WEDNESDAY 24TH JANUARY 2024

Ndume to Tinubu: There Will Be Consequences for Moving CBN Depts, FAAN to Lagos Says president being misled by Aso Rock cartel

Emmanuel Addeh in Abuja The Chairman, Senate Committee on the Army, Senator Ali Ndume,

yesterday warned President Bola Tinubu that there will be political consequences if he insists on moving some departments of the

Central Bank of Nigeria (CBN) and the Federal Airports Authority of Nigeria (FAAN) headquarters to Lagos.

Maintaining that the president was being misled by a cartel he termed “Lagos Boys”, Ndume who spoke on Channels Television,

argued that the so-called members of the cartel do not know how Nigeria works and will not be able to help the president when

the repercussions come.

The CBN in an internal memo Continued on page 10

Wednesday 24 January, 2024 Vol 29. No 10514. Price: N400

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CBN Hinges Monetary Policy Easing on Reduced Inflation... Page 36

Wike: We’ll Provide Security Agencies Whatever Will Make FCT Safe, Secure FCTA to profile uber drivers, ban unpainted taxis

Olawale Ajimotokan in Abuja

The Minister of the FCT, Nyesom

Wike, has reiterated the government's commitment to the security of the Federal Capital Territory

by according full support to the security agencies in the fight against bandits and kidnappers.

Wike gave the assurance yesterday at a Town Hall meeting on insecurity at the Kwali Area

Council, where he and the Minister of State for FCT, Dr. Mariya Mahmoud met with traditional

rulers, the heads of security agenContinued on page 10

At Bilateral Talks, Blinken Says Tinubu's Reforms Are Bold Discloses US entrepreneurs eager to invest in Nigeria Canvasses ease in capital repatriation Deji Elumoye in Abuja President Bola Tinubu on Tuesday held bilateral talks with the United States Secretary of State, Antony Blinken, who lauded some of the bold economic reforms embarked upon by the president since he assumed office on May 29, 2023.

Addressing newsmen in company with Nigeria's foreign affairs minister, Yusuf Tuggar, after meeting with Tinubu, Blinken welcomed the president's “bold reforms to unify the currency and end fuel subsidy”.

He stressed the need to remove impediments to capital repatriation.

According to Blinken, “Nigeria offers real opportunities for investors.

At the same time, I think it's no secret that there remains long term challenges that need to be removed to be able to really unlock the full potential, making it easier for foreign companies to repatriate capital.

“There remains some impediments that we hear from our own business community that I think stand in the way of maximising those opportunities. One is the repatriation of capital. I know that the central bank governor is working on that.

Continued on page 10

welcome to nigeria...

President Bola Ahmed Tinubu (right) welcoming United States Secretary of State, Antony Blinken, during Blinken's visit to Nigeria at the presidential Villa, Abuja... yesterday

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

NEWS

Chevron International Visits the Villa...

L-R: Chairman, International Leadership of Chevron Corporation, Mr Clay Neff; President Bola Ahmed Tinubu; Chief of Staff to the President, Femi Gbajabiamila and Minister of Gas Resources, PHOTO: GODWIN OMOIGUI. Ekperikpe Ekpo, during President Tinubu's audience with Chevron International at the Presidential Villa Abuja....yesterday

EITI: How Incessant Sack of NEITI Boards Impact Nigeria’s Transparency Ranking Delegation raises questions over opacity in forward sales of Nigeria’s oil Wants NNPC to disclose full text of oil, gas contracts

Emmanuel Addeh in Abuja The Extractive Industries Transparency Initiative (EITI), the global standard in the promotion of open management of oil, gas and other mineral resources, yesterday blamed Nigeria’s incessant dissolution of the board of its Nigerian branch for its moderate transparency score in its latest ranking of member countries.

A delegation from the Oslo, Norway-based organisation, which is currently in the country, told journalists in Abuja that the frequent disruption of the activities of the board as well as the refusal of state-owned oil company to make full disclosure in its forward oil sales and other contracts also negatively affected Nigeria’s position.

In 2003, under the Olusegun Obasanjo administration, Nigeria voluntarily signed up to the global initiative as part of the comprehensive socio-economic reform programme, eventually setting up the Nigerian Extractive Industries Transparency Initiative (NEITI).

Some members of the EITI delegation who are currently in Nigeria to meet with stakeholders include: EITI’s Deputy Executive Director, Bady Baldé; Technical Director, Alex Gordy and Regional Director, Anglophone and Lusophone Africa, Gilbert Makore.

While acknowledging that some progress had been made, the organisation which recently ranked Nigeria 72 per cent (moderate) in its assessment covering 2019 to 2022, said its officials

were in the country to convey the outcome, explain the main findings and highlight areas of improvement on the assessment to stakeholders.

Deputy Executive Director, Baldé said that though the “validation” was not a “pass or fail exam”, it was to assess the extent to which member countries are adhering to the EITI principles requirements that they subscribed to.

“Going back to the NEITI Act of 2007, it establishes an independent entity that is supposed to function in a multi-stakeholder (board) nature that supervises implementation in the country.

“Unfortunately, that entity has not functioned as intended in the last three years or so. And that is in part due to a vacancy and extended period of vacancy of the multi-stakeholder board itself, which is supposed to oversee the implementation here in Nigeria.

“So, this was highlighted as a significant area of concern, because multi-stakeholder is at the core of the EITI process. So it's important that institutions that were foreseen there are functioning adequately.

So that vacancy was one issues of concern that that led to this mission,” he added.

The NEITI board was one of the boards dissolved last year by President Bola Tinubu. He has since then not set up a new multi-stakeholder board to oversee the activities of NEITI. He stated that there was the need for improvement in some areas in the newer aspects of the standards such as the requirement to disclose the full text of contracts and licences in the mining, oil and gas sectors.

“The validation found that key contracts, particularly in the oil and gas sector, remain not publicly accessible,” he stressed.

The Technical Director, Gordy, said there were still questions over the full

To support sustainable infrastructure development across Africa, the International Finance Corporation (IFC), the private sector arm of the International Monetary Fund (IMF) has announced a $20 million equity investment in the Africa50 Infrastructure Acceleration Fund (IAF Fund), which will invest in digital infrastructure, renewable power and energy, transportation, logistics, and water and sanitation projects on the continent.

The fund aims to invest in projects across Africa, where the private sector is playing an important

of those agreements...the terms of those agreements remain unclear, and therefore it is not clear to the Nigerian citizens how much of future oil production has effectively been pledged to service those arrangements,” he said.

A number of questions, he said, still remain around other transactions, including the over N3 billion AfreximBank oil-for-debt loan.

According to him, the fundamental objective of the disclosures is to inform the public of whether it is a fair deal or whether it’s in line with prevailing market conditions or whether there is something to have to explain.

‘Over 90 Nigerian Lecturers Benefit from TotalEnergies, NNPC University Exchange Programme with Massachusetts Institute’ Peter Uzoho Over 90 lecturers from Nigerian universities have so far participated and benefited from the TotalEnergies' Empowering The Teachers (ETT) fellowship programme being undertaken in collaboration with the Nigerian National Petroleum Company Limited (NNPCL) and the Massachusetts Institute of Technology (MIT), United States.

The ETT fellowship programme launched in 2013, was aimed to further improve the quality of teaching and learning of science and

engineering in Nigerian universities through exposing the participants to the innovative and cutting-edge teaching methods used at the MIT to enable them mould students into industry-ready products.

Delivering his goodwill message at the ETT Symposium and Awards ceremony held yesterday in Lagos, the Managing Director, TotalEnergies Upstream Nigeria Limited, Mr. Matthieu Bouyer, who disclosed this, said the programme was another educational initiative his organisation, NNPC and partners have continued

to invest in to further improve the quality of learning in Nigeria.

He explained that under the ETT programme, academics selected from African universities spend one intensive and inclusive semester acquiring knowledge on the innovative and cutting-edge teaching methods used at the MIT to mould students into industry-ready products.

Bouyer, added that the aim of the initiative was to foster new ways of teaching science and engineering in African tertiary institutions in a bid to produce experts in that field that could compete with their

IFC Invests $20m in Africa50 Fund to Support Sustainable Infrastructure Devt

Ndubuisi Francis in Abuja

disclosure on some deals, including the sale of future oil to offset debts

by Nigeria, among others.

“A final issue I'd like to highlight is the issue of resource-backed loans, pledging of future oil production in repayment of various types of loans, what I believe is termed forward sales in some scenarios in Nigeria.

“And there are a number of these different resource-backed loans, ranging from the likes of Project Eagle, and Project Cheetah but also NNPC acquiring an equity interest in the new Dangote refinery.

“And there remains much to be done in terms of clarifying the terms

role supporting infrastructure development.

The fund’s focus on the digital infrastructure and energy sectors aligns closely with several World Bank Group initiatives and IFC’s strategy to support projects that deliver high development impact.

The fund’s first close secured $222.5 million in commitments, including from 16 African institutional investors. The fund’s final target close is $500 million.

The Chief Executive Officer of Africa50 Group, Alain Ebobissé said: "We are thrilled to see such strong support from African institutional investors for the Africa50

Infrastructure Acceleration Fund.

“This achievement is a testament to the increasing role that African institutional investors are playing in financing the real economy and unlocking Africa’s potential. The Africa50-IAF is the first of a suite of new investment instruments that the Africa50 Group plans to raise as we seek to mobilize further private sector capital from Africa and globally into African infrastructure.”

On his part, IFC's Regional Industry Director for Infrastructure and Natural Resources, Africa, Sarvesh Suri, said: “Investing in infrastructure is essential for Africa’s social and

economic development. This partnership with IAF will help promote and mobilize much needed equity capital for projects that will have direct positive impacts on populations across Africa, including those that focus on climate mitigation."

Africa currently faces significant infrastructure challenges.

According to Africa’s Pulse, a bi-annual World Bank publication, the continent lags behind in access to most types of infrastructure, including power, digital, roads, and water, impacting economic activity.

IFC’s investment in IAF is expected to help mobilise more private financing for the fund.

counterparts in other regions of the world in terms of critical thinking and problem-solving abilities.

He stated, "The experience of the academics at MIT is expected to culminate in the development of new courses and the modification of existing ones in a bid to revolutionise science and engineering teaching in African tertiary institutions.

"In Nigeria, for example, we are glad to see the impact the MIT-ETT scheme is already making in tertiary education.

"Since 2013, over 90 university lecturers have benefited from the programme in the country. We are excited for the promise the near future holds for science and engineering education in Nigeria, especially because as we expect more lecturers to benefit from this knowledge-exchange programme."

Bouyer said TotalEnergies’ contributions to education development in Nigeria and Africa went beyond the MIT-ETT scheme, stating that the company's footprints were visible across all sectors.

He said TotalEnergies was proud to be linked to all the educational interventions it was involved in because they all align with the Goal 4 of the United Nations Sustainable Development Goals (SDGs), which calls for 'Inclusive and Equitable Quality Education and Promotion of Lifelong Learning Opportunities for All.' He said these investments were important to the company as they were in sync with their internal

sustainability Key Performance Indicators (KPIs), one of which, he noted, was creating value for society.

Bouyer, maintained that the event of the day was coming at a historic time in TotalEnergies’ operations in Nigeria.

He maintained that, "Having contributed immensely to the development of this great country over the last 60 years and a worldwide pioneer in producing energies for 100 years, we are proud of our remarkable journey and the huge potential that this new chapter presents."

The TotalEnergies boss further said, "As a responsible organisation, TotalEnergies has continued to ensure that the impacts of all its operations are managed in a way that helps preserve the environment, biodiversity, and freshwater resources in a bid to promote an inclusive economy.

"Also, our commitment to achieving net-zero emissions by 2050 along with society and transitioning to low carbon energy solutions for a cleaner and safer environment remains as assured as ever.

"As I welcome you to this event once again, I am happy to reassure you all that, as a responsible energy company that understands and appreciates the value of education and its role in the development and growth of any human society, TotalEnergies will continue to support initiatives such as the MIT-ETT programme for the benefit of humanity."

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NEWS

Empowering the Teachers Symposium and Awards...

R-L: Managing Director, TotalEnergies EP Nigeria Limited; Matthieu Bouyer; Deputy Manager, External Relations, NNPC Limited Upstream Investment Management Service, Mrs. Bunmi Lawson; Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCO), Mrs. Elohor Aiboni and Deputy Managing Director, Deepwater Asset, TotalEnergies EP Nigeria Limited, Mr. Victor Bandele at TotalEnergies/NNPC Limited MIT Empowering the Teachers Symposium and Awards at the Eko Hotel and Suites, Victoria Island, Lagos ... yesterday

President to Issue Executive Order to Protect Medical Manufacturing, Stem Further Exits FG agrees on restriction of needles, syringes importation Secures deal with local firms on accessibility, affordability, quality of healthcare products Afrimedical, HMA, others laud historic intervention

James Emejo and Onyebuchi Ezigbo in Abuja

President Bola Tinubu will soon unveil an Executive Order seeking to protect medical equipment manufacturing companies operating in the country, THISDAY learnt yesterday.

The move is seen as a proactive measure by the current administration to stop manufacturing firms from further exiting the country due to an alleged hostile operating environment.

The executive order, which is being prepared by the Ministry of Industry, Trade and Investment, as well as the Ministry of Health and Social Welfare, will incorporate practicable solutions, quick wins, and medium and long-term solutions to completely and permanently

resolve the challenges confronting manufacturing in the country.

The measures may also require a reduction or outright ban on the importation of syringes and needles into the country.

Speaking at the end of a meeting with medical syringe and needles manufacturers in Abuja, Minister of State for Health and Social Welfare, Tunji Alausa, alongside the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, said there was an honest conversation with the stakeholders. Alausa said an agreement was reached based on the directive of the president to reduce the cost of pharmaceutical products and medical supplies in the country.

The minister said, “We just had a very good meeting with the needle

and syringes manufacturers in Nigeria – the five companies that are still operating today.

“We explored and discussed many practicable solutions where we can begin to have some quick wins; some immediate solutions that we will be incorporating in the executive order, which the president has asked us to work on, as well as medium and long-term solutions on how we can get this problem completely and permanently resolved.

“Everyone was happy at the end of the meeting and we believe we have addressed all the issues that will put this industry on the path of sustainability, where they can begin to create durable and well-paying jobs for our citizens – and where we would have needles and syringes that

are of high quality, that would not be harming our citizens as they go to our hospitals or healthcare facilities to seeks care.”

Uzoka-Anite said the president remained determined to remove all bottlenecks impeding the industrialisation of the economy.

She said, “The meeting today is one of those in which after deliberations, we have been able to remove the bottlenecks affecting the needles and syringe industry.”

She assured the health devices and instrument manufacturers that the outcome of their deliberation would be expedited through policy responses.

The minister said the challenges confronting the manufacturing space were not knotty. She said that what was required was little policy changes,

Tinubu: Nigeria Will Step Up Interventions in Oil and Gas Sector for Enhancement of Investment Values Deji Elumoye in Abuja

President Bola Tinubu has given an assurance that his government will continue to provide the needed interventions in the oil and gas industry in line with the provisions of the Petroleum Industry Act (PIA).

Receiving a delegation from Chevron Corporation, led by President of Chevron International Exploration and Production, Mr Clay Neff, on Tuesday, at State House, Abuja, the president said Nigeria would strengthen its long-standing partnership with the multinational company in line with the evolving dynamics in the oil and gas industry.

Tinubu welcomed Chevron’s commitment to build on its investments in shallow and deep water operations in Nigeria, stating the company's ongoing $1.4 billion drilling project with the Nigerian National Petroleum Company Limited (NNPCL) is commendable.

He also commended Chevron for dedication to reducing its carbon footprint in the country.

Tinubu told the Chevron delegation, “You must see the PIA as a legacy law. We assure you of quick interventions and turnaround on any issue you may have in your operations in our country.

“Nigeria is proud of the 60-year partnership with Chevron, and we believe this partnership will be strengthened to add mutuallybeneficial value for the benefit of your shareholders as well as the

living standards and economic opportunities of our population.”

Speaking earlier, Neff pledged that Chevron would continue to operate in full adherence to the highest standards as it endeavoured to meet its investment commitments in Nigeria.

He highlighted the company’s contributions to domestic gas supply, stating the delivery of 25 per cent gas through a joint venture with NNPC Limited.

Neff explained that Chevron was scaling up its investment in the country with its recent effort in a new phase of development to include, "The conversion, under the Petroleum Industry Act, of all the NNPCL/Chevron Nigeria Limited Joint Venture (JV) Oil Mining Leases (OMLs) and Agbami OML 127 to Petroleum Mining Leases and Petroleum Prospecting Licences (PPLs); entry into OPL 215 block to boost deep-water development opportunities; signing of 20-year renewal of three deepwater leases; commencement of seismic data acquisition in several deepwater leases; commencement of life extension work on the Agbami project; and, in partnership with NNPCL, securing of $1.4 billion financing to fund the NNPCL/CNL JV infill drilling programme between 2022 and 2026, which includes the drilling of 37 wells in the shallow offshore and onshore Escravos area and associated facilities."

Neff informed Tinubu that

Chevron’s average annual tax and royalty remittances over the past three years had reached $3.4 billion.

He told the president, “The bold steps you have taken since you assumed office are quite impressive. We are encouraged by our partnership of over 60 years, and we look forward, God willing, to continue that partnership for many

decades to come.

“We are also looking at other opportunities as well, while operating with the best environmental practices. We will continue to grow our traditional oil and gas business because we know the countries where we operate are in need of those products, and the world needs those products.”

hence, the need to dialogue with the operators to enable the government to deploy the right policy intervention.

Uzoka-Anite also said, “The mandate we have been given by the president is to fix every problem in Nigeria; every problem affecting manufacturers in every segment of the country.

“Last Wednesday, at the Federal Executive Council (FEC) meeting, we took the healthcare sector specifically to understand what their challenges are. And the mandate the president gave us was that we should go and fix it as quickly as possible.

“The president intends to ensure that, one, the prices of manufactured medicines drop, and people have greater access to these medicines, and that they are more affordable and of higher quality.

“I can assure you that everything that we discussed here will be taken and expedited and this is the only assurance I can give to you.”

The meeting was attended by major health equipment manufacturers, including Afrimedical Manufacturing and Supplies Limited and HMA Medical Limited, among others.

Chairman, Medical Syringe and Needles Manufacturers Association of Nigeria, Dr. Lanre Shittu, described the meeting as a landmark engagement that would positively impact the health sector.

Shittu said, “This is a historical day. We made history here today

Ministry to Implement Presidential Directive on IPPIS in Tertiary Institutions Kuni Tyessi in Abuja

The ministry of education has pledged to facilitate the full implementation of the presidential directive on the Integrated Payroll and Personnel Information System (IPPIS) as it affects tertiary institutions in the country.

President Bola Tinubu had in December given a nod for public universities captured in the IPPIS to exit the payment platform.

Minister of Education, Prof.

Mamman Tahir made the commitment in his office yesterday in Abuja during a meeting with the leadership of the committee of Provosts of Colleges of Education in Nigeria.

In a statement signed by the Director of Media and Public

Relations, Mr. Ben Goong, Tahir also promised a consistent and positive interface with the committee to ensure industrial peace and harmony in the Nation’s Colleges of Education.

The statement added that Minister of State, Education, Dr. Yusuf Sununu admonished the positive attitude of the leadership of the Colleges of Education.

He added that the ministry will reciprocate the gesture in order to ensure a harmonious working relationship between the ministry and all Colleges of Education nationwide. “ Sununu called on the leadership of the Colleges of Education and relevant stakeholders to close ranks with the ministry to ensure improved enrolment of students into

the colleges in order to guarantee steady supply of qualified teachers at the basic level of our educational system.

"The minister added that the ministry will continue to work hard to create incentives for teachers as well as mobilise enrolment into the Colleges of Education," the statement added.

Speaking earlier, Chairman of the committee of all provosts of Colleges of Education nationwide, Prof. Faruk Haruna and the Chairman of the Committee of Provosts of Federal Colleges of Education Dr. Ali Adamu were unanimous in appealing to the ministers to facilitate the implementation of the presidential directive to take Colleges of Education out of the IPPIS.

because we’ve been trying to address this issue that has been affecting the syringe and needle sector in the last six to seven years.

“You recall that a few weeks ago, one of the companies shut down.

But following the intervention of Mr. President and the help of the Honourable Minister of Industry, Trade and Investment, and Minister of State for Health, among others, we’ve been able to sit down and have an honest and heart-to-heart discussion and they provided practical solutions that would resolve all our issues and also improve on the things that we are doing and move this country towards self-sustenance.”

Shittu added, “I see that before the next three to five years, we would be net exporters of a lot of medical products. And we thank and appreciate what Mr. President has done for us.

“The bottom-line is that this issue is a health and national security issue.

Nigeria needs to become self-reliant in this sector. I have been working on this policy for seven years but the way Mr. President and both ministers handled the issue today is worthy of commendation, honestly.

“They proffered solutions and are committed to helping us achieve our goals. I think the world needs to know that.”

Chairman, Afrimedical, Mr. Mofid Karameh, described the day as memorable, adding that the proposed executive order will revolutionise health sector investment with the attendant impact on the economy.

Karameh told THISDAY, “First, we like to thank Mr. President for the executive order to protect, and also both ministers. This is the beginning of moving the industry forward. The effort will have a ripple effect on the economy.”

He added, “After a long time waiting and many factories have closed down, today, we got an executive order from Mr. President to protect this industry and reduce the prices of medical products for all Nigerians.

“Today is a memorable day for all of us, for them to take this decision to reduce or ban the importation of needles and syringes completely.

“This is a big achievement for Nigeria and Africa and to promote the industry in Nigeria here. Nigeria is the hope of supply for other West African regions and with this we hope the boom will return and the industry will resume supplying again to other countries.”

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NEWS

Tinubu Meets South-south Monarchs' Forum...

From left: Ovie of Uvwie Kingdom, Dr. Emmanuel Ekemejewan; the Otaru of Auchi Kingdom, Alhaji Aliru Momoh; Ikelebe lll; King of Okpe Kingdom, Major Gen. Felix Mujakperuo; and President Bola PHOTO: GODWIN OMOIGUI. Ahmed Tinubu during the president's audience with South-south Monarchs Forum at the Presidential Villa Abuja ....yesterday

Ekpo: NesGas 50,000MT LPG Depot to Mitigate Nigeria's Energy Deficit, Create over 100,000 Jobs Peter Uzoho The Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, yesterday, said the NesGas 50,000 Metric Tonnes (MT) Liquefied Petroleum Gas (LPG) depot now under construction in Onne, Rivers State, was loaded with the prospects of helping to meet Nigeria’s growing energy demand.

The minister added that the project when completed and put to use, would help to mitigate the environmental impact associated with traditional dirty fuels, create over 100,000 jobs for the citizens and boost the overall growth of the economy.

Ekpo stated this while performing the groundbreaking ceremony for the project sited at the Oil and Gas Free Trade Zone, Onne, Rivers State.

The gas minister described NesGas's investment in the project as an incredible milestone in unlocking the country's abundant gas potential to support cleaner, more sustainable energy sources and diversify the

economy.

He said: "The private sector's dedication to investing in infrastructure that will facilitate the storage, delivery, and consumption of clean energy is demonstrated by NesGas's development of this 50,000 metric tons LPG and propane depot.

"In addition to the immediate environmental advantages, the construction of this depot promises to boost the local economy and provide over 100,000 jobs across the country.

“Employment opportunities will be created along the entire value chain, from construction to operation, promoting skill development and economic inclusion."

Ekpo assured investors in the gas sector that the federal government was, "aggressively working to establish laws and regulations that will guarantee transparency, draw in more funding, and provide an even playing field for all players in the market."

According to him, the President Bola Tinubu-led administration

was committed to fostering an atmosphere that will support the expansion of the gas industry.

"As the Minister of State for Petroleum Resources – Gas, I am here to support the growth of the gas industry in Nigeria, but I am also an official supporter of this

cause. Nigeria is endowed with abundant natural gas resources, and it is our duty to harness this potential to drive the nation's socio-economic development," he added.

Speaking on the project, Managing Director of NesGas, Mr. Tunde

Frontline aspirant of the Peoples Democratic Party (PDP) in the 2024 Governorship Election in Edo State and former Chairman of Sterling Bank Plc, Dr. Asue Ighodalo, on Tuesday, received a rousing welcome from leaders, members and other stakeholders of the party as he arrived Ubiaja, in Esan South East Local Government Area of the state, in continuation of his ongoing statewide tour to seek support ahead of the party’s primary election scheduled for next month.

Ighodalo also visited Uromi and Igueben, headquarters of Esan North

East Igueben Local Government Area, respectively, where he was received by a crowd of supporters, amid cheers and jubilation.

Addressing the large gathering of party supporters and other stakeholders which filled the venues of the different meetings, Dr. Ighodalo appealed for support from the people to secure the PDP ticket for the upcoming gubernatorial election in the state.

He noted that Edo State is blessed with abundant natural resources, noting that if the resources are properly harnessed it would help tackle poverty and other issues affecting the people.

a brighter and more sustainable energy future for Africa," he said.

The event also witnessed the signing of partnership and collaboration agreement deals between NesGas and Gas360, Modern West Advisory and Hebron Gas Infrastructure Limited.

Akume Seeks Support for Tinubu’s Administration Yinka Kolawole in Osogbo The Secretary to the Government of Federation of Nigeria (SGF), Senator George Akume, has advised Nigerians to support the administration of President Bola Tinubu, saying the aftermath of fuel subsidy would be beneficial to all.

Akume, stated this at an event organised by the El-Mavericky Centre for Educational Research and Development, which was tagged: ‘Leading With Compassion and Vision: Charting A New Course

in The Post-Subsidy Era.’ The Secretary to the Government of the Federation who was represented by Prof. Myinaga Ikpah, also commended the organisers, saying the theme of discussion was timely.

He noted that the present administration would work for the development of the entire country in all ramifications.

Also the Executive Director of El-Mavericky Center for Educational Research and Development, Sulayman Nafiu, equally posited that

Edo 2024: Ighodalo Receives Rousing Welcome in Ubiaja, Uromi, Igueben Adibe Emenyonu in Benin City

Banjo, said the mission was to eliminate energy poverty in Africa through strategic investment in gas development initiatives and assets.

"As we embark on the groundbreaking of our latest project, the 50,000 metric tonnes LPG Onne depot, we are on a journey towards

Noting that he was the most experienced, competent, credible, and best qualified for the governorship job, the lawyer cum financial expert stated that a prosperous and progressive Edo State is achievable if the right person is at the helm of affairs, hence, the need for the people to nominate him as the candidate of the PDP. Ighodalo reassured that if elected, his government will ensure the delivery of the dividends of democracy to all people of the state, leveraging his wealth of experience and capacity.

The frontline aspirant further reassured the people of massive development across the state pledg-

ing not to let down the Senatorial District and, by extension, Edo State if entrusted with the mandate to lead the state's affairs.

In his reaction, the Chairman of PDP in Ubiaja, Hon. Lawrence and the former Commissioner for Agriculture and PDP Leader in Uromi, Prince Joe Okojie, assured the aspirant of their full support, ensuring that he gets the party’s ticket and emerges victorious in the forthcoming gubernatorial polls.

According to Okojie, the mammoth crowd that greeted Asue Ighodalo's visit is a true reflection of his acceptance by the people of Edo Central Senatorial District.

the removal of oil subsidy was for federal government to save the country from fiscal catastrophe.

Nafiu, in a communique issued and made available to THISDAY yesterday, in Osogbo, at the end of leadership summit held in Abuja, stressed that the convention would further assist government in policy formulation that would spark economic growth in the country.

He equally noted that data from the Nigeria Extractive Indus-tries Transparency Initiative (NEITI), fuel subsidy payments have gulped N13.7 trillion in Nigeria’s national bud-gets between 2005 and 2021.

He opined that between January and July 2022, data showed that the Nigerian government spent N2.04 trillion on subsidy payments.

The Executive Director remarked that the gathering of key stakeholders, professionals, leaders of thought and young Nigerians who have come together to engage in a crucial national discourse has significant impact on our nation’s economy and development as well as on the welfare and wellbeing of the Nigerian masses.

The theme of the leadership summit was, “Leading with Compassion and Vision: Charting a New Course in the Post-Subsidy Era’’ is apt and timely considering the present situation of things in our country.

Tinubu had during his inaugural address to Nigerians on May 29, 2023, announced the removal of fuel subsidy.

Nafiu contended that the decision to halt fuel subsidy payment was a hard one to take for Tinubu, but that it was indeed the right thing to do, considering its negative implications on the nation’s economy. financial burden on the country for more than four decades.

According to him, "as noted by President Tinubu, during his 2024 New Year address to Nigerians, the payment of fuel subsidy was halted to save Nigeria from fiscal catastrophe. For more than four decades, fuel subsidy became a financial burden on the country.

The Executive Director remarked further that, "Although when the fuel subsidy was first introduced in the 1970s, it was conceived to provide relief to Nigerians as a result of the sudden increase in oil prices at the international market, it however later turned out to be a regressive policy that only benefited a few wealthy individuals at the expense of the growth and development of the nation.”

He said a civic organisation, Dataphyte, in a report published on May 28, 2023, estimated that if the Tinubu administration decided to retain fuel subsidy at 100 percent, subsidy payment would have cost the country the sum of N3.5 trillion annually and N14.01 trillion in four years.

He commended Tinubu for taking the hard and yet necessary decision to end fuel subsidy payment, something his predecessors did not have courage and political will to do.

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CIT, PPT, VAT, EMTL Pushed up December Federation Account Revenue to N1.674tn FAAC disburses N1.127tn to FG, States, LGs

Ndubuisi Francis in Abuja

A significant increase in Companies Income Tax (CIT), Excise Duty, Petroleum Profit Tax (PPT), Value Added Tax (VAT) and Electronic Money Transfer Levy (EMTL pushed total receipts into the Federation Account up in December 2023 to N1,674.230 trillion from N1,620.335 trillion in the preceding month of November, the Federation Account Allocation Committee (FAAC), has disclosed.

This translates to an increase of N538.95 billion.

However, while CIT, Excise Duty, PPT), VAT and EMTL posted significant rise, Oil and Gas Royalties decreased substantially, just as import duty and Common External Tariffs (CET) Levies dropped marginally.

FAAC made the disclosure in Abuja Tuesday as it disbursed a total sum of N1,127. 408 trillion to the federal government, states and local government councils as

December 2023 revenue from the gross revenue of N1,674.230 trillion.

The shared amount is N546.822 billion higher the gross revenue of N1,674.230 trillion available in the reference month.

The disbursed amount was also higher than a total sum of N1,088.783 trillion shared by the three tiers of government as federation allocation for the preceding month of November, 2023 from a gross total of N1, 620.335 trillion.

Citing the communique issued at the end of the FAAC meeting which held in Abuja, the Director (Press and Public Relations), Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa said the N1,127.408 trillion total distributable revenue comprised distributable statutory revenue of N363.188 billion, distributable Value Added Tax (VAT) revenue of N458.622 billion, Electronic Money Transfer Levy (EMTL) revenue of N17.855 billion and Exchange Difference

Minister of Finance and Coordinating Minister for the Economy, Wale Edun revenue of N287.743 billion.

According to the communique, the meeting was chaired by the Accountant General of the Federation, Dr. Oluwatoyin Madein.

Total deductions for cost of collection was N62.254 billion, while total

At Bilateral Talks, Blinken Says Tinubu's Reforms Are Bold

“Second is the ongoing effort to combat corruption because companies that come in and invest want to make sure that they're going to be investing with a fair, level playing field and corruption, of course, is a big impediment.”

Blinken, who arrived Nigeria as part of his four-nation African tour, stressed his country’s com-

mitment to strengthening genuine partnership with countries in Africa to solve shared challenges.

He stated that the bilateral meeting with Tinubu revolved around a range of common priorities, including America’s focus on accelerating economic growth and opportunity in Nigeria.

Blinken said, “This is a place

of extraordinary innovation, extraordinary dynamism. I've had the opportunity to visit many times over the years. I've seen that each and every time and I expect to see more of that latest tomorrow.

“American entrepreneurs, American companies are eager to partner and invest in Nigeria's economy, particularly, in the tech

transfers, interventions and refunds accounted for N484.568 billion.

Gross statutory revenue of N875.382 billion was received for the month of December 2023, an amount lower than the N882.560 billion received in the month of sector.

“We have tech giants that are teamed up with Nigerian partners to help the president's new one million digital jobs Initiative.

“Other companies are part of work laying undersea cables, using satellite technology to expand access to the internet. Our tech incubators are fostering Nigeria's next start-ups.

Wike: We’ll Provide Security Agencies Whatever Will Make FCT Safe, Secure cies, the Chairman of Kwali Area Council, Danladi Chiya, and other stakeholders.

The minister, who assured Kwali residents that the FCTA would procure vehicles for security agencies as well as give every area council motorcycles to use in support of local vigilance groups to help provide security agencies with the necessary information, however, accused the chairman of running away from problems.

To that extent, Wike has disclosed that Uber drivers would be certified and profiled by security agencies and government to know the drivers' identity before they would be allowed to operate in the nation's capital.

"The president has commanded me to let you know that he feels your pains and that is why he has said that I must see all the area councils and talk to them about our preparedness to face insecurity to a logical conclusion.

"You see us going with all the heads of security agencies. That is to tell you how serious we are.

Indeed, it would not have been like this yesterday, but I can assure you that henceforth, you will be hearing a different story and that story will be a positive one.

"We are fully prepared to support our security agencies. Whatever will make them to succeed, whatever will make our people to sleep with their two eyes closed, we are going to give to them. Ours is to provide the necessary logistics "For me, whatever will bring development, government has no hesitation. Whatever will improve security, we have no hesitation," Wike declared.

The minister informed the local youth that the administration had directed the area council chairmen to ensure that the vigilantes were well catered for, adding that they should provide information to the security agencies so that they could do diligent job.

Wike, who accused Chiya of blackmail and dereliction in response to some of the complaints echoed by the Kwali Area Council Chairman earlier in his remarks, called on him to be prepared to solve problems as a leader, saying leadership is not by mouth.

The minister said: "You are trying to blackmail me but unfortunately, nobody can blackmail me. If you like fall here and cry. When you

told them to vote you as Council Chairman, did you think leadership is by mouth.

“As a leader you must carry problems. You knew there were problems and you said you want to solve it. You should also know that pressure will not end, it will continue to come, don't run away from it. You weren't elected to be smiling everyday, you were elected to solve the problems of the people."

Chiya had tabled several encumbrances facing the council and asked for the establishment of a police division in Gwako as well as a military base in another part of the council.

He said the roads were not passable and the criminals, who were hibernating around the hills surrounding Kwali, were taking advantage to kidnap people.

"We will write to your office because there is another road that has been abandoned by the contractors. Wherever they discover that the roads are not good, they use such spots as hideouts.

"Our people are prepared to chase them, but for the bad roads.

Then our stadium in Kwali, the bad boys have turned it into a hideout. There is little we could do on the stadium because it is an FCDA project.

"We also need motorcycles for the vigilance teams. I have given them some before but we need more and therefore I seek your intervention in this regard," Chiya said.

But Wike in response, said the council chairman had "requested for everything."

He asked him to, in conjunction with the traditional rulers, choose two road projects which the Kwali Area Council would finance while the FCTA would take over the FCDA road that was awarded but abandoned.

Meanwhile, during a chat with the media on the measures to improve security in the city, Wike has said t Uber drivers would be certified and profiled by security agencies and government before they would be allowed to operate in the nation's capital.

"This is is a city, if you don’t have rules, there will be problems.

They would have to be registered.

It tells you who the drivers are.

We need to certify them. We need to profile them using the security

agencies," Wike said, adding the FCTA was also planning to ban unpainted taxis and buses from plying FCT roads.

He said the measures were responses to curb the menace of ‘one chance’ which criminals had perfected to rob unsuspecting passengers in the nation's capital.

“We are not going to allow vehicles that are not painted with FCT colour and registered by the FCTA to ply commercial in the territory. That way, you know the driver is certified by the FCT and the buses and the taxes were also approved by the FCT. “When this is done, you as the passenger will not take the risk of going to enter any vehicle that you don’t even know,” Wike said.

He also added that the admin-

istration in the 2024 fiscal year intended to build at least three terminals, where residents could go and board a bus to a specific destination.

“That way, you know the drivers and the vehicle that you are entering. But currently, everybody is just on the road. You are going to Nyanya, a car is on the road, you enter; you are going to Wuye, a car is on the road you enter.

“What we are trying to do in the 2024 fiscal year is to at least build three terminals for a start, so that we will know the buses and taxes that will carry people from such terminals.

“When this is done, nobody will take the risk of going on the road to wait for a taxi. That way, you will be able to reduce crime,” Wike said.

November 2023 by N 7.178 billion.

The gross revenue available from the VAT in December 2023 was N492.506 billion. This was higher than the N360.455 billion available in the month of November 2023 by N132.051 billion.

The communique stated that from the N1,127.408 trillion total distributable revenue, the federal government received a total of N383.872 billion, the states received N396.693 billion while the local Government councils received N288.928 billion.

The sum of N57.915 billion was shared to the benefiting states as 13 per cent derivation revenue.

The federal government also received N173.729 billion from the N363.188 billion distributable statutory revenue, states got N88.118 billion and the local government councils received N67.935 billion while the sum of N33.406 billion was shared to the benefiting states as 13 per cent derivation revenue.

The federal government received

N68.793 billion, states got N229.311 billion while the local government councils received N160.518 billion from the N458.622 billion distributable VAT revenue.

Similarly, the N17.855 billion Electronic Money Transfer Levy (EMTL) was shared with the federal government receiving N2 .678 billion, the state governments received N8.928 billion and the local government councils got N6.249 billion.

The federal government equally received N138.672 billion from the N 287.743 billion Exchange Difference revenue.

The state governments received N70.336 billion, and the local government councils received N54.226 billion.

The sum of N24.509 billion was shared to the benefiting states as 13 per cent derivation revenue.

According to the communique, the balance in the Excess Crude Account (ECA) was $473,754.57 as at January 23, 2024.

“Our venture capital companies are working to finance, so we want to work in partnership to help drive Nigeria's technological revolution, which is creating jobs.

It’s growing businesses, and it’s growing innovations in both of our countries.

“Because one of the things we've learned from these partnerships is that it benefits us as much as any place or any country that we're investing. We're learning a lot from where we're getting a lot.”

Blinken explained further, “One of the initiatives that President Biden laid out is the digital transformation with Africa Initiative. We see it as particularly energised and triggered focus for us.

“Now, Nigeria offers real, clear, compelling opportunities for investors. At the same time, I think it's no secret that there remains some long term challenges that need to be overcome, to really unlock the full potential.

“Tackling corruption, and making it easier for foreign companies to repatriate capital. These will all pull in a transformative direction and pull in transformative direct investment.”

Acknowledging existing the cooperation between the US and

Nigeria, Blinken explained, “Nigeria, as Africa's largest country, largest economy, largest democracy, is essential to that effort. And we are doing a lot of work together already.

“To drive a positive direction, we're driving climate action.

“We're working in collaboration to support the development and use of artificial intelligence for goods with 30 other Atlantic countries.

We're driving blue economy development, environmental protection, science and technology exchange, through a new partnership for learning cooperation.”

Nigeria Tuggar, in his remarks, said the bilateral talks dealt with issues, such as, food security, agriculture, pharmaceuticals, and security in the sub-region. He said the discussion was fruitful.

Blinken was received at the forecourt of Tinubu’s office about 6.55pm yesterday.

Apart from the foreign affairs minister, other government officials on hand to receive Blinken were Chief of Staff to the President, Femi Gbajabiamila; Minister of Information and National Orientation, Mohammed Idris; and Minister of Solid Minerals Development, Dele Alake.

Ndume to Tinubu: There Will Be Consequences for Moving CBN Depts, FAAN to Lagos

had recently said it was moving some offices of the apex bank to Lagos due to congestion of some departments. Also, the government announced that it was relocating the headquarters of FAAN to ensure seamless operations and save costs.

But Ndume argued that if the offices were being moved due to congestion, the best place would be Nasarawa, Kaduna or Kogi and other states surrounding Abuja, for the sake of proximity, instead of faraway Lagos.

“Some of them think that they know better than everybody.

But they don't know anything.

When you don't know Nigeria, you only know Lagos, then you start doing things as if Nigeria is Lagos. Lagos is in Nigeria. That's a wrong decision.

“We will not accept it. Besides, you know, they are not doing any favour to Mr. President, because this will have political consequence.

Yes. I'm telling you this.

“And these guys who are just sitting down there, trying to hang on to Mr. President will not be there to amend the political mistakes or even to correct it because they don't know anybody. They only know their offices. And they only know that they have brains,” he said.

He emphasised that it was not the votes from Lagos that brought Tinubu to office, advising him to jettison any plans to implement the relocation decision.

Ndume said there’s a consensus

in the North against the move by the president because there’s only one federal capital, which is Abuja.

“All these Lagos boys that are thinking that Lagos is Nigeria are just misinforming or advising the president wrongly. The regulators or the financial institutions are supposed to be in Abuja. Now, you want them to move because you say Lagos is the commercial capital. This is one of the mistakes.

“And I'm sure the president will reverse it, because it doesn't work. You can’t have two capitals or is the CBN governor going to be operating from Lagos and headquarters of the CBN is in Lagos?

“Do you say that because majority of our oil is extracted from South-south, you take the Nigerian National Petroleum Company Limited (NNPC) to the South-south or because Nigeria’s agricultural produce are more in the north, you take the Ministry of Agriculture to anywhere in the north. “ It doesn't work that way.

And that is one of the problems that is cropping up, but I'm very sure, I'm very confident that Mr. president will look at this because he's a nationalist, not just a Lagos man,” the federal lawmaker said.

He insisted that Lagos does not represent the whole of Nigeria, explaining that there will not only be increase in cost of operations but risk to the lives of workers who will constantly be flying by

air or on the road, if it eventually happens.

“This is a decision that is not well thought out. And I think the president will reverse it. I'm confident that. And if that does not happen, of course, this is democracy and we know what to do,” he boasted.

He urged the president to rescind the decision, stressing that he (Ndume) is neither Hausa

nor Fulani, but a northerner and a Nigerian.

“CBN has offices that they can rent or build on their own to increase efficiency, but moving some departments to Lagos is not the best of ideas at all or moving any agency at all,” he added.

While expressing optimism that the decision will be reversed, Ndume advised the president to ignore the so-called cartel.

FG Pledges to Resolve Festering Crisis in NURTW Onyebuchi Ezigbo in Abuja Minister of State for Labour and Employment, Hon. Nkeiruka Onyejeocha, has assured that the ministry will do everything possible to return peace to the conflict-ridden National Union of Road Transport Workers (NURTW).

She also said that the federal government is determined to ensure overall peace and progress in the country.

Onyejeocha made the assertion when she received leaders of the NURTW led by its Acting President Issa Ore at the Ministry in Abuja on Tuesday.

She told the transport workers that the present administration is desirous of maintaining peace and harmony in every sector in

the country.

The minister expressed the determination of the government to resolve the conflict within the ranks of the NURTW. Her words: "I assure you that if there are anything that is left undone as we speak that with your kind cooperation that it will be done there is nothing that cannot be resolved. The truth of the matter is that we are all one in this country, the Christian, Muslim all worship one God. "Last year it was all gloomy faces but today I can see cheerful faces and everybody seems to be happy. That's a good thing to happen in the new year and I wish all a happy and prosperous 2024 and that there will be no crisis in NURTW anymore."

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SWEARING-in of new judges...

L-R: The two new judges in the Customary Court of Appeal, Justice Adeniyi Lawal and Bolanle Awoyemi; Ogun State Governor, Prince Dapo Abiodun; the Chief Judge of Ogun State, Hon. Justice Mosunmola Dipeolu and the newly appointed Judge of the State High Court, Justice Martins Akinyemi, during the swearing-in of the new judges at the June 12 Cultural Center, Abeokuta... yesterday

Tinubu to South-south Monarchs: We'll Address Devt, Environmental Degradation of Your Region Says he's working hard to revive nation's battered economy Royal fathers want succour for their long neglected people

Deji Elumoye in Abuja

President Bola Tinubu has assured traditional rulers from the Southsouth geopolitical zone that his government is committed to addressing their concerns over development and environmental degradation.

Tinubu gave the assurance on Tuesday at State House, Abuja, during a meeting with the South-South Monarchs Forum, led by Chairman of the Delta State Council of Traditional Rulers, and Vice-chairman of South-South Monarchs Forum, His Royal Majesty, Major-General Felix Mujakperuo (rtd).

Tinubu told the royal fathers that his administration was diligently working, both domestically and internationally, to strengthen Nigeria's approach to climate change, environmental restoration, and infrastructure development, while ensuring security and stability in the Niger Delta.

Wigwe University Set to Admit National, International Students Blessing Ibunge in Port Harcourt

The management of the Wigwe University has expressed commitment to build a global collaboration that would open its doors to both national and international students who are eligible and comply with the regulations of the Joint Admissions and Matriculation Board (JAMB).

Following the federal government's approval of the Transnational Education Guidelines, the university also indicated that it would pursue any international collaborations that would benefit its students and staff and adapt fittingly to Nigeria’s needs and contexts.

The Wigwe University establishes itself as a player on the global educational stage, a university fearlessly pioneering and charting a course for positive change in the Nigerian University System in particular and global education at large.

Speaking at an Education Fair organised by the institution in Port Harcourt, with the theme "Rewire: Rooted in Africa, Impacting the World", the Chancellor of the University, Dr. Herbert Wigwe, applauded the Nigerian educational sector for training brilliant and strong minds, citing himself as a beneficiary.

He noted that Nigeria's universities have, over time, declined due to inadequate attention paid to key aspects of their development.

Wigwe emphasised the need for courage and fearlessness in addressing Nigeria's academic challenges as opposed to running away from them.

Addressing the prevalent brain drain in Nigeria, the Chancellor emphasised that Wigwe University's

had resolved to tackle challenges within the education system.

He added that leveraging state-ofthe-art technology, innovation, and leapfrogging, the university would propel itself to the forefront of global education, offering an alternative that rivals international standards.

The Chancellor said the education fair echoes the university's commitment to not only celebrate its African roots but also make a global impact.

"This is to the end that the prevalent 'Japa' movement might lose its allure as Wigwe University strives to become a beacon for those seeking world-class education on home soil.

"Breaking away from convention,

Wigwe University ensured that the fair was not merely a platform for university promotion but a space for meaningful interaction.”

The fair also featured engaging question-and-answer sessions, providing attendees with the opportunity to delve deeper into the university's vision, policies, and the broader landscape of higher education in Nigeria", he added.

The fair featured the first public rendition of the university anthem, "We the Fearless," by the multitalented Lighthill Choir, a welcome address from the Vice-Chancellor, Prof. Miles Davis, and a keynote address by Dr. Obari Gomba, winner of the Nigeria Prize for Literature 2023.

While lauding the monarchs for their understanding approach to his government's ongoing economic reforms, particularly, the removal of the fuel subsidy, the president promised that Nigerians would soon enjoy the benefits of these tough, yet necessary, decisions.

According to him, “We are working to revive the economy from the damage of several years.

We seek your support, prayers, and understanding, and I am glad that the vice chairman of the forum served in an organisation where we need intelligence to operate.

“You (the traditional institution) will be the source of the intelligence we need for the holistic development of our country, and anytime you need to tell us something, do not hesitate to reach out to this office.

I will take on all of your concerns, and I will address each of them one by one.

“We cannot underestimate your contributions to the peace and stability of this country. Continue to uphold us in your prayers and in talking to our youths to keep faith with the country because light is already visible at the end of the tunnel.”

Earlier in his remarks, Mujakperuo appealed to Tinubu to follow up on all development efforts in the

region to be sure that progress was tangible to the people.

The monarch stated, “Mr. President, you know the problems of our region, as an expert with experience in the energy industry. We see you working hard to solve our problems, and we are comforted that you have pledged to take on our concerns and bring a final solution to them."

Speaking with newsmen after the visit, Mujakperuo canvassed presidential intervention to provide succour for the people of the oil-rich region. He lamented the predicament of the region, despite being the golden goose that lays the golden eggs.

He said, “In the region, we produce, we give resources to the country and, yet, we are suffering in the midst of plenty.

"There are a lot of things that we said he should do for us, like the East West Road that has been abandoned for so many years and most of the roads in the South-south are not motorable anymore, you cannot have access to Abuja. From Port Harcourt to Ana is not passable, from Benin to Uromi, to Okene are not passable.

"We also felt like he should try and link up the Itakpe railway to Abuja, so that right from Warri we can safely drive to Abuja.

"We feel that if those ports are revived it will bring employment for our people and it will improve the economy of this country.

"We just have to catalogue our sufferings and what we want the president to do for us, so that we can feel that we are part of this country.

"The president said he will look at our request and he will do the needful."

Commenting on the visit by the traditional rulers, Minister of Niger Delta Development, Abubakar Momoh, said, “These are the owners of the region, the more you engage them they will talk to the youths and those who are involved. But when you keep them away it becomes a problem because they will not have that sense of belonging of continuing to talk to the people and, above all, is also to look at the infrastructure of the region.

"When we engage the youths in entrepreneurship training and the rest of them it can also step down the wave of theft.

"The door should be opened to the people like this because they are the custodian of the peace of Niger Delta.

“The meeting that has happened today, I can regard as a huge success."

Minister Explains Why FG Introduced New Conditions for Passport Acquisition, Renewal Chinedu Eze

The Minister of Interior, Olubunmi Tunji-Ojo, has explained the rationale behind the Federal Government's introduction of new prerequisites for obtaining or renewing international passports.

In an exclusive telephone chat with THISDAY yesterday, he emphasized that the new conditions were instituted to curb the acquisition of Nigerian passports by non-citizens, underscoring the document's significance as a security document exclusive to Nigerian citizens.

Addressing reports of foreigners exploiting inefficiencies in the previous system, Tunji-Ojo asserted that the new conditions would impede non-Nigerians from acquiring the passport.

While acknowledging challenges faced by passport applicants, the Minister assured that the coming weeks would witness an enhancement of the process.

According to the Minister, the new conditions, including the provision of a citizenship certificate, date of birth certificate and the National Identification Number (NIN), have become critical in verifying applicant's

true citizenship.

Tunji-Ojo emphasized that the reform aimed to simplify the passport acquisition process for Nigerians through facilitating speedy online application, production, and passport collection.

In debunking misconceptions, Tunji-Ojo noted that the new system's effectiveness was evident, with a mere 4% hiccup rate, a notable improvement for a recently introduced system. “We have to introduce this new system in order to stop those non-Nigerians carrying Nigerian passports. Contrary to reports, the new process is working very

effectively and hiccups recorded is only 4 per cent, which is significant improvement for a system that is newly introduced and I assure you that in the next one or two weeks we will have near perfect system.

“We have to improve our process of obtaining passports because passport is a security document.

This new system has improved accessibility, transparency and efficiency,” the Minister stated.

Looking ahead, the Minister outlined plans for contactless biometrics in passport renewal, affirming the government's commitment to building a better future for Nigerians

-home and in the diaspora.

Speaking on the observable change in cost for the 5-year passport, the Minister, however, noted that the new cost was agreed to taking a cue from the cost of the 10-year passport.

“We are building a future for Nigerians where things should be done in a better way. We changed the price of five-year passport because the 10-year passport is N70, 000; so, the one for five years should be half of that amount, which is N35.

000. We are committed to making things better in our country,” the Minister said.

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politics

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

As APC Prepares for Edo Guber Primary...

The national leadership of the All Progressives Congress recently met with stakeholders in Edo state as part of efforts to have a rancour-free governorship primary in February, 2024. At the last count, about 29 aspirants are jostling for the party’s gubernatorial ticket, Adedayo Akinwale Reports.

Ganduje

T

he National Working Committee (NWC) of the All Progressives Congress (APC) penultimate Monday held a meeting with party stakeholders from Edo state ahead of the governorship primary election scheduled for February 17, 2024.

The reason for the troubleshooting effort was aimed at having a rancour-free primary election considering the increasing number of aspirants who had indicated interest to contest. As at the last count, 29 aspirants have already indicated interest to contest the party’s primary.

The National Chairman of the party, Dr. Abdullahi Ganduje said the meeting was to discuss important issues about having a hitch-free gubernatorial election in September 2024. He said since the NWC led by him was sworn in as the new or reformed NWC, it had said it would not be business as usual because the party as a progressive party is supposed to be one with clear-cut objectives.

To this end, Ganduje said it was time to take Edo back from the Peoples Democratic Party (PDP). He said it was not acceptable that the ruling party only has one state in the South-South.

According to him: “We were only able to get Cross River State. After crossing so many rivers we succeeded in getting Cross River State. But Edo State, we must get it by the grace of God.” At the meeting, far-reaching resolutions were arrived at which the various tendencies in Edo state chapter of the party appeared to be at home with, as they were considered germane in order to prevent what happened in the party in 2020.

Checks revealed that prior to the 2020 governorship primary, the governor, Godwin Obaseki was screened out by the screening committee set up by the Adams Oshiomholeled NWC due to irreconcilable differences.

Based on this, Obaseki was forced to seek refuge in the PDP where he was given the governorship ticket and eventually won re-election.

However, briefing journalists on the outcome of the meeting, the Deputy National Publicity Secretary of the party, Hon Duro Meseko, said the party has kicked against zoning of the governorship position, while it also adopted the direct mode of primary for picking its candidate for the Edo election.

He said: “In view of the large number of aspirants, 29, as of last (Monday) night, the NWC urged stakeholders to unite and see to how we can achieve some reasonable number of aspirants. The stakeholders were urged to devise methods to agree on some form of consensus to trim the number of aspirants.

“The NWC urged aspirants to be disciplined and shun the temptation of rushing to the courts immediately after primaries.

There will be no zoning. Not at all.”

Oshiomhole Meseko noted that the ruling party would attach a letter of undertaking to its nomination forms which aspirants are expected to sign indicating that whatever the outcome of the primary election is, they would not seek redress in court.

Moreso, for the smooth running of the party, the APC was of the opinion that all members of the party in Edo state should ensure strict compliance with their financial obligations to the party.

To this end, the party resolved that electronic registration of party members would henceforth be suspended until after the primary in order not to derail the exercise in the State.

Meanwhile, the leader of the party in the state, Comrade Adams Oshiomhole said he and other stakeholders are determined to reclaim Edo. He said democracy based on popular participation might be more difficult but cannot be faulted, saying it allows for building consensus.

Oshiomhole maintained that they are determined to reclaim Edo State.

He admitted that they lost the state due to several factors caused by some APC elements.

He recalled that when Ganduje was the Governor of Kano state, he offered to lead the last campaign and even relocated to Benin for days to ensure that the party won the last governorship election, but it wasn’t meant to be.

Oshiomhole said, “Giving your commitment the other time when you did not have any obligation, but rather voluntarily accepting to lead and to help us win the election in

Edo, now I believe you have a duty much more compelling to see that this election is won.

“On our part, we have tried to initiate dialogue among our aspirants. It is no secret that at the time we had the dialogue, I think they (aspirants) were 27. I learned it has increased to 29 now. The process is ongoing, and the struggle continues.”

Be that as it may, the effort of the national leadership of the party to have a rancour-free primary election might have hit the rock as some party stakeholders in the state have accused Oshiomhole of having personal interest in who becomes the candidate of the party.

Against this background, a group, Concerned Edo APC Stakeholders, have called on Ganduje and President Bola Tinubu, and other party leaders to call Oshiomhole and his co-travelers to order ahead of the Edo state governorship primary.

Without mincing words, the stakeholders said Oshiomhole does not have the authority to constitute a screening committee for the primary election.

The stakeholders in a statement issued

by Dr. Atsikidi Leonard and nine others, said it was worth noting that Oshiomhole’s previous usurpation of nomination powers, as witnessed in the nomination of Godwin Obaseki and Philip Shuaibu as Governor and Deputy Governor respectively in 2016, resulted in the party’s opposition status in Edo State today.

The party stakeholders noted that it was evident that he intends to repeat this indelible error in 2024.

It said: “The Concerned Edo APC Stakeholders would like to clarify and correct the false alarm and wrong impressions being peddled by enemies of the All Progressive Congress (APC) in Edo State regarding the

Meseko noted that the ruling party would attach a letter of undertaking to its nomination forms which aspirants are expected to sign indicating that whatever the outcome of the primary election is, they would not seek redress in court. Moreso, for the smooth running of the party, the APC was of the opinion that all members of the party in Edo state should ensure strict compliance with their financial obligations to the party.

To this end, the party resolved that electronic registration of party members would henceforth be suspended until after the primary in order not to derail the exercise in the State.

rumored report of a Committee set up to interact with Edo 2024 APC governorship aspirants.”

The stakeholders said in line with the NWC’s guidelines, a consultative meeting was held with stakeholders of the party from Edo State on Monday, January 15, 2024.

It added that during the meeting, the stakeholders were urged to unite in trimming the number of aspirants due to the large number of individuals vying for the party’s ticket in Edo State.

It noted that Oshiomhole set up a six-man committee to interface with the aspirants and make recommendations on how the number could be reduced.

It said: “The committee was not a screening committee as that is the prerogative of the APC National Working Committee. Edo people were shocked when the news broke out that this Oshiomhole committee had initially recommended ten names among the aspirants and on meeting with Comrade Oshiomhole was told to further remove some names and make the total six.

“We would like to state for the record that Comrade Senator Adams Oshiomhole does not have the authority to constitute a screening committee as he is neither the National Chairman of the All Progressive Congress nor a member of the NWC. “Furthermore, only aspirants who have completed and submitted their forms can be screened by the committee established by the NWC for this purpose.”

The stakeholders added that the scheduled date for the screening of aspirants, as outlined in the approved timetable by the NWC, was between 8th and 9th February 2024.

The aggrieved stakeholders stressed that the Oshiomhole committee unlawfully assumed the functions of the NWC and were unfortunately coerced by Oshiomhole to submit a report in variance of their earlier recommendation which is in the public domain.

“We hereby call on the national chairman of the APC, Dr. Abdullahi Ganduje, President Bola Tinubu, and other well-meaning party leaders in Edo State and across Nigeria, to intervene and restrain Adams Oshiomhole and his co-travelers,” it added.

The stakeholders maintained that the APC in Edo state should not be plunged into unnecessary crisis ahead of the 2024 governorship election.

“It is common knowledge that Comrade Oshiomhole has a personal interest in who becomes the Edo State Governor. We, therefore, reject his undue influence and demand that he stays clear of the Edo 2024 APC governorship primaries,” it added.

With the look of things, if party stakeholders in the state do not tread with caution, the ruling APC might once again end up being the opposition party in the Heart beat of the nation.

WEDNESDAY JANUARY 24, 2024 • T H I S D AY

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Escape from TB Joshua

Debbie Peters

W

hen I came back to Africa after spending 10 years in the US, I found that my mother had become deeply religious.

Not the traditional Methodist church that we had both been raised in, but she followed these charismatic tele-evangelists. I had to ask because she had always been a fun, young mum (she had me when she was 18) and she said that life in Zimbabwe has been so hard during the hyperinflation era that you either found religion, became an alcoholic or you went crazy. She chose religion. The TV in her bedroom was always turned to this channel called Emmanuel TV and it was the first time I heard of TB Joshua. In my mind, he was a Nigerian TD Jakes wannabe but if it made her happy, so be it. In April 2009 I visited Nigeria for the first time with my workmates from Eskom South Africa. My colleague has asked me to organize a trip over Easter as she had been wanting to visit Lagos and I knew a lot of Nigerian people from my New York days. She was also a follower of Christ Embassy, another Nigerian church led by Pastor Chris Oyakhilome, which now has branches all over the world and holds a big annual convention in Lagos towards the end of the year. A lot of people are afraid of Nigerians’ reputation as scammers so even though they might want to visit Nigeria, they do not know what to expect. My first trip to Nigeria was such a pleasant experience that I came back to South Africa and raved about it.

In the early days, my mother would watch regular TV shows like ‘Keeping Up With The Kardashians’ in the living room then retire to bed with her Christian channels but eventually all she watched were those tele-evangelists. I was confused by all of it but if something makes your parents happy and it is not harming them, you leave it alone. At some point, mum then said to me, ‘Debbie, I want to go to Nigeria to visit TB Joshua’s church, Synagogue Church of All Nations (SCOAN).

You know Nigeria, can you go with me?’ What else could I say but yes? She wanted to stay at the church, but SCOAN said that we should have booked well in advance, so I booked the Protea Hotel in Ikeja and off we went to Lagos in November 2009. SCOAN was located in Mainland Lagos, and we took a taxi from the hotel for the long drive to the compound. The buildings inside the walls had a makeshift quality about them, as they were poorly constructed, and I was not surprised to hear about the building collapse a few years later.

Nothing much was happening on the first day, which was a Friday, so fortunately we headed back to the hotel where there was air-conditioning, and we could get a satisfying meal. The second day was an all-day service which was full of theatrics and ‘miracles’. I was surprised at how short ‘the Man of God,’ TB Joshua was. The place was packed with people from all over the world. The line getting in was insane.

Now I am used to a traditional one hour or two-hour church service and I went to Catholic school so I can

Late T.B. Joshua handle a lot of church, but a full-day event is a lot. It was not even that there was preaching from the Bible, but there was exorcising of demons and all sorts of showmanship. At some point, I got bored, and I managed to get outside the gate to look for a café or something. Unlike Victoria Island, Ikoyi and the parts Ikeja I am familiar with, SCOAN is in the slums of Lagos in such a poor neighborhood that there are no hospitality venues. There was nothing around there, so I bought a ‘Star’ beer to console myself and went back in. After another boring service on Sunday, mum and I went to visit my friends in Victoria Island, and we flew back to South Africa the following day. My mother is a determined woman and she wanted to full in-house TB Joshua experience so a few months later she booked another trip and this time, we were supposed to stay at SCOAN. I was skeptical but I figured I had better go along and keep an eye on her. I had enough friends in Lagos

who could rescue us if it came to that.

We were met at Murtala Muhammed International Airport by the protocol people from SCOAN and were bussed to the compound.

They took away our passports and said we would get them back when we were leaving. I had brought some frozen meat for a girlfriend of mine, so I asked them to put it in the freezer until someone came to collect it. They put us in dormitories with other women, and we had to bath in buckets, which is common in Nigerian where water supply is sketchy. Once again there was no activity the following day, so I asked for the exact address since my girlfriend was going to send her driver to collect the meat.

There were minders everywhere and they told me that nobody was allowed to come in or out of SCOAN! Now I know what being in prison feels like. The food was atrocious, and you could not even tell what type of meat you were eating. I just spent the day reading then we went to bed. The next day was another excruciating long service. By afternoon, I think I was texting my friends when a group of heavies surrounded me. TB Joshua stared at me and said, ‘You! You are not praying hard enough!’

How he noticed me sitting at the back, I will never know. I did my best to look pious after that but none of his showmanship made any sense to me.

Then we retired to the ladies dorm. At around am we were woken up by loud shouting. They said we should get dressed to go up to the mountain! We sat around waiting until all thought of sleep had gone from our minds and then suddenly, our overseers changed their minds and told us to go back to bed. I could not sleep after that. On the final day, for an additional fee, you could not get a one-on-one with the bishop. My mother did not skimp, and she went in for a private prayer session. I was dealing with a chipped tooth from a lousy turkey stew full of bones that they had served us for lunch. On the last day, I collected the meat from the freezer and all of us visitors were driven back to Lagos airport. Just before check-in, they handed us back our passports. What they did not know was that I had planned to spend an extra night in Lagos to see my friends. I felt like a virtual prisoner as the SCOAN disciples watched all our movements as we went to check in. I asked to go to the bathroom and quickly headed to where the elevator was located then went down to arrivals where there were a bunch of taxis waiting outside. I jumped into a taxi and escaped to my girlfriend’s place in Victoria Island. I looked like a traumatized refugee when I arrived. Apparently, I am not the first person who had an unpleasant experience going to SCOAN with a family member who

is a believer in TB Joshua. I only went to support my mother, but I got more than I bargained for.

When I got back to Johannesburg, mum told me the SCOAN army had almost shut the airport down, looking for me. They kept interrogating her asking, ‘Where is your daughter?’ On the flight, the other visitors from South Africa told her, ‘Good for your daughter. They act like we are prisoners. She warned me not to talk about what happened, especially not to post on social media about my experience because TB Joshua was a powerful man with a wide reach.

The truth of the matter is that my mother was still captivated by TB Joshua, and she went back there three times with groups of other followers from Zimbabwe.

By 2012 I was working in Lagos and mum called me asking me to go to SCOAN and buy her several bottles of the ‘holy water’ that TB Joshua was selling.

I had sworn never to set foot there again, so I gave her my driver, Biola’s phone number, and told her to ask him to go. SCOAN was selling these small spray bottles of water for $35 and if you sprayed it, the water was supposed to cure any ailment. I gave the driver money to buy 20 bottles, which I figured would last a long time. Apparently, mum was dishing out this holy water to everyone because she kept calling and asking for more. My cousin told me that if you even coughed, she would ask you to open your mouth so she could spray some holy water to cure it.

Her cousin was dying of cancer, and she gave him several bottles, but he did not make it. Eventually I spent over $2,000 on this bogus water so the next time she asked, I told her to give me the money to buy it, and that is how I put an end to that racquet.

TB Joshua was a master at marketing himself because everyday plane loads of people would arrive in Lagos full of people hoping he would perform miracles for me. The sad part of is that many of them did not have a booking at SCOAN and they had no idea where they were going so, they would end up stranded in the airport. I was friendly with other Zimbabwean expatriates working in Lagos and we all had stories of rescuing Zimbabweans at the airport coming off a flight in the hopes of getting to SCOAN to see TB Joshua. Some of them did not even have money for a hotel and even if you did not want to intervene, you could not be heartless. This guy reached out to me once, saying that his parents were obsessed with coming to Nigeria to see TB Joshua. He said that they had been brainwashed through the TV and I knew exactly what he meant. When the BBC documentary came out recently, a friend who knew my experience sent me the link and I watched a couple of episodes. It all makes sense now. Everyone in life faces challenges and here was a man who exploited the masses on a massive scale. People in Africa are poor and especially in a country like Nigeria where healthcare is a challenge, people were eager to believe in miracles since there was no alternative.

Continues online

NEWS

Shell Must Clean Up Ogoni Before Selling $2.4bn Onshore Assets, Says CEPEJ Sunday Aborisade in Abuja The National Coordinator, Centre for Peace and Environmental Justice (CEPEJ) Chief Mulade Sheriff, has appealed to the federal government to ensure that Shell Petroleum Development Company of Nigeria (SPDC) concludes the multi million dollar Ogoni clean up project before leaving the country.

Sheriff who made the call yesterday while addressing journalists in Abuja, said he was speaking

on behalf of other environmental rights activists in the Niger Delta on the need to save the region from further degradation as a result of oil spills, illegal bunkering and oil theft.

Shell announced recently that it was set to conclude over six decades of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary to a consortium of five mostly local companies for up to $2.4 billion.

Residents of the oil rich region have accused it of numerous

onshore oil spills as a result of theft, sabotage and operational issues that led to costly repairs and high-profile lawsuits.

The firm has since 2021, been making moves to sell its Nigerian oil and gas business, but said it would remain active in Nigeria’s more lucrative and less problematic offshore sector.

But Sheriff said yesterday at the news conference that environmentalists and stakeholders of the Niger Delta had agreed to stop the SPDC

from selling it’s multi billion dollars assets until it concludes the Ogoni clean-up project.

He said: “We have only one option, we are calling on the federal government to do the needful but if the government fails, we will institute a suit restraining the sales of those assets.

“We have already commenced the process. Because, until these things are done, we will not allow Shell to exit our land until the proper clean-up is done. Take

for example, Oloibiri was the first land that produced the commercial quantity of oil for Nigeria in 1956, today, Oloibiri is history.

“There is nothing there again, the people are in abject poverty.

The traditional occupation of the people, fishing and farming have been eroded.

“So, what do you expect?

The continuous destruction of confiscated vessels by the Nigerian security agents and destroyed them openly, is against the ethics

Nigeria, India Sign MoU on Renewable Energy Technologies Michael Olugbode in Abuja Nigeria has signed a Memorandum of Understanding (MoU) with India on Cooperation on Renewable Energy, an agreement which focuses on development of new and renewable energy technologies like solar energy, wind energy, biomass/ bio-energy, small hydro and capacity building.

The MoU was signed by Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar and his Indian counterpart, Dr Subrahmanyam Jaishankar, who was on official visit to Nigeria.

The signing ceremony was one

of the activities undertaken as part of the sixth Nigeria – India Joint Commission Meeting held on Monday and hosted by the Nigeria’s Minister of Foreign Affairs and had the Indian Minister of External Affairs in attendance.

The commission reviewed the decisions of the 5th Joint Commission and also the entire scope of bilateral relations between India and Nigeria.

The bilateral meeting held at the Ministry of Foreign Affairs in Abuja covered a wide range of sectors from political, culture, aviation, trade and investment, developmental

partnership, defence and security cooperation to consular matters and regional issues and multilateral cooperation In a parley with the press, after signing the MoU, Tuggar said that Jaishanka had earlier visited Lagos where he held productive meetings with the India-Nigeria Business Forum and also addressed the Nigerian Institute Of International Affairs (NIIA) in Lagos on India and the Global South.

Tuggar said: “We had very fruitful deliberations at the 6th joint commission between Nigeria and

India, several issues were discussed as regards different sectors ranging from economy, trade, consular issues, culture and aviation. I have to say that the meeting was very fruitful and rich.

“You know that Nigeria and India have a lot in common, we are two largest democracies on the continent of Africa and Asia, we are the most populous and we have a strong bond and we have been friends for a long time, our relationship will continue to grow stronger,” he added.

Responding to the press at the parley, Jaishankar said India and

Nigeria share a long-standing and friendly relationship which is rooted in history. “ We are the largest democracies of the world and are the leaders in our continents. In recent years, this has been renewed by contacts between our leaderships,” he said.

India is one of the top economic partners of Nigeria, with investments estimated at about $27 billion and an annual trade turnover estimated at between $13-15 billion.

The next meeting (7th) of the Nigeria-India Joint Commission will be held in India.

of environmental best practices.

“We have told the federal government and we have also called on the security agents for the past eight years and when you apprehend any vessel or local canoe, take these things to the Nigerian refineries.”

Sheriff said the people of Niger Delta will continue to commend the United Nations, whose report gave that opportunity for the clean-up of Ogoniland.

He said: “I can tell you authoritatively that that clean-up to many of us, who are environmentalists, is political. There’s nothing tangible on ground to write about.

“You can only see the clean-up exercise and the process on document. In the land of Ogoni, there’s nothing much. To many of us, we can describe it as a failed project to some extent.

“It will interest you to know that in the Niger Delta, there are more areas that are more polluted than Ogoniland but the good thing is that the people of Ogoni took it upon themselves and have been able to push their case to the international level, and that is why we are talking about Ogoni.

“There are areas that are more destroyed as a result of exploitation and exploration activities in the Niger Delta,” he added.

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

Princess Osifo: The 'Queen of Gas' Expanding Strategic Partnerships for Jeniks Energy Group

With Chairperson of Jeniks Energy Group, Princess Osifo, who is rapidly becoming known as the Queen of Gas, at its helm of affairs, the company is poised to take the energy sector in Nigeria to new heights through deliberate investments in the downstream oil and gas industry. Mary Nnah, who has been following the growing economic partnership between Jeniks Energy Group and the Qatar Gas conglomerate, examines the current deal on gas aggregation investment in Africa that is nearing completion

T

he Nigerian Investment Promotion Commission (NIPC) Act of 1995, as amended in 2004, removed regulations and restrictions on foreign direct investment (FDI), allowing for 100 per cent foreign ownership in all sectors except those prohibited by law for both domestic and foreign firms.

In practice, however, several authorities require domestic equity before issuing an operational licence to a foreign corporation.

Foreign investors are treated roughly the same as domestic investors in Nigeria, including tax breaks.

The Act also established the Nigeria Investment Promotion Commission (NIPC), which was tasked with encouraging and facilitating investment in Nigeria.

The NIPC includes a One-Stop Investment Centre (OSIC), where 27 governmental and parastatal entities collaborate to simplify and streamline administrative procedures for new businesses and investments.

The National Investment Promotion Commission (NIPC) has the authority to negotiate special incentives for large and/ or significant investments. The Act also safeguards citizens against nationalisation and expropriation.

On occasion, the NIPC convenes meetings between investors and appropriate government entities to address individual investor grievances. Because it lacks authority over other government entities to enforce compliance, its function and efficacy in these meetings are limited to the convenor and moderator.

Unresolved investment and commercial difficulties have hampered the NIPC's ability to attract new investment.

The Qatari government's investment arm has entered into a strategic deal with the Jeniks Energy firm to invest in the gas sector, to invest in Africa's vast but mostly unexplored gas reserves.

Interestingly, Jeniks Energy Group, which has major hubs in Ghana, Kenya, and Egypt, as well as Dubai in the United Arab Emirates (UAE), appears to have chosen to work with a global gas investment firm with the strategic Gas reserve and aggregation investment contract and Qatari representation.

The corporation will, however, anchor the contract in Africa, having agreed to a phased operation last year. For proper coordination of the multibillion-dollar operation, Jeniks, which inked the deal with Qatar, has chosen and begun with 11 African countries in Africa, including Ghana as an anchor, as well as Kenya and Angola.

The Chairperson of Jeniks Group, Princess Osifo, has been working with a team of experts and consultants in the energy sector to actualise this massive gas investment deal worth $15 billion, with the Qatar group investing an initial $6 billion for the take-off of the projects that are attracting Governments of Ghana, Kenya, and several others who have already keyed into projects by agreeing to provide the enabling environments and other incentives.

The Qatar Government Investment has prioritised Gas Reserve Acquisition, Liquefied Natural Gas, and LPG projects in several African countries, including Nigeria, Ghana, Kenya, the Republic of Congo, Guinea Equatorial, Senegal, Gabon, Angola, Mozambique, and Tanzania.

Others will begin the initial phase in the first quarter of 2024. The Chairperson of the Jeniks Group has also stated that the Qataris are interested in the Brass LNG project in Brass Bayelsa State, which is a project of the Nigeria National Petroleum

Osifo Corporation Limited (NNPCL) and its Joint Venture Partners, as well as the acquisition of LNG boats for Gas Cargo transport.

Top energy officials stated that the selection of Jeniks Group is a significant endorsement of the company's corporate leadership and the Africa gas and energy market as envisioned by the Qatari investor, who prefers a private sector-led initiative to get the projects off the ground.

Since 2021, Jeniks Group has established its West Africa Headquarters in Accra, Ghana, and another investment office in the United Arab Emirates to coordinate activities between the Qatar Group and some important Middle Eastern areas.

With Princess Osifo and Jeniks Group poised to take the energy sector in Nigeria to new heights, the shrewd businesswoman has opted to say nothing of these crucial but calculated financial moves that will increase Nigeria's earnings and employment.

The purchase of vessels for the lifting and transportation of crude and refined products, as well as the investment in petroleum product assets, are examples of Osifo's deliberate investments in the downstream oil and gas industry.

Osifo is rapidly becoming known as the Queen of Gas. Additionally,

the company has made progress in its negotiations to buy a profitable oil well from a major oil corporation. The oil company is allowing local oil companies to take over by selling off a portion of its Nigerian holdings. As an international LNG investor, Qatar is subject to stringent global best practices and regulations regarding government participation.

Moreover, this investment decision in Africa was finalised in the First Quarter (Q1) of 2023, even though the investors had intended to accomplish a significant milestone by the end of this month, following a sequence of meetings that began last week between Jeniks and the investors.

Economic actors do believe that this initiative comes at a crucial moment for global energy investment in clean energy and renewable energy technologies, which explains Jeniks' decision to refocus its efforts and make calculated investments in gas.

The noteworthy business accomplishment stems from a private initiative between a consortium of Qatari investors and Jeniks, in addition to the $5 billion that the Middle Easterners pledged to invest in Nigeria in April of last year.

Asserting that there had been discussions regarding collaborating with their Sovereign Wealth Fund (SWF) for significant investments in the vicinity of $5 billion, representatives from Qatar confirmed the country's commitment.

To help Nigeria and other African nations revitalise their energy sectors, officials claim that Qatar is a strategically important Middle Eastern nation.

The agreement between Jeniks and the Qatar Group will open up new possibilities for the infrastructure, development, and exploration of gas reserves in Nigeria and other African countries, by regional players and Nigeria's domestic gas utilisation agenda

The agreement between Jeniks and the Qatar Group will open up new possibilities for the infrastructure, development, and exploration of gas reserves in Nigeria and other African countries, by regional players and Nigeria's domestic gas utilisation agenda.

Moreover, increased investment in the power and gas-based industries will result from this deeper use of natural gas. It has been confirmed that Nigeria possesses gas reserves totalling approximately 203 trillion Standard Cubic Feet. These reserves are being brought to the market using various policies and industry intervention initiatives.

The Nigeria National Petroleum Company intends to augment its gas operations and augment its export capacity upon the project's completion.

The Jeniks Energy Group and Qatar are working together to implement a major gas aggregation project in the area. The companies claim that this is a calculated strategic move that will enable them to access the enormous, mainly unexplored gas reserves in Africa.

The collaboration, which goes by the name of the Qatar-Jeniks Africa Gas Project, now encompasses 11 African nations: Ghana, Kenya, Tanzania, Angola, Sierra Leone, Morocco, Egypt, and the Benin Republic.

Zambia, Rwanda, and Mozambique are included in the first phase, according to the firms.

Notably, advanced negotiations are underway to confirm Nigeria's comprehensive plan for gas aggregation, making the country an important player in this agreement. Analysts claim that Jeniks Energy Group, chaired by Princess Osifo, has made significant strides with Qatari partners over the last four years in organising the gas investment throughout the eleven chosen African nations, which include Ghana, Kenya, Egypt, and Angola.

Princess Osifo has been diligently working to actualise this multibillion-dollar gas investment deal, according to Steve Ati, an expert in the oil and gas industry, and a team of experts and consultants in the gas and energy sector.

The speaker stated that several African governments have expressed interest in the projects, as Qatar has committed an initial investment of $9 billion to kickstart them. Leading energy officials see Jeniks Energy Group's participation as a significant endorsement of the corporate leadership's ability and potential in the African gas and energy market, as envisioned by Qatari investors looking to fund initiatives led by the private sector.

As a global investor in the LNG market, Qatar's government complies with strictly regulated international best practices and standards, according to another energy expert, Abdulraheem Salisu.

"A major milestone is expected before the end of this month, marked by ongoing meetings between Jeniks and investors," he stated. "The African-based investment decision is projected for completion in the first quarter of 2022."The project is underway at a pivotal moment in the global energy landscape, when there is a great demand for clean energy and renewable energy investments. In line with this worldwide trend, Jeniks has decided to redirect its focus and strategic investments towards gas.

In addition to the $5 billion Middle Eastern investment agreed upon for Nigeria in April of the previous year, this breakthrough is a private initiative between Jeniks and investors from Qatar.

In line with Nigeria's goal for domestic petrol usage, the investment seeks to revitalise the energy sector in that nation and other African nations.

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CITYSTRINGS

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

Call for Excellence and Reward for Diligence, Dedication at Globacom's Twenty and Unlimited

Themed, “Twenty and Unlimited”, Digital solutions provider, Globacom, over the weekend rewarded its long-serving employees at a lavish reception in Lagos as part of its 20th Anniversary celebration. A total of 89 staff members who had worked for the company for an unbroken 20 years were rewarded with several millions of Naira each. Chiemelie Ezeobi reports that beyond the razzmatazz of the night, it was a call to strive for greater excellence in serving Nigerians

Some of the 89 members of staff of Globacom who were rewarded for two decades of dedication

Chike thrilling Glo staff with his hit songs

Governor Adeleke and Ovation Founder, Chief Dele Momodu at the event

Executive Vice Chairman of Globacom, Mrs. Bella Disu with Chee and a host of Glo staff

L

ast weekend was an high-octane party and night of razzmatazz, fine dining and exquisite wining at Eko Hotel and Suites in Lagos when digital solutions provider, Globacom, hosted its staff to a colourful and glitzy 20th anniversary party.

Beyond the night of dance, music and comedy, its long-serving staff were celebrated and rewarded for their loyalty and commitment in the last 20 years.

The night had in attendance members of staff from across the country who thronged the venue in signature Glo colour-compliant dresses and costumes while the trio of Wande Coal, and Glo ambassadors Chike Ezekpeazu Osebuka and Oluwatobiloba Anidugbe popularly known as Kizz Daniel were in their element as they churned out beautiful vibes that kept the audience dancing all night.

Also in attendance were the Governor of Osun State, Ademola Adeleke; Ovation Publisher, Dele Momodu; Nollywood stars, Ego Boyo, Ini Edo, Juliet Ibrahim, and Bolanle Ninalowo, as well as comedian Broda Shaggi, and fashion icon, Mai Atafo. Chef Gbugbemi Fregene (Chef Fregz) as well as Arise' Ojy Okpe.

their contributions to the growth of the business in the last 20 years. The party, she said, was organised to reward them and encourage them to keep striving for greater excellence.

While paying glowing tribute to the awardees for their immense contributions to the growth of the company over the past 20 years, she also commended different business units for the efforts that has kept the company on success-path over the years.

She said, “This year, I want us to move forward with even greater zeal and energy than we had in our first two decades, and I want you to know without a doubt that your work is the foundation and key to our future.

"This year, we are committed not only to our company’s growth but to your individual success. We will work tirelessly to increase value for you, our staff, all our subscribers and to all stakeholders.

This is our promise to you. Thank you for twenty years. Together, we are good and together we are unlimited”.

Lavish Appreciation at Twenty and Unlimited Themed, “Twenty and Unlimited”, the lavish appreciation was held as part of Globacom’s 20th Anniversary celebration.

The company also rewarded a total of 89 staff members who had worked for the company for an unbroken 20 years with several millions of Naira each at the exquisite party.

A Night of Wins It was also a night of major wins in different categories for Glo staff. The

highlights of the evening were different categories of competitions for staff which also attracted handsome rewards from the company.

These included Mr. and Miss Glo pageants where Ifoghale Ashaka emerged Mr. Glo with the duo of Hakeem Obayomi and Olalekan Agbaje trailing behind him as first and second runners-up.

While Mr. Glo won N2million, Hakeem and Olalekan went home with N1million and N750, 000 respectively. In the Miss. Glo category, Miss.

Gift Okafor was crowned, winning N2milion with Favour Akinbayo winning N1million as first runner-up with a cash prize of N1million while Faith Chika Obi got N750,000 as second runner-up. The Best dressed male and female also won N500,000 each.

In the dancing competition, Tegha Mobaghan won N500,000 in the female category with Abiola Agunbiade winning same prize in the male category.

Chukwudi Okorie and Otesanya Adetayo were winners in the singing competition, taking home N500,000 each as well.

There was also food “quaffing” competition which attracted N500,000 to the winners in the male and female categories, while 20 early birds (first to arrive at the party) won N250,000 each just as 50 Midnight Owls (last to leave) also got N500,000 each in the two gender categories.

This year, I want us to move forward with even greater zeal and energy than we had in our first two decades, and I want you to know without a doubt that your Encouragement to Strive for Greater Excellence work is the foundation and key to our future. This Speaking at the party, the Executive Vice Chairman of Globacom, Mrs. Bella Disu, year, we are committed not only to our company’s noted that the Board and Management of the company were pleased with the awardees for growth but to your individual success

There was also a surprise award of N250,000 to 50 random winners in a lucky dip drawn in the presence of the attendees.

Globacom: 20 Years of Unwavering Innovative Commitment to Nigeria In 2003, Globacom commenced operations with the rollout of innovative and affordable telecommunication services. And in two decades since it's existence, the digital network provider has been transforming the telecommunications landscape, fulfilling dreams, and positively affecting the lives of millions of Nigerians.

In those two decades, its commitment to providing its customers with world-class communications and digital services through constant deployment of latest technologies in line with the corporate promise to build a robust fully integrated ICT network infrastructure that would consistently deliver value to its esteemed customers, has not waned despite daunting challenges, Globacom Senior Manager, Communications, Mr. Arinze Anapugars, one of those celebrated for two decades at the company, said.

Promise for the Future Always acknowledging that its huge success is a result of the support of millions of Nigerians, Globacom restated its commitment to the provision of world-class communications and digital services in line with the corporate promise it made at launch to build a world class communications and technology infrastructure that would consistently deliver value to its esteemed customers.

While vowing to remain a catalyst for socioeconomic empowerment not only in Nigeria but also in Africa, Globacom said it would continue to invest massively in new technologies to exceed customer expectations of its over 61 million subscribers to make it the first choice network for millions of subscribers.

23

T H I S D AY • Wednesday, January 24, 2024

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

J a n u ar y

S & P INDEX

2 3 , 2 0 2 4

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 to daTE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT Monday, July 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Analysts: Increase in Currency Outside Banks Fuelling Rise in Insecurity

Nume Ekeghe As the spate of kidnaping for ransome and other criminal activity in the country spiral out of control, experts in the financial service sector have linked the menace to increase in currency circulating outside banks, which climbed to record high as of Q4 2023 This correlation comes as questions swirl around the reversal of the Central Bank of Nigeria’s (CBN) cashless policy, which previously imposed limits on cash withdrawals and encouraged digital transactions.

Recently, data released by the central bank indicated a substantial surge in currency held

outside the banking system as at Q4 2023, reaching unprecedented levels in historical comparison.

According to the central bank data, the total currency in circulation (CIC) as at November, 2023 stood at N3.35 trillion, with currency outside the banks amounting to N3.08 trillion, representing a substantial 92 per cent of the total CIC. In an interview with THISDAY, the Group Chief Executive officer, Cowry Assets Management, Johnson Chukwu said: “Remember that during the cashless policy, we almost eliminated incidents where people came to people’s homes to rob them of cash. So we eliminated robbery at homes and

highway robbery because the robbers knew that the chances that they would get cash were minimal. But now if you reverse that process, you’re going to have those crimes come back.

So you’re not just going to deal with kidnapping for ransom. You may also deal with highway robbery and robbers come into homes because they expect people to keep cash.”

He added that the cashless policy of the government had very positive security implications and maintained that he supported the cash withdrawal limits for corporates and personal transactions.

He added: “Unfortunately, the current CBN has revised that

which means it’s an intentional act to allow cash outside the banking system. What we are witnessing now is it designed by the current administration of the central bank by reversing the entire cashless policy and removing all penal charges for cash withdrawal and cash lodgment.

“So, once you do that, you have unwound years of cultural change, or attitude change that had been implemented from the Sanusi era to the now. So it’s not strange that we’re seeing an increase in the volume of cash outside the banking system.

Also, remember, that there is a transaction charge for every transaction with the bank. So an

average businessman who will want to bypass, circumvent or avoid the charge if there is no penalty for keeping cash. And as you rightly said, we’re seeing an increase in kidnapping for ransom because if they know that they can get cash from you they don’t need to lodge the cash into the banking system.”

On her part, Senior Associate at Parthian Partners, Okiki Oladipo said: “While there could be potential correlation between the rise in currency circulation and insecurity, there are other factors that could contribute to this.

“The Stanbic IBTC bank Nigeria PMI’s data for March 2023 recorded a contraction of

42.3 per cent, after which we started to see expansions with a high of 54 per cent in May 2023.

This connotes an improvement in the performance of the private sector, also drawing an inference of increased activities in the informal sector, where cash transactions are a norm,” he said.

“Hence, to curtail the upward trend of currency outside the banking system, the issues surrounding accessibility would have to be addressed.

More efforts in the line of what is being done by the Payment Service Banks (PSBs) should be further propagated, to capture more people and businesses within the financial system,” she said.

‘Risks Drawing Focus on Insurance Capacity as Business Safety Net’ Ebere Nwoji Insurance experts have said that increasing frequency and severity of local and global risks, especially emerging risks like climate change, and cybercrime is drawing focus on the insurance industry’s capacity and readiness to react as financial safety nets for businesses.

According to them, in recent times, most insurers are realising that reacting to risks may not be good enough and are undertaking

transformation efforts aimed at preventing losses from happening in the first place.

The experts harp on risk preventive mechanism as the preferred way to run insurance firms.

Nigeria’s, National Insurance Commission (NAICOM) often emphases on what it tagged, Enterprise Risk Management mechanism among insurers as a way of preventing risk occurrence.

The commissioner for

insurance, Sunday Thomas, recently released a framework to serve as a guideline on Takaful insurers and reinsurers.

The commission said in doing this, it intended to establish minimum risk management standards for Takaful and retakaful operators.

In the new business year, finance experts said the severity of emerging risks in the area of climatic change and cyber crime is most like going to serve as acid

test for value of insurance as risk bearing hob of every business.

Deloitte in its outlook for insurance sector in 2024 said this shift to a more customer-centric business model will likely require advanced technology adoption and modification of company culture to help minimise siloed interactions, enhance collaboration among employees, and increase accessibility of customer data but said that skill sets may need to be augmented.

“Merger and acquisition (M&A) activity has been on a decline since Q2 2022 due mainly to macroeconomic factors. However, as increases in interest rates and inflation ease, pent-up activity may drive an upsurge in deals later in 2024. Insurance technology companies (InsurTechs) remain front and center of acquisition activity as carriers increasingly look to these capabilities for point solutions across the value chain to power transformation efforts,

“it said.

According to Deloitte, fundamental mission underlying much of this change is that the industry’s role is pivoting to that of a sustainability ambassador, influencing and propelling purpose-driven decisions and strategies of clients across industries to create a better workplace, marketplace.

It said insurers are transforming to achieve customer-centricity and elevate purpose.

M a r k e t d ata A s at F r i d ay, J a n u a r y 2 3 , 2 0 2 4 BONDS Description Price Yield Change Updated Time (%) ^13.53 23January 101.49 12.10 -0.01 23, 2024 MAR-2025 ^12.50 220,00 January 99.40 12.84 23, 2024 JAN-2026 ^16.2884 17January 109.01 12.72 -0.01 MAR-2027 23, 2024 ^13.98 23January 103.01 13.00 0,00 FEB-2028 23, 2024 ^14.55 26January 104.60 13.29 -0.01 APR-2029 23, 2024

BILLS Maturity

Discount Yield

Change (%) Updated Time

Maturity

NTB 25-Jan24 NTB 8-Feb24 NTB 7-Mar24 NTB 11-Apr24 NTB 9-May24

1.08

1.08

0.00 January 23, 2024

6.52

6.54

1.25

1.26

0.00 January 23, 2024

RMBL CP VI 31-JAN-24

8.96

9.04

1.61

1.61

0.00 January 23, 2024

CRSL CP II 18-FEB-24

10.37

10.50

2.06

2.07

0.00 January 23, 2024

FLOURMILLS CP III 29-FEB-24

7.78

7.89

2.43

0.00 January 23, 2024

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

8.74

8.94

2.41

OTC F X F U T U R E S

CPs Discount Yield

Change (%)

Updated Time

0.00 January 23, 2024 0.00 January 23, 2024 0.00 January 23, 2024 0.00 January 23, 2024 0.00 January 23, 2024

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

Updated Time

January 23, 2024 January 23, 2024 January 23, 2024 January 23, 2024 January 23, 2024

24

Wednesday, January 24, 2024 • T H I S D AY

BUSINESSWORLD

Interview

Chukwu: There Should Be Conservative, Cautious Approach to Banking Sector Recapitalisation In this interview, the Group Chief Executive Officer, Cowry Asset Management, Johnson Chukwu, spoke on fiscal and monetary policies and their direction into 2024, the planned banking sector recapitalization and other topical issues in the economy. Nume Ekeghe presents the excepts: Can you give us your take on the banking sector this year as the sector is set to recapitalise? ell, I think the banking sector is still quite strong, it still remains one of the strongest sectors in the economy. It is also one of the fastest-growing sectors of the economy. If you look at the third-quarter GDP growth rate, you see that the sector grew by more than 28 per cent. But beyond that, in terms of health, I believe that 99 per cent of the operators in terms of asset size are healthy. There might be a few weak operators, but when it comes to market control or market share it is inconsequential given the size of the market or the structure of the sector.

We need some level of consolidation, but also the sector is one of the more dynamic sectors of the economy in the sense that the younger operators or new entrants that come with superior service or high quality have space to compete. We have seen new banks that were licensed a couple of years back and they are competing well. We have also seen other service providers like FinTech, and businesses, providing disintermediation services and financial services.

So, I think it is one vibrant sector of the economy irrespective of challenge the economy. In terms of the recapitalisation, you did mention, the CBN governor when he made that statement did not specify a timeline for that. So we are not sure when that process will take place. But I’m one of those apostles that urges that they need to think deeper when it comes to capitalisation of the banks because the banks currently carry operating capital that is sufficient to meet their business needs. And I say that with a high sense of responsibility to the extent that, if you want the banks to carry a capital requirement required for a $1 trillion economy, the Nigerian economy is not going to get $1 trillion in the next 20 years or 30 years at the current growth rate. So you’re gonna have the banks carrying capital that is beyond their operating need. This means you are going to get to a point where the return on capital employed by the banks will be inconsequential and will decline so much that investors will no longer be interested in buying banking stocks.

My take is that even with the government projection based on the medium-term expenditure framework that the economy will grow 3.7 per cent in 2024 and 4.22 per cent 2025 and 4.7 per cent in 2026 and if you use that trajectory, there is no way that growth rates will lead you to an economy of $1 trillion in 2030. Remember the economy today, given the devaluation of currency will certainly be less than $400 billion. So I think the central bank has to be more circumspect when they want to make that decision because it could have a negative impact on the banking industry, where investors will lose interest in investing in bank shares because the bank shares are generating returns far below the commensurate return they will get from any other asset class.

talked-about policy but as we speak, we are seeing the depression of the local currency to the extent those of us who had aggravated for harmonisation were right.

Another aspect of the fiscal policy is when you look at the budget. If you look at the implementation of the budget, and I’m talking about the period that the current government was in power last year.

And then you consider that based on the report published by the government, the performance of the 2023 as at September last year the federal government budget deficit was N4 trillion and at that point, if you consider the fact that the government total revenue for the first nine months of last year was N12.7 trillion.

Total revenue was N8.65 trillion, leaving you with a budget deficit of N4 trllion which the government had said was funded locally, mostly by ways and means. But that is not the big story.

The big story is that by December, the government went to the National Assembly with a request to securitize N7.3 trillion, which implies that N3.3 trillion was incurred as a budget deficit within a period of three months. So it is difficult for me to see how the government bought the N3.3 trillion in three months and where it was invested in and those questions are not being asked. So if it turns out that the government incurred N3.3 trillion in three months, because we had an increase from 4 trillion according to government publication then it puts a huge question mark on the government’s fiscal responsibility.

W

Chukwu day. If we look at what the budget said, the budget breakdown noted that by September last year, our average crude production was about 1.3 million barrels a day. So we need to increase production to stabilise exchange rates.

The other option we have will be for the federal government to borrow long-term from either multilateral partners or bilateral partners.

So that will require government borrowing without having to pay immediately. Not the type we have from Afrexim bank, we need a loan that would give us five-year moratorium to stabilise our foreign exchange market.

If you borrow and you have to start paying back immediately, it then means that the receipts you would have gotten from the sale of crude will be forgone.

Also, eliminate the panic buying because the panic buying comes from those whose monies are trapped so when they see a further movement in exchange rates, they are compelled to demand for it at any cost. We need to eliminate that so that we know that demand is based on current market demand.

“If we look at what the budget said, the budget breakdown noted that by September last year, our average crude So what’s a realistic figure instead of $1 trillion economy? production was The first thing is, if we are growing at 5 per cent, by 2030, we will just be about $550 billion. So for about 1.3 million you to grow to become a $1 trillion economy, you need to grow at more than 20 per cent. And no economy has recorded 20 per cent year-on-year barrels a day. So growth for five to six years. But even 20 per cent, you will still not achieve $1 trillion by 2030. we need to increase So for me, it was a figure that came from the Away from monetary policies, what air. So we need to interrogate that figure and I production to are your takes on the fiscal policies that think that is what is missing. have been implemented now and how do Nigerians are now asking how we arrive at you see it playing into 2024? the $1 trillion, what kind of projected growth stabilise exchange Firstly, fiscal policies also have their chalrate we expect the economy to record and which lenges. We have had some level of boldness sector would drive that growth rate. rates.” on the part of the President in making difficult The banks would carry capital they need for operating business which means there must be businesses they need that they can lend to. There must be liabilities in the economy that the capital they are carrying will help them generate. But if you are looking at the current economic size, bear in mind that some of the Nigerian banks already have more than N1 trillion in shareholders’ funds.

How would you access foreign exchange policy and how deep do you see the naira sinking?

The basic thing you to recognise is that we are not generating fund and liquidity into the economy, and we need to generate sufficient foreign exchange into to the economy to moderate the rate at which naira is depreciating. There are some

levels of consumption that the economy of this size is bound to demand from foreign goods. For instance, refined petroleum accounts for about 30 per cent of our imports. Then other items like machinery and other items account for 70 per cent of our imports. Even if we eliminate 30 per cent of our imports, you’ll have to still deal with the 70 per cent of imports. So you must have export earnings that are sufficient to meet that demand.

So in terms of export earnings, we are not getting enough of that because our major source of export is crude. Much of it has been pledged upfront and our production has stagnated around 1.3 million barrels a

decisions, which for me are commendable.

But how those decisions were taken, created challenges that should have been avoided.

For instance, if you talk of fiscal policy, the President had proclaimed the elimination of subsidies on petroleum products but we know the subsidy has come back because the exchange rate has devalued materially so the landing costs of fuel are clearly above the pump price. So you have the well-intended policy decision on the fiscal side, but obviously, through the process of implementation and other exigencies, it looks like the benefit is being reversed.

The other aspect is the harmonisation of the exchange rate. which also is ell well-deserved

Recently, data shared by CBN showed that currency outside banks is 92 per cent of the currency in circulation, which is way above what prompted the naira redesign. How can you relate that to present rise in insecurity which was also key reason for the naira redesign policy?

I have said in previous engagements that the cashless policy of the government has very positive security implications. I’m not going about cashless as to what the immediate CBN governor did towards the end of 2022 and last year, when he denied people having legitimate access to thier cash. I’m talking about the cashless policy that specified N150,000 as a maximum withdrawal limit for personal accounts, and N500,000 for corporate accounts.

Unfortunately, the current CBN has revised that which means it’s an intentional act to allow cash outside the banking system. What we are witnessing now is it designed by the current administration of the central bank by reversing the entire cashless policy and removing all penal charges for cash withdrawal and cash lodgment.

So, once you do that, you have unwound years of cultural change, or attitude change that had been implemented from the Sanusi era to the now. So it’s not strange that we’re seeing an increase in the volume of cash outside the banking system.

Also, remember, that there is a transaction charge for every transaction with the bank. So an average businessman who will want to bypass, circumvent or avoid the charge if there is no penalty for keeping cash. And as you rightly said, we’re seeing an increase in kidnapping for ransom because if they know that they can get cash from you they don’t need to lodge the cash into the banking system. Then they are not encouraged.

Remember that during the cashless policy, we almost eliminated incidents where people came to people’s homes to rob them of cash. So we eliminated robbery at homes and highway robbery because the robbers knew that the chances that they would get cash were minimal. But now if you reverse that process, you’re going to have those crimes come back. So you’re not just going to deal with kidnapping for ransom. You may also deal with highway robbery and robbers come into homes because they expect people to keep cash.

So would suggest we go back to limits, or what is a quick win?

I really don’t understand the reason for that.

Because in terms of technology, we have seen a huge improvement in technology. So in terms of the payment system, we have one of the most inefficient in Africa. So, I wouldn’t know what prompted the decision to reverse the charges on cash withdrawal and cash lodgment. I don’t think it is a technology issue, because Nigerians are adopting technology at a very fast rate. So unless you have other compelling reasons I think they need to review that decision.

25

T H I S D AY • Wednesday, January 24, 2024

BUSINESSWORLD

Insurance

Ragging Battle over N9.6bn Group Life Insurance Cash The N9.6 billion approved by federal government for Group Life Insurance of its workforce Is causing ripples among insurance stakeholders, writes Ebere Nwoji.

L

ast week, the federal government announced that it has approved the sum of N9 .6 billion for the renewal of Group Life Insurance of its workers.

This was disclosed by the Minister of Information and National Orientation, Mohammed Idris, at the end of the first Federal Executive Council (FEC) meeting for the year held in Abuja.

Idris, said the President approved about N9.6 billion for 12 local insurance firms to cover the federal workers in case of unforeseen eventualities in the course of their duties.

He said it was a normal annual cover that insurance companies give to workers. So, in the event of death or severe injury, they can resort to it and so that their families would not have to suffer.

“There are about 12 insurance companies involved. It’s a normal annual cover that insurance companies give workers. So, in the event of death or severe injury, they can resort to it and so that their families would not have to suffer,’’ he said.

However, since this announcement, there have been reactions from the general public especially insurance stakeholders. Some have remarked that the minister did not clarify whether this is the total amount President Tinubu’s administration has approved for the workers’ Group Life Insurance cover for the entire year or for a short period to serve as part payment for the coverage.

This question arose because of the statement by the minister on the N9.6billion in which he said: It’s a normal annual cover that insurance companies give workers. So, in the event of death or severe injury, they can resort to”is to be taken the way he said it, it then means that the amount is the annual premium for the federal workers’ group life insurance cover, which to the insurers amounts to a sign of irregularity.

Budget, Insurers’ view

In the original document of the federal government budget proposal, THISDAY checks reveal that a total of N854.81 billion was allocated to pensions, gratuities and retirees benefits under which group life insurance falls, therefore, to approve or allocate mere N9.6 billion as total premium for group life insurance of the entire workforce of government is obviously a disorder.

But insurers argued that if the N9.6 billion is not just a part payment for the workers’ group life insurance premium but is taken as the full premium for the policy for the entire year, irrespective of basis of calculation, then something is wrong some where.

Their reasons are not far fetched. In 2020,the insurers received a total of N15 billion as premium for group life insurance of government workers.

In 2022/ 2023, government appropriated N24.7 billion for the policy representing 64.7 percent increase in the N15 billion it appropriated for the policy in 2020 although last report heard on this in the November of that year said insurers received only 50 percent of the total premium despite N9.2 billion approved for the policy by the Federal Executive council in its meeting in June that year. It was gathered that the delay in payment of the total premium was not unconnected with government’s dwindling income during the period, a situation which compelled government to enter into dialogue with the insurers on the possibility of reducing the premium payable on the policy.

With the approval of N9.6 billion for the policy this year, insurers have questioned the rationale behind the over 50 percent reduction on the premium on the policy.

Some insurers said they only assume that this is just but a part payment of the entire premium while others have argued that if this is the full premium for the policy at this time when inflation rate between 2022 and 2023 when N24.7 billion was allocated then government was not fair to the policy.

Speaking, the Managing Director Universal Insurance Plc, Dr Ben Ujoatuonu, said he would have loved to reserve comment on this until government comes out with clear information on its allocation to group life insurance of its workers. He said he assumed that the N9.6 billion was part payment because irrespective of number of government workers that have retired between last year and this year, the existing workers’ salary and basis of calculation, the total premium for the group life insurance of the entire workforce of government cannot be N9.6 billion as approved by government.

He also said it all depends on their basis of calculation and rate applied.

For the former Chairman Nigeria Insurers Association and Principal Consultant Carefirst Consult, Mr Gus Wiggle, this is much below expectation if the said figure is the total approved by government for group life Insurance of its

entire workforce.

“It’s unfortunate that we have treated premium on Group Life as if we are buying “nama”(cow) in the open market. What is the parameter for approving or paying N9.6 billion for Group Life? How was the rating done, or who did the rating to determine the premium is N9.6 billion?

Honestly, the N9.6 billion to me without any actuarial valuation is inadequate. Are we saying we have less Civil Servants than we had last year?

Or maybe they have reduced the Sum Assured and have a flat Sum Assured for all categories for employees!” he asked.

He wished the President was well advised on the matter before the approval.”I hope he has been well advised on this subject”, he concluded.

The Managing Director, Afriglobal Insurance Brokers, Mr Casmir Azubuike, said he was not sure how much was paid last year or previous year, but that certainly, there was more than N9.6 billion released.

“I don’t know where your statistics of 15 billion premium for 2020 came from. What I know is that there is no basis for 2024 Group Life premium to be less than 10 billion. The premium rate for the policy has not changed since 2020. The work force has not dropped either. “ If truly the premium for 2020 was as much as 15 billion, the only thing that could have caused a significant reduction is a drastic reduction in the emoluments. Unfortunately this is also not possible because it is statutorily defined. My conclusion is this: It is either the figure you quoted from 2020 to 2024 respectively could be wrong or the N9.6billion for 2024 could be a part payment,” he added.

THISDAY recalls that shortly after the release of the approved N15 billion premium for the Group Life assurance of its workforce by the Federal Government for 2020, the Former President, Nigerian Council of Registered Insurance Brokers (NCRIB), Dr. Mrs Bola Onigbogi, commented on this saying: “The 2020 Group Life is off the schedule because full premium has been paid on the account for the current year. There is no lapse in cover at the moment.”

Onigbogi, who was represented by the Vice President of the Council, Tunde Oguntade, at a meeting with the NCRIB’s officials, however urged the Federal Government to always engage the services of the registered insurance brokers to mitigate the risk of contract failures.

Section 4 (5), of the Pension Reform Act, 2014 states: “Every employer shall maintain a group life insurance policy in favour of each employee for a minimum of three times the yearly total emolument of the employee and premium shall be paid not later than the date of commencement of the cover.”

Abuse of Group Life Policy

Despite this, Like third party motor insurance, group life policy has suffered much abuses by private and public sector employers and their agents, as well as government insurance desk officers and agents.

The Group Life Insurance policy is one policy that supposed to make both public and private sector employees’ career interesting and attractive because of its ability to rekindle hope to families of both deceased workers and workers who suffered permanent disability.

The policy is designed to pay huge claims to dependants of employees who died in active service or those who suffered permanent disabilities.

Unfortunately, this particular policy has so much suffered abuses that for many workers and their employees, it is non-existent.

The result is that for many Nigerian workers, especially low and middle class workers, the moment the family breadwinner dies, the

hope and living standard of his or her family automatically crumbles.

This is because findings on industrial accidents and fate of Nigerian workers done by the writer of this analysis recently shows that among private sector workers especially factory workers in manufacturing firms owned by investors from Asian countries doing business in Nigeria there is no arrangement for group life insurance.

What obtains is that the employers connive with heads of workers’ union not to establish group life insurance policy or any other package for welfare of the workers in case of accident that leads to death or permanent disability which the group life cover is meant to cater for. These workers union leaders collect bribe from their factory owners to deny workers such rights and in the event of accident, they visit the families drop a paltry sum and that will be the end.

In case of government employees, initially government insurance agents were the problem as they will beat the premium rate to the skin taking advantage of insurers’ voraciousness

over the business as everybody wants to grab the business by all means especially through premium rate cutting. As such, they were ready to accept anything the agents choose to offer.

The result is that when the unforeseen happens, the insurers will not have enough premium to pay the right claim and where they pay at all they underpay the victim.

But NAICOM later prevailed on them to do the right thing and most of them complied while some dropped the business.

Insurers admitted that in both 2020 and 2021, government made provisions and released fully the fund budgeted for the group life insurance of its workforce. This is an improvement from the hitherto situation whereby government will announce the budget for the group life insurance of its workforce as well as funds for insurance of its assets but the release of the stated funds becomes a problem.

In this year’s budget, insurers have lamented that government has gone back to former practice of shortchanging the insurers by underpaying premium for the policy.

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WEDNESDAY JANUARY 24, 2024 • T H I S D AY

WEDNESDAY JANUARY 24, 2024 • T H I S D AY

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T H I S D AY

WEDNESday, JANUARY 24, 2024

business/MOnEYGUIDE

Ogunbiyi Assures on Mutual Benefit’s Contribution to Economic Growth Ebere Nwoji The Chairman, Mutual Benefit Assurance Plc, Dr Akin Ogunbiyi, has assured that the underwriting firm would continue to contribute its quota towards moving Nigeria’s economy forward .

Ogunbiyi said this at the firm’s 28th annual thanksgiving ceremony,held in in Lagos, adding that the underwriting firm definitely has solutions to challenging problems.

He said 2023, was indeed pivotal in the history of the organisation, noting that with the help of the Almighty God, it scaled through formidable hurdles and mighty obstacles, as the One who epitomises ultimate power helped the firm.

“We have rebounded. Today, we are healthier and better. I want to assure you that we have indeed started this year, 2024, on the impressive note of tremendous progress and rejuvenated energy.

“On behalf of myself and my dear wife, I am here today to say thank you, first and foremost to the Almighty GOD and then, to my colleagues on the board, the management and of course, my real family members, respected staff members of Mutual Benefits Assurance Plc and their families,” he said.

Ogunbiyi submitted that when the firm’s resilience was tested, the purpose of the organisation, defined them, faith in God kept them, hope and reliance on dedicated and committed team members gave them confidence.

He said the outcome of the firm’s absolute dependence on the Most High GOD is that He will continue to lead it, teach the management and direct them, continue to defend them, show them mercy and always bless them.

He noted that unlike most companies, Mutual Benefits Assurance always go the extra

mile for its customers. “We are very mindful of the high inflation in our economy and its effects on the lives and livelihood of our dear customers. It is a fact that consumers are indeed feeling the pinch but Mutual Benefits will always make sure they have value for the purchases of our highly beneficial insurance services and allied products,” he posited.

Continuing, Ogunbiyi said: “Customers should know that we provide value options at different premium levels to enable you choose the most appealing and affordable. For instance, for vehicle insurance, we have different premium levels for the third party, the third party-plus and of course, the comprehensive insurance policy. We have differentiating offerings in each category and therefore fix premiums that will resonate with each segment.

Ibadan Explosion: NCRIB Condoles Gov Seyi Makinde,Victims’ Relatives

The President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Babatunde Oguntade has commiserated with Governor Seyi Makinde and the people of Oyo State over the recent explosion that has claimed lives and properties worth several millions of naira.

The explosion which occurred on Tuesday, January 16, 2024 in Ibadan reportedly left over seventy people badly

injured while the number of death casualty has increased to five .

Prince Oguntade in a condolence letter written to the Executive Governor of the State expressed the Council’s deepest sympathy to the Governor and the people of the state stating that the tragic explosion destroyed assets of substantial economic value in the state.

He stated, “we extend our wishes of comfort and strength to the families affected in general and the victims in particular who are enduring the aftermath of this devastating occurrence.

“In the light of this trying time, we recognise the importance of solidarity and collaboration in addressing the pains and the losses of this incident”, Oguntade stated.

TGI Unveils Terra Gold Cube The gold standard in the Seasoning Cube has been launched, Terra Gold Cube.

Terra Gold is making a significant leap in the culinary space across Nigeria. Breaking away from traditional flavourcentric cubes, Terra Gold represents a paradigm shift in the culinary landscape by offering endless possibilities without confining itself to a singular flavour.

Unlike conventional cubes boasting specific taste profiles, Terra Gold stands out by breaking the mould – it is a cube without boundaries, a defined flavour, and limitations.

Terra Gold is designed to harmoniously elevate the taste of your favorite

stews, soups, and beloved Jollof rice, acting as a versatile enhancer without imposing its own taste identity. Its appeal lies in its ability to seamlessly blend and amplify the natural flavours of your dishes, enhancing them to perfection without overpowering or dictating a specific taste.

The beauty of Terra Gold lies in its neutrality and its versatile nature that transcends the confines of traditional seasoning. This unique attribute appeals strongly to a wide consumer base seeking flexibility and endless possibilities in their culinary choices.

Chief Marketing Officer, TGI Group, Probal Bhat-

tacharya said the launch of Terra Gold Cube marks an exciting chapter in the brand’s innovative journey in the Nigerian market.

“We are excited for the diverse array of delicious dishes that Terra Gold can be used to enhance.

From hearty stews and nourishing soups to the beloved Jollof rice, Terra Gold delivers a rich and consistent taste for every kind of meal, so choose wisely, choose Gold. We are thrilled to witness the transformative impact that Terra Gold will bring to kitchens across Nigeria, inspiring a new wave of culinary masterpieces one dish at a time” he said.

TREXM Energy Rebrands Ugo Aliogo TREXM Oil and Gas Services Nigeria Limited, has announced its rebranding to TREXM Energy Services Limited (TREXM Energy), reflecting its expanded portfolio and vision for the future.

The company in a statement said the rebranding is part of the company’s strategic transformation to diversify its offerings and position itself as a leader in the oil and gas and energy sectors, adding that TREXM Energy would

continue to deliver excellent project delivery services, while also exploring new opportunities across the energy and oil and gas value chain.

Managing Director and CEO of TREXM Holdings, Bolutife Odusanya, said: “We have grown our brand as TREXM Oil and Gas Services Nigeria Limited and are rebranding to TREXM Energy Services Limited as part of our business plan to serve clients in different sectors not limited to the oil and gas industry.

“Our goal is to develop highly specialized vehicles

that generate exceptional value and unique value propositions within various service sectors in the energy and industrial value chain.”

The Chief Operative Officer, TREXM Energy, Sunday Ukpai, commenting on the rebrand, said: “Undertaking the rebranding of TREXM was an essential step in our commitment to making a distinctive contribution to the evolving energy sector in Africa. We are embarking on an exciting new phase, one that we approach with full confidence.”

From Left: Co-Founder & Executive Director of TAJ Bank, Sherif Idi, Jaiz Bank Managing Director/CEO, Haruna Musa, Founder, Managing Director/ CEO of TAJ Bank, Hamid Joda and Jaiz Bank Executive Director, North, Alhassan Abdulkarim during a courtesy visit of Jaiz Bank’s Management Team to the Headquarters of TAJ Bank, yesterday in Abuja.

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

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

• Source - CBN

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 29th September , 2023

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

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

T H I S D AY •WEDNESday, JANUARY 24, 2024

29

mARKET NEWS

‘FG Must Encourage New Listings to Boost Market Participation,Tax Revenue’

Kayode Tokede

The former President, Chartered Institute of Stockbrokers, (CIS), Mr. Olatunde Amolegbe, yesterday called on the Federal Government to encourage new listings on the nation’s bourse to boost capital market participation and generate tax.

Amolegbe highlighted companies in which the government had direct or indirect holding as well as

companies that did business with government.

This, he said, would not only deepen the capital market but would engender transparency and boost tax revenue in the country.

Amolegbe made the call at the Capital Market Correspondents Association of Nigeria (CAMCAN) January forum in Lagos with the theme: “Review of 2023 Market Performance and

P R I C E S MaiN Board

F O R DEALS

Outlook for 2024.”

He said as against over 50 per cent market capitalisation to Gross Domestic Product (GDP) as seen in many countries, Nigeria’s market capitalisation to GDP stands at 13 per cent.

“This is an indication that majority of the big companies in the country are not participating in the Nigerian capital market,” he said.

Amolegbe, who is the

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

quantity traded

Managing Director/Chief Executive of Arthur Steven Asset Management Limited, noted that the capital market ensures transparency for listed companies, stressing that increased listings would increase tax revenue for the government.

“I believe government needs to consider urging companies particularly those they have direct holding in and those that have huge business with

T R A D E D

value traded ( N )

MaiN Board

A S O F

government to list on the market. “A lot of businesses are not listed on the exchange and they do business a lot with government; the more transparent the listing, the more tax revenue,” he said.

Expressing optimism on the listing of Dangote Refinery and NNPC Limited, he said it would boost the capitalisation of the Nigerian capital market.

He also charged the government on the rising spate of

J A N UA RY DEALS

insecurity in the country saying until it is addressed, inflation would continue to soar and investor would remain wary of investing in the country.

“Insecurity is a major issue and government needs to work on it as it is disrupting supply chain and this contributing to the increase in inflation rate.

“Farmers are not unable to produce and the ones that can produce can’t get to market,” Amolegbe said.

/ 2 3 / 2 4 Market Price

quantity traded

value traded ( N)

30

T H I S D AY • WEDNESday JANUARY 24, 2024

Property & environment

NCF Institutes GRN Programme to Facilitate 25% Reforestation of Nigeria’s Landmass Bennett Oghifo The Nigerian Conservation Foundation (NCF), through its Green Recovery Nigeria (GRN) Programme to contribute and facilitate a reforestation scheme in 25% of Nigeria’s total landmass.

GRN is a 30-year Programme that will run from 2017 to 2047, while simultaneously promoting actions to curb further deforestation and forest degradation,

NCF said in a statement.

The GRN programme provides support activities that boost the livelihood of over 1000 Nigerians who live within the communities where 276,860 tree seedlings were planted in 2023.

These activities also include fuel-efficient cook stove training, provision of clean water, employment as ecoguards, tree nursery raising, enterprise development around

non-timber forest products and many others, NCF said.

“The livelihood support component of the GRN Programme is to reduce total dependence of communities on the forest; to reduce deforestation caused by fuelwood extraction, encourage conservation of wildlife, and prevent hideouts of criminals in the forest reserves,” they said.

Some of the beneficiary communities in the livelihood component include Iko Esai

and Becheve in Cross River; Ajingi in Kano; Guzape in Abuja; Awka Etti in Anambra, among others.

The tree planting exercise happened across the six geo-political zones of the nation. Economic trees planted include avocado, mango, cashew, orange; and timber trees like Gmelina and teak etc. The trees were planted in forest reserves, National Parks, community forests, secondary

schools, and tertiary institutions, among others.

NCF said the livelihood support and tree planting projects were made possible with the support of the German Government through the Nature and Biodiversity Conservation Union, Germany (NABU), Stanbic IBTC Holdings, Access Corporation, AFR100, Pernod Ricard Nigeria, International Labour Organisation (ILO), First Bank Nigeria Ltd, Brit-

ish American Tobacco Nigeria Foundation, ATC Nigeria Wireless Infrastructure Ltd, and many others.

“The Nigerian Conservation Foundation (NCF) is the foremost environmental NGO dedicated to nature conservation and biodiversity resource management for over 40 years. It has remained resolute in ensuring people live in harmony with nature,” the statement said.

FIT Group Partners Turkish Firm to Build First Medical City in Nigeria Ferdinand Ekechukwu Medical tourism will soon be a thing of the past in the country following the laudable partnership between FIT Healthcare Ltd, Nigeria and Lokman Hekim Health Group, Turkey to build one of a kind medical city in Enugu. The partners estimate that the entire city will commence full stream operation in early 2027.

Described as the first medical city with state-of-the-art facilities, the ongoing project will comprise a multi-specialty hospital with full diagnostic, treatment and trauma center, nestled in a community of hundreds of residential buildings. Some are already built and occupied in the HELIU Health Tourism District.

The support facilities features a hotel, schools, shopping malls,

cafes, and other top notch facilities on a 1.2 million square meter of land situated in Enugu state.

“FIT Healthcare Ltd 250-bed multi-specialty hospital will be supported by a 150-bed Hilton Hotel and other facilities in the midst of 1,000 residences.

“All located on a 1.2 million square meter of land, along the Enugu-Port Harcourt Expressway, about 8 km from Akanu Ibiam International Airport, Enugu, Enugu State,” a statement by the Nigerian partners said. They expressed optimism that its sustainability becomes a model for comparison in Africa and West Africa upon completion.

The statement said the project unveiling by the Finance, Investment and Trade (FIT) Group of Companies, the parent company of FIT Healthcare Ltd and the Turkish Health Group

was necessitated by the visit of the Turkish partners to Nigeria recently, which underscores the importance of building strong relationships required to make the project successful.

Speaking at a press briefing and partnership announcement of the two organisations, dedicated to delivering worldclass healthcare services to the Nigerian community, Chairman of FIT Healthcare Ltd, Dr. Mike Ileka, said the unveiling is very instructive, coming at this time Nigeria is going through some economic constraints.

He stressed that Lokman Hekim Health Group will share their wealth of knowledge and expertise which will help play a vital role in creating an ecosystem that prioritises patient care, innovation, community well-being in FIT Healthcare’s shared vision of a state-of-the-art

L-R: Foreign Relation & International Director Lokman Hekim Health Group, Mr. Hakan Susu; CEO Lokman Hekim Health Group, Mr. Alper Inceoz; CEO SANA Group, Mr. Alaa Alghadban; CEO FIT Group of Companies, Chief Loretta Aniagolu; Chairman FIT Hospitality, Mr. Victor Ogakwu; and Chairman FIT Healthcare Ltd, Dr. Mike Ileka, during the project unveiling and partnership announcement in Lagos… recently

medical tourism facility.

According to Ileka, “FIT Group of Companies, the parent company of FIT Healthcare Ltd is building the first medical city in Nigeria, and we are privileged to have Lokman Hekim Health Group, one of the largest private hospital groups in Turkey as technical partner and operator.”

Instructively, Lokman Hekim Health Group has Joint Commission International Hospital Accreditation, a certification that its operations meet world class safety and quality standards.

While FIT Group boasts of providing the structure and befitting location required to build a world class hospital project this kind.

Lokman Hekim Group is starting expansion into Africa from Nigeria, using three key areas of collaboration with the FIT Healthcare Ltd. One is the patient transfer which is the precursor to the operations of the hospital when it’s completed.

“But until then will operate the first two areas of collaboration which are patient transfer and training of healthcare in exchange programmes at the Lokman Medical University in Turkey.

“As we await the proposed project completion in 2027, FIT Healthcare and Lokman Hekim are currently making treatment easily accessible and affordable by referring patients to receive first class care at Lokman Health Group in Turkey.

“The patient transfer services are very important as this will enable the partners to build an understanding of the values, culture and hospital seeking

behavior of Nigerians, which will be helpful when our hospital opens for business in Nigeria.”

The FIT Group was established in 1992 but branched out into real estate and other areas in 2003 and is using its expertise to create purposebuilt communities, with their contractors in Nigeria, SANA Group charged with the hospital building.

“The Group is going to be the contractors to build the hospital by the time we are ready to start hopefully within the next three months,” the statement added. Lokman Hekim, CEO Alpher Incoez expressed delight at the partnership and looked forward to a mutually beneficial collaboration with the FIT team.

“Our consistent commitment, despite the heavy responsibilities of our regular jobs, is to devote time and energy to serve the friendly people of Nigeria.

I’m grateful for the hard work and dedication behind the partnership between the Lokman Hekim Health Group and FIT Health teams.

“I would like to express hope on the success of a seamless patient transfer and an esteemed pact of reference to build and operate the hospital system in Nigeria,” he said.

Acting CEO of FIT Healthcare Ltd, Chief Loretta Aniagolu spoke further on the HELIU Medical City project, highlighting the company’s shared goals and vision. “We have been excited to work with Lokman Hekim not just because they are big private healthcare company in Turkey but they also own the

University of Medicine.

“And therefore, our collaboration with them is instructive because their business model makes sense to us. They have about nine hospitals that they run; they are outside Turkey also in difficult areas like Iraq and somewhere and Iran. So we know if they can operate successfully in those places, then Nigeria should be a path walk we hope.

“Our vision ultimately with this medical city which is the first of its kind in Nigeria, that we are building in /Enugu, is to be the gold standard reference for healthcare services in West Africa. We not only hope to serve Nigerians, but we are hoping that a lot of West Africans who had to go through tortuous processes to get visas to go to India and somewhere can actually come to Nigeria without needing visas to come to this hospital to get treated.

“And therefore, meant we had to get a first-class hospital that provides world class services and willing to do so in Nigeria.

I think the story of the project is a conversation for another time but we have started. We have over 200 hundred homes because we had to build a community around the hospital.

“You don’t build a hospital in isolation. And since we had a large piece of 1.2square meters of bush, we had to create a community which is what we have done. People are living there now. And when you build the hospital, people will feel comfortable and you already have a captive audience by the time we finish the homes.

Peak Performer Business Network Celebrates 3rd Year in Grand Style Fadekemi Ajakaiye Peak Performer Business Network, popularly known as PPBN, a leading real estate network marketing group in Nigeria with over 5000 members worldwide celebrated their 3rd year anniversary with fun-fare and glamour in Lagos recently.

It was a night of honour, recognition, appreciation and awards for their members and leaders who did well for themselves by pushing loads of sales for the year 2023.

The glamorous event was graced by numerous dignitaries including managing directors and representatives of their partner real estate de-

velopment companies which include Zylus group MD, Dr. Oluwatosin Olatujoye, Ragnarock Group MD, Mr. Adebiyi Alex - Adedipe, Onebrick Investment Ltd MD, Mr Bayonle Lawal, MKH MD, Dr. Muibi Kehinde Hammed, representative of Highbridge Limited and Esther Udorji of Ace Royal Limited.

During the event, the president of the group, Amb Kazeem Yekinni after praising the members and the executives for a good performance during the year 2023 encouraged members to shun competition and embrace collaboration in order to achieve their goals for the year 2024.

According to the business

coach of the group, Coach Tomiwa Ogunremi, who shed light on the vision behind creating the group.

He said, PPBN is their way of contributing positively to the Nigeria economy by reducing the skyrocketing unemployment rate in the country through training, mentoring and creating a thriving environment for youths and adults to become top selling real estate consultants (realtors).

The group enjoins young Nigerians seeking new and extra sources of income to embrace entrepreneurial groups like theirs to beat financial hardships that are presently ravaging the country.

R-L: President, PPBN, Amb Kazeem Yekinni; Operation Manager, Mrs. Olanshile Davids; Real Estate Coach, Tomiwa Ogunremi; Secretary, Mrs. Abosede Akinwunmi; Amb Tayo Ogunrinde, Inspection Manager, Mr. Moshood Olaide; Welfare Manager, Mrs. Abiodun Ukpong; and The Group Coordinator, Mr Perry Oni at PPBN’s 3rd anniversary

31

T H I S D AY • WEDNESDAY, JANUARY 24, 2024

₦ ₦ ₦

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

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

B UA C EM EN T

163.35

10.0%

T ic k er T R A N SC OR P

77.7

-10.0%

SEP LA T

2795.10

10.0%

ST ER LIN GN G

72.3

-2.6%

D A N GC EM

651.80

10.0%

UB A

52.7

-3.1%

ET ER N A

27.70

9.9%

A C C ESSC OR P

47.2

-1.5%

M EYER

3.56

9.9%

Z EN IT H B A N K

32.0

-4.4%

T R IP P LEG

2.58

9.8%

J A IZ B A N K

31.4

-10.0%

P R EST IGE

0.61

8.9%

VER IT A SKA P

30.7

-10.0%

UP D C

2.05

8.5%

ET ER N A

27.9

9.9%

D A A R C OM M

0.94

8.0%

F ID ELIT YB K

26.0

0.0%

IM G

14.40

7.5%

GT C O

20.0

-3.5%

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 T ic k er

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

M B EN EF IT

0.72

-10.0%

D A N GC EM

3108.5

10.0%

PZ

31.50

-10.0%

UB A

1579.9

-3.1%

-10.0%

A C C ESSC OR P

1352.8

-1.5%

Z EN IT H B A N K

1343.9

-4.4% -10.0%

VER IT A SKA P

0.63

M A YB A KER

7.38

-10.0%

J OH N H OLT

2.70

-10.0%

T R A N SC OR P

1291.6

T IP

2.52

-10.0%

M TNN

883.3

1.3%

D EA P C A P

0.81

-10.0%

GT C O

843.0

-3.5%

T R A N SC OR P

16.39

-10.0%

ET ER N A

749.9

9.9%

J A IZ B A N K

2.80

-10.0%

ST ER LIN GN G

485.7

-2.6%

WEM A B A N K

9.77

-10.0%

FB NH

429.4

-2.8%

32

T H I S D AY • WEDNESday JANUARY 24, 2024

Education

Crisis Looms at Federal University of Health Sciences Over VC, DVC’s Disagreements Community members and staff of the Federal University of Health Sciences, Otukpo, Benue State, have expressed concern that the face-off between the vice-chancellor and deputy vice-chancellor could affect the smooth running of the three-year-old institution while calling for the urgent intervention of the ministry of education and other relevant authorities. Uchechukwu Nnaike reports

N

ewly established institutions usually face teething challenges such as inadequate funds, an uncommitted workforce, low staff turnover, and loyalty issues. But it takes the determination, cooperation, and resilience of the leaders to overcome the challenges and stand firm. Contrary actions could destabilise the system and stall progress.

There is an imminent crisis at the recently established Federal University of Health Sciences, Otukpo (FUHSO), Benue State, following the misunderstanding between the Vice-Chancellor, Prof Innocent Ujah and the Deputy Vice-Chancellor (administration), Professor Ediga Agbo, which culminated in a memo relieving the deputy vice-chancellor of his duties.

The letter, dated December 22, 2023, with the title ‘RE: Renewal of Appointment as the Deputy Vice-Chancellor (Admin), was signed by the Registrar, Mallam Aminu Abba.

The letter stated, “The deputy vice-chancellor (Admin) may please recall that his appointment as the deputy Vice-Chancellor was renewed on 29 November 2022, with effect from 2nd October 2022. The position of deputy vicechancellor is to assist the vice-chancellor in the day-to-day smooth running of the university.

“The vice-chancellor has observed that he is no longer getting total cooperation from you.

Therefore, he can no longer work with you as the deputy vice-chancellor (administration).

In view of the above, your service as the deputy Vice-Chancellor is no longer required with effect from Friday, 22nd December 2023.”

In a swift response dated December 24, 2023, the deputy vice-chancellor, while acknowledging the memo, said the registrar would have advised the vice-chancellor against it because it completely summarises the entire problem of the institution, “which is the fact that we are operating with extremely limited knowledge of university administration.”

Agbo refuted the claim in the memo that the vice-chancellor is not enjoying total cooperation from him, saying, “Let me state unequivocally that the vice-chancellor is receiving my full cooperation. My job is to assist him in running the university, as was made clear in your memo. I am doing that. However, I cannot compel him to accept my input into everything he does as Chief Executive Officer (CEO) of the university.”

He stressed the need to draw the vicechancellor’s attention when he observed that some actions were improper.

“There have been quite a handful of such situations, and because I had to point out the errors in those actions, it has come to appear that he is not receiving my cooperation, even though I mean very well for him and the university with every sense of responsibility and fairness.”

Questioning the appropriateness of the action against him, he cited Schedule 4 (6) of the FUHSO Act, 2020, which states: “The deputy vice-chancellor(s) may be removed from office by the council, acting on the recommendation of the vice-chancellor and senate.”

“Even though I cannot force myself on the vice-chancellor as a deputy to him, there is something called the principle of fair hearing. I find your memo very humiliating and completely injurious to my fundamental rights as both a human being and an accomplished academic.

“I do not believe that the vice-chancellor has the powers to summarily remove a deputy vice-chancellor without a proper process.

But that is and has been the only point of departure between the two of us and which he has come to describe as ‘not receiving total cooperation’ today.”

Agbo claimed that the vice-chancellor does not operate with recourse to any laid down norms and operates his own personal laws while treating the university like a personal estate.

The deputy vice-chancellor also regretted that the university had existed for about four years under the leadership of the vice-chancellor. “There was a governing council in place for over three years. We did not take advantage of this to make a statute stipulating our conditions of service.

In the absence of such a document, we have operated without any organised guidelines, and the whims of the vice-chancellor have

University gate basically driven our actions.

“Most of the time, what we do is completely alien to established university norms. It is because I do not agree with such actions, most of which amount to illegalities, that I am now seen as not giving total cooperation,” he said.

For instance, he claimed that since the establishment of the university, they have never sat as principal officers to make a plan and assign responsibilities for themselves.

“Personally, I have been operating with the knowledge of how a university is run from the experience I brought with me. In fact, remember that I pointed out that as principal officers, we had had only three meetings for which we have never seen any minutes. There is no document anywhere, official or unofficial, where any specific duties have been assigned to me. He micromanages everything.

The vice-chancellor is very secretive about matters, and most of the time, we get to hear about some activities from the rumour mill, and we are left stammering while trying to respond to questions without displaying our ignorance.”

According to Agbo, well-run universities operate on three committee systems: council committees, management committees and senate committees, but “in almost four years of existence, we are yet to fully organise. The former council chairman forced the council committees at the last meeting (after three years of council existence) before the council was dissolved.

The vice-chancellor immediately discarded them, particularly the one charged with the responsibility to produce conditions of appointment and promotions for which he is the chairman.”

He also claimed that the institution does not have an approved document specifying the conditions of service. “In other universities, that document is driven and produced from the office of the deputy vice-chancellor, administration in consultation with all stakeholders before being put before management and eventually considered by other organs of the university for approval of both senate and council.”

The DVC also claimed that the vicechancellor appointed staff to the professorial cadre and confirmed them without recourse to any instrument.

“He knows I have never supported the appointments which he went ahead to announce to an emergency senate session that he had secured confirmation for.

“He alone knows the instrument he gave the assessors to use for assessing the candidates because FUHSO does not have any. No prima facie cases were established for any of the staff. Apart from the interview that they attended, there was never a time that we sat to consider the results of the interview. So, the vice-chancellor constituted himself into departmental appointments and promotions committee, prima facie committee, central appointments and promotions committee, council appointments and promotions committee and confirmed the appointments. If he sought the approval of the minister of education to confirm the professors on behalf of the council, it means the minister was deceived. It is doubtful that the minister was consulted to approve on behalf of the council.”

“Moreover, appointment or promotion of staff to professorial cadre is neither a matter of senate nor emergency. The vice-chancellor himself went through the process of being promoted to a professorial rank, so he cannot be ignorant of the proper process. On my part, I remain opposed to it,” he said.

Agbo stated that the vice-chancellor repeated the same process on December 7, 2023, when he, without prior notification, invited principal officers to come and sit on

If in trying to point out to him politely that his actions are at variance with established university norms and do not portray FUHSO as a well-run system, I am construed as not being loyal or not giving total cooperation, I can only offer my most sincere apologies without deviating from the side of truth and the interest of FUHSO. I will not rubbish the fact that I am a properly appointed and experienced professor of over 20 years. If he was being loyal to the system, we would be in tandem, and there would have been no conflict

a promotion exercise that was completely alien to university norms.

“He wanted us to just interact with some staff (both junior and senior staff) and then approve their promotions. No Annual Performance Evaluation Reports (APER), no recommendations from their immediate supervisors, no curriculum vitae, and no confidential files of the staff. As far as I am concerned, it is because I objected to that process and subsequently left before the exercise commenced because he verbally insulted me, and he has now come up with the accusation that he is not getting total support from me.

“Of course, he has my support always, and I will continue to support him. But I cannot support illegality. I am not called to support illegality. We (FUHSO) are gradually becoming the butt of jokes around town because of how the university is run and particularly because of our appointment criteria,” the DVC said.

He added that the vice-chancellor operates a highly secretive process whereby no major plans of the university are discussed till they have been set in motion.

“Projects are considered by the Tenders Board (which is basically a carefully selected family and friends group) and then on to execution. None of his deputies is privy to what he does about capital projects.”

While reaffirming his loyalty to the vicechancellor, Agbo, however, said that where loyalty to both the vice-chancellor and the system is at variance, he must choose to be loyal to the system because the system will outlive both of them, and posterity will remember them for how they comported themselves.

“Therefore, if in trying to point out to him politely that his actions are at variance with established university norms and do not portray FUHSO as a well-run system, I am construed as not being loyal or not giving total cooperation, I can only offer my most sincere apologies without deviating from the side of truth and the interest of FUHSO. I will not rubbish the fact that I am a properly appointed and experienced professor of over 20 years. If he was being loyal to the system, we would be in tandem, and there would have been no conflict.”

He reiterated that that memo is heavily flawed and that he remains the deputy vicechancellor of administration until a governing council says otherwise or the minister of education says otherwise on behalf of the council.

Meanwhile, a source at the university told THISDAY that the university is gradually heating up due to the VC’s high-handedness, adding that staff members do not support his management style. But anyone who tried to oppose or correct him during meetings would be insulted and sent out of the meeting.

The source revealed that the Executive Secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono, intervened after the DVC’s response. He was said to have told the vice-chancellor that he had no power to sack the DVC without the consent of the council and senate and advised him to withdraw the memo.

The university source stated that the deputy vice-chancellor has resumed his duties. But the memo sacking him has not been withdrawn because the vice-chancellor has not directed the registrar to do so.

He called for a proper investigation into the activities of the vice-chancellor, especially the alleged manufacturing of fake professors.

However, in a telephone conversation with THISDAY, the university’s spokesperson, Mr. James Onogwu said the matter has been resolved and settled administratively.

When asked about the allegations against the vice-chancellor, he said: “As a matter of fact, there is nothing of that nature, you know very well that if you are angry you can say anything.”

Onogwu pointed out that the vice-chancellor has held several public offices and cannot engage in the activities as alleged, and reiterated that the problem is over, and that both parties are back as a family.

When this reporter requested for an official statement, he declined, saying that it is private for now, “but the most important thing is that the two parties are back as usual to their normal positions.”

33

T H I S D AY • WEDNESDAY, JANUARY 24, 2024

NEWS

Five-day training on revenue systems audit...

L-R: Director Admin and Human Resources, Office of Internal Audit, Mrs. Modupe Animashaun; Special Adviser to the Governor of Lagos on Taxation and Revenue, Mr. Abdulkabir Ogungbo; Special Adviser on Internal Audit, Dr Oyeyemi Ayoola; Permanent Secretary, Office of Internal Audit, Mrs Kikelomo Dawodu and Executive Director JHJD Consulting, Mr Louis Opiah, at the opening ceremony of the Lagos Internal Audit 5-Day training on revenue systems audit of non-tax internally generated revenue, in collaboration with University of Calgary, Alberta Canada, in Lagos… on Monday.

EFCC to Arraign Ex-Gov Obiano Today over Alleged N4bn Fraud

Kingsley Nwezeh in Abuja

The Economic and Financial Crimes Commission (EFCC) will arraign the immediate-past Governor of Anambra State, Willie Obiano, before Justice Inyang Ekwo of the Federal High Court, Abuja today (Wednesday) over alleged money laundering to the tune of N4,008,573,350.

The former Anambra State chief executive will be arraigned on ninecount charges. Obiano was believed to have been taken into custody at the headquarters of the commission in Abuja.

Chairman of the EFCC, Ola Olukoyede, declared last week that he would review all abandoned high-profile cases, especially those involving former governors and ministers.

A source at the EFCC said Obiano moved his security votes into different accounts using his former principal private secretary.

“We found that Obiano moved N4,008,573,350 from security votes into different accounts. The money at various times was changed into dollars and returned to Obiano by cash,” the source said.

Dangote Refinery Confirms Registration of Distributors for Its Products

Emmanuel Addeh in Abuja

The Dangote Refinery yesterday confirmed the registration of three oil marketers’ associations for the distribution of its fuels, mainly diesel and aviation fuel for now.

The company which disclosed this in a post on X, said the distribution groups involved constitute 75 per cent of the total market in the country.

According to Dangote refinery, the three associations so far listed as distributors include: “The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), the Independent Petroleum Marketers Association of Nigeria, (IPMAN), and the Major Oil Marketers Association of Nigeria (MOMAN).

“Three prominent associations, that constitute 75 per cent of the total market in Nigeria have been registered...And we are also considering other marketers that have signified interest,” the company noted.

Located near Lagos, the Dangote refinery commenced operations last December with 350,000 barrels of oil a day, after receiving an initial 6 million barrels of oil from the Nigerian National Petroleum Company Limited (NNPC) and its partners.

The products from the muchawaited largest single-train refinery in the world, excluding petrol, are expected to hit the market within this January, barring any unforeseen circumstances.

EFCC’s lead counsel, Sylvanus Tahir (SAN), will lead eight other lawyers in the trial of the former governor Some of the charges against Obiano include: “That you, Chief Willie Maduabuchi Obiano, whilst being the executive governor of Anambra State of Nigeria between March 2014 – March 2022, sometime between 7th February, 2018 to 18th February, 2019 in Abuja, within the jurisdiction of this Honourable Court, indirectly transferred through Mr Willie Nwokoye, your then principal private secretary, the sum of N156,800.00 only from the Anambra State Government Security Vote Account No: 5030050875. “(This account) is domiciled in

Fidelity Bank PLC into the Fidelity Bank Account No: 6060018819 belonging to C.I. Patty Ventures Nigeria Limited (an entity that had no business relationship with the Anambra State Government), which funds were dissipated for purposes unrelated/unconnected with the security affairs of Anambra State. “ You reasonably ought to have known that such funds formed part of the proceeds of your unlawful act, to wit: (stealing and corruption) and you thereby committed an offence contrary to Section 15 (2) (b) of the Money Laundering (Prohibition) Act, 2011 (as amended) in 2012 and punishable under Section 15 (3) of the same Act,” one of the charges read.

It added: “That you, Chief Willie Maduabuchi Obiano, whilst being the executive governor of Anambra State of Nigeria between March 2014 — March 2022, sometime between 9th August, 2017 to 4th March, 2020 in Abuja, within the jurisdiction of this Honourable Court, indirectly transferred through Mr Willie Nwokoye, your then principal private secretary, the sum of N261,268,585.00 only from the Anambra State Government Security Vote Account No: 5030050875. “(This is) domiciled in Fidelity Bank Plc into the Fidelity Bank Plc Account No: 5600062873 belonging to Easy Diamond Integrated Link (an entity that had no business relationship with the Anambra State

ECOWAS Launches Japan-funded App to Boost Creativity in West Africa Michael Olugbode in Abuja

AfricDeezayn application has been officially launched in West Africa to provide a virtual online space for designers in the sub-region to showcase their creativity and talent and interact as a community.

The project, which is a creation of the Economic Community of West African States (ECOWAS), is supported by Japan and the World Intellectual Property Organisation (WIPO).

Speaking at the launch in Abuja yesterday, the ECOWAS Commis-

sioner for Economic Affairs and Agriculture, Mrs. Massandje ToureLitse said AfricDeezayn the digital tool will enable talented designers in West Africa to contribute to the region’s industrial development by stimulating innovation.

Toure-Litse, who was represented

by Dr. Anthony Elumelu, said the app goes beyond visual appearance to include usability, ergonomics, accessibility and other aspects.

She noted that AfricDeezayn application developed in collaboration with WIPO and funded by Japan is closely aligned with the

vision of ECOWAS to promote technological innovation, job creation and creation of an appropriate environment which will lead to wealth and economic and social progress.

She said the project was in line with ECOWAS commission’s aim of promoting sustainable and inclusive agricultural, industrial and intellectual productivity.

“This is an opportunity for us to call on the private sector players in our region, particularly those in the design community to take ownership of this tool

Ibadan Explosion: Oyo Monarchs Back Makinde over Fight Against Illegal Mining Kemi Olaitan in Ibadan Traditional rulers from across the five geopolitical zones of Oyo State, yesterday, declared their support for the state government in its fight against illegal mining in different parts of the state.

The monarchs spoke while addressing journalists at the press conference room of the governor's office shortly after a closed door meeting with the governor.

The Olugbon of Orile Igbon, Oba Francis Olusola Alao, while speaking on behalf of the monarchs, lauded Governor Seyi Makinde for what he described as his "swift response" to the

explosion that rocked Ibadan last week while also commiserating with the victims.

Other traditional rulers in attendance include the Soun of Ogbomoso, Oba Ghandi Olaoye, Olubadan of Ibadanland, Oba Lekan Balogun who was represented by Oba Tajudeen Ajibola and Oba Hamidu Ajibade; the Aseyin of Iseyin, Oba Sefiu Oyebola and the Okere of Saki, Oba Khalid Oyeniyi Olabisi.

Others are the Onpetu of Ijeruland, Oba Sunday Oyediran; Olu of Igboora, Oba Jimoh Olajide Titiloye and Akibio of Ilora, Oba Steven Oyeniyi; Iba of Kisi, Oba Moshod Lawal; Bashorun of Oyo, High Chief Akinade Ayoola and

Government), which funds were dissipated for purposes unrelated/ unconnected with the security affairs of Anambra State. “ You reasonably ought to have known that such funds formed part of the proceeds of your unlawful act, to wit: (stealing and corruption) and you thereby committed an offence contrary to Section 15 (2) (b) of the Money Laundering (Prohibition) Act, 2011 (as amended) in 2012 and punishable under Section 15 (3) of the same Act.” When contacted, spokesman of the EFCC, Dele Oyewale, confirmed that Obiano will be arraigned on Wednesday. "Yes. He will be arraigned tomorrow (Wednesday)", he said.

Onilala of Lanlate, Oba Sunday Oladejo.

It would be recalled that the Tuesday explosion which rocked Dejo Oyelese Street, Adeyi Area, Old Bodija, Ibadan left in its trail, five fatalities, and property worth hundreds of millions destroyed, among others.

Preliminary investigations fingered dynamite stored up by illegal miners as the immediate cause of the explosion.

While commiserating with the governor and the people of the state, the monarchs said they have resolved to deepen their support for the state government in terms of communication and sharing of intelligence in order to curb

the menace of illegal mining in the state.

Oba Alao lauded the governor for being proactive in his approach to disaster management most especially in the recent explosion that has left some dead and many injured, adding that the traditional rulers swung into action after the incident of the Ibadan explosion and have identified critical areas that require urgent supportive attention.

He listed the identified areas to include security lapses, medical and humanitarian challenges, noting however, that Governor Makinde has already put measures in place to address them adequately and that the monarchs

were proud of the governor.

He said, "We've been able to identify three tracks. First is the issue of some security lapses, medical and humanitarian challenges. All these three tracks, the governor has put adequate measures in place to address them.

"Also, he has briefed us on how he has been working in collaboration with the federal government, to be precise, the president of Nigeria. The federal government has sent relevant agencies to liaise with the state government in order to mitigate the damage and try as much as possible to do their best to cushion the effects of the explosion.

and use it as a potential vector for innovation and improved productivity,” she said.

On his part, the Senior Director, Department for Trademarks, Industrial Designs and Geographical Indications (DTIDGI), Brands and Designs Sector (BDS), WIPO, Mr. Marcus Hopperger, said the app is a bridge between the people at the core of WIPO’s institutional efforts.

“We represent organisations committed to promoting IP as a tool for development and growth.

AfricDeezayn opens to us the virtual world of communication.

“It is helping our outreach to key stakeholders of the design ecosystem - designers, small and large businesses, IP practitioners and agents, the academe, women and youth groups - to more effectively address their information needs so that IP rights over designs are protected and the resulting benefits are fully enjoyed by their creators,” he said.

He added: “AfricDeezayn does more than inform. It also shares the stories of many designers, whether young and mature entrepreneurs – their struggles and rewards, their aspirations and journey.“ Japanese Ambassador to Nigeria, Mr. Matsunaga Kazuyoshi said AfricDeezayn will create great opportunity for development in West Africa, noting that with resources like AfricDeezayn, designers in the ECOWAS region can achieve great wealth.

34

WEDNESDAY, JANUARY 24, 2024 • T H I S D AY

NEWS

NCAA Interaction with aviation correspondents...

L-R: Director Finance and Account, Nigeria Civil Aviation Authority (NCAA), Mr. Olufemi Odukoya; Director Legal Services, NCAA, Mrs. Mary Tufano; Director, Air Transport Regulation, Mrs. Olayinka Babaoye; acting Director General, NCAA, Captain Chris Najomo; Chairman, League of Airports and Aviation Correspondents. Mr. Olusegun Koiki; Director, Aerodrome and Airspace Standards, NCAA, Engr. Godwin Balang; and Director Human Resource and Admin, NCAA, Dr. Mrs. Anastasin Gbem, and others during the acting Director General of NCAA's interaction with aviation correspondents at PHOTO: KOLAWOLE ALLI. NCAA Annex, Murtala Muhammad International Airport, Ikeja, Lagos...yesterday

Court Strikes Out Suit Seeking to Declare Seats of 25 Rivers Lawmakers Vacant Blessing Ibunge in Port Harcourt

A Rivers State High Court in Port Harcourt has struck out a suit seeking to declare the seats

of the 25 lawmakers of the State House of Assembly, who defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), following a misunderstanding between

Governor Siminalayi Fubara of the state and the Minister of Federal Capital Territory (FCT), Nyesom Wike.

The suit registered with number PHC/61/CS/2024 before Justice

Chinwendu Nwogu and filed by 10 members of Rivers Elders Forum, also asked the court to interpret if the eight point agenda of President Bola Tinubu on the Rivers political saga in December

Kano Police Averts NNPP, APC Clash, Warns against Inflammatory Statements Ahmad Sorondinki in Kano =The Kano State Police Command, has averted a violent clash between supporters of the New Nigerian People's Party (NNPP) and the All Progressives Congress (APC) in Kademi town, Gaya Local Government Area of the state.

There was a free for all between the two groups that led to the destruction of properties while some people sustained various degrees of injuries.

In a meeting with some members of the groups at Gaya local government, the Commissioner of Police, Usaini Gumel, lamented

how the two groups continued to make mockery of each other with slogans in various platforms.

He condemned the way and manner some party supporters were fond of causing trouble through their utterances and use of provocative political songs and warned that the police would not fold its arms and allow people to continue engaging in such acts.

Addressing the opposing groups, Gumel said, "Habibu was playing his political songs while Alkasim, who was not pleased with the music, attacked and destroyed the musical instrument, leading to bloodshed between supporters

of the two political parties.

"We are here to ensure that peace prevails in the area because the time has gone when people should be fighting each other. No state is peaceful like Kano and want to ensure the state remains so," the CP said.

The commissioner also spoke during a courtesy call at Emir of Gaya's Palace, where he called on the people of the area to give the traditional ruler all the necessary support and cooperation to ensure peaceful coexistence in the area.

In his response, the Emir of Gaya, Dr. Aliyu Ibrahim Gaya, said the Emirate Council had summoned

Police Deny 16 PDP Lawmakers Access to Plateau Assembly Seriki Adinoyi in Jos

Armed policemen, yesterday, denied the 16 Peoples Democratic Party (PDP) members of the Plateau State House of Assembly, who were sacked by the Court of Appeal.

The House has been on recess since December, and sitting had been moved to the old Government House, Rayfield, because the state assembly complex was under renovation.

The lawmakers had arrived at the Rayfield Government House yesterday morning alongside their supporters preparatory to the resumption of plenary when the Police and other security agencies took over the premises insisting that the sacked lawmakers could not be allowed access into the legislative

chambers.

However, the eight lawmakers (seven APC members and one YPP member) who were not affected by the Court of Appeal judgment were allowed into the chambers.

Addressing journalists after exiting the chamber, Speaker of the Assembly, Gabriel Dewan, said, “You will recall that on November 22, 2023, the Plateau State House of Assembly went into recess and adjourned to resume on January 23, 2024.

“And today as you can see, we are back to resume our legislative duties officially. I pray God almighty will take control within the new year and we are ready to give the government of President Bola Tinubu and the Executive Governor of Plateau state, Caleb Mutfwang

all the needed legislative support.

“I’m not a law interpreter, we are lawmakers. I received a court process regarding the issue. I can say that at the moment, we have 16 vacancies at the state House of Assembly and there are court processes over this. As I talk to you, we have 32 members laying claim to the 16 vacancies in the Assembly.

“And like I said, we are lawmakers and not law interpreters. So, we’d allow the institution saddled with the responsibility of interpretation to interpret the law.

“So, in due course, we will feed the public with the next line of action but for now, we have only eight House of Assembly members until the determination of the court process.”

those involved in the recent crises that erupted in Kademi town.

"We are not happy with what happened, we are taking serious measures against the barbaric actions between people of the same area, maybe the same family," he said.

The Emir also accused some District Heads and all other leaders of refusing to act on the perpetrators of violent activities, watching them helplessly.

18, 2023 was constitutional.

Also that "whether the decision or directives or resolution at the purported meeting of the defendants at Aso Rock, Abuja,on December 18, 2023, that the members of the Rivers State Executive Council, who voluntarily resigned from their portfolios as commissioners should be resubmitted to the House of Assembly for approval, is constitutional and valid.

"Whether the decision/ resolution under the directives of the 1st defendant aforesaid that the 2nd defendant should represent the budget of the Rivers State already presented to the 4th defendant and duly debated and properly assented to as a law can be lawfully and constitutionally represented for the purpose of being debated and repassed."

Parties in the matter included Chief Anabs Sara-Igbe, Dr. Kalada Iruenabere, Chief Marcus Atata, Chief Nwankwo Sunday, Cletus

Zorbo-Or Nadukoro, Asigbor Lede, Michael Aloega, D Allen Abbi, Johnson Ogbodu and Mina A.K. Hart, for claimants.

While the defendants were President Bola Tinubu, Governor Siminalayi Fubara, Hon. Martins Amaewhule (for himself and other 24 state lawmakers), Rivers State House of Assembly and the Peoples Democratic Party (PDP), Chief Anabs Sara-Igbe, was one of the litigants in the matter.

Ruling on the Exparte application, yesterday, Justice Nwogu said his court lacked jurisdiction to hear the matter, and mentioned that similar matter was given judgement at a federal high court presided by Justice James Omotosho in Abuja.

Justice Nwogu also ruled that since President Tinubu was a party in the matter, the case should be transmitted to a higher court with jurisdiction to entertain it. He, therefore, struck out the suit for lack of jurisdiction.

Edo 2024: No Aspirant Has Been Disqualified, Says APC Adibe Emenyonu in Benin City The Edo State Chapter of the All Progressives Congress (APC), yesterday, said no aspirant has been screened or disqualified from the governorship race.

A six-man committee led by the House of Representative member representing Owan federal constituency of Edo State, Prof.

Julius Ihonvbere, was set up last monday to look into ways to prune the number of aspirants from 29 to a manageable number.

After the committee met with the aspirants, report emerged that the committee has screened the number of aspirants first to 10, later six and finally four, a developmental which has started to cause rancour and tension in the party.

But debunking the report, the Publicity Secretary of the party in the state, Peter Uwadiae, said the Ihonvbere committee was an advisory one and not a screening

committee.

He said the committee was to meet with aspirants and see how the numbers could be pruned down so that the primary election that would hold in February would be free of rancour.

"There is no truth in the news making the rounds that governorship aspirants have been screened and about 25 have been disqualified.

“Based on the advice of the National Working Committee of the party, we set up a committee led by Julius Ihonvbere to interface with the aspirants on the need to reduce the number of aspirants to a manageable one. It is after the close of sale of forms that the NWC will set up a screening committee.

"The Committee also advised the Edo APC to be in a talking relationship with the aspirants so that those who know they cannot go all the way can exit the race.

So no aspirants has been screened and disqualified," he added.

The Edo APC image maker also said the sale of the expression form, which cost N10 million and the nomination form, which was N40 million was on sale for anyone who wanted to vie for the governorship position on the platform of the party, noting that more aspirants were expected to join the race He, however, said many of the aspirants were seeing reason why they should not purchase the forms while others were still eager to test their popularity at the primaries, noting that those who lose at the primaries have promised to stay and work for the party in the election.

Uwadiae said the party was going to the polls to win, urging members and supporters not to get agitated as the party believes in unity, fair play and democracy while also urging party faithful not to allow the situation to cause rancour and disaffection among them, which could rub off on the party negatively at the polls.

35

T H I S D AY • WEDNESDAY, JANUARY 24, 2024

NEWS

NEPC 2023 REPORT OF NON-OIL EXPORT IN NIGERIA...

R-L: Chairman, Commerce and Industry Correspondents Association of Nigeria (CICAN), Ifeanyi Onuba: Chief Executive Officer, Nigerian Export Promotion Council (NEPC), Mrs. Nonye Ayeni; Director, Export Development, NEPC, Mrs. Evelyn Obidike and Director, Corporate Services, NEPC, Mr. Samuel Oyeyipo, during the presentation of the NEPC 2023 Progress Report of Non-oil export sector in Photo: ENOCK REUBEN the Nigeria Economy in Abuja...recently

Yakubu: INEC Worried over Prevailing Insecurity Ahead February 3 By-elections Adedayo Akinwale in Abuja Ahead of the by-elections scheduled to hold on February 3, 2024, the Independent National Electoral Commission (INEC), has expressed concern over the prevailing insecurity in some states and it impacts on the conduct of the elections.

INEC Chairman, Prof. Mahmood Yakubu, stated this yesterday in Abuja at a meeting of the Interagency Consultative Committee on Election Security (ICCES).

He lamented that the prevailing insecurity had been made worse by incendiary statements by some political actors.

Yakubu recalled that in his remarks at the Commission’s extraordinary meeting with leaders of political parties last month, he reported that the elections affected

35 national and state constituencies.

"Since then, four additional orders of the Court of Appeal have been served on the Commission in respect of Yabo/Shagari Federal Constituency of Sokoto State, Madara/Chinade State Constituency of Bauchi State as well as Kudan and Kauru/Chawai State Constituencies of Kaduna State.

"This brings the total number of affected constituencies to 39, which translates to 2.6% of the 1,491 Constituencies for which elections were conducted nationwide in the 2023 general election. The nine byelections are fresh elections covering the entire constituencies," he said.

Yakubu noted that with the exception of three Constituencies (Plateau North Senatorial District and Jos North/Bassa Federal Constituency in Plateau State and Kachia/Kagarko

Federal Constituency in Kaduna State), the re-run elections were to be held in a few polling units.

He said in some cases, only one polling unit was affected in an entire federal or state constituency.

The chairman said their task as members of ICCES was to ensure

The Managing Director of Nigeria’s oldest carrier, Aero Contractors, Capt. Ado Sanusi has said that domestic airlines should stop funding aviation parastatals to enable them have funds to boost their operation and ensure their survival and profitability.

Sanusi said multiple taxations erode their revenue and capitalisation and make it extremely very difficult for the airlines to make profit.

He listed some of the charges to include: Passenger service charge, terminal charge, landing and parking, overflying charge, 5 per cent ticket sales and cargo sales charge and navigational charge, in addition to other taxes.

He said it is why Nigerian airlines have average of 10 years life span, noting that while there are many registered commercial airlines, only very few are currently operating and many of the existing ones lack capacity.

He suggested that the federal government should find other ways to fund the agencies in addition to the revenue they could generate from general aviation and international operations.

He insisted that as long as the airlines pay these multiple charges, they would not grow to become mega carriers.

Sanusi emphasised that because of the critical role airlines play as catalysts to any nation’s economy, government must provide airlines support for them to be sustainable and continue to provide critical services to the country.

“Why is it that Nigerian airlines don't last long? We have studied the problems. We know the problems, but we have not tackled them. We have changed the names of the airline several times, but we have not removed the problems and the challenges that are facing the airlines.

“Without those challenges solved, if you register a new airline today it is still going to face the same challenges that have been there for years. If we want to have successful airlines in Nigeria, we must solve those problems.

“We must face the multiple taxation. We must face the fiscal challenges encountered by airlines that have been funding these parastatals. We must look at the basics. We must look at what we have been doing for years and have not been getting positive results. “ There is no way we can have any change if we do not tackle the problem from the beginning.

There is no way the airlines will fund the parastatals and they make profit.

States, Local Government Areas, Registration Areas/Wards and Polling Units.

Yakubu said the commission has also provided the number of registered voters and Permanent Voters’ Cards (PVCs) collected in each Polling Unit, adding that the

same information would be shared at this meeting with other members of ICCES. He stressed that the updated information would also be uploaded to the Commission’s website and social media platforms for public information.

Ogun Assembly Impeaches Speaker, Elects New One James Sowole in Abeokuta The Ogun State House of Assembly, yesterday, impeached its speaker, Hon Olukunle Oluomo, representing Ifo II State Constituency, and immediately elected a new one, Hon Oludaisi Elemide, from Odeda State Constituency.

Nigerian Airlines Must Stop Funding Aviation Parastatals to Ensure Survival, Profitability

Chinedu Eze

security for the elections.

According to him, “For this reason, the Commission has already provided to the Nigeria Police Force, as the lead agency in election security, the full information of the locations, where the elections will be held broken down by

“So the airlines are struggling.

The parastatals are struggling.

And we intend to have a viable aviation industry. It's not possible.

So there must be an intervention by government somewhere. There must be a change, a paradigm shift, from what we have been doing, from thinking that the airlines should fund the parastatals, the taxations that the airlines are having.

“We must also move from the same notion that airlines are high-profit organisations,” he said.

The Aero Contractors boss said 90 per cent of airlines that are doing well in the world today are either state-owned or they have major state interest. This is because airline business is capital intensive so, government’s support of airlines would enhance capitalisation and protection.

“But in this country the moment you start, the first day you start flying that is the first day you start paying the multiple taxes that you are supposed to pay. In fact, before you start flying you will be paying taxes, you will be paying for inspection you will be paying for licences of aircraft,” he lamented.

He called for encouragement for companies that have good corporate governance and a proper board.

The impeachment of Oluomo, was endorsed by 18 out of the 26 lawmakers of the Assembly at a plenary presided by the Deputy Speaker, Hon Bolanle Ajayi, representing Yewa South Constituency.

The Clerk and the Deputy Clerk, Mr Deji Adeyemo and Mrs Funmilayo Adeyemi, were at the plenary during the exercise.

Also, security personnel, including the police, and the Nigeria Security and Civil Defence Corps, took positions within the premises of the Assembly.

The motion for removal of Oluomo, was moved by an All Progressives Congress (APC) legislaator, Hon Adegoke Adeyanju, representing Yewa North 1

State Constituency the motion, seconded by Hon Ademola Adeniran, representing Sagamu II State Constituency, also an APC lawmaker.

It was gathered that the former speaker, was attending the swearing-in of new judges in the state at the State Cultural Centre, in Abeokuta, when he was impeached.

Speaking to newsmen after his election as the new Speaker, Elemide explained that the people of the state should expect the best from him.

"We are law abiding legislators.

We want the world to know that there has been changed in leadership.

"18 members signed for me

to be the Speaker. People should remain calm. We are in custody of all the authority of the House. We are saying that the new leadership will support the governor,” he said.

He, however, clarified that Governor Dapo Abiodun knewnothing about the impeachment.

Hon. Damilola Soneye, representing Obafemi Owode State Constituency, noted that the office of the Speaker was to be first among equals.

"The Speaker was impeached due to gross misconduct which bothers on high handedness, lack of focus and transparency, arrogance and poor leadership style, financial misappropriation and inciting members against themselves," he said.

Sowunmi Drags Damagum, Other PDP Leaders to Court over NEC Meeting Chuks Okocha and Alex Enumah in Abuja

A former aide to ex-Vice-President Atiku Abubakar, Otunba Segun Sowumi, has dragged the acting National Chairman of the Peoples Democratic Party (PDP), Umar Damagum, and other national leaders of the party to a Federal High Court in Abuja, over alleged violation of the party's constitution.

Sowumi has asked the court to restrain the party leadership from further acting on behalf of the PDP on the grounds that they had refused to hold a meeting of the National Executive Council (NEC).

Sowumi, who was the spokesman of the PDP during the last general elections and a former gubernatorial candidate in Ogun State, in the suit marked: FHC/ ABJ/CS/70/2024, accused the national leadership of the party of hampering its fortune in future elections.

This he said was by failing to hold the mandatory NEC meeting of the party to enable its members review the party's activities, take critical decisions and plan for future elections.

He stated that since the meeting was last held on September 8, 2022 during the tenure of the sacked Chairman, Iyorchia Ayu, the new leadership under Umar Damagum has allegedly refused to convene NEC meeting despite demands by concerned party members.

The plaintiff stated that not only did the failure to hold NEC meeting violate the party's constitution, it was inimical to the progress of the party and threatened his fortune and those of other members, who planned to contest future elections.

Among the reliefs sought was an order of perpetual injunction restraining Damagum and others, including their agents "from functioning or continuing to function or discharge the functions of their

offices until they call for or cause to be called and held meeting of the NEC of the PDP in total fidelity and obeisance to the PDP constitution."

Sowumi, in the suit filed by his lawyer, Anderson Asemota, also wanted the court to order the party's leadership "to immediately call for or cause to be called and held the meeting of the National Executive Committee of the PDP for the purpose of presenting the activities of the party from the date of the last NEC meeting which was held on September 8, 2022."

He also sought an order directing Damagum and others "to immediately call for or cause to be called and held the meeting of the NEC of the PDP for the purpose of presenting the proposed guidelines and regulations governing the conduct of elections to the party offices at all levels and procedure for selecting party candidates for elective offices to the members of the NEC."

36

WEDNESDAY, JANUARY 24, 2024 • T H I S D AY

NEWS

DABIRI-EREWA VISITS OKONJO-IWEALA in geneva...

Director General, World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala(right), receiving the Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), Hon. Dr. Abike Dabiri-Erewa, during her visit to Okonjo-Iweala in Geneva, Switzerland…yesterday

CBN Hinges Monetary Policy Easing on Reduced Inflation Says exchange rate pressure expected to decline in 2024

Nume Ekeghe The Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN), Muhammad Abdullahi, yesterday, said upon achieving the Central Bank of Nigeria’s (CBN) 2024 inflation target of 21.4 per cent, the apex bank would ease monetary policy so as to stimulate economic growth.

In addition, Abdullahi expressed confidence that effective implementation of monetary and fiscal policies would help ease the pressure in the foreign exchange market.

He said this at the, “10th National Economic Outlook: Implementation for Business in Nigeria 2024,” organised by the Chartered Institute of Bankers of Nigeria (CIBN) Centre for Financial Studies in Lagos.

Abdullahi, who represented by the Director, Monetary Policy Department, CBN, Muhammed Tumala said: “Inflationary pressures may persist in the short-term but are expected to decline in 2024. The recently introduced inflation-targeting policy of the bank is expected to rein-in inflation, which is projected to

decline to 21.4 per cent, following the crystallisation of government reforms, despite its persistence in 2023.

“Food inflation is expected to decrease due to improved agricultural productivity. The expected deceleration will largely reflect the base effect of Government reforms in energy and the easing of global supply chain pressures.

“This would boost consumer confidence and purchasing power, benefiting businesses across board.”

He noted that the CBN’s decision to adopt the inflation-targeting

framework to achieve its core mandate was common among central banks.

“Inflation targeting involves using monetary policy tools such as the policy rate to achieve a specific inflation rate within a targeted range.

The aim is to maintain price stability, which is crucial for human welfare, businesses and sustainable economic growth,” he said.

He added: “The CBN will then adjust its policy rate in response to inflation trends and a decrease in inflationary pressures can prompt a more accommodative monetary

Judge Orders Arrest of EFCC Boss, Olukoyede, over Disobedience to Court's Order Alex Enumah in Abuja Justice Abubakar Hussaini Musa of a High Court of the Federal Capital Territory (FCT), Abuja, has ordered the Inspector General (IG) of Police to arrest the Chairman of the Economic and Financial Crimes Commission (EFCC) Mr Ola Olukoyede, over alleged disobedience of a valid court order.

To be arrested alongside Olukoyede, is the commission's Head of Proceeds of Crime Unit, Mr Aliyu Yusuf.

According to the order both are to be arrested, "for the purpose of committing them to prison for disobeying the Court's Order".

The judge issued the order on Tuesday, after hearing the notice to show cause why the order of committal should not be made against the two anti-graft senior officials.

The motion which was filed

by Chief Ikechi Emenike, sought to commit the EFCC's boss and the Head of Proceeds of Crime Unit to court, for failing to comply with the court's order directing them to vacate his private residence at number 6, Aso, Drive, Abuja.

The court had on December 6, 2023 ordered the anti-graft operatives to vacate Emenike's house, but rather than comply with the order, the respondents were said to have mobilized and broke into the living room of the applicant.

"Upon reading a 16-paragraph affidavit in support of the application deposed to by High Chief Ikechi Emenike of No. 6 Aso Drive, Abuja the Claimant/Applicant in this suit to which four exhibits were attached, and a Written Address in support of the application; "And after listening to Adeyemi Pitan, Counsel for the Claimant/ Applicant argue in favour of the application and Hadiza Afegbua, Counsel for the Defendant/Respondent informing the Honourable Court that she has no response to the application; "It is hereby ordered as follows.

(1) That an order is hereby made directing the Inspector-General of Police to arrest Ola Olukoyede who is the Chairman of the Economic and Financial Crimes Commission (EFCC) and Aliyu Yusuf who is the Head of Proceeds of Crime Unit, Economic and Financial Crimes Commission (EFCC) for the purpose of committing them to prison for disobeying the Orders of this Honourable Court contained in the Ruling of this Court delivered on the 06" day of December, 2023; (2) That an order is hereby made directing Ola Olukoyede who is the Chairman of the Economic and Financial Crimes Commission (EFCC) and Aliyu Yusuf who is the Head of Proceeds of Crime Unit, Economic and Financial Crimes Commission (EFCC) to appear before this Honourable Court on

the date mentioned in this Order to show cause why an Order in this Order to show cause why an Order for their Committal to prison should not be made".

Meanwhile, a Certified True Copy (CTC) of the enrolled court order, signed by the Court's Registrar, one Victor Ifeachor, revealed that the suit marked: CV/8690/2023, has been adjourned to January 25, 2024 for hearing.

In an affidavit deposed to in support of the motion number: 2615/2024, the applicant claimed that the bailiff of the court served the office of the defendant the enrolled order on December 07, 2023.

"That notwithstanding the service of the enrolled Order, the Respondent and its Principal Officers named in this contempt proceedings have refused to obey the said Court Order.

"That in a strange fashion, on December 7 2023, about 6:00am, 35 operatives of the Defendant on the authority and directive of the chairman and head of proceeds of crime unit, over powered the security and domestic guards and broke into my living room when i was barely on pajamas. Pictures of the breaking and certificate of compliance are here with attached and marked as exhibit B1 &2.

"That my lawyers caused to be filed on December 8, 2023, Form 48 that is, Notice of Consequences of disobedience but the principal officers of the defendant named

in this proceedings refused to be served personally.

"That My lawyers swiftly filed an application for substituted service of the order on the principal officers of the Defendant named in this contempt proceedings which application was granted on December 12, 2023 directing the Forms 48 to be served either by DHL Courier or by pasting same on the gate of the Defendant.

"That in compliance with the order of the court, My Lawyer immediately caused to be sent through the DHL Courier the Court order as well as the Form 48 which was delivered on December 18, 2023", he averred .

Adding that, "the defendant has refused to vacate the premises of the Claimant even after it was in receipt of the Order of this Honorable Court and the said Form 48.

"That in spite of the service of Form 48 on the Officers of the Respondents, there has not been any compliance with the Order of Court dated 06/12/2023".

Emenike submitted that there is no competent appeal that has been filed to challenge the order of injunction granted by the court restraining the Defendant from arresting and or harassing him and or invading his private residence.

"That it is the duty of this Honorable Court to protect and enforce its subsisting Order otherwise public confidence in our Court would be eroded", he added.

policy.

“Lower interest rates mean that the cost of borrowing for businesses decreases, making capital more accessible. This, in turn, can stimulate investment, businesses, fuelling growth and job creation.”

Speaking further on the exchange rate regime, he said: “I would want to inform you that the major policy thrust of the CBN is the pursuit of a flexible exchange rate regime that has resulted in the unification of the foreign exchange market into a single window.

“Also, the bank has reverted to the conventional monetary policy approach with a focus on attaining price stability, which fosters sustainable economic growth for Nigeria.

The importance of low and stable inflation for businesses cannot be over-emphasised.

“Therefore, it is important to note that the anticipated stability in the foreign exchange market would not only be attributed to a substantial reduction in the country's petroleum products importation by 2024, but also to the recent market determined exchange rate policy of the CBN. “Staff estimates reveal that exchange rate pressures is expected to decline significantly in 2024.”

He reiterated that the recent exchange rate reform, which aims to streamline and harmonise multiple exchange rates, plays a crucial role in eliminating distortions and uncertainties in the foreign exchange market.

Also, he added that the unification of foreign exchange aligns with global best practices, promotes transparency and reduces arbitrage opportunities, which had previously existed in the fragmented exchange rate system.

“A consistent and stable exchange rate not only bolsters investor confidence, signalling a commitment to market-driven policies, but also acts as a powerful magnet for foreign investment. This streamlined approach ensures a smoother operation of the economy, enhancing Nigeria's attractiveness to global investors seeking stability and clarity in currency valuations.”

Another factor he stated would spur the economy was the increased allocation to Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

He said: “Like a builder, the 2024 budget lays bricks for the future,

prioritising critical infrastructure and human capital development.

“We have seen allocations for education, healthcare, infrastructure and other key sectors of the economy geared toward human development and growth.

“In terms of allocation, there is increased government focus in medium enterprises. For instance, allocation to SMEDAN increased by 238.87 per cent to N19.79 billion in 2024, compared with N5.84 billion allocations in 2023. This shows government’s commitment to growing the business sector.”

In his remarks, the President/ Chairman of Council, CIBN, Ken Opara said: “In the face of adversity, we trust that our banking sector will not only weather the storm but emerge stronger, more resilient, and better equipped to contribute to the sustained growth and prosperity of our nation as we share insights on how we can navigate the economic terrain in 2024 and beyond.

“Looking ahead to 2024, our economic landscape presents both challenges and opportunities shaped by specific, quantifiable realities.

“Foreign exchange fluctuations have depreciated the naira by 49 per cent over the past year impacting import costs for businesses. Disruptions in global supply chains have further burdened manufacturers, pushing up the production costs.

These factors necessitate a strategic response from both the government and the banking sector.”

He reiterated that government’s actions must prioritise economic diversification to break our dependence on oil, promote exports and enhance value addition in key sectors like agriculture and manufacturing.

“Nigerian banks, meanwhile, must proactively prepare for capitalisation to service the desired $1trillion economy by 2026 amidst economic uncertainties.

“Building buffers to withstand potential shocks, for example, aiming for the optimal capital adequacy ratio would enhance their resilience and ability to support economic growth.

“Additionally, embracing digital transformation and developing innovative financial solutions tailored to SMEs and other vulnerable sectors will be key to navigating the evolving economic landscape successfully,” he said.

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RIDGE CLINIC ISO CERTIFICATION…

L-R: Medical Director, Bridge Clinic, Dr. Toyin Ajayi; Counsellor, Bridge Clinic, Mrs. Etang Abang; Managing Director, Mr. Sunny Ekhalume; Lead Auditor, Quality Austria, Dr. Peter Sognor, and Quality Specialist, Bridge Clinic,Mrs.Kehinde Arowojolu, at a press conference on the conclusion of Bridge Clinic ISO Certification held in Lagos… yesterday

ETOPUKUTT

FG Receives Blueprint on National Values Charter, Admits Nigerians Now Skeptical Olawale Ajimotokan inAbuja

The federal government has received the blueprint on national values charter which envisions how to bring the various subnational values together to create a national culture that speaks to Nigeria’s common destiny.

President Bola Tinubu will formally unveil the charter to

among the sub-nationals within the public soon.

The Minister of Information and the post-amalgamation structure National Orientation, Mohammed of the country.

The minister said the search Idris, yesterday in Abuja received the blueprint prepared by the National Orientation Agency (NOA).

In his remarks, Idris said a blueprint on national values charter was long overdue to SundayEhigiator address the question of identity A High Court in Lagos has sentenced Mr. Samuel Ademola Oladimeji to three concurrent life imprisonments for the offence of ‘sexual assault by penetration’ of witnessed by top government his three children.

In a statement issued yesterday by officials and parents of the benefiting students.

Governor Radda explained that the allocated fund was for a two-year study period, Okon Bassey inUyo covering tuition fees, monthly upkeep, accommodations and The Economic and Financial other essential expenses of the Crimes Commission (EFCC) has said its operatives at the Uyo students.

Zonal Command have arrested He cautioned the students 24 suspected internet fraudsters against exhibiting unruly reportedly being trained for behaviour while abroad, cybercrimes in Uyo, the Akwa warning that the state government would not hesitate to replace any student found wanting with a more competent candidate.

SylvesterIdowuinWarri

for a national identity had been a challenge over the decades by real and imagined ethnic, linguistic and cultural differences.

Katsina State Governor, Dikko Umaru Radda, has said his administration has expended N900 million to sponsor 41 indigent students to study Medicine and Surgery degrees in Al-Nahda University, Egypt.

The governor revealed this when he hosted the first batch of the indigenous students awarded foreign academic scholarships to study in Egypt by his government.

The event, which was held at the Banquet Hall of the state Government House, was

the Niger Delta region, particularly,

and its regulatory agencies to sell

for Shell onshore assets would be

onshore assets of Shell Petroleum Development Company (SPDC) in

by Shell in collaboration with the Federal Government of Nigeria

that attempts to boycott their kinsmen in the procurement process

at Effurun, Uvwie Local Government Area of Delta State.

of tribe, religion, social and economic status and all other real or imagined barriers and differences.

Lagos High Court Sentences Man to Three Life Terms for Sexually Assaulting His Children

Katsina Spends N900m on Sponsorship of 41 Students to Egypt Francis Sardauna in Katsina

He stressed the determination of the government to define and document the core values that will guide all Nigerians, irrespective

the Lagos State Domestic and Sexual Violence Agency (LagosDSVA), the Judge, Hon. Justice Abiola Soladoye of the Special Offences Court, under the Lagos State High Court system, stated that the prosecution had five witnesses in person of the three girls who had been sexually abused, their mother and the Investigating

Police Officer (IPO) from llupeju Police Station, Family Support Unit.

It stated that the matter was reported to the Lagos DSVA after the mother noted that the children complained about pain in their private parts. They were then referred to Mirabel Centre for medical evaluation; sadly, the

medical report confirmed that all girls had been sexually assaulted.

The Judge stated that the testimonies of the prosecution witnesses were unshaken, but that the defendant’s testimony did not add up because he was simply trying to distance himself from the allegations.

EFCC Arrests 24 Suspected Internet Fraud Trainees in A’Ibom Ibom State capital.

A statement issued by the EFCC spokesperson, Dele Oyewale, said the suspects were arrested on January 22 following an intelligence gathering.

The commission said the suspects were arrested in a storey building suspected to be a criminal hideout

to train internet fraudsters located at the Ewet Housing Estate and Nelson Mandela estate respectively.

He said the suspects would be charged to court at the conclusion of investigations.

The statement read in parts: “The all-male suspects were arrested in two locations in an

intelligence-driven sting operation at D-Line Ewet Housing Estate and Nelson Mandela area both in Uyo. “Items recovered from the premises and the suspects included five exotic cars, 18 laptops, 17 mobile phones and one internet router.

Accommodate Indigenous Companies in Procurement of Shell Onshore Assets, Ijaw Youths Charge FG

in the Ijaw areas, without its onshore assets in the Niger Delta vehemently resisted by all means.

Lagos Partners Pan-African University The Ijaw Youth Council (IYC) those The spokesman of IYC, Binebai the participation of indigenous region is against the Local Content Yerin Princewill, gave the warning Act of Nigeria has warned consortiums companies and stakeholders. to Boost Youth Employability Wtoorldwide The Ijaw youths group warned yesterday at a press conference held IYC alleged that the current move stay clear from procuring the Sunday Okobi

Lagos State Government has signed a Memorandum of Understanding (MOU) on a partnership with Enterprise Development Centre of the Pan African University in Lagos.

The collaboration would aid the state to assist 10, 000 young females in the area of human capital development and acquisition of skills and knowledge, which are necessary for employability and entrepreneurship growth in the state.

The Ministry of Employment

and Job Creation consummated the partnership with the signing of a MoU last Tuesday at a press briefing organised to herald the commencement of the training billed to run for 24 months.

As contained in a statement signed by the Director of Public Affairs, Ministry of Employment and Job Creation, Mrs. Ibironke Famakinwa, the “Transformation of Nigerian Youths’ programme, starting in the first quarter of the running year is in line with the actualisation of the THEMES Plus developmental agenda of the Governor Babajide SanwoOlu-led administration.”

First Lady Urges Christians to be Tolerant Deji Elumoye in Abuja

The Nigerian First Lady, Senator Oluremi Tinubu, has called on the African Christian community, especially in Nigeria, to go beyond religious sentiments and tolerate one another.

She gave the charge yesterday when she received the leadership of the African Biblical Leadership Initiative (ABLI) at the State House in Abuja.

The delegation, which was led by former Head of State,

General Yakubu Gowon (rtd), was in her office to intimate her of the forthcoming 2024 International Conference of ABLI scheduled for October 2024 in Nigeria.

Tinubu noted that the church must harp more on biblical values, especially for the youths.

According to her, “Nigeria needs more prayers at this time, especially for the youths. It is very good for us to begin to train the youths and give them a proper mindset.”

Voters’ Apathy May Mar Ebonyi South Re-run, Says Public Affairs Analyst Benjamin Nworie in Abakaliki

A public affairs analyst, Mr. Sunday Obasi, has predicted that the bye-election of Ebonyi South senatorial zone in Ebonyi State maybe marred by voters apathy.

Obasi, who spoke to journalists in Abakaliki, the state capital,

noted that members of the All Progressives Congress (APC) were dissatisfied with the process that led to the emergence of their standard bearer, Professor Anthony Okorie-Ani. He also said the dissatisfaction among members of the Labour Party (LP), who accused INEC of

complacency in the last election and a possible intimidation from the actors of the APC-led state government may scare voters from turning out en mass to vote.

According to him, “The election maybe characterised by voters’ apathy considering the level of dissatisfaction among

APC members in the processes that led to the emergency of their standard bearer, and the dissatisfaction among Labour Party members who are accusing INEC of complacency on the last election and a possible intimidation from the actors of the APC-led state government.”

Group Elevates Public Engagement on Kwara Hotel Upgrading HammedShittuinIlorin

A leading pro-democracy group in Kwara State, Kwara Must Change, has concluded arrangement to organise a debate for students in the three senatorial districts of the state to garner inputs on how to solve a governance equation on the ongoing upgrade of Kwara Hotel

to five star hotel.

The group, however, said governance should not be left for a few politicians and other personalities who may have their own agenda, instead, it should involve all other stakeholders in order to bring good governance to the people of the state.

The upgrade of the hotel has generated heated exchange in the

state.

A statement issued in Ilorin yesterday signed by the Global Director of the group, Mr. Razaq Hamzat, raised multiple questions for mathematical determination on the issue of the state-owned hotel. The group, however, said any student that can provide the correct answer will be rewarded

with N50,000 cash gift.

The group noted that debate on governance should not be left for a few politicians and public personalities who may have their own agenda, it should involve all concerned stakeholders, especially the students, which it believes can make better judgment on governance issues if given the right information.

HURIWA Demands Justice for Victims of Obeagu Land Demolitions alleging a flagrant violation of occupancy. describing it as ‘troubling’.

Chuks Okocha inAbuja The Human Rights Writers Association of Nigeria (HURIWA) has condemned the recent demolitions conducted by the Enugu Capital Territory Development Authority (ECTDA),

While calling for a comprehensive investigation into the matter, HURIWA revealed that the petition from the Obeagu community provided a comprehensive account of the historical context of the dispute,

their rights and a disregard for due process. The group noted that the Obeagu community’s petition highlighted complexities in the dispute, uncovering discrepancies in land transactions, revocation notices, and the issuance of certificates of

The human rights group expressed deep concern over the alleged collaboration to unlawfully acquire and develop the contested land, leading to the recent demolition of houses within the Centenary City.

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NEWS

discussing CAPITAL MARKET PERFORMANCE…

L-R: Vice Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN), Mr. Friday Ekeoba; Managing Director/Chief Executive , Arthur Steven Asset Management Limited, Mr. Olatunde Amolegbe, and Chairman, CAMCAN, Chinyere Joel-Nwokeoma, during the CAMCAN Review of 2023 Market Performance and Outlook for 2024 in Lagos…yesterday

Police Arrest LG Chair, Other for Alleged Plot to Assassinate Benue Speaker Kingsley Nwezeh inAbuja

The Nigeria Police said yesterday they have arrested two suspects for an alleged plot to assassinate the Speaker of the Benue State House of Assembly, Hon. Aondona Hycenth

Dajoh.

According to the Police in a statement, the suspects were apprehended through the diligent efforts of their operatives.

They said preliminary investigations revealed that

Leninism: ‘Lack of Ideologies Increasing Poverty’ Kuni Tyessi inAbuja Country Representative of Action Aid and former Student Union Government (SUG) President, University of Jos, Ene Obi, has said lack of ideologies in the curriculum of students of tertiary institutions has continued to be the bane of the Nigerian society.

Obi, who stated this yesterday during a two-day lecture on the International Centenary Conference in memory of the passage of Vladimir Ilich Lenin, and with the theme: ‘Lenin, Leninism, Africa and the World’, said lack of ideologies in the Nigerian students has led

to poverty for students.

Vladimir Lenin was known to be a Russian revolutionary, politician, and political theorist, who was born on April 22, 1870, and died on January 21, 1924. He served as the first and founding head of government of Soviet Russia from 1917 to 1924 and of the Soviet Union from 1922 to 1924.

Under his administration, Russia and later the Soviet Union became a one-party socialist state governed by the Communist Party Ideological Marxist, and his developments to the ideology are called Leninism.

the council chairman allegedly contracted a militia with the sinister intention of eliminating the Speaker of the Benue State

House of Assembly, Hon. Aondona Hycenth Dajoh.

The statement issued by the Force Public Relations Officer, Assistant

Commissioner of Police (ACP) Olumuyiwa Adejobi, said the operatives of the Force Intelligence Department and Intelligence

Response Team (FID-IRT) of the police swiftly swung into action upon receiving credible intelligence regarding the planned assassination.

CITN Fellow Writes FIRS Boss, Faults Finance Acts 2021, 2022 Provisions A Fellow of the Chartered Institute of Taxation of Nigeria, (CITN), Mr. Francis Uzoma Ubani, has opined that some provisions of Finance Acts 2021 and 2022 are unconstitutional.

In a letter to the Executive Chairman, Federal Inland Revenue Services (F IRS), Dr Zacch Adedeji, Ubani said the collection, recovery and distribution of revenue from

stamp duties/electronic money transfer (EMTL) by the FIRS is unlawful and contrary to the provisions of Sections 2(2) and 163 of the 1999 Constitution of the Federal Republic of Nigeria as amended.

He therefore, pleaded with the FIRS boss to direct the deposit money banks and other financial institutions to immediately begin

to remit qualified chargeable stamp duties/EMTL accruable to the different federating States of the Federation, pursuant to Section 4 (2) of the Stamp Duties Act, as amended, to the “Relevant Tax Authorities in the various States of the Federation as applicable please.”

He also argued that it is not right as directed in paragraphs 5 (iii) and

(iv) of the FIRS Press Release on Clarification on Administration of Stamp Duties in Nigeria, which stated that the FIRS is vested with powers to collect stamp duties on all banking transactions.

According to him, it is a very wrong clarification that is not supported by the applicable laws on the issue, based on the facts stated above.

How Peter Obi Saved Our Dilapidated Hospital, Says Bishop Ikeakor Chuks Okocha in Abuja

The Anglican Bishop of Amichi Diocese and Proprietor of College of Nursing Sciences, Diocesan Hospital Amichi, Anambra State, Rt Rev Ephraim Ikeakor, has revealed that it took the intervention of Mr. Peter Obi, as the then governor of the state to

rehabilitate their hospital, which was, according to him, dilapidated and overrun by bushes.

The cleric also stated that with Obi’s financial intervention, they were able to set up their School of Nursing Sciences, which he said has today been upgraded to become a College of Nursing Sciences.

Ikeakor made the revelation when Obi paid him a courtesy visit at the College in Amichi and made a donation of N10 million to the College of Nursing Sciences, to help in the training of nurses.

He recalled how the hospital was almost abandoned for years until Obi gave them the seed support with which they

revived the hospital and also started building a school of nursing sciences.

In a statement issued by Michael Jude Nwolisa, the media aide to Obi, he said: “Looking back at the very significant progress they have made, Ikeakor said I know that Mr Peter Obi will be very proud of how far we have come.”

Bauchi State Governor, Senator Bala Mohammed, has sworn in and assigned portfolios to 12 new permanent secretaries in the state government.

Presiding over the oath of office and allegiance ceremony

Mohammed said their appointments were informed by the need to fill the vacuum created by the exit of some retired permanent secretaries.

Mohammed charged them to uphold the culture

accounting officers of their respective Ministry, Departments and Agencies (MDAs), stressing that his administration would not tolerate abuse of public office Speaking on behalf of

Political Research and Economic Affairs S.S.G Office Ahmed Ali Ranga appreciated the governor for the opportunity and assured to justify the confidence reposed in them.

Radda Directs Katsina Govt Bauchi Gov Swears in 12 New Permanent Secretaries, Warns against Abuse of Office at Government House of commitment, dedication the appointees, the new Segun Awofadeji in Bauchi Officials to Declare Assets Bauchi yesterday, Governor and transparency as the Permanent Secretary to first declare their assets to the Francis Sardauna in Katsina

The Katsina State Governor, Dikko Umaru Radda, has directed all political and public office holders in the state to declare their assets to the Code of Conduct Bureau (CCD) for transparency.

Governor Radda, according to a statement by his Chief Press Secretary, Ibrahim Kaula Mohammed, gave the directive when he received the Acting Chairman of the CCB. According to the governor, there is the need for public officers

CCB, if only they are interested in public service.

He assured the CCD boss that all political and public office holders in the state would be encouraged to declare their assets, emphasising that such transparency is essential for governance.

Earlier, Aliyu-Kankia warned that public office holders concealing assets without proper declaration would forfeit them to the Federal Government of Nigeria.

Police Nab Suspected Gunrunner in Kaduna John ShiklaminKaduna

The Kaduna State Police Command has arrested a suspected gunrunner who supplied arms to a notorious bandits’ leader in Zamfara forest.

The spokesperson of the state Police Command, Mansir Hassan, disclosed this in a statement yesterday in Kaduna.

Hassan said the suspect, identified as Musa Yusuf, was intercepted while travelling on a motorbike to Zamfara State after collecting the ammunition at Bakin Kogi in Kauru Local Government Area of Kaduna State.

The statement said: “On January 17 at 2030 hours or thereabout when the police officers from divisional police headquarters in Tudun Wada, Zaria, on tactical operation duty (TOD), accosted a certain Musa Yusuf of Zurmi LGA, Zamfara State, who was on a commercial motorcycle and in possession of a suspicious handbag.

LP Assembly Candidates Condemn Soludo for Destroying Roadside Traders’ Goods David-Chyddy Eleke in Awka

A group, Forum of Labour Party (LP) State House of Assembly Candidates, Anambra State, has condemned the action of the state Governor, Prof Chukwuma Soludo, to

destroy the goods belonging to poor traders in the state.

The Awka Capital Territory Development Agency (ACTDA), while trying to enforce ban on street trading last week, destroyed wares belonging to street traders

in Awka, the state capital.

The forum also condemned the suspension of a traditional ruler, Igwe Damian Ezeani of Neni community, for bestowing a chieftaincy title on the Senator representing Anambra South senatorial

zone, Ifeanyi Ubah.

The LP forum in a statement signed by its Coordinator, Mr. OCN Okafor, and made available to journalists, said the governor was playing god, forgetting that power is transient.

Oyebanji Inaugurates Board for State Investment Company, Agency in Ekiti Gbenga Sodeinde in Ado Ekiti

Ekiti State Governor, Mr. Biodun Oyebanji, last Monday inaugurated the Board for Fountain Holding Limited and Ekiti State Development and Investment Promotion Agency with a charge to revitalise and

reposition the agencies to become major players in the Nigerian investment ecosystem.

Speaking while performing the inauguration at the Exco Chamber of the Governor’s Office in Ado Ekiti, the governor tasked the new board members on initiatives that would transform the agencies

into robust contributors to the state economic growth.

He said his administration’s goal is to establish the state as a competitive force in the country by attracting both public and private enterprises.

Governor Oyebanji, who explained that his dream is

to see the Fountain Holdings becoming a major player in the country’s investment ecosystem, said the board should diversify the current portfolio of companies under its managements to explore new vista of greener investment pasture across sectors.

IREDE Foundation, CFAO Yamaha Partner to Empower Two Child-Amputees

Ugo Aliogo

The IREDE Foundation has partnered CFAO Yamaha Motors to empower two child-amputees.

It was noted in a statement that the partnership was a

collaborative effort to empower the child-amputees also known as champions Princess I and Enitan O, with prosthetic limbs, thereby helping them to have self-sufficient lives and educate over 500 children on disability, through the

distribution of IREDIANS (a disability-focused comic book) and create a more inclusive and supportive environment.

The Senior Marketing Officer of CFAO Yamaha Motors, Tolulope Ojabodu, commended The IREDE team,

and revealed the significance of the partnership.

She applauded the efforts in educating children with disability and also providing ease of mobility, independence, and accessibility to go back to school.

39

T H I S D AY • WEDNESDAY, JANUARY 24, 2024

WEDNESdaysports

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

0811 181 3083 SMS ONLY

AFCON 2023: Nigeria, Cameroon to Renew Rivalry in Round of 16

Duro Ikhazuagbe

Nigeria and Cameroon will renew their rivalry again in the Round of 16 stage of the ongoing 34th Africa Cup of Nations in Côte d’Ivoire on Saturday.

Cameroon’s Indomitable Lions who denied the Super Eagles three AFCON titles by the championship game in 1984, 1988 and 2000, defeated The Gambia 3-2 in their last Group C clash last night to upstage Guinea to the runner up spot of the group.

Defending champions Senegal trounced Guinea 2-0 to finish on maximum nine points on top of the group.

Both Guinea and Cameroon finished on four points each but

superior +5 goals advantage gave the Indomitable Lions the edge over the Syli Nacional.

Nigeria’s Super Eagles on Monday night similarly finished on same seven points with Equatorial Guinea but missed the top spot due to the superior goals difference of the team from Malabo.

The Syli Nacional however look certain to be among the best four third placed teams to progress to the Round of 16.

Defending champions Senegal’s Teranga Lions, winners of all group matches, will wait for the third best placed teams from Groups A, B or F to know who they will play in the Round of 16.

Meanwhile, Super Eagles stand-

in Captain, William Troost-Ekong has said he will be back in training later this week after a knee injury sidelined him out of the team’s final AFCON group game against Guinea Bissau.

The PAOK central defender suffered the injury in the Eagles 1-0 win over AFCON hosts Cote d’Ivoire.

Eagles who observed yesterday as rest day will resume training today ahead of their Saturday clash with the Indomitable Lions of Cameroon.

The team’s major injury doubt remains Antwerp midfielder Alhassan Yusuf, who has yet to return to full team training after the thigh injury that forced him

out of the opening group game against Equatorial Guinea.

The 23-year-old box-to-box midfielder has himself said he hopes to be back for the knockout

FINAL GROUP C Standing Senegal Cameroon Guinea Gambia

P 3 3 3 3

W 3 1 1 0

D 0 1 1 0

L 0 1 1 3

GF 8 5 2 2

GA 1 6 3 7

GD 7 -1 -1 -5

Pts 9 4 4 0

rounds of the competition after a scan showed the injury was not as serious as first feared.

AFCON RESULTS Gambia 2-3 Cameroon Guinea 0-2 Senegal

Today Namibia v Mali S’Africa v Tunisia Tanzania v DR Congo

World Athletics Confirms May 25 Date for 10th Okpekpe Road Race The 10th edition of the historic Okpekpe international 10km Road Race will hold on Saturday, May 25, 2024, according to World Athletics.

The race, the first road running event in West Africa to get World Athletics recognition is among the 30 gold level road races listed in World Athletics' worldwide calendar of global races for 2024.

Overall, World Athletics has confirmed 167 road races for the year and Okpekpe race is the first gold level 10km road race that will hold in 2024.

Zack Amodu, Okpekpe Road Race director says organisers of the race are happy to have consistently received recognition from World Athletics since it was granted a bronze label status in 2015.

“Since the race made history as the first Nigerian nay West African road running event to be recognised by World Athletics and granted a bronze label status in 2015, it has continued to wax stronger and have grown to a

gold level status.

“This is down to our ability to play by World Athletics rules,” said Amodu who reveals other reasons why the race has been a huge success.

“The support we have received from the Okpekpe town and its environs, the people and government of Edo state, the Athletics Federation of Nigeria, the Federal Ministry of Sports Development and of course our sponsors have been invaluable.

“Through our sponsors we have been able to make Edo State in particular and Nigeria in general a destination of sort for Sports.

“On May 25, the attention of the whole sporting world will be on Nigeria when the race is held.

It is the only gold level road race that will be held in the whole world that day which means there will be no divided attention,” said Amodu who further revealed this edition will also serve as a qualifying event for the Paris 2024 Olympics.

Premier League to Feature on Showmax From February 12 The Premier League is set to come to Showmax from February 12, 2024, as the streaming service introduces the world's first standalone Premier League plan for mobile, showcasing all 380 games live, including analysis and highlights at a pocket-friendly price of N2,900.

This was explained at a media briefing, held recently, for the new Showmax, including the unveiling of its new app.

At the conference, the Chief Executive of the Premier League, Richard Masters, in a recorded video, lauded the innovative partnership between the Premier League and MultiChoice, which is set to allow fans to enjoy every Premier League match on their smartphones at a mobile-friendly price point.

Highlighting the important role of Africa in the Premier League's global influence, Masters said: “Africa is incredibly important to the Premier League and our clubs. On the pitch we have more than 50 registered players from Africa in our first team squads this season and our research tells us that three quarters of all adults

in Africa identify as fans of the Premier League, with nearly 20% of the live TV audience on any given match day tuning in from Africa.

“These are the foundations that make the launch of the new Showmax so important and exciting for all of us. We're delighted with this new initiative from MultiChoice to put the Premier League in your pocket, with a new price point to watch all Premier League matches on mobile phones so that millions more can enjoy our fantastic competition”, he continued.

The Premier League's integration into the Showmax platform is a boon for football enthusiasts and aligns with the ever-growing smartphone usage in Africa, where over 450 million smartphones are currently in use. This ambitious venture is poised to make Showmax the go-to destination for football lovers, marking a new era of accessibility to sports entertainment.

The new Showmax app will become available in app stores from 23 January 2024 onward, as part of a staggered migration process across 44 markets

Cameroon’s Indomitable Lions celebrating their qualification for the AFCON 2023 Round of 16...last night

Nigeria v Cameroon: Head-to-Head Nigeria and Cameroon have eight Africa Cup of Nations titles between them, with the Super Eagles champions of Africa in 1980, 1994 and 2013, while the Lions triumphed in 1984, 1988, 2000, 2002 and 2017.

Incidentally, Nigeria was the fall-guy for Cameroon’s first three wins, with the first of those coming right inside the same Stade Félix Houphouët-Boigny in Abidjan that will host Saturday night’s Round of 16 duel. The Lions won 3-1, despite Nigeria going in front after 10 minutes through Mudashiru Babatunde Lawal.

In 1988, Nigeria felt cheated when Mauritanian referee Idrissa Sarr disallowed a goal by Henry Nwosu in the first half at the Stade Mohamed V in Casablanca.

Emmanuel Kunde scored from the spot in the second period to win it for the Lions.

In 2000, as co-hosts, Nigeria fell behind 0-2 in a memorable final with goals from Samuel Eto’o and Patrick Mboma, before Raphael Chukwu Ndukwe and Jay-Jay Okocha restored parity.

The Lions went ahead to win 4-3 after a penalty shootout at the National Stadium, Lagos.

The Lions successfully defended their title in Mali two years later, defeating Senegal on penalties inside Bamako’s Stade March 26, and then came

from behind to edge Egypt 2-1 in Libreville in 2017.

However, Nigerians will remember with a song in their heart the Super Eagles’ triumph over the Lions in the quarterfinals in Tunisia in 2004, and in the Round of 16 in Egypt

in 2019, as well as the 4-0 win over the neighbours in a FIFA World Cup qualifying match in Uyo in 2017 that paved the way for Nigeria’s qualification for Russia 2018.

In Alexandria in 2019, also in the Round of 16, eventual

tournament top scorer Odion Ighalo scored two of the goals in a 3-2 win, with midfielder Alex Iwobi netting the winner from a fabulous assist by Ighalo.

Saturday’s encounter will begin at 8pmCote d’Ivoire time (9pmNigeria time).

Egypt’s Mohamed Salah out for Four Weeks Mohamed Salah has returned to England for treatment on a hamstring tear to give him the best possible chance to be available for the Africa Cup of Nations final, should Egypt make it, Liverpool Assistant Manager, Pep Lijnders announced yesterday.

Salah was forced to watch from the stands as Egypt secured their passage to the Round of 16 of the competition in dramatic fashion on Monday after a 2-2 draw with Cape Verde.

The two-time African player of the year hobbled off during his country's second game of the tournament against Ghana, but the Egyptian federation have maintained hope he could return should the Pharaohs progress far in the tournament.

However, Lijnders suggested that only the final on 11 February is realistic, even if Salah's recovery goes as planned.

"They made a detailed scan

and it came out that it was a proper tear in his hamstring. So, it means his expected return to play is between three to four weeks if everything goes smooth and everything goes right," Lijnders said at a press conference ahead of the Reds' League Cup semifinal, second leg against Fulham today.

"Knowing Mo it will go smooth and it will go right because (of) how he's treated his body before."

"You should never doubt the commitment of Mo Salah" 💬 Salah's injury is the latest cruel twist of fate for the player at the AFCON. He has never won the trophy and twice fallen short in the final, to Cameroon in 2017 and Senegal two years ago.

But Lijnders hit back at criticism claiming that Salah was prioritising his club commitments over leading his country.

"The one you should never doubt the commitment of is

Mo Salah. I never met a guy, a player but also a human being, who is more committed to the life of being a professional football player," added Lijnders.

"I know the country is devastated losing him. We were devastated to hear that he got injured. He plays the first game, scores, assists, captain, massive importance of course.

"But the only reason why our medical team and their medical team decided for him to come back is to give him the best possible chance to be available in the final, if Egypt reaches the final."

Salah's injury is also a blow to Liverpool's quest for just a second Premier League title in 34 years.

Jurgen Klopp's men are five points clear at the top of the table but will now be without their top goalscorer for crucial matches at home to Chelsea and away to Arsenal.

Wednesday, January 24, 2024

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MISSILE General to Sponsors of Terrorism

“The most worrisome aspect was that some of the individuals involved in terrorism financing of Boko Haram terrorists and who were also involved in procurement and movement of arms and ammunition for BH and other criminal organisations had links with the military” --Former General Officer Commanding (GOC) 1 Division of the Nigerian Army, Maj Gen Danjuma Ali-Keffi (rtd), calling on President Bola Tinubu to probe the air crash that killed former Chief of Army Staff, Lt Gen Ibrahim Attahiru.

KayodeKomolafe Gaza and Our Common Humanity The Horizon

kayode.komolafe@thisdaylive.com

T

he situation in Gaza significantly featured at the yesterday meeting of United States Secretary of State Anthony Blinken with President Bola Tinubu in Abuja.

Although the focus of the meeting was, of course, on the bilateral relations between Nigeria and the United States, Foreign Affairs Minister Yusuf Tuggar said while Nigeria and the United States agreed on the ultimate “two-state solution” to the Israeli-Palestinian conflict, Nigeria stressed its support for the call for a ceasefire at least for humanitarian purposes in the Israel war on Gaza. Tuggar clearly defined the areas of “commonality” and “differences” in the policies of the two friendly countries towards the worsening crisis in Gaza.

Such a clarification is important in this age in which obfuscation and hypocrisy have become potent tools of foreign policies by some world powers.

The mood of Nigerians who are genuinely concerned about the killings and destruction in Gaza was aptly captured last Monday by a former foreign affairs minister, Professor Bolaji Akinyemi, when he laid bare on “Arise News” the issue of Gaza as an open sore on the conscience of humanity.

It was Akinyemi’s first appearance as a guest on the television this year. So the anchors began with the customary HappyNew- Year greetings to the professor to kick off that segment of “The Morning Show.”

They expected a response of “Happy New Year.” But the veteran of Nigeria’s foreign affairs establishment said he would not respond in the expected tone because of the catastrophe unfolding in Gaza, where Israel has been waging a war to free the hostages and “eliminate” Hamas.

In fact, today is the 110th day of the war.

In Akinyemi’s view, contrary to the nominations for the “Man of the Year” by various media organisations in the world at the end of 2023, those who actually deserved such a recognition were aid workers, medical personnel, journalists, United Nations staff etc. who have been killed by Israel’s bombings since the horrific attack on the country by Hamas on October 7 last year.

In the ensuing barbaric war, over 25,000 Palestinians have been killed including more than 10, 000 children. Even the Biblical principle of reciprocal justice is that of “an eye for an eye” as contained in the Old Testament books of Exodus and Leviticus. The principle is definitely not that of 25 eyes for an eye as Israel seems to calculate in conducting the war in Gaza with outrageous impunity.

Worse still, supplies of food, water, fuel and medical to Gaza have been at the mercy of Israel. Hundreds of thousands of people have been displaced. Children have died of hunger and dehydration. Refugee camps have been bombed. Houses, schools and hospitals have been destroyed in the Israeli mission of “destroying Hamas terror infrastructure.”

Resolutions for a humanitarian ceasefire at the United Nations have been blocked

by America. With the full backing of the United States, Israel has serially ignored international laws and conventions in the prosecution of this savage war. Israel has even killed in error some of the hostages

Netanyahu

that the war is partly waged to rescue. And at least 535 Israeli soldiers have been killed in Gaza since October 7 last year, including the 24 who were killed only yesterday.

No country could have displayed so much impunity without America’s support. Yet western reactionary ideologues are quick to blackmail those crying for justice in Palestine by accusing them of “antisemitism.” No. Anti-Zionism should not be falsely equated to anti-Semitism. To condemn the recklessness of the Netanyahu’s extreme right-wing regime does not amount to hatred for the great people Israel, who in some respects are also victims of the blind policies of the Israeli state.

For any observer imbued with compassion the question that readily comes to mind is this: whatever happened to our common humanity in the face of the humanitarian catastrophe on display in the territories which have been occupied by Israel for 57 years?

Perhaps, the most soul-lifting aspect of Akinyemi’s statement on “Arise News” last Monday is what he called the “Mandelisation” of the foreign policy of South Africa. The legacy of immense moral capital bequeathed to the free South Africa by its first president , Nelson Mandela, has become manifest in that nation’s response to Israel’s lawless behaviour in Gaza. It is, of course, well known that the spirit of Mandela is that of justice and humanity in the affairs of men

0805 500 1974

whether at national or at the international level. It is this spirit that has prompted South Africa to assume moral leadership in the world by making a case of genocide against Israel at the International Court of Justice (ICJ), the highest legal institution of the United Nations, also called the World Court. Unlike the International Criminal Court (ICC) which is better suited for prosecution of individuals charged with war crimes, the ICJ carries immense moral weight in adjudicating on cases among nations. That’s why a lot of hope is pinned by all lovers of freedom and justice on the ruling of the court to end the Gaza disaster.

However, there should be no illusion about the situation in Gaza. After the 15 judges of the ICJ must have given their rulings, the ball would, of course, be in the court of the United Nations Security Council to enforce the verdict. And America may again “stand with Israel” in opposition to the international convention.

In the course of a two-day hearing, South Africa accused Israel of the “crime of genocide” by violating the 1948 Genocide Convention. Noteworthy is the fact that both South Africa and Israel are party to the convention.

Therefore, South Africa wants the World Court to stop Israel immediately from further killings in Gaza pending the full hearing of the case. This prayer of South Africa, perhaps, could have been unnecessary if the United States had not blocked the United Nations resolution for a humanitarian ceasefire. Well, Israel’s President, Isaac Herzog, has dismissed the case as “preposterous,” describing it as a “blood libel.”

As the world awaits the ruling of World Court, it would be in order to salute South Africa for asserting our common humanity in the true spirit of Mandela. Whatever comes out of the case, South Africa has made the moral point to Israel and its western backers that the world is not a jungle where might is right. After all, an Israeli minister has described the Palestinians as “human beasts” in a hate speech that may bear historical resonance for generations.

All this is happening at a time the West increasingly abandons its liberal values, a trend which actually became more explicit with the 2003 invasion of Iraq. On the false pretext of disarming Iraq of weapons of mass destruction, the United States and the United Kingdom flagrantly violated international laws and invaded the less powerful country. No one could stop the two western powers at the time. The lawlessness of Israel in Gaza 20 years after is reminiscent of the war crimes committed in Iraq in a different context.

More than 10, 000 children are killed in Gaza, yet western powers do not see the urgency of a humanitarian ceasefire! Where

“The resolute opposition of Netanyahu and his fellow extremists to a Palestinian state makes the outlook for Gaza grimmer”

lies the moral content of the foreign policies of these countries?

A few days after the October 7 attack on Israel by Hamas, President Joe Bidden was on a solidarity visit to Tel Aviv. Before his arrival, an Israeli bomb had dropped on an hospital in Gaza. Here is what Bidden told Netanyahu about the incident: “I was deeply saddened and outraged by the explosion of the hospital in Gaza yesterday, and based on what I’ve seen, it appears as though it was done by the other team, not you.” Biden said so on October 18, 2003 without any evidence of independent investigations. Since then Israel has bombed nearly all the hospitals in Gaza and ordered the evacuation of patients.

Israel has claimed that Hamas used the hospitals as centres of military operations and for hiding equipment. Western powers have been silent on this savage conduct of the war. The same western diplomats who made a passionate case for a ceasefire in the Russia-Ukraine war are now opposed to a ceasefire in the Israel war on Gaza.

Their justification is that Hamas should be “eliminated” in Israel’s exercise of its right to self-defence. It doesn’t matter to western powers that while they join Israel in calling Hamas a “terrorist” organisation, lovers of justice and freedom all over the world see Hamas as a liberation movement fighting for freedom, justice and human dignity in Palestine. In the process Hamas too commits its own war crimes.

Some western leaders are myopic about these things probably because of the crucial elections coming up this year in their respective countries. They, therefore, subsume the geo- strategic implications of the escalation of the crisis in Gaza for world peace and the global economy in their electoral calculations.

The response of Biden and others to the humanitarian catastrophe shows that contemporary western leaders are not sufficiently learning from their own history. In 1943, one of the leading American public intellectuals, Reinhold Niebuhr, a theologian, observed on a rather triumphalist note that “the world problem cannot be solved if America does not accept its full responsibility in solving it.” Over 80 years after, America has simply abandoned its moral responsibility by giving Israel the greenlight to kill Palestinians indiscriminately in Gaza.

Israeli Prime Minister Benjamin Netanyahu wants to maintain the military control of Gaza whenever the war ends. To achieve that odious ambition, however, Netanyahu may have to declare himself the governorgeneral of the occupied territories in the true tradition of colonialism. However, like previous vicious settler-colonialisms in history, the Israeli occupation of Gaza, West Bank and East Jerusalem will one day come to an end and Palestine will become a land of freedom.

To be sure, the security of Israel and the statehood for Palestinians should not be mutually exclusive as Netanyahu and his extremist regime in Tel Aviv are presenting things before the world. Doubtless, the resolute opposition of Netanyahu and his fellow extremists to a Palestinian state makes the outlook for Gaza grimmer.

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