MONDAY 18TH JANUARY 2021

Analysts: Heirs Holdings’ $1.1bn OML 17 Deal Renews Confidence in Economy Elumelu assures communities, others of shared prosperity, economic development Peter Uzoho The investment of over $1billion by Heirs Holdings (HH) in the acquisition of the strategic OML 17 from Shell, ENI and Total, has been

described by various analysts as a positive affirmation of confidence in the robustness of the Nigerian economy.

The analysts described the deal as a welcome light on the opportunities that are available

in Nigeria, especially given the increased pessimism globally and in Nigeria.

They highlighted the credentials of Heirs Holdings as a committed indigenous business and the presence of

Transcorp, Nigeria’s largest listed conglomerate, with over 300,000 shareholders in the transaction.

According to them, the deal further demonstrates the ability of the Tony Elumelu-led

Heirs Holdings to spearhead Africa’s economic resurgence amidst the calamity posed by COVID-19 pandemic.

The deal, which was announced on Friday, saw Heirs Holdings, the leading

African strategic investor, in partnership with its affiliated company, Transnational Corporation of Nigeria Plc (Transcorp), acquiring a 45 Continued on page 9

With CBN’s Intervention, Discos' Revenue Collection in Steady Rise... Page 8 Monday 18 January, 2021 Vol 25. No 9416. Price: N250

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Concerns Mount as Schools Reopen Today Amid Rising COVID-19 Cases No protocols in place, ASUU insists Lagos schools to run second term for 61 days Arrest fake vaccines' peddlers, NMA tells FG Onyebuchi Ezigbo, Udora Orizu in Abuja and Kemi Olaitan in Ibadan As learning institutions reopen today, concerns continue to rise following an insistence by teachers that necessary measures have not been put in place in compliance with the COVID-19 protocols

established by the Nigeria Centre for Disease Control (NCDC).

Consequently, the House of Representatives Committee on Basic Education and Services has called on the federal government to postpone the reopening of schools by three months due to the increasing Continued on page 9

Uncertainty over IG’s Tenure Hampers Activities at Force Headquarters Kingsley Nwezeh in Abuja The uncertainty over the tenure of the Inspector-General of Police, Mr. Mohammed Adamu, which expires on February 1, is hampering activities at the Force Headquarters, THISDAY gathered at the weekend.

This comes as Canada pledged $10 million to support capacity building for the personnel of Nigerian Police.

There have been speculations that President Muhammadu Buhari may extend Adamu’s tenure as he elongated those of the military’s top brass since 2016.

THISDAY checks at the weekend showed that the speculations over tenure extension and possible successor have stalled official business.

Continued on page 9

EIGHTY-TWO HEARTY CHEERS...

Ekiti State Governor, Dr. Kayode Fayemi (left), and former Osun State Governor, Chief Bisi Akande; during the governor’s visit to Akande on his 82nd birthday in Ila Orangun...yesterday

FG Fixes December for Completion of Apapa-Oworonshoki Expressway...Page 5

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

FG Fixes December for Completion of Apapa-Oworonshoki Expressway Ramps up work on Lagos-Ibadan expressway

Emmanuel Addeh in Abuja The federal government at the weekend pledged to complete work by December on the Apapa-Oshodi-Oworonshoki Expressway, which was officially kicked off in November 2018 by President Muhammadu Buhari.

Speaking during an inspection of the four sections of the project, the Federal Director of Highway Construction and Rehabilitation in the Ministry of Works, Mr. Funso Adebiyi, said the road had achieved varying levels of work on all the sections.

"Overall, 61 per cent has been achieved as of today, in the first phase covering 27km of this ever-busy road project," a statement by the Director, Press, at the Ministry of Works, Mr. Boade Akinola, said.

He added: "On section 1, we have achieved about 70 per cent completion; and on section 3, we have achieved 63 per cent.

Section 4 has recorded about 41 per cent, which means work is going on in that section.

The contract for section 2 has been awarded and work would commence there soon.”

The director explained that before the intervention of the federal government through the

ministry of works and housing, the road was in a deplorable state which hindered the free flow of traffic on the road.

"But from what we have seen so far on the finished portions of the road, I want to assure you that bad days are over. We have good days here now and better days are ahead of us. So, Nigerians should bear with us.

“We are making progress and I can assure you that by the end of this year, Apapa port users would have the best road because we have made significant progress, " he explained.

Adebiyi noted that the current traffic gridlock experience on some sections of the road was not due to the construction but the illegal parking of trailer drivers on the bridge, advising that the drivers should use the trailer parks along the corridor and the newly constructed one for transit to the port.

On the economic benefit of the project, the Director of Highway, South-west, Mr. Kuti Adedamola, said aside easing traffic, the project had created about 600 direct jobs and over 1,000 indirect ones.

Meanwhile, the federal government has said that

ongoing rehabilitation, reconstruction and expansion of Lagos-Ibadan dual carriage way have reached an appreciable level of completion.

Adebiyi, who spoke during a visit to the project site at the

weekend to assess the progress of work done, expressed satisfaction with the quality of work going on at 127-kilometre project.

He explained that because of the strategic importance

of the road, which connects the northern, southern and eastern parts of Nigeria, the federal government would do all that is necessary to see that it is completed on time.

"The project is a strategic

infrastructure development of Mr. President in bridging the infrastructure gap of the nation and this demonstrates that the present administration is poised to develop our highways," he said.

Group Berates South-west FOR GRASSROOTS DEMOCRACY...

APC Spokesman over VOTE Kano State Governor, Dr. Abdullahi Ganduje, during the local government election in the state...weekend Comment on Tinubu Chuks Okocha in Abuja Tinubu Support Group (TSG) yesterday cautioned the Publicity Secretary of the All Progressives Congress (APC) in the Southwest, Mr. Karounwi Oladapo, to be mindful of his comment on the speculated presidential ambition of the National Leader of the APC, Senator Bola Tinubu.

TSG described the presidential aspiration of Tinubu as in the overall interest of the nation.

It accused Oladapo and his group of plotting to divide the APC and make it vulnerable.

Oladapo had reportedly said the party would prefer the Governor of Ekiti State, Dr. Kayode Fayemi, to succeed President Muhammadu Buhari in 2023.

He also gave three reasons why he believed that the presidential aspiration of Tinubu would not fly.

He said: "Our national leader, highly respected Senator [Bola] Tinubu, I love him because he has paid his dues but the fact remains that by 2023, he will be above 70 years of age. I cannot in all good conscience support that even if my father or my mother is contesting for president and they are above 70 by 2023 I will not support them.

“Dr. Kayode Fayemi that I am advocating for is 55 years of age, a senior youth within the bracket of the ‘sorosoke’ generation’s request; that is number one.

"Number two, when you look at the presidential arrangement of Nigeria, whether by design or default or coincidence if you look at it from 1999, you will see that we had Obasanjo, a Christian president by religion from the South. After Obasanjo, power shifted to Yar’Adua, a

Muslim from the North and power again shifted to a Christian Jonathan from the South before power again moved to Buhari, a Northern Muslim. By reasoning, one would naturally want to deduce that the next president should be a Christian Southerner.”

He stated that Tinubu is a Muslim and no Muslim has ever succeeded a Muslim according to his analysis on Nigerian history.

He said Fayemi is a Christian from the South, adding that the crown fits him.

He added that Tinubu is qualified to run on account of his being from the South, but noted that as a Muslim, the former Lagos State governor should not succeed another Muslim.

But the Head of Media and Publicity of Tinubu Support Group (TSG), Mr. Oluwatosin Johnson, yesterday accused Oladapo of mischief.

Johnson said Tinubu is currently focused on helping Buhari to deliver on his mandate.

He said: "Without sentiments, President Muhammadu Buhari is no doubt one of the greatest presidents Nigeria ever had, yet he's in his 70s; [therefore,]saying that Tinubu will soon be 70 and too old for the exalted office of the president is foolish and myopic.

"The US today elected a president full of energy to make their nation great again, and we are still here thinking the problem of Nigeria is the age of our leaders. President-elect Joe Biden is 78 years old.

"Look at Lagos today; it's a state everyone is proud to be identified with. This is happening because of the developmental blueprint made available by [Tinubu].”

APC Moves to Reconcile Abdulrazaq, Mohammed, Saraki Convenes peace meeting today

Hammed Shittu in Ilorin The National Caretaker Committee of the All Progressives Congress (APC) has initiated moves to reconcile the Kwara State Governor, Mr. Abdulrahaman Abdulrazaq; the Minister of Information and Culture, Alhaji Lai Mohammed, and the Minister of State for Transportation, Senator Gbemisola Saraki.

The crisis of confidence among the three leaders has led to a split of the party into two factions in the state, with one faction backing the governor while the other faction is supporting Mohammed and Saraki.

The apparent misunderstanding between the three leaders came to a peak when the Mala Buni-led caretaker committee of the party removed the state Chairman, Hon. Bashir Bolarinwa, and replaced him with his deputy, Alhaji Samari Abdullahi.

The governor was said to have told the caretaker committee that he could no longer work with Bolarinwa, a known loyalist of Mohammed and alleged critic of the state government.

The development led to a war of words between the two warring factions, causing disaffection among the members of the party in the state.

A group of APC leaders loyal to Mohammed and Saraki

had protested the removal of Bolarinwa after a meeting in Abuja with the National Secretary, Senator John Akpanudoedehe.

The group also kicked against the issuance of a letter of appointment to Abdullahi as the acting chairman of the party in the state.

The spokesperson of the group, Mr. Iyiola Oyedepo, had berated the action of the National Working Committee (NWC) of the party and called on the NWC to reinstate Bolarinwa in order to reposition the party.

But in a swift reaction, the governor’s loyalists, which identified themselves as Concerned Kwara APC Elders/Stakeholders, described Mohammed and Saraki as paper-weight politicians with no electoral value.

They also declared support for the APC national caretaker committee on the removal of Bolarinwa.

The Chairman of Kwara APC Elders' Forum, Mr. Kunle Suleiman, while fielding questions from journalists in Abuja had said: “Those ministers and association of failed governorship aspirants can come to Abuja to say nonsense but they are just paper-weight politicians.

They have no influence at the grassroots. Even a professor like Oba Abdulrasheed who prides himself as a former university vice-chancellor would still have to

come to the grassroots to learn.”

Another member of the forum, Senator Suleiman Ajadi, described the two ministers as presidential appointees, who lack the capability to win elections.

“Ministers are not elected officials. President Muhammadu Buhari picked them not based on their capability to win elections. If you check the pedigree of the two ministers you will understand what I am saying that they do not have the capacity to win elections.”

Addressing journalists on behalf of Kwara APC stakeholders earlier, Ambassador Nurudeen Muhammed had described the decision of the national leadership of the party as a life-saving decision.

He stated: “First, we throw our weight behind the decision of the national headquarters of our party to appoint a dogged, committed and level-headed party chieftain, Alhaji Abdullahi Samari, as the acting chairman of the party.

“This indeed is a life-saving decision for the party that had been in the vice grip of power-drunk and self-conceited individuals whose only loyalists are garrulous and selfish few whose only anger with the governor is that he did not make himself a yes-man or stooge through whom the public vault is thrown open.”

The youth groups of the

warring leaders have also been making threats to disrupt the forthcoming membership registration of the party in the state.

Sensing the looming danger to the party, the national caretaker committee, it was learnt, has decided to summon a peace meeting to discuss the matter so as to find a lasting solution to the crisis.

THISDAY gathered that the committee has convened a peace meeting in Abuja today with the two warring factions and their leaders.

THISDAY’s investigation revealed that the supporters of the three leaders of the party mobilised to Abuja over the weekend so as to witness the outcome of the peace meeting.

It was also learnt that the national caretaker committee of the party was said to have directed the two warring groups to come with at least 10 representatives to the meeting.

It was gathered that the peace meeting will be chaired by Buni.

When contacted by THISDAY, Akpanudoedehe declined to respond to calls and text messages sent to him.

But a chieftain of APC confirmed to THISDAY on condition of anonymity in Ilorin yesterday that the national caretaker committee of the party had summoned a peace meeting in Abuja for today (Monday).

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With CBN’s Intervention, Discos’ Revenue Collection in Steady Rise Soars to N44bn in September Emmanuel Addeh in Abuja The directive by the Central Bank of Nigeria (CBN) to Nigeria's deposit banks to take over the collection of revenues from the power Distribution Companies (Discos) has begun to yield positive results, THISDAY checks revealed at the weekend.

The Discos posted a record N44.5 billion revenue collection in September 2020, the highest ever recorded by the power distributors, a month after the apex bank gave the directive, it was learnt.

Before the September record, in August 2020, the month the order was given, data released by the Discos in its third-quarter summary of Key Performance Indicators (KPIs), indicated that another record was posted, with the collection of just a little less than N44 billion, another record before September.

Last year, the circular signed by the CBN’s Director of Banking Supervision, Mr. Bello Hassan, stated that all electricity collections for services provided by Discos should henceforth be domiciled in deposit money banks.

“All energy and non-energy collections of Discos, whether cash or cashless shall only be performed by deposit money banks (DMBs),” the apex bank stated.

But while the argument was that the Discos were under-remitting, the Discos maintained that the invoices received from Nigerian Bulk Electricity Trading (NBET) for electricity supplied do not account for losses in transmission and were, therefore, taking that into consideration before remitting

any funds.

With the action, the CBN hoped that that guarantor banks will take up continuous due diligence on the Discos they have guaranteed and give the monetary authority full visibility of the cash flow in the electricity supply industry.

The CBN said in the directive: “The payment or settlement of all NESI related goods or services shall be made through the Nigerian banking system.

Consequently, all collections for the payments of NESI regulated goods and services provided by a Disco shall be paid into a designated account.

“This should be done such that collections arising from services rendered by the Disco shall be paid into an account in the sole name of the Disco; collections arising from services rendered by a third party/parties on behalf of the Disco shall be paid into an account in the joint name of the Disco and the third-party vendor(s).

“Any DMB found to be maintaining any account(s) for any entity collecting payments on behalf of any Disco without appropriate authorisation shall have regulatory actions imposed on it.”

Historical figures released by the Discos through their umbrella body, the Association of Electricity Distribution Companies (ANED), showed that in September 2016, the Discos only posted just over N25 billion, in September 2017, they recorded about N28 billion, the same period of 2018 was about N33 billion while for 2019, it was less than N36 billion.

While energy bill in the 12 months preceding

September 2020 was N690 billion, the actual collection stood at N483 billion, with an outstanding N207 billion still being owed by various end-user customers.

Data from ANED showed that in all, the Discos posted N483 billion revenue between October 2019 and September 2020, an N17 billion increase in collection compared to the previous 12 months.

The average collection efficiency also rose to a record 76.28 per cent, for the Discos, including Ikeja, Eko, Abuja, Jos, Enugu, Benin, Kaduna, Kano, Ibadan and Port Harcourt.

The Discos, however, noted that the overall Aggregate

Technical and Commercial (ATC&C) losses moving average kept increasing smoothly since February 2020 from 43.3 per cent to 46.1 per cent due to the collection crisis caused by the COVID-19 lockdown.

They noted: “The Discos are back on track on their performance improvement after the fall due to the pandemic.

Indeed, in September 2020, Discos' collection reached a new record of N44.5 billion.

“In annual terms, the Discos’ revenue collection in the last 12 months (October 2019 to September 2020) reached a new record of N483 billion, which

represents an increment of N17 billion versus the previous 12 months (+3.6 per cent increment).

“Also, in Q3 2020, the collection efficiency rose to 76.28 per cent. Due to the severe impact of the COVID-19 pandemic, in particular during the Q2 2020, the ATC&C loss KPI (moving average) kept increasing and is now at 46. 1 per cent,” the Discos noted.

However, the electricity distributors expressed concerns that since 2015, there had been no significant improvement in the power generated and wheeled by the Transmission Company

of Nigeria (TCN).

According to the association, the number of registered end-users had continued to increase, currently at a rate of about 75, 000 new customers per month (+10 per cent in 2019, resulting in more than 9.7 million customers in total.

“In quarter three, the number of registered customers among the 10 private Discos passed the 9.7 million-point. However, many of them are being connected without meters and, therefore, the metering gap is close to 60 per cent, becoming one of the major challenges for Discos,” the Discos said.

DEVELOPING ROAD INFRASTRUCTURE...

L-R: Controller of Works in Oyo State, Mr. Kayode Ibrahim; Project Manager, Reynolds Construction Company, Mr. Yuri Bosman; and Coordinating Director of Highways Construction and Rehabilitation, Mr. Funsho Adeniyi, during the inspection of Oyo-Ogbomoso Highway...recently

NNPC Reports $120.49m Crude Oil, Gas Revenue in September Shutdown of NPDC facility triggers N1.2bn reduction in trading surplus Other subsidiaries post impressive results Emmanuel Addeh in Abuja The Nigerian National Petroleum Corporation (NNPC) yesterday announced a total export receipt for crude oil and gas valued at $120.49 million for September 2020.

A statement at the weekend by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, stated the figure is contained in the September 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR).

The national oil company noted that the $120.49 million crude oil and gas export receipt showed an improvement of 16.28 per cent over the $100.88 million posted in August 2020.

The report showed that out of the figure, proceeds

from crude oil amounted to $85.40 million while gas and miscellaneous receipts stood at $25.31 million and $9.78 million respectively.

The September 2020 MFOR also indicated a trading surplus of N28.38 billion slightly lower than the N29.60 billion surplus in August 2020.

The marginal reduction in surplus, according to the report was as a result of lower contribution from the Nigerian Petroleum Development Company (NPDC), which recorded zero crude oil lifting from the Okono Okpoho facility during the month due to ongoing repairs.

However, other NNPC subsidiaries namely the Integrated Data Services Limited (IDSL), National Engineering and Technical Company Limited (NETCO),

Nigerian Gas Marketing Company (NGMC), Petroleum Products Marketing Company (PPMC) and NNPC Retail posted impressive trading results recording 268 per cent, 234 per cent, 21 per cent, 422 per cent and 41 per cent trading surpluses respectively over their previous month’s performance.

In the gas sector, a total of 223.82billion cubic feet (bcf) of natural gas was produced in the month under review, translating to an average daily production of 7,460.80million standard cubic feet per day (mmscfd).

From September 2019 to September 2020, a total of 3,039.05bcf of gas was produced, representing an average daily production of 7,730.35mmscfd during the period.

Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC, the corporation said, contributed about 69.10 per cent, 20.29 per cent and 10.61 per cent respectively to the total national gas production.

“Out of the 221.91bcf of gas supplied in September 2020, a total of 140.45bcf was commercialised, consisting of 36.37bcf and 104.08bcf for the domestic and export markets respectively.

“This translates to a total supply of 1,212.17mmscfd of gas to the domestic market and 3,469.45mmscfd of gas supplied to the export market for the month.

“This implies that 63.29 per cent of the average daily gas produced was commercialised while the balance of 36.71 per cent

was re-injected, used as upstream fuel gas or flared,” the NNPC stated.

It noted that the gas flare rate was 6.66 per cent for the month under review (i.e. 492.93mmscfd compared with average gas flare rate of 5.84 per cent i.e. 439.90 mmscfd for the period of September 2019 to September 2020).

To ensure effective supply and distribution of petrol across the country, NNPC said a total of 0.59bn litres of petroleum, translating to 19.59mn litres/day was supplied for the month in the downstream sector.

NNPC added that during the period under review, 21 pipeline points were vandalised, representing about 43 per cent decrease from the 37 points recorded in August 2020.

“Of this figure, Mosimi

area accounted for 90 per cent of the vandalised points while Port Harcourt Area accounted for the remaining 10 per cent.

NNPC, in collaboration with the local communities and other stakeholders, continuously strive to reduce and eventually eliminate this menace,” it stated.

The 62nd edition of the MFOR highlights NNPC’s activities from September 2019 to September 2020.

The corporation stated that in line with its commitment to becoming more accountable, transparent and driven by performance excellence, it had continued to sustain effective communication with stakeholders through the MFOR and other reports published on its website and in national dailies.

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PAGE NINE ANALYSTS: HEIRS HOLDINGS’ $1.1BN OML 17 DEAL RENEWS CONFIDENCE IN ECONOMY per cent participating interest in Nigerian oil licence OML 17 and related assets, through TNOG Oil and Gas Limited (a related company of Heirs Holdings and Transcorp), from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI. The remaining 55 per cent stays with the Nigerian National Petroleum Corporation (NNPC). In addition, the Heirs Holdings Group will take over operatorship of OML 17, demonstrating the strength and quality of the industry team assembled by Elumelu’s group.

According to the analysts, the acquisition again shows Heirs Holdings' strategic

intent in relation to the Nigerian energy sector – to ensure that Nigerian natural resource assets are deployed to Nigeria’s power network, driving broad-based economic growth.

Speaking with THISDAY, Head of Research at Agusto Consulting, a pan-African credit rating agency, Mr. Jimi Ogbobine, stressed that looking at the wider issues in the economy as well as the disruptions caused by the COVID-19, the transaction was good for the deal book.

He said: “It shows that COVID-19 has not shut down the deal books. Since March last year, the number of deals in the oil and gas slowed down and so this deal was a good announcement coming

at the beginning of the year.

“Secondly, this is a first major private sector acquisition in President Muhammadu Buhari’s second term and it think it is very good for the Nigerian oil and gas space.

This will improve confidence in the oil and gas sector and we hope to see more deals in the later part of this year.”

Transcorp is one of the largest power producers in Nigeria, with 2,000 MW of installed capacity, through ownership of Transcorp Power Plant and the recent acquisition of Afam Power Plc and Afam Three Fast Power Limited. Transcorp closed the $300 million Afam acquisitions in November 2020.

Elumelu spoke of his satisfaction and pride in

closing the deal, as a Nigerian and Niger Delta indigene.

He stated: “As a Nigerian, and more particularly an indigene of the Niger Delta region, I understand well our responsibilities that come with stewardship of the asset, our engagement with communities and the strategic importance of the oil and gas sector in Nigeria.”

Heirs Holdings was advised by Standard Chartered Plc, as Global Coordinator, and United Capital Plc, with a syndicate of lending institutions, including Afreximbank, ABSA, Africa Finance Corporation, Union Bank of Nigeria, Hybrid Capital and global asset management firm, Amundi.

The deal also involves Schlumberger as a technical partner and the trading arm of Shell, as an off-taker.

“Heirs Holdings’ ability to bring together global and African investors, in one of the biggest African deals of the last 10 years, is a tribute to its professionalism and determination. It reassures global investors of the country’s untapped investment opportunities and affirms the company’s commitment to improving lives and transforming Africa,” one analyst said.

Heirs Holdings has been at the forefront of Elumelu’s Africapitalism philosophy, championing the private sector’s leadership in developing Africa.

TNOG Oil and Gas, HH’s latest investment and addition to a fast-growing and successful group of investee companies across energy, financial services, hospitality, real estate, and healthcare sectors, will create thousands of jobs for youths nationwide, expanding its current 30,000 employee database across its portfolio companies.

TNOG Oil and Gas will also extend Heirs Holdings’ “doing good, doing well” commitment to developing the communities of its operations through pillars of entrepreneurship, youth development and community building, pursuing an indigenous approach to catalysing development in host communities, an insider told THISDAY yesterday.

gardeners, cleaners and drivers, electricians and plumbing staff.

A source alleged that the matter had also caused a rift between the IG and the members of the police management team, who reportedly raised concerns over the sale, alleging lack of due process.

Force PRO and Commissioner of Police, Mr. Frank Mba, was yet to reply a text message sent to him on the matter as at the time of filing the report.

Meanwhile, the government of Canada has pledged $10 million funding support to increase the capacity of personnel of the Nigerian Police.

Speaking during a courtesy call on the Minister of Police Affairs, Mr. Mohammad Dingyadi, Acting Canadian Acting High Commissioner to Nigeria, Mr. Nicholas Simard, said Nigeria was a multi-faceted developing country with insecurity posing a great challenge to its growth, which he said had become worrisome necessitating his government's advocacy in upholding human rights.

"Canada was willing to support with the sum of $10milliion dollars, noting that capacity building of force personnel among other things diminishes violence," he was quoted in a statement issued by the Ministry of Police Affairs.

to last for 61 days for public and private schools.

According to the revised calendar for 2020/2021 academic session released by the Office of the Education Quality Assurance (OEQA), the second term is slated to run from January 18 to April 30.

The mid-term break has been scheduled for March 4 and 5.

There will also be two public holidays – Good Friday on April 2 and Easter Monday on April 5.

Resumption for the third term has been scheduled for May 4, while the term is to terminate August 6.

Schools have been directed to strictly follow the time table.

In another development, the Edo State government has said that the suspension of schools’ resumption is applicable to all educational institutions in the state.

The government noted that the directive will be reviewed on February 1 when the outcome of efforts to check the spread of COVID-19 in the state will be evaluated.

Secretary to the State Government, Mr. Osarodion Ogie, said in a statement that the state government is taking drastic measures to limit the spread of the virus and protect lives and livelihoods in the state.

had last Friday said it had reports of the importation of fake COVID-19 vaccines into Nigeria.

Addressing a virtual press conference, the DirectorGeneral of the agency, Prof.

Mojisola Adeyeye, pleaded with Nigerians to avoid the fake vaccines, saying: “They can cause COVID-like illnesses or other serious diseases that could kill.”

Reacting to the alert by NAFDAC, the NMA President, Prof. Innocent Ujah, told THISDAY yesterday that it expects the government to move swiftly and arrest the peddlers of the vaccines.

"You know we are a group trained to save lives and not to kill people. So, if there is a fake drug out there, there is no way we can support it. We heard that it is not true but if NAFDAC said it has a report about it, it should ensure that it does not circulate and anyone found to be involved should be arrested and prosecuted," he said.

UNCERTAINTY OVER IG’S TENURE HAMPERS ACTIVITIES AT FORCE HEADQUARTERS The situation has also triggered crisis in Lagos over the alleged plot to sell a 40room police officers’ mess in Onikan, Lagos State.

THISDAY gathered that while there was expedited treatment and movement of files relating to projects and programmes from the IG's office, official business being conducted around the top contenders for the coveted position are moving at a snail pace owing to the jostling for the coveted post.

Approvals for other business have not been backed up with the necessary funding and this development has kept most files under keep-in-view while the release of funding

for programmes is being delayed even as contenders have stepped up the lobby for the position.

A source at the Force Headquarters said: "The situation is uncertain. Things are hanging in the air. It's difficult to get approval for funding.

"While activities are fastpaced in some areas, there is a lull in other areas where the potential contenders are located. This has always been the case when a new IG is about to leave or emerge.

"Don't forget that there are also moves in the IG's camp for an extension. So depending on what the president will decide, it's a game of wits."

However, Deputy Force Public Relations Officer and Chief Superintendent of Police (CSP), Mr. Aremu Adeniran, countered the position.

"What are they saying?

Are they saying that there is no more policing? Are they saying there is no more administration? I think they are being mischievous," he said.

Meanwhile, there are allegations that the police leadership planned to sell a multi-billion naira, 40-room chalet officers' mess in Onikan, Lagos State.

Investigations revealed that several attempts by successive IGs to dispose of the property were not successful until the fresh attempt to sell it.

It was gathered that already, a private developer had started moving equipment and materials to the site.

A source said the renovation and reconstruction work was halted as the civilian staff and senior police officers were hurriedly chased out by the developer without alternative accommodation in place.

It was further gathered that the edifice also served as a transit camp for senior officers in the force over the years.

The Onikan Lagos Officers Mess contained about 40 chalets, two big halls, a squash court, lawn tennis court, a 40-room apartment being maintained by civilian cooks, bar attendants,

CONCERNS MOUNT AS SCHOOLS REOPEN TODAY AMID RISING COVID-19 CASES number of deaths attributed to the COVID-19 pandemic.

Yesterday, the virus’ confirmed cases rose by 1,444, bringing the tally to 110,387 with 89,317 discharged and 1, 435 dead.

Lagos continued to be the epicentre of the pandemic with 901 fresh cases, followed

by Plateau, 136; Kaduna, 57; FCT, 54; Ebonyi, 53; and Akwa Ibom, 52.

However, as a precaution to stem the infection rate of the virus, the Edo State government has said that the suspension of schools’ resumption is applicable to all educational institutions in the state.

In addition, the Academic Staff Union of Universities (ASUU) has insisted that the federal government must guarantee the safety of its members before lectures could resume in universities.

This is coming as the Nigeria Medical Association (NMA) has urged the federal government to apprehend all those involved in the circulation of fake COVID-19 vaccines in the country.

Clarifying the position of the lecturers on the resumption of schools today, the President of the Academic Staff Union of Universities (ASUU), Prof.

Biodun Ogunyemi, told THISDAY yesterday that the lecturers are ready to resume classes.

He, however, said the federal government and the management of the institutions are yet to conduct the necessary assessment on the state of facilities in the campuses, especially on stopping the spread of COVID-19 virus in schools.

“The lecturers are ready to commence teaching but the problem is that the government has not done much to ensure that facilities for the COVID-19 protocols are in place," he said.

According to him, members of the union are ready to work, but their safety is important and must be guaranteed, given

the fact that some prominent lecturers recently died after contracting COVID-19.

He stated that the government must go back to the guidelines on COVID-19 it issued in July 2020 for schools resumption, adding that the stakeholders’ meeting necessary for the implementation of the guidelines has not been held.

Ogunyemi explained that with physical learning not being feasible in most of the universities, which have also not put in place measures to guide against the COVID-19 pandemic, adopting the option of virtual learning may not be a viable alternative given the poor telecommunication infrastructure in many public universities for such a venture.

He said: "ASUU and its members are not against schools resumption as we are ready to work. But our position has not changed that the health safety of our members are something that we cannot toy with.

“The government must go back to the July 2020 guidelines and see whether they have been complied with by the universities.

"On our part, a careful perusal of the guidelines would show that the universities would need to do more to guarantee the safety of the lecturers and students.

"In other climes such as South Africa, laptops are provided for the students and here with 50 per cent of the students not having android phones, nothing is being done in this direction."

Ogunyemi stressed the need to assess the readiness of the universities in terms of their ability to conduct virtual teaching before resumption.

He said ASUU had made efforts to obtain the outcome of the assessment but to no avail.

He also accused the federal government of reneging on the pact to pay arrears of salaries of lecturers, as agreed before the union suspended its strike.

He explained that the government has only paid two months out of the six months outstanding and some of the lecturers are being owed up to 10 months due to earlier omissions.

"This is a source of discomfort to our members but we said that we are ready to go back and teach despite all that. ASUU is not standing in the way of resumption of schools," he said.

When asked if the university lecturers have commenced online teaching, Ogunyemi said: "Many universities are coming up with online teaching but for us to sustain the tempo there is the need to provide the necessary infrastructure.

There is no way you operate online teaching without the infrastructure being there."

House Committee Proposes Threemonth Suspension of School Resumption In a related development, the House of Representatives Committee on Basic Education and Services has called on the federal government to postpone the reopening of schools by three months due to the increasing number of deaths attributed to the COVID-19 pandemic.

The committee, in a statement by its Chairman, Hon. Julius Ihonvbere, said many states and individuals have abandoned adherence to the safety measures prescribed to guard against the spread of the virus.

The committee said the decision to reopen academic institutions was ill-timed, made recommendations to the Federal Ministry of Education on safety measures to adopt if the schools must be reopened.

The statement said: “We are particularly concerned that when the infection rates hovered around 500 and under, schools were closed

but now that it hovers well above 1,000 infections daily, schools are being reopened.

Why are we rushing to reopen schools without adequate verifiable and sustainable arrangements to protect and secure our children?”

The committee said it fully appreciated the implications of continued school closure on the education sector and the larger economy and society.

It also acknowledged that the pandemic would remain for a while, stressing that the federal government must design ways for the people to live with it.

“Similarly, we acknowledge the argument that most young persons have not been as affected by COVID-19 and many are asymptomatic. Yet, it does not mean they have full immunity against the virus.

“We also know that they would be working and interacting with adult teachers, administrative workers and other persons that do not live within the institutions," it added.

The committee noted that aside from Lagos and a couple of other states, governments are unable to enforce COVID-19 protocols as people no longer wear face masks or use hand sanitisers.

“Our position is that in spite of the very comprehensive protocols established by the Federal Ministry of Education, not up to 10 per cent of our educational institutions have implemented five per cent of the protocols. In most of our primary and secondary schools nationwide, adequate furniture, water and other sanitation and hygiene facilities do not exist,” it stated.

Lagos Schools to Run Second Term for 61 Days Meanwhile, the Lagos State Government has clarified that second term of 2020/2021 academic session is meant

Arrest Peddlers of Fake COVID-19 Vaccines, NMA Tells FG The Nigeria Medical Association (NMA) has urged the federal government to apprehend all those involved in the circulation of fake COVID-19 vaccines in the country.

NMA said the government should not waste time in arresting and prosecuting the peddlers of the fake vaccines regiment for the crime.

The National Agency for Food and Drug Administration and Control (NAFDAC)

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MONDAY JANUARY 18, 2021 ˾ T H I S D AY

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Police Confirm Killing of Four Officers By Kaduna Bandits John Shiklam in Kaduna The Birnin Gwari Emirate Progressive Union (BGEPU), Kaduna State, has commiserated with the authorities of the Nigeria Police Force (NPF) over the killing of five of its personnel in an ambush along the Birnin Gwari- Funtua Road.

Some bandits were said to have killed five policemen during an attack on Farinruwa village, Birnin Gwari Local Government Area of Kaduna State during which five policemen were feared killed.

But the Nigerian Police yesterday said four police officers were killed even as it repelled an attack launched against 16 police officers by 100 bandits at Birnin Gwari Funtua Highway on their way back to their base in Kano State.

A police statement said the police officers were attached to Police Mobile Force-9 PMF Squadron, Kano “Contrary to unconfirmed reports in some sections of the media stating that 18 officers were

kidnapped, only sixteen 16 officers were attacked in the ambush.

“The officers successfully repelled the attack accordingly and neutralised the bandits in their tens while many of bandits scampered into the bush with gunshot injuries”, it said.

“Regrettably, four of the officers paid the supreme price during the exchange of gun fire between the Police and the bandits while an officer is still missing. However, the remaining eleven officers led by their unit commander successfully recovered the bodies and firearms of their fallen colleagues while concerted efforts are being intensified to rescue the officer still missing”.

The Inspector-General of Police, Mr. Mohammed Adamu while commiserating with the families of the officers said their death shall not be in vain.

Meanwhile, the Chairman of the BGEPU, Mr. Salisu Haruna, said in a statement that was issued yesterday that the police personnel who were on a routine duty paid the supreme price in

their efforts “to safeguard our people and maintain security.”

Birnin Gwari is one of the areas ravaged by the scourge of banditry in Kaduna State.

Haruna commended the “courage and resilient of the police in the fight against banditry,

kidnapping and other crimes within the Birnin-Gwari area.

“With deep heart and grief the BGEPU commiserates with the NPF over the ambush of police personnel at Farinruwa and brutal murder of five gallant police personnel that loss their

lives during the attack on Friday, January 15, 2021.

“We salute the courage and resilient of the NPF in the fight against banditry, kidnapping and other crimes within the Birnin-Gwari general area and adjoining forest.”

The group expressed its

“heartfelt condolences on behalf of Birnin-Gwari’s emirate to the families of the five slain police personnel, the Inspector General of Police, the Commissioner of Police, Kaduna State Command and the government over the irreparable loss.”

18 Kidnapped Kano SIGNED AND SEALED… Director, Nigerian Gas Marketing Company, Mr. Faruk Usman (left), and Managing Director, Shell Nigeria Gas, Mr. Ed Ubong, after Traders Regain Freedom Managing signing a 20-year gas distribution agreement in Abuja... recently Ibrahim Shuaibu in Kano The 18 businessmen from Kantn Kwari textile market in Kano, who were abducted on their way to Aba in Abia State, have regained their freedom.

The President of Arewa Youth Traders Association of Nigeria, Alhaji Abubakar Babawo, confirmed their freedom to THISDAY in Kano yesterday.

According to him, “The 18 Kano traders, who were among the 27 traders kidnapped, regained their freedom on Saturday evening.

They slept in Kaduna but they are on their way to Kano now.

“We are expecting them today (yesterday) in Kano as we have been communicating with them.

We communicated with some of them. All of them were released, and they are fine and en route to Kano.”

The traders’ leader said the abducted businessmen were released by their kidnappers last Saturday evening.

Babawo, who confirmed that ransom was paid, however, declined to state the amount paid to secure their release.

“I cannot tell you the amount paid to secure their release, but ransom was paid before they were released,” he said.

The businessmen were kidnapped on January 10, 2021, in Okene, Kogi State, on their way to Aba, Abia State, to buy textile materials.

Gunmen Kill 80-year-old Woman, Four Others in Kaduna John Shiklam in Kaduna Five people, including an 80-year-old woman have been killed following attacks on various communities in Kaduna State.

Six others also sustained injuries during the attacks on communities in Igabi, Chikun and Giwa Local Government Areas of the state.

This was disclosed in a statement issued yesterday by the Kaduna State Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan.

Aruwan said security agencies reported the killings to the state government.

“Security agencies have reported the killing of an aged woman in Sharu village, Igabi Local Government Area.

“According to the report, armed bandits invaded the village and raided several homes. As they shot sporadically, Hauwwa Umaru, 80, was hit by a bullet and died instantly,” the statement said.

Aruwan said, “In another incident, unknown gunmen killed one Samaila Yohanna, the Ward Head of Konti, in Chikun LGA. “Also in Chikun Local Government Area, bandits killed two locals, Alhaji Sani and Malam Rabiu at Dande village”.

The statement added that, “In Giwa Local Government Area, armed bandits barricaded the road between Fatika and Kidandan and opened fire on commuters plying the road.

“One unidentified woman was killed, and three other persons were injured in the attack.”

He said, Governor Nasir El-Rufai noted the reports with sadness and conveyed condolences to the families of those killed and prayed for the repose of their souls.

Aruwan said the governor also urged security agencies to ensure diligent investigations into the unfortunate incidents.

Bandits Kill Catholic Priest, Kidnap 17Villagers in Niger Dipo Laleye in Minna Bandits have killed a Catholic Priest and kidnapped 17 persons in three communities in Bassa/ Kukoki ward of Shiroro Local Government Area of Niger State.

The Catholic Priest was identified as Reverend Father John Gbakaan Yaji, of the Diocese of Minna.

It was learnt that the Priest was first kidnapped before he was killed by the bandits.

His body was discovered yesterday.

It was learnt the priest was kidnapped on Friday night in Tufa village along Lambata-Lapai road on his way to his station after a religious meeting in Lambata.

The late Priest was kidnapped alongside his brother but the whereabouts of the brother remains unknown.

The Police Public Relations Officer (PPRO) in Niger, ASP Abiodun Wasiu, promised to get back when contacted.

Meanwhile, the 17 victims were kidnapped on Saturday night in Madagwa, Wongo and Marenje

communities.

It was learnt the bandits stormed the town at different times.

THISDAY gathered five people were abducted from Wongo and Marenje communities while about seven people were abducted from Madagwa.

The Co-convener, Concerned Shiroro Youths, Sani Abubakar Yusuf Kokki, confirmed the abduction saying that the whereabouts of the victims were not known yet.

He described the abductions

as disheartening and unfortunate, saying it was unfair the locals have been left to their fate.

Kokki lamented that kidnappings and other related criminal activities have become the order of the day in the entire Rafi and Shiroro local government areas of Niger State.

It was also learnt that 20 people from Duguru in Madaka Ward of Rafi Local Government Area on their way to Madaka market were kidnapped by bandits last Thursday.

Ekiti Relaxes Curfew, Reopens Schools Today Victor Ogunje in Ado Ekiti Ekiti State Government last night announced that the curfew it imposed on the state from 8pm to 6am, including various other restrictions, had been relaxed.

The Commissioner for Information and Values Orientation, Mr. Akin Omole, made this known in a statement in Ado Ekiti.

He said Governor Kayode Fayemi gave approval for the development.

The commissioner said the government had also ordered

public and private schools in the state to re-open for the second term of the 2020/21 session from Monday, January 18, 2021.

Omole added that the restriction of a maximum of 20 persons in confined spaces was also removed to allow half capacity of venues for all events indoors and social distance of two-meter spacing for outdoor activities.

The commissioner said restrictions earlier placed on the number of religious services had also been lifted He, however, warned that permits must be obtained from

the State COVID-19 Taskforce for funerals, weddings, birthdays, and other large social gatherings at event centers, including hotels, pavilions, fields before the events can hold.

“All activities limited to between one and two hours maximum period are encouraged to minimise infection risk.

“Government workers on grade Levels 12 and below are still excused from work until further notice,” the statement said.

He explained that the decision to reopen schools in the state was taken to avoid the negative

impacts on child health, education, and development.

Omole added that reopening schools would also enable students to complete their studies and continue to the next level without avoidable additional burdens on family income and the overall economy of the people.

He stated that random testing of teachers and students would be carried out without delay, and urged school administrators and teachers to use infrared thermometers to monitor temperature of everybody in their respective schools.

Gana’s Loyalists Kill Three Persons in Benue Community George Okoh in Makurdi Bandits alleged to still be loyal to the late notorious bandit leader, Gana, at the weekend allegedly attacked Dyom village near Senga community in Katsina-Ala Local Government Area of Benue State, killing three residents.

However, two of the armed men, who also razed several houses in the community, were arrested when men of the joint

security operation in the state codenamed: ‘Operation Whirl Stroke (OPWS)’, in a counter operation, apprehended two of them and recovered their weapons.

The Special Adviser to the state Governor on Security, Col. Paul Hembe (rtd), who made this known to journalists yesterday in Makurdi, the state capital, said the timely intervention of the OPWS personnel saved what would have been a major bloodbath in the

community.

He said the armed men had sneaked into the village and started shouting sporadically and burning down the people’s houses.

According to the governor’s aide, “These were armed men in military camouflage said to be loyalists of the late Gana. They stormed the area, shot and killed three persons as well as burnt down many houses in the community.

“Luckily, while this was going on, information reached personnel of Operation Whirl Stroke, who stormed the area and apprehended two of the armed men and also recovered their weapons, which included live ammunition, AK47 riffle and a locally made gun.”

When contacted, the state Police Public Relations Officer (PPRO), DSP Catherine Anene, said she had not received details of the incident.

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Govts, Firms Raise N4tn from Capital Market in 2020 Goddy Egene Using the trading facilities of the Nigerian Stock Exchange (NSE), governments and corporates raised about N4.015 trillion from the nation’s capital market in 2020, according to data obtained by THISDAY at the weekend.

The local bourse recorded a stellar performance last year,

soaring by about 50 per cent to lead other global markets. Investors reaped significant capital gains as most stocks hit record highs.

THISDAY checks showed that apart from individual investors, the federal government and some companies also benefitted from the market last year, as they raised various sums despite the negative impact of the COVID-19 pandemic.

The funds were raised through bonds and equity issuances.

However, the bond market accounted for the highest of capital raise as the federal government and companies raised N2.6 trillion from the bond market.

Also, companies raised N1.415 trillion through equity offerings.

The government dominated the bond issuance, accounting for over 90 per cent while in the equities space, companies raised N1.415 trillion through rights issue and mergers and acquisition (M&A).

Some of the issuers included: BUA Cement Plc, Dangote Cement Plc, Flour Mills Nigeria Plc, UACN

Property Development Company Plc, United Capital Plc, LAPO Microfinance Bank Limited and Interswitch and Axxela Limited among others.

The Divisional Head, Listings Business, NSE, Mr. Olumide Bolumole, had said as a platform for capital formation, the NSE

had products and services to support capital raising across economic sectors, According to him, the exchange is committed to educating business promoters on the alternative funding opportunities available in the capital market to catalyse business growth.

Senate Queries N98.4m Payment for PIB Enlightenment Campaign Deji Elumoye in Abuja The Senate has queried the Ministry of Petroleum Resources over the payment of N98.4 million for the printing of leaflets for awareness programme for the Petroleum Industrial Bill (PIB) without due process.

Its committee on Public Accounts has, therefore, accepted the 2015 Auditor-General of the Federation’s Report, which exposed mismanagement of public funds in the Ministry of Petroleum Resources.

The report stated that contrary to the procurement process, an entry in the cash book for N98.4 million was made in favour of a company for printing of leaflets for awareness campaign programme for the PIB. “There was no formal award of contract and it was also observed that the approval for the payment was via memo presented by the Director (Press) to Ministerial Tender Board meeting of 9th and 11th October 2013,” the report said.

The report added that the permanent secretary had been requested to take disciplinary measures against the erring officers in line with provisions of extant regulations.

But the Ministry of Petroleum, in a written response, said: “Adequate publicity was made: M/S Dangrace and Partners Limited were selected based on proven capabilities and

competence.

“It should be stated that veritable costing proposals were submitted and approved before the authorisation for the award and production of Petroleum Industry Bill (PIB) leaflets. The department complied with necessary rule and procedure.”

However, the Auditor-General in another query called to question the payment of N39.7 million to the account of two staff of the ministry for project monitoring in 2014.

The query noted that contrary to the e-payment policy of the federal government, the total sum of N39.7 million was paid to 178 staff of the ministry for project monitoring and evaluation in 2014.

“Instead of direct payment to individual accounts, the disbursement was paid into two accounts vide PV. Nos. MPR/ CAP/828/2014 and MPR/ CAP/826/2014 of 02/12/14.

“It was curious that 178 officers in the division of the ministry could be involved in project monitoring and evaluation at the same time. Other irregularities observed included duplication of officers names, duplication of locations, monitoring of projects outside the statutory purview of the ministry and its parastatals, payment of Duty Travel Allowance (DTA) and other travelling allowances to staff for monitoring parastatals located in Abuja,” it stated.

Three Suspected Armed Robbers Nabbed in Ogun The Ogun State Police Command has arrested three suspected armed robbers at a crime scene in Iju-Aga, Ajuwon, Ifo Local Government Area of the state.

The suspects reportedly left Lagos State to carry out the robbery operation in Ogun before they were arrested.

The Police Public Relations Officer in the state, DSP Abimbola Oyeyemi disclosed this in a statement issued yesterday.

Oyeyemi said the three suspects, Samuel Sunday, 20; Adeleke Mustapha, 22; and Joel Rotimi, 19, were arrested after a distress call was made to the police.

He said Sunday was a resident of Fagba in Lagos State; Mustapha lives at Ajala area of Lagos State while Rotimi resides at Taju Bello Street Agbado, Ogun State.

Oyeyemi added that the police in Ajuwon received a

distress call from residents of the Iju Aga area of Ajuwon at about 1:45 am.

According to him, the police were told that armed hoodlums numbering about six invaded the area and were dispossessing innocent members of the community of their valuables.

He said, “Upon the distress call, the DPO Ajuwon, SP Andrew Akinseye quickly led his men to the area where the hoodlums who took to their heels on sighting policemen were chased and apprehended.

“Recovered from them are a cut-to-size locally made pistol, four Bajaj motorcycles, weeds suspected to be Indian Hemp, two Voters Card and two National Identity cards.”

The PPRO said the Commissioner of Police, Edward Ajogun has ordered the transfer of the suspects to the State Criminal Investigation and Intelligence Department for a discreet investigation.

WORK IN PROGRESS...

Governor Muhammadu Inuwa Yahaya of Gombe State (left), being briefed by the Project Manager of Triacta Nigeria Limited, Mr. Imran Khan, on the progress of work, at the Gombe State University gully erosion control project site, during his tour of projects, in Gombe...recently

Buhari Felicitates With Anyaoku at 88 Deji Elumoye in Abuja

President Muhammadu Buhari has felicitated with former Secretary-General of The Commonwealth, Chief Emeka Anyaoku, as he marks his 88th birthday today.

He also condoled with the Bayelsa State government as well as family and friends of Mrs. Bolere Ketebu, over the death of the former Nigerian Ambassador to Ireland.

The president’s spokesman,

Mr. Femi Adesina, in a statement yesterday, said the president rejoiced with Anyaoku for a life that keeps him learning and growing in wisdom, knowledge and experience.

Buhari acknowledged the contributions of Anyaoku to the development of the country, starting out as a young Foreign Service officer and reaching the pinnacle of his career through vision and diligence in addition to consistently projecting Nigeria as a great nation.

The president extolled the statesmanship of the celebrant in always counselling leaders and the citizenry alike, particularly bringing a global context to issues and policies, and using his extensive network of international friends to support the country’s efforts in deepening good governance, democracy and sustainable development.

The president, in another statement, also commiserated with the Ketebu family, the Bayelsa State government as

well as friends and colleagues of Ketebu.

Buhari recalled that the deceased served her country creditably in several capacities, including president, National Council of Women Societies, Secretary to Bayelsa State Government; member, House of Representatives, and ambassador.

He, therefore, prayed that God will grant repose to the soul of the departed medical doctor-cumdiplomat, and comfort all who mourn her.

Dangote Completes Nigeria’s Longest Concrete Road Ejiofor Alike The Dangote Group has announced the completion of Nigeria’s longest rigid pavement located in Kogi State, the first of its kind.

The 43KM Obajana-Kabba road constructed by Dangote Industries Limited (DIL), as been described by motorists as the country’s most strategic highway that is aiding travelers between the North and the South.

The Project Director, Olatunbosun O. Kalejaiye, said he was excited that the Corporate Social Responsibility (CRS) project is being delivered for use by Nigerians, adding that while the rigid pavement has been completed, the company

was dressing the shoulders.

The Site Engineer, Samuel Obosi assured that the dual carriage way will be durable and less susceptible to potholes and repairs like asphalt road, adding that it would crash the rate of road accident in the country.

Motorists said it is now one of the busiest roads linking the two regions in the country.

Acommunity leader ofApa Bunu Kingdom and spokesperson for the community, Mr. Sam Omosayil commended the Dangote Group, saying that the road has attracted a lot of businesses along the road.

Traditional and community leaders eulogised the President of the Dangote Group, Alhaji Aliko Dangote.

The Bajana of Obajana Land, King Idowu Senibi described the project as gigantic and the first of its kind anywhere in Nigeria.

“Dangote is our son. We would protect his huge investment and gigantic concrete road. I am happy that this is happening in my lifetime and in my Kingdom.

This is a great opportunity for us and many generations to come.

Our society will be opened as you can see vehicles and commercial activities have started coming up.

May God Almighty bless Dangote and all his staff.”

Speaking in the same vein, the traditional head of Akpataland, Chief Frederick Durojaiye Balogun said his people were very proud of Dangote,

adding that the Dangote Cement, Obajana plant, which is the single largest cement plant in the world, has brought honour and respect to their Kingdoms.

“His presence has brought a total turnaround in our lives. Also permit me to appreciate the Federal Government for this joint effort. We are very grateful,” he said.

Speaking, the King of Okebunkuland in Kabba Bunu Local Government, Area, Timothy Omonile commended the President of the Dangote Group and charged other philanthropists to emulate him, adding that that is the only way Nigeria can develop its economy and infrastructure.

Navy Nabs Oil Thieves, Recovers 100,000 Litres of Diesel in Ondo James Sowole in Akure The Nigeria Navy said its patrol team of the Operation Base (FOB), Igbokoda, Ondo State, has intercepted six boats loaded with over 100,000 litres of Automotive Gas Oil, popularly known as diesel along Ondo/ Lagos coastal axis.

The Navy said the 24 suspected oil thieves conveying the diesel

were nabbed at Igbokoda, Ilaje Local Government Area.

The Commanding Officer of the FOB, Navy Captain Shaibu Mohammed Ahmed, who paraded the suspects, said some of the boats seized by the Navy were full of empty drums.

He said the suspects were arrested on January 13 at about 4pm along the open sea channel.

He said, “In order to effectively curb illegal oil bunkering, sea

piracy, kidnapping and other criminal activities in Ilaje and Ese-Odo Local Government Areas of Ondo State, the Forward Operating Base (FOB) of the Nigerian Navy in Igbokoda, instituted a continuous surveillance on the creeks and coastal areas.

“This effort yielded positive result, with the latest operation carried out along the Ondo/Lagos coastal axis.

“The FOB has been

professionally carrying out its constitutional responsibilities since inception in efforts to secure and curb all forms of illegalities such as illegal bunkering, piracy, sea robbery and kidnapping within Ilaje and Ese-Odo LGAs. “On this note, I am appealing to the general public, especially the communities where we operate, that security of lives and property is no longer one-man business.

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COMMENT

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

AIR TRANSMISSION OF CORONAVIRUS The virus may be in the air, writes Cosmas Odoemena

A

s the number of new cases of Covid-19 — and deaths continue to increase in Nigeria, and elsewhere in the world, it’s time to review how this disease is transmitted. Even among those that seem to observe the safety protocols, there have been infections.

Initially, the consensus was that the disease is spread by droplets that don’t go beyond six feet.

But as scientists began to beam more light on the virus, they found compelling evidence that the spread of the virus cannot be explained by droplets infection alone.

After some scientists mounted pressure on the World Health Organization (WHO), it accepted that indeed the virus could also be spread by aerosol, but that it could only occur in nebulization, intubation and other medical procedures that can generate aerosol. And added half-heartedly, that, “Further studies are needed to determine whether it is possible to detect viable SARS-CoV-2 in air samples from settings where no procedures that generate aerosols are performed and what role aerosols might play in transmission.”

Following this, the Center for Disease Control (CDC), published on its website that the virus could be spread in the air, but removed it almost immediately, saying, it was “posted in error”.

But transmission of this virus could be occurring by aerosol more than we are aware and more than the health organisations are willing to accept.

When we cough, sneeze, talk, breathe or sing, we normally release droplets, which are tiny particles of fluid, as well as aerosols, which are tinnier particles of fluid in the air.

A peer-reviewed paper published in Scientific Reports, by researchers working at the University of Nebraska discovered the new coronavirus in aerosol samples collected in the hospital room of Covid-19 patients.

One other study published in Sustainable Cities and Society was of a patient who had recovered from Covid-19 in an ICU, and had tested negative. Surface and air samples were collected in the ICU. The results from all surface samples tested negative, while that for air samples tested positive for SARS-CoV-2.

The W.H.O. calls a “droplet” a particle bigger than five microns and added that these droplets don’t go beyond one meter. The CDC uses two meters. Droplets move through the air and fall, while aerosols hang in the air longer.

From physics, a 5-micron droplet usually takes about 30 minutes to drop to the ground from the mouth of an adult who is of average height. During that time, the droplet can move many meters on an air current. Droplets released when we cough or sneeze also go much farther than a meter.

For aerosols to leave where they are produced, they have to navigate through the air, and anyone close by can get infected.

Ponder the case of a restaurant in Guangzhou, in southern China, early in 2020 where one person who had Covid-19 infected nine other people who sat at his table and two other tables further from him.

Yuguo Li, a professor of engineering at the University of

WHILE THE CONTROVERSY OVER VACCINES LINGERS, EAT HEALTHY MEALS AND FRUITS TO BOOST YOUR IMMUNITY. AVOID STRESS AND WORRY AS MUCH AS POSSIBLE, BECAUSE THEY LOWER YOUR IMMUNITY

Hong Kong, and his colleagues studied a video from the restaurant, and in an article published last April, did not find any evidence to show close contact between those at those tables.

Droplets could not have explained the transmission based on the distance they could travel, at least not for those at the other tables, because it’s expected that droplets would have reached the ground.

Those other tables were at a corner that had poor ventilation and the air-conditioner drove air towards them. Interestingly, no staff member, or those beyond the air-conditioner got infected.

There was another incident where one person was believed to have infected 52 of 60 people at a choir practice in Washington, US. Dr Linsey C. Marr, a professor of civil and environmental engineering, one of the 239 scientists who wrote an open letter to the WHO to take the airborne transmission of the virus seriously, and his colleagues looked at what happened in that choir gathering and published a preprint then, and settled that the transmission was largely due to aerosols.

Those who attended the choir event observed the safety protocols, including avoiding handshakes, avoiding hugs and used hand sanitizers which reduced the risk of transmission through direct contact. It was noted that the room had poor ventilation and the rehearsal lasted up to 2.5 hours which is considered long for a pandemic period.

Some researchers argue that because the virus is found in aerosols it does not mean there is long-range transmission.

The WHO, and perhaps those other scientists are falling back on a démodé definition of airborne transmission, where the virus needs to travel very far. It does not have to move through alleys, over mountains, oceans, and forests before it’s called airborne transmission. Absence of evidence is not evidence of absence. When it comes to human life it’s better to assume the worst case scenario.

The Infection Control Expert Group (ICEG) in Australia will be updating its advice on airborne transmission of the virus, especially from hotel quarantines to the community, more so with the entrance of the highly infectious UK Covid-19 variant.

The Nigeria Centre for Disease Control (NCDC) cannot continue to play catch up, or “follow follow”, as we call it here. Nigeria, and indeed Africa should lead the world when it comes to infectious disease. Even the world agrees we have the experience.

While we wait for the health agencies to get their act together, the key to being safe remains keeping a safe distance. One meter may not be enough. Two meters is just fine, but staying further is safer.

Mask wearing remains a game changer, if only everyone will agree to wear it. For healthcare workers it might mean the minimum type of mask to be worn should be an N-95.

Where that is not available double-masking with the surgical mask might help. r%S 0EPFNFOB NFEJDBM QSBDUJUJPOFS XSPUF GSPN -BHPT

ROLLING BACK THE FANGS OF HUNGER

Dahiru Mohammed is determined to use the platform of the Presidential implementation committee to make a difference, writes Dike Aguonye

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banker and international trade expert, Dahiru Mohammed leads the next frontier of work to tackle one of Nigeria’s most challenging problems – hunger. Strongly believing that the state of the hunger challenge in Nigeria is a result of a multi-sectoral failing, Mohammed wants a framework for tackling the problem recognizing and utilizing multi-faceted approaches. He intends to pursue a pragmatic programme that connects the dots from multiple windows to arrest the obvious gaps. President Muhammed Buhari on December 10, 2020 inaugurated the Presidential Implementation Committee on the Bilateral Agreement between Nigeria-Czech Republic with Mohammed as chairman.

The agreement aims to promote mutually beneficial scientific research and development activities including the establishment of a framework to embed applied research and innovation in public policy, business and entrepreneurship. One of the focal sectors for this agreement is in the area of agriculture and food technology. The direct feature of the two-nation agreement is on improved trade, creation of co-investment hubs to grow the economic value of vital sectors such as agriculture and food security.

The challenge of hunger is a major problem that successive governments have expended a lot of energy and investment on without fully addressing. The mass hunger scale is still one of the disturbing features of Nigeria. It is increasingly attaining an endemic national scale. For instance, the Global Hunger Index ranks Nigeria as the number 10 most hungry country in the world. Arising from this sorry position, the United Nations Children’s Fund (UNICEF) has called attention to adverse nutritional challenge among children in Nigeria, rating the country second highest population of

stunted children in the world.

This challenge, according to records, is most widespread in the states of the northern parts of the country. Noted as the most agricultural active state in Nigeria, the grave irony is that it is currently the states in the north of the country that feature exclusively among the 10 most affected states with its children’s population between 42 percent and 58 percent adversely affected by poor nutrition. The Integrated Food Security classification (IPC) and the Farming Early Warning systems (FEWS) have generated equally frightening data on the food crisis in Nigeria.

They state that 23.9 million people in Nigeria are in a condition under access to food index described as stressed while 8.5 million people in the country are currently in a food crisis with a significantly over half a million people in a condition they describe as a food emergency situation. These data present very depressing context but also offer those in the position of shaping and influencing policy a fairly complete picture of the demon they must confront.

The foregoing casts a formidable and enormous task before anyone who is desirous of reversing the shortcomings in the agricultural sector, who aims to roll back the fangs of hunger in the country must come to terms with. Part of the focal sectors the Nigeria-Czech agreement is gearing up energy to bring about a turnaround in its agriculture and food technology. In effect, it is easy with the depressing picture painted above to surmise what the derivable for a successful implementation of that agreement is as it relates to agriculture.

The Nigeria-Czech agreement for which the Presidential Implementation Committee is saddled with translating into tangible benefits on Nigerians in specific focal sectors has assured that it is not intimidated by the

weight of the problems in any of the focal sectors among which is the agricultural sector. Without doubt, for Mohammed and the members of the Presidential Implementation committee the data in that sector reflect a very disturbing reality. His team, according to him, would rather choose to see an opportunity to use the platform in their hands to reverse the ugly manifestations.

Accordingly, he is determined to use the platform of the Presidential implementation committee to activate a multi-sectoral re-energizing capability of overhauling the agricultural value chain as well as its business ecosystem. He sees a lot of work ahead in using new technology to generate fresh knowledge base as well as new skills that can productively and commercially transform the local food chain, food technology and the mass nutritional needs of Nigerians in a manner that speedily begins to reverse the ugly trend of aggravating hunger and nutritional deficiencies.

The Presidential Implementation Committee was inaugurated on December 10, 2020 at the Presidential Villa by the Chief of Staff to the President, Prof. Ibrahim Gambari on behalf of President Muhammadu Buhari. Members of the Committee include Chief of Staff to the President; a representative of the Federal Ministry of Finance, Budget and National Planning; a representative of the Federal Ministry of Industry, Trade and Investment; the head of the Nigeria-Czech Republic Trade and Investment Council who serves as the chairman of the committee and the Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure (NASENI).

President Buhari while inaugurating the Presidential Implementation Committee stated that the objective of the initiative was to actualize the core targets of the

bilateral agreement on transfer of technology, information sharing between Nigeria and the Czech Republic in relevant areas of need. The President who spoke through Prof. Gambari enjoined the Committee to swing into action by swiftly translating the vision contained in the agreement into tangible positive daily reality for Nigerians.

He expressed the hope that the impact of its work would soon show in reversing the already dire needs that reflect in the myriads of socio-economic challenges facing the country. Nigeria, according to the president, needed a sustained productive economy propelled by technology and new innovative capacity. He said that as part of the government’s response for wealth and job creation through technology transfers and adaptation from advanced countries, it had become necessary to revive the implementation protocols of the Nigeria and Czech Republic agreement.

He extolled Nigeria’s potential strategic positioning as a global market destination.

Czech Republic, on the other hand, being a formidable technology and innovation provider, makes the partnership between both nations the envy of other African countries. The National Agency for Science and Engineering Infrastructure (NASENI) is positioned to serve as a step-down agency for the technology interactions that will be activated with the Presidential Implementation.

Mohammed is a Fellow of the Chartered Institute of Loans and Risk Management, Nigeria, a member of Technical Working Group Vision 20.20, recipient of an award for Entrepreneurial and Economic Development as well as several other awards and recognitions on Cost, Profitability and Business Developments. r"HVPOZF XSPUF GSPN "CVKB

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T H I S D AY ˾ ˜ ͯͶ˜ ͰͮͰͯ

EDITORIAL

AS SCHOOLS RESUME TODAY…

The authorities must ensure that students and teachers adhere to the Covid-19 safety protocols

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ith the announcement last Friday by the Federal Ministry of Education, schools across all tiers in the country are expected to resume classes today. While we endorse the idea since schools cannot be forever shut, we hope that the resumption of academic activities is subject to strict adherence to the safety protocols enunciated by the Nigeria Centre for Disease Control (NCDC) and the Presidential Task Force (PTF) on Covid-19. The authorities must be WE MUST BEGIN TO mindful of the recent case where no fewer DESIGN METHODS FOR E-LEARNING AS IT than 181 students and staff tested positive IS THE CASE IN MOST for coronavirus at COUNTRIES ACROSS a private boarding school in Lagos. That THE WORLD speaks eloquently to the need for continued vigilance.

In the season we are in, regardless of specific exposure risks, it is always a good practice to frequently ensure that students wash their hands with soap and water for at least 20 seconds.

Besides, pupils and students alike as well as their teachers should avoid touching their eyes, nose, or mouth with unwashed hands. And in a situation when soap and running water are unavailable, the students should use an alcohol-based hand rub. School authorities must also ensure a good practice of maintaining social distancing.

This would ensure that there is always a good respiratory etiquette, including covering coughs and sneezes. The students and the teachers alike should avoid close contact with people who are sick, and when confirmed that any student is ill, the person should stay at home, or isolated if in boarding school.

The school authorities should enforce the wearing of face masks by both students and teachers as well as other school staff. This has been there in the schools as they constitute part of hygiene and elementary sciences. The only difference

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now is that adherence has become more rigid for the overall good of the school population. These health and safety protocols are intended to help prevent school exposure to acute respiratory illnesses, including Covid-19. The protocols also address considerations that may help teachers and students to avoid community transmission of Covid-19. Above all, the various school management boards including the NCDC and the PTF should ensure that there is an effective monitoring committee with sanctions for school authorities that fall short in strict adherence of the Covid-19 protocols.

In reaffirming today as date for resumption of schools, Education Minister, Adamu Adamu said the decision to maintain the resumption date was the aftermath of “extensive consultations with relevant stakeholders, including state governors, commissioners of education, proprietors and heads of institutions, staff unions and students.” He, however, tasked parents and respective institutions to ensure full compliance with Covid-19 protocols which include compulsory wearing of facemasks by all students, teachers and workers in all schools; temperature checks and hand washing facilities at strategic locations in all schools; ensuring constant supply of water and sanitizers; enforcement of maintenance of social distancing and suspension of large gatherings such as assembly and visiting days. Other protocols highlighted by Adamu include limitations in class sizes and hostel occupancy; availability of functional health clinics with facilities for isolation and transportation of suspected cases to medical facilities and adherence to all other non-pharmaceutical protocols, restrictions and containment measures as may be prescribed by the PTF from time to time.

Since the enduring lesson of the moment is that prevention is better than cure, a strict adherence to the Covid-19 protocols is important. Beyond that, if there is any lesson the pandemic has taught us in Nigeria, it is that government at all levels should begin dealing with how to revamp the education sector in line with global trends. We must begin to design methods for e-learning as it is the case in most countries across the world.

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

CHEERING NEWS FROM TONY ELUMELU

was very elated when the news broke recently of the acquisition of OML 17 by Heirs Holding and Transcorp through their sister company TNOG Oil and Gas Limited.

The 45% stake in the oil bloc was acquired from Shell, Total and Eni for the princely sum of $1.1 billion.

The oil industry – the goose that lays the golden egg for the nation is dominated by the foreign international oil companies with the indigenous players playing a mere fringe role despite decades of the product being with us.

Agreed, the credit for the first Nigerian to explore crude oil in commercial quantity goes to Mike Adenuga of Conoil and Globacom fame when he achieved the feat in 1991 after General Ibrahim Badamosi Babangida liberalized the sector. As the likes of Dr. ABC Orjiakor of Seplat are also playing big in a sector largely dominated by foreigners, it is good for the Nigerian space that Tony Elumelu was able to drive the expansion of his companies into this sector.

Tony Elumelu’s meteoric rise from grass to grace should be the subject of critical study in the world’s top business schools as he represents the can-do mentality and spirit of an average

Nigerian entrepreneur. He is a visionary who sees what the man on the Clapham Omnibus cannot envision and dares to dream in a gargantuan manner.

After his education at the Bendel State University now Ambrose Alli University in Ekpoma, Edo State, he did the mandatory National Youth Service Corps in Union Bank. He performed exceptionally well and the bank offered to retain him.

He did the unthinkable by turning down the offer and taking a huge risk in pitching his tent with the now defunct All States Trust Bank owned by King Ebitimi Banigo. The new generation banks were rather shaky as they had a very high mortality rate. Why did he take such a gamble? The Delta-born entrepreneur favoured risk and innovation over tradition.

At barely 26 he was the Port Harcourt branch manager of the bank and aggressively expanded it. Not one to rest on his oars, he was soon weary of the job and needed a new challenge. He convinced a group of investors to invest in his grand idea which led to the formation of Standard Trust Bank in 1997 with his becoming the pioneer Chief Executive Officer at 34 when many of his contemporaries were still thinking of what to do

with their lives.

Rapid expansion of the bank was his mantra and the profits of the small financial institution grew in leaps and bounds.

Like Tom Sawyer in Charles Dicken’s ‘The Adventures of Tom Sawyer’, he hankered to be part of the next big thing which led to his acquisition of the floundering United Bank for Africa (UBA) in 2005 during the recapitalization era led by the then Central Bank of Nigeria Boss, Professor Charles Chukwuma Soludo.

Prior to the UBA acquisition, the bank’s balance sheets showed that it was making massive losses and the wonder boy showed his financial re-engineering skills by leading the bank to the rebound of profitability within a relatively short space of time.

When the deposed Emir of Kano became the CBN boss in 2009, he made a law that bank CEO’s couldn’t be there for more than 10 years. In 2010, Elumelu was still very young at 47 and had been made redundant by the law. It was devastating that he had to kiss his banking passion goodbye at such an age.

Rather than slip into depression or do something rash, he decided to reinvent himself which metamorphosed in the launching of Heirs Holdings – a vehicle

enterprise to promote the ideals of his coinage ‘Africapitalism’ in various sectors of the economy. He had his hands in lucrative pies ranging from oil and gas, hospitality, power, etc. He also capped it by his becoming the chairman of the government-owned Transnational Corporation (Transcorp) which former President Olusegun Obasanjo launched during his presidency.

Always thinking far ahead of his time, he launched the Tony Elumelu Foundation with the bold ambition to train 10,000 African entrepreneurs who will in turn create one million jobs and $10 billion worth of wealth in the African continent. Such a large-hearted and public-spirited individual who always thinks about others instead of just living for himself and family!

We need more economic visionaries like Elumelu to take Africa out of the woods.

Despite the harsh operating business environment and brutal cost of doing business with miniscule infrastructure, he still brims with ideas on how to be a better social entrepreneur. He has given humane meaning to the buzzword ‘corporate social responsibility’. r5POZ "EFNJMVZJ XSPUF GSPN -BHPT

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MONDAY JANUARY 18, 2021 •T H I S D AY

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T H I S D AY ˾ MONDAY JANUARY 18, 2021

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

Amotekun: The Mistake, the Concerns and Assurances Despite concerns on recent happenings, stakeholders have expressed optimism on the operation of the South-west Security Initiative, codenamed Amotekun, James Sowole writes

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hen the six governors of the South-west states conceived the idea of establishing a regional security outfit over one year ago, it was meant to bridge the gap created between them and the security apparatus of the Federal Government.

The governors, who are Chief Security Officers of their respective states, were concerned by their inability to have control over the existing security system despite mounting insecurity in their domains.

They were concerned that due to the fact that all the security agencies, were established by the Federal Government, heads of various agencies in states, have to take instructions in most cases from the centre before responding to calls from their host, chief executives. These often resulted in delays in making quick critical security decisions.

Another major concern of the governors, was that centrally deployed security operatives, often lack knowledge of their areas of deployment in terms of language, culture and terrain, which always have negative effects on their performance during operations and even on their own safety.

Expectedly, the move by governors led by the Chairman of the South-west Governors Forum and Governor of Ondo State, Mr Oluwarotimi Aketedolu, SAN, generated controversies from various quarters and stakeholders including the Federal Government.

After several consultations and repeated assurances from the promoters of the security outfit, the idea of a regional structure, was dropped and each state was permitted to make Independent law, for the establishment of State Security Network, codenamed Amotekun.

To date, Amotekun has commenced operations in Oyo, Ondo, Ekiti, Osun and Ogun states, using unconventional strategies in tackling security challenges in their areas of operations.

One statement common to all the promoters of the security network, was that Amotekun, was not established to rival the already existing security agencies like the Police, Department of State Security Services (DSS), the Army or the Nigeria Security and Civil Defence Corps (NSCDC), but to complement them in areas of securing lives and property.

Since the commencement of operation in the states, the Amotekun Corps, have been collaborating with other security agencies in tackling the issues of kidnapping, robbery and more importantly checkmating incessant clashes between herders and farmers. The men of the security network, have also recovered weapons from suspected bandits and which their commanders, said have been handed over to the police and other security agencies.

Several cases of disagreement between herders and farmers have been resolved in states after seizures of cattle that grazed on farmland.

However, reports of untoward happenings and incidents in some states, have given rise to concerns by some stakeholders, which is now generating controversies on the operations of the security network.

In Oyo State, for instance, two separate incidents, including the injury sustained by a police constable from a weapon of an Amotekun personnel and killing of a father and his two sons, have generated controversies on the operations of the outfit.

In Oyo Town, a police officer, Fatai Yekini, was reported to have been shot by an Amotekun Corps member identified as Ibrahim Ogundele at the Sanga area

Inspecting a guard of honour mounted by Amotekun Corps

of the town on Saturday, January 2, 2021.

While Ogundele is a male officer working with the Amotekun Corps at Isale-Oyo area Yekini is a Special Police Constable attached to Ojongbodu Police Station The incident, was confirmed by the Police Public Relations Officer of the Oyo State Police Command, Mr. Olugbenga Fadeyi.

Fadeyi said that the incident happened when the police officers at Ojongbodu Division were responding to calls to dislodge some youths who were staging a carnival after several warnings against staging any carnival.

In another incident on the same Saturday, January 2, 2021, a septuagenarian, Usman Okebi and his two sons, were allegedly killed in a fight between some officers of the Amotekun Corps and some herdsmen in Aiyete, Ibarapa North Local Government Area of Oyo State.

It was also gathered that many houses were razed during the incident.

The Seriki Fulani in Igangan area, simply named Saliu, alleged that the Amotekun Corps, had stormed the Fulani compound in the area and started shooting at some people without any reason .

Confirming the incident,The Police Public Relations Officer, Oyo State Command,

Mr Olugbenga Fadeyi, said investigations into the case had commenced.

These two incidents, may have informed the warning issued by the Nobel Laureate, Prof Wole Soyinka, that the promoters of Amotekun should do everything possible to ensure that Amotekun did not become another Special Anti Robbery Squad (SARS).

Soyinka, without mentioning a particular incident, while featuring on an ARISE Television programme, advised that the personnel of the Western Nigeria Security Network, Amotekun, should be trained frequently to prevent them from turning into another SARS. According to him: “Community Policing like Amotekun is a recognition of the fact that the civic part of the entire national polity has got to wake up in not just its own defense but survival.

“I have told them anytime you want us to come and assist, we will come even if it is just on the ethical session so that as you are training them to defend us, we are also training their minds so that Amotekun does not become another SARS, very important.

We must do everything together.

“It is about time the public examined itself; what are we made up of? Are there

Amotekun operatives were invited by the police to join hands with them to dismantle a carnival stage.

The carnival was held against the earlier warnings to the organisers by the police. The carnival stage was dismantled unchallenged, but after this, the gun which Ogundele Ibrahim carried, discharged accidentally and hit the community police officer in the thigh. The cause of this (accidental discharge) has not been known.’Yekini Fatai was rushed to the General Hospital in Oyo town where he was treated and has been discharged. I want to state categorically here that there was no feud of any kind between Ogundele Ibrahim and Yekini Fatai to have warranted shooting him

those among us who, if they got into power, will behave exactly as those kinds of agencies which we are repudiating and against which we are protesting? There is absolutely no excuse for the brutality that occurred in the wake of the noise, rumour, reality of people being shot at the Lekki tollgate.”

Apparently concerned by the controversies that the two incidents, have generated, the Oyo State Security Network Agency, had reacted to the two cases explaining what transpired on the day and its resolve to work in line with the objectives of setting up the organisation.

In the first incident that involved alleged shooting of a police constable, by its officer, Ibrahim Ogundele, Amotekun said he did not intentionally shoot the police constable, Yekini Fatai.

In a statement, the Commandant of the security outfit in the state, Colonel Olayinka Olayanju, (Rtd.), said the officer’s action was not intentional.

Speaking in a statement issued through Ayolola Adedoja, spokesman for the security outfit, Olayanju said Amotekun Corps were invited by the police to join them in dismantling a carnival stage, which the police had warned against.

Olayanju said in the process, the Amotekun officer’s gun accidentally discharged and the bullet hit the policeman in the thigh.

He said, ‘Amotekun operatives were invited by the police to join hands with them to dismantle a carnival stage. The carnival was held against the earlier warnings to the organisers by the police.’

“The carnival stage was dismantled unchallenged, but after this, the gun which Ogundele Ibrahim carried, discharged accidentally and hit the community police officer in the thigh.

“The cause of this (accidental discharge) has not been known.’Yekini Fatai was rushed to the General Hospital in Oyo town where he was treated and has been discharged.’

“I want to state categorically here that there was no feud of any kind between Ogundele Ibrahim and Yekini Fatai to have warranted shooting him.’”

He lamented that Amotekun had come under unfair criticisms despite the efforts of the agency to make the state safe.

T H I S D AY ˾ MONDAY JANUARY 18, 2021

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MONDAY DISCOURSE

Akeredolu

Makinde

Oyetola

Abiodun

Reacting to various comments and reports on alleged clash between Amotekun and Fulani in Ibarapa, Okeogun, the Commandant said that there were no clashes between his men and Fulani herdsmen in Ibarapa land and Oke Ogun axes of Oyo State.

The Commandant, who addressed newsmen in Ibadan, said that his men launched six operations in four local government areas, but that the team in Aiyete was attacked inside the forest by suspected bandits, three of whom were killed by his men.

According to him, the operations were fully supported by Fulani leaders living in the areas, adding that a number of Miyetti Allah members were part of the operations.

The Commandant, further revealed that its operatives raided the forests of Ibarapa and Oke Ogun areas of the state in the early hours of Saturday to rid the areas of kidnappers and criminal elements.

Olayanju, who equally paraded one of the suspected kidnap kingpins, Sanni Bello, said he was arrested in the forests around Aiyegun axis in Iwajowa Local Government Area, adding that the Amotekun worked closely with officials of Miyetti Allah, whose family members have equally suffered kidnapping in recent times.

The statement by the Amotekun Commandant also indicated that the operation around the foresr was embarked upon following incessant reports of killings and kidnapping in the area.

The statement said: “Contrary to any report you might have come across, there was no clash whatsoever between Fulani herdsmen and Amotekun in Ibarapa or Oke Ogun axis of Oyo State.

“What happened was that we launched clearance operations in different locations around the thick forests of the four local governments that have suffered kidnapping and wanton killings in recent times.

“When our men entered the forests at Aiyede, they were attacked and a gun battle ensued, which led to the death of three of the attackers. One of our men sustained injuries.

“It was not a clash with the Fulani, because Fulanis were part of the planning of the operation and we raided the forests together.

“We were in touch with Seriki who is the leader of the Fulani in the area. Even after our men were withdrawn on Saturday afternoon, we got reports that some Fulani were kidnapped in one location close to the area of operation. So they are working with us, because they are also victims of the dastardly acts of kidnapping in the area.

“The incessant kidnapping and wanton destruction of lives necessitated the planning of a clearance operation in Lanlate, Igbo Ora, Igangan, Iganna and Aiyegun general areas in Ibarapa East, Ibarapa Central and Ibarapa North as well as Iwajowa Local Government Areas.

“There were six teams in all comprising members of Amotekun, Vigilantes, Hunters and Miyetti Allah Vigilante.

“All the six teams had elements of these groups (joint team). However, at Igbo Ora, one of the teams had an encounter with two armed men, effected their arrest and recovered one double barrel rifle.

“All suspects and weapons were handed over to the Divisional Police Officer, DPO Magoro Police Station, Igbo Ora at about

9 a.m. on Saturday.”

Also reacting, the Oyo State Government described all noise n the operations of Amotekun in the state, as lies and attempt to demonise the security organisation.

Mr Jide Ajani, the Special Adviser on Media to the Oyo State Governor, Mr Seyi Makinde, said many comments, were meant to discredit successes recorded

by Amotekun and create tension.

He said: “There have been allegations of extrajudicial killings levelled against the security agency. “ Some of the allegations were ‘Seven people, including a man and two of his sons, were killed after officials of the state chapter of Amotekun clashed with gunmen in Aiyete, Ibarapa North Local Government area of Oyo state. ‘in December, its operatives killed a student it claimed was an armed robber.

On January 4, a policeman was shot by Amotekun corps in Sanga area of Oyo town.”

But acting on the criticisms that have trailed the corps, Ajani said those “weaponising ethnicity” against Amotekun are seeking to destroy it.

He said the narrative circulating about the clash in Ibarapa is misconstrued and targeted at distracting Makinde.

“Why are some people weaponising ethnicity against Amotekun’s onslaught in its war on criminals? Do they want to destroy it? They will fail.

“The people pushing false narratives simply want to distract Governor Makinde.

They are wrong and totally miscalculating because it is a faulty narrative. Weaponising ethnicity with a view to destroying Amotekun will meet a solid brickwall and it will, also, not work,” Ajani said in a statement.

Speaking on the advice of the Nobel Laureate on the operations of the Amotekun, the Ondo State Commissioner for Information and Orientation, Mr Donald Ojogo, said the alarm, was a valid one coming a from no less a personality than Professor Wole Soyinka.

He said: “All the same, the duties of the outfit shall be, and are indeed measured in line with the Law setting it up.

“The point of getting to the sorry state of SARS is out it. We wont allow Amotekun to get there. Please be reminded that here we have a Governor whose flair for the Rule of Law is sacrosanct and unhidden.

“Our outfit is being managed by a leader whose credentials are unequivocally highly respected ; and we hope to benefit from his wealth of experience without abusing the rights of innocent citizens.”

Speaking in the same vein, the Commander of the security outfit in Ondo State, Chief Adetunji Adeleye, said the advice was a good one, considering several controversies that came up before the outfit was finally set up.

Adeleye, who highlighted several achievements of the outfit since it took off in the state, said Amotekun personnel in the state were well trained and deployed in line with the law that set up the organisation.

According to him, there had been single case of brutality on the part of the corps, since inception in the state.

He noted that guidelines on the operation of the agency and discipline have not and would not be compromised.

He said Amotekun Corps have arrested over 120 suspects in its ‘Operation Clean Up’ exercise.

The Operation Clean Up according to him, was launched in response to armed robbery incidences in Akure and other parts of the state.

While stating that the OperationCleanup of Amotekun, had led to reduction in crime and criminalities in the state, the commander,said the suspects were handed over to relevant agencies for further investigations and prosecution.

He said: “During Operation Clean-Up, we arrested about 120 suspects and some of the criminals were sent to the police, some to the NSCDC and others to the Department of State Services for more diligent investigation and prosecution.

“Initially, we started general security

operatiions with other security agencies until after the #EndSARS protests when there was an upsurge in criminal activities in the state and Amotekun launched Operation Clean-Up. “We recorded over 15 robbery cases in Akure within one month, which had not happened before. We appealed to the state government to impose a ban on the use of motorcycles at night and the government acceded to it.

“In the Operation Clean-Up, we have a full detachment of policemen going out with us on patrols because we know the interior, they only follow. When we get to where we need superior weapons to be used, they assist us.

“In Ondo State, we don’t have problem of rivalry or working at cross purposes.

There are no clashes of interests because most of our operations are in concert with them and other security operatives.

“There were instances, like in some kidnap cases that we burst, where we got our coordinates from the DSS. They give us this vital information, we put it on the table, analyse and we implement.

So far, it’s been successful.

He said 560 farmers have reported cases against herdsmen and modalities were put in place for the farmers and herdsmen to agree on some terms.

“We make sure the herdsmen write undertaking that they will not go back to farmer’s farm again. If we found weapons on them, it’s a separate case which shall be taken be handed over to Civil Defence or the police,” he said In an interview with THISDAY, a Public Affairs Analyst, Mr Theo Adebowale, neccessary supports should be given to the security outfit for it to succeed and achieve the purposes for which it was set up.

He said: “My views are that Amotekun should be given all statutory and community support to showcase it, to communicate approval of members of community. Government of various states of the South-west, that put it together must show courage and come out to give it the neccessary finance. Not only finance, but must provide adequate logistics and provide adequate training for the personnel.

“By doing this, that will even justify the clamour for community policing because if there is no enthusiasm from the Federal Government, the state governments could muster neccessary support and courage to make a success of it, then it will become evidence, that there is a place for community policing and that we can handle it very well.

On recent happenings in Oyo State, Adebowale, said such thing is not new but everything should be done to prevent it.

He said: “Such thing should be expected occasionally. Even with the regular police do make such lethal mistake sometimes.

What that demands is that there should be adequate training in the handling of firearms so that they could get neccessary skills to handle the firearms at their disposal.

“It also means that they should be supplied equipment so that they would have access to it and get used to it and it becomes part of their outfit so that they can handle it more dexterously. So, I do not see that as a serious thing to disqualify them from carrying firearms and carry out their operations.”

Reacting to various comments and reports on alleged clash between Amotekun and Fulani in Ibarapa, Okeogun, the Commandant said that there were no clashes between his men and Fulani herdsmen in Ibarapa land and Oke Ogun axes of Oyo State. The Commandant, who addressed newsmen in Ibadan, said that his men launched six operations in four local government areas, but that the team in Aiyete was attacked inside the forest by suspected bandits, three of whom were killed by his men. According to him, the operations were fully supported by Fulani leaders living in the areas, adding that a number of Miyetti Allah members were part of the operations. The Commandant, further revealed that its operatives raided the forests of Ibarapa and Oke Ogun areas of the state in the early hours of Saturday to rid the areas of kidnappers and criminal elements

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T H I S D AY ˾ MONDAY JANUARY 18, 2021

POLITICS

Ndubuisi Kanu: Thinker, Soldier, Sailor, Activist Segun James looks at the life and times of Rear Admiral Ndubuisi Kanu as an activist and his quest for a better Nigeria

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ome people are guided by reasons, fact, reality and crunchy scrutiny of questions and answers to give. To them everything must be measured, reasoned out and if questions were asked, they are ready with the answers. These were the hallmarks of Ndubuisi Kanu, a thinker, soldier, sailor and activist for a better Nigeria.

Rear Admiral Ndubuisi Kanu was all of these and more, in all, he excelled, but it was as an activist that he derived the most pleasure.

After the June 12, 1993 election that saw the victory of Chief Moshood Abiola,the activist in the retired Admiral came to the fore. At great personal risk and as leader of the prodemocracy group, NADECO, he confronted the military regime of General Sani Abacha, a former colleague who had assumed the garb of a tyrant.

Since he left the service as an Admiral, he has epitomized the saying of retired but not tired. To him Nigeria must leap beyond its present situation. It was a goal he spent his life trying to achieve as an activist.

By 2016, Kanu had become very despaired, despondent and alarmed with the goings-on in the country. It was clear that Nigeria has serious problems. The vast country of contrasting landscape and diverse people had suddenly become divided; especially along ethnic and religious lines. The people became sensitive to issues of governance and the direction which President Muhammadu Buhari, another former colleague in the military is leading the country.

This was a rapid reversal of fortune.

Over the preceding decades, the development of the nation’s politics was fueled by nationalistic fervour but the situation changed and things became dangerous.

To him, Nigeria was no longer on track.

This prompted the activist him. He became an advocate for restructuring the country along fiscal federalism. Although Kanu was political, he was never a politician. He never belonged to any party and will always say it as it is without fear or favour.

Unlike other countries where retirement is a time to rest, for Kanu, it was another call to duty in the service of Nigeria. Outsiders often have fixed ideas of Nigeria: a big poor country with shambolic governments, dreadful infrastructure, and corrupt politicians. This may be annoying, but it is dreadfully true. Kanu insisted that this narrative can be changed in his lifetime, but unfortunately, that was not to be as he succumbed to an ailment which his wife blame on the Nigeria’s poor medical system, one of the infrastructural decay that he spent his retirement years trying to correct.

Following his death, Lagos State Governor, Mr. Babajide Sanwo-Olu, said the state government would participate fully in all the programmes leading to the final burial of the former governor.

He said the state has set up a four-man committee led by the Commissioner of Information and Strategy, Mr. Gbenga Omotoso, to work with the deceased family and other stakeholders to immortalise and give late Kanu a befitting passage of exit.

Speaking during a condolence visit to the family’s residence in Victoria Island, Lagos, Governor Sanwo-Olu who was accompanied by his deputy, Dr. Obafemi Hamzat; the Secretary to the Lagos State Government (SSG), Mrs. Folasade Jaji; Chief of Staff, Mr. Tayo Ayinde and some members of the State Executive Council, described the late elder statesman as a detribalized Nigerian.

“He (Ndubusi Kanu) was a man that I personally had come to respect. He was a man that had supported our government from day one. He was a man that I personally respect, not because he is no more with us but he had been to my office on two occasions and had attended all of

Kanu

our events as a pillar of support.

“He was completely detribalised. He was a builder and a brother from across the Niger. He was a true Nigerian that we all need to celebrate. So, that is why we are here humbly for and on behalf of the government and people of Lagos State to reassure you that the State is solidly beside you in this time of grief.

In the same vein, the Governor of Abia State, Dr. Okezie Ikpeazu described the death of Rear Admiral Ndubuisi Kanu (Rtd) as a huge loss to the people of Abia State and Nigeria.

Governor Ikpeazu noted that the late Naval Officer was a great son of Abia State who excelled in every aspect of life.

“From his military career where he served meritoriously in the Navy to his appointment as member of the Supreme Military Council in 1975, to his appointment as the first Military Governor of the old Imo State in March 1976, Military Governor of

Lagos State in 1977, amongst others, the Admiral’s life exemplified the best ideals of public service”.

Governor Ikpeazu recalled the sterling contributions of the Late Admiral as Military Governor of the old Imo State including the establishment of the old Imo Broadcasting Service (IBS) in 1976.

“Upon his retirement from the military”, Ikpeazu continued, “Kanu emersed himself in pro democracy struggles and made massive contributions to the fight for the entronement of democracy in our country through his involvement with NADECO. The democratic rule we enjoy today in Nigeria is one of the fruits of the sacrifices made by Kanu and other compatriots”.

The Governor noted further that the Late Rear Admiral Ndubuisi Kanu never forgot his roots and made solid contributions to the political development of Abia, his home state. He was a huge reservoir of experience, knowledge and wise counsel which

To him, Nigeria was no longer on track. This prompted the activist him. He became an advocate for restructuring the country along fiscal federalism. Although Kanu was political, he was never a politician. He never belonged to any party and will always say it as it is without fear or favour. Unlike other countries where retirement is a time to rest, for Kanu, it was another call to duty in the service of Nigeria

he gladly placed at our disposal as leaders of the State. His death has robbed us of one of our greatest sons. He was a proud son of Abia State and an outstanding Nigerian with impeccable credentials”.

The Governor sends his personal condolences and those of the entire people and Government of Abia State to the family of the Late Admiral and assures that the State Government will liaise with the family and other stakeholders to ensure that he receives a beffting farewell.

Sanwo-Olu told Kanu’s immediate family, “We and other stakeholders are right beside you because he was not just a man for one part, he was a national figure. We will work with other stakeholders to ensure that we immortalise and we give him a befitting passage of exit out of this world.”

The Governor recalled that “Rear Admiral Ndubuisi Kanu was one of those that laid the pillar of what we benefit today as the military governor in 1976. And most importantly, his contribution to what we are now benefitting in the country, which is democracy; because if people like him were in short supply, this country will not be like this.

“People like him, even though they are not many, stood firm. They went through all sorts of terrible things but they were good men. So for us in Lagos, we celebrate his life because we know that only God will live forever and that, we as human beings will come and exit the world at some point. But what is important is, what do you do with your life? I think we can say it boldly that our father lived a good life.”

Sanwo-Olu described the the death of the chairman of the National Democratic Coalition (NADECO) and former Military Administrator of Lagos State as big loss to the state and the nation.

Kanu, an elder statesman and leader of NADECO died at the age of 77.

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

Commemorating the Armed Forces Remembrance Day Chiemelie Ezeobi writes that the annual Armed Forces Remembrance Day, a day which is set aside to celebrate fallen heroes who died in the line of duty, also presents an opportunity to review the welfare of officers and men of the Armed Forces

President Muhammadu Buhari releases the pigeon

President Muhammadu Buhari laying the wreath

Vice President Yemi Osinbajo laying a wreath in honour of the nation’s fallen heroes

President of the Senate, Ahmad Lawan and Speaker of the House of Representatives, Femi Gbajabiamila laying wreaths in honour of the nation’s fallen heroes

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he 10th line of Nigeria's National Anthem reads thus; 'the labours of our heroes past, shall never be in vain'. To mark this, the Armed Forces Remembrance Day (AFRD), is commemorated every year, on January 15, as a day set aside to celebrate the fallen heroes, who died in the line of duty while fighting to ensure the territorial integrity of the nation, whether on land, air or water is not breached or tampered with.

This year is no different. As the nation marked the remembrance day, one thing remains the crux- the welfare of soldiers and men, who are at the forefront in the war against insurgency in the North-east, herdsmen killings in the Middle-belt, Militancy in the South-south and other pockets of violence that has been rocking the nation simultaneously.

History According to Wikipedia, in Nigeria, the Armed Forces Day, also known as Remembrance Day, is celebrated every January 15. It was formerly celebrated on November 11 of every year to coincide with the Remembrance Day (Poppy Day) for the World War 11 veterans in the British Commonwealth of Nations, but it was changed to January 15 in Nigeria in commemoration of the surrender of Biafran troops to the federal troops on January 15, 1970, thus concluding the Nigerian Civil War that sought to tear apart the unity of Nigeria.

Significance The Armed Forces Remembrance Day celebration as an annual event organised to honour members of the Nigerian Armed Forces who fought for the nation, and those who served or are still serving in various peace support operations worldwide, as well as those who fought in the Nigerian civil war, is quite significant.

This is because the day is mapped out to celebrate both the dead and the living heroes, including all those who suffered various deprivations as a result of wars. Annually, this national day celebrates military personnel including the Nigerian Army, the Nigerian Navy, the Nigerian Air Force and the

Nigerian Legion. They all converge on different centres across the nation to celebrate the day and give honour to the fallen and living heroes who risked and continue to risk their lives for the territorial integrity of the nation.

The event is held at the federal, state and local levels where either serving military officers reside or where living ex-service men occupy.

Symbolisms In commemorating the day, several military traditions are strictly adhered to. Whether marked at the federal, state or local level, some symbolisms are sacrosanct and they include the release of pigeons to symbolise peace, placing of wreaths, playing of the last post, Remembrance Day parade, shooting of guns. Besides the above listed, the event also witnesses religious services in both mosques and churches nationwide.

At the parades, the military personnel are usually kitted in diverse colours typical of their services be it navy, air force, army or ex-service men.

Welfare of Troops Another burning issue that the AFRD usually throws up is the welfare of soldiers, especially those deployed to the battle front. Each day, reports filter out about the increasing disenchantment of soldiers in the war front.

In virtually all the areas where soldiers are battling the Boko Haram insurgency, the main complaints have been the inadequate welfare packages, obsolete weaponry, weak tactics and strategy, amongst others. Unsurprisingly, this has led to low morale among troops, especially with the recent resurgence of Boko Haram, whose stock in trade now is to invade military bases and units.

Expectedly, with the recent wave of terrorists who seemingly have more sophisticated weapons than the troops, cases of soldiers going awol abound. From past reports, the soldiers had often complained that the terrorists have night vision goggles, rocket-propelled grenades and bomb-resistant armoured personnel carriers and trucks.

Sadly, in most attacks on military bases, these

terrorists often make away with military equipment and even weapons to boost their armoury.

Another major demands by the soldiers is that of their sleeping conditions and food. According to them, they often sleep in the open air because of the inhabitable nature of their make-shift tents. On the quality of meals, they lamented that it was poor to state the least, in addition with the lack of potable water they are forced to drink.

In all these, they noted that they might have made do if only their allowances are paid as at when due, a claim that the military authorities have refuted countlessly.

Outline As part of activities outlined for the commemoration, the next line of action is usually the Nigerian Legion Humanitarian Day. This event involves community service by the veterans as well as empowerment of widows and orphans of fallen heroes.

The next move is usually the emblem launch by the president at the Council Chambers, State House, Abuja. The launch sets things off in motion as the sale of the emblems begins nationwide and the proceeds of the sale of the remembrance emblem are deposited to the Nigerian Legion, a body of veterans.

From then to January, underground preparations remain in full swing, which often culminates into the Jumma’at Service at the National Mosque, followed by an inter-denominational service at the National Christian Centre, Abuja. All these events take place simultaneously in all the states.

On the AFRD proper, the wreath laying ceremony, which is the peak of the celebration, the president and other dignitaries lay wreath at the National Cenotaph in Abuja while other symbolisms . This was also done simultaneously by governors in their respective states.

The Nigerian Legion One of the highpoints of each AFRD is the prominence given to the Nigerian Legion, an association of ex-servicemen, i.e former members of the army, navy and air force.

The legion was established for the veterans because after retirement, they often discover that there are no jobs for them. Thus, the legion helps them to integrate into society. The law also backs them to operate certain businesses in order to raise money for its members, or serve as security guards at government establishments or raise money through the sale of AFRD emblems.

Prelude A while back as October 2020, the federal government set the ball rolling in preparation for the event. President Muhammadu Buhari the inaugurated 2021 Armed Forces Remembrance Emblem and Appeal Fund with an appeal to Nigerians to desist from actions and comments that could jeopardise the unity and progress of the nation.

According to Buhari, this year’s occasion reminds Nigerians of the need to guard jealously the unity of the nation which was won at great cost, adding that ‘‘Nigeria’s strength lies in her diversity’’, just as he honoured the memory of the nation’s fallen heroes and veterans, recounting their sacrifices during the First and Second World Wars, the Nigerian Civil War and Peace Support Operations around the world.

He also paid tribute to men and women currently engaged in internal security operations, particularly the ongoing fight against insurgency, terrorism and banditry in some parts of the country, just as he lauded the members of the armed forces for remaining steadfast in the difficult task of restoring peace and security despite the COVID-19 pandemic. ”We honour the memory of our gallant officers and men who have paid the supreme sacrifice in order to keep the country united as one entity.

The nation remains grateful for the efforts and sacrifice of the Armed Forces especially in the fight against insurgency and other internal security challenges confronting Nigeria,” he added.

Still at the prelude of the d-day, Buhari had lent his voice in clamouring for support not just for the armed forces but also for the legion. He had called on other corporate organisations to borrow a leaf from the noble initiative as government

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FEATURES

Minister of Defence, Bashir Salihi Magashi and Chairman, House of Representatives Committee on Defence, Babajimi Benson

Tribute to fallen heroes alone cannot satisfy all the needs, given her limited resources.

AFRD 2021 At the AFRD 2021, President Muhammadu Buhari; Vice President Yemi Osinbajo; the service chiefs and other top government officials laid wreaths at the National Arcade, Abuja. Buhari had earlier inspected a guard of honour mounted by combined Army, Navy and Air Force personnel before laying the wreath.

Vice President Osinbajo was next to lay the wreath after Buhari followed jointly by President of the Senate, Dr Ahmad Lawan and Speaker of the House of Representatives, Hon Femi Gbajabiamila and Chief Justice of the Federation, Justice Tanko Mohammed. The president later signed the Remembrance Anniversary in the company of Osinbajo, the leadership of the National Assembly and the service chiefs.

Presidential List of Military’s Achievements Despite the inherent challenges facing the welfare of troops, the Presidency has listed the achievements of the military in the on-going fight against insurgency and violent crimes as part of measures to mark the AFRD. Special Adviser to the President on Media and Publicity, Mr Femi Adesina, who listed the achievements in a special write up tagged: “Security Checklist: as Nigeria marks Armed Forces Remembrance Day’’, said as the milestone is marked this year, it also provides opportunity to chronicle current landmark achievements by the military in tackling security challenges across the country.

On internal security, he said: ”Boko Haram is much weaker today than in 2015 as attested to by the Governor of Borno on Dec. 6, 2020 when he said: ’From state-wide statistics on affairs in the 27 Local Government Areas since 2011, the fact is that in spite of recent happenings, the security situation in Borno State and indeed that of the entire North East sub-region is still far better under Buhari, and this is based on records. ’For instance, unlike the years before Buhari when a number of local governments were nogo-areas, we now have indigenes safely back to Gwoza, Askira-Uba, Dikwa, Ngala, Monguno, Kukawa, Damboa, Konduga, Mafa and led by our traditional leaders, which no one could have visited not to talk of living there. ’Our Emirs were all in exile. Today, Bama is coming back to life and so is Askira-Uba, Damboa, Gwoza and others. Life is even returning to Baga.

This was impossible before Buhari. In fact, it was not possible to move few kilometres out of Maiduguri. Insurgents were so bold to attack and take over military facilities, like the Army Barracks at Monguno, Bama, Giwa Barrack and Multinational Joint Task Force Headquarters at Baga, to mention just a few. There were daily bomb blast in many parts of Maiduguri, the most populated part of the state, but all these have stopped under President Buhari. These are the records and no one can dispute them‘.”

Highlighting defence headquarters coordinated operations from March 18 to December 30, 2020, Adesina said they neutralised 2,403 criminal elements (terrorists, bandits, kidnappers, cattle rustlers, etc.) across the country, adding that it was in addition to scores of other terrorists and armed bandits killed during air strikes.

He said: “Troops also rescued a total of 864 kidnapped victims across the country. In addition, a total of 9,684,797 litres of stolen diesel and 33,516,000 litres of kerosene were recovered.

Equally, 1,910 criminal elements were arrested and large cache of arms, ammunition and equipment were recovered during the period. Furthermore,

L-R: Chief of Air Staff, Air Marshal Sadique Abubakar; Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas; Chief of Army Staff, Lieutenant General Tukur Buratai and Chief of Defence Staff, General Gabriel Olonisakin saluting the Commander-in-Chief of the Armed Forces, Muhammadu Buhari a total of 46,581.8 barrels of stolen crude oil and 22,881,257 litres of stolen petrol were recovered by the troops of the Armed Forces of Nigeria.“ Giving a sectorial breakdown of the successes, he said in the North-west 5,281 livestock, 6,951 rounds of ammunition and 120 assorted rifles were recovered from bandits by the gallant troops in the zone. ”Also, 455 kidnapped victims were rescued and 473 armed bandits killed. 461 arrests were made in the zone including high profile bandits, gun runners and bandits’ collaborators, while a total cash of N6,365,550 was recovered from bandits and their informants,” he added.

In the North-east he said: “200 kidnapped victims were rescued by troops of Operation LAFIYA DOLE. A total of 1,385 rounds of ammunition, 45 grenades as well as 95 assorted rifles were recovered from BHT/ISWAP fighters. In addition, several gun trucks were captured, while some others were destroyed during air strikes. 1,805 insurgents/terrorists including commanders were killed by troops aside scores killed through air raids/attacks. Additionally, within the period, 79 arrests were made including high value targets.“ In the North-central, he said troops of Operations SAFE HAVEN, WHIRL STROKE and THUNDER STRIKE rescued 130 kidnapped victims, and 105 assorted rifles as well as 513 rounds of ammunition and 1,055 rustled cattle were recovered from armed bandits and other criminal elements in the zone. ”1,250 criminals including family members of the Darul Salam sect were arrested within the period. Furthermore, troops neutralised 125 bandits including militia gang leaders,” he added.

In the South-south, he said a total of 8,890,300 litres of stolen diesel and 33,516,000 litres of kerosene were impounded by troops of Operation DELTA SAFE. “Troops immobilised 185 illegal refining sites, 85 dugout pits and 163 metal storage tanks within the period. Additionally, troops impounded 31,236.8 barrels of stolen crude oil as well as 12,272,652 litres of stolen petrol from oil thieves in the zone.

“Also, 47 kidnapped victims were rescued, while 72 vandals and criminals were arrested.

A total of 4,250 bags of 50kg foreign parboiled smuggled rice were impounded and 45 boats engaged in illegal activities were impounded.

Troops also arrested 53 pirates, impounded 25 trucks and recovered 23 rifles, 65,330 rounds of ammunition and destroyed 23 pirate camps,” he noted.

In the South-west, Adesina said “Troops of Operation AWATSE in the South-West Zone between March 18 and December 30, 2020,

impounded 10,458,600 litres of petrol; 15,345 barrels of stolen crude oil and 345,000 litres of stolen diesel.Additionally, troops recovered 3,594 rounds of ammunition and 14 assorted rifles.

Also, within the period, 23 illegal refining sites were immobilised, while 15 boats and 23 trucks engaged in illegal activities were impounded.

In the same vein, within the period 35 kidnap victims were rescued, while 48 arrests were made.“ The presidential aide while outlining the North-east security achievements between 2015 and 2020 said: “Specifically, in the North-east, the Armed Forces have since 2015 recorded significant achievements in the fight against terrorism. The first actions of the Buhari Administration in that regard were revitalisation of the Multi-National Joint Task Force comprising Nigeria and her neighbours; Relocation of the Military Command and Control Centre to Maiduguri in June 2015 and launch of Operation Lafiya Dole in July 2015.

“Since then, several towns and villages have been reclaimed from Boko Haram; thousands of hostages have been freed from terrorists’ enclaves, and tens of thousands of displaced persons have been resettled. Several Boko Haram leaders have been killed or arrested, and the arrest of Khalid al-Barnawi of the Ansaru splinter cell brought an end to the terrorists’ tight grip on North Central Nigeria.

“The federal government is investing heavily in military hardware, including 23 new aircraft that have already been delivered and inducted into service, while another 18 manned aircraft and eight Unmanned Combat Aerial Vehicles (UCAVs) are being awaited, in 2021/2022. This is in addition to attack boats, patrol vessels, armoured tanks and so on. The Army established ‘Special Mobile Strike Teams’ in the Northeast, while the Air Force has established or is establishing new bases in various parts of the Northwest and North Central (Benue, Nasarawa, Taraba, Zamfara, Kaduna, and Katsina).“ Stating that there was significant developments that show the progress in Borno State and the North-east, Adesina said El-Kanemi Warriors Football Club returned to their home base in Maiduguri in April 2016, two years after relocating to Katsina State because of insurgency; public secondary schools resumed in Borno on Monday Sept. 26, 2016, after two years of closure; capture of Boko Haram’s operational and spiritual headquarters, “Camp Zero’’, in Sambisa Forest, in December 2016.

Following this, he added that ”the Nigerian Army conducted its Small Arms Championship

from March 26 to March 31, 2017 in the forest, a measure aimed at enabling the Armed Forces to dominate the area, and avoid regrouping by terrorists.

“Chairman of the Christian Association of Nigeria, Borno State Chapter declared the 2017 Easter Celebrations as the best and safest since 2009.

Arik Air resumed flights to Maiduguri in May 2017, three years after suspending operations to the city.

Nigerian Military reopened Maiduguri-BamaBanki Road in March 2018, four years after it was seized by Boko Haram.

“Hundreds of thousands of displaced persons have returned to their homes and communities across the Northeast, since 2015. Tens of thousands of hostages have been freed from Boko Haram captivity, including 106 of the Chibok Girls abducted in April 2014, and 105 of the Dapchi Girls abducted in February 2018”.

Giving highlights of Operation Swift Response (partial border closure) between August 2019 to December 2020, he said the operation was launched in August 2019 and coordinated by the Office of the National Security Adviser has now transformed into Nigeria’s Joint Border Patrol Team as part of a Tripartite Operation, comprising Benin, Niger and Nigeria.

He listed their achievements to include “1,401 irregular migrants arrested, total seizures of 159,506.7 (50kg) bags of parboiled foreign rice; 10,447 bags of NPK fertiliser used for making explosives; 1,974 vehicles; 895 motorcycles; 18,690.3 jerry cans of vegetable oil, among other seized items. The total monetary value of the seized items is about N12,538,333,545.50.”

Coming to this year, he said some of the achievements include the new Nigerian Air Force (NAF) acquired land to be used as an Operational Base in Gwauruwa Village, Funtua, in Katsina State.

The new base will translate into increased security coverage and reduced response times for effective air operations against bandits in the area. Also, the NAF has commenced construction of a base for its newly-established unit, the 203 Combat Renaissance Group (203 CRG), in Gombe. The base will host some of NAF’s newly-acquired armed drones (UCAVs).

In Yobe, he said Operation TURA TAKAIBANGO was launched by the military as a subsidiary operation of Operation LAFIYA DOLE on January 7, 2021 and on January 9, 2021, troops of Operation TURA TAKAIBANGO identified and encircled a Boko Haram ambush site in Gujba LGA of Yobe, killing 28 Boko Haram terrorists, destroying one Boko Haram Gun Truck with its occupants, while capturing another gun truck. Also captured were 2 Anti-Aircraft guns, 13 AK 47 rifles, four extra magazines and a Vulcanising Machine.

Furthermore, he said the NAF on January 2, 2021, conducted a Joint Combat Search and Rescue (CSAR), Special Forces and Air Police K-9 Simulation Exercise at Rijana Village along Kaduna-Abuja Highway. The exercise, codenamed “TAIMAKO YAZO”, was aimed at simulating tactics, doctrine and synergy amongst first responders for effective CSAR operations of downed aircrew or other NAF personnel who have had to eject or abandon their aircraft in emergency situations.

“The ability to rescue crew from hostile environments is particularly important as it can be adapted for anti-kidnapping operations as was recently done by the NAF in concert with other security agencies in the rescue of all the 344 kidnapped boys of Government Science Secondary School, Kankara, and Katsina State. The Air Force will conduct a total of six of these exercises between January and June 2021, mostly in the Northwest, particularly in Zamfara and Katsina States,” he concluded.

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MONDAY JANUARY 18, 2021 •T H I S D AY

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

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Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

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S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

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Quick Takes EEDC Promotes Staff

HONOUR WELL DESERVED

L – R: Chief Executive Officer (CEO), Nigerian Stock Exchange, Mr. Oscar Onyema; President and Chairman of Governing Council, Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Mr. Bode Ayeku; and Registrar/CEO, Mrs. Taiwo Ganiyat Olusesi, at the 2020 conference, luncheon and awards organised by ICSAN in Lagos…recently

Report: Nigeria’s Health Sector Has $10bn Annual Deficit Obinna Chima Nigeria’s health sector has an estimated annual deficit of $10 billion, according to a report

by Northcourt, a real estate investment solutions company.

The report revealed that Nigeria imported $1.45 billion pharmaceuticals in 2019, which was a 182 per cent increase yearon-year, with demand still on the increase due to the pandemic.

The real estate firm stated this in its 2021 Nigeria Real Estate Market Outlook, obtained recently.

“The demand for healthcare in Nigeria has never been in doubt. Supply however has been lacking, requiring updated policies and innovative financing. The Nigerian government is prioritising healthcare projects,” it stated.

According to the Lagos-based firm, the Nigerian real estate market has had to switch gears due to the disruption caused by the pandemic.

Strategic asset management will be central to positive yields in 2021, it stated, adding

ECONOMY that technology and disruptive service delivery models would be key going forward.

The structural changes accelerated by COVID-19 are likely to continue, it added.

It noted that the office market will lose some ground to residential, which is growing It noted that due to COVID-19, the nation’s outdated infrastructure was once more in the spotlight, saying that e-Commerce, logistics and warehousing experienced significant growth as opportunities were uncovered.

It anticipated recovery in the market for co-working spaces earlier than the market for grade A office.

“Grade B+ and residential to office conversions with rentals under $350psm seemed unaffected by the challenges affecting the demand for office space. Student accommodation and religious uses were also affected – the former a bit more than the latter due to the academic staff union’s strike.

“Economic challenges suggest that meeting occupation obligations might be challenging.

Projects are now more deliberate in their conception, emphasising rigorous data analyses. They are more likely to succeed,” it stated.

The report pointed out that year 2020 reinforced the need to make property portfolios more resilient, stating that price shifts as a result of the pandemic led to a focus on currency protection mechanisms. Furthermore, it predicted that the pause on large retail developments would continue, stating that they are unlikely to be feasible from a return’s perspective.

“Short let apartments have shown much resilience as they represent a sustained demand for flexible accommodation. As some retailers have exited the market, others are reassessing their footprint. Construction costs have increased due to challenges with the global supply chain.

“Most planned projects will likely be put on hold as the sector reconfigures into the form most fit for long-term viability.

Increased demand for short stay apartments and flexible office space near major residential areas as occupiers come to terms with their new lifestyles,” it added.

Continuing, in the residential sub-sector, the report showed that the preference for one-bed and 2-bed flats topped the list of property types in demand within Lagos, Abuja and Port Harcourt.

The report listed security, stable power, privacy and good roads as common must-haves.

It stated that to reduce costs, businesses had begun cutting down on office floor space since 2018 and were losing share to the then growing co-working space service providers.

“This trend is likely to be interrupted given that some employers are finding that not all functions perform efficiently remotely. Few companies are expected to close their offices altogether even as the pandemic evolves.

“Others may need more space for their employees who come in Continued on page 26

Equities Investors Gain N552bn as Market Rebounds Goddy Egene The stock market rebounded last week recording a gain of N552 billion after declining in the first week of the year.

After posting a record growth in 2020, profit-taking by investors made the market close with a decline of 0.37 per cent in the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and N78.7 billion in market capitalisation in the first week.

However, the market recovered in the second week with the market capitalisation adding N552 billion to close at N21.530 trillion while the NSE ASI rose by 2.63 per cent to be at 41,176.14. The growth followed

CAPITAL MARKET renewed demand by investors who are cherry-picking stocks with attractive dividend yields ahead of full year 2020 dividend declarations.

The week was highly bullish as the number of price gainers and value of trading outperformed the previous week’s performance. For instance, investors staked N32.725 billion on 3.447 billion in 30,327 deals last week compare with N19.867 billion that was invested in 3.394 billion in 26,808 deals the previous week. Also, 60 stocks appreciated last week as against 50 stocks in the previous week.

Analysts said the market will

remain bullish in the short term as investors position for dividends declarations.

“We expect the bulls to retain dominance in the market given positioning for FY 2020 dividends amid negative real returns in the fixed income market even as we do not rule out intermittent profit-taking. However, we advise investors to take positions in only fundamentally justified stocks as the weak macro environment remains a significant headwind for corporate earnings,” analysts said.

Meanwhile, a look at the activity chart showed that the Financial Services Industry led with 1.714 billion shares valued at N13.352 billion traded in 15,102deals, thus

contributing 49.74 per cent and 40.8 per cent to the total equity turnover volume and value respectively. The Construction/ Real Estate Industry followed with 768.131million shares worth N4.203billion in 430deals, while the third place was occupied by the Conglomerates Industry, with a turnover of 279.799 million shares worth N578.694million in 1,199deals.

Trading in the top three equities namely: UPDC Real Estate Investment Trust, Mutual Benefits Assurance Plc and Transnational Corporation of Nigeria Plc accounted for 1.224 billion shares worth N4.459billion in 929deals,

The Enugu Electricity Distribution PLC (EEDC) has recognised 521 staff of the organisation that performed exceptionally well in their respective areas. This was part of its commitment towards rewarding excellence and hard work.

A statement from the organisation signed by the Head, Corporate Communications, EEDC, Mr. Emeka Ezeh said that the move demonstrated the organisation’s belief in staff motivation and welfare.

Ezeh, confirmed that 54 staff of the organisation who were in acting positions had their appointments confirmed, 408 received step increases, while 59 were promoted to the next level.

“These staff were selected after the completion of the 2019 performance appraisal exercise carried out by the various Departmental Heads, followed by a critical review of each staff’s performance by the Performance Management Committee, with their recommendation to the Executive Management Committee, and final approval of the Board of Directors,” Ezeh stated.

Hefurtherexplainedthatin2017,EEDCadoptedthePerformanceManagement system as a means of measuring and evaluating the performance of its staff, in line with their respective Key Performance Indices (KPIs).

This allowed every staff to be objectively assessed by their supervisors at the end of the appraisal period, based on their KPIs. The management of EEDC, through a memo signed by the Acting Head of Human Resources, Nkiru Chukwuma, congratulated the affected staff and encouraged others to keep putting in their best towards the progress of the organisation.

More Winners Emerge in Trophy Promo

Four more millionaires have emerged from the Trophy ‘Honourable To’ Gba’yi’ Promo, the organisers have announced in a recent statement.This is coming few weeks after a 29-year old photographer, Oluwatobi John emerged the first N1 million winner of the campaign.

According to the statement, the new millionaires were: Olashinle Adeleke, aLagosresident;AbdulOkunade,IjebuOde,basedinOgunState;aswellas Chidozie Anyanwu (40) and Endurance Ukanwa (32), both based in Abuja.

Adeleke, a bus driver, said he was skeptical at first, but became excited when it dawned on him he had truly won N1 million.

Anyanwu,whoisanICTexpert,andUkanwa,whorunsayouthempowerment organisation, also reportedly expressed their excitement when they got a call fromTrophy Ambassador and ex-Super Eagles player, Joseph Yobo, that they won N1m each.

In the statement, the Marketing Manager,Trophy, Bamise Oyegbami, said five more millionaires were still expected from the promo, which ends this month, sayingTrophy consumers still stood a chance to win any of the prizes on offer“Winners will emerge via weekly draws and go home with cash prizes of N5,000 and N10,000, while lucky winners of N1,000,000 will beannouncedfollowingnationallytelevisedweeklydraws,”Oyegbamisaid.

Amazon Union Election Starts February

Amazon.com Incorporated’s first United States union election since 2014 isscheduledtobeginwiththemailingofballotsinearlyFebruaryandavote count starting March 30, a US labor board official said in a filing on Friday.

The announcement, according to Reuters, brings employees at Amazon’s fulfillmentcenterinBessemer,Alabama,astepclosertodecidingwhether tojoinpartoftheRetail,WholesaleandDepartmentStoreUnion(RWDSU).

A “yes” vote would mark the first-ever for a U.S. Amazon facility.

Unions have had greater success organising at Amazon elsewhere, such as in France, where they precipitated a month-long closure of its warehouses last year.

As of January 7, Amazon employed almost 6,200 hourly workers at the warehouse,accordingtothefiling.Towin,theunionneedsasimplemajority of those who submit ballots.

While Amazon had preferred in-person voting, the labor board sided with the union on a mail-in procedure, “because this is the safest and most appropriate method of conducting an election in view of the extraordinary circumstances presented by the COVID-19 pandemic,” the filing said.

America’ssecond-largestprivateemployerafterWalmartInc.Amazonhas long avoided unionisation, and it has trained managers to spot organising activity.

“We encourage businesses to review their business model; to look at how they can forge ahead in the midst of all the challenges COVID-19 has imposed. That is also yielding results plus the fact that people are also looking for opportunities” DG, LCCI,

Continued on page 26

Muda Yusuf

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BUSINESSWORLD REPORT: NIGERIA’S HEALTH SECTOR HAS $10BN ANNUAL DEFICIT to accommodate social distancing. Overall floor space may not increase as fewer individuals come into the office and the demand for private offices could also rise as employees may be reluctant to work in open plan arrangements. For some industries, however, work-fromhome (WFH) could become a more permanent feature.

“The larger open spaces associated with sub-urban office parks is perceived as a healthier environment and also tend to be significantly less expensive.

Companies now retain their core office space in central business districts while allowing nodal office structures and flexible WFH opportunities “Analysts suggest that demand could return as companies seek short-term leases for employees working remotely. Building designs that are not conducive to changing working preferences stemming from social distancing practices, could become obsolete.

“It will require investments ranging from changing floor plans and redesigning common areas combined with increased janitorial hours, improved air filters, touchless lighting control, faucets, and automatic doors,” Northcourt noted.

EQUITIES INVESTORS GAIN N552BN AS MARKET REBOUNDS

contributing 35.52 per cent and 13.63 per cent to the total equity turnover volume and value respectively.

Japaul Gold & Ventures Plc led the price gainers with 56.7 per cent, trailed by Mutual Benefits Assurance Plc with 50 per cent. Royal Exchange Plc chalked up 47.8 per cent, just as AXA Mansard Insurance Plc garnered 34.4 per cent. Champion Breweries Plc gained 32.3 per cent.

Other top price gainers included: Regency Assurance Plc (32 per cent); Coronation Insurance Plc (30.9 per cent); Academy Press Plc, Niger Insurance Plc, and Sovereign Trust Insurance Plc appreciated by 30 per cent apiece.

NEWS

Operators Anticipate Special Exchange Rate for Airlines Chinedu Eze Airline operators are expecting that the federal government may review the exchange rate at which they purchase the dollars in order to sustain their operations.

This, is expected to enable them pay for aircraft maintenance, spare parts acquisition and major trainings in foreign currency.

This hint was dropped by the Managing Director of Medview Airlines, Alhaji Muneer Bankole at the weekend in Lagos, saying that reviewing downwards the exchange rate for airlines would be key to their survival. He noted that the high airfares introduced by the domestic operators was due to cost at which they purchase the dollar.

“It is unfortunate that the dollar is about N485 in the parallel market. That is number one cause of the hike in airfares.

But now, there is a review on the ground based on the interest of government to make things better for the benefit of all Nigerians,” he said.

Bankole who commended the federal government for removing VAT from air transport said it would help to bring down airfares, remarking that things would work better for the industry if the exchange rate were reviewed for the operators.

“The removal of VAT was for the benefit of everybody. I was there as member of Airline Operators of Nigeria (AON) during the negotiation. That is the factor

that affected the cost of tickets.

Fares come down because of the removal of VAT, which was paid by the passenger, so travellers are the beneficiaries,” he said.

On his part, the President of Aviation Round Table (ART), industry think-tank group, Dr. Gbenga Olowo, reiterated the call for the merger of airlines in order to enhance large economy of scale and for the airlines to have high capacity and be able to compete effectively with major

airlines in the world.

Olowo, who commended the plans by some investors to set up new airlines said they should never be damped by the devastating impact of coronavirus in the industry, saying that as long as there is life airline business would continue to thrive.

“We should never stop progress.

There are the old, the new and the now and the future. That is the challenge of now. Looking at the sector, our airlines are not

too strong.

“We have said it enough that they should merge. I hope the sense in merger will come to play with the new ones; otherwise they will continue to parasite one another and at the end of the day, none of them may survive in another 10 years given all the constraints on ground now COVID-19 challenges and all that.

“I hope we just don’t have airlines on paper; we want real airlines. We have been talking that

we don’t want airlines with two aircraft. We want airlines with 30 aircraft and it is doable. We have been talking about it again and again.

“Me alone syndrome in Nigeria has been the challenge and this me alone, die alone will not help the sector. We need machinery that will bring these airlines together. That would make the country to be proud of two, three strong airlines in the matter of speaking,” Olowo said.

FG Pumps N1.62bn into Community Works Project to Boost States’Economy James Emejo in Abuja The Minister of State for Agriculture and Rural Development, Hon. Mustapha Shehuri, has said that the federal government’s Extended Special Public Works Programme (ESPWs) will inject about N1.62 billion into states and Local Governments Areas (LGAs) across the country as well as boost their respective economies.

Speaking during the official flag- off of the programme in Maiduguri, Borno State, he said 27,000 unemployed youths and

women across the 27 LGAs of state would benefit from the initiative currently administered by the National Directorate of Employment (NDE).

According to the minister, the project, “will cost the federal government the sum of N1.62 billion as direct allowance to be paid to the participants across the nation.

“The socio economic effects of this quantum of money going directly into the local economy of the communities cannot be over-emphasised”.

In a statement by the Chief

Information Officer, Federal Ministry of Agriculture and Rural Development, Mr. Ezeaja Ikemefuna, Shehuri said the initiative was aimed at cushioning the economic effect of the COVID19 pandemic, create jobs and promote the maintenance of critical infrastructure at the community levels in all the 774 LGAs across the country.

Specifically, he said the programme would create 774,000 jobs for unemployed youths and women across the country with the recruitment of 1,000 youth per LGA as well as engage them

in various community work that will benefit their respective communities.

The minister explained that the programme was formally flagged off at the national level on January 5, on behalf of the federal government by the Minister of State, Labour and Employment and Chairman, NDE Board/ Supervising Minister of NDE, Mr. Festus Keyamo.

According to him, the federal government implemented the pilot special public programme in the rural areas of eight selected states which included Borno adding that

the pilot programme engaged 5,000 unemployed persons- 1,000 / LGA in 5 LGAs of the state.

He said the success recorded from the implementation of the pilot programme convinced President Muhammadu Buhari to expand the initiative to cover all states of the federation.

The said the NDE had created massive jobs through its four core programme for indigenes of Borno and assured participants that “we will monitor your progress on the job to ensure that resources are judiciously committed to the programme “.

NCS Onne Command Generates N118.9bn Revenue Eromosele Abiodun

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

The Port Harcourt Area ll Command of Nigeria Customs Service (NCS) has announced that it generated a total of N118.95 billion in 2020.

The command in a statement added that it also made seizures with a total duty paid value of N1.008 billion.

Area Controller of the command, Auwal Mohammed, in a statement on the activities of the command in 2020, said the command achieved its highest monthly collection of N13 billion under his watch despite challenges of Covid-19 and the #EndSARS protests that affected businesses.

He also commended terminal operators at the port for their support towards increased revenue and efficiency.

The Controller added that plans to install scanner in Onne would increase the command’s productiv-

ity, efficiency and capacity to detect concealments faster “In the face of several challenges that impacted on shipping and port activities last year, our operatives were resilient, being at work always, even during the Covid19 Pandemic outbreak and the nationwide lockdown that followed. We thank our Comptroller General, Col. Hameed Ibrahim Ali (Rtd.), for providing the result oriented leadership that has helped us to excel in many ways.

“Last year, our command collected a total of N118.95 billion.

This figure is N11.62 billion higher than the N107.33 billion collected from January to December of 2019. This increase in collection is a fallout of due diligence and zero tolerance for compromise on the part of our officers and men, who were always at work in full observance of the Covid-19 protocols - hand washing, use of hand sanitisers, wearing of

masks, avoiding handshakes and strictly observing physical distancing, “he said.

He added, “It is worthy of note that under my watch, the Command achieved N13 billion naira monthly collection for the first time in its 37 years history. On enforcement and anti-smuggling, we made a total of 37 seizures with total duty paid value of N1.00 billion.

“Two suspects were arrested in connection with some of the seizures which are: 6,249,900 tablets of tramadol, 5,615 kegs of 25 liter of vegetable oil, 817 bags of 50kg of Rice, 3,047 bales of second hand clothing, 86 bales of used hand bags, 35 bales of used shoes, 1,460 pieces of used tyres, 6,500 pies of Aluminum zinc, 1,738 cartons of foreign soaps, 650 pieces of canvas, 2 units of Hiace bus, 3,440 pieces of donkey hides/skin, 67 bales of fabrics, 8 units of truck, 331 pieces of unprocessed wood,

76 pieces of doors, 641 bags of white cements 18. 110 pieces of car fan and 100 pieces of motor radiator among others.”

He said the command recorded a total quantity of 2,577,803.31 metric tonnes of cargoes with free onboard value (FOB) of $63,497,688.03.

“We also recorded N278.88 million under the Nigerian Export Supervision Scheme (NESS). We have strengthened our relationship with Importers, exporters, freight forwarders and other port users whose function interface with NCS in Onne Port. Within the period I took charge, I have met with them separately and collectively even as we all have resolved to consolidate on our relationships in the interest of the government and our economy.

“We have seen marked improvement in compliance level continual promotion of due process in all we do. Our

engagements have reinforced the promotion of ease of doing business, trade facilitation with emphasis on sincere declarations as a way of saving time and making legitimate profits.

“I must put on record that we have enjoyed very robust inter agency collaboration with sister government agencies like the Nigerian Navy, Nigerian Army, Nigeria Police Force, Nigeria Immigration Service, Department of State Service, National Agency for Food Drug Administration and Control, National Drug Law Enforcement Agency, Nigerian Ports Authority and Standards Organisation of Nigeria. Our relationships have resulted in information sharing, crime prevention, promotion of national economic interest and security, “he said. He informed stakeholders, particularly port users that compliance was vital for seamless cargo clearance, exit, import and export.

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Chidoka: Policy Inconsistency Stifling Investments Managing Director of Kairos Capital, Mr. Sam Chidoka, in this interview says investors should be cautiously optimistic about 2021, even as he anticipates a rebound in the productive economy from the end of the second quarter of this year. He also touches on a wide range of issues including the 2021 budget and how the government can block revenue leakages. Obinna Chima brings the excerpts:

W

hat are your expectations from the financial market and the economy in 2021?

For us at Kairos Capital, 2021 is cautiously optimistic.

We had envisaged that 2020 was going to end in a negative Gross Domestic Growth (GDP) growth for the country and would have adverse effects on many companies, especially those in the productive economy and those also in the trading economy. That was based on the coronavirus pandemic.

But 2021, the first quarter and most of the second quarter would most likely go same way with 2020. We are going to begin to see a rebound in the productive economy from the end of the second quarter 2021, leading to the third quarter, as more and more people are vaccinated and we have more ways of dealing with the pandemic. That is because this is a health pandemic that has affected the economic base of the whole world at large. Now, for some industries, 2020 was a fantastic year. For example, if you are in delivery, 2020 was a good year for you; but if you are in aviation, 2020 was a bad; if you are in hospitality, 2020 was a bad year, but if you are in logistics and haulage, 2020 might have been a good year. If you are also in the business of lending, 2020 wasn’t actually bad because what happened was that when people lost their capital base, they went back to borrow more money. So, I would say that for 2021, we would be cautiously optimistic. All the lessons learnt in 2020, should be used in 2021 to keep businesses, households and individuals afloat.

For the capital market, in terms of new listing and capital raising, do you foresee an improvement this year compared with what we saw last year?

So, I will divide that into two: There is the equities side and the debt side. On the equities side, not so much is expected because what has happened is that when people make investments, they do so from monies that are not needed to run their lives. So, the extra income is what people invest. So, do people have the liquidity to make the investment today? Not a lot. So, if you are going to do an equity raising, it is probably going to be a struggle. But, on the debt side, a lot has happened. So, the Central Bank of Nigeria’s (CBN) policy has reduced interest rate across the yield curve. And if you look at the last quarter of 2020, there were lots of debt issuances. So, that is going to continue this year. In the first quarter you are going to see much more debt issuances because today rates are very low and people are trying to take advantage of that. So, you are going to see that in the first and second quarters 2021. But, on the equities side, you are not going to see a lot of listings, initial public offerings and public offers, because valuations are still low. Intrinsic values of companies are still quite low regardless of the fact that the Nigerian Stock Exchange (NSE) did a 47 per cent return for 2020.

Following the outbreak of the pandemic, we saw the exit of foreign portfolio investors (FPIs), which was crucial in stabilising our forex market. What should be done to attract this class of investors once more?

So, what happened during the pandemic was flight to safety. As soon as it happened, what people did was to take their funds to places that they are very comfortable with.

So, it wasn’t just about Nigeria, it happened across the world. But for Nigeria it was worse because of policy flip-flop. If you run a country and people are not certain that if they go to bed today, when they wake up tomorrow there wouldn’t have been a change in policy that would materially affect their business, then you are going to have a major issue. So, I actually prefer foreign direct investments (FDIs) as against FPIs.

Chidoka But what happens to most economies is that you get FPIs and then FDIs outflows. But if you want both to come back, whether FPIs or FDIs, you are going to put policies in place that people can bet on. You know if people are taking money out of their economy to invest here, you are know they are taking a currency risk. So, if you take decisions that affects any of the forex windows, if people can’t come in and leave when they want to, definitely nobody will want to invest here.

And remember, there is competition across the world; there is competition among frontier markets; developing markets and even more matured markets for investments. So, whilst

We are going to begin to see a rebound in the productive economy from the end of the second quarter 2021, leading to the third quarter, as more and more people are vaccinated and we have more ways of dealing with the pandemic

Nigeria may think we are a beautiful bride, it depends on who is looking at the bride.

We have Ghana just next door, putting their acts together and looking for investments.

You have Ethiopia, you have Rwanda, India and other frontier markets who are putting their acts together and naturally flows would go to those countries. So, for Nigeria, I think that we need to be more consistent with policies and even policies have to change, we need to do stakeholders’ engagement.

What form of stakeholders’ engagement?

So, if you have people who have invested in your economy and you want to change a policy that will affect their investment, you need to engage the people to know whether you need to give them time to turnaround their investment or whether it is something you can do in the immediate term. There needs to be engagement with the people. You can’t ask people to put their money in your economy and when you want to take decisions that affect their investment, it is one-sided. It doesn’t work. If not, you can stay within your economy and just invest among yourselves.

But you have to realise that no nation is an island. Money must be able to come in and leave the country. So, policy flip-flops is one of the major things affecting us as a nation.

Insecurity is affecting us as a nation as well because sometimes these FPIs are looking to invest in your equities and the equities of those companies, if there is insecurity at

the places where they are doing business, then the returns don’t add up anymore. So, you have insecurity that is affecting you as a nation and more so, if you add the fact that as a country, anytime we are facing an election, two years before that election, everything is about the election. So, there is a political risk and we may start seeing that from next year. So, these are some of the things we need to take into cognisance in taking decisions.

What is your assessment of the components of the federal government’s 2021 budget?

Again, I think that budgeting in Nigeria is done because we have to it. If we have to be realistic, I can’t remember the last time we were able to fund our budget. We have been operating on a deficit budget cycle for a long time and it progressively got worst.

If you look at our budget, you will find out that we do 100 per cent recurrent because we have to pay salaries and overheads, and debt service 100 per cent performance because you have to pay your debt. But, if you look at the capital side, you will see something like 40 per cent performance, which in normal parlance is F9. So, I think that once again, we have come up with a budget that we cannot fund. Something happened recently CONTINUED ON PAGE 28

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CHIDOKA: POLICY INCONSISTENCY STIFLING INVESTMENTS that is good for us and I am hoping that we can use it to our advantage – oil is trading around $57 per barrel, it is good for us because we would make more money. But I am hoping that the money we are making now, we would realise that we have to use it to shore up our deficit. Again, we keep on borrowing and the more we borrow, the more our debt service keeps rising. At some time in the first quarter 2020, we were doing 91 per cent debt service-to-revenue. So, if we continue in that light, it becomes difficult to implement the budget. Nigeria is one country where we do not discuss budget cuts. So, on the recurrent side, there are salaries, what about other overheads? When are we going to have a conversation about what makes up the other overheads and how much we can cut on those overheads? Why do we keep on spending money like we have money, when we actually don’t have money? Why are we financing the lifestyle of people in government and leadership positions, from local government, states and federal government, financing lifestyles? These are important conversations we need to start having as a nation. So, for our budgeting, we have come back to the January to December cycle, which is good; we have budgeted with $40 per barrel, which is also good. But are we able to raise the money that is required to fund the budget? No. Are we going to borrow most of it? Yes. What would that do to us? Uptick on our debt service. Is that good for us? No. Some have argued that the government should stop further borrowing, what do you think is the alternative to raising resources to fund the budget and in terms of diversifying the country’s revenue base, what practical steps will you advise the government to take towards achieving that?

Just to be clear, I am not one of those that says the government shouldn’t borrow. I am saying that if we need to borrow, we should be sure that we have done all that we need to do first before we borrow. So, what do I mean by that? Let’s say you have N100, but what you require is N150. So, how have you judiciously spent the N100 before we start talking about how you will get the balance of N50? Secondly, if you are borrowing to invest in a sector that would spur economic activities, that is good. But today, we are borrowing to even pay salaries and overheads.

If you look at the 2019 and 2020 budget, you will see that total government revenue was not up to our recurrent expenditure. What that simply meant was that we borrowed to fund salaries and overheads. For me, that is not acceptable. If you want to borrow, you borrow for capital projects and they should be projects that can pay back the debt. So, imagine that the government borrows to set up a rail line, when the rail line is launched you hear something like for the next four month, it is going to be free for people to ride on. That is just politics. This was a rail that was built with borrowed money, why give it out for free? I actually think that when you borrow to fund capital projects, when execute the projects, by all means we should privatise or commercialise those projects so that the cash-flow can come and we can use it in servicing debts going forward. For the other part of the question, I don’t belong to the school of thought of diversification of the economy. To a large extent, in my view, our economy is already diversified. You judge the diversification of the economy through the participation of different constituent part of the economy to the GDP. So, if you look at it in that light, you will see that our economy is already diversified. People think that oil contributes a lot to our GDP, but it does not. Oil is about eight or nine of our GDP, while services is about 40 per cent; agriculture is another 20 per cent or thereabout. So, to a large extent, our economy is diversified. What was not diversified was our revenue base. There was a time oil was 90 per cent of revenue, then it came down to 70 per cent. The Minister of Finance has assured us that in 2021, oil will only be 30 per cent of revenue. So, if we can get to a place where oil is 30 per cent of revenue, that means we have also diversified our revenue base. Now, all of these are steps in the right

can’t share resources.

Chidoka direction. That means that even if the price of oil crashes tomorrow, you only lose 30 per cent of your revenue and 70 per cent which would come from taxation and other sources would continue to drive the economy. The truth is that we don’t have enough people in the tax net and we are not collecting enough taxes. The leakages in the economy are much. And also, purchasing power in the country is weak. So, what I think we need to continue to do is to have a conversation on how to pull people out of poverty, in practical terms and not by tokenism. You can’t pull people out of poverty by giving them N5, 000. When you give them N5, 000, what typically happens is t that they use it to solve their immediate problem and they come back to square one. It’s been done before – China pulled 100 million people out of poverty in the past few years. So, we need to go and check what they did and copy part of it that works for our economy. We really need to pull people out of poverty, because the more you pull people out of poverty, the more they have disposable income, the more they can invest in the economy, the more they

We really need to pull people out of poverty, because the more you pull people out of poverty, the more they have disposable income, the more they can invest in the economy, the more they can pay taxes and the more government’s revenue can grow

can pay taxes and the more government’s revenue can grow. So, I think we should concentrate more on pulling people out of poverty, which is what our basic problem is.

But you cannot pull people out of poverty where there is insecurity. So, you have to solve the insecurity problem, then you can begin to aggressively tackle poverty.

Some days ago, the Chairman of FIRS disclosed the amount the leakages in the system. How do you think we can prevent such leakages going forward so as to shore up the country’s revenue?

When you see Nigeria not doing something that is obvious, it means that maybe there is lack of political will or maybe because some people are benefitting from it. Now, as at today, we have data that we can use to increase tax collections. We have the Bank Verification Numbers (BVN), so you can track peoples’ accounts. Now, you are asking people to get their National Identification Number (NIN) and add it to their phone number, for security reasons. You have the Tax Identification Number (TIN) for corporates and individuals; you have driver’s licence and all the data you have collected and you have international passports and all the data you have collected for it. So, the first thing you need to do is to merge the data and mine the data for tax purpose. That is what they do in other countries. So, you cannot claim not to be able to pay tax because government can look into the account and see how much has gone through the account. You cannot claim not to pay tax if government can look at your assets and see the assets that you have. I think that this silo mentality of data is what is affecting us. We need to bring the data together. Once we bring the data together, you can find anybody, you can trace the person and then bring them to the tax net and for people to pay the right taxes. I think that is the solution because the data is already available, but sometimes every government institution is collecting data, same data and you are asking yourself, why they

In 2020, the pandemic disrupted the operations of a lot of organisations, can you tell about Kairos Capital, your activities last year and how you were able to navigate the challenges posed

by COVID-19?

Kairos is an investment banking institution or an Issuing House, which is the licence we have from the Securities and Exchange Commission (SEC). We do investment advisory, corporate finance, we raise funds for clients, whether it is debt or equity, business advisory, mergers and acquisitions and we fund all these strata of investment banking. In 2020, we were not unaffected by the pandemic because what happened was that companies had to first of all find ways of surviving and adapting to the pandemic and the negative effects it brought on the financial system before thinking about what they needed to do. So, that affected our business. So, one of the things we also did was that we had to adapt and we had to find new product lines that speak to solving the needs that we saw in the economy. So, once the pandemic hit, what it did was that it caused strategic re-alignment in companies where they had to begin to refocus – where should I be investing? What should I be investing in?

When should I be investing? And to take those decisions, companies required the advice of firms like Kairos Capital. So, we had the opportunity of positioning ourselves to be able to advise them on the best way to reposition their business, to tweak their business and to provide access to revenue streams that didn’t exist pre-Covid. Another part of our business that we had to find way of doing was being able to work from anywhere because with social distancing we couldn’t come to the office and we had to find ways of providing our staff all the requirement, we made sure that we provided for our clients the output they expected. We quickly transitioned seamlessly to being able to meet the needs of our clients from wherever we are and that was one lesson we learnt in 2020. The last thing o will like to talk about is that we saw a lot of uptick in activities in the debt capital market towards the end of the year and at Kairos we are positioned as one of the leading advisers in the debt capital market space. So, for that reason we participated in some of the transactions that happened in the market towards the end of 2020. We have the network and ecosystem that enables us to achieve the desired end for our clients. So, all in all, for us, 2020 was a learning curve for us, for our clients and we adapted quickly and we have repositioned and we are now in a situation where we believe that 2021, we should launch further to positively affect the businesses of our clients.

Finally, what are we expecting from Kairos Capital this year and what is your projection for the firm in the next five years?

For 2021, we hope to continue with the pace that we set for ourselves in 2020. In 2020, we sought to position ourselves as a critical adviser across different spheres – whether it is debt, equities, M&As and right now we have shown that we have the capacity and ability to advise along these lines. So, in 2021, what we want to do is to further showcase to the market our ability to advice along those lines, our ability to raise funds locally and internationally, our ability to be strategic in our thinking and provide solutions to the burning needs of our clients. One other thing that we hope to do in 2021 is to co-compete. No man is an island, we believe that we can work together in advising clients. We can be on the sell side and the competitor can be on the buy side.

In five years, we want to create a company that is a dominant adviser in the market.

We want to be in a position whereby when you list the first five advisers of choice in the market, Kairos would be on that list.

We want to be a position whereby we can provide other services that are ancillary to our business. So, you are going to see us begin to roll out businesses that would aide our advisory business. So, in the next five years, we would be a dominant player in the advisory space.

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The ‘Why’Behind Mergers and Acquisitions Introduction

The Lenovo Motorola Acquisition from Google – A strategically motivated deal

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n M&A activity/transaction should be intentional.As obvious as this statement seems (simplistically, no one makes a buy or sell decision without‘intending’ to do so), its importance to both sides of an M&A deal cannot be overemphasized. The Webster’s dictionary defines‘intentional’as an adjective that means something is‘done purposely’. To be done purposely means to be done deliberately.

Implicit in these definitions is the role of ‘critical strategic thought’in the decision-making process.

A buy, sell or merge decision should be borne out of a logical, strategic and deliberate thought process which aims to maximise the interest of the party (be it the buyer or the seller) as well as deliver value to the counterparty. The outcome of this critical strategic thought process forms the ‘why’ behind an M&A transaction and in most deals will determine the success of the transaction as viewed from both sides of the deal. Think of this ‘why’ as the foundation or yardstick of the deal upon which every other negotiation, outcome and strategy will rest. This makes it very crucial and worthy of analysis so that deal makers and practitioners do not lose sight of same while making a deal decision and even during negotiations.

Common reasons for ‘Buy, Sell or Merge’ decisions Qualifying the reasons stated here as ‘common’ is deliberate. The reason is that a party’s ‘why’ for M&A should be peculiar to that party’s circumstances and vision. Hence, the reasons stated here are in exhaustive and merely indicative to show why other parties have made or may make a ‘buy, sell or merge’ decision. It is the author’s recommendation that the common reasons are merely used indicatively during a party’s decision-making process. The motive is to maintain an original and peculiar decision-making process. Some of these reasons are: a.

Market Expansion: business executives are often faced with the question of whether to grow organically or inorganically. Organic growth means developing required competitive capabilities in-house while inorganic growth means acquiring such capabilities. Sometimes, it may be impossible or too expensive to develop certain capabilities internally thereby creating the need for a merger or acquisition to on-board such capabilities and stay competitive. It may also be the case that a business needs to enter and compete in a new geographical or product market. Where this is the case, organic growth may be quite expensive, time consuming and/or impractical. M&As are a faster way to tap into the growth afforded by a new geographical or product market. For example, Apple competes with Sony in different markets such as mobile phones, PCs, music and entertainment.

However, Sony had its powerful Sony Headset devices which had become a complementary device for mobile phones and PCs. Apple wanted to get into this market but perhaps did not want go through R&D, testing and product launch. Hence, it acquired Beats Electronics from hip-hop star Dr. Dre for $3 Billion. (Sherman, 2018) This move gave Apple ownership of a music headset device which could rival Sony’s and ensured that it retained its closed system of complete hardware and software solutions. Stripe’s acquisition of Nigeria’s Paystack is another example of market entry through M&As. b.

M&A deals may also be driven by the need to on-board a significant new identity or capability. (Sherman, 2018) Sometimes, the corporate identity of a Firm may be enhanced by the addition of another high value Firm through M&As. It could also be that there are new capabilities that are desirable to improve the Firm’s position in the industry thereby increasing its share value and revenue. For instance, Facebook’s acquisition of Instagram in 2014, and WhatsApp in 2015, are value/brand enhancing acquisitions which consolidated Facebook’s position as a leading social media company. c.

Backward or forward supply chain integration. A Firm’s supply chain is vital for its success. Coordinating all the players in the supply chain to act in sync and respond to customer needs just in time is no easy task. This is more so where a core capability of the focal Firm is outsourced to another Firm. In view of this, it is sometimes the case that a focal Firm decides to do a backward integration by acquiring the supplier

Firm so as to bring the capability in-house and guarantee better material/information flow and perhaps also save money from the economies of scope which may become available as a result of such acquisition.

For instance, Nvidia’s September 2020 announcement of plans to acquire ARM from Softbank in a share plus cash deal of $40 billion, shows Nvidia’s desire to bring in-house, capability it once relied on ARM for.

Nvidia is a global chipmaker but has been outsourcing its chips design to ARM. ARM on the other hand designs chips for a wide range of chipmakers globally and is said to have shipped about 180 billion chips globally. While this acquisition may yet face ‘antitrust’ regulatory hurdles given ARM’s strategic industry position, it is clear that Nvidia’s strategy is to backward integrate in order to cement the effectiveness of its supply chain.

It is also possible that a supplier may forward integrate by acquiring its distributor in order to guarantee the sale of its inventory.

An example is EssilorLuxottica’s acquisition of GrandVision in 2019. EssilorLuxottica is a premium eyeglasses maker and the owner of brands such as Ray-Ban and Oakley. Grandvision is an eyeglasses retailer and owner of Vision Express. It sells different brands of eyeglasses including those made

by EssilorLuxottica. By acquiring HAL Holding’s 76.72 per cent stake in GrandVision, EssilorLuxottica forward integrated in its supply chain in order to guarantee an outlet for the sale of its inventory – the finished eyeglasses.

unlock synergies which parties enjoy by coming together. When 2 entities which were separate merge, they enjoy economies of scale and scope.

This could mean higher bargaining power with suppliers (thereby reducing cost and reducing their prices to drive competition), or increased specialist talent pool and reduced non-specialist workforce. Also, the combined entity can cross-sell or even tie and bundle products in order to drive sales.

It could also be case of technological synergies, marketing synergies, R&D synergies, among other synergistic possibilities. The very recent announcement by Adobe on 10th November 2020 of its acquisition of project management tool, Workfront for $1.5 billion is a synergistic acquisition.

Workfront is a task management tool in the same space as Microsoft Project and Planner, Wrike, Smartsheet, Monday.com, among others. Adobe is an established creativity and utility software company. The acquisition of Workfront, a business that shares a similar ideology of delivering ease and coordination in today’s demanding business environment, is bound to unlock synergies for both businesses.

d.

Survival. Certain M&A transactions are motivated by the need for survival, be it as a result of regulatory changes (such as deregulation or increase in minimum paid up share capital in the banking sector), or owing to change in market circumstances. In 2005, the Central Bank of Nigeria raised the minimum paid up capital for banks from 2 Billion Naira to 25 Billion Naira, with a deadline of less than a year. This requirement led to a rush in banking M&A deals with financially weaker banks looking to merge with or be acquired by more financially robust banks.

Also, in May 2020, videoconferencing platform, Zoom, out of worry over the security/privacy concerns of its customers, announced the acquisition of Keybase, an encryption specialist. The author believes that this move will ensure Zoom’s survival amidst competition from the likes of Microsoft Teams, Cisco WebbEx, skype, Google Meet, and even WhatsApp, among others who may have encrypted videoconferencing services.

Seller Motivations include: a.

The desire of the owner to retire and the lack of successors b.

Inability to compete c.

Irreconcilable differences among owners d.

Lack of capital for growth e.

Loss of key people or key customers f.

The need for cost savings through economies of scale g.

Access to greater resources as a result of selling to a larger entity

e.

Social/environmental/industry-wide changes. The covid19 pandemic is a classic example of one event which has necessitated social, environmental and industry-wide changes all at once. A lot of questions have been asked about the way we work and live, and this has caused management in different businesses to re-think their portfolios and either embark on spin-offs or acquisitions/mergers. At the height of the global lockdown in April 2020, videoconferencing became more integral in the way we work. Telecommunications giant Verizon, in a bid to adapt to the new reality, announced that it had reached an agreement to acquire video-conferencing company, BlueJeans in a less than $500 million deal. f.

Perceived Synergies. It is said that M&As

Why Buyers Buy and Why Sellers Sell In Andrew Sherman’s ‘Mergers and Acquisitions From A to Z’ (2018), he lists common seller and buyer motivations. The author will list some of these motivations here to give an indication into why either side of a transaction may want to do a deal.

Buyer Motivations include: a.

Desire to diversify to new markets b.

Reducing competition by buying them off c.

Inorganic growth as a quicker and more realistic way to grow d.

Access to new or emerging technologies e.

Access to new markets f.

Deployment of excess cash rather than investing it in R&D or leaving it in the bank.

This is on the understanding that such M&A will add further value and increase the business’ valuation.

For a buyer or seller or any other deal maker, it is important to bear in mind that the reasons stated above may not apply to you. Your reason may be entirely different but must be given critical thought and align with your long term vision, else the value you aimed to unlock by doing a deal may be lost and the deal may be adjudged unsuccessful as a result. ]It is also important to clearly communicate your deal rationale to your counterparty, especially in a merger (distinguished from an absolute divestment or purchase). This will ensure a more successful deal (when viewed from both sides) and aid post-merger integration.

In 2014, Lenovo acquired Motorola Mobility from Google in a $2.9 billion deal. Google only acquired Motorola mobility 2 years prior, in 2012, for $12.5 billion. Why did Lenovo acquire Motorola and more importantly, why did Google sell for such a cut-price? The aim here is to show how M&A decisions are made on both sides and how they ought to be driven by clear strategy. Bear in mind that this paper only addresses the ‘why’ behind the deal and does not address the success of the deal.

Why Google Sold and at the Price it did: Motorola was formally split into two publicly traded companies in 2011, with Motorola Solutions owning the enterprise unit and Motorola Mobility owning the consumer division which comprised of smartphones and other software. Google, owns the Android OS which as of 2011 was consistently under attack by Apple and Microsoft as some of its OEMs were being sued for infringements.

This unsettled phone hardware manufacturers and could have cost Google the success of its now very successful and dominant Android OS. Motorola Mobility had over 17,000 patents in its portfolio and Google believed that these patents would help it defend Android from infringement claims. Hence, it acquired Motorola Mobility in 2012. Having acquired Motorola Mobility, the infringement problem was addressed but its Android licensees such as Samsung feared that its OS supplier now had hardware capability and could compete with them in the hardware space.

Consequently, Samsung began to develop its own OS, Tizen, and LG started developing WebOS. Again, Google was concerned that it may lose its Android market to competition from its partners.

Besides, given that its main source of income was in the services and adverts offered through the Android OS, it became desirable to sell Motorola Mobility. Hence, it sold the business it bought for $12.5 billion to Lenovo for $2.9 billion but retained all the patents save for 2,000 of them.

Its main reason for the purchase was retained and given that it had made hundreds of millions of dollars on quarterly losses on the Motorola Smartphones by underselling them to enhance its Android market share, it could then use the billions of dollars in losses as tax deductions. Also, it sold to Lenovo, a mainly PC company with zero smartphone presence in US at the time, thereby creating a partner to sell its Android OS to, and competitor to the likes of Samsung or LG so as to reduce its dependence on them for its Android.

Why Lenovo Bought: Lenovo was already the number one PC Company in the world by sale volume. It acquired IBM’s Thinkpad PC business in 2005 and gave it global dominance. It had a smartphone business which at the time was 5th in the world but had zero presence in US. The PC market had stopped growing as a result of the increasing capabilities of the smartphone, so it needed to grow its smartphone market to continue its growth. Motorola had a good relationship with US telecom carries such as Verizon and it would be easier to leverage on those relationships rather than build new ones. Also, Motorola was already a strong brand in the US. Therefore, acquiring it was a good way to gain immediate entry into the US market and expand its global presence.

Lenovo believed that its acquisition of Motorola Mobility would unlock substantial synergies to make it a strong third smartphone heavyweight behind leaders, Apple and Samsung.

The Lessons and Conclusion From, the Motorola Mobility story and other examples cited, it is obvious that a lot of thought and strategy goes into making a buy/sell/merge decision. Like Lenovo and Google, every business has its peculiar circumstance which should inform its decision-making considerations. That the reasons for doing a deal need to be clear and strategic cannot be overstated. Parties should engage strategic advisers early on in the decision-making process so that areas of concern may be discussed and potential value unlocking areas such as tax benefits, technological synergies, new markets, and the potential economics of the transaction are fully explored.

Understanding the ‘why’ behind the M&A sets the tone for the entire transaction and must be dealt with consciously, if not more consciously than other stages of the deal.

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

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BUSINESSWORLD

ANALYSIS

Much Ado about Inexistent Cabotage Waivers A Senate Joint Committee has been investigating alleged preferential treatment of foreign vessels and breach of the Cabotage Act 2003 and Local Content Act 2010. Ben Olasupo, who has been following the probe, says testimonies by DG of NIMASA and evidences so far point to needless ado about nothing

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“Let me give you a case scenario. The Group Managing Director, NNPC, just mentioned that it is one thing to own a vessel and it is another thing for the vessel to be fit for the business. In the entire Africa, only Nigeria allows the trading of single hole vessel. The President is aware of this, and when I came in, I issued a Marine Notice that by 31st of December, 2020 we will no longer certificate single hole vessels because if you want to trade, nobody would accept that particular vessel. That is number one, chairman.

“I also want to agree with the GMD, NNPC that we need to do split expansion. Ship owners shouldn’t wait and be talking only about ship. We have not less 2,400 vessels coming to the Gulf of Guinea in a year. 70 per cent of these vessels are coming to the Nigerian shore. Where do they do bunkering? Certainly not in Nigeria; the bunkering is being taken out by foreign companies or our neighbouring countries. Secondly where do they repair their vessels? The ship maintenance industry is down. So, the ship owners have to look at that. In that context, they should look at the capital they have and what business they can do in the sector,” Jamoh said.

He continued: “The other critical issue, which is the issue of maritime security, lies with the Senate and National Assembly. We came here some time ago and said that we wanted the Senate to consider and enact a law so that we could have Coast Guards.

“This particular Bill went through Second Reading and it was dropped. So, how do we now effectively control the indigenous companies and that of foreign companies without Coast Guards? We want to have Coast Guards that can be up and doing”.

But Jamoh had only reiterated a point earlier made by the Minister of Transportation in October, for although the Nigerian maritime industry could fetch 30 times more than annual oil revenues, an estimated $1.6tr if fully developed, according to the World Bank, it has been largely retarded by insecurity.

Amechi had told the panel: “The basic thing in Nigerian waterways is not even those foreigners. It is the level of insecurity and the fact that the National Assembly has refused to pass the law approving the setting up of Coast Guard, which would have been the saving grace of all these. It is the Coast Guards that would have found who is operating and who is not”.

lthough the concept of maritime cabotage has several meanings from jurisdiction to jurisdiction, such as short sea shipping, coastwise trade, coasting trade, it boils down to protecting domestic shipping industry from foreign competitions.

Nigeria’s cabotage regime is embodied in the Coastal and Inland Shipping (Cabotage) Act 2003, which became operational in April 2004. The purpose is to reserve commercial transportation within Nigerian coastal and inland waters to vessels flying the Nigerian flag, owned and crewed by Nigerian citizens, and built-in Nigeria.

For a highly import-dependent nation like Nigeria with poorly capitalised funded and low capacity maritime sector, this legislation is key to protecting the local players from their more experienced and capitalised foreign competitors, stimulating growth in coastal shipping business and local shipping capacity.

The Cabotage Act equally established a matching Cabotage Financing Fund (CVFF) mainly derived from the two per cent deductions from all contract value on ships operating within the nation’s coastal and inland waters to help indigenous ship owners acquire ships that would enhance their ability to partake in the coastal and inland region. The Nigeria Maritime Administration and Safety Agency (NIMASA) manages the fund.

Agitations over waivers Sections 9 to 14 of the Cabotage Act provide for as well as regulate the issue of waivers.

Section 9 specifically states: “The Minister may, on the receipt of an application, grant a waiver to a duly registered vessel on the requirement for a vessel under this Act to be wholly owned by Nigerian citizens where he is satisfied that there is no wholly Nigerian owned vessel that is suitable and available to provide the services or perform the activity described in the application.”

But additionally, Section 14 (1) of the Act mandates the Minister of Transportation to, upon the coming into force of the law, immediately “publish the criteria and guidelines for the issuance of waivers under this Act”.

The guidelines, in the nature of a subsidiary legislation, was issued in 2007, granting NIMASA the power to receive and process waiver applications and forward same to the Minister of Transport (with recommendations) for approval or denial.

These responsibilities have, therefore, put NIMASA and the Ministry of Transportation in the eye of the waiver storm.

Allegations are rife over the years among disaffected stakeholders, mainly the Ship Owners Association of Nigeria (SOAN) that the waiver provisions have been abused to give foreign shipping companies the upper hand.

They alleged that some compromised officials collect money to facilitate the waivers at the expense of local vessels without first inquiring if any indigenous company could render the service sought, thus resulting in loss of billions of naira, yearly, to capital flight to foreign vessels and seafarers.

They have equally protested the nondisbursement of the Cabotage Financing Fund (CVFF) to support local maritime industry.

The fund is said to be in the range of $100b.

Enter the Senate It was against this backdrop that the Senate mandated its Committees on Local Content, Petroleum Downstream, and Legislative Compliance in December 2019 to investigate the reasons for the dominance of foreign-owned and registered vessels in the transportation of petroleum products within the nation’s coastal and inland waterways.

The Senate had in the motion observed that the influx of foreign vessels into Nigeria downstream sector was alarming against the provisions of the Cabotage Act of 2003 and the Local Content Act 2010.

Expectedly, one thing that has dominated the investigative hearing so far is the abuse of waiver, an allegation emphatically refuted by the Minister of Transportation, Rotimi Amaechi,

Jamoh and the Director General (DG) of NIMASA, Dr. Bashir Jamoh, during their appearances before the Senate in October and December 2020, respectively.

The Minister had said: “There is nothing (on waiver) on my table from 2015 till date.

In 2010, 168 persons applied for waivers. In 2011, 208 applied. In 2012, 333 persons, in 2013, 448, in 2014, 377, in 2015, 413 persons applied. I came in 2016. In that year, 374 persons applied but I didn’t see their application or grant any.”

Equally, in his quite engaging appearance before the Senate Committee last December, NIMASA DG, Dr. Jamoh was emphatic in stating that NIMASA had no power to grant waivers and that the Ministry had not granted

The other critical issue, which is the issue of maritime security, lies with the Senate and National Assembly. We came here some time ago and said that we wanted the Senate to consider and enact a law so that we could have Coast Guards

any waiver in 15 years.

“The operation of the Cabotage Act provides that NIMASA has the responsibility to process waiver. For emphasis, note that NIMASA’s role is to process waiver and not to grant waiver. NIMASA never granted any waiver.

“As the Minister mentioned, if we process, we send it to the Ministry of Transportation for the Minister’s consideration and approval.

And to the best of my knowledge, for over 15 years, no minister granted waiver, I said it here.

“So, if the shipping companies or ship owners take waiver processing fee payment as waiver, we shouldn’t call it waiver. NIMASA doesn’t give waiver and I want anybody to come and present waiver given by NIMASA or Ministry of Transportation. But we don’t grant waiver.

“The Act, in Sections 9 to 12, gives the Minister of Transportation powers to approve waivers. But they don’t because they don’t want to encourage foreign vessels participation.

So, this is the situation. There are two distinct laws regarding the processing and granting of waiver”, he passionately and emphatically stated.

Although the Committee is yet to submit its Report, one thing is clear: no one is yet to provide proffer any concrete evidence to show that waivers have indeed been issued in the past 15 years as alleged.

Beyond waiver, the real challenges Unfortunately, while energy is dissipated over waivers, the challenges of lack of capacity and absence of Coast Guards, is palpably weighing the maritime industry down.

Succour coming The Chairman of the Committee on Local Content, Senator Teslim Folarin, however, summed the way forward when he said: “The whole essence of this investigative hearing is not to trade blames. We understand that they don’t have enough vessels; they don’t have capacity, and capacity cannot come from heaven. It is very important that we patronise indigenous shipping companies.”

NIMASA DG, who assured that NIMASA was doing a lot to strengthen the maritime industry and give succour to indigenous players, gave stakeholders something to cheer by way of the CVFF. “Why is this fund being delayed? We granted ship acquisition and ship building fund. Today in my book, we still have more than eight companies that refused to pay this loan since as far back as 1990s. So, care must be taken in the way and manner in which you disburse public funds. When you want to disburse public funds, people will feel that it is a national cake and they are not ready to pay. These are the reasons for the delay. But I am happy to announce that the President granted approval in the last two months.

So, as soon as we finish the process, we will release the fund”.

Now that it has become seemingly clear that neither NIMASA nor the Ministry of Transportation has granted any cabotage waivers, all eyes are on the stakeholders, including the National Assembly, to muster energy towards addressing the real challenges facing the maritime sector with a view to unlocking the sector’s potentials to the benefit of the nation.

MONDAY JANUARY 18, 2021 • T H I S D AY

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Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

Cross section of Civil Servants praising God during the 2021 Annual Inter-Religious Service organized by the State Government in Ibadan...recently

Vice President, Prof. Yemi Osinbajo laying wreath during the Armed Forces remembrance day ceremony in Abuja...recently PHOTO: GODWIN OMOIGUI

Ogun State Deputy Governor, Engr. Noimot Salako-Oyedele laying a wreath of flower in honour of fallen heroes to mark this year’s Armed Forces Remembrance Day, held at the Memorial Arcade of the Governor’s office at Oke Mosan, Abeokuta...recently

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Justice Rahman Oshodi (left) and Justice Olubukola Aigbokhaevbo, taking Oath of Office, during the swearing in Lagos..recently

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CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi ×ËÓÖ ÍÒÓÏ×ÏÖÓÏ˛ÏäÏÙÌÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט ͙͔͙͚͚͓͖͑͑͑͒

Boosting Local Content Development for NAF The Nigerian Air Force is set to partner Caverton Helicopters in the areas of maintenance of its rotary wing aircraft, capacity development of its engineers, technicians and pilots as well as software support, a move in tandem with the Presidential Executive Order No 5 for development of local content in science, engineering and technology, Chiemelie Ezeobi reports

Caverton Ikeja

The Chief of Air Staff, Air Marshal Sadique Abubakar with Air Officer Commanding (AOC), Logistics Command, Air Vice Marshal Lawal Alao; Chairman Caverton Helicopter Services, Mr Aderemi Makanjuola and Managing Director Caverton Helicopter Services, Mr Rotimi Makanjuola

Air Marshal Abubakar with Caverton Chairman, Mr Aderemi Makanjuola

Taking a tour of the facility

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not just about bullets, bombs and rockets but required the participation of all segments of the society, including the private sector. According to him, “when a country is fighting war, all hands must be on deck to succeed and ensure that the nation is secured and the people can pursue their legitimate aspirations without fear”.

ndoubtedly, air power has continuously played decisive roles in bringing conflicts to speedy resolutions. In Nigeria for instance, the nation faces several internal security challenges ranging from militancy in the South-south, pipeline vandalism in the South-west, cattle rustling in the North-west and Boko Haram insurgency in the North-east.

To tackle these security challenges, there is optimum need for a formidable fleet to ensure the Nigerian Air Force (NAF) platforms remain operational. This is where the timely delivery of parts at reasonable costs, maintenance and capacity development, as well as localised partnerships become premium, which will inevitably boost local content development.

Given that the NAF is ordinarily compelled to rely mostly on foreign original equipment manufacturers for the supply of the parts and usually at exorbitant prices, the service under the leadership of the Chief of Air Staff (CAS) Air Marshal Sadique Abubakar, has over the years been focused on looking inwards.

This move by NAF is backed by the focus of the federal government in promoting local content, building indigenous technological capacity and innovation as principal means of preserving the nation’s foreign exchange earnings and.

Thus, in tandem with the Presidential Executive Order No 5 for development of local content in science, engineering and technology, NAF recently extended its local partnerships to Caverton Helicopters for local maintenance of its aircraft and capacity development.

THISDAY gathered that this partnership borders on maintenance of NAF’s rotary wing aircraft, capacity development of its engineers, technicians and pilots as well as software support.

According to NAF Director of Public Relations and Information, Air Vice Marshal Ibikunle Daramola, it is “imperative as part of the NAF’s continued efforts to ensure adequate and increased serviceability of its aircraft to boost the tempo of its air operations to tackle insurgency and other forms of criminality in the country. The partnership is also in tandem with the Presidential Executive Order No 5 for development of local content in science, engineering and technology.”

Partnership To have a first hand experience of what the partnership will entail, the Chief of the Air Staff (CAS), Air Marshal Sadique Abubakar, recently visited Caverton Helicopters Limited office in Ikeja, Lagos.

The CAS, who was accompanied on the visit by some Branch Chiefs, Commandant Armed Forces Resettlement Centre, Air Officer Commanding Logistics Command and other senior officers, was received by the Chairman Caverton Offshore Support Group, Mr Aderemi Makanjuola and other senior management staff of the company and conducted on a tour of the new Maintenance Repair and Overhaul (MRO) Facility as well as the Caverton Aviation Training Centre and the 139 full flight Helicopter Level D Simulator, which was one the highlights of the tour.

Speaking further during the visit, the CAS, while noting the critical importance of partnerships between the military and the private sector, especially when a country is fighting war, stated that Caverton Helicopters had grown in leaps and bounds since the last time he visited the company’s facilities in Port Harcourt. He noted that the NAF would benefit immensely from the company’s expansion in the area of training and maintenance of its helicopters.

He further noted that fighting a war was

Capacity Building Air Marshal Abubakar emphasised that capacity building could also be boosted through such military-private sector partnerships. He disclosed that Caverton Helicopters is one of the indigenous companies that the service was keen to partner, especially for the maintenance of NAF aircraft such as Agusta Westland 139, Bell 412 and Agusta 109 Power Helicopters.

“I am also very excited that we can benefit from training. Training is a very important area that we are very interested in because we believe that the human being is the most important resource and that human being cannot function effectively if he/she does not have the right knowledge or skills”, the CAS said.

He further disclosed that the NAF would immediately start sending technicians and pilots for simulator training at the Caverton Helicopter Level D Simulator, once completed.

Bridging the Disconnect between Military, Private Sector Speaking further, Air Marshal Abubakar highlighted that the NAF, in collaboration with sister services , was working round the clock to tackle insurgency and other security challenges confronting the nation. According to him, his visit to Caverton was part of the fight against insurgency.

He emphasised that fighting to ensure that Nigeria is secured, was not only a military affair but a collective responsibility. He noted

there was a disconnect between the military and the private sector, which, he said, would need to be bridged. He said NAF and Caverton would put together a joint team to take the partnership to a higher level by quickly working out modalities to operationalise the various areas of collaboration.

Symbiotic Relationship While welcoming the CAS, Mr Makanjuola stated that Caverton Helicopters, a 100 per cent indigenous company, has many things to thank the NAF for; one of which, he said, was the fact that many retired NAF officers were now working with the company. He noted that in recognition of the immense contributions of the NAF to the security and development of the nation as well as the areas of convergence in terms of training and maintenance requirements, he felt that Caverton Helicopters, with its team of competent hands, has a lot to offer the NAF. The Chairman further stated that, in the area of training, the company has very strong national content development strategy. He disclosed that the company invested in the first full flight Helicopter Level D Simulator in Africa, which, he said, is expected to be completed in March 2021.

He noted that this would ensure that all simulator training is done in Nigeria, thereby saving foreign exchange whilst also generating revenue by attracting clients from Europe and other parts of Africa. He remarked that the areas of training collaboration include type-rating courses, recurrency training as well as search and rescue training, amongst others.

He said the company would also be offering type-rating training for the engineers, adding that the company would work assiduously with the NAF to ensure that everything the service requires to succeed is provided and delivered with utmost urgency and transparency.

35

T H I S D AY ˾ ͯͶ˜ ͰͮͰͯ

CRIME&SECURITY

Opening Up Rural Communities in Niger Despite Security Challenges Laleye Dipo writes on the timely measures by the Rural Access and Mobility Programme in Niger State to meet up with its target of opening up its rural communities despite inherent security challenges like banditry and kidnapping that are a clog in the wheel of the project

I

nsecurity is the bane of any society that wants to develop. In Niger State, the determination of government to open up the rural communities and therefore check rural urban migration through rural road construction almost hit the rocks as a result of banditry but for the determined efforts of the Management of the Rural Access and Mobility Programme (RAMP) which adopted measures to ensure the projects embarked upon were not prematurely terminated.

Over time, the banditry exacerbated and some foreign contractors supervising these rural road construction were kidnapped and only serious negotiation brought about their release from the clutches of bandits.

Giving insight on how they were able to bypass and manage this dangerous trend, the Niger State Coordinator of RAMP, Etsu Hassan Baba, said they have been recommended to move to the next stage of the programme.

On how insecurity affected the delivery of their mandate for the state, Baba said: “Yes! Insecurity has really affected our work because it has slowed down our work. Ordinarily, especially the contractors handling our second phase of our roads, the stipulated time frame is 18 months agreed for the construction of the roads, unfortunately, we didn't achieve that because of the insecurity we experienced in the state, although the effect was not peculiar to Niger State alone and not everywhere was affected.

“Unfortunately, three of our policemen were abducted around Kompani - Bobi road while working on the bridge site, but due to quick response from the Niger State government in conjunction with the security agencies they were rescued and since then, in conjunction with our development partners (World Bank) we've developed a kind of strategy to engage a project security coordinator, who is like a consultant, to provide to all our sites well armed security (policemen) that are securing our workers, contractors, consultants and even the roads maintenance work force.

“We don't want to take anything for granted because our development partners takes the issue of security very seriously.

So, following that unfortunate incident we have been able to engage an experienced security expert, a retired military officer, who is coordinating our security arrangements and since then we've not experienced any security threat.”

On what effect that had on the delivery of the projects Baba disclosed that “we had course to relocate some of our projects like the initial 55km contract from Padongari to Bassa road, due to the activities of armed bandits around that axis. 25km into the work, the military advised that the contractor should stop work because they would be carrying out military operations in that axis, so we relocated the project to Maikujeri - Tungan Bako. Let me inform you that we received good cooperation from the security agencies especially the Commissioner of Police (CP), SSS and NSCDC to have a safe working environment for our workers.

Expectedly this incurred additional cost but Baba said in the next phase, they will capture the issue of security as a cost. “It surely cost us more money and that is why moving forward into the next phase of the programme, what we intend to do is to see how we capture the issue of security as a cost. Contractors will have to provide security, there was no provision for security before so we have to go extra miles to provide some money to take care of some of this security arrangements”.

Still on funding, he said “RAMP is a core finance initiative of the World Bank and French Development partners aimed at improving transport condition in the

Etsu Hassan Baba, Niger State Coordinator of Rural Access and Mobility Programme (RAMP)

rural areas through the construction and rehabilitation of key rural infrastructure.

Niger state is one of the participating states others are Osun, Imo, Enugu and Adamawa.

“The facility is $60m and it is pertinent to say that it is not a grant it is a credit that will be paid back by Niger State so this is Niger State government thing contrary to belief that it is a World Bank French Development Agency investment alone.

They are in business too. It is a credit to be paid back over a period of 30 years in which all the 25 LGAs benefitted from the 60 million dollars project.”

Delving into other issues like the award he recently received as Best in Implementation amongst the Implementors of RAMP and what it portends, Baba said the state has just completed the implementation of RAMP 2 on December 31, 2020 and “interestingly, it is good to note that we were given targets as enshrined in the project and programme implementation document for us to construct just 370 km of roads and 16 river crossings but we in Niger state surpassed the target given to us by our development partners.

“We constructed 600 km of roads and constructed 30 number of river crossing.

So, that earned the state a letter of commendation and some series of awards as best in implementation amongst the implementors of RAMP.” Notwithstanding the achievements recorded already, Baba said the next stage is now Rural Access and Agricultural Marketing Project (RAAMP). “This time it goes beyond road construction, it includes agricultural chain like markets because we believe that we have opened up these areas therefore, we need markets so that farmers will have value for their farm produce.

“So, we have identified major markets in Niger State to be developed and constructed to international standards, the markets will have processing factories because some of the roads cut across agricultural value chains for example, Mariga international market, Mokwa, Kaboji, Lambata and Kuta markets with all complementing facilities like toilet facilities, fire service, police station, processing factories and others. So we are waiting for the go ahead from the World

Bank”, he added.

Pointing out the major challenges confronting his organisation in the implementation of the projects, Baba first cited the issue of weather. “The weather here is not favourable for road construction. You know we witness heavy rainfall last raining season and that resulted to the flooding of some sections of our roads even though we have fixed them but I think it's a challenge but it is beyond us and even our contractors.

“I also think the issue of insecurity which is not peculiar to Niger State has slowed down the pace of project implementation.

I think basically we need to sensitise our people and another challenge is the size of the state which is three or four times the size of Osun or bigger than the entire South-east, so considering its infrastructural deficit coupled with the size there is agitation for the state government to look for more multi national partnership so that it can leverage on that to reduce the infrastructural deficit facing the state”.

On his fears for the implementation of this stage of the programme, the RAMP Coordinator noted that “my fears are that, now that we have this investments, we have people working for us over 600 employed people all over the state and we are paying them N20,000 monthly stipends, some of them earn their living from this payment.

“So, what will happen to this people if we are disbanded especially now that our development partners are no longer in the business, they have pulled out by the end of agreement, can we sustain them carrying out the road maintenance constructed by RAMP if not what happens to these roads. You can recall in the days of DFRRI during IBB regime, today you can hardly trace such lofty projects because there was no sustainability arrangements, so in this situation in order to sustain and guarantee what we have on ground especially the community maintenance arrangement which can be sustained by the state government and we want to see how RAMP will be transformed into the state Rural Roads Development Agency that will be responsible for the maintenance of some of these roads in the state”.

The above challenge notwithstanding,

he said during the first phase, they were able “to deliver on all our projects. We are able to improve rural transportation and impact positively on the lives of rural dwellers. We discovered that before our intervention, the rural dwellers couldn't travel from one point to the other. There are communities that ordinarily you should access within 30-40 minutes but because of bad access roads it took four to five hours before you access such communities.

“For instance, Kutigi to Tashi Hajiya road before the intervention of RAMP it took no less than five to six hours for you to access Tashi Hajiya from Kutigi but today after the intervention you can access it within 45 minutes. So, there is drastic reduction in travel time which has accounted for reduction in travel costs. We have also witnessed significant improvement in the economic activities of the people living along our road corridors.

“Farmers can now move easily to their nearest markets and we also witnessed bumper harvests because farmers can access farm implements like fertilizers, herbicides and others because they now have good access roads. Because of the intervention too, we discovered that women who are trying to put to bed (in labour) find it difficult to easily access primary health facilities due to bad roads, some paid the supreme price with the loss of their lives but now that has reduced by about 60 per cent.

“We have as well witnessed increase in school enrollment because of good access roads. So these are some of the impacts we are able to create apart from direct and indirect employments for over 600 people.

We have linked over 420 communities in Niger State, over 900,000 people have benefited from our projects and we have opened up many rural roads in the state for better social and economic activities.

“When you ply our road corridors you will witness new settlements because we have put the roads in shape people are coming to settle along the roads. Like I said earlier our Community Based Road Maintenance where we engaged about 600 people who are watching over RAMP roads, we are paying them monthly stipend of N20,000. “

36

T H I S D AY ˾ ͯͳ˜ 2021

BUSINESS/MONEYGUIDE

Austrian Firm to Build Pipeline Factory in Nigeria Emmanuel Addeh ÓØ ÌßÔË To reduce the incessant encroachment on Nigeria’s pipeline network, an Austrian Firm, ScanTECH Isoplus, has said that it is set to build one of the largest intrusion detection pipelines systems in the country. The company noted that major agencies and institutions of government, like the Nigerian National Petroleum Corporation (NNPC) and international oil companies (IOCs) could be key beneficiaries of its investment commitment in that respect.

Essentially, pipeline intrusion detection systems, have the capability to discern Third Party Interference (TPI), illegal tapping attempts and unauthorised excavation along buried pipelines; from a few to thousands of kilometres. The system is able to detect, locate and even identify any intrusion attempt accurately along the entire monitored length in real-time. Recently, the national oil company requested investors to bid to fix pipelines and depots serving its oil refineries, many of which were built several

decades ago.

The pipeline network is crucial to getting crude oil to NNPC’s three refinery complexes and moving the finished fuels to consumers, a process that has, however, for many years been compromised by incessant theft and vandalism, as well as simple ageing, leaving the pipelines in need of extensive repairs.

To tackle the situation, the authorities had said that the new pipelines would need have the, “intrusion detection” capacity within the systems, in addition to deep burial of the pipelines, to curb the twin menaces of theft and vandalism.

The Austrian investors, Scantech Isoplus , reputed to be the world’s biggest producer of insulated pipes with a yearly turnover exceeding US$ 250 million, noted it is set to build the factory in Nigeria to support local production of the pipelines system.

The group consists of a series of legally independent production and sales companies operating independently in Europe, with headquarters in Rosenheim,

Germany and in Austria.

Group Managing Director of Isoplus, Mr. Roland Hirner, who reiterated the commitment of the company to build and execute the latest ScanTech/Isoplus safepipe production facility in Nigeria, noted that it would generate between 400-500 direct jobs.

“We commit to trigger the investment as soon as the basic conditions are in place. The factory will be fully operational within a 6-month period from ground breaking.

“After years of mutually design/testing and extensive scrutiny, all operational permits from Nigerian Content Development and Monitoring Board (NCDMB) and the Department of Petroleum Resources (DPR) for the use of safepipes are granted.

The investment carries employment of an estimated workforce of between 400– 450 employees,” Hirner stated.

He added: “Besides, we also invite partnership opportunities for existing indigenous pipeline contractors and installers who may wish to work with ScanTECH Isoplus locally in Nigeria.”

Ecobank Partners Ultima Studios to Support Entrepreneurs Ecobank Nigeria said it is partnering Ultima Studios on the Lions’ Den TV reality show to support entrepreneurs who have good business ideas but need to raise funds for advancement.

Managing Director, Ecobank Nigeria, Patrick Akinwuntan, was quoted in a statement to have reiterated Ecobank’s commitment to be the foremost financial institution in the country providing thought leadership within the small and medium scale enterprises (SMEs) space and also supporting them with access to financial products and services to succeed. Ecobank is the Lead Sponsor of the TV reality show hitting TV screens in 2021. Lions’ Den which is being packaged and produced in Nigeria by Ultima Limited, a leading reality television

programmes producer in West Africa, is a spinoff of the popular ‘Dragons Den’ and ‘Shark Tank’ in the UK and US respectively.

The TV show brings together budding entrepreneurs and innovators with seasoned investors and business leaders to create an avenue where compelling best ideas are supported and funded.

Akinwuntan said he was optimistic that the show would attract the target group including established SMEs seeking seed or expansion capital, aspiring entrepreneurs and young graduates with bright business ideas. He reiterated that the TV show has a proven track record of appealing to both male and female audiences across the globe.

“SMEs and entrepreneurs in the country are looking for a viable partner that will help them build sustainable businesses.

Customers have become more discerning, they are not looking for any partner, but the right partner - one that is not just providing financial support but is investing in their growth; this is what Ecobank represents.

“We have been actively supporting SMEs because we recognise them as the engine of growth of any economy. This TV show will further create more entrepreneurs. We are pleased to partner with Ultima Limited who have a pedigree of producing world class programmes such as ‘Who Wants To Be A Millionaire?’ and ‘Project Fame West Africa’.

We believe the target group will embrace the programme and at the end of the day, we will achieve our objectives of supporting small businesses and helping aspiring entrepreneurs in the country realize their dreams.”

Wema Bank’s Hackaholics Finalists Begin Bootcamp Wema Bank, has shortlisted ten finalists to take part in the Virtual Bootcamp for its Hackaholics (2.0) Accelerator Program slated to start today.

A statement explained that the finalists, pooled from over 500 applications, were revealed during the two-day virtual pitch program last year.

The pitch program began with an opening remark by the Managing Director, Wema Bank, Mr. Ademola Adebise.

He commended the startups for their efforts and willingness

to contribute to the growth of Nigerian society.

He had said, “We are very proud to create a platform where businesses can have access to diverse resources that can enable them to provide solutions to prevailing everyday challenges.

This is born out of our aspiration to create innovative solutions that can help us as a bank, our environment and the country at large.

“In its second year, we are very excited to have started an initiative focused on creating

commercialisation opportunities for participating businesses by leveraging top-notch resources needed to give their solutions a competitive edge in the market.”

The first day of the pitch program was an avenue for participating startups to prepare and get to know more about Hackaholics 2.0, the evaluation criteria, an overview of each identified industry, market demands and needs, the importance of tech in these areas, and a session for questions and answers.

MoneyCentral Debuts with Print Edition MoneyCentral Media Limited has launched its print publication in addition to its online news, analysis and data platform. According to a statement, MoneyCentral focuses on the most authentic financial and business news, research and data analytics, as well as a forum with a particular goal of reaching a younger audience.

The first edition of the print

publication which hit the newsstands today, “is a collection of well researched stories, investigations, analysis and market intelligence for young people, investors, shareholders, regulators, small and big businesses, providing them with the knowledge and information to help with their business decisions.”

The editor of MoneyCentral’s print and online platforms, Bala

Augie said: “With MoneyCentral there are no fillers, just deep analysis, insight and market moving news. We are building a team of young motivated analysts, who will be producing great stories on a daily and weekly basis that gives our readers the inside knowledge to help grow their money.”

“We believe our unique content speaks for itself,” Augie said.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͯͲ ͰͮͰͯ

The price of OPEC basket of thirteen crudes stood at $55.19 a barrel on Thursday, compared with $55.81 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

37

T H I S D AY ˾ ͯͶ˜ ͰͮͰͯ

Vetiva Forecasts Stocks to Outperform Market in 2021 Goddy Egene Vetiva Capital Management Limited has unveiled its annual list of 10 High Conviction Stocks, that present strong fundamentals and are forecasted to outperform the market in 2021.

According to Vetiva Research, while equity market’s gains in 2020 largely benefitted from global expansionary

monetary policies orchestrated by central banks, the support factors for equities remain strong in 2021.

The report noted that equity markets are projected to benefit from still-low interest rates, resurgence in business activity and crude price recovery. It added that even as broad-based equity demand was anticipated, investors would continue to

P R I C E S MAIN BOARD

F O R

DEALS

cherry pick fundamentally sound stocks with dividend payment potential.

Thus, the selection criteria considered intrinsic valuation upsides and dividend yield expectations. Specifically, the report highlighted Zenith Bank Plc as consistently outperforming the banking and broad market indices in the past three years, leveraging on an impressive

S E C U R I T I E S

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profitability ratio to out-earn larger banks with larger deposit and loan books.

Also, the Oil and Gas Analyst at Vetiva, Luke Ofojebe, anticipated demand recoveries in the downstream sector as well as price increases due to the deregulation as key valuation drivers for Ardova Plc and Total Nigeria Plc. Although the reopening of Nigeria’s land borders

T R A D E D MAIN BOARD

A S

seems to threatens to increase competition in the Consumer Goods space, the Consumer Goods Analyst at Vetiva, Chinma Ukadike, remained confident that Dangote Sugar Refinery Plc and Flour Mills of Nigeria Plc would respectively hold on to market leadership statuses in the sugar and flour milling subsectors, with positive valuation upsides.

O F

Overall, Vetiva listed Zenith Bank Plc; Guaranty Trust Bank Plc; Access Bank Plc; FCMB Group Plc; Dangote Sugar Refinery Plc; Flour Mills of Nigeria Plc; Lafarge Africa Plc; Seplat Petroleum Development Company Plc; Ardova Plc and Total Nigeria Plc as its 10 preferred stocks for 2021, with a potential weighted investment return of 59 per cent.

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38

MONDAY, JANUARY 18, 2021 ˾ T H I S D AY

MARKET NEWS

Notore Chemical Industries Commences Turn Around Maintenance Goddy Egene

Notore Chemical Industries

Plc has commenced the Turn Around Maintenance (TAM) of its fertiliser plant. In

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

notification to the Nigerian Stock Exchange (NSE), the company said the objective

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 14Jan-2021, unless otherwise stated.

of the TAM is to return the plant to its 500,000 metric tonnes per annum (MTPA)

capacity and improve the reliability index to 95 per cent. Barring any unforeseen

circumstance, the TAM is expected to be completed on March 8, 2021.

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 ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds 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 1.28% AIICO Balanced Fund 3.58 3.73 0.55% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.63% Anchoria Equity Fund 136.34 136.84 1.91% Anchoria Fixed Income Fund 1.33 1.33 0.00% 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 N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 131.60 132.52 4.30% AXA Mansard Money Market Fund 1.00 1.00 N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.15 2.15 1.94% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.23 2.27 18.34% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 0.02 0.00 2.00% Paramount Equity Fund 16.59 16.91 3.78% Women's Investment Fund 135.91 137.49 2.13% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 0.72% Cordros Milestone Fund 2023 133.08 133.97 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 108.98 108.98 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 1.55% Coronation Balanced Fund 1.21 1.21 0.41% Coronation Fixed Income Fund 1.60 1.60 0.82% 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 FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,392.93 1,394.55 -0.46% FBN Balanced Fund 189.36 190.79 0.90% FBN Halal Fund 111.53 111.56 0.00% FBN Money Market Fund 100.00 100.00 0.99% FBN Nigeria Eurobond (USD) Fund - Institutional 122.75 123.11 0.95% FBN Nigeria Eurobond (USD) Fund - Retail 122.88 123.24 0.94% FBN Smart Beta Equity Fund 156.99 159.37 3.84% 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 Growth Fund 3,843.38 3,893.34 2.33% Coral Income Fund 3,317.09 3,317.09 1.56% FSDH Treasury Bills Fund 100.00 100.00 2.01% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 0.83% Nigeria Entertainment Fund 128.87 129.40 19.48%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD 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 100.00 100.00 1.08% Vantage Balanced Fund 2.90 2.96 32.49% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 157.02 157.98 9.61% 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: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.62 1.65 5.26% PACAM Fixed Income Fund 12.21 12.33 8.82% PACAM Money Market Fund 10.00 10.00 1.50% PACAM Equity Fund 1.58 1.59 PACAM EuroBond Fund 108.52 110.99 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 132.31 134.60 8.40% 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 0.28% 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 N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.41 1.43 3.21% United Capital Bond Fund 1.89 1.89 0.16% United Capital Equity Fund 0.91 0.93 4.61% United Capital Money Market Fund 1.00 1.00 1.49% United Capital Eurobond Fund 117.35 117.35 0.23% United Capital Wealth for Women Fund 1.09 1.10 1.03% 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 Equity Fund 12.50 12.63 5.41% Zenith Ethical Fund 13.87 14.00 13.57% Zenith Income Fund 24.09 24.09 0.50% Zenith Money Market Fund 1.00 1.00 1.94%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

120.87

0.11%

52.46

0.11%

Bid Price

Offer Price

Yield / T-Rtn

13.00 123.81 97.61

13.10 123.81 99.73

-1.65% 1.70% -1.63%

Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.26

4.30

12.10%

Vetiva Consumer Goods Exchange Traded Fund

5.94

6.02

4.37%

Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund

17.96 1.00 20.51

18.06 1.00 20.71

9.66% 0.87% -0.06%

196.36

198.36

-11.86%

NAV Per Share

Yield / T-Rtn

107.71

13.11%

Fund Name Vetiva Banking Exchange Traded Fund

Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

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.

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MONDAY JANUARY 18, 2021 •T H I S D AY

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MONDAY JANUARY 18, 2021 ˾ T H I S D AY

INTERNATIONAL

Biden to Sign Executive Order to Rescind Travel Ban President-elect, Joe Biden, plans to sign roughly a dozen executive orders, including rejoining the Paris climate accord and ending the travel ban on predominantly Muslim countries, on his first day in office, according to a memo from incoming chief of staff Ron Klain.

He’ll also sign orders halting

evictions and student loan payments during the coronavirus pandemic and issuing a mask mandate on all federal property in an effort to either roll back moves made by the Trump administration or advance policy in a way that was impossible in the current administration.

US Vows Actions against Those Undermining Democracy in Uganda The United States has expressed worries over reports of violence and irregularities in the recentlyconcluded Ugandan election, vowing to take action against masterminds of such acts.

“We urge all parties to reject violence and to use constitutional and legal means to address complaints,” the United States Department of State said in a statement on Saturday evening.

“We call upon the Government of Uganda to respect freedom of expression and the right to peaceful assembly and to hold accountable members of the security forces responsible for violence and abuses. We reiterate our intention to pursue action against those responsible for the undermining of democracy and human rights in Uganda.”

It equally condemned reported cases of human rights abuses and continued attacks on political candidates, calling for the government to respect the freedom of expression.

“We strongly urge independent, credible, impartial, and thorough investigations into these reports and that those responsible be held accountable,” the statement added.

While commending Ugandans to turning out en masse for the exercise despite an “environment of intimidation and fear,” the

US called for the immediate restoration of internet and social media services shut down in the lead up to the election.

“Finally, we note the continued nationwide shutdown of the Internet and call for its immediate restoration along with that of social media services,” it noted.

Yoweri Museveni won a sixth term in office, extending his 35year rule after an election which took place under heavy security and an internet blackout, and which his main rival said was marred by fraud and violence.

The 76-year-old leader, who took power in 1986, is one of Africa’s longest-serving presidents and was accused of crushing the opposition and media ahead of one of the most violent election campaigns in recent years.

Museveni won with 58.6 percent of votes, seeing off a stiff battle from the former ragga singer Bobi Wine, 38, whose turn to politics fired up a youthful population where three quarters are under 30 years old.

Wine was under heavy guard at his home on the outskirts of Kampala as results were announced, with his party saying he was under “effective house arrest”, while the government said it was merely providing him with security.

Nations Failing to Fund Climate Adaptation, Says UN The world is falling short of promises made under the Paris climate deal to help the most vulnerable nations deal with the increasingly devastating impacts of climate change, according to the United Nations.

Adaptation — reducing the fallout among communities and increasing their capacity to deal with climate-related disasters such as floods and drought — is a pillar of the landmark 2015 accord, which aims to chart a path away from catastrophic warming.

The deal requires signatories to implement adaptation measures through national planning, but also through funding to at-risk countries.

The UN Environment Programme Adaptation Gap report found that the current finance levels of around $30 billion annually for adaptation fell far short of the annual cost in developing nations of $70 billion.

It said the true cost of adapting to climate impacts in these nations could be as high as $300 billion every year by the end of the decade and $500 billion by

mid-century.

“The hard truth is that climate change is upon us,” said Inger Andersen, UNEP executive director.

“Its impacts will intensify and hit vulnerable countries and communities the hardest — even if we meet the Paris Agreement goals of holding global warming this century to well below 2C.” UNEP called for a drastic scale-up of public and private finance for adaptation, as well as increased investment in nature-based solutions such as protecting and sustainably restoring ecosystems.

With just over 1C of warming since the start of the industrial era, Earth is already experiencing more intense and frequent extreme weather such as droughts and flooding, as well as storms supercharged by rising seas.

Much of the devastation wrought by climate-linked disasters falls on developing nations, and despite promises to help out financially, richer countries still aren’t hitting their adaptation funding targets.

One of Biden’s most common campaign trail promises was to tackle an issue on his first day in office — a pledge he usually made to either contrast himself with President Donald Trump or highlight just how important he believed an issue to be.

These promises were made on everything from climate change to immigration to foreign policy,

and many are reflected in Klain’s Saturday memo, which was first reported by the New York Times.

Beyond executive actions in his first days in office, the memo outlines that Biden plans to send Congress a large-scale immigration plan within his first 100 days in office.

The plan would offer a pathway to citizenship for the millions of undocumented immigrations currently

in the United States.

Biden rolled out his first legislative priority this week, announcing a $1.9 trillion coronavirus relief package that included direct payments to Americans.

The day after Biden is inaugurated, according to Klain, he will “sign a number of executive actions to move aggressively to change the course of the COVID-19 crisis and safely

re-open schools and businesses, including by taking action to mitigate spread through expanding testing, protecting workers, and establishing clear public health standards.”

And on January 22, Biden will direct his Cabinet agencies to “take immediate action to deliver economic relief to working families bearing the brunt of this crisis,” Klain writes.

NO TO RESTRICTIONS...

Demonstrators march without masks during a protest against Covid-19 restrictions at the Ringstrasse in Vienna, Austria…weekend AFP

Uganda Poll: Bobi Wine Still Under House Arrest After Election, Says Party Ugandan opposition leader Bobi Wine remains under “house arrest”, his party said on Sunday after a disputed election returned President Yoweri Museveni to office for a sixth term.

The former ragga singer turned lawmaker came second in the presidential election and has said the process was marred by widespread fraud and violence.

He has not left his home since he went out to vote in the election on Thursday, and on Friday said he was under “siege” as soldiers and police surrounded his home, preventing anyone from entering or leaving.

“Our leader … is effectively under house arrest,” National Unity Platform spokesman Joel Ssenyonyi told a press conference, adding no one was being allowed

access.

“His home is not a detention facility. We are very concerned about the state in which he is in, and his wife.”

A Twitter update under Wine’s account, written by an administrator as Uganda remains under an internet blackout for a fifth day, said the couple had “run out of food supplies.”

The party said prominent MP, Francis Zaake, who had been arrested during an attempted visit to Wine’s house on Friday, had been admitted to hospital “badly beaten and brutalised” by security forces.

Ugandan officials have said the soldiers and police were there for Wine’s own security Wine and his NUP have yet to outline their next steps after

dismissing the election as a “complete sham”.

“Once again, a minority clique is forcing themselves on the majority of Uganda. That is something that we are going to resist. It is something that we are going to say no to using every avenue provided for within the law,” said Ssenyonyi.

Museveni, 76, has ruled Uganda without pause since seizing control in 1986, when he helped to end years of tyranny under Idi Amin and Milton Obote.

Once hailed for his commitment to good governance, the former rebel leader has crushed any opposition and tweaked the constitution to allow himself to run again and again.

His re-election with 58.6 percent of the vote, to Wine’s 34.8 percent, came after the most

violent election campaign in recent years, with the harassment of the opposition, media and deaths of scores of Wine’s supporters.

Wine said there had been ballot-box stuffing, intimidation, and that his party’s agents had been beaten and chased away during the election on Thursday.

However Museveni has said it was the cleanest election in the country’s history.

US State Department spokeswoman Morgan Ortagus praised Ugandans on Saturday for voting “despite an environment of intimidation and fear”.

She added that the US was “deeply troubled by the many credible reports of security force violence during the pre-election period and election irregularities during the polls”.

Kamala Harris to Resign from US Senate Seat Today United States Vice Presidentelect, Kamala Harris, will resign from her Senate seat today ahead of Wednesday’s inauguration ceremony.

Harris has already started the process by notifying California Governor Gavin Newsom (D).

She’s then expected to make an announcement on Monday resigning from her Senate seat, according to Harris aides.

“She’s notified Governor Newsom, and has sent her formal indication that she will be resigning on Monday, January 18.And then she will make a formal announcement on Monday,” said an aide.

Newsom has already announced that he will appoint Alex Padilla,

California’s secretary of state, to fill Harris’s seat for the remainder of her term, which was scheduled to end in 2022.

Though the pick was lauded by labor unions and Latino organisations, it also rankled some who wanted Newsom to replace Harris with an African American woman.

Harris is one of just three Black senators. Though the arrival of Senator-elect Raphael Warnock (DGa.) will keep that overall number steady, Harris is the only Black female senator currently serving and just the second Black female senator in the chamber’s history.

Harris’s ascension to the vice presidency will shatter one of the

few remaining glass ceilings women face in politics as she becomes the highest-elected woman in American history. In addition to being the first female vice president, Harris is also the first Black, Indian and Caribbean American woman to serve in the country’s second-highest office.

Harris was elected to the Senate in 2016. She quickly garnered the national spotlight for her sharp questioning style, including grilling then-Department of Homeland Security nominee John Kelly, appearing to fluster then-Attorney General Jeff Sessions during a 2017 Judiciary Committee hearing and raising eyebrows when she asked then-Supreme Court nominee Brett Kavanaugh if he had ever

discussed former special counsel Robert Mueller‘s probe with anyone.

Harris teamed up with Republicans on issues such as election security and criminal justice reform during her Senate tenure.

She also had high-profile fights with her GOP colleagues, including a heated floor debate with Sen. John Cornyn (R-Texas) in June over a GOP police reform bill and separate anti-lynching legislation that Harris offered with Sens.

Cory Booker (D-N.J.) and Tim Scott (R-S.C.). Roughly a week later, she and Cornyn teamed up on legislation to shore up foreign media disclosures under the Foreign Agent Registration Act.

MONDAY JANUARY 18, 2021˾ T H I S D AY

43

NEWSXTRA

Buhari, Atiku, Abiodun, PDP, Ogun APC Mourn Former Minister, Martins-Kuye Chuks Okocha in Abuja and Kayode Fasua in Abeokuta President Muhammadu Buhari, former Vice President Atiku Abubakar, Governor Dapo Abiodun of Ogun State, Peoples Democratic Party (PDP), and Ogun State chapter of the All Progressives Congress (APC) yesterday mourned a two-time minister, Mr. Jubril Martins-Kuye, who died earlier in the day.

The 79 – year-old AgoIwoye-born politician, who was appointed Minister of Commerce and Industry during the tenure of acting President Goodluck Jonathan, died yesterday morning at his private residence in Lekki, Lagos State after an undisclosed protracted illness.

Martins-Kuye’s political godson, who is the current lawmaker representing Ogun East Senatorial district in the Senate, Senator ‘Lekan Mustapha, confirmed his death to journalists yesterday in Abeokuta, the Ogun State capital, describing it as “a big blow” to the entire Ijebu people of the state, saying that “he was not just a mentor, but a pathfinder”.

Born on 16th August 1942 in Ago Iwoye town in the Ijebu North Local Government Area of Ogun State, JMK as was popularly called within the political circles, was appointed minister by former President Olusegun Obasanjo in 1999 with a portfolio as the Minister of State for Finance, serving till the year 2003.

In a statement by Buhari’s

Special Adviser on Media and Publicity, Mr. Femi Adesina, the President said the deceased would be missed for his insight on issues of development.

In the statement titled, “President Buhari condoles with family of former minister, Sen. Jubril Martins-Kuye,” Buhari recognised Martins-Kuye’s contributions towards tailoring budgets that reflect needs of the people, with his emphasis on full implementation.

The statement read, “President Muhammadu Buhari commiserates with family, friends and associates of former Minister of Commerce and Industry, Sen. Jubril Martins-Kuye, praying that the almighty God will comfort them at moment of grief.

For Abiodun, the demise of the former Minister of State for Finance marked the end of an era and significantly underscores the depletion of the rank of elder statesmen, men of faith and progressive politicians in the country.

A statement issued in Abeokuta by his Chief Press Secretary, Kunle Somorin, quoted the governor as saying, “I have personally lost a great pillar of support, who offered useful advice to advance my political career”.

“I am yet to come to terms with the passage of Senator Jubril Martin-Kuye, because this is one death that inflicts not just a deep pain, but one that will linger for long, and a loss of immeasurable proportion for me as a person,

to his immediate and extended families as well as the political establishment he belonged”, the statement said.

The Ogun State chapter of APC has also expressed deep sadness over Martins-Kuye’s death.

In a statement issued yesterday afternoon by APC and signed by its Caretaker Publicity Secretary, Ambassador ‘Tunde Oladunjoye, the party described the late

politician as an “uncommon bridge builder, patriot and a very humane, courteous and humble politician whose model was politics without bitterness”.

On his part, Atiku has also expressed shock over the death of Martins-Kuye, describing his death as a colossal national loss.

Atiku in his verified tweeter handle said, “I’m shocked and saddened at the passing away of

Senator Jubril Martins-Kuye. He would be remembered, among others, for the commendable role he played in the establishment of Servicom during the Obasanjo administration. My heartfelt condolences to his family, associates, the government and good people of Ogun State. May the Almighty Allah forgive his sins and grant him Aljannah Firdaus.”

In the same vein, the PDP in a

statement by the National Publicity Secretary, Mr. Kola Ologbondiyan said “Senator Martins-Kuye, a member of the Third Republic Senate as well as our party’s candidate in the 1999 governorship election in Ogun State, was a highly courageous democrat and dedicated statesman, who sacrificed his time, energy and resources towards the stability and development of our nation,” the party said.

REMEMBERING FALLEN HEROES...

L-R: Commandant, 35th Artillery Command, Nigerian Army, Alamala, Abeokuta, Brigadier AJ Amadasun; Speaker, Ogun State House of Assembly, Hon. Olakunle Oluomo; the state Chief Judge, Justice Mosunmola Dipeolu; and Deputy Governor, Mrs. Noimot SalakoOyedele, at the 2021 Armed Forces Remembrance Day celebration held at the Memorial Arcade of the Governor’s Office, Oke Mosan, Abeokuta ...recently

Falana-led Coalition Seeks Renewal of #EndSARS INEC Lists Hurdles to Protesters’ Passports Anambra, 2023 Elections Davidson Iriekpen Rachael Oduala, Mary Oshifowora to protest against the government, fulfilling the five demands of our

Chuks Okocha in Abuja

Ahead of the governorship election in Anambra State and the 2023 general election, the Independent National Electoral Commission (INEC) has identified five critical areas of concern and challenges likely to confront the commission in the conduct of the elections.

According to the INEC National Commissioner in charge of Voter Education and Publicity, Mr. Festus Okoye, these areas of concern include, expanding voter access to Polling Units in the context of a growing population and the growth of new settlements across the country; and validation of the Voters roll and Continuous Voters Registration (CVR) in the shadow of the COVID- 19 pandemic.

Others are repeal and reenactment of a new Electoral Act that would guarantee the conduct of free, fair, transparent elections; deepening technology in the electoral process and rolling out Electoral Voting Machines for the Anambra State Governorship election.

Okoye said that equally of great concern to the commission is how to increase voter turnout in future elections and how to effectively manage electoral success recorded in the last two off -season elections in Edo and Ondo states.

Okoye spoke Saturday in Leggings, Nasarawa State at the close of a five-day Workshop for Review of INEC Voter Education Manual .

INEC Voter Education Manual is being reviewed by the Department of Voter Education and Publicity (VEP) with the aim of identifying and including best methods of designing voter education messages to increase citizens participation in the electoral process.

The is supported by the Westminster Foundation for Democracy.

Okoye said for the commission to achieve the concerns enumerated above, the department (VEP) must design new, creative and innovate messages that would address the electoral concerns and challenges of the youth and students population.

He reminded VEP Staff that in designing voter education messages they must be able to compete effectively on the social media and “our narratives and messages must be clear, concise and believable.”

Okoye said while designing voter education messages, “INEC must take on board societal changes and dynamics” and urged the participants to design new methodologies of delivering Civic and Voter Education in the context of a pandemic.

He informed participants that the commission has resolved to sustain the momentum of the successes recorded in the Edo and Ondo governorship elections and also increase voter turnout in elections through the provision of access to the Polling Units.

The Alliance on Surviving COVID-19 and Beyond (ASCAB) led by a human rights lawyer and Senior Advocate of Nigeria (SAN), Mr. Femi Falana, has called for the renewal of the passports of the #EndSARS protesters Falana made this call in a statement he personally signed yesterday.

The group identified the affected protesters as Bolatito

and Mosopeoluwa Odeseye.

“The Alliance on Surviving COVID-19 and Beyond (ASCAB) has confirmed that the Nigeria Immigration Service has willfully refused to renew the passports of Bolatito Rachael Oduala, Mary Oshifowora and Mosopeoluwa Odeseye for taking part in the #EndSARS protests,” the statement signed by Falana, partly read.

“Apart from repeatedly stating that Nigerian citizens are entitled

President Muhammadu Buhari said on January 1, 2021 that “2020 indeed came with a lot of challenges ranging from security and economic issues across the regions to understandable protests that were mainly led by our youths and served notice to the demand for police reforms and accountability.

“This government heard, this government listened and this government is committed to

youths, fully understanding that we all wish well for Nigeria.”

The senior lawyer also lamented that the thugs that attacked the #EndSARS protesters last year were treated as sacred cows.

While accusing the police authorities of releasing the criminals who the protesters handed over to security agencies, he said the thugs were yet to face persecution.

SERAP Urges N’Assembly to Stop Buhari from Selling Govt Property to Fund 2021 Budget Udora Orizu in Abuja Socio-Economic Rights and Accountability Project (SERAP) has urged the Senate President, Dr. Ahmad Lawan, and Speaker of the House of Representatives, Hon Femi Gbajabiamila, to urgently review the 2021 appropriation legislation to stop the President Muhammadu Buhari from selling public property to fund the 2021

budget.

SERAP also urged them to identify areas in the budget to cut such as salaries and allowances for members of the National Assembly and the presidency to address the growing level of deficit and borrowing.

The Minister of Finance, Zainab Ahmed, had last week confirmed that the federal government would sell some government-owned

property to fund the 2021 budget.

SERAP in a letter dated January 16, 2021, signed by its Deputy Director, Kolawole Oluwadare, said the National Assembly has a constitutional oversight responsibility to protect valuable public property and to ensure a responsible budget spending.

The organisation opined that allowing the government to sell public property, and to enjoy

almost absolute discretion to borrow to fund the 2021 budget would amount to a fundamental breach of the constitutional and fiduciary duties.

SERAP maintained that selling valuable public property to fund the 2021 budget would be counterproductive, as it would be vulnerable to corruption and mismanagement.

One Killed, 11 Missing as Two Communities Clash in Akwa Ibom Okon Bassey in Uyo One person has been reportedly killed, while 11 others are still missing and many wounded in a recent clash in two communities in Akwa Ibom State.

The communities, Okopedi and Ammamong of Okobo Local Government Area of the state, were said to have engaged each other in a war-like situation over

farming land acquisition.

A prominent indigene of the area, who I the Chairman of the Governing Board of the state polytechnic at Ikot Osurua, and former Attorney-General of the state, Ekpenyong Ntekim, has, however, waded into the crisis.

Addressing journalists yesterday, he urged the warring parties to sheath their swords and embrace peace for the overall development

of Okobo LGA. Ntekim reminded them that no meaningful development can take place in a society in crises.

The former attorney-general lamented that few days after Christmas and new year, all the indigenes of the warring communities could offer to the people of Okobo LGA was nothing but blood-letting and wanton destruction of

property.

With tears, he sympathised with those who lost their lives and those whose property have been destroyed in the crisis.

He called on the authorities of the Nigerian Police Force (NPF) and her sister agencies to ensure that they deploy personnel in Okobo council area to forestall further crisis in the area.

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NEWSXTRA

Lekki Homeowners Threaten Showdown with Police, Thugs over Land Grabbing Rebecca Ejifoma Homeowners and allottees of Alma Beach Estate in Lekki Lagos, have threatened showdown with policemen and thugs sent by suspected trespassers.

While the trespassers are accused of attempts to demolish their houses and forcefully take over their properties, the Lagos State Police Command was alleged to have deployed the armed policemen providing security cover for the land grabbers.

According to the homeowners, this act of the police is in defiance of directives by the Inspector General of Police, Mohammed Adamu, and the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN).

This incident was said to have started in 2017 when a firm allegedly claimed ownership of 150 plots of land in Alma Beach estate without any authentic survey or registered title as proof.

It was learnt that the Lagos State

Government through the state Surveyor General, Mr. Olutomi Sangowawa rejected the claims in a memo to the Assistant IG of Police, AIG, Zone 2 with ref: AR: 3000/ZN/MTU/TMU/TM4/ VOL.2/116 dated July 3, 2020.

The state government was said to have affirmed that the estate allotees have their titles consented to by the government, and registered as confirmed by their survey plan No. LA/0807/2007/05.

The state government was also said to have noted that the firm’s purported survey plan does not exist in the state records.

Prior to the intervention of the state government, the authentic homeowners and allottees in the estate had also secured two court orders restraining the firm from trespassing in the estate.

This was said to have formed the basis of a letter from the Attorney General of the Federation dated August 20, 2020 to the IG of Police.

The AGF’s letter was for the IG

Sanwo-Olu Orders Police to ImpoundVehicles with Covered Number Plate Lagos State Governor, Mr. Babajide Sanwo–Olu has directed the Rapid Response Squad of the state police command to impound vehicles with covered number plate in the state.

Head of Public Affairs Unit, Rapid Response Squad, Femi Moliki, in a statement, yesterday, said six vehicles without number plate had been impounded after the directive.

In the statement titled, ‘SanwoOlu orders police to impound vehicles with covered number plate’, Moliki said, “Five of the vehicles have been transferred to the Lagos State Taskforce on Environmental Sanitation and Special Offences. The sixth, a Mercedes Benz, ML 350 was intercepted and impounded in Victoria Island by the officers of the squad around 9:30 p.m. yesterday (Saturday).

“The driver of the vehicle, one Adam Oluremi, 32, threatened and mobilised a military man

to shoot the officers. The officers professionally de-escalated the crisis and successfully towed the vehicle to RRS Headquarters.”

Receiving a briefing on the issue, the Lagos State Commissioner of Police, Mr. Hakeem Odumosu, directed that the vehicle be impounded and the driver prosecuted, maintaining that “nobody is above the law of the land”.

Meanwhile, RRS Commander, CSP Olayinka Egbeyemi, has charged officers of the squad to be professional in the discharge of their responsibilities, maintaining that they should be civil and firm in enforcing the law.

He urged the officers to be dedicated and not to give room for distractions while on duty.

Egbeyemi stated that lawabiding Lagosians should look forward to a robust relationship, noting that the squad would be uncompromising with criminals.

APC Sweeps Kano LG Elections Ibrahim Shuaibu in Kano The Kano State Independent Electoral Commission (KANSIEC) has declared the candidates of the All Progressives Congress (APC) winners of all the 44 local governments’ chairmanship and counsellorship seats that were contested on Saturday, January 16, elections in Kano State.

The APC, by the virtue of the Saturday’s electoral victory, would produce 44 local government chairmen and 484 counselors to take charge of the government businesses at the local level in the state for the next three years.

Briefing journalists yesterday at the headquarters of the KANSIEC, the Chairman of the KANSIEC, Professor Garba Ibtahim Sheka, described the turn out for the

election as impressive, but agreed that there were pockets of skirmishes.

Sheka said the exercise, which has been described as peaceful

by Civil Society Organisations (CSOs) and all the accredited electoral observers, produced victory for the APC. He appreciated the Governor of Kano State, Mr. Abdullahi Umar Ganduje, for giving the KANSIEC a free hand to organise the election without any interference.

He also commended all security agencies for ensuring that the elections were peaceful and orderly.

Recall that Ganduje predicted on Saturday that the APC would win the elections in all the 44 local governments.

to ensure that policemen were not deployed to the estate for illegal activities and in contravention of two court orders issued by the Federal High Court on October 24, 2019 and January 23, 2020.

Lawyer to the estate homeowners and allottees, Dr. Muiz Banire (SAN) has expressed

shock over the activities of policemen providing cover for armed thugs to destroy people’s houses and allow illegal developers to build structures.

He added: “This is the type of illegalities that recently led to a nationwide uprising against the police.

“If the rightful allottees decide to defend themselves against the invasion and destruction of their homes and properties, any police officer responsible for the deployment of policemen to provide cover for hoodlums should be held responsible and

accountable.”

Reacting to the tension, the State Police Spokesman, CSP Olumuyiwa Adejobi, told THISDAY he was not aware of the situation.

“I will get back to you on this. I am not aware,” he added.

JOB CREATION...

Governor of Kogi State, Mr. Yahaya Bello (left), and Minister of State for FCT, Dr. Ramatu Aliyu, during the inauguration of the Special Public Works Project for 774,000 Nigerian youths, in Kogi State...recently

COVID-19: NYSC Gives Conditions for Admitting Corps Members into Camp Ahead of the commencement of the 2020 Batch “B” Stream II Orientation Course on January 19, the National Youth Service Corps (NYSC) has given conditions for admitting corps members into camps nationwide amid the COVID-19 pandemic.

In a series of tweets on Saturday, the agency said prospective corps members must possess a clearance certificate showing that they are not COVID-19 positive.

“It is imperative to restate that everyone coming into the NYSC camps must undergo COVID-19 test, Corps Members, and officials alike. Only those that test negative are admitted into the camps,” it stated.

“The same measures adopted for the November and December 2020 Orientation Courses are going to be applied to the 2020 Batch “B” Stream II Orientation Course commencing, Tuesday,

January 19, 2021, with stricter enforcement of all the safety protocols.

“The NYSC and NCDC are working closely for a successful exercise as recorded previously.

Accordingly, members of the general public are advised to disregard the unbalanced and cooked-up reportage designed to deliberately create fear and panic in the minds of unsuspecting Nigerians.”

The federal government had

on March 18, 2020, ordered the immediate closure of the NYSC orientation camps nationwide over COVID-19 fears.

The 2020 Batch A Stream One NYSC members arrived on the camp on March 10 and were expected to leave three weeks after.

However, the camps were reopened on November 10 after being shut for over 10 months to curb the spread of the virus.

Anambra, Osun Reopen Schools Today David-Chyddy Eleke in Awka and Yinka Kolawole in Osogbo The governments of Anambra and Osun States have today reopened schools in their various states, with only teachers and school administrators directed to attend in Anambra State.

Students and pupils in the state, the Anambra State government said, would only commence attendance and full classes on February 1 for the 2020/2021 academic session.

An official announcement by the state Commissioner for Basic Education, Prof. Kate Omenugha, stated that the date of resumption was approved by the State Executive Council (SEC) on January 14, 2021.

The announcement urged the public, private and mission schools administrators and teachers to use the two-week period prior to full resumption to install all facilities that would enable the observance of COVID-19 protocols in their various schools.

The announcement read: “Note that no child or teacher would be allowed into the school compound without their facemasks, while school infirmaries (sick bays) are requested to rise to their responsibilities in ensuring that regular temperature checks of all making entry into school compounds.

“Those in the boarding houses are advised to prepare accordingly while returning to their hostels as visitors may not be allowed into the school premises with them.

“All stakeholders should be guided accordingly as no school should open before the stipulated date. Instead, all schools should concentrate on getting their school COVID-19 protocols ready before receiving the students. Defaulters shall be seriously sanctioned, including closure of such schools.”

Meanwhile, the Osun State Government has directed schools across the state to reopen today for the continuation of first the term of the 2020/21 academic calendar.

FG: NIN Mandatory for Foreign Diplomats Emma Okonji The federal government has disclosed that the National Identity Number (NIN) is mandatory for foreign diplomats who will reside in Nigeria for a continuous period of two years or more.

The Minister of Communications and Digital Economy, Dr. Isa Pantami, said this in a statement issued yesterday by his Technical Assistant, Dr. Femi Adeluyi.

He said that an enrolment centre has been established for the

foreign diplomats at the Federal Ministry of Foreign Affairs.

The statement read, “The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, has approved the setting up of a National Identity Number (NIN) enrolment centre at the Federal Ministry of Foreign Affairs.

“The desk will be set up by Tuesday, 19th of January, 2021.

“This enrolment centre will provide support for members of the Diplomatic Corps and will be managed by the Federal

Ministry of Communications and Digital Economy, through the National Identity Management Commission,” the statement said.

It explained that the centre is being set up based on the request of the Minister of Foreign Affairs, Mr. Geoffrey Onyeama, in order to simplify the process for diplomats.

“The National Identity Number is mandatory for diplomats who will reside in Nigeria for a continuous period of two years or more.

“It is also mandatory for all other lawful residents in the

country as stated in Section 16 of the National Identity Management Commission Act 2007,” the statement added.

The statement also said that the law has made it mandatory for Nigerians and legal residents to obtain a NIN since 2007.

“However, compliance has been low, until recently,” it said.

In a related development, Pantami, has also approved the closure of enrolment activities at the National Identity Management Commission (NIMC) Headquarters, Abuja.

MONDAY JANUARY 18, 2021 ˾ T H I S D AY

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24 HOURS...

24 HOURS...

EFCC Asks Appeal Court to Set Aside Pardon of Bank Officials, Indian Davidson Iriekpen The Economic and Financial Crimes Commission (EFCC) has urged the Lagos Division of the Court of Appeal to set aside the purported pardon granted to an Indian businessman, Ashok Israni and two officials of Keystone Bank, Anayo Nwosu and Olajide Oshodi by the Lagos State Government.

Justice Kudirat Jose of the Lagos State High Court in Igbosere had in December 2019 jailed Israni, Nwosu and Oshodi on an amended 15-count charge bordering on conspiracy and obtaining by false pretence to the tune of N855 million.

The Judge had sentenced them to five years imprisonment each on counts 1, 3, 4, 7, 9, 10 and 13 of stealing.

Justice Jose had also convicted NULEC Industries Limited belonging to Israni and Keystone Bank Limited in her judgment.

The companies were also ordered to pay a fine of N20 million to the federal government on counts 1, 10 and 13.

The jugde also ordered the convicts to pay the sum of N395 million to the victim of the fraud.

But just four months after their conviction, they were released from prison by officials of the Kirikiri Correctional Centre allegedly on

the directive of the Lagos State Government despite the pendency of their separate appeals before the Court of Appeal.

The EFCC in the application filed on its behalf by its counsel, Rotimi Jacobs (SAN), insisted that it is the law that pardon cannot be granted to convicts whose rights of appeal has not been exhausted.

The anti-graft agency is also praying the appellate court to declare the purported pardon illegal since the appellants’ appeals had been filed and entered since February 13, 2020, but could not be heard due to the outbreak of COVID-19 pandemic which has

forestall judicial activities.

The EFCC also maintained that it has since prepared its respondent’s brief of argument but was unable to file due to the outbreak of COVID-19 pandemic that has paralysed judicial activities within the court’s Registry.

The commission also claimed that it repeated demands from the Nigerian Correctional Service for a copy of the instrument of pardon showing that the appellants were granted pardon has not been successful.

It alleged that the Correctional Services authority only rather sent a mere letter confirming the release

of the appellants.

The EFCC further claimed that immediately one of the appellants, Anayo Nwosu, was released he allegedly made so many publications on many social media platforms, stating that he was wrongly convicted, jailed and maltreated because of the whims and caprices of Nominal Complainant.

The Court of Appeal has fixed May for the hearing of the application and for the appellants to file their responses.

The appellants in their separate appeals argued that the Lagos State High Court lacks the jurisdiction

to entertain the charge filed against them because its borders on the purchase of shares by an investor, via a private placement exercise.

They also submitted that Section 251 (1) (e) of the Constitution of the Federal Republic of Nigeria, gives the Federal High Court exclusive jurisdiction on matters arising from the operation of Companies pursuant to the Companies and Allied Matters Act. The EFCC had alleged that they fraudulently converted N855 million, being the property of Dozzy Oil and Gas Ltd, to their use, between 14 July and 31, 2008, in Lagos.

NCAA: Nigeria’s Airspace will Remain Safe weekend when he delivered a Chinedu Eze The Director-General of the Nigerian Civil Aviation Authority (NCAA), Capt. Musa Nuhu has restated the commitment of the regulatory agency to work effectively with other service providers to ensure that the Nigerian airspace is safe and that airlines operate airworthy aircraft in order to sustain and improve on existing safety record.

No accident involving scheduled airliner has been recorded in Nigeria since 2013 after the ill-fated Associated Aviation Flight 361, which crashed at the Murtala Muhammed International Airport, Lagos, killing 15 persons on board.

Nuhu said the high safety record would be sustained when there is synergy among industry stakeholders, aviation agencies and airlines, adding that the industry had only recorded one accident with fatalities in the last five years with the Quorum Helicopter crash of 2020, which killed three crew members on board.

He gave the assurance at the

keynote address at the conference on prevention of human factors in air accident occurrences organised by the Accident Investigation Bureau (AIB) in partnership with the League of Airport and Aviation Correspondents (LAAC).

“We do not want to get it wrong and we do not want to have blood in our hands. The primary responsibility of the Nigerian Civil AviationAuthority is public safety and this is what we must assure through our safety oversight and shared responsibilities with the certified entities and licensed personnel.

“We must jettison the tag of being a reactive people to that of being proactive and predictive, where we must not allow existing latent conditions including those associated with human errors to precipitate into incidents and accidents,” he said.

He said that decisions and actions are taken by individuals who play different roles in ensuring that flights take off and land safely from one destination to another.

N’Delta Group Resolves to Partner FG on Security, Others Sunday Okobi The people of the Niger Delta have resolved to partner all sincere ethic groups and governments in Nigeria to ensure national security and economic prosperity in the country.

According to a statement signed by the Secretary-General of United Niger Delta Energy Development Security Strategy (UNDEDSS), Mr. Tony I. Uranta, which was made available to THISDAY yesterday, this position was taken at the end of the 2021 first general cyber-meeting of UNDEDSS, the think-tank and voice of the Niger Delta people.

UNDEDSS maintained that: “Although Nigeria has many challenges and paradoxes, in this new age of a very deadly global plague and a national insecurity crisis that’s threatening both the global and Nigerian economies, UNDEDSS believes that it is in the self-enlightened best interests of all Nigerians that we all work together at this point in time, in sincere cooperation with all other Nigerians to attain sustainable peace, unity and prosperity.”

According to Uranta, “This is not the best of times for any sections of Nigeria to promote isolationism or populism, but that it is rather time for all to pull together towards being a country determined to let justice, equity, and rule of law be its fundamental premises.

“We recognise that there will always be extremists and nihilists seeking to destroy Nigeria, even as we see that the United States still has them regardless of the age of its democracy.

“But we can, and must ensure that good triumphs over evil; and do all we need to see the governments and the people of Nigeria rise up out of this maelstrom to position Nigeria as the great country we have always been destined to be. So help us God!” UNDEDSS concluded that the region is to this end, “going to stretch forth hands of friendship and partnership to the federal and relevant state governments as well as the peoples of Nigeria, to expedite the restoration of nationwide security, and guarantee better life for all Nigerians.”

FACTS BEHIND FIGURES...

L-R: Director-General, Office of Transformation Strategy and Delivery (OTSD), Prof. Mobolaji Aluko; Ekiti State Commissioner for Budget and Economic Planning, Mr. Femi Ajayi; Commissioner for information and Values Orientation, Mr. Akin Omole; and Chief Press Secretary to the Governor, Mr. Yinka Oyebode; during the presentation of detailed analysis of the 2021 budget to journalists and other stakeholders in Ado-Ekiti...recently

Atiku’s Ex-aide Accuses Buhari of Ingratitude Chuks Okocha in Abuja Former aide to Vice President Atiku Abubakar when he was still in the corridor of power, Dr. Umar Ardo, has flayed President Muhammadu Buhari, asking him to practice what he preaches.

He also accused the president of abandoning all those who helped him to the presidency in 2015 despite his swearing in 2011 when he lost the presidential election

to former President Goodluck Jonathan that he will no longer contest in the presidential election again.

Ardo, who was reacting to the Buhari’s comments that the elites should be fair to him in their criticisms, said: “At a time when he lost the presidential election for the third time in April 2011, and most people were running away from him, it was at that time that l patriotically braved it and

came to his support. I brought in new ideas (strategy), new vigour and contacts, and other real and tangible values to his political aspiration. I influenced him to change his political stance and agree to go to the tribunal and to contest again.

“After he agreed to contest again, I sourced for the funding of all aspects of my approved ideas. So l didn’t sell my ideas to him for money. Hence, between

April 2011, when his then party, CPC, went to the tribunal and July 2013, when the All Progressives Congress (APC) was registered, l was about his closest political confidant in the execution of the new strategy. And the result is what he is today-the president!

Undoubtedly, without me doing what I did in this intervening period, Buhari would never have been the president of Nigeria in 2015 as it turned out.”

Ohanaeze Ndigbo Faction Asks Court to Restrain Obiozor from Parading Self as President Alex Enumah inAbuja

The Uche Okwukwu-led faction of the apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, has asked a Federal Capital Territory High Court sitting in Bwari Abuja to restrain Professor George Obiozor, who was elected to succeed the Nnia Nwodo-led Ohanaeze Ndigbo from parading himself as the President General of the apex Igbo socio-political

association.

Obiozor, a former Nigerian Ambassador to the United States, Israel and Cyprus, was on January 10 declared President of the group after an election held at Dan Anyim Stadium in Owerri, the Imo State capital.

However, in a motion on notice number FCT/HC/BIU/M/14/21 brought against him and the Incorporated Trustees of Ohanaeze Ndigbo, the applicants sought an

order restraining the former envoy and his proxies or any other parading himself pending the determination of the substantive suit.

The suit, which has Chief Uche Okwukwu and Prince Richard Ozuobu as the 1st and 2nd claimants respectively, also has the President General of Ohanaeze Ndigbo and the Incorporated Trustees of Ohanaeze Ndigbo as 1st and 2nd defendants.

The claimants wants the court

to make an order restraining the defendants, its agents and servants from further holding or summoning any meeting whatsoever of Ohanaeze Ndigbo without consultation with the Secretary General as the constitution demands.

They are also asking for an order restraining Professor Obiozor from parading himself as the President General of Ohanaeze Ndigbo.

MoneyCentral Enters Financial Journalism Landscape A media firm, MoneyCentral Media Limited, has unveiled its print publication in addition to its online news, analysis and data platform.

According to the firm, MoneyCentral “is focused on the most authentic financial and business news, research and data analytics, as well as a forum with

a particular goal of reaching a younger audience.

“The first edition of the print publication which hit the newsstands on January 18, 2020, is a collection of well-researched stories, investigations, analyses and market intelligence for young people, investors,

shareholders, regulators, small and big businesses, providing them with the knowledge and information to help with their business decisions.”

The Editor of MoneyCentral’s print and online platforms, Bala Augie, said: “With MoneyCentral, there are no fillers, just deep analyses,

insight and market moving news. We are building a team of young motivated analysts, who will be producing great stories on a daily and weekly basis that would give our readers the inside knowledge to help grow their money. We believe our unique content speaks for itself.”

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˜ ͹΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

NPFL: Rivers Utd Crush Heartland to Stay Top Duro Ikhazuagbe The half-pay punishment handed out to Plateau United for starting their NPFL season sluggishly appears to be working wonders as the Jos-based club have found their rhythm recording 3-0 victory against Adamawa United in Jos. This is their second win in three matches. The players have picked seven points out of possible 12 since they were placed on half salaries.

Amos Gyang opened scores on the dot of 45 minutes with Innocent Kingsley adding a brace in the 86th and 90th minutes to seal all three points for Plateau.

Leaders Rivers United remain on top of the NPFL log after similarly

dispatching Heartland 3-1 in Port Harcourt.

Godwin Aguda fired Stanley Eguma’s men into the lead in the 18th minutes via a penalty award.

On return from the first half break, Enyinnaya Katie doubled the scores in the 64th minutes. Shedrack Oghali however pulled one back one in the 78th minute to give the Naze Millionaires any hope of sharing points at stake.

But that was not to be as Malachi Ohawuma took the game beyond the reach of the visitors from Owerri with the third goal in the 86th minute.

The Pride of Rivers people are sitting at the top of the NPFL on 12 points from five matches.

Nasarawa United that snatched 1-0 victory in Lafia against visiting

Katsina United remain second on the log with 11 points.

Lobi and Rangers are third and fourth on same 10 points but the Makurdi team are ahead on goals difference.

Kano Pillars, who suffered a setback in Aba in the hands of Enyimba,

are now fifth and a point behind Rangers.

The Flying Antelopes were forced to a 1-1 result by their hosts MFM at the Agege Stadium, stepped back from seventh to eighth, while Dakkada FC, lost two spots to place seventh following defeat at Makurdi to Lobi Stars.

Among the teams that improve their places are title holders Plateau United (12th to ninth), Sunshine Stars (14th to 10th) and Warri Wolves (eighth to 11th).

FC IfeanyiUbah, Jigawa Golden Stars, Heartland and Adamwa United make up the bottom four.

MATCH-DAY 5 Plateau 3-0 Adamawa Nasarawa 1-0 Katsina Utd Enyimba 2-1 K’Pillars Rivers Utd 3-1 Heartland Jigawa 0-0 Kwara Utd IfeanyiUbah 1-1 Abia MFM FC 1-1 Rangers Lobi 2-1 Dakkada FC Sunshine 1-0 W’Wolves

NWFL Postponed for One Month Due to Covid-19 Breaches The Chairperson of the Nigeria Women Football League (NWFL), Aisha Falode, at the weekend announced an additional one month postponement of the country’s women’s topflight league in a frantic bid to ensure strict compliance with Covid-19 protocols agreed before the season kicked off last December.

Falode, said in Lagos yesterday that the irregularities discovered during the one-week postponement of the Week-5 matches led to the decision to put the league on hold for one month.

“Feedback from the one-week suspension to allow for Covid-19 re-testing by clubs exposed flaws in complying with the NWFL directives. After due consultations, it was agreed that a further one-month period should be given to allow for due diligence by all the clubs and stakeholders for strict compliance.

“We realised that clubs were not taking enough Covid-19 protocol precautionary measures,” observed an obviously angry Chairperson of the league.

Falode, who is also a board member of the Nigeria Football Federation declared that: “Clubs and stakeholders should within the one-month period meet the

following requirements: 1. Mandatory Covid-19 tests to be carried out at governmentapproved centres and hospitals.

These tests must be sustained when the League resumes.

2. The full results of the tests, indicating where they were conducted should be forwarded to the NWFL secretariat in Abuja.

3. Results that are not from government - approved centres and hospitals will not be accepted and the affected clubs risk being suspended from the league,” Falode warned.

The NWFL Chairperson said the league board counts on the support and cooperation of all the clubs and stakeholders to make the season safe and healthy.

Aisha Falode...NWFL Chairperson

Abia Wins 2019/20 Eunisell Boot Award Rangers’ forward, Israel Abia, has emerged winner of the prestigious Eunisell Boot Award for the top scorer in the 2019/20 Nigeria Professional Football League (NPFL) season.

Instituted by Eunisell, West Africa’s largest independent chemical as well as oil and gas engineering solutions company, the Eunisell Boot Award seeks to instill greatness in players in the domestic top flight and celebrate their success story.

Abia scored 12 goals last season after featuring for Sunshine Stars as well as Rangers and becomes the fourth player to win the glamorous award.

After scoring seven goals at Akure-based Sunshine during the first half of the season, he made an ambitious

switch to the Flying Antelopes and registered five goals to continue his magical season, last term.

A lot was expected from the forward, but the Covid-19 pandemic ensured the league was halted and put an end to his goal scoring feat.

Abia will receive the reputable Eunisell Boot replica and a sum of N2,400,000, as Eunisell placed a premium value of N200,000 for each goal scored.

Junior Lokosa won the inaugural award in 2018, while Sunusi Ibrahim and Mfon Udoh were joint winners, in 2019.

Clearly, the poster boy of last NPFL season, Abia, will be decorated at a date and venue to be announced by Eunisell.

L-R: FIFA President, Gianni Infantino; Chairman, CIG Motors, Chief Diane Chang (NFF’s Auto Partners); President NFF, Amaju Melvin Pinnick and Acting President of CAF, Constant Omari at the welcome dinner to herald the 2021 CHAN in Cameroon...on Friday night

Ottasolo FC Chairman Explains Why He’s Empowering Former Footballers The Chairman of Ottasolo FC, Gabriel Davies, who has created a platform for supporting retired Nigerian footballers in need, explained at the weekend that it was his way of giving something back to the society.

Davies who is a former player of Stationery Stores FC of Lagos and Mogas ‘90 in Benin Republic insisted that his passion for the round leather game informed his empowerment programme for the retired footballers.

Speaking in Lagos at the weekend, Davies said that despite quitting football so early due to injuries, his passion for the game led to his setting up of Ottasolo Football Club of Lagos.

“Football gives me joy and I am comfortable with it anywhere. I am a former player and when I look back at my fellow colleagues, I feel bad that many are struggling to make ends meet.

“Because I also passed through this tough rough road to get where I am now, I decided to extend hand of fellowship to others from the little God has given to me from other businesses I am doing.”

Although he did not want to be dragged into the reasons why the football environment in the country fails to take care of former footballers, Davies insisted that footballers must learn to think of retirement when they can no longer be strong to remain in the game.

“So what I do now is to empower some ex-players and also guide some current players to grow well in their career. You cannot be a footballers for life.

You either retire or injury retires you from the game.

“Football as a sport has a final bus stop and when a player gets to his bus stop, he has to look elsewhere for survival.

“This is where the Ottasolo FC Empowerment All Stars is supportive of former players to give them fresh hope,” he reiterated.

Davies said through the programme, former footballers get grants and interest free loans to start life again.

“These loans are without collateral and are given on regular basis.

On Ottasolo FC that gained prominence playing in the Preseason Rivers Cup, Davies expressed joy that within a short time, the team is gradually making impact in the Nigerian football scene.

The team, based in Owode, Ogun State, has been registered as an amateur football team in the Nigerian National League as a Lagos team.

“We played in the Preseason Football Tournament just late last year in Port Harcourt and it was a nice experience.

We have seven of our players already in the Nigeria Professional Football League. They were exposed through that pre-season tournament in Port Harcourt while one is going abroad for pro career.

Chairman of Ottasolo FC, Mr. Gabriel Davies (left) presenting a prize to one of the best players of the Under-15 football tournament in Lagos last...recently

PREMIER LEAGUE

Man Utd Survive Liverpool’s Blitz to Steady Lead City leapfrog Reds, Foxes to second spot on the log

Manchester United stayed top of the Premier League with a goalless stalemate against champions Liverpool at Anfield on Sunday evening.

It was a game that failed to justify the prematch anticipation and while United manager Ole Gunnar Solskjaer may be happier with a point than

Liverpool counterpart Jurgen Klopp, he will also know they had the better chances to claim a statement victory.

In late evening’s other fixture, Manchester City defeated Crystal Palace to move up second, just two points adrift the Red Devils.

Liverpool dominated possession in the first

half but it was United who came closest when Bruno Fernandes’ 20-yard free-kick curled inches wide.

Fernandes was then thwarted after the break by the outstretched leg of Liverpool keeper Alisson before Thiago’s long-range effort finally brought the previously unemployed David de Gea into action.

Alisson was Liverpool’s hero late on when he blocked Paul Pogba’s drive from point-blank range.

The result leaves United two points ahead Man City in second.

Leicester City are third with Liverpool, who have scored just one goal in their past four league games, fourth.

PREMIER LEAGUE 47

˜ ͹΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAYSPORTS

Ndombele’s Stunning Goal Rekindles Top Four Hope for Spurs Tottenham got their topfour challenge back on track with a comfortable victory against bottomof-the-table Sheffield United.

A disappointing run of just one win in their six

previous Premier League fixtures had seen Spurs slip down the table with their inability to kill off games proving damaging.

Victory moved Tottenham up to fourth

before the late Premier League games while Sheffield United remain bottom, 11 points from safety.

Tottenham’s 1-1

draw with Fulham in their previous outing highlighted a frustrating issue with this current Spurs side - they often start well, get ahead but

th e n f a i l t o k i l l o ff a n opponent, leaving them susceptible to a late blow when their opponent ups the p re s s u re .

I f P e p G u a rd i o l a ’ s M a n City Win their late night fixture against Crystal Palace, Spurs are likely to drop to fifth spot on the log.

SERIE A

Insigne Dazzles as Napoli Demolish Fiorentina to Go Third Lorenzo Insigne scored twice and set up another as Napoli thumped Fiorentina 6-0 on Sunday to move into third in Serie A. Napoli got back to winning ways in their newly-named Diego Armando Maradona Stadium after falling to promoted Spezia in their last home match.

Gennaro Gattuso’s side came out firing despite the absence of midfielder Fabian Ruiz who tested positive for Covid-19 on Saturday. Nigerian forward Victor Osimhen was also missing.

Insigne got the first goal after just five minutes following good work from Hirving Lozano and Andrea Petagna.

Fiorentina missed three chances to equalise, twice through Cristiano Biraghi, with Napoli keeper David Ospina denying Franck Ribery before the hosts notched three goals in the last nine minutes of the first half.

Petagna found Diego

Demme to finish off, with Insigne then bursting through to set up Lozano for the third and Piotr Zielinski adding a fourth before the break.

Fiorentina could find no way past Kalidou Koulibaly and the Napoli defence.

Napoli were awarded a penalty after Gaetano Castrovilli fouled Tiemoue Bakayoko.

Insigne converted from the spot for his ninth goal this season.

Substitute Matteo Politano completed the rout with a minute to go as Napoli got a major boost before next week’s Italian SuperCup against Juventus.

Napoli move ahead of Roma who lost 3-0 to Lazio on Friday.

“We did well today because we scored all that we created,” said Gattuso, whose side are six points behind leaders AC Milan, who travel to Cagliari on Monday.

Champions Juventus, in fifth, travel to secondplaced Inter Milan later on Sunday.

TRANSFER

Juventus Want Pogba Swap Talks with Man“Paul Utd is unhappy with Man Juventus are reportedly preparing to make a move for Manchester United’s star Paul Pogba next summer, with the Serie A giants hopeful the fact that the midfielder’s contract is due to expire in 2022 will drive down United’s asking price.

Juventus have been heavily linked with Pogba and his agent Mino Raiola has claimed the Frenchman could be on the move in the summer.

Speaking in December, Raiola told Tuttosport: “I can say that it’s over for Paul Pogba at Manchester United.

Paul Pogba on Juventus radar for next summer transfer

Utd as he is no longer able to express himself in the way that he would like and as he is expected to. Paul needs a new team, a change of air.”

Raiola later clarified that a January switch was unlikely, telling Tuttosport at the Golden Boy Awards: “When it comes to him in England they are sensitive, perhaps too sensitive.

“In January, the big players hardly move, then in the summer let’s see what happens.”

Pogba has since begun to feature more regularly, starting United’s last three Premier League games and contributing a goal and an assist as the Red Devils won all three fixtures.

He has helped Ole Gunnar Solskjaer’s side go top of the table but, with his contract due to expire next summer, his future is still up in the air.

Italian transfer expert Fabrizio Romano, writing for Calciomercato, claims that Pogba’s former club Juventus are lining up a summer swoop for the 27-year-old.

The report notes that Juventus believe United will be forced to lower their asking price to ensure they cash in on Pogba before his contract expxires.

Spur’s Manager, Jose Mourinho (left) praising Tanguy Ndombele for his stunning goal against Sheffield United...yesterday

Nigeria Cricket Federation Revs up 2021 with Under-17 Activities Olu Osagie The Nigeria Cricket Federation last weekend went a step higher in its quest to drive cricket engagement in the country when it kicked off this year’s National Under-17 Championship with about 300 girls participating at regional finals across six centres.

This singular event has raised expectations of further penetration for the sport that has gained higher level of spread in the country. Nigeria earned the best country in developmental cricket on the continent (in 2019) and also got her first Cricket World Cup appearance ticket in 105 year of the game in January 2020.

On the high level of inclusion for the girl-child, Obioma Ubah, Head, Corporate Responsibility, Diversity and Inclusion leader at PwC, opined that like PwC who sponsors emerging sports like Chess and now Cricket, pushing for inclusion and gender balance in the society has to be an effort that is contained in all expressions of our national life.

“Before the 300 girls that took part over the weekend were picked, we have had multiple that showed up across the 21 states of the country that entered female teams and have to narrow the figure to 14 players that each state can present,” she added.

Continuing, Ubah argued that exposing the girl-child early to sports like Cricket help blur cultural lines that exist between the gender and can foster teamwork, better contribution and exponential outcomes.

“We have seen the dedication and continual upward projection of the game of Cricket in the country in the last three years and believe their activities align perfectly with our values as a corporate entity,” concludes Ubah.

President of the Nigeria Cricket

Federation, Professor Yahaya Ukwenya, has led a smooth season for the game despite the bumps that the Covid-19 has served social activities in the last 12 months.

Ukwenya, led Nigeria to her first ever Cricket World Cup experience in January 2020, a feat which is attributed to the focus on developing the game from the grassroots.

“Our qualifying for the first Cricket U-19 World Cup is on the back of events like this and we are very determined to keep turning the wheels of growth from here.”

The PwC sponsored National Under-17 Championship has been positioned as one of the major events that will test all the developmental efforts for the Federation in a given year.

For instance, according Ukwenya, there are Regional Developmental Officers who are tasked monthly on some Key Performance Index for states under their regions.

“We have Cricket project to schools, 9ja Kids Cricket and a couple of other innovative expressions of our Cricket

Outreach projects that are tailored to different zones.

“These and more are supported through trainings, supply of requisite equipment and funding from the Federation, including some other dynamics that can be fully discussed. All these make the National Under-17 Cricket Championship one that is key for us.”

Among other things the event, which kicked off at six different centres across the country (Oyo, Kaduna, FCT, Borno, Enugu and Rivers states) over the weekend, is a score sheet of some sort and opportunity for the Federation to tweak flaws in their development plans.

But what is even more important is that the event has become a platform for the country to see and note exceptional Cricket talents that would help the country execute the next Under-19 engagements “Since 2019” Ukwenya continued, we have had a blistering record on the continent around our age grade teams and this event serves perfectly as a funnel for the next set of players that would be drafted to take on the gauntlet

from where the World Cup team stopped.”

One other purpose that the event would serve especially for the female players is to consolidate on the effort to build a vibrant female national team and have a channel to recruit new players that would challenge the older players.

Endurance Ofem is the Chairman of the Organising Committee, and he posits that the event for the girls also helps to spike up interest in the growing national female league.

“Beyond the national team having options and giving these players a chance to feature, the new female national league will also allow them play competitive events week after week, strengthen their game and put them in different tournament conditions that would be helpful for their future”.

Ofem, a former national captain said that the PwC support for the National Under-17 Cricket Championship has been very pivotal to the game being able to reach more areas of the country.

Umpires at the South West Regional finals for girls in the ongoing National Under-17 Cricket Championship at the weekend

Monday January 18, 2021

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APC Group to Kwara Ministers

“Those ministers and association of failed governorship aspirants can come to Abuja to say nonsense but they are just paper-weight politicians.

They have no influence at the grassroots” – Chairman of Kwara APC Elders’ Forum, Kunle Suleiman, describing the Minister of Information, Alhaji Lai Mohammed and t Minister of State for Transportation, Senator Gbemisola Saraki as paper-weight politicians.

OKEYIKECHUKWU Echoes of the Ohanaeze Elections EDIFYING ELUCIDATIONS

okey.ikechukwu@thisdaylive.com

A

n epidemic of Ohanaeze Presidents General is not the way to go.

Who knows, there may even be more such Presidents Generals waiting to pop out of every street corner. So, watch out: One may spring forth right behind your house. The call here is for Igbo stakeholders of all political persuasions to work towards avoiding a situation wherein several masquerades of stature that are already in the village square are so badly managed that they begin to fight over Right of Way before women and children. This is what could lead to a profanation of the mysteries of the masquerade cult. It may get so bad that even children who should be afraid of the “spirits” in the masquerades could one up to one of them, shake hands with it and say: “Uncle Chike, I want pure water.” Mbanu!

Ndigbo say that a person who is in a daze and who is staggering and swaying while on his feet is never given the title of “The Pillar that Holds the Edifice” (Onye aju na ebu anaghi aza ide ji uno”). The reason is obvious! Igbo will also tell you that the vulture and the eagle do not fight over food (Ugo na udele anaghi azo nri); because one is a scavenger, while the other is a grade one predator. It is also a known fact of the Igbo world that no family, or kindred, of yore would send out its mad offspring to represent it in the village square as “The Voice of the People” (Onu n’ekwuru oha).

These proverbs show that Ndigbo have a set of core values that make a clear distinction between the sublime and the ridiculous. It is also within the context of the foregoing that we must remind ourselves that “No big masquerade announces itself.” The glory of the big masquerade (ebube nnukwu nmanwu) is self-affirming. There always is something wrong when several masquerades announce their ontological primacy.

Which is not to contest the fact that the old Igbo worldview is under pressure.

It is now a world where you hear “He who brings kolanut brings life” uttered by many who do not know the meaning of the statement. The kolanut ceremonies emphasise the interdependence in every community and among all living things.

That is why it is said: “May the river not dry up and may the fish not lack water to swim in.” The river’s beauty is enhanced by the presence of the fish, while the life of the fish depends on the steady flow of the river. Ndigbo also pray thus before eating the kolanut: “Elders shall live and the young shall live. Our harvest shall be rich and none shall pray for the misfortune of another, lest his farm be the only patch of earth without rain,” etc.

Because this prayer is the first event in every serious gathering of Ndigbo, it is easy to see that the people were always organised; with a mature sense of community and social responsibility. What the Igbo traditional political system lacked in absolute monarchy comes as a republicanism that uses the council of elders, titled men, age-grade associations, etc., to arrive at consensual decisions. Those who use the saying “Igbo enwe eze” (Ndigbo do not have kings/Igbo are not ruled by kings) to suggest that Ndigbo are traditionally ungovernable people should

George Obiozor please note its true meaning and import: “No single feudal authority is allowed by the traditional Igbo leadership structure to visit tyranny on the community unchallenged.”

That is why you have the Igbo saying that when your talisman begins to presume to have a life of its own, and to even presume to oppress and terrorize you, then it is time you showed it the tree from which it was made. Instead of “disrespect for constituted authority” the way some people try to misrepresent “Igbo enwe eze” today this saying means this: The collective will and rights of the people should be invoked to remind anyone with tyrannical aspirations that a hero is always a people’s hero. That is also why Ndigbo say that “A masquerade that flogs its drummers and followers ceases to dance, because it then walks alone”.

From the foregoing it should be clear that the Igbo concepts of power and authority rest more on respect for the laws of the land, and respect for those who rise by merit while respecting the laws of the land.

That is also why the true Igbo concept of success is always linked with respect for Omenala (The laws of the land); as the

ultimate determinant of right and wrong.

That is also why Ndigbo say that it sometimes becomes necessary to cover your face and walk up to a leader and tell him a few home truths. The idea of covering the face with a basket is not out of fear for the life of the person who decides to speak out. Whereas tradition forbids anyone to just walk up to the community leader and insult him, only one who is sent by the community may do so. Once sent, you no longer represent yourself. The human being is presumed to have transcended this world once dressed up as a masquerade. The covering of the face allows this mysterious being from the beyond, speaking for the gods and men but using the voice of a man, to do so to any unworthy occupant of an office.

It is against the background of the foregoing that Ndigbo make a distinction between heroes and charlatans. An Igbo hero is not a violator of the laws of the land, nor an oppressor of the people. A hero for Ndigbo shows courage and the readiness to make sacrifice for the common good, when faced with danger and adversity. A charlatan, on the other hand, is a never-do-well (onye ome k’ome), whose exercise of courage and dare devilry is always for self-interest. The major trademark of the traditional Igbo charlatan is that nothing he does can ever lead to sustainable development, or a healthy communal, religious or Family life. But he may impress the uninformed or mislead those who are on the fringes of social and spiritual morality. He parrots parrot proverbs like: “The goat only follows the person who is carrying its preferred green leaves” – which is palm fronds (Ewu na-eso onye bu igu).

This statement is true, but it applies only to goats and to whoever behaves like a goat.

Such sayings were originally admonitions against thoughtless materialism and immorality. Today it is freely used to justify irresponsible leadership and followership.

Meanwhile, it is not true that only the person who offers immediate material satisfaction deserves loyalty. In the traditional Igbo society, where the cardinal communal philosophy says: “The human being is not a goat” (nmadu abughi ewu), the person who exhibits the

Igbo leaders must bear in mind that there is a desperate need to fully incorporate the people (OHA) into the defining essence of Ohanaeze Ndigbo. Who likes to feel taken for granted? Who likes not to be consulted, or noticed, as being part of what is going on around him? Does the average Igbo like to feel hurried, or tricked, into a decision?

Which of the persons who were visible actors in the Ohanaeze events of the last two months would like to be a mere appendage in an event he felt he ought to influence?

irrational reflexes of a goat stands diminished.

The fact that this proverb and others like it have become the most popular in Igboland in recent times shows that the region may well have been taken over by the dregs and never-do-wells in our society. Those who will do everything possible to turn our values upside down!

One of the many conclusions that can be drawn from what has just been said is that Ndigbo know the difference between heroes and charlatans. Another conclusion, and one that is being pushed in some political circles, is that some charlatans are conniving with the wider Nigerian society to hold the South East to ransom. True or not, the question remains: Why is such a remarkable people, with their cosmopolitan and innovative achievers, in this sorry pass?

The ongoing drama, following the Ohanaeze elections, has occurred with similar organisations in every geopolitical zone in the country. It also does not necessarily follow from this is that the affected organisations and zones are morally and politically unreliable; or that the lack the needed level of political consciousness for group survival. What needs to happen is for Igbo stakeholders to seek and obtain consensus and rein in dissenting voices, via deal that everyone can live with. Ndigbo need not lose face in national politics because of this. This is not the time for (real and imagined) non-inclusive political conspiracies. Let it not be, or turn out, that Ndigbo will appear unstable at home and are also deliberately misrepresented at the national level. It is time to move from leadership charlatanry to a strategic response that would create a new profile.

The fundamental focus should be to restore the values of effective/responsible leadership and followership. Only an accommodating, large hearted and forward-looking leadership consensus can create such badly needed group solidarity today. It is time to say: “Thus far and no further”.

Igbo leaders must bear in mind that there is a desperate need to fully incorporate the people (OHA) into the defining essence of Ohanaeze Ndigbo. Who likes to feel taken for granted? Who likes not to be consulted, or noticed, as being part of what is going on around him? Does the average Igbo like to feel hurried, or tricked, into a decision? Which of the persons who were visible actors in the Ohanaeze events of the last two months would like to be a mere appendage in an event he felt he ought to influence? Which of them will not like to air his opinions and be acknowledged as a person, a contributor, or facilitator? Has the Igbo spirit of competition and visible, effective and dramatic engagement not suffered a setback? Who likes to give up fair/open processes for one in which he feels derided, insulted, or cheated? For a people who are fundamentally republican and who sometimes celebrate success, even to the point of self-inflation, the various contenders must now sit down and talk.

I leave every contending group to make its own inferences, knowing that the prevailing perspective at the moment is such that no one wants to be told what to think. But we need an end to the show of shame.

Ekwuchakwaa nu m!

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