MONDAY 16TH JANUARY 2023 by THISDAY Newspapers Ltd

CBN Tightens Noose on Money Launderers, Terrorism Financiers

Issues guidelines on beneficial ownership, says legal persons, arrangements susceptible to abuse Imposes responsibility to identify, manage related risks on financial entities

James Emejo in Abuja

The Central Bank of Nigeria (CBN) has unveiled an AntiMoney Laundering, Combating the Financing of Terrorism and

Countering Proliferation Financing of Weapons of Mass Destruction in Financial Institutions) Regulations, 2022, (CBN AML/CFT/CPF Regulations) to check abuses in the financial system.

The apex bank stated that the objective of the guidance was to assist financial institutions in identifying and verifying the Beneficial Owners (BO) of legal persons and legal arrangements

in line with extant anti-money laundering laws and regulations. The CBN in a circular dated January 12, 2023, and directed to all banks and Other Financial Institutions (OFIs), which was

to financial institutions under the regulatory purview of the central bank. The CBN defined BO as the

signed by the bank’s Director, Financial Policy and Regulations Department, Chibuzor Efobi, said though the guidance was not exhaustive and would be amended as necessary, it however applies

Continued on page 6

Atiku Appeals to Nigerians to Collect Their PVCs...

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Nigeria Records 29 Fresh Cases of COVID-19 in One Week WHO urges retention of facemasks Onyebuchi Ezigbo in Abuja The Nigeria Centre for Disease Control (NCDC) has reported 29 new COVID-19 infections recorded

across five states of Nigeria and the Federal Capital Territory (FCT). This is coming as the World Health Organisation (WHO) has advised all the countries to

continue to adhere to COVID-19 protocol on the use of facemasks by the public, irrespective of the local epidemiological situation. NCDC in an update released at

the weekend, noted that the latest report represented cumulative data for cases recorded in one week, from January 7 to 13. The report showed that while the

fatality toll remained 3,155, the newly and discharged 259,850 patients, confirmed cases have increased the according to the NCDC DirectorGeneral, Ifedayo Adetifa, who country’s cases to 259,858. As of January 10, Nigeria Continued on page 6 had tested 5,708,974 samples

Democracy Has Come to Stay in Nigeria, Irabor Declares Says military to back up police for smooth elections Clerics pray for peaceful polls Buhari reviews last Remembrance Day parade as president State governors pledge more support to military Deji Elumoye in Abuja, Segun James in Lagos, Kemi Olaitan in Ibadan, Ibrahim Shuaibu in Kano, James Sowole in Abeokuta and Okon Bassey in Uyo The Chief of Defence Staff (CDS), General Lucky Irabor, yesterday

declared that democracy has come to stay in Nigeria, pledging the military’s readiness to give the necessary support to the Nigeria Police and other internal security agencies to ensure a crisis-free Continued on page 6

Obi: How I’ll Address Ethnic OUR FALLEN HEROES... Agitations If Elected President... Page 12 REMEMBERING President Muhammadu Buhari laying a wreath during the celebration of the 2023 Armed Forces Remembrance Day in Abuja... yesterday

GODWIN OMOIGUI

MONDAY JANUARY 16, 2023 • T H I S D AY

T H I S D AY • MONDAY, JANUARY 16, 2023

PAGE SIX

Former AGF, Five SANs Warn FG against Plan to Frame, Detain Emefiele for Terrorism Allegations against CBN gov can only happen in a Banana Republic, says Falana

Alex Enumah in Abuja Six Senior Advocates of Nigeria (SANs), including a former Attorney General of the Federation and Minister of Justice, Adetokunbo Kayode, has warned the federal government against planned moves by the Department of State Service (DSS) to arrest and frame the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele on terrorism charges in flagrant disobedience of order of court. Equally speaking on the issue,

was human rights lawyer, Mr. Femi Falana (SAN), who described the allegations against Emefiele by the DSS as embarrassing, adding that it can only happen in a Banana Republic. The Department of State Services (DSS) had secretly approached a Federal Capital Territory High Court in Abuja to arrest Emefiele over alleged terrorism financing and economic crimes of national security, But Justice Maryam Hassan quashed the move. The judge thereafter barred

the DSS from arresting, inviting, or detaining Emefiele declaring the terrorism allegations against the CBN governor by the DSS as vindictive, callous, oppressive, void and of no effect. But the senior lawyers in a letter to the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, condemned the planned arrest of the CBN, stating that anything done without regard to the rule of law would affect negatively Nigeria's image internationally, as well as the President Muhammadu

Buhari administration. Besides Kayode, who doubles as a former Minister of Defence, the other SANs who signed the letter dated January 6, 2023, are Oba Maduabuchi, Emeka Ozoani, M.M Nurudeen, Abdul Mohammed, and Dr. Emeka Obegolu. A copy of the letter received by the office of the AGF on January 11, which was sighted by THISDAY, was titled: ‘Emefiele: Let the Rule of Law Prevail.’ The SANs claimed that they have observed moves by the DSS to still

proceed, sidetrack and disobey the court decisions and unduly and unlawfully interfere with Emefiele’s fundamental rights. They therefore urged the Attorney General of the Federation to use his good offices to guarantee and ensure that the government, especially the security agencies, observe the rule of law as a foundation of a democratic society by complying with court decisions. The letter read in part, "We are pleased to present our respect and best wishes to you. We are certain

that you have followed with keen interest the events of the last few weeks which climaxed with the dismissal by the Chief Judge of the Federal High Court of the application of the DSS to arrest and detain the Governor of the CBN, Mr. Godwin Emefiele, under the terrorism finance laws, etc., pursuant to unsubstantiated allegations of terrorism financing and other economic crimes with national security implications. We also note the judgment of the High Court of

celebration. He also inspected the Guards of Honour, accompanied by the Commander, Brigade of Guards, Major General Muhammad Usman, after which he proceeded to the Cenotaph for the wreath-laying Ceremony. Prayers were offered for the departed and their families by the Director Nigerian Navy Religious Affairs, Commander Robert Oparaji; Director of Islamic Affairs, Nigerian Air Force, Air Commodore Luqman Abiodun; and acting Director, Chaplain Services, Nigerian Army, Lt. Col. Bilson Newton. During the prayers for the fallen heroes and veterans, the clerics also prayed for peaceful elections and transition of power as well as a United Nigeria. Other dignitaries who laid wreaths after the President include Vice President Yemi Osinbajo; Senate President, Dr. Ahmad Lawan; Speaker of the House of Representatives, Hon. Femi Gbajabiamila; and the Chief Justice of Nigeria, Olukayode Ariwoola. Others included the Ministers of Defence and the Federal Capital Territory, Maj. General Bashir Magashi (rtd) and Muhammed Bello, respectively; Irabor; the service chiefs; as well as the Inspector-General General of Police, Usman Baba; among other top government officials. Buhari also performed the symbolic freeing of white doves out of the cage during the event. Meanwhile, in Lagos, Governor Babajide Sanwo-Olu promised the Nigerian Armed Forces that the state government would continue to give its support to the military, noting their role in the maintenance of the territorial integrity of the nation. Sanwo-Olu made the pledge during the grand finale of Armed Forces Remembrance Day ceremony held at the Remembrance Arcade, TBS, Lagos. The governor who was represented by his Deputy, Dr. Kadri Obafemi

Hamzat, said the state government appreciated the efforts of the military and other paramilitary agencies. He thanked the military for keeping the unity of Nigeria. In Oyo State, Governor ‘Seyi Makinde, admonished security agencies in the country to remain professional and neutral in the coming elections, saying that politics would go, but the country would remain. The governor stated this at the grand finale of the 2023 Armed Forces Remembrance Day, held at the Remembrance Arcade, Government House, Agodi, Ibadan. He promised to keep supporting and working closely with members of the Armed Forces and other security agencies in the state. A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that the governor equally performed the traditional wreath-laying during the celebration. In Kano, Governor Abdullahi Umar Ganduje, said the Armed Forces Remembrance Day was an important occasion meant to remember the enormous contribution of the fallen heroes who died in the service of the nation. Ganduje represented by his deputy and APC governorship candidate, Dr. Nasiru Yusuf Gawuna promised to continue to encourage and support both serving and retired members of the Nigerian Armed Forces in their effort to keep and secure the territorial integrity of the country. Similarly, in Edo State, Governor Godwin Obaseki, urged Nigerians to actively commit to the promotion of peace and unity in the country in respect of the sacrifices of the nation's fallen heroes. He said, “Today we are remembering those who have put their lives on the line to make sure that there is peace and this country remains united. It is important that we use today for reflection because it is about sacrifice. People have sacrificed and it is important that we reflect

on what they have done by also putting ourselves up for sacrifice.” Obaseki added, “Everybody wants to take from Nigeria but very few want to give back to Nigeria.” On his part, Ogun State Governor, Dapo Abiodun, called on Nigerians to always show acts of love and appreciation to the families of the fallen heroes who laid their lives for the unity of the country. Abiodun made the call at the Arcade ground, Oke-Mosan, Abeokuta, during the celebration of this year's Armed Forces Remembrance Day. While speaking with journalists, Abiodun asked Nigerians to inculcate a daily habit of showing love and appreciation to families of the fallen heroes, saying without them the country would not have enjoyed peace, order and socio-economic development. Also speaking on the occasion at Uyo, the state capital, Akwa Ibom State Governor, Udom Emmanuel, stressed the need for Nigerians to redouble efforts in showing undying gratitude to the family of the fallen heroes left behind. "We must improve the welfare of our soldiers, ensure that they live in decent environments and guarantee a future of growth and development to their children, who oftentimes bear the brunt of the sacrifices their fathers made in the service of the nation," the governor stated. Also speaking yesterday, at the Rear Admiral Ndubuisi Kanu Square, Owerri, the Imo State capital, Governor Hope Uzodimma made a case for the establishment of a body that would cater to the needs of fallen heroes of Nigeria. He said the setting up of a body like National Armed Forces Dedicated Fund (NAFDFUND) in the fashion of TETFUND would go a long way in dealing with cases relating to the welfare of families of officers and soldiers who lost their lives in the cause of national assignment.

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DEMOCRACY HAS COME TO STAY IN NIGERIA, IRABOR DECLARES general election in the country this year. Clerics also offered prayers for the fallen heroes and veterans, just as the widow of a fallen soldier, Cynthia Ubah, also called for speedy processing of the life insurance benefits and other entitlements due their grieving families. Also, as President Muhammadu Buhari yesterday reviewed the last Armed Forces Remembrance Day as his eight-year tenure as President ends on May 29, 2023, state governors, who also spoke in commemoration of the Armed Forces Remembrance Day, pledged to continue to give the necessary support to the military. Speaking after laying the wreath at the National Arcade, Abuja, to mark the celebration, Irabor said: "Be rest assured that the armed forces will remain solidly behind the police to give them all the support as required for the 2023 general election." Fielding questions from journalists about the military’s readiness for the forthcoming polls, the CDS said although the police would remain the frontline security outfit during the elections, the armed forces would support it from the rear. “I'm sure you know that the police are on the lead. I have been discussing with the IG (InspectorGeneral of Police) and of course,

we've also made contingencies should we be required to give support to the police as the election is conducted. “I think for Nigerians, be rest assured that the armed forces remain solidly behind the police to be able to give them all the support as required." He also assured Nigerians that the country’s democracy faces no threat from a military coup as witnessed recently in some West African states. “Democracy has come to stay. Government of the people, by the people and for the people in Nigeria has come to stay. That is an assurance,” he added. Irabor also described the ceremony as an occasion of gratitude that some Nigerians deemed their country as worth dying for. He said: “Remembrance Day celebration is not a day of mourning. It is the day that we need to give thanks to God; that men and women of this great nation once served, are serving and will continue to serve this country. “That we have that level of love for the country that men and women have committed to and, if need be, sacrifice their lives so that the rest of us can be alive. I think it's a worthy thing.” The widow of a fallen soldier, Cynthia Ubah, also called for speedy processing of the life insurance

benefits and other entitlements due their grieving families. Cynthia, who is the widow of Nigerian Air Force Squadron Leader Victor Ubah, who was killed in an ambush during a joint operation in Kebbi State on July 7, 2021, stressed that though she received her late husband’s benefits within one month of his demise, other late military personnel's families have not been so fortunate. She said: “It has started taking a longer time to compensate the families. Before, it used to take a shorter while. Now, families have to wait, keep waiting and keep calling. “Mine didn't take time thankfully. But I have seen others in this situation and they've been complaining that it has taken them a very long time. Mine was between a month and two. “But for some, it’s stretching to nine months to a year now, which is really not good for them. But I believe they (the military) are doing their best. Hopefully they get to settle these people.” Earlier, President Buhari reviewed the last Armed Forces Remembrance Day as Commander-in-Chief of the Nigerian Armed Forces as his eight-year tenure as President ends on May 29, 2023. He led senior government officials at the wreath-laying ceremony to mark the end of this year’s

CBN TIGHTENS NOOSE ON MONEY-LAUNDERING, TERRORISM FINANCING “natural person(s) who ultimately owns or controls a customer and/or the natural person on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate effective control over a legal person or legal arrangement”. It stated that in line with the Financial Action Task Force (FATF), consideration must be given to the “natural person(s) who have ultimate (actual) ownership and control over the corporate vehicle, not necessarily the legal owner, or the person(s) entitled on paper to do so, but natural person(s) who exert effective control over the corporate vehicle, or on whose behalf the transaction is being conducted”. Essentially, BO refers, among other things, to the natural person(s) who ultimately owns holds at least five per cent of the issued shares in the legal person either directly or indirectly; holds a right directly or indirectly, to appoint or remove majority of the directors or similar positions of the legal person, and on whose behalf a transaction is being conducted; and/ or who exercise ultimate effective control over a legal person or legal arrangement - exercise significant influence or control, directly or indirectly, over the legal person. Specifically, the guidelines apportioned responsibilities to financial institutions with respect to BO obligations. Therefore, in line with the provisions of the CBN AML/ CFT/CPF Regulations and global best practice, financial institutions, among other things, are required to identify and manage ML/TF/PF risks posed by legal persons and legal arrangements. They are also mandated under the regulations to understand the nature of the customer’s business,

its ownership structure; taking into cognisance the complex ownership structure where shareholders are multiple legal persons, or complex arrangements in different nominee shares, which when aggregated gives a controlling ownership in the entity. The CBN further stated that in such circumstances, the financial institution is required to identify the natural person(s) with ultimate control. The banks and OFIs are further required to identify and take reasonable steps to verify the identity of a BO, board members, senior management, settlor, trustee, beneficiary and other positions denoting control using relevant information or data obtained from reliable sources to satisfy itself that it has knowledge of the BO(s) of the customer; as well as apply Enhanced Due Diligence (EDD) on complex corporate vehicle structures that pose higher ML/TF/PF risks, Furthermore, the banks are to ensure that relevant authorities have timely access to BO information, and ensure records of all relevant documents used in determining the BO for legal persons or legal arrangements are kept and updated periodically. Also, financial institutions are to apply a risk-based approach in the identification and verification of BOs, adding that measures to be applied should be on the risk sensitive basis and should be set out in their AML/CFT/CPF framework. The regulation also mandates the institutions to conduct enhanced CDD on BOs that pose higher risk and file a suspicious transaction report with the Nigerian Financial Intelligence Unit (NFIU) if there are reasonable reasons to suspect money laundering or terrorism financing.

They are also required to establish AML/CFT/CPF internal policies and procedures to mitigate identified risks relating to BO; have effective systems to determine whether a beneficial owner is a politically exposed person (PEP) or a family member or close associate of a PEP. The new regulations provide that where a BO was determined to be in one of these categories, the financial institution must take additional measures to manage the risk. “Such measures include obtaining senior management approval before establishing or continuing with the customer relationship, establishing the beneficial owner’s source of funds and source of wealth, and conducting enhanced ongoing monitoring of the customer relationship,” the guidelines stated. In addition, financial institutions are expected to use the records or information collected through CDD or other sources to create a BO register of its customers that are legal persons and legal arrangements; ensure that the BO information in their register is periodically reviewed and updated annually or when there are changes, and flag and report inconsistency or discrepancies between the BO information in the public register and the BO information in their records to the Corporate Affairs Commission (CAC). Moreover, the central bank also mandated the banks to provide, on request, information on BOs to the CBN and other competent authorities identified under the MLPPA, and to render periodic returns to the CBN on their customers along with details of beneficial owner(s) that are legal persons and legal arrangements in the prescribed format and frequency.

NIGERIA RECORDS 29 FRESH CASES OF COVID-19 IN ONE WEEK confirmed at a press conference in Abuja that the centre was on red alert ,following the global concerns about new strains of the pandemic. The disease control centre had recently warned about the resurgence of coronavirus in China and the increase in hospitalisation and death in the UK and the USA, driven by the usual winter exacerbations of respiratory illnesses. The disease control centre reported that countries such as China, the United States of America (USA), the United Kingdom (UK), South Africa and India, were battling with the rise in Omicron SARS-CoV-2 variant and its lineages, which dominated recorded infections worldwide. NCDC, however, said the sublineages partly responsible for the current increase in COVID-19 cases in these countries (XBB.1.5 and BF.7) had not yet been detected in Nigeria, noting that “the B.5.2.1 has been seen since July 2022 and the others are most likely here already.” It further noted that since the detection of the Omicron variant in December 2021, its sub-lineage (BQ.1/

BQ.1.1) has dominant in Nigeria, but “none of these dominant sub-lineages in Nigeria that are also circulating elsewhere has been associated with any increases in case numbers, admissions, or deaths locally.” The breakdown of the NCDC data shows that Lagos State, the epicentre of the disease in the country, topped with 15 infections, followed by the FCT and Kwara State with five and four cases, respectively. While Nasarawa State recorded three infections, Kaduna and Plateau states recorded one case each. The disease control centre added that the, “multi-sectoral national emergency operations centre (EOC), activated at Level 2, continues to coordinate the national response activities.” Meanwhile, WHO has advised all the countries to continue to adhere to COVID-19 protocol on the use of facemasks by the public irrespective of the local epidemiological situation. WHO said the recommendation for continued use of masks has become necessary given the current threat of the COVID-19 virus globally.

According to the latest update issued on the guidelines on masks, treatments and patients care, the world body said at the weekend that masks were recommended in situations where one needs to avoid exposure to COVID-19, when someone has or suspects they have COVID-19, when someone is at high-risk of severe COVID-19, and for anyone in a crowded, enclosed, or poorly ventilated space. WHO said the guidelines on mask wearing were for community settings, COVID-19 treatments, and clinical management. “WHO continues to recommend the use of masks by the public in specific situations, and this update recommends their use irrespective of the local epidemiological situation, given the current spread of the COVID-19 globally. “Masks are recommended following a recent exposure to COVID-19, when someone has or suspects they have COVID-19, when someone is at high-risk of Continued on page 10

MONDAY JANUARY 16, 2023 • T H I S D AY

T H I S D AY • MONDAY, JANUARY 16, 2023

NEWS

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

FIFTH YEAR ANNIVERSARY... L-R: Vice President Olam, Ade Adefeko; former Chief of Naval Staﬀ, Vice Admiral Adekeye; his wife, Fatima; Managing Director AT3 Resources, Tosin Adefeko; former Governor of Ekiti State, Dr. Kayode Fayemi; Founding Partner, Aluko & Oyebode, Mr. Gbenga Oyebode, and Partner, KPMG, Dimeji Salaudeen, during AT3 Resources ﬁfth year anniversary celebration in Lagos…recently

Kyari Foresees Sustained Rise in Oil Demand with Economic Growth in Africa, Reopening in China Says Nigeria planning output hike to feed revamped refineries Emmanuel Addeh in Abuja Any report that global crude oil demand may collapse soon is not realistic, especially with increasing economic growth in Africa and the reopening of the Chinese economy, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, has predicted.

China's eventual reopening and slow crude supply growth means the global oil market would be in shortage, Kyari who also serves on Nigeria’s Organisation of Petroleum Exporting Countries (OPEC) delegation, said during a webinar, according to a report by S&P Global Commodity Insights. OPEC and its allies, including Russia, opted to slash production

FORMER AGF, FIVE SANS WARN FG AGAINST PLAN TO FRAME, DETAIN EMEFIELE FOR TERRORISM the FCT, coram Hassan J., which in the main, pronounced on and validated the fundamental rights of Mr. Godwin Emefiele. In spite of these two categorical judicial decisions, we observe moves to still proceed and sidetrack and disobey the court decisions and unduly and unlawfully interfere with Mr. Emefiele’s fundamental rights. ''In the circumstance, we wish to urge the Hon AGF to use his good offices to guarantee and ensure that the government, especially the security agencies, observe the rule of law as a foundation of a democratic society by complying with court decisions. The court, as the last hope of the citizen, has made a pronouncement on the legal rights and obligations of citizen Godwin Emefiele, it behoves on all agencies of government to obey the order of the court, until such order is set aside by an appellate court. ''The constitutional role of the judiciary as the third arm of government includes to serve as a bulwark against oppression and intimidation. The judiciary remains available to both the government and the citizens, in the ventilation of perceived grievances. Consequently, we respectfully urge the Hon. Attorney General, as Chief Law Officer of the Federation, to ensure adherence to the rule of law and advise the security agencies, especially the DSS to comply with the order of the court and not do anything that will cast this government in a very negative light in this circumstance. This is very important as it will signal to Nigerians and the international community that the government is committed to the rule of law as we proceed into this transition era." Also, Falana described the allegations against Emefiele by the

DSS as embarrassing, saying it can only happen in a Banana Republic where the governor of the apex bank would be accused of a grave offence of terrorism financing. Falana, who spoke during a live television programme in Lagos, wondered if the federal government had considered the enormous implication of the effect of arresting a central bank governor on the economy. He said he was surprised that President Muhammadu Buhari has not intervened in the matter by calling the DSS to order. “Has the government considered the enormous implication of the effect of a wanted governor of the central bank on the economy? “I am completely flabbergasted that the President of the country has not intervened; either to call the state security to order or to call Mr. Emefiele to return to the country or be fired,” the senior lawyer said. He recalled that Emefiele’s predecessor, Sanusi Lamido Sanusi was also accused of terrorism financing in 2014 but won the case.“These guys play on our collective intelligence because they know we are very forgetful. In 2014, his (Emefiele’s) immediate predecessor, former Emir of Kano, Alhaji Sanusi Lamido Sanusi, was equally accused of terrorism financing. “In the same way, he (Sanusi) also travelled out of the country to attend a meeting with the governors of the central banks of West Africa in Niamey, Niger Republic. “As soon as he landed in Lagos, he was arrested, his passport was seized,” Falana said. The senior lawyer said Sanusi won the case and the court awarded 50 million compensation in favour of Sanusi

quota by two million barrels per day (bpd), from November through the end of 2023, in anticipation of slowing demand and the prospect of recessions in key economies. The decision was despite the European Union’s plan to impose an embargo on imports of Russian crude from December and refined products from February. "I do not see how this demand will collapse because countries are coming back. China is recovering from COVID-19 and a number of countries, particularly sub-Saharan African countries, are growing. “These economies are growing very, very fast against all odds. That means more consumption," Kyari said. The OPEC+ alliance reaffirmed the decision at its December meeting and a nine-country monitoring committee, on which Nigeria sits, will convene February 1, to review market conditions and, if needed, recommend any changes to production volumes. Since the quotas were cut, Platts-assessed Dated Brent has fallen from above $100 per barrel in early November to below $80 to a barrel in recent days. Kyari said there was little evidence that the oil market was

facing a shortage from the measures. “While sanctions have impacted how much crude Russia has been able to export, Middle Eastern producers have not lost market share, he said. "What's really changed is the flow of trade," he added. Speaking on Nigeria's oil outlook, Kyari said the country plans to increase its production in 2023, but with two domestic refineries being refurbished, not all of the extra crude output will be exported. Crude and condensate production was 1.519 million bpd at the end of December and the target is 1.8 million bpd by the end of 2023, but "we know it is practical to go to 2.2 million," Kyari noted. Some of the new production would be diverted to two domestic refineries being upgraded that are expected to begin operations later in 2023, he said. Nigerian crude output alone rose to 1.33 million bpd in December, the highest since April, after the return of key grades Forcados and Brass River, according to the monthly Platts survey by S&P Global Commodity Insights. Nigeria lost around 500,000 bpd of oil production to theft in 2022, according to government

estimates. Nigeria's Minister of State for Petroleum Timipre Sylva has said the battle against oil thieves was gradually being won. Nigeria's refineries, which include the northern Kaduna and the Warri refineries, have been shut for repairs since early 2019, and NNPC expects them to operate at about 90 per cent of capacity when repairs are completed and they resume production in 2023. As such, Nigeria had to rely 100 per cent on imports of refined products. "Very little" of Nigeria's current production is processed, and instead sold into the international market, Kyari said. Also, Equatorial Guinea Oil Minister, Gabriel Mbaga Obiang Lima, speaking on a separate webinar, said the OPEC+ coalition was closely monitoring the Chinese economy and the Russia-Ukraine war. China has relaxed some of its pandemic restrictions ahead of the Lunar New Year holiday, though analysts are divided on whether rising infection rates in the country will offset any increase in oil demand for transportation. "We are all looking at this new opening of China," Obiang said. "Travelling is going to be a key

thing. If the Chinese New Year concludes and there is no major concern about infections, that's going to be a sign that things are going in a positive way," he stressed. As for Russia's invasion of Ukraine, Obiang said it was still unclear how long hostilities will continue. The EU began an embargo on seaborne imports of Russian crude in December and is set to do the same with refined products in February. The G7 has also implemented a $60 per barrel price cap on Russian crude cargoes, though key Russian grade Urals has traded well below that price in recent weeks. Meanwhile, a survey by S&P Global Commodity Insights has revealed that members of OPEC and its allies known as OPEC+ increased crude oil production by 140,000 barrels per day to 42.71 million bpd in December 2022. According to the survey, Nigeria led OPEC-13 countries to pump 28.98 million barrels per day in December, while 10 non-OPEC partners (including Russia) produced 13.73 million bpd. This led to a combined production output of 42.71 million barrels per day for the month under review.

Onne Customs Generated N242bn in 2022 Eromosele Abiodun

The Nigeria Customs Service (NCS), Onne Area II Command, has generated N242 billion in 2022. The Customs Area Controller, Auwal Mohammed, said this in a statement yesterday in Lagos. Mohammed said noted that the command’s revenue collection had been on the increase since his assumption of duty in 2020. He said that the command generated N119 billion in 2020 and N188.7 billion in 2021, respectively. “I attribute the collection of N242 billion as total revenue for 2022 to regular stakeholders engagement, increased compliance level of the port users and non compromise on the part of his officers. “The command engaged its stakeholders regularly on the need to abide by extant laws guiding import and export.

“Periodic meetings with importers, exporters, terminal operators, licensed customs agents and freight forwarders afforded the command the opportunity of regularly enlightening them on the import and export prohibitions,” he said. He said that unprocessed wood and charcoal which fall under export prohibition had been regularly brought to the knowledge of all concerned with emphasis that ignorance of the law would not serve as excuse for violation. Mohammed who lauded the stakeholders for their commendable compliance level urged them to sustain and improve on it. On the anti smuggling initiatives, he said that the command made some seizures in 2022. He said that the feat was achieved through meticulous hundred per cent physical examination of cargoes.

“Antics by smugglers to conceal prohibited items by hiding them at the end of containers with the hope that customs officers won’t get to the end during examination failed as all such concealments were uncovered and seized. “The seizures made comprise of machetes brought into the country without an end-user certificate, military wears, vegetable oil, whisky, soap, and used clothings. Other seizures included used tyres, foreign parboiled rice, tomato paste, used vehicle parts, and other items either classified as prohibited or for which duty payments were being evaded,” he said. Mohammed said the command recorded a remarkable increase in export worth N2.71 billion collected under the Nigeria Export Supervision Scheme (NESS). He said that the 2022 figure was over 300 per cent higher when

compared with N881.01 million recorded in 2021. “The NESS fee is a statutory payment to the Federal Government on all legitimate goods exported from Nigeria,” he said. Mohammed said the export items were majorly agricultural produce such as sesame seeds, ginger, hibiscus flower (zobo) an palm produce. “The command’s export profile is being supported by the Domestic Export Warehouse terminal initiative put in place by the federal government to ease the processing of export cargoes on transit to shipment stage. “For trade facilitation and ease of cargo examination, the command received a mobile scanner that is being fully installed and will be connected to the Nigeria Integrated Customs Information System (NICIS II) for synchronising,” he said.

MONDAY JANUARY 16, 2023 • T H I S D AY

T H I S D AY • MONDAY, JANUARY 16, 2023

NEWS

REMEMBERING OUR FALLEN HEROES… Imo State Governor, Senator Hope Uzodimma, laying a wreath to mark the 2023 Armed Forces Remembrance Day at the Rear Admiral Ndubuisi Kanu Square Owerri... yesterday

Anxiety Mounts as Mass Retirement Looms in Police IG, 16 AIGs, 300 others to retire within two months Policemen not allowed to protest, embark on strike, says Force PRO Goddy Egene and Kingsley Nweze in Abuja The effective monitoring of the general election commencing on February 25, 2023, is being threatened by the imminent retirement of over 300 senior police officers. The president and national assembly elections are slated for February 25, while governorship and state assembly elections will hold on March 11, 2023. The Independent National Electoral Commission (INEC) is doing everything possible to deliver free and fair elections. However, provision of adequate security that will engender effective monitory of the polls is being threatened by manpower shortage that may hit the Police Force due to imminent mass retirement of officers including the Inspector General of Police (IG), Usman Alkali Baba. It was gathered that apart from the IG whose statutorily retirement day is for March, 15, about 16 Assistant Inspectors-General (AIGs);

12 Commissioners of Police (CPs) and Deputy Commissioners of Police DCPs, and 30 Assistant Commissioners of Police (ACPs) are slated for retirement between February 1 and March 31, 2023. Also to retire within that period are more than 35 Chief Superintended of Police (CSPs); 47 Superintended of Police (SPs), 55 Deputy Superintended of Police (DSPs) and over 70 Assistant Superintended of Police (ASPs). Already, two DIGs are expected to statutory retire at the end of January, 2023. Their letters of retirement were said to have been forwarded to Police Service Commission (PSC) for processing. Sources hinted that about 15 of the ACPs are Mobile Squadron Commanders and Area Commanders, while most of the CSPs and SPs are Divisional Police Officers (DPOs). It was gathered that ironically, the names of some of the officers had been submitted to the Force Headquarters Abuja for strategic postings for the elections.

Some top retired security personnel, who spoke to THISDAY, said the imminent retirement of the officers could have a negative impact of elections and therefore advised President Muhammadu Buhari to extend the retirement of these officers till after the elections. However, a source at the Police Service Commission (PSC) assured Nigerians that the police have enough manpower to perform their statutory role during and after the elections. “We just injected 10,000 recruits into the force, who will participate in the election. Another 10,000 are expected in the next batch of recruitment. We have received applications. So for now we have enough manpower for the election,” the source said. Speaking on the extension of tenure for the personnel, the source stated: “In the case of IG, only President Buhari has the power to extend the IG's tenure. His tenure ends March 1 and at that point, only the presidential election

would have been conducted but if he is to go, there other capable successors.” Also, the Police Force spokesman, CSP Olumuyiwa Adejobi, said there was no cause for alarm. “We always have manpower. Police is not the only security agency involved in this election. There are other security agencies and we are working in synergy. Every volatile area will be liberated before the election. “People are creating fears to heat up the polity and we need to be wary of fake news peddlers,” he told THISDAY yesterday. “Those who are to go will go. Once it is time for you to go, the rule is that you must go. For instance a DIG is going today (yesterday),” he Adejobi added. Meanwhile, the Nigeria Police Force has debunked the rumoured planned strike of members of the Force. The Force Public Relations Officer, Olumuyiwa Adejobi, who was apparently reacting to a publication

Tunde Bakare to Nigerians: Reject ‘Emilokan’ Brand of Politicians Warns against politics of entitlement We haven’t had it this bad; ensure you vote, Catholic Bishop of Lafia Tells Nigerians

Segun James and Dike Onwuamaeze As Nigerians prepare to elect a new president next month, the Presiding Overseer of the Citadel Global Community Church (formerly Latter Rain Assembly), Pastor Tunde Bakare, yesterday advised them to shun those promoting ‘emilokan’ and politics of entitlement. Bakare also pointed out that good politicians seeking for votes from the electorates do not ask others in his campaign team to respond to questions directed at them. Bakare said this in his state-ofthe-nation address. The comment from the Lagos-based pastor came just as the Catholic Bishop of Lafia Diocese, Most Rev. David Ajang, yesterday urged Nigerians to make themselves physically present during the forthcoming general election, saying the nation have not had it this bad. Although Bakare he did not mention the name of Senator Bola Tinubu, presidential candidate of the All Progressives Congress (APC), he gave several instances that showed

he was referring to the ruling party’s candidate. During his presentation at the Chatham House in London in 2022, some members of the audience had asked Tinubu questions bordering on insecurity, oil theft, education and economy and how he planned to address crises in those areas if he became president. As he was asked by the moderator to respond to the questions, Tinubu assigned some members of his entourage to do so. The former Lagos State governor had assigned Governor Nasir ElRufai of Kaduna State to speak on how his (Tinubu-led) government would address insecurity and asked the Director of Strategic Communication of the APC Presidential Campaign Council, Dele Aleke, to respond to the question on oil theft, while he delegated a former Commissioner for Finance in Lagos State, Wale Edun, to respond to a question on how he (Tinubu) would boost the economy if elected. This had created a storm as critics had said the action showed he was unfit to govern, but Tinubu’s

supporters defended him saying what he did show he was ready to run an inclusive government if elected. Speaking further, in his address, Bakare warned against politics of entitlement, describing it as bad politics. Making reference to ‘Emilokan,’ which means it is my turn in Yoruba, the cleric said politicians with a sense of entitlement evade political debate and fail to address Nigerians they seek to serve. He also asked Nigerians to reject vote buyers in the 2023 elections and called for entrenchment of good politics which focuses on issues of development. “This ‘emilokan’ politics that insists on one’s turn, even if circumstances do not align, is bad. Politics of entitlement also manifests as perennial candidacy, not with the intent to serve, but to gratify long personal ambitions. “It could also manifest as insistence on a given political office as a reward for what one considers a lifetime of sacrifice to the nation. Politicians with a sense of entitlement evade political debates

and do not consider it imperative to communicate with the electorate. “Entitlement politics will breed an imperial presidency that is distant from the people and has no sense of responsibility or accountability to the people. Such imperial governance will slide towards dictatorship and will be intolerant of dissent. “Entitlement politicians set low performance benchmarks for themselves when they secure power and are content with projecting molehills as mountains of achievement. “Good politics, good governance, Fellow Nigerians, having completed our analysis of bad politics, bad governance and it output, let us now take a look at good politics and output of good governance. Good politics is pragmatic politics in the interest of the people. “Politicians who practice good politics talk to the people they intend to govern; by communicating, they allay fears, restore hope, and assure the citizens. It is engaging and interactive. Continued online

by an online news platform on a purported planned mega protest in Lagos, by policemen over alleged six-month unpaid arrears, said policemen protesting or embarking on strike was not possible. There were reports that only grade levels 03,04,05,06 and few

07 police officers were paid arrears while those in grade levels 08, 09, 10 and 11 were not paid. “Senior inspectors from Lagos police command are planning to protest at the Lagos command Headquarters on Monday over the unpaid six months arrears.

FGC Yauri: Parents of Abducted Female Students Beg Nigerians for N100m as Ransom for Terrorists Parents of the 11 remaining abducted female students of the Federal Government College, Yauri, in Kebbi State, have appealed to Nigerians to come to their aid financially in order to rescue their children from their abductors. In a letter addressed to all Nigerians, which PRNigeria obtained, a group known as “Committee of Parents of 11 Abducted Students of F.G.C Birnin Yauri, Kebbi State, Nigeria,” passionately solicited financial assistance towards raising the sum of N100 million as ransom to be paid to terrorists in exchange of their wards. Recall that the 11 students were kidnapped when bandits invaded their school on June17, 2021. PRNigeria had, last November, reported that some of the girls were now teenage mothers with babies, while about four others were pregnant (then). In their letter, the Chairman and Secretary of the ‘Committee of Parents of 11 Abducted Students of F.G.C Birnin Yauri, Kebbi State,

Nigeria,’ Salim Ka’oje and Mr Daniel Alkali, said their female children (aged between 12-16 years) have been in the custody of their abductors for about 20 months now. “…And the abductors are demanding the sum of N100 million before they release the girls,” they added. According to Ka’oje and Alkali, all efforts at negotiations and attempts to get government’s intervention and assistance had yielded no success. “This is what informed the resolution of the parents to seek for assistance in addition to disposing of all their disposable assets to achieve this goal. “Assistance and donations can be sent to the following accounts: Salim Sani Ka’oje Jaiz Bank with Account Number: 0007886580 and and Keziah Kano UNion Bank Account No 0032362797 “We thank you very much in anticipation of your help and for your concern in our predicament,” they wrote in their letter, appealing for financial assistance.”

NIGERIA RECORDS 29 FRESH CASES OF COVID-19 IN ONE WEEK severe COVID-19, and for anyone in a crowded, enclosed, or poorly ventilated space. Previously, WHO recommendations were based on the epidemiological situation," it stated. In previous recommendations, WHO had advised on instances when a mask may be suggested based on a risk assessment. It said that factors to be considered include the local epidemiological trends or rising hospitalisation levels, levels of vaccination coverage and immunity in the community, and the setting people find themselves in. WHO also gave guidelines on reduced isolation period for COVID-19 patients It advised that a COVID-19 patient could be discharged from

isolation early if they test negative on an antigen-based rapid test. "Without testing, for patients with symptoms, the new guidelines suggest 10 days of isolation from the date of symptom onset. Previously, WHO advised that patients be discharged 10 days after symptom onset, plus at least three additional days since their symptoms had resolved. "For those who test positive for COVID-19 but do not have any signs or symptoms, WHO now suggests 5 days of isolation in the absence of testing, compared to 10 days previously. "Isolation of people with COVID-19 is an important step in preventing others from being infected. This can be done at home or at a dedicated facility, such as a hospital or clinic," it said

MONDAY, JANUARY 16, 2023 • T H I S D AY

NEWS

THANK-YOU VISIT... Igwe of Imobi Autonomous Community, Eze Simeon Chukwuemeka (left), and the Deputy Chief Whip of the House Representatives, Hon. Nkeiruka Onyejeocha, during lawmaker’s visit to the palace of the monarch to show appreciation after being conferred with a chieftaincy title of the Imobi Autonomous Community in Abia State...recently

Atiku Appeals to Nigerians to Collect Their PVCs Consoles Jang over death of 16 PDP supporters, donates N40m Over 26m registered students must vote, say CSOs Adedayo Akinwale in Abuja and Seriki Adinoyi in Jos The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has appealed to Nigerians to use the opportunity of the extension of the collection of Permanent Voter’s Cards (PVCs) to go and collect theirs. Also, a coalition of civil society groups has called on the Independent National Electoral Commission (INEC) and the federal government

to ensure that over 26 million students who registered as voters during the strike embarked by the Academic Staff Union of Universities (ASUU) collect their PVCs. Atiku in a personal email sent yesterday, said: "INEC continues to work around the clock to ensure that all of us vote in this election and that our votes count. "But we cannot have a vote if we don’t collect our PVCs. For our votes to count, we must reduce the counts of uncollected PVCs at various INEC-designated

NBA Advocates Independent Candidacy, Describes Section 221 as Fraud

Wale Igbintade

The President of the Nigerian Bar Association (NBA), Yakubu Mikyau, yesterday called for the amendment of the 1999 constitution to give room for independent candidacy in the Nigerian electoral process. Mikyau, who described Section 221 of the 1999 Constitution as a fraud, added that the process of selecting candidate by existing political parties was faulty and cannot produce the best leaders. Citing Section 221 of the 1999 Constitution (as amended) that provides states that, “No association, other than a political party, shall canvass for vote for any candidate at any election or contribute to the funds of any political party or to the election expenses of any candidate at an election.” Speaking at the 19th Annual Gani Fawehinmi lecture put together by the Ikeja branch of the NBA, held at the Airport Hotel, Ikeja, Mikyau, charged lawyers across the country to ensure that the forthcoming 2023 general election, slated to hold in February, are free, fair, and credible. He said: "Most of us are aware of what happened in the last primaries across the political parties, and its from

this flaw process that candidates emerged, where we must select our next leaders. We don’t have any other choice. "With due respect to the framers of the constitution, Section 221 is a fraud being committed on the people of this country. Fraud in the sense that we don't pay attention to how we produce our candidates, and you cannot contest election unless on a platform of a political party. "We all know what goes on in these political parties, that is why we don't get the best of us to emerge as candidate for us to choose at the general elections. Whatever they produce that is what we are limited to in term of our choice. I think it is a fraud that is committed on us. "The only way we can break away from that is to pursue constitutional amendment to say that the best of us is the one we want for the election to emerge on the platform of independent candidate. That is the only way we can break away from this fraud.” He added: "In 1919 when the democratic dispensation began, Nigerian were limited to just three political parties. If you don't vote for any of the three political parties, you don't Continued on page 43

collection centres. “The deadline for collecting PVCs has been extended till Sunday, the 29th of January. Make sure that you take advantage of this extension to earn yourself the power to be part of the mission to recover Nigeria. "Also, encourage your partners, friends, families and colleagues to do the same. Remember, it is through the ballot that power truly belongs to the people," Atiku stated. In the same manner, the Executive Director of Speak Out Africa Initiative (SOAI), Kenneth Eze, said: "What seems to be a design; whether fore-planned or not, to totally exclude the teeming eligible registered Nigerian students from exercising their constitutional civic rights currently looms, and must be arrested. "If nothing is done quickly to ensure that the over 26 million eligible registered students collect their PVCs, then they stand to be disenfranchised." The group noted that the majority of the students registered for their PVCs during the nine months ASUU strike and are in schools presently. Eze said: "While the continuous voter registration (CVR) was done during the strike action at home, the PVCs -as access for voting,

is currently being distributed when the same students are already in schools and yet no provision by the electoral umpire INEC to factor in the students’ plight since it cannot be collected in proxy – this suggest to be a deliberate plan and must be resisted. "On this strength, we recommend these two urgent interventions to save our hard-earned democracy whose beauty and ingredient remains inclusiveness and credibility," the group said. "We call on INEC as the umpire to Create School Collection Points (SCP) and Transfer of students PVCs to their new locations across respective tertiary institutions for them to go there, identify themselves and obtain their PVCs since they have database records of each registered student. "We also call on the federal government under President Muhammadu Buhari to declare a public holiday for students to travel and obtain their PVCs; as well as mandate the National Universities Commission (NUC), ASUU as education stakeholders to comply and stop academic activities."

Atiku, Ayu Console Jang over Demise of

PDP Supporters In another development, Atiku and the National Chairman of the party, Dr. Iyorchia Ayu, yesterday paid a condolence visit on the former Governor of Plateau State, Senator Jonah Jang, at his residence in Jos over last Saturday's accident which claimed the lives of 16 party supporters and left 83 others injured. The party supporters were returning from the party's zonal rally in Pankshin LGA when the driver of the truck conveying them lost control of the vehicle and crashed into a ditch at Panyam in Mangu LGA of the state. Commiserating with Jang and the PDP in Plateau, Atiku described the death of the party supporters as painful, saying that their sacrifices would not go in vain. He said: “For us, the loss is a very painful one that the lives of the young ones are cut short at their prime. We are with you in prayers in this sad moment and we want to assure you that we will stand by you to make sure that those in the hospital receive the best medical attention.” Atiku commended Jang for the leadership of the PDP in Plateau and assured him that “nobody

body makes sacrifices without the sacrifice being acknowledged and appreciated.” Atiku also announced a cash donation of N30 million to assist in catering for the accident victims who are still receiving treatment at the various hospitals in the state. Also speaking, Ayu condoled with the PDP family in the state and the people of the state over the sad incident and prayed to God to give them the strength to bear the irreparable loss. He also announced a donation of N10 million to the accident victims on behalf of the national secretariat of PDP, and said that their sacrifices would not be in vain. He assured the people that they would continue to work hard not just for the PDP but “to rebuild the country with greater facilities so that such a thing will not happen again.” Responding, Jang thanked the former vice president and his entourage over the visit, describing the gesture as a mark of love, which the PDP is known for. Jang, who also described the accident as sad, disclosed that about 10 of the surviving victims had their legs amputated due to the severity of the injuries which they sustained in the accident.

NDLEA Seizes 3.2m Tramadol Pills, Other Drugs Worth N5bn in Lagos Michael Olugbode in Abuja The National Drug Law Enforcement Agency (NDLEA) has busted another tramadol cartel in Lagos with the seizure of millions of opioids pills and bottles worth over N5 billion from a warehouse at the weekend. The Director, Media and Advocacy, NDLEA Mr Femi Babafemi, said this in a statement yesterday in Abuja. Babafemi said the drugs were intercepted in Amuwo Odofin

area of Lagos State following an earlier arrest of two kingpins. He added that the drug cartel was busted on January 13 when operatives tracked and located a major warehouse for pharmaceutical opioids at No. 17, Sir Ben Onyeka street, off Ago palace way in Amuwo Odofin. He said that the owner of the warehouse, Aloysius Okeke was also arrested. Babafemi said that illicit drugs recovered from the warehouse included 3,264,630 pills of

tramadol. “Three thousand, four hundred and ninety bottles of codeine and 915,000 capsules of Pregabalin 300mg. “This came on the heels of the arrest of a suspect, Olarenwaju Lawal Wahab who distributes for the cartel same day. “Recovered from his white Mercedes distribution bus include: 14,690 bottles of codeine-based syrup. “402,500 tablets of tramadol 250mg; 50,000 tablets of tramadol

225mg and 210,000 capsules of pregabalin 300mg,” he added. Babafemi quoted the Chairman, NDLEA, retired Brig. Gen. Buba Marwa as commending the officers and men of Lagos Command for the arrests and seizures. Marwa charged them and compatriots across the country to sustain the heat on drug cartels in Nigeria. He also urged the operatives to balance their efforts on supply reduction with drug demand reduction initiatives.

MONDAY, JANUARY 16, 2023 • T H I S D AY

NEWS

ALWAYS IN OUR HEARTS... Ekiti State Governor, Mr. Biodun Oyebanji laying a wreath to commemorate the 2023 Armed Forces Remembrance Day at the Ekiti Parapo Pavilion, Ado-Ekiti...yesterday

Obi: How I’ll Address Ethnic Agitations If Elected President Gabriel Emameh in Abuja

The presidential candidate of the Labour Party, Mr. Peter Obi, has explained how he plans to address the scourge of ethnic agitations in the country if elected Nigeria’s president in the February 25 election. Obi made the explanation yesterday in Abuja, at the 53rd anniversary of the end of the Nigeria/Biafra war. In a piece entitled: ‘Nation Building and Ordered Society Are Imperative,’ Obi lamented the negative trajectory of the Nigerian nation, urging every citizen of voting age to take advantage of next month’s presidential election to vote elect a leader desirous of giving the nation a fresh start. He said: “I believe that various agitation groups will stop their agitations when they see a patriotic leadership imbued with fairness, equity, justice, and a determination for a very inclusive and progressive society. “Every rational human being can change when he sees a good reason to do so. Such incentives require the right approach, effort, and time. “There are youths all over Nigeria who are frustrated because of injustice, poverty, lack of opportunities, unemployment, and apparent exclusion. Such youths could seize and use any issue or tool to express their frustration and anger. “I believe that some of those who are agitating are doing so partly due to our failures in creating an inclusive and progressive Nigeria. A working Nigeria with equity, justice and fairness will also definitely and effectively checkmate such extreme groups like Boko Haram and the Islamic State in West African Province.” The former Anambra State governor also stressed the importance of dialogue in addressing issues of divisions in the country, noting that if elected, his government would deploy both kinetic and non-kinetic strategies in bringing about a peaceful society for all Nigerians regardless of where they live. “I personally believe that the best strategy for dealing with these

situations manifesting in the guise of unclear nationalism, bigoted patriotism and religious bigotry is a carrot-and-stick approach. “Nation-building and an ordered society are now imperative. We must wean those that can be weaned through the creation of a society where equity and justice will prevail, a society where the basic freedoms and necessities of life, such as health, jobs, skills, and empowerment are provided. “There must be a national programme for those who will accept the carrot approach. For those unwilling to yield to the carrot approach, the stick option will be fully justified and applied. We must put an order in our society and where necessary, justice will be tempered with mercy,” he added. Although the war came to end 53 years ago, Obi regretted that not much had been achieved in terms of building an inclusive nation for all. Continuing, the Labour Party presidential candidate said, “January 15, a very special and unique day in 2023 as it was 53 years ago. Forty days from today, Nigerians will be voting in an election that many regards as the most crucial and existential decision we have to make as a nation, and particularly for our children and youths, given the sad state of our dear nation, Nigeria; alarming insecurity, unemployment, poverty, inflation, debt, hunger, disunity, hopelessness and many other indices of a failing state. “It was also on January 15; 53 years ago, a very special red-letter day for Nigeria that the booming of guns and other paraphernalia of battle were formally silenced in the thirty-month civil war in which millions of lives were regrettably lost and an unquantifiable number of properties destroyed. “As we can recall, Colonel Olusegun Obasanjo, as he was then known, led the then-Biafran delegation to General Gowon to declare that the war was over and that the military colleagues from the Biafran side should be deployed. It was stated, “To keep Nigeria one is a task that must be done and ‘No victor, no vanquished.’ It is this task of keeping Nigeria

one in the spirit of ‘no victor, no vanquished’ that has provided the platform for the commitment of both mental and physical energy to the arduous but noble task of building one strong, united and indivisible Nigeria. “As such, the overriding task we should all be committed to, as stated above, is securing and uniting Nigeria for Sustainable and Inclusive Development, particularly for our children and youths. “While we regret the immense losses from the war, we pray for the repose of souls of the departed and thank God that it ended, we all must join hands with utmost sincerity and commitment to preventing any serious violence in Nigeria, let alone another civil war! Never again! “This task of securing and uniting Nigeria should be our only option and we all can agree that the leaders and people of different sections of Nigeria have done admirably well, particularly in the years immediately after the war.” He added: “Within less than 10 years after the end of that civil war, a committed personality from defunct Biafra, Dr Alex Ekwueme,

was the number two man to a most patriotic, humble servantleader, Shehu Shagari, who was number one. “May their souls continue to rest in peace! Our dear Shehu Shagari and Alex Ekwueme -both of blessed memories – became a strong and veritable expression of the unity and togetherness that engendered a vibrant post-war Nigeria. “This democratic leap with its unifying symbolism was glorious for Nigeria, and I deeply cherish such a path of brotherhood and oneness established by Shagari/ Ekwueme and truly believe that it is this path of inclusiveness and togetherness as one Nigeria we should follow today. “Anyone who still harbours a different agenda different from the realisation of a wholesome and unifying people-oriented development vision is doing a terrible disservice to this generation and generations of Nigerians yet unborn. “I cannot think of any valid reason, except for the deficit of sound socio-economic and political policies and programmes that will

unite and propel Nigeria forward. “From what I know of the South-East, the Igbo Nation, led by Ohanaeze, has at every opportunity been unequivocal about its commitment to the unity, oneness, integrity, and progress of Nigeria, based on equity, justice, and an inclusive society. “And I, Peter Obi, a proud Nigerian of Igbo extraction, am most truthfully and wholly committed to that stand of one united, secure and progressive Nigeria,” adding that “It is also unfair to use the misconduct or position of one person or few persons in an ethnic group to stigmatise the entire group. “It is a wrong approach and should not be so. I have repeatedly said that I will sit down and discuss with all agitators, believing that we must continue to talk and negotiate with all to achieve positive results.” Obi, further promised that if given the opportunity to preside over the affairs of the nation, he would ensure that the events which brought about the civil war do not happen again, saying, “let us accept that the war has

truly ended. To try to continue to ‘fight the civil war’ today, after fifty-three years, would be a great disservice to Nigeria and Nigerians, particularly our heroes who diligently laboured to secure and unite us. “Let our rallying anthem remain, ‘though tribes and tongue may differ, in brotherhood we stand,’” he said. Obi further stressed, “On this day, January 15, 2023, I most sincerely pledge and commit that I will spend the rest of my life making sure that the civil war and the circumstances that led to it do not re-occur; and to ensure that we build an allinclusive and progressive society where no individual or group will be estranged, marginalised, or excluded. I remain resolute that a New Nigeria that we are all proud of and patriotically committed to is possible and it is a task that must be achieved.” He lamented the poverty and unemployment in the land, assuring that if elected, every Nigerian would have the opportunity to engage his talent to earn a decent living.

Anambra Govt Allegedly Pulls Down Peter Obi’s Billboards over Debt

David-Chudyy Eleke in Awka

Some of the billboards of the presidential candidate of the Labour Party (LP), Mr. Peter Obi in Anambra State have been allegedly pulled down over the inability of the party to pay the stipulated rate to the state government. The billboards, mounted in strategic positions in some areas, were removed by the Anambra Signage and Advertising Agency (ANSAA) at the weekend. But LP accused Governor Charles Soludo of ordering the removal of the billboards for ulterior motives. One of the chieftains of the party, who did not want to be quoted, said Obi and Umeh’s large billboard at the Unizik temporary site flyover were pulled down on Saturday by ANSAA.

He alleged: “The billboard at Unizik temporary site junction was today (Saturday) removed on the orders of Soludo. “The advert which was placed by an APCON registered advertising agency was fully paid for. Soludo said that he does not want Labour Party advert on such a strategic place and ordered the Anambra Signage Agency to refund the money it received for the advert. “He also ordered the removal of the Labour Party advert at the Afor Nnobi Gantry. This advert has been there since October, 2022 and was paid for five months.” The Managing Director of ANSAA, Tony Ujubuonu, confirmed the removal of the billboards by operatives of the agency. He said one of the LP billboards

were removed on Saturday but not on the orders of Soludo. Ujubuonu said: “Whatever that was removed was as a result of a challenge we had with the agent that erected the board. “First and foremost is that the bridge you are talking about was having a Labour Party billboard. If you recall in August, we sent out a message to all political parties to pay up their campaign fees. “There was a lot of hullabaloo about it. None of them have paid their own. So most of the parties that have not paid theirs that have adverts on government assets were removed. It has nothing to do with the governor. “Governor didn’t give any order. If they said they paid, the campaign fees, let them give me any evidence, I should know, I’m

the ANSAA MD. “They didn’t pay the campaign fees and we spoke to their media heads several times; we informed them about the enforcement, and they haven’t paid it so we decided to take down the advert. ” It has nothing to do with the governor. Anybody that tells you anything about the Governor and the billboard is telling you lies.” He maintained that when the billboard was removed, government refunded the advertising agency that mounted the advert its money. “The money was refunded to the agency who owned the board not to the client. We don’t deal directly with the Labour Party, we deal with the advertising agency that mounted the board,” the ANSAA MD explained.

MONDAY JANUARY 16, 2023 • T H I S D AY

T H I S D AY ˾ MONDAY JANUARY 16, 2023

Acting Group Politics Editor DEJI ELUMOYE

POLITICS

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

M O N D AY D I S C O U R S E Soludo’s Bold Move for Kanu’s Release Amid Restive Peace in South East David-Chyddy Eleke examines the move made weekend by Governor Charles Soludo of Anambra state to stand surety for detained leader of proscribed Indigenous People of Biafra, Mr Nnamdi Kanu, and how it can solve the security question in South East.

n what many people have described as a bold step, Governor of Anambra State, Prof. Chukwuma Charles Soludo last Saturday called for the immediate and unconditional release of the leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu. The governor believed this move this will play a big role in solving the question of insecurity in the entire south east zone of the country. The south east region of the country, which is predominantly occupied by Igbo people have witnessed insecurity for close to two years, with many towns, communities and villages being pillaged by criminals who have come to be known as unknown gunmen. Though many of those involved in the attack have often cited the continued detention of the separatist leader as the reason for the attacks, investigation, however, showed that even before the arrest of Kanu in Kenya, in June 2021, there had already been traces of violence attributed to the separatist group, IPOB, which is led by Kanu. For example, in April 2021, gunmen who were touted to be members of the separatist group disrupted an interactive session organised in Isuofia, Aguata Local government of Anambra State, which is the hometown of Prof Soludo, who was then a governorship aspirant of the rulling All Progressives Grand Alliance (APGA). The gunmen killed three policemen, but Soludo was able to escape unhurt. The spokesperson of Indigenous People of Biafra (IPOB), Mr Emma Powerful however denied that their members were involved in the attack, and have continued to deny other attacks attributed to the group. Soludo in the fresh call for the release of Kanu hinged it on the role that the separatist leader will play on the ensuring peace and the end of insecurity in the zone. The governor in the call said he was ready to stand as a surety for the secessionist leader, if he is released to him, that

Soludo

Kanu

is if federal government finds it difficult to release him unconditionally. He said: “I am making a passionate appeal to the Federal Government to release Mazi Nnamdi Kanu unconditionally. If he cannot be released unconditionally, I want him released to me, and i will stand surety for him. We need Nnamdi Kanu in the roundtable conversation to discuss the insecurity in the South East. We must end insecurity in the South East and we need Nnamdi Kanu to be around. “Sometime ago, we set up the Truth and Reconciliation Committee to find out the root cause of insecurity in the South East and they have almost concluded their assignment. But this issue of insecurity cannot be well addressed without bringing to the

table the key players in this matter. We have applied the kinetic and non kinetic approach to fighting insecurity in the South East, but the non kinetic approach cannot be complete without the Federal government releasing Mazi Nnamdi Kanu. “We must bring him to the table because we need him to be part of this process and I call on the Federal government to release Nnamdi Kanu to me, for us to have a comprehensive discussion for the fate of the South East. If we cannot release him based on the court process, I hereby offer myself as the surety for his release and when ever you want him, I will hand him over to you. We shall provide him shelter and give him home, and we make this plea in the true belief in the spirit of peace in the South East,” he said. While many have praised Soludo for the call, there are many others who have expressed doubt about the ability of the governor to keep

Kanu if he is released to him, as to be able to hand him over to the federal government for continuation of trial if he is needed. This is because Kanu himself has severally confessed to being destructively stubborn, and also demonstrated that he can not keep to terms of release, as can be seen in 2017 when Kanu was released to then minority leader of the Senate, Senator Enyinnaya Abaribe. Abaribe had then been tackled by the federal government, over his inability to produce Kanu who was released to him, to the federal government for continuation of trial. Kanu had fled to Israel, and later appeared in UK, from where he made scathing internet broadcasts against the federal government and President Muhammadu Buhari. Considering the security situation in the South-east, which has now become rife, many have supported the call for the release of Kanu, as a way to involve him in a discussion that can help solve the security condition of the south east. This is because even though his group keeps denying their involvement in attacks in the South-east, especially Anambra, Enugu and Imo States, there are still elements of truth in the story that his members were the ones carrying out such attacks. Though most of those that used to be loyal to Kanu before his incarceration have left him, are now involved in very nefarious activities that have culminated in the deteriorating security in the zone. One of them is one Simon Ekpa, a Finland- based Nigerian, who used to be a supporter of Kanu, but took advantage of Kanu’s arrest and detention to create another group within the IPOB, which calls itself Autopilot group. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Beyond Tinubu’s Session with Nigeria Economic Summit Group Tope Fasua reviews the recent meeting between the presidential ﬂag bearer of the All Progressives Congress, Asiwaju Bola Tinubu, and members of the Nigeria Economic Summit Group in Lagos

he APC Presidential Candidate’s superlative and candid showing with the Nigeria Economic Summit Group on the 13th of January 2023 has naturally endeared him further to millions of voters across the country. A legion of former doubters including those who had based their opinions on skits put together by usually unserious minds who seek whatever they could twist in every speech, have now seen that they have been misguided. The momentum will ramp up even as we move closer to the election day, delivering what may turn out to be the cleanest landslide victory since Nigeria’s return to democracy in 1999. What struck me is the candidness of the conversation and the fearlessness of the speech. The economic thinking that attracted me to Bola Ahmed a long time ago, and thus made it easy for me to pledge my unallowed support in his quest this time, was there for all to see. The ideas that he had espoused in his many colloquia, including his writeups in Premium Times and other media, are truly etched in his mind. He comes to the table, not to be bamboozled around by the usual pretenders to intellectuality, but with his worldview, knowledge, drive, and dream for his nation. Of recent, I realized that Bola Tinubu, just like the great Nnamdi Azikiwe, having studied extensively in a certain era in the United States, must have returned to Nigeria with a fervour to right the wrongs, and to prove that there was nothing wrong with the black man. You cannot immerse yourself in the United States

Tinubu

without forming a strong opinion which propels you to want to give direction to your own people – except you forget where you are from and decide to share in the American dream, or you are incapacitated politically. That Tinubu has been on this quest for decades, going by how long he has spotted his broken chains (which I prefer to call the infinity) traditional cap, is worth noting for the perceptive and attentive. This man is a gift to Nigeria and humanity. It is evident that in Tinubu we have a fearless, tested, experienced, urbane, businesslike, well-rounded,

visionary candidate. He felt very much at home with the business community, who themselves can see by now, that Tinubu is their best bet for further prosperity and for the business community in Nigeria to remain the linchpin of Nigeria’s development, and to even play a larger role. But not only that. The delegates of the organized private sector present at the parley, or watching from the comfort of their offices, would have whipped out their scientific calculators (I remember the hp calculators bankers used to love), and worked out rates of returns on potential investments under the guidance and auspices of a businessoriented and transformative government of Asiwaju Tinubu, who continues to avert their minds to the sheer possibilities of our nation; a great nation waiting to soar, if only we could stay positive, attentive, cooperative, and connect our quest to a higher calling to lay a solid foundation for our children today, and those yet unborn. Tinubu’s vision is not only about Nigeria. From his trajectory, one can already see that he subscribes to that Chinese adage; ‘If your vision is one year, cultivate flowers; if your vision is ten years, cultivate trees; but if your vision is eternity, cultivate people’. Hands-down, his understanding of succession planning sets him apart. And his investment in raising leaders from among those he has identified over time, sometimes shames his peers who seemed to have simply concentrated on themselves and their children alone over the years. I had warned many of Tinubu’s traducers that his delivery and carriage will

only improve, and that he will seem to age backwards, like the fictional Benjamin Button. I hope they are seeing with their eyes now. The meat – and there are several actually – of Tinubu’s discussion at the NESG parley could be itemized as follows: A very candid discussion where reality is discussed, difficulties acknowledged, but without any fear to dream and envision a great Nigeria where the private sector will lead robust growth, powered and enabled by a refocused public sector. An admission to the plurality and diversity of opinions necessary for national development. Asiwaju acknowledged upfront that he doesn’t have all the ideas, and some may disagree with some of the ideas he proposes. And that is important for robust engagements and progress. In acknowledging diversity and plurality of ideas, Asiwaju emphasized the importance of teamwork between private and public sector, and his ability to put a committed and patriotic crack team together at the shortest possible time. His track record in Lagos comes in very handy and is unmatched by any other political leader in our time. Unlike any other contender for the presidency in 2023, Bola Tinubu is committed to a doubledigit growth of the economy, in defiance to some of the tepid projections of multilateral agencies. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

MONDAY JANUARY 16, 2023 • T H I S D AY

T H I S D AY ˾ DAY ͯʹ˜ 2023

IMAGES

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

The new Chairman, Ad-hoc Committee on Ilesa University, Prof. Taiwo Ashaolu (left), being congratulated by the Osun State Governor, Senator Ademola Adeleke (right), during the inauguration ceremony of the Adhoc Committee on Ilesa University held at the Local Government Service Commission Hall, Abere, Osogbo… recently

L-R: Company Secretary, Royal Exchange General Insurance Company Limited, Mrs. Sheila Ezeuko; Chairman, company Board of Directors, Mr. Ike Chioke; and new company Managing Director/Chief Executive Oﬃcer, Mrs. Ebele Nwachukwu, during the 2023 press brieﬁng and introduction of Nwachukwu as the new CEO of the company, held in Lagos…recently PHOTO: SUNDAY ADIGUN

Newly elected National Coordinator, Independent Shareholders’ Association of Nigeria (ISAN), Mr. Moses Igbrude (right), conducting the oath-taking on his executive members during the swearing-in ceremony in Lagos…recently PHOTO: ABIODUN AJALA

L-R: Husband of Nollywood actress (Nkiru Sylvanus), Riches Sammy; his wife, Nkiru; Abia State governorship candidate of the Young Progressive Party (YPP), Mr. Enyinnaya Chima Nwafor; and state deputy governorship candidate of the party for the 2023 election, Dr. Chima Desmond Anyaso, at the couples’ wedding ceremony in Abia State…recently

L-R: Vice Chairman, Alli-Oloko Balogun Descendants Union, Dr. Gbolahan Alli- Balogun; newly turbaned Imam, Alli Oloko Wasinmi Mosque, Alhaji Monsur Kehinde Alli-Balogun; newly turbaned lya Adini Musulumi of Alli Oloko Wasinmi Mosque, Alhaja Lateefat Yoyinsola Makanjuola; Chairman, Alli- Oloko Balogun Descendants Union, Otunba Nurudeen Adegboyega Ojora-Adejiyan; and Mr. Wonu Folami, at the turbaning ceremony of Imam of Alli Oloko Wasinmi Mosque and other titles, organised by the Descendants Union in Lagos Island… recently PHOTO: ETOP UKUTT

Group Chairman, Odu’a Investment Company Limited, Otunba Bimbo Ashiru (left), presenting Odu’a souvenirs to Vice President Yemi Osinbajo (right) during a business meeting of Odua delegation to the vice president at the Presidential Villa in Abuja…recently

L-R; Director of Training, Peoples Democratic Party (PDP) Presidential Campaign Council (PCC), Austin Opara; Osun State Governor, Senator Ademola Adeleke; Deputy Director of Training, Zainab Haruna; and oﬃcial of the training programme, Mrs. Dupe Adeleke, during the train-the-trainer workshop for 2023 PCC department held at the Adeleke University, Ede, Osun State…recently

T H I S D AY ˾ DAY ͯʹ˜ 2023

FEATURES

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

Reintegrating Anambra Flood Victims David-Chyddy Eleke, who looked at the 2022 flood in Anambra State, writes on the condition of the survivors who are trying to reintegrate in their communities after months of being in Internally Displaced Persons Camps

UNICEF field officer, Mrs Juliet Chiluwe handing over chemicals for fumigation of flood ravaged areas of Anambra to the state Deputy Governor, Dr Onyekachi Ibezim

he expectation is that after this year’s ravaging flood, victims who have been in IDP camps for three months, from September to November would return home after the floods have receded to thank their stars for being among those who made it out alive, but that is not the case, as even those who made it back alive are threatened by lack of food, water scarcity, and threat of diseases. Save for the 2012 flood, 10 years ago, the 2022 flood has been said to be the most devastating. Besides sacking residents of about eight local government areas in Anambra State from their residences, the flood also took in its wake, the livelihood of many. But most devastating is that an estimated 120 persons lost their lives in Anambra State alone as a result of the 2022 flood.

How it Started The flood started in September, with some residential areas in flood prone areas being submerged. Before then, the Nigeria Meteorological Agency (NIMET) had warned that some states in the country will fall to flood. Anambra was among the state listed, and owing to this, the state government through the State Emergency Management Agency (SEMA) began a campaign to evacuate people from flood plains in the state. Their efforts yielded less fruit as most farmers in flood-prone areas resisted attempt to take them off their residences. The Anambra North Senatorial candidate of the African Democratic Congress (ADC), Hon. Mrs Uzoamaka Peace Obimuonso told THISDAY that most farmers are usually reluctant to leave their farms to IDP camps, after putting in lots of hard work there. He said this was the reason many farmers sometimes get drowned. She said: "It was not easy on our people, even when some of them saw the ferocious nature of the flood, the temptation for them not to abandon the source of their income was high. Some of our people who could not resist the temptation to abandon their farm produce, got drown by the flood. That was the story of some people from Nzam conveying their rice produce to market unfortunately they lost their lives. It was the same story at Ogbaru, where some people had to beg a boat man to ferry them to market, but they still could not make it as a result of overload of goods and persons. "All these death could have been averted

if the people were sure of the source of their next meal. Most times, the farmers borrow money from local money lender, which if they fail to pay back when due, attracts heavy consequences." Death Toll Several stories of death trailed the 2022 flood, unlike other years. The figure of those who died in the flood have been put at about 120. On October 10, a family of six persons reportedly drowned in Nzam, Anambra East Local Government Area. The death which was captured in video showed youths of the community bringing out corpses from a house and depositing them in an upland area. A narrator in the video said the family was already prepared to leave for a safe place the next day, before they were swept away by the flood after they went to bed. The video was later confirmed to be true. In Ogbaru, two boat mishaps, happened on the same day involving about 90 people. While one of the boats, a big sized boat was allegedly carrying 85 passengers when it capsized, a smaller one said to be a flying boats which capsized as a result of engine failure had five passengers in it. All five passengers lost their lives, while only nine people out of 85 were rescued from the bigger boat, leaving as many as 76 dead. This makes 81 persons who lost their lives in one day. In same Ogbaru, A man identified to be the uncle of the local government transition committee chairman, Pascal Aniegbuna was said to have died after he evacuated his family and decided to stay back at home to tend his

farm. He was said to have slept at night and was swept into the flood, where he drowned. His body was later discovered in his apartment after some days. Calls for Help Several calls for help to the displaced people were made, and many well meaning individuals heeded the call, donating household materials, food items and sanitary materials to victims, who had all moved to IDP camps. The National Emergency Management Agency (NEMA), and the Disaster Response Unit (DRU) of the Military using view operation was able to rescue persons displaced or trapped by the then rising floods. Mr Thickman Tanimu, Zonal Coordinator of NEMA, South-East, told journalists that it aided the airlifting of trapped persons in affected communities. "Search and Rescue (SAR Operations) commenced. The Military DRU engaged and started ‘Air Recce’ or Aerial view to collect imagery intelligence of the affected communities. This will help to ascertain displaced and trapped persons who need to be evacuated to pave the way for air lifting." Besides this, Tanimu confirmed that the Presidency and the Director-General NEMA, Mustapha Ahmed-Habib, approved relief materials. He had said: “The relief material will hopefully arrive on Tuesday and be ready for delivery directly to victims. These items are meant to complement the efforts of Anambra State government in providing immediate succour to victims and aid their speedy rehabilitation." Philanthropists, politicians and other good spirited individuals also provided help to victims, who live in several camps within their communities. Dr Amaechi Nwachukwu, a House of Representatives candidate of Zenith Labour Party (ZLP) for Oyi/Ayamelum Federal Constituency, visited an IDP camp in Igbakwu community in Ayamelum. Nwachukwu, a medical doctor donated household and food items to the displaced

The ﬂood has receded, and our people have gone back into the community, but some do not know where to start, because they have lost everything...the aﬀected people also face serious hunger because their crops, barns and farmlands have all been washed away

people, also set up an emergency health centre in the camp to check the health of the victims and also provide them free drugs. He called on other well meaning people of the state to offer help to the victims. "They are suffering. They sleep here in the open, and have lost their homes to flood. Things like this can be devasting, and can trigger health issues, where non exists," he said. The United Nations Population Fund (UNFPA) donated 5,000 dignity kits to the victims, which was taken delivery of by the state's Commissioner for Women and Social Welfare, Mrs Ify Obinabo. A non governmental organization, Sir Emeka Offor Foundation (SEOF) donated; 600 bags of rice, 60 bags of beans, 60 bags of garri, 500 pieces of mattresses, 500 cartons of noodles, 600 tubers of yams, 50 cartoons of tomatoes. Others are; 30 cartons of bathing soap, 30 cartons of washing soap, 30 gallons of palm oil, 30 cartons of beverages, 30 cartons of milk, 50 gallons of vegetable oil, 10 bags of salt and 10 cartons of maggi cubes. Other groups also made donations to better the lives of victims. Anambra State Association of Town Union (ASATU) donated N2million to support persons affected by the flood crises in the state. The Member Representing Anambra East constituency in the State House of Assembly, pharmacist Obinna Emeneka, donated an ambulance, drugs and food items. Also, Anambra State Chapter of Ohaneze Ndigbo donated N500,000 to the state government for this. Time to go Home Meanwhile, in late November, the good news of the flood receding broke, with many of the displaced persons looking forward to going back to their normal lives, away from sleeping in the cold, eating community food and bathing in the open. In the first week of December, most of the displaced persons were ready to return home for a new lease of life. But the sad news is that their home are no longer the serene homes they left behind. THISDAY reporter who moved round the affected communities found that even though the flood was over, the troubles of the people have only just started. For example, Mrs Theresa Mbuasi, a widow from Omor in Ayamelum, with three young children, who was among those who abandoned her home to stay in IDP for three months retuned home to find out that the place she and her tree children Continued on page 21

T H I S D AY ˾ DAY ͯʹ˜ 2023

FEATURES

Reintegrating Anambra Flood Victims

Fence of Ogbaru LGA, Atani, pulled down by the recent ﬂood

call home, which was left behind for them by her late husband had collapsed. Mrs Mbuasi, besides her rice farm, which was totally washed away by the flood, is now faced with the reality of being homeless. She is not the only one in such condition in Omor town. In Ogbaru, many of the residents returned after the three months stay in the camp to find out that their homes have been plundered by hoodlums, and their properties carted away. This is however for those whose houses are still standing, as many houses collapsed, leaving their owners homeless after being under water for months. A visit to many of the local government secretariat in Atani showed that it was also affected, with the secretariat fence pulled down, and some parts of their roads cut into two parts. The troubles of the displaced people is now multi-pronged. For example, when they were in camps, their condition elicited the pity of many people who donated to them, but now that they have returned home to work and fend for themselves, but found that they are faced with diverse challenges, including food shortage, contaminated water and threat of outbreak of diseases. In Ogbaru, a sand dredger, and indigene of Ossomala, Elder Simeon Nwachukwu said: “We returned home after the flood to meet a very smelly place. After the hot sun of the day, we face heavy stench from our homes every night, and we are afraid because it is giving us a lot of discomfort. Meanwhile, The United Nations Childrens Funds (UNICEF) may have observed the difficulty being faced by the people as it has launched a post flood intervention programme to help ease the suffering of the people. During a recent tour of flood ravaged areas to hold a townhall meeting with stakeholders of the areas involved, UNICEF officials said the aim was to see how they can help the people get reintegrated in to the society. During a meeting with stakeholders in Otuocha, Achalla, Atani; the three locations that represent the most ravaged local government areas of Anambra East, Anambra West, Awka North, Ogbaru, Ihiala and Ekwusigo, Officials of UNICEF listened to victims recount their experiences. The Officials first explained their mission in the areas. Enugu Field Office WASH Specialist, Mr. Timi Kiabuku, who led UNICEF officials to the meeting said: "The ongoing UNICEF response to the Anambra flood emergency

is with funding from United Nations Central Emergency Response Fund (CERF), and UNICEF’s response will focus on three sectors – Child Protection, Health and WASH." Also, the Water, Sanitation and Hygiene (WASH) Consultant (Enugu office), Mr Andy Nwanze in his address said it organized the meeting to see how the organisation can support those affected by the 2022 flood, especially now that the flood have receded, and the victims are going back to their homes. The stakeholders on their part expressed fear about the likely outbreak of diseases. Members of various communities in Awka North; chairman of Awka North Local Government Area, Mr Emmanuel Ucheze, executive chairman, Primary Health Development agency, Dr Chioma Ezenyimulu, executive secretary of State Emergency Management Agency (SEMA), Mr Paul Odenigbo and many others recounted the sufferings of the people during the disaster. Ucheze said; "I thank UNICEF for coming to our aid. What we witnessed in this local government during the period of the disaster is something I have never witnessed before, since I was born. We are happy that you have come to intervene, and we are also appealing to other bodies to see what they can do to help our people. "The flood has receded, and our people have gone back into

the community, but some do not know where to start, because they have lost everything." He added that the affected people also face serious hunger because their crops, barns and farmlands have all been washed away. Ezenyimulu added that: "We are concerned about children and their health. We just started measles vaccination to help protect children against disease. As the flood is receding and people are going back to their homes, we are worried about the likely outbreak of diseases. We have started vaccinating the people against Rota Virus to ensure that people remain healthy." In Ogbaru, members of the community lamented the shortage of portable water, as a result of the destruction of their boreholes by the flood, and the contamination of other natural sources of water for the community. Interaction with the people showed that in Ogbaru, Ihiala, Ekwusgo LGA, over 50 hand pumping boreholes, 30 public toilet facilities have been damaged by the flood , and this has caused water scarcity in the affected local government areas, as indigenes fear that other remaining sources of water may have been contaminated. Water, Sanitation and Hygiene (WASH) coordinators in three LGAs, who gave reports of their assessments in the field said the people were living in deplorable situation, despite returning to their homes. WASH coordinator for Ekwusigo Local Government Area, Mrs Queen Udolisa in her report noted that many boreholes drilled for the community by UNICEF have been damaged by the flood, while others had their sumos stolen. "Most of the communities we visited, including markets, we found out that the toilets have been swept off by flood, and villagers are afraid of drinking from their regular sources of water because they fear that it is already contaminated." Also, Chairman of Ogbaru LGA, Mr Pascal Aniegbuna further explained that some of

We acknowledged that since September 2022, the worst floods in a decade affected 2.8 million people, of which an estimated 60 per cent are children, across 34 of the 36 states in Nigeria. Of those affected, 1.3 million people have been displaced, and over 600 people have died in relation to flooding according to government data

the boreholes were not only destroyed by flood, but criminals took advantage of the relocation of indigenes to camps, to steal the sumo of most of the boreholes. "Those are the things we suffered during the recent flooding. Criminals took advantage to plunder many homes. One of my friends had properties in his hotel stolen by criminals. We are appealing to UNICEF and any other groups that can help our people not to relent. Most people came back home after the flood had receded, only to see that their houses have collapsed, and their properties washed away." UNICEF Takes Steps Chief of UNICEF Field Office, Enugu, Mrs Juliet Chiluwe who later spoke to THISDAY in Awka during this invitation said the organization feels pity for the flood affected people, and envisaged that post flood intervention would be very needed, for them to be able to continue to stay in the place. She announced the donation of chemicals for the fumigation of the entire flood affected areas, to avoid outbreak of disease. She disclosed too that no fewer that 600 people lost their lives to the 2022 flood in Nigeria, and that about 1.3million people were displaced. This she said happened in 34 out of the 36 state in the country, between September and October. Chiluwe said: "We acknowledged that since September 2022, the worst floods in a decade affected 2.8 million people, of which an estimated 60 per cent are children, across 34 of the 36 states in Nigeria. Of those affected, 1.3 million people have been displaced, and over 600 people have died in relation to flooding according to government data. Continuous heavy rains have collapsed hundreds of public health facilities, water systems and sanitation facilities, increasing the risk of waterborne diseases, such as cholera, diarrhoea, and malaria." She said UNICEF has donated over 100 drums of chlorine for disinfection of water sources, 40 cartons of Aquatabs for household water treatment and 320 cartons of Ready to Use Therapeutic food (RUTF) to Anambra State government. "To contribute to the effort of government and other development partners, UNICEF, with funding the Central Emergency Response Fund (CERF) has initiated a multisectoral response comprising Health, Child Protection and WASH sectors, to mitigate the impact of the floods support the early recovery-phase of the affected population in Anambra State."

T H I S D AY • MONDAY, JANUARY 16, 2023

This Week In Tech 08097710984

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

2023: A Year of Foreseeable Innovations, Advancements in Technology

hoever experienced the technology drill of 2022, its boom and low points, and its increased integration of advanced technologies and innovations in our everyday lives across the world will be quick to agree that the world has embraced technology more than before. For entrepreneurs, investors, tech professionals, and emerging tech talents, 2022 was not a fantastic year. Regardless, major successes were recorded. There was the high integration of “deep fakes” technology – a hyper-augmented reality and expansion of global internet and satellite reach. The positive improvements bring continents like Africa to the forefront of benefiting from these innovations. For instance, in Nigeria,2022 was a year of great investment in startups and a creative infusion of Mixed reality and virtual reality in every sector of the economy. The following are enough reasons to be excited about 2023.

PREDICTIONS FOR THE NIGERIAN TECH INDUSTRY

The tech industry in Nigeria in 2023 is likely to continue growing rapidly due to increasing access to technology, a growing population, and budding, tech-savvy entrepreneurs. The Nigerian government is likely to play an active role in promoting the tech industry through initiatives and policies, such as investment in infrastructure, more support for startups, and the listing of some startups on the Nigerian Stock Exchange to encourage innovation, entrepreneurship, and funding. Overall, the future looks bright for the Nigerian tech industry, with many opportunities for growth and innovation.

ADOPTION OF ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING

The hunger for artificial intelligence (AI) and machine learning (ML) will skyrocket in various industries, enabling businesses to improve their operations by offering more personalised services to their customers. These technologies have the potential to revolutionise various sectors, such as healthcare, agriculture, and transportation. More investments will likely be seen in these areas and the development of innovative solutions that leverage these technologies. The increasing availability of high-speed internet and the use of mobile devices will drive the growth of e-commerce, AI, ML and fintech in Nigeria.

5G AND BLOCKCHAIN TECHNOLOGY

The increasing adoption of 5G technology will open new possibilities for businesses in areas like telemedicine and the Internet of Things in 2023. We’ll see an increase in the availability and reliability of 5G networks when it is eventually rolled out across the country. Blockchain technology found its path to the Nigerian space, and its potential role in data security and transparency in transactions places it as a big need going forward. People realised it’s not solely about Cryptocurrency as it has opened a whole host of new possibilities for businesses and individuals alike due to its robust security measures and privacy-enhancing capabilities. Aside from penetrating the core sectors, these technologies will empower Nigerian tech companies to solve one of the country’s most pressing problems, such as poverty and unemployment.

LISTING OF NIGERIAN STARTUPS ON NIGERIAN STOCK EXCHANGE

Although the macroeconomic slide in 2022 concerning Initial Public Offerings for startups globally, Nigeria, at the end of the previous year, announced the government’s interest in having Nigerian and African tech startups listed on the Nigerian Stock Exchange. This will go a long way in opening alternative channels for startups and companies to raise funds for their businesses. Even though this listing may not directly affect all the startups or companies in Nigeria, it will serve as a breath of fresh air and hope for emerging tech startups and companies in the new year.

INCREASE IN ALTERNATIVE FINTECH SOLUTIONS

Presently, Africa is at the forefront of the creation of fintech solutions. Many of these alternative fintech solutions have become drivers of major African countries’ economies. The growth potential of this market will be about $230 billion in 2025, and as such, it is expected that more related solutions will litter African nations by 2023. In Nigeria, even though the proptech revolution is relatively new in Nigeria, it is expanding at a rapid pace considering the number of investors showing interest in the sector. There will be an upspring of a lot of proptech businesses this year.

There will also be a sharp rise in fintech solutions, most of which will spread beyond offering banking-centered solutions to penetrating core sectors like agriculture, health, gaming, education, and lots more.

INCREASE IN E-COMMERCE, ONLINE MARKETPLACES

A major trend that we will see in Nigeria is the growth of e-commerce and online marketplaces. Many consumers will continue to turn to the internet for their shopping needs. More businesses will be forced to adapt and offer online products and services. This will lead to an increase in competition, as well as provide opportunities for new players to enter the market. Technology entrepreneurs in Nigeria will need to build strong teams, develop innovative products and services, and find ways to access new markets and customers.

THE METAVERSE, HERE TO STAY

The metaverse and NFTs will be strong actors in the drive for immersive technology innovations going forward. This is owing to the gradual success and acceptability they received in 2022. It has been described as the next level of the internet. Also, the increasing adoption of digital payments and online banking will widen the population of startups and established companies launching innovative solutions to make financial transactions easier and more efficient. Many of these innovations will not only satisfy local consumers but also aim to solve global payment challenges via the complimentary use of advanced technologies.

FORESEEABLE CHALLENGES IN 2023

One challenge the industry is facing and will continue to face is the lack of reliable infrastructure and access to electricity, which will limit and frustrate the growth of some businesses. Another challenge will be the high demand for skilled workers as the industry continues to shed older use technologies for newer ones. To solve this, business owners will have to invest more in renewable energy sources to power their companies and infrastructures. An aggressive approach to training and developing the emerging workforce population is crucial to the survival and continuity of many tech organisations. This is because the young ones are going to take over from experts who are presently leaving the country in search of greener pastures.

PREDICTIONS FOR THE GLOBAL TECH INDUSTRY On the global scene, 2023 will certainly be a cautious year wherein tech companies will be on edge to achieve more with fewer funds, strategically overlap value with innovations,

and make sure every investment is geared towards high-yielding ideas and solutions. Below are major predictions for the global tech industry.

COLLABORATIVE TECHNOLOGY APPLICATION

Despite the wave of various technology trends in 2022, what counts to stakeholders is the collaboration and use of these innovations to solve critical problems in the sector and country. Industry experts and investors have concluded that the new year is filled with uncertainty. This uncertainty breeds new possibilities that foster growth, adaptation, high productivity, profitability, and a real-time solution to unforeseen challenges that may arise. A good example is the collaborative technologies adopted in new electric car production. That is, a combination of cloud and edge computing, applied AI and ML driving mechanisms, use of sustainable consumption and energy filtering technologies in creating vehicle electrification through lighter composites and advanced battery capabilities. The goal of this optimal use of technology is to align electrification, independence, intelligence, and connectivity in redefining possible human mobility.

MASSIVE ADOPTION OF AI, CLOUD COMPUTING

The massive adoption of AI, cloud computing and integration foretell a drastic outlook for more metaphysical interconnectedness. Many tech companies are seriously rooting to have most of their IT environments on cloud as others have stretched themselves into adopting one or more AI solutions to their daily business lives. Many companies will integrate AI into their products and services, which may draw out a stricter IT budget for the year. But tactical players will recognise the potential of this necessary shift. These players understand that investments in automation, data foundations, erasing tech debts, and incessant IT infrastructures increase their chances with modern technologies.

IMPACT OF TECH LAYOFFS IN 2022

Another thing to look out for is the effect of 2022 layoffs on the industry’s performance and productivity chain. Even though 2022 revealed to many tech companies that have a booming fit is never an eternal reality, the call to the tech industry globally is to get going with less – have a culture of spending less to achieve more. A typical example is what Elon Musk did with Twitter when he realised the company was not making enough profit despite its large workforce

strength. He immediately shrunk the workforce and monetised the verification icon on Twitter. Furthermore, another method to achieve this is by drastically maximising the talent pool. There is a clear distinction of roles for tech experts. Allow experts to spend more time on actual developmental functions. Also, the increase of top talent injections into the marketspace is a readiness alert for companies to prepare for a massive talent harvest if they are ready to acculturate regular advancement of their facilities. A perfect sample for this is companies wielding their strength to build solid cloud foundations, allowing their talents to develop appropriate multi-facet application sequences and economically install major cloud capacities.

DECENTRALISED AI INNOVATION

2022 recorded one of the biggest uses of decentralised AI innovations. Unlike what was obtainable before then, decentralisation was just in the hands of limited players. The boom in access to these advanced technologies has endeared more end consumers to AI. The practical reality is seen in the disruptive power of the ChatGPT product. ChatGPT is an AGI (Artificial General Intelligence) product that uses human intellectual sensory models to perform functions like compositions, summary, paraphrasing, and software code adjustment. This increased access has empowered many persons to connect with deep learning and a higher productivity rate globally. 2023 foreshadows a more decentralised tech space where more access will spread across limited big datasets like health, entertainment, agriculture, media, and more. But companies that refuse to jump on this trend might have themselves to blame in the next phase of global advancement signalled by the year 2023.

THE SUPER APP FACTOR

There is a high possibility that 2023 will experience a surge in “super app” startups and organisations. A super-app is a mobile or web application that can provide multiple services, including payment and financial transaction processing. Many businesses will be driven by the need to integrate vertically into the cyclic revenue streams to cut down on developmental implications. A good example of this is what is happening with Twitter, wherein Elon Musk is working hard to turn the app into a super app called ‘X’. This change will allow it to make payments, play games, onboard e-commerce, and live stream events. There will be more “do everything or super apps” in 2023.

CONCLUSION

In conclusion,2023 will be a year of foreseeable technological innovations and advancements. Many will redefine and transition into the new phase of human relationships with technology.

MONDAY JANUARY 16, 2023 • T H I S D AY

24 T H I S D AY MONDAY JANUARY 16, 2023 TR

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Monday January 16, 2023 Vol 27. No 10139

opinion@thisdaylive.com

www.thisdaylive.com

EMMANUEL’S COVENANT IN THE ‘LAND OF PROMISE’ The Udo Emmanuel administration has performed well, reckons JAMES OROK

See page 25 HOLLOW ELECTION CAMPAIGN SPEECHES OKELLO OCULI canvasses sanctions against election campaigns deliberately meant to deceive the people

See page 25

EDITORIAL

TAX WAIVERS AND THE ECONOMY

Barry Ndiomu, the new programme coordinator, has his job cut out, writes TUNDE OLUSUNLE

A NEW PAGE AT THE AMNESTY PROGRAMME As though following a notoriously familiar trajectory, it would seem like every intervention agency emplaced by the federal government to impact on Nigeria’s Niger Delta region, intrinsically VXͿHUV VRPH VSHFLH RI OHDGHUVKLS MLQ[ and dysfunction. The Niger Delta Development Commission (NDDC), conceived by the Olusegun Obasanjo/ Atiku Abubakar administration, and inaugurated in December 2000, has been serially plagued by leadership instability. The Commission was established principally to facilitate the planned, integrated and sustainable multisectoral development of the nation’s oil producing sub-country. ([FHSW IRU LWV SLRQHHU FKDLUPDQ WKH renowned economist and journalist, Onyema Ugochukwu, none of his successors has run a full course of four \HDUV LQ R΀FH DV SURYLGHG E\ WKH VWDWXWHV More unpredictable has been the position of managing director of the organisation which has turned up almost a dozen occupants since the inception of the concern. All manner of nomenclatures has been coined at various times, to describe holders of the position. There have been: Substantive Managing Directors; Acting Managing Directors; Temporary Managing Directors; Sole Administrators and so on. This is even as the organisation continues to bleed from the buccaneer activities of successive leaderships, who have made a veritable “automated teller machine,” (ATM), of the establishment. 7KH FRUH REOLJDWLRQV RI WKH RXWÀW WR LPSDFW VXEVWDQWLDOO\ RQ WKH EHQHÀFLDU\ VWDWHV KDV been largely kept in abeyance. The Presidential Amnesty Programme, (PAP), was initiated and signed into law by President Umaru Yar’Adua June 25, 2009, to stem youth restiveness, militancy and ruination of oil processing infrastructure, in the same oil-bearing sections of Nigeria. The programme was articulated WR H[HFXWH D TXDUWHW RI REMHFWLYHV DLPHG DW PLWLJDWLQJ WKH TXDQWXP ODZOHVVQHVV in the region which at some point, had EURXJKW RLO SURGXFWLRQ ÀJXUHV WR EDUHO\ 700,000 barrels per day. PAP was to pursue the: Disarmament, Demobilisation, Rehabilitation and Reintegration of the PLOLWDQWV %DUHO\ \HDUV LQ H[LVWHQFH LWV WXUQRYHU RI FKLHI H[HFXWLYHV VXJJHVWV WKDW successive heads of the establishment, VFDUFHO\ JURVV WZR \HDUV LQ R΀FH From its inception, PAP has been DGPLQLVWHUHG E\ VL[ FKLHI H[HFXWLYHV Lucky Ochuko Ararile, (a retired air vice marshal); Timi Alaibe, (who once served as managing director of the NDDC) and Kingsley Kuku, (a former member of the Ondo State House of Assembly), were

Special Advisers to the President on Niger Delta and Coordinators of PAP, at various times. Paul Boroh, (a retired brigadiergeneral); Charles Quaker Dokubo, (a SURIHVVRU RI LQWHUQDWLRQDO DͿDLUV DQG Milland Dikio, (a retired colonel), have DOVR IXQFWLRQHG DV FKLHI H[HFXWLYHV RI 3$3 Reports of non-adherence to the founding objectives of the body and mind-boggling ÀVFDO PDOIHDVDQFH KDV UHJXODUO\ GRJJHG the resignations or dismissals of successive KHDGV RI WKH RXWÀW Kuku, for instance has been on selfH[LOH VLQFH WKH RXWVHW RI WKH LQFXPEHQW administration, afraid to answer for the humongous heist committed under his watch. His case reminds of Dieziani AlisonMadueke, petroleum minister under the Goodluck Jonathan presidency, who has found safe haven in diaspora in the past eight years, paranoid about the prospects RI 1LJHULDQ VW\OH LQTXLVLWLRQ $OLVRQ Madueke was Jonathan’s ultra-powerful oil minister who could well have passed for an “alternate president” on account of WKH LQÁXHQFH VKH ZLHOGHG ,QYHVWLJDWRUV once announced a whopping nine million 8QLWHG 6WDWHV 'ROODUV 86' ÀQG LQ WKH home of Boroh, during a search! Such has been the monumentality of thievery, serially and bold-facedly committed in the name of the Presidential Amnesty Programme. ,W ZDV SHUKDSV DJDLQVW WKLV EDFNJURXQG that Muhammadu Buhari, undertook a guided search for a new head of the PAP, to realign and sanitise the serially raped and battered organisation, in the months preceding the conclusion of his presidency. +H QDUURZHG KLV TXHVW WR %DUU\ 7DUL\H Ndiomu, a retired major-general of the Nigerian Army. A press release endorsed by presidential spokesman, Femi Adesina September 15, 2022, named Ndiomu ´,QWHULP $GPLQLVWUDWRUµ RI WKH $PQHVW\ 3URJUDPPH 7UXH RWKHU PLOLWDU\ R΀FHUV have administered the organisation as detailed in preceding paragraphs. 1GLRPX KDV EHHQ VSHFLÀFDOO\ KHDGKXQWHG both on the strength of his well-earned, eminently deserving antecedents.

%DUU\ 7DUL\H 1GLRPX LV WKH RͿVSULQJ of Charles Bebeye Ndiomu, who was also a distinguished major general in his own generation. The older Ndiomu who JUDGXDWHG IURP WKH 8QLYHUVLW\ RI ,EDGDQ in 1963, was commissioned lieutenant in the Nigerian Army, 1964. He was at various times in his most eventful career: Commandant, Nigerian Military School, (NMS), Zaria; Director, Army Education Corps, Lagos, and Director-General, 1DWLRQDO ,QVWLWXWH IRU 3ROLF\ DQG 6WUDWHJLF 6WXGLHV 1,366 .XUX -RV ,W LV D PHDVXUH of how highly the older Ndiomu was held LQ KLV WLPH WKDW KH FKDLUHG D KLJK SURÀOH military tribunal in 1985. The “military court” tried and sentenced former member of the Armed Forces Ruling Council, (AFRC), Mamman Jiya Vatsa and his accomplices to death for complicity in a coup plot against the administration of ,EUDKLP %DEDQJLGD 0\ VLQJXODU ÁHHWLQJ DQG IDLQWHVW encounter with the younger Ndiomu ZDV LQ 0D\ , ZDV LQYLWHG WR WKH ÀUVW \HDU DQQLYHUVDU\ PHPRULDO RI WKH IRUPHU &KLHI RI $UP\ 6WDͿ &2$6 /W *HQHUDO $WWDKLUX ,EUDKLP ZKR GLHG LQ D SODQH FUDVK HDUO\ , KDYH YHU\ VSHFLDO admiration for Attahiru who brought spark and sparkle into his schedule for WKH EULHI SHULRG RI KLV VXSHULQWHQGHQFH , never met him though. Nobel Laureate, Wole Soyinka was also on the bill for the event. As a literary student, it is always a blessing to listen to, read and learn from prodigies and masters of the Word. 1GLRPX DQG , ZHUH LQWURGXFHG WR HDFK other and we shook hands at the preevent cocktail of the Attahiru programme in Sheraton Hotel, Abuja, which has been rechristened “Abuja Continental Hotel.” We melted into the anonymity of our various seats in the events’ hall as the SURJUDPPH SURSHU NLFNHG RͿ Tariye Ndiomu was a toddler when his father joined the army in 1964. He was VX΀FLHQWO\ LQVSLUHG E\ KLV IDWKHU·V FDUHHU evolution, however, that he fantasised about emulating that courageous precedence. He would later join the army as a member of the “Course 29” graduates of the Nigerian Defence Academy, (NDA), and was commissioned second lieutenant in 1983. This was after completing his West $IULFD 6FKRRO &HUWLÀFDWH ([DPLQDWLRQ (WASCE) at the Federal Government &ROOHJH )*& ,ORULQ +H ZDV GHSOR\HG to the elite “military police,” (MP) corps, famous for their red berets and smart *khaki-ed* turnouts. Olusunle, PhD, poet, journalist, scholar and author, is a Member of the Nigerian Guild of Editors

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MONDAY JANUARY 16, 2023

The Udo Emmanuel administration has performed well, reckons James Orok

EMMANUEL’S COVENANT IN THE ‘LAND OF PROMISE’ Recently, the Akwa Ibom State House Attah International Airport Road. Internal of Assembly passed the appropriation roads were also constructed at the Obio bill 2023 of N700bn, N344.005bn for Akpa campus of the Akwa Ibom State recurring expenses and N355.995bn for University. The construction of these roads capital expenditures into law. Reading the has positively impacted commerce and report, it was not surprising that the bill development in the region. It has also made was unanimously accepted and signed the lives of the residents better. Hitherto, into law by the lawmakers. Of course, the the residents could only commute by lawmakers are witnesses to democracy walking, riding bicycles or motorcycles. dividends that have been accruing to )DUPHUV DQG WUDGHUV VXͿHUHG IURP PRYLQJ the state since the inception of Udom from point to point. But thankfully, all that Emmanuel as governor on May 29, 2015. is in the past now. :KLOH WKH JRYHUQRU H[LWV R΀FH E\ 0D\ Taking into cognisance the need to EH IRRG VX΀FLHQW $NZD ,ERP XQGHU Emmanuel has raised the status of agriculture. Currently, the state hosts two fertilizer blending plants and three medium-scale rice mills including the Ibom Golden Rice mill, owned by Ibiono Ibom Rice Millers Cooperative Society. The Ibom Golden Rice Mill which services WKH ULFH ÀHOG LQ ,NRW (VHQ 8WLW 2ELR Ibiono Ibom local government area began production around December 2019. The state government also embarked on large-scale vegetable farming and cassava cultivation and processing of staples like garri and fufu. 29, it is instructive to x-ray the incursion of On healthcare, the state government Emmanuel on the Akwa Ibom landscape. In remodelled Etinan General Hospital, WKH ÀUVW WHUP RI KLV DGPLQLVWUDWLRQ DPRQJ Methodist Hospital, Ituk Mbang, other things, the governor constructed General Hospital, Iquita-Oron asides roads - building more than 1,000 kilometers other interventions. The Emmanuel of highways across the state. This singular administration was also at the forefront act opened up production in the state, of combatting the Covid-19 pandemic DOORZLQJ IRU H΀FLHQW ÁRZ RI JRRGV DQG with the governor in constant meetings services. And in 2019 when he earned a with medical practitioners on solutions. second term, Emmanuel was not done with 7KH HͿRUWV UHVXOWHG LQ SUDLVH IRU $NZD roads. “We will surpass this achievement Ibom by the National Centre for Disease with an emphasis on commercially viable Control (NCDC) for establishing the best highways,” he said, while delivering the two Polymerase Claim Reaction (PCR) laboratories in the country. inaugural address of his second term. And Emmanuel did exactly that. A roll And making history as the only call of completed road projects include Nigerian state with an airline, Akwa Ibom the dualisation of the Uyo-Ikot Ekpene State founded Ibom Air on June 7, 2019 highway, the construction of the 6.4km with three aircraft. Currently, it has nine Nto Edino-Ekwere Azu highway with DLUFUDIW LQ LWV ÁHHW DQG LQ 'HFHPEHU two bridges of 45m span at Obot Akara ,ERP $LU ÁHZ LWV WZR PLOOLRQWK SDVVHQJHU LGA; construction of the Nto Ide-Ikot DIWHU VFKHGXOHG FRPPHUFLDO ÁLJKWV Aruba bridge with an 80m access road; ,Q WKH ÀUVW TXDUWHU RI WKLV \HDU WKH DLUOLQH construction of 21.5km of Ikot Anyan LV SODQQLQJ RQ Á\LQJ UHJLRQDO URXWHV LQ Ediene Ikot Ntia-Urua Nara-Ikot Nseyen Africa. The state government also built an Nkwot Nung Ukim Road with a 45m beam international terminal and an additional bridge. The Emmanuel administration taxiway at the Victor Attah International also completed the doubling of the 29km Airport. Etinan-Ndon Eyo highway with bridges Also, under Emmanuel’s watch, was bolstered. Aside and spurs from Mbioto Ekpene Ituen to education the Ikot Abasi Ishiet junction, doubling from primary and secondary school of the 23.4km Etinan-Eket road, doubling education being free in Akwa Ibom, the of 19.5km Eket-Ibeno Road Road, with state government also spends about bridges, dualization of 9.5km Ring Road N600m annually to pay the West Africa 3 (from Aka Road-Oron Road-Nwaniba Examination Council fees of its students. Road with roundabouts), dualization of And collaborating with the navy and 3.2km Ring Road 2 (from Abak Road-Akan army to set up secondary schools in Road via Udo Udoma roundabout) and Akwa Ibom, the state government also construction of the 14.1km Odoro Ikpe/ constructed and renovated over 500 school Ikot Nkon Obotme Arochukwu road with blocks through the Inter-Ministerial Direct Labour Committee. This is in addition a 110m span bridge. In addition, the administration to the 601 projects including class room constructed 19km Etebi-Enwang highway blocks executed by State Universal Basic in Esit Eket and Mbo local governments, Education Board (SUBEB) through 12.7km Awa Iman-Asong-Ikot Edim-Ikot matching grants. Emem highway in local governments of Recognising the importance of electricity Onna and Mkpat Enin, the construction of to a modern economy, in 2019, Emmanuel a 19.3km Anua-Mbak-Ishiet road, as well promised to provide infrastructure to as the construction of the 15km Ikot Akpan increase electricity supply to Akwa Afaha-Ikot Oku Usng road in Ukanafun Ibomites. local government and the expansion of Orok Oron Road from Ring three to Victor writes from Uyo

OKELLO OCULI canvasses sanctions against election campaigns deliberately meant to deceive the people

HOLLOW ELECTION CAMPAIGN SPEECHES Candidate Bill Clinton once became alarmed about candidates paying brilliant psychologists to design television advertisements for manipulating voters in American elections. Accordingly, there were severe declines in people casting their votes. Nigeria’s Independent National Election Commission reported on 31st December, 2022 that two million people had not collected their Voter Cards in Lagos State alone. In a previous election in Anambra State only 10 per cent of registered voters had voted. Clinton’s “It’s the Economy Stupid’’ shaped what American voters should worry about. He played a saxophone inside a club to draw out those alienated from voting.

He also passionately embraced Ms LOWINSKY during a campaign beat. His focus on the economy touched hearts and minds of many who were not raking millions out of the American economy. They gave him their votes. In African politics, Mwalimu Julius Nyerere focused on how the economic EHQHÀW RI FRPPRQ FLWL]HQV E\ FUHDWLQJ ‘’UJAMAA VILLAGES’’. Rural households were assembled to enable them share access roads, boreholes, health clinics, fertilizers, and schools. They pooled their labour and sweat to create common large farms and earn higher incomes. Socialist critics from Sweden and Norway accused the scheme for not being a ‘’SOCIALIST’’. Nyerere’s retort was contemptuous. Colonialism, he said, did NOT build industries similar to what created Britain’s capitalists and millions of productive angry ‘’proletariat’’ revolting and FDSWXULQJ D FDSLWDOLVW HFRQRP\ IURP D VHOÀVK ‘’bourgeoisie’’. Germany and Britain had treated Tanganyika’s peasant farmer with genocidal brutalities and exploitation. It was angry villagers who voted his political party into power; and deserved to be rewarded. Kwame Nkrumah in Ghana alarmed British and American diplomats by sending to East Germany, Hungary and other Communist countries thousands of youth graduates from Primary and Secondary Schools. They learnt vital skills, including: painting houses; tailoring; furniture-making; motor mechanics and fabrication. They would not be like the few graduates of Engineering who cannot repair a mechanical fault in a car or truck. Nkrumah probably wished to follow Japan’s road of FABRICATING machines they import from Euro-America; Ghana’s economy evolving from a market to becoming a competitor. Politically, the youth would NOT become angry swamps of unemployed youths.

In Tunisia under Habib Bourguiba focused on taking economic resources to the masses by reversing Europe’s model of a majority of the population working inside urban-based industries, urban services, while a minority worked in large farms which feed urban populations and factories. Government helped rural cooperatives to fabricate and invent machines for processing their farm products for export to urban and foreign markets. Nyerere and Bourguiba remained highly popular. They believed in, and practiced open discussion with the people in CREATIVE speech about policy choices. Bourguiba persuaded religious leaders to proclaim that any educated person who chose to be a French citizen would not be buried according to Islamic rites. He won women’s right to education; and that it was against national development to weaken Tunisians with Ramadan FASTING while Europeans are working with full strength. Cuba shows a rich example of a poor post-colonial and highly exploited country exciting his people into patriotic creativity. With speeches which lasted over FIVE HOURS, he built creative public resistance to America’s military, economic, political and propaganda hostilities. With voluntary community cleanup activities, they collectively eliminated MALARIA from their country without reliance on chemical poisons to eliminate mosquitoes. Their scientists are constantly inventing vaccines and pharmaceutical medicines due to calls to defend Cuba’s freedom against a real enemy 90 km away. President Mobutu Sese Seko adopted Fidel Castro’s marathon speeches around the country to build hope, pride, selfreliance and creativity among people ZKR KDG VXͿHUHG IURP FLYLO ZDUV IURP independence on June 30, 1960 to mid1970s. His people’s music chased EuroAmerican pop music out of Africa. The inventive creativity of woman was capped by an invention of mechanical WUD΀F SROLFH JDGJHW The United States continues to use speech to sustain a culture of INVENTION; joining in VOLUNTARY FRPPXQLW\ DFWLYLWLHV WR ÀJKW RYHU UDFLDO discrimination and economic inequalities. Hollow campaign speeches poison political culture by showing voters that politicians regard them as ignorant, helpless and gullible idiots. In Uganda’s 2020 elections, President Museveni’s tactic of blaming Member of Parliament from constituencies in Buganda for lack of government services in constituencies did not prevent Bobby Wine’s party from sweeping polls in the region. Nigeria’s media should educate politicians about this tradition of building QDWLRQV XQGHU GL΀FXOW FRQGLWLRQ Hollow election campaign speeches have corrupted electoral culture and induced ‘’vote selling’’. Kenya outlawed ‘’Hate Speech’’. Hollow election campaign speeches deserve similar legislation. Prof. Oculi writes from Abuja

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T H I S D AY

MONDAY JANUARY 16, 2023

EDITORIAL

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

TAX WAIVERS AND THE ECONOMY Indiscriminate waivers are killing local initiatives and fuelling corruption

credit for infrastructure is a good initiative. We have he Lagos Chamber of Commerce and seen some roads from that initiative. But there have Industry (LCCI) is advising the federal also been reports over several years that the pioneer government against the plan to remove policy is being abused. Many who do not pioneer the waivers, incentives and exemptions anything can access it just by adding another line to granted some large enterprises on existing factories. grounds of Pioneer Status Incentives. Ordinarily, there is nothing wrong with waiver “Leaving rates at their levels will not lead to a loss which is one of the instruments used by government of revenue,” according to the LCCI Director General, DOO RYHU WKH ZRUOG WR DFKLHYH VSHFLÀF VHW JRDOV DQG Chinyere Almona. We understand the position of the objectives in line with their economic aspirations. LCCI, but we do not agree with it. For years, there However, the way and manner it is granted in have been serious questions about indiscriminate Nigeria has over the years raised fundamental tax waivers that have contributed to our national questions about transparency and accountability. economic malaise. In fact, the use of waiver In the Finance Bill has been bastardised to 2022 passed by the the extent that successive National Assembly, the administrations in the federal government had The use of waiver has been bastardised to the extent that successive country have turned it into sought amendments to an avenue for monumental administrations in the country have turned it into an avenue for key provisions in the graft as top government Capital Gains Tax Act monumental graft R΀FLDOV FRQQLYH ZLWK VRPH under which most of unscrupulous elements in these controversial tax the private sector to corner waivers, incentives, and billions of naira into their pockets and that of cronies. T H I S D AY exemptions (revenues not coming to government) are EDITOR SHAKA MOMODU 7RGD\ QR RQH FDQ JLYH D VSHFLÀF ÀJXUH RQ WKH captured. And with the impending removal of fuel DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA exact amount Nigeria has lost to the indiscriminate subsidy that would quite naturally impact negatively MANAGING DIRECTOR ENIOLA BELLO granting of waiver, because the practice is as on the welfare of the people, it cannot continue with DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU rampant as it is uncoordinated since it is done at these ideas. Granted that waivers and exemptions CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI the instance of the president and ministers. In 2011, are sometimes necessary to provide incentives for EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN the House of Representatives revealed that not less MANAGING EDITOR BOLAJI ADEBIYI businesses to expand, to generate jobs and grow THE OMBUDSMAN KAYODE KOMOLAFE than 183 undertakings and individuals were at the the economy. But many studies also reveal that SHULRG EHQHÀFLDULHV RI WD[ ZDLYHUV H[HPSWLRQV DQG most waivers that have been granted in our country concessions running into several billions of naira that amount to leaving money on the table and they should ordinarily accrue to the federation account. LQFHQWLYLVH FROOXVLRQ EHWZHHQ JRYHUQPHQW R΀FLDOV T H I S D AY N E W S PA P E R S L I M I T E D The list is today far longer. EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA and their business cronies. GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, There is therefore no better time than now to $ UHYLHZ RI WKH HͿHFWLYHQHVV RI H[LVWLQJ ZDLYHUV ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI plug all the loopholes the granting of waiver (not just pioneer status) will thus be necessary for DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, has been subjected to over the years. The federal any government that is interested in increasing ANTHONY OGEDENGBE government should get serious and stop paying lip UHYHQXH 7KH EXVLQHVVHV EHQHÀWLQJ IURP WKHVH DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI service to growing the local economy. The regime of SNR. ASSOCIATE DIRECTOR ERIC OJEH waivers will always protest such a review and often ASSOCIATE DIRECTOR PATRICK EIMIUHI indiscriminate waivers, incentives and exemptions threaten economic collapse. That is also normal. ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI is killing local initiatives and fuelling corruption. We Some incentives may be necessary and useful. To CONTROLLERS DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO VXSSRUW HͿRUWV E\ WKH IHGHUDO JRYHUQPHQW WR UHYLHZ that extent, the federal government should conduct TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com the policy, using the newly signed legislation. its own studies and run models. For example, tax

Letters to the Editor Letters in response to speciﬁc publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

LETTERS AUTO CRASHES ON THE BAUCHI-JOS ROAD According to the World Bank in December 2022, Nigeria is one of the countries with the highest rate of road accidents globally. Also, the Federal Road Safety Corps has reported that a total of 32,617 persons lost their lives to road crashes in Nigeria from 2016 to 2021. The statistics revealed that 5,053 lives were lost in 2016; 5,121 in 2017; 5,181 in 2018; 5483 in 2019; 5574 in DQG DERXW GLHG LQ )RU WKH ÀJures are yet to be ascertained. Although the menace is all over the county, Bauchi-Jos road has been said to be recording more accidents within these years. The FRSC, Bauchi State commander Yusuf Abdullahi, revealed that the sector has recorded 402 deaths in three years from 2020 to 2021. Given the above, one can say that after the Boko Haram insurgency and banditry, road accident is the third major crisis Nigeria is experiencing. However,

experts have attributed 60% of the problems to reckless driving and over-speeding, though 30% is said to be a result of the poor condition of roads nationwide. Similarly, another 10% is attributed to the lack of VWDQGDUG ÀUHÀJKWLQJ WUXFNV RQ WKH FRXQWU\·V PDMRU KLJKZD\V PXOWLSOH YHKLFOHV DUH HQJXOIHG LQ ÀUH WKH moment accidents occur, and this has led to the burning to death of many travellers. When there are such DFFLGHQWV RQH KDUGO\ ÀQGV DQ\ PHDQV RI H[WLQJXLVKLQJ WKH ÀUH Recently, on 4 January 2023, 18 people were burnt to death along the Bauchi -Jos highway in a ghastly motor accident. Immediately after the accident the YHKLFOHV FDXJKW ÀUH DQG WKHUH ZDV QR ÀUHÀJKWLQJ WUXFN WR SXW RͿ WKH ÀUH $ ORW RI DFFLGHQWV KDSSHQHG along the road whereby many travellers were burnt. On March 2018, a trailer collapsed in the Panshanu D[LV FDWFKLQJ ÀUH DQG FODLPLQJ WKH OLYHV RI VHYHQ SHR-

ple, 39 cows and eight goats. On 10 August 2022 in Babale village, Jos, Plateau State, 10 lives were lost and 18 others sustained various degrees of injuries. The non-dualisation of the roads linking the northeast and the north-central regions is another factor for frequent accidents along the Bauchi-Jos road. In 2018 the federal government approved over N348 bilOLRQ IRU WKH URDG \HW WKHUH LV QRWKLQJ RQ JURXQG ,·P DSSHDOLQJ WR WKH IHGHUDO JRYHUQPHQW WR SURYLGH ÀUHÀJKWLQJ WUXFNV DORQJ WKH QDWLRQ·V KLJKZD\V WR KHOS in protecting lives and properties of the citizens. Else the federal should help in the continuation of the already awarded dualisation of the Akwanga-Jos-Bauchi and Gombe roads. Ukasha Rabiu Magama, Magama Toro LGA, Bauchi State

T H I S D AY ˾ MONDAY, JANUARY 16, 2023

BUSINESSWORLD R A T E S MONEY MARKET

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

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EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

How FG Spent $14.37bn to Service World Bank, Other Debts in 8 Years

Kayode Tokede Amid fears that debt services and payments is constituting a major threat to Nigeria’s economy, it has emerged that the federal government spent a whooping $14.37billion in eight years under President Muhmmadu Buhari administration to settle International Monetary Fund (IMF), among other foreign debt obligations. The latest “international payment” data released by the Central Bank of Nigeria (CBN) showed that from

2015 to 2022, the amount paid on foreign debts have continued to increase with 2022 hitting second highest in the period under review. The debt services and payments, it was learnt, were made on behalf of the federal government alone excluding 36 states and the Federal Capital Territory (FCT). Extract from the data revealed that the CBN debt services in 2022 increased to $2.49billion, representing an increase of 17.17per cent from $2.13 billion in 2021.

The 2022 month-on-month breakdown showed that the CBN in January spent $101.3 million to service debts; it increased by 219.71 per cent to $213.3 million in February; and increased further to $345.36 million in March. In April 2022, the CBN disclosed that $82.99 million was spent on debt service; it moved to $178.11 million in May, and closed June at $336.85million in June. In July, the amount used to services debt hits highest figure at

$426.18million, the highest and in August, it dropped to $51.15million. For September and October the figures reported by the CBN were $112.5 million and $262.69million, respectively. However, between November and December of 2022, the CBN revealed that $225.4million and $45.64million was spent in debt services and payments respectively. The data revealed that 2021 has the highest debt services and payments, a whopping sum of

$5.77billion and this was year the federal government borrowed N7.3trillion to bridge its budget deficit. Specifically, the federal government’s actual expenditure of N11.69 trillion vastly exceeded its 2021 generated revenues of N4.39 trillion. The government has been running a fiscal deficit for at least 11 years; however, the 2021 deficit is simply remarkable and is 22 per cent higher than the N5.98 trillion deficit recorded in 2020.

The data further revealed the CBN withdraw $1.34 billion in 2019 for debt servicing and payment and $1.47billion in 2018. THISDAY gathered that between 2015 and 2017, the CBN spent a sum of $1.17billion on debt services and payments with an average $444.77million spent in 2017 alone. As Nigeria’s debt profile continued to snowball and its attendant cost worrisome, analysts have stressed Continued on page 29

Experts Predict Higher Interest Rates in 2023, 3.5% GDP Growth Nume Ekeghe Analysts at Access Pensions Limited have predicted that with persistently elevated inflation, limited fiscal space, upcoming general elections and various economic occurrences would suggest that the interest rate environment will remain high all through 2023. They stated this in a report titled, “Nigeria 2023 Outlook: A game of two halves for 2023 as Nigeria reaches another political inflection point,” released over the weekend. Also, they predicted that foreign portfolio investors would continue to abstain and divest from Nigeria

pending the direction of a new government as well as predicting that Nigeria’s Gross Domestic Product (GDP) growth for the year would hover around 3 to 3.5 per cent. According to them, “In terms of investment opportunities, we view the combination of inflation remaining sticky at elevated levels around 18-20 per cent, the potential for further Naira adjustments and large government borrowing requirements with limited fiscal recourse to Central Bank of Nigeria (CBN) financing as suggestive of a high-interest rate environment over 2023. “After two years of unorthodox

monetary policy, we expect the CBN will look to tighten policy to bring down inflation and stabilize the currency by raising the returns for holding Naira. For equity markets, while a smooth transition of power is positive for investment outlook, we expect offshore investor appetite for Nigerian equities to remain weak pending a credible adjustment in the Naira and increased flexibility in the exchange rate system.” This leaves equity market outlook, as has been the case over the last three years, dependent on the activities of domestic institutional investors.” The report reiterates that U.S. Dollars repatriation trade will continue to support valuations for

dual-listed stock while consumer names may continue to struggle under the weight of an inflationary environment. On Nigeria’s growth prospects, the analysts stated, “In between the election and transition, we expect economic activities to muddle through the year and see real GDP growth around at 3-3.5 per cent in 2023, flattered by a recovery in oil output from the depressed theft driven levels of 2022 and stabilization in the non-oil sector. Against this backdrop and clarity on the political scene after the elections, we think the CBN could look to improve USD supply within the official segment and

tolerate some weakening in the IE window exchange rate towards levels north of N500/$. In the face of potential adjustments to petrol prices and persisting Naira weakness, we expect inflation to remain elevated over 2023 which will likely see the CBN retain a hawkish stance on interest rates over the year.” The reported added that a large fiscal deficit will continue to require higher domestic borrowings but without the option of Ways & Means financing from the CBN. “The last budget of the Buhari tenure follows the trend of debtpowered fiscal expansionism with a record expenditure plan set at

N21trillion. To fund the record outlay, the FGN projects total revenues at N9.7trillion split across oil (N1.92 trillion) and non-oil (N8.9 trillion) predicated on a benchmark crude price of $70 per barrel and production levels of 1.69mbpd. Pending a clean break from the petrol subsidies currently funded via the crude-for-refined product swap we think revenues are likely to tail projections, as such financing requirements will remain large in the face of potentially reduced funding from the CBN. The latter point reflects the likely conclusion Continued on page 29

M A R K E T D ATA A S AT F R I D AY, J A N U A R Y 1 3 , 2 0 2 3 BONDS DESCRIPTION Price ^14.20 14MAR-2024 ^13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

10.335, 00 10.339, 00 10.129, 00 11.289, 00 10.543, 00

Yield 11.02 11.71 11.98 12.24 12.50

Change Updated Time (%) January -0.01 13, 2023 January 0.11 13, 2023 January -0.01 13, 2023 January 0.00 13, 2023 January 0.00 13, 2023

BILLS MATURITY

Discount

Yield

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

1.53

1.54

1.83

1.84

2.43

2.44

NTB 11May-23

2.70

2.72

Change Updated Time (%) January 0.00 13, 2023 January 0.00 13, 2023 January 0.01 13, 2023 January -0.31 13, 2023 January -0.54 13, 2023

OTC F X F U T U R E S

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

Change Updated Time (%) January 8.08 8.20 -0.24 13, 2023 January 13.12 13.50 -0.33 13, 2023 January 9.52 9.74 -0.39 13, 2023

Discount Yield

. .

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

Current Rate Updated Time ($/₦) January 469.87 13, 2023 January 472.05 13, 2023 January 474.23 13, 2023 January 476.42 13, 2023 January 478.60 13, 2023

MONDAY, JANUARY 16, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

APSAN Laments 20 Years Extortion on Agro Commodities by Illegal Checkpoints Gilbert Ekugbe The Agricultural Produce Sellers Association of Nigeria (APSAN) has cried out that the mounting of illegal checkpoints to extort money from its members in the Middle Belt is one of the factors responsible for the skyrocketing price of food items. The National President of APSAN, Mr. Aloys Akortsaha, told THISDAY in a telephone interview that for over 20 years, the incessant extortion has continued to make food prices expensive for the common man in the country. Akortsaha said that the cost of transporting food commodities from one state to another is far more expensive than the cost of the commodities. He said: “This is why the prices of commodities are skyrocketing in the country. For instance in Benue State where a lot of agricultural commodities such as yam, groundnut

comes from, we have over 200 illegal checkpoints while the Benue State Internal Revenue Service that is saddled with the responsibility of collecting taxes has just about 15 checkpoints. “Each local government you pass through, you will cross at least over 20 illegal checkpoints. It is a survey we have carried out and these illegal checkpoints were established by the community youths in collaboration with the traditional rulers of the respective communities.” In his words: “These illegal checkpoints were established to extort money and they are a source of concern for farmers and food security in the country. We have been battling with this extortion for over 20 years and the government is aware of this. We have taken this fight to the Federal Inland Revenue Service (FIRS), Public Complaints Commission, Inspector General of Police to cooperate with us to fight

these illegal checkpoints.” He said that the extortion from each checkpoint varies, stressing that some illegal checkpoints charged about N100,000 per vehicle “For instance, they collect as much as N100,000 from Mercedes 911 vehicle while some collects about N50,000. The government is also losing a lot as a result of the operations of these illegal checkpoints. “We are calling on the attention of the federal government to the operations of these illegal checkpoints. We have met with the Minister of Agriculture and we proposed a task force, which we call ‘Taskforce on Illegal Taxes of Agro Commodities’ that will be looking into this. He is yet to act on it and we want him to expedite actions on the inauguration of this taskforce to address the activities of these illegal checkpoints,” he urged.

World Food Prices Dip by 1.9% in December 2022 Gilbert Ekugbe The Food and Agriculture Organisation (FAO) food price index has revealed that world food prices dipped in December 2022 by 1.9 per cent from the previous month. The food price index also averaged 132.4 points in December, 1.0 per cent below its value a year earlier, but however stated that for 2022 as a whole, the index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 143.7 points, 14.3 per cent higher than the average value over 2021. The FAO Chief Economist, Maximo Torero, said: “Calmer food commodity prices are welcome after two very volatile years. It is important to remain vigilant and keep a strong focus on mitigating global food insecurity given that world food prices remain at elevated levels, with many staples near

record highs, and with prices of rice increasing, and still many risks associated with future supplies.” The report added that vegetable oil’s world quotations led the decrease, with the FAO Vegetable Oil Price Index going down by 6.7 per cent from November to reach its lowest level since February 2021. Torero added that international quotations for palm, soy, rapeseed and sunflower seed oils all declined in December due to subdued global import demand and prospects of seasonally rising soy oil production in South America as well as declining crude oil prices. The FAO Cereal Price Index also decreased by 1.9 percent from November. Ongoing harvests in the southern hemisphere boosted wheat exportable supplies, while strong competition from Brazil drove down world maize prices. Conversely, international rice prices rose, buoyed by Asian buying and

currency appreciation against the United States dollar for exporting countries. The FAO Meat Price Index in December also dropped by 1.2 percent from November, with lower world prices of bovine and poultry meats outweighing higher pig and ovine meat prices. International bovine meat prices were impacted by lackluster global demand for medium-term supplies, while more-than-adequate export supplies pushed down poultry meat prices. Pig meat prices rose on the back of strong internal holiday demand, especially in Europe, The FAO Dairy Price Index increased by 1.2 percent in December, following five months of consecutive declines. Higher international cheese prices, reflecting tightening market conditions, drove the monthly increase in the index, while international quotations for butter and milk powder declined.

Wakanow Appoints Adenike Macaulay as CEO Chinedu Eze The Board of Directors and Management of Wakanow Group has appointed Mrs. Adenike Macaulay as Chief Executive Officer of Wakanow Nigeria effective January 2023. The company said Mrs. Macaulay is a transformational leader with several years of experience in the travel industry and has led commercial activities for Wakanow since July 2021 as Chief commercial officer. While announcing her appointment, the Group CEO of Wakanow Group, Mr. Bayo Adedeji said, “We are delighted to announce the appointment of Mrs. Adenike

Macaulay as the Chief Executive Officer of Wakanow. She has been an invaluable addition to the management of Wakanow since she joined us and with her vast experience and exposure in the aviation sector, we definitely will consolidate our growth trajectory in Nigeria”. “We are expanding into new verticals and Countries in Africa & beyond to take advantage of new business opportunities in the emerging competitive landscape leveraging our deep competence and expertise in the travel tech industry, and I will be leading this venture as Group CEO” he added. We are very excited about the

bright future ahead of us in the African travel and tourism industry by providing end-to-end services easily accessible to every African by leveraging technology and strategic partnerships. The new Chief Executive Officer, Mrs. Adenike Macaulay said, “ The past 18 months with Wakanow have been immensely exciting as we have recorded several milestones and record breaking results in the history of the company. I’m excited to take on the new responsibility saddled upon me by the board and management of Wakanow and look forward to leading and building with an immensely talented team.”

Kijazi Appointed WMO Regional Director Chinedu Eze Dr. Agnes Kijazi, has been appointed as the new World Meteorological Organisation (WMO) Director, Regional Office for Africa (RAF). Dr. Kijazi resumed office on 10 December, 2022, according to a statement signed by Dr . Kosmos E. Akande-Alasoka (DPA), Public Information Officer, World Meteorological Organization (WMO). Before her appointment, she was the Director General of the Tanzania Meteorological

Authority (TMA) and Permanent Representative (PR) of Tanzania with the World Meteorological Organization (WMO) and the Third Vice President of the Word Meteorological Organization (WMO). She has more than 30 years of working experience in Meteorology at national and international levels, a career she started in 1988. Dr. Kijazi has remained engaged in meteorological operations and management in various positions during this period. She has vast experience in meteorological infrastructure and technology;

research, modelling and prediction; data management and information sharing; and quality assurance and risk management. Dr Kijazi has also served in various positions at the regional and global levels. She served as a member of the WMO Executive Council, member and Co-Chair of the UN-10 Member Group to support the Technology Facilitation Mechanism (TFM), Member of the International Affairs Committee of the American Meteorological Society (AMS) and Chair of the SADC-Meteorological Association of Southern Africa (MASA).

PenCom Cushions Unemployment as 40,646 RSA Holders Accessed N26.9bn in 2022 The National P e n s i o n Commission (PenCom) approved the payment of N26.9 billion to 40,646 Retirement Savings Account (RSA) holders who were disengaged from work in 2022. The Pension Reform Act 2014 (PRA 2014) allows pension contributors to access 25 percent of the balance of their RSA in the event of a temporary job loss. Temporary job loss, as established by the PRA 2014, is when an employee who loses a job cannot secure another employment after four months. Pension Fund PENCOM DG, Aisha Dahir-Umar Administrators under the age of 50 years and were unable (PFAs) made the N26.9 billion payments to RSA holders to secure another employment four months who lost their jobs, and were under 50 after the date of their disengagements. A breakdown of the payment approvals years old and did not secure jobs within in 2022 showed that during the first quarter, four months of their disengagement. Section 7 (2) of the PRA 2014 states the Commission approved PFAs’ requests that “where an employee voluntarily to pay N5.66 billion to 9,966 RSA holders retires, disengages or is disengaged that were disengaged from employment. In from employment as provided for under the second quarter of the same year, PFAs section 16 (2) and (5) of the PRA 2014, paid N6.65 billion to 9,250 RSA holders the employee may, with the approval of in respect of job loss. In the third quarter, the Commission, withdraw an amount N8.28 billion was disbursed to 11,913 RSA of money not exceeding 25% of the total holders, while during the fourth quarter, amount credited to his RSA, provided that the Commission approved PFAs to pay such withdrawals shall only be made after N6.31 billion to 9,966 RSA holders. Furthermore, the PRA 2014 provides 4 months of such retirement or cessation of employment and the employee does that where an employee has accessed the 25 percent for temporary loss of job, not secure another employment.” The above provision of the PRA 2014 such employee shall subsequently access is one of the novel changes made by the the balances in the retirement savings Contributory Pension Scheme. Unlike account only at the time of retirement. Notwithstanding the provision of the old Defined Benefits Scheme (DBS), which left many employees who lost section 7(2) of the PRA 2014, it is their jobs without retirement benefits. pertinent for RSA holders to understand Section 7(2) of the PRA 2014 guaranteed that the CPS is designed to cater for financial security to employees under life at retirement. Therefore, the RSA is the CPS as they have their RSA balances unlike the regular savings account with to fall back on in case of temporary job a commercial bank, where a customer loss. It is pertinent to note that RSAs are deposits and withdraws funds at any individualised; therefore, account holders time. Consequently, all withdrawals can change employers without the fear from an employee’s RSA are based on conditions allowed under the PRA 2014, of losing their retirement benefits. From the inception of the CPS to the end including the 25% access for temporary of 2022, PenCom has approved N188.51 job loss. In conclusion, it is noteworthy that an billion in respect of 453,686 requests from individuals seeking to access 25 percent employee who had accessed 25 percent of their RSA balances due to temporary of his RSA balance due to job loss is expected to resume pension contribution loss of employment. The payment approvals were granted to once he secures another employment PFAs after the Commission authenticated by providing his new employer with that the RSA holders who lost jobs were his RSA details.

T H I S D AY ˾ MONDAY, JANUARY 16, 2023

BUSINESSWORLD

STATUS REPORT

NAHCO: Revenue Growth Lifts Profit to N2.11bn

he Nigerian Aviation Handling Company (NAHC0) Plc result and accounts accelerated further with an upward growth in earnings in the second quarter (Q2) and built a bigger profit of N1.1 billion in the third quarter (Q3) than the N968 million profit it posted at the half-year. The closing profit of N2.11 billion for the nine months ended September 30, 2022 from N725.15million reported in September 2021 is already close to three times the figure the aviation company reported for the 2021 full year. The Q3 2022 unaudited financial report of the aviation services company at the end of September 2022, shows that it is experiencing another outstanding profit growth after lifting profit a clear 115 per cent at the end of 2021. Sustaining improvements have seen quarterly profit numbers jump from N278 million in the first quarter(Q1) to about N690 million in the second quarter (Q2) and accelerating further to N1.1 billion in Q3 2022. While profit more than doubled at 105.7 per cent quarter-on-quarter (QoQ) in Q2 2022, it sped up to more than five times in the third quarter. Strong revenue growth with slowing costs remains the benign combination underlying the company’s impressive profit advances since 2021.

Revenue growth gained a lot of speed from less than 46 per cent QoQ in the Q2 to 75.8 per cent to N4.8 billion in Q3 2022 from N2.74billion in Q2 2021. In nine months, the company reported N11.28billion revenue, representing 51.5per cent increase from N7.44billion reported in the corresponding nine months of 2021. The nine-month revenue figure has already beaten the N10 billion mark at the end of 2021. Extracts from the profit and loss showed a revenue from contracts with customers increase to N N7.2billion in nine months of 2022 as against N3.42billion in nine months of 2021, while revenue from cargo handling (Import Cargo), Cargo handling (Export Cargo) and equipment rental and maintenance increased to N4.7billion in months of 2022 from N4.19billion reported in nine months of 2021. Input cost moderated at an increase of 49 per cent over the same period to N2.5 billion. The resulting cost saving lifted gross profit by almost 117 per cent QoQ to N2.3 billion in the Q3 2022. Significant cost saving was made from administrative expenses, which moderated further from about a 34 per cent increase QoQ in Q2 2022 to 22 per cent to N921 million in the Q3 2022. That again added speed to operating profit, which multiplied close to four

times QoQ to N1.5 billion in Q3 2022.

THIRD-LEVEL COST SAVING Finance expenses again provided a third-level cost saving, closing flat at less than N47 million for the Q3 2022 quarter against some improvement in finance income. The company gained yet further momentum in pre-tax profit, which jumped more than four times QoQ to roughly N1.5 billion for the quarter. The top-speed growth in the third quarter gave a much bigger boost to the company’s earnings performance than that recorded in the second quarter.. The cost of sales moderated at an increase of 36.6 per cent over the same period to N6.3 billion. The cost saving from input expenses jerked up gross profit by about 76 per cent to nearly N5 billion at the end of the Q3 2022. Administrative cost maintained its moderated mood at a year-on-year increase of 21.5 per cent to N2.4 billion and despite that other income continued declining, the company raised operating profit by 149.4 per cent to N2.8 billion at the end of the Q3 2022 operations. Finance income jumped close to three times to over N84 million during the review period while finance expenses

closed flat at N141.6 million, leading to a drop of over 48 per cent in net finance expenses to N57.4 million. The company closed the Q3 2022 operations with an accelerated growth of 171.4 per cent in pre-tax profit year-on-year to N2.7 billion against a 94.3 per cent increase at the half year. At N2.1 billion at the end of September 2022, after-tax profit rose by 190.6 per cent year-on-year. The company earned N1.29 per share at the end of the third quarter operations, improving from 44 kobo per share in the same period in 2021.

SOLID BALANCE SHEET NAHCO grew its total assets to N19.97billion as of September 30, 2022, representing an increase of 21.4per cent to N16.44billion in 2021. The breakdown of total assets showed a N11.77 billion total current assets as of September 30, 2022 from N8.49billion reported in 2021, while non-current assets increased by 3.09per cent to N9.2billion as of September 30, 2022 from N7.95billion reported in 2021. The group, thus announced N8.46billion total equity as of September 30, 2022 from N7.02billion in 2021 full financial year. In addition, total liabilities increased to N11.5billion in nine months of 2022, representing an increase of 22.17 per cent from N9.4billion in 2021.

EXPERTS PREDICT HIGHER INTEREST RATES IN 2023, 3.5% GDP GROWTH on the planned securitization of Ways & Means debt. Our view on high global interest rates suggests limited recourse to Eurobond markets. “After the bear market gloom

of 2022 driven by widespread hikes in interest rates across the world, financial markets will look for signs of the impact of these measures on economic activity. Meanwhile, commodity prices

are expected to moderate, with crude markets likely to grapple with excess supply as weak economic growth forecasts for major advanced economies will adversely impact crude consump-

tion. For Nigeria, whichever way the elections pan out, we think focus will quickly shift towards decisions on key economic issues: insecurity, foreign exchange policy and petrol subsidies which could

bring near-term inflation. Given Nigeria’s weak fiscal position, however, our base case scenario is for a partial adjustment to petrol pump prices in 2023 alongside further weakening of the official

exchange rate. In response to the elevated inflation levels, we expect monetary policy to remain tight, which alongside large government borrowings, speaks to a higher interest rate environment.”

HOW FG SPENT $14.37BN TO SERVICE WORLD BANK, OTHER DEBTS IN 8 YEARS that debt is at the highest level and is worrisome at 83 per cent debt service-to-revenue ratio. The Debt Management Office (DMO) had reported that if other sovereign debts, including the Ways and Means Finances, are fully captured, the debt stock could jump to N77 trillion. The Director-General of the Debt Management Office (DMO), Ms Patience Oniha recently in Lagos argued that debt service to revenue was extremely high, an indication that urgent steps needed to be taken to boost nation’s revenue and enhance public debt sustainability. According to her, “Nigeria’s public debt stock has grown consistently over the past decades and even faster in recent years. Consequently, debt service has continued to grow. Nigeria’s low revenue base compounded by dependence on crude oil resulted in budget deficits over the past decades. Efforts at increasing non-oil revenue are yielding positive results. “Dependence on borrowing and low revenue base are now threaten-

ing debt sustainability. With a low debt to GDP ratio, Nigeria’s debt service to revenue ratio would have been low if revenue was strong,” Oniha said. She added that most countries around the world have placed more emphasis on taxation as a principal source of funding for the government while reverse is the case in Nigeria. Speaking at the last Monetary Policy Meeting (MPC), the governor of CBN, Mr. Godwin Emefiele in his personal statement said, the domestic shocks originate from the persisting insecurity inhibiting economic agents; rising cost of debt and debt servicing; deteriorating fiscal balances; increased spending as the 2023 general elections approach; and continued uptrend in inflationary pressure. On his part, the Director, Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf explained that the capacity to service the current stock of debt raises serious sustainability concerns. According to him, “For instance, the debt service provision in the

2023 budget was a whooping N6.3 trillion, which includes the N1.2 trillion interest payment on Ways and Means financing by CBN. The debt service is also 60 per cent of projected revenue 29per cent of projected total expenditure. “Meanwhile, the actual revenue has historically been less than budgeted revenue. This implies that the debt service to actual revenue ratio would be much higher by the end of the fiscal year. The debt situation does not reflect a healthy fiscal position and should be a cause for concern. With the weak revenue performance and the growing recurrent expenditure, the capacity to fund capital projects has become severely constrained. “The opportunity costs of high debt service for the economy and citizens are very high as the economy is denied desired funding for critical social and economic infrastructure projects which are needed to build a globally competitive economy and advance the welfare of citizens. There is also the crowding effect of

the private sector in the domestic credit market. The government plans to borrow N7 trillion from domestic financial markets in 2023 to fund its fiscal deficit. There is also the exchange rate risk inherent in the exposure to mounting foreign debt which we need to worry about. As the currency depreciates, the burden of servicing foreign debts would intensify, especially when productivity in the economy remains low. Government debt management strategy has been recently reviewed to reduce the foreign component of the debt stock and also further reduce exposure to commercial debts. It was a move in the right direction. Commercial debts are the costliest components of external debt, and the Euro bond is one of such debts. The less commercial debts we incur, the better for debt sustainability. Concessionary debts are generally much better. “These are debts from multilateral institutions such as the African Development Bank, the World Bank, IMF, and Bilateral

debts. Their interests’ rates are extremely low, and their tenure are quite long. Most often, these concessionary debts are specific to projects, which reduces the risk of inappropriate public expenditure. This Fiscal Responsibility Act underscores this position. All these underline the imperative of reforms to reduce recurrent expenditure, especially the cost of governance. It is critical as well to ensure right policy choices to attract equity domestic and foreign private sector capital for economic and social infrastructure financing.” He noted that reducing the burden of debt and the risk of a debt trap also demands appropriate polices to incentivize private investments. He added, “Investment growth would boost economic growth, enhance the growth of revenue, and reduce the prospects of fiscal deficit and consequent borrowing. Creating an enabling environment for private investment is therefore very critical to reducing the burden of public debt.

“Economic reforms are imperative to ease the fiscal burden of government in the provision of infrastructure. Bankable infrastructure projects should be identified for private sector investment. but this should come with the right incentives, especially around the minimization of risk exposure by the private sector. “Quality of government spending and right expenditure priorities are crucial for the attainment of fiscal sustainability by the government. There is need to address corruption risks in government projects and general government expenditure as well.” Analysts at Afrinvest in a latest report said, “Equally worrisome, the debt-service-to-revenue ratio, a measure of liquidity remains disproportionately high at 83 per cent as of Q3:2022. Sadly, economic sabotage has robbed Nigeria of the windfall gains from the oil price rally in 2022. Based on our estimate, the debt service-to-revenue ratio could touch 91.8per cent by year-end.”

MONDAY, JANUARY 16, 2023 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Adigwu: Foreign Contractors are Encroaching into Private Security Business in Nigeria National President Association of Licensed Private Security Practitioners of Nigeria, Chris Adigwu, speaks on issues affecting the body. Olawale Ajimotokan reports Having emerged as the national president of this association, what are your plans towards moving it forward from where you met it? irst and foremost, my number one priority is to review our constitution and I have just inaugurated the constitution review committee. This is because there are a lot of lacunas. This is what binds us together. We are not seeking for a perfect constitution, but trying to have something that is workable. Because in the last administration, we had a lot of issues concerning the constitutional roles between members. So, during the last AGM, I was given the mandate to set up the constitution review committee. The committee has started work and hopefully by the end of March, we should have a draft of the constitution.

minimum wage of nothing less than N40, 000 for anyone offering guard services across the country, whether it is in Gombe, Akwa Ibom or in Sokoto states. That is what we tidying up and as soon as soon as we are through, we will ensure it is implemented. This is because the cost of living is increasing.

How would you ensure that intelligence is shared among your members for adequate security in the country? Like I mentioned earlier, we engage over four million guards across the 774 local governments in Nigeria and we are virtually in every home in this country. So, when we talk about information gathering, we are the best in this area, and we can support the state actors in the area of intelligence gathering. I believe we will work more deeply in my administration. In addition, we are doing so much as regards training. One of my main focus is on standardisation of the industry and that is why we are working vigorously to ensure the accreditation of training centers across the country for members of the association. And on the part of the guards, we are working out a training curriculum so that we can professionalise the guard companies. We are also going to introduce guard licensing, so that every guard will be licensed with a unique number.

How do you relate with your regulators and other members of the association? Well, like you know, we are being regulated by the Federal Ministry of Interior and directly by the Nigeria Security and Civil Defense Corps (NSCDC) and we have a cordial relationship with them, even as we intend to deepen the relationship. We have been working together and making sure we comply with what we are licensed to do. And we are hoping that the relationship will be better, because where we are now is not where we are supposed to be. That is why we are determined to drive the association to where it should be, so that our relevance will be better known in the security architecture of the country. How do you checkmate quackery in the industry? Well, in some of the state chapters, such as Abuja, Lagos and others, including in south-east states, we have a joint taskforce with the corps, and periodically we move around checking the unlicensed guards, because they are so many. We, however, have the challenge of foreign contractors who have been operating, but I assure you that it will not be easy for this time around. I believe that with the synergy we are working with the NSCDC, it is either they regularize their business or they find their way out of the business. This is because the foreign contractors are encroaching into our business. We also have other people who are encroaching into our business, such as the vigilantes. You see, our members are well

What are your major challenges as an association? Oh, we have challenges such as the issues of compliances and multiple taxations, especially from the Federal Inland Revenue Service (FIRS). This is because we are supposed to have a customized taxation system which will keep our members in business. And that is why we are seeking for a review of the method for taxing the private security guard companies to enable us stay in business.

Adigwu profiled before they were licensed and we pay for our renewal fees and we are regulated by the government. So, the government should empower us to do our work, rather than allowing other groups to encroach into our business. Welfare package for staff of private guard companies in Nigeria has been

a very big issue. How do you intend to improve better working conditions for staff of private guard companies? Yes, it is an issue that has been on our front burner, because there should be a minimum salary payment for staff of private guard companies. We know that if our guards are well paid, they will also do their work well. So, we are proposing a

The general election is fast approaching. What is your advice to your members in ensuring a successful election? My advice is that our members should not compromise in their duties, because ours is to ensure security and we are everywhere and as they say, ‘security is everybody’s business’, but security is our main business. So, our members should ensure adequate security by giving information to the state actors, like our regulator, the police or any of the agencies.

NECA Recommends Policy Options for Nigeria’s Economic Growth Dike Onwuamaeze The Nigeria Employers’ Consultative Association (NECA) has recommended economic policy options that would restore the tottering Nigerian economy on the path of stable growth. These options included a stable and highly predictable revenue streams, growthfocused monetary and fiscal policies, a secure and business-friendly environment and a legal, regulatory and legislative system amongst

others. It also noted that now was the ripe moment for Nigeria to launch a major paradigm shift in its economic philosophy in order to be in a position to contain the adverse impact of the projected global economic recession in 2023, adding that there is need to design a long-term funding mechanism for tertiary education rather than the call for the increase of TETFUND from the current 2.5 per cent to 10 per cent.

The NECA said yesterday in a statement titled, “Returning the Economy to the Path of Growth,” that these options were required in the face of dwindling revenue and myriads of economic challenges stalking the country and the seeming confusion on how to arrest the economy’s slide into deeper challenges. The Director General of NECA, Mr. Adewale-Smart Oyerinde, stated that to, “return the economy to the path of sustainable

growth demands that certain fundamentals must be gotten right. Without these fundamentals, the economy will continue in circles. “Among these fundamentals are a stable and highly predictable revenue streams, growthfocused monetary and fiscal policies, a secure and business-friendly environment and a legal, regulatory and legislative system that promotes equity, justice and enables enterprise competitiveness. These

fundamentals are currently either lacking or are highly compromised.” Oyerinde also averred that most economic indicators paint a picture of doomed economy. He said: “At the last count, the nation is neckdeep in debts hovering around N44.06 trillion in September 2022. However, if the N23.7 trillion CBN loan is securitised, our debt stock could amount to about N77 trillion in June 2023; crude oil production grew in the

month of December, 2022 by 4.2 percent month-on-month to 1.23 million barrel per day, but remained significantly short of the 1.8 million barrel per day allocated by OPEC to the nation, amounting to about $2.5 billion loss monthly at an average of $100 per barrel; oil theft seems to continue unabated and the unsustainable subsidy on petroleum products have all conspired to reduce government’s revenue, leading to absurd debt accumulation.”

Spain to Maximize Agric, Mining Potentials in Nasarawa Igbawase Ukumba in Lafia A delegation of traders from Spain is billed to visit Nasarawa State this year in order to maximize opportunities in agriculture and mining potentials which the state has comparative

advantage. The Spanish Ambassador to Nigeria, Juan Sell, disclosed this yesterday when he met with the Senior Special Assistant (SSA) to Governor Abdullahi Sule on Abuja Liaison Office, Yusuf Jibrin Maianguwa, in Abuja.

The ambassador said the traders from Spain were moved by the huge successes recorded during the just concluded Nasarawa First Investment Summit held in Lafia, hence they want to maximize the opportunities offered by the summit.

Juan, who described the summit as rewarding, equally expressed delight with the rich contents of Nasarawa Economic development Strategy (NEDS) document, stating that it would further give him the clear insight of the state for positive partnership.

He commended the Nasarawa State Liaison Officer for his commitment, resilient and humility in promoting the good policies and programmes of Governor Abdullahi Sule, hitherto urging him to sustain the spirit. Earlier, the SSA to Gover-

nor Sule on Abuja Liaison when presenting the NEDS document to the Spanish Ambassador, appealed to him to support the state governor’s unwavering commitment in making Nasarawa State among the three fastest growing economy in Nigeria.

MONDAY JANUARY 16, 2023 • T H I S D AY

T H I S D AY ˾ AY, JANUARY 16, 2023

FOREIGN DESK

BAYO AKINLOYE

Peru Declares State of Emergency in Lima over Protests Peru’s government late Saturday declared a state of emergency in the capital Lima and three other regions due to protests against President Dina Boluarte that have claimed at least 42 lives in recent weeks. The measure, in force for 30 days, authorizes the army to intervene to maintain order and suspends several constitutional rights, such as freedom of movement and assembly, according to a decree published in the official gazette. Supporters of ousted president Pedro Castillo have marched and barricaded streets across the South American country since December, demanding new elections and the removal of Boluarte. On Friday night, she refused to step down, saying in a televised address: “My commitment is with Peru.” The state of emergency covers Lima, the regions of Cusco and Puno, and the port of Callao, adjacent to the capital. More than 100 protest roadblocks across Peru on Saturday, mainly in the south, which has been the epicentre of the unrest, and also around Lima. The airport in Cusco, the gateway to the famed Machu Picchu site in southern Peru, reopened Saturday after being shuttered over a flare-up in the protests...

At Least 68 Killed in Nepal’s Worst Air Crash in 30 Years

At least 68 people were killed on Sunday when a domestic flight crashed in Pokhara in Nepal, the country’s Civil Aviation Authority said, in the worst air crash in three decades in the small Himalayan nation. Hundreds of rescue workers were scouring the hillside where the Yeti Airlines flight, carrying 72 people from the capital Kathmandu, went down. Local TV showed rescue workers scrambling around broken sections of the aircraft. Some ground near the crash site was scorched, with licks of flames visible. The crash is Nepal’s deadliest since 1992, the Aviation Safety Network database showed, when a Pakistan International Airlines Airbus A300 crashed into a hillside upon approaching Kathmandu, killing all 167 people on board. The plane made contact with the airport from Seti Gorge at 10:50 a.m. (0505 GMT), the aviation authority said in its statement. “Then it crashed.” Police official Ajay K.C. said rescue workers were having difficulty reaching the site in a gorge between two hills near the tourist town’s airport. Khum Bahadur Chhetri said he watched from the roof of his house as the flight approached. The government has set up a panel to investigate the cause of the crash, and it is expected to report within 45 days, the finance minister, Bishnu Paudel, told reporters...

South Korean President Travels to UAE, Seeks Arms Sales

South Korean President Yoon Suk Yeol received an honour guard welcome Sunday on a trip to the United Arab Emirates as he hopes to expand his country’s military sales here. Yoon’s visit comes as South Korea conducts business deals worth billions of dollars and stations special forces troops to defend the UAE, an arrangement that drew criticism under his liberal predecessor. However, the conservative leader now wants to double down on those military links even as tensions with neighbouring Iran have already seen Tehran seize a South Korean oil tanker in 2021. Yoon arrived at Qasr Al Watan palace in Abu Dhabi on Sunday. He was greeted by Emirati leader Sheikh Mohammed bin Zayed Al Nahyan, who took office in May after serving as the country’s de facto ruler for years..

Church Bomb Kills 6, Extremists Suspected, Congo’s Army Says

According to the country’s army, a suspected

extremist attack at a church in eastern Congo killed at least 10 people and wounded more

than three dozen. A group linked to Islamic extremists was suspected of being responsible for

a bomb that went off in the Pentecostal church in the North Kivu province town of Kasindi, military spokesperson Anthony Mwalushayi told The Associated Press by phone.

A Kenyan national found at the scene was detained, Mwalushayi said.

Congo’s government urged people to avoid crowds and be vigilant as it conducted an investigation, said the minister of communication in a tweet. Videos and photos of the attack seen by the AP showed dead bodies lying on the ground outside the church, including what appeared to be a dead child. The injured were being carried out of the church, surrounded by other people screaming. Violence has wracked eastern Congo for decades as more than 120 armed groups and self-defence militias fight for land and power. According to the UN, nearly six million people are internally displaced, and hundreds of thousands are facing extreme food insecurity.

Al-Shabab Attacks Key Towns in Somalia, Killing 15 People

At least 15 people were killed and more than 50 injured in three bombings Saturday in the central Hirshabelle state of Somalia, according to officials. In Bulobarde town, some 220km north of Mogadishu, a suicide car bomb has killed at least 11 people, witnesses and medical officials said. A suicide bomber driving an SUV vehicle laden with explosives came under fire from security forces before reaching his goal but detonated explosives near a police station and the base of the African Union peacekeepers from Djibouti, multiple witnesses told Voice of America. “At least 11 people were killed in the blast and more than 50 injured — 30 of them in critical condition,” Yusuf Isaq Mumin, a medical official in the town, told VOA. Meanwhile, a powerful car bomb exploded near a Somali military checkpoint in Jalalaqsi town, some 160km north of Mogadishu, when soldiers operating the checkpoint intercepted an explosives-laden vehicle. Another one went off almost simultaneously nearby when security officials shot the vehicle’s driver. According to witnesses, the checkpoint is near local government buildings and a military base belonging to African Union peacekeepers from Djibouti. Both the towns of Jalalaqsi and Bulobarde are important trading and farming towns located along the banks of the Shabelle River, and they also are the second- and third-biggest towns in Hiran province.

Pakistan Launches Anti-Polio Drive Targeting 44m Children

Pakistan launched its first anti-polio campaign of the year Sunday, targeting 44.2 million

children under five. Pakistan and Afghanistan are the only countries in the world where polio

threatens children’s health and well-being. Polio affects the nervous system of children and ultimately leads to paralysis. Prime Minister Shahbaz Sharif kicked off the nationwide drive by administering polio drops to children in the capital, Islamabad, saying Pakistan was, unfortunately, among the few countries that still suffered from the disease. Twenty cases were reported in the tribal North Waziristan area last year, though Sharif said the disease was contained among other children through immunization. Around 44 million children in 156 districts will be immunized. This includes 22.54 million children in Punjab, 10.1 million in Sindh and 7.4 million in the Khyber Pakhtunkhwa provinces. Sharif said his government and other stakeholders, including US billionaire Bill Gates and the World Health Organisation, effectively contributed to polio eradication in Pakistan. Pakistan has witnessed frequent attacks on polio teams and police officers deployed to protect them. Militants falsely claim that vaccination campaigns are a Western conspiracy to sterilize children.

Zadran, said that a brother of the slain parliamentarian was also injured in the attack, which took place early Sunday. Zadran said a “serious” investigation into the incident was underway to apprehend and bring the killers to justice. Nabizada’s relatives called on the Taliban administration to arrest the killers, saying she had no enemies. “I heard the gunfire, and when we went down, they (attackers) had left, and my daughter was lying on the ground with blood on the bed alongside my son. The guard was also killed,” local TOLO TV channel quoted Nabizada’s mother as saying. Nabizada’s assassination marks the first time a politician from the ousted government has been killed since the Taliban takeover in August 2021. She was among the few female politicians and civil society activists who decided against fleeing Afghanistan after the hardline group regained control of the country. No group immediately claimed responsibility.

Global Leaders Will Tackle Multiple Crises at World Economic Forum

More than 2700 world leaders will seek solutions for multiple global crises when they convene at the World Economic Forum’s annual meeting in the posh Swiss Alpine village of Davos this week. This auspicious gathering includes 52 heads of state, business, finance, and culture leaders, humanitarians and members of civil society from 130 countries. More than 5,000 Swiss army soldiers will be on hand to guarantee security and ensure protests do not get out of hand. The theme of this year’s meeting is cooperation in a fragmented world. After emerging from three years of pandemic isolation, delegates will meet again in person. During the week, they will address critical political, economic, and social issues that demand urgent attention. Klaus Schwab, founder and executive chairman of the World Economic Forum, says this personal interaction will create the necessary level of trust to bring people together. A high-level delegation from Ukraine is expected to come to Davos. Forum officials say their names are not being disclosed for security reasons. They say several sessions related to the war in Ukraine will be held. They add Russia is not expected to attend.

.25

Dead, 73 Wounded in Dnipro UFO Reports in US Rise to 510 After Russian Missile Strike The US has now collected 510 reports The death toll from a Russian missile strike on a nine-story apartment building in the southeastern Ukrainian city of Dnipro rose to 25 on Sunday, Ukrainian President Volodymyr Zelensky reported, even as rescue workers attempted to pull more survivors from the wreckage. Workers used a crane to reach people trapped on the top floors of the 1,700-resident building, some of whom signalled for help with lights on their cell phones. “Search and rescue operations and the dismantling of dangerous structural elements continue. Around the clock. We continue to fight for every life,” the Ukrainian leader said. Zelensky said 73 people were wounded in the attack Saturday, and 39 had been rescued as of Sunday afternoon..

Gunmen Assassinate Female Former Afghan Lawmaker Taliban authorities in Afghanistan said Sunday unknown assailants shot a former female lawmaker dead alongside her bodyguard in her home in the capital, Kabul. Mursal Nabizada, 32, had been elected as a member of the national parliament before the Islamist Taliban seized power from the internationally backed Afghan government in August 2021 as all US-led NATO troops withdrew. A Kabul police spokesman, Khalid

of unidentified flying objects, many of which are flying in sensitive military airspace. While there’s no evidence of extraterrestrials, they still pose a threat, the government said in a declassified report summary released Thursday. Last year the Pentagon opened an office, the All-domain Anomaly Resolution Office, solely focused on receiving and analyzing all of those reports of unidentified phenomena, many of which have been reported by military pilots. It works with intelligence agencies to further assess those incidents. The events “continue to occur in restricted or sensitive airspace, highlighting possible concerns for the safety of flight or adversary collection activity,” the Office of the Director of National Intelligence said in its 2022 report. The classified version of the report addresses how many of those objects were found near locations where nuclear power plants operate or nuclear weapons are stored. The 510 objects include 144 objects previously reported and 366 new reports. The report said in both the old and new cases, after analysis, the majority have been determined to exhibit “unremarkable

characteristics” and could be characterised as unmanned aircraft systems or balloonlike objects.

T H I S D AY ˾ MONDAY, JANUARY 16, 2023

HOMES&DESIGN

AFRICAN CONTINENTAL BANK TOWER:

Enugu’s Enduring, Untainted Highrise Enugu is a serene city with beautiful landscape dotted with natural and manmade landmarks. An easy-to-spot facility is the African Continental Bank (ACB) tower. Bennett Oghifo writes

he ACB tower is a six-storey building strategically located on the high-profile Ogui Road, and at the time it was built, it was the tallest building in the Central Business District in Enugu. It was constructed in the late 1950s for African Continental Bank Limited, a financial institution established by Dr Nnamdi Azikiwe (Nigeria’s first president). According to existing records, the tower was

inaugurated on April 30, 1959. Enugu is the capital city of Enugu State in Nigeria. It is located in the southeastern part of Nigeria. The city had a population of 820,000, according to the 2022 Nigerian census. The name Enugu is derived from the two Igbo words Énú Ugwu, meaning ‘hill top’, denoting the city’s hilly geography. Since the 17th century, present-day Enugu has been inhabited by the

Enugwu-Ngwo and Nike. In 1900, the Southern Nigeria Protectorate was established by the colonial administration of the British Empire. The discovery of coal by the colonists led to the creation of what was then known as the Enugu Coal Camp, named after the nearby village of Enugu Ngwo, under which coal was first found. The nearby city of Port Harcourt was created to ship this coal abroad,

located 243km (151 mi) south of the camp. Coal mining opportunities in Enugu attracted people from throughout the region; this marked the core of the first urban settlement of what is today known as simply Enugu. Enugu developed as one of the few cities in West Africa created entirely by European contact. By 1958 Enugu had over 8,000 coal miners. As of 2005, no significant coal mining activities are left in the city.

MONDAY, JANUARY 16, 2023 ˾ T H I S D AY

BUSINESSSPECIAL Path to Economic Recovery

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

Policy makers in Nigeria must take active steps to multiply the country’s productive output in order to engender sustainable growth, writes Obinna Chima

Broad Street, Lagos.

he outlook for Nigeria in 2023, just like most economies across the globe, is fraught with uncertainty. From elevated inflation, higher interest rates, reduced investment, and disruptions caused by the Russia-Ukraine War, are expected to shape the global economy this year, which obviously have trickle-down effects on Nigeria. Within this context, multilateral institutions such as the World Bank and the International Monetary Fund (IMF) have slashed the country’s growth prospect for this year. Indeed, Nigeria is faced with multi-faceted challenges, ranging from rising fuel subsidy payments, subdued economic growth, widening inequality among others, coupled with the general election that is around the corner, the path to economic recovery demands strategic initiatives and innovative approaches. With economic growth projection for the country still around three per cent, which is lower than the country’s population growth, analysts have stressed the need for policy makers in the country as well as whoever emerges as the country’s president next month to embrace policies that can provide solid foundation for long-term growth and job creation. To stimulate growth, the Nigeria Employers’ Consultative Association (NECA) has recommended economic policy options that would restore the tottering Nigerian economy. These options included a stable and highly predictable revenue streams, growth-focused monetary and fiscal policies, a secure and business-friendly environment and a legal, regulatory and legislative system amongst others. It also urged the federal government to launch a major paradigm shift in its economic philosophy in order to be in a position to contain the adverse impact of the projected global economic recession in 2023. The Director General of NECA, Mr. Adewale-Smart Oyerinde, noted that returning the economy to the path of sustainable growth demands that certain fundamentals must be gotten right. “Among these fundamentals are a stable and highly predictable revenue streams, growth-focused monetary and fiscal policies, a secure and businessfriendly environment and a legal, regulatory and legislative system that promotes equity, justice and enables enterprise competitiveness. These fundamentals are currently either lacking or are highly compromised,” he said. Oyerinde also averred that most economic indicators paint a picture of doomed economy. According to him, “At the last count, the nation is neck-deep in debts hovering around N44.06 trillion in September 2022. However, if the N23.7 trillion Central Bank of Nigeria (CBN) loan is securitised, our debt stock could amount to about N77 trillion in June 2023.

“Crude oil production grew in the month of December, 2022 by 4.2 percent month-on-month to 1.23 million barrel per day, but remained significantly short of the 1.8 million barrel per day allocated by the Organization of Petroleum Exporting Countries (OPEC) to the nation, amounting to about $2.5 billion loss monthly, at an average of $100 per barrel. Oil theft seems to continue unabated and the unsustainable subsidy on petrol have all conspired to reduce government’s revenue, leading to absurd debt accumulation.” The director general of NECA noted that the obvious misalignments between the fiscal and monetary policies had deflated investors’ confidence and made the country unattractive for Foreign Direct Investment (FDI), in spite of its large market, and has also rendered all growth projections mere academic exercise. He, therefore, expressed the need for the government, especially the incoming one, to demonstrate political will by implementing policies that will drive the economy back on growth trajectory. According to Oyerinde, “deliberate efforts must be made to reverse some of the current policies and implement new ones. All leakages associated with government revenue must be blocked (oil theft, skewed concessions, fuel subsidy e.t.c.), while a wholesome review of the tax administration to make it more equitable and investor-friendly should be initiated.” He said that government at all level could not continue to over-tax its businesses and citizens while other climes are either reducing tax rates in order to attract investors and enhance economic activities and promote sustainable consumption. “As the nation nears the mark of N77 trillion debts with negligible impact on infrastructural development, the incoming government must develop strategies to diversify the revenue base through the revival of the country’s lagging non-oil sectors. “The fable about debt to Gross Domestic Product (GDP) ratio can no longer hold as the government in the 2023 budget has also surpassed the 3.0 per cent debt to GDP ratio stipulated in the Fiscal Responsibility Act,” Oyerinde argued. He said that over the last decade, the country has spent over N10 trillion on fuel subsidy, about N15.5 trillion on capital expenditure, N2.5 trillion on health and about N3.9 trillion on education. This, according to him, was a misplacement of priority and showed that critical developmental items such as education, health and infrastructure have suffered due to crass misplacement of the nation’s economic priorities.

On its part, the Lagos Chamber of Commerce and Industry (LCCI) called on the federal government to remain focused on tackling Nigeria’s many economic issues even as the country approaches the general election in February. President of the LCCI, Dr. Michael OlawaleCole, also appealed to Nigerians to get involved in the electioneering processes and use their power of numbers to sustain the Nigerian democracy. According to him, this year’s election would be critical to the survival of the nation, “and we know that every democratic nation determines its leaders by decision of the citizens who vote.” Olawale-Cole also commended the government’s plans to end the payment of petrol subsidy as the best economic decision that would reduce the country’s unsustainable public debts. He, however, urged government to roll out cushioning policies before the possible removal later in the year to mitigate the short term inflationary pressures expected to accompany the removal. In his contribution, the immediate past Chairman of the Nigerian Economic Summit Group (NESG), Mr. Asue Ighodalo, tasked those entrusted with drafting the Nigeria Agenda 2050 to bequeath the country with an economy whose size is somewhere between $4.5 trillion and $9 trillion in the next 25 years in order for the country to have shared prosperity. Ighodalo also urged them to come out with an agenda that would grow the country’s GDP at the rate of 15 per cent annually. He said: “We absolutely must think through and articulate areas where each of our six geopolitical zones can be leading or significant global players in the world economy of 2050. The drafters of our National Agenda 2050 have their work cut out. “The Nigeria Agenda 2050, currently being drafted, proposes a time frame of about 25 years. This means we must recalibrate our visioning and work towards a specified target growth, by a specified date, benchmarking ourselves with the most prosperous countries in the world. “I propose that, our specified target must be turning Nigeria into the most prosperous black country in the world, with a GDP per capita that is at par with the OECD countries, by 2050.” Ighodalo stressed the need for policy makers to begin to think about economic development as clear objectively measurable goals. “We would need to build an economy that is 10 to 20 times the $440 billion economy we have today within 25 years. We must then set

ourselves a task of growing at over 15 per cent every year,” he added. According to him, successful nations’ turnarounds start first with addressing and fixing basic internal problems in order to set the country’s sights on externally-driven growth possibilities. He postulated that Nigeria should begin to appreciate the attainment of macroeconomic stability as the foundation of economic growth. He observed that Nigeria’s economic competitiveness is weak, stating that “we must take active steps to multiply our productive output, particularly in those areas that support foreign exchange earnings and enhance livelihoods. “We must effectively address all areas of waste, leakage, theft or graft. Gas flaring must stop. Only a nation that does not take itself seriously will cry out year after year for power, but continue to fritter away a resource that can deliver that power”, he noted. Ighodalo also tasked Nigerians on ingenious ways of fixing and strengthening national and sub-national institutions by paying particular attention to “our civil service and judiciary and changing the attitude and temperament of those of us who work in these institutions.” “We must also address the problem of unequal access to basic livelihood amenities like food, water, roads that foster micro activity and enable producers to get to markets, schools that deliver solid basic education without security concerns, and basic healthcare,” he added. He said that these policies must result in productive contribution and full economic participation by all Nigerian states, and all able-bodied Nigerians, towards a prosperous Nigerian state. Also, the Chief Consultant of B. Adedipe Associates Limited, Dr. Biodun Adedipe, predicted a positive GDP growth of more than 3.19 per cent in 2023 for the Nigerian economy due to projected expanded domestic production capacity in refined petroleum products, rice, consumable goods and automobiles. He also forecasted that inflation rate would moderate in 2023 at double digit rate of 18.2 per cent while “lending rate will remain double digit as it responds to the rate of inflation.” He added that improvements in infrastructure developments across the country as a result of the government’s targeted investments in rail, roads and aviation would begin to impact positively on the cost of doing business in the country this year. Indeed, success on the economic-recovery journey also demands that governments should address issue of lack of trust in their leadership in order to get the buy-in of the citizens. Strengthening the relationship between public and private sector is also important in the pathway to economic recovery as well as the drive for rapid recovery and sustained growth.

T H I S D AY ˾ MONDAY, JANUARY 16, 2023

BUSINESS SPECIAL

INTERVIEW

Adefeko: Trust is Vital for Business Survival, Growth

Lagos-based communication and media consultancy firm, AT3 Resources, last week marked its fifth anniversary of providing strategic public relations, events and media interventions to corporates, individuals and brands in Nigeria and across Africa. In this interview, the Chief Executive Officer and Founder, Mrs. Tosin Adefeko, speaks about the journey in the past five years and the plans for the company. Obinna Chima brings the excerpts: Tell us a little about your background and how the brand name AT3 Resources came about? y father was a banker – Dr. Femi Zakariya Adekanye, the founder of Commerce Bank Plc. He was a prominent man during his era. A past President of the Chartered Institute of Bankers, a teacher and an author. He wrote many banking books and every banker at some point studied with ‘The Elements of Banking’ which he wrote. My mother was also a banker with Union Bank for over 30 years. It seemed like a natural career for me since I come from a family of accomplished bankers, so I went into the banking industry at a young age too… but it didn’t take me too long to realise that path was not for me. I hopped from bank to bank in the hope of finding ‘uhuru’ and it just never happened. But I like to tell people that I learnt a lot from banking, my resilience and staying power, the ability to negotiate dispassionately, to serve, to initiate, build and sustain relationships; my business acumen, most of it I learnt from banking. They drill you to no end, very target driven environment, you snooze you lose, but to me, banking wasn’t what I wanted to do. I am very big on passion and doing what comes naturally to you. What would you do if no one was willing to pay you a dime? When people say ‘follow your passion,’ it should not be underestimated. In my banking days, once it’s time for MPR I had to go and sit with my bestie to explain exactly how those figures arrive at where they are. Figures just fly over my head. I only know how to count my money. Lol. Meanwhile, I was always the best at writing and speaking, I studied English and Literary Studies; even within the banks I worked every appraisal stated I was best at communicating. I wrote my university project on Advertising, the first place I went to look for work was at AIT. I lived in Lekki at the time and the trip to Alagbado was like going to the moon. I abandoned that and started work at an oil company in Victoria Island. That’s the only reason I didn’t become a journalist. This was before my banking career though. Anyway, when I turned 30, I had a light bulb moment and knew it was time to take a decision on my career. I didn’t want to wake up and be 40 in a life I hated. I was earning good money in banking and had risen through the ranks but I knew it was time to leave. So, why did I come into the marketing communications industry and how did AT3 come about? Like I said earlier, I had my natural inclinations, abilities and passion. Instead of leaving banking and forcing myself into the Media and Communications industry without any training, I took two years off work with my first son in tow and went to pursue a Master’s Degree in Marketing Communications. That was fifteen years ago, when I got back, I had a minor stint at GTB just to stay afloat financially since I was off work for a while and by now was completely broke. It was there that I met Prince Nduka Obaigbena. Prince Obaigbena was one of my major clients at the branch where I headed commercial banking at Guaranty Trust Bank, Ikoyi. Remember banking wasn’t the plan, so within a few months I just walked away. When I left GTBank, upon that I was the toughest on him when I was managing his accounts, Nduka started looking for me. I remember his phone call vividly – ‘Madam, I hear you left the bank? So, I basically told him not to worry about me that I am looking for a media job, serendipitously he had just set up Arise Magazine and he literally just said to me, come and work for me! He it was who got me into the media industry, because he gave me an opportunity to run Arise Magazine. I was the Business Manager of the Magazine and we had several meetings promoting the magazine home and abroad, but the magazine didn’t quite achieve the success the TV station now enjoys. After Arise Magazine, I moved to NN24 who were also just starting at the time and needed a marketing manager. NN24 was one of the most fantastic ideas of its time, but by my thinking it wasn’t run properly. Through this whole career navigation, I simply wanted to meet one man who was considered the

before you get and this was my own way of giving, time and expertise. At the point in which I joined the NESG, I actually told them that I have some free time and I requested to offer my time on planning their annual economic summits. The first year I was a member of the communications committee but subsequently I was asked to chair their communications committee at the COC and JPC level. I did that for three consecutive years but I have now become too busy I have had to drop some of these commitments. It is time to refocus my time; as an entrepreneur, at every point in time there are different challenges that require full attention. You don’t want to wake up one day and you can’t pay salaries or there is no business. I remember our third year, that was the year of COVID-19 in 2020. We had a lot of events that were cancelled and we stayed for six months without jobs. But as God will have it, it was during that same COVID-19 year that we got our first big break. We had just concluded a project for a family and a member of that family who happens to work at Facebook recommended us to his colleagues who were then looking for agencies in Nigeria to pitch for their account. Several pitches, evaluations, interactions after we were selected as META’s communications partner for Anglophone West Africa. This is our third year on the business but beyond the gains of working on such an interesting brand, our practise was opened up to a whole new world of opportunities that went beyond even our own imagination.

Adefeko most accomplished marketing practitioner, Dr. Biodun Shobanjo, the Chairman of Troyka Group. Whilst I was a student, I had encountered him once on a plane and thought I should try my luck, I shot my shot as they say …well that didn’t go too far. Lol. When I got a second chance, this time to interview with him I basically just genuinely shared my life’s ambition to be a comms practitioner because that’s all I knew how to do and he gave me the opportunity. That singular decision he made in his office that day changed my story. As you can imagine after all the years of toiling, trying to occupy a space in the world driven by purpose and passion I gave it my all. Even when cantankerous characters thought they could bring me down, I basically just focused on my focus… I had a specific goal, to learn, grow and contribute my quota. After five years with the Troyka Group, specifically as Chief Operating Officer of the Public Relations arm of the business, I decided to leave to set up AT3 Resources. This was a company I had registered many years prior but didn’t have the network and or experience to drive it; so to your question, the company name was derived from my children’s initials. When I found a compelling reason to revive the company, I just had this small dream to consult for any company, brand or individual that needed support with framing their communications interventions. Bear in mind now I had worked with so many brands especially global brands. Many years I led brand building initiatives for Coca-Cola, P & G, Etisalat, Google, Microsoft, Sanofi, GSK, Skye bank, British Airways, Ford and many brands too numerous to mention. But I saw the gaps with service, I saw gaps with the ability to tell clients what was possible and what was not, for many it’s always a game of profit, trust me I like money too but I detest profit at the expense of service and reputation and I wanted to fill that gap in the industry. So, I tell my

staff, we are never going to be everything to everyone, we must ensure we have common values, common goals before we take on a client. Because once we do, we must never fail them. It’s been a tough five years so if I must add no achievement would have been possible without the grace of God and the people that believed in us; when people ask me how we were able to do it, I tell them none of it would have been possible without people. What has been the journey in the past ﬁve years? Like I said earlier, we are a boutique communications agency. In the first five years, the strategy was deliberate, it had to be organic growth, regardless of whatever was happening around us, the plan was to grow organically. The vision was to become the reference point in strategic communications solutions and that could only be achieved with commitment and consistency in service. As we went along, we also continued to identify the pockets of needs and we started seeing that while we had our own plans, there was a bigger market to be served. In 2018, when I started AT3, I sent out three letters including one to a family friend who is a hotelier. Coincidentally one of his hotels was going through a management change at the time and we helped manage the announcement to prevent any brand attrition; we continued to serve various local brands on a project basis, we were signed up by Siemens as PR partner within our second year, even though that didn’t quite crystallise into much as they had some internal changes too; we continued to focus our efforts on the event side of the business, since project cycles were shorter and we had to stay afloat. I also started volunteering on platforms such as Women in Business (WIMBIZ) and the Nigerian Economic Summit Group (NESG). I always tell people that you have to give

How has it been managing people and what are the challenges you have face so far? Managing people is one of the most difficult tasks in the world. In this short five years I have encountered a wide variety of characters. Bottomline for me is, we are here to serve and if we have accepted a client’s work, we have made a promise so we must deliver on that promise, it must get done. Disappointing people is absolutely not in my character. If I foresee a commitment not happening due to circumstances beyond my control, I would tell you ahead, but not everyone has that spirit in them. At AT3 we encourage creativity, curiosity, integrity, service excellence and the ability to only say what you can do and never promise what you cannot deliver. I preach to my staff every day, if you do not have these traits, you are not an AT3 person. This is because the moment you begin to fail people, they lose trust in you, the moment they lose trust in you, your brand is dead. So, any day an employee breaks this promise, then we can no longer be friends. Our talents that understand this know they are in a good place to work. We motivate, we encourage, we train. so that there won’t be reasons to disappoint our clients. We all still grapple with a dearth of skill in the PR industry. So, I guess we need measures to upscale talent in the industry. This is also one of the reasons we are putting together a one-week boot camp to enhance skills and support SMEs. What is your client base? We work for a good mix of clients – they range from technology, to FMCGS, to banks and finance companies; we also help influential private clients manage their brands too, whilst also delivering top notch well curated special events. What is the plan for the next ﬁve years? We recently invested in our own premises, which is just not a building but a story in itself; in that building brands will be built and revived, perceptions will be built and shaped, special events will be curated and staged. Our opening event was a testament to what we intend to do with that space. It was a movie! We stayed quiet for all these years to build now we are ready to take on the world. There is power in connection and the world is moving into an age of endless connection and endless possibilities. Who else needs to be there to help you on that journey, than we that understand the power of the mind, the power of decisions, the power of urgency and the power to listen to what your audiences are saying? We are properly primed to support you in your quest to connect!

T H I S D AY ˾ DAY JANUARY 16, 2023

CITYSTRINGS

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

Saudi Arabia’s Lifeline to IDPs in Borno State

R-L: Governor of Borno State Prof Babagana Umara Zulum, Director General National Emergency Management Agency Mustapha Habib Ahmed and representative of King Samantha Humanitarian and Aid and Relief Centre Mr Al-Yousef Abdulkareem during the ﬂag oﬀ distribution of food items donated by Saudi Arabian Centre for Intrrnally Displaced Persons in Borno State

Stacks of the donations

Some of the beneﬁciaries of the largesse Manzo Ezekiel

erhaps one of the obvious effects of insurgency in the North East is the condition of the displaced persons that were forced out of their communities and scattered around; having lost their homes, livelihood and are living in various camps, host communities or with relations. At a point during the height of the security challenge in Borno State in particular, Maiduguri, the state capital and its environs had over seven mega camps with each having number of IDPs greater than population of some towns in Nigeria. The Federal and Borno State Governments have been caring for the IDPs with supports from concerned local and international partners. Some of the concerned partners included the United Nations systems in Nigeria, Faith Based Organizations (FBOs), local and international Non-Governmental Organizations, etc. Borno State has been a centre of attention for humanitarian activities and hub where international and local supports are being mobilized and deployed to provide succor for the IDPs. From onset of the humanitarian situation, the Federal Government through the National Emergency Management Agency (NEMA) has been very supportive in complementing the efforts of the Borno State Government in the camp management and deployment of essential supplies including food to the IDPs. Nevertheless, some of the camps were mostly catered for by the local and international supports. The steady restoration of security and consequent closure of most official camps in Maiduguri by the Borno State Government under the Governor, Professor Babagana Umara Zulum has led to resettlement of many displaced persons back to their liberated communities. However, there still exist some unofficial camps and host communities around Maiduguri with IDPs. Recently, NEMAwas at some of these locations and distributed food items donated

Tent to tent distribution of the food items by NEMA staﬀ by King Salman Humanitarian Aid and Relief Centre (KSrelief), a humanitarian agency of the Kingdom of Saudi Arabia. Atotal of 16,000 IDPs households (about 96,000 persons) benefitted from the gesture which was a lifeline from the Kingdom of Saudi Arabia to the displaced Nigerians. At the flag off distribution of the food items, Borno State Governor, Professor Zulum appreciated the

kind gesture from the King Salman bin Abdulaziz Al Saud, the Government and people of the Kingdom of Saudi Arabia for their concern and generosity towards the plights of the distressed Nigerian affected by insurgency, particularly in the state. While noting that KSrelief was the first and only aid agency from the Arab world to have come with food aid, he said the donation was timely especially for the selected camps that have not been receiving adequate food supplies. He then, assured commitment of

The gesture was part of its international project to deliver food assistance to those in need around the world...the food aid was an extension of relief and humanitarian eﬀorts provided by the government of the Kingdom of Saudi Arabia

the Borno State to partner NEMA towards ensuring equitable distribution of the items across the camps and host communities. In same vein, Director General NEMA Mustapha Habib Ahmed described the donation as a gesture that attests to the benevolence of the government and the people of the Kingdom of Saudi Arabia as real friends and brothers of Nigeria. NEMA’s partnership with the KSrelief dates back to 2018. Between 2018 and 2021, the centre donated relief items in form of food baskets to IDPs in Borno, Yobe and Zamfara States. The impact of these interventions have no doubt saved lives and given hope to the beneficiaries as evident in the positive testimonies of the people. For the recent donation, the centre donated 16,000 food baskets that catered for 16,000 households in Borno state, with the distribution carried out in two cycles. Each household received a total of 59.8kilogram basket of food comprising of 25kg of rice; 25kg of beans; 4kg of Masa Vita flour; 2kg of tomato paste; 2litres of groundnut oil; 1kg of salt and 0.8kg of maggi cubes. The direct distribution of the items was done by NEMA in collaboration with Borno SEMA in identified camps located at El-Miskin, Doro, Asheri, Shuwari, Nganzai, Muna Kumburi, Gongulon and Madinatu areas within Maiduguri and environs. Supervisor General of KSrelief Dr Abdullah Alrabiah who represented by Al-Yousef AbdulKarim in monitoring of relief distribution explained that the gesture was part of its international project to deliver food assistance to those in need around the world. He said that the food aid was an extension of relief and humanitarian efforts provided by the government of the Kingdom of Saudi Arabia. Every support rendered to IDPs or Nigerians in distressed is much appreciated by the Government and the people. - Ezekiel works with the National Emergency Management Agency (NEMA), headquarters in Abuja.

MONDAY JANUARY 16, 2023 • T H I S D AY

T H I S D AY ˾ AY, JANUARY 16, 2023

BUSINESS/MONEYGUIDE

BoI Clarifies Disbursement of Grants Under NG-CARES Programme Nume Ekeghe The Bank of Industry (BOI) has clarified the implementation and disbursements grants under the NG-CARES programme following questions raised by some stakeholders. NG-CARES is an initiative of the World Bank and the Federal Government of Nigeria (FGN)to support the recovery of communities, households, and businesses affected by COVID-19. The programme is State-owned, as State governments are fully responsible for funding and selection of beneficiaries. According to a statement from the bank, the funding arrangement allows each state the autonomy to determine their preferred grant sizes and number of grants across different programme components as approved by the World Bank. It said, “Based on the Bank of Industry’s successful track record

of building field networks and technology infrastructure for the transparent implementation of MSME intervention programmes, the World Bank nominated the Bank to provide this infrastructure for the delivery of the MSME Component of NG-CARES (RA3) nationwide. “Following this nomination, 28 out of 33 States chose BOI as their preferred execution partner to leverage the Bank’s MSME infrastructure to deliver NG-CARES. “Under this partnership, the States are solely responsible for nominating the beneficiaries and selecting those grants are to be disbursed to, following successful verification. BOI’s role as execution partner is to manage the end-to-end application and verification processes, and present successful candidates to enable States’ decision-making for disbursements. BOI disburses

as instructed by the State.” So far, BOI has received over one million applications for the NG-CARES MSME grants across states. But he bank explained that, “While several beneficiaries may apply or be nominated, beneficiaries do not receive the grant if they do not meet the criteria to qualify, or if their states do not select them for disbursement as the states seeks to manage the funding available for the programme and ensure the equitable distribution of benefits across business categories, Local Government Areas, gender or other demographics.” BoI advised that further enquiries on the eligibility requirements, implementation status, and other programme information can be made through the NG-CARES Federal CARES Support Unit, State delivery agencies, or the official programme website.

N wa c h u k w u A p p o i n t e d R oya l Exchange General Insurance MD Ebere Nwoji The board of Royal Exchange General Isurance Limited (REGIG) has appointed Ebelechukwu Nwachukwu as the Managing Director of the company. The Chairman REGIG, Ike Chioke who announced this at a press briefing in Lagos said that the task before the new Managing Director of the company is to ensure that in the next three to five years, the company stands out as one of the top three insurance firms in Nigeria. Chioke, said Nwachukwu who replaced the outgoing Managing Director Mr. Benjamin Agili has already been confirmed by the insurance industry regulator National Insurance Commission (NAICOM). The REGIG chairman, believes that Nwachukwu, with her extensive experience and knowledge of the insurance industry would seek to drive the continuous growth and profit-

ability of the company and make the company a market leader in general insurance business in Nigeria. According to him,Nwachukwu brings close to three decades of versatile and trusted experience to Royal Exchange General Insurance, with a track record of excellence and performance, having previously led two insurance companies in Nigeria, and expressed confidence in her ability to take the company to even greater heights. Speaking further, Chioke said, the REGIG new helmsman is expected to focus on the firm’s transformation agenda as the firm seeks to diversify its business lines and focus on the retail insurance space. “Royal Exchange General Insurance has a vision to attain and maintain market leadership in terms of profitability and excellent service. For us at the board, we see Ebele as someone who can drive this vision, as we seek to be a top three general

insurance firm in Nigeria. This is the goal and expectation of the investors and the Board, within the next 3-5 years,” he stated. He thanked the outgoing Managing Director Mr. Benjamin Agili for his meritorious service to the Company, adding that he would always be remembered for his leadership, service, dedication, and strong commitment to the company. “Under his watch, the company has grown to be major player in the general insurance space in Nigeria and the board thanks Agili for his services”. In her response, Nwachukwu expressed her readiness to work with the team to reposition the company to an enviable state. She expressed delight at the confidence reposed on her by the company’s board and promised not to let the members down. “My focus would be transforming the retail space to promote financial inclusion and build a formidable customer base, “she said.

Sahara Foundation Partners LSETF, Wecyclers to Promote Environmental Sustainability Nume Ekeghe Sahara Foundation and Lagos State Employment Trust Fund (LSETF) have announced their strategic partnership geared towards rolling out a series of recycling exchange hubs across 12 local government areas in Lagos state. This project, which is being implemented by Wecyclers, a social enterprise with expertise in recycling, is aimed at promoting responsible environmental stewardship and encouraging the adoption of recycling as a socio-cultural practice to drive desired behavioral change in waste management in the state. In line with the Sustainable Development Goals (SDG) 11 and 17 which speaks to Sustainable Cities and Communities, and Partnerships for the Goals, this tripartite partnership will help

promote a sustainable Lagos, create job opportunities, empower host communities, strengthen the economy, increase access to healthcare and improve lives and livelihoods across the state. Speaking on the partnership, Director, Sustainability and Governance, Sahara Group, Ejiro Gray, in a statement states: “At Sahara foundation, one of our key pillars is supporting and promoting sustainable societies. With this partnership, we are helping to create viable communities across the state by fostering a sustainable and circular economy through recycling”. Gray further stated that the rollout of these recycling exchange hubs will help educate people about the benefits of recycling, significantly impact lives and livelihoods in the host communities, and provide members of the communities with the opportunity

to capture value from their waste through incentive-based recycling. Gray commended the partners for their commitment to promoting sustainability and supporting a green Lagos. Also speaking at the event, the Executive Secretary, LSETF, Teju Abisoye, in her remarks, said, “The partnership is strategic to scale waste to wealth creation in Lagos State. She added that the project is dear to LSETF as it is the first primary project of the Fund in the green energy space and a start to creating a million Jobs that is guaranteed to promote a sustainable Lagos for many”. Abisoye stated that LSETF is fully committed to empowering Lagos residents and establishing these recycling exchange hubs will help provide economic opportunities for the host communities.

L-R: Director of Sustainability and Governance, Sahara Group, Ejiro Gray and Executive Secretary, LSETF, Teju Abisoye at the signing of the Memorandum of Understanding to promote environmental sustainability across 12 local government areas in Lagos state ...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

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Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

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OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

The price of OPEC basket of thirteen crudes stood at $92.17 a barrel on Monday, compared with $92.09 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ AY, ͯʹ˜ 2023

Market Cap Adds N703bn Amid Investors’ Positive Sentiment Kayode Tokede Positive sentiments returned to the stock market of the Nigerian Exchange Limited (NGX) as investors renewed interest in listed fundamental stocks. The positive sentiment lifted the stock market capitalisation by N703billion, closing last week at N28,602trillion from N27.899trillion the market opened for trading.

Accordingly, the NGX All-Share Index advanced by 2.52per cent week-on-week (w/w) to close at 52,512.48 basis points from 51,222.34 basis points. The stock market gain is on the backdrop of investors’ bargain-hunting activities in MTN Nigeria rose by 6.9per cent, Dangote Cement added 3.1per cent and BUA Cement added 3.6per cent. Consequently, the Year—till-

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

Date (YtD) return increased to +2.5per cent. According to the Exchange, a total turnover of 1.286 billion shares worth N29.634 billion in 19,816 deals were traded last week by investors on the floor of the Exchange. The Exchange in its report said, “The Financial Services Industry (measured by volume) led the activity chart with 952.237 million shares valued at N9.728 billion

S E C U R I T I E S QUANTITY TRADED

VALUE TRADED ( N )

traded in 9,647 deals; thus contributing 74.07 per cent and 32.83 per cent to the total equity turnover volume and value respectively. “The Industrial Goods Industry followed with 92.864 million shares worth N8.510 billion in 1,682 deals. The third place was the Conglomerates Industry, with a turnover of 54.568 million shares worth N96.654 million in 754 deals.

T R A D E D MAIN BOARD

“Trading in the top three equities namely FBN Holdings Plc, Sterling Bank Plc, and Guaranty Trust Holding Company Plc (measured by volume) accounted for 507.852 million shares worth N5.707 billion in 2,585 deals, contributing 39.50per cent and 19.26 per cent to the total equity turnover volume and value respectively. Analysts at Cordros research explained that, “In the short

AS O F

term, we expect market performance to be dominated by the bulls, as positioning for 2022FY earnings releases and accompanying dividends declarations should outweigh profit-taking activities. “Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the weak macro environment remains a significant headwind for corporate earnings.”

1 3 / 0 1 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

MONDAY, JANUARY 16, 2023 • 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 12Jan-2023, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 12.37% AIICO Balanced Fund 3.78 3.84 11.87% 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 9.98% Anchoria Equity Fund 151.17 152.86 4.29% Anchoria Fixed Income Fund 1.24 1.24 0.63% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 22.50 23.18 10.95% ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) 1.13 1.13 4.21% ARM Fixed Income Fund 1.11 1.11 9.84% ARM Money Market Fund 1.00 1.00 10.70% ARM Short Term Bond Fund 1.04 1.04 106.84% 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 99.53 99.53 4.66% AVA GAM Fixed Income Naira Fund 1,130.80 1,130.80 0.39% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.10 2.10 2.22% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.34 2.39 7.95% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A 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 CardinalStone Fixed Income Alpha Fund 1.05 1.05 0.28% 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 13.42% Paramount Equity Fund 18.53 18.87 2.71% Women's Investment Fund 148.69 150.49 2.76% CHD Nigeria Bond Fund 108.78 108.78 12.11% CHD Nigeria Dollar Income Fund 1.05 1.05 9.07% 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 N/A N/A N/A Cordros Milestone Fund N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A 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 N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A 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 1474.49 1474.49 12.12% FBN Balanced Fund 202.79 204.19 1.55% FBN Halal Fund 123.38 123.38 12.52% FBN Money Market Fund 100.00 100.00 13.66% FBN Dollar Fund 120.46 120.46 6.69% FBN Smart Beta Equity Fund 170.31 172.81 2.84% FBN Specialized Dollar Fund 104.23 104.23 9.87% 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 N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A 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 Coral Income Fund Coral Money Market Fund

N/A N/A N/A

FSDH Dollar Fund N/A N/A N/A GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End 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 12.70 12.74 3.06% Meristem Money Market Fund 10.00 10.00 11.53% 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) 100.93 100.93 8.03% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.89% 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 N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 129.92 132.19 0.05% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.00 1.00 11.05% 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 3,697.11 3,726.59 9.06% Stanbic IBTC Bond Fund 245.43 245.43 4.19% Stanbic IBTC Ethical Fund 1.44 1.46 15.08% Stanbic IBTC Guaranteed Investment Fund 333.09 333.09 6.37% Stanbic IBTC Iman Fund 262.92 266.12 12.57% Stanbic IBTC Money Market Fund 1.00 1.00 13.25% Stanbic IBTC Nigerian Equity Fund 12,392.67 12,527.95 13.44% Stanbic IBTC Dollar Fund (USD) 1.37 1.37 5.84% Stanbic IBTC Shariah Fixed Income Fund 121.23 121.23 3.70% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 115.34 115.34 8.42% Stanbic IBTC Absolute Fund 4,582.25 4,582.25 7.71% Stanbic IBTC Aggressive Fund 3,275.05 3,315.97 17.80% Stanbic IBTC Conservative Fund 4,273.12 4,288.04 12.23% 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 0.97 0.99 1.49% United Capital Balanced Fund 1.39 1.42 1.76% United Capital Wealth for Women Fund 1.17 1.18 0.68% United Capital Sukuk Fund 1.11 1.11 9.58% United Capital Fixed Income Fund 1.96 1.96 7.76% United Capital Eurobond Fund 125.59 125.59 5.61% United Capital Money Market Fund 1.00 1.00 15.01% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 14.12 14.25 7.07% Zenith ESG Impact Fund 16.15 16.31 10.46% Zenith Income Fund 23.60 26.60 14.35% Zenith Money Market Fund 1.00 1.00 11.28% 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 4.39 4.49 9.30% Vetiva Consumer Goods Exchange Traded Fund 6.27 6.37 7.29% Vetiva Grifﬁn 30 Exchange Traded Fund 19.02 19.22 7.50% Vetiva Money Market Fund 1.00 1.00 11.46% Vetiva Industrial Goods Exchange Traded Fund 24.57 24.77 22.84% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 143.74 145.74 -8.83% REITS NAV Per Share

Yield / T-Rtn

122.19 52.92 101.31 9.91

7.68% 3.98% -13.22%

Bid Price

Offer Price

Yield / T-Rtn

14.31 135.27 105.75 17.40 16.40

14.41 137.60 107.58 17.50 16.50

2.30% 5.99% 5.77% 2.22% 4.75%

NAV Per Share

Yield / T-Rtn

107.59

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

MONDAY, JANUARY 16, 2023 • T H I S D AY

NEWS

GOOD NEWS IN EDO… L-R: Commander, 4 Brigade, Nigerian Army, Brig. Gen. Danlami Ndahi; Edo State Governor, Mr. Godwin Obaseki; Commissioner of Police, Mr. Muhammed Dankwara; and Deputy Commissioner of Police in charge of Operations, Mr. Miller Dantawaye, after visiting the rescued Igueben train station kidnap victims at the Police Cottage Hospital in Benin City…yesterday

Tinubu Meets APC Guber, N’Assembly Candidates, Maps out Winning Strategies Says he's campaigning more than those that call him weak Adedayo Akinwale in Abuja The presidential candidate of the All Progressives Congress (APC), Senator Bola Tinubu, yesterday met with governorship and National Assembly candidates of the party ahead of the forthcoming general election. The meeting held at the campaign headquarters of the party in Abuja started at about 2p.m and ended at 5:50p.m. The meeting had in attendance the party's National Chairman, Senator Abdullahi Adamu, Senate President Ahmed Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, governors of the party, as well as members of the National Working Committee (NWC) and Presidential Campaign Council (PCC). Tinubu said he had been eager to meet with the party’s candidates and urged them to ensure they do not disappoint members of the party who elected them to fly the party’s tickets at the polls. The APC presidential candidate challenged the party’s candidates to go to the polls starting from the presidential and National Assembly elections on February 25 to the governorship and state assembly elections on March 11 with a united front. The former Governor of Lagos State said APC was formed not

just to be another political party, but as a champion of the people to rescue democracy from the ravages of the Peoples Democratic Party (PDP) which boasted of ruling the nation for 60 years. He stated: "I am pleased to meet with you today because in you I see our party’s hope and path to success. In you I see the hope of historic national progress as well. “As so often in life, victory is not a cause for rest or celebration. It is a call to a greater challenge and harder toil. Thus, you all have won the primaries but now must climb the higher mountain called the general elections," he said. “We formed this party to rescue the people and their collective prosperity from the avarice and greed of an elite that will devour the nation’s God-given endowment if we allow such people back into power. As those flying our party’s flag, we carry a heavy burden on our shoulders." Tinubu noted that they have the mandate to deliver the party to victory so that they can protect Nigeria from those who would devour all of its fruits. According to him, the party has placed its trust in us. Democratic victory in the coming elections is a task we must accomplish. Every one must collectively work for the party’s victory in all elections to ensure that the party's project of

growth and development for the nation is assured. The presidential candidate promised to continue to work for every one of them even as he also desires to become Nigeria’s president. He added: "We have to act like the broom, the symbol of our party. A stick cannot clean any dirt but coming together under the band as one, we can sweep aside all the bad and wrong things that impede our nation’s growth and development. “As individuals we must strive to win our respective elections. But that is not enough. We have to work together to deliver everyone contesting in our party. The presidential election, for example, is not solely about Bola Ahmed Tinubu. It is your project as well. Your election is equally my project. “We need each other. Whatever position you are contesting, you need me as much as I need you. If I work for you, I am helping myself; if you mobilize for me, you are working for yourself at the same time. Our individual and collective fates are one. Let us win and rise together. This is as it should be." “I therefore rededicate myself to the victory of you all just as I do for myself. As you can see, they call me weak but I am canvassing back and forth and, in every corner, and space of the nation. My opponents are not. I am outworking them because

this election is a great mission for me, much more than my personal ambition. “I too ask you all to re-dedicate yourself to the cause of the party and the future of the nation. I cannot be everywhere, no one can. “Our strength lies in our number and our spread. Having you across the length spread of this country makes me comfortable. I am working round the clock for our collective victory. We all should not rest until the entire election is over and victory is ours,” he added. Speaking with journalists after the meeting, former Governor of Nasarawa State, Senator Tanko Al-Makura said the meeting was called by the party leaders to get everyone prepared for the elections. He said: "This is a meeting that the leaders have called to get us really prepared, to get us properly inclined for what we are supposed to expect and what we're supposed to do. The election is about 40 days or so. And everyone has to be sensitised, everyone has to be in the right frame of mind to pursue the project in line with what is enshrined in the Constitution and Electoral Act. "And from what you can see, there is a tremendous amount of motivation, there is so much synergy in the ways a manner we are talking towards this election. I can see from the result of this meeting, that this

CAN Fumes as Bandits Kill Catholic Priest in Niger Dipo Laleye in Minna

Suspected terrorists yesterday burnt to death the Priest of St. Peters and Paul Catholic Church in Kafin-koro in Paikoro Local Government Area of Niger State, Rev Father Isaac Achi. Achi was killed at his residence at about 3a.m. The state police command confirmed the dastardly attack. Recall that Rev. Fr. Achi was the Parish Priest as of the time of the Christmas Day bombing at the St. Theresa’s Catholic Church in Madalla, Niger State on December 25, 2011. He narrowly escaped death. The police spokesperson, Wasiu Abiodun, said the bandits razed the building after failing to gain entrance into the priest’s residence. Abiodun said another priest was also shot while trying to escape from the attackers. “On 15/01/2023 at about

0300hrs, armed bandits invaded the Parish residence of one Rev. Father Isaac Achi of St. Peters and Paul Catholic Church, along Daza road, Kafin-Koro, Paikoro LGA,” the statement reads. “Unfortunately, the bandits reportedly attempted to gain entrance into the residence, but seems difficult and set the house ablaze, while the said Rev. Father was burnt dead. “A colleague of the Rev. Father identified as Father Collins was equally shot in the shoulder while trying to escape from the scene. Police tactical teams attached to Kafin-Koro Div were immediately drafted to the scene, but the hoodlums had escaped before the arrival of the teams. “The lifeless body of Father Isaac was recovered while Father Collins was rushed to the hospital for treatment.”

Ogundele Ayodeji, the commissioner of police in Niger State, has dispatched a reinforcement team to the area. The police said efforts are ongoing to apprehend the bandits. Meanwhile, the Christian Association of Nigeria (CAN) in the state has condemned the killing of Rev. Fr. Achi A statement issued by the media aide to the CAN Chairman, Most Rev. Bulus Yohanna, Daniel Atori, yesterday in Minna called for investigations into the attacks and the culprits brought to book. “CAN, Niger State strongly condemns the gruesome killing of Very Rev. Fr. Isaac Achi, priest of Saints Peter and Paul Catholic Church, Kaffin Koro, in Paikoro local government area of Niger state.’’ The CAN chairman called on the government at all levels, the police and other security agencies

to double their efforts in tackling banditry and insecurity. “One of the primary responsibilities of any government is to protect lives and properties of the people, enough of the attacks and wanton killings of innocent Nigeria citizens. “In the early hours of today (Sunday) the bandits got to the community, shooting sporadically, setting ablaze the Catholic Parish house, killed the parish priest and injured his assistant.” The association condoled the Catholic Diocese of Minna, parishioners and the entire Christendom as well as the immediate family of the slayed priest. Yohanna, who is also the Catholic Bishop of Kontagora Diocese, prayed for the repose of the soul of late Achi and the souls of all the faithful departed to rest in peace.

election will be a huge success for APC at all levels, because we're all on the same page." Also, the Secretary of the PCC, Hon. James Faleke, said the meeting was a relationship meeting between Tinubu and the PCC, to know what was happening in their various states. He added: "The biggest takeaway is the determination of everybody to work for the success of the party. From our interactions with the candidates, I can assure Nigerians that we are winning this election. As for the challenges they relayed to us that they are facing, it is an internal issue we will handle them internally." Asked about what the alert was about some cases in court and those that have been able to secure court judgments, Faleke noted that they are only dealing with the list released by the Independent National Electoral Commission (INEC) He stated: "We have some

candidates challenged by other aspirants, while others have court judgment. But as far as INEC list is concerned, we are going to deal with the list. We are not dealing with party's list this time around. We already have the INEC list in our custody. We have cases of somebody winning at the Court of Appeal but the loser who appealed to Supreme Court wants us to stay action because of the appeal. But, we have told them that the law does not operate that way. We have made it clear to them that the law says that the man with substantive judgment is allowed." On the relationship between Tinubu and the governors, he described it as fantastic, stressing that there was no crack in the party compared to PDP. According to him, he has fantastic relationships with the governors. Nobody should listen to those lies. If they are bold enough, let them say it. They are the ones that have problems like the G-5, G-2, G-1.

CUPP Asks Security Agencies to Probe Attack on Ugochinyere House, Fingers Imo Govt Udora Orizu in Abuja The Coalition of United Political Parties (CUPP) has called on security agencies to ensure that the gunmen who invaded the residence of its Spokesman and House of Representatives candidate of the Peoples Democratic Party (PDP) for Ideato North/South federal constituency, Ikenga Ugochinyere, on Saturday, burnt his house, cars and killed his uncle and three others, were nabbed and brought to justice. The opposition parties at a press conference in Abuja yesterday urged the Nigeria Police to ensure that all the perpetrators of the heinous crime are arrested quickly for immediate prosecution and necessary punishment as stipulated by law. Speaking on their behalf, CUPP co-spokesman, Mark Adebayo, accused Imo State Government of being the brain behind the assassination attempt on Ugochinyere. While demanding adequate security for Ugochinyere wherever he goes in continuation of his

lawful campaign activities, CUPP vowed that its leadership would escalate this incident through a comprehensive petition to relevant local and international agencies to ensure that justice is served. The coalition, describing Ugochinyere as a promoter of peace, a defender of justice and an advocate for fairness and equity, urged the people of Ideato to vote him in forthcoming election as he is the best person to represent them. CUPP said: "Saturday January 14, 2023 at about 0014 hours, a gang of deadly armed luciferic loonies attacked the country home of the National Spokesman of CUPP, Mr. Ikenga Imo Ugochinyere, with the sole aim of assassinating him. “Pictorial and video evidence show the horrific extent of the damage and murderous escapades of those terrorist gangsters who not only burnt down his entire house, set almost all vehicles ablaze and, worst of all, killed his uncle and yet to be specified number of his supporters and innocent bystanders.

MONDAY, JANUARY 16, 2023 • T H I S D AY

NEWS

TO OUR FALLEN HEROES... L-R: Chairman, Nigerian Legions, Ogun State, Master Sergeant, Olumide Orukotan; Commissioner of Police, Mr. Lanre Bankole; Commandant, Navy Secondary School, Abeokuta Navy Commander Jecinta Asetubobe; Commander, 35 Artillery Brigade, Alamala, Maj. Gen. Mahdi Abdullahi; and Ogun State Governor, Prince Dapo Abiodun, at the Armed Forces Remembrance Day ceremony at the Arcade Ground, Oke-Mosan, Abeokuta…yesterday

Edo Train Station Attack: Security Operatives Rescue 12 Kidnapped Victims Obaseki visits victims, hail security agencies Calls for investigation of NRC over negligence Adibe Emenyonu in Benin City Edo State Commissioner for Communication and Orientation, Chris Nehikhare, yesterday disclosed that 12 of the remaining 14 kidnapped victims from the Igueben Train Station attack have been rescued by a combined team of security operatives. The operation was carried out by a Special Force of soldiers, policemen, operatives of the Department of State Services (DSS), local vigilance members, hunters, among others. Travellers who were waiting to board a train from Igueben in Igueben Local Government Area of the state to Warri in Delta State, were penultimate week kidnapped by suspected herdsmen. The suspected herdsmen, who were armed with AK 47 rifles, had invaded the train station and shot sporadically into the air before herding unspecified number of intending travellers into the bush. In the process, some of the passengers, the state police command had revealed, sustained bullet wounds, just as it had assured that bush combing and rescue operations had begun to rescue those that were kidnapped. The initial reports were that 31 were kidnapped but the state government later said 20 people were kidnapped contrary to the earlier reports. Prior to the latest rescue operation, seven of the travellers had been rescued. But yesterday, the state government said 12 of the remaining 14 kidnapped victims had been rescued by a combined team of security operatives The victims were rescued when the security team tracked and intercepted the abductors in their hideout. The security operatives were said to have been tactful in their approach to ensure that no life was lost in the operation. During the encounter with the abductors, 12 of the victims were rescued, while some of the kidnappers were arrested. However, few of the kidnappers escaped with two of the hostages. The security team, he said, was getting the needed support and

encouragement to ensure the rescue of the two remaining victims. Edo State Governor, Mr. Godwin Obaseki, visited the 12 rescued kidnapped victims at the Police Cottage Hospital in GRA, Benin City, where they had been taken for medical attention and rehabilitation after the rescue operation. The governor was joined on the visit by heads of security agencies and other government functionaries. He reassured the people of the state that government would leave no stone unturned in securing the release of the two remaining hostages. The governor hailed the crack team made up of various security agencies in the state, hunters and members of the Edo State Security Network. He noted that their gallantry and tactfulness proved instrumental to the success recorded. The Edo State government assured families of the two

remaining abductees that it would deploy the full apparatus of state in ensuring their release. The government also reassured all residents that it was committed to the protection of life and property in Edo. Obaseki called on relevant authorities to investigate the negligence of the Nigerian Railway Corporation (NRC) which led to the kidnap attack at the Igueben train station in Igueben Local Government Area. According to him, “How will the corporation deploy just one policeman to guard the Igueben train station after recording a kidnap incident in Kaduna. “I must express our disappointment at the management of the Nigerian Railway Corporation because after the Kaduna incident, you would expect that they would have secured their facilities better. Six men came into their facility to kidnap people. This is something that has to be investigated. “It doesn't speak well of

their preparedness to run an effective and efficient railway system in Nigeria and doesn't give confidence to Nigerians that they will be safe using that mode of transportation. You can’t tell me that in a facility like the Igueben train station, you have just one policeman with one raffle guarding that facility especially after what happened in Kaduna. “I believe that the corporation knows what it's doing and should be investigated and ensure such incidents should not happen to any Nigerian again.” The governor said information indicted some traditional rulers in the area who have disobeyed government directives against open grazing as they still harbour herders in their communities. “We have information that some traditional rulers in that area do not obey and respect government decision to discourage open grazing by herders in their forests. “I have instructed that those traditional rulers should be

investigated and anyone found to be harbouring the herders will have questions to answer because that was what led to this incident. Communities that obeyed don’t have such incidents in their domain. Asked if ransom was paid to secure the release of the victims, Obaseki said: "No money was paid for their release as our special forces engaged in the joint operation and overpowered the kidnappers and rescued 12 persons and the kidnappers ran away with two victims.” “We are happy as a state and people that we have been able to secure the release of those kidnapped at the Igueben train Station over a week ago. It has been a very difficult situation as the might, will and security system we put in place in Edo State has been tested. We are glad the system is resilient,” he said. On his part, the Edo State Commissioner of Police, Muhammed Dankwara, said the kidnappers operated at the

Ugboha and Udo forests where special security forces laid ambush for them for over a week at the forest. He noted that as the kidnappers were trying to move their victims around that location, they were intercepted and were only able to escape with two other victims. He added: “We are working to ensure those two are released. We have arrested some persons who are a syndicate of this kidnapping gang. They are in our custody. Initially we rescued 10, with this 12 rescued we have just two left with the kidnappers. We assure Edo people that we will rescue them.” One of the rescued victims, Mr. Christian Iyere commended the Edo State Government and all the security agencies that collaborated to rescue them. Another victim identified as Aguele Betrice said the rescue operation was timely as it has saved their lives and freed their families and loved ones from trauma.

NERC: 66 Nigerians Died from Electricity-related Accidents in Six Months Emmanuel Addeh in Abuja A newly-released report from the Nigerian Electricity Regulatory Commission (NERC) has indicated that 66 Nigerians died from electricity-related accidents between January and June 2022. While 37 persons lost their lives from January to March, the NERC document covering activities in the power sector for quarters one and two of last year, showed that 29 Nigerians were electrocuted between April and June. Issues of safe use of power remain a major challenge in the Nigerian Electricity Supply Industry (NESI), with many substandard materials still in the market and amid complaints of Distribution Companies' (Discos) negligence. But NERC stated that in accordance with section 32(1) (e) of the EPSRA, the enabling law guiding the industry, the commission continued to monitor the health and safety performance in the NESI to guarantee the

delivery of safe and reliable electricity to Nigerians. Out of the 87 mandatory health and safety reports in 2022/Q2, the commission said it received a total of 86 reports with Ibadan Disco having one outstanding report for 2022/Q2. According to the industry regulator, the number of reports received in 2022/Q2 increased by eight from the 78 submitted in 2022/Q1. A breakdown of the numbers showed that in 2022/Q2, the total number of incidents was 53, that is, 24 injuries and 29 deaths compared to 55 incidents recorded in 2022/Q1, which was 18 injuries and 37 deaths. “The commission has developed new processes to track the submission of statutory reports, including the health and safety report by licensees which will guide the implementation of relevant actions against licensees that do not meet their reporting obligations. “The health and safety reports

were analysed in line with the provisions of Section 32(1)(e) of ESPRA for monitoring and evaluating of health and safety performance of licensees to ensure that operators abide by their responsibility of delivering safe electricity services to consumers,” it added. NERC explained that the commission has launched investigations into all the reported incidents with a view to understanding the root causes and meting out relevant actions against the licensees where applicable. Furthermore, the commission said that it has intensified efforts at implementing various safety programmes aimed at eliminating accidents in the industry. “Some of the safety programmes implemented by the commission include the standardisation of protective schemes, public enlightenment on health and safety, engagement of government agencies on Right of Way (RoW) violations, and

a review of an operational procedure for distribution system operators on fault clearing,” it said. “The total number of incidents in 2022/Q1 was 55. There were 18 injuries and 37 deaths compared to the 40 incidents recorded in 2021/Q4, which were nine injuries and 31 deaths. “The commission has launched investigations into all the incidents and will work with all sector stakeholders to improve the overall health and safety in the Nigerian Electricity Supply Industry (NESI),” NERC said in the report. Last year, a THISDAY analysis showed that in 21 months, spanning January 2020 and September 2021, at least 156 Nigerians were killed while 87 were injured in similar accidents. A review of the number of deaths and injuries between the first quarter of 2020 and the third quarter of 2021 from NERC, indicated that the Discos submitted 114 health and safety

reports to the power sector regulatory agency in Q1,Q2, Q3 and Q4 respectively in 2020. Out of the submitted incidents, nine persons died in Q1, 26 were killed in Q2, 19 were electrocuted in Q3 while 22 died in Q4 of the same year. In the same vein, four persons were injured in electricity-related accidents in Q1,12 in Q2, 11 in Q3 while 13 persons were severely impacted by the accidents in Q4 of the same year. In the first three quarters of 2021, spanning between January and September, the NERC report indicated that 24 people were killed by electrocution between January and March, 26 died between April and June, while 30 were killed between July and September of last year. In addition, in terms of injury, including those affecting employees in the sector and third parties, the report stated that 13 persons were maimed in Q1, 15 in Q2 and 19 Nigerians in Q3 of 2021.

MONDAY, JANUARY 16, 2023 • T H I S D AY

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COURTESY VISIT... Traditional ruler of Enugu-Inyi Kingdom in Oji River Local Government Area, HRH Igwe Mike Mberedeogu (left), and Enugu State Peoples Democratic Party governorship candidate, Dr. Peter Mbah, when Mbah visited the monarch at his palace…recently

Supreme Court Halts Elections in Three Warri LGAs Until Fresh Delineation

Alex Enumah in Abuja

The Supreme Court has barred the Independent National Electoral Commission (INEC) from conducting any election in Warri South West, Warri South and Warri North Local Government Areas of Delta State, until a fresh delineation is done in the electoral wards and units in the areas. The order was in respect of the appeal marked SC/413/2016 and filed by Hon. George Timinimi and nine others against INEC.

In the judgment delivered by Justice Uwani Musa Abba-Aji, on December 2, 2022, a copy of which was obtained by THISDAY, the Supreme Court stated inter-alia: "By virtue of Section 22 of the Supreme Court Act, I grant relief 3 (a) of the appellants’ claim which is: ‘An order of this court compelling the defendant, its agents, servants, privies and assigns to conduct a fresh delineation of all that electoral wards/polling units for Warri South West, Warri North and Warri South Local

NBA ADVOCATES INDEPENDENT CANDIDACY, DESCRIBES SECTION 221 AS FRAUD have any other choice. Today, everybody is celebrating the freedom to join a political party of their choice. This freedom is one of Gani's legacy for generations unborn. "In 2002, INEC released guidelines to regulate registration of political parties in the country. Gani's National Conscience Party was one of the political parties that applied but denied registration. He went to court to seek redress "The least we can do to immortalise Gani's ideals is to ensure that what he fought for are not compromised. As members of the Nigerian Bar Association, it is our duty to ensure that the forthcoming electron are free fair and credible. That is the least we can do to honour Gani, our own formidable hero of democracy. "We should work towards improving the democratic process in Nigeria. Gani worked to ensure that we have more political parties to choose from, but we can take it higher by seek to provide for an independent candidacy.” In her Keynote address, former chairperson of the Electoral Commission of Ghana, Mrs. Charlotte Kesson-Smith Osei, charged the Federal Government of Nigeria to deal with the issue of insecurity to foster confidence in the citizenry. In her lecture entitled, 'A Free,

Fair And Credible Election: An Indispensable Tool For National Development', Osei stated that a free, fair and credible election, remains an indispensable tool for national development. While declaring that Nigeria has got some success in conducting elections regularly, the former Ghanaian electoral chairperson expressed sadness that Nigerians were daily being confronted with cases of abduction, which she said, could hamper a smooth electoral process. Osei charged the FGN to deal with the issue of insecurity to foster confidence in the citizenry. The chairman of the occasion and former Vice-Chancellor of the University of Ado-Ekiti, Professor Akin Oyebode, described the late Fawehinmi as a unique individual, who fought against bad governance. In his words: “Gani had an indomitable spirit that you cannot overrun. Gani succeeded in democratising the legal profession. He made indelible marks in the practice of the legal profession in Nigeria.” Governor Babajide SanwoOlu of Lagos State, who was represented by the state's Attorney-General and Commissioner for Justice, Moyosore Onigbanjo, declared that Fawehinmi stood for democracy and led the battle against military rule in Nigeria.

Government Areas of Warri Federal Constituency in Delta State for the purpose of future elections." The suit which gave birth to the judgment commenced at the Federal High Court, Asaba Judicial Division on March 28, 2011. The appellants/plaintiffs had sued INEC on behalf of themselves and the Ijaws of Warri Federal Constituency of Delta State, claiming that INEC did not properly delineate wards and units in Warri South West, Warri South and Warri North Local Government Areas of Delta State in tandem with the existing population of the areas. They further claimed that there were fictitious wards and units in existence in the three Warri councils hence the need for a fresh delineation. In their arguments, they submitted that such wards

and units were being used as instrument of electoral manipulation and fraud, lamenting that in some cases, areas with high population had less wards and units, while sparsely populated areas had undeserved number of wards and units. They therefore asked the court to declare "that the Warri South West, Warri North and Warri South Local Government Areas of Warri Federal Constituency are not yet properly delineated into electoral wards and units by the defendant, its agents, servants, privies and assigns since 1999 till date for the purpose of registration of eligible voters with clearly identifiable wards and units in Delta State. "A declaration that any further election conducted within the Warri Federal Constituency to wit: Warri South West, Warri South and Warri North Local

Government Areas of Delta without proper delineation of appropriate wards/units allocated according to the existing population by the defendant in this suit is null and void. "A declaration that Warri Federal Constituency is due for fresh delineation of wards and units in compliance with the statutory and constitutional provisions of the Federal Republic of Nigeria. They also sought the order of the court compelling the defendant, its agents, servants, privies and assigns to conduct a fresh delineation of all that electoral wards/polling units for Warri South West, Warri North and Warri South Local Government Areas of Warri Federal Constituency in Delta State for the purpose of future elections Also sought was order of perpetual injunction

restraining the defendant, its agents, servants, privies and assigns not to conduct any other election within the Warri Federal Constituency comprising Warri South West, Warri South and Warri North Local Government Areas until a new updated delineation of wards and units are put in place by the defendant. However, the Federal High Court, in Asaba and the Court of Appeal, Benin Judicial Division, dismissed the case of the appellants. Dissatisfied, the appellants through their counsel, Mr. Eric Omare, appealed to the Supreme Court which in its verdict upturned the judgments of the two lower courts and ordered INEC to carry out fresh delineation of electoral wards and units in the Warri Federal Constituency of Delta State for the conduct of future elections.

FDC Predicts Hike in Interest Rate at Next Week’s MPC Dike Onwuamaeze The Financial Derivatives Company Limited (FDC) has projected that businesses and households would experience limited access to finance as the Central Bank of Nigeria (CBN) was expected to raise its Monetary Policy Rate (MPR) by 50 basis point when the central bank’s Monetary Policy Committee (MPC) meets next week. The FDC made the projection in its January 2023, edition of the FDC Bi Monthly in which it further projected that manufacturers might pay more in naira terms for their imported raw materials as the constant depletion of the external reserves could lead to a further widening of the Investors and Exporters’ forex and parallel markets’ gap as the exchange rate at the parallel market depreciates. It stated: “The MPC is set to hold its meeting in January and could likely increase the MPR by a 50 basis points as inflation remains elevated. Whilst this could be a less aggressive move, it is likely

to push up short-term rates in the near term. “The CBN's hawkish stance is expected to tighten liquidity in the system and keep the general interest rate elevated. This will lead to a high cost of borrowing and limited access to finance for individuals, corporations and the government. It also raises the risk of default on loans for financial institutions which can push up impairment costs.” The FDC further forecasted that Nigeria’s, “external reserve is expected to decline in the short term in 2023 owing to the decline in oil and gas prices, which are the country’s major exports.” The implication, according to the FDC, was that, “this could lead to foreign exchange rationing and discourage the CBN from increasing forex supply to industries and firms that rely on foreign exchange to finance their business activities.” It added that oil price was expected to likely trade below

$90 per barrel in the near term due to the surging cases of COVID in China and recession fears that would help to cool off prices. “The impact of the decline in oil prices (will be) a bad omen for Nigeria, as this could lead to a narrowing of its trade surplus owing to the decline in its export earnings. This could increase forex restrictions and rationing in the foreign exchange market. “Consequently, this is likely to stoke inflation as manufacturers pay more in Naira terms for their imported raw materials. “Generally, the outlook for 2023 shows that the headwinds will linger as upward risks to inflation and downward risks to growth persist. We have less than 25 days to the deadline for disallowing the use of the old currency notes as legal tender. Yet, the new notes are not available for transactions. “If the CBN proceeds to implement the new policy at the earlier scheduled date of January 31, transactions and economic activity will be largely constrained.

We expect inflation to begin to decelerate in the coming months while the CBN moderates the pace of interest rate hikes. “Oil production will improve to 1.4 mbpd - 1.5 mbpd in January as FGN intensifies efforts to ramp up production and subdue oil theft.” However, the oil price was expected to remain elevated and would continue to trade above its pre-war levels but would not test the 2022 peak. Short-term interest rates were expected to decline further as the money supply bulges. “We also expect FAAC to trend upward on increased tax returns and improvements in oil earnings. With the supplementary budget passed, we expect more releases for capital projects, thereby spurring up government spending,” the FDC stated. The FDC also explored and analysed in detail the economic opportunities in plastic waste management, food sustainability, and other topical global and domestic issues that could impact the Nigeria economy.

MONDAY JANUARY 16, 2023˾ T H I S D AY

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AT3 RESOURCES MARK THIRD ANNIVERSARY…

L-R: Head of Commercial, News Central Media Limited, Mrs. Rosemary Egabor-Afolahan; Corporate Communications Manager, AnglophoneWest Africa, Mrs. Oluwasola Obagbemi; Managing Director, AT3 Resources, Mrs.Tosin Adefeko; a guest fromVienna, Mrs. Imma Bavoigartner and Chief Executive Officer, House ofTara Industry, Mrs.Tara Fela Durotoye, during the celebration of AT3 Resources five years anniversary in Lagos...recently Photo; Abiodun Ajala

SERAP Threatens Legal Action against Lawan, Gbajabiamila over N228.1bn N’Assembly Budget

Udora Orizu in Abuja

A civil society organisation, Socio-Economic Rights and Accountability Project (SERAP), has urged the Senate President, Ahmad Lawan and Speaker of House of Representatives, Femi Gbajabiamila, to cut what it described as “the outrageous National Assembly budget of N228.1 billion,” including the N30.17 billion severance

payments and inauguration costs for members. The National Assembly had increased its 2023 budget from N169 billion proposed by President Muhammadu Buhari to N228.1 billion. The approved budget shows an increase of about N59.1 billion. The country’s budget of N21.83 trillion is based on a N10.49trillion revenue, and N11.34trillion deficit.

Abia APC Plans Massive Rally for Tinubu, Restates Resolve to Win Abia Emmanuel Ugwu-Nwogo in Umuahia

As the presidential campaign train of the All Progressives Congress (APC) rolls across the nation, the Abia State chapter of the party has concluded plans to hold “mother of all rallies” for Bola Ahmed Tinubu. Addressing party members during a meeting in Umuahia, the governorship candidate of Abia APC, High Chief Ikechi Emenike said that APC was ready to prove that it has grown to become the most formidable party in Abia. Tinubu is scheduled to be in Abia on January 24, 2023, following the revised timetable of the party’s presidential

campaign. “We shall tell the world that we have the capacity to win this election in Abia,” he said, adding that “Abia will become APC” after the 2023 poll.” The governorship hopeful said that the push for Abia to fall into the hand of APC “is a commitment” the party leaders in Abia have made and there was no going back in accomplishing the task. According to him, the ruling Peoples Democratic Party (PDP) was already scared stiff because of the burgeoning strength of APC in Abia. He also stated that the ruling party has also realised that the 2023 general election would not be business as usual for them.

Senator Adeola Faults FG’s Policy Banning Fuel Stations 20kmthre-day toward-to-ward Borders campaign James SowoleinAbeokuta The Chairman, Senate Committee on Finance and the All Progressives Congress (APC) candidate for Ogun West senatorial district in February 25 election, Solomon Adeola, has faulted the federal government’s policy banning operations of fuel stations at 20 kilometres to the international borders of Nigeria. The senator said the policy had been causing untold hardship and economic loss to the residents of the communities in the areas concerned. Adeola expressed his displeasure at the policy in a statement signed by the Director of Media and Communications of the Adeola Yayi 2023 Senatorial Campaign, Chief Kayode Odunaro, after his

tour of Ipokia Local Government Area. The senator, who held separate meetings with all the Ipokia Traditional Council and stakeholders, regretted that the policy that was conceived to tackle the menace of smuggling of petroleum products have negatively impacted on the economic fortunes of the people at borders areas. He stressed that in the absence of electricity and its epileptic nature around the borders, virtually all small and medium scale businesses have been grounded with majority of the law-abiding citizens suffering untold hardship buying and transporting the highly inflammable products for their business and living.

SERAP urged them to propose a refresh budget for the National Assembly that would reflect the current economic realities in the country, address the debt crisis, and prevent retrogressive

economic measures. In a letter dated January 14, 2023 and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said it is a grave violation of

the public trust and constitutional oath of office for the members of the National Assembly to increase their own budget at a time when some 133 million Nigerians are living in poverty.

SERAP said cutting the National Assembly’s budget would reduce the growing budget deficit, address the unsustainable debt burden, and serve the public interest.

NSCDC Warns Vandals, Criminals to Stay away from A’Ibom

Okon BasseyinUyo

The Nigeria Security and Civil Defence Corps (NSCDC) has warned that it will not hesitate to ensure the full wrath of the law is visited on vandals over destruction of government critical infrastructure in Akwa Ibom State. The NSCDC Commandant in the State, Mr. Suleiman Mafara,

gave the warning in an interview with journalists in Uyo, Akwa Ibom State capital. Mafara said in 2023, the command will be more proactive in planning to nib crimes in the bud and ensure that the mandate of the agency of safeguarding government critical infrastructure in the state is achieved. The commandant warned

vandals, hoodlums and all criminals to stay clear of Akwa Ibom as the state would no longer be conducive for their activities. He said the command had commenced training and retraining of personnel in preparation for the general elections to ensure hitch free polls in the state and country. “The major activities expected this year is the general elections and

we have commenced all necessary preparations, that is geared towards achieving free, fair, credible and acceptable elections in Nigeria as a whole and Akwa Ibom in particular “We have commenced training and re-training of our personnel since last quarter of 2022. We have sensitised our officers and men to operate within the ambit of the law, their scope and limitations.

FCCPC Boss Explains Inability to Resolve Bank Customers’ Complaints Peter Uzoho

The Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Council (FCCPC), Mr. Babatunde Irukera has said the enactment of the Bank and Other Financial Institutions Act (BOFIA) 2020 has limited the power of the council on the Nigerian banking industry in dealing with bank

customers’ complains against their banks. The FCCPC boss, who stated this during an interview on ARISE News Channel, explained that what that law did was to exclude the FCCPC Act from the banking industry, meaning that the oversight work that FCCPC does with resolving complaints in the financial institutions became limited. He said: “So, essentially,

the real statutory platform for resolving that banking complains is now the central bank exclusively. However, because banking constitutes the second largest complains we receive, what we have done at the FCCPC is to continue to do the work in the banking sector based on an understanding that withdrawing that channel would absolutely be chaotic. “And so, we’re struggling

with having the statutory tools to deal with the banking sector as we used to. And one of the results of this is that we don’t have the visibility that we would have to be able to contribute to policy and execution of policy in a way that would truly and fully capture what we know based on our experience in dealing with banking customers and what we understand the landscape of the industry to be,” Irukera said.

PDP Commends Makinde’s Performance in Oyo Adedayo AkinwaleinAbuja The Peoples Democratic Party (PDP) has commended the Governor of Oyo State, ‘Seyi Makinde for his outstanding performance in spite of the existing political differences. Deputy National Publicity Secretary of the PDP, Ibrahim Abdullahi, in a statement issued yesterday tagged: “Makinde’s strides towards enduring legacies,” said the governor’s has been outstanding and deserved

commendation. He said Makinde had made giant strides in education, agriculture, health, security and Human capital development. Abdulahi stressed that through purposeful, inclusive and well-articulated policies and programmes,the Makinde-led administration was bent on rekindling the lost glory of the historic and great people of Oyo State. He said: “Oyo State has experienced astronomical socio-

economic and political development through inspirational stewardship as evidenced in the physical and human capital reforms being carried out in the period under review “From a somewhat reticent state, deficient in attention and political flamboyance, Oyo State has suddenly become not just the centre of attraction, but a reference point and the cynosure of all eyes amongst committee of states in the federation,” he added. Abdullahi noted the citizens of the state across board attested

to the fact that Oyo never had it this good since the return of this Republic in 1999. “As a guest of the governor in Ibadan during his second term flag-off penultimate week, I have had the privilege of reconciling notion with evidence. For a week, I had the opportunity of on-the-spot assessment of the ongoing reforms in virtually all sectors of the state with particular emphasis on education, agriculture, health, security and human capital development,” he stated.

‘Kwara Paid N3.5bn as Pension, Gratuity to Retirees last Month’ Hammed Shittu in Ilorin Kwara State Governor, Alhaji AbdulRahman AbdulRazaq at the weekend disclosed that, his administration paid a total sum of N3.5billion last month as pension and gratuity to retired civil servants in the state. He said that, the payment covered 2009 and 2010 arrears of the retired workers in the state.

Speaking in Ilorin at the induction of new set of teachers trained for KwaraLEARN programme, the governor AbdulRazaq said: “We should have used that money to do some other projects under this administration but we used it to clear the liabilities they left. That is what happens in all sectors.” He added: “We are using our resources to cover liabilities of the

past. We feel it is a necessity to do so as a matter of government’s obligation to the people.” According to him, “By December last year, we earned N44 billion less than the last administration. If you look at the figures, between 2015 and 2019 the income to the state - FAAC, IGR and the likes were higher than what we have received between 2019 and today.”

“And yet, we are paying the N30,000 minimum wage and consequential adjustment which they could not pay and pointing up the prudence of the administration and its commitment to people’s welfare.” On the KwaraLEARN project, AbdulRazaq said that the present administration remained committed to quality education and human capital development.

MONDAY JANUARY 16, 2023˾ T H I S D AY

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NIGERIANS’ WEALTH GRAPH…

L-R: Executive Assistant, Common Sense Group, Mr. Adewale PaulMark; Group Administration Manager, Mrs. Chigozie Kenneth-Abah; Chief Executive Oﬃcer and Wealth Coach, Dr. Olumide Emmanuel, and General Manager, Mr. Folusho Omole, at press conference on Nigerians’ Wealth Graph and 2023 Budget in Lagos... recently ETOP UKUTT

Fear Grips Residents over Abduction of 25 Worshippers by Terrorists in Katsina Francis Sardauna in Katsina Palpable fear has gripped residents of Mai-Tsauni community in Kankara Local Government Area of Katsina state over the abduction of 25 worshippers in New Life

Church by suspected terrorists. The suspected terrorists, riding on motorcycles, stormed the church in the early hours of yesterday and abducted the victims when they were conducting service, leaving the church pastor, Daniel Danbai,

with injuries. Senior Special Assistant on Christian Affairs to Governor Aminu Bello Masari, Rev. Ishaya Jurau, disclosed this in a telephone interview with THISDAY yesterday. Jurau, who sent the names of some of the abductees to THISDAY, said: “Bandits

riding on motorcycles attacked New Life for All Church in Mai-Tsauni, Gidan Haruna in Kankara local government of Katsina State today (Sunday) around 10am. “They abducted 25 worshippers and left the church pastor with injuries while they were conducting service this

morning. But security agencies are currently searching the forest with a view to rescuing the victims.” The Secretary of the Katsina State Chapter of the Christian Association of Nigeria (CAN), Musa Peters, who also confirmed the incident to newsmen, claimed that

the terrorists abducted all worshippers in the church. “A terrible report reaching me has it that a church in Kankara local government was attacked this morning around 11:00 am while service was ongoing and all the worshippers except the pastor who was injured were kidnapped,” he said.

Gbenga Sodeinde in Ado Ekiti

all levels to embark on aggressive empowerment of the country’s youths in the areas of skills, entrepreneurial and knowledge acquisition to wean them of criminal tendencies. The federal parliamentarian said this in Ado Ekiti yesterday where she pointed out that this need spurred her to empower150 members of her constituents to bail them out of poverty. “I presented cash gifts to 350 constituents, alongside various

entrepreneurial tools, such as sewing machines, grinding machines and deep freezers,” she said. According to her, no nation could witness radical development in its socio-economic lives, when its productive population are neglected and made to rot in joblessness. Akande-Sadipe said: “I am of candid belief that the empowered constituent is an individual, who has acquired knowledge,

skill, desire, and opportunity to personally succeed in a way that leads to success and financial freedom. “Nigeria is today bugged down by the menace of insecurity because of increasing youth unemployment and which we should all show concerns. That is why I am midwifing this kind of programme to build the human capital resources of this federal constituency.”

PDP, APC Bicker over Buhari’s Visit to ‘Youth Empowerment, Potent Weapon against Insecurity’ Kwara for Campaign Hammed Shittu inIlorin The Director-General of the Peoples Democratic Party (PDP) Campaign Council in Kwara State, Professor Alli Ahmad, at the weekend alleged that there was a grand plan by the state government to use the presidential campaign of All Progressives Congress(APC) slated for Tuesday in Ilorin to woo President Muhammadu Buhari to unveil uncompleted projects in the state. He said the alarm became imperative in view of what may be adverse effects if such inauguration is done during the visit. President Buhari will on Tuesday lead the APC Presidential Campaign Council to

Ilorin, the state capital, to canvass for votes for the APC presidential candidate, Asiwaju Bola Ahmed Tinubu, and his vice presidential candidate, Alhaji Kashim Shettima. Speaking at a press conference in Ilorin, the Professor of Law and immediate-past Speaker of the state House of Assembly, said: “The PDP is always base its comment on issues and not on personality, and that is the reason we are alerting President Buhari and the people of Kwara State on this alleged impending move by the state Governor, AbdulRahman AbdulRazaq-led administration in the state to unveil some uncompleted projects during the visit of the president to Ilorin on January 17.”

Bauchi PDP Receives 20,350 APC Defectors Segun Awofadeji inBauchi Ahead of the 2023 general elections, the Peoples Democratic Party (PDP) Bauchi chapter has received no fewer than 20,350 defectors from All Progressives Congress (APC) across the 20 local government areas of the state. The Special Assistant, Political, to Governor Bala Mohammmed, Alhaji Musajo Buba, who stated this while receiving the defectors in Bauchi, described the defection of party faithful including key stakeholders from APC in the state as an indication of PDP’s predominance. He explained that the defectors have appreciated the good work and dividends of democracy provided in the state by the PDP administration to persuade them to join the party. The special assistant assured both the new and returning members of

a sense of belonging in the party, and charged PDP supporters and stakeholders to embrace and integrate the defectors back to the fold. Speaking on behalf of defectors, a stakeholder of APC, Mr. Bala Mato Zungur, said they have left APC because the party has failed them. “All alone we are in APC unfortunately the party has disappointed us with nothing to show but suffering and lack of internal democracy. We come to PDP because we appreciated what the governor is doing in terms of infrastructure, roads, hospitals, education empowerment among others,” Zungur stated. He added: “The defectors you see in this place have worked and supported APC for over eight years ,but the party seems to be going astray without bearing , we have finally returned to PDP to move the state forward.”

A Member of the House of Representatives from Oyo State, Hon. Tolulope AkandeSadipe, has described human capital development as the best weapon for Nigeria to overcome the challenges of kidnappings, killings and banditry. Akande-Sadipe, who is representing Oluyole Federal Constituency of Oyo State, harped on the need for governments at

Diri: We’re Committed to Developing Bayelsa Blue Economy Olusegun Samuel in Yenagoa Bayelsa State Governor, Senator Douye Diri, has restated the commitment of his administration to develop and harness the economic potential of the aquatic environment of the state. Governor Diri explained that this quest necessitated the ongoing construction of

three senatorial roads leading to the Blue Economic Zone of the state. Speaking in Twon-Brass Island, which is the headquarters of the Brass Local Government Area during the flag-off of the Peoples’ Democratic Party (PDP) Bayelsa East Senatorial Campaign, the governor noted that the wealth of the state is in the Atlantic Ocean.

He stated that his administration would do all that is within its power to harness the resources in the ocean for the benefit of the people. A statement by his Chief Press Secretary, Mr. Daniel Alabrah, quoted him as assuring that his administration would not play politics with development of the state. He said the ongoing big-

ticket Nembe-Brass Road in Bayelsa East is a testament to his administration’s seriousness to develop all parts of the state. Governor Diri explained that his administration’s efforts to transform the state’s economy has led to the increase of the monthly grants to small business owners in all the 105 wards from N50 million monthly to N100 million.

Obi, Now National Project, Says Ex-House Leader Erstwhile Deputy Minority Leader of the House of Representatives, Mr Emmanuel Arigbe-Osula, has welcomed the defection of the Deputy Speaker of the Kaduna State House of Assembly, Dr Auta Zankai from the All Progressives Congress (APC) to the Labour Party(LP) as a breakthrough for the party’s presidential candidate, Mr.Peter Obi.

Arigbe-Osula, a onetime associate of President Muhammadu Buhari said the defection of Zankai and another incumbent member, Suleiman Dabo, Zaria State Constituency from APC to LP has proved to skeptics that Peter Obi is now a national project. The defection of Dr. Zankai and Hon Dabo was announced

last Thursday. He said: “For several of us who were quick to see the Obi-Datti presidential aspiration as the answer to years of leadership deficit that Nigeria has for long suffered, this news is indeed cheering. It is a rebuff to the claim that Obi cannot win in the north. “That puerile argument projects

the claim that Northerners who have suffered like many others under the present administration love the yoke that has been imposed on them. That is a lie and the fact that the deputy speaker and a member of the House in the ancient capital of the North have buckled is an indication that the message is making progress.

Group: Tinubu’s ‘Unintelligent Words’ Are Poetic Jargons Ayodeji Ake The Social Rehabilitation Gruppe (SRG), yesterday defended the All Progressive Congress (APC) presidential candidate, Bola Tinubu’s unintelligent words ‘Ba la blu’ heard during his campaigns,

as poetic jargons. Videos of Tinubu saturated social media capturing some ‘unintelligent words’, “Ba la blu” and some other unrecognised words uttered during his presidential campaigns. Addressing attendees virtually at the inaugural

meeting of SRG, the Convener, Mr. Oludare Marindoti, said although the uttered words don’t make sense but the context in which they were used corresponded and made sense which could be likened to poetic jargons. “The word ba la blu, doesn’t

make sense but if anyone can make a 15-second cut of that statement, where he said we are making progress, it will be obvious that it makes sense because its different from the ‘bu lu ba la’ of another party, what Asiwaju was saying were poetic jargons, “ he said.

MONDAY JANUARY 16, 2023˾ T H I S D AY

NEWS XTRA

Prioritise Security, Cleric Tells FG Fidelis David in Akure The federal government has been tasked to see peace and stable security as the panacea for Nigeria’s development and progress. The President and General Overseer of the United Apostolic Church of Christ (UACC) Worldwide, Rev Dr. James Bayo Owoyemi, stated this yesterday at the 2023 United Apostolic Church of Christ (UACC) Annual Financial Report and Special Thanksgiving held at the church missionary headquarters in Akure, the Ondo State capital. This followed bandits attack on Kafin Koro community in Paikoro Local Government Area of Niger State yesterday where a Reverend Father, Isaac Achi of Saint Peter

and Paul Catholic Church was burnt to death. Owoyemi, while berating the incident, called on the government to give priority attention to security in the country in order to adequately protect its citizenry. According to him, “The government needs to be proactive regarding the security issue of Nigeria. It is unfortunate that Nigeria is in this mess, but we believe that when good leadership is enthroned, normalcy will return to the country. Unfortunately, the security lapses in Nigeria is everywhere and not in the northern part of the country alone. “In the Southwest, Southeast, and South-south, one can’t move freely, as terrorists are everywhere. But we believe in God that normalcy and

peace will return to our country,” calling on electorate to choose wisely in the 2023 general election. The cleric added: “Leadership is the problem of Nigeria; we are blessed with abundance of resources but unfortunately Nigerians suffer because of leadership failure, and given this, God will intervene and change the story for good. “We have been praying before now and God has promised that he will intervene in the political situation of Nigeria and the government of the country, and by the Grace of God, Nigerians will go to the poll. We are believing in God that there will be restoration in Nigeria because God will enthrone the person of his own heart to be at the helms of affairs of the country.

Work Together for Peaceful 2023 Elections, Group Urges Youths Blessing Ibunge inPort Harcourt Ahead of the 2023 general elections, a non-governmental organisation, Arthur Darby Foundation, has pleaded with the youths in Nigeria to work together for peaceful elections in the country. The group noted that the future of Nigeria is bigger than individual ambitions, advising the electorates to prevent everything that would mar the elections in February and March this year. The Executive Director of

AD-Foundation in Nigeria, Mr. Chiefson Nwaiwu, gave the advice while disclosing the activities of the foundation to journalists in Port Harcourt, ahead of the elections. According to Nwaiwu, the organisation has commenced an enlightenment campaign targeted at educating Rivers people on ways to ensure peaceful and successful elections. He stressed that the future of Nigeria and Africa at large lies in the hands of the young people, and urged them to promote peace and nonviolence during and after

the elections. He said: “Young people have a major role to play in promoting and sustaining peace, before, during and after the elections. “There is no doubt that some individuals will make attempt to antics youths to stimulate violence, young people must not fall for these tricks. “The future of Nigeria is bigger than individual ambitions. As young people, we must remember there is a great future ahead of us. Posterity will never forget the decision we make today.

Edo to Host S’South Govs Conference on Human Capital Devt Adibe EmenyonuinBenin The Edo State Governor, Mr. Godwin Obaseki, would host his counterparts in the South-south region for a two-day conference on human capital development (HCD). A statement by the Managing Director, Edo State Skills Development Agency, Ms. Violet Obiokoro, who is also the state focal person for HCD, said that the two-day conference would hold from Tuesday, 17th to Wednesday 18th January 2023 in Benin City, the Edo State’s capital. Obiokoro said “His Excellency,

the Edo State Governor, Mr. Godwin Obaseki, will play host to governors from the South-south for a two-day Human Capital Development (HCD) Regional Conference (Edo 2023). “The event, which holds at the New Festival Hall, Government House, in Benin City is aimed at increasing human capital investments as a vehicle to poverty reduction and increased life expectancy. The conference will focus on three thematic areas (Health and Nutrition, Education and Labour force participation).” According to her, “the conference with the theme ‘Accelerating

Human Capital Development in the South-South Region of Nigeria,’ will provide the platform for the Governor Obaseki-led administration to demonstrate the results of its continued investments in human capital development in the past six years.” The Nigerian Human Capital Development programme was launched by the federal government in 2018 in recognition of the role of human capital development in addressing poverty and other socio-economic issues to spur sustainable growth and improve life expectancy in the nation.

Rabiu Becomes Fourth Richest Man in Africa Founder/Chairman, BUA Group, Abdul Samad Rabiu has claimed the title of Africa’s fourth-richest man, displacing Egypt’s richest person, Nassef Sawiris. This is coming months after Rabiu rose to the position of Nigeria’s second-richest man by exceeding the fortune of Nigerian telecom tycoon Mike Adenuga. According to information from Forbes, Rabiu’s net worth has increased by more than $2.4 billion in the last year, from $4.9 billion to $7.6 billion. Consequently, he is currently Africa’s fourth-richest man, behind fellow Nigerian billionaire Aliko Dangote and two South African billionaires, Johann

Rupert and Nicky Oppenheimer. He surpassed Egyptian billionaire Nassef Sawiris, whose net worth stands was $7.3 billion after rising above $7.6 billion. The majority of Sawiris’ wealth comes from his holdings in Adidas and OCI N.V., making him the richest individual in both North Africa and the Arab world. However, the source of Rabiu’s $7.6 billion fortune is his manufacturing company, BUA Group, which is one of the continent’s fastest-growing manufacturing conglomerates. Rabiu is currently Africa’s fourthrichest man and the second-richest man in Nigeria.

The Nigerian billionaire owns the majority of both BUA Foods, which went public in 2022, and BUA Cement, his flagship cement company which is publicly traded. The Nigeria-based BUAGroup’s integrated food business unit, BUA Foods, is in operation. The activities of BUA Sugar Refinery Limited, BUA Oil Mills Limited, IRS Flour, IRS Pasta, and BUA Rice Limited are all included in its operations. Rabiu’s net worth has increased from $4.9 billion to $7.6 billion since the company’s shares were listed on the Nigerian Exchange a year ago, as of the time of this article.

Veteran Actor, ‘Papa Ajasco’ is Dead Veteran Nollywood actor, Femi Ogunrombi, who was a stand-in character for Papa Ajasco in the popular 1996 Sitcom has passed on. A theatre practitioner, journalist and lecturer, Dr. Shaibu Husseini, announced the death of the veteran, on his Twitter page yesterday. “I have just been reliably informed that the ethnomusicologist, former Music Instructor with @National Troupe and one time stand in for the ‘Papa

Ajasco’ character on the popular @waleadenugaprod Comic Series ‘Papa Ajasco’ Mr. Femi Ogunrombi is dead,” he tweeted. A digital journalist and talent manager, Mr. Mayowa Adenekan, while also sharing the news on the social media said that the late actor was a the stand-in actor when the first Papa Ajasco character pulled out. “Veteran actor Femi Ogunrombi a.k.a Papa Ajasco is dead. I see a lot of people using images of the first papa Ajasco Mr. Abiodun

Ayoyinka, but the one that died is Mr. Femi Ogunrombi, the one that took over the character when Mr Abiodun Ayoyinka pulled out of the show. May his soul RIP,” he said.

MONDAY, ͹;˜ ͺ͸ͺͻ ˾ T H I S D AY

MONDAYSPORTS

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New Dawn in NPFL as Away Teams Dominate Opening Weekend Abia Warriors, Tornadoes, 3SC, Remo Stars, Rivers Utd pick vital points

Femi Solajain Ikenne It was a contrasting fortune for home teams on Match Day-1 of the Nigerian Premier Football League (NPFL) as many away teams picked vital points as the long-awaited domestic topflight were played to complete the opening round. Returnee Bendel Insurance of Benin City had set the pace penultimate weekend, picking the vital points away in the official opening match of the season against former Champions Akwa United at Uyo. Abia Warriors similarly took a short trip to Rangers new home in Awka to score two late goals in each half to pick the maximum points. Bello Lukman and Yakub Hammed did the job for Abia. Niger Tornadoes also went away to pick valuable three points with their 2-0 at Wikki Tourist. Earlier

on Saturday, Enyimba of Aba won 2-1 away at Nasarawa United to complete the away team victories

NPFL MATCH DAY- 1 GROUP A Kwara Utd 0-0 Gombe Utd Plateau Utd 3-3 Shooting Stars Remo Stars 2-0 El-Kanemi Nasarawa 1-2 Enyimba Akwa Utd 0-2 B’Insurance

on this match-day 1. However, teams like Dakkada United, Sunshine Stars, Gombe United and Shooting Stars of Ibadan all secured useful draw in away grounds on Sunday evening. The Oluyole Warriors were cruising to away win at Plateau United, leading 3-1 but the home side rallied back with two late goals to leave the score line at 3-3. Goals from Izuchukwu Chimezie

in the 73rd minute and Onyebuchi Ifeanyi in the 81st minute earned the Plateau team a share of the spoil. At Ikenne, one of Nigeria’s representatives in the CAF Confederation Cup tournament last season, Remo Stars, were the better side against returnee, El-Kanemi Warriors. They however wasted several scoring opportunities until 30th minute when Samuel Anakwe

scored from a long range blast while Ezekiel Edidong completed the win with a volley in the vital area for the second goal of the match. Kwara United failed to take the home advantage as Gombe United proved difficult in their goalless outing. Defending champions, Rivers United, had to rely on a late goal before they could earn maximum points against 10-man Lobi Stars

in Port Harcourt. Maurice Chukwu opened the score for the home side in the 16th minute but Abba Umar levelled the score in the 55th minute but Sunday Chukwu disrupted the game plan for the visitors when he got a second yellow card and got sent off. A late minute penalty scored by Bolaji Sarki assured the defending champions full points.

GROUP B Rangers 0-2 Abia Warriors Bayelsa Utd 1-1 Dakkada Doma Utd 1-1 Sunshine Stars Rivers Utd 2-1 Lobi Stars Wikki Tourist 0-2 Tornadoes

Sterling Bank Scores With Renewed Bendel Insurance Deal

Sterling Bank Plc, Nigeria's leading financial institution has renewed her kit sponsorship deal with Bendel Insurance Football Club of Benin City for the new Nigerian Premier Football League season. This kit sponsorship renewal was formalised at the 2022/23 jersey unveiling ceremony held recently at the Edo State Government House in Benin, Edo State recently. Executive Director at Sterling Bank, Mr Tunde Adeola, made the pledge stating that “Sterling is very grateful and honoured to be a part of the return to footballing glory of Bendel Insurance”. He continued by saying that, “We at Sterling will continue to support and sponsor Bendel Insurance because we did so last year, are doing so this season and look forward to continuing this partnership.” The Edo State Deputy Governor, Comrade Philip Shaibu, who doubles as the chairman of Bendel Insurance and Edo Queen football clubs, thanked Sterling Bank for its support. Comrade Shaibu said after the governor directed the board to reduce government’s spending on Bendel Insurance which informed why the board approached

several private establishments for sponsorship. The Deputy Governor stated that “Sterling Bank believed in us, they believed in our dream and our vision, and they came in last year to break the jinx of having a corporate entity sponsoring a team in Nigeria National League (NNL) and the Nigerian Professional Football League (NPFL).” "They brought in N50 million last year. But they said we are bringing in our corporate name which we cherish so much, and I also reminded them that as they cherish their name, we also cherish the Bendel Insurance name. “I told them that two important names are coming together. The implication is that they will do well. They said if we do well, they will increase it, and they gave an option of first refusal. Today, we have been promoted and they have increased it," Shaibu revealed with enthusiasm. Bendel Insurance Football Club signed the largest kit sponsorship partnership in Nigerian club football history with the inking of a record making deal worth N50 million with Sterling Bank for the 2021/2022 Nigerian National League (NNL) season.

Arsenal players celebrating their 2-0 victory in the North London Derby against Tottenham Hotspur...yesterday

Arsenal Win North London Derby to Extend Lead to Eight Points Arsenal extended their lead at the top of the English Premier League to a formidable eight points with an outstanding performance. The Gunners won the North London derby at Tottenham 2-0. The Arsenal took full advantage of Manchester City's 2-1 loss at Manchester United on Saturday with an impressive show of style in the first half and steel after the break to claim a vital three points. They were helped by a blunder from hapless Spurs keeper Hugo Lloris when he fumbled Bukayo Saka's cross into his own net after

14 minutes, but it was no more than Mikel Arteta's side deserved as captain Martin Odegaard drilled in a second from outside the area nine minutes before the break. Spurs, so poor in the first half, did have their chances but found visiting keeper Aaron Ramsdale in top form as he saved twice either side of half-time from Harry Kane and also stopped Ryan Sessegnon's angled effort. The derby was however almost

marred by shoving and pushing by players on both sides but timely intervention of both managers saved the scene from turning very ugly. Elsewhere, Chelsea picked up a much-needed three points with a comprehensive 1-0 victory over Crystal Palace yesterday. The Blues were on top throughout and could have easily had a few goals, but had to settle for Kai Havertz's second-half header to seal the victory. Chelsea began with real energy as Carney Chukwuemeka and

Lewis Hall both played dangerous balls into the box inside the first few minutes. At St James’ Park, substitute Alexander Isak made sure the "work was worth it" says manager Eddie Howe, as the Newcastle striker marked his return from injury with an 89th-minute winner against Fulham. Club record signing Isak, on his first league appearance since September, nodded home from close range at a jubilant St James' Park to send Newcastle back into third in the Premier League.

the chance to remember its fallen heroes that paid the supreme prize as well as those who are still alive and contributed to making the country safer. “The essence of the kitty is to also be able to generate small funds for those that are still living to assist them and also tell the nation that in as much as we are fighting war, we also keep fit in the course of fighting war,” Amao said. He lauded the involvement of NGF which is the body in charge of golf in the country for staging the maiden Armed Forces and Remembrance Day Golf kitty. On his part the NGF President, Otunba Olusegun Runsewe, thanked the Chief of Defence Staff for approving the partnership which he said will help foster harmonious civilian-military relationship. Runsewe, who is also the DG National Council for Arts and

Culture (NCAC), noted that the golf federation had succeeded in using the kitty to bring new innovations in how tournaments are organised in the country. He said every player was given his breakfast and lunch ticket, which effectively curbed scrabbling for food while in line with the international best practices, marshals were branded on the golf course. He lauded the partnership with the Chief of Defence Staff, saying it will open up a new strategy of empowering Nigerians, particularly the professionals. “It is an occasion to open up a new strategy of empowering Nigerians. If we get four more CDS strategies for this type of brand the entire Nigerian golfing community will be busy throughout the year. That is how they do it abroad. The NGF wants to make the difference this time,” Runsewe concluded.

Nigerian international, Ademola Lookman, scored a brace and provided an assist as Atalanta batter Salernitana 8-2 in Sunday’s Italian Serie A clash. Lookman who featured in his 16th appearance for Atalanta, has netted seven goals and bagged two assists. Atalanta took the lead in the 5th minute. Jeremie Boga made a shot from outside Salernitana’s penalty box and after a ricochet, it went to Guillermo Ochoa’s net. Teun Koopmeiners was close to finishing Atalanta’s attack with another goal, but Ochoa deflected the ball after the midfielder’s shot. Salernitana responded with a goal in the 10th minute. Boulaye Dia went one-on-one with Juan Musso and shot the ball between the legs of the Atalanta goalkeeper.

PREMIER LEAGUE

Okpekpe Race Organiser Hails Okowa's Election as African DHQ Partners NGF on Armed Forces Lookman on Target Athletics Regional President and Remembrance Day Golf Tourney as Atalanta Go Crazy with Goals

Organiser of the Okpekpe International 10km Road Race, the first World Athletics label road race in West Africa, has congratulated President of the Athletics Federation of Nigeria (AFN), Tonobok Okowa, on his election as President of African Athletics Region 2, West Africa on Saturday. Okowa defeated Vierin DeGon of Benin Republic at the second round of voting with nine votes to six to succeed another Nigerian, Shehu Ibrahim Gusau as President of the regional athletics body. In a congratulatory message, Mike Itemuagbor, Organiser of the Okpekpe road race said Okowa has been a huge success since he assumed the mantle of leadership at the AFN in June 2021 and members of the African Athletics Region 2 are not unaware of this. “I would like to congratulate

my brother, Tonobok Okowa on being elected as the President of African Athletics Region 2. His wealth of knowledge in the field of sports governance and administration, acquired through time as a politician and a businessman means athletics in the sub-region is in capable hands in years to come,” said Itemuagbor. The Okpekpe road race chief says Okowa has been a breath of fresh air since he assumed leadership of the AFN and he is in no doubt he will be a huge success as president of an African Athletics regional body. “During his less than two years at the helm of affairs as AFN President, Okowa has returned Nigeria to the podium at all major global and regional athletics competitions and has helped in the development of the sport at the grassroot level.

Olawale Ajimotokan in Abuja

The Defence Headquarters has collaborated with the Nigerian Golf Federation (NGF) in organising the 2023 Armed Forces and Remembrance Day Golf Tournament. The tournament was played between January 12 and 13 at the TYB Golf and Country Club, Mambilla Barracks, Abuja. The Chief of Defence Staff, General Lucky Irabor, who was represented by the Chief of Air Staff, Air Marshal Isiaka Oladayo Amao, performed the ceremonial tee off. The tournament entry list was made up of over 250 golfers including professionals, amateur players, ladies, chief executive officers and members of the security organisations. The CAS noted that the tournament was important to the Armed Forces as it afforded the military

Monday, January 16, 2023

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MISSILE Okonta to Tinubu “Do Nigerians really want another Buhari look-alike for yet another eight years? Bola Tinubu’s Chatham House debacle reveals deeper issues concerning the character of Nigeria’s present ruling class. It is a neocolonial bourgeoisie that is not only corrupt but also incompetent. It is entirely without national pride and patriotism and is content with being the errand boy of their real bourgeois masters in Europe and North America” – Dr. Ike Okonta, contends that Tinubu’s Chatham House presence reveals deeper issues.

MAHMUDJEGA VIEW FROM THE GALLERY

Red, Blue and Swing States

ver the years many curious young Nigerians have asked me, apparently after watching American political stories on CNN, that which are the Deep Red states in Nigeria, which are the Deep Blue states and which are the Swing states? Their questions remind me of the PRP intraparty rift in 1981, when the party’s President General, Malam Aminu Kano, said some party members [meaning Governors Muhammed Abubakar Rimi of Kano and Abdulkadir Balarabe Musa of Kaduna] had been swept away by santsi, a slippery slope. Rimi, who never missed the opportunity for a fight, replied that some party members [meaning the Leader] were stuck in tabo, i.e. sticky mud. Thinking about the voting pattern of Nigerian states since 1999, it looks like a few were stuck in sticky political mud while most others have been on a slippery political slope. By my count, there are only three states in Nigeria that have never been ruled by PDP since 1999. Even at the peak of PDP’s power, when it ruled most states in the country, Lagos, Borno and Yobe never came under its rule at state level. Lagos has been an AD state all through; AD carried it into AC, into ACN and subsequently into APC. In 2003 when PDP captured five of six AD-controlled states, only Lagos escaped. These three are the Deep Blue States of Nigeria. Big lessons emerged out of that 2003 fiasco. AD rued the decision of most of its governors and party leaders not to field a candidate for president in solidarity with President Olusegun Obasanjo, a “shon of the shoil” who was installed in the presidency in 1999 mostly with Northern votes but upon whom huge chunks of the North had turned their backs on by 2003. AD governors thought they had a deal. But as soon as he won his second term, Obasanjo told them to prepare to pack out, and two weeks later PDP governorship candidates captured five of six AD states. It was said at the time that Bola Tinubu was the only AD governor who opposed the plan not to field a presidential candidate. His relationship with Obasanjo has been sour ever since. He was the only governor left to pick up the AD pieces, which marked the beginning of his rise to become the dominant political force in the West in subsequent years. Apart from Lagos, Western states have been among the Swing States of Nigeria since 1999. Oyo State for example went from AD to PDP, back to APC and then back again to PDP. There is reason to believe that Governor Seyi Makinde has missed the 2003 lessons learnt by his predecessor, the late Alhaji Lam Adesina, by joining the G-5 group of governors to repudiate their party’s presidential candidate. Now he is on very slippery political terrain. Ogun returned to ACN in 2011. Ekiti did so after a protracted court fight after 2007, returned

Tinubu

to PDP in 2014 and back to APC since 2018. Ondo went from AD to PDP in 2003, to LP in 2007 after a court fight, and back in APC since 2016. Osun too zigzagged from AD to PDP in 2003, back to ACN in 2011, on to APC and late last year, it revolved back to PDP. Borno and Yobe on the other hand, have been in ANPP hands since 1999, which party carried them into APC. Good local leadership as well as Boko Haram had something to do with it, because of the feeling, rightly or wrongly, that the PDP-led Federal Government did not do enough to put down the insurgency. In 2015 Borno gave APC candidate Buhari 94% of its votes, the highest in Nigeria since PDP’s Rivers State score in 2003, when in some LGAs, every registered voter was said to have voted and everyone voted for PDP. Otherwise, we had not seen such sweeping popularity since 1979, when UPN’s Chief Obafemi Awolowo won many Western states with more than 90% of the vote. The East is generally thought to be PDP territory. It swept all its five states in 1999 and held on to them most of the time since then. The region is part of the Red States of Nigeria, but not without some dents. APGA delivered the first dent in 2003, though it took a three-year court battle before its candidate Peter Obi got to occupy the Anambra governorship. The state has been in APGA’s hands ever since. The second big blow to PDP in the East was dealt by Orji Uzor Kalu’s PPA in 2007, when it grabbed the governorships of Imo and Abia states. The two governors were soon back in PDP’s fold through defection. Right now, APC controls two Eastern states, one [Ebonyi] through defection, the second [Imo] through a cantankerous Supreme Court ruling. Niger Delta has been a Red States zone

as a solid PDP base since 1999, with three important dents. One followed the 2007 election, when ACN’s Adams Oshiomhole grabbed the governorship of Edo after a court battle. It was daylight robbery because the REC called for a break in the counting, chased reporters away and then surreptitiously announced PDP’s candidate Oserheimen Osunbor as the winner. The second dent was in Cross River, when the bombastic Governor Ben Ayade defected to APC, while the third big dent was in Bayelsa, where APC won the governorship in an off-season election, only for its candidate to be disqualified by the courts because of his running mate’s untidy papers. Delta, Enugu, Akwa Ibom, Rivers, Bayelsa and Taraba have been the Deep Red states since 1999, never ruled by any party other than PDP. For most of this Republic, Middle Belt was a Red States zone as solid PDP territory. Except Kwara, which ANPP captured in 1999, it swung to PDP in 2003, went to APC by defection in 2013, has remained there ever since. Kogi also started off as ANPP territory in 1999. PDP snatched it in 2003, it reverted to APC in 2015 and has remained there, however ratatata. Neighbouring Benue was a Red PDP State from 1999 to 2015 until APC snatched it. It went back to PDP through defection, with a complicated picture this year because its governor is a frontliner in rejecting his party’s presidential candidate, without providing an alternative. To Benue’s North, Nasarawa was a Red State from 1999 to 2011. Umaru Tanko Al-Makura made it a CPC Blue State in 2011, from where it went to APC and has been there ever since. Its former parent state, Plateau, was solid Red State from 1999 to 2015, when it joined the APC Blue States, where it still is. Niger State was also a PDP Red State from 1999 to 2015,

when it became an APC Blue State. Swinging has been the name of the political game in the North West since 1999. ANPP captured four of the zone’s seven states for the Blue corner in 1999 while PDP put three in the Red corner. Kaduna was a PDP Red State until 2015 when APC moved it to the Blue corner. Kano went from a Red State in 1999 to a Blue ANPP state in 2003, returned to Red in 2011, went over to APC Blue by defection in 2014 and has remained there ever since. It is the only state with a three-horse Red, Blue and Pink governorship race in 2023. To Kano’s west, Katsina was a Red State from 1999 to 2015 when it moved to APC Blue corner. Jigawa started as ANPP Blue, became PDP Red in 2007 and has been APC Blue since 2015. In the extreme Northwest corner, zigzag has been the name of the game. All three states of Sokoto, Kebbi and Zamfara started off as ANPP Blue states in 1999. The first two became Red in 2007, Sokoto became Blue by defection in 2014, and became Red again by defection in 2017. Kebbi swung back to APC Blue in 2015. Zamfara was briefly Red due to the governor’s defection in 2009, returned to Blue in 2011, became Red by tragic accident in 2019, before the governor again defected to Blue. Many North East states also did political zigzag. Bauchi started off as Red in 1999, became ANPP Blue in 2007, returned to Red through defection in 2008, became APC Blue again in 2015, only to become Red again in 2019. Its spin off state, Gombe, started as ANPP Blue in 1999, became PDP Red in 2003, and returned to APC Blue in 2015. Adamawa was solidly Red from 1999 until Governor Murtala Nyako took it to Blue in 2014, but it became Red again in 2019. Taraba is the only North East state that has been Deep Red since 1999. Apart from PDP Red and ANPP/AD/AC/ ACN/CPC/APC Blue, only APGA Green, PPA Crimson and LP Cherry have ever captured some states since 1999. The most successful of them is APGA, which has ruled Anambra since 2006 and also ruled Imo from 2011 until Governor Rochas Okorocha defected to APC in 2014. Kalu’s PPA ruled Imo and Abia for only a few months in 2007 and lost them to defection, while Labour Party ruled Ondo State for nearly two terms until Governor Mimiko returned it to Red. I think the swingiest swing state was Imo which, since 1999 alternated seven times between four different parties---PDP, PPA, PDP, APGA, APC, PDP and back again to APC. You can imagine the stress on Imo’s politicians, civil servants, businessmen and traditional rulers. This slippery-slope zigzagging tells us that all but a few states in Nigeria are American-style swing states. They adroitly swing like a gibbon in the forest. Political parties, prepare for some more swings this year.

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