WEDNESDAY 8TH FEBRUARY 2023 by THISDAY Newspapers Ltd

Court Discharges, Acquits Omokore, Firms of $1.6bn Fraud Allegations Says formal procedure followed by the defendants in lifting, sale of crude oil Alex Enumah in Abuja After nearly seven years of legal

battle, Justice Nnamdi Dimgba of a Federal High Court in Abuja, yesterday, freed an oil magnate

and chairman of Atlantic Energy Drilling Concepts Nigeria Ltd, Mr. Jide Omokore of alleged fraud and

money laundering allegations. Justice Dimgba freed Omokore and two of his firms, Atlantic Energy

Brass Development Ltd and Atlantic Energy Drilling Concepts Ltd, on the grounds that the prosecution,

the Economic and Financial Crimes Continued on page 9

48% of Nigerians Now Live Below Poverty Line, Says Humanitarian Aﬀairs Minister... Page 9 Wednesday 8 February, 2023 Vol 28. No 10164. Price: N250

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PDP: APC Candidate Hoarding Cash, Causing Nigerians Pains Tinubu: Opposition Creating National Siege to Disrupt Elections Hold me, my family responsible if I fail to perform, Obi declares I’ll prioritise education, security, Kwankwaso reiterates commitments Onyebuchi Ezigbo and Adedayo Akinwale in Abuja

The Atiku/Okowa Presidential Campaign, has alleged that the hoarding of the new Naira notes

by the Presidential Candidate of the All Progressives Congress (APC), Bola Tinubu, was causing Nigerians

unimaginable pain and wrecking their means of livelihood. But the former governor of Lagos

State has accused the opposition PDP of working to create a national siege with a view to disrupting

the presidential election due in Continued on page 9

Naira Scarcity: Buhari, Bagudu,Tambuwal, Emeﬁele, Bawa Meet, Seek Solution President cancels meeting with NGF over S'Court action CBN has no plan to thwart polls with naira shortage, says apex bank gov FG blames opposition for politicising policy CBN has disbursed over N1bn to banks in Edo in three days, state govt reveals Ganduje alleges plot to disrupt democracy TUC gives federal government 7-day ultimatum to address currency, fuel shortages

Deji Elumoye, Onyebuchi Ezigbo, Sunday Aborisade, Olawale Ajimotokan, Adedayo

Akinwale in Abuja and Ibrahim Shuaibu in Kano

As concerns continue to mount over the scarcity of the naira, President Muhammadu Buhari yesterday met

with the Chairman of the Nigeria Governors Forum (NGF) and Governor of Sokoto State, Aminu

BUHARI IN AUDIENCE WITH NGF CHAIR, CBN GOV & EFCC...

Tambuwal and the Chairman of the Progressive Governors Forum (PGF) and Kebbi State Governor, Abubakar

Bagudu at the State House, Abuja. Continued on page 9

L-R: Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emeﬁele; Co-Chairman Nigeria Governors’ Forum(NGF)/Kebbi State Governor, Sen Atiku Bagudu Abubakar; NGF Chairman/Sokoto State Governor, Hon. Aminu Tambuwal, and President Muhammadu Buhari, during an audience at the State House, Abuja…yesterday PHOTO: SUNDAY AGHAEZE.

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

NEWS

LAUNCH OF NIGERIA'S 2ND COUNTRY REVIEW REPORT/NATIONAL PROGRAMME... L-R: CEO AUDA/NEPAD APRM, Gloria Akobundu; Chief of Staff, Prof. Ibrahim Gambari; SGF, Boss Mustapha; President Muhammadu Buhari; Chairperson, Panel of African Union Eminent Persons Dr. Abdoulie Janneh and Commissioner of Internal Affairs, ECOWAS Commission, Prof. Nazifi Darma, as the president presided over the launch of Nigeria's second Country Review Report/National Programme of Action in State House, Abuja…yesterday

FG: New Minimum Wage Possible Before May 2024 Osinbajo: elite fueling ethnic, religious differences NLC: crisis of new Naira notes, fuel scarcity may engulf nation Onyebuchi Ezigbo in Abuja The federal government has assured Nigerian workers that it would set in motion the process that would lead to the approval a new minimum wage to be implemented on or before May 2024. The Vice President, Prof. Yemi Osinbajo, who was the special guest of honour at the 13th quadrennial delegates conference of the Nigeria Labour Congress (NLC) held in Abuja, yesterday, blamed the elites for always playing up the negative aspects of Nigeria's diversity. He said rather than put the blame on the masses, it was the elites that should learn to accept the reality that ethnicity and religion should no longer

play key roles in the country's affairs. Osinbajo urged workers not to be discouraged by the challenges they faced during struggles for their welfare and better policy options, adding that in today's world, no one could ignore the potency of people's power. But the NLC expressed fear that the country may likely be engulfed in serious crisis if the federal government fails to urgently address the economic and social disruptions caused by the petrol scarcity and naira scarcity. The Minister of Labour and Employment, Senator Chris Ngige, who addressed the workers said the federal government was in the process of kick-starting a review of the current minimum wage of N30,000.

According to Ngige, the present government would fast track the process to see that a new minimum wage would be ready latest by May next year. The minister praised the outgoing leadership of the congress, saying they did well in protecting the interest and welfare of the workers. "They were courageously and audibly the voice of the people during the National Minimum Wage (NMW) Negotiation which gave rise to the National Minimum Wage Act 2019 by which the NMW was reviewed. “Also, the outflowing Consequential Adjustment for ALL Public Servants was achieved by them. Furthermore, flowing from

the NMW negotiations, the cheery news is that the old Act has been upgraded to reflect and conform to the changing world of work to eschew decent work deficit and any form of unfair labour practises. "For instance, the NMW review has a five–year duration that will be adhered to by stakeholders, workers can now approach the National Industrial Court of Nigeria (NICN) for enforcement of their rights to receive the NMW," he said. Meanwhile, the NLC has said the country may likely be engulfed in serious crisis if the federal government fails to urgently address the economic and social disruptions caused by the petrol and naira scarcity. The congress described the cur-

Road Tax Credit Scheme: BUA Group Commences Construction of N116bn Kano-Kazaure Dual Carriage Way Goddy Egene BUA Group, one of Africa’s largest infrastructure conglomerates, has commenced the expansion and dualisation of the 132km KanoKazaure-Kongolam highway in collaboration with the Federal Ministry of Works and Housing under the federal government’s Road Infrastructure Tax Policy. The N116 billion project was flagged off by the Minister for Works and Housing, Babatunde Raji Fashola, in a ceremony in Kazaure, Jigawa State and would pass through Kano, Jigawa, and Katsina states from Dawanau Roundabout in Kano State to Kongolam in Katsina State. According to the Minister, BUA Group would be the sole financier of the project to dualise the 132 km road as part of its ongoing commitment to infrastructure development. Speaking at the official ceremony, the Group Executive Director of BUA Group, Kabiru Rabiu, was quoted in a statement yesterday, to have said BUA remained committed to partnering with the government on critical projects and initiatives that would fast-track human, social, and infrastructural development across the country. According to Rabiu, BUA Group, which is solely financing the project, had already mobilised equipment to site and has the capacity, expertise,

and resources to complete the road on schedule. He also thanked President Muhammadu Buhari and the Honourable Minister of Works and Housing for approving the project and restated the Group’s commitment to delivering a dual carriage road that will rank amongst the best in Africa. He said: “The dualisation project solely financed by BUA Group is a demonstration of our commitment to infrastructural development within Nigeria. This, of course, will positively impact the economy and partnering with the Federal Ministry of Works & Housing is an indication that private-public partnership is a viable means to achieving sustainable development.” Also speaking, the Minister of Works and Housing, Babatunde Raji Fashola, reiterated the commitment of the Buhari-led administration towards infrastructural development. According to Fashola, the N116 billion Kano-Kongolam highway which was being constructed by BUA Group with allied infrastructure, would complement the ongoing rail infrastructure projects of the federal government in the north-west region of Nigeria, and also open up more economic opportunities for Nigeria and the greater West African region. Fashola further stated that the best way to develop the country

was through Public Community Private Partnership, (PCPP) given the N348 trillion injection needed over a 10-year period to bridge the nation's infrastructure gap. Fashola further applauded the management of BUA Group for its continuous effort in infrastructural development and emphasised the need for the state governors of Jigawa, Kano and Katsina and traditional institutions to remove all encumbrances on the Right-of-Way of the project so as to allow the Contractor have full access to the width of the carriageway for the continued execution of the project for which implementation has already commenced. On this part, the Project Director, Mohammad Rabiu, said: "It’s a very big project that traverses the 3 states of Kano, Jigawa and Katsina states. The project will further open up the country by enabling access to neighbouring countries i.e. Niger Republic via Katsina State. “The road, when completed, will feature three bridges - Ungoggo Roundabout, Kazaure and Daura. These also include pedestrian crossings at eight locations along the project corridor and solar street lights for safe driving during nighttime.” The expanded Kano-Kongolam dual carriage highway upon completion, would connect three states namely: Kano, Jigawa, and Katsina and improve interstate travel,

make it easier to trade goods and services between the three states, and serve as a major artery for intra-African trade.

rent state of things in the country as unbearable. While welcoming delegates to the NLC Quadrennial National Conference in Abuja, the outgoing president of the NLC, Mr. Ayuba Wabba, said organised labour was very concerned with the sufferings imposed on the Nigerian masses nationwide by the policies of the government in finance and energy sectors. He criticised the attempt by the federal government to limit the amount of money Nigerians could withdraw from their legitimate deposits at the banks, describing it as unheard of in any other part of the world. According to Wabba, the sufferings many Nigerians were subjected to at the banks these days were unimaginable. In the same vein, Wabba bemoaned the persisting queues at petrol stations as a result of federal government's plan to hike the price of the product. Wabba restated the position of the organised labour to resist any attempt to withdraw subsidy on imported petroleum products as well as the privatisation of public-

owned education and health sector institutions in the country. Speaking about the plight of the workers, Wabba said their salaries have been rendered worthless by inflation and high cost of basic goods and services in the country. He added: "The situation of the country at the moment and the fact that the last increase has taken a long time. Also make it due for salary review to take place because there is the principle of equal pay for work of equal value. “Why for instance, should other agencies be earning higher over and above other civil servants, yet they participate in the same economy? "They go to the same markets and importantly, they do the same job. So basically, we want that also to be addressed, and it's important. The social sector needs some quick intervention, health and education. "We will continue to resist any attempts to privatise health and education because they are the fundamental right of every citizen in every country in the world, the children of the poor, and the children of the rich must assess quality education."

ICPC Swoops on Sterling Bank, Discovers N258m Stashed New Notes Commission arrests Keystone, FCMB officials

Kingsley Nwezeh in Abuja As part of ongoing efforts at ensuring that commercial banks comply with the CBN’s directive on the distribution of the redesigned naira notes, operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have revealed that last Friday, they discovered N258 million stashed in the vault at the head office of Sterling Bank in Abuja. A statement by ICPC said the discovery followed one of the commission’s operations at ensuring that commercial banks and other interest groups do not flout the apex bank’s directive. It said when the ICPC monitoring team visited the bank and discovered the stashed new naira notes in the bank’s vault, it was informed that the cash was the remnant of what the CBN had given the bank for

onward distribution to its branches. The team, however, found out that only the sum N5 million each was distributed to their various branches. The statement signed by the ICPC Spokesman, Mrs. Azuka Ogugua, stated that both the regional and service managers were arrested and later granted administrative bail while investigation continues. In a similar vein, the commission disclosed that it effected the arrest of the Head of Operations, Keystone Bank, Mararaba in Nasarawa State for frustrating its customers at getting the new naira notes. The ICPC team, while on its routine operation, found out that the ATMs at the branch were not dispensing to its customers while other bank customers were accessing only N1000. It was only after the arrest was made and clarification received from

CBN that the position of the officers of the bank was not correct, that the ATMs started dispensing N5000 to non-customers and N10000 to its customers. The team also revealed that it arrested one Abdulkareem Shaibu, a Security Guard with Zenith Bank, 3rd Avenue Gwarimpa, as well as Ali Adam and Shafiu Umar. While Shaibu, the security guard, was arrested for being in possession of five ATM cards which he was using to collect money for different unknown persons who were not within the bank premises at that time, Adam and Umar were arrested in front of Zenith Bank, 1st Avenue Gwarimpa, for selling the new naira notes. In another development, two officials of FCMB Ogo-Oluwa, Osogbo were also taken into custody for assault of officers of ICPC and CBN Cash Swap Monitoring Team.

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NEWS

NAIRA SCARCITY WON'T AFFECT ELECTIONS... L-R: Deputy Governor, Operations, Central Bank of Nigeria (CBN), Adebisi Shonubi; INEC Chairman, Prof. Mahmood Yakubu, and CBN Governor, Godwin Emeﬁele, during the courtesy visit by INEC’s management team to the CBN’s oﬃce in Abuja… yesterday

Lagos Targets over N924bn Revenue in 2023 Reiterates commitment to construction of fourth mainland bridge Segun James With the signing of the state's appropriation bill into law, Lagos State is expected to rake in N924.805 billion by December, 2023. This is equivalent to N77.067 billion monthly revenue generation. The State Commissioner for Economic Planning and Budget, Mr. Sam Egube, who disclosed this during a media briefing yesterday, said Lagos States Internal Revenue Service (LIRS) was expected to contribute 65 per cent (N682,906bn) of the projected Internally Generated Revenue (IGR), while about 23 per cent (N241.899bn) was expected to be generated by other Ministries, Departments and Agencies (MDAs) of government. The State Governor, Mr. Babajide Sanwo-Olu, had tagged the 2023 budget as, “Budget of Continuity,” noting that it was to complete all ongoing projects in different parts of the state. On October 27, 2022, Sanwo-Olu had presented a N1.692 trillion to the State Assembly, which was passed by the lawmakers on December 12, 2022. The State Assembly however, raised the approved budget by N76 billion to N1.768 trillion and on January 27, the governor signed the appropriation bill into law. The governor, while presenting the budget to the State Assembly, had said the state government was expecting a N1.342 billion revenue to fund the budget. The deficit of N350.411 billion was projected to be funded by a combination of internal, external loans and bond issuance.

Speaking further, Egube said as at December 31st, 2022, last year’s budget posted a performance of 74 per cent, with revenue performance at 77 per cent, while capital and recurrent expenditure performed at 70 per cent and 81 per cent respectively. He added that the 70 per cent performance of capital expenditure was as a result of the late closure of the N134.815 billion bond transaction, which was oversubscribed in December 2022, and utilisation deferred till year 2023. The Commissioner therefore stated the approved 2023 Budget of N1.768 trillion was made up of N1.020 trillion (capital expenditure) and N748.097 billion (recurrent expenditure - debt charges inclusive), resulting in a capital to recurrent ratio of 58:42. The total revenue was estimated at N1.418 trillion, while deficit-funding requirement was N350.411 billion, which at 25 per cent of total revenue implied that the budget was strongly dependent on revenue. As a result of this, the Commissioner urged the residents and those that have business with the state to fulfil their responsibilities as and when due by paying their tax. Egube said, "The state government has reiterated its stance in continuing to invest in the provision of affordable homes for the people of Lagos through its Social Housing Programme by injecting a total of N67.1 billion. “Some of the social housing program the budget targets include: the completion of 444 units of building projects at Sangotedo Phase ll, completion of 420 units of building

Projects at Ajara, Badagry Phase ll and the construction of 136 units of building Projects at Ibeshe ll among others. "The state government commitment towards the state’s 5-year agric road map had seen to the commissioning of the Imota Rice mills which will provide support to farmers and improve food systems generally in the state. “In addition to this, the state will invest a total sum of N45.1 billion for food security through cattle feedlot project, fish processing hub programmes and wholesale produce hub and market thus improving

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has told it members to ignore the directive earlier given by the Chairman of Borno State chapter, Mohammed Kuluwu, directing them to continue selling petrol nationwide. The IPMAN National President, Chinedu Okoronkwo gave the directive through the IPMAN Kano Zonal Chairman, Alhaji Bashir Dan Malam, yesterday. He said the directive followed the meeting held between the management of the NNPCL, IPMAN National leadership and other stakeholders, where the NNPCL promised to give marketers fuel directly. Danmalam said the meeting

which was at the instance of the NNPCL, was aimed at finding lasting solutions to the current fuel scarcity in the country. Kuluwu had earlier directed members to suspend all operations in addition to suspending payments and ordering products from source until further notice. Danmalam said the reason behind the Kuluwu's directive was because they (Marketers) now buy the products at very high cost because they were not getting the products from private depots. "Following the meeting, the NNPCL has promised to give IPMAN the products directly and also directed petroleum tanker drivers to stop the collection of the N2 levy," Danmalam quoted the National

intelligence gathering/capacity building capabilities together with improving the ease of doing business through the Smart-City project, the Lagos new Data Center project, Eko Excel project, E-GIS and the Oracle upgrade project. "We believe that there are huge revenue generating opportunities in the real estate, transportation, and trade sectors. Through active management of our assets, we will organise ourselves better to harvest more appropriate taxes and income from our capital investments and human capital development. “The state is totally committed to

ensuring that the dividend from its investments in Integrated Transport Infrastructure, which will materialise into the birth of the fully functional light rail (Red-Blue) system, the first of its kind by a sub-national government in Africa and the 37km Fourth Mainland Bridge will be felt by the citizens of the state. ‘These will reduce commute time to millions of Lagosians, reduce congestion on the existing Carter, Eko, Third Mainland Bridges and Ikorodu Road thus increasing productivity, quality of life, as well as improving the overall transportation system in the state.”

Youths Protest Naira, Fuel Scarcity in Ogun, Ondo Banks shut branches over fear of attack James Sowole in Abeokuta, Fidelis David in Akure and Sunday Ehigiator Some youths yesterday trooped out in Abeokuta, the Ogun State capital and Akure in Ondo State to protest their inability to get cash from halls of commercial banks, Automated Teller Machines (ATMs) as well as the lingering fuel scarcity. In Ogun State, while a group of protesters moved from one area of the town to another on motorcycles, some other groups, trooped out at other points, blocking major roads. The mobile protesters, were seen carrying jerry cans of petrol, which they used to make bonfires at major junctions and roundabouts

Ignore Kuluwu's Order, Continue Selling Petrol, IPMAN Tells Members Ibrahim Shuaibu in Kano

wholesomeness of food, reduction in food prices and optimisation of the agricultural sector." He added: “The N86 billion investment in public order and safety sector shows the state’s continuous commitment to ensuring that Lagos is safe for living, working and investment. It is important to note that N12 billion has been earmarked for the provision of rescue and emergency operation equipment for disaster management. Also, provision has been made for surveillance and body cameras for security monitoring.” He said the year 2023 budget would invest in strengthening

President as saying. He restated the commitment of the union to continue transporting the product to all states across the country so as to end the current scarcity of products. He said Okoronkwo used the occasion to caution members of the union not to allow themselves to be used by politicians in order to achieve their selfish interest. "I want to appeal to our members not to allow politicians to use them for their selfish interest, especially now that the general election is around the corner," Danmalam said. According to him, IPMAN would continue to support the federal government to ensure uninterrupted fuel supply across the nooks and crannies of the country.

in Abeokuta. The protest took place at Sapon, Ibara, Ake, Adatan, Asero and Obantoko. The protesters who were shouting on top of their voice condemning their inability to get access to their money in various commercial banks, made bonfires, in places, where banks were located. During the protest, rampaging youths, attacked First Bank Sapon, and broke some glasses around the bank's premises. As the news of the protest spread, banks and petrol stations, hurriedly closed their doors and gates and fled to avoid, being trapped. The action of the protesters, caused commotion in major areas of the capital city. Responding to the situation, mobile policemen, were deployed and within hours, they dispersed the protesters. In one of the video that went viral, staff said to be of a new generation bank, were seen scaling the bank’s fence, to avoid been attacked. Also, another video, showed a young man, said to have been shot at Sapon area of Abeokuta. The Police Public Relations Officer of the State Police Command, Abimbola Oyeyemi, confirmed the incidences, and assured members of the public to remain calm and go about their normal businesses. He said, “We are aware of the protests in some parts of the state. Our men have been mobilised to the areas to ensure the protest is under control. “We were able to put off the bonfire at Asero junction and we appealed to the protesters to vacate the road for motorists.” In Ondo State, some residents

of Ore, in Odigbo Local Government Area of Ondo State, staged a peaceful protest along Ore-Benin expressway to register their displeasure over the scarcity of naira notes and fuel scarcity ravaging the nation. THISDAY observed that as at 8:30am, some of the commercial banks around Alagbaka, Akure were yet to open for operation as banks customers who were on long queue were shot out. The Ore protest which caused gridlock in the commercial hub centre of the state made travelers plying the route stranded for some hours before intervention by security agencies One of the protesters, Prince Adebayo Adeyemi said the recent hardship ravaging the country was quite alarming. According to Adeyemi, in the past few weeks, residents of the town had suffered from the pain of naira scarcity, stressing that the crisis might worsen if there was no significant improvement in the supply of the new currency nationwide as the February 10 deadline to phase out the old notes draws closer. The State Commissioner of Police, Oyeyemi Oyediran, had on Monday, met with stakeholders in the state to address the issues of scarcity, inability to access cash at financial institutions and hike in fuel price at various filling stations. Oyeyemi noted that the command was aware of plans to embark on protest in the state as a way of showcasing their grievances, urging them not to. The Commissioner also urged concern citizens not to embark on any form of protest as it was not healthy, considering the current security situation of the state for

it not to be hijacked by hoodlums or use as a means to perpetrate other heinous crime in the state. Meanwhile, in Lagos, as the February 10 deadline issued draws closer, branches of some major banks in some parts of Lagos yesterday left customers stranded and helpless after shutting their doors to customers desperately in need of cash According to a source within the banking system, who pleaded to remain anonymity, “based on the various attacks in different parts of the country against bankers, there was a circular released on Monday that no branch should open if they don’t have cash (the new naira note) to dispense. “The reason for this circular is to de-escalate any tendency of violence in any bank branch. You know if a customer walks into the bank to withdraw cash and they tell them there is no cash on the ground, they may be infuriated and thereby attack banking staff. “Hence the best way to maintain calmness and deescalate the growing tension is to close the bank from being accessed by customers if you know you don’t have the cash to give them “This is why if you notice today, many bank branches in Lagos and some other parts of the country are not open to customers because they don’t have the cash to dispense.” At the Town Planning area of Lagos, a new-generation bank shut its gates as early as 9 am to customers who couldn’t carry out transactions. The situation was also not different in CMD Road, Ikosi, and Ketu areas of the states as various bank branches in the areas were closed with customers all looking stranded outside.

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NEWS

ATIKU RALLIES BAUCHI... L-R: National Chairman of the Peoples Democratic Party (PDP), Dr. Iyorchia Ayu; Presidential candidate and former vice president of Nigeria, Atiku Abubakar; wife of the presidential candidate, Mrs. Rukiyya Atiku Abubakar; Vice Presidential candidate/Governor of Delta State, Dr. Ifeanyi Okowa; Chairman of the PDP PCC and governor of Akwa Ibom, Udom Emmanuel and Governor Bala Mohammed, at the PDP presidential rally in Bauchi.... yesterday

FG Awards over N85bn Census Contract to Zinox Technologies Emma Okonji The federal government through the National Population Commission (NPC) has signed a landmark deal with Zinox Technologies, an indigenous tech brand, for the supply of technology components and other accessories for the 2023

national census project. The contract, worth over N85 billion, was recently awarded to Zinox after ratification by the Federal Executive Council (FEC). Zinox, which has already commenced supply of the first batch of about 100,000 units of the Personal Digital Assistants

(PDAs) devices required for the nationwide enumeration, emerged the preferred technical partners for the exercise after scaling a rigorous bid process involving other local and international competitors. According to sources from the presidency and NPC, Zinox stood out in the intense series of

background checks conducted to affirm the capacity, experience, integrity and ethical standing of the bidders, with the technology giant also meeting the rating as an indigenous technology powerhouse with global connections which has consistently enjoyed the confidence of leading Original Equipment

Fuel Scarcity: Again, FG Warns Oil Marketers Against Exploitation, Says Permanent Solution in Sight Blames previous administrations for rot in petroleum sector Emmanuel Addeh in Abuja For the umpteenth time, the federal government yesterday warned of dire consequences for any individual or groups of individuals who attempt to exploit and further cause untold hardship to the ordinary Nigerian by disrupting the fuel supply and distribution chain in the country. A statement signed on behalf of the Minister of State, Petroleum , Mr Timipre Sylva by his Senior Adviser on Media and Communications, Horatius Egua, called for patience while the government continued to search for a lasting solution to the challenge. It stated that the warning was coming on the heels of renewed efforts by the Nigerian National Petroleum Company Limited (NNPC) to maintain the 450. 92 million litres weekly evacuation of Petroleum Motor Spirit (PMS) to different petrol stations across the country. Sylva reassured Nigerians of the government‘s determination to find a permanent solution to the problems of petroleum products supply and distribution chain in the country . He called on security agencies to be on high alert in preventing attempts by subversive elements to cause any disruption during the period of the general elections in the country. Sylva appealed to Nigerians for understanding, noting that the President Muhammadu Buhari‘s government was sincere with finding sustainable solution to the fuel problems in the country. The minister said the government was exploring all options in seeking

an end to the fuel problem in the country and urged stakeholders in the oil and gas sector to join hands with government in ending the problem. In addition, while on a tour of some filling stations in Abuja, Sylva expressed government’s satisfaction at the efforts of the NNPC in ensuring fuel availability to the average Nigerian and urged them to keep up the tempo. It stated that in the last one month, NNPC had maintained a total weekly evacuation of 450.92 million litres and a daily average of 64.42 million litres. Sylva , while calling for a collective support in dealing with the fuel issue said the government feels the pains of the ordinary Nigerian occasioned by the lingering fuel queues, stressing that the relevant government agencies were working round the clock to ensure fuel availability at petrol stations across the country. The minister noted however, that the problems associated with fuel queues in the country were not a problem that came with the Buhari’s government, but a fallout of the ‘long years of rot’ and decadence in the fuel products supply and distribution chain by successive governments. He said that the Buhari administration was addressing the fuel problem holistically, stressing that it was the first time in so many years that a government is addressing the problems associated with fuel supply and distribution collectively. And as part of the move to find lasting solution to the problem, the

minister said the federal government recently set up a 14-man committee to get to the bottom of the problem with a view to avoiding future occurrences. The federal government, he said, has also embarked on refineries rehabilitations neglected over the years with Port Harcourt Refinery at about 65 per cent completion, Kaduna just awarded to Daewo of South Korea and Warri expected to follow soon. He said the government had

through the NNPC acquired a 20 per cent equity in the Dangote refinery and embarked on the licensing of modular refineries to ensure energy security for the country. In addition, he said the federal government had concluded the marginal fields bid rounds as well as improved security along the major crude oil pipelines in the Niger Delta region in the last few months , all geared towards increasing crude oil production to meet domestic consumption.

Manufacturers (OEMs) and other tech heavyweights the world over. This, it was learnt, earned it an endorsement by the federal government for the project. Zinox, in 2006 and 2010, rescued the nation’s voter registration exercise, when big foreign tech companies contracted by the Independent National Electoral Commission (INEC) could not deliver as scheduled. According to a statement from Zinox, the technology company used its Z-Pad smart device to lay the foundation for Nigeria’s digital democracy upon which INEC is building on today. The smooth execution of the over $200m INEC contract in 2010 added impetus to the profile of Zinox as a strong indigenous company with capacity and competence. Chairman, Zinox Group, Leo Stan Ekeh, said the company had built a system of integrity and a record of excellence, both in Nigeria and internationally. Further, Ekeh noted that until there was a credible data census figure, the country cannot plan well. Managing Director, Zinox Technologies, Mrs. Kelechi Okonta, said: “It is a privilege for the

Federal Government to consider us among many other companies in the world. They know we have the capacity. We are deploying all our resources to make sure it is successful.” The 2023 census, scheduled to hold between March and April, would be the fifth to be conducted by the Nigerian government since independence in 1960 and it is coming 17 years since the last edition, which was held in 2006 under the administration of former President Olusegun Obasanjo. “President Buhari, who has not hidden his desire to bequeath to the next administration a useful, reliable and credible databank, which captures Nigeria’s salient socio-economic and demographic information to underpin proper national planning, has thrown his weight behind efforts by the NPC to ensure a successful exercise. “To this end, Zinox on Friday, February 3, 2023 hosted a highpowered delegation of commissioners and management team of the NPC led by the Chairman, Hon. Nasir Isa Kwarra, where the first 100,00 units of the digital devices were presented to the commission,” the statement said.

FG Activates Bottom-up Cash Management Policy to Engender Fiscal Discipline To take effect February 10 James Emejo in Abuja The acting Accountant-General of the Federation (AGF), Mr. Sylva Okolieaboh, yesterday said the federal government has commenced implementation of the Bottom-up Cash Planning policy that would among other things increase certainty around budget execution and engender fiscal discipline. Speaking during the opening of the sensitisation training on the Bottom-up Cash Management Policy in Abuja, he said though the implementation process had witnessed many unforeseen delays over 10 years of hiatus, the policy has now come to actualisation. He said the cash management

approach entails the collection and aggregation of government cash needs through individual spending units. Okolieaboh said as part of the overall government cash management arrangement, the concept facilitates the optimal allocation and utilisation of government cash resources. He said the objectives include to minimise the costs of holding cash balances; reduce risk (operational, credit and market risk); add flexibility to the ways in which the timing of government cash inflows and outflows can be matched; and support other financial policies. According to him, the overriding objective of cash management was to ensure that the government was

able to fund its expenditures in a timely manner and meet its obligations as they fall due. The AGF, however, pointed out that the bottom-up cash management policy guidelines were approved by the Minister of Finance, Budget and National Planning on June 1, 2020, while President Muhammadu Buhari gave formal approval of its implementation on August 24, 2022, setting the stage for its rollout. He said as a follow-up to the approval, a Treasury Circular was issued on February 2, 2023, notifying MDAs of the Go Live date of February 10, 2023. According to him, the sensitisation event was meant to rally all directors and heads of finance and

accounts towards ensuring the success of the policy because of their critical roles in the implementation of this important project. The AGF said, “We can only succeed if every one of us does his own part. Indeed, the success of the bottom-up cash planning policy will rely heavily on your ability and willingness to play your own part. Being bottom-up, the process starts effectively with you.” He also explained that bottomup cash planning had been in the making since 2009 when the federal government initiated a feasibility study to determine the best strategies to address its cash management challenges as part of its Public Financial Management (PFM) reforms.

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48% of Nigerians Now Live Below Poverty Line, Says Humanitarian Affairs Minister Olawale Ajimotokan in Abuja The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq has declared that the per cent of Nigerians living below poverty line has improved to between 45- 48 percent. She argued that the percentage was a significant improvement compared with the 75 per cent

poverty rate before the Buhari-led administration came on board in 2015. She made the assertion yesterday at the PMB Administration Scorecard Series (2015-23) in Abuja. She said the number of Nigerians, estimated at 80 million, who lived under the poverty line, reduced as a result of the social nets and other interventionist programmes introduced by government since 2015.

“Let me also mention here that when this administration came on board in 2015, l think the statistics then said that over 75 per cent of our populace lived below the poverty line. “The story is different now. I don’t know the exact statistics, but it is in the range of 45 to 48 per cent so we have made significant progress in this regard,” Farouq said. The minister said government’s

judicious use of resources has considerably impacted many people and families, who hitherto could not feed and lacked any form of business and capital to be productive members of the society. She listed other achievements of the Buhari administration to include the provision of Conditional Cash Transfer (CCT) of N5,000 monthly each to 1,940, 325 vulnerable persons in 36 states and the FCT, while

355,000 vulnerable persons received grants of N20,000 each for vulnerable groups in 36 states and the FCT. She added that 1.5 million youths on N30,000 monthly stipends were also enrolled under four different batches of the N-Power programme. The minister stated that over 9.9 million pupils were fed in 36 states and the FCT under the National Home Grown School Feeding Programme where 128,531

cooks were employed from the local communities while local farmers were engaged to supply locally grown food. She described her appointment as the minister of humanitarian affairs to cater for people who are in need as an honour, saying if she was given the choice to choose between Petroleum or Humanitarian Affairs, she would still choose to serve in the latter.

So, it's all part of our commitment. "Now this issue of logistics for people who are going to be transporting election materials, certainly, the assurance I give to you is that because we regard INEC project as a topmost or an urgent national assignment, and therefore, it cannot fail and the central bank would not allow itself either to be used or to be seen as an agent that frustrated a positive outcome of that election. "So I stand here to give you that commitment. You have been responsible in the past anyway, it's not just about cash, you've done electronic payments before and if in this case after making your electronic payments, you require some money to pay transporters in cash, the assurance I give to you is that we will make it available, so it's nothing to worry about. "I will make sure that I do not allow ourselves as a central bank to be seen as an agent that frustrated

positive outcome of the elections," Emefiele assured the electoral body. Earlier, INEC Chairman said the commission was encouraged by the continuing willingness of the apex bank to support its determination to deliver credible elections on February 25, 2023, and March 11, 2023, particularly the facilitation of activities necessary for the success of the elections in an area where the CBN has exclusive responsibility. The chairman said the Nigerian election was a huge and complex undertaking which required the engagement of critical services. Yakubu, explained that in line with the provisions of extant laws and regulations, service providers are generally paid by means of electronic transfer to their accounts. He said, however, there are equally critical areas such as transportation and human support services that have to be immediately remunerated

NAIRA SCARCITY: BUHARI, BAGUDU, TAMBUWAL, EMEFIELE, BAWA MEET, SEEK SOLUTION The meeting at the instance of the president was also attended by Governor of Central Bank of Nigeria (CBN), Godwin Emefiele and the Chairman of Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa. This was just as Emefiele has assured that the apex bank would not allow itself to be used or to be seen as an agent to frustrate the forthcoming polls. Also, yesterday, the federal government flayed the opposition parties for turning the naira redesign issue into a political blame game. Minister of Information and Culture, Alhaji Lai Mohammed, gave the condemnation, yesterday, in Abuja, at the PMB Scorecard Series in the 2015-23 amid the hardship that has trailed fuel supply disruptions and the recent naira scarcity. It also emerged yesterday that the CBN has disbursed over N1 billion to Edo State in a span of three days to cushion the cash crunch in the state. But Kano State Governor, Dr. Abdullahi Umar Ganduje has lamented that those he termed elements of the annulled June 12, 1993 presidential election were regrouping and “dangerously masquerading in the prevailing crisis generated by the cash policy to scuttle the nation's hard earned democracy.” The meeting between Buhari, Tambuwal, Bagudu, Emefiele, Bawa, THISDAY learnt, was also attended by the Secretary to the Government of the Federation, Boss Mustapha as well as the Chief of Staff to the President, Prof Ibrahim Gambari. Although the details of the meeting with the president were not yet known, it may not be unconnected

with the cash crunch as a result of the naira redesign project as the elections draw closer. However, a scheduled meeting between Buhari and Governors under the aegis of the Nigerian Governors Forum was cancelled. No reason was given for the cancellation of the meeting initially scheduled for yesterday, at the Council Chambers of the State House, Abuja. The cancelled meeting with governors was coming four days after the president met with governors of his party, the APC, during which he had asked Nigerians to give him seven days to resolve the crisis associated with the naira scarcity. There had been mixed reactions over the currency swap policy, due to the shortage of cash in the economy. On Monday, Kaduna, Kogi and Zamfara states instituted a suit against the federal government seeking a restraining order to stop the full implementation of the naira redesign policy which has resulted in a cash crunch. A High Court of the Federal Capital Territory had on Monday, issued a restraining order on Buhari, the CBN Governor and 27 commercial banks from suspending the demonitisation policy of the federal government.

Emeﬁele: CBN Has No Plan to Thwart Polls with Naira Redesign Project

Also, Emefiele has assured Nigerians that the apex bank would not allow itself to be used or to be seen as an agent to frustrate the forthcoming polls. To this end, Emefiele assured that

the apex bank would provide the Independent National Electoral Commission (INEC) the needed naira notes required to mobilise its personnel and for logistics during the elections. The CBN governor gave the assurance yesterday, in Abuja, when he hosted delegation from INEC led by its chairman, Prof. Mahmood Yakubu. Emefiele said the relationship between the CBN and INEC started before he became the governor, saying the relationship borders purely on trust and confidence. He said the apex bank appreciated the fact that INEC supported by the Nigerian populace have the trust and confidence in the ability of the CBN in playing the roles that it had played, “for you so far to ensure that elections hold without any hitches.” Emefiele stressed that before now, the CBN had been involved in the storage of INEC election materials,

which involved using of its armoured bullion van in transporting electoral materials. He explained: "We are happy that in the course of this relationship, we have not disappointed you and that is the reason you have called me again this time. Now, just aside from the issue of storage of election materials together with transportation of election materials from CBN locations to your own specific or designated locations. "I know that just a few months ago, I visited your office and you raised the issue of how foreign exchange can be procured to you to import Bimodal Voter Accreditation System (BVAS) and other forms of election material needed to be imported and I gave you my word that foreign exchange will be provided for that purpose. "I stand here to confirm that as at today, all dollars needed to import those items have been provided and those items have been imported.

PDP: APC CANDIDATE HOARDING CASH, CAUSING NIGERIANS PAINS a few days. At the same time, the presidential candidate of the Labour Party, Mr. Peter Obi, has told Nigerians to hold him and his family accountable should he fail to fulfill his promises as president. Similarly, the presidential candidate of the New Nigeria People's Party, (NNPP), Senator Rabiu Musa Kwankwaso, has promised to prioritise education and security if elected, too. Nevertheless, the APC campaign council, yesterday, launched the Renewed Hope Ambassadors of Nigeria, with a mandate to mobilise 3.5 million votes for Tinubu.

One of the spokespersons for the PDP campaign, Kola Ologbondiyan, in a statement, yesterday, said the APC Campaign was desperate to mop up new naira notes by swapping them with their "ill-gotten" old notes stashed away in secret vaults. He said, having been rejected by Nigerians, the ruling party had relied solely on vote-buying, financial inducements and heavy bribing to compromise and derail the electoral process. The PDP campaign said it was disturbed by the harrowing experiences being faced by Nigerians, who were at the receiving end of

C O URT D IS C H ARGES, ACQ UIT S OMOKO R E, F I R M S OF $ 1 .6 B N F R AU D AL L EGAT I ON S Commission (EFCC), failed to prove the ingredients of the charge and consequently discharged them from all the charge. The anti-graft agency had arraigned the defendants in 2016, for allegedly diverting over $1.6 billion belonging to the federal government under the guise of oil swap. It was the case of the EFCC that the defendants under false pretense had obtained crude oil from the government when they never had the required funds or expertise to execute the said agreement between them and the federal government. However, delivering judgment in the suit yesterday, Justice Dimgba described the issues between the government and the defendants, which gave rise to the suit as "a relationship which has gone bad." The court for clarity divided the 15 count charge into four aspects. They included: obtain by false pretense; conspiracy to obtain by false pretense, money laundering and taking possession of proceeds of money laundering. In his judgment, Justice Dimgba stated that after a careful analysis of both oral and documentary evidence before him, there was no evidence that the 1st to 3rd defendants obtained by false pretense the said oil swap deal from the federal government. According to the judge, the testimony of one of the witnesses, a former Group Managing Director (GMD) of the Nigerian Petroleum Corporation (NNPC), Andrew Yakubu revealed that the agreement between the 1st to 3rd defendants was legally filed and entered into by the parties. Justice Dimgba, while stating that his findings showed there

was a formal procedure followed by the defendants in the lifting and subsequent sale of crude oil to third party, pointed out that the agreements were not procured by fraud or any other unlawful means. On the issue of competence and capacity, the judge noted that the defendants demonstrated that they had the expertise and the wherewithal to procure crude oil from the NNPC, process same and deliver the monetary equivalent of 5,652,227 barrels of crude oil. While stressing that the burden of proof was on the prosecution, Dimgba held that the 1st to 3rd defendants did not strike him as a person with fraudulent intent because claim of the 1st defendant that he committed all his resources to executing the agreements were not challenged by the prosecution. The judge said, "I find it difficult to see how the 1st to 3rd defendants acted fraudulently ", adding that Yakubu, in his evidence had stated that the federal government entered the agreements to, "consolidate on the gains achieved from previous agreements." Dimgba accordingly discharged Omokore on counts one to three on grounds that the prosecution failed to discharge the burden of proof in relation to the said counts. On the issue of conspiracy, the court held that there was nothing before it to show that the defendants conspired to carry out the agreements in an unlawful manner because the agreements were lawfully and legally entered into by the parties. Similarly, the court discharged the defendants on the issue of money laundering on the grounds that the contract was a lawful one and as such monies generated from it

Continued on page 35

cannot be regarded as proceeds of unlawful activities. Meanwhile, 4th and 5th defendants; Victor Briggs and Abiye Membere, were found guilty of collecting gifts from Omokore contrary to the laws guiding conduct of public servants. Although, the court had discharged them in counts 10 and 11 relating to them on the grounds that the money used to purchase the cars gifted them were not from proceed of fraud and money laundering, the court however held that they violated Section 98 of the Criminal Code which forbids public servants from receiving gifts from companies or individuals dealing with their office. Having found Briggs and Membere guilty of what he described as a lesser offense, Justice Dimgba, subsequently adjourned to Wednesday for allocutus and subsequent sentencing. Omokore was in 2016, rearraigned alongside Victor Briggs, Abiye Membere, David Mbanefo, Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts Limited. They were earlier arraigned before Justice Nyako on July 4, 2016. Then Chief Judge of the Federal High Court, Justice Ibrahim Auta, had transferred the case to Justice Dimgba following complaint by the EFCC. Some of the charges had read: “That you Olajide Jones Omokore, Atlantic Energy Brass Development Ltd, Atlantic Energy Drilling Concept Ltd and Kolawole Akanni Aluko (now at large) between May and October 2013 within the jurisdiction of this honourable court, by false pretence and with intent to defraud, induced the Nigerian

Petroleum Corporation (NNPC) and the Federal Government of Nigeria to deliver to you 5,652,227 barrels of crude oil (Brass blend) amounting to the sum of US$616,013,615.27 through the medium of contract, which delivery was induced by the false pretence to wit: that you had technical competence, professional skills and funds (both local and foreign) necessary to support NPDC in petroleum operation for the contract area and you thereby committed an offence contrary to section 1 (1) (b) of the Advance Fee Fraud and Other Fraud Related Offences Act Cap. A6, 2010, Laws of the Federation of Nigeria and punishment under section 1(3) of the same Act.” That you Victor Biggs (while being the Managing Director of the Nigerian Petroleum Development Company, NPDC), Abiye Membere (while being the Group Executive, Exploration & Production of the Nigerian National Petroleum Corporation, NNPC), David Mbanefo (while being Manager, Planning & Commercial of the Nigerian Petroleum Corporation, NNPC) and Diezani Alison-Madueke (at large) (while being the Minister of Petroleum Resources) between 2013 and 2014 within the jurisdiction of this Honourable Court, did abet the commission of money laundering by Olajide Jones Omokore, Atlanatic Energy Brass Development Ltd, Atlantic Energy Drilling Concept Ltd and Kolawole Akanni Aluko, and you thereby committed an offence contrary to section 18 (a) of the Money Laundering (Prohibition) Act 2011 (as amended and punishable under section 15 (3) of the same Act.” The pleaded not guilty when the charge was read to them.

the Tinubu Campaign-induced cash scarcity ravaging the nation at this time. According to Ologbondiyan, "Our campaign is alarmed by the exposed plot by Tinubu Campaign and some APC governors to secretly swap a whooping N22.5 billion in old N1000 new notes in Kano as well as Lagos State, where they will be warehoused for vote buying for the deflated Tinubu campaign. "More disgusting is that the Tinubu Campaign has disgracefully resorted to hypocritical propaganda, shedding of crocodile tears, pointing fingers at others and posturing as champions of the people, when they are the real enemies of Nigerians. "The Tinubu Campaign, in its fear of the looming failures at the February 25 polls, has turned out like a desperate ferocious wolf seeking to devour the people while at the same time trying to cloak itself in the innocent skin of a sheep." He however, noted that it was devastating to see Nigerians sleeping in the cold at ATM centers, assaulted by the elements of nature, fighting one another in banking halls and ATM stalls in the struggle to get some little cash just because the Tinubu campaign and corrupt APC leaders had diverted the new notes for their selfish political reasons. "We find it disheartening that Tinubu and his allies are taking Nigerians from APC-induced seven years of weaponised hunger to a wholesome poverty by triggering this unbearable cash scarcity that has wrecked small businesses, destabilised homes and sunk millions of Nigerians into deeper financial abyss," he said. But Tinubu who spoke in Abuja, yesterday, sympathised with the people especially the downtrodden, who had been made to bear the brunt of the new naira policy by the Central Bank and irregular supply of petrol that had combined to inflict avoidable pains on the masses. "This is a challenging period in the life of our country, when our people are made to stay on the line for hours to get fuel and even get their own money from the banks. I empathise with Nigerians across the country especially the poor masses, who have been made to bear the brunt and pains of the CBN Naira policy and fuel scarcity the most. “While government continues to work to solve these problems, let's stay calm, maintain the peace and continue to shun and avoid any act

capable of causing civil unrest and disharmony. What the opposition and enemies of democracy want is to create a state of national siege and tension that can disrupt the coming general election and create an atmosphere of strife in our country. “We must say no to them. We must be resolute and stand firm to protect our democracy by ensuring we hold our elections in a peaceful and orderly manner. I am in this race to bring renewed hope and prosperity to all Nigerians. There are no challenges that will be difficult for us as a people to surmount when we stand in unity of purpose. “When you elect me, I will work to ensure security, economic prosperity, national unity and cohesion and we will together build a country that will be a source of joy to us all and a pride to every black person everywhere in the world," Tinubu said. While commending the NNPC Limited for the fuel supply relief being enjoyed in the Federal Capital Territory and urged the company to step up its act to bring relief round the country, he also urged the CBN not to be dogmatic in the deadline it has fixed for the transition from old naira notes to the new ones, especially, as the unintended consequences of the policy has been massive pain on the people. Tinubu said he was distressed by news of cash strapped farmers having to sell their products excessively cheap to avoid losing all, adding that, such dispiriting experience in the short term might be a disincentive to our hardworking farmers. The former Lagos governor, however, assured Nigerians that the current challenges would soon be over, even as he pleaded with the people to avoid anything capable of causing unrest in the country even when they were justifiably angry. Speaking yesterday at a session with Nigeria Labour Congress (NLC) delegates, who converged on Abuja to elect new national officers, Obi said the best way for Nigerians to interrogate candidates on their ability to fight corruption was to check their antecedents. “It is not enough for someone to just pledge that he will fight corruption. You check the candidates’ actions in his former places of service and see if did not in anyway compromise and show bias to his relations and friends. Continued on page 34

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WEDNESDAY FEBRUARY 8, 2023 • T H I S D AY

WEDNESDAY, ΀˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

OBASEKI, EDO PDP LEADERS, MEMBERS STRATEGISE AHEAD OF ELECTIONS... L-R: Edo State Deputy Governor, Philip Shaibu; Governor, Mr. Godwin Obaseki; Chairman, Edo State Chapter of Peoples Democratic Party (PDP), Tony Aziegbemi; former Edo State Deputy Governor, Chief Mike Ogiadome, and PDP Chieftain, Francis Olihefu, during the Edo PDP strategy meeting, in Benin City... yesterday

INEC: We’ve Totally Tackled Problems of Underage Registered Voters Seriki Adinoyi in Jos With few weeks to the general election, the Independent National Electoral Commission (INEC) has assured Nigerians that all problems relating to under-aged registered voters have been totally tackled, adding that, “all sensitive materials need for the elections have started arrive Plateau State since last Friday.” Plateau State Residential Electorate Commissioner (REC), Dr Oliver Tersoo Agundu, who said this in Jos, during a stakeholders’ roundtable engagement organised by The ParaMallam Peace Foundation (TP-MPF) in collaboration with Canada Fund for Local Initiatives (CFLI), said, “INEC has totally cleaned the under-aged the register; if you see any left, please don’t hesitate to let the Commission know.” Agundu also assured that all trained personnel that would be used for the elections would be deployed to the 4989 Polling units across Plateau state on or before 23rd of February, 2023.

Meanwhile, President of The Para-Mallam Peace Foundation (TP-MPF), Dr. Gideon Para-Mallam said the engagement was part of the process of addressing election violence, and also to build peace in the society, urging all actors in the elections to eschew violence and conduct themselves peacefully. Speaking on ‘Preventing/Mitigating Election Violence in the Nigerian, 2023 General Elections’, Para-Mallam observed that election violence, if not prevented, could result in peace and security conundrum which creates instability and prolongs the insecurity in the country, adding that, “Nigeria’s democracy needs to be sustained, and to do so, proactive steps needed to be taken.” He said dialogue, which has proven to be an indispensable tool in promoting peace was one of such proactive steps, “and it is why we are gathered here today.” He added, “Among us are people representing Plateau, Kaduna, Benue, and Nasarawa States. These states have suffered

from different forms of violence and often, violence in one state spills over to neighbouring states lending to cross-border violence. This makes it important that we discuss and find ways of promoting peaceful co-existence which will in no small way strengthen our

nation's democracy.” Coordinator of CFLI, Tochie Odele, on her part, said for stakeholders and candidates to be willing to sit together and agree to ensure that there would be no violence in the pre and post elections was a huge progress made already.

Leaders of Isuokom in Ebonyi State have asked President Muhammadu Buhari and the Inspector-General of Police, Usman Baba to intervene in the alleged threat to the life of a candidate of the Peoples Democratic Party (PDP), Ifeanyi Odii, allegedly by agents of the state government. In a petition made available to newsmen in Enugu, yesterday, the leaders accused the governor of the state, Dave Umahi of demonstrating ‘hatred and animosity against Odii, who hails from Isuokom, following his aspiration and subsequent nomination as the PDP gubernatorial standard bearer in Ebonyi State. The petition was jointly signed by President-General of Isuokoma, John Njoku, youth leader, Sunday Igne and diaspora leader, Tony Anoke among other leaders of the community. In the petition, the people alleged that Umahi’s recent outburst against security chiefs and agencies and threat to block and attack the convoys of opposition candidates in the State was clearly targeted at Odii.

They said they were worried by the persistent unveiled verbal attacks and threats to the life of Odii by Umahi whom they also alleged had glaringly demonstrated hatred against Odii. “We had ignored and taken with a pinch of salt the unprovoked dehumanising jibes aimed at Odii by Umahi,” they said. “We continually dismissed Governor Umahi’s aspersions on the personality of Odii as the ranting

Adedayo Akinwale in Abuja President Muhammadu Buhari has said the passing of the First Republic Minister of Aviation and erstwhile federal parliamentarian, Chief Mbazulike Amechi, would leave a vacuum in the sand of history in the country. Buhari, who stated this yesterday while speaking at a ‘Day of Tribute', organised

and whining of an uncomfortable player in a tough contest”. They claimed that Umahi formed the Ebubeagu as a political tool to cow opposition to submission to perpetuate his ‘unpopular political influence in Ebonyi State. They noted that Odii was undeserving of the treatment meted against him by the governor whom he supported during the 2015 and 2019 elections, adding that the Nigerian constitution

FG Congratulates Tems for Wining Grammy Award Olawale Ajimotokan in Abuja The federal government has hailed Nigerian artiste, Temilade Openiyi, popularly known as Tems, for her 2023 Grammy award. The Minister of Information and Culture Alhaji Lai Mohammed, congratulated Tems yesterday, on behalf of the federal government, after she won the “Best Melodic Rap Performance” category at the

ship candidate of Labour Party, Dr. Patrick Dakum, who was also in attendance, said, “peace is very fundamental to any democratic process, especially as the elections are drawing close”, adding that stakes and emotions are now very high.

Buhari: Mbazulike Amechi’s Demise Will Leave Vacuum in Sands of History in honour of Chief Amechi in Abuja, said the deceased always intervened whenever the country was at a crossroads to ensure the nation was at peace. The president, who was represented by Minister of Labour and Employment, Dr. Chris Ngige, described the late elder statesman as a patriot whose lifestyle was worthy of emulation by Nigerian leaders.

Ebonyi Community Seeks Buhari, IGP's Intervention over Threat to PDP Gubernatorial Candidate’s Life

Gideon Arinze in Enugu

She said, “Having all the stakeholders and candidates sign the peace accord to ensure that they will do their best within their capabilities to avoid any form of violence is a stepping stone for Nigeria.” In his remarks, the state governor-

Grammy Awards on Sunday. The minister noted that by dint of hard work and uncommon creativity, Nigerian musicians had continued to take the world by storm and make the country proud. “We hope this remarkable achievement by Tems will spur her to greater heights and serve as an inspiration to other artistes who are also eyeing the highly-coveted honour,” Mohammed said.

gives every eligible citizen of Nigeria the opportunity for political participation.

He said Amechi, popularly called “The Boy is Good” would be missed, saying, “Mbazulike Amechi is an epitome of what every Nigerian leader should be aspiring to be. He was a man of peace and did everything possible to ensure that there is unity and peace in every part of the country.” Buhari narrated how before his demise, Amechi paid him a courtesy call at the Presidential Villa in the company with some notable elders from the South East and requested that the detained leader of the Indigenous People of Biafra, Mazi Nnamdi Kanu be released to him. “The unconditional release of Kanu will not only bring peace to the South East, it will rebuild the trust of the people in your

administration,” the president quoted Amechi as saying, adding that, he stood out as a patriot and lover of humanity. Also speaking, the Chairman of the National Planning Committee for Amechi's burial, Chief Emmanuel Iwuanyanwu, said the foremost Igbo leader lived his life for the course of N'digbo. He confirmed that one of his last public outings was when he led leaders of the South East region to Buhari to plead for the release of Kanu. Presidential Candidate of the Labour Party, Peter Obi, stressed the need for Nigerians to emulate the patriotic and enterprising nature of the late Amechi, and further eulogised him for his love for humanity and nation.

Ibom Icon Hotel UnveilsValentine Offers

Ibom Icon Hotel and Golf Resort Uyo yesterday stated that it was pulling all strings to ensure a perfect romantic and rejuvenating experience for loved one this season. In a statement, the hotel stated that it going the extra mile with very special memorable moments packages that are sure to excite its guests. “The package begins with the Nominate your Valentine challenge, where guests can win a Night stay for two, Brunch for two and 2 Boxes of Pizza. Guests can enter the challenge by picking up the nomination form and telling us what they love about their loved one. Forms are available at the hotel and selected places in Uyo. Winners will be announced at the Valentine’s Day dinner. “Also as part of Valentine’s day celebrations package, guests can celebrate love and friendship

through a staycation with the hotel’s Valentine Getaway Package that offers bed and Breakfast for two, food & drinks, access to the gym, swimming pool, golf course and the Marina. “This package also grants you VIP access to the hotel’s special Valentine day’s dinner with all these starting from N121,666 per couple per night,” a statement explained. For guests, who not staying at the hotel, “but want to experience the world-class hospitality of IBOM ICON Hotel, Uyo, an exquisite celebration of love will take place on February 14 at the Bird Table (Pool Side).” It added: “This will feature a Valentine’s Day dinner and entail a Red Carpet reception, Welcome Cocktail and themed buffet dinner. It will also feature comedy, karaoke, a live band, games, a love tunnel,

gifts exchange, spoken word, dance, complimentary photos and prizes. “Keke and Radio Mummy will be the main hosts amongst many others like Captain Edet, DJ Bobo, Kayeon, Lady Willa and the Band. The dinner will cost N30,000 per couple for VIP Tables and N100,000 per couple for VVIPs in the Love Booth.” Speaking about the special offers for this year’s romantic celebrations, IBOM ICON Hotel’s General Manager, Charles Muia, stated that the hotel had concluded all arrangements to make this a memorable Valentine’s Day. “Our goal is to bring couples close under an atmosphere of love and affection. It is our pleasure to curate loving memories for all who choose IBOM ICON Hotel and Golf Resort, Uyo for this Valentine’s season and beyond,” Charles added.

WEDNESDAY FEBRUARY 8, 2023 • T H I S D AY

WEDNESDAY FEBRUARY 8, 2023 •T H I S D AY

WEDNESDAY FEBRUARY 8, 2023 • T H I S D AY

T H I S D AY ˾ WEDNESDAY FEBRUARY 8, 2023

MIDWEEKPOLITICS

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

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Lawan’s Rough Road to Secure APC’s Yobe North Senatorial Ticket In a split judgment of three to two justices, the Supreme Court, citing technical blunders committed by Bashir Machina’s legal team, has declared Senate President, Dr Ahmad Lawan, as the All Progressives Congress’ candidate for Yobe North Senatorial District. Sunday Aborisade in this piece, chronicles Lawan’s tough journey to victory

he disputed All Progressives Congress (APC) Yobe North Senatorial ticket has been finally laid to rest by the Supreme Court on Monday with it’s affirmation of the Senate President, Dr Ahmad Lawan, as the validly nominated candidate for the February 25, 2023 National Assembly elections. The judgement, in effect, set aside the earlier judgements of the lower courts which declared Machina as the candidate. The majority decision delivered by Justice Centus Nweze, set aside both the decisions of the Court of Appeal and trial court which earlier affirmed Machina as the candidate. Nweze declared that the lower courts lacked the necessary jurisdiction to hear the suits because it was commenced by originating summons. He clarified that the dispute in the case was one that cannot be resolved without oral evidence, especially in proving allegations of fraud. However , in their dissenting decision, Justices Emmanuel Agim and Adamu Jauro, upheld the concurrent judgment of the lower courts which dismissed the case of the APC. They held that the lower courts were right in declaring Machina as rightful candidate for the Yobe North election since, Lawan never participated in the APC primary held on May 28, 2022, when he withdrew voluntarily to participate in the presidential primary held on June 8, 2022. The minority decision said the conduct of another primary on June 9, 2022 where Lawan emerged was in breach of Section 84 (5) of the Electoral Act as the APC never cancelled the May 28 primary before organising another, which later produced Lawan. Justices Jauro and Agim therefore deemed the conduct of the second primary held on June 9 as illegal. The minority decision further stressed that Lawan can not emerge as candidate in a primary election where he never took part in. A declarative order from the minority decision awarded the cost of N3 million against the APC for bringing a suit that is incompetent. Nevertheless, the majority verdict was upheld and Machina lost the ticket to Lawan. Speaking with journalists after the judgement had been delivered, Lawan said it was victory for his party, (APC) and democracy. According to him, “The Supreme Court Judgement of today on Yobe North is a victory for all APC members in Yobe State and across the country. “What happened was democracy at work. The lower courts gave their various judgements and then the Supreme Court gave the final judgement. “I want to commend the Supreme Court and infact the judiciary generally for delivering this kind of judgement to strengthen our democracy. “Let me take this opportunity to thank our party, the All Progressives Congress(APC) for taking this matter to the Supreme Court. “Actually, I didn’t, as an individual, go to the Supreme Court to seek redress. But my party did and my people, the people of Yobe North and Yobe State generally and many political associates and well wishers and supporters across the country who showed interest that there has to be an appeal at the Supreme Court on this matter. “So today, this victory is for all of us involved. I am the symbol but the victory is for our party, the APC and for democracy. “I want to thank all my colleagues in the Senate for the support, for the love, for the partnership and I want to recommit myself to ensuring that the leadership of the Senate will continue to lead very well, will always be appreciative of our colleagues who have given us the mandate to lead the ninth Senate. “Now, we will be looking at the 25th of February when the Presidential and National Assembly elections will take place. By the Grace of God, Nigeria will vote APC once

Lawan

Machina

again. “On the 25th, the Presidential candidate of the APC, Asiwaju Ahmed Bola Tinubu, Jagaban Borgu, will be voted the President of Nigeria by the Grace of God, alongside Distinguished Senator Kashim Shettima, our brother, who is the vice Presidential candidate. “And when it comes to the Senatorial candidate and House of Representatives, you know what it will be. It will be a landslide majority for the Senate APC and at the same thing landslide majority of members in the House of Representatives. “We intend to continue to give Nigeria leadership. To continue with those programmes and projects that we have been doing very well and re-think, re-work and re-tool those that we think we have not done very well. This, I believe, will make Nigeria better.” Efforts to speak with Machina failed as of the time of filing this report but the Yobe chapter of the APC has set up a reconciliation committee to reach out to him and his supporters. The Chairman of the party in the state, Mohammed Gadaka, told newsmen that reconciliation was the immediate measure that the party would adopt at the moment instead of going about celebrating victory. Gadaka noted the decision of the Supreme Court is victory for the party and not against any individual, stressing that the party will work very hard to deliver victory at the polls on February 25. He said the deputy chairman of the party, Alhaji Mohammed Ala-Mai, will chair the reconciliation committee, while the Political Adviser to Governor Mai Mala Buni, Alhaji Aji Bularafa, will serve as secretary of the committee. APC Yobe Secretary, Abubakar Bakabe, will also serve as a member in the committee.

Lawan had after the verdict of the Appeal Court, vowed not to challenge the Appellate Court judgment but the APC filed a suit against the candidature of Machina before the apex court as it claimed Lawan was the authentic Senatorial candidate for Yobe North in the 2023 election. The APC approached Supreme Court after both the Federal High Court and the Appeal Court had upheld Machina’s victory at the APC primary election. The counsel for the APC, Sepiribo Peters, at the last hearing had argued that the primary election held on 28 May last year which produced Machina was in breach of the Electoral Act 2022. Peters contended that one Danjuma Manga who conducted the primary election which produced Machina was not nominated by the National Working Committee (NWC) of the party. He told the court that the APC cancelled the primary poll on account of the irregularities observed during the exercise. Peters argued that the other primary held on 9 June was conducted by the APC NWC, and produced Lawan as the party’s authentic candidate. However, Machina’s lawyer, Sarafa Yusuf, prayed the Supreme Court to dismiss the appeal for lacking in merit on the ground that the Senate President did not challenge the suits at both the trial and lower courts. He also pointed out that Manga who conducted the primary election where Machina emerged, was a member of the NWC-appointed Committee to carry out the exercise. Justice Centus Nweze, however, in a majority judgment of the Supreme Court on Monday faulted the approach of Machina in commencing the suit at the Federal High Court Damaturu division by way of originating summons and without oral evidence to prove allegations of fraud. The Justice thereafter declared Senate President Lawan as the authentic APC candidate for Yobe North. Nigerians immediately after the verdict on Monday, took to their Twitter handles to lash out at the Supreme Court. The younger generation expressed mixed reactions, on their Twitter handles. For instance, @JosephOnuorah wrote,

Most of these comments targeted against the Supreme Court’s decision under reference are misconceived, particularly from the perspective of the law. The Supreme Court only delivered judgement based on the case presented before them. And it is a sound judgement. The concept of justice is not about a crying baby who runs to his sweet mother. Unlike the empathetic mother, the Supreme Court has the obligation to decide any matter based on its peculiarities

“My people – I am dumbfounded by this Supreme Court Judgement – What is really happening in Nigeria? @YesufuYesufu1 wrote, “Our Supreme Court is just taking advantage of the fact that it’s the Court of final resort. @ujunwa, wrote, “ One of Nigerians biggest problems is the Judiciary, Imagine going to court with someone who actually contested for primaries and won, and the Supreme Court declares me winner, me that did not do primaries!!! @AM_Saleeem wrote, “Recall; Ahmad Lawan didn’t participate in the primaries, he resigned contested for President and later came back to reclaim his position. I’m losing hope in the forthcoming elections already.” @MercyEgbai wrote, “Just as Hope Uzodinma of imo State is known and addressed as the Supreme Court administrator, Ahmad Lawan will be known as the Supreme Court Senator if elected. The APC have destroyed our judiciary and the country at large” However, @adamugarba, wrote, “ I congratulate Senator Ahmad Lawan on his Supreme Court victory. I marvelled as to the bank of legislative experience we could have lost if Lawan didn’t come back to the senate. It’s God’s will” @Marvy_olu wrote, “Machina won the senatorial ticket unopposed. Ahmad Lawan lost his cabal-induced presidential bid and decided to hijack Machina’s ticket. Both the Federal High Court and Court of Appeal affirmed Machina’s victory. How did the Supreme Court get so compromised?” @novieverest wrote, “Do you know the funny thing about Machina’s loss? It was done at the Supreme Court so he can’t appeal. They didn’t do the scheme at the lower courts. So people can be outraged but nothing can stop Ahmad Lawan.” However, a constitution lawyer, Kayode Ajulo, cautioned Nigerians against venting their anger against the Supreme Court justices. He said, “Let’s be real and reason like lawyers, most of these comments targeted against the Supreme Court’s decision under reference are misconceived, particularly from the perspective of the law. The Supreme Court only delivered judgement based on the case presented before them. And it is a sound judgement. The concept of justice is not about a crying baby who runs to his sweet mother. Unlike the empathetic mother, the Supreme Court has the obligation to decide any matter based on its peculiarities. “To say in public, like some have been doing, that the judgement is ridiculous is contemptuous. A better appreciation of our justice system will reveal that what the court considers is cold facts and not emotions. If anyone should be blamed for the controversy this decision has generated, it is the political party, APC. The whole world is aware that Ahmad Lawan participated in the APC presidential primaries. “Pursuant to section 115(d) of the Electoral Act, a candidate cannot be nominated in two elections. So, it was the party that decided to forward Ahmad Lawan’s name to INEC, that ironically Ahmad Lawan as the Senate president and other law makers created”. Ajulo added that Bashir Machina, feeling cheated, was within his right to recover his mandate. However, he said the facts of the case remains that the grouse of Machina deals with fraud and should have been instituted by way of Writ of Summons and not Originating Summons like Bashir Machina did. He said, “Although the Federal High Court practice direction says that Pre-election matters be instituted by way of Originating Summons, the Supreme Court has held in a plethora of authorities that the Rules of Court supersedes a practice direction. And by the rules of Court, an allegation of fraud should be brought by way of Writ of Summons. This has been the consistent holding of the Supreme Court in a plethora of matters and it won’t stop now.”

T H I S D AY ˾ WEDNESDAY FEBRUARY 8, 2023

POLITICS

Niger Governor at Daggers Drawn with Senate Deputy Whip Borgu Local Government Area of Niger State, unarguably one of the largest administrative councils in Nigeria, based on population and landmass, is in deep political crisis which could aﬀect the chances of the All Progressives Congress in the forthcoming general election, in the area. Reports Sunday Aborisade

ew Bussa Town, the administrative headquarters of Borgu Kingdom, one of the 25 local government areas of Niger State, would have engulfed in a political conflagration which could have taken months to quell but for the great display of maturity and political sagacity exhibited last Tuesday by the Senator representing Niger North Senatorial District who is also the Deputy Whip of the Senate, Aliyu Sabi. A massive crowd of residents from various communities in the LGA made up of the Bokobaru, Busa, Hausa, Nupe, Fulani, Kambari (Acipu), Yoruba, Laru,Hun-Saare, Lopa, Igbo and other ethnic nationalities across the West African sub-region, had prepared to participate in a ‘Grand Lockdown Rally’ for the presidential and vice presidential candidates of the APC, Asiwaju Bola Tinubu and Senator Kashim Shettima respectively. Scheduled to attend the rally were President Muhammadu Buhari; Senate President, Dr Ahmad Lawan; Tinubu and Shettima; Niger APC Governorship Candidate, Umar Mohammed Bago; his running mate, Yakubu Garba; Senator Sabi Abdullahi (the Chief Host) and the Emir of Borgu Kingdom, HRM Mohammed Sani, among other top APC chiefs across the country. The event, according to the Chairman of the Organising Committee, Mohammed Garba Danladi, was also intended to honour the Late Emir of Borgu Kingdom, Senator Haliru Dantoro Kitoro III, who served in the Senate with Tinubu during the botched Third Republic and later, before his demise, conferred the prestigious title of the Jagaban Borgu, on the APC presidential flag bearer. Invited guests, APC leaders, their supporters and well wishers received the greatest shock of their lives when they approched the New Bussa Township Stadium, venue of the rally, and were stopped from gaining access to the

Bello

Abdullahi

facility which was a day, earlier inaugurated by Sabi Abdullahi, who renovated and remodelled it as part of his constituency project. Armed security personnel from the Nigeria Police Force, the Department of State Service, the Nigerian Security and Civil Defence Corps, the Federal Roads Safety Corps, other paramilitary agencies and local vigilante groups, manned the entrance of the stadium while three patrol vans of the Nigerian Army loaded with armed personnel, were also seen patrolling the stadium area. Investigations by THISDAY revealed that the development was a fallout of the rivalry between the Niger State Governor, Abubakar Sani Bello, since he stopped the incumbent Senator representing his Senatorial District, Sabi Abdullahi from return-

ing to the Senate by contesting and winning the APC ticket for Niger North Senatorial District, in controversial circumstances. The Governor, according to the result declared by the returning officer for the Niger North, Adamu Abdulkareem, on May 29, 2022 polled 343 votes to defeat the incumbent Senator, Aliyu Abdullahi Sabi who got seven votes.. Abdulkareem then declared Bello winner at the end of the exercise in Kontagora, the headquarters of Kontagora local government area of the state, where the Governor hails from. The cold war between Bello and Abdullahi started from that very day and manifested last week. Further findings by THISDAY revealed that the Governor was unhappy that as the sitting governor and senatorial candidate, he was neither recognised nor given a role to play at such a prestigious rally that would attract creme de la creme of the ruling party. However, the State Working Committee of the party in a statement in Minna had on

Monday, which was a day before the event, by the Publicity Secretary, Mallam Musa Dan Sarkindaji, a copy which was made available to THISDAY, said the Chairman of the party, Hon Haliru Zakari Jikantoro, has disassociated itself from the rally. The statement, titled “NigerAPC Disassociated Herself From Lockdown Rally in Borgu” also directed all party faithful not to honour and attend such rally, claiming that the planned rally contravenes unified campaign structure as designed by the party. Part of the statement reads, “The All Progressives Congress (APC) in Niger State under the leadership of Hon Haliru Zakari Jikantoro has disassociated itself from lockdown rally organised in New Bussa, Borgu Local Government Area of the State. “The party wishes to draw attention of all party faithfuls not to honour and attend such rally as it contravened with the unified campaign structure as designed by the party”. The Party then urged its executives, stakeholders and party loyalists not to attend the grand zonal rally which had been scheduled for Wednesday 2nd of February, 2023 in Bida, headquarters of Bida Local Government. Senator Abdullahi, who is the main organiser of the programme had through his Special Assistant (operations), Mohammed Garba Danladi in a letter dated 27/01/2023 and addressed to the state Party Chairman, Hon. Haliru Zakari Jikantoro notified the party of the planned rally. Abdullahi in the letter, sighted by THISDAY, also stated that the State Working Committee of the party was invited to the Grand Lockdown Rally for the candidates and their running mates on the need to galvanize support and positively enhance the party at the polls. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Tinubu’s Bag of Promises for Anambra People David-Chyddy Eleke reports about the huge crowd that assembled recently in Awka for the Presidential Candidate of the All Progressives Congress, Asiwaju Bola Tinubu and his promises to the people of Anambra State.

s early as 8am last Tuesday, Alex Ekwueme Square, a popular event centre in Awka, Anambra State capital was already brimming with huge crowd, this is as more buses from every party of Anambra State continued to pour into the centre for the rally of the APC presidential candidate, Asiwaju Bola Tinubu. By 11am, the entire arena has been overtaken by human presence, with many masquerades, dance groups and political pressure groups all dressed in the APC regalia. Many were dancing or marching round the arena with the posters of their preferred candidates in the APC for one political position or another. The arena was not only filled with the masses, but the VIP stand was also fully packed with many bigwig politicians of the party as they all waited for the arrival of the presidential candidate. One thing that was clear about the gathering was the mobilization strength of the APC and its legmen in Anambra. The venue of the rally was lit with colourful decorations, just as members of the party were able to attract people from all parts of the state. Many described the huge crowd as a sign of victory for Tinubu in Anambra State. Ichele Agulu, a member of the party and the compere of the event insisted that the crowd is a sign of the love the people of the state have for Tinubu. He said: “This crowd is indicative of the love Anambra people have for Tinubu and the APC. Come February 25, our people are ready to vote for APC.” Also, the chairman of the party in the state, Chief Basil Ejidike said: “Anambra is the melting pot of South east politics, and Anambra people are ready to show that APC is the party to vote, and also to be connected to the national grid.” However, there are others who believe that only Tinubu’s weath could have mobilized the huge crowd that attended the rally. An analyst, Mr Jim Uzor who spoke to THISDAY at the rally said: “Crowd at rallies is not what

Tinubu

wins elections. The people you see here may have been mobilized with cash too. One thing you cannot take away from the crowd at this rally is that it is indicative of the ability of Tinubu and APC to mobilize. Not even APGA, PDP or LP have been able to gather this kind of crowd in Anambra, but again, the crowd is not an indication of support for the candidate. “There are three major categories of people who are here today. The largest number are those who were mobilized from the hinterlands of Anambra, with a promise of payment. You cannot describe them as supporters of APC. The second category are people who came to see if the candidate is truly healthy, of even to amuse themselves with one of his gaffes, while the last category, who may be truly few are staunch

party members.” A party official, Dr Ijeomah Arodiogbu, the APC Zonal Chairman, South East, in an interview countered allegations of a rented crowd, saying: “The popularity of the APC candidate, Senator Bola Tinubu in Anambra is very high. The rally in Awka has confirmed that our party is ready to take the South-east. The people you saw during the rally are pure party members from all parts of the state. We did not hire people to come to the rally. These are people who are on ground, and who are ready to vote for our party once the election comes.” Meanwhile, many people who attended the rally complained of not being paid, while others said their expectations in terms of payment were not met. A man who simply identified himself as Mr Aloy expressed unhappiness that after being mobilized to the rally from Umunze in Orumba South, he was given only N1,000 as payment. “I left my house as early as 6am to join other people at a primary school field for onward movement for Awka, and we arrived Awka at about 8am. What is the time now, it is past 7pm, and I’m still in Awka, just for N1,000. This is disgrace for me. I am a carpenter, if I stayed back at Umunze today, I would have been able to accomplish something,” the man retorted. He accused the man who mobilized them from Umunze in Orumba South LGA to Awka, saying he may be responsible for hiding money released to take care of people from the local government: “No, it is our coordinator, Mmirimarugo that deceived us. He may have been given a lot of money to give to us, but he is giving us N1,000 each.” Meanwhile, at about 7pm on same day, students of Nnamdi Azikiwe University were still stranded at Ekwueme Square, where they were making calls to their SUG president, over their mobilization fee. The students union government of the institution had during the rally read out a letter at the rally, endorsing Tinubu.

However, Tinubu’s speech in Awka can be rated as the most beautiful in all his rallies across the country. Unlike some states where he could not as much as speak to his supporters, or made speeches that were ridden with incoherence, in Awka he made glowing promises of what he intended to do if he wins the presidency. He also personalized it to Anambra State. Tinubu said: “You will have industrial hub in Anambra. We are not like PDP that forgot your rail line. They are liars. You want to make Anambra a highly dependable state right? That is the memory of my dear friend Chuba Okadigbo. That is what we will continue to carry on - the joy of Chuba Okadigbo. Youths of Anambra, I’m here today to concretize the promise of development that will promise you restoration and industrialisation. “You know me, you know Tinubu, the city boy of Lagos? You know I had the Atlantic tamed in Lagos. The way we tamed Atlantic Ocean is the same way we will tame the erosion in the eastern region. We will tame the erosion. We will make the value of your property worth more than 1,000 time of your investment. We will create jobs for our youths. We will industrialize and make Anambra both the economic city and the economic centre of Nigeria. Your resources will be applied to create handwork and hard work, better paying jobs. “We are not like the other party that come here to lie to you. Tell them when they bring their lie, ask them how long will it take their lies to travel from Port Harcourt to Onitsha, Onitsha to Aba? You see their lies, for 16 years, PDP lied that they will give industrialisation, but instead they sold our assets to themselves and they called it privatization. Privatization to their own pockets. They privatized the industry to their pockets. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY FEBRUARY 8, 2023 •T H I S D AY

T H I S D AY ˾ Ͷ˜ 2023

FEATURES

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

Stepping Up Development of Local Dairy Industry In renewing its Memorandum of Understanding, Precious Ugwuzor reports that Outspan and Kano Dairy have stepped up development of local dairy industry

xtensive private sector participation in the agriculture sector is key to achieving faster growth. Hence, the federal government continues to encourage scaled engagement and investment in the sector by agribusinesses. It is believed that by providing the right incentives for these players to pivot to backward integration programmes as part of their operating models, the heavy reliance on food imports, the consequent burden of food insecurity and FX scarcity can be addressed. This is it. The private sector’s participation in the agriculture sector can help the smallholder farmers operating in the production segment of the value chain have access to a ready market for their produce. They can also benefit from institutional training and support and mobilisation of finance, where necessary, through innovative support solutions. Activating these levels of contribution for the local agriculture value chain would serve as a timely game-changer. Meanwhile, a segment of the agriculture industry that requires urgent private intervention is the dairy sector. It is reported that Nigeria has the fourth largest cattle population in Africa. Precisely, there are about 20 million cattle in the country; yet, the country has not been able to tap this huge cattle population advantage to raise its milk production level. Presently, local milk production output is 0.01 per cent of the overall global output. Considering the potential of the sector, this meagre output level is not acceptable. The challenges hampering productivity in the local dairy sector are numerous. Highlighting these challenges, Dr Musa Suleiman, a dairy consultant who has worked on World Bank-assisted agriculture development projects, said, “When you look at the dairy industry in Nigeria there are about three to four key challenges confronting local dairy farmers. One is low milk yield associated with lack of access to affordable quality feed all year round and poor cow breeds. Two is poor pricing of fresh milk. Three is the perishable nature of the fresh milk due to lack of cold chain and transportation services.” However, in line with the federal government’s dairy industry development agenda, one private firm which has taken the lead in addressing the challenges undermining the productivity of the industry in the past few years is Outspan Nigeria Limited, a subsidiary of ofi (olam food ingredients). The business continues to demonstrate its support for the government’s economic growth aspirations, as the government focuses on building the non-oil sector’s contribution to the GDP. Through a partnership with the Kano Dairy and Livestock Husbandry Cooperative Union (KADALCU), Outspan has been able to establish four milk collection centres (MCCs) close to the smallholder dairy farmers in Kano State to address the challenges of milk collection locally. The centers are equipped with adequate cooling systems powered by off-grid equipment to preserve the milk quality for off-takers. It has provided quality animal feed and carried out artificial insemination, vaccination exercises to improve the health of cows and their productivity level. The business has also trained the smallholder dairy farmers, donated transportation and cooling systems to further optimize the milk quality for industrial use. These intervention efforts are impacting the local economy and livelihoods of farmers positively. According to the chairman of the Kano Dairy and Livestock Husbandry Cooperative Union, Mr Usman Abdullahi Usman, “One of the goals of the union is to generate direct and indirect employment opportunities for the youth. With the intervention of Outspan Nigeria Limited, we have been able to achieve this aim by securing motorbikes and tricycles, which have been issued out to the youth

L-R: Mr Vipin Patel, National Sales Operations Manager, Dairy, Outspan Nigeria; Mrs Bilkisu Mahe Wali, Branch Controller, Central Bank of Nigeria, Kano; and Alhaji Ahmad Inuwa Kadani, Deputy Chairman Kura Local Government Area of Kano, during the opening of a new Milk Collection Centre (MCC), by Outspan Nigeria Limited in partnership with the Kano Dairy and Livestock Husbandry Cooperative Union (KADALCU) in Kura LGA, Kano

L-R: Alhaji Usman Abdullahi Usman, Chairman Kano Dairy and Livestock Husbandry Cooperative Union (KADALCU); Mrs Bilkisu Mahe Wali, Branch Controller, Central Bank of Nigeria, Kano; Alhaji Ahmad Inuwa Kadani, Deputy Chairman, Kura Local Government Area, Kano, and Alhaji Balarabe Kura Muhammed, who represented the District Head of Kura, during a tour of one of the MCCs donated by Outspan Nigeria Limited to KADALCU in Kura LGA, Kano

vendors to go to the Fulani clusters and collect the milk for processing at the milk collection centres.” Presently, the firm is extending its impact in the dairy sector. In December 2022, it renewed the Memorandum of Understanding with KADALCU to deepen the scale and impact of its backward integration programme in the sector. This renewed partnership will help develop the local dairy sector. Speaking on the significance of the partnership framework, Praveen Paulsamy, the Vice President of ofi Dairy in Nigeria, said, “We are

Alhaji Usman Abdullahi Usman, Chairman Kano Dairy and Livestock Husbandry Cooperative Union (KADALCU) (left) and Mr Praveen Paulsamy, the vice president of oﬁ Dairy in Nigeria (right), during the MoU renewal signing session with KADALCU, recently

glad to have come this far in our local dairy value chain development journey. The Kano Dairy Union has proven to be an invaluable partner in this journey. It is only fitting to extend our partnership actions to keep scaling the development of the sector in line with the FG’s agriculture development and food security aspirations.” Paulsamy explained that the renewed MoU would help Outspan sustain its investment in the dairy sector as well as move to the next phase of its multi-year sectoral development plan to help address the challenges around improving milk production in the country. In addition to other efforts undertaken by various industry players, it is believed that

The renewed MoU would help Outspan sustain its investment in the dairy sector as well as move to the next phase of its multi-year sectoral development plan to help address the challenges around improving milk production in the country

the overall backward integration programmes embarked upon by Outspan will have a positive impact on the agricultural and economic development master plan of the government. Hopefully, smallholder dairy farmers will be able to increase their daily milk production level as more investments are likely to be channeled into the value chain. Olam food ingredients (“ofi”) is a new operating group born out of Olam. ofi offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love. It consists of industry-leading businesses of cocoa, coffee, dairy, nuts, and spices. Ofi has built a unique global value chain presence including its own farming operations, farm-gate origination, and manufacturing facilities. ofi partners customers, leveraging its complementary and differentiated portfolio of ‘on-trend’ food products, to co-create solutions that anticipate and meet changing consumer preferences as demand increases for healthier food that’s traceable and sustainable.

20 T H I S D AY WEDNESDAY FEBRUARY 8, 2023 TR

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& RE A S O

Wednesday February 8, 2023 Vol 27. No 10162

opinion@thisdaylive.com

www.thisdaylive.com

BOOSTING NIGERIA’S DIGITALISATION PROCESS The National Tier IV Data Centre will enhance knowledge-based economy, writes HASSAN BASHIR IBRAHIM

See page 21 ARTIFICIAL INTELLIGENCE: NEXT FRONTIERS FOR TECHNOLOGY SONNY ARAGBA-AKPORE writes that AI will drive sustainable development

See page 21 EDITORIAL

TACKLING THE CANCER SCOURGE

OLUDAYO TADE urges the electorate to vote wisely

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The National Tier IV Data Centre will enhance knowledge-based economy, writes HASSAN BASHIR IBRAHIM

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SONNY ARAGBA-AKPORE writes that AI will drive sustainable development

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22 4

T H I S D AY

WEDNESDAY FEBRUARY 8, 2023

EDITORIAL

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

TACKLING THE CANCER SCOURGE Cancer is a public health emergency. It demands adequate attention from government

burden by 2050”. he World Cancer Day was commemorated While the alarming rate of death from cancer points last Saturday with the theme ‘Close the care to the state of healthcare in Nigeria, it is important for Gap: Uniting our voices and taking action’. critical stakeholders to understand the danger the disease But it was somehow muted in Nigeria poses to the future of our country. It is bad enough that despite recent reports that our country has cancer is a terminal disease, it is worse when most recorded over 10, 000 new cancer cases since Nigerian medical centres lack the diagnostic capacity to the beginning of this year. The revelation, made by the quickly detect and treat infections. Mortality is relatively founder of the Medicaid Cancer Foundation and Kebbi higher in less developed countries like Nigeria due to the 6WDWH )LUVW /DG\ =DLQDE 6KLQNDÀ %DJXGX GLG QRW VHHP lack of access to treatment facilities, and late diagnosis. to have agitated relevant authorities. While nobody That should encourage discussions on how to fashion knows what has happened to the cancer fund established both preventive and curative solutions at all levels of the in 2019 by the federal government, no fewer than 78,890 society. cancer-related deaths were recorded in 2020, according With the establishment to the president of the of the Basic Health Care Nigerian Cancer Society Provisions Fund (BHCPF) (NSC), Adamu Alhassan and health insurance Umar. Increased awareness campaigns, improvements in public health and increased schemes at both the national With data showing that and state levels, the country the cost of cancer treatment funding for health care initiatives - by government, and donor agencies are all has been tilting towards and management is not in Universal Health Coverage sync with the income of likely to lead to a decrease in the incidence of the killer disease (UCH). There is therefore a PRVW 1LJHULDQV VXͿHULQJ need to inculcate cancer care from any type of the into all UHC programmes disease, government and T H I S D AY since poor Nigerians cannot pay out of pocket. This other stakeholders must put a framework in place to EDITOR SHAKA MOMODU framework must ensure Nigerians, irrespective of HQFRXUDJH HDUO\ GLDJQRVLV DQG DFFHVV WR DͿRUGDEOH DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA location, get unfettered access to healthcare services for treatment and management. This, it is believed, would MANAGING DIRECTOR ENIOLA BELLO diagnosis, treatment, and management of cancer, while prevent late-stage diagnosis as well as help those DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU the government sets aside from the insurance pool, CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI VXͿHULQJ IURP WKH VFRXUJH WR JHW SURSHU WUHDWPHQW RU funding to tackle their challenges. Cancer is preventable EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN management without them worrying over who pays the MANAGING EDITOR BOLAJI ADEBIYI and treatable during its early stage, and Nigerians bill. THE OMBUDSMAN KAYODE KOMOLAFE deserve this. According to recent data, about 72 per cent of cancer The task of saving citizens from the cancer scourge patients in Nigeria pay out of pocket for their care, an remains essentially with government which must action not in tandem with reality since many are unable to provide both the basic facilities to combat the disease and T H I S D AY N E W S PA P E R S L I M I T E D DͿRUG LW )RU LQVWDQFH D PDVWHFWRP\ ² D VXUJHU\ WR UHPRYH to create the enabling environment that can facilitate the EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA a breast - typically costs around N250,000—an amount GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, collaboration of the private sector in tackling the menace. far beyond the reach of most patients. Meanwhile, most ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI Increased awareness campaigns, improvements in public common cancers in adults include breast (16.5%), cervical DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, health and increased funding for health care initiatives - by (13.1%), prostate (9.4%), colorectal (6%), and liver (4.6%), ANTHONY OGEDENGBE government, donor agencies, and development partners contributing to nearly half of the new cancer cases. “With DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI - are all likely to lead to a decrease in the incidence of VLJQLÀFDQW GDWD FKDOOHQJHV FKLOGKRRG FDQFHU LQFLGHQFH SNR. ASSOCIATE DIRECTOR ERIC OJEH the killer disease. Nigerians themselves must also begin ASSOCIATE DIRECTOR PATRICK EIMIUHI in sub-Saharan Africa is estimated at 56.3 per million CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI to imbibe the culture of regular medical check-ups so population,” reveals the World Health Organisation DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO they can commence treatment of any diagnosed ailment (WHO). “Current projections indicate that Africa will TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com promptly before it gets too late. account for nearly 50% of the global childhood cancer

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

LETTERS A NATION TRAPPED IN RUBBLES In a country where everything is a problem, it is perhaps only little surprising that everyday new problems continue to spring up with potency to torment Nigerians alongside old problems. Fuel queues have recently reappeared to tag along the freshly squeezed queues for cash in many banks. Add these to Nigeria’s ponderous bureaucracy which has been around for a very long time and it would seem at once that WKHUH LV D GHOLEHUDWH DWWHPSW WR VXͿRFDWH 1LJHULDQV Living in Nigeria stopped being enjoyable long time ago. The drudgery hits especially hard these days as people do all they can to scrape by and survive till the next day. Nothing is guaranteed in the country, not even the simplest things that were hitherto taken for granted. These days, everything evokes a massive struggle as citizens desperately try to escape the massive stranglehold of poverty, insecurity, dereliction and dysfunction. In many ways, the metaphor of a collapsing house is perfect for Nigeria - a compromised country that is primed to collapsed. However, Nigeria’s recent experience of collapsing buildings has not been metaphorical at all. If anything, it has

been raw, rasping and reprehensible. It was mostly in Lagos last year that building after building collapsed trapping many people in their ruins. While some lost their lives in the most agonizing way possible, others were left to pick up the pieces of their shattered lives as surely as rubbles of the collapsed buildings were left for machines and their operators. It is just the second month of a new year, but it would appear that Nigeria is yet to see the last about collapsed buildings or hear the last of its sickening crash. On Thursday February 2, 2023 a two-storey commercial complex still under construction in the Gwarinpa area of Abuja collapsed killing three people and trapping many others under its rubble. This brought back memories of the building collapse which killed two persons and trapped many others in the Kubwa area of Abuja on August 25, 2022. It is worrisome that this continues to happen and the fact that buildings continue to collapse with alarming frequency suggests that not enough is being done to check what has become a disastrous challenge.

Lagos State has seen a spike in the number of building collapses like the one that claimed no less than eight lives in the Ebute Metta area of the state in May 2022. Since 2005, at least 152 buildings have collapsed in Lagos, according to a South African university researcher investigating construction disasters. According to documents obtained from the Building Collapse Prevention Guild 271 building collapses were recorded in the country in the last 10 years with as many as 115 of the cases occurring in Lagos State. Perhaps the most notable of the cases was the collapse of a part of a multiple-storey building inside the Synagogue Church of All Nations, (SCOAN), which left more than 80 worshipers dead, while several others were critically injured. Many factors have been blamed for the constant collapses bordering on excessive loading, use of substandard materials, faulty design, poor workmanship and weak foundation. Yet, what is clear beyond everything else is that Nigeria can no ORQJHU DͿRUG ZKDW LV DQ XJO\ VWDLQ RQ WKH IDFH RI WKH FRXQWU\ Kene Obiezu, keneobiezu@gmail.com

T H I S D AY ˾ WEDNESDAY, FEBRUARY 8, 2023

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

7 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Budget Deficit: How FG Raised N28.62trn via Savings Bonds in 3 Years

Kayode Tokede As the federal government continued to borrow from local investors to bridge budget deficit, the government’s exposure to savings bonds alone grew to N28.62 trillion between 2020 and 2022, THISDAY investigation has revealed. THISDAY analysis bond auction numbers during the period showed a sharp increase in investors’ patronage

for FGN Savings Bond in 2022. The 2022 patronage is the highest since the FGN Savings Bond was launched in 2017 and it was driven by higher interest rate compared to the interest rate on Treasury bills (TBs) amid 21.34 per cent inflation rate. The Debt Management Office (DMO) in 2017 launched FGN Saving Bond for retail investors that guaranteed interest payment

and repayment of the principal. Furthermore, the FGN Saving Bond was introduced to deepen the national savings culture and diversify funding sources for the government. The FGN Savings Bonds are issued monthly in tenors of 2 and 3 years. A breakdown revealed that local investors investment in the FGN Savings Bonds rose by 97.6 per cent Year-on-Year, (YoY) to N16.59 trillion

in 2022, from N8.4 trillion in the corresponding period of 2021. The DMO in 2020 had raised a sum of N3.67 trrillion and the amount raised was truncated by COVID-19 pandemic as the FGN savings was offered only 8 times. Meanwhile, the coupon rate on 2-year and 3-year FGN Savings Bond rise to 12.255 per cent and 13.255 per cent in December 2022 above the 7.322 per cent and 8.322 per

cent interest rate offered in 2021. In 2020, the coupon rate on 2-year and 3-year FGN Savings Bond closed December at 1.320 per cent and 1.820 per cent from 7.144 per cent and 8.144per cent the DMO offered in January 2020. THISDAY analysis showed that investment in 2-year FGN Saving Bond rose by 96.3 per cent YoY to N5.04 trillion in 2022 from N2.57 trillion in 2021.

Similarly, investment in the 3-year FSB rose by 98.17 per cent YoY, to N11.54 trillion in 2022 from N5.83 trillion in 2021. The appetite for FGN bonds indicates that Pension Funds Administrators (PFAs), and Nigerian investors prefer investment instruments with less volatility that assures them of their capital returns Continued on page 26

NAICOM to Focus on Migration of Insurance Industry to Risk-based Capital Supervision Ebere Nwoji The Commissioner for Insurance, Mr Sunday Olorundare Thomas, has said that he would this year direct his regulatory attention to migrating the entire insurance sector from compliance based capital supervision to risk based supervision.

Thomas, who stated this in an interview with THISDAY said the era of one cap fits all in his supervisory role was over and had given way to a new era of riskbased capital model of supervision. “It will no longer be the case. This year, we will be closing on that and before I finish the first tenure, it will be operational. We are in

partnership with the multilateral institutions in our quest to evolve this risk-based capital. Our staff members have gone through a lot of training in this area and it’s been quite helpful”, he said. Thomas recalled that the industry was committed to his care with market production of about N320 billion, but that between that time

and now, the industry’s market production has grown to N730 billion. He said he was deputy commissioner until around August 2019. When he was appointed acting commissioner, the market production in terms of premium was about N400 to N520 billion. But by 2022, the market recorded more than N730

billion. I am still not satisfied yet, because my target before I finish my first term in office is N1 trillion. He said total asset of the industry moved from about N1.3 trillion in 2018 to about N2.5 trillion in 2022. “We are making progress but looking at our economy, these, to me, are small numbers. I will also say that our methodology is also

changing. Inspection used to be compliance-based with a checklist. But now, the world has moved to risk-based supervision. We started that last year. Some companies have tasted what it means to have riskbased supervision environment. Continued on page 26

M A R K E T D ATA A S AT T U E S D AY, F E B R U A R Y 7 , 2 0 2 3 BONDS DESCRIPTION Price ^14.20 14MAR-2024 ^13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

10.362, 00 10.459, 00 10.287, 00 11.168, 00 10.386, 00

Yield 10.82 11.11 11.35 12.60 12.92

Change Updated Time (%) -0.01 January 6, 2023 -0.71 January 6, 2023 0.00 January 6, 2023 0.00 January 6, 2023 0.00 January 6, 2023

BILLS MATURITY

Discount

Yield

NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23

3.01

3.02

2.21

2.22

3.20

3.23

NTB 11May-23

3.23

3.27

OTC F X F U T U R E S

CPS

Change Updated Time (%) 6, -0.01 January 2023 6, 0.00 January 2023 6, -1.71 January 2023 6, 0.00 January 2023 6, 0.00 January 2023

MATURITY FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23 MREP CP VI 11-APR-23

Change Updated Time (%) 6, 9.26 9.43 0.00 January 2023 6, 14.15 14.64 0.00 January 2023 6, 10.52 10.81 -0.01 January 2023

Discount Yield

. .

CONTRACT TENOR Contract (MONTH) NGUS JAN 25 1 2023 NGUS FEB 22 2 2023 NGUS MAR 29 3 2023 NGUS APR 26 4 2023 NGUS MAY 31 5 2023

Current Rate Updated Time ($/₦) January 6, 469.87 2023 January 6, 472.05 2023 January 6, 474.23 2023 January 6, 476.42 2023 January 6, 478.60 2023

WEDNESDAY, FEBRUARY 8, 2023 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

Merits of Naira Redesign, Cashless Initiatives James Emejo writes that the naira redesign and implementation of the cashless policy would plug fiscal leakages, boost government revenues, and aid the economic empowerment of vulnerable Nigerians as well as benefit the country as a whole.

ince the CBN embarked on the redesign of the Naira as well as expanded the implementation of the cashless policy programme, which began in 2012, a section of Nigerians, apparently with vested interests have not considered the benefits of the policies but have rather criticised them and tried to stir public objection. Critics of the cashless policy have argued that it would further impoverish Nigerians and create unemployment in the financial value chain. But they lacked evidence to buttress their rejection. It is not surprising that most of the objections to the central bank policies are by those who currently benefit from the rot in the system – politicians, and other corrupt public officials who take undue advantage of the opaque system of administration that does not allow for transparency in government business. Corruption remains the biggest challenge facing the country and has continued to retard its growth trajectory. At 62, Nigeria is still groping in the dark in search of its pathway to socio-economic prosperity – bad leadership, weak institutions, and abuse of due process are among a litany of moral and ethical deficits that have held it bound over the years. Corruption, including vote-buying among others, has also influenced the selection of those in the seat of power: often times those who are not qualified have succeeded, and their performance had been abysmal. As a result of the lack of transparency in financial dealings, social safety interventions for instance have been compromised as monies end up in private pockets while the vulnerable are left in worse conditions. Because monies cannot be partly accounted for or traced as a result of physical cash handling, a lot of underhand transactions are perpetrated and often go unnoticed by anti-graft and regulatory agencies. It is partly in view of the foregoing and the need to address some of the actions that have continued to shortchange the economy and the vulnerable in particular that the central bank, with the permission of President Muhammadu Buhari, decided to redesign the local currency as well as introduce limits on physical cash withdrawals.

NAIRA REDESIGN The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele on October 26, 2022, announced policy initiatives to redesign the N200, N500, and N1, 000 denominations, and subsequently introduced the cash withdrawal limits to regulate the movement of cash in the system as well as solve other challenges including currency counterfeiting

among others. In announcing the Naira redesign programme, the CBN governor said the move was aimed at checking the increasing ease and risk of currency counterfeiting evidenced by several security reports, and the increased risk to financial stability as well as the worsening shortage of clean and fit currency, with the attendant negative perception of the central bank. Emefiele, further explained that there was significant hoarding of naira notes by members of the public, with statistics showing that over 80 per cent of the currency in circulation was outside the vaults of the commercial banks. According to him, as of September 2022, a total of N3.2 trillion was in circulation, of which N2.73 trillion was outside the vaults of the banks, describing the development as unacceptable as this has the potential to harm monetary policy actions, further leading to higher inflation and currency speculation, thereby exposing vulnerable Nigerians to further economic hardship. However considering the timing of the policies – being an election year – some Nigerians, particularly politicians, believed that the apex bank’s move was targeted against certain individuals and have refused to see beyond their assumptions to know that the actions are in the best interest of Nigerians and the economy if the country must address the current gale of insecurity, corruption and economic sabotage among other actions of some privileged elites who continued to take advantage of a dysfunctional system to short-changed the country. If anything, there have been early successes of the CBN intervention - the monetary policy committee (MPC) of the central bank recently affirmed that the various policy interventions of the bank had led to a reduction in inflation after months of an uptick in the headline index. Also, the cashless policy has led to a reduction in banditry and kidnappings, which were rampant in the recent past.

GAINS According to Emefiele, the central bank’s principal objective for the currency redesign initiative was to make our monetary policy decisions more efficacious, saying: “We have started to see inflation trending downwards and exchange rates relatively stable. “We aim to increase financial inclusion in the country by reducing the number of the unbanked population. Thirdly, our aim is to support the efforts of our

security agencies in combating banditry and ransom-taking in Nigeria through this program and we can see that the military is making good progress in this important. According to him, “Available data at the Central Bank of Nigeria showed that in 2015, Currency-in-Circulation was only N1.4trillion. As of October 2022, currency in circulation had risen to N3.23 trillion out of which only N500 billion was within the banking system and N2.7 trillion was held permanently in people’s homes. “Ordinarily, when CBN releases currency into circulation, it is meant to be used and after effluxion of time, it returns to the CBN thereby keeping the volume of currency in circulation under the firm control of the CBN. It should also be noted that the notes in private homes and outside the banking system are not available for economic activities and thus may affect the economy attaining its potential growth.” Emefiele said since the commencement of the programme, the apex bank had collected about N2.1 trillion, “leaving us with about N900 billion”. In essence, the currency redesign policy has helped to mop up monies outside the banking system that had often contributed to rising inflation and currency speculation, which had resulted in foreign exchange challenges in recent times.

THE CASHLESS POLICY Though the CBN cashless policy began in 2012, but the expansion of its scope following the currency redesign has attracted attention and relevance. Following the naira redesign, the CBN had limited cash withdrawals to N500,000 per week for individuals and N5 million for corporate organisations. The bank had explained this measure would help to limit the use of cash for illicit activities such as banditry and terrorism financing and help to track the movement of money through electronic channels. If anything, limiting cash handling with reduce the rate of armed robbery and other associated risks.

CASHLESS POLICY BENEFITS Experts say that there is no doubt the advantages of the currency redesign exercise will enormously benefit the economy in the long run, as emphasised by the CBN Governor. If anything, the number of employment opportunities already created by the policies further demonstrates that rather than impoverishing Nigerians,

the cashless policy has the potential to boost wealth creation across the country. Already over 30,000 super agents had been engaged to carry out mobile services across the country. Further highlighting the benefits of the cashless policy, Emefiele pointed out that generally, currency redesign policies (sometimes called demonetization policies) are designed by countries to strengthen the performance of key macroeconomic parameters and equally combat social improprieties. “Chiefly, it is expected to reduce the amount of cash in underground or illicit economy, truncate the activities of racketeers, and obliterate rent-seeking businesses in the black market. By reducing currency outside banks, it will shrink money stock and accordingly lower the long-run path of inflation. The ensuing deflationary pressure could elicit interest rate cuts that will in the short- to medium-term boost economic activities, spur aggregate demand, and enhance output growth,” Emefiele said. According to him, the macroeconomic impacts of currency redesign are multidimensional and could seem uncertain especially at this early stage when its inconvenience is widespread. Emefiele said, “By spurring more people to use bank accounts, this policy will further increase bank account ownership and increase the use of accounts by enhancing people’s saving behaviour, and further encourage some hitherto informal business operators to formalize the pattern of transactions and adopt more formal settlement channels. “In addition, the short-term decline in cash holding and the increased formalization of business activities as the cashless policy forces more economic agents to open bank accounts, will also boost fiscal policy. With more transactions going through e-channels and bank accounts, more agents come within view of the government’s tax net. This enlarges the base of taxable activities and increases the possibility of more tax receipts by various tiers of government.” Speaking on the long-term benefits of the cashless policy, the Central Bank Governor said the policy improves the sophistication of tax collection and would no doubt reduce tax evasion and tax avoidance. “As experiences from other jurisdictions have shown, effective currency redesign can support regulatory reform, increased legislative reach and coordinated fiscal and structural policies,” he said. According to the apex bank boss, the recent policy interventions would also help Nigerians to access easy loans with affordable interest rates.

T H I S D AY ˾ WEDNESDAY, FEBRUARY 8, 2023

BUSINESSWORLD

FINANCE

Debt Concerns Spiraling Negative Ratings Nume Ekeghe writes on the recent downgrade in ratings by both Moody’s and Standard & Poor’s and its effect on the perception of Nigeria to international investors

igeria’s prospects of raising funds at the international market were further dampened recently with the latest ratings by international rating agencies. Moody’s Investors Service had downgraded the sovereign ratings of the country while S&P had reviewed its outlook of the country to negative. The two rating agencies were concerned about the rising level of Nigeria’s debt and the country’s ability to continue to meet its debt obligations in the future. Moody’s had downgraded government’s long-term foreign currency and local-currency issuer ratings, as well as its foreign currency senior unsecured debt ratings from B3 to Caa1, and changed the country’s outlook to stable. The latest rating by the agency comes just three months after the rating agency downgraded the country’s credit rating to ‘B3’ on 21 October 2022 primarily due to the significant deterioration in the country’s fiscal and external position, exerting increasing pressure on the sovereign credit profile despite a substantial increase in international crude oil prices in 2022.

IMPLICATION Accordingly, the ‘Caa1’ rating which is judged to be of poor standing and subject to very high credit risk, reflects a downgrade of the country to speculative or non-investment grade. Overall, the ‘Caa1’ rating is the lowest Nigeria has attained since 2006 (when rating agencies commenced coverage of Nigeria) and places the country under the same rating category as Gabon, Iraq, Pakistan, and Tunisia. In relation to its African peers, Nigeria’s currency rating of Caa1 compares with that of Angola, Mauritius, and Tunisia of B3, Baa3, and Caa2 respectively. According to Moody’s, the rating downgrade is mainly driven by expectations that the government’s fiscal and debt position would continue to deteriorate. Expressly, Moody’s stated that the review for downgrade focused on Nigeria’s fiscal and external position and the capacity of the government to address the ongoing deterioration – other than by alleviating the burden of its debt through any form of default, including debt exchanges or buy-backs. Moody’s noted that the government’s capacity to respond to the wide-ranging fiscal pressures it faces remains constrained by the country’s long-standing institutional weaknesses and social challenges. Nonetheless, Moody’s noted that immediate default risk is low, “provided that no sudden or unexpected events (such as another shock or shift in policy direction) would raise the default risk. Thus, the rating agency gave Nigeria a stable outlook.” On external funding, Moody’s noted that the current constraints come at a time the government’s foreign currency debt service is contained, limiting immediate liquidity risks. However, over the medium term, Moody’s highlighted that the external liquidity profile will likely erode unless the government can improve its access to external borrowing sources. This, in turn, will rely on the ability of the government to demonstrate a track record of delivering on fiscal reforms. Overall, Moody’s noted that the trifecta of a brightening oil production outlook, indications that subsidy reform is being implemented, and non-oil revenue improving faster than nominal GDP would signal that the fiscal deterioration is reversing course. The agency forecasts that Nigeria’s debt service payments will take up almost 50 per cent of the government’s revenue in the medium term, up from an estimated proportion of 35 per cent in 2022. It also expects the country’s aggregate debt-to-GDP ratio to rise to about 45 per cent in 2023. This compares with 34 per cent in 2022 and 19 per cent in 2019. The agency expressed renewed optimism about the recovery path of Nigeria’s economy under a new administration after the forthcoming general election. Similarly, Standard & Poor’s (S&P) on Friday last week affirmed Nigeria’s credit rating at B-/B, making no changes from its previous ranking but highlighting risks to Nigeria’s servicing capacity in the long term and revising the outlook downward to “negative” from “stable.” S&P in its latest rating cited increasing risks to the country’s debt servicing capacity over the next one-to-two years, as it said, “Nigeria’s debt servicing capacity has weakened due to high fiscal deficits and increased external pressures. “Ultimately, the risk that a negative feedback loop sets in over the next couple of years between higher government borrowing needs and rising

interest rates have intensified, exacerbating the policy trade-off between servicing debt and financing other key spending items”. It noted that 2023 budget plan is laced with an even larger fiscal deficit than in 2022, while the government’s funding options remain narrow and reliant on central bank financing. In addition, it stated that the government’s lack of access to external funding sources would add to the external pressure from depressed oil production and capital outflows, thereby eroding further Nigeria’s external profile over time. The common ground for both the Moody’s and S&P reports is the concern for Nigeria’s liquidity in the long term. On liquidity metrics, the ratio of debt service to revenue is approximately 80.7 per cent in November 2022, higher than the 25 per cent adopted by the DMO as outlined by the International Monetary Fund and World Bank debt sustainability metrics. Similarly, external debt service to oil revenue stood at 184.8 per cent in November 2022, while Nigeria’s total debt to GDP and revenue to GDP stood at 35.2 per cent and 3.8 per cent, respectively, for the same period. REACTIONS As a result of the ratings, investors had become jittery as concerns about Nigeria’s debt servicing capacity intensified. This was evident as Nigeria’s dollar-denominated government bonds depreciated ahead of the ratings report. These events are critical factors that would impede Nigeria’s access to financing in the international debt market. According to analysts at Cordros Research, the risk that a negative feedback loop sets in over the next few years between higher government borrowing needs and rising interest rates has intensified, worsening the policy trade-off between servicing debt and financing other essential spending. Also, analysts at FBNQuest noted that the downgrade has significant implications, including challenges in raising commercial debt from external sources, higher pricing of the country’s debt on the international capital market, difficulty in attracting foreign capital, and potential capital flow reversals. Cordros analysts said they expect investors to be cautious of Nigeria’s Eurobonds, pending the outcome of the February general election, adding, “We think the recent rating downgrade will add a further layer of pressure on prices in the near term, more so that this is the first time since Nigeria has been downgraded to Caa1. “Downgrading the country’s credit rating further into a speculative grade implies that investing in Nigeria’s sovereign bonds is considered riskier, and the probability of default has increased compared to when the rating was at ‘B3’. Accordingly, another likely implication of the downgrade is that Nigeria will find it difficult to access the foreign currency debt market in the short-to-medium term as investors price in the risk of default into the cost of debt amid the lingering increase in global interest rates. “Based on the preceding, the government’s options for funding annual budgets will be limited, with most of the funding need to be channeled to the domestic debt market, as we have seen in the 2023 budget. Barring the continued utilisation of the CBN’s Ways & Means advances, we expect domestic fixed-income yields to rise significantly to drive participation by local market players. “Finally, the negative sentiments from the rating downgrade are also expected to further worsen the country’s already low foreign direct investments, implying a further decline in foreign capital inflows. Pertinently, some academic studies on Africa found that there is a statistically significant relationship

between FDI and sovereign credit rating. “Thus, other things being equal, global investors prefer investing in countries with good credit ratings as they perceive it as a good measure of risk allocation. Besides, a rating downgrade increases the cost of debt, limiting the government’s ability to embark on efficient capital-forming initiatives. Accordingly, we believe foreign investors will be on the lookout for the February general elections and policy direction afterwards.” In the medium term the analysts say they believe Nigeria is unlikely to default in the near term. “We think continued expenditure expansion with little revenue growth would steepen the path towards a debt default. Consequently, the 2023 general election represents the most significant event that could provide further insights into Nigeria’s likely fiscal path over the short-to-medium term,”

the analysts said. GOING FORWARD Going forward, these negative ratings is a call for the government to reassess policies that should be implemented to tackle the fiscal challenges. On the revenue side, ending subsidy payments on PMS and restructuring the oil sector to improve output levels should be initial considerations. This will be a steppingstone to ending the ways & means for deficit financing. The government, through its agencies, will also need to improve monetary policy communications and ensure market-reflective structures that are attractive to foreign players. Also, there is a need to cut down on non-essential recurrent expenditures and institute a more suitable budgeting approach.

WEDNESDAY, FEBRUARY 8, 2023 ˾ T H I S D AY

BUSINESSWORLD

INSURANCE

Of NAICOM and Challenge of Compulsory Insurance Implementation Successive administrations in the National Insurance Commission including the incumbent, has been unable to effectively implement compulsory insurance as enshrined in Insurance Act 2003 as a result of several challenges, writes Ebere Nwoji

ompulsory insurance are insurance that are made mandatory by law. In Nigeria, there are six of them but the most popular one is the Motor Third Party Insurance meant to ensure the safety of Third Party road users; the government has made it compulsory for citizens and residents to have motor insurance before plying public roads. Effective enforcement of compulsory insurance in Nigeria is one dream commissioners for insurance in the National Insurance Commission (NAICOM) wish to realise as insurance regulatory body but this looks like a hard nut to crack. Indeed, past commissioners for insurance pursued this dream with vigor but the more they pursue it the more the realisation looks like a mirage. The former commissioner for insurance, Mr. Fola Daniel more than any of his predecessors and successors seemed to have made the highest effort in this regard. Daniel was the commissioner that highlighted the various compulsory insurances as stated by the insurance act 2003, staged the launch in six geopolitical zones of the country and commenced the journey of their implementation. Before his efforts, Nigerians assumed that the Motor Third Party Insurance was the only compulsory insurance in Nigeria and even the sale of motor insurance was high jacked by fake insurance certificate sellers. But on assuming office as the helmsman of NAICOM, Daniel, hired an expert contractor to help in promoting the enforcement through the launch of medium term plan, tagged, “Market Development and Restructuring initiative (MDRI),” which objective was among others to transform the Nigerian insurance market into trillion Naira market from N320 billion annual premium income. One of the commission’s plans towards achieving this was the enforcement of all the compulsory insurances nationwide. The six compulsory insurance in Nigeria include Motor Third Party Insurance, Employee Group Life Insurance, which requires every employer of labour with five or more employees to take out a life insurance policy on each of the employees at least three times the annual total emolument of the employee in both the private and public sectors. In the same vein, the Health Care Professional Indemnity requires every licenced health care provider to obtain insurance before treating a patient. Health care professionals are required to obtain insurance that will protect their patients in case of accidents or fatalities resulting from professional negligence. A health care provider comprises any registered government or private healthcare practitioner, hospital or maternity centre. Insurance of Public building which law requires that every public building must be insured against liability in the case of loss, damage to property, death or bodily injury that may be caused by collapse, fire, earthquake, storm or flood. It described public building as any building accessible to people for educational, medical, recreational or commercial purposes.

BUILDINGS UNDER CONSTRUCTION

This requires owners or contractor of any building under construction with more than two floors, to undertake insurance from the construction stage. The

purpose is to guard the public against construction risks that may be caused by negligence on the part of the contractor, resulting in bodily injury, loss of life or property damage. The Aviation Third Party Insurance and Marine cargo insurance are also among these compulsory insurances but NAICOM in 2008 slated the first five insurances mentioned above for launch and implementation. Among these compulsory insurances, the only policy that has enjoyed reasonable level of implementation was the Motor Third Party Insurance which through the Nigeria Insurers Association’s Industry Data base (NIID) initiative is currently making waves in many states especially Lagos and Oyo States where the activities of fakers of the policy certificate have been reduced to the barest minimum and motorist now willing to get their cover from genuine operators. On January 1st this year, NAICON increased both the premium payable on Motor Third Party Insurance and the claims paid on it by 200 per cent thus after 20 years of charging N5000 premium on it, the commission increased the premium to N15000 and the claims from N1 million to N3 million. The commission also added more value to the policy by extending its coverage to take care of the ECOWAS brown card across the West African sub region. What this means is that effect from January 1st 2023, if you are traveling to any West African country and have the Motor Third Party insurance paid at the new rate, you have been covered for the ECOWAS Brown card, as no body will require your possession of the card again. Aside these, implementation of the other four compulsory insurances has not seen the light of the day but occurrences of the various risks they were meant to cover seem to be on the rise. The

worst hit in this regard is the compulsory building insurance which builders have refused to embrace, whereas cases of building collapses abound in different parts of the country. The erstwhile Commissioner for Insurance, Mr. Fola Daniel, during whose tenure the compulsory insurance of public building and building under construction campaign was flagged off, listed structures covered under the Act to include: all buildings occupied by government ministries; extra-ministerial departments; statutory bodies; tenement houses; hostels; and any building to which members of the public have access for the purpose of obtaining educational or medical service or for recreational purposes or for business transactions.

EXPECTATION AND PERFORMANCE

During the launch, which took place in Abuja, the insurance industry operators who were highly elated projected that the builders insurance, if well implemented as planned by the commission, would yield a minimum of N10 billion premium to the industry annually. Their hopes in this regard became higher when in the same year the state governments started enacting compulsory builders insurance in their various states. The Lagos State government followed by the Imo State government among others led the states. To further boost activities in the industry through this particular policy, the federal government shortly after the launch approved NAICOM’s recommendation to make possession of compulsory builders insurance certificate a pre- requisite for getting government contracts. But despite these efforts, enforcement of the compulsory insurance looks very much unrealistic.

When THISDAY confronted NAICOM top official on why the commission was foot dragging in forcing Nigerians to obey this all important law on insurance, the answer got was that it is pretty difficult for NAICO officials to be walking along the streets of various states or hospitals forcing people to take the policy because the commission lacked the power to do that except with the aid of law enforcement agents. This is quite unlike the National Pension Commission, which was from inception bestowed with the powers to prosecute violators of contributory Pension scheme. But THISDAY gathered that empowerment of NAICOM with such necessary powers is embedded in the Insurance consolidation bill which the industry is hopeful will be passed before the expiration of President Buhari’s regime. During the tenure of Daniel’s immediate successor, Mohammed Kari, he tried to pursue the initiative though not as vigorous as Daniel. Kari, was proposing to stage a re-launch of the MDRI, but he was unable to achieve this before the expiration of his single tenure in office. Presently, the incumbent commissioner for insurance Mr. Sunday Olorundare Thomas is leaving no stone unturned in his effort to ensure effective enforcement of the compulsory insurance. Thomas in a recent interview with THISDAY highlighted his plans regarding effective enforcement of compulsory insurances saying, “We have done a lot trying to sensitise the states. We realised that as a government institution, we may not be able to do so much sitting in Lagos or Abuja. We need the instrumentality of the states to be able to enforce some of the insurance policies. I am talking about the Motor Insurance third party; building under construction, public buildings, professional indemnity and all other compulsory insurance policies”. NOTE: The story continue online on www.thisdaylive.com

NAICOM TO FOCUS ON MIGRATION OF INSURANCE INDUSTRY TO RISK-BASED CAPITAL SUPERVISION It has been quite revealing about the operations of these institutions. We are taking it to a new level, risk-based capital. If you know the history of capital in this country, it has been an issue and we want to remove that. You can trade, for instance, as a motor third party insurance company, based on your capital. Then, if you want

to trade in the highly volatile business environment of oil and gas, you also must provide the needed capital to be able to run at that level. That is where we are going now,” Thomas stated. In his response to question on increase in premium payable on the Motor Third Party Insurance from N5, 000 to N15,000, Thomas

said people talk about increase in the premium but that it was really not an increase. He added, “When it was put at N5, 000 over 20 years ago, what did it cover? It only covered liability to a third party. As at that time, how much were parts of vehicles being sold? How much were cars being sold? If you want to adequately

cover a person, the person must pay adequate premium. When the premium was N5, 000, the liability covered was just N1 million but because we are conscious of our environment, we have increased the liability to N3 million. Not only that, before we reviewed the premium, there is a protocol signed by President Muhammadu

Buhari I think in 2021 with respect to movement of people, men and material within the West African coast, which mandates everyone who moves with the sub-region to have an insurance policy.” According to him, what happened before now was that if anyone was going from Nigeria to Togo, before crossing the border,

the person would need to buy the ECOWAS brown card. So, at every point, this brown card must be obtained. On his regulatory model, he said his administration in NAICOM has put some companies under regulatory order. But said his office would not announce it to avoid panic.

Meanwhile, the DMO on Monday said the 2-year note due February 15, 2025, at a coupon rate of 10.0 4 per cent, and the 3-year note maturing on February 15, 2026, is selling at a coupon rate of 11.04 per cent. The interest would be paid to subscribers every quarter, according to the statement issued by DMO on Monday, stating that the bond can be purchased from any of the stockbroking firms it appointed as distribution agents. The opening date for the offer is February 6, closing date February 10, settlement date is February 15, and coupon payment dates are May 15, August 15, November 15 and February 15.

According to the guidelines, retail investors looking to invest in the FGN Saving Bond only need a minimum of N5,000 to invest. Subsequent investment over N5,000 will be in multiples of N1,000. Meaning that investors cannot invest N5,500 or N12,700. It’s either N6,000 or N13,000 or N30,000. The maximum amount a single retail investor can invest in the FGN Saving Bond is N50 million. The bonds have a tenor of 2 and 3-year respectively. Meaning that investors can either invest in an FGN Savings Bond with a duration of 2-year or one with a duration of 3-year and the interest rates are

BUDGET DEFICIT: HOW FG RAISED N28.62TRN VIA SAVINGS BONDS IN 3 YEARS albeit with low yield on investment. Responding to THISDAY enquiry on the matter, the Head, Equity Research, FBNQuest , Tunde Abidoye stated that bonds by federal government are oversubscribed over current liquidity surplus in the financial system, stressing that institutional investors continue to look for new avenues to invest funds from maturing securities, coupons and dividend receipts, and new AUMs generated. According to him, “This is in addition to the fact that FG bonds are essentially risk-free. Notably, Nigerian pension funds are willing takers of FGN debt.

“Nigerian pension funds have historically favored government debt as an asset class due to the paucity of good quality investible securities available to them. Other related reasons include the relative lack of depth of the equities market, portfolio safety considerations, and strict investment guidelines by the industry regulator.” The federal government’s rapid borrowing raises concerns about the growing stock of public debt, which presently stands at N44.06 trillion or $101.91 billion in third quarter 2022 from N42.84 trillion or $103.31 billion in second quarter of 2022. Speaking on the development, an economist and Chief Executive

Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said the FG had notified the general public of borrowing more in 2022. According to him, “Since we have a deficit of N6.3trillion and you also have an additional subsidiary budget of N4 trillion, naturally it has soar up the deficit and it is easier to raise money locally than raising it at the international market. Domestic borrowing is a low- hanging fruit. “With all the volatility and foreign exchange issues, it makes sense to borrow at the domestic market rather than borrowing from the international market. It is all a reflection of our macro economy

environment challenges and weak fiscal policy of the government. All this borrowing also is a reflection of the weak financial position of the government and it will continue like that.” He noted that the oversubscription to FBN Saving bond is a lucrative investment, stressing that the low risk involved attracted investors. He added that, “Anything sovereign has the lowest risk and nothing will go wrong with it except the country is collapsing completely. All over the world, sovereign bonds have the lowest risk and secondly it is an investment outlet for investors to invest their money.”

WEDNESDAY FEBRUARY 8, 2023 • T H I S D AY

T H I S D AY ˾ WEDNESDAY FEBRUARY 8, 2023

EDUCATION OOSC: Setting Records Straight from Multiple Conﬂicting Figures Despite the high birth rate in Nigeria and the negative effects of insurgency, banditry and COVID-19 on education generally, the UBE delivery interventions have to some extent stabilised the conflicting number of out-of-school children. Kuni Tyessi writes

he United Nations Education, Scientific and Cultural Organization (UNESCO) Institute of Statistics (UIS) revealed that Nigeria currently has 20 million out-of-school children (OOSC), as quoted by some news sources in September 2022. Although UIS has attempted to justify the methods used in arriving at the 20 million figures, the fact remains that the report can misinform the public, misrepresenting the actual situation of the OOSC in Nigeria and probably underrating the significant efforts made by the government in addressing the challenge. The ministry of education in times past deemed it necessary to provide some clarifications on the incidence of OOSC and to clear the misconceptions arising from the reports, as well as to enlighten the general public on the government’s effort at ensuring that children of school-going age access and complete basic education irrespective of their location and social status. This drive has remained resolute and with a determination to provide quality education for all citizens in response to their developmental needs and in line with an avowed commitment to global protocols and conventions on education, particularly those on Education for All (EFA), Millennium Development Goals (MDGs) and Sustainable Development Goals (SDGs). There’s no gainsaying the responsibility for providing primary and secondary education in Nigeria is primarily the constitutional mandate of states and local governments, with the Federal Government working closely in partnership to develop the sub-sector and address the challenge. The federal government provides financial and technical assistance to the states and local governments as part of its intervention in delivering Universal Basic Education (UBE) which covers primary and junior secondary. When the global community advocated and committed to universal primary education through EFA and MDGs, Nigeria expanded her compulsory, free universal education programme beyond primary education to include junior secondary education. UBE delivery interventions by the federal government and initiatives of states and local governments have significantly stabilised the number of OOSC of primary school-going age using the 2018 figure as the baseline. This is despite the high birth rate in Nigeria and the negative effects of insurgency, banditry and COVID-19 on education generally. At the end-year point of the MDGs in 2015, significant progress was recorded in the areas of equity and, to some extent, access, with a completion rate of 82 per cent. Nevertheless, Nigeria did not achieve MDG 2 (universal primary education), which indicated that a

Adamu proportion of school-aged children remained out of school. This challenge was carried over and expanded under the successor global development agenda – SDGs. SDG 4, Target 1, tasks all countries to ensure that all boys and girls acquire Universal Primary and Secondary Education by 2030, which Nigeria has committed itself to achieve. The country had established robust baseline data on basic education through a comprehensive National Personnel Audit (NPA) of all basic education institutions in 2018, and this was conducted by the Universal Basic Education Commission (UBEC), involving key national and international stakeholders, including the National Bureau of Statistics (NBS), National Population Commission, UNESCO, UNICEF and the World Bank, among others. The outcome of the 2018 NPA was widely disseminated and generally accepted as credible. This baseline

data was used to estimate the number of children not in school at primary and junior secondary levels in Nigeria. This was done in line with the globally established framework for estimating the number of out-of-school children. The 2018 NPA established the number of OOSC aged 6 to 11 at 10.193,918, regionally distributed as North Central, 1,329,111, North East, 2,012,038, North West, 3,490,671, South East, 713,176, South-South, 1,208,1832 and South West, 1,451,740. Similarly, 6,192,081 was established for ages 12 to 14 for junior secondary school-going age. The 2018 NPA took cognizance of Nigeria’s designated age bracket for universal basic education (primary and junior secondary, age 6 to 14) and did not extend to the senior secondary cadre (age 15 to 17) and the postsecondary school age of 18 which are both parts of the UNESCO’s 20 million figure. Putting this in the proper context, therefore, the 2018 NPA provides an authentic representation of the OOSC population in Nigeria within the confines of basic education as defined by the UBE Act 2004.

Based on the aforementioned and the attention the OOSC has generated, the federal government reinforced the implementation of the UBE programme in partnership with states towards ensuring that all children of school-going age acquire a minimum of basic education and strengthened inter-agency partnerships and specific programmes targeting various categories of OOSC. It stepped up efforts to improve access for vulnerable groups in UBE delivery, primarily the Almajiri and learners in the Qur’anic schools. This has provided access for over 2,292,439 learners in basic education predominantly in the northern states. Another is the implementation of the Better Education Service Delivery for All (BESDA) to reduce the number of OOSC using both formal and non-formal approaches in the 17 States with the highest number of OOSC in the country. Between 2019 and 2022, there were a total of 5,076,830 learners in the non-formal centres made up of 1,600,123 in cohort 1 (2019/2020) and 3,476,707 in cohort 2 (2022), as verified and confirmed by the National Bureau of Statistics (NBS), as well as the establishment of the National Senior Secondary Education Commission (NSEC), which has been charged with the responsibility for providing designated interventions in the senior secondary level of education to expand access and improve quality. This is not forgetting leveraging ICT and new technologies in providing alternative pathways for acquiring functional education for learners through the Open Schooling Programme, which will enable the OOSC population to access flexible learning opportunities suitable to their priorities and preferences. From the foregoing, it is evident that Nigeria’s OOSC figure for the primary and junior secondary school category, as established by the 2018 NPA, is not in contention. What has changed is UNESCO’s inclusion of the senior secondary (age 15 – 17) and further expansion to include young adults aged 18 years in the computation of OOSC. It is considered not very useful to lump different age categories together while addressing the issue of OOSC. Nigeria’s approach has been to categorise the different age groups and use these to track the progress made in each category. The government has pledged its determination to continuously initiate and implement innovative interventions to reduce the scourge of OOSC for overall national development. It is important, therefore, to reaffirm the country’s commitment to taking necessary steps in this direction, especially working with States and LGAs, multinational agencies, international development partners and related MDA to address the root causes of this anomaly towards ensuring that no child is left behind.

Expert Urges Transdisciplinary Research to Eradicate Neglected Tropical Diseases Uchechukwu Nnaike

The Director at the Centre for Transdisciplinary Research in Malaria and NTDs, University of Lagos, Prof. Wellington Oyibo, says Neglected Tropical Diseases (NTDs) will continue to persist in Nigeria and Africa if research is not directed to providing the much-needed evidence to support the interventions. Oyibo, a consultant medical parasitologist, said this during the celebration of the 2023 NTDs Day at the university, themed ‘Act Now, Act Together and Invest in Neglected Tropical Diseases’. He said the development was especially where there were threats of drug resistance, poor or inadequate diagnostic tools, poor case-management practices, and emerging

virulence of the organisms. Others are increasing the spread and sometimes poor uptake of the interventions in affected communities, procurement, and supply management issues. According to him, some diseases include Schistosomiasis (intestinal and urinary), Chagas disease, rabies, dengue and chikungunya, snake bite, trachoma, leprosy, roundworm yaws and others. Oyibo called for a strong, resilient health system that would likely be key to teaching the citizens quality health services. He pointed out that the role of academic and research

institutions was to bring to bear the role of transdisciplinary research in malaria and NTDs using knowledge to combat the NTDs, which is critical to the elimination. He said because of UNILAG’s commitment to impacting and being involved in the activities that would drive and accelerate the attainment of the elimination of the target in the country, it has, through its Vice-Chancellor, Prof. Folasade Ogunsola, endorsed the ‘Kigali Declaration’. “She is doing that based on the understanding that UNILAG has the capacity, interest, as well as taking up responsibilities to support NTDs control to elimination with knowledge through research. She is saying UNILAG will join and also deploy research innovation and other solutiontargeted measures to be able to make a

difference in the landscape of NTDs in Nigeria,” Oyibo said. The don stated that the World Health Organisation (WHO) had identified about 21 of the diseases under review, adding that those that are yet to be noticed were specifically because they needed a temperate environment to thrive. He said others existed but were not properly prescribed because full attention was not being focused on them. He said it is only when they are seen that they could be reported on. “For instance, in the case of chikungunya, it is a virus found in many countries in Africa and has been seen in a few more places. But how much of this chikungunya is known to be associated with the NTDs, we do not know,” Oyibo explained.

T H I S D AY ˾ WEDNESDAY FEBRUARY 8, 2023

EDUCATION

Excitement as 14-year-old Emerges One-day ABSU to Start 7 New CEO of MTN Nigeria Programmes, Graduates 3,757 Emmanuel Ugwu-Nwogo in Umuahia

L-R: Chief Human Resources Officer, MTN Nigeria; Esther Akinnukawe; the Chief Executive Officer, Karl Tariola; MTN oneday CEO, Kate Ene David; and Chief Operating Officer, MTN Nigeria, Hassan Jaber, at the MTN CEO for a day programme, in Lagos... recently

Miss Kate Ene David’s victory at the 2022 MTN mPulse Spelling Bee Competition earned her the position of MTN Nigeria’s one-day Chief Executive Officer. Funmi Ogundare reports that she will go down in history as the youngest to head a multinational company

he feeling was ineffable. Miss Kate Ene David, a senior secondary two (SS2) student of Intimacy with Christ Secondary School, Mararaba, Nasarawa State, could not hide her excitement as she was recently announced the one-day Chief Executive Officer (CEO) of MTN Nigeria, following her emergence as the winner of the 2022 MTN mPulse Spelling Bee competition. The competition is a selfdevelopment proposition designed by MTN Nigeria to promote digital literacy and academic excellence among students. David, 14, defeated over 11,000 participants who participated in the competition. In addition to her CEO status, she was awarded a N2.5 million scholarship, a laptop, a smartphone, and an MTN goody bag. The organisation also presented a N350,000 grant and state-of-the-art ICT devices to her English teacher and school. In her capacity as the CEO, dressed smartly in a yellow and black outfit with shoes to match, she took a tour of MTN Nigeria, Ikoyi head office plaza, met with the organisation’s executives and journalists, and announced key initiatives, including the unveiling of additional mPulse education data bundles. Speaking with THISDAY, she described the opportunity to assume the leadership of Africa’s largest telecommunication network as a dream come true. “It means a lot to me that

I have made myself, my parents, and my school proud as a young CEO. I am certain that what I have learned here will prepare me for a brighter future,” she stated. She recalled how she learned about the competition from her coach, Mr. John Ferdinand Odama. She said, “He usually introduces us to new competitions whenever the need arises. He was the one that introduced me to mPulse and he encouraged me to participate in the competition and here I am today as the MTN CEO.” Asked if she has participated in any other competition before now, David said, “I have participated in the Nigeria spelling Bee held in Lagos, where I was first runner-up in July 2022.” She said her coach did 60 per cent of the work for her by preparing and motivating her ahead of the competition. Asked what excites her about being a one-day CEO, David said, “I get to tell people about it for the rest of my life and also the knowledge that comes with it. I have learnt a lot from being taking round the MTN head office to know more about their divisions.” The one-day CEO said she had just launched a data bundle that will equip primary and secondary school students with relevant resources to spur their academic excellence. The bundles, she noted, offer highly discounted data plans to educational sites where students and young people

can learn different skills and access various developmental content. “The bundles range from N25 to N500 and offer as much as 250MB valid for one day to 4GB of data valid for 30 days. It gives students the opportunity to learn more on tbe MTN mPulse website. With more data for less money, you could study more,” she explained. “To take advantage of these offers specially designed for primary and secondary school students, they can simply dial *344*2# and you will be presented with affordable data plans.” David, passionate about excellence and desires for other students in Nigeria to access the learning opportunities she has enjoyed on the MTN mPulse platform, advised them to pray and study, saying that becoming the MTN one-day CEO is not just by hard work alone, but the God factor has to be there. She attributed her win to God and the practice materials she leveraged on the mPulse website, which houses countless free learning materials for primary and secondary school students to learn, play and shine. “The journey has never been easy. I studied a lot and did so many practice tests on the mPulse website, which resulted in my success. I am excited about this opportunity to lead the largest ICT company in Nigeria for one day. It’s an experience that I will never forget,” she stated. Asked if she is on social media and whether it will not

distract her from her studies, she said, “ you get to learn so many things that improve you. The Facebook that people misuse should not be. For instance, the MTN mPulse is on Facebook and you get to learn various things that they are doing.” In his symbolic handover, the CEO, Mr. Karl Toriola, applauded Kate’s brilliance while reiterating the purpose of the initiative, “It has always been our brand commitment to support the government and educational institutions in producing students that are primed for global competitiveness. With that in mind, I am confident that our CEO for a day is on the path to a great future. We are happy to be a part of what promises to be an extraordinary journey,” he stated. The Chief Human Resource Officer of MTN Nigeria, Esther Akinnukawe, said MTN “believe that everyone deserves the benefits of a modern, connected life and will continue to provide opportunities that support students to learn and grow.” Her father, Mr. Abah David, expressed excitement about his daughter’s success. Asked how he helped her through the competition, he stated that Kate attended his nursery and primary school (Talent Field Academy, Nasarawa), where she was supported with a conducive learning environment. “I encouraged her and made her feel the impact of learning which exposes children to greatness in life. She imbibed that spirit in her,” he said.

Lawyer Donates Classrooms,Toilets to Nasarawa School A Principal Partner, Lehi Attorneys, Mr. Babayemi Olaniyan, has donated a block of three classrooms and two toilets to the Akwaita Community in Nassarawa State. The project, which commenced in September 2022, was inaugurated recently. In a statement, Olaniyan

explained the rationale for the donation saying that the school is run by a missionary who has been teaching children in the community under trees for years. He stated that he had always wanted to leave an impact on society and that he saw a need in the community

and decided to meet it. The lawyer noted that the children now have a better chance of beating poverty and developing their community. The school’s headmistress, Faith Chuwudozie-Oliver, thanked Olaniyan, noting that there had been failed attempts at getting a proper

structure. The structure, she added, had brought the school together. The project was dedicated amidst an atmosphere of joy and great hope as parents and children in the community showed their appreciation with singing and dancing.

The Vice-Chancellor of Abia State University Uturu (ABSU), Prof Onyemachi Ogbulu, has announced that seven new programmes will be introduced. He disclosed this at the 29th convocation ceremony, where 3,757 graduates received higher degree and first degree certificates in various fields. Among the first degree graduates, 19 made first class while 1,160 came out in second class upper division with a law graduate Oluomachi Agbazuere emerging the overall best graduating student. The new programmes include Aeronautical Studies and Aviation, Insurance and Risk Management, Hospitality Management and Tourism, Biomedical Engineering, Geology, Dentistry and Geophysics. The VC said plans were an advanced stage for the commencement of the courses, adding that the Department of Mass Communication has been unbundled into seven new departments in line with the new guidelines of the National Universities Commission (NUC). The emerging departments from Mass Communication are expected to take off in the next

academic session. Ogbulu, who highlighted his administration’s achievements so far, said under his watch the university has continued to make steady and impactful progress. He called on well-meaning individuals and groups to support in the training of students in various disciplines by instituting awards or scholarships thereby building sustainable legacy and relationship with the university. Governor Okezie Ikpeazu, visitor to the university, expressed satisfaction with ABSU’s performance. “Our vision to make ABSU the centre of excellence in learning and character and the most progressive institution in the country is achievable in no distant time as we journey together with high sense of responsibility and purpose,” he said. The governor, represented by Deputy Governor Ude Oko Chukwu, advised the graduands not to be discouraged by the present circumstances in the country, “but be determined to work out your own salvation by changing the society for better.” In his goodwill message, the Minister of Education, Mallam Adamu Adamu, commended ABSU for sustaining its good track records.

Lagos Unveils Reviewed Unified Schemes of Work to Boost Teaching, Learning Funmi Ogundare

The Lagos government has unveiled the reviewed unified schemes of work and mobile learning devices; and e-books for secondary school students, designed to make learning more engaging and students centred. The Permanent Secretary, Mr. Abolaji Abayomi, said the ministry decided to change the structure of the schemes of work so, aside from making learning more engaging, students can get more involved to be critical thinkers right from their early education through junior and senior secondary schools. “We have been innovative by making our schemes of work compliant with the world of ICT. We are prepared to change the narrative by laying the foundation for an educated adult populace that fit into the global 21st century. We have been guided by the principles of change and innovation,” he said. “We have also moved away from textbooks to e-books. We have effectively infused technology into education as both are a twin pillar in the THEMES Agenda of our inspiring governor Mr. Babajide Olusola Sanwo-Olu.” The Director of the Curriculum Services Department, Mrs. Esther Adegbamigbe, said with the scheme of work being students- centred, they will be able to understand more, retain

more, create, analyse and solve problems. She noted that there were also learning strategies for teachers such that they can be impacted when students sit in small clusters. The Commissioner for Education, Mrs. Folasade Adefisayo, said the scheme of work aimed at helping the teachers develop lesson plans and notes that will reflect 21st-century learning, enabling students to study on their own and do research. She said the state focused on deep learning for students and their core skills, adding that when they are engaged in critical thinking and problemsolving in the classroom, they can answer questions better. Governor Babajide SanwoOlu, represented by the Head of Service, Mrs. Folashade Jaji, explained that the state took a holistic look at the curriculum in use and re-engineered it to meet the demands of modern education without veering off the national benchmark provided by the Nigerian Educational Research and Development Council (NERDC). He described the unified schemes of work as a groundbreaking statutory document designed to revolutionise teaching and to learn in schools in the state. Jaji stated that the state had received feedback on the reviewed scheme, an additional resource for better teaching and learning.

T H I S D AY ˾WEDNESDAY, FEBRUARY8, 2023

BUSINESS/MONEYGUIDE

Aderemi Abdul: Proposed FG-backed Consumer Credit Scheme Will Industrialise Nigeria Eromosele Abiodun Seasoned industrialist and Executive Chairman of United Technologies Limited, Aderemi Abdul-Bojela, the proposed federal government backed consumer credit scheme will speed up industrialisation of Nigeria He said the scheme, which would be under the Quality Life Improvement Plan (QLIP), is a blueprint designed to bring succor to local manufacturing. QLIP, he added, is a specialized consumer credit programme established to assist in the sustained growth of local manufacturers by way of inventory disposal through the availability of consumer credit geared towards local products and services, “It also provides easily accessible funds for buyers of consumer products and services to purchase items without putting excessive strain on their resources.” Speaking at a press briefing to unveil the initiative,

Abdul-Bojela described how the QLIP scheme will help various facets of the economy to achieve the quantum leaps essential to becoming a developed nation. “The scheme will bring solutions to the tripod of challenges that successive governments have grappled with: development of the economy, job creation, and diversification beyond oil. As a manufacturer of air-conditioning units and refrigerating equipment across decades, we encountered so many challenges and this prompted us to look for a solution to help us overcome those challenges. This search gave birth to the Quality Life Improvement Plan, a formula that has been successfully testrun with leading commercial banks, co-operative societies, and citizens. “QLIP is positioned to help promote local consumption, which enhances local manufacturing with a chain effect across the economy. What this translates to, in the final

analyses, are increased government revenue, technological development, and increased Gross Domestic Product, while improving Nigerian’s quality of life and productivity, ”Abdul-Bojela added. QLIP, he added, is coming at a time when the high cost/ scarcity of foreign exchange, customs duty, and power supply have forced a lot of manufacturing companies to go under. “To cap it all, the increasing demand for foreign goods by consumers is draining national reserves, and further straining the national economy. Hence, QLIP’s tested blueprint for a national consumer credit scheme encouraging consumers towards made-in-Nigeria goods has attracted positive reactions. “When we patronize made-in-Nigeria products, the impact on our economy will be enormous and it will help companies favorably compete with their foreign competitors.

R-L: Governor of Imo State and Visitor, Imo State University (IMSU), Senator Hope Uzodinma; Group Managing Director/CEO,UnitedBankforAfrica(UBA)Plc,Mr.OliverAlawubaandwife,Dr, Nkeiruka Oly-Alawuba;duringthe conferment of Honorary Doctorate Degree in Banking and Finance on Mr. Alawuba by the Imo State University at its EightConvocationCeremonyheldinOwerri...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

Sterling Bank Suspends Transaction Fees to all Customers Nume Ekeghe Sterling Bank has suspended transaction fees for all of its personal account holders and would be giving out free debit cards to its customers in its bid at encouraging e-banking and digital payment. The Chief Executive Officer Sterling Bank, Abubakar Suleiman, announced in a personal email to customers yesterday. The message in the mail to Sterling’s clients reads: “We at Sterling recognise the difficult circumstances many of our customers are going through. In light of this, from February 6, 2023, through February 18, 2023, our fund transfer services

will be provided free of charge to all personal account customers. In addition, we are glad to inform you that we will provide free Debit Cards to all interested customers. This will provide you with a convenient and secure way to make purchases and carry out transactions.” The move is viewed as part of Sterling Bank’s continuous efforts to support its customers and the general public as the nation navigates the distribution of the new Naira notes. Speaking to the press about the program, Sterling’s Chief Marketing Officer, Dante Martins, stated that this is the first initiative of its sort by a Nigerian commercial bank and that other banks should replicate it.

Martins said; “We believe that by eliminating transaction costs during this period, we will be able to enable our customers enjoy a more convenient banking experience by utilising our comprehensive digital solutions, hence reducing their reliance on physical cash. “We understand that our consumers require options for their daily needs, and we want to ensure that we can serve them as effectively as possible throughout this moment. By suspending transaction fees, we are confident that our clients will be able to focus on what’s most important to them while continuing to rely on Sterling’s quality and simplicity.”

CBN Raises N277.47bn from TBills Market in January Nume Ekeghe Data collated has shown that the Central Bank of Nigeria (CBN) raised N277.47 billion through the treasury bills market in January 2023. The apex bank carried out TBills auction twice worth N55.39billion in the first auction and N220.53billion in the second auction. The breakdown disclosed that the CBN at the first auction on January 11, 2023, offered TBills worth N56.93 billion – N1.55 billion for the 91-day, N1.49 billion of the

182-day, and N53.90 billion of the 364-day to investors. Demand was higher, especially for the 364-day TBills, as the total subscription settled at N310.44 billion, followed by 182-day TBills witnessed N56.2 billion total subscription and 91-day TBills at N22.44 billion total subscription. With an inflation rate of 21.7per cent year-on-year, investors focused on the 364day tenor Treasury bill at a 7.3per cent yield during the first auction by the CBN. Eventually, the CBN allotted

exactly what was offered at respective stop rates of two per cent (previously 2.75per cent), 4.33per cent, previously 7.15per cent, and 7.30per cent which was previously 8.49per cent. The first TBills auction was driven by higher demand for bills across the market, supported by the ample liquidity in the financial system. At January 25, 2023 TBills auction, the CBN offered instruments worth N220.53 billion – N1.74 billion of the 91-day, N1.26 billion of the 182-day, and N217.53 billion of the 364-day TBlls.

Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

Month

July 2022

Inter-Bank Call Rate

13.00

Minimum Rediscount Rate (MRR) 14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

NDIC Reiterates Commitment to Protecting Mfbs Customers

6 Months Deposit Rate

5.87

Nume Ekeghe

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

The Managing Director/ Chief Executive Officer Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan has said the corporation is working assiduously to ensure more Microfinance Banks (MFBs) are on the National Association of Microfinance Banks Unified Information Technology (NAMBUIT) to enhance resolutions in an event of failure. He said this yesterday in his keynote address at the Editors’ Forum where the corporation gathered senior

the monitoring of financial institutions provides a more nuanced assessment of the activities of the financial institutions based on certain risk indicators. This ensures that any potential threats can proactively be flagged and appropriate regulatory/ supervisory action taken. “The Corporation, in 2022 deployed the Single Customer View (SCV) reporting template to Microfinance and Primary Mortgage banks, in order to address challenges of delays in the payment of their depositors in the event of their failure and liquidation.”

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage)

Monetary Policy Rate (MPR)

editors of media outlets to discuss, “Deposit Insurance System (DIS) and Financial System Stability.” He noted that another initiative targeted at MFBs, the Single Customer View (SCV) reporting template would address challenges of delays in the payment of their depositors in the event of their failure and liquidation of Microfinance and Primary Mortgage banks. He said: “In terms of supervision, the Corporation in collaboration with the CBN adopted a risk-based approach to ensure that

(MILLION NAIRA)

AUGUST 2022

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OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

The price of OPEC basket of thirteen crudes stood at $92.17 a barrel on Monday, compared with $92.09 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

WEDNESDAY, FEBRUARY 8, 2023 ˾ T H I S D AY

MARKET NEWS

Ardova Proposes Delisting from NGX amid N17.38 Shares Buyback Plans Kayode Tokede Ardova Plc has informed the Nigerian Exchange (NGX) of its intention to delist as a publicly listed company. This is on the backdrop of Ignite Investments & Commodities Limited proposed N17.38 per share buyback. Company Secretary, Ardova Plc, Mr. Oladeinde Nelson-Cole in a statement said it had been approached by its parent

company, Ignite Investments & Commodities Limited to acquire the shares held by other shareholders of the company at an offer price of N17.38 per share. Ignite Investments & Commodities Limited currently owns 74 per cent of Ardova and is the majority shareholder of the company. Nelson-Cole said the company arrived at the share price of N17.38 per share using the

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

30-60 day volume weighted average share price of N14.19 and N13.97 respectively, on November 30, 2022 “The offer price of N17.38 represents a premium of 22.44per cent and 24.38per cent to the 30-day and 60-day volume weighted average share price of N14.19 and N13.97 respectively, on November 30, 2022 (being the last trading day prior to the Offer). “It is intended that the

S E C U R I T I E S QUANTITY TRADED

VALUE TRADED ( N )

Proposed Transaction will be implemented under a Scheme of Arrangement in line with section 715 of the Companies and Allied Matters Act, No.3 of 2020 (as amended) and other applicable rules and regulations. “The Proposed Transaction is subject to the review and clearance of the Securities and Exchange Commission as well as the approval of the shareholders of the Company. “The terms and conditions

T R A D E D MAIN BOARD

of the Proposed Transaction will be provided in the Scheme Document which will be dispatched to all shareholders following the receipt of an order from the Federal High Court to convene a Court Ordered Meeting. If the conditions of the Proposed Transaction are satisfied and same is sanctioned by the Federal High Court, the Company would be delisted from NGX.

AS O F

“Further developments will be communicated to shareholders in due course. Ardova Shareholders and members of the public are advised to exercise caution in dealing in Ardova’s shares until further information is provided,” the statement added. The company has a total external debt of about N55 billion which includes 2 tranches of unsecured corporate bonds totaling around N25.2 billion.

0 8 / 0 2 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

T H I S D AY ˾ Ͷ˜ 2023

CITYSTRINGS

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Elevating Cultural Diversity through Storytelling Monde Twala

he African creative industry has grown in leaps and bounds, steadily evolving to embrace the various sub-sectors of entertainment that have shone forth with the passage of time. Undoubtedly, the African creative industry no longer needs any introduction to the global scene, with recent strides cementing Africa's status as a continent that hosts a budding entertainment industry set to take the world by storm. However, reclining into the formative years of the continent's entertainment industry, there have been several platforms that offered Africa a global audience. One of these platforms —and arguably the most significant— is Paramount Africa. Every part of the African creative industry tells our story in its unique way. From the way we adorn our bodies with vibrant colours and designs that represent a tiny part of our culture, to the stories we tell through our songs and movies. All these outlets of expression have become a way of redefining the narratives about our culture, history and diversity. Therefore, across Paramount Africa's brands —BET Africa, Comedy Central, MTV Base, Nickelodeon— telling the African story has assumed a more fruitful adventure for all involved. Paramount Africa will continue to rest on the lips of many African creatives because the brand offers a platform that not only presents many artists and creatives with the opportunity to connect with the world, but also provides an ever-dynamic space that accommodates every creative seeking to bolster their path to success. Speaking of bolstering successes, Paramount Africa began to propel the good news of African artistry almost two decades ago when it first aired Tuface's ‘African Queen’ on its unique franchise —MTV Base. Before this period, African music was largely restricted to the continent's bandwidth. However, MTV Base brought a unique dimension to African music in terms of global acceptance, as ‘African Queen’ reached over 1.3 million global audiences within hours of its broadcast. This ushered in the Afrobeats that the entire globe has come to know today. Nearly two decades later, Paramount Africa

Twala has successfully aided the African music industry in penetrating the global market. But this has not only been the mainstay of Paramount Africa's mission. The brand went on to forge a strategic partnership that birthed the Africa Creative Market (ACM), subsuming both the artists, hosts, Pan-African Culture Squad, fashion designers, makeover artists, and even the African storytellers. Indeed, the cultural diversity of the continent has been given a rewarding structure that caters to its need for expression, its need to tell the African story the African way. First off, Paramount Africa has invested in upscaling the skills of various filmmakers on the continent. In South Africa, the brand partnered with the KwaZulu-Natal (KZN) Economic Development and the KZN Film Commission to hone the skills of greenhorns in filmmaking, eventually producing a TV series called ‘Seven Deadly Sins’.

Inclusivity remains at the core of the brand's investment in the African creative industry, which is why it has vigorously pursued the sustenance of local content by showcasing edutainment and emotainment shows for all age groups, tribes and cultures. BET Africa, for instance, has launched several reality shows, dramas, and telenovelas, including Isono, Redemption, Black Tax, Have Faith, DJ Zinhle: The Unexpected, and many more. BET Africa continues to drive attention towards black excellence and culture, with potential shows that sustain our diversity and culture in the pipeline. Comedy Central promotes African talents and comedians who are allowed a stage to showcase their talents, creating a general awareness of the vast array of talents that Africa inhabits. This need to create awareness has also extended to various issues facing society as a whole. These are issues that need to be addressed in ways that resonate across a spectrum of people, be they young or old. This is why, in partnership with the MTV Staying Alive Foundation, Paramount Africa is launching new seasons of MTV Shuga Down South and MTV Shuga Naija. These African edutainment series discuss various reproductive and sexual health, mental health and societal topics that are often ignored in the continent's societal space. They bring to fore the need for HIV testing as well as its prevention, and the fight against the stigmatisation and discrimination of people living with the disease. MTV has also produced documentaries that discuss gender-based violence across the continent. With the MTV Base VJ search, the vision towards building meaningful impact in the creative industry was taken a step further by providing ample space for those whose strengths were neither in music nor drama. Launched on the continent in 2012, the search aimed to churn out talents that understand the dynamic nature of hosting audiences, offering an opportunity that could catapult these hosts into global stardom. Perhaps more importantly, this initiative birthed the Culture Squad, a team of visionaries, creatives and trendsetters who push the culture forward across the Paramount

Africa’s youth brands MTV, MTV Base and BET Africa. As members of the Culture Squad, indigenous talents like Ehizojia 'Ehiz' Okoeguale, Stephanie Coker, Ada ‘Folu Storms’ Ogunkeye, amongst a host of other prominent VJs who have gone on to blaze a trail across the continent. In terms of conversations, Paramount Africa recently carried out the Reflecting Me: Global Representation on Screen survey, which was an opportunity to reflect on the achievements so far, as well as recalibrate and re-strategise on the next chapter. This survey evaluated real-time opinions and thoughts of on-screen and off-screen representation, with Nigeria being a country of focus due to its status as one of Africa's biggest social melting points. Insights gathered ranged from the North-Central, North-East, North-West, South-East, South-West and South-South parts of the country. The study revealed that 94% of Nigerians perceived that there was an accurate depiction of the multicultural beliefs and values of the country on-screen, while 70% felt adjustments and improvements were necessary for the representation of cultures and values. On the other hand, 47% of respondents felt that representation of cultures was inadequate. These statistics all revealed that people now consider it necessary to mirror our cultural beliefs on a global stage for the world to see and learn about our roots. For almost two decades, we have dedicated ourselves towards facilitating the growth of African creative content, as well as the ever-growing audience and acceptance of the continent's talents and cultural diversity. This is because we realised, long before many, that the future of the music, film and television industry possesses immense potential for the creation of more content that is authentically African. Truly, this is only the beginning of Africa's dominance in the entertainment industry and Paramount Africa will continue to be at the forefront of conversations and initiatives that scale the visibility and impact of indigenous storytelling. -Twala showcases Paramount Africa's cultural and social impact in the creative industry.

Five Lagos Communities to Enjoy Solar Energy Soon Precious Ugwuzor

o fewer than 12,500 residents in five communities at the Epe axis in Lagos State would benefit from solar mini energy project embarked upon by the Lagos State Government; A4&T Power Solutions Limited and Ikeja Electric PLC. The ground breaking ceremony of the interconnected solar mini grid was done recently. The jubilation at the event was understandable for the reason that when the 0.88MW (scalable to up to 2MW) interconnected solar mini grid, will be completed, it will provide energy for the communities in Epe, Eredo Local Government Area of the State. The project is being developed by A4&T Power Solutions Limited, in partnership with Ikeja Electric PLC. The project is a product of the Interconnected Minigrid Access Scheme (IMAS) program. The Lagos State Governor , Babajide- SanwoOlu who described the project as laudable and first of its kind ,said it was a step in the right direction, towards bridging the energy gap, and enabling universal sustainable energy access in Lagos State. "The Lagos State Government, via its Off-Grid Electrification Strategy and Action Plan, has set a target to achieve 1GW of Solar PV generation by 2030 and collaborative efforts of players in the sector, such as being witnessed today between A4&T Power Solutions Limited, and Ikeja Electric PLC, will help to accelerate the achievement of this target. The Governor, who was represented by the Honorable Commissioner for Energy & Mineral Resources, Engr. Olalere Odusote, said," In line with its T.H.E.M.E.S agenda of making Lagos a 21st Century Economy, the Babatunde Olusola Sanwo-Olu administration is dedicated to fostering investment in the electricity sector

L- R : Climate & Energy Sector Coordinator, Duke Benjamin; Head of Programme, GIZ, Founder Eko Innovation Centre, Mr. Victor Gbenga Afolabi; Special Adviser to Lagos State on Innovation and Technology, Mr.Tubosun Alake; Lagos State Commissioner for Energy & Mineral Resources, Engr. Olalere Odusote; Head of Business Development Ikeja Electric (IE), Ms. Obianuju Okweze; and CEO A4&T Power Solutions Limited and President, REAN, Mr Ayo Ademilua towards achieving an optimal energy mix,and will continue to support, encourage, and partner with forwardthinking corporate entities to further promote, and deepen sustainable off-grid electrification in the State" Mr. Odusote, thanked A4&T Power Solutions Limited, and its development partners for choosing the state as the investment destination,and commended the management of Ikeja Electric PLC for its dedication, and demonstrated efforts, towards improving electricity supply in unserved and underserved communities across the state. Odusote reiterated the commitment of the Babajide Sanwo-Olu (

BOS) administration to supporting collaborative efforts aimed at accelerating sustainable energy access across the State as it continues to provide forward thinking leadership, and the enabling environment towards facilitating improved electricity supply for its continuously increasing populace. On his own, Special Adviser to Lagos State on Innovation and Technology, Mr Tubosun Alake, said that the initiative would support the advancement of digital transformation, and provide alternative energy options for digital businesses within the state, and lauded the initiative. Head of Business Development Ikeja Electric (IE), Ms Obianuju Okweze, while giving her goodwill message on behalf of the IE DISCO, expressed the company's commitment to serv-

ing underserved customers, and reducing the over-dependence on the grid. The Epe mini-grid power plant will be powered by Solar and Gas, which will improve the energy mix and it is expected to benefit approximately 12,500 people,while reducing tons of CO2 emissions yearly. Chairman, Board of Directors A4&T, Mr Victor Afolabi, expressed the delight for what the stakeholders were doing about the project. He shared that the organization’s strategic objective is to continue to raise the bar of innovation in the industry through integrated utilities. The CEO of A4&T Power Solutions, Mr Ayo Ademilua, provided an in-depth insight into the structure of the Hybrid Interconnected mini-grid plant. The CEO hinted on some unique modern technologies like Electric Vehicle charging station to power Electric motorcycles; Three Wheelers (popularly known as keke marwa), and Electric vehicles that would be demonstrated in the communities to further promote cleaner environment and reduction of carbon footprint in the state. "This landmark project is the first of its kind in Lagos and marks a new era in sustainable energy solutions in Nigeria. it is set to make a lasting impact on the clean energy landscape of Nigeria as A4&T Power Solutions is poised to lead in bringing electricity to Nigeria's unserved & underserved communities towards creating a brighter, cleaner and more sustainable future. The project is a product of the Interconnected Minigrid Access Scheme (IMAS) programmes. The IMAS programme is aims at connecting approximately 27,600 households and impacting over 138,000 Nigerians. The programme is led by the Rural Electrification Agency (REA), under the Federal Government of Nigeria Ministry of Power with funded support from the European Union and the German Government through the Nigerian Energy Support Programme (NESP).

WEDNESDAY, ΀˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

ROAD TAX CREDIT SCHEME... L-R: Minister of Water Resources, Engr. Suleiman Adamu; Minister of Works and Housing, Babatunde Raji Fashola; Group Executive Director, BUA Group, Kabiru Rabiu, and Minister for State (Works & Housing), Hon. Umar Ibrahim El-Yakub, at the official flag-off of the N116 billion, 132km Kano-Kongolam dual-carriageway being constructed by BUA Group under Presidential Executive Order 007…yesterday

IG Orders Redeployment of DIGs, AIGs, CPs Frank Mba now Ogun CP, Idowu Owohunwa for Lagos Kingsley Nwezeh in Abuja The Inspector-General of Police, Usman Baba, yesterday, ordered the posting and redeployment of Deputy Inspectors-General of Police (DIGs), Assistant Inspectors-General of Police (AIGs) and Commissioners of Police (CPs) to departments, commands, and formations. A statement by Force Headquarters (FHQ) said the shake-up was in line with IG's manpower development policy of placing round pegs in round holes. According to the new directive, DIG Danmallam Mohammed, was redeployed to the Department of Finance and Administration, while the following Assistant Inspectors-General of Police were posted to take up the duties and

responsibilities of the Deputy Inspectors-General of Police in charge of the following Departments of the Force. AIG Hafiz M. Inuwa, DIG Department of Training and Development; AIG Aji A. Janga, DIG Department of Research and Planning and AIG Adeleke A. Bode, DIG Department of Operations. The statement signed by Force Public Relations Officer and Chief Superintendent of Police (CSP) Olumuyiwa Adejobi, said AIG Habu Sani Ahmadu was posted as Force Secretary while AIG Shuaya’u Lafia Abdulyari assumes office as the AIG in charge of the Force Intelligence Bureau, Force Headquarters, Abuja. Similarly, the following senior

police officers were posted to also take up the duties and responsibilities of the Assistant Inspectors-General of Police in charge of zonal police commands. They include CP Matthew Akinyosola, AIG Police Mobile Force; CP Jonathan Towuru, AIG Zone 6; CP Sylvester A. Alabi, AIG Zone 2, Lagos ; CP Akande Sikiru Kayode, AIG Zone 11 Osogbo and CP Abimbola Adebola Shokoya AIG Zone 17 Akure. The statement further stated that in line with IG's mandate and strategies to strengthen the operational structures of state commands, the police boss also ordered the provisional posting of the following Commissioners of Police to various commands pending the approval of the Police

Service Commission (PSC). They include Adebola A. Hamzat, CP Adamawa State; Emeka Frank Mba, CP Ogun State; CP Suleiman A. Yusuf, Taraba State; CP Idowu Owohunwa, Lagos State; CP Faleye E.S. Olaleye, Ebonyi State.

The Compatriots, an association of elder statesmen, has called on both the federal government and the Independent National Electoral Commission (INEC) to ensure that thegeneral election held “at all cost.” The group, made up of dedicated Nigerians out to promote the unity and progress of the country, made the call in a statement issued by its Chairman and former Governor of Akwa Ibom State, Obong Victor Attah, after meeting with presidential candidates of some political parties in Abuja. The plea however came amid claims that some fifth columnists were seeking the postponement of the elections fixed for February and March 2023. The group, therefore, called on all Nigerians to ensure that INEC’s integrity and competence were protected in order to conduct a free, fair and credible elections, warning also that no segment of the society should be disenfranchised in the elections. The statement read in part: “The Compatriots met with Presidential Candidates of The Peoples Redemption Party (PRP) Kola Abiola, Prince Wole Adebayo of the Social Democratic Party (SDP), representative of the Labour Party candidate and running mate of Peter Obi, Dr. Datti Baba Ahmed and representative of the Peoples

Democratic Party Presidential Candidate, Alhaji Atiku Abubakar, former Governor of Adamawa State, Boni Haruna. “The other two invited candidates from The APC and the NNPP were unable to attend. The meeting was part of a series of engagements with major stakeholders in the forthcoming elections. “Based on their combined presentations and answers to specific questions, the interactive session revealed the collective and exceptionally high quality of the contestants, their profound understanding of the critical issues and their strong commitment to the democratic process. “It was also clear that individu-

ally and collectively, there is strong commitment to the development of the inalienable fortunes and power of the citizen to shape the future of our country. “The Compatriots saw a powerful alignment between its objective of ensuring the citizen’s sovereignty is protected and the collective commitment of parties present to ensure an electoral process that safeguards no citizen is disenfranchised from the democratic process. “At the end of a very useful and inspiring meeting, the following issues were agreed upon:INEC’s integrity and competence should be protected by all stakeholders and Nigerians. It is necessary, however, to insist on the utilisation of capaci-

Says AfCFTA can either expand or jeopardise Nigeria’s economy Dike Onwuamaeze The Manufacturers Association of Nigeria (MAN), yesterday, declared that its members were passing through a critical time due to the prevailing petrol scarcity,

ties that represent independent audit of its systems and processes from now until the elections. “Candidates and their supporters should recognise that all Nigerians look forward to this election as being the one that will produce a leadership that will make a difference between further decline and sustainable greatness. “Nigerians expect a decent contest, a credible election and a peaceful transition to great leadership from all three arms of government. Losers should accept defeat or seek redress in the court. At all costs, the elections must hold, and we must avoid throwing the country into crises over the elections.”

Sultan: No Devt Can Thrive Without Peace

Seriki Adinoyi in Jos

The Sultan of Sokoto, Alhaji Mohammadu Sa’ad Abubakar, has charged Nigerians to live in peace as it could not be traded for anything else, adding that no economy or any other development could thrive in crisis. The Sultan gave the charge yesterday in Jos on the occasion of Plateau annual Forgiveness and Reconciliation Day, and the 47th anniversary of the state’s creation. Urging the people to keep the ‘Peace and Tourism’ status that the

state was known for, the Sultan said they should not allow themselves to be confused by politicians that preach hatred to achieve their selfish purpose. Speaking on behalf of Plateau Council of Chiefs and Emirs in the state, the Gbong Gwom Jos, Da Jacob Gyang-Buba described the event as one that vindicated Governor Simon Lalong, who has stood firm in persuading the citizens of the state to put all past crises behind them and look forward to a greater future. Lalong, on his part, said his

The statement, which claimed the posting took immediate effect, also called for support and cooperation from members of the public to enable the newly posted senior officers perform optimally on their mandate.

MAN: Manufacturers Facing Critical Time

The Compatriots Urges FG, INEC to Hold Election at All Cost

Deji Elumoye in Abuja

The IG charged the newly posted officers to hit the ground running to ensure the mission, vision, and policy statements of his administration were effectively complied with in the areas of crime-fighting, public cooperation, and safety.

heart was filled with joy that his administration has laid a solid foundation for peace, justice, equality, tolerance and hospitality. He said with the support of traditional, religious and community leaders, the government has worked hard to substantially reverse the damage to the collective psyche and fractured inter-group coexistence. Catholic Archbishop of Abuja Most Rev. Ignatius Kaigama, said he was happy that the initiative taken many years ago has fully been implemented by the state government.

cash crunch, shortage of foreign exchange and power supply in the country. The MAN also warned that the government should be deliberate in promoting Nigeria’s manufacturing sector because the operation of the African Continental Free Trade Area’s (AfCFTA) has the capacity to either expand the Nigeria economy for good or limit and jeopardise it. The association highlighted these points in Ikeja, Lagos State, during its “2023 Media Luncheon with MAN President.” The president of MAN, Mr. Francis Meshioye, said: “We are facing scarcity of fuel, diesel, energy, currency that are abstract infrastructures that will enable proper manufacturing. We have spoken to the current government and have expressed this to leading presidential candidates and political parties. “We are expecting that by the time the new government comes in on May29, it will be necessary among other things to look into the manufacturing sector especially on issues around forex supply that set the tone on how we (manufacturers) really determine the prices of our products because currently we cannot even budget effectively. “It also hinders the possibility of any investor to bring in foreign money to invest in Nigeria. And actually it frightens the existing manufacturers to engage and do the business effectively. So these costs from abstract infrastructure need to be addressed so that we can really be able to work ahead. “Continentally, it is important to determine the rule of origin properly to avoid dumping, which will be very bad for manufacturers. “I want to believe that the cash crunch will be a very short term problem. However, there is no way that any scarcity of very essential things to consumers that will not affect the producers. We feel it because it hinders proper flow of our goods to the end users. What effect is it going to have on the

piled stock? It means your cash is trapped while you are paying high interest rate; then we won’t make good returns. “But investment goes to where it makes good returns regularly. It is a very big issue on our economy now. So, we are really facing a critical time as manufacturers now.” Speaking in the same vein, the Director General of MAN, Mr. Segun Ajayi-Kadir, harped on the need to make the manufacturing environment more conducive to ensure that the sector, which has been acknowledged as a key sector for national growth and development, would continue to contribute its due quota to the country’s GDP and wellbeing of average Nigerians. Ajayi-Kadir said: “There is no doubt that manufacturing is key to national development and now that we have entered the AfCFTA, it is important that manufacturing leads the process of ensuring that we produce what we trade in the continental market. “Otherwise we will unwittingly create a 1.4 billion people market only for Asia, America and Europe to take advantage of it. That will not be good for our national development and continental integration economically. “It is very important to be talking about the AfCFTA. It promises to open opportunities for our economy and at the same time it can even limit, if not jeopardise our economy.” He added that the fillers that the MAN is getting from its members showed that manufacturing is becoming an endangered undertaking. He said: “We are boldly saying that manufacturing is not like ordinary business endavours. It is a deliberate choice that every country has to make since there is no country in the world that has become prosperous and developed without a virile manufacturing sector. “The service sectors have limitation in the number of people they can engage. So, manufacturing needs to be prioritised and for us it is a decision that Nigeria has to make.”

WEDNESDAY, ΀˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

DISCUSSING THE CREATOR ECONOMY... L-R: Digital Strategist /Content Creator, Tobi Ayeni (Miss Techy); Chief Economist, Coronation Merchant Bank, Chinwe Egwim; MD/CEO, AT3 Resources, Tosin Adefeko; Digital Content Creator, Frank iTom, and Corporate Communications Manager, Anglophone West Africa, Meta, Oluwasola Obagbemi, after a panel session curated by AT3 Resources, during the 2023 ongoing AfricaNXT event in Lagos…yesterday

Makinde: We Must Take Back Nigeria, Put It on Righteous Path Kemi Olaitan in Ibadan Oyo State Governor, Seyi Makinde, has called on residents of the state to use the opportunity of the general election to “take back Nigeria and place it on the path of righteousness.” This is as he reiterated that the February 25 presidential election would be an election like no other, which would usher in a truly independent Nigeria, and warn the people not to vote with sentiments. The governor stated this at the monthly 7-7 programme of the Comfort Life Mission International (aka Olorun Ojiji), Ikoyi, Osun State, headed by Pastor Odekunle Epaphras. Makinde urged Christians to take a firm decision in the coming polls in order to take Nigeria back, and shine the light on the supposedly dark corners of politics, stating that with only two weeks to the presidential election, it was time

for activism rather than political correctness. According to him, the insinuation that politics was a dirty game and that Christians should abstain from it has been unhelpful, noting that more Christians should participate in politics and governance as it would help to lighten the darkness in the world.

The governor, however, said his administration had in the last four years, been giving back to the society and developing the state across the four pillars of the administration. He maintained that the ongoing Ibadan Circular Road project, which is only about five minutes to the Comfort Life Mission headquarters,

able to survive the virus despite the scare at that time. He also expressed confidence that with the prayers and support of Oyo State people, he was sure of victory in the March 11 governorship election, because according to him, he was able to win in 2019 with the support of God the father, and the people of Oyo State.

Kwankwasiya members are back in PDP, says Ayu Benue diaspora voters predict victory for ex-vp Segun Awofadeji in Bauchi, Adedayo Akinwale and Sunday Aborisade in Abuja Presidential Candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has pledged to ensure that the oil discovered between Bauchi and Gombe States would

be exploited to the benefit of the people. On his part, the National Chairman of the PDP, Dr. Iyorchia Ayu, has said everybody who ran away has started coming back to the PDP, including members of the Kwankwasiyya movement, some of whom he claimed have

Says Fubara remains PDP guber candidate Describes his party leaders as armed robbers Rivers State Governor, Nyesom Wike, has reapproved Adokiye Amiesimaka Stadium for the Peoples Democratic Party (PDP) presidential campaign to hold its rally on February 11, this year. Wike, who claimed that the re-approval was followed by calls and pleads by some Nigerians, who advised him to reconsider his position on the facility, however, maintained that Mr. Siminialayi Fubara remained the governorship candidate of the PDP in the state. Speaking yesterday at the Rivers State PDP campaign flag-off rally for Ogu/Bolo Local Government Area of the state, Wike described the party leadership as armed robbers, from whom he and others would not run, because they built the PDP house. “This morning after appeal from people, who talked to me, I have given them back Adokiye Amiesimaka. Go and campaign. Let it not be that because they didn't campaign that is why they didn't win in Rivers State.”

that the successes achieved by the government would not have been possible without the prayers of the people of the state, added that he knew that the prayers of God’s people were fervent and effectual from the early period of his administration when he contracted COVID-19, and told the congregation that he was

Atiku: I'II Ensure Gombe, Bauchi Oil is Explored to Benefit People

Wike Re-approves Mega Stadium for Atiku's Campaign in Rivers Blessing Ibunge in Port Harcourt

was one of the many evidence of his administration’s developmental efforts. He said when completed, the Circular Road would commute travellers from the Ife-Ibadan Road axis to Lagos in one hour and 10 minutes without having to go through the Ibadan city centre. Governor Makinde, who stated

Also, reacting to the Supreme Court ruling which dismissed appeal by a governorship aspirant of the party in the state, Hon. Farah Dagogo, Wike maintained that there was no disputation over the candidature of Fubara as the PDP gubernatorial candidate for Rivers State. Wike said he had to make the explanation because of the apprehension that some party members had expressed sequel to rumours that there was a plot to replace Fubara as gubernatorial candidate of the party in the state. He mocked those he referred to as plotters against the interest of the state, saying he was always ahead of them and urged them to also return home to implement their plot. “Supreme Court dismissed the appeal by Farah. I can tell you there is nothing we do not know about what they want to plot from the up. If you plot finish, come down and implement it,” he said. The Rivers State governor also queried claims by the PDP National Chairman, Dr. Iyorchia Ayu, that

they were reaching out to the G-5 governors. According to him, Ayu lied when he also claimed that one of the G-5 governors visited him at his residence. Insisted that neither he nor any G-5 governors went to Ayu’s residence, the Rivers governor stated that they were who they were and that it was not the first time such insinuation had been made, but the G-5 governors would win the battle in PDP at the end of the day. “Nobody can blackmail us. We'll never go and meet anybody. We are who we are. This is not the first time we have battled. This battle we will win at the end of the day. “We have gone to court against them. We are not running away from them. All our candidates went to court, our party went to court, I went to court too. We'll stay here and we'll battle it. We are not going to run away from anybody. “Are we going to run away from armed robbers? It's not possible. You can't chase us away from the house we built. Rather, we'll chase you out because you are used to running away,” he said.

just been received into the fold. Relatedly, a group, Benue Voters in Diaspora (BVD), has predicted that Atiku would emerge winner of the February 25 general election in Benue State. However, Atiku, who made the promise in Bauchi at the presidential campaign rally of the party, commended Governor Bala Mohammed of the state for the developmental project he has executed so far. Atiku said: "I want to thank Governor Bala Mohammed. He has constructed roads, he has constructed schools, he has constructed hospitals and we want to commend him for all the things he has done. And we want you to vote for him. "I have also pledged that the petroleum that has been discovered between Bauchi and Gombe will be exploited to the benefit of the people. I have also pledge to set

aside $10 billion for youths and women to receive loans to set up their small and medium business enterprise for self-employment." Ayu, while speaking, said the presidential candidate of the party would serve as the medicine for all the problems the people are facing, including hunger, insecurity, and out-of-school children. According to him, “Today everybody who ran away is coming back. We have just received everybody from the Kwankwasiyya, I don’t need to come to Bauchi and campaign.” Chairman of the PDP campaign council and Governor of Akwa Ibom State, Udom Emmanuel, posited that, Atiku had the capacity to turn things around, saying, "A man who has the knowledge, very resourceful, the man who has the empathy to do things right. The man who can assemble the right team to put this

economy in place. "I can assure you that with Atiku Abubakar, you will not buy fuel again for N400 a litre; with Atiku Abubakar you will not trek again; with Atiku Abubakar, schools will not close; with Atiku Abubakar, our tertiary health institutions will no longer be consulting clinics, every thing will start to shift back to perfection." Meanwhile, the coordinator of Benue Voters in Diaspora (BVD), Chief Bright Igodo Ogaji, in a press statement, said contrary to opinions from some quarters, Atiku would poll over one million votes from Benue State. According to him, the turnout at Atiku's rally in Makurdi and the level of "mobilization" by various PDP stakeholders both home and in diaspora, was a testament to the fact that the PDP candidate would sweep Benue at the poll.

PDP: APC CANDIDATE HOARDING CASH, CAUSING NIGERIANS PAINS “For me, my records are there in Anambra State, when I served as governor. I insisted that I should go through most of the contents of my manifesto and sign onto them, because I believe that Nigerians will hold me, my family and children responsible at the end of day if I failed to perform, not members of my party," he said. He restated his pledge to arrest the insecurity in the country and return the country from consumption to production, adding also that he had the needed capacity and competence to make it happen. Kwankwanso, on his part, said he would use his experience in Kano state to rebuild the country if elected. Tinubu and Atiku Abubakar were however absent at the event, but when a former governor of Edo State and erstwhile Labour leader, Adams Oshiomhole, rose to announce his representation of Tinubu, he was shouted down and booed by the

workers, who demanded it was either the candidates or no other person. Meanwhile, at the launch of the Renewed Hope Ambassadors for Tinubu, in Abuja, Director, Civil Societies Directorate, APC PCC and Senator representing Yobe South Senatorial District, Mohammed Hassan, said the group was expected to have vote canvassers of 20 people in each of the 176, 846 polling units spread across the six geopolitical zones of the federation. He said: "You will agree with me that our nation is at the cusp of a significant transition programme, the outcome of which will have far-reaching consequences not only for this generation but for generations to come. Across our towns and inner cities, the need to spread the gospel of renewed hope among our people has become ever so necessary ahead of the upcoming elections. "It is on the heels of this, that the Directorate of Civil Society

Organization which is under the Asiwaju- Shettima Presidential Campaign Council (PCC) thought it worthwhile to convene and inaugurate this group of Ambassadors who will be officially commissioned to go to all the polling units to actualise the renewed hope mandate." Hassan claimed the group already had structures and coordinators in the six geopolitical zones for effective administration, who would swing to immediate action once inaugurated Also, National Coordinator of the group, Dr. Tunji Asaolu, said the Directorate was taking it upon itself to promote the manifesto of Tinubu by appointing ambassadors of hope to spread the message of hope, voter canvassers in all the polling units at all levels. National Secretary, Renewed Hope of Nigeria, Okpokwu Ogenyi, urged all the coordinators to work hard, show dedication and strong conviction to deliver on their mandate.

WEDNESDAY, ΀˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

FIRST ANAN MANDATORY PROFESSIONAL DEVELOPMENT... L-R: Chief Executive Oﬃcer, Association of National Accountants of Nigeria (ANAN) Dr. Kayode Fasua; Clerk of the National Assembly, Alhaji Sani Tambowal; President, ANAN, Prof. Benjamin Osisima; First Vice President, Dr. James Neminebor and the Second Vice President, Zuwaira Kishimi, during the ﬁrst ANAN Mandatory Counting Professional Development (MCPD) program in Abuja… yesterday

NAIRA SCARCITY: BUHARI, BAGUDU, TAMBUWAL, EMEFIELE, BAWA MEET, SEEK SOLUTION either partially or in full before services are rendered. The chairman stressed that emergency situations might arise requiring immediate cash payments, adding that some of the critical service providers are unbanked. Yakubu noted that over the years, the commission had worked with the CBN and commercial banks to pay for such services seamlessly during general election, as well as off-cycle and bye-elections. He said the Commission had also migrated all its accounts at national and state levels to the CBN, adding that the arrangement had worked without encumbrances. The chairman said: "In view of the recent policy involving the redesign of some denominations of our national currency, and the limits placed on cash withdrawals, we consider this meeting important in addressing some of the areas of concern with just 17 days to the 2023 general election. "We are confident that arising from this meeting, we can assuage the anxiety expressed by some of our service providers. We are determined to make the 2023 general election one of the best organised elections in Nigeria but we cannot do it alone. "That is why the Commission is mobilising every critical national institution for the success of the election. This meeting is part of this effort." While at the office of the National Security Adviser, Babagana Monguno, Yakubu said security was a critical moment for the 2023 general election with just 16 days to go. The chairman said: "We want to welcome the assurances from the National security adviser, the Chief of Defence, the Inspector general of police and (other) security agencies. "We are aware that additional security has been deployed to our facilities nationwide. We also note the increasing tempo of activities in many troubled spots nationwide. We are confident that these actions will further reassure voters, our personnel, service providers, stakeholders of their safety during elections and free, fair and peaceful process. We look forward to a comprehensive plan for the deployment of security personnel." Responding, Monguno assured that the security agencies were on ground. He said all the security agencies were up to the task, while assuring that Nigerians would exercise their franchise in a peaceful atmosphere. He stated: "We know what we have done. We are sure of what we have on ground. All of us here who are the managers of security in the electoral process know what we're doing. "We are not in any way in doubt but we need to let the entire country know that agents of bad news peddling all kinds of stories around, we see these on social media. If these are intended to scare people, I want to dispel such illusions. “Everybody that is concerned in carrying out his legitimate undertaking, casting his or her vote

will do so in a secured atmosphere. It's very important that Nigerians are not pushed to the limit where they will abandon their number one responsibility as citizens. All security agencies are up to the task."

FG Blames Opposition for Politicising Naira Redesign Policy

In a related development, the federal government has flayed the opposition for turning the naira redesign issue into a political blame game. Mohammed, who said this, criticised the opposition political parties for going to court to obtain an injunction, restraining Buhari and the CBN from extending the February 10 deadline for Nigerians to exchange their old N1,000, N500 and N200 for new ones after his meeting with Progressives' Governors last Friday, where the president had urged citizens to give him a seven-day window to resolve the currency crunch that had emanated from the implementation of the policy. The minister said the federal government was mindful of the inconveniences currently being endured by citizens as a result of fuel supply disruptions and the currency scarcity, saying government was working assiduously to restore normalcy to the critical enablers of economic activity and to take added measures, where necessary, to alleviate the pains of Nigerians. “These curious actions by the parties concerned is clear evidence that the opposition has turned this whole issue into a political game, preferring to make Nigerians suffer more on the altar of an unconscionable political gamesmanship. “Or how else can one explain the fact that these unscrupulous opposition parties do not want any action that could reduce the pains being experienced by Nigerians? How else can one explain the fact that they have decided to legally hamstring Mr. President, in particular, from providing any relief for Nigerians suffering from the cash crunch? “It is bad politics when you put the interest of desperate political parties over and above that of Nigerians, the same Nigerians whose votes you earnestly seek,” Mohammed said He said the desperate actions would, “not save the sinking political parties,” saying voters had already seen that they were the real enemies of the people and not Buhari or the All Progressive Congress (APC). According to him, despite their antics government was willing and able to take decisive steps to bring succour to Nigerians in the shortest possible time.

CBN Disburse over N1bn to Banks in Edo in Three Days

The CBN said over N1 billion had been disbursed to Edo State in a span of three days to cushion the hardship faced by bank customers. The Director, Risk Management, CBN, Abuja, Dr. Blaise Ijebor, dis-

closed this in Benin City, yesterday, where he implored citizens to explore alternative means of transactions to ease the demand for cash in the economy. He said: “We are pushing out money regularly. On Sunday, we gave banks N400 million. That is why they were paying money on Monday. We gave out N200 million on Monday and today we have given out N460 million. “We are doing everything within our power to improve the situation. We have allowed banks to pay over the counter with the limit of N20,000 payable to each person. We also gave money to microfinance banks to pay over the counter with a maximum of N10,000. The microfinance banks are to concentrate on the rural communities. “I have been around the metropolis this morning to inspect bank branches and ATMs and I can tell you the crowds are reducing because we are making payments. We will continue to do everything within our power to improve the situation.” He noted that the CBN was expecting a shipment of new notes, which would be dispensed through ATMs, adding that by tomorrow, the ATMs that were empty would start working. “If we are a little bit patient, very soon, the money will be everywhere and there will be no need for these problems,” he added. Explaining the need for bank customers to explore alternative means of transactions, Ijebor said: “We are working with the Edo State Government for people to be able to make transactions with their residency cards when it is introduced to the economy. It's a laudable project and we are supporting the state government on that. “We are encouraging everybody to use alternative means of payments, such as bank apps, ATMs, USSD, POS, among others. For those without a bank account, this is a good opportunity to open one. We have authorised agents to do that for customers." He also called on POS operators and others selling the new naira notes to desist from such acts, as actions will be taken against anyone caught engaged in such acts. On his part, Commissioner for Communication and Orientation, Hon. Chris Nehikhare stated that the state government was interested in ensuring the citizens find relief, urging Edo residents to explore alternative payment options.

Ganduje Raises the Alarm Over Plot to Disrupt the Democracy

But Ganduje has lamented that elements of the annulled June 12, 1992 presidential election were regrouping and dangerously masquerading in the prevailing crisis generated by the cash scarcity to allegedly scuttle the nation's hard earned democracy. He said the group's latest attempt at that was camouflaging in

unknown political parties through the use of legal instruments to further impose unfeasible cash policy that was taking its toll on the masses in the country. Reacting to an interim injunction issued by a federal high court in Abuja, stopping the CBN from extending the 10-day deadline set for the currency swap, the governor noted that the unknown political parties were also allegedly colluding with the main opposition party, the People's Democratic Party (PDP) to execute this fiendish scheme. In a statement issued by the Commissioner for Information, Kano State, Malam Muhammad Garba and made available to THISDAY, yesterday, the governor further observed that the open support for the policy by the main opposition party and its presidential candidate, Atiku Abubakar, also laid bare the alleged grand complicity between the opposition and apex bank to deliberately thwart the nation's hard earned democracy by imposing harsh policies calculated to weaken the masses. He said it was unfortunate that the CBN was insisting on the imposition of the time frame for the old naira notes to cease to be legal tender, in total refutation of the obvious national dearth in the necessary technological infrastructure for the process.

TUC Gives FG 7-Day Ultimatum to Address Currency, Fuel Shortages.

The Trade Union Congress of Nigeria (TUC) has given the federal government within seven days, beginning from yesterday, to provide a solution to the twin problems of currency unavailability and fuel shortages. It said it was bewildered that the country was being dragged through the twin crises of currency and fuel shortages. In a statement jointly signed by the TUC president, Festus Osifo and General Secretary, Nuhu Toro, the union said Nigerians have never been subjected to the nightmare of being unable to access their hard-earned money in the banks. It said: "Congress is however, not going to wait in perpetuity for the political leadership to put on its thinking cap. Therefore, we demand that the federal government within seven days, beginning from Tuesday 7th February, 2023 provides a solution to the twin problems of currency unavailability and fuel shortages. "The leadership of TUC shall be monitoring the situation closely and will give further directive should the situation not improve. All State Council executives are hereby put on red alert. “Nigeria belongs to the people, not to the government or the birds of passage who hold power. We should therefore be willing to make the needed sacrifices, if necessary, to salvage the country". TUC said never in the history of the country have Nigerians been

subjected to so much pain, sorrow and anger which threatens to boil over into the streets. "Indeed, pockets of protests have broken out in some states. Nigerians have never been subjected to the nightmare of being unable to access their hard-earned money in the banks leading to business closures and inability to pay for food, transportation and medical bills amongst other necessities. "Also, the situation where the populace is forced to buy Nigerian currency or part with a significant percentage of cash just to get access to their own money is disheartening and evil. It is unacceptable that a country of laws with a plethora of government and security services in place is unable to curb these crimes against the people and bring perpetrators to book," it added.

ACJHR Hails Court Order Barring Shift in Deadline

A Civil Society Organisation, the African Center for Justice and Human Rights (ACJHR) has said the court order barring further shift in the deadline set for the monetary policies of the federal government would sanitise financial markets and help to achieve credible polls. The group in a statement by its strategic communication consultant Mr. Abubakar Isa, said the order of the court had rendered futile all the behind-the-scene efforts by some state governors to force the hand of the president to reverse the policy or at least extend same. The ACJR cited possible end to currency hoarding, inflation, and counterfeiting as key reasons why they support CBN decision. The group expressed optimism that redesigned naira would further take the CBN cashless policy initiative a nudge higher by raising the bar for more stakeholders’ onboarding of the Central Bank Digital Currency. Part of the statement read, "The CBN Governor, Godwin Emefiele had argued that an estimated N2.73 trillion of the N3.23 trillion currency in circulation in Nigeria, representing about 85 per cent of the total had remained outside the bank vaults. "The decision taken by CBN as it relates to the new banknote and time stipulated for the removal of the old note is timely, patriotic, it will not only curb crime, it will help to ensure that the N2 trillion cash outside the economy would be brought in, and dry septic tanks and other places where the notes have been piled. "The court order is the first step in sanitizing the country’s financial market and help in conducting very credible polls as politicians will find it extremely difficult if not impossible to have access to cash to compromise elections." Similarly, ethnic youth groups, including the Arewa, Ohanaeze, Oduduwa youths have also hailed the high Court of the Federal Capital Territory which barred any interference with the currency redesign terminal date of February 10th or issue any directive contrary to the

February 10 date. The socio cultural groups in a joint statement signed by Ohanaeze Youth group Secretary General, Nwada Amaka said looters of commonwealth have lost. The groups said the order was best for the country and would afford the stakeholders opportunity to now concentrate on how to ameliorate the hardship occasioned by the policy.

APC Professional Forum Demands Review of Deadline

The APC Professional Forum has called on Buhari to further extend the deadline for the old currency to cease to be legal tender so as not to further overheat the economy with the likelihood of unintended consequences. The Board of Trustee (BoT) Chairman of APC and former Governor of Bauchi state, Isa Yuguda, while addressing a press conference in Abuja, yesterday, said the forum was compelled to address the media on the current tensed socio-economic environment in the nation occasioned by the twin factors of persistent scarcity of petrol and widespread discontent and difficulties arising from the implementation of the well-intended currency redesign policy of the federal government. He said while the forum saw nothing entirely wrong with the government's decision to embark on the currency redesign policy to address the distortions in the economy, but expressed concern about the mode of implementation, which was causing the citizens untold hardship in virtually every part of the country. Yuguda, commended Buhari for heeding the call for an adjustment in the deadline for the old currency to cease to be legal tender till February 10 2023. His words: "But in view of the chaos and near anarchy in some parts of the country, we are of the view that the situation may require more efforts and steps in order to address the possibility of major social upheavals as the elasticity of the average citizen is stretched to a breaking point. "It is our considered view that the timing of the implementation of this laudable policy should be urgently reviewed. "We call on President Buhari to consider all options including but not limited to a further extension of the time for the old currency to cease to be legal tender so as not to further overheat the economy with the likelihood of unintended consequences." Yuguda noted that rightly or wrongly, the disruption was being viewed in many quarters as sabotage, saying the forum was eagerly looking forward to a return to normalcy across the country and not only in Abuja. "This is especially as the situation is being milked for political mileage which is clearly not good for the ruling party in the run up to the forthcoming elections," he added.

WEDNESDAY FEBRUARY 8, 2023 ˾ T H I S D AY

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NEWS

PREMIUM TRUST BANK WINS AWARD...

L-R: Etsu Nupe of Bagandozhi, His Highness, Dr. Yahaya Abubakar; Executive Director, PremiumTrust Bank, Mr. Shina Atilola, and Managing Director, Mr. Emmanuel Emefienim, during the presentation of the Most Innovative Bank Award 2022 to PremiumTrust Bank at the 14th Edition of Leadership annual conference and awards, in Abuja… recently

Buhari: Peer Review Good for Strong Leadership in Africa Deji Elumoye inAbuja

of the Second Country Review Report (CRR) and the National Programme of Action (NPoA) of Nigeria. He noted that the report would strengthen the implementation of African Union Agenda 2063, the strategic framework for the socio-economic transformation of the continent over the next

50 years. He said: ‘‘It comes with a strong mandate on New Partnership for Africa’s Development (NEPAD) and African Peer Review Mechanism (APRM), especially now that the continent is gearing

Gombe NLC Pledges to Support Gov Yahaya’s Re-election

Blessing Ibunge in PortHarcourt

President Muhammadu Buhari has called on member states of African Union (AU) to imbibe the culture of peer review and peer to peer learning for proactive and strong leadership in the continent. The President made the call yesterday in Abuja, at the launch

Segun Awofadeji in Gombe After listening to the endless lists of achievements by the Governor Inuwa Yahaya-led administration in the last three and a half years, the Gombe State Council of the Nigeria Labour Congress (NLC) yesterday spoke with one voice, saying the governor deserves their support for a second term if the wheel of advancement in the state needed further progress. This came to the fore during an interactive session organised by the Political Commission of the Nigeria Labour Congress, for

all candidates of political parties in Gombe State. The leadership of the NLC who had earlier in the day attended the flag -off ceremony for the presentation of cheques to retirees in the state by the governor said they were convinced that the governor meant well for the people of Gombe State and deserves support and solidarity of workers. During the cheque presentation ceremony, some certain facts emerged like the payment of about N7.9 billion backlogs of retirees’ entitlements in the state.

‘NNPP ‘ll Win 2023 Elections’ George Okoh inMakurdi

The Benue State Chairman of the New Nigerian People Party (NNPP) Group Captain Steve Adah(rtd) has predicted that the party would win the 2023 elections across the country. He called on the party supporters to take their destiny in their hands and vote for NNPP to bring about quality leadership. Adah made this known yesterday while inaugurating the NNPP Benue state governorship campaign council in Makurdi.

He promised that the party would solve the perennial fuel crises as well as find solution to the economic crises the country is facing if voted to power. The NNPP governorship candidate Professor Bem Angwe, charged the team to go all out and canvassfor votes for all its candidates in the election. He added that the team should work as a family while also assuring that the party will deliver Nigeria from the shackles of maladministration and poor governance.

Fed Poly Nekede Invents Electric Car, Security Drone Amby Uneze in Owerri The Rector of the Federal Polytechnic, Nekede, Owerri, Michael Arimanwa, has stated that the institution has over the past four years of his tenure developed far-reaching inventions such as electric car and security drone for He also promised that the institution would not victimise the student, Ogechi Okoroafor Sharon whose immoral video went viral across the world as the management of the polytechnic was still investigating her comment on

the claim of graduating “with the help God and her private parts.” Addressing newsmen,the rector also assured the people that due process would be followed in handling her claims in the viral video and make their findings known to the public soon. The rector while reeling out a long list of an abridged achievement he recorded in his four year tenure, he specifically said that TetFund had been of immense assistance towards meeting the set goals.

towards the implementation of the Second Ten Year Development Plan to consolidate and seek the acceleration of better society.” The president pledged that Nigeria would continue to support Africa’s renewal and

rebirth in line with the collective commitment to the principles and guidelines of the APRM in order to consolidate Africa’s path to healthy democracy, sustainable growth and development. ‘‘As a government, we are

proud of the steady progress being made in the country as stated by the report and will continue to support the APRM process and to ensure adequate monitoring and evaluation of the report implementation.”

Security Agencies Acting as Armed Wing of Rivers PDP, Says Abe

The governorship candidate of the Social Democratic Party (SDP) in Rivers State, Senator Magnus Abe, has accused some security agencies of playing the role of armed wing for the People Democratic Party (PDP) to detriment of all other Rivers people. Senator Abe regretted that the security agencies which is

supposed to protect lives and properties of all Nigerians, irrespective of their religion, tribe or political affiliation was now bias and being used as a tool to allegedly torment Rivers people who are in opposition to the PDP. The SDP gubernatorial candidate made this observation yesterday during the inauguration of the party’s campaign council in the state, held in Port Harcourt.

Abe, who advised his party members and Rivers people to participate fully in the 2023 general elections, frown at the level opposition parties are being attacked during their campaigns in different areas of the state. He cautioned his members to trade with consciousness during the elections and shun any form electoral violence. “I have received very credible

reports that names of leaders and members of the SDP across the state have been compiled and frivolous, fictitious petitions have been compiled and arrangements have been concluded with some security agencies who are acting more as the armed wing of the state PDP, than civil servants that are been paid by the government and people of Nigeria to provide security for all Nigerians.

FCTA/FHA to Compensate Families of Gwarimpa Collapsed Building Victims Olawale Ajimotokan in Abuja The Federal Capital Territory Administration (FCTA) and the Federal Housing Authority (FHA) have commiserated with the families of the persons that died in the building that collapsed in Gwarimpa on February 3,

2023, while directing that a compensation plan be prepared for them. This decision came about after a meeting between top officials of the FCTA and the FHA where the report was presented to the FCT Minister, Malam Muhammad Musa Bello by the Chairman of

the FHA, Senator Lawal Shuaibu. They regretted the loss of lives and also set up a technical team to look into the report prepared by the FHA on the circumstances surrounding the collapse of the three-storey building at 6th Avenue Gwarimpa Estate, which led to three fatalities.

The FCT Minister also announced that in line with FCTA policy, the allocation of the collapsed building be revoked. The meeting resolved that the investigation by the technical team was also aimed at strengthening the internal working mechanism of both agencies.

Emenike Promises Industrial Clusters to Boost Rural Devt in Abia Emmanuel Ugwu-Nwogo in Umuahia

The Abia State governorship candidate of the All Progressives Congress (APC), Chief Ikechi Emenike has promised to set up agro-processing industrial clusters in all the 17 local governments (LGs)of the state to maximise their peculiar agricultural potential.

He made the promise yesterday at the commencement of his LG campaign rallies after observing a week-long break in campaigns in honour of the late governorship candidate of the Peoples Democratic Party, Prof Uche Ikonne. The APC governorship hopeful, who was welcomed by a tumultuous crowd of party

supporters to Ndioru Central School, Oboro Ikwuano venue of the rally, said:”Ikwuano is an agricultural belt of the South-east zone and we are going to add value to your farm produce by setting up processing factories that would create jobs and improve your livelihoods.” He encouraged Ikwuano people to cast their votes for

APC and reap the rewards of good governance, adding that nobody should entertain any fear that their views would not count as obtained in the past. “We’re asking everybody to believe in APC, work for APC and vote for APC to make Abia better,” he said, adding, “when the victory comes it will be for the good of Ndi Abia,” he said.

Ekiti Speaker Seeks Diaspora’s Support for Investment Drive Gbenga Sodeinde in Ado Ekiti The Speaker of the Ekiti State House of Assembly, Rt. Hon. Olubunmi Adelugba, has urged the Ekiti in Diaspora to key into the blueprint of the administration of Governor Biodun Oyebanji to boost the industrial and investment profile of the state.

Rt. Hon. Adelugba made the call yesterday when she hosted members of Ekiti in Houston Association, the umbrella body of Ekiti indigenes resident in the city of Houston in the state of Texas in the United States of America in her office in Ado Ekiti. According to a statement by the Special Adviser (Media) to the

Speaker, Odunayo Ogunmola, the association members, who were led by their President, Pastor Bolu Alabi, said they were impressed by positive developments going on in their home state. They therefore expressed readiness to partner with the government in key sectors of the economy. The Speaker urged Ekiti

citizens in other parts of the world to leverage on the enabling environment provided by the Oyebanji administration for development purposes especially in agribusiness, commerce, tourism, Information and Communication Technology, education, health, among others.

Bayelsa Intensifies Public Awareness on 2023 Census Olusegun SamuelinYenagoa

The Bayelsa State Government has made an appraisal and review of preparations in the state towards the national population census scheduled to hold nationwide next month.

The government has therefore, put plans in place to intensify public awareness of the forthcoming census through radio jingles, printing of posters, banners and flyers to be distributed to all towns and communities spread across the eight local government

areas. The Deputy Governor of Beyelsa, Senator Lawrence Ewhrudjakpo, disclosed these while briefing the heads of local government, and the chairmen and secretaries of the census committees set up at the local government

level, at a meeting in Yenagoa. The deputy governor explained that so much work was urgently needed to be done in order to create the necessary awareness among the Bayelsa populace concerning the 2023 census exercise.

WEDNESDAY FEBRUARY 8, 2023 ˾ T H I S D AY

NEWSXTRA

GRATUITY PAYMENT IN GOMBE...

Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya(left) presenting a cheque to one of the retirees during the payment of N3 billion gratuity to retirees in Gombe....recently

Insecurity: Niger Government Closes Down Two Post-primary Schools LaleyeDipoinMinna The Niger State Government has blamed insecurity for the earlier closure of two post-primary schools located at Kuta and Mararaban Daudu in Shiroro and Munya Local GovernmentAreas of the state.

The state Governor,Abubakar Sani Bello, declared in Minna yesterday that: “Due to insecurity, we had to relocate the Dandaudu and Kuta Teachers Professional Training Institute after having put in place the state-of the-arts facilities to aid teaching and learning.”

Warri Council of Chiefs Mourns Sunday Rone The Warri Council of Chiefs has said the Iwere (Warri) Kingdom is deeply saddened by the demise of the longest serving member of the Council, Chief Sunday S. Rone. The council, in a condolence message to the Head of Rone/ Ejeigbe Family of Orugbo-Warri, mourned the passage of Chief Rone, whom the council said stands in its record as the oldest chief in the Kingdom having served four successive monarchs in a row. “We received with utmost shock and a deep sense of loss the news of the passing of our most respected and amiable Chief Sunday S. Rone, (alias Ogunoyibo) the Obazuaye of Warri Kingdom. Our heart is burdened and full of grief for the loss of this very amiable Chief of Warri Kingdom,” the Council

said in the condolence message to the Rone family. The Warri chiefs said they would sadly miss the Chief Rone’s wise counsels and jokes at council meetings and “above all his regal dancing during official outings for the Kingdom and for His Majesty, the Olu of Warri.” While affirming that the council will miss Chief Sunday Rone greatly, the chiefs prayed for God to grant him eternal rest and imbue his family and indeed the entire Itsekiri Nation, the fortitude to bear the huge loss Chief Sunday Rone passed on Monday 26 of December 2022 at the ripe age of 86 and following his death condolence messages have been pouring in from prominent Nigerians and international friends and associates of the Rone family and the Warri Kingdom.

Senator Adeola Empowers 5,500 Traders in Ogun West James Sowole in Abeokuta The Chairman of the Senate Committee on Finance and the All Progressives Congress (APC) candidate for Ogun West, Solomon Adeola, has empowered more than 5,500 traders selected across the five local government areas in the senatorial district. The money grant, totalling N137.5 million, was distributed to traders at N25million to each beneficiary to boost their businesses. Speaking at the empowerment programme held at the Asade Agunloye Pavilion in Ilaro, Adeola, popularly called Yayi, explained that the market women and men were drawn from various markets in Yewaland. The grant was transfer to beneficiaries through bank transfer to insulate them against the economic crunch being faced by the country. Adeola said the market women had witnessed low

levels of trading activities of goods and services, hence the empowerment programme. He pointed out that the programme tagged: ‘Oloja Yayi’, was fashioned after the economic empowerment of the state Ogun State Governor, Dapo Abiodun, ‘Oko’wo Dapo’ and the ‘Trader Moni’ of President Muhammadu Buhari, which he said had provided succour to market women across the state. According to him, the initiative was meant to complement the empowerment efforts at both the state and federal levels. While lauding the state governor for the initiative, Adeola disclosed that he facilitated the empowerment in conjunction with Nigerian Institute for Oceanography and Marine Research (NIOMR) with Start-up grants for agro-manpower, artisanal manpower and cage culture carp specie restocking for market women and men.

Bello made the disclosure while speaking at the combined graduation for students of the Teachers Professional Training Institute, an event which took place at the Justice Idris Legbo Kutigi International

Conference Centre in the state capital. He said the two schools were relocated to the premises of the Zarumai Secondary School in Minna, but explained that “the government will not waver or succumb to the

threats of insecurity in our quest to put the state on the path of sustainable development in the education sector.” Despite the optimism expressed and confidence shown by the governor, he, however, hinted that

the school may move permanently to the premises of the former Women Teachers College in Minna with the government raising N1billion to provide infrastructural facilities in the school.

NDDC Board: Delta Monarch Calls for Funding of Commission Wants past administrators to account for N700bn

Adibe Emenyonu in Benin City

Against the backdrop of the reconstitution of the Niger Delta Development Commission (NDDC) board and the fact that the commission is owing contractors over N400 billion, the Ovie of Idjerhe Kingdom in Delta State, His Royal Majesty,

Monday Whiskey, Udurhie I, has called on the federal government to release all funds due to the commission to enable the newly inaugurated board perform. He also called on government to probe past administrators of the NDDC in the last three years in order to account for over N700 billion released to the

commission. Addressing journalists yesterday, the traditional ruler, also called for better funding of the commission to enable it discharge its mandate, pointing out that the new board cannot perform optimally because it lacks funds. Besides, he noted that the

NDDC had experienced undue interference from the Ministry of Niger Delta Affairs, and further urged the government to transfer the NDDC to the Presidency to as it was before like the North East Commission, adding that “The current board of NDDC will work better under the Presidency.”

Outrage as Armed Militia Attack CUPP Spokesperson Country Home Again Sunday Aborisade in Abuja

There was outrage in Umukegwu Akokwa, in Ideato North Local Government Area of Imo State, when armed militia invaded and attacked the country home of the spokesperson for the Coalition of United Political Parties (CUPP), Ikenga Imo Ugochinyere, for the second time in one month. Ugochinyere is also the

candidate of the Peoples Democratic Party (PDP) for the Ideato North Federal Constituency. He was not at home when the attackers struck. A statement from the CUPP spokesperson yesterday, made available to THISDAY in Abuja, explained that the assailants were masked and heavily armed. The gunmen were said to have

attacked workmen who were in the house carrying out repairs from the last attack. Those attacked included masons, welders, carpenters, electricians and mechanics. Some of the workmen who ran for their lives called from their hiding places and informed the opposition spokesperson of the attack. Part of the statement read,

“The unknown gunmen who yet again had a field day spent about 20 minutes unchallenged despite SOS messages sent out immediately Ugochinyere got the notification. “Inspection around the house showed that the assailants broke down security gates, and destroyed some of the already repaired damaged areas from the last attack.

Ngige Charges NLC on Implementation of ECA ACT 2010 Ugo Aliogo

The Minister of Labour and Employment, Senator Chris Ngige, has urged the Nigeria Labour Congress (NLC) to expedite action towards the implementation of the Employees’ Compensation Act (ECA) 2010 by State Governments. He noted that the non-

implementation of the act has resulted in many workers not being covered by the ECA Act for injuries and even deaths sustained in the place or course of employment. Ngige, who disclosed this yesterday at the 13th Quadrennial National Delegates’ Conference of the Nigeria, said the NLC should

remedy this situation as the welfare of workers is one of the cardinal functions of Trade Unions including the Confederations. He also stated that in this regard, it should be noted that the PENCOM Act 2014 makes it mandatory for all employers to give Insurance Cover for workers employed by them.

The minister appealed to the incoming leaders of the NLC to address the issue of reportage which he said has been a bane on sincerely conducted social dialogue and negotiations as the majority of the workers’ population are left with no information, underinformation and most often misinformation.

NBA Petitioned over Provisions of Finance Acts, 2021, 2022

UgoAliogo

Amember, Taxation Standards and Practice Monitoring Committee of the Chartered Institute of Taxation of Nigeria, (CITN), Francis Uzoma Ubani, has petitioned the Nigerian Bar Association (NBA) over some provisions of Finance Acts, 2021, 2022.

A statement made available to THISDAY said an acknowledged copy of the petition has been made available to journalists in which Ubani called on the NBA to rise to the occasion and not give room to ‘brazen violation’ of the Constitution of Nigeria. The petition was titled:” Unconstitutionality of some of

the provisions of the Finance Acts, 2021 and 2022, unlawful and illegal collection, recovery and distribution of revenue from stamp duties/electronic money transfer levy (EMTL) by the Federal Government of Nigeria, contrary to the Provision of Section 163 of the 1999 Constitution of the FRN, as altered, and the need for all Federal

Government institutions, money deposit banks and individuals involved to be more transparent and obey the rule of the law on stamp duties/EMTL collection, recovery and distributions as enshrined in the relevant provisions of the 1999 Constitution of the FRN, as altered and the Stamp Duties Act, as amended.”

NACETEM to Partner Local, Foreign Institutions for Knowledge Advancement Yinka Kolawole inOsogbo The overseeing Director-General and Chief Executive Officer of the National Centre for Technology Management (NACETEM), Ile-Ife, Osun State. Mr. John Akintayo Omimakinde, has stated that the agency will always collaborate with institutions locally and globally to

advance frontiers of knowledge with a view to accomplishing sustainable development. Speaking yesterday at the Memorandum of Understanding (MOU) signing ceremony between the Nigerian Institute of Transport Technology (NITT) and NACETEM in Abuja, Omimakinde noted that in an age when knowledge changes

at the speed of light, no organisation can afford to operate within its cocoon or work in isolation. He posited that the time Nigeria is currently facing calls for active interaction and engagement between and/or among institutions to achieve any meaningful development that would rub off on the society

in terms of concrete impacts. The director-general stated that for this reason, NACETEM has always been opened to collaborating with institutions locally and globally to advance frontiers of knowledge with a view to accomplishing development that will stand the test of time.

˜ ΀˜ ͺ͸ͺͻ ˾ T H I S D AY

PERSPECTIVE

Analysing Atiku’s Agenda for Power Sector Chukwuma Mbanefo

he erratic power supply in Nigeria is generally believed to be the bane of economic and industrial development in the country. Many factors, including government inconsistent and misguided power reform policies; inefficiency in power generation, transmission, distribution and consumption; and the incompetent workforce of energy companies have been the reason for the near collapse of the sector. Nigeria is Africa’s largest economy, but also has one of the widest energy gaps in the world. With a growing population, Nigeria urgently needs to improve its power sector. It is therefore imperative that the next president must be up to his game and tackle power effectively if the economy must grow. Atiku had said his approach, if elected as president, would be to first remove the entire electricity value chain from the exclusive list and give states the power to generate, transmit and distribute electricity for themselves. If he does this, Nigeria will be revived immediately. This is because the verdict by Nigerians is that the ruling All Progressives Congress (APC0, has performed abysmally and comprehensively failed, especially in the power sector with the number of grid collapses experienced so far in the country. Nigeria has a population of over 220 million people and energy from the national grid is barely 4,500MW daily. Experts opine that solving Nigeria’s erratic power problem necessitates better governance and management of resources. Energy problems of Nigeria are littered at each of the three tiers of the power sector; generation, transmission and distribution. Therefore, solving electricity problems in Nigeria has to go beyond the oratory. It would require leadership competence in policy formulation and implementation, capital infrastructure investment and sustainable maintenance.. This was exactly the position of the Senator for Ikot Ekpene District, Senator Chris Ekpenyong, who expressed optimism that Atiku Abubakar will remove the entire electricity value chain from the exclusive list and give states the power to

Atiku generate, transmit and distribute electricity. Ekpenyong believes that this will be the starting point of stable power for Nigerians. He also said: “There is a need for the country to have data-driven discussions on key solutions to the myriad of challenges facing the electricity sector. “Issues are bothering on infrastructure, distribution of available megawatts of electricity generated and banking on alternate sources of energy to solve the country’s electricity

challenges. It is important to have solutions that are backed up by data and not just assumptions. “Transmission and distribution lines in Nigeria are dilapidated thereby, causing an infrastructural gap for the power sector. Some other issues facing the country’s electricity sector include poor gas supply and hydropower sources refusing to fire up as they ought to. Nigeria is not producing enough to meet the growing demands in the country”, Ekpenyong

agrees but further insists that “there is a need to have policies that help the energy sector and the importance of monitoring key players in the sector.” Atiku understands the need to invest in energy in Nigeria. If this problem is solved, according to him, Nigeria will be on its way to rapid development with new investments to the energy sector, and conduct power asset inventory and audit to determine priority investment needs across the value chain and funding to replace or repair assets. Resolving long-standing government liabilities to the electricity sector and create fiscal rules for future payments will help prevent debt buildup as well as increase the capital allocation for the Transmission Company of Nigeria (TCN), including an analysis of its budget performance. We should also consider privatization of the Transmission Company of Nigeria, TCN.” But the PDP candidate is not resting on his oars in his quest to solve the epileptic power supply in the country. On how he would improve the electricity supply in the country, Atiku said: “Our administration will consider declaring a state of emergency in the Power Sector to underscore our concerns about the state of affairs in the sector. “As a short-term measure to ensure enhanced supply within the first year of the new administration, I shall initiate and implement an Emergency Power Programme (EPPs), which can deliver additional capacity in certain key areas. “Over the medium term, I will then go on to propose legislation for the removal of the entire electricity value chain from the exclusive list and give states the power to generate, transmit and distribute electricity for themselves.” Also, the PDP candidate said: “Secondly, my policy shall aim at achieving greater coordination of investments in the entire electricity value chain. Investments in additional generation capacity are futile without consideration for the complementary transmission and distribution infrastructure to wheel the additional energy.” Here, Atiku shows understanding and knowledge of the issues and readiness to take them head-on. r.CBOFGP TFOU UIF QJFDF GSPN "CB "CJB 4UBUF

D E M O C R A CY A N D T H E J U D I C I A RY primary problem with Nigeria’s electoral system is the lack of internal democracy in the political parties. If as Robert Dahl and others have argued, the beauty of democracy is that it allows competition and public participation, then the level of democratic participation in the political parties is very important. It is this feature of democracy that has lacked for long. Nigerian political parties have been run mostly as private franchise. It is a form of autocracy. The few who gain control of the machinery of power in the parties have used that power to impose candidates on the electorates thereby defeating the requirement of extensive political participation. The Supreme Court gave legitimacy to this privative practice by the obtuse concept of ‘internal affairs’ of the party which undermines competition and denies party member of political participation, which is the most important aspect of democratic election of candidates. This concept which made its unholy appearance in a decision by the revered Justice Obaseki in the 1980s have been cast into deserved oblivion, only to be resurrected by the Supreme Court in two recent cases. In the cases of Governor Akpabio and the Senate President, Senator Lawan, the Supreme Court undermined internal party democracy and legitimized any decision the party leader makes in the name of the party because it is the party that chooses candidates, notwithstanding that the electoral law has stipulated how candidates should emerge. The implication of washing its hand from the need to protect the rights of the members of the party is that the Supreme Court has wittingly or unwittingly rewritten the cardinal rules of Nigerian democracy and helped to entrench it as an ‘electoral autocracy’. The new electoral law understands the pathology of Nigerian politics and enshrined a regulated process that ensures that party members are able to determine who they present to the electorates in a democratic manner. Sections 84 and 85 are elaborate constraints to address the freewheeling of party bureaucrats. To strengthen this regulatory process, the Act requires parties to submit the membership lists to the regulator of election for verification before holding any democratic congress. The regulator is also mandated to attend such congress or primary to confirm the results. Previous electoral regimes did not have such express provisions which deceived the Supreme Court to support the usurpation of the rights of party members by party leaders. The purpose of the change is to enable the election regulator to have a step-in right to reverse such usurpation and to help the court to reassert the rights of party members to choose their candidates. But the Supreme Court in one moment of illogic has incinerated the evolution of political practices that have culminated in a policy redress of

Chief Justice Olukayode Ariwoola a perceived malady. The Supreme Court is final but fallible. The faulty audacity of this ‘Platonic Guardians’ would irk Learned Hand himself. In pursuit of the principle of ‘internal affairs of the party, the Supreme Court has put a man who did not contest elective primary as the candidate for the Senate. This man is the third highest ranking political officeholder in Nigeria with all the suggestions that he may have ‘wangled’ his way onto the electoral slate, notwithstanding the ‘pretences’ of the electoral law. As Justice Wendel Holmes would say, law is what the court say it is and nothing more. The Supreme Court has imposed a candidate who did not contest primary election. There may be many technical reasons to justice this imposition. But the truth is that it detracts from the intention of the electoral law and is another evidence of the poor results of judicialization of politics. In the runup to the 2007 general election, I argued in an opinion piece that it was the judges who will select the winners. I made the point after observing how party leaders brazenly hijacked their party leadership structures, distorted elective primaries, and imposed their cronies as candidates of the parties. They did not just impose candidates at will, but also changed them at will. I concluded that obstruction of due process would incense the judges to hit back at party leadership and impose candidates. The prediction turned out to be right. From Senator Ifeanyi Ararume to Rotimi

Amaechi, the Supreme Court brazenly overruled the party leaders. Sadly, they also overruled the electorates. In the Ararume case, the Supreme Court nullified the nomination of the Charles Ugwu as the PDP governorship candidate for Imo State and declared Senator Ararume as the lawful candidate of the party. The PDP hit back by campaigning to its supporters to support the candidate of another party and not its own Supreme Court-imposed candidate. The PDP had its way. Its candidate was defeated. In the Rotimi Amaechi case, the Supreme Court learnt the lesson. It didn’t only declare that Amaechi ought to be the candidate, but it also installed him Governor even without Amaechi being a candidate in the elections. After being castigated for this unprecedented judicial recklessness, the Supreme Court asked that its decision should no longer be considered as good law. The trend of judicialisation of politics and elections in Nigeria has not abated. The new electoral law has tried to insert the electoral management body, not the courts, at the heart of elections. But the courts continue to be more determinative than even the electorates. The judicialisation of electoral politics raises serious concerns for democracy and governance. First, the more courts decide outcomes of electoral contests, they may make politicians focus on the management of judicial outcomes rather than political engagement in their quest for political power. This is dangerous for democracy. It weakens the legitimacy of judicial review as a non-partisan, counter-majoritarian framework to manage politics when it draws away from basic rights, and not to override politics when it does not threaten fundamental rights of minority groups. The idea of representative democracy is that the people, ordinary people, should rule themselves through those they choose, not those that enlightened elites prefer. It is right as Justice Learned Hand said, that one does not want to be ruled by a ‘Platonian Guardians’ but by elected representatives. When judges usurp the right to elect representatives, they empty electoral democracy of its meaning. Furthermore, as judges continue to insert themselves into electoral management through unprincipled determination of winners, they corrupt themselves. It is noteworthy that corruption surveys show that the judiciary is competing with police for the top spot on the corruption perception index. The increasing corruption in the judiciary may bear relation to its intermingling with politician on electoral matters. The temptation from desperate politicians wishing for favourable decision from the court is one that many Nigerian judges are not ethically and intellectually fitted to overcome. It is better to get them farther from the politicians than closer if we want to control judicial corruption.

It is a difficult task to walk the fine lines between a judicial review that is compatible with judicial deference to politics and one that crowds out the will of the people and the political branch in choosing representatives. I think one rule of thumb for not crossing the red line is to develop a coherent and intelligent theory of electoral democracy and build a deferential election jurisprudence from it. Democracy requires that the people govern themselves. The spatial complexities of a modern state means that citizens cannot gather at the Agora to make law and take turns to execute and adjudicate on the law. They choose amongst themselves a few to do so on their behalf. Every democratic order should always aim at upholding the right of the people to explicitly make the decision on who represents them. The court’s role is ancillary: it reinstates this power where usurped by bureaucracy and correct the exercise of majority power that damns the minority. The court should only intervene to determine winners and losers of an electoral contest when it must restore the choice the people have made. The court should never assert its choice in whatever guise against the choice of the people. The requirement of judicial deference to the people and the political branch in matters of choice of representatives of the people does not mean the nonsense about the internal affairs of the party that the Nigerian Supreme Court has wrongly elevated to a doctrine of law. Where party leaders violate the electoral law and present candidates for election different from candidates that members of the party had proposed in democratic primaries, it is part of an enlightened jurisprudence of electoral democracy for the court to step in and reverse the fraud against the people. The court should not allow party bureaucrats to take over the right of party members to select candidate in the name of deference to internal management of the party. The solution to judicialization of politics is for the political regulatory process to work. First, we should have politicians who are smart enough to regulate themselves through a more inclusive and rule-based political behaviours. Then we need to have an election management body that is not missing in action, one that understands and effectively utilizes regulatory tools to achieve competitions, participations and civil and political rights in the electoral process. When these two pillars are in place, the third pillar, the judicial regulation can be organized as a light-touch review of regulatory action that ends with a remand to the party or the regulator to do its job better, and not an usurpation of political decision by the non-political branch ends in Judges choosing winners and losers themselves.

WEDNESDAY, ΀˜ ͺ͸ͺͻ ˾ T H I S D AY

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

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Man Utd Plan Massive Clear out to Fund Osimhen’s Transfer

Femi Solaja with agency report

Manchester United have pushed further their determination to sign Super Eagles’ in-form striker, Victor Osimhen, from Napoli in summer transfer. Although the forward has been on the radar of the club as well as other notable teams across Europe, the Old Trafford side appear to be more committed and have designed a fresh strategy to land the gangling striker. Sources at United hinted yesterday that the club’s chiefs are planning a massive clear out of players not living to expected standard. Funds from sales of some of the players will help Manchester United to raise the big asking price tag of over £100million placed on Osimhen by Napoli. According to Manchester Evening News, United are planning to offload Anthony Martial in the summer amid plans to sign a new long-term striker.

The tabloid understands Martial is among the players United have listed to sell at the end of the season. Other players listed for the exit door include; Captain Harry Maguire and full-back Alex Telles . United decided to classify Martial as sellable before his latest injury setback last week. Martial returned from a two-and-a-half-week absence to score as a substitute in the League Cup semi-final second leg win over Nottingham Forest last week Wednesday. He however withdrew from the squad for the Premier League defeat of Crystal Palace three days later. Martial, 27, has missed 20 of United's 34 games this season and he has been absent for a total of 16 weeks through five separate injury lay-offs. The Frenchman is under contract until 2024 and United have the option of an additional year, so the upcoming summer transfer window is a prime time to try and cash in on Martial.

United manager Erik ten Hag has stressed a new goal scorer is a priority in the close season and United are interested in Tottenham Hotspur talisman Harry Kane and Victor Osimhen of Napoli. However, Spurs have made it clear that the club’s top scorer is not open to transfer by any of the rivals in the Premiership thus narrowing their choice to the gangling Nigerian forward, Ten Hag is also an admirer of Benfica's Goncalo Ramos and Mohammed Kudus, who worked with Ten Hag at Ajax. Martial tallied a meagre eight goals for United across the 202021 and 2021-22 seasons. He was loaned to Sevilla in January 2022 but Martial scored one goal in La Liga, Martial joined United for a fee rising to £58million on deadline day in September 2015 but he has only broken the 20-goal barrier once in a season. Martial has scored six goals this term but failed to complete 90 minutes.

Ghana’s Atsu Pulled out Alive from Earthquake Rubbles in Turkey Footballer Christian Atsu has been pulled from the rubble of a building "with injuries" after the earthquakes in Turkey, his club's Vice-president Mustafa Özat has told Turkish radio. Atsu, who plays for Hatayspor, was trapped after the earthquakes that have killed at least 4,800 people. The Ghana forward, 31, played 107 games for Newcastle and has had spells with Chelsea, Everton and Bournemouth. Hatayspor Sporting Director, Taner Savut, is still in the collapsed building. Hatay was one of the areas closest to the epicentre of the earthquake, and has suffered

extensive damage. "Christian Atsu was removed from the wreckage with injuries," Özat told Radyo Gol early hours of Tuesday. "Unfortunately, our sporting director Taner Savut is still under the rubble. "Hatay was deeply affected. We are coming towards the end of the most dangerous hours." Atsu, who won 65 caps for Ghana, joined Hatayspor in September 2022 after a season with Saudi Arabian team AlRaed. He scored the winning goal in the 90th minute of Hatayspor's Super Lig match against Kasimpasa on Sunday.

Lagos to Host Athletics Club Series

Lagos Athletics Association (LASAA) is pioneering the maiden edition of the athletics club series on February 19, at the Yaba College of Technology. According to the Chairman of LASAA, Solomon Alao, the tournament is aimed at engaging the athletes with a bid to keep them in shape for major events. “We want to keep the athletes busy in the best way possible and to make them competitive as well as provide an avenue where the young ones can compete with the best in the country,” Alao said. He added: “To foster friendship, develop spirit of competitiveness and to help put Lagos on the map once again as the centre for athletics development.” The Technical Director of LASAA, Enefiok Udo-Obong, said N10million would be competed for in four legs of the series. “In total, athletes will compete in four legs and they will be aiming to share from the N10million cash prize. It is the biggest rewarding competition in the history of athletics in Nigeria. The league format is innovative as it has never happened before and it

is hoped that World Athletics would adopt a similar stance to make athletics a follow-able sport,” he said. He however, said that the tournament is an open event but participants must register with their clubs to take part in the competition. “It is an open competition but you must register with a club to be part of the series. We are trying to develop a club system because they are the ones that develop the athletes. It is not only open for all athletes nationwide but the world over as we have some international clubs coming,” Udo-Obong added. Apart from the main event, Alao said schools within Lagos state would compete among themselves in the schools’ invitational to give the students the chance to showcase their talents and be discovered by top coaches. The one-day championships will have athletes compete in 100, 200, 400m, 400m hurdles, 800m, 4X100m relay, and long-distance races like 1500m, 3000m and 5000m. Winners in each event will garner points while the top 12 in each event will earn bonus points for their efforts.

The Ghanaian Football Association tweeted: "We've received some positive news that Christian Atsu has been successfully rescued from the rubble of the collapsed building and is receiving treatment. Let's continue to pray for Christian."

Victor Osimhen has turned ‘beautiful bride’ in Europe being courted by some of the big clubs

Peseiro Charges Golden Eaglets to Keep Working Hard Head Coach of the Super Eagles, José Santos Peseiro, has said that he is convinced that Nigeria is a country flowing with an abundance of football talents, after watching the training sessions of the U17 boys, Golden Eaglets on Monday morning at the NFF/FIFA Goal Project pitch, Moshood Abiola National Stadium in Abuja. The Portuguese tactician admitted he was very impressed with the performance of the players, and charged them to keep improving their game as preparations for the Africa U17 Cup of Nations in Algeria hot up. He also admonished players that would eventually be dropped not to be dejected as that would not be the end of their football career. "I am impressed with what I have seen with the performance of the players here. Nigeria is known for having very talented players, so I am therefore not surprised with the performance of these players," Peseiro said. "You have to keep working hard and keep improving your game. Unfortunately, not all the players

Super Eagles Head Coach, Jose Peseiro and Coach Nduka Ugbade in a group photograph with the Golden Eaglets shortly after Peseiro’s visit to the team ...on Monday here will be selected. You should not give up if you fail to make the final team," he added.

The Golden Eaglets have been drawn in Group B of the Africa U17 Cup of Nations in Algeria,

where the team will trade tackles with Zambia, Morocco and South Africa in the city of Constantine.

NUGA Games: Lekki Garden CEO, Nyong, Rewards UNIPORT Winning Team In what could be described as a reward for excellent performance in sport, the University of Port Harcourt, Port Harcourt, Rivers State, recently held a ceremony in honour of the triumphant team that won the Nigeria University Games Association (NUGA) held at the University of Lagos. Speaking at the event held at the university campus, the Vice-Chancellor, University of Port Harcourt, Rivers State, Prof. Owunari Georgewill, announced the cash reward donated by the Chief Executive Officer, Lekki Gardens Limited, Dr. Richard Nyong (OON)

for members of the contingent to the games. Georgewill, who applauded the Lekki Gardens CEO for the kind gesture, stated that the token of appreciation extended to the entire team would serve as an encouragement to continue on that winning streak. He equally expressed his immense gratitude to the team for the superlative performance at the competition, describing it as a great honour for the institution as a whole. “On behalf of the Senate, management, non-academic and

academic staff, and students of this great institution, I want to sincerely thank the entire team for your exceptional performance at the NUGA Games. I must say you have done creditably well for keeping the institution’s flag flying with such outstanding performances that are reflected in the number of medal hauls at this year’s games. We trust the entire team to continue on that winning streak”, he said. In his remarks, the Chief Executive Officer of Lekki Gardens Limited, Dr. Richard Nyong congratulated the team for their performance at the competition and

explained that the cash prize is in appreciation of the team’s efforts and as motivation to surpass their past records. “It is often said that the reward for hard work is more hard work: this means that you cannot rest on your oars both as individuals and as a formidable team. You must strive to continue to excel and maintain your position as the “best of the best”. Needless to say, the other contestants are planning on overtaking you at the next NUGA Games; you must not allow them, and by God’s grace, they will not succeed,” Nyong said.

Wednesday, February 8, 2023

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MISSILE FG to Opposition “These curious actions by the parties concerned is clear evidence that the opposition has turned this whole issue into a political game, preferring to make Nigerians suﬀer more on the altar of an unconscionable political gamesmanship. Or how else can one explain the fact that these unscrupulous opposition parties do not want any action that could reduce the pains being experienced by Nigerians” – Information Minister Lai Mohammed blaming some opposition parties for politicising the currency re-design policy.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

It’s All Politics

t is common to hear public intellectuals lament that re-reading essays written years ago would seem as if they are commenting on contemporary events. Perhaps, all you need to do to a column done a decade ago is changing the date and making a few updates and the piece would be like a current commentary. The import of this is that the socio-economic and political problems that were the bases of commentaries in the past have essentially persisted to the present time. Seasons may change; but the issues hardly change. In a way, this is a point made by a fellow columnist, Simon Kolawole, in his well-produced and dramatically entitled book, Fellow Nigerians, It’s All Politics: Perspectives on the Nigerian Project. Now, as an aside, there is something ideologically problematic about referring to a country as a ”project.” Nigeria is not a project. It’s a neo-liberal categorisation to say that a country is a project, for implicit in the definition of a project is that you can even project into the time of its completion. Is it conceivable that any generation could ever complete the “project” of a nation? However, a reading of the essays would rather show Kolawole’s well informed perspectives on nation-building and development, and not a project. A century ago, almost a quarter of the world was under the British Empire. The empire stretched from Australia in the far east to the tropical nation of Jamaica in the west. Today, the United Kingdom is still grappling with challenges of nation-building and material issues of development as reflected in the energy crisis and cost- of -living strikes in the country. Recent news from Britain would normally be expected from a “third world” country. In effect, even Great Britain is not a project that’s completed. So much for the idea of a nation as a project! Today’s column borrows its caption from the title of Kolawole’s 336-page book. Most of the essays

Chairman of the Independent Electoral Commission (INEC), Professor Mahmood Yakubu embodied in the book have appeared on this page, although Kolawole expectedly did further editing on the essays in the book form. Kolawole usually addresses “Fellow Nigerians” as if he is making national broadcasts in his column! The themes explored in the pieces, written over a period of almost 20 years, are as far ranging as leadership, nation-building, political economy, development the psychology of politicians. In his highly insightful style and deliberately optimistic tone, the author provides historical contexts to issues.

As the electoral ferment engulfs the land, Kolawole’s book would make a refreshing reading as a reminder of what happened before in history and is still happening, albeit in different forms. Here is the kernel of Kolawole’s message to his fellow Nigerians : “The politics of purpose is often missing, giving way to prebendal politics and politics of pulling the wool over people’s eyes through a highly marketable sectional sentiments. Playing politics the right way- that is, for the greater good of the society- is critical to addressing the political, social and economic issues.” In fact, many of those who are active in the public sphere in this season, but lacking a good knowledge of the historical contexts of things happening, will particularly find the book useful. This is because the build-up to this year’s elections is a proof that no two elections are the same despite some commonalities one election may share with the previous one. At least, one thing that the 2023 elections share with the previous ones is that “it’s all politics.” The sharp divergencies which are manifested in the campaigns are not primarily about policies. Political publicists are more comfortable attacking personalities rather than debate policies. Incendiary statements are issued daily. But the statements are not about issues. Criticisms have degenerated into hatred. Pronouncements on the immediate future of Nigeria are made in absolute terms as if February 25 will be the end of history. Well, this reporter can also volunteer his own prediction too: there will be life after the elections despite the extreme positions of the publicists. Meanwhile, arguments are often mechanically presented in binary terms of hell and paradise. It does seem that for some publicists Nigeria will become a paradise if their candidate wins while the nation would turn into hell if the candidate they oppose is victorious. Yet, the realistic projection is that whoever

wins, by this time in 2027, when another election fever would be on, Nigeria will neither be a paradise nor a hell. There are, of course, a lot of possibilities between the two extremes being falsely presented by some propagandists as the only options. In a probably idealised way of putting things, the electorate would make informed choices hoping that if their preferred candidate wins the quality of lives of the people will be relatively better in four years from now. The February 25 election will be the 10th presidential election since 1979 when Nigeria adopted the American-style presidential system while dumping the British-like parliamentary system. Of the nine presidential elections the nation has had, six have taken place in this Fourth Republic. In the previous presidential elections phrases such as “make or mar,” “do or die” and “ the coming of Armageddon ” were used to describe what was expected in the course of preparations for the respective elections. Again, a lot of fears have permeated through the political landscape in this electoral season. Scaremongering has become the pastime of some mischief makers. These fears emanate from the intrigues of politicians. As Kolawole argues eloquently in the book, “if politicians devote just 10% of their intrigues to making Nigeria better, I bet Dubai would be like a ghetto.” To put things in class terms, if the common purpose of politicians is to wage an anti-poverty war, Nigeria would be like 40 Norways put in a geo-political space, given the low rate of poverty in the Scandinavian country. Gross inequality is also a socio-economic problem of Nigeria; it constitutes an obstacle on the road to poverty reduction. But politicians don’t talk about it in Nigeria for obvious class reasons. The challenge of the moment before the nation, therefore, is to forge a consensus on the point that it should not be all politics when talking of development and nation-building.

SAMAMADI Democracy and the Judiciary C GUEST COLUMNIST

hukwudifu Oputa, a reputed Justice of the Nigerian Supreme Court, once noted that the Supreme Court is final not because it is infallible, but infallible because it is final. Another reputed justice of the Supreme Court, this time of the United States, Learned Hand, pointed out that it would be irksome to be ruled by a ‘bevy of Platonic Guardian’, and have them determine public affairs rather than by my vote. These two statements come into view as we ponder the impact of two controversial decisions of the Supreme Court in the runup to the 2023 presidential election in a couple of weeks. These decisions, plus the Election Tribunal’s judgment on the Ondo State Governorship Election dispute, cast the 2033 election into the tempest of uncertainty. Will the courts choose the winners against the votes of the electorates, or will the courts affirm the decision of voters? These two statements set out the crisis of the involvement of the court in picking who gest to govern the rest of us through democratic elections. Judicial supremacy seems to have become an established convention of representative democracy especially of the constitutional democracy types. The justification for the involvement of courts in the struggle for political power is inherently linked to the idea of democracy

itself. That is, to protect the minority from the dangers of majoritatisn politics. Democracy is both an ideal and a set of institutional arrangement. As an idea, democracy represents the notion of self-determination. Each of us is unique in our autonomy. Democracy proclaims equality of status. Thus, everyone should be able to determine the rules and norms that will shape their activities, and not to herded into submission by majority. The idea of democracy as self-determination is feasible in a city state where everyone can participate in democratic deliberations that lead to law-making. With complexities of space and subject matter of public policymaking, the need for representation becomes overwhelming. Today, for all practical purposes, democracy now means representative democracy, which has further mutated into electoral democracy. Electoral democracy is now translated into institutional arrangements, or what the famous political scientist, Robert Dahl, calls ‘institutions and practices’. The three most important and defining features, practices and institutions of electoral democracy, according to Larry Diamond and other scholars, are extensive competitive, political participation, and civil and political liberties. Electoral democracy requires that there is competition for the right to govern. Many sceptics of electoral

Chief Justice Olukayode Ariwoola democracy argue that the competition of electoral democracy is elitist and therefore not equalitarian. But without extensive competition, electoral democracy is even worse than sham. This competition requires

widespread political participation of the citizens. The process of democratic elections must be characterized by civil and political rights. If these minimum requirements of electoral democracy are missing, a political order is no longer democratic, despite other institutional grounding of the exercise of political power. this may be the reason the University of Gothenburg’s Verities of Democracy Institute in its 2022 report describes Nigeria as an ‘electoral autocracy’. Their point is that Nigerian elections lack the desired level of competition, and its process are deficient of political and civil liberty necessary to confer the stamp of democracy on them. The fact that we hold periodic elections, the fact that in 2015 we had an incumbent government defeated in elections and power was peacefully transferred do not mean we have attained even the status of .hybrid democracy’ as the Freedom House Report classified us in 2021. The 2022 Electoral Acts tries to cure some of these deficiencies that turns Nigeria’s efforts at democracy into ‘electoral autocracy’ by democratizing the process of election through enhancing political participation, engendering extensive competition and entrenching respect for civil and political rights of the citizens. The Continued on page 38

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