FRIDAY 19TH JANUARY 2024

Lokpobiri: FG Ready to Immediately Approve Shell’s $2.8bn Deal with Oil Consortium Lokpobiri insists Nigeria not losing anything from IOC’s Divestment Reveals issues over deadlocked Mobil-Seplat $1.3bn deal 99% resolved Vows to ensure altercations between NNPC, divesting firms are halted

Emmanuel Addeh in Abuja

In what appeared a clean break from

the past, the federal government yesterday said it was willing to immediately approve the $2.8

billion onshore assets sale agreement between Shell and a consortium of oil companies in Nigeria.

The Minister of State, Petroleum Resources (Oil), Senator Heineken Lokpobiri, in a statement signed

an exclusive interview with Arise

by his Special Adviser on Media and Communication, Nneamaka Okafor as well as excerpts from

Continued on page 5

12 More Deep Offshore Oil Blocks for Auctioning as NUPRC Conducts New Mini Bid Round... Page 6 Friday, January 19, 2024 Vol 28. No 10509. Price: N400

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Five More Governors Know Fate Today as Supreme Court Delivers Judgments Alex Enumah in Abuja The Supreme Court will today decide the fates of five governors, whose elections had been under

litigation for the past nine months.

The apex court had reserved judgement in the various appeals against the elections of the governors shortly after arguments were

concluded by their respective lawyers in the separate cases.

The five states, whose governorship appeals will, by law, expire between January 21 and 22

are Nasarawa, Delta, Gombe, Kebbi, and Ogun.

In Nasarawa State, the Peoples Democratic Party (PDP) and its candidate in the March 18, 2023

governorship election, Hon. David Ombugadu, had approached the apex court to set aside the judgement of the Court of Appeal, which nullified the judgement of

the Nasarawa State Governorship Election Petition Tribunal, declaring him winner of the governorship Continued on page 5

Shettima: We’re Not in Davos to Beg, But Dialogue on Equal Terms Declares Nigeria, Africa not poor by any standard Says global community thrilled with subsidy removal, collapse of multiple FX rate regimes, taxation Insists quests for foreign investments will soon yield results Boasts wherever trajectory of global growth facing Africa, Nigeria will make or mar destination Deji Elumoye, Kingsley Nwezeh, Dayo Adedayo in Abuja and Nume Ekeghe in Lagos Vice President Kashim Shettima said yesterday, at the ongoing World Economic Forum (WEF) in Davos, Switzerland, that Nigeria was not at the event to beg as a poor nation, but was dealing with Western nations on equal terms.

Shettima spoke exclusively to Arise News Channel as head of

the Nigerian delegation to the global forum.

While reiterating that the country did not head to the 2024 WEP to beg but to dialogue with investors on a fair, balanced and mutually beneficial relationship, he expressed happiness with the outpouring of support for Nigeria by the global business community.

The vice president said the Continued on page 5

Ighodalo Pledges to Position Edo to Tap from $17trn Global Idle Capital... Page 9

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Takang: MOFI’s Takeover of FG’s Shares in Discos’ to Resolve Structural Issues in Power Sector Says govt to set up national assets register

Emmanuel Addeh in Abuja The takeover of the federal government’s 40 per cent shares in electricity Distribution Companies (Discos) in Nigeria is part of efforts to resolve the structural problems in the power sector, the Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, said yesterday.

Speaking during an interview on Arise Television, THISDAY’s broadcast arm, on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Takang stated that the whole essence is to ensure that operators increase the quantum of electricity to Nigerian homes and businesses.

MOFI which was established over 63 years and only existed as a non-operating entity before now, he said, will henceforth act as the investment asset manager on behalf of the federal government of Nigeria.

According to him, the new MOFI is important because at the moment the government has an economic agenda which requires optimal management of Nigeria’s assets, including dividend payments, capital appreciation of those assets, among others.

“As you know, the private sector is very central. The president has given a clear direction as to where we should go with respect to our economic repositioning under the renewed

hope agenda.

“One of those is really the fact that steps and policies and measures must be taken to double our Gross Domestic Product (GDP) growth by 7 per cent above our population growth. The second is to work towards ensuring that we grow our GDP base to $1 trillion.

“The third is to ensure that we're creating tens of millions of jobs for a lot of our young population.

All of these things are not likely to happen without addressing the challenges that we have with the power sector.

“The government has already taken steps to address that. So, on the issue about transfer, it is just part of a broader picture to see how we will address some of the

structural issues within the power sector with a view to ensuring that we increase the number of hours that Nigerian homes, Nigerian businesses, Nigerian industries as well as communities get light,” he stated.

And to do this, Takang added that there are many players that are involved in it, from generation to transmission to distribution, explaining that whatever is being done now is part of that bigger programme to ensure that challenges in the power sector are addressed.

The MOFI chief executive stated that one of the three key areas being focused on by the organisation is the attempts by the federal government to have

a list of all its assets nationwide.

“The first one is around our corporate assets. And these are companies where government either owns 100 per cent or owns shares.

And the job we've been given is to make sure that we work with the operators of those entities as well as other stakeholders to ensure that we're professionally managing our shareholding in these entities so that value will be created.

“Today, everybody knows what we owe. But we cannot say authoritatively what we own, how much of it we own, where it is located or the value. We need to establish a national assets register of federal government across the different asset classes.

“The third is mobilising

Takang investment to be invested in even those assets as well as priority sectors of the economy. And so, before we start talking about how to optimise those assets, how to monetise the assets, it is important that we establish our ownership structure, our rights and authenticat where they are located,” he added.

FIVE MORE GOVERNORS KNOW FATE TODAY AS SUPREME COURT DELIVERS JUDGMENTS poll in the state.

The appellants, through their team of lawyers, led by Chief Kanu Agabi, SAN, submitted that the appellate court erred in law in reversing the decision of the tribunal.

Agabi, subsequently, prayed the apex court to "allow the appeal, set aside the judgement of the Court of Appeal, and restore the judgement of the tribunal," which declared his client winner of the election.

The senior lawyer stated that the Court of Appeal unjustly nullified the tribunal's judgement and unjustly declared Governor Abdullahi Sule

winner of the March 18 governorship election.

Agabi specifically asked that the Supreme Court should allow the votes of Nasarawa State people to count and be meaningful by declaring PDP and Ombugadu winners as rightly done by the tribunal.

However, Sule, his party, All Progressives Congress (APC), and the Independent National Electoral Commission (INEC), through their respective lawyers, urged the court to dismiss the appeal for lacking merit.

After taking arguments from lawyers, Justice Kudirat Kekere-Ekun announced that judgement had been reserved and the date for its delivery would be communicated to parties.

In the Kebbi case, PDP and its candidate, Aminu Bande, urged the apex court to allow their appeal and set aside the concurrent judgements of the Court of Appeal and the election tribunal, which affirmed the election of Nasir Idris of the All Progressives Congress (APC) as Kebbi State Governor.

The respondents’ counsels, however, urged the court to dismiss

the appeal for lacking merit and uphold the judgements of the lower courts that upheld the election.

In Delta State, three candidates, who participated in the March 18 governorship poll, had been seeking to unseat Sheriff Oborevwori as governor of Delta State. They include Kenneth Gbagi of Social Democratic Party (SDP), Senator Ovie Omo-Agege of APC, and Ken Pela of Labour Party (LP).

INEC had declared Oborevwori of PDP winner of the March 18 governorship election in Delta State.

Not satisfied, the three separate

appellants went to the governorship election tribunal to challenge PDP's victory. However, the tribunal dismissed the various petitions for lacking in merit, just as the appellate court held that Oborevwori was lawfully elected governor.

Still not satisfied, the individual appellants approached the Supreme Court to nullify the election of Oborevwori, conduct a fresh election, or declare them winner of the governorship election. At the end of arguments by lawyers representing parties in the appeal, Justice John Okoro announced that

LOKPOBIRI: FG READY TO IMMEDIATELY APPROVE SHELL’S $2.8BN DEAL WITH OIL CONSORTIUM Television, said that government was only awaiting the document detailing the terms of the deal to give its consent.

Oil giant, Shell, had in Tuesday announced that it had agreed to sell its Nigerian onshore assets to Renaissance, a consortium of four Nigerian firms and one foreign company, for a book value of $2.8 billion.

It said that with the deal, its onshore subsidiary, the Shell Petroleum Development Company of Nigeria (SPDC) will now be operated

by ND Western, Aradel Energy, First E&P, Waltersmith and Petrolin, a Swiss firm.

However, Shell stated that the completion of the deal was still subject to approval by the federal government. Under the last administration, arguably all the divestment moves were thwarted by the federal government.

But Speaking on the sidelines of the ongoing World Economic Forum (WEF) in Davos, Switzerland, Lokpobiri affirmed that the decision was part of the Nigerian government's commitment to fostering a businessfriendly environment in the oil and gas sector.

Lokpobiri emphasised that the Nigerian government will not impede legitimate business transactions in the oil and gas sector, stating that: "On the part of the government, once we get the necessary documents, we will not waste time to give the necessary considerations and consent."

Responding to concerns about International Oil Companies (IOCs) diversifying their onshore assets, the minister highlighted the positive aspects of the diversification.

He noted that Nigeria loses nothing as such moves create opportunities for indigenous companies with the capacity to acquire and professionally manage these assets, leading to increased profitability and the maximization of their potential.

Addressing potential negative impacts on the country, Lokpobiri reassured that the diversification would not adversely affect Nigeria.

“Most of the IOCs are more interested in going deep offshore.

Deep offshore is exclusive arena for IOCs which require tens of billions of dollars. The independents or local players may not be able to get such huge funding. It also comes with

less community problems.

“No company is willing to leave Nigeria, no company has said that look, we are leaving Nigeria totally, but most of them are interested in divesting from onshore shallow water assets, because they felt that it is better for them to operate deep offshore.

So, we lose nothing.

“I can also tell you categorically that the local players have also developed so much capacity to an extent that they can acquire these assets or run them professionally, profitably and so Nigeria doesn’t lose anything.

“In my opinion, it’s another opportunity we have, where these local players can acquire these assets and operate them. Our money is still in our country as opposed to the IOCs’ taking it abroad. We lose nothing in terms of jobs, in terms of accruals to government, we lose nothing,” he stated.

He emphasised the government's engagement with IOCs regarding the decommissioning of non-productive assets and abandonment issues. The minister stated that concerns raised

by IOCs, particularly with Nigerian banks, have been addressed, assuring a safe environment for the handling of funds related to decommissioning and abandonment.

"As a government, we will adhere to the law without jeopardising legitimate businesses," he added.

The minister reiterated the government's commitment to addressing sector concerns, including insecurity and aging infrastructure, such as pipelines. He highlighted ongoing engagements with companies to invest in pipeline technology and other critical infrastructures within the oil and gas value chain.

“Let me say it categorically that we’re doing maybe 1.4 million bpd.

So if you add the condensate of 350,000, we already surpassing the budget. So, we will have no difficulty in a meeting what is contained in a budget.

“The good thing is that OPEC doesn’t calculate condensates?

Condensate is also great crude and it’s more expensive than the bonny lights and other crude that we sell.

“But I also want to say that our temporary inability to produce 2 million barrels of crude has nothing to do with capacity. It is because of the problems we have with insecurity and our aging infrastructure and

we’re doing whatever we can to attract new investment in the assets.

“Government is not resting at all on its responsibility of trying to bring criminals to justice, but it has to be multi-pronged approach, and that is why we have a civilian security contract that was awarded some years ago. We also renewing it.

“The little increase we have today is because of the collaboration between the civilian security operators and the government security agencies.

And I can assure you that you know, there’s a difference between a local operator and Oyinbo operator as it were, if they see you as their own.

“I believe that if you look at the successful record from the local companies, which are very strong, you see that they have less community problems. They know how to deal with these communities better,” he added.

Lokpobiri announced that the president has approved a licensing bid round, demonstrating the government's dedication to initiating the process promptly.

On the stalled Mobil-Seplat $1.3 billion deal, Lokpobiri said that the

process has almost been concluded, stressing that he had settled all the areas of disagreement between the Nigerian National Petroleum Company (NNPC) and the oil companies.

“I don’t want to speak for the NNPC. But I can also tell you that the NNPC reports to me and I don’t have any indication as at this moment, as to whether that kind of thing (opposing Shell deal) will happen.

“But I can also tell you that the Seplat-Mobil transaction, which was truncated in the last administration has been 99 per cent resolved. I brought the parties together. We have had a series of meetings. We have agreed on the terms.

“It’s just for the NNPC board to sit and approve the terms of the settlement and Seplat board sits and approves the terms of the settlement.

It was a big disincentive to the IOCs to make further investments. And so, I brought them together, we have resolved, we have disagreed to agree. So, that matter is resolved.

“Under my watch, I will do whatever I can to see how that kind of situation does not arise

again. NNPC had every reason to invoke the right of first refusal. But I have also told them to indicate it on time, so you don’t allow parties to negotiate up to the final point before you say you are interested.

“We have to do things differently.

And this government is willing to do things differently so that we can get the results that we deserve as a country,” he stated.

Unlike Angola, Lokpobiri said Nigeria has no intention to leave the Organisation of Petroleum Exporting Countries (OPEC).

“Angola joined OPEC midway.

Nigeria is one of the founding members of OPEC. And I know that we have questions like Angola, but it’s better for you to stay in the house and address those concerns than going out.

“I tried to talk to my counterpart in Angola to say Look, don’t leave OPEC, stay in and then continue to argue within the family, but it’s a sovereign country. So it is its prerogative to decide to stay or leave. We will not leave. But we will continue to make our point,” he said.

judgement had been reserved.

In Ogun State, the PDP candidate, Oladipupo Adebutu, is seeking to unseat Governor Dapo Abiodun of APC. Adebutu’s lawyer told the apex court that the case of the appellants was misconceived at the lower courts, adding that evidence were presented before the tribunal to prove that results from 99 polling units with votes of over 40,000 were cancelled.

He argued that the said 40,000 votes were far more than the margin of 13,000 votes between Abiodun and Adebutu.

He submitted that INEC was wrong to have gone ahead to declare results of the March 18 governorship election in Ogun State, when the issue of cancelled votes in 99 polling units had not been resolved.

However, all the respondents, citing Section 179 of the 1999 Constitution, argued that the election of a governor could not be challenged on grounds of margin of lead.

Okoro announced that judgement had been reserved, after taking all submissions from parties.

In the case of Governor Muhammad Yahaya of Gombe State, little respite came his way Thursday as the Supreme Court dismissed the appeal filed by the candidate of African Democratic Congress (ADC), Nafiu Bala, for lacking in merit. A five-member panel of the apex court led by Kekere-Ekun dismissed the appeal, shortly after it was withdrawn by the appellants.

Meanwhile, the apex court adjourned to today for judgement in the other appeal filed by Jibrin Barde of PDP. The panel fixed today for judgement after parties adopted and argued their briefs of argument in the appeal, which expires on Sunday, January 21.

SHETTIMA: WE’RE NOT IN DAVOS TO BEG, BUT DIALOGUE ON EQUAL TERMS global business community was thrilled with the policy direction of the federal government, which culminated in fuel subsidy removal, collapse of multiple taxation, and the foreign exchange regimes initiated by the President Bola Tinubu government.

According to him, "We are not a poor nation by any standard. We are not a poor continent. We want to deal with people on a pedestal of equality. We do not come to the West with a begging bowl.

"No, we want to deal with them on mutually beneficial terms because ours is the richest continent in the world. The whole countries of Europe, their resources are not up to the resources in the Democratic Republic of Congo.

"This is why I said we carry our poverty with dignity. We are not here to beg. Wherever we go, we go to have mutually beneficial relationships with Western nations and Western entities."

On the government’s policy direction, investment climate, and potential investors in Nigeria, the vice president affirmed that the

global investment community was thrilled with steps taken by the government to reengineer Nigeria’s economy.

He stated, "Our presence was well-received, especially in the light of some far-reaching decisions taken by the present administration towards repositioning the economy.

"Oil subsidy for successive administrations had been an albatross around our neck. The president summoned the political willpower to remove the oil subsidy.

“And we know the consequences of unveiling a masquerade. There's a huge cabal that were packed on the oil subsidies camp.

"Look at the multiple exchange rate regimes that provided room for elective, shady practices. We collapsed the multiple exchange rates, the multiple taxation.

“The president had set up a committee to synchronise our taxes and come up with a single line taxation system.

"So the global community was thrilled. We have had a lot of positive interface, positive

interactions, and very soon our efforts will start yielding fruit."

On private sector investment and the African Continental Free Trade Area (AfCFTA), Shettima expressed confidence that Nigeria was poised to take advantage of digital revolution to encourage investment in the private sector.

He said, "Well, Africa missed the agricultural age, Africa missed the industrial age. We are now in the knowledge ribbon post-industrial age dominated by big data, artificial intelligence, biotechnology and we are uniquely positioned to really leapfrog into the new age because this is knowledge-driven and Africans are doing marvellously well in that arena.

"As Charles Darwin rightly said, it's not the strongest or the most intelligent of the species that survive, but those that are adaptable to change.

"Yes, the illiterates of the 21st century are not those who cannot read and write, but those who cannot learn and learn and relearn.

We are poised to take advantage of the digital revolution."

Shettima maintained that Nigeria would lead the charge to take Africa to the desired destination with the strength of its population.

He said, "For the purpose of perspectives, one out of every four black men is a Nigerian, and by 2050 we are projected to be the third most populous nation on earth. We will surpass the United States.

"Our population will be 440 million people by then. One out of every three black men will be a Nigerian, and by the end of the century, we’ll be the most populous nation on earth.

"Certainly, this is the most populous country in Africa and its largest economy. Wherever Nigeria goes, that's where Africa goes and the trajectory of global growth is facing, Africa and Nigeria will make or mar that destination.

"We are poised to take advantage of the digital revolution. We are in a unique position, digitally equipped.

We can really take advantage of the digital revolution and occupy our rightful place in the comity of nations."

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NEWS

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

BLACKROCK MEETS CBN… L-R: Analyst, BlackRock, Mr. Dennis Kalugin; Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso; Managing Director, BlackRock, Ms. Emily Fletcher, and the Deputy Governor (Economic Policy) of the CBN, Mr. Muhammed Sani Abdullahi, during a recent meeting with top management of the Central Bank of Nigeria, in Abuja, to discuss ongoing reforms and Nigeria’s monetary policy outlook.

12 More Deep Offshore Oil Blocks for Auctioning as NUPRC Conducts New Mini Bid Round Commission says outstanding mini bid round for seven blocks to be concluded soon To hire experts for conduct of technical integrity audit of metering facilities To embark on tour of upstream facilities coming weeks Peter Uzoho With wide interest from local and foreign investors in the seven deep offshore oil blocks put on offer during the 2022/2023 mini bid round, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plan to conduct another mini bid round this year for additional 12 deep offshore blocks.

The Chief Executive Officer of NUPRC, Mr. Gbenga Komolafe, announced this yesterday, at the commission's Lagos Regional Office, during his presentation at a parley between him and members of the Oil Producers Trade Section (OPTS) and the Independent Petroleum Producers Group (IPPG).

He, however, stated that the ongoing mini bid round for the seven deep offshore blocks would be concluded this year.

The NUPRC engagement with the OPTS and IPPG was designed with a dual purpose of setting the tone for the Nigerian oil and gas upstream industry for 2024, as well as for the commission and the two

associations to brainstorm on the NUPRC Regulatory Action Plan for 2024 and the near term.

The Regulatory Action Plan was issued by the NUPRC on January 1, 2024 to set a direction for the industry's activities.

The NUPRC had in December, 2022 announced the beginning of the 2022/2023 mini bid round for the seven Deep Offshore blocks otherwise called Petroleum Prospecting Licences (PPLs).

The blocks covering an area of approximately 6,700 square kilometres in water depths ranging from 1,150metres to 3,100metres, are located off the city of Lagos rather than off the coast of the Niger Delta, further to the east where most of the country’s oil industry is concentrated.

The commission had listed the seven deep offshore open blocks as: PPL-300-DO, PPL-301-DO, PPL302-DO, PPL-303-DO, PPL-304-DO, PPL-305-DO and PPL-306-DO. Prior to the 2022/2023 mini bid round, Nigeria has had a major bid round for such assets about 17 years ago when in 2007, 45 blocks drawn

from the inland Basins of Anambra, Benue and Chad; the Niger Delta Continental Shelf; Onshore Niger Delta and Deep Offshore were auctioned.

But Komolafe said the proposed 12 oil blocks to be auctioned during the upcoming mini bid round are located in the Continental Shelf and deep offshore.

"Let me seize this opportunity to announce that in line with the provisions of Section 73 of the PIA, the commission will conclude the 2022/2023 Mini-bid Round and as well, conduct a new bid round of 12 blocks located in the Continental Shelf and Deep Offshore.

"We hereby call on investors to participate in the bid round process that will commence soon for shared prosperity", the NUPRC boss said.

Komolafe also disclosed that the commission would be engaging certified metering experts to conduct technical integrity audit of the metering facilities in the Nigerian upstream sector with a view to ensuring that metering

facilities function at best practices and industry allowable limit of error.

In the weeks ahead, he revealed that the commission would be conducting a tour of upstream facilities in Nigeria as part of the commission's oversight and monitoring functions.

Furthermore, Komolafe announced that the commission had equally put in place a robust framework to guide issues of divestment and implementation of the decommissioning and abandonment as well as the implementation of the Community Development Trust.

The regulator explained that the NUPRC Regulatory Action Plan for 2024 and the near term was intentionally issued on January 1, 2024 to set a direction for the industry's activities.

According to him, the plan attracted significant publicity both in the local and international media, adding that the Regulatory Action Plan was not just a document but was designed as a signpost for the industry and stakeholders.

He told the operators under the

Ayeni: FG Earned $4.5bn from Non-oil Exports in 2023 James Emejo in Abuja The Executive Director/Chief Executive, Nigerian Export Promotion Council (NEPC), Mrs. Nonye Ayeni, yesterday disclosed that the country attracted the sum of $4.5 billion from non-oil exports last year.

She said since her assumption of office in October 2023, the performance of the non-oil export sector had further indicated massive potential for growth and economic diversification.

Speaking at the presentation of the progress report on the non-oil export performance for 2023, she stressed that an increase in the volume and value of exportable goods and services and the repatriation of export proceeds will enhance foreign exchange

inflow into the country as well as assist to stabilise the value of the Naira.

However, the non-oil export revenues declined by 6.25 per cent compared to $4.8 billion recorded in 2022.

Ayeni attributed the shortfall to instances of export rejection, the 2023 general election, economic recession among others, adding that though there was a decline in value exported, a substantial volume increase was recorded.

According to the NEPC chief executive, the volume of non-oil export continued to increase over the years with 6.685 million metric tonnes of exportable products last year, thereby reaffirming the widely held assertion that the sector holds the key to economic revitalization.

She said 273 different products were reported to have been exported in the period under review ranging from manufactured, semi-processed, solid minerals to agricultural commodities.

The figure reflected a notable increase of 28.04 per cent compared to the preceding year.

Records from Pre-shipment Inspection Agents (PIAs) showed that of the top 20 products exported in 2023, urea, cocoa beans, sesame seed, soya beans/ meal, cashew nuts/kernels, aluminum ingots, and hibiscus flower topped the list respectively.

She said the council remained committed to consistently building the capacity of non-oil exporters across the value chains on product, and market development among other requisite skills to enable them

to penetrate the international market.

She said a total of 92 capacitybuilding programmes were held across the NEPC regional offices in the six geo-political zones with 13,751 participants within the review period.

Ayeni said, “NEPC is very optimistic, and remains committed to working with the various stakeholders to ensure that our non-oil export doubles in a short time.

“This aligns with the Industrial Revitalization Agenda of the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite and the Renewed Hope Agenda of President Bola Ahmed Tinubu for job creation, poverty alleviation and economic growth, development and diversification.”

aegis of OPTS and IPPG to be rest assured that the commission had considered possible implications and had designed planned responsibility to accommodate industry dynamics.

"Our goal is to enhance and facilitate a business environment that is resilient, adaptable and align with global best practices.

"As members of OPTS and IPPG, you will continue to play pivotal role in shaping the industry response to the evolving energy dynamics for the prosperity of our nation. The implementation of the Regulatory Action Plan will be a collaborative effort to our mutual benefits", he stated.

To facilitate open communication between operators and relevant

stakeholders, Komolafe said the commission would be establishing a dedicated platform for continuous engagement on the regulatory action plan.

He explained that the platform would provide all stakeholders, OPTS and IPPG, with opportunities to share insights, seek clarifications and actively participate in shaping the landscape for the collective good of all.

He extended his gratitude to his guests and partners for their unwavering commitment to the development of the country's hydrocarbon resources as an industry and to work with the commission as a regulator for the realisation of the action plan.

Access Bank Seeks to Acquire 80% Stake in Ugandan Finance Trust Bank James Emejo in Abuja Access Bank Plc, said it has signed a definitive agreement with the Ugandan-based Finance Trust Bank Limited (FTB) and its Selling Institutional Shareholders for the acquisition of a majority equity stake in the former.

The move would enable the Nigerian bank to own about 80 per cent shareholding in FTB following the conclusion of customary conditions precedent.

The transaction involves Access Bank's acquisition of a majority stake from existing shareholders and a capital injection to increase FTB's capital base.

However, both the acquisition and planned capital boost remained subject to regulatory approvals by the Central Bank of Nigeria (CBN) and the Bank of Uganda.

Access Holdings stated in a statement issued by its Company Secretary, Sunday Ekwochi, that the transaction should be closed in the first half of 2024.

Commenting on the transaction, Group Chief Executive, Access Holdings, Dr. Herbert Wigwe, said the development marked an important milestone for the bank, and “moves closer to the achievement of our five-year strategic plan through continued

expansion into key markets”.

He said, “We are building a strong and sustainable franchise to support economic prosperity, encourage Africa trade, advance financial inclusion thereby empowering many to achieve their financial dreams.

“The expansion to Uganda will support the realisation of our aspiration to become Africa's payment gateway to the world."

Also, Managing Director/Chief Executive, Access Bank, Roosevelt Ogbonna, said the ongoing expansion drive would position the bank to take due advantage of the African Continental Free Trade Agreement (AfCFTA).

He said, "Trade flows in East Africa revolve around key trade corridors, with Uganda being a key player in the region. With the African Continental Free Trade Agreement, these corridors will continue to expand and by deploying our best-in-class financial solutions, we are strategically positioned to deliver value for our stakeholders.

“The transaction will enable the Bank to leverage its strong experience in the gender empowerment market to support FTB's mission to deliver innovative financial solutions to customers especially women which currently comprises about 40 per cent of its customers.”

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THE BRACED COMMISSION MEETING IN EDO… L-R: Representative of Delta State Governor and Deputy Governor, Sir Monday Onyeme; Akwa Ibom State Governor, Umo Eno; his River State counterpart, Siminalayi Fubara; Edo State Governor, Mr. Godwin Obaseki; Bayelsa State Governor, Senator Douye Diri and the Director General, BRACED Commission, Ambassador Joe Keshi, at the BRACED (Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta) Commission meeting, at the Edo State Government House, in Benin City.... yesterday

AEDC Signs Tripartite Agreement for First On-grid, Solar Hybrid Power Solution James Emejo in Abuja The Abuja Electricity Distribution Plc (AEDC), yesterday signed a tripartite agreement with Daystar Power Solutions Limited and The Wood Factory Limited to pioneer the delivery of its first grid-connected and solar hybrid power solution for commercial use.

It is coming on the heels of

the first interconnected mini-grid power solution for communities in Nigeria launched by AEDC and its strategic partners in Toto, Nasarawa State, in November 2023.

Under the agreement, AEDC will provide 18 hours of reliable electricity supply to Wood Factory, a top furniture manufacturer while Daybreak will provide six hours of solar powered electricity

to the factory, both leveraging interconnected power facilities to deliver electricity supply to the customer.

Speaking at the ceremony Managing Director/Chief Executive, Abuja Electricity Distribution Company (AEDC), Mr. Christopher Ezeafulukwe, said the AEDC was excited about the great opportunities that the

transformation and turnaround of AEDC was giving to serve its customers.

“This project is a product of our consistent questioning of the status quo in the resilient push of our conviction and belief in using diversified energy sources to serve our customers better, while closing the supply gap in our market.

“Having previously

Wike Gives December 2 Deadline for Completion of Ongoing Projects in FCT Olawale Ajimotokan, Abuja Minister of the Federal Capital Territory, Nyesom Wike, has said that beyond the May deadline, all projects in the Federal Capital Territory would be handed over to the public by December 2.

He made the assertion yesterday while inspecting ongoing road projects at Guzape Lot 2, undertaken

by Gilmour Construction, and Roads B6 and D12 along the Constitution Avenue, handled by Julius Berger Construction.

“By and large, we are very happy with what we are seeing and you can attest to the fact that since Mr. President came on board, no work has stopped in all these sites. There are so many other sites,

but it will be difficult to take all at the same time. But we believe that after May, before December 2, so many projects will be handed over to members of the public,” Wike said.

The minister flayed reports of a House of Representatives member obstructing the construction in Guzape, and barriers placed by the Central Bank obstructing Construction at road B6.

He said it was out of order for any law maker to use the police to stop a legitimate company constructing work for the use of the public, which was approved by the Federal Executive Council.

He directed the contractor to go back and ensure they complete the work, which the President is

expected to commission in May. “We are not going to take it lightly. This is not a private project; it is a public project, handled by the Federal Capital Territory Administration. They must go back and complete the work," Wike ordered.

He gave kudos to Julius Berger in relation to the construction work at B6 and D12 Area.

However, he observed some obstruction by the Central Bank of Nigeria, which he vowed will not be allowed.

His words: "You see, one thing with institutions is that when they apply for land, and they are trying to give them, they will go beyond what was given to them, and it causes obstruction. I have always

said anything for the public; we will not take it for granted. So, we want the Central Bank to allow us use what belongs to us for the interest of the public.”

Wike also made clarification on why he had seemingly not been carrying the Senator representing the FCT, Ireti Kingibe, along.

He said: “As my Senator, she represents the FCT, and when they are in legislation, she makes sure that the interest of the FCT is taken into consideration. So, when you mean carrying along, I don’t award contracts. Contracts are being awarded by the Federal Executive Council. If there is anything I think she should add her voice in the National Assembly, as regards the FCT, I will do that”.

At Americas Energy Summit, Ekpo Seeks Investment in Nigeria’s Hydrogen Resources Emmanuel Addeh in Abuja The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has said that Nigeria is open for business and willing to partner foreign investors and countries with the requisite technologies and experience in the production and development of the country's hydrogen resource.

Ekpo stated this in an address yesterday at the Americas Energy Summit and Exhibition in New Orleans, Louisiana, USA, according to a statement by his spokesman, Louis Ibah.

He informed the audience that the federal government was committed

in partnering with genuine investors in unlocking the full potential of the country's natural gas resource for national growth and development.

The "We extend an invitation to international partners, stakeholders, and investors to collaborate with us in unlocking the full potential of our natural gas resources.

“Recognising the importance of innovation and diversification in the energy sector, Nigeria actively explores opportunities in hydrogen production and deployment," Ekpo declared.

He acknowledged hydrogen's transformative potential in reducing carbon emissions and fostering a sustainable energy future and

revealed that the Nigerian government was actively setting up the framework for its development.

"In this pursuit, we are seeking collaborations with countries that have developed expertise and capacity in hydrogen technologies. We believe that international partnerships are essential in fostering knowledge exchange and leveraging collective capabilities for the advancement of hydrogen as a clean and sustainable energy solution," he added.

The conference had as its theme: "The Role of Natural Gas, Liquefied Natural Gas & Hydrogen in Decarbonising Global Energy Markets."

The Nigerian gas minister

described the theme as not just timely, but also critical as the world seeks sustainable solutions to combat the challenges of climate change.

"As we confront the challenges of climate change, international collaboration becomes paramount.

Nigeria is steadfast in its commitment to working closely with global partners to exchange knowledge, share best practices, and collectively address the challenges and opportunities presented by the dynamic energy landscape," he emphasised.

Ekpo said Nigeria has emerged as a key player in the global energy landscape, particularly in the LNG space.

commissioned an integrated power solution to serve some unserved communities in our network, the current solution for which we signed the agreement today, is focused on serving industrials and commercials, thus repositioning AEDC to serve all bands of customers within its network better.

“The two projects also confirm to the world, the readiness of AEDC to enter into complementary partnerships that will add great value to the Nigerian electricity market,” he said.

Essentially, the integrated power solution is expected to yield an estimated 44 per cent reduction in energy costs and a 76 per cent annual decrease in carbon emissions for Wood Factory.

The unique value offering is in furtherance of AEDC’s strategic objective of redefining customers’ experience by providing reliable electricity supply to both existing and new customers, including the unserved and underserved customers.

Also, Chief Executive, Daystar Power, Jasper Graf von Hardenberg, expressed his excitement about the innovative interconnected solar installation.

He said: "Working together with Discos, we can provide reliable and affordable power to Nigerian businesses which will save on energy costs to reinvest in their operations. Our partnership with AEDC supports this position.

“It is just the beginning; we are looking forward to developing more hybrid solar projects for C&I customers in partnership with the likes of AEDC." On his part, Director/General Manager, The Wood Factory, Mohamed Akar, said: "We’re thrilled that we’ll soon be switching to a reliable integrated power solution to power our factory.

“For many years, we’ve operated on diesel generators, which is hardly sustainable or affordable. We believe that the future of our business has become brighter with this new partnership with AEDC and Daystar."

AEDC has been in partnership with the Rocky Mountain Institute (RMI) through which the United States Trade and Development Agency (USTDA) provides funding for feasibility study grant and facilitating the optimization of energy supply through distributed solar energy and grid power.

Blinken to Visit Nigeria, Cote d’Ivoire, Others Michael Olugbode in Abuja and Ugo Aliogo in Lagos The United States of America Secretary of States, Antony Blinken would travel to Nigeria, Cabo Verde, Cote d’Ivoire, and Angola, from January 21st to 26th.

A statement by the US Embassy, explained that throughout the trip, the Secretary would highlight how the United States has accelerated US-Africa partnership since the US-Africa Leaders’ Summit, which includes areas such as climate, food and health security.

The statement also noted that the Secretary of States would emphasise the US future-focused economic partnership, and how the United States was investing in infrastructure in Africa to boost two-way trade, create jobs at home and on the continent, and help Africa compete in the global

marketplace.

According to the statement, “The Secretary will advance security partnerships based on shared values such as respect for human rights, promotion of democracy, and expansion of the rule of law.

"He will reaffirm U.S. commitment to our coastal West African partners through the Strategy to Prevent Conflict and Promote Stability, U.S. partnership with the Economic Community of West African States (ECOWAS) to address regional challenges, and U.S. efforts to support African leadership in de-escalating tensions and adopting diplomatic solutions to the conflict in the eastern Democratic Republic of the Congo. The United States reaffirms its sustained commitment to high-level U.S. engagement with Africa.”

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NEWS

IGHODALO THROWS HAT IN THE RING… L-R: Frontline Governorship aspirant of the Edo State Peoples Democratic Party (PDP), Dr. Asue Ighodalo; Edo South PDP Senatorial Leader, Pa Dickson Imasogie; former Vice Chairman, Oredo LGA, Rev. Mrs. Regina Oviasu, during the official declaration of Ighodalo for governorship at the Edo PDP Secretariat in Benin City, last Wednesday

Ighodalo Pledges to Position Edo to Tap from $17trn Global Idle Capital Governorship aspirant in the 2024 off-season election in Edo and former Chairman of Sterling Bank Plc, Dr. Asue Ighodalo, has promised to position the state to tap from the $17 trillion global idle capital to finance projects if elected as the state’s new governor.

Ighodalo who spoke during his official declaration at the Edo PDP Secretariat in Benin City, the Edo State capital, said he was aspiring to become governor to deliver real solutions that could unleash the promise of a new future for Edo people, having advised the state government in the past in various capacities on how to resolve some of these problems.

“I will position Edo to tap from the over $17 trillion global idle capital. I know where the funds are and I know we can get some of it into the state when I become governor,” he said.

The PDP frontline aspirant also condoled with the government and

people of Oyo State over the Tuesday night explosion in Ibadan, the Oyo State capital, and called for a minute silence in honour of the deceased, while praying that God grants their families the fortitude to bear the loss.

He noted that he is running for governor to deliver real solutions that can unleash the promise of a new future for Edo people, having in the past advised in various capacities on how to resolve some of the problems.

Ighodalo, who until recently was also the chairman of Nigerian Breweries, said: “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 hard-working

Keystone Bank Repositioning for Growth, Says New CEO, Imam The newly appointed Managing Director/Chief Executive Officer of Keystone Bank Limited, Mr. Hassan Imam, has reassured the bank's numerous customers and depositors on the safety of their funds and effective service delivery.

He further emphasised that the bank was strategically repositioning for growth.

The bank's Chief Executive gave the assurance in a statement obtained yesterday.

Imam stated that despite recent leadership change, there was no need for concern, stressing that Keystone Bank was financially stable and fully capable of meeting its obligations.

"As always, Keystone Bank remains unwavering in its dedication to the safety of its customers' deposits, financial well-being, and upholding the trust placed in us by our stakeholders.

“The bank remains very strong and reliable. We have no problem meeting our obligations to corresponding banks, depositors, customers and other financial institutions.

“We understand the importance of transparency in financial relationships, and we remain steadfast in our mission to provide you with a secure and reliable banking experience.

“We have started repositioning the bank to capitalise on emerging economic opportunities and remain optimistic about the future.

“Our future will be hinged on strong corporate governance and fortified by resilient business operations, we are committed to building and enhancing a sustainable enterprise that will be a source of pride for every stakeholder."

He added: “Under my leadership, our strategic focus will centre on embedding disciplined cost management and leveraging synergies across business segments and functions to bolster profitability.

"This commitment extends to delivering value to all stakeholders, customers, business partners, and employees.

“Therefore, I invite all our stakeholders, customers, and partners to anticipate a future marked by innovation, resilience, and strategic developments that will further strengthen the bank.

"Our dedication to enhancing your banking experience, and these changes are aimed at delivering even more value and convenience."

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

men and women of this state, and encourage entrepreneurship and innovation.”

While reassuring that the education sector would receive top priority, Ighodalo noted that he believes that education is the gateway to opportunities.

“So, we will 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 a ladder to opportunity. We will make Edo State’s educational system our key to ending generational poverty, for good, in our great State,” he said.

Ighodalo, who is the former chairman of the Alaghodaro Economic Summit, noted that with his 16 years

of involvement in the governance of the state at the advisory level, he had identified areas of focus to achieve success with governance.

He stated: “These are the reasons I am here today, with the greatest humility, to formally declare my intention to run for the office of the governor of Edo state on the platform of our great party, PDP. “Let us shun the narratives that

seek to divide us, and come together, as one, to build the bridges that will lead us to prosperity. Let us strive to be the best, because only the best is good enough for us all.

“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” the governorship aspirant added.

Otti Inaugurates Abia Economic Advisory Council, Names Oteh, Sanusi, Others Members Emmanuel Ugwu-Nwogo in Umuahia Abia State gGovernor, Mr. Alex Otti, yesterday inaugurated the Abia Global Economic Advisory Council (AGEAC) to further give life to his vision of transforming the state to "a leading global investment destination."

The Council is composed of "world beaters, first class professionals, accomplished entrepreneurs and enthusiastic global citizens" who have all accepted to serve in the "robust team" of experts.

The 19-member body is chaired

by Dr. Arunma Oteh with HRH Khalifa Sanusi Lamido Sanusi and Bolaji Balogun, a financial market guru, serving as Co-chairs.

The Director General of the World Trade Organisation(WTO), Dr Ngozi Okonjo-Iweala and the President of Afreximbank, Benedict Oramah were named honorary advisors.

Victor Onyenkpa and Ifueko

Omogui Okauru, who had served in Otti's transition council as Chair and Co-Chair to produce the strategy document that the government has been working with were included in the new team.

In his address, entitled "A new frontier of excellence: From vision to execution," Otti underscored the importance of the AGEAC to his government, saying that he was determined to roll back the carpet of stagnation.

According to him, the calibre of people in the membership of AGEAC "has already sent a strong signal to interested observers that Abia is poised to become the next big thing".

"Our vision (is) to turn our State into a favourite destination for all categories of investments leveraging on the many opportunities that abound in our land," he said.

The Abia governor listed the advantages the state has to include agro-friendly environment, steady

supply of skilled and unskilled labour, tax friendly regime, nearness to regional and global markets".

He also named other selling points of Abia as, "a business-supportive government and abundance of varieties of in-demand raw materials" hence the state is ready to welcome investors.

Otti noted that over the years the people of Abia have been hungry and open for development but sadly there was no political leadership with the will to actualise the yearnings.

However, the former bank boss declared that with his administration "a new dawn is before us" in Abia, adding that God's own state was on the way to regain its lost glory.

"As a government, we are committed to reclaiming the missed opportunities of yesterday while positioning our State strategically for the promises of the future.

"We are not just determined to set new standards in leadership, we

want to demonstrate that like our peers in Asia and in other parts of the world, we have what it takes to do great things," he assured Abians.

Some members of the Advisory Council in their respective remarks expressed the need for the government to take and implement the advice that would be dished out.

Oteh told the Abia governor that assembling the team would not just be giving advice but would also hold him and members of his government accountable to Abia people and the global community.

Balogun in his remarks said he accepted to serve in AGEAC because of his belief that, "if Abia succeeds, Nigeria succeeds" given that the state has all it takes to play a significant part in Nigeria's quest for development.

Sanusi also lent his voice in urging Otti to be ready to implement the advice that would be coming from the team he has assembled to assist him transform Abia State.

Alake, Nasarawa Governor Strengthen Collaboration on Mining Sector Development Folalumi Alaran in Abuja The Minister of Solid Minerals Development, Dele Alake, has described Nasarawa State as a worthy partner in the drive to develop mineral resources in the state and Nigeria at large.

Speaking while receiving Nasarawa State Governor, Abdullahi Sule, on Thursday, in his office, Alake stated that the governor has provided immense support for the Lithium factory undergoing construction in Nasarawa State, emphasizing that the state has led the way in fostering partnership

with the federal government for solid minerals development.

“The governor has been very supportive of the solid minerals sector, not because his state is a solid minerals state, but because he's an engineer; he is a technical person.

He understands the dynamics of the sector, and I commend his efforts”, Alake emphasized.

The governor, in his remarks, lauded the minister for leading the charge for the resurgence of the mining sector and facilitating the state’s acquisition of gold, tin, and lithium mining licenses.

He noted that his visit was to brief his host on the on-going construction of the gigantic lithium factory and also compare notes on what the ministry is doing to secure mining sites and develop the mining sector in the country.

“I want to show great appreciation to the Honourable Minister because recently, Nasarawa State obtained three licenses. One is an area where there is a possibility of gold deposit; another area where there is lithium deposit, and the third site where there is a tin deposit.

“I come from the private sector, and

I understand how the public sector doesn’t become so efficient in the management of this venture, so we have Public Private Partnerships (PPP) arrangements. Which implies we are going to have partners and we have some level of equity participation that will ensure the state gets maximum benefits”, Gov. Sule added.

In addition, Dr. Alake revealed that discussions also touched on the unfortunate Ibadan explosion incident stressing that while investigation is still ongoing, the ministry is very circumspect in laying a cause at a very specific doorstep.

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NEWS

KANO APC DELEGATES VISIT PRESIDENT TINUBU...

L - R : Deputy Senate President, Jubril Barau; APC National Chairman, Abdullahi Ganduje; President Bola Ahmed Tinubu; Chief of Staff to the President, Femi Gbajabiamila and APC Gubernatorial candidate, Yusuf Gawuna during the Kano delegate audience with the president at the Presidential Villa Abuja.... yesterday GODWIN OMOIGUI

Abuja Court Varies Emefiele's Bail to Extend Travel Outside Abuja as FG Increases Charge to 20-count Alex Enumah in Abuja Justice Hamza Muazu of a High Court of the Federal Capital Territory (FCT), in Maitama, Abuja yesterday varied the bail condition granted the immediate past Governor of the Central Bank of Nigeria (CBN) Godwin Ifeanyi Emefiele.

The court had in last November granted Emefiele bail in the sum of N300million with two sureties in like sum.

As part of conditions attached to the bail, Justice Muazu, who ordered Emefiele to deposit his travel documents with the court said the former CBN boss must remain in Abuja during the period of the trial.

However, at yesterday's proceedings, counsel to Emefiele, Mathew Burkaa SAN, informed the court that the defendant filed a motion dated January 10, seeking variation of the bail condition to enable him

travel within the country.

He urged the court to varied the condition for his client.

Responding, Mr Rotimi Oyedepo, SAN, who represented the Economic and Financial Crimes Commission (EFCC), said he was not opposed to the granting of the application, adding that the court should ensure that the defendant remains within the country while his trial lasts.

He further asked that the defence team write an undertaking that their client will remain in the country.

Subsequently Justice Muazu granted the request and ordered that Emefiele should remain within Nigeria for the period of his trial.

Meanwhile, Oyedepo informed the court that the prosecution, Economic and Financial Crimes Commission (EFCC), had on Wednesday filed an amended charge against Emefiele and urges that the defendant be allowed to take his please for the

NCC Puts Globacom’s Disconnection on Hold, Offers 21 Days Window for Reconciliation Emma Okonji

The Nigerian Communications Commission (NCC) has said Globacom’s subscribers will no longer be disconnected by MTN, following agreement reached by both telecoms operators to settle their interconnect indebtedness.

NCC had last week, issued a statement, allowing MTN to partially disconnect Globacom’s subscribers from receiving calls generated from the MTN network, until Globacom settles the interconnect debt it is owing MTN. NCC had said the directive to partially disconnect Globacom’s subscribers would take effect from Thursday January 18, 2024, but rescinded its decision in a statement it issued yesterday, stopping MTN from disconnecting Globacom’s subscribers.

According to NCC’s statement, signed by its Director of Public Affairs, Mr. Reuben Muoaka, “On January 8, 2024 the Nigerian Communications Commission published a Pre-Disconnection Notice informing subscribers of the approval granted to MTN Nigerian Communications Plc. (MTN) to commence the phased disconnection of Globacom Limited (Glo) with effect from January 18, 2024 due to long-standing interconnection debt dispute

between the parties. In granting the approval, the commission was deeply conscious of the potential impacts of the decision on consumers and therefore continued to engage both parties to facilitate a resolution which prioritizes and protects consumer interest and the seamless operation of the national telecoms network.

“The commission is pleased to announce that the parties have now reached an agreement to resolve all outstanding issues between them.

For this reason, and in exercise of its regulatory powers in that regard, the commission has put the phased disconnection on hold for a period of 21 (twenty-one) days from today, 17 January, 2024.”

According to NCC, the commission expects MTN and Glo to resolve all outstanding issues within the 21-day period, as the commission insists that interconnect debts must be settled by all operating companies as a necessary component towards compliance with regulatory obligations of all licensees.

NCC further said it remained obligatory that Mobile Network Operators (MNOs) and other licensees in the telecom industry would keep to the terms and conditions of their licenses, especially as contained in their interconnection agreements.

new charge.

Burkaa, however, told the court that the defence was served the new charge on Wednesday and needed time to study it.

The court accordingly adjourned sitting till January 19 for the new charge to be taken.

Emefiele was arraigned before the court on November 17, 2023 a six-count charge bordering on conferring advantage on a female staff member of CBN, contrary to the provision of Section 19 of the Corrupt Practices and Other Related Offences Act, 2000.

In the charge marked CR/577/2023, Emefiele was accused of using his position as CBN governor to award sux different contracts to on Sa'adatu Ramalan Yero, an CBN staff member, between2018 and 2020 to the tune of N1,210,600,000.

The procurement contracts were awarded to April 16 Investment Ltd, in which the said Sa'adatu Ramalan Yero is a director.

Emefiele, however, pleaded not guilty to the charge.

Meanwhile, the federal government has amended the charge against the former CBN governor from six to 20.

Initially the federal government

had filed a 19 count charge against Emefiele, bordering on N6.9 billion procurement fraud but later arraigned him on a six count charge bordering on N1.2 billion.

Meanwhile, Emefiele in the new charge is alleged to have obtained the sum of $6.2 million by falsely representing the Secretary to the Government of the Federation.

The government said the offence was contrary to section 1(1) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and punishable under section 1(3) of the same Act. The charge read, "That you, Godwin Ifeanyi Emefiele male, adult, and Odoh, Eric Ocheme (Still at large) on or about February 8, 2023 in Abuja, within the jurisdiction of this Honourable Court knowingly obtained by false pretence, the sum of Six Million, Two Hundred and Thirty Thousand United State Dollar ($6,230,000.00) by falsely representing that the Secretary to the Government of the Federation vide a letter dated 26th January, 2023 with Ref No. SGF.43/L.01/201 requested the Central Bank of Nigeria to provide a contingent logistic advance in the sum of $6,230,000.00 "in line

with Mr. President's directive" which representation you knew to be false and you thereby committed an offence."

He was also accused of conniving with one Eric Ocheme who has been at large to commit forgery.

The government said the offence was contrary to section 96 (1) and punishable under section 364 of the Penal Code Law, Cap 89 Laws Federation, 1990.

It read, "That you, Godwin Ifeanyi Emefiele male, adult, and Odoh, Eric Ocheme (Still at large) sometime in January 2023 in Abuja, within the jurisdiction of this Honourable Court agreed amongst yourselves to cause to be done an illegal act to wit: forgery of a document titled: RE: PRESIDENTIAL DIRECTIVE ON FOREIGN ELECTION OBSERVER MISSIONS dated 26 January 2023 with Ref No. SGF.43/L.01/201 and you thereby committed an offence."

Emefiele was also accused of conferring corrupt advantage on his wife Omoile Margret and brother In-law Omoile Macombo by awarding a contract for the renovation of a portion of the CBN Governor's residence in Lagos to the tune of N99.8m.

The government said the offence was contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000.

The charge read, "That you, Godwin Ifeanyi Emefiele, male, adult, sometime in March 2020 within the jurisdiction of this Honourable Court did use your position as Governor of the Central Bank of Nigeria to confer a corrupt advantage on your wife, Omoile Margret, and brother-in-law Omoile Macombo by awarding a contract for the external renovation of the CBN Governor's Residence lying, being and situate at No. 2 Glover Road, Ikoyi, Lagos in the sum of 99,826,452.47 to Messrs. Architekon Nigeria Limited, a company wherein the duo are directors and majority shareholders and you thereby committed an offence. " Emefiele's counsel, Mathew Bukka, SAN, pleaded with the court for time, adding that the amended charge was served on them on Wednesday.

The trial judge, Justice Hamza Muazu, adjourned the matter till Friday January 19, for fresh plea of Emefiele to be taken in the new charges.

Fagbemi Enlists Justice Ministry's Staff into Tinubu's Performance Contract

Alex Enumah in Abuja

The Attorney-General of the Federation ( AGF) and Minister of Justice, Prince Lateef Fagbemi, has sought the buy-in of staff of the ministry as well as agencies and parastatals under him, towards achieving the performance agreement signed between ministers and President Bola Tinubu.

Fagbemi, who told the staff that their performance as well as successes in assigned tasks go a long way in determining his success, also reminded them of the key role the ministry play in the attainment of the goals and objectives of other sectors in the political/ socioeconomic environment of the country.

He gave the charge in Abuja, while declaring open a one-day Retreat of Heads of Agencies/ Parastatals under the Supervision of the Ministry and Select Directors.

"You are all aware that following a Presidential Retreat on

November 3, 2023, the President signed a Performance Bond with Cabinet Ministers and Permanent Secretaries, which will serve as a scorecard for Ministries.

"The Solicitor General of the Federation and Permanent Secretary and myself, signed a Performance Contract with the President, promising to ensure the performance of the Ministerial Deliverables assigned to the Ministry.

"The Sector Plan contains 15 Ministerial Deliverables; 49 Key Performance Indicators (KPIs); Base lines and Targets.

You may wish to note that this Performance Bond comes with initiatives, deliverables, Key Performance Indicators, timelines and targets, which this sector must unconditionally achieve.

"One of the Key Performance Indicators of this meeting is to cascade the signed bond to the Ministry's Management and Chief Executive Officers of the Agencies.

"Therefore, it is imperative that we all come together to critically

understand this performance bond and the variables and be well apprised on what is expected of us to achieve as a Ministry or Agency," Fagbemi said.

Th AGF disclosed that out of the eight areas of "Priorities" and "Focus" of the Renewed Hope Agenda, the Federal Ministry of Justice by virtue of its mandate speaks to four which are; Priority 3 (Economic growth and Job Creation), Priority 5 (Inclusivity; Drawing on all Skills Base); Priority 6 (Security); Priority 7 (Fairness and Rule of Law); and Priority 8 (Anti-Corruption Stance).

He also added that the Ministry also speaks to the eighth Focus Area of Government, which is Improved Governance for effective Service Delivery.

While stressing that "the Justice sector is pivotal to the attainment of the objectives of other sectors, as well as attaining the universal role of the law as a veritable enabler for development," Fagbemi harped on the need to urgently "reposition the Justice

sector for optimal performance and enhanced productivity, in line with the Renewed Hope Agenda."

He noted that as part of efforts to facilitate delivery of their mandates, the federal government was committed to building a civil service that was focused on improved staff competences and skills; improved productivity and human resource administration; result-based performance and meritocratic environment; and a value driven and digitally transformed civil service.

"In furtherance of the President’s commitment to Performance measurement and reporting therefore, it is essential that we put in our best in ensuring the Justice Sector Plan and the mandates of our various Agencies/ Parastatals are performed to the optimum.

"On our part, the Ministry has encapsulated the Ministerial Deliverables as key priorities of the Goals in its Strategic Plan 2023-2027. This we believe will enhance the implementation of the assigned Sector Plan," he said.

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NEWS

SIGNING OF TRIPARTITE AGREEMENT TO DELIVER UNINTERRUPTED POWER...

L-R: Mr. Hussein Akar, Managing Director The Wood Factory, Abuja; Mr. Victor T. Ezenwoko, Country Head Nigeria and Ghana, Daystar; Mr. Christopher Ezeafulukwe, MD/CEO Abuja Electricity Distribution Plc. at the signing of a tripartite agreement to deliver Uninterrupted Inter-Connected power solution for The Wood Factory in Abuja, yesterday

Aondoakaa: Praising Tinubu for Not Interfering in Supreme Court Judgements a Disservice Wale Igbintade Former Attorney General of the Federation and Minister of Justice, Chief Michael Aondoakaa (SAN) yesterday cautioned those thanking President Bola Tinubu for not interfering in the Supreme Court judgement in Kano and others to desist.

According to him, such insinuation was capable of eroding the confidence of the electorate in the judiciary since it was purely a judicial matter and Tinubu could never have interfered as a true democrat.

Speaking during an interview

on the programme, News Day on ARISE Television, Aondoakaa advised the National Judicial Council (NJC) to urgently take steps to bring judges to adhere to precedence set by the Supreme Court to stem the tide of miscarriage of justice.

“Politicians simply do not like giving credit to whom it's due. Dragging Mr. President into a purely judicial matter is unfortunate. The president is not supposed to interfere in judicial matters especially as it relates to elections. As a true democrat who fought for democracy even during

Atiku Hails Court Verdict Voiding NBC's Power to Fine Broadcast Stations Says it will enhance free press, democracy Chuks Okocha in Abuja Former Vice President of Nigeria, Atiku Abubakar, has hailed the verdict of the Federal High Court Court, on Wednesday, declaring null and void the actions of National Broadcasting Commission in imposing fines on broadcast stations in the country.

Atiku, in a press statement by his media office on Thursday, said that the ruling of the court is an enhancement of the constitutionally guaranteed rights to free speech.

Atiku said that the ruling of the Federal High Court on the dictatorial practices by the NBC will ensure that the media in Nigeria is not gagged and that the citizens can enjoy their rights to freedom of expression.

His words: “I have read reports about the judgment by a Federal High Court presided over by the Honourable

Justice Rita Ofili-Ajumogobia, concerning the propriety of the NBC issuing fines to broadcast stations upon their editorial contents.

“I am happy to announce my support for the judgement of the court. I am even happier that the said judgement will further boost the ethos of democratic norms in our body politics.

“While I commend the court for this bold decision, it is adequate that we all recognize the courage of the Media Rights Agenda (MRA) for having tested our laws on this draconian practice by the regulatory body.”

It will be recalled that the National Broadcasting Commission had imposed a fine of N5 million on some media outlets on account of a documentary that pictures the parlous state of insecurity in Nigeria in the year 2022.

the military era, Tinubu could never have thought of interfering.

"Those thanking the president for not interfering are eroding people's confidence in the judiciary.

They are doing the president disservice by implying that he chooses those to support. “ Nigerians should rather thank the justices of Supreme Court for acting promptly and preventing Nigeria from sliding into a one party state.

The justices of the Supreme Court are men of integrity

who cannot be compromised,” he said.

In the case of Plateau State where some People Democratic Party (PDP) lawmakers lost their seats to the All Progressives Congress (APC), the former AGF opined that "any judgement given with lack of jurisdiction is in nullity.

He added: "The court that gave that judgment has inherent jurisdiction to set aside the judgment.

“Since the Supreme Court has ruled that the election

tribunal lacked jurisdiction to determine the validity of the primary elections conducted by the Peoples Democratic Party (PDP), the lawmakers should approach the Appeal Court, Plateau Division with the Judgement of the Supreme Court and have the judgment set aside.

"Since the tribunal had no jurisdiction, the Appeal Court also had no jurisdiction to entertain the matter. The lawmakers can therefore file an application at the Appeal Court except for the time

bound nature of electoral matters," he added.

On the seeming inconsistency in judgments and disregard for judicial precedents by some Appeal Court justices, the legal luminary advocated "judicial education”.

He stated that this can be done through seminars and workshops. He also advocated “judicial discipline” as a tool for harmonising judgements of the different divisions of the Appeal Court and strict adherence to judicial precedents.

Rights Violation: Court Orders Police to Pay N50m Damages to Abiola’s Wife To tender public apology in two national newspapers

Wale Igbintade Justice Modupe Osho-Adebiyi of the Federal Capital Territory (FCT), Gudu, in Apo, Abuja, has ordered the Inspector General of Police (IGP) to pay N50 million damages to Prof. Zainab Duke Abiola, wife of the acclaimed winner of the June 12, 1993 presidential election, the late Chief MKO Abiola, for violation of her fundamental human rights.

Zainab Abiola had filed a fundamental human rights enforcement suit marked FCT/ HC/CV/2431/2023 against the IGP and named the Nigeria Police Force, Inspector Teju Moses and Engineer Ibrahim (son of former IGP Usman Alkali Baba) as co defendants to the suit.

The applicant, (Zainab Abiola) had in her statement of claim, demanded for N500 million damages from the Defendants for the infringement on her rights.

Mrs. Abiola had alleged

amongst others that she was arrested in her nightgown, tortured and detained by officers and men of the IGP. She added that her detention between September 20 and September 23, 2022, without charging her to court was a violation of her rights, stating that the action of the defendants was unlawful and unconstitutional.

But the police and other defendants denied the allegations, and joined issues with Mrs Abiola.

The defendants further claimed that they did not know Mrs. Abiola while the plaintiff produced evidence before the court that she was appointed by the Police as the Chief Legal Consultant (CLC).

Delivering her judgement after listening to the parties, Justice Modupe Osho-Adebiyi held that the detention of Mrs. Abiola by the Defendants without arraigning her in court of competent jurisdiction was

a gross violation of her right to personal liberty.

The judge also directed the IGP and other three defendants to tender a public apology to Mrs. Abiola in two of the national newspapers in pursuance of Section 35 (6) of the 1999 Constitution (as amended).

In the certified true copy of Enrolled Order of the judgement dated November 29, 2023, with the official stamp on December 19, 2023, obtained yesterday, Justice Osho-Adebiyi held, “ Upon the judgement delivered by this Honourable Court on 29th day of November, 2023, it is hereby ordered as follows: "It is hereby declared that the detention of the applicant from the 20th day of September, 2022 to 23rd September, 2022, without arraigning her before a court of competent jurisdiction is a violation of the applicant's right to personal liberty under

section 35 of the constitution and is therefore unlawful and unconstitutional.

"It is further declared that the arrest of the applicant by the Defendants in her nightgown without giving her the opportunity to dress decently is an Infringement of her right to personal dignity it is more debasing and a further Infringement of her right to personal dignity when applicant was paraded in her nightgown. In the circumstances, the sum of N50,000,000.00 (Fifty Million Naira) only is awarded to the applicant as compensation against the 1', 2., and 4" respondents jointly.

"The respondents are hereby ordered to tender a public apology to the applicant in two of the National Daily e v ' Newspapers in pursuance of the provisions of section 35 (6) I of the constitution of the Federal Republic of Nigeria, 1999 (as amended).”

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NEWS

OPENING OF EMEKA AND BUNMI ANYAOKU FOUNDATION CENTRE IN OBOSI… L-R: Obi of Onitsha Kingdom, Igwe Alfred Nnaemeka Achebe; former Governor of Anambra State, Mr. Peter Obi; former Secretary-general of Commonwealth, Chief Emeka Anyaoku; his wife, Bunmi Anyaoku; and Bishop of the Niger, Church of Nigeria, Most Reverend Owen Nwokolo, during the opening of Emeka and Bunmi Anyaoku Foundation Centre in Obosi, Anambra State, to mark Anyaoku's 91 birthday... yesterday

Anyaoku: Nigeria Needs to Manage Its Diversity Well to Remain United Moghalu greets ex-Commonwealth Scribe at 91 Emmanuel Addeh in Abuja and David-Chyddy Eleke in Awka A former Secretary General of the Commonwealth, Chief Emeka Anyaoku, yesterday said that Nigeria can only remain one if it manages its diversity well.

Anyaoku spoke during the commissioning of the Emeka and Bunmi Anyaoku Foundation Centre in Obosi, Idemili North Local Government Area of Anambra State. The commissioning of the centre also coincided with the 91st birthday celebration of the former Commonwealth scribe.

Addressing invitees, Anyaoku said: "At 80 years, you are considered to have entered the departure lounge. your relatives can only pray that your flight be delayed well enough, but I'm fortunate to have made 90 and today 91 years. At 91, I have been able to retain all my faculties.

They say it is as sharp as sword, but I'm not so sure.

"The commissioning of this centre is the fulfilment of a dream which I and my wife have had for a long time. We have always wanted to support education, and by opening

this library and museum.

“We hope that it will help both the old and young to acquire reading culture. The attributes of Nigerians that worry me is the absence of reading culture.

"My wife and I have also wished to have a museum, a place where visitors can come and learn about the memorabilia that we have collect from across the Commonwealth of nations of 54 countries located in the major continents of the world.”

According to him, one of the major issues that the centre will be promoting is the study and management of diversity in a pluralistic country like Nigeria.

He noted that some countries like Switzerland, Canada, India and other nations have succeeded because they have deliberately addressed the challenges of how to manage diversity in their countries.

"I hope that this centre will be a hub of collaboration with universities, schools, institutes to promote studies in various areas, and it has enough materials to help leaders address the challenges posed by our diversity," Anyaoku said.

Speaking about the reason for

Nebo Calls for Review of the Tertiary Institutions’ Curriculum

By David-Chyddy Eleke in Awka

Former Minister of Power, and former vice Chancellor of University of Nigeria, Nsukka, Prof. Chinedu Nebo, has called for a review of the curriculum of tertiary institutions in Nigeria.

He advocated that the new curriculum should make skill acquisition compulsory for a graduate of any higher institution.

Nebo stated this at Federal Polytechnic, Oko, Anambra State, while delivering the 19th Convocation Lecture of the institution, yesterday.

Speaking on the theme, “Skills/ Entrepreneurship for Sustainable Development,” he lamented the lack of prioritisation of skills and entrepreneurship training in tertiary institutions, and insisted that for the country to fight the prevailing joblessness among university graduates, there was need to make sure that every graduate acquired a particular skill that would make him or her self-employable.

He said: "This ugly situation was borne out of educational policies that started looking down on craftsmanship, technical skills,

while preferring paper graduates from universities.

"Nigeria decapitated their technological advancements by throwing the City and Guilds certificate away, and, killing the original intent of the 6-3-3-4 education systems.

"Nigeria is greatly endowed with natural resources such that the country could pass as the most natural resource-endowed in the world. But it is sad that due to corruption and mismanagement, the country is like the world's prodigal son.

"Politics has become the most viable industry in the country. The country should pursue skills and entrepreneurship training for the citizens so as not only to reverse the stunted development but to also engender Sustainable development."

Chairman of the convocation lecture, a former Rector of the Federal Polytechnic, Nekede, Imo State, Dr. Michael Arimanwa, stated that the nation's development can only take place if emphasis is shifted from giving political position a priority to empowering the citizens to be productive and self-dependent.

locating the centre in Obosi, and how it was funded, Anyaoku said: "All my savings and gratuity of 34 years at the Commonwealth were ploughed into this foundation. We are hoping that in future, the foundation will have funds to sustain it and also ita activities ."

Anambra State Governor, Prof Chukwuma Soludo, who was also at the event praised Anyaoku for giving back to the society, saying that he remains a man who is worthy of emulation.

Earlier, a former Aviation Minister, Mr Osita Chidoka, presented a birthday gift to Anyaoku on behalf of Obosi title chiefs, stressing that Obosi people were proud of him.

The event was attended by several dignitaries, including a former governor of Anambra State, and presidential candidate of the Labour Party (LP) in the 2023 general elections, Mr Peter Obi. Meanwhile, a former Deputy Governor of the Central Bank of Nigeria (CBN), Prof Kingsley

Moghalu, in a statement described Anyaoku as one of Africa’s most distinguished personages of the 20th and 21st centuries.

According to him, the nonagenarian has played key leadership and behind-the-scenes roles in resolving conflicts, promoting democracy, and advancing economic and social development in the 56 countries of the Commonwealth in Africa, Asia, Latin America and the Caribbean, North America, Australia, and New Zealand.

While also congratulating his wife, Bunmi, Moghalu said Anyaoku: “Represents the best of a tragically vanishing breed in our country – a gentleman of honour, a man of strong character and values, a man who’s impact in the world and at home was and remains an inspiration to millions including my humble self.” “ I am fortunate to have benefited frequently, from his wise counsel and encouragement, in my own endeavours internationally and at home in Nigeria,” Moghalu added.

FAAN: We’re Relocating Our Headquarters to Lagos to Halt Rip-off on Public Purse Says moving to Abuja was ill-advised Keyamo promises to build befitting offices for agency in both locations

Chinedu Eze The Federal Airports Authority of Nigeria (FAAN), last night, said it was relocating its headquarters from Abuja back to Lagos to halt to stop waste of public resources and rip-off on the public purse.

The agency, which confirmed the internal memo from the Managing Director of the agency, Mrs. Olubumi Kuku, to the Director of Human Resources and Administration to provide the implication of decision, said moving to Abuja was ill-advised in the first place.

But the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN, has promised to build befitting offices in both Lagos and Abuja for FAAN. In a statement by the Director,

Public Affairs and Consumer Protection, Mrs. Obiageli Orah, FAAN confirmed that Keyamo had directed that the agency should move its headquarters back to Lagos, “where it has operated for decades until recently.”

FAAN said after wide consultations with stakeholders in the industry, which also involved the unions, it was agreed that the relocation was in the best interest of the Authority and the country for now.

The agency gave several reasons for the relocation, which included the fact that those affected by the decision to move the headquarters to Abuja had since returned to Lagos.

This, he said, was because there was no office space for them in Abuja, and that it was ill-advised in the first place to move the headquarters to

Abuja, when there was no single FAAN building in the federal capital territory to accommodate all of them at once.

“Having returned to Lagos, the Authority would be liable to pay them DTA (Duty Tour Allowance) because technically they are working out of station as their official posting is to Abuja. The Minister has decided to stop this waste of public resources and rip-off on the public purse.

“The other option open to the Authority was abandon the old FAAN building in Lagos to rot away and to use its scarce resources to rent an office space in Abuja for millions of naira of public money, when in actual fact, more than 60 percent of its activities are in Lagos, given the huge passenger volume of the Lagos airports. The stakeholders and the

minister decided against that and to save the country this waste,” the statement explained.

It also stated that Keyamo had rolled out plans to get concessionaires to build befitting offices for the Authority in Lagos and Abuja and until that is done, the Authority would continue to manage its old building in Lagos that could accommodate all its directors and senior officials for now.

The statement read: “Abuja continues to have full operational offices and the Authority has not scaled down operations in Abuja one bit. It is just the technical decision of where the Authority has its ‘corporate headquarters’ that has been taken without affecting the structure of operations as they are for now in both cities.

Dorman Long Lauds NCDMB’s Contributions to Local Content Growth Olusegun Samuel in Yenagoa

The leadership of Dorman Long Engineering Limited has applauded the Nigerian Content Development and Monitoring Board (NCDMB) for its steadfast commitment to the growth of local content, particularly for the support it lends to the fabrication subsector of the Nigerian oil and gas industry.

A statement from the board said the firm gave the commendation on Wednesday during a courtesy visit to the Executive Secretary of the NCDMB, Felix Ogbe at the Nigerian Content Tower, Yenagoa, Bayelsa State.

The Dorman Long Engineering team was led by the company’s chairman, Dr. Timi Austen-Peters and their mission was to announce plans to celebrate the company’s 75th anniversary in Nigeria.

In his remarks, Austen-Peters underscored NCDMB’s significant contributions to the success of Dorman Long and other fabrication firms, noting that the board ensures that international and indigenous operating oil and gas companies patronise local service companies.

He acknowledged that Dorman Long is one of the biggest beneficiaries of local content implementation in the oil and gas industry and charged

the board to continue to deliver on its mandate.

The Dorman Long’s chairman hinted that the position of the NCDMB executive secretary is very pivotal to Nigeria’s overall economic development, assuring him of the company’s support towards accomplishing his goals in office.

Speaking on the company’s 75th anniversary, he announced that the celebration would be kick-started at the forthcoming 2024 Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), scheduled to be held between February 13-15, 2024 in Lagos.

He expressed delight that the

company had continued to thrive despite the challenging operating environment and made contributions to the nation’s economy.

He recalled that the company had undergone mergers and acquisitions and is currently operating in the telecommunication and agricultural sectors, in addition to the oil and gas industry.

In his comments, the Managing Director, Dorman Long Engineering, Chris Ijeli traced the history of the company from 1948, noting that the firm had delivered several iconic projects, including railway projects, UAC and PZ warehouses, and the first Niger Bridge.

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T H I S D AY ˾ FRIDAY JANUARY 19, 2024

POLITICS

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

Bisi Akande: A Man Whose Integrity Became Collateral for Struggle Bimbo Daramola writes about the pivotal role played by the pioneer National Chairman of the All Progressives Congress, Chief Bisi Abdulkareem Akande, in ensuring that the Fourth Republic stand on a strong footing, as he celebrated his 85th birthday this week.

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verytime I see Baba Akande these days, I am reminded of the Iroko tree in the forest, and the Oasis in the Desert.

Baba Akande also well known as” Baba awon omo ke ke ke (the father of children) is a man in his own class among human beings and dare I say among political class, though may not be physically tall, but in character, he towers dizzyingly over almost all the modern day politicians.

Baba is a sharp cut and divide, spartan and austere in nature compared to many in the political class today, clearly a distinctive and distinguished representation of the old stock, principled, bold, unwavering, unshaken and unruffled by situations and circumstances.

A principled fighter backed by conviction.

I have mental recollections of Baba Akande as a young boy from the days of my budding interest in political affairs, when politics was driven by purity of intentions and purpose as exemplified by the likes of Papa Obafemi Awolowo, Chief Ajibola Ige, Chief Michael Adekunle Ajasin, Dr Ambrose Ali, all of them apart from Papa Awolowo were governors of the Unity Party of Nigeria.

Back then these calibre of politicians lived by the unwritten rule of putting the people first, to be obedient if not subservient to the code of conduct that is steeply rooted in a life of modesty and moderation not fanfare and garulity of modern day emperors that some personalities in power now exemplify.

That was not what the likes of Baba Akande exemplified while in power.

Indeed they abhorred ostentation and lousy use and display of power. They earned their veneration because the power they wielded was real people driven not imposed, snatched or bought!

In those good old days (shamefully enough that we refer to those days most affectionately and nostalgically) because of the abuses of today, since today that ordinarily by progression should be better is not, but because power in the hands of those without depth of reason, care and concern has re-interpreted today’s politics and power in many ways that will make the likes of Baba Akande cringe and break out in goose bumps.

It was a typical Baba Akande who in His spartan nature and view of life and subscriber to a life of accountability that would rather choose to be impeached than to “settle” lawmakers to pass budget .. that can only be a Baba Akande.

Only a Baba Akande would leave government and still remain very modest without illicitly acquired possessions, acquired at the expense of the people’s well being but holding aloft the banner of good name, sterling public service record and profile of sparkling accountability and probity.

When will we have more Abdulkareem Adebisi Akande?

The stock is greatly depleted and their memories of unblemished public service are fast receding,and fading into distant horizon.

It is made worse because we are a nation of fleeting emphasis and values.

Growing up much later, I recall clearly the roles played by this ageing man, physically, but whose convictions have also been strengthened by the age and as the years went by.

Baba Akande was like the spinal chord that strengthened the opposition in the days of our struggles, a contented man not only in terms of material worth but in terms of political adventure.

Left to Baba Akande, the politics of the South West most likely would have remained politics of the South west, in literal sense because Baba Akande is not that politically adventurous, rather would like to prevent ideological stain and contamination, he believes that undue alliances could come with contagious realities.

Baba Akande believes that undue alliances would imply a compromise of ideals and ideology that he has subscribed to over the

of Lagos, now literally Asiwaju of Nigeria, President Bola Ahmed Tinubu.

This is the synoptic trajectory from the fall of Alliance for Democracy controlled states, where all the South West states except Lagos were lost to the People’s Democratic Party, then portrayed and treated as a party of vermins and undying voracious if not rapacious liberals if not jackals.

The attitude of the Alliance for Democracy then was isolationist and puritanical.

So after the reality of the loss of States in the South west by the rage of the tiger, the PDP, driven

by President Olusegun Obasanjo, hit home, it took the resilience of Asiwaju Tinubu, today’s President to start the fight-back, it was war like!

Not a piece of cheese cake, it was bloody and bloodied, limbs and lives were lost. Thank God some of us are alive to tell the story but with deference to all the fallen heroes of those days of struggle.

We soldiered on because it was like movement, the first goal was to get back the states of the South west away from “ultra conservatives party” [PDP] as it was so portrayed then, back to the camp and safe embrace of the “ ultra progressives”.

-Daramola is former member of the House of Representatives. #bimboEkiti, #nitoriojoolawa years, so he was ever cautious, but his implicit trust and believe in a younger more politically adventurous, very daring political maestro who

also has the means convinced Baba Akande to allow the expansionist vision driven by no other than the Jagaban Borgu, the Asiwaju

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

Edo 2024: Umakhihe, the Incurable Optimist Segun James writes on the antecedent of the former permanent secretary in the federal civil service, Ernest Afolabi Umakhihe, who is gunning for the 2024 governorship seat in Edo state.

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he clearest sign yet of the recovery of new vitality in the race for the governorship seat in Edo State after eight years of Governor Godwin Obaseki is the large number of aspirants vieing for the gubernatorial ticket of the three major political parties.

While the number in the All Progressives Congress (APC) is 26, in the Peoples Democratic Party (PDP), it is 16, while Labour Party (LP) can boast of 28 aspirants.

Ahead of the governorship primary that will determine who the APC candidate will be, the party’s leadership this week constituted a screening panel to prune down the number of aspirants to a manageable number.

The battle as to who will lead the party to an election which is going to determine the future direction of the state has resumed in earnest.

For those who are following the polity closely, a changing nation means a changing political landscape, a changing political landscape requires a changing political leadership.

Therefore, the battle as to who is qualified and capable to lead the party towards the 2024 general election after the tenure of Obaseki has become crucial.

For some palpable reasons, the battle for the APC ticket is not just of ambition but that of the need to take the state to the next level. That’s where Dr Ernest Afolabi Umakhihe comes in.

Under a scorching sun at the main bowl of Afuze Mini Stadium in Afuze, headquarter of Owan East Local Government Area, he officially flagged off his campaign for the APC governorship ticket.

The carnival-like event attracted people from all walks of life: diplomats, bureaucrats, civil servants, the Nigerian Labour movement, members of the Civil Society, politicians from major political parties and traditional rulers.

Umakhihe was a bureaucrat, accountant, a former civil servant and core professional.

He rose to the pinnacle of his career in the Nigerian public service, the largest in Africa through a dint of hard work, tenacity, commitment, productivity and resourcefulness worthy of emulation.

In a country full of great ambitions, in Edo State, Umakhihe is a role model to those who dare to dream. He believes that anyone can rise to the top even from an humble beginning. He epitomises what may be described as the Nigerian dream.

In a country full of great ambitions and damning frustrations, Umakhihe embodies the best in social engineering in the country, following his rise to the top of the public service hierarchy in the country.

He has an abiding faith that Nigeria could be better. That’s the faith that has brought him to politics since he left public service.

He is also a firm believer in the ability of the Edo man to be the change agent that the Niger Delta region needs.

Umakhihe however, insists that government must provide the enabling environment for the people to take up the peculiar challenges facing the state.

According to him, ordinarily, government would love its citizens to build-up their own businesses so that they would be less dependent on the state. The inability of government to achieve this has been the bane of development of the state. He believes that given the peculiar nature of Edo State, government should be the catalyst for growth in the Niger Delta region.

Since indicating his desire to contest the governorship seat, Umakhihe has insisted that someone must be the change that the people need. He believes that he can be that change. A patriotic and disciplined gentleman, he is committed to success and devoted to fruitful service to Edo, the nation and to humanity.

Umakhihe possesses a zeal that drives him to succeed where others are scared.

His life has been crowned with many achievements. Indeed, in Edo State, he has been an inspiration to many.

Umakhihe was born on 5th April, 1964 at Iyeu Quarters, Otuo, Owan-East Local Government Area of Edo State, Nigeria. He is from a humble and disciplined family that instilled into the young Ernest profound values of honesty, integrity, resilience and hard work. He was brought up in Otuo, Afuze and Igarra of Edo State, where he had his elementary education. He had his Secondary Education at the Holy Trinity Grammar School at Sabon-Gida Ora and Edo College, Benin-City, Edo State, for his WASCE O level.

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

T H I S D AY ˾ DAY ͯͷ, 2024

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IMAGES

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

L-R: Chief Executive Officer, Hana Tee Unisex Fashion Designer, Hannah Makanjuola; brother of the celebrant, Sheriff Olufunmi; celebrant, Amina Olufunmi; Assistant Editor, THISDAY Newspapers/Convener, ‘Amina Olufunmi Must Be Empowered Initiative’, Olufunke Olaode; General Manager, Ibeji Foundation, Rafiat Gbadamosi; and General Manager, NASFAT Agency for Zakat and Sadaqat (NAZAS), Mufutau Adelotan, during the presentation of vocational tools for Amina Olufunmi, who was empowered by lbeji Foundation and NAZAS, held at the NAZAS Corporate Office, Magodo, Lagos…recently

L-R: Deputy Director, National Population Commission (NPC), Ms. Vitaleen Nnadi; Director, NPC, Enugu State, Mrs. Odinachukwu Okolie; and representative of Enugu State Commissioner for Information, Mr. Chukwuemeka Nebo, during a press conference on NPC 2023-24 Nigeria Demographic and Health Survey, held in Enugu…recently

Director-General, National Youth Service Corps (NYSC), Brigadier General Yushau Dogara Ahmed(right), presenting the corps publication to the Director-General of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii (left), when the latter visited the NYSC National Directorate headquarters in Abuja…recently

L-R: Chief Executive Officer, Centre on Convention for Democratic Integrity, Olufemi Aduwo; Group Managing Director, NNPCL, Mele Kyari; Ooni of Ife, Oba Adeyeye Ogunwusi; and Vice Chancellor, Obafemi Awolowo University, Prof. Adebayo Bamire, during Kyari’s visits to the monarch before delivering his lecture at the Faculty of Science annual lecture in the university, Ile-Ife, Osun State…recently

L-R; Mother of the groom, Mrs. Benola Gbadebo; couple, Mr. and Mrs. Ekundayo Mirabel Gbadebo; and father of the groom, Air Vice Marshal Femi Gbadebo (rtd), during the couple’s wedding ceremony in Lekki, Lagos… recently

L-R: Vice President, Lagos Chamber of Commerce and Industry (LCCI), Sir Ladi Smith; Director-General of LCCI, Dr. Chinyere Almona; President of LCCI, Mr. Gabriel Idahosa; Deputy President of the Chamber, Leye Kupoluyi; and Vice President of the Chamber, Mrs. Olajumoke Fashanu, during the first quarter press conference of the LCCI in Lagos…recently

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Friday January 19, 2024 Vol 27. No 10507

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opinion@thisdaylive.com

www.thisdaylive.com

BODIJA EXPLOSION AND SECURITY GAPS IN OYO STATE The explosion is an early warning sign to the loopholes in security governance and disaster management in Oyo State, argues OLUDAYO TADE

See page 21

NIGERIA’S NATIONAL SECURITY: LESSONS FROM THE GOTTI TRIALS JOSHUA J. OMOJUWA argues that the country is too vast and complicated to be policed from one point

See page 21 EDITORIAL

FOREIGN AIRLINES AND TRAPPED FUNDS

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Two new books seek to change public perception of the former president’s stewardship, writes BOLAJI ADEBIYI

SO, MUHAMMADU BUHARI YEARS WERE NOT A WASTE

President Muhammadu Buhari showed XS LQ $EXMD ODVW 7XHVGD\ ,W ZDV KLV ÀUVW public outing in the federal capital city since he handed over power to his successor, President Bola Tinubu. The occasion was the presentation of two books written to set straight the record of Buhari’s eight years in WKH VDGGOH 7KH ÀUVW ZDV HQWLWOHG :RUNLQJ ZLWK %XKDUL 5HÁHFWLRQV RI D 6SHFLDO $GYLVHU Media and Publicity, and was written by Femi Adesina, his media adviser. The other was, Muhammadu Buhari: The Nigerian Legacy (2015 – 2023), a series of essays edited by Udu Yakubu, an academic.

Both authors said they were out to straighten the account of the former SUHVLGHQW·V VWHZDUGVKLS :KLOH $GHVLQD said he was providing the software of the %XKDUL \HDUV <DNXEX VDLG KH ZDV RͿHULQJ WKH hardware through an academic scrutiny of the work done.

It was a well-attended event. In the audience was Yakubu Gowon, a former head of state; Ibrahim Haruna, a former minister of education; Aminu Bayero, Emir of Kano; and scores of serving and former ministers.

Of course, Buhari and Tinubu were also there to give it the presidential touch. Expectedly, glowing tributes were paid to the subject of the event in a clear response to the negative public perception of his tour of duty. ,W ZDV *DUED 6KHKX KLV VHQLRU VSHFLDO assistant on Media and Publicity, that put the matter of the day in a proper perspective.

“Despite all he did, some people continue to ask, what did Buhari do with his eight \HDUV LQ R΀FH"µ KH VDLG 7KLV LV WKH TXHVWLRQ that the books, especially the Muhammadu Buhari: The Nigerian Legacy (2015 – 2023) seek to answer. For a hugely skeptical public, these interventions would be an interesting revelation. The snag though, is the price tag DWWDFKHG WR WKHP :KLOH $GHVLQD·V LV N DQG 20k for the hard and soft copies respectively, <DNXEX·V ÀYH YROXPHV ZLOO FRVW D ZKRRSLQJ 200k. In these days of economic hardship, which of the nation’s doubting Thomas will step forward to pick up the books just to clear WKHLU GRXEW" In the meantime, they may make do with the snippets provided by the erudite UHYLHZHUV 6KROD 2VKXQNH\H D IHOORZ RI WKH Nigerian Guild of Editors and multi-awardwinning journalist; and Eghosa Osaghae and Kabiru Mato, both professors of Political 6FLHQFH $JDLQ WKH VQDJ 7KH\ DOO VSRNH extempore. However, Bayo Onanuga, special adviser to the president on Information and 6WUDWHJ\ KDV RͿHUHG VRPH UHOLHI 7DNLQJ WR his X handle and Facebook page, he has published a transcript of his boss, Tinubu, remarks which paid a glowing tribute to Buhari.

“It will be said glowingly of President Buhari that in his eight turbulent years, marked by an acute shortage of revenue,

the Covid-19 pandemic that shut down the global economy for almost two years, his administration embarked on the most ambitious infrastructural renewal for the FRXQWU\ µ WKH SUHVLGHQW VDLG He cited the milestones, “President Buhari gave us the second Niger Bridge. He revamped the Lagos-Ibadan Expressway. He JDYH XV WKH /DJRV ,EDGDQ DQG :DUUL ,WDNSH rail lines. He completed the Abuja-Kaduna UDLO OLQH DQG /HNNL 6HDSRUW +H EXLOW EUDQG new airports, among many other landmark economic projects.

“The Abuja-Kaduna-Kano Expressway, which he started, will be completed by my administration, by the Grace of God. :KDWHYHU XQUHVROYHG FKDOOHQJHV IDFHG

by President Buhari in his eight years, our administration will endeavour to resolve them. As I said during the campaigns, I LQKHULWHG DOO KLV DVVHWV DQG OLDELOLWLHV µ ,W LV VLJQLÀFDQW WKDW XQOLNH WKH %XKDUL \HDUV which were marked by bulk-passing for the massive shortcomings in governance, Tinubu has taken responsibility rather than blame others for the economic crisis that has engulfed the country. He had no choice though, because as he said at the event, not a few Nigerians contend that he brought Buhari and must accept the assets and liabilities of the last administration. :LWKRXW D GRXEW XQWLO ODVW 7XHVGD\·V interventions by Adesina and Yakubu, the endemic public perception of Buhari’s eight years was that they were a waste. ,QGHHG VRPH VHQLRU R΀FLDOV RI WKH 7LQXEX administration, including Nuhu Ribadu, the national security adviser, had boosted this ugly view. Tinubu said Ribadu, a couple of weeks ago, inherited a bankrupt economy.

This feeds into the general belief that Buhari was like the Yoruba deity, which rather than improving the lot of the people had worsened it. &DUULHG LQWR R΀FH RQ WKH EDFN RI WKH widespread disappointment with the erstwhile Peoples Democratic Party government of President Goodluck Jonathan, Buhari of the All Progressives Congress was

thought to be the change agent that would pull Nigeria out of the cesspit of perceived economic downturn, rising insecurity and massive corruption.

But years after, Nigerians, many of them part of the mob that conned their fellow citizens into accepting ash as salt, were gnashing WKHLU WHHWK UHJUHWWDEO\ 6R VSHFWDFXODU ZDV WKH perceived failure of the Buhari administration WKDW ORRNLQJ EDFN PDQ\ 1LJHULDQV MXVWLÀDEO\ think 2015 was a critical error of judgment that had produced the worst mistake ever made by them.

6R EDG ZDV WKH VLWXDWLRQ WKDW PDQ\ Nigerians felt that Buhari should not have happened. The evidence was all over the place in the comatose national economy, the widening and worsening insecurity, and the LQVLGLRXV FRUUXSWLRQ RI KLJK R΀FLDOV RI KLV government. Not only did Nigerians become nostalgic about the Jonathan years, but Buhari’s kitchen people even attempted to move the former president across the carpet in an awkward think to return him to power.

6LJQV RI WKH SHUFHLYHG LQFRPSHWHQFH RI WKH former president emerged early when he hit the ground and sat there rather than run. He had narrowed his areas of priority during his electioneering to the economy, security, and corruption. He said he would revive the economy and lead from the front in stamping out insecurity and corruption. But for six months into his administration, he could not form a government.

And so, within 11 months of taking power, the economy became acutely distressed and ZHQW LQWR D UHFHVVLRQ WKH ÀUVW LQ \HDUV RI WKH nation’s economic history. Rather than take responsibility, Buhari heaped the blame on the Jonathan administration complaining that the previous government left it an economy that was in a dire strait. It conveniently forgot that it left the country without any direction for six months, by its failure to appoint ministers and key functionaries.

Buhari had in 2015 inherited an economy with appreciable indices. The size of the economy was $500 billion, the largest and fastest growing in Africa at seven per cent, yielding 8.09 per cent unemployment.

That was largely possible because capacity utilisation was 60.5 per cent with a foreign GLUHFW LQYHVWPHQW RI ELOOLRQ ,QÁDWLRQ was a single-digit 9.01 per cent while the exchange rate was N197/$. Although the debt portfolio was N12.3 trillion, the external reserve stood at $29.13 billion. The Jonathan administration also left a $6 billion Nigerian /LTXLÀHG 1DWXUDO *DV /LPLWHG GLYLGHQG LQ DGGLWLRQ WR D 6RYHUHLJQ :HDOWK )XQG WKDW yielded N26.3 billion in that year.

Adebiyi, the executive editor of Western Post Newspaper, is a member of the Editorial Board of THISDAY Newspapers

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The explosion is an early warning sign to the loopholes in security governance and disaster management in Oyo State, argues OLUDAYO TADE

BODIJA EXPLOSION AND SECURITY GAPS IN OYO STATE On the ‘roof-top-bar’ of the senior staff club, University of Ibadan, I sat with my professor friend switching between discussions on the social economic conditions and the precarity of our lives as public university lecturers in Nigeria and watching the African Nations' Cup. We requested for a bottle of coke and mixed it with water, sipped it when we felt the need to and talked about how those who are supposed to protect Nigerians have abdicated that responsibility. It was not long when we heard a massive bang, the only thing compared to it was a bomb. Paul, one of the waiters in the club ran up as the surface upon which he stood vibrated heavily. We experienced the same. I told my friend that the sound was too massive to imagine something else but the puzzle was, what was that and where did this sound come from?

We sat there for some minutes until a friend called from General Gas, about 25minutes from our location to ask if we heard any sound and told my friend that the vibration of that bang shook his house. Could terrorists have entered the pacesetter state and detonated their evil weapon at a location nearby? I deleted that evil thought and was still calm. And finally, a call came from my friends’ foster parents whose house is within the epicenter of the explosion. They needed help.

The couple had been affected and they needed my friend to evacuate them. The house was messed up I heard. Disturbed, and engulfed with fear, my professor friend had to visit the toilet first. This was not a time to laugh. I knew what was going on. We were also vulnerable. The old couple who had climbed 70 years and approaching 80 years live alone with a domestic help. Their biological children are abroad. The tension was high. It was they who assisted us with the information that the deafening bang happened in Bodija, their area and the destruction to lives and properties were better seen than imagined.

And so, the 16th January, 2024 showed us how vulnerable we are in Ibadan, the Oyo State capital.

Just when Nigerians were thinking end will come to sad news such as the massacre in Plateau State on the eve of 2023 Christmas, the kidnappings in Abuja and killings of kidnapped children, the mismanagement of funds meant for poor Nigerians among others; a yet-to-be ascertained quantity of improvised explosive device (IED)/ dynamite hidden by illegal miners living around Adeyi Avenue in Bodija area of Ibadan exploded.

The immediate effects were death of two people and 77 injured persons taken to the hospital.

Buildings were flattened and cars within the radius of the explosion were not spared. Exotic cars became carcass within minutes. People rushed to safe persons under the wreckage. They also sent messages calling for more hands to help out.

The middle/upper class neighborhood of Bodija in Adeyi Avenue, the home to some of the best brains in Oyo State had been visited by the consequences of our collective inactions at individual and state levels.

The governor, Seyi Makinde said that the preliminary security findings indicated that the explosion came from illegal miners who stored improvised explosive devices in the house they live in the area and that led to the blast. The questions are since when have the illegal miners been domiciled in this neighbourhood with knowledge of their activities? Considering the fact that a police station is not far from this area, have there been no report to police authorities or even to the government about these people before this sad event? Bodija is not a poor people’s neighbourhood. It is home to the very enlightened. Does it mean that no one

sent message to the authorities about the activities of these people? When the governor visited the scene of the explosion, he said he had asked people to say something when they see something. The residents said they saw something, said something but the authorities did nothing.

When people complain and nothing is done and they see that the people they complained about are powerful with connections, citizens will adopt if you cannot beat them by reporting to authorities and getting them arrested, you simply allow them to be so that you can live longer in Nigeria. Or at best, they relocate to another area. Other people will not just relocate or complain but will join the criminal gang in their evil plan to destroy and profit from it. Who is profiting from our pains?

Crime is not only local but its success mainly occurs because of the collaboration of insiders who can be those in government, the citizens and their moles in our security system.

We need to see this explosion as an early warning sign to the loopholes in security governance, intelligence, and disaster management in Oyo State. How many more of strangers doing illegal mining in collaboration with Nigerians are still within our neighbourhoods? If this could happen just behind the seat of government of Oyo State and no actionable intelligence got to the state, then there is fire on the mountain. Citizens have the responsibility to talk about the evil in their neighbourhood. We cannot stand aloof because the consequences of our silences may become our victimisation. Who knows who is next, where is next and how it will happen? We must jettison Ko-kan-mi (its not my business) attitudes and sòròsókè (speak-up) against evil because when the realities of not speaking up happens to us, enitó-kàn-ló-máa-ran (only the victims will bear the consequences).

The miners are said to be foreigners. How did they get in? Who permitted them to bring in explosives inside the country and with which company did they get such approval if any?

Who are they connected to and their network of powerful people?

Illegal mining is an entrenched organized crime which makes people to implicate the state. How many more pains shall we endure until we all lose our humanity and become beasts? Living in middle class neighbourhood is a strategy they use to cover up for their activities. They fund insecurity in the rural areas so that people will be chased away from their ancestral lands so that they can continue with their illegal mining. Recall that the billionaire kidnapper also known as Evans lived on the same street with a former deputy governor of Lagos. He was even providing free electricity for them until he was arrested. Oyo State Governor needs to sit-up and break the chains of organized criminality if she is not connected with it.

Tade, a criminologist writes via dotad2003@yahoo. com

JOSHUA J. OMOJUWA argues that the country is too vast and complicated to be policed from one point

NIGERIA’S NATIONAL SECURITY: LESSONS FROM THE GOTTI TRIALS Until about 40 years ago, the United States of for murder. To cut this short, John Gotti America, and especially New York City, had an defeated the government again. Played organised crime challenge that appeared to defy three, won three. Top of the table. He was HYHU\ VROXWLRQ 7KH 0DÀD KDG EHFRPH ODZ XQWR untouchable!

LWVHOI 2QH PDÀRVR DSSHDUHG WR EH LQYLQFLEOH Except he really wasn’t, even though he against the law - while boss of the Gambino earned iconic status for his invincibility and organised crime family. His experience in US ability to defeat the government. He became FRXUWV RͿHUV D OHVVRQ IRU WKRVH DW WKH KHOP RI WKH ¶7HÁRQ 'RQ· meeting Nigeria’s evolving and complicated Then came the FBI. However, unlike the security challenges. previous cases, the FBI sought cooperation John Gotti killed Paul Castellano, who was and got information from the OCTF. until he got killed, the head of the Gambino %DWWOLQJ WKH GLͿHUHQW WLHUV RI JRYHUQPHQW family. The feds knew Gotti ordered the killing, prosecution left Gotti paranoid, exposed however they had no evidence, so he wasn’t and careless. The FBI got war-wearied Gotti. charged.

This would have been impossible That did not matter to the New York Queens without President Ronald Reagan easing 'LVWULFW $WWRUQH\ ZKR LQ WKH DEVHQFH RI FUHGLEOH legislation on electronic surveillance in 1984 evidence on the murder case, instead charged and the passing of the RICO Act into law Gotti for assault in a case that involved a years before. Two big paradigm shifts.

WUD΀F LQFLGHQW EHWZHHQ *RWWL DQG D PDQ FDOOHG Often, the crimes and criminals that end Romual Piecyk. Piecyk didn’t know who Gotti up becoming “national security” issues was when the incident happened 18 months start out being “local security” issues. Boko before. Even then, Gotti was only a captain or Haram was local, kidnapping was local, VR LQ WKH 0DÀD %\ WKH WLPH WKH FKDUJHV FDPH XS IPOB was local, banditry was local. Our for hearing, Gotti had become the Godfather of current national security challenges were all local challenges.

The failure of security in Nigeria is a systemic failure brought about by the fact WKDW RQO\ RQH SROLFH LV ÀJKWLQJ FULPH 7KDW is the Nigerian Police Force (NPF). The NPF has failed so much so that the military is a lot more involved in security within the country than it ordinarily should be. The failure of the police is just as much about its capabilities as it is about a design that is bound to guarantee failure.

There are about 20,000 police agencies in the U.S. All devolved from the smallest tier of government to the federal government.

A lot has been said about the prospects of governors abusing state police. Well, don’t 1HZ <RUN·V PRVW SRZHUIXO 0DÀD IDPLO\ governors already abuse the NPF? Even When it was time to appear in court, the low-budget big men do. complainant was nowhere to be seen. By the Nigeria is too vast, diverse, and time he was found, he was wearing a support complicated to be policed from one point. for his broken hands. When time came to testify, You’d end up with too many ungoverned he refused to. Gotti got away free as all charges spaces. We need more than one police. We of assault got dismissed. Gotti defeated the need at least 38. Possibly 812.

4XHHQV 'LVWULFW $WWRUQH\ We can throw up as many names as we Then came the Gotti trial by the Eastern want as to who should head what security 'LVWULFW RI 1HZ <RUN +H ZDV FKDUJHG IRU agency. However, if those people work in murder, illegal gambling, racketeering, etc. a system that is designed to be literally so 'LDQH *LDFDORQH DQ DVVLVWDQW 8 6 DWWRUQH\ OHG far removed from the local sources of these WKH FDVH DQG ZDV TXLWH FRQÀGHQW DERXW JHWWLQJ issues, they’d achieve some incremental a conviction, especially as to that point, no progress at best, before progress is reverted. prosecutor had lost a case under the Racketeer And that’s the best anyone has achieved ,QÁXHQFHG DQG &RUUXSW 2UJDQLVDWLRQV 5,&2 since 1999. We haven’t solved for security law. since 1999.

The FBI was at this point investigating John National Security Adviser (NSA), Nuhu Gotti and did not appreciate what Giacalone 5LEDGX·V HͿRUWV WR HQVXUH WKH YDULRXV was up to. It did not help that the assistant security agencies are working together and attorney refused to step down an indictment sharing information is a step in the right against Willie Boy Johnson, a major informant direction. His proactive moves engaging of the FBI, who was an ally and loyalist of various actors and players are essential Gotti. Johnson had been supplying the FBI in preventing situations that’d lead to a information secretly for years. Giacalone breakdown of law and order. Such moves refused and not only indicted Willy Johnson, are hardly appreciated in the same way she also exposed him as a ‘rat’ in court.

QR RQH FDUHV DERXW D VXFFHVVIXO ÁLJKW :H Whilst Giacalone thought she had a strong only care when the unfortunate happens. case, her prosecution primarily depended on So, this is not to say the National Security informants who were themselves criminals. Architecture should be done away with.

Gotti was again acquitted on all charges. This That should never come into play.

ZDV WKH ÀUVW WLPH D SURVHFXWRU ORVW D 5,&2 FDVH Then came the New York State Organised Omojuwa Crime Task Force (OCTF) who depending is chief strategist Alpha Reach/ author on electronic surveillance charged John Gotti Digital Wealth Book

22 4

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EDITORIAL

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

FOREIGN AIRLINES AND TRAPPED FUNDS The CBN should negotiate a graduated payment plan with the airlines

T

he continued inability of foreign airlines to repatriate their revenue is a disincentive to investors who may want to bring in their funds to invest in Nigeria. Not being able to pay these IRUHLJQ DLUOLQHV WKHLU PRQH\ XQR΀FLDOO\ designates Nigeria as a country of high risk for LQYHVWPHQW :KLOH HͿRUWV DUH EHLQJ PDGH WKH million recently paid to the airlines by the federal government is inadequate considering that they are RZHG DERXW PLOOLRQ 7KLV KDV DOUHDG\ DͿHFWHG WKH FRXQWU\ LQ PDQ\ ZD\V HVSHFLDOO\ LQ WKH DYLDWLRQ LQGXVWU\ 1LJHULDQ DLUOLQHV ÀQG LW GL΀FXOW WR HLWKHU OHDVH RU SXUFKDVH aircraft directly from manufacturers or their agents because the country is deemed unable to keep agreements. They must therefore secure guarantee from local EDQNV ZKLFK LQVLVW RQ the deposit of equivalent sum of the aircraft cost before such guarantee could be given.

In the Bilateral Air Service Agreement (BASA) signed between Nigeria and other nations that their DLUOLQHV RSHUDWH WR WKH FRXQWU\ WKHUH LV D FODXVH WKDW foreign airlines are free to repatriate their earnings in foreign currency through the Central Bank of Nigeria (CBN) and this agreement has been negated. Even though the federal government has been paying to UHGXFH WKH DPRXQW RI WKH UHYHQXH WUDSSHG LQ 1LJHULD the payments have been negligible. %\ -XO\ WKH WRWDO IRUHLJQ DLUOLQHV UHYHQXH WUDSSHG LQ 1LJHULD ZDV DERXW PLOOLRQ EXW E\ -DQXDU\ LW KRYHUV DURXQG PLOOLRQ 7ZR PRQWKV ODWHU RQH RI WKH ZRUOG·V PHJD FDUULHUV (PLUDWHV VXVSHQGHG LWV RSHUDWLRQ WR 1LJHULD EHFDXVH LW FRXOG QRW UHSDWULDWH PLOOLRQ UHYHQXH WUDSSHG LQ 1LJHULD ,WV VLVWHU DLUOLQH (WLKDG DOVR VXVSHQGHG ÁLJKW VHUYLFH WR 1LJHULD 7KH LPSOLFDWLRQ LV WKDW LI WKHVH IXQGV DUH QRW UHSDWULDWHG RWKHU DLUOLQHV FRXOG VXVSHQG WKHLU ÁLJKW RSHUDWLRQV WR 1LJHULD ZKLFK ZLOO constrict the economy and paralyse international

WUDYHO VLQFH IRUHLJQ DLUOLQHV DLUOLIW SHU FHQW RI Nigerians who travel overseas. $V WKH IDVWHVW ZD\ RI PRYLQJ SHUVRQV DQG JRRGV DLU transportation is a catalyst to economic development for any nation. It is also the preferred means of transport for people both in the private and public VHFWRUV 6R HYHU\ FRXQWU\ LV QHJDWLYHO\ DͿHFWHG ZKHQ VFKHGXOHG ÁLJKW RSHUDWLRQV DUH LPSDLUHG 0HDQZKLOH failure to encourage domestic airlines to grow into strong operators has willy-nilly made foreign airlines operating into our country very imperative. These foreign carriers have also over the years maintained high load factor due to high patronage.

The International Air Transport Association (IATA) UHFRJQLVHV WKDW WKH ZLWKKROGLQJ RI DLUOLQHV· IXQGV E\ Nigeria and other countries was not on purpose. But IATA has also observed that Nigeria might not be giving aviation the priority it deserves. Nigeria has the highest number of DLUOLQHV· WUDSSHG IXQGV in the world. Already the inability of the airlines to repatriate their revenue has led to a hike in the cost of ticket to international GHVWLQDWLRQV E\ RYHU SHU FHQW H[DFHUEDWHG E\ WKH GHYDOXDWLRQ RI WKH QDLUD )RU LQVWDQFH D WLFNHW LQ WKH SDVW ZKLFK ZDV VROG IRU DERXW 1 LV QRZ VROG IRU RYHU 1 ,Q WKH SDVW DOVR D WLFNHW XVHG WR FRVW EHWZHHQ 1 DQG 1 EXW LW now costs way above one million Naira.

2YHUDOO WKH FRQVHTXHQFHV RI UHGXFHG DLU connectivity include the erosion of our national FRPSHWLWLYHQHVV GLPLQLVKHG LQYHVWRU FRQÀGHQFH and the reputational harm that could come with a perception that Nigeria is a high-risk place to do business. While the CBN may therefore be battling ZLWK VFDUFLW\ RI IRUH[ WKH VROXWLRQ LV QRW WR VLW RQ the legitimate earnings of foreign airlines. The bank can negotiate a graduated payment plan with each airline to release the trapped funds in tranches over D QXPEHU RI PRQWKV 7KDW ZD\ WKHLU VHUYLFHV DUH QRW interrupted.

The consequences of reduced air connectivity include the erosion of our national competitiveness, diminished investor confidence and the reputational harm that could come with a perception that Nigeria is a high-risk place to do business 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 NIGERIA AND THE SLIPPERY SLOPE OF SUICIDE 6DUDWX 5HGHPSWLRQ 0DLNH΀ D OHYHO VWXGHQW RI 0LFURELRORJ\ LQ WKH 1DVDUDZD 6WDWH 8QLYHUVLW\ .H΀ WRRN KHU OLIH WRZDUGV WKH HQG RI ODVW \HDU $FFRUGLQJ WR UHSRUWV WKH VHOI GHVFULEHG DFWUHVV EHDXW\ TXHHQ DQG &(2 RI 5KLQD %DNHU\ LQJHVWHG D SRLVRQous substance as a result of mounting emotional pain. Her death continues what has become a silent but devastating trend among \RXQJ 1LJHULDQV ³ WDNLQJ WKHLU OLYHV LQ WKH KRSH RU H[SHFWDWLRQ that things will get better elsewhere.

Those who take this path usually leave behind heartbroken family members and loved one. There was also the case of a JDPEOH JRQH DZU\ $V UHSRUWHG E\ VRPH QHZV RXWOHW D PDQ LQ Anambra State took his life after the millions he borrowed went down the drainpipe of gambling.

(DUO\ WKLV \HDU $PDUDFKL ,JZH D IHPDOH EDQN VWDͿ WRRN KHU OLIH ZLWKLQ WKH SUHPLVHV RI WKH EDQN LQ /DJRV +HU GHDWK ZKLFK sent shockwaves around the country was preceded by a suicide QRWH LQ ZKLFK VKH ODPHQWHG WKH GL΀FXOWLHV RI OLYLQJ LQ 1LJHULD The heart-wrenching note written clearly in a notepad was clear and startling in its despair and hopelessness. )RU PDQ\ \HDUV QRZ WKHUH KDV EHHQ D PHQWDO KHDOWK HSLGHPLF of depression in Nigeria. This state of almost mass depression

has been suspected for a while now but has only started to come WR WKH IRUH UHFHQWO\ WKDQNV WR LQFUHDVHG VHQVLWL]DWLRQ LPSURYHG awareness and less stigmatization. +RZHYHU GHVSLWH WKHVH 1LJHULD UHPDLQV D FRXQWU\ ZKHUH UDPSDJLQJ PHQWDO LOOQHVV LV UDPSDQW DQG PDQ\ DUH VLOHQWO\ hanging on to dear life by the skin of their teeth. The situation is truly worrisome because if this number of Nigerians are at their ZLW V HQG WKHQ WKH HQG LV IULJKWHQLQJO\ DW KDQG Nigeria's staggering struggles to build a country where evHU\RQH FDQ OHDG D TXDOLW\ OLYH LV ZHOO GRFXPHQWHG ,QVHFXULW\ RXWUDJHRXV OLYLQJ FRVWV EDG JRYHUQDQFH FRPSOHWH ZLWK FDODPLWRXV JRYHUQPHQW SROLFLHV DUH MXVW D IHZ RI WKH LVVXHV 3HUKDSV WKH JUHDWHVW LQGLFWPHQW RI MXVW KRZ GL΀FXOW OLIH LV WKH IDFW WKDW 1LJHULD V \RXQJHVW WKRVH ZKR FDUU\ WKH FRXQWU\ V KRSHV DUH desperate to live in the country. They also count among those taking their lives as things stand. Let down by a country where WKH IHZHVW DUH WKH ULFKHVW WKH\ VHH QR ZD\ RXW ,W WDNHV DQRWKHU OHYHO RI GHVSHUDWLRQ WR WDNH RQH V OLIH 0DQ V JUHDWHVW LQVWLQFW LV VHOI SUHVHUYDWLRQ 7KXV WKH PRPHQW RQH EHJLQV WR HQWHUWDLQ UHFXUULQJ WKRXJKWV RI WDNLQJ RQH V OLIH DQG JRHV WR WKH H[WHQW RI DFWLQJ RQ LW WKH GDUNQHVV ZLWKLQ LV DW DQ H[WUDRUGLQDU\ OHYHO

There have been hilarious attempts by some state governments in Nigeria to preempt the happiness of their people. HowHYHU ZKLOH KDSSLQHVV FDQ EH GL΀FXOW WR SUHHPSW HVSHFLDOO\ E\ SROLFLHV ERUQ RXW RI GXELRXV SROLWLFV WKH LQJUHGLHQWV WKDW FDQ JR into making happy people have clear indicators.

A major indicator is good governance. When there is good JRYHUQDQFH LQ SODFH SHRSOH RULHQWHG SROLFLHV DUH HQJLQHHUHG DQG HQIRUFHG 7KH ULSSOH HͿHFW RI WKLV LV WKDW SHRSOH ÀQG PRUH VDWLVIDFWLRQ LQ WKHLU OLYHV 7KHVH IHHOLQJ RI VDWLVIDFWLRQ QR PDWWHU how intangible can keep the wolves away from the door. This LV EHFDXVH H[SHULHQFH KDV VKRZQ WKDW LW GRHVQ W WDNH PXFK WR engender true happiness. Another key indicator is security. The logic behind this is simple. People will not easily slide into depression when they do not have to entertain ruinous rumination over the safety of their lives and property.

To keep Nigerians from getting consumed by what is a menWDO KHDOWK HSLGHPLF WKH JRYHUQPHQW PXVW GR PRUH ERWK WR LPSURYH WKH OLYHV RI 1LJHULDQV EXW DOVR WR LPSURYH DFFHVV WR PHQWDO health services.

Ike Willie-Nwobu, ikewilly9@gmail.com

T H I S D AY ˾ FRIDAY, JANUARY 19, 2024

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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 A R Y

S & P INDEX

1 8 , 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%

Importers Lament as Import Volumes Drop Amid Foreign Exchange Scarcity

Eromosele Abiodun Importers licensed customs agents in the country have decried the massive decline in import volumes, which they claim has contributed to the high cost of living in the country.

Inflationary trends occasioned by naira depreciation and high import levy has led to a massive drop in import volumes, a development that may impact negatively on the N5.1 trillion revenue target of the Nigeria Customs Service (NCS) for the year.

It was learnt that some

importers have even stopped trading altogether because of the difficulty in accessing foreign currency and the recent hike in import duty rates.

The massive decline in imports has resulted in a lack of clearing jobs and has affected the ability of some traders to continue their businesses.

For instance, a former Vice President of the Association of Nigerian Licensed Customs Agents (ANLCA), Mr. Kayode Farinto expressed concern about the dwindling level of importation, stating that most imports in recent times have been raw materials for

the production of other goods.

The raw materials, he said, attract a lower duty rate of 5 per cent.

To encourage importers and traders to continue their businesses, Farinto called on the federal government to introduce measures that would provide incentives.

One such measures, he advised, could be revising the calculation of Value Added Tax (VAT), which he said currently goes against the principles of international trade.

In the same vein, Secretary of the Nigeria Customs Consultative

Committee, Mr. Eugene Nweke said the economic difficulties faced by the current government are a consequence of the actions of the previous administration.

He said the monetary policy in Nigeria has been negatively influenced by preferential treatments and regulatory laxity.

Other major stakeholders in the maritime industry have called on the federal government to reduce the high import duty being implemented by the NCS. “Since July 2023, the NCS has raised import duty rate more than seven times. The most recent increase was announced

mid-December of last year, and while importers were still having difficulty finding a balance, the customs duty was raised once more. In the end, it is the masses and the end users that will bear the brunt.

Speaking, the Vice President of ANLCA, Mr. Segun Oduntan advised traders not to blame the NCS for the increase in import duty, as they are only implementing government fiscal policies.

Overall, the importers said the continuous depreciation of the Naira against the dollar, coupled with increased import

duty rates, will lead to a decline in the importation of goods and services in Nigeria.

This trend, they added, is worrisome for the Nigeria Customs Service, as it may struggle to achieve its revenue target for the year.

Meanwhile, the Comptroller General of the NCS, Mr. Adewale Adeniyi has called on the business community to increase export trade so as to earn more dollars and boost the naira.

The story continues online on

www.thisdaylive.com

Challenges in Acquiring, Leasing Aircraft Threaten Aviation Industry as More Equipment are Grounded Without Replacement Chinedu Eze Nigeria’s aviation industry is being threatened by the fast depreciating operating equipment, occasioned by the challenges faced by Nigerian carriers in acquiring or leasing aircraft to replace old ones.

It was learnt that Nigerian carriers are finding it difficult to bring their airplanes that went for maintenance back to the country, due to foreign exchange scarcity. They are also faced with numerous challenges

in acquiring or leasing aircraft due to stringent conditions given to Nigeria by lessors and aircraft manufacturers.

The development, THISDAY gathered, has continued to drive up airfares, as a result of the limited number of operating aircraft that do not meet the high demand of air travelers.

There are fears that despite the insecurity on Nigerian roads, more Nigerians would have to resort to road transport, should the airfares

continue to skyrocket.

According to reliable information, many Nigerians who hitherto travel by air resorted to road transport during the last Christmas holidays due to increased price of tickets.

There are fears that with the high cost of airline operations, some airlines may suspend flight service.

In January, the total number of airworthy aircraft for schedule commercial services was about 43 for all the 10 airlines operating in Nigeria.

This is far less than the number of private jets that operate in Nigeria, which the Nigeria Civil Aviation Authority (NCAA), puts at over 170.

The Managing Director and CEO of Aero Contractors, Captain Ado Sanusi, in an exclusive interview with THISDAY explained why Nigerian airlines are finding it difficult to acquire or lease aircraft.

“There are so many factors.

But the main factor is the country risk. And if you look at the country risk and you put Nigeria as one of

the highest risk factors for getting airplanes, either lease or purchase, it’s because of a couple of factors that contributed to the country risk.

Even if you start from the list, which is the accessibility of funds and repatriation of funds,” he revealed.

According to Sanusi, one of these factors is the inability of Nigeria to pay foreign airlines their trapped revenue in Nigeria due to the scarcity of dollars and as this unfortunate situation is unfolding it is making its rounds around the globe.

He also observed that Nigeria does not have a strong regulator, who can stand with the lessors to ensure they recover their aircraft in case of infringement in the agreement reached between the airlines and the lessors.

He recalled that in the past some Nigerian airlines used the court to stop lessors from recovering their equipment during disagreements.

The story continues online on

www.thisdaylive.com

M A R K E T D ATA A S AT T H U R S D AY, J A N U A R Y 1 8 , 2 0 2 4 BONDS Change Updated Time DESCRIPTION Price Yield (%) January ^13.53 23101.49 12.09 -0.01 18, 2024 MAR-2025 ^12.50 22January 99.40 12.85 0.01 18, JAN-2026 2024 ^16.2884 17January 109.01 12.72 0,00 MAR-2027 18, 2024 ^13.98 23January 101.63 13.44 0,00 FEB-2028 18, 2024 ^14.55 26January 101.40 14.15 0,00 18, APR-2029 2024

BILLS MATURITY

Discount Yield

Change (%) Updated Time

MATURITY

RMBL CP VI 31-JAN-24 CRSL CP II 18-FEB-24

6.52

6.54

January 0.00 18, 2024

8.97

9.04

January 0.00 18, 2024

10.37

10.50

January 0.00 18, 2024

RMBL CP VI 31-JAN-24 CRSL CP II 18-FEB-24

7.79

7.89

January 0.00 18, 2024

8.94

January 0.00 18, 2024

FLOURMILLS CP III 29-FEB-24

UACN CP VI 19-MAR-24 LFZC CP IV 16-APR-24

8.75

OTC F X F U T U R E S

CPS

FLOURMILLS CP III 29-FEB-24

UACN CP VI 19-MAR-24 LFZC CP IV 16-APR-24

Discount Yield 6.52

6.54

8.97

9.04

10.37

10.50

7.79

7.89

8.75

8.94

Change (%)

Updated Time

January 0.00 18, 2024 January 0.00 18, 2024 January 0.00 18, 2024 January 0.00 18, 2024 January 0.00 18, 2024

CONTRACT TENOR Contract (MONTH) 13

13M

14

14M

15

15M

16

16M

17

17M

Current Rate ($/₦)

Updated Time

NGUS JAN 29 2025 NGUS FEB 26 2025 NGUS MAR 26 2025 NGUS APR 30 2025 NGUS MAY 28 2025

January 18, 2024 January 18, 2024 January 18, 2024 January 18, 2024 January 18, 2024

24

FRIDAY, JANUARY 19, 2024 ˾ T H I S D AY

BUSINESSWORLD

AIR WATCH

How PenCom’s Initiatives, Achievements Shaped Pension Industry in 2023 The National Pension Commission (PenCom), the apex regulatory authority for Nigeria’s pension industry, marked 2023 as a momentous period in the nation’s pension regulation and administration history. Demonstrating its commitment to effective oversight and innovation, PenCom successfully executed noteworthy initiatives, shaping a positive trajectory for the pension landscape.

These initiatives manifested in a sustained growth of pension fund assets and CPS membership. This piece summarises PenCom’s journey, highlighting triumphs and an unwavering pursuit of excellence in 2023 as follows:

ASSETS, CPS MEMBERSHIP GROWTH

A I R WATCH ‘Partnership Key to Airport Infrastructure Renewal’

PENCOM DG, Aisha Dahir-Umar

PenCom recorded significant growth of the Pension Fund Assets in 2023.

Over the first ten months, pension assets increased by N2.67 trillion from N14.99 trillion recorded as at December 2022 to N17.66 trillion as at October 2023. Concurrently, the CPS membership increased by 278,800 new Retirement Savings Accounts (RSAs) from 9.86 million as at December 2022 to 10.14 million as at October 2023.

PENSION ENHANCEMENT EXERCISE

The Pension Enhancement Exercise, which started in 2017, is the periodic enhancement of pensions for retirees under the CPS. The third edition of the Pension Enhancement was conducted between February and July, 2023. The exercise covered existing retirees under programmed withdrawal mode of access who had accumulated significant growth in their Retirement Savings Accounts (RSAs).

Based on the analysis of retirees’ data, 111,187 retirees qualified for the third edition of the enhancement. Implementing the Pension Enhancement is a significant indicator that the CPS provides better retirement opportunities, enhancing the amount of pensions received by retirees. Pension Enhancement is another clear departure from the Defined Benefits scheme of the past, where retirees’ pensions were somewhat fixed. Previous Pension Enhancements were conducted in 2017 and 2020.

ADDITIONAL BENEFITS

PenCom unveiled the Framework for the Establishment of Additional Benefits Schemes under the CPS to boost retirement benefits for Nigerian workers. The Framework aligns with Section 4(4)(a) of the Pension Reform Act (PRA) 2014, which allows employers to pay additional benefits to their employees upon retirement. Accordingly, any employer may wish to provide additional benefits, such as gratuity, to its employees upon retirement.

The Framework outlines the modalities for establishing and managing Additional Benefits Schemes for employers interested in increasing their employees’ retirement benefits under the CPS.

RSA FOR RESIDENTIAL MORTGAGE

PenCom continued to implement the Guidelines on Accessing Retirement Savings Account (RSA) Balance towards Payment of Equity Contribution for Residential Mortgage by RSA Holders in line with the provisions of Section 89 (2) of the Pension Reform Act 2014 (PRA 2014). Section 89 (2) allows RSA holders to apply a percentage of their pension savings towards payment of equity contribution for a residential mortgage. PenCom’s implementation of the Guidelines facilitated many workers in realising their dream of homeownership in 2023. A total of 1,737 pension contributors have so far accessed N18.601 billion from their RSA balances towards payment of equity contributions for residential mortgages in 2023.

ONLINE ENROLMENT/ REGISTRATION

As in the previous year, PenCom conducted the 2023 online Verification and Enrolment Exercise for retirees and prospective retirees of treasury-funded Ministries, Departments, and Agencies (MDAs) due to retire in 2024.

The nationwide exercise started on October 2, 2023. To simplify the process for prospective

retirees and retirees, PenCom provided two options for registration for enrolment: The Self-Assisted option and the Pension Desk Officer (PDO)/PFA-Assisted option.

PENSION CLEARANCE CERTIFICATES

PenCom commenced the issuance of PCC to organisations in 2012 in line with the Pension Reform Act, 2014 (PRA, 2014), which mandates all organisations with at least 3 employees to participate in the CPS. The PCC is evidence of compliance with the PRA 2014 and serves as a prerequisite for all suppliers, contractors, or consultants soliciting any contract or business from the Federal Government’s Ministries, Departments, and Agencies (MDAs). Accordingly, PenCom issues PCCs to organisations that apply and have fully complied with the requirements.

Consequently, from January to December 2023, PenCom issued 30,293 PCCs to private organisations that applied and fully complied with the set requirements.

UNCREDITED PENSION CONTRIBUTIONS

PenCom observed that some employers remitted pension contributions of their employees with incomplete documentation.

Consequently, PFAs were unable to credit the RSAs of the affected employees. PenCom and PFAs posted the list of affected employers and employees with uncredited contributions on their websites. On September 6, 2023, PenCom issued a press release directing all employers and employees on the list to provide PFAs with the requisite information to facilitate the crediting of pension contributions into the employees’ RSAs before the end of December 2023.

PENCOM’S CORPORATE STRATEGY

PenCom developed and commenced implementation of the commission’s refreshed corporate strategy. The strategy introduced several innovations hinged largely on improved service delivery to stakeholders. A highpoint of the strategy was the creation of a Consumer Protection Department to ensure that pension contributors and retirees are served effectively and efficiently. Through the department, PenCom has given more impetus to the expeditious resolution of complaints and issues from pension contributors and retirees.

COMMENDATIONS

Many of PenCom’s critical stakeholders, such as labour unions, the pensioners’ union, the employers’ association, and the business community in Nigeria, have recently publicly expressed confidence in how PenCom regulates the pension industry in Nigeria. Speaking during the 2023 Annual Directors Conference organised by the Chartered Institute of Directors (ClOD) on November 16, 2023, in Abuja, Mr Olusegun Aganga (CON), the Managing Director of Goldman Sachs, Arthur Young in Nigeria, and Director of Westco Ltd, commended PenCom for effectively regulating the pension industry in Nigeria. Aganga, also a former Minister of Finance, stated that the pension industry is now one of the best-regulated sectors in Nigeria.

PenCom remains committed to the effective regulation and supervision of the pension industry to ensure that retirement benefits are paid as and when due.

Chinedu Eze A former Special Advisor on Investment and Rapid Airport Development to the Minister of Aviation, Dr. Daniel Tarka has said in order to solve the major problem in air transport in Nigeria, which is obsolete infrastructure, the federal government should fully embrace public private partnership (PPP).

Tarka who spoke to THISDAY in exclusive interview on Wednesday, said investing in aviation infrastructure through PPPs can fuel economic growth, improve airport facilities, including runways and air traffic management systems. He remarked that it would attract more airlines, leading to increased connectivity in air travel, adding that it will in turn, boost tourism, trade, and investment, thus driving overall economic expansion.

He said such investment by the private sector would also create more jobs because the development and modernisation of aviation infrastructure require a substantial workforce, leading to job creation in various sectors, cutting across construction workers and engineers to aviation professionals and service providers.

He said PPPs would also generate employment opportunities, reducing unemployment rates and contributing to increased disposable incomes.

“It will also increase revenue generation because it will provide a more efficient and modern aviation sector, which will contribute to increased revenue generation for the government. With enhanced connectivity, tourism inflows will rise, leading to higher tourism-related revenue through VAT, hotel taxes, and other fees. Additionally, increased air travel results in greater airport revenue from passenger fees, fuel taxes, and other charges.

“So, adopting the PPP model will attract private sector investments, reducing the burden on public finances. Such partnerships bring in the expertise, innovation, and financial resources of private companies, ensuring efficient project execution and long-term sustainability. It allows the government to allocate its limited resources to other priority areas,” Tarka stated.

He also observed that this would enhance regional integration and trade facilitation, explaining that a well-developed aviation infrastructure enhances regional integration and trade facilitation.

“Efficient airports and air traffic management systems enable seamless movement of goods, services, and people within Nigeria and with neighboring countries. This promotes regional trade, cross-border investment, and economic integration, bolstering economic cooperation and development. It also promotes tourism because improved aviation infrastructure and connectivity increase the attractiveness of Nigeria as a tourist destination. Better airports, smooth travel experiences, and increased air routes attract more international tourists, leading to a boost in tourism revenue and sustained growth in this sector. The tourism industry also supports the development of related sectors like hospitality, entertainment, and transportation,” he added.

He also observed that investment in airport infrastructure will have spill-over effect that will have positive impacts of aviation infrastructure development through PPPs that will extend beyond the aviation sector itself.

“There will be the upgrading of airports and related facilities. This will stimulate demand for other industries such as construction, hospitality, retail, and transportation. These spillover effects create business opportunities, stimulating of local economies, and contribute to overall economic diversification. Overall, the implementation of PPPs

in aviation infrastructure reforms is expected to create a multiplier effect, fostering economic growth, job creation, private sector investment, and increased revenue for the Nigerian economy by 2030. It also positions Nigeria as a competitive player in the global aviation industry and strengthens its position as a regional economic hub,” he said.

Identifying the problems bedeviling the Nigerian aviation sector, Tarka said inadequate infrastructure remained one of the primary challenges, which include airports, runways, and air traffic management systems, noting that many airports in Nigeria are outdated, lacking modern facilities and technologies.

He also said safety and security concerns remained significant challenges in Nigeria’s aviation sector, remarking that there have been instances of accidents and security breaches in the past, highlighting the need for strict adherence to international safety standards and effective security measures.

Tarka who is currently a Trade Advisor with EuroExim Bank Limited, said although Nigeria has made progress in establishing regulatory bodies such as the Nigeria Civil Aviation Authority (NCAA), there was need for continuous improvement in the regulatory framework, adding that the industry requires robust and enforceable regulations to ensure compliance, prevent monopolies, and promote fair competition.

“The aviation industry in Nigeria faces a shortage of skilled and trained personnel across various areas, such as pilots, air traffic controllers, and maintenance technicians. Addressing this challenge requires investing in aviation education and training programs to develop a qualified workforce to sustain the sector’s growth.

“To generate adequate funding, attracting private sector investments for infrastructure development and modernization is crucial. Nigeria needs to create an enabling environment for investment, including transparent policies, favorable regulations, and incentives to attract both local and foreign investors. In the area of connectivity and regional integration, Nigeria’s aviation sector can benefit from improved connectivity within the country and enhanced regional integration.

Developing air transport agreements and partnerships with neighboring countries can boost tourism, trade, and economic growth. Also, as the world increasingly focuses on reducing carbon emissions and promoting sustainable practices, the aviation sector faces the challenge of balancing its growth with environmental concerns. Nigeria needs to adopt more sustainable and eco-friendly practices to minimize the impact of aviation on the environment,” Tarka said.

To address the aforementioned challenges, Tarka said the Nigerian government had in the past implemented several reforms in the aviation sector over the years. He however said that despite these reforms, the aviation industry in Nigeria still faces significant challenges, including poor safety records, high operational costs, and inadequate infrastructure. He stressed the need to explore new approaches and strategies that can help to overcome these challenges and position the industry for sustained growth and development.

According to him, “One approach is to leverage technology and data-driven solutions to optimize air commerce. With the increasing adoption of digital technologies in the aviation industry, there is a need for Nigeria to develop algorithms and analytical tools that can help to optimize operational efficiency, improve safety, reduce costs, and enhance the passenger experience.

The story continues online on

www.thisdaylive.com

T H I S D AY ˾ FRIDAY, JANUARY 19, 2024

25

BUSINESSWORLD

MARITIME

Adeniyi’s Transformation of Nigeria Customs Service Eromosele Abiodun highlights major success recorded by the Comptroller General of the Nigeria Customs Service, Mr. Bashir Adewale Adeniyi, since he assumed office about eight months ago

W

hen he assumed office as the Comptroller General of the Nigeria Customs Service (NCS), on June 25, 2023, Bashir Adewale Adeniyi promised to turn around the fortunes of the service. Eight months after, it is clear even to cynics that Adeniyi has transform the Nigeria Customs Service.

The Nigeria Customs Service under the leadership of Adeniyi, has shown a positive performance in revenue collection. He has galvanized stakeholders in the maritime industry preaching about the need to put Nigeria first as enshrined in the campaign manifesto of President Bola Ahmed Tinubu.

He has improved revenue collection through various measures, including optimising revenue collection, plugging revenue leakages, and addressing gaps in the customs clearance process. Last year the service generated a record N3.2 trillion revenue, representing a 21.4 per cent increase compared to the previous year.

Appointed by President Bola Ahmed Tinubu in June 2023 in acting capacity, stakeholders in the maritime industry lauded the move as a square peg in a square hole and since then, Adeniyi has hit the ground running.

Assuming the helm of affairs of the service October last year as the substantive Comptroller General of Customs, Adeniyi vowed to reposition the service to tackle its failure to maximise its capacity in revenue generation and insulate the economy from the menace of smuggling and in less than five months in office, different operational zones across the country have stepped up their ante for improved service delivery to Nigerians.

He also promised to collaborate with stakeholders in an attempt to find lasting solutions to resolve the challenges in cargo clearance procedures.

Prior to his appointment, the service collected an average revenue of N202 billion monthly in the first half of 2023, which later increased to over N333.9 billion in October representing a 65.5 per cent increase.

Courtesy of an effective and efficient partnership with the National Assembly, the Service has been strengthened to achieve an unprecedented increase in revenue generation.

REVENUE GENERATION In less than three months as the substantive Comptroller General of Customs, Adeniyi has prioritised efforts in blocking revenue leakages particularly in the context of the Nigeria Customs Service. According to him, this effort aims to improve revenue generation and maximise the remittance of accrued revenue.

His role in minimising revenue leakage is seen as a collective responsibility, and there is recognition of the impact of such efforts on progress and revenue generation. The collaboration between the Nigeria Customs Service and the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) is part of the initiative to curb revenue leakages and boost federal income.

While setting a target of generating N6 trillion revenue in 2024, Adeniyi also stated that the NCS will drive more efficient, transparent, and revenue-optimised operations in 2024.

The customs boss expressed his commitment to revenue generation while also outlining innovative strategies to achieve the NCS’s revenue targets.

Recently, he said improved revenue collection in the second half of the year played a crucial role in significantly reducing the revenue shortfall by 10 per cent from N532 billion to N478 billion last year.

ESTABLISHMENT OF RRR TEAM In a bid to further strengthen the NCS’s revenue generating capacity, the customs boss, established a Revenue Review Recovery Team, dissolved the existing Strike Force Teams, and streamlined enforcement under the Federal Operations Unit (FOU).

The Revenue Review Recovery Team ‘s primary role is to identify operational inefficiencies, human errors, and fraud. The team was also mandated focus on recovering lost or uncollected revenues due to these factors, ensuring compliance with customs regulations, laws, and procedures. The team

“We need to motivate our officers a little bit more because the last time we reviewed their salaries was over five years ago and I think we are due for another review and we will also take a second look at some of the allowances have been taken to do their jobs.

We will also look at exit packages for officers who are retiring so that they will concentrate on the job while they are on active service, “he stated.

Under his watch, 50 Officers of Junior (Course 16) graduated from the Nigeria Customs Command and Staff College in Gwagwalada, Abuja. The feat was of the commitment of the staff college’s dogged efforts to refine the work efficiency of the Officers and Men of the Nigeria Customs Service through training and re-training.

FACILITATING THE NEW NCS ACT Recently in an interview on Arise News Channel, broadcast arm of THISDAY Newspapers, Adeniyi said he is working on implementing the new Nigeria Customs Service NCS Act. The NCS Act, 2023, aims to strengthen the capacity of the Nigeria Customs Service (NCS) to achieve fiscal policies of the government and enhance its efficiency and effectiveness.

He added that Customs need an act that creates the right environment to facilitate trade in its contribution to making Nigeria a profitable trading community.

According to him, some of the provisions in the Act envisages that in 2024 and beyond, his administration will be carrying out more practical efforts to achieve its mandate.

“I talked about initiatives and provisions such as the use of authorised economic operators. This has been provided for and particularly, the Dispute Resolution System to ensure that Customs will not be the accused and the judge in cases that involves importers and agents. We have taken measures to begin implementation of this initiative from the first quarter of 2024,” he said.

Adeniyi

“The appointment of Wale Adeniyi as the substantive CG of Customs came at the most auspicious time to begin to repair and heal the damage of eight years in the psyche of the service. It also came at the time the service needed to be refocused and reposition among STAKEHOLDERS’ COMMENDATION comity of Customs Administrations across the globe.” Industry stakeholders have applauded the will also ensure that all available income streams are collected and documented, adhering to the relevant customs regulations and laws.

The team tracks and analyzes revenue performance to identify potential bottlenecks or delays that may need attention The team was also directed to develop strategies to improve overall performance and recover lost revenue.

Harping on effective stakeholders collaboration, the team will work closely with various stakeholders, including customs officers, importers, and exporters, to ensure the successful implementation of revenue recovery strategies By focusing on these key areas, the Revenue Review Recovery Team aims to optimize revenue collection and contribute to the financial health of the Nigeria Customs Service.

Other notable policy changes included the strategic reassignments of Customs Area Controllers, the creation of an ideas bank, and extensive stakeholder engagements – all of which collectively contributed to the impressive rebound in customs revenue generation last year.

MASSIVE SEIZURES Under Adeniyi’s leadership, the NCS has made significant seizures of contraband and illegal items imported or smuggled into the country.

For instance, in Ogun State, the Ogun 1 Area Command seized 1,436 used Pneumatic tyres, 53 sacks, and 569 parcels of Cannabis Sativa, weighing a total of 1,179 kilogrammes, and 3,149 bags of foreign parboiled rice, each weighing 50 kilograms. In July and August 2023, the NCS secured 1,763 seizures worth N11.9 billion to deter smuggling. In October 2023, the NCS reported a total of 1763 seizures worth N11.9 billion in July and August 2023. According to him, these seizures

demonstrate the NCS’s commitment to protecting Nigerians from the actions of smugglers and other undesirable elements.

With his supervision, the Nigeria Customs Service, Federal Operations Unit Zone A Ikeja, intercepted imported used cars (tokunbo), bags of foreign parboiled rice, and other contrabands worth N1.8bn.

The seizures which took place at various times and locations within the border corridors of the South-Western States ensured that other items such as 35,100 liters of premium motor spirit, 1,100 liters of diesel, one 40-foot container carrying 360 bales of used clothes. One 40-foot container containing 150 cartons of ladies’ handbags, 50 bales of nickers, one 20-foot container of unprocessed wood were seized.

Adeniyi also handed over seized illicit drugs to the National Drug Law Enforcement Agency (NDLEA) in Abuja, and also declared an emergency against drug abuse in collaboration with NDLEA. The seizures were 14,340 kilograms of parcel of compresses indian hemp, 660 packs of Tramadol, 225mg, 50 parcels of books, 292 Jumbo sacks, 1,461 compressed Indian Hemp, 1,765 packs of Indian hemp, 960 sacks (1kg each), 2,042 packets of D5 and others.

OFFICERS’ CAREER DEVELOPMENT Under his reign, a number of capacity development programmes have been organised locally and internationally for officers. During the second half of 2023, a total of 6000 officers travelled abroad for different capacity programmes. He also facilitated the completion of the promotion exercise for its staff where over 2,400 officers have benefited from the scheme. Going forward in 2024, the NCS boss said he has a vision of using staff motivation to achieve a N5.1 trillion revenue target.

NCS boss stressing that his performance in just a few moths in office showed that President Tinubu made the right choice.

Speaking, the President of the National Association of Government Approved Freight Forwarders (NAGAFF), Tochukwu Ezeisi, said that freight forwarders are happy for the first time in years because “our issues are being discussed and decisions are taken immediately.”

“Adewale has shown seriousness in achieving his three-point agenda by bringing back this Conference, which is an avenue to listen to stakeholders, and we are ready to always work with the Service.” He added.

The Deputy President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Kazeem Isa Adua, stated, “The CGC has done well in organizing this Conference and with the positive body language seen today. We should expect a smooth and optimized clearance process soon”.

On his part, the Secretary General of the Customs Consultative Council, Eugene Nweke, noted that Adeniyi’s appointment is tantamount to placing a round peg in a round hole, given his wealth of experience, training and exposure as a former National Public Relations of the service.

According to him, the appointment is even more strategic given the timing, having come after eight years of imposition of a military officer as the head of a very specialised agency such as the Customs, which came with a lot of distortions in the processes of the service, discontent among the entire workforce and the unfortunate balkanisation of the image of the service among the comity of trading nations.

“The appointment of Wale Adeniyi as the substantive CG of Customs came at the most auspicious time to begin to repair and heal the damage of eight years in the psyche of the service. It also came at the time the service needed to be refocused and reposition among comity of Customs Administrations across the globe, “he said.

26

FRIDAY, JANUARY 19, 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 17Jan-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 17.45% Afrinvest Plutus Fund 100.00 100.00 9.11% Nigeria International Debt Fund 342.35 342.35 11.01% Afrinvest Dollar Fund 110.61 110.61 0.34% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.74% AIICO Balanced Fund 5.55 5.68 9.91% 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 234.27 237.16 21.05% Anchoria Fixed Income Fund 1.31 1.31 2.10% 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 35.50 36.58 16.22% ARM Discovery Balanced Fund 725.98 747.87 9.59% ARM Ethical Fund 60.23 62.05 10.46% ARM Eurobond Fund ($) 1.11 1.11 -120.47% ARM Fixed Income Fund 1.10 1.10 -103.17% ARM Money Market Fund 1.00 1.00 10.74% ARM Short Term Bond Fund 1.01 1.01 10.90% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.43 106.43 725.00% AVA GAM Fixed Income Naira Fund 1,165.53 1,165.53 940.00% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 2.25 2.25 10.27% CEAT Fixed Income Fund 3.62 3.72 N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.02 1.02 8.57% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CHD Nigeria Bond Fund N/A N/A N/A CHD Nigeria Dollar Income Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 11.53% Cordros Milestone Fund 187.84 189.31 8.64% Cordros Fixed Income Fund 108.05 108.05 6.98% Cordros Halal Fixed Income Fund 109.85 109.85 8.99% Cordros Dollar Fund ($) 114.79 114.79 7.07% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 10.37% Coronation Balanced Fund 1.70 1.72 11.38% Coronation Fixed Income Fund 1.43 1.43 91.82% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1555.62 1555.62 11.98% FBN Balanced Fund 298.97 301.73 10.56% FBN Halal Fund 134.47 134.47 13.17% FBN Money Market Fund 100.00 100.00 11.46% FBN Dollar Fund 124.35 124.35 7.47% FBN Smart Beta Equity Fund 293.90 298.40 18.19% FBN Specialized Dollar Fund 112.34 112.34 9.23% 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 6,600.28 6,655.79 N/A Legacy Debt Fund 4,012.65 4,012.65 7.99% Legacy Equity Fund 100.00 100.00 11.79% Legacy USD Bond Fund 1.20 1.20 0.00% 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 6,562.95 6,617.07 N/A Coral Income Fund 4,013.55 4,013.55 8.01% Coral Money Market Fund 100.00 100.00 11.85% 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 21.37 21.54 16.34% Meristem Money Market Fund 10.00 10.00 12.44% 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 2.68 2.72 15.27% PACAM Fixed Income Fund 2.64 2.67 -9515.77% PACAM Money Market Fund 10.00 10.00 0.00% PACAM Equity Fund 2.64 2.67 22.16% PACAM EuroBond Fund 131.21 134.44 -0.52% 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 1.01 1.01 11.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 5,496.33 5,543.30 10.39% Stanbic IBTC Bond Fund 256.34 256.34 4.04% Stanbic IBTC Ethical Fund 2.34 2.37 13.77% Stanbic IBTC Guaranteed Investment Fund 356.15 356.40 0.83% Stanbic IBTC Iman Fund 442.16 447.71 17.23% Stanbic IBTC Money Market Fund 1.00 1.00 11.32% Stanbic IBTC Nigerian Equity Fund 21,674.25 21,946.07 19.51% Stanbic IBTC Dollar Fund (USD) 1.47 1.47 7.05% Stanbic IBTC Shariah Fixed Income Fund 128.72 128.72 6.71% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 126.51 126.51 9.40% Stanbic IBTC Absolute Fund 5,032.57 5,032.57 8.34% Stanbic IBTC Aggressive Fund 6,577.48 6,659.97 22.25% Stanbic IBTC Conservative Fund 5,745.96 5,776.62 8.75% 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 1.65 1.67 21.50% United Capital Balanced Fund 2.08 2.10 12.57% United Capital Wealth for Women Fund 1.62 1.64 14.07% United Capital Sukuk Fund 1.18 1.18 9.31% United Capital Fixed Income Fund 1.96 1.96 7.28% United Capital Eurobond Fund 124.63 124.63 5.30% United Capital Global Fixed Income Fund 1.09 1.09 10.12% United Capital Money Market Fund 1.00 1.00 10.19% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 20.57 20.83 11.60% Zenith ESG Impact Fund 23.98 24.21 10.08% Zenith Income Fund 25.43 25.43 0.40% 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 -99.33%

REITS NAV Per Share

Yield / T-Rtn

130.01 59.97 101.79 11.09

0.11% 0.23%

Bid Price

Offer Price

Yield / T-Rtn

N/A 726.00 810.10 26.49 43.02

N/A 726.00 810.10 26.88 43.49

N/A 45.20% 12.98% 12.68% 14.20%

NAV Per Share

Yield / T-Rtn

N/A

N/A

Fund Name

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

0.00%

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

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

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

This

Weekend

FRIDAY, JANUARY 19, 2024

Group Features Editor: CHIEMELIE EZEOBI chiemelie.ezeobi@thisdaylive.com

07010510430

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UTH

& R E ASO

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WEEKLY MAGAZINE

JANE KIMEMIA

Championing Optiva Capital’s Commitment to $5B Diaspora Direct Investments

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COVER

Jane Kimemia: Championing Optiva Capital’s Commitment to $5B Diaspora Direct Investments Ms. Jane Kimemia is the Managing Director/CEO of Optiva Capital Partners Limited, easily the largest provider of second citizenship and residency services in Africa. With a rich background in the financial services sector spanning over two decades, Chiemelie Ezeobi writes that Kimemia’s transformational leadership at Optiva Capital is driven by creativity and innovation, but also guided by the pursuit of purpose to achieve holistic enterprise goals, one of which being to champion the organisation’s commitment to 5billion dollars Diaspora Direct Investments

I

nnovation and creativity are essential for the success of any business organisation.

Exploring new horizons of knowledge, finding solutions for problems, meeting unmet customer needs by using new and innovative methods, stand organisations apart.

Creativity is what sparks big ideas, challenges employees’ way of thinking and makes way for new business opportunities.

Creativity and innovation require vivid ideas and the ability to see things from different perspectives, searching for solutions, finding gaps, and filling identified gaps.

It is through organisational learning, which unleashes creativity, the discipline of innovating, that Optiva Capital has developed a laser-focused attention to service through bespoke products that speak to the needs of its clientele – from investment immigration, to wealth advisory services, and insurance, amongst others.

OPTIVA’S WEALTH MANAGEMENT INVESTMENT BOUQUET Now thinking out of the box, the firm has introduced a unique product that will give Nigerians in the diaspora the peace of mind to invest at home without the nagging fear of losing the investments to unscrupulous persons.

It is against this background that the visionary CEO of Optiva Capital Partners, Jane Kimemia, s p e a k s passionately about the organisation’s bouquet of wealth management investment services which were unveiled

at the twilight of 2023.

She described them as “culmination of efforts throughout last year, working with our partners to put together a suite of products, of services, of solutions, in investment services and advisory.”

Add to that, Optiva Capital Partners expansion of its service offering through a remarkable partnership which establishes a formal relationship between Optiva Capital Partners and Polaris Bank Limited With the partnership, Optiva Capital has agreed to collaborate with Polaris Bank to be the provider of Investment immigration, Wealth Management/ Investment Advisory and insurance products to Polaris Bank’s Ultra High Net-worth Individuals.

year, this leading investment immigration wealth management company, has launched a new product tagged Diaspora Investor Direct Investment (DIDI) which targets $5 Billion in direct investments into the country by Nigerians living in the diaspora.

Diaspora Investor Direct Investment (DIDI) according to Optiva Capital Partners is “our unique product to attract diaspora funds and investments into the country.

The objective is to stand in the gap for Nigerians in the diaspora who seek to remit funds home for investment purposes because most of them are afraid of losing their funds to unscrupulous persons or agents, so we bridge that gap.”

DIASPORA INVESTOR DIRECT INVESTMENT (DIDI)

OPTIVA AS A FORCE FOR WOMEN

And now in a bold move to herald the

“As this woman of substance pushes the boundary in creativity and innovation to p propel p the organisation g that she leads as the CEO, she ceaselessly seeks significance g which she describes as impact, about purpose, and alignment to that purpose.”

Speaking about significance and impact Kimemia revealed that “in terms of mentorship, Optiva Capital Partners actually mentors more women to be successful. “ At Optiva Capital Partners, over 70 per cent of our workforce is women. So for us it is not just a one-off thing to celebrate the upcoming International Day for Women, because we are daily committed to empowering our workforce, seventy percent of whom are women, creating opportunities for them to serve, to get better, and to grow a career.

“You know when you raise one woman you raise a generation, because one woman impacts at least five people. So you can then imagine the multiplier effect of that in a workforce of over 1000 people and seventy percent are women.”

ADDRESSING MATERNAL HEALTHCARE THROUGH PARTNERSHIPS On purpose and affirmation of her belief that true wealth lies in the heart, she stated that “we also have community service programs and I would like to mention our initiative with the Lagos State government in maternal health.

Basically it is to address maternal health care and reduce maternal mortality rate in Nigeria because different World Health organisation reports state that Nigeria contributes up to ten percent of the global maternal death.

“So Optiva Capital Partners is playing a pivotal role with the Lagos State government as we have identified primary health care in the Ketu area, so we are rehabilitating an entire primary health care focusing on maternal health care.

“The rehabilitation is the facilities, structures, the equipment, and totally upgrading the healthcare facility, and also the referral hospital so it’s about the entire chain to ensure that women from that particular area are taken care of.”

EMPOWERING MARKET WOMEN Beyond health there is also an initiative to empower market women. an initiative for women in the markets, women at the very end of the pyramid, so it’s about empowering them in terms of how do they get better at their trade, how do they get investments. So, in partnership with a Micro Finance Bank we are helping them to formalise their businesses, structure their businesses so that they can get financing and scale up their businesses.”

KIMEMIA AS A BUSINESSDRIVEN, INNOVATIVE CEO But Jane Kimemia, the amazon, is not only about the creativity and innovation that deliver stellar organisational financial performance. With a rich background in

the financial services sector she recognises also that true wealth lies not in the pocket but in the heart.

She lives and leads by the values she has learnt from her encounter and reading of “Halftime” by Bob Buford which provides encouragement and insight to propel any one on a new course to true significance – by taking stock of successes and accomplishments; and redefining significance and what it means to each person.

Jane Kimemia is today steadfastly living her learnings from this book that obviously impacted her life and thriving career as she immerses herself and the organisation that she leads as CEO in life-changing social responsibility initiatives, the empowerment of the womenfolk in Optiva Capital; and the uplifting of women in the lower-rung of business, amongst others.

A deep-dive into the career trajectory of Jane Kimemia can throw light on how this successful professional, business leader, and entrepreneur, has devoted quality time and energy into getting to where she is today.

This amazon who is re-writing the investment immigration landscape in the country has extensive experience in general management, with a track record of setting up and building sustainable businesses. Her specialisation is in wealth management and working with high-net worth clients.

As the Chief Executive Officer of Optiva Capital Partners, Jane Kimemia, a product of the Executive Education Programme of INSEAD Business School, France, has overseen the sustained and impressive growth trajectory of this leading investment immigration firm.

Prior to her current CEO role, Ms. Kimemia had a successful career in the banking sector of the financial service industry, having worked with two international banks, Standard Chartered Bank (SCB) and Barclays Bank for a combined period of 20 years.

She was the Executive Director and Head of Wealth Management at SCB, with responsibility for investments services, banc assurance and foreign exchange for an entire region. She was also Managing Director of Standard Chartered Investments Services (SCIS), one of the bank’s subsidiaries and was Managing Director at the Standard Chartered Insurance Agencies Limited (SCIAL).

Jane Kimemia also served as the General Manager of Priority and International banking at Standard Chartered Bank, where she spearheaded the setting-up, establishment and management of the Priority Banking proposition for highnet-worth clients across regions. Prior to joining Standard Chartered Bank, she had worked for Barclays Bank holding senior positions including Head of Premier Banking; and Head of Scheme Loans.

Not surprisingly, late last year, in recognition of her immense contributions to humanity, and affirmation of her enduring value that true wealth lies in the heart, Ms. Jane Kimemia was conferred with an Honorary Doctorate Degree (Honoris Causa) of Men and Women of Influence Global Award by Highstone Global University Texas USA. In the citation, the university commended Kimemia for her commitment to the Sustainable Development Goals (SDGs) of the United Nations which is a universal call to action to end poverty, ensure good health and well-being, protect the planet, and ensure that all people enjoy peace and prosperity.

So, as this woman of substance pushes the boundary in creativity and innovation to propel the organisation that she leads as the CEO, she ceaselessly seeks significance which she describes as impact, about purpose, and alignment to that purpose.

According to her, “though I am still in the financial services industry, it’s a larger platform to serve, to continue to be aligned, to continue to use my personality to make impact for service.”

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NEWS

Beauty in the Motherland Celebrates Innovation, Creativity Stories by Mary Nnah The maiden edition of “Beauty in the Motherland”, a beauty fair, held recently at the Eko Convention Centre, Victoria Island, Lagos was not just an avenue where innovation and creativity were celebrated but also a spectacular showcase of beauty, innovation and talent which left participants with inspiring experiences.

The Convener, Beauty in the Motherland, Linda Edozien, said the event was initiated to provide a platform for beauty industry operators to showcase their products while echoing the essence of black skin and its beauty to the world.

Speaking further on the essence of the event, she said, “More importantly we want to change the narrative of the Nigerian beauty industry that avails people the opportunity to question the beauty in the black skin, hair, etc. This is why the exhibition is by our people and for our people and that is why it is called ‘Beauty in the

My Nigerian Folktales -YouTube channel

Beauty in the Motherland facilitators during the event Motherland’, it is about us.”

The event’s opening ceremony featured a blend of traditional and modern performances, showcasing the rich cultural tapestry of the host city.

Another interspersing part of the event was the exhibition area, where businesses and entrepreneurs displayed their latest

offerings. Innovative services and groundbreaking products were on full display, drawing crowds eager to experience the industry’s future firsthand. The exhibition provided a platform for showcasing new ideas and facilitated meaningful networking and collaboration opportunities.

The event also featured a series

StoryTime with Kody -YouTube channel

of conferences which ran simultaneously with the exhibitions, featuring industry leaders and experts who shared insights on current trends, challenges, and prospects. These sessions were not only informative but also interactive, encouraging dialogue and the exchange of ideas among participants.

to Canada through its Thrillers Empowerment Scheme.

The 50 out of 106 people who got theirVISAslastweekinLagosjoined in September 2023 when Thrillers Travels unveiled its operation as a business in Nigeria.

Speakingduringthepresentation ceremony at the Thrillers Travels’ office in Lagos, the Co-Founder/ Chief Executive Officer of Thrillers Travels,Dr.MosesAdebisiotherwise known as ThisdayMoses said that

“Unlike other travel companies in Nigeria, Thrillers Travels is aimed at ensuring that Nigerians gained necessary knowledge in other counties and returned to rebuild the country.”

“We are an empowerment platform and the vision is not about money but national development.

Webelievethatexposureplaysacritical factor in national development therefore, we believe that when Nigerians travel to other parts of

the world, they should be able to returnandbuildthecountrybased on what they have learned in other environments”, he added.

Herevealedthat“theVISAsthat have been given out today are free of charge. The beneficiaries only paid the sum of N250,000 VISA processing fee and we took care of every other thing. Our VISA is processed outside Nigeria in conjunction with our partners in Canada.”

Old Grammarian Society Admonishes Old Students As the new year 2024 sets in, it is imperative and early enough to ginger Old student Associations of the citadel of learning across the country of the need for periodically organised reunions to contribute their quota towards their Alma Mater that gave them a good foundation.

The advice was given by discussants at the two-day reunion of the set 1972-76- 1978 “Old Grammarian Society” of the CMS Grammar School, Bariga, Lagos.

It was an atmosphere of joy and remembrance of their activities while in the school, after about fifty-one years of

graduating, from the school.

Speaking on the importance of the reunion, the Sets’ Chairman, Mr Akintola Enilolobo said the event allowed them to rekindle their friendship and duty to the school, after fifty -years of leaving the school Enilolobo said the occasion was also to revamp the commitments of Old Grammarians through the development of the school.

Contributing, the Chairman Board of the Governor of the School, Prof Afolabi Leshe explained that the important role of alumnae of Schools cannot be overemphasized Leshe noted that the school

has produced many prominent Nigerians including, former interim President of Nigeria, Late Chief Ernest Shonekan, Late Chief Akintola Williams, the Former Director General of FRCN, and Reverend George.

In a sermon, the executive secretary of Lagos Anglican School Management Board, venerable Victor Olusa reminded the old grammarians that the purpose of the thanksgiving service was an opportunity to acknowledge and appreciate their creator for keeping their lives till date.

Olusa who reminded the celebrants of the grace of God

WIEN Celebrates Excellence, Resilience at Award Night The Women in Energy Network (WIEN) recently gathered during its 2nd dinner /award night to celebrate excellence, achievement, and the collective strides they have made in fostering gender diversity andempowermentwithintheenergy industry.

Speaking during the the Award NighthostedatWheatbakerHotel, Ikoyi Lagos, WIEN President, Mrs Eyono Fatai-Williams, said, the gathering was not just a celebration ofsuccessbutalsofortherecognition of the resilience, dedication, and innovationdisplayedbywomenwho haveleftindeliblemarksintheenergy sector.

“Itisalsoareflectionthatourcommitmenttofosteringamoreinclusive anddiverse energy landscape has never been stronger, and tonight’s awards ceremony stands as a testament to the incredible talent and excellence within our network”, she said.

Speakingfurther,sherecalledthat over the past year, the Women In EnergyNetworkhasbeencommitted to creating meaningful impact through a varietyofinitiatives.

Folktales are stories told in different traditional versions with the sole aim of teaching a vital lesson, especially to children. It can be told in the form of fables, ghost stories and tall tales. From the 1980s to late 1990, there was a show on Nigeria Television Authority (NTA) titled ‘Tales by Moonlight’, anchored byAuntie Nkem Orakwe as she was popularly called.

The story was targeted at young children teaching them important lessons through folktale stories. This made folktale stories a channel through which children can learn good morals. Children can grow to become more responsible adults and make their parents and society proud if more attention is given to folktale stories as a way of educating your children. Happily, there are several media currently using folktale stories to better the lives of our young ones. This includes: The first is a platform anchored by Bisola Olorunfemi the content creator of My Nigerian Folktales, she is a voice-over artist, a scriptwriter, a graphics designer, a 2D motion animator and an editor. Bisola started her YouTube channel, My Nigerian Folktales as a result of her passion for animation and the culture of Folktale storytelling. Her channel has over 6 million lifetime views with over 100,000 subscribers. She recently received a YouTube award for this significant subscription milestone.

Inene is her most popular video with about 1.3 million views.

Excitement as Thrillers Travels Presents Free Canadian Visa to Beneficiaries Therewasexcitementandecstasies at the corporate headquarters ofThrillersTravelsintheLekkiarea of Lagos State as the company presented 50 persons with Canadian workVISAsignalingthebeginning of the fulfillment of the company’s promise to empower a new set of Nigerians with work VISA to Canada and Europe.

It would be recalled that Thrillers Travels has earlier empowered 1000 beneficiaries with work visas

TOP 5 FOLKTALES MEDIA TEACHING CHILDREN MORALS

Noting that one of the group’s standoutaccomplishmentshasbeenthe launchoftheWIENWomanPodcast,a platformthatallowsthemtoamplifythe voicesofinspiringwomenintheenergy sector, sharing their stories, insights, experiences, and expertise. The podcast has not only amplified ourmission but has also served as a source of inspiration for many aspiring professionals.

She noted further that WIEN’s commitment to knowledge sharing is evident through a series of Masterclasses and Webinars organised by WIEN, which led to the creation of the WIEN Newsletter, launched earlier in the year and has beenabeaconof information and trends within our network and the industry.

WIENMentorshipProgramme, Fatai-Williams noted “stands as a shining example of our dedication to nurturing the next generation of female leaders in the industry. By fostering meaningful connections and providing guidance, we pave the way for success and create a supportivenetworkthattranscends boundaries.”

She advised members that in the spirit of unity and empowerment, they should take a moment to appreciatethebondstheyhaveforged within the network, adding, “The Women in Energy Network is not merelyanassociation;itisafamilythat nurtures talent, fosters mentorship, andencouragesthenextgenerationof womentoreachevengreaterheights.”

As the women delved into the awards ceremony that night, Fatai-William,remindedthemthat every nominee and award recipient represents a story of resilience, innovation, and an unwavering commitment to driving positive change, and each accolade is not just a recognition of individual accomplishments but a celebration of collective triumphs.

‘Together,weamplifyourimpact, making strides towards a more inclusive, diverse, and prosperous energy landscape’, she added.

TheWIENwasquicktoextendher deepestgratitudetoallsponsors,allies, andmemberswhohavecontributed to the success of the event and the overall achievement of the Women in Energy Network.

to be alive, urged them to always be truthful, stand for justice, live with pure heart and rejoice even in the face of present challenges.: A keynote speaker at the event, the immediate past vice chancellor of the University of Lagos, professor Oluwatoyin Ogundipe advised the celebrants to be mindful of their health, take care of family members, throw back to their alma mater and serve God. Ogundipe also advised them on what to do about their children’s positive upbringing.

Chairman of the CMS Grammar School Old Student Association, Mr. Akintola Enilolobo

Story Time with Kody, also known as Onu-Etim Cynthia, Kody is a media entrepreneur, PR manager, Children’s entertainer and founder of the popular Kody And The Kids. She has been in the children’s “edutainment” industry for nearly a decade. She started as an on-air personality with the prestigious indigenous radio station, Wazobia FM, and was arguably one of the first radio personalities to promote the culture of folktale storytelling on a radio station in Lagos state, reachinghundredsofthousandsoflistenerseachtime.Sheisthecontent creator of Story Time with Kody, a YouTube channel with over 50,000 subscribers and over 4 million lifetime views. Her most popular story is The Fisherman And The Princess Fish with over 800,000 views.

Kody believes that folktales serve as a foundational tool for building integrity, empathy and a child wholesome child.

Grandma Wura Brand

Bola Edwards: Simply known as Grandma Wura, Bola is an actor, dancer, voice talent, writer, producer and social entrepreneur. She is a graduate of Performing Arts, co-founder of a children’s content creation company known as Proud African Roots and the personality behind the Grandma Wura brand. Since starting the Grandma Wura brand in 2015, Bola has promoted the culture of Folktale storytelling through performances in theatres, schools, and most recently, on TV with Grandma Wura’s Story Hut. She focuses on using storytelling, entertainment and arts as educational tools that help develop children while raising a new generation of leaders who will erase the leadership challenges of Africa. Bola’s ‘’grandmother’’ personality endears her to the children she reaches out to. No

NNe’s Folktale - YouTube channel

Nina Onya, is a food content creator, storyteller, voice-over artist and content creator of NNe’s Folktale a YouTube channel that has garnered nearly 70k subscribers. Nina started her YouTube channel in 2022 and came prepared, putting up interesting animated folktale videos every other day. She so far has about 130 videos and over 6 million lifetime views.

Her most popular video is Aku The Blind Girl with over 400, 000 views.

Defunct Tales by MoonLight -NTA

From the 1980s to late 1990, there was a show on Nigeria Television Authority (NTA) titled, ‘Tales by Moonlight’, anchored by Auntie Nkem Orakwe as she was popularly called. The story was targeted at young children teaching them important lessons through folktale stories. This made folktale stories a channel through which children can learn good morals.

The defunct Tales by Moonlight was a household name in those good old days that shaped some of our responsible charismatic leaders and citizens today. In conclusion, folktale stories are essential channels for educating our children so they to learn vital lessons and cherish good moralswhichwillmakethemwell-behavedbothathomeandinpublic.

Build-A-Thon: FG’s Education Initiative Promises 4 Days of Immersive Learning in Owerri, Maiduguri, Abeokuta In a unique and informal setting in the heart of London, Enitan Kehinde, the General Manager and Lead Consultant, of global PR consultancy, BHM’s operations in the UK, addressed the University of Westminster’s MA Public Relations students delving into the intricacies of Public Relations (PR) in a global context. The session’s focus was on ‘PR in a Global Context’, prompting discussions on the nuances of PR across different regions and the factors shaping PR operations in diverse cultures. Drawing from her extensive experience, Enitan explored these questions and more, shedding light on the unique challenges and opportunities that the global PR landscape presents.

Enitan shared insights into the operations of BHM Holdings, originally founded in Lagos, Nigeria and now with offices in London, Edinburgh,

Accra and Nairobi and operations across Africa and the UK. The talk included a comparative analysis of the PR environments in these two regions, offering students a real-world perspective on the dynamic nature of PR practice.

Reflecting on the event, Enitan remarked, “It was truly enriching to engage with the next generation of PR professionals. The questions posed by the students were insightful and demonstrated a genuine curiosity about the global dynamics of public relations. I am hopeful that our discussion has ignited a passion for understanding and navigating the complexities of PR in different cultural contexts while enriching the practice in the UK.” Enitan who in recent years has been recognised by industry regulators and thought leaders across both regions for achieving

significant feats with the team at BHM in building people, platforms, reports, resources and initiatives like World PR Day, the BHM Guide to Public Relations and the Nigeria PR Report now Africa PR & Communications report among others spoke on the importance of upskilling new industry entrants saying, “With our work at BHM, the goal is to not only educate and develop new practitioners, young consultants and leaders but also shape the future of the global PR and communications industry and I’m grateful for the opportunity to do so at the University of Westminster.”

Enitan has, in the last month, been on a University tour engaging undergraduate and postgraduate students at key institutions like the University of Westminster, University of Gloucestershire and Sheffield Hallam University, where she had attended eight years ago.

˜ ͯͷ ͰͮͰͲ ˾ T H I S D AY

30

METRO

…Your city life in print

Former Enugu Governor and the Legacy of Nsukka Press Centre Samson Ezea

T

here is no doubt that Nsukka, once a sleepy town in Enugu North Senatorial zone, now boisterous and bubbling courtesy of massive infrastructural development provided by the immediate past administration in Enugu State has a place in history for many good reasons.

Apart from housing the prestigious University of Nigeria Nsukka (UNN), newly established State University of Medical And Applied Sciences (SUMAS) Igbo Ano and Federal Polytechnic Ohodo and others, foremost Nigerian leader and renowned journalist of international repute, late Dr. Nnamdi Azikiwe, who used the journalism profession to fight for the Nigeria independence alongside other nationalists spent the rest of his life in Nsukka.

In the same vein, the people of Nsukka in Enugu North Senatorial zone have produced many of the finest and renowned journalists in Nigeria. They include Senator Ayogu Eze, Late Obinwa Nnaji, Bar. Chijioke Edeoga, Chijioke Amunnadi, late Dr. Nick Idoko, Chuks Ugwoke, Ike Abonyi, Felix Oguejioffor Abugu, Kenneth Ezea, Dr. Malachy Agbo, Aka Eze Aka, Samson Ezea, Onyekachi Ugwu, Emeka Mamah, Sir Emeka Attamah, Agatha Agu, Mrs Amaka Ukwuaba-Nnaji, Charles Abba, Comrade Aloysius Attah, Nkem Ossai, Francis Edeh, Dr. Ejike Obetta, Emmanuel Ikechukwu, Okechukwu Obetta, Sunday Ani, Alike, Ikechukwu Eze, Linus Aleke, Willy Eya, Emma Nnadozie, James Eze, Sam Otti, Onyedika Agbedo, Dennis Agbo,Romanus Ugwu, Chijioke Attah, Hon. Harrison Ogara, Ikem Okuhu, Ike Okenyi, Paul Oduenyi, Dr. Ike Iyioke, Sam Udekwe and many others.

Despite these outstanding and remarkable feats, the zone had no media edifice or office of repute and standard for the media practitioners and journalists. Even with the establishment of the Nsukka Federated Correspondents Chapel, the zonal arm of NIgerian Union of Journalists (NUJ ), the fourth estate of the realm had no office to operate from.

It was in the light of this that the immediate past administration in Enugu State, with its utmost regard and respect for the press which it saw as partner in development, embarked on the massive rehabilitation of the dilapidated Enugu NUJ Press Centre and construction of a modern Press Centre at GRA Nsukka, which is the first of its kind in the town since independence and establishment.

The Nsukka Press Centre which has 54 seater capacity conference hall downstair, 36 seater capacity hall upstair, 2 VIP lounge, a reception hall and five rooms office space was completed, commissioned and handed over to the Nsukka Federated Correspondents Chapel’s Chairman Comrade Ike Okenyi on May 26, 2023 by the Enugu State Government.

Appreciating God for using the immediate past administration of Ugwuanyi to make the state of art Nsukka Press Centre, a reality, the leadership of the Nsukka Federated Correspondents Chapel on December 30,

Nsukka Press Centre 2023 formally dedicated the dignitying edifice and honoured him and others with prestigious awards for their numerous contributions to the development of society and friendly media relationships.

During the homily, Rev. Fr. Fidel Asogwa urged the members of the Fourth Estate of the Realm to discharge their duties effectively for the betterment of the society.

Also speaking, the representative of Bishop Godfrey Onah, Rev. Fr. Emmanuel Asadu, who is in charge of social communications in the Nsukka Catholic Diocese, thanked the state government for constructing the befitting and long overdue edifice for the Nsukka journalists.

In his appreciative and emotionladen speech titled: “NUJ Nsukka Press Centre...A Promise Fulfilled As A Word Became A Bond.” the Chairman of the Correspondents Chapel, Comrade Ike Okenyi said: “My people, I crave your indulgence to permit me to recognise and welcome in a special way our benefactor, the immediate past administration in Enugu State. Without them we wouldn’t have had reasons to gather here in the first instance. They are the reason we are celebrating today.

“In the words of Alex Banayan,”When I interviewed Maya Angelou, an American poet Laureate ,she told me to write down

this sentence,”EVERY STORM RUNS OUT OF WATER.” And according to the Holy Writ,there is time for everything under the Sun and behold today to the glory of God we are devoting and blessing this monumental land mark signature of the immediate past administration as a symbol of his friendship with the members of the Fourth Estate of the Realm in Nsukka.

Thus Ugwuanyi as a great leader hearkened to advice of Seneca(a Roman philosopher),”every individual bears the responsibility to be of value to society.

If possible, to benefit a large number, if not, to benefit a smaller group;if that too seems unattainable, to benefit their immediate community.”

And of course, according to the great sage, Epictetus,”serving one’s country is not about the position one holds , but about how one uses his abilities and virtues to positively impact the society.”

Frankly speaking, the narratives of the members of the Nigeria Union of Journalists(NUJ),Nsukka was revolutionised and changed positively on Friday May 26,2023 when this edifice standing before you built by the immediate past administration was officially commissioned and handed over to us.It was an evolution and an upsurge of our renewed hope towards playing our roles well in the contemporary society as press men.

“That day, I was reminiscent of the travails of our members about accommodation was concerned dating back to the days of late Dr.Nnamdi Azikiwe as one of the pioneer members.When we look back we are filled with nostalgia , but then we are motivated and consoled thus ,”go laugh in the places you have cried”.Thank you, for wiping away our tears and fears.Thank you, sir.

We appreciate you, sir, for fulfilling your promise of building a press centre for us.”

He continued: “Why the dedication? Well like we do say in my community , Ohebe-Dim in Igbo-Etiti LGA,”mba ji n’akari ihiyi n’oku:(It is dishonourable to roast a very big tuber of yam rather it is peeled, cooked and pounded to be consumed with good soup).In other words, this magnificent building needs a day set aside for it’s dedicated to God before we open it for public use bearing in mind the two conference halls that could be hired for seminars and for other usages.And also we want you to witness the monumental structure established in Igbo Nsukka by the last administration in Enugu state.

“Gratitude is the best of all virtues while ingratitude is the worst of vices.It is in this direction that we say thank you, the immediate past administration in Enugu. Silver nor gold we do not have, but we are appreciative of your administration’s magnanimity and Macedonic help towards our union.”

Speaking in the same vein, the Chairman of NUJ Enugu State Chapter, Comrade Sam Udekwe said: “This is indeed the first of its kind, East of the Niger.

It is a distinct pleasure to stand before you today to celebrate the establishment of this remarkable and influential space and it’s worthy of note that this rare development was achieved during my reign as the chairman of the Union in the state. In fact, we shall remain eternally grateful to the immediate past administration in Enugu state, who deemed it suitable and put this structure in place. This is indeed an epitome of the press-friendly leadership and recognition of the Press as the Fourth Estate of the Realm.”

Members of the Chapel and other awardees which include His Royal Highness Igwe Samuel Ikechukwu Asadu(Jnr), Igwe Ogadagidi of EdemAni Ogwugwu ancient Kingdom, Hon. Dr.Emmanuel Ugwuerua, Alhaji Jimo Rauf Badamosi and Chief Ikechukwu Ugwu(aka Eze Omenife) thanked the leadership of Chapel for honouring them and spoke glowingly about the immediate past administration’s vision of building of a modern Press Centre in Nsukka alongside other legacy projects that have rapidly given Nsukka a face-lift, media recognition and economic buoyancy.

Finally, it is evident that if properly utilized, the Nsukka Press Centre can create employment and generate revenue for its maintenance and sustenance of the Correspondents Chapel. t&[FB XSJUFT GSPN *OEFQFOEFODF -BZPVU &OVHV 4UBUF

Ikeja Electric Reiterates Commitment to Improved Service Delivery In order to ensure the sustainability of its business operations in 2024 and beyond, Ikeja Electric Plc (IE), the leading electricity distribution company in Nigeria, has reiterated its commitment to optimising a collaborative approach to stakeholder management.

This renewed commitment was made during the first virtual stakeholder/customers engagement session for the year 2024.

The company also used the event to express profound appreciation to customers who have been steadfast in their support and constructive criticisms while complaints and challenges were addressed and resolved.

In his remarks, the Company’s spokesperson and

Head of Corporate Communications, Mr Kingsley Okotie (MNIPR), thanked customers for their support in 2023 and assured of visible improvements in service delivery in the New Year.

He reiterated IE’s commitment to safety in the network and advised customers not to get involved in illegalities especially on activities under power lines, or engaging non-certified technicians whose ineptitude can lead to service disruptions, fire outbreaks and eventual loss of lives and property.

He noted that despite the challenging economic situation that is affecting optimal performance of businesses across the country, Ikeja Electric will not rest on its oars in providing qual-

ity service and remarkable experience to its esteemed customers while appealing for the unflinching support of all stakeholders towards achieving the corporate goals and objectives of the company in 2024.

The IE spokesman advised customers not to partake in any form of bribery, nor condone extortion or paying money to staff to influence or fast track service requests, but should formally lodge their complaints through the appropriate channels and obtain a Service Request Number (SRN) to enable tracking of such complaints until its finally resolved.

He revealed that some customers are still engaging in energy theft through meter by-pass, illegal connections

and reconnections, saying that anyone caught involved in such criminal act will be prosecuted.

Speaking on the company’s metering project and the steps involved in obtaining new meters, customers who are yet to apply for meter should do so via www. smartkyc.ikejaelectric.com and provide the necessary requirements such as NIN, valid phone number, email address and other information as may be requested.

He also advised STS Meter customers that are having challenges to ensure that their meters are duly upgraded to the new standard as those who are yet to do so will not be able to load the token purchased.

He said: “In order to

ensure stability of electricity supply through the 33kv/11kv feeders, the company has been regularly relieving overloaded distribution transformers and fencing the unprotected ones in 2023.

“This proactive and preventive maintenance of our infrastructure will continue with more aggression as it has allowed us to reduce our turn-around times.

“We encourage you to contact our toll-free number 081-8000-0741 for prompt Security response as we believe that working together is the most effective way to address the issue of vandalism in the communities”, Okotie said.

He encouraged all customers to take advantage of IE’s whistleblowing platform to

ensure a transparent and accountable system, by reporting all cases of extortion, hostility, and unprofessional conduct through the tollfree lines 08000TIPOFFS, 08008476337, or send an email to expressyourself@ ikejaelectric.com. He assured that all information will be treated with utmost confidentiality and anonymity.

The IE spokesman appealed to customers to make use of the appropriate channels to report activities that border on staff excesses rather than resorting to battery and assault. Customers can also call IE’s customer care hotlines 01-7000-250, 01-227-2940; or send email to customercare@ikejaelectric. com to lodge complaints for prompt resolution.

31

T H I S D AY • FRIDAY, JANUARY 19, 2024

Friday, January 19, 2024

Thisday Afrinvest Index up 21bps Thisday Afrinvest 40 index gained 21bps to close at 4570.87 index

THISDAY AFRINVEST 40 INDEX

ƉŽŝŶƚƐ ĚƌŝǀĞŶ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ DANGCEM (+8.3%), TRANSCORP (+9.5%), and OKOMU ;нϭ͘ϵйͿ͘ ƵŵƵůĂƟǀĞůLJ͕ ƚŚĞƐĞ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

stocks account for 11.9% of the index.

Ticker

Current Price

Previous Price Change

THISDAY AFRINVEST 40

4570.87

0.21%

Local Bourse Extends Gains͙ ASI up 2.0% 1

Yesterday, the NGX-ASI advanced 2.0% to close at 91,896.97 points, ďƵŽLJĞĚ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ E' D ;нϴ͘ϮйͿ͕ h D Ed (+8.9%), and TRANSCORP (+9.4%). As such, YTD return improved to

ƚŽ േϱϬ͘ϮƚŶ͘ ĐƟǀŝƚLJ ůĞǀĞů ǀĂƌŝĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ĨĞůů ďLJ ϭϮ͘Ϯй ƚŽ ϭ͘ϭďŶ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ŝŶĐƌĞĂƐĞĚ ďLJ ϭϳ͘ϴй ƚŽ േϭϵ͘ϮďŶ͘

WŽƐŝƟǀĞ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ŽƵƌ ĐŽǀĞƌĂŐĞ ƐĞĐƚŽƌƐ ǁĂƐ ƉŽƐŝƟǀĞ ĂƐ ĨŽƵƌ ŝŶĚŝĐĞƐ gained, while the other two lost. The Industrial Goods and Oil & Gas

2,000.00

Price Change Index to Date

ROE

ROA

P/E

93.6%

357.1%

14.1%

3.2%

6.9x

6.0%

6.0%

10.0%

3.1%

0.0%

11.8%

P/BV

Divindend Earnings Yield Yield

1.6x

3.5%

ot Applicable

2.0%

8.0%

2

MTN Nigeria Communications PLC

288.10

0.0%

8.5%

9.1%

9.1%

85.8%

8.6%

24.8x

3

Guaranty Trust Holding Co PLC

45.50

-2.2%

8.0%

12.3%

12.3%

38.3%

5.6%

3.2x

4

Zenith Bank PLC

44.30

-2.0%

7.3%

14.6%

14.6%

27.6%

3.0%

3.1x

0.7x

7.6%

32.0%

29.50

-0.3%

6.3%

27.4%

27.4%

20.5%

1.5%

3.9x

0.7x

5.4%

25.8%

5

ϮϮ͘ϵй ;WƌĞǀŝŽƵƐůLJ ϮϬ͘ϰйͿ͕ ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŐĂŝŶĞĚ േϭ͘ϬƚŶ

Airtel Africa PLC

Current Price Change Weighting YTD

Access Holdings PLC

19.6x

5.4%

4.0%

7.3%

31.6%

6

United Bank for Africa PLC

31.00

-4.6%

5.9%

20.9%

20.9%

39.5%

3.9%

2.1x

0.6x

4.5%

46.6%

7

Dangote Cement PLC

489.90

8.3%

5.9%

53.1%

53.1%

40.4%

15.3%

19.0x

6.3x

4.3%

5.3%

8

SEPLAT Energy PLC

2,310.00

0.0%

3.3%

0.0%

0.0%

1.5%

0.8%

56.6x

0.9x

2.9%

1.8%

9

Lafarge Africa PLC

46.00

0.0%

4.4%

46.0%

46.0%

11.6%

7.9%

15.4x

1.8x

4.3%

6.5%

0.7x

1.9%

42.7%

10

Ecobank Transnational Inc

26.30

-0.8%

3.0%

25.8%

25.8%

26.9%

1.2%

2.3x

11

Transnational Corp of Nigeria

19.20

9.5%

4.5%

121.7%

121.7%

11.9%

3.0%

53.0x

12

FBN Holdings Plc

26.95

-2.5%

5.4%

14.4%

189.8%

24.9%

2.3%

3.5x

13

Fidelity Bank PLC

13.00

-3.0%

2.2%

19.8%

19.8%

26.2%

2.1%

4.1x

1,196.00

0.0%

1.9%

8.7%

8.7%

0.0%

1.6%

-6.7%

-6.7%

31.5%

3.4%

6.4x

14

Nestle Nigeria PLC

15

Stanbic IBTC Holdings PLC

65.00

16

BUA Foods PLC

240.00

0.0%

1.9%

24.1%

24.1%

54.0%

18.0%

1.5%

3.8%

3.8%

47.0%

24.2%

34.2%

34.2%

2.2%

0.5%

0.3%

1.9%

0.7x

1.9%

28.9%

1.0x

3.8%

24.4%

-6.1%

3.2%

-2.8%

1.8x

5.4%

15.6%

34.6x

16.9x

1.9%

2.9%

13.5x

5.9x

1.7%

7.4%

327.0x

7.4x

2.0%

0.3% -16.8%

17

Okomu Oil Palm PLC

270.00

1.9%

ŝŶĚŝĐĞƐ ƌŽƐĞ ϳ͘ϴй ĂŶĚ Ϯ͘ϲй ƌĞƐƉĞĐƟǀĞůLJ͕ ĚƌŝǀĞŶ ďLJ ŐĂŝŶƐ ŝŶ

18

Dangote Sugar Refinery PLC

76.50

4.4%

1.5%

19

Nigerian Brew eries PLC

42.00

0.0%

1.1%

16.7%

16.7%

-39.6%

-9.3%

3.1x

2.5%

E' D ;нϴ͘ϮйͿ͕ h D Ed ;нϴ͘ϵйͿ͕ ĂŶĚ d ZE ;нϭϬ͘ϬйͿ͘

20

AXA Mansard Insurance PLC

6.30

-3.1%

1.1%

14.5%

14.5%

40.8%

11.2%

4.2x

1.5x

1.8%

23.6%

Following suit, the Consumer Goods and AFR-ICT indices inched high-

21

NASCON Allied Industries PLC

67.20

1.9%

1.1%

25.0%

25.0%

60.2%

19.8%

6.4x

6.5x

1.5%

15.5%

22

FCMB Group Plc

11.00

-3.5%

1.2%

48.6%

48.6%

18.0%

1.7%

3.8x

0.6x

2.3%

26.3%

Ğƌ ďLJ ϴϳďƉƐ ĂŶĚ ϰďƉƐ ƌĞƐƉĞĐƟǀĞůLJ͕ ĚƵĞ ƚŽ ďƵLJ ŝŶƚĞƌĞƐƚ ŝŶ

23

Flour Mills of Nigeria PLC

47.00

-0.8%

1.1%

42.2%

42.2%

6.0%

1.0%

16.5x

1.0x

4.8%

24

International Brew eries PLC

6.25

2.8%

1.0%

30.2%

30.2%

-37.7%

-9.3%

E'^h' Z ;нϰ͘ϯйͿ͕ W ;нϵ͘ϵйͿ͕ ĂŶĚ DdEE ;нϯďƉƐͿ͘ ŽŶǀĞƌƐĞůLJ͕

469.70

0.0%

0.9%

17.7%

17.7%

7.20

4.3%

1.2%

67.8%

67.8%

PZ Cussons Nigeria PLC

39.20

10.0%

0.9%

46.8%

46.8%

-106.3%

-14.9%

United Capital PLC

24.40

-2.0%

0.6%

6.1%

6.1%

22.9%

1.6%

Chapel Hill Denham Management

114.00

0.0%

0.6%

0.0%

0.0%

25

Geregu Pow er PLC

26

Sterling Financial Holdings Co

E/d, ;-ϭ͘ϵйͿ ƉƵůůĞĚ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ůŽǁĞƌ ďLJ

27 28

Ϯ͘ϭй ĂŶĚ ϭ͘ϴй ƌĞƐƉĞĐƟǀĞůLJ͘

29

sell pressure on AIICO (-ϱ͘ϴйͿ͕ KZE Z^d ;-ϲ͘ϲйͿ͕ h ;-4.6%), and

Outlook

1.5x

6.1% -28.2%

28.9x

1.7% 2.1%

18.8x 14.1x

-17.1%

2.4x

6.1%

ot Applicable

13.9%

7.1%

30

Transcorp Hotels Plc

100.00

0.0%

0.8%

42.5%

42.5%

6.9%

3.7%

224.4x

15.3x

0.1%

31

Presco PLC

259.00

0.0%

0.6%

34.2%

34.2%

45.9%

13.7%

12.6x

5.1x

3.5%

8.0%

32

Multiverse Mining and Explorat

17.00

0.0%

0.4%

-8.5%

-8.5%

42.2%

5.9%

186.3x

5.2x

0.3%

0.5%

0.4%

33

Guinness Nigeria PLC

71.50

0.0%

0.5%

8.3%

8.3%

-24.1%

-7.9%

34

BUA Cement Plc

135.00

9.0%

0.5%

39.2%

39.2%

25.0%

12.6%

45.3x

11.1x

2.1%

2.2%

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ǁŽƌƐĞŶĞĚ ƚŽ -

35

TotalEnergies Marketing Nigeri

346.50

0.0%

0.3%

-10.0%

-10.0%

28.3%

3.9%

8.2x

2.2x

5.7%

12.3%

0.19x from 0.29x in the prior session as 33 stocks advanced, 42 de-

36

Oando PLC

12.10

0.0%

0.2%

15.2%

15.2%

3.2%

4.0x

12.03

3.2%

0.4%

114.8%

114.8%

23.1%

1.3%

6.9x

2.5%

14.5% 10.9%

37

ĐůŝŶĞĚ͕ ǁŚŝůĞ ϰϴ ĐůŽƐĞĚ ŇĂƚ͘ tĞ ĂŶƟĐŝƉĂƚĞ ƚŚĞ ŵĂƌŬĞƚ ƚŽ ĐůŽƐĞ ƚŚĞ ĮŶĂů ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĨŽƌ ƚŚĞ ǁĞĞŬ ǁŝƚŚ Ă ŵŝůĚ ŐĂŝŶ͕ ĚƌŝǀĞŶ ďLJ ĞdžƚĞŶĚͲ

Wema Bank PLC

2.7x

-11.7%

25.1%

38

Julius Berger Nigeria PLC

57.25

0.0%

0.3%

33.1%

33.1%

14.5%

1.7%

9.2x

1.1x

4.4%

39

Unilever Nigeria PLC

18.50

-0.3%

0.2%

25.0%

25.0%

10.0%

5.0%

16.4x

1.6x

1.3%

40

Notore Chemical Industries Ltd

62.50

0.0%

0.0%

0.0%

0.0%

-140.7%

-24.8%

ĞĚ ƐƚƌĂƚĞŐŝĐ ƉŽƐŝƟŽŶŝŶŐ͘ 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 ic k er

ŽƌƉŽƌĂƚĞ ĐƟŽŶ

P ric e

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

J OH N H OLT

2.53

10.0%

T R A N SC OR P

156.6

9.5%

N EM

8.25

10.0%

UN IVIN SUR E

114.5

8.3%

Today, GlaxoSmithKline (GSK) Plc announced it has received the

ET ER N A

20.90

10.0%

VER IT A SKA P

69.4

8.7%

^ĞĐƵƌŝƟĞƐ ĂŶĚ džĐŚĂŶŐĞ ŽŵŵŝƐƐŝŽŶ͛Ɛ ;^ Ϳ ĂƉƉƌŽǀĂů ŽĨ ŝƚƐ ƐĐŚĞŵĞ

UN IT YB N K

3.30

10.0%

J A IZ B A N K

65.9

-5.4%

C ON OIL

112.20

10.0%

GT C O

63.4

-2.2%

PZ

39.20

10.0%

J A P A ULGOLD

52.5

-9.3%

M A YB A KER

7.51

10.0%

A C C ESSC OR P

42.8

-0.3%

9.9%

ST ER LIN GN G

40.5

4.3%

ĂƌƌĂŶŐĞŵĞŶƚ ;ĞĂƌůŝĞƌ ƐĂŶĐƟŽŶĞĚ ďLJ ƚŚĞ &ĞĚĞƌĂů ,ŝŐŚ ŽƵƌƚ ŽŶ ĞͲ cember 5, 2023). Accordingly, the company is set to apply to delist its shares from trading on the NGX, in line with its strategic intent to ĐĞĂƐĞ ĐŽŵŵĞƌĐŝĂůŝƐĂƟŽŶ ŽĨ ŝƚƐ ďƵƐŝŶĞƐƐ ŝŶ EŝŐĞƌŝĂ ƚŚƌŽƵŐŚ ůŽĐĂů ŽƉĞƌͲ

M C N IC H OLS

1.77

A B B EYB D S

2.99

9.9%

UN IT YB N K

37.6

10.0%

H ON YF LOUR

5.32

9.9%

Z EN IT H B A N K

36.3

-2.0%

ĂƟŶŐ ĐŽŵƉĂŶŝĞƐ͘ /Ŷ ŽƚŚĞƌ ĚĞǀĞůŽƉŵĞŶƚ͕ d ZE WůĐ ĂŶŶŽƵŶĐĞĚ ŝƚƐ

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

ĂƉƉŽŝŶƚŵĞŶƚ ĂƐ ŽŶĞ ŽĨ ƚŚĞ ŽĸĐŝĂů ĚŽŵĞƐƟĐ ĚŝƐƚƌŝďƵƚŽƌƐ ŽĨ ĂŶŐŽƚĞ P ric e

P ric e C hg %

T ic k er

Value

WĞƚƌŽůĞƵŵ ZĞĮŶĞƌLJ ƉƌŽĚƵĐƚƐ ŝŶ EŝŐĞƌŝĂ͘ dŚŝƐ ŵŝůĞƐƚŽŶĞ ŝƐ ĞdžƉĞĐƚĞĚ

IKEJ A H OT EL

8.11

-9.8%

T R A N SC OR P

2960.5

9.5%

ƚŽ ĞŶŚĂŶĐĞ ƚŚĞ ďƵƐŝŶĞƐƐ ŽƉĞƌĂƟŽŶƐ ŝŶ EŝŐĞƌŝĂ͘

R OYA LEX

0.83

-9.8%

GT C O

2884.1

-2.2%

M B EN EF IT

0.85

-9.6%

Z EN IT H B A N K

1626.1

-2.0%

LIN KA SSUR E

1.35

-9.4%

B UA C EM EN T

1510.6

9.0%

J A P A ULGOLD

2.43

-9.3%

A C C ESSC OR P

1275.1

-0.3%

N SLT EC H

0.72

-8.9%

UB A

1085.3

-4.6%

SOVR EN IN S

0.66

-8.3%

N A SC ON

875.2

1.9%

GUIN EA IN S

0.57

-8.1%

D A N GC EM

681.8

8.3%

UP D C R EIT

6.25

-7.4%

M TNN

479.7

0.0%

-6.7%

NA HCO

429.5

9.9%

T ic k er

C OR N ER ST

Afrinvest West Africa Limited

1.82

6.1% -71.9%

P ric e C hg %

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

32

FRIDAY, JANUARY 19, 2024

T H I S D AY

BUSINESS/MONEYGUIDE

Kebbi Flags-off Disbursement of N3bn Grant to 15,000 Beneficiaries Onuminya Innocent The Kebbi State Governor, Nasir Idris, has kicked-started disbursement of N3 billion livelihood support grant to 15,000 beneficiaries across the state.

Under the programme, each beneficiary would receive N200,000 totaling N3billion.

Speaking at the ceremony in Birnin Kebbi, the governor assured of the readiness of his administration to provide necessary support and priority to achieve high impact of the objective of the scheme.

He advised the beneficiaries to make judicious use of the money by investing in gainful ventures that would generate income and enable them become not only self-reliance but also employers of labour.

To ensure that the money was not diverted to different uses, the governor assured

that independent verification agents from the World Bank and staff of the Ministry of Budget would monitor the utilisation of the money.

The governor further warned officials entrusted with the disbursement that the state government would not condone diversion of the funds to other means other than its original purpose. He assured that he would continue to source for resources within and outside Nigeria to bring home for the benefit of people of the State He used the occasion to announce that the Minister of Agriculture would be in Kebbi on Thursday to launch the distribution of solar powered water pumps to farmers.

He said the government has already procured 10,000 units of the water pumps at the cost of N700,000 per unit.

He noted that his administration would explore all

avenues to subsidize cost of petrol to farmers using fuel powered water pumps aimed at consolidating the leading position of Kebbi State in rice production.

On his part, the Commissioner for Budget and Economic Planning who is also the Chairman, Kebbi Cares steering Committee, Dr. Abba Sani Kalgo said the programme was designed to cushion the economic and social effect on the people as a result of the Covid 19 pandemic.

The Speaker Kebbi State House of Assembly, Rt Hon. Usman Muhammad Ankwe, Chief Judge of the State, Justice Umar Abubakar, Grand Khadi , Sadiq Muktar, Secretary to the State Government, SSG, Alhaji Yakubu Bala Tafida, Head of Service, Alhaji Sufyanu Garba Bena, Commissioners and Special Advisers witnessed the ceremony.

From left: Program Executive, Tetracore Energy Group Limited, Oladayo Williams; Executive Chairman, Africa Prosperity Network, Gabby Asare Otchere-Darko; Director Trade in Services Investment IPR and Digital trade AfCFTA Secretariat, Emily Njeri Mburu-Ndoria and Senior Adviser to the secretaryGeneral, African Continental free trade Area Secretariat (AfCFTA), Peter Joysewornoo during a press conference on the forthcoming Africa Prosperity Dialogue 2024 to be held in Accra Ghana.

MARKET INDICATORS

DMCL Holds Extraordinary General Meeting Duport Midstream Company Limited (DMCL) yesterday held an Extraordinary General Meeting (EGM) in Lagos.

Opening the EGM, the Chairperson, Mrs Mobolaji Kuku, reminded the meeting of the importance of transparency and accountability in achieving the Shareholders vision to build a world-class and formidable business.

Critical Ordinary Resolutions passed at the Meeting included: Appointment of a new company secretary in the firm of ULCS – sub-

sidiary of Ukiri & Lijadu - following the resignation of Mrs Akudo Nweke in May 2023 Ratification of the appointment of a law firm to represent the Company in ongoing litigations, Constitution of a Special Committee to urgently engage with Creditors and Change of signature mandates for all Company bank accounts.

The members also reviewed the progress of the forensic audit approved in October 2022.

Members noted that these measures were necessary

in entrenching proper governance and accountability in the company going forward and safeguarding the interest of creditors and shareholders.

DMCL Shareholders had earlier amended the agenda of this EGM in order to ensure that it did not contravene existing court orders.

“All banks, contractors, the Corporate Affairs Commission, Stakeholders and the Public are urged to please take note, “the company said.

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

Vetiva Announces Three Additional Board of Directors

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

Kayode Tokede

--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

Vetiva Capital Management Limited, yesterday announced the appointment of Mr. Olayode Delano, as the new Non-Executive Director, Ms. Halima Kyari, Non–Executive Director, and Mrs. Oyelade Eigbe as the new Executive Director, Client Services.

Speaking on the appointments, the Chairman of the Board of Directors, Vetiva Capital Management Limited, Prof Fidelis Oditah KC, in a statement said, “I am delighted to announce the addition of Mr. Delano, SAN, Ms. Kyari, and Mrs. Eigbe to our Board.

“They bring a wealth of

experience, expertise and fresh perspectives that align seamlessly with our vision for the future.

“Their diverse backgrounds and proven track records will enhance our strategic decision-making process, and their commitment to excellence and to the values that define Vetiva make our new Directors invaluable additions to the company.

“As we navigate the dynamic landscape of the financial services sector, the collective knowledge and insights of our newly appointed Directors would be very useful in shaping the direction of our institution.”

Delano is a Partner at

Akindelano Legal Practitioners (ALP) with strategic oversight of the corporate and commercial transactions practice. He studied Law at University College, London, graduating in 1989 at the top of his class and has a Masters degree from the Imperial College, London in Business Administration with a specialization in Finance.

Delano was called to the Nigerian Bar in 1990 following which he proceeded to practice Commercial law with Strachan Partners and George Etomi and Partners before joining ALP as a Partner. He was conferred with the prestigious rank of Senior Advocate of Nigeria (SAN) in 2018.

Smile Communications Harps on Connected Devices Emma Okonji Smile Communications, one of the leading 4G LTE telecommunications company in Africa, has explained that innovative 4G LTE connectivity devices would change how people communicate and connect to the internet.

Speaking about some of its 4G LTE connectivity devices, its Chief Marketing Officer, Abdul Hafeez, said the Smile SMiFi portable hotspot, SmileRouters, and

the Smile 4G LTE free SIM cards, are all designed to enhance customers’ connectivity experience in relation to speed of device and internet connectivity.

According to Hafeez, the Smile SMiFi portable hotspot lets users connect up to 10 devices simultaneously to the internet.

With a battery life of up to eight hours, users can stay connected on the go without worrying about running out of power. The Smile SMiFi is also small

and lightweight, making it easy to carry in a pocket or handbag.

The Smile Wireless Router is designed to offer superior connectivity, high-quality voice calls, and SuperFast internet speeds. This router can handle all home and office internet needs, with dual-band Wi-Fi and support for up to 32 devices.

The SmileRouter also comes with Smile’s network security software, which helps protect devices from online threats, Hafeez said.

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 29TH SEPTEMBER , 2023

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

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

T H I S D AY ˾ DAY, JANUARY 19, 2024

33

MARKET NEWS

At over 91,000 Basis Points, NGX All Share Index Hits All-time High

Kayode Tokede

After crossing the 90,000 basis points this week, the Nigerian Exchange Limited (NGX) major index crossed another all-time high yesterday, reaching over 91,000 basis points as the stock market recorded its fourth consecutive gain.

The NGX All Share Index (ASI) rose by 1,833.72 basis points or 2.04 per cent to close at 91,896.97 basis points from

90,063.25 basis points, bringing the stock market Year-till-Date growth to 22.90per cent.

Consequently, the overall market capitalisation yesterday also appreciated by N1.01 trillion to close at N50.290 trillion from N49.284 trillion it closed the previous day.

Investors buying interest in Dangote Cement Plc, BUA Cement Plc, MTN Nigeria Communication Plc and Dangote Sugar Refinery Plc lifted the

P R I C E S MAIN BOARD

F O R DEALS

stock market.

As Dangote Cement appreciated by 8.27per cent to close at N489.90 per share, BUA Cement rose by 8.96per cent to close at N135 per share. MTN Nigeria and Dangote Sugar Refiner increased by 0.03per cent and 4.37per cent to close at N288.10 and N76.50 per share, respectively.

Analysing by sectors, the NGX Industrial Goods Index gained 7.8per cent, NGX Oil

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

QUANTITY TRADED

& Gas Index added 2.7per cent, and NGX Consumer Goods Index appreciated by 0.9per cent, while the NGX Insurance Index dropped by 2.1per cent and NGX Banking Index dipped by 1.9 per cent.

The stock market breadth closed negative as 34 stocks gained relative to 42 losers.

The likes of Conoil Plc, Eterna Plc, JohnHolt Plc, NEM Insurance Plc, and

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S O F

Unity Bank Plc appreciated by 10 per cent each to close at N112.20, N20.90, N2.53, N8.25 and N3.30, respectively.

Also, PZ Cussons Nigeria Plc and May & Bakers gained 9.96 per cent to close at N39.20 and N7.51 per share, respectively.

Among the top gainers was Mcnichols that gained 9.94 per cent to close at N1.77per share as Abbey Mortgage Bank Plc grew by 9.93 per cent to close at N2.99 per share.

J A N UA RY DEALS

On the losers chat was Ikeja Hotel Plc that depreciated by 9.79 per cent to N8.11per share, Royal Exchange that dipped by 9.78 per cent to N0.83 per share and Mutual Benefit that dropped by 9.57 per cent to close at N0.85 per share.

Linkage Assurance Plc dropped by 9.40 per cent to close at N1.35 per share as Japaulgold declined by 9.33 per cent to close yesterday at N2.43 per share.

/ 1 8 / 2 4 MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

34

T H I S D AY • FRIDAY, JANUARY 19, 2024

NEWS

NATIONAL ANIMAL HEALTH FORUM...

L-R: National Secretary, Miyetti Allah, Bello Aliyu; Senior Manager, Sahel Consulting, Nigeria, Fisayo Kayode; Chief Veterinary Officer of Nigeria, Columba Teru Vakuru; Representative of the Minister of Agriculture and Food Security, Taminu Ibrahim and Director, Animal Husbandry, Federal Ministry of Agriculture and Food Security, Winnie Solarin, during the National Animal Health Forum in Abuja ... yesterday ENOCK REUBEN

Miners Association Calls for Justice in Wake of Ibadan Explosion Death toll rises to five, two more bodies recovered Senators commiserate with Oyo govt, residents, say incident devastating Sunday Aborisade, Folalumi Alaran in Abuja and Kemi Olaitan in Ibadan Miners Association of Nigeria (MAN) has called for justice following the “devastating explosion” that rocked Ibadan, the Oyo State capital, on Tuesday, leaving five people dead and more than 70 injured.

Casualties in the deadly explosion, which occurred at Dejo Oyelese Street, Adeyi

Avenue, Old Bodija, rose to five yesterday, from the initial three, as two more bodies were recovered from the debris.

Some senators, including Chairman, Senate Committee on Finance, Senator Sani Musa; Chairman, Committee on Privatisation, Senator Orji Kalu; and his counterpart from Abia Central Senatorial District, Senator Austin Akobundu, commiserated with the government and people of

Supreme Council for Shari'a Hails Tinubu's Economic Policies, Urges Confrontation of Insecurity Deji Elumoye in Abuja The Supreme Council for Sharia in Nigeria (SCSN) rose from a closed-door meeting on Thursday with President Bola Tinubu at the State House, Abuja, with a commendation for his administration’s economic policies.

It also advocated for the deployment of required resources to combat incessant threat to national security.

Answering reporters’ questions after meeting with the President, Vice President of the Council, Dr. Bashir Umar, said the group paid a courtesy call on the President to show solidarity and commend him on the decisions he has taken so far on behalf of the country.

He said: “We are here today on a courtesy call to the President and to show our solidarity and commendation for the hard decisions he is taking for the country".

According to him, the Islamic Council advised the President to expedite action to cushion the effect of the hard economic decisions while also requesting that he tackles insecurity headlong so as to achieve food security.

“And also to request that he expedite action to cushion the effect of the hard economic decisions that were taken and also to request that he brings out everything that is in the arsenal

to face the problem of Insecurity and to also achieve food security".

Umar further disclosed that the Council for Sharia also submitted the communiqué of its just concluded conference, with post-mortem on the 2023 general elections, to the President.

He added that the Council reviewed the nation’s last general elections so as to create a consensus and proffer the way forward to perceived contending issues in the last elections.

His words: “We also submitted to him the communique of our just concluded conference which brought about Islamic scholars and academics, intellectuals and civil society organizations to make a post mortem of 2023 elections in order to create a consensus and the way forward.”

Umar stressed that the President while responding to their requests gave assurances and encouraging remarks that calls for more prayers for the peace and security as well as the development of the country.

According to him: “We got very good assurances from the President and very encouraging remarks that calls for us to continue to pray intensely for the success of the administration and for peace and security and development of the country which we have been doing and we are intensifying our prayers for the leadership of the country.

Oyo State, yesterday, over the Tuesday explosion in Ibadan.

National President of MAN, Dele Ayanleke, in a statement, said, “We pledge our support to all initiatives aimed at unravelling the perpetrators of this crime, with the view to bringing them to book in order to serve as deterrent to other criminal elements or who paint operators in the solid minerals sector in bad light.

“While we pray for the repose of the souls of the departed in eternal bliss, it is also our prayers that God will uphold their dependents, heal the injured, and restore all material losses.”

The statement added, “Miners Association of Nigeria, hereby, expresses our deep appreciation to His Excellency, Engr. Oluseyi Abiodun Makinde, the governor of Oyo State, for his prompt response to this emergency by facilitating immediate succour to the victims.

“By this publication, we further affirm our commitments to the continued collaboration with all tiers of government, their agencies and all stakeholders to end all forms of illegality in the

solid minerals value-chain, in order to bequeath to the present and future generations of our nation, a sector that can provide the much-desired pivot for the diversification and broadening of our national economy.

“We also call on all our members, across our various chapters, to be wary of those they partner with.”

Head of Emergency Operations Centre for the evacuation and rescue of victims in the blast, Professor Temitope Alonge, who disclosed the new casualties, maintained that his team would continue its search for survivors until all victims were accounted for.

Alonge told journalists at the scene of the incident, “The storm is yet to settle, but it’s time to pick up what is left of the disaster site of Tuesday’s deadly explosion in Bodija in the ancient city of Ibadan, which has left five victims dead and about 77 sustaining varying degrees of injuries.

“Earth moving equipment had been deployed to the scene to clear the debris and, perhaps, rescue more victims.

The operations emergency team are also on ground to ensure

the smooth flow of evacuation.

“Residents, who are fortunate to pick what is left of their property, have headed for safer locations, as the state government had ordered an evacuation due to safety concerns."

Meanwhile, the senators described the incident as sad and devastating.

Musa underscored the need for security agencies to invest heavily in intelligence gathering, noting that the incident could have been avoided if residents had offered useful information to the security agencies beforehand.

He said it was high time government at the national and sub-national levels came up with legislation that would impose heavier sanctions against possession of explosives and illegal mining.

Musa stated, "This is one incident too many. The government at all levels, security agencies, and the people have roles to play to avert future occurrence. We need to be proactive in dealing with the situation.

"The people should be more vigilant and show keen

interest in whatever that is going on around them, while security agencies should encourage residents to speak up whenever they discover strange movements within their communities.

"Government should also come up with legislation that would discourage anyone from either possessing explosives or even engaging in illegal mining."

Kalu, in a statement in Abuja, expressed sadness over the painful incident, which was attributed to the activities of illegal miners, and urged the government to commence a full scale investigation into the development in a bid to forestall future occurrence.

He stated, "It is depressing, considering the lives that were lost and injured victims.

Government must bring to book the perpetrators of the ugly incident in order to prevent future occurrence."

Akobundu said he was shocked by the news of the blast and said such tragic incident was shattering, especially at this critical time, when families were struggling to survive the harsh economic situation in the country.

Plateau IDPs in Harrowing State, Camp Director Laments Says some people died from severe cold Seriki Adinoyi in Jos The Camp Director of the Internally Displaced Persons (IDPs) camp in Mangu, Plateau State, Mr. Marcus Gumwesh, has lamented the harrowing condition in the camps across the state.

He said the condition was so bad that some mothers had to give birth on bare floors, lacking proper clothing and adequate nutrition, adding that, “Some of them catch a cold and die.”

He, therefore, noted that the camp was in dire need of food, baby clothing, and sanitary pads for women, and called

on spirited Nigerians to come to their aid.

Gumwesh disclosed this when the University of Jos Consultancy Limited took delivery of relief materials to victims of recent attacks in the state, who were displaced and were currently in the camp.

Shedding light on the multifaceted challenges faced by the camp, Gumwesh said, the problems ranged from providing adequate food, education, and medical care to the victims, pleading that no matter how little the assistance might be, it would go a long way in putting a smile on the face of

the victims.

He said the Mangu camp was just one part of a larger crisis, with four other camps and eleven distribution centers working tirelessly to offer assistance to the affected persons.

“Seeing that families fled their homes with minimal resources, the camp is grappling with financial constraints for essentials like clothing, education, and medical bills. We have serious challenges with feeding,” he explained.

General Manager of the University of Jos Consultancy, Hauwa Lami Temine, said it was part of its corporate social

responsibility and community services to care for the victims of the crisis, especially the children.

She said as an integral part of the University of Jos, the company aimed to extend relief and solidarity not only to the affected individuals in Mangu but also to those in Pankshin, Bokkos, and other communities devastated by the senseless attacks.

Temine expressed serious concerns for the well-being of children during crises, saying, “We came to show our love to you, especially the children; to tell them that our prayers have been with them.”

35

T H I S D AY • FRIDAY, JANUARY 19, 2024

NEWS

BUSINESS MEETING...

L-R: Head, Mobility Business Enterprise Business Group, Globacom, Mr. Eric Uwaoma; Governor AbdulRahman AbdulRazaq of Kwara State; South-west Business Coordinator, Mr. Akeem Yusuf, and Zonal Head, Enterprise Business Group, Mr. Adeniyi Odejobi , during a business meeting of the Globacom Team with the governor in Ilorin…recently

Insecurity: Supreme Council for Shari’ah Pushes for Constitutional Review, Multi-level Police Urges Tinubu to be fair, just, equitable Deji Elumoye and Onyebuchi Ezigbo in Abuja The Supreme Council for Shari’ah in Nigeria (SCSN), has asked the federal government to review the Nigerian constitution as part of measures to addressing the challenges facing governance in the country.

Against the backdrop of the lingering insecurity in the country, SCSN said the review should make provisions that would enable governors to perform more effectively, their statutory roles as chief security officers of their states.

The council further expressed support for the anti-corruption drive of the government and all its policies that were aimed at improving the welfare of the citizens.

It expressed support for the anti-corruption drive of the government and all its policies that were aimed at improving the welfare of the citizens.

The Shari'ah Council particularly, urged President Bola Tinubu to ensure equity, justice and fairness in appointments and governance.

President of the Council, Sheikh AbdurRasheed Hadiyatullah and the Secretary General, Malam Nafi’u Baba Ahmed, urged the federal government to work

harder to end the insecurity in the country.

"We urge the federal government to do all it takes within the ambit of the law to bring an end to the prevailing insecurity situation, through improved and effective intelligence gathering, deployment of strong offensive against all flash points of security threats, the promotion of community-oriented policing and fostering genuine trust between security forces and local communities.

"Additionally, a constitutional review is recommended to enable governors to perform more effectively their statutory roles as chief security officers of their states," he said in a communique jointly signed.

In addition, the Council urged the federal government to launch a full-scale investigation and prosecution of those arrested on all cases leading to the killings around the country, "especially those arrested for killing of General Alkali in Plateau State, the attack on worshippers in the Church in Jos, the killing of 11 Fulani herders arrested by the military in southern Kaduna and all others in different parts of the Country."

SCSN said government should expedite action in implementing programmes that would empower

communities economically and socially, addressing the underlying factors that contribute to insecurity.

It called for the expansion and improvement of social safety nets, policies that stimulate and prioritise job creation, private sector growth and small business development.

Regarding concerns generated by the Muslim-Muslim presidential ticket that yielded the Tinubu/Shettima Presidency, SCSN urged the administration to ensure that the people experience

good governance, justice and equity.

The Vice-President of the Council, Dr Bashir Umar, who also spoke after a closed-door meeting with President Tinubu at the State House, Abuja, commended the administration’s economic policies.

Fielding questions from reporters, he said the group paid a courtesy call on the president to show solidarity and commended him on the decisions he has taken so far on behalf of the country.

“We are here today on courtesy

call to the President and to show our solidarity and commendation for the hard decisions he is taking for the country," he said.

According to him, the Islamic Council advised the President to expedite action to cushion the effect of the hard economic decisions while also requesting that he tackles insecurity headlong so as to achieve food security.

Umar further disclosed that the Council for Sharia also submitted the communiqué of its just concluded conference,

which postmortem the 2023 general election to the President.

He added that the Council reviewed the nation’s last general election to create a consensus and proffer the way forward to perceived contending issues in the last elections.

His stressed that the president while responding to their requests gave assurances and encouraging remarks that called for more prayers for the peace and security as well as the development of the country.

2023 Census: Court Decides Whether to Order NPC Account for N200bn April 16 Alex Enumah in Abuja

Justice Inyang Ekwo of a Federal High Court, Abuja, will on April 16, decide if to compel the National Population Commission (NPC) or not to give account on how it spent N200 billion out of the funds allocated to it for the conduct of the suspended 2023 National Census.

The court fixed date for judgment after the adoption of final written address A lawyer, Victor Opatola, had accused the NPC of refusing to

provide detailed information on how it spent the sum of N200 on preparations for the postponed 2023 Population and Housing Census.

When the matter was called yesterday before Justice Inyang Ekwo, the judge called on counsel to identify and adopt all the processes they filed in the matter.

Opatola, who represented himself as plaintiff, told the court that all processes had been filed and exchanged with the defendant.

"The plaintiff filed an originating summons along with a 12 paragraph affidavit and I also

filed a reply on points of law and I seek to adopt them," he said.

The counsel to the NPC, Mr C.D Chimezie also identified and adopted all his processes.

At the end of their adoption, the judge stated that judgment in the suit would be delivered on April 16, this year.

The NPC Executive Chairman, Nasir Kwarra, in May 2023, had disclosed that the commission spent N200 billion for preparation, out of the expected N800 billion needed to conduct the census.

But, Opatola told the court

that he had filed a Freedom of Information (FOI) application to the commission, on March 2023, requesting information on the budget submitted by the commission for the 2023 Census as well as the amount so far received by the commission towards the conduct of the 2023 census.

The plaintiff, who claimed that the said application addressed to the NPC was duly acknowledged and served on the commission through its chairman, lamented that the NPC declined to do the needful in line with relevant laws.

PANDEF Rejects N’Delta Ministry‘s 2024 Budgetary Allocation to Edo Says ministry citing most projects in non-oil producing communities Adibe Emenyonu in Benin City The Edo State chapter of the Pan Niger Delta Forum (PANDEF), has rejected the 2024 budgetary allocation by the Ministry of Niger Delta for the execution of projects in the state.

The chapter also claimed that all the projects meant for the

state were all located in non-oil producing areas of the state and called on the Minister in charge of the ministry, Abubakar Momoh to reverse the situation.

A statement by the forum in Benin City yesterday after the meeting of its steering committee signed by Prof. Alfred Ehigiegba, Dr. Mike Asemota and Mr.

Isaac Omokaro for the group, called on the minister and the federal government to engage in meaningful consultations with oil producing communities in Edo State to understand their needs, challenges and aspirations.

The forum also emphasised that the minister's decision to allocate funds for projects to non-oil

communities disregards the spirit and principles behind the setting up of the Niger Delta Ministry.

It said that among other goals is to alleviate the suffering and bring succour to the oil-producing communities, which are directly impacted by the oil production activities.

“We call upon the minister

to provide a transparent and accountable explanation for his actions, justifying why he has chosen to prioritise non-oil communities over the oil-producing communities in Edo State.

“We urge the federal government to ensure fairness and equity in the distribution of resources, particularly in the allocation of

funds for projects in Edo state.

The needs and priorities of the oil-producing communities should be given due consideration,” the group said.

It therefore appealed to the minister and his ministry to correct the obvious anomalies in the distribution of projects in Edo state.

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FRIDAY JANUARY 19, 2024 ˾ T H I S D AY

NEWSXTRA

RECOGNITION AWARD…

L-R: Acting Head of Department, Architecture, Redeemer’s College of Technology and Management (RECTEM), Mr. Michael Fashakin; acting Deputy Rector, Academic, Mrs. Yetunde Alonge; Rector,RECTEM,Dr. Stella Mofunaya; Director of Entrepreneurship, Dr.Sunday Onjewu; National Vice President,Special Duties,National Youth and Students Enterprise Group (NASEG), Oladimeji Ajibola; and a guest, Mr. Felix Oyewole, at the presentation of recognition award by NASEG to RECTEM in Ogun State...recently

Police Rescue Abuja Kidnap Victim, Arrest Suspect in Kaduna John Shiklam inKaduna

The police in Kaduna State have rescued an Abuja kidnap victim, recovered his vehicle, and arrested one of the kidnappers.

In a statement issued yesterday by the state Police Command spokesperson, Mr. Mansur Hassan, he said the kidnapping incident took place in Abuja, adding that the criminals, who were taking their victim to Kano State, were

intercepted in Kaduna through distress calls to the Kawo Divisional Police Station in Kaduna.

Hassan said the police received information that the kidnappers and their victim were driving in a Toyota Hilux van belonging to the victim.

He said: “On January 18, 2024, operatives attached to Kawo Divisional Headquarters, Kaduna, received a distress call of a kidnapping incident in Abuja

indicating that the culprits and their victim were transiting through Kaduna.”

Hassan said that at about

10 minutes after midnight, police operatives blocked a grey Toyota Hilux van, with registration number: Abuja RBC

90 BC, conveying five passengers including the driver, suspected to be the kidnappers and their victim.

According to the statement, “on

sensing danger and in an effort to escape, one of the kidnappers fired at the policemen and they responded accordingly.

Two Killed, 70 Houses Set Ablaze in Kogi Communal Clash some villagers in Ochi-Ibadan allegedly killed a Man from Oturpo-Ojile who was returning from Lagos to his own village, Oturpo-Ojile.

Sources hinted that aggrieved youths from Oturpo-Ojile in a reprisal attack went straight to Ochi-Ibadan and allegedly burnt down over 70 houses.

The member representing

Ankpa I State Constituency, Hon. Akus Lawal, confirmed the incident on the floor of the Kogi State House of Assembly during plenary yesterday.

He said “The sad incident occurred on January 14, 2024.

The communal clash between two communities is very worrisome and should not repeat itself again.

“We were informed of the death of a man from OturpoOjile while returning from a journey led to a reprisal attack by his people in OchiIbadan village whom they accused of having caused the death of their son. Over 70 houses and many properties in Ochi-Ibadan were burnt down.

FG to Restructure NYSC to Enhance Youth Productivity

At least two persons have been confirmed dead and over 70 houses set ablaze in a communal clash between two communities in Kogi State.

The affected communities were Oturpo-Ojile and Ochi-Ibadan in Ankpa Local Government Area of Kogi State.

THISDAY gathered that the trouble started when

Oghenevwede Ohwovoriole in Abuja

Maida Harps on Big Data, Promises Collaboration to Consolidate 100 Days in Office

The Minister of Youths and Social Development, Dr. Jamila Ibrahim, has disclosed that the federal government would restructure the National Youth Service Corps (NYSC) in order to transform it into a key driver of youth empowerment and economic development.

The minister disclosed this yesterday in Abuja at the opening ceremony of the 2024 Batch ‘A’ Pre- Mobilisation workshop organised by the NYSC for critical stakeholders in the corps

mobilisation process, with the theme: ‘Unlocking Innovative Solutions to the Challenges of the Mobilisation Process’.

Ibrahim said the NYSC needed to be restructured to meet Nigeria’s current economic needs from the youths to develop the economy.

He said: “It is noteworthy that the NYSC scheme ranks among the most endearing platforms that have historically played a significant role in promoting national unity.

However, Nigeria’s evolving economic and social landscape now calls for major restructuring to ensure the NYSC effectively meet current and future challenges.

IPC’s CSPJ Frowns on Police Invasion of ABN TV OlusegunSamuelinYenagoa

The International Press Center (IPC) Centre for Safety and Protection of Journalists (I-CSPJ) has expressed dismay over the reported invasion of ABN TV by a police team to arrest a guest during a live programme in Umuahia, Abia State, on Tuesday, January 16, 2024.

A press statement signed by the Press Freedom Officer, I-CSPJ, Mr. Melody Akinjiyan, said that information reaching the I-CSPJ from its field monitor revealed that “at about 2.40p.m. on Tuesday, January 16, 2023,

policemen invaded the station during a live programme, Youth Rendezvous, to arrest a guest, Mr. Udensi Donald during the programme.”

Akinjiyan said that the police claimed that a senior brother of the guest had written a petition against him over a family matter.

The statement added that the Station’s Director, Ifeanyi Okali stated that despite repeated plead by the staff to the officers to allow the programme come to an end before the guest could be arrested, the police still whisked him away while the live programme was on.

AbiodunEromosele,EmmaOkonji andSundayOkobi

The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has stressed the need for telecommunications operators to leverage on big data analytics in making well informed decisions

Michael Olugbode in Abuja

The Chairman/Chief Executive Officer of the Nigerians in Diaspora Commission (NIDCOM), Hon. Abike Dabiri-Erewa, has congratulated Councilor Abigail Marshall Katung, a British-Nigerian, who is the newly

The Managing Director/ Chief Executive Officer of Port Harcourt Electricity Distribution (PHED), Dr. Benson Uwheru, has assured customers that 2024 would be a year of positive impact on customer’s experience.

Uwheru gave the assurance during a strategic session with business leaders across the PHED area of coverage.

He stated that after reflecting on the past year, the company

to leverage on big data, industry collaboration, compliance and digital innovation to reposition the telecoms sector and move it to a greater height.

Collaboration will be one of the drivers of NCC in 2004. Collaborating with industry stakeholders to further drive the telecoms sector, will be key to NCC and another key driver will be big data.”

appointed Lord Mayor of Leeds, for a term of 2024-2025.

The NIDCOM boss also congratulated Tope Awotona, a Nigerian-born entrepreneur, who has officially been declared the richest Nigerian immigrant in the United States.

In a congratulatory message

through the Director of Media and Public Relations, Abdur-Rahman Balogun, Dabiri-Erewa described the appointment and attainment of the duo as very well deserved.

Dabiri-Erewa said she was not surprised about the appointment of Councilor Katung going by her past

achievements and records which have had positive impact on humanity.

She prayed for a successful and impactful tenure for her, and urged Nigerians in Leeds to continue to rally round and give her necessary support geared towards national development.

Army Uncovers Illegal 14 Crude Oil Reservoirs in Rivers Blessing Ibunge in Port Harcourt The 6 Division of the Nigerian Army has uncovered a bunkering site with 14 reservoirs used to stock over three million litres of crude oil meant for illegal refining activities in Odagwa community,

Etche Local Government Area of Rivers State.

This was discovered yesterday when the General Officer Commanding (GOC), 6 Division, Nigerian Army/ Land Component Commander, Joint Task Force, South South, Operation DELTA SAFE, Major-

General Jamal Abdussalam, led an operation to the site.

Speaking with journalists during the operation, the GOC said the operators of the illegal reservoirs had about 49 crude oil boilers where they refined crude and moved it out through various channels.

Abdussalam noted that even with helicopter or drones, it would be difficult to discover the level of illegality existing in that forest. He disclosed that the discovery was made possible based on discreet intelligence, which led to locating over 14 reservoirs containing over 200,000 litres of crude oil each.

Fulani Launches Nomad Vigilance Outfits to Tackle Kidnapping in Nasarawa

Port Harcourt Disco Assures A Fulani socio-cultural Miyetti Allah Customers of Impactful 2024 association, Kautal Hore has declared is positioned to leave a positive impact in every sphere of customer experience owing to the renewed commitment by management.

Uwheru explained that the acronyms in the phrase ‘positive” as Purposeful living, Optimistic, Self-Confidence, Initiative, Trust, Invigorating, Victory and Excellence.

He enjoined all staff to be purposeful and optimistic while displaying a high-level self-confidence.

parley to unveil his vision and strategies after his first 100 days in office, explained how he spent his first 100 days in office reflecting and engaging meaningfully with industry stakeholders in the telecoms industry, with the intent to understand the industry better.

According to him, “Having spent 100 days in office, I have decided

NIDCOM Boss Congratulates Two Nigerian Diasporans for Achievements in UK, US

Igbawase Ukumba in Lafia

Blessing Ibunge in Port Harcourt

that will drive transparency and efficiency in the telecoms sector.

Maida said NCC would leverage on big data, collaboration, compliance and digital innovation as the next drivers that would guide the commission to achieve its goals in 2024.

The NCC boss, who said this yesterday in Lagos at a media

war on kidnappers and other criminalities in Nasarawa state.

National President of the Association, Abdullahi Bello Bodejo stated this in

Lafia while launching a new security outfit Nomad Vigilance Nigeria(NVG) numbering over 1,144 of its youths carefully selected for the first phase out of over 4,000 nomad vigilante personnel recruited.

He said that the primary objective of the NVN is to help secure the livelihoods

of farmers and herders, aid in information gathering and intelligence to the Nigerian security agencies of criminals and criminalities within the local communities as well as encourage peace in rural communities.

He said: “We wish to assure all concerned that the Nomad

vigilante group volunteers were carefully selected, screened, profiled and will operate within the arm bit of the law.

It is not created to replace or undermine the efforts of our existing security agencies but rather to purely compliment their work for the greater good of our country.

South-south Govs Set to Reposition BRACED Commission for Devt

Blessing Ibunge in PortHarcourt

Governors from the six states of the South-south region have expressed their commitment to reposition Bayelsa, Rivers, AkwaIbom, Cross River, Edo and Delta

(BRACED) Commission for the socio-economic development of the zone.

THISDAY recalled that the BRACED Commission was initiated by governors from the South-south zone to serve as

the brain-box for the collective development of the six states in the zone.

Meanwhile, the governors, including Siminalayi Fubara (Rivers), Umo Eno (Akwa-Ibom), Douye Diri (Bayelsa), and Monday

Onyeme (Deputy Governor, Delta) pledged the commitment for the development of the zone during their regional meeting yesterday, which was hosted by Governor Godwin Obaseki in the Government House in Benin-city.

FRIDAY JANUARY 19, 2024 ˾ T H I S D AY

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Traditional Chief, Three Others WORLD OF ISLAM Kidnaped in Kwara Community State of Israel: Ultimate Display of Antisemitism

NEWSXTRA

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Hammed Shittu in Ilorin

A traditional chief, Simon Ibiwoye, and three other persons have been reportedly abducted by suspected armed kidnappers in Ile-Ire district of Ifelodun Local Government Area of Kwara State.

THISDAY investigation revealed that the victims were abducted overnight last Tuesday in Afin community of the district.

The attack on the community, it was gathered, occurred barely hours after a similar invasion on Oke-Ode community in the same local government area last Tuesday in which one suspected armed robber was killed.

The state Police Public Relations Officer (PPRO), DSP Ejire Adetoun Adeyemi, who confirmed the incident to journalists yesterday identified the abducted high chief as oSimon Ibiwoye, the Olukotun of Afin community, along with three teenagers.

She said the Kabiyesi of the community reached out to inform the police about the development.

According to the PPRO, “The abducted victims were taken to an unknown location, but on the receipt of the information, a team of the military, police and local hunters swung into action and stormed the bush where they were able to get three alleged

informants linked to the suspected kidnappers now on the run.

“A cell phone was recovered on which the pictures of the suspected armed kidnappers were seen for easy identification.

“The alleged informants have been handed over to the anti-kidnapping unit of the state police command in Ilorin for continuation of investigation.”

Adetoun, further stated that the search for the victims was ongoing at the time of filling this report.

Kogi Assembly Passes Five CHANGE OF NAME CHANGE OF NAME I, formerly known and addressed as Bills into Law I formerly known and addressed PRINCESS ADENIKE OYEKAN, Ibrahim Oyewale in Lokoja as OSUALA OKEY, now wish to be known and address as OSUALA OKEY CHUKWUEMEKA. All former documents remain valid. The general public please take note.

I formerly known and addressed as MISS OKWISE DORIS ISIOMA, now wish to be known and addressed as MRS ASUAI DORIS ISIOMA. All former documents remain valid. The general public should please take note.

I formerly known and addressed as MISS OLATUNJI IYABODE COMFORT, now wish to be known and address as MRS. ALADE IYABODE COMFORT. All former documents remain valid. The general public please take note.

I formerly known and addressed as EGBOSIMBA CHINONYE ANN, now wish to be known and address as IBEH CHINONYE ANN. All former documents remain valid. The general public please take note.

I formally known and addressed as MISS OLAOTAN KARIMAT SMITH now wish to be known and addressed as MRS. OLAOTAN KARIMAT MOBEE. All formal documents remain valid, the general public should please take note.

I formally known and addressed as MISS MUONEKE CALISTA UCHECHUKWU now wish to be known and addressed as MRS CALISTA MATTEW KARIMO. All formal documents remain valid, the general public should please take note.

I formerly known and addressed as NRIJI CHINYERE LOVETH, now wish to be known and addressed as UDEH-NRIJI CHINYERE LOVETH. All former documents remain valid.

The general public should please take note.

I formerly known and addressed as UDEH-NRIJI OLISAEMEKA, now wish to be known and addressed as UDEH-NRIJI OLISAEMEKA NAVICK. All former documents remain valid. The general public should please take note.

now wish to be known, called and addressed as PRINCESS ADENIKE OYEKAN-OLAYIWOLA. All former documents remain valid. Nigerian immigration service and general public should please take note.

I formerly known and addressed as ESTHER OLUWAKOREDE EDIDI, now wish to be known and addressed as ESTHER OLUWAKOREDE UDEBHULU. All former documents remain valid.

The general public should please take note.

I formerly known and addressed as AZUBUGWU HAPPINESS CHISOM. FORMALLY MRS, now wish to be known and addressed as EZENWAEGBU HAPPINESS CHISOM. NOW MISS. All former documents remain valid.The general public should please take note.

I,formerly known and addressed as MISS IBIGOTE DESTINY FYNN, now wish to be known and addressed as MRS IBIGOTE DESTINY SOMIARI. All former documents remain valid. The general public should please take note I,formerly known and addressed as EBO TOLULOPE REBECCA, now wish to be known and addressed as LAWAL TOLULOPE REBECCA. All former documents remain valid. The general public should please take note

I formerly known and addressed as DOOYUM SEPHINE MCHIAGATSAVSAR, now wish to be known and addressed as Ms. DOOYUM SEPHINE SHANGO-PRAISE. All former documents remain valid.

The general public should please take note.

I formerly known and addressed as MISSOLUMBACHRISTABEL ADAKU, now wish to be known and addressed as MRS ADIZUO CHRISTABEL ADAKU. All former documents remain valid.

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I formerly known and addressed as MISS NWACHUKWU MARYJANE CHIZOBA, now wish to be known and addressed as MRS CHINYEKA MARYJANE CHIZOBA. All former documents remain valid.

The general public should please take note.

FAMILY CHANGE OF NAME I, MR. MOSES OVIEMO OVIEMO wishes to state that I, my wife, and sons were formerly known as UNUAVBOROH. That we now wish to be known,called, and addressed as: MR. MOSES OVIEMO OVIEMO MRS. LORNA ZUWAIRA OVIEMO MASTER SEAN TIMOTHY OGHENERUME OVIEMO MASTER MIKEL MUDIAGHAN OVIEMO All former documents remain valid. General public, please take note.

Kogi State House of Assembly has passed a total of five bills into law, which is now waiting for the assent of the state Governor Yahaya Bello.

The bills where passed into law by members of the state House of Assembly yesterday in Lokoja when it was considered clause by clause.

The bill passed into law by the lawmakers are a bill for a law to provide for retirement of judiciary staff in Kogi State and other matters connected therewith, 2024; bill for a law to repeal and re-enact the customary court of appeal (Establishment) law, 2008 and other matters connected therewith; and a bill for a law to establish the Kogi State meat hygiene and inspection, and other matters connected 2024.

Other bills passed by the Assembly are a bill for a law for the establishment of the Kogi State Social Investment Programme, agency and other matters connected therewith; and a bill for a law for the establishment of Kogi State Secondary Board and other matters connected therewith 2024.

Chief Onyenweama Passes On The family of Chief Enoch Nwakwuribe Onyenweama (Akuoma Isingwu) of Umuda Okpuala community in Umuahia North Local Government Area (LGA) of Abia State has announced the passing to glory of their father, Chief Enoch Nwakwuribe Onyenweama, at the age of 94 years.

He is survived by his wife, Mrs Regina Obiageli Onyenweama (nee Ojukwu) and four children, among whom are Sir Collins Chukwudi Onyenweama; Group Managing Director and CEO of Techno Oil Limited, Mrs Nkechi Obi; Mrs Victoria Nkechi Nnaji; and Engineer Tony Obinna Onyenweama, in addition to four half siblings, many grand and great grandchildren, and in-laws.

According to the burial arrangement as announced by his son, Sir Collins Onyenweama, there will be a Service of Songs at Harbour Point, Victoria Island, Lagos at 4pm on Friday, January 26, 2024 and a Christian Wake at Umuda Okpuala Isingwu, Umuahia, Abia State at 4p.m on Friday, February 9, 2024.

The funeral service will be held at Wesley Methodist Church, Umuda Okpuala Isingwu, Umuahia at 10a.m on Saturday, February 10, 2024, while interment and reception follow immediately at 1p.m and 1.30p.m, respectively, at the family compound.

By: Spahic Omer/IslamiCity/Iviews

A

s the final messenger of God to mankind and the Seal of all prophets, Prophet Muhammad (pbuh) was the savior of the world. By reviving, confirming, and complementing the divine messages of the earlier prophets, he was the prophet for the Jews (the Israelites or the Children of Israel) as well.

Hence, both the primordial ontological purpose and all the Covenants of God with His creation, including those of the Jews, were duly fulfilled in the personality, mission, and legacy of Prophet Muhammad (pbuh).

That is why Prophet Muhammad (pbuh) succeeded to the extent where no other prophet – or indeed anybody else in history - did, his universal revealed guidance (the Holy Qur’an and his Sunnah) has been perfectly preserved, and his civilizational legacy remained pure, flawless, and an everlasting source of inspiration and guidance for posterity.

Transformative Impact of Prophet Muhammad (pbuh) When Prophet Muhammad (pbuh) arrived on the scene, the Jews were living their tragic and unsolicited lives. Torn between the prospects of pursuing the shattered and clearly unattainable dreams and living the realities of the imposed life of exile (diaspora), national homelessness and suffering, there was no light at the end of the tunnel.

It certainly seemed so, however, Prophet Muhammad (pbuh) was sent as the last hope and a new lease of life, targeting each and every segment of human race: the oppressed and the oppressor, the weak and the strong, as well as the dishonored and the honored.

Everyone, individually and collectively, was afforded the opportunity of absolution and thus redeemed plus rejuvenated, to move on with a clean slate.

Because Muhammad (pbuh) was given as a mercy to all worlds, yet all creation, (al-Anbiya’ 107), all people were special and were God’s (chosen) people, and the whole earth was a promised land, in that man as a species has been created as the vicegerent or custodian of God on earth, and the whole earth has been rendered pure and a place of worship (a masjid or mosque). In Islam, in a way, everything and everyone is special, to some extent even holy.

Through the last Prophet, the Jews were given a choice: to follow him, redeem themselves and participate in the fulfillment of the Covenants, or to stay put and abandoned and cursed by the Almighty God and their prophets, continue as international pariahs to live their troubled lives. History is evidence that only a small portion of the Jews selected the former option, whereas the majority favored the second one.

The Jewish Predicament Accordingly, instead of reverting to the right path, restoring the Promised Land as the land of the ultimate truth and as part of a bigger and more consequential promised land (context), that is the whole earth, and living the lives of authentic devotion, obedience and self-worth, most Jews – remaining faithful to the patterns of their rebellious ancestors – resorted to the prospects of waywardness, abandonment – at once heavenly and earthly - isolation, suppression and ill-treatment, all in the name of their institutionalized narrow-mindedness, stubbornness, conceit and religious nationalism.

Despite this, the principles of tolerance, justice and peaceful coexistence were firmly established as fundamental rights for the Jewish community within the realm of Islam and its governance. Moreover, owing to its inclusive character, the access to Islam has never been restricted for the Jews. Muslims are ever ready to welcome and embrace them as their brethren. Their status was and remained the one of the “People of the Book”, hence Muslims are obliged to deal with them impartially and to argue with them in the most beautiful – and most productive - way.

As a small digression, Islam is intrinsically only against the lack of freedom, injustice, oppression and cruelty, regardless of who or where they may come from. Indeed, the Islamic notions of general acceptance, fair-mindedness and justice are devoid of bias towards any specific religion, race, culture or society. It transcends their artificial boundaries, operating at a higher level of meaning and experience. All people are the sons of Adam, created from soil and share the same existential destiny.

Surely, whatever befell the Jews throughout history - such as regular genocides, abuses, diaspora, ghettos, pogroms, antisemitism, stereotyping and scapegoating – were nothing but manifestations of God’s wrath against them, the consequences of their rejection or violation of His Covenants, and the effects of the causes they themselves were laying out for thousands of years. In short, the Jews keep harvesting what they had sowed.

The enormity of their predicaments is in direct correlation to the enormity of the privileges and responsibilities that had once been bestowed upon them.

Struggles and Choices The creation of the illegitimate geopolitical entity of Israel in Palestine in 1948 is the latest indicator of the persistent and apparently insolvable Jewish problem. Many believe that the existence of Israel is a good thing, however, they are mistaken. Apart from being illegal and unjustifiable - as much from the religious perspective of the mainstream Judaism as the perspective of rationality according to which each form of tyrannical occupation is illegal - Israel has been created because of the accepted wisdom that the Jews were not safe anywhere, especially in the West, the source of all recent Jewish sufferings.

Given that they could be neither accepted nor integrated into Western societies, the Jews had to be driven away – gotten ridden of – and confined to a distant and isolated place, like any other “plague” that refuses to go away. The state of Israel is an undeniable proof from the West that the historical misfortunes of the Jews were unavoidable, yet for the most part warranted, due to which the same trends were set to continue, for as long as there are underlying forces and catalysts, there will invariably be corresponding outcomes.

So, the creation of Israel was a message to the Jews and also the world that prevention is better than cure, that the West refused to take the blame for the problems at hand, and that they wanted to pass the responsibilities – and guilt - to another party (domain). Moreover, and perhaps most damagingly for the Jews and their future prospects, the illegal and repressive Israel entity pitted the Jews against their only friend and ally: Muslims, thereby narrowing down their outlooks and hopes to a zero.

The modern state of Israel is not a promised, but cursed, land for the Zionist Jews. It serves as the climax and, at the same time, most distressing display of antisemitism. It is a microcosm of everything a true Jew will never wish for, and of everything a true antagonist of Judaism and the Jews will ever want.

There were many in the Jewish circles who were able to understand this, voicing their disproval for the creation of Israel as an illicit entity within a foreign context. Such a move was bound to divest the Jews of whatever rights and statuses they were able to secure over ages for themselves in countries across the world.

Once a new state of Israel was created, the Jews all over the world will be branded strangers in their own lands, and their hard-won position as citizens and nationals of those lands will be undermined. They will then be required to relinquish what is known and established in exchange for what is uncharted and precarious.

The Paradox of Israel One of those enlightened and able to forecast the future was Edwin Montagu, an influential anti-Zionist Jew and the only Jew in a senior British government position, who wrote a memorandum to the British government in conjunction with the declared British willingness to establish in Palestine a national home for the Jewish people, later resulting in the Balfour Declaration.

In the memorandum, Edwin Montagu was clear that the idea of a Jewish nationhood was anomalous, for “there is not a Jewish nation”; that Palestine was not “associated with the Jews or properly to be regarded as a fit place for them to live in”; and that “when the Jews are told that Palestine is their national home, every country will immediately desire to get rid of its Jewish citizens.”

Edwin Montagu titled his memorandum as “On the Anti-Semitism of the Present (British) Government” implying that “the policy of His Majesty’s Government is anti-Semitic, (and) in result will prove a rallying ground for anti-Semites in every country in the world.”

In short, the formation of Israel was destined to be a mistake, bringing about more detrimental effects than advantageous ones for the Jewish population.

It follows that Israel proves that the West is a sworn enemy, whose animosity connived that the Jews lose whatever little positive options they had.

While historically the whole world was banishing and oppressing the Jews, it was only Muslims who kept extending a helping hand to them. Only in Islamdom could they find a sanctuary, and in Muslims a protective friend. While everywhere else they were “in exile”, in Islamdom the Jews were “at home.”

The genocidal behavior of Israel towards the people of Palestine in particular and Muslims in general - which is wholeheartedly backed by the institutionalized West - is making the Jews lose the friendliness and support of the Muslim world as well.

When that happens, the only party that will celebrate will be the West. They will boast to themselves that they have done it again, albeit in such a smart way that both the Babylonian king Nebuchadnezzar and the Roman general later emperor Titus will be as much proud as jealous.

The West killed two birds, in the form of Muslims and Jews, with a single stone, which is the creation of the Zionist Israel as the most functional framework for the achievement of the ultimate Jewish banishment, isolation and perhaps even annihilation.

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FRIDAY, JANUARY 19, 2024 • T H I S D AY

BACKPAGE CONTINUATION ALIKO DANGOTE, TAKE A BOW Dangote concluded that time has come for him to seek the services of a mediator of my skills set: a Yoruba journalist/political activist and protege of the Afenifere political establishment.

My job definition was to preclude the vulnerability of Dangote to being perceived as the business sector face of the venal Abacha military dictatorship. Now, as then, he was doing something unique in the (Nigerian economy prescribed) diversification of his business from commodity trading to industrialisation. My task was made easy by my conviction that I was selling a good product. My marketing pitch was that, even if he was unduly patronised by the political powers that be, we can see the evidence of what he was doing with the privilege. I could not say as much for his peers who were similarly patronised and had nothing to show for it other than fat Swiss bank accounts. If these others were to follow his example, Nigeria will today boast of a sizable industrial sector.

There is actually the instance of a Nigerian oil block owner who loudly proclaimed he does not know what to do with the billions of dollars he was getting (doing nothing) from his oil wealth.

Talk of the Nigerian resource curse syndrome. The positive Nigeria that is struggling to be born is that in which the many contemporaries of Dangote (who likewise acquire considerable resources from the primitive accumulation stage of Nigeria’s capitalist development) should equally embark on profitably ploughing back the accumulated capital into Nigeria’s economy.

As a student of political science, I was equally fascinated with his utility as a case study in the subject of the development of Nigerian capitalism. At close quarters, I saw in him an

entrepreneur who was driven by the mentality of a professional investor as against the instant gratification syndrome of the Nigerian casino economy. He had a long term vision of birthing an industrial conglomerate to which short term material gratification was subordinate.

There Is also the fascinating aspect of his Northern Nigerian pedigree. Weaned on the aspiration of emulating the feat of his great grandfather, Alhassan Dantata, (who was reputed to be the biggest Nigerian investor of his time) he is the exact opposite of the stereotype of the Northern elite as generally lacking in the ethic of hard work and productivity. I’m endlessly tickled by the observation that the biggest industrialist in Nigeria, by a wide margin, is from the relatively economically backward North! We may never know the degree but it is inevitable that he would have caught the fancy of quite a number of the up and coming generation of Nigeria, especially from the North as a worthy role model.

In contrast, I have been accused, with some justification, of being a professional antagonist of former President Muhammadu Buhari. I plead guilty as charged. In his ruinous and destructive bequest to Nigeria, one of the legacies I find particularly galling was the ideological reorientation of the North back to viewing government and public sector patronage and corruption as of the essence, as an indispensable source of unearned income and livelihood.

Wherever there was space and currency to be made in the Nigerian lingo of “juicy and lucrative” public postings, it is certain to attract the Buhari curse of Northern Muslim bias and nepotism. He was so blatant and unrestrained in this regard, that I came to the conclusion

that any attempt by his successors to redress the injury will look like discrimination against the pampered constituency.

Fate has conspired, once again, to crosscut another era of Yoruba political triumphalism with an unprecedented Dangote industrial expansionism, undergirded by a similar refrain of instigating President Bola Ahmed Tinubu to go after the acclaimed richest African. With the economically pivotal potential of the Dangote refinery, such would have typically amounted to cutting the Nigerian nose to spite its face.

Some were actually rooting for the non fruition of the mega project.

I do not dismiss nor trivialise the allegations against him but they are inevitably exaggerated.

Right now in Nigeria, he personifies, warts and all, the Peter Obi political vision of moving Nigeria from ‘consumption to production’. It is the reason I’m a fan of the Max Weber thesis of ‘the protestant ethic and the spirit of capitalism’, especially the inference of attitudinal dedication to money-making and rational self control as sine qua non to capitalist development. I’m less enthused with the Karl Marx obverse- ‘dialectical materialism’.

It is my understanding that both Weber and Karl Marx, (patriarchs of the theoretically divergent Marxists and Capitalists school of thought) agree to the independent variable role of the wealth accumulator in the causation of capitalist development; the former negatively so and the latter positively. The Marxists assert that progression to capitalist development is necessarily preceded by the utilisation of the proceeds of primitive accumulation of capital to seed and grow industrialisation.

Whereas in the cultural origins of capitalism, Weber argues that capitalism is rooted in the cultural mentality that deems wealth creation as a vocation, a calling and specifically, the protestant ethic. And according to the book of Proverbs, ‘biblical wealth rarely just falls into one’s lap.

God’s blessing of wealth is usually obtained by great wisdom and responsibility and through discipline, hard work, savings and investment’, Some years ago, there was a documentary that ran on the DSTV cable TV titled “the makers of America”. The cast comprised five historical figures including JP Morgan and Rockefeller; I cannot now remember the other three but they were all entrepreneurs and high stake investors. As distinguished as many American politicians were, no mention was made of any. This remarkable documentary was only being consistent with what we were taught in our political science classes- that the economy is the substructure, the foundation upon which political superstructure is anchored.

Though not a politician, he plays a considerable role in forging and fostering national unity and integration. His network of friends and associates cuts across the nation and his Lagos residence can be mistaken for a permanent national conference in session. On account of his nationalist credentials, cosmopolitan panache, discipline, humility and globally acclaimed entrepreneurial success, he had intermittently come under pressure to run for the Nigerian presidency. Quite significantly, he would have no need nor impulse to turn the public treasury into an open sesame for psychotic pillage. I think we should just leave him to continue to do what he knows best, industrialising Nigeria and Africa.

MR PRESIDENT, WHO IS IN CHARGE? establish themselves and undermine the sanctity of life and Nigeria’s corporate existence.

Between 2011 and 2023, Nigeria budgeted N14.204 trillion for security and defence. This figure is exclusive of supplementary approvals through the years including the controversial withdrawal of $1 billion from the Excess Crude Account in 2018. Security Votes to State governments have exceeded N3 trillion and have remained unjustified as no state has been able to rise above the menace of insecurity. Insurgents daily taunt the Nigerian security forces through audacious attacks. They expose the vulnerabilities of our armed forces with attacks on multiple fronts across all regions of the country. Their weapons have become more sophisticated through the years, while members of the Nigerian military lament about inadequacies of personnel and equipment.

Our security challenges appear to have become a bottomless pit for our depleting national resources.

In July 2023, the Chief of Army Staff, Lieutenant General Taoheed Lagbaja assured Nigerians that the Nigerian Army has sufficient equipment to tackle insurgency, banditry, kidnapping, and other crimes.

However, in December 2023, whilst appearing before the Senate Committee on Defence, made a call for more funding again “to nip in the bud, incessant cases of insecurity in the country”.

The IGP, Kayode Egbetokun echoed these sentiments while addressing the House of Representatives in November 2023. The Minister of Defence, Alhaji Abubakar, made a similar call in December 2023.

This raises questions about the appropriation of the billions and trillions deployed over the years.

Allocations to defence and security, which includes the military, police, intelligence services, Civil Defence and paramilitary services, have increased by 932.9% from 2011 (N348 billion) to 2024 (N3.25 trillion).

Succeeding governments have prioritised defence and security in the annual national budgets. However, we must go beyond throwing money at the security challenges and match this prodigious funding with corresponding structures that ensure accountability.

With the absence of accountability or improvements in the security conditions of the country, it would appear that a special ATM economy has evolved for the benefit of security elites and accomplices in the executive and legislative arms, at both the federal and state levels of government.

Criminals have become more impudent in their enterprise with the possession of advanced weapons and alleged collusion with security agencies. The Plateau state massacre was preceded by a note of warning to the communities that were attacked.

The availability of this free intelligence made no difference and security agencies were absent in an attack that was reported to have lasted over 12 hours. Members of their community made efforts to reach security agencies via the call numbers provided without success, raising concerns about the complicity of the security forces with the attackers.

The country has been in distress in the past week over the killing of Nabeeha (18) and Folorunsho (13) after several families were kidnapped from their homes in Abuja, the seat of government. The oldest children of these families were killed after the kidnappers were informed that the ransoms were incomplete and the ransom amounts for the other victims were subsequently increased.

The audacity of the abductors is both infuriating

Tinubu and baffling. Their actions openly challenge the Nigerian security agencies as either incompetent or complicit.

Criminals at different levels have not failed to fulfil their threats to harm Nigerians, while the Nigerian leadership and armed forces seem constrained in their ability to protect Nigerians.

Kidnappers name their ransoms and increase them with confidence whilst watching Nigerians scamper around to raise the ransom amount for their latest victims.

The security forces seem bereft of ideas, competence, and courage to apprehend these malefactors, keep Nigerians safe, and restore sanity.

Rather, many have also become a threat to Nigerians through brutality, oppression, disregard, and sabotage that has led to the avoidable deaths of our soldiers and the destruction of military resources.

Mr President, again I ask, who is in charge?

In response to the request of Service Chiefs and the Inspector General of Police, the security and defence budget for 2024 reflects a marked increase from N2.98 trillion in 2023 to N3.25 trillion, a 9% increase. With the deteriorating insecurity despite enormous funding in the past years, Mr President must take charge and deploy the coercive

powers of his office to demand accountability for every naira allocated to the security sector.

President Tinubu must, as a matter of urgency, address the claims of corruption, collusion, and disenchantment within the armed forces.

We must depart from a budget performance report that only highlights percentages of allocated amounts spent. Security budget utilisation must be closely scrutinised on an ongoing basis by the Senate Committee on Defence and the National Security Adviser, with non-sensitive portions shared with the public.

A country embroiled in bloodshed, ethnic disputes, kidnappings, and crime on many fronts must implement heavy scrutiny of every amount allocated to the Ministry of Defence and the Nigerian Armed Forces.

We must begin to see the fulfilment of line items included in these budgets year after year.

Our intelligence services must be robust, earnest, and deftly integrated with other actors in the security sector.

Years of extensive financing must reflect in the continuous modernisation of our security architecture and services. Security Services must leverage innovation in the industry, deploying software and hardware technology that improves

administrative and operational efficiency.

We also need to ensure increased police presence in suburbs, city centres and outskirts of cities that are prone to security breaches. There are no public records of additional recruits to military personnel, with available records showing a static figure of 223,000 members since 2018. It is critical to boost the manpower of our security agencies.

The above recommendations are familiar to the government and security operatives. However, we must go beyond knowledge to action.

In the same vein, the debate for the decentralisation of security architecture must reach a pragmatic conclusion and proceed to implement a framework that solves local crimes and security issues with local attention from the affected state governments.

The welfare of all servicemen, from the paramilitary to the police and soldiers on the frontlines must receive the utmost attention.

Reassurances of improvements to welfare by successive Service Chiefs, IGP, and the government have only been followed by further deterioration of living barracks and remuneration. If we are serious about restoring discipline to the ranks and resolving security challenges, policies for the well-being of the officers and their families, serving and retired, must be rightly implemented.

We are in a state of emergency. In line with the words of General T.Y Danjuma in 2018, the Governors in the middle belt are also calling for the armament of citizens to protect themselves.

The Chief of Army Staff, Lieutenant Lagbaja raised objections to this advice, stating that it would lead to anarchy.

The COAS must be aware that we are already teetering on the edge of anarchy. Nigeria has become a country where no citizen can boast of being safe, while its top government officials and most wealthy grapple for the privileged protection of security agents. We are not unaware that members of the elite brigade of guards were attacked in July 2022. That brazen attack demonstrated that insurgents will stop at nothing to achieve their enterprise. It shows that no one is safe and that the protection of one is the protection of all.

As the news of the Nabeeha and Folorunsho killings swirled in the media, Nigerians did not react by calling on the government or security agencies to apprehend the abductors and rescue the victims. Nigerians turned to themselves to raise the funds required for their release.

It would be ill-advised for the President and the service chiefs to ignore the underlying message that there is a dire lack of confidence in the government and security forces to protect the citizens. The dreaded anarchy is only moments away and no one will be safe if it happens.

Mr President, we have gone beyond being “troubled” and “disheartened” by the deaths of citizens across the country.

It is in our collective interest that you awaken to the reality that Nigeria is on the brink of failure.

You must rise to the occasion of the office you tenaciously secured and enact your command of the armed forces to benefit the Nigerian populace.

The world cannot contain Nigeria if we fall apart.

I wish Mr President and Nigeria great success.

•Frank Nweke II, a former member of Nigeria’s Federal Cabinet (2003-2007) and Director General of the Nigerian Economic Summit Group (2009 -2014) is a Senior Visiting Fellow at the Lagos Business School.

39

T H I S D AY ˾ FRIDAY, JANUARY 19, 2024

FRIDAYSPORTS

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

0811 181 3083 SMS ONLY

Super Eagles Revive their AFCON 2023 Ambitions with Win Over Hosts Côte d’Ivoire Victor Osimhen voted Man-of-the-Match

Duro Ikhazuagbe

converted by On-field Captain, William Troost-Ekong, gave Nigeria victory against the Elephants who won their opening game against Guinea-Bissau on Saturday.

African Player of the Year, Victor Osimhen, won the penalty after he was infringed in the box by Ivorian defender Diomande. It took few

Nigeria’s Super Eagles revived their fourth Africa Cup of Nations title on Thursday evening after defeating hosts country Côte d’Ivoire 1-0 to join Equatorial Guinea at the top of Group A. A lone 55th minute penalty

GROUP A E’Guinea Nigeria C’ d’Ivoire G’Bissau

P 2 2 2 2

W 1 1 1 0

D 1 1 0 0

L 0 0 1 2

GF 5 2 2 2

GA 3 1 1 6

GD 2 1 1 -4

Pts 4 4 3 0

minutes review by VAR to award Nigeria the spot kick. Ekong blasted the ball into the net from the spot.

Expectedly, Osimhen was voted the Man-of-the-Match.

It was Nigeria’s first defeat of the Ivorians in their home in 10 matches. The victory has now taken the pressure off the Eagles who drew their opening game 1-1 with Equatorial Guinea last Sunday.

With four points from two matches, another victory against Guinea-Bissau on Monday will take Nigeria to the top of the group

on seven points and remain at the Stade Alassane Ouattara in Ebimpe area of Abidjan for their knockout round match.

As early as the eighth minute Osimhen had a chance to open scores, but his dink inside the box was far off the target.

And almost immediately Cote d’Ivoire seized the momentum and also missed hitting the back of the net. Eagles goalkeeper Stanley Nwabali made himself big after confusion in defence between Zaidu Sanusi and Calvin Bassey.

It was a bright start by Nigeria, but AFCON hosts pushed forward on a number of occasions in search of the opening goal.

Earlier yesterday, Equatorial Guinea defeated Guinea Bissau 4-2 to go four points. Equatorial Guinea with same four points from two matches as Nigeria, are leading the group on goals difference while Cote d’Ivoire dropped to third on three points and Guinea Bissau are bottom without any points.

The Super Eagles will tackle Guinea Bissau on Monday in a final

group game, while Cote d’Ivoire take on surprise group leaders Equatorial Guinea.

AFCON RESULTS E’Guinea 4-2 G’Bissau C’d’Ivoire 0-1 Nigeria

TODAY C’Verde v Mozambique Senegal v Cameroon Guinea v Gambia

Goldberg, Life Continental & Zagg Celebrate Eagles’ Epic Victory over Elephants The Super Eagles of Nigeria tied for the top spot in Group A following a thrilling lone-goal victory over hosts, Côte d'Ivoire, in the second match of their AFCON 2023 journey.

Through the unwavering support of official sponsors Goldberg, Life Continental Beer, and Zagg Energy Malt Drink, the electrifying atmosphere at the Stade Olympique Alassane Ouattara resonated with the vibes and passion of millions of fans across Nigeria and beyond.

Goldberg, Life Continental, and Zagg energy drinks played a pivotal role in amplifying the fans' frenzy.

Their live match viewing centres at Terraform Restaurant in Lekki Phase 1, Vibz Arena & Lounge in Akure, and Barbados Frigate and Bar in Festac Town provided the perfect platform for passionate fans and supporters to come together, share their passion, and witness the Super Eagles' triumph in style.

The pre-match excitement was equally palpable, with fans

eagerly making their predictions in the #OmoluabiGameOn and #NaijaGameOn comment sections.

"We are incredibly proud of the Super Eagles' performance today," said Head of Marketing Communications, Nigerian Breweries Plc, Sandra Amachree.

"Their dedication and spirit truly reflect the resilience of the Nigerian people. Goldberg, Life Continental lager, and Zagg energy drink have always been champion of Nigerian excellence, and we are thrilled to be part of this historic moment."

Life Continental Beer, known for its unique taste and refreshing character, also played a significant role in fuelling the fans' fervor.

Their various activations throughout the country provided opportunities for supporters to connect, celebrate, and raise a toast to the Super Eagles' success. Zagg Energy Malt Drink, the invigorating malt beverage, kept the fans' energy levels high throughout the match.

Obaseki Hails Super Eagles Over AFCON Win against Elephants The Edo State Governor, Mr. Godwin Obaseki, has congratulated the Super Eagles of Nigeria for their 1-0 victory against the host nation, Côte d’Ivoire in their second AFCON 2023 match.

In a statement, Obaseki said, “I heartily congratulate Super Eagles of Nigeria for their well-deserved victory over the host nation, Côte d’Ivoire in their second AFCON

Group A match.

“The Super Eagles showed they were a superior team, showcasing their exceptional talent, skills and resilience, leading to the 1-0 win over the Elephants of Côte d'Ivoire.

“As they progress in the competition, I charge them to continue on their impressive run so they can place Nigeria on the continental map for good.”

Super Eagles On-field Captain, William Troost-Ekong (left) heading ball away from the reach of Côte d’Ivoire’s Jean-Philippe Nil Krasso during yesterday’s AFCON 2023 Group A clash at the Stade Alassane Ouattara in Abidjan

2024 NPA/ GTCO Lagos International Polo Set to Gallop off Jan. 23 The 2024 NPA/ GTCO Lagos International Polo Tournament is set to gallop off from Tuesday January 23and thrill till February 18, 2024with a record number of teams jostling for top honours in four major prizes and six subsidiary laurels.

A statement from the Tournament Committee stated that the prestigious Lagos polo extravaganza that marks its 120th anniversary this year, has over the century remained a captivating fusion of elegance, excitement and cultural vibrancy transcending traditional boundaries to unite the royal sport of polo with the dynamic energy of Lagos.

The statement added that for the

first time in over a century and still counting rich history, the prestigious Lagos polo festival would be decided over four weeks of high octane polo showpiece, making the event the biggest polo tournament in Africa.

Over 30 teams fortified with awesome horsepower and top players across the world have been confirmed to vie for top honours in the month-long for the prestigious polo fiesta that pride itself as the first polo tournament in the country dating back to the early 1900s.

Details of the schedules shows that participating teams will be jostling for the event’s biggest prize, the Majekodunmi Cup, the Open Cup, the Lagos Cup, the Silver Cup

and a handful of subsidiary prizes respectively.

Subsidiary prizes to be competed for during the 120th anniversary edition of the event include the Oba of Lagos, Governor’s Cup, Adedapo Ojora Memorial Cup, Sani Dangote Cup, the Italian Ambassador’s Cup, Lagos Heritage Cup, Chief of Naval Cup, and the Independence Cup, among others.

Matches for the Open Cup will thrill from January 23 to January 28, 2024, while the Majekodunmi Cup will take centre stage in the second week from January 30 to February 4, 2024.The third week will see teams vying for the Low Cup between February 6 and 11, 2024.

The grand finale week that would draw the curtain on the annual fiesta that is steeped in tradition and elegance, will see a crowd of equally matched low-goal teams slugging it out for the Silver Cup from February 13 to 18, 2024in what promises to be a fitting cap to Africa’s richest polo extravaganza.

Tournament Manager, Olumayowa Ogunnusi who commended the main sponsor GTCO and other sponsors stated that having gained reputation as one of the biggest polo tournaments in Africa, the Lagos Polo Club look forward to delivering great values for the sponsors and participants during the epoch fiesta.

The growing Motorsports industry in Nigeria got a kick over the weekend when Nigeria’s international Kart racer, Phillip Gana, announced his readiness to feature and also sponsor the few drivers at X-Kart Series in Ogun State to be hosted at the Work and Play Arena on Sagamu-Abeokuta Express Way. President of the Work and Play group, Ade Ojuoko, announced the celebrated racer’s inclusion when fleshing out plans for the earlier announced X-Kart Series later in February.

“I guess it is a good thing that the Motorsports community is

generating traction to have attracted the interest of Phillip Gana. As one of the front runners in the promotion of the sports, we believe this will further our developmental plans in several ways.”

Work and Play partnered Metallic Horses to host an inaugural event at the purpose-built race track along Shagamu Express road last December 16, 2023. It paved the way for the series lined up for February and March of 2024.

Ojuoko also announced that Phillip has hinted that his team will be drawn from made up of teenage drivers between the ages of 14 to 19.

“The X-Kart series is essentially a youth-driven sport and Gana will be featuring a largely teenage team and that also leaves the other competitors in the coming series challenged.”

He confirmed that the off-road series that will also have its Ondo version in March is being checked on all sides for safety.

“From our gears to the building of the karts, safety is our first consideration. There are also other safety protocols, that include the Federal Road Safety Commission’s checks on the facilities and all Karts, and the inclusion of first aid officials at all event venues.”

Phillip Gana...coming to compete in X-Kart Series in Nigeria

Tinubu Has Signaled New Dawn for Super Eagles, Says Alalade Motorsport: Maiden X-Kart Series Get International Backing Super Eagles’ journey to a record fourth Africa Cup of Nations title chase in Abidjan, Cote d’Ivoire has been tacitly bolstered in an unprecedented presidential “carte blanche” issued by President Bola Tinubu, according to the Chairman of Karamba Football Club, Ada Land, Osun State, Chief Olusegun Alalade.

Alalade, a financial expert and legal practitioner, commended President Tinubu and the Minister of Sports, John Owan Enoh for their deliberate and conscious efforts to set a new path to rekindled glory and hope for

Super Eagles with the timely approval of funds ahead of the AFCON. Chief Alalade said the timely release of funds to the team has proven a new dawn for Nigeria in sports development by President Tinubu’s administration. The President, last week announced the release of N12billion to the Nigeria Football Federation (NFF) to enable it offset all outstanding debts owed the team as well as cover allowances including medical, travel and accommodation expenses for this year’s AFCON Championship.

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Buhari to Emefiele’s Critics “I met Emefiele in office when I came, and unless there was firm evidence against him, it would be unfair, and an act of injustice to remove him, acting on hearsay. If you punish a man unjustly, it could dog his footsteps throughout life, so if you would punish, you must have evidence. And you should know that you won’t be there forever. You would leave one day. I’m very conscious about the morale of people who serve with me.

I also expect whoever succeeds me to be fair to me. I am very conscious of fairness” –Former President Muhammadu Buhari is quoted to have said in chapter 12 of the book: “Working with Buhari, Reflections of a Special Adviser on Media and Publicity (2015 - 2023)”, authored by his former Media Spokesman, Femi Adesina.

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AKINOSUNTOKUN DIALOGUE WITH NIGERIA

akinosuntokun@thisdaylive.com

Aliko Dangote, Take A Bow

“I

am excited that we are back here today in Maisaiti district, Ndola, this time to commission our new state-of-the-art integrated cement plant, with a capacity of 1.5 million metric tonnes per annum, along with a 30 megawatts of coal-fired plant. This is our sixth integrated cement plant outside Nigeria.

The others are located in Senegal, Cameroun, Tanzania, South Africa and Ethiopia” “Dangote Industries Limited has helped Nigeria become not only self-sufficient, but indeed a net exporter of cement and by the time we complete our projects in agriculture and the petroleum sectors, we will also expect Nigeria to become not only self-sufficient but also a net exporter of rice, sugar and refined petroleum products.

Over the next five years, our target is to expand installed cement manufacturing capacity in Africa outside Nigeria to 40 mtpa at par with Nigeria during the same period”. - 21st of August 2015 “Dangote Oil Refinery is a 650,000 barrels per day (BPD) integrated refinery project under construction in the Lekki Free Zone near Lagos, Nigeria. It is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility”.

“The Pipeline Infrastructure at the Dangote Petroleum Refinery is the largest anywhere in the world, with 1,100 kilometers to handle 3 Billion Standard Cubic Foot of gas per day. The

Dangote Refinery alone has a 435MW Power Plant that is able to meet the total power requirement of Ibadan DisCo*.

“The Refinery will meet 100% of the Nigerian requirement of all refined products and also have a surplus of each of these products for export.

Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $21 Billion per annum of Nigerian Crude. It is designed to process Nigerian crude with the ability to also process other crudes”.- 10th of January 2024 It was at a comparable moment of Nigeria’s political history (marked by Yoruba political triumphalism), that I joined the Dangote Group in 1999. The pertinent background was the unbroken chain of 18 years of Northern supremacist military dictatorship that culminated in the virulent Sani Abacha regime. Arrayed against the military dictator were the largely Yoruba based pro-democracy coalition that fought for the validation of the presidential election result of June 12 1993 (personified by the winner, Chief Moshood Abiola).

It was in acknowledgement of Abiola’s martyrdom that recourse was made to compensate the Yoruba with the Nigerian presidency. Hence the contrivance of securing the presidential tickets of the two dominant parties, (Peoples Democratic Party, PDP and the All Peoples Party, APP/Alliance for Democracy, AD coalition) for two Yoruba candidates, Chiefs Olusegun Obasanjo and Chief Olu Falae. For the Yoruba, it was heads you win and tails, you do not lose. Inevitably, a Yoruba was guaranteed to emerge the winner.

This triumphalism had impacted critically on Dangote. There were loud murmurs and animus

that the concession to cite two or three major factories in the Apapa port-among them the third largest sugar refinery in the world, was a product of Northern nepotism in general and specifically under Abacha. A friend of President Olusegun Obasanjo was dispatched to enlist the overriding support of their most influential ‘son’ to send Dangote packing from the port. Those who know Obasanjo can very well predict his reaction in such circumstances. He walked the Yoruba emissary out of the villa and assigned him the status of persona non grata from that day on.

The general belief and outrage of the Lagos business elite was that Aliko Dangote had been able to phenomenally grow his business (especially the concession of siting his Sugar Refinery plant at the Apapa ports) at the expense of fair competition and level playing ground. That he had been enabled by discriminatory practices and privilege bestowed by the likes of Abacha on fellow Northerners in the economic sector.

Subsequently the political grievance evolved into the intimations of a hostile business environment for the Dangote brand. Confronted with the dilemma and the need to bridge the emergent chasm between him and the Yoruba oligarchy, Continued on p page g 38

FRANKNWEKE Mr President, Who is In Charge?

GUEST COLUMNIST

I

have had the privilege of high office and can state without equivocation that the office of the Nigerian president is one of the most powerful presidencies in the world with enormous powers, coercive and otherwise.

The President is the Commander-InChief of the Armed Forces. He has ultimate control of the activities of the armed forces and all other uniformed and non-uniformed security services in Nigeria. He decides by nomination and appointment, members of the judiciary, the executive, and heads of national bodies across the country. In addition, he enjoys the effects of an illusory separation of powers with the National Assembly that has largely existed at the behest of the executive office. It is also the responsibility of the president to set the moral and cultural tone of the entire nation. The President has ultimate responsibility for the welfare and well-being, the security, development and good governance of the federation and citizens of Nigeria.

Despite this remarkable availability of power, the lackadaisical approach to the deteriorating security situation in the country begs the question - who is really in charge?

Mr President, you have been sworn in. You have appointed the members of your government, represented the country on the international stage, and presented a budget; but the greater duty of the presidency is the security of life and property.

I must confess that it was a shock to find the Christmas Eve massacre in several communities in Plateau State and the ‘accidental’ bombing of citizens in Tudun Biri, Kaduna, by the Nigerian army absent from the President’s New Year speech. Considering that your only reference to these subjects has been through surrogates, direct references to the subjects would have been the respectful and conscientious thing to do.

The Christmas Eve massacre in Plateau State left over 200 people dead and more than 300 injured. This horrendous attack and others that took place during the festive period are not isolated occurrences of insecurity in the country.

Convoys of political officers, including a sitting governor are attacked with a heightened sense of boldness and impunity. Nigerians have almost become numb to the constant reports of terrorism, banditry, robberies, kidnappings, mob justice, and the sacking of whole communities.

The campaign of genocide in the middle belt has unleashed increasing terror for over a decade, with the deliberate killings of indigenes by so-called herdsmen who brandish sophisticated weapons.

The previous administration under Buhari paid lip service to the safety of citizens in its 8 years of existence. Instead, there was a concerted effort to placate the terrorists at the expense of the victims. The resistance by the communities and states involved was met with barely veiled threats

and insensitive comments from the presidency with the administration’s spokesperson, Mr Femi Adesina, once saying, “Ancestral attachment? You can only have ancestral attachment when you are alive. It is better to be on the land than under it.”

Following the staunch rejection of the landgrabbing efforts in the guise of Cattle Colonies, Cattle Routes, RUGA, and Grazing Reserves, the killing spree intensified, sending scores of Nigerians to the grave and chasing thousands more out of their homelands. Concurrently, security across the country deteriorated.

So-called statesmen and terrorist apologists consistently made flippant and inflammatory comments, further exacerbating an already volatile situation.

Today, Sheikh Ahmad Gumi, the self-acclaimed spokesperson for terrorists continues to stoke the embers of hatred with insensitive and exasperating comments, making bogus claims of victimisation of Muslims.

His October 2023 diatribe was a compendium of misinformation, hatred, and unfounded paranoia.

His arrogance has been fed by the government’s kid gloves treatment of his insensitive and inciteful statements such as “Kidnapping children from school is a lesser evil”, “How many people have bandits killed? A few”, and “The military is responsible for terrorist attacks and pushing the blame on Boko Haram”.

There is no cogent reason to explain why the State Security Services has yet to caution his tirade of misinformation and revulsion towards Christians, Southern Nigeria, and other groups whose beliefs differ from his own.

Mr President, who is in charge?

We can not afford a presidency that inherits the erstwhile administration’s collusive, dismissive, and patronising approach to security, while the country continues to burn on multiple fronts.

The security of lives must be the priority for this administration. Tackling these factors of insecurity are precursors to the success of the president’s economic agenda to ensure food security, poverty alleviation, reduced unemployment, and social security. Food inflation rose to 33.93% in December 2023 and will continue its upward trend if farmers are unable to safely return to their farms.

Ali Ndume, the Chief Whip of the Nigerian Senate, has consistently advocated the increase in the budget for defence, citing underfunding as the excuse for the poor performance of the military and security services at large. There is no doubt that security demands extensive financing.

But we must interrogate the utilisation of the trillions of naira allocated in the past 13 years.

The defence budget has grown year after year, yet insurgents, terrorists, and bandits continue to Continued on page 38

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