WEDNESDAY 15TH FEBRUARY 2023 by THISDAY Newspapers Ltd

2023 Election: THISDAY Editorial Board Intervention

In the world in which we live today, too many people find it difficult to take a public stand on critical issues, according to Michael Gartner, a 1997 Pulitzer Prize winner for editorial writing and author of ‘Outrage, Passion and Uncommon Sense’. Yet,

there are times when we must, as individuals, take positions in promotion (or defence) of the public good. “You’ve got to believe in something. There are a lot of things I believe in and strongly. And you’ve got to care about what you’re writing or,” Gartner

reportedly told an interviewer in laughter, “it reads like an editorial.” The positions taken by the editorial board of a newspaper on burning issues of the day are collective ones. However, at THISDAY, we have also established a tradition by which,

from time to time, individual members can share their own perspectives and interpretations of events, especially at critical moments. With the 2023 presidential election just ten days away, our members have decided to highlight some of the pressing

issues that the eventual winner would have to contend with. These issues, we believe, should also guide voters in their choice. It is our contribution to the dialogue for a better Nigeria. See stories on pages III - XV

Fitch: Nigeria to Face Post-election Economic Policy Challenges... Page 9 Wednesday 15 February, 2023 Vol 28. No 10171. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

TAJBank Becomes First Corporate to List Sukuk Bond on NGX... Page 8

Buhari Hails Pate on Appointment as Gavi CEO Incoming chief executive pledges to support countries scale up critical routine immunisation programmes Deji Elumoye and Onyebuchi Ezigbo in Abuja President Muhammadu Buhari yesterday congratulated the incom-

ing Chief Executive Officer of the Gavi Vaccine Alliance, Nigeria’s Dr. Muhammad Ali Pate over his appointment. The president said he was looking

forward to working closely with Pate to strengthen the nation’s health system and on other global health issues. Buhari, in a statement issued

yesterday, by his spokesperson, Mallam Garba Shehu, described Pate’s rise across racial and other barriers to become the first black/ African to lead Gavi as a very

important historical moment not only for him personally but Nigeria and Africa as a whole. According to Buhari: “Our hope is that Dr. Pate will bring his

knowledge, expertise and very rich experience in the administration of vaccines and immunisation in Continued on page 9

Presidency: FG, CBN to Take Position on Currency Swap after S'Court Determination Today Emefiele: politicians buying, storing new banknotes for elections Berates fuel stations over alleged extortion of customers Courts diplomatic community on naira redesign, cashless policy Maintains currency hoarders, abusers will go to jail Governors mopping up new notes, CSOs allege Continued on page 9

LISTING OF N10 BILLION MUDARABAH SUKUK ISSUANCE SPONSORED BY TAJBANK... L – R: Executive Director/ECO, TAJBank, Mr. Sherif Idi; Chief Digital Officer, Nigerian Exchange Limited (NGX), Dr. Olufemi Oyenuga; Divisional Head, Capital Markets, Mr. Jude Chiemeka; Chairman, TAJBank, Alhaji Tanko Isiaku Gwamna; Managing Director/CEO, Mr. Hamid Joda, and Managing Director, Greenwich Merchant Bank, Mr. Bayo Rotimi, during a closing gong ceremony in commemoration of the listing of the N10 billion Mudarabah Sukuk issuance sponsored by TAJBank Limited at NGX ...yesterday

WEDNESDAY FEBRUARY 15, 2023 •T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 •T H I S D AY

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

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

NEWS

FEELING THE PULSE OF THE DIPLOMATIC COMMUNITY... Governor, Central Bank of Nigeria, Mr Godwin Emeﬁele (left) and Minister of State, Foreign Aﬀairs, Ambassador Zubairu Dada, during the parley with members of the Diplomatic Community in Abuja ... yesterday

Kyari: Energy Demand in Nigeria, Others to Increase by 35% in 20Years Seeks collaboration of continent's oil, gas producing nations in critical areas NCDMB identifies AfCFTA as key to achieving Africa's local content strategy Peter Uzoho The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari has projected that energy demand in Nigeria and other African countries would increase by between 30 to 35 per cent in the next 20 years. Kyari also called for strong collaboration amongst oil and gas producing countries in the continent in order to share knowledge and help each other in critical areas, including technology, exploration and production, research and development, technical expertise and human capacity development

to spread the wealth within the continent. The NNPC GCEO stated this in Lagos, yesterday, while delivering the host country's industry address at the ongoing seventh edition of Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) organised by the Petroleum Technology Association of Nigeria (PETAN). The theme of the conference was, “Harnessing a Sustainable African Energy Industry through Partnerships.” Kyari, who was represented at the event by the Executive Vice President, Upstream, NNPC, Mr. Adokiye Tombomieye, said the projected

increase in the continent's energy demand would in turn support the projected increase in Africa's population and industrialisation. He noted that the conference came at a time when the Nigerian oil and gas industry was experiencing significant transformation, following the passage of the Petroleum Industry Act (PIA 2021). He maintained that the need for partnership was more reinforced as more African countries continue to make hydrocarbon discoveries. “We should collaborate and share knowledge and help each other in critical areas, including technology, exploration and production, research and development, technical expertise

and human capacity development to spread the wealth within the continent. “This would in no small measure assist in achieving energy independence and also aid the transition to cleaner energy sources such as gas to sustain the region. “This presents an enormous opportunity for us to form partnerships across the continent and build a sustainable future,” Kyari said. The GCEO said the PIA had provided role clarity in governance, rule-based administration, attractive and flexible fiscal terms and direct benefits for the host communities. All these, he said, were targeted at creating enablers for investor

Buhari Appeals to UAE President to LiftVisa Ban on Nigerians Inaugurates presidential transition council Deji Elumoye and Olawale Ajimotokan in Abuja President Muhammadu Buhari has made a special appeal for the lifting of the blanket visa ban placed on Nigerians by the government of the United Arab Emirates (UAE). This was just as Buhari, yesterday inaugurated the Presidential Transition Council to facilitate and manage the 2023 transition programme to the next administration. The president made the appeal to lift the visa bank on Monday, during a telephone conversation with the President of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, who doubles as the Emir of Abu Dhabi. According to a statement yesterday, by presidential spokesperson, Mallam Garba Shehu, Buhari had called Sheikh Mohamed bin Zayed Al Nahyan to condole with him on the death of his mother-in-law, Sheikha Maryam Al Falasi, during which important issues of mutual concern between the two countries came up. The president requested his UAE counterpart to review the blanket visa ban imposed on Nigerians intending to travel to the UAE. He recalled that mutually beneficial excellent relations hav

subsisted between the two nations over many years, symbolized by robust economic interactions and regular consultations on matters of common interest, including engagements at the highest political levels. Buhari, noted that recent irritants in bilateral relations generated by consular issues relating to the behaviour of some Nigerians in the UAE were being ironed out, explaining that no country including Nigeria would condone criminalities and illegal behaviours. He therefore expressed the readiness of the Government of Nigeria to apply necessary sanctions through appropriate judicial process against anyone identified to have committed criminal acts in the UAE, urging that the issue be allowed to be handled by the relevant security/intelligence agencies of the two countries and to come up with lasting solutions to the problems associated with criminalities and illegalities. Buhari also requested a resumption of the suspended operations of Emirates Airline in the country. Emirates Airline had suspended its operations in Nigeria in 2022, in the wake of its inability to repatriate funds trapped in Nigeria. The president assured the UAE leader that the issue of the Emirates funds was receiving appropriate atten-

tion alongside those of other foreign airlines operating in Nigeria, adding that the Central Bank of Nigeria had been directed to increase foreign exchange allocation to the airline. Meanwhile, at the inauguration of the Presidential Transition Council to facilitate and manage the 2023 transition programme to the next administration, the president was represented by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha. The president said his records of achievements must be preserved. Mustapha, who is the Chairperson of the Council, said the inauguration demonstrated the commitment of the administration to strengthen key governance institutions that support the democratic process. “Although the Constitution of the Federal Republic of Nigeria sets out the overarching framework for assumption of office of the President, this is the first time in our history as a country that the federal government of Nigeria will be establishing a detailed process for managing presidential transitions of government at the federal level. “It is with great delight and honour therefore, that I am carrying out the onerous task of inaugurating the Presidential Transition Council, on behalf of the President of the Federal

Republic of Nigeria,” Mustapha said. According to him, the council was charged with the responsibility of facilitating and managing the 2023 Presidential Transition Programme in line with the Executive Order No. 14 of 2023. Continues online

confidence in the Nigerian oil and gas sector, where ample opportunities exist. Kyari stated, “Ironically, our restructuring is happening at a time when the Energy transition discussion is gaining momentum, and major fund providers for petroleum upstream investment are now activists and anti-fossil fuel. “As I have always canvassed, decreasing investments in hydrocarbon ventures cannot guarantee global energy security in the near future. “Rather, an inclusive policy that guarantees access to finance and low-carbon technologies are key to sustaining global energy security and equitable growth." He added that Nigeria needed to capitalise on the advancements made in the industry to meet its energy demand, being geographically situated in the sub-African region and as a leader in the oil and gas industry in sub-Saharan Africa. Kyari said the country also needed to guarantee energy supply, expand its economies and overall, build a sustainable future for millions of people beyond its shores. The GCEO explained, “At NNPC Limited, we understand the importance of partnerships in achieving a sustainable energy industry in Africa. “This is why we have been work-

ing closely with countries, companies and other stakeholders to develop innovative solutions that meet the energy needs of the continent. “We must acknowledge that this new era of automation and artificial intelligence is focused on the application of cutting-edge technologies. “Such as the use of robotic drilling systems for unmanned operations, the deployment of cognitive computing in upstream operations, super specialised sensors for real-time monitoring and maximisation of reservoir yields." In his welcome remarks, Chairman of PETAN, Mr. Nicolas Odinuwe, said energy was core to the economies of 55-member states that constitute Africa. As part of the ways to harness and sustain the continent’s energy market, he pointed out that PETAN has continued to reach out to other regions and bodies for partnerships, collaboration and support. “This includes an African local content business e-platform, a one-stop collation of available opportunities, capacities and capabilities within the Sub-Sahara. It is currently being developed by the local content associations and will be launched by third quarter 2023. Continues online

Court to Hear Final Forfeiture of Patience Jonathan’s $5.8m, N2.4bn On March 28 Wale Igbintade Justice Tijjani Ringim of the Federal High Court, in Lagos, yesterday fixed March 28, 2023, for the commencement of hearing on the final forfeiture application of the sum of $5.8 million and N2, 421, 953, 522. 78 billion, allegedly belonging to former first lady, Dame Patience Jonathan. The judge fixed the date, after ruling on the arguments canvassed by counsel to parties in the suit. On April 26, 2017, Justice Mojisola Olatoregun, now retired, had granted an ex parte application for the interim forfeiture of the said sums filed by the Economic and Financial Crimes Commission (EFCC).

The judge also ordered that the said amount warehoused by the defunct Skye Bank (now Polaris) and Ecobank Nigeria Plc, be forfeited in the interim. However, the order was vigorously challenged up to Supreme Court, but the apex court ordered that the lower court should continue with the hearing of the matter. Upon Justice Olatoregun's retirement, the suit was transferred to Justice (Professor) Chuka Obiozor. But before Justice Obiozor could preside over the matter, he was transferred to another jurisdiction of the court, consequently, the matter was inherited by Justice Ringim. At the resumed hearing of the

matter yesterday, counsel to La Wari Furniture and Baths Limited, Chief Mike Ozekhome (SAN), told the court that his client had two pending applications before the court. The two applications were seeking to stay proceedings on the suit, based on its pending appeal, and for the matter to start de novo (afresh). Also, Mr. Sammie A. Somiari, lawyer to the former first lady, Patience Jonathan aligned himself with the submission of Ozekhome. But counsel to the EFCC, Rotimi Oyedepo (SAN) opposed the applications, arguing that the court's business of the day was to hear application seeking final forfeiture of the money.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

FROM AMERICA WITH LOVE...

L-R: United States Ambassador to Nigeria, Ms. Mary Beth, Special Assistant, Assistant Secretary of State for Africa, Ms. Holly Mackey and President Muhammadu Buhari, during an audience at the State House Abuja... on Monday PHOTO: SUNDAY AGHAEZE

All Eyes on Supreme Court as Suit against Banning Old Naira Notes Resumes Today Ogun joins case as Abiodun reads riot act to banks Gbajabiamila says relief underway Armed policemen take over Ondo CBN office to prevent attack by angry bank customers Wike faults policy Ganduje threatens to sanction erring banks, business owners Alex Enumah, Udora Orizu in Abuja, Fidelis David in Akure, James Sowole in Abeokuta, Blessing Ibunge in Port Harcourt and Ibrahim Shuaibu in Kano All eyes would be focused on the apex court as hearing in the suit challenging the powers of the federal government and the Central Bank of Nigeria (CBN) to stop the use of the old N200, N500 and N1,000 begins today at the Supreme Court in Abuja. This was just as Ogun State Government has filed an application at the Supreme Court seeking to join Kaduna, Kogi and Zamfara States in the suit. Ogun joining the suit confirmed THISDAY’s recent report that as part of efforts to deliberately stall the Supreme Court ruling, governors of some of the All Progressives Congress (APC) states have chosen to continue to file for joinder in the matter. The suit which was originally filed by the three northern states has since been joined by Ondo, Kano, Ekiti and now Ogun states. Rivers had also indicating its preparedness to do same. Sources at the Federal Ministry of Justice, had disclosed to THISDAY that the design of the state governors, who were joining the Supreme Court suit was to delay the judgement and have the old currency run till after the election. One of the sources, who pleaded to remain anonymous had said, “It is the design of the governors, who are adding many joinder suits, to delay the judgement and try to keep the state of affairs whereby the old currency would continue to be in use, while they lobby Supreme Court justices so that they cannot reach a judgement, and to push the Supreme Court decision on this matter until after the presidential election. “They want to use the cash for the presidential election. So, they are adding more joinder suits to delay the outcome of the judgement so that the two currencies can work together. So, what we see is that the vote-buyers are fighting back.” The Supreme Court being the final court in the country joined in the matter which had generated

intense controversy, when it last week halted the federal government from proceeding to stop the use of the old banknotes from February 10, 2023. Justice John Okoro, who gave the restraining order against the federal government, held that the order would subsist until today, when it would hear the case of the aggrieved states. The action of the apex court was sequel to an exparte application brought before it on February 3, by the Attorneys-General of Kaduna, Kogi and Zamfara States. Since its order on February 8, the apex court has come under heavy knocks by some critics of the administration for venturing into what they believed was the exclusive of the executive, although some others including senior lawyers saw nothing wrong in the action of the apex court since the order made was a temporary one. When the matter comes up today, it would be expected that the issue of jurisdiction which is very crucial in any case must first be resolved. More worrisome is the issue of enforceability of the said order, which has further thrown the nation into confusion as some commercial banks and businesses despite the order of the apex court and the pledge by the federal government to obey the order have continued to reject the old naira notes. Also, lawyers and litigants are being prevented from filing court processes at the Lagos High Court, as officials insisted they would only accept new naira notes. In the suit marked: SC/ CV/162/2023 and filed on February 3, plaintiffs are seeking among other things, a declaration that the demonetisation policy of the federation being currently carried out by the CBN under the directive of the president was not in compliance with the extant provisions of the constitution and CBN Act, 2007 and actual laws on the subject. Besides, plaintiffs wanted a declaration that the three-month notice given by the federal government through the CBN under the directive of the president, the expiration of which was expected to render the old banknotes inadmissible

as legal tender, was in gross violation of the provisions of Section 20(3) of the CBN Act 2007, which specifies that reasonable notice must be given before such a policy. Although, Mr. Mahmood Magaji, SAN, the lawyer representing the AGF who was the sole respondent in the suit, was present during the hearing and subsequent grant of the ex parte application he however filed the government's objection to the suit. The federal government in the Notice of Preliminary Objection dated February 8, claimed that the Supreme Court lacked the necessary jurisdiction to entertain the suit in the first place. According to their argument, the

plaintiffs ought to have commenced the suit before a Federal High Court and not at the Supreme Court. Besides, the respondent argued that “the plaintiffs have equally not shown reasonable cause of action" against it. Besides the objection, the AGF, Abubakar Malami also stated that the federal government would take steps to vacate the order when the court resumes, on the grounds that the law allows the government to challenge any order that it is not pleased with and that the government will do so in this instant case by the instrumentality of the law. Last weekend, governors of the 36 states of the federation rose from a meeting in Abuja with a resolution

to direct their Attorneys General to review the suit with a view to consolidating the legal reliefs pursued by the states.

Ogun Joins Suit as Abiodun Reads Riot Act to Banks

Ogun State Government has filed an application at the Supreme Court of Nigeria, seeking to join Kaduna, Kogi and Zamfara States, in the suit. The state, in a Motion of Notice filed by its counsel, Afe Babalola and Co, on February 13, sought to be joined as 4th plaintiff/applicant, in a suit number SC/CV/162/2023. The applicant in the Notice further stated that it sought to be a co-plaintiff for the just and effective determination in the suit instituted

by the other three plaintiffs. The plaintiff also notified the Supreme Court that it shall rely on all the processes already filed in this action in addition to the affidavit in support of the application. Listing 13 grounds upon which the application was predicated, the plaintiff submitted among others, that the implementation of the federal government-sanctioned policy had thus far negatively affected the citizens all over the federation which includes Ogun State, and left several residents of the state stranded, cash strapped and frustrated leading to riots, grievous interruption of commercial activities, Continued on page 12

OPEC Conﬁrms Nigeria’s Oil Output Grew by Just 23,000 bpd in Jan Oil prices fall after US crude reserve release Emmanuel Addeh in Abuja The Organisation of Petroleum Exporting Countries (OPEC) yesterday confirmed that Nigeria’s oil output grew by a meagre 23,000 barrels per day in January, a significant decrease from the December 2022 production increase of about 55,000 bpd. The international oil cartel which stated this in its February Monthly Oil Market Report (MOMR), noted that Nigeria’s drilled 1.235 bpd in the first month of the year, while it succeeded in raising production to 1.258 million bpd in January, according to self-reported data. But it stated that if secondary sources were considered, production in Nigeria increased by 65,000 bpd in the month under reference, with 1.33 million bpd output compared to 1.27 million bpd the previous month. OPEC gets its production figures mainly from two sources, either as reported directly by member countries or by information released by secondary energy intelligence platforms. In general, crude oil production from all 13 OPEC members slid by

49,000 bpd in January from December as top producer Saudi Arabia slashed output by 156,000 bpd from the last month of last year to average 28.88 million bpd. Saudi Arabia, the biggest producer and de facto leader of the cartel, pumped 10.319 million bpd in January, down by 156,000 bpd month on month, and more than 100,000 bpd below its quota of 10.478 million bpd. This was despite the OPEC+ agreement, set out at the October meeting and valid from November 2022 through December 2023, or until OPEC+ decides otherwise. A Bloomberg survey found earlier this month that OPEC’s crude oil production fell in January due to cuts by Saudi Arabia which may have been steeper than the Kingdom’s quota. Saudi Arabia, however, selfreported to OPEC that its crude oil production averaged 10.453 million bpd in January, up by 17,000 bpd from December. According to OPEC’s secondary sources, Nigeria and Angola boosted their production the most, by 65,000 bpd and 47,000 bpd, respectively. But these producers were among

the biggest laggards in their OPEC+ targets as they continued to pump well below their quotas. The 10 OPEC members that are part of the OPEC+ collective target production were estimated to have produced around 920,000 bpd below the January target, per a Reuters survey earlier. But going forward, OPEC and OPEC+ do not plan to change the course in oil production targets after Russia announced last week a 500,000 bpd cut in its output for March. On the Nigerian economy, OPEC stated that following a Gross Domestic Product (GDP) growth of 2.4 per cent y-o-y in 3Q22, 4Q22 data indicated that Nigeria’s economy faced a sharp rise in inflation, accompanied by higher interest rates and slowing private-sector momentum, leading to a slowdown in household consumption. “ The inflation rate remained almost unchanged at 21.3 per cent y-o-y, after it had accelerated to its highest level in 17 years in December, reaching 21.5 per cent y-o-y. This has been driven by localised food and fuel shortages. The rate showed a constantly rising trend for most of the year,” OPEC added.

Meanwhile, oil prices fell yesterday after the United States government said it would release more crude from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers, defying expectations from some traders that the release could be cancelled or delayed. Brent crude futures, Nigeria’s oil benchmark, fell by 70 cents, or 0.81 per cent, to $85.91 per barrel at some point, while US crude futures fell by 93 cents, or 1.16 per cent, to $79.21 per barrel. The US Department of Energy (DOE) said after the previous session ended that it would sell 26 million barrels of oil from the SPR, a release that would likely push the reserve to its lowest level since 1983, Reuters reported. The US had considered cancelling the fiscal year 2023 sale after President Joe Biden's administration last year sold a record 180 million barrels from the reserve. But that would have required Congress to act to change the mandate. Supply concerns also eased after the Energy Information Administration (EIA) said it expected record March production from the seven biggest US shale basins.

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

BUHARI RALLIES IMO FOR TINUBU... Lagos State Governor, Mr Babajide Sanwo-Olu; President Muhammadu Buhari; APC Presidential Candidate, Asiwaju Bola Tinubu and the Party’s National Chairman, Senator Abdulahi Adamu, during the APC presidential rally in Owerri, Imo State ... yesterday

TAJBank Becomes First Corporate to List Sukuk Bond on NGX

Kayode Tokede

TAJBank Limited, Nigeria’s fastgrowing non-interest banking services provider, yesterday, on the trading floor of the Nigerian Exchange Limited (NGX) became the first corporate to list Sukuk Bond on the bourse. The bank listed N10 billion Mudarabah Sukuk issuance after it successfully raised over N11.4 billion under its N100 Billion Sukuk Issuance Programme.

The first of its kind in Nigeria is an Additional Tier 1 Capital Mudarabah Sukuk with loss-absorbency features designed to help TAJ Bank strengthen its capital adequacy ratio and general corporate business activities. The Issuance received interest from both Retail and Institutional Investors, resulting in a subscription of 113.6. The oversubscription of the issuance demonstrated that the investment culture in the country was still vibrant and that there was

sustained confidence in Nigeria's path to economic recovery and stability. Speaking at the closing gong ceremony in commemoration of the listing of the Sukuk issuance on the floor of the Exchange, the Chairman, TAJBank, Alhaji Tanko Gwamna who was with top executives of the bank, reiterated that the listing was the first of its kind on the trading floor and it came with non-interest bearing. He noted that the listing of the

corporate Sukuk was what the capital market needs to enhance liquidity and further grow Nigeria’s economy. The TAJBank boss disclosed that the financial institution was considering investing in the manufacturing and agriculture sectors with raised funds from the Sukuk. “Manufacturing sector is the only sector that can take most of the youth out of the street and keep them engaged. Also, we are funding agriculture production and its value chain from start to finish. These two

Osinbajo Inaugurates 25-man Steering Committee for National Development Plan Deji Elumoye in Abuja The Vice President, Prof. Yemi Osinbajo has inaugurated the Steering Committee of the National Development Plan (2021 – 2025). Speaking yesterday at the inauguration of the 25-man committee at the State House, Abuja, the vice president said the Steering Committee was required to provide the necessary policy guidance and leadership for effective and successful implementation of the plan. He said the aim of the committee was to lay a solid foundation for a strong base that woul drive an effective implementation and produce a prosperous country. According to him, the overall aim of establishing the National Steering Committee (NSC) and the Development Plan Implementation Unit (DPIU) was to lay the foundation for a strong institutional base, structures and systems that would drive and ensure efficient and effective implementation of the targets in the National Development Plan 2021 – 2025, towards building a prosperous country. President Muhammadu Buhari had launched the National Development Plan on the 22nd of December, 2021. The vice president added: “It is a testament to the determination and commitment of the government to provide the desired political will and leadership for effective implementation of the new national development plan.”

He added that the Committee was a national assignment with institutional membership and outlives an administration. “Indeed, this particular National Steering Committee will in a few months hand over to a new administration. This calls for dedication and hard work to lay a solid foundation in the relatively short time left," he added. Osinbajo pointed out that, “going forward, the federal government is determined to make a paradigm shift by ensuring that agencies and institutions make necessary commitments and account for the level of implementation of programmes and projects within their respective sectors, especially those that were admitted into the National Development Plan, with a view to increasing and improving infrastructure stock in Nigeria. “We may also recall that a pillar of this government’s commitments is to reduce poverty by moving 100 million people out of poverty to the path of prosperity in 10 years, by the end of 2030. In this regard, NDP 2021 – 2025 was designed to lift 35 million people out of poverty and generate 21 million jobs by the end of 2025.” The vice president listed the specific objectives of the committee, of which he is Chairman, as follows to include: To ensure efficient management of the implementation process of the Plan; To reduce bureaucratic processes in the governance process; to gradually

professionalise planning functions for capacity sustainability; to begin the process of institutionalisation of the plan implementation within the Ministry and other MDAs; to facilitate manpower development and adequate utilisation in the public service to drive the implementation of the plan, and to exercise cooperation and coordination towards effective implementation of national development plans by all MDAs. Membership of the committee includes the vice president as Chairman;

Minister of State, Budget and National Planning is Vice Chairman; Permanent Secretary, Budget and National Planning to serve as Secretary; six State Governors (one Governor from each geopolitical zone); CEO of the Budget Office of the Federation; CEO of the National Bureau of Statistics; Minister of Works & Housing; Minister of Power ; Minister of Industry, Trade & Investment; Minister of Transport and Minister of Humanitarian Affairs, Disaster Management and Social Development.

sectors are where we wanted to fund the Sukuk issuance,” he said. “The listing on the Exchange is for investors to trade in the Sukuk and diversify their investment,” he added. According to him, “We are setting the trend and I’m sure a lot of corporates will come along. We are making more offerings because the market is in need of corporate Sukuk. “It was a transparent exercise and people can trade with our Sukuk and it will offer more liquidity for economic growth. He added that the financial institution very soon would be back in the capital market and raise more funds. Speaking also, the Managing Director/CEO, TAJBank, Mr. Hamid Joda said the aim of the Sukuk listing was to give Nigeria’s investors alternative means of investment. He noted that, “Millions of investors have been yearning for non-interest or Islamic instrument. We believe this is an opportunity for them to invest in such an instrument. “The funds raised will be deployed into high-impact sectors that create jobs in Nigeria’s economy and in that way, it will have high-impact opportunities for millions of Nigerians. “I believe with this move; we

have inspired many other corporates in the financial space to come on board and issue Sukuk for greater development of our dear country.” Speaking at the ceremony, the Divisional Head, Capital Markets, NGX, Mr. Jude Chiemeka commended the efforts of TajBank’s leadership and the parties to the issue: Greenwich Merchant Bank, Lead Issuing House; 117 Capital & Buraq Capital, Joint Sharia Advisers; and United Capital, Brokers, on the transaction. “NGX will continue to support issuers by providing a platform of choice for capital raising and linking them with a diverse pool of investors. “The Exchange is also committed to the development of Islamic financing in the Nigerian capital market and continues to implement initiatives to deepen its offerings,” he added. Commonly referred to as Islamic Bonds, Sukuk – a noninterest-bearing bond- has helped government diversify its sources of funding while offering ethical investors an opportunity to invest in government-issued securities. The instrument has not only helped the government achieve a higher level of financial inclusion but has served as a reference for pricing Sukuk issued by other bodies, especially the private sector.

NEC Okays Nigeria Agenda 2050 with 165m Jobs in the Ofﬁng Initiative captures nation's future expectations, says Osinbajo Deji Elumoye in Abuja The National Economic Council (NEC) rose from its emergency session and maiden meeting in 2023 yesterday and endorsed the “Nigeria Agenda 2050” designed to take the country through to Upper Middle-Income Country and subsequently to the status of High-Income nation. At a meeting presided over by the Vice President, Prof. Yemi Osinbajo, at the State House, Abuja, the Agenda 2050 was presented by the Ministry of Finance, Budget and National Planning to State Governors and other members of NEC, including Ministers.

Speaking after the presentation and discussion by Council members, Osinbajo, according to a statement issued by his media assistant, Laolu Akande, observed that the plan captures a lot of the expectations for Nigeria in the future and hopefully implementation which is key if effectively done. Also commenting on the Agenda, the Minister of State for Budget and National Planning, Prince Clem Agba, said the federal government took unprecedented steps in ensuring the operationalisation of the plan, especially with the inauguration of the Steering Committee of the National Development Plan by the VP.

Highlights of the Nigeria Agenda 2050 as presented to NEC included: “Nigeria Agenda 2050 is formulated against the backdrop of several subsisting development challenges in the country. These challenges include low, fragile, and non-inclusive economic growth; high population growth rate, pervasive insecurity, limited diversification, macroeconomic and social instability, low productivity and high import dependence. “Nigeria Agenda 2050 is a perspective plan designed to transform the country into an “Upper-Middle Income Country”, with a significant improvement in per capita income. “The plan aims to fully engage

all resources, reduce poverty, achieve social and economic stability. It also targets developing a mechanism for achieving a sustainable environment consistent with global concerns about climate change. “The plan therefore presents the road map for accelerated, sustained and broad-based growth and provides broad frameworks for reducing unemployment, poverty, inequality, and human deprivation.” According to the statement, Agenda 2050 was to help Nigeria attain her desire to successfully join the group of upper middle-income countries and subsequently to highincome group.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

NINE

Fitch: Nigeria to Face Post-election Economic Policy Challenges Emmanuel Addeh in Abuja Nigeria faces major economic challenges ahead of elections due on February 25, and policy choices by the incoming administration could have a significant impact on the country’s credit profile, Fitch Ratings said yesterday. It stated that the Nigerian Supreme Court’s suspension of a February 10 deadline for exchanging old banknotes into new eases, at least temporarily, the risk of intensifying cash shortages. However, the demonetisation drive, it said in a report, is still likely to be disruptive in the near term, with associated cash shortages likely to hit consumer spending and boost demand for foreign currency and aggravating foreign-exchange

shortages. “It is not yet clear whether there will be offsetting longer-term economic benefits, such as greater use of the formal banking system or enhanced use of digital payment systems. “The country faces numerous other challenges to its fiscal sustainability, external finances and economic outlook. We downgraded Nigeria’s rating to ‘B-’ from ‘B’ in November 2022, with a Stable Outlook, reflecting continued deterioration in debt servicing costs and external liquidity,” Fitch said. The ratings agency stressed that base case assumes that the subsidy on petrol, a key drag on the public finances, will be reduced in 2023, but phased out more gradually than in the government’s latest budget.

“We consider the next administration is likely to face pressure to continue it and concessions on this front could make consolidating the public finances more difficult,” the firm said. Fitch explained that it expects some improvement in crude oil production to help offset lower oil prices in 2023. Output in 4Q22, it stated, was 15 per cent higher than in 3Q22, and rose further in January to 1.26 million bpd but was still well below Nigeria’s budgeted 1.69 million bpd for 2023 and its Organisation of Petroleum Exporting Countries (OPEC) quota of 1.8 million bpd. “This partly reflects security issues that we believe will continue to hamper production,” Fitch pointed out.

According to the organisation, Nigeria’s fiscal profile will remain weak in the medium term while general government interest/ revenue will be extremely high (47 per cent in 2022 by Fitch's estimate). “We expect it will remain so given constraints on revenue mobilisation, increasing debt and high interest rates. Structurally low non-oil revenue, spending pressures and weak economic growth imply substantial fiscal financing needs. “The government faces external debt amortisations of $2.5 billion in both 2023 and 2024, an increase on recent years, although the majority is bilateral and multilateral debt service,” Fitch noted. It recalled stating in November that increased financing constraints

or signs of difficulty in meeting debt servicing costs could lead to negative rating action. “The government last year confirmed that Nigeria did not intend to seek a debt restructuring. Fitch does not consider a restructuring or forced debt exchange likely in the near term, but there is a risk the next administration could take a different stance. “In November, Fitch said that significant intensification of Nigeria’s external liquidity pressures, illustrated by a rapid decline in international reserves, could lead to negative rating action. “Our base case assumes that international reserves will edge down further and that foreignexchange liquidity will remain

constrained. We assume that the official exchange rate will be permitted to depreciate modestly over 2023-2024, but that it will remain overvalued, hampering economic activity,” it noted. The prospects for exchange rate reform, Fitch added, will be influenced by the outcome of the presidential election, and could increase under a new central bank governor. “The incumbent’s term ends in 2024, but an incoming administration could push for earlier change. “A more flexible exchange rate regime would likely be a long-term positive for Nigeria’s credit profile, although the initial economic adjustment could present macro-fiscal risks,” the ratings agency stressed.

PRESIDENCY: FG, CBN TO TAKE POSITION ON CURRENCY SWAP AFTER S'COURT DETERMINATION TODAY Deji Elumoye, James Emejo and Sunday Aborisade in Abuja The presidency yesterday disclosed that neither the federal government nor the Central Bank of Nigeria (CBN) had taken a pre-emptive position on the legality of the old N200, N500 and N1,000 notes in view of the case pending before the Supreme Court, which comes up for hearing today. In a statement by its spokesperson, Mallam Garba Shehu, the presidency said the federal government's position on the currency swap would be made public after the determination of the suit. The statement said, "Following series of enquiries, we wish to state that it is not true that the federal government or the CBN has taken a pre-emptive action on the legality of currency as a legal tender in view of the pendency of the case before the Supreme Court. "The position of the government and the CBN will be made known upon the determination of the suit coming up Wednesday." The Supreme Court had in a ruling on February 8 suspended the CBN’s February 10 deadline to stop the use of old currency notes. The bank had ordered citizens to swap out old N1, 000, N500, and N200 banknotes for a redesigned currency by the deadline. But the apex court, ruling in an ex parte application by three states – Zamfara, Kogi and Kaduna – stopped the CBN from banning the old notes pending the hearing and determination of the case. It fixed February 15 for hearing.

Governor of CBN, Mr. Godwin Emefiele, yesterday, said the apex bank had noticed that some politicians were buying the new N200, N500 and N1, 000 for political purposes. That was as a coalition of 472 civil society organisations (CSOs) alleged yesterday at a press conference in Abuja that 10 state governors were mopping up the new naira notes in circulation in order to discredit the policy. Addressing the diplomatic community in Abuja, the CBN governor craved the support and understanding of the foreign missions and Nigerians, in general, towards the implementation of the cashless policy and in achieving the overall objectives of the naira redesign programme. “The CBN has also noticed that some politicians are buying the new notes and storing them for political purposes,” he said. Emefiele said the principal aim of the currency redesign initiative was to make monetary policy decisions more effective, adding that inflation has been trending downwards while the exchange rate has recorded some stability since the implementation of the policy. He said the apex bank remained committed to ensuring a seamless, inclusive, and equitable implementation of the exercise for the overall benefit and growth of Nigerians, the financial system, and the economy as a whole. He also said the programme sought to increase financial inclusion in the country by reducing the

number of the unbanked population. Emefiele noted that there had been five reversals in the bank’s attempt to go cashless and promote financial inclusion since 2014, when he was first appointed CBN governor. He explained that the reversals were born out of the need to deepen the country’s payment infrastructure, adding that the payment system in Nigeria is now among the best six in the world. He said, “So, we believe that we have put in place enough infrastructure that would help us attain or achieve a cashless policy that will be in line with global practices.” The CBN governor told his audience, “You are all foreign dignitaries representing your countries in Nigeria and you know and you would agree that the level at which people carry cash in Nigeria is unacceptable. “In your countries, you do not carry cash anyhow. If you carry cash and you are seen, you are questioned and profiled continuously.” He added, “We want to look at your country and that is why we are saying that Nigeria, being the largest economy in Africa and with the largest population in Africa, really must go cashless. And we are delighted at the CBN that with the support of President Muhammadu Buhari, we would achieve this. “We know that at these initial stages, Nigerians will go through what we call temporary pains and we call it transient because they would come with those kinds of shocks; indeed, I must describe this shock as unprecedented. “And that is why I would

continue to appeal to everybody – Nigerians and those of you that constitute our diplomatic community – to give us all the needed support for us to achieve this objective. We want our country to look like your country and we will continue to seek your support for us to be like you.” The central bank governor further stressed that the cashless and currency redesign progamme sought to support efforts of the security agencies in combating banditry and ransom-taking in Nigeria. He pointed out that through the redesign, “The military are making good progress in this important task.” Specifically, Emefiele said the naira redesign policy was expected to curb inflation in the market, as less cash holding reduces currency outside banks and retards money circulation. He said the accompanying decline in money supply would slow the pace of inflation, adding, “We have started to see inflation trending downwards following general price stability in almost all genre of market, including for goods and financial products.” Emefiele also said the effective implementation of the policy could scrap four percentage points off the current level of inflation, which stood at 21.34 per cent, as it steadily slowed inflation rate to about 18 per cent by mid-2023. He said, “This is quite achievable, as data from our market sources indicate that the prices of grains and key staples, around Suleja and Lambata markets, for instance, have generally been on the downward

BUHARI HAILS PATE ON APPOINTMENT AS GAVI CEO Nigeria and many parts of Africa to increase access to vaccines to further reduce the disturbing levels of child mortality on the continent and all over the world as his job requires. Congratulations, Nigeria is proud of your achievements.” According to a report by Gavi New Media yesterday, Pate would be officially starting as CEO on August 3, 2023. It described Pate as a proven global health leader with experience at the national and international levels. Pate would lead Gavi as it continues its work to support routine immunisation, outbreak response and COVID-19 vaccinations around the world. Pate, who was selected following a year-long recruitment process personally overseen by the Chair of the Gavi Board, Prof. José Manuel Barroso, would bring a wealth of experience to the role. A medical doctor trained in both internal medicine and infectious diseases, with an MBA from Duke University in the United States, Pate served as Nigeria’s Minister of State for Health between 2011 and 2013. In this role, he led a flagship initiative to revive routine vaccinations and primary health care, chaired a presidential taskforce to eradicate polio and introduced new vaccines into the country. While serving as Global Director

for Health, Nutrition and Population of the World Bank and Director of the Global Financing Facility at the World Bank between 2019 and 2021, he led the Bank’s $18 billion COVID-19 global health response and represented the Bank on various boards, including those of Gavi, the Global Fund, CEPI and UNAIDS. He is currently the Julio Frenk Professor of Public Health Leadership at Harvard Chan School of Public Health and has served on several health-focused boards and expert panels in the public, private and not-for-profit sectors during his career. Commenting on the appointment, Barroso said: “Dr. Muhammad Ali Pate stood out in a field of worldclass candidates. With his knowledge and experience of both national immunisation programming and international emergency response and global finance, I am confident that Gavi will continue to build on its vision and mission, as well as navigate the many challenges and opportunities we will face.” While accepting the offer, Pate, whose appointment was confirmed yesterday, at an extraordinary meeting of the Gavi Board said: “I’m deeply honoured to be joining Gavi as its incoming CEO. Gavi is one of the most impactful organisations in global health, a testament to the great work of the Alliance partners

and Secretariat staff. "It will be my privilege to lead it, building on the work of Dr. Seth Berkley, and continue to support countries to scale up critical routine immunisation programmes, reach more zero-dose children, expand access to new vaccines, transform primary health care systems, and help fight outbreaks and future pandemics.” Sitting CEO, Berkley had led Gavi for more than half of its existence, making it a centrepiece within the global health landscape, including recently co-establishing COVAX to serve countries during the unprecedented COVID-19 pandemic, having so far shipped nearly 1.9 billion COVID-19 vaccine doses to 146 countries. Since Berkley took the helm in 2011, the Alliance has averted 11.8 million future deaths (compared to 4.5 million between 2000 and 2010); and has helped immunise more than 676 million children – more than double the 305 million children reached between 2000 and 2010. Gavi also hailed Berkley’s vision for health equity, which added a number of new vaccines to its portfolio during his tenure, including for HPV, polio, cholera and malaria, and in its current strategy cycle is focusing on reaching zero-dose children across marginalised communities.

The Alliance also played an increasingly influential role in emergency response, developing vaccine stockpiles for diseases such as cholera and introducing innovative financing mechanisms to fund emergency purchase of Ebola and COVID-19 vaccines. The economic result of Gavi’s expansion of activities during his tenure has been profound, unlocking over US$ 160 billion of economic benefits compared to $24 billion in its first 10 years. Commenting on Pate’s appointment, Berkley said: “Leading Gavi and helping the Alliance to continually surpass itself in terms of saving lives, protecting children and supporting countries during global health emergencies has been the greatest honour of my career. “I am proud and humbled to have been part of what the Alliance has achieved, and I am confident in its future under Muhammad’s leadership: having worked with him during his time as Minister and at the World Bank, I know he understands intimately the landscape we work in and will be uncompromising in his drive for public health equity.” The report stated that Berkley would continue to serve as CEO until 2 August 2023, while working with incoming CEO to ensure a smooth transition.

trend since the beginning of the policy. “The price for soya beans has dropped from N30,000 to N22,000. Maize from N18,000 to N16,000. The price of a bull fell from N400,000 to N330,000 and ram from N75,000 to N50,000.” He also said the policy had brought some stability to the exchange rate regime, and explained that prior to the announcement of the policy, the huge cash haul outside the banking system had exerted significant pressures on the exchange rate at all windows, but more so at the parallel market as it engendered asset substitution by speculators, and rent-seekers. Emefiele said, “While the policy was initially estimated to lead to more speculations due to panic moves, as most people try to understand the policy action, it is expected to reduce speculation in the medium- to long-run. “Today, the limited circulation of the new naira notes has forced the hands of speculators and we are beginning to witness some stability. The initial pressure is projected to further moderate as the implementation of the policy takes-off and a wider understanding pervades the system.” Emefiele said the central bank was mindful of the challenges citizens faced and was currently addressing them. He noted, “There have been reports of occasional failures in echannel platforms. Our monitoring suggests that whilst there has been an expected surge in electronic transactions, these have not risen to unprecedented levels and the payment system is well equipped to handle even higher transaction volumes. “Whilst transaction failures are bound to occasionally occur, the public is encouraged to have full confidence in Nigeria’s globally recognised payment system infrastructure. “Banks have also been instructed to ensure 24/7 service availability and promptly address any customer refunds arising from such service failures.” The CBN governor further acknowledged the widespread inconveniences due to the policy. He said, “We have observed pervasive incidences of hoarding and predatory activities of some vendors and unscrupulous Nigerians. The principal causes of the hardship to the citizens following the redesign policy include hoarding. “We have noticed that some members of the public are hoarding the new notes, thereby restricting their flow through the economy. “Cash kept at home will not circulate but may fuel a perception of scarcity, which leads to higher demand for the currency, signalling to those who don’t have an urgent or immediate need to store cash.” Emefiele pointed out that there had been tremendous tension and elevated agitation by leaders who should be calming frayed nerves among the citizens. However, he said, “We believe

that a large proportion of these agitations are staged and sponsored propagandas or an exaggeration of the reality. No doubt that there are pockets of pressures in some areas, the CBN is working hard to shift resources to those areas in order to ease the tension. “The situation is substantially calming down since the commencement of the Over-the-Counter payments to compliment ATM disbursements and the use of super agents.” On the panic queues at bank ATMs and banking halls, he said “Whilst some of these withdrawal requests are genuine, some are simply the reprehensible activities of miscreants who do not have the genuine intention of making a withdrawal but are seeking quick-earnings by queuing up just to sell their spaces to make money.” Emefiele alleged, “We have also noticed that some Nigerians are capitalising on the transition to charge exorbitant fees or demand cash payment on the false pretext that PoS don’t work, especially at petrol stations. These selfish actions for personal monetary gain are creating hardship for Nigerians and may come at the expense of fellow citizens’ lives and livelihood.” Emefiele reiterated the availability of an appropriate amount of the redesigned N200, N500, and N1,000 denominations and current N100, N50, N20, N10 and N5 denominations to support economic activities. He said the bank was collaborating with the entire financial ecosystem, including DMBs, OFIs, MMOs, Super Agents, MFBs Payment System Providers, and EFCC, ICPC and other law enforcement to ensure that Nigerians had a variety of options for financial transactions either through electronic channels or in exceptional circumstances, cash. He stated, "We tried as much as possible to make this available in a way that it goes out to all Nigerians. But we found the unscrupulous activities by some people – and I will not be too direct – but, of course, when people who don’t own bank accountants begin to go and stay in queues; they wake up 4 a.m. to go and stay in the queue for the ATM and then, when it gets to their turn, they sell their turn and go back and start queuing again. "And in a day, they could do that four times and then earn between N8,000 to N10,000…POS agents who are to help us deepen financial inclusion are getting involved in this kind of unscrupulous activities." The CBN governor stressed, "We have told EFCC, ICPC working with our CBN monitoring team to arrest any POS agent that charges any fee because we have made it clear that whatever is their fee which is not meant to be more than N200 for any amount you exchange, that we CBN we will pay as part of the cost to lessen the burden of this problem. "And let me make it clear, we started to arrest them and we will prosecute them; they’ll go to jail for getting involved in illegal activities and making our work difficult. Continued on page 44

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

ONASANYA BAGS HONORARY DOCTORATE DEGREE... L-R: Ex-footballer, Chief Segun Odegbami; Chairman, Body of Benchers, Chief Wole Olanipekun, and Chairman/CEO, The Address Homes, Dr. Olabisi Onasanya, at the 7th Convocation ceremony of the Federal University, Oye-Ekiti (FUOYE) held at Oye-Ekiti…recently

Military Moves to Secure Nation's Territory Ahead of Elections Army chief directs GOCs to ensure conducive, secure atmosphere Navy mounts surveillance in waterways Kingsley Nwezeh in Abuja Military service chiefs, yesterday, began moves to maintain the territorial integrity of the country ahead of the February 25 and March 11 general election. In furtherance of this objective, Chief Army Staff, Lt Gen Faruk Yahaya, directed all General Officers Commanding (GOCs) and other formation commanders of the Nigerian Army (NA) to ensure conducive and secure atmosphere in their Areas of Responsibility (AOR) for the successful conduct of the coming 2023 elections. Handing down similar orders, Chief of the Naval Staff, Vice Admiral Awwal Gambo, charged navy commanders to embark on sustained surveillance of Nigerian waterways to forestall breakdown of law in the maritime environment before, during, and after elections. The army chief issued the directive while formally flagging off Operation Safe Conduct in all Nigerian Army Divisions and formations across the country. Yahaya reiterated the resolve of the Nigerian Army to strictly adhere to its constitutional role by supporting the Nigeria Police, which is the lead security agency in the 2023 elections security architecture. He charged the commanders to identify and dominate flashpoints in their AORs, adding that troops must be alert, proactive and operate jointly with sister services and other security agencies during the elections. The COAS directed the commanders to deploy requisite logistics to ensure security and safety of citizens during the elections. He urged them to be professional, apolitical and adhere strictly to extant code of conduct and Rules of Engagement guiding personnel throughout their operations. Warning that any infraction on the provisions of the code of conduct would not be treated lightly, he maintained that all deployments must be joint and in support of the Nigeria Police. He observed that all eyes were on the security agencies, and that the

citizens expected nothing short of free and fair elections. "You must, therefore, refrain from hobnobbing with political gladiators and maintain your apolitical stance," Yahaya stated. The COAS had recently, in an effort to ensure that the laws of the land and personal liberties and rights of citizens were not compromised, approved the Code of Conduct and Rules of Engagement for Nigerian Army personnel during Operation Safe Conduct 2023. The Nigerian Navy also began surveillance and intelligence-driven operations across the country’s maritime environment and waterways. Gambo, who charged navy commanders to embark on sustained surveillance, explained that the operations were to forestall the breakdown of law in the maritime environment before, during, and after elections. He said facilities of the Independent National Electoral Commission (INEC) as well as citizens in the maritime environment must be secured against attacks. He added that an intelligence brief

was given to the commanders to enable them effectively tackle the challenges ahead. Yahaya stated, “The election scheduled to hold in 11 days’ time, is staring at us. Therefore, adequate preparations are key

to the overall outcome of the election. We are all aware of the dynamics of the security of our political environment and, therefore, continual reappraisal and adjustment where necessary, particularly on strategies and tactics,

notwithstanding, the intelligence brief received today." In his own remarks, the naval boss said, “The brief should help us to speed up our efforts to the emerging challenges and spur us into action for a successful 2023

FG at Advanced Stage of Repossessing Hundreds of Artefacts from UK, US Olawale Ajimotokan in Abuja

The federal government yesterday said it was at advantaged stage to secure the repatriation of hundreds of looted antiquities to Nigeria from the United Kingdom and United States. Minister of Information and Culture, Alhaji Lai Mohammed disclosed this in Abuja, at the final session of the PMB Administration Scorecard Series 2015- 2023. He said Nigeria is currently in the forefront of global efforts on the repatriation of antiquities to

their countries of origin. He said some of the artefacts to be restituted are with Pitt Rivers Museum of the University of Oxford, the Ashmolean Museum of the University of Oxford, the Museum of Archaeology and Anthropology of the University of Cambridge, Glasgow City Council in Scotland, National Museums of Scotland, Hulls Museums and other institutions in the United Kingdom. He noted that hordes of antiquities are also held in several institutions in the United States,

including Dartmouth University, Field Museum of Chicago and Natural History Museum in Washington, DC. Mohammed said the move to restitute the remaining antiquities held in the UK and US followed the success by the country in the recovery of hundreds of looted artefacts, including the 1,130 Benin Bronzes that Germany had begun to return in December last year. He said the federal government had also started the process of increasing the number of national monuments in the country currently

Protests against EFCC Chair Sponsored, Says Commission Kingsley Nwezeh in Abuja The Economic and Financial Crimes Commission (EFCC), yesterday, raised the alarm that there was a sponsored campaign against its chairman, Abdulrasheed Bawa, by some people under investigation by the agency. It said the unnamed individuals were behind the protests by Civil Society Organisations (CSOs) calling for the sack of the chairman. The alarm came as protests for the removal and arrest of the EFCC boss from office entered day three on Monday. At a media briefing in Abuja, spokesman of the anti-graft agency, Wilson Uwujaren, said the groups were sponsored by those under investigation by

elections. “You are to ensure that personnel embark on intelligence-led operations before, during, and after elections so that law-abiding Nigerians would have the confidence to vote."

EFCC. “The EFCC wishes to raise the alarm about the activities of an amorphous group of so-called civil society organisations, who have recently embarked on a campaign to discredit the person of the Chairman of the EFCC, Abdulrasheed Bawa and incite the public against the commission. “The group, through press conferences and staged street protests, have been calling for the sack of the EFCC Chairman for alleged disobedience of court orders. They claim they are motivated by the need to strengthen the fight against corruption,” he said. Uwujaren further noted that contrary to the claims, the EFCC said the group in question had no interest in the fight against

corruption, adding that their allusion to disobedience of court orders by the EFCC chairman was an alibi to manipulate facts around judicial pronouncements and processes to pitch the public against the commission. His words: “Information available to the commission indicates that the group is sponsored by persons under investigation by the commission and have been mobilised and mandated by their paymaster to embarrass the person of the chairman through choreographed street protests across the country, until he is removed from office. “It is significant that this group found its voice after the EFCC launched an investigation into the mindless looting of the treasury of one of the states. This same group

shouted that the commission lacked the power to investigate the theft of the state’s resources. “Their latest dance in the market square came a few hours after family members of a sitting state governor were arraigned at an Abuja court for allegedly stealing the state’s funds," he said. The anti-graft agency therefore appealed to the "public to disregard the campaign by the groups as they do not represent the genuine interest of millions of Nigerians, who are desirous of seeing progress in the fight against corruption. “The spectre of rented crowd, rented CSOs, etcetera are blights in our social fabric and manifest demonstration of how deep-seated corruption has permeated every sector of our society."

at 65, by declaring 111 historical sites as national monuments. He said the declaration was awaiting presidential assent. Also the exhibition galleries in Abubakar Tafawa Balewa Mausoleum, Bauchi, the National Museum of Colonial History, the National Museums in Lagos, Ibadan, Esie, Yola, Abeokuta, Maiduguri, Oyo, Minna, Damaturu, Asaba, Koko, Jalingo and also in the Old Residency Museum, Calabar restoration have been upgraded while conservation work has been done in the National Museums in Kaduna, Enugu and Ife. The minister said the ministry had achieved its objective of launching the PMB Administration Scorecards Series (2015-2023), which was to massively showcase the achievements of the Buhari Administration. He said his ministry would soon launch a series of multi-dimensional activities to further showcase the achievements of the administration. He expressed delight that the massive achievements showcased during the scorecard series had put a lie to the mischief of the political opposition that the Buhari Administration had achieved nothing. “The refrain from the opposition, prior to the launch of this Scorecard Series, was that the APC and the Buhari Administration have nothing to campaign with in the run-up to the 2023 general elections. But we have proven them wrong. Not only do we have achievements to campaign with, we are spoilt for choice,” Mohammed said.

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

Advertorial

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

SYMBOLIC CHEQUE PRESENTATION CEREMONY OF FGN SUKUK SERIES V... L-R: Head, Investment Banking, Vetiva Capital, Olutade Olaegbe; Head, Debt Capital Markets, Stanbic IBTC Capital, Adetokunbo Aturamu; Chairman, Buraq Capital Limited, Alhaji Mohammed Bintube; Director General, Debt Management Oﬃce (DMO), Ms. Patience Oniha; Managing Director, Greenwich Merchant Bank, Bayo Rotimi; Head, Investment Banking, Greenwich Merchant Bank, Kenneth Ero; Vetiva Capital, Temitayo Ajayi; and Head, Advisory, Buraq Capital Limited, Sadiq Kurﬁ, at the recently concluded Symbolic Cheque Presentation ceremony of the N130bn FGN Sukuk Series V issuance in Abuja…. yesterday

NEF to Buhari: Don't Allow IPOB Intimidate, Prevent Nigerians from Voting Adedayo Akinwale in Abuja The Northern Elders Forum (NEF) has called on President Muhammadu Buhari to assert his legitimate authority on any lawless group in any part of the country, especially the outlawed Indigenous People of Biafra (IPoB) and ensure that voters were not prevented or threatened during the general election. Director of Publicity and Advocacy of the forum, Dr. Hakeem Baba-Ahmed, in a statement yesterday, decried a serious rise in groups that threaten the conduct of

the elections, particularly from violent groups in the south eastern states. The group lamented the deafening silence from leaders, elders and politicians from the region and other parts of Nigeria over the dangerous threats was also deeply disturbing. The forum stressed that Nigerians want credible elections and a peaceful transition to the next administration, saying no group should be allowed to plunge the nation into deeper crises by tolerating threats to the elections and peace in the country. It said: "These threats are being

followed by actual attacks on government buildings and killings, including killing of policemen in the region. Without a robust challenge of these dangerous trends, those behind these lawless acts are likely to assume that they will succeed. "Any attempt to interfere in the rights of Nigerians to participate in the election of their leaders is a serious assault on the sovereignty of Nigeria and an act that must be resisted." The forum stressed that threat to the elections was a threat to the democratic system, and the very

foundations on which the nation, adding that If it succeeds, the threat would signal the start of other crises the country may not recover from. "The Forum calls on the administration of President Buhari to assert its legitimate authority on any lawless group in any part of the country and ensure that voters are not prevented or threatened," it added The forum noted that leaders must openly condemn the outrageous threats and assure citizens who want to vote that they could do so. It stated that politicians who want to lead must step out and

Court Extends Order Restraining PDP from Suspending, Expelling Wike to March 6 Alex Enumah in Abuja Justice J. K. Omotosho of a Federal High Court, Abuja, yesterday, extended his order restraining the Peoples Democratic Party (PDP) from suspending or expelling the Rivers State Governor, Nyesom Wike from the party pending the hearing and determination of the suit brought by Wike against the PDP. Justice Omotosho made an order extending his February 2 order, shortly after fixing March 6, for hearing in all motions pertaining to the case. In the Motion on Notice dated February 2, 2023, Wike is challenging alleged plans by his party, the PDP to either suspend or expel him from the party. Pending the hearing of the suit marked: FHC/ABJ/CS/139/2023, the Rivers State Governor brought an ex parte application praying the court for an order, "maintaining status quo and staying all actions in the matter relating to the threat to suspend or expel the applicant by the 1st to 5th respondents pending the hearing and determination of the Motion on Notice." The judge had subsequently fixed February 14 for hearing in the main suit. When the matter came up yesterday, Wike's lawyer, Dr. Joshua Musa, informed the court that parties have reached an agreement for hearing in the matter on a short date convenient for the court. Mr. Jonathan Usman, lawyer who represented the PDP confirmed the agreement.

The request was sequel to a Notice of Preliminary Objection filed by the PDP. In a short ruling Justice Omotosho held that the "Order of February 2, 2023 is hereby extended until the hearing of the interlocutory application." The judge hinted that the court would take the preliminary objection, interlocutory application as well as originating summons on the next adjourned date. Justice Omotosho had on

February 2, ordered parties in the suit not to do anything that may likely affect the outcome of the suit currently before the court. A Certified True Copy (CTC) of the court's order seen by THISDAY, had listed the PDP, National Working Committee (NWC), National Executive Committee (NEC), National Chairman, Dr. Iyorchia Ayu, National Secretary, Senator Samuel Anyanwu and the Independent National Electoral Commission (INEC) as 1st to 6th

respondents respectively. "Upon reading the affidavit in support of the motion ex parte deposed to by Precious Ikpe and after hearing Dr J. Y. Musa, SAN for the applicant, it is hereby ordered that all parties maintain peace and shall not take any action or step or act that may make the outcome of the Motion on Notice dated February 2, nugatory and worthless.” Justice Omotosho further ordered that any of such action so taken shall be a nullity.

condemn the threats. It said for the avoidance of doubt, threats from groups in the south-east were cowardly and childish, stressing that those behind them should know that they would be resisted.

ALL EYES ON SUPREME COURT AS SUIT AGAINST BANNING OLD NAIRA NOTES RESUMES TODAY and a gradual economic downturn in the state. "The implementation of the policy has totally paralyzed and brought to standstill the economic activities of Ogun State and also severely impaired the government's ability to deliver on its economic agenda to the people,” it stated. Also, Ogun State governor, Dapo Abiodun, yesterday read riot act to commercial banks, operating in the state, warning that the state government would shut down any bank operating in the state that refused to accept the old naira notes. The warning was sequel to complaints received from the people by the state government that commercial banks and some filling stations were rejecting the old naira notes as legal tender. The governor spoke yesterday, while addressing market men women at Itoku Kampala market in Abeokuta, as part of his reelection campaign to Abeokuta North Local Government Areas. Abiodun, who frowned at the action of the banks, noted that since the new naira notes was not available, commercial banks must accept the old notes to ease the suffering of the people.

Obasanjo, Duke, Emirs, Others to Attend FGCI’s 50th Anniversary in Kwara Wike Faults Policy Hammed Shittu in Ilorin

The Kwara State Capital, Ilorin, would play host to dignitaries like former President Olusegun Obasanjo, former Cross Rivers state governor, Donald Duke, national stakeholders, as well as the host governor, Abdulrahman Abdulrazaq, as the Federal Government College (FGCI), Ilorin, marks its 50th anniversary on Thursday. Also expected are the Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari, as well as other leaders in the country. Speaking with journalists in Ilorin, yesterday, the national president of the FGCI Alumni Association, Rear Admiral Muazu Salami (Rtd), said among activities lined up for the celebration was the talk on importance of unity schools in the country.

FGCI was among 104 unity schools established by the military administration of Chief Olusegun Obasanjo to foster national unity among future generations of Nigerians, especially, after the nation's civil war. Speaking on the importance of the event, the retired military officer said, "we want to showcase the investment of the federal government on the unity schools in Nigeria as well as urge the government to do more. We are grateful to a country that invested in us. "We want to celebrate our brotherhood and Nigerianess. Nigerians in the past produced Nigerians with patriotic fervour and we want that to continue." Salami, who said Nigeria has the potential of being among the best countries of the world in spite of its

current challenges, called for united efforts at confronting security challenges presently facing the country. Also speaking, the Chairman, Central Planning Committee of the 50th anniversary, Mr. Femi Edun, said a number of projects would be commissioned during the anniversary. "We are commissioning the upgraded ICT centre where we are providing sets of computer. We are also commissioning solar power project for an uninterrupted power supply in the school. "We are also going to be commissioning phase two of the solar streetlight project to ensure that the entire campus has lighting system. This is one of the ways of enhancing security on campus. Over the years we have intervened in several areas", he said.

The forum noted that it had been consistent with its position, in conjunction with other patriotic groups that the elections must hold throughout the length and breadth of Nigeria.

Governor Nyesom Wike said implementation of the naira swap policy by the CBN was political, adding that it has worsened the living condition of the poor across the country. The Rivers State governor said Nigerians were suffering as a result of the tactless implementation of the naira swap policy, and urged government to urgently ameliorate the condition of the people. Wike made the remark yesterday, during the official presentation of letter of nomination on the "award of Independent Man of the Year 2022," on him by the management of Independent Newspapers, at the Government House, Port Harcourt. The governor stressed that the essence of government and its agency such as CBN, was not to inflict hardship of the masses, but to cushion it.

"We are in a difficult situation now. It doesn't matter what anybody may say. The truth must be told at all times. Nigerians are suffering now and as a people we owe that responsibility to cushion the level of hardship that Nigerians are facing, we are not to worsen the situation," he added. Wike said people were not necessarily opposed to the redesigning of the N1000, N500 and N200 notes, but were concerned about the implementation of the policy and the hardship it has inflicted on the masses.

Gbajabiamila Says Relief Underway

The Speaker of the House of Representatives, Femi Gbajabiamila, has expressed delight with the recent ruling of the Supreme Court on the matter. Gbajabiamila, while speaking in Lagos, yesterday, during the launch of the second edition of GbajaRide community transportation initiative, said the House of Representatives under his leadership has been on the side of the people, working tirelessly to rescue them from economic saboteurs seeking to derail the successes of President Muhammadu Buhari and the APC administration. He said he was glad that the judiciary also confirmed House's position on the implementation of the naira redesign policy of the central bank, and that relief was underway. Ganduje Threatens to Sanction Erring Banks, Business Owners Kano state government has warned that it would not hesitate to revoke operational licences of major business owners or take action against anyone who refuses to accept the old naira notes as a means of transaction. Governor Abdullahi Ganduje, who handed down the warning in a statement issued by the commissioner for information and internal affairs, Malam Muhammad Garba and made available to THISDAY, yesterday, said the old naira notes were still legal tender. Continues online

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 •T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

T H I S D AY ˾ WEDNESDAY FEBRUARY 15, 2023

MIDWEEKPOLITICS

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

08033025611 SMS ONLY

Ethical Governance and Awo’s Legacy Fidelis David reports that as Nigerians clamour for solutions to numerous challenges, including the recent ﬁnancial and fuel crisis in the country, Chairman of the Southern Governors’ Forum and Ondo State Governor, Mr Oluwarotimi Akeredolu, as well as other stakeholders have argued that the only panacea and antidote to these quagmire is for electorates to vote leaders with characteristics and attributes like that of the late sage, Chief Obafemi Awolowo.

Pa Awolowo

o doubt, Chief Obafemi Awolowo who died almost 36 years ago, was an exceptional role model to many Nigerians and could be described as another legendary patron-saint of the Nigerian race. He was the pathfinder that founded a political party, the Action Group, to negotiate alliances with other leaders in persuading the British to grant Independence to Nigeria through peaceful and carefully planned constitutional and constructive processes. Chief Awolowo served as Premier of the Region from 1952-1959 and had remarkable success during his tenure. His government had numerous achievements, including the implementation of free Universal Primary Education, the establishment of Africa’s first TV station, the construction of West Africa’s first skyscraper (Cocoa House) and first international stadium (Liberty Stadium), the establishment of a first rate civil service, the construction of Nigeria’s first housing and industrial estates (Bodija and Ikeja), among others. It is however worthy to say that, the most significant of his achievements is the Free Universal Primary Education. In other words, the impact of Awo’s policies remains indelible and this has been re-echoed by Ondo State Governor, Mr Oluwarotimi Akeredolu, who said people should vote leaders with characteristics and attributes of Awolowo, and should not celebrate money over good behaviour and character. Akeredolu stated this recently in Akure, the Ondo State capital while speaking at a symposium, organized by a Socio-political Pro-democracy Advocacy Group, the ‘Atunluse’ Initiative, with the theme: “Let Our Votes Count”. The governor, represented by the state Deputy Governor, Mr Lucky Aiyedatiwa, went further to task Nigerians to shun vote buying, saying, it is the quality of followers that is affecting the quality of leaders. His words: “We need to look for visionary leaders, like we had Chief Awolowo. So let us look at the char-

Akeredolu

acters of those that were contesting whether they have the character of Chief Awolowo or not. You can see the way and manners how our governor is doing wonderful well in the state. You could see that Akeredolu has the same character with Awolowo and the development of this state is very paramount to him. “Let communal life be our priority, let us look at the characters of our candidates to vote. Let us vote for the candidate that is ready to provide adequate security and move this country forward,” the governor stressed. The Guest Speaker and Rights Lawyer, Dr Kayode Ajulo, who spoke on the topic: “Ethical Governance; Awo’s Legacy as a Case Study”, explained that politicians who get votes from electorates have the ability to decide on measures, economic, social, security, and education policies that could impact on citizens, hence the need for Nigerians to choose the right leaders. Ajulo who was represented by Mr Adeolu Ajayi, said leaders who will be elected in the 2023 general election must possess Awo’s qualities such as courage, integrity, humility, focus,

Ajulo

co-operation and strategic planning. According to him, such leaders must be willing to take risk in the achievements of his goals and successes and must have truthfulness in him which is the core of integrity. Another Guest Lecturer at the event, Prof. Akin Alao of the Obafemi Awolowo University, said many political parties had failed to develop programmes that would create wealth and positively impact the economy. Alao said, this was, unlike Awo’s Action Group, which attained its popularity through hard work, honesty and forthrightness. “We need to look for visionary leaders like Chief Awolowo. So, let us look at the characters of those that are contesting, whether they have the character of Chief Awolowo or not. You can see that our governor is doing well in the state. You can see that Akeredolu has the same character with Awolowo and the development of this state is very paramount to him. “Let communal life be our priority; let us look at the characters of the candidates before we vote. Let us vote for the candidate that is ready to provide adequate security and move this country forward,” the university don added. Earlier, the convener of ‘Atunluse’ initiative, Akin Akinbobola, in his welcome address said the vision of the initiative was to serve as a vital catalyst for social, economical, political equity and justice for the over all development of the society. The former General Manager of Ondo State Football Agency (ODSFA),

Nigeria remains underdeveloped due to the high magnitude of its social ills like harsh economy, illiteracy, corruption, unemployment, robbery, violence and terrorism. Thus, tackling the multifarious challenges facing Nigeria requires that, Nigerians allow their vote count and leaders who will be elected must possess Awo’s qualities such as courage, integrity, humility, focus, co-operation and strategic planning

said while the mission of their initiative was to inspire, empower and connect people within the society to proactively change their conditions and to build a society in which people live in harmony, full of hope, secure and have opportunity to achieve their fullest potential. He noted that the organisation is in 36 states of the federation, sensitising Nigerians on how to make their votes count. Speaking on the theme of the programme entitled, “Let our votes count”, Akinbobola said the country was in a mess; that there was a wide gap between people living in affluence and poverty. “Give us education that is affordable. When those living in luxury are sick, they travel abroad, while the poor go for herbal treatment because orthodox medicine is not affordable. Life has become unbearable for most Nigerians, why? It is because their votes don’t count. All these must stop. They buy votes and people go for such. “Power is in our hands. That vote is in your hand. That is why they beg you for it. But when you sell it, they will come back and make life unrealistic. But when you vote based on your conscience not by ethnicity or any affiliation, you will enjoy the country,” he said. Also speaking, Chairman of the occasion and Chief Imam of Akure kingdom, Abdulhakeem Yayi-Akorede, said truthfulness is the foundation quality of the trust that is necessary for the success of any politician who intend to follow Awo’s pathway. At the end, the take-away from the symposium was the conclusion drawn by the guest speakers and governor Akeredolu, that Nigeria remains underdeveloped due to the high magnitude of its social ills like harsh economy, illiteracy, corruption, unemployment, robbery, violence and terrorism. Thus, tackling the multifarious challenges facing Nigeria requires that, Nigerians allow their vote count and leaders who will be elected must possess Awo’s qualities such as courage, integrity, humility, focus, co-operation and strategic planning.

T H I S D AY ˾ WEDNESDAY FEBRUARY 15, 2023

POLITICS

Folarin Steps Up Campaign to Unseat Makinde Kemi Olaitan chronicles the campaign activities of the Oyo State gubernatorial candidate of the All Progressives Congress (APC), Senator Teslim Folarin, towards dislodging Governor Seyi Makinde, from Agodi Government House

ithin the last few months that the campaign activities for the 2023 elections started, the Oyo State governorship candidate of the All Progressives Congress (APC), Senator Teslim Folarin, has been in the news in the pace setter state, selling his candidacy to the electorates through rallies, town hall meetings as well as informal meetings. With his emergence as the governorship candidate of APC, the first task that the three-term Senator representing Oyo Central senatorial district who is running for the Agodi Government House for the second term the first been in 2015 when he contested under the platform of the Peoples Democratic Party (PDP), set for himself was reconciliation which saw him and his team transversing all the 33 local government areas of the state appealing to aggrieved members to join the fold and work for the victory of the party. This effort by the Chairman, Senate Committee on Local Content, was to yield great results as it led to the dissolution of a major group within the party, the Unity Forum, under the leadership of the Chairman, National Lottery Regulatory Commission, Alhaji Fatai Ibikunle, which was popular in the Oke Ogun and Ibarapa areas of the state. While setting the stage for rallies across the seven zones of the state, two events namely the unveiling of his running mate and inauguration of campaign council indeed showed what the people would expect from Folarin. At the unveiling of his running mate, Dr. David Femi Okunlola, he revealed some of the key initiatives and innovations in his blueprint, stating that he was out to focus squarely on

Folarin

proffering solutions to the enormous downward trend standing in the way of the prosperity of the state as he was more than prepared to be elected as the governor. His words, “I am delighted that the long-awaited season of electioneering has begun at full throttle.This window offers us the opportunity to traverse the state and lay bare our plans and agenda to empower the populace and build an all-inclusive better Oyo State, where all sectors would witness massive Growth and Development. “On the ballot with me, as my running mate, is the cerebral academic of repute and agricultural development expert, Dr. David Femi

Okunlola, from Saki West Local Government Area. This all-important decision was made, because of the need to bring together a team of talented individuals who, by dint of diligence and exceptional track records, are great managers of men and resources. “Dr. Okunlola ticks all the right boxes: His outstanding leadership and administrative qualities gained over the years will complement our lofty vision for the state. “Our campaign objective is not to engage in mudslinging or by invoking abrasive and petty sentiments, rather, our campaign will focus squarely on proffering solutions to the enormous downward trend standing in the way of our state’s prosperity, in spite of our potential. “Some of the key initiatives and innovations that we have highlighted in our Rescue Mission for Growth and Development Blueprint are, a Sincere and Holistic Agricultural Reforms, Strategic Urban Regeneration Drive, Employment and Entrepreneurial Opportunities with focus on Youth and Small Medium Enterprises (SME) through innovative ideas, First-Rate Healthcare Service delivery and High-Quality and Quantitative Education System. Ours is a government that shall be driven by Information Technology at all levels of governance. “In this all-inclusive Project, I will continue to lead members of my party in interacting with the youths, students, civil and public servants, labour unions, pensioners, traders, artisans, people with special needs, traditional institutions, religious groups and all other critical stakeholders on ways to bring about the positive growth and development that we earnestly crave for in the pacesetter State.” Folarin during the inauguration of the Cam-

paign Council headed by the Deputy Executive Secretary (Services), Universal Basic Education Commission (UBEC), Dr. Isiaka Kolawole, and 3,332 other members, assured that his administration will not give flimsy excuses to justify failures if elected, stating unlike the incumbent administration in the state, the APC Government, under him, would transform education, health, agriculture, security, environment and other sectors of the state economy. “I use this opportunity to allay the fears of Oke-Ogun people that our administration will not insult your sensibilities.We won’t turn the agrarian zone of the state to a destitute and beggars’ centre as captured in the manifesto of the present government in the state”, he said. The governorship candidate added that he would bring growth and development to the zone, noting that agriculture was the panacea for sustainable growth and development and promised to leverage on the agricultural potential to grow the state economy, address food insecurity and create massive employment opportunities for millions of unemployed youths. “I want to restate that I am not seeking the mandate of Oyo State citizens and residents to rule, but to serve the state. Our mission is to move Oyo State forward for Growth and Development and to restore her dignity and pace-setting status”, he said. Kolawole, in his remarks, said he accepted the appointment because the party was fielding its best eleven as presidential, gubernatorial, senatorial, House of Representatives and House of Assembly candidates for the elections. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Four Candidates in Hot Race to Succeed El-Rufai John Shiklam reports that four serious candidatesare to slug it out during the March 11, 2023 poll to succeed Governor Nasir El-Rufai of Kaduna state.

Sani

n Kaduna state, the governorship election promises to be fierce and interesting. There are 17 governorship candidates of the various political parties, but the major contenders are Senator Uba Sani of the ruling All Progressives Congress (APC); Ashiru Isa of the Peoples Democratic (PDP), Jonathan Asake of Labour Party (LP) and Senator Suleiman Hunkuyi of the New Nigeria Peoples Party (NNPP). They are not leaving anything to chance in their quest to win the election. However observers are of the opinion that the contest would be a two horse race between Sani and Ashiru. Sani, a serving senator, representing Kaduna Central Senatorial Zone, is the anointed candidate of the outgoing governor, El-Rufai. He retained El-Rufai’s Muslim-Muslim ticket introduced in 2019 by selecting the current deputy governor of the state, Dr. Hadiza Sabuwa, as his running mate. Before his election as Senator in 2019, Sani had served as political adviser to El-Rufai in 2015. His campaign jingles and programmes dominates virtually all local radio stations

Ashiru

in Kaduna. He and his running mate have been criss crossing nooks and crannies of the state, promising to review and build on El-Rufai’s achievements in the past seven and half years, though citizens of the state are not generally agreed on the governor’s achievements, especially, Christians, who see him as a biased leader. Besides, there is a general view, rightly or wrongly, that El-Rufai’s development projects were not spread across the state and that many people lost their means of livelihood. But last year, the governor begged the electorates in the state not to punish the APC governorship candidate for his mistakes (El-Rufai’s), maintaining that Sani was more generous than him and pleaded for forgiveness from those he might have offended. Sani is indeed a politician loved by the masses.

Asake

Hunkuyi

Some people described him as generous and compassionate. He promised to create jobs, tackle insecurity. His manifesto is based on a seven-point agenda which, according to him, is, aimed at improving the lives of the citizens. This include strengthen Safety and Security; Upgrade of Infrastructure, Strengthening institutions, enhance Trade and Investment. Isah Ashiru, the PDP candidate, is contesting for the governorship race for the third time. A two term former member of the state house of assembly and later two term member of House of Representatives, Ashiru crossed over to the APC in 2014 and contested with El-Rufai for the governorship ticket, but he lost. He was the PDP candidate in 2019, again, he lost to El-Rufai. Ashiru is determined to defeat Sani in the election having garnered the good will of some people who are aggrieved with the APC administration in the state. He has been promising to review the policies of the APC government in the state. His five points agenda centred on security, education, health , agriculture as well as women and youth empowerment. He also

promised to review the issue of sacked workers in the state. However, the alleged infighting among some prominent members of the PDP is not healthy for the party. Also, the usual bloc votes of the PDP in Southern Kaduna is no longer feasible as the votes would be shared with the LP and the APC who have made inroad to the area. Suleiman Hunkuyi, a former senator who represented Kaduna North Senatorial district on the platform of the APC in 2015, is also not new to the contest. He is the candidate of the NNPP. Hunkuyi is a grassroots mobiliser in his own right. In 2015, he led the campaign that resulted in the election of El-Rufai before they eventually fell apart. But some people alleged that he is a spoiler. Besides, the NNPP in Kaduna state, has been embroiled in crisis. Late last year, the state chairman of the party resigned his position, accusing Hunkuyi of alleged dictatorial tendencies. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ Ͷ˜ 2023

FEATURES

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

Harnessing Science, Technology and Innovation Potential in Nigeria Given the critical role of Science, Technology and Innovation in all facets of human endeavour as well as its importance to the transformation of the Nigerian economy from a resource -based to knowledgebased economy, Precious Ugwuzor reports on the recent drive by the Federal Institute of Industrial Research to adequately harness it and put the country among the top 20 economies of the world by 2030

he world is fast paced, and so also is the priority to offer timely innovations that will efficiently impact various segments of living, industry, and enterprises as solutions to personal, communal, and even societal needs of the people. In a world where the growth of developed and developing economies are tied to efficiency in Science Technology and Innovation, STI, a mono- economy country like Nigeria must not be left behind in accelerating its technological development potentials to sustain its growth. As oil price needs recede in importance and global alternatives being scaled up to replace fossil fuel in favour of green and safe energies, Nigeria has identified the need to diversify its economy from mono dependency on oil with bias to engineer a digital and science-propelled economy for industrial development. In this direction, policymakers have agreed that the principle of comparative advantage dictates that Nigeria cannot afford to neglect its agriculture sector but also the engineering sector for the purpose of easing utility, creating jobs and growing its industrial base. As the population soars, so also is the exploration of natural resources becoming insufficient for wealth creation; as such, it has become imminent that Nigeria embraces measures for values addition to practices by employing science and technology with creative ideas to transform raw materials into valuable goods and services; economic development and improved quality of life. Volume 1 of the National Development Plan, NDP, 2021 – 2025 was explicit in building a strong nexus among Science Technology and Innovation as three intertwined concepts that underpin the development of products, processes and systems to ensure human progress and wellbeing. However, despite the crucial role it plays in industrial development, Nigeria still ranks low in this although gradually embracing the STI innovation to change its industrial phase. Available statistics indicate that the world average gross expenditure on research and development as GDP stands at 1.68 percent, while the figure for Nigeria is 0.13 percent in 2007 (we should have data that is more recent). Minister of Science Technology and Innovation, Adeleke Mamora is however optimistic that Nigeria’s STI potential, when adequately harnessed, can put the country among the top 20 economies of the world by 2030. Mamora, at a stakeholders’ meeting to inaugurate the planning committee of the STI 2023 Expo in Abuja, noted the critical role of STI in all facets of human endeavour as well as its importance to the transformation of the Nigerian economy from a resource -based to knowledge-based economy. The Minister identified the role of STI which cuts across every sector of government with expected value addition to human and societal endeavours. “It spans through all the Ministries, Departments and agencies such as technology science, agriculture, aviation, industry, energy, health, space education, entrepreneurship, military amongst others,” Mamora observed. Challenges Facing STI Although much is desired to see speedy transformation of the STI, especially towards meeting the immediate and long-term development for economic and industrial revival of the country, experts have however identified that there are obstacles to surmount in the sector. Among them inadequate funding, lack of research, poor education and improper coordination have been identified as factors limiting deployment of STI in Nigeria. Lookman Adahunse, a Lagos based IT expert, advocated massive public and private sector funding of research and development of the STI, saying: “For Nigeria to build a fundamental

Dr. Mamora innovation paradigm that will give it incredible economic growth, it has to pump more money in research and development. The investments in research and development by government and private sector players must be consistent and not faltering.” Political economist and former Presidential aspirant of the Young Progressive Party, Kingsley Moghalu, believes Nigeria is yet to have a truly innovation-led economy because there is still little or no policy and financial support for moving the products of innovation into the mainstream marketplace through mass production and marketing distribution. Moghalu, in the same vein noted that investment by companies and government on Research and Development, R&D, are still relatively low even as Nigeria’s current dire economic situation and foreign exchange crisis in particular provides it with an opportunity to scale up innovation. “It is only innovation that can break the Nigerian economy’s structural dependency as an import- and consumer-driven one,” he noted. FIIRO to the Task But all hope is not lost as the Federal Government, under the leadership of President Muhammadu Buhari has in the last five years invested no fewer than N924bn to revive the science, technology and innovation sector in the country. The National Development Plan 2021-2022, Volume I, disclosed that the funds were devoted to priority projects in the sector, as well as others that are similarly crucial to its operations. Recently, the Federal Institute of Industrial Research, Oshodi, FIIRO, at the 2023 Technology and Innovation Expo, showcased some of its technological inventions and research products as outstanding feats capable of attracting investors

Dr. Jummai Adamu to the sector. Among the exceptional innovations displayed by FIIRO at the Expo held in Abuja are mechanized processing technologies for cassava, ceramics, legumes, bread and confectionery baking technology. Others are roots processing technology, oil seed processing technologies, beverage drinks production and preservative technologies, livestock nutrition/poultry feed, among others The Technology and Innovation Expo which had as its theme: “Actualizing Effective Diversification of the Nigerian Economy through Science, Technology and Innovation,” was organized to unveil the products to showcase the mileage that have been recorded so far as well as offering solutions on the way forward. FIIRO, an agency of the Federal Ministry of Science and Technology, is the foremost centre for Science and Technology-based research and development for the industrialization and socio-economic advancement of the nation. At the 2023 Expo, Dr Mamora who was impressed with the innovations however charged the research institute to engender the means through which these valuable products would find their way to the Nigerian market by improving on its research and marketing strategies. "The major challenge is how do you get this major research out to the market because it’s like you are winking in the dark, and when you wink in the dark, nobody can see you. You should light up your candles so others can see it,” the minister said. The Director-General/CEO of FIIRO, Dr (Mrs.) Jummai Adamu solicited the support of all stakeholders to invest in the cutting-edge products, goods and services of the Institute towards aiding the economic diversification of Nigeria's government. Dr Adamu also solicited the collaboration of investors to support the nation in achieving its diversification agenda of moving from a consumption to a production economy through effective STI utilization in the shortest possible period. She said the expo had presented itself as a clarion call for serious commitment by stakeholders and investors to move the economy from consumption to production for the purpose of stimulating economic growth, liberation and self-reliance for the nation and the Nigerians. The FIIRO boss noted that the mono-economic dependence on oil and gas, which is non-

It is an established fact that Science, Technology and Innovation holds the key to the present and future development of any nation as it plays a fundamental role in wealth creation, improvement of quality of life and real economic growth and transformation in any society

renewable, has kept the nation far away from meaningful development that would have made her respected among comity of nations. “This is attributed to our inability to properly utilize STI as the fulcrum for modern development. It is to be noted that all developed and developing countries all over the world are where they are today because they realized that it is only through Science, Technology and Innovation, that all our problems can be tackled. “It is an established fact that Science, Technology and Innovation holds the key to the present and future development of any nation as it plays a fundamental role in wealth creation, improvement of quality of life and real economic growth and transformation in any society,” she said. Dr Adamu submitted that STI has impacted many economic areas, reducing poverty, promoting healthier and more productive lives, rapid improvement in agriculture, energy, environment and economic growth. By bridging the technological power vacuum, she observed, more Nigerians can be adequately mobilized as needed human resources to tackle the challenges confronting the nation, especially towards arresting the menace of poverty, youth restiveness, terrorism, kidnapping and banditry currently ravaging the country. "As you may be aware, one of the key components that aid economic diversification is technology transfer, which is the innovation capabilities of any organization that wants to thrive technologically. “Increase in economic diversification will expose us to opportunities to utilize our technological prowess and become more capable to generate new technological solutions due to cross-fertilization of ideas among different knowledge areas of diversification, thus producing positive effects on our innovation performance," the FIIRO boss said. On the importance of the STI, she noted that a diversified economy has the capacity to support multiple businesses, increase sustainable circles of economic activity where businesses continually feed from one another and grow larger as the economy grows. “Worldwide, it is an established fact that economic diversification brings about stability, improves standard of living, minimizes the use of potentially underutilized resources, creates jobs and generates wealth for the teeming youth, considering the depletion nature of the oil that we have been depending since time immemorial,” she explained. The representative of the organized private sector and business community, at the Expo, Victoria Akai urged FIIRO to explore partnership opportunity with the Abuja Chamber of Commerce and Industry on business entrepreneurship, skills and technology to enhance productivity, especially among the youth and women. She also lauded the institute for its various research outputs which have strengthened the technological innovation sector in the country. Her words: "The value of your achievement in the area of various commodities including motor, processed and bottled palm wine, cassava bread, fish feeds, ceramics, textile design product, pepper grinding machines and other related machines for small and medium enterprise agencies as well as entrepreneurship training and technology transfer cannot be overemphasized." As Nigeria continues in this steady move to turn around its economy driven by science, technological and innovation, FIIRO has sufficiently demonstrated its capacity to support, not just the diversification of the economy away from the overdependence on oil, but has also proven, that with required support by investors and adequate funding by government, the revitalization of the Nigeria’s economy is nearer than before.

T H I S D AY ˾ ͯͳ˜ 2023

FEATURES

WACOL: Celebrating 25 Years of Promoting Human Rights, Women and Girls Empowerment For a non-governmental organisation such as the Women Aide Collective, WACOL, to celebrate 25 years of impacting care and empowerment of the lives of women and girls calls for huge accolades, writes Amby Uneze

he start-up of any business or organisation takes a lot of work, time, planning and thoughts. It has not been an easy journey the world over to initiate an idea, plan, establish and nurture it to a point of meeting the world standard which the Women Aide Collective (WACOL) has attended in its 25 years of its existence. While her contemporaries were waiting for ‘manna’ to fall from heaven, Joy Ngozi Ezeilo was busy reading, lecturing, molding minds, planning how best to assist the fortunes of helpless women and girls, especially in ensuring the eradication of widowhood practices in Igboland and beyond and stopping rapes among the girl child, etc. That in a nutshell was how the Women Aide Collective was founded in Enugu in 1997 precisely. To her, it was a normal activity any focused, hardworking and serious-minded person needed to do in order to actualize a burning desire. That desire had no other objective than to create a positive impact in the society by making sure that the rights of the people especially women, girls and those who cannot voice out their predicaments caused by inhuman treatment by their fellow human beings are heard. According to the founder, the idea behind the formation of WACOL was to have an organisation with a strong focus on access to justice for women and children in especially difficult circumstances. From my experiences belonging to membership organisations such as Women in Nigeria (WIN) and the International Federation of Female Lawyers (FIDA), I noticed the gap in unmet justice needs of this category, especially poor women and girls doubly disadvantaged and discriminated against because of their sex and gender. The search for justice by this category of persons often ends in futility. Hence the need to provide information and necessary support that would enable those whose human rights have been violated to recognize and respond to such violations. The myriads of challenges for those seeking to obtain redress from Nigeria’s legal system are what WACOL exists to tackle. WACOL was established in 1997 as an independent, non-political, non-governmental and non-profit organization; registered as a company limited by guarantee, that is, as a charitable organization (RC: 388132). WACOL’s vision as enunciated by the founder is a democratic society free from violence and abuse, where human rights of all in particular women and young people are recognized in law and practice. Its mission is to assist in the education, social, economic and political development of women and young people through a wide range of services: training, research, advocacy, shelter, free legal and financial aid, intra-familial conflict resolution, and information and library services. WACOL works throughout Nigeria and in the West African sub-region and its offices in Nigeria are located in eight states namely: Abuja (FCT), Enugu, Owerri, Cross River, Anambra, Ebonyi, and Edo States. WACOL in general works in four thematic areas namely; gender/human rights, peace advocacy/conflict resolution, democracy/ good governance and reproductive health /rights. Going memory lane on how WACOL started, Professor Joy Ngozi Ezeilo, Officer of the Order of the Niger (OON) and a Senior Advocate of Nigeria (SAN) noted with enthusiasm, “At the onset of WACOL, I had the privilege of winning the MacArthur Funds for Leadership Development in 1998 and that award then gives the individual winner $75,000 for a period of three years to conduct research and develop whatever initiative they consider a priority in the field of reproductive health and rights. “I did not use the money to buy a car for myself nor did I embark on jamborees to show the world that I had arrived. We hired an office to accommodate us and that helped me to realize my dream. In fact, it was in the year I introduced the course: women, children and law at the University of Nigeria, Nsukka. We were the first university in Nigeria to start that course as the Nigerian Universities Commission (NUC) gave its approval and introduced it in the curriculum. “I used my funds to carry out research on “Legal Constraints to Adolescents’ Sexual and

Prof Ezeilo (middle) handing over food items to some widows Reproductive Rights in Nigeria”. It was the first of its kind looking at the law, the protection it offers young women and men, and gaps and challenges in mainstreaming sexual and reproductive health and rights. "The findings of that formative study revealed and reinforced the interconnectedness of rights and how gender impacts the enjoyment of human rights of women, including health decisionmaking. Furthermore, it demonstrated how the personal becomes political and women’s body the site of struggle. "In fact, the conceptualised dichotomy of public and private spheres, productive and reproductive exacerbates gender inequalities, discrimination as well as gender based violence against women and girls. “The journey of WACOL started in 1997 and by 1998 WACOL was up and functioning in our first rented duplex accommodation with boys’ quarters at New Haven. We immediately started the safe house in 1998 to shelter women and girls at the peak of crises who have suffered human rights violence and/ or are victims of sexual and gender based violence (SGBV). The MacArthur personal funds leadership I won at that time made it possible for me to financially support WACOL before it got other funding opportunities. “It was the same year 1997 that I started teaching the course, women, children and Law at the University of Nigeria, Faculty of Law. I felt additionally energized after my LLM at the University of London in 1995 with a full Chevening Scholarship managed by the British Council to also engage in a scholarship that would advance social transformation. Thus, I worked to blend theory and practice manifested in my scholarship and activism. “My mother’s widowhood experiences helped to shape my passion in defending human rights and of course in studying and practicing law. “WACOL is a dream come through and its vision has been translated into action and her mandate is being realized given the recorded milestones achieved in the last twenty-five years. Woah! I cannot believe it is a quarter of a century already. "Indeed, time to begin a transitional phase of handing over the baton to the

next generation of female transformational leaders to continue the struggle we have started and build on the existing foundation and structure. The achievements are encouraging, especially assisting over sixty thousand women and children in need through our free legal aid programme." On free legal aid, which has become the mainstay of WACOL because of the believe that without redress and accountability the impunity of human rights violation will continue, WACOL is considered as the number one legal aid service provider for women and girls in Nigeria for providing assistance to about 2,000 on an annual basis with over 4,000 drop-ins yearly. “We register an average of 20 cases daily at our legal clinic. This is evidence based and well documented. From 1998 to date approximately 62,000 women and girls have accessed free legal aid and assistance services. We provide free legal services for women and young people in our offices across the country. We also run community law centers in Katsina, Ebonyi and Anambra States, including Mobile Legal Clinics in Bayelsa, Benue, Enugu and Rivers States.” The services available under the legal aid scheme include court representation, crisis intervention and counselling, information about victims’ rights, shelter, home visits and other psycho-social support for victims, and referrals for other needs. These cases are on different human rights abuses, including denial of inheritance, assault/battery, child abuse/neglect, harassment/intimidation, sexual assault/rape, family maintenance and other forms of violence against women and young people. Furthermore, the network of WACOL spans being a member of many coalitions, including foundation member of LACVAW, Gender Technical Unit (GTU), Gender and Constitutional Advocacy Network (GECORN), and the Network of Sexual Assault Referral Centres. WACOL pioneered and still coordinate the following networks with the its office serving secretariat to Victims Support Club (VISUC); Survivors Watch, Widows Economic Empowerment programme (WEEP); Nigerian NGO CEDAW Coalition, South East Women’s Network; West African Women’s Rights Coalition (WAWORC); Network for Women Living Under Religious and Customary Laws (NPWRIS); South East Human Rights Situation Room, Partners for Peace Advocacy and Good Governance; Media against Sexual Violence, Male champions for Women’s Rights and Gender Equity Movement (GEM). Professor Joy Ngozi Ezeilo is a distinguished Law Professor, the emeritus dean of law, UNN and former United Nations Rapporteur on trafficking in persons, especially women and children. She is a versatile legal scholar recognized as a leading

On free legal aid, which has become the mainstay of WACOL because of the believe that without redress and accountability, the impunity of human rights violation will continue, WACOL is considered as the number one legal aid service provider for women and girls in Nigeria for providing assistance to about 2,000 on an annual basis with over 4,000 drop-ins yearly

authority on the rights of women and children in Africa. She founded WACOL and Tamar SARC as well as pioneered the teaching of women, children and the law in 1997, including developing a curriculum for the teaching of human rights, health law and reproductive rights in Nigerian Universities and sexual harassment policy for education institutions and workplaces. To mention a few, Prof. Ezeilo is the 2019 winner of the National Human Rights Award and was also honoured with the civil society award of excellence by the UN Development Programme (UNDP)/UN Women in collaboration with the Embassies of the US, Germany, France, EU Delegation and the British High Commission to mark the International Women’s Day Awards Gala 2022 held at the US Consul General’s Residence. Eulogising the work of WACOL and its founder, Chairman of the occasion on the celebration of 25th anniversary of WACOL, Professor Ifeoma Enemuo (mni) of the Faculty of Law, UNN described Prof Joy Ezeilo as an international woman activist of repute. According to her, it is not easy to celebrate 25 years of quality service to humanity, adding “it is the Lords’ doing and it is marvelous in our eyes.” “Joy Ezeilo is WACOL and vice versa. She is an international woman activist of great repute. She is our digital Professor in the faculty. We call her “Ada Eji Eje Mba” (A daughter her community is proud of). She made the list of the most 50 world international women. WACOL has expanded so much as one of the leading human rights organizations in the world. I congratulate the WACOL family for the outstanding work it had continued to do to better the society at large. I say Kudos!” Goodwill messages were sent from funders and associates of WACOL. Such as representatives of States and Federal Government; WACOL Boards Director, Justice Nkem Izuako (rtd), UN Human Rights, UN Women, UNDP, UNICEF, Action Aid Nigeria, Ford Foundation, John D and Catherine T MacArthur Foundation, J4A, DFID/British Council, WACOL Alumni, Ifeoma Anya Ogbologu; Traditional Rulers represented by Igwe Barr. Ralph Eze (Igwe 50-50); Representative of CSOs/NGOs/ Women’s Movement, Dr. Abiola Akiyode; CBO/ Faith-based Organizations represented by Rev. Fr. Ambrose Ekeroku of Carmelite Prisoners’ Interest Organization (CAPIO), and Justice G.C. Nnamani, President of Customary Court. The highlight of the anniversary was the presentation of awards to those who have contributed significantly to the growth of WACOL over the past 25 years of defending human rights and promoting women and girls empowerment. They included: Professor Chinyere Stella Okunna (DVC Academics) Paul University, Awka, former Chief of Staff to Governor Peter Obi and First Female Professor of Mass Communication in Sub-Saharan Africa), Emeritus Professor Obioma Nwaorgu (Fellow, Academics of Science) and Executive Director, Global Health awareness Research Foundation (GHARF), Lolo Igwe Joy Ekoh, Mrs. Helen Eze, and Sir Amby Uneze, Senior Correspondent of THISDAY Newspapers, Owerri. The wish of Professor Ezeilo is that “WACOL will continue to focus on transforming societies for greater recognition and respect for women’s rights in law and practice. In doing so it will intensify social and legislative advocacy. It will engage in evidence-based research and data collation that will inform policy change and advocacy for law reforms, especially ones that will close the gender gaps. “I will end by saying that today is better than yesterday and tomorrow holds our attainments of ideals of democracy and development that are engendered. Whilst acknowledging progress and milestones recorded, it is not yet Uhuru and we must continue to focus on dismantling structures and enablers of violence against women and girls, gender discrimination and inequalities.” She urged governments to fulfill her state responsibilities and effectively implement extant laws on human rights, women’s rights, and children’s rights, including for persons with disabilities, adding “WACOL would continue to raise the accountability stake until its vision is achieved.”

WEDNESDAY FEBRUARY 15, 2023 •T H I S D AY

T H I S D AY ˾ WEDNESDAY, FEBRUARY 15, 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

1 4 , 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%

Tier-2 Banks’ Commission from Customers Up 14% to N219.77bn Amid Severe Competition

Kayode Tokede Amid severe competition from Fintech companies, six banks operating in Nigeria generated a sum of N219.77billion fees and commission for the year ended December 31, 2022 representing an increase of 14 per cent from N192.22billion reported in 2021. The six banks investigated include; Stanbic IBTC Holdings Plc, FCMB Group Plc, Fidelity Bank Plc, Sterling Bank, Wema Bank Plc and Unity Bank Plc. The banking sector witnessed renewed competition in electronic transactions in 2022, given the Central Bank of Nigeria (CBN)

Payment Service Bank (PSP) license to Airtel Africa Plc and MTN Nigeria Communication Plc. The six banks fees and commission income were generated from account maintenance charges, commission on electronic -banking activities, Commission on travellers’ cheque and foreign bills. Earnings from electronic banking include fees charged to customers for the use of digital channels, such as debit cards, mobile applications, (Unstructured Supplementary Service Data) channels, POS, and other related online banking services. Data released by the Nigeria Inter-Bank Settlement System

(NIBSS) showed that bank customers in Nigeria transferred a total of N19.4 trillion over mobile in 2022, representing an increase of 142 per cent increase compared to N8 trillion worth of transactions in 2021. The NIBSS data also shows that the volume of mobile inter-scheme transactions rose by 151per cent year on year from 284.5 million recorded in 2021 to 609 million in 2022. THISDAY analysis of the NIBSS numbers revealed that Stanbic IBTC Holdings reported N96.4 billion fees and commission in 2022, representing an increase of 9.15 per cent from N88.32 billion reported in 2021, while Fidelity

Bank reported N34.42 billion fees and commission in 2022, a growth of 17 per cent from N29.41billion reported in 2021. For FCMB Group, it reported N44.03 billion in 2022, up by 24 per cent from N35.59 billion in 2021 as Sterling Bank reported N20.65 billion in 2022, an increase of nearly seven per cent from N19.36 billion reported in 2021. In addition, Wema bank announced N16.6billion fees and commission in 2022 from N13.42billion in 2021 as Unity Bank announced N7.69billion in 2022, an increase of 26 per cent from N6.12billion reported in 2021. Despite the six banks growing

fees and commission income in 2022, Fintech companies like Paystack, Palmpay, PiggyVest, Kuda Bank, among others have introduced innovating past traditional institutions by making digital financial services like lending, savings, or investing readily available to customers. Also, other Fintech startups have fuelled the growth of alternative lenders which offer both higher yields to investors and faster, cheaper, more convenient loans for borrowers compared to traditional banks. Startups like Carbon, Fairmoney, Branch, Palmcredit offer lower loan rates than banks and this is mostly

because fintech companies are not subject to the operational costs involved in running a traditional bank with multiple branches. Analysts said that the entrance of telecommunications into the financial services space heighten competition especially with banks and Fintech companies currently operating in the country. They expressed further that, competition is necessary to drive financial inclusion through the provision of diverse and convenient financial services to the unbanked population. Speaking, Vice President, Continued on page 22

Mobile Transfers Peaked Highest in January with 108M Transactions Nume Ekeghe The month of January 2023 recorded the highest number of mobile money transactions since its inception at 108 million, numbers released by the Nigeria Inter-Bank Settlement System (NIBBs) has revealed. This is coming on the back of the Central Bank of Nigeria’s (CBN)

stance on its cashless policy. This peak is also a ripple effect of the naira redesign that has steered more Nigerians to using alternative mode for transactions. The NIBBS figures showed that a total of 108.135 million transfers were made in the month of January while the value of mobile transactions in September 2022 stood at N2.37

trillion. Analysis of the numbers showed that although the volume of transactions peaked in January, the value of transactions via mobile money declined marginally from N2.48 trillion in December but grew by 44 per cent compared with N1.05 trillion in January 2022. Also, the value and volume of

electronic transactions done through the Nigeria Inter Bank Settlement System Instant Payment (NIP) channel dipped slightly last month. According to January 2023 electronic transactions data released by NIBSS, the volume of transaction done via NIP dropped by 3.5 per cent in January to 542.65 million compared to the December 2022

figure of 561.31 million. Similarly the volume of transactions via the NIP platform went down by 7.74 per cent from N42.023 trillion in December 2022 to N38.772 trillion last month. However, the transaction volume and value had risen by 55 and 45 per cent respectively when compared to 348 million volume and N26.6 trillion

value recorded in January of 2022. While the volume of transactions via the POS platform had risen by 13.04 per cent, the value of transactions on the platform had declined by 2.3 per cent. Last year a total of 85.23 million transactions with a value of N826.3 billion was Continued on page 22

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 1 4 , 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

Change Updated Time (%) 10.82 -0.01 January 6, 2023 11.11 -0.71 January 6, 2023 0.00 January 11.35 6, 2023 12.60 0.00 January 6, 2023 12.92 0.00 January 6, 2023

Yield

BILLS MATURITY

Discount

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

3.01

NTB 11May-23

3.23

3.01 2.21 3.20

3.27

OTC F X F U T U R E S

CPS

Change Updated Time (%) 3.01 -0.01 January 6, 2023 6, 0.00 January 3.02 2023 6, 2.22 -1.71 January 2023 6, 3.23 0.00 January 2023

Yield

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 Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS JAN 25 469.87 January 6, 1 2023 2023 January 6, NGUS FEB 22 2 472.05 2023 2023 NGUS MAR 29 474.23 January 6, 3 2023 2023 NGUS APR 26 476.42 January 6, 4 2023 2023 NGUS MAY 31 478.60 January 6, 5 2023 2023

WEDNESDAY, FEBRUARY 15, 2023 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

MOBILE TRANSFERS PEAKED HIGHEST IN JANUARY WITH 108M TRANSACTIONS transacted through the POS platform as against 96.34 million transactions with a value of N807.16 billion done in January this year. Year on year, the industry data showed that payments made through the point-of-sale (PoS) in terms of volume increased to 96 million, a 6 percent surge from 90 million recorded in the periods under review. Value of transactions also showed significant growth of N807 billion in January from N573 billion reported in January 2022, representing a 98 per cent rise in its value. Following the same trend, the volume of mobile transactions increased by 237 percent to 108 million in January 2023 from 32 million in January 2022, its value also rose by 124.8 per cent to N2.4 trillion from N1.1 trillion in the period under review.

TIER-2 BANKS’ COMMISSION FROM CUSTOMERS UP 14% TO N219.77BN AMID SEVERE COMPETITION Highcap Securities, Mr. David Adnori said through the recent impact of technology and financial literacy, the word ‘Bank’ now connotes different reactions to different people. According to him, “Personalised

financial growth, opportunities for business collaborations, access to foreign investment opportunities, transferable generational wealth, and financial security all on one’s terms are some of the prevailing thoughts for customers.”

President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka, expressed that the PSP licenses to telecommunications had less impact on banks fees and commission due to the number of unbanked Nigerians.

According to him: “So many people were excluded from the financial inclusion and with mobile companies involved in payment services, it will expand the scope and increase number of people in the financial affairs of the country.”

He said that the mobile money payment sector going to witness competition with banks, given the outreach telecommunication companies have across the country. He added, “I think telecommunication companies

are going to compete with banks and it may drive down cost and bring about efficiency in the sector. Once we have serious competition, we may have a reduction and customers will be looking for better price settlement.”

Nigeria Eyes £14bn in UK Trade Scheme for Developing Countries James Emejo in Abuja The Executive Director/Chief Executive, Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak has said that the Developing Countries Trade Scheme (DCTS) recently unveiled by the United Kingdom (UK) would further support sustainable economic growth for Nigeria’s non-oil export sector. Specifically, the NEPC boss said Nigeria could potentially grow its exports to the UK from 0.3 per cent to 5 per cent share of the market by 2030 with a value of £14 billion. Speaking at a workshop organised by the UK-Africa Trade and Investment Service, the NEPC boss pointed out that DCTS would boost trade with Least Developing Countries (LDCs) through reduced tariffs as well as simplified Rules of Origin for LDCs. Essentially, the DCTS is designed to replace the UK’s current Generalised Scheme of Preferences (GSP) early in the year with the former expected to improve access to the UK market for developing countries. The DCTS aims to support sustainable growth in developing countries through a more generous unilateral offer among others. Yakusak explained that the essence of NEPC’s participation was to sensitise the Nigerian exporting community to take advantage of

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

the new scheme as well as provide veritable information that will proffer solutions to technical and operational challenges faced by Nigerian exporters. He said, “The opportunity for Nigeria to increase its non-oil exports to the UK in sectors where supply currently exceeds the demand are

cocoa, fertilizers, sesame, ginger, and cashew nuts. Others are natural rubber, cotton, frozen prawn, plantain, and tomatoes.” Yakusak, however, lamented the several challenges that have continued to inhibit the country from realising its potential. In a statement issued by NEPC

Head, Corporate Communications, Mr. Ndubueze Okeke, Yakusak further explained that with the new development, Nigeria no longer has to ratify the 36 conventions with the UK before trading. He said, “This is significantly more generous than both the EU’s GSP scheme and the US’ AGOA

scheme and, based on current trade volumes, would mean that 99 per cent of goods exports to the UK are duty-free.” Other major aspects of the new scheme include cutting tariffs for Nigeria so that 3000 new products are duty free for the first time. Also, the average existing tariff on

these goods is 7 per cent, implying that these changes make Nigerian exports more competitive in the UK. In addition, many tariff reductions are on value-added goods such as processed sesame oil, cotton clothing, and cocoa butter and paste and complement existing duty-free trade on raw products.

Fashola, Sanwo-Olu Assures Investment in Infrastructure Will Boost Economy The Minister of Works and Housing, Mr. Raji Fashola and the Governor of Lagos State, Mr. Babajide Sanwo-Olu, have said, consistent infrastructural investment by several administrations is a propeller of the current economic growth in Lagos State. The duo, who spoke at an ‘Interactive Session with the Organised Private Sector in Lagos noted that, since democracy returned to the country and states in 1999, the past governors between then and now, have keyed into Lagos infrastructure master plan that has made the state the best business investment destination in the country and one of the best on

African continent. Specifically, Sanwo-Olu said the Lagos master plan is centered around building of infrastructure, especially, in the area of transportation that is now aiding economic growth and development, while creating a business conducive environment for private investors to set up their businesses in the state. He disclosed that his administration had embarked on improving mobility by injecting funds to deliver an integrated mass transit system, coupled with massive and comprehensive road rehabilitation across the State, stressing that this has also boosted productivity by

expanding transport infrastructure, investment in rail and opening waterways. He said the THEMES agenda of the state government was to make life easier for its citizenry and the business community adding that, “in Transportation and Traffic Management, the state has intervened in almost a thousand roads across the State and built new roads in total length of 125 kilometres, while activated ferry services to quickly move people at business hours, even as it injected ferries of different capacities and opened new jetties.” He said his administration has provided 3,000 vehicles to service

its mass transit network and taxi scheme. On his part, Fashola, who narrated how road infrastructural development can create multiplier effect in job creation, noted that, road network expands will ensure that communities along roads constructs grow faster and become new destination of businesses. He gave an example of recent Oshodi-Apapa Expressway, LagosIbadan Expressway, among others, that were newly constructed, which have reduced man-hours being wasted on the roads prior to now, and how they have boosted revenues for businesses around the axis.

He urged Nigerians to vote wisely in the next election to ensure continuity at the federal and state levels. Meanwhile, Senior Special Assistant (SSA) to the President on Sustainable Development Goals(SDGs), Princess Adegoke Orelope-Adefulire, said, Nigeria has improved in the area of SDGs recently, especially, under the current administration at the federal and state levels, urged Nigerians to cultivate the habit of tree planting to preserve nature and ensure the environment is eco-friendly.

Climate Change: AATF Urges Risk Expert Canvasses Farmers to Explore New Use of Blockchain to Planting Window for Cowpea Curb Money Laundering James Emejo in Abuja The African Agricultural Technology Foundation (AATF) has urged Nigerian farmers explore identified suitable planting windows for cowpea in different ecologies in the country. AATF Regional Representative for West Africa, Dr. Jean Baptiste, said the windows will enable farmers cope with the vulnerabilities of climate change. Speaking during a visit to Pandagric Farms, near Keffi, Nasarawa State, he pointed out that the cowpea field in spanning over 35 hectares was part of the dry season cowpea production being introduced by the foundation to ensure the variety produces at its maximum in the absences

Nume Ekeghe

of insect pressure and other climate vulnerabilities. Baptiste noted that due to the impact of climate change resulting in either too much or too little rain fall or early cessation of rain, beans are not producing at their maximum potentials leaving Nigerian farmers miserable during harvest. He said, “After a careful study of the situation, we have come to understand that because farmers are not guided on when to plant, the crop productivity is often interrupted by climate uncertainties. The rain fall pattern for the country is not uniform and each year comes with its own surprises, so it is important for farmers to be accurately guided.” In a statement issued by

Communication Officer, West and Central Africa, AATF, Mr. Alex Abutu, Baptiste equally urged those in the Northern Guinea Savannah including Bauchi, Kaduna, Katsina, Kano and Zamfara to commence planting from the third week of July to the first week of August while those in Southern Guinea Savannah namely Niger, Kwara, Abuja, Adamawa, Taraba and Gombe belong have the first to the third week of August to plant beans. He pointed out that after two years in the hands of farmers, some farmers have taken advantages of the prolific nature of the Pod Borer Resistant Cowpea to undertake two planting seasons during the cause of the planting year.

The Head of Risk and Compliance, eTranzact International Plc, Edward Onyenweaku, has advocated the use of blockchain technology in the financial system to improve transparency and eliminate money laundering. He noted that blockchain technology has the ability to real-time data on transactions and can warehouse an immense history of past transactions, which would aid and identifying money laundering faster. He made the call during a panel session tagged, ‘The Growing Threat of Money Laundering in the Financial Sector Know Your Customer (KYC) and Anti-Money Laundering (AML) as a Disabler’ at the 2023 edition of AfricaNXT conference in Lagos. Onyenweaku also noted that

blockchain technology increases the level of trust, security, transparency, and traceability, and security of shared data. He added that blockchain automates the process of fraud detection with the help of built-in algorithms. According to him, transactions are continuously monitored as alerts of any suspicious activities are created. He said: “Blockchain maintains a complete history of past transactions within the network, which means that the user can track the data with full transparency. It also supports compliance automation by providing clean, accessible, realtime data, instead of asking people and third parties information on reviewers and auditors can verify transactions on blockchain records instantly, without contacting intermediaries.”

T H I S D AY ˾ WEDNESDAY, FEBRUARY 15, 2023

BUSINESSWORLD

INSURANCE

Of NIID Implementation and Motor Insurance Recent increase in premium on motor insurance coincides with 10-year anniversary of the Nigeria Insurance Industry Data base (NIID). In this report, Ebere Nwoji looks at the effects of the new motor Insurance premium on the industry operators’ plans to implement the NIID initiative in all the states of the federation.

s Nigeria Insurance Industry marks 10 years of the Nigeria Insurance Industry Data Base initiative (NIID), an information technology based system for facilitating easy collation and dissemination of statistical and other information relating to motor insurance policies, there is the big question on what impact the recent upward review of the compulsory Motor Third Party Insurance will have on the proposed implementation of the NIID initiative across the country. Currently, NIID implementation is effective in Lagos, the Federal Capital Territory (FCT) and Oyo state while the insurers have billed to ensure its implementation in all states in Nigeria. Indeed, analysts have raised the question on whether the recent upward adjustment on premium payable on motor insurance especially Motor Third Party Insurance would accelerate the spread of the initiative nation wide or shrink the huge success already recorded in some parts of the country. According to them, the question came up because of the prevailing economic hardship faced by Nigerians and the public outcry on the new premium rate attached on motor insurance policies since inception on January 1, 2023. Indeed, motorists in the country are not at ease with the new rate, which signifies 200 per cent increase from N5000 to N15000 for the compulsory Motor Third Party insurance and the mandate on underwriters not to go beyond 5 percent cost of vehicle for comprehensive motor insurance. This is a major shift from the former regime, which has been on for over 20years until January 1, this year.

INSURERS’ ATTITUDE BEFORE NIID Under the former regime, insurers arbitrarily cut rate on Motor insurances. For the compulsory Motor Third party policy which has N5000 official premium rate attached and N1000,000 claims limit, insurers were collecting as low as N1,500 instead of the official N5000. Such operators do not pay claims when the risk crystalises. They rely on ignorance of the members of the public on benefits attached to the policy to have their way in many cases. This also paved way for fake license issuers at licensing offices and local government offices to defraud unsuspecting motorists who want to renew their vehicle licenses to buy fake certificates from them. For the comprehensive motor insurance which is optional, the insurers play the same game as whereas insurance Act 2003 pegged the official rate at 10 per cent of the cost of the vehicles, insurers engage in rate cutting with some going as low as 2.5 percent hoping to repudiate the claims with one flimsy excuse or the other. This practice has been there over the years even as the various law enforcement agents at check points were totally ignorance of the right thing motorists ought to do. According to the statutory laws, vehicle insurance includes covers for cars, trucks and motorcycles.

INSURANCE ACT 2003 The Insurance Act 2003 mandates all motorists to have a minimum of Motor Third Party insurance policy in place. Section 68 of the 2003 Insurance Act says, “No person shall use or cause or permit any other person to use a motor vehicle on a road unless a liability which he may thereby incur in respect of damage to the property of third parties is insured with an insurer registered under this Act.” It further explains that the insurance of this section shall cover liability of not less than N1m. According to the Act, a person who contravenes the provisions of this section commits an offence and is liable on conviction to a fine of N250,000 or imprisonment for one year or both. Not withstanding the extant laws in some parts of the country, motorists violet the law arbitrarily thus either driving their vehicles without any insurance cover for the third party road user or obtaining the insurance certificates from fake certificate sellers at lower rate just

to pass police check points.

ATTITUDE OF MOTORISTS Recently, motorists in Kaduna openly said they would not renew their insurance papers in the state where official rates were charged by genuine insurance but operators but would go to neighbouring states where they could pay as low as N1000. Even the revenue collectors in the state supported them by insisting that they will not support purchase of genuine insurance cover from genuine insurers at the rate of N5000 insisting that it is discouraging motorists from renewing their papers in the state thereby depriving them of revenue that ought to come to the state. The result of all these is increase in number of accidents involving hit and run vehicles leaving the third party road user at his own fate. But with the recent hike in the motor insurance by NAICOM, analysts wondered what impact this would have on the implementation of the NIID nation wide.

NAICOM’S ACTION THISDAY checks reveal that not only did the regulator effected the increase, it also put in place checks and balances to block every escape route for insurers who would manipulate the system by collecting premium lower than the stipulated rate bearing in mind not to pay claims when it crystalises if only to sell his policy. This the regulator, the National Insurance Commission (NAICOM) did by mandating all insurers to upload on NAICOM’s portal every motor insurance policy sold and uploaded in the NIID. On the part of the motorists, the collaboration between the various law enforcement agents at checkpoints and the digitalisation of their system makes it possible for their cameras at checkpoints to capture every moving vehicle with fake document. This situation according to analysts when compared to what happens in some states in the north where even at N5000 premium most motorists prefer to go to other states where they can get the motor insurance at N1,500 raised the big question on whether the new rate will accelerate the progress recorded by the NIID initiative in its ten years of operation or retard the expected spread in those states where both NAICOM and Nigerian Insurers Association are beaming their searchlight for making the NIID effective.

OPERATORS’ VIEWS In their views, some insurers believe the new rate will not affect further implementation of the NIID in other states especially Motor Third Party insurance

while some said it will definitely have negative effect. According to the Executive Secretary Nigeria Council of Registered Insurance Brokers (NCRIB) Mr Tope Adaramola, the new rate will definitely affect the implementation of the NIID in the remaining states where it has not been implemented. He said with the public outcry that greeted the new rate and the present economic reality on ground in the country motorists find it difficult to pay the new rate. He said there are every likelihood that motorists would begin to cut corners especially in those states where the NIID has not been implemented. He said because the NIID has not been working in those states and motorists don’t understand the workings and implication of buying from fake certificate sellers they will look for where to get the certificate at cheaper rates which is suitable for their public. He said these set of motorists don’t even consider the corresponding increase in the claims or benefits on the policy as their major area of interest is how much premium they were required to pay. He said the beauty of the NIID is that it brings all insured vehicle under insurance net while those with fake certificate will not be captured. He said to guard against mass drift of motorists to fake certificate sellers, the industry as a team should guard against cutting corners in the new rate. The insurers through their umbrella body NIA should join hands with regulator in the present push for enlightenment of the masses on the need to buy their insurance from genuine insurers and on their own determine not to engage in rate cutting. He said they should through the enlightenment direct the attention of the people to the corresponding increase on claims limit from N1000,000 to N3000,000. He however observed the effective implementation of the NIID is still restricted to some parts of the country noting that the current premium increase and the bid to implement NIID in such areas of the country would look like throwing stone in a mighty ocean. He noted that NAICOM has started the education, enlightenment of the public adding that it should be made realistic and strategic while the entire industry should join hands. For the NCRIB Adaramola said the council has always taken responsibility in this kind of situation. He said motor insurance constitute between 60 to 70 percent of businesses

brought to the underwriters by brokers annually. He said this being the case, the brokers have take it as their responsibility to educate the masses On why they should positively minded in the new rate. Managing Director Afriglobal Insurance, Mr Casmir Azubuike said the new rate will not have negative effect on further implementation of the NIID across the country. He said this is because the third party motor insurance which is the main target of the initiative is a compulsory policy not optional.He said with the digitalisation of operations of law enforcement agents, motorists cannot have their way and will have no choice than buy their i surancesfrom genuine operators and have their claims paid when risk crystalises. He said it may have effect on comprehensive motor insurance which is optional not on motor Third party insurance. Also speaking, the Deputy General Manager of Sales Sovereign Trust Insurance plc Mr Olusegun Bankole said the NIID is meant to warehouse all genuinely insured vehicles in Nigeria. According to him, with the new rate, NAICOM has ensured uniform rate for all motor insurance. He said if operators do not circumvent the new rate, it will not affect the spread or implementation of the NIID to the remaining parts of the country. He said if the operators do not circumvent the new rate, it will not affect the spread of the NIID. He said the structure of the NIID is that unless you are genuinely insured by paying the stipulated rate you will not be captured by NIID and with that he suggested that insurers should work hard in terms of delightful services to customer as well as in payment of genuine claims. NIA Director General, Mrs. Yetunde Ilori, said the NIID has not been effective in all states has recorded achievements. According to her, in the states where it has been implemented, the initiative is aiming at crossing the 4 million mark targeted by the insurers from the onset. He said the industry has resonated around 3 million and moving to 3.6 million. According to Ilori, the 4 million plus mark is within reach this year. She anchored her argument on the adjusted motor insurance premium saying “ with what we see with the adjusted third party premium, companies are planning to hit at least a combined 4.5 million this year. Ilori said there was high anticipation that “we will move up.” She reckons that the public attention is revolving and concerned that the third cover policy works and it is real beyond just keeping the policy but enforcing it to get claims paid at the point of risk happening.

WEDNESDAY, FEBRUARY 15, 2023 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

As Naira Scarcity Offers Temporary Food Inflation Relief In a rare scenario, food prices have witnessed sudden drastic fall within the last few weeks as scarcity of the redesigned naira notes persists, but analysts warn this could be short-lived, James Emejo writes

here is a popular saying that whatever goes up must come down. It implies that whatever rises must fall, in obedience to the law of gravity in part. However, this phrase has never come true for prices of goods and commodities in Nigeria. Whenever there is an increase in the prices of food items and other consumer goods, expecting a fall is often like crying for the moon. General inflation, which stood at 21.34 per cent in December, remained one of the major macroeconomic challenges bedevilling the economy. Until the outbreak of war in Ukraine last year, Nigeria’s food inflation accounted for the highest contribution to the headline index as insecurity in food producing communities had prevented farmers from accessing their farms. Food inflation stood at 23.75 per cent year on year in December, which is 6.38 per cent higher than the 17.37 per cent recorded in the corresponding period of 2021, according to the National Bureau of Statistics (NBS). HIGH FOOD PRICES AMID HARVEST Despite the government’s assurances in the recent past that food inflation would abate following expectations of good harvests, prices had never crashed. There had been repeated assurances by some stakeholders and government officials that the impact of the then continued closure of the country’s land borders to curtail dumping and smuggling, which had resulted in increases in the prices of food items, would be ameliorated with the arrival of the harvest season. The border closure had created a demandsupply gap which needed to be met by local production, effectively shooting up the prices of basic commodities, particularly rice. Worse still, the on-going war between Russia and Ukraine caused a global supply disruption, resulting in imported inflation in the country and further compounded food prices.

BUMPER HARVEST AND PRICES But THISDAY findings revealed that some grain farmers, even after bumper harvest, have decided not to sell their produce, hoping that food prices would further appreciate so as to make more money from their investments. The Rice Farmers Association of Nigeria (RIFAN), had hoped that the bumper harvest expected by farmers across the country would help weigh down on prices of rice in particular, amidst the rising commodity prices. But stakeholders had insisted that assurances on a possible reduction in food prices may be political as the forces of demand and supply were paramount in determining food prices. They said other variables namely cost of production, poor infrastructure, and insecurity have always been considered in determining prices. Chairperson of the Association for Small Scale Agro Producers in Nigeria (ASSAPIN), Bauchi State Chapter, Amina Bala Jubril, had told THISDAY, “You want the prices to crash? But we don’t want the prices to crash because we laboured for it. “Let me tell you something, even with the bumper harvest, we invested; so, because there’s a bumper harvest, you don’t expect the farmer to throw away his produce, no. “The farmer should make profit and somehow… The issue is how much did the farmer invest and that’s what is the determinant of price. So, saying the price would crash is maybe saying it to console the citizens because of the high prices of food items.” According to her, “The government cannot come and make me bring out my produce and start selling it at a cheaper rate,” adding that “the price of local rice is still cheaper than the imported rice”, nevertheless. A TWIST OF FATE There have been reports of major reductions in food prices across parts of the country in the past few weeks occasioned by the continued scarcity of the new naira banknotes. The central Bank of Nigeria (CBN) in October 2022 announced the redesign of N200, N500, and N1,000 notes, and asked Nigerians to deposit their old notes before January 31, 2023 when they would cease to be legal tender. The deadline was shifted to February 10 following difficulties obtaining the new notes. As the scarcity swept across the country and gap between supply and demand widened, and fewer cash chased after supply, food prices were

reportedly slashed especially in rural areas. A trader confided in THISDAY that a basin of cassava flour which hitherto sold for N4,500 was slashed to about N2,500. The price reduction also cuts across other food value chains. If anything, observers argued that the cashless policy and currency redesign programme of the central bank have been effective to some extent in reining in food inflation. ANALYSTS CAUTIOUS However, analysts in separate interviews with THISDAY on the development, cautioned that the fall in food prices may only be transient, pointing out that the factors that led to high inflation were still much in place. The analysts were of the opinion that prices would revert to their upward trajectory as soon as availability of the new banknotes improved. They said while price reduction may be reasonable for perishable items, the same may not be true of imperishable goods. In his opinion, Professor of Finance and Capital Markets, Nasarawa State University, Keffi, Prof. Uche Uwaleke, said, “I don’t think it’s the best way to tackle inflation that is primarily supplyside induced” adding that “Rather, effort should be geared towards increasing food output and dealing with insecurity and fuel crisis. These should be more in the fiscal than monetary domain.” Uwaleke said, “Acute shortage of cash especially in rural communities could lead to lower productivity, rising inventory and low-capacity utilisation on the part of firms. For traders dealing in perishable items, the losses would be huge in the absence of storage facilities. “So, the economic consequences are grave. The way forward is to increase supply of new naira notes and significantly increase cash withdrawal limits with a plan to gradually implement cashless policy while improving payment infrastructure.” On his part, Wealth Management and Business Development Consultant, Mr. Ibrahim Shelleng, said the drop in food prices must be put in the context of the current naira shortages. He said, “Due to the lack of cash, sellers face a challenge in selling goods and will therefore have to lower prices to sell to those that have cash. “This is especially so with perishable goods. However, this does not reflect the reality of the economic situation but merely a short-term reaction to supply demand dynamics. Limited cash supply and high chasing what seems to lack excess supply.” He said, “The reality is that the high food production costs still exist and if the Naira shortages continue and adoption of e-channels remain slow, it may exacerbate the production problem and lead to food shortages. This will further hike up food prices. “Nigeria’s inflation figures tend to be cost-push rather than demand pull. Therefore, the current drop in prices

will unlikely be sustained and will more than likely skyrocket in the near future.” Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, said the reduction in food price was only induced by hardship and desperation as a result of scarcity of cash, adding that this is only transitory. He said, “It is not only food prices that have dropped. Even the cash to cash exchange rate dropped to about N500, except if there is a transfer of naira to the bank. “Once the Naira supply stabilizes, prices of food items will get back to their previous high prices. This is because the factors that led to their high prices are still persisting

and existing. “I do not expect the month-on-month inflation to drop significantly, if at all it does drop.” Also, Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, however pointed out that the reduction in food prices in rural areas is temporary due to scarcity of cash. He said the low food prices can also be attributed to perishable food items which have to be sold in order for the traders not to record total losses. Gbolade said, “This temporary reduction might however not affect food inflation figures significantly because after the scarcity the prices will most likely go back to the previous level.”

T H I S D AY ˾ ͯͳ˜ 2023

IMAGES

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

L-R: Chief Judge of Osun State, Justice Adepele Ojo; state Governor, Senator Ademola Adeleke; state Judges, Justice Adebayo Lasisi; Justice Michael Awe; Justice Fatimoh Adejoke and Justice Joseph Olukunle, at the swearing-in ceremony of the four state High Court Judges held at the Local Government Service Commission hall at the Secretariat in Osogbo…recently

L-R: Chief Operating Oﬃcer, Betway Nigeria, Otunba Kunle Olamuyiwa; Director-General, National Lottery Regulatory Commission (NLRC), Lanre Gbajabiamila; and a Director in Betway Nigeria, Chris Ubosi, during the presentation of the renewed national gaming licence to Betway by NLRC in Abuja….recently

L-R: Kaduna North senatorial candidate, Labour Party (LP), Ibrahim Sidi Bamalli; Kaduna State LP governorship candidate, Hon Jonathan Asake; Chairman, Northern Elders’ Forum (NEF), Prof. Ango Abdullahi; and the state LP deputy governorship candidate, Rt. Hon Bashir Aliyu Zangon Aya, during the presentation of their ﬁve-point manifesto and courtesy visit to Prof. Ango in Zaria, Kaduna State…recently

National Youth Service Corps (NYSC), Director-General, Brigadier General Yusha’u Dogara Ahmed (right), presenting a souvenir to the Director-General of the Department of State Services (DSS), Dr. Yusuf Magaji Bichi (left), when Ahmed paid a familiarisation visit to the DSS oﬃce in Abuja…recently

L-R: First Vice President, Igbobi College Old Boys Association (ICOBA), Yomi Badejo-Okusanya; Bishop, Diocese of Lagos West, Church of Nigeria (Anglican Communion) and Supervising Bishop of Igbobi College Yaba, Lagos, Rev James Odedeji; President, ICOBA, Olumuyiwa Kinoshi; Chairman, Board of Trustees (BoT), ICOBA, Bode Thorpe; and member, Board of Governors, Igbobi College Yaba, Mrs. Morin Desalu, at the Thanksgiving Service to mark the 91st anniversary of the college in Lagos…recently

A cross-section of worshippers of the Lord’s Chosen Charismatic Revival Ministries at the Church International Crusade tagged: ‘From Sorrow to Joy’, held in Lagos recently

PHOTO; ETOP UKUTT

II T H I S D AY WEDNESDAY FEBRUARY 15, 2023 TR

UT H

& RE A S O

Wednesday February 15, 2023 Vol 27. No 10168

opinion@thisdaylive.com

www.thisdaylive.com

A TALE OF MULTIPLE ICT REGULATORS SONNY ARAGBA-AKPORE canvasses convergence of the NBC and NCC for a seamless performance

See page XVI CUSHIONING LAGOSIANS’ PLIGHT Sanwo-Olu deserves commendation for slashing transport fares in addition to distributing food packs to the vulnerable, writes KEHINDE AJAYI

See page XVI EDITORIAL

KATSINA AND THE BURDEN OF BANDITRY

Mamman Daura has no powers to make anyone President of Nigeria, writes YUSUF NUHU

RE: MAMMAN DAURA AND THE NEXT PRESIDENT One cardinal tenet of democracy is the liberty availed citizens to freely hold and express their opinions. This however does not contemplate liberty for indiscretion, recklessness, mischief, insensitivity and disrespect for the rights of others under the law. The freedom to hold and express opinion must therefore not be confused with a license to misinform, misrepresent or mislead. In the exercise of the liberties availed us by the laws of the land, it is meet that we also apply bridles. :H PXVW OLPLW RXUVHOYHV ZLWKLQ WKH FRQÀQHV RI decorum, decency, and good conscience. It is even more so if providence bestows on us the rare privilege of being the leading lights of our spaces. As it is often said, “to whom much is given, much is expected.” Politics is a beautiful game we all have a historic responsibility to preserve. Sadly, the choices we make, the actions we take and the utterances we make could rob us of its beauty, which essentially is about the fair contestation of ideas between opponents with the view to swaying majority support and acceptability either side, and ultimately crytalising in those HQWUXVWHG ZLWK PDQGDWH WR PDQDJH WKH DͿDLUV of men/women and material resources for the ultimate good of all. On fortunately, such is not the case with some of us; which brings us to the object of this rejoinder. It would have been needless doing a rejoinder to a write-up in the Yoruba TRIBUNE ONLINE, authored by one Adebanwi, a Professor of African Studies at the University of Pennsylvania, USA, considering his level of educational attainment and presumably, his standing in society. We have lived long enough and negotiated numerous learning curves to understand that falsehood, told several times over, inevitably assumes the place of truth until it is corrected, often at much greater cost to the one lied against. I therefore feel strongly compelled to do this rejoinder in order to correct the distortions and misinformation in Adebanwi’s write-up. )RU SXUSRVHV RI FODULW\ DQG IRU WKH EHQHÀW RI those who might not have had the opportunity to read the said write-up on Mallam Mamman Daura, Adebanwi painstakingly asserts that: “Whoever wins the February 2023 presidential election in Nigeria would have GRQH VR FKLHÁ\ EHFDXVH RI RU LQ VSLWH RI Mamman Daura”. Adebanwi hinges his ´RVWHQWDWLRXVµ DQG ´LQÁDWLRQDU\µ DVVHUWLRQ merely on the fact that President Muhammadu Buhari is a younger nephew to Mallam Mamman Daura. He also asserts that “both Atiku Abubakar and Bola Tinubu recognize the central role Daura is playing and would play regarding who becomes the next president of Nigeria.” He goes further to assert that Mamman Daura KDV ´XQEULGOHG LQÁXHQFH RQ 3UHVLGHQW %XKDUL and well-placed to either hinder or advance the ambition of the two leading presidential contenders, Bola Tinubu and Atiku Abubakar.” He describes Daura as “one of

the most consequential and hindering power mongers in Nigeria’s history.” Nothing can be far from the truth than such assertion. We do know that all religions, including atheists acknowledge the existence of a Supreme being from whom power is donated to whom He wishes and when He wishes. I do not imagine that Adebanwi holds a contrary opinion in this regard. To therefore attribute to Mallam Mamman Daura such extraordinary powers which are exclusive only to God, to make or mar the presidential ambition of anyone, particularly in a highly religious country estimated at over 200 million people, is to deny the existence DQG VRYHUHLJQW\ RI *RG LQ WKH DͿDLUV RI ordinary mortals. Mallam Mamman Daura is not oblivious of the place of man including his humble self, in God’s divine hierarchy and will never play God in whatever sphere of human endeavor. He remains totally submissive to God, having the full knowledge that his 83 years on earth and still counting, is by the mercies and grace of the Almighty God, to whom he remains ever indebted. No one man can take the place of God and therefore, Daura does not wish to be dressed in borrowed robe he is not worthy of touching talk less of wearing. If only we can understand the incontrovertible truth that power comes from God and that the voice of the people is the voice of God, the venom, mudslinging, hate and falsehood that has come to be associated with our politics would be neatly excised. For Adebanwi to have asserted that Daura KDV ´XQEULGOHG LQÁXHQFH RQ 3UHVLGHQW %XKDULµ is to suggest that President Buhari has no mind of his. Nothing could be further from the truth. What Adebanwi’s assertion smacks of is the worst form of insult and disrespect for a man who, through dint of hard work, did not just ULVH WR WKH ]HQLWK RI KLV PLOLWDU\ FDUHHU ÀJKWLQJ to preserve the sovereignty of his motherland, EXW KDV SUHVLGHG RYHU WKH DͿDLUV RI WKLV QDWLRQ LQ WKH ÀUVW LQVWDQFH DV D 0LOLWDU\ +HDG RI 6WDWH and later as a democratically elected president for eight years. In his unbridled determination to demonise Mallam Daura, Adebanwi also asserted that: “Tinubu recognizes that for the past eight years, the presidency which has been HͿHFWLYHO\ XQGHU 'DXUD KDV EHHQ PRELOL]LQJ against him.” He goes further to state that:

“Daura had ensured Tinubu would not UHDS DV ÅGHVLJQHG WKH IXOO EHQHÀW RI KLV WRWDO investment.” He attributed Buhari’s “I belong to no body” in his inaugural speech in 2015 to Mamman Daura’s “ventriloquist shot directed at Tinubu.” One thing that makes academicians stand out from others, is their admirable penchant for empiricism and their lack of patience for baseless claims and postulations. Regrettably, WKLV LV ODFNLQJ LQ $GHEDQZL V ZULWH XS 2QH then wonders on what basis Adebanwi’s claims are founded. Could this be just for the fact that President Buhari is uncle to Mallam Daura? Such wild claims amount to a gross underestimation of the level of intelligence of Nigerians. The business of governance is a serious one and, therefore, must not be trivialised. Nigeria is too great a nation to have her fate determined by the whims of an individual. If that were possible, Mallam Daura would not have waited for his uncle, Muhammadu Buhari, to take three unsuccessful shots at the presidency before becoming the President of Nigeria in his fourth attempt. That would long KDYH EHHQ DFFRPSOLVKHG E\ ÀDW DQG VROHO\ E\ Daura regardless of the will of God Almighty and what Nigerians wanted. Adebanwi claims that Tinubu’s outburst in Abeokuta to the world on emi lo kan (“it is my turn”, or “I am next”) was a direct response to Daura’s machinations to stall Tinubu’s emergence as the party’s presidential candidate and Buhari’s successor. Again, Nigerians are not so naïve not to understand that much as one may wish the outcome of an electoral process goes in a particular direction, if you do not control the levers of power within the party structure, one’s wish remains a mere mirage. Adebanwi does not spare a breath to tell us Daura’s position within the party structure of the All Progressives Congress (APC). We have not even been told whether besides being President Buhari’s nephew, Daura is also a card-carrying member of the APC. In any case, who does not know the overbearing powers of the Governors and the considerable LQÁXHQFH WKH\ ZLHOG LQ RXU SROLWLFV" ,V 'DXUD D governor? How many governors did he install that puts him in a position to dictate to them in which direction their delegates should vote at a party Convention? While Mamman Daura does not begrudge Bola Tinubu for insisting it is his turn or time, which is within his constitutional right to so feel, there is nothing whatsoever to suggest machinations in any form from any quarter orchestrated by Daura to deny Tinubu his life ambition - after all, neither Daura nor his uncle, Muhammadu Buhari would be on the ballot on 25th February, 2023. Nuhu Esq., former DG of FRCN, writes from Kaduna Country Chambers, Bank of Industries Complex, Muhammadu Buhari Way, Kaduna

III

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * *

UT H

& RE A SO

EDITORIAL BOARD Chairman Olusegun Adeniyi Members Kayode Komolafe Chidi Amuta Peter Ishaka Waziri Adio Gimba Kakanda Aisha Shuaibu Kashim Ibrahim-Imam Monday Ekpe Sonny Aragba-Akpore Yemi Adamolekun Bolaji Adebiyi Sanyade Okoli Okey Ikechukwu Paul Nwabuikwu Ndubuisi Francis Benneth Oghifo Mahmud Jega Johnson Olawumi Iyobosa Uwugiaren

THISDAY NEWSPAPERS LIMITED Editor-In-Chief/Chairman Nduka Obaigbena Group Executive Directors Eniola Bello, Kayode Komolafe, Israel Iwegbu, Ijeoma Nwogwugwu, Emmanuel Efeni Divisional Directors Shaka Momodu, Peter Iwegbu, Anthony Ogedengbe Deputy Divisional Director Ojogun Victor Danboyi Snr. Associate Director Eric Ojeh Associate Director Patrick Eimiuhi Controllers Abimbola Taiwo, Uchenna Dibiagwu, Nduka Moseri Director, Printing Production Chuks Onwudinjo To Send Email: First Name.surname@Thisdaylive.com

On 20th April 2022, THISDAY Editorial Board hosted the Independent National Electoral Commission (INEC) Chairman, Professor Mahmud Yakubu to a conﬁdential brieﬁng in Abuja on the state of democracy in Nigeria and the preparedness of the commission for the 2023 general election. The group photograph after the session.

A Time to Choose

f there is anything to pick from the 2023 report on global inequality by United Kingdom-based charity, Oxfam International, it is that the days ahead are daunting regardless of who wins the presidential election. Grim as the global reality appears, the Nigerian condition is one of the most troubling: Three richest citizens are wealthier than 83 million others put together. According to the report, the richest 0.003 percent Nigerians (6,355 individuals worth $5 million and above) have 1.4 times more wealth than 107 million other Nigerians. Different factors, including politics, differing life outcomes, lopsided opportunities, and favouritism/nepotism, among others breed inequality. And in putting its report on inequality together, Oxfam underpins its conclusions on specific countries on three core pillars: public services spending for each country, how the taxation system is configured and how progressive it is as well as labour rights and wages. These are some of the challenges that whoever wins the presidential election next week will confront in the socio-economic sector. On the security front, the situation seems to be getting out of hand. The Southeast has become a killing field for “unknown gunmen” while opportunistic criminals continue to operate freely in the Southwest. Meanwhile, insurgency has since been overtaken by banditry in most parts of the North. Worse still, the traditional authority from which one should ordinarily look for solution is now increasingly being implicated. The Makaman Katsina, District Head of Bakori, Idris Sule, was recently dismissed by the Katsina Emirate Council over allegations of aiding banditry in his domain. He has joined a growing list of traditional rulers in Katsina and Zamfara States who have been sacked for allegedly hobnobbing with bandits and terrorists. Whichever the sector one looks at today in Nigeria, the challenges are enormous. By implementing its Naira redesign policy in a manner that has only worsened the plight of the ordinary people, the Central Bank of Nigeria (CBN) has added to the security challenges at a most critical period. And as we approach the 2023 general election, members of THISDAY editorial board have decided to, once again, share their perspectives on the way forward for the country. For GIMBA KAKANDA, the crisis of tertiary education in Nigeria and the perennial strikes that define our public universities is one of the major problems whoever is elected the next president will inherit with no easy options. From security to power supply and the general economic malaise that the ordinary Nigerian now must contend with, PETER ISHAKA argues that the next president already has his job cut out for him. In recommending that we need a president who understands how modem economy works, SANYADE OKOLI contends that the argument that many governments, including those in the developed world, run on budget deficits, ignores the fact that the structure of Nigeria’s economy is atypical: The federal government’s revenue as a proportion of the Gross Domestic Product (GDP) is extremely low whilst its debt to revenue ratio is high. SONNY ARAGBA-AKPORE looks forward to the kind of cabinet the next president will appoint while hoping that they would be men and women who would not hamper the work of the regulators in critical sectors like most of the current ministers do. From the perspective of KAYODE KOMOLAFE on the political parties, it is easy to understand why many of the gladiators do not seem to remember the names of their political parties since they represent the same things. Yet, as he argued, “the tendency to render political parties irrelevant could only impoverish the liberal democratic process” and stunt the nation’s political development. When the poor quality of governance translates directly into insecure lives, lost jobs, dangerous neighbourhoods, declining income, and general alienation, according to CHIDI AMUTA, the common man becomes an active political agent with a keen interest in elections, as we see today in Nigeria. WAZIRI ADIO, who zeroes in on the projected tightness of the presidential contest, sees it as “a double-edged development, worth celebrating and risk-proofing at the same time.” In asking Nigerians to dispense with the usual cynicism and nonchalance which can only prolong their woes, MONDAY PHILIP EKPE, tasks them to adopt a positive attitude that their vote will count and exercise their franchise. BOLAJI ADEBIYI x-rays the track record of the Muhammadu Buhari administration, concluding that the material conditions of Nigerians have not improved. JOHNSON OLAWUMI, a retired Major General of the Nigerian army who has held several command positions, examines the security challenges and how they can impact the election. In setting agenda for the next administration, AISHA SHUAIBU believes that fixing the local governments is important to fixing Nigeria while BENNETH OGHIFO is concerned that the presidential candidates have not shown sufficient interest on the issues of climate change and the environment. PAUL NWABUIKWU discusses why members of Nigeria’s elite are deeply divided over both mundane and profound issues of nationhood and national development. And I close the page with an admonition that regardless of the challenges at hand, we should do everything to avoid a constitutional crisis. Ordinarily, members of the editorial board of a newspaper hide under anonymity to intervene on issues of the day by way of the editorial opinion. But beginning from 1st October 2011, we have done a series of interventions at critical moments with each of these distinguished professionals offering individual perspective on topical national, and international issues. Ten days to the 2023 presidential election, we have once again decided to share with readers not the collective position of THISDAY Editorial Board they have been accustomed to reading Sunday to Friday in the newspaper’s editorials but rather the diversity of voices and ideas behind those interventions. – OLUSEGUN ADENIYI

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * JOHNSON OLAWUMI Retired Major General of the Nigerian Army and former Director General, National Youth Service Corps (NYSC), Olawumi held several strategic appointments at the service, defence and public levels. Olawumi obtained a ﬁrst degree in Mathematics from the Nigerian Defence Academy (NDA), Bachelor of Engineering (Mechanical) from the University of Ilorin and a Masters in Defence Studies from the Kings College, London. He is an alumnus of the National Defence College, Abuja, and a proud winner of the presidential award for best graduating participant.

Securing the Electoral Process BY JOHNSON OLAWUMI

lection, as the German born American political philosopher Leo Strauss puts it, is the only safety valve against tyranny and anarchy. For an election to be credible, it must enjoy popular participation. In the build up to this year’s elections, concerns have been raised on the possibility of people not being able to vote in some parts of the country due to insecurity. Even for the most incurable of optimists, a few cases of recent attacks and abductions would send chills down the spines of eligible voters in some parts of the country and may deter them from coming out to vote. In the Northeast, there is no doubt that the Boko Haram insurgents have been overly decimated, and we must give kudos to the men and women of the Armed Forces. However, the threat of prepense attacks and abductions is still real in areas around Abadam and Guzamala Local Government Areas of Borno State. Away from the Northeast, Yiaga Africa in its ‘Watching the Vote: Third National Pre-Election Observation Report’ identified some local government areas with reports of security threats that could limit access for elections. Specifically, the report expressed doubts of elections being held in Maru, Maradun and Kaura Namoda LGAs of Zamfara State, Shiroro LGA in Niger State, Bali, Wukari and Gashaka LGAs in Taraba State, Ihiala LGA in Anambra State, Ohaukwu LGA in Ebonyi State and Ehime Mbano, Okigwe, Oru West, Oru East and Orlu LGAs in Imo State. Also, in a recent interview, Governor Nasir El-Rufai praised the military’s efforts in Kaduna but nonetheless confirmed that out of the 23 LGAs in the state, bandits are still operating in three. Just recently, 40 people, mostly herders, were killed by a suspected drone attack in Rukubi village on the border between Nasarawa and Benue States. Since that attack, there have been reported cases of reprisal attacks by herders, on neighbouring communities in Benue State. Meanwhile, Nigerians woke early this month to the news of bandits’ killing of 84 people in Katsina State. The situation in the Southeast is also troubling. In the past one year, there have been reported abductions and killings of several persons, mainly government officials, politicians, and personnel of security agencies allegedly by the so-called Indigenous People of Biafra (IPOB). IPOB has also perpetrated wanton destruction and arson on police stations and INEC facilities in Imo, Enugu, Ebonyi, Abia and Anambra States. The horrible signature of IPOB’s attacks, mostly circulated on social media platforms is a pointer to the group’s clear resistance to elections holding in the SE, a claim it has often denied. One thing is however clear, despite whatever assurances that could be given, we may have low voters’ turnout in some states of the Southeast due to the threats by IPOB. A precursor to this was observed in the 6th November 2021 Governorship election in Anambra State. Despite the huge resources expended and the massive deployment of security agencies, the election witnessed the lowest turnout of voters ever in the state, which INEC puts at 10.27 percent as against 24 and 22 percent in 2013 and 2017 respectively. A society where only about 10 percent of the population determines those to lead it cannot be said to be truly democratic and this has been the misfortune of our elections over the years. For some reasons, our previous elections have been characterised by low voters’ turnout. Except for the increase from 64 percent in 1999 to 69.08 in 2003, the figures have continued to decline thereafter; from 57.49 in 2007, 53.68 in 2011, 43.65 in 2015 to 34.75 in 2019. The accuracy of the figures from 1999 to 2011, a period when massive rigging was profoundly aided by arbitrary thumb printing of ballot papers and underage voting, will of course remain contentious. Since it is safer to rely on the integrity of figures for 2015 and 2019 based on the innovations introduced by INEC especially the use of the card reader machine, we can see low turn-out of voters. With the further introduction of the BVAS machine and the effect noticed on voters’ turnout since its deployment for off season elections in Ekiti and Osun, we might witness a further decline in voters’ turnout in the 2023 Elections despite the increase in total registered voters by about 11.26 percent above the 2019 figure. This underscores the need to ensure that actions are taken to encourage all eligible voters to come out and vote. The concern is that Nigeria’s future must not be decided by a minority of the entire voting population. We have seen voters’ turnout for elections in other democracies. In the 2020 United States presidential elections, about 66.8 percent turnout was recorded. Brazil’s

Chief of Army Staﬀ, Major General Farouk Yahaya

Inspector General of Police, Usman Alkali Baba

The concern is that Nigeria’s future must not be decided by a minority of the entire voting population. We have seen voters’ turnout for elections in other democracies. In the 2020 United States presidential elections, about 66.8 percent turnout was recorded. Brazil’s 2022 Elections that ushered in President Lula had 79.05 percent voters’ turnout, while India’s 2019 Elections recorded a 67.4 percent turnout. With over 20 years of our democratic journey, our elections must be truly participatory, and all stakeholders must work assiduously to ensure that the people are free, safe, and secured to vote anywhere in Nigeria.

2022 Elections that ushered in President Lula had 79.05 percent voters’ turnout, while India’s 2019 Elections recorded a 67.4 percent turnout. With over 20 years of our democratic journey, our elections must be truly participatory, and all stakeholders must work assiduously to ensure that the people are free, safe, and secured to vote anywhere in Nigeria. As part of their preparations for the elections, the police, which usually provides the lead on internal security matters as well as the military must expectedly have done a thorough assessment of the threats and mapping of the hostile environments. They must have also prepared their contingency plans to deal with identified threats and made requisition for resources to back their plans. It is incumbent on the government to back its assurance of credible elections with concrete action, by ensuring timely provision of resources to facilitate police and military deployment. It could be recalled that when in 2015 Nigeria was faced with a similar threat to the conduct of elections in some parts of the Northeast, the military rose to the occasion. Backed with necessary resources, it was able to clear the areas and provided conducive conditions for the conduct of the 2015 Elections. The military must sustain its ongoing operations in the Northeast, Northwest and Northcentral to keep those bandits who may disrupt elections dislocated and unsettled. Effective surveillance and security must be provided for all INEC infrastructure, facilities, organic and adhoc staffs as a matter of priority before, during and after the elections. On election day, security agencies must in synergy raise their alert levels and ensure they act within the confine of their constitutional roles and code of conduct. In the identified hostile environment, their rules of engagement must be robust enough to envisage and deal with any threat with minimum collateral damage. Security agencies must also brace up for possible post-election violence going by the spate of pre-election skirmishes and the aggressive campaigns that we have seen in the past few months. Unlike in the past, the 2023 general election is widely projected to be a four-horse race not minding that 18 political parties are involved. So far, the drums have been louder in the camps of the supporters of ruling All Progressives Congress (APC), the main opposition Peoples Democratic Party (PDP) as well as Labour Party (LP) and the New Nigeria Democratic Party (NNDP) especially in states where there is no clear dominance. Likewise, the allegations of violence have hovered around supporters of these leading parties who daily engages in bellicose verbal altercations in support of their candidates. To further heat up the political space, the spokespersons of the leading parties have been enmeshed in a sort of ‘asymmetric verbal campaign’ where every foul language is considered fair to the admiration of their supporters. Equally of concern are the somewhat vague opinion polls that are periodically pushed to the media space, many of which lacks clear methodology and reliable analytical data. These survey polls may give a false sense of hope to some party supporters, and with the ferocious anger from the preceding campaigns, this could trigger some post-election violence if the results are not in their favour. INEC therefore owes the antidote by getting its act right through effective logistics arrangement, efficient performance of its BVAS machines, impartiality of its staff, proper and accurate entry as well as prompt transmission of results. State governments would need to support and cooperate with the security agencies to ensure that their citizens are not disenfranchised due to insecurity. Community leaders, various local vigilante groups, and the people must support the security agencies by providing useful information that could assist them in their operations. In areas where kinetic operations have become imperative, state governments and community leaders would need to support possible relocation of those vulnerable to minimise collateral damage. Concentration of people in IDP camps on election day may present visible opportunity targets to bandits and militants, and so they must be duly secured. The mainstream media has a responsibility to swiftly denounce any fake news that may emanate on social media, which could trigger violence especially on election day and post-election period. Overall, the people must realise that an election is but a means to an end, and it is not a war. In the words of former President Goodluck Jonathan, the election of an individual is certainly not worth the blood of any Nigerian; a phrase that all those seeking elective offices must continue to reverberate. On its part, the federal government must ensure safe and secured polls by guaranteeing the peoples’ security without counting body bags in the process.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * SANYADE OKOLI The CEO of Alpha African Advisory, Mrs Sanyade Okoli has over 27 years of ﬁnancial advisory; private equity; corporate, commercial and management ﬁnance; and auditing experience. She holds an MA in Mechanical Engineering from Cambridge University, UK and trained as a Chartered Accountant with Arthur Andersen (UK). Sanyade is also a trained inner healing minister and life coach. She is the founder of inspirational blog, www.justasiam.ng and creator of life-transforming e-course, Pursuing Wholeness.

Wanted: The Best Economic Manager BY SANYADE OKOLI

ith the extreme difficulties currently being experienced due to the cash shortage crisis, it is easy to lose sight of the fact that our economy was already in a precarious position and that the present pain is likely to have more long-lasting and far-reaching negative impact than first considered. The approved 2023 budget spoke volumes to us if we were willing to listen. It clearly stated that though the revenues expected by the federal government was only N10.4 trillion, the plan is to spend N21.8 trillion in the year. Essentially, the forecasted budget deficit exceeds the anticipated revenues. Meanwhile, for over 10 years Nigeria’s governments have failed to achieve forecast revenues and, especially with the current cash and fuel crises, there is no reason to believe 2023 will be different. I often hear the argument that many governments, including those in the developed world, run on budget deficits and Nigeria’s deficit to GDP ratio is within reasonable limits. Such a premise ignores the fact that the structure of the country’s economy is atypical. The federal government’s revenue as a proportion of GDP is extremely low whilst its debt to revenue ratio is high. In 2020, Nigeria’s tax-to-GDP ratio was 5.5% compared to an average of 16% for 31 other African countries. Furthermore, Nigeria has relatively high interest rates on both local and foreign debts, and a weakening currency which increases the Naira equivalent of foreign borrowings. Therefore, what is most pertinent is the government’s ability to fund the budget deficits and service the resultant increasing debt. To put this in context, 60% of 2023’s forecast revenues is expected to be spent on debt service alone. In fact, the amount allocated to only fuel subsidy and debt service for the first half of the year is 124% of the expected revenue for the period. So how do we plan to fund 2023 deficit? Borrow more! There is, however, a new challenge to that plan. Moody's recently issued the country a ratings downgrade. Consequently, borrowing will become more difficult and expensive. At best, the government’s borrowing plans will crowd out that of the private sector, making it more challenging and costly for the latter to access capital. The timing is most unfortunate as the next government looks to the private sector to drive much-needed economic growth to generate greater tax revenues, create jobs, reduce poverty, and decrease the stimulus for security challenges. As things stand, the government may be forced to once again turn to the Central Bank to fund its deficit; a move that could further destabilise the economy. The government is still in the process of finalising the restructuring of the existing N23.7 trillion ways and means facility (essentially an overdraft) from CBN, an amount that exceeded the legal borrowing limit from the apex bank. We should all be concerned that Nigeria seems to be heading into a debt spiral, a path that has led to disastrous consequences in other countries. What for some may seem like “the government’s problem” could well become a headache for us all. Take for example Ghana which is currently facing a debt crisis due to a rapid increase in its debt-to-GDP ratio over the past few years. This has been caused by several factors, including excessive borrowing to fund campaign promises and rising interest rates, resulting in persistent fiscal deficits. The government has also faced challenges in managing its currency, leading to inflationary pressures and a depreciating Cedi. Returning to the topic of the current cash shortage, CBN had targeted to raise the financial inclusion rate from 53.7% in 2010 to 80% by 2020. Though some progress was made over the decade, the actual attainment was 64% and a new target of 75% by 2024 was set. Sadly, due to the serious mistrust that has entered the current financial system because of bank customers’ inability to withdraw their funds as and when required, the expectation is that many will revert to keeping their money outside the formal financial system. Furthermore, the drive towards a cashless society has been impeded by the failure of the digital platforms to cope

Bola Tinubu

Atiku Abubakar

Peter Obi

Rabiu Kwankwaso

The amount allocated to only fuel subsidy and debt service for the ﬁrst half of the year is 124% of the expected revenue for the period. So how do we plan to fund 2023 deﬁcit? Borrow more!

with the surge in demand for their services and the widespread pain that has caused. As of 2015, the informal sector represented 41.4% of the country’s GDP. A large proportion of micro and small enterprises are dependent on daily cash inflows to meet their personal and business day to day expenses. Without the pre-existing digital structures and with the significant drop in cash available in the system, business activity has been grounded for many. Soon enough, economists will be able to quantify with more accuracy the toll this currency crisis has taken on an economy that was barely growing faster than its population. Especially considering the drag already caused by the prolonged period of fuel shortages across the country. As the Nigerian presidential candidates battle it out at the polls, one does wonder the extent to which they have a good grasp of the real war they are looking to inherit. More than ever before, the winner of this election will truly have his work cut out for him. More importantly, however, as we (the voters) head to the polls to make our selection, it is critical that we do so with a heightened sense of responsibility. This is not business as usual. We must ensure that we are making decisions informed not by our religious, tribal, party or pocket affiliations but based on who, in our considered assessment, not only understands the economic challenges facing the nation but can also effectively lead the country through these trying times. Our next president, together with his selected team, must be able to successfully navigate the economic land mines highlighted above, as well as address the issues of the popular but unaffordable fuel subsidies, unjustifiable foreign exchange subsidies, and high inflation, to name a few. This will have to be done in the context of continuing global headwinds with the Russia-Ukraine war showing no signs of abating and climate change driving the move away from fossil fuels upon which our economy has been dependent, etc. One dares not contemplate what could be the possible outcomes were we to choose a president that lacks an understanding of the gravity of what we are facing and implementable ideas to redress the situation. As I consider who I think would be best placed to lead Nigeria come May, there are three key factors I am assessing: Technical capacity, political will and the ability to implement. Nigeria’s next president needs to not only have a good grasp of the issues the country faces but also the intellectual capacity to proffer and/or understand implementable solutions. Such capacity comes from a mix of intellect, education, and experience. What we currently face is too complex to “manage”, as we often do. We have all seen many cases where those in positions of influence have the required technical capacity but have insufficient political will to do what is necessary. The lack of political will stems from multiple places but it generally all boils down to one word, “interests”; be it personal and/or political party. I have come to understand that when a government decision seems to make no sense to me, it is usually because they are solving for something different to what I had in mind. Electing political leaders who truly care about Nigeria and its people and therefore desire to do well by them will be a true game-changer for the fortunes of this nation. However, even when the first two attributes are in place, many simply lack the skill to implement. Often, the policies, plans, and programmes required to move Nigeria forward necessitates going up against entrenched interests. Many lack the courage and/ or political dexterity to do so. It becomes even more difficult without (reasonably) “clean hands”. It's easy though to sit on the sidelines and opine on what is required of our political leaders. Equally important is that we, the citizens, understand what is required of us to ensure we get the political leadership we desire. Each one of us must recognise and diligently exercise our responsibility to not only vote but to do so wisely. If not for us, then for our children. We the electorate have a say regarding the direction our country heads once every four years. We cannot afford our politicians to fail us; but worse than that, we cannot afford to fail ourselves.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * GIMBA KAKANDA Founder of DMC, an Abuja-based communication and strategy consulting ﬁrm, Gimba Kakanda is a notable public aﬀairs analyst, media and foreign policy consultant and author. He is a regular contributor for Aljazeera and several Nigerian publications, including Daily Trust. Kakanda holds a master’s degree in International Relations from the London School of Economics (LSE) and is an alumnus of the University of Iowa’s International Writing Program.

Tackling the Education Conundrum BY GIMBA KAKANDA

ast October, following a stalemate in the efforts to end the eight-month strike by the Academic Staff Union of Universities (ASUU), the federal government took a surprising move by registering two new parallel unions: the Congress of Nigerian University Academics and the National Association of Medical and Dental Academics. This seemingly divisive act was intended to undermine ASUU, but it also revealed a deeper concern - that President Muhammadu Buhari was growing tired of the demands of the striking union and unwilling to invest in the future of academia. The crisis of tertiary education in Nigeria and the perennial strikes that define our public universities is one of the problems the next president will inherit. At the core of ASUU's demands, as articulated by its president, Professor Emmanuel Osodeke, are several key issues. These include the release of funds for the revitalization of public universities, the honoring of earned academic allowances, the adoption of the University Transparency and Accountability Solution (UTAS) as the preferred payment platform over the Integrated Payroll and Personnel Information System (IPPIS), and a reconsideration of the 2009 Agreement. ASUU's demands have become repetitive and well-known. Since President Buhari took office in 2015, ASUU has gone on four major strikes to hold the government accountable to its promises and to further their vision for universities. These strikes have resulted in a total of 21 months of lost time. With each strike, the union has reminded the government of its previous commitments, including the 2009 Agreement. This agreement called for the allocation of at least N1.5 trillion to each federal university and N3.6 million per student to each state university, as well as the allocation of 26% of the annual budget to education, with half going specifically to universities. President Buhari's unfortunate distinction of having presided over the longest and most frequent ASUU strikes in history highlights a harsh reality: Both parties are reluctant to acknowledge that relying solely on MoUs and Agreements is not a sustainable solution. ASUU's pursuit of autonomy without developing alternative sources of funding separate from the government is a flawed and unrealistic notion that both sides have allowed to persist for far too long. The decision to break away from this cycle is not an easy one, but it is necessary to move towards a more sustainable solution. For universities to become largely self-funded and independent, ASUU

Minister of Education, Adamu Adamu

The political leaders targeted by ASUU's demands for sponsorship are largely unaﬀected by the strikes. Their children are enrolled in prestigious private universities abroad and would not be impacted by the closure of public universities.

must face the reality of increasing tuition fees. This solution, which has already been implemented by some public universities, has not been seriously considered in the past due to the populist argument that the targeted demographic may not have the financial means to pay. This, in turn, conflicts with the goal of promoting literacy and education in the country. Nevertheless, it remains a crucial step towards achieving true independence and sustainability for universities. The collateral damage of this serial disagreement between ASUU and the federal government has always been students and potential students from low-income families, those who can’t afford private university education and have been at the mercy of these public universities closed for a cumulative period of over four years since the return to democracy in 1999. The political leaders targeted by ASUU's demands for sponsorship are largely unaffected by the strikes. Their children are enrolled in prestigious private universities abroad and would not be impacted by the closure of public universities. The victims of the strikes, on the other hand, would likely end up as uneducated workers serving the political elite, or find themselves in a competitive environment where they are unable to match the education level of the political elite's offspring. The disparity between those affected by the strikes and those immune to them highlights the need for a sustainable solution that benefits all stakeholders, not just a select few. As Nigeria’s current Minister of Education, Malam Adamu Adamu, once wrote in his then column for the Daily Trust newspaper, “Calling off the strike is no big deal nor yet a cause for celebration.” What’s more important than the pointless strikes, he argues “is what eventually happens to the university system as a result.” This sentiment highlights the need for a long-term solution that addresses the underlying issues affecting the education system in Nigeria. For too long, Nigeria's public universities have been at the mercy of populist ideologies that resist the idea of operating beyond the constraints of a tight-fisted benefactor. The impact of this has been felt by the students who make up most of the population, who may be forced to endure seven years or more for a four-year degree program, while more affordable options like student loan systems go unexplored. The policymakers, who have been at the forefront of ASUU's demands, are not dependable allies in the union's journey towards financial independence. If there is going to be any change in the education sector, the next administration must do things differently.

SONNY ARAGBA-AKPORE With cognate practice in the media spanning more than three decades, Aragba-Akpore was an Assistant General Manager/Head, Corporate Communications at the Nigerian Communications Satellite (NIGCOMSAT) Ltd. In November 2014, he became the the Nigerian Communications Commission (NCC) Assistant Director/Head, Media & Public Relations, a position he held until retirement in July 2020. He attended the University of Lagos and holds B.A and M.A. in English. He is also a member of Nigerian Institute of Public Relations (NIPR).

Telecoms and the Next President BY SONNY ARAGBA-AKPORE

inisterial powers in respect of the telecommunications and broadcasting industries manifested gravely during the military era when their words were laws for both the operators and consumers. I recall a particular experience. In July 1996, an early morning mystery fire gutted the telephone exchange belonging to the Nigerian Telecommunications Limited (NITEL) and the Head of State, the late General Sani Abacha gave a matching order to the Communications Minister at the time Major General Tajudeen Olanrewaju to ensure that the facility which served several thousands of subscribers be fixed by whatever means possible. With paucity of funds to rehabilitate the facility, subscribers connected to the exchange which also served as an international gateway were asked to pick the bill. While many Nigerians revolted against the decision by the government, they eventually caved in as some subscribers working through high profile pressure groups agreed to contribute some funds to add to the rehabilitation process. Such funds were used to defray consumption of services bills when the exchange came back on stream. The Minister technically didn’t have a direct say in the matter even though he represented the government in the negotiations. The last 24 years or so have seen Ministerial powers encroach heavily on the independence of regulators of the Telecommunications and Broadcast sectors so much that there are no lines drawn between government policies and regulatory independence of the regulators. Indiscriminate awards of licenses by the Nigerian Communications Commission (NCC) and the National Broadcasting Commission (NBC) have been rife.

Minister of Communications and Digital Economy, Isa Pantami

Although the NCC rejigged its licensing procedures in 2001, when it conducted the Digital Mobile License auction, that did not remove ministerial influence on the organization. Both NCC and NBC were products of the Military having been set up by Decree 75 and Decree 38 of 1992 respectively, the entry of Civilian government changed the enabling laws as the parliament enacted Nigerian Communications Act 2003 and NBC Act 2004 thus creating rules that were expected to stand the test of time. Notwithstanding, civilian ministers held on to these regulatory organizations like personal estates. That is why we suggest a change of focus for these regulatory agencies and ensure their true independence in the next government. For instance, the NCC should run its full circle unlike how it is now being at the beck of the Minister who annexed some departments including the Universal Service Provision Fund (USPF) and other departments. Ministers’ military style administrative powers should be streamlined to limit them to policy decisions and allow the regulators to run in line with the provisions in the Act instead of being appendages of the Ministers. During the military era, Decree 75 of 1992 had prescribed for a NCC board but when a minister was asked about when he would constitute one, he boastfully retorted: “Board for NCC, which board? I am the board”. While civilian ministers have been smarter, nothing has changed. In the next dispensation, the boards and management should be given free hands to run the NCC according to the rules of engagement. The same goes for the National Broadcasting Commission (NBC) and NITDA. The next President should review the relationship between its Ministers and the regulatory agencies to avoid such pitfalls. Continued on page VII

VII

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * PETER ISHAKA A 1983 graduate of University of Lagos, Ishaka earlier worked with Newswatch and Tell magazines before moving to THISDAY as deputy editor. He is at present editor, Editorial page of the newspaper

Where Cometh the Redeemer? BY PETER ISHAKA

mperor Augustus would sometimes tell his Senate: “Words fail me, my Lords, nothing I can say could possibly indicate the depth of my feelings in this matter.” It is simply impossible to compact the gloom that has ruled and ruined our lives in the last decade in few words and sentences - a decade of poverty, and hunger, and neglect, and suffering, and injustice. It was a decade where words like tragedy and disaster are the stuff of everyday life, where violence is a method of choice, a means of solving problems, where bandits and surly soldiers walked the streets and gave substance to fear, and where many lost their power to shock. Who among us is unscathed? It was a decade that packed so much change in a lifetime. Electricity has long been the bane of Nigeria’s economy. One of the most significant events in 2013 was the privatisation of the power sector. For years, Africa’s most populous nation was generating next to nothing - about one-tenth the power of South Africa, a country that has one-fourth of our population. In October 2013, Nigeria was generating a mere 3782 MW having peaked at around 4518 MW in December 2012. Many industries and homes were compelled to generate their own electricity. After more than a decade of prevarication, the state-owned Power Holding Company of Nigeria was balkanised and replaced with six power generation companies and 11 distribution companies with the hope that there would be a remarkable difference in energy supply. The assets were formally handed over to private investors by the government on November 1, 2013. But a decade into the so-called privatisation, we do not know whether to laugh or cry. After billions of dollars and naira had been spent to boost power supply, electricity is getting scarcer, grossly insufficient as it is seriously rationed, near and far. Nigeria is a nation in darkness. The other day, after the power greed had collapsed, as of routine, there was less than10 megawatts to spread round a population of 200 million. In the year 2023! Many manufacturing firms have packed up or lost their power to compete because of the prohibitive cost of generating power with expensive diesel generators. Our national economy has been damaged as much as our individual psyches. Power is significant to the economy, and to all of us, but its sheer absence is not the only reason why the decade is lost. In April 2014, the hashtag #BringBackOurGirls brought the world's attention to a brutal Islamist insurgency in Nigeria led by Boko Haram. Their kidnapping of some 276 schoolgirls in Chibok, Borno State, underlined their opposition to Western education, in the 21st Century. At its peak, in 2015, Boko Haram was ranked the world's deadliest terror group by the Institute for Economics and Peace. In the more than the decade-long insurgency, thousands of innocent Nigerians have been killed or maimed while many millions have been displaced. Shamefully, more than 100 of the Chibok schoolgirls are still being held hostage. Beyond the individual tragedies, there are hundreds of thousands of children without parents, and wives without husbands. Farms were laid waste. Who will grow the crops to feed the survivors? By some estimates, the insurgency has subtracted about 3% per year in Nigeria’s GDP since 2014, forcibly moving money from education and infrastructure to fighting wars, besides the cost of massive displacement of farming communities. Yet after more than a decade, the militants are still deadly, with fighters from a Boko Haram faction loyal to Islamic State

President Muhammadu Buhari

Vice President Yemi Osinbajo

So, the decade is lost - enhanced by division and nepotism, selﬁshness, mismanagement, and appointments without merits. Will the next one make up for the laxity? That’s a question whoever is elected the next president will have to answer.

said to be behind an upsurge in violence ahead of the general election. And so, the confounding question: why have a well-funded Nigerian Armed Forces found it so difficult to crush the insurgents? This is a lost decade where promises are carelessly dumped. President Muhammadu Buhari came to power with the hope that his administration will bring down the insurgency, secure the country and put the nation on the path of economic growth. But the years have been a continuum of sadness, bracketed in Nigeria’s economic worst decade. Millions of Nigerians are today worse off. Or are you better off today than you were at the beginning of the decade? Within a space of four years, first in 2016 and later in 2020, the Gross Domestic Product (GDP) contracted in two major recessions, due mainly to slump in oil prices and the crippling impact of the COVID-19 pandemic. These came with rare economic hardships for the people in form of surging inflation amid widespread unemployment. The Academic Staff Union of Universities (ASUU) went on one of its longest industrial actions because of the inability of the government to meet its responsibilities. Acute shortages of foreign exchange severely weakened the national currency. Inflation is helped by the mass devaluation of the naira as one dollar now sells for almost N800 on the parallel market, which reflects the value of goods in the open market. Living conditions are further worsened by the 2022 floods which devastated about 34 states and claimed more than 600 lives. At the last count, inflation has shot through the roof, hovering at more than 21 per cent last November, just as a record 33 per cent Nigerians have no means of livelihood, with millions of youths constituting more than 50 per cent. The Nigeria Extractive Industries Transparency Initiative (NEITI) also revealed that crude oil and refined petroleum products valued at $41.9 billion were stolen from Nigeria in 10 years (2009 – 2018). The last two years were perhaps worse. It is therefore little wonder that Nigeria has the world’s highest number of people living in extreme hardship. In response to the times, thousands of educated and talented young people have been fleeing the country, with a local phrase “Japa” coined in place of “Andrew” of the earlier less dreary decade of the 90s to depict the phenomenon. Perhaps even more remarkable in the decade is the failure to put a tab on corruption. President Buhari was elected to office because he was perceived as a no-nonsense man who would wield the big stick against anyone who dips hands in the public coffers. That was in the past. Corruption has become a state policy. Public officers did as they like, without any restraining hands. Billions of public monies were diverted to private pockets and without consequences, even when most of the money being stolen is borrowed and the country is paying back through the nose. The rampart corruption, in addition to the inability of the state to secure and protect the citizens, is one of the reasons the country is gradually tipping over from weak to a failed state. Transparency International’s latest latest corruption perception index ranks Nigeria toward the bottom—at 154th of 180 countries. The last decade, painfully, is another lost one. There are one or two things to its merit - perhaps the feeble attempt at mounting some rail infrastructure at a great cost, but whose viability is again being lost to insecurity. So, the decade is lost - enhanced by division and nepotism, selfishness, mismanagement, and appointments without merits. Will the next one make up for the laxity? That’s a question whoever is elected the next president will have to answer.

Telecoms and the Next President (Cont'd) As for NBC, awarding broadcast licenses has been done allegedly on sentiment the way fines have been imposed especially on broadcast stations without proper investigations. The NBC board and management are believed to be operating from the minister’s office in Radio House. The next President cannot afford to allow this to happen if there is expected to be a stable regulatory environment where there are rules of engagement. Licenses should be given to those who deserve them and not necessarily along party lines or other primordial considerations. Broadcast infractions should be properly investigated to avoid unnecessary harm to operators. NCC Act is clear about its independence. In Chapter 1(b) to wit that the Act shall: “Establish a regulatory framework for the Nigerian communications industry and for this purpose to create an effective, impartial and independent regulatory authority.” The Powers of the NCC are derived from Section 3 of the Nigerian Communications Acts (NCA) of 2003 giving written directions to licensees. Consulting with Consumers, commercial and industrial organizations. Delegating its functions to a committee constituted by it. Summoning persons to appear before the Commission. Entering contracts with any company, firm, or persons. But that independence has been taken over by the Minister since 2019. The Minister annexed the USPF and turned

In the next dispensation, the boards and management should be given free hands to run the NCC according to the rules of engagement. The same goes for the National Broadcasting Commission (NBC) and NITDA. The next President should review the relationship between its Ministers and the regulatory agencies to avoid such pitfalls.

the independence of the regulator to his fiefdom. The USPF grew out of the Universal Service Fund (USF) a global phenomenon with over 50 countries as signatories to an International Telecommunications Union (ITU) agreement with a mandate to set aside funds to provide access to technology to the citizenry of their countries no matter where they live. The World Summit on Information Society (WSIS) declared that - everyone, everywhere should have the opportunity to participate and no one should be excluded from the benefits the Information society offers. Therefore, Universal Service Fund (USF) became for the NCC an opportunity for every National Government to extend the benefits of the Information Society to all communities. The next government should revisit the position of the USPF according to Section 112 and reposition it to carry out its proper mandate. Industry players believe that the NBC Act 2004 may have been bastardized by ministerial incursions as the regulator has been under the iron grip of the Minister who determines what should be and what not. This is clearly manifested in decisions taken and not taken so much that the regulator has no say over its activities. To redress the situation, the next government should review the Act to reposition it for effective and independent regulation away from ministerial incursions and interference.

VIII

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * KAYODE KOMOLAFE A journalist with over 30 years’ experience, Komolafe has participated in numerous international conferences in Journalism, labour, democracy and development including the Leadership and Simulation program at J.Mac Robinson College of Business, Georgia State University, Atlanta, Georgia, USA. In 2013 he was inaugurated into the National Human Rights Commission Governing Council. Currently THISDAY Deputy Managing Director, Komolafe holds a ﬁrst degree from the University of Calabar, Calabar, and a postgraduate certiﬁcate from the International Institute of Journalism Berlin, Germany.

2023 and The Vanishing Party BY KAYODE KOMOLAFE

he following anectode is, perhaps, illustrative of the point that political parties are increasingly becoming irrelevant as institutions of democracy. In a video, a woman was interviewed on her choice in the presidential election. She mentioned the name of her preferred candidate. But when she was given a sample of the ballot paper and asked to show the party for which she would vote the lady enthusiastically pointed to the logo of a party different from that of her preferred candidate. An observer may quickly attribute that action of the lady to poor voter education. But the problem seems to be deeper than ignorance on the part of a segment of the electorate. Nigerian politicians and commentators alike are actively promoting the irrelevance of political parties in action and words. One of the consequences of the disparaging comments on the place of the party in the political process is that in the popular imagination the party doesn’t matter anymore. The wrong political education being given is that the important thing is the personality of the politician seeking votes. As they say in pidgin English: “Abeg, who party epp?” This trend is myopic, but it seems to be dominant in Nigerian politics. What those who rationalise this trend often ignore is the reality that organic parties in a liberal democracy act as institutional intermediaries between voters, the civil society, and the political class. It is no accident that no viable liberal democracy operates a zero- party system. The obvious fact is that the 1999 constitution makes the platform of a political party an indispensable factor in the process of seeking power. Nigerian politicians often change their parties when they fail to secure party tickets or when they could read on the political horizon that their political ambitions would not be realised on the platform of their present political parties. In some other instances, it could just be a matter of the politician evading party discipline where it exists. The concept of party supremacy is often treated with contempt and fierce hostility. Hence, the intriguing migrations of politicians from one party to the other. A politician may defect from a political party to another one with a word of finality; yet a few years later he may return to the party. Years later he may quit his original party again for another party and in a matter of months he could return home to the first party. If you ask the politician on why he makes the back-and-forth movement across the political landscape, the retort would most likely be the invocation of the “freedom of association as enshrined in the constitution.” Meanwhile, in this tortuous partisan journey, the politician carries on as if he owes no one any justification for the indubitably unprincipled actions. Hence a culture of political opportunism is flourishing in the land. Talking about party and principle, compare the political culture in Nigeria to that of the UK. Two years ago, former Speaker of the House of Commons and a Conservative Member of Parliament John Bercow defected to the opposition Labour Party. On his way out of the Conservative Party, Bercow clearly made public his reasons for defection. It was based squarely on principle. He described the party as “reactionary, populist, nationalistic and sometimes xenophobic.” He called for a democratic replacement of the government of Boris Johnson. On his attraction to the Labour Party, Bercow said: “I am motivated by support for equality, social justice, and internationalism. That’s the Labour brand.” So, while a politician has the liberty to change his political party, the polity would be enriched when principles are stressed in taking the action. If you think drawing the contemporary UK parallel is inappropriate, the historical fact is that the trend in Nigeria’s Fourth Republic is a marked decline in party politics viewed against the background of what happened in the previous republics. In the Second Republic, the split in the left-wing People’s Redemption Party (PRP) was to a large extent based on principle. The faction led by Mallam Aminu Kano and Mazi Samuel Goomsu Ikoku was accused by the faction led by Comrade Michael Imoudu of jettisoning principles in fraternising with the conservative National Party of Nigeria (NPN), which was in power at the centre. The two governors elected on the platform of PRP demonstrated solid principles which bore a great resonance across the nation. Alhaji Balarabe Musa was impeached early in his tenure by the reactionary NPN elements in the old Kaduna House of Assembly because he remained uncompromising based on principle. His counterpart in the old Kano State, Alhaji Abubakar Rimi, resigned as governor following

PDP National Chairman, Iyorchia Ayu

APC National Chairman, Abdullahi Adamu

National Chairman of Labour Party, Julius Abure

The tendency to render political parties irrelevant could only impoverish the liberal democratic process. It will stunt the nation’s political development. As institutions of democracy, the party system should not be turned into a vanishing breed.

the split in the party and contested the 1983 governorship election on the platform of another party, the Nigerian Peoples Party (NPP) of Dr. Nnamdi Azikiwe. In the characterisation of the Second Republic parties, NPP was grouped in the league of progressive parties. Yes, Rimi resigned as a governor elected on PRP platform before defecting to NPP! However, in the contemporary political shenanigans, a governor elected on the platform of a party takes the party mandate along as he migrates to another party in a move often bereft of principle. Welcome to the new political saw in Nigeria: there is no morality in the process of seeking power. The point at issue is that PRP was associated with some ideological positions. It is unlikely that in 40 years from now, the political parties of the Fourth Republic would be viewed in retrospect as the PRP of 1983 is being remembered today. Earlier in the First Republic, there was indeed an ideological provenance to the split in the political party that was in power in the old Western Region, the Action Group (AG) led by Chief Obafemi Awolowo. This fact is hardly remembered as the story of that era is now reduced to the disorder of “Wild, Wild West.” At the 1962 Jos conference of the AG, a faction of the party led by Premier of Western Region Samuel Ladoke Akintola was opposed to the adoption of the ideology of “democratic socialism” by the party. Ikoku, a Marxist, was the National Secretary and one of the ideologues of the party. Akintola famously offered a sarcastic definition of socialism amid the profound crisis of the party, which could be paraphrased as follows: in socialism if you have two wives the state would take one from you and give her to your neighbour. Sarcasm or no sarcasm, at least some ideas came into the fore in the dispute within the party. In contrast, the Fourth Republic political parties hardly hold party conferences. The parties are hardly associated with any discernible ideas for which their members are passionate. The only passion demonstrated in political parties is that of securing the party tickets. If you are lucky to have the ticket you remain a devotee of the party, if you are “denied” the ticket you head for the exit door of the party. To be sure, even in the realm of theory, scholars hardly agree on any universally applicable concept of party structures and operations. The peculiarities of each nation shape the evolution of the party system. Indeed, the typology of parties also varies from system to system and from one historical situation to the other. Hence parties in liberal democracies (the type that Nigerian political parties claim to be) are different in structure and organisation from revolutionary parties or religious parties. By the way, the degeneration of political parties is not only a Nigerian (nay African) problem. Parties in the West, where liberal democracy has been deeply rooted, also have problems in the face of the onslaught from right-wing populism. Such is the fate of the United States Republican Party, which is still wrestling with Trumpism, and the European socialist parties risking emasculation with the rise of right-wing nationalist parties. However, as a group of people who share political interests, values and views, a political party should rest organisationally on well-defined principles. All told, the role of political parties in a representative democracy cannot be discounted. It is the political parties that should develop policies to be sold to the electorate during elections. In fact, candidates should be nominated to contest on the platform of a party based on their acceptance of the party programme by the politicians. It is because parties are not based on programmes that the campaign season is not defined by rigorous debates of issues. It is no idealism to imagine that it is the ideological colour of a party that would distinguish a politician as progressive, liberal, or conservative. And these are not empty categories. The content of each category becomes manifest when making policy choices as a party in power or opposition. And in the Nigerian situation, the political spectrum would be delineated based on principle instead of primordial sentiments. Imagine that (for hypothetical purposes), the four leading presidential candidates are not identified by their ethnicities and religions, but by the agendas of their parties as progressive, liberal, left of the centre, conservative etc. The choice would be better informed. And the political stage would be tidier. That is why it is more organisationally meaningful for parties to own the fundamentals of programmes. The tendency to render political parties irrelevant could only impoverish the liberal democratic process. It will stunt the nation’s political development. As institutions of democracy, the party system should not be turned into a vanishing breed.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * BOLAJI ADEBIYI A two-term presidential aide and immediate past editor of THISDAY Newspapers, Bolaji Adebiyi is the managing editor of the newspaper. Elected the vice president (West) of the Nigerian Guild of Editors last year, he attended University of Ife (now Obafemi Awolowo University) Ile-Ife, obtaining both bachelor and master's degrees in History. A British Chevening Scholar, Adebiyi also holds post-graduate and advanced diploma certiﬁcates in Journalism from the Nigerian Institute of Journalism, Lagos and The Thompson Foundation, Cardiﬀ, Wales.

From Frying Pan to Fire BY BOLAJI ADEBIYI

n a recent article, Femi Adesina, chief spokesman to President Muhammadu Buhari, lashed out at critics of his boss who had insisted that his last seven years plus were of no significant benefits to the people. “They have eyes but cannot see. Pity!” was the title of his rebuttal of the perceived failure of his principal. Expectedly, he reeled out the big infrastructure projects done by the president that he said critics could not see despite their bulgy sizes: “Lagos-Ibadan Expressway, the Second Niger Bridge, Enugu-Port Harcourt Expressway, Bodo-Bonny Road and bridges, Loko-Oweto Road and bridge, brand new airport terminals in Abuja, Lagos, Kano, Enugu, Port Harcourt, rice mills everywhere.” Obviously angry, Adesina wrote, “What of Abuja-Zaria-Kano Expressway in the works? AKK pipelines. And many other projects. No, they can’t see, because Buhari has done nothing. Fickle minds. Caviling. Carping. Flippant. Unserious.” Adesina’s anger could be understood within the context of his perception of the critics as mischief makers who had decided to overlook the president’s works. But is it not possible to critique the critics without resort to vulgar abuse? Eight years ago, Buhari and the All Progressives Congress (APC) hounded President Goodluck Jonathan and his Peoples Democratic Party (PDP) as good-for-nothing, dismissing his five-year rule, and the party’s 16 years in the saddle as a colossal waste of the nation’s resources and time. They subsequently convinced many Nigerians who accepted their point of view and voted the ruling party out of power. Now, the shoe is on the other foot. It is the turn of the APC to face the heat and all they seem capable of doing is to trade blames. Somehow, Buhari and his APC got a second term in 2019. Those who allowed them to repeat their class after failing their promotion examination in the hope that their performance could improve with more time and experience appear to be dissatisfied and are complaining aloud that there had been underperformance on all counts. Attempts to resort to the weather-beaten pastime of blaming the PDP’s 16 years have now been roundly rebuffed as many Nigerians call for responsibility on the part of the APC, asking it to own up to its failures. Looking at the facts, are Nigerians and the nation better than they were in 2015? Not quite, both in terms of records and practical reality. Buhari met an economy that was the biggest in Africa and was worth $500 billion with 4.50 per cent growth rate. Capacity utilisation was 60.5 per cent with 8.09 per cent unemployment rate. Foreign Direct Investment was $3.06 billion. Although the debt portfolio was N12.3 trillion, the external reserves stood at $29.13 billion with an exchange rate of N197/$. While inflation was pegged at 9.01 per cent, poverty rate was 33.5 per cent. What is the state of play under Buhari? After taking the economy in and out of recession twice, it has been an epic struggle for economic revival. The growth rate has just made it back to 2.25 per cent. Despite the quantum growth of the foreign reserves to $37.08 billion with FDI lowering to $1.5 billion, there has been an acute shortage of forex forcing the rate to as high as N448.89/$ (N750/$ in the parallel market) bringing capacity utilisation down to 51.3 per cent. With inflation moving up to 21.34 per cent and unemployment at all time high 63 per cent, it is little wonder that poverty rate ballooned to 47.3 per cent. Meanwhile, national debt found its way up to N44.08 trillion. The poor economic situation, which senior officials of the administration insist is improving, is as bad on paper as it is on the streets of Nigeria for many Nigerians, over 100 million of who live below the poverty line. If anyone is in any doubt about this, the experiences of the people in last one year should have cleared the doubt. Despite posting trillions of Naira as fuel subsidy, long queues have been a constant feature of filling stations across the 36 states of the federation and Abuja. This, a clear testimony to the humongous corruption that has plagued that industry, demonstrates most intensely the failure of the fight against corruption. In fact, the corruption index has worsened under Buhari from 136 in 2015 to 150 in 2022. Principal officials of the administration habitually speak about

Minister of Finance, Zainab Ahmed

Are Nigerians and the nation better than they were in 2015? Not quite, both in terms of records and practical reality. Buhari met an economy that was the biggest in Africa and was worth $500 billion with 4.50 per cent growth rate. Capacity utilisation was 60.5 per cent with 8.09 per cent unemployment rate. Foreign Direct Investment was $3.06 billion. Although the debt portfolio was N12.3 trillion, the external reserves stood at $29.13 billion with an exchange rate of N197/$.

perceived strides in the infrastructure and agriculture sectors. No doubt, a couple of railways have been completed while several road projects are ongoing. For instance, the Abuja-Kaduna, Lagos-Ibadan and Warri-Itakpe rails have been completed in the life of this administration. On its scorecard are also the infrastructures mentioned by Adesina as stated earlier. Although the administration would not recognise the efforts of the past governments that started the projects, it is only fair that the Buhari administration is credited for completing them. However, the benefits that would have accrued to the people have been undermined by the worsening security situation which has discouraged both rail and road travels as armed non-state actors have been on the prowl. Their raids have kept many farmers off the farms, jeopardising the heavy investments of the Central Bank of Nigeria through its Anchor Borrowers programme. Not a few social analysts have, therefore, wondered how things have come to be this bad. When Buhari ascended the saddle in 2015, the main security challenge was the Boko Haram insurgency in the North-east. Whilst the administration started with claiming the technical degradation of the insurgents, it soon became obvious that the security crisis was spreading beyond the traditional strongholds of the outlaws. In the North-central was added the menace of armed and violent pastoralists who raided at will farm settlements, forcing Samuel Ortom, the governor of Benue State, to engage in an open confrontation with Buhari and the federal government over what he called the kid-glove treat of the marauders. The North-west would soon be engulfed by the orgy of violence as bandits took up arms wreaking havoc and displacing many citizens from their communities. The southern parts of the country have had a fair share of the rising insecurity. Insurgent groups have held the entire South-east hostage for years, enforcing a stay-at-home regime every Monday. Besides, gruesome killings have become the order of the day with security agencies at their wits end on what to do to abate the violence. For a moment, kidnapping for ransom, which had become a thriving industry in the North, made an incursion into the South-west. This has taken a concert of efforts by the governors of the region to tackle it. An interesting debate has been on among the principal officials of the Buhari administration, state governors of the North-west and North-east and the federal legislators of the insurgency-infested regions on the effectiveness of the efforts of the security agencies to route the bandits. While the federal officials insist that the menace is under control, some of the governors and the federal legislators complain that several of their local governments are under the control of non-state actors. What is clear though is that insecurity has festered significantly across the country, forcing many citizens into internally displaced persons camps. The most profound evidence of the gravity of the security situation is the testimony of Mahmood Yakubu, chairman of the Independent National Electoral Commission in several media interviews. Asked on his greatest fear about the impending general election, he said it was the orgy of violence, particularly in the North-east and the North-west. Incidentally, events of the last two weeks arising from the redesign of the Naira and the poor implementation of the swap of the old and new have beclouded the manifest negative impacts of a worsening economy and security. But even the acute shortage of fuel and cash that is now on display emanates from the same malady that afflicted the economy and security: incompetence. This, for instance, was a major highlight of the letter of Olusegun Obasanjo, former president of Nigeria, who in a letter to Nigerians in the brand-New Year summarised the impact of the Buhari administration on the country as moving from frying pan to fire. The good thing though is that ten days from now, Nigerians will have the opportunity to chat a way out of the quagmire they have found themselves. With the presidential and federal legislative elections billed for 25 February, and governorship and state Houses of Assembly poll slated for 11 March, Nigerians have a chance to elect a new set of leaders who they believe would change their fortunes. May the best candidates win at all levels.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * CHIDI AMUTA With more than 30 years in reportorial and management journalism, Amuta has held senior editorial positions as foundation Member, Editorial Board, The Guardian; Chairman, Editorial Board and Editorial Adviser, The Daily Times Group and, until 1999, Chief Executive, The Post Express. Amuta holds a First Class Honours degree and a Doctorate of Philosophy from the University of Ife (now Obafemi Awolowo University), where he taught Literature and Communications Strategies for ten years before moving to the University of Port Harcourt.

Hopes, Impediments and Fears BY CHIDI AMUTA

n a matter of days, the 2023 general elections will be upon us. What seemed like eternity a few years back is now a matter of days away. In the post military era, perhaps no other election has generated so much interest and anxiety as the imminent one. Our national discourse in the last three or four years has been consistently predicated on 2023 as a watershed year of democratic change in Nigeria. The change widely expected is from a rudderless incumbency to a more willful and purposive political destination. The reasons are many and obvious. First, the incumbent Buhari administration has earned for itself a long list of negatives in the business of governing the country. Consequently, most citizens cannot wait for the administration to quit. The prevailing national consensus is a rehash of what the mood was in 2014/15 when Goodluck Jonathan was on the ballot. Then the rhetoric was: “Anything but Jonathan!” It was that consensus that heralded Major General Buhari’s return to centre stage. Today, the street consensus has changed to something like: “Anything different from Buhari!” In something with the echoes of Greek tragedy, hubris has re-enacted the chorus. The mob and mass that shouted “Sai Baba!” to welcome Mr. Buhari eight years ago has done a 360 degree about turn into: “Just Go Baba!” In place of the garlands and wild welcome praise songs from wild mobs of cultic devotees, Buhari is now being welcomed into major northern population centers with a hail of stones and unprintable salutations. This scenario was enacted in Katsina, the president’s home state, as a welcome parade a few weeks ago. It also happened in Kano a fortnight ago when the mob was even stoning the police helicopter accompanying the president! As a direct testimonial to the serial bumbling of the outgoing administration, the nation that is about to go to the polls is beset with myriad problems and crises. They hardly need further rehashing. These range from perennial fuel scarcity to comprehensive insecurity, spiraling poverty, institutional decay, and unprecedented disunity. At no other time in our national history has the survival of the Nigerian nation been put to such severe test as in the past eight years. The strongest indication that Nigeria will survive is the general optimism and hope with which most Nigerians are embracing the forthcoming elections. For most ordinary Nigerians, the elite discontent around the present dysfunction of the state could easily be glossed over. But then the incapacity of government has directly threatened the lives, limbs, and livelihood of most ordinary Nigerians. The rich and the poor are now united as victims of a bad time and bad governance. When the poor quality of governance translates directly into insecure lives, lost jobs, dangerous neighborhoods, declining income and general alienation, the common man becomes an active political agent with a keen interest in who becomes the next president, governor, or local government chairman. This is one reason why these elections are so consequential and popular. Curiously, then, it does appear that bad government could have a positive consequence after all. In times of good governance and general peace, order and prosperity, fewer citizens get actively interested in matters of politics and elections. Voter registration as a percentage of the population is usually low. Voter turnout is low as well and partisan political enthusiasm and participation is relatively low. But in a bad time and place when it all seems that the only credible salvation from adversity and hardship is in a change of political leadership, even the lowest common denominator of citizenship becomes partisan and engaged. At the beginning of the current political season, well over 100 Nigerians expressed interest in vying for the office of president. Even as we write this, there are 18 presidential candidates in the forthcoming ballot! The Buhari administration’s unequalled record of bad governance has united the nation around the banner of urgent change. Over 93 million Nigerians are registered to vote in this election, a number that is astounding by every measure of voter demographics. Nearly every adult Nigerian is engaged in the political process in one way or the other. Similarly, most people are anxious about the outcome of the elections for the same set of reasons. Most people desire a leadership that will end the prevailing hard and uncertain times. Adversity has its uses. Happily, therefore, the popular eagerness to change the quality of government through the ballot box is a plus for the nation’s growing embrace of a democratic culture. Nigerians are not just clamoring for change but rather the populace now believe that only democracy can usher in the kind of change that they desire. This is the strongest explanation for the massive interest in the imminent election and its outcome. A close observation of the campaigns that are about to wind up reveals the changing mood of the electorate. There seems to be a perceivable movement away from strict partisanship followership towards a ‘movement –based’ political followership. The movements are fuelled by the common adversities that the people face. Add to this the predominance of the youth bulge as the most consequential political force of the moment and the future. The expectations of the youth and those of the older generations from these elections are however divergent. While the older generations are desirous of the return of order and peace with some prosperity, the youth want a new nation in which their expertise and participation can add value to the management of public affairs. Above all they want a nation in which they can compare

President Muhammadu Buhari

As a direct testimonial to the serial bumbling of the outgoing administration, the nation that is about to go to the polls is beset with myriad problems and crises. They hardly need further rehashing. These range from perennial fuel scarcity to comprehensive insecurity, spiralling poverty, institutional decay, and unprecedented disunity. At no other time in our national history has the survival of the Nigerian nation been put to such severe test as in the past eight years.

their fortunes with those of their opposites in other countries. The internet age and advances in communication, information and transportation have created a world in which the expectations of youth in Beijing. London, New York, and Lagos are now fairly identical. The forthcoming election is therefore about meeting both local and global expectations of our citizens and the rest of the world for whom Nigeria’s 200 million plus population is a significant percentage of the global population. The success of democracy in Nigeria is important not only for Nigerians but for the rest of humanity. This is the basis of hope in the forthcoming elections. But even in signaling hope, the forthcoming elections are set against a background of the consequential problems in the Nigerian environment that could hinder the smooth conduct of the elections. Against the background of the prevailing insecurity across the country, fears remain that elections may be interrupted in parts of the country. In the southeast, for instance, repeated attacks on INEC facilities and personnel in Imo State have raised fears that the elections may be interrupted by violence and heightened separatist agitations. Of course, IPOB, the lead separatist group in the zone has issued a statement absolving itself of the threat to the elections. Similar fears have been expressed about parts of the north like the northeast where remnants of Boko Haram and ISWAP still constitute a security concern. The troubled states of Zamfara, Kaduna, Katsina and Niger remain places of high security interest. The possibility that terrorists and bandits in these areas could be determined to disrupt the elections is a matter of course. In recent weeks as well, embarrassing hiccups in the nation’s essential systems have crept into play and could imperil the elections. An avoidable nationwide fuel scarcity has crippled energy supplies in most parts of the country. It is hoped that renewed initiatives by the NNPC and a new government task force headed by the president will ease the scarcity in time to allow for hitch free elections. Similarly, a badly bungled currency change exercise has virtually crippled the national economy. A severe scarcity of cash in the system has adversely affected the lives of citizens and businesses. In addition, widespread discontent about the currency change crisis has threatened an already fractious national security landscape. For hitch free, free and fair elections, the hiccups associated with this exercise need to be quickly cleared up. Taken together, this wide range of circumstances in the national social and economic environment are enough to truncate the best intentions of those who have designed and marketed an orderly democratic transition through a free and fair election. And the possibility of botched elections would open a range of undemocratic possibilities in a bid to ensure national survival and collective security. All informed assessments of Nigeria’s chances with this month’s elections have never failed to factor in undemocratic interventions in government if the elections do not go well. There are credible fears about the outcomes of the elections. This is based on the possible complications that could arise from the vdery configuration of the major contestants for the presidential elections. First, for the first time in our post military partisan politics, the three top contenders represent an unconscious replay of Nigeria’s tripodal ethnic equation. Tinubu from the Yoruba southwest; Atiku from the perennial Hausa Fulani north and Mr. Peter Obi who gatecrashed to the top of the race is the unexpected Igbo man flying the most nationalistic and detribalized flag. By accident or design, this representation puts on display the familiar stock assumptions of Nigerian politics. Each of them therefore comes with a baggage of deficits, unstated assumptions and supporting attributes. Secondly, the three candidates come with an interesting mix of religious profiles and undertones. Mr. Atiku Abubakar is an undisguised northern Fulani Muslim. Mr. Tinubu is a Yoruba Muslim with a Christian wife parading a Muslim-Muslim ticket with Mr. Kashim Shettima, a Kanuri fellow Muslim, as his running mate. On the other hand, Mr. Peter Obi is an unadulterated Igbo Christian, an unrepentant Roman Catholic. This mix and match of backgrounds of faith and ethnicity is perhaps representative of the Nigerian diversity. The campaign has been all about each of the candidates proving that they can transcend their ethnic and regional identities to be more Nigerian than the others. But the combination comes packed with multiple electoral and political permutations, possibilities, and advantages. Thirdly, this is the first time in the post military political era that the presidential race is not featuring a war time military hero or general. Therefore, it is the track record of the candidates in previous elective public office rather than the myths of military and battlefield heroism that is being invoked in marketing them to the Nigerian electorate. To that extent, none of them can frighten us with tales of war time leadership and sometimes dubious heroism. Even if the elections go well, there remains a fear about the outcome and the possibility of post-election upheaval. The configuration of backgrounds and loyalties among the three major contenders for the presidency leaves room for contentious outcomes. If the ailing Mr. Tinubu wins the election with his Muslim-Muslim ticket, there remains a fear that the Christian population of the south could rise against his victory on religious grounds. His Aso Villa Continued on page XI

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * BENNETT OGHIFO Trained in news writing by Reuters Foundation at Rhodes University, Grahams Town, South Africa, Bennett Eyituoyo Oghifo holds a bachelor's degree in English and master's in public administration from the University of Benin and a Post Graduate Diploma in Mass Communication from the University of Lagos. Oghifo is a fellow of Leadership for Environment and Development, (LEAD International), a global network supported by the Rockefeller Foundation, and a member of Africa Association of Science Journalists.

What the Candidates Have Ignored BY BENNETT OGHIFO

n 2030, about seven years from now, the transition to the use of energy from renewable sources such as wind or solar from the use of fossil fuels (oil and gas) would have started. Yet, that’s where much of Nigeria’s wealth is generated. As that diminishes, there will be a reduction in the development of the technologies that enable the use of fossil fuels. But a few days to the crucial presidential election, it is obvious that environmental issues are not high on the agenda of those who seek to be president of Nigeria from 29th May. Besides trading in fossil fuels, Nigeria uses it as a source of energy to generate the meagre power that is supplied to homes and factories in the country. But this is no longer sustainable because, as scientists have determined, it contributes to the production of carbon that causes global warming/climate change. According to climate experts, humanity has until the year 2030 to stop the continuous global warming of the planet. Failure to achieve this, they warn, will cause "irreversible effects" of climate change — more super-typhoons, flood, and wildfire. Scientists and politicians have for years argued that the climate battle will be won or lost in the next decade. The Intergovernmental Panel on Climate Change (IPCC) has said that global emissions must be halved by 2030 and reach net zero by 2050 to avoid climate catastrophe. Net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance, according to the United Nations Climate Action. It is noteworthy that Nigeria and other developing countries, particularly in Africa, contribute very little to global warming but they are worse hit by climate-induced disasters. For instance, experts stated that “Despite recent increases, in 2019, Least developed countries (LDCs) were estimated to account for about 1.1% of total world CO2 emissions from fossil-fuel combustion and industrial processes – the main sources of greenhouse gas emissions globally. Even in per capita terms, LDCs' CO2 emissions barely reach 9% of the world's average.” This forms the basis of the demands of developing countries for the rich nations that are the main emitters to bear the cost of energy transition and to pay for loss and damage, which is described as reparations for impacts that are difficult to adapt to for vulnerable countries like Nigeria. For instance, the devastation caused by the flooding in October 2022. Annually, all Parties to the UNFCCC gather to discuss and decide on the actions required/Nationally Determined Contributions (NDCs) to bring down greenhouse gas emissions known as ‘mitigation’, make adjustment to economic, social, and ecological systems to cope with the impacts of climate change, known as ‘adaptation’, and reparations for impacts that are difficult to adapt to for vulnerable countries like Nigeria, known as ‘loss and damage’. Loss and damage, one of the most pressing issues of COP 27, was officially accepted as an agenda item for the biggest annual climate change congregation. This is the first time that loss and damage is on the official agenda of a UNFCCC COP. The loss and damage agenda item were being pushed by developing country negotiators, especially from small island states, for the past year since COP 26 in Glasgow. The Nigerian government in its Nationally Determined Contributions proposed a commitment “to reduce Greenhouse gas Emission by 20% unconditionally and 45% with international support and has finally developed and finalised the Sectoral Action Plan (SAP) for the implementation of the NDC in the key priority sectors; Energy; Oil & Gas; Agriculture & Land use; Power; and Transport. Interestingly, COP27 took place in a year when several countries were ravaged by multiple climate-induced extreme weather events, particularly flooding in Nigeria that wrecked infrastructure and claimed many lives.

UN Secretary-General, António Guterres

it is imperative for all the presidential candidates to pay particular attention to the global negotiations and resolutions. Thus, they must perish the thought that they can act independently without enormous consequences to the Nigerian economy in the years ahead. The thought that “it is not going to happen during my watch” should not cross any of their minds

These events, most of which have been partly attributed to global warming, affected both developing and developed countries. Unlike the developing countries, developed countries have the finance and technologies to cope with the consequences. Developing countries need financing, technology and support from developed countries for mitigation, adaptation and addressing loss and damage. President Muhammadu Buhari and leaders of other African nations in the African Union, as well as those of other developing nations at COP27 negotiated what type of assistance they can receive from developed countries and how soon. For instance, at COP15 in Copenhagen in 2009, rich nations made a pledge to channel US$100 billion a year to less-wealthy nations by 2020, to help them adapt to climate change and mitigate further rises in temperature. These nations contribute little or nothing to global warming, but the developed countries are yet to honour their $100 billion pledge. There is a shortage of about $17 billion, according to a report released in July 2022 by the Organisation for Economic Cooperation and Development (OECD), an intergovernmental body made up mostly of developed countries. The OECD said it based its assessment on reports from the wealthy nations themselves. They contributed $80 billion in climate finance to developing countries in 2019, up from $78 billion in 2018. Most of this money came from public grants or loans, transferred either from one country to another directly, or through funds from multilateral development banks (MDBs). A smaller amount is private finance that the public money is said to have mobilised, such as loan guarantees and loans given alongside public funds. In September 2022, the World Bank said it disbursed $31.7 billion as climate financing for the 2022 fiscal year with Nigeria receiving $700m for an Agro-Climatic Resilience in Semi-Arid Landscapes Project to develop 20 watershed management plans covering the Northern part. Climate change, according to the World Bank, is causing severe water stress in Nigeria, causing droughts to increase in frequency and intensity. “This affects Nigeria’s economic growth – it could cost the country as much as 30 per cent of its GDP by 2050, affecting the livelihoods of millions of households, worsening food security and livelihoods, and increasing the risk of violent conflict.” President Muhammadu Buhari, while addressing participant at COP26, demanded for financing and technology from developed nations to enable Nigeria to decarbonise and tackle the climate crisis, as well as transition to cleaner energy. He made the same point at Glasgow in 2021: “It begins with transitioning to cleaner but consistent energy production. Fossil fuel power generation that can provide electricity 24 hours a day in all conditions can be re-tooled to be greener through carbon capture and the conversion of coal and heavy fuel oil power stations to biomass.” So, it is imperative for all the presidential candidates to pay particular attention to the global negotiations and resolutions. Thus, they must perish the thought that they can act independently without enormous consequences to the Nigerian economy in the years ahead. The thought that “it is not going to happen during my watch” should not cross any of their minds. Unfortunately, what some of them have said so far is that they would use every fuel available, including coal, which according to scientists is in the frontline of fuels oozing carbon dioxide that is implicated in global warming. Besides, it has been agreed that no new coal fired plant will be built, while existing ones will be shut gradually. It is also important to carefully review the advice of the Managing Director of the International Monetary Fund, Kristalina Georgieva at the World Economic Forum in Davos, Switzerland in January, this year, about using a mix of energy sources for industrialisation in the years to come with a transition plan, stating that “if Nigeria succeeds, the whole of Africa will succeed.”

Hopes, Impediments and Fears (Cont'd) based traducers could also engineer a rejection of his victory for all manner of reasons. Widespread triumphalism among his devotees in the southwest could grate badly on the feelings of other nationalities. An Atiku Abubakar victory would in the same vein meet with a faith-based series of protests. Against the backdrop of Mr. Buhari’s jihadist antics, the fear that another Fulani Muslim president could deepen existing fears of sectional hegemony and herdsmen violence may spark pan-southern protests and a violent rejection of the outcome of the elections. On the other hand, a surprising Peter Obi victory would be the most tectonic outcome of the 2023 presidential election. An Obi victory would unsettle some of the assumptions on which the Nigerian federation has existed in the post-civil war era. An Igbo man as president of Nigeria would unsettle the political, security and even psychological comportment of the Nigerian state and society. Christians would rise triumphant just as the Igbos would feel a new sense of inclusion in the Nigerian federation 53 years after an unfortunate civil war. That outcome could produce unintended resistance and even violent

A severe scarcity of cash in the system has adversely aﬀected the lives of citizens and businesses. In addition, widespread discontent about the currency change crisis has threatened an already fractious national security landscape.

protest in parts of the federation since the fear of Igbo ascendancy is one factor that has continued to unite the rest of Nigeria’s ethnic nationalities. For the youth and most urban educated Nigerians, that would perhaps be the most desirable outcome of the forthcoming presidential election. A feeling of real change is likely to sweep through the nation as most people have become enamored of Mr. Obi’s gospel of a new Nigeria in which power is returned to the people. The forthcoming election is perhaps the greatest test of Nigerian’s resilience as a nation. It will test our capacity for mutual tolerance. It will also test our readiness to embrace the full implications of a democratic culture which requires that those who win must win on behalf of all Nigerians. The burden of managing the outcome of this consequential election will test the will of the incumbent Buhari administration in statesmanship. As a soldier, President Buhari must face up to his last duty as a leader: to hand over a united nation to a successor in a painless transition from one elected government to another through a credible democratic process as it was with his ascension in 2015.

XII

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * WAZIRI ADIO is the founder of Agora Policy, an Abuja-based policy think tank. He had stints as the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), THISDAY editorial page editor, special adviser to the senate president, communication specialist at UNDP etc. He obtained his ﬁrst degree in Mass Communication from the University of Lagos, a master's in journalism from Columbia University and another master's in public administration from Harvard University, where he was, at diﬀerent times, a Fellow of the Neiman Foundation for Journalism, and an Edward S. Mason Fellow in public policy and management.

Preparing for the Morning After BY WAZIRI ADIO

ith a few days left to the commencement of the 2023 landmark general election in Nigeria, the consensus among pundits and keen political observers is that the result of the February 25th presidential poll will show a keen contest among three or four candidates. That will make this election cycle the most competitive since 1999. If things go as projected, this will be a major shift in and a toast to the health and maturity of our Fourth Republic. But the projected tightness of the race is a double-edged development, worth celebrating and risk-proofing at the same time. This duality is worth exploring. First the exciting and commendable part. Since 1999, Nigeria has effectively been a multi-party democracy only in name. The contest has largely been between two political parties, with the gaggle of other parties (sometimes numbering more than 80) merely making up the numbers. You can call them paper parties. In the five election cycles between 2003 and 2019, the two leading parties between them cornered between 86.26% and 98.92% of the valid votes. In 2019 for example, the two dominant parties snapped a combined total of 96.82% of the votes, leaving the remaining 71 other parties that fielded presidential candidates in that election to scramble for a measly 3.18% of the votes. The candidate that came third overall polled only 0.40% of the valid votes cast, and even that could have been because his party sounded almost like one of the dominant parties. The highest proportion of the votes a third party has ever garnered in the presidential elections since 1999 is 7.45%. This record was set by Alhaji Atiku Abubakar in 2007 when he was the presidential flagbearer of the Action Congress of Nigeria (ACN). Some scholars like Thomas Carothers have a name for the divergence between multipartyism on paper and in reality. They call it feckless pluralism. The projected competition in 2023 thus will make our electoral system truly more plural and will further expand options for voters. This is good for our electoral politics and for our democracy. It is worth stating quickly that there is nothing wrong with having just two parties or with a multi-party democracy with two dominant parties. You can have real alternatives and good competition in a two-party system. In actual fact, most established democracies have two dominant parties that regularly alternate power. The issue with our current two dominant parties is that they rarely offer voters much to choose from in terms of ideas or personalities, they are populated by the same criss-crossing politicians, and they run on the same philosophy of patronage politics. And most fundamental, they are too entrenched and too conceited to see the need to constantly read the room, reinvent themselves or embrace reform. It is thus easy to see them as two damaged peas in the same rotten pod. The possibility of a third force or the viability of candidates running on previously obscure or relatively new parties is thus a needed wake-up call for the two leading parties and a necessary shock to the system. I suspect that no matter how this election goes, we will still have two dominant parties, even if those parties are not the current leading ones. I say this because I believe that the experiment started by General Ibrahim Babangida (when he forced two parties on the country during the aborted Third Republic) has become a major part of our political culture. Based on the dynamics of the coming elections, my considered view is that the era when political parties take the voters for granted and do so without consequences is coming to a necessary end. Even if either of the two parties wins the elections, I want to believe they have seen the bold writing on the wall. This thus will be a major win. And should be seen as another major marker of progress in the Fourth Republic, alongside other key milestones which include: holding out for more than two decades, featuring more than two consecutive elections in a republic and recording two term-barred presidents, three transitions and the defeat of at least a ruling party. The multiplication of options for the voters is also a potential incentive for better governance. But every good thing has a potential downside. The flip side of the expected keen contest is that the winner

Bola Tinubu

Atiku Abubakar

The issue with our current two dominant parties is that they rarely oﬀer voters much to choose from in terms of ideas or personalities, they are populated by the same criss-crossing politicians, and they run on the same philosophy of patronage politics. And most fundamental, they are too entrenched and too conceited to see the need to constantly read the room, reinvent themselves or embrace reform.

of the February 25th election may be elected by a minority of those who vote on that day. Between 1999 and 2019, the winning candidate secured between 53.96% and 69.60% of the valid votes. This time around, it is likely that the winner will secure between 30% and 40% of the valid votes. This will be within the range of the percentage of votes scored by the losing candidates in the previous six elections (31.97% to 44.96%), save for 2007 when the candidate that came second got only 16.66% of the votes. (Of course, everyone—including the winner of the election—agreed that the 2007 poll belongs in the temple of infamy.) Ordinarily, this likely turn of events should not be a cause for concern as we operate the first-past-the-post voting system. Apart from meeting the spread requirement of securing 25% of votes cast in 24 states and FCT, whoever scores the highest number of votes is the winner, even if the margin of victory is just one vote. In any case, most of the registered voters rarely turn up on election day. (Average voter turnout over the previous six election cycles is 51%, a range of between 69% in 2003 and 35% in 2019). But a major shift may happen this time around (and this is not just about turn-out figures). For the first time in this republic, we are likely to see a situation where the elected president may not be the preferred candidate of the majority of those who vote on election day. This will be on account of good showing by the other candidates who are likely to split the votes of the majority of voters. This scenario takes us back to 1979, when we held our first presidential election. That election remains our most competitive multiparty election till date. In the presidential election held on 11 August 1979, the five political parties of that era polled as follows: National Party of Nigeria (NPN), 33.77%; Unity Party of Nigeria (UPN), 29.18%; Nigerian People’s Party (NPP), 16.75%; People’s Redemption Party (PRP), 10.28%; and the Great Nigeria People’s Party (GNPP), 10.01%. Though UPN unsuccessfully went to court to challenge the election on account of the spread principle (the famous 12 2/3 saga), NPN’s Alhaji Shehu Shagari became the president even when 66.23% of the voters did not vote for him. The game is the game. Why should a repeat of this possibility raise any eyebrow? My simple answer will be: because the contexts are different. The political climate in Nigeria today is more heated and more fragile than it was 44 years ago. The lines of division are sharper now, certain factors that didn’t register much on the political/electoral scales are now more salient, and our country is facing its most security challenges in decades. Based on the way the competition is set up in 2023, most voters may include key ethnic, regional, religious, class and demographic groups that are hurting or feel alienated already. The outcome of the election may deepen the sense of hurt and alienation of some of these key constituencies and may negatively impact national unity and security, among others. While it may be too late in the day to prevent this from happening, it is not too early to start preparing for that possibility. Interestingly, 1979 offers some insight in practical and reasonable politics. NPN had a different challenge back then. It didn’t have the parliamentary majority needed to get the ministers approved and key legislations passed. For example, NPN had only 36 or 38% of the 95 senate seats while UPN, NPP, GNPP and PRP had 28, 16, eight and seven seats respectively. NPN formed an accord with NPP and ceded to NPP some ministerial positions, the Deputy Senate President position (Senator John Wash Pam), and the Speaker of the House of Representatives (Chief Edwin Ume-Ezeoke) even when NPP had only 78 of 449 House members. If the winner of the 2023 elections gets elected by a minority of voters as I have sketched out here, he may or may not need to strike such a political bargain. But he will need to actively reach out to and assure the hurting and alienated majority that might have rejected him at the poll. His most important job will be national healing, accommodation, and reconciliation. Next in scale will be managing expectations and preparing the country for the pains of necessary adjustments.

(*This is an edited version of earlier piece in a three-part series on the 2023 elections published recently in Adio’s column on the back page of THISDAY)

XIII

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * MONDAY PHILIP EKPE Currently an adjunct lecturer at the University of Abuja, Ekpe was at various times editorial page editor, features editor and general editor at THISDAY. A brilliant writer with special interest in human stories, Ekpe obtained his ﬁrst degree in English and Literature from the University of Benin and a master's in Communication and Language Arts from the University of Ibadan where he completed his Ph. D in 2015.

A Battered Populace BY MONDAY PHILIP EKPE

oing by today’s standards, an advert published in the New Nigerian Newspaper of 2nd August 1983, and which circulated on the social media recently, doesn’t offer much in terms of aesthetics and diction. But that becomes inconsequential when the black and white ad is weighed against its historical relevance and symbolism. “Shagari for all seasons” leads the copy whose body includes phrases that capture some of the yearnings of the people at the time. It reads: “Programme for ’83: Free qualitative education guaranteed plus. More houses for the masses. Industrial transformation of Nigeria. Selfsufficiency in food production. Effective medical services plus. Electricity and water for every town and village. Vote Shehu Shagari, the guardian of democracy!” The logo of the ruling National Party of Nigeria (NPN) is placed strategically in four places. The message is also complemented by a passport of the meek-looking candidate of the party, a former teacher from Sokoto, Seat of the Caliphate. One major significance of the publication is that even four decades after, it presents some of the country’s pressing needs and part of the common promises still being thrown at voters. Suffice it to say that Shagari went on to win that election, the celebration of which was short-lived as his government ended abruptly via the military intervention led by the then Major-General Muhammadu Buhari. Central to the rationale given by the junta for the putsch was that the civilians had failed in their pledge to operationalise the tenets of democracy and better the lives of the people. The fate of that era notwithstanding, I have fond memories of some aspects. The leading lights then like Shagari, Chief Obafemi Awolowo of the Unity Party of Nigeria (UPN), Dr Nnamdi Azikiwe of the Nigerian Peoples Party (NPP), Mallam Aminu Kano of the Peoples Redemption Party (PRP), Alhaji Waziri Ibrahim of the Great Nigeria Peoples Party (GNPP) and Dr Tunji Braithwaite of the Nigerian Advance Party (NAP) were respectable men who led organisations with identifiable values and ideologies. I happily served as a polling unit agent for UPN in 1983 in my town because of its free education agenda even though the party had no strong presence there. As far as my memories go, the flaws of that period did not include the transactional, ravenous politicking we’re faced with today. Corrupt practices had not become this institutionalised and deep. There is hardly any socio-political and economic variable then that ranks anywhere near what holds today. Clearly, times have changed substantially and most of the dramatis personae who call the shots now in our polity exhibit less lofty ideals than their forebears in the Second Republic, in my opinion. Somehow, the politicians in past dispensations managed to maintain some decorum, even with their own imperfections and the unique challenges of those days. Now, the people who are at the receiving end of the actions and inactions of politicians are yet to demonstrate the kind of electoral sophistication that’s expected of citizens of a nation whose democratic credentials can’t now be described as nascent. Our political leaders understand this flaw and use it to enhance their own fortunes, oftentimes, by appealing to the fault-lines and primordial sentiments that keep the people divided at critical moments. At such times, many citizens become oblivious to a simple logic that adverse conditions like poverty, unemployment, underdevelopment, and unsafety do not have states of origin and are, therefore, not exclusive to any part of the country. They may be more pronounced in some places than others, but they’re all united in subduing the citizenry, particularly the less privileged. The dilemma of Nigerians doesn’t stop there, sadly. An average voter bears some self-sabotaging mindsets: “I don’t want to waste my vote,” meaning, he votes for whoever he thinks might win, not necessarily his convictions. “I’m for anyone who can ‘drop’ something,” meaning, he isn’t sure of what he’ll gain from the candidate post-election, so he takes any handout that comes his way. “Whether I vote or not, they’ll put whoever they want there,” meaning, having witnessed ballot frauds over time, a recourse to pessimism becomes blissful. “Only God can help us,” meaning, even in areas that demand their own will and conduct, many Nigerians hand their responsibilities to God. But cynicism, nonchalance and ignorance can only prolong the redemption date of a country in dire need of rebirth. Take the economy, for instance. According to World Bank’s December 2022 Nigeria Development Update (NDU), the nation is in a precarious economic situation with heavily reduced growth predictions. From the organisation’s findings, we can only make reasonable progress if maximum efforts are directed towards reforming three principal areas namely, macroeconomic structures and administration, functional and collaborative private sector participation, and effective policies and programmes in favour of the poor. Those recommendations came against the backdrop of the bank’s damning report earlier in March that year. The 2022 World Bank Nigeria Poverty Assessment revealed thus: “Given the effects of the crisis (Covid19), the poverty headcount rate is projected to jump from 40.1 percent in 2018/19 to 42.0 percent in 2020 and 42.6 percent in 2022, implying that the number of poor people was 89.0 million in 2020 and would be 95.1 million in 2022. Taking the difference between these two scenarios, the crisis alone is projected to have driven an additional 3.8 million Nigerians into poverty in 2020, with an additional 5.1 million living in poverty by 2022.” Unfortunately, those negative estimations have even been exceeded, confirming that our country which hosts the largest number of extremely

Customers at a bank premises waiting to exchange their old notes for new ones.

Now, triggers for mass action are visible everywhere. The recurring and stubborn energy issues, the nation’s rapidly dwindling macro and micro economic proﬁles, despicable living standard of the majority, fast fading hopes for tomorrow especially among young people, growing insecurity, and palpable threats to nationhood don’t show signs of abating.

poor people on earth requires a more pragmatic leadership to survive and thrive. And there’s no better way to produce that in a democracy than using the power of the ballot. Unfortunately, voter apathy remains an enduring hurdle in Nigeria. The Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, made this point in February 2022, a concern he still expresses. According to him, “Over the last two electoral cycles, including off-season elections, voter turnout across the country hovers around 30 to 35 percent. While a few elections had higher percentages, some recent by-elections recorded as low as 8.3 per cent voter turnout in urban and constituencies of over 1.2 million registered voters located in the nation’s most densely populated cities. This unfavourably compares to the average voter turnout of 65-70 per cent in other countries, even in the West Africa region.” Change in this regard is, without doubt, no longer optional. Attitude counts a whole lot. Nigerians must rise above past disappointments, deliberate lies from office-seeking and serving politicians, antics of political predators, and the audacity of those bent on perpetuating the disillusionment and misery of the people. We can be inspired by marble-words on voting from some of America’s iconic political and civic leaders. Abraham Lincoln, late former President of the United States: “The ballot is stronger than the bullet.” Martin Luther King, Jr., late US civil rights leader and Nobel Peace Prize laureate: "Our lives begin to end the day we become silent about the things that matter.” John Lewis, late civil rights activist and member of the US House of Representatives: “The vote is precious. It is the most powerful non-violent tool we have in a democratic society, and we must use it.” And, Barack Obama, former President of the United States: “There’s no such thing as a vote that doesn’t matter. It all matters.” The irony of our situation is that the political class is more united than the people realise. The bond among Nigerian politicians across ethnic, religious, and socio-political persuasions is, truly, incredible but understated. Whenever their personal interests are threatened, they can sacrifice anything, including those of their constituents and even the entire country. Underrating their entrenched self-interests and elite camaraderie is partially responsible for the continued subjugation of the generality of the people. Here’s a warning to politicians, however. The seeming helplessness and docility of Nigerians may not go on forever. The long-standing divisions that weaken their capacity for collective action may also have been overrated. The 2020 EndSars protests, dismissed in some quarters as powered and prosecuted by young people from just one part of the country, is grossly misanalysed. But for the infiltration by sponsored thugs, they would have spread throughout the federation with unimaginable consequences. Now, triggers for mass action are visible everywhere. The recurring and stubborn energy issues, the nation’s rapidly dwindling macro and micro economic profiles, despicable living standard of the majority, fast fading hopes for tomorrow especially among young people, growing insecurity, and palpable threats to nationhood don’t show signs of abating. These existential vicissitudes can pull down the walls erected in the psyche of unsuspecting citizens that have undermined the much-needed synergy to dismantle public exploitation and stagnation. It’s not too difficult to discern that taking the people for granted may no longer be a wise pastime for political office seekers and holders. One can easily perceive wounds in the souls of most Nigerians. Some of them find expression via the internet; others on streets; and, also, sundry other places. But whether the abundant angst in the land will be weaponised at the polls for meaningful purposes and surprises is conjectural.

XIV

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * PAUL NWABUIKWU A pioneer THISDAY Editorial Board member, Paul Nwabuikwu, who has also served on The Guardian’s Editorial Board, is a respected public intellectual with decades of experience in journalism, advertising, and public communication. A winner of the DAME Awards for Informed Commentary, Nwabuikwu served twice as Special Adviser to former Finance Minister and current DG, World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala. Nwabuikwu holds a ﬁrst degree in Mass Communication from the University of Nigeria, Nsukka and MBA from the University of Jos.

Divided They Stand… BY PAUL NWABUIKWU

henever any of the two chambers of the National Assembly – Senate or House of Representatives--is in session with the full complement of the lawmakers in attendance, the diversity of Nigerian culture and fashion is on full display. The annual presentation of the budget by the president is a prime example of such events. On one side of the chamber, you spot the flowing babarigas and agbadas of the far north and the Southwest. On the opposite side, the regal attires of the many Benin-influenced sub-groups as well as the Cross Rivers/Akwa Ibom, with cascading bead work, hold sway. The Igbo Isi-Agu outfits in their many incarnations are also well represented. So are the distinctive black-red and blue-white attire of the Tivs, Idomas and related groups. This is, of course, a small and very unrepresentative sample. There are many others. Nigeria is blessed with a dizzying variety of ethnic groups with estimates ranging from 250 to over 600, depending on the source. And each one comes with its own language or dialect, history, culture and, of course, unique traditional dressing – as the turnout in the National Assembly regularly demonstrates. We generally view this variety of cultural expression as a positive, a celebration of “unity in diversity”, a confirmation that Lugard’s experiment is functioning properly despite many challenges. The old National Anthem agreed with this view, quite emphatically. “Though tribe and tongue may differ, in brotherhood we stand”, it confidently asserted, daring anyone to disagree. The current anthem concurs. While leaving problematic, un-woke word “tribe” out, it claims that we are “one nation bound in freedom, peace and unity”. But there’s of course the flip side. Diversity can also be a negative when it becomes a metaphor for the serial failure of a country to come together, to coalesce and to blend into one indivisible whole. The patriotic assumption that the country’s diversity is always positive is challenged by the clear facts of our history which have shown, repeatedly, that we are more diverse than united. A patchwork of fabrics and colours is only useful when the components are part of a harmonious design. As Nigeria’s history and present circumstances show, we are far from a harmonious whole. This is amply demonstrated in the country’s weak elite consensus which is so poor that the two words might well be described as an oxymoron. And under the outgoing Buhari administration which has conducted the affairs of state with the same insular, parochial, and often divisive mindset that defines the personality of the head of government, there is very little consensus within the country’s elite on what the national ethos and core priorities are or should be. In fact, huge swathes of the country’s history are in contention and there is serious disagreement about who the national heroes are or should be. Murtala Muhammed, Chukwuma Nzeogwu and even Sani Abacha are, depending on which part of the country the Nigerian assessing their legacy comes from, are either great heroes or irredeemable villains. While that may not be entirely strange Americans from the north and south view the confederacy, civil war, slavery and race relations through very different collective prisms – Nigeria’s case is worse because there is also very little consensus on even the most mundane priorities that should be taken for granted in a 21st century democracy beset by huge socio-economic challenges. Apart from a few notable exceptions, our leaders and elites generally prioritize the wrong things. As respected scholar and former Independent National Electoral Commission (INEC) commissioner, Lai Olurode put it: “Nigerian elite focus on irrelevant issues of who governs and ethno-religious issues of identity politics… peripheral matters get elevated to the front burner whereas those issues that are essential to effective governance get buried under the rubbles of politics.” This disconnect between what may be described

Senate President Ahmad Lawan

Speaker, House of Representatives, Femi Gbajabiamila

The patriotic assumption that the country’s diversity is always positive is challenged by the clear facts of our history which have shown, repeatedly, that we are more diverse than united. A patchwork of fabrics and colours is only useful when the components are part of a harmonious design. As Nigeria’s history and present circumstances show, we are far from a harmonious whole.

as our culture of “mechanical politics” and urgent national issues is a symptom of weak elite consensus. Because there is no larger, cohesive shared vision of the essence and direction of the Nigerian project, all that is left is politics in the most shallow and unprogressive sense. But before we proceed further, what exactly is elite consensus? The concept flows from the elite theory of power and governance which the Encyclopedia Britannica describes as “a theoretical perspective according to which a community’s affairs are best handled by a small subset of its members”. It adds: “in modern societies such an arrangement is in fact inevitable”. Elite theory has many sub-theories, dimensions, and features but basically it refers to the universal phenomenon whereby a small group in society emerges to wield power that is disproportionate to their numbers. Some of them come from formal government structures in the form of people elected or appointed to public office. Others are products of informal but influential power centres such as religious groups, traditional monarchs and leaders of various stripes or other sources of recognized or organized political influence. There are academic disagreements over whether it is desirable or in society’s interest for elites, some of whom are not products of the democratic process, to wield so much power. But it is safe to say that elites are inevitable in every society, for good or bad. Even under communist rule in Russia, POLITBURO, and other elites with a distinctly different lifestyle from the general population, residing in opulent dachas, emerged soon after the Revolution. In Nigeria, popular understanding of who the nation’s elites is captured in the concept of “Nigeria’s rulers”, a phrase which is very common in political circles. This refers to the conclave of super powerful persons from different parts of the country who take some of the most important political decisions in the country, those behind the “magic” that appears regularly in the headlines. They include current and retired top military men, key traditional rulers, select ministers and heads of critical agencies, influential advisers close to these persons and other well-placed confidants whose access and counsel places them in the most exclusive political circles. Though there are semi-permanent key members who remain influential over decades, a significant proportion depart regularly through a revolving door when they lose their elective or appointive positions. Former military leader, Ibrahim Babangida who regularly holds court at his famous mansion in Minna is perhaps the most consistent visible representative of the top echelons of the Nigerian political elite although age and the disruptive emergence of Buhari, the man he kicked off the saddle in 1985, as president may have blunted his influence. Sadly, in the run up to this year’s presidential and legislative polls, amid the multiplicity of challenges confronting the country, Nigeria’s elite remains divided on key issues. Behind the patriotic speeches of the contestants, there is no evidence of broad, pan-Nigerian elite consensus on key national priorities. Take infrastructure. The same old regional, ethnic, and religious sentiments continue to drive our politics at the expense of critical issues like fighting poverty, achieving a national network of critical infrastructure like ports and rail system that blends the relative advantages of states and regions with defined national socio-economic goals. Rather, infrastructural development is still perceived primarily in terms of “ownership” by constituent sub-national entities rather than a national enterprise with national objectives. The hope is that these elections will produce a president and other key elected and appointed persons in key positions with a more nationalistic mindset than the current players and that they will help to boost and drive national elite consensus away from narrow primordial considerations towards a deeper, development-oriented, pan-Nigerian direction. For Nigeria to start achieving its much-vaunted potentials, our elites must talk less about political power and contracts and more about the issues that will really make a difference in the most critical areas.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

* * * * * * * * * * * * * * * * * * * * * * * * SPECIAL EDITION * * * * * * * * * * * * * * * * * * * * * * * AISHA SHUAIBU A business consultant with a decade of experience in brand and strategic management, Ms Aisha Shuaibu is Managing Director of Waﬄe Way in Abuja, and President of SWA Sports, an initiative that is promoting local talents in kickboxing, wrestling, and Taekwondo. Ms Shuaibu obtained her B Sc in Business Studies from the University of Bedfordshire, Luton in the United Kingdom and her Masters in Entrepreneurship and Innovation from Bahcesehir University, Istanbul, Turkey.

Taking Power Back to the Grassroots BY AISHA SHUAIBU

here there is crisis in Nigeria, the blame is always targeted at the federal government, where the president is deemed the source of all problems. But as responsible as a country’s president may be to the state of the nation, the other levels of government hold a chunk of that burden. In Nigeria, the 36 states and 774 local governments also bear enormous responsibilities. We hope whoever becomes the next president will push through a Constitutional amendment that will grant these local governments the needed autonomy to fulfil their mandates. The Local Government system is a critical tier in a federal system which is traditionally aimed at serving grassroot communities by driving developmental initiatives and exercising authority within defined areas that affect those communities. The Nigerian Constitution has outlined the functions of Local Governments as handling sanitisation, education, data collection, among other things within those communities. Subject to the proposition of the State House of Assembly, Local Governments may also be empowered to develop infrastructure like roads and hospitals. This level of government has the most measurable impact compared to the other tiers, as it deals directly with the people and their immediate needs. With only ten days the 2023 general election, it is important that there be discussions on how to improve on governance at that level. The state of our Local Governments is of national concern because politics, they say, is local and the decisions made at the top eventually lead to what is seen at the bottom. One of the many benefits of the Local Government system is in its civic engagement. The connection between the Nigerian government and the people begins at the local level, where the sense of responsibility to their immediate environment is expressed through dialogue and action. With that in mind, it is important that there is transparency when trying to earn the trust, support, and cooperation of the people. Good leaders who are disciplined and trustworthy must be a priority when considering the right ones for the job. The true test of integrity is usually identified through the management of public funds. 60% of the Local Governments’ total revenue is from the Federal Government and it is projected that the removal of petrol subsidy, working refineries and an increased cost of crude oil will contribute to the growth of the FGs income, giving local governments more to work with.

A nation that aims to produce more empowered and educated citizens must prioritise the condition of its grassroot communities. In the coming government after this election, it is expected that there will be discussions on how to improve on local government administration in Nigeria.

The Federal Account Allocation Committee (FAAC) serves as the source of the local government funds from the state in a joint account as mandated by the Nigerian Constitution. The State House of Assembly then determines the distribution of funds across the LG. In the instance of a corrupt State Government, middlemen may be placed to interfere with the distribution of the funds, weakening their Local Government and making them impotent. Institutional corruption makes its way into the system when states encroach on Local Government matters by making unilateral decisions to appoint counselors and chairmen of their choice. Despite the efforts of the federal level to deal with these issues more judiciously, it seems State Governments have just become difficult to deal with. Historically, Local Governments in Nigeria have faced many problems. Although the functions of Local Government are meant to receive no interruptions from higher tiers of government, in practice, Nigerian Local Governments often must deal with officials who get into office and enable corrupt practices. Godfatherism has fuelled these practices and enhanced the failure of LGs. Sham elections, where state governors weigh power on the state independent electoral commissions, stifle citizen participation and undercut democracy, giving room to their chosen fraudulent counselors and chairmen to sign off on funds that do not end up where they should. A possible solution is one that has been discussed for a while: Granting autonomy to Local Governments so they deal directly with the Federal Government and not the State. There must also be a strong dedication by the lawmakers at both the federal and the states to abolish kleptocracy by putting processes in place that make government officials accountable on every level, strengthening fiscal sustainability, transparency, and accountability. The disconnect between the government and the people begins at the local level. Nigerians are hardly involved in Local Government elections, a result of low awareness and campaigns by the parties. It is the responsibility of the State Governments to educate voters on their Local Government leadership. Fixing the tenure for Local Government officials by the state allows their impact to be measurable, instead of holding an election at the will of the state governor. Local Governments must work for the people first and where that is not the case, the agenda has been completely lost. The average Nigerian is the most impacted by their Local Government. A nation that aims to produce more empowered and educated citizens must prioritise the condition of its grassroot communities. In the coming government after this election, it is expected that there will be discussions on how to improve on local government administration in Nigeria.

OLUSEGUN ADENIYI Journalist, writer and former presidential spokesman, Adeniyi is a Fellow of the Nigerian Academy of Letters (FNAL) and chairs THISDAY editorial board. Author of several books, including ‘The Last 100 Days of Abacha’ and ‘Power, Politics and Death: A front-row account of Nigeria under the late President Yar’Adua’, Adeniyi holds a ﬁrst degree in International Relations from Obafemi Awolowo University, Ile-Ife and a master's in international law and diplomacy (MILD) from the University of Lagos.

Let’s Avoid the June 12 Road BY OLUSEGUN ADENIYI

here is a joke I shared several years ago on this page of a lavish society wedding after which the couple retired home to commence their honeymoon. At bedtime, as the man joined his wife and attempted to consummate the relationship, she withdrew from under the pillow a court injunction perpetually restraining the husband from claiming "all his entitlements". What made the “report” believable, as I said at the time, was that the said injunction was obtained from a court in Abuja, a city notorious for breeding judges for whom “justice” is a commodity that can be traded even on the Stock Exchange. The point here is that the judiciary is becoming a source of concern, especially in this election season, and there are undercurrents to suggest that some judges in Abuja are being primed to game the process. Available reports indicate that some politicians and their agents are working the courts within the Federal Capital Territory (FCT) to ensure either that the elections do not hold as rescheduled or that the Permanent Voter Cards (PVCs) and Card Readers are not used, knowing that without them, it would be a matter of simply writing results with all the attendant consequences for the peace of Nigeria. The good bit though is that whatever anybody may say, this election is not being fought along, and would not be lost and won because of, Nigeria’s traditional fault-lines. The lesson here is simple: For the average Nigerian politician, whether from the North or from the South and regardless of the religion he/she professes, politics is more often about the pursuit of personal interests. While June 12 may mean different things to different people, what is not in doubt is that Nigerians paid an enormous price for the contrived and prolonged crisis that held back our country from peace and progress and for a long period divided our people. Therefore, for us to avoid going back down that unfortunate road, critical stakeholders must pay attention to Abuja courts. A word, as they say, is enough for the wise!

Late M.K.O. Abiola

Instead of writing rejoinders to critics, what is required of the Supreme Court is to lead (by example) the eﬀorts to enthrone and deepen democratic ethos in our country, especially at such a critical period as this.

ENDNOTE: I wrote the foregoing exactly eight years ago on 19th February 2015, in the prelude to the general election of that year. Sadly, we seem to have learnt no lesson from the past. With all the allegations of plots to impose ‘interim government’ or instigate military coup by operatives of the ruling All Progressives Congress (APC), there are increasing fears that the general election could be scuttled. But we must remind our politicians that in the Nigeria of today, the procedures by which power is granted, renewed, or lost, at all levels of government, are regulated by laws that must be respected. If indeed there are people planning extraconstitutional ways to power, we urge them to perish such idea that can only lead our country down the abyss. Article 21 of the Universal Declaration of Human Rights (UDHR) to which Nigeria subscribes and which forms the basis of our Constitution states that “Everyone has the right to take part in the government of his country, directly or through freely chosen representatives,” and that leaves no room for any ambiguity. Those who seek to govern us can only emerge through competitive election and not through any backdoor arrangement. Perhaps for amplification, the UDHR states further: “The will of the people shall be the basis of the authority of government; this will shall be expressed in periodic and genuine elections which shall be by universal and equal suffrage and shall be held by secret vote or by equivalent free voting procedures.” In all these, the judiciary is important to the retention of our democratic order. And, as it was in the past, our courts and the men and women on the bench, are giving many causes for concerns. Already, there are tell-tale signs that some of them are being used by unscrupulous politicians. It is even more worrisome that the Supreme Court that should take the lead in the restoration of law and order is raising doubts in the minds of many Nigerians about its own integrity. Instead of writing rejoinders to critics, what is required of the Supreme Court is to lead (by example) the efforts to enthrone and deepen democratic ethos in our country, especially at such a critical period as this.

T H I S D AY

3 XVI

WEDNESDAY FEBRUARY 15, 2023

SONNY ARAGBA-AKPORE canvasses convergence of the NBC and NCC for a seamless performance

A TALE OF MULTIPLE ICT REGULATORS Elsewhere in the world, telecommunications, broadcast and the internet businesses have come under a single roof called convergence, but Nigeria still maintains multiple regulations for these services. 7KH RQO\ GLͿHUHQFH LV WKH 1DWLRQDO Frequency Management Council which warehouses spectrum and assigns same to regulators of telecommunications and broadcasting accordingly. But the reality on ground is that both the National Broadcasting Commission (NBC) and the Nigerian Communications Commission (NCC) should ordinarily converge for seamless performance like it is the standard practice in

several countries. The Stephen Oronsaye committee had proposed this merger in his reports few years ago but lack of political will is believed to have undermined the report of the committee despite its painstaking exercise where it was submitted that the NCC and NBC be merged IRU HͿHFWLYH PDQDJHPHQW RI ERWK VHFWRUV DV allowing them to run the way they are now amounts to duplication of functions, and the idea of reducing the cost of governance will be achieved in the long run. Triple play is now the standard practice in civilized world but it appears in Nigeria as anathema since jobs must be created for the boys. Triple play is achieved through convergence where telephony, the internet and broadcast media come under a single regulatory platform. Convergence is already in various climes as these countries have been managing their systems in that regard. Examples of such regulatory authorities include: 2΀FH RI 7HOHFRPPXQLFDWLRQV 2IWHO LQ WKH United Kingdom, Federal Communications Commission (FCC), Independent Communications Authority of South Africa (ICASA), National Communications Authority (NCA), among others. But while convergence remains a global best practice, Nigeria remains with multiple regulations thus trying to kill a single bird ZLWK PDQ\ VWRQHV 7KHUH DUH GL΀FXOW URDGV to tread for convergence in Nigeria especially and trying to take the route taken by global ICT players. And at a time when merging NCC and NBC remains a pipe dream, a third regulator LV LQ WKH R΀QJ JRLQJ E\ WKH SURSRVHG 1,7'$ bill before the National Assembly lawmakers. And if the Minister of Communications and 'LJLWDO (FRQRP\ 'U ,VD 3DQWDPL VXFFHHGV in his last self-appointed assignment, the National Information Technology 'HYHORSPHQW $JHQF\ 1,7'$ ZLOO EHFRPH a mega regulator submerging the Nigerian Communications Commission (NCC) and the NBC as the minister is eager to push for a QHZ $FW IRU 1,7'$ LQ WKH 1DWLRQDO $VVHPEO\ The minister had presented to the NASS D ELOO WR UHSHDO 1,7'$ $FW DQG HQDFW D

new Act whose provisions and mandates are allegedly derived from the mandates and functions in the Nigerian Communications Act 2003. Although it’s not clear what the minister wants to achieve but industry players think that if this bill sails through, it will be goodbye to the NCC Act as its mandate and UHVSRQVLELOLWLHV PD\ EH WDNHQ RYHU E\ 1,7'$ In what looked like a curious movement, a stakeholders public hearing held at the 1DWLRQDO $VVHPEO\ RQ 'HFHPEHU EXW because of its poor outing, it was adjourned to February 2, 2023. This too did not hold as it was postponed till further notice. But the minister has denied any ulterior motives for pushing the bill, even when there are very strong indications that he has deeper LQWHUHVWV IRU WKH 1,7'$ SURMHFW The minister said that both the NCC Act DQG 1,7'$ $FW ZHUH REVROHWH DQG long overdue for review due to imperatives of new technologies. While further denying any ulterior motives for his actions, he claimed he had discussions with both the Executive 9LFH &KDLUPDQ RI WKH 1&& DQG WKH 'LUHFWRU *HQHUDO RI 1,7'$ EHIRUH HPEDUNLQJ RQ WKH project and that the insinuation that he had WLOWHG KLV SRVLWLRQ LQ IDYRU RI 1,7'$ VLPSO\ EHFDXVH KH ZDV LWV '* LV XQIRXQGHG According to him, the old Acts did not address the fourth industrial revolution and emerging technologies. As he put it: ”We are talking about Fourth Generation (4G) Technology and Fifth Generation (5G) Technology today as well as digital economy. ´7KH 1,7'$ $FW ZDV VSHFLÀFDOO\ RQ Information and Communication Technology (ICT) sector, while the NCC Act dwells more on telecommunications. And there was an agreement that both Acts needed to be amended.” But what is before NASS is an amendment EXW D UHSHDO RI WKH 1,7'$ $FW DQG enact a new one. Although the minister VDLG WKDW 1,7'$ KHOG RYHU VWDNHKROGHUV· engagements before pushing forward the bill, but industry players are worried and wondering where and when such were held, even when the minister claims “I am sure NCC was involved.” The Minister was quoted as VD\LQJ ´WKH 1,7'$ $FW IRFXVHG VSHFLÀFDOO\ on the information and communication technology sector, while the NCC Act dwells more on telecommunications.” The minister’s statement is not totally true. “He is speaking about an industry where he has no exclusive knowledge. There is nothing about emerging technologies and things happening in the telecommunications industry today that some people still at the NCC did not know about 15 years ago,” one analyst reasoned. Industry players fault the minister on his claims and like stakeholders say in general terms, the Minister is being economical with the truth as reality on ground “should educate the minister that he does not have any exclusive knowledge about technologies and that the people at the NCC are well trained and attend regular refresher courses and programs from time to time.” In terms of manifest duplications of roles, 6HFWLRQ RI WKH SURSRVHG 1,7'$ ELOO OLVWV the functions of the agency that will be created and supported by the Act when HQDFWHG :LWK VOLJKW PRGLÀFDWLRQV WKHVH functions are similar with those of the NCC DV FOHDUO\ GHÀQHG LQ 6HFWLRQ RI WKH 1LJHULDQ Communications Act 2003. 7KH 1,7'$ ELOO LV DZDLWLQJ DFWLRQ E\ WKH lawmakers. Aragba-Akpore is a member of THISDAY Editorial Board

Sanwo-Olu deserves commendation for slashing transport fares in addition to distributing food packs to the vulnerable, writes KEHINDE AJAYI

CUSHIONING LAGOSIANS’ PLIGHT Things are tough in Nigeria at the moment. The major source of these hard times can be traceable to shortages of petrol and cash. With petrol scarcity comes transportation hassles, below optimal production and general hardship in the form of hiking costs of goods and services. Industries and artisans groan. &RQVXPHUV VXͿHU Amidst the present fuel scarcity, some businesses simply fold their hands and close shop. Those that survive on alternative power pass on the costs to their customers - other Nigerians - revolving the hardship. Some Shylock petrol stations that have petrol jacked

Naira swap based on a belief that the naira redesign was targeted at curbing votebuying by politicians. It is quite shameful that such thinking exists when average Nigerians are VXͿHULQJ IURP ODFN RI FDVK DQG D deplorable technology ecosystem that has stymied electronic transfer of money. Amongst these, some politicians lent their voice to support the policy, possibly aiming to attack the All Progressives Congress (APC) presidential candidate, Asiwaju Bola Tinubu. Thankfully, some state governments sued the federal government at the Supreme Court and obtained an order that canceled February 10 as deadline to quash the old notes till the case was deliberated upon. This move bought more time for and brought a temporary reprieve to Nigerians. However, the Lagos State government KDV FRPH WR DPHOLRUDWH WKH VXͿHULQJV RI Lagosians. And last Wednesday, Governor Babajide Sanwo-Olu announced a week-long reduction of fares by 50% on Lagos State transport services as well as distributing food packs to vulnerable Lagosians. “I have directed immediately that from tomorrow, on all of our Lagos run bus system, all of our BRT buses on all of our up prices to as much as N350 per litre. These Lag ride taxis, all of our ferries and all of DFWV KDYH LQÁLFWHG XQWROG KDUGVKLS RQ PDQ\ our last miles buses and small buses that Nigerians. Take transportation for instance. A we have in the state, that they should bus trip from Lagos to Benin which used to be carrying passengers at 50 per cent of cost about N4000 was recently going for about the current fare and this will continue to N8000. Within Lagos, the iconic yellow and happen using their Cowry Cards,” Sanwoblack striped commercial buses also hiked Olu said. “And we want to further make their fares. Then, there is also the nuisance of this Cowry Card available to all willing WUD΀F VQDUOV FDXVHG E\ ORQJ TXHXHV DURXQG citizens. We have over three million cowry ÀOOLQJ VWDWLRQV ZLWK SHWURO cards that are out there that are being As usual, the Nigerian National Petroleum used. So for the next one week, on all the Corporation Limited (NNPCL) has assured passenger route within all of our buses, Nigerians that the situation would improve ferries and taxis, passengers will enjoy with more supply, this evidence is yet to be a 50 percent discount from tomorrow seen in the states as fuel queues still persist. morning.” In addition to the pains of procuring Regarding the fuel scarcity, the petrol, Nigerians also started the year with governor lifted the restriction on opening uncertainty of availability of cash. Following and allowed 24-hour operations by the redesign of the N1000, N500 and N200 ÀOOLQJ VWDWLRQV $ PRQWK DJR WKH VWDWH notes by the Central Bank of Nigeria, the bank government had restricted the operations issued a directive that Nigerians deposit the RI ÀOOLQJ VWDWLRQV ORFDWHG RQ PDMRU old naira notes by January 31, 2023 and that KLJKZD\V EHFDXVH RI WUD΀F FRQJHVWLRQ $V it would cease to be a legal tender by that part of ameliorating the situation, Sanwodate. As Nigerians began to comply with the Olu also announced that food banks will directive, it became clear that the new notes be set up around the state for vulnerable which the CBN wanted Nigerians to begin citizens. spending were not well-circulated. “We are going to be identifying Hence, situations arose whereby depositors vulnerable spots in our communities could not access the new naira notes either and you would see us distributing food across the counters inside banking halls or LWHPV IRRG VWXͿV WKDW ZH DUH PDNLQJ from the automated teller machines (ATM). arrangement for and we have tens of In desperation, scenes in banking halls like thousands that are ready and we will be people stripping themselves naked and identifying various locations in which we SHRSOH ÀJKWLQJ HDFK RWKHU SHRSOH DV WKH\ will be distributing these food packs so demanded their monies played out. There WKDW ZH FDQ FXVKLRQ WKH HͿHFWV RQ DOO RXU ZHUH DOVR ÀJKWV DW $70 FHQWUHV ZLWK SHRSOH citizens,” he said. on queues exchanging blows. A particular It is commendable that Sanwo-Olu has incident at the University of Benin showed the interest of the people at heart as they students pouncing on and beating a soldier face the dual shortages of fuel and cash. that shunted the ATM queues. Recognising the period as a trying one, the Though this currency redesign move JRYHUQRU DOVR EULHÁ\ FHDVHG KLV FDPSDLJQ was widely welcome by citizens, in some for a second term to address citizen’s quarters, it has been criticised for lack of a plight. Of course, it is his responsibility proper implementation. In fact, the Central to serve Lagosians. This, like many %DQN RI 1LJHULD *RYHUQRU *RGZLQ (PHÀHOH interventions is worthy of emulation by admitted the CBN did not anticipate the other state governments. problems. Yet, some Nigerians focused their Ajayi resistance to any shift in deadline for the writes from Lagos

25 4

T H I S D AY

WEDNESDAY FEBRUARY 15, 2023

EDITORIAL

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

KATSINA AND THE BURDEN OF BANDITRY Security agencies must do more to restore normalcy to the state

DQGLWV DUH RQ UHQHZHG RͿHQVLYH LQ .DWVLQD the home state of President Muhammadu %XKDUL /DVW ZHHN DERXW LQQRFHQW FLWL]HQV DQG PHPEHUV RI D YLJLODQFH JURXS ZHUH EXULHG LQ GLͿHUHQW FRPPXQLWLHV LQ %DNRUL ORFDO JRYHUQPHQW DUHD RI WKH VWDWH 0RVW RI WKH GHDG ZHUH PHPEHUV RI WKH <DQVDNDL YROXQWHHUV ZKR ZHUH FKDVLQJ DIWHU EDQGLWV ZKR UXVWOHG DERXW FRZV 7KH VSRNHVPDQ RI WKH VWDWH 3ROLFH &RPPDQG *DPER ,VDK VDLG WKH YLJLODQWHV ZHUH DPEXVKHG E\ KRRGOXPV ZKR ZHUH EHLQJ WUDFHG WR WKHLU QRWRULRXV KLGHRXW LQ <DUJRMH IRUHVW LQ -LELD ORFDO FRXQFLO ,Q ZKDW KDV EHFRPH D IDPLOLDU URXWLQH WKH SUHVLGHQW UHSRUWHGO\ FRQGHPQHG WKH DWWDFN DQG DVVXUHG WKDW WKH VDFULÀFHV RI WKH EUDYH YLFWLPV ´ZLOO QRW EH IRUJRWWHQ µ :KLOH ZH FRPPLVHUDWH ZLWK WKH IDPLOLHV RI WKH YLFWLPV ZH PXVW VWDWH ZLWKRXW HTXLYRFDWLRQ WKDW WKH VHFXULW\ VLWXDWLRQ LQ .DWVLQD 6WDWH LV YHU\ HPEDUUDVVLQJ 7KH DWWDFNV SDUWLFXODUO\ RQ UXUDO FRPPXQLWLHV KDYH ORQJ IRUFHG PDQ\ UHVLGHQWV LQFOXGLQJ GLVWULFW KHDGV WR Á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·V 1RUWKZHVW HDUOLHU LQVXODWHG IURP WKH KDYRF DQG JKDVWO\ DWURFLWLHV RI WKH GHFDGH ORQJ %RNR +DUDP LQVXUJHQF\ LQ WKH 1RUWKHDVW KDV EHFRPH DQRWKHU

PDMRU WKHDWUH RI YLROHQFH ´7KH\ DUUHVW UXUDO SHRSOH DW ZLOO DQG GHPDQG UDQVRP ZKLFK LI QRW SDLG UHVXOWV LQ WKH NLOOLQJ RI WKHLU YLFWLPV µ WKH ODWH *DODGLPDQ .DWVLQD DQG 'LVWULFW +HDG RI 0DOXPIDVKL -XVWLFH 0DPPDQ 1DVLU RQFH VDLG ZKLOH H[SODLQLQJ KRZ WKH VHFXULW\ DJHQFLHV RI VWDWH KDYH EHHQ UHQGHUHG LPSRWHQW E\ WKH FULPLQDOV ,W LV LURQLFDO WKDW VLQFH WKH EHJLQQLQJ RI WKH FXUUHQW DGPLQLVWUDWLRQ KHDGHG E\ D .DWVLQD PDQ UHVLGHQWV RI WKH VWDWH KDYH EHHQ OLYLQJ XQGHU WKH VLHJH RI FULPLQDOV 'HVSHUDWH WR ÀQG D VROXWLRQ WR WKH ZLGHVSUHDG LQVHFXULW\ LQ KLV VWDWH .DWVLQD 6WDWH *RYHUQRU $PLQX %HOOR 0DVDUL LQ GLG WKH XQWKLQNDEOH +H DORQJ ZLWK RWKHU WRS JRYHUQPHQW R΀FLDOV VHFXULW\ RSHUDWLYHV WUDGLWLRQDO UXOHUV DQG UHSUHVHQWDWLYHV RI 0L\HWWL $OODK KHOG VHVVLRQV ZLWK UHSUHVHQWDWLYHV RI EDQGLWV WHUURULVLQJ KLV VWDWH ´:H DUH UHDG\ WR GLDORJXH ZLWK WKH EDQGLWV DQG UHDG\ WR JR DQ\ZKHUH WKH\ LQYLWH us. We are not afraid to PHHW DQ\ERG\ WR HQG WKLV SUREOHP µ ([SHFWHGO\ WKH DJUHHPHQW UHDFKHG ZDV REVHUYHG LQ WKH EUHDFK IRUFLQJ WKH H[DVSHUDWHG JRYHUQRU WR DVN UHVLGHQWV WR GHIHQG WKHPVHOYHV E\ DQ\ PHDQV SRVVLEOH ,Q DOO WKH FKDRV RI UHFHQW \HDUV ZH DUH \HW WR VHH WKH LPSDFW RI WKH VHFXULW\ IRUFHV UHSRUWHGO\ GHSOR\HG WR WKH VWDWH WRZDUGV FXUELQJ WKH DFWLYLWLHV RI WKH EDQGLWV ZKR KDYH FRQWLQXHG WR LQÁLFW D UHLJQ RI WHUURU DQG EORRGOHWWLQJ :LWK LQFUHDVLQJ \RXWK XQHPSOR\PHQW DQG WKH LQDELOLW\ WR IDUP WKHVH GDUN FORXGV RYHU .DWVLQD DQG RWKHU 1RUWKZHVW VWDWHV ZLOO QRW JR DZD\ XQWLO WKH DXWKRULWLHV DQG FULWLFDO VWDNHKROGHUV EHJLQ WR ÀQG SUDFWLFDO VROXWLRQV WKDW DUH ERWK NLQHWLF DQG QRQ NLQHWLF %XW LW PXVW EHJLQ ZLWK WKH IRUPHU 3UHVLGHQW %XKDUL PXVW GHPRQVWUDWH FDSDFLW\ WR GHDO ZLWK FULPLQDOV ZKR DUH RYHUUXQQLQJ KLV VWDWH RI RULJLQ $V ZH KDYH DOZD\V VWDWHG WKH FXUUHQW FXOWXUH RI LPSXQLW\ LQ WKH FRXQWU\ ZLOO QRW HQG XQWLO SHRSOH ZLWK FULPLQDO WHQGHQFLHV UHDOLVH WKDW WKH ODZ FDQ DQG ZLOO DOZD\V FDWFK XS ZLWK them.

The current culture of impunity in the country will not end until people with criminal tendencies realise that the law can, and will, always catch up with them T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

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 STOP CHIKONDO WITCH HUNTING PRACTICE IN ZAMBIA 7KH $GYRFDF\ IRU $OOHJHG :LWFKHV FRQGHPQV WKH SUDFWLFH RI ¶PDJLFDO PRYLQJ FR΀Q· DOVR NQRZQ DV &KLNRQGR LQ =DPELD 7KH &KLNRQGR ULWXDO LV FRQGXFWHG WR DVFHUWDLQ ZKR LV UHVSRQVL EOH IRU WKH GHDWK RI D SHUVRQ LQ WKH FRPPXQLW\ &KLNRQGR LV DQ RXWGDWHG SUDFWLFH WKDW VKRXOG QRW EH FRQGXFWHG LQ VW FHQWXU\ =DPELD 8QIRUWX QDWHO\ WKLV WUDGLWLRQDO SUDFWLFH SHUVLVWV DQG SUR YLGHV D SUHWH[W WR LPSXWH ZLWFKFUDIW DWWDFN DQG PXUGHU LQQRFHQW SHRSOH $ UHSRUW IURP 0XVKLQ GDPR 'LVWULFW RI 1RUWK :HVWHUQ 3URYLQFH VWDWHV WKDW RQ -DQXDU\ WZR SHUVRQV ZHUH NLOOHG DQG WKUHH RWKHUV VXVWDLQHG LQMXULHV GXULQJ D &KL NRQGR SUDFWLFH LQ WKH UHJLRQ 7KH GHFHDVHG YLF WLPV ´ZHUH LGHQWLÀHG DV 0XPD &KHZH DJHG IURP 0XPD YLOODJH DQG %HVWURQJ 0DQJDOD DJHG IURP 0DVKHNH YLOODJH ZKLOH WKH LQMXUHG YLF WLPV ZHUH LGHQWLÀHG DV 5REVRQ &KLSXWX DJHG

IURP &KLSXWX YLOODJH .HQQHWK .LSDPLQD DJHG IURP .LSDPLQD YLOODJH DQG /XFNVRQ &KHQVKD DJHG IURP &KLNZDED YLOODJHµ 7KH UHSRUW VD\V WKDW D PDQ 0ZHOZD 0DOHP EH GLHG DIWHU D VKRUW LOOQHVV $QG RQ -DQXDU\ VRPH FRPPXQLW\ PHPEHUV FRQGXFWHG ¶FKLNRQGR· PDJLFDO PRYLQJ FR΀Q WR FRQÀUP WKH SHRSOH EH OLHYHG WR EH EHKLQG WKH GHDWK RI WKH GHFHDVHG ,Q WKH FRXUVH RI WKH SURFHVVLRQ WKH ¶PDJLFDO PRYLQJ FR΀Q· KLW VRPH SHRSOH LQFOXGLQJ WKH GHFHDVHG DQG WKH PRE DWWDFNHG WKHP DQG WKUHH RWKHU SHU VRQV 6RPH SHRSOH DOHUWHG WKH SROLFH %\ WKH WLPH WKH SROLFH DUULYHG DW WKH VFHQH WZR SHUVRQV ZHUH O\LQJ XQFRQVFLRXV DQG WKUHH RWKHUV KDG VHULRXV LQMXULHV 7KRVH ZKR ZHUH XQFRQVFLRXV ZHUH ODW HU FRQÀUPHG GHDG DW D ORFDO KRVSLWDO 7KH SROLFH KDYH ODXQFKHG D PDQKXQW IRU WKRVH VXVSHFWHG WR KDYH FDUULHG RXW WKH DWWDFN $ ORFDO PHGLD VRXUFH

VD\V WKDW WKH SUDFWLFH RI PDJLFDO PRYLQJ FR΀Q KDV OHIW QLQH SHRSOH GHDG LQ WKH SURYLQFH VLQFH ODVW \HDU &KLNRQGR LV D WUDGLWLRQDO KDUPIXO SUDFWLFH EDVHG RQ VXSHUVWLWLRQ DQG XQUHDVRQ 7KH QRWLRQ WKDW D FR΀Q FDQ PDJLFDOO\ PRYH LV DEVXUG 7KH LGHD WKDW D FR΀Q FDQ LGHQWLI\ WKH SHUVRQ UHVSRQ VLEOH IRU WKH GHDWK RI DQ LQGLYLGXDO LV QRQVHQVH 1R FR΀Q FDQ PDJLFDOO\ PRYH XQOHVV PRYHG RU PDQLSXODWHG E\ KXPDQ EHLQJV 7KH &KLNRQGR SUDFWLFH LV D IRUP RI KXPDQ PDQLSXODWLRQ RI D FR΀Q 1RWKLQJ LV PDJLFDO DERXW WKH PRYLQJ FRI ÀQ ,I D GHDG SHUVRQ QHHGV WR LGHQWLI\ WKH NLOOHU LW GRHV QRW QHHG D PDJLFDO PRYLQJ FR΀Q 7KH SHR SOH RI =DPELD VKRXOG VWRS WKH KDUPIXO VXSHUVWL WLRXV SUDFWLFH RI &KLNRQGR Leo Igwe directs the Advocacy for Alleged Witches

T H I S D AY ˾ WEDNESDAY FEBRUARY 15, 2023

EDUCATION Lafarge Africa: Educating Cross River Youths for Greater Future Bassey Inyang writes that in accordance with its corporate social responsibility, Lafarge Africa is making serious contributions to the education sector in Cross River

Students of West African People’s Institute, Diamond Hill, Calabar that are beneﬁciaries of Lafarge Africa’s Education Support Programme

he importance of education to the overall development of the human person and society cannot be overemphasised. For example, the late Nelson Mandela said, “Education is the most powerful weapon which you can use to change the world.” In a similar breath, former US President Barack Obama said, “In a global economy where the most valuable skill you can sell is your knowledge, a good education is no longer just a pathway to opportunity - it is a prerequisite.” Mandela’s and Obama’s statements underscored the holistic essence of education. The late Chief Obafemi Awolowo knew that education was invaluable in total development. He introduced free education in the then-Old Western Region between 1954 and 1962 during his time as the premier, with enduring benefits. Successive local, state and federal governments have striven to copy that template. However, amidst competing budgetary demands, these efforts by governments are grossly inadequate. Over the years, the federal and state governments have demonstrated their incapability, whether deliberately or otherwise, to adequately finance their respective education sectors by not setting aside at least 20 per cent of their annual budget for the sector as recommended by United Nations Education Cultural and Scientific Organisation (UNESCO). Therefore, governments at all levels have solicited the support of the private sector in funding education. Long before the appeal, Lafarge Africa had ventured to contribute, even more than its quota, to the development of education in various parts of the country where it has stakes. The company’s massive contribution to the education sector abounds in its host communities in Cross River State, where the cement manufacturer has its factory in Mfamosing, Akamkpa council area. Recently, the company’s production manager at the Mfamosing Plant, Mrs Idara Uyok, disclosed that as part of its CSR, it had provided educational support to 130 scholars in secondary and tertiary institutions in the state. GEDE Foundation is the education consultant to Lafarge Africa on implementing the company’s educational support programmes in its host communities in Cross River. A representative of the foundation, Mr John Bassey, told THISDAY about some aspects of the educational support programme. “I work with GEDE Foundation as a volunteer. We facilitate the educational sector of Lafarge in terms of CSR in the communities. We handle the payment of fees for students in the schools in our host communities, and we also provide them with study materials like textbooks and exercise books,” said Bassey. “I think Lafarge is doing very, very well. They have been able to train a lot of students. Like in the last WAEC, we have our scholarship student as one of the best with 5 As.” Bassey said GEDE ensures that the students

maintain a high standard of performance in their academics by doing regular checks and follow-ups on the general performances in their various schools. Lafarge Africa scholarship scheme, otherwise tagged ‘Educational Support’, provides N100,000 with every session to each benefiting student across its 17 host communities, mostly in the Southern senatorial district of the state. Aside from the cash paid directly to the beneficiaries, Lafarge Africa has renovated schools, built additional blocks, staff quarters, and modern toilet facilities, and provided boreholes as a source of clean water in most schools. It also supplied uniforms, sandals, books, and desks to the schools based on their demands without charge. The Chairman of the Community Relations Committee (CRC) of Lafarge Host Communities, Ntufam Alphonsus Bassey, who hails from Mbobi Clan in Akampka LGA, said, “Every year, our children who are in secondary schools, about 10 of them, are given what we call educational support. Lafarge Africa pays their school fees, gives them uniforms, and buys books. They call the programme ‘back-to-school’. They give educational support to our children who are schooling at the University of Calabar, Cross River State University, College of Education Akampka, and other tertiary institutions. At the moment, we have about four of them that they are supporting.” THISDAY visited some schools in Calabar and the rural communities to check the veracity of these claims. At the West African Peoples Institute (WAPI), located in Calabar Municipality, Master Nisi Thomas Agida, a senior secondary three (SS3) student and one of the beneficiaries of the Lafarge Africa scholarship programme, told THISDAY, “It has been very interesting and Lafarge has really helped me in particular because my parents were having very serious problems in paying my school fees. So, I am thanking Lafarge for everything they have done for me. I promise Lafarge that I will be successful in my WAEC, NECO, and JAMB.” Miss Blessing Edet Bassey, who hails from Essien Town in Calabar Municipality, added, “I am in JS3. I was very happy the first day they came to pay my school fees. My parents were happy too. My father

Teachers and nurses quarters at Ekong Anaku Community, Akamkpa LGA is very happy that his child is among those that got a scholarship from Lafarge. Blessing Eyamba Etim from the Akpabuyo community, a JS3 student of WAPI, also commended the company’s initiatives. At Government Secondary School, Akansoko, Akpabuyo council area, some students in the school, Miss Racheal Elijah, Miss Happiness Victor Asuquo, Miss Idorenyin Emmanuel Cletus, Miss Happiness Etim Essien, Miss Esther Bassey Sunday, and Master Elkanah Manasseh Jonah, all beneficiaries of the Lafarge Africa educational support lauded the company’s programme. Elijah said, “I am in JSS 2. I am so happy to be on a scholarship because it is not easy for someone to send another person to school. I promise that I will try as much as possible to be intelligent and also grow into a responsible citizen to support others. I hope to study medicine. I thank Lafarge very much for giving me this opportunity.” Jonah, an SS2 male student said, “I thank Lafarge for all they have done for us because it is not easy to pay school fees, even if it is done in instalments every term. They have helped me and helped my mother in paying my fees. I am doing well in school now, more than before, because my mind is settled.” Government Secondary School, Akwa Ikot Effanga, bears a glaring testimony of Lafarge Africa’s intervention with the complete renovation of the entire classroom blocks, thus providing the school with the necessary and conducive ambience for teaching and learning. The Principal, Lady Asangusung Mediatrix Ujor, said aside from the renovation, the cement company built and equipped a new lodge for NYSC members who form a large chunk of the teachers’ cadre in the school. She commended Lafarge Africa for supplying the school with plenty of desks, books, and uniforms and awarding scholarships to students. However, she urged the company to ensure that school authorities are also consulted alongside the community in the selection of beneficiaries of the educational support initiative. Umoh Edet Okon, an SS2 female student, and Joseph Okon Effiong of the same class said they are enjoying Lafarge Africa’s scholarship. “The scholarship has challenged me to study more. I know all of us under scholarship said we cannot disappoint Lafarge and our parents, and we cannot joke with our future, so we must build it now. We thank God that Lafarge is helping us to build our tomorrow,” stated Umoh. Realising the importance of early childhood education, and the essence of building their education on a solid foundation, Lafarge Africa also provided educational support to primary schools in its catchment areas. A typical example of the company’s intervention at this critical stage of educational development is Government Primary School, Abiati, Akamkpa Local Government Area.

Head Teacher of the primary school, Mr Oyere Alfred Ujong, told THISDAY that the school had virtually collapsed and was going into extinction when Lafarge Africa got information about its sorry state and promptly responded. He said the company intervened comprehensively and brought the school back to life. “I came here some years ago and saw the school. It was almost buried. Thank God Lafarge came with their provision of textbooks, uniforms, sandals, and desks. Even this year, they have sent in National Youth Service Corps members,” said Ujong. Ujong added, “It is an old school established in 1993. It got dilapidated, but since Lafarge renovated it, it has encouraged parents to register their children. The cry was that teachers were leaving here. I didn’t meet up to 20 children in this school, but by now, I can boast of 70 pupils because of the efforts of Lafarge.” In the school, Ezie Florence Oghogho, NYSC member and a Delta State Polytechnic graduate, said she was posted to the school at the instance of Lafarge Africa. “Almost every day, parents bring in more children to be registered because there are more teachers to teach them and more classrooms that can accommodate the growing number of children coming,” she said. Lafarge Africa’s support is wider than public schools as private schools and their students are accommodated, provided for, and catered for. A good example is Immaculate Conception Secondary School, Mfamosing, Akamkpa LGA, a private academic institution. The school’s principal, Sir James N. Achu (KSM), told THISDAY about the support received from Lafarge Africa. Achu said, “They have given us desks which have really helped in teaching and learning. They have equally given nine students scholarships. They have been supporting us by posting NYSC members to help the students in the teaching and learning process.” The principal said Lafarge has even gone a step further outside the classroom by providing mentorship to the students, especially the female students who are prone to vulnerabilities in rural settings. “They come in for sensitisation, especially for female students, so that they can put more effort. They bring in female engineers to showcase them and mentor the students to really queue in and take their studies seriously; that what a man can do, a woman can do better if given the opportunity,” Achu added. “The sensitisation is in the right direction, particularly in the rural areas, so that they will take their studies seriously and know that they can become professionals in future. So we commend Lafarge in that aspect. Lafarge also takes the students out of here to events in Calabar and other places just to expose them and give them more education.” Achu, however, requested more support from the benevolence of the giant cement manufacturing company.

T H I S D AY ˾ WEDNESDAY FEBRUARY 15, 2023

EDUCATION

Morning Circle: Mystery to Excellent Early Nekede Poly Invents Electric Childhood Education Car, Drone As Rector Marks Four-Year Tenure Amby Uneze ÓØ áÏÜÜÓ

The Rector of the Federal Polytechnic, Nekede, Owerri, Michael Arimanwa, says the institution has developed farreaching inventions over the past four years of his tenure, including an electric car and a security drone. He also promised that the institution would not victimise a student, Ogechi Okoroafor Sharon, whose controversial video went viral, as the polytechnic management continued to investigate her claim she graduated “with the help of God and her private part.” Addressing journalists, the rector said due process would be followed in handling her claims in the viral video and make their findings known to the public soon. While reeling out a list of abridged achievements he re-

Some early learners observing their morning circle

corded in his four-year tenure, the rector said TETFetfund had assisted in meeting the set goals. According to him, as the eighth substantive rector of the institution, he has provided transformational leadership consistent with 14 goals and 72 targets he set for himself before his emergence. He had also redefined leadership with his disarming charisma, meekness, humility, brilliance and innovativeness, as his achievements are comprehensive, integrated and eclectic, embracing all the sectors of life at the foremost institution. The rector, whose five-year tenure would end next year, stated that he had maintained the status of best-performing polytechnic in Nigeria, according to the National Board for Technical Education (NBTE).

Kuni Tyessi writes that play, also formally known as morning circle in the early childhood education sphere, has been grossly underestimated in the Nigerian setting. Nonetheless, with Seadogs Tasks FG on documented research and empirical evidence, records have proven Quality Education for that play is a natural power that equips a child for better attentiveness, Nigerians understanding and assimilation, among several benefits

he children between the ages of threefive were all seated on mats spread on the sand outside their classes, under trees that provided shades from the compulsory Vitamin D that normally surfaced in the early hours of the day. This was after holding their hands alongside their teachers in a cyclical style and jumping while joyfully singing the songs being taught them by the caregivers who are primarily their first teachers, after parents who have been active partners in the children’s learning and development, a shared vision in the role of play in pre-primary programmes. The teachers who had been trained by the United Nations Children’s Fund (UNICEF) and in collaboration with the European Union and the Sokoto State government had been taught that early

Blessing Ibunge ÓØ ÙÜÞ ËÜÍÙßÜÞ

brain stimulation is the foundation of learning. This is not without nutrition which medical experts identified as core to a child’s holistic growth. Being equipped with such knowledge, they realised the importance of the morning circle and adopted it as a germane method in introducing lessons to be taught in class to the early learners through the power of play. In furtherance to its crusade on ECE, UNICEF, at a two-day media dialogue in Sokoto, had spoken through the country director of Early Childhood Development Initiative, Nigeria, Dr Amy Panyi. She explained the play’s importance for ECE and mentioned the five benefits of the underrated performance: critical thinking, innovation, executive function, all-round development and hands-on. Plays have been exclusively

adopted into several schools as an ECE curriculum with the help of breakfast which is sometimes served to the pupils in a school to increase enrollment and participation. However, this hasn’t been sustainable as supplies have been epileptic in Sokoto. Globally speaking, UNICEF has revealed that less than one in three children aged three and four attend ECE. In Nigeria, over one in three children (36 per cent) attend, with at least 10 million children not enrolled. This is not forgetting that large inequalities persist, with only eight per cent of the poorest children versus 78 per cent of the richest children attending ECE. Although they were taught in the combination of English and Hausa languages at the Magaji Abdullahi Nursery School in the Shagari Local Government Area of the state, the children were enthusiastic about learning

courtesy of the setting and mode of teaching, particularly its introduction. The early learners, when spoken to, could identify the names, objects, usefulness or otherwise of things shown to them in the subjects under focus, namely Mathematics, English, Hausa, Physical Health Education and Arabic. This is proof that there has been an improvement in the quality of education, an increase in school participation and graduation rates, and stronger economic and social development. Furthermore, strengthening families understanding of the value of play in pre-primary settings and at home, as well as engaging families and communities in supporting a play-based approach to learning, does not only protect a child’s ability to play safely but the ability to understand and to interpret.

The National Association of Seadogs (NAS), Pyrates Confraternity, has urged the federal and state governments to renew their commitment to providing quality education for all Nigerians as a matter of rights and as a strategy of ensuring that every child reaches their full potential. The Olympus Marino Deck, Rivers State Chapter 1 of NAS, made this call after donating training materials and books to primary schools in the Degema local government area to commemorate this year’s International Day of Education. Speaking at the event, Mr Iche Wordu, Capoon, the Olympus Marino Deck, advised the government to invest in infrastructure, teacher training, and provision of educational materials, as well as addressing cultural attitudes and systemic barriers to education. Wordu stressed that through

cross-sectoral synergies and increased policy emphasis, Nigeria could build a future in which every Nigerian has access to education opportunities. He noted that the government had sustained a low budget for the sector amidst strikes by teachers and other workers, inadequate and dilapidated infrastructures, insufficient research, shortage of skilled workforce, insecurity, and brain drain, among other challenges bedevilling the sector. According to the NAS leader in Port Harcourt, the dearth of education at the lower level continues, although the first nine years of education in Nigeria are compulsory and free by Nigeria’s UBE Act. He listed the several policy inefficiencies responsible for Nigeria’s education outcomes, including access to education, inadequate infrastructure, low quality of education, funding shortages and limited opportunities for girls.

Sanwo-Olu Appoints LaﬁajiBabcock Student Wins NiWARD ‘Farmer of Okunneye as LASUED VC the Year’ Award Funmi Ogundare

A 500-level Agriculture and Industrial Technology student, Babcock University, Ilishan-Remo in Ogun, Heman Gabriel Zakaria, has emerged winner of the ‘2022 Farmer of the Year’ award, following his outstanding performance at the national contest of the Nigeria Women in Agricultural Research for Development award (NiWARD). Zakaria, who shared the limelight with his supervisor and Head of Department, Dr Bukola Osuntade, stood out for his performance and abstract presentation on the FILAI method of preservation,

a simple and inexpensive way of keeping vegetables fresh without electricity. The initiative aims to achieve the Sustainable Development Goal (SDG) of zero hunger in Nigeria by encouraging innovative research in agriculture. Nine finalists emerged from the three categories online at the NIWARD annual general conference comprising: intermediate (undergraduate or graduates), advanced (postgraduates, early to late career researcher) and stakeholder (agricultural practitioner). Apart from these, a fourth category of the winner, the

Funmi Ogundare

people’s choice, could be from any of the three top contestants. Zakaria emerged as the top winner and the people’s choice, for which he clinched a cash prize of N100,000, a plaque and the NiWARD farmer of the year award (NFA). NiWARD is the Nigerian chapter of the prestigious African Women in Agricultural Research and Development (AWARD) which organised the contest during the maiden edition of its Farm to Mouth Agro-contest from August 1 to November 30, 2022. The Vice-Chancellor, Prof Ademola Tayo, expressed de-

light about the breakthrough, saying that if implemented, the research innovation will help drive the much talked about food and agricultural revolution the country is yearning for. In another development, a 400-level student of Mass Communication, Oluwatoyin Ajewole, clinched the second place trophy of the Advertisers Association of Nigeria’s Future Leader of Marketing award. An elated Ajewole said, “This award has opened many opportunities for me already, and I plan to do and achieve more things in the marketing space.”

Governor Babajide Sanwo-Olu has approved the appointment of Prof Bidemi Bilkis LafiajiOkunneye as the substantive Vice-Chancellor of the Lagos State University of Education (LASUED), Ijanikin and Epe Campuses. In a letter, the Head of Service, Mr Hakeem MuriOkunola, said the appointment of Lafiaji-Okunneye, which will take effect from March 1, 2022, is for a single term of five years. “I am happy to convey the approval of Mr Babajide Olusola Sanwo-Olu, the Governor of Lagos State of your appointment as Vice-Chancellor, Lagos State University of Education

(LASUED) for a single term of five years with effect from March 1, 2022,” the letter stated. It added, “In approving your appointment, the state government expects you to continue to demonstrate a high level of dedication, diligence and selflessness in the discharge of your duties to justify the confidence and trust reposed in you by Mr Governor.” Muri-Okunola congratulated the new VC and urged her to continue demonstrating a high level of dedication, diligence and selflessness to justify the confidence reposed in her by the state government, fast-tracking the growth of the new university to achieve set goals and accelerated development.

WEDNESDAY FEBRUARY 15, 2023 •T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 •T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 •T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 •T H I S D AY

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

WEDNESDAY, FEBRUARY 15, 2023 ˾ T H I S D AY

BUSINESS/MONEYGUIDE

REA: Private Sector Driven Rural Electrification Projects Most Sustainable Oluchi Chibuzor The Rural Electrification Agency (REA) has stated that private sector-driven rural electrification projects remain the most sustainable partnership to penetrate and perpetuate access to electricity in rural regions of the country. It disclosed that since its establishment in 2006, it has not only taken deliberate steps to ensure that qualitative and world-class projects are delivered to rural areas, which are mostly underserved or unserved, but has also ensured that the sundry projects were sustainable through viables markets, financing and a solid business case. The REA is currently undergoing some reforms, particularly in its internal functions, which will foster adherence to standard operating procedures in its activities, ensure that staff members are not working in silos, and ramp-up capacity building to

deliver on its mandate. Speaking to journalists at the REA staff retreat, the Managing Director and Chief Executive Officer (CEO) of the REA, Ahmad Salihijo, disclosed that the retreat which attracted all the staff of the agency, and has in attendance the entire power sector players, Nigerian Electricity Regulatory Commission, Nigerian Electricity Management Services Agency (NEMSA), Bureau of Public Enterprises (BPE), Auditor-General, Accountant-General, anti-graft agencies, and other relevant stakeholders was designed to get all partners on board with focus on the reforms his administration is driving, . He stressed that for rural electrification projects to be sustainable, whether they are mini grids, solar home systems or grid extensions, state governments and local communities must take ownership. While noting that there is an

urgent need to galvanize local funding for rural electrification projects, and foster Public-Private Partnerships (PPPs), Salihijo said: “When we came into the institution in late 2019, what became paramount is that the institution wasn’t really doing what it was supposed to be doing, both in technical works and operationally in terms of how a typical government organization works. “As much as changes wanted to be made, we were also very restricted because we also had a situation where we had to continue working. These reforms had to be done around the people and processes in the institution, and the systems that were put in place. One of the first things we did was to do a five-year plan. Knowing that my tenure was going to last five years, this is just me now internally looking to see what I hope to achieve in terms of the five years.”

L-R: The Commissioner for Insurance and keynote speaker, Mr Sunday Thomas, Convener and Managing Consultant, Dr Funmi Babington-Ashaye, the newly installed, President of Chartered Insurance Institute, London , Mr Russell Higginbotham and Chairman of LASACO Insurance Plc, Mrs Teju Phillips during the Insurance Leadership Course Organized by Chartered Insurance Institute, London in Collaboration with Risk Analyst Consultant(UK)Limited... recently

MARKET INDICATORS

Sterling Bank, Credit Café Sign MoU to Boost Lending Sterling Bank Plc has signed a partnership agreement with Credit Café Africa for the distribution of a credit facility template, insurance, and other value-added services for existing and potential customers of the bank in the health and education sectors of the economy. Speaking at the signing ceremony of the Memorandum of Understanding (MoU) between Sterling Bank and the digital lending platform, the Divisional Head, Health and Education Finance with

Sterling Bank, Mr. Obinna Ukachukwu said the service will cover operators of nursery, primary and tertiary institutions as well hospitals, clinics, pharmaceutical and diagnostic centers, among others. The divisional head said the bank will put N10 billion behind the partnership in the first tranche and scale it in the future. Under the arrangement, customers can get up to a maximum of N20 billion loan and a minimum of N100,000 loan depending on the applicant’s financial

needs, he added. Also speaking, Mr. Louis Gyiman, Founder /CEO of Credit Café Africa, said his company will make it possible for customers of Sterling Bank to have access to finance through the credit facility template in a faster and efficient manner. He said the facility will enable potential customers to personally monitor everything related to the credit as well as build up credibility in the system, which he described as seamless and effective.

Funmi Babington-Ashaye Foundation Mentors Cohort one Graduands The Cohort one graduands of Funmi Babington-Ashaye Foundation (FBA) Mentoring programme have been urged to make good use of the knowledge and experience they acquired during their one-year training programme to impact their world and make great strides in their careers. Funmi Babington Ashaye Mentoring Programme is an initiative of the Funmi Babington-Ashaye Foundation set up to inspire women and skill them to achieve maximum potential in career, business and life. Convener and Chairperson of FBA Foundation, Dr. Funmi Babington-Ashaye, said FBA is

a trusted partner in mentoring and advocacy for women with the focus on nurturing 360-degree woman. In her opening remarks, President and Head of the FBA Foundation, a Project Management and Mentoring and Coaching Expert, Lola Adeleye commended the Governing Board for working assiduously and ensuring that the graduates interacted with top-rated mentors and industry giants through oneon-one session and seminars. Lola urged the graduands to allow the key take always, experience and knowledge acquired from the mentorship programme to shape them into the 360-degree women they

were designed to be. Reverend Binta Max Gbinijie, guest speaker at the occasion, speaking on theme: ‘Mentoring Before and After,” commended Dr. Funmi Babington-Ashaye for her contribution especially in the nation’s economy and women empowerment. While congratulating the graduands for making it to the end, a Financial Executive and Financial Management Consultant, Rev. Gbinijie charged them to make proper and judicious use of the knowledge and experience they acquired from various mentors that engaged them during the mentoring programme.

MONEY AND CREDIT STATISTICS (MILLION NAIRA) AUGUST 2022 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

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Leadway Assurance Receives ISO/IEC 27001 Certification

Savings Deposit Rate

1.42

Ebere Nwoji

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

Leadway Assurance, has received recertification for the globally acclaimed ISO/ IEC 27001 Certification for Information Security Management Systems for its robust and thorough information security processes. The ISO/IEC 27001 is an international standard certification issued by the International Organisation for Standardisation (ISO) to organisations that have established superior systems and processes for managing information security. It details the requirements for establishing, implementing, maintaining, continually improving, and securing the organisation’s information

assets. Speaking on the certification, the Managing Director/ Chief Executive Officer of Leadway Assurance, Tunde Hassan-Odukale, stated that the re-certification was in recognition of Leadway’s unwavering commitment and strictest compliance with the process of providing quality management information and security management systems for the cyber safety of its stakeholders. He said it was yet another strong indicator that the Leadway brand was built on unmatched and entrenched risk management systems buoyed by its robust enterprise information technology, ensuring that the firm was on top of the game ahead of the

prevailing severe cyber crimes. “We understand the criticality of today’s cyber security realities, so we must invest in providing word-class cyber security architecture, reengineer and optimise our robust risk management processes to protect critical data on our customers, financial operations, medical information, and employee details.” “We are delighted to have this recertification, and I am confident that having achieved this milestone, we will continue to maintain and sustain continuous system improvement and give room for external checks and balances for proper efficacy and future scrutiny in line with the global standard,” he added.

˾ ÙßÜÍÏ ̋

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 10 JANUARY, 2023

The price of OPEC basket of thirteen crudes stood at $82.78 a barrel on Thursday, compared with $81.86 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela)

T H I S D AY ˾ WEDNESDAY, FEBRUARY 15, 2023

MARKET NEWS

Buying Interest in Guinness, Others Boost Stock Market by 0.24% Kayode Tokede Investors positive sentiments continued yesterday on the stock market of The Nigerian Exchange Limited (NGX) as buying interest in Guinness Nigeria plc and 16 others drove the All-Share Index 0.24 per cent higher. The All Share Index (ASI) rose by 131.64 basis points or 0.24 per cent to close at

54,496.31 points. Accordingly, investors gained N72 billion in value as market capitalisation went up to N29.683 trillion. As measured by market breadth, market sentiment was negative, as 19 stocks lost relative to 17 gainers. Tripple Gee & Company recorded the highest price gain of 9.49 per cent to close at N1.50, per share.

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

Courteville Business Solutions followed with a gain 8.33 per cent to close at 52 kobo, while Chams Holding Company rose by 7.41 per cent to close at 29 kobo, per share. Guinness Nigeria went up by 6.35 per cent to close at N67.00, while Prestige Assurance appreciated by 5.00 per cent to close at 42 kobo, per share. On the

other hand, International Energy Insurance led the losers’ chart by 6.20 per cent to close at N1.21, per share. Livestock Feeds followed with a decline of 5.45 per cent to close at N1.04, while Unity Bank went down by 3.77 to close at 51 kobo, per share. Fidson Healthcare lost 3.75 per cent to close at N9.50, while Transnational

S E C U R I T I E S

T R A D E D

QUANTITY TRADED

VALUE TRADED ( N )

MAIN BOARD

Corporation shed 3.10 per cent to close at N1.25, per share. The total volume traded increased by 26.3 per cent to 177.924 million shares, worth N5.693 billion, and traded in 3,617 deals. Transactions in the shares of BUA Foods topped the activity chart with 50.009 million shares valued at N3.720 billion. United Bank

A S O F

for Africa (UBA) followed with 25.726 million shares worth N214.875 million, while Access Holdings traded 11.373 million shares valued at N104.667 million. Sterling Bank traded 8.301 million shares valued at N12.736 million, while Computer Warehouse Group sold six million shares worth N4.933 million.

1 4 / 0 2 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˜ ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

Wednesday, February 15, 2023

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ /ŶĚĞǆ 'ĂŝŶƐ Ϭ͘ϭй dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞǆ ƌŽƐĞ Ϭ͘ϭй ƚŽ Ϯ͕ϱϴϮ͘ϯϴ

THISDAY AFRINVEST 40 INDEX

ŝŶĚĞǆ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ŐĂŝŶƐ ŝŶ DdEE ;нϭ͘ϱйͿ͕ t W K ;нϬ͘ϴйͿ ĂŶĚ ^^ ;нϭ͘ϭйͿ͘ ƵŵƵůĂƟǀĞůǇ͕ ƚŚĞƐĞ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϭϱ͘ϭй ŽĨ ƚŚĞ ŝŶĚĞǆ͘

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

Ticker

Current Price

THISDAY AFRINVEST 40

2582.38

0.10%

39.2%

158.2%

24.7%

5.2%

1,660.00

0.0%

38.3%

1.5%

18.7%

6.3%

74.40

-0.1%

8.2%

14.5%

38.4%

15.1%

14.1x

5.5x

4.7%

99.45

0.0%

7.3%

1.7%

23.3%

12.1%

37.4x

8.5x

2.8%

2.7%

245.50

1.5%

7.5%

14.2%

119.8%

14.4%

13.9x

15.0x

6.3%

7.2%

1 Airtel Africa PLC 2 BUA Foods PLC

'ƌĞĞŶ sĂů ŽŶ ƚŚĞ ŽƵƌƐĞ͘͘͘ ^/ ƵƉ ϮϰďƉƐ

3 BUA Cement Plc 4 MTN Nigeria Communications PLC

zĞƐƚĞƌĚĂǇ͕ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ DdEE ;нϭ͘ϱйͿ͕ 'h/EͲ

5 Guaranty Trust Holding Co PLC 6 Zenith Bank PLC 7 Dangote Cement PLC

E ^^ ;нϲ͘ϯйͿ͕ ĂŶĚ t W K ;нϬ͘ϴйͿ ĚƌŽǀĞ ƚŚĞ E'yͲ ^/ ƵƉ ϮϰďƉƐ ƚŽ ƉƌŝŶƚ Ăƚ ϱϰ͕ϰϵϲ͘ϯϭ ƉŽŝŶƚƐ͘ ŽŶƐĞͲ ƋƵĞŶƚůǇ͕ ƚŚĞ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ ƚŽ ϲ͘ϯй ;ƉƌĞǀŝŽƵƐůǇ͗ ϲ͘ϭйͿ ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ

ROE

ROA

P/E

4.8x

P/BV

Divindend Earnings Yield Yield

0.8x

5.5%

12.4%

1.4% 7.1%

25.10

-0.2%

4.5%

9.1%

20.5%

3.1%

4.1x

0.9x

12.0%

24.6%

25.30

-1.4%

4.3%

5.4%

20.7%

2.6%

3.1x

0.6x

12.2%

32.5%

270.00

0.0%

3.3%

3.4%

34.5%

12.8%

15.5x

5.6x

7.4%

6.4%

8 FBN Holdings Plc 9 Lafarge Africa PLC

11.60

-0.4%

2.4%

6.4%

24.6%

2.2%

2.1x

0.5x

3.0%

48.0%

26.30

0.8%

5.7%

9.6%

182.8%

14.0%

10.3%

7.6x

1.0x

3.8%

13.1%

10 Nestle Nigeria PLC

1,080.30

0.0%

1.8%

-1.8%

122.7%

13.7%

18.4x

20.7x

4.6%

5.4%

11 Access Holdings PLC

9.25

1.1%

1.9%

8.8%

19.2%

1.5%

1.8x

0.3x

2.2%

54.1%

12 SEPLAT Energy PLC

1,325.00

0.0%

1.9%

20.5%

8.6%

4.4%

11.0x

0.9x

3.2%

9.1%

13 United Bank for Africa PLC

8.35

-0.6%

1.6%

9.9%

16.5%

1.4%

2.2x

0.4x

12.0%

44.5%

14 Ecobank Transnational Inc 15 Nigerian Brew eries PLC

12.35

0.0%

1.4%

16.5%

19.9%

1.1%

2.4x

0.5x

5.4%

42.5%

40.50

0.0%

1.1%

-1.2%

10.9%

3.8%

21.1x

2.2x

3.2%

4.7%

16 Stanbic IBTC Holdings PLC

34.50

0.0%

1.1%

3.1%

20.2%

2.7%

5.2x

1.1x

10.1%

19.3%

17 Okomu Oil Palm PLC

181.20

0.0%

1.1%

9.8%

52.7%

30.7%

10.0x

4.6x

1.1%

10.0%

18 Fidelity Bank PLC

5.36

-1.1%

1.0%

23.2%

15.5%

1.3%

3.3x

0.5x

1.8%

30.3%

19 International Brew eries PLC 20 Flour Mills of Nigeria PLC

4.70

2.2%

0.8%

0.0%

-5.0%

-1.7%

30.00

0.2%

0.8%

5.6%

11.4%

2.5%

5.9x

0.6x

7.2%

17.1%

21 Guinness Nigeria PLC

67.00

6.3%

0.4%

-3.3%

13.4%

5.1%

13.5x

1.9x

10.7%

7.4%

22 FCMB Group Plc

4.60

-2.1%

0.5%

19.5%

12.7%

1.2%

2.8x

0.3x

4.3%

35.6%

23 United Capital PLC

15.30

0.7%

0.4%

9.3%

46.0%

2.6%

7.1x

3.1x

9.8%

14.2%

24 AXA Mansard Insurance PLC

2.00

0.0%

0.4%

0.0%

3.6%

1.0%

7.7x

0.6x

3.0%

13.0%

25 Presco PLC

150.80

0.0%

0.4%

9.7%

53.4%

13.5%

7.8x

3.5x

1.4%

12.8%

26 Dangote Sugar Refinery PLC

17.25

1.2%

0.4%

7.5%

23.8%

7.9%

6.7x

1.5x

5.8%

15.0%

27 PZ Cussons Nigeria PLC

10.00

0.0%

0.2%

-11.9%

29.2%

9.7%

3.6x

1.0x

10.0%

27.8%

28 Transnational Corp of Nigeria 29 Wema Bank PLC

1.25

-3.1%

0.3%

10.6%

17.6%

4.1%

3.2x

0.5x

1.6%

31.0%

4.09

-1.0%

0.2%

4.9%

16.9%

1.0%

3.9x

0.7x

5.9%

25.9%

&ZͲ/ d ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ Ϭ͘ϳй

30 TotalEnergies Marketing Nigeri

218.80

0.0%

0.2%

13.4%

31 Union Bank of Nigeria PLC

6.65

0.0%

0.1%

3.9%

4.1%

0.4%

9.6x

0.7x

ĂŶĚ Ϭ͘ϰй ƐĞƋƵĞŶƟĂůůǇ ďƵŽǇĞĚ ďǇ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ

32 Custodian and Allied Insurance

6.05

0.0%

0.1%

1.7%

18.4%

5.5%

3.3x

0.6x

8.3%

33 Jaiz Bank PLC

0.90

0.0%

0.1%

-2.2%

24.5%

1.6%

5.9x

1.4x

4.4%

17.0%

ĂĐƟǀŝƟĞƐ ŝŶ DdEE ;нϭ͘ϱйͿ͕ 'h/EE ^^ ;нϲ͘ϯйͿ͕ ĂŶĚ

34 Julius Berger Nigeria PLC

24.50

0.0%

0.1%

0.0%

16.9%

1.9%

3.4x

0.7x

10.0%

29.5%

35 Unilever Nigeria PLC

13.25

1.1%

0.1%

14.2%

8.9%

5.2%

12.7x

1.1x

3.8%

/Ed Z t ;нϮ͘ϮйͿ͘ ůƐŽ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ

36 Oando PLC

3.93

1.3%

0.1%

0.3%

37 Sterling Bank PLC

1.52

0.7%

0.1%

8.6%

12.4%

1.1%

2.4x

0.3x

ƌŽƐĞ ϰďƉƐ ĚƵĞ ƚŽ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ t W K ;нϬ͘ϴйͿ͘

38 Champion Brew eries PLC

4.78

0.0%

-13.1%

16.8%

11.7%

23.3x

3.6x

4.3%

39 Notore Chemical Industries Ltd

62.50

0.0%

-13.0%

-2.8%

1.9x

-18.9%

40 Transcorp Hotels Plc

6.05

0.0%

-3.2%

ŐĂŝŶĞĚ ʬϳϭ͘ϳďŶ ƚŽ ʬϮϵ͘ϲƚŶ͘ DĞĂŶǁŚŝůĞ͕ ĂĐƟǀŝƚǇ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ Ϯϲ͘ϯй ĂŶĚ ϴϬ͘Ϯй ƚŽ ϭϳϳ͘ϵŵ ƵŶŝƚƐ ĂŶĚ ʬϱ͘ϳďŶ ƌĞͲ ƐƉĞĐƟǀĞůǇ͘ DŝǆĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ƉƵƌǀŝĞǁ ǁĂƐ

ŵŝǆĞĚ ĂůďĞŝƚ ƉŽƐŝƟǀĞůǇ Ɵůƚ ĂƐ ϯ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ Ϯ ŝŶͲ ĚŝĐĞƐ ůŽƐƚ ǁŚŝůĞ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ

ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘ϱй ĂŶĚ Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƐĞůůŽīƐ ŝŶ E/d, ;Ͳϭ͘ϰйͿ͕ &/ >/dz ;Ͳϭ͘ϭйͿ͕ // K ;Ͳϭ͘ϳйͿ͕ ĂŶĚ KZE Z^d ;Ͳϭ͘ϲйͿ͘ KƵƚůŽŽŬ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ǁĞĂŬĞŶĞĚ ƚŽ ͲϬ͘Ϭϯǆ ĨƌŽŵ Ϭ͘ϭϮǆ ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ ϭϳ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ͕ ϭϵ ĚĞĐůŝŶĞĚ ǁŚŝůĞ ϳϬ

ŚƵŶƟŶŐ ĂĐƟǀŝƟĞƐ

ĨƌŝŶǀĞƐƚ tĞƐƚ ĨƌŝĐĂ >ŝŵŝƚĞĚ

4.5x

1.8%

-12.1%

P ric e C hg %

1.0x

1.2%

T ic k er

Vo lum e

P ric e C hg %

1.50

9.5%

B UA F OOD S

50.0

-0.1%

8.3%

UB A

25.7

-0.6%

CHA M S

0.29

7.4%

A C C ESSC OR P

11.4

1.1%

8.3

0.7%

GUIN N ESS

67.00

6.3%

ST ER LN B A N K

P R EST IGE

0.42

5.0%

C WG

6.0

0.0%

5.6

0.0%

C A D B UR Y

12.00

4.8%

IN T B R EW

4.70

2.2%

Z EN IT H B A N K

5.1

-1.4%

CHA M S

4.9

7.4%

C OUR T VILLE

4.6

8.3%

WA P C O

4.5

0.8%

M TNN

245.50

1.5%

OA N D O

3.93

1.3% 1.2%

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s T ic k er

P ric e

IN T EN EGIN S

1.21

7.8%

6.6%

0.52

17.25

30.5%

-228.8%

C OUR T VILLE

D A N GSUGA R

22.1% 10.4%

T R IP P LEG

ĐůŽƐĞĚ ŇĂƚ͘ dŽĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ĂŶ ĞǆƚĞŶĚĞĚ ƉŽƐŝƟǀĞ ŽƵƟŶŐ ŝŶ ƚŚĞ ŶĞǆƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĚƌŝǀĞŶ ďǇ ďĂƌŐĂŝŶ

P ric e

-5.4%

T o p 10 T r a d e s b y V o l u m e

T o p 10 G a in e r s T ic k er

0.9x

P ric e C hg % -6.2%

LIVEST OC K

1.04

-5.5%

UN IT YB N K

0.51

-3.8%

F ID SON

9.50

-3.7%

T R A N SC OR P

1.25

-3.1%

UP D C R EIT

3.15

-3.1%

T ic k er

Value

B UA F OOD S

3720.5

P ric e C hg % -0.1%

SEP LA T

270.2

0.0%

M TNN

262.0

1.5%

228.9

0.0%

UB A

214.9

-0.6%

Z EN IT H B A N K

127.9

-1.4%

116.7

0.8%

UP D C

0.96

-3.0%

WA P C O

FCM B

4.60

-2.1%

A C C ESSC OR P

104.7

1.1%

77.2

-0.2%

47.4

0.7%

A IIC O

0.59

-1.7%

GT C O

C OR N ER ST

0.60

-1.6%

UC A P

ƌŽŬĞƌĂŐĞ

ƐƐĞƚ DĂŶĂŐĞŵĞŶƚ

/ŶǀĞƐƚŵĞŶƚ ZĞƐĞĂƌĐŚ

ĚĞĚŽǇŝŶ ůůĞŶ ͮ ĂĂůůĞŶΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ

ZŽďĞƌƚ KŵŽƚƵŶĚĞ ͮ ƌŽŵŽƚƵŶĚĞΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ

ďŝŽĚƵŶ <ĞƌŝƉĞ ͮ <ĞƌŝƉĞΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ

dĂŝǁŽ KŐƵŶĚŝƉĞ ͮ ƚŽŐƵŶĚŝƉĞΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ

ŚƌŝƐƚŽƉŚĞƌ KŵŽŚ ͮ ĐŽŵŽŚΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ

ĂŵŝůĂƌĞ ƐŝŵŝǇƵ ͮ ĚĂƐŝŵŝǇƵΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ

42.4%

WEDNESDAY, FEBRUARY 15, 2023 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 13Feb-2023, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 199.63 200.78 5.56% Afrinvest Plutus Fund 100.00 100.00 11.26% Nigeria International Debt Fund 318.75 318.75 3.24% Afrinvest Dollar Fund 106.39 107.49 0.92% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 12.18% AIICO Balanced Fund 4.64 4.71 36.54% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 8.61% Anchoria Equity Fund 154.46 156.11 6.57% Anchoria Fixed Income Fund 1.22 1.22 -0.55% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 23.52 24.23 7.17% ARM Discovery Balanced Fund 549.52 566.09 5.43% ARM Ethical Fund 46.65 48.05 3.39% ARM Eurobond Fund ($) 1.13 1.13 0.67% ARM Fixed Income Fund 1.12 1.12 1.09% ARM Money Market Fund 1.00 1.00 10.14% ARM Short Term Bond Fund 1.04 1.04 0.79% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund N/A N/A N/A AVA GAM Fixed Income Naira Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.14 2.14 3.81% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.37 2.41 7.87% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 1.02% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 12.30% Paramount Equity Fund 18.53 18.87 7.68% Women's Investment Fund 152.42 154.30 5.92% CHD Nigeria Bond Fund 108.34 108.34 10.88% CHD Nigeria Dollar Income Fund 1.06 1.06 9.32% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A Cordros Fixed Income Fund N/A N/A N/A Cordros Halal Fixed Income Fund N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn 1.00 1.00 11.76% Coronation Money Market Fund 1.22 1.23 2.27% Coronation Balanced Fund 1.37 1.37 -2.53% Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn 100.00 100.00 10.08% EDC Nigeria Money Market Fund Class A 1,000,000.00 1,000,000.00 11.41% EDC Nigeria Money Market Fund Class B 1,114.97 1,118.34 0.69% EDC Nigeria Fixed Income Fund EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1492.42 1492.42 12.51% FBN Balanced Fund 210.77 212.28 5.55% FBN Halal Fund 124.81 124.81 12.87% FBN Money Market Fund 100.00 100.00 13.08% FBN Dollar Fund 121.17 121.17 6.88% FBN Smart Beta Equity Fund 177.53 180.17 7.20% FBN Specialized Dollar Fund 105.17 105.17 9.34% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.84% Legacy Debt Fund 3.55 3.55 -11.33% Legacy Equity Fund 2.09 2.13 20.14% Legacy USD Bond Fund 1.27 1.27 5.27% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1

Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

Bid Price 4,365.70 3,748.00 100.00

Offer Price 4,397.60 3,748.00 100.00

Yield / T-Rtn 31.11% 8.01% 12.10%

FSDH Dollar Fund 1.14 1.14 5.80% GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.80 1.83 3.22% Lotus Halal Fixed Income Fund 1,170.22 1,170.22 0.86% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.71 101.71 8.95% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.38% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 128.86 134.71 0.05% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.00 1.00 11.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,802.36 3,833.65 12.18% Stanbic IBTC Bond Fund 246.22 246.22 4.52% Stanbic IBTC Ethical Fund 1.52 1.53 21.03% Stanbic IBTC Guaranteed Investment Fund 334.94 334.94 6.97% Stanbic IBTC Iman Fund 275.86 278.93 18.05% Stanbic IBTC Money Market Fund 1.00 1.00 12.91% Stanbic IBTC Nigerian Equity Fund 12,947.26 13,104.91 18.59% Stanbic IBTC Dollar Fund (USD) 1.38 1.38 6.49% Stanbic IBTC Shariah Fixed Income Fund 121.94 121.94 4.30% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 116.13 116.13 9.17% Stanbic IBTC Absolute Fund 4,613.08 4,613.08 8.44% Stanbic IBTC Aggressive Fund 3,445.04 3,488.71 23.92% Stanbic IBTC Conservative Fund 4,359.09 4,376.01 14.51% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.02 1.04 6.97% United Capital Balanced Fund 1.54 1.56 12.35% United Capital Wealth for Women Fund 1.21 1.23 4.01% United Capital Sukuk Fund 1.12 1.12 10.04% United Capital Fixed Income Fund 1.97 1.97 7.38% United Capital Eurobond Fund 126.18 126.18 5.54% United Capital Money Market Fund 1.00 1.00 11.58% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 14.42 14.55 3.96% Zenith ESG Impact Fund 16.44 16.60 3.97% Zenith Income Fund 23.77 23.77 0.90% Zenith Money Market Fund 1.00 1.00 10.92% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 4.51 4.61 12.19% Vetiva Consumer Goods Exchange Traded Fund 6.10 6.20 4.44% Vetiva Grifﬁn 30 Exchange Traded Fund 19.78 19.98 11.78% Vetiva Money Market Fund 1.00 1.00 10.39% Vetiva Industrial Goods Exchange Traded Fund 24.64 24.84 23.19% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 140.40 142.40 -10.94% REITS NAV Per Share

Yield / T-Rtn

114.09 53.06 101.31 9.92

7.63% 3.98% -13.13%

Bid Price

Offer Price

Yield / T-Rtn

16.69 141.69 110.33 17.40 16.40

16.79 144.16 112.24 17.50 16.50

7.86% 11.04% 10.35% -1.31% 2.88%

NAV Per Share

Yield / T-Rtn

106.75

0.00%

Fund Name

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

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY, FEBRUARY 15, 2023 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

New Al-Qaida Leader Commanding from Iran More than six months after the United States killed al-Qaida leader Ayman al-Zawahiri in an airstrike in Kabul, Afghanistan, the terror group’s leadership appears to have quietly passed to his heir apparent in Iran. A new report from the United Nations, based on member state intelligence, concludes Saif al-Adel “is now the de facto leader of al-Qaida, representing continuity for now.” Al-Qaida has been quiet about its leadership status following the July 31 strike that killed al-Zawahiri. The report points to two reasons for the silence. Al-Adel’s leadership “cannot be declared because of al-Qaida’s sensitivity to Afghan Taliban concerns not to acknowledge the death of [Ayman] al-Zawahiri in Kabul and [al-Adel’s] presence in the Islamic Republic of Iran,” the report states. “His location raises questions that have a bearing on al-Qaida’s ambitions to assert leadership of a global movement in the face of challenges,” including from its rival, the Islamic State terror group, the report adds. Western intelligence agencies, including those in the United States, have long viewed al-Adel as a likely successor to al-Zawahiri, describing the former Egyptian special forces officer as a capable commander with vast operational experience in multiple locations. Africa Relations with China, Russia Not Support for New World Order: Report The annual report of the Munich Security Conference has found that global attitudes toward Russia and China have shifted since the latter invaded Ukraine, including in Africa. The report says African countries’ discontent with the West has not translated into a desire for Beijing or Moscow to wield greater influence over the international order. A 176-page report released by the Munich conference, an independent annual forum focused on international security, found that Africa is not interested in supporting a global order led by China and Russia. According to the report, African countries’ attitudes toward Russia and China are changing due to Moscow’s invasion of its neighbour Ukraine. Critics have accused African governments of failing to speak out against Russia’s aggression and refusing to economically and diplomatically isolate the nation. In a United Nations General Assembly vote in March 2022, 38 African countries condemned Russia’s war on Ukraine, while 16 countries abstained. David Otto is head of security and defence analysis for the Centre for Africa Security and Security Studies. He said African countries’ behaviour in the international system confuses many people. The authors say Africa is dissatisfied with the global system led by Western countries and is also opposed to Russia and China gaining greater influence in the international system.” Australia: Iranian Surveillance Plot Foiled Australian security agencies say they have shut down a foreign interference plot by Iran. The conspiracy allegedly included individuals conducting surveillance of the home of an Iranian-Australian, linked to Australian protests about the death of Mahsa Amini in Iran last year. Australia Home Affairs Minister Clare O’Neil revealed the alleged conspiracy in a speech Tuesday at the Australian National University. She said an Iranian-Australian was targeted by perpetrators taking orders from Iran and that the Australian Security Intelligence Organisation had uncovered the plot. O’Neil said her government would not “tolerate hostile acts in the form of surveillance, harassment or intimidation against individuals or family members…in Australia.” “We have here someone living in our country who is being followed, watched, photographed, their home invaded by people at the direction of a foreign power,” she said. “This is happening in Australia, and it is something that ASIO was onto it like a shot. So, I want people to understand to those states who operate in the shadows; we have a simple message — we are watching you.” Since last September, Iran’s theocratic regime has been under pressure by domestic protests in response to the death in police custody of 22-year-old Mahsa Amini. Australia has condemned what it calls Iran’s “brutal response” to the demonstrations.

They underlined their backing for a “comprehensive, just and lasting peace in the Middle East, which must be achieved through direct negotiations between the parties.” “We continue to closely monitor developments on the ground which impact the viability of the two-state solution and stability in the region at large,” they added. Israel’s security cabinet announced on Sunday that it would legalize nine settlements in the occupied West Bank following a series of attacks in east Jerusalem, including one that killed three Israelis. These so-called “wild” settlements were built without authorization from the Israeli government. US Secretary of State Antony Blinken, who signed up to Tuesday’s statement, had on Monday already criticized Israel’s plans on advancing settlements.

Taiwan Threatens to Shoot Down Chinese Balloons Amid speculation over alleged Chinese spy balloons, Taiwan’s Defence Ministry said Tuesday it would shoot down any suspected military object coming close to its shores from mainland China. Maj. Gen. Huang Wen-chi, the assistant deputy chief of general staff for intelligence, told reporters that the self-governing island was on guard for any incursions but had yet to find any that had penetrated its defences. Balloons found so far around Taiwan were used for meteorological exploration, he said. They were relatively small and light and would burst after rising to an altitude that could be threatening. Taiwan has yet to find targets requiring a lethal response, he said. China, which claims Taiwan as its territory to be reunited by force if necessary, regularly sends fighter jets and other military assets into Taiwan’s airspace and sea lanes. Chinese Foreign Ministry spokesperson Wang Wenbin called the US downing of the Chinese balloon a “clear overreaction.” Beijing says it was an unmanned airship made for meteorological research that had been blown off course.. US Defence Expects Ukraine to Conduct Spring Offensive US Defence Secretary Lloyd Austin said Tuesday he expects Ukraine to conduct a new military offensive this spring to counter Russian attacks while assuring the Kyiv government that the United States and its Western allies remain resolute in their support of its war effort. “The Kremlin is still betting that it can wait us out,” Austin said in Brussels at a meeting of NATO defence ministers to discuss coordination of new military assistance for Ukraine. More armaments are being sent by the day, but Kyiv is asking Western governments to send it advanced fighter jets, something the West has under consideration. “I don’t have any announcement to make today,” Austin said. Ahead of the first anniversary of Russia’s invasion of Ukraine on February 24, Austin said, “We stand united in our support for Ukraine’s fight for freedom. And we will stand together, united and resolute for as long as it takes.” He added, “What Ukraine wants

to do in the first possible moment is to establish or create momentum and establish conditions on the battlefield that continue to be in its favour.” General Mark Milley, the chairman of the Pentagon’s Joint Chiefs of Staff, cautioned that a Ukraine victory is not assured and Russia is continuing its assault on the industrialized eastern Donbas region. Air India Seals 250 Plane Order With Airbus as Part of Mega Jet Deal Air India has agreed to buy 250 jets from Airbus AIR.PA, part of a mammoth deal for 470 planes that is also expected to include 220 Boeing BA.N jets, as the airline heralds a decades-long transformation under its new owners, Tata Group. The Airbus order includes 210 A320neo narrowbody planes and 40 A350 widebody aircraft, which Air India will use to fly “ultra-long routes across the globe,” Tata Chairman N Chandrasekaran said on Tuesday. The combined 470-jet order is the largest by a single airline. Coupled with roughly 25 more Airbus jets that Air India plans to lease to meet its immediate needs, it touches the 500mark, confirming a scale first reported by Reuters in December. Analysts said it displays India’s ambition to be one of the world’s biggest aviation markets with its growing base of fliers and large diaspora across the world. The order also marks a turning point for Air India, which, under new CEO Campbell Wilson, is working to revive its reputation as a world-class airline and shake off its image as a tardy, run-down operation with an ageing fleet and poor service..” Western Powers ‘Strongly Oppose’ Israel Settlement Moves The foreign ministers of five Western powers said Tuesday they were “deeply troubled” by the Israeli government’s decision to legalize nine West Bank settlements and build thousands of new units. The ministers from Britain, France, Germany, Italy and the United States said: “We strongly oppose these unilateral actions which will only serve to exacerbate tensions between Israelis and Palestinians and undermine efforts to achieve a negotiated two-state solution.”

Nikki Haley, Ex-US Envoy to UN, Announces 2024 Republican Presidential Bid Former South Carolina Governor Nikki Haley said Tuesday she is running for the 2024 Republican presidential nomination against her one-time boss, former President Donald Trump, who appointed her as the US ambassador to the United Nations. Haley, 51, announced in a social media video, saying, “Joe Biden’s record is abysmal. It’s time for a new generation of leaders.” The three-and-half-minute video never mentioned Trump, who, in November, announced he also is seeking the Republican nomination to try to reclaim the presidency he lost to Biden in the 2020 election. The video highlights her early years in South Carolina as the daughter of immigrant Indian Punjabi Sikhs, how she became governor from 2011 to 2017 and then resigned to become Trump’s UN ambassador in 2017 and 2018. “The Washington establishment has failed us over and over again,” she declared. Haley, at one time, said she would not run for president if Trump were also in the field. But rather than taking aim at him in the video, she showed the faces of the usual Republican targets: Democrats Biden, Vice President Kamala Harris, former House Speaker Nancy Pelosi, Senator Bernie Sanders of Vermont and Representative Alexandria Ocasio-Cortez of New York. Ugandan Lawmakers Get Bail After 17 Months without Trial Opposition leaders welcomed the release on bail Monday night of two legislators allied with the National Unity Platform, led by Bobi Wine. Despite several bail applications by lawyers in recent months, the prosecutor had blocked the requests on the grounds the legislators would interfere with the investigations. The legislators, Allan Ssewanyana and Muhammed Segirinya, were incarcerated for 17 months on charges including murder, attempted murder, and aiding and abetting terrorism. They were held despite a law requiring that suspects in criminal cases be automatically granted bail after being held for six months on remand. Early this month, Supreme Court Chief Justice Alfonse Owiny-Dollo condemned the delayed prosecution of the two legislators and demanded that the state begin their trial whether prepared or not. The chief justice warned the public prosecution office not to be an accomplice in denying anyone justice. The leader of the opposition in parliament, Mathias Mpuuga, said the matter of the two legislators was not an issue of prosecution but instead of persecution for their political views. The charges stemmed from the men’s alleged involvement in 26 killings that took place in Uganda’s Central districts of Lwengo and Masaka between March and June 2021. Most of the victims were elderly members of society who were killed with machetes. The bail applications for the two legislators were based on what their lawyers said were medical conditions that needed care, which prison facilities were not providing. Lawyer Samuel Muyizzi said both of the just-released legislators were rushed to hospitals for urgent medical attention.

WEDNESDAY FEBRUARY 15, 2023 • T H I S D AY

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

TRIBUTE My Brother, Timothy Oluwakayode Oluwasesan Ogunnubi @60 Tola Ogunnubi

y mother once told me by quoting Williams Shakespeare that “Ingratitude is worse than a traitor’s arm”. This has been my life’s driving principle growing up while watching my brother since I enrolled under his tutelage. Emi Tola mo ore. Words fail me to pay a deserving tribute to perhaps the greatest brother that ever trod the face of planet earth. Exactly 6 decades today, a fine, intelligent, extremely humble, quintessential gentleman was born into the Pa Isaac Ayorinde Ogunnubi clan in Ijeh-Obalende (now Dolphin Estate) area of Lagos State of Nigeria. He is the 1St son and 1st child, I am the 1st son and 1st child from the rear of our parents. We have a lot of things in common. But above all, he is such a rare gem. An enigma with immense outstanding personality. A very admirable gentle fine man with distinguished character. He had a most precocious growth and excelled in academics, life’s school and character. I am a living testimony of your magnanimity, your direct benevolence of a good heart speaks volumes in my life. I benefitted and got spoilt by you. I chop your money no be small (smiles). From the Lagos State Model College, Kankon, Badagry to UNILAG, he ensured I had a good academic wellbeing devoid of worries or distarctions. He went out of his ways for me, and he taught me and my other siblings, the gizmo of spartan discipline, the ethos of hygienic living, the greatness of erudition, the obligation of goodness, the merits of integrity and the love of kindness. A brother who always has the answers to your problems. Whilst you see the problem, he sees the prospect and the possibility. He will go out of his way to give you the best support possible. Brother, thank you for giving me the best of the opportunities available. Christened Oluwakayode Timothy Oluwasesan, he began a family anchored on the principled ideals of morality, resilience, good heritage, stability, forthrightness and uprightness. As a young lad, I found an instant model and worthy mentor in my brother, in whom I could trust, emulate and fashion my life after. Kayode as he is fondly called, epitomises grace and character, extremely neat and fashionable, brilliant and reserved. Entrepreneur

From L-R Tola Ogunnubi and the celebrant Oluwakayode Ogunnubi extraordinaire, Prolific Land administrator, successful Estate Valuer, and distinguished Family Man. Kayode, the primogenitor of many firsts that lends irrevocable credence to how much commitment he invests in his personal endeavour. He made sure we never lacked as his younger ones even after the death of our parents. The responsibilities were much and tasking but with an ever understanding and supportive wife, there

were no issues. A core hard worker, a complete homely husband, a reliable and responsible brother, an urbane technocrat and a chronic motivator. Supportive to a fault, defender to the end, his corrective eyes speak a million words till date. He was clearly a shining light in those days at CMS Grammar School, Bariga Lagos. After his A levels, he went to the prestigious Yaba College of Technology and equally went to the

University of Nigeria (UNN) where he was the best graduating student in his time. I am deeply proud of him. He came back to Lagos and enrolled in the University of Lagos, Akoka Yaba for both his M.Sc and MBA. Married to a beautiful woman with a beautiful heart, Patience Olamide Ogunnubi they are blessed with 2 lovely children. Timothy Ogunnubi introduced and put in place the process of applying and being issued Certificates of Occupancy within 90 days of payment. This made the Governor sign a backlog of 2500 certificates in a day, the first in the country. As a pacesetter, he was able to set in motion and reposition the Lands Bureau in Lagos state to aid it in providing more professionalized services. Because of his professionalism and dedication to work, he was elevated to the position of a Permanent Secretary in the Lagos State Civil Service. I will never forget his resounding advice wherever I go- ‘Don’t ever forget the child of whom you are. Remember you have the glorious name of this family to protect’. This ensures I never stray away no matter what. As the first child of the family from the rear, I make bold to say that I am a direct beneficiary of your large-heartedness, cerebral gratification, good name, largesse and uncommon wit. On this occasion of your birthday celebration and retirement from the public service of Lagos State today, I wish you more successes, long life, a bountiful harvest of your worthy and deserving investment on career and family, sound health, peace of mind, a speedy accomplishment of your yet elusive dreams and above all, all you wish yourself. I celebrate you and I want you to know that we may not always agree on so many things maybe because I have my looks after you because we both took it from our father or because you are now getting old (smiles) as a younger version of you, I want you to know today that you are a rare gem and I love you. You are a good great man. Friends and family, may I humbly request that you wish my brother and role model a happy birthday for me, thank you all. Tola Ogunnubi FILRMN, ANIPR Deputy Head, Corporate Affairs, Nigerian Agricultural Insurance Corporation, NAIC, Abuja

Obaseki Urges Use of Technology to Reduce Delays, Enhance Transparency in Procurement Process Edo State Governor, Mr. Godwin Obaseki, has advocated the use of technology to reduce delays and promote accountability and transparency in the state’s procurement procedures. A statement quoted Obaseki to have made the call at a one-day procurement workshop with the theme: “Public Procurement: Complying with the Law, Eliminating Delays,” held in Benin City. He said, “We are trying to ensure that we deliver services promptly to our citizens, and when we delay, we increase the cost significantly for the government. “There is a need for us to take the process of procurement very seriously. We are improving value retention with better quality work being done in all spheres, including roads and buildings, among others, and showing that something is going on right in our procurement process

but the bad habit of the past is still present with some of us.” Obaseki continued: “Hence, this workshop is to remind us that the process of procurement is very important for us as it is about obtaining value for the money put under our care, and remind us of the expectations and behaviours expected of us which if we don’t abide by, the system suffers. “We fail to realise that we are holding public trust. Taxpayers’ revenues are appropriated and put under our care to procure goods and services. Is that process of procuring using money under our care for the generality of our people being done right or abused? “We are one of the first states to have adopted e-procurement and promulgated a law to support the process.” According to him, “When you go against the provisions of the procure-

ment act, you’re doing something criminal and it’s justiceable. So, if you have not read the procurement laws of 2020, please do so to avoid being easy targets for prosecution as ignorance is not an excuse. “We have now passed that stage where you can just do it and get away with it. There are legal repercussions. Commissioners and Permanent Secretaries procuring in their agencies without a procurement planning committee can be charged and put in prison. A few senior public officials are being investigated now and unfortunately, they are going to be tried for things like this and that is going to be the way going forward.” “When you look at the procurement law against a cashless society, it becomes easy to just see and explain how things have happened.” The governor further added, “Things are changing. It has become

easy to analyse huge amounts of data through technology. Also, people talk and it is very difficult to undertake a crime alone. There is so much information available today that it is increasingly difficult today to keep secrets. So, it’s important to do things properly. The e-government platform is also there to help us deliver services properly to our citizens “We have one of the strongest

masse to vote for Tinubu in next week’s presidential election, as well as all the APC candidates contesting in the forthcoming general election. Sanwo-Olu, who spoke at the APC presidential rally in Owerri, said, “I bring you greetings from the Centre of Excellence to the state of great hope to show that there is a handshake across the Niger, where all your people are. They want me to come here to tell you that even the Ndigbo in Lagos are with Asiwaju. “So, we have come here to show

you that we are the same. That is why I have come down here to show solidarity with the great hope in Imo State and the hope that is renewed for Nigeria under the able leadership of our presidential candidate, Asiwaju Bola Ahmed Tinubu. “We want to thank you, Mr. President, for keeping to your word that you will join us on the campaign train in all of the regional states in the country. We want to thank you, sir, for coming down here to show everyone that indeed

competitiveness, accountability, and ethical standards. “There should be broad participation by various firms and contractors bidding for a contract rather than limiting it to just a few as the process will open. That way, we will be getting the best. We must be ethical in our procedures as you use public funds for what they are meant for,” he added.

US Restates Confidence in Nigeria’s Electoral Process Michael Olugbode in Abuja The United States Assistant Secretary of State for African Affairs, Molly Phee, has expressed confidence

At Imo Rally, Sanwo-Olu Drums Support for Tinubu Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday, urged the people of Imo State to vote for the presidential candidate of the All Progressives Congress (APC), Bola Tinubu at the Saturday February 25 presidential poll. He said the Ndigbo in Lagos State were already with Tinubu for his victory in the presidential election, and therefore urged all Ndigbo, particularly the people of Imo State and Nigerians at large to bring about renewed hope by coming out en

procurement agencies in the country and today, states come to understudy our procurement process. We know what to do so we must do what we need to do.” On his part, the Managing Director, Edo State Public Procurement Agency, Mr. Henry Idogun, noted that the hallmark of proficient public procurement are fairness, reliability, economy, efficiency, transparency,

you are a President for all. “We want to thank you for the great Igbo community and I bring you greetings from all of us in Lagos that we stand with you across the Niger. We stand with you believing that the renewed hope is here and the great hope of Imo is also here. “Let us go out next week Saturday and do the right thing; do the rightful thing and bring about a renewed hope under the hope of Imo into the Presidency of the Federal Republic of Nigeria. God bless you all.”

in the ongoing electoral process in Nigeria. Phee, who has been in Nigeria for a week-long engaging with civil society organisations, youths, the private sector, religious leaders, election officials, political party leaders and government representatives, gave the pass mark during a roundtable with journalists at the US Embassy in Abuja, yesterday. Phee, in her comments on the pockets of violence to the build-up to the election, the scarcity of naira notes and the call for an interim government in some quarters, said: “We hope there would be no violence before, during and after the general elections. “You have a good history from 1999 that you get stronger after each election and we are very proud of that. The US has a strong confidence

in the election.” She revealed that her country has so much interest in Nigeria because of the critical position the country occupies in the sub-region, Africa and the world at large. She noted that Nigeria has a very robust electoral system that would ensure free, fair and credible general elections. The US official while commending the peace accord signed by political actors which was geared towards ensuring a peaceful exercise, called on all Nigerians to shun actions that would undermine the democratic processes. She challenged all Nigerians to show interest in the ongoing electoral process by fully getting involved. She said: “INEC has assured that it is prepared to hold the election. That’s why Nigerians should take ownership of the election.”

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

NIKKAH CEREMONY BETWEEN ABDULWARITH MOBOLAJI AND SARAT TEMITAYO... L-R: Father of the Bride, Bayo Alabidun;Former chairman of Punch Nigeria Limited, Chief Ajibola Ogunshola; the Groom Abdulwarith Mobolaji, the bride, Sarat Temitayo;Father of the Groom,Dauda Olawale,and Admin Judge Lagos,Oyekan Abdullai At the Nikkah ceremony between Abdulwarith Mobolaji and Sarat Temitayo held in Lagos... recently

Buhari to South East Leaders: It’s Better We Carry On Together Says he’ll continue to showcase Tinubu as APC candidate Presents him to Imo traditional council, urges national cohesion I want to be, I deserve to be president, ex-Lagos gov declares Deji Elumoye in Abuja President Muhammadu Buhari, yesterday, to the people of the South East region of the country that, having been through thick and thin, it was better they carried on together as country. Speaking in Owerri, the Imo State capital, at a meeting with members of the state’s Traditional Council, Buhari reiterated his readiness to continue to showcase Bola Tinubu as the presidential standard bearer of the ruling All Progressives Congress (APC). The President said he had already followed Tinubu to some states, including Nasarawa, Katsina and Sokoto and was prepared to showcase the candidate in more places, adding also that, he had come to present him (Tinubu) to the traditional council and indigenes of the state. The Council at the meeting honoured Buhari with a traditional title, "Nwanne D'namba'', A Brother in Diaspora. The President thanked Eze Imo, His Royal Majesty, Eze Dr Emmanuel Chukwuagina Okeke, for the recognition, assuring him that he would continue to demonstrate his love for the South East and citizens. "I thank you so much for this honour that I will continue to remember for the rest of my life. Thank you for getting all the senior citizens to receive us. We have

experienced difficult times as a country and discovered that it is better to carry on together," he said. President Buhari noted the value of shared national vision that enhances cohesion, urging more harmony across state and national levels as "good neighbours." The President urged Nigerians to remain good neighbours and show themselves as one, saying, "God has brought us here, and the party also brought us to you." In his remarks, Tinubu thanked the Imo Traditional Council for the recognition on Valentine's Day, saying, "I pay respect to all the traditional rulers that have received us at the palace. I present myself as the most capable and competent person to step into the shoes of the man you have just honoured. "I want to be, and deserve to be the President and I will follow the footsteps of President Buhari, when elected, not if elected. I will consolidate on our unity, development and camaraderie. It is only in peace that we can develop. "You mentioned upgrading of educational institutions. Education is the greatest weapon we can deploy against poverty. We are here today because of the benefit of education,'' the presidential candidate said. Governor Hope Uzodinma of Imo State, said the honour was well deserved, considering the historical impact of President Buhari's administration on infrastructure in

the state, with upgrade of higher institutions, road constructions and appointments in key positions. According to him, the inauguration of the MCC road in the central city by the President further revealed the penchant for approving projects that would improve the livelihood of the people. "Words are not enough to show

our appreciation to the president," the governor said, noting that crude oil theft in the state had been halted by creation of a naval base by the president, and more security structures had been put in place for the wellbeing of the people. His words: "To further show love by our people on Valentine's Day, our people have agreed to support

of political actors during election campaigns, expressed recently through cases of incitement, as well as attacks on campaign convoys and individuals in some states, is unacceptable. The failure of the authorities to bring to justice those responsible for deadly violence during previous elections has created an atmosphere of impunity and emboldened others. “There is a pattern of genderbased violence, like threatening women and girls with rape designed to intimidate or prevent them voting, that must cease. Nigerian authorities must uphold their human rights obligations under international law and the Nigerian Constitution of 1999 (as amended) by making sure that advocacy of hatred that constitutes incitement to discrimina-

Chukwuagina Okeke, on his part, appreciated the Nigerian leader for love shown to the South East, and sustained legacy of promoting peace and harmony in the country. He said giving the president the friendship title on Valentine's Day reflected a new level of relationship inspired by t Buhari's integrity, magnanimity and charity.

Atiku: PDP Will Form the Next Government Adedayo Akinwale in Abuja and Gideon Arinze in Enugu

Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has boasted that the the main opposition party would form the next government after the February 25 presidential bout. Atiku, who stated this yesterday during the presidential campaign of the party in Enugu State, reiterated that he was going to be the stepping stone for Igbo presidency. The former vice-president said, "When I came here a few months ago to attend a zonal conference of the South East, I said to the Igbos I am going to be the stepping stone to the Igbo presidency. And I mean it. Whether an Igbo man is from the South East or South South, it is the same race and today, my running mate is an Igbo man. It is a universal

ethnic group, it is a universal race. "So, my fellow brothers and sisters, the people of Enugu State, I want you to continue believing and I want you to continue supporting the PDP because PDP is Enugu and Enugu is PDP. I want to let you know that this country is geared towards electing a PDP government. Do not be an exception and do not be a minority. The next government is going to be formed by the PDP. "Therefore, as you have always been, be in the mainstream of Nigerian politics because that is the only way that can bring about the prosperity, economic development, the peace and the security you are looking for in this part of the country and the country in general." National Chairman of the party, Dr. Iyorchia Ayu, said voting the ruling All Progressives Congress (APC) would not solve the problem

Amnesty International Tasks FG onViolence-free Elections Global watchdog, Amnesty International, has again tasked the federal government to ensure that the presidential and National Assembly elections fixed for February 25 are free from violence and intimidation. It also urged the government to ensure that effective measures are put in place to protect all participants and prevent human rights violations. In a statement issued last night and signed by its Media Manager, Isa Sanusi, the global rights group called on political parties, politicians, security forces and interest groups to refrain from condoning, or engaging in, violence or incitement that could deprive people of their human rights. Sanusi quoted the Director of Amnesty International Nigeria, Osai Ojigho, as saying: “The desperation

our presidential candidate and other APC candidates in the polls. "Traditional rulers are not partisan, and they have told me in confidence that they will support our party, because of love for President Buhari," the governor hinted. Chairman of the Imo State Traditional Council, Eze Imo, His Royal Majesty, Eze Dr Emmanuel

tion, hostility or violence has no place in the country.” Recounting how the leader of the Labour Party in the Kaura Local Government Area of Kaduna State, Victoria Chimtex, was killed on November 28, 2022; Olumo Abolaji of the All Progressives Congress (APC) in Kwara State was killed after she was kidnapped in March 2022, a bus carrying journalists in the campaign convoy of Bola Tinubu, the governing APC presidential candidate in Lagos, was attacked on 19 June 2022 and others, Ojigho called on security agencies to constantly be at alert to tackle insecurity during the elections. She also noted that security situation in the South-east has deteriorated as the election approaches.

“These violent incidents are deeply worrying and may have implications for the general human rights situation before, during and after the elections. “We have received reports of supporters of some politicians violently targeting political opponents. The authorities must stamp out any potential impunity by ensuring that these incidents are investigated and that those responsible are swiftly brought to justice in fair trials,”Ojigho said. Amnesty International further called on the Nigerian authorities to ensure that journalists, local and international election observers and other stakeholders can carry out their activities safely before, during and after the elections, without fear of violence or intimidation.

of Nigeria, and therefore, urged the people of Enugu to vote the main opposition party. He said, "In the next eleven days Atiku Abubakar will emerge as your next president with Ifeanyi Okowa as his vice-presidential candidate. I

want to assure you that immediately after that, the next governor will be Mr. Peter Mbah. I don't have much to come here and campaign to you because it’s like already talking to the converted. You are all believers in PDP."

Rotary Club Donates Mobility Aids to MMIA Rotary Club, Lagos, District 9110, with support from the United States (Crutches for Africa) has donated mobility aids to assist passengers at the Murtala Muhammed International Airport (MMIA), who have mobility challenge. The mobility aids include 10 wheelchairs, five crutches, five walking sticks and five walkers. The president, Rotary Club, Lagos, Rotarian Joseph Akhigbe, who disclosed this during the presentation of the mobility aids to the Federal Airport Authority of Nigeria (FAAN), at the new international airport terminal, in Lagos, was quoted in a statement to have said the donation was a humanitarian service to assist passengers especially those living with disability. "The reason for choosing the airport as beneficiary of the mobility aids was because the distance from the car park to the departure room is always very far, making it difficult for people living with disability to navigate the area. "We are making this donation to FAAN for the benefit

of passengers, especially those that have mobility challenge like people with disabilities, the aged, pregnant women and any passengers who need mobility assistance at the airport. We are giving them 10 wheelchairs, five crunches and five walking sticks among others," he said. Speaking on the next step, Akhigbe said Rotary Club would be donating mobility aids to communities and Primary Health Care Centres in Lagos and Ogun states, who would benefit maximally from the humanitarian service. Director of Rotary Foundation, UK Eke, said the Club interconnect people and advance the course of humanity, even as he disclosed that the airport creates the means for people to travel from one place to another, and as such it is not a surprise that the club has picked the Airport as one of the beneficiaries of the donation of mobility aids. "As we travel across airports, we see facilities that are available to passengers that aid their mobility, of which, most of them are not available at the Nigeria airport.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

INAUGURATION OF MOBILE CALIBRATION VEHICLES AND MEASUREMENT EQUIPMENT... L-R: Immediate past president, Nigeria Institute of Builders, Kunle Awobodu; Director General, Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadri; DG/Chief Executive, SON, Mallam Farouk Salim; Director National Metrology Institute, SON, Engr. Bede Obayi; and Director, Training Services SON, Engr. Timothy Abner at the Inauguration of Mobile Calibration Vehicles and PHOTO: SUNDAY ADIGUN Measurement Equipment by Standard organization of Nigeria held in Lagos… yesterday

DSS Reinvites Fani-Kayode, Warns Parties, Media against Unguarded Utterances He should apologise to Atiku, military, says ex-vp's aide Kingsley Nwezeh and Adedayo Akinwale in Abuja Ten days to the general election, the Department of State Security (DSS), yesterday, reinvited a former Minister of Aviation, Femi Fani-kayode, over his comments on alleged coup plot, even as it warned political parties and their media managers against unguarded utterances capable of

heating up the polity. It said political parties should apply restraint in their utterances and public communication engagements prior to and after the general election. This is as the Special Assistant on Public Communication to the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, Mr. Phrank Shaibu, has called on Fani-Kayode to tender an

unreserved public apology to Atiku and the military. Fani-kayode is billed to face the DSS again today, a statement issued by the Spokesman of DSS, Dr Peter Afunanya, stated. "Political parties and their media managers are advised to apply restraint in their utterances and public communication engagements prior to and after the general election.

'This is to avoid heating up the polity and evoking tendencies that could lead to violent reactions as well as undermine peace and order", it said. On the second invitation extended to the former minister and one of the media managers of the presidential campaign of the APC, the agency said he is expected to appear before investigators today. "The Department of State Services

Afenifere Reiterates Opposition to Interim Govt, Calls for End to Cash, Fuel Scarcity Deji Elumoye and Udora Orizu in Abuja A pan-Yoruba socio-political organisation, Afenifere, has called on the President Muhammadu Buhari-led government to resist any temptation or pressure to foist on Nigeria any form of change of government that was not a product of democratic practice. Afenifere, which made the call in a press release by its National Publicity Secretary, Comrade Jare Ajayi, yesterday, also sought an end to the cash and fuel scarcity currently plaguing the country. According to group, the latest call was necessitated by a disclosure by the Kaduna State Governor, Nasir El-Rufai, that some elements within the presidency were scheming to have the president foist an Interim Government on Nigerians. Afenifere said its call was not necessarily in support of the Kaduna State governor or because of its interest in any particular candidate. The organisation went further to say while it was not always in agreement with the position of Governor El-Rufai on some national issues, however, on this particular one, it was in agreement with the governor and all those who insisted that elections must hold on February 25 and March 11, 2023 as scheduled. Afenifere then warned that those who might be thinking along this line should perish the thought as such portended grave dangers. "Rather, we are making this call because of the sacrifices we, along with many other Nigerians, dead and alive, have made to ensure that we have civil rule. We are happy that we have had about 24 years of civil rule and six transitions between one civilian administrations to another

since 1999. “There is no doubt that we can have better administrations and that we are desirous of having a change. But that change must be through democratic means as enshrined in our constitution. It is in this respect anything that could prompt the change of government through any other means is unacceptable." Speaking on currency swap, Afenifere while lamenting sufferings of Nigerians, urged President Buhari to compel the CBN governor, Godwin Emefiele, to reconsider his stand, and at the same time, called on Buhari to also compel the Nigerian National Petroleum Corporation (NNPC) to flood the market with needed fuel at very affordable prices. “Reports from every part of the country are disturbingly revealing in terms of the agonies people are going through because of the difficulties they are having in obtaining cash. Lives have been lost while properties running into millions of Naira have been destroyed by those who were protesting out of frustration. “Many men and women have resorted to antics that are degrading such as exposing their bodies in bank premises to demonstrate how desperate they were. Fuel stations, court registries, shopping malls and even banks have been reported to refuse receiving the outgoing currency notes thus putting millions of people in jeopardy. Yet, Mr. Emefiele said that the situation is ‘calming down’! "Emefiele was reported to have dismissed the idea of any re-consideration of the February 10 deadline on Tuesday, February 14th when he visited the Federal Ministry of Foreign Affairs in Abuja to discuss the monetary and currency

redesign policy of the apex bank. “The position of the CBN boss in this regard became more disturbing because it was in flagrant defiance of the order given by the Supreme

Court that both the old and the new Naira be continued to be regarded as legal tender pending the determination of the main suit brought by three state governments.

(DSS) hereby informs the public that it invited Chief Femi Fani-Kayode to its National Headquarters, Abuja on 13th February, 2023. The invitation was in respect of an investigation of some of his allegations and insinuations relating to issues relevant to national security. "Chief Fani-Kayode faced a panel, which interviewed him on the subject matter. Afterwards, the service granted him administrative bail and directed that he makes routine returns to the office with effect from Wednesday, 15th February, 2023 till otherwise. The investigation, however, continues," it said. Meanwhile, in a statement, yesterday, Shaibu said Fani-Kayode’s “regret” was not enough without a public apology issued to Atiku and the military. "To ensure that he is truly remorseful of his self-confessed lie that the presidential candidate of the PDP, Atiku Abubakar, met with army

generals with the aim of executing a coup against the democratically elected government of President Muhammadu Buhari, Femi Fani-Kayode, the Director of Special Projects and New media of the Tinubu/Shettima Presidential Campaign Council, has been asked to tender an unreserved public apology to the former Vice President of Nigeria. “Fani-Kayode’s regret is a step in the right direction, but this is not sufficient. Who exactly is he apologising to? He needs to be specific. He needs to apologise to Waziri Atiku Abubakar for trying to impugn his character. He also needs to apologise to the military for denigrating that revered institution. “Fani-Kayode is a former minister of the Federal Republic of Nigeria with over two million followers across social media platforms. He is a lawyer and ought to understand the implication of libel.

PRESIDENCY: FG, CBN TO TAKE POSITION ON CURRENCY SWAP AFTER S'COURT DETERMINATION TODAY "We are trying to make things good for our country, we cannot allow even some of our countrymen who want to get involved in illegal and illicit kind of businesses to truncate our efforts in making the country a good place. They will be arrested. "We have seen videos of people who are also stamping money on people in parties and we have said that it is illegal; it is there in our law that it is illegal to stamp money and those who have been caught – they will go to jail because we need to do things right as a country. They have to go to jail so that can set example that we must be law abiding citizens in our country. "We should not take advantage of situations to create pain for people who generally want to conduct economic activity in the country."

Governors Mopping Up New Notes, CSOs Allege

A coalition of 472 civil society organisations (CSOs) alleged that 10 governors were mopping up the new naira notes in circulation in order to discredit the policy. National Convener of the Coalition under the aegis of Council of Civil Society Organisations, Obed Okwukwe, stated this at a world press conference. Okwukwe alleged that the state chief executives he described as “G-10 Governors,” were determined to undermine all constitutional means of achieving the policy aimed at

sanitising the economy. He said the group had uncovered a plot by the 10 governors to make Nigeria ungovernable if the policy was not reversed. Okwukwe said, "These governors are mopping up the money and stopping it from circulation. The CBN had announced that it deployed N300 billion in cash as the first tranche of cash it disbursed. "We all can agree that the money was hijacked and did not trickle down to the people and the people who took hold of it from the commercial banks have not brought it out to circulate. "They are withholding the money using various means, including deploying agents, who use multiple ATM cards to withdraw the money, colluding with their banker agents to continue to trap the moneys in the banks and buying off cash from business places that ordinarily make huge cash transactions, like petrol stations, supermarkets and departmental stores. "This has made some of these businesses insist on only cash payment as the profit they make from the sales of the naira covers for the loss of business from those who do not have the cash to pay." He alleged that the governors who approached the Supreme Court against the currency redesign policy did so without the love of their people. Part of the text of the speech Okwukwe delivered read, “Since the implementation of the new

naira policy, Nigerians and, indeed, the system have started seeing the gains. "Except for the hitches of the unavailability of cash, particularly for small businesses, which is caused by sabotage from those who do not want the policy so they can continue with their illicit trade, other major indicators show that the impact of the policy on our economy is quite positive. “Also on security, the impact is being felt, as kidnappers now know that there is no cash to pay for ransom. On our electoral process, it is now obvious to Nigerians that it is only the vote buyers that are complaining. “This policy is facing a syndicated attack from a group of governors who we have termed the G10 Governors. These governors have vowed that this policy will not see the light of day.” He added, "They are willing to go the extra mile, including making our country ungovernable and undermining constitutional governance and bring the entire country to a halt, all for their own reasons, which are selfish. "Money moves in cycles. Banks pay out money and money is paid into banks. That is how cash circulates in an economy. So do we not wonder why banks pay out money and the money is not paid back into the bank?” Okwukwe further said, "We have uncovered a grand plot, I repeat, we have uncovered a grand plot

by 10 governors who have resolved to make Nigeria ungovernable for President Muhammadu Buhari if he refuses to reverse the new naira policy. "It is amazing to note that the governors behind this plot were the same governors a couple of years ago who took advantage of every opportunity to praise President Muhammadu Buhari to high heavens. "However, obviously, because the second tenure is coming to an end, these governors now believe that the president is not deserving of their respect. “That is quite hypocritical. It means all they were showing the president was sycophantic solidarity, hence, we must, therefore, remind them at this point in time that President Muhammadu Buhari is and still remains the President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria until the 29th May, 2023 and not one day before.” Meanwhile, supporters of the new currency policy, who embarked on a peaceful street protest yesterday in Abuja came under heavy attack by thugs and street urchins. The Civil Society Organisations Central Coordinating Council, which is the apex organ of all civil society organisations in the country, briefed the press before embarking on their march. They had set out to march to the office of the Attorney General of the Federation before they were attacked.

WEDNESDAY FEBRUARY 15, 2023 ˾ T H I S D AY

NEWS

WE APPRECIATE YOU...

L-R: Former Corps Marshal, Federal Road Safety Commission(FRSC), Gen. Halidu Hananiya (rtd); former Chairman, Senate Services Committee, Sen. Abubakar Girei; President & Chairman, Governing Council, Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (CIFCFIN), Dr. Iliyasu Gashinbaki; Secretary to the Government of the Federation, Boss Mustapha, and former Military Administrator of Plateau State, Gen. Aliyu Kama (rtd), during an appreciation cocktail organised by CIFCFIN in Abuja…recently

Gunmen Kidnap 15 NYSC Members in Anambra David-Chyddy Eleke in Awka Gunmen yesterday kidnapped 15 members of the National Youth Service Corps( NYSC) in Anambra State. The corps members were abducted by the hoodlums at a filling station in Ihiala, in the Ihiala Local Government Area of the Anambra State. It was gathered that the corps members had just completed their three-week orientation programme in Imo State, and were travelling to Lagos when they were abducted. “They hijacked their vehicle and diverted it to Isseke, Ihiala-

Orlu expressway where the gunmen kept them hostage,” a source said. Reacting to the incident, the Anambra State Police Public Relations Officer (PPRO), DSP Tochukwu Ikenga, however said the corps members have been released, through the efforts of police operatives. He said: “Anambra State Police Operatives, by 11:15 am today( Tuesday) 14/2/2023 responding to a distress call along Isseke, Ihiala road, rescued unhurt 15 abducted Corps members from NYSC Orientation Camp EziamaObaire, Nkwerre, LGA, Imo

State. “Information reveals that the Corps members finished their three weeks of orientation programmes today( Tuesday) and were en route to Lagos before their vehicle was

intercepted at total junction Ihiala by yet-to-be- unidentified armed men in unmarked white Toyota Hilux. “Their(corps members’) vehicle was diverted to Isseke, Ihiala-Orlu expressway where

the gunmen kept them hostage. The armed men noticed they are being followed by Police operatives abandoned the corpers and zoomed off with the Toyota Hiace bus with Reg Nos: EPE 353 YE conveying

the corpers.” The PPRO said the corps members had been debriefed by police operatives and necessary arrangements had been perfected to convey them back to their destinations.

Stakeholders Demand Amendment of PIA for Criminalising Host Communities

BlessingIbungeinPortHarcourt

Stakeholders in the Niger Delta have called for the immediate amendment of the Petroleum Industry Act 2021, saying that the Act only criminalises host communities and see them as subjects of oil and gas infrastructure. The stakeholders also regretted that gas flaring in the PIA is seen as economic loss and not a health

hazard, contributing to the air poisoning for 40 million inhabitants of the Niger Delta region. The demand was made at a town hall meeting on “The Petroleum Industry Act (PIA) 2021: Challenges of Environmental Pollution in Nigeria’s Delta Communities” organised by Social Development Integrated Centre (Social Action) in Port Harcourt.

Speaking at the meeting, Executive Director of We The People, Mr. Ken Henshaw, wondered how unarmed members of host communities would be able to protect oil installations from armed criminals and vandals, whereas NSCDC, JTF and other armed security forces have failed for over 20 years. He explained that the PIA is

only out to shortchange the Niger Delta people and wondered who determines the operating cost of an oil company. Henshaw said: “There is no where the oil majors have preinformed their host communities that they are divesting. The PIA criminalises oil communities, if we accept the PIA then we are saying that we are criminals.”

The party said it would not succumb to intimidation and harassment of its supporters, saying those found guilty would not go scot-free. The Publicity Secretary of the PDP in Lagos state, Mr. Hakeem Amode, Director of Strategy of the JandorFunke Campaign Council, Hon. Niyi Adam, a former Deputy Chairman of the

party, Chief Ola Apena, among others said these in Lagos while briefing the press on the situation. They disclosed that a video had emerged of some PDP supporters calling for help and appealing to the security agencies to come to their aid, saying their lives were being threatened for supporting the PDP on Lagos Island.

Following the attack, a team from the state working committee of the PDP and the campaign team of team of its candidate, Dr. Abdul-Azeez Olajide Adediran paid a solidarity visit to OkePopo area of Lagos Island to sympathise with the victims and assure them of their safety and security ahead of the forthcoming election.

Ikpako-Ajoki Road: Edo Gov to Treat Protesting Farmers as Criminals PDP: Attack on Our Leaders, Supporters in Lagos Continues

Adibe Emenyonu in Benin City

The Edo State Government has declared that it would treat members of Evbuorokhuo community as criminals for preventing Raycon Construction Company (RCC) handling the Ikpako-Ajoki Road project from carrying out its duty. On February 9, 2022, the state government, the Nigerian National Petroleum Corporation Limited (NNPC), Sahara Group and other partners, flagged off the 16.7 kilometre Ikpako-Ajoki Road project that cut across Ovia North-East and IkpobaOkha Local Government Areas of the state. The Edo State Governor,

Mr. Godwin Obaseki, said that the road project would open up the communities to economic development because of its proximity to the planned Benin Seaport in Gelegele. Investigation, however, revealed that some farmers said to be from Evbuorkhuo village, in Ovia North-East LGA of the state, are preventing the construction company from carrying out its work over alleged encroachment and damage to their farm crops. The action of the aggrieved farmers reportedly stopped the construction company from continuing its stone dressing work because of their demand for compensation for the alleged damage.

‘Political Parties Manifestoes are not Gender Specific’

Ugo Aliogo

Ahead of the forthcoming general elections, the Country Director, Plan International Nigeria, Charles Usie, has stated that political party manifestoes are not reflective enough of gender specific or child development-focused issues. According to him, their analysis of the parties manifestoes based on the four pillars of development; protection, survival and participation revealed this reality. He also noted that a particular case in point was the rejection of the gender equality bills by the National Assembly which

drew global attention to Nigeria and gave rise to protests. In a statement made available to THISDAY, the organisation frowned at the poor reflection of girls and women issues in the manifestoes of political parties ahead of the 2023 general elections. “The results of a survey carried out by the organisation published in a position paper indicated that despite the fact that women constitute 49.47 per cent of the Nigerian population, and 47.50 per cent of registered voters, issues relating to them are completely absent in many parties’ manifestoes and where they are mentioned. They appear as footnotes.

Segun James The Lagos State chapter of the Peoples Democratic Party (PDP) and the JandorFunke Campaign Council have vowed to petition the Directorate of State Security (DSS) and other security agencies over the unabated attacks on their supporters by hoodlums in Lagos.

Katsina Withdraws N11bn Suit against Ex-Gov Shema, ALGON Chairman Francis Sardauna in Katsina

The Katsina State Government has withdrawn N11 billion corruption suit it filed against the state’s former Governor, Mr. Ibrahim Shehu Shema, and the former Chairman of the Association of Local Governments of Nigeria (ALGON), Mr. Ibrahim Lawal Dankaba, before the State High

Court. The State Director of Public Prosecution, Mr. Abdulrahman Umar, disclosed to journalists on Monday night at the Government House that the suit against the two defendants has be withdrawn following a Nolle Prosqui filed by the state government before the court on Monday. Shema was arraigned before

late Justice Ibrahim Maikaita-Bako, at the State High Court 3 in 2016 for alleged offences of criminal breach of trust, forgery, abuse of office and conversion of public funds to the tune of over N11 billion while he was governor of the state. Those joined in the suit were the former Commissioner for Local Government and Chieftaincy

Affairs, Mr. Sani Hamisu Makana and former Permanent Secretary of the Ministry, Mr. Lawai Rufai. But Shema, who served the state on the platform of the Peoples’ Democratic Party (PDP) between 2007 and 2015, pleaded not guilty to all the charges leveled against him by the Governor Aminu Bello Masari-led government.

Amnesty: Ijaw Monarchs Task Ndiomu to Work with Critical Stakeholders Sylvester Idowu inWarri

Ijaw traditional rulers have tasked the interim coordinator of the Presidential Amnesty Programme (PAP) Major General Barry Ndiomu (rtd) to work with critical stakeholders towards achieving the objectives for which the programme was established.

Rising from an enlarged traditional rulers stakeholders meeting with the PAP coordinator in Warri, the royal fathers agreed that all differences between the PAP office and stakeholders be resolved amicably without resort to petitions and orchestrated blackmail. According to a communique issued yesterday and signed by

His Majesty Dr. Joseph Timiyan, Torobobo 1, the Ebinanawei of Ogulagha kingdom and chairman of Delta Ijaw traditional rulers forum and coordinator, His Majesty Obukowho Monday Whiskey, paramount ruler of Idjerhe kingdom, secretary of the forum, the royal fathers passed a vote of confidence on the PAP coordinator.

“Arising from an enlarged traditional rulers stakeholders meeting with the interim coordinator of the PAP, Major General Barry Ndiomu (rtd), it was agreed that all differences between PAP office and stakeholders be resolved amicably without resort to petitions and an orchestrated blackmail.

Osun Gov Restates Commitment to Civil Servants’ Welfare Yinka Kolawole in Osogbo

The Governor of Osun State, Senator Ademola Adeleke, yesterday restated his commitment to the welfare and wellbeing of civil and public servants in Osun State.

Adeleke, who was represented by the Secretary to the State Government, Hon. Teslim Igbalaye, at the 2023 Valentine Day celebration, reaffirmed his solidarity and “the support of our administration for the wellbeing and welfare of our hardworking

civil servants. He said: “Worldwide, today is marked in remembrance of sacrifice of love, brotherhood and fraternity among humanity. The symbolism of the day is the imperative of love, sharing, caring and supporting each other for

the collective good of the society. “Today is, therefore, a call on leaders to be people-oriented and for the followers to be supportive of the leadership. Our gathering is in effect a reaffirmation of our joint resolution to act only in communal interest.

WEDNESDAY FEBRUARY 15, 2023 ˾ T H I S D AY

NEWSXTRA

Pastor Gets Life Imprisonment for Impregnating Two Teenage Sisters Wale Igbintade An Ikeja Sexual Offences and Domestic and Violence Court (ISODVC) yesterday convicted and sentenced a 51-year-old man, Pastor Nduka Anyanwu, to life imprisonment for defiling and impregnating two teenage sisters.

Justice Abiola Soladoye, in her judgment, held that evidence canvassed by the prosecution revealed that the defendant is guilty as charged for the offence of defilement. Anyanwu was arraigned on April 17, 2022, on a two count charge of defilement of a child

by the Lagos State Government. The offence, which was committed between 2019 and August 2020, at Arowojobe Street, in Oshodi area of Lagos, is punishable under section 137 of the Criminal Law of Lagos State 2015. The defendant pleaded not

guilty when he was arraigned. During trial, the prosecution called six witnesses while the defendant testified as his sole witness. The first prosecution witness testified that though she is now 15-year-old, but that she was 13-year-old at the time the

incident happened. She testified that the defendant was known to her as the pastor of their church and that he had been having sex with her and warned her not to tell anyone. The victim stated that the defendant said that she would not get pregnant, but

she eventually got pregnant and had a child for him that is now three months old. Under cross examination, the victim was consistent with her testimony that the defendant had sex with her many times, and that she could not remember the number of times.

Nigeria Unveils Diplomatic New Lagos CP Promises Synergy with Duty Free Village Military, Other Enforcement Agencies

Michael Olugbode in Abuja

Nigeria has unveiled the diplomatic duty free village in Abuja. The establishment of the village is in compliance with the United Nations Vienna Convention on Diplomatic Relations, which domesticated by the Federal Republic of Nigeria in 1961, through the diplomatic immunities and privileges act of December 1962. This statutes provide for the exemption of diplomats from all duties and taxes, whether national, regional or municipal. “Specifically, the Diplomatic Immunities and Privileges act of 1962 empowers the Ministry of Finance to exempt diplomats from all taxes. The Minister of Finance and National Planning, Zainab

Ahmed, yesterday said during the unveiling of the village, diplomats were already enjoying duty free shopping facilities in several countries, such as South Africa, Ghana, Tanzania, Kenya, most of the EU countries and a few others, insisting that it in line with government’s responsibilities to ensure same in Nigeria. Ahmed said that the facility was only for diplomats and members of their household, while noting that the facility became important to ensure coordination of imports for the diplomats. The village she said is for “strict control or cessation of individual requests for waivers on imported items by diplomats which presently, is largely uncoordinated and originated. Another number six digital connectivity largely uncoordinated and originated.”

RebeccaEjifoma The new Lagos State Commissioner of Police (CP), Idowu Owohunwa, has emphasised operational efficiency and strong interagency synergy with the military detachments and other state and federal law enforcement and public safety agencies.

As Nigeria prepares for the 2023 general election, the Director-General of National Youth Service Corps (NYSC), Brig Yashua Dogara Ahmed, has urged corps members to remain apolitical and ensure full adherence to the guidelines contained in the Electoral Act . The DG stated this yesterday at the Wamakko permanent

orientation camp in Sokoto State during the closing ceremony of 2023 Batch A Stream 1 corps members posted to the state. Represented by the state Coordinator, Alhaji Muhammad Nakamba, Ahmed explained that their membership in the corps does not confer immunity from the legal consequences of any wrongdoing. He implored them to continue to be law-abiding

In an effort to show appreciation to the development trajectory of Enugu State Governor, Ifeanyi Ugwuanyi’s administration in the state and Enugu North senatorial district, particularly the university town of Nsukka in line with the governor’s inaugural address, the people of Echara Nsukka Autonomous Community last Monday said they are grateful to the governor for being major

while also serving as role models for the younger ones. According to him, “My dear compatriots, as you are already aware, the 2023 general elections are around the corner. As was the case with the previous elections conducted from 2008, corps members will form the majority of ad hoc personnel that will be enlisted for the conduct of the exercise.

Oyo PDP Leaders Vow to Work for Atiku’s Victory Kemi Olaitan in Ibadan With the presidential election less than two weeks away, the leaders of the Peoples Democratic Party (PDP) in Oyo State have restated their commitment to continue to work for the emergence of the party presidential candidate, Alhaji Abubakar Atiku, as the president of Nigeria. This is just as they called

on members of the party in the state to shun any form of distraction at this crucial time in the preparation for the elections. Former Minister of Power and Steel and leader of the group, Elder Wole Oyelese, who spoke with journalists in Ibadan, Oyo State after the end of their meeting, said this is not a time to engage on frivolities, stating that engaging in activities

which values are at best belated is uncalled for, as the people of the state have long made up their minds to vote for Atiku in the presidential election. Other leaders present include former Deputy Governor of the state, Alhaji Hazeem Gbolarumi; Hon. Wale Adegoke; Alhaji Mikhail Aborode, Mr. Femi Babalola; Hon. Busari, and Chief Segun Oyewole.

My Dad’s Passage Broke Me, Says Diri Olusegun SamuelinYenagoa Bayelsa State Governor, Senator Douye Diri, has said he actually broke down when he received the news of the passing of his father, Pa Abraham Diri. The octogenarian died at age of 88 years last Sunday. Speaking at his Sampou community home when he received scores of visitors, including members of the state executive council, security commanders and the state executives of the Peoples Democratic Party (PDP), Governor Diri said he thought he was very strong until the night of last Sunday when he could not hold back tears. In an emotion-laden voice, the state governor expressed gratitude to members of his cabinet for sharing in his family’s moment of pain and

sadness. He said his father died as his administration was commemorating three years in office, and wished that he had lived longer.

“Towards this goal, I assure you that I will draw on my professional experience and deploy an all-society strategy towards up-scaling operational standards of policing in all aspects.” According to Owohunwa, this would involve deploying citizen’s engagement strategy, intelligence-driven tools, and strategic

approaches to crime prevention, detection, and prosecution. Addressing the officers, the CP reminded them that “Our bond with Lagosians is to keep them safe and secure. Logosians want this done within the context of the rule of law, professionalism, and utmost respect for their fundamental human rights.”

Enugu Community Endorses Ugwuanyi for Senate, Others

Corps Members Urged to Remain Apolitical, Adhere to Electoral Act Onuminya Innocent in Sokoto

The CP noted this in a press statement during the handing over ceremony yesterday at the Command Headquarters in Lagos. He said: “As I assume the leadership mandate at the Centre of Excellence on this day, I shall optimally leverage on these strengths in my vision to positively change the policing narratives in the State.

According to him, the government had lined up a number of activities to mark the anniversary, but because of the sad development, all official engagements had to be suspended.

beneficiaries of his good works in terms of infrastructure and empowerment. The people stated that Governor Ugwuanyi, who is the senatorial candidate of the Peoples Democratic Party (PDP) for Enugu North senatorial district, deserves their commendation and overwhelming votes at the poll for being the only leader from Nsukka zone who brought meaningful

developments to the area in terms of critical infrastructure and human capital development. They pointed out that no other leader from the district who held government position in the past or currently in government was able to attract any form of remarkable developmental project to the Nsukka zone. The people added that Ugwuanyi, as a just and selfless

leader in transforming Nsukka zone in keeping with his inaugural address, did not concentrate developments in his Udenu Local Government Area but out of his passion and commitment for rapid development of Enugu North senatorial district for socioeconomic expansion chose to concentrate most transformational projects in the university town of Nsukka.

WEDNESDAY, ͹ͽ˜ ͺ͸ͺͻ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

NFF Conﬁrms MKO Abiola Stadium to Host S’Eagles/Guinea Bissau Clash on March 24

Following the approval of only two venues for Nigeria by the Confederation of African Football (CAF), the Nigeria Football Federation (NFF) yesterday picked the MKO Abiola Stadium in Abuja to host the Super Eagles home tie against the Wild Dogs of Guinea Bissau. The encounter is Match-day 3 of the 2023 Africa Cup of Nations

A F C O N 2 0 2 3 Q UA L I F I E R qualification. THISDAY reported last week that CAF had approved 24 out of 42 stadiums across the continent to stage the remaining qualifying matches out of which MKO Stadium and Nest of Champions in Uyo

are the only approved venues for Nigeria. NFF confirmed yesterday that the Abuja stadium is to host the Super Eagles match on Friday, 24th March while the Federação de Futebol da Guiné-Bissau is

yet to pick a date for the second match, which could be either 27th or 28th March in the Moroccan city of Marrakech. Guinea Bissau does not have a CAF-approved playing turf in the country of slightly over two million people. On the first day of the qualifying series, the Super Eagles fought back from a ferocious start to the game,

and an 11th minute goal by Jonathan Morsay, to defeat the Leone Stars of Sierra Leone 2-1 in Abuja, after Alex Iwobi and Victor Osimhen hit back hard at the visitors. On Day 2, away in the Moroccan city of Agadir and in only the second competitive match for Coach José Santos Peseiro, the Super Eagles set a new international win-record,

defeating Sao Tome and Principe 10-0 with four of the goals by Osimhen. Terem Moffi (with a brace), Moses Simon, Oghenekaro Etebo, Ademola Lookman and Emmanuel Dennis completed the carnage. Victory in both matches against the Wild Dogs will certainly pave the Eagles’ path to Cote d’Ivoire 2023 now moved to January next year.

UCL: Coman Repeats 2020 Heroics to Give Bayern Edge at PSG Kingsley Coman repeated his 2020 Champions League final heroics as Bayern Munich beat Paris StGermain in their last-16 first-leg tie. The Frenchman volleyed home the winner early in the second half in Paris. Coman also scored the only goal when Bayern overcame his former club PSG to win the trophy three years ago. Substitute Kylian Mbappe, back after injury, looked to have rescued a draw for the hosts, but his late effort was ruled out for offside in the build-up. Ligue 1 champions PSG have now lost their last three matches in all competitions. In contrast, Bayern are unbeaten in all competitions since 17 September and now favourites to reach the quarter-finals, despite having defender Benjamin Pavard sent off for a second booking in injury time. PSG were boosted beforehand with Lionel Messi fit enough to start up front after recovering from a hamstring injury, while Mbappe

was on the bench. bench There was also a start in midfield for Warren Zaire-Emery who, at 16 years and 343 days, became the youngest player ever to start a Champions League knockout stage game. The Frenchman was born in 2006, the same year in which Messi, 35, won his first Champions League title. Elsewhere, AC Milan defeated Tottenham Hotspur 1-0 to gain a slim home advantage in their Last 16 clash last night. Brahim Diaz's snatched the lone goal winner for Milan at the San Siro. Tottenham will have seen enough to believe they can overturn it back in London in a fortnight.

RESULTS PSG 0-1 Bayern Munich AC Milan 1-0 Tottenham

TODAY Dortmund v Chelsea Club Brugge v Benfica

Zenith Bank Basketball League to Bounce Back after Elections, Says NBBF The Nigeria Basketball Federation (NBBF) has promised to resuscitate the women’s basketball league sponsored by Zenith Bank PLC after the forthcoming 2023 general elections. The women’s basketball league, which hitherto had been suspended for the last two years, had left the players uncertain about the future of the league. NBBF Vice President, Babatunde Ogunade, has however cleared uncertainty surrounding the resumption of the league. According to him, the federation has put everything in place to ensure the revival of the female league. “The female league is going to come up very soon, we are worried about the timing because of the election since there are home and away games and they are playing the games in different centres all over Nigeria. “We are mindful of putting the girls in harm’s way because of elections, we have to be very careful also. Yes, they have to play the league but we are worried about security. We have a sponsor anyway,” he said. Group Managing Director of Zenith Bank, Ebenezer Onyeagwu, also stated that the outfit was ready for the 2023 edition of the women’s basketball league. “We are always ready for this every year but one issue or the

other affected the plans. First it was COVID and later it was the crisis in the federation, we are happy all is good now. We tried to stage it late last year but it was a little late. “It is always our pleasure to contribute to development of sports especially the growth of women which has helped Nigeria to be champions of the Women Afrobasket back-to-back-to-back,” Onyeagwu said. Also, speaking with MFM Queens Coach, Mrs. Ochuko Owolabi, expressed eagerness over the return of the female league, saying that the girls have been starved for years.

Bayern Munich's French forward, Kingsley Coman in mutted celebration of his lone goal defeat of PSG...last night.

Saudi Arabia to Host 2023 FIFA Club World Cup Saudi Arabia has been chosen to host the FIFA Club World Cup for the first time, from 12to 22 December. The announcement comes three days after Real Madrid lifted the trophy in Morocco, following a thrilling 5-3 win over Al-Hilal, the first Saudi club to reach the final of the tournament. Saudi will be only the sixth host since the competition's inception in 2000. The country's sports minister said hosting the tournament signalled "our desire to be a force for good". Saudi Arabia has invested heavily in sporting events in recent years, but has been accused of using events to 'sportswash' its reputation. The country has been criticised for its human rights record by organisations including Amnesty International and Reprieve. Earlier this month, co-hosts Australia and New Zealand asked FIFA to "urgently clarify" reports that Saudi Arabia's tourism authority is to be named as an official sponsorof the 2023 Women's World Cup. A deal with Visit Saudi, which is set to be announced, has been criticised by human rights groups. Amnesty said in a statement on Tuesday: "FIFA has yet again disregarded Saudi Arabia's atrocious human rights record.

"Hard on the heels of awarding the Visit Saudi tourism site as a sponsor of the Women's World Cup, it has announced the kingdom as host of the Club World Cup without any consideration of freedom of expression, discrimination or workers' rights."

HRH Prince Abdulaziz bin Turki Al Faisal previously told BBC Sportthat he believes the country will always face global criticism. On the announcement of the Club World Cup, he said: "We are honoured and extremely excited to be given the opportunity to welcome

the world's leading football clubs and their fans to Saudi Arabia. "Many fans will have recently witnessed our ability as a nation to compete at the highest possible level on the pitch. Now we have the chance to prove we are also world-class hosts off it.

HONOUR FOR SANWO-OLU... L-R: Former Super Eagles player, Waidi Akanni; Governor Babajide Sanwo-Olu; former Super Eagles Captains, Daniel Amokachi and Peter Rufai presenting the oﬃcial match ball of the 2022 FIFA World Cup in Qatar to the Lagos State Governor after a tournament organised in his honour at the Mobolaji Johnson Arena in Onikan, Lagos... on Monday

Sports Minister to Flag off National Cross Country Race in Jos Minister of Sport, Chief Sunday Dare, will flag off the National Cross Country race on Friday in Jos, Plateau State. Disclosing this in Lagos on Tuesday, the Race Coordinator, Tony Osheku, said the Sports Minister is a fitting choice to flag off the historic race not only because of his position as the leader of the sports family in Nigeria but also because he is the first Sports Minister in almost 40 years who has shown genuine concerns about developing distance running in Nigeria. “There

was no hesitation over the choice of Chief Dare,’’ said Osheku who assured all arrangements for a very successful event have been concluded. ‘Chief Dare has heard the cries of Nigerian distance runners who have been craving the attention they are getting now for almost four decades. He is the first to organize a training camp for them last year in Jos and now, he is the brain behind the first National Cross Country race in about 40 years” Osheku says the right step is

finally being taken to ensure a proper development plan is put in place and believes Nigerian distance runners will, in no distant future feature in international events to earn money and win medals for Nigeria. “Just as you cannot make omelette without breaking eggs, I also know you cannot develop top quality distance runners without the cross country. What the National Cross Country race is going to achieve is to create the awareness for the athletes of the

need to include cross country training as part of their training regime. ''The best distance running nations in the world don't joke with cross country training and competitions. This helps greatly in building the physical and mental stamina of athletes. Most of the best distance runners in the world, past and present ran and still run cross country regularly,” added Osheku who made his mark as an athlete in the middle distance. “I think all lovers of distance

running in Nigeria should be grateful to chief Dare who is making Saturday's race in Jos possible. Meanwhile, Osheku says the choice of Saturday February 18 date for the event is symbolic. '”The World Cross Country Championships will be holding in Bathurst, Australia the same day as the Jos race. We agreed to the date in order to draw attention to the fact that the future of distance running in Nigeria depends on Cross Country training.”

Wednesday, February 15, 2023

UT H

& RE A SO

Price: N250

MISSILE Rewane to the CBN “Total man hour loss in a month will be 120 hours and ttal GDP loss in a month will be $18 million. Trade is settled mainly in cash and POS (though) 70 per cent of trading transactions are settled by cash. Therefore, velocity of circulation in the trading sector (16 times) is approximately four times more than the formal sector. A decline in the velocity of circulation could reduce output in the trading sector. Hence its contribution to GDP will fall” ---Chief Executive Oﬃcer, Financial Derivatives Company Limited Bismarck Rewane on the eﬀect of naira crunch on GD

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

The Politics of Cash

hatever will be the outcome of the presidential election that would be held 10 days from now, the role of money in politics will, perhaps, be remembered for long as the main issue thrown up by the quadrennial exercise. The official move to demonetise the 2023 election is the most discussed topic few days to the election, what with the lack of adequate focus in the public sphere on the obvious big issues of the election. That, of course, is to put things in the most charitable way given the socio-economic disruptions and pains caused by policy implementation. Time will tell if this official step is a classic case of how not go about the demonetisation of politics. The practical need for cash in the process of election came to the fore eight days at a meeting between the chairman of the Independent Electoral Commission (INEC), Professor Mahmood Yakubu, and the governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele. Given its budget that runs into hundreds of billions of naira, INEC, would be paying service providers electronically. It is, of course, not expected that INEC would settle such bills from service providers in cash. Yet, Yakubu told Emefiele that some “emergency” situations in the course of operations would require cash payment. In some areas, electronic payment may not be applicable in paying transportation and other logistical items. Emefiele replied inter alia: “…if 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.” So, INEC, the constitutional regulator of electoral matters, sometimes needs cash. That crucial meeting took place 17 days to the presidential election. The same practical case for cash for operational purposes was made at another meeting between the office of the National Security Adviser (NSA) General Babagana Monguno and the House of Representatives ad hoc committee on the cashless policy of the CBN. The NSA was represented at the meeting by Rear Admiral Abubakar Mustapha, who drew the attention of the legislators to the imperative of cash as follows: “Some of our soldiers are deployed in places where they cannot actually access digital means of paying for their daily subsistence; that is the main issue that NSA has been talking about…”

Yakubu According to Mustapha, if not well handled a strict application of the cashless policy might affect military operations even in advanced countries. The CBN is expected to treat the observation from the office of the NSA as a special case. However, cash in the hands of politicians and political parties has been wrongly turned into a bugbear. Just like INEC or the military politicians may also need some cash for legitimate election expenses. The transportation and welfare of party agents serving remote areas could only be done in most cases by cash. It is, of course, reasonable to expect that the amount of cash needed in special situations would not be huge. A politician or a political party will be living a lie to say that all his expenses would be done by electronic transfers. Hypocrisy has simply beclouded the discussion of the cashless policy. Hence no concession is ever made for the politician as the bogey in the process. Checkmating vote-buying is the reason why the cashless policy is now implemented with a severity of purpose

before the elections. In the process, bank customers in need of little cash for daily living have been suffering indefensibly. Lives have been reportedly lost because of the cash crunch. Long queues at ATM machines and tension in the banking halls are the consequences of the policy. It is cynical to refer to protests against the breach of contract between a bank and its customer as a “drama’’ or an “orchestrated action” by some forces. Policies should be implemented with a reasonable measure of humanity especially when the rights of people are fundamentally involved. To be sure, vote-buying is corruption, a crime that is punishable under the law. Agencies such as the Independent Corrupt Practices Commission (ICPC), Economic and Financial Crimes Commission, (EFCC), the police and other security outfits could be deployed to enforce the laws. Surveillance could also be mounted for the prevention of the crime. Crimes should be isolated and dealt with instead punishing the whole society on the suspicion that some politicians may engage in vote-buying. Things could be done in a tidier and more sensitive manner to achieve even a greater result in fighting vote-buying and similar crimes. But fighting vote-buying can never be a justification for risking anarchy in the society. However, vote-buying should be differentiated from legitimate election expenses in the drive for demonetisation of politics. And all campaign expenses cannot be done in cash given the limits to withdrawals. A lot of myths should be exploded about the policy implementation in which not a few people are obfuscated Besides, given the manner in which the campaign against vote-buying is conducted, you would imagine that all the votes to be cast would be bought. This is unfair to those people who vote without any one paying them to do so. In fact, it is a collective insult on the electorate. It is unimaginable that any candidate for that matter would have to pay for all the votes that he would score. So cash is actually a small part of the story if the problem of vote-buying is removed. The larger question of the role of money in politics is eclipsed by the campaign of vote-buying. This tendency ignores the reality that it is in the nature of bourgeois liberal democracy for money to play a central role in the process. Since 1999, presidential

candidates have spent money to organise their campaigns depending on the size of the war chests they could respectively muster. Again, it is sheer hypocrisy for any politician to say that campaigns could be run without money. It is an obvious logistical question. Is there any politician running in any of the categories of elections who would not spend money? It is not a peculiar Nigerian phenomenon. The fuel for the engine for the competition in a liberal democracy anywhere is money. That’s why billions of dollars funds are raised by candidates in the United States and Europe. The funds are meant for legitimate election expenses. And there are regulations guiding the management of funds so raised. The International Institute for Democracy and Electoral Assistance (IDEA) has attributed the role of money in European politics as “the greatest factor contributing to the European citizen’s lack of trust in the democracies.” Issues have been raised over financing elections in Spain, France and Italy. The influence of rich people on politics have triggered protests in Greece and Ukraine. One lesson to learn from the older liberal democracies is the need for a proper regulation of political fiancé. Realistic rules should be set and honestly enforced. Doubtless, liberal democracy would be deepened and more participatory if money does not become a factor for the exclusion of the majority from viable competition. Demonisation of individual politicians is surely not the cure to the malaise of high monetisation of politics. A systemic approach to the problem may provide a more efficacious solution. Specific crimes should be isolated and the offenders be made to face the law. Talking about a legacy of sanitising the electoral process, President Muhammadu Buhari should dust up the Uwais Report. He should establish the Electoral Offences Commission as recommended in the report of a panel of eminent Nigerians chaired by former Chief Justice Muhammadu Uwais. The commission could deal with all electoral offences (including vote-buying) committed before, during and after the elections. That would an institutionalised legacy of Buhari. If that is done, the CBN may not need to redesign the naira again on the eve of 2027 elections to prevent vote-buying. And the system would be spared of avoidable stress in the course of implementing the cashless policy.

FEMIFALANA Elements of Good Governance A GUEST COLUMNIST

s a former seminarian who fell by the wayside, I was pleasantly surprised to have been invited by the Catholic Secretariat to speak at the 2023 First Plenary Meeting of the Catholic Bishops’ Conference of Nigeria, CBCN, on the theme, “Citizens’ Participation in Good Governance”. My understanding of the topic is that it presupposes that ‘good governance’ is in place in Nigeria. Hence, I am required to examine the participation of citizens in it. As I intend to show anon, the term ‘good governance’ is a concept developed by the World Bank as one of the conditionalities for giving aid to countries that are battling with poverty and political chaos caused by imperialism. No doubt, the Buhari administration has repeatedly maintained that one of the legacies that will be bequeathed to Nigeria is a seamless transfer of power in May 2023 through the conduct a fair and free election. But in view of the unwarranted suffering and anguish to which the people of Nigeria have been subjected as a result of the artificial scarcity of fuel and the new currency notes, it is doubtful if the election will not be disrupted. As major stakeholders in the polity, I have been reliably informed that the Catholic Bishops are praying fervently for the success of the election and installation of a regime that

will promote ‘good governance’ in Nigeria.

The concept of Good Governance The term, ‘good governance’ has been defined as “the process of measuring how public institutions conduct public affairs and manage public resources and guarantee the realization of human rights in a manner essentially free of abuse and corruption and with due regard for the rule of law.” (Wikipedia) The World Bank’s good governance’ agenda is concerned with the relationship between the state, the market and civil society in loan-receiving countries. In a well cited quote, ex-United Nations Secretary-General, Kofi Anan noted that “good governance is perhaps the single most important factor in eradicating poverty and promoting development.” But Anan did not address how good governance can be used to eradicate poverty and promote development in an environment dominated by forces of underdevelopment. But Shijvi has rightly maintained that “The ‘good governance’ discourse however, does not admit of the relationships of power. Rather it presents itself as a moral paradigm, distinguishing between the good and the bad and the evil. What is ‘good’ and bad governance thus turns out to be a moral judgment, on the one hand, and

relativist and subjectivist, on the other. The result, I want to suggest, is that ‘good governance’ has no conceptual or theoretical value in understanding a phenomenon with a view to change it. Rather, it is, at best, a propagandist tool easily manipulatable by whoever happens to wield power. And this is exactly how it has been deployed in the dominant, neo-liberal discourse.” Issa Shijvi, The Struggle for Democracy, http.//www.marxist Duty of the Government to provide for security and welfare of citizens Indeed, the political objectives, economic objective, social objectives and cultural objectives of the Nigerian State are elaborately set out in the fundamental objectives contained in chapter two of the Nigerian Constitution. In particular, section 14(2)(b) of the Nigerian Constitution states that the welfare and security of the people shall be the primary purpose of government. The implication is that an elected government fails to provide for the security and welfare of the people is not fit to remain in power. No doubt, section 6(6)(c) of the Constitution which states that the provisions of the fundamental objectives are not justiciable to prevent accountability on the part of the government. But an exception is allowed where the Constitution specifically provides otherwise. One of

such exceptions is section 224 thereof which stipulates that “The programme as well as the aims and objects of a political party shall conform to the provisions of Chapter II of this Constitution.” Once a government is elected it shall be the duty and responsibility of all its organs and of all authorities and persons, exercising legislative, executive or judicial powers, to conform to, observe and apply the provisions of this Chapter of this Constitution. It is submitted that any elected public officer that fails to preserve the fundamental objectives has failed to provide good governance. Furthermore, before the assumption of office the President, Vice President, Governors, Deputy Governors, Ministers, Commissioners and Special Advisers as well as members of the National Assembly and Houses of Assembly of each State of the Federation shall subscribe to oath of allegiance which includes a commitment that they “strive to preserve the Fundamental Objectives and Directive Principles of State Policy contained in the Constitution of the Federal Republic of Nigeria.” Therefore, it is grossly misleading on the part of bourgeois lawyers and judges to state that the fundamental objectives are not binding on the government and public officers. *The piece continues on www.thisdaylive.com

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com