FRIDAY 4TH FEBRUARY 2022 by THISDAY Newspapers Ltd

ECOWAS to Deploy Stabilisation Force in Countries Under Threat of Military Takeover Osinbajo: Democratic election only way to government change Deji Elumoye and Michael Olugbode in Abuja

The Economic Community of West African States (ECOWAS) has reiterated its commitment

to democracy, saying it has decided to move in military force to stabilise countries under

the threat of military take-over. The regional bloc disclosed this after an Extraordinary

Summit in Accra, yesterday, chaired by Ghana's President and Chairperson of ECOWAS,

Nana Akufo-Addo. Continued on page 10

In Major Setback for Oil Production, Shell Defers Expansion Work on 225,000bpd Bonga Oilfield... Page8 Friday 4 February, 2022 Vol 27. No 9796. Price: N250

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2023: PDP Yet to Take a Decision on Zoning Presidency, Nwodo Insists...Page 49

APC Formally Informs INEC of Feb. 26 Convention Date

Adedayo Akinwale in Abuja

L-R: Chief of Staﬀ, Prof. Ibrahim Gambari; SGF, Mr. Boss Mustapha, Governor of Plateau State, Mr. Simon Lalong, President Muhammadu Buhari, President of the Senate, Dr. Ahmad Lawan, during the launch of revised national Population Policy and Inauguration of National Council for Population Management of Nigeria... yesterday SUNDAY AGHAEZE

The All Progressives Congress (APC) has written to the Independent National Electoral Commission (INEC) to officially communicate its plan to hold a Continued on page 10

Zulum: We Must Defeat ISWAP at All Cost Else B’Haram will Be Child’s Play Says it’s time to consider hiring mercenaries Canvasses change in security agencies' recruitment process Govt tracks, identifies 96 financiers, 123 companies, 33 Bureau-de-change, others involved in terrorism Iyobosa Uwugiaren, Deji Elumoye, Chuks Okocha in Abuja and Francis Sardauna in Katsina Borno State Governor, Professor Babagana Zulum, yesterday, expressed concern about the increasing sophistication and

spread of the terrorist group, Islamic State's West Africa Province (ISWAP), in the state. Zulum said the federal government must do everything in its power to defeat ISWAP now, or else the menace Continued on page 10

PIA: House Moves to Transfer Defunct National Oil Corporation’s Assets to NNPC Limited... Page 6

THE 2021 SUKUK PROCEEDS CHEQUES... L-R: Minister of Works & Housing, Mr. Babatunde Fashola,; Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed; Director General, Debt Management Oﬃce, Patience Oniha and Chairman, Senate Committee on Local & Foreign Debt, Senator Cliﬀord Ordia, during the presentation of the 2021 Sukuk Issue Proceeds Cheques to the Federal Ministry of Works & Housing and other Implementing Ministries at Abuja...yesterday

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

I WANT A SECOND TERM... L-R: Speaker Osun State House of Assembly, Timothy Owoeye; Wife of Osun state governor, Kafayat Oyetola; Governor of Osun State, Isiaka Oyetola; National Secretary of APC Caretaker Committee, John Akpanudoedehe, Senator of Osun Central, Ajibola Bashiru and Director of Organisiation, APC, Prof. Yusuji Medana, during the submission of the ENOCK REUBEN Expression of Interest and Nomination Forms at the party National Secretariat in Abuja... yesterday

PIA: House Moves to Transfer Defunct National Oil Corporation’s Assets to NNPC Limited Udora Orizu in Abuja The House of Representatives has begun moves to transfer assets belonging to the defunct Nigerian National Petroleum Corporation (NNPC) to the newly established Nigerian National Petroleum Company Limited, in line with the Petroleum Industry Act (PIA). The lawmakers had for this purpose set up an ad-hoc committee to ascertain the total inventory, assets, interests and liabilities of the NNPC before

transferring it to NNPC Limited, to ensure a glossary accounting system. Section 53(2-5) of the PIA stipulates that government of the federation shall hold full ownership of the NNPC Limited with the share held by the duo of Federal Ministry of Finance Incorporated and Ministry of Petroleum Incorporated on behalf of the government of the federation. Section 53(5-8) of the PIB Act stipulates government’s intention to set in motion

WHO: Africa Records 1.1 Million New Cancer Cases, 700,000 Deaths Annually Onyebuchi Ezigbo in Abuja The World Health Organisation (WHO) yesterday said Africa records about 1.1 million new cases of cancer every year resulting in 700,000 deaths. In a message to commemorate this year's World Cancer Day, the world body said more than 400,000 children were diagnosed annually with cancer around the world, with about 90 per cent living in low- and middle-income countries. In the message issued by the WHO Regional Director for Africa, Dr. Matshidiso Moeti, it urged member states in the continent to make the necessary investment required to ensure that all our citizens, no matter their incomes or geographic location, have access to quality cancer care. "Every year, Africa records around 1.1 million new cases of cancer, resulting in up to 700 000 deaths. Breast cancer, along cervical, prostate, liver and colorectal cancers, account for almost half the new cases on the continent annually. "Children are also inequitably impacted. Of the more than 400, 000 children diagnosed annually with cancer around the world, about 90 per cent live in low- and middle-income countries. “Survival rates are at

a very low 20 per cent or less in African countries, compared to more than 80 per cent in developed countries," it said. According to Moeti, this year’s theme, “Close the care gap,” marked the start of a three-year campaign to raise global awareness around cancer and its impacts, especially among most vulnerable citizens. Moeti said renewed efforts to curb new cancer cases were urgent, adding that there are alarming projections that cancer death rates in Africa would rise exponentially over the next 20 years, outstripping the global average by 30 per cent. He also said that common challenges across the African region included lack of awareness and education, limited access to primary prevention and early detection services, coupled with delays in diagnosis and treatment. "There is also limited access to palliative care and pain relief. Shortages of specialists in medical and radiation oncology, pathology, medical physics and other essential areas compound the gaps. “Africa has only three per cent of the world’s cancer treatment facilities, with radiotherapy available in just 22 countries in sub-Saharan Africa, which contributes to poor survival rates,” he added.

the process of immediate commercialisation and privatisation of the operation and future private ownership of NNPC Limited. Similarly, Section 54 of the Act provides that “all assets and liabilities of the NNPC will be transferred to NNPC Limited.” The ministers of Petroleum and Finance are saddled with the responsibility of determining the assets, interests and liabilities of NNPC, which are to be transferred within 18 months of the PIA coming into effect. Chairman of the committee, Hon. Kingsley Uju Chima, who presided over a meeting of the panel, said there were plans to meet with Chief Executive Officer of NNPC Limited, Mele Kyari, soon. Chima said there would be an interface with Minister of State for Petroleum Resources, Chief

Timipre Sylva; Governor of Central Bank of Nigeria (CBN), Godwin Emefiele; and Minister of Finance, Budget and National Planning, Zanaib Ahmed on the matter. The committee by its mandate would also request yearly audited reports of NNPC from the Nigeria Extractive Industries Transparency Initiative (NEITI) to compare with the NNPC audited reports with that of the agency. Addressing the meeting, Chima said the oil and gas industry was still faced with corruption, mismanagement, crisis, and environmental degradation, lack of refining capacity. He said, "The decision of the House is in sync with the provisions of Sections 88and 89 of the 1999 Constitution of the Federal Republic of Nigeria (as

amended). It is also hinged on the provisions of Section 54 of the recently signed Petroleum Industry Act. 2021. “The legislative intervention is in alliance with Section A 1.03 of the introduction part of the Legislative Agenda of the 9th Assembly (2019 – 2023), which states, ‘The 9th House will seek to undertake reforms of critical sectors of the Nigerian society and economy with a view to improving the conditions that allow for investment, innovation and economic growth.’ “Crude oil dominates Nigeria’s economy and account for about 86 per cent of export earnings in our country. We have the largest oil and gas reserves in Sub-Sahara Africa with an estimated 37 billion barrels of oil and 188 trillion cubic feet of gas as of July 2021. “It is depressing that,

despite the abundant natural endowment, the oil and gas industry has been plagued with corruption, mismanagement, crisis, environmental degradation, lack of refining capacity, etc.” He added, "Section 54(2) of the Act also stated that any assets, interests or liabilities not transferred shall remain that of NNPC until extinguished or transferred to government six months after the determination in section 54(1). “The Minister of Finance and Attorney General of the Federation shall develop a framework for payment of liabilities not transferred to the NNPC Limited. If the determination and transfer is not done within the stipulated 18 months, the assets, interests and liabilities are deemed transferred to NNPC Limited."

NUPRC Begins Probe as 22,000bpd SEPCOL Oil Vessel Explodes in N’Delta Three confirmed dead, 11 declared missing after explosion Emmanuel Addeh in Abuja; Peter Uzoho in Lagos and Sylvester Idowu in Warri The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it has commenced an investigation into the circumstances surrounding the explosion of a Floating Production, Storage and Offloading (FPSO) vessel in Warri, Delta State. The vessel with a capacity to process up to 22,000 barrels of oil per day, inject up to 40,000 barrels of water per day and store two million barrels of oil exploded and sunk at the Ukpokiti Terminal, around Excravos in the early hours of Wednesday. THISDAY checks showed that the huge facility, TRINITY SPIRIT, was built in 1976 (46 years ago), with a carrying capacity of 274774 Dead Weight Tonnage (DWT) and an overall length of 337.05

metres as well as a width of 54.5 metres. The asset is owned by Shebah Exploration and Production Company Limited (SEPCOL), now in receivership, which in 2004 acquired all of 40 per cent of ConocoPhillips equity interest in OML 108. A statement signed by NUPRC’s Mr. Paul Osu, on behalf of the Gbenga Komolafe-led commission, made available in Abuja, the commission stated that it was working closely with other relevant agencies of government to get to the root of the matter. “NUPRC wishes to announce that an explosion leading to a major fire on an evacuation vessel at Ukpokiti field (OML 108) in Delta State was reported by our operations team on Wednesday 2nd February 2022. “The commission in line with its statutory regulatory oversight of upstream petroleum operations in the Nigerian oil

and gas industry has commenced investigations into the incident in conjunction with relevant stakeholders and will provide updates appropriately. “There has been no report of any casualties or fatalities and the commission will take necessary measures to ensure that all safety and environmental measures in line with global best practices to safeguard lives and the environment are put in place,” it noted. SEPCOL (now in receivership), according to earlier THISDAY checks, is owned by a combination of Nigerian and overseas corporate entities, which include: Abbeycourt Trading Company Limited (ATCO), Abbeycourt Petroleum Company Limited and Allenne Limited. The FPSO serves as the primary production facility of for OML 108 and is also a government approved terminal for lifting operations for all OML

108 production. It was learnt that about 10 persons were within the facility when the incident occurred who had yet to be accounted for at the time of going to press. On the other hand, a statement by the Chief Executive Officer, Shebah Exploration and Production Company Ltd (in receivership), Ikemefuna Okafor, obtained by THISDAY confirmed the incident, but stated that at the time it was preparing the public announcement, there were no report of casualties. In the release titled: “Fire Incident on The Trinity Spirit FPSO,” the company announced that the incident happened in the early hours of Wednesday. While stating that investigations were going on to ascertain the actual cause of the explosion, the organisation noted that as required, it had already reported the matter to the appropriate government agencies.

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ISWAP'S THREAT IS REAL… L-R: Special Adviser to the President on Media, Mr. Femi Adeshina; Borno State Governor, Prof. Babagana Zulum and Senior Special Adviser to President on Media, Mallam Garba Shehu, during the weekly media brieﬁng at the Presidential Villa, Abuja ... yesterday

In Major Setback for Oil Production, Shell Defers Expansion Work on 225,000bpd Bonga Oilfield Oil giant announces $19.29bn 2021 full year earnings Emmanuel Addeh in Abuja In a big hindrance to Nigeria’s hope of raising its poor daily oil production, Shell has said it would delay expansion work at its Nigerian offshore Bonga field by another two years. A report by S&P Global Platts, a financial indices provider, said the development was a major blow to Nigeria’s quest to grow its crude production after a series

of technical and operational setbacks, quoting sources close to the project. In May 2021 Shell, along with its partners, signed a deal with the Nigerian National Petroleum Company Limited (NNPC) in the deepwater oil block Oil Mining Lease 118, clearing the path for a major expansion of the country's Bonga oil and gas field. The development was previously shelved due to a long-standing

tax dispute with Shell, the operator of the field, S&P recalled. After the resolution of the dispute, Shell once again invited bids for the construction of a new floating production storage and offloading (FPSO) unit for its Bonga Southwest deepwater oil field in Nigeria. However, the response to the tender had been underwhelming, a senior official at NNPC told S&P Global Platts. "There has been a delay in

progressing with the tendering process for the Bonga Southwest field. The tenders have been put on hold till around 2024," the official was quoted as saying. A spokesman for the Shell Petroleum Development Company (SPDC), Nigeria, confirmed that the contract award for the construction of the 150,000 bpd Bonga Southwest FPSO had been put on hold. "The Bonga Southwest has

FG: N250bn Sukuk Proceeds to Form Part of 2021 Capital Funding Releases N3.4trn for capital projects Ndubuisi Francis in Abuja The federal government has explained that proceeds of the N250 billion sovereign Sukuk issued last December by the Debt Management Office (DMO) would be released as part of the 2021 capital expenditure. This is in line with the Appropriation Act, which had been extended to March 31, 2022, by the National Assembly. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who stated this in Abuja, yesterday, also disclosed that a total of N3.4 trillion had been released for capital projects as of November 2021. Speaking at the symbolic cheque presentation ceremony of the N250 billion Sukuk proceeds to the implementing ministries, the minister disclosed that since the emergence of Sukuk as a financing window for infrastructure in September 2017, a total of N362.557 billion had been given to the Federal Ministry of Works and Housing (FMWH) to fund key road projects. Ahmed stated that in view of the significant milestones recorded in the use of Sukuk

to reconstruct and rehabilitate road infrastructure, with visible evidence, the government decided to incorporate other ministries with critical road projects into the Sukuk funding structure. She said: "Today, we have the Federal Capital Territory Administration (FCTA) and Ministry of Niger Delta Affairs (MNDA) joining us. The three ministries (FMWH, FCTA and MNDA) will be sharing the Sukuk issue proceeds of N250 billion, which was successfully issued by the Debt Management Office (DMO) on behalf of the Federal Government of Nigeria on December 29, 2021." The minister stated that the disbursement of the N250 billion gives the FMWH N210,565,000,000.00; FCTA -N29,000,000,000.00; and MNDA - N10,435,000,000.00. On the performance of the 2021 budget, Ahmed noted that as of November 2021, N3.4 trillion had been expended on capital projects, which represented over 74 per cent performance when compared to the total capital budget of N4.569 trillion. According to her, out of the released N3.4 trillion, N2.98

trillion represented 83 per cent of the provision for ministries, departments and agencies (MDAs’) capital, N369.9 billion for Multi-lateral/ Bilateral Project-tied loans, and N49.52 billion as Government Owned Enterprises (GOEs) capital expenditure. Assuring that the government would continue to prioritise spending on critical infrastructure in order to sustain the momentum on gross domestic product (GDP), the minister noted the 4.2 per cent projected growth in 2022 can only be possible through steady increase in spending on critical infrastructure, such as roads. "I wish to congratulate the DMO for the introduction of the Sovereign Sukuk and for the successes recorded in raising the funds through the product, which now stands at a total sum of N612.557 billion," the minister said. In her remarks, the Director General, DMO, Ms. Patience Oniha expressed delight that since the debut N100 billion Sovereign Sukuk in September 2017, the DMO had issued three more, getting better each time and bringing the total amount so far raised through the Sukuk

window to N612 557 billion. Oniha noted that the introduction of Sukuk as a source of raising funds for government had improved road infrastructure across the six geo-political zones. According to her, the acceptance of Sukuk by investors and the verifiable evidence of its benefits had encouraged some state governments and institutions to raise funds through Sukuk issuance. On the last Sukuk issued last December 29, Oniha stated that the level of investor interest in the product was evident from the subscription of over N865 billion received from diverse investors for the N250 billion offered. Also speaking at the event, the Minister of Works and Housing, Babatunde Fashola highlight some of the results achieved with the proceeds of Sukuk since its debut in 2017. According to him, the first Sukuk of N100 billion was deployed to 25 roads with a total delivery of 482 kilometers of roads across the country, while the second Sukuk in 2018 of the same amount was deployed to 28 roads and delivered a total of 683 kilometers of roads.

been deferred," he said, declining to offer further details. However, sources at NNPC and Shell, the report noted, said delays could be related to a change in Shell's upstream strategy as part of its net zero ambitions. Shell is Nigeria's biggest oil producer, but the oil giant in recent years has complained about some commercial and security issues. In May 2021, Shell’s Chief Executive Officer, Ben van Beurden, told investors the company was focusing more on its Nigerian deepwater and gas assets after it deemed its onshore oil portfolio in Nigeria, "no longer compatible" with its strategic ambitions, which include a focus on climate change and net zero carbon strategy. The energy major is currently in talks with the federal government to sell at its onshore oil assets. Bonga, Nigeria's first deepwater oil field, currently has the capacity to produce 225,000 bpd of crude oil and 150 MMcf/d of gas which feeds the Nigeria Liquefied Natural Gas (NLNG) plant at Bonny. Developing Bonga South-west was set to add around one billion barrels to Nigeria's oil reserves, the report stated. Shell had previously said it would develop the Bonga Southwest project in three phases, with a total potential yield of 3.2 billion barrels. Output from the field was one of the projects Nigeria was banking on to raise production to around three million bpd by 2023, NNPC officials said. Nigeria, which produces high quality light sweet crude oil, has seen its production slump to multi-decade lows, due to alleged operational, technical and sabotage issues. The country has the capacity to pump around 2.2 million bpd of crude and condensate, but in 2021 output languished near 1.55 million b/d, according to Platts estimates. Developing the Bonga Southwest would cost $10 billion, according to estimates by the

NNPC, the concessionaire of the field. The bulk of Bonga Southwest's resources are located in OML 118, but it also extends into OMLs 132 and 140, operated by US major Chevron, where it is called Aparo. Other partners in the project are France's TotalEnergies and Italy's Eni Meanwhile, Shell has joined the ranks of other big oil majors that had recently reported huge profits on higher oil and gas prices, announcing $6.4 billion in net income for the final quarter of 2021. In addition, earnings for the full year soared to $19.29 billion, up from $4.8 billion for 2020, Shell said, plus a reduction in net debt by $23 billion to $52.6 billion during the period under review. Before now, data from Shell released last month revealed that oil trading slowed down during the fourth quarter of 2021, but gas trading flourished amid the surge in demand and tight supply of the commodity in some parts of the world. Chief executive Ben van Beurden said, “2021 was a momentous year for Shell. We launched our Powering Progress strategy and simplified our share structure and organisation. “Progress made in 2021 will enable us to be bolder and move faster. We have a compelling strategy, with customers at its core. We have ambitious plans to generate shareholder value, to decarbonise our products and to provide energy to our customers while respecting nature.” Furthermore, Shell said it would buy back another $8.5 billion worth of stocks during the first half of the year and raise dividends yet again, by four per cent for the first quarter of 2022. The former Anglo-Dutch major, which last year dropped its Dutch headquarters to become a fully British-based company, benefited, like its peers, from higher oil prices. This is despite the fact that it shrunk its core operations after a Dutch court ordered it to sharply reduce its carbon footprint.

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PAGE TEN Z U L U M : W E M U ST D E F E AT I SWA P AT A L L C O ST E L S E B ’ H A R A M W I L L B E C H I L D ’S P L AY attention completely away from constituted by the Boko Haram to defeat ISWAP; otherwise, Zulum stressed, “I want to wrong. America, Britain, and terrorist sect would be nothing compared to what the group would do when they gain stability. He advised the government to seek external help in the fight against insurgency, including hiring mercenaries, saying there is nothing wrong with such. He cited the fact that advanced countries, like United States and United Kingdom, sometimes sought external help. The governor took a swipe at the current recruitment process into the armed forces and other security agencies, saying unless it is addressed, the security situation may just get worse. In a related development, the federal government, yesterday, said an analysis by the Nigerian Financial Intelligence Unit (NFIU) between 2020 and 2021 had revealed some 96 financiers of terrorism in the country, 424 associates of the financiers, and involvement of about 123 companies and 33 bureaux de change. It said the inquiry also identified 26 suspected bandits/kidnappers and seven co-conspirators. Zulum, who spoke yesterday at the State House, Abuja, during a media briefing, however, attributed the successes so far recorded against insurgency in his state to the free access he had to President Muhammadu Buhari. According to the governor, “Notwithstanding all the contributions of the federal government, we still have some challenges. One, I said it before, a growing number of ISWAP in some parts of the state is a matter of great concern to everybody. Why? They are in the shores of the Lake Chad, again in southern Borno State. Luckily enough, I was told there was military deployment yesterday (Wednesday) to southern Borno State to fight the insurgents in the Tudun Katarangwa. “But I think this is the early warning system. We shouldn't allow ISWAP to grow. ISWAP are more sophisticated, more funded and they're more educated. And we should do everything possible

what Boko Haram did will be a child’s play. “This is an early warning system. Nigerian Army has to re-strategise and defeat ISWAP. ISWAP will be a threat to the entire nation, because of the proximity of Sub-Saharan Africa. They are coming from Libya and others resettling here.” Zulum listed various successes recorded by his administration. He said before the advent of the All Progressive Congress (APC), the insurgency had triggered acute humanitarian and post-displacement crisis, with devastating social and economic consequences on the population, which further deepened fragility and poverty in the North-east region. Zulum said the outcome of the recovery and peace-building assessment by the World Bank, European Union (EU), and the United Nations (UN) revealed that the total sum of $6.9 billion was lost as a result of the insurgency in the entire North-east states, with Borno incurring over two-thirds of the losses. He said the insurgents had destroyed about 5,000 classrooms in the state, and 800 municipal buildings, comprising local government ssecretariats, prisons, and traditional rulers’ buildings, among others. He added that the terrorists also destroyed about 713 energy distribution lines and about 1,600 water sources, and produced an estimated 49,311 widows and about 49,974 orphans. While describing the above as “official figures”, he contended, “The unofficial figures are more than this”. He said before now, out of 27 local governments in Borno State, at a time, about 22 of them were under the control of Boko Haram insurgents. Zulum recalled that there was a time the state had only one access to road to Maiduguri, which was from Kano to Maiduguri. “The magnitude of the destruction was scary,” he said, adding that, today, the situation is better.

say something categorically. One of the major reasons why we have been succeeding in the North-east, in particular in Borno State, is because of one major fundamental thing: there was never a time I requested to see Mr. President and I was denied access. “And then whether we like it or not, a few days ago, I've said something about two local governments still not occupied by human population. I think that there is some misunderstanding. Some say that two local governments are under the control of Boko Haram, no. Two local governments are not occupied by human population. But whether we like it or not, it’s right because if two local governments are not occupied, what does it mean? “It means the capacity is not there to protect this human population to go to this local government areas. But we're working with the Nigerian Army to ensure immediate resettlement of people to Malam Fatori, which is the headquarters of Abadam local government. And again, Ogunbaden, headquarters of Mainari local government. “We are not saying that these two local government are under their control, but these two local governments are not under human occupation. We need support from the federal government to support the relocation of these people to these local government areas. This committee that has been constituted by the federal government will look into these matters, among others.” The governor said the second challenge was Lake Chad. He explained, “We want clearance of the shores of the Lake Chad. Again, in conclusion, while the challenge of insecurity is being solved gradually, it is not yet over. "I have said it times without number that in addition to what we are doing, there is a need for government to rethink and look into the possibility of hiring mercenaries. I have said it times without number, there's nothing

many more countries that are stronger than Nigeria, who used to seek support outside, there's nothing wrong, because this problem has been compounded. And it's not easy for us to solve the security challenges that we're having now. "While Nigeria is providing a lot of things, the federal government is buying equipment, there is the need for us to seek support from external agencies to defeat these insurgents once and for all before the matter will reach other parts of the nation. This is very important, whether we like it or not, we have existing gaps that we need to fill and this gap by now cannot be filled without external support, while we continue to build our own institutions, training and retraining. “One very serious challenge that we have, our recruitment process has to be looked into. Yes, you can just say recruitment for army, collecting notes from governors, ministers and others and the people are queuing in. As long as we are not willing to sanitise our recruitment procedures into the armed forces, police, SSS and others, we will not get the right people. This is something that needs to be done. The truth is bitter. “And then funding is critical. Yes, funding to our military. Let us investigate how much has trickled down. The commanding officers are important; procurement processes are also very important. Then stronger solidarity among the security forces and sustained campaigns are needed to finish off the remnants of the insurgents in the fringes of the North-east. It is very important. “The resettlement needs to go hand-in-hand with livelihood support and more resources are needed to do more for the people. Greater understanding is required of the security forces to support protection, action in places of resettlement, and all over Borno. “The last, but not the least, we must not allow the 2023 general election to shift our

ECOWAS TO DEPLOY STABILISATION FORCE IN COUNTRIES UNDER THREAT OF MILITARY TAKEOVER A communiqué at the end of the meeting strongly condemned the attempted coup d’état in Guinea Bissau and expressed solidarity with President Umaro Sissoco Embalo and the people of Guinea Bissau. ECOWAS decided to deploy a force with view to stabilising the country. The sub-regional body also decided to maintain the military and police components of the ECOWAS Mission in The Gambia (ECOMIG) to consolidate stability in the country. The communiqué said, “The Authority was briefed by H.E. Suzi Carla BARBOSA, Senior Minister of Foreign Affairs, International Cooperation and the Diaspora of Guinea Bissau, on the circumstances surrounding the attempted coup d’état in Guinea Bissau on 1st February 2022. “The Authority firmly condemned the attempted coup d’état in Guinea Bissau and expressed solidarity with President Umaro Sissoco Embalo and the people of Guinea Bissau. “In view of these recent developments, the Authority decides to deploy a force with a view to supporting the stabilisation of the country. “The Authority further decides to maintain the military and police components of the ECOWAS Mission in The Gambia (ECOMIG) to consolidate stability in the country. “The Authority affirms its commitment to stand firm for the protection of democracy and freedom in the region and reiterates its resolute stance to upholding the principle of

zero tolerance for ascension to power through unconstitutional means, as enshrined in the 2001 ECOWAS Supplementary Protocol on Democracy and Good governance.” The communiqué also stated that the West African leaders decided to uphold the suspension of Burkina Faso from all ECOWAS institutions until the restoration of constitutional order. It called on the military authorities in Guinea Bissau to establish the transition institutions, adopt a transition calendar, and facilitate the return to constitutional order within the shortest time possible. The West African leaders instructed the commission to ensure continuous engagement with the new authorities through the establishment of a monitoring mechanism, including African Union and United Nations, with a view to helping the transition process. On the political situation in the Republic of Mali, ECOWAS took note of the recent establishment of the National Transition Council (CNT), as the legislative body, but expressed concern over the unavailability of the required transition calendar five months after the coup d’état, as requested by the Extraordinary Session of the ECOWAS Authority of Heads of States and Government held on 16th September 2021. It stated, “The Authority welcomes the conclusions of the 1057th meeting of the Peace and Security Council (PSC) of the African Union held on 14th January 2022 endorsing all the

ECOWAS decisions and sanctions on Mali. “The Authority regrets the unavailability of a new timetable in line with the decisions of the Authority. Consequently, the Authority decides to: Uphold all the sanctions imposed on Mali in line with its decision of 9 January 2022. “Urge the Malian authorities to urgently propose an acceptable electoral timetable to ECOWAS with a view to enabling the progressive lifting of the sanctions. Remain seized of the situation in Mali. “Furthermore, ECOWAS reaffirms its readiness to work in conjunction with the African Union and the United Nations to provide the necessary technical support to the authorities in Burkina Faso, Guinea and Mali in implementing the approved timetables.” The resurgence of military coups on the continent had forced some analysts to call for the establishment of ECOWAS Monitoring Group (ECOMOG), a military force to protect democracy in the sub-region. ECOMOG was a formal arrangement for separate armies to work together. It was largely supported by personnel and resources of the Nigerian Armed Forces, with sub-battalion strength units contributed by other ECOWAS members, which included Ghana, Guinea, Sierra Leone, The Gambia, Liberia, Mali, Burkina Faso, and Niger. While the protocol on Mutual Defence Assistance was signed in Freetown, on May 29, 1981,

Anglophone ECOWAS members were said to have established ECOMOG in 1990 to intervene in the civil war in Liberia (1989 to 1996). ECOMOG had been described as the first credible attempt at a regional security initiative in Africa. Meanwhile, the vice president, Professor Yemi Osinbajo, stressed that as far as ECOWAS was concerned, there was only one way of changing government in the region, which was through democratic election. Osinbajo disclosed this after attending the ECOWAS Extraordinary Summit in Accra. The vice president, according to a statement by his media assistant, Laolu Akande, was responding to reporters' questions about how the summit of the leaders fared. Osinbajo was quoted as saying, "I think it has been fruitful, the Heads of State, again, reiterated the firm position that had been taken earlier that there is absolutely no excuse for a change of government by coup d’état. “So, what happened in Burkina Faso was considered and has been condemned by all of the heads of state and we do not think there is any excuse for it whatsoever. "But at the moment, of course, engagement is going on with the military junta and also we condemned the attempted coup in Guinea-Bissau and congratulated President Embalo and the people of Guinea-Bissau for resisting that unconstitutional attempt to change the government.

the focus and restoration of peace in North-east and, indeed, other parts of the nation.” Minister of Information and Culture, Alhaji Lai Mohammed, who also spoke in Abuja while detailing Buhari’s fight against corruption and terrorism, stated that an analysis by the NFIU had resulted in the arrest of 45 suspects, who will soon face prosecution and seizure of assets. Mohammed said, “Also, from its analysis of tax evasion and tax avoidance linked to corruption, NFIU has identified N3.90 trillion VAT and N3.7 trillion in Withholding Tax due to the government. NFIU has also sent 1,165 intelligence reports on cases of corruption, money laundering, and other serious offences to 27 domestic agencies for investigation, prosecution and asset recovery. “On terrorism financing, NFIU had intelligence exchanges on Boko Haram, ISWAP, banditry, kidnapping and others with 19 countries. During the same period, 20202021, the organisation returned fraudulently-obtained funds totalling US$103,722,102.83, 3,000 Pound Sterling; 7,695 Singapore Dollar and 1,091 Euros to 11 countries of victims, who came into the country.” To check terrorism financing in Nigeria, the minister explained that the federal government had deployed a plethora of tools, including Money Laundering Act, 2004; EFCC Act, 2004; ICPC Act, 2000; Department of State Services (DSS); and NFIU to deal with the issue of corruption, money laundering and terror-financing. He said the on-going harmonisation of Bank Verification Numbers (BVN) with National Identification Numbers (NIN) was also a means of tracking the flow of funds within Nigeria and, by extension, tackling terror financing. Mohammed said one of the three major policy planks of the Buhari administration was the fight against corruption, with the others being to tackle insecurity and also to revamp the economy. The minister said, “It is common knowledge that one of the most difficult tasks for any government is to fight corruption, because when you fight corruption, corruption will fight you back! This explains why naysayers have continued to belittle or dismiss the administration's anti-corruption efforts. “Let me say here that fighting corruption is a marathon, and never a sprint. Also, investigations, arrests, prosecutions and asset forfeiture, which are the immediate, visible indices by which many measure successes in tackling corruption, constitute as important as they are just a part of the strategies to combat corruption.” Mohammed said the federal government had

taken bold steps to streamline cumbersome bureaucratic processes in the implementation of government policies, checking corrupt practices, and ensuring accountability in the implementation, as well as delivery of the policies. The areas of reform, according to him, included the Treasury Single Account (TSA), Integrated Personnel and Payroll Information System (IPPIS), Petroleum Industry Act, Financial Autonomy for State Legislature and Judiciary (2020), Whistle-Blower Policy, Assets Recovery, Justice and Law reforms, and Nigeria's membership of the Open Government Partnership. On TSA, the minister said the system had been implemented in more than 90 per cent of the federal ministries, departments, and agencies (MDAs) and it had resulted in the consolidation of more than 17,000 bank accounts previously spread across Deposit Money Banks in the country, and monthly savings of an average of N4 billion in bank charges. On Monetary recoveries, Mohammed revealed that in 2021 alone, EFCC recovered a total of N152,088,698,751.64; 1,182,519.75 Pounds Sterling; 50 Emirati Dirham; 1,723,310 Saudi Riyal; 1,900 South African Rand; US$386,220,202.85; 156,246.76 Euros; 1,400 Canadian Dollars; 5.36957319 Bitcoin; and 0.09012 Ethereum. He explained ICPC’s pivotal role in bringing about structural changes in the operations of the government, especially, regarding improvements in MDAs budget utilisation, better value for money, improved project completion, service delivery and higher level of anti-corruption awareness. According to the minister, “Between 2019 and 2021, ICPC traced 2,000 projects worth over N300 billion. During the same period, 326 contractors of abandoned projects across the six geo-political zones were forced by the commission to return to site to complete projects worth N32.183 billion. “The ICPC's Assets Tracing, Recovery and Management (ATRM) project led to the recovery of cash totalling N34.346 billion and US$1.62 million between 2019 and 2021. Also, the commission's System Study and Review of personnel and capital votes of MDAs resulted in savings of N261 billion to the government between 2019 and 2021. ICPC has also secured 66 convictions from the 243 cases. Meanwhile, terrorists, in the early hours of yesterday, attacked Daddaran-Liman community in Jibia Local Government Area of Katsina State and killed the Village Head of Yan-Gayya, Alhaji Jafaru Rabiu, and five other villagers. A resident of the area, Abdulmalik Usman, who confirmed the incident to Continued on page 47

APC FORMALLY INFORMS INEC OF FEB. 26 CONVENTION DATE national convention on February 26. The letter dated February 2, 2022, with reference number APC/NHDQ/INEC/19/022/14, was addressed to Chairman of INEC, Professor Mahmoud Yakubu, and jointly signed by APC National Secretary John Akpanudoedehe and Chairman of the Caretaker/Extraordinary Convention Planning Committee (CECPC), Mai Mala Buni, the sitting governor of Yobe State. The letter read, "Follow up to our letter referenced APC/ NHDQ/INEC/19/021/40 dated 11 July, 2021, on the notice for the conduct of national convention. This is to inform the commission that our great party has scheduled to hold its

National Convention on Saturday, 26 February 2022. "This serves as a formal notification pursuant to the provisions of Section 85 of the Electoral Act (2010), as amended. Kindly arrange for your officials to monitor the exercise accordingly. "While hoping to receive your cooperation, please, accept the assurances of our highest esteem." There had been doubts as to whether the February 26 date was feasible, as some stakeholders had been campaigning for postponement of the convention to allow more time to resolve disagreements plaguing the party. With this formal notification to INEC, it appears all is now set for the convention to hold.

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COMMENT

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

PDP’S DEVIL AND THE DEEP BLUE SEA

Peoples Democratic Party has a difficult choice to make on zoning, writes Bolaji Adebiyi

screaming headline yesterday said the Peoples Democratic Party had thrown open its presidential ticket to all six zones of the federation. Quoting Abdullahi Ibrahim, its deputy national publicity secretary, the story said the party would give every part of the country the opportunity to bid for the top job. The headline might be justified on the basis of the fact that Ibrahim spoke at a function at the party’s national secretariat where he stood for Iyorchia Ayu, the national chairman. This, however, does not make the claim the correct position of the party. Although it must be noted that the reporter gave the official an ample opportunity to separate his opinion from the official position, the deputy national publicity persisted in misrepresenting the party. Being just a few months in office, Ibrahim must have been overexcited at the rare opportunity to represent his chairman. But clearly, he might not have familiarised himself with the conventions and the constitution of the party last amended in 2017 hence his open display of ignorance of the processes of the PDP. His assertive comments were wholly misconceived within the context of the provisions of the PDP constitution and its decision-making processes, which require an extensive discussion of issues across the entire party structures before decisions are formally agreed and announced by an appropriate officer. Such a weighty issue as zoning of the presidential ticket that is still being canvassed across all platforms of the party could not have been entrusted to such a lowly officer to communicate to the public. So, Ibrahim is at best flying a kite for a caucus of the National Working Committee that wants to supplant the zoning policy of the party. This no doubt is an audacious move that is bound to fail. As it has been argued elsewhere, given the PDP’s convention and constitution, it is too late in the day to begin to push the merit of the argument over zoning. Article 3 (c) of the party’s 2017 Constitution says, “The party shall pursue these aims and objectives by adhering to the policy of rotation and zoning of the party and public elective offices in pursuance of the principle of equity, justice and fairness.” It remains to be seen, therefore, how the presidential ticket of the party can be thrown open without an amendment to this provision. By the PDP’s procedure, such a weighty decision would begin its journey from the NWC, which takes a memo to the National Caucus and the Board of Trustees and eventually to the National Executive Committee that would make a semi-final decision on behalf of the National Convention. Until these processes are followed it would be inappropriate to say this essentially meaningless clamour for an open contest for the party’s presidential ticket is the official position. Interestingly the debate typifies the North-South divide in the country. While dominant supporters of the open contest are largely northerners, the proponents of zoning are southerners. Yet a decision

THE WIND OF NATIONAL SENTIMENT FAVOURS A SOUTHERN PRESIDENCY GIVEN THE EIGHT YEARS OF BUHARI, WHICH CLEARLY HAVE HEIGHTENED THE POLITICAL AND RELIGIOUS DIVIDE IN THE COUNTRY. IS IT A WIND THE PARTY WOULD WANT TO RIDE AGAINST?

on the matter would have to reckon with the political reality on the ground. Although the rival All Progressives Congress does not have rotation and zoning engraved in its constitution, a consensus appears to have been reached that with President Muhammadu Buhari completing two terms of eight years in office, it would be inequitable for another northerner to succeed him. Besides, a gentleman agreement that after him the ticket would go South has since been thrown up. For this reason, some heavyweight politicians in the South-east, believing that should the party allot the ticket to the South, the geopolitical zone may benefit from it have moved from the PDP to the APC. To stem the tide, an agitation for the zoning of the ticket to the South arose in the PDP whose last president was Goodluck Jonathan, a southerner. Meanwhile, the argument is being made that if the APC allocates its ticket to the South, it would be more strategic for the PDP to hand its ticket to a politically savvy northerner given the region’s hefty electoral population. This perhaps is the oxygen feeding the clamour for an open contest in the main opposition party in the belief that given the North’s numerical strength in the party it could overwhelm the South. Whatever the permutations are, the substantive issue is that the party’s constitution requires that the PDP adheres to the principles of rotation and zoning, meaning that the ticket would have to be allotted. This provision would appear to favour the North. Since the last president from the party was from the South, the corollary is that on the basis of rotation the next president would have to come from the North. This cannot happen unless the ticket goes North. However, this would sail against the wind of national sentiment which favours a southern presidency given the eight years of Buhari, which clearly have heightened the political and religious divide in the country. Is it a wind the party would want to ride against? Not likely, and this would depend on the ability of the South to throw up a strong southern candidate that would be able to match the APC candidate. On the other side is the rising profiles of Bola Tinubu, a former senator and two-term governor of Lagos State, who is also a dominant force in APC; and Yemi Osinbajo, learned silk, professor of Law and vice president of the Federal Republic, who has taken the full advantage of his office to issue mobilising political statements that project him as an aspirant to watch. Does the PDP have such towering political figures in the South to match these two? Not really. But its political structure is no doubt awesomely well organised and spans the entire country much more than the ruling APC. If such machinery is put solidly behind a no-baggage candidate that has demonstrated competence in public office, the result may be intriguing and interesting to await. Adebiyi, the managing editor of THISDAY Newspapers, writes from bolaji.adebiyi@thisdaylive.com

BALA MOHAMMED AND POLITICS OF CRITICISM Danliti Goga writes that the Bauchi State governor’s assessment of the social investment programme is jaundiced

was putting finishing touches to a criticism of the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development following Governor Bala Mohammed of Bauchi State’s disturbing allegation that the National Social Investment Programme (NSIP) is not working in Bauchi State because funds for the programme are being diverted to private pockets , when the rejoinder from the ministry caught my attention. The rejoinder was so comprehensive in details of various NSIP projects implemented in Bauchi State that I just had to review my write up and ascertain the status of the programme in the state. Governor Bala Mohammed made the allegations while flagging off the distribution of empowerment materials to selected beneficiaries under the Kaura Economic Empowerment Programme, which is the state government’s version of the NSIP. He said, “The APC economic empowerment is so huge but it is not reaching anywhere and I want it to be conveyed to the Presidency. The Social Investment Programme is not working. They don’t have anything like this (Kaura Economic Empowerment Programme) to show, whereas, a trillion naira is budgeted for that.” For a state governor to make such a weighty allegation implies that it is authoritative and factual but when the ministry released its own statement as the implementation agency, it rendered the governor’s version questionable due to lack of necessary details when compared to the ministry’s rejoinder. As a concerned citizen, the urge to ascertain the situation was irresistible if only to be better informed before taking a stand. The ministry’s rejoinder issued by the National Coordinator of the National Social Investment Programmes (NSIP), Umar Bindir maintained that N1 trillion budgeted for the NSIP was not siphoned and described the allegations as “unsubstantiated, manifestly false, and have absolutely no bearing to the realities on ground.” Significantly, it said in Bauchi State, there are 75,110 poor and vulnerable

households in the National Social Registry, made up of 401,395 individuals, from which a total of 99,957 from all the 20 LGAs are in the National Beneficiary Register (NBR) currently receiving monthly payments up to date. It also pointed out that the NSIP is jointly implemented by state government appointed officials and indigenes, including the head of the State NSIP implementation team or focal person directly appointed by the governor. All beneficiaries and participants are indigenes of the state and payments to participants and beneficiaries go directly into their individual accounts. It also gave verifiable statistics on the National Home-Grown School Feeding Programme (NHGSFP), N-Power beneficiaries, Government Enterprise and Empowerment Programme (GEEP), Conditional Cash Transfer (CCT), Grant for Rural Women, Engagement of community-based Independent Monitors (IMs), Science Technology Engineering and Mathematics (STEM) and the Alternate School Programme (ASP) “as ample and credible evidence that the NSIP is fully operational and functional across Nigeria, including Bauchi State”. For the other side of the story pertaining to the antecedents that may have informed the governor’s “unsubstantiated” criticism I concluded that my best option was to follow the press coverage of the NSIP in Bauchi State. It was however lamentable that, contrary to my expectations, there was nothing in the press coverage to warrant such sweeping denunciation of the NSIP in Bauchi State. In fact it was interesting to come across a September 20, 2019 news report by Daily Nigerian saying “The Executive Governor of Bauchi State, Bala Mohammed, Wednesday, defied partisan politics to laud the Social Investment Programmes of the President Muhammadu Buhari’s administration!” It quoted the governor from an interview on Channels Television acknowledging that NSIP programmes met the needs of ordinary Nigerians thus “The social investment programme is working

and I am very happy with it because the N-Power is working. That is the only solace to the graduates where they find some form of employment. ” He even hinted on taking a cue from the NSIP to introduce a similar scheme in Bauchi State which, ironically, he launched last week with a diatribe against it. Another report from November 15, 2020 was on Minister of Humanitarian Affairs Sadiya Faruk supporting 200 poor women in Bauchi State with the sum of N20, 000 each as part of federal government’s conditional cash transfer program where citizens receive the token sum of N5, 000 each monthly, affirming that a total of 54, 738 vulnerable households in Bauchi State would benefit. The clincher was that the minister presented the money to the beneficiaries at the office of the wife of the Bauchi State governor Aisha Bala Mohammed who received the minister and even lauded the federal government for the gesture, assuring that the state government would complement it through women empowerment programs. When you consider the many reported previous instances of cordial official meetings between Governor Bala Mohammed and the Humanitarian Affairs Minister in Bauchi and Abuja where mutual satisfaction and shared commitment to the progressive implementation of the NSIP and other poverty and youth and rural women empowerment programmes of the Buhari Administration defined the discussions, it is truly perplexing to diagnose the governor’s grouse. After all he was aware of measures taken to ensure accountability and optimum implementation of the NSIP because the Minister of Humanitarian Affairs and Social Development made the announcement of the posting of 300 independent cash monitors for the National Social Investment Programme ( NSIP ) in Bauchi State after a meeting with him in Government Ho use. However, the search of news reports gave some clues such as when the Daily Nigerian report on Governor Bala Mohammed’s candid commendation

of NSIP on Channels Television quipped that he had “defied partisan politics” in so doing. That Bala Mohammed is an incurable politician is a fact given his tendency to leap into political puddles, often without looking. He had no qualms basing his abrupt decision to dissolve his cabinet on his preference for politicians rather than civil servants and technocrats. The governor said: ”I dissolved my cabinet because some of them do not know much about politics, so I had to bring in the real politicians who can do the job and join hands with me to move the state forward Nevertheless, I must commend them, because they performed very well .” By his own admission, Governor Mohammed places politics above performance even in constituting his cabinet, so we must also situate his unsubstantiated denunciation of the NSIP within this context. In the world beyond the governor’s whims and caprices however, a more credible, objective and honourable assessment of the NSIP and indeed the entire challenging national assignment incorporated in the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development and deservingly assigned to Hajiya Saadiya Umar Farouq has been meticulously carried out. In a bold and befitting appreciation of her humble but herculean capacity for hard work for humanity, the minister has just received a diplomatic award for transparency and accountability by the International Human Right Commission (IHRC). The Country Head of IHRC Dr Friday Sani said the minister was found worthy for her hard work and diligence towards making impact on the lives of Nigerians, especially, the youths through the National Social Investment Programmes after a two-year investigation with the help of world class security organization partner known as the International Police Corporation which cleared her of several complaints over financial irregularities, diversion of funds meant for the poor people of Nigeria. Goga wrote from Kano

T H I S D AY • FRIDAY, FEBRUARY 4, 2022

EDITORIAL ABATTOIRS AND PUBLIC HEALTH The authorities should ensure public health safety by paying more attention to abattoirs

pparently to curtail the upsurge in communicable and some neglected tropical diseases, the Minister of State for the Federal Capital Territory, Dr. Ramatu Aliyu recently directed an immediate clean-up of the abattoirs in the FCT for improved sanitary conditions. Abattoirs operated in unhygienic environment generate waste and organisms that pose serious threat to human health. Sadly, many such facilities across the country do not measure up to the required hygienic standards. Indeed, ﬁndings from different studies keep pointing to one fact: the increasing health hazards in consuming the beef prepared in many parts of the country. This is because most abattoirs are in unacceptable conditions: dirty, THE HEALTH OF EVERY unkempt, and CITIZEN SHOULD CONCERN operate with little EVERY RESPONSIBLE AND regard to health RESPONSIVE GOVERNMENT, considerations. ESPECIALLY WHEN IT COMES Animal waste such as blood, TO WHAT THEY DAILY bones and tisCONSUME sues are often scattered around the surroundings. There is often poor sewage and waste disposal systems. A few states like Lagos have made some efforts towards ensuring a healthy and hygienic abattoir condition by upgrading some of their abattoirs over the years. Indeed, last year the Governor of Lagos State, Mr Babajide SanwoOlu, inaugurated a semi-mechanised abattoir in the Somolu/Bariga areas in line with the state’s efforts to curb illegal and unhygienic meat butchering. But in several other states the slaughterhouses stink. In many of these states, some butchers are still killing cows and preparing carcasses of their meat on the wet, dirty, muddy ﬂoors. The vicinity is often littered with heaps of smelling waste materials. In fact, in most cases, it is almost as if the abattoir is

Letters to the Editor

synonymous with waste. This phenomenon, as we have noted on this page, poses a clear and present danger to the health of Nigerian.

T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

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

MKPURU MMIRI: A THREAT TO HUMANITY

magine someone killing another person just to have access to his money in order to buy Mkpuru Mmiri. What happened to the norms and values we received from our forefathers? Why are we so confused as to the way forward? The progress of any society depends on her current plans for the future. According to the United Nations population projection for 2020, about 62 percent of Nigerian population comprises of people below 25 years of age. The society depends on the youths for a better tomorrow. Humanity awaits the manifestation of her sons and daughters. The question is this, can we say that the youths are ready, with the issues of drug abuse everywhere? Nigerians need to look deeply into the issue of abuse of this substance called mkpuru mmiri. Yes, there are other substances of abuse but the issue of mkpuru mmiri needs immediate attention because it is the trending substance of abuse in Nigeria now and its effect is so devastating. If this issue is not given proper attention now, it will spread across all the 36 states of Nigeria and the effect will be phenomenal.

n several occasions, we have had course to express serious concerns over the manner of producing, handling and transporting beef from abattoirs to the different points of sale because they are inimical to the health of the ﬁnal consumers. We therefore reinstate our position that the manner in which animal carcasses are handled during slaughter, loading and transportation from the abattoirs to various points of sale must change. Indeed, almost as a matter of routine, majority of the butchers convey their meat on bicycles, motorbikes, motorised tricycles and sometimes on some rickety meat vans, under very unhygienic conditions. The beef is simply packed and transported without regard to safety measures. It may not be obvious but there may be serious health consequences for the consumers of such exposed beef. And there appears to be no credible step by the authorities to arrest the problem. This may also explain why members of the Nigerian business and political elite, as studies have shown, prefer imported, frozen poultry products, even when no one can guarantee the safety of these imported products. Against the background that statistics indicate that Nigerians consume over 300 million kilogrammes of beef a year, the authorities should be serious about hygiene by establishing modern abattoirs to protect the environment as well as the well-being of the people. The general public as well as the critical stakeholders in the business should be adequately enlightened on how to handle beef. This should be the responsibility of the health and environment authorities at both the federal and state levels. In addition, there should be strict enforcement of sanitation practices. The health of every citizen should concern every responsible and responsive government, especially when it comes to what they daily consume.

Mkpuru mmiri are Igbo words. It is called crystal meth/Ice in some parts of Lagos State. It comes in clear crystal chunks or shiny bluewhite rocks. Mkpuru mmiri is a very addictive stimulant drug. It is a powder that can be made into a pill or a shiny rock (called a crystal). The powder can be eaten or snorted up the nose. It can also be mixed with liquid and injected into your body with a needle. Crystal meth is smoked in a small glass pipe. Meth at first causes a rush of good feelings, but then users feel edgy, overly excited, angry, or afraid. Meth use can quickly lead to addiction. The National Drug Law Enforcement Agency (NDLEA) said it is committed to clamping down on the production and consumption of methamphetamine, popularly known as ‘mkpuru mmiri’, noting that the consequences on mental health are dangerous to society. Nigerians should join hands with NDLEA in tackling the use of Mkpuru Mmiri by reporting such activities to the agency while parents too have a role to play in advising their wards. Indeed, mkpuru mmri is a great threat to our security. Let’s fight it together. Sini Joseph, Jimeta, Yola, Adamawa State

A LETTER TO BEN MURRAY-BRUCE

hate to write tributes. I am terrible at dealing with the grief of losing people. I have sought ways to grieve through a numbing of emotions but I breakdown in the middle, so writing a tribute for Ben Murray Bruce’s mother is harder because I don’t even know him or have I met her. But I encountered a piece recently in the papers when she celebrated her birthday and she talked a lot about the historical antecedents of Nigeria and her love for her family and that struck me like thunder because I am a deeply family-oriented person. Apart from doing my journalism, my best job in life will be about becoming a lovely husband to my future wife and being the best father to my children and helping people which I believe is more important. When I read her interview on family values I was struck by the love and attention she paid to her family. It is obvious where Ben Murray learnt how to love his mother from his mother. I watched from afar how he loved dearly his mother and he showered her with love and attention and I could bet I know what the feeling is

like. I lost my own mother when I was just seven years old and trust me I haven’t still recovered. You don’t really heal from losing the ones you love, you just live your life trying to heal. I believe that’s the burden deep love places on all of us. In her article for her birthday I saw her deep love for Nigeria when she juxtaposed the old days and the new days and the hope for things to be better in Nigeria. I was once told that she was a great fan of my work on Arise TV and I had wished someday to meet her. But the sad reality is that, it is just a wish now, since she is gone. This is another reminder to visit people more and I will really make a mental note to do that soon. I can imagine it’s been a tough time for Senator Murray Bruce and the Bruce clan but I want Senator Bruce and his brothers to be consoled by the fact that he loved his mother so dearly and his love for her was an example for people like me and letting go despite how hard it feels. It’s a burden of love we must all carry. We thank God for the life of his mother and pray it is well. Rufai Oseni, rufaioseni@gmail.com

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T H I S D AY ˾ FRIDAY FEBRUARY 4, 2022

POLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

How Jonathan’s Candidacy Will Strengthen North-South Alliance Shehu Umar argues that the return of former President Goodluck Jonathan to political reckoning may be the magic wand Nigeria needs to restore peace

t is safe to say that keeping Nigeria united under stable democracy requires building dependable block alliance across the Niger. This also reminds me of the popular statement made by the Plateau State-born statesman and Nigeria’s war time Head of State, General Yakubu Gowon who said that, “To keep Nigeria one is a task that must be done.” The 30-month Nigerian civil war which ended on January 15, 1970 with the popular aphorism, “No victor no vanquished,” gave birth to modern Nigeria unity, and peaceful co-existence amongst the heterogeneous groups and ethnic nationalities that make up the sovereign state called Nigeria. This quest for a united Nigeria and healthy political system and unbiased interest inform part of the criterion that king makers across ethnic divides and political parties in Nigeria consider before choosing a candidate that will fly the flag of their party in a general election. This unwritten norm has continued to play a prominent role in deciding who the democratically elected President of Nigeria is. In 1999, when the country returned to civil rule after over three decade of military junta, the leadership of the Peoples Democratic Party (PDP), decided to elect Chief Olusegun Obasanjo, a Yoruba man to compensate for the death of Chief MKO Abiola who died in detention after the annulment of 1993 election, which he was the acclaimed winner. This singular decision by a major political party led to the gradual healing of the wounds thrown up by the annulment of 1993 elections and eventual demise of the winner of the election, which of course was annulled by the then military junta of retired General Ibrahim Badamosi Babangida, also known as IBB. Before the end of President Obasanjo’s two terms which 2007, the militant Lagos press dominated by Yorubas and the civil rights activists, as well as political actors, sheathed their sword. Unfortunately, President Musa Yar’Adua’s presidency which succeeded Chief Obasanjo’s administration was truncated by the untimely death of the President in office. His emergence as the PDP candidate and eventual win at the 2007 presidential election was in line with power sharing arrangement or understanding between North and South as is the practice in a plural society like Nigeria. Following a doctrine of necessity invoked by the National Assembly to rescue Nigeria from impending constitutional crisis thrown up by a lacuna in the nation’s legal framework, the then Vice President Goodluck Jonathan had to complete the remaining tenure of his principal under the invocation of the doctrine of necessity by the then David Mark-led Senate. He also contested the 2010 election and won. His presidency was, however, cut short by President Muhammadu Buhari’s overwhelming victory in the 2015 presidential election. Though that was the first time the opposition party was winning a presidential election after the return of Nigeria to democratic rule in 1999, former President Jonathan congratulated the winner and peacefully exited office on May 29, 2015. Since then, he has kept a low profile except for his role in ensuring that the Malian military junta returned the country back to civil rule. As the ECOWAS Special Envoy and Mediator for Mali, he has, however, remained visible in the media within the sub-region as a proven and dedicated pan-African. Former President Goodluck Ebele Jona-

than is not only an apostle of one Nigerian and solid bridge between the North and South but a man of peace that Nigeria needs now to rescue the country from imminent collapse. It is on the premise of these towering attributes of peace and bridge building that

Nigerians of all shades of opinion, political persuasion, religious and ethnic affinity as well as cultural background are clamouring for his return as President Muhammadu Buhari approaches the end of his constitutionally guaranteed two terms. Some Nigerians strongly believe that

As Albert Guns for Akwa Ibom Government House Amos Etuk writes on his conviction that Senator Bassey Albert stands a good chance of winning the governorship election in Akwa Ibom State in 2023 “Rise and anoint him; he is the one. So Samuel took the horn of oil and anointed him in the presence of his brothers, and from that day on the spirit of the Lord came upon David in power” 1 Samuel 16.

he above biblical quote is an abridged reenactment of the story of David who was reportedly loved by God. It remains an illustrious template for leadership divinely promoted and cherished.ny of David, King David was a leader after God’s heart and his lifting from grass to grace in his succession of Saul as King explicitly shows that the crown of leadership is divine, and its investiture ordained at God’s appointed time, the circumstances notwithstanding . No matter the manipulations of man, God will always make His choice and anoint His own. In like manner, the question of who emerges as successor to Governor Udom Emmanuel lies with God. But the morning they say tells the day, and we can discern the direction of God’s choice well in advance by the preparation which a man is divinely taken through before being chosen by God. At the risk of sounding too forward to the short-sighted, Obong Bassey Albert Akpan, aka OBA, the Senator representing Akwa Ibom North East, is clearly God’s gubernatorial choice for Akwa Ibom State come 2023 given his antecedents. What with his status as the “Coordinating Commissioner” in the immediate past government in the state, during which he was the de facto “engine room” of the administration in his capacity as the Commissioner of Finance. What with the extraordinary mileage he achieved in his bid to be the Governor in 2015, Before yielding place to mainstream party decision in the matter as a loyal party man. What with his signal performance in the National Assembly where he is doing excellently well as the Leader of the Akwa Ibom caucus. With the array of heavyweights vying for

the exalted Office of the Governor in the next few months, the hand of God clearly rests on the shoulder of Senator Bassey Albert Akpan. Even before being drafted into politics through his appointment as Honourable Commissioner of Finance, he had made a mark in the private sector as a banker and rose to the pinnacle of his career in that sector. He endeared himself to the people through countless empowerment and life touching programmes, such that OBA became a dominant household name in the state. The legacies of his stewardship remains evergreen from his exemplary service in the banking sector to becoming the longest serving Commissioner for Finance in Akwa Ibom State whose leadership steered the success story of the Uncommon Transformation years. -Etuk is the Chairman of the Nigeria Union of Journalists, Akwa Ibom State Council NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Nigeria as a country does not need a new comer who would learn on the job but an experienced person who would hit the ground running so as to reunite the country, revitalize the economy, create jobs for the teeming unemployed youths and bring an end to the rampaging terrorists, bandits and secessionist agitators. Nigeria needs a man whose hands of fellowship would be accepted across the Niger. There are, however, toxic opinions amongst former President Jonathan’s political detractors that the only interest of the northern strategist is hinged on the fact that he can only do one term, in which case the hope of power returning to the North is guaranteed in a shortest possible time. However, this lame argument is easily drowned by his popularity with a track record of integrity and statesmanship, which is a glaring reality that Nigerians from every divide, North or South, Christian or Muslim, Kanuri, Ijaw, Yoruba, Igbo, Fulani or Tiv long for. Former President Jonathan is a person with wide public acceptance cutting across religious, ethnic and regional divides. It is obvious that, from the current political firmament in the country, Jonathan fits this mold from the South. In an article titled, “The Post-Presidential Legacy of Nigeria’s Goodluck Jonathan,” Which was published on the blog of Council on Foreign Relations, it was also posited that “Since his concession, the former President is experiencing something of a renaissance as a senior statesman, at least, in certain circles. “He has been honored with international awards and invited to deliver keynote remarks at global conferences on everything from peace-building to improving educational opportunities. He is particularly sought-after as a champion of democracy, and recently led international election observation teams for the National Democratic Institute in Liberia and the Electoral Institute for Sustainable Democracy in South Africa,” the article read in part. His solemn tweets on respect for the rule of law in Ethiopia were also given wide publicity. He was known to have favoured the North when he was at the helm of affairs in Nigeria between 2011 and 2015 when he handed over to the incumbent President Muhammadu Buhari. In his appointments up to personal aides, former President Jonathan was known to have somehow favoured the North more. The construction of Almajiri schools across the North is also something that has endeared him to many northern elites that see him as a better version of Northern visionaries. On infrastructure development, former President Goodluck Jonathan would be remembered by the northerners for such infrastructural developments like the Dry Season Fadama Farming. He was reported to have approved the release of a whooping sum of N26 billion for the 2015 dry season farming. The scheme launched in 2012 provided thousands of jobs to teaming unemployed Nigerians, especially in the north where the dry season farming is mostly practiced. According to the former President, ‘’not only is food produced, we are now processing food. Food production is rising rapidly and thousands of jobs are being created for our young people.’ -Umar is a public affairs commentator and writes from Kano NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ FRIDAY FEBRUARY 4, 2022

PERSPECTIVE

EPISTLES of ANTHONY KILA

West Africa’s Pandemic of The Road from Ideas to Practice Anthony Kila draws attention to salient issues Military Coups that demand the attention of the Chief Executive

Chido Nwangwu laments the recurring dislocation of Oﬃcer of the Corporate Aﬀairs Commission democratically elected governments in a couple of ear Alhaji Garba Abubakar, West African countries by ambitious soldiers This epistle is directed at

etween January 23-24, 2022, there was a military coup in Burkina Faso which ousted elected President Roch Kabore, and suspended the constitu-

tion. In the evening of January 27, 2022, I was invited to do live interview and analyses of the unfolding, fast-paced events in late Thomas Sankara’s home land of Burkina Faso, on one of the most influential news networks in the world, Al-Jazeera. The news anchor was Nick Clark. Since 2020 to the closing days of January 2022, groups of ambitious soldiers have toppled the governments in the terrorists and jihadists’ haven Mali, war-torn Chad, the former pride of Francophone west Africa Guinea, terribly unstable Sudan, the disfigured land of the noble called Burkina Faso. There was a different outcome only a few days ago, the first day of February 2022, when soldiers failed in their violent attack to take over the government of the impoverished Guinea-Bissau. This rash of military coups in West Africa and across parts of the Sahel region of Africa, understandably, raised the concern of the “democratically installed” leaders of the continent and its hypocritical democratic friends around the world. Especially, among those who colonized and exploited the resources of those countries which placed these poor African countries on the ill-fated paths of conflicts and ethnic and religious clannish postcolonial politics. I think it’s better that I classified those medieval, jihadists’ conflicts as sectarian warfare! Since the 1960s, it’s the same templates message of justification for hijacking power; it’s the usual manifesto of some soldiers claiming to be on the task of “national redemption.” It’s the same lingo that they want to be in power to right the wrongs of the idle civilians! Those behemoths of corruption and waste elected to self as they wish! The soldiers broadcast on their country’s national and international media their checklist of indictment of the sacked government with truckloads of charges — ranging from undermining national sovereignty and national integrity to crimes of incompetence, squandering the riches of the poor country! In some cases, their accusations are accurate. It is one thing to describe a problem and another to implement its solution! Sadly, the experience we have had across the African continent is that, at

least, 95% of those military dictatorships created more complications, truncated due process and the rights to fair judicial hearing for those pro-democracy activists who spoke against their hijack of power. The soldiers left trails of corruption, impunity, decadence, ethnic politics, nepotism and breakdown of moral standards and values of the society — which in sociology is generally described as a state of anomie. Let’s go back to the failed Coup in Guinea-Bissau which the embattled 49-year old President Umaro Sissoco Embalo alleged was sponsored by “drug trafficking and corruption” interests, as quoted in USAfricaonline.com. Guinea-Bissau, relatively small West African country is a former colony of Portugal, which gained political independence in 1974. The country has gone through four coups. Embalo, a bold and controversial figure, is well aware that it is known in major security and law enforcement agencies that his relatively poor country has become a transit point for some drug dealers and traffickers. On balance, I think the certain paradox of military rule and consequentialism of authoritarianism is the fact that they become the problem they claimed they came to fix, as self-proclaimed guardians of “national salvation.” Rather than discuss and debate competitive options for development, some soldiers unleash(ed) brutality and brigandage, societal dislocations and more corruption. -Nwangwu is the Publisher of the first Africa owned, US-based online newspaper, USAfricaonline.com

Sadly, the experience we have had across the African continent is that, at least, 95% of those military dictatorships created more complications, truncated due process and the rights to fair judicial hearing for those prodemocracy activists who spoke against their hijack of power. The soldiers left trails of corruption, impunity, decadence, ethnic politics, nepotism and breakdown of moral standards and values of the society — which in sociology is generally described as a state of anomie

you by virtue of your role as the Registrar and CEO of the Nigerian Corporate Affairs Commission (CAC). As CEO, it is your duty to make sure your organization implements the vison and ideas that you, together with members of your board and other stakeholders feel meet the needs of those that you service. The entities you service include government on one side, individuals and corporate entities on the other. Yours is a unique organization in the sense that it is one of those few government-managed monopolies wherein a large chunk of what you manage finds the interests of the regulator and that of the regulated coincide perfectly or at least mostly. The government on behalf of whom you act wants business to be registered and be counted as growing in number. The businesses you register come to you to be registered and most of them have to be seen as registered. Your task amongst others is to make this happen. The more businesses you register the better for all. To address the issue of Ease of Doing Business (EDB) in Nigeria, this government developed some set of ideas part of which was to simplify the process of business registration. Along this road, in October 2020 the government announced the approval for the free business registration initiatives for Medium, Small and Micro businesses (MSME) as part of the post COVID survival intervention. The cost for that intervention, it appeared from media reports, was to be borne partly by the government and partly by your CAC. I wondered then why the government was going Dutch with you rather than just write off the expenses. Still on the road to making things better, your commission has embarked on a very significant digitalization of your process. Part of the intention of this effort is to allow members of the public to be able to deal with your commission via your website and portal. The COVID experience catalyzed this process for you so that walking into your offices to speak to and interact with your team has become an exercise reserved for just a very few selected individuals. Such is the case, at least in Lagos and Abuja, where we studied your operations. It must be said that technically and theoretically, potential entrepreneurs can do all they want via your website and portal. They can get information, submit applications and enquires, pay required fees, upload required documents and even get their digital certificates online without visiting your offices. This undoubtedly is a very good step in the right direction; for a Nigerian governmental agency managing monopolized services, it is even to be considered a quantum leap. The process, like all digitalized process, is designed to make operations swifter, more transparent, more predictable and less prone to man-made distortions such as favouritism, whims and even extortions and other forms of corruption. This is however only technically and theoretically, in practice your system is still slow, ambiguous and often pedantic. Dear Registrar, there is no other way to put it: Your system is in practice still far from its potential and very far from the ideal and cannot even to be considered a case study for best practice by your counterparts across the globe. Given what you have put in place and all you have done or tried to do, the next road to take is to find a way to move from idea to practice.

From an outsider’s perspective, the main issue you are facing and what is keeping you from becoming a world class agency is the human factor. Too many of those charged with implementing the ideas of the commission and operating its system do not seem to be at par with the grand ideas guiding the commission. The buck stops at your desk anyway, good or bad, everything that happens at the commission should and will be linked to your ability to be a CEO. Dear Registrar, you are getting the missive as invitation to find the road from ideas to practice. The first step on such road is to reframe the understanding of those that you deal with. You need to realize and educate your team, all of them, that those that come to use your services do not really see your commission as adding value to their ventures and vision. These are entrepreneurs that come to you not because they want to but because they have to. They are fee paying users who have at least 10 different things they could do with the time and money they are constrained to dedicate to your commission. Everyone in your team needs to know that those they deal with are creators of job and wealth, two things that the country desperately need. You need to find a way to let your team know that their role is to enable, accelerate and even guide users towards a rapid and stress-free engagement with your agency. A reset in mindset of those implementing the ideas of the commission will easily show that a lot can be done to improve communication of the CAC. Emails and updates need to be treated at least five times faster than time they take now. Telephone lines need to work. Someone has to audit your telephone lines and numbers with a bid to discard the ones not functioning and add more if need be. Those that respond to phone calls need to be empowered to solve issues, a dashboard that gives information is all that is needed. Lexicons like “queried” should be modified. Which of your staff would like to receive a query? The points raised here are so far are simple steps based on education and persuasion but not all evil comes out of ignorance. Some people are mischievous and deliberately make the system complex so that users can beg and bribe. It is your duty dear CEO to set standards and targets. As registrar, you have to find ways to monitor your people and operations to make sure that those working to thwart the commendable ideas of the commission are sanctioned and those working for success rewarded. On the road that leads from ideas to practice there are many stones, it is the duty of the traveler to know which to skip or break and which ones to treasure. -Prof Anthony Kila is Centre Director at CIAPS Lagos

FRIDAY FEBRUARY 4, 2022 •T H I S D AY

FRIDAY FEBRUARY 4, 2022 • T H I S D AY

FRIDAY FEBRUARY 4, 2022 •T H I S D AY

T H I S D AY ˾ FRIDAY, FEBRUARY 4, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

F E B R U A R Y

S & P INDEX

4 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

INDEX LEVEL

564.02%

1/4 TO DATE

5.82%

N413.03/ 1 US DOLLAR*

OVERNIGHT

10.75%

1-MONTH

1-DAY

–0.17%

YEAR TO DATE

– 15.85%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.19%

PMI Report: Nigeria Economy Records Expansion in January 2022

Dike Onwuamaeze The Nigeria’s private sector recorded a solid expansion in the first month of 2022, which was buoyed by a supportive demand environment and efforts to boost output by firms. This was revealed in the StanbicIBTC’s Purchasing Manager Index (PMI) for January 2022, which recorded 53.7 points to indicate an improvement of business condition for the month under review. The Head of Equity Research

West Africa, StanbicIBTC Bank, Mr. Muyiwa Oni, explained that readings above 50.0 signal an improvement in business conditions on the previous month while readings below 50.0 show a deterioration. The PMI report stated that there was a broad-based expansion across the sectors of the Nigerian economy with agriculture leading growth. It added that despite news of the Omicron variant, businesses in Nigeria maintained a positive view towards outlook in the next

12 months. It noted that the degree of optimism record in the previous month was the strongest since February 2021 as firms that were interviewed in the January survey hinted at plans to expand operations and acquire greater investment. Moreover, the report also indicated a growth in export of Nigerian made goods and service as the amount of new business orders “from abroad placed at Nigerian private sector firms rose at a quicker pace

in January, thereby surpassing the survey’s previous peak in December.” The PMI report said: “The opening month of 2022 revealed a solid expansion in Nigeria’s private sector. Output continued to rise at a robust pace thanks to larger workforces as well as supportive domestic and international demand conditions. “At 53.7 in January, down from 56.4 in December, the latest expansion pointed to a softer, yet solid, improvement in business conditions. Expansions have now

been seen in each of the last 19 months, with the latest uptick the softest since September. “With new order growth easing in January, firms raised their output levels at a softer pace. The rate of growth was still robust, however, and above the long-run series average. Sub-sector data revealed expansions across the board, although agriculture recorded by far the strongest increase. Manufacturing, wholesale & retail and services followed, respectively.” It, however, noted that, “cash

shortages weighed on new orders, which rose at the softest rate for a year-and-a-half. Nevertheless, firms remained committed to raising output and stockpiled inputs accordingly, while sentiment improved to an 11-month high.” The report stated that input cost pressures remained sharp in January, but purchase price inflation eased notably from December’s previous peak. It identified rising wage, prices Continued on page 27

Security Fears at Airports Impact on Aircraft Insurance Premium, Cost of Leasing Chinedu Eze Fears that aircraft parked at Nigerian airports could easily be accessed by unwanted persons through security breaches has impacted on cost of insurance and cost of aircraft leasing in the country, THISDAY investigation has revealed. Informed source told THISDAY that reported cases of insecurity at

the airports has increased the level of Nigeria’s country risk, which also influence insurance premium and cost of aircraft leasing. Nigeria’s insurance premium on aircraft is recognised as the highest in West Africa and every aircraft parked at the ramp of any airport is guarded by security operatives at the expense of the airlines and this is added to the cost of operation

and also cost of leasing, especially wet leased aircraft. Speaking on the development, mmediate past CEO of Aero Contractors and former Managing Director of the Nigeria Airspace Management Agency (NAMA), Captain Ado Sanusi, told THISDAY that insurance premium and cost of leasing are determined by country risk; the higher the country risk,

the highest of the premium and cost of leasing. He said that country risk is the aggregation of many factors, which include credit rating of the country, strength of the financial institutions, the strength of the aviation industry regulatory agency, which is the Nigerian Civil Aviation Authority (NCAA), past history of repatriation of aircraft and the ability of foreign

commercial airlines to repatriate their revenue earned from ticket sales. Nigeria has not been able to allow some international carriers repatriate their ticket earnings, which was about $208 million last October, according to the International Air Transport Association (IATA); although airlines have expressed confidence in repatriating all their funds, as they described Nigeria as

a strong market. Also some Nigerian airlines had in the past refused to allow lessors take back their aircraft when there were payment breaches or breaches in the terms of agreement, but in the past three years, NCAA had waded in and stands guarantee that lessors must recover their aircraft Continued on page 29

M A R K E T D ATA A S AT T H U R S D AY, F E B R U A R Y 4 , 2 0 2 2 FGN BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027

Price

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OTC FX F U T U R E S

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7.40

7.43

0.00

9.84

10.12 0.03

17.02

18.06 0.02

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10.00 0.02

NGUS MAR 30 2022 424.04

NGUS APR 27 2022 425.46

0.00

NGUS MAY 25 2022 426.89

0.00

NGUS JUN 29 2022 428.32

7.39

-0.03

NTB 10-Feb-22

4.00

4.01

0.00

109.84

9.04

-0.01

NTB 10-Mar-22

2.98

2.99

0.00

107.93

10.51 0.00

NTB 28-Apr-22

4.50

4.56

0.00

103.22

11.47 0.00

NTB 12-May-22 4.00

4.05

12.11 0.00

NTB 9-Jun-22

3.72

115.63

Contract

C Ps MREP CP XXXVI 11-FEB-22 UNCP CP VI 2-MAY-22 NEVE CP I 24MAY-22 DANC CP II 25MAY-22

106.34

3.67

CONTRACT TENOR (MONTH) 1

NGUS FEB 23 2022 422.61

FRIDAY, FEBRUARY 4, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

WELCOME TO ONNE…

L-R: Managing Director, WACT, Naved Zafar; Comptroller-General, Nigeria Customs Service (NCS), Col. Hameed Ali (rtd) and the Port Manager, Onne Port Complex, Yitnoe Magaji at the commissioning of the new scanning machine acquired by the NCS at Onne Port, Rivers State, recently

Customs Agents: E-invoicing Contravenes Customs Excise Act, Will Hinder Trade Facilitation Stories by Eromosele Abiodun Licensed customs agents in the country have alleged that the Central Bank of Nigeria (CBN) guidelines on electronic invoicing (e-invoicing) and evaluator for exporters and importers contravened the law of Customs and Excise Management (Amendment) Act (CEMA) 20 of 2003 on valuation of goods and Customs and Excise Management Act C 45 of 2004 for the procedure of import regulation and export. The agents in their petition to President Muhammadu Buhari said the valuation of goods in Nigerian is prescribed under the Customs and Excise Management (admendment) Act 20 0f 2003, which gave the power of treatment, process, procedures and determination of valuation of goods under the Act, based on Transaction value method, with six sequential application. The National President of the National Council of Managing Director of Licensed Customs Agents (NCMDLCA), the umbrella body of customs agents in the country, Mr Lucky Amiwero said the power to give guidelines on import and export is domiciled with the Minister of Finance as prescribed in Section 36 and 57 of the Customs and Excise Management ACT C 45 of 2004. The CBN had last month released guidelines for the newly introduced electronic invoicing (e-invoicing) and evaluator for exporters and importers. The Apex bank said the process would take immediate effect from February 1, 2022.

Group Business Editor Eromosele Abiodun Comms/e-Business Editor Emma Okonji Aviation Editor Chinedu Eze Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafo (Energy) Emmanuel Addeh (Energy) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

According to a circular signed by the Director, Trade and Exchange Department, Dr. O. S. Nnaji, the new regulation was aimed at determining the accurate value for goods leaving the country or otherwise. Amiwero emphasised that there is no such thing as benchmark or global pricing verification in the world. “The application of benchmark to importation or exportation

contravenes the Customs and Excise Management (Amendment) Act 20 of 2003 operated under the General Agreement on Tariffs and Trade (GATT) valuation agreement Articles IIV of world trade organization (WTO). “Benchmark is not acceptable. Its treatment is under the Brussel Definition of Value (BDV) which is outlawed globally and Nigerian based on global application of GATT

valuation Agreement domesticated under Customs and Excise Management (Amendment) Act 20 of 2003, is the legal and proper application for the valuation of goods. “As member of Central Bank committee on Destination inspection in 1999, Presidential Committee on Destination Inspection in 2006, Member Presidential Task Force for the Reform of Nigeria Customs Service, member Committee on

Import Clearance Procedures and implementation of Fiscal policy Measures 2013, we request that the law should be obeyed by withdrawing the circular, which is not in line with import and export procedures in Nigeria,” he maintained. He warned that, if the implementation of the CBN guideline is allowed, it would bring about duplication, lengthy and cumbersome

procedures in the nation’s import and export system, especially for those who are not experts on valuation, import and export procedures. He said the determination of valuation of imported goods, is as contained in the hierarchical principle of application on treatment of valuation of Imported goods, based on the domestication of the agreement with world Trade Organization (WTO).

Kaduna Dry Port Set for Domestic Export Warehouse Operations The Kaduna Inland Dry Port (KIDP) has geared up in readiness for full commencement of the Federal Government’s Domestic Export Warehouse (DEW) and the Export Expansion Facility Programme (EEFP) General Manager of the port, Rotimi Raimi-Hassan who disclosed that ahead of March when the DEW operations will fully commence, said KIDP has put in place all that are

necessary for smooth take off and hitch free services. Raimi-Hassan disclosed that kIDP has procured three trucks through federal government support that will be branded with Nigerian Ports Authority (NPA) approved mark to deliver export cargoes directly into the ports without delays or stoppage by any regulatory and security agency.

According to him, all checks, examinations and due diligence required must have been completed at the designated DEW facilities, which kIDP is one of the nine recently approved by the government. He also assured exporters that will use kIDP of prompt and efficient services that will help them reap maximum benefits from their investments in export business

which will open job opportunities and expand avenues for more trade The federal government through the Nigerian Export Promotional Council (NEPC) had approved the setting up of the DEW to ease supply chain constraints as part of its efforts to boost non-oil export in the country. At an interactive session with private sector export stakeholders

in Abuja, the Executive Director of NEPC, Ezra Yakusak, reiterated the council’s commitment to the success of the DEW programme At a meeting to Showcase Key Beneficiaries of Export Expansion Facility Programme in Abuja, the NEPC CEO said the agency is committed to address logistics constraints for competitiveness and promotion of exports

WACT Boss Commends NCS for Acquiring Scanner at Onne Port The Managing Director of West Africa Container Terminal Nigeria (WACT), Naved Zafar has commended the Nigeria Customs Service (NCS) for installing a new scanning machine at the Onne Port Complex. The new scanning machine was acquired by the federal government in September 2021 and commissioned by the Comptroller-General of Customs, Col. Hameed Ali (rtd). Speaking, Ali said the scanner will facilitate trade, ensure

security and drastically reduce the importation of illicit goods by unscrupulous persons. WACT Managing Director, Naved Zafar, who attended the commissioning ceremony alongside other dignitaries at the port, said the scanner will aid manifest verification, Customs tariff collection and the identification of contraband. He said WACT, which is the largest container terminal operator in the eastern ports, will offer necessary support to

NCS to optimize the benefits of the scanning machine. “We are delighted with the commissioning of this scanner. I believe it has the potential of making a lot of difference by facilitating faster and easier delivery of cargo. We have long prepared for this. As part of our Terminal Upgrade and Expansion project, we have acquired sufficient cargo handling equipment at our terminal to improve the efficiency of the port and the new scanning machine

will compliment our effort in this regard,” Zafar said. On the on-going upgrade of WACT, he said, “The terminal upgrade is on course. Recall that in 2020, we announced a fresh investment of USD100 million for our Phase Two upgrade. The Phase Two upgrade includes the acquisition of three additional Mobile Harbour Cranes, bringing the total in operation to five; 20 Rubber Tyre Gantry Cranes; three Reach Stackers; 13 terminal trucks and trailers and an empty

container handler. It also includes the deployment of reefer racks with a 600-plug capacity, as well as expansion of the current yard, new workshop and a new terminal gate complex. “We have acquired and deployed the new Mobile Harbour Cranes and Rubber Tyre Gantry Cranes. We have also installed the new reefer rack and the yard expansion work is on course. We will complete the upgrade by the middle of this year,” he said.

LCCI Pledges Support to Drive Investments for Lagos Free Zone The Lagos Chamber of Commerce and Industry (LCCI) has pledged its support to drive increased investments into Lagos Free Zone (LFZ). The President, Lagos Chamber of Commerce and Industry, Asiwaju, Dr. Michael OlawaleCole, made this pledge during a visit by LCCI Executive Members to Lagos Free Zone in Ibeju Lekki, Lagos, on Friday, January 28, 2022. Olawole-Cole commended the management of the Lagos Free Zone and the promoters – Tolaram, for the sustainable

business model, which has earned it a strong social licence and reputation within the business community in Nigeria and globally. “LCCI is Nigeria’s foremost business organisation, operating for over 130 years and with more than 60% of Nigeria’s commercial sector being members of the organisation. Today, we have visited this Zone, and we are very impressed with what we have seen. LCCI being the voice of the organized private sector, we would extend our support in driving investments into the

Zone, “he said. In his remarks, the Managing Director/Chief Executive Officer, Lagos Free Zone, Mr. Dinesh Rathi, described the visit as symbolic and a step in the right direction in gaining trust and buy-in from Nigeria’s booming corporate commercial sector. “The Lagos Free Zone is rightly positioned to service the needs of Nigerian indigenous businesses as well as international businesses who are members of the organisation. Apart from the fact that the Zone offers unmatched remarkable advantages

for corporate sector investors, it is its integration with the Lekki Deep Sea Port is a unique differentiator. The Zone is well-positioned to be the foremost investment destination for manufacturing and logistics sectors today.” Dinesh further highlighted that Lekki Port, a project of deep relevance to the growth of the Sub-Saharan African economy, is situated within Lagos Free Zone. Once it becomes fully operational by the last quarter of 2022, it would fully activate the African Continental Free Trade Area (AfCFTA) by facilitating regional

distribution and transshipment. Impressed by the investment already situated within the Zone, the Director-General, Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona, said LCCI is open to collaboration at all levels with the management of Lagos Free Zone. She further stated that LCCI would inform and encourage its members to seize the opportunities in the Zone while also engaging the government at both State and Federal levels to deliver more complementary infrastructure for the Zone.

T H I S D AY ˾ FRIDAY, FEBRUARY 4, 2022

BUSINESSWORLD

AIR WATCH

COVID-19: Caverton A I R Records N5.9bn Loss WATCH

Chinedu Eze

Caverton Offshore Support Group Plc, (Bloomberg: Caverton NL), the leading provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, has announced its unaudited results for the period ended 31st December 2021, showing a loss of N5.9billion. This result came due to the serious negative impact that the Covid-19 pandemic continues to have on business operations in Nigeria and the rest of the world, which has caused significant reduction in activities by International and Local Oil and Gas companies who are the major clients of Caverton, which, in turn, rubbed-off our Caverton operations and profitability. Commenting on the results, Bode Makanjuola, Caverton’s

Chief Executive Officer, said that the loss was caused by the significant reduction in revenue due to several mitigating factors because of the covid pandemic which resulted in drop in oil production and net foreign exchange loss due to Naira devaluation against the dollar. “As a result of this our direct costs increased significantly in 2021.” Commenting further, the CEO stated that, notwithstanding the loss reported in 2021, Caverton has robust reserves to accommodate this loss and a bulk of the reported loss is a one time charge on our accounts which arose from high start-up costs of our most recent helicopter contract with Chevron. To further boost revenues, the Group has been exploring further opportunities within and outside the oil and gas sector. In addition

to growing our market share in the oil and gas logistics sector, our primary focus for the year will be on third party training and maintenance. “Our Maintenance Repair and Overhaul (MRO) facility and our Caverton Aviation Training Centre (CATC), both in Lagos, officially commenced business operation in the 2nd half of 2021. Prospects for training and maintenance is extremely positive as we are in advanced contract negotiations with a number of government and private institutions across Sub-Saharan Africa. Caverton Aviation Training Centre (CATC) full flight simulator gained full certification by EASA, (European Union Aviation Safety Agency), in October 2021. The EASA’s mission is to promote the highest common standards of safety and environmental protection in civil aviation.

Controversy over Sharing Ticket/Cargo Sales Charge by Agencies

Travellers Award Name AWA Best Regional Carrier, Turkish Best from Europe The Organisers of Travellers Awards has named African World Airlines (AWA) best regional carrier and Turkish Airlines best carrier from Europe that operate in Nigeria. The organisers made this known when it released the results of the Winners of Travellers Awards from among the International Airlines in Nigeria for the year 2021. It stated that the winners were chosen from a pool of 27 International Airlines that operated 9,673 flights and carried over 2 million passengers from 5 airports in Nigeria. The Top 15 of these airlines were profiled. The following parameters were used, percentage of Flight delays, Number of Lost Baggage, Unresolved Complaints, Total Number of Flights, and Total number of Passengers Carried. Using independent sources and statistics from the Nigerian Civil Aviation Authority NCAA the verified data was ranked in hierarchy and totalled. The Airlines

with the lowest scores were chosen as winners. Based on this data, Africa World Airline (AWA), from Ghana had the lowest scores of 23. It ranked as number 1 in the number of flights executed in 2021 to Lagos and Abuja. It did a total of 1,141 flights using an Embraer E145. It had 35% delay with no baggage lost and no unresolved passenger complaints out of 90,574 passengers it carried. Running such a high number of flights with no lost bag and no complaints recorded against it is a rare feat. Turkish Airlines is the Second Best International Airline in Nigeria. It is also the Best European Carrier in Nigeria for the year 2021. It had 669 flights using Airbus A330, A300 and Boeing B737 flights to Lagos, Abuja and Port Harcourt. It had 210,585 passengers, the 4th highest with 24% flight delay and no unresolved complaints by passengers. It came 13th out of the

Top 15 International Airlines in the case of lost baggage. No unresolved passengers’ complaints. Lufthansa German Airlines is the 3rd ranked International Airline in Nigeria. It operated 555 flights carrying 153,780 passengers from 3 airports of Lagos, Abuja and Port Harcourt using an Airbus A330 aircraft. It suffered 21% flight delays and had a good record in lost baggage as it is ranked 3rd out of Top 15 airlines. It ranked 11th in unresolved passenger complaints out of 15 airlines which is low. Nigerian Airline, Air Peace is the 4th ranked International Airline. It’s international operation is done out of the Muritala Muhammed International Airport using B777, E195 E2 and B737 to 8 destinations. It operated 699 Flights with 31% delayed flights carrying 65,037 passengers. It had zero unresolved complaints by passengers but ranked 12th out of 15 Airlines in lost baggage complaints.

Ethiopian Airlines’ B737 MAX Returns to the Skies Ethiopian Airlines, Africa’s largest and the leading Aviation Group, has returned its B737 MAX back to the skies with the airline’s Board Chairman and Executives, Boeing Executives, Ministers, Ambassadors, government officials, journalists and customers onboard the first flight. Commenting on the return of the B737 MAX to service, Ethiopian Group CEO Tewolde GebreMariam said, “Safety is the top most priority at Ethiopian Airlines and it guides every decision we make and all actions we take. It is in line with this guiding principle that we are now returning the B737 MAX to service not only after the recertification

by the FAA (Federal Aviation Administration), EASA of Europe, Transport Canada, CAAC, ECAA and other regulatory bodies but also after the fleet type’s return to service by 36 airlines around the world. In line with our initially stated commitment to become among the last airlines to return the B737 MAX, we have taken enough time to monitor the design modification work and the more than 20 months of rigorous recertification process and we have ensured that our pilots, engineers, aircraft technicians and cabin crew are confident on the safety of the fleet. The airline’s confidence is further showcased by flying the top

executives and the board chairman and other top government officials on the first flight.” The B737 MAX has accumulated more than 349,000 commercial flights and close to 900,000 total flight hours since the resumption of its operation a year ago. Ethiopian Airlines always follows rigorous and comprehensive processes to ensure that every plane in the sky is safe. The airline always prioritizes passengers’ safety and is confident that its customers will enjoy the onboard safety and comfort that it has been known for. Ethiopian Airlines has four B737 MAX in its fleet and 25 on order, some of which it will take delivery of in 2022.

PMI REPORT: NIGERIA ECONOMY RECORDS EXPANSION IN of raw material and unfavourable exchange rate movements as factors that accounted for the increase in overall input costs. “Overall input prices rose in January, continuing the run of inflation that has been recorded since the start of the series in January 2014. The rate of inflation was sharp, but eased to the slowest in 13 months. “Wages in Nigeria’s private sector rose at a solid and accelerated pace in January. The steeper rate of inflation

reflected higher living costs, and efforts to motivate workforces, according to respondents. “Similarly, average prices charged for goods and services in Nigeria rose sharply at the start of the year. Higher raw material costs were reportedly passed on to clients in January. That said, the rate of increase moderated considerably from December’s series high and was the weakest since March 2021. All four sub-sectors registered sharp, albeit softer rates

of charge inflation. “Consequently, firms increased selling charges, but the rate of increase moderated notably,” it said. The PMI report also showed that job creation in Nigeria’s private sector continued to grow “in January, with headcounts now rising in successive months for a year. The rate of growth quickened from that in December and was modest overall. Anecdotal evidence suggested firms sought to increase output.”

NCAA, Musa Nuhu In a recent interview with Director General of the Nigerian Civil Aviation Authority (NCAA), Captain Musa Nuhu, he confirmed that adjustment had been made on the sharing formula on Ticket Sales Charge (TSC) and Cargo Sales Charge (CSC) in which the regulatory authority now gets about 58 per cent. The Director General argued in the interview that other agencies that benefit from the charges have other sources of income and government also funds them. The Nigeria Airspace Management Agency (NAMA) for example, benefits from the fund and also generates revenues from other sources. It is the same with the Nigerian Meteorological Agency (NiMET), the Nigerian College of Aviation Technology (NCAT), Zaria and the Accident Investigation Bureau (AIB). Nuhu argued that the 58 per cent NCAA takes from the TSC/CSC is about 95 per cent of its income because the agency has no other major source of revenues. “There is a bit of adjustment on the 5 per cent TSC/CSC and I have heard a lot of people say that NCAA is taking a bulk sum from the 5 per cent. That 58 per cent that we take is about 95 per cent of my own source of income. For the other agencies, whatever they get from it may be about 20 per cent of their own income because they get from other charges they render to clients. “But, NCAA doesn’t get any allocation from the Federal Government budgets. All the other agencies get from the government budgets. People just look at the TSC/CSC, but they don’t look at the bigger picture. Other agencies get annual budget from the Federal Government, landing and parking charges, over flier charges and other sources of revenues. So, all these things were taken into consideration before arriving at whatever we get from the 5 per cent,” he said. He emphasised that other revenue sources where funds could accrue to the regulator authorities are lean, noting that cost of services the agency renders to the public, including airlines has remained the same over the years. “Also, don’t forget, our fixed schedules have remained the same over the years. To get an Air Operators’ Certificate (AOC), it is just N200, 000. That is less than a return business ticket from Lagos to Kano, basically, we are subsiding the industry. That is the least charge. Some organsations are buying planes worth tens of millions of dollars, but they are only paying N200, 000 to get a certificate that will pronounce them as a commercial operator. Don’t you think something is wrong somewhere? “The N200, 000 cannot even do manual

reviews of the process, not to talk of training or retraining an inspector and you still pay him his salaries to provide those services to the airlines. So, that is one of those things we need to look forward to because the N200, 000 is less than $300. I have countries in Africa that charge $200,000 for an AOC, ”he said. While some industry observers disagreed with the Director General over the cost of obtaining AOC, NAMA has confirmed that in addition to its share from the TSC/CSC it also earns revenues from terminal navigational charges, over flight charges and en-route charges, it still collects about 10 per cent from the fund. In addition to that the Federal Government funds all critical projects in NAMA. “NAMA does not collect money from the federal government, except for critical projects. It is from the money we earn that we pay salaries; we pay overhead costs and also service our equipment. It is when there is critical projects to be executed that the federal government comes in,” the NAMA official told THISDAY. NCAT also earns money from the fund in addition to the fees students pay and also, government provides the funds for major projects in the College. So it is the general opinion in the industry that those who share from the TSC/ CSC are merely using it to support their fiscal operations, except NCAA, which relies heavily from the accruals to sustain itself. Accident Investigation Bureau (AIB) is said to earn the least from the Ticket Sales Charge and funding from the federal government. But reacting to the statement made by the Director General of NCAA; that operators only pay N200, 000 for AOC; industry stakeholders argued that airlines pay far more than that before they obtain their AOC, insisting that the process is outrageously costly, explaining that the N200, 000 is a statutory fee paid by the airline seeking for the certification. One of the operators stated that by the time “you have an AOC, if you are charter operator who can use just one aircraft, you would have to either lease or buy. There is no lease process for the Nigerian market that will cost you less than $1 million to acquire an aircraft till AOC issuance. Plus demonstrations cost is between $100,000 and $350,000 depending on machine etc.” The stakeholder said that the airline has to pay capitalisation at the CAC (Corporate Affairs Commission) for the category of license. “One needs to prepare with no less than $2 to $6 million to start any business of air transportation to client use level. I am also not exact about the costs. Can be more but certainly not less if you want to operate in Nigeria,” the stakeholder said.

T H I S D AY ˾ FRIDAY, FEBRUARY 4, 2022

BUSINESSWORLD

PERSPECTIVE

Taking the Bull by the Horn: A Case for Packaged Rice Michael Abiodun

amuel Oyetunde, a cashier working in a new generation bank paid his mother a routine visit. Upon his arrival, he was served his favourite meal of rice, native stew and chicken. Samuel spooned the food into his mouth, and the taste exploded on his tongue. As he closed his eyes to savour the delicacy, the unbelievable happened. His teeth crushed some stones and sand hidden in the rice. Samuel was filled with disbelief and sadness. Unfortunately, many of us can identify with Samuel’s plight. Subconsciously, we make ourselves vulnerable by patronizing loose rice sold in open basins in neighbourhood stores and open markets. The danger is that the loose & unpackaged rice we buy in basins are exposed to elements like stones, rodents, insects and importantly easily cross contaminated with

other food items as well as unfavourable sanitary conditions. The solution to this is to buy packaged rice, which has undergone cleaning processes like sortexing and processed in the best hygienic condition that eliminates all forms of human handling and exposure to contamination. Buying loose rice exposes consumers to purchase of cross-contaminated rice, which can happen through the transfer of bacteria or other microorganisms from other substances to rice. There are three main types of cross contamination: food-to-food, equipment-to-food, and people-to-food. For instance, putting contaminated foods and non-contaminated foods under the same roof can result in food-to-food cross contamination. This allows harmful bacteria and fungi to spread and populate. Secondly, it is a known fact that bacteria can survive for long periods on surfaces like storage

‘FG Committed to Attain Self Sufﬁciency in Sugar Production’ Hammed Shittu in Ilorin The Executive Secretary, National Sugar Development Council (NSDC) Mr. Zacch Adedeji has said that, Federal Government has put in place necessary policies and programmes that would accelerate Nigeria’s drive to attain self sufficiency in sugar production as captured in the Nigerian Sugar Master Plan (NSMP), a ten year policy document for the sector. Adedeji however urged the prospective and current investors in the sugar manufacturing to queue into the Masterplan so as not allow their investment go in vain. Speaking at Lafiagi in Edu local government council area of Kwara state on Wednesday

during a working visit to the Lafiagi Sugar Company (LASUCO), owned by the BUA Group, Mr. Adedeji said that, “Nigeria, given it’s huge human population and vast arable land has all it takes to become a major player within the global sugar sector. He restated the need for key players in the industry to redouble their efforts especially as it relates to the faithful implementation of the Backward Integration Programme (BIP) designed for the sugar sector. He stated further that the time has come for the sector to replicate the successes it has recorded in the refining of raw sugar in the agricultural aspect of the sugar business, which according to him is the bedrock of sugar production.

container and basins, when they are not washed properly or unknowingly contaminated with bacteria resulting in equipment to food contamination. Thirdly, humans can easily transfer harmful bacteria from their bodies or clothes to loose and exposed rice in basins. For example, a person may cough into their hand or touch other food items in the store and continue to sell loose rice without washing their hands in between. This also occurs when several consumers sample the rice by handling it before purchase. Cross contamination can have serious consequences as it can compromise consumer health and safety. Proper food safety practices like rice packaging can significantly reduce risk of cross contamination. In Nigeria, some rice manufacturers painstakingly comply with NAFDAC regulations and international food safety standards to protect the integrity

of their brands and ensure quality and wholesome rice, but some rice traders in the open market continue to undermine these efforts with loose rice. What then is the way forward? The answer lies in making informed decisions to purchase only quality, packaged and hygienic rice like Big Bull rice. Big Bull Rice is an ndigenous, premium quality parboiled rice. It is sortex-cleaned, stonefree and has a high swelling index. It is produced in a state of the art automated rice milling factory which has eliminated handling to the barest minimum hence giving you rice produced in the highest hygienic condition. With Big Bull Rice, you are assured of good quality, safety and the great taste of homegrown ingenuity. It is readily available in Open Markets, neighbourhood stores, supermart, Modern Trade, etc. in varying SKUs (50kg, 25kg, 10kg, 5kg, 2.25kg and 750g) to fit consumers’ preference. t "CJPEVO MJWFT JO -BHPT

Expert: Nigeria to End 2022 with N12.6trn Deﬁcit Nume Ekeghe, Tokede Kayode and Dike Onwuamaze The Group Managing Director, Cowry Asset Management Limited, Mr. Johnson Chukwu has projected that Nigeria may end 2022 with N12.6trillion deficit He noted that with narrow expectation of revenue generation, the federal government’s projection of increasing revue in 2022 is not attainable and would further cause a wider budget deficit. He said this yesterday at the bi-monthly forum of the Finance Correspondents Association of

Nigeria (FICAN), held in Lagos with the theme: “Foreign Direct Investment: Review of 2021 Performance, Implications and Outlook for 2022.” He noted that Investors are interested in large and skilled labour market, relatively free labour of less union and government control. According to him: “As at November 2021, the minister of finance said federal government revenue was N5.5trillion and that was 11 months. If you consider that on monthly basis, it means we generate N500billion every month. If you use that at the end of 2021, the federal government generated N6trillion as revenue.

“The budgeted expenditure last year was N14trillion. What that means is that we have an effective budget deficit of N8trillion last year. This year, we have budgeted to generate N10.1 trillion and we have budgeted expenditure of N17.1 trillion and budgeted N6.99trillion as deficit. The government said we going to add about N2.55trillion to sustain the payment of subsidy in 2022 alone. “If you added that N2.55trillion to N17.1 trillion we are going to have N19.6trillion but the government said they will generate N10trillion. If they achieve their budgeted revenue expectation, we are going to have N9.6trillion deficit. Nothing

has changed in the economy structurally as to enable us to generate from N6trillion to N10trillion. “If we give it a benefit of doubt and increased government revenue to N7trillion and you spent N19.7trillion. Go and note it that Johnson Chukwu said it that we are going to end 2022 with N12.6tillion deficit. “So, what follows next is that we will have to borrow. The Monetary Policy Rate is 11.5 per cent and so they are giving 13.5 per cent to Central Bank of Nigeria (CBN) to be borrowing.” He noted that the nation’s interest charge is overblown, attributing Nigeria’s economic woos to leadership.

NAICOM Releases Guidelines for Barkindo Receives NNPC Delegation in Vienna, Urges Leading by Example Insurance Web Aggregators’ Operations Nigeria to Continue The NNPC’s delegation was following an oil market industry.

Ebere Nwoji In line with the recent digitalisation of its supervisory and regulatory processes, the National Insurance Commission (NAICOM) has released what it tagged, “Insurance Web Aggregators Operational Guidelines” for all web aggregators and insurers. A web aggregator is a company registered under the Companies Act which maintains or owns a website and provides information on insurance products of different insurers. Only licensed aggregators can display products and price comparisons of insurance company products. The guideline which operations took effect from February 1,2022 according to NAICOM will serve as a working document to register, supervise and monitor web aggregators as insurance intermediary who maintain a website for providing information on products of different insurers. According to the commission, registration for approval as a web aggregator goes through three stages detailing copy of no objection/approval by Nigerian Communications Commission (NCC) and six other listed requirements. NAICOM, said the stage two of the process, lists organisational chart showing functional responsibilities, board resolution to commence a web aggregator operation and 12 other

requirements including professional indemnity cover of not less than N20 million. “All insurance companies and web aggregators operating under any agreement of a business relation whether web aggregation business or otherwise shall comply with the provisions of this guideline within sixty (60) days of its coming into effect, “the commission stated. Spelling out the registration process, NAICOM stated that there were three stages; stage one begins with physical verification of web aggregator head office address and IT infrastructure to be deployed, followed by payment of licence fee and the ultimate, issue of licence. On Service Level Agreement (SLAS) the guidelines stated that such ‘agreement’ with the insurer should be filled with the Commission within 30 days for ratification and meeting all 16 requirements itemised. On mode of operations, it said the requirements was clear on professional indemnity which every web aggregator should possess and continue to maintain a professional indemnity insurance cover with a minimum limit of liability of N20 million or 50 percent of its annual gross commission income (whichever is higher) throughout the validity period of the licence granted by the Commission.

Emmanuel Addeh in Abuja

The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Nigerian-born Sanusi Barkindo, yesterday received a delegation from the Nigerian National Petroleum Company (NNPC), which visited him in Vienna, Austria, headquarters of the oil producers’ group. Speaking during the event, the secretary general highlighted Nigeria’s key role in the global oil industry, emphasising that given the country’s stature, it should continue to lead by example. A statement from the organisation, made available to THISDAY, further quoted the OPEC helmsman as praising the Petroleum Industry Act (PIA), noting that the legal framework adopted in 2021 will help Nigeria to further develop its national petroleum industry. On oil market developments, Barkindo lauded the efforts undertaken by the Declaration of Cooperation (DoC) countries in the interest of oil market stability, which has helped the industry weather some of the most tempestuous periods in recent times. He noted that the DoC was established in 2016 to accelerate the return of oil market stability,

downturn, adding that the framework continued to prove effective when the COVID-19 pandemic began in 2020. “These countries did not need to reinvent the wheel,” he stated, adding that, “They stepped up to the challenge and adopted the largest-in-volume and longest-in-duration production adjustments.” In that context, the OPEC secretary general noted the recent positive rebounds in the global economy and world oil demand, helping stabilise the

Referencing OPEC’s World Oil Outlook (WOO) 2021, the secretary general noted that oil and gas will be accountable for more than 50 per cent of the future energy mix, highlighting that oil undoubtedly will be needed to address energy demand in the future. The meeting also addressed a number of important issues relevant to energy, including sustainable development, climate change and the importance of investment in securing future supplies to meet energy demand.

headed by the Group Executive Director of Ventures and Business Development, Dr Billy Okoye, on behalf of the Group Managing Director, Mallam Mele Kyari, Nigeria’s National Representative to OPEC. While extending the NNPC’s congratulations to Barkindo on his achievements, especially on being OPEC’s secretary general for two successful terms, the team from Nigeria commended him for the manner he has handled the affairs of the international body.

Expanzo Supports UNILAG Undergraduates Project With N5m Technology Grant Oluchi Chibuzor Expanzo, a Technology Consulting firm has granted the sum of N5 million to five final year students of University of Lagos (UNILAG) as an attempt to support new innovations from young minds in Nigeria. This is in partnership with the University of Lagos to re-shape the future of Engineering in Nigeria through technology development grants and support promising and most viable final year

projects from the Faculty of Engineering in UNILAG annually. Speaking at the inaugural selection process in Lagos, the Vice-Chancellor, UNILAG, Professor Oluwatoyin Ogundipe, advised the students that the best way to succeed is to see themselves as the best. He said “I am excited because I can see there is a future for this country despite all odds. I believe in Nigeria, I believe in the capacity of what we can do in Nigeria, I believe there are so many talents

in Nigeria, all one needs is determination. Expanzo, according to the firm, is a special purpose vehicle set up specifically for developing youths talent led by Ayodeji Macaulay, received 21 entries resulting in five winners for the sum of five million naira. During the event, Maucaulay said “For a long time I had been involved in different groups and different forums on how to develop Nigeria, how to manufacture in Nigeria and so many other concerns to move Nigeria forward.”

FRIDAY, FEBRUARY 4, 2022 ˾ T H I S D AY

BUSINESSWORLD

AVIATION

Angst Over Flight Delays Air travellers have come hard on domestic airlines over flight delays and have taken on the social media to register their anger. Chinedu Eze looks at factors responsible for the delays, airlines’ shortcomings and key ways the hostility between airlines and travellers could be minimised

he social media beamed on Nigerian airlines was literally agog last week, as air travellers and other Nigerians angrily condemned flight delays by domestic airlines. One of the angry traveller who is a lawyer, threatened court action against Nigeria’s biggest carrier, Air Peace and he became a rallying point on what was dubbed the excesses of Nigerian airlines. Although flight delays and cancellation are a global phenomenon associated to air travel, it has been a butt of anger in Nigeria due to many factors, including how it is managed by the airlines, the administrative style of air travel in the country and passengers perception and understanding. THISDAY investigations revealed that although airlines bear the brunt of travellers’ anger, there are myriads of factors that contribute to fight delays in Nigeria.

WEATHER

In a statement during the week, the Nigeria Meteorological Agency (NiMET) said: “The Nigerian Meteorological Agency has alerted the public on a possible deterioration of horizontal visibility in the northern part of the country. Fresh dust has been raised over the source in Chad Republic and is expected to be transported into the country. The dust is expected to deteriorate horizontal visibility values over the northern parts of the country from the time of the issuance of the forecast to the next 24 hours. “The statement revealed that the thick dust haze with horizontal visibility values of less than 1000 meters are expected over the northern parts of the country, especially over, Borno, Yobe, Kano, Gombe, Bauchi, Katsina, Zamfara, and Sokoto. “NiMet therefore cautioned that Flight operations may be disrupted and airline operators are advised to pick up their flight folders at all aerodromes in the country and adhere to regulations.” Since November last year, the harmattan haze has been disrupting flight operations and led to flight delays and sometimes cancellation. Harmattan haze disrupts flights that most times during the December high season flights might not operate during the afternoon.

INFRASTRUCTURE

One of the major culprits of flight delays is inadequate capacity at the airports. THISDAY learnt that it is a major set back in on-time operation of airlines, especially in

Lagos and the Abuja airports. For example, during the last Christmas season, the carousel in many airports broke down. In Lagos it happened at the both the General Aviation Terminal (GAT) or the Terminal 1 of the domestic airport and also at the major domestic terminal operated by Bi-Courtney Aviation Services Limited (BASL), MMA2. According to airline officials, the braking down of the conveyor belt caused a lot of delays that passengers had to wait for long to collect their luggage. It also delayed flight operations because airlines had to find alternative ways to move the bags to where they could be taken to the foot of the aircraft, which was cumbersome and time consuming. THISDAY investigation revealed that since it became indicative that more people travel by air the terminal space has become inadequate for travellers. Even at low season in January the GAT terminal was so crowded when THISDAY visited during early morning flights. The number of counters at the Air Peace part of the terminal was adequate that passengers travelling to some destinations have to be called out and attended to away from the counter. The terminal was literally chocking. The poor passenger facilitating process makes delays inevitable. By the time passengers go through the two x-ray machines and arrive at the departures, breathless, at least over 30 minutes have been wasted for that flight. Also at the airside the ramp is small for the number of aircraft that park there. In fact, pilots have to be careful in order not to clip the wing of their aircraft. Last week passengers had fully boarded on Air Peace flight and the aircraft was ready to depart but it could not be pulled back to taxi to the runway because it was blocked by Arik Air aircraft that was boarding passengers. When contacted, the pilot of the flight said he had to compete boarding of the passengers before it would move the aircraft for the Air Peace aircraft to be pulled back. The flight waited for almost another 30 minutes. THISDAY investigation also revealed that Air Traffic Controllers allow a flight that has taken off about five minutes before they would give start up to another. In other words, an aircraft could be waiting at the holding point of the runway for five minutes for the aircraft that has taken off to reach

a cruise level. Most often, especially at the Lagos airport, after it has taken off, the aircraft would wait for another five minutes or more for the one coming into Lagos to land. So on the average, an aircraft on the holding point can wait for 15 to 20 minutes before taking off. These delays build up on the aircraft and would affect on the services it would operate for that day.

VIP MOVEMENT

One other major factors responsible for delay is VIP movement. Top official of one of the airlines told THISDAY that the problem with VIP movement is that “you don’t know when it will end. If you are on ground you will wait and wait because for security reasons you wont be told when the President or the Vice President will take off or land. If you are in the air you burn fuel hovering and face the worry of anxious passengers. Hovering around in the airspace sends panic to Nigerian passengers. The wait can last for 30 minutes, one hour; so it is a major cause of delay.

AIRLINES

While all the blame for delays are heaped on the airlines by ignorant passengers, there are specific delays that are caused by airlines. The major one is sudden aircraft malfunctioning, which means that all the flights that will be operated by that aircraft may be jeopardised. That causes huge delay. When there is bird strike, which most often renders the aircraft to AOG (aircraft on ground), the ability for the airline to deploy another aircraft to airlift the passengers. Most often this causes long delays. Some airlines try to join two flights together. When the load factor on the first flight is low they join it to the second flight. Many industry observers said this is insensitivity and lack of regard for passengers. Sometimes some airlines with poor administrative and logistics system begin to source for aviation fuel at short notice before their flights. This causes delay and keeps the passengers stranded.

OTHER FACTORS

Also, informed source told THISDAY that NIMET may direct a flight primed to fly to a particular airport to hold on because the visibility at the airport is

below the weather minima. Airlines said that they have found out that sometimes the visibility is higher than the figures given by NIMET, thus causing unnecessary delay for the airlines. The General Manager, Public Affairs, the Nigerian Civil Aviation Authority (NCAA), Sam Adurogboye, told THISDAY that the authority allows pilots to use their discretion after they have been informed about the weather situation. He said that Air Traffic Controllers ought to advice the pilots but they don’t usually insist. “Pilot in command can say, I have the equipment that can go through the weather and he may choose to go but would be held responsible if anything happens,” the NCAA spokesman said. He said that there is standard operating procedure (SOP), which everyone must adhere to. Adurogboye admitted that presidential movement, inadequate infrastructure, merging two or more flights, operating flights disregarding schedules cause flight delays. He also explained that why flights have to wait for the ones that have taken off to gain cruise height is a provision for air return. In case the aircraft suffers malfunction while taking off it could quickly return to base. Adurogboye frowned at the current situation whereby most airlines want to operate from Lagos and about six airlines would be flying to Abuja at the same time, noting that it is a major reason for flight delay. He noted that the Federal Airports Authority of Nigeria (FAAN) charges airlines that want to locate their operational base outside Lagos less. “Airlines don’t effectively communicate to their passengers. This is very important and the more aircraft you have the more you will face the challenge of flight delays, but airlines should carry passengers along at every point,” he said. However, senior official of one of the airlines told THISDAY that inadequate and poor infrastructure is responsible for delays, recalling that last Christmas season there was total breakdown of facilities at some airports, which caused over one and hour delay per flight at some point. He pointed out that weather, documentation, waiting for NCAA approval or to certify aircraft after checks, tower request for documentation can keep airlines’ aircraft on the ground while passengers are waiting. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

SECURITY FEARS AT AIRPORTS IMPACT ON AIRCRAFT INSURANCE PREMIUM, COST OF LEASING if there was any breach. Sanusi told THISDAY that any form of uncertainty impact in the country risk and subsequently in the insurance premium and cost of leasing. “Any form of uncertainty or interference in the system affects country risk and insurance premium. Cost of living is part of the GDP. Inflation also affect the cost of these services because when the currency of a country loses power, your premium goes up,” Sanusi said. Explaining why Nigerian airlines pay higher premium than their

counterparts in other parts of the world, insurance stakeholders said there was no basis of comparison between Nigerian aviation insurance providers and their foreign counterparts because the level of risk exposures of both are different. They noted that insurance premium rate was high in Nigeria because Nigeria has high country risk and the airports lack essential facilities, with porous security system and touts milling over the entire place. “Look at our airports, with all the touts and other problems, so

everything is wrong with our airports; so the insurance rates cannot but be high. When we get our things right, the premium can reduce. Of course, size is an issue. You are generating a premium for instance that cannot buy one plane but like the likes of BA, their premium can buy three planes. So size is an issue. “We have multiplicity of problems when it comes to aviation insurance in Nigeria and you must take all of these into account in your rating. What is rating? First of all, it starts with underwriting; look at the good features and look at the bad features

and all these help you to determine your average rate, the good ones will help you to determine your discount rate, the bad ones will help you to blow the rates in order to come with the rates that apply to that particular risk. When you bring all of these into specific operators, you then look at their managements, ”said a stakeholders who do not want his name in print. Although a suspected insider job, the recent theft of critical equipment inside an aircraft parked at the ramp of the domestic terminal of the Lagos airport has affected the image of Nigeria in

terms of country risk, according to aviation security experts. Aviation security expert and CEO of Centurion Securities, Group Captain John Ojikutu (retd) said that as much as we would expect the Federal Airports Authority of Nigeria (FAAN) to provide security for the airports in accordance with the National Civil Aviation Security Programmes (NCASP) so also has the NCASP provided that airlines and the allied services too should provide security programmes for their operations and services. “These security programmes should have been approved by the

NCAA before the commencement of operations of the airlines and services providers. The NCAA and not FAAN should carry out checks, inspections or audit of the types of security provided by the airlines at its parking area to find out if there had been lapses or neglect in the approved security programme to enable a review. However, if there had been cooperation in the management of the airlines security with FAAN or any other agents that too should be examined, review or recommendations made by the NCAA for a review,” he said.

FRIDAY FEBRUARY 4, 2022 •T H I S D AY

THIS WEEKEND TR

UTH

& R E ASO

WEEKLY MAGAZINE

NEWS METRO THISLIFE ART WEEKEND ENTERTAINMENT Group Features Editor: Chiemelie Ezeobi chiemelie.ezeobi@thisdaylive.com 07010510430

Emmanuel Udechukwu: Honoured for Providing Aﬀordable, Eco-friendly Homes

T H I S D AY ˾ 4, 2022

COVER

Emmanuel Udechukwu: Honoured for Providing Aﬀordable, Eco-friendly Homes The Chairman of Roxbury Homes, Emmanuel Udechukwu recently bagged the award of Anambra Real Estate Person of the Year. Precious Ugwuzor reports that for a young man, who by dint of hardwork is providing affordable, quality, and eco-friendly homes for the residents of Anambra and Nigeria at large, the award was the reward for his quest to tackle the housing deﬁcit in Nigeria

he award of Anambra Real Estate Person of the Year won by Chairman of Roxbury Homes, Emmanuel Udechukwu didn’t come as a surprise to many because it was long overdue. For many, his impactful work of providing affordable, quality, and eco-friendly homes for the residents of Anambra and Nigeria at large, with the main focus of tackling the housing deficit in Nigeria, has been noticeable. Udechukwu is no doubt, among the developers who have shaped the real estate market in Nigeria. A real estate guru and philanthropist per excellence, Udechukwu, who is also known as Omemma Ojoto, has received several awards in different parts of the country. The awards include Icon of Peace and Societal Transformation organised by African Youth for peace Assembly; Garkuwan Matasan Arewa organised by Northern Youth Initiative of Peace and Good Governance award. Udechukwu also boasts of an award by the Pan-African Students and Youth organisation - League of African Development Students (LEADS Africa) consisting of student/youth leaders from over 15 countries of Africa. Meanwhile, the real estate guru has over the years shown outstanding leadership qualities as the former GMD/CEO of Roxbury Leisure Homes, breaking boundaries and contributing a huge quota in providing Nigerians with quality homes. For the renown businessman from the popular Ojoto community in Anambra, his philanthropic work is second to none as he has sponsored hundreds of students to further their education in Nigeria and abroad. On regular occasions, he has visited hospitals to offset bills of patients both at the Nnamdi Azikiwe University Teaching Hospital (NAUTH) in Nnewi; then hospitals in Lagos and even abroad. He is also a huge supporter of the Nigerian entertainment industry as he has supported many musicians. Recently, he was featured in the beautiful song “Levels by multi talented Nigerian songwriter and singer, Flavour. Also, favorite Nollywood actors and famous Igbo public figures, like Kanayo O. Kanayo, Cubana Chiefpriest, Yul Edochie, Zubby Michael, Larry Gaaga and others, were all featured in the original music video, which was directed by Kanayo himself. Like the goldfish who has no hiding place, Udechukwu was recently honoured at home as he was announced winner of the much-coveted award at the celebration of Inspire Anambra 30th Anniversary. The Anambra Real Estate Person of the Year award was organised by Inspire Anambra in collaboration with APAMS Limited, Chicason Group, Dr. Aladdin, VFD Group, and GBC. A letter by the organisers, read: “We

“My focal point and vision is building, expanding and investing in lives of people by ensuring that affordable and comfortable housing is available for the less privileged and low salary income earners”

Emmanuel Udechukwu are pleased to inform you of your nomination as Anambra Real Estate Person of the Year, 2021. You were chosen after a careful selection by the nomination committee based on your outstanding achievements in the real estate sector. “You are among the few special people/organisations/brands that will be honored at the second edition of ANAMBRA MAN OF THE YEAR AWARD, which maiden edition held on the 20th day of December, 2020. “The purpose is to accord recognition to the most outstanding Anambra

personalities/organisations/brands and as we celebrate our 30th anniversary, use the opportunity to paint Anambra and her people in bright colours. It also affords our youngsters a platform to spot the kind of role models they will need to emulate in the society if they want to reach for the stars in different areas of human endeavor.” While receiving the award, the Chairman of Roxbury Homes Limited, represented by wife who is the Managing Director of the company, Amanda Ujunwa Udechukwu in his speech, said: “I am delighted and happy to be honoured as

the Anambra Real Estate Person of the Year, 2021 at Anambra Man of the Year Award. “Of course, I know what it takes to be honoured, it requires more work, our efforts already doubled. We are giving the Nigeria’s real estate market a different face in 2022. I sincerely thank the organisers of this wonderful event, Anambarians, we at Roxbury Leisure Homes, will continue to give the public the best as long as we remain in the market. “My focal point and vision is building, expanding and investing in lives of people by ensuring that affordable and comfortable housing is available for the less privileged and low salary income earners.”

T H I S D AY ˾ 4, 2022

Majorwaves Managing Editor Joins Pool of Nominators for Global Energy Prize Stories by Precious Ugwuzor

The Managing Editor, Majorwaves Energy Report, Jerome Onoja Okojokwu-Idu has been shortlisted by the Global Energy Association to join its pool of nominators for the prestigious ‘Global Energy Prize.’ In a notice sent to OkojokwuIdu recently, the association stated that the decision to have him as one of the nominators was informed by his outstanding contributions to global energy reportage and discourse. Recently, a university committee on awards for Pan Atlantic University (PAU) had a review of activities by alumni of its Chevron-sponsored ‘Advanced Writing and Reporting Skills’ (AWARES) programme and Okojokwu-Idu made the elite list. He received the prize for the ‘1st position’ among

participants drawn from the 2018 class. The Global Energy Prize for research in the field of energy, is an independent scientific award for extraordinary scientific achievements, practical and theoretical development of the energy industry. It promotes greater efficiency and environmental security for Energy Sources on earth in the interests of all mankind. Since inception in 2002, the award which is spearheaded by the Russian Federation, has recognised outstanding accomplishments and development in the sphere of energy. Over the years, the prestigious prize has been awarded to 45 researchers from 15 countries namely; Australia, Austria, Canada, Denmark, France, Greece, Iceland, Italy, Japan, Russia, Sweden, Switzerland, Ukraine, the UK and the USA.

Described as the biggest Russian awards and one of the biggest in the world, the Global Energy Prize also referred to as ‘The Prize,’ accepts nominations from Scientists and/ or Organisations through representatives who have been preliminarily authorised by the association. Professor Emeritus Nick Hownyak of the University of Illinois, Urban Champaign; Chief Manager, Senior Research in Titan Pulse Sciences Division, Ian Douglas Smith; and Academcian of the Russian Academy of Sciences (RAS), Gennady Mesyats were the three Laureates of the maiden edition in 2003. Last year, Suleyman Allakhverdiev, Head of the Controlled Photobiosynthesis Laboratory at the K.A Timiryazev Institute of Plant Physiology; Zinfer Ismaigor, an Academician of the

Russian Academy of Sciences; and the Director of the Precourt Institute for Energy at Stanford University, Mr Yi Cui, clinched the awards. The winners of the 39 million Russian Rubbles ($530,000) worth Global Energy Prize awards for year 2022, would after examination by independent experts and further selection by the ‘InternationalAward Committee,’ be announced in July. The presentation of the prizes will take place during the 25th World Energy Conference at St. Petersburg from 25th to 27th October 2022. Okojokwu-Idu holds a Master’s Degree in Environmental Management from the Chemistry department of the University of Lagos. He is also an associate member of the Nigerian Institute of Public Relations (NIPR).

GOV. ZULUM, SEN. SHETTIMA TO GRACE HADIZATU MUSTAPHA’S BOOK PRESENTATION

Chief Registrar, Hajiya Mustapha The biography of the immediate past Chief Registrar of the Supreme Court of Nigeria, Hajiya Hadizatu Uwani Mustapha, has been slated for public presentation on Saturday, February 5 at the International Conference Centre, Abuja. The book, titled Hadizatu U. Mustapha: From Head Girl to Supreme Court, is written by Dotun Adekanmbi, an accomplished media relations practitioner and former Editor of Business Times, with Sa’adatu Lawal-Ahmed, an upcoming author and lawyer with the Supreme Court of Nigeria. Governor of Borno State, Prof (Engr) Babagana Umara Zulum is Chief Host at the event, while the former Governor of Borno State, Senator Kashim Shettima will be the Chief Presenter of the book. The book, Hadizatu U. Mustapha: From Head Girl to Supreme Court, published by Havilah Group tells the story of the career of Hajiya Mustapha who retired in August 2021 as the second female to hold the distinguished position of Chief Registrar of the Supreme Court of Nigeria. “I agreed to the proposal to tell my story because it helps to illustrate my firm belief that the girl-child in Nigeria can achieve her best, if given the kind of unwavering support that I got from my own parents,” Hajiya Mustapha said, adding, “the book will help to fully clarify my passion for promoting the interest of the girl child”. The author, Dotun Adekanmbi, said: “I was fascinated by the story of how Hajiya Hadizatu Mustapha’s parents, her father especially saw far into the future and accurately predicted her rise to the peak of her career. “I was also fascinated by how she effortlessly builds and maintains a formidable network of friends and associates across socio-economic classes just by being so caring, hardworking and unassuming.”

UNIVERSITY OF LAGOS BUSINESS SCHOOL GRADUATES FIRST COHORTS OF EXECUTIVE MBA Professor Michael Hayes, PhD. of the School of Natural Resources, University of Nebraska - Lincoln and Jerome Onoja Okojokwu-Idu, Managing Editor, Majorwaves Energy Report

Rockwell Automation, PowerPro Introduce Digital Services to Boost Manufacturing Rockwell Automation, an industrial automation and digital transformation company is partnering PowerPro to provide hardware, software and lifecycle services for digital transformation of the Nigerian manufacturing industry. The General Manager for PowerPro,Adebayo Johnson, in a statement on Friday, said the partnership offered significant growth potential in the food and beverage, chemical, oil and gas sectors. Others are cement, household and personal care, marine, power generation sectors as well as the fast-growing mining sector. He added that PowerPro would serve as distributor of the services offered through the partnership in Nigeria, Africa’s largest economy with an estimated population of 200 million people. “The Nigerian economy suffered as a result of the

COVID-19 pandemic, but the African Development Bank expects it to grow by 1.5 per cent in 2021 and 2.9 per cent in 2022, based on an expected recovery in crude oil prices and production. “Due to this, many production companies struggle to keep pace with the demands of the Nigerian market as a result of the unplanned shutdowns due to the unavailability of parts and production inefficiencies,” Johnson stated. Also, Craig McMaster, Channel Sales Manager, Rockwell Automation Africa, said the company had been supplying its popular Allen Bradley® brand of products to the Nigerian market. McMaster said the products had been in the country for more than a quarter of a century and already had a large base in the country. He said PowerPro had a stellar record in terms of on-time

delivery and end-user support by leveraging local inventory, technical and human capabilities. “Given PowerPro’s existing end-user relationships in diverse sectors, we are expecting aggressive expansion of the already significant Rockwell Automation footprint in Nigeria,” he said. According to him, with this development, the two companies expect to see a growing demand for industrial control equipment. McMaster said the company was also expecting to see a bigger need for solutions in manufacturing execution systems and information software, an area where Rockwell Automation focused on. He said the model of empowering local organisations to effectively service valued customers had proven to be extremely successful, both

from an original equipment manufacturer point of view, as well as from an end-user point of view. “As such, we are excited by the potential of PowerPro to provide simplified access to our products, services and expertise in the Nigerian market. “There are numerous benefits for customers when they work with their local Rockwell Automation authorised distributor. “Not only do they get access to local and current product inventory including spares and replacements, but they also receive technical assistance from local distributor product specialists who have benefited from factory training,” said McMaster. Meanwhile, PowerPro plans to commission the first Rockwell Automation Customer Experience Centre to serve as a connection point for Rockwell Automation product users in Nigeria.

The University of Lagos Business school (ULBS) has graduated its first cohorts of executive MBA participants. At the graduation reception ceremony, which was chaired by the Vice Chancellor of University of Lagos, Prof Oluwatoyin T.Ogundipe FAS, the graduands were described as being fully equipped with the knowledge and skills required to make outstanding positive impact in their various organisations and communities. Participants were admitted in September 2019 and completed their coursework and project defense in August 2021. It was observed that during the pandemic lockdown, class interactions were conducted seamlessly online. The ULBS was set up as an autonomous unit of the University of Lagos to advance the culture of excellence in business research and training in an environment that is conducive for learning. The school explores beyond the normal criteria of research universities by promoting research that transcends the realm of academic publications to reach and add value to the Nigerian and global drawn from experienced academics and industry practitioners who have outstanding track records in their respective professionals and occupational fields. The EMBA curriculum offers participants with diverse background,core course that provide a broad and solid foundation in general management as well as opportunity to select from electives that deepen knowledge in specialised business area of their choice. The programmes will commerce soon in 2022.The DBA programme of the business school is guided by the belief that a doctorate degree extends beyond the acquisition of knowledge and research skills. The programme links doctoral education with work related challenges, questions and needs of wider society and therefore aimed at developing individual’s knowledge and research skills to advance professional practice,national economic growth and the wellbeing of the society. The school also seized the occasion to honour deserving members of the society and friends of the school notably:- Dr Akintoye Akindele CFA,DRAFICA; Dr John Momoh OON; Chief Dr Olusegun Osunkeye CON,OFR,OON,FCA; Dr (Mrs) ‘Dere A.Awosika pH,D; Dr (Mrs) Ibukun Awosika; Dr Cosmas Maduka,CON; and many more.

T H I S D AY ˾ 4, 2022

E-TRENDS FAVE GIVES A PEEK INTO HER SOUND ON ‘RIDDIM 5’

MUSIC SHOWBIZ

…Your weekly entertainment delight

NOLLYWOOD

Why Did Rihanna’s Pregnancy Reveal Cause Such A Stir? Stories by Vanessa Obioha

W Fave Right before achieving mainstream appeal, GodsFavour Chidozie, now famed as FAVE, understood the need to carve her niche. Effusing influences of Jamaican patois in her lyricism on the backdrop of mellow afrobeats, she moulded her throne. With this approach, there are no second guesses to her identity — her voice says it all. It has almost become a standalone musical instrument. To assert her presence in the music space through a body of work, the Anambra born singer released her debut extended play (EP) ‘Riddim 5’ on Thursday, January 20, 2022, under the emPawa platform. The EP which houses five tracks saves the last slot for last year’s overnight hit ‘Baby Riddim’, a track characterised by mid-tempo beats and catchy lyrics. On the EP, it maintains its shine as the brightest star. While the other four tracks evince potential to be the next best thing, it necessarily wouldn’t set a new bar. In other words: it has good songs that possess a long shelf life in the industry, but arguably lacks standout hits. A close call to attaining a hit on the magnitude of ‘Baby Riddim’ is ‘Mr Man’. Both tracks are produced by Damie. The writing style for the album, which is perceived as simple, helps tell a mental story of a young girl fantasising about a love interest whom she expects to have more agency. At first, she is filled with hope, naivety, and optimism (Obsession and ‘S.M.K’), but soon expresses subtle frustration (‘Kilotufe’) in the arc. From start to finish, FAVE isn’t afraid to show vulnerability. It was all she revealed. Traversing the EP discloses a simple production that plays it safe for the 21-year-old, with all of the tracks sounding like it was cut from the same fabric albeit nuanced by different instrumentation styles. Vocally, FAVE holds her own by reproducing sounds that are both emotive and stylish. Understandably, ‘Riddim 5’ is an appetiser to what she’s fully capable of dishing out soon and not indicators of her limits. It may go on to amass a fairly sized fan base of niche music lovers, but until she releases a full-length album, it suffices.

as it the photoshoot? Or the fashion? Or about her fans going gaga over her new status? Of course, the Barbadian singer is not the first international celebrity to reveal her pregnancy on social media. Yet, Nigerians, in particular, haven’t stopped talking about her pregnancy reveal. The conversation was either centred on the music producer Don Jazzy’s heartbroken disposition over the pregnancy news of his longtime crush or the congratulatory messages from Nigerian celebrities. While some messages were skimmed, others seemed to get on the nerves of the netizens. For instance, when Timaya posted a picture of him and Rihanna on Twitter, he immediately became a trending topic with many tweeps astonished that he was very familiar with the singer. Others chose to look at the height difference between them. In Seyi Shay’s case, the singer-songwriter’s post about knowing Rihanna’s pregnancy status last year before its announcement on Monday raised eyebrows. Like Timaya, she became a trending topic. In other parts of the world, particularly the United States, Rihanna was mostly lauded for her art of the pregnancy photoshoot. The series of photos captured by photographer Miles Diggs showed her and her beau, the musician A$AP Rocky on a street, posing lovingly for the camera. The simple and casual way they dressed (Rihanna in a long pink puffer coat with gold buttons and ripped jeans and pearls and costume jewellery on her neck while A$AP donned leather pants, a denim jacket, hooded sweater and black beanie), and posed — sometimes strolling, other times, A$AP blowing a kiss on her head — ultimately toppled the tradition of celebrities looking dolled up for their pregnancy photoshoot. As the New York Times fashion critic Vanessa Friedman pointed out in an article, Rihanna’s pregnancy portrait achieved two major things. “First, the evolution of street-style photography from guerrilla reportage to a new kind of fashion image-making (the visual equivalent of casual Friday); and second, the increasing use of social media as an exercise in image-building. It is a way for celebrities to communicate with their fan base and community, and offer up apparently personal and unvarnished glimpses of their lives in as varnished and controlled a way as possible.” In Nigeria, the pregnancy photoshoot is steadily catching up, although some make the announcements after delivery. For instance, actress and singer Adesua Etomi released her pregnancy photos with her husband, singer Banky

‘GHANA JOLLOF’ TOPS SHOWMAX MOST WATCHED LIST OF 2021 Basketmouth’s comedy series ‘Ghana Jollof’ was the number one most watched title on the video streaming platform Showmax last year according to

A$AP Rocky and Rihanna W after her child delivery. For fashion designer Toyin Lawani, it was a photo series to promote her products.

Whether celebrities choose to make the announcement earlier or later, the effect remains the same: drive fans crazy.

the recently released statistics of the 10 Most-Watched Shows of 2021. The comedy series centred around the lives of two friends, Jasper (Funnybone) and Romanus (Akah Nnani), who left Nigeria for Ghana in search of greener pastures dominated the chart for 13 weeks straight after launching in October last year. Also, for the second time, the popular reality TV show Big Brother Naija, a.k.a. BBNaija

made the list. The sixth season of the show generated a lot of conversation among fans and viewers on social media throughout its 72-day run. Other titles featured on the list ‘My Flatmates’, ‘A Thousand Way to Break a Cheating Man’, ‘BBNaija: The Buzz’, ‘I Am Laycon’, ‘Night Bus to Lagos’, ‘Riona’, ‘The Cleaner’ and ‘Unmarried.’

How ‘Movement-Japa’ Exposed Layers of Corruption in Society

he Zuri24 Media production aired the final episode of its drama series ‘MovementJapa’ recently. The ending was bittersweet: Shina (Gideon Okeke) finally landed a music recording deal while Mimi (Okawa Shaznay) became the Nollywood actress she has always dreamt of, and the corrupt politician and police officer paid dearly for their crimes. But Osas (Sambasa Nzeribe), whose dream was cut short alongside other stowaways, cast a plaintive shadow to the protagonists’ celebration. Like them, Osas had dreams too which unfortunately did not materialise. Although apparent, the 13-episode ‘MovementJapa’ jugs memory in the most realistic and relatable ways. It doesn’t centre on one type of problem faced by society rather affords a panoramic view that instantly reminds its viewers of their role in attaining the country/land of their dreams. They see where they are placed in the domino effect. Centred on Shina, Mimi and Osas, the characters reflect the disposition of most Nigerian youths who seek greener pastures to live their dreams, forgetting that dreams are process-driven. “Your dreams are valid but it will come through a process,” remarks Executive Producer of the series Femi Odugbemi. “Real success comes when you focus on growth, personal development, and careful planning. Relocating abroad does not guarantee the achievement of your dreams and may in fact

leave you vulnerable to factors and forces that are beyond your control or understanding.” However, ‘Movement-Japa’ delves deeper into the core of this hopelessness. It exAposes the different layers of corruption in society which often make dreams unrealisable. The series is peppered with many instances that show how moral values are compromised. From the sale of fake phones and drugs to the vulnerable, the devilish plan of a mother paying to have her step-daughter killed, the corrupt Uncle who extorts his cousin and friends and used them as drug mules, to the corrupt Divisional Police Officer who helps a dirty politician to traffick drugs and humans. All of these instances, Odugbemi argues, makes it difficult to narrow the definition of corruption in Nigeria to financial crimes. “The real tragedy is the corruption of our value systems, corruption of our cultural identities, corruption of our parental responsibilities, corruption of family heritage and so on.” The biggest corruption, according to him, is that “our humanity has become debased and the value of life in Nigeria has depreciated even faster than the Naira. You read it in the news every day. This is our most urgent crisis. It will take a concerted effort by all to reverse the decay. I hope our story starts a conversation that creates a movement

back to a more ethical, more humane Nigeria.” Indeed, the horrifying tales of young ones killing and maiming loved ones for riches is an indicator

of the moral decadence in our society. Perhaps, as Odugbemi points out, ‘Movement-Japa’ will help reset mindsets.

Gideon Okeke and Okawa Shaznay in ‘Movement-Japa’

T H I S D AY ˾ 4, 2022

ART WEEKEND

…For pure art enthusiasts

Six Artists Interrogate Emotions, Identities and Futurism at Young Contemporaries 2022 Young, talented and spirited, the six emerging artists in the Rele Arts Foundation’s annual visual art tradition titled ‘Young Contemporaries 2022’ unleashed a varied collection of works at the National Museum, Onikan that was inspired by their wealth of personal experiences and an intensive boot camp programme. Yinka Olatunbosun reports

t its grand opening on January 9, a flock of young people assembled at the National Museum, Onikan- the home of the 2022 Young Contemporaries to see the outcome of a two-week virtual boot camp held in 2021. This initiative by Rele Arts Foundation kicked off in 2016, and now has blossomed into a cultural staple for young artists to express their creativity using a diverse range of medium, tools and resources for artistic development. At the month-long show which wraps up this weekend, each artist brings his or her perspective to shed light on themes of identity, trauma, family ties, time and memory amongst others. This year, the show becomes more cosmopolitan as it features four Nigerian artists as well as two artists from Ghana and Zimbabwe. They held their audience spell-bound with every day realities interpreted through the visual language. For Ayobami Ogungbe, his relatable collection titled “&Co” celebrates the popular trend of ‘aso ebi’ which is an identical, ceremonial fabric for families, friends and loved ones. “It is the culture of wearing clothes cut from the same fabric. You can see it on twins, triplets, couple; you see it at weddings and political rallies; schools and associations. It is a commentary on how we use fabric to identify with an ideology, religion or familiar spaces,’’ Ogungbe revealed. The young graduate of Mass Communication from the University of Lagos taps from the ingredients of the mundane to document a repository of experiences, bearers of distinctive identities and custodians of culture. With a combination of photography, weaving and collage, he uses “&Co’’ to highlight codes of belonging and social solidarity. On her part, Jessica Soares draws upon an emotional story in her body of works titled, ‘Chronicles of Esther.’ Both she and her mother live with Alopecia-an autoimmune disorder that causes hair loss. Soares juxtaposes the subject matters of trauma, vulnerability while raising questions about social standards of feminine beauty. Her audience would leave the show

One of the exhibits at the Young Contemporaries show

better informed and less judgmental of ladies on low cuts or wig-wearing women and men. Just opposite Soares’ motherdaughter exhibits you’d find Kenneth Oghenemaro’s ‘Fast Traveler,’ a series of oil paintings that imagines the possibilities of time travel as a means of rewriting history. A blend of science, fiction and futurism, the artist also explores his childhood experiences of dealing with asthmatic. The subjects in his paintings are thought-provoking, projecting the future in today’s vision. As for the Ghanaian artist with specialty in sculpture, Michael Jackson Blebo, his artistic journey traverses geological formations, material memory and architecture in his collection called ‘Spaces of Scent.’ Using charcoal, phyto (natural

pigment), earth colours, bentonite clay and steel pipes, he confronts the viewer with shifting perspectives on materiality and the fluidity of organic forms. Driven by the need to catalyse critical conversations, Neec Nonso excavates memories and experiences with the series ‘What was dead was never dead.’ It is an on-going project that examines the belief in reincarnation and the posthumous existence of the dead. Borne by still images and augmented reality, the works raises questions about the afterlife with intimate family stories as well as popular myths and taboos. The native of Aguleri, Anambra started his online series called ‘Aguleri stories’ which tells the story of an Igbo community that has gained notoriety for its boundary wars with

neighbours. Nonso won the best portfolio at the LagosPhoto Festival in 2019 and was awarded a one-year residency programme at the African Artists’ Foundation, Lagos. Before she gave the audience a taste of her performance art, the Harare-based artist, Nothando Chiwanga exhibited her photography series titled ‘Muroora Weguta’ which considers the relationship between patriarchal enforcement and the roles of women in African society. The self-portrait artist deploys her body as a medium of memory and fiction to reveal the complex nature of young womanhood in a dynamic society. With photography, film and performance, Chiwanga domesticates theAfrican discourse on young women with cross-generational appeal.

Two Nigerian Brothers Get Eight Books Published Yinka Olatunbosun Two Nigerian brothers, Emmanuel Omilusi, 10 and Martins Omilusi, 11 have made history in Europe by publishing eight books all at once. The public presentation of the books which was held on January 23 on the Island of Malta was attended by government officials, school administrators and students, the African community, amongst others. The brothers who are students of Maria Regina School, Malta are Ekiti indigenes. While Emmanuel is credited with four titles namely ‘Loser Liam,’ ‘Stranded and Other Stories,’ ‘Haunted School,’ ‘The School Shooter and the Creepy Spy,’ his brother Martins has his own four titles namely ‘From the War Zone,’ ‘Finder of the Land’, ‘Soccer Academy,’ ‘Lost in the Woods and Other Stories.’ It came as no surprise since their father, Dr Mike Omilusi, a university teacher, is also a prolific author of almost a dozen books. Dr. Omilusi who encouraged his children to write very early revealed that they might have been inspired by his own perennial preoccupation of research and writing but graduated to independent writings of their own. “My school stories are relatable and sometimes from my experience. I would sometimes go for a walk and think of ideas. I write to entertain and inspire others,” Emmanuel said. His brother, Martins mirrored the same sentiment. “I mainly write fiction books because they help me express my ideas and thoughts to the world and I can get as creative as I wish to,” Martins said. Ms. Josette Dalmas, Head of School, Maria Regina Qawra Primary School expressed her admiration for the boys’ effort. “I was really surprised when l saw the invite and discovered that some of our kids are already pursuing such huge dreams.” The Head of School also commended the parents for giving the young authors this opportunity to learn from home.

Unchained Vibes 3.0: Spotlight on Embattled Filmmaker Mukhtar Aminu Yinka Olatunbosun He has only released the trailer to his documentary film titled ‘Makaranta’ but had to flee from his home in Kano following the outrage from government authorities. Shortly after he released the controversial trailer, he was invited by the DSS. While considering this invitation, his work station was ransacked in a violent manner by unknown persons and he took that as his cue to run for his dear life. Aminu is just one of many artists from Nigeria who live in fear because of the way their artistic work has been received by authorities. The young film maker has been declared wanted for allegedly promoting immorality. At the monthly series held last weekend at the Freedom Park Lagos in honour of artistic freedom, Unchained Vibes, the embattled film maker in video call told the Lagos audience that his movie was primarily to equip young girls with sex education and gender equality. This movie was borne out of the growing teenage pregnancy and how they can protect themselves from sexually-transmitted diseases.

Meanwhile, the edition commenced with a brief performance poetry, followed by a keynote address by the revered actor and movie producer, Prince Jide Kosoko titled “Public Morality versus Artistic Freedom.” Kosoko’s movie ‘Amina Elehan’ was censored for its title on the allegation that it makes a mockery of an Islamic name when it was first received by the Nigerian Film and Video Censors Board. “As artists, we have a God-given responsibility to mirror the society, educate, enlighten and entertain. This responsibility however comes with a big burden, calling for appropriate balancing in using our artistic freedom in such a way that does not hurt public morality,’’ he said. He added that arts, especially movies and music, have the greatest influence on public morality. “As for us, it is just necessary to dramatise whatever we want to correct,’’ he argued. During the panelists’ session, chaired by culture activist, Jahman Anikulapo, other issues that threaten artistic freedom were broached by the speakers. For instance, the veteran actress, Hilda Dokubo observed that “the society still demonises the

L-R: Prince Jide Kosoko presents the Artist of the Month Award to seasoned actor, Hilda Dokubo

Nigerian female actress, treating her like a prostitute while using religion to subjugate them.’’ The human rights lawyer, Oluwadare Kolawole pledged his legal backing for any artist who is being victimized by the state for

his artistic work. Unchained Vibes 3.0 ended with the conferment of the Artist of the Month Award on Dokubo for her relentless fight for social justice. The monthly series ended with its founder, Ayo Ganiu thanking the audience for their continued support for the monthly series.

T H I S D AY ˾ 4, 2022

METRO

…Your city life in print

A Surprise Birthday Bash for Phina Origho Friends and family members recently gathered in Lekki, Lagos, to honour an educationist and hospitality expert, Mrs. Phina Origho, founder PLAMJ Hotel and Catering Services Limited, whose husband along with their children held a surprise birthday bash for her 60th anniversary. MARY NNAH who witnessed the event writes

The celebrant, Phina with husband, Peter Origho

he surprise was undeniably massive for Mrs. Phina Origho, one she could not contain for a moment. And for a couple of hours after she walked into the beautifully decorated hall, hand in hand with her husband, she remained astonished and speechless. Her husband, Mr. Peter Oghenovo Origho, a retired management staff of National Petroleum Investment Management Services (NAPIMS), a subsidiary of Nigerian National Petroleum Corporation, (NNPC) along with their children had planned a big surprise birthday bash to mark her 60th birthday. Everything was planned top-secret and even the invitation cards for the occasion sent to friends and family members indicated it was a surprise party and should be kept away from the celebrant. Held at Skyview Event Hall, The Lekki Coliseum, Lekki Lagos, the occasion had family members and friends who came from far and near to honour Phina Origho on her diamond jubilee. “I don’t really know where to start. I have surprised so many people on their birthdays and have gotten through it. I boasted that nobody will beat me to it but today, I have proven myself a liar”, she retorted the instant she grasped the overall situation. Speaking further, she noted, “They beat me to it. My children and husband told me we are going out for lunch. I never expected to see a huge party like this. People from different parts of the world came. I was so surprised when I entered the hall.” The most surprising thing for her, in the whole scheme, she said, was the presence of Kunle Remi, a Nollywood actor. “Bringing Kunle Remi to my birthday celebration is shocking. I love his acting. He is one of my best actors. I usually watch him in movies and today I saw him live”, she noted with so much excitement. Born 60 years ago, Phina who is originally from Onitsha in Anambra State, grew up in Delta State where she met her heartthrob. “I’m from the Eastern part of the country, Onitsha precisely, while my husband is from Delta - Urhobo. We met when we were very young whilst my dad worked with Shell Nigeria BP in Warri. We found each other and so, my parents and his parents accepted the union and today our marriage is over 35 years”, she reminisced. Hyping on her husband’s inherent qualities, she said, “He was and still is a very handsome

Phina lost in admiration for Kunle Remi, a Nollywood actor who turned up at her birthday while one of her daughters,Mrs Enajemona Lydia Origho Ofulue looks on man. He smiles a lot and he doesn’t talk. He is a quiet person. He is a very strong religious man.” On what has kept their union so strong, she said, “I’m very charismatic and that has kept us together. I wouldn’t say there are no problems here and there, provided we are able to resolve and move ahead. Understanding each other has kept us. We know what we want and what we don’t want. Trust is another thing. He trusts me so much. He has a lot of trust and believes in me.” She was also quick to advise young couples that to make their marriage withstand the test of time, they should put God first in whatever they do and should be friends. “Husband and the wife should be open to each other. There shouldn’t be secrets. Once there is secrecy, there are usually a lot of problems. Recalling her youthful days, she said, “After the Nigeria civil war, my father who was working with Shell took all of us down to Ughelli, Delta State where he lived and worked. I was in primary four when I came to Delta State. I attended primary and secondary schools there, as well as tertiary institutions.” An educationist by profession, Phina, a former Principal at Jeddo Secondary School, Jeddo, Delta State, retired as a director in the Post Primary Education Board, Asaba, Delta State about three years ago just about when she delved into the hospitality business. “I studied home economics in university. All my life I have been practising it even while I was teaching, I was doing that as a side job, when I retired I decided to

go into it full force, so I founded PLAMJ Hotel and Catering Services Limited”, she explained further. On how she feels about being 60 years of age, she said: “Age is just a number. That’s the way I see it. And it is in the mind. If you want to be old, tell yourself that you are old and if you want to be young even at old age you behave like a young person. So, I feel young and energetic at 60.” “Everything is by the grace of God because most of the time I multi-task, doing so many things which I’m not supposed to. I think I do what makes me happy whether I’m delving into so many activities, I don’t care as long as it makes me happy,” she said of her very appealing looks. In her 60 years of life sojourn on earth, she will describe her first five years in marriage as most challenging. “I will say five years after my marriage was very challenging. That was when I started having children and my husband was not always with me. He was working at different places while I lived all alone with the children. I single-handedly raised the children. I was in Warri with the kids while he only came once in a while and went back to his location. That was tough for me. But now he is retired and we are fully back together.” Giving gratitude to God for her life and growth in the last 60 year, she said, “I want to thank the almighty God for making this ceremony a reality and for protecting me till this diamond age. I want to thank my better half; the man that the Lord provided for me; my heartthrob, the one that puts a smile on my face when I am sad and the

“I feel young and energetic at 60. Everything is by the grace of God because most of the time I multi-task, doing so many things... I think I do what makes me happy whether I’m delving into so many activities, I don’t care as long as it makes me happy”

father of my wonderful children. “Someone said earlier that people should thank me for putting up with my husband, but I will rather say that people should thank him for putting up with me. My father told my husband then that he was giving him this ‘stubborn girl ‘ and that he should please take care of her and today I am proud to say that I lack nothing with him. “People see my husband as a tough man but I don’t believe that. You might be different in your home and in your workplace you are a different person. He’s a stern person in terms of work. He doesn’t play with his work, he believes in integrity. People might judge him differently but for me he’s just a nice person. “And I’m not stubborn, I’m very optimistic. If I believe in a course, I would go all the way to get all that. People might take that as being stubborn. “I want to thank my children for the coup they planned with their father. I was told they were going to do a family lunch at a hotel and that was all, not knowing they had a big plan”, she told the crowd that had gathered at the event hall to celebrate her. Her daughter, Rukevwe Origho Nwoye, a lawyer, described her as one of the most important persons in her life. Speaking, she said, “My mother was born in Anambra state but brought up in Delta state where she met my father. She is the only girl of her mother and the second of three children. Until her retirement in 2018, she was a teacher for 35 years and a successful entrepreneur running over six businesses simultaneously. She has been a very loving and extremely selfless person. “ I consider my mother one of the strongest persons in the world. I wonder how she juggles her career, family and social life with such precision while holding leadership roles in many organisations at the same time. Her zeal and drive for great achievements is exceptional. She is a great mother, wife, grandmother and friend. She has been instrumental to every one of our growth and the growth of many individuals that have come her way. “My mom never believes in quitting, I owe her my career in law. You have been a perfect mother and we all are who we are today because of you. Thank you for all you do for us. I pray this 60th birthday brings you so much joy in good health and long life.”

T H I S D AY ˾ 4, 2022

POLSCOPE

áÓÞÒ ÎÎã ÎÓàáÜÓ ÏÎÎã˛ÙÎÓàáÜÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×˜ ͸΀͸ͽ ͻ͸; ΁ͻͽ;

Amaechi, the Turban and the Presidency The North and the Entitlement Syndrome

Bala Mohammed

Amaechi in Turban

t is a turban like none other. Some non-northerners had been turbaned in the past. Yet this one for the Minister of Transportation, Rt Hon Rotimi Chibuike Amaechi sparks differently. It is not for nothing. Not only is it not an everyday ceremony, it is even more spectacular that a far deep Southerner is being considered for a prized cultural honour with the faint flakes of Islam around it. Too often, it is a cultural title given to essentially noble Hausa/Fulani elite, many of whom are Muslims, yet it has nothing to do with Islam as a religion. So, the choice of Amaechi for this far-from-home honour will surely provoke some curiousity, not only because Amaechi is a devout Catholic, but also because of the location and timing of the ceremony which holds tomorrow in Daura, Katsina State. Many people have interpreted political reasons into the ceremony. They can’t be blamed. Perhaps even more curious is the title itself: Dan Amanah Daura, which loosely translates to mean the ‘Trusted son of Daura’, or the confidant of Daura. That itself is loaded with meaning. Why is it that the entire Daura Emirate picked on Amaechi and declared him the trusted son of Daura? In a way, it sounds like that voice from heaven (in the Bible)— that proclaims: “this is my beloved son, in whom I am well pleased”. Coming from the homestead of a taciturn President Muhammadu Buhari makes it even more curious. Did the Emir of Daura, Dr Umar Farouk Umar, get a word from Mr President to honour his minister with this title? Is this title meant to send some coded messages to the polity? Here is a minister who has largely faced his business of revamping the Transport ministry with scores of iconic achievements on various aspects of the ministry, ranging from the revolution in the Rail transport across the country, the development of the marine sector, including the soon-to-come breakthrough in the Deep Blue Sea project, etc.; who has markedly stayed away from the ruckus noise of the 2023 presidential race, being invited to be honoured by the kinsmen of Mr President in a ceremony that promises to be as loud and colourful like a Christmas orchestra. It is remarkable that all these are coming at a time that politics is literally flaking in the air. Not long ago, Bola Ahmed Tinubu, a frontline chieftain of the APC, had expressed his interest in the presidential race. After him, almost half a dozen others have done so. In less than a dozen days, the much-awaited National convention of the APC will hold. It is quite telling that the echoes of this turbanning will literally usher in that major political event in the party. Expectedly, there has been no yes-or-no response from Mr President on those who

came to inform him of their ambition. But with this turbaning, comes a loud but undefined ululation of embrace and acceptation from the kinsmen and allies of Mr President on the personage of Mr Amaechi. But a number of persons like Dr Jonathan Silas Zwingina, a former senator and former co-ordinator of the MKO Abiola Campaign Organisation (Hope 93) have argued that politics aside, Amaechi is most deserving of the honour from the Daura emirate. By ensuring that the Kano-Maradi train line passes through Daura to the Nigerien commercial centre, means that the daily economy of Daura will experience a transformation, by way of business opportunities as well as employment opportunities. The Daura emirate is not only proud of this, they are appreciative. The other remarkable feat is the citing of the University of Transportation in Daura, by Amaechi as Minister of Transportation. It is noteworthy that this initiative comes like a CSR from the CCEC, the Chinese company building the rail line. It will not be paid for by the federal government. But Minister Amaechi had insisted that they build a university as their contribution to the development of the Nigerian state. He could have as well negotiated something else that will be beneficial to just himself alone. What is more, there will be another such University of Transportation in Amaechi’s hometown, Ubima, Rivers State. It is also instructive that while work has started in the Daura University, even the drawings for the Ubima University are yet to be done. Loyalty! Again, the import of this is not lost on the people of Daura, who seem to be saying the coming of Amaechi is like the coming of light which has not only illuminated the dark alleys of Daura, it has raised the notches of importance for the entire emirate. Perhaps one other consideration that favoured Amaechi is what the Daura emirate considers as the “great support” their son—Mr President, got from Amaechi before and after the presidential race in 2015. Not only was Amaechi the Director General of the Buhari campaign organisation in 2015 and 2019, Amaechi indeed had thrown in his all, in support of the candidature of Buhari for president. No doubt, Amaechi had played very pivotal role in the emergence of Buhari as the APC candidate and even much more role in ensuring that the hotly contested 2015 general election that saw the ouster of an incumbent president, culminated in Buhari’s victory. Some had argued that until Amaechi got involved in Buhari’s political odyssey, the latter never smelt victory. In all, Amaechi who has arranged for a crew of his Catholic clergy to witness the ceremony tomorrow “to assure them I am still a Catholic”, has accepted the honour from the Daura emirate not only to respect the person of Mr President, but also to appreciate the acknowledgement extended him from the ancient emirate. All things considered, Amaechi must ride in his wind of favour and savour the moment of his honour and glory, as he gets the turban of honour as Dan Amanah Daura. Congratulations!

any years ago, a friend, Robert Opara had arranged an interview session with the then governor of Sokoto State, Alhaji Attahiru Bafarawa. A couple of other journalists were on the trip. By the time we settled for the interview in Sokoto, we were somewhat shocked at the possessive grip northern politicians had (and still have) on the concept of power in Nigeria. At the time, former President Olusegun Obasanjo was in power. He had done a few things that seemingly unsettled the status quo. He had re-organized the army for instance and displaced some power barons who thought or behaved as if Nigeria was an extension of their private estate. So, during the interview, then Governor Bafarawa kept implying that the north conceded power to the south just to give them (southerners) a sense of belonging, but given the way it has been “misused”, “now we want OUR power back”. He repeated the last phrase several times in a way that suggests the north owns the political power in Nigeria and gives it out to whomever it wants. Not unexpectedly, Bafarawa attempted to run for the presidency at the end of his tenure in 2007, but he soon found out that Nigeria is actually not a property of any region, as his presidential dream remained in the pipe, even till today. Perhaps, the attention of Governor Bala Mohammed of Bauchi State should be drawn to this fact, as he bays for the presidential seat. There is no debate about his having the right to contest for any office in the land. Every eligible Nigerian actually does. But given the plurality of the Nigerian state, its founding fathers had always tried to factor our divergency into the operations of our political life. More recently, this has been denominated in the north-south equation. Power orbit is thus expected to rotate between the north and the south. And so, with the expected expiration of the Buhari-led administration in May 2023, a Southerner is expected to mount the saddle of leadership in the country, since Buhari is a northerner, from Katsina State. But Gov Mohammed does not think so. In pushing his quasi-logic, he argues that the north-south rotation applies only to the All Progressives Congress (APC) and not his Peoples Democratic Party (PDP). According to him, of the 16 years the PDOP was in power at the centre, the south was there for 14 years, adding further that it is thus not fair to say the north has over-stretched its hold on power. Gov Bala should be reminded that Nigeria did not begin with the PDP. Both in the military and in the short-lived years of democratic rule in the first and second republic, the north had held the longer end of the knife in the political arena. It is rather preposterous to assume that after the eight years of Buhari’s administration, that power should remain in the northern bloc of the country. Yes, any party can zone its presidential ticket to any part of the country, but the two dominant political parties must be guided by the need to be equitable and fair to all parts of the country. The PDP appears to be tilting towards the north with the likes of Bala Mohammed, Aminu

Tambuwal and Atiku Abubakar strutting in the political space already. Like Bafarawa, these northern politicians and governors speak with an air of entitlement. Why do they think that it is either them or no one else in Nigeria? Why do they think or assume that the Nigerians from the south east region, for instance, do not deserve to produce Nigeria’s President? Why is there hardly a thought spared for the Igbos? Needless to argue that there are a crowd of bright brains and people of immense capacity among the Igbos. But turn after turn, the Igbos are treated and regarded as under dogs: never fit for exhibition. Were it not so, since the dawn of this democracy in 1999, no Igbo man has either been considered for a President or even Vice President. Surely, it is not for the lack of credible men with capacity and character. In 2003, late Dr Alex Ekwueme, second republic Vice President, had vied for the presidency but his governor kinsmen from the South East states, preferred to support then President Olusegun Obasanjo. Thus far, it appears that the Igbo man is considered good only for number three in the country (the Senate Presidency). That should not be. Every Nigerian has an equal stake in the Nigerian state. It is instructive that right now there are another set of prominent Igbo men like Peter Obi, Dave Umahi , Orji Uzor Kalu, Kingsley Moghalu, Sam Ohabunwa,Anyim PiusAnyim, Rochas Okorocha etc., all eyeing the presidency. They are members of both the PDP and the APC. Some good thought should be spared the Igbos. They are Nigerians. To keep keeping them aside on presidential matters is to imply that the Nigerian civil war has ended but some political demagogues are still in the trenches. Some have blamed the “inappropriateness” of an Igbo man presidency on the wild agitation for the republic of Biafra as being championed by the IPOB leader, Nnamdi Kanu. That is certainly narrow and parochial. Not only have many Igbo leaders disowned the agitation for a sovereign country, the question would be asked whether or not the agitation of Sunday Igboho for Oduduwa republic also makes a Yoruba man “inappropriate” for the presidency of this country? We must always be guided by the aphorism that what is good for the goose is also good for the ganders. The issue of zoning is surely a sensitive matter in the political parties. Almost every region is interested in producing the number one citizen. It is left for the political parties to show enough respect for the fibres of decency and justice to do the right thing. The PDP is already getting torn apart on this issue. While many sitting governors think the presidential ticket must be zoned to the north, others argue that the South south has not completed the unfinished slot vacated by former President Goodluck Jonathan. It could be an explosive concern. The APC on the other hand is settled about the presidency being zoned to the South. But where in the South? Would it be to the South West which had produced Olusegun Obasanjo-(as President for eight years) and Yemi Osinbajo—as Vice President for another eight years (by 2023); or would it be zoned to the South South to make up for the one term of the Jonathan administration? Or would the South East, for once, come into reckoning? The die is cast.

FRIDAY FEBRUARY 4, 2022 •T H I S D AY

FRIDAY FEBRUARY 4, 2022 • T H I S D AY

FRIDAY, FEBRUARY 4, 2022 ˾ T H I S D AY

BUSINESS/MONEYGUIDE

Global Bodies Partner Local Green Techs to Address Food Losses Gilbert Ekugbe To prevent post-harvest loss of crops in Nigeria, the Basel Agency for Sustainable Energy (BASE) and the Swiss Federal Laboratory for Material Science and Technology (Empa), both in Switzerland, are currently developing an open-access data science-based mobile application, called, ‘Your Virtual Cold-chain Assistant (YVCCA),’ to enable smallholder farmers, aggregators and food traders to optimise cold storage facilities and farm management through partnerships with green-tech firms. The partnership is apt considering the fact that about 40 per cent of Nigeria’s produce is lost and wasted due to poor storage facilities, transportation challenges and absence of an effective cold chain. In a statement to announce the collaboration, the agricultural stakeholders said following the yearly loss, about 25 per cent of smallholder farmers’ yearly income is lost to food deterioration estimated at $39.34 billion while 76.9 million metric tonnes of produce are wasted on a yearly basis. According to the statement, yet, amid the loss and wastage,

Nigeria faces significant risks due to a lack of access to cooling that can protect food, especially fresh and perishable foods. “Besides the negative impact on farmer’s income caused by food loss, farmers suffer income loss by being forced to sell their produce at give-away prices at the wrong time due to lack of access to market information and cold chain facilities as well as harvest at the same time by almost all the farmers. “Climate-friendly cooling technologies are available, but their deployment is limited due to lack of reliable access to energy, high-upfront costs, unavailability of proper maintenance, limited financing options and technical know-how. Hence, the professionals have harped on strengthening the agricultural cold chain and enabling access to market intelligence as it would bring tremendous economic, health, and environmental benefits for farmers and the growing population. “Since agriculture plays a vital role in the economy and Nigeria’s rural population is particularly dependent on agriculture for their livelihood, some international organisations have also called for

the deployment of technologydriven apps to mobilise farmers, dealers and traders for cold chain utilisation based on market and shared infrastructure information. However, public storage infrastructures in Nigeria have been concessioned, and the remnants mostly dysfunctional and without capacity for cooling vegetables and fruits, “it said. “As part of solutions to the multifaceted challenges, BASE and Empa are currently developing an open-access data science-based mobile application, called, ‘Your Virtual Cold-chain Assistant (YVCCA),’ to enable smallholder farmers, aggregators and food traders to optimise their decisions on produce and farm management, and to gain access to sustainable private-sector operated cooling infrastructures. The project was launched in September for Nigeria. “The expansion of the project is commissioned by the Federal Ministry for Economic Cooperation and Development (BMZ) and is being carried out by BASE in partnership with Empa on behalf of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) (GmbH).

Fidelity Bank Finances 400MT Per Day Ultra-Modern Rice Milling Factory Kayode Tokede The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele joined the Managing Director of Fidelity Bank Plc, Mrs. Nneka OnyealiIkpe and a host of dignitaries including two state governors to commission a 400 metric tons per day mega rice mill in Kano state constructed by Gerawa Group of Companies. Speaking at the commissioning of the mill and the foundation laying of additional 560 metric tons rice mill, the CBN Governor stated that before 2015 Nigeria had less than 10 functional integrated rice mills with a combined capacity less than 350,000 metric tons, but with the coming of President Muhammadu Buhariled administration, the statistic has grown to over 60 integrated mills with a combined capacity of over 3 million metric tons. The CBN governor added that there are about 10 new

integrated mills scheduled to be commissioned this year emphasising that the growing number of integrated mills have been complemented by hundreds of small-scale mills located across the states of the federation in an effort towards boosting the nation’s food security. He explained that the private sector investment that has been unlocked in the establishment of these rice mills are testimony of the conducive environment created in the rice value chain through the CBN-led initiatives and stakeholders’ cooperation. Commenting on Fidelity Bank’s support for the project, its Managing Director/CEO, Mrs. Nneka Onyeali-Ikpe, who was represented at the event by the Bank’s Executive Director, Northern Businesses, Hassan Imam, said, “At Fidelity Bank, we are known for facilitating transactions such as this where the impact is phenomenal and often on a national scale. We are

pleased to be associated with this project because of its potential to not only improve the lives of many small-holder farmers in Jigawa, Kano and environs but to also develop the country’s rice value chain and ensure food security.” The chief host at the wellattended event and Chairman, Gerawa Group of Companies, Isa Muhammed Gerawa stated that the establishment of the rice mill was a testimony of the efficacy of the federal government’s agricultural development policies in encouraging farming and other related activities with support from the CBN. He added that the intended 560 metric tons capacity rice mill will be completed in November 2022. The occasion was graced by the Executive Governors of Jigawa State, Mohammed Badaru Abubakar and of Kebbi State, Abubakar Atiku Bagudu; captains of industries and heads of corporate organizations.

Firstbank Rewards Customers in Visa Gold Cashback Campaign In furtherance of its appreciation of customers, whilst promoting the adoption of mobile payment solutions in the country, FirstBank is rewarding holders and customers of its branded Visa Gold card in its ongoing Visa Gold card. The promo which will have over 300 Visa Gold cardholders rewarded during the promo is scheduled to end on 25 March 2022. “Each month, the first 50 customers with an average transaction value below $150 in the last 6 months will be rewarded with 10% cashback on transactions carried out on POS and across the web. To qualify to be rewarded, the card must be used at least 3 times monthly on POS/Web

(within the campaign period) with a minimum cumulative spend of $300. The maximum transaction value for purchase cashback is $500. “In addition, the first 50 customers – monthly – with an average transaction value above $150 in the last 6 months will be rewarded with $50 when they grow their total transaction value by 50% monthly through PoS and Web payments. The maximum transaction value for purchase cashback is $300, “the bank said in a statement. “Fifty inactive Visa Gold cardholders in the last 6 months are not left out when they use their cards at least 3 times monthly on PoS and Web. With a minimum cumulative spend of $150, they

are entitled to 10% cashback on transactions. “FirstBank Visa Gold card is an international premium credit card issued in partnership with Visa International. It is Bank’s dollar-denominated card for customers in the mid-affluent segment and is accepted for payment at over 29 million locations and cash withdrawals at over 1.8 million ATMs worldwide. “The card which is accepted globally is secured with chip and PIN technology. Its transaction limit is $1,000, $10,000 and $5,000 for ATM, POS and Web respectively. It is available in the self-funded and credit variant. It is denominated in US Dollars with a life span of 3years, “it addd.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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

FRIDAY, FEBRUARY 4, 2022 ˾ T H I S D AY

MARKET NEWS

Popoola: Technology, Partnership, Others Top on NGX’s 2022 Agenda Kayode Tokede The Chief Executive Officer, Nigerian Exchange Limited (NGX), Mr. Temi Popoola, has stated that technology, partnership and sustaining the momentum it has created in its digital journey will top the NGX agenda in 2022. He stated this yesterday in Lagos while presenting the NGX’s 2021 Market Recap and Outlook for 2022.

Speaking at the event, Popoola highlighted five major areas NGX is looking to position itself as Africa’s preferred exchange hub, stating, “The Board and Management of The Exchange will first be looking to build on the momentum we have created in our digital journey over the years. When you consider the groundbreaking MTN Offer, which we facilitated in 2021, for the first time in the history

P R I C E S MAIN BOARD

F O R DEALS

of the capital market, investors could access a primary issuance in a few minutes simply from an electronic device. Of course this was not without the efforts of key stakeholders including the Securities and Exchange Commission and we are indeed grateful. The next step would be to see how we can deepen and integrate this use of technology vertically across the value chain.” In this regard, Popoola

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

QUANTITY TRADED

VALUE TRADED ( N )

indicated that the market should expect more digitized offerings or further digitization of process flows across the intermediaries accessing the market, “This is particularly important given the youthful composition of the Nigerian population who increasingly access resources online.” He stated that the NGX is working assiduously to increased listings in the market adding, “It would

T R A D E D MAIN BOARD

A S

be recalled that 2022 began with the notable listing of BUA Foods which added over N1Tn to market capitalisation at NGX. More listings are reported to be in the pipeline with a particular focus on diversifying the nature of listed companies on The Exchange. On the matter of delistings, Mr. Popoola indicated that the market should expect some of such in 2022, but rest assured that NGX is looking keenly to

O F

improve the quality of listed companies in its market.” Popoola stated, “If we look across the continent, we will find that there are very few listings in the technology sector even through the news is awash with reports of capital raising. For us at NGX, we are asking how we can be the platform of choice for Technology players to access capital and we are collaborating with other players such as the SEC in this regard.

0 3 / 0 2 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

FRIDAY, FEBRUARY 4, 2022 • T H I S D AY

Friday, February 4, 2022

Thisday Afrinvest4040Index Index 1bp Thisday Afrinvest fellGains by 14bps The dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ ϭϰďƉƐ ƚŽ ƐĞƩůĞ The Thisday Afrinvest 40 Index rose 1bp to print at

THISDAY AFRINVEST 40 INDEX

at 1,674.89ƉŽŝŶƚƐ points due sell-pressure on ZENITH (-0.6%), Ϯ͕Ϭϯϴ͘ϰϭ ŽŶ toĂĐĐŽƵŶƚ ŽĨ ďƵǇ ƉƌĞƐƐƵƌĞ ŽŶ WAPCO (-1.3%), and UBAFLOURMILLS (-0.7%). These (+1.6%), stocks cumulaDANGCEM (+5.5%), and

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

LAFARGE ;нϬ͘ϮйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ for 8.8% of the index. ASI up 11bps as DANGCEM Gains 3.3%

THISDAY AFRINVEST 40

(+9.8%), E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, (+0.7%) bol-

zĞƐƚĞƌĚĂǇ͕ ďƵůůŝƐŚ ƐĞŶƟŵĞŶƚ ƉƵƐŚĞĚ ƚŚĞ ĚŽŵĞƐƟĐ stered ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ the local bourse as the All-

ďŽƵƌƐĞ ŚŝŐŚĞƌ Ϭ͘ϵй ƚŽ ĐůŽƐĞ Ăƚ ϰϳ͕ϯϮϵ͘ϴϬ ƉŽŝŶƚƐ͕ ƐƵƉͲ index

rose

2038.41

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

WƌĞǀŝŽƵƐ ĚĂǇ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ dŚĞ ƵůůƐ ZĞŐĂŝŶ ŽŶƚƌŽů͘͘͘ ^/ ƵƉ Ϭ͘ϵй

Current Price

Ticker

ported by DANGCEM (+5.5%), OANDO (+10.0%), and 11bps to 39,550.36 points. ŽŶƐĞƋƵĞŶƚůǇ͕ zd ůŽƐƐ ŝŵͲ

UBN dŚƵƐ͕ zd ƌĞƚƵƌŶ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŝŵƉƌŽǀĞĚ ƚŽ ϭϬ͘ϴй proved;нϭ͘ϳйͿ͘ to -1.8% while ŵĂƌŬĞƚ ƌŽƐĞ ďǇ ĨƌŽŵ ϵ͘ϵй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ േϮϭϱ͘ϭďŶ േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ

5 Zenith Bank PLC 6 Dangote Cement PLC 7 Nestle Nigeria PLC

ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ The most traded stocks ĂŶĚ ϯϴ͘ϴй ƌĞƐƉĞĐƟǀĞůǇ ƚŽ ϯϰϲ͘ϳŵ ƵŶŝƚƐ ĂŶĚ േϯ͘ϴďŶ͘

33.1%

15.0%

3.5%

33.1%

14.7%

5.2%

Divindend Earnings Yield Yield

P/BV

5.4x

0.8x

5.2%

ot Applicable

1.4%

16.5%

5.2%

7.3%

0.0%

7.8%

1.5%

134.7%

14.1%

13.6x

21.0x

6.8%

5.5%

19.1%

11.2%

34.0x

6.4x

27.45

-0.9%

6.5%

5.6%

24.8%

3.9%

4.2x

1.0x

10.9%

24.1% 28.2%

2.9%

26.15

-1.3%

5.8%

4.0%

20.9%

2.8%

3.5x

0.7x

11.5%

274.80

5.4%

4.4%

6.9%

40.4%

16.7%

13.7x

5.3x

5.9%

7.3%

1,435.00

0.0%

3.1%

-7.8%

106.8%

15.6%

27.8x

32.8x

4.2%

3.6%

11.40

-0.4%

3.2%

0.0%

8.4%

0.8%

6.7x

0.6x

3.9%

14.9%

26.45

0.2%

3.4%

10.4%

11.6%

8.4%

9.9x

1.1x

3.8%

10.1%

17 Okomu Oil Palm PLC 18 Flour Mills of Nigeria PLC

ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕

9.9% 103.8% 38.3%

P/E

0.0%

11 United Bank for Africa PLC 12 Stanbic IBTC Holdings PLC

15 Ecobank Transnational Inc 16 International Brew eries PLC

0.0%

ROA

70.75

8 FBN Holdings Plc 9 Lafarge Africa PLC 10 Access Bank PLC

ƚŽ േϮϱ͘ϱƚŶ͘ sŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ϮϬ͘ϯй value

0.01%

ROE

200.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC

by volume were dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, (11.1m

1,271.00

Price Previous Price Change Current Price Change Index to Weighting Change YTD Date

10.20

0.0%

2.8%

9.7%

17.0%

1.4%

2.9x

0.5x

8.4%

35.0%

8.50

0.0%

2.2%

5.6%

19.5%

1.8%

2.1x

0.4x

6.5%

46.8%

35.00

-2.1%

1.5%

-2.8%

15.1%

2.1%

7.9x

1.2x

11.7%

12.7%

48.00

0.0%

1.4%

-4.0%

5.3%

1.9%

44.2x

2.3x

2.3%

872.10

0.0%

2.0%

34.2%

3.4%

1.9%

20.0x

0.7x

4.7%

12.10

-0.8%

1.8%

39.1%

5.85

-2.5%

1.2%

18.2%

-10.3%

-3.9%

142.00

0.0%

1.0%

0.0%

36.5%

23.3%

2.8x

9.6x

5.0% 35.9%

1.1x

-9.7%

3.2x

10.4%

29.45

1.6%

1.0%

3.9%

15.9%

4.5%

4.5x

0.7x

5.6%

22.2%

2.87

0.3%

0.7%

12.5%

13.3%

1.3%

2.2x

0.3x

7.7%

45.8%

Mixed Sector Performance

19 Fidelity Bank PLC 20 AXA Mansard Insurance PLC

2.35

0.0%

0.5%

1.3%

9.3%

3.0%

7.2x

0.7x

9.4%

13.8%

Performance within our sector coverage was mixed as

21 Dangote Sugar Refinery PLC 22 FCMB Group Plc

17.45

0.0%

0.5%

0.3%

15.3%

6.3%

11.4x

1.7x

8.6%

8.7%

3.07

-0.6%

0.4%

2.7%

10.3%

1.1%

0.3x

4.9%

ϯ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ Ϯ lost while AFR-ICT ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ͘

23 United Capital PLC 24 Guinness Nigeria PLC

11.25

0.4%

13.6%

2.5x

6.3%

48.55

0.0%

0.4%

24.5%

13.3%

6.0%

10.2x

1.3x

1.0%

9.8%

1.14

0.0%

0.4%

18.8%

11.1%

2.3%

6.0x

0.6x

0.9%

16.5%

35.6%

18.5%

5.8x

0.9x

5.0%

17.4%

2.2x

1.0% 3.0%

8.0%

E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘

Bearish Sector Performance

25 Transnational Corp of Nigeria 26 NEM Insurance PLC

The Industrial Goods and Oil & Gas indices Across sectors under our coverage, performance was

gained Ϯ͘ϳй ĂŶĚ ϭ͘ϰй ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞͲ bearish as 4 indices lost, 1 index gained ǁŚŝůĞ ƚŚĞ &Z-/ d

ĐŝĂƟŽŶ ŝŶ E' D ;нϱ͘ϱйͿ ĂŶĚ K E K ;нϭϬ͘ϬйͿ͘ ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ

Trailing, the Insurance index rose Ϭ͘Ϯй ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ er 'ŽŽĚƐ ĂŶĚ Insurance indices, down 4.6% and

ƵƉƟĐŬ

ŝŶ >/E< ^^hZ ;нϲ͘ϭйͿ ĂŶĚ KZE ^d

ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚ-ƚĂŬŝŶŐ ŝŶ E ^d> (-

3.69

0.0%

0.2%

-18.0%

27 Presco PLC 28 NASCON Allied Industries PLC

105.00

0.0%

0.3%

19.6%

13.25

0.0%

0.3%

0.4%

21.3%

6.9%

12.5x

2.5x

29 AIICO Insurance PLC 30 TotalEnergies Marketing Nigeri

0.70

-1.4%

0.2%

0.0%

7.2%

1.1%

388.9x

0.7x

241.00

0.0%

0.2%

8.6%

48.0%

9.5%

4.9x

2.0x

1.7%

20.4%

31 Custodian and Allied Insurance 32 Vitafoam Nigeria PLC 33 Unilever Nigeria PLC

(+1.8%). ŽŶǀĞƌƐĞůǇ͕ (-3.5%), ƚŚĞ ĂŶŬŝŶŐ and Consumer 9.1%), hE/> s Z >/E< ^^hZ (-6.4%),

34 Julius Berger Nigeria PLC 35 Union Bank of Nigeria PLC

Goods ŝŶĚŝĐĞƐ ƐŚĞĚ Ϭ͘ϱй ĂŶĚ Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ and D E^ Z (-Ϯ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

36 Oando PLC 37 Wema Bank PLC

sell-ŽīƐ ŝŶ fell E/d, (-ϭ͘ϯйͿ͕ d/ ;-Ϭ͘ϴйͿ͕ /Ed Z t ;ing indices by Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůů-

38 Sterling Bank PLC 39 Notore Chemical Industries Ltd

ŽīƐ ŝŶ K E K (-0.8%), E/d, (-Ϭ͘ϮйͿ͕ ĂŶĚ 'd K ;-Ϭ͘ϮйͿ͘ Ϯ͘ϱйͿ͕ ĂŶĚ , DW/KE ;-8.7%).

40 Transcorp Hotels Plc

ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ er,

1.8%

driven

price

apprecia-

Ticker

Investor ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕

ƟŽŶ in E' D (+3.3%).

ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϭǆ ĨƌŽŵ Ϭ͘Ϯǆ ĂƐ Ϯϯ ƐƚŽĐŬƐ ŐĂŝŶĞĚ͕ ϭϵ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

lost while 63 were unchanged. In today͛s trading ses/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

ƐŝŽŶ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ƉŽƐŝƟǀĞ ƐĞŶƟŵĞŶƚ ƚŽ ůŝŶŐĞƌ͘

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ 1.6x

ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ stocks advanced while 15 stocks declined. MRS (+9.9%), MAY-

0.0%

0.2%

0.0%

19.5%

5.5%

4.6x

0.9x

7.0%

21.5%

0.0%

0.2%

8.4%

38.7%

16.0%

6.3x

2.2x

6.3%

16.0%

13.75

0.0%

0.2%

-5.2%

7.8%

4.9%

30.5x

1.2x

26.00

0.0%

0.2%

16.3%

18.9%

2.4%

3.9x

0.8x

1.5%

25.5%

4.2%

6.05

1.7%

0.1%

2.5%

7.1%

0.8%

6.8x

0.7x

5.17

10.0%

0.0%

17.0%

14.5%

2.6%

2.2x

0.3x

0.0%

0.1%

18.1%

14.1%

0.8%

3.7x

0.5x

4.7%

27.1%

0.0%

0.1%

13.9%

9.4%

0.9%

2.2x

0.4x

2.9%

44.5%

62.50

0.0%

0.1%

0.0%

-41.3%

-9.2%

5.38

0.0%

Price Chg %

TRANSCORP

32.1

2.6%

FIDELITYBK

25.2

1.4%

9.6%

ACCESS

23.5

4.5%

9.1%

GTCO

21.1

4.1%

105.00

8.8%

NGXGROUP

20.5

5.4%

0.38

8.6%

SOVRENINS

16.8

4.3%

16.2

0.0%

869.00

10.0%

CONOIL

24.10

9.8%

ACADEMY

1.03

RTBRISCOE

0.24

FTNCOCOA

Ticker

FIDSON

8.29

7.7%

CHAMS

UPL

2.58

7.5%

ZENITHBANK

12.7

5.0%

12.4

-1.1%

12.4

-1.3%

WAPCO

27.00

5.5%

WEMABANK

NGXGROUP

24.50

5.4%

FBNH

Top 10 Trades by Value

Top 10 Losers Price

CAVERTON

1.62

Price Chg %

Ticker

Value

-9.5%

GTCO

587.3

4.1%

NGXGROUP

502.5

5.4%

ZENITHBANK

340.9

5.0%

SEPLAT

339.7

10.0%

ETERNA

5.45

-9.2%

ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ earnings season

NCR

3.00

-9.1%

JAPAULGOLD ETI

0.37

-7.5%

11.60

-7.2%

UPDCREIT

3.60

-6.5%

GLAXOSMITH

6.05

-5.5%

LASACO

1.00

-2.9%

CUTIX

2.34

-2.9%

NEIMETH

Afrinvest West Africa Limited

-20.3%

Volum e

STOCK (-4.8%) led losers. Previous day, we expect the

gradually winds up.

2.3x 0.9x

Top 10 Trades by Volume

SEPLAT

Ticker

14.7% 44.9%

0.85

Price Chg %

PRESCO

3.3%

1.72

Price

BAKER (+9.8%), and HONYFLOUR (+9.8%) led gainers while ABCTRANS (-8.3%), LASACO (-6.7%), and LIVE-

7.90 24.40

Top 10 Gainers

Outlook

0.3%

1.85

-2.6%

Price Chg %

MTNN

292.7

2.5%

ACCESS

238.3

4.5%

WAPCO

208.9

5.5%

PRESCO

201.4

8.8%

FBNH

142.6

-1.3%

95.2

2.3%

UBA

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

FRIDAY, FEBRUARY 4, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 2-Feb-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.75% Anchoria Equity Fund 145.21 147.04 3.22% Anchoria Fixed Income Fund 1.17 1.17 2.78% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.94 21.57 3.21% ARM Discovery Balanced Fund 473.02 487.28 4.84% ARM Ethical Fund 39.30 40.48 0.88% ARM Eurobond Fund ($) 1.08 1.09 0.16% ARM Fixed Income Fund 1.02 1.02 0.50% ARM Money Market Fund 1.00 1.00 8.56% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel: 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 108.55 108.55 6.73% AVA GAM Fixed Income Naira Fund 1,077.85 1,077.85 7.79% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 9.21% Capital Express Balanced Fund (Formerly: Union Trustees Mixed Fund) 2.24 2.29 29.75% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.35% Paramount Equity Fund 18.47 18.80 9.75% Women's Investment Fund 145.72 147.34 4.78% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.28% Cordros Milestone Fund 137.61 138.51 4.10% 110.94 110.94 0.45% Cordros Dollar Fund ($) CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 7.22% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 7.89% EDC Nigeria Fixed Income Fund 1,141.45 1,144.49 -2.41% assetmanagement@emergingafricafroup.com EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn 1,409.00 FBN Bond Fund 1,409.00 11.06% 181.48 FBN Balanced Fund 182.80 3.55% 116.61 FBN Halal Fund 116.61 8.86% 100.00 FBN Money Market Fund 100.00 9.09% FBN Dollar Fund (Retail) FBN Nigeria Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

122.60 153.50

122.60 3.85% 155.54 1.97% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.99 1.81 1.21

Offer Price Yield / T-Rtn 1.00 7.67% 3.99 -0.27% 1.84 3.96% 1.21 0.40% coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.08% Vantage Balanced Fund 2.91 2.97 1.76% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 142.39 142.45 -8.49% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.33 1.88% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 4.04% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.46 12.58 5.81% Meristem Money Market Fund 10.00 10.00 9.88% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 100.77 100.78 8.24% Norrenberger Money Market Fund (NMMF) 100.00 100.00 9.19% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.63 1.65 1.16% PACAM Fixed Income Fund 11.55 11.53 3.11% PACAM Money Market Fund 10.00 10.00 7.38% PACAM Equity Fund 1.49 1.50 3.12% PACAM EuroBond Fund 114.76 117.11 -0.44% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 129.72 132.17 6.73% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.08 1.08 10.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,507.59 3,545.27 1.86% Stanbic IBTC Bond Fund 236.40 236.40 0.28% Stanbic IBTC Ethical Fund 1.33 1.35 3.08% Stanbic IBTC Guaranteed Investment Fund 314.66 314.66 0.42% Stanbic IBTC Iman Fund 244.97 248.61 1.18% Stanbic IBTC Money Market Fund 100.00 100.00 6.84% Stanbic IBTC Nigerian Equity Fund 11,323.88 11,482.27 1.93% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.37% Stanbic IBTC Shariah Fixed Income Fund 117.29 117.29 0.27% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 107.21 107.21 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.96 0.98 3.31% United Capital Balanced Fund 1.42 1.44 3.98% United Capital Wealth for Women Fund 1.13 1.15 4.25% United Capital Sukuk Fund 1.08 1.08 0.68% United Capital Fixed Income Fund 1.97 1.97 0.62% United Capital Eurobond Fund 122.93 122.93 0.48% United Capital Money Market Fund 1.00 1.00 8.20% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.40 13.52 1.60% Zenith ESG Impact Fund 15.19 15.35 3.93% Zenith Income Fund 22.21 22.21 1.03% Zenith Money Market Fund 1.00 1.00 6.75%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.65

10.62% 8.10%

Bid Price

Offer Price

Yield / T-Rtn

13.71 134.83 106.03 19.61 22.99

13.81 138.21 108.36 19.71 23.09

-1.80% 2.45% 2.32% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.40 5.71 18.37 1.00 20.71 160.80

4.50 5.81 18.57 1.00 20.91 162.80

16.68% 12.00% 6.91% 0.00% 6.76% 1.91%

NAV Per Share

Yield / T-Rtn

107.28

10.80%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

FRIDAY FEBRUARY 4, 2022 •T H I S D AY

FRIDAY FEBRUARY 4, 2022 • T H I S D AY

FRIDAY, JANUARY 28, 2022 ˾ T H I S D AY

ANALYSIS

Between Recalcitrant Debtors and Financial System Stability Nosa Alekhuogie writes on the need to rein in on recalcitrant debtors so as to prevent damage on the financial system

here is a growing concern about the impunity which some bank customers default on their loans. Although while some borrowers may have genuine reasons for not honouring their repayment obligations, some others persons, mostly well-known businessmen and some self-acclaimed billionaires deliberately take these loans with the intention not to repay from the onset. Some persons in this category are in the habit of moving from one bank to another seeking for loans, with a deliberate plan not to repay. Clearly, this could trigger serial defaults and a build-up of non-performing loans (NPLs) which can negatively impact financial system liquidity and ultimately hamper its stability. The inability to manage loans, which make up the largest share of banks’ assets, can also lead to high levels of NPLs and erode confidence in the financial system. In fact, excessive NPLs was a major factor that weakened a lot of banks in the 90s as well as during the reign of Mallam Sanusi Lamido as Governor of the Central Bank of Nigeria (CBN), which even led to the creation of the Asset Management Corporation of Nigeria (AMCON) to clean up the system. Thereafter, the regulatory authority also restrained banks from granting further credit to potential borrowers with unserviced facility exceeding a certain amount or any amount of delinquent facility that was taken over by AMCON. Precisely, to clean up the mess in the sector then and revive some of the banks, the Sanusi-led CBN had to inject about N700 billion in a bailout exercise as well as removed some bank chief executives who were deemed to be irresponsible. To further buttress the damage recalcitrant debtors were causing to the system, the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani, recently disclosed that high net worth Nigerians had been frustrating debt recovery operations of the AMCON valued at N4.4 trillion. He stated that 350 people were responsible for 83 per cent of the debt AMCON had been trying to recover. Sani had said: “From the N4.4 trillion we are trying to recover, about 350 people in this country are responsible. This is about 83 per cent of the debt. “This is very worrisome. This means that powerful Nigerians are the ones not willing to pay these loans. They have been employing different strategies and tactics to stall the repayment of loans running into trillions of naira. “A lot of highly placed Nigerians are not willing to support AMCON because most of those people are the ones that have taken this money from the banks and of course you know the government came in to set up Amcon to safe banks from getting down. “But unfortunately, from what is happening, AMCON is finding it very difficult because those people are highly placed Nigerians, they try to frustrate AMCON’s effort through the judiciary and that is what we are looking.” Most times these cases drag for long because of the country’s weak judicial system. An example, is the ongoing legal battle between AMCON and Jimoh Ibrahim, who is the Chairman of Global Fleet Group, over debts valued at N69.4 billion. There is also an ongoing legal tussle between Ecobank Nigeria Limited and a Lagos- businessman, Mr. Victor Osibodu and his company, Vigeo Limited, over an alleged N8,701,770,328.83 debt, which is before the federal high court, sitting in Lagos. The defunct Diamond Bank Plc, an iconic bank comparable to Eastern Nigeria’s African Continental Bank (ACB) almost went under due to recalcitrant borrowers before its acquisition by Access Bank Plc. Clearly, these scenarios which are capable of dampening confidence in the system is what Access Bank Plc trying to avoid, which has seen the bank being aggressive in its debt recovery as it relates to the Estate of the late Chief Sunny Odogwu, and his related companies. While it is not in dispute that a facility was taken from the bank to finance a hotel project at 31-35, Ikoyi Crescent, Ikoyi, Lagos, the said

CBN Governor, Godwin Emefiele facility is yet to be repaid. The impression being created by the Estate of the late Chief Odogwu and his related companies that they can take depositors funds to finance projects and rather than repay such funds, they would make false claims to the ownership of the assets of the debtors as inheritance to be shared is a vivid reminder of the era of failed banks in the country. Unfortunately for the Estate of the late Sunny Odogwu and his related companies, the facts of the matter, terms of the loans and the dispute has been litigated and pronounced upon by the Federal High Court and the Odogwu Family had the opportunity to present their own side of the story which they did before Hon. Justice Saliu Saidu of the Lagos Division of the Federal High Court in suit number: FHC/L/CS/1633/14, in November 3, 2015. Delivering judgment in the suit, Hon. Justice Saidu held that the first to third defendants were in fundamental breach of the contract for the financing of the construction of the Luxury Collection Hotels and Apartments, having admitted, “Indebtedness to the plaintiff in the sum of N10, 252,315,567.28 on the project finance facility as at December 20, 2011.” Additionally, the judge held that the first to third defendants have not produced before the court any evidence that any of the conditions for the grant of the facility was waived or demonstrated to the court how they liquidated their indebtedness. His words: “With all the facts before me, I am satisfied that the first to third defendants who have admitted indebtedness has not shown how the indebtedness was liquidated. “Judgment is entered in the sum of N26, 229,943,035.22 jointly and severally against the 1st to 3rd defendants being the outstanding sum as at September 30, 2014 advanced by the plaintiff for the 1st to 3rd defendants’ project which sum has remained unpaid despite several demands. “That leave is granted to the plaintiff to

foreclose and sell the said property situated at 31-35 Ikoyi Crescent, Ikoyi, Lagos and to deposit the proceed of the sales into the 1st defendant’s account kept with the plaintiff towards the partial satisfaction of the judgment sum against the 1st to 3rd defendants.” It was against this background that the Estate of the Late Odogwu entered into a settlement agreement in May 2019 on the matter. The key parts of the settlement included the following: “The defendants (the Estate of the late Sunny Odogwu and his related companies) agreed to sell a property described therein as the (Berendo Property”) in Los Angeles and to pay the sum of $11,111,111.11 within 60 days from the date of the settlement agreement to the Bank, failing which, the ownership of the Berendo property was to be assigned to the bank, and the defendants also agreed with the bank in satisfaction of the outstanding settlement amount after receipt of the net proceeds of the sale from the Berendo property to assign such additional properties directly to the bank by way of an agreed asset swap arrangement subject to the terms of this settlement agreement.” Also, the defendants agreed to provide the bank with all the original documents pertaining to certain properties after the execution of the settlement agreement and undertook to execute and provide all documents required to perfect the legal interest of the Bank in such properties and also perfect the asset swap for the purpose of liquidating the outstanding settlement amount with the bank and shall provide such warranties and representations including without limitation, clean, undisputable and unencumbered title with quiet and peaceful possession. All these shall be achieved within seven days from the date on the settlement agreement. Furthermore, the defendants failed to

facilitate/conclude the sale of the Berendo property, hence the sum of $11,111,111.11 has not been received by the bank in line with the settlement agreement. Consequently, the defendants have failed and refused to assign the Berendo property in Los Angeles to the Bank. Rather, the defendants compromised the property at Los Angeles without paying the agreed sum to the bank. Also, the defendants refused to hand over the Dubai property to the bank in line with the settlement agreement and have refused to grant vacant possession to the properties at Kirikiri as well as the Dubai property till date in line with the settlement agreement. Instead of repaying the debt in line with the settlement terms, the Estate of the late Sunny Odogwu has opted for assets stripping. Recalcitrant debtors negatively impact the critical banking sector and defeat the essence of granting such facilities to aid business growth. Even though its recent amendment of its Global Standing Instruction (GSI) to allow for continuous and unrestricted loan recovery by banks showed that the Central Bank of Nigeria is also concerned about the activities of serial loan defaulters, the regulator must find ways to assist banks in their debt recovery drive. The GSI creates a contractual mandate from an individual borrower, in favour of a creditor bank to apply monies standing to the credit of the borrower in a third-party financial institution or electronic wallet to offset the debt obligations of the borrower. It helps to facilitate improved credit repayment culture. The CBN had explained that in effect, the GSI’s automated loan recovery feature, applicable to all loans in the industry, shall remain perpetually in place throughout the life of the loan and/or until the loan is fully repaid. But the apex bank, in furtherance of its mandate to promote financial stability, must take greater steps in assisting banks in their debt recovery drive. The central bank also need to put in place policies that would ensure that bad borrowers are punished. This will go a long in preserving the health of our financial institutions

FRIDAY, FEBRUARY 4, 2022 • T H I S D AY

NEWS

OGUN HEALTH INSURANCE SCHEME FOR INFORMAL SECTOR... L-R: Ogun State Deputy Governor, Noimot Salako-Oyedele; Governor Dapo Abiodun, Executive Secretary, National Health Insurance Scheme, Prof Nasir Sambo; Ogun State Commissioner for Health, Dr. Tomi Coker and the ﬁrst beneﬁciary of the State Basic Healthcare Provision Fund Programne and Ogun State Informal Health Insurance Scheme, Mrs. Kafaya Yekini, during the launch of the programme at the June 12 Cultural Center, Kuto, Abeokuta...yesterday

Downstream Authority Decries Poor State of Petroleum Storage Facilities in Lagos Peter Uzoho The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has lamented the decrepit state of petroleum products storage facilities in Apapa, Lagos, calling for their urgent upgrade to meet industry standard. The Chief Executive Officer of NMDPRA, Mr. Farouk Ahmed, expressed the concern yesterday during an inspection tour of some petroleum products storage facilities operated by the Nigerian National Petroleum Company Limited (NNPC) and oil marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN). Ahmed said most of the facilities had not been upgraded in the last 25 years, adding that a lot of rehabilitation work needed to be done to upgrade them. He maintained that such rehabilitation and upgrade would help to enhance safety and smooth

distribution of petroleum products across the country. "There have been a lot of complaints about the facilities being dilapidated and need some upgrade for efficient delivery of petroleum products. "There is a lot of work to be done to upgrade these facilities. We went round some of the marketers’ facilities and we saw

that most of them have not been upgraded in 20 to 25 years", he said. Accompanied by NNPC's Group Executive Director, Downstream, Mr. Adeyemi Adetunji, and some MOMAN members, the NMDPRA boss inspected the storage facilities of Ardova Plc, TotalEnergies Plc, and that of OVH Energy

Marketing Company. Describing Lagos as one of the key areas through which Nigeria receives imports of petroleum products, Ahmed noted that Apapa was also one of the major facilities for offloading of vessels and trucking out petroleum products to other parts of the country. He said the visit was in line

"So, it is very good to see the upgrade in those areas but generally speaking, the jetty needs a lot of work to be done in order to meet up with the new safety requirements." Ahmed, however, assured that the authority would be having quarterly meetings with the marketers to review areas of concern that require improvement.

Afreximbank’s Fund for Export Devt in Africa Promotes LNG Distribution in W’Africa The Fund for Export Development in Africa (FEDA), a development impact-oriented subsidiary of African Export-Import Bank (Afreximbank), has announced that it has invested into EcowGas B.V. (Ecowgas), a Liquefied Natural Gas (LNG) distribution infrastructure platform in West

Africa. Due to limited power supply from the grid, the industrial sector in Africa suffers severe energy shortages with attendant high production costs, inneficient operations and reduced global competitiveness, amongst others. According to a statement,

off-grid solutions are required to address these challenges and put Africa firmly on the path to energy sustainability. “FEDA’s investment in EcowGas will support the creation, in partnership with a leading international oil company, of the infrastructure to provide access

Z U L U M : W E M U ST D E F E AT I SWA P AT A L L C O ST E L S E B ’ H A R A M W I L L B E C H I L D ’S P L AY THISDAY on telephone, said village. They were shooting PDP Shades APC over whitewash itself by sending the hoodlums also injured six sporadically. In fact, according Claim, Says It's Even Mohammed, whose stockpersons and kidnapped scores, to the DPO, they gathered almost in-trade was well known to Struggling to Lie including children and elderly everybody in that village. assault the sensibilities of women. Usman said, "The terrorists attacked Daddaran-Liman in the early hours of today (Thursday) and killed Magaji Yan-Gayya, his house help, Mansir Danye, and four people. They also kidnapped many people, including children." He explained that an armoured personnel carrier belonging to the Nigeria Police, which was deployed to the community to repel the terrorists' invasion "developed technical problem and couldn't serve the purpose." But the state Police Public Relations Officer, Gambo Isah, while confirming the incident to THISDAY, said the hoodlums, armed with sophisticated weapons, killed five people. Isah added that the criminals kidnapped almost everybody in the community but police operatives engaged them in a gun duel and rescued "all the abductees on the spot". Isah, a superintendent of police, said, "Yesterday (Wednesday) around 2300hrs, terrorists in large number with AK-47 rifles attacked Daddara

with the agency's oversight responsibility to see the reality on ground, pointing out that some marketers were already upgrading their facilities. According to him, "There are a lot of expansion projects going on in terms of storage facilities for petroleum products and Liquefied Petroleum Gas (LPG), as well as truck out facilities.

"But our men engaged the terrorists in a gun duel and they were able to rescue all the people. When they scanned the area, they discovered that five people were killed and six persons were taken to the hospital injured. Those killed include the Magaji Yan-Gayya." He noted that terrorists, under the camp of Dan-Karami and other criminal gangs, had migrated to the state as a result of the on-going military operations in Sokoto, Zamfara and Kebbi. According to him, "What is happening presently in Katsina is as a result of on-going operations in Sokoto, Zamfara and Kebbi states. These terrorists have been down to Katsina because that place is too hot for them. "Like the camp of Dan-Karami, some groups of Bello Turji are presently in Jibia. So, that is the issue we are having now. I believe a combined operation of military and other security organisations is in the pipeline with a view to tackling the hoodlums."

The leadership of the Peoples Democratic Party (PDP), yesterday, described the claims by the Minister of Information and Orientation, Alhaji Lai Mohammed that the federal government had discovered sponsors of terrorism in the country as part of President Muhammadu Buhari-led All Progressives Congress (APC) administration as shameless lies from barefaced thieves, who had pawned their souls to the devil. The PDP, which shaded the APC, had reacted to the claims by the minister that the APC government had uncovered 96 sponsors of terrorism and arrested 45 persons confirmed to be terrorists adding that the government was even struggling to lie. According to a late night statement by the National Publicity Secretary of the opposition party, Debo Oligunagba, the PD position was predicated on what it described as desperate attempt by the Buhari administration to

Nigerians with litany of fake claims on anti-corruption and anti-terrorism fight, when in reality the administration was sinking deeper into the abyss of failure on such planks. The PDP said the APC administration was unsettled by the Transparency International (TI) Report, which ranked Nigeria under Buhari as the second most corrupt country in West Africa and 154 out of 180 in Global Corruption Index, given APC’s humongous corruption,including the exposed looting of over N16 trillion public funds by APC leaders and their cronies in government. "In its ludicrous anti-corruption scorecard, the APC government has no response to the reported looting of $25 billion under its watch as detailed in the Nigeria National Petroleum Corporation (NNPC) leaked memo under its watch. "The APC government should give answers to the reported stealing of N165 billion in the Nigeria Ports Authority (NPA), the N1.5 trillion and $9.5 million

to cheaper and cleaner fuels for underserved industrial customers across the region using LNG. This will also promote efforts to minimise CO2 emission by replacing environment-polluting fuels currently in use,” it added. President and Chairman of the Board of Directors of Afreximbank,

reportedly stolen from Nigerian Maritime Administration and Safety Agency (NIMASA), the $65 million frittered from the Federal Mortgage Bank of Nigeria (FMBN) as well as the N90 billion reportedly looted from the Federal Inland Revenue Service (FIRS). "This is in addition to the reported looting of N33 billion from the National Emergency Management Agency (NEMA), the reported stealing of over N18 billion from the rehabilitation of IDPs in the North East, the over N25 billion from the National Health Insurance Scheme (NHIS) as well as the looting of N500 billon Social Investment Programme Fund as revealed by the First Lady, Aisha Buhari, among others," the main opposition party said. Furthermore, the PDP said in the very pathetic attempt to conceal the apparent complicity of the APC in the advent and continuing insecurity in the country, the minister laboured strenuously and claimed that the APC government had uncovered 96 sponsors of terrorism and arrested 45 persons confirmed to be terrorists.

Prof. Benedict Oramah, noted that, “FEDA’s investment in Ecow-Gas is a testament to its mission of providing development equity capital to sectors critical to the growth and development of intraAfrican trade, export development and industrialisation. “Through this investment, FEDA is seeking to unlock access to affordable and cleaner energy for industrialisation purposes and to significantly impact intra-regional trade, especially in the West Africa region.” On his part, the Acting Chief Executive Officer, FEDA , Emmanuel Assiak, added: “We are delighted to partner with experienced operators and investors on this missioncritical opportunity to unlock the provision of cheaper and cleaner fuel in West Africa. “The combined complementary skills and capabilities within the Ecow-Gas platform stakeholders will help enable the company to execute its growth plans. We believe that EcowGas will help to significantly remove the energy supply and cost bottlenecks that negatively impact the competitiveness of the region as a manufacturing destination.” FEDA pursues a multi-sector investment strategy along the intra-African trade, valueadded export development and manufacturing value chains which includes financial services, technology, consumer and retail goods, manufacturing, transport & logistics, agribusiness, as well as ancillary trade enabling infrastructure such as industrial parks, in Afreximbank’s member states.

FRIDAY, FEBRUARY 4, 2022 • T H I S D AY

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ANOTHER DEFECTOR RECEIVED INTO THE APC… L-R: APC Caretaker Chairman and Governor of Yobe State, Mai Mala Buni; President Muhammadu Buhari; the new member of the party, Senate Deputy Minority Leader, Senator Emmanuel Bwacha, and Chief of Staﬀ to the President Prof. Ibrahim Gambari, during the presentation of the Senator who defected into the APC from the PDP at the State House Abuja... yesterday

FG Inaugurates Committee to Investigate Privatised Paper Mills Dike Onwuamaeze The federal government has set up a committee that would investigate the remote and immediate causes of the collapse of the privatised paper mills in the country with a view to finding lasting solutions for their revitalisation. This was disclosed yesterday in Lagos, by the Director, Industrial Development Department, Federal Ministry of Industry, Trade and Investment (FMITI), Mr. Adewale R. Bakare, in his goodwill message at a one-day national workshop organised by the Lagos Chamber of Commerce and Industry (LCCI) in collaboration with the Raw Materials Research and Development Council of Nigeria (RMRDC). The theme of the workshop was: “Challenges, Prospects and Raw Materials Demand in the Printing, Packaging and Publishing Industry." Bakare, who was represented by an Assistant Director, Industry Development Department, FMITI, Mrs. Ajayi-Ade Olumuyiwa, said the investigation of the privatised paper mills was part of the government’s effort to combat the deteriorating situation in the pulp and paper sector of the economy. He said: “The federal government, through the FMITI, is currently working towards the resuscitation and strategic development of the sector by setting up an Inter-Agency Committee (IAC), which was mandated to investigate the remote and immediate causes of the collapse of the privatised paper mills and find lasting solutions for their revitalisation with a view to coming up with a sector specific policy. “The government is optimistic that with the implementation of the sectoral policy, the pulp and paper industry will be repositioned to be one of the foremost sectors to drive the economic recovery of the nation thereby creating massive employment opportunities and revenue generation along all its extensive value chains.” The Director General of the RMRDC, Professor Hussaini D. Ibrahim, who is also a member of the IAC, said in his goodwill

message that only the Nigerian Paper Mill in Jebba is presently operational after the paper mills companies were privatised in 2006. The other companies that were privatised were the Nigeria Newsprint Manufacturing Company, Oku Iboku, and the Iwopin Pulp and Paper Company, Iwopin. Nigeria currently produce only 240,000 tonnes of paper locally, which is a far cry from the country’s annual need of 3 million metric tonnes per year. Ibrahim, who was represented by a Director at RMRDC, Mr. Ogunwusi Abimbola Adesanya, said the effect of these deficiencies were reflected in import trade figures for paper, paperboard and art paper. He said: “According to COMTRADE database on international trade (2022), Nigeria import of these items (paper) in 2020 alone was $696 million… In exact terms, importation of paper and paper products in Nigeria has compromised over 300,000 jobs that would have been available for Nigerians. “Hope is still far from the horizon as the remnant of surviving local paper manufacturers are still contending with issues of obsolete and vandalised equipment, inability to access funds and monumentally dilapidated public infrastructure.” The keynote speaker during the workshop, Prof. Abiodum Oluwafemi Oluwadare, of the Faculty of Renewable Natural Resources, Department of Forest Production and Products, University of Ibadan, said Nigeria could make more money exporting paper than from crude oil. He said: “A kilogram of oil will cost 53 cents while pulp will cost 86 cents. Paper is more expensive than oil and I can prove it anywhere any day anytime.” The President of the LCCI, Dr. Michael Oluwale-Cole, in his welcome address, noted that according to the National Bureau of Statistics’ foreign trade report for third quarter 2021, Nigeria spent N410 billion on importation of paper making material, paper and paperboard articles from January to

September 2021. Oluwale-Cole said: “The country export of N1.3 billion during the same period implies that huge scarce foreign exchange is being expended on importation of materials that could be produced locally.”

The Chairperson of Pulp Paper and Paper Products, Printing and Publishing, LCCI, Ms. Funmilayo Bakare Okeowa, said the paper sector was very important to national economy and educational well-being of Nigerians.

She said: “The industry without doubt is grappling with lots of challenges, which affect the smooth running of the day-to-day activities of the sector. “To begin with is the high cost of paper; in which

various factors come into play to influence the increment of paper prices. Such factors include electricity supply and fuel cost, paper mill closures, and also increased demands for tissue papers at home shifted production priorities.”

Bwacha: I Moved to APC for Taking Care of My People's Needs in Taraba Buhari welcomes PDP defector Deji Elumoye in Abuja The Senate Deputy Minority Leader, Senator Emmanuel Bwacha (PDP Taraba South), has justified his defection to the ruling All Progressives Congress (APC) saying the party took care of his people's needs in Taraba State. This is just as President Muhammadu Buhari yesterday welcomed the ranking Senator to the APC at a brief ceremony at the State House, Abuja. Speaking with newsmen after being presented to Buhari by the party's National Caretaker Committee Chairman, Mai

Mala Buni, Bwacha, stressed that the APC administration, under Buhari, had touched the lives of the people of his senatorial district, meeting their age long needs. He said “I choose the APC because I know from the home front that is where there will be a level playing ground, number one. Then number two, the Ibi Bridge, which had been awarded and work is ongoing, was awarded under President Muhammadu Buhari, nobody from my senatorial district is not happy about this project, because this has been our cry since the colonial days.

“Also, under his watch, the Kashimbila Dam project had been completed. So, I had to answer to the calls of my constituents to join this party and redefine the narrative in Taraba State and restore its lost glory. “Going forward, I am calling on all and sundry to join forces together so that we can build a better Taraba, where governance will be seen as the hope of the people and where development of infrastructure will be a key priority”, he said. On his part the, Buni, who is also governor of Yobe State, said the party deemed it fit to deliver the new entrant into the party

to the President, considering his status in the legislature. “We just brought in our newest member of the party, the All Progressives Congress, the person of Senator Emmanuel Bwacha, for Mr. President to formally receive him into the party, and that is what we have just done. Asked how the President received Bwacha, Buni said “he was happy and delighted. You know, a ranking Senator like Senator Emmanuel Bwacha joining APC from Taraba, you know, it speaks for itself”. Earlier, President Buhari welcomed Bwacha, into the APC.

Court Dismisses Preliminary Objection by Saipem, Others in Alleged $130m Fraud Blessing Ibunge in Port Harcourt Rivers State High Court sitting in Port Harcourt has dismissed preliminary objection filed by Saipem Contracting Nigeria Limited and others, on the jurisdiction of the court to entertain an alleged $130million fraud case against it by Rivers State government. The state government had sued Saipem SPA, Saipem Contracting Nigeria Limited, Mr. Walter Peviana and four other defendants over an alleged conspiracy to cheat and with intent to defraud it the sum of $130 million being advanced payment for the construction of the OCGT power plant in Port Harcourt.

At the hearing of the matter yesterday, counsel for Saipem SPA (first defendant), Saipem Contracting Nigeria Limited (second defendant), Mr. Walter Peviana (third defendant) and Vitto Testaguzza (6th defendant), Odein Ajumogobia, presented a preliminary objection application, arguing that the court lacked jurisdiction to hear the case. Ajumogobia stated that the purpose of the application was to stop a process he said was, "abusive, intimidating and did not follow the rules of law." According to Ajumogobia, the prosecution failed to include the statements of the defendants in the processes, hence, "rob the court the right to continue hearing on the

matter." The defendants counsel noted that as a criminal matter there was no evidence of police investigation on the charges against his clients. Ajumogobia said the prosecution should provide evidence to show that his clients were linked to the alleged crime. He prayed the court to rule in his clients’ favour, adding that his application should be granted on non-compliance to due process of law. Arguing on the submission by the defendants, counsel for the Rivers State Government (prosecution), Godwin Obla, stated that haven obtained bail for the defendants and the mere presence of the defendants in the suit has contaminated the

preliminary objection application. The state objected to the preliminary objection by the defendants’ counsel and urged the court to dismiss the application. Ruling on the application by the defendants’ counsel, the trial judge, Justice Okogbule Gbasam, noted that they were facing trial on 16 counts charge filed by the State on November 19, 2021. Noting the preliminary objection application by the counsel, the Judge stated that the prosecution also filed a counter affidavit opposing the defendants application. According to the ruling by Justice Gbasam, the court jurisdiction was upheld by the information filed on November 19.

FRIDAY, FEBRUARY 4, 2022 • T H I S D AY

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STANDING UP AGAINST RAPE… L-R: Programs Manager Stand To End Rape Initiative, Mr. Akom Ita Nya; Ms. Faith Adeniyi; Acting High Commissioner of Canada to Nigeria, Mr. Kevin Tokar; Executive Director Stand To End Rape Initiative (STER), Oluwaseun Ayodeji; Canada Conseillere Aﬀairs Politique, Andrew Webb; during the partnership signing between STER and the High Commission of Canada to Nigeria in Abuja ...yesterday

2023: PDP Yet to Take a Decision on Zoning Presidency, Nwodo Insists Adedayo Akinwale in Abuja A former National Chairman of the Peoples Democratic Party (PDP), Dr Okweziliese Nwodo, has insisted that the main opposition party was yet to take decision on the zoning of the presidency ahead of the 2023 elections. The PDP leadership had yesterday said its presidential ticket was open to all the six geopolitical zones of the country. Deputy National Publicity Secretary of PDP, Abdullahi Ibrahim, had reportedly told Northern Advocate for Good Governance (NAFGG), that, “The new National Working Committee (NWC) under the leadership of Senator Iyorchia Ayu has already resolved this is exactly what it would pursue as an objective in ensuring that the six geopolitical zones of Nigeria were given equal opportunity to bid for the available offices to rescue and rebuild Nigeria." But, speaking on the Good Morning Show" on ARISE News Channel, yesterday, Nwodo insisted that the party had not taken decision on where it would zone its presidential ticket, saying what is happening at the moment is that every group that wishes to present a presidential candidate is making their case. The PDP Chieftain recalled that during the Abacha regime, the constitution conference of 1995, which he was part of, proposed that there would be rotational presidency between the North and the South. He added that the draft constitution proposed two vice president, stressing that if these provisions were not taken out when the 1999 constitution was drafted, there wouldn't have been any need for doctrine of necessity, when former President Musa Yar'dua died, because the vice

president from the zone that the president came from would have stepped in as a president. Nwodo stated that, "As we speak now, the PDP has not taken a decision on where the president will come from with regards to our nomination. You will recall that when we did our last national convention, we zoned just for the party offices and we didn't zone for the elective offices at the

executive level. "Now, we are still going to set up a zoning committee, when we get to that stage, we will look at the zoning. What is happening now is that every group that wishes to present a presidential candidate is making their case." Nwodo stressed that the constitution of the party stated that there should be zoning and rotation of political offices,

adding that the opposition party, has obeyed it to a large extent,when PDP was formed. He added that if rotational president had been captured in the constitution, the debate about zoning wouldn't have come up, because it would have been a constitutional matter signed, sealed and delivered. "I believe that the tradition that has been set in place,

where we are all agreed that the presidency should take between the North and the South. The arguments that have been made now are being made by people who do not want to face the truth. Yes! We have a sitting President from the North, soon to complete 8 years. "Is it fair that the north will continue for another eight years? Definitely not.

Now, what happened when Umaru Yar'dua died was not contrived by anybody. It was not even in force by our constitution, that's why we have to fall into the doctrine of necessity. But having done that since all that situation, we should continue with our North/South rotation of the presidency for unity, for fairness, for equity in our country."

Herdsmen Attacks Has Left 80 Per Cent of Children as School Dropouts, Says Benue Govt George Okoh in Makurdi Attacks by Fulani herdsmen in Benue Communities have left at least, 80 per cent of children in those areas as school dropouts. Executive Secretary of the

State Emergency Management Agency (SEMA), Dr. Emmanuel Shior, disclosed this yesterday during the distribution of relief materials to over 1.5 million Internally Displaced Persons (IDPs). Shior lamented the

worsening humanitarian challenge the attacks had caused the state even as he lament how the state would take care of the IDPs. He expressed concern over the lukewarm attitude of the federal government to

come to the aid of the state government to improve food supply to help alleviate the sufferings of the displaced victims. He said, "If you look at our data, children are not included with the exception

Alleged N2.9bn Fraud: Okorocha Seeks Buhari’s Intervention in Battle with EFCC Says IPOB members are mismanaged

Deji Elumoye in Abuja A former governor of Imo State, Senator Rochas Okorocha, has dragged the Economic and Financial Crimes Commission (EFCC) before President Muhammadu Buhari, where he had gone to seek his intervention in his battle with the agency. EFCC had on Monday filed a 17-count charge against Okorocha and others, over an alleged N2.9 billion fraud case before a Federal High Court in Abuja, hours after he officially declared his interest in running for the office of the president in 2023. Okorocha was however

at the State House, Abuja, yesterday, to intimate the president withhis intention to contest the presidency in 2023, while also informing the President of his travails with the EFCC, insisting that the anti-graft agency was being used to harass him. Speaking to newsmen after his meeting with Buhari, Okorocha said there was an existing court order restraining the EFCC from prosecuting him, hence, the president should caution the anti-graft agency against holding the court in contempt He, however, explained that he had not requested President Buhari to stop him from being

investigated, but to get the anti-graft agency to obey the law and to also order release of his international passport. His words: "I used this opportunity to intimate Mr. President of what is going on between me and Economic and Financial Crimes Commission and the harassment and intimidation that I'm getting from the EFCC, literally on daily basis, and to inform him that I have court judgment and two court orders for different judgments at different forums, which stop the EFCC from harassing and intimidating me. EFCC has refused to obey the law. "So, I have to inform Mr.

President that EFCC should be made to obey the law that established it and without the law, there wouldn't be an EFCC. Also, the desperation with which they go about any affair that concerns me, should stop. "And I reminded Mr. President that, sometime ago, the EFCC had claimed that they recovered the sum of N5.9 billion from my account, which the court found out to be untrue. In other words, they were biased and they prejudged me. On that basis, the court ruled and ordered that they should not further interrogate and harass me. This has also not been obeyed.

of communities that are located within Makurdi and its environs. Like at Abagena IDP camp, we have an emergency school there. In Daudu camp 1 and 2 and at Ukpiam camp, we have a small number of children, but locations like Umenger and Torkula in Mbadwem council ward, the number of children is small. "The same thing in Logo, Agatu, Okpokwu and Kwande Local Government areas respectively among others. So, for the communities that are affected by the crisis, the number of children in school is about 20 per cent." Shior further disclosed that the Fulani militants have destroyed roads and bridges in some parts of the state to frustrate the efforts of security agencies at accessing remote areas to contain attacks. He, however, commended humanitarian agencies and spirited individuals for their support to the state government, stressing that the burden the state has carried in caring for the victims was enormous and required the active backing of the federal government.

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SANWO-OLU OFFERS LIFELINE TO TWO OUT-OF-SCHOOL GIRLS… Lagos State Governor, Mr. Babajide Sanwo-Olu having a conversation with the two underage girls to ﬁnd out the reason they were not in school

Sanwo-Olu Leads in Care for Vulnerable Persons, SWIPI Initiative Launched Offers lifeline to two out-of-school girls Segun James Lagos State Governor, Mr. Babajide Sanwo-Olu has vowed to take the lead in the care of orphans, children with special needs, the elders, the mentally challenged, and other vulnerable groups in the state to give hope and make life meaningful to them. The governor, who spoke at the launch of a Social Welfare Integrated Program Initiative (SWIPI) aimed at supporting orphanages, elderly care homes, and others in the areas of addressing their infrastructure, medical, education, nutrition, and training needs, said a lot needed to be done to care for the less privileged in the society. He added that his government would not give excuses. He said he was particularly thrilled with the objectives of the SWIPI team in reaching out to the care homes in the state, adding that it was a clarion call on all to join hands with the government to make a positive difference. “I am actually very thrilled

listening to all of the very modest interventions and initiatives that SWIPI stands for and I must thank the initiator and the Grand Patron. There is a lot we can do for the children and vulnerable people out there; there is a lot that is expected of us. “As a government, we are not going to give excuses and I will personally take the lead and see that we double up our interventions through Ministries of Youth and Social Development, Women Affairs and Poverty Alleviation, and other MDAs,” the governor assured. Narrating his experience on his way to the venue of the SWIPI launch where he stopped his convoy upon noticing two young girls roaming the street during school hours. The governor gave the names of the girls as Amarachi Chinedu, 9, and Suwebat Husseini, 12, vowing to take over the sponsorship of their education. He said: “This morning, I had a first-hand experience of what many vulnerable children might

be going through in our society. I saw something that made my heart bleed on my way to this function. “I saw two little girls - ages 9 and 12 - carrying buckets on their heads to grind pepper at 11am when they were supposed to be in school. I stopped immediately, having seen how vulnerable they are and the risk we are putting them through. “My encounter with them gave me the opportunity to hear their stories and I have taken it upon myself to ensure that these girls never suffer such fate again. I am not going to leave them alone. Amarachi and Suwebat will go back to school. “This is a classic example of what we need to do differently as a society. It is needless to ask what brought their parents to Lagos. We must ensure they are not robbed of their future. “These two girls will be under my care and that of the First Lady. There are several Amarachi and several Suwebat out there, who will not have this kind of

opportunity. Every one of us can take the same decision and listen to stories of kids who may be vulnerable. If we choose to take up this responsibility as a people and give a voice to the vulnerable, we all can make a difference. There is no better kindness to be done to mankind than giving them a lifetime opportunity.” Sanwo-Olu advised parents not to break their backs in order to send their wards to expensive schools, noting that there are many government-run basic and secondary schools in Lagos doing better in imparting quality education than many private schools. The governor said his encounter with the girls brought the need to bolster government’s support to public schools and raise the standards. He said: “If as a parent you cannot afford to put your children in private school, know that there are public schools that are doing great things. Why would a parent deny a nine-year-old girl an access to education? Yes, we are doing

so much in education, but the story of these two little girls shows that there are more to be done. “Amarachi and Suwebat didn’t ask to be in the circumstance they found themselves in, but it is our responsibility to be able to give them the future they deserve; the opportunity that will make them better children to their family and better citizens of this country.” Sanwo-Olu called for partnership with development agencies, urging intervention bodies, such as SWIP Initiative, to join hands with the Government to ensure all vulnerable persons in Lagos, including children of school age, get adequate attention needed for their care. Speaking earlier after her investiture as the Grand Patron of SWIPI, the First Lady of Lagos State, Dr. Ibijoke Sanwo-Olu said she was fascinated by the objective of the organisation which is aimed at helping to tremendously improve the quality and value of care to the less privileged in society. According to her, “It is

Ogun Pays N200m Grant for Basic Healthcare for Vulnerable Persons Ogun State government said it has paid a total sum of N200 million grant to the Basic Health Care Provision Fund as part of its resolve to take advantage of the health scheme in the state. The state governor, Dapo Abiodun disclosed this at the launch of the Basic Health Care Provision Fund and commencement of the Informal Sector Health Insurance Scheme at Abeokuta, yesterday. He noted that the formal take-off of the health insurance scheme was another step towards capturing the all-important sector in the social health safety. "While our administration will continue to ensure that affordable and sustainable health care delivery system is provided in Ogun state, it is also imperative that we make it easily accessible to all our people. “It is for this reason that we are gathered here today to launch the Basic Health Care

Provision Fund (BHCPF) as an effective gateway to the Universal Health Coverage (UHC) and the formal take-off of Informal Sector Health Insurance Scheme towards improving the wellbeing, wellness

and welfare of the people of Ogun State. "The BHCPF is a social health intervention fund that is targeted at providing basic health care services to the vulnerable crop

of people – such as pregnant women and children under-5, as well as the indigent people in the society. Let me assure that with the formal launch of BHCPF, the basic health care

services will be provided to these categories of people that have been registered by the Ogun State Health Insurance Agency at no cost," the governor stated.

NGX to Relax Entry Barriers to Target Technology Companies, Listing Kingslsley Nwezeh, Adedayo Akinwale in Abuja and Nume Ekeghe in Lagos, In a bid to attract technology companies, the Nigerian Exchange Group (NGX) is planning to ease its entry rules for firms in the sector. The Chief Executive Officer, NGX, Mr. Temi Popoola, disclosed this on ‘Arise Xchange’ a programme monitored on Arise News Channel. He said: “One of the things that you find is that whilst the traditional initial public

offerings (IPOs) or traditional listings are happening as frequently as you would like within the technology space, a lot of capital raising capital formation is happening outside the traditional exchange. “Now part of this is understandable. Because a lot of capital raising tends to be very early stage tends to be more participation certificate (PC) type on demand the best. “But nonetheless, there are some companies that are mature enough in there that ideally could tap the markets. So we're

doing a lot of work to really look at the exchange rules, look at the sorts of barriers to entry and really ask ourselves how we can make those fit for purpose for technology companies.” Also speaking on the performance of the market in 2021, he said: “Last year, we had about a seven per cent growth in market capitalisation of the equity asset class and equity listings. We saw close to a 12 per cent growth in the size of the fixed income listings that we have. “And on the Exchange- traded

Fund (ETF) asset class, we saw a decline in the number of ETF issuances, which was understandable because we're coming from a very high base in 2020. “One of the things that came through today is that if you look at performance globally, those markets that took a market friendly approach to dealing with the economic fallout of Covid-19, you're seeing them come out of the pandemic, with economic and commercial standards being much stronger,” he added.

commendable that SWIPI is already intervening in delivering a training curriculum for registered caregivers, using world-class facilitators and the feedback has been improved knowledge and delivery of care by the caregivers in all the registered homes and orphanages in the state. “The organisation has also been strong in improving the quality of social welfare administration through the donation of critical equipment and facilities including digital tablets, computers, boreholes, water treatment plants, and toilet facilities, among others to ramp up the care of the vulnerable in the homes.” She said it was with deep sense of responsibility and call to service that she accepted the investiture in order to consolidate on the amazing objective to embed best practices in social welfare administration in the overall interest of the vulnerable, especially children, the elderly, and mentally challenged individuals. The First Lady also called on others to support SWIPI by donating generously; just as she said that addressing the plight of the most vulnerable in society is a collective responsibility that falls on every global citizen. “I believe that the social welfare system is one of the single most important sectors of society that can deliver a marked improvement in the standard of living of the most vulnerable in our society,” she said. Besides, she called for deliberate policies and laws to ensure that registered orphanages and elderly care homes adhere to best practices, while efforts are put in place to address the issue of unregistered homes, with the view to ensuring that they are properly regulated. In his opening remarks, Chairman of SWIPI, Dr. Kolawole Ajayi said the organisation consists of 11 professionals from different walks of life who have incredible love for children and are concerned about the social, economic, health, and welfare of vulnerable children, particularly those in orphanages.

FRIDAY FEBRUARY 4, 2022 ˾ T H I S D AY

NEWS

Three Policemen Killed as Gunmen Invade Police Station in Niger Laleye Dipo in Minna Three policemen attached to the police outpost in Ishau in the Kaffinkoro district of Paikoro Local Government Area of Niger State have been killed by unknown gunmen. Two of the slain policemen were buried at Kaffinkoro on Wednesday evening while the remains of the third was ferried to Kuta for interment in line with the request of the family of the deceased. The gunmen also sacked the police outpost freed some informants arrested and detained there. The village head and four of his children and other villagers were reported to have been abducted by the gunmen before they raided Zubakpere, Kuna, Aboloso, Kudami, Dakolon Daji, Nugwazi, Amale, Adunu, villages kidnapping many villagers and rustling hundreds of cattle. The Police has not confirmed the development as efforts made to contact the Commands Public Relations Officer DSP Wasiu Abiodun was not successful. However, the State Commissioner for Local Government and Internal Security Mr. Emmanuel Umar, confirmed the story but said

he did not have the identities of those kidnapped. Umar said security operatives were deployed to kaffinkoro and neighbouring villages to restore normalcy. The commissioner also disclosed that air and land operations are simultaneously

going on in Shiroro and Munya local governments saying: “ We have recorded a lot of success. Some of the bandits have been neutralised.” Meanwhile, the Coalition of Shiroro Association (COSA) has raised an alarm over the continued invasion of

communities in Munya and Shiroro local governments. The associations spokes-person, Salis M Sabo, in a statement made available to newsmen in Minna yesterday said: “Yesterday, Wednesday the terrorists invaded some communities in Munya Local Government. The community so

far invaded in yesterday’s attack include: Kazai Kadara, Kazai Gwari, Dnakpara, Kamache, Kabulai and a host of others. Sabo said four persons were killed in Jazai and one other person in Kabulai adding that the gunmen kidnapped many people.

Sabo said the remains of those killed were buried at Kabulai community adding that: “Even when the burial was going on, the terrorists came back again and attacked the people, people of these communities are now displaced in Gwada and Chiri Villages.

NEW UNIVERSITIES FOR LAGOS…

L-R: Special Adviser on Education, Tokunbo Wahab,;Lagos State Governor, Babajide Sanwo-Olu, and Lagos State Attorney General/Commissioner for Justice, Moyosore Onigbanjo, SAN, when the governor signed the bills establishing the Lagos State Polytechnic (LASPOTECH), Adeniran Ogunsanya College of Education (AOCOED) and Michael Otedola College of Primary Education (MOCPED) as universities in Lagos…recently

Ondo N4.3bn Secret Account: Hoodlums Attack Aregbesola’s Oranmiyan House in Osogbo Court Dismisses Group’s Information Request Yinka Kolawole in Osogbo

Fidelis David in Akure An Ondo State High Court sitting in Akure, the state capital, yesterday dismissed a legal action against the Speaker of the Ondo State House of Assembly, Bamidele Oleyelogun, and the state’s Commissioner for Finance, Mr. Wale Akinterinwa, over their failure to respond to a Freedom of Information request on the discovery of N4.3billion allegedly kept in a bank account for 10 years. A civil society group, Upline Centre for Development had on January 18, 2022, through its Counsel, Olu Ogidan, instituted the legal action.

The state government had in 2020 announced the discovery of N4.3 billion secretly kept in a bank account for 10 years. The State Commissioner for Information and Orientation, Donald Ojogo, had said the account domiciled in a third-generation bank was uncovered by the Commissioner for Finance. The group subsequently wrote the Speaker and commissioner to provide evidence of appropriation of the money for spending by government and report of the committee set up by the House of Assembly to investigate the expenditure of the principal sum of N4.3billion.

Anambra APC Resolves to Sue Uba, Ejidike for Alleged Contempt David-Chyddy Eleke in Awka The Anambra State chapter of the All Progressives Congress (APC) said it will drag it’s candidate in the 2021 governorship election, Senator Andy Uba and the factional chairman of the party, Basil Ejidike to court. The party in a press briefing said this was as a result of the recent conduct of congresses in the state by the faction led by the duo, which they said ignored a State High Court judgment stopping them from holding it, and another Appeal Court order which sacked Ejidike, while installing a former chairman of the party, Barr Emeka Ibe. The State Secretary of

the party, Mr. Chukwuma Agufugo and other stakeholders dismissed Uba as the leader of the party in the state, while affirming the Minister of Labour and Employment, Dr Chris Ngige as the authentic leader. Agufugo said: “APC in Anambra is under siege. Some anti-democratic forces have taken over the party in the state, but we will not allow them. “We hold this press conference today to dispel some information that enemies of the party have been dishing out to unsuspecting public. The problem of the party started during the last governorship primary election, which was meant to elect, not select a flag bearer.”

As Osun APC crisis assumed another dimension, hoodlums bearing arms yesterday attacked Oranmiyan House, owned by Minister of Interior , Rauf Aregbesola, after weekly meetings of his political associates, The Osun Progressives (TOP). The building, which is located around Coca cola area along Osogbo-Gbongan road,

Osogbo, Osun state, was attacked around 5:30pm and was shattered with bullets. The hoodlums also attacked and shot at the transformer and the canopies used to hold the weekly meeting within the building complex. However, the canopies caught fire before it was put out by workers and shop owners around the building. An eye witness, Sholagbade Abass , disclosed that the

hoodlums arrived the building in two vehicles, a red Sienna vehicle and Toyota bus parked on the side leading to Ogo-Oluwa and opened fire on the building. According to him “Shortly after our meeting today, the people had already left, some thugs came in two vehicles. One red Sienna car and a bus, around 5:30pm, parked on the other side of the road, move towards the building with pump action rifle and started shooting.

It was very difficult to count their number but going by the over 30 cartridges on the floor, their number is large, they started shelling the building. “They also shot sporadically at the transformer to set it on fire so that the whole building will be razed. But luckily, the canopies caught fire and the people we mobilised quickly to extinguish the fire after the hoodlums escaped through Gbongan/Osogbo road.”

Masari Calls for Reopening of Nigeria/Niger Border Francis Sardauna in Katsina The Katsina State Governor, Aminu Bello Masari, has called on the Nigeria Customs Service (NCS) to reopen the Nigeria/ Niger Republic border in Jibia Local Government Area of the State for legitimate commercial activities to thrive between the two countries. Masari, who made the call

yesterday in Katsina shortly after a Customs/Community Consultative Forum, said despite the closure of the border by the NCS, smuggling and other illegal commercial activities still persist at the border. The federal government, on August 20, 2019, closed down Nigeria’s borders with neighbouring West African countries and set up a Special

Task Force comprising security personnel drawn from the Army, Air Force, Customs, Immigration and the Department of State Services to check the activities of smugglers. While the government reopened other land borders in the country, the Nigeria/Niger land border in Jibia still remained closed despite the directive by the Nigeria Immigration Service

for its reopening. Residents of the border community, traders and transporters had felt the pain. Governor Masari, represented at the event by the Secretary to the State Government, Dr. Mustapha Muhammed Inuwa, said: “The NCSshould understand that they are supposed to serve the people and make border areas to be areas that can genuinely improve the economy.

Former PDP’s Spokesman, Alkali, Backs Clamour for Restructuring Chuks Okocha in Abuja Prof Rufa’i Ahmed Alkali, former PDP National Publicity Secretary and also former Political Adviser to former President Goodluck Ebele, has thrown his weight behind the clamour for restructuring of the country.

In a Convocation Lecture delivered at Taraba State University, Jalingo, titled, “Democracy, Good Governance and Leadership Challenges in Nigeria: Lessons for Africa,” Prof Alkali declared that the issue of restructuring started from the pre-colonial era and this

was one of the issues that gave birth to various federal constitutions in Nigeria from 1946. Alkali, a Professor of Political Science and Visiting Professor National Universities Commission, Abuja and former National Publicity Secretary of the Peoples Democratic

Party ( PDP), stressed that the latter-day apostles of restructuring are ethnic and regional political elites who are now championing agitations for restructuring to divert attention from their own failures when they had opportunities to make life better for their people.

Kebbi LG Poll: Police Deploy Personnel, Warn Politicians, Thugs Ismail Adebayo in Birnin Kebbi Ahead of tomorrow’s (Februay 5) local government election, the Kebbi State Police Command has warned political thugs, miscreants and politicians who might want to engage

themselves in any unlawful activity during the election period to desist from it as they would be arrested and prosecuted. A press statement signed by the Public Relations Officer (PPRO), Kebbi State Police Command, SP. Nafiu Abubakar,

said measures have been put in place to ensure the smooth conduct of the election and to bring anyone caught trying to disrupt it to book. “The Kebbi State Police Command and other security agencies in the state are fully prepared to ensure hitch

free 2022 Kebbi State’s local government election,” the statement said. Abubakar said that the police would continue to ensure the safety of lives and property of the good people of the state before, during and after the election.

FRIDAY FEBRUARY 4, 2022 ˾ T H I S D AY

APC Inaugurates State Chairmen Without Oath of Office Adedayo Akinwale ÓØ ÌßÔË The leadership of the All Progressives Congress (APC), has inaugurated newly-elected state chairmen of the party after more than four and half hours delay, however, without an oath of office administered on them. The event scheduled to commence at 2pm did not start until a few minutes to 6pm. But, while the state chairmen were handed certificates, no oath of office was administered on them. Prior to the ceremony, security was beefed up at the national headquarters of the party in Abuja. The increased security at the Buhari House was part of the effort by the Caretaker Extraordinary Convention Planning Committee (CECPC) to forestall breakdown of law and order especially, from the aggrieved members of the party Already, the party is faced with crisis in Osun, Ogun, Kwara, Kano, Zamfara, Lagos, and Ekiti, among others, where parallel congresses were held

and reconciliation has not not been achieved. Secretary of the party, Senator John Akpanudoedehe, who inaugurated them said, “I’ve been asked to come and issue you certificates of return to you as duly elected state chairmen of our party.” Those inaugurated were Dr. Kingsley Ononogbu (Abia), Mr. Ibrahim Bilal (Adamawa), Mr Augustine Ekanem (Akwa Ibom), Hon. Basil Ejike (Anambra), Mr. Babayo Aliyu Misau (Bauchi), Dr. Dennis Otiotio (Bayelsa), Mr. Augustine Agada (Benue), Hon. Ali Bukar Dalori (Borno), and Mr. Alphonsus Eba (Cross River). Also were Mr. Omeni Sabotie (Delta), Hon. Stanley Emegha (Ebonyi), Col. David Imuse (rtd) (Edo), Mr. Omotosho Ayodele (Ekiti), Mr. Ogochukwu Agballah (Enugu), Mr. Nitte Amangal (Gombe), Dr. Macdonald Ebere (Imo), Hon. Aminu Sani Gumel (Jigawa), Air Cdre Emmanuel Jekada (Rtd) (Kaduna), Mr. Muhammed Sani (Katsina), Mr. Abubakar Kana (Kebbi) and Hon. Abdullahi Bello (Kogi).

Others included Mr. Sunday Fagbemi (Kwara), Hon. Cornelius Ojelabi (Lagos), Mr. John Mamman (Nasarawa),

Hon. Haliru Jikantoro (Niger), Mr. Yemi Sanusi (Ogun), Mr. Ade Adetimehin (Ondo), Mr. Adegboyega Famodun (Osun),

Hon. Isaac Omodewu (Oyo), Hon. Rufus Bature (Plateau), Chief Emeka Bekee (Rivers). Hon. Ibrahim Tukur El-Sudi

(Taraba), Mr. Muhammed Gadaka (Yobe), Mr. Tukur Danfulani (Zamfara) and Mr. Abdulmalik Usman (FCT).

DISCUSSING IMPROVED PRIMARY HEALTHCARE…

L-R: Governor Ifeanyi Ugwuanyi of Enugu State, and the Executive Director/Chief Executive Oﬃcer, National Primary Health Care Development Agency, Dr. Faisal Shuaib, he paid a courtesy visit to the governor in Enugu… yesterday

Court Convicts Ex-Deputy Ibadan High Chiefs Finally Affirm Balogun as Next Olubadan Rector’s Son, Two Others for Cyber Fraud in Kwara Kemi Olaitan ÓØ ÌËÎËØ

Hammed Shittu ÓØ ÖÙÜÓØ A Kwara State High Court sitting in Ilorin yesterday convicted Mr. Olaoye Jamiu Olarewaju, son of a former Deputy Rector, Federal Polytechnic, Offa, Kwara State, over offences bordering on cybercrime. The Ilorin Zonal Command of the Economic and Financial Crimes Commission, (EFCC), secured the conviction of Olarenwaju over offences bordering on cybercrime. He was convicted alongside one Badmus Ridwan Moyosore,

a native of Ibadan, the capital city of Oyo State and one Abdulsalam Ibrahim from Malete in Moro Local Government Area of Kwara State, over similar offence. The trio of Olarewaju, Badmus and Abdulsalam, who were prosecuted on separate charges by the anti-graft agency pleaded guilty to their various charges. Following their pleas, the Counsel to the EFCC, Rasheedat Alao, called witnesses who are operatives of the commission to review the facts of the cases.

Buhari’s Aide Advocates Legislation for Women Inclusion in Politics James Sowole ÓØ ÌÏÙÕßÞË The Senior Special Assistant to President Muhammadu Buhari on Sustainable Development Goals (SDGs), Princess Adejoke OrelopeAdefulire, has called for legislation to ensure adequate representation of women in politics. She said that without legislation that explicitly mandates women’s inclusion in political processes, women’s representation in the country will continue to be minimal. She spoke during the annual lecture of the Women Studies and Development Centre (WSDC) of the Adekunle Ajasin University

(AAU), Akungba Akoko on the topic: ‘Towards Achieving the Sustainable Development Goals in Nigeria: Bringing Women into the Equation’. She said: “The Beijing Declaration and Platform for Action set a global threshold of 30 per cent representation of women in any political or decision-making sphere. “However, the global average of women’s representation in parliament is only 22 percent. Here in Nigeria, women make up a mere 3.8 percent representation in parliament at both national and sub-national levels – making it the lowest in Africa.

The succession crisis rocking the Ibadan traditional council was yesterday laid to rest as the Otun Olubadan of Ibadanland,High Chief Lekan Balogun, has finally been affirmed as the next Olubadan of Ibadanland. His emergence and affirmation followed his unanimous endorsement by all members of the Olubadan-InCouncil, after a meeting, held in Ibadan.

The unanimous decision to have Balogun as the next Olubadan was arrived at during the meeting held at the residence of Balogun of Ibadanland, High Chief Owolabi Olakuleyin. The Otun Balogun of Ibadanland, High Chief Tajudeen Ajibola, while speaking after the meeting, said the ball is now in the court of Governor ‘Seyi Makinde to commence the process of installing the new Olubadan with the kingmakers having done as he (the governor) advised.

It was learnt that the meeting was moderated by the state government, which was represented by the Director of Administration and General Services of Ibadan South East Local Government, Alhaja Tawakalitu Adedotun. The decision was taken and made public after a closed-door meeting by the high chiefs, just as the members of the Olubadan-In-Council came out of the meeting with relaxed and lively mien. High Chief Ajibola said all the

kingmakers were unanimous in the choice of Balogun as the next Olubadan, stating that the meeting provided a great opportunity for the kingmakers to settle their differences as the meeting went very well. “The only person amongst us that missed out of the very important and crucial meeting was Iyalode of Ibadanland, High Chief Theresa Oladuntan Oyekanmi, but, she sent in her letter of nomination which conformed with our unanimous decision on Dr. Balogun.

Ekiti LG Forms Task Force to Rid Borders of Kidnappers, Bandits Victor Ogunje ÓØ ÎÙ ÕÓÞÓ

Determined to rid the Ekiti borders with Kwara and Kogi States of criminal gangs terrorising the northern axis of the state, the Ajoni Local Council Development Area (LCDA), has established a joint operation tagged Eradicating Bandits at the Borders of Rural Ajoni Communities (EBBORAC) to combat crime in the area. The LCDA comprises Iyemero,

Itapaji, Irele, Ijowa, Oke Ako, Ipao, Esun, Oke Ayedun, Odo Ayedun and Ayebode Ekiti. Speaking with journalists in Ado Ekiti yesterday, the Council’s Chairman, Hon. Michael Ogungbemi, said the step was taken after the maiden meeting of the security and intelligence committee of the local government held on Wednesday. Ogungbemi said the meeting was in response to the several

cases of kidnappings and killings that had been witnessed along Iyemero-Eruku of Kwara and Ipao-Irele -Ponyan roads of Kogi borders recently . The council boss said those who attended the security meeting were himself and other top functionaries in the LCDA like: the Vice Chairman, Prince Babatunde Famoroti; Head of Local Council Development Area, Mrs .Modupe Oluwafemi and

Director of Administration, Mr. Kayode Bello. Security formations at the meeting were representatives of the Ekiti State Police Command, Nigerian Army , National Drug Law Enforcement Agency (NDLEA), Nigerian Immigration Service, Vigilante Group of Nigeria , Department of State Services( DSS), Ekiti State Peace Corps and Amotekun Corps.

2023: Igbo Group Chair Insists on Power Shift, Restructuring The Chairman of the Diaspora Igbo group, the Igbo World Assembly (IWA), Dr. Nwachukwu Anakwenze, has disclosed that he is taking the liberty to create an exploratory team to seriously look into the viabilities of declaring his presidential ambition for 2023. Anakwenze, who dropped the hint in his keynote speech during the just-concluded Nigerian Inter-Ethnic Nationalities Dialogue, Presidency of Igbo Extraction, 2023, held in Awka, Amambra

State, told the audience that it would be unjustifiable and insensitive for the North to retain power in 2023. He urged all patriots and men and women of goodwill in all parts of country to ensure that rotation and zoning of presidential power in 2023 by electing a president from the Southern part of Nigeria. The IWA chairman, who has insisted in the restructuring of the country with optimism, said: “If

I eventually run and potentially win, I will work hard to create jobs where there are no jobs, and every step of the way, I will work with industries to create internships that will help our young graduates currently roaming the street unemployed. “I am a simple man that is driven by the desire to give the youths what we had growing up-a sense of self-worth and the belief that the sky is the limit when it comes to the ability to excel.”

Anakwenze, who assured the gathering that he would focus on youth capacity building and building of world-class economy for Nigeria and providing true security if elected president of Nigeria, told the gathering that all the regions of Nigeria have produced presidents, stating that it is now the turn of the South-east region to provide good leadership for the good of all Nigerians so as to move the country in a positive direction.

James Emejo ËØÎ Folalumi Alaran ÓØ ÌßÔË

the south-east from Lagos, Port Harcourt and other areas with adequate water connectivity. The approval given by the Federal Executive Council (FEC) followed a detailed process under the regulatory guidance of the ICRC which commenced in 2011 with support from the World Bank. The Onitsha River Port was officially opened over three decades ago but had been neglected and had not been optimally utilised.

Also, the Onitsha River Port remained one of the four River Ports in the country with others situated in Lokoja, Kogi State; Baro in Niger State and Oguta in Imo State. The commission, in a statement issued by its acting Head, Media and Publicity, Manji Yarling, pointed out that the concession was part of the bigger federal government’s plan to concession the remaining river ports and enhance inland waterways transportation in the

country. He said the concession would also create thousands of direct and indirect jobs, while facilitating more efficient trade within the country through cheaper, easier and cleaner method of transporting goods and services. He said: “The port is equipped to deal with general cargo such as containers, bulk cargo and other packaged freight. The port has a land area of over 12 hectares.

Army to Give 21 Gun Salutes to Late Former Head of State, Shonekan FG Targets N50bn from Onitsha River Port 30-year Concession Gun Salute is scheduled for Chiemelie Ezeobi As part of activities to mark the state funeral service of late former Head of State, Chief Ernest Shonekan, the 81 Division of the Nigerian Army would today give 21 artillery gun salute in his honour. In a statement yesterday, acting Deputy Director, 81 Division Army Public Relations, Major Osoba Olaniyi said the special honour would take place at the Ebony Vault and Garden, Ikoyi, Lagos. It explained: “The 21 Artillery

Friday, February 4, 2022. As part of activities lined up for the State Funeral there would be a 21-Artillery Gun Salute to honour the late Elder Statesman. “Accordingly members of the general public who reside and work around Ikoyi general area especially those around the Ebony Vault and Garden Ikoyi, Lagos are not to panic but go about their normal respective businesses as all necessary safety measures have been put in place.”

The Infrastructure Concession Regulatory Commission (ICRC) has said the federal government has approved a 30-year concession of the Onitsha River Port. The facility which is under a Rehabilitate-Operate and Transfer (ROT) arrangement, aims to generate about N50 billion and would serve as an alternative source of transporting goods to

FRIDAY FEBRUARY 4, 2022 ˾ T H I S D AY

NEWSEXTRA

Minister: Report Police Personnel to Complaints Commission Onuminya Innocent in Sokoto

The Minister of Police Affairs, Dr. Muhammad Maigari Dingyadi, has blamed the #EndSARS protests on the collapse of the Police Public Complaints Commission (PPCC). Dingyadi stated this at the sensitisation campaign on the PPCC activities for the North-west that was held in Sokoto. He posited that, the resuscitation of the PPCC would give the Nigerian populace an avenue to seek redress and report erring police officers who trampled on their human rights. He stated that the PPCC would have averted the #EndSARS protest and its attendant negative consequences if it had not been rendered moribund due to lack

of funding. The minister said that “#EndSARS protests was birthed by incessant incidents of police brutality which angered the Nigerian youths and, the attendant effect was the destruction of public and private properties and, lives were unfortunately lost in the process. “The operational guideline for the committee is to receive and study petitions while the secretariat would select the petitions to be handled by the PPCC. “The committee will not handle cases currently in court of law, cases settled in a court of law, cases between police personnel, cases that are more than two years old, petitions

that are not duly signed by the petitioner/anonymous petitions, cases between police and other security agencies and cases that are purely civil in nature involving a police officer.” He enjoined Nigerians to report their complaints against police personnel to the PPCC. He further disclosed that the body was created as a specialised institution to handle infractions committed by police officers. The minister noted that the initiative was in furtherance of President Muhammadu Buhari’s quest to achieve “people-centric security arrangements.” He assured that the government would prioritise citizens’ rights and address genuine cases of violation to promote inclusiveness, advance peace and security.

100 Indigent Students Benefit from Okunbo’s Scholarship in Edo Adibe Emenyonu in Benin City About 100 pupils and students, including Internally Displaced Persons (IDPs) in Edo State on Wednesday were awarded scholarship, courtesy of the children of late Captain Hosa Wells Okunbo. The scholarship was in remembrance of the 64th posthumous birthday of the late philanthropist, who passed on in September last year. Speaking at the ceremony, wife of the Olu of Warri, Olori

CHANGE OF NAME I, formerly known and addressed as IBRAHIM A ADAMU now wish to be known and addressed as IBRAHIM GONI. All documents remain valid. The general public should please take note. I, formerly known and addressed as UWANDU KIZITO UZOMA now wish to be known and addressed as ANTHONY KIZITO UZOMA. All documents remain valid. The general public should please take note.

I, formerly known and addressed as TANO DANIEL OPIAnow wish to be known and addressed as OGHENETANO DANIEL OPIA. All documents remain valid. The general public should please take note. I formerly known and addressed as ABUBAKAR MAIAKWA now wish to be known and address as ABUBAKAR MAIAKWAI. All former documents remain valid. The general public should please take note. I, formerly known and addressed as MS YETUNDE CYNTHIA ORE now wish to be known and addressed as MS YETUNDE MARIAM ORE. All documents remain valid. The general public and Banks should please take note. I, formerly known and addressed as MISS AJIBIKE KAFAYAT FOLASHADE now wish to be known and addressed as MRS AHMED KAFAYAT FOLASADE. All documents remain valid. The general public should please take note. I, formerly known and addressed as OGBUOKIRI CHIDIOGO ANGELLE-MICHELLE. now wish to be known and addressed as ALADI CHIDIOGO ANGELLE-MICHELLE. All documents remain valid. The general public should please take note.

Atuwatse III, and first daughter of the late philanthropist, urged the benefiting pupils to emulate the life of her late father, who she said was not born with a silver spoon but made it through hard work and determination. She explained that the selected pupils and student for the scholarship were from public schools whose parents could afford to pay their fees. Flanked by her siblings, other family members and heads of schools, Olori Atuwatse III said: “Captain Hosa was many things to many people. My father went to school in

this city, my mother went to St. Maria Goretti Girls Grammar School, so I want to encourage you to be determined like him. “My father was one of the children in the family of eleven, his parents were teachers so he was not born with a silver spoon but through hard work, dedication and determination he rose to be a man of great impact and great value so I want you take this as an encouragement. “Look at him and know that this is the same Benin City that he grew up in and you are growing up in. You have all it takes to make it and impact on the society.

Highpoint Event Centre Opens in Ikeja Traditional rulers, media professionals led the impressive roll call that graced the grand opening of Highpoint Event Centre and Suites yesterday in Lagos. Among those present include the Ilara of Ilara, Olufolarin Ogunsanwo, Lagos State Commissioner for Local Government, Wale Ahmed, his counterpart in Tourism, Uzamat Akinbile-Yusuf, former Special Adviser on Media to President Goodluck Jonathan, Reuben Abati, former Commissioner

CHANGE OF NAME I, formerly known and addressed as MISS NWAUDOH IFUNANYA NCHEDO, now wish to be known as MRS OZIM IFUNANYA NCHEDO. All former documents remain valid. General public should please take note.

I formerly known and addressed as OTSEMOBOR ALOAYE GODFREY now wish to be known and addressed as OZIMEDE ALOAYE GODFREY. All documents remain valid. The general public should take note. I formerly known and addressed as DANIEL ALADI .L and OTSEMOBOR LUCY ALOAYE now wish to be known and addressed as OZIMEDE LUCY ALOAYE. All documents remain valid. The general public should take note. I formerly known as UZONDU UDODIRIM LOVETH now wish to be known and addressed as AGUORU UDODIRIM LOVETH. All former documents remain valid. Authority concerned and general public should please take note.

for Information and Strategy in Lagos, Steve Ayorinde, former Chief Press Secretary to ex-Lagos Governor, Habib Aruna, former Lagos lawmaker, Hon. Segun Olulade, publsher of Encomium, Major Akinpelu, among many others. The event was also graced by the Resident Pastor of Living Faith Church, Pastor David Oyedepo Jnr, who delivered a short exhortation. Managing Director of Highpoint Event Centre, Mrs. Omolara Adebiyi, in her remarks, said the idea of citing the hall in Agindingbi area of Ikeja was to provide a comfortable and exquisite event centre to enable guests mark their memorable events. “This dream of a world class event centre was borne out of the desire to meet the growing need of befitting celebration venues for our special occasions. “The demand of world class event centre that are within every one’s reach far outweighs the supply available. “The dream was conceived and we ran with it and to the glory of God we are celebrating the manifestation of that little dream “I was asked once why Agindingbi and my reply was why not Agidingbi? We seem to have enough porsh place to make our memorable event when the traffic takes us to the Island but we don’t have any or enough such places while the reverse is the case. “So ladies and gentlemen, HighPoint is born. It is a world class event centre in the serene neighborhood of Agindingbi, Ikeja with ample parking space.

WORLD OF ISLAM

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Make Your Mark in Your Society By: Islamweb It is a great deprivation and evident loss for a person to be just a number in the long list of humanity during this life and after death, having no weight in the values of moral code and no contribution in ethical legacy. Such contribution is the last imprint you leave and the last image of you in life. You should leave a mark that commemorates you after you die. So, how will your departure look like? What will you leave behind? Will you leave a lasting fruitful legacy and a good memory or a bad impact that will continue to harm and a disreputable memory? Before answering, we should know that Allah created creatures varying from each other, and just as they are different in color and size, so are they different in qualities, nature, behavior, and morality. Allah did not create a harsh nature or innate characteristic in a way that a person could not change his character, behavior, or be unable to purify his soul. It is oddly enough that a person leaves the world without leaving an impact to be praised and emulated, even stranger than that, one leaves a pure evil, such as the notoriety on social media, insult, slander, and defamation. Allah may forgive the negligence of his slave if his sins involve just the rights of Allah, but the sins which involve transgressions against the rights of other humans will be pending until the Day of Judgment. Therefore, transgressors must be aware that their bad impact is the cause for their hatred, and supplications against them by those who have suffered their mistreatment, not only that, but their bad impact might be spread and promoted by their followers, Allah, The Exalted, Says (what means): {That they may bear their own burdens [i.e. sins] in full on the Day of Resurrection and some of the burdens of those whom they misguide without [i.e. by lack of] knowledge. Unquestionably, evil is that which they bear.} [Quran 16:25] Noble conduct and good impact are considered as an additional life, a model for others who desire and love to emulate and imitate them, and who will continue to ask Allah to have mercy on them. It is a treasure that not only his/her family will share, but also everyone will benefit from that treasure. His/her legacy will not be passed only to his/her inheritors, but also will be passed to those who benefited from this legacy. Their traces will keep drawing an intellectual image for society even when their bodies are lying beneath the dust; they will be remembered and followed. It is a continuous giving and permanent goodness that drives society to keep the good deeds and maintain generous qualities, as Allah, The Exalted, Says (what means): {Whoever does righteousness, whether male or female, while he is a believer – We will surely cause him to live a good life, and We will surely give them their reward [in the Hereafter] according to the best of what they used to do.} [Quran 16:97] Human life has no value without leaving a legacy after his/her departure, unlike successful ones as they know how to create great glory and rich history of their own. One of the prominent characters of our era is Sheikh Abdur-Rahman As-Sameet, born in Kuwait in 1947. He had been persistent in praying since his young age; he loved reading, he read the Sirah (biography) of the Prophet, sallallahu ‘alayhiwasallam, and his great companions and the biographies of righteous predecessors. He grew up loving

this religion, which makes his lovers great men having no counterparts in history. Sheikh Abdur-Rahman noticed, during studying in high school, that the workers used to wait for public transport under the burning sun of Kuwait. Accordingly, he and his colleagues decided to raise money to buy a car to transport workers from work to their homes for free, just for the sake of Allah. After that he joined university study, he had his bachelor’s degree in medicine in Iraq, his master’s degree in Britain, and his doctorate in Canada, and finally decided to return to Kuwait to work as a physician, but his good wife advised him that he should work in the field of Da’wah (Islam propagation) in East Asia. It was the will of Allah that he settled in Africa in Malawi, because one of the good women had asked to build a mosque outside Kuwait, as he fulfilled her wishes. He was shocked by what he saw; many Muslims there did not know how to perform ablution nor know about the teachings of Islam, while he saw the European Christianization activity as they succeeded in Christianizing them. As-Sameet and his wife decided to stay there for Da’wah; both of them abandoned the luxury life and settled in a remote village on the island of Madagascar in the village of Madikeri in a modest house. He set up a team of Islamic preachers and Imams to spread Islam to the African countries, after training them on wise Islam propagation ways and methods of dealing with different cultures. He spread his students everywhere in the continent, creating an integrated network of loyal young people who were moving from a village to another walking on foot to propagate Islam among their people. He helped huge numbers of people to convert to Islam, he also contributed to the construction of about 5700 mosques, cared for and fostered orphans; he fostered 15000 orphans, drilling more than 9500 Artesian wells, building 860 schools, establishing 4 universities and 204 Islamic centers. He formed an association and named it the Direct Aid Association to benefit everyone whether Muslims, Christians, or Pagans. May Allah have mercy on you, Abu Suhaib, and dwell you in paradise. Allah The Exalted Says (what means): {Indeed, it is We who bring the dead to life and record what they have put forth and what they left behind, and all things We have enumerated in a clear register.} [Quran 36:12] When will you leave your mark, while Allah has bestowed the grace of Islam upon you? And what a great blessing, you are also blessed to be a descendant of great ancestors who enlightened the world from its darkness and created a civilization written by history. Are you not worried about the state of your Ummah (Islamic nation)? Aren’t you concerned about the Dunia (the worldly life) being as a weapon with others who threaten your Ummah? Isn’t it worthy for you to take part in building that history? Get up and let go of your laziness, find out who you are and look at your nation’s past to be inspired by them as a torch that lights your way; hasten to work and make your mark in life as life is short and you don’t know when it is going to end. When it comes to an end, only your legacy will remain and you will have an honorable mention in later generations, otherwise you won’t have a legacy, and the history will forget you.

FRIDAY, ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

FRIDAYSPORTS

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

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Cameroon’s Indomitable Lions were subdued 3-1 in penalty shootout last night by Egyptian Pharaohs. The hosts are to play the third placed ﬁnal against Burkina Faso on Saturday.

PHOTO: Reuters

It’s Salah v Mane Final as Egypt Win Shootouts with Cameroon

Egypt defeated Cameroon 3-1 on penalties last night after a 0-0 draw in the 2021 Africa Cup of Nations (AFCON) semifinal match at the Stade Omnisport Paul Biya in Yaounde. The final is going to be battle between two Liverpool teammates, Mohamed Salah and Sadio Mane. Both players played important roles in their respective country getting to Sunday’s final. The victory saw the Pharaohs progress to the final where they will face Senegal on Sunday, while the Indomitable Lions are set to take on Burkina Faso in the thirdplace playoff match on Saturday. The Indomitable Lions controlled the match from the start with André-Frank Zambo Anguissa pulling the strings from midfield for the tournament hosts

against the Pharaohs. Toni Conceição's side looked dangerous from aerial balls with goalkeeper Mohamed Abou Gabal forced to come out and deal well with a cross from Karl Toko Ekambi which was meant for Vincent Aboubakar. Abou Gabal, who is nicknamed Gabaski, was beaten in the 17th minute, when Aboubakar connected well with a corner-kick, but the ball hit the woodwork as Egypt's poor marking was exposed. Anguissa also came close to scoring when his flicked effort narrowly missed the target and the score was 0-0 at the interval following a first-half which was dominated by Cameroon. The Pharaohs were the better side after the restart following their

A F R I CA C U P O F N AT I O N S

half-time team talk with coach Carlos Queiroz. Mostafa Mohamed forced keeper Andrea Onana into a save from a free-kick. Egypt should have taken the lead when Mohamed Salah intercepted a poor back pass from Martin Hongla, but Ajax Amsterdam shot-stopper Onana did brilliantly to stop the Liverpool FC superstar. This served as a wake-up call for the Indomitable Lions. Toko Ekambi got the faintest of flicks from Moumi Ngamaleu's free-kick and Gabaski made a smart save at his near-post. The two teams were unable to find a late winning goal in the latter stages of the encounter which

saw Queiroz being sent off and the match ended in a 0-0 draw in regulation time and extra-time followed. The best chance in extra-time went to Egypt after some great work by Ramadan Sobhi inside Cameroon's box as the skillful forward dribbled past his marker with ease. However, somehow Sobhi's cross evaded three Pharaohs players in close proximity and the match had to be decided by a penalty shootout after a 0-0 stalemate on the night. Egypt went on to win 3-1 on penalties with Abou Gabal proving to be the North African giants' hero as he saved two spot-kicks.

CAF Approves Abuja Stadium for World Cup Playoff with Ghana Duro Ikhazuagbe

The newly refurbished turf of the Moshood Abiola National Stadium in Abuja has been given the nod as the venue for Nigeria’s 2022 FIFA World Cup playoff second leg tie against Ghana by the Confederation of African Football (CAF). This is the first major event that the Abuja Stadium is going to play host to after several years of been left idle due to the poor state of its playing turf. Africa’s business mogul, Aliko Dangote, bankrolled the refurbishment of the facility to

give Super Eagles and other national teams a permanent home and stop them from nomadic merry-go-round the country. But yesterday, CAF conveyed its decision on where the second leg of the World Cup will take place in a letter addressed to the General Secretary of the Nigeria Football Federation, Dr Mohammed Sanusi. The letter read in part: “Please note that the approved stadium will be set as the venue to host the match Nigeria vs Ghana related to the FIFA World Cup Qatar 2022 playoff round.

“Nonetheless, please find attached in Annex A the inspection comments and remarks addressed in the coming period by your association, in order to guarantee that the stadium is maintained in list of CAF approved stadiums for senior competitions. “Among other aspects mentioned in the report, the stadium management is requested to ensure that the playing surface area, floodlights and the dressing room are brought to the required level to host this important match,” read

the CAF letter made available to THISDAY. While the venue for the second leg of the playoff in Nigeria is certain, the Ghana Football Federation is yet to decide on the stadium that will host the first leg. The Baba Yara Stadium in Kumasi it proposed after the Cape Coast Stadium it earlier scheduled for the match may not be available as it is going to host Ghana’s independence celebration was rejected by CAF. The first leg is fixed for March 24 with the return leg to hold five days later in Abuja.

AfroSport TV Celebrates AFCON 2021 Milestones As the AFCON 2021 draws to a close, the official broadcaster of the tournament and Nigeria’s first 24-hour Free-to- Air sports channel, AfroSport Television has said it has recorded astonishing milestones by reaching over 60 million viewers during the group and round of 16 stage. Analysing the reports yesterday, the Principal Consultant of AfroSport TV, Mr. Rotimi Pedro said the feat was achieved in collaboration with three of Nigeria’s terrestrial television networks; Nigerian Television Authority, Silverbird Television, AIT and the AfroSport TV channel 730 on the digital TV platform, Free TV as well as other content affiliate state broadcasters Pedro said there was a slight dip in viewership after the elimination of Nigeria at the round of 16 stage, but the Nigerian passionate football audience soon forgot about the pain of the elimination of their darling team and viewership picked up again at the semi-final stage with the Egypt vs Cameroon match and is expected to reach 65 million and an estimated 3 million free streams on its Vidivu OTT platform during the final match on Sunday, the 6th of February. The AfroSport TV boss said collaboration and partnership remain the bedrock on which the milestones have been achieved. He remarked that "As a channel that is less than a year since its inception, AfroSport TV has come this far through the dedication, passion, focus and ambition of its

people; as well as the collaboration of our broadcast partners - NTA, AIT and STV, a network of private and state/regional broadcasters, the National Broadcasting Commission’s (NBC) digital platform – Free TV and ofcourse the support of Flutterwave, our esteemed sponsor of the broadcast of all the 52 live matches of the AFCON competition." He said this is a testament to the power of a channel on an FTA platform that touches the core of the passion of the people and their love for sports. “The channel has indeed enabled millions of sport fans across the country and the continent to be part of the thrills and frills of the continental football fiesta. “From securing the broadcast rights, to the test transmission window and then beaming the first signals from the AFCON 2021, AfroSport TV has come full circle from being a dream to a reality, one born out of the desire to make premium sports content available to millions of fans deprived of the means to view and enjoy what they are passionate about,” Pedro noted. He assured sport fans that AfroSport will continue to offer Nigerians and indeed Africans exciting sports content through the acquisition of rights to world-class sports content. If the assurances are anything to go by, then millions of sports fans in Nigeria and across the continent are indeed at the cusp of enjoying quality sports content for free on AfroSport TV.

FRIDAY, ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

SPORTS

Experience Will Stand Senegal in Good Stead for Final, Says Mane Senegal’s experience of playing in the last Africa Cup of Nations final will be a "good asset" for them in Sunday’s title decider against Egypt that defeated Cameroon 3-1 in penalty shootout last night, said forward Sadio Mane. Senegal, who beat Burkina Faso 3-1 on Wednesday to reach the final, have yet to win the continental title but came close in Cairo in 2019. "Experience is a good asset," said Mane, who scored Senegal’s third on Wednesday. "I think that has always been the case since the start of this tournament. We suffered so much with a lot of COVID cases and several injuries too. "We had a very difficult time but with our experience we kept calm until we recovered the whole group.

"We played a final last time, so we have experience and we will try to win this trophy.” Senegal were also runnersup in 2002, the year they went to the World Cup in Japan and South Korea and beat holders France in the opening game and became just the second African country to reach the quarterfinals. The comparisons between that generation and the current side have increased as Senegal progressed through the tournament. "There are a lot of leaders in this team because we have a lot of great players and a lot of mature players. Everyone is making a contribution so that the team can move forward,” added Mane. Senegal will play in Sunday’s final at the Olembe Stadium in Yaounde.

Sportsville Award Excites Dare, Momoh, Bako

Sadio Mane (centre) has promised that the Teranga Lions are going to win the AFCON 2021 for their underrated Head Coach, Aliou Cisse

IOC Members Slam Infantino for Biennial FIFA World Cup Proposal Members of the International Olympic Committee (IOC) have hit out at proposals to stage the FIFA World Cup biennially - the idea of colleague Gianni Infantino. The FIFA President Infantino was not present at the 139th IOC Session in Beijing yesterday where three members slammed plans for the event to be held every two years instead of four. More members would probably have criticised the plan if IOC President Thomas Bach had not stepped in to stop them. National Olympic Committees of Africa (ANOCA) President, Mustapha Berraf led the criticism at Thursday’s IOC gathering in the Chinese capital, claiming the move would have a "heavy impact" on the continent and football in general. "The plan would create immeasurable damage and would put in danger sport and in particular football," said Berraf. "It would simply push away other sports and relegate them to the back benches which is unacceptable and create a rift between women's and men's sport and be a setback to our aim of creating equity and parity for all sports." Berraf insisted footballers were "not robots" and needed to recover and spend time with their loved ones. "I make the request to put an end to this endeavour which is incompatible with our Olympic values," added Berraf. Infantino sparked controversy when he claimed the biennial World Cup proposal could help prevent African migrants from finding "death in the sea". The Swiss official later insisted

that his comment made during an address at the Parliamentary Assembly of the Council of Europe had been "misinterpreted and taken out of context". The Confederation of African Football (CAF) has since thrown its support behind Infantino but Berraf believes plans for the World Cup will "not help the development of sport in Africa". Nenad Lalovic, head of the United World Wrestling, and Ryu Seung-min, a member of the IOC Athletes’ Commission, also spoke out in opposition of FIFA’s plans. Lalovic, a member of the Association of Summer Olympic International Federations (ASOIF), claimed the umbrella body had issued their criticism to FIFA. “Football should cooperate in solidarity with other sports and

International Federations," added Ryu, an Olympic gold medallist in table tennis. "Sport is for all and we need more solidarity among sport." Bach revealed Infantino had cancelled his visit to Beijing two days ago and refused to discuss the issue without the FIFA President being present. "We would like to discuss this with the FIFA President but this is not possible because he cancelled his visit to Beijing the day before yesterday," said Bach. "We should not discuss this now on a wider scale on this issue in his absence in respect for our colleague. "If you agree, we will try to take contact with him again and forward these comments which have been made by Mr Berraf, Mr Lalovic and Mr Ryu to him

Gianni Infantino...slammed by IOC members for proposing biennial FIFA World Cup

and FIFA." The CAF is among the few organisations to have backed the proposal to stage the men's World Cup every two years instead of every four. UEFA and CONMEBOL have threatened to boycott the tournament if the plans are pushed through. Infantino claimed at a global summit last month that the biennial World Cup would deliver an additional $4.4 billion (£3.3 billion/€3.9 billion) in the first four-year cycle.

With few days to the second edition of the annual Sportsville Award, Sports Minister, Hon Sunday Dare and other awardees have said that they are warming up for the event with excitement. Hon Dare while accepting the award said the management of Sportsville has done well by chosing to bestow honour to whom it is due. Dare assured the organisers that he would be in Lagos personally to receive the award. " I am excited to be part of this award. Sportsville has been one of the most credible and objective sports programme on air. The award coming from its stable is one to cherish," added Hon Dare who sent representatives to the maiden edition last year. The CEO of Channels TV, John Momoh, was also full of praise for Sportsville declaring the annual award as one that would help the development of Nigerian sports. Momoh, who is being honoured for the positive impact the Annual Channels Kiddies Cup Tournament has had on Nigeria Football, promised to grace the occasion in person. " I look forward to honour the award," says the soft spoken ex broadcaster who runs the award

winning Channels Television. For Dr. Danladi Bako, the award is a refreshing one in the array of awards he has gained over the years. He promised to be in Lagos despite his very tight and busy schedule out there in Sokoto where he is a key member of the Sultan's cabinet. Bako, a veteran broadcaster and former Director General of the Nigerian Broadcasting Commission (NBC) said..."gentlemen, be rest assured I will be in Lagos for the award. Sportsville has done well in the promotion and development of our sports and this is one honour I am excited about," Dr Bako, fondly called the Grand Master, added. Other sports dignitaries to receive awards that day include; Dr Sunny Ojeagbase, Chief Segun Odegbami, Olumide Oyedeji, Mike Itemuagbor and Ugo Udezue. Others are; Hon Bukola Olopade, Barr Seyi Akinwumi, Hon Ayo Omidiran, Daniel Igali and Delta State Sports Commission boss, Tonobok Okowa. The Sportsville Special Recognition Award comes up on Sunday, February 13 at the prestigious Radisson Hotel, GRA, Ikeja.

Binatone Honours Ese Brume in Lagos It was a moment of joy for Ese Brume, one of the two Nigerian athletes that won medals at the 2021 Olympics Games in Tokyo. She was honoured along with her coach, Kayode Yaya, by Binatone Nigeria at a brief but impressive ceremony in Lagos on Tuesday. Ese, who won a bronze medal in women’s Long Jump in Tokyo 2020, was out of the country on an International engagement when her colleague, Blessing Oborududu , who also won a silver medal in Women’s freestyle wrestling was hosted at a similar event in Lagos on October 28, 2021. Welcoming guests to the ceremony, Binatone Managing Director, Prasun Banerjee, commended the two medalists for making Nigeria proud at the Olympic Games in Tokyo. “We in Binatone are excited by the excellence performance of both Ese Brume and Blessing Oborududu and congratulate them for their achievement at the Tokyo

Olympics.” According to him, Binatone, as a responsible corporate entity in Nigeria, has deemed it fit to celebrate the medalists as its own modest way of encouraging the athletes, their coaches, and the development of sports in the country. “Binatone has been operating in Nigeria for over 50 years. We are celebrating these medalists to encourage them to achieve greater heights in future. With their achievements at the Olympics, they have made Nigeria proud and have become role models to the youths in their immediate environment and the country at large,” he stated. The Chairman of Binatone Nigeria, Alhaji Ibrahim Francis Ogboro, expressed his excitement at the impressive performance of the athletes at the Olympics and encouraged them to work very hard to win more laurels for the country in future. “We in Binatone are very

proud of your performance at the Tokyo Olympic Games. You have made our country proud. Our company will continue to honour and encourage you to train harder and perform better in future engagements.” He stressed the need for continuous efforts to develop sports in Nigeria because it has become a unifying factor across the world. Responding, Brume was full of appreciation to Binatone Nigeria for the honour done to her, stressing that it will spur her to win more laurels for the country in future sport outings. Coach Kayode Yaya also thanked the management of Binatone for honouring them. “This is the first time we are being honoured after the Olympic Games. “What you have done for us today will inspire me to put in my best to ensure that Ese gets to the peak of her career. We are indeed grateful to Binatone Nigeria.”

Friday, February 4, 2022

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& RE A SO

Price: N250

MISSILE Trade Union Congress to FG “’We have spoken, that as much as we support deregulation, subsidy cannot be removed until fuel is reﬁned in our country. So, if it takes them 10 years to produce fuel in our country, then they should hold on to subsidy until it is over. Do you want to rule dead bodies? Then, kill everybody so there would be nobody to spend money on” -TUC Secretary-General, Musa Lawal, warning the Federal Government against subsidy removal, without local reﬁning of fuel.

AKINOSUNTOKUN BUA and My COVID Experience DIALOGUE WITH NIGERIA

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n the past 6 years, we have completed 4 plants – two in Obu, Edo State and two in Sokoto (of which this sokoto line 4 is the fourth) with BUA’s total production capacity now standing at 11million tonnes with the completion of this plant.Next year, we intend to complete the construction of two new plants of 3 million metric tonnes each for which construction is ongoing – one in Edo and the other here in Sokoto. We expect these plants to be completed next year which will bring our total production capacity to 17million metric tonnes. From a job creation and economic standpoint, the Sokoto plant continues to be the largest private sector employer of labour in the North-Western part of Nigeria. Also, by adding value to resources mined in Nigeria, Nigeria is being saved billions of US dollars in foreign exchange that would have been spent on importation, whilst also ensuring product availability. In fact, 95% of all the raw materials used in our cement manufacturing process are sourced locally”- Abdulsamad Rabiu “In March, BUA’s chairperson, AbdulSamad Rabiu, announced N1 billion donation to the private sector basket being coordinated by the Central Bank of Nigeria (CBN) in response to the pandemic. A month later, the group announced a fresh donation of N3.3 billion to help the most hit states of Lagos and Kano respond to the rising figures in their states”-Thisdaylive My flirtation with Covid-19 started, in earnest, at the University of Oxford where I resumed for a year long academic visitor fellowship programme in October 2019. As the pandemic crisis gathered momentum, the University took the universal cue and suspended all academic and official activities indefinitely. I was then prompted by my minder to seize the opportunity and do a tourist destination tour of the city-to those spots that were still open and whose Covid compliant closure was imminent. And so we visited an antique episcopal church built for worship as far back as the 16th century. We were invited to make a prayer request if either of us so desired. On a hunch I took the offer and made the request that God should shield and heal the world of Covid. The request was significant because at the material time, early on in the visitation of the virus, I did not take the pandemic seriously and used to mock the resident Chinese and other Asian nationals who committed to the mask wearing culture ahead of everyone else (they were the earliest learners of the Covid-19 lesson). As the reality of the crisis took an ominous turn with a global shutdown of social interaction I interpreted my decision to make the prayer request as a divine directive from the higher realms. And rather conveniently I made the further interpretation that it meant neither me nor anyone close to me will be afflicted by the virus.

Rabiu My friend, Abdulsamad Rabiu is a very good Muslim but obviously did not limit his understanding and intervention to prayers and symbolic spiritual tokenism, he put his money wherein laid his rational convection. He bought millions of dollars worth of airtime on the ubiquitous Cable News Network, CNN, to urge his fellow national and international listeners to follow the science and mask up. By Nigerian and African standards this was quite unique. The erstwhile assumption is that this assumed global social responsibility was limited to the likes of Bill Gates. I promptly and dutifully cited him as self-motivated global ambassador for the fight against the pandemic, COVID-19. After been sequestered at home in Cardiff for several months by the global shutdown, I arrived Nigeria at the year end of 2020 still stuck with the religious belief that I was somehow immuned against the virus. I drove headlong into a hectic and prioritised sub national political schedule with perfunctory regard for the pandemic safety precautions. This was in the heydays of the siege laid to the Yoruba country by criminal Fulani elements and a commensurate militant pushback by Sunday Adeyemo. We could not just sit back and fold our hands in the face of tacit state complicity by the omission of culpable indulgence. In the Afenifere caucus and rather poetically appropriate, Chief Ayo Adebanjo led the way in the indication that Covid 19 was not a respecter of Yoruba nationalist struggle. But the old war horse stared down the virus and soldiered on with bare physical impairment. In following suit, myself, Gboyega Adejumo and Yinka Odumakin were not so lucky. Indeed, one of us paid the ultimate price. Yet, gratitude is still in order. Afenifere and Pastor Tunde Bakare mobilised Dr Sade Adebanjo as our emergency physician and she worked on us round the clock until the Covid siege on our physical vitality was

akin.osuntokun@thisdaylive.com

lifted. On principle, I did not want my Covid patient status publicised at all and most of all I was averse to any sort of fundraising for my care and on this score providence cooperated with me. My condition, even though a little severe, was not beyond the financial medical cost I could personally afford. In the event, those who were inevitably in the know like Afenifere and Bakare assumed the responsibility without reference to me. It was after my safe return that moneybags friends like Abdulsamad knew and his reaction was predictable. What is this Akin? How could you have kept this away from me? Anyway please tell me what to do immediately. Now, Abdulsamad is one of the most generous friends and citizen, anyone or any country can have. As philanthropy in contemporary Nigeria goes, (as another friend puts it), Samad is the new kid on the block. I may be wrong but I doubt if there is any Nigerian who has expended more resources in addressing the challenge of the pandemic in Nigeria. Nearly the same can be said of his general commitment to the cause of corporate social responsibility in Nigeria. He and Aliko Dangote are quite high up in the ladder of my favourite Nigerians. The duo are a standing rebuke to Northern political jobbers and pandering opportunists who canvass preordained poverty and self-destructive obsession with political power as the ideological manifesto of the North-a North that can live with poverty but not with hard work and productivity. Recall the idiom of a foremost proponent. “We can live with our poverty, but we cannot live with a sense of disrespect and anybody who toys with our respect. We will fight them to the end. We inherited the North that determined where Nigeria went”. Not long ago, a documentary ran on the cable tv titled “the makers of America”. The cast comprised five historical figures including JP Morgan and Rockefeller; I cannot now remember the other three but they were all entrepreneurs and high stake investors. As distinguished as many American politicians were, no mention was made of any. This remarkable documentary was only being consistent with what we were taught in political economy that the economy is the substructure, the inner logic upon which the political superstructure is anchored. There would be protestations that in growing their business empire, Rabiu and Dangote have enjoyed concessions and other official preferments but so do others who did not commit to a tough similar call of a boots on the ground industrialisation drive. My exhortation is founded on a principled and intellectual premise. Both Karl Marx and Max Webber, founders of the theoretically divergent Marxists and Capitalists school of thought are agreed as to the precursor and causation of capitalist development; the former negatively so and the latter positively. The Marxists assert that progression to

capitalist development is necessarily preceded by the utilisation of the proceeds of ‘primitive accumulation of capital’ to birth and grow industrialisation. In the cultural origins of capitalism, Max Weber argues that capitalist economic development is rooted in the cultural mentality that deems wealth creation as a vocation, a calling. In general terms and in my understanding, the human agent of capitalism is (in the language of post-modernism) the professional investor-who, beyond the material gratification of business returns, finds ultimate satisfaction in creating wealth as an end in itself. The positive Nigeria that is struggling to be born is that in which the many contemporaries of Dangote and Rabiu (who likewise acquire considerable resources from the primitive accumulation stage of Nigeria’s capitalist development) should equally embark on profitably ploughing back the accumulated capital into Nigeria’s economy. Both are in this respect and in regard of their massive industrialisation of Nigeria and Africa, black Africa’s textbook capitalists. So therefore when my principal, Kabiyesi, the Ooni of Ife invited me to come along with him to Sokoto for the commissioning of the latest BUA cement plant I had no hesitation in accepting the invitation, my phobia for flying regardless. Arriving at Sokoto, the first inescapable observation was a substantial lack of commercial activity and social mobility. At the best of times, far Northern cities were never a conurbation of industrial and commercial activities. The current unprecedented and pervasive security breakdown has made a bad situation considerably worse and fostered a vicious cycle of poverty. The crisis has had the multiplier effect of deindustrialisation and socioeconomic immobility which in turn fosters a massive army of hungry and seething economic destitutes with vested interest in anarchy rather than the peaceful stability of society. Needless to say this is the inexhaustible pool feeding the neo terrorist seige laid on the Northern society. As the inimitable late Professor Sam Aluko surmised, the rich cannot sleep because the poor are hungry. The proximate perfect storm scenario is then actualised by the inability of the government to meaningfully grapple with the rampant anarchy. This is the multiple jeopardy situation from which investors, large and small, flee and never look back. Who will break this vicious cycle? To put the dilemma in the horse’s mouth, President Mohammadu Buhari confessed his helplessness “Every day, we are worried about what is happening in the North-west..What is happening now in the north-west is what has honestly overwhelmed me.. the same people, the same culture, killing each other, stealing each other ’s property”. Which makes the valiant response of organisations like BUA all the more heroic.

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