THURSDAY 18TH JANUARY 2024

CBN Uncovers Gross Violations of Market Regulations, Vows Sanctions

Restates commitment to clear legitimate FX backlogs Says settlements with foreign airlines underway

James Emejo in Abuja The Central Bank of Nigeria

(CBN), yesterday said it found grave infractions, gross abuse and significant non-compliance with

market regulations by operators in the foreign exchange segment.

The revelation followed a forensic

review conducted by a reputable independent firm which was commissioned by the apex bank.

The central bank said it would mete out appropriate sanctions against the violators in collaboration

with relevant agencies.

Continued on page 10

Kyari Links High Cost of Crude Oil Production in Nigeria to Insecurity, Others... Page 5 Thursday 18 January, 2024 Vol 28. No 10508. Price: N400

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NERC: FG Has Decided to Continue Subsidy Payment Until Economy Improves... Page 12

Federal Court Quashes Regulation Empowering NBC to Fine Broadcast Media Alex Enumah in Abuja

A Federal High Court in Abuja

yesterday declared as null and void the provisions of the Nigeria Broadcasting Code authorising the National Broadcasting Commission

(NBC) to impose fines on broadcast stations which allegedly breach the code.

Justice Rita Ofili-Ajumogobia

quashed the said regulation on the grounds that the NBC as an administrative and regulatory body could not exercise judicial powers.

She made the declaration while delivering judgment in the suit filed by the Media Rights Agenda (MRA) against the NBC.

The suit was sequel to the commission’s imposition of fines Continued on page 10

Wike: We Must Stop Paying Ransom to Kidnappers, Bandits FG declares crowdfunding for ransom in kidnap cases against extant laws Rise in criminal activities demands immediate, resolute action from all, says IG Inaugurates special intervention squad for battle FCTA to compile list of illegal settlements, shanties

Deji Elumoye, Kingsley Nwezeh and Olawale Ajimotokan in Abuja

The Minister of the Federal Capital Territory (FCT), Nyesom Wike,

yesterday, cautioned the public against the practice of paying ransom to bandits and kidnappers, because Continued on page 10

OTEDOLA VISITS DANGOTE REFINERY...

Chairman of Geregu Plc, Mr Femi Otedola (L) and President of Dangote Group, Alhaji Aliko Dangote, during their visit to the Dangote Refinery, the world’s largest single train petroleum refinery which recently commenced production … yesterday

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T H I S D AY • THURSDAY, JANUARY 18, 2024

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

SERVICE OF SONGS FOR THE LATE ABDUL IMOYO OF ACCESS BANK...

L-R: Managing Director/CEO, Access Bank Plc, Roosevelt Ogbonna; daughter of the deceased, Morayo Imoyo; son of the deceased, Teniola Imoyo; widow, Folashade Imoyo; Chief Executive Officer, Access Holdings PLC, Herbert Wigwe; brother of the deceased, Tunde Imoyo; son of the deceased, Timilehin Imoyo and sister-in-law to the deceased, Mrs Arit Tunde-Imoyo, during the Service of Songs PHOTO: SUNDAY ADIGUN for late Abdul Imoyo at Harbour Point, Victoria Island, Lagos... yesterday

Kyari Links High Cost of Crude Oil Production in Nigeria to Insecurity, Others Seeks collaboration between academia, industry for energy sufficiency

Emmanuel Addeh in Abuja The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, yesterday attempted to dissect the challenges in the Nigerian oil and gas industry, blaming the high average cost of production per barrel on insecurity and other sundry issues.

Kyari was a guest speaker during the 2024 Faculty of Science Lecture at the Obafemi Awolowo University (OAU), Ile-Ife. He spoke on the topic: “Energy Security, Sustainability and Profitability in Nigeria: Advances, Challenges and Opportunities.”

The GCEO maintained that businesses will always respond to the environment, stressing that no businessman will invest in a place unless value is being created there.

Arguably, Nigeria is regarded as the country with the highest per barrel cost of production, despite efforts by the authorities to reduce it in the last few years. Every year, operators set aside massive budgets for security of assets, settlement of community troubles, multiple taxation, among others.

“The reality is that the oil and gas industry, behaves in such a way that wherever you put your money to create value, a number of things must come to play.

“First, you must have a secure environment. Security means everything to the oil and gas sector. Insecurity doesn't stop oil

and gas industry from operating.

They (oil companies) operate in Afghanistan, any country that you know there's conflicts, but what it does is that it adds a premium to the cost of production. “ In our country today, when businesses come here from other countries , they know what would cost $100 in one country, you probably want to add another $30 in this country .

“This is because they think that the risks of exposure of these assets is very high. Secondly, there must be a fiscal environment that supports it. This means that our laws, business of taxation, collection of government dividend from the business, in any form, whether taxes, royalties, company income tax, companies will always sum it up for them to say , do I put $100 in this country?”

According to him, these challenges always play out, negatively impacting the creation the resources required to build infrastructure and by extension prosperity.

He stated that the subsidy removal policy was a good thing since operators are now going back to site, stressing that if these matters are not resolved, achieving energy sustainability will be a major challenge.

“Typically in our industry, when you invest, capex recovery is a minimum of five years and for you to get all the benefits that you desire from your investment is probably 10 years.

“Therefore, if they (investors) cannot have a line of sight around fiscal stability, political stability for 10 years, people will always doubt whether they should put their money here. And when they do, they will put a premium beyond what you expect because they don’t have to wait for five-10 years, because they can do it in three years.

“And therefore, you will see continuous decline in investment.

And that is also connected to the continued inability to provide energy for the people,” he added.

But he stated that things were changing with the new operating

environment, from a situation where if 100 barrels were produced only 10 got to the terminal, stressing that if that condition prevails, no new capital will come into the country’s oil and gas sector.

Kyari also called for collaboration between the academia and the oil & gas industry towards addressing the challenges of energy sufficiency and sustainability.

He highlighted the important role academic communities, such as OAU, play in safeguarding national energy security through research and collaboration with the industry.

While pointing out the challenges hindering energy security in Nigeria

include rapid population growth, pipeline vandalism, and crude oil theft, Kyari identified energy conservation, diversification, and efficiency measures as major avenues for enhancing energy security.

The GCEO observed that the issues have impacted NNPC's operations, stressing that the establishment of a commandand-control centre had aided the detection and destruction of illegal refinery sites, removal of illegal connections, thereby addressing vandalism across operating corridors since 2021.

“The centre provides livestream-

Expert Backs NNPCL’s Call for Expression of Interest to Manage PH Refinery Emma Okonji Partner at Commercial and Energy Law Practice (CANDELP), Israel Aye, has supported the recent call by the Nigerian National Petroleum Company Limited (NNPCL) for the Expression of Interest (EoI) from qualified oil and gas firms to partner the national oil company in operating the refurbished Port Harcourt refinery.

The move, he insisted would enhance the value of the asset after resuscitating it to an appreciable

level.

Aye, who spoke against the outright sale of the refinery as being canvassed by former Vice President, Atiku Abubakar, and some other business moguls in Nigeria, said selling the Port Harcourt refinery without investing to resuscitate it, would not be an easy task as most Nigerians think, given its huge indebtedness running to over $1.5 billion.

Aye who spoke yesterday, on the Morning Show on ARISE NEWS Channels, the broadcast

arm of THISDAY Newspapers, noted that there had been attempt by previous governments to sell Nigeria’s refineries, but it was not as easy as the government officials thought.

He said it would be easier for private oil and gas firms to build their own refineries than to buy Nigerian refineries that had been operating below capacity for several years, without first refurbishing them.

He gave an analogy of a car owner who would rather refurbish

NECA: Rising Inflation Rate Detrimental to Economic Activities

Dike Onwuamaeze

The Nigeria Employers’ Consultative Association (NECA) has decried the persisting rising inflation rate in the economy, saying it was becoming detrimental to economic activities in the country.

The Director General of NECA, Mr. Adewale-Smatt Oyerinde, stated this in a statement yesterday, titled, “Rising Inflationary Rate: NECA Calls for Drastic Review in Policy Stance.”

Oyerinde, noted that, “an inflation rate as high as 26.84 per cent is very harmful to the economy. There is no doubt that households’ real incomes have been grossly eroded within this period while firms’ working

capitals have significantly reduced.

“The high inflation rate has also negatively affected almost all business metrics in terms of capacity utilisation, production, sales, profit, and employment.”

He stated that a moderate inflation rate between 3.0 and 5.0 per cent was healthy to any economy, “but at double digits, it becomes detrimental to economic activities. The average inflation in the economy from July to December 2023 was 26.84 per cent.”

The director general opined that the reason for the persisting high inflation rate in the economy could be explained with the tragic relationship around exchange rate, interest rate and then inflation rate,

ing of surveillance data to security forces, contributing to the detection and destruction of over 5,686 illegal refinery sites and the removal of 4,480 illegal connections from 2021 to the present,” the GCEO added.

Acknowledging the severity of vandalism and oil theft, Kyari hinted at a strategic shift, focusing on increased product trucking and storage in underground tankages at NNPC filling stations nationwide.

He highlighted NNPC's expanded retail assets, making it the largest single downstream company in sub-Saharan Africa after acquiring OVH retail stations and associated downstream infrastructure in 2021.

and the implication on investment.

He said: “Today, the Naira exchange rate stands at N1300/$1 in the parallel market and N878.55/$1 in the I&E window, which feeds into inflation.

“The monetary policy is at 18.75 per cent just to maintain an appreciable real interest rate to drive investment. Again, there is the current monetary tightening by the central bank through the reduction of the volume of money in circulation, which is also driving prices upward.”

Oyerinde stated that, “it is evident, that the rising food cost would further put a strain on household budgets, elevate food insecurity and

lower standard of living.

“Thus, immediate action is required to reverse the trend. Effective solutions that support Nigeria's food security and stability must be developed and implemented.”

To address the high and rising inflation in the economy, he posited that, “it is important that CBN entrenches and sustains productive FX management through adequate intervention in the forex market; the monetary authority should also adjust its current reduction of money in circulation to an optimum quantum that will stabilise the economy; government in broad terms should be proactive in its promises for agricultural production

as contained in the 2024 budget.”

He advised that there is also the need for the government to embrace backward integration and resourcebased industrialisation to improve food and domestic production of raw materials.

“This will reduce the importation of food-related items and raw-materials items to save up FOREX for the economy.

“Furthermore, the government should ensure that peace is brought back to the nation's crisis-ridden areas, invest in sustainable agricultural methods, and upgrade infrastructure to increase food production and tame the pace of food price increases,” Oyerinde said.

his car before selling it in order to have good value, than to sell the car as scrap and get very low value for it.

According to Aye, refinery business was about economies of scale, while stressing the need for proper regulation of the downstream oil sector to enable investors to have good return on investment and be able to make good business margins.

Asked if it would be easy to get investors with N2 billion annual turnover as partners to manage the Port Harcourt refinery as stipulated

by NNPCL, Aye said getting partners with N2 billion annual turnover could be a tough one, but insisted that any partner that willing and qualified to invest in Port Harcourt refinery, must be highly accountable to the people and must come with full disclosure because they could no longer conceal details of transactions at that level, even if confidentiality exists.

Asked if it makes business sense and if it was attractive for private firms to partner NNPCL in managing Port Harcourt refinery, Aye said it would be difficult to say whether it would make business sense for private investors to partner NNPCL in managing Port Harcourt refinery because the success of the partners would depend on the business model of the partners. He however said the government needed to do more to boost the interests of investors that are willing to invest in Nigeria.

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camaraderie at fec...

L-R: Minister of Solid Mineral Development, Oladele Alake ; Minister of Industry, Trade and Investment, Doris Uzoka-Anite; Minister of Power, Adebayo Adelabu and the Minister of Aviation and PHOTO: GODWIN OMOIGUI. Aerospace Development , Festus Keyamo, at the first Federal Executive Council meeting held at the Council Chambers of the Presidential Villa, Abuja….yesterday

FEC Expresses Concern Over Rising Cost of Goods, Services in Nigeria Brainstorms on improving business environment Moves to crash cost of pharmaceuticals, halt brain drain Deji Elumoye in Abuja The Federal Executive Council (FEC) yesterday expressed concern over the rising cost of goods and services across the country.

This is just as President Bola Tinubu mandated the Presidential Council on Industrial Revitalisation, as well as the Presidential Council on Fiscal Reform and Tax Policy Review to fast-track their reports and come up quickly with recommendations to grow the real sector.

Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, disclosed these while briefing newsmen after the maiden 2024 FEC meeting presided over by Tinubu at the Council Chamber of the State House, Abuja.

"Today (Wednesday), council noted the rising cost of goods and services in the country, as well as the rising cost of doing business in Nigeria and also noted the excitement and optimism of the real sector that the Renewed Hope Agenda will bring a prosperous 2024.

"We deliberated on how we can actually improve the business environment for manufacturers and industrialist. As you’ll recall, the priority of this government is to promote and protect local industries and manufacturers and this will mean that we must do all that is necessary to remove all the roadblocks and bottlenecks impeding or impacting businesses,” she said.

According to her, the president has always reiterated that Nigeria is open for business and that there are no more roadblocks, including multiple taxation, multiple levies, customs duties and various levies that are imposed on businesses, infrastructure decay, including power.

She explained that Tinubu had earlier set up several committees for the purpose of revamping the economy, stressing that the government will be implementing policies that will jumpstart the economy again.

"For this to happen, we have been mandated and charged to come up with the resolution from those

committees as quickly as possible and when this is implemented, we expect to see more creation of jobs, drop in prices of goods and services, and a total revival of the economy.

“We assured the FEC that we will do all that is necessary to come up with the resolution as quickly as possible so that Nigerians can begin to enjoy the shared prosperity and the Renewed Hope Agenda in 2024," the minister added.

Also commenting on ratification of the Investment Promotion and Protection agreements between Nigeria and the UAE, Uzoka- Anite said with the approval, the document can be sent to the lawmakers for ratification.

"The council also approved that the Minister for Industrial Trade or Investment should also immediately invoke Article 26 of that agreement, which mandates that we can review and amend some sections of the IPPA to conform with the current IPPA model that we're using, which is a 2016 model.

"So that has been approved for

ratification and we will immediately proceed to invoke the section that will enable us to review and amend the sections that were not originally viewed to be favourable," he explained.

On his part, the Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, told reporters that so many issues discussed at the council meeting were geared towards improving the welfare of Nigeria and Nigerians.

"One of the major issues discussed was the issue of double taxation and encouraging foreign direct investment. This time around, it's about the relationship between the Nigeria the United Arab Emirates.

"You'll recall that a while ago, the president was in the United Arab Emirates and one of the matters that came up for discussion and negotiation is the agreement for the elimination of double taxation with respect to taxes on income, and prevention of tax evasion and avoid avoidance.

"The council noted that the agree-

NASS Affirms Commitment to Strengthening Regulatory Framework to Enhance Safety of Depositors’ Funds NDIC reassures customers of safety of financial sector

Nume Ekeghe

The Chairman, House of Representative Committee on Insurance and Actuarial Matters, Ahmed Usman Jaha, has restated the federal government’s commitment to preserving financial stability.

He emphasised that the committee would take a proactive stance in formulating regulatory frameworks and providing support to the Nigeria Deposit Insurance Corporation (NDIC) to effectively safeguard and secure depositors' funds in Nigeria.

This was just the Managing Director/Chief Executive Officer NDIC, Bello Hassan, noted that the financial indicators of the banking industry showed the robustness of the sector.

They made the respective remarks at a retreat organised by the NDIC to deliberate on the theme, ‘Maintaining a Resilient and Stable Banking System: The Role of NDIC,’ in Lagos yesterday.

Jaha, noted that with a significant number of new members, comprising over 75 per cent of the committee in the 10th Assembly, there was the pressing need for the lawmakers to gain a comprehensive understanding of the intricacies of the insurance sector, adding that the retreat, would equip members with the knowledge required to contribute meaningfully to the sector's advancement, particularly in ensuring the safety of depositors' funds.

He explained: “As Chairman of the House Committee on Insurance and Actuarial Matters, I am deeply committed to the advancement and oversight of the insurance and banking sectors in our country. I believe that the stability and resilience of our banking system are fundamental to the overall economic well-being of Nigeria.

“The role of NDIC in safe guarding the interests of depositors, maintaining financial stability, and promoting public confidence in the banking sector cannot be overstated.

“It is therefore imperative that we, as representatives of the people, engage in meaningful discussions and collaborations with the NDIC to ensure the effectiveness of this mandate.

“This retreat provides us with a valuable opportunity to engage in insightful discussions share knowledge, to gain a deeper understanding of the challenges and opportunities facing the banking and insurance industry.

“By doing so, we can collectively develop informed policies and strategies that will promote a stable, resilient, and inclusive banking system for the benefit of all Nigerians.”

He added: “The committee is first collaborating with the agency and all various agencies that provide some kind of financial safety net in the country and even beyond to make sure that the committee has provided the required legal framework for such regulatory agencies to succeed.

“NDIC as you are all aware provides the safety of depositors funds and promotes depositors' confidence in the financial system in the country. So, the committee is ready when given the required knowledge and development, to collaborate with NDIC to make sure that we have succeeded in achieving that.”

Speaking further on confidence in the banking sector, he said: “As far as we are concerned and as far as the effort of the NDIC, particularly in trying to protect depositors' funds and various banks, I am optimistic that we will not have a lot of issues.

“From my understanding, NDIC is doing everything it takes to protect depositors' funds in our various financial institutions.”

On his part, Hassan said: “This theme is apt given the determination of the federal government towards achieving sustainable growth by strengthening the financial sector to boost economic growth.

ment between both countries, that is, between Nigeria and the United Arab Emirates include personal income tax, company income tax, petroleum profit tax, information technology levy, tertiary education tax and capital gain tax.

“Because of the effect of this cooperation or the benefits that will accrue to Nigeria, the council agreed and directed that the agreement that had been signed already should be taken further by mandating or authorising the Attorney-General and Minister of Justice to prepare a bill along this line to take to the National Assembly for ratification,” he stated.

Fagbemi added that effect of this is that it does cease to be an ordinary agreement, but an agreement between two countries which other nations can emulate.

"Apart from this, one has also decided that going forward, we should also have a very solid national policy on taxation that will drive or attract foreign investment,” he added.

Also at Wednesday's FEC meeting, Tinubu approved three resolutions aimed at strengthening the health and social welfare sector to better deliver to Nigerians.

Minister of Health and Coordinating Minister for Social Welfare, Prof. Ali Pate, who disclosed this to reporters said the steps are targeted at relieving the escalating cost of pharmaceuticals, funding of health sector regulatory bodies and mitigating the human resource flight in the sector.

To him, the decisions, one of which would be codified into an executive order for effective implementation, puts to the human capital, health and social welfare of Nigerians at the centre.

According to him, the executive order aims to enable local drug manufacturers to thrive, while ensuring fair pricing of essential medicines explaining that this became necessary following the exit of major multinational pharmaceutical companies from Nigeria, reducing competition.

He said: "Today, at the FEC, Mr. President took three far-reaching decisions relating to the health sector.

“The first is on the rising cost of pharmaceuticals, the hike in prices that we have in the pharmaceutical, which is going beyond the reach of many Nigerians, life-saving commodities, devices like syringes and needles and the exit of major companies from our market.

“Those decisions also include the

regulation of the sector to protect the health and well being of humans and the third decision is regarding how we deal with the crisis of human resources in the health sector.

“The first on the syringes, drugs, pharmaceuticals and other devices, as you’ll recall, Mr President, in his wisdom, at the end of last year, in October, approved an initiative to unlock the healthcare value-chain and appointed coordinator for that.

“But we know that the price of pharmaceuticals have escalated and many entities have decided to withdraw and some of the local manufacturers in Nigeria are struggling.

“The president's intent is that we begin to take steps to enable the local manufacturers to survive, to thrive and to deliver the basic commodities that are key to saving their lives.

“And he directed that the Attorney General of the Federation work with us to come up with an executive order, which is the mechanism through which he will act, given the concern that he has that many Nigerians are suffering from the costs of pharmaceuticals, as well as other devices.”

Pate also said to strengthen healthcare regulation and protect citizens, key regulatory bodies including the Medical and Dental Council of Nigeria (MDCN) will continue to receive funding exception from cuts impacting other professional associations.

Also, to address the shortage of healthcare workers, Pate said council has delegated approval of recruitment waivers to the Health Ministry directly, explaining that this will accelerate hiring and reduce delays.

“The third is regarding the acute human resource shortage that we have. We know and having gone around many of our hospitals, particularly federal tertiary hospitals, the replacement of health workers that leave oftentimes takes a very long time because waiver process takes several stages.

“Mr President directed in council that the approvals of those waivers be delegated to the Federal Ministry of Health and Social Welfare so that it doesn’t have to go through the Office of the Head of Civil Service of the Federation.

“That will hasten the recruitment of health workers in terms of those who are out there unemployed, within limits of their fiscal resources,” he further said.

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BISI AKANDE'S BIRTHDAY DINNER...

L-R: Chief of Staff to the President, Femi Gbajabiamila; Secretary to the government of the Federation, George Akume; APC National Chairman, Abdullahi Ganduje; Wife of the Vice President, Nana Shettima; First Lady, Senator Oluremi Tinubu; President Bola Ahmed Tinubu; celebrant, Bisi Akande; celebrant's children; Speaker House of Representatives, Tajudeen Abbas; Deputy Senate President, Jubril Barau and others during Chief PHOTO: GODWIN OMOIGUI Akande's birthday dinner at the Presidential Villa Abuja...Tuesday night.

FG Approves Over N5.1bn for 185 TETFund Research Grants

Kuni Tyessi in Abuja

The federal government has approved the sum of N5,128,180,623.63 for the funding of 185 successful research proposals under the Tertiary Education Trust Fund (TETFund) National Research Fund, NRF 2023 Grant Cycle.

The approval was in continuation of efforts aimed at boosting research and development for economic and technological development in Nigeria by the President Bola Ahmed Tinubu’s administration.

The approval, which was conveyed by the Minister of Education, Prof. Tahir Mamman, followed the report of the TETFund National Research Fund Screening and Monitoring Committee, NRFS&MC, which recommended the funding of the 185 research proposals after a rigorous screening exercise that commenced in March 2023 with the receipt of 4,287 concept notes from prospective applicants.

A statement to this effect by acting Director, Public Affairs of TETFund said: “A breakdown of the approval indicates that the sum of N3,784,635,923.00 was approved for the Science, Engineering, Technology and Innovation (SETI) thematic group; N759,875,400.00 for Humanities and Social Science (HSS) while Cross Cutting (CC) received N583,669,300.63 with individual grants ranging between N8 million

and over N46 million.

“Some of the approved research works under the Science, Engineering, Technology, and Innovation (SETI) thematic group include Application of the Hydro-Biogeochemical Framework to Develop a National Rural Water Quality Assurance Plan for Sustainable Water Quality Management in Nigeria; Develop-

ment and Use of Doubled Haploid Maize Lines for Improved Maize Yield and Tolerance to Armyworm (Spodoptera Frugiperda); Development of an Intelligent Multichamber Evaporative Cooling Preservative System for Post-Harvest Storage of Selected Fruits in Nigeria; and Development of Electric Vehicle With Special Tracking Features,

among others.

“Projects under Cross Cutting thematic group include Utilisation of Scrap Tires and Plastic Wastes as Aggregate Conductive Material for Renewable Energy Storage System; Development of Appropriate Technology for Production of Aluminum Alloy Sacrificial Anodes for Applications in Nigeria Oil

Minister of Sports Development, Senator John Owan Enoh has said the federal government would place entertainment and culture at the forefront of sports development in Nigeria.

This was even as the Chairman/ CEO, Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri- Erewa, stressed that sports development in Nigeria would go a long way if those in the Diaspora are carried along through knowledge-sharing, expertise, skills and investment in the sector.

Speaking at a reception ceremony organised by NiDCOM for the National Basketball Association (NBA) legends, “Lisa Leslie and Chinenye Ogwumike” in Abuja on Tuesday, Enoh said: “It is not just about their talent but collaborating cultural exchange; sport sector will not have made

Well-being in Nigeria; Equity and Inclusion: Creating Access to Library Resources for Students Living with Vision Impairment in e-Learning Environment in Nigerian Universities and Mitigating Post-Traumatic Stress Disorder among Frontline Nigerian Army Personnel using Stress Inoculation Therapy; and Others,” the statement read.

Tinubu’s Reforms Causing Untold Hardship to Millions of Nigerians, Says Former MPC Member Dike Onwuamaeze

A former member of the Monetary Policy Committee (MPC), a respected intellectual and Professor of Economics and Public Policy, Prof. Akpan Hogan Ekpo, has expressed concern that the implementation of President Ahmed Bola Tinubu’s bold reforms in the spirit of “Renewed Hope Agenda” was resulting in untold hardship to millions of Nigerians.

Ekpo, who is a professor at University of Uyo, Akwa Ibom State, and former director general, West African Institute for financial and Economic Management (WAIFEM), expressed his concern in an essay he penned titled, “The Nigerian Economic Crises: Before It is too

Late,” in which he stated that the economic philosophy that could ensure urgent recovery is developmental state economic blueprint, which implied the visible hand of government in economic activities.

The former Vice Chancellor of the University of Uyo said: “My concerns center on the pieces of advice given to President Tinubu in implementing his Renewed Hope agenda under the so-called ‘bold reforms.’

“The implementation has resulted in untold hardship to millions of Nigerians who were already suffering under the tenure of former President Muhammadu Buhari.

The ‘reforms’ are not in the interest of the working people and other

vulnerable groups.”

The economist pointed out that, “the private sector may reap some of the benefits from the current intervention by government. However, while the private sector is one of the engines of growth, it is not an engine of development. The primary objective of the private sector is to realise returns on its investment.

Development is the main objective of government.”

He, therefore, advised that, “Tinubu’s economic team should not allow, as it is happening, businessmen and their various pseudo-organisations to become policy-makers. Their motive is essentially profit making and accumulation for themselves and

FG to Prioritise Entertainment, Culture in Sports Development, Says Minister

Michael Olugbode in Abuja

and Gas Industry; Development of an Economical Low Voltage Programmable Electroporator and Investigation of Pulse Electric Field for Wound Healing and Cancer Treatment; etc.

“Approved under Humanities and Social Science are Digital Financial Inclusion, Rural Households’ Consumption Structure and

significant improvement without combination of entertainment and culture of our people and I am here to promote that.”

The Minister said both legends were in Nigeria to provide invaluable guidance to reinforce cultural, social, political, and economic ties between the United States and Africa, and promote trade, investment, and educational exchanges between the United States and Africa.

He said, “Beyond football we have several sports: What I am trying to do is balance that beyond football, we have other sports, this is not about football therefore, this is about basketball.

“I am glad this is happening now that the U.S. President considered this as best time to send Leslie and Chiney to three African countries, it is good Nigeria is listed among the three.

“In terms of the NBA and the

Women’s NBA (WNBA), Nigeria performing talents have been incredible, notably in the increase of talents and their contribution.”

NBA, a professional basketball league in North-America is composed of 30-teams, as major sports league in the U.S. and Canada. It is considered the premier basketball league in the world.

Leslie and Chiney are members of the inaugural President Joe Biden’s Advisory Council on African Diaspora Engagement in the United States.

Also speaking at the reception, the Chairman/CEO, of NiDCOM, commended Leslie and Chiney for their passion to grow sport talents in Africa, describing the likes of Leslie and Ogwumike as strategic and important for the advancement in sports development in Nigeria since they were embedded with skills and resources to groom home-grown talents as a way of volunteerism

and giving back to Nigeria.

She noted that there would be lots of engagement with the duo to promote growth of sports talent not just in Nigeria, but Africa at large.

She added: “We believe as Africans you are diasporas, if we cannot make Africa the way it should be as a continent, the world will continue to look down on us as black people.

“So, it doesn’t matter where you are, let us do all we can for the beauty and benefit of this continent.

“We will continue to engage with you and we hope that the NBA Vice-President Africa, Gbemisola Abudu will do a lot more while here in Nigeria.”

On her part, Abudu said since the establishment of the Council in Nigeria in 2022, there had been no opportunities to have the NBA legends in the country.

Continues online

their families by capturing the state.”

Ekpo stressed that, “the country’s problem is not from the revenue side if more taxable persons are brought into the tax net. In addition, if all the subsidies given to the rich are withdrawn and paid into the treasury, there would be enough revenue to run the government.”

According to him, “it is an open secret that an economy must not only grow double-digit but such growth must be sustained for at least 15 years to have a dent on poverty reduction. Growth is only a necessary condition for economic development. The Nigerian economy exhibits positive growth rates though less than population growth. The positive impact of growth on poverty reduction is very marginal. What is required is the implementation of concrete projects and programmes to move millions out of poverty.

Market forces would not reduce poverty even in the long-run. In fact, market forces need poverty to intensify primitive capitalist accumulation.”

He added: “To have the intellectual class in poverty coupled with the already reserve army of the unemployed is dangerous for the country. Something must be done before it is too late.”

The economist surmised that the entire reforms of Tinubu’s administration rested on market fundamentals coated with neoliberalism that would not solve the economic problems of Nigeria.

“It should be stated that countries such as those in Asia rejected neo-liberalism in order to leap-frog into sustained growth and development. These countries conceptualised, formulated and implemented home grown solutions to escape from backwardness and underdevelopment.

“The World Bank and the IMF have become too visible in our appetite for advice. Their one-size fits all policies must be rejected if

Nigeria is to make progress.

“The Nigerian economy is for now not a normal one. For now, the appropriate exchange rate regime should be a managed float with emphasis on managed. Opening the foreign exchange market would result in distortions and shocks which the economy cannot absorb.

“The economic crisis requires the visible hand of government to restore recovery. The economy is sinking and reliance on the private sector and market forces would further deepen the crisis.

“The economic philosophy that can ensure urgent recovery is that of a developmental state economic blueprint, which implies the visible hand of government in economic activities.

“President Tinubu exhibited this in Lagos State when he fully supported and invested in the GSM network which is today’s Airtel. Today, the GSM is private sector owned but government was the catalyst.

“The present economic realities support a public sector led economy, which may later become private sector driven and/or a public-private partnership.

“A visionary and transformative leader must give the people hope. Let your administration, Mr. President, walk the talk through concrete action so that your “Renewed Hope” agenda does not become renewed misery.”

Ekpo, who was a former board member of the Central Bank of Nigeria (CBN), warned that the: “CBN’s autonomy is a sine qua non for macroeconomic stability,” and cautioned that, “amending the CBN Act to allow for a chairman of the board would create serious problems for the economy. There are several reasons why the CBN’s governor is also the chairman of its board. The economy is dynamic hence certain decisions on the monetary side of the economy like the exchange rate issue may require quick decisions.

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FG: Students Loan Scheme Will Still Take Off This Month FEC approves guidelines on transnational education scheme

Deji Elumoye in Abuja

The federal government has reiterated that the January, 2024 date for the take off of the Students Loan Scheme remains sacrosanct.

Minister of State for Education, Yusuf Sununu, gave the affirmation while addressing newsmen yesterday after the Federal Executive Council (FEC) meeting presided over by President Bola Ahmed Tinubu at the State House, Abuja.

According to him, all is now set for the scheme to begin with the completion of the Student Loan Scheme’s website and conclusion on technical plans that would facilitate the kick off of the scheme.

He also stressed that funds have

been made available for the scheme in the 2024 Appropriation Act as well as the Supplementary Budget for 2023.

His words: “January is a reality for the commencement of Student loan scheme in Nigeria, already the website is almost done . Application for beneficiaries will be online , criteria for students to get admission is that you must be a Nigerian and find yourself in a public school and application is also online which will be processed timely and you can access your loan within 30day “Funds have been set aside in the 2024 appropriation act so as also the supplementary budget for 2023”.

Sununu also disclosed that the Ministry of Education presented a

note to the council, prepared by the ministry and the National Universities Commission, on the guidelines for implementing transnational education in Nigeria.

He explained that the scheme would allow foreign degreeawarding institutions the room to set base in Nigeria, employ local talent, admit local students and lessen the pressure on existing higher institutions of learning.

On the rationale for this, he cited Nigeria as a member of the World Trade Organisation since 1995 and a signatory to the General Agreement of Trade in Services, which was signed in 1995. He argued that such trade services include documented education that is exportable across

borders.

“We are all aware of the effort of Mr. President to increase access to education with greater number of graduates and secondary school leavers seeking to be graduates or undergraduates in our tertiary institutions.

“The Placement is becoming a serious issue and therefore, the ministry came up with a transnational education policy. What it means is that exchange of cross-fertilisation of ideas exchange that progressive education can be done across borders,” the Minister ssid.

“The documents provide a guideline whereby foreign institutions can collaborate with local institutions within the country or establish a

campus within the country.

“Economically, transnational education would decrease the pressure on the naira as it exchanges with the dollar. This is the justification presented to the council, and the council graciously noted the presentation of the document so that it can be implemented to increase access to tertiary education in Nigeria.

He said the scheme comes with no monetary cost to the FG. Instead, it will “attract funds to government.”

“So if you have a campus in Nigeria, you will get the certificate of that same institution. And the quality in terms of education and service delivery will be as standardised as that obtained in the parent institution.

“So to curb the issue of fake

He stated, "It is no longer going to be business as usual. Everything has to be done to protect lives and property. Without protection of lives and property, then we have no business in government.

“My coming here today is to assure you that we are very serious.

All those criminals, bandits, enough is enough! We will do everything in our power to make sure that we will not allow this to happen again."

The minister said he got the approval of the president yesterday morning to provide all the logistics required to support the security agencies. He said the security agencies would no longer give any excuse of being underequipped, as they would be provided with all necessary logistics.

"I know how big Bwari is,” he stated, adding, “I know that you have boundaries with three states: Niger State, Kaduna State and Nasarawa State. I know because these bandits were chased away from the North-east, so they are making their way here, we will make it hot for them.”

Earlier, Gabaya disclosed that the council comprised 16 districts and over 90 villages and hamlets,

adding that the size and difficult terrain of Bwari council made the security challenges huge.

He requested that the needed logistics be provided to security agencies in the area, and added that they required at least a vehicle and seven motorcycles in each district for effective patrol and surveillance.

The Bwari area council chairman also appealed for training and retraining of hunters and villagers engaged by the council for security.

Commenting on crowdfunding for purposes of ransom payment, Badaru said there was an existing law that prohibited the payment of ransom to kidnappers.

According to him, “We all know that there is an existing law against payment of ransom. So, it is very sad for people to go over the internet and radio asking for donations to pay ransom.

"This will only worsen the situation, it will not help the situation at all, as you have seen. Initially, they asked for N60 million and now because of this funding and I learnt somebody has raised N50 million already through friends and media, and the kidnappers jacked up the ransom.

"We believe we have to stop.

As painful as it is, we have to stop responding to requests for ransom. If we stop, overtime the kidnapping will not be profitable and they will stop.

“It is not easy though, that is the law, that you know. So, we want to call on the people to manage the kidnapping situation intelligently and very quietly, because talking too much about it, most especially, raising funds through the public, media, is not productive at all and should be discontinued."

The minister, who also condemned the activities of terrorists and kidnappers wreaking havoc across the country, noted that kidnapping in the FCT was high within the area councils.

He said, "We are aware that Mr. President called us and all the service chiefs to discuss this issue. So, concerted efforts are being made by security agencies to stop

Minister of State for Education, Yusuf Sununu certification that we have been battling with, that is why we have sat down and come up with a policy document for you to establish a campus within the country; you must agree and be able to satisfy 100 per cent the provision of the guidelines, as rightly noted by the FEC,” Sununu added.

Wike: We Must Stop Paying Ransom to Kidnappers, Bandits on the contrary, it encourages the scourge.

This was as the federal government, has warned against crowdfunding in support of ransom payment to kidnappers by relatives of victims, saying there was an extant law against it.

Minister of Defence, Abubakar Badaru, gave the warning while fielding questions from reporters after the maiden 2024 Federal Executive Council (FEC) meeting, presided by President Bola Tinubu at State House, Abuja.

But Inspector-General of Police (IGP), Kayode Egbetokun, declared yesterday that the security forces would be decisive in their renewed bid to contain kidnappers and armed bandits running amok in the nation's capital. Egbetokun made the declaration in Abuja during the launch of a special intervention unit of the Nigeria Police to tackle the menace of kidnappers, bandits, and other criminal elements, especially in the FCT. As part of efforts to stem the tide of insecurity, the Department of Development Control of FCT Administration said it had begun to compile a list of all shanties and

informal settlements in Abuja for verification purposes.

The warning against ransom payment followed reports that Nigerians had raised over N50 million through crowdfunding to pay the ransom for the release of five daughters of Abuja resident, Mansoor Al-Kadriya.

Six siblings had been abducted from their father’s house in Bwari Council, Abuja, on December 26, 2023, alongside their father. Although their father was later released to go and raise the ransom, the kidnappers killed one of his daughters, Nabeeha, last Friday for failing to raise the said ransom, leaving five in captivity.

Wike, who cautioned the public against paying ransom to bandits and kidnappers through crowdfunding, made the plea yesterday at a town hall meeting on insecurity held at Bwari Area Council.

The meeting was attended by heads of security agencies in the territory, led by FCT Commissioner of Police, Garba Haruna; the Sarkin-Bwari, Alhaji Awwal Musa Ijakoro; and Chairman of Bwari Area Council, John Gabaya.

Gabaya said the council was planning to mobilise 50 hunters and

50 vigilantes into a joint security taskforce and support them with logistics, to complement the efforts of the security agencies in protecting the 90 villages and 16 districts that constitute Bwari Council.

Wike lamented that the practice of raising ransom through crowdfunding gained traction after N700 million was demanded by bandits as ransom for seven residents of Sagwari Estate Layout, Dutse, who were abducted recently.

He said, "We have to stop this idea of going to the radio to say we are ready to raise money. When you do that, those criminals are happy.

They are happy when the people that are concerned, you people, want to raise money.

“No. I know it is painful that your wife, your children, and your husband have been kidnapped.

All we want is to stop it, not to encourage it.

“Journalists should also help us.

We need the support of everybody.

The kind of news you write also will encourage them."

Wike promised to go on hot pursuit of bandits constituting a nuisance for the residents of FCT and making life miserable for them.

Federal Court Quashes Regulation Empowering NBC to Fine Broadcast Media of N5 million each on a television station and three pay TV platforms in 2022 for allegedly undermining Nigeria’s national security through their broadcasting of documentaries on banditry in Nigeria.

The plaintiff's in the suit filed on their behalf by their lawyer, Mr. Uche Amulu, asked the court to hold, among others, that the NBC’s action of imposing a fine on each of the media platforms and the station for broadcasting a documentary about the state of banditry and security in Zamfara State was unlawful and unconstitutional and has a negative effect on the freedom of media to impart information and ideas.

The plaintiff further submitted that the action of the NBC would deter the platforms and station from reporting the true state of affairs regarding the security situation in the country.

He stated that it thereby violated the rights of MRA, its members, and other citizens of Nigeria to freedom of expression, particularly their rights to receive ideas and information without interference, as guaranteed by the constitution and the African Charter on Human and People’s Rights.

Subsequently, the plaintiff urged the court to declare that the procedure adopted by the NBC in imposing the fines was a flagrant violation of the rules of natural justice and the right to fair hearing under Section 36 of the Constitution and Article 7 of the African Charter.

The MRA stated that the commission was the drafter of the code, which provides for the alleged offences for which the media platforms and the stations were punished, and which empowers the NBC to receive complaints, investigate and adjudicate on the complaints, impose fines and collect fines.

It contended that the NBC, not being a court of law and not having been constituted in a manner as to secure its independence and impartiality, has no power or competence to impose fines on broadcast stations as punishment or penalties for the commission of an offence as the competence to establish that an offence has been committed and to impose criminal sanctions or penalties belongs to the courts.

Besides, it claimed that the NBC, not being the Nigerian Police or a law enforcement agency, has no power to conduct a criminal investigation or an investigation that could lead to criminal charges against the affected media platforms and stations or the imposition of criminal penalties.

Accordingly, the court said that the investigation purportedly conducted by the commission, leading to the fines imposed on the media platforms and station for alleged offences under the Nigeria Broadcasting Code is ultra vires, null and void.

MRA also urged the court to declare that the Nigeria Broadcasting Code issued by the NBC, being a subsidiary legislation that empowers it as a regulatory and administrative body to enforce the provisions of the code, cannot confer judicial powers or jurisdiction in criminal matters on the commission to impose criminal sanctions or penalties such as fines, particularly as the code was made by the NBC itself.

It urged the court to declare the fines unconstitutional, ultra vires, null and void, set them aside and issue an order of perpetual injunction restraining the NBC, its servants, agents, privies, representatives or anyone acting for or on its behalf, from further imposing any fine

on any of the media platforms or station, or any other broadcast station in Nigeria for any alleged offence committed under the Nigeria Broadcasting Code.

Delivering judgment in the suit, Ofili-Ajumogobia agreed with the plaintiff that the NBC not being a court of law, acted above its powers by imposing such fines against the alleged offenders.

She subsequently made an order of perpetual injunction restraining the commission or anyone acting on its behalf from further imposing any fine on any media platform or broadcast station in Nigeria for any alleged offence committed under the Nigeria Broadcasting Code.

The court then went ahead to set aside the fines imposed by the NBC on August 3, 2022 on Multichoice

Nigeria Limited, owners of DSTV; TelCom Satellite Limited (TSTV); Trust-TV Network Limited; and NTA Star times Limited for broadcasting a documentary about the state of banditry and security in Zamfara State.

It said the regulator’s action was wrong and unjustifiable in a democratic society.

The judge however, refused to grant the plaintiff’s claim for N700,000 being costs of the suit.

Ofili-Ajumogobia in addition declined another claim for N2 million as general damages for NBC’s infringement on its rights as well as a request for N1 million as punitive damages for the commission’s “outrageous conduct in abusing its powers and arbitrarily imposing fines on broadcasting stations”.

it immediately.

"These kidnappings happen around the suburbs, around locations that are bordering Kaduna and Niger. And this is as a result of the current operations going on in the North-west and some parts of North-central.

"The bandits are fleeing and they are getting shelters around these areas and the security agencies are working very hard to push them out, block the movement and finish this thing once and for all.

"The president has given us the marching order and all the support that we need and what the security agencies need to end this thing."

IGP: Security Forces in Renewed Bid to Decimate Kidnappers, Bandits in Abuja The IGP declared that the security forces would be decisive in their renewed bid to contain kidnappers and armed bandits threatening the FCT. Abuja had witnessed rampant kidnapping of residents for ransom, especially in the outskirts, lately, often resulting in deaths, while some are still in captivity.

In furtherance of the security imperatives of the nation's seat of power, Egbetokun launched a Special Intervention Squad (SIS) to contain the activities of kidnappers and other criminalities in Abuja.

Speaking at the launch of SIS, the IGP said the intervention was precipitated by the alarming rise in violent crimes, which required commensurate response.

He stated, "I am imbued with a profound sense of duty as we confront the crisis of kidnappings and violent crimes presently afflicting our esteemed nation, particularly in and around the Federal Capital Territory.

"The alarming rise in these criminal activities, without equivocation, demands immediate and resolute action from us all. It is, thus, with Continued on page 36

CBN Uncovers Gross Violations of Market Regulations, Vows Sanctions CBN acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, which disclosed this in a statement, did not reveal the infractions nor the institutions or personalities involved. In addition, the statement also did not reveal the identity of the “reputable independent firm” which was engaged by the by the CBN to carry out the task.

The CBN, however, said it would continue to settle all legitimate foreign exchange backlogs going forward.

The bank maintained that it has paid about $2 billion across various sectors, including manufacturing, aviation, and petroleum, in a determined resolve to clear the outstanding foreign exchange liabilities.

The central bank emphasised that it has consistently defrayed legitimate FX backlogs in the last three months,

noting that it has cleared the entire liability of 14 banks.

Ali, maintained that the central bank remained committed to sanitising the financial services sector as well as fostering trust among all market participants, including internal and external stakeholders.

The CBN recently announced that it had disbursed about $61.64 million to foreign airlines through various Deposit Money Banks (DMBs).

The apex bank also said it redeemed outstanding forward liabilities amounting to about $2 billion in the past three months.

The bank pointed out that the payment reaffirmed its commitment to eliminating the backlog of pending matured foreign exchange in banks as well as dousing pressure on the exchange rate.

Sidi explained that the initiative was part of the apex bank's efforts

to decrease its outstanding liability to the airlines.

She said, "This underscores the CBN's commitment to the resolution of pending obligations and a functional foreign exchange market."

According to her, these payments consolidates CBN's ongoing efforts to settle all remaining valid forward transactions, with the aim of alleviating the current pressure on the country's exchange rate.

By the latest intervention, the central bank hopes to provide a considerable boost to the Naira against other major world currencies as well as increase investor confidence in the economy.

The federal government recently received $2.25 billion out of the $3.3 billion foreign exchange (FX) facility from the African Export–Import Bank (Afreximbank).

The long-awaited credit support

seeks to ameliorate the acute FX shortage in the country which had constrained economic activities and doused investors’ confidence.

Earlier in December, President Bola Tinubu had assured Nigerians of the commitment by his administration to resolve the FX backlogs through injection of funds into the market.

It is estimated that there is between $7 billion to $10 billion in existing FX backlogs which must be cleared to boost investors’ confidence, some of whom have already exited the country due to the persistent liquidity constraints bedeviling the economy.

Meanwhile, Afreximbank acting as the Mandated Lead Arranger along with United Bank for Africa (UBA) as Local Arranger, closed on a $3.3 billion liquidity support for Nigeria through a structured financing arrangement with NNPC Limited.

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AFRICA PROSPERITY NETWORK BRIEFING...

L-R: Program Executive, Tetracore Energy Group Limited, Oladayo William; Chairman/Founder, Africa Prosperity Network, Gabby Asare Otchere-Darko; Director, Trade in services Investment, Intellectual Property Network [IPR] and Digital trade AfCFTA Secretariat, Emily Njeri Mburu-Ndoria; Director, Africa Prosperity Network, Gayheart Edem Mensah; and Senior Adviser to the Secretary General, African Continental Free Trade Area PHOTO: SUNDAY ADIGUN Secretariat (AfCFTA) Peter Joyseworno, during a press conference in Lagos on the forthcoming Africa Prosperity Dialogue 2024 scheduled to hold in Accra, Ghana, held in Lagos…yesterday

NERC: FG Has Decided to Continue Subsidy Payment Until Economy Improves Releases KPIs in new order to Discos Emmanuel Addeh in Abuja The Nigerian Electricity Regulatory Commission (NERC) yesterday said that the federal government has decided to continue to pay the shortfall in electricity tariffs until the economy begins to improve.

Speaking during an engagement with journalists in Abuja, the Chairman of NERC, Mr Sanusi Garba, disclosed that a new Multi Year Tariff Order (MYTO) 2024 has now been

issued each electricity Distribution Company (Disco), with government ready to offset any deficit arising from the new tariff.

The order issued to the Discos showed that for instance, while Ibadan Disco (IBEDC) pegged its tariff at N118, NERC approved N62.50. The government will pay the difference, the document showed.

For Abuja Disco, NERC approved an “allowed tariff” of N63.24, whereas the distribution company

applied for N151.07.

In the same vein, while Benin Disco requested a tariff of N277, NERC approved N60.10, after acknowledging a cost-reflective amount of N126, leaving a deficit of N65.90 to be paid by government on every kilowatt hour (Kwh) consumed by customers under that franchise.

NERC had in a recent document indicated that if the current subsidy regime on power continues in 2024,

it would hit N1.65 trillion by the end of this year.

While there were rumours that

by January 1, 2024, the federal government may approve a raise in tariffs, NERC had shut down the insinuations, saying it was not aware of such a decision.

Chairman of the power sector regulator, Garba, while addressing the press at the Abuja headquarters of the organisation yesterday, said that the federal government will

Breach of Contract: Court Assumes Jurisdiction to Hear Suits against Davido, Dismisses Preliminary Objection Wale Igbintade The Delta State High Court sitting in Effurun, has dismissed the preliminary objections filed by the Nigerian-American singer, David Adedeji Adeleke, popularly known as Davido and his company, Davido Music Worldwide Limited, challenging the jurisdiction of the court to hear and determine the breach of contract suit filed against him by Amaju Pinnick and Brownhill Investment Company Limited over the annual ‘Warri Again Concert’.

The court also dismissed another objection by Davido Music Worldwide and Israel Afeare challenging the jurisdiction of the court to hear the defamation case filed against them.

In its ruling delivered on Tuesday in Suit No. EHC/183/2023 between Brownhill Investments Company Limited vs. Davido & Davido Music Worldwide Limited bordering on breach of contract, the court discountenanced the arguments made by the defendants that the matter was a debt recovery case and was premature since the claimant failed to issue a letter of demand requesting for a refund of monies claimed in the case.

The court agreed with the legal submissions advanced by the claimant's counsel to the effect that the reliefs sought in the writ of summons must be read jointly and cannot be read in isolation to determine the nature of the suit.

Besides, the court held that the reliefs sought in the suit showed clearly that the matter was a breach of contract action which does not require the issuance of any letter of demand prior to filing and/or instituting same.

In the sister case bordering on defamation, the court held that the High Court of Delta State has

territorial jurisdiction to hear and determine the two cases bordering on defamation as it was established that the claimant who is resident within Delta State, was present in the state at the time the defendants posted the alleged defamatory publications online and also viewed the online defamatory statements whilst still in the state.

Consequently, the court is now set to proceed with hearing and determination of all the cases filed against the defendants.

The cases have been adjourned for hearing of other pending applications.

Meanwhile, THISDAY gathered that when the idea of an out-of-court settlement of the matter was mooted in court, counsel to the defendants said efforts were in top gear to resolve the case.

But the claimant in a swift reaction noted that no concrete arranged has as made because the defendants want the out-of-court settlement to be on their terms, a decision they rejected.

The claimant, Brownhill Investments Company Limited had through its lawyer, Kelechi Onwuegbuchulem in suit number EHC/183/2023 prayed the court to award N2billion as general damages against Davido.

Specifically, the claimant is praying the court for N150 million as legal and professional fees, and additional N30million as cost of filing the suit.

Listed as defendants in the suit are David Adeleke a.k.a “Davido”, and his music label, Davido Music Worldwide Limited.

However, Davido, in his preliminary objection challenged the jurisdiction of the court, on the grounds that the case was a debt recovery matter and that the claimant ought to have written a letter of demand first before rushing to court.

He further claimed that Sosoberokon is not his agent and does

not negotiate performance contracts on his behalf.

While the singer claimed that he was not paid for the show and that Soso was not his agent, he however admitted receiving the payment of $94,500 but stated that the sum was payment for only promotion of the show.

In the sister case bordering on defamation, Davido through his team of lawyers also filed a preliminary objection challenging the jurisdiction of the court on the ground that the defamatory statements were published online but the claimant did not show that the defamatory statements were downloaded and viewed in Delta State to give the court jurisdiction.

Meanwhile, following the petition

to the police against Davido, the Nigeria Police Force Panti Division has sent a letter inviting the musician for a response regarding the criminal defamation of character and cyberbullying of Amaju Melvin Pinnick. This was also disclosed by the counsel to Davido, Mr. Norris Quakers (SAN).

It was gathered that Davido, who was spotted in Ilesha on Sunday, cannot be confirmed to have reported to the police as of Monday, January 15 as requested But Soso Sorobekon, the agent that midwifed the deal that led to the suit, last November, reported to the police where he was grilled for several hours.

Unconfirmed reports indicated that he made startling revelations.

continue to subsidise electricity to ease the financial burden on Nigerians due to economic challenges in the country.

“Government has decided for now because of the cost of living crisis and so many other things, to, in the meantime continue to subsidise electricity. Tariffs are not going up, but in the order, you will see the tariff and the amount of subsidy the government will be providing to cover the gap,” he stated.

According to him, the new tariff contains what the Discos are allowed to charge based on government policy if they are to remain in service, explaining that NERC included some provisions that would ensure that the Discos pay what they are obligated to pay.

“The Discos are in the business of buying electricity from the Nigeria Bulk Electricity Trading Company (NBET), so they are to pay,” he maintained.

Garba said that the Electricity Act that was signed by President Bola Tinubu in 2023 presented an opportunity for states to make laws and take charge of providing electricity in their franchise areas.

According to him, the commission remains committed to working with the states in such a manner that the existing public utilities are nurtured to provide services to Nigerians and are utilised for what they were intended for.

He listed Ekiti, Ondo, Enugu and Anambra as states with their own electricity laws, explaining that Lagos, Edo and Osun laws are still in the works.

On metering, the chairman said that the commission had identified that the electricity distribution companies had challenges with finances to meter their customers, admitting that the rate of metering had been adversely impacted by the inability of Discos to raise the required capital from the banks.

“To reduce the rate of estimated billing, the commission created a framework under which the distribution companies can raise some amount of money to meter customers. So we decided that from the market revenues, we set aside a fixed amount that is dedicated for the provision of metering.

“We are not saying that the money from the market on a monthly basis is the money to buy a metre. It is a potential lender to raise a pathway to pay whatever loan Discos are going to get to provide metres,” he explained.

To ease communication between customers and the authorities, Garba stated that the mobile app for outages reporting was live in some Discos, stressing that plans were underway to extend it to other distribution companies as well as customer care centres.

He also spoke about the forum offices where complaints are lodged and resolved, urging customers to take advantage of the offices located in state capitals.

He said that no Disco has the power to force customers to buy poles and cables, stressing that there’s a framework on how that even if they buy, customers can retrieve the amortised value of the facilities.

Soyinka: I Was in Trenches with Tinubu, But Will Criticise Him When Necessary Emmanuel Addeh in Abuja

Renowned playwright and Nobel Laureate, Prof Wole Soyinka, yesterday said that he would assess the Bola Tinubu-led administration when his self-imposed moratorium expires, starting from some of the president’s aides, whom he said should be facing anti-graft agencies.

Speaking on Channels Television, the writer who was answering a question on whether his decisions to not criticise Tinubu was because of their closeness during the fight against the military, stated that it won’t stop him from talking when the time comes.

He alleged that some elected government officials who hid under

the cover of immunity previously are currently serving as top officials under the current government, vowing to beam his searchlight on such politicians at the right time.

Soyinka who described Tinubu as a “doughty fighter” during the military era, stated that some of his aides should be facing the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

According to the human rights activist, although somebody’s record must always be taken to account, which is done even in the courts, it shouldn’t blur anyone’s sense of right and wrong.

Soyinka had during a visit to

Tinubu in his Bourdillion residence in highbrow Ikoyi area of the state, stated that he was withholding his assessment of the current administration until Tinubu’s first-year anniversary in office.

“In addition, I wish to say this: It doesn't mean that I won't even open my mouth on critical issues.

For instance, if tomorrow we find out that 200 plus or 300 plus children, pupils have been abducted, obviously, that's too momentous an event, that I won’t keep quiet about or not contribute something towards.

“First of all, Tinubu was a fighter during the anti- Sani Abacha struggle and there is no way as a human being and as a one with a sense of fairness... the law recognises the fact

that somebody's record must always be taken into account before you descend on that person for some kind of neglect, criminality, failure, whatever.

“However, I can never allow the past achievement of any individual to twist my appeal for any urgent issue. I cannot say because you were a fighter during the NADECO struggle, therefore I will sit down and watch you condone corruption.

“For instance, when it is time we're going to look at those, for me, when it's that time, those in his government, who should be under trial right now yet occupy critical positions in the ruling party.

Continues online

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Compiled by Bayo Akinloye

US Re-designatesYemen’s Houthis as a MajorTerror Group

The United States is cracking down on Yemen’s Houthi rebels, redesignating them as a Specially Designated Global Terrorist group following weeks of missile and drone attacks on international shipping in the Red Sea and Gulf of Aden.

The move follows repeated demands from the U.S. and other countries for the Houthis to stop firing on commercial shipping.

But the demands have been ignored, and attacks have continued despite a series of airstrikes by the U.S. and Britain aimed at taking out radar systems and launch sites used in the attacks.

“We cannot sit idly by and watch what the Houthis are doing in the Red Sea and not recognize their actions for what they are,” a senior U.S. administration official told reporters, briefing the condition of anonymity ahead of the official announcement.

“These attacks fit the textbook definition of terrorism,” a second official said, likewise speaking on the condition of anonymity. “They have endangered U.S. personnel, civilian mariners and our partners, jeopardized global trade and threatened freedom of navigation.”

China’s Nationalists Urge War to Reunify Taiwan After Presidential Election The record third win for Taiwan’s most independence-leaning party in Saturday’s presidential election has sparked calls for war from Chinese nationalists who are losing patience despite more than 70 years of status quo and want to see the island forcefully reunified with the mainland.

The ruling Democratic Progressive Party’s candidate, Lai Ching-te, who was Taiwan’s vice president, was elected the self-governing island’s new president by just over 40% of the vote, which he said in his victory speech told the international community that “between democracy and authoritarianism, we will stand on the side of democracy.”

The more China-friendly Kuomintang (KMT) candidate, Hou Yu-ih, won just over a third of the vote, and the Taiwan People’s Party candidate, Ko Wen-je, received over a quarter of the ballots cast.

The DPP has said it is open to talks with Beijing, which has so far rejected them while stepping up military probing and threats to Taiwan and underscoring its plans to one day reunify it with China, by force if necessary.

Chinese officials had characterised the election as a choice for Taiwan between peace and war.

Africa’s Humanitarian Crises Underreported Amid Conflicts in Europe, Middle East In a new report, Care International says events in Africa are being underreported in the media as global attention shifts to conflicts in Europe and the Middle East.

Care International’s research singled out 10 African countries — including Zimbabwe, Uganda, Burundi, Zambia, and Senegal — suffering crises such as climate change, conflict, poverty, hunger, violence and political instability but are getting little news coverage.

It said more than 77,000 articles about these countries were published last year — while the iPhone 15 generated more than 273,000 stories.

The report, released last week, aggregated online articles in Arabic, English, French, German and Spanish. It found there were more than 215,000 articles last year about Prince Harry’s book ‘Spare’, but only 11,000 about the deadly violence and displacement in Burkina Faso.

There were more than 273,000 articles about the “Barbie” film, but only about 1,000 about the floods, drought and hunger in Angola that affected some seven million people.

The report, titled Breaking the Silence, mentions many other African crises that are getting little to no media attention.

African Union Urges Restraint over EthiopiaSomaliland Deal The African Union’s conflict resolution body met on Wednesday amid escalating tensions between Ethiopia and Somalia over a coastline deal and called for “restraint” between the parties.

Landlocked Ethiopia signed a surprise maritime accord with Somalia’s breakaway region of Somaliland on January 1, which Mogadishu rejected as violating international law.

The AU’s Peace and Security Council said it had heard representatives of Ethiopia and Somalia in Addis Ababa and urged the Horn of Africa neighbours to pursue “meaningful dialogue.”

“Council expressed deep concern over the ongoing tension ... and its potential adverse impact on peace, security and stability of the

region,” a statement said.

The council called on Ethiopia and Somalia “to exercise restraint, de-escalate and engage in meaningful dialogue toward finding a peaceful resolution of the matter.”

Under a memorandum of understanding, Somaliland agreed to lease 20km (12 miles) of its coast for 50 years to Ethiopia, which indicated it wanted to set up a naval base and a commercial port.

Somaliland is a former British protectorate facing the Gulf of Aden that declared independence from Somalia in 1991 but is not recognised by the international community.

Sweden Summons Iranian Envoy over Detained Swedes Sweden has summoned the Iranian charge d’affaires to demand the immediate release of Swedish citizens being held in custody in Iran, the Swedish foreign ministry said on Wednesday.

“The government is working intensively and tirelessly to secure the release without delay of Swedish citizens detained in Iran for no apparent reason,” the ministry said in a statement.

“In late 2023, a man with Swedish and Iranian citizenship was detained for no apparent reason,” the statement said.

A Swedish man in his 20s also was arrested in Iran earlier in January, the ministry said this week. Those events had added to tense relations between the two countries since 2019 when Sweden arrested a former Iranian official for his part in the mass execution and torture of political prisoners in the 1980s.

Last month, Iran began the trial against a Swedish national, Johan Floderus, a European Union employee who has been imprisoned since April 2022. He was charged with spying for Israel and “corruption on earth,” a crime that carries the death penalty.

The Swedish Foreign Ministry has advised Swedes against travelling to Iran.

Pakistan Suspends Diplomatic Ties with Iran to Protest Cross-border Deadly Raid Pakistan announced Wednesday it was recalling its ambassador to Iran and suspending all bilateral engagements with the country to protest an overnight “unprovoked” deadly cross-border airstrike by Iranian security forces.

The unprecedented move by Islamabad came after Tehran claimed “missile and drone strikes” by the paramilitary Islamic Revolutionary Guard Corps on Tuesday night destroyed alleged bases of an anti-Iran militant group, Jaish al-Adl or the Army of Justice, in the Pakistani border province of Baluchistan.

“Pakistan reserves the right to respond to this illegal act. The responsibility for the consequences will lie squarely with Iran,” Foreign Ministry spokesperson Mumtaz

Zahra Baloch warned in a nationally televised statement Wednesday.

She said the bombings killed two “innocent children” and injured several other Pakistani civilians. Baloch added that Islamabad had conveyed to the government in Tehran that the strikes were a “blatant breach” of Pakistan’s sovereignty and a violation of international law.

Iranian Foreign Hossein Amir-Abdollahian, while speaking Wednesday on the sidelines of the World Economic Forum in Davos, Switzerland, defended the overnight attack.

Rescue Worker: 18 Dead in Thai Fireworks Factory Explosion At least 18 people have died after an explosion at a fireworks factory in central Thailand on Wednesday, a rescue worker said.

“Eighteen found dead, confirmed,” the rescue worker said, revising down his earlier estimate of 20.

The blast occurred around 3:00 pm (0800 GMT) near Sala Khao township in central Suphan Buri province.

Police told AFP authorities were still checking the official death toll.

“There were deaths, we are checking how many people died,” police colonel Theerapoj Rawangban told AFP. “We do not see more damage toward other houses or people who live in the (nearby) community,” he added.

There was no indication of what may have caused the explosion.

Images shared by the local rescue service showed metal debris littering the ground and a huge plume of black smoke.

Explosions at workshops producing firecrackers and other pyrotechnics are not uncommon in Thailand.

King Charles to Have Prostate Operation As Kate Recovers from Abdominal Surgery King Charles III and the Princess of Wales are both dealing with medical issues that will force them to delay previously planned public engagements over the coming weeks.

Charles will undergo a “corrective procedure” for an enlarged prostate next week, Buckingham Palace said on Wednesday. The palace said the king’s condition is benign.

Moments earlier, the princess’ office announced that Kate would remain at a private hospital in London for up to two weeks after undergoing planned abdominal surgery. The princess, formerly Kate Middleton, is the wife of Prince William, the heir to the throne.

While it is somewhat unusual for members of the royal family to release details about their health, the twin announcements may help to avoid speculation if events featuring Charles or Kate have to be postponed or cancelled over the coming weeks.

The publicity around the king’s surgery is seen as an opportunity to encourage other

men to have their prostates checked in line with public health advice, nothing that the 75-year-old monarch sought treatment “in common with thousands of men each year,” the palace said.

China Sees One of Worst Years of Growth Since 1990 China’s economy last year grew at one of its slowest rates in more than three decades, official figures showed Wednesday, as a crippling property crisis, sluggish consumption and global turmoil battered it.

The figures were in line with expectations and even beat Beijing’s target but will likely pile fresh pressure on officials to unveil more stimulus measures to kickstart business activity and get the country’s army of consumers spending again.

China’s National Bureau of Statistics revealed that gross domestic product expanded 5.2% to $17.6 trillion last year.

The reading is better than the 3% recorded in 2022, when strict zero-COVID curbs destroyed activity, but marks the weakest performance since 1990, excluding the pandemic years.

While 5.2% would be looked on enviously by other governments such as the United States and eurozone, which each expanded around 2% in 2022, it is well down from the levels around 6% or 7% constantly enjoyed in the 2010s.

US Lawmakers Push for Limits on American Investment in China Tech U.S. lawmakers renewed calls Wednesday to pass bipartisan legislation restricting American investment in Chinese technology.

“It should come as no surprise that China’s military and surveillance state are exploiting loopholes in U.S. policy to access billions of U.S. investment dollars and expertise. We know that U.S. investment has not democratized China, and countries which are controlled by the CCP (Chinese Communist Party) have no power over the applications of their technology.

The CCP can direct it to us for military or surveillance purposes,” House Foreign Affairs Committee Chairman Michael McCaul said at a hearing on the legislation Wednesday.

The bill – supported by conservative organizations and the Biden administration – was not included in the National Defense Authorization Act or NDAA passed late last year. Republican Senator John Cornyn has sponsored companion legislation in the U.S. Senate that passed with more than ninety votes.

Lawmakers hope it can still be passed individually and signed into law.

If passed, McCaul said the measure, H.R. 6349, would target “specific technology sectors, like AI [artificial intelligence] and quantum computing, that are empowering China’s military development and surveillance.”

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politics

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

Arise: Tinubu Govt Has Started Well with Anti-Graft Crusade

A former Peoples Democratic Party Senator and now a Chieftain of the All Progressives Congress in Ekiti state, Ayodele Arise, in this interview speaks on salient national issues including need for creation of State Police to curb incessant security skirmishes across the country. He also lauded the Bola Tinubu-led government at the centre for steps taken so far to tackle corruption among public servants. Folalumi Alaran brings excerpts.

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ow will you assess the Bola Tinubu administration in the last seven months?

In terms of the assessment of Mr. President, as long as we are comparing with the known that we are used to, I think Mr. President has done extremely well, particularly the actions that he has taken in the last few weeks.

Apart from the fact that he is trying to live by example, bringing the cost of governance down, which has been part of the cries of the public, that the cost of governance has gone through the roof and he has decided to cut, living by example. He has said the maximum number of people that should follow him when he is travelling shouldn’t be more than 20 and five for the Vice President.

So, when you have a President that is listening and gauging the tempo of the country, and he is taking actions to address issues, responding to meet yearnings and aspirations of Nigerians, he has done extremely well.

Now, if you look at the general assessment, of course, there were challenges and he has been meeting them headlong, providing solutions.

He has approved the tax systems. There are challenges that are ordinarily because of extant laws, the President can’t just stand up and say, “this is it! “ There are ways of doing things and he is following every step of the way on how to make life a lot easier for Nigerians.

Some of these challenges that we are faced with, which include, this social investment, I won’t say scandal now because he has suspended any Social Investment Programme in the country until things are put in place to ensure that malfeasance or maybe what you want to call grand corruption can be reduced to a minimum and of course, this isn’t the first President that will experience corruption in Nigeria but he is the first one that we are seeing that is taking a very swift action immediately and saying, ok, let my Minister step aside, let us investigate what is going on.

If you are found not guilty, you may come back but you may be given another assignment.

But if you are guilty, then it is very likely that that person may be shown the way out. It is not to say, this is the only guilty person when you talk about corruption in Nigeria but he is responding as it comes and we have never seen this kind of swift action from any President in recent memory.

We have seen several cases that have come to the public forum but this President has taken a decisive action and of course, the effect of this is that if corruption was at 95%, this action will reduce it to maybe not more than 50 or 60%, because people will now follow due process and ensure that they don’t incur the wrath of the President.

I think when a person does well, please, let us give him a little credit. Some are saying he doesn’t want to fight corruption. What do you want him to do, he has suspended a Minister and it is when you get caught.

If you get caught, what is the response? There is no saint in this country as we have it. Don’t get caught, if you get caught, you must face the music and that is why I would have preferred that we acknowledge the fact that the man has done something that has turned the hearts of most Nigerians at this point in time.

I believe there are numerous things that the President has done to address the concerns of Nigerians and I believe it isn’t a problem that can be resolved within seven months of his being President. But the foundations are being laid to a more prosperous, more equitable, just and of course, we can’t be totally corruption free but we must reduce corruption for us to grow in this country.

What will you say to those who say that only women in Tinubu’s cabinet are facing

Arise suspension. The Humanitarian Minister has been suspended, same with Halima Shehu as CEO of NSIPA, but we have had allegations against another Minister in the Interior Ministry, Tunji- Ojo. What would you say to people who say only women are suffering the consequences of these allegations?

Well, I will say that it is a very unfair assessment, because this problem was discovered that it was Betta Edu that awarded contract; she was the one that requested to transfer money to a private account.

That shouldn’t be used as a yardstick but a mistake has been made of grave proportion and if we look at it, who committed the infraction? Two ladies: one was trying to take money so that maybe the Minister won’t have access to it, she kept it in her private account and the other one was busy issuing contracts out to the best of everybody’s knowledge.

I can’t remember when the jobs were advertised and how come somebody got almost N500m contract.

If the jobs were done, fine and we have a register that is dependable that we can count on we will say yes, probably maybe mistake or carelessness because even if we want to believe that he didn’t know that his company was given the contract, did she follow the due process?

Did she follow due process? Betta Edu or Tunji- Ojo? No, Beta Edu was the Minister in charge of Humanitarian and she was the one that awarded contract and giving a contract to a company that belongs to her colleague, I think with the kind of profile that the Minister on Interior has, Nigerians would have been willing to overlook it because he has done well. He could have apologized as well and even the President could possibly overlook it but coming to the public and start saying that you don’t know anything about it, a contract of about N500m, I think he was just trying to play on our intelligence and you can say maybe these are very young people, maybe the experience in public service might have failed them in the process of carrying out their duties.

So, do you believe Mr. President should

If he had come to the public to say, “I am sorry, I didn’t follow up and it was a mistake,” I believe people will overlook it but coming to the public to say you knew nothing, is making people angry about the whole situation. For me, the President has the prerogative to say he has forgiven but we don’t have the powers to say we have forgiven anybody.

It is the President that appointed him. He is the boss. He is the one that can say, this is the step that I want to take.

But ordinarily, if such happens in the future, it is better for you, to come clean and let people feel like this is a genuine person that is sorry about an error, about a mistake and there is nobody that can’t make a mistake.

overlook Tunji-Ojo because of his performance in the Ministry of Interior?

I haven’t said that. If he had come to the public to say, “I am sorry, I didn’t follow up and it was a mistake,” I believe people will overlook it but coming to the public to say you knew nothing, is making people angry about the whole situation.

For me, the President has the prerogative to say he has forgiven but we don’t have the powers to say we have forgiven anybody.

It is the President that appointed him. He is the boss. He is the one that can say, this is the step that I want to take. But ordinarily, if such happens in the future, it is better for you, to come clean and let people feel like this is a genuine person that is sorry about an error, about a mistake and there is nobody that can’t make a mistake.

So, that’s the area that I think he really bungled the whole thing.

I know Tunji-Ojo very well, he is an extremely polite individual but I am not the one to say what he has to stay, or whether he has to go but the issue of women alone being suspended isn’t a deliberate action for Mr. President and when you look at this situation, what happened with Betta is in the public domain.

Now, the person who is a beneficiary from one of the companies or his company is a different question. Did he bid ? Was his company qualified? Were people invited to do this job?

But if people just sit down and they allocated contracts and forget about due process, there will be set back for another 30 or more years, because before the Due Process, that was the practise and even now people in Nigeria have looked for so many ways of circumventing the process.

But at least, they still meet the minimum. If they have been able to meet the minimum, and has gotten a contract, the government can make him to return the money because of conflict of interest and that could be a solution. But I think, as far as the President is concerned, he has taken the correct steps so far.

Let us talk about a few other things. First is security which is one of the key areas that Tinubu administration being in its eight months now, people are using to assess him. It isn’t just about what has happened in Plateau or Kaduna or a few other states but even about what we are hearing that is happening in Abuja, there are cases on daily basis of abduction and kidnappings of individuals. What is your assessment of security in Abuja? Do you feel safe at the FCT? The second part is about National Identity Management which I am sure you are quite versed about, particulalrly the backlog of billions of Naira being owed the agents for the NIM scheme. How will you assess the scheme so far and what areas do you think the present administration should reposition the scheme?

Thank you very much. First, on the issue of whether I feel secured in Abuja, I will say yes.

This is the seat of government and I don’t think that insecurity would take an upper hand here.

It is very unlikely. They could happen just like it is happening and the reportage too because it is the capital and will always be there and of course, I keep on saying almost everyday when you turn on the TV, even in the United States, in the city of Atlanta, you will hear that somebody has been shot in the South west and I live in the North side of Atlanta and I never came to see this.

But I have been very careful in Abuja, anywhere I go, not only in Abuja but across the country because we haven’t been able to resolve the issue of kidnapping, totally.

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

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T H I S D AY • Thursday, JANUARY 18, 2024

FEatures

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

Promoting Teamwork, Sportsmanship through ASNDL Maiden VolleyballTournament

To promote teamwork and sportsmanship amongst its staff, inter-relationships within the military ranks, civilians in the dockyard, and with other sister agencies, the Naval Dockyard Limited last December kicked off the maiden edition of the Admiral Superintendent Naval Dockyard Limited, ASNDL, Annual Volleyball Tournament. Sunday Ehigiator reports

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t was a remarkable evening of teamwork and sportsmanship on display as the Naval Dockyard Ltd. kicked off the maiden edition of the ASNDL Annual Volleyball Tournament at its premises located in the Victoria Island area of Lagos.

The three-day event featured four teams, including teams from the Naval Dockyard Limited (NDL), Western Naval Command, Naval Training Command and Dodan Barracks, alongside their supporters, as they competed to win the maiden trophy of the competition.

According to the Admiral Superintendent, Naval Dockyard Limited Rear Admiral, Abolaji Orederu, “Each team would play and compete amongst themselves to determine the winners to claim the trophy and other prizes at the tournament's close.”

Speaking further about the tournament, he said, the “ceremony marks the beginning of the Admiral Superintendent’s Maiden Volleyball Tournament 2023, an event which would be part of an annual end-of-year activity of the Naval Dockyard Limited. “Aside from being one of the scheduled end-of-the-year activities for the Yard, the tournament is also aimed at promoting a healthy lifestyle, sporting activities and good comradeship amongst the NDL and its numerous friends from sister services, government and private agencies and friends.

“Also, the tournament aims to strengthen the bonds between the personnel of the Yard and their counterparts in these agencies, building trust and healthy competition while unwinding the stress of a very eventful year.

“Pertinently, the Naval Dockyard Limited organised this volleyball tournament to create further avenues to increase synergy among personnel and civilian partners of the Yard.

“It is believed that it will promote the growth of collaboration between the Yard and other institutions with shared responsibilities, interests and goals within the Navy, Armed Forces of Nigeria and the general public.”

The ceremony had as its Special Guest of Honour, the Flag Officer Commanding Western Naval Command, Rear Admiral MB Hassan, and also had as guest, the General Officer Commanding 81 Division of the Nigerian Army, Major General Mohammed Usman.

Other guests include the Flag Officer Com-

Admiral Superintendent, Naval Dockyard Limited, Rear Admiral Abolaji Orederu; the Special Guest of Honour, Rear Admiral MB Hassan, and other guests, officials and participants at the opening ceremony of the three-day ASNDL maiden Annual Volleyball Tournament ... recently) manding Naval Doctrine Command, Rear Admiral Habilla Zakaria, the Managing Director of Admiralty Marine Services Limited, Rear Admiral, Hamza Ibrahim, and the Divisional Police Officer of the Bar Beach Division of the Nigeria Police, CSP Taiwo Adewunmi Oyewale.

In his address, the Special Guest of Honour, Rear Admiral MB Hassan said the tournament is indicative of efforts the Nigerian Navy and the Naval Dockyard, in particular, have put into building and galvanising strategic relationships with sister services, other agencies of government, and the public in line with the mission, vision, and strategic directives of the Chief of the Naval Staff, Vice Admiral, I.E Ogala Admiralty Medal. According to him, “The institution of this tournament as an annual event of the year was largely inspired by the chief of the Naval Staff and brought to fruition by the admiral superintendent of the Naval Dockyard Limited, Admiral Bolaji Orederu, typifying the yard's commitment to key into the vision and mandate of the Navy.

“Today, we are all gathered to watch the

opening ceremony of this tournament, which forms part of the Year's activities to close the year 2023.

“The tournament is a 3-day competition where each team plays and competes with themselves to determine the winner to claim the trophy and other prizes at the end of the tournament. “Indeed, judging by the level of preparation by the participating teams, the tournament promises to be entertaining and highly competitive. I, therefore, enjoin our extreme guests and participants to support and cheer their team to victory as there is a highly coveted trophy and prize for the winning team and outstanding players.

“Please note that volleyball is virtually like naval operations. Notably, the annual volleyball tournament aims to foster a healthy lifestyle, sportsmanship, and comradeship among the NDL and its numerous friends from sister services, government and private agencies, partners and friends. “Also, the tournament seeks to consolidate the bond between the personnel of the yard and

their counterparts in these agencies; building trust and healthy rivalry while finding time to unwind the stress of an eventful 2023.

“In the same vein, this tournament will create further avenues to increase collaborations and corporations among institutions and personnel of the yard with participating establishments towards achieving shared responsibilities, interests, and goals within the Navy, armed forces of Nigeria and the General Public.

“Finally, I encourage the participating teams to demonstrate good sportsmanship, teamwork, integrity, and professionalism, which are the core ethics of the Nigerian Navy and the Armed Forces of Nigeria in Nigeria.”

Following the official opening of the tournament, the Naval Dockyard Limited (NDL) was pitched to play the Dodan Barracks team as the tournament's first match. The match saw Dodan Barracks Team defeating NDL by 25 points to 23 in the first set, losing 12 points to 25 in the second set, before going on to win the third set by 18 points to 11 points in the last set to clinch the first victor of the tournament after winning two sets.

Other matches were scheduled to follow through the remaining two days of the competition.

Empowering Citizens to Pursue Grand Corruption, Asset Recovery against Govt Precious Ugwuzor Legal Adviser at Amnesty International's International Secretariat, London, Dr Kolawole Olaniyan, has called for citizens to be empowered to pursue grand corruption and asset recovery actions against their governments.

He called for the development of domestic laws on stolen wealth recovery.

Olaniyan also urged the international community to look to international human rights law to implement the growing consensus that corruption undermines the rule of law, hampers development efforts, stifles democracy, and harms the most vulnerable throughout the world.

These were some of the recommendations he made in his new book: “Ownership of Proceeds of Corruption in International Law.” The author noted that recovery of proceeds deriving from corruption is now increasingly recognised as a principle of contemporary international law.

He, however, said people's sovereign and ownership rights over their wealth and natural resources have remained more theoretical than real, especially in the global fight against corruption.

As a result, the populations of victim-states often cannot hold their governments accountable for misusing proceeds of corruption, and do not benefit from the recovery, repatriation, management, and use of returned proceeds.

Olaniyan, therefore embarked on the first comprehensive study on the issue.

In the book, he challenged the conventional notion that sovereign and ownership rights over wealth and natural resources - and by extension, the proceeds of corruption - should be exclusively exercised by states.

The author, who was previously director of

Dr. Olaniyan the Africa Programme, has been a researcher and visiting lecturer at universities in the United States and United Kingdom.

He holds a doctorate in international law on corruption and economic crimes from the Law School of the University of Notre Dame.

Olaniyan is the author of a seminal book on Corruption and Human Rights Law in Africa. He has authored many other book chapters and articles on international law on corruption, economic crimes, and human rights law. He is a member of the Nigerian Bar Association.

Activist-lawyer Femi Falana (SAN) said the new book addresses lingering legal and practical challenges and discusses the complex interplay between the legal rules on corruption, asset recovery and human rights law.

Stressing the extent of the problem, he said: “Corrupt officials routinely use states’

institutions and coercive powers to steal people’s wealth with almost absolute impunity.

“Even though the value of the assets returned has varied over time, the total amount recovered since 2010 is reported to be just over $4 billion– a tiny fraction of the estimated staggering $3.6 trillion lost to international corruption every year.”

Falana noted that when the very institutions and officials charged with preventing and combating corruption and pursuing asset recovery cases are themselves corrupt, the victims are left with no recourse, and the resulting sense of powerlessness and betrayal often compounds the injury and makes redress more difficult.

“Through the analyses of theories, concepts, jurisprudence and case studies, the book makes a compelling case for people’s ownership rights of proceeds of corruption.

“It discusses contemporary doctrinal issues as well as the legal and practical challenges confronting asset recovery.

“By offering both a theoretical framework and an analysis of case studies in these fields, Kolawole seeks to advance the coherency, consistency and effective implementation and enforcement of both anti-corruption and human rights standards.

“Kolawole’s extensive treatment of the rarely addressed private sector corruption is particularly welcome. The focus on private sector corruption is quite important especially given the well-documented complicity of private actors such as banks and financial institutions in public sector corruption.

“Thorough and scholarly, yet eminently readable, the book addresses important and topical issues such as the sharing of proceeds of foreign bribery, universal jurisdiction, and international cooperation and assistance in

asset recovery cases, including the proposed International Anti-corruption Court.

“The book also discusses how the current legal rules and mechanisms on corruption and asset recovery still have very little to offer to victims. Kolawole’s focus throughout is on the rights of individuals and people to seek redress when states are either unwilling or unable to pursue asset recovery cases.”

In the preface, Dinah L. Shelton, Professor of International Law Emeritus at George Washington University Law School, says Olaniyan “combined theoretical and practical aspects of the struggle to recover the proceeds of corruption to create a masterful and comprehensive treatise”.

He adds: “Along the way, he presents case studies and jurisprudence that support his main thesis that criminal law and efforts to enforce it have been inefficient and largely unsuccessful in preventing or remedying corruption. He addresses the focus on public sector corruption and explains why limiting concern to this topic is misguided, because private sector corruption is just as problematic.

“This will be a valuable resource for government officials, lawyers, practitioners, scholars, and students alike.”

The book has also received positive global reviews from legal experts and other stakeholders.

Charity Hanene Nchimunya, Executive Secretary of the African Union Advisory Board against Corruption, Arusha, Tanzania, says: “Dr Olaniyan, a seasoned legal guru and anticorruption and human rights lawyer, has meticulously explored the important issues of ownership of proceeds of corruption and highlighted the inadequacies in the current legal rules and implementation mechanisms on asset recovery.

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Thursday January 18, 2024 Vol 27. No 10506

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opinion@thisdaylive.com

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BEYOND THE ARMED FORCES REMEMBRANCE DAY PARADE

We should always remember our fallen heroes, writes UZOR MAXIM UZOATU

See page 21

AKETI: CONJURER OF MIXED EMOTIONS

TUNDE OLUSUNLE pays tribute to Rotimi Akeredolu, former Governor of Ondo State

See page 21

EDITORIAL

TIME TO REVIEW TAX WAIVERS

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MONDAY PHILIPS EKPE writes that the trial of the former president of Sierra Leone can jeopardise the country’s stability and fortunes

THE TRAVAILS OF ERNEST BAI KOROMA “That you, Ernest Bai Koroma on diverse days between the 5th day of November 2023 and the 26th day of November 2023 in Sierra Leone prepared to overthrow the Government of Sierra Leone by unlawful means …. That on a date unknown between the 20th and the 25th day of November 2023, Ernest Bai Koroma, in preparedness to overthrow the Government of Sierra Leone by unlawful means, harboured Sorieba Mansaray… in his premises...”

The immediate past President of Sierra Leone, President Koroma, heard those cold words from the dock on January 3 in Freetown when he was arraigned for his alleged role in the violent attacks that took place in the country on November 26 last year. The government of President Julius Maada Bio, in a twist, later pronounced those incidents as attempts to oust it.

Let’s be clear. The orchestrated assaults were daring and grievous. And completely unacceptable. Media reports showed that a major armoury, two barracks, two prisons and two police stations were raided. Over 20 persons, mostly soldiers, were cut down in cold blood; in addition to freeing some 2000 prisoners. Those actions, by any stretch of imagination or the origins of their masterminding, were epic. No self-respecting government would simply fold its hands and watch. Investigating, prosecuting and penalising the suspects or culprits should, as a matter of routine, be expected from the authorities. Besides, with the recent wave of coups especially in parts of West Africa, it would amount to dereliction of duty if President Bio hadn’t moved to unearth those dastardly acts. To that extent, he can’t be faulted.

The direction of the enquiries so far, however, is, put mildly, troubling. A huge moral question is developing in Sierra Leone which overshadows the legal processes that should ordinarily bring vindication to the innocent and pronouncement of guilt on the culpable. In the words of Joseph Kamara, Dr Koroma’s lawyer, “a dark cloud has shadowed our country (by) dragging a former head of state, who was democratically elected, on trumped up charges under a political vendetta.” As things stand, only the followers of Bio would disagree with that assertion. What did Koroma’s interrogation for over 40 hours produce? The fact that he knew the other suspects, something the former president didn’t deny. Surely, someone who led the country for one decade can’t seriously be accused of having things to do with the citizens, some of whom have served as his personal security detail. No evidence of any sort that could directly link him to the sad events being probed. Absolutely nothing incriminating! Well, as far as the initial questionings have gone, for, anything is possible in a murky political environment.

It's on record that Koroma condemned the orchestrated military attacks in strong terms even before they were declared as acts of insurrection by the government. So, those

who have identified his present predicament as a witch-hunt, a deliberate attempt to rubbish his reputation and undermine his capacity to present a credible alternative voice to what is generally perceived as Bio’s increasingly inept administration, don’t need to look far for proofs.

To start with, unlike Bio, Koroma parades unimpeachable democratic credentials.

Twenty-eight years ago, the former, who was then a brigadier in the Sierra Leone Army and deputy head of the National Provisional Ruling Council (NPRC) led by Captain Valentine Strasser, toppled his boss shortly before the country’s planned return to civil rule under late President Ahmad Tejan Kabbah, and was granted asylum in the United States. Bio’s visit to Sierra Leone in 2005 was occasioned by Kabbah’s endorsement and assurances of his safety. His contest for president in 2012 failed as he was beaten by Koroma who then ran for his own second term in office.

Had Koroma been vindictive, he simply could have dug up his opponent’s activities while in the military, including his involvement in the Revolutionary United Front (RUF), many of which were questionable, if not detestable.

That he didn’t do so further authenticated his profile as a true statesman whose overriding interest and passion were the enthronement of peace, justice and egalitarianism in Sierra Leone, a nation that has experienced crippling existential and situational vicissitudes.

It’s quite ironic that Koroma may indeed have become a victim of his own magnanimity and sense of fairness. Much of Africa is still not a continent where standard democratic practices thrive, where the fidelity of the ballot is a given. Incumbent presidents do manipulate elections and their outcomes, many times brazenly, to their advantage. The more audacious ones among them even use their pliant parliaments to rig their countries’

Koroma may indeed have become a victim of his own magnanimity and sense of fairness. Much of Africa is still not a continent where standard democratic practices thrive, where the fidelity of the ballot is a given. Incumbent presidents do manipulate elections and their outcomes, many times brazenly

constitutions so they can cling to power till they drop dead. But what did Koroma do in 2018, the year his tenure ended statutorily?

He presided over the transition period with disinterestedness, nationalism and candour.

The stuff that genuine patriots are made of. That presidential poll didn’t yield the mandatory 55% lead, hence a rerun between the frontrunners - Bio of the opposition Sierra Leone People’s Party (SLPP) and Dr Samura Kamara of the All People’s Congress (APC) who were only separated by less than 15000 votes in the first round. Bio won the runoff with 51.8% of the votes, a very tempting situation that could have been used to perpetuate the ruling party’s dominance of Sierra Leone’s volatile political space. But Koroma gladly handed over to Bio who has now become his tormentor. As expected, some of APC’s stalwarts weren’t on the same page with their leader whose predominant concerns were his country’s tranquillity and entrenchment of democracy.

Koroma’s current tribulation could appear to be a fight for his own image and future but the ramifications extend beyond that. He has earned a respectable spot as a national, regional and continental icon, a status his rivals may have to live with for a long time.

The country he met on assumption of office was still struggling with the consequences of the internecine war that claimed the lives of tens of thousands of his compatriots and left the country bankrupt in every way imaginable.

Of course, perfection can’t describe his twoterm performance but he did face monstrous challenges like a highly demoralised citizenry, Ebola, anaemic economy and devastating, unprecedented earthquakes, with meagre resources and achieved remarkable results.

Bio is believed by many watchers of the West African country to be acutely envious of and intimidated by those accomplishments. With the sustained domestic popularity of Koroma who has since retired from active local politics, and his rising profile as head of mission for the African Union (AU) and Economic Community of West African States (ECOWAS), Bio urgently needs to become magnanimous, confident and transparent - attributes that are also on trial at the moment - without which his nation’s fate could find itself in the wind again.

That would be tragic.

At any rate, time is running out. So much noise has been made about the effort of ECOWAS to get Koroma relocated to Abuja, Nigeria’s capital city, away from the dangerous moves going on in the country fondly called ‘Salone’ by its citizens. Call it safe-landing.

Call it rescue from sharks and leviathans.

Or a sincere step towards avoiding a very present possibility of Sierra Leone’s descent into anarchy. The regional body shouldn’t add this case to the embarrassing illustrations of its waning stature. Bio must be helped to act responsibly and presidentially.

Dr Ekpe is a member of THISDAY Editorial Board

T H I S D AY

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THURSDAY JANUARY 18, 2024

We should always remember our fallen heroes, writes UZOR MAXIM UZOATU

TUNDE OLUSUNLE pays tribute to Rotimi Akeredolu, former Governor of Ondo State

BEYOND THE ARMED FORCES REMEMBRANCE DAY PARADE It does appear to me that Nigerians are yet to grasp the deep meaning of the Armed Forces Remembrance Day celebrated on Monday, January 15. Nothing better calls for sober reflection as Nigerians remember and celebrate our fallen heroes in the Army, Navy, Air Force, and Police who died in the line of duty.

The launching of the Armed Forces Remembrance Day Emblem, the Jumat Prayers by the Muslims and the Church services of the Christians underline the sacredness of the cause.

The wreath-laying and parade ceremony at the Eagle Square, Abuja served as the climax of the patriotic commemoration of the heroism of the gallant forces who stood up to be counted toward the successful conclusion of the Nigerian Civil War on January 15, 1970.

When Nigeria was a British colony, the Remembrance Day was celebrated on November 11 as Poppy Day in honour of the end of the First World War, but the end of the Nigeria-Biafra war has accounted for the change of the date in Nigeria.

To pay the supreme sacrifice for the country is the ultimate test of faith in nationhood. It is crucial to laud the Nigerian Armed Forces that had been in the forefront of ensuring peace in not just Nigeria but globally.

The veterans being celebrated today have left a solid legacy for the Nigerian Armed Forces of the present day in continuing to guarantee internal and global peace. It needs reiteration that the Nigerian military has acquitted itself quite creditably in ensuring global peace since the country’s attainment of Independence in 1960.

Nigeria’s standing as the Giant of Africa owes a lot to the exploits of the Nigerian military in global peacekeeping.

The very first contingent of Nigerian peacekeepers arrived at the Congo on the heels of Nigeria’s attainment of independence in 1960, and the concomitant admission into the United Nations.

Newly independent Nigeria’s first contribution to the UN Operations in the Congo (UNOC) was commanded by then Lt-Col JTU Aguiyi-Ironsi and was made up of 26 officers, 640 soldiers and four British Non-Commissioned Officers (NCOs).

Nigeria lost just a soldier, Lt. Ezeugbana, while six others were wounded. The Nigerian contingent was in the Congo from November 10, 1960 to June 30, 1964, reaching its maximum strength of 1,703 and thus becoming the third largest command after India and Ethiopia.

In commemorating this year’s Armed Forces Remembrance Day, let’s also remember that Nigerian troops were in 1978 deployed to war-torn Lebanon as part of the United Nations’ Interim Force in Lebanon (UNIFIL). Nigeria’s participation in UNIFIL from April 1978 to January 1983 represents the longest involvement of the Nigerian Army in a UN peacekeeping operation.

It also became the first time Nigerian troops were deployed outside the African continent. Some 43 Nigerians died prosecuting UNIFIL while about 120 others were wounded. We shall never forget them, and that is why the Remembrance Day is so crucial.

Nigerian troops also led the charge when 900 soldiers were sent to Slovenia in 1992 to be part of the United Nations’ Protection Force in the former Yugoslavia (UNPROFOR), the first European peacekeeping operation of the UN in which the Army of an African country participated.

In 1993, Somalia became Nigeria’s next port of call. Also, Nigerian forces played acclaimed roles

towards ending the carnage in Rwanda through participation in the United Nations’ Assistance Mission for Rwanda (UNAMIR) set up by the Security Council in October 1993 in order to assist Rwandan forces to demobilize, enforce the peace agreement and create a unified national army.

Nigeria upped the ante with the setting-up of the ECOWAS Ceasefire Monitoring Group (ECOMOG) to save Liberia from total ruination.

On a personal note, I lost my journalist friend Krees Imodibie of The Guardian alongside his compatriot Tayo Awotusin of The Vanguard in the ECOMG struggle in Liberia.

Sierra Leone also enjoyed the peacekeeping intervention of Nigeria. Nigeria’s commitment to global peacekeeping also gained worldwide acclamation in Darfur, Sudan.

I have highlighted these instances to showcase the fact that peacekeeping is one area that Nigeria rubs shoulders with the very best in the entire world. We shall forever remember and celebrate our gallant troops who lost their lives in the arduous battle to give peace to the world.

The Armed Forces deserve continuous commendation for their dogged fight against terrorism, insurgency and armed banditry all over the country. It is so reassuring and praiseworthy that our men and women of the forces are not resting on their oars but are instead extending the worthy legacies of the veterans. But the fight must be redoubled now that the terrorists have Abuja within their ungodly gunsights!

Our esteemed ex-servicemen and women may be retired but they are definitely not tired because they continue to lend their experience and service toward maintaining internal security all over Nigeria. In line with the words of our National Anthem, the labours of our heroes past shall never be in vain.

It is incumbent on us all to continue to give honour to our heroic soldiers, for as the great American President John F. Kennedy said, “Word to the Nation: Guard zealously your right to serve in the Armed Forces, for without them, there will be no other rights to guard.” The great American Army General Douglas MacArthur offered the advice: “No man is entitled to the blessings of freedom unless he be vigilant in its preservation.”

We can never as a people take for granted the great sacrifices of our fallen heroes. In dying for us to live, the heroes are etched forever on the pages of our history. The great task of protecting the territorial integrity of our country is one duty that can never be countermanded.

The everlasting memories of our men and women of valour shall never die, as this Armed Forces Remembrance Day celebration evinces.

Uzoatu is a Journalist and Poet

AKETI: CONJURER OF MIXED EMOTIONS

Nigerian politics over time has been flavoured by branding, the affixing of monilkers, sobriquets and aliases to major players across seasons. Iconic figures like Jeremiah Obafemi Awolowo; Busari Adelakun; Bola Ige; Abubakar Olusola Saraki; Olusegun Obasanjo, to mention a few assumed novel hues in the political and public sphere arising from such rechristening. Awolowo, the scholar, philosopher, visionary and statesman was known simply *Awo.* Adelakun was dubbed *eru obodo* to underscore his fearlessness, while Ige was emblazoned with the appellation of *Cicero of Esa-Oke,* to denominate his depth and outstanding oratory. Saraki was a cult figure in the politics of Kwara State and was celebrated as *Oloye,* "the titled one" by his followers. The publicity directorate of the *Olusegun Obasanjo Campaign Organisation,* (OOCO), of 1998 and 1999, abbreviated the surname of Nigeria's former military Head of State, to a less mouthful *Obj* in referring to him.

Elsewhere across the country, legends like Benjamin Nnamdi Azikiwe, attorney, journalist,

revolutionary and statesman was revered as *Zik of Africa.* This was to capture his irrepressible advocacy for the liberation of Africa from its colonialists. Aminu Kano, teacher, poet and writer was highly revered in the old North West, especially within contemporary Kano, Jigawa, Katsina and Kaduna states. He was invested with the necklace of *Baba' talakawa* to denote his wholesale identification with the masses. Kingsley Ozumba Mbadiwe, the colourful politician, nationalist, statesman and orator was better known as *KO* derived from initialising his first names. Muhammadu Buhari, Nigeria's former President rode to the State House, Abuja, on the wings of being perceived by his supporters as *Baba Mai Gaskiya,* the honest and transparent leader.

Revelations by investigators into the activities of Buhari's aides, however, have reportedly tracked about N12 Trillion to the local and offshore accounts of some of his proteges. So much for the blighted reputation of a plausible pretender.

Younger politicians have also been bitten by the same bug, and have been baptised with cognomens popularised by their supporters and followers. Nigeria's President, Bola Ahmed Tinubu, comes to the party with quite a number of appellatives. These include *BAT,* a compression of his initials; *Asiwaju,* to underscore his leadership exertions since the birthing of the Fourth Republic and *Jagaban,* lead warrior, conferred on him in Borgu, Niger State. Olusegun Mimiko who at various points was health commissioner; minister and

governor of Ondo State, is probably better known as *Iroko,* even as Seyi Makinde the hardworking governor of Oyo State, is *GSM* for short, among his people. This acronym is derived from his present office and names, "Governor Seyi Makinde."

Olurotimi Odunayo Akeredolu, the recently, painfully demised governor of Ondo State equally came to office with his own customised signatures. Like his former colleague in Osun State, Rauf Aregbesola who adopted *Ogbeni* literally translated as "Mister," Akeredolu opted for the prefix *Arakunrin,* which is a slightly longer variant of Aregbesola's. Akeredolu's was, however, a double-barrelled brand which threw up *Aketi* as his pseudonym.

Very glaringly, this was obtained by the ingenious amalgam of parts of his surname and the first. He succeeded *Iroko* January 24, 2017, upon the completion of the latter's two full terms in office.

I never got a chance to meet *Aketi* but I followed his endeavours quite a bit. He commanded quite some pre-gubernatorial era attention, having served as attorney general and commissioner for justice under the administrations of Anthony Onyearugbulam and Moses Fasanya, both military administrators of Ondo State, between 1997 and 1999. He had equally led the Nigerian Bar Association, (NBA), from 2008 to 2010, succeeding Olisa Agbakoba, and preceding Joseph Bodunrin Daudu, both senior advocates of Nigeria, (SAN), like him. He bolstered the prototype activism of the NBA, typically standing with the people on burning issues. With such glittering resume, a lot was expected from Akeredolu.

Dapo Adelegan a Lagos-based serial entrepreneur and distinguished indigene of Ondo State affirms that Akeredolu continued with the redevelopment of township roads in the state capital begun by Mimiko. He also extended infrastructural development to Owo his ancestral home.

He is also credited with the establishment of the *Amotekun* vigilante outfit across the south west, as response to the unrestrained incursion into that section of the country, malevolent nomadic Fulani herders.

Against protestations by parts of core north of the country, Akeredolu operationalised the security outfit. The Muhammadu Buhari administration threw up its arms, bereft of answers in the face of potential cross-national conquest by the vaulting herdsmen. Akeredolu led the way and other states in the south west region followed. He also envisioned a seaport project in riverine Ondo State which considered imperative to accelerate socioeconomic development in the state.

Akeredolu was equally unequivocal in supporting the advocacy for the return of the presidency to the south of the country.

With Buhari's below par performance across sectors and indicators and the reverse development which he brought to bear on the socioeconomy, he had encumbered the path for a potential northern successor.

Olusunle, PhD, FANA, poet, journalist, scholar and author is a Fellow of the Association of Nigerian Authors

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T H I S D AY

THURSDAY JANUARY 18, 2024

EDITORIAL

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

R

TIME TO REVIEW TAX WAIVERS Indiscriminate tax incentives are unhelpful to the economy

ecent revelation by the Nigeria Customs Service (NCS) ComptrollerGeneral (CG), Adewale Adeniyi, that the government lost N1.8 trillion to waivers granted between January and November last year should compel a rethink of our national economic priorities. Just recently, the International Monetary Fund (IMF) admonished Nigeria and other sub-Saharan African countries to focus on eliminating tax exemptions and mobilise domestic revenue to reduce their fiscal deficits. The advice could not have come at a better time. With mounting debts at a time most of the economic indices do not look good, it cannot be business as usual in Nigeria. “Mobilising domestic revenue is less detrimental to growth in countries where initial tax levels are low, whereas the cost associated with reducing expenditures is particularly high given Africa’s large development needs,” said the IMF. Ordinarily, as we have argued several times on this page, there is nothing wrong with waiver which is one of the instruments used by governments all over the world to achieve specific set goals and objectives in line with their economic aspirations. However, the way and manner it is granted in Nigeria has over the years raised fundamental questions about transparency and accountability. In fact, the use of waiver has been bastardised to the extent that successive administrations in the country have turned it into an avenue for graft as top government officials connive with some unscrupulous elements in the private sector to corner billions of naira into their pockets and that of cronies.

Although tax waivers are revenues not coming to government, they are sometimes necessary to provide incentives for businesses to expand, to generate jobs and grow the economy. But many studies also reveal that most of the waivers granted

in Nigeria over the years amount to leaving money on the table and they incentivise collusion between government officials and their cronies. Therefore, a review of the effectiveness of existing waivers (not just pioneer status) is necessary for any government that is interested in improving the welfare of the people.

Today, no one can give a specific figure on the exact amount Nigeria has lost to the indiscriminate granting of waiver, because the practice is as rampant as it is uncoordinated since it is done at the instance of the president and ministers. In 2011, the House of Representatives revealed that not less than 183 undertakings and individuals were at the period beneficiaries of tax waivers, exemptions and concessions running into several billions of naira that should ordinarily accrue to the federation account. The list is today far longer. There is therefore no better time than now to plug all the loopholes of the abuse the granting of waiver has been subjected to over the years. The federal government should get serious and stop paying lip service to growing the local economy.

Some incentives may be necessary and useful, so we urge the federal government to conduct a comprehensive review and run its model in a bid to eliminate many that amount to giving official seal to graft. For example, tax credit for infrastructure is a good initiative and we have seen some roads from the policy. But there have also been reports over several years that the pioneer policy is being abused.

Many who do not pioneer anything can access it just by adding another line to existing factories.

This is why the federal government should take the IMF admonition very seriously. The regime of indiscriminate waivers, incentives and exemptions is killing local initiatives and fuelling corruption in Nigeria. The federal government must put an end to it.

The regime of indiscriminate waivers, incentives and exemptions is killing local initiatives and fuelling corruption in Nigeria T H I S D AY

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

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

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

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

LETTERS IN PRAISE OF UMAR GANDUJE Dr Umar Ganduje, former governor of Kano State and currently the national chairman of the ruling All Progressives Congress (APC) has paid his dues and has continued to play his part in the advancement of our nation and humanity. As a political leader, he advocates the building of a party structure that affects all members for good. No wonder after his tenure as governor of Kano State he left a legacy of infrastructural and human capital developments.

It was not surprising that he was called upon to lead the APC as national chairman.

The qualities of the astute politician that makes him successful in almost all of his political quest are enormous. He has been described as one politician who never loses focus by always making sure that the quality of the programmes prepared and propagated by his party during the campaigns for elections were never compromised. That is why many analysts are of the view that the President made a good choice when he was looking for an ideal man to recruit and support for the national chairmanship position. As a leader, Ganduje would always tell you the truth as it is because he believes the APC has so many grounds to cover to build a party worthy of trust and support of all Nigerians.

Under his watch, the APC can be described as a success because

it is once again living up to the expectations of its founding fathers and its members. This has united the party and brought peace back to it. This attribute is helping the party to successfully build bridges between the Christians and the Muslims, between the North and the South. He is an inspirational leader who can reach out to all.

His recent comments after the Supreme Court judgement is instructive. This has shown that he is a man who craves for peace, and a politician who believes in the rule of law. He has consistently shown that he has the capacity to rise above corrupt tendencies.

All the members of the ruling APC today are happy because the chairman is bringing his unmatched integrity to bear in the affairs of the party and the nation in general. He is today setting the needed standard that is expected of a party.

His politics revolves around the conviction that no one no matter his status should be left behind, but must be assisted to fulfil his or her destiny. His residence is a Mecca for both the rich and the poor.

He is always on the side of the masses who see him as their greatest defender because he acknowledges that even though the world is filled with pain, he chooses to be intensely compassionate.

Dr Tom Ohikere, founder, APC NewsOnline

STUPID, INSULTING AND OFFENSIVE In relation to the Iowa, Caucuses ex-president Trump had urged Iowans to go and vote "Even if you vote and then pass away, it's worth it".

This is stupid because people could or will die when it is unnecessary to vote at this stage as realistically everything pointed to him winning this Caucus easily. Human life is too important to throw away.

This is insulting to his numerous supporters as he is treating them as basically 'Cannon Fodder', minions without any real value.

This is very offensive to the many people who have given their lives to protect the right to vote. Too many brave people have been killed or badly damaged to make light of this.

If you are brave enough and probably stupid enough to vote in these circumstances then vote for someone else, anyone else, please.

Dennis Fitzgerald, Melbourne, Australia

23

T H I S D AY • Thursday, January 18, 2024

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

J a n u ar y

S & P INDEX

1 7 , 2 0 2 4

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 to daTE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT Monday, July 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

FG Set to Develop Youth Talent on Digital Skills, Calls for Collaboration across 16 States

Emma Okonji The federal government, through the Federal Ministry of Communications, Innovation and Digital Economy, has taken bold steps to grow youth talent in the areas of coding and other digital skills development, and has called for collaboration in 16 states, including Abuja, the federal capital territory.

Recently, the ministry announced a call for host organisations in 16 states that are interested in partnering to activate Code Clubs in its 17 Digital Knowledge Exchange Centres spread across Nigeria. The call is in line with the federal government’s vision to train three million Nigerian youths on digital skills that will drive digital innovation across the country, as

contained in the Strategic Blueprint for 2023-2027, which was released last year by the ministry.

Code Club, an initiative of the Federal Ministry of Communications, Innovation and Digital Economy in partnership with Raspberry Pi Foundation, is targeted at enabling young Nigerians aged 7 to 17 years to learn a broad spectrum of coding and technology related subjects like Science, Technology, Engineering and Mathematics (STEM).

This, according to government, will be a significant step in the ministry’s journey to build a pipeline of young digital literates and innovators.

The federal government’s initiative, according to industry stakeholders, will boost Nigeria’s

demand for digital skills and increase her share of STEM employees in its workforce among African countries.

Current statistics placed Nigeria’s demand for digital skills at 12 per cent, with Egypt topping the chart of selected African countries with 31 per cent, followed by South Africa with 25 per cent. Congo is rated 11 per cent, Kenya 10 per cent, Uganda six per cent, and Burundi two per cent for digital skills demand.

The statistics also rated Nigeria low at 2.83 per cent share of STEM employees in its workforce among some selected African countries, while Egypt topped the chart with 6.85 per cent share of STEM employees in its workforce,

followed by South Africa with 5.70 per cent share of STEM employees in its workforce, Congo with 3.53 per cent share of STEM employees in its workforce, Kenya 2.27 per cent share of STEM employees, Uganda 1.49 per cent share of STEM employees and Burundi having 0.57 per cent share of STEM employees in its workforce.

Announcing the federal government’s initiative, Special Adviser to the Minister of Communications, Innovation and Digital Economy, on Strategic Communications, Osibo Imhoitsike, said the available Knowledge Exchange Centres across the 16 states and Abuja, would serve as original prototypes, adding that government will put in motion,

its plan to expand the initiative to more locations nationwide.

“The federal ministry will give host organisations access to the centres with a view to putting it to good use for the benefit of local communities. Therefore, organisations with a track record in Science, Technology, Engineering, Arts, and Mathematics training are urged to express their interest to partner government on the initiative,” Imhoitsike said in a statement, which THISDAY obtained from the ministry’s official website.

He listed the current Knowledge Exchange Centres across 16 states and the federal capital territory to include Gombe, Nasarawa, Ekiti, Kogi, Imo, Delta, Ogun, Oyo, Edo,

Enugu, Borno, Katsina, Jigawa, Taraba, Osun, Lagos and Abuja.

The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, had last year, unveiled the ministry’s strategic blueprint for 2023-2027 titled, “Accelerating our Collective Prosperity through Technical Efficiency”, which set a target to train three million Nigerians in technical talents that will open up more employment opportunities, accelerate the nation’s economic productivity through technical efficiency in line with the renewed hope agenda of President Bola Ahmed Tinubu.

The story continues online on www.thisdaylive.com

Adelabu: Tinubu Mandated Power Ministry to Deploy Sustainable Energy Solutions for Nigerians Kemi Olaitan in Ibadan The Minister of Power, Adebayo Adelabu, has disclosed that President Bola Tinubu, tasked the ministry with the responsibility of exploiting all available technologies and models to ensure the equitable deployment of sustainable energy solutions for Nigerians.

He made the disclosure during an inspection and impact assessment of the 90kwp solar hybrid mini-grid at Adafila community, Orire local government area of Oyo State.

He said over the years the ministry

has continued to optimize the mandate of the Rural Electrification Agency (REA), stating that with the project and other ongoing ones in Oyo State and all 36 states including the FCT they are not mere social infrastructure but beacons of hope, symbols of progress and catalysts for change.

According to him, “They signify a departure from the past and a step towards a future where energy poverty is relegated to history.

We already have the assurance of strong will power from President Bola Ahmed Tinubu. It is therefore

with great delight that I witness strategy in action, assessing the nationwide impact of the World Bank-funded Nigeria Electrification Project Performance-Based Grant.

This project you witness here today is one of over 100 delivered through this programme nationwide.”

Adelabu who noted that the Ministry would continue to optimize the objectives of the 2023 Electricity Act by engaging in productive multi-sectorial and multi-stakeholder engagements to chart a clear course, maintained that the impact of the Adafila mini-grid extends beyond

the illumination of homes and the powering of businesses.

He added that the project was designed to represent a commitment to socio-economic growth as it symbolizes economic opportunities, as small and medium enterprises flourish with a constant and affordable power supply, urging the people of the community to make the best of the intervention and equally serve as a partner to ensure the sustainability of the project.

“Adafila, you now have a window of opportunity to explore and exploit the many opportunities that come

with energy access.

Let this mini-grid project stand as a testament to what we can achieve when we unite with a common purpose to deliver energy to all Nigerians”, he said.

The Managing Director/Chief Executive Officer, Rural Electrification Agency, Mallam Ahmad Salihijo Ahmad, in his remarks, said the minister has a mandate of Tinubu to accelerate the process of alleviation of poverty in line with his Renewed Hope Agenda, stating that this has led to witnessing the growth of strategic partnerships across all

36 states after the passage of the 2023 Electricity Act. He said, “Over the years, we have optimized the NEP to strengthen the off-grid space while deploying over 100 mini-grids and powering over 5 million Nigerians through this singular programme.

With the successful implementation of the programme, we are confident in the model and positioned for an even wider impact across the nation.

The story continues online on www.thisdaylive.com

M a r k e t d ata A s at W e d n e s d ay, J a n u a r y 1 7 , 2 0 2 4 BONDS Description Price Yield Change Updated Time (%) ^13.53 23January 101.49 12.13 -2,00 16, 2024 MAR-2025 January ^12.50 221,00 16, 98.58 13.31 2024 JAN-2026 ^16.2884 17January 108.25 13.03 -1,00 MAR-2027 16, 2024 ^13.98 23January 101.70 13.42 -38,00 FEB-2028 16, 2024 ^14.55 26January 103.63 13.55 -96,00 16, APR-2029 2024

BILLS Maturity

Discount Yield

Change (%) Updated Time

Maturity

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

2.14

2.14

January 0.00 16, 2024

2.91

2.93

January 0.00 16, 2024

3.88

3.92

January 0.00 16, 2024

4.66

4.73

January 0.00 16, 2024

5.56

January -0.01 16, 2024

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

5.43

OTC F X F U T U R E S

CPs Discount Yield 9.97

10.10

11.53

11.74

9.27

9.45

10.76

11.10

9.31

9.63

Change (%)

Updated Time

January 1,00 16, 2024 January 3,00 16, 2024 January 4,00 16, 2024 January -8,00 16, 2024 January -24,00 16, 2024

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Thursday, January 18, 2024 • T H I S D AY

BUSINESSWORLD

Interview

Dania: Industry Collaboration Will Unlock Nigeria’s Digital Assets Founder/CEO of Tradefada, a digital currency-trading platform, Seun Dania, who is also a founding member of Digital Currency Coalition, speaks about the factors militating against the growth of digital currency in Nigeria, and how industry collaboration will unlock Nigeria’s digital assets, among others. Emma Okonji presents the excerpts: Last year, the digital currency space suffered several policy summersaults, especially from the Central Bank of Nigeria (CBN). How will you rate the sector and what were the challenges that affected the growth of the industry in 2023? he cryptocurrency sector in 2023 faced significant challenges due to policy shifts, particularly since there was a change in governments. I will rather describe it as a period of both consolidation and introspection. Key challenges included regulatory uncertainties and market volatility, which dampened growth prospects. However, 2023 wasn’t without its silver linings. Towards the year’s end, a new CBN administration emerged, ushering in a wave of clarity. Directives were issued to financial institutions, coupled with outlines for comprehensive regulatory frameworks. This shift towards structure and collaboration signaled a commitment to nurturing a responsible and thriving digital currency ecosystem, offering a glimmer of hope for the future.

“Amidst the industry’s challenges, Tradefada remains a beacon of hope to local players, while we ensure high-end security and safety of users’ assets.

We prioritize stringent security measures, diverse trading options, and comprehensive educational resources to empower our users.”

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Many Nigerians do not have confidence in the digital currency sector. Could it be as a result of lack of awareness or just fear of losing money?

While regulatory ambiguity eased in 2024, lack of awareness and fear of financial loss remain roadblocks to widespread digital currency adoption in Nigeria. Public education initiatives that demystify the complexities of the nascent field are crucial to building trust and encouraging participation. The onus lies on both the government and industry players to spearhead these efforts. We can see through the laudable initiatives for education in blockchain technology and AI of the current Minister for Communications, Innovation and Digital Economy, Dr. Bosun Tijani. So, it’s safe to say all these concerns will be allayed in the coming years. Investing in financial literacy programmes, partnering with educational institutions, and launching targeted awareness campaigns are vital steps towards bridging the trust gap. By equipping the public with the knowledge and tools needed to navigate the digital currency landscape responsibly, we can foster a more informed and engaged participant base.

Dania

Year 2024 is here, what are those

“As we step into 2024, the Nigerian digital currency sector stands at a critical juncture. To unlock its true potential, a collaborative approach is paramount. This requires the government, industry leaders, and consumer protection advocates to work in tandem to establish clear, consistent, and mutually beneficial regulations.”

things you believe government and players in the sector did not do well in 2023 and what must be done going forward to boost the industry?

As we step into 2024, the Nigerian digital currency sector stands at a critical juncture. To unlock its true potential, a collaborative approach is paramount. This requires the government, industry leaders, and consumer protection advocates to work in tandem to establish clear, consistent, and mutually beneficial regulations. A robust legal framework that fosters innovation while prioritising consumer safety is essential. Open dialogue and knowledge sharing between stakeholders will pave the way for a responsible and sustainable digital currency ecosystem, one that harnesses the transformative potential of this technology for the benefit of all Nigerians.

Beyond overcoming challenges, the Nigerian digital currency sector holds immense potential for positive transformation. Blockchain technology, which is the foundation of digital currencies, offers a plethora of potential applications in various sectors beyond finance. From supply chain management and healthcare recordkeeping, to land titling and identity verification, the possibilities are vast.

In 2024 and beyond, fostering research and development in these areas will be crucial. By supporting innovative startups and encouraging collaboration between established institutions and blockchain developers, we can unlock the transformative potential of digital assets across different sectors of the Nigerian economy.

As a major player in the digital currency space, what will be your outlook of the industry in 2024 going by the issues that happened in 2023?

The events of 2023 fueled a cautious optimism for 2024. With regulatory

clarity on the horizon, we can anticipate increased involvement from institutional players like banks and financial institutions, drawn by the promise of secure and efficient digital transactions. This influx of expertise and resources will likely enhance market stability and drive adoption rates.

Furthermore, initiatives like the cNGN Naira stablecoin by the African Stablecoin Consortium, will add to the positive outlook. By bridging the gap between traditional and digital finance, such innovations hold the potential to revolutionise both the digital and real economy, fostering financial inclusion and economic growth across Nigeria. It is indeed a clear motivation, and I must commend the current administration and leadership of the CBN for its change in approach, which projects inclusivity and will indeed translate to the flow of Foreign Direct Investment (FDI) into Nigeria and will in turn usher in financial abundance.

The CBN recently issued guidelines on operations of bank account for Virtual Assets Service Providers.

What do you think about this, and in what ways will the guidelines help the industry to grow better?

The CBN’s recent guidelines on operations of bank accounts for Virtual Assets Service Providers (VASPs) mark a significant step towards formalising the digital currency sector. The guidelines are expected to bring much-needed transparency to operations, boost investor confidence, and create a safer trading environment. The CBN’s recent actions demonstrate a willingness to collaborate with industry stakeholders, which is a promising development for the sector’s future.

There is a Digital Currency Coalition formed to promote digital currency in Nigeria, and also to

support government in that regards.

You are one of the founding members of the Coalition. Is that Coalition still active, and has it been able to come up with any policy document that the government can work with?

The Digital Currency Coalition remains a driving force in promoting responsible digital currency adoption in Nigeria.

We actively engage with policymakers, developing comprehensive policy recommendations that address regulatory frameworks, innovative applications, and robust consumer protection measures. Our continued dialogue with the government underscores our commitment to working alongside stakeholders to build a thriving and responsible digital currency ecosystem that benefits all Nigerians.

You are the CEO/Founder of Tradefada, one of the leading digital currency trading platforms. How is Tradefada fairing even in the face of the various challenges in the industry?

Amidst the industry’s challenges, Tradefada remains a beacon of hope to local players, while we ensure high-end security and safety of users’ assets. We prioritize stringent security measures, diverse trading options, and comprehensive educational resources to empower our users. Our platform emphasises responsible participation through risk management tools and educational materials, fostering a safe and informed trading environment.

Without mentioning names, we have cases of digital currency trading platforms not been able to pay investors.

What are the issues and how can they be addressed?

The unfortunate instances of some platforms failing to meet their obligations, highlight the need for stricter operational standards and enhanced accountability.

Adherence to robust KYC/AML regulations, improved transparency, and effective risk management practices are crucial for preventing such occurrences in the future. Furthermore, promoting user education about platform risks and responsible investment practices is essential. By fostering a culture of informed participation, we can collectively build a stronger and more resilient digital currency ecosystem.

While the users/investors may have been greatly affected, I strongly believe that the industry is getting mature enough to ensure that all incidents are properly investigated, perpetrators brought to book and all users made whole.

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T H I S D AY • Thursday, January 18, 2024

BUSINESSWORLD

Interview

Akinyemi: Effective Communication Will Inspire Public Confidence Fellow, Nigerian Institute of Public Relations and pioneer Head of Corporate Communications of Polaris Bank, Kayode Akinyemi, speaks with Raheem Akingbolu on the likely outlook in the nation’s marketing communications industry in 2024, while urging stakeholders in the banking sector to brace up for effective communication. Excerpts: What is your view about the likely trend of marketing communication industry in 2024? irstly, since the industry is an integral component of the larger economy, it’s natural for marketing communications to share from the various economic challenges facing the country. Since it’s an ecosystem, the factors revolve round and impact one another. However, I must pause and commend the current administration for the efforts being taken to right the wrong and reset the economy.

Having said this, from any angle one chooses to look at it, I think the new year looks good for marketing communications. In the first place, in building the economy, it’s necessary to build the local and international brands operating in the country and this will involve incorporating the services of marketing professionals and agencies to navigate, communicate and position the brands. Therefore, as the brands grow, the economy grows and the marketing industry grows as well.

Beyond this, the political atmosphere looks good and the stability will naturally attract investors into the country. Were it to be an election year, business owners will be living in fear of the unknown but 2024 is free of all those encumbrances. No doubt, this is a good signal, not only for marketing professionals but also for other business owners.

deliver value to the owners. A solid financial system is an enabler of economic growth by supporting businesses. So, it is a win, win for everybody.

Mergers and acquisitions will usher in a robust financial system and stability. There may be fewer banks, but the ones that are on ground will be strong and solid.

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Where do you think Nigeria practitioners stand in the global evolving marketing communication landscape?

I think our practitioners have done well and are still doing very well. Without missing words, our practitioners can compete favourably with their contemporaries all over the world. They have continued to follow the global trends using technology to redefine operations in the industries.

With hi-tech and social media, the world is moving at a very vast pace and Nigeria practitioners are getting abreast of this. In Advertising, PR, Marketing Communication and Journalism, Nigerian practitioners have raised the bar. However, this has also created some challenges as a lot are being churned out without proper regulation and self- censorship. I think there is a need for caution in this regard.

Since the last banking industry consolidation and capital raising exercise of 2004/2005, banks have been using their discretion on capital raise. How significant is the planned industry wide capital raising exercise by the CBN? It is a significant policy drive for so many reasons. First, it’s been many years since regulatory induced capital raising exercise was done with much of the capital already watered down or inadequate for the volume of today’s banking business.

So, new capital is needed as working capital. It is also needed to acquire new technologies for greater efficiency and improved productivity. With digital technologies, for instance, bank branches may not be necessary as customers are able to do all of their banking transactions from the comfort of their homes or offices.

New capital injection will lower banks’ cost of capital as cheap funds would be readily available. This will be of benefit

How did you manage the seamless integration of the five legacy banks of the then Skye Bank Plc? The truth is that I have a good understanding of what organisational culture and values are. That is if you have a common culture and similar values, the message will resonate well with both the employees and the public.

So, the first thing is to have a common culture in the organisation. This means harmonising the cultures of the five legacy banks, training the staff on the culture (acculturation), and communicating the same.

We had excellent and appropriate messaging through market research on the kind of things the public wanted. We were strategic, painstaking, and methodical in our approach, using all the elements of persuasive communication, both internally and externally.

Akinyemi

“I think our practitioners have done well and are still doing very well. Without missing words, our practitioners can compete favourably with their contemporaries all over the world. They have continued to follow the global trends using technology to redefine operations in the industries.” to the banking public through low interest rates.

The next phase of capital raising exercise will require some skills on the part of brand managers because of the economic situation of the country and the increasing low levels of wages. How can brand managers approach this Challenge?

This is where appropriate brand communication is essential.

Understanding the psychology of the customers and their expectations will help in crafting appropriate messaging.

During the last exercise, it was the first time such an exercise would take place as everybody was in the market at the same time. Those who guided the exercise and handled their bank’s brand communication would have some experience and skills to leverage and successfully manage the forthcoming exercise.

But basically, understanding the customer psychology, targeting the appropriate demographics with capital and delivering the right messaging will be crucial.

Do you see changes in the communication models and tools used during the last time and those to be deployed during the next exercise?

Definitely, there will be some changes in the media of communication. Last time, communication was heavy in the print and electronic media as Banks bought media space in those channels.

With the internet technology prevalent now, most campaigns will be online in the media patronized by those with money. That is where there will be intense and heavy advert spending, less in the traditional media. The traditional media will always be there because you cannot do away with them.

With possible merger and acquisition coming, how should brand managers approach the exercise?

They have to lay out the value inherent in the exercise both for the customers, institutions and the financial sector. Bigger, solid and profitable banks have something for everybody. A strong bank will Inspire public confidence, be profitable and

If you are to advise the promoters of Brand Nigeria on how to position the country, what will you tell them?

In the first place, I don’t think we have people managing the Nigeria brand as of today. What we have is an information management team. i.e. the Ministry of Information and the office of special adviser on media and publicity, both serving as information managers for the country and Mr. President. It is my considered opinion therefore, for the governments to recruit Marketing/Brand management agencies to work with the existing structure to project the image of Nigeria positively to Nigerians and the outside world. I believe you will agree with me that we have more than enough competent agencies and professionals that can handle this assignment especially in this period when the country is faced with insurgency, killings, kidnapping and all sorts of unrest which has exposed the country’s image to questioning.

Do you also share the belief in some quarters that the government and its agencies don’t appreciate marketing communications practitioners the way they should and that things would have been better if communications experts were involved in the projection of the country?

Of course, we all know the truth; government attitudes towards engaging professionals in managing marketing communication have not been encouraging.

To answer the last part of the question, let’s look at how many brands and companies’ practitioners from this country have nurtured to greater heights. Nigeria is blessed with competent marketing communications experts that can compete favourably with their counterparts abroad. I believe therefore that if the Nigerian government explores the marketing communications practitioners that we have in the country, they will give necessary advice that will better position us as a nation.

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T H I S D AY • Thursday, JANUARY 18, 2024

Health & lifestyle

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

HowGatesFoundation is Saving, Improving Lives DespiteGlobal Crunch Despite the ongoing global crises and economic crunch, Chiemelie Ezeobi writes that the Gates Foundation is bent on saving and improving quality of lives. This week, the foundation announced its largest annual budget ever for the year, in the tune of $8.6 Billion. For the foundation, this increased funding includes support for health innovations that could save millions more lives by 2030

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he Bill & Melinda Gates Foundation (BMGF) on Monday, January 15, 2024, announced its largest annual budget to date as it works toward the goal of a healthier, more prosperous world for all.

With global health budgets in decline overall, a portion of the additional funding will go toward advancing global health innovations that will save and improve the lives of some of the world’s most vulnerable people, including newborn babies and pregnant mothers living in low-income communities. $8.6 Billion Budget to Save Lives Globally This year, despite the global crises, BMGF announced $8.6 billion as its 2024 budget.

This was formally approved by its board of trustees on January 13.

According to the foundation, the budget, which represents an increase of four per cent over last year and is a $2 billion increase over the 2021 budget, comes as global contributions to health in the lowest-income countries are stalling.

While overall aid spending has leveled off, sub-Saharan African countries saw a nearly eight per cent decline in aid in 2022, even as they face growing needs and shrinking budgets due to debt and other financial pressures. The foundation has committed to increasing its annual spending to $9 billion by 2026.

Burden to Tackle Child, Maternal Mortality “We can’t talk about the future of humanity without talking about the future of health,” said Bill Gates, co-chair of the Gates Foundation. “Every day, newborn babies and young children die simply because of where they were born. Mothers die giving birth, leaving families devastated.

“That keeps me up at night. It’s unacceptable, particularly because we have already developed many of the solutions that could save their lives. Building a stronger, more stable world starts with good health.”

Since its inception in 2000, the Gates Foundation has been focused on fighting the world’s greatest inequities, creating programs that address issues such as gender equality, agricultural development, and public education.

A major focus for the foundation has been on reducing inequities in health by funding the development of new tools and strategies to reduce the burden of infectious diseases and the leading causes of child mortality in low-income countries.

Thanks to strong commitments, the world has made tremendous progress in cutting child deaths from more than 9.3 million a year in 2000 to 4.6 million a year in 2022.

Deaths from malaria and HIV were cut in half during the past two decades, and wild polio, which was paralyzing 350,000 children a year, has been reduced to only 12 cases in two countries.

Investment in Global Health “An investment in global health is an investment in our future. When the world puts money behind proven solutions, it builds stronger, healthier, and more resilient communities for generations to come,” said Melinda French Gates, co-chair of the Gates Foundation.

“With low-income countries facing a whole host of challenges, now is the right time to recommit to saving lives and improving livelihoods.”

Need for Collaboration Despite the phenomenal progress, millions of children in poor countries

Melinda French Gates still die before their fifth birthday of preventable or treatable diseases, and nearly 300,000 women die in childbirth while the tools exist to prevent their deaths. Ninety per cent of the 340,000 women who die every year of cervical cancer live in low- and middle-income countries, even though there’s now a highly effective one-dose vaccine that can protect them against it.

At the foundation’s “The Future of Health” event at the World Economic Forum Annual Meeting, Bill Gates showcased several health innovations that the foundation has funded and its partners have been developing that could save the lives of women and children. His talk also addressed the role that artificial intelligence (AI) and other technologies can play in transforming health and improving lives for people living in low-income countries.

Gates further called on global leaders, philanthropists, CEOs, and others to help rebuild global trust and solidarity by joining together to save the most vulnerable people. The foundation predicts that if innovations currently in the R&D pipeline are properly funded, they could help cut maternal deaths by 40 per cent in the lowest-income countries by the end of the decade, and further drive down preventable child deaths.

Future of Health Innovations To emphasise that many solutions are simple, portable, and already close at hand, Gates and other foundation leaders carried backpacks in Davos emblazoned with “The Future of Health” and filled with examples of products that could save millions of lives.

One of the products are a package of tools that can save 65,000 women

Bill Gates by 2030 from dying of postpartum hemorrhage (PPH). PPH is the biggest cause of maternal death worldwide. The package includes a simple and inexpensive drape to better measure blood loss. When paired with interventions in a trial, these tools decreased cases of severe bleeding by 60 per cent.

The second one is a one-dose HPV vaccine that helps protect against one of the most common cancers among women worldwide. Millions of girls in low- and middle-income countries haven’t received HPV vaccines, while most girls in high-income countries have. As much as 90 per cent of cervical cancer deaths are in these countries.

With a one-dose HPV vaccine, the barriers to vaccination are much lower, and efficacy remains high and lasting.

Modeling estimates that more than 110 million cases of cervical cancer can be averted as the one-dose regimen is rolled out, in part through Gavi.

Third is an AI-enabled ultrasound that uses AI algorithms to identify obstetric risk in pregnancy. This tool can save 390,000 infant lives by 2030 by helping health workers identify high-risk pregnancies in low-resource settings.

The fourth on the list is a Vaccine microneedle array patches that can deliver vaccines through the skin without traditional needles, a complex cold chain, or a highly trained health worker to administer them. Early trials show these patches deliver the measles-rubella vaccine as safely and effectively as syringes and produce a similar immune response. This can help protect the hardest-to-reach children.

Next on the list is a stack of test strips that reduce production and

With global health budgets in decline overall, a portion of the additional funding will go toward advancing global health innovations that will save and improve the lives of some of the world’s most vulnerable people, including newborn babies and pregnant mothers living in low-income communities

shipping costs compared to existing cassette tests. These diagnostic test strips can be made in the billions and shipped inexpensively, allowing for faster response in the event of an outbreak. They can also increase the number of tests available for diagnosing malaria, of which two-thirds of cases go undiagnosed.

The sixth product is a multiple micronutrient supplements that restore a pregnant woman’s nutrient stores that she transfers to her baby. Studies show the supplements resulted in a reduced risk of low birth weight (12 per cent) and a reduced risk of preterm birth (eight per cent), and even better results among anemic and underweight women.

These supplements, which are available now, could prevent 425,000 stillbirths.

Measuring Impacts “The Gates Foundation measures impact in terms of lives saved and opportunities provided to the poorest,” said Gates Foundation CEO Mark Suzman. “This new high-water mark for our budget will further our mission to help create a world where everyone has the opportunity to live a healthy, productive life.”

The incremental resources for 2024, both financial and human capital, seek to accelerate efforts for greatest impact across the foundation’s diverse priorities, ranging from polio eradication to scaling child azithromycin delivery in the world’s highest mortality settings to improving digital courseware in postsecondary education to accelerating the world’s TB drug portfolio.

About the Bill & Melinda Gates Foundation Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives.

In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty.

In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of Co-chairs Bill Gates and Melinda French Gates and the board of trustees.

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T H I S D AY • Thursday, JANUARY 18 , 2024

news

NDLEA Lagos Command Set to Sensitise Women, Youth on Dangers of Illicit Drug Abuse, Prevention, Treatment

Fertility

With Dr. Kemi AILOJE drkemi@lifelinkfertility.com www.lifelinkfertility.com +2348033083580

Lifestyle And Infertility (Part 2)

Precious Ugwuzor The National Drug Law Enforcement Agency, NDLEA Lagos State Command, is planning to organise series of programs for women and youth across Lagos on illicit drug abuse, prevention, treatment, and care this year 2024.

The programs that are going to be in series and across locations are targeted at sensitising women and young people who are vulnerable to the menace of illicit drug use and abuse.

According to ACN Mallum Musa, Assistant State Commander Media and Advocacy, NDLEA Lagos, this is the initiative of the new State Commander, NDLEA Lagos State Command, CN, Abubakar Liman Wali.

He said: “The first of the series of events planned, which is coming up on Friday, January 19, 2024 at the Ilupeju area of Lagos, was borne out of the issues of drug abuse, which has rapidly become a significant public health concern in Lagos, particularly and Nigeria in general.

The widespread prevalence of illicit drugs and substance abuse is causing detrimental effects on our society, resulting in mental disorders, addiction, loss of life, and numerous other hardships.”

Quoting the National Household Drug Use Survey conducted by the National Bureau of Statistics, Centre of Research and Information on Substance Abuse with Technical support from United Nations Office on Drugs and Crime in 2018, he said an estimated 14.4 million individuals in Nigeria engaged in drug use/abuse which accounts for approximately 14.4 per cent of the population aged 15 to 65.

He added, “the most commonly abused substances include: alcohol, cannabis, cocaine, methamphetamine, tramadol, cough syrup with codeine and various local concoctions that have not yet been officially listed as controlled drugs or substance.

“Further analysis of the survey data reveals that approximately one in every seven Nigerians has used drugs within the past year. Additionally, it’s distressing to note that one out of every four drug user in Nigeria is a woman, and among the States, Lagos records the highest number of drug users.

“These drugs have an impact on feelings, perceptions, thoughts, processes, and behaviours. However, the specific effects can vary depending on the types of substances.

Some of the substances slow down the work of the central nervous system while some

Commander, NDLEA Lagos State Command, CN, Abubakar Liman Wali speed up the work of the CNS. “Others distort sensory perceptions of the users and can have an impact on the mood and thinking. As a result, mood, thought, and behaviour were all affected through the Central Nervous System and the brain.

“Misuse and abuse of those substances can lead to criminal and illegal behaviour, deficit in parental skills, child neglect, poverty, and other negative environmental influences. “ Other consequences include family disintegration, poor academic achievement, low job performance, and insecurities in our communities.

“Therefore, the family has a huge role to play in stemming the rate of drugs in Lagos and Nigeria as a whole. Our national development would greatly be impeded if our citizens are ravaged by the menace of illicit drugs and substance abuse. We are all aware that Health is Wealth.

“Health not only has direct impacts on human well-being but also is related to raising income levels through workers’ productivity, children’s education, savings and investments, as well as demographic structures. “ If the health of our nation is ravaged by drug use, we would not be able to actualise, realise, and maximise our potential. If our health is compromised by drugs, our ability to contribute to the economic and social well-being of our nation will remain a dream, thereby hampering our collective national development.”

Pearl Oncology Specialist Hospital Launches Ultra Modern Cancer Care Facility in Lagos Mary Nnah Pearl Oncology Specialist Hospital, a trailblazing medical facility dedicated to providing world-class cancer care in Nigeria, upgrades from a Cancer Clinic to a Specialist Cancer Care Hospital and officially opened its new facility with a grand launch event held in Lagos recently The facility was declared open in Lagos by the Managing Director, Sahara Group, Mr Kola Adesina alongside Director General, Nigeria Institute for Cancer Research and Treatment (NICRAT), Professor Usman Malami Aliyu who gave the event lecture which focused on Closing the Cancer Gap while Professor Francis DurosinmiEtti, a renowned Clinical and Radiation Oncologist at the University of Lagos was also in attendance.

In her Keynote address, the Founder and Chief Medical Director of the Hospital, Dr Omolola Salako explained that “Pearl Oncology Specialist Hospital is a specialized cancer centre with a vision to be the preferred choice of humane cancer care and an ally to conquer cancer in Africa. The hospital’s mission is to prevent, treat, cure and palliate cancer while advancing calm, clarity

and hope in every patient interaction”.

Since the clinical operations commenced in 2021, Pearl Oncology Specialist Hospital has expanded into four cancer centres, treating over 400 unique cancer patients.

“As a patient-centric cancer centre, we recognize the financial challenges associated with cancer care. Through our TGIF Cancer Clinic, we have actively addressed this concern by providing discounted and subsidized treatment costs for 70 cancer patients, resulting in a cumulative value of 30 million naira in treatment discounts. This initiative underscores our commitment to alleviating the financial burden on patients and ensuring accessibility to high-quality cancer care”, she added.

Mr Adesina who was the Chairman of the occasion, his speech, remarked that what sets Pearl Oncology Specialist Hospital apart from the others is the hospital’s approach to humane cancer care. He emphasised the importance of putting empathy at the forefront of medicine and praised Dr Salako for her focus on closing the cancer gap.

In his lecture, the Director General of NICRAT explained that eliminating the barriers to

cancer care was crucial and this was central to NICRAT’s mandate.

He commended the Pearl Oncologist Specialist Hospital’s efforts in reducing the cost of breast cancer care through its Thank God it’s Friday cancer clinic and technology-enabled services.

Nestled in the heart of Lekki, Lagos, the hospital represents a pivotal moment in the healthcare landscape, offering a comprehensive range of specialised oncology services and state-of-the-art facilities designed to meet the unique needs of cancer patients.

Pearl Oncology Specialist Hospital is a chain of cancer centres driving quality cancer care in various communities starting from the Lekk environs, where it is planted and expanding.

At inception, it decided to share its clinical resources and expertise with established hospitals in various communities. By so doing was making quality cancer care available in hospitals like Nigerian Navy Hospital, Ojo town-2021; RJOLAD HospitalGbagada, 2022; St Nicholas Hospital VI-2023 while more centres are loading.

Key Highlights of Pearl Oncology Specialist Hospital include:

HOW MALE FERTILITY IS AFFECTED BY LIFESTYLE CHOICES: •Smoking: cannegatively affect a man’s general health and fitness, causing a reduction in the quality and quantity of sperm produced. It lowers the level of antioxidant in the body whichprotects the body cells including the sperm cell from being attacked by free radicals. Smoking in males negatively affects sperm production, motility (movement) and morphology (forms) and is associated with a risk of DNA damage.

• Stress: stress hormones can interfere with the hormones controlling sperm production. Researches have shown that men under stress at work or home are more likely to have poor sperm quality.

• Diet: unbalanced diet has negative effect on health generally. Balanced diet with plenty of fruits and vegetables is a good approach to enhancing fertility. One of the most important nutrients for male fertility is zinc needed for normal male hormone function and sperm production.

The male sex gland and sperm contain high concentration of zinc so foods rich in zinc like fish, sardines, eggs, whole grains, brown rice and nuts should be taken.

• Caffeine: caffeine has a diuretic effectand this can deplete the body of vital fertility boosting nutrients such as zinc and calcium • Alcohol: excessive alcohol lowers testosterone levels and so affects both the quality/ quantity of sperm, and may reduce libido(sexual desire) as well as causing impotence in the long run.

• Weight: being overweight or obese can causes hormonal changes that lower the quality of sperm and make men less interested in sex. Overweight men are more likely to have problems getting an erection. It has also been proven that excessive fat increases body temperature around the testis, which can also affect sperm quality as does tight underwear.

• Sleep: lack of adequate sleep tends to cause tiredness and more likely to cause lower sperm count than in those who slept more. Men who sleep less than 6 hours a night would have lower sperm quality and relatively smaller testicles. Poor sleep has actually been found to interfere with sperm production • Overheating: several researches have proven that prolonged exposure to high temperature can have a negative impact on sperm production. Thus men who work in hot environment or use laptops on their lap may be indulging in unhealthy reproductive health practice Are you caught in the web? Lifestyle modification is one of the best options going forward.

WHATTHEN IS LIFESTYLE MODIFICATION? Lifestyle modification involves altering long term habits, typically of eating or

physical activities and maintaining the new behavior for months or years.

Why the need for lifestyle modification?

Lifestyle modification is usually recommended with the aim of promoting health, preventing diseases / disabilities and sometimes managing health conditions.

This involves making certain changes to our old habits with the aim of improving our reproductive functions, enhancing our fertility and wellbeing. Changing old habits are usually not easy but if we love ourselves enough we should be ready to part with killer habits in order to live the quality of life we deserve and desire. The earlier we start making necessary adjustment in our lifestyle the less health troubles we encounter in the future generally.

Developing new habit is usually difficult and challenging but persistency and diligence is needed.Lifestyles modification and behavioral changes, requires time, considerable effort and motivation These changes for Lifestyle modifications include the following: •Quit Smoking •Reduce / quit alcohol consumption •Moderate caffeine intake •Nutrition and dietary changes: consume foods rich in fibers such as fruits, vegetables, beans and whole grains, plant proteins (from nuts and beans arelow in calories).Eat more unsaturated fats e.g. coconut oil, soy oil, olive oil, palm kernel seed oil (avoid commercial baked and snack foods, reduce animal product). Lots of fluid intake (water) is needed as it encourages detoxification of the body.

•Reduction in meal portions, meal times and frequency of meals, avoid late night meals.

•Engaging in weight loss if applicable: maintain a BMI (Body Mass Index) of between 18.5-24.5kg/m2. You can find out from your health care provider if your BMI is adequate.

•Stress reduction and adoption of healthier stress management techniques (which may include taking out time to relax, play , laugh a lot ,vacation,etc) •Improving sleep quality(at least 6-8 hours daily) •Moderate exercise 30 to 60 minutes daily for weight management.

In conclusion,whether we are ready to start up a family now or later, our daily life choices we makehave either negative or positive impact on our fertility. In order to have the future we desire, we must make certain lifestyle changes.

For those already caught in the web of infertility, avail yourself of free information / counselling, where to begin, and what to do. It may not be as stressful or difficult as it mayseem especially knowing you are not alone in this walk towards successful parenthood.

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T H I S D AY

THURSday, JANUARY 18, 2024

business/MOnEYGUIDE

Tetracore Energy Partners APN to Expand Conversations at Africa Prosperity Dialogues 2024 Oluchi Chibuzor Tetracore Energy Group, a prominent player in Africa’s energy sector has announced its partnership and sponsorship at the Africa Prosperity Dialogues 2024 (APD 2024).

This 3-day annual summit under the auspices of the President of the Republic of Ghana,. Nana Addo Dankwa Akufo-Addo, the Africa Prosperity Network (APN), in collaboration with the African Continental Free Trade Area (AfCFTA) Secretariat, and Strategic Partners is a platform dedicated to bringing together Africa’s political and business leaders.

The event themed, “Delivering Prosperity in Africa - Produce, Add Value, Trade,” is designed to facilitate a comprehensive dialogue among key stakeholders from government, business, civil society, and academia to develop inclusive strategies for delivering prosperity in Africa.

This includes promoting

regional and continental integration, prioritizing marginalised populations, women, and youth in Africa’s development agenda, and providing a platform for sharing best practices and innovative solutions for replication across the continent.

Expressing the significance of Tetracore’s strategic collaboration with Africa Prosperity Network, the Program Executive, Tetracore Energy Group, Oladayo Williams stated “Our sponsorship of the Africa Prosperity Dialogues 2024 underscores our commitment to fostering sustainable development and energy security across the continent. We believe in the transformative power of collaborative dialogues, and the APD provides a unique opportunity to engage with thought leaders and shape the trajectory of Africa’s prosperity with the overarching goal of contributing to economic growth and prosperity in Africa, aligning with the AU

Agenda 2063.”

Chairman and Founder, APN, Gabby Asare OtchereDarko; emphasized, “Africa needs a paradigm shift and this transformation hinges on dedicated leadership, strategic investments in vital sectors, one single African Market, innovations, and a steadfast commitment to fostering trade and investment to unlocking the continent’s immense potential on the global stage. We believe that Global Africa has a responsibility and also an interest in being part of the economic integration that is happening in our continent.

This is the second edition of the Africa Prosperity Dialogue, so when we have these meetings, where political and business leaders meet, we think, plan and work together on how we can accelerate, deepen and expand the implementation of the single market project and present this to the assembly of heads of states and governments to the African Union to Adopt.”

NCC Rewards Nasarawa with Free Wireless Internet Cloud Igbawase Ukumba in Lafia The Nigerian Communications Commission (NCC) has rewarded Nasarawa State with free wireless internet cloud in recognition of it recent passage of the Right of Way Regulation 2023.

The free wireless internet cloud is to be installed in one of the state-owned tertiary institutions.

Governor Abdullahi Sule disclosed this Monday when

presiding over an emergency executive council meeting at the Government House, Lafia.

Recall that the Nassarawa State Right of Way Regulation 2023, which came into effect on the 29th of December, 2023 waives Right of Way (RoW) charges for the installation, placing, laying and maintenance of telecommunication network facilities in the state.

Sule recalled that the Isa Mustapha Agwai Polytechnic (IMAP) benefited from a similar

gesture during the era of Professor Isa Pantami.

The governor also announced that the state was in receipt of some funds which his administration had pursued for the past two years.

Sule, therefore, maintained that it was necessary to notify the executive council following the arrival of the Funds last week, with the purpose of ensuring its maximum utilization.

Coca-Cola Consolidates on Market Leadership

Raheem Akingbolu

Coca-Cola Nigeria has gained double honor for water stewardship and social enterprise at the SERAS Africa Sustainability Awards 2023.

The award event was held on December 15, 2023 in Lagos, with the theme ‘Circular Economy as the New Market Disruptor: SDGs Innovation as key to vision 2030’.

Public Affairs, Communications, and Sustainability Director at Coca-Cola Nigeria, Nwamaka Onyemelukwe, said the company’s dedication to sustainability remained a core

function of its operations.

“These awards affirm our resolute commitment to sustainability and corporate social responsibility. It underscores our unwavering pledge to contribute positively to the communities we serve.

“Coca-Cola Nigeria’s noteworthy accomplishments at the 2023 SERAS Awards suggest its unyielding dedication to impacting society and the environment positively,” Onyemelukwe said.

She said endeavoring to sustain these achievements, the company aspires to steer others towards a sustainable

future. The beverage company contributions were lauded across circular economy, women empowerment, health/wellbeing, water management and social enterprise of the year.

The firm garnered top awards in Best Company in Water Sanitation and Social Enterprise of the Year, through its Watershed for All project and the Empowering Collectors Initiative (ECI).

Coca-Cola Nigeria triumphed after an evaluation of 101 participating entities, meeting the stringent guidelines of ISO 26000 and the Global Reporting Initiative.

Nigerian, Others Recognised as Global Market Research Legends The Chief Executive Officer of Pierrine Consulting, Seyi Adeoye, has been honoured as a ‘Global Market Research Industry Legend’ by ESOMAR and Insight250.

The Global Market Research Industry Legend list include only the top 60 professionals in the market research space, among which only two persons were recognised in Africa.

In a statement released on Friday, Adeoye pointed out that the recognition extended beyond personal

achievements.

According to him, the recognition was a result of innovation, collaboration, and unwavering pursuit of excellence that defined Pierrine Consulting as a whole.

“Throughout the year, Pierrine spearheaded transformative research initiatives in finance, food, beverage, and beauty, reshaping brand destinies and forging meaningful connections with consumers.

“We expanded beyond our Lagos headquarters and established new offices

in Ghana and Kenya, bringing our expertise closer to diverse markets and providing tailored solutions to local businesses,” he said.

Adeoye admitted that the road to success did not only push for external boundaries and the height attained, but also insisted that the commitment to excellence as evidenced by the retaining of the ISO certifications, and ensuring the highest standards of quality and integrity in its processes all led to the recognition.

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

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

• Source - CBN

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 29th September , 2023

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY •THURSday, JANUARY 18, 2024

29

mARKET NEWS

NGX Benchmark Index Crosses Historic 90,000 Basis Points

Kayode Tokede

The stock market section of the Nigerian Exchange Limited (NGX) yesterday crossed the historic 90, 000 basis points as investors continued to take position in fundamental stocks on the bourse.

Specifically, the All-Share Index (ASI) gained 2,092.15 basis points or 2.38 per cent to close at 90,063.25 basis points from 87,971.10 basis points it

opened for trading, to bring the Year-till-Date performance to 20.45per cent.

Also, market capitalisation rose

by N1.14 trillion or 2.38per cent to close at N48.284 trillion from N48.139 trillion the stock market opened for trading.

Investors sustained buy interests in Dangote Cement Plc, BUA Cement Plc and Geregu Power Plc impacted in the stock market performance, outweighing selloffs in Zenith

P R I C E S MaiN Board

F O R DEALS

Bank Plc, Guaranty Trust Holding Company and Dangote Sugar Refinery Plc. Dangote Cement gained 9.86per cent or N40.60 to close at N452.50 per share from N411.90, while BUA Cement increased by 9.99 per cent or N11.25 per share to close at N123.90 per share from N112.65 per share.

Performance across sectors was largely positive, as the NGX Industrial Goods Index increased by 8.8per cent, NGX Insurance

S E C U R I T I E S Market Price

quantity traded

Index rose by 3.6per cent, NGX Consumer Goods Index gained 1.9per cent and NGX Oil & Gas Index appreciated by 0.5per cent.

Meanwhile, the NGX Banking Index was down by 3.3 per cent, the sole loser of the day.

As measured by market breadth, stock market sentiment was positive, as stocks 48 gained relative to 35 losers.

AIICO Insurance Plc, SUNA Assurance Plc, Honeywell Flour Mills Plc, and Wema Bank

T R A D E D

value traded ( N )

MaiN Board

A S O F

Plc emerged the highest price gainer of 10 per cent each to close at N1.54, N1.76, N71.50, N4.84, and N11.60 per share, respectively.

BUA Cement gained 9.99 per share to close at N123.90 as May & Bakers appreciated by 9.98 per cent to close at N6.82 per share. In addition, Transcorp rose by 9.97 per cent to close at N17.54 per share as International Breweries Plc gained 9.95 per cent to close at N6.08per share.

J A N U A RY DEALS

On the other hand, R.T. Briscoe Nigeria led the losers’ chart by 10 per cent to close at 81 kobo, per share. Dangote Sugar Refinery followed with a decline of 9.95 per cent to close at N73.30, while Nigerian Exchange Group lost 9.84 per cent to close at N22.90, per share.

Red Star Express depreciated by 9.47 per cent to close at N4.11, while Sterling Financial Holdings Company declined by 9.09 per cent to close at N6.90, per share.

/ 1 7 / 2 4 Market Price

quantity traded

value traded ( N)

30

THURSDAY, JANUARY 18, 2024 • T H I S D AY

Thursday, January 18, 2024

Thisday

Afrinvest Index down 36bps Thisday Afrinvest 40 index declined by 36bps to close at

THISDAY AFRINVEST 40 INDEX

4561.31 index points following price decline in GTCO (Ͳ1.8%), ZENITH (Ͳ1.4%), and ACCESS (Ͳ0.7%). Cumulatively, these

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

stocks account for 22.0% of the index.

NGX Eclipses 90k Index Point Mark… ASI up 2.3%

Ticker

Current Price

Previous Price Change

Current Price Change Weighting YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

THISDAY AFRINVEST 40

4561.31

-0.36%

93.1%

356.1%

14.1%

3.2%

6.9x

1.6x

Divindend Earnings Yield Yield

3.5%

Yesterday, , price uptick in DANGCEM (+9.8%), BUACEMENT (+9.9%), BUAFOODS (+5.4%), and 47 others propelled the domestic bourse to a new milestone of 90,063.27 index point, following a 2.3% rally in the ASI. Consequently, YTD return improved to 20.4% (previously: 17.6%) while market capitalisation advanced by ₦1.1tn to ₦49.2tn. Activity level strengthened as volume and value traded improved 21.6% and 3.8% to 1.2bn units and ₦16.3bn, respectively.

Bullish Sector Performance Across sectors, performance was bullish as five indices under our coverage closed in the green while one lost. The Industrial Goods and Insurance indices led gainers, up 8.7% and 3.6% respectively following a price uptick in DANGCEM (+9.8%), BUACEMENT (+9.9%), AIICO (+10.0%) and SUNUASSU (+10.0%). Trailing, the Consumer Goods and Oil & Gas indices gained 1.9% and 0.4% due to buying interest in BUAFOODS (+5.4%), INTBREW (+9.9%), and ETERNA (+9.8%). Bargain hunting in CHAMS (+9.7%) pushed the AFRͲICT index up 1bp.

Conversely, sell pressure on UBA (Ͳ4.2%), and ZENITH (Ͳ1.4%) dragged the Banking index down by 3.3%.

Outlook

Investor sentiment, as measured by market breadth,

dampened to 0.29x from 1.97x in the prior session as 47 stocks advanced, 35 declined while 42 closed flat. Tomorrow, we anticipate the market to continue its bullish performance baring any negative shock.

Corporate Action

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

SUN UA SSUR

1.76

10.0%

ST ER LIN GN G

106.1

-9.1%

H ON YF LOUR

4.84

10.0%

J A P A ULGOLD

101.1

8.9%

90.5

10.0%

T ic k er

Oxygen X Finance Company Limited. The purpose subsidiary will provide innovative and seamless digital lending solutions to address distinct challenges faced by individu-

T ic k er

GUIN N ESS

71.50

10.0%

T R A N SC OR P

A IIC O

1.54

10.0%

J A IZ B A N K

83.1

1.4%

WEM A B A N K

11.66

10.0%

UN IT YB N K

73.4

0.7%

B UA C EM EN T

123.90

10.0%

VER IT A SKA P

63.7

9.5%

M A YB A KER

6.83

10.0%

A IIC O

61.1

10.0%

T R A N SC OR P

17.54

10.0%

NB

48.0

1.8%

IN T B R EW

6.08

9.9%

CHA M S

44.6

9.7%

NNFM

53.65

9.9%

UN IVIN SUR E

42.6

9.1%

Access Holdings Plc obtains the CBN’s approvalͲinͲprinciple to establish a consumer lending subsidiary to be known as

T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

P ric e

P ric e C hg %

T ic k er

Value

R T B R ISC OE

0.81

-10.0%

NB

2018.7

1.8%

D A N GSUGA R

73.30

-10.0%

T R A N SC OR P

1576.8

10.0%

N GXGR OUP

22.90

-9.8%

Z EN IT H B A N K

1099.8

-1.4%

R ED ST A R EX

4.11

-9.5%

A C C ESSC OR P

935.9

-0.7% -9.1%

T ic k er

P ric e C hg %

ST ER LIN GN G

6.90

-9.1%

ST ER LIN GN G

800.3

als and businesses.

D A A R C OM M

0.99

-8.3%

F LOUR M ILL

660.8

5.1%

R EGA LIN S

0.57

-8.1%

N A SC ON

657.8

-7.8%

N A SC ON

65.95

-7.8%

UB A

583.9

-4.3%

-7.5%

D A N GC EM

551.0

9.9%

-7.4%

D A N GSUGA R

527.9

-10.0%

OM A T EK T H OM A SWY

Afrinvest West Africa Limited

0.98 2.50

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

7.8%

31

THURSDAY, JANUARY 18, 2024 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 16Jan-2024, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 365.33 365.33 17.89% Afrinvest Plutus Fund 100.00 100.00 8.96% Nigeria International Debt Fund 342.25 342.25 0.49% Afrinvest Dollar Fund 110.59 110.59 0.33% 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 N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.00% Anchoria Equity Fund 234.57 237.48 21.21% Anchoria Fixed Income Fund 1.34 1.34 4.16% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A ARM Short Term Bond Fund N/A N/A N/A AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.36 107.36 815.00% AVA GAM Fixed Income Naira Fund 1,194.22 1,194.22 1197.00% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.02 1.02 8.66% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CHD Nigeria Bond Fund N/A N/A N/A CHD Nigeria Dollar Income Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 11.43% Cordros Milestone Fund 188.47 189.92 9.00% Cordros Fixed Income Fund 108.02 108.02 6.80% Cordros Halal Fixed Income Fund 109.82 109.82 8.93% Cordros Dollar Fund ($) 114.77 114.77 7.11% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 13.78% Emerging Africa Bond Fund 1.11 1.11 2.45% Emerging Africa Balanced Diversity Fund 1.46 1.48 54.79% Emerging Africa Eurobond Fund 107.70 107.70 0.93% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Dollar Fund N/A N/A N/A FBN Smart Beta Equity Fund N/A N/A N/A FBN Specialized Dollar Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 6.53% Legacy Debt Fund 3.58 3.58 2.24% Legacy Equity Fund 3.19 3.26 15.15% Legacy USD Bond Fund 1.33 1.33 4.32% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 6,600.28 6,655.79 N/A Coral Income Fund 4,012.65 4,012.65 7.99% Coral Money Market Fund 100.00 100.00 11.79% FSDH Dollar Fund 1.20 1.20 0.00%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 21.57 21.73 17.38% Meristem Money Market Fund 10.00 10.00 12.41% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) N/A N/A N/A Norrenberger Money Market Fund (NMMF) N/A N/A N/A Norrenberger Dollar Fund (NDF) ($) N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.69 2.73 15.63% PACAM Fixed Income Fund 12.04 12.29 49.37% PACAM Money Market Fund 10.00 10.00 0.00% PACAM Equity Fund 2.64 2.67 22.14% PACAM EuroBond Fund 131.19 134.41 -0.54% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund N/A N/A N/A SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund N/A N/A N/A STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 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 Stanbic IBTC Enhanced Short-Term Fixed Income Fund N/A N/A N/A Stanbic IBTC Absolute Fund N/A N/A N/A Stanbic IBTC Aggressive Fund N/A N/A N/A Stanbic IBTC Conservative Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.67 1.69 23.18% United Capital Balanced Fund 2.10 2.11 13.37% United Capital Wealth for Women Fund 1.61 1.62 13.06% United Capital Sukuk Fund 1.18 1.18 9.31% United Capital Fixed Income Fund 1.96 1.96 7.39% United Capital Eurobond Fund 124.61 124.61 5.30% United Capital Global Fixed Income Fund 1.09 1.09 10.12% United Capital Money Market Fund 1.00 1.00 10.51% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 20.80 20.06 10.11% Zenith ESG Impact Fund 24.33 24.56 11.67% Zenith Income Fund 25.43 25.43 0.37% Zenith Money Market Fund 1.00 1.00 11.86% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 10.91 11.01 5.89% Vetiva Consumer Goods Exchange Traded Fund 13.40 13.50 4.83% Vetiva Griffin 30 Exchange Traded Fund 32.33 32.53 6.02% Vetiva Money Market Fund 1.00 1.00 10.38% Vetiva Industrial Goods Exchange Traded Fund 30.63 30.83 4.35% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 3.05%

REITS

NAV Per Share

Yield / T-Rtn

N/A 59.38 101.79 N/A

N/A 12.00%

Bid Price

Offer Price

Yield / T-Rtn

N/A N/A N/A 26.78 42.18

N/A N/A N/A 27.18 42.65

N/A N/A N/A 13.93% 11.98%

NAV Per Share

Yield / T-Rtn

N/A

N/A

Fund Name

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

EXCHANGE TRADED FUNDS

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

I N F R AST R U CT U R E F U N D

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

N/A

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.

32

THURSDAY, JANUARY 18, 2024 • THISDAY

polity Re: Malabu: Court Refuses to Suspend Trial for EFCC to Hunt Fresh Evidence P Dele Oyewale

remium Times’ story of January 14, 2024 on the application of EFCC’s counsel, Sylvanus Tahir, SAN, for an adjournment, in the Malabu case before Justice Idris Kutigi of the Federal Capital Territory, FCT, High Court, Abuja, is shocking. The story, which can best be described as jaundiced and shorn of finesse of objective reporting, was slanted to portray the EFCC as a desperate Agency of government hunting for evidence in the trial of all the defendants implicated in the OPL 245 oil block awarded to Malabu Oil and Gas Limited in 1998.

The reporter, seeking ways and means of denigrating the Executive Chairman of the EFCC, Ola Olukoyede, insinuated that he directed the Commission’s counsel to declare government’s interests in the case to secure an adjournment. An adjournment, in any matter, could be sought by a counsel if there are justifiable grounds for it. In this particular matter, Tahir only sought the adjournment for him to sufficiently address the court having been instructed to take over the case owing to some developments in the matter the EFCC found disconcerting.

Besides, Premium Times had earlier reported that “EFCC Surrenders, says no evidence of wrongdoing against Adoke, others” , without digging deeper into the whys and wherefores of developments in the case.

The truth of the matter is that the prosecution counsel, Offem Uket, that submitted that the EFCC lacked sufficient evidence to successfully prosecute six of the seven defendants standing trial in the case, was on a frolic of his own and has since been queried by the Commission. How on earth will a counsel that had already presented 10 witnesses before the court in a matter that had lasted over four years, suddenly sought termination of the matter

EFCC boss, Mr. Ola Olukoyede

in what can be described as a judicial abortion? This is the crux of the matter and a situation that should ordinarily make Premium Times dig deeper into the “ mystery” unfolding in the case.

It is needful to state that the EFCC has not “surrendered” in any way concerning the Malabu case. The Executive Chairman never instructed

Uket to throw in the towel in the matter.

He assumed office a couple of months ago and had not been briefed on what Uket came to the court with. As a Chief Executive, it is simply preposterous to be portrayed in bad light over a matter he had not addressed. The Commission is awaiting the ruling of His Lordship on the matter. The public has a right

to be properly informed about the position of the EFCC and its leadership on this issue.

There is no compromise of any sort anywhere and there won’t be at any time.

For now, Premium Times should sheathe its sword and allow the court’s proceedings run its full course. *Dele Oyewale is Head, Media & Publicity of the EFCC.

NEWS

Asue Ighodalo Declares for Edo Guber, Pledges to Deliver Solutions Adibe Emenyonu in Benin City

A governorship aspirant on the platform of the Peoples Democratic Party (PDP) in Edo state, Mr. Asue Ighodalo, yesterday formally declared his intention to contest for the state’s governorship seat.

Addressing a crowd of leaders and party supporters at the party secretariat on Airport Road in Benin City, he said he was running for the position to deliver real solutions that can unleash the promise of a new future for Edo people.

Ighodalo noted that his ultimate

objective in governance was to lead a government that eliminates deprivation in all its forms, and that makes Edo the best place to live and work in Nigeria.

He promised that the economic policies to be put in place will uplift the poor, support the hardworking men and women of the state, and encourage entrepreneurship and innovation.

He listed the area of focus to include good and affordable healthcare for all, decent living conditions and basic food security, tackle insecurity in all forms as well as maximise the rich cultural heritage

of the state.

Others according to him are: Development of infrastructure to facilitate growth by building and maintaining high-quality roads across the state, build rail networks across the three senatorial districts and continue the ongoing plan to develop and complete the Benin River Port.

“As governor, by the grace of God, my mission will be to create an Edo where quality education is accessible to all, where hard work is rewarded and where our talented youth can turn their dreams and aspirations into reality.

“ I believe in the promise of an Edo where every person, regardless of their start in life, can write their own story of success -if we take the right steps, together,” he added.

Ighodalo further told the crowd of party supporters that if given the opportunity, he intends to improve access to electricity and invest and replicate the success of Ossiomo Independent Power Project across the three senatorial districts.

He also promised to explore affordable ways of providing electricity in the rural areas of the state, as well as create enabling environment for business to thrive across the state.

The PDP governorship aspirant disclosed that his background that span both the public and private sectors, has shaped his understanding of the systemic challenges the people face in Nigeria.

“My policies as governor — if you will give me your mandate - will be focused on unlocking this promise, for all of us, in key areas. My ultimate objective is to lead a government that eliminates deprivation in all its forms, and makes Edo the best place to live and work in Nigeria.

“Our economic policies will uplift the poor, support the hardworking

NSCIA, MURIC Reject Same Sex Marriage, Other Anti-social Behaviour Onyebuchi Ezigbo in Abuja The Nigeria’s Supreme Council of Islamic Affairs, (NSCIA) and Muslim Rights Concern (MURIC) have condemned all forms of anti-social behaviour in the form of lesbianism, bisexuality, transgender, queer , among others. They described the lifestyle as evil and against the teachings of Islam.

Leaders of NSCIA and MURIC bared their minds on yesterday at the national conference organised by the Supreme Council for Shari’ah in Nigeria.

The conference which was held at the National Mosque, Abuja with the theme: “Matters arising from

2023 election and associated socioeconomic challenges, also assessed the performance of the Tinubu-led administration.

They accused the government of marginalising of Muslims appointments despite their support for Muslim-Muslim ticket.

“It is now more like ChristianChristian ticket. Because the major appointments all go to Christians,” the scholars said.

Speaking to journalists, Executive Director of MURIC , Prof Ishaq Akintola said LGBTQ had become one of the issues that exposes the evil of the West.

He said: “The West tells us that we

should marry only one woman and the same West their men go about having tens of concubines, that same one woman they said you should marry experience victims of divorce. “ And 80 per cent out of hundreds of marriages in the West are shattered.

Children demonstrate indiscipline of the highest order. Imagine a lady of maybe 18-20 years, probably from America or so went to court to sue her parents for bringing her into this world without her consent.

“So we should be accessing them from this angle that what kind of moralities is the West preaching?

LGBTQ, man to marry man and woman to marry woman.

“There are certain countries in the West too today that are looking for ways to boost their population and yet they are talking about LGBTQ and they want us to legitimise it. It is Satanism, it is not civilisation but those signs are mentioned in Isaiah chapter 4, that the end of the world would come before the world will come to an end and it corresponds with the signs Islam also sees about the end of the world.”

Speaking in the same vein, Deputy Secretary of the Nigerian Supreme Council of Islamic Affairs, (NSCIA) Prof. Salisu Shehu expressed worry that LGBTQ was spreading so fast because of the influence of informa-

tion and communication technology especially the social media. He said that the youths were much more attune to the social media.

“It is spreading especially among the youths very rapidly and we have to be proactive.

“It effects on society generally whether you are a believer in any religion or none religion we should appreciate the fact that LGBTQ is a monumental unprecedented sexual perversion that has the potent of destroying humanity in it entirety.

“It is going to designate human varieties. There is nothing that come to the human that is as evil as the LGBTQ.

men and women of this state, and encourage entrepreneurship and innovation.

“No part of Edo will be left behind. From the high plains of Kukuruku to the lush vegetation of Ilushi; from the rich, red sands of Sakponba, to Esanlands’ incredible biodiversity, we have all that is needed to make our state a mesmerizing destination for progress and wealth.

“Across each administrative zone, in Edo North, Edo Central and Edo South, we will create practical and focused economic development teams that will harness each area’s unique potential to create wealth for all our people,’’ he stated.

He expressed the belief that education is the gateway to opportunity, vowing to continue to invest in education as a priority from primary schools to secondary and tertiary institutions — throughout the state.

“We will ensure that our educational system becomes a beacon of hope, and ladder to opportunity. We will make Edo State’s educational system our key to ending generational poverty, for good, in our great state.

“If, by the grace of God and the will of the people of Edo State, I am given the opportunity to serve, I intend to be the Chief Welfare Officer of the state, providing good and affordable healthcare, decent living conditions and basic food security for all our people.

33

T H I S D AY • THURSDAY, JANUARY 18, 2024

NEWS

2024 PAEDIATRIC ASSOCIATION OF NIGERIA CONFERENCE...

L-R: President, Paediatric Association of Nigeria (PAN), Dr. Femi Ogunrinde; Executive Secretary, National Primary Healthcare Development Agency, Dr. Muyiwa Aina; Director General, Nigeria Centre for Disease Control and Prevention, Dr. Ifedayo Adetifa; President-elect, PAN, Dr. Ekanem Ekure; Senior Special Assistant to the President on SDGs, Adejoke Orelope-Adefulire; chairman of the occasion, Prof. Oladapo Afolabi; and Chairman, PAN PHOTO: SUNDAY ADIGUN Conference 2024 Local Organising Committee, Dr. Seinde Eletu, at PAN's 55th annual general meeting and scientific conference in Lagos... yesterday

Tinubu: Akande’s Honesty, Integrity Motivate Me Says he learnt perseverance, resource management from him

Deji Elumoye in Abuja President Bola Tinubu has disclosed that he benefitted immensely from his close relationship with long-time confidant, Chief Bisi Akande, and therefore considered himself lucky to have him.

Speaking Tuesday at a dinner held at the State House Conference Centre to celebrate the 85th birthday of the elder statesman, the president said he was delighted that the sentiments he had about the former Chairman of the All Progressives Congress (APC), who is also a former governor of Osun State, resonated well with other speakers at the event.

“Listening to the remarks from the podium, they are inspirational enough. It has been said that you are Mr. Integrity, we, the younger

ones, are very lucky to have you.

You deserve to be celebrated.

“Thank you for always being forthright and being honest. I do not want to repeat myself beyond the fact that. Lucky enough, for me, I have you. I thank God for your life,” the president said to Akande.

He went further to paint a very personal image of the relationship he has with Akande when he disclosed that the octogenarian taught him the virtues of perseverance, patience, honesty and management of resources.

“We the younger ones are very lucky to have you. You deserve to be celebrated. Anyone who wants to learn forgiveness, candour and reliability should see Chief Bisi Akande.

“You’re a father to many and

you’ve lived a life worthy of emulation. You taught me perseverance, patience, honesty and management of resources, be it human and capital resources," he said.

Recounting the role of Akande in the process leading to the emergence of the APC as a mega party and its eventual election victory in 2015, Tinubu stated that the lessons in forgiveness and patience that he learnt from the elder statesman eventually led him to becoming the President of Nigeria.

His words: “Anyone who wants to learn about forgiveness, candour, reliability, should see Chief Bisi Akande. You taught us perseverance, patience, honesty, and management of resources, be it human or capital.

See me standing before you, I am the President of the Federal Republic

of Nigeria.

“You know how many times and how long that we spoke truth to power, deliberate on how to take the cuff off this nation, how to change and comply with our developmental objectives. You have been doing it whispering silently, ‘be patient, forget the past, look forward,” the president said.

In his response, Baba Akande

described Tuesday's dinner as a surprise gesture from the first family, thanking the president and his wife, Senator Remi Tinubu.

“Yesterday evening when I got to Ibadan ready for today’s celebration, because I wanted an educational talk, they said we were going to talk about leadership, I was happy.

“Early in the morning someone called me to say, have you seen

what baba sent to me? I said ‘no.’

So I opened my phone. It was an invitation for this dinner.

“Like I felt when I was celebrated at 70, so I felt this morning and here we are. I don’t know what you see in me, and I don’t know what younger people see in older people, but I will attend your 100th birthday. Thank you very much for being a loyal friend."

WEF: Jimoh Ibrahim Canvasses World Leaders’ Support for Tinubu’s Economic Policies

Utomi: Atiku, Obi and Kwankwaso Seeks investment in N46bn bitumen in Ondo Have Agreed to Float New Party Emmanuel Addeh in Abuja

Says Nigeria’ll rise again in 2027 via merger

Chuks Okocha in Abuja Renowned Political Economist, Professor Pat Utomi, has reiterated that former Vice-President, Atiku Abubakar, a former governor of Anambra State, Peter Obi and former governor of Kano State, Rabiu Kwankwaso, had agreed to float a political party.

He stressed further that the proposed merger of opposition parties to wrest power from the All Progressives Congress (APC) in 2027 was not for ‘machine politics’ but for genuine service to the people.

Utomi, the Convener of the National Consultative Front (NCFront) and the BIG TENT disclosed this in a statement, explaining that the proposed merger party would not be a hurried coupling together of interests.

He has reacted to the comments by the Deputy National Organising Secretary of the APC, Nze Chidi Duru, on the planned merger of some political parties.

Utomi expressed his optimism that the three presidential candidates in the 2023 general election, had agreed to form a formidable party that would sack the APC in 2027, adding that Nigerians needed people who would make sacrifices for the development of the nation.

“I read with interest the response

by Nze Chidi Duru to speculations about what has been called a merger of opposition parties. That response itself is much evidence of progress.

“To clarify, what I have been speaking to is not the hurried coupling together of interests to create a platform for machine politics like the Daley machine in Chicago to obtain desired elections outcomes and foist state capture on a wearied people.

“What I have been speaking to is the founding of a real political party.

This is something that has eluded this fourth Republic,” Utomi explained with clarity.

According to him, their efforts

began with the idea that would birth a world view of this party, which some called ideology.

He explained that the new merger political party would develop shared values around the approach to a people’s centered political party, stressing that the new party would develop a structure for communitybased solutions to the personal troubles of people and flow of what the people want into the policy process.

Chairman, Senate Committee On Inter-Parliamentary Affairs, Senator Jimoh Ibrahim, yesterday at the ongoing World Economic Forum (WEF) canvassed the support of the international community for the economic policies of the Bola Tinubu-led government.

He emphasised the need for world leaders to examine the economic policies of the president which he said would turn around the living standard of the people of the nation if supported by the international community.

Ibrahim, while delivering his paper on “Abandoned Projects in Africa”, at the five-day economic

Senator Jimoh Ibrahim in Davos, Switzerland... yesterday forum holding in Davos, Switzerland, drew the attention of world leaders to the $46 billion bitumen deposit in Ondo state, saying it

Taraba: Supreme Court to Decide Appeal against Governor Agbu Before January 26 Alex Enumah in Abuja A five-member panel of the apex court yesterday, reserved judgment in the appeal by Yahaya Sani of the New Nigeria People's Party (NNPP) against the election of Kefas Agbu as Taraba State Governor.

The panel presided over by Justice Kudirat Kekere-Ekun, said its judgment would be delivered on a date that would be communicated to parties, shortly after their respective lawyers have adopted and argued their briefs of arguments for and against the appeal.

The appeal by constitutional provisions would expire on January 26, hence the need for its delivery before the expiration of the date.

Sani and the NNPP are asking the apex court to set aside the concurrent judgments of the two lower courts which had dismissed their case against the election of Agbu and the People's Democratic Party (PDP) for lacking in merit.

His appeal was argued by Olusegun Jolaawo, who prayed the panel to allow the appeal, set aside the two lower court's decision and declared him the authentic winner of the March 18, 2023 governorship election in Taraba State.

However, the respondents which included the Independent National Electoral Commission (INEC), the governor and the PDP, argued otherwise, insisting that the case of the appellants was incompetent

and should be dismissed.

After listening to all counsel in the matter, Justice Kekere-Ekun subsequently announced that judgment has been reserved to a date that would be communicated to parties in the matter.

The Court of Appeal, Abuja, had last November, affirmed the election of PDP's Agbu as Governor of Taraba State.

A three-member panel of the appellate court in two separate appeals held that Agbu, was lawfully declared winner of the March 18 governorship election in Taraba State.

Delivering judgment in the appeal filed by Sani of the NNPP, the appellate court had held that

the allegations of non-compliance, irregularities and other malpractices were not proved by the appellant.

In a unanimous judgment delivered by Justice Peter Affen, the appellate court had faulted the appellant for dumping documents on the court, stressing that even if there was manifest incidents of malpractices or irregularities on the face of the documents, the appellant ought to have led oral evidence to support his allegations.

A three-man panel of justices led

by Justice G. A. Sunmonu of the Taraba state Governorship election petition Tribunal had, on September 30 dismissed the petition filed by the NNPP and its governorship candidate for lacking in merit.

should not be left untapped.

He said: “A cursory look at the economic policies of President Bola Ahmed Tinubu of the federal republic of Nigeria portends brighter future for the people of the federation.

“With your support as world leaders, these policies would turn around the country’s economy and by implication the standard of living of the citizenry.

“It’s imperative to also mention here that the $46 billion bitumen deposit in Ondo state cannot be sleeping. It’s yearning for exploration and exploitation for the development of the people and the state.

“So, I want to call you world leaders that your collective effort is what is needed to change the narrative to improve the living standard of humanity.”

The senator representing Ondo Southern Senatorial District charged the world leaders on the need for collective efforts in making the world economy better.

The five-day event commenced on Monday, January 15 and would end on Friday, January 19.

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THURSDAY, JANUARY 18, 2024 • T H I S D AY

NEWS

Economic empowerment materials to the less privilege...

L-R: Programme Facilitator, Dr Abubakar Jimoh; Shehu of Borno, Dr. Abubakar Umar El-kanemi; initiator, Hajiya Hadiza Mamman Vatsa Foundation ,Hadiza Mamman Vasta during a presentation of grinding machines and other economic empowerment materials to the less privileged by the foundation at the Shehu Palace Maiduguri, Borno State ... yesterday

Obi: Buhari Failed in Security for 8yrs, Tinubu Repeating Same Mistake Chuks Okocha in Abuja

Presidential candidate of the Labour Party in the 2023 general election, Mr Peter Obi, yesterday, said former President Muhammadu Buhari failed in the area of security for eight years and that President Bola

Tinubu appeared to be repeating the same mistake.

He, therefore, called on the Tinubu administration to take decisive action on the growing insecurity in the country.

Obi was reacting to the renewed security breaches in some parts

of the country, especially in the Federal Capital Territory (FCT), where gunmen had been wreaked heinous crimes on the city.

The former governor of Anambra State in a statement, yesterday, described the recent killings of two abducted young girls in Abuja as

depressing, adding that, it was time for the leaders, to take all forms of serious measures to tackle the situation.

“As terror attacks, banditry, kidnappings and violence continue to rage through the country, it is more concerning now with the surge

of violence spreading through the Federal Capital Territory, Abuja.

“The recent killings of two abducted young girls in Abuja makes it more depressing and urgent. It is now time for we the leaders, to take all forms of serious measures to tackle the situation.

Obi of Onitsha Attacks Soludo over Ubah's Chieftaincy Crisis Accuses him of belittling monarchs

David-Chyddy Eleke in Awka The Obi of Onitsha, Igwe Alfred Nnaemeka Achebe, has expressed unhappiness about the controversy trailing the conferment of chieftaincy

title on the senator representing Anambra South senatorial zone, Senator Ifeanyi Ubah.

Anambra State Commissioner for Local Government and Chieftaincy Matters, Hon Tony Collins

Educationist: Free Education Can Reduce Nigeria's 10.5m Out-of-School Children by 90% Gilbert Ekugbe

The Founder, Kingston Nursery and Primary School, Rev. Victor Basola, yesterday stated that Nigeria could reduce the 10.5 million out-of-school children by 90 per cent if managers of the economy adopts a free education model in the country.

Basola while addressing a global press conference on free education at the school's premises in Akute area of Ogun State, expressed optimism that Nigeria has the capacity to adopt a free education model, but lacked the political will to make it a reality.

Expressing concerns over the 2024 budgetary allocation to the nation's educational sector which he said is less than the United Nations Educational Scientific and Cultural Organisations (UNESCO's) 20 per cent standard, Basola said the federal government and corporate organisations must come to the aid of the sector by increasing the financial commitments to the sector.

"If education is the key and passport to the future, we must increase the budgetary allocation to the sector by over 15 per cent, but what we see in the country is corporate organisations sponsoring talk shows that display nudity

with over N20 million, but gives the best graduating student of a school N100,000. To me, this is hypocritical," he said.

According to him, in Nigeria, about 10.5 million children of the country's children ages 5-14 years and about 58.4 million children of the world's 787 million children of primary school age do not go to school due to poverty.

"Hence, a need for a place like Kingston Nursery and Primary school, an absolutely free school here in Akute, Ogun State should be given the necessary support and encouragement to succeed," he said.

He pointed out that free education was introduced to Nigeria by Obafemi Awolowo in Western Nigeria in the year 1955, maintaining that it provided opportunities for all individuals regardless of their socioeconomic class.

"When the Universal Primary Education Scheme was introduced to the Western region in 1955, pupil enrolment in the primary schools soared from fee paying 446, 600 in 1954 to non-fee 811, 432 in 1955; an increase of over 90 per cent in one year. By 1961 primary school enrolment in the West had risen to 1,134,788 pupils, a significant turnaround in the figure of children in school," he added.

Nwabunwanne, acting on the order of Governor Chukwuma Soludo, had last week issued a letter suspending the traditional ruler of Neni Community, Igwe Damian Ezeani for conferring title on Ubah.

Nwabunwanne, in the letter, alleged that some traditional rulers were conferring titles on unscrupulous personalities, while also describing Ubah as unknown.

This has led to apologies by two other monarchs, who also conferred titles on Ubah.

Achebe, who was apparently angered by the way Ezeani was suspended by the state government, in a letter to the commissioner, accused the Soludo government of not having regard for monarchs.

Achebe wrote: "Your reference to a second-term Right Honorable Distinguished Senator of the Federal

Republic of Nigeria as "one Senator Ifeanyi Ubah" is most disrespectful, offensive, and unbecoming of one holding a political office as Commissioner.

"It is noteworthy that a person can only qualify to contest elections after scaling through the highest level of security checks at the federal level. Furthermore, Distinguished Senator Ubah holds a chieftaincy title of his hometown, Nnewi, conferred on him by his monarch and Grand Patron of the Anambra State Traditional Institution, His Majesty, lgwe Kenneth O. Orizu.

"He is also a well-known business investor in Anambra State and a generous philanthropist.

Thus, assuming that lgwe Neni did not strictly comply with Code of Conduct, would the foregoing factors not be sufficiently extenuating to warrant a far less sanction

on him as was meted to some other ‘tiny fen’ that also failed to comply?

"The severity of suspension and threat of withdrawal of Certificate of Recognition suggests that there may be other issues with either lgwe Neni or Distinguished Senator Ubah which are being stealthily ventilated in this circumstance."

He blamed the commissioner for mishandling the matter involving the conferment of chieftaincy title on Ubah, while accusing the Soludo government of having poor regard for traditional rulers in the state.

"I would like to state very clearly that your handling of this matter of conferment of honorary chieftaincy titles is the apogee of the progressive dehumanisation and dismantling of the traditional institution of Anambra State by the present administration,” he said.

“It is unfortunate that President Muhammadu Buhari, in 2015, campaigned and won the elections on three items: Security, Economy and Corruption (SEC). After his Eight years in office, the situation has worsened in all three areas.

“The present administration, on assuming office, promised to deal decisively with the same situation – Security, Economy and Corruption. Today, however, the situation is getting even worse than ever.

“At the Annual General Conference of the Nigerian Bar Association held in Lagos in August 2022, the then Vice Presidential Candidate, Sen Kashim Shettima categorically stated that if APC is elected, he as Vice President would be incharge of security, while the President as an expert in economy would handle the economy.

“Nigerians, therefore, now implore them to fulfil their campaign promises. Even if they do not achieve 100% results, we want to see 100% effort.

“It is now time to stop all forms of foreign trips from people in government, until we deal with the ugly situation facing us at home.

No foreign investor or partner will like to invest in Nigeria, with the situation we now find ourselves in.

“We must make sincere efforts to end the spread of violence and insecurity in our nation, in order to make any meaningful progress.”, the statement stated

Rivers Assembly Confirms 9 Commissioner Returnees Threatens to stop receiving correspondences from Fubara

Blessing Ibunge in Port Harcourt

The Rivers State House of Assembly has screened and confirmed the nine nominees presented to the House in consideration for commissioner positions.

The confirmed commissioner designates are: Zacchaeus Adangor, Dr Jacobson Nbina, Dr Gift Worlu, Mrs Inimefien Aguma, Chukwuemeka Woke, Prof Chinedu Mmom, Dr Dakorinama George -Kelly, Isaac Kamalu, and Mr Ben Chioma.

THISDAY recalls that the former commissioners who are loyal to the minister of the Federal Capital Territory (FCT), Nyesom Wike, had in November 2023 resigned from the Governor Siminalayi Fubara's cabinet, following a political

misunderstanding between the governor and FCT Minister.

However, the governor, in a letter addressed to the Speaker of the House and dated December 11, 2023, re-nominated the nine former commissioners as part of the resolutions reached at a peace meeting presided over by President Bola Tinubu.

During the screening yesterday, at the 92nd legislative sitting of the House, the Leader, Hon. Major Jack, who had requested that the nominees take a bow and leave, moved that they be confirmed.

All the 22 lawmakers who were in attendance at the sitting, however, voted in favour of the motion and the speaker subsequently directed the Clerk of the House to forward

the resolution on the confirmation of the nominees to the governor for further action.

Meanwhile, the lawmakers have threatened to stop receiving correspondences from Fubara, following their claim that the Government House staff always shows discourteous behaviour whenever a mail is sent to the governor from the Assembly.

The Speaker, Hon. Martin Amaewhule, who made the observation condemned in the recalcitrant behaviour of staff of Government House towards receiving mails emanating from the Rivers State House of Assembly.

Amaewhule warned that if such spite continues, the House will cease to receive correspondences from

the governor.

He added that resolutions of the House are religiously transmitted to the office of the governor, but staff of Government House often decline to receive such resolutions.

Amaewhule said: "We have resorted to courier services to send messages to the governor. The staff send communication from the governor to us, but refuse to take that of the house to the governor.

"At a point, the House will stop receiving communication from Government House. We will forward the resolution of this House on the Commissioners' screening and confirmation to the governor, but if they refuse, we will no longer take communications from the governor."

35

T H I S D AY • THURSDAY, JANUARY 18, 2024

NEWS

BCI seminar on Adapting to a Rapidly Changing Economic Environment...

L-R:: President, Business Club Ikeja (BCI), Chief Tajudeen Akande; Director General, Centre for the Promotion of Private Enterprise, Dr. Muda Yusuf and the former Chairman of Vitafoam PLC, Dr. Bamidele Makanjuola at the BCI seminar on Adapting to a Rapidly Changing Economic Environment, in Ikeja, Lagos State...recently.

Tinubu: Those Responsible for Ibadan Explosion Must Be Fished Out, Punished

Commiserates with Oyo govt, victims Directs security agencies to go after arsonists FEC sets up committee to review laws on explosives NEMA deploys emergency response team Abbas, govs, others express shock, sympathy Deji Elumoye, Adedayo Akinwale, Sunday Aborisade, Kuni Tyessi in Abuja and Yinka Kolawole in Osogbo President Bola Tinubu, yesterday, ordered security agencies that those responsible for the devastating explosion that occurred Tuesday night in Ibadan, the Oyo State capital, and claimed two, including several others that were injured, must be fished out.

The president, who expressed sadness over the development and sympathised with the affected as well as the Oyo State government, however, directed security agencies to go after arsonists and bring them in.

This was as the Federal Executive Council (FEC) has constituted a committee to review the laws guiding the control of explosives in the country.

At the same time, the National Emergency Management Agency (NEMA), has deployed its South West emergency response team to Ibadan, following a distress alert of an explosion at Bodija Government Reserve Area, (GRA), behind ace mall.

Conversely, Speaker of the House of Representatives, Hon. TJ Abbas, governors across the federation and stakeholders, have also sent in words to the Oyo government and victims of the explosion.

The explosion, which killed two persons and wounded about 80 others and also destroyed several buildings, vehicles, and other properties.

The President, in a release by his Media Adviser, Ajuri Ngelale, said, "It is worrisome that the cause of the blast is being attributed to the activities of illegal miners.

“Those behind the inexcusable and reckless behaviour that has created the conditions for the sad incident to occur must be fished out and punished."

Tinubu, therefore, called on all concerned agencies of government to unravel the circumstances that led to the tragedy with alacrity.

He also directed NEMA to work with Oyo State Government to offer

immediate and comprehensive relief to the victims.

But FEC, which has constituted a committee to review the laws guiding the control of explosives in the country, said the move was with the aim of determining whether the extant laws might have been violated by illegal miners in the Tuesday night explosion in Ibadan.

The council in its first meeting in 2024 presided over by Tinubu, expressed worries about the incident and expressed the need to avert future occurrence.

Minister of Defence, Abubakar Bagudu, who made this known to newsmen at the end of the FEC meeting, noted that despite preliminary investigations suggesting that explosives stored by illegal miners might be the cause.

He said there was also the suspicion in some quarters that gas might have also been the immediate cause of the explosion, adding that, federal agents were now on the ground at the scene of the incident to ascertain the cause and ways to prevent future occurrence.

Answering reporters questions on the issue, Bagudu said, “The first question has to do with Ibadan explosion, where the governor said preliminary investigation suggested that there were some explosives around the area, where it happened, owned by some illegal miners.

“Well, we have seen that report.

There is another report suggesting that it was a gas explosion. So, our team are there trying to find out what is the cause.

“But for the council to be proactive, it has already set up the committee to look into how the control of explosives law was broken if indeed there are explosives around the area where this incident happened.

“That was why the committee was set up to look at the rules to see where the chain is broken and see how it can be fixed and gather more information if this is happening rampantly around the country.

“You all know that there is strict rule in the storage, movement and ownership of these explosives and

the rule is being monitored. If there is any case of breakdown, we will find out and deal with it,” he insisted.

To this end, NEMA which has deployed its South West emergency response team to Ibadan, stated in a communique, that it was already working in partnership with other partner agencies to restore order, evacuate and assist victims.

“Casualty figures cannot be ascertained for now. Search and Rescue (SAR) is still ongoing. Stakeholders present include NPF, NSCDC, DSS, SEMA, Nigeria Army, Federal and State fire service, Nigerian Red Cross, State Ministry of Environment, Amotekun Corps.

“More resources are being mobilised to support the ongoing SAR Operations. Security has been beefed up in the area while arrangements for more support to facilitate the operations are in progress.”

Ibadan Explosion Unfortunate, Says Abbas Speaker of the House of Representatives, Hon. Abbas Tajudeen, has described as unfortunate, the explosion that rocked Ibadan, the Oyo State capital, on Tuesday night.

The Speaker, in a statement yesterday by his Special Adviser on Media and Publicity, Musa Krishi, lamented the fate of the victims.

He, therefore, called for proper investigation of the incident and possible arrest and prosecution of those suspected to have caused the explosion.

Abbas extended his condolences to the government and the people of Oyo State, while praying to God to comfort the victims and their families.

“The explosion in a peaceful and populated ancient city like Ibadan is terrifying. It is more worrisome that it happened at a time when the government is tackling various security issues and threats to lives and property.

“My heart goes out to the people of Ibadan, especially the victims and their families over their avoidable losses," he said.

Obaseki Feels Sorry for Makinde, Victims Edo State Governor, Mr. Godwin Obaseki, has commiserated with his Oyo State counterpart, Seyi Makinde and the people of Oyo State, over Tuesday night explosion in Ibadan.

In a statement, Obaseki prayed for the repose of the souls of the deceased and that God should grant affected families fortitude in their time of grief.

“Our prayers are with my brother, Governor Seyi Makinde of Oyo State, the good people of the state, and residents of Ibadan, the state capital, which was rocked by an explosion yesterday.

“As you intensify search and rescue efforts, we extend our heartfelt regrets to all who have suffered injuries, loss of lives and property.

“May God grant the souls of the departed peaceful rest and grant the families of the deceased fortitude in this time of grief,” he said.

Adeleke, Osun Speaker Express Sympathy Osun State Governor, Senator Ademola Adeleke, and the Speaker of Osun State House of Assembly, Hon. Adewale Egbedun, have commiserated with the Oyo State Governor, Seyi Makinde, the government and the people of Oyo State over the Ibadan explosion.

Adeleke, while describing the incident as sad and unfortunate in a condolence message by his Spokesperson, Mallam Olawale Rasheed, added that it was a big loss to Oyo and Nigeria in general.

“It is a really sad thing happening at the beginning of the year. This incident is not only sad and unfortunate but also a huge economic blow to many families in the affected area,” he said.

Adeleke thereafter commended security operatives and rescue workers, who have swung into action since the incident happened while calling for a thorough investigation

into the incident.

The speaker, on his part, while describing the explosion as most unfortunate, sympathised with those affected by the blast.

He, however, called for calm as the Oyo State government investigates the cause of the explosion and puts necessary measures in place to alleviate the impacts of the blast.

Abiodun: It’s Monumental Tragedy Ogun State Governor, Dapo Abiodun, has described Tuesday's explosion in Ibadan, Oyo State, as a monumental tragedy.

In a condolence message, Abiodun regretted that the wanton loss of lives and the destruction of properties was due to neglect and criminality.

He, however, praised the swift response of the Oyo State government, which promptly dispatched first responders to the scene, thereby saving more lives.

He also expressed absolute confidence that the state government would ensure that the perpetrators of the dastardly act were apprehended and prosecuted, saying the government was on top of the situation.

‘House Committed to Passing State Police Bill’ A member of the House of Representatives, representing Ibadan North West/South West of Oyo State, Hon. Stanley Olajide, has reiterated that the 10th House was committed to passing the State Police Bill to tackle the ravaging insecurity of the country.

Olajide, who is also the Chairman, House Committee on ICT, disclosed this at a press briefing yesterday in Abuja, while commiserating with Oyo State government and families of victims of the explosion that occurred on Tuesday night in Ibadan.

"Community policing is actually one of the very smartest ways to police your people. Somebody sees something, somebody knows something, they need to speak at

the right time.

"Failure to do so will cause situations like this. So, we are going to reopen that because remember, we've also been talking about State Police, we'll be talking about Community Police.

"So, I think you know a situation like this would actually present an urgency to the matter, so that way, we can get the right support that we need to pass whatever legislation that we need to to pass for this.”

NILDS DG Sympathises With Ilorin Fire Incident Victims The Director General, National Institute for Legislative and Democratic Studies (NILDS), Prof. Abubakar.

Sulaiman, has expressed grief over the fire outbreak at Edun area of Ilorin, Kwara State.

The fire incident occurred at Magaji Onikanhun compound, Edun Street, Ilorin, on Monday, and affected a total of 75 buildings and a mosque.

The spokesperson for the Kwara State Fire Service, Hassan Adekunle, who confirmed the incident said, 44 out of the 75 buildings were completely destroyed while 120 persons had been rendered homeless.

Sulaiman, in a press statement, described the incident as not only unfortunate but also saddening and quite worrisome and sympathised with the government and the people of the state over the incident.

The NILDS DG said he was painfully worried that many indigent people also lost their means of livelihood to the incidence, especially at this time of economic hardship, when low and middle income earners are finding it hard to make ends meet.

"I feel the pains of my people on this sad incident and I am with them in prayers to Allah for His divine intervention of comfort.

"As people of faith, we have a strong belief that God almighty has power over everything and would see the victims through this difficult and painful moment."

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THURSDAY, JANUARY 18, 2024 • T H I S D AY

NEWS

NBA-YLF National Summit 2024...

L-R: The President of the Nigerian Bar Association, (NBA), Mr. Yakubu Chonoko Maikyau, OON, SAN; and the Minister of Interior, Hon. Dr. Olubunmi Tunji-Ojo, during the NBA-YLF National Summit 2024 in Abuja …. yesterday

Agbakoba: Nigeria's Unity Not Sacrosanct Declares N’Assembly has power to enact new constitution Calls for break-up of mafia in S’Court Says this current apex court is the worst he’s seen in 45 years Wale Igbintade A former President of the Nigerian Bar Association (NBA), Olisa Agbakoba, SAN, has said it was wrong to assume that Nigeria’s component units would like to stay together, saying the nation’s unity was not sacrosanct.

Agbakoba, who advocated a massive legislation and executive action, if President Tinubu wanted to achieve his ambitious goal to grow Nigeria’s GDP to $1 trillion in 7 years, said the National Assembly had the power to enact a new constitution.

The human rights activist and lawyer, who further called forthe break-up of what he described as mafia in the nation’s Supreme

Court, said the current apex court as constituted is the worst he has seen in his 45 years of practice.

According to Agbakoba, in a political arrangement such as Nigeria, it would be a terribly wrong assumption that the components units in the country would like to stay together, and that the question Nigerians must ask themselves included, “Do we want to be one? If the answer yes, How do will do so."

He noted that Nigerians had not actually sat down to ask that question that Bola Ige asked long ago, which was, “Do we really want to be one country? Therefore, when that question is answered in the positive, then the second question will be: what kind of country do

we want?”

"It's not sacrosanct that we must be one country. If in being one country, you have all the killings you have.

In Jos, in Abuja, everywhere. What's the point of being one country?

"So, governance is like someone, who wants to build a 10-story, 12-story building. He will call an architect, and the architect will see a bungalow and advise the developer that I can't put a structure on the bungalow.

“I need to have a new foundation.

So, governance is about a foundation. And as I said at that lecture, a country that has been struggling with a foundation for 23 years cannot be a serious country.

"I can't build this house. I can't build Nigeria on the basis of a weak

government structure. It is the most important and fundamental process if you want the country to grow.

So,Nigeria's government structure is very weak. And I'll give about 10 examples of why this is so.

"If you have a wife fighting, you cannot have peace. And you cannot think about how to develop. So, if today somebody is blowing up somebody's head in Abuja, tomorrow it's in everywhere you go. And as I said at that lecture, we can learn lessons from history. Europe went through this process.”

The renowned constitutional lawyer maintained that Nigeria’s Governance structures were weak and needed to be strengthened through critical laws and policies.

He, therefore, urged the National

Wike: We Must Stop Paying Ransom to Kidnappers, Bandits a determined spirit that I proudly announce the inauguration of the Special Intervention Squad (SIS)."

Egbetokun said the intervention squad was "conceived as an elite unit of the Nigeria Police Force. The SIS composed of specially trained, well-equipped and highly mobile police officers, and possesses the capacity for rapid intervention and effective containment of significant security breaches, such as those currently threatening the suburb of the FCT and creating panic generally.

"This initiative is not just born out of necessity, but out of foresight, diligent planning and commitment to enhancing the already robust security architecture of our nation’s capital."

He explained that SIS stood as a testament to the rejection of criminality in all forms.

Egbetokun stated, "It is a declaration of our commitment to reclaiming our streets, neighbourhoods, and cities from the clutches of lawlessness.

“We are mobilising the entirety of our resources, both human and technological, to ensure the triumph of justice and to provide our citizens the liberty to live without fear for their own safety and that of their loved ones."

He said the squad was "envisioned to include a thousand personnel in each state, the SIS is launched today with officers and men from each tactical unit of the force, supplemented by a

formidable arsenal of operational assets, including sophisticated arms, drones, and vehicles.

"These assets, some of which are displayed here, are ready for deployment to counteract the security threats. This deployment symbolises our unwavering commitment to the safety and security of our people, sending a clear message that criminal elements will find no sanctuary within the FCT, and by extension, Nigeria."

The IGP further assured that the intervention was not symbolic.

He said, "To all citizens of Nigeria, we assure you that this operation is not a mere symbolic act. It is a tangible demonstration of our dedication to your security. We recognise the suffering endured by victims of violent crimes and the anxiety pervading our communities.

"This operation is intended to bring a swift and decisive end to this era of terror. It should also be noted that we are collaborating with the military and other security agencies in ensuring the success and we are confident that with your support, we will be successful.

"As we inaugurate the Special Intervention Squad (SIS) today in the FCT, let us unite against the forces threatening the very fabric of our society.

"May this operation serve as a beacon of hope as we collectively strive to make the FCT, its environs, and, ultimately, the entire nation, safer for all. May justice be swift, and may peace permeate the entire

landscape of Nigeria."

FCTA to Compile List of Illegal Settlements, Shanties in Abuja The Department of Development Control of FCT Administration has begun to compile a list of all shanties and informal settlements for verification purpose.

Director of the Department of Development Control, Mukhtar Galadima, disclosed this during the removal of illegal shanties and shops at Durumi.

Galadima said the move was aimed at identifying and addressing the issue of illegal shanties and informal settlements that could harbour criminal activities.

He added that the plan was also part of the administration's broader strategy to enhance security and orderly development within the FCT. Galadima stated, "Looking at the rising insecurity in FCT, we were mandated to clear all shanties and squatter settlements in the Federal Capital Territory. So, this is in line with the directive given by the FCT Administration.

"The exercise is not limited to the city centre, we are going beyond the city centre. But we have a line of direction, that is why we are starting from the city centre outward.

"Where we are clearing now is the continuation of Moshood

Abiola Way, which starts from the International Conference Centre, runs through Area 10, Area 2, down to Durumi, going to Games Village.

You can see this is a road stretch known as Festival Road then."

Meanwhile, Secretary, Command and Control, FCTA Department of Security Service, Dr Peter Olumuji, described Durumi as a particularly notorious spot, where people arbitrarily build on road corridors because of the belief that the authorities could not have a definite address to track them down.

Olumuji stated, "So, that is why we are here, as we are clearing it, we are removing the vices within this environment because most of these boys here around in the night time they become something else to those who ply this road and even under Area 1 bridge. This is a holistic clearance we are also doing in curbing crime.”

On the sale of drugs, Olumuji said the National Drug Law Enforcement Agency (NDLEA) and the task team had been going round and some substances, suspected to be Indian hemp, had been confiscated.

Olumuji said, "That is part of the devices we are talking about because here, people have access to any type of drugs and what we are also doing, like I said, is holistic.

Definitely, as we clear them, they will have no way to stay around and they will just have to leave this environment."

Assembly to adopt the recommendation of the late Constitutional lawyer, ProfessorBen Nwabueze and invoke section 41 and section 44 of the Constitution and give the nation a new constitution that would be embraced by all.

"All the National Assembly needs to do is detach the schedule from the Act and replace it with the new Constitution. The matter resolved rather than every new Assembly discussing the same issue because we can’t make economic and political progress if we have a discussion that’s lasting 23 years."

According to him, the Tinubu administration has a unique opportunity to articulate and drive an uncommon agenda for development, adding that the president needed to be specific, and time-bound in his implementation plan otherwise it would be all talk and no progress.

Agbakoba, who noted that the National Assembly was in the best position to work on it, urged the 10th Assembly to immediately address the problem of the survival of Nigeria.

He further stated that Nigeria could not resolve her insecurity problems by military solution.

His words: "Quote me. If we continue on this path to deploy the military, deploy resources, and I don't even know how much has been spent by the military in acquiring armaments, we can't win.

It's a mistake. We cannot resolve our problem by military solution.

It will not happen.

"You know that the Americans did all they could, bombing Cambodia, Vietnam, but they lost. The world's most powerful country was beaten by a ragtag Viet army. Why? Because the Viet fought an irregular war.

"So, military option will not give Nigeria peace. That you can take from me. If it happens in two years' time, I'll give you a free lunch. So the first thing we must do is to find a way to resolve our crisis."

The former NBA President also called for the involvement of traditional rulers in the draft of a new constitution, adding that they were the people that would shift Nigeria and give the country the political peace for development.

The legal icon, however, lamented that in his 45 years at the Bar, the nation's judiciary had never been as low as this.

He urged the National Assembly to break up what he called 'the mafia in the Supreme Court by legislating

that appointment to the Supreme Court could come from the Bench, the Bar and the academia.

He said, "I think we have, what do you call legal failure. Many of you would realise that nothing works in this country. I mean, look at what happened in the elections.

The judiciary has, in my 45 years, never been as low as this.

“Even the Supreme Court, Justice John Okoro, castigated the Appeal Court for a terrible judgment where they removed virtually everybody in the Plateau political system.

“All the law and all the constitution say is once you are 15 years, you’re qualified but the National Judicial Council and the Supreme Court judges have formed a mafia so that others don’t get there.

“This Supreme Court is, with the greatest respect, the worst Supreme Court I have seen in my 45 years of practice. It has to change and that is a challenge for the National Assembly is to enact a law that deals with judicial Administration.

"We can't grow if we have a weak judiciary. And therefore, the only way to grow is to break up this mafia in the Supreme Court. It's like saying, you know what, no woman in Nigeria shall be entitled to political office.

“That's what they have done to us in the judiciary. No lawyer is entitled to attain to the Supreme Court. It's only them. They created a mafia, blocked us out, and appoint themselves. Incestuous relationship.

So, they can't be their best.

"So, I recommended to the National Assembly to understand the difference between administration of justice. That's where judges take notes and write. Versus judicial administration. In respect to judicial administration, the National Assembly can intervene.

“There's the Federal High Court Act, which sets out how judges should come to the court, how they should be composed. The only thing the Constitution says is you must be 15 years to be a Supreme Court judge. Nothing else.”

He stated that there should be a law governing the process of appointments of senior judges, adding that, “We can’t leave it to the National Judicial Council.”

He also recommended the unbundling of INEC, and urged the 10th National Assembly to enact the recommendations of the Uwais Panel.

thursday JANUARY 18, 2024 • T H i s d ay

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NEWS

HONOURING NBA LEGENDS…

L-R: Vice President, National Basketball Association(NBA),Africa, Gbemisola Abudu ; Two times NBA Winner and member, President Joe Biden ‘s Africa Diaspora Council, Chinenye Ogwumike; Minister of Sports, Mr. John Enoh; NBA legend and Basketball Hall of famer, Lisa Leslie, and Chief Executive Officer, Nigerians in Diaspora Commission(NiDCOM), Abike Dabiri-Erewa at the reception held in honour of Leslie and Ogwumike in Abuja…recently

NSCDCtoSustain Collaboration with SecurityAgencies to FightOilTheft Sylvester Idowu in Warri

The Nigerian security and Civil Defence Corps (NSCDC) has promised to sustain the partnership with sister security agencies and private security outfits to combat oil theft in the country.

The Commandant of NSCDC, Delta State Command, Suleimon Jimoh,

gave the assurance yesterday shortly after he inspected the impounded MT KALI vessel in Oporoza, Warri South West Local Government Area of the state.

Flanked by some senior officers of the Command, Jimoh expressed delight at the feat, and urged his men to sustain the tempo geared toward eradicating oil theft in

Amotekun Arrests 19 Suspected Kidnappers in Ondo

Fidelis David in Akure

Operatives of the Western Nigeria Security Network (WNSN) codenamed Amotekun have arrested 19 suspected kidnappers terrorising Ondo State.

The state Commander of the agency, Mr. Adetunji Adeleye, while parading the suspects alongside 17 others at the corps headquarters in Akure yesterday, said in the last one month, there were three kidnap attempts in the state but Amotekun was able to foil them successfully.

Specifically, Adeleye said out of the 19 suspected kidnappers, 17 were arrested from a particular

area that is prone to attack in the northern senatorial district of the state, while the remaining suspects were arrested for various alleged offences ranging from armed robbery, unlawful possession of firearms to theft and others.

According to him, “Today, we are parading 36 suspects. In the last one month, there were three kidnap attempts that we were able to foil successfully, which means, in the last one month, there has been no successful kidnapping in Ondo State.

Today, a cross section of these criminals are different from what we use to have.”

Edugate: Groups Allege Plot against Gbajabiamila Juliet Akoje inAbuja and Ibrahim Oyewale inLokoja

The Northern Ethnic Youth Group Assembly (NEYGA) has alleged that interests within and outside the presidential villa are scheming to take over the job of the Chief of Staff to the President, Mr. Femi Gbajabiamila, by linking the former Speaker of the House of Representatives to the transactions carried out by the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu. According to a statement signed by the spokesperson of the group, Mr. Ibrahim Dan-Musa,

“Distractors have failed in their plot against the engine room of Tinubu administration.”

It was learnt that memos have continued to leak from the Humanitarian Affairs Ministry and its agencies, following the suspension of Edu, who is being investigated by the Economic and Financial Crimes Commission (EFCC).

Also, another group, Concern Citizen for Good Governance (CCGG), yesterday raised the alarm that those behind the attack against Gbajabiamila are orchestrating a deliberate attempt to pull down the president.

Umuahia Gets First Private Varsity

Emmanuel Ugwu-Nwogo in Umuahia

After 32 years of existence as the capital city of Abia State, Umuahia, has at last got a private university, as Lux Mundi University prepares to commence academic activities in the 2024/2025 academic session.

The Abia State capital city hosts a campus of the state-owned university, ABSU, and while a number of private universities exist in other parts of the state, none of the private investors sited their institutions in Umuahia.

But the founder of Lux Mundi,

Professor Gabriel Okenwa, said that he has brought a private university to Umuahia because he owed it a duty to give back to his land of birth.

Okenwa said: “This land raised me to what I am today. I have to honour this land by siting this university here.”

He outlined the vision and mission of the university yesterday during the unveiling of the principal officers and management of the institution at the take-off campus, New Ndagbo City, Isiama Afaraukwu Ibeku, Umuahia.

the country.

MT KALI vessel was arrested in a joint operation by personnel of the Tantita

Security Services Limited (TSSNL) and that of NSCDC last Thursday at Pennington Oil Field in Bayelsa State.

The vessel laden with about 119 metric tons of stolen crude oil, was consequently nabbed alongside 23 suspects, excluding

one that allegedly jumped into the sea, and moved to Oporoza for anchorage while investigation continues.

Police Apprehend 37 Suspects, Seize Weapons in Lagos

Sunday Ehigiator

In a decisive move against criminal activities in Lagos State, the state Police Commissioner, Adegoke Fayoade, said the state Police Command has successfully apprehended 37 suspects involved in crimes

ranging from armed robbery and stealing to cultism and unlawful possession of firearms.

In a statement issued and signed by the state Commissioner of Police, Fayoade, it revealed that the outcome of these operations did not only result in the removal

of these individuals engaging in criminal activities but also led to the recovery of a significant cache of weapons.

He said: “In total, 16 firearms, including an alarming toy pistol, 72 live cartridges, and 75 live ammunition were confiscated by law enforcement

agents.

“The diversity of weapons seized highlights the seriousness of the criminal activities disrupted by the police. The recovered items also include various weapons and tools that could have been used to perpetrate further crimes.”

Traders Condemn Soludo for Destruction of Goods in Awka David-Chyddy Eleke in Awka

The destruction of goods belongings to petty traders on Tuesday in Awka, Anambra State’s capital, has attracted the condemnation in Anambra State.

THISDAY learnt that there was massive destruction of

traders’ wares on Oby Okoli and Abakiliki Streets by officials of Awka Capital Territory Development Agency (ACTDA).

The agency got rid of traders and other hawkers who maintain shanties in the area to enable the ongoing dualisation of the streets to move on.

The exercise was supervised

by the Managing Director of ACTDA, Mr. Ossy Onuko.

A victim, Ms. Ukamaka Eze, who provided video evidence of the destruction of her wares said: “Unlike other times when they used to confiscate people’s goods, but today they confiscated and immediately set them ablaze.

“I think Soludo is heartless if he actually sent those people. We are complaining of hardship and how we can survive, and here, they are burning our goods.

This is unfair.”

Another trader in the area who simply identified himself as Ejimofor, said: “They have been shooting guns here.

By-elections: INECInformation Publishes Final List, Personal Particulars of Candidates and Voter Education candidates was also published federal constituency of Lagos Adedayo Akinwale in Abuja

The Independent National Electoral Commission (INEC) has published personal particulars and final list of candidates ahead of the by-elections scheduled to hold on February 3.

The INEC National Commissioner and Chairman,

Committee, Sam Olumekun, in a statement issued yesterday said the list and particulars of the candidates have also been published in its state offices and the affected constituencies pursuant to the provision of Section 29(3) of the Electoral Act, 2022.

He added that the list of

on INEC website and social media platforms.

The elections would be held on February 3 across nine states of the federation covering two senatorial districts (Ebonyi South and Yobe East); four federal constituencies (Shanga/Ngaski/ Yauri Kebbi State); Surulere I

State; Akoko North East/Akoko North West federal constituency of Ondo State; Jalingo/Yorro/Zing federal constituency of Taraba State; three state constituencies (Guma I state constituency of Benue State; Chibok state constituency of Borno State, and Chikun state constituency of Kaduna State.

Gombe to Partner NigComSat for Technological Advancement

Segun AwofadejiinGombe

The Governor of Gombe State, Mr. Muhammadu Inuwa Yahaya, yesterday received in audience the management team of the Nigeria Satellite Limited (NigComSat) at the Gombe Governor’s lodge in Abuja.

The delegation was led by the Managing Director and Chief Executive Officer, Mrs. Jane Nkechi Egerton-Idehen.

During the audience, Governor Inuwa expressed commitment to promoting a strong partnership with NigComSat to harness the transformative power of technology

to enhance brighter and digitally advanced future for the state and its socio-economic prospects.

He emphasised the critical role of technology as the driving force behind economic development, stating that Gombe State is now better positioned than ever to harness the potential of reliable

internet services provided by NigComSat. Believing that technology serves as the engine of every economy, Governor Inuwa hoped that a strategic alliance with NigComSat would stimulate innovation and various advancements within the technology industry.

‘Free Education Can Reduce Nigeria’s 10.5m Out-of-School Children by 90%’ Gilbert Ekugbe

The Founder of Kingston Nursery and Primary School, Reverend Victor Basola, yesterday stated that Nigeria could reduce the 10.5 million out-of-school children by 90 per cent if managers of the economy would adopt a free education model in the country.

Basola, who addressed a global press conference on free education at the school’s premises in Akute, Ogun State, expressed optimism that Nigeria has the capacity to adopt a free education model, but lacked the political will to make it a reality.

Expressing concerns over the 2024 budgetary allocation to the

nation’s educational sector, which is less than the United Nations Educational Scientific and Cultural Organisations (UNESCO’s) 20 per cent standard, Basola said that the federal government and corporate organisations must come to the aid of the sector by increasing the financial commitments to the sector.

He said: “If education is the

key and passport to the future, we must increase the budgetary allocation to the sector by over 15 per cent, but what we see in the country is corporate organisations sponsoring talk shows that displays nudity with over N20 million, but gives the best graduating student of a school N100,000. To me, this is hypocritical.”

Benue Releases Special Phone Contact Numbers to Curb Insecurity

GeorgeOkoh inMakurdi

Following the upsurge in kidnapping and herdsmen attack in the country, the Benue State Government has released phone numbers to the public to give information to the office of the Special Adviser to the Governor on Security, if such cases occurred.

The phone numbers were released by the Special Adviser to the Governor on Security and Strategic Liaison, Col Alexander Igbaya Ashungu (rtd) in Makurdi.

He said the state has zero tolerance for crime, and called on the public to report any incident for “Investigation

and further actions.

“Any member of the public who suspects any false movement, gathering and none authorised persons bearing arms, particularly in our rural forest, should report through any of the following numbers for investigation and further actions.”

He added that the state government has been working round the clock to ensure the state is safe for inhabitants and businesses.

“As we speak, a number of kidnapped victims have been rescued, and we are going after those perpetrating such crimes in the state,” Ashungu said.

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Chief Justice of Nigeria, Olukayode Ariwoola

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Africa Gaming Expo, Other Events that will Shape 2024 From important conferences and exhibitions to landmark judiciary pronouncements and educational sessions, this is going to be a busy year for the gaming industry, writes Nseobong Okon-Ekong

A

Africa Gaming Expo rguably, the most anticipated event in the gaming industry in Nigeria for 2024 is the impending Africa Gaming Expo, which is being organised for the Lagos State Lottery and Gaming Authority

by Africa Gaming Expo Limited.

Advertised as the largest gathering of gaming stakeholders in Africa,

it is billed to be held at the Eko Convention Centre, Eko Hotel and Suites between March 12 and 15. In its concept and planning, AGE Lagos is the most ambitious function yet, spanning all four days and drawing participants from key countries where significant gaming activities are taking place.

Industry insiders eagerly look forward to the critical role AGE

Lagos can play as a first-of-its-kind platform for bringing together all interlocking units in the gaming environment for the exchange of information. The pacesetting Governor Babajide Sanwo-Olu, whose key role as chief host and keynote speaker will set the tone for the discourse, which centres on ‘Exploring the Future of the Africa Gaming Market: Emerging Trends, Prospects and Opportunities’.

Supreme Court Begins Hearing on Control of Lottery Sector Incidentally, the Supreme Court has fixed March 13, 2024, to hear a suit filed in 2008 by the attorney general of Lagos against the federal government regarding who controls and regulates the gaming and lottery sector, even as the momentous Africa Gaming Expo is taking place in Lagos.

There might be a long time before the case that began 16 years ago is concluded. The Attorney General of the Federation is the first defendant, while the National Assembly is the second defendant. The attorneys general of 34 states were joined as defendants by the Supreme Court on November 15, 2022.

Bode Olanipekun represents the Lagos government, Innocent Daa’gba represents the federal

1XBet Scores Big with Win-win AFCON Sponsorship Davidson Abraham opines that through its diverse platform and marketing channels, 1XBet, sponsor of the ongoing Africa Cup of Nations, can introduce the tournament and its excitement to new markets, potentially attracting fresh interest and investment in African football The roar of the crowd, the clash of boots, the electrifying atmosphere – the Africa Cup of Nations (AFCON) is in full swing, and this year, one name is echoing alongside the cheers: 1XBet. As an official sponsor of the prestigious tournament currently captivating Ivory Coast, the international betting giant has seized an opportunity to solidify its brand in the heart of African football. But this partnership isn’t just about logo placement and jersey branding; it’s a strategic move that benefits both parties in significant ways.

AFCON is a continental spectacle watched by millions across Africa and beyond. 1XBet’s logo adorns stadiums, hoardings, and official broadcasts, putting it front and centre for passionate football fans. This widespread visibility translates to brand recognition and potential new customers – a significant boost for a company aiming to expand its reach in the African market.

Sponsoring AFCON allows 1XBet to tap into the deep-rooted

passion for the sport across the continent. By aligning itself with the pinnacle of African football, 1XBet builds positive brand associations with excitement, dedication, and

cultural pride. This emotional connection can foster loyalty and trust among potential customers.

AFCON presents a prime opportunity for 1XBet to leverage its digital prowess.

Through social media activations, online contests, and interactive platforms, the sponsor can directly engage with fans and potential customers.

This digital engagement builds hype, drives traffic to 1XBet’s platforms, and strengthens the brand’s connection with a tech-savvy audience.

For AFCON Sponsorships like 1XBet inject much-needed revenue into the

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tournament, supporting its organization, infrastructure, and prize money. This financial backing ensures a smoother and more prestigious event, ultimately benefiting players, fans, and the development of African football.

1XBet’s international presence brings AFCON to a wider audience beyond Africa. Through its diverse platform and marketing channels, the sponsor can introduce the tournament and its excitement to new markets, potentially attracting fresh interest and investment in African football.

1XBet’s expertise in online betting and digital engagement can contribute to the technological advancement of AFCON. This could involve implementing innovative fan engagement tools, exploring live streaming opportunities, or creating interactive platforms to enhance the overall experience for viewers.

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While 1XBet leverages the tournament’s visibility to strengthen its brand, AFCON gains financial support and global exposure. Ultimately, this collaboration furthers the development of African football and brings the beautiful game closer to fans across the continent and beyond. As the final whistle blows on AFCON, one thing is clear: both 1XBet and the tournament have scored a winning goal with this strategic partnership.

government, and Ifeanyi Mrialike represents the National Assembly.

The attorneys general of the 33 states are duly represented. The apex court had advised that all the state governments on one side, in accordance with their respective interests, should present a common argument to save the court’s time on the hearing date.

Explaining his position, Daagba said he had filed processes and submissions to the federal government since 2020 to pave the way for a hearing of the matter.

On August 15, 2022, the federal government (through the Nigerian Lottery Regulation Commission and the Nigerian Lottery Trust Fund) won the case against Lagos and other states on the issue of multiple regulations in the gaming sector.

The Association of Nigeria Bookmakers had initiated the lawsuit to determine the legitimate regulators of gaming businesses because they complained about multiple taxes and licensing fees paid to states and the federal government.

In suit No FHC/L/CS/15992020, filed before Justice I.N Oweibo of the Lagos High Court, the judge ruled that the Federal Government should be the sole regulator of the gaming business, citing the Constitution as putting lottery in the exclusive list. The judge said only the National Assembly can legislate on lottery matters.

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

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T H I S D AY • THURSDAY, JANUARY 18, 2024

THURSdaysports

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

0811 181 3083 SMS ONLY

Peseiro: Côte d’Ivoire’s Elephants Will Fall Under Intense Eagles Firepower

Femi Solaja Nigeria will clash with hosts Côte d’Ivoire clash in one of the most anticipated matches of the 34th Africa Cup of Nations today, in a 60,000-capacity Stade Olympique Alassane Ouattara in Ebimpe, outside Abidjan today.

Both teams played their first games of the tournament with differing

fortunes at the same venue few days ago. All AFCON 2023 matches will air on Sports Premium, channel 252 or 246, on StarTimes as well as on StarTimes-ON app.

The Elephants celebrated a 2-0 win over Guinea Bissau’s Wild Dogs on the opening day of the tournament, while the Eagles forced Equatorial Guinea’s Thunderto a 1-1 draw 24 hours later.

It has been 40 years since Cote d’Ivoire last hosted African football’s flagship championship. That year, a youthful Nigerian team prevailed over Cup holders Ghana and drew with Malawi and Algeria to reach the semi-finals of an eight-nation competition, before coming from behind to draw 2-2 with Egypt’s Pharaohs and then emerge victorious on penalties in Bouake. They lost

the Final 1-3 to Cameroon. Today, the AFCON is a 24-nation final tournament.

There was no Nigeria vs Cote d’Ivoire clash in 1984, with the Elephants given the heave-ho in the group stages, but Cote d’Ivoire has been an ever-present in all AFCON competitions in which Nigeria has emerged champions.

The two countries clashed in 1980

(also the second match of the group phase as will be today’s encounter), in 1994 (semi-finals) and in 2013, when Cote d’Ivoire’s golden generation shockingly fell to the Super Eagles in an epic quarter-final in Rustenburg.

Nigeria’s goal against Thundercame from the head of Africa Player of the Year, Victor Osimhen, who made his account 21 goals in 28 matches for homeland at senior level, and the Eagles will still set much store by him as they hunt for three crucial points against the two-time champions.

Osimhen was top scorer in qualifying with 10 goals, and is expected to be eager to add to his one goal at the AFCON, having only played a cameo role in 2019 and then missed outright the 2021 finals in Cameroon.

On the two previous occasions that Nigeria arrived at the Africa Cup of Nations with the Africa Player of the Year (1994 and 2000; Rashidi Yekini and Nwankwo Knau respectively), they made it all the

way to the Final, winning one and losing the latter on penalties.

At yesterday’s pre-match conference in Abidjan, Coach José Peseiro disclosed that hard-as-nail midfielder, Alhassan Yusuf, who impressed against Thunder on Sunday, is out of reckoning due to injury he copped in the encounter. “Yusuf is out of the game tomorrow. He is fine but not ready for today’s match. He will be ready for the last group match.”

Peseiro stated further: “We have what it takes to win the game tomorrow and there’s nothing to change in my team because we created a lot of goalscoring opportunities in our game against Equatorial Guinea and we hope to utilise the opportunities this time and score goals.”

Captain Max Alain Gradel, who has 105 caps and was part of the Elephants’s squad that won the trophy in Equatorial Guinea in 2015, said: “We are Côte d’Ivoire.

We respect all our opponents. But we fear nobody. We will do what we have to do.”

...Sports Minister Charges Eagles to Win Against Ivorian Elephants AFCON RESULTS Morocco 3-0 Tanzania DR Congo 1-1 Zambia

Today E'Guinea v G'Bissau C'd'voire v Nigeria Egypt v Ghana

Super Eagles forward, Sadiq Umar (left) came on for his Spanish LaLiga side, Real Sociedad from the bench but yet was dropped from the Nigerian camp at the ongoing AFCON 2023 Abidjan

Elephants Clash with Super Eagles in Crucial AFCON Encounter LIVE on StarTimes The air crackles with anticipation in Côte d’Ivoire as two African football giants, Nigeria and the host nation, lock horns in a must-win clash today in the ongoing 2023 Africa Cup of Nations (AFCON).

Both teams hold fond memories of their 2013 AFCON quarter-final encounter, where the Super Eagles soared to victory over the Les Elephants. But Thursday's

showdown holds a different kind of allure – a place in the knockout stages. The match will air on Sports Premium, channel 252 or 246, on StarTimes as well as on StarTimes-ON mobile app.

Nigeria, who stumbled to a 1-1 draw against Equatorial Guinea in their opening match, desperately need a win to reignite their title aspirations. The Equatoria

Guineans, meanwhile, will look to build on their surprise result and upset the apple cart again against Guinea-Bissau at 3:00 PM, also on the Sports Premium channel.

Côte d’Ivoire, buoyed by a comfortable 2-0 victory over Guinea-Bissau, enter the match as slight favourites. However, the pressure of playing on home turf and memories of that 2013 defeat

Olympian Adegoke, Ojeli, Adeyemi to Headline Dynamic Athletics Outdoor Meet 2024 Tokyo Olympics 100m finalist, Enoch Adegoke, tops the list of elite athletes who have registered for the Dynamic Athletics Outdoor Meet 2024 scheduled to hold January 27, 2024 at the Nigerian Navy Sports Complex in Ojo, Lagos.

Adegoke made history in 2021 as the first Nigerian man in 25 years to run in the final of the 100m event at the Olympics after Davidson Ezinwa in 1996.

The 22 year old will be seeking to repeat the roller coaster ride he had in 2021 when he became the first wholly home-based male athlete in recent memory to qualify for the Olympics in the sprint event.

Adegoke started his 2021 fairytale run with a 10.16 world leading run (at the time) achieved at the AFN All-Comers meet in Akure at the

end of January.

That set the tone for his incredible run which fetched him a 100m gold at the National Sports Festival in Edo state and the Nigerian championship title in Lagos, running a then second fastest winning time of 10.00 seconds after Deji Aliu who ran 9.98 to win in 2003.

The 2019 African U20 100m champion will be hoping to start his 2024 season in like manner and the Dynamic Athletics Outdoor Meet is giving him the platform to do just that.

Also confirmed for the meet is another Olympian, Ifeanyi Ojeli and African Games relay medalist, Sikiru Adeyemi.

Reigning Nigeria 100m queen, Blessing Ogundiran has also registered for the first athletics meet

in Nigeria in 2024 approved by World Athletics.

Also set to be at the Nigerian Navy Sports Complex is veteran quartermiler, Patience Okon George who will be seeking to make her third appearance at the Olympics.

Meanwhile, the meet has received endorsement from a number of former Nigeria internationals and reputable coaches and sports administrators.

Nigeria 100m record holder, Olusoji Fasuba, long jump record holder, Yusuf Ali, and veteran coach, Chief Tony Osheku are among those who have backed the meet.

Others include Athletics Federation of Nigeria Performance Director, Victor Okorie and 2010 Commonwealth Games 100 finalist, Peter Emelieze.

hang heavy in the air.

Elsewhere in Group A, Equatorial Guinea and Guinea-Bissau will battle it out in a bid to salvage their dwindling hopes of progressing.

This match promises intriguing tactical tussles and desperate dives for glory.

Meanwhile, Group B boasts another heavyweight clash, with seven-time champions Egypt taking on Ghana at 9:00 PM. Both teams stumbled in their opening matches, with Egypt drawing with Mozambique and Ghana losing to Cape Verde.

A win for either would reignite their campaign and throw the group wide open. The game will air on the Sports Premium and Sports Life channels at 9pm on StarTimes.

Adding to the AFCON excitement, StarTimes has partnered with leading fintech platform PalmPay to launch the "AFCON Football Fiesta" campaign. This month-long celebration will shower football fans with prizes and rewards, keeping the AFCON spirit alive throughout the tournament.

Every day during the AFCON, one lucky StarTimes customer who uses the PalmPay app to subscribe will win a free one-month subscription. But that's not all!

Numerous coupons and bonuses await customers who renew their subscriptions via the app, making AFCON 2024 even more thrilling.

The Minister of Sports Development, Senator John Owan Enoh, has issued a rallying call to the Super Eagles of Nigeria as they prepare for a crucial clash against Côte d’Ivoire in their second Group A game at the Africa Cup of Nations in Ebimpe, Abidjan.

The Minister charged the team to make amends for Sunday's 1-1 draw with Equatorial Guinea by securing a victory against their host.

"Thursday's game gives us an opportunity to make a statement, by going ahead to feast on the Elephants in their backyard. I am urging the Super Eagles to remain resolute, as we will be playing against 11 players on the pitch, the home fans, and even the weather," Enoh said. "We must be mentally superior for the entire duration of the game, as we need to secure a victory to boost our chances of advancing to the next round."

"The Government and people of Nigeria are behind our beloved Super Eagles and have always been a source of pride for our nation.

I call upon each player to give their best on the field and make a lasting impression. Winning the second game against Côte d’Ivoire is not just a victory for the team but a statement of our football prowess on the continent."

Senator Enoh referenced the 2013 victory en route Nigeria's march to winning the AFCON in South Africa. He said Nigeria defeated the Ivorians when no one gave them a chance against a star-studded Ivorian team.

"We held our own down that night in South Africa, playing against the golden generation of ivorian football to claim a sweet 2-1 victory in the quarterfinal. If we did it ten years ago, then let's do it again!"

The Minister also extended his best wishes to the coaching staff, support personnel, and the entire Nigerian football community. He encouraged fans to rally behind the Super Eagles and create an atmosphere of unwavering support.

Ghana's Hughton Focused on Egypt after Fan Confrontation Head Coach of Ghana’s senior national team, Chris Hughton, insisted yesterday his focus was entirely on the Black Stars' crucial Africa Cup of Nations clash with record seven-time champions Egypt following a confrontation with an angry supporter at the team's hotel in Abidjan.

The incident happened following Ghana's shock 2-1 loss to Cape Verde in their opening match in Côte d’Ivoire, a result which already leaves them facing an uphill struggle just to reach the last 16.

A Ghana team official said to AFP that Hughton was not attacked, but confirmed that an "aggrieved and disappointed" fan had approached the coach and "told him to either improve or leave the job".

"I very much appreciate the levels of support that I have had but in the press conference here we are looking forward to the next game, so that is something that is

very much in the past," Hughton told reporters.

"It has had a lot of media coverage and I am thankful for the messages of support, but today is a day to look forward to a very competitive game we have tomorrow."

A second straight defeat in Group B would leave Ghana staring at the prospect of being eliminated in the first round, just as they were at the last AFCON 2021 in Cameroon.

The Black Stars have been African champions four times, but the last of those titles came in 1982.

Hughton's team came to Côte d’Ivoire off the back of a 1-0 defeat to minnows the Comoros in a World Cup qualifier in November.

They looked set to take a point against Cape Verde thanks to Alexander Djiku's second-half header, but an injury-time Garry Rodrigues goal condemned them to defeat.

Thursday, January 18, 2024

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Femi Adesina to Reuben Abati

“Reuben Abati said the house they gave him in the Villa, he didn’t sleep there for one night because when he attempted to sleep there, fire just broke out. So, he ran away.

I slept in my house for eight years, not only did I sleep but I was snoring. If they had won the 2015 election and President Jonathan had asked him to continue as special adviser, he would have continued in a place that (he says) was haunted”—former presidential spokesman taking a dig at his predecessor.

olusegunadeniyi Abuja and The Reign of Kidnappers the verdict olusegun.adeniyi@thisdaylive.com

S

ustaining a weekly column has become increasingly frustrating given the current wave of kidnappings across the country. One begins to sound like a broken record on so many critical issues. Considering what has been identified as our collective national amnesia, I am not surprised to receive messages from readers who ask why I have not commented on kidnappings. Yet, this is an issue on which I have intervened numerous times, including reporting contributions I made to ‘ransom funds’ for the release of some victims. Perhaps more Nigerians are now paying attention to this serious national security challenge because kidnappers have moved from the hinterland to the Federal Capital Territory (FCT).

The kidnapping of six young ladies from their Bwari (Abuja) home on 9 January, along with their father, Mansoor Al-Kadriyar, may have been the tipping point. In releasing Mr Al-Kadriyah, the kidnappers asked him to go and find N60 million to ransom his six daughters, not later than last Friday.

Unable to meet the payment deadline, the kidnappers killed one of his daughters, Nabeeha, a 400-level student of Biological Sciences, Ahmadu Bello University (ABU), Zaria and dumped her body on the street.

When concerned citizens, including a former Minister, Isa Pantami (who announced that his friends had raised N50 million) invoked the idea of crowdsourcing funds online to secure the release of the remaining five daughters, the kidnappers jacked the ransom money to N100 million.

We pray for the safe return of the five Al-Kadriyar siblings—including Najeebah, a 500-level Quantity Surveying student and Nadherah, a 300-level Zoology student. But President Bola Tinubu must go beyond the usual ‘summon of Service Chiefs’ perfected by his predecessor to no result. Besides, action speaks louder than words. When you vote N1.4 billion for arms and ammunition for the police, and a whopping sum of N31.915 billion to erect fanciful buildings for the Office of the National Security Adviser (as captured in the 2024 Budget by a Daily Trust report yesterday), it is obvious that the administration does not yet appreciate the enormity of the security problems we grapple with in Nigeria today.

On 26th of last December, the district head of Pandan-Gwari in Bwari area council of the FCT was kidnapped right in his palace alongside five of his subjects. Their whereabouts remain unknown even though the criminals have reportedly made a ransom demand of N50 million. Last Thursday, the invaders moved to Kawu community in the same Bwari area council. The Councillor representing the area, Abdulmumini Zakari, told PUNCH newspaper that gunmen numbering about 40 “divided themselves into groups and some went into the palace of the district head, Abdurrahman Ali, where they abducted his son, Lukman, and his wife, whom he married two weeks ago.” While the challenge goes beyond Abuja, the symbolism of a federal capital city where residents dread moving around due to fear of kidnappers is quite telling.

From North to South, East to West, local economies in most rural areas across the country today are comatose because peasant

proportion of the global total increased from 23 per cent in 2010 to 34 per cent. Nigeria is now the kidnap for ransom capital of the world, accounting for a quarter of globally reported cases,” the AIO stated. And that was 12 years ago. If anything, the situation has worsened in the last decade. But before I conclude, let me excerpt from my 18 March 2021 column, ‘Kidnappings Incorporated’.

FCT Minister, Nyesom Wike

farmers have been forced to abandon their farms due to incessant kidnappings. Amnesty International concluded its report last year: “The Nigerian authorities have left rural communities at the mercy of rampaging gunmen.” And we can see the result in the astronomical cost of basic foodstuff.

Meanwhile, this national problem has been with us for more than a decade. As far back as 2012, the African Insurance Organization (AIO) designated our country the kidnap for ransom capital of the world. Nigeria, according to the AIO at the 18th African reinsurance Forum in Mauritius, accounted for 25% of global kidnappings in 2011. “The number of kidnaps for ransom in Africa continued to increase. In the first half of 2011, Africa’s

================================ Nuhu Tanko is a gardener at the Shehu Musa Yar’Adua Centre, Abuja whose two brothers were kidnapped on 31st December 2020 on the way from their village (Dakunu in Chukum local government of Kaduna) to the state capital. According to their account, the kidnappers, clad in military camouflage, were more than 50 in number, all on motor bikes, with each carrying at least two guns.

They were all masked. The two brothers were also on a motor bike which was burnt by their abductors after they were kidnapped.

At the Katarimape forest where they were taken, the duo met three other victims who, like them, had their hands and feet tied.

Each day, the five captives were given a cup of water and some local biscuits to share.

When the kidnappers eventually reached the Tanko family, they demanded a ransom of N10 million. After disposing of their small piece of land and everything else the family could sell, negotiations spanned three weeks.

Eventually, the family reached out to Tunde Ahmadu, the Yar’Adua Centre Chief Operating Officer to help raise money.

Tunde was allowed to listen in on one of the calls with kidnappers who threatened to kill the two boys if the ransom money was not produced on time. After gathering N900,000 in cash for the two (and having been warned never to involve the police if they wanted them back alive), a Tanko family ‘emissary’ took the money to a specified location in Katarimape forest as directed by the kidnappers. A few hours later, the two brothers returned home. “Most people have left our village because of kidnappings.

It’s like bandits have taken over our village and the surrounding communities,” Tanko

lamented while sharing the tragic saga with me. “They kidnap people, kill and rape women, even if the women are pregnant.”

The pathetic picture painted by Tanko is not different from the account of Mallam Iliya Gwaram, father of one of the abducted Jangebe school girls in Zamfara State, who himself was in captivity at the time the female students were brought to join them. “l saw the schoolgirls being brought into where we were camped by our abductors. At first, l didn’t know who they were or where they were coming from, until l saw the face of my scared daughter looking at me. I quickly told some of the girls who were brought along with her and sat near me to tell my child not to show any indication that she even knew me,” Gwaram recounted after his release a few days later. “The girls were brave enough and they kept our little secret up to the last of their four days stay with us. l never cried in the whole of my life like l cried the day the girls were taken back because l felt it was the last time l would see my daughter…”

ENDNOTE: With the invasion of kidnappers, ‘one-chance’ vehicle robbers and sundry other criminal cartels, Abuja is becoming increasingly unsafe for residents. Respected security analyst and lawyer, Bulama Bukarti, has explained the reason why. “Over 9,700 people were killed last year in 2023 across Nigeria. Abuja cannot be immune to that because, as long as you leave insecurity to fester and flourish across Nigeria, then, it will find its way to Abuja,” he said while noting that what happens within the FCT is a reflection of the security challenge in Nigeria. “The way to secure Abuja is to take the fight to the bandits and terrorists in other parts of the country.”

It is difficult to fault Bukarti’s thesis. The FCT Minister, Nyeson Wike, may have his job cut out for him. But this problem is beyond him. Until the whole of Nigeria is safe and secure, residents of Abuja deceive themselves to imagine that they can be safe. That’s why the federal government must collaborate with the states to find a solution to the growing challenge of insecurity in Nigeria.

Appeal Court and ‘The Ben Johnson Way’

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t a colourful ceremony in Owerri on Monday, attended by President Bola Tinubu, former President Olusegun Obasanjo and several others, Imo State Governor, Hope Uzodimma was sworn in for a second term in office. I join in congratulating the governor and I genuinely wish him success. Especially now that he has legitimately earned the votes of his people. But it is also on record that Uzodimma came fourth in the election that brought him to power for his first term in January 2020. His controversial mandate was secured after a judgement that has done enormous damage to the reputation of the apex court and many of the Justices. And he was appropriately dubbed ‘Supreme Court Governor’, after admitting that he earned his victory ‘The Ben Johnson Way’.

For those who may have forgotten, on 24 September 1988 at the Seoul Olympics in South Korea, Canadian athlete, Ben Johnson, won the 100 metres final with a then unprecedented record

of 9.79 seconds. Three days later, the Olympic Doping Control Center found that Johnson’s urine sample contained a banned substance.

Not only was the gold medal withdrawn and his record wiped but the shame and disgrace that followed has endured till today. So, despite the best efforts of Uzodimma’s media minders after he inadvertently made that disclosure, the only enduring interpretation to ‘The Ben Johnson Way’ is that the governor cheated his way to power in January 2020. While that is now ancient history, we should be concerned that the judiciary is encouraging ‘The Ben Johnson Way’ to power in Nigeria.

Following last week’s judgement of the Supreme Court that affirmed the election of Caleb Mutfwang as Governor of Plateau State, it is now established that the Court of Appeal which is ordinarily supposed to promote the rule of law, is at the core of democratic perversion in the country. Simon Lalong, the immediate past

Governor of Plateau State, may be a gentleman (and he is a man I admire), but given the judicial circumstance under which he arrived at the National Assembly, he has earned the sobriquet ‘Appeal Court Senator’. Same for several other lawmakers from the state.

The sordid drama started last November when a Court of Appeal panel, led by Justice Elfrieda Williams-Dawodu, unanimously nullified the election of Governor Muftwang on grounds that he was not validly nominated by the main opposition Peoples Democratic Party (PDP). Based on that, victory was awarded to the defeated All Progressives Party (APC) candidate, Nentawe Goshwe. And on the same grounds, the court nullified the elections of several PDP members in national and state assemblies’ elections with their defeated opponents in APC and Labour Party (LP) awarded their seats…

NOTE: Piece concluded online

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