THURSDAY 1ST FEBRUARY 2024 by THISDAY Newspapers Ltd

Femi Otedola Emerges Chairman of FBN Holdings Firm: He’s a strong leader with track record of achievements in business Kayode Tokede The management of FBN Holdings Plc yesterday announced the appointment of Mr. Femi Otedola as new Chairman of the oldest financial

institution in Nigeria. The billionaire investor and philanthropist succeeds the outgoing Chairman of the board, Alhaji Ahmad Abdullahi. Acting Company Secretary, FBN

Holdings, Mr. Adewale Arogundade, in a notification to the Nigerian Exchange Limited (NGX) and the investing public stated that the board and directors at a meeting held January 31, 2024, appointed

Otedola as the new chairman of the Board of Directors. Otedola was appointed to the Board of FBN Holdings on August 15, 2023 as a non-executive Director. Arogundade, in a signed statement,

described Otedola as a visionary entrepreneur whose energy was directed at transforming enterprises and putting them on the path of Continued on page 10

Lokpobiri Conﬁrms Negotiations to End $1.3bn OML 245 Dispute... Page 11

Otedola

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Obaseki, InfraCorp, Others Seal N228bn Deal for Reconstruction of Benin-Asaba Expressway... Page 6

Keyamo: We are Going Ahead with FAAN’s Relocation Says N500m on tickets for operations not sustainable Boasts no concession agreement can stop progress in aviation sector Alex Enumah in Abuja Minister of Aviation and Aerospace Development, Mr Festus Keyamo, SAN, has said there is no going

back on the planned move of the headquarters of Federal Airports Authority of Nigeria (FAAN) from Abuja to Lagos. Keyamo, who described opposi-

tion to the move as "a storm in a tea cup", pointed out that over 100 staff of FAAN operated from Lagos, with a handful, consisting of top directors, in Abuja.

Speaking yesterday on Channels Politics Today, Keyamo disclosed that the call for the relocation of the agency to Lagos predated his appointment as aviation minister.

He explained that the headquarters of an organisation did not necessarily mean the largest building or place with the highest number of staff. He said it was, rather, where "the

decision makers sit", stating, "They are all in Lagos, they are not really in Abuja." Continued on page 10

CBN Unfolds Measures to Boost FX Supply, Mitigate Foreign Currency Speculation Sets limits for banks’ Net Open Position Removes exchange rate allowable limit for IMTOs Analysts predict $6bn inflows to market, say policies will have salutary impact on economy Naira falls to N1,530/$ on parallel market, closes at N1,455/$ on I&E Records 85% increase in daily turnover Senate summons Cardoso on state of economy, naira depreciation James Emejo, Sunday Aborisade in Abuja and Nume Ekeghe in Lagos In a major policy initiative aimed at market correction and to boost FX supply, the Central Bank of Nigeria (CBN), yesterday, mandated deposit money banks (DMBs) to ensure that the Net Open Position (NOP) limit of their overall foreign currency assets and liabilities on-and-off-balance sheet did not exceed 20 per cent short or zero per cent long of shareholders' funds unimpaired by losses using the gross aggregate method. Also, in a separate circular dated January 31, 2024, that was signed by the Director, Trade and Exchange Department, Dr. Hassan Mahmud, the CBN announced the removal of allowable limit of exchange rate quoted by the International Money Transfer Operators (IMTOs). The move by the apex bank is also aimed to curtailing foreign currency speculation in the FX market. But the naira yesterday reached an Continued on page 10

SIGNING OF AGREEMENT FOR RECONSTRUCTION OF BENIN-ASABA EXPRESSWAY... L-R: Edo State Commissioner for Justice/Attorney General, Oluwole Osaze-Uzzi; Commissioner for Roads and Bridges, Engr. Ethan Uzamere; Secretary to the State Government, Osarodion Ogie Esq.; Edo State Governor, Mr. Godwin Obaseki; Managing Director, Triple A Infrastructure, Niran Ajakaiye, and Chief Executive Oﬃcer, Triple A Infrastructure Nigeria Limited, Mr. Ike Chioke, after the signing of agreement for the reconstruction of the Benin-Asaba Expressway, ... yesterday

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GERMAN ENVOY VISITS AKPABIO... L-R: Senate Minority Leader, Abba Morro; Senate Leader, Opeyemi Bamidele; Senate President Godswill Akpabio; German Ambassador to Nigeria, Annette Gunther; Deputy Senate President, Jibrin Barau and Senate Deputy Majority Whip, Peter Onyekachi Nweboyin, after a courtesy visit by the German Envoy on the Senate President in his oﬃce... yesterday

Adelabu: Nigeria Must Migrate to Cost Reﬂective Electricity Tariff If FG Cannot Pay for Subsidies Says NIPP plants under-utilised due to gas supply shortages Peter Uzoho The Minister of Power, Chief Adebayo Adelabu, has expressed concerns over the poor electricity supply situation in the country caused by a plethora of issues including outstanding subsidy debts, saying Nigeria should migrate to a full cost-reflective tariff regime if the federal government cannot pay for subsidies owed the market. The Minister also stated that the National Independent Power Plants (NIPPs) being operated and managed by the Niger Delta Power Holding Company Plc (NDPHC) were currently suffering undercapacity utilisation of below 25 per cent due to gas supply constants. Adelabu made the assertions yesterday when he visited the 750 megawatts (mw) Olorunsogo Power Generating Plant in Ogun State and the 500mw Omotosho Generating Plant in Ondo State as part of his nationwide inspection visit to power installations of the federal government. The minister said, "We have been to Olorunsogo and we are now in the Omotosho Power Plant. These are big power plants. I am impressed with the size and the technology of the power plants here. Their operational history is also impressive. "And I am amazed at the level of underutilisation of these power installations. Each of them operates below 25 per cent capacity, when

we are still complaining that power generation is low in this country. The under-capacity utilisation is due to a variety of reasons. "The major part of it is the shortage in gas supply to these installations, which is why I needed to see these plants myself, to look at what can we do to improve the operational capacity of these plants. What can we do to repair those turbines that are down? “What can we do to support these power plants to operate at impressive capacity, so that power supply will improve nationwide?" He said he would later engage with the management of the power companies to explore better ways of collaboration and cooperation such that the federal government could support them to improve their operational capacity, and consequently improve the level of power supply to the distribution companies. He also observed that the government-owned generating companies were currently undervalued, arguing that a number of works needed to be done on them by government to bring them back to higher capacity and improved valuation before they could be sold. Adelabu said if the plants were sold in their current state, the country would be losing, maintaining that Nigeria had invested so much in those power installations that have only existed for 12 years. To address the gas supply chal-

lenge, the minister said there was need for a roundtable meeting and collaboration with the Minister of State for Petroleum (Gas) in order to ensure that gas supply to the Gencos were regular, and ultimately solve the issue of under capacity utilisation of the plants. At this point, Adelabu said Nigeria should migrate to a full cost-reflective tariff regime if the federal government cannot pay for subsidies owed the market. He specifically said, "And we also want to appeal to the federal government that once there is a subsidy promise, it has to be fully funded. If our government is not ready to fund subsidies, it is

actually better for us to migrate to a fully-cost-reflective tariff, because liquidity is a major issue in the sector, which has led to a huge debt being owed power generating companies. "And once they are owed, they are also unable to pay the gas suppliers. When the gas suppliers are not paid, they will be unwilling to supply regular gas to them. “So where are these debts piling up? Where are they coming from? Part of it are the Discos are owing some portion of these debts while the federal government is also owing a huge portion of these debts, which relate to the unfunded portion of the subsidy that they pledge.

Wants Nigerians to stand up against wave of insecurity Wale Igbintade The Presidential candidate of the Labour Party, (LP), in the 2023 elections, Peter Obi has paid a condolence visit to the Al-Kadriyar family, whose six daughters were abducted on January 2, with one of them, Nabeeha, eventually killed. The former Anambra State governor during the visit expressed worries

over the rate of kidnappings in the country and urged the government to curb insecurity. Obi on his verified twitter account now X, said it was heartbreaking to witness the pain and suffering of different families caused by the senseless acts of violence that have plagued the nation. The former governor said "Today, I witnessed yet another heartbreaking

Receives operators from LFZ at State House

Vice President Kashim Shettima has assured businesses operating in the Lekki Free Zone (LFZ) that the federal government was committed to providing the necessary infrastructure to enhance production and related activities in the area. Shettima stated this on Wednesday while interacting with some operators in the Lekki Free Zone led by the Managing Director of Tolaram Group, Mr Haresh Aswani, who were on a courtesy visit to the State House, Abuja. The Vice President, who spoke shortly after listening to a presentation

on the Transformative Solutions For Road Infrastructure in the Lekki Economic Axis, said the development of the road infrastructure along the Lekki axis will be prioritized. According to him, government’s commitment is premised on “the tremendous economic and social benefits accruable to citizens and the government”, as well as the possibility of “opening new vista of opportunities for Nigerians.” Shettima said President Bola Ahmed Tinubu’s antecedents as a pro-business leader is a springboard that will galvanize the development of the area which has huge economic benefits to government and the

Going forward, the power minister said Nigeria needed to have a conversation on whether to pay for the real price of power, which he said was no longer cheap. According to him, throughout West Africa, Nigeria still pays the lowest tariff for power supply, arguing that Ghana, Ivory Coast, Niger and the likes pay almost more than double of Nigeria's electricity tariff. "So, if the government is insisting on continuing with the subsidy, then it has to be funded, so that there's no debt piling up for the generating companies. That's the only way out of the current power situation," he maintained.

Peter Obi Pays Condolence Visit to Nabeeha Al-Kadriyar Family, Says It's Heartbreaking

Shettima: FG Committed to Enhanced Infrastructure for Businesses at Lekki Free Zone Deji Elumoye ÓØ ÌßÔË

"So, I will do everything within my capacity. I have already had a meeting with the honorable Minister of Finance and Coordinating Minister of the Economy as well as the honorable Minister of Budget and National Planning, and the Special Adviser to the President on Energy, on how we can fund the outstanding subsidy unpaid by federal government." He said the meeting with the relevant ministers would continuous today (Thursday), noting that they were to discuss ways to help the power sector through injection of the required liquidity and payment of parts of the outstanding debts owed the generating companies.

people. He further assured all businesses operating in the area and elsewhere in the country that the Tinubu administration “is on the cusp of making history. “We are going to surmount all of the challenges and address the bottlenecks militating against the growth of businesses in the country,” the Vice President added. Earlier, the CEO of Colegate Tolaram, Mr Girish Sharma, in his presentation on the solutions for road infrastructure in the Lekki Economic Axis, said fixing roads in and around the free zone will address challenges faced by operators in the area.

He solicited more support for companies in the area such as Tolaram Group, a company with huge investments in Nigeria cutting across manufacturing, construction and others, employing over 20,000 Nigerians. In an interaction with the newsmen after the visit, a Director at the Lekki Deep Sea Port, Mrs Adesuwa Ladoja, thanked the Vice President for granting them audience and listening to their requests. She also appealed to the Federal Government to prioritise the development of road infrastructure around the Lekki Free Zone, considering its huge economic benefits to the nation.

moment as I paid a condolence visit to the grieving family of Nabeeha Al-Kadriyar, brutally murdered by her abductors in the Nation's capital, Abuja recently. At the same time, I remembered the family of the late Folashade Ariyo. "Unfortunate challenges like these raging violence in our society bring out the strength and resilience that lies within us. It is heartbreaking to witness the pain and suffering of different families caused by the senseless acts of violence that have plagued our nation. "However, amid this darkness, there is hope. Hope that together, as a nation, we can put an end to this horrifying and deadly insecurity. We must come together, united in our resolve to protect the lives and well-being of every Nigerian. "To our citizenry, I implore us that we should not allow fear to paralyze us. Instead, let's stand up against this ugly wave of insecurity. May we support one another, lend a helping hand to those in need, and work towards creating a safer and more secure future for all. "May the memories of Nabeeha and all those who have lost their lives to such violent attacks inspire us, especially we the leaders, to take more decisive action against this ugly monster of insecurity. May we honor their memory by working tirelessly to ensure that no more lives are lost to such senseless acts. Let us believe in the power of unity and

in the strength of our collective will. Let us believe that we can make a difference. Together, we can build a nation where every Nigerian feels safe, secure, and valued. "| greet the afflicted and the bereaved with deepest condolences and sense of solidarity. A nation that grieves together in moments of tragedy will surely rejoice together when we triumph over our current travails. "If there's something that should not happen this period, it should us losing hope. We cannot lose hope and be lost in despair. Some of the countries we eye today all went through rough times. Let us fight for ours for a bright future. Recall that bandits abducted about 20 people from the Sagwari Estate Layout in the Dutsen-Alhaji area in the Bwari Area Council of the Federal Capital Territory earlier in January. They included six girls who were abducted from their home alongside their father, Alhaji Mansoor Al-Kadriyar. It was gathered that the gunmen later released their father, asking him to go get the ransom for the release of his daughters. The kidnappers killed four of the hostages, including Nabeeha Al-Kadriyar, a 400-level student of Biological Science, Ahmadu Bello University, Zaria, and 13-year-old Folashade Ariyo. The remaining five sisters regained their freedom on Saturday, January 20.

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CAPACITY BUILDING... L-R: CEO of Optiva Capital Partners, Mrs. Jane Kimemia; Senior Chief Manager at TIW Capital Group Singapore, Devi. V.; Chairman of Optiva Capital Partners, Mr. Franklin Nechi; Senior Director and Business Head at TIW Capital Group Singapore for the Middle East and Asia, Mr. Ranjith Kumar. G., and Executive Director of Business Development at Optiva Capital Partners, Mrs. Amaka Okeke-Lawal, during the courtesy visit by Optiva Capital Partners’ international partners, TIW Capital Group Singapore, to the company’s headquarters where they conducted training sessions for staﬀ and visited other branches across Nigeria…recently

Obaseki, InfraCorp, Others Seal N228bn Deal for Reconstruction of Benin-Asaba Expressway State partners Triple A Infrastructure, InfraCorp on a 25-year highway concession project Edo State Governor, Mr. Godwin Obaseki, yesterday, signed a N228 billion agreement with the Infrastructure Corporation of Nigeria (InfraCorp) and AAA Infrastructure Nigeria Limited (Triple A Infrastructure) for the reconstruction of the Benin-Asaba Expressway. The road project is to be funded by Triple Infrastructure and InfraCorp and supported by the Edo State Government as an equity investor under the 25-year Highway Development Management Initiative (HDMI) Concession to Africa Plus Partners. Signing the deal at the Government House, in Benin City, the Edo State capital, Obaseki who described the partnership as a great financing model for unlocking infrastructure development in the Country, urged for sustained partnership between

States and the Federal Government. According to him, “Between 2000 and 2001 when a Committee was set up to redesign the Pension arrangement in Nigeria, the whole idea was to move into a contributory pension arrangement and begin a process of capital formation in the country by getting workers in the country contribute their pension and these pensions will be invested in rebuilding the infrastructure of this Country. “That was the dream 30 years ago. I was on that Committee alongside Comrade Adams Oshiomhole. It was the Committee that gave birth to the pension funds that we have in the country today. Those pension funds have in excess of N16 trillion under savings but no outlet to invest them on, but forced to invest in

short-term papers issued by the federal government. “With transactions like this coming on stream, we will be creating opportunities for these pension funds to take our savings and put them into investments that will really develop Nigeria. This transaction for us is significant and we believe and hope that it's the first of several that will come.” On the economic benefits of the project, the governor noted, “The Benin-Asaba artery is very critical to the economy of Nigeria because it's that route that moves bulk of goods from the port in Lagos State, in the West, to the Eastern and SouthSouth parts in Nigeria. “You can imagine the cost that transporters and logistics managers have to bear and which has been translated into

prices because of the bad nature of the roads.” He added: “60km of this road is in Edo State and a large portion of this road starts from Ring Road through Abudu and Agbor to Asaba. The Edo State Government at some point in time had to invest money to do remedial work on that road because we were almost cut off. “I am glad that the federal government has now concessioned the road and not just to anybody but people who know what to do and have real money, not portfolio managers who sign contracts and sell the same. “We know the winners of these concessions very well and this transaction we believe in and it is very core to the economy of Edo State. As a State, we have no

Customs CG Blames Revenue Shrinkage on 2023 Elections, Naira Redesign, Others Adedayo Akinwale in Abuja The Comptroller General (CG) of Nigeria Customs Service (NCS), Bashir Adeniyi has blamed revenue shrinkage on cash crunch, naira redesign and the cumulative effects of 2023 being an election year, among other factors. Adeniyi made this known yesterday in Abuja during the interactive session with the House of Representatives Committee on Customs and Excise on the review of the Service's 2023 budget performance and its 2024 proposed budget. Adeniyi noted that the revenue projection was N3.669 trillion but the service collected N3.202 trillion from January to December 2023 which showed over N400 billion negative variance below target due to the factors listed. He emphasised that uncertainties and anxiety towards 2023 elections and suspension of excise on single use plastics, carbonated drinks, telecommunications Value Added Tax (VAT)affected Customs revenue. He added that other major causes were the cash crunch, currency redesign which he said also contributed a lot to revenue

loss in the first half of 2023 as cargo throughput also reduced drastically in the year under review. He said customs did its best to meet targets but was hampered by the factors which also included import duty exemption. Earlier, the Chairman of the

Committee, Hon. Leke Abejide said over the four budget cycle, the committee has witnessed the emphasis placed on e-customs for trade facilitation and other economic contributions of the process. He stressed that the impact of ecustoms cannot be overemphasised,

adding that its understanding would make more technologically advanced customs. He noted that budget framework must align with the main objective of a reformed customs that will go with the time and deliver it's mandate.

hesitation to also invest our money on that road. We have already started investing as we have spent almost N1 billion doing remedial work on the road. “Now that we have been offered equity shares on this road, I want to commit that the Edo State Government will invest in this concession to fast track the process and any other concession of roads that goes through Edo State.” On ensuring the timely completion of the project, Obaseki stated, “Having started with this project, I want to implore you to fast track the process so that people will see that it is real and try to overcome the challenges caused by the rainy seasons.” He further noted, “I hope that the Federal Ministry of Works would now consider very urgently to terminate the Benin-Auchi road contract and put up the road for concession as the Edo State Government will support that initiative because that is the way to go. “Let us tell ourselves the truth, the federal government doesn’t have the kind of money required to rebuild the roads to the standard they should be and this is the way to go. “The cost of this road, N228 billion, is more than a quarter of the entire budget of the Federal Ministry of Works. For us to continue the old model of expecting the Federal Ministry of Works to reconstruct our road is like a pipe dream.”

“This is a call on the Federal Ministry of Works to urgently terminate all contracts of the Benin-Auchi road and put up that road quickly for concession like this and the Edo State Government will support it,” Obaseki charged. On his part, the Chief Executive Officer (CEO) of Triple A Infrastructure Nigeria Limited Mr. Ike Chioke, said the agreement with the state government was for the complete reconstruction of the Benin-Asaba Expressway under the HDMI Concession to Africa Plus Partners. Also, the Managing Director of Triple A Infrastructure, Niran Ajakaiye, while revealing further details of the partnership, reassured that the project will be world-class, noting that the road construction project would commence from Benin in Edo State, to Asaba in Delta State and terminate at the Second Niger Bridge. He stated, “What we are going to do is expand and upgrade the road to world-class and best standard road. In some locations, we are expanding to 10 lanes, and in others, eight lanes and so on. We are glad to have the Edo State government partner with us on this project as an equity investor.” Ajakaiye added, “Once this road is done, it will be a world-class asset for the benefit of Edo and Delta States and will open up the corridor to the east and the west of the country.”

Sahara Group Plants 2,000 Trees Per Annum to Remove 450 Tonnes of CO2 from Atmosphere As part of efforts to drive sustainability, energy conglomerate and infrastructure Sahara Group in partnership with Treedom is planting a minimum of 2,000 trees annually across Africa. The initial set of trees would absorb more than 450 tonnes of CO2 over the next 10 years. This collection of trees called ‘Asharami Groves’ would be planted in the conglomerate’s locations of operation across Africa, starting with Cameroon (900 trees) and Kenya (1,100 trees). This collaboration, according

to a statement, was part of Sahara's efforts to drive environmental sustainability. Treedom is a social organization that aims to support sustainable development through tree planting. Since Treedom’s establishment in 2010, more than 3 million trees have been planted across Africa, South-East Asia, and South America. All trees are planted directly by local farmers, bringing environmental, social, and financial benefits to their communities. According to the Director, Governance and Sustainability, Ejiro Gray, “Sahara Group is

committed to taking ambitious actions to address climate change, and our collaboration with Treedom is a significant step towards achieving our sustainability goals. “We believe that planting trees is one of the most effective ways to mitigate the impacts of climate change, and we are proud to partner with an organisation that shares our vision of a sustainable future.” Gray said Sahara Group remained committed to environmental sustainability and would continue to champion

efforts geared towards preserving the environment and creating a better future for all. Sahara Group recently announced its 2060 net zero plan, which aims to achieve carbon neutrality by 2060. This was in commitment to driving sustainability through reducing greenhouse gas emissions, promoting energy efficiency, and adopting renewable energy sources. Speaking on the significance of this partnership, Managing Director Treedom, Pacifico Mario expressed excitement

over Treedom’s partnership with Sahara and the impact that it would achieve. “Treedom is happy to be partnering with Sahara to plant a minimum of 10,000 trees over the next 5 years. We see the energy industry as an area that must actively contribute to positive climate impact, which Sahara will be doing through our agroforestry projects in Cameroon and Kenya. Additionally, our farmer partners will be directly benefiting socially and economically at the same time through these projects” Pacifio added.

THURSDAY FEBRUARY 1, 2024 • T H I S D AY

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OGUNINVEST AMBASSADORS NETWORK INAUGURATION AND ORIENTATION COURSE... L-R: Chairman, Manufacturers Association of Nigeria (Ogun State), Mr. George Onafowokan, Commissioner for Finance and Chief Economic Adviser, Mr. Dapo Okubadejo, Special Adviser, OgunInvest, Ms. Sola Arobieke, Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela, Zonal Director, Nigeria Investment Promotion Council, Mr. Hassan Lawal, at the OgunInvest Ambassadors Network Inauguration and Orientation Course held at OgunInvest Oﬃce, Isheri, Ogun State.

Lagos Extends Deadline for Filing Annual Tax Returns to February 7 State to increase tax net, targets N100bn monthly IGR Segun James The Lagos State Internal Revenue Service (LIRS) has extended the filing of employers' annual tax returns by one week to February 7, 2024. The service said the extension was necessitated by the recent downtime experienced on its e-tax portal The Executive Chairman of LIRS, Mr. Ayodele Subair, who disclosed this in a statement, said the statutory filing of annual tax returns by companies expired on January 31st, saying each fiscal year attracts stiff penalties for defaulters. But taxpayers were advised to take advantage of the extension to perform their obligation. According to him, the extension was aimed at providing taxpayers with additional time to ensure accurate and timely submission of their annual tax returns. Subair, urged employers of labour to take full advantage of the extension to perform their civic obligation to avoid penalties and other statutory sanctions outlined in section 81(3) of the Personal Income Tax (Amendment) Act 2011. “We understand that unforeseen circumstances may arise, and this

extension is intended to accommodate such instances. “We implore all employers of labour within Lagos State, who are experiencing difficulties in the filing of their annual tax returns to call our service centre or visit the help desks at our various tax stations. “It is important to adhere to the revised deadline to maintain compliance and avoid any potential penalties. “For further details or inquiries, we encourage taxpayers to visit the agency's website at www.lirs.gov. ng, follow LIRS on social media platforms, or contact us via email at etaxinfo@lirs.net," the LIRS boss stated. Meanwhile, Lagos State Government yesterday said the 2024 budget estimate would be funded from a projected revenue estimate of N1.880 trillion, comprising Internally Generated Revenue (IGR) of N1.189 trillion and other revenues. Also, the state government would invest N550.689 billion to develop and maintain its infrastructure in 2024. The projected target of N1.189 trillion from IGR represents a monthly revenue generation target of close to a N100 billion.

The State Commissioner for Economic Planning & Budget, Mr. Ope George, made the disclosure during a press briefing at Alausa, Ikeja. George said Lagos expects capital receipts of N94.605 billion and Federal Transfer N596.629 billion, adding that, "LIRS is expected to contribute 63 per cent (N750 billion) of the projected TIGR, while about 23 per cent (N283.567 billion) is expected to be generated by other MDAs of government.” The Commissioner said, "We

shall achieve this by deepening the revenue and increase the tax net through the deployment of technology, economic intelligence, data gathering and analysis amongst other initiatives. “There are huge revenue generating opportunities in the informal sector, including real estates, transportation, and trade.” He explained that the deficit of N387.125 billion is projected to be funded by a combination of internal, external loans and bond issuance. George said the budget would

The Executive Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has said the country’s armed forces remain crucial to domestic revenue mobilisation. Speaking while receiving the Chief of Defence Staff, Gen. Christopher Musa, who paid him a courtesy visit in his office, Adedeji, called for the strengthening of the existing mutually beneficial relationship between the armed forces and FIRS to enhance the latter’s tax collection drive. FIRS has a revenue target of N19.41 trillion as contained in the Mediumterm Expenditure Framework (MTEF) 2024 compared to the services’ N18.68 trillion revenue projection for the year. It collected N12.37 trillion in 2023, surpassing the target by N816 billion. In a statement, issued by his Special Adviser on Media, Mr. Dare Adekanmbi, Adedeji said that

prosperity and development would be difficult to achieve in an insecure environment. Under the new FIRS operational structure which was recently unveiled, Adedeji said the service has a responsibility to create a conducive environment for businesses to thrive and operate profitably to pay taxes to the government. He said: “A lot of people will ask: What’s the relationship between the Armed Forces and the FIRS? What you will hear President Bola Tinubu say at all times is that we will not tax the seeds, but the fruits from them. This means when we plant the seeds, we water it to grow. “The Armed Forces personnel are the people who help us to guide the vineyard where the seeds are planted, especially in the oil and gas industry. They make it possible for us to go into the vineyards to pluck the fruits,” he said.

“The State's 5-year Agric roadmap stands as a testament to this commitment aiming to bolster support for farmers and enhance our overall food systems. This initiative prompted the State to allocate a total sum of N44.33 billion towards central food security, fostering projects such as the cattle feedlot project, fish processing hub programs, and wholesale produce hub and market. “These endeavors aim to elevate food quality, reduce prices and optimise the agricultural sector in the long run.”

Bandits Abduct Two Kubwa Sisters in Abuja, Demand N30m Ransom Chuks Okocha in Abuja Two teenage sisters have been kidnapped by gunmen suspected to be bandits at Guita community, Chikakore in Kubwa, Bwari Area Council

of the Federal Capital Territory, Abuja. This came barely eight days after the Chikakore community protested to the office of the FCT Minister, Nyesom Wike, over the terrible state of the

Adedeji: Armed Forces’ Activities Key to Domestic Revenue Drive James Emejo in Abuja

also address development of affordable housing schemes and urban renewal projects so as to address the housing deficit in the state by injecting a total of N55.924 billion, representing 2.5 per cent of the entire budget. He stressed that there would be focus on some “Special Projects: Continuous progress on major infrastructure projects like the Lekki-Epe International Airport, the Omu Creek, Blue and Red line etc. It should be noted that most of these projects will be prioritised.”

Addressing the defence staff chief, alongside other generals who accompanied him, Adedeji said: “Without you, we will not have the right fruits. If there is no security, there is no way prosperity can happen. We are interested in prosperity because that is what we want to tax. “So, there is a symbiotic relationship between the Armed Forces and FIRS. We don’t take this relationship for granted. When companies don’t run as a result of insecurity, they will not make profits and when they don’t make profit, there will be nothing to tax. “That is why the welfare of members of the Armed Forces and security operatives in general is number one on the agenda of President Bola Tinubu. “It is when we have security that prosperity can come and it is when there is prosperity that we will have the revenue to give to the federation.”

Earlier, Musa had pledged the support of the military to FIRS in its determination to make available the needed revenue for government services. He said: “The more FIRS succeeds, the more Nigeria benefits from the institution. So, FIRS is very crucial to the government and to us as members of the armed forces as well as to the country. “We are also here to show our commitment to ensuring that we give you all support whenever it is needed so you can do your job without any harassment or intimidation from any quarters. “FIRS can raise funds for the federation. We know the importance of taxation and how it brings development. We are beginning to have awareness from members of the public who now realise that the taxes they pay are important for the development of the country.”

major road linking their community which they described as one of the causes of serial kidnapping in the area. THISDAY gathered that the kidnappers returned last Sunday around 11:25pm despite the patrol of military men and policemen in the area. It was learnt that the gunmen numbering six, made away with the girls, who were said to be 16 and 14 years old through the forests and hills in the area. A police source in the area, who confirmed their kidnap to THISDAY yesterday, said the attackers took three of a man’s children, two girls and one boy, but they went away with two girls and sent back one (the boy) from the bush. He was sent to go and tell their father to prepare N30 million as the ransom. “The gunmen have changed their approach, when they came. They didn’t shoot like before, but forced themselves inside. While they were forcing themselves inside, the owner of the house (a Calabar man) ran to the vigilante’s office, then, he ran to the commander’s house before the commander could call another person, and

rush to his house, the gunmen were already gone. “It was when they were going, they started shooting, unlike before that they would shoot before the operation and till the end. “They took three of his children, two girls and one boy, but they went away with two and sent back one (the boy) from the bush that he should go and tell their father to prepare 30 million naira for their ransom. “When they were taken, the two girls (16 and 14 years) one of the girls was wearing night gown, the mother tried to plead with the gunmen to let her wear something for the cold, but instead they beat up the mother. She had no option than to just let the girls go the way they were under the cold. “Before the police came to the scene, they were already gone. Some of the vigilante later traced them to the railway line, to the rocks but there was no trace anymore. “The man that his daughters were kidnapped is a front liner security payment and he has made some several donations to the community.”

THURSDAY FEBRUARY 1, 2024 • T H I S D AY

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US Urges Nigeria to Restore Civilian Presidents in Mali, Niger, Burkina Faso Moody's: Exit of three countries from ECOWAS may hinder bloc's growth Ndubuisi Francis in Abuja and Emma Okonji in Lagos The United States (US) government has called on Nigeria to play its ‘Big Brother’ role in ensuring full restoration of democratically elected Presidents in Niger, Mali and Burkina Faso that were ousted by military juntas in the respective countries last year. Equally, Moody’s rating agency yesterday, stated that the decision of Burkina Faso, Mali and Niger to exit the Economic Community of West African States (ECOWAS) could hinder the bloc's economic growth. The US Under Secretary of State for Civilian Security, Democracy and Human Rights, Ms. Uzra Zeya, called on Nigeria to play the big brother role yesterday, during an interview with ARISE NEWS Channels, the broadcast arm of THISDAY Newspapers, in her first visit to Nigeria.

When asked to share her thoughts on the planned pullout of some African countries like Niger, Mali and Burkina Faso from the regional bloc and the ripple effect that the planned pullout would cause on the African continent, Zeya said: “There is a trend of concern about the African democracy that must be addressed. Democracy is work in progress and not a destination and should not be taken for granted by any African country. “The US government has resolved to continue to work towards strengthening democracy, to defend democracy and to protect democracy in Africa. “On this note, the US government absolutely appreciates the efforts of ECOWAS and the leadership of Nigeria on ECOWAS. As Chairman of ECOWAS, the US wants to see Nigeria play a crucial role in restoring peace in Niger, Mali and Burkina Faso and ensure the restoration of the democratically elected presidents

of these three African countries, whose Presidents were ousted by military juntas. “Nigeria must restore peace to these three African countries for the good of everyone.” Giving reasons for her visit to Nigeria for the first time, after her boss, the US Secretary of State, Anthony Blinken, visited Nigeria last week, the US Under Secretary of State said: “This week, my team and I are in Nigeria on an official visit, and I am proud to be in Nigeria and to follow the footsteps of my boss. Our visits speak volume of the importance of Nigeria as the country with the biggest economy in Africa and Nigeria is big in Africa’s democracy. “For this reason, the US President, Joe Biden has asked US officials to build genuine relationship with African countries, African entrepreneurs, especially Nigeria. The success of the partnership between Nigeria and the US, will not only benefit the over 200 million

Nigerians, but will also benefit Africa as a whole and the world at large. So I am proud to visit Nigeria.” According to her, the focus for US has been on how to strengthen democracy throughout the world. “Every democracy in the world has the responsibility to deliver to its people and to do more to improve on its democracy. The US government is willing to work with Nigeria to improve her democracy. “Another area of my focus is about human rights and human right is about giving voice to the voiceless and helping those that are marginalised and to ensure that everyone is given the right to express themselves and to associate freely with people of their choice. “Again, civilian security is a major focus for me, and this has to do with human-focused security and the kind of security that gives people the opportunity to live in safety. It also means accountable security services that protect the

people and accountable to them, and this has informed our collaboration with countries across the world,” Zeya said.

Moody's: Burkina Faso, Mali, Niger Exit from ECOWAS May Hinder Bloc's Growth According to Moody’s, the exit of the three countries would be much more detrimental if they also decided to leave the West African Economic and Monetary Union (WAEMU). A pointer to this was underscored by Mali's Foreign Minister Abdoulaye Diop, who said yesterday, that the West African nation would remain a member of the West African Monetary Union (UEMOA) despite its exit from the Economic Community of West African States (ECOWAS). The eight-nation UEMOA uses the West Africa CFA franc currency which is pegged to the euro.

US President Biden The three military junta-led countries had last Sunday announced that they were planning to leave ECOWAS, the region's main economic and political bloc. In a statement, Moody’s stated: "The three countries' departures would disrupt the economic integration that is ECOWAS' raison d'etre and weigh on business confidence, potentially hindering the bloc's economic growth. "While not our baseline expectation, an exit from WAEMU would be much more detrimental to sovereigns leaving the monetary union because of the credit support that WAEMU membership provides in terms of macroeconomic stability and reduced external vulnerability."

CBN UNFOLDS MEASURES TO BOOSTS FX SUPPLY, MITIGATE FOREIGN CURRENCY SPECULATION all-time low on the parallel market, where it traded for N1, 530/$1. On the I&E Window, however, it closed at N1, 455.59/$1 yesterday, gaining N26.98, compared to the N1, 482.57/$ recorded on Tuesday. The naira depreciated by N70 in one day on the parallel market, compared with the N1, 460/$1 it recorded the previous day. Notably, the official window recorded an increase in daily turnover from $72.33 million on Tuesday to $134.07 million yesterday, indicating an 85.27 per cent increase. The highest spot rate recorded yesterday was N1, 509/$1, while the lowest spot rate recorded was N789/$1. Meanwhile, Senate Committee on Banking, Insurance and other Financial Institutions, yesterday, summoned the CBN governor Mr. Olayemi Cardoso, to appear before it next Tuesday to address the state of the economy and the free fall of the naira in the past few days. The latest directive by the central bank came amid concerns over the growth in foreign currency exposures of banks through their NOP. The central bank disclosed this in new prudential requirements it issued to all banks via a circular dated January 31, 2024 and signed jointly by CBN Director, Trade and Exchange, Dr. Hassan Mahmud, and Mrs. Rita Ijeoma Sike, for CBN Director, Banking Supervision. CBN stated that the development had created an incentive for banks to hold excess long foreign currency positions, which exposed them to foreign exchange and other risks. Analysts expressed optimism that the new policy regime would have salutary impact on the FX market, in particular, and the economy, in general. They estimated that the reform could cause between $4 billion and $6 billion inflows to the

market amid the current liquidity challenges. NOP in one foreign currency is the net outstanding balance of all assets, liabilities, and off-balance sheet items in that currency. The net open position in debit is often referred to as “long" while the position in credit is defined as "short". According to the apex bank, the updated regulation seeks to ensure that the risks are well managed. It also seeks to avoid losses that can pose material systemic challenges to the financial industry. The CBN circular titled, “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Bank,” further directed that banks whose current NOP exceeded the approved limits of their shareholders' funds unimpaired by losses were required to bring them to prudential limit by February 1, 2024. Under the new regulatory regime, banks are further required to compute their daily and monthly NOP and Foreign Currency Trading Position (FCTP) using approved templates. The central bank stated that banks would also be required to have adequate stock of high-quality liquid foreign assets, including cash and government securities in each significant currency to cover their maturing foreign currency obligations. Additionally, banks were required to borrow and lend in the same currency (natural hedging) to avoid currency mismatch associated with foreign currency risk. CBN further directed that the basis of the interest rate for borrowing should be the same as that of lending, pointing out that there should be, “No mismatch in floating and fixed interest rates, to mitigate basis risk associated with foreign borrowing interest rate risk.” With respect to Eurobonds, the

central bank advised that any clause of early redemption should be at the instance of the issuer and approval obtained from the CBN in this regard, even if the bond did not qualify as tier 2 capital. Moreover, all banks were required to adopt adequate treasury and risk management systems to provide oversight of all foreign exchange exposures and ensure accurate reporting on a timely basis. Banks were expected to bring all their exposures within the set limits immediately and ensure that all returns submitted to the CBN provide an accurate reflection of their balance sheets. The central bank warned that non-compliance with the NOP limit would result in immediate sanction and/or suspension from participation in the foreign exchange market. In the circular on IMTOs’ allowable limit for quoting exchange rate also released yesterday, the CBN stated: “The circular with reference TED/ FEM/PUB/FPC/001/009 dated September 13, 2023, states that IMTOs are required to quote rates within an allowable limit of - 2.5 per cent to +2.5 per cent around the previous day’s closing rate of the Nigerian foreign exchange market. “However, in line with the CBN’s commitment to liberalise the Nigerian foreign exchange market, IMTOs are hereby allowed to quote exchange rates for naira payout to beneficiaries based on the prevailing market rates at the Nigerian foreign exchange market on a willing seller, willing buyer basis. “For the avoidance of doubt, by this circular, the cap on allowable limit of -2.5 per cent to +2.5 per cent around the previous day’s closing rate of the Nigerian foreign exchange market is hereby removed. “Therefore, this particular circular

supersedes the circular with reference TED/FEM/PUB/FPC/001/009 dated September 13, 2023.” It urged authorised dealers, IMTOs and the public to comply accordingly. Analysts believed that the latest regulatory intervention on the NOP by the apex bank would ensure that banks that had been buying FX, holding onto it, and betting that the naira would continue to depreciate sold it to their customers in dire need of foreign currency within 24 hours to meet the new CBN prudential guidelines. The move was also expected to ease pressure on the black market, improve transparency, as well as restore confidence in the FX market. A report by Comercio Partners said the new regulatory initiative by the CBN underscored its proactive approach to addressing mounting concerns related to excessive foreign currency speculation and hoarding practices observed within Nigerian banks. Specifically, the report stated that adjustment in NOP could lead to a sudden influx of forex into the market, as banks liquidated their net long positions, adding that increased supply of foreign currency may put downward pressure on its value in the short term. According to the Lagos-based financial advisory and investment company, “The circular intends to discourage speculative activities and encourage banks to sell forex into the market. “If banks comply, it could lead to an immediate reprieve for the forex market and potentially trigger currency appreciation. Investors might witness a strengthening of the local currency against major foreign currencies, including the dollar.” The report also said the measures could impact banks’ profitability.

K E YA M O : W E A R E G O I N G A H E A D W I T H FA A N ’S R E LO C AT I O N Keyamo said leaders of the agency had approached him on assumption of office to address their challenges, "They came to me to say some of the directors are here but the support staff don't have a place to stay; you see them fly everyday to and fro Lagos/ Abuja". Lamenting that the problem of FAAN was compounded by lack of digitalisation of the agency, the minister disclosed that FAAN spent close to half a billion naira on tickets yearly. "N450 million on tickets alone? I shouted," he exclaimed. Keyamo stated that the relocation would further enhance the operational efficiency of FAAN, as the old building can adequately attend to the accommodation challenge being faced in Abuja. He added that as minister he hardly met with Managing Director of FAAN more than once in a week. "We are going ahead," he maintained, stating that the movement is not movement of materials or

persons, but one of re-designation. Keyamo also spoke on other issues in the aviation sector. He said the sector was all about agreement and the ministry under his leadership had commenced efforts to enter into relevant agreements and partnerships, both with foreign and local investors, with a view to making the sector one of the best in Africa. According to him, the starting point is the creation of a master plan that would turn Nigeria to the aviation hub of Africa. He said the administration of President Bola Tinubu, as part of efforts to transform the sector, had established a special intervention fund with the sum of over N40 billion earmarked in the 2024 budget. The minister said the fund would be expended on navigational equipment, like the Total Radar Coverage of Nigeria (TRACOM), among others. Keyamo disclosed that a technical committee would be inaugurated

next week to draw up a master plan for the aviation sector through which his vision would be sold to investors across the globe. He said plans were already on for a Canadian firm to equip all the country's airports with free Wi-Fi. The minister disclosed that he was already in talks with the Minister of Justice to create conducive legal frameworks that would make the aviation sector attractive to foreign investors. He said he would not allow certain current concessional agreements hinder his plan for the sector, especially agreements entered into over the years but yet to have any meaningful impact on the sector and the country. He stated, "No court matter or concessionary agreement can hold me down. I will not allow any concessionary agreement to hold me down or hold the progress of the nation down.” He also spoke of partnership with insurance companies to handle the challenge of flight delays and

cancellation in the country. According to him, once there is a delay or cancellation, the insurance companies "will buy the tickets from passengers" and see how they can later recover their money from the airline. Keyamo added that the ministry was working towards compelling airlines to give rebates as a form of compensation for delay or cancellation. He said going forward the ministry will compile the list of airlines in the habit of flight delays and cancellations for necessary action. On the national carrier, the minister, who avoided comments on the failed national carrier on the grounds that the Economic and Financial Crimes Commission (EFCC) was currently investigating the matter, stressed that no local airline would be adopted as a national carrier. "I am saying it as a matter of policy...we will establish a proper national carrier," he said, adding that efforts are on to get a better deal this time.

It stated, “Banks in Nigeria have been profiting from forex revaluation gains. The new regulations may impact their profitability, especially if they are holding significant net-long positions that need to be liquidated. “Banks may need to adjust their strategies to comply with the guidelines, affecting their revenue streams.” In addition, the report stated that currency appreciation resulting from banks complying with the circular could contribute to overall economic stability, as a more stable forex market enhanced predictability for businesses, investors and consumers, fostering a favourable economic environment. It added, “The CBN's circular is

a significant regulatory intervention aimed at curbing speculative practices in the banking sector. The impact on liquidity and the economy will depend on the extent to which banks comply with the guidelines and how swiftly the market adjusts to the new regulations. “In the coming days, it is crucial to closely monitor market reactions, compliance levels among banks, and any potential ripple effects on broader economic indicators.” Similarly, providing more context into the reasons behind the apex bank’s latest regulatory intervention in the market, Founder of Nairametrics, Continued on page 34

FEMI OTEDOLA EMERGES CHAIRMAN OF FBN HOLDINGS growth. According to the statement, “Otedola is a strong leader with a track record of achievements in business and always aiming to make things better and adding value in areas where pioneers have trod.” The statement added regarding Otedola, “He was thrust into the public’s consciousness with his foray into the downstream sector of the oil industry when he started Zenon Petroleum and Gas Limited. “Zenon disrupted and redefined the standards in the sector and to ensure that his very high standards are met, he also invested in storage, shipping, insurance brokerage and port agency and petroleum retail outlets, building a formidable, value-driven presence along the downstream value chain. “In his quest to grow his foothold in the sector, he initiated the purchase of majority shareholding in the then African Petroleum Plc in May 2007 and joined the Board as Chairman of the Board on May 25, 2007. “His vision transformed African Petroleum Plc into Forte Oil Plc. The company grew in leaps and bounds to become a model of the possibilities inherent in Nigeria, winning numerous accolades in recognition of the successful business turnaround, diversified portfolio, prompt financial reporting, strong corporate governance and investment of choice within the oil industry and the Nigerian Stock Exchange.” The statement also said concerning Otedola, “He divested from the company when he accepted the offer of the Ignite Consortium, led by Prudent Energy Services Limited, for his entire shareholding in December 2018 and handed over control upon completion of the transaction in June 2019 “The divestment from Forte Oil Plc and his acquisition of FO Plc shares in Amperion Power Distribution Company Limited, the SPV for the acquisition of controlling shares in Geregu Power Plc, led to him facing the power sector squarely as the company’s Executive Chairman. “This is in continuation of his long term interest in the power sector dat-

ing back to 2007, when he made the very strategic decision to participate in the privatisation programme of the Nigerian government and his doggedness culminated in the acquisition of a majority stake in the 414MW Geregu Power Plant by Amperion Power Distribution Company Limited in August 2013 (a plant which has since been overhauled and improved to a 435MW installed capacity) contributing approximately nine per cent of the generating capacity available to the national grid. “He has held several board memberships, including President of the Nigerian Chamber of Shipping and as past Chairman of Transcorp Hilton Hotel, Abuja. He was appointed Member of the Governing Council of the Nigerian Investment Promotion Council (NIPC) in January 2004 and in December the same year, he was appointed as a member of the committee saddled with the task of fostering business relationships between the Nigerian and the South African Private sectors. “He was a member of the National Economic Management Team under the chairmanship of former President Goodluck Jonathan from September 2011 to May, 2015 and The Honorary International Investors Council under the leadership of Baroness Lynda Chalker. He is currently a member of the revered National Peace Committee. “Femi was further recognised for his immense contributions to the growth of the Nigerian economy with the conferment of the prestigious National Honour of ‘Commander of the Order of the Niger- CON’ by Former President Goodluck Jonathan in May 2010. “A philanthropist with deep involvement in educational causes at all levels via the Sir Michael Otedola Scholarship Awards Foundation, he has continued to demonstrate his passion for his Epe community, in particular, and Nigeria, in general, committing huge financial resources to the sponsorship of promising but financially disadvantaged students.” The stock price of FBN Holdings closed trading at N21.7 per share on January 31, 2024 on the NGX.

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COURTESY VISIT TO THE MINISTRY OF SOLID MINERALS DEVELOPMENT... L-R: Political Counsellor, British High Commission, Tom Burger; Senior Political Adviser, British High Commission, Wale Adebayo; Minister of Solid Minerals Development, Dr. Dele Alake; British Deputy High Commissioner, Jonny Baxter; and Trade Market Access Lead, UK Department for Business and Trade, British High Commission, Simeon Umukoro, during a courtesy visit to the Ministry of Solid Minerals Development oﬃce in Abuja, last Tuesday

Tinubu Flays Labelling, Blanket Stereotyping of Nigerians over Cybercrimes, Corrupt Practices Assures EFCC of government’s support in combating digital offences Olukoyede seeks total partnership against illicit activities Ooni, Sultan laud president for stepping up fight against graft Deji Elumoye ÓØ ÌßÔË President Bola Tinubu has deplored mislabelling and blanket stereotyping of Nigeria as a country with the highest prevalence of cybercrime and other forms of corrupt practices among its population. He such undermined a majority of the citizens, who still maintained the principles of integrity and diligence. Tinubu regretted that over the years, the entire Nigerian populace had been linked with internet crimes without statistical proof, a development he said was out of tune with the way of life of the typical Nigerian citizen. The president made the observation yesterday during a public engagement on youth, religion, and the fight against corruption, as well as the launch of inter-faith manual and fraud risk assessment project for MDAs in Abuja. Organised by the Economic and Financial Crimes Commission (EFCC), the event was a multi-dimensional stakeholders’ involvement in the fight against economic and financial crimes. Tinubu, who was represented by Vice-President Kashim Shettima,

noted that on the contrary, Nigerians were meticulous, authentic citizens, who had been making significant contributions to innumerable fields of endeavours around the world. “Over the decades, Nigerians have been victims of mislabelling. Such gross misrepresentation fails to reflect the true essence of our diverse and resilient nation. “The association of internet crimes with the entire Nigerian populace lacks statistical evidence and does not align with the sociology of everyday Nigerians. “Our nation comprises hardworking, honest citizens, who contribute significantly to various fields globally, from Artificial Intelligence to medicine. “While we reject blanket stereotyping that undermines the majority upholding principles of integrity and diligence, we must face the fact that we function in an interconnected world where cybercrimes have evolved into a global phenomenon. This poses a threat not only to our nation but to the entire world," he said. Delivering his speech titled: “Youth, Religion, and Our Battle Against Corruption: A Call to Action,” the president applauded

the EFCC “for remaining a moral compass, persistently rousing the nation's conscience.” He said through its operations, the commission has remained vocal in “telling the world that Nigeria is neither complicit nor complacent in confronting the menace of corruption.” Underscoring the urgency of combating internet crimes and neutralising the threat caused by other forms of corruption head on, Tinubu assured the anti-graft agency of “the government’s support in its quest to combat these digital offences. “We must recognise that the Commission's lawful efforts to bring fraudsters to book are imperative for the overall wellbeing of our society. “The government is aware that our ambitious goal of eradicating internet offences and corruption demands an atmosphere steeped in trust and integrity. “We must foster open communication channels and ensure that law enforcement actions align with justice and accountability,” he added. The president also stressed the need to remind Nigerian youths that there were abundant opportunities

for lawful enterprises, both within and outside the shores of the country. This, he said, was the reason the federal government had taken steps to establish a Students Loan Board to address the financial needs of students. “This initiative aims not only to alleviate financial burdens but also to disincentivise criminality by offering a tangible alternative. Our message to the youth is clear: the horizon is wide, and opportunities abound across various sectors. “Seize these prospects, embark on lawful enterprises, and let your talents shine. The government encourages you to leverage these opportunities, exhibit your capabilities across all sectors, and contribute to the prosperity of our great nation,” he said. Tinubu also lauded efforts by the EFCC to tackle corruption through the Inter-Faith and Fraud Risk Assessment Projects, saying the “initiative recognises the potential of religion as a tool for ethical reformation and underscores the importance of engaging diverse faith communities in our fight against corruption. “Simultaneously, this initiative addresses vulnerabilities

within government agencies and acknowledges the critical need to fortify these institutions against corrupt practices. “Our nation is deeply rooted in religious values, and it is crucial to acknowledge that both Christianity and Islam vehemently condemn corruption. With these profound teachings in mind, I urge our revered religious leaders to demonstrate a pillar of guidance,” he added. Earlier, Chairman of EFCC, Mr Ola Olukoyede, said the launch of the interfaith manuals and the Fraud Risk Assessment Project for MDAs were geared towards engaging relevant and critical stakeholders in the reinvigorated anti-corruption fight in the country. He said the prevalence of cybercrime and related activities involving youths is worrisome and necessitates the adoption of proactive measures by the commission under his watch. Olukoyede also spoke about the involvement of religious organisations in illicit activities, including money laundering and urged leaders across different groups to partner the commission by propagating messages that glorify the virtues of integrity, honesty and hard work.

In his goodwill message, Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), emphasised the significance of paying more attention to preventive measures in the renewed fight against corruption. He urged religious leaders, traditional rulers, heads of tertiary institutions in the country and youth groups to take ownership of the reinvigorated anti-corruption crusade under the Tinubu administration. In separate remarks, President of the Christian Association of Nigeria (CAN), Archbishop Daniel Okoh; Sultan of Sokoto, His Eminence, Sa’ad Abubakar III, and the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, were unanimous in their commendation of President Tinubu and the EFCC for the administration’s commitment to the fight against corruption in Nigeria. They declared the total support of their various communities and groups to the renewed fight against corruption that prioritises prevention. They, however, urged political leaders at all levels to intensify efforts and lead by example as well as ensure the review of existing laws to prevent corrupt activities in public and private establishments.

Lokpobiri Confirms Negotiations to End $1.3bn OML 245 Dispute Says Tinubu eager for bloc to resume production Minister of State for Petroleum Resources, Heineken Lokpobiri, has confirmed that negotiations are on to finally end the disputes surrounding OML245 so the bloc can resume production in the national interests. The President had directed the Attorney-General of the Federation, Lateef Fagbemi (SAN), the Minister of State for Petroleum Resources and other agencies of government to clear all court cases around the $1.3bn deepwater OML 245 oil block located in southern Niger Delta. Other agencies that also received the order include the Economic and Financial Crimes Commission, Nigerian Upstream Petroleum Regulatory Commission and Nigerian National Petroleum Company Limited. Lokpobiri disclosed this in Abuja yesterday, as he revealed that parties in the deal were currently negotiating to end the over 28 years crisis and litigations surrounding the prolific oil block in the next one month. The Malabu OML 245 deal and subsequent litigations with the

Nigerian government is a complex and long-standing saga involving allegations of corruption, fraud, and legal battles. The oil block in question, OML 245, is considered one of Nigeria’s most prolific oil blocks. In 1998, Malabu Oil and Gas, a company with links to former Nigerian Minister of Petroleum, Dan Etete, acquired the block for $2m. In 2001, the Federal Government under former President Olusegun Obasanjo revoked Malabu’s license due to “questionable practices.” In 2006, Malabu challenged the revocation in court, eventually reaching an out-of-court settlement with the government under former President Umaru Yar’Adua. In 2011, Shell and Eni, two major oil companies, acquired the block for $1.3bn from Malabu in a deal approved by the Nigerian government. But since then there have been allegations and litigations, as Transparency International and other anti-corruption groups alleged bribery and corruption in the deal,

with funds allegedly funneled to Nigerian government officials. This resulted in litigations involving Nigeria versus Eni and Shell, as the Nigerian government under former President Muhammadu Buhari pursued legal action against Eni, Shell, and Malabu, alleging corruption in the deal. Commeting on the issue, Lokpobiri said, “The previous administration initiated most of the cases that we are talking about today, and they took us to court, while we took Eni, Malabu, others to different courts in Europe, Canada, etc, but we didn’t win any of the cases. “To even shock you, there is one that got us a penalty of over 70 million pounds. How did that happen?” He explained that JP Morgan sued the government for trying to dent its image in the saga, adding that the penalty was now binding on Nigeria. “So we have been fined over 70 million pounds by the court. Who will pay that? You and I will pay that, or our children will pay,

because it is a judgement debt. And in all the ones that we pursue both in Switzerland and other locations, we have no evidence to get “And so it makes sense for this government to come and say that for 28 years, this block has been idle. This block is a prolific block that will add so much value to our economy, so let’s see how we can resolve the problem. conviction. He noted that at the last meeting, “we said parties should go on with negotiations and within one month we convene and see how we will be able to sort out all the issues so that the investment can continue.” Asked to state the parties of the Federal Government interfacing with Eni and Shell, he replied, “The Attorney-General of the Federation is the one leading the delegation. We have the NUPRC, EFCC, NNPC, and the Minister of State for Petroleum. “So we are very transparent about this process. We have the full government in resolving this matter. Everything is being done transparently. This process has

nothing to benefit the President as an individual. “But as President and Commanderin-Chief, his interest is the welfare of Nigerians and to attract requisite investments to the sector so that Nigerians can benefit from this God-given natural resources. “And this block has been embroiled in one form of litigation or the other for 28 years. It doesn’t make any sense for us to continue dragging the case, because again, the world is moving towards the abandonment of fossil fuels.” Lokpobiri stated that if Nigeria fails to get the investments in the block now, the country would never be able to attract capital to invest, because it would require billions of dollars. The block had witnessed international cases as investigations and legal cases were also opened in the United States, United Kingdom, Italy, and Netherlands. On the outcomes, it was reported that in 2018, the US Department of Justice closed its investigation without

charges. In 2020, the US Securities and Exchange Commission closed its investigation without finding evidence of wrongdoing. In 2021, the Italian court acquitted Eni, Shell, and all defendants of corruption charges. In 2022, Nigeria dropped its $1.1bn suit against Eni and lost its $1.7bn claim against JP Morgan terkait with the deal. In 2023, the former AttorneyGeneral, Abubakar Malami, advised Buhari to terminate further litigation due to low chances of success and potential economic benefits of developing the block. The Malabu OML 245 deal remains controversial, with lingering questions about corruption and the legality of the transactions. The Nigerian government is considering ending further litigation and potentially allowing development of the block to proceed. The Malabu OML 245 case highlights the challenges of corruption in the extractive industries and the complexities of international legal battles involving multiple jurisdictions.

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NEWS

PRESENTATION OF THE FIVE-VOLUME COMPENDIUM TO BUHARI... L-R: Nigerian Biographer and Corporate Historian, Dr. Udu Yakubu and former President Muhammadu Buhari, during a re-presentation of the ﬁve-volume compendium titled 'Muhammadu Buhari: The Nigerian Legacy (2015-2023)' to the former president at his home in Daura, Katsina State...recently

1999 Constitution Review: House Receives 40 Bills for Amendment Committee sets December 2025 deadline for completion of work Juliet Akoje in Abuja The Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu has disclosed that 40 bills have already been received for the commencement of the 1999 constitution review. Kalu while speaking at the preinaugural, meeting of the House of Representatives Committee on the Review of the 1999 Constitution yesterday in Abuja, said that the work of the committee will be

completed by December, 2025. He added that the constitution review committee will be officially inaugurated on February 26, 2024. "It is also the view of Mr. Speaker that we set a realistic timeline that does not conflict with electoral activities which would advertently or inadvertently affect the alteration process, specifically, December,2025, the time we are looking at to conclude the activities of this committee. “It is not out of place to guess that

there is some level of fatigue in the Amendment process by some vocal sections of the populace. Whatever opinion you hold, it is important to let you know that we presently have 40 bills that are at various stages of consideration which relate to the alteration of the constitution. "The committee will take into consideration the concerns of Nigerians and bequeath on the nation a constitution that will reflect the yearning of the people. The committee will also consider

some important bills that failed to receive the needed attention in the last constitution review and the sponsors and promoters of the bills to carry early and thorough advocacy on the bills," he said. He added that the committee was fully aware of the concerns of

Nigerians on the need to finalise and conclude discussions around Nigeria’s constitution, but said the nature of Nigeria’s constitution makes it imperative to continually revisit several provisions. Highlighting the parameters of the jurisdiction of committee he

stated that the alteration of the constitution Kalu harped on the need for a robust and collaborative relationship with the Senate and the 36 State Houses of Assembly, whose resolutions he said, are part of the legislative journey to the bills.

Shettima to Broadcast Media: Make Unity, Inclusivity Your Priority

Stock Market Gains N14.44tn in Jan, 2024 Wants action on poverty, drug abuse

Kayode Tokede

Investors have continued to reap bountifully on the Nigerian Exchange Limited (NGX) as economic reforms by the new government lifted stock market capitalisation by N14.44 trillion in January, 2024. The N14.44 trillion gain in market capitalisation is coming on the backdrop of rising insecurity, inflation, other macroeconomic challenges, and global uncertainty. Since the beginning of the year, the stock market has witnessed an unprecedented rally and buying interest, especially in the financial services, consumer, and industrial goods sub-sector, which has continued to trigger massive bargain hunting in large company shares. This has pushed the key performance indices and stimulated activities in the market, a development that has led to the rating of the stock market as the best-performing in the world. As of the close of trading January, 2024, market capitalisation stood at N55.358 trillion, representing an growth of N14.44 trillion, from N40.918trillion it opened for trading this year. Similarly, the NGX’s all-share index (ASI), an indicator used to measure the performance of listed firms on NGX, has hit a record high to close at 104,674.67 basis points January 29, 2024. It opened the year at 74,773.77 basis on January 2, implying an increase of 26,380.69 basis points or 35.28 per cent to close January 31, 2024 at 101,154.46 basis points. Sectoral performance revealed

that NGX Banking Index dropped by 3.4 per cent to 866.93basis points from 897.20 basis points it opened this year, while NGX Consumer Goods Index closed at 1,394.05 basis points, representing an increase of 24 per cent from 1,121.29 basis points it opened for trading in 2024. As NGX Oil/Gas Index gained 19.9 per cent to close January 31, 2024 at 1,251.22 basis points from 1,043.06 basis points, NGX Industrial Index emerged the best-performing index, gaining 107.86 per cent to

close at 5,637.83 basis points as of January 31, 2024 from 2,712.27 basis points the stock market closed for trading in 2023. The growth in NGX industry Index has been influenced by soaring demand for Dangote Cement Plc stock. Dangote Cement’s stock price in January appreciated by N443.10 per share or 138.5 per cent to close January 31, 2024 at N763 per share from N319.90 per share it opened for trading this year.

Deji Elumoye in Abuja Vice President Kashim Shettima yesterday called on broadcast media organisations in the country to prioritise national unity in addressing the critical challenges facing northern Nigeria. Giving the charge when the Arewa Broadcast Media Practitioners Forum paid him a courtesy visit at the State House, Abuja, Shettima specifically identified

poverty, insecurity and inclusivity as the major concerns demanding attention. "These are more germane issues,” the Vice President pointed out, even as he also highlighted issues bordering on drug abuse and maternal mortality. Painting a picture of a region facing multifaceted challenges, Shettima said the nation was gradually being bifurcated into a prosperous south and a north

INEC Pledges to Make Voting More Accessible to Persons with Disability Onyebuchi Ezigbo in Abuja The Independent National Electoral Commission (INEC) has assured persons with disabilities in the country of it's readiness to make the voting process much more convenient for them to participate. Speaking at a discussion session organised by the Policy and Advocacy Centre (PLAC ) and sponsored by the MacArthur Foundation yesterday in Abuja, INEC's Director of Gender and Inclusivity, Mrs Lukonaya Bello said that the commission made provisions for materials to assist persons with disabilities at the election. The session which had various groups representing persons with disabilities focused on inclusive elections with special reference

to the provisions made to ensure accessibility for persons with disabilities during the 2023 general election. While responding to concerns over difficulties encountered by persons with disabilities during the elections, Bello said the commission was aware of the shortcomings witnessed during the 2023 poll and is working hard to address them in subsequent elections. "INEC is determined to make to ensure that every eligible voter is enable to vote and participate in the democratic process. the electoral process. "This is about the making of the process accessible by ensuring accessibility of the poling unit and advocacy to stakeholders to make the process accessible," she said. She urged the various groups of

persons living with disabilities to join hands with the commission to ensure overall improvement of the country's electoral system. Bello said that INEC’s pledge for inclusivity is a collective effort to build an electoral system where every eligible voter regardless of their ability or disability is empowered to contribute to building the future of the country. She commended the organisers of the event, PLAC and their sponsor, MacArthur Foundation for its unwavering commitment to inclusivity in the electoral process. She also assured that the commission is taking note of the complaints and flaws trailing the 2023 general election, adding that such lapses will be addressed before future election. The Executive Director of PLAC

, Mr.Clement Nwankwo expressed worry that lot of people are being excluded from participating in governance daily due to so many challenges. He said: " The democracy that we run can only survive if those who we have elected respond to the needs of citizens. "And if it continues as a problem, then government has not been able to find a way to address citizens needs. So the importance of us being able to exercise our ability to choose our leaders is so very important". Earlier, the Deputy Director MacArthur Foundation, Amina Saliyu said that providing for persons with disability should be seen as an important obligation, adding that it can affect all vulnerable segments of the society.

that is in the news for the wrong reasons. The vice president also expressed gratitude to President Bola Tinubu, noting the president’s appreciation of the north and his history of sacrifice for the nation's good. He urged fairness and a deeper understanding of Tinubu's contributions to the region, citing the Pulako initiative, a programme designed to address most of the challenges in the region as an example. Earlier in his speech, Chairman of the Arewa Broadcast Media Practitioners Forum, Abdullahi Yelwa, stressed the need for collaboration between government and citizens to engender participatory democracy. He stressed the importance of "synergy in the collective efforts to move the country forward," offering the forum's partnership. Yelwa highlighted the vast reach of the region's broadcasters, transmitting in various local languages like Hausa, Fulfulde, Nupe, Pidgin, and Kanuri. He expressed concern about the industry's post-pandemic struggles saying the current state of the broadcast industry portends danger. “Since COVID-19, many stations have not recovered from the shortfall in advertisements," he said. Yelwa added that the broadcast industry is the largest and most important industry in managing the citizen’s perception of the government, arguing that the trust deficit between the government and the governed can only be bridged through partnership with them.

THURSDAY FEBRUARY 1, 2024 • T H I S D AY

T H I S D AY ˾ THURSDAY FEBRUARY 1, 2024

POLITICS

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

Lamido: Nigeria is Bedevilled By So Much Anger, Disunity and Poverty In this interview with Chuks Okocha, former two-time governor of Jigawa state, Alhaji Sule Lamido, analyses developments in both the ruling All Progressives Congress and the main opposition Peoples Democratic Party with and emphasised on the need to unite Nigerians in search for a new leadership ahead of the 2027 general election in the country.

authority over the party. But soon after Jonathan flushed out Ogbulafor because of his ambition, which in any case was not the fault of Ogbulafor. The PDP governors who after a meeting said they needed to make a statement to address the northern environment and that in 2011 they are going to get a candidate from the northern basin. It was just a political statement and Jonathan took offence and removed Ogbulafor. From then on, all the people that were in executive, were all minions of the governors who will protect their interest, so don’t blame the present executives. All of them are nominees of former or serving governors and therefore they are more for their masters than for the party. Don’t blame them, that has been the pattern.

t seems the opposition Peoples Democratic Party is gradually going into extinction. How will you and other founding fathers of the party bring back the party? I feel highly agitated, highly concerned about events today in Nigeria. Our national security, our national economy, our national stability, our national cohesion. That bond of brotherhood and sisterhood have all gone. We are back to where we were in 1998 after the death of General Sani Abacha when PDP was formed. The difference then was that the economy was fairly stable and security was fairly stable. But economy and security can only be enjoyed if there is an environment where we mutually believe in each other, mutual trust and mutual respect because if there is no trust, if we don’t believe in each other as a people, as brothers and sisters, as Nigerians, no matter what you do, the economy will not be important to them. It is this understanding of our peculiarities, our differences that make a country. We must appreciate each other. These are the issues. If we are bonded, if there is mutual trust, then the issue of security and economy would be addressed. So what was the situation in 1998 when PDP was formed, and now that Nigeria is facing huge security and economic crisis? Before then, we had a united and stable country. So the first question is how do we deal with this issue of disunity in the country. That issue was what gave birth to PDP. You know that at that time, we had leaders who were thinkers, who were exposed, who had seen it all, who believed in Nigeria passionately, who believed that Nigeria will be there for them when they are going. They were able to give to Nigeria what they got. So, we met in Lagos, former Vice President Alex Ekwueme who is now late, former governor of Oyo State, Bola Ige who is also late, Senator Ella also late, late Mallam Adamu Ciroma, late Solomon Lar, Iyorchia Ayu, Jerry Gana and myself. We sat down and discussed about the future because from the way it was being managed, it will not augur well for Nigeria. Nobody will be able to address that problem that will emanate from the situation under Abacha. We said that we don’t want another northerner like Abacha in power. So we made so many sacrifices and commitments for Nigeria so that we will be able to make Nigeria great. So we can’t get leaders like Adamu Ciroma or Solomon Lar or Abubakar Rimi or Bola Ige or Alex Ekwueme or Senator Ellah, we can’t get them now. So, what we need to do now are those things that can unite us. Suffering, poverty, hardship, lack of clear future are now the major challenges. Every body is feeling unconcerned. The poor man working on the street should be as concerned as Dangote who is a billionaire because we need to consider the interest of Nigeria first. The first thing we need to do is to establish mutual trust. In 1998, we had leaders who came together to think of how to save Nigeria but now we don’t have them. Now that there is hunger, poverty, desperation in Nigeria which were brought by the APC under Muhammadu Buhari and Bola Tinubu. These are the issues. If people are working and whether you are a Muslim or a Christian, if you are not happy in this country called Nigeria, we have been able to find a common unifying denominator. How can PDP become the solution to these problems by APC in the next four years? When you say APC, the party is not organized. APCs formation is not organic. In APC, there are no thinkers what the APC have are power grabbers with a culture of hate. In PDP of course, we are not the best of parties,

Lamido we made our mistakes and people are yet to forgive PDP. But compare and contrast the years of PDP in government with that of APC, it is a two paged history. There are a lot of indicators you can look at: the economy, security etc. Those things which made you feel better under the PDP are many things that people look at and that is what made them to join PDP. In any case, APC is still PDP, the people there are from PDP; Festus Keyamo PDP, Godwill Akpabio PDP, Abdullahi Adamu PDP. Kano State was PDP under Ganduje and all the key elements. People like Keyamo, you know he was a Minister under Buhari and remember what Ribadu said about Tinubu, the people in APC and mainly from PDP and some of their critics. May be by now they have seen the consequences of what they did but if they have not, so be it. What I know is that Nigeria has been there for me and it gave me the

opportunity to grow to my fullest potentials. To be a Nigerian student with honour and dignity, somebody who became Nigeria’s Foreign Minister, the country where I grew to be a governor, so I am hugely indebted to Nigeria. I will do anything to protect the interest of Nigeria. Now go the National Assembly, former governors; go to the Ministries, former governors; are we the only Nigerians? Why cant we also give others space to grow and be like us? Your party has been more than silent, what is preventing it from holding its NEC meeting? This malaise, ambivalence, docility of the PDP leadership is something they inherited. From the time of Vincent Ogbulafor who was forced out by Jonathan, thereafter governors started to appoint their lackeys and boys into leadership of the party. From 1998 to 2007 under Obasanjo, we had Ekwueme, Solomon Lar, Gemade, Audu Ogbe, Amadu Ali. If you look, you will see that these are people who were at home with the history of the party and they were able to enforce their

PDP as it is now is in the pocket of FCT Minister, Nyesom Wike. What is your relationship with Wike. You will not believe it but I mean it, I see in him a huge potential but he is not properly refined. Wike is a future asset but he can’t go anywhere unless he is properly guided and refined by people who understands what is called leadership. So, if he looking for what is going to enter his own pocket, I have no problems with that but is it fair to pocket your own mother? When he said he paid money to the party and bla bla bla, I say do you buy wrapper for your mama? Before she gave birth to you, was she wearing wrapper? Before she gave birth to you, was she going naked? So before Wike started, was the party naked? He met a party that was established, which was being financed, so financing your party because you are a governor is not a big deal. And if you don’t support your party, who will you support? So I don’t think Wike should pocket PDP because you can’t pocket your own mother. Before Wike, PDP was being financed, before Wike PDP was buying wrapper to cover its nakedness. So what is holding PDP from holding its NEC meeting? I don’t know. As a stakeholder and a founding father, are you saying you don’t know what is stalling PDP NEC meeting? I have no idea. The party has a constitution, a tradition, a norm it is operating. There are some items that are clearly stated that you must do so and so thing within a stipulated period of time for NEC meeting, NWC meeting, Convention and other things. So it is for them to follow the constitution, that’s all. So you are not worried?

carry the entire thing about PDP on What were we looking for in a Nigerian President in myI can’t head but I worry about it. 1999? We were looking for somebody with a very As 2027 gets closer, what role will charhuge profile, somebody with the capacity, somebody acter, money and personality play in PDP who will be able to rewrite Nigerian history from what politics? We are back to the same scenario in 1998 when we formed PDP. What were we looking for in we went through from June 12 and Abacha. These a Nigerian President in 1999? We were looking for somebody with a very were the qualities we were looking out for. Then we huge profile, somebody with the capacity, who will be able to rewrite Nigerian looked at the parties and we said, which party will fit somebody history from what we went through from June it. So, we are back to where we were in 1998 because 12 and Abacha. These were the qualities we were looking out for. in Nigeria now there is disunity, there is so much Then we looked at the parties and we said, party will fit it. So, we are back to where poverty, there is so much anger, there is so much hate, which we were in 1998 because in Nigeria now there there is so much poverty, there is people are becoming too satanic. So if we are going issodisunity, much anger, there is so much hate, people too satanic. to save Nigeria then we need to know the quality of areSobecoming if we are going to save Nigeria then we the candidate first. It must be somebody with a big need to know the quality of the candidate first. It must be somebody with a big character and character and morally sound. morally sound.

T H I S D AY ˾ THURSDAY, FEBRUARY 1, 2024

FEATURES

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

How Government Can Keep the Youth Busy with Skill Acquisition Precious Ugwuzor

renowned software developer and cyber-security specialist, Mr. Chidiebere Divinewill Ihediwa has blamed the increasing crime rate on too many idle hands in the

country. The Managing Consultant, Spring Infotech Lab Limited, Mr. Ihediwa, who was of the opinion that since an idle mind is the devil's workshop, if our youths are busy with tangible things to do, they won't tools in the hands of unscrupulous elements to use in perpetrating one crime or the other. Ihediwa, who spoke in Lagos after receiving an award from a security online platform, Cornerstonenewsng com, a subsidiary of Phil Chris Media Concepts, also called for what may be described as knowledge swap among Nigeria's thousands of educated cyber fraudsters, otherwise known as Yahoo Yahoo boys. The information technology guru was recently honoured at the Police Officers Mess, GRA Ikeja. He was honoured with a Star Award in Cyber-Security Development and Data Analysis in Nigeria. According to Ihediwa, knowledge can be categorised into two- positive and negative, adding that even if there are many educated young men among the cyber fraudsters, their inherent knowledge is at variance with the ideal positive knowledge needed for societal development. He therefore, called on the Economic and Financial Crimes Commission (EFCC) to devise a method of re-orientating the educated Yahoo Yahoo boys arrested by the agency towards becoming information technology specialists, rather than allow them rot away. Ihediwa, also advised the federal government to engage the teaming youths skill acquisition as it is one of the solutions to curb crime in the society. "Instead of being idle, the youths, especially the non educated ones should be engaged in skill acquisition after which the government and other well meaning Nigerians and corporate organisations should assist them with money to set up businesses. After setting them up , they will be too busy to engage in crimes," he opined. The Cyber-security specialist thanked management of Cornerstone.ng for bringing him to the lime light through the award. Mr. Ihediwa who was accompanied to the award ceremony by his wife also paid tribute to his parents who gave him early

Mr. Oji with Mr. and Mrs. Ihediwa after the cyber-security expert bagged the Star Award in Cyber-Security Development and Data Analysis in Nigeria opportunity to acquire education up to the university level where he subsequently studied computer science. In his welcome address, representative of Cornerstonenews.ng.com, Mr. Chris Oji said Ihediwa who was among nominees for award late last year, was unavoidably absent at the occasion hence management chose to bestow the honour on him in the new year. He stated that Mr. Ihediwa rightly deserved the award in view of his outstanding contributions to software development and information technology in Nigeria generally. Born on February 16, 1964, at Otulu Amumara, in today’s Ezinihitte Mbaise Local Government Area of Imo State, Nigeria, Mr. Chidiebere Divinewill Ihediwa has grown to become a renowned computer scientist with specialisation in software development with a strong bias in cyber-security, following his graduation from the prestigious University of Nigeria, Nsukka in 1985. Supported by his parents who were professional teachers, he had begun his primary education in his native Mbaise community where he displayed early sign of his future potentials. Interestingly he received the Federal Government Merit Award for academic excellence while in the university. He was an active participant in various research projects in software development, data analysis, and machine learning, which involve working with datasets to extract meaningful insights or develop predictive models, exploring data visualisation tech-

niques, implementing machine learning algorithms, and analysing large datasets using statistical methods. With a Master of Computer science degree majoring in Data Analysis and Big Data from the University of Lagos, Ihediwa became more poised for greater achievements. His career in the information technology space began in 1986 as National Youth Service Corp intern at Shell Petroleum Company, one of the largest multinational oil and gas companies, known for its commitment to innovation and technology. Working in the IT department of such a reputable company provided valuable experience and opened doors for him to future opportunities in the industry. Over the years, he had stints in a places like Personal Computers Ltd, National Electric Power Authority (NEPA), Mandilas Group Nigeria, an iconic Nigerian brand and conglomerate that operates in various sectors, including real estate, oil and gas, telecommunications, and power and a diverse portfolio of businesses that cater to the needs of the Nigerian market. In 1993 he began working at KPMG Peat Marwick Ani Ogunde, a professional services firm, the numero uno of consulting that combines the expertise of KPMG, Peat Marwick International, and Ani Ogunde & Co. to provide a wide range of services to clients across various industries. In is imperative to state that the

experiences gained at various positions cutting across oil industry, government parastatal, private company, multinational conglomerate, financial Institutions and Consulting helped to horn his expertise in Information Technology, thus affording him a thorough understanding of both business and technology and creating a mechanism to capture and share these experiences. Being an outstanding IT expert, Mr. Ihediwa displays unfathomable combination of technical expertise and soft skills which include programming, cyber-security, machine learning and data analysis with Soft skills such as communication, problem-solving, adaptability, time management, and leadership. Besides, he is a Certified Information Systems Security Professional (CISSP) and has CompTIA Security+ certifications. Also a Certified Analytics Professional (CAP), a globally recognised certification offered by the Institute for Operations Research and Management Sciences (INFORMS). He is a long-time member of the Nigeria Computer Society (NCS), a professional association that represents the interests of computing professionals and organizations in Nigeria with the sole aim of enhancing professionalism. Mr. Ihediwa has made remarkable contributions to the development of cyber-security, Data Analysis, Big Data and machine Learning etc. practices in Nigeria. His expertise has been instrumental in helping organisations across various sectors protect their digital assets from cyber threats and gain better understanding of business processes. The reputation is achieved by providing consulting services to numerous government agencies, financial institutions, telecommunications companies, and other organisations in Nigeria and these have unarguably helped these organisations identify vulnerabilities, implement robust security measures, and develop incident response plans. It is without doubt that Mr. Ihediwa has proven himself as exceptionally outstanding cyber-security expert who has made substantial contributions to the field in Nigeria. He is passionate about his corporate and social responsibilities, and one of the primary ways is through free training initiatives aimed at enhancing the skill sets and knowledge bases of both employees as well as the broader community. Besides, he is providing training in cuttingedge programming languages for the university community especially youths through his “Catch Them Young” initiative.

Zeez Designs Raises the Bar with Grand Styles, Innovative Offerings Precious Ugwuzor Zeez Design, a beauty outlet based in Ibadan, is poised to usher in a new era of style and sophistication with its upcoming grand relaunch in the coming weeks. Under the leadership of Jumoke Azeez, one of Nigeria’s most creative young designers, Zeez Design has announced that it has undergone a number of extensive transformation aimed at bringing utmost satisfaction to its growing clientele. The company has invested huge amounts into remodelling of its facilities, including a redesigned office space featuring a customercentric reception and a chic showroom that reflects the brand’s commitment to excellence. Leveraging cutting-edge technology, Zeez Design has integrated modern fashion machines and equipment into its production processes, ensuring efficiency and sophistication in crafting bespoke designs for its discerning clientele. Its Executive Creative Director, Jumoke Azeez, who expressed her enthusiasm about the evolution of the fashion outlet, emphasized its potential to redefine the fashion experiences of customers in Ibadan and beyond. She said, “The focus is on providing a comprehensive fashion solution for clients synonymous with luxury and class. “We have meticulously redesigned our space, incorporating state-of-the-art tailoring machinery and top-notch services to cater to the ever-evolving tastes of our clients. We promised a complete beauty outfit with a distinct purpose. Renowned for her distinctive party and office

CEO Zeez Fashion and her masterpiece wears, Jumoke Azeez revealed the introduction of ready-to-wear lines to complement the existing offerings, as she pointed out that this strategic addition will cater to the needs of upscale and mobile fashion enthusiasts, expanding the brand’s reach and accessibility. In a move to meet the diverse fashion needs of its clients, Zeez has also unveiled

complementary outlets offering quality bags, shoes, and jewelry from globally acclaimed companies. Jumoke affirmed the brand’s commitment to grow fashion education, highlighting that Zeez will continue to operate its fashion schools, renowned for delivering high-quality theoretical and practical fashion courses. The

curriculum includes comprehensive business development and marketing programs. As Zeez Fashion prepares for its grand relaunch, the brand is set to leave an indelible mark on the fashion landscape, promising an elevated and inclusive experience for all fashion enthusiasts in Ibadan and beyond.

THURSDAY FEBRUARY 1, 2024 TR

UT H

& RE A S O

Thursday February 1, 2024 Vol 27. No 10520

opinion@thisdaylive.com

www.thisdaylive.com

PRIORITISING THE EDO AGENDA KINGSLEY OGHIDE contends that the Edo people should go for a leader who embodies competence and character

See page 25

LAGOS’ RESCUE PLAN Lagos State government is committed to the welfare of the people, argues ADEOBA OLORUNTOBI

See page 25 EDITORIAL

THE BANE OF UNCONTROLLED POPULATION

It is difficult to expect a single police force to patrol and effectively control the country, writes ALIYU MOHAMMED GUSAU

RETHINKING NATIONAL SECURITY STRATEGY The passing out ceremony of the newly established Community Protection Guard affords us the opportunity to reflect on the security challenge we confront not only in Zamfara State but also across Nigeria. In doing that, I cannot but commend this initiative that seeks to address a lingering problem that has sparked a massive humanitarian crisis for hundreds of thousands of our people. Aside from those who have lost their lives in recent years, numerous others have been displaced and denied access to their settlements, farmlands, education, and healthcare facilities. I stand here today not as a politician, but as a non-partisan father figure who has the best interests of our community and our country at heart. That explains why for more than a decade, I have utilized the Gusau Institute, a non-profit think tank and research entity I founded, to facilitate national discourse on issues concerning human security and good governance. It is particularly noteworthy that on two occasions, we brought together various stakeholders to discuss the importance of effective policing in Nigeria as a way of addressing these pressing challenges. With an estimated population of 223.8 million, and a diverse terrain covering 923,768 square kilometres, Nigeria is a difficult country to secure. Therefore, expecting a single police force to patrol and control such a large and complex nation effectively is a very tall order indeed. Time has come for us to rethink this strategy in the best interest of our country. Currently, innocent lives are lost daily as terrorism, banditry, kidnapping, armed robbery, organised crime, drug trafficking, human trafficking, and cultism become the order of the day in theatres across Nigeria. While perpetrators now act with impunity, additional deployment of the military to hotspots has not achieved the desired results. Therefore, this initiative by Zamfara State Government, which complements activities of the regular police force, within the ambit of the law is the right way to go. However, for it to succeed, strategic consideration should be given to creating appropriate support structures across the board. We must understand that security is a community effort and the responsibility of all. Not only the police or armed forces. Naturally, there is a need for greater interagency collaboration, but also for cooperation between government and the private sector. From the common man on the street to traditional leaders and state institutions, we all need to join hands to tackle insecurity. Please permit me to quote the Chairman of the Police Service Commission, Dr Solomon Arase, who is also a former Inspector General of Police, on the pivotal role of public-private partnerships to enhance security. These were

his words at a 2023 leadership retreat: “Such partnerships can lead to improved security outcomes by leveraging the private sector’s resources and expertise to complement the government’s efforts. Additionally, these collaborations can foster economic growth, as security plays a critical role in investor confidence.” Arase’s remarks underscore the need for initiatives to support federal efforts on security. Structured and formalised collaboration between the unitary police system (as currently prescribed by the constitution) and state and other private security outfits will contribute to a solution for the myriad security problems that plague our nation and our state. Some states have already initiated structures like the Community Protection Guards to assist the national police. Still, I would like to emphasize that safeguards must be put in place to forestall possible abuse. Taking the broader picture into account, technological advances have had a huge impact on how policing is conducted and viewed. Using technology, intelligence, and data in innovative ways has become a priority in crime fighting efforts. Gathering and disseminating intelligence effectively among all security agencies and outfits on a regular basis, and across state lines, are key to successful action against criminal activities. In this context, local knowledge is invaluable. Effective security is anchored on fully understanding the environment before deploying appropriate tools that involve the buy-in of all critical stakeholders. However, for such collaboration to work, there must be trust, including between and among the security personnel. A recent study about high-performing teams found that trust is the single most important prerequisite for success. So, my charge this morning is to the graduates. You must trust one another if you want to achieve success. But trust must be

earned, and trust must be built – it does not come cheap. I would therefore implore you to get to know all your counterparts, and to share intelligence and knowledge diligently and proactively. Moreover, transparency fosters trust. There should be no room for power struggles or egos in the fight against our common enemies. Let me now congratulate His Excellency, the Governor of Zamfara State, Alhaji Dauda Lawal, for this initiative. As it should be, the idea is to support efforts of the Nigerian Police Force to work towards achieving security in our beloved state. Let me also use this opportunity to urge all the personnel of the new security formation to act with dignity and wisdom when serving our communities, and to fully collaborate with the authorities. You are the heroes of your respective communities who have dedicated yourselves to protecting and safeguarding everyone’s safety. But you must also keep in mind that you are deployed in a supportive role to assist and work with the police and the armed forces. In addition to your other contributions, I believe you will be invaluable in sourcing intelligence regarding what is happening on the ground in your communities. Without that knowledge, it will be impossible to achieve success in stopping the carnage. I would also like to call on the conventional security organisations to provide the best of their support and cooperation for the success of this initiative. The guards are meant to support you in achieving your primary responsibility of protecting lives and property. You are, therefore, implored to make use of this organization and engage them in your various security operations, such as intelligence gathering and response to attacks, among others. Before I take my seat, let me call on the traditional, political, and religious leaders, as well as other community leaders, to support this drive. As community leaders, your support in this direction would inspire members of your communities to equally lend their support to this initiative. Above all, consideration must be given for sustaining the initiative beyond the present administration. It is commendable to know that the state government has decided to establish a State Security Trust Fund, whose Board of Trustees it plans to inaugurate soon. The funds from this trust will be utilized solely for operation purposes as well as provision of equipment and the welfare of operatives. Remarks by a former National Security Adviser, Lt General Aliyu Mohammed Gusau at the graduation ceremony of the Zamfara State Community Protection Guards yesterday in Gusau, Zamfara State

THURSDAY FEBRUARY 1, 2024 • T H I S D AY

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THURSDAY FEBRUARY 1, 2024 • T H I S D AY

T H I S D AY

THURSDAY FEBRUARY 1, 2024

KINGSLEY OGHIDE contends that the Edo people should go for a leader who embodies competence and character

PRIORITISING THE EDO AGENDA In less than 30 days, the political landscape of Edo State will witness a transformative moment as political parties gear up to select their flag bearers for the highly anticipated governorship elections in September. This crucial juncture demands a meticulous evaluation of candidates based on key criteria that extend beyond regional agendas, focusing on competence, accountability, and the

overall development of the state. As discussions unfold regarding regional aspirations such as the Esan Agenda, Edo North Agenda, and Benin Agenda, it is imperative to strike a harmonious balance. While acknowledging the significance of regional diversity, the primary focus must be on selecting a leader who embodies competence, accountability, and an unwavering commitment to the holistic development of Edo State. The election in Edo State must transcend narrow objectives and concentrate on choosing a leader capable of effectively running the state, addressing the diverse needs of the people, and fostering growth and development that benefits everyone. Candidates should be subjected to evaluation based on their ability to produce tangible results, exhibit wise management of resources, and promote inclusive social and economic advancement throughout Edo State. This is non-negotiable, given the state's grave situation. The advocacy for competence and accountability in the governorship election aligns with the principles of good governance, emphasizing the importance of elected leaders prioritizing the wellbeing and progress of all citizens. This approach encourages transparency, fosters unity, and optimizes the efficient use of resources, allowing Edo State to realize its full potential. Enter Olumide Akpata, a distinguished figure and a true son of the soil, whose leadership qualities seamlessly align with the broader Edo Agenda. Akpata's

exemplary track record in legal practice and advocacy, coupled with his visionary outlook, positions him as an ideal candidate to champion the cause of the Edo Agenda. Akpata's commitment to public service is evident in his unwavering dedication to justice, fairness, and accountability. As a legal luminary, he has consistently advocated for the rights of the marginalized and underprivileged, embodying the principles of good governance essential for comprehensive development. Akpata's clear vision distinguishes him as a source of hope for Edo State, aligning seamlessly with the objectives of the comprehensive Edo Agenda. His grasp of the state's challenges, combined with innovative solutions, illustrates his ability to turn ideas into tangible outcomes. Through strategic planning and successful implementation, Akpata envisions a future where every citizen of Edo State flourishes and succeeds, in harmony with the overarching aspirations of the Edo Agenda. Moreover, Akpata's leadership style is characterized by inclusivity and collaboration, vital qualities for fostering unity in a diverse state like Edo. He recognizes the strength in diversity and seeks to harness it for the collective benefit of all citizens. By bridging divides and building bridges of understanding, Akpata not only supports the Edo Agenda but also contributes to a more cohesive and resilient Edo State. As Edo State navigates the complexities of governance, it is crucial to have a leader like Akpata at the helm—someone who can navigate the delicate balance between regional aspirations and the broader needs of the state. His proven ability to manage resources wisely and promote inclusive social and economic growth makes him the ideal candidate to lead Edo towards a future that respects and prioritizes the Edo Agenda. As voters gear up to exercise their democratic rights, it is paramount to reflect on the enduring consequences of their decisions. By giving precedence to competence, accountability, and inclusive development, the residents of Edo State have the potential to actively contribute to constructing a more robust and prosperous society that caters to the needs of all citizens. So going forward at this stage in the governorship polls, Edo citizens should not be discussing Esan Agenda, Edo North Agenda, or Benin Agenda; competence and track records should be what everyone should be fixated on. Divided we all fail, united, we are strong, Edo State is one family. Oghide writes from Benin City

Lagos State government is committed to the welfare of the people, argues ADEOBA OLORUNTOBI

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26 4

T H I S D AY

THURSDAY FEBRUARY 1, 2024

EDITORIAL

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

THE BANE OF UNCONTROLLED POPULATION An unplanned population is a disaster in the making

stretching to the limits the few infrastructure he United Nations, in its new facilities in the country and contributing in large population prediction, stated that measure to the poor standards of living, there by the year 2050, three of the 10 is indeed an urgent need to address the dire most populous countries in the consequences of the uncontrolled population world will be in Africa. Nigeria, growth. currently rated among the fastest Of course, we are not unmindful of the fact that growing countries in the world, is one of them. some people may dismiss the latest projections Ordinarily this should be a plus for us, but it as mere Western propaganda aimed at keeping is not. The prognosis is that there may come a developing countries from having large WLPH ZKHQ LW ZRXOG EH GL΀FXOW IRU XV WR IHHG populations. They could also point to China and make other necessary provisions for the and India as countries with huge populations ever-increasing number of people. harvesting their “demographic dividends”. Yet As the population of the country bulges the fact being ignored is that China controls its exponentially, Nigerians continue to be ranked population with its one-child per couple policy among the poorest people in the world due until recently while the to high incidence Indian state encourages of unemployment, some form of family p r e d o m i n a n t It is a simple economic fact that population growth that is not matched planning. In any case, production of primary an idle (and largely JRRGV RYHU ÀQLVKHG with commensurate socio-economic development can only breed chaos illiterate population) products, aging public such as we breed in infrastructure, and Nigeria today can only opaque system of be a disaster waiting to governance. The high happen. rate of out-of-school T H I S D AY However, we are not oblivious to religious children and poor output in the education EDITOR SHAKA MOMODU practices and beliefs that frown at any talk DEPUTY EDITOR WALE OLALEYE sector also contribute negatively to deepening MANAGING DIRECTOR ENIOLA BELLO of over population and therefore regard any this problem as the nation churns out a crop of DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU suggestion that hints at birth control as heresy. uncompetitive youth in a new world driven by CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI But it is a simple economic fact that population technology, skills and knowledge. EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN growth that is not matched with commensurate THE OMBUDSMAN KAYODE KOMOLAFE The last census was conducted in 2006 but socio-economic development can only breed after spending over N200 billion the one slated chaos. On a positive note, however, we also for last year was postponed till this year. As understand that at a time when the population things stand, there is no indication that it will of many countries in Europe and Asia is be conducted. Meanwhile, by most projections, T H I S D AY N E W S PA P E R S L I M I T E D ageing, Nigeria’s young population could EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA the population of the country is estimated to be a demographic advantage, but only if GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, hit about 400 million by 2050 meaning that ISRAEL IWEGBU, EMMANUEL EFENI policymakers can design appropriate policies we could almost double the current estimate DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, that will improve productive capacities, and of about 226 million. The implication also ANTHONY OGEDENGBE put our people to work. To the extent that is that our population would exceed that of DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI there is no such thing, then there is the need to SNR. ASSOCIATE DIRECTOR ERIC OJEH the United States, Pakistan, Indonesia and worry. A sustainable society is the one with a ASSOCIATE DIRECTOR PATRICK EIMIUHI Brazil—countries that are far more advanced CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI population growth that enables its members to in development. Against the background that DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO achieve a high quality of life. uncontrolled population growth is already TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

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LETTERS FOR PEACE ON THE PLATEAU It takes eyes and boots on the ground to see. Sometimes, too, ears have to be put on the ground to hear. Timothy Daluk is a Chiarman of the Christian Association of Nigeria. Not for the entire country. That honour belongs to Daniel Okoh. Not even for his entire state, Plateau. Polycarp Lubo is. But of Mangu, currently and easily the most troubled of Nigeria’s 774 local governments. Mangu, the ancestral home of the Mwaghavul people, was largely peaceful. Until the seismic dispatch of the APC-led government and candidate by Caleb Mutfwang. In the election of March 18, 2024, Plateau voters unanimously voted for Caleb Mutfwang of the Peoples Democratic Party. A Native of Mangu. Since Mutfwang won, Mangu has known no peace. His victory has produced a lethal marriage of politics to terrorism which is quickly cutting down his people. 0XWIZDQJ·V FRQÀUPDWLRQ E\ WKH 6XSUHPH &RXUW RQ -DQXDU\ further marked his people for death. 7KLUW\ SHRSOH ZHUH NLOOHG LQ IUHVK DWWDFNV RQ -DQXDU\ +RXVHV churches, and mosques razed. It was when Daluk launched his attack on the Nigerian Army. In the viral video, he accuses them of complicity and even collusion in

the killings. The Defence Headquarters has reacted by inviting Daluk for questioning. CAN in Plateau State has said it will stand by one of its own in what is clearly shaping up to be a tussle between the collar and the khaki. But Daluk should know. He should know what he is talking about. He is from Mangu and he is in Mangu. He is a leader in Mangu. The beleaguered people of Mangu clearly come to rest their battered heads on his shoulders. So when he speaks, he has to be taken seriously. Rather than look for Daluk who has made it clear he will not honour the Army’s invitation, the Defence Headquarters should look at its own. The Nigerian army should examine its ranks. It is QRW WKH ÀUVW WLPH LW KDV EHHQ DFFXVHG RI FRPSOLFLW\ ZKLOH LQWHUYHQLQJ LQ D FULVLV ,W ,V DOVR QRW WKH ÀUVW WLPH SHRSOH ZKR KDYH QR UHDVRQ to lie have laid such weighty allegations at its doorsteps. The few soldiers indicted by Daluk’s revelation may not represent the Nigerian Army. Many people appreciate soldiers for their VDFULÀFHV LQ D FRXQWU\ ZKLFK KDV EHFRPH LPSRVVLEO\ DVVDLOHG E\ WHUrorists. But among roses are a few, sharp thorns. They must now be LGHQWLÀHG $QG UHPRYHG 7KLV ZLOO SURYH GL΀FXOW ,W ZLOO UHTXLUH D GHJUHH RI VHOI VFUXWLQ\ WKH DUP\ LV QRW XVHG WR ,W ZLOO WDNH GUDVWLF DFWLRQ WR ÀQG ODVWLQJ

peace in Plateau State. The insecurity has been resilient and relentless. Only transparency can crack it at this point. Daluk is not the enemy. Neither is the Nigerian army. The enemy is those who move only at night, decapitating children, and burning houses. The real enemies are those who occupy abandoned ancestral lands. They are the ones that deserve to be fought to a standstill. The Nigerian army must immediately commission an audit of all soldiers. Especially the soldiers who go to the front lines. They must be seen to stand with Nigerians and no other. For peace and unity Professionalism and prudence demand that this is done immediately. All cannot be fair in war with what is happening in Plateau State. For peace to become a reality, all those who work for peace must be above board. 6ROGLHUV LQ FRQÁLFW VLWXDWLRQV DUH DOVR SHDFHNHHSHUV DQG PDNHUV To keep peace, professionalism, restraint, and a strong sense of justice are invaluable. The chaos in Mangu Local Government Area in is rather regrettable. It appears that the governor’s kinsmen are paying a price for producing the state governor. Timothy Daluk’s outburst could have been more measured. But a leader in his situation is a leader under back-breaking pressure. Ike Willie-Nwobu, Ikewilly9@gmail.com

T H I S D AY ˾ THURSDAY, FEBRUARY 1, 2024

BUSINESSWORLD R A T E S MONEY MARKET

A S

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REPO

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

08056356325

J A N U A R Y

S & P INDEX

3 1 , 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

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15.75%

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-0.7%

Report: Wide Skills Gap, Unclear Roadmap, Investment Priorities Hampering Growth of AI

Emma Okonji A report by Boston Consulting Group (BCG), a global management consulting solutions’ company has revealed wide skills gap, unclear roadmap and investment priorities are hindering the growth of Artificial Intelligence (AI). According to the report, 66 per cent of global and 65 per cent of African executives surveyed, were dissatisfied with the progress their companies made in the expected productivity gains from AI and Generative AI (GenAI). The survey, BCG said, featured more than 1,400 C-suite executives

in 50 markets, including Africa. Generative AI exploded into the public consciousness in 2023, promising to transform the way business functions, but despite the potential, leaders are struggling to convert hype into reality. The report said the dissatisfaction of global executives on the progress of AI, is based on three primary reasons: a lack of talent and skills (62 per cent), an unclear AI and GenAI roadmap and investment priorities (47 per cent), and absence of strategy regarding responsible AI and GenAI (42 per cent). Giving details of the report, BCG’s CEO, Christoph Schweizer, said:

“This is the year to turn GenAI’s promise into tangible business success. Almost every CEO, myself included, has experienced a steep learning curve with GenAI. When technology is changing so quickly, it can be tempting to wait and see where things land. But with GenAI, the early winners are experimenting, learning, and building at scale.” The report, titled: “BCG AI Radar-From Potential to Profit with GenAI,” said 71 per cent of global executives surveyed, plan to increase tech investments in 2024, which is 11-point jump from 2023, as even more 85 per cent plan to increase their spending on AI and GenAI.

While more than three-quarters (77 per cent) of African executives plan to boost their tech investments, less than half (43 per cent) puts AI and GenAI as their top tech priority for 2024, compared to half (51 per cent) globally. 82 per cent of executives in Africa plan to increase their AI and GenAI investments in 2024, compared to 85 per cent overall. 54 per cent of global leaders already expect AI to provide cost savings this year, primarily through productivity gains in operations, customer service, and Information Technology (IT), the report said. Managing Director and Partner at BCG South Africa, Nihmal

Marrie, said: “African executives are among the most optimistic in expecting productivity gains from AI and GenAI. More than half (59 per cent) are expecting 10 per cent or more productivity gains from AI and GenAI this year compared to less than half (46 per cent) of executives globally.” Global Leader of BCG X and a Co-author of the research, Sylvain Duranton, said: “Generative AI is radically reshaping businesses. Leading companies on the GenAI front are planning to realise up to $1 billion in productivity gains, and they are already looking at ways to reinvest into new business models

and growth. This is a second chance for companies who missed the first AI wave.” “Although a small percentage of companies are already reaping the rewards of AI and GenAI, others are either playing catch up or standing on the sidelines, the report said, adding that more than 60 per cent of global executives surveyed say their firms are still waiting to see how AI-specific regulations develop, just as six per cent of global companies have trained more than 25 per cent of their people on GenAI tools so far. The story continues online on www.thisdaylive.com

Slow Expansion of Telecoms Infrastructure, InfraCos’ Underperformance Worry NCC Emma Okonji The Nigerian Communications Commission (NCC), the telecoms industry regulator, is worried about the slow pace of the expansion of telecoms’ infrastructure across the country, blaming the situation on underperformance of Infrastructure Companies (InfraCos) that were licensed to provide telecoms infrastructure for the country. InfraCos were licensed by NCC in all the six geopolitical regions to provide telecoms infrastructure for service providers to ride on for their network expand across

the country, but the InfraCos are unable to provide the necessary infrastructure for telecoms expansion as a result of the challenging business environment. The Executive Vice Chairman of NCC, Dr. Aminu Maida, who stated this during a media parley in Lagos, identified some of the challenging business environment to include multiple regulation and multiple taxes among others, but however said regulation of the telecoms sector at the state level would be inevitable, since states are autonomous body as enshrined in Nigeria’s constitution. He however

said through collaboration with the state governments and their agencies, NCC could address some of the overlapping regulations. “The telecoms sector has not had enough progress as it wanted with the licensed InfraCos, but NCC will do more of advocacy to drive telecoms infrastructure development in the country. In the area of Critical National Infrastructure (CNI), NCC has done a lot of stakeholders’ engagement, gathering data and looking at the impact in terms of cost when it comes to damages done to fibre infrastructure and how much of service disruption it

is creating for the sector,” Maida said, while fielding questions from journalists. Reacting to the concerns of the NCC boss, the Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, told THISDAY in an interview that unless the government at all levels address the challenges facing InfraCos and telecoms operators in the country, the sector would continue to experience slow growth rate in telecoms’ network expansion. He listed some of the challenges to include: Challenge to Right of

Ways (RoWs); Challenge of access to funds; Challenge of commercial viability in certain locations across the country; and Challenge of unstable telecoms infrastructure, among others, “If these challenges are not addressed, it will be difficult for InfrCos to survive and deploy telecoms’ infrastructure across the country. The period of time required for Return on Investment (RoI) for telecoms infrastructure deployment is very wide due to the nature of the business that is capital intensive. Not all the InfraCos can have the same level of access to funding, especially

with the scarcity of Forex. These are the same challenges bedeviling telecoms operators and NCC had to license InfraCos to provide the necessary infrastructure for telecoms operators to ride on and expand their networks, but unfortunately, the InfraCos are faced with the same challenges. So government must rise to these challenges and address them as quickly as possible before they begin to affect the gains of telecommunications in a negative way,” Adebayo said. The story continues online on www.thisdaylive.com

M A R K E T D ATA A S AT W E D N E S D AY, J A N U A R Y 3 1 , 2 0 2 4 BONDS Change Updated Time DESCRIPTION Price Yield (%) January ^13.53 23101.49 12.13 -2,00 16, 2024 MAR-2025 ^12.50 22January 98.58 13.31 1,00 16, JAN-2026 2024 ^16.2884 17January 108.25 13.03 -1,00 MAR-2027 16, 2024 ^13.98 23January 101.70 13.42 -38,00 FEB-2028 16, 2024 ^14.55 26January 103.63 13.55 -96,00 16, APR-2029 2024

BILLS MATURITY

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

2.14

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2.91

2.93

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3.88

3.92

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

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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

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T H I S D AY ˾ THURSDAY, FEBRUARY 1, 2024

BUSINESSWORLD

NEWS

L-R: CEO of Optiva Capital Partner, Dr. (Mrs.) Jane Kimemia; Senior Chief Manager at TIW Capital Group Singapore, Devi. V; Chairman of Optiva Capital Partners, Mr. Franklin Nechi; Senior Director and Business Head at TIW Capital Group Singapore for the Middle East and Asia, Mr. Ranjith Kumar and Executive Director of Business Development at Optiva Capital Partners, Mrs. Amaka Okeke-Lawal during the courtesy visit of TIW Capital Group Singapore to the Optiva Capital Partners headquarters in Lagos… recently

ARCON Boss: Nigeria Needs Data to Meet Global Standard Raheem Akingbolu Director General, Advertising Regulatory Council of Nigeria (ARCON), Dr. Lekan Fadolapo, has challenged Nigeria’s economic drivers and policy formulators on the importance of data to economic growth.

Speaking at a WEBINER on Top Trends in 2024 -Unlocking Insights Media, Consumer and Market, organised by MediaReach OMD and Lagos Business School, Fadolapo pointed out that data has become the new oil and the new gold, arguing that it’s the fuel that

powers innovation and growth in many economies around the globe. He said, “Accurate data is essential for driving productivity, enabling better decision-making, allowing for precise targeting and marketing efforts, and helping to develop and preserve

brand credibility. All of these factors contribute to driving ROI and profitability for brands and agencies alike,” He said it’s imperative that stakeholders challenge themselves to meet and set global standards and practices, which would make the country become a beacon for

Tek Experts, Cytek to Boost Managed Security Service in Nigeria, W/Africa Stories By Emma Okonji Tek Experts, a leading global provider of technical talent solutions, in collaboration with its sister company Cytek Security, has announced the opening of their new cutting-edge Security Operations Centre (SOC) in Lagos, focused on providing advanced cybersecurity services for global businesses across industries. Designed to boost managed security service in Nigeria and other West African countries, the SOC will collaborate with organisations and government agencies to address cybersecurity issues, especially at a

time when cybersecurity risks are high, occasioned by the massive movement of businesses to the cloud. Giving details of the centre during his presentation at the launch of the Security Operations Centre, Head, Executive Sales and Business Development at Tek Experts, Mr. Adewale Adeyemi, said with the launch of the Security Operations Centre, Cytek would be able to handle investigation on critical incidents and also carry out threat hunting and testing in organisations, while the organisation’s Information Technology (IT) department, would concentrate on detecting cyber

threats within the organisation’s network. Fielding questions from journalists during the inauguration of the Security Operations Centre, Country Director for Tek Experts Nigeria, Mr. Olugbolahan Olusanya, said: “The establishment of our SOC represents a major milestone, reinforcing our commitment to bolstering the Nigerian and West African technology sectors. As part of Tek Expert’s dedication to investing in and advancing the Nigerian technology industry, we are pleased to expand our services to include cutting-edge cybersecurity solutions and services, ensuring that

their data and operations remain protected against ever-evolving cyber threats.” The Security Operations Center is operated by a team of cybersecurity experts and delivers a full suite of cutting-edge cybersecurity solutions, providing round-the-clock protection from cyberattacks and facilitates proactive containment through response plans developed in collaboration with clients. Chief Cybersecurity Architect at Cytek, Anat Garty, said: “We are thrilled to establish this crucial cybersecurity hub in Nigeria, extending our reach across West Africa.

BrandXchange Opens CVA Website to Celebrate Brands BrandXchange, organisers of the Consumers Value Awards, a platform that recognises and celebrates value brands across various sectors, has announced the launch of its official website for the nomination of brands for the third edition of the awards. The website, www. consumersvalueawards.com is open from 1st February 2024 till 10th March 2024.

Over the past two editions, more than 50 outstanding brands have been honoured with Badge of Honors, representing excellence in their respective industries. The Consumers Value Awards aims to empower consumers by giving them a voice in recognising brands that go above and beyond to meet their expectations. The theme for this year’s edition

is ‘Empowering Consumers’, reflecting BrandXchange’s commitment to championing consumer rights and fostering a culture of excellence in product development. Founder of BrandXchange and Convener of Consumers Value Awards, Mr. Akonte Ekine, shared insights into the inspiration behind this year’s theme. “Attending the 2023 edition of the Consumer

International Congress in Nairobi was a transformative experience. It became clear that consumers need avenues for expression and opportunities to contribute to product development, especially in addressing issues like healthy feeding. This realization fueled our commitment to empowering consumers through the Consumers Value Awards,” Ekine said.

Konga Hosts Monthly Live Auction Event, Offers Discounts Konga, renowned for its commitment to customer satisfaction and unmatched discounts, is set to delight shoppers with its highly anticipated Live Auction at 2pm on the 5th February, 2024, and subsequently on the first Monday of every month. Th event marks Konga’s dedication to providing customers with incredible discounts on a wide

range of products. The Live Auction is not new to Konga-savvy shoppers. Previous editions have witnessed immense enthusiasm, with hundreds participating in exciting bids for amazing deals on everything from everyday essentials like L’Oreal cosmetics to coveted gadgets such as Apple iPhones, Samsung devices, Haier Thermocool and iTec Power

products. Speaking during the announcement of this month’s edition, Konga’s Chief Operating Officer, Dave Omoregie, expressed the company’s desire to consistently exceed customer expectations, stating, “We are thrilled to answer the call of our loyal customers by introducing the Live Auction. This initiative underscores our commitment to

delivering unparalleled value and excitement to our shoppers.” The Live Auction represents a significant milestone in Konga’s mission to revolutionise the ecommerce landscape in Nigeria and beyond. With its innovative approach to online shopping and dedication to customer satisfaction, Konga continues to set the standard for excellence in the industry, Omoregie said.

others on the continent to follow. “Although Nigeria’s GDP growth over the last decade has been a journey of resilience and recovery, we have faced challenges, and we have also witnessed significant growth and development. Despite these challenges, we remain optimistic about our economic prospects, bolstered by our vibrant entrepreneurial energy and the potential for job creation and innovation. “Economic prosperity is

measured by an increase in gross domestic product (GDP), which is defined as the combined value of all goods and services produced within a country in a year. Globally, economic growth is often driven by consumer spending and investment. Trade is central to ending global poverty, with countries open to international trade tending to grow faster, innovate, improve productivity, and provide higher income and more opportunities to their people, “he said.

Multichoice to Redefine Video Streaming Service Multichoice Nigeria has said the revamped version of its video streaming platform known as Showmax 2.0 would be launched next month. General Manager of Showmax Nigeria, Opeoluwa Filani, said the new application for Showmax 2.0 would be available for download from Jan. 23 while the old application (Showmax 1.0) will cease to exist from Feb. 12, when the new Showmax is introduced. The Chief Executive Officer of Premier League, Richard Masters, who spoke virtually, said: “Africa is incredibly important to the

Premier League and our clubs; 20 percent of Television audiences on any given matchday come from Africa. “We are delighted with this Showmax initiative, which puts the Premier League in your pocket at a new price point so that millions more can enjoy our fantastic competition.” Chief Executive Officer in West Africa, Multichoice, John Ugbe said: “Showmax’s content offering is further boosted by its focus on the African market and strengthened by the vast creative and commercial presence already established by MultiChoice.”

Interswitch, Opay Set to Enhance Digital Payment Experience Interswitch has announced a collaboration with OPay through its Interswitch Payment Gateway (IPG) that will enables OPay users to seamlessly make direct payments for goods and services on merchants’ websites from their OPay Wallet balance. Managing Director of Digital Commerce and Merchant Acquiring (Paymate) at Interswitch, Muyiwa Asagba, emphasised the significance of this partnership in advancing the growth of digital payments in the country. According to him, “At Interswitch, our commitment is to cater to the evolving needs of consumers and merchants, fostering a more inclusive and

dynamic digital payment ecosystem. Through our latest collaboration with OPay, we are excited to introduce a new dimension of payment convenience to users and merchants. The partnership reflects our dedication to introducing innovations that enhance the digital payment experience, and we are eager to witness the positive impact it will have on the entire payment ecosystem.” Vice-President of App and Cards at OPay, Ms. Elizabeth, said OPay remained focused on its commitment to making financial services more inclusive through technology hence the partnership with Interswitch to deliver an innovative payment solution.

THURSDAY, FEBRUARY 1, ͰͮͰͲ ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

George-Taylor: Hill+Knowlton Acquisition Will Boosts Diversification of Risk Chief Executive Officer of Skot Communications, Tokunbo George-Taylor, who recently acquired a global Public Relations firm, Hill+Knowlton Nigeria, which she formerly presided, speaks on the future of PR in Nigeria and why her new agency entered a strategic asset and business transfer agreement with H+K Raheem Akingbolu brings the excerpts. Many experts have predicted that this year will offer Public Relations a lot of engagement from both private and public sectors. Do you share the view? y answer will definitely not be a ‘yes’ or ‘no’ because the question of whether Public Relations business will boom or not, depends on many factors. But if we consider the current situation in the country, vis-a-vis political stability and growing awareness about the power of public relations and its contribution to PR, one can boldly say the future is bright. Again, if we look at the effort being made by the current administration to restructure the economy, it will be difficult to do that effectively without infusing some PR solutions and tips in 2024 to sustain confidence in the market and earn a good image. Let me take a trip down memory lane. When Public Relations started here, it wasn’t as strong as Advertising. If you asked an average Nigerian then, he or she would tell you it’s all about putting adverts in the paper. People never understood what the practice was all about. But, over the years, the practice has evolved. PR professionals have found their niche, and they are doing the job excellently well. What I see now is businesses. No matter how small, they are beginning to appreciate PR whether it’s advocacy, listing a product, profiling your brand, or executive profiling. People are now seeing that PR is extremely important to their business. Before, it used to be the multinationals that leveraged the opportunities provided by PR to enhance their businesses. But, today, we see a lot of Nigerian companies, knocking at the door saying ‘We want PR’. So, I think the space has opened up, even the government has seen what having a good PR strategy is capable of achieving. Specifically, what do you think the new

to happen is that individual executives, desirous of enhancing their careers may also court the profession in the new year. So I think the PR business is really going to transform. Before, people did not see value. But now they can clearly see the value that it offers.

George-Taylor year has for PR? I’m confident that Public Relations practice in Nigeria will continue to grow based on its relevance and importance to the activation of brands. My belief is premised on the increased deployment of public relations by both small and big organisations and individuals for awareness creation and activation of voice. From now on, we are probably going to be seeing more use of local PR professionals by the public and private sector, especially from the public sector. The new regime, at the centre, is likely to engage more local PR professionals to tell their stories. For businesses this year, what is going

Can you shed light on what informed the acquisition of Hill+Knowlton (H+K) Nigeria by the newly established Skot Communications? Hill+Knowlton, a Public Relations agency, had been around in Nigeria for some time. At the beginning, the global firm looked at the market dynamics, and wanted to concentrate more on some other regions. As the pioneer Managing Director of the agency for nine years, I wanted more and sought for more by starting my own business. So, it was an opportunity for me to acquire and start my own PR agency when the strategic asset and business deal came up; an opportunity for me to expand. Interestingly, some of the things you are seeing now, such as the logo, were created years ago in anticipation of this day. Considering the fact that H+K appeared to be doing well, what is the major significance of this acquisition? What new thing are you bringing to the table? I can confidently say that I have seen both sides of the coin. The experience garnered over the years, within and outside H+K has given me the expertise, exposure, knowledge and the know-how to be able to run Skot Communications. For me, it’s a dream come true. Besides, it’s a beautiful transaction because it’s a business and asset transaction, which means that all their clients, all

their employees, are transferred to our new outfit, Skot Communications. So, we are not losing anything from the transaction, and they too are losing nothing. We are not starting from ground zero, and the good news is that none of the members of staff resigned, and none of them will be affected by the new arrangement. It’s a very virile, hardworking and potent workforce, and they were all with me during the H&K days. Besides, none of the clients left, they are all happy to transfer their contracts to Skot Communications because of the trust they have in the team. So, it’s a very interesting journey, and we believe we are building on an existing legacy and expanding on it. From H+K to Skot Communications, what measures are you putting in place to integrate the new brand into the market? We want to be positioned as the voice, the reason being that voice is that one thing that every human being has. It is such a powerful thing for any individual or group. If there is no voice, everywhere will be silent. But with a voice, we believe anything is possible. So what we are here to do is to define your voice and define your messages. It is about connecting you with your audience, using your voice, and in that voice, your strategy, your messaging, and your connection with those people will come out. It’s a new start for us, but the good thing is that we have the experience. We know the landscape, even globally, because we have never operated as a local company. Though we are in Nigeria, we do West Africa as well, and we have a lot of clients there. The story continues online on www.thisdaylive.com

T H I S D AY ˾ THURSDAY, FEBRUARY 1, 2004

HEALTH & LIFESTYLE

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

Illegal Importation of Sultan of Sokoto, Gov Lawal of NAFDAC: Pharmaceuticals Poses BigThreat to Local Pharmaceutical Industries Survival in Nigeria ZamfaraStateVow toEnd PolioVirus Ayodeji Ake

Gov Dauda Lawal of Zamfara State inaugurating the newly constructed Polio Emergency Operations Centre in Gusau and supported by Executive Director of National Primary Healthcare Development Agency ( NPHCDA), Dr Muyi Aina; State Commissioner for Health, Dr Aisha Anka; and Executive Secretary of State Primary Healthcare, Dr Hussain Yakub Anka in Gusau....recently Stories by Precious Ugwuzor The Governor of Zamfara State, Alhaji Dauda Lawal and Sultan of Sokoto, Alhaji Muhammad Saad Abubakar have vowed to rally round traditional rulers, religious leaders and other stakeholders behind the National Primary Healthcare Development Agency( NPHCDA) to end Polio variant this year. The duo were reacting to the worrisome rise in the new cases of circulating Variant Polio Virus in Zamfara, Sokoto and Kebbi States. Governor Lawal and Sultan Abubakar made the vow during the Renewed Advocacy Campaigns against Polio Virus led by the Executive Director of the NPHCDA, Dr Muyi Aina.

The governor said his administration has embarked on vigorous strengthening of the State Primary Healthcare system, blocking financial leakages and capacity building of Health Care Personnel to ensure total eradication of Polio Virus in the three states. Governor Lawal also stated that he was spearheading a Strategic Security Meeting of the three states governors and promised to use the platform to engineer a collective action against the rising cases of Polio Virus in the states. He commended the concerted efforts of NPHCDA and the Development Partners while also commissioning the Newly Constructed Polio Emergency Operations Centre ( EOC) in Gusau which was dedicated to the war against Polio Virus. On the other hand, Sultan Abubakar emphasised the

strategic role of Traditional Rulers and Religious leaders and described them as the Best Institutions well positioned to help win the war against Polio Virus because they are closer and more trusted by the people. He said: “We strongly commend your efforts NPHCDA Executive Director, Dr Muyi Aina and the Development Partners. We assure you of our 100 per cent support. “We just need a push and we will win the war against Polio Virus by the grace of God with your total support and support by the state governments. We are saying Polio pack your bags and go”. Earlier, the Executive Director of NPHCDA, Dr. Muyi Aina said his agency and Development Partners have put in place strategic plans such as enumeration

of unvaccinated children, strengthening PHC System, supporting state governments to provide some basic amenities in Vaccine hesitant communities and vigorous sensitisation campaigns to ensure polio virus was completely eradicated this year. Dr Aina thanked Governor Lawal and Sultan Abubakar for their strong leadership roles and commitment towards total eradication of the Circulating Variant Polio Virus. According to Dr. Abubakar Jimoh, Strategic Communications Adviser, NPHCDA, the four- day Advocacy Campaigns against Polio Virus embarked upon by NPHCDA , WHO, UNICEF, Bill &; Melinda Foundation, Sultan Foundation, Dangote Foundation, Solino and other Development Partners criss crossed Zamfara, Sokoto and Kebbi States.

Esan Re-emphasises Need for Urgent Attention to Nigerian Abattoirs Motunrayo Esan, Nigeria’s leading expert in animal law, recently reiterated the fundamental importance of attending to the poor state of animals in abattoirs and zoos across the country. With her extensive expertise and commitment to animal protection nationally and internationally, Ms. Esan sheds light on the shady practices and unimaginable state of some Nigerian animals. According to Ms. Esan, “although many people might not know this, Nigeria has relatively fair animal welfare laws. In fact, we exceed the standards of some other countries. “However, this is only

on paper. In reality, Nigeria has one of the most unsafe conditions for animals raised for food in Nigeria. I think the success of the poor status thrives on the misinformation of many Nigerians. “ I think that if the processes were more transparent, our people would begin to ask questions. Everyone cares about the quality of the food that they eat.” “In December 2023, a special report of some investigations in Oko-Oba Abattoir in Lagos revealed where sick and dead animals were being slaughtered for sale in markets. “The sight was scary. Many Nigerians are not aware of this

because there is such a gap between the point of slaughter and when it ends up on our plate. It is scary. “ The results of the report show that there is indeed a deep gap between the provisions of Animals and Diseases (Control) Act. “The government needs to pay more attention to enforcing these laws seeing as there are health issues at stake. Some of those animals died of illnesses that humans can contact.” Motunrayo Esan is an animal lawyer licensed in Nigeria and the United States. She hails from Ekiti state and has three law

degrees. After an extensive research project in her undergraduate years where she drafted a law to regulate the use of dogs as security in Nigeria, she immersed herself in the field of animal law and has since risen to an influential position where she serves on boards of major animal advocacy NGOs. She lectures students on world animal protection and has pioneered the development of the field of animal law in Nigeria. Her vision is for improved animal welfare conditions and extensive education on animal law issues that have for long been lightly esteemed.

Bridge Clinic Gets ISO 9001 Recertification Sunday Ehigiator A world-class fertility clinic in Nigeria, Bridge Clinic, has been recertified with the International Standard Operations (ISO) 9001 Quality Management Certification for its commitment to standard international practices In a statement signed by the Managing Director of Bridge Clinic, Sunny Ekhalume, he revealed that the certification was issued following a meticulous assessment exercise by the Lead Auditor for Quality Austria, Dr. Peter Sögner, on

January 22, 2024. According to him, “The outcome of this meticulous exercise was the recertification of the clinic’s quality management system. “In 2004, Bridge Clinic achieved a historic feat by becoming the first clinic in Africa to be awarded the prestigious ISO 9001 quality management certification. Fast forward to 2024, and the clinic has upheld this esteemed accreditation which demonstrates its unwavering dedication to excellence. “The ISO 9001:2015 certification is a globally recognized standard that

emphasizes the importance of an effective quality management system (QMS). The recent audit has confirmed that Bridge Clinic continues to meet and exceed the rigorous requirements set by this standard, further solidifying its position as a leader in providing top-notch fertility services. “The benefits are profound and far-reaching, impacting not only the quality of care but also the overall patient experience. “At the core of the ISO 9001 certification is a commitment to customer satisfaction. By adhering to stringent quality

management practices, Bridge Clinic ensures that the needs and expectations of patients are not only met but exceeded. From the moment a patient walks through the doors to the completion of their treatment, the focus remains on delivering care that is compassionate, effective, and patient-centric. “Quality management is not just about meeting standards; it’s about optimising processes to enhance efficiency. By maintaining ISO 9001 certification, Bridge Clinic demonstrates a commitment to operational excellence.

The Director General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye has warned that the illegal importation of pharmaceutical consumables into the country poses a big threat to the survival of local pharmaceutical companies in Nigeria She made this statement during a familiarisation visit by the newly inaugurated executives of the Association of Nigerian Licensed Customs Agents (ANLCA), led by its National President, Mr. Emenike Nwokochi, to the NAFDAC Lagos corporate office. Prof Adeyeye narrated how she marvelled at the stupendous investments committed to the local production of Syringes in Nigeria by a local pharmaceutical company during a recent facility tour. She said that the standard of the facilities she met on the ground was comparable to whatever facility that could be found in the US or any country in Europe, adding that after the facility tour and being led into the warehouse, she was highly disturbed at the sight of huge unsold products. She noted that “over 1.5 billion units of the product were lying untouched in the warehouse due to low sales, exacerbated by the influx of imported syringes into the country, despite the high

import duty slammed on the product to protect the local market.” She revealed that a publication by USFDA stated that some syringes that come from Southeast Asia are of bad quality, adding that “those products didn’t fly by night and land in different warehouses in Nigeria; rather, they entered the country through individuals. “I understand the challenges of not making sales, especially after investing a significant amount of money. That’s why I am particularly meticulous when it comes to overseeing our export processes. “Nigeria has lost billions of naira in trade that could have benefitted our people. About 70 per cent of our exports are rejected, food products especially. All these rejected products did not go through NAFDAC regulatory assessment. It disgraces us as a country. “It has also become a great issue of concern the number of substandard products coming into the country. That’s why I attach significant importance to this association because the goods that are either imported or exported often play a crucial role in determining the strength of our economy.” She therefore admonished them to think more of the interest of the country over and above personal gains in their activities as clearing agents at the nation’s ports.

Patrick Ofuonyeadi Needs N20m to Beat Cancer Ayodeji Ake 48-year-old Patrick Ofuonyeadi is lying on a hospital bed battling cancer and needs a sum of N20 million to defeat the deadly illness. The family of the ailing Nigerian said they have exhausted their financial strength to keep their brother alive but all financial efforts proved abortive as more money for Bone Marrow Transplant and Spine Surgery. Addressing journalist, Cousin to Ofuonyeadi, Ikechukwu Nwaolisa said, “We call on our beloved country Nigeria to come together to support Patrick Somayina Ofuonyeadi, a brave individual who is facing the challenges of cancer with unwavering strength and determination. “Patrick Somayina Ofuonyeadi, 48 years old, took ill and was diagnosed with multiple myeloma (Cancer Of The white blood cells and bone marrow). “Ever since then, he has been battling with it. He has done numerous x-rays, three MRIs, one biopsy, and many other medical tests and examinations at Synlab limited, Nigerian Army Reference Hospital 44

Kaduna, and at the Barau Dikko Teaching Hospital Kaduna State respectively, where he has been receiving treatment since January 2020. “Between 2020 and now, Patrick has had 13 chemotherapy cycles. The cost of medical treatments, medications, and other related expenses has put a strain on both Patrick’s and his family’s finances as they have been drained financially in the pursuit of this fight. “However, the financial burden of medical expenses has added an extra layer of stress to this already difficult journey. We are pleading to well-meaning Nigerians to kindly extend a helping hand and make a meaningful impact on the life of Patrick. “We plead to Nigerians to join in this fight to help save Patrick Somayina Ofuonyeadi. Your support in prayers and contributions during this challenging time no matter how big or small will go a long way in alleviating their financial burden and saving Patrick. “Patrick’s phone number is 08135884247. His account details are; Acct Name: Patrick Somayina Ofuonyeadi. Bank: Zenith Bank Plc. Account Number: 2081487527,” said Ikechukwu.

T H I S D AY ˾ DAY ͯ˜ 2024

IMAGES

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

L-R: Category Manager, Reckitt Sub-Saharan Africa, Zara Adoki; General Manager, Reckitt Sub-Saharan Africa, Akbar Ali Shah; Brand Ambassador, Dettol Skincare, Ini Dima-Okojie; and Marketing Director, Reckitt Sub-Saharan Africa, Tanzim Rezwan, at the unveiling of Ini Dima-Okojie as the new brand ambassador for the newly relaunched Dettol Skincare, held in Lagos…recently

L-R: Corps Deputy Commander, Soga Oseni; Managing Director, Guardian Newspaper, Martins Oloja; and former Director-General, NIMASA, Dakuku Peterside (standing), during the Realnews 11th anniversary lecture held in Lagos…recently

L-R: Zonal Chairman, NUPENG Southwest, Alhaji Gbolahan Adigun Saheed (left), and Lagos State Commissioner of Police, Fayoade Adegoke, during the former visit to the commissioner in Lagos…recently

Rivers State Commissioner of Police, Olatunji Disu(left), and state Chief Judge, Justice Simeon Chibuzor Amadi (right), during Disu’s courtesy visit to the judiciary in Port Harcourt...recently

L-R: West Africa and the Netherlands Ambassador to Nigeria, Wouter Plomp; the Netherlands’ Special Envoy for the Sahel/Head of Great Lakes region, Tijmen Rooseboom; and Minister of Foreign Aﬀairs, Yusuf Maitama Tuggar, during the Special Envoy’s visit to Tuggar in Abuja…recently

L-R: Senior Advocate of Nigeria (SAN), Chief Richard Ahuonarugho; past President of the Nigerian Bar Association (NBA), Augustine Alegeh (SAN); and Chairman, NBA, Benin-city branch, Mr. Nosa Francis EdoOsagie, at the valedictory court session held in honour of late Dr. Kolawole Shola Okeaya-Inneh (SAN) at the High Court complex in Benin-city, Edo State…recently

L-R: Secretary to Osun State Government (SSG), Hon. Teslim Igbalaye; state Deputy Governor, Prince Kola Adewusi; state Governor, Senator Ademola Adeleke; and a guest, Chief Dupe Adeleke Sanni, at the ﬁrst Osun State Cooperative Summit and Awards held at the Staﬀ Development Centre in Abere, Osogbo…recently

FEBRUARY 1, ͰͮͰͲ ˾ T H I S D AY T H I S D AY

BUSINESS/MONEYGUIDE

Expert: How FG Can MakeYouths Compete Globally in Digital Market Oluchi Chibuzor An expert in technology and digital skills and Founder/CEO of McAnderson Institute of Technology, Akindayo Akindolani, has outlined ways the federal government can make youths in the country a force in the digital market. In a chat with newsmen, Akindolani, lamented that young people don’t have access to affordable infrastructures like computers that can help them sail in the digital market. He called on the federal government and other stakeholders to collaborate in ensuring that youths have easy access to quality Internet as well as affordable computers to enable them compete globally in the digital space. He said, “Most Ed-tech organizations focus more on digital skills in Nigeria and by extension in Africa but we have failed to address the Basic infrastructures that could help the young people in Africa to scale faster. One of the things the government should help

young people with is acquiring the right digital tool kits like affordable laptop/computers to work with and Internet penetration. “How can we make computers accessible to young people especially recent graduates. Most International Organizations focus more on digital skills also, example is Google, Microsoft and CISCO. I remember reading a news in 2017 that Google invested 3 million dollars in Nigeria when the CEO visited the country sighting that one million people have been trained in Africa in Digital skills while they pushed to train 10 million Africans over five years on digital skills and yet there is a report which says that over 85% recent graduates lack digital skills.” He added, “When you look at it critically you realise that some of our young people still do not have the required knowledge and skills to compete with in the labour market. One of the challenges we realised over the years of our work, is that we need

government to make necessary investment into infrastructure. “When you do a quick look into the NYSC camp for instance, some of them do not have good computers to work with because, the exchange rate is killing and some of them even managed to finish university with the hope of getting good Jobs. It will be difficult for them to acquire a laptop of 250,000. The government and other agencies need to look at how can they empower these young people with the infrastructure and tools needed to work with in the industry.” He lauded the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, for getting young people skilled in these aspects. Akindolani said, “thanks to the Minister of Communication who is doing a great work in terms of getting people skilled but we need not forget that we need to put more effort in acquiring tool kits; Computers, access to quality Internet is still a problem for us.”

L-R: Commercial Director, Promasidor Nigeria Limited, Mario Russo; Winner, Students’ Senior Category, Cowbellpedia 2023 Competition, Okechukwu Joseph; Marketing Director, Promasidor Nigeria Limited, Adebola Williams; Winner, Students’ Junior Category, Cowbellpedia 2023 Competition, Adoga Daniel; Corporate Aﬀairs and IDF Director, Promasidor Nigeria Limited, Andrew Enahoro at the Cowbellpedia Prizegiving Award Ceremony in Lagos …..recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) NOVEMBER, 24

Dun & Bradstreet Unveils ESG Solutions to Empower Businesses Dun & Bradstreet, a global provider of business data and analytics, has added ESG RegisteredTM to its product catalog in Nigeria to help companies project their Environmental, Social and Governance (ESG) credentials on a global level. The state-of-the-art solution will facilitate firms in gaining an edge over the competition through an industry-trusted seal, according to a statement. “Through the release of this cutting-edge product, Dun & Bradstreet will recognise companies committed to sustainable business practices

and award them a certificate with ESG ratings, ”it said in a statement. It said small, medium, and large businesses can utilise the product to showcase their commitment to sustainability and enter the company’s Data Cloud- a service used by over 92 per cent of Fortune 500 companies to vet customers, suppliers, and other business partners. Country Head at Dun & Bradstreet Nigeria, Womo Diriyai, highlighted that by combining technology with ESG data, the company recognises sustainable organisa-

tions by awarding them with a badge of recognition that widens their projection at a global scale. “With the rapid growth in digitalisation in Nigeria, it is essential to implement technology to assure a green future. ESG RegisteredTM is an allin-one solution for responsible companies looking to showcase their ESG performance and fill gaps in adherence to the ESG guidelines,” he said. He added that companies get a unique opportunity to turn their sustainable business practices into an advantage through the product.

Lekki Gardens Maintains BBB+ Rating The Global Credit Rating (GCR) has affirmed Lekki Gardens national scale long-term and short-term issuer ratings of BBB+ and A2, respectively, with a Stable Outlook. According to GCR, “the rating affirmation reflects Lekki Gardens’ modest leverage metrics and well-managed liquidity, which have supported the ongoing operations and sustained its competitive position within the Nigerian

property development sector.” Managing Director and Chief Executive Officer, Dr. Richard Nyong said, “Our capacity to generate very robust internal cashflows remains very strong and sustained” He further stated that the company’s efforts to keep her leverage at a minimum combined with very solid and sustained operational performance despite the severe economic headwinds have ensured they are in a good

position to meet all obligations as and when due. “This fact was demonstrated in the recent successful repayment of her N3.50 billion 3-year debt instrument that matured in January 2024. The company in 2022 issued N4.18 billion in Series 1 (Tranches A & B) Commercial Papers under her =N=25,000,000,000.00 Commercial Paper programme which were successfully redeemed and repaid in 2023. “

‘Lack of Accountability Responsible for Nigeria’s Petroleum Industry Woes’ Sunday Ehigiator A RETIRED Director of the Nigerian Upstream Department of Petroleum Resources (DPR), now Petroleum Regulatory Commission (PRC), Ben Anene Osuno, has said that lack of accountability is one of the reasons the petroleum industry is in shambles. He stated this at a colloquium organised in his honour to mark his 88th birthday scheduled to take place in February. According to him, “In those days, there were daily, weekly, monthly and yearly reports. I don’t know how people say they don’t know what is being

produced,” he said. Osuno, who was also Nigeria’s Governor to the Organisation of the Petroleum Exporting Countries (OPEC) from 19791990, said the country’s crude oil had reduced from 2.4 million barrels per day in the 90s to less than 1.7 million currently, despite the country having more people and more funds to do the job. He said, “The current delay caused by the number of regulators in both the downstream and upstream sectors has made granting approvals more cumbersome and expensive. Some years ago when the country was producing 2.4mbpd and very

few companies were working with no problems, but today, there are many more firms and much more money. The control of the industry is too heavy, yet, we cannot produce one million barrels per day. If you do 1.7mbpd, you are happy. And you spend so much money to control that 1.7mbpd. When it was 2.4mbpd, how much was being spent to supervise?” Speaking about the celebrant, families, friends and colleagues, all gave positive testimonies about Osuno, describing him as an embodiment of professionalism, humility, integrity, modesty, selflessness, a contented person and a gentleman to the core.

Money Supply (M3)

72,014,274.74

-- CBN Bills Held by Money Holding Sectors

1,245,804.25

Money Supply (M2)

71,331,641.40

-- Quasi Money

45,146,611.59

-- Narrow Money (M1)

26,185,029.81

---- Currency Outside Banks

3,081,255.46

---- Demand Deposits

23,103,774.40

Net Foreign Assets (NFA)

32,212,549.50

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

39,801,725.20

---- 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)

59,737,156.08

--Other Assets Net

4,720,308.20

Reserve Money (Base Money

22,908,392.34

--Currency in Circulation --Banks Reserves --Special Intervention Reserves

3,347,716.33 19,560,676.02 0.00

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

December 2024

Inter-Bank Call Rate

16.99

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

18.75

Treasury Bill Rate

8.93

Savings Deposit Rate

5.28

1 Month Deposit Rate

7.24

3 Months Deposit Rate

7.56

6 Months Deposit Rate

8.42

12 Months Deposit Rate

9.75

Prime Lending rate

14.17

Maximum Lending Rate

26.62

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24TH JANUARY , 2024

The price of OPEC basket of twelve crudes stood at $81.30 a barrel on Tuesday, compared with $79.70 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), 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 ˾FEBRUARY 1, ͰͮͰͲ ˾ T H I S D AY

MARKET NEWS

Gombe State Mulls Raising N30bn Green Bond from Capital Market Kayode Tokede The Governor of Gombe State, Alhaji Muhammad Yahaya, yesterday revealed that the state government is planning to raise N30 billion green bond from the capital market to advance its economy, calling on investors to invest in the State’s agriculture and infrastructure development. The Governor speaking to journalists at the “closing gang

ceremony” on the Exchange stated that “the State intends to raise N30 billion for the start and we may break it into tranches.” Yahaya noted that the green bond is an initiative aimed at raising funds to finance ecofriendly and environmentally friendly investments, especially in assets that will contribute to the restoration and upliftment of human life so that we can reduce the impact of climate

P R I C E S MAIN BOARD

F O R DEALS

change and global warming. He said, “with the support we saw and the acceptance of the Nigerian capital market stakeholders, we are going to hit our target.” He added that the capital market is the ideal place for any investor, either government, public or private sector to pull funds for development. On reason to invest in Gombe, Yahaya who was speaking at

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

the State’s GoInvest 2.0 with the theme, ‘Unlocking Potential, Advancing Together: Invest in Gombe State’, said the State was ranked fifth out of 36 States on the following index assessed: accessibility, open budget, public procurement, human resources, anti-corruption and citizens engagement, expressing that Gombe still maintains it’s position as number one in ease of doing business in

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S O F

Nigeria. The Governor said the State has been ranked number one (two years in a row) by the survey of the Ease of Doing Business (EoDB) in Nigeria. He also added that Gombe presents investment opportunities across the tomatoes value chain, stating that the livestock sector in Gombe State remains a hidden opportunity waiting to be harnessed and the

J A N UA RY DEALS

State has the Largest Grazing Reserve in Nigeria with 146,000 Ha of Land, comprising of six Veterinary Clinics, Milk Collection Centre and Modern Abattoir and 16 Boreholes. He said the government’s commitment to maintaining peace and fostering a businessfriendly environment has been a key factor in ensuring the State’s security and attractiveness to investors.

/ 3 1 / 2 4 MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

FEBRUARY 1, ͰͮͰͲ ˾ T H I S D AY T H I S D AY

BUSINESS/MONEYGUIDE

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) NOVEMBER, 24

Money Supply (M3)

72,014,274.74

-- CBN Bills Held by Money Holding Sectors

1,245,804.25

Money Supply (M2)

71,331,641.40

-- Quasi Money

45,146,611.59

-- Narrow Money (M1)

26,185,029.81

---- Currency Outside Banks

3,081,255.46

---- Demand Deposits

23,103,774.40

Net Foreign Assets (NFA)

32,212,549.50

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

39,801,725.20

---- 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)

59,737,156.08

--Other Assets Net

4,720,308.20

Reserve Money (Base Money

22,908,392.34

--Currency in Circulation --Banks Reserves --Special Intervention Reserves

3,347,716.33 19,560,676.02 0.00

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

December 2024

Inter-Bank Call Rate

16.99

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

18.75

Treasury Bill Rate

8.93

Savings Deposit Rate

5.28

1 Month Deposit Rate

7.24

3 Months Deposit Rate

7.56

6 Months Deposit Rate

8.42

12 Months Deposit Rate

9.75

Prime Lending rate

14.17

Maximum Lending Rate

26.62

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24TH JANUARY , 2024

T H I S D AY • THURSDAY, FEBRUARY 01, 2024

NEWS

Women In Healthcare Network Launch Event...

L-R: CEO, ABC Health, Dr. Mories Atoki; Minister of Health and Social Welfare, Prof. Ali Pate and MD/CEO, Private Sector Health Alliance of Nigeria (PSHAN), Dr. Tinuola Akinbolagbe, during the Women In Healthcare Network (WICHN) Launch Event at Harbour Point, Lagos....yesterday

Rivers High Court Restrains Police from Arresting Fubara’s Chief of Staff, Ehie Another court orders his arrest, five others for alleged complicity in DPO’s murder

Alex Enumah in Abuja and Blessing Ibunge in Port Harcourt A Rivers State High Court sitting in Port Harcourt, has granted an exparte motion filed by the Chief of Staff to Governor Siminalayi Fubara, Hon. Edison Ehie, restricting the Nigerian Police Force from arresting him.

But Justice Emeka Nwite of a Federal High Court, Abuja, had also ordered the arrest of Ehie and five others. Nwite issued a warrant of arrest for the defendants over their alleged complicity in acts of arson, terrorism, and murder amongst others. Ehie, filed an exparte motion

restraining the police or other security agencies from arresting, detaining or harassing him over alleged invasion and burning down of the Hallowed Chambers of the State House of Assembly. The Chief of Staff was a factional Speaker of the State House of Assembly, before he recently signed

for a higher responsibility. Presiding judge, Justice Sika Aprioku, gave the order yesterday, following the motion adjourned till the February 6, for hearing of the substantive application. The Martin Amaewhule-led legislative arm of the state had filed a criminal petition against

Oyebanji to Ekiti Obas: Don’t Come Beg for Anyone When Investigation Starts Traditional rulers want FG to increase security in state

Gbenga Sodeinde in Ado Ekiti

Ekiti State Governor, Biodun Oyebanji, yesterday, pleaded with traditional rulers in the state to avoid begging for whoever is picked up for profiling by security agents the moment investigation commences into the recent killings of two obas in the state. But the Ekiti State Council of Traditional Rulers, has called on the federal government to deploy more security personnel to Ekiti in order to beef up security in the state. Oyebanji in his remarks at the opening session of the meeting with traditional rulers at the State Traditional Council Chamber, AdoEkiti, held behind closed doors, also conveyed the condolence message of President Bola Ahmed Tinubu. He said the president sympathised with the traditional rulers on the loss of two of their colleagues – the Onimojo of Imojo Ekiti, Oba Olatunde Samuel Olusola and the Elesun of Esun Ekiti, Oba David Babatunde Ogunsakin in Monday attack by some gunmen. The governor told the monarchs that investigations into the killings of their colleagues had begun, and urged them to cooperate with the security agencies in the course of the investigations. “I covet your support and advice that will help security agencies. Another thing I want to tell our royal fathers is that in an attempt to fish out perpetrators of this sacrilege in this state, a lot of arrests will be made. “I will not want our royal fathers to get involved in begging, because, most of the time, when you pick people up, and you want to profile them, they will run to Kabiyesis and they will be pleading on their behalf

that he knows nothing about it. “I can assure you that if anybody is picked up, he will be profiled, if vindicated, he will be released after investigation,” he said. He stated that the meeting with the traditional rulers was a way out of the present web of insecurity in the state as he believed the deployment of both formal and native security apparatus would bring out the desired result. “We have our own structures too, we should be in collaboration with our hunters, vigilante groups, with the local government. Once I have those resolution and roadmap from our royal fathers, we will then agree with the local government chairmen on how to go about it,” he said. Oyebanji also told them to come up with an implementable roadmap for securing their localities, in line with government’s plan to get the local institution play some roles in safety and security of the environment. “I know that this is a very sad moment for all of us, on behalf of the government of Ekiti state and the President of the Federation, I extend my condolences to all traditional rulers. “Mr President asked me to personally express his condolences to all of us and he has given me his message for our royal fathers. He said, I should tell you that we are in this together. “He said I should make a commitment that those behind this will be fished out as soon as possible. And he said I should also tell you that the children that were abducted, by the special grace of God will be back home unhurt.” The governor stressed the need for collaboration among members

of the various communities with the security agencies in the state to achieve the well-desired security of lives and properties in the state. He commended the unity among the royal fathers even before the creation of the state, which he said had helped in bringing peace to Ekiti. Also, addressing Ekiti people in a statewide broadcast aired Tuesday night, Oyebanji, expressed his readiness to rally all security apparatus available to fight and flush out criminal elements who might want to make Ekiti a killing field and a safe haven for bloodsucking criminals. According to Oyebanji, the state

would reinvigorate the local security outfits to work in synergy with conventional security networks to break the ranks of those perpetrating heinous crimes in the facets of kidnapping, banditry and killings in the state. Meanwhile, the traditional rulers, who said the state was underpoliced also demanded that the state government should empower them with adequate resources to police and secure their respective domains to complement efforts of the security agencies. They also called on all traditional rulers to take necessary measures to ensure all forests currently occupied by bandits and kidnappers were

Edison Ehie to the police in the state over the invasion and burning of the hallowed chambers of the Rivers State House of Assembly by unknown hoodlums. In the petition, the Amaewhule led House of Assembly had demanded the police to arrest, prosecute Ehie, who is now the Chief of Staff Rivers State Government House, accusing him of alleged involvement in the burning down of the House of Assembly chambers. But Justice Nwite has ordered the arrest of Ehie and five others: Jinjiri Bala, Happy Benedict, Progress Joseph, Adokiye Oyagiri and Chibuike Peter also known as Rambo. Nwite issued a warrant of arrest for the defendants over their alleged complicity in acts of arson, terrorism, and murder amongst others. The order was sequel to an exparte application brought before the court by the Inspector General (IG) of Police, dated and filed on January 29. The ex-parte application was predicated on Sections 37, 113, 114, 84 and 184 of the Administration of Criminal Justice Act (ACJA) 2015, and Section 35 of the 1999 Constitution as well as 32 of the Police Act, 2020. In the exparte application argued by a Senior Advocate of Nigeria SAN and Deputy Commissioner of Police (DCP), Simon Lough, the six defendants were said to be at large. The senior lawyer submitted that

the defendants were involved in conspiracy, arson, terrorism, attempted murder and murder of a Superintendent of Police (SP) Bako Agbashim and five other police informants. The five police informants were alleged to have killed Charles Osu, Ogbonna Eja, Idaowuka Felix, Paul Victor Chibuogu and Saturday Edi. Delivering ruling in the application, Nwite held that after reading the affidavit in support of the application and hearing the argument of the complainant/application, "the application dated and filed January 29, is granted as prayed." He subsequently made an order for the issuing of warrant of arrest for the six defendants and to also declare them wanted. A Certified True Copy (CTC) of the court's order, signed by a Registrar of the Court, Kasope Bola, showed that the exparte application was marked FHC/ABJ/ CS/12/2024. The IG had two weeks ago put five Port Harcourt-based persons on trial on charges bordering on terrorism, arson and the burning of the Rivers State House of Assembly. The defendants were, however, remanded at the Kuje Correctional Center, pending the hearing and determination of their bail. The five defendants are Chime Eguma Ezebalike, Prince Lukman Oladele, Kenneth Goodluck Kpasa, Osiga Donald and Ochueja Thankgod.

Ondo Amotekun Deploys 100 Personnel to Aid Release of Ekiti Pupils, Teachers Parades 31 for kidnapping, robbery Says state police is only panacea for nation’s security challenges

Fidelis David in Akure Following the kidnap of five pupils of Apostolic Faith Group of Schools, Emure Ekiti, and four staff members, the Ondo State Command of the Western Nigeria Security Network (WNSN), codenamed Amotekun, said it has deployed 100 personnel to the neighbouring state to aid the release of the victims. Gunmen had Monday killed two Ekiti monarchs – the Onimojo of Imojo, Oba Olatunde Olusola, and the Elesun of Esun Ekiti, Oba Babatunde Ogunsakin –while the Alara of Ara Ekiti, Oba Adebayo Fatoba, narrowly escaped. On the same day, six pupils, three

teachers and the driver of their bus were kidnapped on their way back from school along Eporo-Ekiti road. However, the Ondo State Commander of Amotekun, Adetunji Adeleye, while parading 31 suspects arrested across the 18 council areas of the state, yesterday, said, in the spirit of brotherliness, Governor Lucky Aiyedatiwa had directed the deployment of 100 Amotekun personnel to work with their counterparts in Ekiti to secure the release of the pupils and arrest the killers of the monarchs. His words: "A couple of hours ago, we had an unfortunate incident in Ekiti and the governor of Ondo State directed we moved in the

interest of brotherliness to assist in the security situation in Ekiti State. We deployed 100 personnel to assist Ekiti command. "We've been there in the last 48 hours. Some arrest have been made and we will continue until the perpetrators of such dastardly act are arrested." He assured residents of Ondo State that Amotekun would continue to do everything possible to ensure that lives and property are protected. "You will recall that in the last three months, we've been on this. We want to reassure the people of Ondo that the state, security-wise is intact. “We will continue with our 24

hours patrol, we will continue to track all criminals from the cities to the forestry reserves and ensure that travelers can move unmolested. "So, I want to assure the good people of Ondo State that there is no problem. The state is safe. But, they have a duty to report any suspicious movement in their environment to us on time, so that we could be proactive and ensure that before it gets out of hand, this is nipped in the bud. "We have a sudden upsurge of visitors coming in from different parts of the country, in the name of hunting. The state government had made it clear that anybody that will carry out any activity in the forestry reserves must take permission."

THURSDAY, ͸͹˜ ͺ͸ͺͼ ˾ T H I S D AY

NEWS

COURTESY VISIT TO MINISTER OF POWER... L-R: Managing Director Saf-Aga Renewable Energy, Mr. Godbless Safugha; Board Chair of Saf-Aga Renewable Energy, Ann Oghogho; Minister of Niger Delta Development, Mr Abubakah Momoh; Managing Director NDDC, Dr. Samuel Ogbuku; Technology partner to Saf-Aga, Fabio De Pascale; with Executive Director Saf-Aga, Mr. Chucks Agara, during the courtesy visit of Saf-Aga to the minister PHOTO: KINGSLEY ADEBOYE in Abuja... yesterday

Group Accuses Traditional Ruler of Illegal Dredging in Epe, Seeks Sanwo-Olu’s Intervention Wale Igbintade A group under the auspices of Concerned Elders of Epe has called on the Lagos State Governor, Babajide Sanwo-Olu to urgently curtail the indiscriminate dredging of the urban areas in Epe area of the state by the Oloja of Epe land, Oba Kamourudeen Animasuan. The group also urged state government to take over the illegal dredging site immediately for the purpose of using same for its original purpose of jetty as earlier planned. In a statement issued by Alabi Adebayo, the group stated that the illegal dredging of sand along Oluwo Fish Market, opposite the Jubilee Charlet in Epe, was “disheartening” to the residents of that vicinity. It added that residents are being threatened with everyday presence of heavy duty trucks plying the road to the illegal dredging site. The group stated that when confronted, the Oloja of Epe land, Oba Animasuan allegedly boasted that '’he is the owner of Epe” and that any road user who is not

pleased with the illegal dredging should leave his town”. The traditional ruler was also claimed to have said nobody, not even the governor can stop him from continuous dredging on that land. "When we had the privilege to have a one-on-one meeting with the Oloja of Epe, we informed him that the land belongs to the Lagos State Government and the dredging is already an endemic to the residents of that area. “He fumed and stated that nobody, not even the governor can stop him from continuous dredging on that land. He said further that he is the owner of Epe, any road user who is not pleased with the illegal dredging should leave his town. "Hence, we concluded that the Oba probably has some backing beyond the control of the governor, that has made him to be so confident, to the extent that, even the Governor cannot stop the illegal dredging activities on that said land. “We were even told that the Oba is always fond of making such statement, denigrating the person of our revered governor

in the public", the statement added. The group urged Sanwo-Olu to take decisive steps towards curbing the menace and illegal activities of the Epe paramount ruler so as to repose trust and confidence in the people that the governor was not in support of illegality. "This is also a clarion call on Your Excellency to dissociate yourself from this paramount ruler who usually casts aspersion on the personality of the governor at the slightest opportunity that he has the governor in his pocket. “You must take decisive steps towards curbing the menace and illegal activities of this Epe paramount ruler so as to repose trust and confidence in the people that you are not in support of illegality. For the umpteenth time, a stitch in time, saves nine,” the group warned. It noted that it was important to inform the governor for the purpose of record that, when the road infrastructure in that axis becomes dilapidated, the illegal revenue or proceeds currently allegedly being enjoyed on daily basis by Animashaun cannot be enough to ensure maintenance or

rehabilitation. "We therefore join all the residents and the people of Epe to call for the intervention of the Governor of Lagos State to stop the stray of Oba Animashaun from the continuous illegal dredging.

“The governor should ensure that the state government takes over the illegal dredging site immediately for the purpose of using same for its original purpose of jetty as projected by the previous administrators of the state.

“This is so that you can take and enjoy the credit of putting a jetty in that axis and putting a stop to the potential environmental threat the illegal dredging poses to the people of that axis and the community in general," the group said.

INEC Distributes Sensitive Materials Ahead of Saturday's By-election in Ondo Seriki Adinoyi in Jos and Fidelis David in Akure The Independent National Electoral Commission (INEC) in Ondo State, yesterday, distributed sensitive materials ahead of the Akoko North-East and Akoko North-West Federal constituency bye-election scheduled to hold on Saturday, February 3. This was as the Labour Party presidential candidate in the 2023 general election, Mr. Peter Obi and his party, have warned against votebuying in the pending bye-election. The seat of the federal constituency became vacant in the House

of Representatives following the resignation of Mr.Olubunmi TunjiOjo, who was appointed the Minister ofInterior by President Bola Tinubu. Prof. Kunle Ajayi, INEC National Commissioner, supervising Osun, Ogun and Ondo, who monitored the exercise, held at the headquarters of the commission in Akure, said the distribution of the ballot papers was to show that the commission was ready for the by-election, promising that INEC would be transparent in the conduct of the election. While appealing to the political parties to eschew violence on the election day, the commissioner said the sensitive materials were being

distributed to ensure that no ward or polling unit was omitted or did not get materials for the election. “So the sensitive materials will be moved to the two local governments councils tomorrow being Thursday with the help of security agencies. “And, we want people to have confidence in INEC’s conduct of a free and fair election because we don’t have any political party; we don’t have any candidate; we are neutral in everything that we are doing. And we are going to reflect that again in Saturday’s by-election,” he said. Continues online

CBN UNFOLDS MEASURES TO BOOSTS FX SUPPLY, MITIGATE FOREIGN CURRENCY SPECULATION Mr. Ugochukwu Obi-Chukwu, said CBN was mainly seeking to address demand and supply challenges, which had caused FX to weaken below the parallel market rate recently. Writing on his Instagram page, Obi-Chukwu likened the situation to that of an egg and chicken, adding that the central bank cannot address only the demand equation without the supply side. Obi-Chukwu explained that to improve supply, CBN sought

to retrieve FX being hoarded and which ought to come into the official market. According to him, banks appear to be profiting from FX devaluation, a situation that poses risks to the economy. He said bank were holding NOP longer than expected, as they exploited FX depreciation and profit with currency depreciation, further constituting downside risks to the banks as well. Obi-Chukwu said the apex bank

believed that a lot of banks were buying FX from probably the CBN or elsewhere, and holding the foreign currency longer than the central bank thought. They then probably waited till the exchange rate depreciated before they sold. The Nairametrics founder said, “So, imagine a bank just buys a $1 million at N1,000, knowing full well that it’s likely to depreciate to N1,100 – so, for every N1 depreciation, the bank is essentially making N1 million for N1 depreciation.

“The CBN thinks banks are doing this and, in their view, hurting supply in the economy by holding those long positions; and for the CBN it’s kind of speculative. “The circular addresses that and they are telling them they are not going to be allowed to hold those positions any longer.” Obi-Chukwu added, “Essentially, CBN seems to be reining in one area they feel it’s limiting supply in the market, which is that some banks may be hoarding FX.”

Navy Destroys Three Illegal Refining Sites in Bayelsa Julius Osahon in Yenagoa The Nigerian Navy Forward Operating Base (FOB) FORMOSO, in Brass Local Government Area of Bayelsa, have destroyed three illegal refineries sites laden with about 50,000 litres of products suspected to be stolen crude oil. The operation was conducted from Sunday 28 to 30 Tuesday January 2024 in Bayelsa. The operation which was in line with the recently launched Nigerian Navy Operation Delta Sanity, was to put an end to illegal oil theft and bunkering activities within the maritime domain. In a statement signed yesterday, by the Commanding Officer Forward Operating Base FORMOSO, Capt Murtala Rogo, the Navy said the outfit carried out the three

days patrol along Nigerian Agip Oil Company (NAOC) Tebidaba – Brass pipeline. It said: "On 29 January 2024 at about 0845, the Team located one illegal refinery site and a wooden boat laden with about 20,000 litres of product suspected to be crude oil at Latitude 04°30'38"N Longititude 006°14'51"E, Galubakiri Creek, Nembe Local Government Area of Bayelsa. "While in the heat of the patrol, on the same day at about 1130, another illegal refinery site was also located laden with about 17,000 litres of product suspected to be stolen crude oil at position Latitude 04°31'51"N Longitude 006°15'58"E around Mbiakpaba, Nembe Local Government Area of Bayelsa. "Accordingly, in line with the

extant Rules of Engagement, both illegal refinery sites and the boat were appropriately handled," the statement read. On January 30, 2024, the team said it conducted patrol around Obama, Igbikiba, Igbomotoru, and Tebidaba General Area. During the patrol, the team disclosed that it intercepted two wooden boats with remnant of product suspected to be stolen crude oil at position Latitude 04°28'30"N Longitude 006°5'49"E Diebu Creek, Southern Ijaw Local Government Area of Bayelsa. It added that while combing other creeks around the pipeline, the it discovered another illegal refinery site laden with about 15,000 litres of products suspected to be stolen crude oil and five locally made iron ovens at position

Latitude 04°32'4"N Longitude 005º56'38"E Biabagbene Southern Ijaw LGA. "Pertinently the illegal refinery site was handled appropriately while the ovens were dismantled accordingly,” it stated. The commanding officer affirmed that the the 'operation is geared towards combing and clearing creeks, and channels as well as other places within the base area of operations, while further investigations into the criminal networks associated with the illegal refinery’s sites are ongoing. The navy further asserted that the operation marks a significant step in actualising the objectives of Operation Delta Sanity which aims to combat crude oil theft and illegal oil bunkering.

On the likely effect of the policy, Obi-Chukwu said, “You might see temporary appreciation of the naira; because if NOP is significant, you might see a lot of banks wanting to sell so they can comply with CBN regulations. “The challenge I have, however, is that nobody knows how much it is and how much impact it would create. It’s not clear whether it is a significant amount to clear the demand that we are seeing. “But, of course, as you would always know, whenever exchange rate depreciates farther like this, there are somethings that come up and it appreciates again.” Analysts, who spoke with THISDAY, further pointed out that the CBN measures might prove positive for FX liquidity in the market, as banks would have to sell the excess on the margins on foreign currency balance sheet to the market going forward. “Hence, banks will start selling internally and for internal transactions, such as converting FCY loans to NGN,” a source told THISDAY. It added, “However, some banks might have the position on their balance sheet but it is unlikely that they have the liquidity. We, however, estimate that $4 billion to $6 billion could flow to the market as banks reduce their NOP to zero per cent.”

Senate Summons CBN Governor on State of Economy, Naira Free Fall

The Senate Committee on Banking, Insurance and other Financial Institutions summoned Cardoso to address it on the state of the economy and the national currency. The panel said Cardoso must appear before it next Tuesday. Chairman of the committee, Senator Adetokunbo Abiru (APC Lagos East), announced the summons yesterday, when his panel held an emergency meeting to address the situation of the nation's currency, which had fallen to N1, 530 to a US dollar on the parallel market. Speaking with journalists after the meeting held behind closed doors, Abiru said the state of the economy, especially the inflation index, was of great concern to the lawmakers. He said, “We have held a meeting this afternoon essentially to focus on the direction of the Nigerian economy. "We are all living witnesses to what is going on. Underlining the major issue of the economy is the way the inflation index has been and, of course, it is a major concern to us. “We have deliberated among ourselves. Critical issues were addressed and we believe that the next line of action is to summon the CBN governor. "He is expected to appear on Tuesday at 3pm to brief us properly on the state of the economy and the way forward. “That we have resolved and will communicate to the governor of the central bank after which we will have further communication with members of the press."

T H I S D AY ˾ ˜ ͸͹˜ ͺ͸ͺͼ

NEWS

SIGNING THE EXECUTIVE ORDER ON SAFE HANDLING AND STORAGE OF HARMFUL SUBSTANCES... Oyo State Governor, Seyi Makinde (middle), signing the Executive Order on Safe Handling and Storage of Harmful Substances within Oyo State, with him from left are, Chief of Staﬀ, Hon Segun Ogunwuyi; Deputy Governor, Barr Bayo Lawal; Secretary to the State Government, Prof Olanike Adeyemo and Attorney General and Commissioner for Justice, Barr Biodun Aikomo, held at Governor's Oﬃce, Secretariat, Ibadan.

Nigerian Army: We’ll Keep Exterminating Those Posing Threat to National Security Security situation horrendous, unacceptable, says George Segun James ÓØ ËÑÙÝ ËØÎ Hammed Shittu ÓØ ÖÙÜÓØ The Nigerian Army, yesterday, vowed to continue to exterminate any individual or group of individuals who pose threat to the national security of the country. Also, former National Deputy Chairman of the Peoples Democratic Party (PDP), Chief Olabode George, has said the security situation in the

country was horrendous and horrible, urging President Bola Tinubu to a meeting of Nigerian elders, especially past military leaders to save the country from total collapse. General Officer Commanding 2nd Mechanised Division, Nigerian Army with headquarters in Ibadan, Oyo State, Major General Bamidele Alabi, spoke in Ilorin, Kwara State while declaring open the 31st Social Media Influencers seminar with

Wike, Obaseki, Fintiri Meet over Edo Guber Plots soft landing for Ighodalo

Edo State Governor, Godwin Obaseki, yesterday, met with the Minister of the FCT, Nyesom Wike, in Abuja, Tuesday night, as part of the peace deal to secure his support for Asue Ighodalo’s governorship bid in the unfolding contest for the ticket of the Peoples Democratic Party (PDP) in Edo State. Before the meeting with the FCT minister, it was learnt that a governor from one of the southwest states and the vice national chairman of the party in the South South were the ones opposed to Igbodalo’s aspiration. Obaseki, however, brought with him, one of Wike's friends and Governor of Adamawa State, Ahmadu Fintiri, to help persuade the members of the G5, to support the aspiration of Igbodalo. The meeting, it was gathered was part of the measures to create a soft landing for Obaseki and his adopted aspirant, Igbodalo. The meeting took place at Wells Carlton Hotel, Abuja. THISDAY had Monday reported the petition against Igbodalo by some members of the party on the ground that he was not qualified to contest as his waiver was genuinely obtained. The screening committee, however, overlooked the objection contained in the petition and qualified Igbodalo to stand for the primary election slated for

February 22. Obaseki’s peace move was necessitated by the reality of a strong opposition from Omoregie Ogbeide-Ihama, a former member of the House of Representatives and the preferred candidate of Dan Orbih, Wike’s key ally in Edo State. Ighodalo is seeking the governorship ticket of the PDP in Edo State in the February 22, 2024 primary election. There is also the challenge from Philip Shaibu, the current deputy governor. Although Ighodalo has expressed confidence in winning the party’s ticket, going into the primary against Ogbeide-Ihama and Shaibu was viewed in Obaseki’s camp as a delicate game. At the meeting with Wike, Obaseki was said to have sought “reconciliation” and apologised for previous misunderstanding between them. Ighodalo would be willing to pick Ogbeide-Ihama as his running mate, according to the deal offered by Obaseki. Wike reportedly told him point-blank that he would not have any dealings with him as he was not known to have kept faith with anyone that assisted him in the past. Hence, Wike demanded a “level-playing field so that the most acceptable candidate can win,” it was learnt.

the theme, "Emerging Trends on Social Media: Impact on National Security." He said the development would go a long way to sustain the current efforts of the Nigerian armed forces to maintain peace and harmony for the nation's civil and territorial protection of the country. The seminar was organised by the Civil Military Affairs, Nigerian Army headquarters, Abuja. About 1000 social media Influencers, bloggers and media practitioners and youths attended the seminar. Alabi added that, "The Nigerian Army is presently operating in conjunction with other security agencies and stakeholders in 2nd Army division including Kwara State to ensure peace and security within a joint environment.

"This is in line with the Chief of Army Command Staff's philosophy ‘to transform the Nigerian Army into a well-trained, equipped and highly motivated force towards achieving our constitutional responsibilities within a joint environment." The GOC, however, said,"The NA recognises the importance of bloggers and influencers of the social media as credible partners in shaping narratives towards enhancing national security. This underlines the constant effort of the NA in organising programmes like this to interact with all stakeholders. "Therefore, this edition of the seminar with the theme: "Emerging Trends on Social Media: Impact on National Security" is indeed timely and apt in the face of a volatile, unpredictable, dynamic and fluid

security environment. Also speaking, the Chief of Civil Military Affairs (Army), Major NC Ugbo said, "security is a collective responsibility of all of us, therefore the Nigerian Army cannot do it alone. "We all have a very important role to play in the promotion of peace and security in our dear country." On his part, George who said he was not speaking as a member of the PDP but as a statesman, lamented that the country was on a precipice and that if nothing was done immediately, the nation might collapse irritably. Speaking at an interactive session with newsmen in his office at Ikoyi, Lagos, he said the establishment of state police has become urgent, saying the current system where command centre is located in Abuja could no

longer work. "Mr. Tinubu must not shy away from state police. He must go and get the report of the report of the constitutional conference (2014). The constitution is also part of the obstacle that is recklessly disturbing the growth of the country. "Right now we are on the precipice of total collapse. We are failing. The report of the constitutional conference was dropped to the archive. The effect of putting it in the archive is what we are experiencing now. "The President must invite all those elders in the military to come because security is now a national calamity. This invite is very, very urgent. It is the collectivity of all hands that can resolve the issue. You would now have all those elders to share their experiences."

Supreme Court Afﬁrms Fintiri’s Election Says Binani's appeal grossly lacks merit Chuks Okocha ËØÎ Alex Enumah ÓØ ÌßÔË A five-member panel of the apex court, yesterday, dismissed the appeal by Senator Aisha Dahiru Binani of the All Progressives Congress (APC) seeking to upturn the declaration of Ahmadu Fintiri as Governor of Adamawa. The five-member panel in a unanimous judgment delivered by Justice John Okoro, dismissed the appeal for being incompetent and lacking in merit, and upheld Fintiri’s election. The Independent National Electoral Commission (INEC) had declared PDP's Fintiri as governor, having won majority of votes cast at the March 18 and April 16 rerun governorship election in Adamawa. Not satisfied, APC and Binani approached the governorship tribunal to challenge the declaration on grounds that they won the majority votes as declared by the INEC Resident Electoral Commissioner (REC) in Adamawa State.

But in their separate judgments, both the tribunal and the Court of Appeal dismissed the case of the petitioners for lacking in merit. Not satisfied Binani and APC approached the apex court and sought to set aside the concurrent judgments of the two lower courts. At the hearing, the appellants' lawyers led by Chief Akin Olujinmi SAN, urged the apex court to invoke Section 152 of the Electoral Act, 2022 to declare Binani as the lawfully elected governor of Adamawa State. Olujimi submitted that the REC, who pronounced Binani as winner of the March 18, 2023, governorship election had powers under the Electoral Act to do so. It was his submission that as a Staff of the INEC, the REC could not be faulted for making declaration in the election he superintendent over. But the respondents all disagreed with him and urged the court to dismiss the appeal for lacking in merit. In their judgment yesterday, the apex court agreed with the

respondents that the appeal was unmeritorious and having dismissed it, the panel affirmed the concurrent judgments of the Court of Appeal and the tribunal, which affirmed the declaration of Fintiri as the winner of the March 18 governorship election and April 16 rerun election. The apex court pointed out that the appeal was grossly incompetent because the appellants/petitioners did not prove that Fintiri and his party, the PDP did not win the governorship election. Meanwhile, the former VicePresident, Atiku Abubukar and the Peoples Democratic Party (PDP) have congratulated Fintiri on the confirmation of his victory as governor by the Supreme Court. Atiku’s message read: "Congratulations to Governor Ahmadu Fintiri, whose victory in the March 2023 gubernatorial election, has been affirmed by the Supreme Court of Nigeria. This, again, is a victory for the PDP family and for democracy in our country." The PDP in its message to

Fintiri, said the judgement of the Supreme Court was a further affirmation of his victory at the March 18, 2023 governorship election in the State. In a statement by the National Publicity Secretary, Debo Ologunagba, the party said, "The judgement of the Supreme Court, the highest and final Court in the Country serves as an iron-cast stamp in validating the triumph of the expressed will of the people in resisting various attempts by undemocratic and anti-people forces to subvert the electoral process and illegally take over control of the State. "The spur-of-the-moment celebration across Adamawa State and other states of the federation at the news of the Supreme Court Judgment clearly shows that the verdict is in line with the expectation of Nigerians and particularly the people of Adamawa State in their quest to sustain transparent, development-driven and peopleoriented leadership as epitomised in Governor Fintiri and the PDP."

THURSDAY FEBRUARY 1, 2024 ˾ T H I S D AY

NEWS

UR³ RESILIENCE SUMMIT...

L-R: Managing Partner, GLG Communications and President, Life Coaches Association of Nigeria, Omawumi Ogbe; Managing Director/ Chief Executive Oﬃcer, Pan African Towers, Azeez Amida, and Executive Coach/ Convener, UR³ Resilience Summit, Stephanie Kadiri, at the 5th edition of the UR³ Summit in Lagos…recently

Ex-NSA, Gusau Seeks Rework of Nigeria’s Security Architecture Zamfara launches community protection guards

Emmanuel Addeh in Abuja

A former National Security Adviser (NSA), Lt.-Gen. Aliyu Gusau (rtd), yesterday called for an overhaul of Nigeria’s security architecture, maintaining that it would be difficult, for instance, for the current police force to patrol the entire nation

effectively. Speaking at the graduation ceremony of the Zamfara State Community Protection Guards, he explained that it was an opportunity to reflect on the security challenge in Zamfara that has sparked a massive humanitarian crisis for hundreds of thousands of people.

Cadbury Nigeria Grows Operating Profit by 4,228% to N8.4bn KayodeTokede

Cadbury Nigeria Plc has announced an operating profit of N8.4 billion for the full year ended December 31, 2023, representing an increase of 4,228 per cent over the N194million it recorded in the same period in 2022. The company’s gross profit also rose by 130 per cent from N7.7billion in 2022 to N17.79billion in 2023, while revenue increased by 46 per cent from N55.2billion to N80.38 billion within the period under review. The Managing Director, Cadbury Nigeria, Oyeyimika Adeboye, in a statement said the

company sustained its current growth trajectory, despite the difficult operating environment in the country, due to its resilience as well as focus on revenue and cost management. Noting that the massive devaluation of the Naira impacted negatively on businesses particularly operators in the fast-moving consumer goods (FMCGs) sector that rely on imported inputs, in the period under review, she said the increase in the company’s operating profit was an indication that the growth strategies that it has put in place are yielding fruits.

Man Sentenced to Death by Hanging FunkeOlaode

A Lagos Special Offences Court in Ikeja has convicted and sentenced Emmanuel Iwuno to death by hanging for armed robbery of Toyota Highlander, smartphone and money. Justice Olubunmi AbikeFadipe yesterday also sentenced the convict to 21 years imprisonment after finding him guilty of conspiracy to commit robbery. The Judge held that the prosecution proved beyond reasonable doubt the ingredients of the two-count charge of conspiracy to commit robbery and armed robbery against the convict. The state had charged Iwuno with

conspiracy to commit robbery and armed robbery contrary to Sections 299 and 297(2) (a) of the Criminal Laws of Lagos State 2015. The first prosecution witness and victim of the robbery, Obinna Mbah, had told the court that on March 8, 2020, he was approached by four men who robbed him of his car in Thomas Onyemachi Street, Afromedia Junction in Okokomaiko area of Lagos. Mbah told the court that one of the men, covering his face with a mask, had forced him to lay down on the ground, threatened him with a gun and took his Infinix phone and money while the other robbers drove away in his car.

Aside from those who have lost their lives in recent years, Gusau noted that numerous

others have been displaced and denied access to their settlements, farmlands, education

and healthcare facilities. “I stand here today not as a politician, but as a non-partisan

father figure who has the best interests of our community and our country at heart.”

Alleged Fraud: Delta Gov Suspends Agric Commissioner, Others Omon-Julius Onabu in Asaba Governor Sheriff Oborevwori of Delta State, has approved the suspension of the state Commissioner for Agriculture and Natural Resources, Mr. Omoun Perekebena Perez,

following alleged involvement in financial impropriety reported in his ministry. The decision to suspend the honourable commissioner, barely few months after inauguration for agriculture, was advised by the need to

have unhindered investigation into the matter, a statement by the Secretary to the State Government (SSG), Dr Kingsley Emu, said yesterday. Also affected by the directive to investigate the alleged fraud are Messrs Bennett Ezon-Abode

Agamah, who is the Permanent Secretary in the ministry; Mr Oki Preowei Yintareke, an engineer and Assistant Director, Agricultural Engineering; and, Mr. Gabriel Idiatacheko, who is Chief Accountant in the same ministry.

Divestment: Ijaw Women Demand Inclusion in Sale of Crude Oil Assets in N’Delta Blessing Ibunge in Port Harcourt

An indigenous group, Coalition of Ijaw Women Voices (CIWV), has called on the federal government, International Oil Companies (IOCs), and other concerned

groups to ensure the inclusion of women in the negotiations and decisions of the sale of oil and gas assets in the Niger Delta region. The call was made yesterday in a briefing organised by the group led by a famous female activist, Ann-Kio Briggs, in

Port Harcourt, Rivers State capital. The group also called on the federal government and IOCs to be transparent and accountable in their plans to sell off the assets in the region. Recalled that there is ongoing plan to sell Shell Petroleum Development

Company (SPDC) onshore assets in Niger Delta. Speaking on the development, Anne-Kio Briggs said the attempt to sell off the “vital assets domiciled in the Niger Delta and particularly in Ijaw territory is unacceptable and will be resisted.”

Re-run: Obi, LP Stalwarts in Jos, Warn against Vote Buying

SerikiAdinoyiinJos

The Labour Party (LP) presidential candidate in the 2023 general election, Mr. Peter Obi, has said the target of the party is to get Nigerians away from a country that only consumes to a country that produces, through which the youths will seriously get engaged with meaningful

jobs thereby drastically reducing criminality. Obi, who was in Jos, Plateau State, with other party stalwarts to show solidarity and campaign for the party’s senatorial and House of Representatives candidates, Gyang Zi and Daniel Asama respectively, warned against vote buying, saying: “They will come as usual to buy

your votes, I don’t mean you that are here. But you have to go and preach to people that are collecting money from politicians to vote for them. “They are voting for more killings and more hunger in the state. They are voting for more trouble; they are voting for their school children not to be in school. That’s what they are voting for when they collect their

money.” He lamented the deteriorating state of Plateau State, describing it as a shadow of itself. Obi said the state used to be farm produce hub of the country and a place always nominated for political, economic and other businesses’ meetings, but today these privileges have died out due to insecurity.

NAFDAC: Illegal Importation Threat to Local Pharmaceutical Industries Ayodeji Ake

The Director General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye, has warned that illegal importation of pharmaceutical consumables into the country hss posed a

big threat to the survival of local pharmaceutical companies in Nigeria. Adeyeye made this statement during a familiarisation visit by the newly inaugurated executives of the Association of Nigerian Licensed Customs Agents (ANLCA), led by its National President, Mr. Emenike

Nwokochi, to the NAFDAC’s Lagos corporate office. She narrated how she marveled at the stupendous investments committed to the local production of Syringes in Nigeria by a local pharmaceutical company during a recent facility tour. She said that the standard

of the facilities she met on the ground was comparable to whatever facility that could be found in the United States of America or any country in Europe, adding that after the facility tour and being led into the warehouse, she was highly disturbed at the sight of huge unsold products.

We Will Not Negotiate with Terrorists, Say North-west Governors Onuminya Innocent

Umar Dikko Radda, disclosed

terrorists.

Progressives Congress (APC),

are terrorising the region. The Chairman of the North West Governors Forum and Governor of Katsina State, Dr.

Radda stated that the governors in the region have resolved to work together as a force to clear the region of

of insecurity,” he added. According to him, “In the fight against banditry, there are no divisions such as All

He stressed that the wellbeing and progress of the region are the main concerns of the current leadership in the region.

at the graduation and official “We have resolved to work Peoples Democratic Party (PDP), ‘Kwara ‘ll Make more Commitment The state governors in the North- this launching of 2,600 of Zamfara State together as a team, despite and New Nigeria People’s Party region of Nigeria have vowed Community Protection Guards political differences, to save (NNPP), but only a unified to Education, Infrastructure this Year’ west not to negotiate with terrorists who (CPG) in Gusau, the state capital. our people from the menace Northwest.”

Hammed Shittu inIlorin

Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, has said the state government will commit billions of naira to improve educational curriculum, infrastructure and hygiene in all the schools in the state this year. AbdulRazaq said such would go a long way in aiding learning and improving the safety of pupils in schools in the state. He stated this in Ilorin yesterday during the presentation of N6million cheque to the six public

school students who recently won the presidential debate competition in Abuja. The six public school students are: Mashood Kamaldeen (Government Secondary School, Ilorin East LG); Jatto Ramatallahi (Offa Grammar School, Offa); Jimoh Abayomi Emmanuel (Tanke Community Junior Secondary School, Ilorin South); Emmanuel Chioma (St. Anthony Junior Secondary School, Ilorin East); Dolapo Mariam (Offa Grammar School, Offa); and AbdulKareem Uswat ( Okelele Junior Secondary School Ilorin East).

Court Orders Total Nigeria to Pay Ex-Employees N50m Damages

Wale Igbintade

Justice Elizabeth Oji of the Lagos Judicial Division of the National Industrial Court has ordered Total E & P Nigeria Limited (formerly Elf Petroleum Nigeria Limited) to pay disengaged security employees of the company the sum of N50

million as aggravated damage for inflicting psychological and mental torture on the claimants. Justice Orji in her judgment delivered yesterday described as callous and insensitive the refusal of first defendant (Total E & P Nig.) to issue the claimants employment letters for about 15

years they worked in the company in accordance with Labour Act. The court gave Total E & P Nigeria 30 days within which to comply with the order, failure which it will attract interest of 20 percent. The claimants, Odah Ezckiel Ogah, Adefemi Eyitayo Moses,

Ogwuche Abraham, Charles Okwori (for themselves and on behalf of the disengaged security employees of Total E & P Nigeria Limited) had in suit number NICN/ LA/663/2016 accused the oil company of unfair labour practice.

THURSDAY FEBRUARY 1, 2024 ˾ T H I S D AY

NEWSXTRA

LEADERSHIP AND MENTORING CONFERENCE…

L-R: Founder, Women in Successful Careers (WISCAR), Mrs. Amina Oyagbola; award-winning Media Entrepreneur, Mo Abudu; Chairperson,2023 ALMC Planning Committee, Mrs. Tokunboh George-Taylor, and Executive Secretary, WISCAR, Aﬁniki Mangzha, at the 2023 WISCAR leadership and mentoring conference in Lagos…recently ETOP UKUTT

Ekiti Killings: Create Armed Vigilance Group Now, Group Urges Yoruba Monarchs, Communities Lawmaker Links Renewed Insecurity to Improper Implementation Laws Segun James and Gbenga Sodeinde in Ado Ekiti Following the gruesome killings of traditional rulers in Ekiti State, a socio-political group, the Alliance of Yoruba Democratic Movements (AYDM), has called on traditional rulers and

communities across the Southwest to create local vigilante in their domain to ward off armed herdsmen. This just as a member of the House of Representatives, Hon Olusola Fatoba, has linked the renewed insecurity in the country to failure to implement

the criminal law and penal code to the letter. In the statement signed

The National Chairman of the Labour Party (LP), Julius Abure, has described the allegations of forgery against him and members of his executive in Ebonyi, Edo, and other states prior to the 2023 general election as unfounded. Addressing a press conference yesterday on the state of the party, he explained that the police investigated the allegations and discovered that they were meant to malign and distract the party during and after the general election. Abure, who said the allegations were the workings of desperate

Officials of the Anambra State Ministry of Women Affairs and Social Welfare have arrested a 38-year-old woman, Chinyere Chukwu, for attempting to sell politicians to weaken the resolve two of her sons. of the Nigerian people invested in the Labour Party, championed the narrative with the intent to Kemi Olaitan in Ibadan distract him and the executive from focusing on the elections. Governor Seyi Makinde of Oyo He stated that the attention State, yesterday, signed Executive required from his office to prosecute Order 001 of 2024 on the safe the 2023 elections was huge, and handling of harmful substances. he deferred the visit to the police Makinde, while signing the station on the unfounded allegation. order in in Ibadan, said: “We According to him, updates in are signing the Executive Order the police investigations over the various allegations have exposed the lies and empty orchestration against his person and the dream to Yinka Kolawole in Osogbo better Nigeria through the Labour Party. The Osun State chapter of the All Progressives Congress (APC) has accused the Peoples Democratic Party PDP-led administration of detecting cancer early in women Governor Ademola Adeleke of deliberately hoarding the with a great deal of accuracy. The data scientist added that recently pronounced six White early detection could lead to early treatment which would save a lot of lives, saying this would complement the efforts of the few The Commonwealth has available competent oncologists at appointed former Nigerian various cancer treatment centres President, Dr. Goodluck Ebele Jonathan, as the head of its across the country. Iheme noted that the high Election Observation Mission number of patients seeking to Pakistan’s general election cancer diagnosis puts pressure scheduled for February 8, 2024. Jonathan will be leading a group and stress on the doctors which causes minor errors in detecting of multidisciplinary experts from tumours in patients, saying this across the Commonwealth nations could be avoided with the use of AI. Laleye Dipo in Minna

The Lead Data Scientist at EPAM Systems, a Turkish company, in Nigeria, Dr. Leonardo Iheme, has called for the adoption and use of Artificial Intelligence (AI) in Nigerian hospitals to enhance the treatment of breast cancer among women. Iheme made the call yesterday in Bauchi while presenting a paper titled: ‘Empowering the AI Revolution: A Guide for Modern Educators at the Abubakar Tafawa Balewa University (ATBU), Bauchi’. He explained that the use of AI could be effective in diagnosing and

kidnapping of school children and their teachers at Emure Ekiti.

The mother of 11 children was arrested alongside her 17-yearold daughter, Joy Chukwu, who said the agreement was to sell the boys and use the proceeds to train the other children. Chukwu was arrested after the state Commissioner for

Women Affairs and Social Welfare, Hon Ify Obinabo, posed as a buyer for the two boys, after she got a hint of Chukwu’s willingness to sell off the children. Chidinma Ikeanyionwu, the media assistant to the

commissioner, who revealed this in a statement, said that the culprits, who confessed to officials of the ministry after their arrest, said the prevailing economic hardship in the country was the reason for their actions.

Explosion: Makinde Signs Order on Safe Handling of Harmful Substances 001 of 2024, and this is on the safe handling and storage of harmful substances within Oyo State. “We are doing this in light of the unfortunate incident at Bodija, where explosives were stored in a residential area. So, dated today, 31st of January

2024, we have the Executive Order, which is now a law in the state.” The event had in attendance the Deputy Governor, Barr. Bayo Lawal; Secretary to the State Government, Prof. Olanike Adeyemo; Chief of Staff, Hon. Segun Ogunwuyi; and

the Commissioner for Justice/ Attorney-General, Barr. Biodun Aikomo. Following the signing of the order, the governor and his entourage proceeded to Ground Zero, the site of the incident, where he monitored the progress of work.

Osun APC Accuses Adeleke of Deliberately Hoarding Six White Papers for Sinister Motives

Expert Advocates AI Application for Breast Cancer Treatment

Segun Awofadeji inBauchi

brutal killings of the two traditional rulers in Ekiti State by bandits, and the reprehensible

Anambra Woman, Daughter Arrested for Attempting to Sell Two Sons David-Chyddy Eleke in Awka

LP Debunks Forgery Allegations in Ebonyi, Edo as Unfounded Chuks Okocha inAbuja

by AYDM General Secretary, Mr. Popoola Ajayi, the group strongly condemned the recent

Papers, “for ulterior motives” 13 days after an official statement announced the release. It would be recalled that on January 18, 2024, the Osun State Government announced the existence of six White Papers, five on various committees which investigated issues raised by the Adeleke Executive

Orders at the inception of his administration on November 27, 2022, as well as White Paper on Education Summit. Among the White Papers approved included those of Committees on Chieftaincy Matters; Contracts/MOU/ Agreements Review Committee; Solid Minerals Committee;

Assets Inventory and Recovery Committee; Staff Audit/ Appointment/Promotions Review Committee and White Paper on Education Summit. The state government directed the state Ministry of Information and Public Enlightenment to publish the six White Papers in the official government gazette.

Ex-President Jonathan to Lead Commonwealth Mission to Observe Pakistan’s Elections to observe the elections in Pakistan and offer an independent and comprehensive assessment of the electoral process. In a letter to Jonathan, the Commonwealth Secretary-General, the Rt Hon Patricia Scotland, expressed her gratitude to the former Nigerian president for agreeing to undertake the

assignment, adding that the Commonwealth Observer Group (COG) would benefit from his leadership, experience and wisdom. The Commonwealth Secretariat in a statement said the 13-member Observer Group is due to arrive in Islamabad on February 1, and will remain in the country until

the electoral process is completed. It quoted the Commonwealth Secretary-General as applauding Pakistan’s commitment to transparency and accountability, adding that the organisation “is pleased to support Pakistan’s democratic journey” and looks forward to peaceful and fair elections.

Two Killed, Several Others Injured as Two Youth Groups Clash in Minna Dangerous weapons such as

on the spot.

Relations Officer, DSP. Wasiu

clashes had become a daily occurrence in the area despite efforts by the security agencies to put a stop to such incidents. State Police Command Public

Abiodun said that those arrested would be charged to court for thuggery, disturbance of public peace, and culpable homicide.

and daggers were used It was not immediately known Abiodun, confirmed the incident United States Bureau for Humanitarian Assistance Hell was let lose in the gbaganu,/ knives by the members of the warring what caused the disturbance saying that 10 suspects have been area of Minna, Niger groups during which one of the but one of the people in the arrested in connection with the Concludes Tour of Benue IDP Camps Fadikpe State, when two rival youth boys called Umaru Aminu was neighbourhood said that such incident.

George Okoh in Makurdi

The United States Bureau for Humanitarian Assistance (USBHA) yesterday concluded its tour of the Benue State internally displaced people’s (IDPs) camp with a resolution to make its finding known to the Benue State Government. This is even as the state Governor, Hyacinth Alia, called for global attention to the current humanitarian crises in the state caused by insecurity.

Governor Alia, who disclosed this when he received the team of officials from the United States Bureau for Humanitarian Assistance said over 1.5 million people in the state are currently without homes and have no access to potable water and other means of livelihood. He added that the government and people of Benue State have been threatened by insecurity due to herdsmen attacks, kidnapping and banditry activities.

groups clashed resulting in the death of two people. Several others were also seriously injured while some properties were destroyed.

stabbed in the stomach causing his death. Another boy, Saidu Mallam, was equally stabbed during the fracas making him to die

Ododo Swears in 18 Commissioners, Other Aides According to him, “We are appointed commissioners in the commissioners as members of

Ibrahim Oyewale in Lokoja

Kogi State Governor, Usman Ododo, has sworn in 18 commissioners and other aides to pilot the affairs of the state in the new dispensation. The governor tasked the newly

state to discharge their duties with utmost sincerity as servant-leaders without fear or favour. Ododo gave the charge yesterday in the Government House in Lokoja during the swearing-in of the 17

the State Executive Council. The governor, who stated that the commissioners were carefully selected based on competent and ability to deliver, said they don’t have any reason to fail in the tasks ahead of them.

expected to hit the ground running for a new era in the development of the state. You should be ready to discharge your duties creditably without fear or favour because it is our collective responsibilities to move the state forward.

THURSDAY, FEBRUARY 1, 2024 ˾ T H I S D AY

GAMINGWEEK Edited by NSEOBONG OKON-EKONG | gamingweek1117@gmail.com | Tel: 08114495324

Sparking Inﬂuence of Celebrities on Sports Betting Phenomenon

Kcee

E-Money

Naira Marley

Drake

Iyke Bede writes that an increasing number of celebrity bettors in Nigeria, some of whom choose not to publicly declare their wins or losses, are taking a bet in the ongoing Africa Cup of Nations (AFCON)

ports betting brands and celebrities, in general, are an inseparable duo. Little wonder there has been a spike in the number of signed celebs as brand ambassadors, ranging from singers to actors to celebrated football stars. In this mutual union, sports bookers leverage the sheer star power of celebrities to put a good foot forward. On the other hand, these celebrities sign contracts with pecuniary benefits. The endgame? The punters are the ones who are usually enticed and sometimes inspired by the brand ambassadors to aspire to greatness through potential wins on placed stakes. Although celebrities like Portable (Lucky Bet), Mikel Obi (BetWinner),

and Broda Shaggi (BetKing) zhuzh up brand’s perception to consumers, more and more celebrities have adopted the betting lifestyle regardless of landing brand deals or not, further influencing their fan bases, converting non-bettors to first-time bettor who eventually experiences all the emotions tethered to guessing, staking and painstakingly waiting through a match or series of matches to know their fate. This phenomenon is not typical of any region. It is ubiquitous. Some well-known international celebrity sports bettors include Jamie Foxx, Matt Damon, Floyd Mayweather, Michael Jordan, and Charlie Sheen. Notorious in this realm is Canadian rapper Drake, who has

now earned an ominous reputation that birthed ‘The Drake Curse’. As many would put it, “If Drake Notorious in this realm is Canadian rapper Drake, who has now earned an ominous reputation that birthed ‘The Drake Curse’. As many would put it, “If Drake places a bet for a particular team or person, go the other way because chances are: you’d win.” Regardless of this reputation, it hasn’t been all losses for the ‘One Dance’ rapper, who has tried the game of chance across various competitive sports such as basketball, football, Formula 1, and the Ultimate Fighting Championship (UFC). With a fondness for Nigeriaborn Israel Adesanya, the revered middleweight mixed martial artist,

Drake believes he will consistently land a winning blow against his opponent. Securing a victory at UFC 276, facing defeat at UFC 281, and achieving a double triumph at UFC 287, this rapper has consistently trusted his gut instinct. Unfortunately, recent events have shown that this approach has faltered. At the recently concluded UFC 297, Drake lost a substantial $700,000 after backing Sean Strickland to defeat South Africa’s Dricus Du Plessis, thus reinstating the ‘Curse’. Singlehandedly, Drake’s exploits in the UFC alone provide more reach and exposure due to the conversations he generates from his wins or losses. Aside from the global stage,

there is also an increasing number of celebrity bettors in Nigeria, albeit many choose not to declare their wins or losses publicly. But for those who do, the thrill in their announcement is quite palpable. In the current Africa Cup of Nations (AFCON), Nigerian singer and songwriter Kingsley Okonkwo, widely recognised as Kcee, revealed on his Instagram page that he secured a prize of N11.7 million by wagering N3 million in favour of the Super Eagles to triumph over Côte d’Ivoire in Group A’s second match. Pledging his support to the national team, he wrote, “Let’s do this again, Super Eagles! My money is on you guys! Eagles, let’s soar high!” In a sad turn of events, Kcee’s younger brother, Emeka Okonkwo,

France’s FDJ Makes Bid to Take over Kindred Group FDJ, operator of France’s national lottery games, has concluded a bid to acquire an outstanding share capital of the European gambling company Kindred Group, forging one of the largest online gambling companies in Europe, reports Nseobong Okon-Ekong La Française des Jeux, better known as FDJ, France’s leading betting and gaming operator and a leading player worldwide, is widely reported to have initiated a move to acquire European gambling company Kindred Group for about $2.5 billion. The World Street Journal reported the takeover bid as an offer to acquire its outstanding share capital, potentially forging one of Europe’s largest online gambling companies. A potential deal comes after Kindred Group announced last April that it was exploring strategic alternatives, including a possible sale of the company. There was also a report in late July that MGM Resorts (MGM) was speculated to be one of the

companies looking at a potential acquisition of Swedish online gambling company Kindred, according to a Betaville “uncooked” alert at the time. It was first reported in July 2022 that Kindred was said to be exploring a possible sale following shareholder pressure on the online gambling operator, specifically from Corvex Management, the New York-based hedge fund, which has been pushing Kindred’s board since 2022 to hire a financial adviser to look at strategic alternatives, including the potential value that could be achieved via a sale or a business combination. Last November, FDJ completed the acquisition of Premier Lotteries Ireland, the national lottery operator, for an enterprise value of 350 million Euros ($381.40 million).

Kindred Group is one of the world’s leading online gambling operators with business across Europe, North America and Australia, offering over 30 million customers across nine brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs approximately 2,500 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and a founding member of IBIA (International Betting Integrity Association). FDJ is the operator of France’s national lottery games and the title sponsor of the FDJ cycling team. The name of the company loosely translates as The French Company

of Games. The official Lotto (called loto) and Euromillions are the most played lotteries in France in 2023. It is managed by FDJ, which is also responsible for a range of other gambling and sports betting in France. The Group is also diversifying with the international marketing of technological solutions, developing a retail payment processing service, and a presence in other entertainment activities. FDJ, a lottery and sports betting game operator, is owned and operated by the French government. The company offers flash games, drawing games, eSports, and sports bets. Its draw games include Euro Millions-My Million,

ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY

Joker+, Loto, Keno Gagnant a vie, and Amigo. Francaise Des Jeux operates two sports betting sites, one distributed under exclusive rights through its retail network (ParionsSport Point de Vente).

popularly known as E-Money, didn’t enjoy the same fate as him. Prior to AFCON, E-Money has been noted for his passion for betting on games. He regularly shares a screenshot of his accumulator with over 13 million followers. E-Money missed the opportunity to secure N12.3 million with a N3 million wager on Nigeria scoring more than one goal (over 1.5) against Côte d’Ivoire. The match concluded with a solitary goal in favour of Nigeria. At the time of posting on Instagram, a substantial portion of his followers replicated his actions, wagering per their financial capabilities. Upon revisiting the post, a notable number expressed deep disappointment from the loss, while others sought solace, reaffirming their confidence in his match prediction skills. As the AFCON is now in its knockout phase, one can anticipate heightened engagement from these celebrity punters. This increased activity is poised to have a considerable impact on their substantial following, regardless of whether the Nigerian team advances beyond the quarterfinal in which the Super Eagles are billed to tackle the Angolan national team.

GAMINGWEEK TEAM Nseobong Okon-Ekong gamingweek1117@gmail.com | 08114495324 Iyke Bede ikennabede@gmail.com | 0703 044 7714 Akeem Lasisi lasaisai@yahoo.com | 08023687884 Vanessa Obioha vaysylver@gmail.com | 08069838305 Davidson Abraham davisiano.adm@gmail.com | +971 56 744 6013

T H I S D AY ˾ , ͸͹˜ ͺ͸ͺͼ

THURSDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Excitement, Anxiety Grip Fans Ahead Nigeria, Angola Battle for S’ﬁnal Ticket

Duro Ikhazuagbe Ahead of Friday’s Africa Cup of Nations’ quarter final clash between Super Eagles and the Palancas Negras of Angola, Nigerian fans are gripped with excitement mixed with anxiety. This crunch match will be aired on StarTimes Sports Premium and Beta Sports channels at 6pm on Friday. Football fans can watch all quarter-final AFCON matches for as low as N1500 weekly on StarTimes. In nine head-to- head meetings, Super Eagles have won three and drawn five matches with the Palancas Negras, who have surprised at this AFCON in Côte d’Ivoire with some big results while playing attractive attacking football. Even as most fans express faith in the Super Eagles to surmount the hurdle posed by the Angolans and grab the ticket to the semi final, few others keep recalling the misadventure of 2005 in Kano when Palancas stopped Nigeria from qualifying for the 2006 World Cup in Germany. “This Super Eagles will beat Angola and qualify for the semi final, mark my words, began Aikhoje Ojeikere, a television pundit. The sports journalist with considerable experience in coaching told THISDAY this AFCON 2023 trophy will land in Nigeria on February 11 when the final game is played. Aikhoje’s belief in Super Eagles is the representation of the mood of Nigerians on the social media. However, others are calling for caution, preferring instead to sit on the fence as the clock ticks towards the Friday kick off time for the all important game for Super Eagles. Obi Chika, a football fan, spoke his mind in a pub this week. “Many surprises spring up in this AFCON 2023. As it is, there are no big or small teams any more. If Senegal, Egypt, Morocco, and

Cameroon could be eliminated halfway, while smaller teams are shining brighter, then we can’t take Angola for granted,” observed Obi Chika.

But this isn't just another game for Nigerians. It's a chance to exorcise the ghosts of past AFCON disappointments and reignite the nation's football flame.

However, the more defiant Nigerian fan like Bayo Ope has fired back at pessimists, insisting that this trophy is there for Super Eagles to win after all the favorites

have been sent packing from the tournament. "We have a strong team, with experienced players like William Troost-Ekong and exciting youngsters like Victor Osimhen, Ola Aina, Samuel Chukwueze and others," declared Lagos resident Bayo, his voice thick with anticipation. "We've overcome tough challenges before, and I believe we can do it again. This is our year!"

Q’FINALS FIXTURES (FRIDAY) Nigeria v Angola (6pm) DR Congo v Guinea (9pm)

(SATURDAY) Mali v Côte d’Ivoire (6pm) C’Verde v S’Africa (9pm)

Goldberg, Life & Zagg Fortify Eagles for Angola Showdown

Super Eagles defender Kenneth Omeruo (right) and midﬁelder Joe Aribo eﬀectively caged Paul Onuachu during Wednesday training in Abidjan

The Super Eagles' sweet victory over Cameroon’s Indomitable Lions has offered renewed hope for a fourth AFCON title for Nigeria in Cote d’Ivoire. Official partners, Goldberg, Life Beer, and Zagg Energy Malt drink remain solidly behind the Super Eagles, urging them to conquer Angola in Friday’s quarter-final contest and secure a coveted semi-final spot. While reiterating their maximum support for the Super Eagles, these Nigerian Breweries brands are simultaneously keeping fans engaged and rewarding their passionate support. "Yes, we want the Eagles to go all out on Friday against Angola, that is why we are galvanizing all the support for the team," said Head of Marketing Communications, Nigerian Breweries Plc, Sandra Amachree yesterday. Amachree noted the excitement around the AFCON tournament is increasing as the Super Eagles are progressing, hence the trio of Goldberg, Life Beer, and Zagg are matching the tempo with increased activations. Goldberg, the iconic Nigerian

lager, isn't just raising the volume across selected viewing centres; it is also raising the stakes with interactive Fantasy League Challenge (FLC). Amachree stressed that fans can predict match outcomes and score points, with top predictors walking away with amazing prizes. The "OmoluabiGameOn" campaign goes further, encouraging predictions and rewarding loyal supporters with the hashtag #OmoluabiGameOn. For Life Continental, the official beer of the Super Eagles, it is bringing the taste of victory to fans across the country. With special viewing events and exciting in-bar activations, Life is ensuring that every fan feels the electrifying atmosphere of the game, raising a glass (or two) to their favorite team ZAGG, known for its vibrant energy drinks, has transformed into a symbol of passionate support for the Super Eagles. The Energy Drink with Malt [NE1] is ensuring the Eagles feel the full force of the nation's support behind them.

Oghoghorie Eyes Delta Inter Lagos FC Formally Launched with Vision Sports Commission's Top Job Amid Intense Lobbying

to Become Beacon of Hope for Footballers Inter Lagos FC, the embodiment of Nigerian football excellence and Lagos’ community spirit, was formally launched to the sporting media yesterday. The club's press launch, held on Wednesday at the Raddison Blu Hotel on Victoria Island, left attendees from the local and African sports media inspired by its ambitious mission. Led by the visionary leadership of Lanre Vigo, Co-founder and CEO, Inter Lagos FC showcased its commitment to setting a new standard in football administration. Supported by a team of highachievers including Olumide Fayankin, Director & Co-founder; Gatumi Aliyu, Director & Co-founder; Oluwatosin Fashoyin, Chief Operating Officer; Gabriel Adigwe, General Manager, and Gabriel Ezema, the team's head coach, the club unveiled its dynamic approach to growth and on-the-field execution. While fielding questions regarding the club's purpose, Lanre Vigo emphasised, “Our commitment extends far beyond the pitch. We envision Inter Lagos FC not only as a powerhouse in football, but as a beacon of inspiration for our players, moulding them into exemplary individuals who will positively impact society. As we strive for excellence in every match, our ultimate goal is to create a legacy of integrity, resilience, and community engagement, serving as a guiding light for young football enthusiasts

across Africa.” He continued, “We believe that by instilling values of discipline, teamwork, and perseverance, we can empower our players to become leaders and national references.” Inter Lagos FC's recent performances underscore its commitment to excellence, with an impressive unbeaten streak of six matches, including five consecutive victories. The club's head coach reaffirmed a pledge to implement a balanced playing style that promises to delight fans and spectators alike.

Affectionately known as “The Pride of Lagos,” the club invites lovers of good football to join in the excitement at its next home game against Osun United FC at the iconic Mobolaji Johnson Stadium, Onikan. As the club continues to make strides on and off the pitch, it remains steadfast in its mission to inspire, unite, and uplift communities through the beautiful game of football. Meanwhile, the captain of the team, Kazeem Jubril, said the players are excited to be on the team,

noting that they were ready to up their careers by lifting the team to greater heights: “We are desirous of taking our career to the greater heights. We won’t let the management down and we are very passionate about this team. “When you look at us, you will see young and skilled players very desirous of making our marks in the game and we are starting with Inter Lagos and making sure that this club takes Nigerian football by storm.”

L-R: Lanre Vigo, Co-founder/CEO, Inter Lagos Football Club; Oluwatosin Fashoyin, COO; Gabriel Ezema, head coach; Kazeem Jibrin, team captain; Adigwe Gabriel, General Manager, football; and Olumide Fayankin, Co-founder, during the press launch of Inter Lagos Football Club in Lagos... yesterday

Olawale Ajimotokan ÓØ ÌßÔË A 26-year-old lawyer and a sports policy and development expert, Kesiena Igho Oghoghorie has emerged as a contender for the position of the Chairman Delta Sports Commission. The race to replace the incumbent Chairman of the commission, Tonobok Okowa, whose tenure epxpired in January this year is taking shape with many formidable contenders jostling for the position. Oghoghorie's unique blend of legal prowess and strategic vision has positioned him as a potential game-changer in the realm of sports governance. He was an outstanding athlete at the University of Kent, Canterbury, UK. He honed his skills and represented his university at the British University Athletics Indoor and Outdoor Championships. That early exposure to competitive sports laid the foundation for his subsequent achievements. Oghoghorie founded the K.I.O Consult, a sports consultancy firm and orchestrated the first international Abuja Inter-Secondary Schools Athletics Championships in 2022 at the age of 24. This groundbreaking event, sanctioned by the Athletics Federation of Nigeria (AFN), showcased Oghoghorie's ability to raise substantial funds independently—a valuable asset for Delta's sports landscape. As a prolific writer and the legal and policy adviser to the African Boxing Confederation, headquartered in Cameroon, Oghoghorie's multi-

faceted expertise transcends borders, with many saying his innovative and forward-thinking approach is "ahead of his time" and a quality that adds a unique dynamism to his candidacy. Aside his diversity in engaging with various sports federations, including the Nigeria Boxing Federation, Nigeria Mixed Martial Arts Federation, Athletics Federation of Nigeria, among others, showcases his wide-ranging impact and influence across different sporting disciplines. He is also a sports aficionado, who regularly appears on TV and pens newspaper columns to the discourse on sports policy and development. Observers of the keen contest in Delta State say Oghoghorie is apart from others from the comprehensive policy plan he has ready for Delta's sports landscape. The unprecedented plan covers infrastructure, athlete welfare, minister financial sustainability an economic viability blueprint for the football clubs in the state and more. Watchers say that if appointed, Oghoghorie will immediately unveil this transformative blueprint—an initiative that sets him apart from other aspirants. Ands as the jostling for Delta Sports' plum job intensifies, speculation is rife that given Oghoghorie's age, Governor of Delta State, Sheriff Oborevwori might look his way and appoint him as the youngest ever chairman of the Delta Sports Commission, ushering in an era of innovation, vibrancy, and unparalleled success.

Thursday, February 01, 2024

UT H

& RE A S O

Price: N400

MISSILE

Atiku Abubakar to Bola Tinubu To imagine that the Commander-in-Chief is on a so-called private visit while kidnappers kill a nursing mother and grandmother in Abuja for failing to pay N90 million ransom and two monarchs in Ekiti, among other regular tragedies besetting Nigerians. If the shoes are too big for Emilokan, he should step aside. Nigeria does not need another tourist-in-chief. The country needs 24/7 leadership to confront the pervasive insecurity and collapsing economy—former vice president, reminding the president of his obligation to Nigeria.

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

ECOWAS and the Three Rebels

n Sunday, the coup leaders in Niger, Mali and Burkina Faso announced the withdrawal of their countries from the Economic Community of West African States (ECOWAS). In a joint statement, the three military heads of states said it was a “sovereign decision” to leave ECOWAS “without delay,” because of the “inhumane” sanctions imposed against their countries. They also accused ECOWAS of having “moved away from the ideals of its founding fathers and Pan-Africanism”; claiming that the bloc is now “under the influence of foreign powers.” ECOWAS, according to the military leaders, “notably failed to assist these states in their existential fight against terrorism and insecurity.” First, we must understand the desperation that pushed the trio of Captain Ibrahim Traore, General Abdourahmane Tchiani and Colonel Assimi Goita to take the action they did. Their three landlocked countries have been under tremendous domestic pressure since being suspended from ECOWAS: Mali in 2020, Burkina Faso in 2022 and Niger last July. The military rulers signed a defence pact, Alliance of Sahel States founded on the Mafia code of ‘one for all and all for one’ and severed military and cooperation ties with France, their former colonial power. They have now turned to Russia, long seeking a foothold on the continent. Before I deal with the Russian angle, let me state that this is a problem for us in Nigeria only to the extent that we are seen as leader of the sub-region. President Bola Tinubu is also the current ECOWAS Chairman. Yes, there is a lot to say about a whimsical approach to serious problems becoming emblematic of the current Tinubu administration. And I am aware of the enormous economic and security challenges that plague our country. But Burkina Faso, Niger and Mali, three countries that collectively account for 8% of the $702 billion ECOWAS Gross Domestic Product (GDP), are not being helped by their military adventurers on this issue. Not many people remember but ECOWAS was founded by 16 members comprising former British, French, and Portuguese colonies within the subregion. In 2000, Mauritania withdrew its membership in preference for the Arab Maghreb Union (AMU) which it had joined, even when there was nothing stopping the country from belonging to two regional bodies. It did not take long before Mauritanians begun expressing regrets. Yahya Ould Ahmed Waghef, a former Prime Minister (2008-2009), has deemed his country’s withdrawal from ECOWAS ‘a big mistake.’ Of the 54 African countries, according to Waghef, 27 are members of two regional groupings, 18 belong to three groupings and one country is a member of four groupings hence “we have the right to belong simultaneously to two sub-regional organizations (ECOWAS and AMU).” With that opportunity lost, Mauritania is back today in ECOWAS but as an associate member. Meanwhile, the main ECOWAS challenge for Nigeria is in Niger where President Tinubu is walking a tightrope. Last November, the Northern Senators Forum (NSF) issued a communique indicating quite clearly that there is no consensus in Nigeria as to how to deal with the Niger coup. “The Northern Senators Forum asks ECOWAS to lift restrictions on Niger Republic in the interest of business at

President Bola Tinubu our border communities. It is important that Nigeriens should not suffer as a result of coup in their country just as we are seeing what is happening in Gaza,” said NSF Chairman, Abdul Ningi, who read the statement after their meeting. “We call on Niger and Nigeria that we remain brothers, we remain partners and we remain Africans.” There are other complexities and sensitivities

the president must understand. The Nigeria-Niger border is 1,608 kilometres long and traverses seven states: Sokoto, Kebbi, Zamfara, Jigawa, Yobe, Katsina and Borno. People in these states engage in open trade across borders and their livelihood is dependent on transactions that are now hampered. Tinubu’s immediate predecessor, President Muhammadu Buhari, we must also remember, admitted openly that Niger is a second home for him. So, already there is domestic pressure that relations be normalised with Niger. General Abdourahmane Tchiani understands these dynamics strengthen his hand and perhaps explains why he is playing hard ball. That’s also why President Tinubu (and by implication, the ECOWAS he chairs) cannot afford to be rigid. At some point, there will have to be a compromise. And whatever goes for Niger must go for Mali and Burkina Faso. Now to the Russian angle. In an interview with ARISE NEWS on Monday, former Minister for Foreign Affairs, Professor Bolaji Akinyemi, argued that Russia may be “emboldening these three countries to break up ECOWAS as part of the attempt to weaken what one will call the western influence in this part of the world.” Yet, according to Akinyemi, “Russia has not shown that it has the capability to help these three countries to combat the jihadists, the Tuaregs, the ISIS who are running wild in the Sahel.” To the respected diplomat, Nigeria and the regional bloc now contend with a crisis, essentially “because these three countries, in terms of landmass, that’s about half of ECOWAS. So, we’re not dealing with just a little hiccup on our hands.” Regarding allegations by the three countries that ECOWAS is being teleguided by foreign powers, Akinyemi said it was clear what they mean. “You know the power that they are referring to, and presumably, the fact that our president is in France at the moment kind

of reinforces this fear in their minds that the ECOWAS policies are actually French policies,” said Akinyemi. “We’re going to need some clever steps, diplomatically on this matter, and I think that ECOWAS needs some fast thinking to make sure that this situation does not get out of hand.” I am aware that Russia is investing considerable resources (mostly non-financial apart from wheat donations) to gain a stronger foothold in a number of African countries. Russia has been deploying two vehicles: Military through the Wagner mercenary group and media propaganda, especially against France. In practically all the French speaking countries on the continent, local social media influencers are being contracted to spread pro-Russia (and anti-France) propaganda. “I manage the cyberwar, the media war… and (the late Wagner leader, Yevgeny) Prigozhin conducts military activities,” Luc Michel, who heads the media machine told BBC two years ago. “I think that Russia must replace the French in all of Africa.” So, obviously, there is no altruism in the Russian intervention in these countries. After almost 50 years, ECOWAS has become part of the political and economic lifeblood of the subregion. To that extent, Nigeria’s very strategic importance and political stability are tied to the survival of the regional bloc. The leadership role we play makes the threat to its existence a serious matter. Therefore, the challenge of the moment requires deft diplomatic leadership that is inclusive and multicultural. That is the best way to neutralize the departure of France from the affected countries. As for the Russian meddlesomeness, it can be dealt with as part of the global anti-authoritarian drive. That of course presupposes strengthening our democracy at home and working for the peace and prosperity of our people.

Nigeria, 105 Years Ago…ll

n the first part of this series started last week, I excerpted from ‘The Nigeria Handbook 1919 (Issued with the approval of the Nigerian Government)’—a 304-page publication which contains ‘Statistical and General Information respecting the Colony and Protectorate’. The main idea was to draw lessons from the Nigeria of 105 years ago. Although I promised to continue the excerpts, I no longer see the need for it given the feedback I received. Most of the mails centre around our colonial experience and ‘where the rain started to beat us’ which, for me, cannot be a justification for our failings. I do not discount the harm of colonialism, but I believe Nigeria is what it is today because of the choices made in the past 63 years. The Republic of Cyprus, an Eastern Mediterranean Island was not only colonised like Nigeria but also shares with our country the same Independence Day: 1st October 1960. Like Nigeria, Cyprus has faced wars, military coups and all manner of disruptions, instigated from within and without. But unlike Nigeria, Cyprus has done relatively well for itself. In practically all development indicators, Cyprus has fared far much better than Nigeria. So, we cannot continue to cite our colonial experience as reason for the rot in our society. The paradox, as I have written in the past, is that while Nigeria may not be doing well as a country, many of our citizens are doing well as individuals—both at

home and in the Diaspora. There is hardly any compilation of the Global 100 in any sphere of human endeavour that does not include at least one Nigerian. That has been the consistent pattern no matter the metrics used and regardless of the field profiled. Interestingly, my young friend, Ejiro Oghenechovwen, who until recently worked with the Nigeria National Petroleum Company Limited (NNPCL), seems to understand the essence of my intervention. And I crave the indulgence of readers to publish his mail before I conclude. “I have just finished reading your column on ‘Nigeria, 105 years ago’. I am particularly jolted by your comment that there was no conscious effort at nation building by Nigeria’s postcolonial leaders. Beyond it being painfully true, it strongly suggests that not even national or subnational government and governing processes (which we aren’t even doing well in) are sufficient for a pluralistic country like ours. “I am delighted that the compiler of the 1919 handbook under reference admitted that organization and order were existent in precolonial Nigeria, contrary to the widespread Western view of an inherently savage and barbaric Africa. Furthermore, hearing a then-active participant in the country’s blossoming political process describe the obtainable government structure as indirect rule is, to me, liberating, as I had always believed that the term was coined

in retrospect by future historians. Interestingly, I find astonishing your statistical comparison of the elements of the trade balance between the period covered and that of 2018. The proximity of 1913’s figures to 2018’s is saddening and depicts a merry-go-round affair over a century later, so that, beyond the incredulous fact that we now import palm seedlings - the products of which we earlier exported at two-thirds output volume as you revealed, we have always been a predominantly mono-product economy. When it is palm seeds and their produce, it is majorly palm seeds and their produce; and when it is crude oil, it is equally almost totally crude oil. In other words, we have historically not fared well with diversification. “It is, therefore, imperative that we pay serious attention to the nation-building question, realizing that the call to leadership goes beyond maintaining, servicing, or upgrading processes, systems, and entities year after year and one democratic dispensation after another. It is also about consciously and masterfully moulding consensus, ensuring that everyone is on the same page - or at least, the same chapter - and journeying collectively, even if in pools and batches, in the same direction. This requires sincerity, courage, and continuous concession-making…

Note: Piece concluded online

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