THURSDAY 11TH JANUARY 2024 by THISDAY Newspapers Ltd

Otedola Donates N1bn to Lagos Security Trust Fund, Says Donation to Enhance Security of Residents Billionaire insists best inheritance for his children, next generation is safe, prosperous Lagos Sanwo-Olu says donor's gesture testimonial for others Segun James and Peter Uzoho The Chairman of Geregu Power Plc and a Non-Executive Director

of FBN Holdings, billionaire and philanthropist, Mr. Femi Otedola, yesterday, donated N1 billion to the Lagos State Security Trust Fund

in support of the agency's role of strengthening the state's security architecture. It is also intended to improve

the security of lives and property of the South-west State. At the official presentation ceremony held at the Governor's

Marina House, Lagos, Otedola, who was represented by his daughter, Ms. Tolani Otedola, said the donation was to ensure

the continuity of the critical work being done by the Fund. Continued on page 9

Zenith Bank, Jaiz Debunk Alleged Arrest of Their MDs by EFCC... Page 6 Thursday 11 January, 2024 Vol 28. No 10501. Price: N400

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Aliyu: I’ll Appear in Court to Prosecute Corruption Cases If Need Be Kingsley Nwezeh in Abuja

L-R: Mr. Akin Ogunranti, Executive Director, Zenith Bank Plc; Dr. Ebenezer Onyeagwu, Group Managing Director/CEO, Zenith Bank Plc; James Christoﬀ, High Commissioner of Canada in Nigeria; Mr. Henry Oroh, Executive Director; and Mrs. Adobi Nwapa, Executive Director, during their condolence visit to the Canadian High Commissioner in Victoria Island, Lagos, on January 10, 2024, following the passing of the Deputy High Commissioner of Canada in Nigeria, C.J. Scott.

To demonstrate his determination to fight the menace of corruption in the country, Chairman of the Continued on page 9

CBN Sacks Boards, Mgts of 3 Banks, Appoints New Executives Silent on nationalisation Cites infraction of section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act (BOFIA) 2020, suggesting threat to financial stability Assures public of safety and security of depositors' funds James Emejo in Abuja and Nume Ekeghe in Lagos The Central Bank of Nigeria (CBN) yesterday in a terse statement announced the dissolution of the boards and management of Union, Keystone and Polaris Banks. The central bank said the action became necessary due to the noncompliance of the aforementioned banks and their respective boards with the provisions of Section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act (BOFIA) 2020., suggesting threat to financial stability of the system. The apex bank was however silent on the recommendation by the Special Investigator, Jim Obazee appointed by President Bola Ahmed Tinubu to probe CBN, under the former Central Bank Governor, Godwin Emefiele, that the banks be forfeited to the federal government. However, last night, the apex Continued on page 9

OTEDOLA DOLES OUT N1BN TO LAGOS FOR SECURITY... L-R: Executive Secretary/CEO, Lagos State Security Trust Fund (LSSTF), Dr. Abdurrazaq Balogun; Board Chairman, LSSTF, Mr. Kehinde Durosinmi-Etti; Director, Geregu Power Plc, Ms. Olawunmi Otedola; Governor of Lagos State, Mr. Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat and the Attorney General/Commissioner for Justice, Mr. Lawal Pedro, SAN, during an oﬃcial presentation of one billion naira cheque to LSSTF, at the Lagos House, Marina ... yesterday

THURSDAY JANUARY 11, 2024 • T H I S D AY

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PRESENTATION OF DOCUMENT ON E-MOBILITY IN NORTH-EAST... L-R United Nations Special Representative, Mrs Damilola Ogunbiyi; Vice President Senator Kashim Shettima; President Bola Ahmed Tinubu; and Chief of Staﬀ to the President, Hon. Femi Gbajabiamila during meeting with PHOTO: GODWIN OMOIGUI United Nations Special Representative for Sustainable Energy for all and Presentation of Document on E-Mobility in North-East Nigeria at the Presidential Villa in Abuja ... yesterday .

Amid Headwinds, Customs Records Historic N3.20tn Revenue in 2023 Adeniyi: FG granted N2tn tax concessions, service missed target by N478bn, vows to meet, surpass N5.079tn mark in 2024 Hints on bottlenecks, calls for transparent tax waiver regime Confiscates contraband worth N16.05 billion James Emejo ÓØ ÌßÔË The Comptroller-General of Customs (CGC), Mr. Bashir Adeniyi, yesterday, said the Nigeria Customs Service (NCS) generated an unprecedented N3.20 trillion revenue in 2023. The performance represented a 21.4 per cent increase compared to N2.64 trillion recorded in the preceding year, but fell short of the N3.68 trillion target for the year by N478 billion in the review period. Speaking at a media briefing in Abuja, Adeniyi, however, pointed out that the growth aligned with the Customs’ consistent upward trajectory as evidenced by a 17.88 per cent revenue increase in 2022, adding that the, “consecutive expansion in revenue underscores the service's sustained efforts in optimising revenue collection for the federal government.” He said the year was marked by operational challenges including lower transaction volumes, compliance issues, inadequate infrastructure, and capacity gaps - compounded by delays in policy implementation and socio-political factors. Among other things, he added that the anxiety associated with a major election year, prolonged cash crunch linked with the Naira redesign programme of the Central Bank of Nigeria (CBN) which temporarily impacted purchasing power and economic activities, further hampered revenue performance last year. He said the transition of power to the President Bola Tinubu-led administration which brought about a new policy direction, including the

removal of fuel subsidy, the floating of the exchange rate, and the closure of the country’s Northern borders with Niger Republic, further added to the complexity of the operating environment for the service. The CGC said these challenges led to a revenue shortfall of N532 billion compared to the N1.84 trillion target in the first half of 2023. Nonetheless, Adeniyi, noted that following his appointment as CGC in July last year, as well as merit-based reconstitution of the customs management team, there was a significant shift that enabled the service to exceed monthly revenue targets by 6.71 per cent for the first time in 2023. He said improved revenue collection in the second half of the year played a crucial role in significantly reducing the revenue shortfall by 10 per cent from N532 billion to N478 billion by year-end. According to him, monthly revenue collection for the latter half of the year averaged N332.9 billion, a substantial increase from the initial N201.7 billion recorded in H1 2023. He specifically attributed the positive trend to strategic measures, including the immediate establishment of a Revenue Review Recovery Team and the dissolution of existing Strike Force Teams, and streamlining enforcement under the Federal Operations Unit (FOU). He also blamed the deficit in revenue collection on deliberate government initiatives and incentives designed to foster the growth of various sectors within the economy. Specifically, he said the government

approved concessions worth N2 trillion, incorporating select dutiable items under the new tariff heading Chapter 99. Adeniyi said, “This policy shift resulted in the exemption of duty payments on certain dutiable goods, previously falling within a duty range of five per cent to 10 per cent. “The overarching objective of these granted waivers and concessions was twofold - to stimulate development across diverse economic sectors and to bolster the nation's overall peace and security.” Adeniyi, however, called for a review of the tax waiver system to make it more transparent and

for the benefit of the economy. He also said the Service sustained its vigorous campaign against smuggling and illicit trade, which resulted in 3,806 seizures with a duty paid value totaling N16.05 billion. He said the confiscations included a diverse array of contraband, namely arms and ammunition, artifacts and antiquities, illicit drugs, expired food produce, and endangered species of flora and fauna. Adeniyi said customs also achieved 52 convictions, with 11 specifically linked to the illicit trade in animal/ wildlife. He said, “Noteworthy is the international acknowledgment

The Centre for Consumer Concern Initiative (CCCI), a leading civic organisation dedicated to consumer protection, fair, and safe marketplace in Nigeria, has noted with unease the removal of Mr. Babatunde Irukera as Executive Vice- Chairman of the Federal Competition and Consumer Protection Council (FCCPC). In a statement issued in Osogbo yesterday by the Director of Communication and Publicity of the Centre, Fola Ademosu, it noted that the CCCI had collaborated with FCCPC on various occasions

during Irukera’s tenure, resulting in significant initiatives. "One of such initiatives is the sustained advocacy for responsible borrowing and lending, done jointly by CCCI and the consultancy firm Consumertrics with the aim to protect borrowers against the unethical recovery tactics employed by loan sharks. "As stakeholders in the consumer space, we state unequivocally that Irukera’s tenure at the FCCPC was marked by impactful actions and undeniable accomplishments. "We respect President Bola Tinubu’s right to select persons

service's important role in contributing to the nation's fiscal wellbeing. “The strategic initiatives detailed above, alongside other operational reforms, are anticipated to play a crucial role in achieving this revenue goal. “As the NCS addresses the challenges and opportunities in 2024, the service is steadfast in its commitment to implementing these strategies and exploring practical approaches to meet the heightened revenue target. This commitment aligns with the NCS's ongoing dedication to efficiency, excellence, and positive contributions to Nigeria's economic landscape.”

2024 Hajj: NAHCON Seeks Export of Rams, Manpower to Saudi Arabia Tinubu approves 12-man management board for Hajj commission Deji Elumoye ËØÎ Olawale Ajimotokan ÓØ ÌßÔË The National Hajj Commission of Nigeria (NAHCON) has requested the Islamic Development Bank (IsDB) to open a market for Nigeria to export sacrificial animals as well as the engagement of Nigeria’s skilled manpower such as veterinary doctors and manual labourers to offer services during Hajj 2024, especially under Hadaya. The Chairman of NAHCON,

Mallam Jalal Arabi tabled the request yesterday during his visit to the bank. A statement by NAHCON spokesperson, Fatima Usara added that Arabi, also sought for consolidation of the relationship established with the Islamic development bank. He expressed gratitude to the Vice President of Operations, IsDB, Dr Mansur Mukhtar, for the technical assistance that NAHCON received in 2019 that facilitated an understudy and establishment of

Group Decries Removal of Irukera as FCCPC Boss Yinka Kolawole ÓØ ÝÙÑÌÙ

garnered for the Service's efforts in combating this illicit trade in animal/ wildlife. This steadfast commitment underscores the NCS's dedication to protecting Nigerian society, maintaining a resolute stance against smugglers, and diligently dismantling their operations.” However, the CGC said the service remained committed to facilitating the achievement of the newly set revenue target of N5.079 trillion which is aligned with the government's economic objectives for 2024. He said, “This target signifies the government's confidence in the NCS's capabilities and underscores the

with whom he feels comfortable, but we object to the word ‘dismissal’ used in the statement announcing Irukera’s removal from the position. "We choose to view his exit as an action by a new government replacing leftover appointees of his predecessor with his, a common practice in our political space," the group said. It stated that Irukera was leaving the FCCPC better than he met it, but said it was concerned that his unceremonious removal might deter other technocrats from offering their expertise. “It is evident with the development that their hard earned reputation

and contributions would someday be rubbished on altar of cronyism and favouritism. "CCCI is proud of Irukera’s achievements and wish him well in his future endeavours. At the same time, we urge the federal government not to delay in appointing a capable successor, as we declare our readiness to continue to engage the FCCPC," it added. As an organisation, the group said it remained committed to advocating for safe products, reliable services, promoting customer satisfaction and inspiring in consumers the knowledge to make informed choices.

the Hajj Savings Scheme and the Hajj Institute of Nigeria. Also the NAHCON chairman continued to scout and assess alternative service providers to involve in serving Nigerian pilgrims where necessary by visiting other pilgrims’ Mutawwif Establishments to understudy the services available in their packages. The Saudi Ministry of Hajj and Umrah had created windows for countries to select Pilgrims’ Establishment Mutawwif Companies of their choice as a way of encouraging competition favourable to pilgrims. He interacted with the Mashariq Mutawwif Establishment in this regard. Earlier, he consulted with the Deputy Minister of Hajj in charge of Umrah and Ziyara in Madina, Dr Abdulrahman Bejawi, where he sought commitment on issues concerning the welfare of Nigerian pilgrims as well as the safety of their property. The NAHCON chairman equally accepted the Makkah Route project where Nigeria is among the seven countries offered the services. Bejawi said over 30 countries had shown interest in the initiative. Meanwhile, President Bola Tinubu has approved the appointment of a 12-man board and

management team for NAHCON, pending confirmation by the Nigerian Senate. The president, in his resolve to ensure hitch-free and seamless 2024 Hajj operations, also renewed the appointment of Jalal Arabi as Chairman of the new Board. Other members of the NAHCON board, according to a statement issued on yesterday by presidential spokesperson, Ajuri Ngelale, include Aliu Abdulrazaq, Commissioner, Policy, Personnel, & Finance; Prince Anofi Elegushi, Commissioner, Operations and Prof Abubakar Yagawal Commissioner, Planning & Research. The zonal representatives include: Dr. Muhammad Umaru Ndagi, North Central; Abba Jato Kala, North East; Sheikh Muhammad Bin Othman, North West and Tajudeen Oladejo Abefe, South West. Others are Aishat Obi Ahmed, South East; Zainab Musa, South South; Professor Musa Inuwa Fodio, Jama'atul Nasril Islam and Professor Adedimeji Mahfouz Adebola, Supreme Council on Islamic Affairs. The president mandated the appointees to dedicate themselves to the task of ensuring that operations of the National Hajj Commission are more efficient, transparent, and responsive to the needs of Nigerians.

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FOSTERING COLLABORATION... Founder, Agora Policy, Mr Waziri Adio and Special Adviser to the President on Policy and Coordination, Hajia Hadiza Bala Usman, after a meeting on fostering collaboration between the Think Tank and the Special Adviser's oﬃce in Abuja ... yesterday

Zenith Bank, Jaiz Debunk Alleged Arrest of Their MDs by EFCC Nume Ekeghe Zenith Bank Plc has rejected news making the rounds on social media and some online news outlets alleging the arrest of its Group Managing Director/Chief Executive Officer, Dr. Ebenezer Onyeagwu, by the Economic and Financial Crimes Commission (EFCC) over the matter involving the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta

Edu. Similarly, Jaiz Bank in reaction to news published by some online newspapers explained that its Managing Director/ Chief Executive Officer was never arrested over the matter. On Tuesday, news had circulated that the anti-graft agency had arrested the executives of Zenith Bank, Jaiz and Providus Bank, concerning the ongoing investigation of Edu. However, Zenith Bank in a

statement signed by its Company Secretary/General Counsel, Michael Otu, vehemently debunked the news as false, stating that the bank was dedicated to upholding the highest standards of banking and financial services Otu stated: “We have become aware of inaccurate reports circulating on social media and certain news outlets alleging that Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief

Executive Officer of Zenith Bank Plc, was arrested and held by the EFCC on January 9, 2024, in connection with an alleged fraud at the Federal Ministry of Humanitarian Affairs and Poverty Alleviation. “We wish to clarify that these reports are entirely false. The Group Managing Director was not arrested or detained by the EFCC or any other anti-graft agency and is currently fulfilling his duties at the bank.

Gbajabiamila Exonerates NLRC from Remittance Failure, Faults Valuation of Lottery Industry Ugo Aliogo The National Lottery Regulatory Commission (NLRC) has clarified that it has not failed to remit any fund due to the federation account, contrary to the reports on misappropriation of funds allegedly linked to it. In a statement, it also clarified as false, the trillions of naira valuation of the Nigerian lottery industry, saying that it was unfounded, sensational and attention seeking rather than truth. The Director General of the NLRC, Mr. Lanre Gbajabiamila, made the clarifications against the backdrop of reports and statements involving Nigerian Lottery Trust Fund (NLTF) allegedly linked to the commission. He said: “Let me be unequivocal in stating that the NLRC disassociates itself from the recent false claims erroneously or deliberately linking us to alleged fund misappropriation by the NLTF. “Furthermore, we must clarify that the trillions of Naira the NLTF is purportedly asserting as the Nigerian lottery industry valuation are unfounded and merely sensationalist, seeking attention rather than truth. “The assertion becomes even more ridiculous when juxtaposed with the current GDP. Moreover, the NLTF is neither the regulator nor custodian of lottery figures

in Nigeria.” The text of the Gbajabiamila’s clarifications read in part: “The NLRC has become aware of a misleading report circulating on social media regarding a video from the National Assembly Committee on Finance interrogating an agency. “This report falsely alleges that the Commission ‘Generated N6.3 billion in 2022 but remitted Zero Naira, with a deficit of N252 million while fully funded by the Federal Government.’ “It is imperative to clarify that this report does not pertain to the NLRC. This deliberate dissemination of misinformation threatens the reputation and trustworthiness of the Nigerian lottery sector and the credibility of the NLRC itself. “Our bedrock of trust and credibility, which we have painstakingly built over the years, is eroded by these deliberate attempts to mislead, and we are deeply troubled by this. “Let me be unequivocal in stating that the NLRC disassociates itself from the recent false claims erroneously or deliberately linking us to alleged fund misappropriation by the Nigerian Lottery Trust Fund (NLTF). “The House of Representatives Committee on Finance quizzed the NLTF on the mentioned day. However, confusion arose when the Nigeria Television Authority (NTA)

and Channels Television mistakenly referenced the NLRC instead of the intended entity, the NLTF, in their reports. Both media agencies promptly issued an apology to the NLRC for this error. “Unfortunately, some individuals with malicious intent are taking advantage of this mistake to involve the Commission in an unrelated matter. “Furthermore, we must clarify that the trillions of Naira the NLTF is purportedly asserting as the Nigerian lottery industry valuation are unfounded and merely sensationalist, seeking attention rather than truth. “The assertion becomes even more ridiculous when juxtaposed with the current GDP. Moreover, the NLTF is neither the regulator nor custodian of lottery figures in Nigeria. “The much-needed Central Monitoring System (CMS), which the NLRC will deploy to monitor all lottery activities in the country and provide an accurate figure of the worth and revenue generation, has not taken off yet. “So, it will be misleading to project and brandish unverified numbers in this regard. These baseless assertions distort reality and cast an unwarranted shadow on the NLRC’s unwavering commitment to transparency and fairness. “Such misleading information demands decisive action to

rectify the damaging narratives that threaten the very integrity of our industry. “In light of this, the NLRC will rebuff any attempts of entanglement in matters outside its purview. Therefore, this statement aims to unequivocally set the record straight that the NLRC was not the agency scrutinised by the NASS Committee on Finance.”

“We are issuing this public statement to dispel the misinformation and ensure that the public and our stakeholders are accurately informed.Zenith Bank remains dedicated to upholding the highest standards of banking and financial services.” Relatedly, Jaiz Bank stated that its officials honored an invitation by the EFCC to provide documents to aid EFCC’s investigation of the Ministry. The bank in a statement signed by its management noted last year, that they were selected by the Ministry as a participating financial institution for the various intervention programs of the federal government, but was yet to receive any funds into its bank from the Ministry. It stated: “The attention of Jaiz Bank Plc has been drawn to headlines in some sections of the media particularly social media platforms insinuating that some banks’ MDs including that of Jaiz have been arrested by the EFCC. “The bank would like to place on record that Jaiz Bank at the

request of the EFCC has submitted some documents relating to accounts opened by the Ministry of Humanitarian Affairs and Poverty Alleviation to help the agency in its investigations of the activities of the Ministry. The interaction was very cordial and Jaiz Bank MD immediately resumed back to his duties. “It’s instructive to state that Jaiz Bank in October 2023 was among the financial institutions that were selected by the Ministry as a participating financial institution for the various intervention programs of the Federal Government of Nigeria after a competitive bid, in line with the FGN procurement act. “The Bank was formerly instructed to open a project account by the Ministry but is yet to receive any funding into the account.” Jaiz Bank further added that it remained committed to contributing to the growth and development of the Nigerian economy through the provision of alternative financing options in an ethical and professional manner.

Bayelsa Fishing Community Raises Alarm Over Oil Spill Olusegun Samuel in Yenagoa Foropa, a fishing community along the Atlantic coastline in Southern Ijaw Local Government Area of Bayelsa has raised the alarm concerning a ‘mystery’ oil spill that has left the coastline polluted. Mystery spills refer to crude oil leaks from unknown sources where there are many oil firms operating near each other. According to a January 8 notification letter signed by Olabai Olozulu, traditional ruler of Foropa, Middleton, the oil leak at the coastline was noticed on January 3. The letter was addressed to the Head of Bayelsa Office of the National Oil Spills Detection and Response Agency (NOSDRA) in

Yenagoa, Bayelsa capital. The letter stated that six oil firms operate within Foropa vicinity in Southern Ijaw LGA, including First E & P, Conoil Exploration, NEPL, Shell and Nigdel United Oil Company. The community urged the regulatory agency and other government organs to trace the source of the spill and mitigate its impact on the predominantly fishing settlement and urged the oil firms to mobilise relief materials to reduce the sufferings of the people. Head of NOSDRA in Bayelsa, Mr Chukwuemeka Iheanacho, confirmed that the agency was in receipt of the report and was planning a joint visit to the impacted site with all the oil companies operating in the area.

Iheanachor said a ‘fingerprinting’ analysis of the crude samples from the site would reveal the operator whose facility discharged the crude into the environment. “We are planning a Joint Investigation visit by next Tuesday. I am writing to all the operators within the area to send their representatives because samples will be collected for fingerprinting,” Iheanacho said. Chairman of Community Development Committee (CDC) in Foropa, Mr Darius Sese, who spoke in a telephone chat yesterday, noted that the incident has adversely impacted fishing in the area. He said that fishermen no longer make any catch since the spill occurred as fishes have migrated deeper into the Atlantic waters away from the coastline.

THURSDAY JANUARY 11, 2024 • T H I S D AY

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NLC'S WORKING VISIT TO MINISTRY OF LABOUR... L-R; Vice President, Nigeria Labour Congress (NLC), Comrade Benjamin Anthony; President NLC, Joe Ajaero; Minister of state for Labour and Employment, Nkeiruka Onyejeocha; with Director Overseeing the Oﬃce of Permanent Secretary, Ministry of Labour, Dr. Chris Amadi, during a working visit to Ministry of Labour House in Abuja... yesterday

Airtel CEO: Tinubu's FX Policy Making Planning Easier Reveals network provider planning to build best data centre in Nigeria Deji Elumoye in Abuja The Chief Executive Officer of Airtel Africa, Segun Ogunsanya, has declared that President Bola Tinubu government's foreign exchange (FX) policy has made planning easier for businesses in the country. He also revealed that the network provider's planned data center would be one of the largest data center in Africa; and would serve all the multinationals in the country. The Airtel boss made this known while speaking with newsmen after meeting with the President at the State House, Abuja, yesterday. Commenting on the President's policy since he took over power on May 29, 2023, Ogunsanya said, "we had massive issues with liquidity FX; we still have some issues with FX liquidity, but at least slightly more predictable than it was a couple of months ago. It makes it easier for us to do better planning.

"We're not out of the woods yet, but we can see light at the end of the tunnel." The Airtel chief, who said he was billed to retire in six months, also stated that his company was

planning to set up a data center in the country. According to him, "The data center will be one of the largest data center in Africa; it is going to serve all the multinationals in the country.

The Bauchi state government has solicited the support of the Tertiary Education Trust Fund (TETFund), for its state-owned institutions to train technical manpower in agriculture, oil and gas as well as other fields critical to national development. Governor of the state, Bala Mohammed, who made the appeal during a visit to TETFund in Abuja, stressed the importance of human capital development in confronting the challenges of underdevelopment, poverty and unemployment. He said that the state required support for its newly-established College of Education (Technical) as well as intervention in vocational training, where artisans like craftsmen, bricklayers and welders would be trained. According to him, the college of education will train agricultural officers that will in turn teach the people of the state on how to farm, plant and raise productivity. “The Bauchi state government has provided infrastructure in the state university worth over N3 billion to ensure the institution

we've got the consultants, and we're going to break ground very soon." Asked what Tinubu told him during the meeting, he said, "the President said Nigerians should expect the best from this govern-

ment." On the challenges facing the company, Ogunsanya said, "there are some challenges we are working on. What I think, there is going to be light at the end of the tunnel."

Nigeria, Saudi Arabia Seek Collaboration on Mining Sector Devt Folalumi Alaran in Abuja Nigeria and the Kingdom of Saudi Arabia have resolved to strengthen collaboration between both countries to enhance the development of solid minerals as the world transitions from fossil fuels to cleaner energy. The countries made the commitment during a meeting on the sidelines of the Future Minerals Forum (FMF) holding in Riyadh, Saudi Arabia. The Minister of Solid Minerals Development, Dele Alake

and his Saudi Arabian counterpart, Bandar AlKhorayef, led the delegations of both countries to the bilateral meeting. In his remarks, Alake harped on the need to forge partnership, emphasising that the global energy transition was contingent on critical minerals, which he stated exist in abundance in Nigeria. “We need a lot of investments in exploration, exploitation, extraction, processing, local value addition. We realise that we must look at regions

Bauchi Wants TETFund’s Technical Support to Grow Manpower Kuni Tyessi in Abuja

“So it's going to serve some of the Foreign countries. Certainly it is going to be one of the largest in Africa. "Though Airtel is yet to do final budgeting but we've got the land;

has good roads, water and other amenities. We need a lot of assistance from you immediately to put our educational sector on the phase of prosperity and growth. “And we have really established the institutional framework, the policy thrust and the big political will to be able to leapfrog the area of education so that we can be producing our own human capital need and even export labour. “We want to have technicians, some labour that is required in the field. In the agricultural field, we want people that will be teaching our farmers what to do, in terms of what to do during farming season and so on. “And so, we need your support because you did not know about the establishment of this new technical institution, but for our state university, our colleges of education and others you have done so much,” he said. Speaking on the exodus of health workers to other countries, Mohammed noted that if Nigerian doctors and teachers were needed abroad, the country should expand its training capacity for such manpower to be used locally and for

the purpose of exporting them. “Go by what they want and produce more and be exporting and getting repatriation of monies coming back not only to Bauchi, but to the states. “And that’s why we’re repositioning our schools of nursing health technology and university to produce more doctors, since we are found to be competent. “I think we should not be crying over spilled milk, the more they need the more we should produce for our national need and their need and we need your support in that as well,” he said. Responding, the Executive Secretary of TETFund, Sonny Echono, lauded the state government’s effort to invest in education, while pledging the fund’s support for the newly established college of education and efforts to train technical manpower. Echono stressed the importance of the college, saying that finding teachers on technical subject at the basic level was a challenge. He added that the teachers and technicians produced in the institution would not be only for Bauchi, but the entire region.

outside of Africa to collaborate, further consolidate, and enhance our capacity in exploring and exploiting the natural resources that we have. “For us to maximally utilise, exploit, and derive maximum revenue for our own economic and infrastructural development, we need to have a very solid partnership with nations like Saudi Arabia. “Saudi Arabia has always displayed good affinity to Nigeria, and it is historical. We have always been desirous of reciprocating this very positive gesture, and there is no better area to ensure that reciprocity than to ensure we consolidate on our partnerships in areas of economic development. “We are willing and open to investments in Nigeria, especially in the mining sector,” the minister asserted. Speaking further, Alake made a case for investment in local valueaddition involving processing of

solid minerals that will culminate in production and establishment of factories in Nigeria. He noted that this will generate employment and have a multiplier effect on the economy. He emphasised the readiness of the Nigerian team to work with the Saudi Arabian counterpart to fine-tune specifics and map out strategies to concretise areas of collaboration within a specified time frame. Throwing light on incentives for investment, Alake cited a policy of President Bola Tinubu on repatriation of profits by foreign investors, tax waivers on imported equipment specifically directed at the mining sector and a rejigged security architecture which he hinted will soon come on stream. In his response, AlKhorayef shared the position of Nigeria on the fundamentals of diversifying the economy with emphasis on the mining sector. He revealed that Saudi Arabia also places a

premium on local value addition whilst welcoming collaboration with Nigeria. Both countries thereafter resolved to set up a joint technical committee to follow through in areas of partnership coupled with a workable action plan, guided by timelines, to harness areas of comparative advantage for mining sector development. On the Nigerian delegation were Executive Secretary, Solid Minerals Development Fund (SMDF), Fatima Shinkafi; Director-General, Mining Cadastral Office (MCO), Dr. Obadiah Nkom and DG, Nigeria Geological Survey Agency (NGSA), Dr. Abdulrasak Garba. Others were: The Director, Investments Promotion and Mineral Trade (IPMT), Ime Erikpo while the Minister of Industry and Mineral Resources, Bandar AlKhorayef; Vice-Minister, Mining Affairs, Khaled AlMudifer and other government officials represented the Kingdom of Saudi Arabia.

ITF Launches Skills Upgrade Programme for 20m Artisans Folalumi Alaran in Abuja The Industrial Training Fund (ITF) has unveiled the Skill Up Artisan (SUPA) programme, designed to upgrade about 20 million Nigerian artisans to international standards as well as eliminate quackery. The ITF Director General, Afiz Oluwatoyin, made the disclosure during a stakeholders’ meeting with designated trade associations, in Abuja. Oluwatoyin explained that SUPA was part of the federal government's renewed hope agenda, aiming to elevate Nigerian artisans to interna-

tional standards and eliminate quackery. He underscored the need to transform the perception of Nigerian artisans, positioning them as highly skilled professionals deserving of respect and competitive pay. “ The strategic plan, involves the categorisation and training of artisans in both ITF and private training centres. The ambitious goal is to upskill 5 million artisans annually, culminating in a total of 20 million skilled artisans in four years. “ The programme's global impact, already have partnerships in advanced stages with countries

like Germany and the United Arab Emirates,” he added. Speaking on behalf of the trade unions, a representative of motor technicians, Oseni Suleiman, expressed optimism about the programme, emphasising the importance of unity among associations for effective regulation. He applauded the focus on creating "super skilled artisans" and assured collaboration and support from the trade unions. However, Suleiman raised concerns about the free registration, questioning the monitoring process once there is a massive influx of artisans.

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Okoh: I'm Delighted My Mode of Exit from BPE Has Been Clariﬁed

Ndubuisi Francis ÓØ ÌßÔË

The immediate-past Director General (DG), Bureau of Public Enterprises (BPE), Mr. Alex Okoh, has expressed delight over the clarification by the Presidency on the mode of his exit from the privatisation agency. The Presidency on Monday, had announced that Okoh and the Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Tunde

Irukera, were dismissed. The statement conveying their removal was titled, "President Tinubu Dismisses Two Chief Executive Officers," and signed by Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale. Following public concerns on why the word 'dismissed' was used in characterising the removal of the two former chief executives of the federal agencies, the Presidency, about 24 hours later, retracted the word 'dismissed', saying they were instead

'relieved' of their appointments. Reacting to the retraction, Okoh in a post on his Facebook page yesterday, said he was initially quite disturbed by the tone of his removal, but delighted that the mode of the exit has now been clarified to remove any connotation on his integrity. The post read: "Dear Friends, on Monday 8th January, 2024 my attention was called by a friend, to a news item about the decision of Mr. President with regard to my

exit from the Bureau of Public Enterprises. “I was initially quite disturbed by the tone of the news publication, but delighted that the mode of the exit has now been clarified to remove any connotation on my integrity. "Please permit to say that it has been an incredible experience working in government for the past six years and eight months. "I’m grateful for the opportunity to serve my country in the space of privatisation and economic reforms.

I thank the extremely professional young men and women at the Bureau of Public Enterprises for their commitment to the ideals of efficient optimisation of public assets and Government Owned Enterprises. "I am certain that posterity will deliver a decent verdict on the various projects and reforms that we delivered across key sectors of the economy, and more importantly on the high sense of integrity with which they were delivered."

Alex Okoh He expressed gratitude to God for the opportunity, adding that he was elated to have served the nation without blemish.

OTEDOLA DONATES N1BN TO LAGOS SECURITY TRUST FUND, SAYS DONATION TO ENHANCE SECURITY OF RESIDENTS He stated that the latest donation made him the highest individual donor to the Fund. Otedola, insisted that the best inheritance he has for his children and the next generation was a safe and prosperous Lagos. He acknowledged the Lagos State Security Trust Fund as a public-private partnership established to provide equipment, training, and logistics to the police and other security agencies working in Lagos State, saying they have performed the role for 17 years. "My father has taken an interest in this Fund since its inception and has from time to time made contributions to it. Over the years the Fund has continued to live up to its mandate and has remained very relevant in the security

architecture of Lagos State. "This is why my father has decided to commit another donation of 1 billion naira to the Fund to ensure the continuity of the critical work being done by the Fund, making him the highest individual donor to the Fund," Tolani stated. She noted that Lagos State was one of the few States in Nigeria where people move around freely without much worry about security, even in the dead of night. In fact, Tolani admitted that there was no notable security breach recorded during the last Christmas and New Year celebrations with all the shows and funfair that accompanied them. While thanking the gallant men and women of the security services

for their good work, she stressed the need to recognise the role of the Lagos State Security Trust Fund in enabling the security agents in their jobs. Tolani further said, "My father believes that when well-meaning Lagos residents contribute to this type of effort, Lagos will be safer, and we all will be more prosperous. “He, therefore, encourages all residents of Lagos, especially the corporate Lagos and high net worth individuals, to take a moment to reflect on the significance of donating to the Fund and then make that decision to contribute also regardless of size, as every donation has the power to create ripples of change. "In conclusion, I want to thank Mr. Governor, and the Lagos State

Security Trust Fund in particular, for their hard work in keeping Lagos State safe. At the same time, I advise the Fund to continue in its culture of transparency and judicious use of resources. Responding, Lagos State Governor, Mr. Babajide Sanwo-Olu, who thanked Otedola for his continuous support to the Fund, said the donation was extremely important as they would use it as a testimonial for others to emulate. The governor, who used the occasion to extend compliments to the Otedolas and wished them a prosperous new year, profusely thanked the billionaire businessman for recognising the work done by the Security Trust Fund in the last 17 years. Sanwo-Olu also appreciated

ALIYU: I’LL APPEAR IN COURT TO PROSECUTE CORRUPTION CASES IF NEED BE Independent Corrupt Practices and Other Related Offences Commission (ICPC), Musa Aliyu (SAN), declared yesterday that he would personally appear in court to prosecute fraud cases if necessary. Aliyu made the assertion in Abuja at his first media parley since assumption of office as ICPC chairman. He said events of the last 72 hours showed President Bola Tinubu was ready to fight corruption, and vowed to lead the fight against sleaze from the front. The ICPC head affirmed his determination to adopt innovative approaches to fighting graft, including digitalising the commission. Aliyu stated, “I will lead from the front and in the area of prosecution, by the grace of God, I intend to be appearing in cases. I feel as chairman of the commission, I should lead from the front. “Whenever we have cases and we feel I need to take the lead, I will do so to ensure that we fulfil our mandate. I don’t think there has ever been an ICPC chairman, who has appeared in court. I will be the first.” He said he would lay emphasis

on the use of technology in the fight against corruption by digitalising ICPC operations in order to make the agency more efficient. On adoption of technology in the fight against corruption, Aliyu said, “Innovation is key in our ongoing battle against corruption. We are in an era, where technology has revolutionised the way we live and work. "As such, the ICPC is committed to integrating innovative approaches and cutting-edge technology into our operational framework. "From leveraging data analytics for efficient resource management to employing advanced digital tools for effective corruption detection, technology will be at the forefront of our strategies.” Aliyu stated that he would collaborate with other anti-graft agencies and other stakeholders, like the media, civil society, the private sector, and international partners to pool perspectives, expertise, and resources in the fight against corruption. He said, “The fight against corruption demands a collaborative, multi-sectoral approach, transcending

the capabilities of any single entity. “As the new chairman of the ICPC, a key focus of my tenure will be to foster such collaboration, recognising that corruption’s multifaceted nature affects every level of society. Our strategy involves engaging diverse stakeholders." Responding to questions on what he would do differently from his predecessors, he said he would ensure improved interagency collaboration. According to Aliyu, "My predecessors tried. I will look at what they did and improve upon it. My focus will be technology. I will ensure that the ICPC is digitalised. I want to mobilise the youth to join the fight against corruption. "I want to ensure inter-agency collaboration. You saw what happened yesterday (visit to EFCC chair). In terms of corruption, I want to be appearing in cases. “Where we need to appear, I will take the lead. I don't think there is any ICPC chair, who appeared in court. I also want to make a mark as the chair, who deployed technology in a unique way." Aliyu stated further, "My focus

will be enforcement prevention and public enlightenment and education. I want to engage Nigerian law school. They produce 5, 000 lawyers yearly and lawyers are very critical in the fight against corruption. I will engage them." He pledged to improve law enforcement, saying, "In my opinion, we need to discharge our mandate and for what is right. We try as much as possible to improve in the area of law enforcement and do what is right.” Aliyu said collaboration was key in the area of manpower development in aid of the anti-corruption fight. "I was in EFCC yesterday because we need to work together. Once we can collaborate we can solve the manpower issues," he said. He also expressed his determination to engage rural Nigerians, saying, "We will use radio and social media to reach the rural areas." On whether he would have the courage to probe the powers that be, Aliyu said events of the last 72 hours had said so. "You have seen what happened in the last 72 hours. Mr President is ready to fight corruption," he said.

Otedola for being a great supporter of the Fund right from the inception, adding that such kind of support encourage them to continue to protect the state as a government. "So we want to thank you. We want to thank your dad. We want to send our best wishes to him. We want to say to him that where this has come from, that a lot more will come. “Businesses will flourish and grow well this year. And we should also knock some of his own very wealthy friends as well, that you are not my friend if you have not gone to do the rightful thing," Sanwo-Olu stated. He said the government felt enthused for setting the right business and economic environment. He revealed that the last December into the new year would rank as one of the most active movement of diaspora population, tourist engagement and a lot of social economic activity in the state with just pockets of security breaches, which were surmounted. However, for being able to surmount an eventful period such as the last yuletide, he said everyone needed to be commended. He said particular commendation needed to be given to men and women of the Nigerian Police and the Lagos Police Command, who have conscious and generous capacity to continue to protect the citizens and whom the Fund had been set up to continue to support, encourage, and assist the security agents. The governor also remarked that the support from the Otedolas was a right and proper thing to do, explaining that with such support, they were creating an atmosphere that would allow people to live peacefully and happily in the state. In addition, the governor said through such supports as given by Otedola, economic benefits were being created into the communities, with safer environment, and improved opportunity.

He encouraged other Nigerians to emulate Otedola's generous contributions towards noble cause and even torpedo him as the highest individual donor to the Fund. "So it's a call that the one billion that he has donated is not the limit. In fact, there are no limits at all. "We're putting it out there that there's not enough. Beginners would let others come and do more so that they can outpace him. But today, it's about him and it's about what he stands for," he said. Sanwo-Olu, however, assured Tolani and her siblings that their generational wealth was not being depleted by their father's philanthropic donations. He said rather, their wealth was being rearranged in a way that they would continue to live safe and secured, adding, "it is a living asset that will work and ensure that you have that tomorrow that you crave for.” "So it's actually a strategic investment to secure that future for your generation and other generations that are coming behind. So whilst we're thanking and commending you through your dad, I think it's really to make a call out to other well-meaning Lagosians, large corporates, business." Sanwo-Olu received the donation from Otedola in the company of the Chairman, LSSTF, Mr. Kehinde Durosinmi-Etti; Executive Secretary/CEO of LSSTF, Dr. Abdurrazak Balogun and other state officials and LSSTF Board of Directors. He added: “On behalf of the Fund, the board chairman, Mr. Kehinde Durosinmi-Etti; Executive Secretary/CEO, Dr. Abdurrazak Balogun and other board members, we express our deep appreciation to Mr. Femi Otedola. I want other Nigerians to emulate him and even exceed his donation. The N1 billion he has donated is not the limit. There are no limits, let others come and do more.”

or under this Act or the CBN Act or any other role, regulation, guideline or directive made hereunder; and 12 (h) is, in the opinion of the Bank critically undercapitalised with a capital adequacy ratio below the prudential minimum or such other ratio as the Bank may prescribe.” With the above sections referred to by the apex bank it is difficult know which specific section each of the banks may have violated that triggered the CBN's action. Meanwhile, THISDAY gathered that the boards of directors and chief executives of the respective banks were invited to a meeting that started at about 1pm yesterday, where they were addressed for 30 minutes each by the apex bank’s Deputy Governor Financial System Stability Phillip Ikeazor alongside three other Deputy Governors, Emem Usoro, Muhammad Dattijo and Bala Bello. THISDAY also gathered that the dissolution of the boards was not unconnected with implementation of the Jim Obazee report which earlier made recommendations to President Bola Ahmed Tinubu, who had ordered the probe of the apex bank and related institutions upon his assumption of office. It was further learnt that at

the meeting, the CBN reeled out issues of non-compliance and other infractions committed by the affected banks before it formally sacked the boards. And many of the findings linked to the Report of the Special CBN investigator, who was appointed under Executive Order by Tinubu to investigate the monetary authority and related entities in June last year. It is however, not clear what next for the banks but it is expected that new management and directors will be appointed to run the banks. In a text message, the former Chairman, Polaris Bank, Muhammad Ahmad, confirmed that, "The Board of Polaris Bank of which I used to chair has been dissolved by the CBN. "While thanking God for his mercies, I am prepared to defend my stewardship anytime. Essentially, the Special Investigator probing the activities of the CBN, had reportedly recommended that the federal government should takeover Union Bank which was acquired by Titan Trust Bank The investigator, Mr. Jim Obazee, had claimed the ownership of the bank was linked to the embattled former CBN Governor, Mr. Godwin Emefiele.

C B N SAC KS B OA R D S , M GT S O F 3 B A N KS , A P P O I N T S N E W E X E C U T I V E S bank announced the appointment of new executives to oversee the affairs of the banks. The new executives for Union Bank include Yetunde Oni as Managing Director/Chief Executive Officer, and Mannir Ubali Ringim as Executive Director. The CBN also appointed Hassan Imam as Managing Director/ Chief Executive of Keystone Bank as well as Chioma Mang as Executive Director. For Polaris Bank, Lawal Mudathir Omokayode Akintola becomes Managing Director/ Chief Executive of the bank with Chris Onyeka Officer as Executive Director. The appointments, which were contained in a statement issued by CBN acting Director, Corporate Communications, Mrs. Sidi Hakama, take immediate effect.

Union Bank Union Bank is the second oldest bank in Nigeria, established in 1917, and was quoted on the Nigerian Exchange Limited (NGX). It recently merged in a Court-ordered process with Titan Trust Bank and since then Titan Trust Bank ceased to exist as a legal entity. However, the bank

which is owned and promoted by the owners of the TGI Group, which had invested heavily in Nigeria’s agriculture sector and were makers of Chivita, which they recently sold to Coca Cola for over $1 billion, which they claimed they invested in the new bank. Obazee had invited the promoters of Titan Trust Bank, Messrs Cornelius Vink and Mr. Rahul Savara, to meet with the team of Special Investigators and had threatened that if they did not show up, the bank would be forfeited as he believed the bank was owned by a phantom shareholder, which he claimed to be Emefiele.

Babangida (rtd). He is married to Halima, the second daughter and last child of the former Nigerian military head of state. Lawal is a Nigerian businessman, entrepreneur and a philanthropist. Polaris Bank, which used to be Skye Bank has a south-west legacy and was then partly owned by Lagos State government. Its acquisition then by Northern interests caused anger in the south west which somehow felt short-changed by that transaction. The thinking then was that Buhari sold it northern interest, so the North can be in control of one strong bank

Polaris Bank

Keystone Bank

For Polaris Bank, the institution was approved for acquisition by a northern interest by President Muhammadu Buhari, who had claimed that there was no northern bank among the banks in Nigeria. Owing to this, a group came together through Strategic Capital Investment Ltd. (SCIL), promoted by Lawan Auwal Abdullahi, to purchase the bank as the sole thriving northern bank in the country. Lawal, is the son in-law to former Nigerian military ruler, General Ibrahim Badamosi

However, in the case of Keystone Bank, the ownership and how it was acquired is not clear. But it has a storied legacy as one of the four largest banks in Nigeria before it was taken over by the Asset Management Corporation of Nigeria (AMCON), through a bridge bank process. The apex bank, in a statement issued by CBN acting Director, Corporate Communications, Mrs. Sidi Hakama, said the banks' infractions varied from regulatory non-

compliance, corporate governance failure, disregarding the conditions under which their licenses were granted, and involvement in activities that pose a threat to financial stability, among others. The central bank, however, assured the public of the safety and security of depositors' funds. It added that it remained resolute in fulfilling its mandate to uphold a safe, sound, and robust financial system in Nigeria. The CBN also maintained that the banking system remained strong and resilient. Sections 12 (1) (C) of BOFIA 2020 states that the CBN Governor may, with the approval of the Board and by notice published in the federal government Gazette, or print and electronic media, revoke the licence granted under the Act if a bank fails to fulfil or comply with any condition subject to which the licence was granted; and 12 (f), “is involved in a situation, circumstance, action or inaction which constitutes a threat to financial stability. BOFIA further states in Sections 12 (g), that such action could be taken if institutions under the CBN regulation, “fails to comply with any obligation imposed upon it by

THURSDAY, ͹͹˜ ͺ͸ͺͼ ˾ T H I S D AY

NEWS

SEND FORTH IN HONOUR OF THE SUPER EAGLES... L-R: Super Eagles Captain, Ahmed Musa; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Head Coach, Jose Peseiro and the team Vice Captain, William Troost-Ekong during a send forth in honour of the Super Eagles towards the 2023 Africa Cup of Nations, AFCON, at Lagos House, Marina, Lagos... on Tuesday

Akwa Ibom Gov Meets Tinubu, Discusses Possibility of Nigeria Exporting Palm Oil Seeks FG's support for Ibom deep seaport Deji Elumoye in Abuja Governor Umo Eno of Akwa Ibom State has canvassed the support of President Bola Tinubu for the resuscitation of the 28-year-old moribund oil palm project in the

State. He stressed that with the support of the federal government, revamping the oil palm industry would have a full value chain to the economy as the country would begin to export palm oil.

Addressing newsmen yesterday, after meeting with Tinubu at the State House, Abuja, the governor also disclosed that he solicited for the support of the federal government for the Ibom Deep Seaport. He explained that the Seaport has

the deepest wharf that would bring in ship and would take care of the business interest of the south-east, south-south and the entire Niger Delta region. Eno, stressed that Ibom Air was making profit which was being

History Made as UNILAG Produces First Graduate with 5.0 CGPA Varsity set to graduate 17,464 students Funmi Ogundare For the third time since its establishment 61 years ago, a student of the Faculty of Engineering, Mr. David Akanmu has set another record in the University of Lagos, Akoka. The Vice Chancellor, Prof. Folasade Ogunsola who briefed journalists, yesterday on the upcoming convocation of the institution, gave the statistics of the graduating students. Akanmu emerged the overall best graduating student with a perfect Cumulative Grade Point Average (CGPA) of 5.00 out of the 17,464 students the school will be producing at its 57th convocation ceremony scheduled to kick off with a Jumat service on January 12. Also, Mr. Ibrahim Quadri of the Faculty of Management Sciences with CGPA of 4.94 emerged the best graduating student (Humanities) while Ms Aminat Ige will be receiving the overall best PhD thesis award in Mathematics for the year, as well as the best PhD in the Sciences. In the same vein, Issa Adedokun will receive the best PhD award in the Humanities( Private and

Property Law). Ogunsola stated that out of a total of 17,464 graduating students, 10,578 will receive first degrees and 6,886 will get their postgraduate degrees. "Of those with first degrees, 340 are first class with 97 coming from Management Sciences, followed by Science with 57 and Engineering 47. “From the Faculties of Pharmacy, Basic Medical Sciences and Clinical Sciences, there were 39 distinctions; 24 of which, were from the Faculty of Pharmacy. 3374 graduated with second class upper, 4,547 graduated with second class lower and 1,832 finished with third class. One hundred and eighty eight 188 graduated with a pass and 250 had unclassified degrees from Pharmacy, Basic and Clinical Sciences," Ogunsola stated. Ogunsola added that of the 6,886 postgraduate degrees, 465 will be graduating with a postgraduate diploma, 6,266 are graduating with a masters of which 377 have distinctions. "Most exciting is that 31 of the masters students are international students all with MSc degrees who were supported by World Bank

grant through the African Centre of Excellence for Drug Research, Herbal medicine Development and Regulatory Science (ACEDHERS)," she stated. The convocation lecture titled: 'Decolonising African Higher Education for Transformational Development', will be delivered on January 15, by Prof. Toyin Falola, a distinguished professor of History at the University of Texas at Austin. Also, the Chairman of Tanus and former Pro-Chancellor, Obafemi Awolowo University, Ile-Ife (O.A.U), Dr. Yemi Ogunbiyi, is expected to chair the lecture. The congregation for the award of first degrees, diplomas, certificates, and prizes to graduating students across all faculties and the Distance Learning Institute (DLI), the VC, noted, will hold in morning and afternoon sessions, on January 16, and 17. The VC added that Postgraduate Diplomas, Masters, and PhD degrees, including DBA and EMBA will be conferred on graduates of the School of Postgraduate Studies and the University of Lagos Business School (ULBS) on January 18. Ogunsola added that the uni-

Tinubu Rejoices with Associate Business Leader, Fola Adeola, at 70 Deji Elumoye in Abuja

President Bola Tinubu has rejoiced with his long-time friend and foremost business leader, Mr. Fola Adeola, as he marks his 70th birthday. Adeola is the founder of Guaranty Trust Bank; founder and chairman of the FATE Foundation, and member

of the Commission for Africa. The president, in a release issued yesterday by his Media Adviser, Ajuri Ngelale, felicitated Adeola for reaching the milestone age and for his numerous contributions to the Nigerian business ecosystem. He stated that this he has done by creating jobs, opening up investment opportunities across sectors, as well

as promoting initiatives for the economic advancement of Nigeria. Tinubu extolled the brilliance, integrity, courage, and patriotism of the founder of one of Nigeria's leading banks, describing him as a great asset to the nation. The president wished the top business leader many more years in good health and strength.

versity will also confer honorary doctorate degrees, same day, on three personalities who have distinguished themselves by significantly contributing to scholarship and societal development in various fields. The VC listed them as: Prof. Toyin Falola, Jacob and Frances Sanger Mossiker, Chair at the University of Texas at Austin, a Professor of Immunology at the Harvard Chan School of Public Health in Boston, Phyllis Kanki, as well as Professor of Political Science and former Chairman of the Independent National Electoral Commission (INEC), Attahiru Jega. The ceremonies will climax with a thanksgiving service at the Chapel of Christ Our Light, University of Lagos, on January 21, the institution said.

ploughed back for expansion of facilities at the taxiway and the terminal at the state owned airport. Asked specifically the purpose of his visit to the President, the Akwa Ibom State governor said: "The purpose of my visit to the president is to wish him a happy new year and also make a request. "You know when governors come to see the President, this is the seat of government, you have one or two things to talk about. "So, wishing the president a Happy New Year was paramount for us and we pray that God will keep him in good health and continue to give him the strength to carry on his work as the president Commander in Chief of the Federal Republic of Nigeria. "Then following that, we also have a request. We've talked and requested him to support us with our Ibom deep seaport, and agricultural programme on the oil palm. Akwa Ibom is an oil palm zone. And we have started the process of revamping the moribund industry that has laid there for 28 years. "It is being revamped right now. We need the support of the federal government to be able to have a full value chain and then bring people to work and be able to help Nigeria. "We can even get to exporting palm oil, because right now, we're still importing a lot of it. So that's why I came and it was a good visit."

On what the response of the President was to his requests, Eno said, "The President has graciously granted that I bring the memo to the requests and including MRO (maintenance, repair and overhaul). "Of course, the President is a businessman, he had to also ask, are we making profits running Ibom air because government has no business in business. I told him government is completely out of the running of Ibom Air. "Ibom Air is making profit and they are ploughing it back for expansion and the airport facility the second taxiway is on, we have the new terminal, we have the MRO and he was pleased to hear that. "We need to partner with the federal government of course, to get work going in the state. Akwa Ibom is part of Nigeria. "He is the president of Nigeria; he needs to know how one of his component states is doing. I just came for normal briefing though." Explaining the significance of Ibom deep seaport to Nigeria's economy in view of the fact that there are other existing ports, the governor said Ibom deep sea port has the deepest wharf that will bring in ship. According to him, "Again, Lagos is there. But you also know Lagos is congested. Of course that is no story. So you need a deep seaport that will take care of the south-east, south-south, if you like, the Niger Delta region."

Police Screen 22,000 Bauchi Applicants Segun Awofadeji in Bauchi Bauchi State Police Command has commenced screening of over 22,000 applicants for the 2022 constable recruitment process. THISDAY reports that at the Police Training School in Bauchi, on Wednesday, the applicants from across the 20 local government areas were seen with their various required documents, dressed in white T-shirts and shorts on queues. Our Correspondent also reports that the applicants are being screened at three stages of the physical scrutinisation. Officials from the 20 LGAs were seen checking certificates of indigenes, while officials of the Police Command were carrying out physical body checks to measure height, flat legs, chest size and others Also, representatives of the

Ministry of Police Affairs, Police Service Commission and Federal Character Commission were there to ensure applicants’ documents are in line with the requirements for the recruitment. According to the Police Public Relations Officer, Ahmed Wakil, that part of the requirements is the applicant's height, five credits in O'level results, evidence of good character from a traditional ruler, national identity card, certificate of origin, declaration of age, and guarantor’s form among others. While speaking with journalists at the screening venue in Yelwa, the Commissioner of Police, Auwal Mohammed Musa, said that “All people have been warned especially those that will partake in the recruitment process that they shun corruption; nobody is allowed to even come around with

money. It is going to be perfected to ensure that we get the best for the Nigerian Police. His words: “The recruitment process is better imagined, the need and desire of the Nigerian Police Force of having more personnel. As you can see here in Bauchi, the complaint always has been that there is inadequate manpower but now the federal government has taken the bull by the horn by trying to improve on the strength of the personnel of the Nigerian Police Force. “This is a welcome development and we are going to support the federal government and the Chairman of the Police Service Commission to ensure that the whole process is corrupt-free and straightforward.” He said that the process would be concluded on January 29th, 2024.

THURSDAY JANUARY 11, 2024 • T H I S D AY

THURSDAY, JANUARY 11, 2024 ˾ THISDAY

POLITY Ways and Means: Navigating the Economic Challenges of Debt L By Sylvanus Okwechime

ast year, the Senate’s decision to elevate the federal government’s borrowing limit via Ways and Means from five percent to 15 percent carried significant weight. Lawmakers emphasized that this step aimed to enable the Federal Government to meet its present and future obligations, aligning with the National Assembly’s approval and advances from the Central Bank of Nigeria. According to the CBN Act, the Ways and Means should not surpass five percent of the previous year’s revenue. Section 38(2) & (3) of the CBN Act explicitly states this limitation. However, in a leading debate spearheaded by Senator Ibrahim Gobir representing Sokoto East, who also served as the Senate Leader, the Senate’s support for the amendment to the Central Bank of Nigeria Act (Amendment) BILL, 2023 (SB. 1125) was sought. The Senator, representing Sokoto East emphasized the significance of this amendment in allowing the Federal Government to embark on crucial projects vital for bolstering and revitalizing the economy. He said, “Mr President, my respected colleagues, permit me to lead the debate on this Bill which seeks to amend the Central Bank of Nigeria (CBN) Act to increase the total CBN advances to the Federal Government from five per cent to a maximum of 15 per cent (15%).” In his closing statement, he urged the fellow lawmakers to support the passage of the bill, to give way to a thriving economy. “The Bill was read for the first time in this Chamber on Wednesday, May 24, 2023. This amendment is very consequential and it needs the support of us all. This is to enable the Federal Government to embark on very important projects that will inflate and rejig the economy. I, therefore, urge you all to support the passage of this bill.” The subsequent approval by the Senate permitted restructuring the N22.7 trillion loan extended to the Federal Government under the Ways and Means provision. The term “ways and means” finds its roots in the Parliament of England, signifying the provision of revenue to meet national expenditure requirements and implement economic policy objectives. In the United States, the Committee on Ways and Means holds a pivotal role as the chief tax-writing committee in the House of Representatives. Its jurisdiction extends from the U.S. Constitution’s Article I, Section VII, stating that “All Bills for raising Revenue shall originate in the House of Representatives.” Established initially as a select committee in 1789, the Committee on Ways and Means evolved over time, exercising jurisdiction over revenue-related matters, tariffs, trade agreements, and the U.S. bonded debt. Noteworthy figures in American politics have emerged from this committee, including Presidents, Vice Presidents, Speakers of the House of Representatives, and Supreme Court Justices. Drawing parallels from established democracies is vital to dismiss the notion that Ways and Means inherently equals indebting a nation. The essence of Way and Means extends beyond just amassing debt. Questions have arisen regarding the considerable debt accumulated by the federal government, especially during the past administration, using Ways and Means between 2016 and 2023. As of June

Former CBN Governor, Godwin Emeﬁele

last year, this figure surpassed N20 trillion, breaching the five percent ceiling prescribed by Section 38 of the CBN Act. However, crucial questions revolve around the purpose behind borrowing via Ways and Means and the utilization of these funds. It’s imperative to note that this was not solely a Nigerian phenomenon during that period. Even the United States, considered a beacon of democracy, faced similar challenges during the same timeframe. The Peter G. Peterson Foundation, an organization established by a former Secretary of Commerce, highlighted that when government spending surpasses revenues, borrowing becomes inevitable. Structural factors such as an aging population, rising healthcare costs, and an insufficient tax system exacerbate deficits, leading to increased national debts. “America’s growing debt is the result of simple math: each year, there is a mismatch between spending and revenues. When the federal government spends more than it takes in, we have to borrow money to cover that annual deficit. And each year’s deficit adds to our growing national debt. Historically, our largest deficits were caused by increased spending around national

Former Minister of Finance, Zainab Ahmed

emergencies like major wars or the Great Depression. Today, our deficits are caused mainly by predictable structural factors: our aging babyboom generation, rising healthcare costs, and a tax system that does not bring in enough money to pay for what the government has promised its citizens. The coronavirus crisis has accelerated an already unsustainable fiscal trajectory, both because of its devastating effect on the economy and the necessary legislative response. Moving forward, it will be critical for America’s leaders to address our rising debt, and its structural factors.” Currently, the American debt stands at $34.09 trillion, amounting to $101,246 per American. In Nigeria, the total Way and Means debt profile reached N22.7 trillion, which the former President managed to securitize before leaving office. This move, extending the loans over 40 years and reducing their value to N4.3 trillion, was considered necessary to sustain governmental operations. Disputes arose as Jim Obazee contested the approval granted by the Ninth Assembly to securitize the loans, citing a contravention of Section 38 of the CBN Act, 2007. However, not all voices echo Obazee’s

sentiments. Kingsley Moghalu, a former Deputy Governor of the CBN, cautioned that the disclosure of the investigator’s activities might undermine foreign investor confidence in Nigeria’s economy. Contrary to the negative narrative surrounding Ways and Means, economic expert, Mr. Johnson Chukwu, CEO of Cowry Asset Management, described Ways and Means as interim funds lent by the CBN to the Federal Government, supporting expenditures until revenue accrual within the same year. He said, “Ways and Means is a way in which the Federal Government raises funds, by borrowing from the CBN. Such is done either through bonds or Treasury bills.” Consequently, a review of the analysis of the approved Ways and Means shows that redemption of treasury bills and FGN bonds was N13.5 trillion, while interest on the Way and Means was N4.2 trillion, both representing N17.7 trillion for domestic debt-service of these sovereign instruments. While acknowledging that this approach led to inflation during the same period, the government, faced with recurrent and capital obligations, often resorted to the Way and Means tool. This short-term inflation might be considered the collateral for such a necessary option. r0LXFDIJNF B EFWFMPQNFOU FDPOPNJDT FYQFSU XSPUF JO GSPN -BHPT

THURSDAY JANUARY 11, 2024 • T H I S D AY

T H I S D AY ˾ THURSDAY JANUARY 11, 2024

POLITICS

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

Moghalu: It’ll Be Wrong for Ganduje to Impose Leaders on Anambra APC Former Managing Director of National Waterways, and a Chieftain of the All Progressives Congress, Chief George Moghalu, in this interview with Adedayo Akinwale, speaks on salient national issues including recent developments in the Anambra State chapter of the ruling APC.

ow do you describe life after ofﬁce? It depends on the attachment you place to the office. Life is about life, it is for the living. If you don’t allow the office to change who you are, then you will not notice the transition from being in office and being out of office. The only time you have a challenge is when you allow the office to control your being, to determine who you are, when you lose your friends, because you hid yourself in a position and things like that, then that is when you have a difficulty. But when you are yourself, enter the office, believing that one day you will exit, maintain your friends, remain who you are, don’t allow the office to determine your person.

lot of people didn’t know NIWA. And if you recall, my first interaction with you guys, I told you that NIWA was under reported and pleaded to the media to please help me to bring me to the forefront, which the media did, I must thank them. They helped me. They brought NIWA out to visibility. Today, the NIWA I left is not the NIWA I took over. So for me, that was quite remarkable, which I’m very grateful to God, for my colleagues, my friends, members of the media for the support I received.

them also, as friends of the MD of that office. So by the time you leave the office, you’re not expecting your friendship to continue. But there are some exceptional cases. Those who may not have been your friend, but who became your friend by virtue of your office your are occupying, and by the time you leave the office, they still remain your friend, they still make effort to remain free. I have cases like that.

After the achievement, did it come to you as a surprise when your tenure was not renewed? Why would it come as a surprise? You are at liberty of the appointing authority. Because authority that appointed you for the first four years with a proviso that you can be renewed or not renewed. So, renewal is a probability. So, if the appointing authority decides they want to try somebody else, why not? It is not cast in iron. What of people who did not even finish their term. I finished my term, what you’re talking about is renewal. What about a situation where you don’t even finish your term? What are you going to complain about?

Looking back, what do you think you could have done better as MD of NIWA? I have no regrets about all the actions I took. When I was given the appointment, I gave myself a target, which was principally to change the narrative. Because prior to my going there, I didn’t know NIWA. A

The off-cycle elections in Imo, Kogi and Bayelsa states have all come and gone. Did the outcome of the elections take you by surprise? No, not at all. Let me use this opportunity to congratulate the Imo state Governor for his re-election, congratulate the Bayelsa state governor for his reelection and congratulate the elected Kogi state governor for his elec-

Moghalu

Do you still have the set of friends that milled around you when you were in the ofﬁce? Certainly you must not lose sight of the fact that in public office, there are friends of the MD, of the office you are occupying. There are also your friends who you have been with in or out of the office. Those friends are there for you. Whether you’re in office, whether you are out of office, it is just like family. But there are also friends you make, that were attracted to you because of the office you are occupying. It would be foolish of you to now expect that those friends will remain when you have lost the office. So it depends on your expectations. There is an Igbo proverb that says somebody that is not carrying anything has nothing to break. So when you relate and work with those friends of the office, you relate with

tion. For Imo state particularly, I see it as a reward for hard work because the governor actually campaigned aggressively in the course of the campaign. So for me, I didn’t see any surprise, you must also not lose sight of the incumbency factor in the politics of our country. It is possible to defeat an incumbent, but it requires extra work because all the paraphernalia, all the machinery of governance is at his disposal. It is like the beginning of a race, everyone is not on the same line when they are fighting an incumbent. The incumbent has a few steps ahead. So it requires greater work for the opposition to be able to upstage the incumbent, so I wasn’t surprised by the results. The last time we met with you, I remember basically asking you whether you have returned to APC, you say you’re still part of it. Recently, there was an Anambra APC stakeholders meeting, you were conspicuously missing, what happened? Is it that you have not been integrated fully or there are still issues to be sorted out? Let me put some issues very clear. The issue of integration does not arise. You can only talk of integration when you’re outside. I am a bonafide APC member, I’m a founding member of APC. This present generation says it is an error for tenant to sack a landlord in his house. So for me, the issue of integration does not arise. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Gains of PISE-P’s Launch for Sustained Peace, Security in Southeast The oﬃcial launch of Peace In South East Project (PISE-P) on Friday, December 29, 2023, actually resonates in communities, local government areas, states within the zone with accompanying eﬀects in other parts of Nigeria. Udora Orizu reports.

learly, the epoch-making event held in the ancient town of Bende, a known terrain in Abia State together with the Homecoming/Grand Reception of the Deputy Speaker, House of Representatives, Hon. Benjamin Kalu, drew the attention of who is who in Southeast and the entire country. Also, President Bola Tinubu was conferred with a traditional title of Omeziri Igbo 1 and Enyioma Ndigbo by the Chairman of the Abia State Council of Traditional Rulers Eze Linus Mbah, backed by other traditional rulers in the Southeast. On the day, both political and business heavyweights from Southeast and many others from all walks of life converged to not only honour Hon. Kalu who is in the leadership of the National Assembly and well respected, but to open an entirely new chapter in the anal of history for Ndigbo. It was also a time for deep reflection of who the Igbo really are from creation and in existence all the while with virtually every speaker alluding to the fact that Southeast has always been a region known for its industrious nature and peaceful co-existence. Their allusions are premised on the reality that before the advent of disruptions based on certain ideologies, which are allien to the people of the area, Southeast enjoyed full life circle centred on self-sustaining and collaborative efforts geared towards sustained socio-economic development, devoid of intimidation, fear, calamity, terrorism, among others. Another truism is that nothing has reversed this trend, just as Vice President Kashim Shettima, puts it, “the terror groups that have held the South East to ransom are not a creation of the people of the region, or of Nigerians from

Kalu other parts of the country. “The problem we are here to solve as a community, as an Umunna, is a creation of self-serving criminals who do not represent the interests of the Ndi-Igbo and Nigerians...” While he spoke as one who truly understands what the region has dealt with or rightly put it as what has become its albatross, this mountain (insecurity) which turned the tide in the past few years, is surmmontable, because therein lies a sigh of soothing relief and expected return to progressive status quo. And as the Vice President who stood in for President Tinubu at the PISE-P formal inauguration also posited, “The seeds of progress can only sprout in the fertile soil of peace and security. This is why we take immense pride in the collaboration of all stakeholders

and initiatives such as the Peace in South East Project, to ensure that the shield of security in the region isn’t a distant mirage in the landscape of aspirations.” He maintained, however, that the catastrophic situation can’t be reversed unless the government involves the people whom, he said, are the ears, legs and mouths in the region. The Vice President’s statement is equally vice-versa in the sense that there is no way the government - nay security agencies will ever tackle the menace without collaboration and extensive support of the people who live in the affected areas. Collaborating the views of Shettima, Abia State Governor, Dr. Alex Otti and his Imo State counterpart, Senator Hope Uzodinma, who is also the Chairman of Southeast Governors’ Forum declared their readiness to push for greater support in the pursuit of lasting peace and enduring security in the region. Specifically, Governor Otti said, “We the people of the South East hereby declare that peace is what we stand for as a region. “We declare peace and prosperity, we declare peace for progress, we stand for peace in the South East as a catalyst that will drive growth in all sectors of the economy and rekindle the confidence of future generations. We declare that peace is better.” On why he has dedicated his time, material and human resources to pursue the cause of this developmental initiative using PISE-P as a vehicle, the convener and House of Representatives Deputy Speaker, Hon. Kalu, said, “When I embarked on the South East Project, my vision was clear — to foster peace, unity, and development in our region through a nonkinetic approach. “The south east has long been known for its

rich cultural heritage, vibrant communities, and enterprising people. Yet, we have faced our fair share of challenges, including socio-economic disparities, insecurities, political tensions, and occasional conflicts. “Our goals in the south east project are clear. We aim to promote reconciliation among communities and individuals affected by past conflicts. We recognise the need to address the root causes of conflict, including socio-economic disparities and political tensions. “Empowering communities is another crucial goal of the project, providing them with the necessary resources, skills, and opportunities for sustainable development.” While consulting with political bigwigs and others in various layers of leadership within and outside the Southeast, Hon. Kalu didn’t leave out the traditional institution who without hesitation supported the project and graced its launching. Among prominent traditional rulers who made his stance known on the move to restore the zone to its pride of place is the Obi of Onitsha, Nnaemeka Alfred Achebe. He particularly threw his weight behind PISE-P, with a weighty endorsement of its non-kinetic approach towards addressing the security challenges in the region. Already, the non-kinetic measure of tackling insecurity in the South-East has received the buy-in of many, owing to the loss of lives and property in numerous sectors of human existence. -Orizu is media aide to Deputy Speaker of House of Representatives NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ THURSDAY, JANUARY 11, 2024

FEATURES

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

Showcasing African Unity in Diversity, Cultural Renascence in Ethiopia Africa Celebrates 2023, the ‘Made in Africa Exhibition’, organised and packaged by Nigeria's foremost fashion and general events production company, Legendary Gold Limited in collaboration with the African Union, had various African countries exhibit products made in their countries during an unforgettable three-day extravaganza of African hospitality. Held from October 25th to 27th at the African Union headquarters and Skylight Hotel in Addis Ababa, Ethiopia, the event shattered expectations with its spectacular display of cultural renaissance and unity in diversity. Writes MARY NNAH

Diﬀerent groups at the cultural renascence

frica Celebrates, organised and packaged by Legendary Gold Limited in collaboration with the African Union doubles as host partner, the Embassies of Nigeria and Burundi to Ethiopia, the Ethiopian Ministry of Foreign Affairs, the Africa Tourism Board and the US delegation to the African Union. Last year, the celebration witnessed participation from 38 African nations and 11 countries from Asia, Europe, and North and South America, setting a new standard for cultural convergence and international collaboration. According to Lexy Mojo-Eyes, President/ CEO of Legendary Gold Limited and the driving force behind Africa Celebrates, who delivered the warm welcome address at the event, the official opening ceremony, which unfolded on October 25th at the African Union headquarters, was masterfully conducted by Dr. Oswald Chinyamakobvu, of the Department of Trade and Industry of the African Union. While speaking with THISDAY on his return to Nigeria, Mojo-Eyes emphasised the event's core mission: celebrating Africa's unity in diversity by fostering economic, social, and political integration across the continent. Africa Celebrates serves as a platform for promoting Africa's rich art, culture, heritage, trade, investment, science, and technology, all while encouraging the consumption of "Made in Africa" products. He passionately expressed, “We need to wear our clothes, eat our food, listen to our music, watch our films, enjoy our dance, and do business with each other." The event further seeks to boost intra and inter-African trade, investment, and tourism, with a strong emphasis on supporting and empowering women and youth in wealth creation. Her Excellency, Ambassador Minata Samate Cessouma, Commissioner for Social Development, Culture & Sports of the African Union, was represented by Olubusayo Akinola (PhD) during the opening remarks. Additional remarks were made by distinguished guests, including Ambassadors Nasir Aminu and Willy Nyamitwe, Nigeria and Burundi Ambassadors to Ethiopia and the African Union. Further addresses were by Mikael Cleverly, Charge d’ Affairs of the US delegation to the African Union and His Excellency, Jantirar Abay, Deputy Mayor of Addis Ababa. The event's keynote addresses were eloquently delivered by Hon. Joseph Ole Lenku EGH, the governor of the County

Government of Kajiado, Kenya, and Hon. Haidara Aichata Cisse, honourary Vice President of the Pan African Parliament. The lineup of speakers also included co-organisers of various components within Africa Celebrates, such as Mary Flowers, Founder of Southern California based Africa - American company, GGDG, Bea Hackula, Founder, Africa for Africa Women’s Conference, Joseph Ehigiamusoe, UK based Co-Founder, Diaspora Africa Konnect, Chief (Dr) Amb Lancelot Oduwa Imasuen, Nigerian top filmmaker and Executive Director of Afro Film Alliance and Solomon Kassa. A high-level panel session, titled "Building the Economic Landscape to Optimise Investment Opportunities in the African Culture & Tourism Sector," was expertly moderated by Mr Cuthbert Ncube, President of the African Tourism Board, and featured notable participants like Hon. Rizik Zakaria Hassan, Minister

of Wildlife Conservation & Tourism of South Sudan, Alhaji Lai Mohammed, immediate past Minster of Culture & Tourism of Nigeria, HRH Zolani Mkiva, member of South African Parliament and head of the Institute of African Royalty and Sagno Stella Aicha, highly accomplished UNESCO attained music artist from Burkina Faso. On October 26th, activities shifted to the Skylight Hotel, where various forums and summits ran from 9 am to 5 pm. These included the Africa Global Economic & Development Summit, the Pan African Women Empowerment Summit with Dr Joyce Hilda Banda, former President of Malawi as the Keynote Speaker, the Afro Film Alliance workshop, a capacity-building scheme for young African film-makers and Diaspora Africa Konnect sessions.

Africa Celebrates serves as a platform for promoting Africa's rich art, culture, heritage, trade, investment, science, and technology, all while encouraging the consumption of "Made in Africa" products

Africa Celebrates' commitment to connecting African Diaspora globally with the continent was evident during these sessions. The evening of October 26th marked the beginning of a vibrant cultural night filled with African music, dance, and delectable cuisines from participating countries. The night showcased performances and culinary delights from Mali, Burundi, Algeria, Cameroon, Central African Republic, Nigeria, Burkina Faso, DR Congo, Cote d’Ivoire, Ghana, Kenya, and South Sudan. October 27th saw half-day sessions for various components of Africa Celebrates in preparation for the Gala Fashion, Music, and Awards Night. Attendees arrived dressed in their finest African attires, a testament to the event's emphasis on the cultural celebration. The night featured a dazzling fashion show with designers from 19 African countries and an Asian designer, Kima Dongak, highlighting the potential for future collaboration between Africa and other continents. Dance and music performances added to the evening's excitement, with an electrifying show by the Amagaba dance troupe from Burundi and a stellar musical performance by Nigerian artist Olakira. The grand finale of Africa Celebrates 2023 was the awards ceremony, where deserving individuals and groups were recognised for their outstanding contributions. Notably, Dr. Joyce Hilda Banda, former President of Malawi, received the highest recognition for her role as an inspiration to African women globally. Awards were also given to South Sudan for bringing the largest delegation of 75 people to Africa Celebrates 2023 and Amagaba dance troupe from Burundi got the award for the best performing dance troupe. The success of Africa Celebrates 2023 was a collaborative effort organised by Legendary Gold Limited, in partnership with the African Union, Embassies of Nigeria & Burundi to Ethiopia, the Ethiopian Ministry of Foreign Affairs, the Africa Tourism Board, and the US delegation to the African Union. Local Ethiopian co-organisers included Pristine Marketing Group and Studio 1888. Other partners included Africa for Africa Women Conference, J4ward Global, Design Essentials, Mayalz Events, Kana TV, Art TV, Kenniz Fm, Global Green Development Group, 20 October Institute for Arts & Entertainment, Etiquette Global Services, Habesha, Malaika African Cuisine & Grill and Platinum Entertainment Producers. Ethiopian Airlines and Skylight Hotel were official airlines and hotels respectively.

T H I S D AY THURSDAY JANUARY 11, 2024 20 TR

UT H

& RE A S O

Thursday January 11, 2024 Vol 27. No 10499

opinion@thisdaylive.com

www.thisdaylive.com

PRESIDENTIAL AMNESTY FUNDING: ANOTHER VOICE

RANAMI OLALI argues the need for increased funding in face of the dwindling value of the naira

See page 21

POLITICAL STANDARDS IN GUBER ASPIRATION Olumide Akpata has character, competence and capacity, writes MICHAEL ADIGUN

See page 21 EDITORIAL

INCESSANT ATTACKS ON RURAL COMMUNITIES

A tale of two friends: while one is being quizzed on financial issues, the other has acquitted himself well in office, writes TUNDE OLUSUNLE

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THURSDAY JANUARY 11, 2024

Olumide Akpata has character, competence and capacity, writes MICHAEL ADIGUN

RANAMI OLALI argues the need for increased funding in face of the dwindling value of the naira

POLITICAL STANDARDS IN GUBER ASPIRATION

PRESIDENTIAL AMNESTY FUNDING: ANOTHER VOICE

There is growing interest in the gubernatorial race in Edo state particularly as it concerns recent happenings in Labour Party in the state. The interest stems from the entry of Olumide Osaigbovo Akpata, a former Nigerian Bar Association President into the race for the gubernatorial ticket on the platform of the Labour Party. Keen observers noted that whilst the clamour and sentiment for a candidate of Esan extraction grew loud, there were also louder voices that tilted towards preference for competence, capacity and character. As former President of the NBA, Olumide Akpata distinguished himself in service. It is no surprise that he is bringing this to bear in his aspiration in Edo State Labour Party. As is traditional, many politicians simply see their party as vehicle to simply drive their ambition and abandon or show indifference depending on whether they get their party ticket. What Mr Akpata is currently doing in Edo State Labour Party is novel in the annals of politics in the state. At different fora, he has reiterated that his concern for now is about building the party and encouraging other aspirants to do same. One does not need a political scientist to understand that success can only be guaranteed by a political party that not only boasts of committed party men and women but is also equipped with human capacity and resources. Recall that in October 2023, he went round the entire 18 local governments of the state to meet with party executives at the State, Local government and ward level. Akpata's aim was not only to familiarize himself with the party at all these levels but also to understand the challenges they face. In the course of the tour, there were three major issues he identified. First was the issue of human capacity development of party members especially those who will carry out designated party activities during elections. Key to strengthening the Labour Party in Edo state is building the capacity of party members to understand the electoral system. Consequently, he donated the sum of N3m for Edo South senatorial district human capacity training and challenged the party to organize similar workshops in other senatorial districts. The issue of mobility was a recurrent issue as it was noticed that party men and women could not embark on aggressive campaigns. The guber aspirant believes that without mobility, mobilising party for the election proper will be quite challenging. In December 2023, Olumide Akpata toured the 18 local governments again. Many party stalwarts have called this action unprecedented as no aspirant in the current race has toured the state twice

in a period of three months. This time around, he came to fulfil the promises he made to ensure mobility for party members by donating and transferring ownership of 21 Toyota Sienna Minivans and a brand new Toyota Hiace 2023 model bus to the party. According to the plan, each local government will have one Toyota Sienna Minivan bus. The state secretariat will have the Toyota Hiace and a Sienna bus and women in the party will have a Sienna bus. He was not done yet as he recently added another Sienna bus for the Edo South mobilization group. In the course of the December tour at the state, local government and ward levels, which he called his Christmas visit, he challenged party members to remain committed and focused on delivering the state for the Labour Party. Olumide Akpata used the tour to pledge 26,000 Labour Party branded chairs and 230 Public Address systems to his party to be distributed at the state, local government and ward levels in January 2024. Political analysts and watchers believe in the notion that no politician succeeds without reasonable investment in the party under whose platform he intends to run. This is what Akpata has done and still continues doing. The task ahead will be daunting as the Labour Party faces an incumbent Peoples Democratic Party at the state and the opposition All Progressives Congress desirous of getting power back. From the look of things, the Labour Party in Edo appears formidable and resilient. A united and strengthened Labour Party may be the party to watch in the gubernatorial elections in September 2024. But before that can happen, the party must present a formidable candidate who is committed to its growth and development, a man who understands the challenges the state faces, a man with character and is relatable, a man with a proven pedigree of success. The Labour Party has a choice to make and it must do so between now and February 24th 2024. .Adigun writes from Benin

The recent visit of the President of the Ijaw been “tremendously successful” in terms Youth Council (IYC), Sir Jonathan Lokpobiri, of impacting lives of young Niger Deltans to the Interim Administrator of the Presidential and pledged the willingness of the IYC as Amnesty Programme (PAP), Major-General the umbrella body of young people in the %DUU\ 1GLRPX UWG LQ KLV $EXMD R΀FH KDV RQFH region to partner and work “strategically” again indexed the inevitability of sustaining the with Ndiomu to further reposition the PAP. programme. Lokpobiri’s appeal for increased funding Lokpobiri who leads the vibrant IYC is a man for PAP resonates with the prevailing ZKR VKRXOG NQRZ HVSHFLDOO\ ZLWK KLV LQÁXHQFH opinion of a majority of the people of the spreading across the creeks of the oil-rich Niger UHJLRQ <HDU DIWHU \HDU 3$3·V LQÁXHQFH DQG Delta region. He acknowledged that the relative relevance among the Niger Delta people peace in the region has resulted in sustained deepens. And with this comes increased crude oil production, with near-zero cases responsibilities all of which exert demand of force majeure. Compare the peace in the on the purse of the Programme. Aside the creeks today with the upheavals that regularly mandatory monthly stipend to Amnesty assailed the region pre-Amnesty years and you EHQHÀFLDULHV 3$3 KDV EHHQ HQJDJHG LQ will appreciate his submission. Never should sundry obligations for the good and peace Nigeria return to that sour and sore past. of the Niger Delta region and for the gain The late President Umaru Yar’Adua had in of Nigeria. 2009 created the Amnesty Programme through In recent years, the PAP has been an implementation committee as a response involved in the sponsorship of series to the restiveness and febrile ambience of the of training in aviation and avionics for region at that time leading to intermittent shut some Niger Delta youths among other down of oil exploration operations and a sharp obligations, including awarding overseas decline in crude oil output with corresponding and local scholarships to Niger Deltans, organizing artisanal trainings and blooding the youths in entrepreneurship among other interventions. These responsibilities FRVW PRQH\ DQG SXW ÀVFDO SUHVVXUH RQ WKH administration of the Programme. The pressure is pumped up with the devaluation of the naira which has made N65 billion look like N20 billion or less. When you factor the reality that the innovative leadership of Ndiomu has helped to capture more people into the PAP net and widened responsibilities to include providing seed capital for groomed entrepreneurs among the youths, you’ll appreciate the enormity of WKH ÀQDQFLDO EXUGHQ RQ WKH DGPLQLVWUDWRU RI drop in petro-dollar accruals. PAP was, the Programme. The bottomline is that there therefore, designed to deradicalize the restive is paucity of funds to keep the programme youths in the region, train them through running and quieten the ex-agitators in the various capacity-building initiatives and have creeks. them mainstreamed into the larger society. The The issue of dearth of funds is made creation of the programme earned, deservedly, worse by the devaluation of the naira. With the acclaim and validation of both local and the current value of the naira, what N65 international agencies as a well-thought out ELOOLRQ FRXOG DFKLHYH ÀYH \HDUV DJR RU DV initiative that would not only promote and recent as last year, it cannot achieve same sustain peace but also actively engage and this year. Consider the case of overseas empower the youths of the region. scholarships that require the Programme A comparative analytics of the indices on the administrator to change naira to dollars relevance and desirability of the programme in WR HͿHFW SD\PHQW RI VFKRRO IHHV IRU the region, before and after its creation, shows EHQHÀFLDULHV LQ RͿVKRUH VFKRROV $GG WR that it has achieved monumental success in WKDW LWV RWKHU ÀVFDO REOLJDWLRQV WR WKH SHRSOH areas of social welfare, skills acquisition, job including projects execution in education, and wealth creation, cognitive knowledge general infrastructure, healthcare and impact, entrepreneurship and above all, giving welfare, then you will appreciate the a huge sense of belonging to the region as suggestion of Lokpobiri. being an integral part of the national matrix. The reality is that a good 14 plus years PAP, therefore, is beyond capacity building after its creation, PAP is now struggling to DQG HPSRZHUPHQW LW KDV EHFRPH DQ HͿHFWLYH PHHW LWV ÀQDQFLDO REOLJDWLRQV 1GLRPX KDG WRRO IRU QDWLRQDO LQWHJUDWLRQ %XW WKHUH LV D at various times hinted at this and has had snag. In recent years, the Niger Delta oil-map to resort to massive cost-saving measures has expanded. This also translates to more WR NHHS WKH YLVLRQ DÁRDW %XW IRU KRZ ORQJ" youths enrolled in the programme and more The ex-agitators, traditional rulers and responsibilities in terms of funding. other stakeholders have been working This is why the plea of Lokpobiri when he assiduously with the Ndiomu leadership visited Ndiomu recently should not be swept to meet the basic needs of the people on aside. The IYC leader had advocated, pointedly, a shoestring and still keep the Amnesty for increased funding for the programme. He ÁDJ Á\LQJ EXW VXFK H΀FLHQF\ LQ DXVWHULW\ gave his reasons: “With the fast decrease in the does not mean that all is well with the value of the Naira, a N65 billion annual funding Programme and within the creeks. is a far cry. It is our appeal to the government Olali, RI 3UHVLGHQW %ROD 7LQXEX WKDW WKHUH QHHG WR EH environmental activist, writes from Port a review.” Harcourt He acknowledged that the Programme has

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T H I S D AY

THURSDAY JANUARY 11, 2024

EDITORIAL

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

INCESSANT ATTACKS ON RURAL COMMUNITIES Security agencies should do more to secure the countryside

he spate of attacks on rural communities across the country has gradually brought the average citizen to the Hobbesian state where life has become nasty, brutish, and short. That operatives of the various security agencies usually arrive scenes of attacks only after many people had been killed has only heightened the sense of foreboding. And the inability to bring attackers to justice, according to Amnesty International, only helps to fuel dangerous conspiracy theories that escalate the violence. It is therefore incumbent on WKH DXWKRULWLHV WR ÀQG D VROXWLRQ WR WKH JURZLQJ lawlessness across the country, but most particularly in rural communities. The latest surge in crimes is posing a serious challenge, and indeed adding to the growing feeling of unease that the new administration is still not doing enough to protect the people. This feeling is not without MXVWLÀFDWLRQ (YHQ ZLWK all its strategic importance as the seat of power, Abuja is also getting more than a fair share of attacks and threat which are causing fear and apprehension among residents. "The Nigerian authorities have left rural communities at the mercy of rampaging gunmen”, said an Amnesty International report published last year. The failure to protect rural dwellers is put squarely at the doorsteps of the federal government that has lost the capacity to rein in sundry cartels of gunmen who terrorise the countryside. A day after the last Christmas, bandits invaded the palace of the district head of Pandan-Gwari in Bwari area council and ZKLVNHG KLP DZD\ DORQJVLGH ÀYH RI KLV VXEMHFWV at gunpoint. Their whereabouts remain unknown even though the criminals have reportedly made a ransom demand of N50 million. Meanwhile, the seven farmers kidnapped at Achimbi community in Kuje area council regained their freedom at the

weekend, following cash payment of N6 million by their families. Today, in Kwali, Abaji and Kuje local governments of the Federal Capital Territory (FCT), armed robbers have now been joined by kidnappers who abduct people in broad daylight. Last year, according to a report in a national newspaper, at least 36 people were killed, and 339 others abducted in the FCT. When residents of the capital city of a country move around with a sense of foreboding, and also feel uncertain about the capacity of the authorities to deal with such challenge, there is cause to worry. To make matters worse, where members of these marauding gangs are arrested, the impunity in the justice system works to set them free. This gives the impression of a conspiratorial nexus between the invaders and rogue operatives within the security agencies. For most of these cases, that the perpetrators have never been brought to justice leaves rural communities feeling completely abandoned to their fate. The impact on their means of livelihood compounds the situation. Since it is impossible to carry out farming activities under an insecure environment, it is also no surprise that domestic agricultural production KDV EHHQ VWLÁHG ZKLOH DFFHVV WR UHJLRQDO PDUNHWV remain blocked. This is why we align with the call on the federal government to urgently deploy security forces into the hinterlands, including consistent aerial surveillance to track down the purveyors of the carnage, and end the wanton waste of lives and property. Government at the federal and state levels should also muster the courage and political will to halt the incursion of non-state actors into the education space as the rate at which they abduct students for ransom is alarming. It is imperative for government to secure life and property of all citizens.

It is incumbent on the authorities to ﬁnd a solution to the growing lawlessness across the country, but most particularly in rural communities T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

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

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LETTERS NIGERIA AND THE CHALLENGE OF CORRUPTION ,W ZDV DOO JRLQJ YHU\ ZHOO IRU (GX XQWLO VKH UDQ LQWR WKH FXUUHQW brick wall. At only 37, an exponential rise up the ladder of politics for the medical doctor who had served as Commissioner for Health in Cross River, had painted a future awash with promise. But all of that promise is about to be washed down Nigeria’s rapLGO\ ÀOOLQJ GUDLQ The allegations are yet to scale the formidable hurdle of proof, EXW LQ 1LJHULD WKHUH LV KDUGO\ HYHU DQ\ VPRNH ZLWKRXW ÀUH 6RPH N585 million is the jaw-dropping amount traced to a private account which supposedly received the amount at the instance and instruction of the minister. The money was meant for payment to vulnerable groups in Akwa Ibom, Lagos, Cross River and Ogun States. The story may still be developing, with the various state agencies eager to bare their newly sharpened teeth to the skeptical eyes watching the new administration. But the signs are that it is a classic Nigerian story, with the overarching theme that what was supposed to be an advantage has instead become an embarrassment. Nigeria became a humanitarian basket case since Boko Haram scaled up its operations within the country in 2009. Attack after attack has left many communities on the verge of ruination. Amidst the ruination wrought by Boko Haram and other

equally ruthless terrorist groups, Nigeria has struggled to confront its considerable humanitarian crisis. Men, women, and their children have seen their previous lives obliterated and a new reality of squalid refugee camps, hopelessness, and horrible living conditions foisted on them. Before the crisis, Nigeria had grappled with grand issues of multidimensional poverty, unemployment, and underdevelopment. The activities of the terrorists only served to exacerbate an already tragic situation. The Humanitarian and Poverty Alleviation Ministry was conceived by the Muhammadu Buhari administration to confront the mounting humanitarian challenge. It was further rebranded under the administration of Bola Ahmed Tinubu. Yet, almost from inception, the Ministry has been rocked by allegations of money laundering on an outrageous scale. Allegation after allegation followed Sadiya Umar-Farouk who was Minister under Buhari. The allegations have remained ceaseless. It is noteworthy that it was in the course of investigating alOHJDWLRQV RI IUDXG WR WKH WXQH RI 1 ELOOLRQ WKDW %HWWD (GX ZDV implicated. Is there a grander irony in Nigeria than that which solemnly lies in the fact that the very ministry set up to sooth the pains of the

victims of Nigeria’s rampant humanitarian crisis has itself been caught in a whirlpool of corruption and controversy? 7KH RQJRLQJ SUREH RI WKH +XPDQLWDULDQ $ͿDLUV 0LQLVWHU LV again forcing Nigerians to confront the hydra-headed monster of corruption. If Nigerians are to ever agree on a major factor responVLEOH IRU WKH FRXQWU\·V LQDELOLW\ WR IXOÀO LWV SURGLJLRXV SRWHQWLDO it would be corruption. Corruption has almost singlehandedly ensured that a country which should be sitting at table with the PRVW GHYHORSHG FRXQWULHV RI WKH ZRUOG LV RQ WKH ÁRRU VXOOHQ DQG scrambling for scraps. %HWWD (GX·V SUHGLFDPHQW SUHVHQWV D UHODWLYHO\ QHZ JRYHUQPHQW ZLWK LWV ÀUVW PDMRU FKDOOHQJH 7KHUH PD\ KDYH EHHQ WKH IXHO VXEVLdy removal crisis, but this is unmistakably a potential banana peel for the Tinubu presidency. The way and manner he handles it will determine whether Nigerians will nod in knowing resignation or sit up and take notice. :KDWHYHU LW LV WKH FXUUHQW DGPLQLVWUDWLRQ VKRXOG FRPPLW WR ÀJKWLQJ FRUUXSWLRQ DW GLͿHUHQW OHYHOV ,QYDULDEO\ DOO WKRVH ZKR FRQWLQue to enable corruption in the system must be shown the way out. This is imperative if Nigeria is to get things right. Ike Willie-Nwobu, Ikewilly9@gmail.com

T H I S D AY ˾ THURSDAY, JANUARY 11, 2024

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

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

08056356325

J A N U A R Y

S & P INDEX

3 , 2 0 2 4

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 TO DATE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT MONDAY, JULY 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

NCC Declares Unauthorised Use of 5.4GHz Frequency Band Illegal, Moves to Sanction Erring Operators

Emma Okonji Following the global scarcity of spectrum and frequency band that are used for network deployment and expansion in the telecommunications sector, the Nigerian Communications Commission (NCC), has frowned at some operators who are transmitting telecoms signals on the available 5.4GHz frequency band, without being licensed to operate with same. NCC has therefore declared as illegal, the unauthorised use of 5.4GHZ frequency band, and has vowed to sanction any erring operator involved in such act. NCC further gave a 14-day enforcement notice for all illegal operators to vacate the 5.4GHz frequency band. Some range of frequency bands

that have been approved for use by the NCC, include: 67 KHz band, which covers 6765-6795 KHz band; 13 MHz frequency band, which covers 13.553-13.567 MHz band; 27MHz frequency band, which covers 26.957-27.283 MHz band; 40 MHz frequency band, which covers 40.66-40.70 MHz band; and 2.4 GHz frequency band, which covers 2.400-2.500 GHz band. NCC, in a statement published on its website, which THISDAY obtained, warned that severe sanction that could lead to imprisonment and confiscation of equipment used in operating such illegal services, would be meted on all telecommunications service providers, private-public organisations and individuals

using the 5.4GHz band without a frequency license obtained from the commission. According to the statement signed by the Director, Public Affairs at NCC, Mr. Reuben Muoka, “The Nigerian Communications Commission (NCC) hereby informs operators, private/ public organisations and the public that the 5.4 GHz frequency band spanning 5.430 - 5.725 GHz range is a licensed frequency in Nigeria. Therefore, the transmission of signals or use of equipment in any form on this band without a frequency license obtained from the commission is illegal. All telecommunications service providers, private/public organisations or any person(s)

using this band in any location across the country should note that pursuant to Section 122 of the Nigerian Communications Act (NCA 2003), it is a criminal offence to operate in any frequency not duly assigned by the commission. “The consequences of such act may lead to imprisonment, sanction and confiscation of equipment used in operating the illegal services. In view of the above, the commission hereby gives a 14-day enforcement notice to all unlicensed operators on the 5.4GHz frequency band, spanning 5.430 725GHz to, forthwith, vacate and desist from further transmission of signals or use of equipment in any form on the band without authorisation obtained from NCC.” Based on the enforcement notice,

NCC said that without further recourse and upon expiration of the stipulated deadline, it would commence appropriate enforcement action including, but not limited to, prosecution, fine, and confiscation of equipment used in the illegal transmission of services. The telecoms regulator advised all telecoms operators to acquaint themselves with the detailed regulatory provision for the deployment of services on the entire 5GHz band as contained in the Guidelines for Deployment of Broadband Services on the 5.25.9GHz band. Industry stakeholders have commended the move by NCC to sanction erring users of the 5.4GHz frequency band without licence,

adding that such unauthorised use of the frequency band, oftentimes, cause signal jam because of the heavy equipment that most of the unlicensed operators use for telecoms signal transmission. Some of the stakeholders who spoke to THISDAY in anonymity, blamed call divert and drop calls to heavy equipment used by unathorised operators, insisting that such heavy equipment are not meant for the Nigerian market, hence they cause frequency jam in the telecoms ecosystem, that leads to call divert and high drop calls experienced during the Yuletide season. The story continues online on www.thisdaylive.com

AMCRON: Political Actors Must Leverage Social Media to Enhance Good Governance

Emma Okonji

The Association of Media and Communication Researchers of Nigeria (AMCRON), has faulted Nigeria’s political actors, particularly the electoral body and political parties, for not tapping into the potentials of social media in strengthening democracy and providing good governance in the country and by extension, the African continent. AMCRON raised the concern about the relationship between the media and political actors at its

third International Conference and Annual General Meeting in Lagos, insisting that Nigerian political actors must leverage social media to boost good governance in the country. In a communiqué issued at the end of the two days conference, participants made resolutions regarding politics and governance, the role of the media, and the relevance of social platforms and emerging technologies. According to the communiqué, it is important to note that what has failed in Nigeria is not

democracy, but the operators of democracy, which has affected good governance in both the political and business circles. “A stable political environment is an indispensable ingredient of economic growth and development. Good governance as reflected in the areas of social, political, and economic advancement is a prerequisite for the attainment of a full-fledged democracy. There is a need to entrench the principle of majority rule, healthy intra and inter-party competition, free and fair election,

separation of powers between the Executive, Legislature and Judiciary, strict adherence to due process and the rule of law, and effective participation of civil society groups such as the media as well as civil rights organisations, as part ways of ensuring that all and sundry promote good governance and accountability in Nigeria,” the communiqué pointed out. On the relevance of social media and emerging technologies in political engagement, social mobilisation, and digital

governance, the conference resolved that the influence of social media on political participation, public discourse, and government responsiveness, is undeniable. The conference however said challenges related to misinformation and digital divides negatively affect the prospects of equitable and transparent governance on the African continent. “Social media has enhanced democracy in the digital age, and it has the potential for constructive deliberation in online forums. Organisations need to actively

leverage digital platforms in their Public Relation practices by being open to possibilities in the digital space, while being mindful of the risks of emerging technologies such as Artificial Intelligence (AI), Machining Learning (ML) and Robotics among others. There is a need for a global multi-stakeholder protocol to regulate AI, one where African countries like Nigeria have a say in policy outcomes,” communiqué further said. The story continues online on www.thisdaylive.com

M A R K E T D ATA A S AT W E D N E S D AY, J A N U A R Y 1 0 , 2 0 2 4 BONDS Change Updated Time DESCRIPTION Price Yield (%) January ^13.53 23101.49 12.13 -2,00 3, 2024 MAR-2025 ^12.50 22January 98.58 13.31 1,00 3, JAN-2026 2024 ^16.2884 17January 108.25 13.03 -1,00 MAR-2027 3, 2024 ^13.98 23January 101.70 13.42 -38,00 FEB-2028 3, 2024 ^14.55 26January 103.63 13.55 -96,00 3, APR-2029 2024

BILLS MATURITY

Discount Yield

Change (%) Updated Time

MATURITY

NTB 8-Feb24 NTB 7-Mar24 NTB 11-Apr24 NTB 9-May24 NTB 6-Jun24

2.14

January 0.00 3, 2024

2.91

2.93

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3.88

3.92

January 0.00 3, 2024

4.66

4.73

January 0.00 3, 2024

5.56

January -0.01 3, 2024

CRSL CP II 18-FEB-24 FLOURMILLS CP III 29-FEB-24 UACN CP VI 19-MAR-24 LFZC CP IV 16-APR-24 MTNN CP VII 14-MAY-24

5.43

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CPS Discount Yield 9.97

10.10

11.53

11.74

9.27

9.45

10.76

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9.31

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January 1,00 3, 2024 January 3,00 3, 2024 January 4,00 3, 2024 January -8,00 3, 2024 January -24,00 3, 2024

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

Updated Time

January 3, 2024 January 3, 2024 January 3, 2024 January 3, 2024 January 3, 2024

THURSDAY, JANUARY 11, ͰͮͰͲ ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Ikenna-Emeka: 5G Technology Will Address Digital Needs The Chief Broadband Officer, MTN Nigeria, Onyinye Ikenna-Emeka, speaks about the fast evolving nature of emerging technology and how 5G technology will address the human digital needs among others. Emma Okonji presents the excerpts:

Ikenna-Emeka Tell us more about the 5G technology. What is the difference between 4G and 5G technologies and why is MTN keen about 5G technology rollout? efore I discuss the 5G technology, I will like to talk about 2G, 3G and 4G technologies, on which the 5G technology was built upon. While the 2G technology is used to transmit information via voice signals, the 3G is used to transmit information like data transfer through video conferencing and multimedia services (MMS). 4G technology is for video streaming and high speed data connectivity, while 5G comes with higher data speed and with low latency. In the days of 3G technology, users could browse the internet at certain speed, send emails and download few files that are not too heavy. Users could also connect to social media like WhatsApp, Instagram, among others. From 3G, we moved to 4G, which comes with video streaming and download of heavy files at a higher download speed and connectivity speed with lower latency, which is the ability and time to complete a given task. So 5G was built on 2G, 3G and 4G technologies, with higher connectivity speed and with lower latency. 5G speaks to speed that is as high as 1Gigabyte with very low latency, which allows for massive number of devices and supports Artificial Intelligence (AI), Augmented Reality (AR) and other emerging technologies. With 5G, people can download very heavy files with lesser time. 5G has also brought technology to different sectors like the health sector, education sector, sports, telecommunications, among other sectors.

You have just explained how different technologies have evolved over time, from 2G, 3G, 4G to 5G. Why is technology evolving so fast, and what are the beneﬁts to users? Yes, technology is evolving very fast because it is the nature of technology to evolve fast. Again, technology is an enabler that addresses the human digital needs that are constantly evolving. The human race is consistently looking for new ways to become more economically viable. Humans have growing needs and they constantly seek better ways of addressing their needs with technology. For this reasons, technology is also evolving fast in order to meet the growing needs of consumers. With 5G technology, consumers can do more in less time, thus driving efficiency and expanding market horizon in real time. The 5G technology enables people to engage with others and transact businesses with others from remote locations without the physical presence of the persons transacting the business. MTN for instance, views its customers from the way they work, learn and play and uses technology as an enabler to help its customers do more in less time at

a very convenient way. If a small business for instance, have a challenge of access to market, MTN will offer such customer the technology that will enable it have unhindered access to market, even from the comfort of their offices or shops. So technology enables people to reach out to more markets globally than they even would have expect. Evolving technology comes with so much benefits for every user, and one of them is to position businesses in such a way that businesses can be accessible to all. It also provides the right platforms for people to access funds to grow their business. How will you describe evolving technology in relation to business sustainability and partnerships that work? Technology can help sustain business growth and it can open up business partnerships for those that adopt the right technology. Technology gives Small and Medium Enterprises (SMEs) the opportunity to have the right data connectivity, which is what 5G offers and the 5G technology is driving the fourth industrial revolution that is creating platforms for business partnerships, thus driving growth among businesses. MTN was the ﬁrst telecoms operator to carry out commercial launch of 5G in Nigeria in 2022, beginning with seven cities across the country, with a promise to expand to more cities. How many states and cities have been covered with MTN’s 5G network till date? When MTN launched its 5G network on a commercial basis in 2022, we started with 190 sites in seven cities, but as at the last check in December 31, 2023, we have expanded our 5G network to 1,600 sites across 20 cities in Nigeria, and we will continue to expand in 2024 to give access to more Nigerians to connect to 5G. We have since discovered that the 5G take-off across the cities has been commendable and welcomed by the people and we will continue to expand to other cities and building more 5G sites according to our expansion plans and the digital needs of the people. At MTN, we are passionate about driving 5G across Nigeria because we believe in Nigeria and Nigerians who are keen at benefitting from a modern connected life with 5G. MTN is committed to providing 5G access to the people, not just from a mobile broadband perspective, but also from the fixed broadband perspective, which we express through our Fixed Wireless Access (FWA) network. Having covered 20 cities across Nigeria with 5G as at December 31, 2023, what

are your plans to cover the entire country with your 5G network? Because of our belief and commitment as a telecoms company to offer the best customer experience to our fast growing customers, we have continued to offer the best connected services to our customers to enable them have the best connected lives ever. Based on our belief and commitment, we have continued to invest in our network and such investments will help us to cover the entire country with our 5G in few years time. MTN is investing in network infrastructure and we are continually laying our fibre optic cables and building more 5G sites across the country to achieve our network expansion plans. One thing that MTN prides itself in, is about our mix of technologies. We have a mix of 2G, 3G, 4G, and 5G technologies as well as other emerging technologies. We will continue to ride on our mix of technologies to deploy broadband connectivity across the country and we are very much aligned with federal government’s policy on broadband growth across the country. Given the poor infrastructural development in the country, coupled with the current 48 per cent broadband penetration rate, do you see the federal government achieving 70 per cent broadband penetration by2025 as enshrined in the Nigerian National Broadband Plan (2020-2025)? MTN as a telecoms company that is very much aligned with the vision and aspirations of the federal government in driving broadband penetration across the country. It is true that the federal government has an ambition to grow broadband penetration to 70 per cent by 2025 as contained in the Nigerian National Broadband Plan (2020-2025) and MTN strongly believes it could be achieved through collaboration. It’s not going to be achieved by one player alone, but through collaborative efforts of all players, riding on different technologies to achieve a common broadband goal. The different technologies include 3G, 4G, 5G, Code Division Multiple Access (CDMA), Fibre, including the satellite technology. A mix of all these technologies, coupled with other emerging technologies, driven by different players in the telecoms sector, will definitely help in achieving the 70 per cent broadband penetration plan by 2025. On the part of MTN, we are committed to playing our roles effectively to help the federal government achieve its broadband objectives. Our deployment and rollout of 5G in 20 cities within a period of 14 months, speaks volume about the MTN commitment to broadband penetration in Nigeria.

How will you compare 5G rollout in Nigeria with other African countries where 5G has been deployed in relation to spread, speed, latency and customer experience? A number of African countries have rolled out 5G in their regions, such as South Africa, Kenya, Rwanda, Uganda, among others, but it may be difficult to compare directly, the spread and speed of 5G that has been deployed in the various countries because of different factors that are peculiar to different countries and regions. We have factors such as population size, existing infrastructure, among other factors that are peculiar to certain countries. South Africa, for instance, has a massive fibre infrastructure layout in that country, so the spread of 5G in South Africa cannot be compared with the spread of 5G in other African countries that have less fibre infrastructure layout. Ubiquitous fibre infrastructure allows for higher speed of broadband connectivity, with lower latency. So a country with less fibre deployment will not experience the same broadband speed and latency with countries that have massive fibre deployment. Being the ﬁrst to roll out 5G in Nigeria, how did MTN use 5G to impact on businesses and the Nigerian economy since 2022 when it launched its 5G network? There is so much that MTN has done with the spread of its 5G in terms of impact on individuals, businesses and the economy since 2022, when we launched our 5G technology in Nigeria. The impact is both direct and indirect, and it has been massive. MTN has provided high speed broadband to different institutions and societies. We also have the fit for purpose broadband solutions for SMEs. We have the office broadband device that is designed to boost broadband connectivity in offices across the country. MTN also recognised the fact that devices matter a lot in accessing broadband connectivity, and decided to make routers available for fixed wireless access that are affordable and can be easily accessed by small businesses. In addition to that, MTN is into conversation with different sectors of the economy like the Oil and Gas, Education, E-commerce in order to provide solutions that are specific to them that will help them connect faster to internet. How will MTN position 5G to create more impact on individuals, businesses and the economy in 2024? One of the areas that MTN is targeting to drive broadband and 5G connectivity in 2024 is the home. So much data is consumed at home and MTN is consolidating on the homes to provide home-based solutions for families, the reason why MTN is riding on Continued on page 25

T H I S D AY ˾ THURSDAY, JANUARY 11, 2024

BUSINESSWORLD

BRANDS & MARKETING

AI, Reform Will Impact Marketing Communications in 2024 The advancement of Artificial Intelligence and actualisation of the marketing industry reform are among the major factors that will impact the marketing communications ecosystem in 2024, writes Raheem Akingbolu

ast year, conversations around marketing technology, advancement of Artificial Intelligence and the industry reform topped the chat in many fora, where issues related to the future of marketing in Nigeria were discussed. Under what was tagged ‘Intelligent Advertising’, many local and international scholars tried to unravel how AI-powered ads will reshape the market in the years ahead. At the twilight of 2023, the debate that trailed the popular Advertising industry reform, being championed by the Advertising Regulatory Council of Nigeria (ARCON), reached the peak with the decision of the Advertisers Association of Nigeria (ADVAN) to challenge the regulatory council in court over the reform. But at the 2023 National Advertising Conference, which was held last month in Abuja to stimulate the industry ahead the opportunities and prospects in 2024, stakeholders including the leadership of the five sectoral bodies, marketing communications scholars and representatives of the federal government, reiterated their support for ARCON over the reform. Speaking at the event, ARCON Registrar, Lekan Fadolapo while assuring practitioners that the industry will be redefined in 2024, said there was no going back on reform. “Though we have started enjoying some of the benefits of the reform, it will be total from next year,” Fadolapo stated. While charging practitioners to prepare well to support the FG’s drive to recover the economy, Fadolapo disclosed that research has shown that marketing communication as an economic activity is strategic to the growth and development of Nigeria’s economy. Thus, he confirmed the position of many experts that communication is the driver of a healthy and thriving society. In a telephone conversation with THISDAY, Fadolapo further confirmed that 2024 would witness a new order for players in the Marketing

Communications industry. “Practitioners are waiting for the full implementation of the industry reform this year. It will be a new order to reset the practice and the business. You will agree with me that the Bola Tinubu led administration is doing a lot to position the economy. The industry reform will surely aid the drive because it would lead to agency growth and standardisation of creative works, thereby impacting the economy positively,” Fadolapo further said.

CAPITAL FLIGHT

In view of the current development, ARCON reform will strengthen regulation and minimize capital flight in the marketing communications industry in 2024. In the last quarter of last year, the Advertising Offences Tribunal wielded the big stick and challenged some agencies over unapproved materials. For instance, ARCON, had in a summons dated December 19, 2023, directed the chairman of the Ambassadors College, Mr. Samson Osewa, to appear before the tribunal for publishing an advert that was neither vetted nor approved by the Advertising Standards Panel. The council had earlier in a statement advised advertisers to stop the capital flight and development of other countries’ economies by going out of the country to produce adverts meant for the Nigerian market, thereby killing the advertising industry. In 2022, ARCON disclosed that the Nigerian Advertising Industry loses over N120 billion annually to production of advertising, advertisement and marketing communication materials outside the country and stated that there must be 75 per cent of cumulative local content in advertising, advertisements and marketing communication materials aimed at the Nigerian market.

INTELLIGENT ADVERTISING

A former President of Experiential Marketers Association of Nigeria (EXMAN), Tunji Adeyinka, while speaking to THISDAY on prospect for 2024 admitted that the year would be a watershed in the IMC market in Nigeria as practitioners foresee some consolidation, by way of strategic partnerships across the different sectors. He also emphasised that AI and Marketing Technology would play vital roles. He said: “While we have been speaking about marketing technology and the advancement of Artificial Intelligence, this year we will begin to see more practical applications of AI into the marketing communications ecosystem. Economists have predicted that the Nigerian economy is still not out of the woods, so consumer purchasing power would be further impacted and this would affect marketing spend. Spend is going to be more result-driven and short term in scope and we believe that marketing functions that stimulate sales like Experiential would get an increase in spend because of this. Regulation would be a critical topic this year because of the planned implementation of the ARCON law.” As pointed out by Adeyinka, current developments in the industry have shown that Artificial intelligence is rapidly transforming the Nigerian content ecosystem, impacting everything from the way content is created and distributed to the way it is consumed and monetized. It’s believed that AI is having a profound impact on the Nigerian content ecosystem because it appears to be making it easier and more efficient to create, distribute, consume, and monetize content. This is leading to a more vibrant and diverse content ecosystem in Nigeria. Globally, almost all major platforms (Google, Facebook, Amazon) and independent

programmatic ones currently employ smart algorithms for ad campaign optimization. Meanwhile, Google recently climbed upon a completely new level of AI implementation in ad tech by introducing generative AI tools that can already replicate the work of professional marketing agencies.

EXPERT’S VIEW

Speaking on the likely trend in 2024, the President, Association of Advertising Agencies of Nigeria (AAAN), Steve Babaeko, said the optimism of creative agencies in the new year is buoyed by a hint of caution. “Anticipation surrounds the potential fruition of the president’s policies, particularly in crucial domains like exchange rate stability, inflation, and security, which could act as a much-needed remedy for our economic challenges. With fingers crossed, we anticipate a positive impact on the purchasing power of Nigerians. “However, a shadow looms in the form of a potential escalation in the global geopolitical crisis. Such external pressures could intensify the strain on an already fragile global economy, posing a threat to any local recovery in the initial two quarters,” he stated. Despite these concerns, the AAN leader said he remained optimistic about the resilience of the marketing communication industry, pointing out that navigating through uncertainties, is poised to weather the storm and emerge robust in the face of challenges. “Our mission is to consistently convey the fundamental values of brands to consumers, enhancing their confidence and aiding them in making well-informed purchasing decisions. Additionally, we’ve proposed a comprehensive rebranding plan for Nigeria to the Minister of Information. We are optimistic about implementing this initiative in the current year, recognising the vital support our nation requires,” he added

IKENNA-EMEKA: 5G TECHNOLOGY WILL ADDRESS DIGITAL NEEDS its home-to-home strategies to deliver 5G technology. In the area of education and entertainment, MTN intends to boost more access to broadband connectivity, riding on 5G network in 2024. What is your take on InfraCos that are supposed to provide infrastructure for telecoms operators to drive network expansion. Are the InfraCos living up to the expectations of telecoms operators? You are right to say that InfraCos are meant to provide infrastructure for telecoms operators to expand their networks and roll out telecoms services, because that is exactly their role. MTN is in collaboration with various InfraCos for specific operations. Most recently, MTN signed Memorandum of Understanding (MoU) with American Towers to help improve the MTN wireless connectivity across Nigeria. MTN sees the role of the InfraCos as key and MTN will continue to partner them for its 5G services rollout across the country.

How is MTN exploring new ways to get additional spectrum for its business expansion, judging from the scarcity of spectrum across the country? In terms of spectrum, MTN is very passionate about its network expansion, especially in the rural and underserved communities and we need additional spectrum to achieve this in order to add more value and enhance customer experience. We are consistently upgrading our existing network infrastructure to make sure we are able to improve on our capacity across the areas that we currently exist and also to reduce congestion on our network. Recently we acquired an additional spectrum, to ensure that we have more bandwidth that will allow us to provide better service quality and we look forward to acquiring more spectrums to expand our telecoms business.

Can you conﬁrm the rumours that MTN is in talk with 9mobile to acquire the telecoms company in order to have access to the 9mobile spectrum? What I can say is that MTN is exploring national roaming opportunities, in line with our strategies and commitment to provide network-as-a-service to the telecoms market. How will you address a situation where most of the low income earners and small businesses in the country strongly believe that 5G technology is exclusively for the elites in the society because of its tendency to consume more data, which is very expensive? This is one of the challenges that we face as business and we have been trying to address it. The first step that will make consumers enjoy 5G service, is the step to acquire a 5G enabled device, and MTN had since recognised that

the 5G enabled device is quite expensive and decided to launch with the mobile variant and the fixed wireless variant of 5G services, and this offers consumers the option to choose and make informed decisions. When people are at home and they need connectivity, the best option for them is the fixed wireless access, which allows users to connect easily with any kind of smartphone. Again, MTN partnered Original Equipment Manufacturers (OEMs) to ensure that 5G devices are affordable for SMEs and for low income earners. MTN also have different 5G data bundles ranging from the daily package, weekly package and monthly package, to serve all customers, irrespective of their financial capacity, in order to reduce the entry barrier and to enable them enjoy the high quality of 5G services that MTN brings.

THURSDAY, JANUARY 11, 2024 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 09Jan-2024, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 352.41 352.41 -88.57% Afrinvest Plutus Fund 100.00 100.00 9.94% Nigeria International Debt Fund 341.52 341.52 11.04% Afrinvest Dollar Fund 110.38 110.38 0.14% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.77% AIICO Balanced Fund 5.32 5.44 5.69% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.00% Anchoria Equity Fund 222.32 225.19 14.90% Anchoria Fixed Income Fund 1.33 1.33 3.94% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A ARM Short Term Bond Fund N/A N/A N/A AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.09 106.09 6.93 AVA GAM Fixed Income Naira Fund 1,175.45 1,175.45 10.51 AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 2.24 2.24 10.20% CEAT Fixed Income Fund 3.26 3.34 231.57% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 30.72035991 31.42569762 16.23% Women's Investment Fund 244.13 248.15 10.60% CHD Nigeria Bond Fund 102.66 102.66 9.45% CHD Nigeria Dollar Income Fund 1.04 1.04 9.08% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.09% Cordros Milestone Fund 182.88 184.26 5.76% Cordros Fixed Income Fund 107.80 107.80 4.76% Cordros Halal Fixed Income Fund 109.62 109.62 9.37% Cordros Dollar Fund ($) 114.55 114.55 5.76% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 9.31% Coronation Balanced Fund 1.67 1.68 8.99% Coronation Fixed Income Fund 1.44 1.44 N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Dollar Fund N/A N/A N/A FBN Smart Beta Equity Fund N/A N/A N/A FBN Specialized Dollar Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.96% Legacy Debt Fund 3.58 3.58 6.11% Legacy Equity Fund 3.08 3.14 10.98% Legacy USD Bond Fund 1.32 1.32 -1.14% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 6,480.92 6,535.64 N/A Coral Income Fund 4,006.50 4,006.50 7.95% Coral Money Market Fund 100.00 100.00 12.12% FSDH Dollar Fund 1.20 1.20 0.00%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 21.09 21.27 14.85% Meristem Money Market Fund 10.00 10.00 12.93% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) N/A N/A N/A Norrenberger Money Market Fund (NMMF) N/A N/A N/A Norrenberger Dollar Fund (NDF) ($) N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.61 2.65 12.32% PACAM Fixed Income Fund 12.02 12.26 30.63% PACAM Money Market Fund 10.00 10.00 0.00% PACAM Equity Fund 2.52 2.55 16.70% PACAM EuroBond Fund 131.15 134.35 -0.58% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund N/A N/A N/A SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund N/A N/A N/A STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 5,402.11 5,451.72 8.53% Stanbic IBTC Bond Fund 256.10 256.10 3.81% Stanbic IBTC Ethical Fund 2.29 2.32 11.35% Stanbic IBTC Guaranteed Investment Fund 355.93 356.12 0.76% Stanbic IBTC Iman Fund 414.21 419.48 9.83% Stanbic IBTC Money Market Fund 1.00 1.00 11.41% Stanbic IBTC Nigerian Equity Fund 21,030.54 21,290.13 15.95% Stanbic IBTC Dollar Fund (USD) 1.47 1.47 6.94% Stanbic IBTC Shariah Fixed Income Fund 128.52 128.52 6.34% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 126.22 126.22 8.39% Stanbic IBTC Absolute Fund 5,024.83 5,024.83 9.48% Stanbic IBTC Aggressive Fund 6,309.97 6,377.65 17.17% Stanbic IBTC Conservative Fund 5,638.44 5,664.81 6.68% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.55 1.56 13.74% United Capital Balanced Fund 1.99 2.01 7.75% United Capital Wealth for Women Fund 1.53 1.54 7.26% United Capital Sukuk Fund 1.18 1.18 9.31% United Capital Fixed Income Fund 1.95 1.95 7.51% United Capital Eurobond Fund 124.49 124.49 5.30% United Capital Global Fixed Income Fund 1.09 1.09 10.12% United Capital Money Market Fund 1.00 1.00 9.30% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund N/A N/A N/A Zenith ESG Impact Fund N/A N/A N/A Zenith Income Fund N/A N/A N/A Zenith Money Market Fund N/A N/A N/A VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 10.01 10.11 140.96% Vetiva Consumer Goods Exchange Traded Fund 11.68 11.78 99.17% Vetiva Grifﬁn 30 Exchange Traded Fund 29.48 29.68 57.63% Vetiva Money Market Fund 1.00 1.00 10.75% Vetiva Industrial Goods Exchange Traded Fund 28.19 28.39 17.72% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 3.05%

REITS NAV Per Share

Yield / T-Rtn

N/A 59.38 101.79 10.06

N/A 12.00%

Bid Price

Offer Price

Yield / T-Rtn

N/A 605.00 628.48 26.24 38.73

N/A 605.00 628.48 26.63 39.19

N/A 21.00% -12.35% 11.62% 2.86%

NAV Per Share

Yield / T-Rtn

108.40

N/A

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT

4.05%

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

I N F R AST R U CT U R E F U N D Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

T H I S D AY ˾ DAY ͯͯ˜ 2024

IMAGES

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: President, Odogbolu Grammar School Old Students Association (OGSOSA), Dr. Olumide Adesipe; Special Guest of Honour/alum of Odogbolu Grammar School ﬁrst set, Pa Babatunde Jaiyesimi; and Chairman, OGSOSA Project Rehabilitation Implementation Committee, OmoOba James Olusi, during the school groundbreaking rehabilitation ceremony in Odogbolu, Ogun State…recently

Secretary to Borno State Government (SSG), Alhaji Bukar Tijjani (right), presenting relief material to a beneﬁciary of the Federal Government Special National Economic and Livelihood Intervention programme, held in Maiduguri, Borno State…recently

L-R: Chief Superintendent of Police, AKA Shittu; Lagos State Commissioner of Police, Fayoade Adegoke (middle); and Commander of RRS, Yinka Egbeyemi, during the inspection of the Third Mainland Bridge by the police commissioner in Lagos...recently

L-R: Chairman, Nigerian Institute of Public Relations (NIPR), Lagos State chapter, Comfort Obot Nwankwo; Communications and Sustainability Manager, International Breweries Plc (IBPLC), Taiye Tunkarimu; Public Relations Manager, BDC Communications, Anthony Elikene; and immediate-past Chairman, NIPR, Lagos State chapter, Segun Mcmedal, at the LaPRIGA Awards in Lagos, where IBPLC bagged the Environmental and Sustainability PR Award…recently

L-R: Sector Commander, Federal Road Safety Commission (FRSC), Lagos State Command, Babatunde O. Farinloye, and Managing Director, Pernod Ricard Nigeria, Sola Oke, during the latter courtesy visit to FRSC oﬃce to kick oﬀ the Safe Roads Campaign in Lagos….recently

L-R: President, Lagos State Council, Boys Brigade of Nigeria, Segun Ladega; son of the deceased, Mr. Jide Martins Jr.; and Oﬃciating Minister, Rev. Olumuyiwa Awe, during the Night of Tributes and Songs in honour of the Founder of Bemil Nigeria Limited, Late Omo Oba Olajide Abayomi Martins, in Lagos…recently

L-R; Executive Secretary, National Universities Commission (NUC), Dr Chris Maiyaki; Minister of State for Education, Dr Yusuf Sununu; Minister of Education, Prof. Tahir Mamman; Chairman of the Committee, Prof. Jubrin Amin; and other committee members during the inauguration of the Committee on Degree Certiﬁcate Racketeering by both foreign and local private universities in Nigerian, held in Abuja…recently

T H I S D AY ˾ THURSDAY, JANUARY 11, 2024

HEALTH & LIFESTYLE

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

Prof. ChrisEsezobor:Tackling Kidney Diseases in Children Chris Esezobor, a Professor of Paediatrics and Paediatric Nephrology at the University of Lagos and a Consultant Paediatrician and Paediatric Nephrologist at the Lagos University Teaching Hospital, in this interview with Sunday Ehigiator sheds some light on kidney disease in children, prevention and even possible treatments. He also discussed Nigeria’s’ efforts towards reducing child mortality rate, the recent mass Exodus of doctors, his contribution to humanity, as well as his outlook for the Nigerian health sector for the year 2024 toll on medical research and advocacy for health.

As paediatrics and paediatric nephrology professors, brieﬂy describe your career progression and educational background. graduated MBBS from the University of Benin and obtained a fellowship in Paediatrics from both the National Postgraduate Medical College of Nigeria and the West African College of Physicians after undergoing specialist training in paediatrics at the Lagos University Teaching Hospital from 2003 to 2008. This was followed by paediatric nephrology training in South Africa, the UK, Portugal and Belgium. I joined the University of Lagos in 2010 as a lecturer 1 and rose to the position of Professor in 2020. I have also maintained a paediatric nephrologist role with the Lagos University Teaching Hospital since 2010.

In layman’s terms, tell us how a paediatric nephrologist is different from a paediatrician. Paediatrics is concerned with the health and well-being of children (those less than 18 years old). A paediatric nephrologist is specifically concerned about children’s kidneys. As mentioned in my educational background, a paediatric nephrologist must first train as a paediatrician. Statistically, how often do children suffer from kidney issues? It is difficult to put a number for many reasons, including underdiagnosis. In one of the research publications, we showed that about 10 per cent of children admitted to large hospitals such as LUTH have one form of kidney disease or the other. Generally, the more severe an illness is in a child, be it malaria, diarrhoea, or pneumonia, the more likely the kidney may become affected. So, kidney involvement is a marker of severe illness in a child. What are the major kidney-related issues that affect children? Common kidney diseases in children include acute kidney injury, nephrotic syndrome, acute glomerulonephritis, urinary tract infection, chronic kidney disease and congenital anomalies of the kidneys and urinary tract (CAKUT). Are they hereditary? Some children are born with kidney diseases like CAKUT. This does not necessarily mean they inherited the conditions. For many of these CAKUT, the heritability is unknown. However, most of the kidney diseases children suffer are acquired after birth. In newborns, for instance, perinatal asphyxia (not crying immediately after birth) and infection are leading causes of kidney diseases. What are some of the other predisposing factors? Lack of immunisation; delay in seeking healthcare for a sick child; indiscriminate use of drugs, both orthodox and unorthodox; lack of antenatal care; delivering outside hospitals; altogether, these vulnerabilities act in concert to make a child more likely to be ill and more likely to develop severe illness including kidney disease. How can this be prevented? Some can be prevented while others are not. Pregnant women should receive adequate antenatal care, deliver in places with skilled manpower; ensure their children get fully immunised; visit the hospital early when children are sick rather than self-medicate; and give oral rehydration solution for diarrhoea. Are there habits or diets children take that can expose their kidneys to danger? Too much salt in the diet, becoming overweight or obese, following a sedentary lifestyle and tobacco use are some of the habits that put everyone, including children, at risk of non-communicable diseases, including kidney disease. What are some of the early symptoms of kidney challenges in a child, and what should parents look out for? These include poor growth, poor/weak urine stream in a male child, swelling of the skin around the eyes, reduced urine volume, dark or bloody urine, excessively foamy or frothy urine, swelling of the abdomen and shortage of blood.

Prof. Esezobor What steps can parents take immediately if these symptoms are noticed in their kids? Visit the hospital as soon as these symptoms are noticed. Seek a second opinion from other hospitals if you are not convinced about the care you have received. How would you rate Nigeria’s’ efforts towards reducing child mortality rate? Using the UN report, major challenges remain with SDG 3; we are stagnating or progressing at less than 50 per cent of the required rate and ranked 146 out of 166 countries. To address our less-than-assured progress and ensure that countries like Nigeria do not prevent the world from reaching the SDG 3.2 goals, the world recently curated the Child Survival Actions to help countries like Nigeria accelerate progress to attaining the SDG for child health. Do you think Nigeria can meet up with SDG Goal 3 (end preventable deaths of newborns and children under 5 years of age) by 2030? That is 6-7 years away. According to the recent UN report on our progress, we need to do more if we are to meet SDG goal 3.2; we are, at best, crawling to meet this target. How can this be further strengthened? Scale up access to low-cost, high-impact interventions: scale up the percentage of pregnant attending antenatal clinic, scale up the number of deliveries attended to be skilled manpower, increase the proportion of exclusively breastfed children, reduce the number of one-year-olds who have not received a single dose of vaccine; reduce hurdles to access healthcare. This entails more efficient use of budgetary allocation, attracting a high-quality health workforce, and a multisectoral approach from all. Tell us about some of your contributions to the ﬁeld of knowledge and humanity? We showed for the first time in 2012 that the common causes of acute kidney injury (previously known as acute renal failure) in Nigerian children were infections, primary kidney diseases and malaria and that diarrhoea was no longer as prominent as previously reported. After several subsequent studies replicated the finding, that finding has become a settled fact. Recently, we elegantly showed, using the largest to date database, that our children with nephrotic syndrome (a kidney disease that presents with generalised body swelling and loss of large amounts of protein in the urine) frequently respond to steroids contrary to early assumptions. This is a key finding because children with nephrotic syndrome

who respond to steroids maintain good kidney function in the long term. Again, we published works showing that our children bedwet more frequently than children in developed regions of the world and that those with sickle cell anaemia were 2-5 times more likely to have bed wetting (enuresis). In LUTH, my team have established a thriving dialysis program for children; ours is one of only 1-2 centres in Lagos that provide dialysis for children as old as a few days. We run a one-stop clinic for children with diverse kidney diseases, and a twice-a-month clinic called the Children’s’ Continence Clinic for bedwetting in children. I have successfully supervised about 15 medical doctors who are now paediatricians. We are currently collaborating across the global north and south to understand the genetic underpinnings of nephrotic syndrome in children. Also, a key achievement of mine is the role I play as the Admin and logistic coordinator of the West African College of Physicians Doctors As Educators Program; we are entrusted with the mandate to train specialist doctors across the West African sub-region as effective and efficient medical educators; the program is called Doctors As Educators.

There are talks in some quarters for the introduction of a bill to mandate Nigerian Doctors to practice in Nigeria for at least ﬁve years post service years; what’s’ your take on this? The idea of such a bill points to a limited understanding of the issues fuelling the mass brain drain in the health sector. First, the loss of skilled manpower from Nigeria affects every sector. Ask the vice-chancellors of universities how many lecturers they have lost in the last three years. Ask those in the IT sector the same question. Currently, anyone of value is attracted to emigrate. Second, in the health sector, doctors and nurses are more likely to migrate over five years post qualifications; they have the knowledge, experience, reach and money to finance emigration. Third, does the bill intend to make reading medicine 12 years; five more years of provisional licence after 7 years of training to become a doctor? If they care enough to dig deeper, it will become evident that the interest in becoming a doctor has waned noticeably among our youths; those whose parents are doctors have learnt first-hand that investing in another career may be more fulfilling in terms of overall well-being and personal wealth. Fourth, many areas of Nigeria, especially the rural and insecure regions, are underserved in health; that crisis needs more urgent attention. They are underserved because health manpower would migrate internally to urban, more secure areas with more resources. The response of hurdling migration of doctors until 5 years post-graduation is symptomatic of a less than rigorous approach to solving matters of national importance What’s’ your outlook for the Nigerian health sector for the year 2024? The negatives (reduced government and family income, acute and deep shortage of manpower, fewer drug options due to exit of pharmas) are formidable. The positives include unveiling the Health Sector Renewal Investment Initiative to accelerate Universal Health Coverage. This would include reform of the Basic Health Care Provision fund. If the trajectory of recent years is anything to go by, then the outlook for the health sector in 2024 does not look great. Outside the theatre, who is Dr Esezobor? I am a financial investor. What’s’ your life mantra? “For all labour, there is profit”. How do you unwind? Cycling; Read investment articles; watch football; read productivity book.

Is there anything else not covered in the interview that you would like to share? Yes, the Paediatric Association of Nigeria (PAN) will be hosting its 55th Annual Scientific There is a surge in Nigerian Doctors, Conference, tagged Eko Akete, at the Oriental including surgeons leaving the country Hotel, Lekki, from 17-19th January 2024. I am for greener pastures; what’s’ your take the chair of the scientific subcommittee of the Local Organising Committee. During this on this? While the horde of doctors leaving the meeting, we will create platforms for academia, country hugs the headlines, the same is government agencies, developmental partners happening in the universities, IT, and and industry partners to review the current state financial sectors; skilled manpower is of child health in Nigeria and co-create strategies being lost daily from all sectors of the to accelerate progress towards attaining SDG knowledge ecosystem. Value seeks value. 3.2. The themes and sub-themes for PANConf The dominating narrative is that our society 2024 include the state of the Nigerian Child, no longer attaches a premium to its skilled zero-dose vaccinated Child, lessons learned from manpower; you see that in how the society the COVID-19 pandemic, ongoing diphtheria renumerates its manpower. As a professor epidemic and pandemic preparedness, adolescent at a premier federal university in Nigeria, addiction pandemic; safeguarding children at my monthly salary is less than 400,000 naira. home and on the Online expressway; manpower Thematically, the factors responsible for and infrastructure for optimal child care; the the massive brain drain are the push and business of medicine and the net impact of the pull factors. Unfortunately, our society ap- Japa syndrome on healthcare. We expect about 700 participants, most of them pears to be actively pushing its knowledge paediatricians. Dr Olufemi Mobolaji-Lawal will workforce to leave the country. deliver the inaugural Bolaji Ajenifuja Annual What does this portend for the Memorial Lecture, titled: Bringing down the elephant: key to improving the health status of the country’s health sector? Overall, it means suboptimal healthcare Nigerian Child. Confirmed speakers to date include for the Nigerian populace. Go to the private UNICEF, WHO, NCDC, NPHCDA, NPMCN, and public hospitals today, and you will NAFDAC, NDLEA, Bank of Industry, CECE hear tales of the populace not being able YARA Foundation, and PwC. More information to see the specialists they need promptly. about PAN and PANConf 2024 can be found The loss of manpower is also taking its on our website: https://panconf.pan-ng.org/

T H I S D AY ˾ THURSDAY, JANUARY 11 , 2024

NEWS

ReinforcingNNSWEY’sCommitmenttoHostCommunities In continuation of its drive to reinforce its commitment to its host communities in its Area of Responsibility, AOR, the Nigerian Navy Ship WEY, recently conducted a medical rhapsody, as well as environmental sanitation for Kirikiri Town residents in Oriade Local Council Development Area, LCDA, Lagos. Chiemelie Ezeobi reports that it went a long way to foster civil-military relations

L-R: Mike Anugwa, oﬃcer in charge of Kirikiri Minimum Custodial Centre; member of Oriade LCDA; Secretary of Oriade LCDA, Mr. Rasaq Akorede Olojede; Commander Nigerian Navy Ship WEY, Rear Admiral Mohammed Dahiru; Baale of Kirikiri Town, Chief Babalola Babatunde Shabe; DPO Kirikiri Police Station; Oﬃcer in Charge of Kirikiri Maximum Custodial Centre, DCC SO Balogun; and Balogun of Kirikiri, Chief Tajudeen Yusuf

Rear Admiral Dahiru with the Baale of Kirikiri Town and DPO during the medical Rhapsody

s part of measures to reinforce its commitment to its host communities, aimed at enhancing the well-being of the residents, promote cooperation, and contribute to environmental beautification, the Nigerian Navy Ship (NNS) WEY recently carried out a medical rhapsody as well as environmental sanitation for Kirikiri Town residents. The exercise featured a range of medical services starting with public health talks, vital signs check, blood pressure check, blood sugar checks, distribution of treated mosquito nets, eye test, dental checks, and even likelihood of surgery for chronic cases at the Nigerian Navy Reference Hospital inside NNS WEY. Also targeted at fostering civil-military relations, the Commander, Nigerian Navy Ship (NNS) WEY, Rear Admiral Mohammed Dahiru, who expressed appreciation at the cordial relationship between NNS WEY and its host communities, including Kirikiri Town, said the initiative was in line with the directives contained in the Chief of Naval Staff (CNS), Vice Admiral Ikechukwu Ogalla, Strategic Directive 2023-6. For Nigeria Navy Ship WEY that administers 10 barracks areas, Rear Admiral Dahiru said the outreach would touch other communities like he had promised last year when they carried out the first one near Navy Town, still in Oriade LCDA. Beside the environmental sanitation carried out by personnel under NNS WEY, naval medical personnel gave health talks, conducted pre-medical checks and

Commander NNS WEY presenting one of the mosquito treated nets to a resident of Kirikiri

provided essential treatments. Also, Rear Admiral Dahiru donated mosquito nets to the residents while pledging that the medical outreach would go beyond treatment on site. THISDAY further gathered that NNS WEY was prepared to offer surgery at no cost to patients whose cases were beyond what would be treated at the outreach. Admiral Dahiru particularly thanked the leadership of the Correctional Service represented by the duo of Officer in Charge of Kirikiri Maximum Custodial Centre, DCC SO Balogun and Mike

Anugwa, officer in charge of Kirikiri Minimum Custodial Centre, for allowing NN personnel access through the Correctional Service road to Navy Town from Kirikiri. The Commander stated that the NN is poised to foster the relationship with the host community as well as the paramilitary institutions, while pledging NN’s commitment to maintain the cordial and harmonious relations with its neighbours. Admiral Dahiru also called on the community heads to continue to impress on their members to maintain law and

order and be tolerant of NN personnel so as to maintain the cordial relations that exist between Kirikiri residents and the NN. Speaking on the sanitation, the commander said by clearing the drainages, they enhanced the environment’s aesthetics and also reduced mosquito infestation, adding that it also mitigated the effect of climate change. In an interview afterwards, Rear Admiral Dahiru reiterated the NN’s commitment to the welfare of the community, just as he expressed gratitude to the local government and traditional rulers for their support. Commending the move by NNS WEY, Executive Chairman of Oriade LCDA, Hon. Romotalai Akinola Hassan, who was represented by the Secretary of the Council, Mr. Rasaq Akorede Olojede, said it showed the harmonious relationship between the navy and the community. But beyond the outreach, he said the LCDA has been blessed to have the support of NNS WEY in terms of security and protection of lives and property of the respective communities. The Baale of Kirikiri Town, Chief Babalola Babatunde in turn thanked the NN, particularly Commander NNS WEY for choosing Kirikiri for the medical rhapsody and the community service. He assured the Commander that the cordial relationship between the NN and the Kirikiri residents will be sustained, adding that the exercise will further cement and foster the already existing cordial relations between the NN and the host community.

Mission Nine Zero: Maltina, Amstel Malta Lead Campaign on Abstinence from Alcohol During Pregnancy Rebecca Ejifoma Two brands from the stables of Nigerian Breweries Plc, Maltina and Amstel Malta, have launched an advocacy campaign to discourage alcohol consumption by pregnant women tagged ‘Mission Nine Zero’. Speaking during the flag-off of the campaign, the Managing Director of Nigerian Breweries Plc, Hans Essaadi, said the initiative was introduced in line with HEINEKEN’s vision to address pressing social and environmental challenges through its Brew a Better World (BaBW)

strategy. Essaadi explained that the campaign has become necessary to raise awareness among pregnant women about the dangers of consuming alcohol, which brings harm to unborn babies. He emphasised: “This campaign is not only focused on pregnant women but also a call to collective action against this growing societal concern. “This year, we continue to consolidate our existing BaBW initiatives by introducing Mission Nine-Zero aimed at curbing the detrimental effects of alcohol misuse, notably among pregnant

women.” According to the MD, alcohol consumption during pregnancy has serious health effects on children, which could affect the quality of life they will live. “As we all know, children are the future, and the onus is therefore upon us to protect that future by ensuring we deliver healthy babies while safeguarding the health of their mothers,” he said. In her remarks, the Corporate Affairs Director of Nigerian Breweries Plc, Sade Morgan, cited studies showing a prevalent rate of alcohol abuse

during pregnancy. She argued that the South-West region accounts for 12.7 per cent while 59 per cent of pregnant women from the South-South region consume alcohol. Morgan also explained that the campaign engages 500 direct advocates and 50,000 pregnant women t h ro u g h i t s Amstel and Maltina brands. She stated that despite obvious health issues such as low birth weight, preterm birth, and Fetal Alcohol Spectrum Disorder (FASD), some pregnant women consume alcohol owing to

traditional beliefs and cultural sentiments. The Chief Executive Officer of TL James Impact Consulting, Lola James, stated that the firm designed Mission-Nine Zero to ensure pregnant women are increasingly aware of the grave implications of alcohol consumption during the period of pregnancy. She stated that the campaign also empowers pregnant women, health workers and traditional birth attendants with the knowledge of the dangerous effects of alcohol consumption in pregnancy by making them ambassadors who

will take the message to other pregnant women in different states. The representative of Health Stream Medi-care, Dr Aderonke Alabi, is pleased that the initiative, designed to adopt a training-of-trainer model, has trained over 300 health workers in primary health centres and 300 pregnant women who visited the different primary health centres on the dangers of alcohol during pregnancy. Alabi revealed that alcohol use during pregnancy was capable of causing miscarriage, stillbirth, preterm birth, and sudden infant death syndrome.

THURSDAY, JANUARY 11, 2024 T H I S D AY

BUSINESS/MONEYGUIDE

PalmPay Urges Users to Revalidate KYC Ahead of January 31 Deadline

Emma Okonji

Ahead of the January 31, 2024 deadline given by the Central Bank of Nigeria (CBN) for existing users of Fintech companies to upgrade their wallets, PalmPay has urged its users to upgrade their Know Your Customer (KYC) details before the deadline. Fintech users affected by the CBN directive are grouped into three categories: New users are mandatorily required to provide their NIN and or BVN number for Tier 1 wallet opening. Those with an existing Tier 1 wallet but are yet to add their NIN or BVN have until March 1 2024 to do so.

All existing users across the three tiers, whose NIN or BVN information does not match, have until January 31, 2024, to revalidate. In response to the CBN’s recent directive on promoting financial system stability by strengthening the KYC procedures for customers, PalmPay released an updated in-app version that mandates all new users to input their BVN or NIN numbers before a wallet can be created. To upgrade their wallet KYC level using their BVN and NIN, PalmPay users are required to log into their app and follow the steps below: Managing Director, PalmPay, Chika Nwosu, had earlier

welcomed the CBN directive on all existing and new users having BVN or NIN. According to Nwosu, “We are committed to ensuring compliance and fostering a secure financial ecosystem. “As a forward-thinking Fintech platform, we believe that this measure will enhance the overall security of users’ wallets and the protection of users’ data while providing seamless financial services. “Through various in-app activities, we have always encouraged our users to link their wallets with their BVN or NIN. We are fully aligned to drive the new CBN directive.”

AI in Nigeria Set to Host Artificial Intelligence Summit AI in Nigeria will be hosting its Artificial Intelligence (AI) conference and Hackathon, tagged InnovateAI Lagos 2024. The conference with the theme: “Adapting AI for Nigeriacrafting Intelligent Solutions for Our Unique Landscape,” will explore the transformative power of AI in addressing the unique challenges and opportunities within the Nigerian context. Co-convener of the conference, Dotun Adeboye, expressed his

enthusiasm when he said that “InnovateAI Lagos 2024 is more than just a conference. It is a catalyst to eliminate silos in the Nigerian AI ecosystem as well as imbibing best practices from local and global thought leaders.” Another Co-convener, Ehia Erhaboh added, “We aim to localise AI advancement for Nigeria, ensure this 4th industrial revolution and general purpose technology for local

challenges. InnovateAI Lagos 2024 will showcase how AI can effectively address our unique challenges.” Conference sponsors include leading tech firms and academic institutions. A spokesperson from one of the major sponsors, said: “We are proud to support an event that not only highlights technological advancements but also focuses on practical solutions for Nigeria’s diverse economy.”

Yalo Partners FBRA, SBC with a Launch in Nigeria Raheem Akingbolu Yalo, a leading conversational AI platform, has officially launched in Nigeria through its partnership with the Food and Beverage Recycling Alliance (FBRA) and Seven-Up Bottling Company Plc. During the launch, Yalo’s North Latam, Africa, Middle East and Europe’s Sales VP, Manuel Centeno, expressed enthusiasm about the partnership and the potential impact on Nigeria’s environmental landscape. He stated: “We are glad to officially launch in Nigeria through our partnership with the Food and Beverage Alliance and 7-Up Bottling Company to promote a greener Nigeria. We believe that artificial intelligence is a necessity in today’s world and a catalyst for positive change, which is why we created our AI platform to create conversational solutions facilitating communication,

information dissemination, and engagement. We look forward to the transformative impact of this launch regarding waste management, recycling and sustainability in Nigeria.” Centeno highlighted the transformative potential of Yalo’s AI platform in waste management, recycling, and sustainability in Nigeria. Their conversational channel over WhatsApp, ‘Lapi’, aims to empower small stores, facilitate the collection and recycling of used plastic, and promote sustainability. Additionally, it introduces a reward system that fosters a circular economy, benefiting both the environment and the local economy. Executive Director of the Food and Beverage Alliance, Agharese Lucia Onaghise, emphasised the FBRA’s commitment to educating local communities about recycling practices and encouraging active participation in

environmental conservation. “Since the FBRA vision started in 2018, we’ve always been motivated by the desire to leave the environment better than we met it. This collaboration is a huge step in the right direction as it further cements the conviction we have for pioneering proper waste management practices and actively building a greener, more sustainable Nigeria,” said Arese. Managing Director of Seven-Up Bottling Company, Ziad Maalouf, underscored the importance of supporting the partnership with Yalo. He said: “We are proud to support the FBRA in the partnership with Yalo. Sustainability remains one of our core values, and we are taking meaningful steps to minimise our environmental impact. Together, we will inspire communities to take up responsible waste management practices, creating a lasting impact on our planet.”

Nigerian, Others Recognised as Global Market Research Legends The Chief Executive Officer of Pierrine Consulting, Seyi Adeoye, has been honoured as a ‘Global Market Research Industry Legend’ by ESOMAR and Insight250. The Global Market Research Industry Legend list include only the top 60 professionals in the market research space, among which only two persons were recognised in Africa. In a statement released on Friday, Adeoye pointed out that the recognition extended beyond personal achievements. According to him, the recognition was a result of innovation, collaboration, and unwavering pursuit

of excellence that defined Pierrine Consulting as a whole. “Throughout the year, Pierrine spearheaded transformative research initiatives in finance, food, beverage, and beauty, reshaping brand destinies and forging meaningful connections with consumers. “We expanded beyond our Lagos headquarters and established new offices in Ghana and Kenya, bringing our expertise closer to diverse markets and providing tailored solutions to local businesses,” he said. Adeoye admitted that the road to success did not only push for external boundaries

and the height attained, but also insisted that the commitment to excellence as evidenced by the retaining of the ISO certifications, and ensuring the highest standards of quality and integrity in its processes all led to the recognition. Speaking on the firm’s aspiration in 2024, he said: “Pierrine is unveiling a visionary future fueled by technology, for a future driven by technology, as they evolve into a formidable tech-focused consultancy, equipped to serve clients across the continent with even greater innovation and expertise.”

L-R: Director, Global Business Development, Chartered Institute for Securities & Investment (CISI), United Kingdom, Kevin Moore, Past President, Chartered Institute of Stockbrokers (CIS), Adedapo Adekoje, President and Chairman of Governing Council, Oluwole Adeosun, Chief Executive Oﬃcer, CISI, Tracy Vegro and Member, CIS, Sola Oni during the signing of MoU by CIS and CISI in the United Kingdom yesterday

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 29TH SEPTEMBER , 2023

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ DAY, ͯͯ˜ 2024

MARKET NEWS

Stock Market Depreciates by N639bn after Six-day Gaining Streak Kayode Tokede The Nigerian equities market yesterday depreciated by N639billion after six-day gaining streak that moved the market capitalisation to over N45 trillion. Specifically, the stock market that opened trading at N45.524 trillion in market capitalisation, dropped by N638 billion or 1.4per cent to close to N44.885 trillion.

The stock market the previous day appreciated by N1.6trillion as investors’ surge for large-medium stocks drove the overall market capitalisation to N45.524trillion from N43.957trillion. Despite dropping N639billion yesterday in market capitalisation, the stock market this week has gained N1.29trillion when it opened at N44.885trilliion. Consequently, the NGX All-

P R I C E S MAIN BOARD

F O R DEALS

Share Index yesterday dropped by 1,167.46basis points or 1.40per cent to close at 82,024.38 basis points from 83,191.84 basis points it opened for trading. The stock market downturn performance yesterday as driven by price depreciation in large and medium capitalised stocks amongst which are; MTN Nigeria Communications (MTNN), Zenith Bank Plc, Guaranty Trust Holding Company (GTCO) Plc,

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

QUANTITY TRADED

and United Bank for Africa (UBA) Plc As MTN Nigeria dropped by 4.41 per cent to N282.00per share, the stock price of Zenith bank was down by 9.93per cent to N42.65 per share. For GTCO, its stock price was down by 8.71 per cent to N44.00 per share, while UBA tumbled by 9.97per cent to close N29.35 per share. Analysing by sectors, the

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S O F

NGX Banking Index dropped by eight per cent, NGX Insurance dropped by 6.1per cent and NGX Oil & Gas also down by 0.4per cent, while the NGX Consumer Goods appreciated by 2.5per cent and NGX Industrial Goods gained 1.4per cent. As measured by market breadth, market sentiment was negative, as 13 stocks gained relative to 62 losers. Cadbury Nigeria emerged

J A N UA RY DEALS

the highest price gainer of 9.92 per cent to close at N19.95, per share. Veritas Kapital Assurance followed with a gain of 9.76 per cent to close at 45 kobo, while Linkage Assurance rose by 8.70 per cent to close at N1.50, per share. Transcorp Hotels increased by 7.24 per cent to close at N100.00, while Prestige Assurance added 6.00 per cent to close at 53 kobo, per share.

/ 1 0 / 2 4 MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

THURSDAY, ͹͹˜ ͺ͸ͺͼ ˾ T H I S D AY

ଂ

ଂ ଂ

7 R S 7 U D G H V E \ 9 R O X P H

7 R S * D L Q H U V T ic k er

P ric e C hg %

P ric e

P ric e C hg %

C A D B UR Y

19.95

9.9%

T R A N SC OR P

117.6

-9.9%

VER IT A SKA P

0.45

9.8%

A C C ESSC OR P

116.6

-6.2%

LIN KA SSUR E

1.50

8.7%

ST ER LIN GN G

116.3

-9.2%

7.2%

J A IZ B A N K

100.1

5.4%

T R A N SC OH OT

100.00

P R EST IGE

0.53

6.0%

A IIC O

91.8

-8.7%

B UA F OOD S

220.00

5.8%

FCM B

86.0

-9.8% -10.0%

J A IZ B A N K

2.93

5.4%

UB A

79.8

R T B R ISC OE

0.68

4.6%

UN IVIN SUR E

72.6

0.0%

CA P

24.00

4.3%

GT C O

70.5

-8.7%

M C N IC H OLS

1.03

4.0%

VER IT A SKA P

63.1

9.8%

7 R S 7 U D G H V E \ 9 D O X H

7 R S / R V H U V

Vo lum e

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

C A VER T ON

2.07

-10.0%

GT C O

3281.6

P ric e C hg % -8.7%

CHA M S

2.16

-10.0%

A C C ESSC OR P

3258.9

-6.2%

M A YB A KER

5.49

-10.0%

Z EN IT H B A N K

2461.8

-9.9%

C OR N ER ST

1.80

-10.0%

UB A

2427.4

-10.0%

F T N C OC OA

1.98

-10.0%

GER EGU

1693.4

0.0%

C ON H A LLP LC

1.35

-10.0%

T R A N SC OR P

1542.1

-9.9%

UB A

29.35

-10.0%

M TNN

984.0

-4.4%

IKEJ A H OT EL

8.69

-9.9%

FCM B

947.7

-9.8%

-9.9%

ST ER LIN GN G

775.0

-9.2%

-9.9%

F ID ELIT YB K

767.5

-8.6%

UC A P T R A N SC OR P

24.90 12.87

T H I S D AY ˾ ˜ ͹͹˜ ͺ͸ͺͼ

NEWS

INAUGURATION OF THE NEWLY RENOVATED, REFURBISHED NDLEA FORENSIC LABORATORY... L-R: Consular General, United States of America, Mr. Will Stevens; Representative of Chairman, National Drug Law Enforcement Agency, (NDLEA) and Director Media, and Advocacy, Mr. Femi Babafemi; Deputy Country Representative, United Nations Oﬃce on Drugs and Crime, Mr. Danilo Campisi; and Director, Directorate of Forensic and Chemical Monitoring, NDLEA, Margaret Ogundipe, during the PHOTO: ETOP UKUTT inauguration of the newly renovated and refurbished NDLEA forensic Laboratory in Ikoyi, Lagos.... yesterday

Tinubu, Sanwo-Olu Mourn Baba Adinni of Lagos, Sheikh Abdul-Hafeez Ashamu President says he'll be sorely missed Deji Elumoye ÓØ ÌßÔË President Bola Tinubu and the Lagos State Governor, Babajide Sanwo-Olu, yesterday, mourned the passing of the Baba Adinni of Lagos and Chairman of the Executive Council of Lagos Central Mosque, His Eminence, Sheikh Abdul-Hafeez Ashamu. The President, in a statement by his Media Adviser, Ajuri Ngelale, condoled with Baba's family, the Muslim community in Lagos, as well as the Lagos State Government over this very sad loss, saying he’d be sorely missed. Sanwo-Olu, on his part, described the death of the prominent Islamic scholar as a great loss to Lagos State, saying he’d be remembered for his sacrifice and commitment to peace and harmony. President Tinubu, who celebrated the legacy of service, duty, and sacrifice of Baba, who passed away at 100 years old, noted his extraordinary contributions to the

Muslim Ummah, Lagos State, and beyond. "Baba dedicated his life to the service of the people. He lived a full life guided by the highest and noblest moral codes. He was a fine example for all of us. “He will be sorely missed. We should take solace in Baba's legacy and uphold his values of honesty, dignity, and sacrifice," he said. The President prayed that Almighty Allah to grant Baba the highest station in Al-Jannah Firdaus. The Lagos State governor, in a statement by his Chief Press Secretary, Mr. Gboyega Akosile, also said the late Baba Adinni of Lagos lived an exemplary life of dedication to the cause of peace and harmony in the State. “It is sad that we lost Baba Sheikh Abou at a time, when his elderly counsel and guidance were needed more in our dear state. “But we are consoled by the good life that Baba lived, the legacy that he left behind and more importantly, we are guided

by the Holy Quran Chapter 2 Verse 156, which says 'Indeed, we belong to Allah, and indeed, to Him we return.' “On behalf of the people and Government of Lagos State, I

commiserate with the immediate family, friends, associates and the entire Muslim Ummah of Lagos over the passing of elder statesman and religious leader, Sheikh Abdul Hafeez Abou, who passed away

A High Court of the Federal Capital Territory (FCT), Abuja, yesterday, ordered the remand of a former Minister of Power and Steel, Chief Olu Agunloye, at the Kuje Correctional Center, Abuja. The remand order was pending the hearing and determination of his bail application. Agunloye, a minister under the administration of former President Olusegun Obasanjo and also a former Corp Marshall, of the Federal Road Safety Corps (FRSC), was recently arrested and detained for some days by the Economic and Financial Crimes Commission (EFCC) over alleged criminal offences. The Commission had said that it was investigating the former

minister over alleged corruption and fraud in the $6 billion Mambilla hydropower contract. But the minister denied the allegation and pleaded not guilty to all the seven-count charge bordering on fraudulent award of contract and official corruption. Following his not guilty plea, prosecution counsel, Abba Muhammed prayed the court for a trial date, adding that the defendant be remanded at the Correctional Center, pending commencement of trial. But Agunloye's lawyer, Adola Adedipe, informed the court that he had filed a bail application for the defendant and prayed the court to grant him bail and commit him to the custody of the EFCC. However, Justice Jude Onwuegbuzie, in a short ruling ordered that the former minister be remanded

“I pray that Allah grants the repose of the late Sheikh Abou Aljannah Firdaus, and grant the deceased family and loved ones the fortitude to bear the irreparable loss.”

Marwa: Newly Refurbished Forensic Lab Will Enhance NDLEA’s Performance Michael Olugbode ÓØ ÌßÔË

The Chairman of the National Drug Law Enforcement Agency, Brig.-Gen. Buba Marwa (rtd) has said that the upgrade of the forensic laboratory of the agency by the United States Bureau of International Narcotics and Law Enforcement Affairs (INL) will enhance operational standard and optimal performance. Marwa, who stated this at the commissioning of the agency’s newly refurbished forensic laboratory in Lagos yesterday, said if will further enhance evidence-based analytical processes in NDLEA’s

forensic analysis. “With this facility, we are now anticipating the provision of stateof-the-art analytical equipment, which will enhance optimal performance in line with standard operational laboratory procedures and best practices, which in turn will enhance evidence-based analytical processes in our forensic analysis,” he said. The project was facilitated by INL and implemented by the United Nations Office on Drugs and Crime (UNODC). The NDLEA boss who was represented at the event by the agency’s Director of Media and Advocacy, Femi

Court Orders Remand of Former Minister, Agunloye, at Kuje Correctional Center Alex Enumah ÓØ ÌßÔË

peacefully at the age of 100 years. “The late Sheikh Abou would be remembered for his great sacrifice and commitment to the cause of peace, harmony and moral development of our people.

at the Kuje Correctional Center, pending the hearing and determination of his bail application fixed for January 11, 2024. One of the count read: “That you, Olu Agunloye, whilst being the Minister of Power and Steel on or about the 22nd of May, 2003, in Abuja, within the jurisdiction of this honourable court awarded a contract, titled "Construction of 3,960mw Mambilla Hydroelectric Power Station on a Build, Operate and Transfer Basis" to Sunrise Power and Transmission Company Limited without any budgetary provision, approval and cash backing and you thereby committed an offence contrary to and punishable under Section 22(4) of the Corrupt Practices and other Related Offences Act, 2000.” Another count read: “That you, Olu Agunloye, on or about the

10th of August, 2019 in Abuja, within the jurisdiction of this honourable court, corruptly received the sum of Three Million Six Hundred Thousand Naira (N3,600,000.00) through your Guaranty Trust Bank account no.0022530926 from Sunrise Power and Transmission Company Limited (SPTCL) and Leno Adesanya for having conveyed the "approval of the Government of the Federal Republic of Nigeria for the construction of the 3,960 megawatts Mambilla Hydroelectric Power Station" in favour of SPTCL which you did whilst serving as the Minister of Power and Steel without the approval of the Federal Executive Council contrary to and punishable under Section 8(1)(a) and (b) of the Corrupt Practices and Other Related Offences Act, 2000.”

Babafemi, emphasised the importance of modern forensic laboratories to the successful fight against illicit drugs in the country. “Everyone who knows how pivotal a forensic laboratory is to drug investigations will share my sentiment. The forensic laboratory plays a critical role in the identification of drug exhibits, in the investigation of illicit drug manufacturing and the dismantling of clandestine laboratories. Ultimately, it reinforces the criminal justice system. “Over the last three years that I have been Chairman and Chief Executive Officer of NDLEA, there have been seizures of record quantities of illicit drugs, approximately 7, 590 tons. “ What is remarkable about these seizures is that they include not only substances already under national and international control but also an unexpectedly high number of new psychoactive substances and combinations of illicit drugs prepared by chemists working in clandestine laboratories. “These substances, constituting over 10,000 exhibits, found their way to the forensic laboratory for confirmatory analysis and identification. “The poor infrastructure of our forensic laboratory translated into inadequacy to cope with the volume of work on ground. It is against this backdrop that INL intervened to sponsor the upgrading of the laboratory to a global standard and expand its capacity to cope with the challenging dynamics inherent in the analysis of new psychoactive substances, amphetamine-type stimulants, synthetic cannabinoids, and fentanyl opioids,” he said. Marwa expressed appreciation to the US government for approving funding for the project. He said the project encompasses strengthening the forensic

and chemical analysis capacity of NDLEA; upgrading the interrogation room and provision of an e-library for prosecution. He equally commended the UNODC for painstaking implementation of the project. He said some other benefits of the project so far include: The training of 20 NDLEA forensic analysts on drug identification and safe handling of synthetic opioids and provision of safety bags consisting of Personal Protective Equipment (PPE). Also, he listed other benefits as supply of 20 test kits for drugs and precursor chemicals for field identification; supply of laptops, desktop computer, and other ICT accessories among others. Speaking at the event, the US Consul General, Will Stevens, highlighted the ongoing security cooperation between the United States and Nigeria. He said: “The global opioid crisis calls for a coordinated, comprehensive, and multidisciplinary global response. The US Mission in Nigeria has partnered with the UNODC and the NDLEA to modernise this chemical forensic laboratory in Lagos. “This $500,000 investment will ensure our Nigerian partners have the state-of-the-art equipment and training needed to identify and analyse suspicious substances and evidence collected from crime scenes and suspects. “We appreciate Nigeria’s strong regional leadership and commitment to work with us to combat this growing threat,” Stevens said. In his remarks, the UNODC Deputy Country Representative, Danilo Campisi, commended the partnership with the United States INL and NDLEA, which he said “continues to demonstrate the effectiveness of these types of interventions, implemented by organisations like UNODC.”

THURSDAY, ͹͹˜ ͺ͸ͺͼ ˾ T H I S D AY

NEWS

CUSTOMS DISPLAYING ILLEGALLY IMPORTED COMBAT-READY DRONES... L-R: Deputy Comptroller Martha Abubakar; Customs Area Controller, Murtala Muhammed International Airport Command Ikeja, Comptroller Charles Orbih; Deputy Comptroller of Customs Aliyu Shuaibu; Assistant Comptroller Dauda Kwasau; and Public Relations Oﬃcer, Tomo Juliana Fashua, all of the Nigeria Customs Service, Murtala Muhammed International Airport (MMIA) Command, Ikeja-Lagos displaying PHOTO: KOLAWOLE ALLI. seized illegally imported combat-ready drones and other items, during the press brieﬁng on the activities of the command held at MMIA, Ikeja, Lagos... yesterday

Daniel Bwala: I May Defect to APC to Give Tinubu Total Support Lauds president's suspension of Betta Edu Deji Elumoye in Abuja A chieftain of the main opposition Peoples Democratic Party (PDP), Daniel Bwala, has declared that he might defect to the ruling All Progressives Congress (APC) for him to support the administration of President Bola Tinubu. Answering questions yesterday evening if he was contemplating defecting to the APC after a close-door meeting with President Tinubu at the State House, Abuja,

Bwala said, "APC is a party. President Bola Tinubu is my motivation; if supporting him will take me to APC, so be it. “I told him today, I am committing to play my part to support your administration, and I have no apologies to anybody.” Bwala, an ardent critic of the APC and Tinubu government, had on January 2, 2024, said opposition political parties must form a strong coalition if they would successfully wrestle power from

the governing APC in the 2027 general election. He lauded the President's suspension of the Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu. “Some of his (Tinubu’s) ministers that were allegedly reported to have committed infractions, instead of protecting them, he asked that the law should have its own course and suspended somebody without wasting time. That, to me, is impressive because

it's about the people.” Commenting on Tuesday’s announcement of a 60 per cent slash in travel entourages for the Presidency and MDAs, Bwala said, “There has been this outcry that the government is bloated. Yesterday, he introduced a policy that reduced the cost of governance and today, he told me it is just the beginning.” According to him, the president assured him that more cost-cutting measures were underway to reduce

the cost of governance. “What have we been talking about as citizens is that if you don't have a personal grudge against someone…if it is a policy issue. “What I'm saying, apart from today that I'm talking here, is that you all need to visit my Twitter page. In the last few days, I have been expressing my surprise and appreciation to the president for

the decisions he is making. “So, this is not about political party. And you need to know that, like I said, I was with him before I left. And I was doggedly committed to him. “I told him today that I am committing to play my part to support your administration, and I have no apologies to anybody,” he further said.

Shaibu: How I Was Pressured to Join Obaseki’s Campaign Team in 2016 Says he spent his personal resources to get the governor elected Emma Okonji The Deputy Governor of Edo State, Mr. Philip Shaibu, yesterday said he used his political structure and personal funds to support the Edo State Governor, Godwin Obaseki, in his political campaigns after he was persuaded by party members, including the governor to help strengthen his team in 2016. Shaibu who spoke yesterday on the Morning Show on ARISE News Channel, the broadcast arm of THISDAY Newspapers, boasted that he has worked with Obaseki for seven years and has used that period to build a solid foundation for the state. “They saw me as grassroots person in Edo politics and I was persuaded to beef up the campaign team of Obaseki, who was not popular as at 2016. “ They needed a vibrant politician who had won election in the state before and who can add political value to the party, hence I was persuaded to run for the ticket of deputy governor, and I willingly accepted,” Shaibu said. Reacting to the claim that some political bigwigs do not want him to run as governor in the forthcoming election in Edo State because he is from

the same local government as Adams Oshiomhole, Shaibu said those making such moves were doing so for selfish reasons. He added that he has plans to begin work from the first year if elected as the next governor of the state. “That I am from the same local government with former Governor Oshiomhole, is not the real issue. The real issue is that the people of Edo State have experimented with Obaseki and they do not want to experiment again, hence they are rooting for me to become the next governor of the state. “ Obaseki is trying to bring an outsider to succeed him, and the people do not want an outsider and we will resist the move of the governor to impose an outsider on the people of Edo State. “I am running as the next governor of the state because the people of Edo State need me. I have told my supporters not to be allowed to be provoked by opposing forces, but to focus on electing me as their next governor. “I feel betrayed by Governor Obaseki, based on his actions which tend to oppose my political ambition. I added so much value in 2016 election

when Obaseki contested as governor and I was his deputy. “ During our second term campaign I also added value and I lost 20 per cent of my political capital while supporting Obaseki’s second term bid and together we fought against the godfather syndrome in the state. “Through my efforts, we won that battle, and now he wants to be godfather to a politician in the state, a struggle that we fought against in the past,” he added. He reiterated that he supported the second term bid of Obaseki his finance and political structure and contributed both in naira and in dollars. “So, if I said he betrayed me, its an understatement and I am not happy that he betrayed me, because I sacrificed my personal earnings to ensure that we succeed together,” Shaibu said. He however denied ever betraying Obaseki in their political struggles. He said Obaseki did not promise him the governor’s ticket in the upcoming election. According to him, there was no discussion in the past as to who will succeed him in 2024. He also accused those who felt that he betrayed Obaseki as being economical with the truth. “We all agreed to fight to-

gether but he is the one betraying me. Obaseki was among those that persuaded me to become his deputy governor, but he did not contribute to my political structure and he did not raise me politically, because I grew through the ranks,” Shaibu said. He promised to fix federal roads and build infrastructure in the state when voted as the nest governor of Edo state.

Bwala (L)visits President Tinubu, drops hint of joining APC to support administration

Igbinedion Picks PDP Governorship Nomination Form Adibe Emenyonu in Benin City A former member of the House of Representatives and the daughter of the Esama of Benin, Omosede Igbinedion, yesterday, picked the Peoples Democratic Party (PDP) nomination form for the September governorship election in Edo State. Omosede is the first governorship aspirant to purchase and collect the forms to contest the Edo election. She told journalists she was confident of winning the party primary election According to her, she was approached by elders of the PDP and other stakeholders to join the race because they believed in what she

could do. Should Omosede get the ticket of the PDP and go ahead to win the September 21 election, she would set a record in Edo State of a family producing two governors. She is a younger sister to Lucky Igbinedion, who was governor of the state from 1999 to 2007. According to her, “Our plan to win the party primary is on course. We are not perturbed about endorsement of any aspirant. Members of Edo PDP know me and I know them. “I do not believe the governor has endorsed any aspirant. If there is anybody to be endorsed, I believe it will be me because of my antecedent and records of performance in last

year’s general election. “I gave the PDP the best result in Edo South senatorial district. I am focused on what I want to do for Edo people. “I represent the women and the youths, Edo will make history if I am elected Governor. I have the largest support base, which is the women and the youths. We have been with the people and they know us. We are in this race to win. Edo needs a governor that will speed up development for jobs and wealth creation. “Our purpose in governance is to lift people. We will build infrastructure, we will build secondary schools and create enabling environment for businesses to thrive.”

T H I S D AY ˾ ˜ ͹͹˜ ͺ͸ͺͼ

NEWS

ANNUAL BAR DINNER... L-R: Past Chairman NBA Annual Law Week, Mr. Dayo Aimufumhe, Esq; Past Chairman NBA Benin Branch, Princess Pat Iyomo,Esq; Past Chairman, NBA Benin Branch, Prince Collins Ogiegbaen, Esq.; Chairman, NBA Benin Branch, Chief Nosa Francis Edo-Osagie Esq and Past Chairman, Annual Bar Dinner Committee, Mr. Chris Otasowie, Esq, at the spectacular Annual Bar Dinner of the Nigerian Bar Association Benin Branch held in Benin City... recently

Adamawa: S'Court Dismisses SDP's Appeal against Fintiri Reserves judgment in Ahiwe, Emenike's appeals against Otti Alex Enumah ÓØ ÌßÔË The Supreme Court, yesterday, dismissed the appeal by Umar Ardo of the Social Democratic Party (SDP) against the election of Umaru Fintiri as Governor of Adamawa State. A five-member panel of the apex court dismissed the appeal shortly after being withdrawn by the appellants. When the matter was called, a member of the panel, Justice Helen Ogunwumiju, drew the attention of counsel to the appellants, Sylvester Imanogbe, to the fact that the appeal was incompetent and a waste of the court's precious time. This, he said, was on the grounds that the petitioners did not only score a very insignificant votes of about 6,000 but did not show how the alleged noncompliance to the electoral laws and guidelines affected them or the outcome of the March 18 and April 16 rerun governorship election in Adamawa State. Taking the hint of the court that the appeal was incompetent and also not wanting to waste the court's time by arguing the case, Imanogbe made an oral application for the appeal.

Respondents in the appeal, however, did not object to the withdrawal and the presiding Justice, John Okoro, subsequently dismissed the appeal. Meanwhile, the apex court is yet to hear the appeal of Senator Aishatu Dahiru Benani of the All Progressives Congress (APC) against Fintiri's election. The Court of Appeal in Abuja had in November last year, dismissed the appeal by Ardo and the SDP, on the grounds that the appeal was incompetent and lacked merit. The three-member panel, in their judgment, held that there was no persuasive evidence from the appellants upon which they could set aside the judgment of the Adamawa State Governorship Election Petition Tribunal. Ardo, citing non-compliance with the Electoral Act, urged the tribunal to nullify the election of Fintiri as governor and conduct a fresh one. But the three-member tribunal led by Justice T. O. Uloho, dismissed the petition for being incompetent and not properly filed. Dissatisfied, Ardo approached the appellate court to ventilate his anger against the judgment of the tribunal,

which was, however, upheld by the Court of Appeal. Justice Ugochukwu Ogaku, who delivered the judgment of the Appeal Court agreed with the tribunal that the appellants did not prove the allegations of corrupt practices and non-compliance to the Electoral Act, against INEC, adding that there was no basis to grant the appeal. “This appeal is bereft of merit. The decision of the Tribunal dismissing the petition is hereby affirmed. The parties are to bear their costs,” the court held. Similarly, the apex court observed

that the case of the appellants was not worthy of the court's time and advised the counsel to withdraw the appeal. Meanwhile, the apex court has reserved judgment in two separate appeals challenging the declaration of Alex Otti as Governor of Abia State. Judgment in the appeals filed by candidates of the People's Democratic Party (PDP), Okechukwu Ahiwe and his counterpart in the All Progressives Congress (APC), Ikechi Emenike, were reserved shortly after their respective lawyers argued their

The Director, Conflict Research Network West Africa (CORN), Dr. Tarila Marclint Ebiede, yesterday, called on President Bola Tinubu, to go beyond the suspension of the Minister for Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, and completely overhaul the country’s social protection architecture. Ebiede, who lauded the president for promptly suspending the minister, recalled that the organisation had warned the president to be more vigilant on his social protection programmes as they were at the risk of being hijacked by politicians. The CORN boss in a release,

asked President Tinubu to digitalise the cash transfer programmes and strengthen accountability mechanisms in all social protection programmes being implemented by the federal government and its agencies. He also called on international development partners and private sector investing in social protection in the country to commit to strengthening social protection institutions by focusing on supporting state institutions with social protection mandates to deliver to the most vulnerable. According to him, President Bola Tinubu needed "to revisit the 2017 National Social Protection Policy (NSPP), including subsequent revisions in 2021, anchored in the

in the two petitions held that the allegations were not proved and subsequently dismissed them for being incompetent and lacking in merit. The Court of Appeal, after going through the appeals of Ahiwe and Emenike, concluded just like the tribunal that the separate appeals were incompetent and lacking in merit and also dismissed it for lacking merit. Dissatisfied, Ahiwe and Emenike filed the instant appeals at the apex court which have been reserved for judgment.

Lagbaja to Troops: Remain Loyal, Committed to Your Constitutional Responsibilities Kingsley Nwezeh ÓØ ÌßÔË The Chief of Army Staff (COAS), Lt Gen Taoreed Lagbaja, has charged troops of 82 Division, Nigerian Army (NA) and Joint Task Force South East Operation UDOKA to remain loyal and committed to their constitutional responsibilities in

order to guarantee the sovereignty and territorial integrity of the nation, as well as peaceful coexistence of the nation's citizenry. The COAS gave the charge during his operational visit to Headquarters 82 Division Nigerian Army. Addressing the troops, the Army

Beyond Suspending Edu, Overhaul Social Intervention Programmes, CORN Tells Tinubu Kemi Olaitan ÓØ ÌËÎËØ

briefs and were also countered by the respondents. INEC had declared Otti of the Labour Party (LP) winner of the March 18 governorship election, on grounds that he won majority of the lawful votes cast at the poll. Citing alleged irregularities, malpractices and noncompliance with the electoral laws both the PDP and APC in their separate petitions had approached the Abia State Governorship Election Petition Tribunal to seek the nullification of Otti's election. The tribunal in his judgment

Ministry of National Planning with the objective of ensuring policy coordination and coherence between the different federal government agencies involved in delivering the social protection objectives of the federal government. Ebiede specifically urged Tinubu to set up a framework within the federal government to ensure that all ministries, agencies and parastatals with a social protection mandate were working in a coherent and coordinated manner towards a shared objective of “promoting social justice, equity and inclusive productive growth” and “addressing poverty, unemployment, social and economic vulnerabilities, inequality, exclusion and other threats to

sustainable development.” Ebiede noted that the failure of the ministry to achieve its mandate would undermine peace building and worsen insecurity in the country as the number of vulnerable persons is increasing. "The allegations against the suspended Minister for Humanitarian Affairs and Poverty Alleviation validate the findings and arguments made by researchers at CORN’s Conference on Social Protection in Fragile and Conflict affected Societies in Nigeria. “The need for effective, efficient, and transparent management of resources allocated to the ministry to achieve its mandate cannot be overemphasised.”

Chief, who lauded the resilience and sacrifices of the troops, also cautioned them to not expose themselves to the negative influence of the social media. He said it was often times used to spread false and noxious information. He emphasised the importance of not letting themselves be manipulated into making misguided decisions or indulging in illegalities, contrary to extant regulations and core values of the Nigerian Army. He added that the Nigerian Army as a disciplined and noble profession had zero tolerance for illegalities and will remain an embodiment of discipline and would therefore, not tolerate any form of indiscipline from troops

as they operate in their respective host communities. The COAS informed that the federal government had made commendable interventions in the areas of troops' welfare and provision of combat enablers. He informed that the government had settled the backlog of unpaid Group Life Assurance that had accumulated since 2011. He also revealed that the Nigerian Army had equally commenced the payment of troops' Accident Insurance, adding that it was imperative for troops to reciprocate the motivating welfare interventions by remaining loyal, disciplined and upscaling their operational effectiveness in the fight against security challenges in the country.

Anyanwu Resumes Work as PDP National Secretary Chuks Okocha ÓØ ÌßÔË Less than 24 hours after a Federal High Court in Abuja affirmed his position as the National Secretary of the Peoples Democratic Party (PDP), Senator Samuel Anyanwu, arrived triumphantly into the party secretariat, where he was welcomed

by jubilating staff of the party Anyanwu, who arrived the PDP national secretariat at about 11am went straight into his office located at the second floor of the secretariat Justice Inyang Ekwo of a Federal High Court sitting in Abuja, had Tuesday, declared him the valid national secretary of the PDP.

THURSDAY, ͹͹˜ ͺ͸ͺͼ ˾ T H I S D AY

NEWS

MINISTER OF TRADE'S COURTESY VISIT TO BELOXXII CREAM CRACKERS... L-R: Director General, National Sugar Development Council, Mr.Kamar Bakrin; Managing Director, Beloxxii Cream Crackers, Mr. Obi Ezeude; Minister of Industry, Trade and Investment, Dr. Doris UzokaAnite; Director, Industrial Development Department, Federal Ministry of Industry, Trade and Investment, Mr. Muhammad Bala; and Director General, Standard Organisation of Nigeria, Chukwunazo Ifeanyi Okeke, during the minister's courtesy visit to Beloxxii Cream Crackers Factory in Agbara, Ogun State, yesterday

CNS Launches ‘Operations Delta Sanity’ Sylvester Idowu in Warri The Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, yesterday flagged-off "Operations Delta Sanity" in Warri, Delta State, as part of efforts to further combat crude oil theft and other criminalities in the nation's maritime space. Flagging-off the new exercise at the Nigerian Ports Authority (NPA) jetty, Admiral Ogalla said "Operations Delta Sanity" replaces "Operation DAKATAR DA BARAWO" that was launched in April 2022. He said the launch of ‘Operation Delta Sanity’ was timely considering the renewed effort of the federal government toward attaining sustainable development of blue economy. He recalled that the phased out ‘Operation DAKATAR DA BARAWO, was launched in a bid

the stem the tide of crude oil theft with support from the Nigerian National Petroleum Company Limited. Admiral Ogalla noted that the menace of crude oil theft and illegal bunkering had constituted a substantial threat to the nation’s economic development and prosperity and recalled that as at December 2021, Nigeria’s crude oil production had fallen from 1.579 million barrels in 2020 to 1.197 million barrels. "This loss was attributed to pipeline vandalism, crude oil theft and operation of Illegal Refining Sites (IRS). Accordingly, no effort should be spared in combatting oil theft which constitutes a grave national security threat," he said. The naval boss said that during the ‘Operation DAKATAR DA BARAWO,’ the Navy engaged in kinetic and non-kinetic initiatives across the Niger Delta and made

several arrests of vessels and crude oil and refined products. His words: "These include the landmark arrest of MT HEROIC IDUN in Aug 22, which prevented the possible theft of about 3 million barrels of crude oil. A total value of over N105 billion worth of crude oil and illegally refined petroleum products were seized during the operation. "As a result of the ‘Operation DAKATAR DA BARAWO’, as at September 2023, Nigeria’s crude oil output rose to 1.35 million barrels per day, from about 1 million barrels per day. It peaked at 1.57 million barrels per day in October 2023. "It is my singular honour and privilege to terminate ‘Operation DAKATAR DA BARAWO’ and Flag-off ‘Operation Delta Sanity’.” The CNS noted that, with the Blue Economy initiative, President Bola Tinubu sought to

Sugar Producers Agree to Nonincrement in Prices at Ramadan James Emejo in Abuja Major sugar refineries across the country have committed to suspend any increase in prices of sugar during this year’s Ramadan. The operators gave the assurance during a recent tour by the Minister of the Federal Ministry of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, of sugar facilities across the country. During her visits to leading sugar producers including Dangote Sugar Refinery Plc, BUA Sugar Refinery Limited, Flour Mills Limited, Bestaf Limited, Golden Sugar Company, and the Coca Cola Hellenic Bottling Company (CHBN), the minister observed a steadfast commitment to maintaining price stability. She said, "Rest assured, there will be no increase in sugar prices, especially during Ramadan." This appeared to be the commitment of the refineries to the minister to support the country during the significant festive period. The commitment aligns with the federal government’s agenda for food security and economic stability, and resonates strongly with the objectives of President Bola Ahmed Tinubu's 8-Point Agenda. The sugar refineries' pledge was a clear demonstration of their align-

ment with the government's efforts to bolster the agricultural sector and food security, key components of President Tinubu's transformative agenda. Anite said, "I have witnessed their dedication to high-quality sugar production. While commendable, our collective goal demands a higher standard." The minister in a statement issued by her Special Assistant on Media, Tolu Moyan, acknowledged the industry's efforts while emphasising the need for continued excellence and efficiency in production. Addressing performance concerns during her visit to Golden Sugar Company, the minister stressed that subpar performance in the sugar master plan would not be acceptable. The statement underscored the refineries' commitment to not only maintaining prices during Ramadan but also to enhancing overall productivity and efficiency in line with the government's vision. The sugar industry's commitment to price stability during Ramadan exemplified a synergistic relationship between the government and the private sector, working hand in hand to achieve common goals. The pledge by the sugar refineries, supported by the federal government's resolve, was a reassuring

step towards national development, the statement added. The visit served as a strategic platform for the minister to communicate the government's unwavering stance on elevating performance standards within the sugar industry, harmonising with the strategic goals embedded in President Tinubu's 8-Point Agenda.

maximise the nation’s potentials in deriving optimal benefits from Nigerian Maritime Environment for economic prosperity. The new initiative therefore beholds on the NN to rejig the ongoing anti-crude oil theft, anti-illegal bunkering and related operations. The naval boss thanked President Tinubu for his continuous support to the Nigerian Navy, noting that without him, the NN would not have accomplished the achievements recorded so far. Delta State Governor, Hon. Sheriff Oborevwori, who was represented by the Secretary to the State Government, Dr. Kingsley

Emu, thanked the Navy for the new Operation and promised to offer support. Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, thanked the Nigerian Navy for ridding Nigeria’s maritime environment of crimes. He noted that the navy had made giant strides in its maritime policing efforts in line with its constitutional mandate, especially through prevention of oil theft and others Lokpobiri urged all participating units and formations to vigorously and sincerely pursue the desired operational objectives of ‘Operation DELTA SANITY’ for enhanced the

nation's economic prosperity. "I equally solicit the support of all stakeholders and partners to the Navy so that we can derive optimal benefits from this noble initiative," he said. The CNS further inaugurated a building project at the premises of the Nigerian Navy Ship (NNS) Delta. In attendance were Commander, Joint Task Force (JTF), Operation Delta Safe (OPDS), Rear Admiral Olusegun Ferreira; Minister of Defence, Bello Matawalle represented by Director of Navy, Dr. Raji Ogunsola, Commander, NNS Delta, Commodore Chindo Yahaya.

Imo Sombre as Committee Rolls Out Uzodinma's Inauguration Plan Tony Icheku in Owerri There is no excitement in the air as Owerri, the Imo State capital awaits a huge turnout of politicians, notably from the ruling All Progressive Congress, APC, and other political heavy weights on Monday, January 15, 2024, for Governor Hope Uzodimma's inauguration for a second term. THISDAY gathered from sources close to the Inauguration Committee comprising over 100 prominent persons and chaired by former Senator Chris Anyanwu, that the inauguration would be preceded by a Thanksgiving Mass on Sunday, January 14, 2024, at Maria Assumpta

Cathedral, Owerri, to be presided over by the Metropolitan See of the Owerri Catholic Archdiocese, Most Rev. Dr. Lucius Iwejuru Ugorji. The swearing-in ceremony would be held at the largest sporting events centre in Owerri, Dan Anyiam Stadium, where preparations are in high gear for the event. A state banquet follows at Government House, Owerri, shortly after the inauguration. The Committee is Co-chaired by Chief Cosmas Iwu, Secretary to the State Government, who also doubles as Secretary of the Committee who has been mandated to mobilise party supporters across the 27 LGAs of the State.

Uzodimma's 540,308 votes, garnered across the 27 LGAs belie the sombre mood in the state after he was declared winner of the November 11, 2023 off-season Imo State governorship election, by the Independent National Electoral Commission, INEC. Uzodimma, an ally of President Bola Tinubu, is the current Chairman of the Progressive Governors Forum (PGF), a forum of Nigerian governors elected on the platform of the APC. Imo and Ebonyi States are the only two APC-controlled States in the South-East geo-political zone, thus the APC is expected to use the ceremony as a selling point as it ramps up its presence in the zone.

Abure: Obi, Edeoga Greatest Casualties of 2023 Electoral Fraud Chuks Okocha in Abuja The National Chairman of the Labour Party, Julius Abure, has identified the presidential candidate of the party in the 2023 general election, Peter Obi and the Enugu State governorship candidate, Chijioke Edeoga, as the two biggest casualties of the flawed electoral act in 2023. Aburi, however, appointed Edeoga into the team of the party's committee that would work for the reformation of the nation's electoral act. In a statement by the National Publicity of the party, Obiora Ifoh, Abure spoke when the Enugu State governorship candidate paid a 'Thank You' visit to the national headquarters of the Labour Party. Edeoga also gave account of how

he contested but was rigged out in the March 18th 2023 election by the collusion of the Independent National Electoral Commission, (INEC) and Enugu State government. Edeoga, according to the statement, said he was yet to come to terms with the final judgement against him even with the obvious evidence that supported his victory and pleaded with the party to support electoral act reform. "The electoral brigandage and vote rigging are the most dangerous things that can happen in a democracy. Because the people who vote are voting on the basis of their prayers, based on their frustrations, based on their expectations but as soon as they cast their votes, the votes disappeared.

“So, anything we can do to protect the sanctity of votes, we should do it. The votes means someone's approval for a candidate. It is more than a physical act. It is not just a symbolic act, it has a spiritual dimension,” Edeoga. He said, "After the Supreme Court judgement, many people have not come to terms with it. A lot of people are facing one ill health or the other. The judgement threw Enugu into a mourning condition. I have not come to terms with it and I will never come to terms with it. “But I have to come here to tell you that the ticket you gave me, I did not play with it, I did not trade with it, I did not bargain with it. I knew that my people entrusted their mandate to me but it was not

my fault, I tried my best. I came to say thank you. I came to say, I am here send me to continue the work of national redemption," he lamented.” Abure, in his response, said, "It is very clear that they robbed us of that election. It was done in collusion with INEC officials and PDP government in Enugu State. The whole world is aware of it. “Even before you spoke about electoral reforms the party has decided since last year that we are going to pursue electoral reforms in Nigeria. And that what happened to us in the general election will never happen to us again.” Abure said the only people that could pursue electoral reforms were victims of the process.

THURSDAY JANUARY 11, 2024 ˾ T H I S D AY

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JAIZ BANK EXECUCTIVES VISIT ASO VILLA…

L-R: Chief Strategy Officer, Jaiz Bank Plc, Abdulwahab Sadiq; Head, Corporate Communications, Halima Ishaq; Head Cost Control Nasiru Danmaliki; Managing Director/CEO, Jaiz Bank, Haruna Musa; Deputy Chief of Staff (DCos) in the Office of the Vice President, Ibrahim Hassan Hadejia; Executive Director (North) Jaiz Bank, Alhassan Abdulkarim; Acting Executive Director, Risk/Executive Compliance Officer, Jaiz Bank, Zara Ibrahim Musa, during a courtesy visit to the DCoS at the Presidential Villa in Abuja…yesterday

EndSARS Group Backs NBA’s Police Brutality Protest Today AyodejiAke The Social Intervention Advocacy Group Foundation (SIAF), which is the convener of the #EndSARS protest, had thrown its weight behind the planned peaceful protest of the Nigerian Bar Association (NBA), Lagos Branch, against police brutality. This is coming after the Nigerian Police Force (NPF), removed a Lagos Divisional Police Officer

(DPO) for allegedly detaining a lawyer who was seeking justice for his client. According to the circular making the rounds on social media, all lawyers in Lagos State were expected to join the peaceful protest against police brutality that would kick off today at the Ikeja Branch Bar Centre. While supporting the NBA, the President of SIAF, Mr. Segun Awosanya, who is known as

Benue to Improve Welfare of Teachers George OkohinMakurdi Primary school teachers in Benue State have been assured of improved welfare and better working conditions. Executive Chairman, State Universal Education Board (SUBEB) Dr. GraceAdagba, gave the assurance while addressing participants at a leadership training workshop jointly organised by the Universal Basic Education Commission(UBEC) and SUBEB for primary school head teachers in the Benue North-east Zone at Adikpo, Kwande Local Government Area and Benue South in Otukpo LGA . Adagba maintained that the

continued neglect of welfare and poor working conditions of primary school teachers has affected the standard of teaching and learning in public primary schools and assured that SUBEB under her leadership would accord priority to prompt payment of salaries and other welfare packages. The Executive Chairman while in Kwande Local Government Area also paid an unscheduled working visit to the Secretariat of the Local Government Education Authority where she decried the deplorable condition of the office complex and charged the acting Education Secretary, Mr Felix Iorliam to carry out a comprehensive cleaning of the office environment.

‘Osun APC Jittery of Aregbesola, Omoluabi’s Popularity’ YinkaKolawoleinOsogbo Omoluabi Progressives Caucus of the All Progressives Congress (APC) in Osun State formed by former state Governor, Rauf Aregbesola, has noted that the immediate-past state Governor, Gboyega Oyetola-led faction of the APC is jittery of the political strength and popularity of Aregbesola and the Omoluabi caucus, who has for decades been the pillar of progressive politics in Osun State. In a statement issued, signed and made available to THISDAY yesterday by Adelowo Adebiyi,

former chairman of the state APC, he said: “The purported litigation on Omoluabi was a clear case of frustrated individuals who had thought that their mischiefs, shenanigans and lies would have negatively affected Aregbesola’s popularity, but were surprised that his popularity and influence is waxing stronger.” He stressed that Omoluabi is now a household name in the progressive family and Osun State politics in general, and that that must have been giving the Oyetola-led APC headache to the extent of approaching the court on frivolous claims.

Segalink, noted that the lawyers have the constitutional right to stage a peaceful protest. Awosanya said: “SIAF supports the lawyers and hope the police will adhere to their standard operation

procedures to forestall a recurrence of the ugly incident. “I believe it is within the lawyers’ rights to protest as constitutionally guaranteed. An expression of discontent is not against the law and

it goes to show how unacceptable it is for the police to continue on the trajectory of impunity after what the nation had been through over the years on same matter and given the fact that the Police Act 2020 forbids

unprofessionalism on the part of the police towards the citizenry.” He, however, commended the NPF for the swift suspension of the DPO and also swinging into further investigation.

Boat Mishap Kills 11boat, inwhich Rivers, Fubara Commiserates with Families of Victims boarded about 25 have been recovered, eight still the only source of livelihood

Blessing Ibunge in Port Harcourt

Rivers State Governor, Mr. Siminalayi Fubara, has sympathised with the families of the victims of boat mishap which occurred on the Andoni - Bonny sea route in the state last Tuesday. THISDAY gathered that the

passengers en route Andoni to Bonny, had a serious wave attack within the Bonny axis, and resulted in the death of 11 persons. It was also gathered that 14 passengers were rescued by divers, while three dead bodies

missing as at the time of filing this report. A source very close to some of the victims disclosed that the incident claimed the lives of four children and a grandchild of two of the survivals. The source explained that: “The fishing boat, which is

for Mr. Ayayi Promise Festus from Ngo, carried 25 passengers, including his wife, Mrs. Rose Promise, four of his children and his little grandchild, and had departed Ngo town to Bonny, their settlement, around 2p.m. on January 8.

Zulum Assents 2024 Appropriation Bill of N358.7bn into Law Michael Olugbode in Maiduguri

The Borno State Governor, Professor Babagana Zulum, has assented to the 2024 Appropriation Bill of N358.7 billion passed by the Borno State House of Assembly with an adjustment amounting to

N18.1 billion With the increase in the budget size, the revised capital expenditure now stands at over N208.4 billion while the revised recurrent expenditure is N150.4 billion. The revised appropriation bill was presented yesterday

by the Speaker of Borno State House of Assembly, Hon. Abdulkarim Lawan, to the governor at the council chamber of the Government House in Maiduguri. Speaking at the event, Zulum charged heads of agencies and members of the State Executive

Council (SEC) to comply strictly with the provisions of the appropriation bill while presenting their memos for approval. The governor also commended the leadership and members of Borno State House of Assembly for approving the budget on time.

Man Sentenced to Life Imprisonment for Raping Six-year-old Girl in Niger Laleye Dipo in Minna A 55-year-old Niger State man, Yau Ibrahim, has been sentenced to life imprisonment for raping a 6-year-old girl in the Angwa- Daji area of Minna, the state capital. Apart from raping the minor on August 23, 2023, the convict also infected the victim with

“incurable venereal disease.” A Senior Magistrate, Hafsat Abdullahi Bawa Wuse, who handed down the judgment last Tuesday, rejected the plea for leniency by the convict, “because of the magnitude of the offence, as he deserves no leniency from the court.” She also attributed the

judgment to “the victim’s health status as confessed by the convict contained in the medical report, and the stigma the victim will carry for life as a result of the action. “The court hereby sentence you Yau Ibrahim to imprisonment for life for the offence of unlawful sexual intercourse with a child

punishable under Section 26 (2) of the Child Right Law 2021 as amended.” The police had arraigned the convict for having sexual intercourse with a 6-year-old girl and infecting her with sexually transmitted disease “which has permanently caused the little girl Ill- health.”

Edo Guber: Another PDP Aspirant, John Yakubu, Steps Down for Ighodalo Adibe Emenyonu in Benin-city The governorship aspiration of Dr. Asue Ighodalo in the upcoming Edo State governorship election on the platform of the Peoples Democratic Party (PDP) yesterday received a boost, as another governorship aspirant of the party, Mr. John Yakubu,

stepped down for him. Yakubu was a two-time chairman of Esan North-East Local Government Area of the state. It would be recalled that Senator Clifford Ordia; two former Speakers of the state House of Assembly, Friday Itulah and Marcus Onobun, representing

Esan West, Esan Central and Igueben federal constituency in the House of Representatives, and Mr. Kenneth Awolimen also stepped down last Monday for Ighodalo. Yakubu, who addressed journalists at Igueben, the administrative headquarters of Igueben Local Government

Area of Edo State, shortly after a closed-door meeting with the Edo Central PDP Special Committee headed by the former Foreign Affairs Minister, Chief Tom Ikimi, said he decided to step down for the interest of the party as well as the positive activities displayed by the leading governorship aspirant.

Kogi APC Vows to Sanction Members for Working against Party’s Victory

governorship poll in the state. this when he received the report the report and recommendation Oyewale in Lokoja The party also restated its and commendation of the 11- would be useful to the party. Gombe Gov Appoints Ibrahim He stated that the party The Kogi State chapter of the commitment to reward those man committee on the review Progressives Congress who were loyal to the cause of November 2023 governorship would look into the report and Special Advisers, DG, SSAs All reward those who worked hard (APC) has vowed to sanction of the APC to win the election election in the state. SegunAwofadejiinGombe

The Gombe State Governor, Mr. Muhammadu Inuwa Yahaya, has approved some key appointments to enhance the state’s administration and advance its development objectives. The Secretary to the State Government, Professor Ibrahim Abubakar Njodi, who conveyed the governor’s approval, said that the new appointments covered a spectrum of crucial roles, including security, social welfare programme,

gender mainstreaming, educational opportunities, administrative functions and technology-driven entrepreneurship. The new appointees are AIG. Zubairu Mu’azu (rtd) for Special Adviser on Security Matters;Aishatu Adamu, Special Adviser/State Coordinator for Social Investment Programme; Ms. Finney David, Special Adviser on Women Affairs/ Nigeria for Women Project and Ms. Amina Dahiru Usman Bauchi, Special Adviser on Almajiri and Tsangaya Education.

all errant members who worked against the party’s victory in the November 11, 2023,

in the state. The state Chairman of APC, Mr. Abdullahi Bello, disclosed

Bello commended the members of the committee for the job well done, noting that

for the success of the party, while those involved in anti-party activities would be punished.

Emerging Africa Capital Repays N1.6bn Series 3 Commercial Paper Emerging Africa Capital Limited (EACL) has successfully repaid the total sum of N1.655 billion Series 3 Commercial Paper, which was issued on July 12, 2023, on the Nigerian Debt Capital Market through FMDQ Securities Exchange Limited platform under its N15bn Commercial Paper Issuance

Programme. The 180 days Series 3 Commercial Paper was issued at a discount rate of 13.0982 per cent and achieved a 125 per cent -subscription rate, showcasing the confidence of investors in the company’s impressive profile and the ability of its management team

to deliver value to its stakeholders. Commenting, the Executive Vice Chairman/Group Chief Executive Officer of EACL, Toyin F. Sanni, expressed her satisfaction with the successful redemption of the N1.655 billion Series 3 Commercial Paper. She emphasised the company’s commitment to transparency and

trustworthiness in maintaining investor confidence in the Nigerian Debt Capital Market. Sanni extended her gratitude to all investors for their trust and confidence in the company, assuring them of the continued delivery of substantial value to stakeholders.

THURSDAY, JANUARY 11, 2024 ˾ T H I S D AY

GAMINGWEEK

Edited by NSEOBONG OKON-EKONG | ikotibok@gmail.com | Tel: 08114495324

How Wall Street Expertise Mitigates Sports Betting Volatility Davidson Abraham describes how the American financial services industry, better known as Wall Street, is helping to navigate the inherent volatility of sports betting, creating a more secure and potentially beneficial ecosystem for all participants.

he world of sports betting has long been associated with emotional highs and lows, wild swings of fortune, and an inherent dose of unpredictable chaos. But beneath the surface of roaring fans and nail-biting finishes lies a sophisticated game of risk management, increasingly fueled by the expertise of Wall Street veterans. Traditional bookmakers relied on intuition, experience, and a hefty dose of luck to balance their books. Today, however, major Wall Street firms are injecting the industry with their proven arsenal of quantitative analysis and risk management strategies. This influx of financial acumen is transforming the way sports betting volatility is handled, creating a more stable and sustainable ecosystem for operators and bettors alike.

‘ENTER THE QUANTS

At the heart of this revolution lies the power of data and sophisticated algorithms. Wall Street’s quants — experts in quantitative analysis — are applying their skills to the vast ocean of sports data. Historical performance, player statistics, weather patterns, and even social media sentiment are meticulously analysed to generate precise betting odds that reflect the true probability of outcomes. This datadriven approach helps mitigate impulsive decision-making and emotional biases, leading to more accurate and stable odds across the board.

HEDGING LIKE A PRO

Another key weapon in the Wall Street playbook is hedging. Similar to how insurance companies spread risk across

multiple clients, sports betting operators can offset potential losses by placing counter-bets with other operators or financial institutions. This intricate balancing act ensures that the operator’s overall financial exposure remains minimised even if one team pulls off a stunning upset.

BEYOND BOOKMAKERS

The benefits of Wall Street’s risk management expertise extend beyond traditional bookmakers. Financial institutions now offer complex financial instruments like sports betting derivatives, allowing investors to bet on the overall performance of leagues, teams, or individual players. These instruments provide alternative ways to capitalise on the sports betting market while spreading risk and mitigating volatility.

The charging bull statue on Wall Street symbolizes ﬁnancial growth and prosperity betting is not without its challenges. Concerns have been However, as with any raised about the potential for transformative force, Wall increased market manipulation Street’s involvement in sports and insider trading, especially

CHALLENGES AND CONCERNS

Akhenamen’s Impressive Journey to Transform Nigeria’s Gaming Industry Arguably, one of the most respected operators in the Nigerian gaming industry with an impressive track record, Charles Akhenamen, is posed to make a strategic job change in his continuing quest to shape a narrative that will undoubtedly alter the fabric of the Nigerian gaming industry., writes Iyke Bede The sports betting sector in Nigeria has experienced a remarkable surge in growth over the past decade. This growth is propelled by the growing interest in sports and coupled with an ever-evolving tech landscape. With a population known for its fervent passion for sports, particularly football, the industry has evolved into a dynamic arena where gaming enthusiasts engage in thrilling pursuits of chance. Amidst this vibrant landscape, Charles Akhenamen has emerged as a formidable figure, contributing significantly to the industry’s expansion through his visionary insights. With over 15 years of experience spanning diverse domains such as Operations, sales and marketing, channel distribution, and route to market, Akhenamen has played a pivotal role in navigating the complexities of the Nigerian gaming industry. His journey unfolds against the backdrop of an educational pedigree that boasts a BSc in Economics, an MBA, and a Doctorate in Business from Lagos State University. Since assuming the mantle of GM Operations and

Akhenamen Sales at Brentwood MultiServices Global Limited (Green Lotto) in August 2018, Akhenamen has been at the forefront, orchestrating strategic initiatives that not only capitalise on the growing interest in sports betting but also elevate Green Lotto to become a recognisable brand in the sector. At Green Lotto, he played a pivotal role in steering the strategic planning, operations management, sales, marketing, and

agent distribution network. His leadership was instrumental in propelling Green Lotto’s growth and expansion into major cities across Nigeria. U n d e r Akhenamen’s guidance, innovative strategies have been implemented to extend the brand’s reach and bolster revenue. Leveraging his extensive operations management and sales background, he has enhanced efficiency and fostered profitability within the organisation. His commitment to excellence is evident in his ability to drive tangible success for Green Lotto. One of his notable achievements lies in establishing a robust agent distribution network and solidifying strategic partnerships with key stakeholders. This has significantly increased Green Lotto’s visibility and accessibility to customers

nationwide, firmly establishing the company as a prominent player in the lottery industry. Before his current role, Akhenamen was the head of sales and Marketing for Gab Lotto Limited from July 2013 to May 2018. Before that, he was a regional sales manager at Premier Lotto, also known as Baba Ijebu. These experiences have collectively contributed to his in-depth knowledge of the Lotto and sports betting industry. His exceptional track record emphasises his ability to deliver results and align organisational efforts with business goals. Akhenamen’s dedication to ensuring top-quality gaming services for clients and partners reflects his leadership skills and his profound passion for the gaming industry. He stands as a trusted industry expert. In the coming chapters of this captivating narrative, Akhenamen is set to embark on a new journey as the Chief Operating Officer for a groundbreaking venture positioned to redefine the conventional lottery landscape in Nigeria. This pioneering

ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY

endeavour promises to be a game-changer, charting a course that transcends traditional norms and propels the industry into uncharted territories. With this impending endeavour, which will further extend his proven track record of strategic acumen and unwavering commitment to excellence, Akhenamen is poised to shape a narrative that will undoubtedly alter the fabric of the Nigerian gaming industry, setting new standards and ushering in an era of innovation and success.

with access to vast amounts of data and sophisticated algorithms. Additionally, the complex nature of financial instruments like derivatives can pose risks for unsophisticated investors.

FUTURE OF THE GAME

Despite the challenges, integrating Wall Street expertise into sports betting represents a significant step towards a more mature and sustainable industry. By injecting data-driven risk management practices and innovative financial instruments, Wall Street is helping to navigate the inherent volatility of sports betting, creating a more secure and potentially beneficial ecosystem for all participants. Ultimately, the future of the risk management game in sports betting lies in balancing innovation with responsibility. With continued regulatory oversight, ethical practices, and investor education, the expertise of Wall Street can help transform the sports betting landscape into a more stable and exciting arena for fans and investors alike.

GAMINGWEEK TEAM Nseobong Okon-Ekong ikotibok@gmail.com | 08114495324 Iyke Bede ikennabede@gmail.com | 0703 044 7714 Akeem Lasisi lasaisai@yahoo.com | 08023687884 Vanessa Obioha vaysylver@gmail.com | 08069838305 Davidson Abraham davisiano.adm@gmail.com | +971 56 744 6013

T H I S D AY ˾ , ͹͹˜ ͺ͸ͺͼ

THURSDAYSPORTS

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

0811 181 3083 SMS ONLY

Super Eagles Land in Abidjan, Hoping to Make Nigerians Proud Peseiro: 'We cannot makes mistakes. We want to win this first match'

Duro Ikhazuagbe Three-time African champions Super Eagles stormed the Ivorian capital, Abidjan yesterday for the 34th Africa Cup of Nations finals

AHEAD AFCON 2023 scheduled to kick off on Saturday. The chartered aircraft that conveyed players and officials of

the Super Eagles touched down at 11.23 am Cote d’Ivoire time (12.23 pm Nigeria time), with

the contingent dressed in Nigeria’s traditional white kaftan attire with matching cap. Their color and pomp matched the ambiance and flavor of the send-forth ceremony organised

for the team by the Lagos State Government on Tuesday night, with Governor Babajide Sanwo-Olu as chief host. Speaking shortly after Super Eagles light training session after

Lagos State Governor, Mr. Babajide Sanwo-Olu; Sports Minister, Senator John Owan Enoh, FIFA Council Member, Amaju Pinnick and NFF President, Alhaji Ibrahim Musa Gusau ﬂanked by Super Eagles players, oﬃcials and some top corporate players during the send-forth dinner for the team at the State House in Marina, Lagos ...on Tuesday night

their nearly two hours flight from Lagos airport, team’s Head Coach, Jose Peseiro, confirmed that it was neither tactical nor conditioning training. “It was just a light workout to relax the muscles. Don’t forget our strenuous long travel back to Lagos from Abu Dhabi,” observed the Portuguese gaffer. He affirmed that Super Eagles will have full training today ahead of their opening Group A clash with Equatorial Guinea on Sunday. Peseiro insisted that Nigeria’s first match against Equatorial Guinea was an important one for the team. “This match (against Equatorial Guinea) and next match (against hosts Côte d’Ivoire) are important for us. We cannot makes mistakes. We want to win this first match.” Interestingly, Equatorial Guinea who Eagles will play at the Alassane Ouattara D’Anyama Olympic Stadium in Abidjan on Sunday are not ready to play the whipping boys role of Group A. Nzalang Nacional as the Equatorial Guinea’s senior team are called, are hoping to repeat the feat of 2015 when they as hosts reached the semi final. They were quarter finalist at AFCON 2021 in Cameroon and only lost to eventual winners Senegal.

Sanwo-Olu, Enoh, NFF, Others Charge Eagles StarTimes Pledges Best to Win Fourth AFCON Title for Nigeria AFCON 2023 Packages Lagos State Governor, Mr. Babajide Sanwo-Olu and the Minister of Sports Development, Senator John Owan Enoh, have urged the Super Eagles to give their best to win the 2023 Africa Cup of Nations (AFCON) in Cote d'Ivoire. The governor and the minister spoke at the dinner organised to welcome Eagles back from their training camp in Abu Dhabi on Tuesday night at the State House in Marina Lagos. They charged the players and their handlers to make Nigeria proud at the 34th edition of the AFCON by winning the continental trophy for a fourth time, having previously won the title in 1980, 1994, and 2013. The Super Eagles, who were dressed in tops inscribed with the slogan 'Let's do it again' were in high spirits during the dinner attended by Lagos First Lady, Dr. Ibijoke Sanwo-Olu; Minister for Sports Development, Senator John Owan Enoh; President of the Nigeria Football Federation (NFF), Ibrahim Musa Gusau and his immediate predecessor Amaju

Pinnick, among others. Sanwo-Olu, who assured the Super Eagles of his support and that of over 200 million Nigerians, who will derive a lot of pride and joy in the team’s success at the AFCON, implored the Ahmed Musa-led team to work together as a team and not rely on individuals. “You (Super Eagles players) are the country unifiers; there is an excitement in the heart of over 220 million Nigerians. We believe we have men that can do it for us. Believe in yourself, and don’t give up in Côte d’Ivoire. “We can’t say we want to do it again by mouth; you must give your best, work as a team. It is not an individual sport; it is a team sport. Personally, I have committed myself that I will be in Abidjan for the games on Sunday and support the team. Earlier, Minister of Sports, Senator John Enoh, also charged the Super Eagles team to win the Africa Nations Cup. The Minister described the reception as a demonstration of support

the team has from Nigerians. "The outcome of the tournament will restore joy and happiness to homes. There is no better time for this team to conquer Africa and be at the top of African football. We need to win this for the country and President who is a sports enthusiast himself. The team is in high spirits and we are hoping to be the best," he said. He further urged the team to imbibe the spirit of resilience and togetherness in order to bring the trophy home. In an inspiring address during the team's farewell dinner, Senator Enoh emphasised the importance of wearing the Nigerian badge with patriotism at the tournament. The minister urged the team to embody the "never say die" spirit of Nigeria, reminding them to play not only for themselves but also for their families and the nation at large. "With over 200 million Nigerians eagerly watching and supporting, your performance holds the hopes and dreams of our entire nation,"

Elegbeleye: Eagles Victory Will Be Good for NPFL

Chairman of the Nigeria Premier Football League (NPFL), Hon Gbenga Elegbeleye, has urged the Super Eagles to secure the country's fourth Africa Cup of Nations (AFCON) title to expand the domestic football ecosystem. Elegbeleye spoke on the sidelines of the send-forth dinner for the team in Lagos on Tuesday night and noted that winning the title will trigger a domino effect of increased interests in football in the youth population. The NPFL Boss who also serves as the 2nd Vice President

of the Nigeria Football Federation (NFF) said success at AFCON will also stimulate football business in general as domestic and international investment in the sport will spike. "As it stands, there's growing interest in football among young boys and girls but winning the fourth AFCON title will energise more numbers and increase their appetite to be like their compatriots who made the success possible", remarked the former national parliamentarian.

"It is not in doubt that domestic football has been on the upward trajectory in terms of investments, especially in the league. Winning the AFCON will add impetus in our capacity to attract higher domestic and foreign investors because success is a magnate to industry". He noted that the NPFL board, clubs and their players would be routing for the Super Eagles, a reason for the rescheduling of Match-day 18 fixtures that clashed with Nigeria's opening match on Sunday.

he stated, highlighting the immense significance of the team's representation on the continental stage. Also at the dinner, President of the NFF, Alhaji Ibrahim Musa Gusau, told the audience that he had the assurance of the Head Coach, Jose Peseiro, and the top players that the Super Eagles were going on a mission to win a fourth AFCON title in Cote d’Ivoire. “I have spoken to the head coach and the captain, and also a good number of the players, and they have assured me of their determination to push strongly for triumph in Cote d’Ivoire, thereby winning the trophy for a fourth time,” Gusau said, adding that the NFF was grateful to President Bola Tinubu for approving funds for the team’s preparation and participation at the continental finals. Responding, Super Eagles Captain, Ahmed Musa, described football as the only sport that unites Nigerians. He assured all stakeholders that with the support and prayers of Nigerians, they will make the country proud during the Nations Cup.

One of the leading pay TV channels in the country, StarTimes Nigeria, has promised uninterrupted broadcast of the TotalEnergies CAF Africa Cup of Nations Côte d’Ivoire 2023 to its subscribers and mobile phone users through its app. Host nation Côte d’Ivoire will kick off the continental football showpiece against Guinea Bissau on Saturday, January 13 with the pay TV channel promising to air all AFCON 2023 matches live on Sports Premium, channel 252 or 246, on StarTimes as well as on StarTimes-ON app. In a groundbreaking move that redefined sports broadcasting on the African continent, StarTimes secured the rights to air the TotalEnergies CAF Africa Cup of Nations Cote d'Ivoire 2023 and all CAF Events held in 2024 in Anglophone and Lusophone countries in Sub-Saharan Africa, including CHAN 2024 and AFCON 2025 qualifiers. This strategic acquisition cements StarTimes' commit-

ment to delivering premium sports content to its viewers and reinforces its position as a leading player in the African media landscape. According to StarTimes, all the 52 matches will be aired live on Sports Premium, Sports Life and Beta Sports channels. PR Manager of StarTimes, Lazarus Ibeabuchi said yesterday: “AFCON is a celebration of African talents and passion, and we are proud to play a key role in delivering this experience to homes across the continent. Fans should expect uninterrupted fun on StarTimes. They can also watch the matches on StarTimes-ON mobile app.” The Africa Cup of Nations, organised by the Confederation of African Football, is the most prestigious football tournament on the continent. The broadcaster continues its partnership with CAF having successfully broadcasted the 2019-2022 AFCON and the 2020 CHAN.

Ikoyi Club Agog as Club Championship Gets Underway The Golf Section of Ikoyi Club 1938 is agog with festivities as the 2023 edition of the annual Ikoyi Club’s Club Championship; one of the longest running golf tournaments in the club gets underway on Friday, January 12th,through to January 14th, 2024, organisers of the event have revealed. The competition, which is already generating lots of interest within the Club is open to golfers with handicap range of 14 and below, and its expected to produce a winner who would be crowned as the Club Champion. To be played over 36-holes, the competition is expected to

be a keenly contested tournament. Though a competition of this nature throws the most unlikely winner, but analysts believe that low handicapped players and golfers with better course management ability hold the ace in this year’s edition. Thus, players like Mike Makinde; Nigeria Cup two-time winner, Tim Ayomike; former Club champion, 2010 winner; Peter Eben-Spiff, Tunji Adebayo; Also a former Champion, ever competitive Ewi Akpata are some of the players to watch out for in this year’s competition. The competition will officially tee off on Friday with Ladies,

Veterans and Men of handicap-15 and above. Saturday, January 13th will see gentlemen golfer filing out for their opening round. Sunday, January 14th is the grand finale. Speaking ahead of the competition, Chairman, Organising Committee of the event, Peter Eben-spiff thanked Nigerian Breweries, the tournament sponsor for their support for the tournament, saying the brewery giants are well appreciated. The Club Championship is a very important competition in most clubs, because it is an event that determines the best amateur golfer within the Club.

Thursday, January 11, 2024

UT H

& RE A S O

Price: N400

MISSILE

Pat Utomi to Political Class I can say without any feeling of wrong that we don’t have a political party in Nigeria today. What we have managed to couple together since 1999 have been platforms for machine politics where the game is about just grabbing power and sharing spoils—Convener of the National Consultative Front (NCFront), Professor Utomi, on the need to build strong and viable political parties in the country for democracy to survive and thrive

OLUSEGUNADENIYI Between the BBC and T.B. Joshua THE VERDICT

olusegun.adeniyi@thisdaylive.com

was taken aback on the evening of 9 January 2009 when my principal, the late President Umaru Musa Yar’Adua asked, “Who is Prophet Joshua?” I wasn’t sure how to respond in case the late cleric had been recommended to him. Apparently sensing my unease, he explained what led to the question. Following the Economic Community of West African States (ECOWAS) meeting which ended that day, he (Yar’Adua) had asked then president of Ghana, Professor John Atta Mills, to stay the night in Abuja so they could have dinner together. But the man insisted he would spend the weekend in Lagos with the said Prophet. “I have not heard the name before,” the president told me while reeling out the names of prominent Christian clerics in the country with whom he was familiar. With that, I felt comfortable enough to share what I had read and heard about the late Pastor Temitope Joshua whom I never met. What I found remarkable about the episode was that Atta Mills had only been sworn in as Ghanaian president five days before arriving Abuja for the ECOWAS session. Yet, he chose to spend the first weekend of his tenure in Lagos to attend The Synagogue Church of all Nations (SCOAN) thanksgiving service. “I am no stranger to the Synagogue. Indeed, I have been here very regularly. And I have known the man of God for more than 10 years,” late Atta Mills told the congregation on Sunday 11 January 2009 while crediting his victory at the polls to Joshua’s prediction. And we are talking about a professor of law who obtained his LLM from the London School of Economics and Political Science and PhD at 27 from the School of Oriental and African Studies. “Now, if there is anybody who does not believe in God, I would say our elections should change that person’s mind. God gave us more than we asked for,” enthused Atta Mills who then faced Joshua, “Man of God, I want to thank the Almighty for using you and many others.” From the late President Frederick Chiluba of Zambia to the recently ousted President Omar Bongo of Gabon, to former President Joyce Banda of Malawi, to South African Zulu King Goodwill Zwelithini, to the late former Zimbabwean Prime Minister, Morgan Tsvangirai, numerous African leaders (political and traditional) placed great faith in the late Joshua as their spiritual mentor. However, a new documentary by the British Broadcasting Corporation (BBC) has, to put it mildly, painted a rather unflattering profile of the cleric. Since the serious allegations are already in the public domain, I see no point in repeating them here. Although SCOAN has issued a rebuttal, arguing that the BBC turned “itself into a weapon for a hatchet job as gangsters in the garb of journalism with a destructive ulterior motive for personal gains against a perceived enemy”, the only official line in the documentary is that most of the allegations now being peddled were also levelled against Joshua when he was alive, and none was proven. That may not be entirely correct. In September 2014, for instance, there was a building collapse at the SCOAN headquarters in Lagos that claimed several lives, mostly foreigners.

Late T.B. Joshua

Following the tragedy, the late Joshua told tales of how he received a call that a mysterious aircraft was hovering over his prayer room before getting another call shortly after “that the jet has moved to the church and that was it.” Not only was his claim disputed, but the Lagos State Coroner’s Inquest also indicted the church leadership for “criminal negligence” and recommended prosecution for the death of 116 persons. 84 of those unfortunate victims were South Africans, 22 were Nigerians, two each were Beninoise and Togolese and one, Zimbabwean. The nationalities of five could not be ascertained. According to the Coroner’s Court, presided over by Chief Magistrate Oyetade Komolafe, the Church did not obtain the necessary permit or approval before commencing construction of the building. I am aware that the late Joshua means many things to many people. And I have seen some pushback against the BBC for airing the documentary. Incidentally, Pastor Chris Okotie of the Household of God had openly challenged Joshua’s doctrines and practices when he was alive, so controversy had always swirled around the man. My sister, Dr Abimbola Adelakun of the University of Texas, Austin, United States, also wrote several uncomplimentary articles about Joshua and his ministry. Now that he is late, what is being imputed by the BBC are serious crimes not only against Nigerians but also foreigners. It is therefore in the interest of our country, and SCOAN itself, that the allegations be fully investigated. It is also important to stress that until then, the late Joshua remains innocent in the eyes of the law. However, we should all be concerned about the role of religion in Nigeria. In September 2019, as many as 300 chained inmates, including children, were rescued

by the police from the ‘Sheikh Ahmad Bin Hambal Islamic School and Rehabilitation Centre’ in Kaduna State. It was a story that caught global attention as survivors shared sordid tales of torture, sexual exploitation and bestiality. Today, nobody knows what has happened to those hapless victims and there is no report that anyone has been brought to justice for the heinous crime against humanity. Four years ago, Dr Hadiza Kere Abdulrahman, a lecturer in Inclusive Education, Bishop Grosseteste University, United Kingdom, used the sordid Kaduna spectacle to explain the socio-political dynamics in Nigeria and the lessons we have all refused to learn. According to Abdulrahman, “the abuse found in these so-called ‘Qur’anic schools’ is replicated in several other contexts in Nigeria—in homes with people hired as domestic help being whipped for minor misdemeanors.” Such abuse, she further stated “is also replicated in other religious establishments where people are taken for deliverance, in Nigeria’s prison system where everything goes, and in government boarding schools which can sometimes be brutal. This abuse is seen even in the few government-owned rehabilitation facilities where inmates are shackled.” She then concluded: “It would be a mighty shame—and a missed opportunity—if Nigerians didn’t use the opportunity of the horror stories to take a hard look at themselves.” Of course, no lessons were learnt from that tragic episode and many already believe that the BBC documentary on Joshua may also compel no action. Yet, this should be another teachable moment. Just yesterday, Daily Trust newspaper published an investigative report on one Hassan Patigi, a preacher and exorcist who draws huge crowds in Kwara and Niger States where he abuses and defrauds the sick people he claims to be healing. Since African culture frowns at speaking ill of the dead, it is understandable that some would question the motive of the BBC in running a documentary on Joshua who can no longer defend himself. But those who follow the media outfit, and its crime investigation series, know there is nothing unusual about this episode. ‘The Reckoning: the horrendous true story behind the Jimmy Savile case’ for instance details allegations of sexual abuse against British television personality Jimmy Savile. It was only after his death in 2011 that numerous allegations emerged about his predatory behaviour, hence the posthumous documentary. Similarly, ‘House of Maxwell: Like Father, Like Daughter’ is about Ghislaine Maxwell, currently in jail for helping American billionaire, Jeffrey Epstein (who committed suicide in detention) to sexually abuse teenage girls. She is the daughter of the deceased (and disgraced) newspaper tycoon Robert Maxwell. Because the BBC documentary on Joshua is a media investigation, it does not on its own convict of guilt. But the allegations deserve to be properly investigated by appropriate authorities for the good of society. Beyond that, it is also important for the leadership of both the Christian Association of Nigeria (CAN) and Pentecostal Fellowship

of Nigeria (PFN) to be interested in this matter. There have in recent times been many reports of unwholesome practices by people who claim to be Christian clerics of various denominations. Many of the reports border on abuse of their members. Some are told to eat grass. Some are stamped upon. Some, especially female members, are made to unclothe before clerics who openly fondle their private parts. Tales of midnight ‘deliverances’ that end in bed abound. All these in the name of performing ‘miracles’ by perverts who prey on the ignorance and desperation of our people. This of course is not a new phenomenon, and the challenge is global. Literature that readers may find useful include ‘Soft Shepherd or Almighty Pastor: Power and Pastoral Care’ by Annemie Dillen and Cristina Traina’s ‘A Wolf in Sheep’s Clothing: Dealing Honestly with Pastoral Power’. Triana, whose thesis focuses on “the undeniable power of many kinds—social, ecclesial, and psychological, among others—that resides with the pastor,” argues that the unequal power relationship imposes both a measure of responsibility and duty of care. “When a person enters a church or a church-related environment and seeks direct help from and relationship with a pastor, in a very visceral way, God has been called into the conversation, too, and for some of the most broken persons, the minister’s words and God’s words become one and the same.” What the BBC documentary has shown quite clearly is that healthy boundaries must be set between clerics and members of their congregations. And that is where the problem lies in Nigeria. As we can see from other areas of our national life, boundary violations derive from unequal powers and to the extent that these dynamics are now very prevalent in the church, we must begin to deal with them. Overall, regardless of what anybody may believe concerning the allegations against Joshua, four critical issues have been raised. First is how easy it is for religion to mask sundry violations of human rights. Second is an unfortunate anachronism about our society. A supposedly modern nation based on rational principles is still chained to primordial superstitions and practices, patronized openly by those in power and the guardians of civic morality and conduct. And because of that, human rituals, recourse to strange ‘prayer sessions’, seeking occult solutions to basic human problems or health afflictions requiring simple medical cures, etc. are now the order of the day. Third, in Nigeria today, religion and politics continue to meet and mix. It is therefore little surprise that so-called men of God use the power of belief to chain their followers to degrading abuses just as spurious politicians hoodwink the poor and helpless to steal the commonwealth. Four, in a system where powerful people permit themselves the indulgence of operating above the law, those who are supposed to set examples for the rest of society can only end up as outlaws. When that happens, we are all losers. To change the narrative, we must begin to hold people in power—whether it be in the political, academic, business or religious realm—accountable for their actions.

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