCN) was reported in the Bureau’s Trial Balance to be in Commercial Bank Accounts as at 31st December 2016. "Whereas, the privatisation of Power Holding Company of Nigeria (PHCN) was concluded in 2013, the proceeds are yet to be remitted to Central Bank of Nigeria (CBN) Privatisation Proceeds Accounts. "The issue has been communicated to the Bureau via letter reference No.

Archbishop Martins Seeks End to Corrupt Practices Emma Okonji and Becky Uba Umenyili The Catholic Archbishop of Lagos, Most Reverend Alfred Adewale Martins, yesterday urged Nigerians to eschew evil and corrupt practices and exhibit attributes that would foster peace and progress in the nation. The Archbishop gave the advice during his homily, when he conferred the sacrament of confirmation on 160 candidates and also blessed the Chapel of Perpetual Adoration at St. Timothy’s Catholic Church, Ojodu, Lagos. The conferment of the sacrament of confirmation and the blessing of the Chapel were part of activities that marked the Archbishop’s one day pastoral visit to parish. He said decadence in the nation was caused by all sorts of evil deeds perpetrated against the progress of mankind, adding that the rejection of evil should be expressed better through sincere and objective lifestyle by the citizenry. He stressed the need for steadfastness and good conduct by everyone, despite the economic hardship in the country. According to him, despite the

hardship ravaging the economy presently, people should be charitable to one another in order to alleviate the pains of the people. He called on catholic faithfuls to follow the examples of Jesus Christ, as the church celebrated the feast of his baptism yesterday. He also admonished all the 160 candidates that received the sacrament of confirmation to emulate the exemplary lives of the saints, whose names they bear in baptism and confirmation. According to the Archbishop, the baptism of Jesus Christ was symbolic to reveal the identity of Christ and to prepare the Lord Jesus Christ for his pastoral mission on earth, several years ago. “The Sacrament of Confirmation, which you received today, will prepare you to follow the exemplary life of Jesus Christ and that of the saints whose names you took after,” Archbishop Adewale said. During the blessing of the Chapel, the Archbishop committed it to the hands of God and prayed that God in his infinite mercies, will always grant the petitions brought before him in the Chapel of Perpetual Adoration.

OAuGF/RESAD/05/2016/07 dated 19th April, 2018 and no response has been received. "Unauthorised funds kept in commercial banks may be diverted for other purposes, thereby leading to loss of revenue available for government programmes. "The Director-General is required to recover the sum of N14,720,396,432.43 being proceeds of PHCN and remit same to CRF and forward evidence of remittance to my

office for audit confirmation.” But, the Bureau of Public Enterprise (BPE) in its written response stated "Two separate sums of N3.231,984.73 (allegedly held in Fidelity Bank Plc) and N18.199,520.87 (reported as held in Stanbic Bank Plc) are unaudited bank balances that were actually no longer in existence as at the date of the audited financial statements or asked questions, the matter would have been clarified.

"With respect to the two other bank balances N4.4 billion (Access Bank Plc) and N10.2 billion in FCMB." “The correct balance in Access Bank as at 31/12/16 was NIL as the bank had transferred a swelled balance of $34.1 million to the CBN domiciliary Account. "The bank had initially been unable to make the transfer as at September 2015 as required under TSA policy, owing to the inexistence of designated

USD Treasury Single Account for dollar balances "The balance in the FCMB Bank as at 31/12/2016 was only $36,053.55 following a transfer of $65,088,198.53. "The residual balance remained until 18/95/17 due to inability of the bank to remit as required under the TSA policy owing to initial unavailability of designated TSA for USD balances as required under the then newly introduced policy".

NMA: There is No Basis for Equal Remuneration with JOHESU Members Accuses health sector union of blackmailing FG Onyebuchi Ezigbo in Abuja The Nigerian Medical Association (NMA) has insisted that there was no basis for the members of the Joint Health Sector Union (JOHESU) to demand for the same salary as medical doctors. It stressed that such demand was not in line with the standard practice worldwide. The National Publicity Secretary, Dr. Aniekeme Uwah stated this in a statement at the weekend. JOHESU had been pushing for salary adjustment for its members. It recently appealed to President Muhammadu Buhari to include the adjusted Consolidated Health Salary Structure (CONHESS) in the 2022 budget before passage threatening that any attempt to do otherwise would be met with stiff resistance. However, the NMA accused JOHESU’s leadership of attempting to blackmail the Director of Hospital Services of the Federal Ministry of Health over welfare issues affecting her members. In its reaction to the threat by JOHESU leadership that they would no longer take part in negotiations with the federal government if doctors were involved, NMA said that it has no objection to it as far as facts and international standard were

presented and applied. NMA said JOHESU's position which was contained in a letter with reference No. HQ/ JOHESU/ADM/FMoH/VOL. IIT/045 dated 16th December, 2021, and signed by the Acting National Secretary of JOHESU, Matthew Ajorutu was uncalled for. The doctors said the leadership of JOHESU was becoming increasingly, "physicianphobic" and "dysociopath." NMA stressed that JOHESU must learn to trust and accept international best practices on remuneration. "JOHESU is free to negotiate with anybody. Physicians are not afraid of this provided that the facts and international standard are presented and applied,” it added. In the statement, the NMA said it was worthy to note that doctors in administrative positions had worked hard to create a healthy balance in welfarism between physicians and allied health orofessionals in the Health Sector. It said in an attempt to placate JOHESU, the doctors had bent backwards by recommending relativity in emoluments below what is obtainable for physicians internationally to the disenchantment of members of the NMA. The NMA also accused

JOHESU leadership of insatiable appetite for spreading misinformation and disinformation, "It is no surprise therefore that JOHESU threw caution to the winds once more by attempting to emotionally blackmail the Director of Hospital Services (DHS) FMOH on welfare issues affecting her members. This is a well-known strategy of JOHESU after failing in discussions oiled in hard evidence,” the NMA further stated. "There is no basis for JOHESU to ask for the same salary as for Medical Doctors as this is not the standard practice worldwide. JOHESU knows that there is a relativity agreement between the Federal Government and the NMA on CONHESS and CONMESS. “If the office of the DHS, FMOH drew the attention of the federal government to the extant agreement on call duty allowance as signed in 2001 and basic salary as corrected and signed in 2014, she is only stating the obvious facts and should be commended for her due diligence. "The federal government, the Federal Ministry of Health (FMOH) and the Federal Ministry of Labour and Employment (FMOLE) know the implications of breaching the agreement on relativity.

“As a reminder, the NMA is not opposed to any salary increase, adjustment or variation for JOHESU and her members provided that such action and identical values are applied to CONMESS to sustain the agreement with NMA. "Furthermore, the current DHS and her staff are among the most meek and considerate officers in the Federal Ministry of Health. Therefore, if JOHESU cannot trust and work with her, then it can't work with anyone in the entire Civil Service of the Federation. "We believe she has resisted the “Nigerian factor” hence this vituperation by JOHESU because that is JOHESU's stock in trade," the NMA explained. It noted that if anyone was to be unhappy, it should be the physicians who, according to the statement, were being shortchanged by the deliberate refusal of the federal government to apply internationally accepted relativity in the remuneration of health workers in Nigeria. The NMA said by making insinuation not to enter into negotiation with the federal government if doctors were involved, JOHESU implied that such decisions would be extended to the Ministers of Health and that of Labour and Employment because they are also physicians.

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Wike Declares 19 Illegal Crude Oil Refineries’ Owners Wanted Blessing Ibunge in Port Harcourt

Rivers State Governor, Mr. Nyesom Wike has declared 19 persons wanted for allegedly owning illegal crude oil refining sites in the state. The governor recently declared war on all activities responsible for the environmental pollution (black soot) in the State. The governor also directed the Rivers State Head of

Service to query one Mr. Temple Amakiri, a Director in the Ministry of Energy, for abetting bunkering activities and hand him over to the police for investigation and possible prosecution. Wike, in a state broadcast yesterday, said the state government had resolved to pragmatically tackle the soot pandemic by destroying and closing down all identified illegal crude oil refining sites and activities in the State. He stated that following

his 2022 New Year Message outlining measures to tackle the black soot menace, the State Taskforce on Illegal Street Trading raided some illegal crude oil refining sites in Port Harcourt and arrested a number of suspects. The governor stated: "Furthermore, the following persons who have been identified as kingpins of bunkering and illegal crude oil refining activities in their communities have been declared wanted and

directed to report themselves to the State Police Command, to whom we have already passed their details to: "Mr. Azubike Amadi, OSPAC Commander, Ogbogoro community and Chairman of Akpor Central OSPAC; Mr. India, of Rumuolumeni community and Chairman of Oil bunkering Association in Akpor kingdom; Mr. Okey who is in charge of Oil bunkering in Rumupareli; Mr. Anderson, who is in charge

Dikio: Niger Delta is Most Secured Region in Nigeria Blessing Ibunge in Port Harcourt The Interim Administrator, Presidential Amnesty Programme (PAP), Col. Milland Dixon Dikio (rtd), has described the Niger Delta as the most peaceful and stable region in the country for people to live and do business. Dikio made the remarks after receiving an award for repositioning PAP at the Niger Delta Media Awards organised by the GbaramatuVoice newspaper, held in Warri, Delta State. He was honoured with a

merit award for the excellent ways he had coordinated the amnesty programme since he came on board, leading to sustainable peace in the Niger Delta region. Represented by his Special Adviser on Media, Mr. Nneotaobase Egbe, Dikio said, "Going by statistics, the Niger Delta region is currently the most secure and stable place to live and do business. "We call on all stakeholders to work on their mindset to see and sell a Niger Delta as the best place to live and do business in Nigeria". Dikio, therefore, urged

media practitioners to report the many positive sides of the region and avoid feasting on issues capable of demarketing the people and the area. "No one can tell your story like you do. Tell the story of the wealth of the Niger Delta beyond the oil. There’s immense human and natural resources in the region; the region is not all about the oil", he said. He further advised journalists to balance their reports by being objective lamenting that the Niger Delta had suffered greatly from negative reports and bad publicity.

Dikio insisted that the Niger Delta region had the most talented and most resourceful persons, adding that entertainment and creativity were domiciled in the region. He noted that media practitioners were not celebrated enough, considering their efforts and commended GbaramatuVoice newspaper for the initiative. In his remarks, Publisher of the GbaramatuVoice newspaper, Jacob Abai, acknowledged the role journalists played over the years, in the success stories of the Niger Delta region.

Sanwo-Olu Resolves Lagos Nurses' Industrial Crisis Governor Babajide SanwoOlu has held a closed-door meeting with members of the Nigerian Association of Nurses and Midwives, Lagos State Council, with a view to addressing the complaints of the health workers. The meeting was held yesterday, at the State House, Marina.

According to a statement, the meeting was called by the governor to address the grievances of the nursing workforce in the State. At the end of the two hours meeting, both the government and the union agreed on a number of issues that had been causing disaffection between the two parties.

Sanwo-Olu pledged government's sincerity in the implementation of all that was agreed on, “to the delight of the representatives of the nurses.” On his part, chairman, Lagos State Council of the Nigerian Association of Nurses and Midwives, Olurotimi Awojide thanked Sanwo-Olu

for acceding to most of their requests. He described the governor as a true leader and father who cares about his children. Awojide promised to call an emergency congress of the association today, where the union would announce her decision to call off the planned industrial action.

of oil bunkering activities in Ogbogoro community; Amadi Gift of Ogbogoro community; Azeruowa of Ogbogoro community; and Kingsley Egbula, also of Ogbogoro community. "Also declared wanted are the following persons who are alleged to be in charge of oil bunkering activities in Isiokpo community: Mr. Kemkom Azubike, Mr. Mezu Wabali, Mr. Chigozi Amadi, Mr. Opurum Owhondah, Mr. Bakasi Obodo ,Mr. Opus, Mr. Galaxi Mas, Mr. Chioma, Mr. Ogondah, Mr. Soldier, Mr. Chefo, and Nkasi. "We have also identified those behind illegal bunkering activities in Okrika communities, Port Harcourt Township, Rivers South-East and Rivers South-West Senatorial Districts and their names would be soon published and declared wanted, if they fail to voluntarily report to the police." He urged residents of the state to report those involved in illegal crude oil refineries and other illegal activities to the Task Force already set up at the State and Local Government levels for immediate action.” Wike also reaffirmed the total ban on the use of motorcycles in Obio/ Akpor and Port Harcourt councils, stating that it was necessitated by the collective threat they posed to the security of lives and property. "Any person or corporate entity that requires the use of motorcycle for any lawful purposes must therefore first apply to the office of the governor for permit and proper documentation of the operational details and particulars of both the motorcycle and designated rider(s).

"Against this background, we are hereby issuing the final warning to all those operation motorcycles shuttles and or hawking foreign exchange along Birabi Street, Hotel Presidential, GRA junction by Zenith Bank up to Tombia Street to immediately leave or be arrested and prosecuted." The governor accused the traditional leadership, including members of Community Development Committees and youth leaders of Rumuola, Rumuogba and Okoronu-odo communities of collecting money from vendors and allowing street trading activities around and under the flyovers in these communities. "Consequently, I hereby direct the traditional leadership of Rumuola, Rumuogba and Okoronu-odo communities to immediately stop all street trading activities around, in or under the flyovers in their respective domains or be deposed, arrested and prosecuted,” he added. Wike also placed a total ban on the use of umbrella and table trading stands in the entire old and new GRAs of Obio/Akpor and Port Harcourt City, Eleme councils. According to him, government has credible evidence that most the purported traders in front of houses were informants who monitor and pass on vital details and information on the daily movement of very important persons to their criminal collaborators. Wike frowned at the failure of the Rumuokurushe traditional leadership to honour the terms of their undertaking not to allow any form of street trading on the Rumuokurushe market.

ZAMFARA KILLINGS: ATIKU URGES FG TO RAMP UP SECURITY AS FAROUQ DECRIES SITUATION Governor, Prof. Babagana Zulum, always offered logistics and other supports to the Nigerian Army in the ongoing war against Boko Haram insurgents without being asked by the military authorities. Over 500 fleeing bandits on motorcycles had reportedly attacked five villages and razed their homes, after killing over 200 of the people, recently. Reacting to the development, Atiku in a statement, said, "I expect that security be ramped up to stem this waste of precious human lives." The former vice president explained that, "When I expressed my deepest condolences to the people and government of Zamfara State on the 6th of January over the senseless killing of innocent citizens in Bukkuyum and Anka Local Government Areas of the state, little did I know that the tragedy that befell the people was far worse than envisaged." He said it was heartbreaking to have dozens of innocent citizens killed in just one day, lamenting: "It is a traumatic experience to imagine. Even as I sympathise with people in the affected families and the affected communities, yet again, as

they bury their dead, I expect that security be ramped up to stem this waste of precious human lives.” Farouq, in a statement, condemned the atrocity that followed the invasion of five communities and killing of over 200 people in Anka and Bukkuyum local government areas of the state as horrific and tragic. Over 200 persons were buried today (Saturday) due to the invasion by bandits. We are very saddened by this incessant invasion and killings by bandits and we also worry about the displaced persons, who are fleeing in their hundreds from their communities, especially, the women and children. “We sympathise with the government and people of Zamfara State in this trying

period and condole with the families of the dead. We pray for the repose of their souls and that peace returns to the state and soon as possible," she said. She, however, directed that relief materials be sent to the Internally Displaced Persons in the state to cushion the effects of the sudden displacement. Reports say more than 10,000 victims had been rendered homeless after their homes were razed by the bandits while scores were still missing. Meanwhile, Eyitayo, spoke glowingly yesterday about Zulum, where he noted that his support had gone a long way in enhancing the military operation in the Northeast. Eyitayo, speaking during Zulum’s visit to the

headquarters of the 7th Division of the Nigerian Army in Maiduguri during a social gathering organised by the army to celebrate the acting GOC’s recent promotion to the rank of a Major General, said the governor had always come to their aid. “Severally, without being prompted, you (Governor Zulum) come to our aide to support us (the army) even logistics wise. Through your persistence and unrelenting cooperation and assistance, you have one way or the other, turned the spirit of the soldiers into fighting machines,” he said. The GOC, therefore, requested Zulum to convey the gratitude of his officers to President Muhammadu

Buhari and the Chief of Army Staff for identifying and promoting deserving soldiers involved with the fight against Boko Haram in Borno State, which he indicated, was highly encouraging. In his response, Zulum congratulated the acting GOC and other recently promoted military officers, saying the people of Borno shared the good moment and were happy with it The governor said officers and personnel of the military and other security establishment deserve to be supported and encouraged, even as he described their duties as tough, hence, the need for not only support by states, for increase in their entitlements, when

the economy permits such considerations by the federal government. Zulum credited his administration’s numerous efforts to the peace-building role of the military, which he said, had led to the safe resettlement of about 18 communities across Borno. He said with continued peace-building, more communities would be safely resettled, while some major roads, such as MaiduguriDamboa road would be opened for the safe use of motorists. Zulum was accompanied to the function by commissioners of Agriculture, Bukar Talba; his sports and youths empowerment counterpart, Sainna Buba and that of transport, Abubakar Tijjani.

by volume) accounted for 1.349 billion shares worth N51.253 billion in 1,120 deals, contributing 67 per cent and 86.85 per cent to the total equity turnover volume and value respectively. According to analysts at Cordros capital, “In the near term, we believe positioning for 2021FY dividends will continue to support buying activities in the market even as institutional investors

continue to search for clues on the direction of yields in the FI market. “However, we advise investors to take positions in only fundamentally justified stocks as the weak macro environment remains a significant headwind for corporate earnings.” Analysts also believe that the early passage of the 2022 budget would be positive for the stock market.

STOCK MARKET GAINS N1.33TRN IN FIRST TRADING WEEK respectively, while the NGX ASeM and NGX Sovereign bond indices closed flat. Activity levels were strong, as trading volume and value surged by 103.7per cent w/w and 246.8per cent w/w, respectively. Meanwhile, a total turnover of 2.027 billion shares worth N59.014 billion in 15,750 deals were traded last week by investors on the floor of the Exchange, in contrast to a

total of 995.361 million shares valued at N13.209 billion that exchanged hands prior week’s 10,264 deals. The Consumer Goods Industry (measured by volume) led the activity chart with 1.255 billion shares valued at N 51.973 billion traded in 2,581deals; thus contributing 61.90per cent and 88.07per cent to the total equity turnover volume and value respectively.

The Financial Services Industry followed with 537.959 million shares worth N4.627 billion in 8,015 deals. The third place was The ICT Industry, with a turnover of 76.906 million shares worth N704.346 million in 933 deals. Trading in the top three equities namely BUA Foods, Wema Bank Plc, and Transnational Corporation of Nigeria Plc (measured

MONDAY JANUARY 10, 2022 • T H I S D AY

MONDAY, JANUARY 10, 2022 • T H I S D AY

NEWS

PRAYING FOR PEACE IN NIGERIA... L-R: Kano State Governor, Alhaji Abdullahi Ganduje; World leader of Tariqatul Tijjaniyya, Sheikh Ali Arabi, and Emir of Kano, Alhaji Aminu Ado Bayero, during the leader's visit to Kano, to pray for Nigeria ... recently

Nigeria’s Vision Demonstrates Commitment to Paris Agreement Implementation, Says FG Michael Olugbode in Abuja The federal government at the weekend said Nigeria’s 2050 Long-term Low Emission Vision document was a demonstration of the nation’s commitment to play a leading role in the implementation of the Paris Agreement.

Minister of State for the Environment, Chief Sharon Ikeazor, made this assertion sequel to the formal publication of Nigeria’s Long-Term Vision (LTV) document by the Secretariat of the United Nation’s Convention for Climate Change (UNFCCC). Ikeazor described the

2023: Sanusi Urges Nigerians to Get Voters Card, Elect Competent Leaders Ibrahim Oyewale, Lokoja The President General Jam’iyyatu Ansariddeen (Attijaniyya), Nigeria and former Emir of Kano, Sanusi Muhammad Sanusi ll, has advised eligible voters in Nigeria to get their permanent voters' card (PVC) and ensure that they vote in only the best and competent candidates in all positions in the 2023 general elections. Sanusi made this call at the weekend, while speaking in Lokoja, at the last day of a three-day Annual Conference of the 4th Nigeria World Maulid Anniversary, in honour of the Holy Prophet Muhammad, with the theme: “The Prophetic Solutions to the Questions of Humanity.” The conference was organised by Jam’iyyatu Ansariddeen (ATTIJANIYYA), under the leadership of His Spiritual Eminence, Sheikh Muhammad Mahi Ibrahim Niass, the Grand Khalifa Worldwide. The former Emir of Kano urged the group to vote for the best and only competent persons in every position irrespective of political party or religious affiliations. ''If our youths get employed, the economy of the entire country will be improved. Most importantly, we are not a political party, but we cannot fold our arms and ignore politics. ''Every member of Attijaniyya from 18 years old and above, male or female, go and get your voters card. Allah commands you that you should place trust

in the hands of those people who are trustworthy. ''Now, we are at time where those who appoint leaders are the people, your vote is your power, you have a responsibility. I am not saying you must vote only for member of Attijaniyya, Muslim, or for any political party; you are to vote for every position the best person that is most competent,'' he said. He added: ''If you don't take this responsibility you have betrayed Islam. We must preserve the unity of this country to ensure self-reliant, education peace and unity.'' He commended Governor Yahaya Bello for hosting the conference, and for accepting their request for provision of land in the state to build an International Islamic Centre to honour Sheikh Muhammad Ibrahim Niass. He emphasised that the movement was using the opportunity to pray for peace, unity and betterment of the country and for its leaders to do the right thing. He stressed the need to continue to promote peace, pray and eschew extremism, saying no matter the difficult situation, Allah was able to see the country through. ''We must as Attijaniyya wake up because we have been slumber for too long. We must therefore not relent in our prayers for this country. We need to educate our children,'' he said. In his remarks, the Kogi State Governor described the conference as a historic day for him and the people of Kogi State and Lokoja.

document as a landmark for actualising Nigeria’s quest for mitigating the negative effects of climate change and a road path to meeting its decarbonation targets. She said: “I am happy that the LTV document has been published by the UNFCCC and I wish to express our appreciation to the 2050 Pathways that funded the Vision and all the stakeholders that contributed to the Vision,” while recalling that a key part of the Paris Agreement was the invitation to parties, “to formulate and

communicate by 2020 long term low greenhouse gas emission development strategies.” Ikeazor explained that the LTV 2050 was the initial step towards development of the Long-Term Strategies (LTS) which explores options to lower GHG emissions and contribute to the objective of reaching net-zero GHG emissions globally around the middle of the century. He explained that: “It provides a clear sense of direction for a well-managed transition to a low-carbon economy that grows existing and new sectors and

creates new jobs and economic opportunities for the nation. “The LTV communicates the vision that by 2050, Nigeria is a country of low-carbon, climate-resilient, high-growth circular economy that reduces its current level of emissions by 50 per cent and moves towards having net-zero emissions in the second half of the century across all sectors of its development in a genderresponsive manner.” According to the Minister, the next step would be the development of the Long-Term

Low Emission Development Strategy (LT-LEDS) which would develop scenarios and models that helps to translate the vision document into quantified emission reduction targets together with technology options and costs implications. She added: “I am looking forward to the development of the LTS to compliment Nigeria’s Energy Transition Plan and provide options for meeting decarbonization target as announced by President Muhammadu Buhari at COP 26 in Glasgow.”

Consultant: Expunge Law Empowering Finance Minister to Collect, Administer Stamp Duties Alex Enumah in Abuja A consultant, Mr. Uzoma Ubani has written the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, faulting the 2021 Finance Act, which empowers the Minister of Finance to collect and administer Stamp Duties in the country. In the letter dated January 7, 2022, Ubani claimed specifically that Section 27 of the Finance Act 2021, runs contrary to the Stamp Duties Act as well as the constitution, hence the need to expunge the law in its entirety. “We respectfully write to bring to your attention and inform you that the provisions of Section 27 of the Finance Act, 2021, which took effect on January 1, 2022, is in conflict with the provisions of Sections 3 (3), 111, 115 and 116 (2) of the Stamp Duties Act, 2004, as amended and also inconsistent with the provisions of Section 163 of the Constitution of the Federal Republic of Nigeria, 1999, as amended and it is therefore null, void and of no effect whatsoever, as the powers purported to have been conferred on the Federal Minister of Finance, have already been conferred on the President or the Governor of a State under the above mentioned provisions of the Stamp Duties Act. "More so, the distribution of Stamp Duties revenue is based on Derivation pursuant to the provisions of Section 163 of the

said Constitution," he said. According to Ubani, only the stamp duties and Electronic Money Transfer Levy (EMTL) that is collected by the federal government through the Federal Inland Revenue Service (FIRS), pursuant to Section 4 (1) of the Stamp Duties Act, should be distributed according to derivation, pursuant to Section 163 of the constitution. He disclosed that while the different states of the federation should collect stamp duties and EMTL, pursuant to Section 4 (2) of the Stamp Duties Act, the Deposit Money Banks (DMBs) and Financial Institutions have refused to comply with the law, based on the purported FIRS Press Release captioned: “Clarification of Administration of Stamp Duties in Nigeria” and the Central Bank of Nigeria (CBN) circulars referenced CBN/GEN/DMB/02/006, dated 15/1/2016, and PSM/ DIR/CON/CWO/07/066 dated 8/5/2020, which according to him are not laws and have no binding effect whatsoever. "Section 27 of the Finance Act, 2021, is a blatant illegality in a tainted legislation and it is therefore unconstitutional. The Minister cannot have such powers, neither does the National Assembly, without a Constitutional amendment. Therefore, the provisions as currently contained therein should be voided and expunged in its entirety.

"Section 1 (1) of the Constitution of the Federal Republic of Nigeria, 1999, as amended, proclaims its supremacy. Section 1 (3) of the said Constitution further provides that if any law is inconsistent with the provisions of the Constitution, the Constitution shall prevail, and that other law shall, to the extent of the inconsistency be void", part of the letter read. Moreover, the letter further claimed that the provisions of Section 27 of the Finance Act, 2021, was aimed at or targeted at stamp duties accruable to the different states of the federation under Section 4 (2) of the Stamp Duties Act, 2004, as amended by Section 53 (b) of the Finance Act, 2019, and was therefore void to the extent that it purports to take over the administration and collection of stamp duties and EMTL under Section 4 (2) of the said Stamp Duties Act, in total disregard to the separation of powers enshrined in Section 4 of the SDA, and contrary to the provisions of Section 163 of the Constitution of the FRN, 1999, as amended. Ubani also argued that even if the FIRS were to be the only competent authority to collect stamp duties and EMTL paid through the banks’ platform, such duties/levies collected are "not by law", to be paid into the Federation Account as clearly stated in paragraph 7 of the said FIRS Press Release

on Stamp Duties collections and remittances in Nigeria. He submitted that all FIRS could do according to the law, was to return net proceeds of such collection to the states of "derivation" after deduction of administration costs, as fixed by the Fiscal Responsibility Act, as amended, and the recent Senate resolution. "This being the case, it appears that the solution and only way out in the circumstance, is for Deposit Money Banks and Financial Institutions to start forthwith, to remit stamp duties and EMTL collected from instruments initiated and executed or transactions initiated and carried out between persons or individuals pursuant to Section 4 (2) of the Stamp Duties Act, directly to the states of the federation in line with the Law and the arrears distributed according to derivation to each of the different states of the federation. "It is important to note by all concerned, that Stamp Duties and Capital Gains Tax Revenue are special revenue in the eyes of the 1999 Constitution and as such cannot be treated like every other revenue streams in Nigeria. “It must be treated exactly in line with the dictates of the relevant provisions of the Constitution. Anything short of that would be acting outside the Law and/or ultra vires of its powers," he added.

MONDAY JANUARY 10, 2022 • T H I S D AY

MONDAY, JANUARY 10, 2022 • T H I S D AY

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CONDOLENCE VISIT TO LATE IBRAHIM'S FAMILY... L-R: Daughter of the late Chief of Naval Staff (CNS), Mrs. Zainab Adeitan Ibrahim; the wife, Mrs. Grace Ibrahim, and Chief of the Naval Staff, Vice Admiral Awwal Gambo, presenting a condolence letter to the widow of the late former CNS, Admiral Ishaya Iko, during a condolence visit by the CNS and his management staff to the late CNS’ family in Abuja... recently

Nkire: APC Returning to Power in 2023 Depends on Choice of National Chair Nseobong Okon-Ekong, Onyebuchi Ezigbo and Adedayo Akinwale in Abuja A chieftain of the All Progressives Congress (APC), Chief Sam Nkire, has said the chances of the ruling party retaining power in 2023 depended on the choice of its national chairman in the proposed February national convention of the APC. This is as the National Chairman of the APC Caretaker Committee and Governor of Yobe State, Mai Mala Buni, has concluded plans to lead the Gombe State Governor, Inuwa Yahaya and top shots of the party to meet with Senator Danjuma Goje, over the reorganisation of the party structure in the state this week. In a related development, APC stakeholders in Nasarawa State, have declared their support for the Chairmanship aspiration of Mallam Saliu Mustapha, even as the posters of one of the chairmanship aspirants, Alhaji Sani Abdulahi Shinkafi, has flooded the Federal Capital Territory (FCT), Abuja. However, Nkire, in a statement yesterday said the type of chairman that APC needed for the battle in 2023 must be a man or woman nationally known in the country, a strategist, a fighter and a winner. "The choice we make for National Chairman of the APC, during the forthcoming National Convention, will make or mar our chances of returning to power in 2023. "The whole world has seen the card our opponents, the PDP played in choosing Senator Ayu,as its natural chairman; it is now left for us to play the joker," he said. Nkire, however, echoed what President Muhammadu Buhari said, that the ruling party might lose to the Peoples Democratic Party (PDP) if the

party failed to get its acts together by choosing the right man or woman for the job. He was of the view that there was no reason why the ruling party not retain power in the next general elections, if party leaders would heed Buhari's advice to carry along a majority of members, in deciding who represents the party at all times. Meanwhile, Buni’s assignment to Gombe was said to be part of the resolutions reached at the Abuja meeting, where he and other leaders of the party reconciled Yahaya and Goje. Yahaya and Goje had been at daggers-drawn over the control of party structure in the state. The crisis trailing the congresses of the ruling party in Gombe was ballooned following the attack on Goje’s convoy in the state last year. To reconcile the two politicians, Buni, last Wednesday, led party’s top shots to the residence of Senator Abdullahi Adamu in Abuja, where Yahaya and Goje were reconciled. At the meeting attended by a former Speaker of the House of Representatives, Yakubu Dogara, senators and former governors of Borno State, Senator Kashim Shettima and Sullivan Chime of Enugu State, among others, it was resolved that the peace pact should be implemented in two folds. A source at the meeting hinted THISDAY that Yahaya and Goje were urged to sheath their swords and allow peace to reign. “The party leaders appealed to both Governor Yahaya and Senator Goje to allow peace to reign in line with Islamic teachings,” he said. The source, which pleaded anonymity said the second leg of the peace pact was that the congress of the party conducted in Gombe State, where allies of

Goje were edged out, should be realigned to accommodate supporters of the former governor. “The governor and the senator agreed to this. This was the second phase of the outcome of the peace meeting,” he added. Another claimed it was resolved that Buni should lead Gombe governor, his Borno State counterparts, Babagana Zulum, his predecessor, Shettima to meet with Goje at his Abuja residence this week. “It is expected that the reorganisation of the party structure in Gombe would be done during the meeting at Goje’s residence in Abuja,” the source, a lawmaker said. However, a few days after a former secretary to the Nasarawa State government, Mr. Phillip Dada, pledged to rally support for Mustapha in a

bid to realised his chairmanship aspiration, the aspirant, in a statement yesterday by the Head of his Media Office, Mr. Dapo Okubanjo, said stakeholders made this known when they visited him in Abuja. He said the delegation was led by APC Chairman in Keffi, Mr. Mohammed Soja, noting that the stakeholders were emphatic on their readiness to back the former Deputy National Chairman of the Congress for Progressive Change (CPC). Soja was quoted as saying many of them believed that Mustapha deserved the position based on his antecedents as a party administrator in his CPC days and his clean record of performance. "You are well deserving of the position, you have the experience and age is on your side. You are humble and

welcoming to everyone. We know of your antecedents since the CPC days and we strongly believe this is your time to move our party forward. "We know that you are a formidable contender and we are convinced that even if the party's national leadership eventually opts for consensus, you would be the favoured candidate," he added. Responding, Mustapha reaffirmed his position on equity and justice, saying, "I have said it before and I will say it again, on my watch as party chairman, there will be a level playing field for all. No popular candidate will be denied the chance to represent the party provided that they duly emerge in line with party guidelines," he assured. Yet, posters which boldly bore Shinkafi’s pictures and name surfaced yesterday in

Abuja and were strategically posted on public infrastructure like traffic kiosks, bus stops in Garki, Central Area, Maitama, Wuse 11 Gwarinpa Airport Road around APC National Secretariat and Shehu Shagari way opposite Federal Ministry of Justice in the FCT. Shinkafi had on October 26th, 2021, declared his intention to run for the APC national chairmanship. He had in his notification letter to Buni stated that, “After wide consultations and discussions with my family, friends and political associates, I have decided to heed the call to contest for the office of the National Chairman of our great party the APC". Shinkafi had served variously as the National Secretary and Secretary of the Board of Trustees of the All Progressive Grand Alliance (APGA) before joining the APC.

Ozekhome Blasts FG over Magodo Estate, Zamfara Killings Olawale Ajimotokan in Abuja Human rights lawyer, Dr. Mike Ozekhome has rebuked the federal government for resorting to brute force in the handling of the Magodo Estate issue between the Lagos State Government and the estate owners. The constitutional lawyer gave the scathing criticism while appearing yesterday as a guest on THISDAY Live Talkshow on ARISE News Channel. He said the Magodo incident where a Chief Superintendent of Police Abayomi Oyewole, openly refused to take order from Governor Babajide SanwoOlu of Lagos State, only threw up the option of having state police in the country. He noted that the 1999 Constitution and section 105 of the 1963 Constitution, empowers the four regions to

have regional police while the federal government operated a central police. Historically, he said state police began in 1861 when the colonial government set up a local constabulary police Force under Mr. Foot. Ozekhome asserted that the Magodo tussle could have been resolved without one organ of government trying to show brute force. He said the action of the Attorney General of the Federation and Minister of Justice Abubakqr Malami did not advance democracy and democratic tenets, saying the minister rather employed force over a matter that was determined nine years ago by the Supreme Court. “Before going there did the AGF use rapprochement or diplomatic engineering by calling the Governor to enquire about the enforcement but

suddenly decided to move in the police because he is in control of police under sections 214 and 215 of the 1999 Constitution," he added. He insisted there was nowhere in the 2012 ruling of the Supreme Court did the apex court order the dislodgement of the present Magodo occupants from the land. “It was even a wrong interpretation that did not say they should go and dislodge the present occupants from that land. It was a wrong interpretation. The Supreme Court said the Sangisha land owners, whose lands that were originally taken by Lagos State government and given to Magodo residents should have the first option of choosing from any allocation or reallocation by the governor. “What this has, therefore, done is to throw up the issue

of state police and community police to give power to the people. Allowing state police and bringing about community police will bring allow the people to know themselves. Crime will also be easily detected,” Ozekhome said. The lawyer flayed the federal government of abusing the police when Justice Kolawole of the then Federal High Court, now of the Federal Court of Appeal gave an order that leader of Shiites sect, Sheik Ibrahim El-Zakzaky and his wife be released from prison and a house be built for them if they were deemed dangerous. “Did the AGF and federal government respect that court order? Of course not, because the police was in their hand and nobody could deploy any agency to enforce that judgment. Then again, federal government disobeyed order in the case of Dasuki.

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COMMENT

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

TAMBUWAL: ANNUS MIRABILIS AND NIGERIA’S DEMOCRATIC JOURNEY Paul Obi pays tribute to Sokoto State Governor Aminu Tambuwal at age 56

“The good news, to relieve all this gloom, is that a democracy is inherently self-correcting. Here, the people are sovereign. Inept political leaders can be replaced. Foolish policies can be changed. Disastrous mistakes can be reversed.” - Theodore C. Sorensen

t was the British poet, John Dryden who anglicized the latinate usage of the word - annus mirabilis (a wonderful year) to re-enact the British naval conquest of the Dutch and other medieval victories over Normandy. Today, the year 2022 could also fall within the same threshold for Nigeria. Or the country could plunge from annus mirabilis to annus horribilis - a monstrous year, specifically, as 2023 beckons. Nigeria’s path to a great nation-state has come under severe threat since President Muhammadu Buhari’s administration came on stream in 2015. Seven years down the road has been ruinous and excruciating for citizens. From economy, security, politics, growth, development and innovation, retardation has taken sway. Yet, with all these quagmire, Buhari’s remedy for what ails Nigeria is for us to go back to the farm - “to return to the land.” Therefore, to chart a new course, 2022 offers some hope, that Nigeria can rise above the All Progressives Congress (APC) ghoulish orchestra and set the country on a new path towards a better negotiated Nigeria. Then, 2022 comes with the fortunes of life, hope, promises, a renewed desire to reset Nigeria to its fertile field. To unify a polarized nation. To mend its battered micro and macro economy; to return not to Buhari’s archaic and medieval farmlands, but to 21st century winning ways, driven by big tech, innovation and mobile youthfulness. Thus, in 2022, the signposts of annus mirabilis are alive and kicking, waiting to be tapped into, and unearth great potential of nationhood. It calls for the urgency to retool Nigeria from the seven years of locust, and blend her with lucrative years ahead. Hence, it is incumbent for us all to halt the nepotic and Buhari’s hegemonic savvy of dominance to a broader and unifying nation. It is in aggregating all these needs that today’s birthday of Governor of Sokoto State, Aminu Waziri Tambuwal comes to mind. Substantively, wordsmith, soothsayers, naysayers, propagandists, essayist and pundits might not have properly situated and located Tambuwal’s place in Nigeria’s tortuous history, particularly in recent years. There’s no denying the fact that should Nigeria be pulled back from the eclipse in 2023, the country will owe that gratitude to no one but Tambuwal. Tambuwal’s unrelenting efforts in resetting the opposition, Peoples Democratic Party (PDP) to bring to life our democracy, offering a glimmer of hope and confidence that Nigeria is capable of preventing authoritarianism and totalitarianism from taking a firm stead, the type in vogue in Abuja is commendable. Some have argued that the Sokoto State Governor even sacrificed the politics of the Caliphate in order to ensure that PDP remains vibrant and key towards rescuing Nigeria from APC’s ravaging machine. In so doing, the smooth ride of the PDP and emergence of Dr Iyorchia Ayu as the National Chairman cannot be farther from the handiwork of Tambuwal in stabilizing the party. Yet, as the search for the next Nigerian President takes centre stage, Tambuwal’s name has continued to feature prominently as a presidential

CAN TAMBUWAL MAKE 2022 A REAL YEAR - OF ANNUS MIRABILIS? IT SHOULD START WITH WAZIRI STOPPING THE BIG FIGHT THAT IS TO START OVER WHICH ZONE PRODUCES PDP’S PRESIDENTIAL TICKET. ANNUS MIRABILIS CAN BE POLITICALLY FEASIBLE IF TAMBUWAL AND HIS CO-GOVERNORS PUT NIGERIA FIRST

hopeful with the requisite capacity to mend fences shattered by APC. His tasks: bring warring tribes together, usher in a new and pure conversation about Nigeria and put forward the best economic policies to reposition Nigeria. Conversely, the clamour for zoning, equity, justice and fairness could stand on the way of Tambuwal’s genuine ambition to serve Nigeria. Still, he is not given to desperation and threats like others would want to. In his understanding of the Nigerian power equation, Tambuwal is aware of the forces of nature, God’s providence, time and places and how they all shape events and help to bequeath political power to whom God has destined. This craving has enabled him to steadily approach ambition, power quest and position of authority with some calmness and humility, that many within his bracket cannot afford. In 2018 at the PDP’s Port Harcourt convention, when Nigeria’s greatest spook landed at the convention to deliver the message from the country’s last surviving generals - the invisible hands, Tambuwal heeded that call. The question now is, would the initiators and benefactors of that event replicate that goodwill to Tambuwal this time around? History has a way of stirring a nation from its debris to greatness. It has the potential, like mystic powers to catapult individuals who have magic wands to pull nations out of crisis and political jigsaw. Nigeria is in a dire crisis, needing redemption with all earnest. In America, history thrust upon Franklin D. Roosevelt; Britain, Winston Churchill; France, Charles de Gaul; South Africa, Nelson Mandela. Who will history thrust upon Nigeria in 2023? Providing an answer to the above question is very critical for Nigeria, as the country faces an election year in 2023. This is obvious given that the quality of leadership the country has had over the last 20 have failed to unravel Nigeria’s potential and greatness. God and nature has bestowed all you can think of on Nigeria. The country’s greatest Achilles heel remains leadership. This year, going forward, Nigeria must unpack and resolve its leadership challenges, or perish with an uncertain future... Who will resolve the crisis? As Nigeria’s democracy plunges further, the views and aspirations of the citizens no longer matter. Recall Buhari said State Police is no issue: inter alia, restructuring, transparent and technologically backed electoral system, and the constitutional rights of voters to rate and rank the performance of those they thump printed for at the polls. Where does Nigeria go from here? Who will bell the cat and the Nigerian state? Will Nigerians be able to rely on democracy itself to self-correct the monumental fall APC and Buhari has plunged Nigeria? The American ‘intellectual blood bank’ and former adviser to President J.F. Kennedy, Theodore C. Sorensen said in the opening quote of this piece, that nations and citizens alike are capable of deploying democracy itself to correct democratic wrongs. The APC, under the pretence of democracy has inflicted the most insidious and infectious cut on Nigeria - its economy, unity, global standing; its currency, jobs, innovation and its vibrant youth. We are therefore under compulsion to use no authoritarian tactics, but democracy to correct APC’s pain, suffering, disunity, nepotism and the fall of Africa’s giant. Obi, a journalist and political communication expert, wrote from Abuja

TRANSPORT POVERTY: BUSINESS AND ECONOMIC CONSEQUENCES There is a direct relationship between the transport system and the ease of doing business, writes Timi Olubiyi

he new year is here, it is my prayer that 2022 will be a profitable year for all individuals, businesses, and households. Our new year resolutions at every level must include enhancing productivity and improving performance. Without a doubt, transportation is central to this and can be an effective indicator of performance in any economy, business, and quality of life. Simple things like getting to work, school, meetings, appointments, trade facilitation, transacting, moving cargoes, travels, and even delivery of social services such as rescues during emergencies can become extremely difficult with poor transportation. In fact, business decision-making and access to everything for economic progress hinge strongly on an effective transportation. Certainly, every nation regardless of its population size, level of development, and industrial capacity can benefit from an efficient transportation network be it road, waterways, rail, or air transport. But on the contrary transport poverty exists where inefficiency in all transportation modes is prevalent within an economy. Such is the case in many African countries and cities, including, Benin, Ethiopia, Nigeria, Uganda, Tanzania and Zambia, and a host of others. In many of the developed countries, transportation plays a significant role in the ease of doing business and the government plays an integral role in the implementation and administration. A recent visit to the United Kingdom (UK) and the United Arab Emirates (UAE) strongly indicated that, where there is efficient transportation and fewer traffic congestions, the economy and businesses are positively impacted. From my observation in the two countries, public transportation which includes buses, taxis, water ferries, trains, trams, and the metros are regulated adequately by the government and it is not com-

pletely private-sector driven, making it so efficient and reliable. Apparently as noted, where private companies are involved in the operations, it is usually on an agreed model such as the Public-Private Partnership (PPP) model. Ironically, across many African cities particularly in Nigeria, the unreliability of the transport system has continued to limit access to services, business, trade facilitation, the attraction of foreign direct investments, and also in the revenue drive of the government. The pilot region of observation is Lagos State, the economic centre of Nigeria, where transport operation is largely run informally by private individuals. This makes the services undesirable because of the inefficiencies that exist due to under-regulations. For instance, car reliance keeps compounding in the State because of poor demand responsiveness of public transports, commuters then tend to avoid the long queues and waiting hours at bus stops, and the associated risk of using public minibuses called Danfo. But the result is usually wastage of productive hours by many commuters in traffic congestions. Sometimes bike taxis which are usually referred to as Okada are considered for mobility. Though this trend depicts transport poverty, it is largely heightened by the informality of the public transport, widespread unemployment, lack of worthiness of the available transportations, lack of adequate maintenance system, giving rise to the high traffic congestion on the roads and expensive transport fares. Basically, the over-reliance on one mode - road transport and over-exposure to informality are the issues that are mainly slowing down growth in the sector. As widely noted, private participation, with little or no government entry barrier promotes informality. Such as the operations of the nonconventional ferry on the waterways, motorized

tricycles, and the Okadas and Danfos within the hinterlands. Sadly, these are the only affordable services to the poor despite the widespread insecurity and risks. In the UK particularly in London, a mobile application (app) offers most of the information about the public transport system, and regulations in the city including fares, routes, and time of arrivals and departures. That means if you must operate government has to know, this procedure reduces informality. In both UK and UAE, the logistics and business supply chains are effective because they rely on the transportation infrastructure and strict regulations available and that reduces the cost of business operations. For most public transportation closed-circuit television (CCTV) is installed for safety and security businesses. Transport cards are also used on most of these public transports for ease of payment. This offers a hassle-free environment for the populace, visitors, and tourists. Strict regulations also avail the government the opportunity to monitor many of these services, ensure accountability on the part of the operators, and for government to monitor service trends. For instance, in UAE just in a year, there were around 600 million rides on public transport (in a city of three million population). This is an indication of the rate of conversion to the public system by visitors and residents in a region that used to be primarily private vehicle driven. This is an indication that individuals move with ease and travel on public transportation because they are timely, affordable, and adequately available. With such a system in place, businesses can make projections and enjoy a reliable supply chain, with no uncontrollable logistic issues. With this experience, I have a strong conviction that there is a direct relationship, between the development of

the transport system and the ease of doing business in any country. In fact, without a doubt, it is easy to conclude that transportation can be a useful criterion for measuring development in a country. Because if transportation is made efficient it must impact positively on the economic development of a country and also improve the performance of the businesses in that country. It is no brainer or magic such a system can happen in Nigeria, with improved regulation, reduction of informality with sufficient investments in the sector. Even though in Nigeria it has been a situation of hectic traffic congestion even at the ports, poorly maintained roads, overstressed railways, underutilization of the waterways, long hours of waiting to have access, inadequate infrastructure, there should be a concerted effort to raise the percentage of public transportation, expand the modes, and offer stricter regulatory regime. For safety and security reasons the ease of entry into the sector by informal transport operators need to be reviewed because it appears that is majorly the issue. Government entry barriers are obstacles that can make it difficult for an individual or business to operate in the sector, such as what is available in the aviation industry. It is important to improve policies and regulations in transport services, expand transportation networks to achieve large-scale economic growth, and modernization. Though it can be argued, effective transportation can alleviate the level of poverty in the country. Because the current chaotic congestions on the roads and in the ports are essentially aiding market failures and hindering the ease of doing business in the country which are enablers of business closures and impoverishment. Dr. Olubiyi is an entrepreneurship and business management expert

T H I S D AY • MONDAY, JANUARY10, 2022

EDITORIAL THE CHALLENGE OF MASSIVE OIL THEFT The authorities could do more to stem the economic haemorrhage

Nigeria in 2016, for instance, The London Economist wrote: “…oil is also being stolen at a record rate and traders’ figures show output at well below the government’s figures. Information about Africa’s biggest oil industry is an opaque myriad of numbers. No one knows which ones are accurate; no one knows how much oil Nigeria produces. If there were an authoritative figure, the truly horrifying scope of corruption would be exposed.”

s damning as a recent report that Nigeria may have lost about 200 million barrels to organised theft in the ﬁrst 11 months of 2021 would seem, it came as no surprise. Going by ﬁgures from the Nigerian Upstream Regulatory Petroleum Commission (NURPC) obtained by THISDAY, while Nigeria was expected to pump approximately 635 million barrels of oil by last November, only 441 million barrels were produced within the period. This aligns with a report from the Nigerian Extractive Industries Transparency Initiative (NEITI) released earlier last year that Nigeria loses 138,400 barrels of crude per day (about 7% of its total production) to theft, oil-spills, or shortage-in production. The loss, according to the report, is “neither hypothetical nor episodic. It is real and endemic.”

It is unfortunate that oil theft has for decades remained a huge drain on the economy of Nigeria without concerted efforts to deal with MANY SECURITY the problem. No OPERATIVES LOBBY TO doubt, these ilBE POSTED TO NIGER DELTA BECAUSE OF WHAT legal funds from the crude THEY WILL BENEFIT FROM stealing could have been ILLEGAL OIL BUSINESS channelled to other sectors of the economy. Besides, because the criminal cartels involved need illicit arms and ammunition, they have contributed significantly to our national security challenge. Sadly, the political will to enforce actions and measures that would or could curb these nefarious acts that benefits only a few is sorely lacking. In fact, many security operatives lobby to be posted to Niger Delta because of what they will benefit from illegal oil business. The apparent lack of transparency in Nigeria’s oil sector is reflected in the fact that government relies heavily on operators to provide data without any independent verification. In a report on the mismanagement of the oil and gas sector in

Letters to the Editor

T T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI 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, IJEOMA NWOGWUGWU, 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

In August 2019, the Nigerian National Petroleum Corporation (NNPC) reported losing as much as 22 million barrels of oil at more than 120,000 barrels per day (bpd) to theft in the first half of the previous year. Despite that disclosure, Nigerian authorities appear helpless in dealing with the problem. Yet, at a very difficult period in a country almost wholly dependent on oil revenue, we cannot afford the luxury of allowing a few people to illegally corner to themselves our collective wealth. This menace persists in the oil and gas sector because of the existence of an assured off-taker market. There is an urgent need to address this challenge if Nigeria is to derive the maximum benefit from its oil and gas resources. The federal government must ensure that the perpetrators of this crime are apprehended and brought to justice.

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

MUCH ADO ABOUT THE NIGERIAN ELITE

here is no shortage of laws to deal with the problem assuming the federal government is serious. Some of the various laws that have been passed include a 1975 act sanctioning the death penalty for pipeline sabotage, although needs amendment to include lines carrying crude and not only products. But the federal government seems helpless despite the huge sum of money being thrown at the problem. Among the strategies suggested by NEITI was calling for the Department of Petroleum Resources (DPR) to put molecular markers into products. This would allow the authorities to trace where such supplies go. More drastic measures should include that government ofﬁcials involved in oil stealing be made to forfeit all beneﬁts to them, whether in or out of service.

t is inebriating, when I hear some words used in our public discourse, like the elite consensus and I ask who truly are the Nigerian elite? I have constantly inquired, what makes up the Nigerian elite class? Is it the rent seeking they benefited from at the expense of other hardworking Nigerians, just because of their political connections or the circumstances of their birth? Or the rabid corruption they perpetrated in areas where the norm ought to be service. I have also thought about education. Maybe going to a Russell group school, or the high end Oxbridge or the Harvard management courses which top executives do or a mushroom university in Canada in the name of studying abroad. Isn’t it shocking, that during elections we mention elite consensus, but we vote in leaders based on illogical parameters like last name. So what is this elite consensus thing we talk about? How has this elite consensus reduced the inflation rate or reduced the price of Garri in the market? Chuka Okadigbo stated famously, “If you are emotionally attached to your tribe, religion or political leaning to the point that truth and justice become secondary considerations, your education and exposure is useless. If you cannot reason beyond petty sentiments, you are a liability.“ Do the so-called elite in Nigeria reason beyond petty sentiments? I thought the elite consensus was supposed to bring about robust, introspective thinking to the polity, but the elite consensus

doesn’t thrive beyond the rabid prism of bias, tribalism and religion. One would have thought that the Nigerian elite with their exposure will rise beyond tribalism, religion and affiliation to objectively chart a course of development for Nigeria, but it is all hogwash, it is akin to believing that because you pay service charge in your highbrow slums of ikoyi everything is fine. I think the problem is also about the overt expectations we have of our elite, when think because they speak “good English” they are intelligent. I must add speaking good English in Nigeria ln parlance is not a sign of intelligence. My grandmother of blessed memory never spoke good English, but she ran a business intelligently for over 60 years selling China wears in Dugbe. For good measure she was never in debt. I think we must redefine this elite debate in Nigeria and truly ask with all the education, how have they made Nigeria better? We have had PhD holders and technocrats serve Nigeria, so why haven’t things changed in the country? why do we keep going round in circles? When you hear some so-called elite speak in Nigeria, all you feel is nausea and despite this some people still make a case for elite consensus in politics. I dare ask who are the elite in Nigeria and what makes up the elite class? Could it be because they live in slums of Ikoyi and Victoria Island? Could it be education or “good English”? Or could it be family name? Pls tell me. Rufai Oseni, rufaioseni@gmail.com

FINALLY, SOME TRUTH

resident Biden has finally called out exPresident Trump with the colorful “dagger at the throat of democracy”. It’s not a new fact or a secret, everybody knew what had happened although a few deluded souls cannot accept it as the truth. This was not an alternative fact. The more interesting part is that it is presented without any smoke or mirrors as so many political reports are accompanied by. The usual excuse is that “Since it is a matter before the courts we cannot comment on it”. A brief check of the headlines seems more coverage of COVID and the numbers dying despite the trump statement “It’s going to disappear. One day, it’s like a miracle-it will disappear.” Another horrifying story The Kazakhstan President telling street security forces to kill protestors without warning and surely all this will do is remove a few brave voices rather than changing the facts. A final story is that the judge in the Ahmaud Arbery has stated the truth, it was murder, not some unfortunate mistake. Too many times we are getting biased, blurred, baseless versions of what has happened from our leaders, and it is about time we were told the truth. Dennis Fitzgerald, Melbourne, Australia

MONDAY JANUARY 10, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY JANUARY 10, 2022

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

M O N D AY D I S C O U R S E

2023: Will It Be Tinubu’s Year?

As the National Leader of the All Progressives Congress prepares to declare his presidential bid this month, Segun James writes that the party’s ticket may be his for the asking

Buhari

Osinbajo

Buni

Tinubu

he mission seems grandiose, but achievable: and in the process, redefine the role of the presidency in the management of national resources. It worked in Lagos, a process that has led to continued growth. And he believes that it can work in Nigeria, on a broader scale. However, there’s a caveat: this can only happen if he’s given the ticket of his party, and ultimately, elected as the president by the people. Welcome to the world of Senator Bola Ahmed Tinubu. In politics goes a saying: “politics is a game riddled with a circle of men holding a gun to each other’s head ready to pull the trigger at the first opportunity.” For Tinubu, this scenario is all too familiar. He has survived many political adversaries, persecutions, and betrayals, more especially in the last four years because of his alleged ambition to be president of the Federal Republic of Nigeria. Tinubu has not only survived the tortuous Nigerian political landscape which has left most of his first generation fourth republic colleagues scorched and irrelevant but has emerged with the potential to take the most coveted position in the Nigerian political scene, the presidency. How did he get to this point? The events that led to this began in 2003 when to the consternation of many he dared the leadership of his party, Alliance for Democracy (AD) who wanted to drop him as the party’s governorship candidate for Lagos state. He also called the bluff of former President Olusegun Obasanjo who was determined to win Lagos at all costs for the Peoples Democratic Party (PDP). He not only vanquished him, but he also survived. His success is built upon his work as governor of Lagos state from 1999 to 2007. He turned around the fortune of the state which was making a paltry N600 million monthly in Internally Generated Revenue (IGR) to making over N10 billion monthly by the time he left

office. Today, the state’s IGR is over N60 billion monthly. People die for flag and country, but in Lagos, they do so because of the enigmatic Bola Tinubu. He is the one man that has changed the face of governance in the state, making the people to truly believe that their state is really the Centre of Excellence that it is called. While there is continuous blackmail that he’s milking the state persists, yet Lagos remains the only viable state in the country. It also remains the only one that does not rely on federal government allocation to survive. Rarely has a politician had more followers than Tinubu, the earnest, purposeful and strong-willed leader of the APC. In the Nigerian political field, the gulf between sentiment and reality is thin. To his admirers, the Tinubu presidential dream is ordained. At every event, they sing the anthem which has become the official song of the party in the southwest: “On your mandate we shall stand, Bola!” And they are not backing down. Obviously, a man with a big heart, he was said to have nominated Vice

President Yemi Osinbajo, one of his political lieutenants as vice presidential candidate in 2015 even though he desired the position himself. Given his antecedents of selflessness the fact that Tinubu is interested in the presidency now shows the sacrifices he has made for others. The coming out of the cold by the opposition to Tinubu’s ambition has long been expected. The crisis in the APC which has been simmering for some time has burst into the open. Yet it all has to do with this ambition. The first salvo of the opposition was fired by the chairman of the Nigeria Broadcasting Commission (NBC) who advised Tinubu to continue as a kingmaker instead of striving to be the king. To him, such ambition is inordinate. So far, the outside world hasn’t had a lot of pull in halting the Tinubu’s presidential train. Neither gentle diplomacy nor outright threats have helped to derail the move either. As the party’s convention draws near, more oppositions are expected. Most politicians do not become the

Rarely has a politician had more followers than Tinubu, the earnest, purposeful and strong-willed leader of the APC. In the Nigerian political field, the gulf between sentiment and reality is thin. To his admirers, the Tinubu presidential dream is ordained. At every event, they sing the anthem which has become the official song of the party in the southwest: “On your mandate we shall stand, Bola!” And they are not backing down

subject of an emotionally charged and historically pivotal election, but Tinubu has. Since the launch of the political pressure group, SWAGGA 2023, he has become the issue in the polity. Nigeria has known more than its fair share of political and economic instability; Tinubu believes he has the magic wand to turn this around. Turning around an economy on a southward trend is not easy. But this is what Tinubu intends to do. After all, he did it with Lagos, he can also do it with Nigeria. In a country full of both ambition and frustration, Tinubu, who will be 70 years old in March is a role model for those who dare to dream. Without doubts, he has expanded the frontier of politics in the country. In this way, he embodies the best in political engineering in the country. Over the next few months, the nation will face two challenges in in the polity: religion and ethnicity. They will play major roles as the race for the presidential ticket of the APC gain crescendo. In the APC, the battle for the control of the party may be entering a critical and decisive stage. This is where the strategist and tactician in Tinubu will be tested. The clearest sign yet of the recovery of vitality in the polity is the strong set of indications coming the APC. Alliances are being formed across political divides. Negotiations have begun and people are placing their cards on the table to determine who gets what and how. Already, a group within the party has put up the name of former President Goodluck Jonathan as a possible presidential candidate of the party in opposition to Tinubu. Also, Vice President Yemi Osinbajo has formally informed President Muhammadu Buhari of his intention to contest for the party’s ticket. More candidates are expected to come out as the party zoned its ticket to the south. The battle has begun in earnest.

T H I S D AY ˾ MONDAY JANUARY 10, 2022

MONDAY DISCOURSE

Celebrating an Epitome of Quality Leadership Muhammad Bello Aliyu Goronyo highlights the degree of excellence of Governor Aminu Tambuwal of Sokoto State

here are two significant qualities that citizens often seek in their leaders, namely, competence and integrity. The ability to deliver change and promise – in terms of potential excellence and campaign pledge – is both the stuff of good leadership and people’s expectations. From his current performance at the wheel of executive power, to the eminence of his previous legislative representations, to the shrewdness of his judgments on national issues, and his ability to make necessary changes when needed, Sokoto State Governor Aminu Tambuwal is certainly the epitome of the perfect leader. There are plenty of reasons to support this assessment. Tambuwal’s political trajectory has seemed to follow the belief that democracy and excellence are more important than political convenience and expedience. He has moved according to his convictions regarding the opportunity to show excellence. The governor, who is 56 today,, January 10, started his political career in 1999, when he worked as Personal Assistant on Legislative Affairs to then Senate Leader, Senator Abdullahi Wali. In 2003, he was elected into the House of Representatives on the platform of the now defunct All Nigeria Peoples Party (ANPP) to represent Kebbe/Tambuwal Federal Constituency in Sokoto State. Tambuwal, a lawyer, was Speaker of the House of Representatives from 2011 to 2015, when he contested and won the governorship of his state. He was Deputy Chief Whip of the House of Representatives between 2007 and 2011, and Minority Leader of the House in 2005. He is currently the Chairman of PDP Governors Forum and Vice Chairman of the Nigeria Governors Forum. Those who have worked closely with the governor, as minority leader in the House of Representatives, Speaker of the House of Representatives, Sokoto State governor, chairman PDP Governors’ Forum and vice chairman of Nigeria’s Governors Forum (NGF) will not only attest to his ingenuity but speak highly of his capacity to manage the most complex political issues effectively and proffer workable solutions. Little wonder the erudite lawyer has defied persistent zoning arrangement at every step of the way to emerge leader in different capacities. For those who are yet to be familiar with Tambuwal’s political trajectory, the Sokoto State-born politician was a member of the House of Representatives in 2003 representing Kebbe/Tambuwal Federal Constituency on the platform of the All Nigeria’s People’s Party (ANPP). At the time, ANPP was a minority party in the House and the minority caucus defied the existing zoning arrangement in 2005, changed its leadership and made Tambuwal the minority leader. ANPP had zoned its principal officer positions as follows: Leader - Kano/ Kaduna/Jigawa; Whip - Sokoto/Kebbi/ Zamfara; Deputy Leader - Borno/Yobe and Deputy Whip to the South-south. Based on these, leaders of the ANPP emerged in 2003, but when members felt the need for a change, they altered the zoning and paved the way for Tambuwal to emerge as the leader. Upon his reelection to the House in 2007, he was also elected the Deputy Chief Whip. A similar situation also occurred in 2011, the PDP zoned speakership position to the Southwest and preferred Hon. Mulikat AkandeAdeola who later became the majority leader of the House. But members of the House of Representatives wanted Tambuwal, they mobilised themselves across political party divides and delivered the leader of their choice as a speaker. Tambuwal brought interesting themes to the National Assembly, when he served as Speaker of the House of Representatives. The issue of power tussle between the Senate and House of Representatives had hindered progress in the National Assembly for years, and even affected government business in the executive arm before, his ascension to the post of Speaker. Many Nigerians believed it made little sense to allow such division between the two legislative chambers, which ought to complement each other for the good government of the country. That was also Tambuwal’s belief. During his tenure as Speaker, he was able to douse the raging rivalry between the upper

Tambuwal

chamber and lower chamber. It was a conflict that had popularised previously unknown nomenclatures, like Red Chamber and Green Chamber, in the country’s political lexicon. But Tambuwal steered the House to a regime of harmonious relations with the Senate, which has endured till date. On October 28, 2014, Tambuwal defected from the then ruling PDP to the opposition APC. He had joined some key members of PDP then, who felt frustrated by what they believed were undemocratic practices, with potentially devastating consequences, taking hold in the party. As a political bridge builder and advocate of inclusive politics, the 7th Assembly was stable under his leadership and when he moved to APC, as speaker, he worked harmoniously with a PDP deputy. He won the governorship of Sokoto in 2015 on the platform of APC but returned to PDP when he felt his new party was not meeting his democratic expectations and the yearnings of Nigerians. With a sound sense of politics in 2019, Tambuwal turned an otherwise precarious political situation into a perfect example of civil governance in the modern Nigerian era. He defied doomsayers. His re-election in 2019 on the platform of Peoples Democratic Party (PDP), following his defection from All Progressives Congress (APC), had pitted him against an opposition-dominated legislature. With 16 APC members of the House of Assembly to 14 members of the governor’s PDP, conjectures were rife about hyper-partisanship capable of rendering the state ungovernable. This

was more so in view of the deep-rooted rivalry between the two major political tendencies at the general election in the state. The expectation that Sokoto State was going to be plunged into a hot weather of political uncertainty and battles was heightened by the experiences of other states that had similar political equations. It was a difficult situation to overcome. But Tambuwal pulled through. Bringing his uncommon capacity for political negotiation and principled compromise to bear, he was able to douse the tension, working closely with major stakeholders in the state to ensure the emergence of a Speaker he could work harmoniously with. Aminu Achida (APC/Wurno) emerged Speaker of the House of Assembly after defeating the APC nominee, Abdullahi Garba Sidi, representing Gwadabawa South constituency. Achida reportedly got the support of all PDP members of the Assembly, in addition to some APC legislators. He won by three votes, getting 16 of the 30 votes cast, while Sidi secured 13 votes. One vote was voided. His political dexterity brought about a perfect arrangement that effectively addressed the delicate political equation in the state legislature. Not many are aware that in Sokoto, an APC member is the Speaker of the House while a member of the PDP, Abubakar Magaji, representing Bodinga North, is the deputy speaker. Currently, the PDP has 16 members in the House after the death of an APC member and PDP won the bye-election, yet the speaker is still a member of the APC and the House is stable. This can only happen

Tambuwal, a lawyer, was Speaker of the House of Representatives from 2011 to 2015, when he contested and won the governorship of his state. He was Deputy Chief Whip of the House of Representatives between 2007 and 2011, and Minority Leader of the House in 2005. He is currently the Chairman of PDP Governors Forum

under the watch of a true democrat who respects the choices of people and independence of the legislature. The story is unpleasantly different in some other states. But for Tambuwal, managing diverse political tendencies is an integral part of democratic practice. With his record so far, there is no doubt that the Sokoto State governor is fit for higher political responsibilities at the national level. He put up a brilliant showing in 2018, emerging one of the four aspirants widely expected to win the PDP presidential ticket in 2018. He was runner-up at the keenly contested presidential primaries in Port Harcourt. But Tambuwal maintains an impressive political record that continues to count for him. With age on his side, unblemished record devoid of corruption indictment, and political experience, he is one politician pundits would continue to watch closely. The successful conduct of the PDP national convention in 2021 has also been attributed to his leadership of the PDP governors forum, which rallied all tendencies within the party for a rancor-free exercise. His moderate political views and exceptional capacity for building bipartisan support are legend. Since the spate of heightened insecurity in the country resulting from insurgency and banditry, the Sokoto State governor has maintained his stance on state police as the effective solution to the menace. He has also recommended some form of control over the powers, activities, and operations of security agencies in states by the governors. Tambuwal has gone ahead to initiate a project intended to permanently solve the clashes between herders and farmers, which have killed hundreds of people across the country. The Sokoto State Cattle Breeding Project, being executed in partnership with investors from Argentina, involves the designation of areas for cattle rearing to end encroachment on farmlands, which often precipitate the frictions. Other states and even the federal government are studying the project for possible adoption. Just as the Sokoto State governor’s record of performance in other key sectors is being watched in the state and nationally. The country would certainly need to pay a lot more attention to Tambuwal as it searches for answers to crucial development and security issues. -Hon. Goronyo is Chairman of Sokoto PDP

T H I S D AY ˾ MONDAY JANUARY 10, 2022

FEATURES

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

Towards Averting Another Jailbreak in Ondo With the phenomenon of rising waves of jailbreak in Nigeria, which has impacted negatively on the society and posed dangerous threats to national peace and security, the recent withdrawal of the Nigerian Army from Correctional Centres in Ondo State could easily encourage a reoccurrence across the state. Fidelis David, who writes on imperative to nip the bud before it blows into anarchy, also ponders on the capacity of Amotekun, the regional security outfit, to fill the security lacuna

The state of one of the correctional centres after a jailbreak

Photo Credit: GOOGLE

n a recent Monday, Ondo State Governor, Oluwarotimi Akeredolu confirmed the withdrawal of men of the Nigerian Army from the Correctional Centers across the state. The reason for this is not known yet. This is coming after the October 22, 2020 jailbreak in the state where 58 inmates were released from the facility in Okitipupa Local Government Area of Ondo State, after thugs broke in. The gunmen also set the police area command in the local government headquarters on fire. The thugs, who brandished weapons, carted away police rifles after setting the station ablaze. The state high court was also torched by the hoodlums. The local government secretariat, offices of the Independent National Electoral Commission and Vehicle Inspection Office were vandalised. Statistics of Nationwide Jailbreaks According to the dictates of Nigerian law, jailbreak is an illegal or unlawful act under which a prisoner forces his or her way out of the prison in a state. According to statistics, in year 2021alone, 5,238 inmates escaped from various prisons across Nigeria and there were 15 incidents of jailbreaks within that period, and eight were successful, while the prison break in Jos on December 2021 was the last of such jailbreaks. By the official records of the Nigerian Correctional Service, the current population of inmates across correctional facilities in the country is 70,237. This figure is way higher than the 57,278 inmates carrying capacity of correctional facilities in the country, as revealed by the Interior Minister, Rauf Aregbesola earlier in 2021.

Governor Akeredolu

NCS Comptroller General, Haliru Nababa

Withdrawal of Soldiers from Checkpoints, Correctional Centres The governor's confirmation is coming two months after the withdrawal of military personnel from checkpoints across the 18 local governments of Ondo State.

At that time, it was reported that the withdrawal was triggered by non-payment of the soldiers’ allowances for months, an obligation that predated the advent of the Rotimi Akeredolu administration. Other media organisations re-

The withdrawal of these soldiers, honestly, portend a major threat to that facility and it's already giving us as residents ominous signs of dangers ahead. Ondo must be secure. The news of those trailed from our border town and arrested with weapons is still fresh in our memory

ported that the incident was triggered by a cold war between the Brigade Commander of 32 Artillery Brigade, Brigadier General Yakubu Yerima and the Corp Commandant of Amotekun, Chief Adetunji Adeleye, stressing that the rift between the officers had been on for some time now. The report noted that the army commander ordered that all military checkpoints be dismantled, just as he directed the affected soldiers to return to the barracks, after staying away from state Security Council meetings in the last six months. In the latest incident, Akeredolu wondered why soldiers will be withdrawn from correctional centers which belong to the federal government. While condemning in strong terms, the incident, he accused the army of inducing steps toward jail breaks. While it is well understood that the breakdown of security across the country has led to a surge in frequent prison breaks, kidnapping and banditry, it is pertinent to state that the latest action by the military in Ondo State could easily encourage jail breaks across the state. However, it is pertinent to state that even with the presence of the soldiers, we still have cases of jail breaks across the country. Which now begs the question of what happens when the criminals now have a field day because of the failure of the stakeholders involved? As the ace investigative journalist and right fighter, Tosin Ajuwon rightly observed, "we hope someone will challenge this action, not for our interest but the interest of the people and security of the sunshine state and facility. "The withdrawal of these soldiers, honestly, portend a major threat to

T H I S D AY ˾ MONDAY JANUARY 10, 2022

FEATURES

Amotekun operatives in Ondo

Army checkpoint

because people have been apprehensive of probable breach of security in those areas and that is why we have to act now to allay fears of residents and motorists.” But for the residents, the quick resort to the deployment of police to military checkpoints across the state seems odd and abysmal. This is because since the deployment of policemen to the checkpoints, the primary duty of the police personnel at those checkpoints have allegedly been 'extortion'.

that facility and it's already giving us as residents ominous signs of dangers ahead. Ondo must be secure. The news of those trailed from our border town and arrested with weapons is still fresh in our memory. "I do hope we all raise our voices to condemn this and demand the immediate return of soldiers back to that facility to avoid possible jailbreak! Who knows the plan? Nothing is impossible in Nigeria," Ajuwon added. Proactive Measures Well, Akeredolu has also assured that he has met with other security heads in the state, particularly the police and charged them to take over their responsibility of internal security in the state, this is we see as a right step in a right direction. He said: “It is, however, pertinent to alert members of the public and the federal government of this unwholesome situation. Findings into the remote cause of this action has only revealed that it was an order from above without corresponding details. “The situation not withstanding, proactive efforts have been made to secure these centers so as not to allow premeditated jail breaks as whoever gave order to withdraw those soldiers was in the process of encouraging such. “While we believe that the federal government has a duty to protect the prisons, we are more concerned about the security of our people across the state. A jailbreak will not only threaten the peaceful atmosphere we are enjoying in the state, it will pose serious danger to our people . “Similarly, the Nigeria Security and Civil Defence Corps (NSCDC) whose main assignment is to secure Federal Government facilities, has also deployed armed officers to the correctional facilities. He added that he has also directed the deployment of men of the State Security Network (Amotekun) to complement the police and the NSCDC. This is to ensure that any premeditated action is tamed and resisted with commensurate force.” PDP's Position and Ondo Government's Counter Reaction Not satisfied with the development, the opposition Peoples' Democratic Party (PDP), in a statement signed by its Publicity Secretary in the state, Kennedy Peretei, described the withdrawal of soldiers from the state as dangerous saying it will further expose the people of the state to danger. “In the last one year, no fewer than 11 traditional rulers have been kidnapped, while one first-class Oba, the Olufon of Ifon, Oba Isreal Adeusi, was murdered in cold blood by gunmen. “The PDP joins other well-meaning Ondo State citizens to appeal to Governor Akeredolu, to immediately pay the outstanding allowances due to the security personnel without further delay". Reacting, the state Commissioner for Information and Orientation, Mr Donald

Vandalised van of Ondo Correctional Centre

Ojogo, warned the opposition PDP not to politicise the situation but said the state government is more particular about the safety of lives and property of people of the state. Ojogo said PDP attacks on the state government is designed to discredit the state security outfit, Amotekun, and lambasted the opposition for playing up the issue of non-payment of allowance to the military. “The Ondo State government desires not to go into the merits of the flying story about non-payment of allowances to any arm of the military. It deserves no such efforts more so, that, the concerned arm of the military has yet to issue any statement in that regard. “It must be noted that notwithstanding the politicisation of any situation, the Ondo State Government ably led by Mr Oluwarotimi Akeredolu, shall not, under whatever circumstances, succumb to blackmail and allow any puerile allegation wrapped under ethnicised platforms to wrought further violence on our people. “It must clear to all, including the PDP, that, the target is AMOTEKUN. Unfortunately for whoever whose motive is to perpetuate violence under any guise, our resolve to sustain AMOTEKUN remains unwavering. We won’t be deterred in any form. Our time-tested character and at-

titude toward tackling insecurity even at odd times, shall not be compromised. “The spurious efforts of the opposition PDP to weaponise a seeming situation of near sabotage, clearly shows how detached they are from the arena of vigilance. To them, everything is politics and politics must be infused into everything, including the safety and welfare of the people. No discerning group could have bought into such cheaply brandished propaganda. "The ignorantly appraised security situation by the PDP is an inelegant manifestation that they would rather dance on the blood of innocent South-Westerners on the altar of politics for patronage than stand firm in defence of their people.” The Police Takeover of Military Checkpoints Since the withdrawal, policemen have been drafted to mount the checkpoints and inter state boundaries. The Commissioner of Police in the state, Bolaji Salami, said he deployed the men in order to curb plans by criminals to capitalise on the security situation of the state. Bolaji who spoke through the state Police Public Relations Officer, PPRO, DSP Funmi Odunlami said, “after what happened, we have deployed our men to those axes

The situation not withstanding, proactive eﬀorts have been made to secure these centers so as not to allow premeditated jail breaks as whoever gave order to withdraw those soldiers was in the process of encouraging such

Is Amotekun Truly Filling Vacuum Created by the Soldiers Withdrawal? On November 4, 2021, Governor Akeredolu, said the State Security Network Agency codenamed ‘Amotekun Corps’, is effectively filling the vacuum created by the overstretched conventional security agencies, particularly the police in the state. He noted that the Amotekun Corps is a product of circumstance which is essentially created to fill the obvious security gap in the state for the security of all. This beggars the question if they are truly filling the lacuna because even with the presence of the soldiers, the people don’t sleep with their two eyes closed, what happens when the criminals now have a field day, because of the lapses created by the stakeholders involved in this saga? Also, with both Amotekun and soldiers refusing to clarify their positions, residents of Ondo State and Nigerians as a whole may not know whether unpaid allowances caused the disaffection or something more calamitous. Meanwhile, these successful jailbreaks is making a mockery of the arrests of criminals by the police and other security agencies, because with these jailbreaks, there is bound to be an exponential increase in crimes and criminalities in the country, thus, the federal government must rise to occasion, intervene, and order the redeployment of soldiers across correctional centers in Ondo state. On this note, residents of Ondo State have pinned the words of the state governor who said he was more bothered about the overflow effect of the soldiers withdrawal on the security situation in the state. Moreso that such action could easily encourage jail breaks across the state. Be as it may, the primary responsibility of any responsible government is the protection of lives and properties, so it is none of the citizens' concern whether the withdrawal was due to non payment of allowances or a cold war between Amotekun and the military. All what residents of Ondo State want is adequate security, this, government must deem important and make moves to ameliorate it. On a final note, stakeholders involved must rise up to occasion and avert a recurrence of the October 22, 2020 jailbreak in Ondo State where 58 inmates were released from the facility in Okitipupa Local Government Area of the state.

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THE MONDAY INTERVIEW

YEWANDE SADIKU:

I Will Be Circumspect to Serve in Government Again In Nigeria, it’s almost impossible for a public official to be investigated by security agencies over allegations of fraud and malfeasance, and nothing was found, especially if the individual was a marked man/woman. But Ms. Yewande Sadiku, the immediate-past Executive Secretary/CEO of the Nigerian Investment Promotion Commission (NIPC), Nigeria’s foremost investment promotion agency, broke that record. In her five-year tenure, devoted to institutional reforms, Sadiku was faced with petitions that saw her being investigated by seven agencies of government, which are the Code of Conduct Bureau, the Independent Corrupt Practices Commission (ICPC), the Accountant General of the Federation, the Auditor General of the Federation, the Department of State Services (DSS), the Bureau of Public Procurement and the Economic and Financial Crimes Commission (EFCC). She also had petitions investigated by the PresidentialVilla, including those from some staff of NIPC against her. But the ICPC in a letter dated December 16th, 2021, and addressed to the CEO, NIPC, cleared her of all the allegations levelled against her and the ICPC closed the case. In this interaction with THISDAY, she speaks about her experience working in a government agency. In addition, she also talks about measures that the government should adopt to make the country the investment destination of choice in Africa and how to improve efficiency in the public service, among others. Excerpts: You were the Executive Secretary of the Nigerian Investment Promotion Commission (NIPC) for five years (2016 to 2021). What was your experience at the Commission like? I was the Executive Secretary of the NIPC from November 8, 2016, to September 24, 2021. In that time, I learnt a lot about Nigeria. I came to understand more, not only the length and breadth of the wealth of Nigeria, in terms of the people and resources that the country is blessed with on a state-by-state basis. I came to understand the public sector and why some things work and why many things don’t. I came to understand the challenges that reformers in government face; I came to understand the difficulty of running a government agency. But I also came to appreciate the presence of

both good and evil. I think in that period, I came to understand a lot about human beings and I left with a deep appreciation of what is actually possible in Nigeria. On the one hand, I had a humbling experience of how difficult people can be if you do not conform to their expectations. But I also left with a clear belief that Project Nigeria is possible with the right alignment of people who are interested enough to want the best for Nigeria and are committed enough to do what it takes to make that Nigeria happen. We don’t really have the luxury of time. Time is going and the African Continental Free Trade Area (AfCFTA) for instance has put us even under more pressure to get our act together quickly before other

countries get ahead of what should be Nigeria’s “birth right” in the sense that Nigeria is close to that prize of benefitting the most from AfCFTA because it has disproportionate strength and advantage to be the winner in this new way of doing things. Can you proudly say you left the NIPC better than you met it and what were the reforms you introduced? Yes! I can say that I left the NIPC better than I met it without a shadow of doubt. And the records speak very clearly and loudly. In my career in the private sector, I worked for organisations that were strict about governance; that were very structured. But I also came

because I have a background in the capital market, an environment that is dominated by rules of engagement. You have to work with the rules of engagement; the rules of engagement do not stop innovation but they mean that you have to make sure that whatever you are doing is in line with the rules. The way that I like to think about it is that you first tick the box to make sure you are not breaking any rules. But ticking the box does not prevent you from thinking outside the box. And I brought all the skills that I had to the NIPC. My work in investment banking was selling Nigerian companies to domestic and international investors. You cannot sell a Nigerian Continued on page 23

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THE MONDAY INTERVIEW

YEWANDE SADIKU

Capital Flows to Where It’s Courted, Not Threatened company without first selling the country. I believe that the better governed a company is, the better it performs on a sustainable basis. The same is true of government agencies. So governance was important to me. The kinds of things that I thought government agencies should be doing when I was in the private sector, I tried to hold and work to the same standard when I was working for the government. So accountability to the public in terms of financial performance, in terms of the work that we were doing; in terms of the results we achieved, in terms of the mandate of the NIPC. And the proudest proof that I left NIPC better than I met it is its Freedom of Information (FoI) ranking for government agencies that essentially measures compliance and accountability. When I joined in 2016, NIPC was ranked 90th out 121 agencies. It moved to 75th in 2017 and was ranked 17th in 2018; in 2019 and 2020 it was ranked second but in 2021, it was ranked first out of 213 government agencies. When I arrived in November 2016, NIPC did not have audited accounts for the year 2014 but when I left in September 2021, the NIPC had published audited accounts for 2014, 2015, 2016, 2017, 2018, 2019 and 2020. This meant that all the backlog had been covered before I left. Government agencies that generate revenue have an obligation to remit to government the share of their revenues that is due to government. For a government agency that is listed on the schedule of the Fiscal Responsibility Act (FRA), you are expected to remit 80 per cent of your operating surplus. The NIPC had not been complying with that requirement on a disciplined basis. In my five years at NIPC, it first took a while for us to close the gap on the outstanding. But once we closed the gap on the outstanding, the remittance was done on a quarterly basis in 2020 and 2021. Then, there were obligations that were stated in the laws, including the Industrial Development Income Relief Act (IDITRA), which created pioneer status incentive and the NIPC Act. The IDITRA had an annual reporting obligation that every year, the details of the companies that applied for pioneer status, those that you granted and those that were rejected were supposed to be published. Prior to 2016, the report had never been published. It was published every year in 2017, 2018, 2019 and 2020. So NIPC’s obligation from a legal perspective to IDITRA, the FRA, and the NIPC Act were complied with on a disciplined basis. Then on governance and accountability, there were administrative approvals that all government agencies need for their organisational structure, for the staffing structure and for allowances and the like. The NIPC had never gotten those approvals, but we secured them for the first time in 2021. So I left an organisation in my view that was much stronger than the one that I met. Even matters relating to staff welfare had a material improvement from the years before I joined to the year that I left. I challenge you to find another government agency with the quality of published financial, operational and legal reports like the NIPC. The “Book of States” was launched during your tenure. What was it all about and how is it beneﬁcial to the country? To sell Nigeria or to sell any asset, you first need to properly understand what you are selling. To properly sell Nigeria, we needed to move beyond generalisations to selling Nigeria on a more specific basis. The Book of States helped us to capture the competitive advantages and investment opportunities in each of Nigeria’s 36 states and the Federal Capital Territory (FCT) on a disciplined basis, on a state-by-state basis so that we can sell the states for what their particular strengths are rather than talking about Nigeria only in the general at all times. That project started with my first visit to Borno State in February 2017. This visit was what inspired the Book of States. For most people, when they think about Borno State, they will think about the insurgency and may not know why an investor should be interested in Borno State. But there are many reasons why an investor should be interested in Borno State. It is the second-largest state in Nigeria and covers about 10 per cent of Nigeria’s land mass. It is a strategic location because it shares borders with Cameroun, Chad, Niger and four Nigerian states. So it is an important trade route to the countries it shares borders with. It is an excellent source of groundnuts, cattle, rice, maize and cowpeas. It has a dedicated gum Arabic belt and more than a million hectares in the state were reserved for livestock production. For me the Book of States was the first step and an important step in properly selling Nigeria.

all government policies relating to the investment landscape. There is a need for an all-government approach to promoting investments. It cannot be the work of a single government agency because none has the muscle to pull everybody together. But if we have an all-government approach with everybody moving in the same direction, we are more likely to be successful. In the years that Nigeria recorded its highest investment flows, government had bold policies that stimulated investment flows; bold policies that drove changes in sectors and completely opened sectors. We saw it with telecoms; we saw it with the sale of downstream oil and gas assets and in banking. Similarly-bold policies that are aimed at reforms that open up sectors will have the required ripple effects to stimulate investment flows. And of course we need to deal with the challenges of insecurity, which affect not only foreign investors but domestic investors. They affect the movement of people and can potentially restrict investment flows to one part of the country rather than distributing them in the more balanced way that Nigeria needs. So how did you receive the news from a recent report by RMB titled, ‘Where to Invest in Africa 2021,” that Nigeria is no longer among the top ten investment destinations in Africa, considering the efforts you made at the NIPC? That report is published on an annual basis. Nigeria left the league of the top 10 not in 2021 but a couple of years ago. So the list did not surprise me because it was a trend that we had seen coming. So when did we leave the top 10 on the ranking? I believe that it was in 2017 or 2018, but it was a few years ago. We need all policies to be aligned. Capital goes where it is courted and does not feel threatened. It goes where it is made comfortable and where it has a chance to grow without intimidation. The most senior people in government say the right things about attracting investors, but the actions of a lot of people who work for government generally send a different message to investors. Generally, investors do not listen to what policymakers say; they watch how policy makers behave, act and treat investors that are similar to them. These are the things that really give them the sense whether someone is serious about a policy or not.

“The IDITRA had an annual reporting obligation that every year, the details of the companies that applied for pioneer status, those that you granted and those that were rejected were supposed to be published. Prior to 2016, the report had never been published. It was published every year in 2017, 2018, 2019 and 2020. So NIPC’s obligation from a legal perspective to IDITRA, the FRA, and the NIPC Act were complied with on a disciplined basis” So if you are engaging investors and you know the difference properly between Borno and Kano; between Lagos and Ekiti; between Anambra and Oyo, it will be easier for you to find targeted investors which I believe to be the ultimate goal of investment promotion. Targeted investment promotion to find the best investors for the particular investment opportunity that is most suited to their investment appetite. The book is not an end in itself but an important part of the bouquet of tools that are required for investment promotion in Nigeria. Why has Nigeria not been able to utilise the special economic zones to promote investment in the country? The special economic zones are under a different government agency. The Nigeria

Export Processing Zones Authority (NEPZA) is the agency under which special economic zones fall and not NIPC. My knowledge of the NEPZA is tangential and not direct. It was not my responsibility. Recently, the Lagos Chamber of Commerce and Industry disclosed that Nigeria received $232.74 million FDI in the ﬁrst half of 2021, what were the reasons for the drop in investor conﬁdence in Nigeria, given the fact that this happened while you were at the NIPC? First of all, investment flows have been declining globally since 2015. Investment flows in Nigeria have followed a similar trend although the decline in Nigeria has been more dramatic for several reasons. There is a need for a coherent alignment of

And how will you assess Nigeria based on this? A lot of policies that we have do not appear to be aligned. Our foreign currency policy does not appear to be fully aligned with our industrial development aspirations. Our policies relating to education, relating to inflow and outflow of goods and people all need to be fully aligned and to say to investors that we want you to come. Not that Nigeria is ready to business but that Nigeria is open for business. Investors even look at the judiciary and how we treat matters that are related to the rights people have. What other steps should Nigeria take to create conditions that would make the country a favourable investment destination? The first is that we need coherent government policies. We also need an all-government approach to investment promotion. It should not be the job of only one government agency no matter how large that agency is. And certainly NIPC is not fully skilled to do that job all by itself. The Presidential Enabling Business Environment Council that is tasked with the work of improving the business environment has an important job to do. We also need to look at the cost and competitiveness of doing business in the country. We need to show that we are willing to welcome investors and make them comfortable; that we will resolve their issues and will provide an environment conducive enough to their business to continue to grow. There have been several calls that Nigeria should channel more of private capital for infrastructure development but the country has not been recording tangible success from that direction. What are the constraints? The way infrastructure investments are targeted is differently from the way portfolio investments and direct investments are targeted. Infrastructure investments generally have a long Continued on page 24

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THE MONDAY INTERVIEW

YEWANDE SADIKU

I Faced Serious Opposition for Complying with Consolidated Revenue Fund Requirements gestation period. They take a long time to deliver; the returns come very slowly and they have transformational effects, especially impacts and socio-economic value. The manner in which we target infrastructure investments needs to reflect the nature of infrastructure investments. Investors need material confidence in the stability of the policies of government, given how long it will take for those investments to generate returns. So the frequency and the suddenness of government’s policies change is a challenge. What I have found from my years of working with the government is that for every investor that desires growth and opportunities, there are few countries that are as robust and full of opportunities as Nigeria. That is the reality and I actually believe it. But there are many difficulties that have been placed in their way. When will Nigeria translate its much-talked about potential to reality? That is a function of leadership. But leadership is not about one person, rather it is about the totality of a people that are working towards a cause. And we need the civil service to actually work for Nigeria to achieve her full potential. Political appointees such as me and people who are elected into office have a fixed tenure in office, but the people who serve as the fabric of the institution of government need to be better equipped at understanding the value that Nigeria offers; they need to be better able at defending the long-term interest of Nigeria. They actually need to do what they are employed to do, which is public service

for public good and public wealth creation rather than as we see in many instances a fair bit of self-service. You have played in both the private and public sectors, can you share your experience from both sides and what do you think can be done to reform the civil service and make it a vehicle for efﬁciency in governance? The public and the private sectors are very different and are like two different worlds that speak different languages. I have a lot of respect for what the public service should be. I spent a lot of time reading documents that were prepared for the Nigerian public service in terms of what it should be and what it should deliver. Public servants should be highly respected and should be very diligent. The quality of their work should humble others based on written documentation. They should be experts in administrative acumen. The reality though is that many public servants are underpaid, undertrained, underexposed and underequipped. I met in my time at the NIPC a lot of public servants whose commitment to Nigeria and dedication to their work trump the best that you will find anywhere in the world. Unfortunately, they are in the minority. We need to have a culture that allows such people, not only to do their work but to grow the camps of such people. What is your view on the country’s

“Then on governance and accountability, there were administrative approvals that all government agencies need for their organisational structure, for the staffing structure and for allowances and the like. The NIPC had never got those approvals, but we secured them for the first time in 2021”

foreign exchange regime? There needs to be better alignment between the foreign exchange policy and the industrial development aspirations of the country. In my view, I do not believe that they are well aligned. There is no country that develops without investment capital and investment capital comes in layers. The easiest first layer is portfolio investment: buying securities as short and midterm investments. The objective is to develop confidence in the system, in the country, that allows capital to come and go. The more comfortable investors are with their ability to come and go, the more likely that they will make longer term investments in that country and that is where direct investment comes in. As they get more comfortable with their portfolios and the risk of the country, they are more likely to take even longer tenured risk and diversify their portfolios across different sectors and tenors. The more comfortable they get, the more the message reverberates about how well investors are doing, the more likely that message goes out to others that are interested in the same market and that is how you broaden the scope, universe and tenor of investment. They need to be able to bring in foreign exchange and take their money when they are ready to get that confidence. From a trade perspective, most foreign entities would enter a country by trading. This is to establish that there is a market in the country for their products. No one will build a multi-billion dollar factory without first establishing that there is an interest in their products. If the market exists, then it will be easier for them to increasingly domesticate part of their value chain. The ability to bring in goods and take away profits at the beginning is a part of the development chain and breaking it has a lot of implications. The quality of education that is available in Nigeria and skilled people also affect investors’ interest as does the quality of life in the country. The forex policy needs to align with all these aspirations. If we take a short-term view in reacting to a particular problem today without considering the longer term implications, we may trigger unintended consequences; such that capital that should come in at portfolio level is not coming

in at sufficient quantity or there is insufficient trade to support the totality of the investment aspiration. One of the reasons for the country’s forex challenge was the absence of a trade policy. Presently, the country does not have a trade policy, what is your take on that? The Ministry of Industry, Trade and Investment and the relevant agencies responsible for trade have been working on a modern trade policy for Nigeria. That work is still ongoing. In your opinion, why do you think the Lagos port congestion remained a difﬁcult challenge to resolve? There are a lot of vested interests in government and outside of government. There are very few problems that are impossible to solve if you have the political will to do it and the right set of people to confront the vested interests. Those confronting the vested interests needed to be supported to ensure that they see the required policy reforms through. In my view, the port issue is a case of vested interests that hold the country to ransom at great material costs. What were the reasons behind your investigation by several agencies of the government on fraud allegations? Reform is generally not popular when people are used to doing things in a particular way. I came from a culture where work was a big deal. I came from a culture of accountability and one that drove for results. Many people are not comfortable operating under these conditions. I believe in meritocracy. The people who do the work should be rewarded for doing the work. And I guess that, that push for reform was not popular. Even demanding from the staff that every department must prepare a report of its activities on a quarterly basis so that it feeds into the publications that go out from the organisation was not very popular. In my five years in NIPC, if you look at NIPC’s revenues from the last report that we published, which was for June 2021, from January 2016 to June 2021, the NIPC generated a total IGR of N11.9 billion. The payments that were made to the Consolidated Revenue Fund (CRF) of government in that period were N5.8 billon. Even though we were required by law to make those payments to the Consolidated Revenue Fund, I faced opposition in complying with that requirement. The opposition started internally from staff and was driven in many ways by some Governing Council members that came with their own interests. In fact, a Governing Council member was behind three court cases that were instituted against me. One was to have me removed from office on allegations of corruption; the other two were instituted to frustrate NIPC from performing the functions for which it was mandated. There were two ways to deal with these allegations when they were made. One was to resort to the court of public opinion where people who are not fully informed make comments about matters they know nothing about. Then there are government agencies that have authority and power to investigate. And in the course of my five years in NIPC, I was investigated by the Code of Conduct; the ICPC, the Accountant General of the Federation, the Auditor General of the Federation, the Department of State Services, the Bureau of Public Procurement, the Presidential Villa and the final one that blew into the public domain was the investigation by the EFCC - eight bodies investigating only me. The recent letter that the ICPC wrote should encourage others who have a reform mindset that you will get opposition; you will get a lot of attempts to distract you, but it is possible to live by your principles and to serve Nigeria. What speciﬁcally, did they allege you did wrong? The ICPC letter referred to a number of allegations but stated that the ICPC did not find any merit to the allegations that were made against me. The more important question is that some of these investigations went on for three years. There are people who made those allegations knowing they were false. What will happen to those people? If we are not careful, we will scare people who will want to work in Nigeria’s interest because of those who are used to the status quo? I mentioned Continued on page 25

T H I S D AY • MONDAY, JANUARY 10, 2022

THE MONDAY INTERVIEW

YEWANDE SADIKU

Investors Do Not Listen to What Policymakers Say, They Watch How They Behave and Treat Other Investors the remittance of N5.8 billion to government. Managed differently, those funds would have grown legs and gone in different directions. There is nothing wrong with whistle blowing because not everyone is doing the right thing. When these allegations were made, I had the option of “settling” so that the allegations and investigations would disappear. I chose the more difficult route of being investigated because I thought that it was the easiest way to defend my integrity. If you are a professional and the only thing you have is your integrity, then you will not mind having that allegation investigated, otherwise there will always be a comma. In the five years of promoting and coordinating investments in Nigeria, according to you, you’ve had to respond to different petitions, what made this last one different? My tenure ended on September 24, 2021. For me the cost of working for the government: the emotional cost, the financial cost, the spiritual cost and the intellectual cost were too high and I could not have afforded a second term. So I had indicated very early on that I was not inclined towards a second term. But there were people who could not take the pain of my style of accountability for another five years and wanted to ensure that I was not considered for a second term. So making a public show of what they knew were false accusations was an attempt at discouraging me for another term and discouraging the appointing authorities from considering me for another term. Would you say the petition was sponsored by powers that be? The petitions were not sponsored by the powers that be, they were sponsored by very selfish people with their own interests in mind. If the petitions were sponsored by powers that be, they would have had the powers to achieve the things they intended. But I am happy that the allegations were properly investigated. You were accused of embarking on foreign trips without express approvals of the governing council of NIPC. What ordinarily, was the process? The rules do not require the Governing Council of any government agency to approve trips undertaken by any chief executive. Even making that allegation demonstrated the ignorance of those behind it. The trips undertaken by senior people in government have procedures for approval. For heads of government agencies, it is the supervising minister and the Secretary to the Government of the Federation (SGF). And all the necessary approvals were sought for my trips. Another allegation was that you used the commission’s fund to repair your personal car. How true is this? As contained in the letter from the ICPC, none of the allegations was established. On the allegation of receiving “illegal foreign leave allowance”, shouldn’t that be the norm when one travels out on an official assignment? Was there anything other than that? What is paid on official assignment is estacode, so the allegation referred to something else. As I said, I think that we should respect the findings of those who did the proper investigations. You were also accused of “fraudulent abuse of office; waste and mismanagement of public funds through incessant tours and travels within and outside Nigeria without adding value to the commission. Did you? As I have said, there were lots of frivolous accusations aimed at distracting me. The ICPC did a thorough investigation. They asked for materials, they asked for evidence, they asked for payment vouchers, they asked for trips that I went on and what came from those trips. I think that it is unfair when allegations have been investigated and they were not established to be true to keep asking the person who was wrongly accused those questions. I think that it is important that we ask: if you made a false allegation knowing it to be false, what consequences should come to you to protect the next person from being distracted by false allegations? What should happen to the people that made the false allegations? There need to be consequences for wasting the time and resources of government agencies

“What I have found from my years of working with the government is that for every investor that desires growth and opportunities, there are few countries that are as robust and full of opportunities as Nigeria.That is the reality and I actually believe it. But there are many difﬁculties that have been placed in their way” on frivolous allegations. In many countries there are consequences for wasting public resources. We should not allow ‘professional petition writers’ to distract reformers. I was an Executive Director in a bank that I worked in for 21 years. I rose through the ranks from entry level and worked day by day to get there. From the remuneration perspective, the most senior directors in government get about N7.7 million per year; permanent secretaries and heads of parastatals earn N11 million per year. It is unfair for someone to leave an established career to work for government and be distracted from doing the work they were appointed to do. Sometimes, I want to cry when I think about it. It was a very difficult job to do and a difficult system to work. You want to reform, you want to focus on work, but many stakeholders have their own agendas. I left a career and knew I planned to return to the private sector, so it was important that I managed my affairs in a way that reflected the person I am. Will you accept to serve again if the government beckons on you? My honest response is that I learnt a lot from that experience. If I did not go through the experience of being investigated by multiple government agencies and dealing with three court cases instituted by a sitting member of the Governing Council of NIPC, who is still a member of the governing council as I speak, who used information from his privileged position to make these accusations, if I had not gone through that experience, I would not have learnt as much as I have done. There is a chemical process that glass

goes through to make it stronger. It is called tempering by heating and cooling the glass. So I have been tempered in that sense. The second thing is that if I had not gone through that experience many people would have believed that I “settled” myself while working for government. Now there is proof of how I managed myself. The objective was to tarnish my reputation but as someone said, it achieved the opposite of burnishing my reputation. The fact that I survived it, and that my head is held high, and we are having this conversation today, is an important message to pass to Nigerians. I see it as a vista of hope to show that it will be difficult but it is possible. I will be very circumspect to serve in the government again. The work of reformers is very tough and it is important that they have political support. This is not to allow them to abuse the system but to ensure that they are not distracted. Would you attribute the fraud smear to the fact that you went into the job without bringing in your own loyalists and forming a team loyal to you at the NIPC? Also, would you advise anybody going into public service to adopt that style? I am happy that you asked this question. I went in without anybody but I found a lot of people inside who were interested like me in serving Nigeria’s best interest, who worked with me to elevate NIPC’s reputation in other areas of reform. Nigeria is now regarded as an expert and thought leader on account of NIPC’s work. I would not have learnt as much as I did about the system if I did not work with the staff of NIPC. I

think a blend is probably more appropriate. We need people from outside who bring fresh perspectives but they must work with those that are inside the system. When I realised that they use circular to set traps for people who do not know the rules, I started building a database of circulars to know the rules of engagement. Today, I have a digital library of about 1,600 federal government circulars - from 1972 to 2021. Government communicates how it expects administrative matters to be handled and how public servants should conduct themselves in certain affairs. It will be difficult to comply if you do not know what these circulars say. I believe that you must first tick the box before you start thinking outside it. The rules do not stop you from innovating but you should not break the rules. So have you any regrets going into public service? No, because I accepted the assignment for spiritual reasons. I was on a pilgrimage when the appointment was announced in 2016. And I went back on the same pilgrimage in November 2021 to close the chapter. I don’t have any regrets but whether I will do it again is another matter. Was it beneficial? Yes, I learnt from it. If given another opportunity to serve in the public sector, is there anything you would do differently? Oh yes! There are. I came afterward to understand the civil service structure. Many organisations in the private sector talk about flattening the structure but the public service holds to its hierarchy. It is also important to go in with a small number of your team. If you work only with those you bring in, the changes you initiate will go with you. But if you work with the team you met, your reforms can continue after your tenure, but will happen slowly. Done with NIPC, what’s next for you? I have no political ambition but I feel strongly about Nigeria’s development and will be happy to support the country’s development any way I can. I am a private sector person and I will return to the private sector after I complete my extended holiday.

T H I S D AY ˾ MONDAY, JANUARY 10, 2022

FOCUS

Lagos First Lady @55: Ibijoke Sanwo-Olu as the Emerald Birthday ‘Babe’

Described as the redefinition of first ladyship, Dr. (Mrs.) Ibironke Sanwo-Olu epitomises equanimity, ebullience, and the quintessential and effervescent woman of substance writes Bayo Akinloye. To her husband, Governor Babajide Sanwo-Olu of Lagos, the first lady is more than a “beloved wife” and a “reliable partner” as she clocks 55

Helpmate Endless love

tately. Selfless. Soul-searching. Scintillatingly Simple. Superb. Dr. (Mrs.) Ibijoke Sanwo-Olu is a paragon of passion, perseverance and purposefulness. She exudes confidence, camaraderie, and commitment. Serious-minded, focused, and indefatigable, the Lagos governor’s wife has been described as the redefinition of the first ladyship. With a beaming, welcoming visage, the Lagos first lady has become an embodiment of the spirit of Lagos, linking governance with good-naturedness. It is little wonder Governor Babajide Sanwo-Olu while congratulating his wife on her 55th birthday, was unstinting in showering accolades on her. The Lagos first lady, a medical doctor, clocked 55 years on Saturday, January 8, 2022. She was born on January 8, 1967, to the family of Paulinus Olusegun Carrena of Popoaguda, a Brazilian descendant area of Lagos Island. Sanwo-Olu, in a statement signed by his Chief Press Secretary, Gboyega Akosile, on Saturday, described his wife as a courageous, amiable and kind-hearted and his strong pillar of support. The governor said his wife, a thoroughbred medical practitioner who represents the league of the brightest minds and pride of the profession, had touched the lives of millions of Nigerians and Lagosians, first as a medical practitioner and currently as the first lady of Lagos, since his assumption of office on May 29, 2019. “On behalf of the good people of Lagos state, I heartily congratulate my beloved wife, friend and reliable partner of many years on the occasion of her 55th birthday,” stated Sanwo-Olu. “Attaining the age of 55 years in grace, elegance, and good health is worth celebrating because of her remarkable contributions to the family, medical profession, Lagos state and humanity.” According to Sanwo-Olu, over the years, his wife and best friend has contributed immensely to the health sector, especially as a medical practitioner in Lagos’ civil service. “You served Lagos state government passionately for over 25 years,” Sanwo-Olu told his wife, Ibijoke, “climbing the ladder to become the chief medical director and chief executive officer at Harvey Road Comprehensive Health Centre in Yaba and later at the General Hospital, Somolu.” That is not all. The Lagos governor did not mince words regarding his wife’s precise role to precision in his occupying the most coveted office in Nigeria’s

commercial capital. “You are one of my backbones and great supporters during the electioneering that brought me into office on May 29, 2019, as the 15th governor of Lagos state,” added Sanwo-Olu about his wife. “You contributed and participated in the health mission of our campaign train.” The extensive campaign train transversed the nooks and crannies of Lagos, especially the grassroots and riverine communities, to offer free medical services to millions of Lagosians, particularly the needy and the downtrodden, who could not afford to pay for “such health services.” Further singing the first lady’s praise, Sanwo-Olu stated, “Since you became the first lady of Lagos, you have shown passion and commitment to issues relating to health, women and the girl child.” As a women and children advocate, Ibijoke has been vocal in your campaign against sexual and gender-based violence, especially on issues affecting the younger generations. As the chairman of the Committee of Wives of Lagos State Officials (COWLSO), the first ladies also provided leadership for women to support their husbands in public offices. “Ibijoke, you are a woman I will continue to cherish and love,” the governor waxed poetic, “because of your positive impact in my life, our children, our immediate and extended families and Lagos state.” To the Lagos governor, the first lady is “a good, caring and loving wife, a compassionate and committed mother to our children.” Full of praises for his wife, Sanwo-Olu’s countenance shone like a man falling in love all over again. “On this occasion of your 55th birthday, I pray that God will continue to be with you and Life walk together grant you good health to render more service to our beloved dear State, the medical profession has a master’s degree in public health (MPH) and humanity,” the Lagos governor wished his and a master’s degree in business administration (MBA). first lady. Industrious, talented and loyal, the first lady A graduate of the University of Lagos with an MBBS, a postgraduate diploma in Hospital and worked for the Lagos government for 25 years, Health Management (PGDHM), and a Diploma rising to become the Harvey Road Comprehensive in Anesthesia (DA), the unassuming first lady Health Centre CEO. It is not just the governor who can attest to exudes simplicity with style. Brimming with enterprising acumen, the governor’s wife also the first lady’s sterling qualities.

“I must confess that I am super-elated to pen down this congratulatory message to a woman I adore, revere and respect so much,” said Ayo Ogunsan, the Executive Group Chairman of the Lagos State Security Trust Fund (LSSTF). “When you talk of Dr Ibijoke Sanwo-Olu, you not only talk of the charismatic wife of the governor of Lagos state but a woman of substance who commands so much respect amidst the comity of first ladies everywhere.”

T H I S D AY ˾ MONDAY, JANUARY 10, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

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

08056356325

J A N U A R Y

S & P INDEX

7 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

INDEX LEVEL

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1/4 TO DATE

5.82%

N413.03/ 1 US DOLLAR*

OVERNIGHT

10.75%

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Oando, Medview, 14 Others Fail to Submit Full Year Results on NGX

Kayode Tokede A total of 16 companies worth N109.11billion in market capitalization have failed to comply with post-listing requirements of the Nigerian Exchange Limited (NGX) of filing audited result and accounts at stipulated period, THISDAY investigation has revealed. THISDAY learnt that three out of the 16 companies have not remitted six years results to the bourse, a development that has kept investors in the dark over their corporate earnings and possible dividend payout. The 16 companies include; Oando

Plc, Medview Airline Plc, John Holt Plc, Thomas Wyatt Nigeria Plc, The Tourist Company of Nigeria Plc, Goldlink Insurance Plc, International Energy Insurance Plc,, Standard Alliance Insurance Plc, and STACO Insurance Plc Others are Union Homes Savings & Loans Plc, Aso Savings & Loans Plc, Resort Savings & Loans Plc, Capital Oil Plc, Deap Capital Management & Trust, DN Tyre & Rubber Plc and Multi-Trex Integrated Foods Plc. THISDAY investigation revealed that most of the affected companies are faced with operational and regulatory bottlenecks, making it

difficult to submit audited result and accounts on the Exchange. For instance, Oando Plc that closed 2021 with a stock price of N4.42 and N54.9billion in market capitalization has not remitted audited financial statements for 2019 and 2020. In July of 2021, Oando entered into an arrangement with Securities and Exchange Commission (SEC) to settle all matters subject of litigation, among others. Consequently, the company held its 20018 Annual General Meeting (AGM) and investors anticipated further release of 2019 and 2020 accounts. However, a section of the

company’s shareholders believe the Securities and Exchange Commission (SEC) should be held responsible for Oando’s problems. Chairman, Progressive Shareholders Association of Nigeria (PSAN), Boniface Okezie, said the out of court settlement was best for the capital market and shareholders at large. He said: “In the next few weeks, we are expecting the company to release audited 2019 results to the public. However, in other companies, we don’t know their problems. The management of NGX and SEC should intervene and find out their problems.” Aside from Oando, Medview

Airline with market capitalization N18.8billion has not submitted 2019 and 2020 results to the bourse. The company in its interim result and accounts for the full year ended December 31, 2019 reported N220.38million profit as against N3billion loss reported in 2018. The value of Medview Airlines on the floor of the NGX has not moved below or above N1.62 in the last two years. As at October 15, 2021, data obtained from the local bourse showed that the company recorded zero trade and zero volume within the period under review.

Also, the airline has been among companies listed on the NGX’s free float deficiencies of 14.16 per cent. Chairman of the airline, Sheik Abdul-Mosheen Al-Thunayan, had blamed the performance on political tension and tight liquidity. Among the mid-capitalised companies that have not remitted results to the Exchange are three listed Savings & Loans companies worth a total of N12.59billion in market capitalization. The three companies are Resort Savings & Loans, Union Homes Savings & Loans Plc and Aso Savings Continued on page 28

LDR: Banks’ Deposits with CBN Drop by 58.14% in 2021 Nume Ekeghe On the heels of meeting the Central Bank of Nigeria (CBN) 65 per cent Loan-to-Deposit (LDR) ratio policy, banks and merchant banks deposit with the apex bank dropped by 58.14 per cent in 2021.

Banks and merchant banks through the Standing Deposit Facility (SDF) on daily basis deposit excess funds with the apex bank at an applicable interest rate of 4.5 per cent at an asymmetric corridor of +100/-700 basis points around the 11.5 per cent Monetary Policy

Rate (MPR). SDF is a monetary policy operation used by CBN’s around the world to absorb deposits from banks, without involving the use of government securities as collateral in return. THISDAY gathered from the

central bank’s financial data that banks and merchant banks deposit dropped to N3.03trillion in 2021 from N7.25trillion in 2020. The CBN had in July 2019 directed that banks’ daily deposits placement through its SDF should not exceed N2 billion, stressing that any daily

deposits above the stipulated amount will not attract interest payments. According to THISDAY investigation, as banks’ and merchant banks deposit dropped in the year under review, borrowing significantly appreciated. As gathered by THISDAY, Banks’

and merchant banks borrowings from the CBN grew by 79.3per cent to N13trillion in 2021 from N7.25trillion in 2020. The reflection is increased dependency by banks and merchant Continued on page 28

M A R K E T D ATA A S AT F R I D AY, J A N U A R Y 7 , 2 0 2 2 FGN BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

Contract

Current Rate ($/₦)

C Ps MATURITY

Discount Yield

Change (%)

9.35

9.44

0.17

9.50

9.79

0.00

16.71

17.83 0.00

9.43

9.77

0.00

NGUS FEB 23 2022 422.61

NGUS MAR 30 2022 424.04

4.06 0.00

NGUS APR 27 2022 425.46

MREP CP XXXVI 11-FEB-22 UNCP CP VI 2-MAY-22 NEVE CP I 24MAY-22 DANC CP II 25MAY-22

3.73 0.00

NGUS MAY 25 2022 426.89

106.13

7.69

0.13

NTB 10-Feb-22

4.00

4.01 0.00

109.84

9.11

-0.01

NTB 10-Mar-22

2.98

3.00 0.00

107.93

10.54 0.00

NTB 28-Apr-22

4.50

4.56 0.00

103.15

11.50 0.00

NTB 12-May-22 4.00

115.05

12.27 0.00

NTB 9-Jun-22

3.67

CONTRACT TENOR (MONTH) 1

NGUS JAN 26 2022 421.18

MONDAY, JANUARY 10, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

APSAN Members Afﬁrm Access to CBN’s N503.3bn Intervention to Farmers James Emejo in Abuja The National Present, Agricultural Produce Sellers (Dealers) Association of Nigeria (APSAN), Mr. Aloys Akortsaha, has said that 20,000 members of the association have so far benefited from the N503.3 billion disbursed under the Central Bank of Nigeria (CBN) intervention programme for farmers in the country. He said a total of 881, 000 Nigerians had also accessed the fund, which is currently being administered by the NIRSAL Microfinance Bank (NMFB). Akortsaha, during a media briefing on CBN-NIRSAL MFB intervention to boost agriculture, said encouraged farmers especially agro-business dealers to seize the opportunity provided by the federal government and make judicious use of the funds. He said when the intervention

is properly utilised, the CBN and NMFB would be encouraged to do more to enhance food production and create more jobs. According to him, “We are of the belief that empowering farmers and agri-preneurs is tantamount to strategically diversifying the economy into agriculture since the agricultural policy roadmap remains a major option to diversifying the nation’s economy.” The association also expressed its vote of confidence on NMFB, which has about 115 branches spread across the country. It further expressed support for the various agricultural intervention schemes and business support programmes by the apex bank and urged business and households to take advantage of the offer. Specifically, the APSAN president said the CBN’s Targeted Credit Facility (TCF), AGSMEIS, Anchor Borrowers’ Programme among

others have had positive impact on wellbeing of farmers and the economy in general. He said, “Posterity will judge us harsher if we deliberately refuse to acknowledge or appreciate worthy efforts but quick to condemn or rush to criticise. We must not only

be seen or heard criticising but also be heard lending our support to good cause. “The fact remains that this is the first time a programme is impacting the lives of ordinary Nigerians especially the grassroots without any interference from the powers

that be. it is worthy of commendation and recommendation.” The CBN had recently announced that it has disbursed N791 billion to over three million farmers across the 36 states, under its Anchor Borrowers’ Programme (ABP). The Director, Development

Finance Department of the bank, Mr Yusuf Yila, stated this in Abuja, during an interaction with newsmen. Yila said the apex bank had reduced interest rate on the loan from nine per cent to five per cent, to encourage more farmers to have access to the credit.

SON Moves to Standardise Nigeria’ PORT DEVELOPMENT… Oil and Gas Sector Gilbert Ekugbe The Standards Organisation of Nigeria (SON) has announced plans to standardise the nation’s oil and gas sector in its bid to enhance products and services quality attainment in the sector beginning from 2022. The Director General, SON, Mallam Farouk Salim, gave the indication in Abuja while inaugurating a Steering Committee to coordinate modalities for implementing the provisions of SON Act No 14 of 2015 as it relates to the nation’s oil and gas sector. According to him, the organisation under his leadership is determined to ensure that every area of operation in Nigeria’s Oil and Gas Sector is standardised to guarantee quality, safety and a sustainable environment in line with international best practices. The SON Chief Executive disclosed that steps have been taken to develop greater human and material capability in the organisation to provide necessary technical support to the oil and gas sector in such areas as piping inspection certification, piping construction, storage tank inspection and certification, asset management standards Other areas include quality management system requirements for the petrochemical, oil and naatural gas industry, basic offshore safety

L-R: Head, SIFAX Inland Container Terminal, Ijora Causeway,Paul Linden; Oluwo of Iwo Land, Osun State,Oba Abdulrasheed Adewale Akanbi; Group Executive Vice Chairman, SIFAX Group,Dr. Taiwo Afolabi; Managing Director, China Civil Engineering Construction Company (CCECC) Nigeria Limited,John Jiang and Lead Engineer, CCECC Nigeria Limited, Water Wary, during the SIFAX ICT pavement construction contract signing ceremony between SIFAX Shipping ICT Limited and CCECC held in Lagos... recently

induction and emergency training amongst others. While acknowledging global trend in reducing dependence on oil and gas, Salim posited that the industry will continue to be relevant for some time to come, stressing that effective regulation is therefore imperative for optimum value attainment. He explained that “SON’s quality foray into the oil and gas industry is phased into short, medium and long term due to the strategic importance of the sector to Nigeria’s economy and the attendant need to establish, maintain and improve standards, assure accuracy of measurements as well as the safety and durability of products and services within the industry.” The SON Director General tasked the Committee with the responsibility to enhance SON’s activities and strategic repositioning in the oil and gas industry to effectively regulate quality and promote international best practices. The SON Chief Executive posited that the organisation is prepared to overcome challenges that may arise in the course of striving to improve standardisation and quality assurance in the Oil and Gas Sector. He expressed his confidence in the competence of the Committee members to deliver on the assignment given their wealth of knowledge and experience.

Nigeria Must Return to Agriculture for Economic Sustainability, FG Insists Emma Okonji President Muhammadu Buhari has said Nigerians must return to agriculture in order to become a self-sustaining nation. Buhari who spoke recently on a national television, said agriculture could sustain the Nigerian economy, if properly harnessed. He said although insecurity could pose a serious challenge to agriculture, but he insisted that Nigerian youths must be encouraged to embrace agriculture. “Only 2.5 per cent of our arable land is currently being utilised and we need to take advantage of our vast arable land to produce what can feed Nigerians and other countries of the world. When we closed our borders to importation of foreign rice recently, Nigerians were able to grow rice that can now feed Nigerians and we can even export rice to other countries of the world,” Buhari said. Giving clarification about the appointment of Dr. Doyin Salami as his Chief Economic Adviser, Buhari said the choice of Salami was

necessary because he has proved to the Federal Executive Council (FEC) members that he has ideas on how to better grow the Nigerian economy. When he briefed FEC recently, he told us that only 2.5 per cent of Nigeria’s arable land in currently being utilised and that Nigeria can do well in agriculture. “If we had invested massively in agriculture several years ago, we would have grown our economy to a more higher level than it is today. So the choice of Salami is apt because he understood the Nigerian economy a lot better and he is just like a professor of economic matters, even though he is not yet a professor. I believe in him and in his judgement, hence I have to appoint him to take up that position. Nigeria needs him because he is patriotic and committed,” Buhari said. He explained that he would like to leave Nigerians with a free economy that is free from smuggling, free from becoming a dumping ground to developed countries of the world, adding that he has obligation to protect the economy of Nigeria. To achieve this, Buhari said Nigerians

must begin to create employment and take advantage of technology to drive the Nigerian economy. Buhari who frowned at the electricity supply of the country, said no country can survive without adequate infrastructure put in place by government. He gave clarification about the Chinese loans that his administration is involved in, and said the loans were being used to develop the Nigeria road and railway infrastructure. According to him, his administration made progress in road and railway infrastructure through the Chinese loans. The Chinese loan is welcomed at anytime because it is working for Nigeria, Buhari insisted. On the plans to take 10 million Nigerians out of poverty, Buhari said work was in progress to achieve the goal, but reiterated the need for Nigerian youths to embrace agriculture, which he said was a sure way to move Nigerians out of the poverty level. He however regretted that Nigeria has land ownership issues in the southern part of the country, which he said had become

hindrance to agriculture in Nigeria. He however said the northern part of the country does not have such challenge because land belongs to the federal government in the northern part of the country. Buhari said he understood the difficulties and pains that Nigerians are passing though to the extent that majority cannot feed well, but he insisted that Nigerians must embrace agriculture to alleviate their sufferings and pains. On the issue of the planned release of Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB), Buhari said he would not interfere with matters of the judiciary, since the matter is in court. “Kanu was in Europe abusing Nigerians and the federal government and laying all manners of accusations against the federal government. Now he is in Nigeria to defend himself. He should be left to defend himself with the court and I do not think I want to interfere in that matter because I will like the judiciary to handle it according to the law,” Buhari said.

listed companies. The Managing Director, APT Securities and Funds Limited, Malam Garba Kurfi said: “Oando has a special case in view of the facts that regulatory sanctions lead to suspension of its AGM for many years. Who will appoint an auditor to audit Oando financials impacted on early filing of results recently and we expect the auditors to submit Oando’s audited accounts within the frame times given to them if any. “For Medview, the company has not been flying and some of its flights have been disposed of to one of the operating companies. Update

information not released to the market and being suspended from trading in the market is not enough by the Exchange. But I expected the regulating bodies to visit the company and know what are the plans for the market are because we are still in darkness. For Medview to delist on the Exchange is not good for the market .The regulators needed to revisit the suspended company and brief the market so that the buyer would be aware.” He suggested that: “capital markets regulators needed to be following up with the companies and update the market on their progress

report or a dealing member assigned to them for update. This will keep the market informed of what is going on with the company, not just mere delisting from the Exchange.” In his view, analyst at PAC Holdings, Mr. Wole Adeyeye said: “Historically, some companies that had unimpressive financial year or quarter usually submit their results late. He said, “They usually wait for the next quarter to see if things would turn around so as to submit the two reports together. Impressive results usually have a positive impact on the share price and vice versa.”

Institutions’ Ratings Agusto & Co, Mr. Ayokunle Olubunmi, said: “Because CBN is implementing the discretionary CRR, banks where being careful in terms of sourcing for deposits because it doesn’t make sense for you as your bank to get deposits and then CBN is actually

holding them sternal. So, banks are being careful with deposits. “2022 is going to be much more drastic if the CBN does not change their stance. Because what we have seen last year is that banks are getting a bit more reluctant to lend. If not well managed, it could

cause a dysfunction in the economy.” A Banker who pleaded anonymity said some banks query their staff if customers bring in huge deposits and would however advice their customers with huge funds to channel it to Treasury Bills or other instruments.

OANDO, MEDVIEW, 14 OTHERS FAIL TO SUBMIT FULL YEAR RESULTS ON NGX & Loans Plc. With N7.37billion in market capitalization as at 2021, Aso savings & Loans lead Union Homes Savings & Loans and Resort Savings & Loans that closed the same year at N2.95billion and N2.27billion in market capitalisation. ASO Savings & Loans and Union Homes Savings & Loans Plc have not remitted 2014 and 2020 financial year, while Resort Savings & Loans has not submitted to the Exchange 2018 and 2020 audited results. Meanwhile, The Tourist Company of Nigeria with N6.38billion in market capitalization has failed to

remit audited financial statements for 2020 while STACO Insurance with N4.48billion in market capitalization has failed with comply with postlisting requirement of submitting 2018 and 2020 audited results to the Exchange. In addition, Multi-Trex Integrated Foods with N0.36 in stock price, closed 2021 with market capitalization of N1.34billion. THISDAY can report that some of these companies are undergoing restructuring, while some are about to delist from the Exchange. For instance, The Exchange has approved for NGX RegCo to proceed

with the process of delisting The Tourist Company of Nigeria and Multi-Trex Integrated Foods. Also, the bourse has placed Deap Capital Management & Trust Plc on delisting watch list. Union Homes Savings & Loans Plc, Aso Savings & Loans, Goldlink Insurance Plc, International Energy Insurance Plc, Thomas Wyatt Nigeria Plc, DN Tyre & Rubber are currently undergoing restructuring. Capital market analysts attributed the non-remittance of audited results to poor corporate earnings, demanding from capital market regulating bodies to follow up on some of these

LDR: BANKS’ DEPOSITS WITH CBN DROP BY 58.14% IN 2021 banks on the CBN to cope with the intense scarcity of funds, which prevailed in the interbank money market for most part of 2021. The CBN had noted in its 2019 guidelines that the N2billion deposit represents 73 per cent reduction from the previous limit of N7.5 billion

introduced way back in 2014. In November 2014, the CBN said it observed that banks and discount houses preferred to keep their idle balances in the SDF with the CBN. Unfortunately, this preference contributed to the restraining of the financial intermediation process, the

reason the CBN opted to review the guidelines for the operation of the standing deposit facility. The review recommended that daily placements by discount houses and banks at the SDF should not exceed N7.5 billion. Commenting, Head Financial

MONDAY, JANUARY 10, 2022 ˾ T H I S D AY

BUSINESSWORLD

STATUS REPORT

PZ Records Proﬁt Amid FX Loss

Kayode Tokede

Z Cusson Nigeria financial year result and accounts for the period ended May 31, 2021 showed a performance that migrated from loss to profit, driven by significant increase in revenue and non-core business income. Interplay between hike in foreign exchange loss and significant increase in cost of sales had threatened the multinational company’s profit & loss figures recovery in the year under review. The company did not declare a dividend but the final dividend for the year ended May 31, 2020 will be paid during the year ended may 31, 2021, while final dividend for the year ended May 31, 2019 was paid during the year ended May 31, 2020. For the year under review, the management of PZ Cusson Nigeria is to pay a final dividend of 25 kobo per share amounting to a total dividend of N992.6million, subject to the approval of shareholders at the Annual General Meeting (AGM) taking place this month in Lagos. The company’s revenue hit a 5-year high in 2021, driven by growth recorded in its home and personal care products and durable electrical appliances amid low purchasing power due to double-digit inflation, among other factors. The breakdown of revenue in the last 5-year revealed that PZ Cusson Nigeria reported N82.58billion revenue in 2021, an increase of about 23.3per cent from N66.99billion reported in 2020. PZ Cusson Nigeria had reported N74.34billion revenue in 2019, a decline of 7.7per cent from N80.55billion reported in 2018 and closed 2017 with revenue of N78.22billion. The company’s home and personal care products includes morning fresh, Zip, Canoe, Premier, Excel, Joy, Stella, Venus, Imperial leather, Cussons Baby, Original Source, Carex, Robb, among others. The Dural electrical appliance of PZ Cussons includes Thermocool Refrigerators, Freezers, Televisions, Generators, Air conditioners, Washing Machines, among others. For the year under review, the company reported 23 per cent increase in its Home and personal care products revenue to N47.8billion in 2021 from N38.94billion reported in 2020, while revenue from

Durable electrical appliances gained 24 per cent to N34.74billion in 2021 from N28.05billion reported in 2020. Revenue generated in Nigeria increased from N64.97billion in 2020 to N79.2billion in 2021, while revenue from export grew by 66.75per cent to N3.37billion in 2021 from N2.02billion reported in 2020.

the company report Exchange loss of N5.95billion as against N945.86million reported in the prior year. Closing foreign exchange rate in 2021 was N412 per dollar from N389.86 per dollar in 2020. On this, operating profit closed 2021 at N1.19billion as against N7.97 operating loss recorded in 2020.

COST OF SALES Cost of sales for the period grew by nearly two per cent to N59.48billion in 2021 from N58.32 billion reported in 2020. Consequently, Cost of sales/revenue dropped to 72.03 per cent in 2021 from 87.06 per cent in 2020. The growth in revenue contributed to 166.42per cent increase in gross profit to N23.09billion in 2021 from n8.67billion reported in 2020. This dragged gross profit margin to 27.9 per cent in 2021 from 12.94 per cent in 2020. PZ Cusson Nigeria is exposed to commodity price risk arises from specific needs to buy quality and quality to meets its manufacturing standards. These raw materials include crude palm oil, tallow, sodium silicate and linear alkly benzene. The company has been effective with its method of purchasing these materials in advances and this is based on management’s past experience with price movement in Nigeria. On total operating cost, PZ Cusson Nigeria reported N15.95billion in 2021, 1.6 per cent increase from N15.69billion reported in 2020, driven primarily, N50.12billion changes in inventories in finished goods and work in progress in 2021 from N50.34billion reported in 2020. The breakdown revealed that selling and distribution expenses dropped by 7.4 per cent to N9.33billion in 2021 from N10.08billion in 2020, while administrative expenses rose by 19.3 per cent to N6.54billion from N5.58billion reported in prior year. Due to operating environment, the company recorded a 38.02 per cent decline in impairment of trade receivables to N85.06million in 2021 from n137.24million in 2020. The impairment loss as at May 31, 2021 related to several customers that are not expected to be able to pay their outstanding balances, mainly due to economic circumstances. Interestingly, in the year under review,

NON-CORE BUSINESS INCOME PZ Cusson Nigeria reported N2.08billion income from non-core business income in 2021 from N179.14million in 2020. Key factors that contributed to growth in non-core business income was N179.03million income from scrap sales and rental income in 2021 from n177.64million in 2020, while profit on the disposal of fixed assets moved from N1.5million to N1.9billion in 2021. According to the company: “The profit on disposal relates mainly to the sale of part of factor land at Ikorodu. The portion of the land sold to FrieslandCampina Wamco Nigeria is approximately 67,733,235 square metres, the company received the sum of N2.124billion as consideration for the sales resulting in profit on disposal of N1.899billion subject to a capital gains tax of N187.35million.” From the profit & loss figures, PZ Cusson Nigeria reported 21.8 per cent decline in interest income to N238.56million in 2021 from N304.97million in 2020 as interest cost dropped significantly by 84.3 per cent to N71.48million in 2021 from N454.23million reported in 2020. Meanwhile, the group closed the year with N3.44billion profit before tax from loss before tax of N7.94billion reported in 2020 financial year. With tax expenses of N1.7billion, PZ Cusson Nigeria reported profit of N1.69billion from loss of N7.21billion reported in 2020. Home and Personal Care contributed N1.88billion to the group profit before tax in 2021 while Durable electrical appliances added N1.56billion in the same year. Home and personal care products accounted for N6.35billion loss before tax in 2021 and Durable electrical appliances recorded a loss before tax of N1.59billion in 2020. Profit before tax margin moved from negative 11.9 per cent in 2020 to 2.18 per cent in 2021. With the positive performance in profit, the group migrated from a loss of N1.74 basic and diluted loss to N0.37 basic earnings per share

in 2021. TRADE, PAYABLE CONTRIBUTES TO LIABILITIES PZ Cusson Nigeria closed the year with N43.74billion in trade and other payables from N37.2billion, contributing 82.85 per cent of the total liabilities in 2021 from 83.08 per cent in 2020. Included in the group’s trade and other payable as at May 31, 2021 and May 31, 2020 are balances due to the related parties of N24.2billion and N27.9billion respectively, while that of the company is N28.2billion and N20.9billion respectively. The company closed 2021 with a total liability of N52.79billion from N44.78billion in 2020. The breakdown of total liabilities showed that current liabilities closed 2021 at N46billion from N38.06billion in 2020. Total non-current liabilities grew by 1.01per cent to N6.79billion in 2021 from N6.72billion in 2020. Meanwhile, PZ Cusson Nigeria reported a 12 per cent increase in total assets to N87.34billion in 2021 from N78.03billion reported in 2020. The group’s total non-current assets dropped by 7.3 per cent to N26.6billion in 2021 from N28.7billion in 2020, while total current assets grew by 23.11 per cent to N60.7billion in 2021 from N49.33billion in 2020. Consequently, the group’s total liabilities/ total assets grew to 60.44 per cent in 2021 from 57.38 per cent in 2020. From the balance sheet position, total equity gained four per cent to N34.55billion in 2021 from N33.26billion reported in 2020. The group’s working capital of PZ Cusson Nigeria closed 2021 at N14.73billion in 2021 from N11.26billion recorded in 2020. ATTRACTING INVESTORS The group and company are controlled by PZ Cusson (Holdings) Limited, incorporated in the UK, which owns 73.27 per cent (2020: 73.27 per cent) of the group and company’s shares. The remaining 26.73 per cent (2020: 26.73 per cent) of the shares are widely held. The recent performance by PZ Cusson Nigeria has not attracted local/foreign investors to its stock. With outstanding shares of 3,970,477,045.00, and trading at N6.70 as at January 7, 2022, earnings and dividend to shareholders are two intrinsic factors eroding stock price on the Nigerian Exchange Limited (NGX). The company needed to sustain its revenue growth and source materials locally in a move to reduce cost of sales and drive bottom-line performance.

T H I S D AY ˾ MONDAY, JANUARY 10, 2022

BUSINESSWORLD

BANKING

Sterling Bank Set to Improve on 2021 Performance Following the consistent execution of its strategic business model of concentrating investments in five key sectors of the economy-Health, Education, Agriculture, Renewable energy and Transportation, under its HEART of Sterling programme, Sterling Bank is set to surpass its 2021 performance in the new year, writes Ugo Aliogo

espite the adverse economic headwinds that characterised the Nigerian macroeconomic environment in 2021, Sterling Bank Plc, Nigeria’s leading commercial bank has reported impressive financial performance during the period. The bank seems set to achieve this through the consistent execution of its strategic business model of concentrating investments in five key sectors of the economy under its HEART of Sterling programme. The five sectors are Health, Education, Agriculture, Renewable energy and Transportation. The Sterling Bank group posted a profit before tax (PBT) of N9.861 billion in the third quarter of 2021, a figure that is N1.837 billion higher than N8.024 billion made during the corresponding period in 2020. The bank also reported a PBT of N9.780 billion in the third quarter of 2021 as against N7.935 billion made during the same period in 2020, according to its consolidated unaudited group interim financial statement for the period ended September 30, 2021. The Bank disclosed that its group’s profit after tax stood at N9.465 billion for nine months in 2021, which is N2.096 billion higher when compared to N7.369 billion gained in the same period of 2020 while recording N9.384 billion in the third quarter of 2021 as against N7.280 billion gained in 2020 within the same period. Managing Director and CEO of Sterling Bank Plc, Mr. Abubakar Suleiman explained that despite the impact of COVID-19 on global and local economies, the bank remains committed to providing financial services to its customers while also working towards mitigating the impact of future uncertainties for its staff and customers. He added that, “Following our review of the current situation of the pandemic, the bank’s management remains confident of growth despite a mostly unpredictable economic environment.” A review of the bank’s performance during the year shows that it deployed resources to support key sectors of the nation’s economy in line with its strategic focus areas. In the past year, the bank has worked with Lagos, Cross River, Bayelsa, Kaduna and Ekiti state governments to build more robust and resilient structures in a bid to manage health emergencies better. In Cross River State in particular, the bank syndicated a consortium of partners in the design and implementation of a health insurance scheme, along with other policies, to digitise and improve access to records and ensure

“Following our review of the current situation of the pandemic, the bank’s management remains conﬁdent of growth despite a mostly unpredictable economic environment.”

Faseero

“The approval is sequel to the approval-inprinciple granted to the Bank for the restructuring as a holding company (HoldCo) and subject to the fulﬁllment of conditions as stipulated by the CBN.”

availability and delivery of much needed pharmaceuticals to create a de-risked health care value chain and improve health care availability. Most recently, the Bank has worked with the Lagos State Government on its newly launched Mass Vaccination programme that expands vaccination points beyond publicly run primary healthcare centres to include privately owned facilities. In his comments, the bank’s Divisional Head for Health Finance and Education Sectors, Mr. Obinna Ukachukwu, said the Bank has made innovative and strategic partnerships and investments, in both the public and private sectors, to improve healthcare and transform the industry. Including but not limited to providing free access to tele-medicine services, starting the Health Workers’ Fund to assist frontline health workers in the fight against the Covid-19 pandemic and building testing platforms for Covid-19 during the initial phase of the pandemic. In the education sector and in line with its mission to improve the standard of education in the country, Sterling Bank provided interest-free financing for schools. The bank also supported the Ake Arts and Books Festival for the third consecutive year with the 8th edition of the festival hosted online. The programme, which was held virtually for the second year running due to the Covid-19 pandemic, was headlined by Professor Abdulrazak Gurnah, winner of the 2021 Nobel Prize for Literature. It featured 30 events, including book chats, panel discussions, documentary and film screenings, a poetry video album, an art show-case and a music concert. The festival

also curated five intergenerational conversations that reflected the 2021 festival theme: Generational Discordance. The three-day festival featured ‘The Life and Times Series’ event with Booker-Prize shortlisted author, Maaza Mengiste, in a conversation with the festival headliner, Professor Abdulrazak Gurnah. In one of the key highlights of the festival, Professor Gurnah, a Tanzanian author, spoke about the invasion of East Africa and noted that until recently, most conversations about colonial presence in Africa had always excluded Germany. The Nobel Laureate, however, used his novel as a medium to narrate how Germany established colonies in present-day Namibia, Cameroon, Togo, parts of Tanzania and Kenya as well as Rwanda and Burundi. Director and Founder of Ake Arts and Books Festival, Lola Shoneyin, used the occasion to commend Sterling Bank for supporting the festival over the years. She said, “Having Sterling Bank by our side makes our heads swell. From their commitment to the belief in the transformative power of our stories and for helping us document and archive our ideas, we thank you.” Shoneyin said the Ake Festival has become the envy of cultural entrepreneurs and organisations across the African continent. She added that Sterling Bank has become the code word for companies that support the Arts with sincerity of purpose. Cultural activists across the continent often say they would love to have a ‘Sterling Bank’ to support them, she said. Sterling Bank also hosted the Agriculture Summit Africa (ASA) for the third consecutive year

in collaboration with Saro Africa, Leadway Assurance, Thrive Agric, AFEX Commodities Exchange Limited, GIZ AFC, MasterCard Foundation and Stears Data, among others. The theme of ASA 2021 was ‘Building The New Agro Order.’ Some of the key highlights of ASA 2021 included the need to develop a flexible supply chain against uncertainty and innovative finance in the wake of the Covid-19 pandemic. As part of its commitment to the development and growth of renewable energy in the country, Sterling Bank is blazing the trail as the first African corporate organisation to power its headquarters with solar energy with the installation ofBuilding Integrated PhotoVoltaic (BIPV) technology. Sterling Bank’s Group Head, Energy, Mr. Dele Faseemo, said the on-going installation, being undertaken in Lagos Nigeria following the official nod received from the Nigerian Electricity Regulatory Commission (NERC) and the relevant agency of the Lagos State Government, is a demonstration of the bank’s commitment to its vision of changing the Nigerian energy landscape towards the technologies of the future and impacting the nation’s energy economy remarkably. With the HEART’s strategy firmly entrenched, the bank’s current move to transit to a holding company appears to be inevitable. Specifically, Sterling Bank recently obtained the approval-in-principle of the Central Bank of Nigeria (CBN) to restructure as a holding company and operate a non-interest business arm, Sterling Alternative Bank Limited. Sterling Bank’s company secretary, Temitayo Adegoke, said the non-interest service will operate as a standalone bank, remarking that the non-Interest banking business will engage in trading, investment and commercial activities as well as the provision of financial products and services without the conventional interest charges. “The approval is sequel to the approval-in-principle granted to the Bank for the restructuring as a holding company (HoldCo) and subject to the fulfillment of conditions as stipulated by the CBN, ”Adegoke said. She said the Alternative Bank Limited will focus on building partnerships that connect individuals and businesses leveraging technology to create business optimisation while solving individuals’ daily financial needs. “The overall business will focus on social impact, corporate responsibility, and ensure religious compliance in all its dealings, “she added.

MONDAY JANUARY 10, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, JANUARY 10, 2022

BUSINESSWORLD

NEWS

LASU VC Restates Commitment to Digital Education, Signs MoU with VDT Emma Okonji The Vice Chancellor, University of Lagos (LASU), Prof. Ibiyemi OlatunjiBello has restated the university’s commitment to digitalise education across all departments and faculties of the university, through a robust internet connectivity access. Olatunji-Bello restated the commitment at the weekend in her office in the Ojo main campus of the university, during the signing of

a Memorandum of Understanding (MoU), between the university and VDT Communications Limited, a broadband internet service provider. While Olatunji-Bello signed on behalf of the university, the Group Managing Director of VDT, Biodun Omoniyi, singled on behalf of the company. According to Olatunji-Bello, “My Vision for LASU is to digitalise education across all departments and faculties with robust internet

Stanbic IBTC Capital Wins Awards Nume Ekeghe Stanbic IBTC Capital, a subsidiary of Stanbic IBTC Holdings PLC, has emerged winner in five out of 10 award categories at the Association of Issuing Houses of Nigeria’s (AIHN) 2021 Investment Banking Awards ceremony, which held recently. Stanbic IBTC Capital’s outstanding capabilities were recognised in the following award categories: Best Investment Bank in Nigeria, Best Bond House in Nigeria, Best Commercial Paper House in Nigeria, Best Mergers and Acquisitions House in Nigeria and Best Corporate Bond Deal in Nigeria. The awards are a testament to its commitment to excellent service delivery. The annual AIHN Investment Banking Awards is organised to recognise the achievements of investment banks who have in the course of the year demonstrated excellence and achieved great wins. Chief Executive, Stanbic IBTC Capital, Mr. Funso Akere, expressed

his excitement at the recognition, stating that the awards affirm that the institution’s hard work and dedication have not gone unnoticed. He said: “This has been a spectacular day for us at Stanbic IBTC Capital as this has strengthened our resolve to continue to seek innovative ways to deliver on our clients’ expectations. Emerging winner in five out of ten categories is no small feat and this demonstrates the commitment and dedication of our team. We will continue to deliver excellent services to our clients.” While commending the AIHN, Akere also extended his appreciation to clients for their trust in Stanbic IBTC Capital to deliver excellently and reassured them of the continued delivery of quality services. It can be recalled that during the 2020 edition of the awards, Stanbic IBTC Capital clinched several awards including Best Merger and Acquisition House, Best Merger and Acquisition Deal, Best Commercial Paper House and Best Investment Bank.

access, that will enhance teaching, learning and academic research. It is for this reason that we are having an MoU with VDT to provide internet access in our main campus in Ojo and in our branch campuses in Ikeja and Epe in Lagos State.” With the MoU, my vision to digitalise education on our campuses is about 70 per cent achieved and it gives me joy, Olatunji-Bello further said. Speaking on the choice of VDT for the project, the VC said: “VDT is a tested and trusted partner of the Lagos State University. We have worked with VDT when I was the Vice-Chancellor of the University and it had always performed well. Before I was made the VC of the

university three months ago, we had no internet connection on campus. I had always had this passion for ICT development on campus, so I set up a committee who called for open bid to connect the entire university and its branch campuses with internet connectivity, and VDT applied and won. Today we have signed an MoU with VDT to connect all our university campuses with internet.” The Director of ICT at LASU, Dr. Toyin Enikuomehin said the MoU signing would help to achieve the vision of the VC, who had always desired to have a blended education for the students, where courses are thought online and where technology will be the driver of the university’s

curriculum. According to him, “Having access to Internet is a sign that we have to be on top with technology innovations and research. With the MoU, LASU will have robust web visibility, which has been the dream of the university administration.” Giving details of the MoU signing, Omoniyi said though it, VDT Communications would bring her wealth of experience, innovation and expertise to transform and take broadband internet service provision in the institution to a soaring height. Omoniyi said: “This will decongest the classrooms and enable academic faculties to provide lectures remotely to students, enable the students to receive lectures within the campuses

without both parties having to be physically present in a traditional classroom setting. This will also support the admission process of new intake, new classes registration process of existing students as well as dynamic ICT growth of the institution to world class standard. “Enhanced internet provision for the three LASU campuses will equally ensure seamless operation and facilitate online engagement of stakeholders for payment, easy access to learning materials, lecture notes, videos and other online resources. The digital world promotes transparency, accountability, smooth processing of administrative activities and communication with each of the campuses.”

CITM Tips Idris as Pioneer President James Emejo in Abuja The Chartered Institute of Treasury Management (CITM) has nominated the Accountant General of the Federation (AGF), Mr. Ahmed Idris, as its pioneer president. The Registrar of the institute, Mr. Olumide Adedoyin announced the nomination when he led a team of

council members to present the charter of the institute to the AGF in Abuja. Adedoyin, pointed out that Idris’ position as the head of the treasury of the federation and his vast experience in cash management made him eminently qualified to lead the institute. He expressed optimism that the AGF would provide purposeful and result-oriented leadership for the

institute, adding that his position as president will be ratified through voting by members of the council. However, Idris, in his response, accepted his nomination as the pioneer president of CITM and congratulated the council for securing presidential assent for the Act establishing the institute as well as commended them for diligently handling the affairs of the

institute. He also prayed for strength and courage to successfully pilot the affairs of the institute. In a statement issued by Director, Information, Press and Public Relations, Mr. Henshaw Ogubike, he also tasked members to undertake research and come up will viable ideas that will add value to government’s reform initiatives.

Futureview Urges Investors to Take Advantage of Mutual Funds As investors begin to review their portfolios for alpha returns in 2022, the Group Managing Director, Futureview Group, Mrs Elizabeth Ebi has advised them minimize risk and maximize returns by investing in mutual funds. A mutual fund is a pool of funds collected from numerous investors for the purpose of investing in securities

such as stocks, bonds, money market instruments and related assets. Mutual funds are operated by professional fund managers, who invest the fund’s capital to produce capital gains and income for the investors. Futureview is currently offering Futureview Dollar Fund and Futureview Equity Fund. Both Funds are targeted at investors across the

board. Commenting on mutual funds at the weekend, Mrs Ebi said the asset class provided an ample opportunity for investors to diversify their risks and enjoy regular income. According to her, investment mutual fund hedges investors against the risk of inflation in

an environment characterized by uncertainties. She noted that since mutual funds are managed by professionals, this save investors the ordeal of getting their fingers burnt. “ The benefits of mutual funds cannot be over-emphasized. The asset class enables an investor to diversify his risk and at the same time enjoys steady income.

MONDAY, JANUARY 10, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

NIMASA, NDLEA Close Ranks Against Illicit Drugs The Nigerian Maritime Administration and Safety Agency (NIMASA) and National Drug Law Enforcement Agency (NDLEA) have agreed to strengthen cooperation in the execution of their respective mandates in the country’s common interest. Director General of NIMASA, Dr. Bashir Jamoh, and Chairman/ Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (rtd.), said

this recently, when Jamoh paid a courtesy visit to Marwa. They admitted that success in the fight against maritime crimes and drug smuggling will depend on good teamwork between the two agencies. During the visit, issues bordering on national security were discussed, especially as they relate to how both agencies could synergise to tackle

the problem of international drug smuggling via the country’s seaports. Jamoh identified the need for closer ties between NIMASA and NDLEA, saying the trend of criminal elements attempting to take advantage of the country’s vast coastline to traffic illicit drugs poses a direct threat to national security. He stated, “Collaboration between NIMASA and NDLEA is key and

urgent, because our effectiveness as an agency in the pursuit of the mandates of maritime safety and security is closely tied up with the success of NDLEA in the fight against illicit drugs. “Drug trafficking is a major aspect of the maritime safety and security challenges confronting the country. Our vast coastline is prone to exploitation by illegal drug dealers, with

enormous adverse implications for the lives of citizens and the national economy.” Jamoh added, “Globally, there is a growing realisation by organisations and even individuals that their fate with respect to the attainment of goals, is tied to collaboration among stakeholders. “The stark reality is that no one is an island. This is even more obvious

in the fight against illicit drugs due to the international, multidimensional, and multi-sectoral nature of the crime.” On his part, the NDLEA chairman recalled the major seizures recorded by the agency at the Apapa port towards the end of 2021 noting that with collaboration between NIMASA and the NDLEA, more success would be recorded.

NIPCO Positions Workforce for New Petroleum Downstream Regime Peter Uzoho With the downstream sector of the Nigerian oil and gas industry set for total deregulation in the coming months, in accordance with the provisions of the Petroleum Industry Act (PIA), NIPCO Plc has positioned its workforce for improved service delivery in 2022. Managing Director and Chief Executive Officer of NIPCO, Mr.

Suresh Kumar, in his New Year message, appreciated the company’s employees’ resilience over the years, noting that the new year offers a lot of opportunities which must be optimised by the fuel marketing company. The federal government is targeting to completely deregulate the petroleum downstream sector from the second half of this year. Deregulation seeks to remove unnecessary government

meddlesomeness in the pricing of petroleum products and usher in a market regime where prices will be determined by market forces, with resultant improved competition and increased investments. The NIPCO CEO said the company would continue to take its pride of place within the context of the emerging downstream sector under the PIA. He however urged the employees to brace up for the challenges ahead,

affirming that their dedication and commitment had contributed immensely to the company’s resilience over the years. Kumar said : “The entire workforce of the company needs to develop more synergy towards sustaining the company’s milestones and moving it to a higher level of efficiency for her to continue to occupy its pride of place within the context of the emerging downstream sector under the PIA.

“Our collective contributions in the outgoing year towards achieving milestones set by the promoters are commendable, nevertheless this is not to suggest that there is no room for improvement. I want you to note that with the enactment of the PIA, we all should be on our toes in order to improve our bottom line.” He assured of his continued commitment to put in the right welfare for the workforce to enable them

put in their best without sacrificing merit in the scheme of things. “I am honoured to lead a highly resourceful and competent crop of workers of your calibre, even as I urge that we continue to work hard as we usher in a new year. “My charge to you all is that you should be ready for more challenges and responsibilities in the year 2022 as such is the sure pathway to our success in the New Year and even beyond,” Kumar stated.

MONDAY JANUARY 10, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, JANUARY 10, 2022

HOMES&DESIGN Oban Tower: Urban, Blissful and Homely

MONDAY, JANUARY 10, 2022 ˾ T H I S D AY

HOMES&DESIGN

Oban Tower: An Urban Skyscraper Serenading Lagos Skylines Oban Tower, Lagos, has 29 floors and is being developed by Eko Development Company Ltd., in Eko Atlantic City, where skyscrapers congregate on Lagos skylines. Bennett Oghifo writes

ban Tower is rendered with the best materials that befit a top-notch residential facility in a sturdy environment. The building is under construction and has reached its full height both structurally and architecturally (e.g., its spires, parapets, etc.). Its promoters planned to complete it last year. The skyscraper is residential; a singlefunction tower with 85 per cent of its floor area dedicated to a single usage, unlike a building with 90 per cent office floor area, which would fall into the category of an “office” building, irrespective of other minor functions it may also contain. Also, a mixed-use tall building contains two or more functions (or uses), where each of the functions occupies a significant proportion of the tower’s total space. Support areas such as car parks and mechanical plant space do not constitute mixed-use functions. Steel is a dominant structural material used in perfecting this exquisite residential tower. Thus, the main vertical/lateral structural elements and the floor spanning systems are constructed from steel. A building of steel construction with a floor system of concrete planks or concrete slab on top of steel beams is still considered a “steel” structure as the concrete elements are not acting as the primary structure.

REINFORCED CONCRETE Also, the main vertical/lateral structural elements and the floor spanning systems are constructed from the concrete cast in place and utilise steel reinforcement bars.

PRECAST CONCRETE The main vertical/lateral structural elements and the floor spanning system are constructed from steel-reinforced concrete, which has been precast as individual components and assembled on-site.

MIXED-STRUCTURE It utilises distinct systems (e.g. steel, concrete, timber), one on top of the other. For example, a steel/ concrete indicates a steel structural system located on top of a concrete structural system, with the opposite true of concrete/steel.

COMPOSITE A combination of materials (e.g. steel, concrete, timber) are used together in the main structural elements. Examples include buildings that utilise: steel columns with a floor system of reinforced concrete beams; a steel frame system with a concrete core; concrete-encased steel columns; concrete-filled steel tubes; etc. Where known, the Council on Tall Buildings and Urban Habitat database breaks out the materials used in a composite building’s core, columns, and floor spanning separately. The tower ’s design is by MZ Architects. The main contractor is ITB Nigeria Ltd. COMANSA is responsible for material supply and crane, and formwork by Doka GmbH. Note that because this project is architecturally topped out (under construction), the data is based on the most reliable information available. This data is thus subject to change until the building is completed; all information can be confirmed and ratified by the CTBUH.

MONDAY, JANUARY 10, 2022 ˾ T H I S D AY

BUSINESSSPECIAL

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

CBN Building

As CBN Simpliﬁes Process for Accessing Forex The introduction of electronic application for foreign exchange is expected to simplify the process of accessing the greenback, writes Dike Onwuamaeze

he recently introduced electronic application for foreign exchange (forex) has been described as a major tool to help ease access to forex for travelers, operators of SMEs, those paying school fees, health bills and others that need the greenback for genuine transactions. With the new policy, Nigerians are now able to apply for forex online, with the deployment of the electronic Form ‘A’ which has expedited applications for PTA/BTA, medicals, education, and other remittances. The new policy was disclosed in a circular titled, “Automation of Form ‘A’ on the Trade Monitoring System,” introduced last month, that was signed by CBN’s Director Trade and Exchange Department, Dr. Ozoemena Nnnaji. According to the central bank, all hard copies of Forms ‘A’ created on or before November 2, 2021 (before the start of the e-Form ‘A’) must be used within 15 working days of the Form’s creation. A Form ‘A’ is an application form designed by the CBN to pay for service transactions (invisible trade). The form allows customers to purchase forex at the CBN or interbank rate to make payments for eligible services as predetermined by the foreign exchange manual. The e-Form ‘A’ replaced the hardcopy since November 30, 2021. According to the central bank, that customers were expected to pay a charge of N5,000 as fee per declaration of e-Form ‘A’. The circular reads: “This is to inform all authorised dealers and the general public of the deployment of e-Form ‘A’. Accordingly, the e-Form ‘A’ shall replace the hard copy of Form ‘A’ for invincible transactions (PTA/BTA, medicals, education, other remittances etc.) with effect from November 30, 2021. “Consequently, all authorised dealers are required to ensure that the processing of Form ’A’ shall only be done electronically on the Trade Monitoring System accessible at www.tradesystem.gov.ng. “The general public is required to obtain a valid Bank Verification Number (BVN) from their authorised dealer banks. The BVN is a prerequisite for customers to access the Trade System for e-Form ‘A’ application. “The e-Form ‘A’ is web-based and allows the general public to initiate the Form from their offices/ homes and submit same to the authorised dealer

bank. “A charge of N5,000 as fee per declaration of e-Form ‘A’ is applicable with effect from November 30, 2021, and henceforth. There will be a direct debit from the processing bank’s current account for each declaration which should be recovered the charge on the customer by the bank. However, customers for the e-Form ‘A’ should be separated from other bank charges. “All hard copies of Forms ‘A’ established on or before November 2 2021 (prior to the commencement of the e-Form ‘A’) shall be utilized within 15 working days of the establishment of the Form. “For the avoidance of doubt, all established hard copies of Forms ‘A’ for which disbursement had not been made within the transition period of 15 working days shall be deemed cancelled. “All authority dealer banks are enjoined to inform their customers of the development for compliance.” Analysts noted that the policy would help ease accessibility of forex and related services to Nigerian bank customers. In recent times, there has been a halt to the rapid depreciation seen in the black market. The CBN Deputy Governor, Corporate Services Directorate, Mr. Edward Adamu, who disclosed this, noted that, “the initial panicdriven depreciation at the parallel market has gradually given way to real market forces.” He added: “Against the backdrop of tight liquidity management and the recent modification of the forex management strategy, the naira exchange rate has remained stable since the last adjustment at the Investors and Exporters (I & E) window. “Apparently, the revised forex management strategy, which excludes Bureau De Change (BDCs) from direct sales, is working as a substantial share of forex demand has migrated to the deposit money banks’ window. We should expect this pattern to continue in the coming months as confidence in the modified framework grows.” CBN Governor, Mr. Godwin Emefiele, had said the apex bank was ready to approve legitimate forex demand that exceeds the approved transaction cap if such applications meet stipulated requirements.

According to him, the CBN was ready to approve requests from commercial banks to go beyond the caps if proven that the extra demand for FX was for legitimate purposes. He had said: “Indeed, I want to put it on record; if the amount you want is even above the limit that is recognised and we find that the reason you are making those demands is legitimate, your bank will speak to us and we will give you more than what is even the limit.” He had also insisted that the Investors and Exporters Window of the central bank remains the major market which anyone seeking to procure or sell foreign exchange should patronise. While urging customers to go to their banks for their forex needs, the CBN Governor had said, “The only exchange rate that I recognise today in the Nigerian foreign exchange market which is the dominant market remains the Investors and Exporters (I&E) window.” Emefiele, recently reiterated the need for extensive structural reform this year to fast-track the country’s economic growth. He stressed that extensive structural reforms were required to ensure that long-run paths of growth surpass potential. The CBN governor noted that as business sentiments brightened, following the various supply-side supports by the apex bank and orderly implementation of macroeconomic policies, he expected domestic fragility to diminish with benign knock-on effects on welfare and livelihood. He said, “Our medium-term goal is to fasttrack growth above historic average. Economic activities may reach pre-pandemic levels if the resilience of non-oil activities (especially agriculture and manufacturing sectors) are given continued impetus.” A member of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC), Prof. Mike Obadan, in a recent article, explained that forex is relevant in the context of world trade, payments and capital flows into and out of a country. This, he pointed out forms a major component of a country’s external reserves which according to the International Monetary Fund (IMF) consists of “official public sector foreign assets that are readily available to, and controlled by the monetary authorities, for direct financing of payments

imbalances, and directly regulating the magnitude of such imbalances, through intervention in the FX markets to affect the currency exchange rate and/ or for other purposes”. Owing to this, the Central Bank of Nigeria Act, 2007, Section 24, mandates the Bank to maintain external reserve assets in gold coin or bullion, balances in banks outside Nigeria, foreign short-term treasury bills and medium-term securities, Special Drawing Rights (SDR) of the IMF, etc. The CBN Act 2007 enjoins the Bank to, “use its best endeavour to maintain external reserves at levels considered by the Bank to be appropriate for the economy and the monetary system of Nigeria.” “In light of this, the CBN has strived to carry out this mandate by using supply and demand management strategies, particularly, forex conservation and control measures as well as measures to ensure adequate supply of foreign exchange. “This is particularly so because forex is a scarce resource that needs to be efficiently managed if the country is to achieve macroeconomic stability, and avoid chronic balance of payments and external reserve problems. “It must be stressed that it is only forex, in the form of convertible currencies or internationally acceptable currencies, and not naira, which can be used for international transactions,” Obadan added. The Professor of Economics and Chairman, Goldmark Education Academy, noted that for some time now, there have been issues about forex in the country, which predates the present administration, stating that over the years, genuine efforts of the federal government to achieve a headway on these have tended to be undermined by exogenous shocks in the past five years which pushed the economy into recession in 2016 and 2020. Therefore, in order to stabilise the forex market and reduce the pressure on the naira exchange rate, there is need to move away from the country’s flawed pattern of economic management of the past. Obadan, also called for a revival and rebuilding of the productive sectors of the economy to achieve higher capacity utilisation and productivity, and competitive manufactured exports; strong government encouragement of local refining of petroleum products for both domestic consumption and exports; as well as strong and effective surveillance of the forex market by the monetary authority to check round-tripping of forex from the deposit money banks to the parallel market.

T H I S D AY ˾ MONDAY, JANUARY 10, 2022

BUSINESS SPECIAL

ANALYSIS

Access Bank: Facilitating Sustainable Future With sustainability at the central core of Access Bank’s operations, the bank has embarked on numerous initiatives targeted at diﬀerent areas of society to contribute it quota to the improvement of the Nigerian economy and aid Africa’s attainment of the Sustainable Development Goals by 2030, writes Ugo Aliogo

ccess Bank’s sustainability strategy has continued to evolve as the financial institution constantly seeks to meet the demands of a dynamic and fast-changing

world. The bank has kept its finger on the pulse of sustainability innovation in Nigeria as well as in other parts of the world where it has presence, as it continues to improve performances in its core business, environmental footprint and the social wellbeing of the communities where it operates. With a strong reputation as a responsible business in Africa, Access Bank aims to become, “the world’s most respected African bank.” Accordingly, the bank has continued to embed economic, sustainability and governance (ESG) policies as core elements of its growth strategy. It says it aims to catalyse opportunities to deliver financing for sustainable development. Approaches such as blended finance and green investment, which offer unique opportunities for investors to gain a foothold in emerging markets in Africa, are actively embraced and promoted by the bank. Indeed, Access Bank’s innovative and optimal risk management strategies are aligned with the bank’s core business strategy. This has enabled it to maintain its lead on the frontiers of sustainability in the financial services industry. Having established itself as Africa’s leader in sustainability, winning the ‘Outstanding Business Sustainability Award’ at the Karlsruhe Sustainable Finance Awards; ‘Most Socially Responsible Company of the Year (Overall Winner)’ at the Sustainability, Enterprise and Responsibility Awards (SERAs), among others, the bank has continued to offer support to SMEs integrating social and environmental considerations into their business operations. In 2021, Access Bank more awards, in recognition of efforts by the Herbert Wigweled management to promote sustainability. For instance, the bank was named the ‘Best Commercial Bank in Nigeria’ at the International Banker Awards 2021. It received the prestigious award on account of its significant strides in becoming Africa’s gateway to the world. The International Banker Awards is a respected industry event that celebrates and recognises top-ranking individuals and organisations setting new benchmarks for performance and pushing the boundaries within the financial industry. Commenting on the recognition, Wigwe had said: “We are grateful for this recognition of our relentless efforts in becoming a world-class financial institution. The significant position we occupy today in the African financial sector has been achieved through a robust long-term approach to client solutions – providing sustainable and innovative services. “As part of our growth strategy, we remain focused on mainstreaming sustainable business practices into our operations. This recognition serves as an encouragement for us to continue to build on our successes and invest even more in sustainable economic growth that is profitable, environmentally responsible, and socially relevant,” he concluded. Wigwe was also recognised as Africa’s Best Banking CEO of the year. He was

Wigwe

awarded for his visionary, innovative and transformational leadership in spearheading the market expansion of Sub-Saharan Africa’s largest bank despite the negative impact of the COVID-19 pandemic. Under Wigwe’s stewardship, Access Bank launched the Nigerian Green Bond Market Development Programme. The initiative, organised in partnership with FMDQ OTC Securities Exchange, Financial Sector Deepening (FSD) Africa, Climate Bonds Initiative (CBI) and the Securities and Exchange Commission (SEC), was set up to develop a non-sovereign green bond market that will entrench the principles of sustainability into the Nigerian capital markets. Access Bank had also invested over N10.25 billion in various corporate social responsibility efforts, impacting over 194 communities and 43 NGOs. These projects focused on our CSR priority areas which are Health, Education, Sport, Arts, Environment, Women Empowerment and Social Welfare. Some other awards won by the bank

“We, at Access Bank, are dedicated to setting the bar for responsible business practices, demonstrating corporate brand commitment to tackling social, economic, and environmental challenges as part of our relentless endeavor to offer more than banking.”

included, the ‘Best Bank (Nigeria) and Sustainable Bank of the Year (Africa)’ at the International Investors Awards. According to the awarding body, the recognition was a testament to Access Bank’s innovative and pioneering activities in predetermined areas, as stipulated by the independent jury including Thomson Reuters. It noted that the bank had successfully consolidated its position as ‘Africa’s Gateway to the World’, expanding its operations rapidly into the Cameroonian, Kenyan, South Africa and other markets. Furthermore, it noted that the bank had pioneered many innovative sustainability initiatives, becoming a founding member of the Private Sector Coalition Against COVID-19 (CACOVID), the creation of a digital, toll-free platform to address gender violence - in partnership with HACEY Health Initiative, among many others. “Access Bank continues to innovate as it seeks to realize its vision of becoming the world’s most respected African Bank. The importance of offering best-in-class services, while keeping an eye on the future, with the implementation of sustainable business practices is given utmost recognition within the bank,” the organisers also noted. Also, last year, Access Bank was also honoured with the ‘Best Bank Nigeria’, ‘Best Private Bank Nigeria’, and PanAfrican ‘Sustainability Award’ during the 2021 EMEA Finance African Banking Awards. According organisers of the award, the bank stands tall as the first Sustainability Certified African Commercial Bank,

achieving the highest level of sustainability certification under the Sustainability Standards and Certification Initiative (SSCI) program. This, it noted, was a further affirmation of its leadership in sustainability, demonstrating its strong commitment to influencing positive market transformation. Access Bank was recognised at the inaugural 2021 Sustainable Finance Awards by Global Finance. The bank emerged the winner in two of the award categories: Outstanding Leadership in Sustainability Transparency, Africa; and Outstanding Leadership in Green Loans, Africa. In addition, the bank clinched five awards at the 2021 Global Brand Magazine Awards. A breakdown of this showed that the bank emerged the winner across five categories, namely – Best Mobile Banking App, Africa; Best Agro Banking Brand, Nigeria; Best Digital Banking Brand, Nigeria; Best CSR Bank, Nigeria and Best Bank for Investor Relations, Nigeria. Access Bank Plc was also honoured with the ‘Best Bank Nigeria’, ‘Best Private Bank Nigeria’, and ‘Pan-African Sustainability Award’ during the 2021 EMEA Finance African Banking Awards. Similarly, the Global Finance recognised Access Bank as the first African bank to qualify for the 2X Challenge, an initiative founded by the G7 Development Finance Institutions, because of the bank’s continued commitment to mobilising investments that advance women’s economic empowerment. Among other awards, the Group Head, Corporate Communications, Access Bank, Amaechi Okobi, was last year, also recognised with the “COVID-19 Response Banker of the Year Award” at the recent 56th annual bankers’ dinner organised by the Chartered Institute of Bankers’ of Nigeria. The award category recognised and celebrated players in the industry who innovatively went beyond the call of duty to ensure business continuity and drive the protection of lives, property and business interests during the global pandemic. Receiving the award, Okobi had said, “Indeed, COVID-19 disrupted our lives and our business procedures. Before the pandemic, I, and many others in this room, could meet with teammates, visit favourite relaxation spots and move around freely. COVID-19 altered all of that. Being someone who takes relationships seriously, I was determined to do my part in restoring a form of normalcy to society while protecting lives and business interests.” “However, all my bright ideas would not have come to life without the amazing team at Access Bank and extensively, CACOVID, who worked tirelessly to ensure we impacted lives through a truly testing time.” Commenting further on the awards, Wigwe, said, “We, at Access Bank, are dedicated to setting the bar for responsible business practices, demonstrating corporate brand commitment to tackling social, economic, and environmental challenges as part of our relentless endeavor to offer more than banking. This, combined with our vision of becoming the world’s most respected African Bank, has led us to take the lead in promoting sustainable banking practices, financial inclusion, and the diversification of our local economies through altruistic CSR initiatives that have impacted the lives of many people, “Today, we are one step closer to that vision, and we are honoured to have received these awards as we continue to work towards offering value to all our stakeholders.” Access Bank has over the past decade consistently delivered on its goal to set the pace in sustainable banking practices in Africa. The bank has also continued to deliver value to its burgeoning customer base and provide innovative solutions for the markets and the communities where it operates.

MONDAY, JANUARY 10, 2022 ˾ T H I S D AY

BUSINESS SPECIAL

ANALYSIS

Zenith Bank Remains Investors’ Toast With total market capitalisation at N789.622 billion as at December 31, 2021, Zenith Bank has reinforced its position as the industry leader, writes Hamid Ayodeji

enith Bank Plc and 14 other highly capitalised stocks on the Nigerian Exchange Limited (NGX) contributed 90.2 per cent or N20.10 trillion to overall N22.3 trillion market capitalisation in 2021. Zenith Bank’s total market capitalisation stood at N789.622 billion as at December 31, 2021, as it led the banking sector on the NGX. The bank’s share price gained one per cent to close 2021 at N25.15 in 2021. The bank has clearly distinguished itself in the banking industry through superior service quality, unique customer experience, and sound financial indices. As a testament to its resilience and market leadership, Zenith Bank in its unaudited results for the nine months period ended September 30, 2021, posted a profit before tax (PBT) of N180 billion. This represented a one per cent growth over the N177 billion recorded in the same period the previous year, amidst a challenging macroeconomic environment exacerbated by the Coronavirus (COVID-19) pandemic. According to the group’s unaudited nine months financial results, its gross earnings increased by two per cent from N509 billion to N519 billion, largely due to growth in current account maintenance fees as well as fees from electronic products during the period. Despite continuing economic uncertainties, the Group, according to a statement, grew its net earnings through reduction in its cost of funds while keeping the cost of risk flat. This strengthened its earnings per share (EPS) by one per cent to N5.11. The Group achieved a nine per cent growth in interest income from loans and advances on the back of an increase in gross loans of nine per cent year-to-date and enhanced efficiency, resulting in a 21 per cent drop in interest expense to N74 billion from N94 billion. This culminated in growth in net interest income of four per cent, from the N225 billion recorded at the end of the third quarter of 2020, to N235 billion in the current period. Also, its total assets increased by three per cent to N8.8 trillion in the current period, while total deposits grew by 13 per cent to close at N6 trillion, from N5.3 trillion as at December 31, 2020, with a substantial contribution from retail deposits. As a result of the bank’s focused drive to increase retail deposits in the past three years, there was a decrease in the Group’s cost of funds by 35 per cent to 1.4 per cent, from 2.2 per cent year-on-year. The Group continued to make significant progress in its retail banking drive, as evidenced by remarkable growth in transaction volumes and value across its digital platforms and strong growth in customer acquisition. According to the statement, in the year’s final quarter of 2021, its management’s outlook remained positive, buoyed by a declining inflationary trend, expected increase in foreign exchange inflows, and improving oil production. “The Group remains focused on increasing its retail market share, consolidating its leadership position in the corporate segment and maintaining a robust balance sheet,” it stated. In recognition of its track record of excellent performance, Zenith Bank was voted as Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021, Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, Best Bank in Nigeria in the Global Finance World’s

Onyeagwu

Best Banks Awards 2020 and 2021, and Best in Corporate Governance ‘Financial Services’ Africa 2020 and 2021 by the Ethical Boardroom. Also, the Group Managing Director/ Chief Executive Officer (CEO) of Zenith Bank, Mr. Ebenezer Onyeagwu, emerged ‘CEO of the Year’ for a second consecutive year at the Sustainability, Enterprise and Responsibility (SERAS) CSR Africa Awards held in 2021. According to the judges, Onyeagwu was selected for a number of reasons, including engendering a culture that promotes the continued investment in social initiatives in support of the United Nations Sustainable Development Goals (SDGs). Under his leadership, the Zenith Bank’s social investments totalled N3.285 billion in 2020, representing nearly two per cent of the bank’s profit after tax. The judges found Onyeagwu worthy for his commitment to promoting sustainability and responsible business practices in Nigeria, through his frontal leadership of sustainability in Zenith Bank, thereby enabling best industry practices in the banking sector. They also chose him for his passion for reducing carbon

“We are also up scaling our investment in terms of what we have, to contend with the ever-increasing risks we see in the environment. That in a nutshell explains the rise in our digital banking initiative.”

emissions in the bank’s operations. Zenith Bank also emerged winner in four other categories at the SERAS CSR Africa Awards, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa”. The bank was adjudged the “Most Responsible Organisation in Africa,” winning the overall best sustainability award, for its continued commitment to the tenets of Sustainability and Corporate Social Responsibility within its immediate community and in the society at large. In addition, the bank emerged as winner in the category for Reporting and Transparency for its consistency in disclosing and communicating its sustainability journey and progress annually vis-a-vis environmental, social, and governance (ESG) goals, in line with the guidelines and protocols set by the Global Reporting Initiative (GRI), Nigeria Sustainable Banking Principles (NSBP), Nigerian Exchange (NGX), United Nations Global Compact (UNGC), and United Nations Environment Programme Finance Initiative (UNEP FI). The bank also ensures the assurance of its sustainability report by reputable independent third parties. In 2021, the bank’s 2020 sustainability report was assured by PricewaterhouseCoopers (PwC) and disseminated through the Bank’s website for the public and sent to all relevant stakeholders, including the United Nations Global Compact (UNGC). In the infrastructure development category, the bank was voted winner for its nation-building initiatives and

investments, including supporting efforts towards establishing basic services and functional security, governance, and economic and infrastructure systems, especially in Nigeria. As a testament to this and in demonstration of its commitment to the development (often referred to as reform, restructuring and rebuilding) of the Nigeria Police Force for the preservation of law and order, protection of life and property, and law enforcement in Nigeria, the bank supported the Lagos State Security Trust Fund with N500, 000,000 for the provision of security-enhancing facilities and infrastructure. This was in addition to contributions to other state security trust funds. Clearly, for over three decades, Zenith Bank has distinguished itself in the Nigerian financial services industry through superior service offerings, unique customer experience, and sound economic indices. The bank remains a clear leader in the digital space with several firsts in deploying innovative products, solutions, and an assortment of alternative channels that ensure convenience, speed, and safety of transactions. Also, in the area of corporate governance which is a vital ingredient in ensuring the sustainability of any institution, Zenith Bank under Onyeagwu has maintained a positive rating as can be seen from the recent assessment by the NGX hence the financial institution’s listing on the Premium Board of the Exchange. The bank places a premium on its core business strategy anchored on people, technology and service, to create value for its numerous clientele. With a team of dedicated professionals, the bank leverages its robust Information and Communication Technology (ICT) infrastructure to provide cutting-edge solutions and products through its network of branches and electronic/digital channels. As a testament to the aforementioned and in recognition of its track record of excellent performance, Zenith Bank had been ranked the number one bank in Nigeria by tier-1 capital in the 2021 Top 1000 World Banks’ Ranking published by The Banker Magazine, a publication of the Financial Times Group of the United Kingdom. The chief executive officer has continued to assure investors and stakeholders that the commercial bank will continue to accelerate its retail and digital banking initiatives in order to sustain its positive performance. “We are also up scaling our investment in terms of what we have, to contend with the ever-increasing risks we see in the environment. That in a nutshell explains the rise in our digital banking initiative,” he added. Since it commenced business in May 1990, Zenith Bank Plc has built a respectable brand that is recognised globally. The bank is a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-of-the-art technologies in banking. Driven by a culture of excellence and strict adherence to global best practices, Zenith Bank continues to combine vision, skillful banking expertise, and cuttingedge technology to create products and services that anticipate and meet customers’ expectations; enable businesses to thrive and grow wealth for customers.

MONDAY JANUARY 10, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY JANUARY 10, 2022

CITYSTRINGS

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

Kwara's Landmark in Breaking Barriers of Gender Parity in Governance Hammed Shittu reports that Kwara State reached a landmark with the Political Offices Bill 2021, which was passed into law as arguably the first legislation of its kind in the country that places a ceiling below which the government cannot go in appointment of women gender for public offices. Recently, in the ancient town of Ilorin, an event which was tagged "Cracking the Glass Ceiling: the story of Kwara Women", was held to commemorate the new record in gender inclusion in Nigeria

he ancient town of Ilorin, in the North Central Zone of the country recently went agog when the women from all the strata of the society converged on Ilorin city to be part of the historic award of recognition to some of the deserved women and to witness the assent to the bill on women parity passed by the state lawmakers that removed the ceiling on their full participation in the art of governance so as to add more value to the growth of the nation. The event which was organised by the present administration of Governor AbdulRahman AbdulRazaq, was meant to exhort women of timber and caliber on the role they play in the socio well being and development of the state. The development is not far fetched as the role of the feminine gender in the socio economic growth of the nation cannot be isolated in the day to day running of affairs of government. Thus, organising such event would serve as impetus to them to be more committed to the political and economic growth of the nation. The event which was tagged "Cracking the Glass Ceiling: the story of Kwara Women was also meant to set a new record in women gender inclusion for Nigeria. The law, cited as Political Offices (Gender Composition) Bill 2021, is arguably the first legislation of its kind in the country that places a ceiling below which the government cannot go in appointment of women gender for public offices. The event was attended by creme de la creme from Kwara and beyond. They include representative of the wife of the President, Dr. Rukayat Gurin; Kwara First Lady, Ambassador Olufolake AbdulRazaq; Women Affairs Minister Dame Pauline Tallen; Ekiti First Lady Mrs. Bisi Fayemi and several governors' wives. Others include, the first lady of Ogun State Mrs. Bamidele Abiodun, the First Lady of Lagos State Dr. Ibijoke Sanwo-Olu, the first lady of Taraba State, Barrister Anna Ishaku; the first lady of Osun State, Mrs. Kafayat Oyetola and the first lady of Oyo State Engr. Tamunominini Makinde. Also present were Senators from the three senatorial districts of Kwara and House of Representatives members from the state; the Ilorin born business tycoon, Mrs. Bola Shagaya; former acting Governor of CBN, Sarah Alade; National Missioner Ansar-u-deen Muslim Society of Nigeria, Dr. AbdulRahman Ahmad; Founder/ CEO Sokoa Chair Centre and keynote speaker, Mrs. Ibukun Awosika. Kwara Speaker, Yakubu Danladi-Salihu led members of the House to the event, which was also attended by cabinet members. The State Traditional Council Chairman and the Emir of Ilorin Dr. Ibrahim Zulu-Gambari led a legion of first class emirs and Obas to the event that also attracted global audience such as the United Nations Women Representative to Nigeria/ECOWAS Comfort Lamptey; ambassadors; and others. The event also saw the conferment of outstanding awards of excellence on Kwara women who have achieved huge feats in their respective fields: former Chief Judg, Raliat Elelu-Habeeb; Mrs Sarah Jubril; financial guru and former Lagos Finance Commissioner, Mrs Foluke Abdulrazaq; Mrs Sarah Alade; business woman Bola Shagaya; Senator Khairat Gwadabe; first female HOS in Kwara Zarah Omar; former Deputy Vice Chancellor of University of Ilorin Prof Sidikat Ijaya; media veteran Hajia Eyitayo Mairo Mustapha; and the Onila/Agindigbi women who built schools; among many others. Speaking in Ilorin at the state governmentinspired conference themed 'Cracking the glass ceiling: the story of Kwara women', the governor said it was only fair that women be given a fair space in the decision making process whose outcomes have far-reaching consequences for

First Lady of Kwara State, Dr. Olufolake AbdulRazaq and the state governor, Alhaji AbdulRahman AbdulRazaq, at the event in Ilorin recently them and their families. The governor said the recognition and the step to mainstream women in public service was the least the administration could do for the hardworking women as a way of inspiring the girl child. “Women are so critical to human civilisation. They are just as brilliant, innovative, and smart as men. They are the largest voting demographic in Nigeria. Yet, they are often absent or unfairly represented when policies and programmes that shape everything concerning them and their families are designed,” he asserted. "This needs a rethink. In Kwara, we have recently taken unprecedented steps to involve more women in the decision making process. We appointed 56.25 female cabinet members and about 50 per cent female permanent secretaries. Many key government positions are headed by women. We do not have regrets making such decisions. “Nevertheless, the gains we have made in Kwara in mainstreaming gender parity in appointments could easily be reversed by anyone. We have therefore decided to give a legal cover for gender parity in Kwara State, no matter what party is in power. I have therefore assented to the Kwara State Political Offices (Gender Composition) Bill 2021. "A unique feature of this legislation is that no gender class shall henceforth have below 35 per cent representation in the State Executive Council. This opens a new chapter for inclusive political system in Kwara State and Nigeria as a whole. It is our bold contribution to the Nigerian political culture. “We feel strongly that no segment of the society should be absent or underrepresented in the decision making process. This law could well encourage our major parties

to officially mainstream gender parity in their activities.” He recalled that many heroic efforts of women have contributed to the growth of the state, saying the conference was organised to single them out for special commendations. “This is a moment to specially appreciate all of you Kwara women for the great things that you stand for,” Abdulrazaq said. “From farm to market place, community work, national service, and their sweats that go into building our homes, the Kwara woman is simply great. "Early this year, I read the inspiring story of some women in Onila and Agindigbi communities who pulled resources together to build schools. No commitment to community growth can be greater. I visited these women in appreciation of this sacrifice. We have also reimbursed their expenses, and completed the schools. The Onila/Agindigbi phenomenon reflects the character of the Kwara woman.” Nigeria's First Lady who was represented by the Senior Special Assistant on Administration and Women Affairs, Dr. Rukayat Gurin, called on all states in Nigeria to emulate AbdulRazaq in promoting the welfare of women for overall development of Nigeria. "You are a true partner to women and you are doing well for advancing the course of women. We are all testimonies to the historic story of Kwara women under you," she said. She commended Governor AbdulRazaq for giving opportunities to women to thrive. Kwara's First Lady, Olufolake AbdulRazaq, on her part, explained that the event is to inspire the average Kwara woman to leverage the women-friendly initiatives of the state government to chart progressive course for themselves and be active par-

Nevertheless, the gains we have made in Kwara in mainstreaming gender parity in appointments could easily be reversed by anyone. We have therefore decided to give a legal cover for gender parity in Kwara State, no matter what party is in power. I have therefore assented to the Kwara State Political Offices (Gender Composition) Bill 2021

ticipants in the processes of governance for the development of their immediate communities and the nation. "While today’s event is essentially to bring to the fore the impact women can make when given a fair competitive chance in all spheres of endeavor, this convergence also provides the opportunity to celebrate women, especially Kwara women, who have carved a niche for themselves in their respective callings while giving assurances through the gender inclusive disposition of the Administration of the Governor of Kwara State His Excellency Abdulrazaq that there is no limit to the dream and aspirations of every woman and girl, irrespective of their religion or socio cultural leanings." This event also stands to commemorate the United Nations 16 days of activism against gender-based violence which started on the 25th of November," she added. Dame Paulen said the formation of AbdulRazaq's women-dominated cabinet is remarkably unique, adding the event further underlined the governor's efforts at improving the lot of women in national development. She lauded the governor's wife for supporting her husband to cause a meaningful change in the history of the state. She added: "It is most gratifying to join this event organised to celebrate the socio-cultural, economic and political contributions of women in Kwara State. It is on record that Kwara started cracking the glass ceiling in 2019 with the landmark appointments, where he appointed nine women out of 16 commissioners into the state Executive Council." In her keynote address, Founder/CEO Sokoa Chair Centre, Mrs. Ibukun Awosika congratulated the governor for being exceptional and a pacesetter in allowing the girl child to be major part of the political and economic aspect of the state. "Kwara State is a good example of states that understand the value inherent in women. Kwara has shown that it has women who have gone through many fields and every corner of this state and Nigeria," she said. "Nothing is wrong with you being a girl or woman. We need to appreciate and use every resource that we have to our advantage. We must educate every girl and empower women. I NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ MONDAY JANUARY 10, 2022

CRIME&SECURITY

How NNS BEECROFT Operatives Arrested Foreigners who Smuggled Rice, Oil, Cannabis

Rear Admiral Bashir Mohammed addressing the press

The recovered cannabis Chiemelie Ezeobi

ver the course of the yuletide, the operatives of the Nigeria Navy Ship (NNS) #&&$30'5 BSSFTUFE oil bunkerers, rice smugglers as well as drug traffickers, all foreigners and recovered tonnes of stolen PMS, 431 bags of rice, and 261 large sacks of cannabis, respectively. The Commander, Nigerian /BWZ 4IJQ //4 #&&$30'5 Rear Admiral Bashir Mohammed, who addressed the press, said the recovered 261 bags of cannabis worth over N100 million in the local market was intercepted during the Yuletide. He said: "On behalf of the Flag Suspected oil bunkerers Officer Commanding Western Naval Command, I welcome you all to this press briefing "It is worthy to note that which is to acquaint you with the suspected cannabis seized some of the activities of NNS is worth over N100Million #&&$30'5 BOE JOEFFE UIF TIJQT in the local market. of the Western Fleet over the past "Similarly, on December 21, couple of weeks. 2021, NNS OSUN intercepted "Regardless of the festive season, and arrested a large Cotonou the navy did not relent in executboat laden with 413 bags of foreign parboiled rice ing the mandate of the Chief of smuggled into Nigeria from /BWBM 4UBGG $/4 7JDF "ENJSBM neighbouring countries. Awwal Gambo, which is geared " Pertinently, five crew towards curbing illegalities thereby were arrested onboard the boosting national prosperity. large boat and investigation "To this end, we enjoyed a revealed that they were all relatively peaceful yuletide season. foreigners. However, in the course of our "It is equally worthy of patrols, the navy intercepted and note that the smuggled rice arrested some drug traffickers, is worth over N13million in smugglers of contraband items the local market and this is and petroleum products within to the detriment of Nigeria’s the maritime environment. local content drive. "On December 17, 2021, NNS "NNS KANO arrested a ABA arrested a large fibre boat large Cotonou boat with conveying items suspected to six crew laden with 125 x be Cannabis bagged inside 261 250 litres of drums with large sacks.

unspecified amount of PMS. "The suspects, who are all foreigners, are part of a syndicate who come to purchase stolen petroleum products to freight them to neighbouring countries for sale, to the detriment of the Nigerian economy. "You may equally recall UIBU //4 #&&$30'5 BSSFTUFE .7 $IBZBSFF /BSFF and Karteria for trafficking of 32.9 and 13.65kg of cocaine on October 9 and 28, 2021, respectively. "The cocaine seized on both occasions were worth over N10billion in the local market. "These series of arrests reinforce the Nigerian Navy’s resolve of zero-tolerance to illegalities within the maritime domain in line with her constitutional mandate."

CRIME SITUATION REPORTS

CRIMINALITY: TACTICS AND PREVENTION (4) Gbolahan Samuel Moronfolu Crime Prevention and Public Policy Crime prevention has come to mean many different things to many different people. Programs and policies designed to prevent crime can include the police making an arrest as part of an operation to deal with gang problems, a court sanction to a secure correctional facility, or, in the extreme, a death penalty sentence. These measures are more correctly referred to as crime control or repression. More often, though, crime prevention refers to efforts to prevent crime or criminal offending in the first instance — before the act has been committed. Both forms of crime prevention share a common goal of trying to prevent the occurrence of a future criminal act, but what further distinguishes crime prevention from crime control is that prevention takes place outside of the confines of the formal justice system. In this respect, prevention is considered the fourth pillar of crime reduction, alongside the institutions of police, courts, and corrections (Waller 2006). This distinction draws attention to crime prevention as an alternative approach to these more traditional responses to crime. There are many possible ways of classifying crime prevention programs. An influential scheme distinguishes four major strategies (Tonry and Farrington 1995b). Developmental prevention refers to interventions designed to prevent the development of criminal potential in individuals, especially those targeting risk and protective factors discovered in studies of human development (Tremblay and Craig 1995; Farrington and Welsh 2007). Community prevention refers to interventions designed to change the social conditions and institutions (e.g., families, peers, social norms, clubs, and organizations) that influence offending in residential communities (Hope 1995). Situational prevention refers to interventions designed to prevent the occurrence of crimes by reducing opportunities and increasing the risk and difficulty of offending (Clarke 1995b; Cornish and Clarke 2003). Criminal justice prevention refers to traditional deterrent, incapacitative, and rehabilitative strategies operated by law enforcement and agencies of the criminal justice system (Blumstein, Cohen, and Nagin 197; MacKenzie 2006). Crime prevention is best viewed as an alternative approach to reducing crime, operating outside of the formal justice system. Developmental, community, and situational strategies define its scope. Developmental prevention has emerged as an important strategy to improve children’s life chances and prevent them from embarking on a life of crime. The theoretical support for this approach is considerable and there is growing evidence based on the effectiveness of a range of intervention modalities. Community crime prevention benefits from a sound theoretical base. It seemingly holds much promise for preventing crime, but less is known about its effectiveness. Advancing knowledge on this front is a top priority. Nevertheless, there are a wide range of effective models in community-based substanceuse prevention and school-based crime prevention. The theoretical origins of situational crime prevention are wide ranging and robust. The strategy boasts a growing evidence base of effective programs and many more that are promising. There is also

evidence that crime displacement is a rare occurrence. Crime prevention is an important component of an overall strategy to reduce crime and is widely supported by the public over place and time. A special focus on implementation science and higher quality evaluation designs will further advance crime-prevention knowledge and practice. Striking a greater balance between crime prevention and crime control will go a long way toward building a safer, more sustainable society. Crime Prevention Tips These personal safety awareness tips are for various situations. Pickpocketing According to the current Police reports of 2021, pickpocketing incidents increase during the months of August, September and October, obviously during the start of the school year. In the majority of the reported incidents, the victim had their wallet removed from their backpack front compartment, a common location where students put their wallets. Carry your bag in front of you. Gentlemen, carry your wallet in your front pocket. Common locations where thieves target victims: r "U CVT TUPQT m 5IJFG POF XBMLT in front of you pretending to board a vehicle while the second thief is behind you, bumps into you removing your property (cell phone, wallet, etc) r *O B DSPXEFE CVT PS USBJO m removing your wallet from your backpack front compartment. Pickpockets thieves look like you and usually work in a team of two or three. Four Ways to Increase Your Personal Safety 1. Reduce or eliminate opportunities that may make you a target. 2. Increase awareness in places where you're most comfortable. 3. Trust your instincts even if you feel embarrassed. 4. Prepare your schedule daily with safety in mind. r #F "8"3& PG ZPVS TVSSPVOEings at all times and trust your INSTINCTS. r 4UBZ JO XFMM MJU QPQVMBUFE pathways. Avoid shortcuts. r 5SBWFM JO HSPVQT 5IFSFhT always safety in numbers. r 8BML XJUI ZPVS IFBE VQSJHIU Make eye contact. Thieves often target victims who are not paying attention to their surroundings or who are looking down. r 1BZ BUUFOUJPO UP ZPVS TVSroundings when using electronics on the streets, and buses. Don't 56/& ZPVSTFMG PVU %0/h5 8"-, "/% 5&95 r %POhU EJTQMBZ FMFDUSPOJDT when not in use.. r $IBOHF UIF DPMPS PG ZPVS earphones from "White" to any other color. White earphones usually indicate that you have BO "11-& %&7*$& XIJDI JT BO attractive target for thieves. r "WPJE USBWFMJOH UISPVHI QBSLT after dark. r #FGPSF FOUFSJOH ZPVS BQBSUment building, have your keys ready. Don't hold doors for anyone whom you don't know. r *G ZPV PCTFSWF BOZPOF BDUJOH in a suspicious manner, or if you feel threatened in any way, call the police immediately by dialing 08033011052, 08056250710, or 08033183477 -Moronfolu is a seasoned security consultant with many years of security and policing experience. FELLOW, Fourth Estate Professional Society (FFPS), he has also partaken in peace keeping operations within and outside the country and has flair for general security education.

T H I S D AY ˾ ˜ JANUARY 10, 2022

BUSINESS/MONEYGUIDE

FCMB Partners Ogun State on Provision of Affordable Loans for Home Ownership Residents of Ogun State who desire to own homes now have an opportunity to do so, courtesy of FCMB Group Plc. This is because the leading financial powerhouse has partnered with the Ogun State Government to provide affordable mortgage loans to subscribers of low-cost schemes. First City Monument Bank (FCMB), the retail and commercial banking subsidiary of the Group, will disburse the loans. This was disclosed during a working visit by the Management of FCMB Group, led by Mr Ladi Balogun, the Group Chief Executive, to the Governor of Ogun State, Dr Dapo Abiodun, in Abeokuta. Speaking during the visit, Mr Balogun reiterated the commitment of FCMB Group and its subsidiaries to supporting initiatives that would ensure sustainable development and welfare of people, businesses and government. According to him: “We are

ready to support the state government’s development agenda to ensure improved quality of life for the people by helping them to own homes. FCMB will always be there to fulfil its promise of helping customers achieve their aspirations.” While appreciating the State’s infrastructure developmental strides, Mr Balogun assured that FCMB would collaborate with Ogun State to improve the quality of life of her people and businesses. Responding, Governor Abiodun called for a more robust relationship between the State and the FCMB Group. He affirmed his administration’s commitment to elevating the quality of life of the good people of Ogun State. He stated that: “In the last 30 months, we built over 1,000 homes with more required to help the State fulfil its housing goals. People are buying them faster than we are building

them. They are either paid in full or paid in part, and those are areas that you could work with us. Ogun State Government is for progressive public-private partnership in the areas of financing, management and concession.” The Governor equally encouraged FCMB to adopt a Primary Health Centre for rehabilitation and provision of equipment as well as a school through the adopt-a-school programme put in place by his administration. FCMB Group Plc is Nigeria’s leading and most diversified financial holding company with subsidiaries that are market leaders in their respective segments. The institution has built a strong base in various sectors of the nation’s economy by consistently offering cutting-edge solutions to its customers across segments. FCMB expects to continue to distinguish itself through innovation and the delivery of exceptional services.

MARKET INDICATORS

Jaiz Bank Grows Balance Sheet to N278bn James Emejo ÓØ ÌßÔË A decade into pioneering non-interest banking operations in the country, Jaiz Bank Plc, said it has recorded modest improvement in its balance sheet size from N12 billion in 2012 to N278 billion in 2020, consisting total assets and contingents. The bank also grew all other key performance indices exponentially over the years. The Managing Director/Chief Executive, Jaiz Bank, Mr. Hassan Usman while thanking Allaah, likened the journey to a roller coaster, marked by ups and downs. But he said after the take-off, “momentum is gradually gathered and stopping the coaster becomes not an option, the wisest thing to do is making every jerk and movement worthwhile and impactful”. He said, “The journey was much like a roller coaster – you experience some degree of fear at the onset, but subsequently excitement takes over when the carriage takes off and you feel that euphoria of defying the odds of gravity.” Usman added that despite paying the huge costs associated with pioneering Islamic banking practice, the bank was able to

break even within the first three years of operation, which was unprecedented at the time. He said through its unique value proposition, the financial institution within a decade, made remarkable impact in empowering women, driving financial inclusion and supporting various strata of businesses in the real sector of the economy, including agriculture, real estate, construction, oil and gas, general commerce among others. He said within review period, the bank was rated by the Islamic International Rating Agency (IIRA), assigning it an investment grade rating of BBB. He added that the bank recently got an upgrade from both Agusto and GCR to BBB and BBB- respectively with stable outlook as well as a positive rating by Fitch. The bank also gained international recognition by winning the Most Improved Islamic Bank award for 2020 and 2021 consecutively from the Global Islamic Finance Awards (GIFA), among other accolades. The Jaiz Bank boss pointed out that within a decade of opeeations, “We lived every moment, learning from each mistake, supporting our customers through thick and thin while pressing on - despite the absence of essential non-interest

banking enablers - to pioneer a nascent sub-sector that is now bourgeoning with players and accolades.” He said: “Today, our Bank officially clocks ten years since it first opened its doors to customers on the 6th of January 2012. We are happy to pioneer an industry that was not there; creating confidence for other people to come in; and we believe that we’ve done that very well. “The year 2022 is special to us as it marks a decade of progress in our Islamic banking journey and I am extremely fulfilled for the opportunity of leading the team for a larger part of the journey. From a very humble beginning in 2012, the Bank has successfully developed a remarkable brand that is iconic both locally and internationally.” Usman, stressed that the bank remained true to its vision of building the second largest non-interest bank in Sub-Saharan Africa in just 10 years. He said the bank was further committed to leveraging on its market acceptance to continue to innovate in order to consistently deliver superior customer experience in the dynamic business environment, hence maintaining its clear leadership in the noninterest banking space.

Nigerian Breweries, Heineken Africa Foundation Donates N48m Equipment to UBTH Gilbert Ekugbe Nigerian Breweries Plc under the aegis of Heineken Africa Foundation (HAF) has donated equipment worth over N48 million to the neo-natal unit of University of Benin Teaching Hospital (UBTH). Speaking at the handing over ceremony of the equipment to the hospital, the Corporate Affairs Director, Nigerian Breweries Plc, Mrs. Sade Morgan, represented by the Corporate Affairs Manager, West, Danjuma John-Ekele, stated that the investment in health care forms part of the company’s contribution towards reducing infant mortality, thus complementing the efforts of the Federal Government. She further stated that the

provision of incubators and other facilities would serve to complement the efforts of the Federal Government in addressing one out of the myriad of challenges faced by the health sector. In his remarks, the Provost, UBTH, Prof. Darlington Obaseki, commended HAF and NB Plc for the donations, noting that the partnership would undoubtedly contribute to the nationwide target of reducing infant mortality rate in the South-South region by 90 per cent. “The idea of having a Foundation that looks into healthcare is something that needs to be emulated by other organizations. It is not just about profit-making but about

supporting communities where they operate. We commend HAF because we know that many lives will be saved with this equipment”, he stated. Some of the projects funded by the Heineken Africa Foundation in Nigeria include the Jaundice in Babies Awareness Campaign, the donation of a female orthopedic ward in Kaduna in 2010, the gift of a CT scan (2013), and an ultrasound scanning machine (2015) at the St. Gerald’s Hospital. Recently, the Foundation invested 622, 000 euros in partnership with WaterAid Nigeria to install over 1,000 handwashing stations in healthcare facilities and other public places as its contribution to the nationwide effort against COVID-19.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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), Basra Light (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 ˾ ˜ ͯͮ˜ ͰͮͰͰ

SEC to Launch Revised 10-year Master Plan as NGX ASI Close Higher

Kayode Tokede

The Securities and Exchange Commission (SEC) is to organize a capital market conference to launch a revised version of the 10year Capital Market Masterplan in 2022 to reflect the dynamism of the market and developments in FinTech among others. Director General of the SEC, Mr. Lamido Yuguda stated this in Abuja Weekend in a New Year Message.

The SEC DG stated that as the Year 2022 commences, the Commission is confident that the results of the various initiatives implemented will begin to gradually manifest, spurring developments in many aspects of the market. He expressed the hope that as the restrictions of Covid-19 and its variants are eased up, the Market will witness renewed confidence expected to introduce fresh investments from domestic

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and foreign investors. According to Yuguda, “As we expect improvements in both economic and capital market activities, we must remain committed to developing the market in line with the 10-year Master Plan. Some of the key initiatives to be pursued in 2022 are as follows: The repeal of the Investment and Securities Act (ISA) 2007 and passing of the Investment and Securities Bill 2021 to align the enabling law

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with the realities and trends in capital market regulation and practice in Nigeria.” Meanwhile, the Nigerian equities market closed on a positive note at the close of trading last Friday on the back of the gains recorded in major sectors. At the close of business for the day, the Nigeria Exchange Limited (NGX) All Share Index (ASI) went up by 0.57 per cent to settle at 43,854.42pts. Similarly, the NGX-ASI gained 2.66 per

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cent Week-to-Date (WTD). In Friday’s trade, market breadth index was broadly positive with 31 gainers against 9 losers. The performance was positive as the gains recorded in CORNERST (+10.00%), MEYER (+10.00%), ARDOVA (+9.92%), BUAFOODS (+9.92%) and PZ (+9.84%) offset the losses printed in CHIPLC (-9.59%), SOVRENINS (-7.14%), UPDC (-3.28%), JBERGER (-2.46%) and

O F

REGALINS (-2.08%). In the same vein, sector performances were broadly positive at the close of trade with the Oil and Gas (+0.98%), Banking (+0.44%), Industrial (+0.26%) and Consumer Goods (+0.19%) sectors closing positively. In terms of activity levels, total volume and value increased by 126 per cent and 481 per cent respectively, as investors exchanged about 395 million units of shares worth N12.40 billion.

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MONDAY, JANUARY 10, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Prot esters D enounce Mali Military’s Five-Year Transition Mali’s military government proposed a 5-year extension of the transition to civilian rule in December, after originally agreeing to a period of 18 months. Protesters gathered Saturday in Bamako to call for a return to democracy, ahead of an ECOWAS meeting about Mali Sunday in Accra. This is the first public demonstration since the government’s announcement of a 5-year plan, a contrast to the many pro-military demonstrations that have been held this year. About 100 protesters gathered Sunday afternoon at Bamako’s Martyrs monument to demand a swift return to civilian rule after Mali’s military government proposed a five-year transition plan in December with the next presidential elections in 2026. The Martyrs Monument commemorates March 26, 1991, when government soldiers fired on pro-democracy protesters, killing many. Ibrahim Kalilou Thera, one of the demonstration organisers, said military leaders proposed a five-year transition period without consulting the people. The August 2020 coup followed months of anti-government protests in Bamako, some that ended in the killing of protesters by security forces. When the current military leaders first came to power, they were met by large crowds and widespread support in the streets of Bamako.

President: Kazakhstan Situation Has Stabilised “The situation has stabilised in all regions of the country,” the office of Kazakhstan’s President Kassym-Jomart Tokayev said in a statement Sunday, after a week of unrest in which he directed security forces in

a televised national address Friday to shoot to kill protesters without warning in the Central Asian nation. During the week, Kazakh security forces killed 26 demonstrators and arrested 5,800, the president’s office said Sunday. The statement from the presidency said “a substantial number of foreign nationals” were included among those arrested. Eighteen law enforcement officers also died. According to a video released by Russia’s defence ministry, more Russian troops arrived Saturday at Kazakhstan’s Almaty International Airport after the president gave his shoot-to-kill address.

According to Agence France-Presse, Almaty, Kazakhstan’s largest city, was mostly quiet on Saturday, but security forces were firing warning shots if anyone approached the central square.

Army Clears Roads at Snowbound Pakistan Town after Deadly Blizzard Army rescuers Sunday cleared routes around a Pakistan hill town sheltering thousands of tourists after 22 people died in vehicles trapped by heavy snow. The resort town of Murree, around 70 kilometres northeast of Islamabad, was inundated with tourists and day-trippers last week after unusually heavy snow

turned it into a winter wonderland. But a blizzard from Friday onwards felled trees and blocked narrow roads leading in and out of the town, which clings to steep hills and valleys at an altitude of 2,300 meters. “It was not snow, and not even heavy snow, it was unprecedented... with 4-5 feet (1.2-1.5 meters) in few hours,” Tariq Ullah, an administrative official in nearby Nathia Gali, told AFP on Sunday. “(I) never saw such a huge snowstorm in my life. There were strong winds, uprooted trees, avalanches. People around were terrified, each having his or her own account of suffering.”

T H I S D AY ˾ MONDAY, JANUARY 10, 2022

FOREIGN DESK Officials said nearly 100,000 visitors in thousands of vehicles had thronged the town by Friday, causing an enormous traffic jam even before the blizzard.

Iran Justice Workers Protest, Demand Salary Increment Civil servants in one of Iran’s most powerful sectors, the judiciary, held rare demonstrations on Sunday against the government’s refusal to increase their pay. Ultraconservative President Ebrahim Raisi, who assumed his post in August, proposed a salary hike in his previous job as judicial chief in the last weeks. But the new government which he leads changed its mind. Hit by severe economic sanctions imposed since 2018 by the United States, Iran has seen its inflation rate surge to close to 60 per cent. Shargh, a newspaper representing the reformist viewpoint, on Sunday published a video of a protest by hundreds of men and women in front of parliament in Tehran. “If our problem is not resolved, we will shut down the justice system!” they chanted. Another reformist paper, Arman Melli, reported: “Some judicial personnel organised rallies yesterday (Saturday) in most of the country’s cities to protest the rejection of the plan for parliament to increase their salaries.” The demonstrators held up signs with slogans declaring that “justice workers are unable to support themselves” and decrying the “hypocrisy of the government and parliament.” Meysam Latifi, head of the Administrative and Recruitment Affairs Organisation, angered judiciary employees with his remarks in parliament on Wednesday when the increase was rejected.

Prospects Dim as US, Russia Prepare to Meet over Ukraine With the fate of Ukraine and potentially broader post-Cold War European stability at stake, the United States and Russia are holding critical strategic talks that could shape the future of their relationship and the relationship between the US and its NATO allies. Prospects are bleak. Though the immediacy of the threat of a Russian invasion of Ukraine will top the agenda in a series of high-level meetings that get underway on Monday, there is a litany of festering but largely unrelated disputes, ranging from arms control to cybercrime and diplomatic issues, for Washington and Moscow to overcome if tensions are to ease. And the recent deployment of Russian troops to Kazakhstan may cast a shadow over the entire exercise. With much at risk and both warning of dire consequences of failure, the two sides have been positioning themselves for what will be a nearly unprecedented flurry of activity in Europe this week. Yet the wide divergence in their opening positions bodes ill for any speedy resolution, and levels of distrust appear higher than at any point since the collapse of the Soviet Union. US officials on Saturday unveiled some details of the administration’s stance, which seem to fall well short of Russian demands. The officials said the US is open to discussions on curtailing possible future deployments of offensive missiles in Ukraine and putting limits on American and NATO military exercises in Eastern Europe if Russia is willing to back off on Ukraine. But they also said Russia would be hit hard with economic sanctions should it intervene in Ukraine. In addition to direct sanctions on Russian entities, those penalties could include significant restrictions on products exported from the US to Russia and potentially foreign-made products subject to US jurisdiction.

Baby Lost in Chaos of Afghanistan A i r l i f t R e t u r n e d t o Fa m i l y An infant boy handed in desperation to a soldier across an airport wall in the chaos of the American evacuation of Afghanistan has been found. He was reunited with his relatives in Kabul on Saturday. The baby, Sohail Ahmadi, was just two months old when he went missing on August 19 as thousands of people rushed to leave Afghanistan as it fell to the Taliban. Following an exclusive Reuters story published in November with his pictures, the baby was located in Kabul, where a 29-year-old taxi driver named Hamid Safi had found him in the airport and took him home to raise as his own. After more than seven weeks of negotiations and pleas

EU under Pressure on ‘Ghost Flights’ The European Union is under increasing pressure further to ease rules on airport take-off and landing slots to cut the number of “ghost flights” airlines are running to retain them. Carriers say the requirement for them to use 50 per cent of their slots -- down from 80 per cent in pre-pandemic days -- or lose them is forcing them to operate empty or half-empty flights. A sluggish return to air travel, as travellers shrink away from the omicron COVID variant and quickly changing rules for passengers, is dragging out the practice longer than they planned. Belgium’s Brussels Airlines, for instance, says it will have to operate 3,000 under-capacity flights up to the end of March. Its parent company Lufthansa warned last month it expected it would have to run 18,000 “pointless flights” over the European winter. Belgium’s transport minister, Georges Gilkinet, has written to the European Commission urging it to loosen the slot rules, arguing the consequences run counter to the EU’s carbon-neutral

and ultimately brief detention by Taliban police, Safi finally handed the child back to his jubilant grandfather and other relatives still in Kabul. They said they would now seek to have him reunited with his parents and siblings, who were evacuated months ago to the United States. During the tumultuous Afghan evacuation over the summer, Mirza Ali Ahmadi -- the boy’s father who had worked as a security guard at the US Embassy -- and his wife Suraya feared their son would get crushed in the crowd as they neared the airport gates en route to a flight to the US.

ambitions. The current reduced quotas were introduced in March last year in a nod to the hardship airlines faced as COVID washed over Europe for a second year running, shrivelling passenger numbers. In December, the commission said the 50 per cent threshold would be raised to 64 per cent for this year’s April-to-November summer flight season.

Djokovic Did Not Have Guaranteed Entry, Says Australia The Australian government had not assured tennis star Novak Djokovic that a medical exemption that he said he had to enter Australia without a COVID-19 vaccination would be accepted, government lawyers said in a court filing on Sunday. The filing ahead of a court hearing on Monday was in defence of the government’s decision to bar entry to the world number one player over his COVID-19 vaccination status. Djokovic is hoping to win his 21st Grand Slam at the Australian Open,

starting in Melbourne on January 17.

Sudan Protest Group Rejects UN Oﬀer for Talks with Military A leading Sudanese protest group on Sunday rejected a United Nations initiative to hold talks with the military to restore the country’s democratic transition following an October coup. The move is a blow to international efforts seeking an end to Sudan’s political deadlock and suggest that relentless street protests are likely to continue. Over 60 people have been killed since the military takeover. The UN offer Saturday came a week after embattled Prime Minister Abdalla Hamdok resigned, citing a failure to reach a compromise between the generals and the pro-democracy movement. The October 25 coup scuttled hopes of a peaceful transition, over two years after a popular uprising forced the military overthrow of longtime autocrat Omar al-Bashir and his Islamist government. In a statement, the Sudanese Professionals’ Association, which led the uprising against al-Bashir, said the “only way” out of the ongoing crisis is through the removal of the generals from power.

MONDAY JANUARY 10, 2022 • T H I S D AY

MONDAY, JANUARY 10, 2022 • T H I S D AY

NEWS

REMEMBERING THE FALLEN HEROES... L-R: Representative of Oyo State Governor and Secretary to the State Government, Mrs Olubamiwo Adeosun; Commissioner for Women Affairs and Social Inclusion, Alhaja Kafilat Olayiwola; General Officer Commanding, 2 Division Nigerian Army, Major General G. U. Chibuisi; his wife, Joy; Oyo State Head of Service, Alhaja Alolade Agboola and Chairman Nigerian Legion, Oyo State Command, Evangelist Julius Ogunkojo, during the thanksgiving service in commemoration of 2022 Army Remembrance Day Celebration held at St Peters Cathedral, Aremo, Ibadan ... yesterday

Osinbajo Salutes Armed Forces’ Role in Sustaining National Unity Irabor assures 2022 will be peaceful Tallen seeks support for armed forces Sanwo-Olu: Lagos will continue to remember fallen heroes Kingsley Nwezeh in Abuja Vice President Yemi Osinbajo, yesterday, hailed the Armed Forces of Nigeria (AFN) over their role in sustaining national unity in spite of the sacrifices made by gallant men and women in arms. He called on Nigerians to be agents of peace and justice in support of the efforts of the Nigerian armed forces to keep the nation united. Also, the Chief of Defence Staff, Gen. Lucky Irabor, said the armed forces would continue to give their best in addressing the prevailing security challenge confronting the nation. On her part, the Minister of Women Affairs, Mrs Pauline Tallen, called on well-meaning Nigerians to rise up to support the families and widows of the fallen heroes.

Meanwhile, the Lagos State Governor, Mr. Babajide SanwoOlu, has said the state government would continue to play its role and do what was expected in remembrance of the fallen heroes and heroines, who paid the supreme price for Nigeria. However, Osinbajo, who was represented by the Secretary to the Government of the Federation, Mr Boss Mustapha, made the call at the Inter-denominational Church Service to mark the 2022 Armed Forces Remembrance Day celebration in Abuja. He said the patriotic commitment of the gallant men and women of the armed forces was woven into the fabric of the common destiny of a nation populated by people of diverse faiths and ethnicity. According to him, the diversity was reflected within the military,

ECOWAS IMPOSES FURTHER SANCTIONS ON MALI JUNTA

progress in the preparations for the elections, despite the willingness of ECOWAS and all regional and international partners to support Mali in this process. “The Authority was briefed on the conclusions of the Assises National de la Refondation (ANR) of 13 December 2021, leading to the adoption of a calendar on the Transition in Mali. The calendar submitted on December 31, 2021 by the transition authorities to the Chairperson of the ECOWAS Authority of Heads of State and Government, schedules presidential elections to take place by the end December 2026. “This will imply a transition period of six and a half (6.5) years. The Authority noted that important stakeholders did not participate in those ANR, thus reflecting a lack of consensus by national stakeholders with regards to the proposed calendar. Following the visit of the Mediator to Mali on 5 January 2022, the Transition Authorities submitted on 8 January 2022, a new calendar scheduling the conduct of the presidential elections for the end of December 2025, setting the duration of the transition for a total of five and a half years (5.5) years.” Furthermore, it pointed out that the Authority found the proposed calendar for a transition totally unacceptable, stating that the

calendar simply meant that an illegitimate military transition government would take the Malian people hostage during the next five years. It, therefore, reiterated its call for the transition authorities to focus on activities geared towards an expeditious return to constitutional order and to defer key reforms within legitimate elected institutions to be established after the elections. “In view of the above, the Authority decides to uphold the initial sanctions already imposed on Mali and on the transition authorities. The Authority also decides to impose additional economic and financial sanctions, in conformity with its deliberations at its Sixtieth Ordinary Session held on 12 December 2021 in Abuja, Federal Republic of Nigeria. These additional sanctions include: Recall for consultations by ECOWAS Member States of their Ambassadors accredited to Mali; closure of land and air borders between ECOWAS countries and Mali; suspension of all commercial and financial transactions between ECOWAS Member States and Mali, with the exception of food products, pharmaceutical products, medical supplies and equipment, including materials for the control of COVID-19, petroleum products and electricity.”

where people from various ethnic and religious backgrounds were united by their nationality with the desire to serve their country hence the reason the armed forces remained a symbol of the national spirit of resilience, unity and strength in diversity. He noted that the sustainability of Nigeria’s unity from the civil war to the present struggle against terrorists and insurgents, was made possible in large part by the dedication to duty of the men and women of the armed forces, often at great cost to themselves. Osinbajo said, "The question of whether and it is still being answered eloquently by the sacrificial courage of the men and women that serve in our armed forces but the real question is, whether we as a people are worthy of their sacrifices. “The only way to truly repay those that pay the supreme sacrifice or price in service of the rest of us is to commit ourselves to living for the ends for which they have given their lives. It is for the rest of us to live in accordance with our highest values as a people and ensure that we all become agents of peace and justice. Long before wars break out, violence manifests itself as hatred, prejudice, injustice and bigotry. “All of us have a duty to take a stand and challenge these evils wherever they rare their heads to prevent them from taking root and breeding conflict. This is how we will ensure that the labours

of our heroes will never be in vain,” he said. The vice president said citizens had roles to play in support of the military men and women at the frontline of struggle for the soul of the nation to contend for the triumph of civilised values over the forces of anarchy. He said, "It was not just fighting to preserve that Nigeria of today with all its imperfections but to leave a better country behind for our children and children’s children. It is the struggle to realise the words of our national anthem and make Nigeria a land, where peace and justice shall reign". He reiterated the commitment of the government to ensuring that the families of the fallen heroes and veterans were adequately catered to, saying welfare benefits and entitlement of members of armed forces and their families would remain a priority. Irabor, while addressing the prevailing security challenge confronting the nation, said the military had achieved milestone in containing the challenges, adding that the armed forces would escalate the actions that brought about the current successes against insecurity. He noted that the military would ensure that there would be no need for anyone to worry in any part of the country, saying 2022 held better good for the country. Tallen, on her part, said the government had been doing its

best and would continue to do more, adding that government alone could not completely address the needs of the affected citizens. “The least we can do is to support them because their husbands laid down their lives for us and the cry of a widow is to pray to God. I pray that every Nigerian would resolve to support the widows of our fallen heroes and if we do it, we will breed healthy families and healthy children,” she said. Sanwo-Olu, speaking at the 2022 Armed Forces Remembrance Day celebration interdenominational divine service held at the Chapel of Christ the Light, Alausa, Ikeja, commended the Nigerian Armed Forces for keeping the peace in different parts of the country and promised to continue with the tradition of remembering the fallen heroes and to always pray for the living among them. Speaking at the interdenominational service organised by the Ministry of Home Affairs and themed: "I will heal their land (2 Chronicles 7:14)," Sanwo-Olu said his government would keep the tradition of ensuring that the relationship between his administration, the residents and Armed Forces continue to grow, praying that God would heal the land. The governor also urged the citizens to support the security forces as they work tirelessly to keep the nation safe.

“As we keep the tradition of having this service to remember our fallen heroes and heroines that have paid the supreme price for this great nation, the government and people of Lagos State will continue that tradition and will continue to ensure that the relationship that exists between the political class, the civilians and the military, continue to grow on daily basis. "Today is for the remembrance of our fallen heroes and on behalf of the people and government, I want to thank all their families that are here and assure them that government will continue to do what is expected of us to continue to remember them and to say that their efforts and commitments to the country are not in vain. "We pray that our country will know peace; will know greatness. As we journey in 2022, the peace of the Lord, which surpasses all understanding will rest with our country and our state. It will be well with Lagos State. It will be well with Nigeria. It will be well with each and every one of us," he prayed. In his sermon, Bishop Isaac Olubowale, Bishop of Ekiti Church of Nigeria, Anglican Communion, emphasised that Nigeria as nation must return to God for solution to it’s current challenges. Using the National Anthem as example, Olubowale said the nation was founded on God with the core elements of the anthem anchored on God.

Name, Prosecute Terrorism Sponsors, Onuesoke Tasks FG Sylvester Idowu in Warri A Chieftain of the Peoples Democratic Party (PDP) and former Delta State governorship aspirant, Chief Sunny Onuesoke has challenged the federal government to name and prosecute those financing terrorism in the country. Onuesoke, in a statement issued yesterday, said he shared the same view with the Chairman, Senate Committee on Army, Ali Ndume that those behind terrorism should be exposed and put to shame. Sylvester Idowu in Warri A Chieftain of the Peoples

Democratic Party (PDP) and former Delta State governorship aspirant, Chief Sunny Onuesoke has challenged the federal government to name and prosecute those financing terrorism in the country. Onuesoke, in a statement issued yesterday, said he shared the same view with the Chairman, Senate Committee on Army, Ali Ndume that those behind terrorism should be exposed and put to shame. The PDP Chieftain maintained that exposing the financiers of terrorism would go a long way in saving the lives of innocent people being mowed down on

daily basis. "I hold a very strong view that if the financiers were identified and prosecuted, it would go a long way in minimising the activities of terrorists thereby saving lives and property and also boost the socio-economic lifestyle of Nigerians. “Mr Malami told the News Agency of Nigeria (NAN) in New York that the federal government had succeeded in identifying and detaining “high profile individuals” responsible for funding terrorists’ activities in the country. “The AGF equally announced in May that the Nigerian

government was about to begin the prosecution of about 400 suspected Boko Haram financiers and was profiling some high-profile Nigerians strongly suspected to be financing terrorism for prosecution. But over six months now, nothing was heard about the prosecution of the 400 suspected Boko Haram financiers,” he lamented. Onuesoke stated that the delay in unveiling and prosecution of the suspects was not only having a serious effect on the security of the nation but equally responsible for loss of lives and the hyperinflation in the prices of food products in the country.

MONDAY JANUARY 10, 2022 • T H I S D AY

NEWS

76-year-old Grandfather Arrested for Selling Illicit Drugs Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA) in Edo State have arrested a 76-year-old grandfather, Osagie Robert for selling cannabis popularly called Indian hemp. Also in the same state trading in a suspected fake security agent, Godwin Ilevbare, a.k.a Edwin Agbon was also arrested for importing drug chocolates and cookies from Canada into Nigeria to sell. A statement yesterday by the spokesman of NDLEA, Femi Babafemi, said the septuagenarian popularly called old soldier was arrested last Friday in Egor, Oredo area of the state for dealing in cannabis while Godwin was nabbed during a controlled delivery of a consignment shipped into Nigeria through a courier company. He said soon after Godwin signed for the consignment, undercover operatives embedded in the courier firm arrested him at his apartment in Benin City last Tuesday. According to Babafemi, the consignment, which emanated from Canada, contained Colorado

brand of cannabis concealed inside chocolates and cookies weighing 6.5 kilogrammes, while the drug cookies and chocolates weighed 5.6 kilogrammes and 0.4 kilogramme respectively.

Two lecturers at the Federal University Oye-Ekiti (FUOYE), Dr. Akinyemi Omonijo and Professor Adeyemi Oluwagbemiga have accused management of the University of flagrant disobedience to valid court orders. According to the lecturers, the management of the University refused to obey two separate judgements of the National Industrial Court, sitting in Akure and Abuja respectively that ordered their immediate reinstatement In the case of Omonijo, the current Chairman, Academic Staff Union of Universities, ASUU of the University, was placed on an indefinite suspension by the University

Brazil via Addis Ababa, Ethiopia was on new year eve arrested and placed on observation during which he confessed to have swallowed 58 pellets of cocaine out of which he excreted

48 pellets which were delivered to a Kenyan while on transit in Addis Ababa for a fee of N1million. He said he continued his journey to Nigeria with the

remaining 10 pellets in his stomach, which, according to him, he intended to sell in Lagos. The wraps of cocaine were later excreted at 10:40am on New Year day.

MOU FOR INTERNET ACCESS…

L-R: Deputy Vice Chancellor, Academic, Lagos State University (LASU), Prof. Elias Wahab; Group Managing Director/CEO, VDT Communications, Mr. Biodun Omoniyi; Vice Chancellor, LASU, Prof. Ibiyemi Olatunji-Bello, and Deputy Vice Chancellor, Administration, , Prof. Adenike Boyo, during the signing of a Memorandum of Understanding between LASU and VDT for premium internet service provision for its three campuses in Ojo, Ikeja and Epe, Lagos...recently

Sacked Lecturers Accuse FUOYE Management of Flouting Court Orders Wale Igbintade

Babafemi said in a related development, a 48-year-old Iloduba Augustine, a passenger of Ethiopian Airline that arrived Akanu Ibiam International Airport, Enugu, from Sao Paulo,

in 2019, via two separate letters dated February 14 and 15, 2019, signed by the then Acting Registrar of the institution, Mrs. Olayinka Adeniran-Ajayi. Aggrieved, Omonijo through his lawyer, Mr. Femi Falana, SAN in suit number NICN/AK/21/2019 filed before the National Industrial Court, Akure Division, urged the court to declare his indefinite suspension without pay illegal, unconstitutional, and a violation of the provisions of the Trade Union Act. However, during the pendency of the suit, both parties reached an amicable settlement of their disputes and requested that judgment of the court be entered based on the agreement.

Akeredolu Vows to Nab Attackers of Ondo Community Fidelis David in Akure Ondo State Governor, Oluwarotimi Akeredolu (SAN) yesterday visited Omolege Junction near Ute in Ose Local Government Area of the state, where gunmen suspected to be Fulani herdsmen killed three people and razed buildings in the community overnight. Akeredolu, who commiserated with the people over the death of their

loved ones, particularly the community head, vowed that concerted efforts will be made to ensure that such an attack does not reoccur in the state. The governor visited the scene in company with the state Commissioner of Police, Oyediran Oyeyemi, Commander of Amotekun Corps, Tunji Adeleye, and some members of the state executive council. He said:”I commiserate with

you on the death of your loved ones. May their souls Rest In Peace. No government will be happy with this kind of development. “But you have to be prepared. These herdsmen are becoming too problematic. We are not sleeping. You can see Police and Amotekun here. With this one they have done, we will ensure that it is their last evil act here. “Those behind this are

criminals. Those supporting them are all criminals too. Anyone who commits crime will answer for it. The Police and Amotekun with other security agencies will set out and bring them to justice. We will treat them like criminals. “Both the Police and Amotekun have briefed me that they were being shot at. But for their boldness and courage, the criminals would have overwhelmed them.

We Want Devt, Not Gunboats, Ijaw Youths Tell Obaseki Adibe Emenyonu inBeninCity

Ijaw Youth Council (IYC) has said that Ijaw communities in Edo deserve development from the government than procurement of gunboats to enhance security in the riverine areas of the State. Secretary, Western zone of the IYC, Omaghomi Olu-Derimon stated this in a press statement yesterday in Benin City.

Olu-Derimon, who commended the Governor Obaseki for the enhance security across the state, said that the ijaws desire infrastructural development in their communities now than they ever did. He particularly noted that the people would have been more pleased and elated if the funds used for the gunboats were directed to address the

huge infrastructural deficit that is bedeviling the riverine communities. He said: “This is particularly so as the first sets of gunboats procured by the government were yet to be utilised. It will be wrong if we say the governor is not doing his best in terms of security as it affects the state. Even the blind can attest to the fact that security in the state has

improved tremendously under the leadership of our undaunted Governor. Thanks to all security agencies and the Edo State Vigilance Network whom are on ground in almost all communities in Edo State, including our riverine areas. Just recently the government announced that it has acquired some gunboats for the riverine areas of Edo state which is mostly occupied by the Ijaws of Edo state.

Ekiti 2022: Incumbency Abiodun Declares War on Vandals of Public Property punitive measure against became expedient due to the cables stolen. Power, Federal Might will James Sowole in Abeokuta aanyone caught vandalising activities of vandals who have "I will be sending a bill to stolen the poles and cables the House of Assembly for The Ogun State Governor, public utilities. Fail APC, Says Olujimi Abiodun issued the of the newly installed street a punitive measure against Dapo Abiodun, yesterday warned against vandalisation warning while speaking at lights on the Abeokuta-Siun- anyone caught vandalising Victor Ogunje in Ado Ekiti

Former Senate Minority Leader and Senator representing Ekiti South Senatorial District, Senator Biodun Olujimi, has said that the much touted power of incumbency and federal might won't work for the ruling All Progressiveness Congress (APC), in the June 18 Ekiti governorship poll . The ranking senator said the Peoples Democratic Party (PDP) would win the election because the ruling APC has failed to deliver democracy dividends to the populace. The federal lawmaker also harped on the imperative of zoning of the ticket to the South Senatorial district that has not produced a governor since 1999, saying defying such fair and

justifiable agitation would be tantamount to sowing a seed of discord in the state. The Senator spoke in Ado Ekiti at the weekend, while distributing letters of employment to 25 Ekiti unemployed graduates. Boasting that poll robbery and vote buying will fail in Ekiti election, Olujimi said: "Nobody can run away with the PDP votes because we all know the tricks now. Some of us know the tricks because we have weathered the storm before. "Power of incumbency and federal might won’t work this time around because we all know each other. It won’t happen again because we will be proactive and ensure that nobody runs away with our votes."

of public infrastructure and utilities in the state, declaring that anyone found culpable would be punished according to The governor disclosed that he would send a bill to the House of Assembly for

the special Church Service programme to mark this year's Armed Forces Remembrance Day celebration held at the Cathedral Church of St. Peter at Ake, Abeokuta, the state capital. He noted that the warning

Sagamu road. The governor said: "Last night, we were coming from Ijebu-Ode and noticed that some parts of the lights were not on, and on enquiry, we were told that some poles were vandalised and the

public utilities. "Let parents warn their children and wards. I won't entertain any call from parents whenever anyone is caught in the act of cultism, vandalism, banditry or any other criminal activity.

Lawmaker Backs Osinbajo for Presidency in 2023 Sylvester Idowu in Warri Member of the House of Representatives from Ughelli North, Ughelli South and Udu Federal Constituency, Rev. Francis Waive has called on Vice President Yemi Osinbajo to contest the 2023 Presidential election. He, however, urged Osinbajo to contest on the platform of

the All Progressive Congress (APC) assuring that he will win the next year election with ease. Waive, who is the only APC member of the House of Representatives from Delta State opined that nobody from the opposition People's Democratic Party (PDP) can match the candidacy of Prof. Osinbajo adding that the Vice President will win the 2023

elections with ease from the APC. The lawmaker, who is the Deputy Chairman of the House Committee on Power as well as Chairman Nigeria Niger Parliamentary Friendship Group, in a statement yesterday called on APC leaders to do the needful and support Prof. Osinbajo if the party is to win the 2023 Presidential election.

He said that the vice president has displayed all the character traits of a good leader, adding that he has been a trustworthy and loyal deputy to President Mohammadu Buhari. Hon. Waive noted that Prof Osinbajo has proven capacity to turn the fortunes of the country around building on the foundation laid by the present administration.

MONDAY JANUARY 10, 2022 • T H I S D AY

NEWS XTRA

SERAP Sues Lawan, Gbajabiamila over Failure to Probe Missing N4.1bn N'Assembly Funds Udora Orizu in Abuja Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Senate President, Ahmad Lawan, and Speaker of House of Representatives, Hon. Femi Gbajabiamila, over their failure to probe and to refer to appropriate anti-corruption agencies fresh allegations that N4.1billion of public money budgeted for the National Assembly is missing, misappropriated or stolen. SERAP had last year sent a letter to Lawan and Gbajabiamila requesting them to urgently probe the allegations. The suit followed the publication of the annual audited report for 2016 in which the Auditor-General of the Federation raised concerns about alleged diversion and misappropriation of public funds, and sought the recovery of any missing funds. In the suit number FHC/ ABJ/CS/1609/2021 filed at the Federal High Court in Abuja, SERAP is seeking an order of mandamus to direct and compel Lawan

and Gbajabiamila to perform their constitutional oversight functions to promptly probe the allegations. SERAP is arguing that the National Assembly

has constitutional duties to prevent and combat corruption, as well as promote transparency and accountability in the management of public resources.

According to SERAP, the National Assembly has no legally justifiable reason to refuse to investigate the allegations documented by the Office of the Auditor-General

of the Federation. The suit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare and Kehinde Oyewumi, read in part: “Granting this application

would serve the interest of justice, reduce corruption and mismanagement, as well as end impunity of perpetrators, and advance the fundamental human rights of Nigerians.

TRADITIONAL RECOGNITION…

L-R: Managing Director/CEO, Awka Millenium City Estate, Chief Clem Nwogbo; his wife, Mrs. Uche Nwogbo, and Deputy Gubernatorial Candidate of All Progress Congress (APC) in the last Anambra State’s election, Mr. Emeka Okafor, at a ceremony to confer the title of Akudo on Chief Nwogbo by the traditional ruler of Enugwu-Ukwu, in Anambra State....recently

Man, 25, Kills Father Enugu Community Hails Ugwuanyi over to Inherit His Estate Projects, Empowerment in Niger

Laleye Dipo In Minna

A 25-year-old man Abubakar Mohammed Buba, has reportedly killed his 52-yearold father Mohammed Buba with the intention of inheriting his fathers' estate. Buba, now with the police in Minna Niger state was assisted to carry out the illegal act by one 26-year-old Aliyu Mohammed. While Buba was staying in the Chanchaga area of Minna, he was said to have gone to the father’s residence in the Korokpan area of Paikoro local government of the state to commit the dastardly act. The incident occurred on the 13th of October 2021. Police account of the incident revealed that the prime suspect in the murder hired one Aliyu for the sum of N110,000 to

assist in the murder of his father. The duo, according to the police, hacked the deceased to death and dismembered his body which was packed in a sack that was dumped in the bush at Tagwai dam road. After the incident Mohammed Buba was said to have sold part of his father’s property to raise the balance of N60,000 which he paid to Aliyu who had before collected advanced payment of N50,000. Police said Aliyu is still at large. Police Public Relations Officer Niger State Police Command DSP Wasiu Abiodun, in a statement confirming the sad incident, said Buba had confessed to committing the crime after which he (suspect) allegedly led investigators to where the deceased body was dumped.

Political leaders, stakeholders and six traditional rulers from Eha-Alumona in Nsukka Local Government Area of Enugu State yesterday led the people of the community to the Government House Enugu to thank Governor Ifeanyi Ugwuanyi for the massive road projects his administration has executed in their area. The Eha-Alumona people also thanked Ugwuanyi for

the creation of two additional autonomous communities for them, Eha-Etiti and EborUmabor Eha-Alumona, as well as the appointment of many of their sons and daughters into government positions. They said that Eha-Alumona is one of the major beneficiaries of Ugwuanyi administration’s rural development policy, stressing that no past administration has done

this in their land in terms of infrastructural development and empowerment of their people. The people therefore, declared their unalloyed support for Ugwuanyi and his political aspirations in 2023. Speaking, the six traditional rulers appreciated Ugwuanyi for the two autonomous communities his administration created as well as earthwork

on the 16km erosion ravaged Eha-Ulo/Eha-Etiti/Eha-NdiaguMbu road and 24km Premier Junction-Umabor-Mbu road, covering 40km, among other projects. “No governor has done what you did in the land of Eha Alumona. We are solidly behind you.We pray for you and where you stand is where we stand in 2023,” they said.

Two Arrested for Assault, Death of Lady

Becky UmemyiliI

Two persons have been arrested by the Ogun State Police command for assault and murder of their mistresses respectively at various locations within the state. The incidents, which occurred very recently, showed that a 14-year old housemaid abducted a two-year old son of her mistress from the Sunday school class in their church.

The suspect, namely Favour Iwuozor, who got the custody of the child from the church with ease because she was known to the members as the housemaid, started to beg for alms (under the pretence of being orphans) in order to raise transport fare to take the child to the Eastern part of the country. Luck ran out on her when another woman, namely Victoria Nwafor, decided to

accommodate them in her house on compassion due to the ill health of the boy-child. But the girl planned to escape from her apartment with the child, an action which aroused the woman’s suspicion and her subsequent report to the police. Further investigation by the police revealed that the maid planned to take the child to Imo state secretly but has immediately ordered for the parents of the boy to be

contacted. Similarly, 38- year-old Daniel Udoh was arrested last week for stabbing to death the husband of his alleged woman lover. It was gathered that the deceased accused the suspect of illicit love affair with his wife, which led to a physical fight between the two men and it was in the process that the suspect stabbed the deceased severally with a knife.

Worried by the high rate of crashes and attendant carnages on highways in Kogi State, the state Ministry of Transportation has banned commercial tricycle and motorcycle operators from plying highways in the state. The decision to restrict the operators to only township

stakeholders’ meetings held in Lokoja, the state capital, between last Wednesday and Friday. This was contained in a communique issued at the end of the meetings, and a copy was made available to journalists at the weekend in Lokoja The commercial motorcycle

operators are now restricted to township routes, as they are banned from state roads with the aim to stop carnages and prevent further crashes on the highways. In the same vein, the state Ministry of Transport has directed that all trucks/vehicles operating within the state must

in residential areas. According to the ministry, “All vehicle road users operating within the state have been enjoined to validate their papers always “Vehicle road users are equally advised to co-operate with law enforcement agencies and officers.

Amotekun Operatives Arrest 600 Suspects, Impound 500 Kogi Bans Commercial Motorcycles, Tricycle Operators from Highways Vehicles in Ondo roads was taken at critical and tricycle (Keke NAPEP) observe minimal speed limits Ibrahim Oyewale in Lokoja

Fidelis David in Akure

The Ondo State Security Network Agency codenamed Amotekun has arrested no fewer than 600 suspected criminals in two weeks during the just concluded Christmas and New Year celebrations period. The state Commander of the Amotekun corps , Akogun Adetunji Adeleye, who disclosed this in Akure said the suspects were arrested for their involvement in various criminal activities in the state during the festive season and the 'Operation Clean Up Phase 7' embarked upon by the command in December 2021. Adeleye, who also disclosed that over 500 vehicles were also impounded, stated that some of the suspects had been

charged to court. He said: " We assured the people of Ondo State hitch free Christmas and New Year festivities and to the glory of God, throughout the period there were no criminal activities but in one or two instances where we had security breaches , the criminals were all arrested and brought to book. "In the last one month, for only two weeks, the ban on unregistered vehicles and vehicles without permit and the abuse on the provision of the restriction on the use of motor cycles(okada) in the night brought to a standstill 80 per cent criminal activities in Ondo State. " Initially, people were not too happy until they realised that it was for their good.

Top Banker, Ononogbu, Emerges Abia APC Chairman Emmanuel Ugwu-Nwogo in Umuahia The All Progressives Congress (APC) in Abia State at the weekend elected a new state Chairman, Dr. Kingsley Ononogbu, at a special state congress in Umuahia to fill the void created by its late chairman. The national leadership of

APC had given the nod for the special congress to be conducted in order to fill the chairmanship position which became vacant following the death of Mr. Enyinnaya Harbour last month. Harbour was elected at the state congress in October 2021, but died barely two months after. But in a seamless special

state congress, Ononogbu, a former general manager, risk management at Spring Bank Plc, was democratically chosen to take the reins of leadership of the party, as Abia State APC continues to wax stronger ahead of the 2023 poll. Hon Babatunde Kolawole, who headed the Special Congress Committee, announced

that Ononogbu, who was a sole contestant, polled 1,067 votes out of 1,075 votes cast, meaning that he was endorsed by 99.3 percent of the delegates. He said 1,085 delegates attended the special congress out of which 1,080 were accredited and eight void votes were recorded after the ballots were counted.

MONDAY, ͹͸˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

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Osimhen Back from COVID Lockdown, Lands in Napoli for Checkups

Duro Ikhazuagbe Nigerian and Napoli forward, Victor Osimhen, 23, has recovered from the Coronavirus infection that stopped him from traveling to Italy for the medical examination of his cheekbone injury and subsequent dropping out of Super Eagles squad for the Africa Cup of Nations in Cameroon. Napoli announced Osimhen’s recovery from Covid yesterday on their official Twitter handle. “Victor is negative for COVID and

will return to Italy in the coming hours,” Napoli gleefully wrote on Twitter on Sunday. In Osimhen’s absence, Napoli have struggled to keep pace in the Italian topflight. Until the Nigerian international got injured in a Serie A match with Skriniar of Inter Milan, Osimhen had scored nine goals in 14 club appearances this season. Napoli were leading the pack. The Partenopei are now third on 43 points behind Inter Milan (49) and AC Milan on 48 points. He’s expected to show up at the

surgeon’s place today for the examination of the injury. If the medics find massive improvement in Osimhen’s injury, the Super Eagles forward is likely to return to action for Napoli wearing a mask before weekend. Osimhen tested positive for Covid at the end of December and was initially ruled out of football for three months. However, barely one month into his treatment regime, Nigerian football fans who were sulking going to miss their prized forward at the AFCON in Cameroon were shocked to hear from Osimhen that he was fit to play

with a protective mask for Nigeria at the tournament. But like several big European clubs who didn’t want their players to go for the African football showpiece for fear of contracting Covid, a club versus country spat ensued between the NFF and Napoli. Osimhen however solved the lock jam, offering to skip the tournament. Napoli’s next games after defeating Sampdoria 1-0 last night include the fixture against Fiorentina in the Coppa Italia on Thursday and Bologna on Monday January 17 in Serie A.

Victor Osimhen...free from COVID again

Cameroon’s Indomitable Lions Captain, Vincent Aboubakar (third right) celebrating his two penalty goals in the 2-1 defeat of Burkina Faso...yesterday

Hosts Cameroon Kick off Campaign with Win against B’Faso Cameroon’s Indomitable Lions came from behind to beat Burkina Faso 2-1 in an incidentpacked opener at the Africa Cup of Nations (AFCON) inside Olembe Stadium in capital city Yaounde. The host were however jolted by the audacity of the Burkinabes inside the first 20 minutes. An acrobatic volley from Gustavo Sangare put the Burkinabe ahead midway through the first half in Yaounde. But two unerring penalties

3 3 r d A F R I CA C U P O F N AT I O N S from captain Vincent Aboubakar turned the game around for the hosts before half-time. Indomitable Lions keeper Andre Onana made two crucial second-half saves as Toni Conceicao's side opened their Group A campaign with victory. The Nations Cup has been delayed a year by the coronavirus pandemic, but

the first game in the Olembe Stadium, which followed a colourful opening ceremony, served up an absorbing contest. Burkina Faso defender Steeve Yago was lucky to only see yellow for a first-minute sliding tackle on Collins Fai, which was the first of several rash challenges which ultimately cost the Stallions. Burkina Faso took the

Nwakali Speaks About Kanu’s Influence on His Career

Kelechi Nwakali has revealed inspiration from some of Nigeria’s greats like Nwankwo Kanu pushed him to take his place in the Super Eagles squad at the AFCON in Cameroon. Nwakali was the MVP of the 2015 FIFA U17 World Cup in Chile ahead of teammates Victor Osimhen and Samuel Chukwueze, who have since established themselves in the Super Eagles.

Midfielder Nwakali has taken a lot longer to make his way to the Eagles and he said he has now done so partly due to the encouragement he received from some of the country’s top stars. “Former players like Kanu, Obinna Nsofor and Emmanuel Amuneke, who was my coach (at U17 and U20 levels), told me that I am not there yet, but you will be there if you kept

working hard and you keep believing in yourself,” he said. “I was just patient, waiting for the time while working hard.” Nwakali, who has captained both Nigeria U17s and U20s, was not in the original provisional squad submitted by Gernot Rohr, but caretaker coach Augustine Eguavoen drafted him when he took over the team.

lead following their first sustained period of pressure after Bertrand Traore saw his header from a corner cleared off the line by Nouhou Tolo and Sangare clipped the crossbar with a cross. In the group’s other game of the night, Julio Tavares’ goal in the added minute of the first half gave Cape Verde a precious 1-0 defeat of Ethiopia to collect maximum three points. The Ethiopians played one man down from the 12th minute after Yared Baye was shown a red card.

RESULTS Cameroon 2-1 B’Faso Ethiopia 0 -1 Cape Verde

FIXTURES

PHOTO: CAFonline.com

ALL THE GROUPS Team. Cameroon Cape Verde B’Faso Ethiopia

P. 1. 1. 1. 1.

W 1. 1. 0. 0.

Team. Guinea Malawi Senegal Zimbabwe

P. 0. 0. 0. 0.

W 0. 0. 0. 0.

Morocco v Ghana (5pm) Guinea v Malawi (5pm) Comoros v Gabon (8pm)

GF 2. 1. 1. 0

GA 1. 0 2. 1.

GD 1. 1. -1. -1.

PTS 3 3. 0 0.

GF 0 0 0 0

GA 0. 0. 0. 0.

GD 0. 0. 0. 0.

PTS 0 0 0 0

GF 0 0 0 0

GA 0. 0. 0. 0.

GD 0. 0. 0. 0.

PTS 0 0 0 0

GF 0 0 0 0

GA 0. 0. 0. 0.

GD 0. 0. 0. 0.

PTS 0 0 0 0

GF 0 0 0 0

GA 0. 0. 0. 0.

GD 0. 0. 0. 0.

PTS 0 0 0 0

GF 0 0 0 0

GA 0. 0. 0. 0.

GD 0. 0. 0. 0.

PTS 0 0 0 0

GROUP B D 0 0 0 0

L 0. 0. 0. 0.

GROUP C Team. Comoros Gabon Ghana Morocco

P. 0. 0. 0. 0.

W 0. 0. 0. 0.

D 0 0 0 0

L 0. 0. 0. 0.

GROUP D Team. Egypt G’Bissau Nigeria Sudan

P. 0. 0. 0. 0.

W 0. 0. 0. 0.

D 0 0 0 0

L 0. 0. 0. 0.

GROUP E

(MON Jan. 10) Senegal v Zimbabwe (2pm)

GROUP A D L 0. 0 0. 0 0 1. 0 1.

Team. Algeria Ivory Coast E’Guinea S’Leone

P. 0. 0. 0. 0.

W 0. 0. 0. 0.

D 0 0 0 0

L 0. 0. 0. 0.

GROUP F (TUES Jan 11) Algeria v Sierra Leone (2pm) Nigeria v Egypt (5pm) Sudan v G’Bissau (8pm)

Team. Gambia Mali Mauritania Tunisia

P. 0. 0. 0. 0.

W 0. 0. 0. 0.

D 0 0 0 0

L 0. 0. 0. 0.

MONDAY, ͹͸˜ ͺ͸ͺͺ ˾ T H I S D AY

SPORTS

COVID Knocks out Mendy, Koulibaly from Senegal, Zimbabwe Clash Senegal will be without goalkeeper Edouard Mendy and defender Kalidou Koulibaly for their opening game at the Africa Cup of Nations today after both players tested positive for coronavirus. The Teranga Lions, runners-up at the 2019 edition of the tournament, face Zimbabwe in their opening Group B game at 2pm today. Chelsea keeper Mendy, centreback Koulibaly and striker Famara Diedhiou have all gone into isolation. Coach Aliou Cisse said: "It's a difficult and complicated situation." Cisse looks set to have just 17 players available for the match in Bafoussam because of several

AFCON COVID-19 cases and injuries. But he added: "We are going to be competitive and those there are going to play for those who are absent. We are still going into the game against Zimbabwe full of confidence." Senegal's other Group B match between Guinea and Malawi will also witness absence of some key players as both teams have also lost players to positive tests. Similarly, Morocco who are playing Ghana’s Black Stars in Yaounde this afternoon have also lost the pair of Aymen Barkok and Auyoub El Kaabi to COVID.

Nations Cup rules state countries must play if they have 11 players available- even if they do not have a recognised goalkeeper. Koulibaly, who captains his country, said he is asymptomatic and club side Napoli said he had been vaccinated. The 30-year-old centre-back has not played since 1 December because of injury. Senegal travelled to Cameroon on Wednesday without six other players who returned positive tests before their departure. Second-choice goalkeeper Alfred Gomis, Saliou Ciss, Bamba Dieng, Mame Baba Thiam, Pape Matar Sarr and Nampalys Mendy were all left behind in Dakar.

Edouard Mendy (left) and Kalidou Koulibaly have been ruled out of taking part in today’s Senegal PHOTO: Getty Images versus Zimbabwe clash in Cameroon due to positive COVID results

In Absence of Salah, Mane, Liverpool Struggle against Shrewsbury to Reach 4th Round In the absence of their African stars who are away to Cameroon for the ongoing 33rd Africa Cup of Nations (AFCON), an understrength Liverpool had to come from behind at Anfield to beat League One Shrewsbury Town 4-1 to reach the fourth round of the FA Cup. The seven-time winners were shocked by Daniel Udoh's opener for the visitors. The Reds are missing their African stars including Mohamed Salah, Sadio Mane and Naby Keita who are away in Cameroon to represent their countries. But impressive teenager Kaide Gordon quickly levelled, before Fabinho fired the Reds ahead with a penalty for handball just before the break. Substitute Roberto Firmino's classy backheel and Fabinho's late second wrapped up an ultimately emphatic win. The Brazil midfielder's penalty to put his side ahead was his first goal at Anfield since June 2020, a 30-yard rocket in an empty stadium that helped beat Crystal Palace and took his side to the brink of their first league title in 30 years. And his second iced the cake for Covid-hit Liverpool as, with a side containing five youngsters, they were much more efficient in beating Shrewsbury than two seasons ago, when they were taken to an Anfield replay. Elsewhere, Tottenham sum-

FA CUP moned the cavalry to secure a place in the FA Cup fourth round, coming from a goal down to beat Morecambe 3-1. Shrimps defender Antony O'Connor sidefooted a volley in from 10 yards to score the game's opening goal after 33 minutes, prompting wild celebrations among the travelling supporters. But their hopes of a famous victory faded as goals from Harry Winks and substitutes Lucas Moura and Harry Kane gave Tottenham victory.

...Nottingham Forest Knock out Arsenal

Arsenal lost to Nottingham Forest in the FA Cup third round

for the second time in four years thanks to Lewis Grabban's late strike. The visitors seemed to have turned a corner of late but were deservedly beaten 1-0. at a noisy City Ground. Mikel Arteta made numerous changes to his line-up but there was still a strong core to his team. Bukayo Saka, Martin Odegaard and the in-form Gabriel Martinelli were among those in the side. Forest, who beat the Gunners 4-2 at the same stage in 2018 and who have not lost a home tie in six years, were physical from the start. Debutant Kienan Davis, leading the line after completing a loan move from Aston Villa, caused problems for the visiting defence during a first half in which Arsenal failed to assert themselves.

Nottingham Forest players celebrating another famous defeat of Arsenal in the third round of the FA Cup...yesterday. PHOTO: Action Images via Reuters

Over 150 Lifters for Blind Powerlifting Trial in Lagos Over 150 blind powerlifters drawn from across the country will be slugging it out at the maiden Nigeria Blind Powerlifting/ Bench Press Trials holding between January nine 11 and 13 at the National Stadium Surulere, Lagos Event Coordinator, Barr. Silver Ezeikpe, said the trials

which is the first of its kind in Nigeria, is aimed at selecting the lifters that would represent the country at the forthcoming first IBSA Powerlifting/Bench Press World Cup and 2nd Africa Continental Powerlifting and Bench Press Championships holding between March 22 and 29, 2022

in Alexandria, Egypt . Ezeikpe added that this is a complete departure from the past where people fraudulently package themselves to such championships without going through the right channels thereby dragging the good image of Nigeria in the mud.

MONDAY JANUARY 10, 2022 • T H I S D AY

Monday January 10, 2022

UT H

& RE A SO

Price: N250

MISSILE Afe Babalola to Nigerians “We must avoid recycling old failed leaders in the governance of this country. Any mistake of electing a new set of leaders under the present constitution will ruin Nigeria completely. The simple way out is for the National Assembly to pass a resolution adopting the 1960/1963 Constitution with necessary amendments such as having six regions and a one-house parliament” – Legal Luminary, Afe Babalola, warning that Nigeria will collapse, if it conducts 2023 poll with current constitution.

MAHMUDJEGA VIEW FROM THE GALLERY

Sanwo-Olu Forgot the History

have seen many people writing articles to praise Lagos State Governor Babajide Sanwo-Olu for what they regarded as his “exemplary leadership” in the Magodo Phase II Estate incident. He hadtried to instruct a police officer, in the full view of reporters and television cameras, to withdraw his men from the estate, to which he had been sent by his bosses. Well, I have my doubts. That is because in Nigeria, there have been many incidents in the last 40 years which conclusively established the futility of a state governor trying to countermand the orders given to a police officer by his high command. Not just the police; the same applied to secret service officers and the military. Seven short years ago, we witnessed the running battle between then Rivers State Governor Rotimi Amaechi and the state’s Police Commissioner, Joseph Mbu. Not only did the Compol not take instructions from Amaechi, the supposed Chief Security Officer of his state, but he curtailed even the governor’s freedom of movement by preventing him from entering his own Government House through a private gate, which Mbu’s cops blocked. When five rebel PDP governors went to Port Harcourt to show solidarity to Amaechi, Mbu’s men tried to block their way and, it was said, even fired tear gas in Their Excellencies’ faces. Other governors had other complaints. Abdulaziz Yari Abubakar once said when he was Governor of Zamfara State, he received early warning from indigenous communities about planned bandit attacks on the highway. He passed such information to the Compol, he said, but nothing was done until the bandits struck at the very hour they told the communities they would do so. What was strange if a police officer disobeyed a governor, or even a collection of governors? In November 2013, the DPO of Asokoro Police Division in Abuja walked into the Kano State Governor’s Lodge, where Governor Rabi’u Musa Kwankwaso was having a meeting withfour other nPDPgovernors who were trying to defect from the ruling party. The DPO told them he had orders from above that they should disperse, their constitutional immunity from arrest and prosecution notwithstanding.Their ample security details stood idly by when the DPO walked in. Look, Speaker of the House of Representatives ranks above governors in the National Order of Precedence but in late 2014, that did not stop FCT Police Command from sealing the entrance to the National Assembly. We saw Speaker Aminu Tambuwal standing askance at the gate while a dozen House members tucked away their flowing gowns and scaled the fence. The history of policemen defying governors based upon superior police orders goes much further back. In 1983, Borno State Police Commissioner Tahir Jidda’smen stopped NPP presidential candidate Dr.

Sanwo-Olu

Nnamdi Azikiwe’s motorcade from entering Maiduguri town from the airport, even though Governor Muhammadu Goni sat beside him. When they alighted from their cars and tried to walk past the police cordon, Jidda ordered his men to use tear gas. Zik even tried to lecture the Compol on his role in the struggle for Nigeria’s independence, to no avail. Not only the police. Didn’t DSS agents storm and seal the National Assembly premisesin 2017, without the knowledge of the Acting President, for which its Director General Lawal Daura got the sack? It wasn’t the secret police’s first such action. In 1981, Kaduna State Governor Abdulkadir Balarabe Musa was in Lagos when the State Assembly impeached him. He immediately made to leave for the airport and return to Kaduna but DSS’ precursor, NSO, surrounded the Kaduna Governor’s Lodge and told him he couldn’t go to Kaduna, lest there is a breakdown of order. Balarabe then flew

to London. In 1979, the then new Governor of Kano State, Muhammadu Abubakar Rimi, told a story at a public lecture. He said when he first sat on his desk, he saw an old security report about a political event at which he was personally present. The report was totally inaccurate, Rimi said, so he called in the state NSO director and told him so. The man calmly reached out, seized the report from the governor’s hand and told Rimi he was not supposed to see it, since it preceded his tenure. It is more serious where soldiers are involved. Borno State Governor Prof Babagana Zulum cried out loud in 2020 when soldiers stopped him from entering Baga town, saying it was not safe. People had told the governor that soldiers were making brisk business in Baga’s famed fishing industry but he couldn’t get to see it. Governor Zulum has since calmed down abit because in 2020, he summoned the Theatre Commander of Operation Lafia Dole, a Lt General, and publicly dressed him down because soldiers were extorting N1,000 each from travelers who had no national identity cards. Stranded motorists cheered while Zulum berated the General. In contrast, Sanwo-Olu’s encounter with the police officer was a very gentle affair! If it is military partisanship, remember the Maiduguri Airport closure by Federal authorities in 2013/14. Governor Kashim Shettima was prevented from landing at the airport but upon orders from above, the airport opened for former governor Ali Modu Sheriff’s plane to land. A huge military contingent led by a Brigade Commander then escorted Sheriff around town for his thinly-veiled political program. When Governor Kashim Shettima told State House reporters in 2013 that Boko Haram insurgents were better armed than our military, President Jonathan responded by withdrawing the soldiers that guard the Borno governor. State House said all other governors in Nigeria were guarded by policemen, which is true, except that there was a war situation in Borno. President

In 1986, the powerful Chief M.K.O. Abiola had a rough encounter with Airforce men in Lagos. If I remember right, his motorcade brushed an Airforce vehicle and in the ensuing arguments, MKO grabbed the uniform of an Airforce man, who responded very harshly. Abiola reported the incident to his friend, Air Commodore Nura Imam. To his surprise, the Commodore took sides with his men and said if you touch a soldier’s uniform, “he reacts like a mad dog”

Jonathan even said on live television that if he withdrew soldiers, Shettima “cannot even stay in that Government House.” Soldiers operate well beyond any governor’s claim to being his state’s Chief Security Officer. This we saw in September 2020 when soldiers stopped vehicles conveying Benue State’s notorious bandit Gana and summarily executed him.Gana was on his way to Makurdi Government House, escorted by traditional rulers, in order to accept another amnesty offer by Governor Ortom. He had previously accepted Ortom’s amnesty, totally reneged on it, and was on his way to “accept” a second one. Anyway, governors and other powerful people who tangle with soldiers and policemen these days must have forgotten earlier incidents. Such as in 1987, when Sheikh Abubakar Mahmud Gummi walked into the Kaduna State Police Command premises in the wake of the Kafanchan riots, which spilled over into Kaduna. He saw several hundred young men who were arrested for rioting. They were stripped to the waist and made to lie face up, gazing at the sun. Gummi angrily told the boys to stand up. A police officer then grabbed him by the collar and threatened to shoot him if he interfered again. A year earlier, in 1986, the powerful Chief M.K.O. Abiola had a rough encounter with Airforce men in Lagos. If I remember right, his motorcade brushed an Airforce vehicle and in the ensuing arguments, MKO grabbed the uniform of an Airforce man, who responded very harshly. Abiola reported the incident to his friend, Air Commodore Nura Imam. To his surprise, the Commodore took sides with his men and said if you touch a soldier’s uniform, “he reacts like a mad dog.” Anyway, we have known since 1980 that a governor’s word counts for nothing in relation to that of a federal officer. In March 1980, President Shehu Shagari commenced his nationwide tour of states from Bendel State. NPN members in the state prepared a lavish welcome for him, so two days before Shagari arrived, UPN Governor Prof Ambrose Alli clamped a ban on rallies and processions. When Shagari arrived Benin Airport, the state NPN chairman whispered to Minister of Police Affairs Prof Emmanuel Sunday Osamor [also a Bendelite] that police had stopped NPN’s dancing troupes at the airport gate. Osamor whispered something to the Compol, the gates swung open, and thousands of NPN supporters swarmed the airport and even the tarmac. At the state dinner that evening, Alli angrily complained that his powers as chief security officer were brushed aside. In his reply, President Shagari said, “Governor, you and I should concentrate on governance and leave politics to the politicians.” In other words, Governor Babajide Sanwo-Olu shouldleave the Magodo matter to residents, litigants, lawyers, judges and policemen and concentrate on governance.

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