MONDAY 27TH FEBRUARY 2023

Dangote, Okonjo-Iweala Impressed with Nigeria’s Election Voters’ Turnout Analysts: Credible polls will spur economic growth, insist poor outcome dangerous

James Emejo in Abuja Africa’s richest man and President

of the Dangote Group, Alhaji Aliko Dangote and the Director General of the World Trade Organisation

(WTO), Dr. Ngozi Okonjo-Iweala have said the turnout in Saturday’s presidential election was the highest

he’d seen in more than two decades.

“The turnout is very, very impressive,” Dangote told Channels

TV after voting in the commercial hub, Lagos.

“I’ve been voting since 1999 when

we returned to democracy and this Continued on page 5

Anderson: Why Nigeria’s Oil Sector Will See Significant Growth in 2023...

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Monday 27 February, 2023 Vol 28. No 10143. Price: N250

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Buhari, Tinubu, Others Grieve Over Maiduguri Market Fire Incident...

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PDP to Buhari: Call APC, Tinubu to Order for Claiming Victory Raises the alarm over plot to alter results in Katsina, Kaduna, Kano, Zamfara Thanks Nigerians, asserts Atiku coasting home to victory Tasks INEC on transparent collation of results Ruling party warns against attempt to discredit exercise Chuks Okocha, Emmanuel Addeh and Adedayo Akinwale in Abuja The Peoples Democratic Party

(PDP) Presidential Campaign Council, yesterday, urged President Muhammadu Buhari to call his party, the ruling All Progressives Congress

(APC) and its presidential candidate, Bola Tinubu, to order for claiming victory in an election they stood no chance.

The party, which claimed its presidential candidate, Atiku Abubakar, was the only one with national spread in Saturday's

presidential election, has alleged plot by some governors of the APC to alter results of the election in some states, including Katsina, Kaduna,

Kano and Zamfara.

While thanking Nigerians for Continued on page 11

Tension as Nigerians Await Presidential Election Results INEC: IRev challenges not due to sabotage, intrusion Declares Tinubu winner of Ekiti poll Holds remaining election in Bayelsa, others Atiku wins Buhari's State with 489,045 votes NLC warns INEC, security agencies of dangers of subverting people's will See story on page 5 National Assembly outcomes trickling in

WHO IS THE NEXT PRESIDENT?

Atiku

Tinubu

Obi

See table of results so far released on page 5

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UN Agencies: One Woman Dies Every Two Minutes Due to Pregnancy or Childbirth 70% of maternal deaths occur in Sub-Saharan Africa Ndubuisi Francis in Abuja Every two minutes, one woman dies globally during pregnancy or childbirth, a report by United Nations (UN) agencies has revealed.

The report, 'Trends in Maternal Mortality 2000 to 2020,' which was unveiled at the weekend by the World Health Organisation (WHO), United Nations Children's Fund (UNICEF), United Nations Population Fund (UNFPA), World Bank Group and United Nations Department of Economic and Social Affairs (UNDESA) / Population Division reveals alarming setbacks for women’s health over recent years.

According to the report, maternal deaths either increased or stagnated in nearly all regions of the world.

Commenting on the report, the WHO Director General, Dr. Tedros Adhanom Ghebreyesus said: “While pregnancy should be a time of immense hope and a positive experience for all women,

it is tragically still a shockingly dangerous experience for millions around the world who lack access to high quality, respectful health care.

“These new statistics reveal the urgent need to ensure every woman and girl has access to critical health services before, during and after childbirth, and that they can fully exercise their reproductive rights.”

The report, which tracks maternal deaths nationally, regionally and globally from 2000 to 2020, showed there were an estimated 287 000 maternal deaths worldwide in 2020, indicating only a slight decrease from 309, 000 in 2016 when the UN’s Sustainable Development Goals (SDGs) came into effect.

While the report presents some significant progress in reducing maternal deaths between 2000 and 2015, gains largely stalled, or in some cases even reversed, after this point.

In two of the eight UN regions – Europe and Northern America, and Latin America and the Caribbean – the maternal mortality rate increased from

2016 to 2020, by 17 per cent and 15 per cent respectively. Elsewhere, the rate stagnated.

The report noted, however, that progress was possible. For example, two regions – Australia and New Zealand, and Central and Southern Asia – experienced significant declines (by 35 per cent and 16 per cent respectively) in their maternal mortality rates during the same period, as did 31 countries across the world.

In her remarks, the UNICEF Executive Director Catherine Russell, said: “For millions of families, the miracle of childbirth is marred by the tragedy of maternal deaths.

"No mother should have to fear for her life while bringing a baby into the world, especially when the knowledge and tools to treat common complications exist. Equity in healthcare gives every mother, no matter who they are or where they are, a fair chance at a safe delivery and a healthy future with their family.”

In total numbers, it showed that maternal deaths continued to be largely concentrated in the poorest parts of the world and in countries affected by conflict.

In 2020, about 70 per cent of all maternal deaths were in subSaharan Africa. In nine countries facing severe humanitarian crises, maternal mortality rates were more than double the world average (551 maternal deaths per 100 000 live births, compared to 223 globally).

“This report provides yet another stark reminder of the urgent need to double down on our commitment to women and adolescent health.

“With immediate action, more investments in primary health care and stronger, more resilient health systems, we can save lives, improve health and well-being, and advance the rights of and opportunities for women and adolescents,” said Juan Pablo Uribe, Global Director for Health, Nutrition and Population at the World Bank, and Director of the Global Financing Facility.

TENSION AS NIGERIANS AWAIT PRESIDENTIAL ELECTION RESULTS Adedayo Akinwale, Onyebuchi Ezigbo, Udora Orizu in Abuja, Olusegun Samuel in Yenagoa, Gbenga Sodeinde in Ado Ekiti, Yinka Kolawole in Osogbo, Laleye Dipo in Minna, Blessing Ibunge in Port Harcourt, Ibrahim Shuaibu in Kano and Gideon Arinze in Enugu Tension is palpably high across the country as Nigerians await results of the presidential and the national assembly elections, over 24 hours after time was called in on the exercise.

But the Chairman of the Independent National Electoral Commission (INEC) Professor Mahmood Yakubu, has assured the Nigerian people that the process of collation and announcement would be transparent, even as INEC has explained that the challenges the commission was encountering with the transmission of results was not due to sabotage of its system.

At the same time, INEC, yesterday, announced the presidential candidate of the All Progressives Congress (APC), Bola Tinubu, as the winner of the presidential election in Ekiti State, after polling 201,494 votes, to defeat his closest rival, Atiku Abubakar of the Peoples Democratic Party (PDP), who scored 89,554 votes.

However, Atiku Abubakar returned that favour by defeating Tinubu in Katsina State, the President's home state, though by a small margin. The former vice president polled 489,045 votes while Bola Ahmed Tinubu of the ruling All Progressives Congress (APC), scored 482,283 votes.

The INEC state Collation Officer and Vice Chancellor of the Federal University, Gusau, Zamfara State, Mu'azu Abubakar, announced the

result at a Collation Centre in Katsina, Monday morning.

This, nonetheless, INEC has conducted election into the remaining 141 polling units in Yenagoa, the Bayelsa State the presidential and national assembly elections were rescheduled, just as more and more results in the presidential and legislative elections had started to come in.

Meanwhile, the Nigeria Labour Congress (NLC), has weighed in on the controversies trailing weekend's presidential and national assembly elections in some states, cautioning the INEC and security agencies against colluding to subvert people's will.

Yakubu, who allayed fears of manipulation, said during one of his briefings yesterday, that everything concerning the collation of the results and announcement would be done that in the open at the International Conference Centre, Abuja.

However, INEC National Commissioner and Chairman, Information and Voter Education Committee, Festus Okoye, in a statement said the Commission was aware of challenges with the INEC Results Viewing Portal (IReV).

The commission noted that unlike in the off-season elections, where the portal was used, it has been relatively slow and unsteady, stressing that the Commission regretted the setback, especially, because of the importance of IReV in its results management process.

"The problem is totally due to technical hitches related to scaling up the IReV from a platform for managing off-season, state elections, to one for managing nationwide general election. It is indeed not unusual for glitches to occur and be

corrected in such situations.

"Consequently, the Commission wishes to assure Nigerians that the challenges are not due to any intrusion or sabotage of our systems, and that the IReV remains well-secured," he said.

While further assuring the people that its technical team was working assiduously to solve all the outstanding problems, he added that the users of the IReV would have noticed improvements since last night.

His words: "We also wish to assure Nigerians that results from the Polling Units, copies of which were issued to political parties, are safe on both the BVAS and the IReV portal.

"These results cannot be tampered with and any discrepancy between them and the physical results used in collation will be thoroughly investigated and remediated, in line with Section 65 of the Electoral Act 2022."

The commission said while it fully appreciated the concerns of the public on this situation and welcomed various suggestions that it had received from concerned Nigerians, it was important to avoid statements and actions that could heat up the polity at this time or promote disaffection towards the Commission.

The commission, therefore, accepted full responsibility for the problems and regretted the distress they might have caused the candidates, political parties and the electorate.

Atiku Wins Buhari's State with 489,045 Votes

In the early hours of this morning, the Peoples Democratic

Party (PDP) presidential candidate, Atiku Abubakar, was declared the winner of the Saturday’s presidential election in Katsina state.

The former vice president polled 489,045 votes to defeat his closest rival, Bola Ahmed Tinubu of the ruling All Progressives Congress (APC), who scored 482,283 votes.

Peter Obi of the Labour Party scored 6,376 while Rabiu Musa Kwankwaso of the New Nigeria Peoples Party polled 69,386 votes.

Tinubu Wins Ekiti as Collation Continues Today

Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu, has declared the winner of the presidential election in Ekiti State.

This is as the Independent National Electoral Commission (INEC) has said the collation of results would continue at 11am today because most of the states were expected to have completed the collation of results last night.

The State Collation Officer for the Ekiti State, Prof. Akeem Lasisi, said APC scored a total of 201,494 votes, while Atiku Abubakar of the Peoples Democratic Party (PDP) scored 89,554 votes. The Labour Party’s candidate, Peter Obi, on the other hand, garnered 11,397 votes and Rabiu Kwankwaso of the New Nigerian Peoples Party (NNPP) polled 264 votes.

Lasisi, who said Ekiti had a total of 988,923 registered voters, while the number of accredited voters were 315,058, added that, the total valid votes was 308,171, while number of rejected stood at 6,301 and total votes cast, 314,472.

Continued on page 12

DANGOTE, OKONJO-IWEALA IMPRESSED WITH NIGERIA’S ELECTION VOTERS’ TURNOUT time around I’ve seen much more than the usual times,” Bloomberg quoted him to have added.

On her part, Okonjo-Iweala, who tweeted after casting her ballot, noted that the turnout was unbelievable, adding that it was the largest she had ever seen.

“The INEC officers finally arrived.

My husband and I have just voted.

The turnout is unbelievable, the largest I have ever seen in all the years I have voted in the village. Young and very old all are here,” she Tweeted.

Meanwhile, analysts yesterday said the outcome of the 2023 general election was critical for the growth of the Nigerian economy.

The presidential election which took place on February 25 is yet to be concluded with some reports of irregularities.

The analysts, in separate interviews with THISDAY said the success of the electoral process would be positive for the country, adding that its failure

could spell doom for the country particularly in terms of foreign capital inflows.

This, they pointed out, would also give both local and foreign investors confidence in the governance process in Nigeria.

They also warned that the lack of a peaceful transition could cost the economy a lot.

Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, said a successful election would, "engender great hope for the future, because we can achieve great economic feat in a peaceful environment".

He said, "The success of the electoral process will also bring about stability in Nigeria bond future, stock markets and bring about strong assurance in our international commitments.

"The failure or lack of confidence in the process will greatly hurt the

economy and increase inflationary pressures along with investor apathy in Nigeria.

"It could lead to civil unrest that will have huge economic consequences and loss of investment."

On his part, the President Association of Capital Market Academics of Nigeria, Prof. Uche Uwaleke, said, "If the outcome of the election is largely seen as credible by Nigerians and international observers, then it holds a lot of promise for the Nigerian economy especially in terms of foreign investments and global ratings.

"Otherwise, it spells doom for the economy in view of the social unrest and unimaginable crisis that may stoke."

On his part, Wealth Management and Business Development Consultant, Mr. Ibrahim Shelleng, said the investment community is earnestly awaiting the outcome of the election.

He told THISDAY that, "I think the world is awaiting the results of these elections to see the direction the country will take.

"A win for the APC will likely be a continuation of existing policies with the government maintaining its grip on factors of production and controlling the economy."

Shelleng added: "We are also likely to see continued borrowing and increased taxation to fund the government. A PDP or LP victory would probably see a shift towards more privatisation and expansionary policies to boost growth.

"More importantly, a new government provides the country an opportunity to reposition itself and address the multiple socio-economic problems that plague the country.

"Regardless of the outcome, it is vitally important that the incoming president is able to galvanise the populace and steer a clear path to economic recovery."

STATE EKITI

SOME 2023 PRESIDENTIAL ELECTION RESULTS APC LP NNPP PDP 201,494 11,397 264 89,554

KATSINA LGAs MATAZU KAITA MUSAWA INGAWA CHARANCHI BATSARI DUTSI SANDAMU DANDUME MASHI DANMUSA RIMI KURFI BATAGARAWA DUTSINMA KUSADA MANI MAI’ADUA BINDAWA KANKIA BAURE KANKARA ZANGO DANJA FASKARI BAKORI JIBIA KAFUR DAURA KATSINA SABUWA SAFANA MALUMFASHI FUNTUA

APC 12,008 14,595 14,360 12,315 12,779 7,017 9,258 13,681 15,062 12,868 11,259 16,759 11,203 13,950 13,233 7,442 14,334 19,098 16,578 10,658 21,661 14,456 13,891 16,202 17,180 15,036 10,690 23,517 16,889 15,953 10,207 7,683 21,008 19,453

LP 15 22 11 47 10 21 05 14 44 38 01 19 25 131 159 06 31 21 16 46 17 55 05 44 57 594 59 2,285 78 1,937 02 11 352 198

NNPP 415 799 2,033 3,388 609 1,096 289 399 3,163 1,107 699 1,039 1,784 1,454 3,799 474 3,361 747 2,918 700 592 1,774 345 1,920 1,445 3,753 732 4,448 2,368 9,539 209 943 3,254 3,591

PDP 9,644 11,793 10,603 12,152 8,020 8,889 8,074 10,434 10,718 16,085 7,294 15,318 12,528 16,987 17,917 10,990 18,998 14,098 12,582 17,426 16,820 22,035 10,791 14,004 15,667 20,070 13,761 13,167 12,913 45,390 7,287 7,989 19,892 18,771

IMO LGAs IDEATO SOUTH NKWERE IKEDURU ISU ORSU

APC 440 662 1,339 681 35

LP 10,216 7,052 23,718 10,383 13

NNPP 65 26 111 29

PDP 779 319 991 690 1

LAGOS LGAs APC LAGOS MAINLAND 20,030 EPE 19,867 LAGOS ISLAND 27,760 IKORODU 50,353 IBEJU LEKKI 14,685 IKEJA 21,276 BADARY (WARD 11) 31,903 AGEGE (WARD 11) 29,568 SHOMOLU 27,879

LP 18,698 3,497 3,058 28,951 10,410 30,004 10,956 13,270 28,936

NNPP 257 76 79 400 104 337 153 1,513 476

PDP 3,002 5,221 2,521 4,508 2,329 2,280 6,024 4498 3,449

DELTA LGAs IKA SOUTH ANIOCHA NORTH

APC 3,290 1146

LP 17,868 11,678

NNPP

PDP 7,485 3,783

GOMBE LGAs SHONGOM BALANGA NAFADA FUNAKAYE KWAMI

APC 7,525 11,715 8,242 12,672 16,245

LP 2,579 3,760 07 320 78

NNPP 256 405 344 767

PDP 13,520 23,326 12,339 25,384 24,068

KADUNA LGAs GIWA KAJURA MAKARFI

APC 19,922 3,940 13,767

LP 565 14,875 759

NNPP 3,114 1221 5219

PDP 23,302 9,253 22,098

PLATEAU LGAs APC JOS EAST 6,348 LANGTANG SOUTH 7,478

LP 6,386 6,045

NNPP 156 24

PDP 5,144 12,467

SOKOTO LGAs KWARE BODINGA SHAGARI GUDU YABO RABA TANGAZA BINJI WURNO

APC 10,485 13,384 11,355 11,194 10,650 5,584 10,331 9,953 10,988

LP 63 10 3 23 9 3 25 15 19

NNPP 11 39 47 70 32 48 28 23 7

PDP 12,242 13,559 13,009 9,295 11,269 5,490 6594 8,646 9,832

BENUE LGAs TARKA BURUKU ADO OBI

APC 13,640 20,248 2271 4,450

LP 2038 13,466 9987 7,949

NNPP 37 240

PDP 2642 6909 1107 4,340

OYO LGAs IBADAN N'WEST KAJOLA ATISBO LAGELU ITESIWAJU AFIJIO ATIBA 0YO EAST OYO WEST ISEYIN IBARAPA EAST SAKI EAST IBARAPA NORTH IBARAPA CENTRAL

APC 13,078 11,917 7,928 16,011 6,180 8,876 15,046 13,430 14,076 19,731 10,575 6,414 8,193 10,291

LP 4,830 503 1,178 4,066 387 1,925 1,234 1,900 1,724 1,371 779 1,144 344 726

NNPP 70

PDP 6,011 9,358 4.031 5,112 4,948 4,112 6,180 5,091 4,544 6,588 4,800 3,634 4024 5,169

39 55 43 95 101 67 8 313 27

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MONDAY, FEBRUARY 27, 2023 • T H I S D AY

NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

THE PRESIDENT AND HIS FAMILY… President Buhari with His Daughter Halima and his Grand Children in Daura, Katsina State ahead of the 2023 Presidential and National Assembly Elections last week

Anderson: Why Nigeria’s Oil Sector Will See Significant Growth in 2023 Predicts devaluation of the naira to close gap between black market, official rates Emmanuel Addeh in Abuja A report by Andersen Nigeria has stated that the global financial advisory firm expects Nigeria's oil and gas sector to record significant growth this year due to several measures by the government to address oil thefts, pipeline vandalism and illegal refining.

Andersen in Nigeria prides itself as an independent tax, transfer pricing and accounting advisory services firm with a

worldwide presence through the member firms and collaborating firms of Andersen Global.

Anderson noted that measures by the federal government to combat the menace were expected to boost oil production levels in quarter 4 of 2023.

Furthermore, the report stated the commencement of the Port Harcourt Refinery by end of quarter 1, 2023, and the Dangote Refinery by the second half of 2023, were expected to increase domestic processing of

IMF Seeks Stronger Crypto Regulation Ndubuisi Francis in Abuja The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has called for greater regulation surrounding private cryptocurrencies, citing financial stability risks.

Georgieva, who spoke during a press briefing at the G20 Meeting meetings for finance ministers and central bank governors in Bengaluru, India, asserted that “private crypto assets are not money.”

She urged stringent regulations to be implemented, noting, “If regulation fails, if you’re slow to do it, then we should not take off the table or ban those assets because they may create financial stability risk…”.

Georgieva explained that the IMF, the Financial Stability Board (FSB), and the Bank for International Settlements (BIS) were committed to establishing a foundation for the regulation of cryptocurrencies that are not issued by governments or central banks.

“We have to differentiate between central bank digital currencies (CBDCs) that are backed by the state and stablecoins, and crypto assets that are privately issued. .

“There has to be very strong push for regulation. If regulation fails, if you’re slow to do it, then we should not take off the table banning those assets, because they may create financial stability risk," she stressed.

She highlighted the need for increased oversight of private cryptos to mitigate potential risks and maintain financial stability.

At the roundtable with Union Finance Minister Nirmala Sitharaman, Kristalina Georgieva warned of potential financial stability issues private cryptocurrencies pose and called for more regulation. She also highlighted India’s positive economic outlook in the global context, noting that She said: “2023 is a challenging year due to slowing global growth, compounded by the ongoing conflict in Ukraine.”

the crude oil produced by the country.

It stressed that the development would thereby reduce demand for foreign exchange to purchase refined fuel products from abroad and help strengthen the naira against the dollar.

“Finally, the external reserves which continuously depleted in 2022 is also expected to grow marginally in H2 2023 as a result of the commencement of local refinery of the crude oil.

“It will be further enhanced by the proposed subsidy removal which will ensure that money spent on subsidy payment are either retained or invested, increase in oil production levels in Q4 2023, and the rising brain drain which is expected to increase foreign remittances,” Anderson pointed out.

But the report stated that although 2022 started with a plethora of positive expectations due to the post Covid recovery, the year brought unexpected global economic disruption amidst existing economic challenges such as rising inflation rates.

Specifically, the firm said the Russia- Ukraine war and

its attendant supply chain disruptions led to a spike in oil prices rising above $100/ barrel which put an upward pressure on inflation, noting that almost all economies reacted by tightening monetary policies to curb the rising inflation.

However, the report stated that 2023 still shoulders some of the burdens in 2022 and was set to face its ripple effects.

With the ongoing RussiaUkraine war, oil prices, it said, was expected to remain at a relatively high price above its peak in 2021.

Although, this was supposed to be an advantage to Nigeria due to its status as the largest oil producer in Africa, the Nigerian oil sector, it added, had been plagued with pipeline vandalism and oil theft which have hampered the sector growth and also led to low oil productions.

On the growth of the economy, Anderson reported that the economy was expected to slow down in 2023 as a result of the overarching domestic and global economic challenges and uncertainties.

Continued high inflation rates

way above the Central Bank of Nigeria (CBN) benchmark target of 9 per cent it stated, means that the Monetary Policy Rate (MPR) will remain high even if it reduces marginally in the second half when the high inflation rates are expected to taper off and start a gradual decline.

“The relative high cost of borrowing means investments by businesses will be hampered contributing to the slow down of economic growth. Furthermore, global uncertainties such as the end of the Russian-Ukraine war and economic performance of major trading partners such as China could hamper growth in the economy.

“Finally, from a sectorial perspective, the continued high performance of fast growing sectors such as the telecommunication and financial services sectors as well as key sectors that contribute more significantly to the Gross Domestic Product (GDP) such as agriculture, trade and manufacturing will be critical in driving economic growth,” the firm added.

From a socio-economic impact

perspective, the rising inflation rate, the report said, has led to a negative impact on cost of living for citizens as the prices of goods and services have increased without a commensurate increase in wages whilst unemployment rate remains high.

“It is not surprising that Nigeria’s ranking has worsened in global socio-economic rankings such as the Human Development Index (HDI) with Nigeria currently ranking 163rd out of 191 countries in United Nations Development Programme (UNDP)’s HDI. “Other pressures such as the foreign exchange fluctuations and scarcity still persists and the Naira is expected to see a devaluation in the official rate especially, to help close the significant gap between the official and parallel exchange rates.

“The country is also expected to witness significantly increased migration of skilled workers which will lead to further brain drain thereby reducing the productivity of the workforce and contribute to the slowing down of economic growth,” the firm said of the country’s 2023 outlook.

Atiku Urges INEC to Upload Results from Polling Units on its Server to Avert Compromise By Governors Chuks Okocha in Abuja The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, yesterday, called on the National Chairman of the Independent National Electoral Commission (INEC), Prof Mahmood Yakubu to

instruct the Collation Officers for Saturday’s elections to upload the results from the polling units to the Commission’s server immediately.

Atiku, said was necessary to checkmate some governors trying to compromise the results at the local government collation

level.

“It will be a disservice to Nigerians and a negation to democracy for anyone to subvert the will of the people as freely expressed in their votes of yesterday,” Atiku said.

He called on Nigerians to be calm and vigilant to ensure

that anti-democratic elements masquerading as progressives do not steal their mandate.

The PDP presidential candidate expressed gratitude to Nigerians for their support so far and pledged to continue to work hard to earn their trust and confidence.

MONDAY FEBRUARY 27, 2023 • T H I S D AY

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NEWS

MEDIA PARLEY ON ENAIRA ENHANCED SERVICES… L-R: President, Balogun Business Association, Oscar Paul Ikechukwu; eNaira Project Grant Team Member, Central Bank of Nigeria, Mr. Otaru Abudulkadir; Founder/CEO, BULLNET Bulletin and ABIODUN AJALA Enquires Networking Services, Mr. Bayo Akintoye and Co-founder, BULLNET, Mr. Deji West, during a media parley on eNaira enhanced Services in Lagos....recently

Petrol Scarcity: Depot Owners Undermine FG, Still Sell Petrol at N220 Ex-Depot Price, IPMAN Alleges Peter Uzoho The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised the alarm, accusing depot owners in Ijegun, Apapa and Tin Can Island, all in Lagos State, of frustrating efforts of the federal government by selling petrol to retailers at N220 per litre, against the approved N172 ex-depot price.

IPMAN's National Operations Controller, Mr. Mike Osatuyi, made the allegation during a phone chat with THISDAY, however, stating

that only Emadeb Energy Limited complies with the N172 ex-depot price approved by the government.

Osatuyi also alleged that the depot owners carry out the anti- regulation practice through underground arrangements with their customers, saying they were not cooperating with the government in the efforts to address the ongoing scarcity of fuel in the country.

He said the depot owners in question belong to the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), adding

Kwara Gov Commiserates with Belgore over Mum’s Death Hammed Shittu in Ilorin Kwara State Governor, Alhaji AbdulRahman has commiserated with the Belgore family over the death of Alhaja Maryam Alarape Belgore.

She died on Sunday at 83 and her janazah was slated for today, in line with Islamic doctrines.

A statement issued yesterday, in Ilorin, signed by the governor’s Chief Press Secretary, Mr. Rafiu Ajakaye stated that, "The Governor called Alhaja Alarape, a British-trained nurse and oil merchant, a great humanist and community leader whose professional life positively impacted the Ilorin community.

“My heartfelt condolences go to my brother Mohammed Dele Belgore (MDB), his sister Barrister Biliqees Belgore, and the entire Belgore and the Alanamu on this sad development.

"We draw solace from her being a true servant of God who lived for family and for humanity.

“I also commiserate with the Federation of Muslim Women Association of Nigeria (FOMWAN) whose foundation member Alhaja was until her death.

"We beseech Allah to grant Alhaja Maryam, her husband late Justice Babatunde Belgore, and our dead Al-jannah Firdaus.”

The governor has meanwhile visited the GRA home of Mr. Belgore, to commiserate with the family.

The governor visited the home in company of his brother and the Mutawali of Ilorin Dr. Alimi AbdulRazaq.

He was received by the Belgores and other dignitaries at the house, including Justice Ahmad Belgore, Engineer Saad Belgore, among other elders of the family.

The governor’s visit coincided with that of some other Ilorin leaders, top APC chieftains, and legal luminaries, such as retired Justice Salihu Saidu, the Turaki Ilorin Mallam Saliu Mustapha, DanIya Ilorin Engr.

Suleiman Bolakale Kawu, House of Representatives candidate Yinka Aluko, Yusuf Olaolu Ali SAN, Adebayo Adelodun SAN, Mumini Hanafi SAN, Barrister Tairu Adebayo, Makama Tajudeen Audu, Hon. Moshood Mustapha, Alhaji Lukman Mustapha, Mallam Lanre Issa Onilu, and Prince Modibbo Sulu-Gambari.

that such anti-government practice had made the interventions by the Nigerian National Petroleum Company Limited (NNPC) not to be felt in the pump prices of petrol.

Despite a rash of measures by the government and stakeholders in the petroleum products supply and distribution system to address the lingering petrol scarcity in the country, Nigerians were yet to see a marked improvement.

The product has remained scarce and still selling above N250 per litre in some locations in the country, especially at retail outlets owned by IPMAN and DAPPMAN members.

The government had in January secretly adjusted the pump price to N185 per litre, from the previous N165. But one can only get it at that price at filling stations owned by NNPC and marketing companies under the aegis of the Major Oil Marketers Association of Nigeria (MOMAN).

Most marketers and policy analysts had fingered subsidy and high cost of renting

Daughter vessels as the main cause of the product scarcity and price hike.

However, Osatuyi said if depot owners comply with the government's N220 ex-depot price, the pump price of petrol would fall further down at their retail outlets.

He had told journalists in Lagos, during a recent oversight tour of depots in Ijegun, that IPMAN members would only guarantee selling petrol at government's regulated pump price when depot owners sell to them at N172 ex-depot price.

"Though, with the product NNPC is giving to IPMAN directly now, it is forcing the prices to come down. But the prices could have come down further if other DAPPMAN members were cooperating but they are not.

“If DAPPMAN are selling to us at N220, what do you want us do? If they sell to us at N220, plus transport, how much will we sell at our filling stations? They are not cooperating.

"You said our stations are

still selling at N250, N260.

Depot owners are the ones frustrating government's effort. It's not only Ijegun. All the depot owners in Apapa, Coconut are selling at that N220", he added.

But when contacted for his reaction, the General Manager, AA RANO Terminals, Mr. Mohammed Koki, dissociated his company from the IPMAN's allegation, saying his company had always complied with government's approved exdepot price even before the scarcity broke out.

He said his company was just managing to get products for its stations across the country and has none to sell to IPMAN, let alone selling to them at N220, adding that they currently retail their products through AA RANO filling stations in Abuja, Kaduna and Kano.

"What IPMAN said is absolute fallacy, absolute false. Well, we are expecting the second vessel in our facility.

Ninety-five per cent of what we receive goes to Kaduna, Abuja, Kano. We consume our

own products, it's not even enough for us to even sell.

"Even before scarcity, we have been complying with government's regulated price.

"At the moment, we are managing to load from MRS Tin Can to Abuja, Kaduna, Kano. That product was given to us by NNPC Retail to at least reduce the pressure and the scarcity. So, somebody that was assisted, how can he be assisting someone?", Koki explained.

Also, when contacted to get the regulator's position on the allegation by IPMAN, the Southwest Zonal Coordinator, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Ayo Cardoso, promised to look into the matter.

"From the information on my desk, a lot of them are doing it but they said they are selling it to their stations. We have depot reps everywhere and they are not reporting it that they are doing it underground. But we will look into it", Cardoso told THISDAY.

Election Violence: SERAP Writes Biden, Seeks Visa Ban, Other Sanctions against Perpetrators Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged the United States President, Joe Biden to exercise his powers pursuant to the Presidential Proclamations 7750 and 8697 and the Immigration and Nationality Act to ban Nigerian officials, politicians and other perpetrators and sponsors of violence during the just concluded elections.

SERAP also urged Biden to use the Global Magnitsky Human Rights Accountability Act to block or revoke visas of anyone suspected to be

responsible for cases of intimidation, harassment and violence during the elections, and to impose asset freezes and property sanctions on them and their families.

The letter followed reports of cases of election-related intimidation, harassment and violence in several states of the country, including in Akwa Ibom, Enugu, Gombe, Lagos, Edo, Ogun, Osun, Rivers, and Taraba states, and Abuja.

In the letter dated February, 25, 2023, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation stated: “The imposition

targeted sanctions against suspected perpetrators and sponsors of election-related violence in Nigeria would promote accountability, end impunity and deter human rights violations.

“Applying the presidential proclamations, Global Magnitsky Act, and Immigration and Nationality Act as recommended would be very helpful to the efforts to stop further violence before, during and after elections, facilitate free and fair elections, and encourage the people to exercise their right to vote.

"The recommended travel

bans, asset freezes and property sanctions should also cover anyone who may perpetrate and sponsor violence and human rights crimes during the postponed elections in 141 polling units, and the governorship elections scheduled for March 2023. SERAP welcomes your government’s publicly expressed commitment to impose visa restrictions on officials, politicians and other perpetrators and sponsors of election-related intimidation, harassment, and violence. We urge you to include asset freezes and property sanctions on the list.”

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COURTESY VISIT...

L-R: Vice President Nigerian-British Chamber of Commerce (NBCC), Seyi Adeyemi; President/Chairman of Council, Bisi Adeyemi; Deputy President, Abimbola Olashore, and Chairman Programmes Committee, Tajudeen Ahmed, during NBCC’s Executive Committee's courtesy visit to Virgin Atlantic, in Lagos...recently

Buhari, Tinubu, Others Grieve Over Maiduguri Market Fire Incident Shettima donates N100m to victims Deji Elumoye, Adedayo Akinwale in Abuja and Michael Olugbode in Maiduguri President Muhammadu Buhari, the presidential candidate of the All Progressives Congress (APC), Borno State Governor, Prof. Babagana Zulum and Senate President, Ahmad Lawan, yesterday, expressed sadness over the fire that razed the popular Monday Market in Maiduguri, Borno State.

Buhari called for vigilance as winds and rising temperatures increase the risks of fires in forests, homes, public buildings and markets.

Large part of multi-billion-naira Monday Market in Maiduguri, perhaps the largest market in the north-east was razed by strange fire before break of dawn on Sunday.

The fire was said to have broken out at about 2 am and could not be quenched until about 10am, leaving several billions of Naira worth of ware destroyed.

Many of the marketers who spoke to journalists on the incident were bewildered not knowing what could have happened, some of them suggested that it might have been as a result of short circuiting of electrical connections in one of the shop shortly after midnight.

Reacting to the major fire incident that razed the popular market, the president, according to a statement issued by his spokesperson, Mallam Garba Shehu, while expressing grief over the destruction caused by the incident, said the nation’s prayers and condolences were with the hardworking traders and their families who have reportedly saved very little or nothing from the fire.

Buhari commended the immediate response of the Zulum’s government to the incident and directed effective coordination and collaboration between federal and state agencies to bring needed relief to those who are affected.

The president urged the state and federal agencies responsible for fire management to strive towards higher levels of preparedness, mitigation efforts and strengthening their response mechanisms to deal with the increasing menace of market and other fire disasters.

Also, Tinubu, expressed sadness over the incident.

The former Lagos State governor in a statement issued Sunday by his Media Office and signed by Mr. Tunde Rahman, spoke of his readiness to help in the rebuilding

of the market and giving succour to the victims of the inferno.

He said: "I'm deeply saddened by the news of the fire that razed down the Maiduguri Monday Market.

"My prayers and thought are with Governor Babagana Zulum, the government and people of Borno State and the direct victims who lost their wares and life investment to this rather unfortunate inferno that brought down the sprawling market that has been part of the social and economic fabric of Maiduguri for decades."

Tinubu noted that he was encouraged by the swift response of Zulum who had already addressed the people in a statewide broadcast.

He stressed that the announcement of N1 billion relief fund by the state government was a very good first step in bringing succour to the people and assuring them they are not alone in this very trying and difficult moment.

While urging the federal government and all emergency and relief agencies, donors and public spirited individuals to extend hands of support to victims, Tinubu pledged that he would contribute handsomely to the rebuilding of the market and relief fund for victims.

Earlier, Zulum had in a quick state-wide broadcast yesterday morning, announced an emergency relief of N1 billion to provide urgent support to victims, pending assessment of the incident.

The governor’s spokesman, Malam Isa Gusau, in a statement said Zulum made a broadcast soon after he had visited the scene of the incident and had mobilised armed forces to secure the area to prevent breakdown of law and order.

Zulum, in his broadcast in Hausa and Kanuri languages to the people of the state, said: “My fellow people of Borno State, we woke up today with a very sad and unfortunate fire disaster at the Maiduguri Monday market. This is very unfortunate but we believe that this is decreed by Allah. Inna lillahi Wa inna ilayhi raajiun.

“I feel deeply pained by this incident and I know how painful it is for anyone to work hard over years to build his or her business but end up losing that investment in seconds.

“I really feel the pains of everyone affected by this incident. I commiserate with all of you. I kindly and most respectfully urge you to be calm and patient. I know how

bad you feel and insha’Allah, the Borno State Government is already taking the following measures to ameliorate the situation: “I have approved the release of one billion naira as emergency relief for us to quickly support victims of the disaster because we know that some of them may even have difficulty of surviving the next few days. Many rely on daily businesses in order to cater for themselves.

“We are setting up an assessment committee that will comprise respectable individuals from our society including representatives of the victims, for us to speedily assess damages, and take comprehensive list of those affected and their losses.

I will also be holding meeting with leadership of the market and representatives of victims.”

He, however urged them not to politicise the unfortunate incident.

Also, the President of the Senate, Ahmad Lawan, sympathised with the victims of the fire incident.

Lawan sympathised with shop and property owners who must have suffered unquantifiable loss to the fire incident.

He also commiserated with the state government and the entire people of Borno over the unfortunate incident and expressed the belief that the appropriate authorities would find out the cause of the incident with a view to preventing a recurrence.

"I commiserate with all the victims particularly the traders and shop owners who are directly impacted by the early morning fire incident at the Maiduguri Monday market.

"My sympathy also goes to the government and the entire people of Borno over the incident. We thank Almighty Allah that there was no report of loss of life in the incident.

"I have no doubt that relevant authorities will thoroughly investigate the cause of the fire outbreak to prevent a recurrence," Lawan said.

The Minister for Humanitarian Affairs, Disaster Management & Social Development, Hajiya Sadiya Umar Farouq, described the incident as unfortunate and a great loss to the nation’s economy.

She said: “We received the sad news early this morning of the fire disaster which engulfed the

biggest market in Maiduguri. We understand that goods and shops worth billions of naira have been destroyed by the raging fire.

“This is a great loss to the country’s economy, especially Borno state which is just beginning to recover from the destruction and losses as a result of insurgency and banditry. We sympathise with the state government and people of Borno state, especially the traders whose livelihoods have gone up in flames following the fire incident.

“I have directed the National Emergency Management Agency NEMA to help with Search and Rescue operations of property to see what can be salvaged and to ascertain the level of damage and loss at the Monday Market.”

The Governor of Yobe State, Hon. Mai Mala Buni, sympathised with the government and people of Borno state.

The governor in a statement signed by his spokesman, Mamman Mohammed, described as sad, regrettable and unfortunate the fire inferno at the market, a business hub that provides means of livelihood to many people.

Meanwhile, the APC vice presidential candidate, Senator Kashim Shettima, donated N100 million as personal support to those affected by the incident.

Shettima announced his donation yesterday, while briefing the press shortly after he paid sympathy visit on Zulum at the Government House in Maiduguri.

Shettima was two term Governor of Borno State from 2011 to 2019 and he currently represent central part of the state at the senate of senate.

“It saddens my heart to address you this afternoon on the unfortunate fire incident at Maiduguri Monday market. This is a very famous market; it is the nerve centre of commercial activities in the northeastern sub-region.

“I am here to commiserate with Governor Zulum, his eminence the Shehu of Borno and the people of Borno State, over the sad development.

“As my modest contribution towards cushioning the effects of the sad incident, I am making a personal donation of N100 million for the victims of the fire disaster,” he added.

Yiaga Africa: We Will Collaborate or Dispute Results Released by INEC Expresses concerns over delay in uploading election results Chuks Okocha in Abuja Amidst reports of delay by the Independent National Electoral Commission (INEC) in the release of results both for the presidential and National Assembly elections, Yiaga Africa, a pro-election civil society group yesterday said it would collaborate or dispute any result released by the election management body.

Both the Peoples Democratic Party (PDP) and Labour party have been calling on INEC to upload the results of the election to avoid any compromise.

Owing to this, addressing newsmen in Abuja, yesterday, Dr. Hussaini Abdu and Samson Itodo, the Chair, Watching The Vote Working Group and Executive Director, Yiaga Africa, said having deployed over 6,000 independent observers, that they were in good position to either collaborate or dispute any election result released

by INEC. They said 30 minutes after the

release of the presidential and National Assembly results by INEC, Yiaga Africa would address a press conference to confirm or dispute the results with facts.

According to them, "If the announced results reflect the ballots cast at polling units, then we will confirm the outcome. If the announced results have been manipulated and do not match the results posted at polling units, then Yiaga Africa will expose this."

They claimed that, "On 25 February, Yiaga Africa deployed 3,836 observers throughout the country including 3,014 parallel vote tabulation (PVT) observers who deployed early in the morning in pairs to a random, representative statistical sample of 1,507 polling units where they remained throughout the day.

"This methodology enables Yiaga Africa to independently assess the quality of the process and verify the accuracy of the official presidential election results announced by INEC. "At this time, Yiaga Africa is able

to provide preliminary statistically accurate data on the conduct of the election as of 25 February, 2023, from the opening of polling units through accreditation, voting and counting until the posting of results.

“In addition, we have independent projections of the vote shared that each candidate should receive based on the ballots cast at polling units.

"If INEC’s results fall within Yiaga Africa’s estimated ranges, then the public, political parties and candidates should have confidence the official results reflect the ballots cast at the polling units.

"However, if the official results are manipulated at any point in the process we will be able to expose it.

Only INEC has the legal mandate to announce the election results.”

He added: "As soon as INEC announces the official results, Yiaga Africa will convene a press conference to share its own statement on the accuracy of the election results and will publicise these projections."

They reiterated that the election

has challenges, saying, "As Yiaga Africa noted in its mid-day statement, there were once again significant logistics challenges which delayed opening of polls across the country. Once again INEC has fallen short of expectations.

"As a result, elections didn't hold in some polling units due to INEC’s inability to deploy, insecurity, disruption or malfunctioned BVAS. Yiaga Africa notes that in 18 sampled polling units’ elections were not conducted.”

They added: "As of 10 pm on election day, results for the presidential election were not uploaded on the INEC portal after voting and counting ended in several polling units.

"At 9:00 am on 26th February, INEC uploaded only 25,503 results for the presidential elections on the INEC portal. The delay in uploading the results undermines public confidence in the results transmission process as it deviates from the guidelines for the elections and it failed to meet citizens’ expectations.

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WEST AFRICAN ELDERS FORUM MEDIA BRIEFING ON NIGERIA'S ELECTION...

L-R: Former Ghananian President, John Mahama; Former Gambia Vice President, Fatoumaya Tambajang; Former Burkina Faso Prime Minister / ECOWAS President, Kadre Ouedraogo and Former Deputy Chairman, African Union, Erasus Nwencha, during the West African Elders Forum media briefing on the Nigeria's 2023 general election, held in Abuja on Friday ENOCK REUBEN

Obaseki: Edo Refinery Operating at 80 Per Cent, Over-Subscribed Says govt investing in education, infrastructure, agriculture, security, others to reposition state

Edo State Governor, Mr. Godwin Obaseki has said the Edo Refinery in Ologbo, Ikpoba Okha Local Government Area of the state, was operating at 80 per cent capacity and currently oversubscribed.

The governor said this during an inspection of the companies operating in the Ologbo axis of the state, which plays host to a number of industrial concerns including the refinery project and an ethanol production plant, which is undergoing construction.

Edo Refinery was developed by Edo Refinery and Petrochemical Company Limited (ERPC) with support from the state government through a Memorandum of Understanding

(MoU).

A statement quoted the governor to have said: “You can see that there is production going on at 80 per cent of the plant’s capacity and they have been able to sign a crude oil contract with a private company that is supplying them crude. They are refining and are able to sell.

“They are able to sell finished products now as you can see tankers loading. However, they have more demand than they produce. The demand from the local market is far in excess of what they are supplying. So, we need to encourage more people to build more refineries.”

The Edo Refinery is a 6,000bpd capacity plant, which is being

INEC Declares APC Candidate, Okpebholo Winner of Edo Central Senatorial Seat Akpatason, Mercy Johnson's husband win Akoko-Edo, Esan Northeast/Esan Southeast Federal constituencies’ seats Adibe Emenyonu in Benin City The Independent National Electoral Commission (INEC) in Edo State yesterday, declared the All Progressives Congress (APC) candidate, Monday Okpebholo as winner of Edo Central Senatorial seat.

This was the first time since 1999, that a party other than the Peoples Democratic Party (PDP) would win the senatorial seat in the senatorial district.

He scored 41,334 votes to defeat the LP candidate who garnered 32,574 votes while the PDP candidate, Clifford Odia, got 25,225 in the results as announced

by Prof. Ray Ozuolua.

Also, House of Reps Deputy Majority Whip, Peter Akpatason, was declared winner of AkokoEdo federal Consituency Also declared as winner in the Esan Northeast/Esan Southeast federal constituency was the husband to the Nollywood actress, Mercy Johnson, Odianose, Okojie.

Both won their seats under the platform of the All

Progressives Congress (APC).

Announcing the result in Igarra, headquarters of the constituency, the INEC Collation Officer, Prof. Robert Okuonghae said Akpatason who is the candidate of the APC, scored a total of 14,982 votes to defeat his closest rival, Hon Kabiru Adjoto of the PDP, who polled 9,293 votes while according to Okuonghae, Labour Party scored 7,993.

Okojie won the House of Representatives seat for the Esan South-East/Esan North East Federal Constituency as he scored a total of 21,764 votes to defeat the PDP which scored 10,007 while LP scored 11,528.

The results were announced

by Dr. Victor Imade.

The APC also won the Etsako Federal Constituency where its candidate, Dekery Anamero was announced as the winner after scoring 58,692 votes to defeat Andy Momodu of the PDP who scored 25,132 as announced by the returning officer, Professor Buniyamin Adesina Ayinde.

expanded to 21,000bpd. The facility with its feedstock can produce 50 per cent of diesel (500,000 litres), 25 percent of naphtha (300,000 litres) and 20 percent of Low Pour Fuel Oil (LPFO) (200,000) litres.

The company got its first supply of 10,000 barrels of crude feedstock from Decklar Resources Inc. and its co-venturer, Millennium Oil & Gas Company Limited, which operates the Oza Oil Field.

According to the governor, “We are encouraging people in the Gelegele axis to also come to invest in the opportunities of the gas there. You know our government is one that encourages private investment and provides the enabling environment for people to come and invest.”

On his part, the Enogie of Ologbo Dukedom, HRH Owen

Akenzua commended the governor for his developmental strides, promising to work with the state government to ensure peace and security in the area.

Meanwhile, Obaseki has said his administration, in the past six years has focused on reforming all sectors of the state, sustaining the investment in education, infrastructure, technology, agriculture, security, among others to improve the livelihoods of the people and achieve economic prosperity for the state.

Obaseki, in a state-wide broadcast, said his administration had built several kilometres of roads to open more areas in the state for economic activities, ensured a conducive environment for businesses and invested hugely in infrastructure and other sectors to attract investors and boost the economy of the state.

According to him, “Since you

elected me as your governor in 2016, I, with my team, have totally dedicated ourselves to the service of Edo State. We have built hundreds of kilometres of roads across the three Senatorial Districts of the state.

We have invested significantly in education, particularly in basic education through our EdoBEST programme and are beginning to reap the fruit of this investment in our children.

“Through EdoJobs, we have created over 200,000 jobs in agriculture, production, technology and entertainment.

“Because of the importance of electricity to our development, we were able to attract investors to the Azura 450MW project and the OssiomoIPP. With available electricity, we are lighting up our cities and attracting manufacturing companies into Edo.”

“The Edo State Oil Palm Programme, where we have attracted several large-scale international and domestic companies to estate farming, is now the reference in agriculture in Africa. More Edo citizens are now investing in agriculture,” he added.

Obaseki further noted, “We have attracted global retail chains, with sprawling new malls opening in the state; this is in addition to several top-class hospitality and entertainment businesses. Benin Airport has become the third busiest in the country in terms of passenger traffic and consequently, our hotels have occupancy rate averaging not less than 80 per cent daily. n the area of security, working closely with our communities, we have been able to make Edo a much safer place to live.”

US: China Lethal Aid to Russia for Ukraine War Would Come at Real Cost China has not moved toward providing lethal aid that would help Russia in its invasion of Ukraine and the United States has made clear behind closed doors that such a move would have serious consequences, White House national security adviser Jake Sullivan said yesterday.

"Beijing will have to make its own decisions about how it proceeds, whether it provides military assistance - but if it goes down that road it will come at real costs to China," Reuters quoted Sullivan to have told CNN's "State of the Union" program.

China has not moved forward in providing that aid, but neither has Beijing taken that option off the table, Sullivan said in a separate interview on ABC's "This Week" program.

US officials have warned their Chinese counterparts privately about what those costs might be, Sullivan said, but he would not elaborate on those discussions.

The United States and its NATO allies in recent days have been scrambling to dissuade

China from such a move, making public comments on their belief that China is considering providing lethal equipment to Russia. US Secretary of State Antony Blinken on Friday said China has been providing nonlethal assistance to Russia through its companies.

US President, Joe Biden, visited Kyiv and met with President Volodymyr Zelenskiy last Monday, promising new American military aid for Ukraine worth $500 million. Friday marked the first anniversary of Russia's invasion.

The United States has been by far the largest supplier of military assistance to help Ukraine repel better-equipped Russian forces.

Ukraine expects a major new Russian offensive soon.

"We're confident that the Chinese leadership is considering the provision of lethal equipment.

We also don't see that a final decision has been made yet, and we don't see evidence of actual shipments of lethal equipment," Burns told CBS's "Face the Nation" program.

Republican Representative

Michael McCaul, chairman of the House of Representatives Foreign Affairs Committee, cited reports that drones are among the lethal weapons China has considered sending to Russia.

McCaul said Chinese leader Xi Jinping was preparing to visit Moscow next week for a meeting with Russian President Vladimir Putin.

Putin had alluded to a Xi visit but the timing has not been confirmed by Russia or China.

Russia and China signed a "no limits" partnership in February 2022 shortly before Russian forces invaded Ukraine. Economic links between Russia and China have deepened while Moscow's connections with the West have shriveled.

Biden said on Friday the United States would respond if China were to supply Russia with lethal weapons to use in Ukraine, but added in an interview with ABC News, "I don't anticipate a major initiative on the part of China providing weaponry to Russia."

The West has been wary of

China's response to the invasion, with some officials warning that a Russian victory would color China's actions toward Taiwan.

Beijing has never renounced the use of force to bring the selfruled island that it considers a wayward province under its rule.

China has not condemned the conflict in Ukraine or called it an "invasion."

"The fact that they're going to meet next week, Chairman Xi and Putin, to discuss this unholy alliance that they have, to put weapons into Ukraine, to me is very disturbing because while maybe Ukraine today, it's going to be Taiwan tomorrow," McCaul said. "That's why this is so important."

The West reacted with skepticism to China's proposal on Friday for a Ukraine ceasefire, with NATO Secretary-General Jens Stoltenberg saying Beijing did not have much credibility as a mediator because of its failure to condemn the invasion. Ukraine rejected the proposal unless it involves Russia withdrawing its troops.

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LISABI FESTIVAL… L-R: Oba Saburi Babajide Bakre, Gbagura of Agura; Oba Adedotun Aremu Gbedebo, Okukenu IV, Alake of Egba Land and Oba Saka Adeola Matemilola, Oluwu of Owu with the Seaman's Schnapps entourage standing behind during a courtesy visit to the palace, during the Lisabi Festival in Abeokuta.... recently

Elections: ActionAid Asks INEC to Address Challenges Observer group insists electoral body conducted peaceful polls

Emmanuel Addeh in Abuja International civil society organisation, ActionAid Nigeria (AAN), has released the initial reports from its observation of the Presidential and National Assembly elections, which were held across the country at the weekend.

In the report, the AAN stated that it deployed 510 observers of the trained 650 to Lagos, Kano, Enugu, Rivers Jigawa, Kaduna, Akwa Ibom, Cross River, Niger, Delta, Ekiti, Kwara, Gombe, Taraba, and Yobe states.

According to AAN, to facilitate the processing from the field, it established a technical room that fed into the Nigeria Civil Society Situation Room with processed data.

Part of the observations included cases of evidence of late arrival of INEC staff and election materials, arrival of INEC staff at polling units without security personnel and reported cases of disruption and violence in some polling units in Kogi, Akwa Ibom, Lagos, and Enugu states, and the FCT. Although the group commended

INEC for its one-day extension of the presidential and national assembly polls in some affected areas that had voting challenges, it called on the electoral body to critically examine the challenges, to avoid a repeat during the state’s elections, which are only weeks away.

The report read in part, “Our field observation reveals the following: Evidence of late arrival of INEC staff and election materials in many polling units, with some polling stations opening as late as 11.30am such as in Rivers State, Ward 17 under Obio/

PDP TO BUHARI: CALL APC, TINUBU TO ORDER FOR CLAIMING VICTORY voting massively for Atiku, whom it said had begun to coast home to victory, the PDP also tasked the Independent National Electoral Commission (INEC) on transparent collation of results.

At the same time, the APC Presidential Campaign Council has cautioned against attempts to discredit the election, saying not only will it fail, but that the electoral commission should be allowed to discharge its duty In a statement by the Director of Strategic Communication, PDP Presidential Campaign Council, Dele Momodu, the party said, it would be unfair for the APC to claim victory as reported in a newspaper allegedly owned by the APC presidential candidate, Bola Tinubu.

"Our attention has just been drawn to the recklessly dangerous publication unilaterally awarding an impossible victory to the APC Presidential candidate Chief Bola Tinubu. The said newspaper is owned by Tinubu.

"The only candidate with the national spread is the PDP Presidential candidate, former Vice President Atiku Abubakar. But as a responsible citizen and respected statesman, he will never rush to the media to claim his well-deserved victory and glory after a long and torturous journey,” he said.

Explaining how Tinubu lost the election, he said, "Most of the Northern governors he also expected to help him garner votes in the Northern regions failed spectacularly to deliver the badly needed votes. He failed in the South East and South South.

"Tinubu remains the only mainstream candidate, whose homebase of South West was decimated by opposition parties in Lagos, Ogun, Ondo, Oyo, Osun and Ekiti. Most of the Northern Governors he also expected to help him garner votes in the Northern regions failed spectacularly to deliver

the badly needed votes. He failed in the South East and South South," he explained.

The Director said it was well known how thugs of the APC Chieftains and his allies took over the streets of Lagos, burning ballot boxes and documents and generally misbehaving in other to disenfranchise the determined electorates.

"Despite all of these ugly attempts at stealing victory, the APC suffered its worst cataclysmic loss in most of the polling centers in Lagos. The same happened in Kano. Incapable of ever being sobered by the crushing humiliation in its traditional territories.

We woke up this morning to read about the pathetic and illegal lies cooked up by the Tinubu media goons.

"We hereby call on INEC and the federal government to cage these troublesome APC Chieftains.

We have all been witnesses to their unruly behaviour as they did everything to bully and blackmail President Muhammadu Buhari in order to chicken out of the currency swap policy.

"We also witnessed how they practically intimidated the President to the extent of forcing him to publicly display who he voted for in yesterday's elections. It was quite a bizarre, unfortunate and unprecedented scene to watch.

"We advise the president to find the courage to call the bluff of these desperate politicians, who feel they can buy the whole of Nigeria," Momodu stated.

PDP Exposes APC’s Plot to Alter Results in Katsina, Kaduna, Kano, Zamfara, Others

The PDP has said it was alarmed by reports that Governors Aminu Bello Masari, Nasir el-Rufai, Abdullahi Ganduje and Bello Matawalle of Katsina, Kaduna, Kano and

Zamfara States, were allegedly mounting pressure on officials of the Independent National Electoral Commission (INEC) to alter results of the presidential elections in favour of the APC. In a statement by the National Publicity Secretary of the party, Hon. Debo Ologunagba, the PDP said, "These desperate APC governors are allegedly pressuring and blackmailing INEC officials to manipulate the results and transfer massive votes validly cast for the PDP and its Presidential Candidate, Atiku Abubakar to the rejected APC and its Presidential Candidate, Asiwaju Bola Ahmed Tinubu.

"Our party has been informed that this nefarious scheme by the APC governors is responsible for the stalling of collation of election results in Katsina, Kano, Kaduna, Zamfara and other APC states, where the presidential candidate of the APC is alleged to have released over N11 billion per state to rig the election in his favour.

"This, our party has been made aware, is responsible for the unexplained delay in the transmission of election results from the said states to INEC Server in Abuja Continued on page 36

Akpor LGA and Okumagba II in Warri South, Olodi Primary School, Delta State at 2.30pm.

“INEC staff arrived at some polling units with sensitive materials without security personnel. Evidence of unsealed election materials with some already thumb-printed ballot papers (e.g. LEA primary school, Saburi, a suburb of DeiDei in FCT).

“Some polling units continued voting till the early morning of Sunday 26th while others, especially women may be disenfranchised because of the late-night voting. This is evident in Gwarinpa Estate 2, Tipper Garage polling unit, SunnyVale Estate, and Lugbe Ako, all in FCT. “This may lead to fatigue and stress on INEC officials and subsequently irreversible errors and omissions during the voting, sorting, and counting processes. The extension of voting hours into the early hours of Sunday has also contributed to a delay in uploading results on INEC portal. The security of both INEC staff, Voters and voting materials could be compromised because of late-night voting.

“Reported cases of disruptions and violence in Dekina LGA, Kogi state, and in Ikpanya Ward in Ibio Ibom LGA of Akwa Ibom where thugs disrupt and destroy electoral materials. Ballot boxes in two polling units in Mafoluku by Ijaiye area, Lagos were reportedly burnt, and some INEC’s ad-hoc staff were assaulted for reportedly being involved in some electoral offences, leading to disruptions in some polling units in places like Abakpa, Enugu State and Lugbe in FCT.” The report added: “ActionAid commends INEC for extending the Presidential and Senate election by a day in some locations with voting challenges. This largesse needs to be extended to more locations across Nigeria where voting commenced late and all registered voters at the

polling unit are yet to vote.

“Nevertheless, we enjoin INEC to critically examine the challenges experienced today so that a repeat of the same at the state level elections are avoided. And the locations where elections continue today or may be combined with the gubernatorial elections should be made public” Meanwhile, an accredited election observer and member of Voters Awareness Initiative (VAI), has commended INEC, stressing that the umpire conducted a successful and credible presidential and national assembly election.

In a press statement issued in Lagos yesterday by its president, Wale Ogunade the group lauded what it termed the resilience and perseverance of eligible Nigerians voters for coming out on election day to cast their votes for candidates of their choice.

"We are thrilled by the peaceful conduct of the election in most of the polling stations across states of the federation, save for the pockets of disturbances in some selected polling stations in some states which is condemnable. But it is not enough to undermine the success and credibility of the election," it maintained.

However, the group noted that from its observation of the election through the deployment of over 100 observers across states in the six geopolitical zones and reports monitored via other observer groups and the media, there were late arrivals of INEC personnel and materials at some polling stations.

It also highlighted that there were BVAS machine hitches, but explained that on the overall assessment of the process based on observation, the hiccups were too insignificant to taint the credibility of the election.

It also commended the security agencies for their professionalism, dedication, unbiased conduct and scientific deployment of security

apparatus which contributed in no small measure to the success, credibility and peaceful conduct of the election.

In addition, it congratulated the local and international observer groups for a job well done in the objective and professional discharge of their functions in the conduct of the election.

The media was also appreciated for its professional and objective coverage and reportage of the election which it said was a great contributory factor to the successful conduct of the election.

In addition, VAI said the party agents were peaceful and responsible in their conduct, which it noted was a radical departure from the past and contributed to the peace, success and credibility of the election.

“Unfortunately, anti-democratic elements and agents of destabilization have unleashed an avalanche of fake news, fake election results, doctored audio and videos into the public space with a view to misleading and inciting public unrest.

“VAI uses this press statement to call on the security agencies to investigate the sources of the fake news, results, audios and videos with a view to bringing the full weight of the law on these agents.

“VaI is saddened and condemns in the strongest terms, the anti-democratic calls from expected quarters for the cancellation of an election whose results have not been officially announced even when incontrovertible evidence on ground point to the fact that it has been conducted in substantial compliance with provisions of the electoral Act,” it said.

As Nigerians await the official final declaration of results, the group called on INEC not to be distracted by the campaign of ‘blackmail and calumny', but to remain focused and resolute in the discharge of its functions in accordance with the provisions of the electoral Act.

Confusion Trails Abia REC's Whereabouts Emmanuel Ugwu-Nwogo in Umuahia

The whereabouts of the Resident Electoral Commissioner(REC) for Abia State, Prof Ike Uzochukwu is generating confusion and anxiety following unconfirmed reports that he was arrested on Sunday by the operatives of the Department of State Service(DSS) A DSS source said the Abia REC was not arrested but was only, "invited for a meeting," at

the State Command of the security agency. He was not forthcoming on whether Prof Uzochukwu was allowed to go home after the meeting.

When contacted over the alleged arrest of REC, the head of voter education and publicity, Mrs. Rebecca Jim said she was not aware of any arrest.

However, she admitted that the REC "has not been seen in the office since today(Sunday)".

The Administrative secretary,

Mr. Clement Oha, briefed some journalists on Sunday evening about some areas in the state where election would hold Monday he was asked if he was standing in for the REC. His response was that he was speaking in his official capacity as the administrative secretary.

Oha explained the absence of the REC, saying that it could be he was having a rest since he only left office about 4.00am on Sunday after the presidential and National

Assembly elections.

According to the unconfirmed reports, the Abia REC was picked at his hotel room in Umuahia by the DSS operatives and whisked away to the state command at Ogurube Layout Umuahia.

Meanwhile the collation of results of the presidential poll from the 17 local governments of Abia was still ongoing at the INEC state office in Umuahia despite the uncertainty surrounding the whereabouts of the REC.

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MONDAY, FEBRUARY 27, 2023 • T H I S D AY

NEWS

FASHOLA AFTER CASTING HIS VOTE ON SATURDAY...

Minister of Works and Housing, Mr Babatunde Fashola, SAN speaking with Journalists shortly after casting his vote during the Presidential, Senatorial and House of Representatives Elections at the Ward G3, Unit E002, State Junior Grammar School, Itolo Street, Surulere, Lagos on Saturday,

Migrant Shipwreck in Italy Kills 59, Including 12 Children At least 59 people died, including 12 children, when a wooden sailing boat carrying migrants to Europe crashed against rocks near the southern Italian coast early on Sunday, authorities said.

The vessel, which sailed from Turkey and was carrying people from Afghanistan, Iran and several other countries, sank in rough seas before dawn near Steccato di Cutro, a seaside resort on the eastern coast of Calabria, Reuters reported.

The incident reopened a debate on migration in Europe and Italy, where the recently-elected rightwing government's tough new laws for migrant rescue charities have drawn criticism from the United Nations and others.

Manuela Curra, a provincial government official, told Reuters that 81 people had survived the shipwreck. Twenty of them were hospitalised, including one person in intensive care.

Interior Minister, Matteo Piantedosi, who travelled to the scene, said 20-30 people might still be missing, amid reports from survivors that the boat had been carrying between 150 to 200 migrants.

The vessel set sail from the western Turkish port of Izmir about four days ago and was spotted about 74 km (46 miles)

off the Italian coast late on Saturday by a plane operated by European Union border agency Frontex, Italian police said.

Patrol boats were sent to intercept it, but severe weather forced them to return to port, police said, adding that authorities then mobilised search units along the coastline.

A baby aged only a few months was among those found washed up on the beach, ANSA news agency said.

Emergency doctor Laura De Paoli described finding another dead child, aged seven.

"When we got to the point of the shipwreck we saw corpses floating everywhere and we rescued two men who were holding up a child.

Sadly, the little one was dead," she told ANSA. His voice cracking with emotion, Cutro's mayor, Antonio Ceraso, told the SkyTG24 news channel that he had seen "a spectacle that you would never want to see in your life ... a gruesome sight ... that stays with you for all your life".

Wreckage from the wooden gulet, a Turkish sailing boat, was strewn across a large stretch of coast.

One survivor was arrested on migrant trafficking charges, the Guardia di Finanza customs police said.

Italian Prime Minister Giorgia Meloni expressed deep sorrow for

the deaths, and blamed human traffickers who profit while offering migrants "the false prospect of a safe journey."

"The government is committed to preventing departures, and with them the unfolding of these tragedies, and will continue to do so, first of all by calling for maximum cooperation from the countries of departure and of origin," she said.

Meloni's administration said

migrant rescue charities were encouraging migrants to make the dangerous sea journey to Italy, and sometimes work in partnership with traffickers.

"Stopping, blocking and hindering the work of NGOs (non-governmental organisations) will have only one effect: the death of vulnerable people left without help," Spanish migrant rescue charity Open Arms tweeted in reaction to Sunday's shipwreck.

However, the coast off Calabria has not been patrolled by NGO ships, which operate in the waters south of Sicily. That suggests they would have been unlikely to intercept the shipwrecked migrants regardless of Meloni's crackdown.

The head of the Italian Catholic Church, Cardinal Matteo Zuppi, called for the resumption of an EU search and rescue mission in the Mediterranean, as part of a "structural, shared and humanitarian

response" to the migration crisis.

A spokesman for the United Nations' International Organisation for Migration (IOM), in the same vein, appealed on Twitter for the strengthening of rescue operations in the Mediterranean.

Flavio Di Giacomo also called for the opening of, "more regular migration channels" to Europe, and action to address what he said were the multiple causes pushing people to try the sea crossings.

One Killed, Another Hospitalised as Thugs Destroy Collation Centre in Kano Ibrahim Shuaibu in Kano The Kano South Senatorial candidate of the New Nigeria Peoples Party (NNPP) Suleiman Kawu Sumaila has alleged that at least one person was killed and another injured when hoodlums attacked the collation centre at Takai local government area of Kano state.

In an emergency press briefing yesterday, in Kano, after the collated votes of the Kano South senatorial zone had placed him in the lead, he accused the opposition All

Progressives Congress (APC) candidate, Kabiru Gaya, of masterminding the attacks where the collation centre was burnt down.

He further alleged that intelligence reports available to him showed that the same incidence was being planned for Rano local government area to disrupt collocation of the voting results.

"Even though the security agencies did their best in overcoming the challenges, from yesterday to date, reports reaching us are not good.

"Our opponents, the APC, are planning to attack some coalition centres. We made this information available to security agencies.

"It so happened that one of the collation centres at Takai local government was attacked today at about 10:00 am. Some miscreants came with weapons and tried to disrupt the collation process.

"They beat up some officials at the collation centre, they shot at some of our supporters who were there waiting to witness the declaration of results.

Unfortunately, one is dead and the other is hospitalised at the moment" he stated.

Police Spokesman in Kano, SP, Abdullahi Haruna Kiyawa, confirmed the incident, adding that voting materials were evacuated and arrests were made.

"Attempts were made by some miscreants to burn down the place but the fire was put out and all the election materials were evacuated.

"More so, three persons have been arrested and investigations are on," he stated.

were accredited.

In Aniniri LG, the LP candidate scored a total of 11,339 votes while the PDP scored 395 votes and APC 64. There were a total of 79,917 registered voters.

President, Comrade Joe Ajaero, the labour movement asked INEC to reject election results from Lagos State following reluctance by the Resident Electoral Officer in charge to transmit the BVAS reports for the presidential election to the official INEC Servers.

NLC said the commission should not only reject the result but ensure that those responsible be prosecuted.

"This is completely unacceptable and we want INEC to ensure that any cooked result from any REC is not only rejected but the offenders be made to face the full weight of the law.

"INEC must understand that not uploading the results to its Server expeditiously as expected creates avoidable crisis of confidence and imperils the entire process.

We continue to express our deep concerns over the apparent manipulation of results in Lagos

and Rivers States and demand that the real results as captured by the BVAS be uploaded without fail,” Labour stated.

In the statement titled: "Is INEC subverting Nigeria?", NLC said it, "feels compelled to warn INEC and the Security agencies of the dangers of subverting the sovereign will.

We warn INEC and others not to allow this election to degenerate into a national security crisis.

“This is avoidable and it is only by allowing the sovereign will prevail that we can guarantee national peace. The belief that it is going to be business as usual should be discountenanced as the tension since after the casting of votes should be enough signal to anybody planning a heist of the vote," it said.

NLC said the commission must be seen as above board and acting within the ambits of the law and its guidelines.

TENSION AS NIGERIANS AWAIT PRESIDENTIAL ELECTION RESULTS Kwankwaso Leads in 25 Kano LGAs

Presidential Candidate of the New Nigeria People's Party (NNPP), Senator Rabiu Musa Kwankwaso, has taken a lead over other presidential candidates in the 25 local government areas of Kano State, going by the results so far announced by the INEC while the APC has won four LGAs. .

In a related development, candidate of the APC, Bola Tinubu, was reportedly leading in 18 out of the 29 local governments so far declared in Katsina, while the PDP candidate, Atiku Abubakar, has 11 to his credit. There are five more local governments to go.

At the time of filing this report, collation of results were still on-going at INEC office, Kano, while the state remained calm and peaceful.

But there were indications that the total results for Kano might not be ready till today, Monday.

Kano State Governor, Abdullahi Umar Ganduje, lost his local government area to Kwankwaso.

Ganduje is from Ganduje village in Dawakin Tofa local government area of the state.

From the results announced by the returning officer, Adamu Jibril, APC scored 16,773 votes while NNPP scored 25,072 votes. PDP scored 2,477 votes and Labour got 202 votes.

Also, Nasiru Sule Garo, the House of Representatives Candidate for Gwarzo/ Kabo Federal Constituency on the platform of New Nigeria People's Party, has rejected the results of his constituency over alleged over voting.

Addressing a news conference, Garo said his decision to reject the results was based on the physical

evidence of massive collaboration with state government, INEC officials and security agents in carrying out the electoral malpractice.

Obi Wins Three Out of Seven LGAs in Enugu

Presidential candidate of the Labour Party (LP), Peter Obi, has won three local governments out of the seventeen local governments announced so far in Enugu State.

Obi was declared winner of the polls in Enugu South and Nkanu East LGs at the INEC collation centre in the state.

At Nkanu East, the LP candidate polled a total of 11,746 votes while the PDP scored 1430. The APC got 96 votes.

At Enugu South, the LP got a total of 38,511 votes while the PDP got 336 votes and the APC scored 194 votes. Out of a total of 178,654 registered voters, only 40, 347 voters

NLC Warns INEC, Security against Subverting People's Will

The Nigeria Labour Congress (NLC), has weighed in on the controversies trailing weekend's presidential and National Assembly elections in some states, and cautioned the INEC and security agencies against colluding to subvert the people's will.

Addressing alleged complicity by INEC officials to scuttle the election and unleash violence, NLC urged President Muhammadu Buhari to immediately call the leadership of the commission to order.

In a statement by the NLC

MONDAY FEBRUARY 27, 2023 • T H I S D AY

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MONDAY FEBRUARY 27, 2023 • T H I S D AY

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T H I S D AY ˾ MONDAY FEBRUARY 27, 2023

16

Acting Group Politics Editor DEJI ELUMOYE

POLITICS

Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

M O N D AY D I S C O U R S E Long Wait for Presidential Election Result as Poll Drags into Night Deji Elumoye and Francis Sardauna write that Nigerians may be in for a long wait for the result of the presidential election held on Saturday in all the 36 states of the federation and Abuja with the poll dragging into late in the night in Katsina, the home state of President Muhammadu Buhari.

Buhari

T

he 2023 presidential and national assembly election which took place on Saturday, February 25, was held amid controversies with the election being inconclusive in some parts of the country.

At the close of ballot on Saturday, the electoral body which is the Independent National Electoral Commission (INEC) had to direct that election should be held on Sunday in some polling units in Bayelsa and Delta states where election did not take place.

Even in other states where the election took place although not without some hitches, the presidential election result more than 24 hours after the poll was yet to get to Abuja where it is expected to be declared.

This development made the INEC Chairman, Prof Mahmoud Yakubu, to postpone the commencement of the collation of presidential result state by state at the International Conference Centre in Abuja till 6pm yesterday.

In his remarks on Sunday morning at the National Collation Centre, the INEC boss advised Nigerians to disregard all unapproved results being posted on the social media adding that state by state results will be announced

by State Collation Officers for Presidential Election (SCOPE) while the final declaration of results will be done by the INEC Chairman who also doubles as the Returning Officer for the presidential poll.

“Only INEC-sanctioned results are allowed....

We are certain that by 6pm, one or two of the SCOPEs would have arrived”, Yakubu emphasised.

With none of the 36 states and FCT results for presidential election yet to be declared as at 6pm on Sunday, there is the likelihood that the final presidential result may not be announced earlier than Tuesday or Wednesday this week.

Meanwhile, the presidential and National Assembly elections conducted by the Independent National Electoral Commission (INEC) in Katsina State might have come and gone, but some of the recurrent issues that dogged the exercise in some polling booths last Saturday will continue to linger for some time.

Apart from low turnout of voters and late arrival of election materials in some polling stations, many eligible voters were not particularly enthusiastic as most of them, especially those living in rural communities, went about their normal businesses despite the restrictions of movement by police.

Election officials blamed the delays on logistical issues, though other observers pointed to the upheaval created by a redesigned currency that has left many unable to obtain bank notes.

The cash shortage affected transport not only for voters but also election workers and police officers providing security.

But it remained unclear how many voters in

Yakubu

the state were deterred because of the cash crisis, which has left Nigerians with funds in their bank accounts unable to obtain the cash they need for their daily humanitarian needs like gas and taxis.

Some apparently frustrated voters cast their ballots with flashlights in most of the 361 political wards of the state while others stood watch at their polling stations as counting got underway late Saturday amid fears of vote tampering after a day of delays in President Muhammadu Buhari’s home state.

Also, eligible voters who were displaced from their polling units as a result of persistent bandits’ onslaughts on their ancestral homes in Batsari, Jibia, Sabuwa, Kankara, Safana, Faskari, Kurfi and some frontline local governments in the state, were relocated to safer areas where they casted their votes.

Voting ended well beyond schedule in many places after delays, and in other areas the exercise stretched into the night due to late arrival of election materials and officials. It was observed that accreditation and voting commenced simultaneously but late in some centres with low turnout of eligible voters, while some polling stations witnessed large turnout of voters, especially women.

Although the exercise was generally peaceful across the state, it experienced some technical hitches using the Bimodal Voter Accreditation System (BVAS) device in the morning causing a delay in the commencement of

Masari

the voting process, but the elections later commenced in centres that were hitherto affected.

For instance, in Masari ward A, polling unit 001, Kafur local government area of the state, after setting up the PU between 9.00am to 9.30am and pasting relevant electoral information such as the list of registered voters, the presiding officer explained the accreditation and voting procedures to all present, and he declared the PU open for accreditation and voting, but he was unable to operate the BVAS. The issue was later resolved with the assistance of another INEC official via a telephone conversation. Voters who were verified, authenticated and accredited and issued with a ballot paper, proceeded to a cubicle, without a recording device or android phone and indicated the candidate or party of their choices in secrecy.

Governor Aminu Bello Masari, who cast his ballot at the polling unit where he was born 72 years ago, expressed satisfaction with the electoral process and predicted victory for the ruling All Progressives Congress (APC). He, however, urged Nigerians to embrace peace, eschew violence and vote for responsible and credible leaders as they exercise their franchise across the country.

According to him, “My appeal to the people, not only Katsina but of Nigerians residing in Katsina, is to vote peacefully and to vote for responsible and futuristic leadership because the future is what holds for a younger generation”.

Also, in all the polling units visited in Malumfashi local government, the centres witnessed late arrival of election materials and officials in spite of the early arrival of a handful eligible voters seen at the polling stations as of 9:am.

However, at Galadima Model Primary School, a centre with six polling units, a large turnout of voters was recorded but without voting materials as at 9:25am, prompting some residents to express dissatisfaction with the process.

“It is disappointing, but we will wait to exercise our franchise”, Usman Adamu, one

Even in other states where the election took place although not without some hitches, the presidential election result more than 24 hours after the poll was yet to get to Abuja where it is expected to be declared.

This development made the INEC Chairman, Prof Mahmoud Yakubu, to postpone the commencement of the collation of presidential result state by state at the International Conference Centre in Abuja till 6pm yesterday

of the electorate said.

Although the stipulated time for voting, according to the nation’s electoral umpire, is from 8:30 a.m to 2:30 p.m, it was observed that voting was still in progress in some polling units in some parts of the state as of 5:31pm.

The development followed the delay in the arrival of materials and electoral officials.

At President Muhammadu Buhari’s polling unit PU 003 Kofar Baru Babban Tone quarters, Sarkin Yara A ward Daura, voting was still ongoing as of 4:09 p.m. just like in PU 009 Wakilin Kudu III in the Katsina metropolitan area. Voting also exceeded the INEC official time at PU 011 Kofar Durbi, Makera at the metropolis. In Wakilin Arewa 1, ATC, there were long male and female queues as of 4:56pm.

At Tamaske village, Dogo/Game PU 002, Dutsi Local Government Area, it was also observed that voting was still ongoing as of 4:20 p.m, with large turnout of voters, especially women and youths. Perhaps not peeved by the delay, the voters waited patiently to exercise their constitutional and civil rights.

The exercise was temporarily suspended at Kasaya Ward, Polling Unit 012 in Sandamu local government area of the state. The process was disrupted by a party agent who alleged that all the early votes cast at the polling unit were in favour of the opposition PDP, but the unrest was later resolved by security agencies and voting continued till 9pm on Saturday.

In Kankia local government, hundreds of voters were seen in long queues casting their votes as of 5:31pm as seen in Galadima ward A, Bakin Kasuwa primary school and Bakin Kasuwa H/Yamma primary school polling units. Coalition of results in these polling units was done in the night.

But a good number of electorate who trooped out to vote for their candidates in the area, expressed satisfaction and confidence in the process. Although there were hitches in some areas, they described the process as peaceful, devoid of rancour hence commended INEC. One of the voters, Malam Abdullahi Aliyu, said: “The election was free, fair and devoid of any political intimidation”. He thanked security operatives for their uprightness in ensuring a peaceful election across the zone.

Similarly, Khadija Babangida, who voted at Bakin Kasuwa PU 001, described the elections as very peaceful, saying she was impressed with the exercise. “I am very impressed that people have turned out and are patient, because we have issues with the BVAS machine. I want to commend the good people in this polling unit, because they have been very patient”, she added.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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T H I S D AY ˾ MONDAY FEBRUARY 27, 2023

MONDAY DISCOURSE

Advancing Nigeria’s Democracy through Cashless Election Fidelis David reports that as Nigerians and the rest of the world curiously await the results of Saturday’s Presidential and National Assembly elections, many people including political pundits believe that the election has once again brought to the fore the political consciousness of the people and the seemingly three-horse-race shows that the nation’s democracy is advancing.

Akeredolu

C

hairman of the Independent National Electoral Commission (INEC), Prof Mahmoud Yakubu, ab-initio, promised a free and fair election most especially with the introduction of the Bi-modal Voters Accreditation System (BVAS) but the outcome of the poll so far shows clearly that INEC is improving but still has a long way to go.

Turnout of Voters in Ondo There was large turnout of electorate and tight security across Ondo state on Saturday during the Presidential and National Assembly elections in the state and one could categorically say the outcome of the elections would show true reflection of the popularity of the participating political parties and the candidates.

Security agents were seen patrolling major towns and polling units to ensure peaceful conduct of the elections. However, security breaches were reported in six villages (camps) in Idanre Local Government Area of the state, which include Omifunfun, Olowo’fariwo, Alejaya, Jingbe, Oniyewu and Legbira.

THISDAY observed the presence of men of Nigeria Army, Police, Nigeria Security and Civil Defence Corps (NSCDC), Department of State Service (DSS), Federal Road Safety Corps (FRSC) and Nigeria Immigration Service (NIS) at strategic points during the polls.

As earlier as 8am, eligible voters were at their polling units with the Independent National Electoral Commission (INEC) officials arranging voting materials for the election. However, there were some areas where late arrival of INEC officials and materials were reported.

At Ward 5, Units18 and 19 at Alagbaka Primary School in Akure South Local Government, voters turned out in large number, a development which led to delay in completion of voting by the electorate. As of 5:00 pm, some of the electorate were still in the queue waiting to cast their votes.

THISDAY also observed that there was low turnout by youths across the state as the queues were dominated by aged and adults while people with disabilities were first attended to by the electoral officers.

The ‘Dibo ko Sebe’ Syndrome Saturday’s election has demonstrated the possibility of voting without being induced with cash. The ‘dibo ko sebe’ (vote and cook soup) syndrome which is said to have originated from Ondo was reduced to barest minimum.

In previous elections, the political fraud was given the name ‘see and buy’, with political party agents invading polling units with bags of money. They approached voters who had PVCs and convinced them to vote for their parties.

The vote sellers were offered between N5,000 and N10,000 for a vote.

However, in Ondo West Local Government, some electorate who preferred anonymity alleged that they were offered N10,000 per vote ‘electronically’.

Cashless Election and the Functionality of BVAS The naira scarcity and the central bank’s cashless policy, to some extent tackled vote-buying during the elections.

Meanwhile, some voters in Oba Ile, Akure

Mimiko

North Local Government Area of the state remained stranded as the BVAS machine was unable to read their voters cards.

At ward 09 unit 05, NTA, Oba Ile, most of the electorate said they came as early as 8:00am and were yet to cast their votes but the electoratesl said they will wait till the issue is resolved.

A chieftain of the All Progressives Congress (APC) in Ondo state, Bola Ilori, who described the election as a cashless one however said the introduction of the BVAS has helped the accreditation and voting process.

His words: “The era when somebody can come and use another person’s card seems to be over. If I have any advice, left for INEC, from my observation, is that party agents should be allowed to monitor the BVAS to ensure that it ticks, because as it is now, whatever the person holding the BVAS shakes his head, you might not really know if the BVAS really reads or doesn’t.

“There is no reason why INEC should say party agents should distance from the accreditation officer to affirm that things are correct. I think that will be the last leg in the shame of accreditation process that we’ve seen and I think once they do that, Nigeria will be cool, at least, at the accreditation level. What will be left will be collation and that is easier to track.

“Once there is no issue at the polling units, tracking other level is easy because the primary source is what is very important. Now, if the BVAS work correctly and the agents are sure, tracking every other level of the process will be easier but I think by and large, it is kudos to INEC. Besides, there is no issue of vote buying, we might not know what other things other people may be devising but as for here where I voted, there is no money for anybody to give anybody, so, it is a cashless election”.

The immediate past Governor of the state, Dr Olusegun Mimiko, after casting his vote at polling unit 20, Ward 7 at Agbogbo Oke street of Ondo West LGA expressed sat-

Sowore

Adebayo

isfaction with the functionality of BVAS, noting that deployment of technology by INEC has helped to stem incidences of ballot snatching and vote buying.

Mimiko who expressed optimism that the outcome of the election will be accepted by the people, said: “To a very large extent, I have not got any electoral violence, this process is less stressful in a way that you will just come, vote and go away. I have not heard any report either on ballot snatching, technology has made it a things of the past. But the report I heard was that some people in some areas are trying to harass people in the rural areas where they perceived they are weak.”

Also, former Commissioner for Information and Orientation in Ondo state, Hon Kayode Akinmade, after casting his vote at Apefon ward, unit 8 in Idanre Local Government Area of the state, said, he believes that at the end of the exercise the wishes of the people will come to pass.

and sympathise with the winner of the contest.

This is because the winner of the contest is inheriting a house on fire and will need to act fast to make Nigeria work again. Anybody that wins has the first six months to turn things around and show his readiness to fix Nigeria to make life better for Nigerians.

The Presidential candidate of the African Action Congress (AAC), Omoyele Sowore, on his part, defeated the presidential candidate of the Peoples Democratic Party( PDP), Alhaji Atiku Abubakar, and the candidate of the All Progressives Congress (APC), Bola Tinubu respectively at his polling unit.

Sowore at his RCM PU 005, Ese Odo LGA, Ondo State secured a total of 55 as against, APC 51, PDP 45 votes respectively.

Ondo State Governor, Oluwarotimi Akeredolu, cast his vote in ward 5, unit 6, ljebu Owo, his home town, after arriving his polling unit at exactly 10:47am amid cheers from voters at the unit.

After the initial technical hiccups of the Bimodal Voter Accreditation System (BVAS) which lasted for about eight minutes, Governor Akeredolu was accredited at exactly 10:55am and immediately cast his vote.

Speaking with journalists shortly after exercising his franchise, the Governor said he was not too impressed with the turn out of voters. He however expressed hope that more voters will come out before voting ends.

His words: “Probably, this initial hiccup applied to me only because several people have passed through this and they didn’t have much problem. And I believe that it was caused by the surging crowd, you know they had to clear the crowd, and at a point, they felt it was because I am wearing white, whichever one, the important thing is that at the end of the day, the BVAS machine captured me. That’s all. So, when there is some delay, we should expect it but I have cast my vote.

“Well, I am not too impressed yet with the turnout but I expect that many people will come out. But we need to be larger than this, I have always voted here. But I know that people are going to come out. We are more and it’s too early in the day now, since they know you come and vote and go. So everybody will come out at their own convenient time. Many people will still come and vote.

“But for me, INEC has displayed their Independence, I don’t see anything they are doing now. At least, at this polling booth, I don’t know what is happening in other places but they have been cautious. Those who are there, they are being cautious and I believe that is their independence. For now, I don’t know what is happening in other places.”

Presidential Candidates from Ondo State Another uniqueness in Ondo election is the fact that two presidential candidates including Mr Adewole Adebayo, the Presidential Candidate of the Social Democratic Party (SDP) and the Presidential candidate of the African Action Congress (AAC), Omoyele Sowore, hail from the state.

For Adebayo, the Presidential Candidate of the Social Democratic Party (SDP), he was defeated in his polling unit at Unit 19, Ward 10 barracks road, Ondo West Local Government Area of Ondo State. Result from the polling unit shows that LP had 27 PDP 39, APC 52 while SDP scored 19 votes.

Earlier, while speaking with journalists after casting his vote, Adebayo said he was ready to congratulate Nigerians for the election and sympathise with the winner of the contest.

His words: “I voted against any hitch. I got report from Lagos that they have not seen INEC officials in some places and Katsina some people brought items to give to voters. Plateau, INEC officials. It is a typical election. Issue of hiccups. It is normal election. I feel happy about. The sense that we have done 24 years without military intervention. Buhari has not made any effort that he will not go.

The intention to sell or buy vote has not change.

Hoarding money cannot stop vote buying. It is better not to offer any money like I did not pay SDP agents at the polling unit. We need to pay attention to other political parties. I am not against voter apathy.

“I will congratulate Nigerians for the election

Saturday’s election has demonstrated the possibility of voting without being induced with cash. The ‘dibo ko sebe’ (vote and cook soup) syndrome which is said to have originated from Ondo was reduced to barest minimum.

In previous elections, the political fraud was given the name ‘see and buy’, with political party agents invading polling units with bags of money.

Election Results so Far in Ondo Despite the disqualification of the All Progressives Congress (APC) candidate for Akoko South East/Akoko South West federal constituency in the election, Mr. Adegboyega Adefarati by the Federal High Court sitting in Akure on February 17, the son of former Governor Adebayo Adefarati, who ruled between 1999 and 2003, still won the election with 25,874 votes NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

18

MONDAY, FEBRUARY 27, 2023 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

US: ‘Crimea Remains Part of Ukraine’, Retaking Russian-Held Areas Top Concern

The United States declared Sunday that the Crimean Peninsula remains a part of Ukraine but said the more immediate concern is for Kyiv’s forces to retake lands that Moscow has seized in its yearlong war. The comments came on the ninth anniversary of Russia illegally annexing the territory.

“The United States does not and never will recognize Russia’s purported annexation of the peninsula. Crimea is Ukraine,” the State Department said in a statement.

At the same time, Jake Sullivan, President Joe Biden’s national security adviser, told NBC’s “Meet the Press” that it is up to Ukraine to decide what constitutes victory or an acceptable diplomatic outcome, even though no peace negotiations are occurring.

Ukrainian President Volodymyr Zelensky said last year, “Crimea is Ukrainian. And we will never give it up. This Russian war against Ukraine and the entire free Europe began with Crimea and must end with Crimea, with its liberation.” But Sullivan noted that Zelensky in the past week “has said we are going to have to ultimately get to a diplomatic phase of this conflict.”

Thousands of Russians Flee to Thailand to Escape War Russian tourists are fleeing to Thailand to escape the war in Ukraine or look to move to the Southeast Asian country.

Thailand has become a haven for Russian visitors who are looking to escape Moscow’s war in Ukraine that has now entered its second year.

Visitors are in Thailand but are they fleeing Russia too.

Since Thailand fully reopened its borders and dropped COVID-19 restrictions in October, Russian arrivals have made up the third-largest group of visitors, only behind Malaysia and India, according to government data.

Now thousands of Russians are looking for a new home, fearing economic woes in Russia and a military draft because of the Kremlin’s war in Ukraine.

Thailand has long been a popular holiday destination for Russian tourists. Thailand and Russia are close trading partners and, in 2019, Russia was Thailand’s seventh-largest market for tourism. Thailand has not followed the lead of Western countries and banned Russian visitors.

Russian tourists have taken advantage of that. For the months of October, November and December, Russian arrivals into Thailand were more than 331,000, according to data released

by Thailand’s Ministry of Sport and Tourism.

Thousands of those arrivals also have been investing, buying property, or renting long-term in Thailand. Russian President Vladimir Putin ordered a war mobilisation in September, so for many wealthy Russians, the sunny shores of Thailand are an easy swap for the prospect of being drafted into the Ukraine conflict.

Syria’s Assad Meets Senior Arab Lawmakers in Damascus A delegation of senior Arab parliamentarians met with Syrian President Bashar al-Assad in Damascus Sunday, another sign of thawing ties after more than a decade of isolation over the conflict in Syria.

The heads of the Iraqi, Jordanian, Palestinian, Libyan, Egyptian and Emirati houses of representatives, as well as representatives from Oman and Lebanon, travelled to Syria as part of a delegation from the Arab InterParliamentary Union.

According to the Syrian state news agency SANA, they met with Syrian parliamentarians and with Assad.

Syria was largely isolated from the rest of the Arab world following Assad’s deadly crackdown against protests that erupted against his rule in 2011. The Arab League suspended Syria’s membership in 2011, and many Arab countries pulled their envoys out of Damascus.

But Assad has benefited from an outpouring of support from Arab states following the devastating earthquake on February 6, which killed more than 5,900 people across his country, according to a tally of UN and Syrian government figures.

have asked the Palestinian Authority to pull out of the meeting.

Casualties As Helicopter Crashes in Somalia

Donors have included Saudi Arabia and the United Arab Emirates, which supported rebels seeking to overthrow Assad in the early years of the Syrian conflict..

UK: Elite Russian Forces Suffer Losses in Ukraine An elite Russian infantry force has suffered significant losses in Ukraine, the British Defense Ministry said Sunday.

The ministry said in an intelligence update that imagery from the Vuhledar section of Donetsk oblast shows “concentrated Russian vehicle losses,” with the vehicles probably from Russia’s 155th Naval Infantry Brigade.

The ministry said the Naval Infantry “has been tasked with some of the toughest tactical missions in the war and has suffered extremely high casualties.”

The ministry update, posted on Twitter, said the capability of Naval Infantry brigades has “almost certainly been significantly degraded” because its units have been replenished with “inexperienced mobilised personnel.”

The European Union agreed Saturday to impose new sanctions on Russia over its invasion of Ukraine. The restrictions “are directed at military and political decisionmakers, companies supporting or working within the Russian military industry, and commanders in the Wagner Group,” the EU’s presidency said in a statement.

The 10th round of EU sanctions targets about 120 individuals and entities, including those involved in the abduction of Ukrainian children, those who spread disinformation, Iranians involved in sending drones to Russia and members and supporters of the Wagner Group mercenaries, including its activities in Africa.

The statement said the sanctions restrict exports of the electronic components used in Russian weapons, including missiles, drones and helicopters, and bans some rare earth minerals, electronic circuits and thermal cameras.

Thousands Protest Against Electoral Overhaul in Mexico Thousands gathered in cities throughout Mexico on Sunday to protest against President Andres Manuel Lopez Obrador’s drive to shrink the independent electoral authority, arguing the changes threaten democracy — an accusation he vigorously denies.

Mexico’s Congress last week approved a major overhaul of the National Electoral Institute (INE), which Lopez Obrador has repeatedly attacked as corrupt and inefficient.

Critics of the legislation, which will slash the INE’s budget and staff, are holding marches in Mexico City and other major cities as the contentious shake-up appears poised to go before the Mexican Supreme Court.

Veronica Echevarria, a 58-year-old psychologist from Mexico City taking part in the protest, said she was worried Lopez Obrador’s overhaul of the INE was an attempt by him to take control of the electoral authority so he could stay in power.

Video footage on social media showed people approaching the square holding banners saying ‘hands off my vote’.

The INE and its predecessor played a key role in creating a pluralistic democracy that, in 2000, ended decades of one-party rule, according to many political analysts.

Belarus Leader, Putin Ally Lukashenko, to Visit China Alexander Lukashenko, the president of Belarus and a close ally of the Russian leader, will visit Beijing this week, China’s Foreign Ministry said, as US concerns grow that China is considering providing military aid to Russia.

Spokesperson Hua Chunying said Lukashenko is due to visit Tuesday through Thursday but gave no details about his agenda.

Belarus has strongly backed Moscow and allowed its territory to be used as a staging ground for the initial invasion of Ukraine a year ago.

Lukashenko has been Belarus’ only president since the position was created in 1994 and crushed 2020 protests over his disputed reelection in a vote that the opposition and Western countries regard as fraudulent.

The visit comes as top US officials repeated warnings to China against providing military aid to Russia in its war on Ukraine, saying that would bring heavy consequences.

CIA Director William Burns repeated those earlier statements in an interview due to be broadcast on American channel CBS on Sunday, saying, “We’re confident that the Chinese leadership is considering the provision of lethal equipment.””

Israeli, Palestinian Officials Meet in Jordan Top Israeli and Palestinian officials are meeting in Jordan Sunday.

The one-day conference in the Red Sea port of Aqaba is being held in an attempt to stave off the recent escalating violence between Israel and the Palestinians.

Scores of Palestinians have been killed this year in clashes with the Israelis.

Meanwhile, Israeli Prime Minister Benjamin Netanyahu’s return to office and Israel’s announcement that it has plans to expand its Jewish settlement building have made for a tense situation in the area.

A meeting like Sunday’s has not been held for some time. “It’s a major achievement,” a Jordanian official told Reuters.

However, several Palestinian groups

Three people died and eight others were injured when a helicopter operated by the African Union peacekeeping mission in Somalia crashed Saturday in the country’s Lower Shabelle region, the mission said in a statement on Sunday.

In the statement, the African Union Transition Mission in Somalia (ATMIS) said the helicopter, carrying eleven passengers, including soldiers from Somalia military, was participating in training drills for casualty evacuation when the crash occurred.

“Regrettably, three of the eleven passengers on board lost their lives. Eight injured officers have been evacuated to Mogadishu for urgent medical attention,” ATMIS said in the statement.

It did not give any details on casualties, including their nationality, but said investigations had begun to determine the cause of the crash.

ATMIS is assisting Somalia’s central government in its war against the Islamist al-Shabab insurgency.

The al-Qaida-allied al-Shabab group has been fighting for over a decade to topple Somalia’s government and establish its own rule based on its strict interpretation of Islamic sharia law.

Pakistan Market Bombing Kills Four Police in southwestern Pakistan said Sunday a bomb blast had ripped through a crowded market, killing at least four people and injuring 16 others.

No group immediately claimed responsibility for the bombing in the remote Barkhan district in Baluchistan province, where insurgent attacks are not uncommon.

Local hospital officials said children were among those injured, describing the condition of several victims as “critical” and fearing the death toll could rise.

The deputy district commissioner, Abdullah Khoso, said a remote-controlled bomb caused the explosion on a parked motorcycle.

According to local TV news channels, several shops were also badly damaged in the ensuing blast.

Provincial Chief Minister Abdul Qudoos Bizenjo condemned the violence as a terrorist act and called the perpetrators “enemies of humanity.” He did not name any group.

“Terrorists are trying to create uncertainty through such attacks to achieve their nefarious designs, but we won’t allow these anti-state elements to succeed,” an official statement quoted Bizenjo as saying. Pakistani Prime Minister Shehbaz Sharif also denounced the deadly bombing in Baluchistan, vowing to bring those behind the bloodshed to justice.

Sunday’s violence comes a day after militants staged a bomb and gun attack on a police vehicle in the province’s Khuzadar district that killed two security forces.

Migrant Bodies Wash Ashore in Italy Italian officials say a wooden boat carrying migrants towards Italy disintegrated before it could reach shore, killing at least 58 people, including a baby.

Authorities say about 80 people survived the ordeal.

Some of the bodies washed ashore Sunday at a seaside resort in the province of Crotone. At least 140 people were aboard the ship, officials said.

“It’s an enormous tragedy,” Crotone Mayor Vincenzo Voce said.

Pope Francis said Sunday, “I pray for each of them, for the missing and the other migrants who survived.”

Francis also said he also was praying for the rescuers “and for those who give welcome” to the migrants.

T H I S D AY ˾ DAY FEBRUARY 27, 2023

IMAGES

19

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

L-R: Charge d’ Affaires, Australian High Commission in Nigeria, Mrs. Leann Johnston, and Founder of a startup, Kano Hub, and winner of the Digital Innovation and Technology for Gender Equality Award, Ms. Aisha Tofa, during the International Women’s Day Award Gala 2023 in Lagos…recently

L-R: Director of BetKing Nigeria, Mr. Uche Okafor; Managing Director, KingMakers, Mr. Gossy Ukanwoke; Captain, KingMakers Team, Mr. Cyril Pinheiro; Head of Legal, BetKing Nigeria, Bade Ayoade; and Head of Below The Line (BTL), Marketing, BetKing Nigeria, Mr. Oludare Kafar, at the BetKing’s fifth-anniversary novelty match in Lagos…recently PHOTO: ETOP UKUTT

International Police Chaplains monitoring the presidential election at Polling Unit 004, Alausa/Oregun Ward in Ikeja, Lagos State…recently

A 75-year-old woman, Mrs. Titi Akinwunmi, being captured with BVAS during the last Saturday’s presidential election at Polling Unit 019, Holy Mary ward, Ifako Ijaiye, Lagos…recently

Electorate of the February 25 presidential election rushing out in large numbers to exercise their civic responsibility at ward 62, Ijesha Bus Stop, Ayobo, Lagos…recently

Voters checking through the voters’ registration lists for their names before proceeding to cast their votes in the February 25 presidential and National Assembly elections in Lagos…recently

L-R: (standing) Former Presidential Aide, Senator Ita-Giwa; wife of Kwara State Governor, Mrs. Folake AbdulRazaq; Head of European Union delegation to Nigeria and ECOWAS, Ambassador Samuela Isopi, and Minister of Women Affairs and Lifetime Achievement Award winner, Dame Pauline Tallen, celebrating with the Executive Director, Inclusive Friends Association and winner of Leadership and Governance Award, Mrs. Grace Alache Jerry (seated), during the International Women’s Day Award Gala 2023 in Lagos…recently

20 T H I S D AY MONDAY FEBRUARY 27, 2023 TR

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& RE A S O

Monday February 27, 2023 Vol 27. No 10180

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opinion@thisdaylive.com

www.thisdaylive.com

SON: 50 YEARS ON

CARL UMEGBORO writes the Standards Organisation of Nigeria has done reasonably well

See page 21

NIGERIANS YEARN FOR NATIONAL REBIRTH

CHIEDU UCHE OKOYE urges INEC to discharge its duties dispassionately

See page 21 EDITORIAL

THE ANTIDOTE TO MALNUTRITION

22

1

Whoever wins the elections should ensure every part of the country has a stake in the government, writes CHIDI ANSELM ODINKALU

AS THE COUNT BEGINS Africa’s largest experiment in electoral democracy is underway as Nigeria counts the votes cast in its presidential and parliamentary elections, which occurred on Saturday, 25 February 2023. It is too soon to say who Nigeria’s next president will be and it may be a few days yet before the Independent National Electoral Commission (INEC) announces the results.

7KH HDUO\ HYLGHQFH DSSHDUV WR FRQÀUP pre-election suggestions that the race will be a close one between Atiku Abubakar of the main opposition, Peoples’ Democratic Party (PDP); Peter Obi of the insurgent Labour Party (LP), and Bola Ahmed Tinubu of the ruling All Progressives Congress (APC), with Rabiu Musa Kwankwaso of the New Nigeria Peoples’ Party (NNPP) in a respectable showing.

The election season has been full of LQFLGHQWV PDQ\ RI ZKLFK ZLOO DͿHFW WKH credibility of whatever the INEC chooses to announce as the results when they do.

Two days before the opening of voting in Africa’s largest elections, the candidates in Nigeria’s presidential elections met in Abuja, the Federal Capital, on 23 February 2023, to sign a “peace accord” promising to eschew violence and hate speech in the ballot and to accept the outcome peacefully.

The accord is the idea of the National Peace Committee, a leadership initiative led by Abdulsalami Abubakar, the former Army General who transitioned Nigeria to civil rule in May 1999.

This was the second of such accords by the candidates in the campaign season preceding the vote. A similar accord signed in September 2022 did not much preclude a campaign season in which reports of intolerance and violence sign-posted a fractured political landscape that very much sums up the toxic legacies of nearly eight years of Muhammadu Buhari’s second misadventure in power.

It was not entirely clear how or why the National Peace Committee divined that two peace accords were needed to police one election. The fact that it considered a second DFFRUG HVVHQWLDO VXJJHVWV WKDW WKH ÀUVW ZDV LQVX΀FLHQW RU LQHͿHFWLYH ,I WKH &RPPLWWHH ERWKHUHG WR UHSRUW RQ ZK\ WKH ÀUVW DFFRUG failed or as to what it did to preclude such an outcome, it did not make such a report public.

All the evidence suggests that the parties and their candidates did not much regard the peace accord. A report issued on the eve of commencement of voting on 24 February 2022 by the Incident Centre for Election Atrocities (ICEA), a civic coalition that tracks election-related violence in Nigeria, compiled in two month period beginning in December 2022 “at least 89 incidents of politically-motivated killings (including of 30 security personnel) and 18 abductions LQFOXGLQJ RI RQH 3ROLFH 2΀FHU 7KHUH ZHUH

at least 13 attacks on political campaign rallies. Within the period, there were at least seven arson attacks on INEC facilities and at least 12 brazen attacks on police, military and para-military facilities.” At least one senior politician was beheaded in Imo State in south-east Nigeria; another was incinerated in the week of the ballot.

Voting itself took place in a context of considerable public anxiety. A re-design of the country’s currency implemented shortly before the election, resulted in what the New York Times described as “chaos DQG VXͿHULQJµ ZKLFK WKUHDWHQHG WR WLS WKH country into mass unrest. Deprived of their loot of cash with which to induce voters or EX\ HOHFWLRQ R΀FLDOV WR VNHZ WKH UHVXOWV State Governors mostly belonging to the ruling All Progressives Congress (APC) claimed to have secured a controversial and unclear temporary order from Nigeria’s Supreme Court to defer implementation of the currency change, adding to the air of uncertainty around the elections.

President Muhammadu Buhari, who had communicated a desire to create a level SOD\LQJ ÀHOG IRU WKH YRWH JDYH KLV VXSSRUW to the Central Bank to see through the implementation of the currency reform, HͿHFWLYHO\ GU\LQJ XS PXFK RI WKH XVXDO ÁRZ of money used to corrupt Nigeria’s elections DQG LQÀQLWHO\ HVFDODWLQJ WKH FRVWV IRU DQ\RQH wishing to buy votes.

9RWLQJ GD\ ZLWQHVVHG VLJQLÀFDQW LQFLGHQWV of violence across the country. In many parts of Lagos and in parts of Rivers State, reports suggested patterns of violence consistent with voter intimidation and suppression. In Lagos, there were rampant reports of attacks on voters in parts not considered friendly to the candidacy of the ruling APC or on polling units considered to have a majority of such voters. Despite these attacks, voters showed remarkable resilience and courage.

In Surulere, Lagos, a young woman attacked and stabbed in the face by thugs suspected to be from the ruling party returned bloodied and bandaged to cast her vote.

Contrary to the repeated assurance of INEC’s leadership, election day appears to have caught the Commission unprepared. ,Q PDQ\ SODFHV WKH ÁDZV ZHUH WRR HYLGHQW shoddy election logistics; confusion over the location of polling units or the allocation of YRWHUV WR XQLWV PLVOHDGLQJ FRQÀJXUDWLRQ RI data into the Bi-Modal Voter Accreditation System (BVAS); misconduct or suspected FROOXVLRQ E\ SROOLQJ R΀FLDOV ZLWK SDUW\ political interested were reported.

Equally contrary to the assurances of the Commission, the BVAS failed or disappointed in many locations. Some KLJK SURÀOH YLFWLPV LQFOXGH WKH *RYHUQRU of Rivers State, Nyesom Wike; and the Director-General of the World Trade Organisation (WTO) and Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala. As a result, in many places around the country, voting continued well into the night or resumed on Sunday, 26 February.

Where voters braved the hurdles erected E\ WKH ,1(& DQG WKH SROOLQJ R΀FLDOV showed up and coaxed performance out of the BVAS machines, in many cases, the results transmission process became hostage to Nigerian arrangements. Long after voting had closed, on Saturday night, the INEC’s results viewing portal had not \HW ORJJHG DQ\ UHVXOWV DQG D VLJQLÀFDQW number of locations reported refusal of SROOLQJ R΀FLDOV WR XSORDG UHVXOW VKHHWV WR the INEC results portal, raising suspicions of results manipulation to the end of achieving coordinated substitution and replacement of results from the polling units with manufactured outcomes that bear no relationship to what occurred at voting.

In many parts of the country, a substantial number of reported anomalies occurred under the watch of security agencies.

In Kano, the Commissioner of Police, Mohammed Yakubu, was asked why the police took no action against what appeared to be a systematic pattern of voting by persons who were manifestly children.

Far from denying it, he stuttered his way WR DQ H[WUDRUGLQDU\ PHD FXOSD FODLPLQJ ´LW LV YHU\ GL΀FXOW WR GHWHUPLQH E\ PHUH appearance who is a minor or not. Most of the ones you are seeing, may be their growth rate might be impaired.”

As the count gets underway, three things already seem very clear. First, Nigerian citizens took this election seriously and their collective belief in the destiny of their country is the biggest single good news in this election.

Second, the assurances of the INEC about competent management of the election were always empty and lacking in credibility.

The citizens deserved better than the INEC served up.

A lawyer and a teacher, Odinkalu can be reached at chidi.odinkalu@tufts.edu

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MONDAY FEBRUARY 27, 2023

CARL UMEGBORO writes the Standards Organisation of Nigeria has done reasonably well

SON: 50 YEARS ON Nigeria’s journey to standardisation 505 car during such inspection. So, because HͿHFWLYHO\ EHJDQ LQ ZLWK WKH of my uniform, we would be allowed to establishment of the Nigerian Standards FRQGXFW LQVSHFWLRQV µ A look at SON today would seem such Organisation (NSO) as a department under the Federal Ministry of Industry. Birthed problems never existed in the organisation, XQGHU 'HFUHH 1R RI 7KH 6WDQGDUGV as it has been structured to handle current Organisation of Nigeria, cap 412 of the Laws and emerging standardization challenges, of the Federal Republic of Nigeria, SON had especially to lead every process that relates FRPPHQFHG RSHUDWLRQV RQ -DQXDU\ to the preparation of standards for products, as Nigeria’s foremost standard regulatory measurements, materials, and processes among others, and their promotion at the body. :LWK LWV IRUHPRVW R΀FH ORFDWHG DW national, regional, and international levels.

SON turned 50 in 2022, a milestone the Onipanu, Lagos, the organisation had only two major departments, including organisation has celebrated even into the The Standards Department and Quality year 2023 with a sequence of activities including the launching of a historical compendium, exhibitions and landmark awards to deserving industry players to highlight the journey of SON from being a directorate to an agency of international repute.

The Director General, SON, Salim Farouk used the occasion of the 50th anniversary to chronicle SON’s evolutionary journey in time. He said, in the last 50 years, SON has collaborated with industries to provide FRQVXPHUV ZLWK SURGXFWV ÀW IRU WKHLU purposes. Going down memory lane, Salim said, “The quest for quality within the LQGXVWU\ OHIW VWDͿ IDFHG ZLWK VWLͿ FKDOOHQJHV including unavailability of utility cars, UXQGRZQ FDUV DQG WUD΀F MDPV WR XQGHUWDNH factory inspections which have been Assurance Department, which included totally upturned with the provisions of the laboratories. It was in this location that conducive work environment, mobility, and the development of standards occurred equipment most especially for the state-ofEHWZHHQ DQG 7KH RUJDQLVDWLRQ WKH DUW ODERUDWRULHV µ In apparent appreciation of the task before was, at the time, saddled with the responsibility to develop, coordinate, and SON, the DG said, “Quality is a journey with come up with a road map for a sustainable QR GHVWLQDWLRQ µ DQG WKHUHIRUH FDOOHG XSRQ quality management framework for the stakeholders in the regulated sector to HͿHFWLYH VWDQGDUGV IRUPXODWLRQ DQG undertake the journey of quality with SON in order to industrialize Nigeria, create jobs enforcement.

Before the early 1990s, enforcement as well as wealth which will in turn reduce activities were primarily focused on local poverty, restiveness and minimize threats to manufacturing companies. It was in the early 1DWLRQDO 6HFXULW\ µ The Minister of State Industry, Trade 1990s that the organisation commenced inspection of imported products. It did this and Investment, Ambassador Mariam by joining the Customs Agency to carry Y. Katagum acknowledged that the out Customs examination. Regardless of organisation is a useful tool in the delivery its weak functional structure at inception, of the ministry’s mandate of facilitating the organisation managed to pull through, trade and the growth of the Nigerian industrial sector. While congratulating leaving traces of positive milestones.

More than 50 years later, the organisation the organisation, Ambassador Katagum has endured a series of changes, including said “in acknowledgment of its consistent name change to Standards Organisation of implementation of reforms aimed at Nigeria (SON) and amendments that have making its services more easily accessible to positioned the organisation to withstand WKH SXEOLF 621 KDV EHHQ UDQNHG ÀUVW LQ WKH DQG IXQFWLRQ HͿHFWLYHO\ GHVSLWH WKH IDVW Ease of Doing Business by the Presidential evolving regulatory challenges and needs of Enabling Business Environment Council the industries they were created to regulate. 3(%(& µ :LWK WKH EHQHÀW RI KLQGVLJKW WKH 621 These changes, which were necessitated by a series of teething challenges faced by DG, Salim has said his vision for the the organisation, have earned SON a place Organisation in the coming years is for it of pride in the class of global regulators of to be the foremost standardisation body in Africa and among the top-ranking globally. note.

Brig. General (rtd) Anthony Etukudo, Salim’s call to action was re-echoed by WKH ÀUVW VXEVWDQWLYH 'LUHFWRU *HQHUDO RI the Minister of Industry, Trade, and SON, relieved some of the memories of Investment, Otunba Adeniyi Adebayo, who the challenging past of SON: “At the time, FRPPHQGHG WKH PDQDJHPHQW DQG VWDͿ WKH R΀FHUV RI 621 ZHUH QRW XS WR 7KLV of SON for playing a vital role in ensuring made dealing with the powerful industries that local goods compete favorably in WKDW ÁRXWHG VWDQGDUGV LQ WKH SDVW GL΀FXOW µ the international market by guaranteeing 5HÁHFWLQJ RQ KRZ WKH\ PDQDJHG WR quality is maintained in production, most navigate some of these problems, Etukudo especially with the African Continental VDLG ´7KH R΀FHV WKDW 621 R΀FLDOV JR Free Trade Area (ACFTA) policy now in full to inspect in the past undermined them swing. simply because they did not go out with Umegboro WKH LQVLJQLD RI R΀FH 6R , ZRXOG SXW RQ P\ LV D SXEOLF DͿDLUV DQDO\VW DQG VRFLDO DGYRFDWH military regalia and drive in my old Peugeot

CHIEDU UCHE OKOYE urges INEC to discharge its duties dispassionately

NIGERIANS YEARN FOR NATIONAL RE-BIRTH Nigeria is at the cusp of political transition. had cast protest votes to make sure that Millions of dispossessed Nigerians, who Nigeria experiences national re-birth.

FKDIH DQG VXͿHU XQGHU WKH ZHLJKW RI Not a few Nigerians want a political excruciating poverty caused by our political renaissance that will lead to a change of leaders’ maladministration, want a change guards at Aso Rock, which will usher for the better. They have seen through the in a transformational government in ruse of the APC-led government, which Nigeria.

LV LQFDSDEOH RI RͿHULQJ XV SXUSRVHIXO Nigerians had spoken. The longmeaningful, and result-oriented leadership. VXͿHULQJ KRL SROORL KDG FDVW WKHLU SURWHVW So they want a change for the better. votes to elect the next president of 7KH SUHVLGHQWLDO HOHFWLRQ RͿHUHG Nigeria, knowing that sovereignty or the WKHP D FKDQFH WR DVVHUW WKHLU ZLOO DQG HͿHFW ultimate power in the country belongs political leadership change in the country. to the people. They can vote out bad Who doesn’t know that the 2023 presidential leaders, and vote in new ones. And our political leaders derive the legitimacy of their government from the people’s acceptance of their government.

That’s why subverting the political will and choice of the people will imperil Nigeria’s political stability and derail her democratic trajectory. So it is incumbent RQ WRS ,1(& R΀FHUV QRW WR VXFFXPE to pressures being mounted on them by unscrupulous political desperadoes regarding manipulating and doctoring the electoral results for pecuniary rewards. But subverting the people’s political will and thwarting Nigeria’s democratic growth will cause political apocalypse in Nigeria.

Nigeria, as it is now, is bedeviled by the divisive factors of religion and election was the conduct of a referendum ethnicity. And in the run-up to the on APC to determine its suitability and presidential election, the campaigns eligibility to continue ruling Nigeria? conducted by the political candidates President Muhammadu Buhari who GHHSHQHG RXU UHOLJLRXV GLͿHUHQFHV won the 2015 presidential election; and and ethnic animosities. Nigerians are reelection in 2019 on the political platform acutely conscious of their ethnic origins; of APC has recorded disastrous outing as and they owe allegiances to their ethnic the president of Nigeria. He couldn’t bring homelands at the expense of their about positive change in Nigeria as he had country, which is Nigeria. The situation promised before he became the president of is caused by the fact that Nigeria is not Nigeria. Based on the indices and metrics yet an organic whole. for judging an economically prosperous and So, as a result, Nigeria’s peace as technologically advanced country, Nigeria well as unity, is fragile. Based on is an underdeveloped country. Is Nigeria this, if bitter disputations about the not technologically backward; and is her presidential election result arise among economy not in tatters? the presidential candidates, it can The fact is, President Buhari has failed cause Nigeria to tip over the precipice. to shore up the economy of Nigeria. Nigeria had fought an internecine and Consequently, our naira has depreciated gratuitous three-year civil war, which in value, which necessitated the APC-led caused the wastage of human lives, government’s implementation of the naira spillage of human blood, and destruction redesign policy. The new naira swap policy of people’s properties. So if Nigeria has caused immense hardship to millions descends into another civil war, it will, of Nigerians as we are experiencing acute certainly, lead to her dismemberment. shortage of the new naira notes.

The greatness of Nigeria, which we all Again, Nigeria has been sucked into a know, lies in her ethnic and linguistic maelstrom of violent killings owing to the diversities.

LQHͿHFWLYHQHVV RI WKH VHFXULW\ DJHQFLHV WR Nigerians are one people, who are perform the cardinal duty of government, united by a common shared colonial which is protection of lives and property. experience. And the peoples of Nigeria While the Boko Haram insurgents, terrorists, had co-existed peacefully long before and the Fulani herdsmen are decimating the the advent of the British imperialists populations of the north, kidnappers are in Nigeria. So let us place our ethnic kidnapping well-heeled Nigerians in the allegiances beneath the national good so south for ransom. And gunmen have run as to make Nigeria great. And if Nigeria amuck in the southeast, killing people to JRHV XS LQ SROLWLFDO FRQÁDJUDWLRQ actualize their political ends.

WKH VSLOORYHU HͿHFWV ZLOO FDXVH WKH Nigeria’s successive political leaders have destabilization of the West Africa subfailed to evolve Nigeria’s technological region. culture, which will make Nigeria have a So I beseech the top members of the productive economy, and not a consumptive national electoral umpire to discharge one. And the infrastructural rot, which WKHLU GXWLHV GLVSDVVLRQDWHO\ 2΀FHUV characterizes Nigeria has continued to of INEC should resist the temptation impede her national development. to do the biddings of corrupt and So millions of Nigerians want a change unscrupulous politicians. for the better. They want to reclaim their country from the jaws of destruction and Chiedu Uche Okoye predatory political leadership, which have writes from Uruowulu-Obosi, Anambra assailed Nigeria and Nigerians. And they State

22 4

T H I S D AY

MONDAY FEBRUARY 27, 2023

EDITORIAL

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

THE ANTIDOTE TO MALNUTRITION Government should do more by addressing the issue of pervasive poverty

U

nless Nigeria leaders take immediate steps to address hunger and malnutrition, especially in children and pregnant women, the poor indices on maternal and child mortality will only further worsen. That is the recent message from the Food and Agriculture Organisation, (FAO) Country Representative in Nigeria, Fred Kafeero, who urged the authorities to recognise that “over four million people JR KXQJU\ DQG VXͿHU IURP PDOQXWULWLRQ LQ WKLV FRXQWU\ µ essentially “because of the challenges associated with FRQÁLFW SHVW DQG GLVHDVHV QDWXUDO GLVDVWHUV ORVV RI ELRGLYHUVLW\ KDELWDW GHVWUXFWLRQ HFRQRPLF FKDOOHQJHV (unemployment) and WKH GHYDVWDWLQJ HͿHFWV RI &29,' VWLOO ZLWK XV µ Sadly, even though malnutrition is the underlying cause for a third of child mortality in the world, it is yet to receive any serious campaign and investment necessary to DGGUHVV LW HͿHFWLYHO\ LQ Nigeria. Nigeria faces the risk of a generation of stunted adults. Stunted growth implies a marked increase in the child’s susceptibility to infections and contributes to child mortality. Invariably, pregnant women who are not adequately nourished eventually give birth to babies with low weight thus putting their survival at risk. The costs of disregarding this issue in human and economic WHUPV FDQQRW EH TXDQWLÀHG According to experts, in low and middle-income countries like Nigeria, the age 3-24 months is a time when growth falters for too many children. An inadequate diet during this period increases the risk of stunting, PLFUR QXWULHQW GHÀFLHQFLHV LOOQHVVHV DQG GHDWK 6RPH RI WKH IDFWRUV LGHQWLÀHG LQFOXGH SRRU LQIDQW IHHGLQJ DQG attitude of mothers to exclusive breastfeeding. Political commitment at all levels is therefore necessary to ensure advocacy on the adverse implications of malnutrition and avoid its devastating consequences.

The FAO has called on the government to make targeted interventions on research in such a manner that will enhance technologically advanced farming.

´,Q DGGLWLRQ RXU DSSURDFK FDQ RQO\ EH HͿHFWLYH LI LW LV tooted in working together with governments, and key partners, as they forge their own national pathways WRZDUGV WUDQVIRUPDWLRQ LQ OLQH ZLWK WKHLU VSHFLÀF FRQGLWLRQV DQG QHHGV µ VDLG .DIHHUR ´)XQFWLRQLQJ IRRG systems will not only assure us of enough and quality food for each of us but also environmental sustainability, which is key for the development of the present and IXWXUH JHQHUDWLRQV µ However, tackling malnutrition is not what government can do alone, other critical stakeholders need to join WKH HͿRUWV 3DUWQHUVKLS ZLWK FLYLO VRFLHW\ DQG DFDGHPLF institutions with focus on food and nutrition is also an imperative while there should be a commitment to establishing a road map and coordinated mechanisms for implementing activities for up-scaling nutrition in the public sphere. This road map should consist of clear roles and responsibilities for the various stakeholders, as well as implementable strategies, with milestones for mainstreaming nutrition into agriculture, fortifying basic foods with essential minerals or vitamins, mobilising communities for action RQ WKH JURZLQJ RI PRUH EHQHÀFLDO IRRGV DQG WKH SHULOV RI malnutrition. )RU HͿHFWLYH KHDOWK DQG VRFLDO SURWHFWLRQ PRWKHUV PXVW also be encouraged to adopt exclusive breastfeeding KDELWV IRU WKHLU EDELHV IRU WKH ÀUVW VL[ PRQWKV 7KHUHDIWHU complementary feeding can be introduced for 24 months, then the consumption of various nutrients such as Vitamin A, iodized salt, and zinc, amongst others. Nigerians, as a minimum, deserve a life free from hunger, in a country blessed with arable land and natural resources.

From all available reports, the antidote to malnutrition is for children to eat healthy and balanced diet that include plenty of fruits and vegetables and other nutrients. Under the prevailing circumstance, government, at all levels, must sit up to address the crushing indices and causes of malnutrition that have continued to deprive over half of our children (and mothers) of a healthy and productive life span.

The antidote to malnutrition is for children to eat healthy and balanced diet that include plenty of fruits and vegetables and other nutrients 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 DISENFRANCHISING ELIGIBLE VOTERS IS CORRUPTION President Muhammadu Buhari in an interview concerning the Naira Re-design Policy in the United Kingdom, after meeting with His Royal Majesty, King Charles III in Buckingham Palace stated that: ‘‘My aim is to make sure that Nigerians believe that we respect them as an administration. So, Nigerians should vote for whoever they like from whichever political party. Nobody will be allowed to mobilize resources and thugs to intimidate people in any constituency. That is what I want to go down in Nigerian history for DV D OHDGHU µ This is a government that came to power with the mantra of ÀJKWLQJ DJDLQVW FRUUXSWLRQ ZLWKRXW NQRZLQJ WKDW HOHFWRUDO IUDXG LV the highest corruption because when a politician realizes that power belongs to the people, he will do everything to please the people.

Section 42 of the Nigerian Constitution, as amended, clearly states that: (1) A citizen of Nigeria of a particular community, ethnic group, place of origin, sex, religion or political opinion shall not, by reason only that he is such a person:(a) be subjected either expressly by, or in the practical application of, any law in force in Nigeria or any executive or administrative action of the government, to disabilities or restrictions to which citizens of Nigeria of other communities, ethnic groups, places of RULJLQ VH[ UHOLJLRQV RU SROLWLFDO RSLQLRQV DUH QRW PDGH VXEMHFW RU

(b) be accorded either expressly by, or in the practical application of, any law in force in Nigeria or any such executive or administrative action, any privilege or advantage that is not accorded to citizens of Nigeria of other communities, ethnic groups, places of origin, sex, religion or political opinions.

(2) No citizen of Nigeria shall be subjected to any disability or deprivation merely by reason of the circumstances of his birth.

With the much touted readiness of our law enforcement agents, I wonder why some eligible voters in some parts of Rivers, Delta ,Lagos States and other parts of the country should be threatened to vote for a particular party and if they were not ready for such a compromise they should leave their polling units. Some eligible voters were even prevented from coming inside their polling units in some places.

This All Progressives Congress-led government has blamed the past administration in virtually all aspects of life except in the election that brought it into power. Although during the 2015 presidential election that ushered in this current regime, there was massive media reportage of under-age voters and other electoral malpractices going on in some parts of the country, President Jonathan ignored that and conceded victory in line with his political belief of ´0\ SROLWLFDO DPELWLRQ LV QRW ZRUWK WKH EORRG RI DQ\ 1LJHULDQ µ

, ÀQG LW DQQR\LQJ ZKHQ D SROLWLFLDQ VD\V ´ZH ZLOO QRW YRWH IRU D SDUWLFXODU FDQGLGDWH ·· 0\ TXHVWLRQ LV ZKR FRQVWLWXWHV WKDW ÀUVW person pronoun ‘we’? The power belongs to the people and no single individual shall dictate for others. If Mr President who has virtually failed to deliver any of his 2015 campaign promises could just ensure that politicians or their cronies do not intimidate voters RU ,1(& VWDͿ LQ WKLV JHQHUDO HOHFWLRQV WKHQ 1LJHULDQV ZLOO UHmember him for that because one thing is to grant a press interview but another thing is to implement it.

Taking a closer look at what this APC government calls anti-corUXSWLRQ ÀJKW RQH ZLOO VHH WKDW LW LV D ÀJKW IRU WKH WRWDO DQQLKLODWLRQ of the opposition parties and for carrying out personal vendetta.

When an APC thug threatens eligible voters in a polling unit, the law enforcements will look the other way but when same thing is done by a thug from the opposition party then live bullets will be used. At our level of existence as a country, can we not have a free and fair election where candidates will test their popularities at the polling units without molesting any eligible voter or snatching ballot boxes? If you claim that you are the most popular candidate in an election, why not allow the people decide?

Dr Paul John, Port Harcourt, Rivers State

T H I S D AY ˾ MONDAY, FEBRUARY 27, 2023

23

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

2 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%

Amidst Macro-economic Challenges, Banks’ Prime Lending Rate Hits 13.67% in January

Kayode Tokede Amid severe macro economic challenges and increase in Monetary Policy Rate (MPR), commercial banks’ prime lending rate to most credit-worthy customers increased to 13.67 per cent in January 2023, a 1.99 per cent Year-on-Year (YoY) increase from 11.68 per cent in January 2022.

According to the Central Bank of Nigeria (CBN) “Money Market

Indicators,” the January figure was a 24-month high and it came on the heels of Monetary Policy Committee (MPC) of the CBN hike in its MPR rate to 17.5 per cent.

Prime lending rate is averaging at 16.57 per cent from January 2006 to January 2023 and it reached its all-time high of 19.66 per cent in November 2009 and a record low of 11.13 per cent in March 2021.

The prime lending is largely determined by the overnight rate

which commercial banks lend one to another. The rate is also important for retail customers, as the rate directly affects the lending rates, which are available for mortgage, small business and personal loans.

Recently, the CBN Governor, Mr. Godwin Emefiele admitted that the hike in MPR would increase cost of borrowing, especially in non-priority sectors of the economy.

Emefiele, however added that

lending to key priority sectors, which had been identified to boost growth and generate employment, would remain at a single-digit interest rate of nine per cent.

He pointed out that the decision to raise interest rate was the last resort and a difficult one for the MPC, which had been crafting policies to stimulate economic growth as well as achieve financial stability.

He said the CBN had adopted

a contractionary monetary policy stance in view of the aggressive rise in inflation in recent times, which had led to high food and commodity prices in the country.

Emefiele noted that CBN’s action was aimed at curbing inflation, on the one hand, and supporting growth of the economy, on the other.

He said the MPC was in a dilemma in arriving at a decision to raise the lending rate.

As a result, the apex bank governor explained, a drastic measure such as raising the benchmark lending rate was required to reduce monetary expansion in order to tame inflation.

Despite the increase in prime lending rate, maximum lending rate dropped by 0.02 per cent YoY to 27.63 per cent in January 2023 from 27.65 per cent in January 2022.

Continued on page 25

PenOp Condemns Passage of Bill for Exemption of National Assembly Personnel from CPS Ebere Nwoji Umbrella body of Pension Fund Operators (PFAs) and Pension Fund Custodians (PFCs), the Pension Operators Association of Nigeria (PenOp), has condemned the bill for an act to amend the Pension Reform Act 2014 to exclude and exempt the National Assembly service from the Contributory Pension Scheme (CPS) and to establish what the law makers tagged National Assembly Service Pension Board and for Related

Matters (HB2025).

The bill, which was recently passed by both chambers of the National Assembly, seeks to exempt the National Assembly Service from the CPS, which has been in practice in Nigeria for the last 18 years.

PenOp in a statement condemning the bill and the manner in which it was passed said, “PenOp wishes to state unequivocally that the passage of this bill sets a dangerous precedent that will not augur well for hardworking Nigerians,

working across the private and public sector, who depend on the Contributory Pension Scheme (CPS) for retirement security and stability.

“The introduction of the CPS in Nigeria marked a departure from the unsustainable pension schemes the country had been operating in the past. This scheme has brought transparency, international best practice and guaranteed peace of mind to millions of pensioners. For these reasons and many more, the need for the above bill is indeed unfathomable and unjustifiable.”

The statement signed by PenOp management led by Mr Oguche Aguda as the Director General said the association particularly, wished to express grave concern regarding the way the bill was passed adding that the passage of the bill seemed to have been unnecessarily expedited and shrouded in secrecy with very little engagement and input from critical stakeholders as it was passed during the National Assembly’s recess.

“Indeed, it is disturbing that this bill did not go through any

public hearing, a key component of the legislative process that allows stakeholders to have their voices and opinions heard for possible inclusion in the process. If this was done, pertinent issues such as the amendment of retirement age, funding of pension liability, and the potential debt burden on government—all of which are affected by this bill—would have been debated and brought to the fore, ”he said.

According to PenOp, the exemption of any agency or group from the CPS holds

grave consequences for Nigeria’s struggling fiscal position and would potentially upend the retirement security of pensioners who had given their blood and sweat in service to our great Nation.

“Hence, we call on all wellmeaning Nigerians to note this grave anomaly and join us in calling on the National Assembly to reconsider its decision as well as enjoin the executive and the judiciary to out rightly condemn this action.

Continued on page 25

M A R K E T D ATA A S AT F R I D AY, F E B R U A R Y 2 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

10.335, 00 10.339, 00 10.129, 00 11.289, 00 10.543, 00

Change Updated Time (%) 11.02 -0.01 January 13, 2023 January 11.71 0.11 13, 2023 January 11.98 -0.01 13, 2023 January 12.24 0.00 13, 2023 January 12.50 0.00 13, 2023

Yield

BILLS MATURITY

Discount

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

1.53

NTB 11May-23

2.70

1.54 1.83 2.43

Change Updated Time (%) January 1.53 0.00 13, 2023 January 0.00 13, 1.54 2023 January 1.84 0.01 13, 2023 2.44 -0.31 January 13, 2023

Yield

2.72

January -0.54 13, 2023

OTC F X F U T U R E S

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

Change Updated Time (%) January 8.08 8.20 -0.24 13, 2023 January 13.12 13.50 -0.33 13, 2023 January 9.52 9.74 -0.39 13, 2023

Discount Yield

.

.

.

. .

.

.

.

. .

CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS JAN 25 469.87 January 1 2023 13, 2023 January NGUS FEB 22 2 472.05 2023 13, 2023 NGUS MAR 29 474.23 January 3 2023 13, 2023 NGUS APR 26 476.42 January 4 2023 13, 2023 NGUS MAY 31 478.60 January 5 2023 13, 2023

24

MONDAY, FEBRUARY 27, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

CPS: COPEHRA Urges FG to Raise Police RSA by 100% to Stem Agitation for Exit James Emejo in Abuja The Contributory Pension and Happy Retirement Advocacy (COPEHRA), has called on the incoming administration to increase the employer contributions for the Nigeria Police Force (NPF) by 100 per cent to ensure their retirement Savings Account (RSA) under the Contributory Pension Scheme (CPS) is robust enough after serving the country.

The group argued that such a move would douse current agitations by the police to exit the pension scheme.

Speaking at a media briefing, Legal Adviser, COPEHRA, Oyiminu Audu, also called on entities that have issues with the CPS to, “look for solutions inside the scheme and not outside” adding that, “How can you leave where there are funds ready for payment and then move to where loans have to be taken before pension payment?”

The non-government organisation (NGO) further tasked the incoming administration to set up machinery for the consideration of a second pension pillar as per World Bank standards, adding that this would increase protection against retirement poverty.

The body also urged all workers in the informal and semi-formal

sectors to take advantage of the Micro Pension plan (MPP), stressing that the initiative had expanded the implementation of the CPS to the informal sectors such as low-income earners, self-employed, SMEs, and artisans.

Audu noted that the contributory pension arrangement still has a long way to go, pointing out that the perception of employees and employers to the scheme, non or late remittance by employers- all reduce the effectiveness of the scheme to generate enough investible funds for the RSA owners.

He said more awareness was needed for both employers and employees.

According to him, there is a need for sensitisation, regular reviews of regulations to adapt to changing times, the enforceability of existing regulation, s and uniform applicability of pension laws and regulations.

He said, “We use this opportunity to urge all aspirants to upcoming elections to bear upon their agenda the need to work towards a more adaptive and inclusive pension administration that is all-inclusive and proactive.”

Setting an agenda for the incoming government, the group said, “One common element of the mandate of all the presidential

candidates is an economic boost.

We are here to emphasize that pension is a major factor in the well-being of any society.

“The importance of sustainable pensions to a country cannot be overstated. Pension guarantees financial security for retired workers who have served the country, and generally boosts the economy. It brings equality and general well-being by ensuring that the weak and vulnerable have ready funds to take care of their day-to-day expenses after retirement from active service to the fatherland.

“Many countries have pensionrelated policies and approach that is country-specific and fits generally within worldwide accepted norms. – This proves the undeniable relevance of a functional and sustainable pension administration “We note that going through the available manifestos of three of the four strong contenders for the presidency, not much was mentioned about pension or retirement.

“However, we take solace from their antecedence that all the frontline contenders made efforts to make laws for the reform of the pension sector when they are in charge of the helm of affairs in their respective jurisdictions.”

FAO Tasks African Leaders on Integrated Water Resources Management Gilbert Ekugbe The Food and Agriculture Organisation (FAO) has charged African Heads of States to invest massively on integrated water-related strategies and policies.

The FAO noted that concrete actions and strong political will are crucial to managing water across sectors in a holistic and efficient way.

It made the call at its first regional workshop in Harare, Zimbabwe, where it enjoined African countries to look at “the big picture” of integrated water resources management to deal with increasing competition and trade-offs between sectors, and increasingly work in partnerships.

The Director-General of FAO, Mr. QU Dongyu, highlighted that agriculture is responsible for 70 per cent of global freshwater withdrawals, and argued that it is crucial to increase water productivity with innovations in the sector being at the forefront.

“More crop per drop,” he explained, adding that it is also necessary to cut greenhouse emissions from agriculture through the sustainable management of soils, to prevent further disruption to the water and climate cycle.

“We clearly need to rethink how we use the water we have in a sustainable and equitable way

– with innovations in agriculture being at the forefront,” he urged.

Dongyu said that national water roadmaps strategies that would help to strengthen water resources management are important tool to address the growing challenges around water and helping to achieve the 2030 Agenda for Sustainable Development.

The FAO’s director general reminded participants that water is one of the world’s most precious resources and it is central to achieving all the SDGs. “Because water is food, and food is water, food is life. Over 95 per cent of the food we eat is produced on land, from soil and water. Yet we are facing severe water challenges: droughts and water scarcity, floods and pollution,” he warned.

Indeed, the climate crisis is increasing the frequency and intensity of droughts and floods, which has an impact on food production.

In Africa, 289 million people, about 21per cent of the population, still suffer from hunger or food insecurity, and more than 300 million in the continent live in areas affected by low and irregular rainfall, resulting in droughts and water scarcity.

“These extremes – of too much or too little water – impact farmers, crop production, livestock, food security, economies and livelihoods,” he

emphasised.

At the high-level opening of the FAO regional workshop, the Minister for Lands, Agriculture, Fisheries, Water and Rural Development of Zimbabwe, Mr. Anxious Jongwe Masuka, representing the President of the Republic of Zimbabwe, Mr. Emmerson Mnangagwa, said that the meeting would provide Africa with a platform for the development of a shared vision and voice at the UN 2023 Water Conference.

“It is my hope that this collective position shall demonstrate a great deal of collegiality, a great deal of unity in our diversity and most importantly, will consider the needs and aspirations of the citizenry of Africa,” he said.

The UN would convene the UN 2023 Water Conference at the UN Headquarters in New York However, from March 22 to 24, 2023, to review the progress made in the UN Water Action Decade. This will provide an opportunity to keep the momentum and raise awareness of water’s role in economies, societies and the environment and to mobilise global-local actions on the water for sustainable development.

To foster collective action at the national level for the development of such roadmaps, FAO is organising regional workshops on the national water roadmaps.

Lottery to Empower Nigerians, Create Employment Opportunities James Emejo in Abuja The Managing Director, National Lottery Nigeria (NLN), Mr. Layi Onafowokan, has said its operations would impact the lives of Nigerians, transform the gaming industry among numerous economic benefits to the country.

Speaking at a media briefing and launch of its USSD code following the official launch of the lottery earlier in the month, he explained that aside from the revenue, which the initiative would generate for the government, the NLN would also create jobs and encourage entrepreneurship through its various initiatives.

Onafowokan, assured that millions of Nigerians will begin to win incredible life-changing prizes with the commencement of operations of its lottery activities.

According to him, the programme would lift Nigerians out of poverty through a range of exciting games playable with as little as N100 as well as help combat unemployment in the country.

Established by the federal government and operated by Systems and Gaming Limited, the NLN promises an exciting gaming experiences including Naija mega jackpot, 6/49, pick 3, and instant win scratch cards among others.

He said a percentage of the proceeds from ticket sales would also be allocated to various charitable causes, helping to make a positive difference in the lives of Nigerians.

Onafowokan, further disclosed that to ensure fairness and transparency in its operations while securing a safe gaming environment for its players, the company had set up an integrity committee to monitor all games.

He added that the committee comprising representatives from the National Lottery Regulatory Commission (NLRC), and other partners would ensure that the lottery is conducted fairly and responsibly.

Benefits of Micro Pension Plan Excite Traders at 44th Kaduna International Trade Fair The National Pension Commission ( P e n C o m ) participated in the recently concluded 44th Kaduna International Trade Fair, organised by the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA) in collaboration with the Kaduna State Government.

The Kaduna State Governor Nasir ElRufai, represented by the Permanent Secretary, Kaduna State Ministry of Business, Innovation and Technology, Dr Yusuf Sale, officially opened the Fair. The Fair provided PenCom the opportunity to PENCOM DG, Aisha Dahir-Umar interact and sensitise members of the Numerous visitors, including Retirement public on its functions, the workings of the Savings Account (RSA) holders, interested Micro Pension Plan (MPP), and how the members of the public and students from Contributory Pension Scheme (CPS) operates various schools, were hosted at the stand. for the benefit of workers and retirees. The PenCom publications, which included MPP targets the informal sector, comprising Frequently Asked Questions (FAQs) on Micro, Small and Medium Enterprises the CPS and MPP, were distributed to (MSMEs), private sector establishments with participants at the Fair. Traders and visitors less than three employees and self-employed who thronged PenCom’s stand were excited persons such as footballers, musicians, actors, to learn about the MPP. painters and even lawyers and architects.

Enrolment into the MPP is simple Section 2(3) of the Pension Reform Act, and flexible. The minimum age for 2014 (PRA 2014) permits employees of registration under the MPP is 18 years. organisations with less than three employees New MPP participants are required to and self-employed persons to participate in undergo registration with any Pension the CPS. Accordingly, PenCom introduced Fund Administrator (PFA) of their choice. the MPP to cover persons in the informal Registration involves opening an RSA by sector. Workers in the informal sector, many completing a registration form. Once the RSA of whom attended the Kaduna Trade Fair, is opened, the Micro Pension Contributor constitute the vast majority of the working (MPC) is issued a Personal Identification population in Nigeria and are not covered by Number (PIN) by the PFA. Self-employed any retirement benefits scheme. Accordingly, persons belonging to a Trade, Profession, MPP refers to an arrangement to provide Cooperative or Business Association; persons pensions to the self-employed and persons with a business name registration, partnership operating in the informal sector. or enterprise; Employees operating in the PenCom showcased the benefits of the informal sector who work with or without MPP as part of its strategy to expand pension formal employment Contract; and Other coverage to the informal sector. The MPP self-employed individuals are eligible to guarantees a secured future through steady participate in the MPP. Such individuals income at retirement, thereby reducing old-age must reside in Nigeria. poverty. During the Fair, officials of PenCom From inception to 31 December 2022, PFAs interacted with participants and educated have registered 89,327 MPCs. Also, 368.03 them on the benefits of the MPP. million has been received as contributions Other benefits of the MPP include the from MPCs from inception to 31 December following: 2022. The MPP membership is rising as r 'MFYJCMF DPOUSJCVUJPO SFNJUUBODF more informal sector participants realise r "DIJFWFNFOU PG FDPOPNJD TUBCJMJUZ the benefits of the Plan. objectives of contributors and financial In conclusion, traders and artisans independence at retirement. at the 44th Kaduna International Trade r 5IF PQUJPO UP XJUIESBX QBSU PG TBWJOHT Fair expressed excitement over the huge (40% of contribution) before retirement. benefits of the MPP under the CPS. PenCom PenCom’s stand at the Trade Fair was highlighted the prospects of the MPP at the operated by staff who provided customer Kaduna Trade Fair. The effective regulation care services and clarified the workings and supervision of the pension industry in of the CPS, with emphasis on the MPP. Nigeria remain PenCom’s priority.

T H I S D AY ˾ MONDAY, FEBRUARY 27, 2023

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BUSINESSWORLD

STATUS REPORT

OPEX, FX Losses Weaken Nigerian Breweries Profit

Kayode Tokede

O

n the backdrop of significant increase in total operating expenses and net loss on foreign exchange transactions, Nigerian Breweries Plc reported 27 per cent decline in profit before tax and grew profit after tax by 4.06 per cent over a decline in tax expenses.

The decline in profit before tax dragged the profit margin to 3.1 per cent in 2022 from 5.4 per cent in 2021,, while the profit after tax margin stood at 2.4 per cent in 2022 from 2.9per cent in 2021.

Nigerian Breweries in its audited financial statement for full year ended December 31, 2022 reported N17.34billion profit before tax from N23.7billion reported in 2021, while profit after tax grew by 4.06 per cent from N12.67billion in 2021 to N13.19billion in 2022.

The group thus recommended to shareholders a total dividend of N13.87 billion, that is, N1.43 kobo per ordinary share of 50 kobo each.

The total dividend is comprised of an interim dividend of N3.28, that is, 40 kobo per share, and a final dividend of N10.58 billion, that is, N1.03 kobo per share.

The group reported an Earning Per Share (EPS) of N1.58 in 2022 from N1.57 in 2021.

The achieved EPS was driven by the sturdy growth in revenue. As the board proposed a final dividend per share of N1.03 in 2022 from N1.20 in 2021, it implies a dividend yield of 2.5per cent based on the last closing price of N41.50 as of February 24, 2022.

The Group 2022 performance was weakened by a significant increase in total operating expenses and Net loss on foreign exchange transactions, over a challenging business environment.

The breweries manufacturing company reported N337.31billion cost of sales in 2022, an increase of 21.8per cent from N276.87billion in 2021 to positioned its

gross profit at N213.33billion in 2022, representing an increase of 33 per cent from N160.41billion reported in 2021.

Gross profit margin expanded by 206basis points to 38.7per cent in 2022 from 36.7 per cent in 2021, as the strong revenue growth outweighed the increases in the cost of sales.

The higher cost in the period was influenced by the highly inflationary environment, devaluation of the naira, and high energy prices.

Total operating expenses elevated to N163.98billion in 2022, an increase of 31.6 per cent from N124.6billion in 2021 with marketingrelated costs accounting for 82.8per cent of the total operating expenses.

The breakdown of total operating expenses revealed a 38.1 per cent increase in selling and distribution expenses to N135.83billion in 2022 from N98.36billion in 2021, while administrative expenses stood at N28.15billion in 2022, representing an increase of 7.3 per cent from N26.24billion reported in 2021.

The persistent increase in operating expenses mainly to the challenging operating environment in Nigeria, and the brewer’s continuous focus on increasing brand visibility.

In addition, the overall operating cost (Cost of sales, Selling and distribution expenses, among others) increased to N501.87billion in 2022 from N400.42billion in 2021.

Nigerian Breweries in 2022 spent aa whopping sum of N246.72billion on raw materials and consumables from N197.82billion in 2021.

Profit from operating activities stood at N51.76billion in 2022 from N41.49billion in 2021.

As net loss on foreign exchange transactions grew significantly to N26.34billion in 2022, an increase of 274per cent from N7.04billion in 2021, it brings net finance charges to N34.42 billion in

2022 from N billion reported in 2021.

Nigerian Breweries exposure from its foreign currency-denominated payables amid a 23.9per cent decline in finance cost.

From the profit & loss figures, the multinational breweries reported N550.64billion revenue in 2022, representing an increase of 25.9per cent from N437.3billon in 2021 Nigerian Breweries growth in revenue was primarily driven by strong pricing to mitigate inflation and brand mix improvements.

The performance was also supported by a strong performance of the premium portfolio, led by Tiger and Desperados, and the continued momentum of Heineken, while the low and non-alcoholic portfolios remained broadly stable.

According to the management, the total volume in the period weakened, reflective of the pressure on consumer disposable income amid supply chain challenges.

RAISING DEBT-TO-EQUITY RATIO

Nigerian Breweries reported a significant increase in its liabilities that impacted on debt-to-equity ratio last year. Debt-to-equity ratio moved to 2.45x in 2022 from 1.82x in 2021, following an increase in total liabilities.

The group’s total liabilities stood at N439.97billion in 2022 from N313.61billion in 2021 influenced

by N119.8billion long term loans and borrowings in 2022 as against N23.8billion reported in 2021.

Consequently, the total liabilities to total assets increased to 94.7per cent in 2022 from 85.84per cent in 2021.

Nigerian Breweries, thus, reported N179.9billion total equity in 2022, representing an increase of 4.65 per cent from N171.9billion in 2021.

From the Group’s balance sheet position, total

assets closed 2022 at N619.89 billion, an increase of 28per cent from N485.22 billion in 2021.

Current assets moved to N155.42billion in 2022, representing an increase of 29.3 per cent from N120.17billion in 2021, while Non-current assets stood at N464.5billion in 2022 from N365.4billion reported in 2021.

REMARKS

The Company Secretary, Nigerian Breweries, Uaboi Agbebaku, in a statement said the growth in revenue was driven by brand mix improvements and strong pricing.

According to him, “The total market decreased by high single-digit reflecting pressure on consumer disposable income as well as naira devaluation and inflation. Nevertheless, we outperformed the market led by our strong premium portfolio.

“Cost of Sales, Marketing, and Distribution expenses were under pressure due mainly to inflation, devaluation of the naira and high energy prices.

“While the operating margin was flat, our Profit after tax margin was reduced driven mainly by the increase in foreign exchange losses due to the naira devaluation and foreign currency scarcity.”

Analysts at Cordros Research in a report stated that Nigerian Breweries continues to drive profitability with its pricing and premiumisation strategies, amid the pressure on margins, especially in the fourth quarter (Q4) 2022, underpinned by lower disposable income, high input costs, and naira devaluation.

“Going forward, we expect NB’s profitability to remain satisfactory in 2023E, supported by solid revenue growth.

“However, we highlight that weak macroeconomic fundamentals, depressed consumer wallets, and elevated operating cost remains significant headwinds to volume growth and profitability. Our estimates are under review.”

AMIDST MACRO-ECONOMIC CHALLENGES, BANKS’ PRIME LENDING RATE HITS 13.67% IN JANUARY Maximum lending rate refers to the rate charged by banks for lending to customers with low credit rating.

According to THISDAY investigation, United Bank for Africa Plc as of January 27, 2023 has the highest prime lending in the general commerce sector, followed by Unity Bank Plc. At 42 per cent, FCMB and Stanbic IBTC Bank in the period under review had highest maximum lending rate in the general commerce sector, followed

by Keystone Bank Limited (36 per cent) and Heritage Bank (35 per

cent).

The money market indicators revealed that Savings deposit increased to 4.29 per cent as of January 2023 from 1.25 per cent in January 2022.

The disparity between maximum lending and deposit rates have widened over the years particularly since 2009 topping a differential of about 10 per cent in most instances.

In Nigeria, large corporates perceived as having lesser risk with a history of generating consistent cash flows are offered prime lending rates, while small businesses and individuals

perceived as having higher risk typically fall above the prime lending rate margin.

Analysts have attributed the increase in lending to the hike in MPR and severe macro economic challenges.

Speaking with THISDAY, the Head, Financial Institutions Ratings at Agusto & Co, Mr. Ayokunle Olubunmi, said the gradual increase in MPR impacted on average maximum lending rate since 2022.

He noted that the increase, of course, would affect businesses and probably reduced borrowing

rate in the banking sector.

He said, “For businesses that have taken loans, they will be paying more interest rate on these loans and it will affect their profitability. Also, any businesses or individuals that wanted to borrow money now will think twice amid hike in interest rate.”

He added that, “The hike in MPR by CBN is a contractionary monetary policy. The move is to reduce the number of people that will take new loans and it will reduce the amount of money in circulation which is expected to reduce inflation.”

On his part, the Vice president, Highcap Securities Limited, Mr. David Adnori said the gap between the CBN’s lending rate and the maximum lending calls for concern in the banking industry.

According to Adnori, “The gap between the MPR and average maximum lending rate is almost doubled and it indicates a serious rant-seeking within the industry.

The spread between the average maximum lending rate and MPR should not be more than 10 per cent and it means there is a serious rent-seeking activity in the banking sector that is eroding business

activities.”

Speaking, the President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka attributed the increase in average maximum lending rate to uncertainty surrounding and inflation rate in the business environment amid political tension.

Ogubunka said Nigeria’s economy in 2022 has not witnessed major improvement to warrant a hike in banking lending rate to the real sector, stressing that the hike in prime lending is expected to impact increase cost of doing business in the country.

PENOP CONDEMNS PASSAGE OF BILL FOR EXEMPTION OF NATIONAL ASSEMBLY PERSONNEL FROM CPS “More specifically, we call on the National Economic Council, the Minister of Finance, Budget & National Planning, the Secretary to the Government of the Federation and all relevant government stakeholders to look into this anti-people bill and ensure that it is not signed into law. Finally, should this bill proceed to Mr. President, we call on him to kindly refuse to

assent to this bill in the interest of the people, the sustainability of the Nation’s pension system and the flawed procedure in which this bill went through, ”PenOp stated.

The Pension Reform Act 2014 exempted only existing pensioners, employees who have three years or less to retire before the enactment of PRA2004 amended in 2014

and the categories of persons covered by the provisions of section 291 of the Constitution of Federal Republic of Nigeria 1999 which did not include National Assembly personnel.

The section in part states concerning these categories of persons, “Any person who has held office as a judicial officer -for a period of not less than fifteen

years shall, if he retires at or after the age of sixty-five years in the case of the Chief Justice of Nigeria, a Justice of the Supreme Court, the President of the court of Appeal or a Justice of the Court of Appeal or at or after the age of sixty years in any other case, be entitled to pension for life at a rate equivalent to his last annual salary and all his allowances in

addition to any other retirement benefits to which he may be entitled for a period of less than fifteen years shall, if he retires at or after the age of sixty-five years or sixty years, as the case may be, be entitled to pension for life at a rate as in paragraph (a) of this subsection pro rata the number of years he served as a judicial officer in relation to the

period of fifteen years, and all his allowances in addition to other retirement benefits to which he may be entitled under his terms and conditions of service; and in any case, shall be entitled to such pension and other retirement benefits as may be regulated by an Act o the National Assembly or by a Law of a House of Assembly of a State.”

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MONDAY, FEBRUARY 27, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R: Head, Corporate Strategy and Investor Relations, Wema Bank, Femi Akinfolarin; Head SME Banking, Arthur Nkemeh; Chief Financial Officer, Tunde Mabawonku; Special Adviser to the Enugu State Governor on SME Development & Investment Promotion and DG of the Enugu SME Agency, Arinze Chilo-Offiah; Head, Branch Services Co-ordination, Wema Bank Oluwole Esomojumi at the two-day SME capacity building organized by Wema Bank in partnership with the Enugu State Government for SME businesses, in Enugu… recently

FG Seeks to Harness $158.35bn Charcoal, Processed Wood Market

James Emejo in Abuja

The federal government has lifted the ban on the export of charcoal and processed wood in a bid to revamp the sub-sector.

The conditional lifting of the ban particularly affects those who convert waste to wealth and thereby increase the country’s foreign exchange earnings.

The policy change was disclosed by the Minister of Environment, Mr. Mohammed Abdullahi at a stakeholders’ consultative meeting on the review of the ban on charcoal and suspension of processed wood and other allied products.

Speaking at the meeting, Executive Director/Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak commended the government for lifting the suspension on the export of both commodities and warned exporters to play by the rule if they intended to maximize the opportunities presented with the recent development.

He said the council remained

ready and willing to support Nigerians who wish to export the products by providing seamless trade facilitation.

According to him, United Arab Emirates (UAE), Lebanon, Jordan, Saudi Arabia, and Poland remained destination markets for Nigeria’s charcoal export.

Processed wood and charcoal are worth $ 152.94 billion and $ 5.41 billion respectively for 2023.

Abdullahi, however, said, “The Ministry has observed that many businesses have been unintentionally affected especially those converting waste to wealth for export by the ban.

“As a responsible government, we would not be rigid in our policies, and will always listen to citizens on how these policies affect them”.

He said the government had considered the submissions of stakeholders at previous meetings on the need to revisit the decision taken in 2018 and 2020 respectively in the interest of the country.

In a statement issued by Head, Corporate Communications

NEPC, Ndubueze Okeke, the minister said, “After careful deliberations, I hereby pronounce the conditional lifting of ban/ suspension on the export of charcoal

and processed wood respectively.”

He said the government’s policy direction presented an opportunity for private sectors and individuals to massively invest in plantation

establishment for future utilisation.

Abdullahi, however, cautioned operators in the industry to adhere to the Nigeria timber legality standards and guidelines for

wood and charcoal export to avoid prosecution as the decision to lift the ban could be revisited by failure to comply with the laid down rules and regulations.

Eskimi Trains Digital Marketers, Others f or M aximum Campaig n Success Emma Okonji Eskimi, a leading programmatic and data platform, last week, trained advertising agencies, brands, digital marketing professionals and enthusiasts across Nigeria, on trends and ways to harness creatives to achieve advertising targets.

The workshop tagged ‘Eskimi

Pancake and Programmatic Series’, held in Lagos with the theme: ‘Harnessing Creatives for Maximum Campaign Success’.

The workshop featured two notable speakers who shared their expertise on the topic of creatives in advertising.

Creative Director at Noah’s Ark Communications, Maurice Ugwonoh, led the session titled:

‘Mastering the Art of Creatives - Ideation to Execution’.

He presented several case studies to demonstrate the process of developing compelling creatives and the best practices for executing them.

Digital Account Manager at Eskimi WECA, Tayo Adediwura, took the second session titled: ‘Harnessing Creatives for

Maximum Campaign Success’, where he shared insights on the different creative formats and how to drive the best results for each of them.

Tayo also highlighted the role of data in creating effective campaigns and how to leverage programmatic advertising to achieve campaign goals.

MDXi Appolonia Gets TCCF, Nigeria Reemoved Leads Data Centres in Ghana Emma Okonji

from IBF Unsafe Waters List Following improved global ratings of Security in Nigerian maritime domain as a result of sustained collaborative efforts of the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Navy, Nigeria has been removed from the list of countries designated as risk maritime nations by the International Bargaining Forum, (IBF).

The IBF, which is a body that brings together the International Transport Federation, ITF, and the international maritime employers that make up the Joint Negotiating Group, JNG, listed 5 designated risk areas and applicable benefits in the event of attacks leading to deaths and disability, mentioning the Gulf of Guinea as second extended war risk zone covering Liberia/Ivory Coast border to 00°N 005°E, to the Angola/ Namibia border.

The Director General of NIMASA Dr Bashir Jamoh, while reacting to the IBF report described it as a landmark achievement under the Administration of President Muhammadu Buhari, GCFR. “This achievement is a

product of a well-structured multimodal policy which has been implemented over the years to fight piracy and other criminalities in Nigerian Waters. The Legal instrument called SPOMO Act signed into Law by President Buhari in 2019, the full implementation of the Deep Blue Project by NIMASA, expanded assets and capacity of the Nigerian Navy, enhanced cooperation between NIMASA and the Nigerian Navy, and the regional collaborative efforts under the umbrella of SHADE Gulf of Guinea midwifed by NIMASA, are all policies of the current administration and the benefits are gradually coming to fruition.

We are focused on ultimately improving and reducing the cost of commercial shipping in Nigeria”. He said.

Notable maritime institutions like the International Maritime Bureau, IMB, and the International Maritime Organisation (IMO), have lauded the reduction in piracy in Nigeria following enhanced patrol and relevant Memorandum of Understanding (MoU) entered by NIMASA with other security agencies.

MDXi Appolonia, the data centre subsidiary of MainOne, an Equinix company in Ghana, has just received its Tier III Constructed Facility certification (TCCF) from the Uptime Institute.

With this new milestone, MDXi Appolonia becomes the leading data centre provider in Ghana with the top four certifications in the industry; the Tier III Constructed Facility certification, TCCF; the PCI-

DSS certification which certifies the data centre to process payment card information; ISO 27001 and ISO 9001 certifications which assures information security and quality management at the MDXi Appolonia Data Centre, and further reinforces MDXi’s position as the leading data center provider in West Africa.

The MDXi Appolonia facility received the TCCF following onsite testing by the Uptime team and is a progression from the Tier

Certification of Design Documents (TCCD) that was issued by uptime following the review of designs of the facility during construction.

Country Manager, MainOne Ghana, Emmanuel Kwarteng, said: “MDXi Appolonia Data Centre receiving this certification just a year after its launch, provides assurance of the quality of the data center infrastructure and ability to manage disruptions even under unprecedented circumstances.”

The data centre, which features

private data centre suites, enterprise-grade 24×7 multi-level security and video surveillance, precision cooling, safety and fire suppression systems with multiple redundancies built into the power, cooling and security infrastructure, has maintained 100 per cent uptime since launch, and is managed by highly trained, best-in-class engineers operating from a state-of-the-art Operations Center matching international standards.

LASG, FAO Partner to Develop Nigeria’s Coconut Value Chain Gilbert Ekugbe The Lagos State Government has announced its partnership with the Food and Agriculture Organisation (FAO) that would drive Nigeria’s coconut value chain.

Lagos State is the leader in coconut production and is responsible for about 70 per cent of national output.

The Lagos State Commissioner for Agriculture, Ms. Abisola Olusanya, at a live television broadcast, stated that the move is in line with the state’s five-year agric roadmap (2021-2025) that is meant to ensure food security and sufficiency.

According to her, the FAO is very heavy on technical expertise, capacity building and support.

Olusanya pointed out that coconut could be a major Gross Domestic Product (GDP) revenue enhancer for Lagos State and the entire country.

She said: “If you look at countries like Malaysia and India, coconut is actually one crop that gives them a lot of money. Unfortunately, in Nigeria, we do not give it the attention it deserves on the continent. When it comes to anything related to agriculture, particularly in Lagos, we tend to look at it as something for the illiterates, but agriculture is actually the backbone of most

of the first world countries in the world.

“Technical and capacity building is vital to address most of the risks associated with agriculture investments and this is where the partnership with FAO comes in and that is what they are actually helping us with the coconut belt.”

She stated that Lagos has 183 kilometres coastline that is supposed to be covered with coconuts, but has been hampered due to massive erosion and climate change.

“We have continued to see a decline in cocoa production and that is why we see lots of import coming from neighbouring

countries. But with the FAO ensuring that the requirements to develop the coconut value chain and the coconut belt are properly in place, they have been able to help us with assessment and dovetailed into our five year road map to do a proper dissection in terms of the investment required and attracting investors into the space,” she stressed.

The commissioner also stated that the critical role of the private sector in agriculture development. She said that the state is aggressively pushing for a Public Private Partnership (PPP) that would drive the agriculture value chain in the state.

MONDAY FEBRUARY 27, 2023 • T H I S D AY

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T H I S D AY • MONDAY, FEBRUARY 27, 2023

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This Week In Tech 08097710984

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Ogundare: Small Businesses Should Leverage Collaborative Technology in Workplace The Country Lead of Zoho Corporation, Kehinde Ogundare, speaks about the company’s new platform and the need for technology collaborations to improve productivity and offer businesses easier communication channels. Nosa Alekhuogie presents the excerpts Since the unveiling of Zoho’s unified communications platform, Trident, how have the small and medium businesses adopted it, and what’s the feedback? e have had 106 per cent growth in our revenue from Zoho workplace in the last one year.

We have had 68 per cent user adoption, and migration from other applications has doubled in the last couple of years. I have onboarded many people and businesses to Zoho workplace because people are trying to cut cost and, at the same time, want to get value. So, when we built this world-class product, we didn’t compromise on the value of the things you want to get from us. The adoption has been quite impressive, and we hope for more in the next couple of months and years.

This innovation will be extremely advantageous for small and medium businesses in Nigeria that plan to scale up by adopting technology.

growing Zoho trident to being a unified platform for communication and emailing, customers tend to see the efforts of the company. I believe that when you have tried it then acceptability automatically brings about adoption as it is a very friendly app to use.

There is also the need for SMBs to leverage collaborative technology in the workplace. A lot of people have told me that Zoho’s mail interface is the best as it gives the opportunity to streamline emails and automate a lot of things on there as well. There are also a lot of features we did not compromise on and gave our customers value.

W

What are the trends affecting SMBs in Nigeria regarding innovation in technology?

SMBs often feel compelled to use expensive, big-name technologies, leading to unnecessary costs and improper implementation. It is important for them to evaluate their technology needs, choose affordable solutions, collaborate with professionals for proper implementation, and achieve desired outcomes from technology investments.

How is the team handling customer support, and what pricing options are available?

I find this particularly interesting because, for every great product, a support team must be in place. Things cannot go smoothly without these in place. Our customers need help from time to time. They need options and require assistance with how to navigate the system and the likes.

I currently have a support team in the Nigerian office, and also, from the application itself, customers can chat with the support department regarding any complaints or make calls for support anytime they are stuck with anything on the platform. Regarding pricing, what you see is what you pay for. We have two models of pricing, which are monthly and yearly pricing. You can choose to go for either of the two, and you are not restricted by how you want to pay for the two.

Zoom and Teams are your biggest competition. What are you doing differently?

We are investing a lot of resources in research and development and our customer focus. When we are trying to create software on Zoho products, we try to see how people will adopt it and have a unified experience at the same time. We bring a lot of things that are unique to do your business all in one place. Customers

O gu n d ar e

can see the effort from us that we are trying to give them world-class products and not compromising on the value they are getting from us even though it is affordable. It is also very good to get testimonials from people, and a lot of customers have given us credit for how easy Zoho is and recently, someone on Twitter called our product cheap and cheerful.

In this present economy, if someone refers to your product as cheerful, that means they are getting benefits and value for the money they are paying to use the software. We received a lot of testimonials from customers as well. I’ll say that is one of the things driving the adoption of the system in the country currently.

Should one be worried about security vulnerabilities when downloading the app?

One of our core foundations in Zoho is security and privacy, which we take very seriously. We are at an age where data is like gold, and people’s businesses are at stake. Currently, when you are using our app, third-party tracking is not allowed, as we are not trying to get money from anybody trying to track or post advertisements.

You will never use the Zoho app and get any pop-ups of any ads of any sort. We have covered all the basis for a potential attack and have set up various structures to handle the security issues that likely occur.

How many participants can your platform accommodate in videoconferencing or a meeting?

This is dependent on the type of editions you are subscribed to on Zoho.

We have various editions, and that will give you a limit to the number of people that can join at once on Zoho meetings and webinars. Currently, it is only available on Mac OS and window devices. It is a desktop application that you can download to give you the unified experience of being able to work with it.

Can you give us an overview of the attraction of Zoho in other markets compared to the Nigerian market?

I can confidently say we have global reports that show that adoption across the world is impressive. It has actually doubled. We have got about 30 per cent global revenue growth year-on-year.

We have also seen migration from google and microsoft double over the years as well. The Zoho workplace is the fastest-growing product on the platform.

Beyond competitive pricing, with the Zoho workplace doing great in the market, what are the other advantages of the app for SMBs? I’ll say Zoho is an experience.

When building the app, we tried to understand what people and the market needed. Looking at the initiative of

What challenges have you faced in the Nigerian market?

In terms of SMEs, I wouldn’t say we have had a lot of challenges because businesses have realised there is a need to digitalise the way they do their business. We have got a lot of companies trying to digitalise the way they do their business. We’ve got a lot of them trying to digitalise their financing, accounting, bookkeeping, and workspace. People are now trying to adapt to a new way of doing business.

The only challenge might be that people do not really know what type of tool to use in how to address these issues, but then, we have a local team present in Nigeria that can help people get in line in regards to what they are trying to do, their processes and what it will be like to optimise.

I see them as catalysts for the adoption of new technology in the country and not a challenge.

Zoho has over 55+ apps. What Zoho apps are the specific focus for the Nigerian market?

We offer a suite of business solutions that includes Zoho Workplace and Zoho CRM, two top-performing products in Nigeria. We have also witnessed a surge in the adoption of Zoho Books, our finance application. These tools empower businesses to enhance collaboration, manage customer relationships, and streamline their financial operations. Our solutions are customisable to meet the unique needs of each client.

What privacy modules have been integrated into Zoho Workplace that protect users’ data?

We prioritise user and data privacy, and our latest offering, Trident, includes MDM and Secure Pass to restrict file download, copying, and printing. It also requires a One Time Password (OTP) for file access, providing comprehensive security for our clients’ data.

How much Artificial Intelligence has been integrated into the new unified communications platform, Trident?

We have released Bluepencil by Zoho Writer, an AI writing assistant available with our latest offering, Trident. It provides real-time feedback on grammar, spelling, and more to enhance content creation.

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T H I S D AY ˾ MONDAY, FEBRUARY 27, 2023

HOMES&DESIGN Ebony Life Place As an All-inclusive Green Facility

Ebony Life Place, also known as The White Orchid House, is an upper-scale mixed-use all-inclusive facility in a prime location in Victoria Island, Lagos. It is built with an eye on green living. Bennett Oghifo writes

E

bony Life Place, also known as The White Orchid House, is an entertainment and leisure centre on Adetokunbo Ademola Street in Victoria Island, Lagos.

It is the latest addition to the trend that has seen development interest shift from standard retail or office facilities towards leisure and experiential centres, according

to Estate Intel, a data platform that provides insights for data-driven investments, prospecting, and real estate transaction decisions.

The design concept inspiration is drawn from the green environment starting from the leafy shape of the curtain wall, coupled with the intentional use of green-tinted glass

and the use of wood grain imprinted Aluminum composite panels. The developers also plan to lace the interiors of the hotel and entertainment building with African elements applied in a Scandinavian-themed style.

White Orchid House Limited developed the property with Consultants Collaborative Partnership

and Charvet Construction as the architect and main contractor, respectively. Active site work commenced in 2018 and was completed in Q4 2019.

The pace has been relatively rapid.

According to the architect, it will offer five luxury cinema screens, 20 key boutique hotels, restaurants, bars and lounges, a swimming pool, multipurpose hall.

30

MONDAY, FEBRUARY 27, 2023 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

Nigeria’s Economy and Urgency for Reforms Nigeria’s next president who is expected to be announced in a matter of hours - or days, if the elections goes into a run-off, will have to embark on a number of critical reforms when he assumes office in May, 2023, in order to reset the struggling economy, writes Obinna Chima

I

n the next few hours or days, the Independent National Electoral Commission (INEC) would be expected to announce the winner of Nigeria’s 2023 presidential election that began last Saturday. The next president would assume office on May 29th, 2023. Indeed, one issue that he would be confronted with is how to fix the Nigerian economy, which has been underperforming for the past few years.

Presently, the top four presidential candidates are Bola Tinubu of the All Progressives Congress (APC), Peter Obi of the Labour Party (LP), Atiku Abubakar of the Peoples Democratic Party (PDP) and Rabiu Kwankwaso of the New Nigeria Peoples Party (NNPP).

Nigeria’s annual Gross Domestic Product (GDP) growth rate slowed to 3.10 per cent in 2022, compared to 3.40 per cent in 2021, latest data released by the National Bureau of Statistics (NBS) last week revealed.

However, the economy grew by 3.52 per cent (yearon-year) in real terms in the fourth quarter of 2022 (Q4 2022), compared to 2.25 per cent in the preceding quarter, the NBS stated.

According to the GDP Report for Q4 2022, which was posted on the NBS website, aggregate GDP stood at N56.76 trillion compared to N49.28 trillion in Q4 2021, indicating a year-on-year nominal growth of 15.18 per cent. Real GDP stood at N21.04 trillion in Q4 2022.

The economy was largely driven by the non-oil sector which accounted for 95.66 per cent of growth while the oil sector contributed 4.34 per cent.

The average daily oil production increased to 1.34 million barrels per day (mbpd), in the quarter under review, compared to 1.20 mbpd in the preceding quarter but lower than the 1.50mbpd recorded in the same quarter of 2021. According to the statistical agency, GDP performance in Q4 was driven mainly by the services sector which contributed 56.27 per cent to growth.

Agriculture contributed 24.90 per cent to nominal GDP in Q4, but lower than 27.55 per cent recorded in the preceding quarter. Overall, in real terms, the sector contributed 24.05 per cent in 2022.

The NBS pointed out that agriculture was significantly hampered by severe incidences of flood, experienced across the country, accounting for lesser growth, relative to the fourth quarter of 2021 which was 3.58 per cent.

The sector thus recorded -0.94 per cent growth and contributed less to the aggregate GDP, relative to the third quarter of 2022 and the fourth quarter of 2021. Manufacturing contributed 8.40 per cent to real GDP, lower than 8.59 per cent in Q3 and 8.46 per cent in the corresponding quarter.

Trade’s contribution to nominal GDP stood at 13.20 per cent in Q4, higher than 12.45 per cent in the preceding quarter.

Furthermore, the information and communication sector contributed 16.22 per cent to growth in Q4, higher than 15.35 per cent in the preceding quarter and 15.21 per cent in Q4 2021. The sector contributed 16.51 per cent to GDP in 2022, higher than the 15.51 per cent reported last year.

In addition, the country’s is also faced with other socio-economic problem such as dwindling oil revenue, high number of out-of-school children, energy poverty, exchange rate volatility, inequality and poverty, which inhibit the realisation of basic human rights such as education and health care, which are indispensable for sustainable development.

Regrettable, despite the President Muhammadu Buhari-led administration’s target of lifting 100 million Nigerians out of poverty over the next 10 years, no fewer than 133 million Nigerians, representing 63 per cent of the population are currently living in multi-dimensional poverty. Of the total, 105.98 million poor Nigerians are located in rural areas compared to 16.97 million in urban areas. According to the Nigeria Multidimensional Poverty Index (MPI) 2022 Survey, there are high deprivations in sanitation, time to healthcare, food insecurity, and housing.

Also, poor people were said to experience over one-quarter of all possible deprivations. Moreover, both the incidence and intensity of poverty at 62.9 per cent and 40.9 per cent respectively exceeded the 26 per cent poverty cut-off threshold. The report stated that over half of the 200 million population who are multi-dimensionally poor, cook with dung, wood, or charcoal, rather than clean energy.

To the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, President Muhammadu Buhari’s administration has laid good foundational work for the incoming administration to build on and deliver good governance and prosperity to Nigerian.

Ahmed also disclosed that one major thing that keeps her awake at night was how to source revenue to implement crucial programmes of the government,

Tinubu

Obi adding that a lot of Nigerians do not think that there is anything wrong about not paying their taxes.

The minister said: “It is always good to remember that Buhari’s administration has gone through several crises and still managed to keep the economy growing.

“Just on Wednesday, we released our most current GDP report and the economy has grown at 3.52 per cent. So it’s been very difficult. It’s not the best of times. We have had the worst that could have happened thrown at us during this administration.

“Despite that, we’ve seen growth and we’ve also seen an increase in infrastructure and also an expansion of social programmes that impacted the lives of people as well as expansion of investments in education, health, as well as in social investment that is meant to address the most vulnerable segments of our society.”

She added: “On the issue of tax, it is still low compared to our GDP, but the absolute number on the taxes collected is increasing at a rapid rate. For example, in 2021, the total collection of tax was N6 trillion, in 2022, that moved to N10 trillion.

“But again, as has been mentioned on the fiscal side, that there’s a lot that we need to do to reduce the costs of governance because our expenditure is growing faster than the revenues by almost twofold on an annual basis.”

Ahmed also harped on the need to rebuild the social contract between the citizens and the government on a constant basis because the world itself is dynamic, adding that the Buhari administration, “has started what whichever government that comes in will continue with and we hope it is the same ruling party, so it becomes easier.”

She, however, noted that “revenue shortfalls keep me awake because you need finances to fund salaries, pensions, elections and infrastructure.

And we have a massive census also coming up in April. So, in 2023, we have huge expenditures spending in one year, and it keeps me awake at night.

“A lot of Nigerians do not think that there is something wrong in not paying their taxes.

Before, we had responsible citizens that paid taxes. But since we discovered oil and moved toward a rent state, the culture of tax payment just dissipated into the air. But it doesn’t add up and doesn’t work that way. Every citizen has to be responsible.”

To a former Deputy Governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, the rate of diversification of the Nigerian economy has not taken place in a manner necessary for rent-seeking to stop.

He argued: “What Nigeria needs is foreign exchange diversification. We need an export-led

Atiku economy that is driven by complex value added growth across a number of areas to create an inclusive economy.”

He said the next government must work on the fundamental things holding Nigeria back from achieving prosperity for its 200 million citizens.

Moghalu said Nigeria’s economic crises lies at its constitutional structure that makes the central government extremely attractive.

He said: “There are two things the new government that is coming in must do. First, we must increase the supply of our oxygen. And that implies that we must deal with the fiscal crises.

That is basic. We must increase our revenue. The second thing is that the next government must address the waste and corruption in governance by bringing in very competent professionals to manage the economy and stop corruption.

“The challenge of the next government is the ability of its leadership to put the right things in place to stop the vested interests and put the people first. And to be very transparent about policies and ensure that critical institutions like the central bank and the judiciary do not become political balls.”

Analysts also stressed the need for the next president of Nigeria to take direct ownership and leadership of the power sector, adding that, in the area of transmission infrastructure enhancement, the president must mandate the key players and have one responsible individual – be it the Minister of Power, preferably, or if required, consider the option of Presidential Taskforce on Power, as was the case under Prof. Barth Nnaji, some years ago.

According to the Chief Executive Officer of Proton Energy, Mr. Oti Ikomi, “We would need to have a single accountable individual who reports and takes directive from the president and the president must take ownership. That is very key.

The president must take direct ownership and it is not just titular ownership, but technical, administrative and supervisory ownership, requiring perhaps, a meeting every week.”

He added, “We were informed recently that in the Egyptian example, Abdel Fattah El-Sisi, President of Egypt, used to have meeting every week with the key power operators to track progress. That showed seriousness and so, the transmission infrastructure was addressed. Siemens is willing to work with Nigeria, but we also must be willing to accelerate things.

“There has just been a total unnecessary slowdown. A project that should have been completed in one year is taking four years. — so that is for transmission.”

Founding Partner, Healthcare Capital Africa, Dr. Ola Orekunrin Brown, expressed concern that Nigeria is spending so much on petrol subsidy at the expense of two major pillars of development that are health and education.

On his part, the Director-General of the West African Institute for Financial and Economic Management (WAIFEM), Dr. Baba Musa, pointed out that one of Nigeria’s biggest challenges had always been its huge debt service costs.

He noted that the interest rate the federal government pays on its domestic debts was twice as much as what it pays on external debt and that they were short-dated instruments.

Musa stressed the need for the removal of fuel subsidy.

He added, “We need to bring in innovative way of increasing our revenue. For that, if I were the federal government, I would cancel any tax relief that I had given to people. For now, you don’t need to give any tax relief because the government is in dire need of revenue.

“Our biggest problem has been expenditure; we need to re-prioritise our expenditure and only spend on essential items until our revenue profile improves.

Unfortunately, we are going into an election year and naturally, in an election year in every government in Africa, you spend more than what you had budgeted.

“In our country, we really need the coordination between the fiscal authorities and the monetary authorities. The coordination has been there, but I think there is need for it to be strengthened. I think the quality of our fiscal spending is what we should look at in the first, instance in my view. Of course, we are constrained by fiscal space because of the high quantum of debt we have accumulated in the country.

“If you look at the IMF Article IV report, some concerns were raised about the level of Nigeria’s debt. Although we are below the threshold externally, but when you look at the domestic debt, we are above the threshold. If you talk about the sustainability, if you look at the total public debt of Nigeria, although, it is below the threshold by international benchmark, the rate of growth of the debt is something that an average economist in the country is concerned about. The quantum of the accumulation of debt is something we need to slow down about and address.

“Specifically, the Minister of Finance, Budget and National Planning, has often said the issue with the Nigerian economy is more of our ability to generate revenue than the borrowing that we are embarking on. If you look through it, technically what it implies is that we need to generate more domestic revenue and once we generate more domestic revenue, there won’t be need for the kind of borrowing that we are embarking on.”

Therefore, the myriad of economic challenges facing the country can only be addressed by the next president through urgent reforms that would help revive investor confidence, prevent more people from entering into poverty and achieve sustainable recovery. The next president is also expected to urgently strengthen its fiscal management, create a unified, stable market-based exchange rate and phase out fuel subsidy.

T H I S D AY ˾ MONDAY, FEBRUARY 27, 2023

31

BUSINESS SPECIAL

ANALYSIS

Examining Push Back against Naira Redesign, Cashless Economy In this piece, James Emejo interrogates the needless antagonism against the central bank’s currency redesign and a cashless programme whose benefits apparently far outweigh any shortcomings

I

t has been severally established that systemic/ societal dysfunction has led to the leadership quality crisis in the country which had in turn produced weak and corrupt institutions. The consequence is the chaos currently witnessed in every facet of the economy.

Corruption has been adjudged as the greatest challenge in developing countries particularly Nigeria which had been struggling since its independence to meet its development targets.

Pointedly, development had been stalled by the sheer mismanagement of public resources, and the lack of transparency and accountability among other others.

ENDEMIC CORRUPTION

Only recently, the country’s ranking fell four places on the latest Corruption Perception Index (CPI) report unveiled by Transparency International (TI).

The report showed that Nigeria maintained its previous year’s score of 24 out of 100 points, but fell from 150 to 154th position out of 180 countries assessed in the 2022 ranking. In previous years, Nigeria scored 26 points in 2019, 25 in the 2020 assessment, and 24 in 2021.

The chairman of Transparency International, Delia Rubio, “Corruption has made our world a more dangerous place. As governments have collectively failed to make progress against it, they fuel the current rise in violence and conflict and endanger people everywhere.

“The only way out is for states to do the hard work, rooting out corruption at all levels to ensure governments work for all people, not just an elite few.”

Instructively, most of the issues around corruption emanated from the mishandling, and embezzlement of public resources by politicians, and the absence of due diligence among others.

One of the visible consequences of corruption in Nigeria is rising poverty as current data from the National Bureau of Statistics (NBS) indicated that over 133 million Nigerians are multi-dimensionally poor.

For instance, the present system of cash-based society had been at a huge cost to the economy and had also ensured that the vulnerable population is frequently short-changed in government social intervention programmes as the initiatives are difficult to audit because there are no traces when monies are given by hand.

The cash-based economy has emboldened financial crimes, particularly by politicians and corrupt public officials who plundered government resources and laundered funds meant for the development of the country in foreign countries.

As a matter of fact, hardly were there any government social net programmes that have not been enmeshed in allegations of corruption as the privileged elite pocket the larger chunk of the interventions.

All these atrocities are carried out with impunity partly because most financial transactions cannot be traced as they are never properly documented and the best form of evidence remains the electronic copy.

This is just corruption on the surface and a whole lot of under-dealings happen in the administration of public resources.

As a result of the illicit monies held by politicians and public officers in the homes, and outside the banking system, the economy and Nigerians, in general, have had to pay a huge price – high inflation, exchange rate crisis, distortion of monetary policy, and unemployment among others.

Interestingly, such illicit monies have been used to further suppress the political system through vote-buying during an election. This subversion constantly allowed incompetent leaders to ascend to power and further compromise the system. It was definitely time to act.

CBN TO THE RESCUE

For many years, Nigerians have been yearning for a change and liberation of the strongholds of a few elites that have held the country to ransom.

Even though many knew what the issues are –no one dared to take steps to sanitise the country and liberate the poor masses.

Eventually, on October 26, 2022, the CBN under the leadership of Mr. Godwin Emefiele, decided to redesign the N200, N500, and N1,000 denominations and subsequently announced a policy that limited physical cash withdrawal.

Considering the timing of the policies – being an election year – some Nigerians particularly politicians believed that the apex bank’s move was targeted against certain individuals and have refused to see beyond their noses that the actions are in the best interest of Nigerians and the economy if the country must address the current gale of insecurity, corruption, and economic sabotage among other actions of some privileged elites who continued to take advantage of a dysfunctional system to short-changed the country.

Buhari

Emefiele If anything, there have been early successes of the CBN intervention - the monetary policy committee (MPC) of the central bank recently affirmed that the various policy interventions of the bank had led to a reduction in inflation after months of an uptick in the headline index.

Also, the cashless policy has led to a reduction in banditry and kidnappings which were rampant in the recent past.

The CBN Governor, Mr. Godwin Emefiele, while announcing the apex bank’s resolve to redesign the naira, pointed out that the move followed the approval of President Muhammadu Buhari.

Specifically, he noted that the move to redesign the currency was aimed at checking the increasing ease and risk of currency counterfeiting evidenced by several security reports, and the increased risk to financial stability as well as the worsening shortage of clean and fit currency, with the attendant negative perception of the central bank.

Emefiele, further explained that there was significant hoarding of naira notes by members of the public, with statistics showing that over 80 per cent of the currency in circulation was outside the vaults of the commercial banks.

According to him, as of September 2022, a total of N3.2 trillion was in circulation, of which N2.73 trillion was outside the vaults of the banks, describing the development as unacceptable as this has the potential to harm monetary policy actions, further leading to higher inflation and currency speculation, thereby exposing vulnerable Nigerians to further economic hardship.

Emefiele said the CBN acted in good faith towards the achievement of the bank’s objectives and the betterment of the country.

Essentially, Emefiele said there had been concerns about the management of the old series of banknotes as well as currency in circulation, particularly those outside the banking system in the country, stressing that currency management remained a key function of the CBN, as enshrined in Section 2 (b) of the CBN Act 2007.

EARLY SUCCESSES OF CBN CASHLESS POLICIES

As currently attested to by monetary authorities and Nigerians in particular, since the introduction of the naira redesign programme, and cashless policy where individuals are restricted to the withdrawal of N500,000 weekly and N5 million for corporate institutions, there had been a dropped in inflation to 21.34 per cent in December, having risen for 10 consecutive months.

Also, according to Emefiele, as of last week, over N1.9 trillion of the N2.7 trillion that was outside the banking system had returned to the central bank as a result of the currency redesign.

This will further ensure that the bank is able to manage currency in circulation and fight inflation.

The CBN governor also said instances of

kidnapping, banditry, and ransom-taking had also reduced though the military had also stepped up their onslaught against banditry.

As a matter of fact, according to the latest updates, of the N2.7 trillion that was outside the banking system, about N2.2 trillion had been recovered with a balance of about N500 billion.

Furthermore, a cashless policy will ensure that those who carry more than the approved limits of cash are easily tracked and apprehended.

Without a doubt, the implementation of the policies will curb corruption to a greater extent and help to channel such resources to other productive uses for the public good.

Furthermore, analysts believe that the naira redesign and cash policies could address corruption by ensuring that cash transactions are carried out in a transparent manner while the electoral process would be more sanitised, leading to the emergence of quality leadership that can drive the development of the country.

WHO IS ALLERGIC TO NAIRA REDESIGN, CASHLESS POLICY?

Despite the prospects and hope that these policies present toward setting the economy and sanitising the system, some people appeared to be averse to the CBN’s efforts.

Interestingly, the pushback has come mainly from the political elites who have continued to benefit and take undue advantage of a dysfunctional system.

Notably, from the cash seizures recorded by the anti-graft agencies during the 2023 presidential elections from politicians Nigerians could then appreciate the central bank’s disposition towards a cashless economy moving forward.

While the ordinary Nigerians have come to terms with the benefits of the current drive by the CBN to secure their future from selfish politicians, and elites, the latter has been doing all they can to bring the exercise into disrepute and incite poor Nigerians against the critical reforms currently taking place. Some have spread misinformation on social media platforms to jettison the currency redesign and cashless policies.

However, according to Emefiele, “Even in areas around the Sambisa, our agents are there conducting cash swap and cash exchange, the old to new currencies.

“I saw a tweet by someone who said, oh, somewhere in Yobe, another says somewhere in Maiduguri … that they had old notes, and now they can’t buy food and again they’re dying or crying…ladies and gentlemen, those who did those tweets, they know who they are.

“It is not the vulnerable and weak people that cannot write in English that are doing this.

Those that are doing them, know themselves, and they know the purpose for which they are

doing that. Like I keep saying, we will not go with them on that journey.”

The CBN governor, however, said, “We will remain focused on the weak, we will be more focused on the vulnerable in Nigeria. We will do everything to make sure that we are available to serve them, and make sure that this new naira permeates every nook and cranny of the country.”

ANALYSTS’ PERSPECTIVES

Nonetheless, analysts have offered their insights on why there is some opposition to the currency redesign and cashless policies.

Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, told THISDAY that such pushback is normal especially if the reforms tend to dislodge some vested interests.

He pointed out that the current scarcity of the naira could fortunately strengthen the local currency.

He said, “There is no policy, no matter how plausible and beneficial it is, that will not be criticized and opposed.

It is either the policy does not favour a particular set of people and they oppose it, or they do not want the policymakers to succeed in the achievement of the policy.

“Whatever that is happening with the Naira redesign and attendant scarcity of same is expected. It is for the good of the country and economy that the currency is redesigned around now. It is reducing demand and may bring down prices that are causing inflation. The scarcity of the Naira may also reduce the exchange rate.”

Also, Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, said, “The political class is the ones that will push back and resist the cashless policy because they primarily benefit from the old order and will be averse to any change in their modus operandi.

“The political elites need cash for vote buying and election rigging purposes and any policy against cash will jeopardise their operations.”

Gbolade said, “The benefits of the cashless policy and Naira redesign might not actually tackle electoral malpractices immediately but in the long run it will reduce the ability of our politicians to manipulate elections knowing fully well that their financial activities could be tracked in a cashless economy.”

On his part, Wealth Management and Business Development Consultant, Mr. Ibrahim Shelleng, said, “Change is one of the hardest things for people to accept, especially when they are used to a certain way of doing things”.

He said, “Admittedly the implementation of this new policy has been rather poorly managed and will undoubtedly lead to some discomfort and inconveniences to a large number of people, especially those in rural areas who may not have access to electronic channels.

“There are sets of people who use cash for illicit activities, and this policy will also severely hamper their activities, especially in the short term, until they discover alternative ways of continuing their activities.”

MONDAY, FEBRUARY 27, 2023 ˾ T H I S D AY

32

BUSINESS/MONEYGUIDE

Adedipe Predicts 3.32% GDP Growth in 2023 Ugo Aliogo The Chief Consultant of B. Adedipe Associates Limited (BAA Consult), Dr. ‘Biodun Adedipe, has predicted a positive 3.32 per cent gross domestic products (GDP) growth in 2023, a slight improvement over 3.19 percent for 2022.

Adedipe, who disclosed this at First Bank of Nigeria Limited, Nigeria Economic Outlook 2023, in Lagos said inflation rate is expected to moderate, but still double digit, therefore Nigerians should expect 17.76 per cent.

He hinted that monetary policy normalization could start as early as Q2, but assured for H2, with downward adjustment of MPR certain for H2. Expect 13.5 per cent, adding that lending rate would remain double digit.

He expressed confidence

that accelerated manufacturing and focused export promotion would bring some stability to the Naira exchange rate, “official likely at about N480/$ and roadside at N705/$.”

Earlier in his remarks, the Executive Director, Treasury and International Banking, First Bank of Nigeria Limited, Mr. Ini Ebong, stated that the rising monetary policy rates, increasing debt portfolio, volatile revenue from crude oil and brain drain due to talent emigration, and other factors, have become a wake-up call for proper dimensioning of issues to drive fiscal, and other policies that will be instrumental to ensuring the gains of previous years are sustained and that the economy wades through the seemingly consistent challenges.

Adedipe added that improvement in infrastructure would begin to positively impact the

cost of doing business.

He added that there would be intensified digitalization and ascendancy of the digital economy.

Adedipe, who is also the founder of Adedipe Associates Limited revealed that AfCTA has the potential market of $3 trillion and to lift intraregional trade to 20 percent for Africa, compared to 60 percent in Asia and 70 percent in European Union.

The economist remarked that the Nigeria economy is diversified and there are business opportunities in every sector of the Nigerian economy.

According to him, “There will be a large, youthful and rapidly growing population (6th largest in the world, median age at 18.1 years). There will also be rapid urbanization (51.96 percent in 2020, up from 47.84 percent in 2015).”

L-R: 1st Vice President, Chartered Institute of Stockbrokers (CIS), Oluropo Dada, Chairman, Fidelity Bank PLC, Mustafa Chilke-Obi; President , CIS, Oluwole Adeosun; 2nd Vice President, Fiona Ahimie and Registrar and Chief Executive, CIS, JosiahAkerewusiduringInvestitureofChike-ObiasHonouraryFellowofCISinLagosyesterday

MARKET INDICATORS

UNDP, FCMB, CEFTER Support 25 Early-stage Agritechs United Nations Development Programme (UNDP), First City Monument Bank (FCMB) and the Centre for Food and Research (CEFTER) of Benue State University have supported 25 early-stage Agritechs that were winners at the grand finale of the 2022 Agrohack Challenge held in Makurdi, Benue State, with funding.

TFCMB in a statement said the selected Agritechs received varying amounts of funding to help them scale their businesses and develop innovative solutions that address challenges in the agriculture sector.

“The funding ranges from N600,000 to N2.4million. The startups will also receive access to business support services, incubation, and networking opportunities. Achesa, a startup

raising the income of smallholder farmers through optimised yields, improved productivity and market access, emerged tops during the challenge and won the grand prize of N2.4 million.

“In addition to the N2.4 million, Achesa and 10 runnerups will receive incubation support from Hub One, the tech startup accelerator of FCMB, for three months and access to workspace, market and networks to aid business growth.

“Cardinal Torch and eSusFarm were second and third runners-up. They got N1.9 million and N1.5 million, respectively, from the Bank, while Farmsquare and Bionet also received N600,000 each from FCMB. Twenty-two other winners

were given N600,000 each by the United Nations Development Programme in Nigeria and the Centre for Food and Research.”

Congratulating the winners, Mrs Yemisi Edun, Managing Director of FCMB, said: “As an institution fostering inclusive and sustainable growth in local communities across the country, we prioritise agriculture and are committed to supporting Agritechs to build innovative solutions that will address the challenges in the sector and drive economic growth. We will continue to work with other stakeholders to improve agriculture and create a future of shared prosperity for Nigerians. We congratulate all the winners and look forward to working with them in their next growth phase.”

Tolaram Launches “Addmie” into Nigerian Market Multi-national conglomerate, Tolaram Group has launched a new mixed additional seasonings range, “Addmie”, produced for indigenous, international and continental cuisine.

Addmie is an innovative allnatural 3 in 1 blend made with a carefully selected mixed vegetables, proteins such as Crayfish and Chicken chunks and seasoning powder.

Speaking on the launch, General Manager Addmie Nutrition Limited, Sukhman Kaur, said the new products was in line with the group’s commitment to not just simplify the cooking process for the homemakers but also make everyday meals more nutritious and delicious for all families. With Addmie, we want to make the process of adding vegetables and proteins to your meals super easy

and convenient.

Addmie will elevate your dishes to the next level giving it the final touch, it is made using the finest of ingredients and completely free of artificial preservatives and additives, saving times that you would normally use to prepare/source your veggies or proteins before using them in your meals.” She said.

Tech Startup Launches App to Address Users’Pain Points Kayode Tokede Wynk Limited, a tech startup firm, has launched an innovative lifestyle App called “The Wynk Lifestyle Super App.” It is uniquely designed to make life easier for all classes of users, providing solutions to the pain points of users.

The firm said it is a cost-effective solution to everyday challenges ranging from financial services and fintech, domestic and crossborder payments, healthcare services delivery, education, agribusiness, e-commerce, and lots more.

The Chief Executive Officer of Wynk Limited, Dr. Jerry Igwilo said: “you are aware that with Central Bank of Nigeria’s (CBN) cashless policy our people must be allowed

to continue their lifestyle. In this regard, we have made payments very simple and easy for our people.”

“With the App, the majority of Nigerians who make use of public transportation, those who are financial services providers, and those who are service providers in the delivery and e-hailing sector, can now carry out their daily activities seamlessly.

“We have designed our Payment system to be easily usable by everyone.

We have the scan and pay solution, which makes it easy for market men and women, even street hawkers to make Payments and receive Payments instantly and seamlessly. So our people are the winners with Wynk,”

Dr. Igwilo enthused.

“So, you can see that we are here for everyone,” says The Wynk Chief Executive looking to onboard over 60 million Nigerians, and also dominate the market in 16 African countries.

Speaking to journalists in Lagos, Wynk Co-founder, Mr. James Lasenby, said that the user-friendly App has undergone thorough integrity testing and is trusted for optimized inbuilt security features that ensure the protection of users from malicious attacks.

He buttressed the value propositions to all stakeholders and the affordability of the product, pointing out that Wynk Patrons will enjoy unlimited benefits both in terms of earnings, security, and ease of transactions.

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

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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

Savings Deposit Rate

1.42

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

˾ 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)

33

T H I S D AY ˾ DAY, FEBRUARY 27, 2023

MARKET NEWS

Despite Political Tension, Stock Market Expands by N624bn Kayode Tokede The stock market segment of the Nigerian Exchange Limited (NGX) closed positive last week, gaining N624billion in market capitalisation amid tension towards 2023 general elections.

Accordingly, the NGX AllShare Index advanced by 2.13 per cent week-on-week (W-o-W) to close at 54,949.21 basis points.

Also, market capitalisation expanded N624 billion to close

the week at N N29.934 trillion.

Across the sectors last week, performance was largely upbeat for most of the indices that saw support from an increased inflow of funds into the equity space and continued buying sentiments, except for the insurance index that closed the week in a quiet mode.

Meanwhile, positive price movement was seen in the NGX Consumer Goods index with an increase of 6.30 per cent. NGX

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

Oil & Gas index rose by 2.73 per cent, NGX Banking index up by 2.21 pe cent and NGX Industrial Goods index gained by 0.34 per cent through the week as investors posed their expectations for the early filers from these sectors to start hitting the market with their 2022 full-year financial statements.

The market breadth for the week was positive as 39 stocks appreciated in price, 22 depreciated in price, while 96

remained unchanged. MRS Oil Nigeria led the gainers table by 32.83 per cent to close at N30.55, per share.

John Holt followed with a gain of 32.33 per cent to close at N1.76, while Tripple Gee and Company went up by 31.66 per cent to close to N2.62, per share.

On the other side, Capital Hotel led the decliners table by 9.42 per cent to close at N2.50, per share. Vitafoam Nigeria followed with a loss of 7.18 per cent to

S E C U R I T I E S

T R A D E D

QUANTITY TRADED

VALUE TRADED ( N )

MAIN BOARD

close at N19.40, while Neimeth International Pharmaceuticals declined by 6.45 per cent to close at N1.45, per share.

Overall, a total turnover of 799.848 million shares worth N29.354 billion in 14,194 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 751.990 million shares valued at N20.575 billion that exchanged hands previous week in 15,822 deals.

Despite the upbeat investor

AS O F

sentiment, analysts anticipated cautious trading this week as post-election developments unravel.

The NGX remains upbeat during the 2023 election season in Nigeria and signals a complete change of patterns in the history of Nigeria’s stock market as the positive sentiment and buying interest witnessed across all classes of stocks with a history of dividend payment had supported the uptrend.

2 3 / 0 2 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

34

T H I S D AY ˾ DAY FEBRUARY 27, 2023

CITYSTRINGS

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

Anambra Police Comes Under Radar as Allegations of Killings Trail Officers Anambra State Police Command was recently in the news again for the wrong reason, following allegations of unethical practices by some police officers attached to the Rapid Response Squad, reports David-Chyddy Eleke

Emeh

I

n 2020, during the #EndSARS protest, a lot of revelations came to the fore about alleged atrocious acts of some police officers in the Special Anti-Robbery Squad (SARS) in Anambra State, which was domiciled in Awkuzu, Oyi Local Government Area.

Many people came up with names and pictures of their missing relatives, most of who were alleged to have been arrested for one allegation or another.

While some were lucky to have made it back home alive but deformed, many were long dead and buried. The central actor then was CSP James Nwafor, who was described as being so ruthless and unfeeling.

Sources who knew the Awkuzu SARS Office said there was a cell named 'hell' in the facility, and had a bold inscription 'Welcome to hell'. Only supposedly hardened criminals were kept in the cell, but many said because of the alleged criminal tendencies of Nwafor and his cohorts, many people who they wanted to extort from were locked up in the cell and tortured until they confessed to crimes they knew nothing about, and accepted to do their bidding by paying their way out.

Nwafor was then said to be so deadly and temperamental that if anyone had the Ill luck of making him draw open a drawer in his office where he always kept a silver coloured pistol, he must shoot, even if it meant on the victims feet, but unlucky ones have had to be sent to their early grave. He was quoted by many who passed through that office as boasting that nothing will happen if he killed a suspect.

The 2020 #EndSARS protest however led to the abolishing of SARS nationwide.

In Anambra State, the Awkuzu SARS office was renamed Anambra State Police CID Annex, and housed members of the Rapid Response Squad (RRS), a unit in the police.

But recent discoveries have however shown that just like the disbanded SARS, Awkuzu remained a very deadly place, as members of the RRS, led by one CSP Patrick Agbazue a young, boyish handsome and likeable officer who took over the annex became even more brutal than his predecessor.

In the past two weeks, a popular blogger, Gistlover had made lots of allegations about unethical practices by one CSP Patrick Agbazue who is the commander of RRS; SP Nkeiru Nwode, the police public relations officer of Zone 13 police command, and another police officer, Inspector Harrison Akama, who was described as Agbazue's killing machine, who tortures his victims until

IG Adamu

they confess to crimes they know nothing about.

Among the allegations are the dispossession of suspects of monies in their accounts, their cars and other belongings, which the police officers keep for themselves.

They were also accused of selling the body parts of most of their victims to enrich themselves. For Nwode particularly, she was also said to have secretly married Akama, a lower ranked police officer, an act said to be against police code. This is outside an existing marriage, which she is into, which yielded a child.

As these allegations continue to drop, the Inspector General of Police, Mr Usman Alkali Baba has waded into the matter.

In a press statement by the force, which was issued by the Force Public Relations Officer, CSP Olumuyiwa Adejobi.

The statement reads, “The Inspector-General of Police, IGP Usman Alkali Baba, has set up a special investigation panel under the IGP Monitoring and Mentoring Unit to commence investigations into some weighty allegations of unprofessionalism, high-handedness, and extra-judicial killings leveled against its officers serving at the Zone 13 Command, Ukpo-Dunukofia, and the Anambra State Command on social media platforms.

“In light of the serious allegations leveled against the officers – CSP Patrick Agbazue, officer-in-charge of the Rapid Response Squad (RRS), Anambra State Command; SP Nwode Nkeiruka, the Police Public Relations Officer of the Zone 13 Headquarters, Ukpo-Dunukofia, and Inspector

SP Nwode

CSP Patrick Agbazue

Harrison Akama attached to the RRS, they reported at the Force Headquarters, Louis Edet House, Abuja today Friday 17th February, 2023, on the directives of the IGP for commencement of investigations to ascertain the veracity of the allegations for further necessary action, while the panel has been given a period of two weeks to come up with a report of investigations.

“The Force enjoins any member of the public who has had experiences or information on acts of high-handedness, extortion, or extra-judicial killings by the officers in question, to forward same with detailed information via mobile number 08036242591, or by email via pressforabuja@police.gov.ng, igpmufhq@ npf-c4i.com to enable the panel achieve a wholistic investigation.

“The Inspector-General of Police has assured that the findings of the investigations will determine the next line of action, even as he promises that the Force will leave no stone unturned in ensuring that justice is done in the case and sanctions meted to any officer found guilty accordingly.”

Also, the Anambra State governor, Prof Chukwuma Soludo, has ordered the Attorney General of the state to call for a review of all case files with allegations human rights abuses by the officers.

In a statement signed by Christian Aburime, his press secretary, Soludo said, “Preliminary inquiry has revealed that the Inspector General of Police has set up a Special Investigation Panel to investigate the allegations at the end of which a report would be issued. I commend the Inspector General of Police for that timely intervention.

“In the meantime, I have requested the Attorney General of Anambra State to immediately call for, and review all the files of cases on allegation of commission of offences created by the laws of our State, being handled by the said RRS. This will enable the Attorney General to give such directions or take such necessary legal actions in line with section 211 of

the Constitution and sections 148, 149 and 150 of the Administration of Criminal Justice Law of Anambra State 2022.

"My administration has zero tolerance for criminality and will always allow the rule of law to reign supreme at all times while ensuring that justice is meted to those who deserve it," he said.

On its part, the Anambra State Police command is not relenting in trying to crack the matter from within. The command however seems to be more interested in the source of information for the blogger, Gistlover, who has made lots of revelations against the police officers.

The Command on Monday declared a member of the National Youth Service Corps (NYSC), Mr Emeh Nnamdi Daniel, wanted.

Emeh, a 26 years old man undergoing his youth service at the state police command, and deployed to work as an IT expert at RRS, Awkuzu was declared wanted on the offence of unlawful possession of firearm, money laundering, defamation of character, fraud, and impersonation.

The Anambra State Police Command's spokesperson, DSP Tochukwu Ikenga who hinted of the declaration said: "Mr Nnamdi Daniel was a member of the National Youth Corps( NYSC) member with State Code Number AN/22A/3323, attached to Anambra State Police Command.

"He has been positively identified to be involved/mentioned in an ongoing investigation in the command. Therefore, the command urges the general public to report to the nearest Police Station, if seen or call the Command Control Room number for any information that can aid in his location for arrest."

Meanwhile, a source told THISDAY that the police strongly suspects that Emeh may have been responsible for the leaking of information to the blogger, as he worked directly under Agbazue and was privy to many underhand deals in the police unit.

In the meantime, THISDAY learnt that the police officers have returned to Anambra State from Abuja, after they were invited, while the force headquarters has continued with its investigation.

When THISDAY reached out to the Anambra State Police spokesperson, DSP Tochukwu Ikenga for reaction about the matter, he refused to make any comment on it. He also refused to say if the declaration of Emeh as a wanted man had any connection with the allegations against the officers.

However, families of those mentioned as victims of the squad's excesses have been vocal about the need for the matter not to be swept under the carpet.

The Inspector-General of Police has assured that the findings of the investigations will determine the next line of action, even as he promises that the Force will leave no stone unturned in ensuring that justice is done in the case and sanctions meted to any officer found guilty accordingly

35

MONDAY, FEBRUARY 27, 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 23Feb-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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.39% AIICO Balanced Fund 3.90 3.96 14.74% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.59% Anchoria Equity Fund 154.70 156.35 6.73% Anchoria Fixed Income Fund 1.23 1.23 0.07% 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 7.19% ARM Discovery Balanced Fund 549.92 566.50 5.50% ARM Ethical Fund 46.83 48.25 3.81% ARM Eurobond Fund ($) 1.13 1.13 0.83% ARM Fixed Income Fund 1.12 1.12 1.24% ARM Money Market Fund 1.00 1.00 10.69% ARM Short Term Bond Fund 1.05 1.05 0.94% 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 97.16 97.16 2.17% AVA GAM Fixed Income Naira Fund 1,105.01 1,105.01 -1.90% 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 3.80% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.37 2.42 7.86% 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 1.02 1.02 1.21% 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 12.68% Paramount Equity Fund 20 20.36 7.75% Women's Investment Fund 156.68 158.65 6.04% CHD Nigeria Bond Fund 101.37 101.37 10.91% CHD Nigeria Dollar Income Fund 1.02 1.02 9.43% 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 10.75% Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A 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 10.32% EDC Nigeria Money Market Fund Class A 1,000,000.00 1,000,000.00 11.62% EDC Nigeria Money Market Fund Class B 1,115.62 1,119.74 0.79% 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 1497.53 1497.53 12.32% FBN Balanced Fund 210.26 211.75 5.29% FBN Halal Fund 125.26 125.26 12.87% FBN Money Market Fund 100.00 100.00 12.08% FBN Dollar Fund 121.41 121.41 6.86% FBN Smart Beta Equity Fund 0.00 0.00 5.93% FBN Specialized Dollar Fund 105.47 105.47 9.75% 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 8.60% Legacy Debt Fund 3.52 3.52 -12.08% Legacy Equity Fund 2.09 2.14 20.42% 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 4,376.70 3,755.40 100.00

Offer Price 4,405.80 3,755.40 100.00

Yield / T-Rtn 27.12% 7.89% 11.26%

FSDH Dollar Fund 1.14 1.14 5.67% 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 100.00 100.00 7.87% Vantage Balanced Fund 3.19 3.24 7.30% Vantage Guaranteed Income Fund 1.00 1.00 7.17% Kedari Investment Fund (KIF) 0.00 0.00 0.00% Vantage Equity Income Fund (VEIF) - June Year End 1.29 1.33 5.89% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 8.67% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 13.06 13.10 6.17% Meristem Money Market Fund 10.00 10.00 11.42% 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) 102.02 102.02 10.21% Norrenberger Money Market Fund (NMMF) 100.00 100.00 10.07% 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 132.61 135.75 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 1.02 1.02 11.01% 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 3,800.65 3,831.18 12.12% Stanbic IBTC Bond Fund 246.62 246.62 4.69% Stanbic IBTC Ethical Fund 1.51 1.53 20.63% Stanbic IBTC Guaranteed Investment Fund 335.53 335.53 7.15% Stanbic IBTC Iman Fund 275.81 278.86 18.03% Stanbic IBTC Money Market Fund 1.00 1.00 12.91% Stanbic IBTC Nigerian Equity Fund 12,812.24 12,966.94 17.34% Stanbic IBTC Dollar Fund (USD) 1.38 1.38 6.70% Stanbic IBTC Shariah Fixed Income Fund 122.13 122.13 4.46% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 116.48 116.48 9.50% Stanbic IBTC Absolute Fund 4,625.29 4,625.29 8.72% Stanbic IBTC Aggressive Fund 3,414.84 3,458.35 22.84% Stanbic IBTC Conservative Fund 4,360.77 4,377.44 14.55% 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 1.04 1.06 8.74% United Capital Balanced Fund 1.56 1.59 13.92% United Capital Wealth for Women Fund 1.24 1.26 6.55% United Capital Sukuk Fund 1.12 1.12 10.09% United Capital Fixed Income Fund 1.97 1.97 7.32% United Capital Eurobond Fund 126.36 126.36 5.50% United Capital Money Market Fund 1.00 1.00 11.66% 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 14.45 14.58 4.18% Zenith ESG Impact Fund 16.45 16.61 4.03% Zenith Income Fund 23.81 23.81 1.08% Zenith Money Market Fund 1.00 1.00 0.00% 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 N/A N/A N/A Vetiva Consumer Goods Exchange Traded Fund N/A N/A N/A Vetiva Griffin 30 Exchange Traded Fund N/A N/A N/A Vetiva Money Market Fund N/A N/A N/A Vetiva Industrial Goods Exchange Traded Fund N/A N/A N/A Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund N/A N/A N/A REITS NAV Per Share

Yield / T-Rtn

115.29 53.47 101.31 9.93

1.22% 4.65% -13.05%

Bid Price

Offer Price

Yield / T-Rtn

16.36 140.54 109.71 17.40 16.40

16.46 142.99 111.61 17.50 16.50

5.69% 10.13% 9.73% -0.32% 6.29%

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.

36

MONDAY, FEBRUARY 27, 2023 • T H I S D AY

NEWS

LAGOS INEC OFFICIAL ANNOUNCES PRESIDENTIAL ELECTION RESULTS...

L-R: Assistant Commissioner of Police (ACP) in charge of operations, Oludotun O. Odubona; INEC Resident Electoral Commissioner in Lagos State, Mr. Olusegun Agbaje; Lagos State Collation Officer and Vice Chancellor, Federal University of Technology, Akure (FUTA), Prof. Adenike Oladiji with HOD Electoral Operation, INEC, Lagos, Felix Daramola during the official announcement of the presidential election at the commission's head office , Lagos ... yesterday KUNLE OGUNFUYI

Upsets, Shock as National Assembly Elections’ Results Trickle In Speaker Gbajabiamila Reelected for 6th Term Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has hailed his constituents in the Surulere 1 Federal Constituency of Lagos State for reelecting him for the 6th term.

Gbajabiamila emerged victorious during the presidential and National Assembly elections that took place on Saturday.

He polled 19,717 votes to defeat his closest opponent, Bosun Jeje of the Peoples Democratic Party (PDP), who scored 5,121 votes.

The Speaker was first elected to the House of Representatives in 2003 and had since won elections for five cycles, including last Saturday's.

During his 20-year journey in the House of Representatives so far, Gbajabiamila has served as Minority Whip, Minority Leader, Opposition Leader, and Majority Leader before he was elected Speaker in 2019.

Reacting to the victory, Gbajabiamila said he remained grateful to the people of Surulere 1 for giving him the sixth term mandate, noting that he would not disappoint them.

He said he would continue to work assiduously to bring more development projects to Surulere and beyond.

Fatoba Defeats Fayose, Obayemi, Others;

Bamidele Wins

INEC in Ekiti State has declared the All Progressives Congress (APC) House of Representatives candidate for Ekiti Central Federal Constituency 1, Hon. Fatoba Olusola Steve winner of 2023 Ado, Irepodun-Ifelodun Federal Constituency election.

Equally, the senate candidate of the APC for Ekiti Central, Senator Michael Opeyemi Bamidele, has been declared as the winner of the poll.

With the announcement of Bamidele, he would be the first Senator in Ekiti Central to be reelected back to National Assembly since 1999.

The INEC Returning Officer for the Constituency, Prof. Opoola Bolanle Tajudeen, Olusola polled 39,182 votes to defeat the son of former Ekiti State Governor, Oluwajomiloju Fayose of PDP, who came distant second with 12,295 votes and Obayemi Toyin Temidayo of Social Democratic Party (SDP), who came distant third with 10,899 votes.

Bamidele was declared the winner by the INEC Returning Officer, Prof. J. Sola Omotola, announced that he polled 69,351 to defeat his rival, Lateef Oladimeji Ajijola of PDP, who polled 26,181 Bamidele, who is the Chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters was at his victory thanksgiving

service, held at Babamuboni Memorial Anglican Church, Iyin-Ekiti with his wife, family members, friends and political associates.

He appreciated the good people of Ekiti Central for giving him yet another privilege and democratic mandate to represent them in the Senate of Federal Republic of Nigeria.

House Spokesman Reelected in Abia, Onyejeocha Loses

*Adeleke’s rep wins in Osun The Chairman, House of Representatives Committee on Media and Public Affairs, Hon. Benjamin Kalu, has won his reelection for Bende Federal Constituency in Abia State.

The All Progressives Congress member was reelected for a second term.

According to the results declared by the Returning Officer, Adindu Chidinma, APC polled 10,020 votes in the constituency, beating the Labour Party with 6,818; Peoples Democratic Party, 3,930; and the All Progressives Grand Alliance, with 301 votes.

Others are APN with 184; YPP, 105; ADC, 90; APP, 72; NNPP, 60; and SDP with 17 votes.

Reacting in a message, Kalu said, “This is a moment of happiness.

This victory is sweet because it came with a lot of hard work and

confrontation between those outside and some forces within the party.

“But in all of these, God has seen the sincerity of our hearts to serve the people of Bende with transparency, honesty, in the spirit of accountability and His name has been glorified.”

Meanwhile, the ambition of the Deputy Chief Whip of the House of Representatives, Hon Nkeiruka Onyejeocha, (APC) to return to the House for a fifth term has been cut short as Chief Amobi Ogah of the Labour Party, won.

Announcing the results, the returning officer, Nneoma Nnochiri declared that LP scored 11,769, PDP 6760, APC 8752, APGA 1,198 But the lawmaker representing Ede-North/Ede-South/Egbedore/ Ejigbo Federal Constituency in Osun State, Hon. Bamidele Salam, has won his reelection.

Returning Officer, Dr Muritala Monsuru, of the Department of History, University of Ibadan, who declared the results for the constituency, said Salam polled 64,236 votes to defeat his All Progressives Congress opponent, Akeem Atanda, who scored 35,444 votes.

A breakdown of the result showed that Salam beat Atanda in all the four local government areas making up the federal constituency with a margin of 28,792 votes.

Salam, in his reaction, expressed

PDP TO BUHARI: CALL APC, TINUBU TO ORDER FOR CLAIMING VICTORY confusion by publishing and circulating Home to Victory Your Fate, PDP Mocks fake election results, a ploy it said The Peoples Democratic Party (PDP) Tinubu

and the commencement of formal announcement of results by the INEC Chairman.

"There are reports that the situation is heightening apprehensions and is capable of triggering a breakdown of law and order in these states if not immediately addressed and election results as cast at the polling units are transparently collated and transmitted to INEC Headquarters in Abuja."

The PDP demanded that the Chairman of INEC, Prof. Mahmood Yakubu, cautioned the commission’s officers in Kaduna, Kano, Katsina and Zamfara States not to tamper with the results of the election as cast at the Polling Units.

PDP further stated that the INEC Chairman should also direct the immediate transmission of the results to INEC Server.

"The APC governors must respect the will of the people as expressed at the ballot as anything to the contrary will be firmly resisted by Nigerians.

The PDP continues to call on the public to be calm, remain at alert and use every means necessary within the ambit of the law to ensure that their will is not subverted by the APC," Ologunagba stressed.

Stop Lamenting, Accept

The Atiku/Okowa Campaign Organisation has counseled the Tinubu/Shettima Campaign to stop lamenting, but accept its fate and hold back its tears pending the official announcement of the outcome of the presidential election by INEC. In a statement by one of the spokespersons of the campaign, Kola Ologbondiyan, PDP said it was pathetic that after failing to blackmail and compromise INEC and after failing to cause crisis to scuttle the election, the Tinubu Campaign has resorted to posting fabrications and labyrinth of lies against the Atiku/Okowa campaign as published on the front page of a newspaper believed to be owned by its Presidential Candidate, Bola Tinubu.

"Such wretched shenanigan and fixation on the PDP by the Tinubu/Shettima Campaign only exposes Tinubu’s nervousness in conviction of looming defeat by the Presidential Candidate of the PDP, Atiku Abubakar," the statement stated.

The Atiku /Okowa said apparently rattled by their feared damaging verdict of the ballot box against its candidate, the Tinubu/Shettima Campaign was desperate to create

would fail to fly in the face of real results coming from polling units across the country.

According to the statement, "The Tinubu/Shettima Campaign should come to terms with the decision by Nigerians to use their vote to recompense the APC for the excruciating hardship, anguish and pain it inflicted on our nation in the last seven and half years.

"Our Campaign, therefore, seriously frowns at the wicked deployment of the front page of newspaper believably to be owned by Senator Tinubu to contrive a wholesomely false narrative to deceive Nigerians.

"Such is not only a scandalous abuse of the media but also a calculated attempt to subvert our democratic system and cause confusion in the polity; a scheme which must be condemned by all."

The Atiku/Okowa Campaign, therefore, urged Nigerians to remain calm but alert in resisting the devastated APC and the Tinubu/ Shettima Campaign which is already suffering from pre-defeat trauma.

PDP Thanks Nigerians, Boasts Atiku is Coasting

has asserted that from preliminary reports on the results coming from the February 25, 2023 Presidential election, it was confident its Presidential Candidate, Atiku Abubakar, was already coasting to victory.

The PDP noted that Atiku Abubakar was securing the highest number of valid votes cast as well as the statutory 25% in at least two-thirds of the states of the federation to ultimately brace the tape on the first ballot.

In a statement by the National Publicity Secretary of the party, Hon. Debo Ologunagba, PDP said, "Our party appreciates Nigerians from across the country for putting their avowed solidarity and support for Atiku Abubakar into action by coming out en masse to give their votes to the PDP, irrespective of ethnicity, creed, age and even political affiliations.

"From preliminary results, it is clear that Atiku Abubakar’s message of hope, unity, security and rebuilding of our nation has been positively received by Nigerians, who are eager to embrace a new era under a purposeful leadership, which the PDP and Atiku Abubakar embody."

The PDP assured Nigerians that the hope which Atiku symbolises as

gratitude to God, Governor Ademola Adeleke, and his constituents for the renewed trust and confidence reposed in him through his re-election.

Senate’s Spokesman, Bashiru, Loses to PDP in Osun

Senate spokesperson, Ajibola Basiru, has lost his bid to return to the senate, after losing to the candidate of the Peoples Democratic Party, PDP, Fadeyi Olubiyi.

Declaring result of the election at the Osun Central Senatorial collation centre, Osogbo City Hall, Olonkoro, the collation officer, Professor Ibrahim Usman disclosed that Olubiyi scored 134, 229 to defeat Basiru, who polled 117,609 while Labour Party candidate, Oyebode Babasola, scored 2,292.

Also, the PDP candidate for Osogbo Federal Constituency, Moruf Adebayo polled 71,677 votes to defeat his APC rival, Abosede Kasumu-Ogo-Oluwa who scored 58,992 votes.

According to the collation officer, Dr Isiaq Egbewole, the Labour Party candidate scored 1,930 votes to emerge third.

APC Wins Four Federal Constituencies in Ogun

Candidates of the ruling APC have won the four House of

well as the onerous task of unifying and returning the country to the path of stability, national cohesion and economic prosperity will soon begin.

"Our Party therefore calls on INEC to ensure very transparent and credible collation process in such a manner that guarantees that all votes count and that the will of the people is respected.

"INEC should not only ensure prompt uploading of results but also continue to make the result viewing portal available to the public in the interest of transparency," the PDP stated .

The PDP congratulated Nigerians for peaceful elections despite the threats, resort to violence and desperation of the All Progressives Congress (APC) to scuttle the process, while urging them to remain calm and resilient until the final declaration of results.

Allow INEC Perform Its Duties, APC Charges Opposition

The APC Presidential Campaign Council, yesterday, said it has noticed disingenuous attempts by the opposition parties, spokesmen of their campaign councils and their hired talking heads on Television

Representatives election results officially released by INEC in Ogun State.

The federal constituencies released were Abeokuta South, Yewa North/ Imeko Afon, Ijebu North/Ijebu East/ Ijebu Waterside and Egbado South/ Ipokia Federal Constituencies.

In Abeokuta South Federal Constituency, the APC House of Representatives candidate, Hon. Afolabi Afuape, was declared winner of the poll c.

Returning Officer, Prof. Oladele Salako, declared Afolabi winner, over candidates of other political parties.

Ex-Ogun Governor, Daniel, Wins Senate Election

A former Governor of Ogun State and candidate of the All Progressives Congress (APC), Otunba Gbenga Daniel, has won the Ogun East senatorial election.

In the election announced by the INEC, Daniel scored 115,147 votes to defeat other candidates in the contest for National Assembly seat.

The official results were announced by the Returning Officer, Prof.

Christopher Onwuka, at the Ogun East Senatorial Collation Centre in Itoro Hall, Ijebu-Ode. Continued online

and Radio Stations to discredit the presidential and National Assembly elections.

Director, Media and Publicity, APC Presidential Campaign Council, Bayo Onanuga said, noteworthy were spokespersons of Labour Party Presidential Campaign Council and that of the Peoples Democratic Party/ Atiku Presidential Campaign Council.

According to the statement, “Two persons we consider as respectable citizens, Professor Pat Utomi and Director-General of Peter Obi Campaign Council, Mr. Akin Osuntokun threw caution to the wind by their inciting and incendiary comments on social media and TV stations, where they have been making baseless and irresponsible allegations of electoral manipulations and other malpractices against our party and the electoral umpire, all in a bid to cause disaffection and civil unrest in the country.

“We must also stress that we have noticed many partisan talking heads claiming to be Election Observers on radio and TV stations, who are presenting skewed and patently false narratives about the general conduct of the election across the country.

Continued online

MONDAY FEBRUARY 27, 2023˾ T H I S D AY

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NEWS

NATIONAL LOTTERY PLATFORMS LAUNCHED…

-L- R: Special Adviser to the Minister of Special Duties and Inter-governmental Affairs, Richard Agura; Director General of the National Lottery Regulatory Commission, Mr. Lanre Gbajabiamila; Executive Secretary, National Lottery Trust Fund, Dr. Bello Maigari, and Managing Director of National Lottery Nigeria, Mr. Layi Onafowokan, at the official launch of the National Lottery Nigeria platforms in Abuja….recently

Three Corpers Held Hostage in Warri over BVAS Failure, Electorate Insist on Voting

Sylvester Idowu in Warri

Three National Youth Service Corps(NYSC) members serving as adhoc officials for the Independent National Electoral Commission (INEC) were yesterday held hostage by electorate in the rescheduled Presidential and National Assembly elections in Warri,

Delta State.

The officials, who were deployed to Ward 1, Unit 19, Oki 1, off Okere road, were still being detained as at 6.45 pm last night over malfunctioning of the BVAS assigned to them for accreditation of voters in the Itsekiri community.

The three youth corpers, identified as Udon Stephanie,

2023: NNPP Protest over Disenfranchised Kwara Voters

The Kwara Governorship Candidate of the New Nigeria People’s Party (NNPP), Prof.

Shuaibu AbdulRaheem, has alleged that majority of the party supporters were disenfranchised in Saturday’s presidential and parliamentary elections.

The gubernatorial candidate made the allegation in an interview with the News Agency of Nigeria (NAN) in Ilorin yesterday.

AbdulRaheem, a former Vice Chancellor of the University of Ilorin, said that the issue of the logo of NNPP on ballot papers was a very controversial one and should be resolved very soon.

“INEC printed the logo of the

party, with fruit basket, but the colour separation and NNPP acronymn were absent, so if you look at the ballot paper, the logo appears in a dark-brown colour.

“It takes a lot of effort of the eye to identify which is the basket and which is the fruit.

“If this appears to ordinary Nigerians, who are of average or little education, it will pose a challenge,” he said.

AbdulRaheem cited an instance where an electoral officer denied some NNPP voters the opportunity to vote, because NNPP was not written on the ballot paper, even with the presence of the party symbol.

Politician Shot Dead by Security Agent in Ondo Fidelis David inAkure A member of a prominent political party in Idanre Local Government of Ondo State, Mr. Akinlabi Akinnaso, alias, “Oluomo” was yesterday shot dead in the community.

THISDAY gathered that “Oluomo” lost his life yesterday morning after he was allegedly shot by one of the security agents present at the Independent National Electoral Commission (INEC) Collation Centre at OwenaAyetoro, in Idanre.

THISDAY also gathered that the

deceased was allegedly involved in a scuffle with the armed personnel while the Certificate of Return was about to be given to the winner of the House of Representatives election, Hon. Festus Akingbaso Fessywest, the incumbent member of Ondo State House of Assembly, representing Idanre Local Government Area Constituency.

However, the corpse of the deceased, who is in his forties, has been deposited in the mortuary of the General Hospital, Idanre after he had been certified dead by the medical doctor on duty.

Igein Theresa and Adeleke Balikiz Yetunde were allegedly abandoned to their fate by their supervisory polling officer.

THISDAY gathered the electoral officials arrived their

assigned polling units at about 4 p.m, whereas the electorate had been waiting since morning only to be told that the BVAS machine malfunctioned.

“We were here yesterday from

morning till night and couldn’t vote. Again, today, we have been waiting since morning and they came in this afternoon only to tell us that the BVAS machine is not working.–

“The SPO took the machine away and we have not seen her.

The Corpers are with us. We won’t allow them to go. We must vote,” one of the community youths was heard shouting.

INEC Begins Collation of Presidential Results amidst Peaceful Protest in Imo The Independent National Electoral Commission (INEC) yesterday evening commenced the collation of presidential results from the 27 Local GovernmentAreas of the state.

The collation commenced amidst a peaceful protest by the Labour Party and Ohaneze Youth Council, who alleged a compromise in the outcome of the National Assembly elections conducted in Orlu Senatorial zone.

The State Collation Officer, Prof. Charles Esimone, flanked

by INEC’s Resident Electoral Commissioner (REC), Prof. Sylvia Agu, had declared the collation of presidential results open at about 6.30pm.

Esimone, who is presently the Vice Chancellor of Nnamdi Azikiwe University Awka, pledged to ensure a transparent collation exercise.

The News Agency of Nigeria (NAN) reported that as at the time of report, nine Local Government Areas have so far been collated and announced by the various collation

officers before embarking on break as at 10:10pm.

The Local Government Areas included Isiala Mbano, Isu, Nwangele, Ideato South, Ideato North, Nkwerre, Orsu, Owerri North and Ikeduru Local Government Areas.

However, shortly before commencement of the exercise, the National Vice Chairman of Labour Party, South-east, Mr. Innocent Okeke, submitted a protest letter to INEC.

Okeke told newsmen in an interview that the protest letter was against “the anomaly that we witnessed during the election.”

“We received complaints that no elections took place in many places but results were generated and uploaded.

“We came to protest to let the world know that we as Labour Party want to do away with old order and enshrine a new order of leadership and rulership in Nigeria,” Okeke said.

Academy Trains Young Women on Sustainable Financial Independence The Brief Academy, a digital learning hub, in collaboration with the Pulte Institute for Global Development and the Khalil Halilu (KSH) Foundation trained young women on the importance of financial independence.

The groups also launched the FEM-Money in Abuja on Thursday.

FEM-Money is a hybrid workshop assembled to assist young women entrepreneurs to create sustainable enterprises

with practical financial management and social impacts.

Ms Farida Yahya, the Founder of the digital learning hub, said the aim of The Brief Academy is to develop and support femaleowned startups on financial independence.

She said “our goal is to sensitise and educate more young women on the importance of financial independence and the skills required toward building a scalable business

with impact in their immediate community.

“All of the workshop courses are uniquely designed to equip the budding entrepreneurs with practical steps and skills needed en route financial independence.”

Yahya added that FEMMoney workshop was set up to accommodate entrepreneurs from far and wide, with expert tutors to broaden participants’ perspectives on potential investment portfolios.

Khalil Halilu, the Founder of KSH Foundation, described business as a game of numbers, emphasising its social impact and the need to track and record profits.

He said “creating a business with a positive social impact is as important as creating a business in itself. With the country’s population spilling over 200 million and 70 to 80 per cent living below the poverty line.

Ogun West: Senator Adeola in Historic Win James Sowole in Abeokuta

In a historic win, the Chairman of the Senate Committee on Finance and the All Progressives Congress (APC), Senatorial Candidate for Ogun West Senatorial District, Senator Solomon Adeola has emerged the winner of the election held on Saturday in the district.

Adeola, popularly called Yayi, is the Senator currently representing Lagos West in

the upper chamber of the National Assembly.

In the result announced by the Returning Officer, Professor Olusegun Onabanjo, he said Adeola won by a total vote of 112,887 to defeat his closest rival, Chief Ganiyu Dada Obanibasiri of the Peoples Democratic Party (PDP), who scored 60,189. The Labour Party candidate came third with a total vote of 19, 244.

The result was announced at Oronna Townhall, Ilaro, the

Ogun West Senatorial Collation Centre.

Adeola, who had won all his five previous elections consecutively, made national history by winning again in Ogun West from his present senatorial district of Lagos West making a senator in a state and a senator-elect in another state until the expiration of his current term in June this year.

The senator had won his party’s primary in Ogun West

against the incumbent senator, Senator Tolu Odebiyi by a total vote of 294 against zero for the incumbent.

The winning votes of 112,887 votes for Senator Adeola marked a departure from the previous senatorial election of 2019, where the winner scored 58, 452 votes out of a total of 150,517 of the three top candidates. The total vote cast for the three leading candidates in this election 192, 320.

Oshiomhole Wins Senate Seat in Edo Election: No Corps Member Beaten to Death, NYSC Clarifies The Independent National Electoral Commission (INEC) has declared Mr. Adams Oshiomhole of the All Progressives Congress (APC) as the winner of Saturday’s election for Edo North Senatorial District in Edo. The INEC Returning Officer, Prof. Benjamin Adesina, yesterday in Auchi declared Oshiomhole as the winner of the polls with 107,110 votes.

He defeated the incumbent Senator, Francis Alimekhena of the Peoples Democratic Party (PDP) who scored 55,344 votes “Adams Oshiomhole of APC having scored the highest number of votes, is hereby declared as the winner of the election conducted on the 25th of February for Edo North Senatorial District,” Adesina said.

The National Youth Service Corps (NYSC), said contrary to reports on social media, no youth corps member participating in the general election was beaten to death.

According to a statement issued yesterday by the Director, Press and Public Relations, Mr Eddy Megwa, the brutalised corps member did not die as reported but recuperating after

treatment at the hospital.

He added that the brutality of the said corps member was a case of mistaken identity. ”Indeed, a corps member deployed to LEA primary school, Lugbe as an Independent National Electoral Commission (INEC) ad-hoc staff, was brutalised by angry mob on the suspicion that he was involved in the act of thumbprinting

ballot papers in favour of one of the presidential aspirants.

“To put issues in proper perspective, the brutalisation of the corps member was a case of mistaken identity.

“This was made known after investigation by the security agencies.”

He also clarified that the corps member was not part of the criminal gang involved

in the said act.

Megwa added that the culprits who were neither corps members nor officials of the NYSC have been apprehended by the Police. ”The scheme therefore wishes to call on Nigerians to exercise restraint on issues that concern corps members and other electoral officers on national assignment during the general elections.”

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MONDAY FEBRUARY 27, 2023 ˾ T H I S D AY

NEWS XTRA

LANCELOT GROUP CELEBRATES 30TH ANNIVERSARY…

L-R; Director, Lancelot Registrar and Investors Relations, Mrs Iniobong Utere; Director, Lancelot Ventures Ltd, Ms. Fiyinfolu Adeleke; Director, Lancelot Fund & Portfolio Management Ltd, Mr. Godwin Ifeakor; Director, Lancelot Ventures Ltd, Mrs Olubosede Adeleke; Executive Chairman, Lancelot Ventures Ltd, Mr. Adebayo Adeleke; Director, Lancelot Fund & Portfolio Management Ltd, Mrs Hilda Nkor; Chairman, Lancelot Fund & Portfolio Management Ltd, Alhaji Danladi Yaro; Director, Bird Song Glory Ltd, Mr. Moses Igbrude; Directors, Lancelot Ventures Ltd, Mr. Olufifun Adeleke and Olufikun Adeleke, and Director, Lancelot Registrar and Investors Relations Ltd, Mrs Abiodun Igben, during the 30th Anniversary celebration of Lancelot Group in Lagos...recently ABIODUN AJALA

INEC Rejects Election Result from Okowa’s LGA Obi humbles gov, Ogboru, Keyamo in Delta

Omon-Julius OnabuinAsaba

The Independent Ntional Electoral Commission (INEC) yesterday rejected election results presented at the commission’s state office in Asaba for Ika North-east Local Government due to discrepancy in the figures presented.

Ika North-east is the home area of the Vice-Presidential Candidate

of the Peoples Democratic Party (PDP) and Governor of Delta State, Dr. Ifeanyi Okowa.

Specifically, the Delta State INEC Collation Officer, Prof Abraham Georgewill Owuneri, noted that INEC could not accept the result for the local government area because the total number of accredited voters for the area was different from the number of votes

INEC Declares CUPP Spokesperson, Winner of Ideato Federal Constituency

Sunday Aborisade in Abuja

The Independent National Electoral Commission (INEC) yesterday declared the opposition spokesman, Ikenga Imo Ugochinyere of the Peoples Democratic Party (PDP) as the duly elected member of the House of Representatives for Ideato South and North federal constituency.

Ugochinyere in a swift reaction, however, dedicated his victory to his late uncle, Daniel Ikeagwuone, and two others who were murdered by suspect gunmen on January 14, 2023, in his Akokwa country home.

The CUPP spokesperson, who spoke on the result announced yesterday by the INEC Returning Officer for Ideato North and South federal constituency, Mr. Onwuachu Chinyere, polled a total of 13,026 votes to floor his closest rival in the election and the Labour Party (LP) candidate, Hon Pascal Obim, who scored 5,696 votes.

The candidate of the All Progressives Congress, Mr. Chika Abazu, polled 2,368 votes in the election.

In his reaction, Ugochinyere thanked God for his victory despite “all evil machinations by state sponsored agents to deny him his well-deserved victory.

INEC Postpones Announcement of Election Results in C’ River The Independent National Electoral Commission, (INEC) has postponed the announcement of election results in Cross River to 10am today, February, 27.

This was disclosed by INEC’S Resident Electoral Commissioner, (REC) for Cross River, Prof. Gabriel Yomere, yesterday night at about 9 pm at the state collation centre in Calabar.

According to him, the postponement was due to the fact that they have received the result of only Etung Local Government Area, out of the 18 LGAs in the state.

The News Agency of Nigeria (NAN) reports that the postponement was the second time yesterday due to the lack of results coming in from the 18 LGAs in the state.

The event, which was earlier

scheduled for 12 noon was postponed to 7 pm because no results had been received as at the time.

In an interview with journalists at the state collation in Calabar, Yomere said they were suppose to commence the collation by 7pm but at about 9pm only the result from Etung LGA was available for announcement.

“We all know that election continued till Sunday in some LGA’s in the state and in many of them especially from the northern part of Cross River collation was still on at the Ward level.

“Also, we all know that from Cross River North to Calabar takes about six to seven hours; by the time they finish the collation at the ward levels there, it would be about 12 midnight and they can only get to Calabar by 7am or 8am on Feb. 27.

reportedly cast.

According to the results presented by the Electoral Officer for Ika North-east, Dr James Olisa, the total number of accredited voters

at February 25, 2023 presidential election is 30,105 while the total number of votes cast is 31,681.

The local government area has 130,247 registered voters, he said,

adding that a total of 3,206 votes were rejected.

Nonetheless, the rejected result for Ika North-east had showed that Governor Okowa’s party had

won the election in the area with a total of 16,696 votes, Labour Party (LP) secured 8,908 votes while the All Progressives Congress (APC) had 1,902 votes.

INEC Begins Collation of Presidential Results amidst Peaceful Protest in Imo The Independent National Electoral Commission (INEC) yesterday evening commenced the collation of presidential results from the 27 Local Government Areas of the state.

The collation commenced amidst a peaceful protest by the Labour Party and Ohaneze Youth Council, who alleged a compromise in the outcome of the National Assembly elections

conducted in Orlu Senatorial zone.

The State Collation Officer, Prof. Charles Esimone, flanked

by INEC’s Resident Electoral Commissioner (REC), Prof. Sylvia Agu, had declared the collation of presidential results open at about 6.30pm.

Esimone, who is presently the Vice Chancellor of Nnamdi Azikiwe University Awka, pledged to ensure a transparent collation

exercise.

The News Agency of Nigeria (NAN) reported that as at the time of report, nine Local Government Areas have so far been collated and announced by the various collation officers before embarking on break as at 10:10pm.

The Local Government Areas included Isiala Mbano, Isu, Nwangele, Ideato South, Ideato North, Nkwerre, Orsu,

Owerri North and Ikeduru Local Government Areas.

However, shortly before commencement of the exercise, the National Vice Chairman of Labour Party, South-east, Mr. Innocent Okeke, submitted a protest letter to INEC. Okeke told newsmen in an interview that the protest letter was against “the anomaly that we witnessed during the election.”

2023 Polls: Religious Leaders, Monarchs Call for Calm as INEC Collates Results Religious and traditional leaders in Kaduna State have called on Nigerians to remain calm as the Independent National Electoral Commission (INEC) continues with the collation of the results of Saturday’s Presidential and National Assembly Elections.

The Co-executive Directors of Interfaith Mediation Centre,

Kaduna, Sheik Nuraini Ashafa, and James Wuye, a pastor, made the call in an interview with newsmen in Kaduna yesterday.

He appealed to candidates in the elections and their supporters to accept the election results in good faith for the peace and stability of the country.

He further appealed to Nigerians to unite and make the country a better place for all.

The clergymen admonished every Nigerian to be peaceful and live harmoniously with one another to save the country from avoidable anarchy.

“We call on all and sundry to eschew all forms of violence due

to the outcomes of the elections and embrace each other in an atmosphere that will enable us to live in peace,” they said.

Ashafa and James also advised people to celebrate cautiously to avoid infringing on the rights of others or protest against the outcomes to the detriment of others.

Labour Party Wins Eti-Osa Federal Constituency in Lagos having satisfied the requirement New Nigeria Peoples Party, The Independent National at the Collation Centre.

Electoral Commission (INEC) has declared Mr. Thaddeus Attah of the Labour Party (LP) as winner of the Eti-Osa Federal Constituency seat in the House of Representatives.

Prof Funmilayo Odukoya, who is the INEC Returning Officer, made the declaration yesterday

Attah won with 24,075 votes, beating his counterparts, Mr Olubankole Wellington (Banky W) of the Peoples Democratic Party (PDP), who had 18,666 votes, and Mr Babjide Obanikoro of the APC, who had 16, 901 votes.

“That Thaddeus Attah of LP,

of the law is hereby declared winner and is returned elected; signed by me. Thank you so much, “ Odukoya said She said that other candidates received the following votes: Mr Oladehin Olufemi, African Democratic Congress, 1,422 votes; Mr Azeez Kabirat of

414 votes, and Mr Olasunkanmi Ololade, Social Democratic Party, 207 votes.

Earlier, there was pandemonium between the party agents and INEC officers over the authenticity of the result, even before it was declared by the presiding officer.

Gen Abdulsalami’s Brother Loses House of Reps Seat in Minna Laleye Dipo in Minna The half-brother of Nigerian former military Head of State, General Abdulsalami Abubakar (rtd), Ado Abdulsalami, has lost his bid to represent his people in the National Assembly.

Ado, who contested for the Chanchaga federal constituency seat, which is being vacated by the All Progressives Congress APC governorship candidate, Umar Mohammed Bago, lost to the Peoples Democratic Party (PDP) candidate Mallam Cashier, who contested for the

position for the third time since 2015.

Cashier, a retired civil servant, polled 35,688 votes to defeat Ado, who had 19,282 votes.

Speaking to journalists after the declaration of the result, Malam Cashier gave

glory to God for making him victorious, and pledged to serve the people effectively.

Meanwhile the Independent National Electoral Commission (INEC) has opened an election collation centre for the collation of results from yesterday’s election in the state.

Jimoh Ibrahim Defeats former Deputy Gov. Ajayi, to win Ondo South Senatorial Seat Senatorial Candidate for Ondo South of All Progressives Congress (APC), Jimoh Ibrahim, has emerged winner of Saturdays general election.

The News Agency of Nigeria (NAN) reported that Ibrahim polled 110,665 votes to defeat

his main rival, former deputy governor, Agboola Ajayi of Peoples Democratic Party (PDP) who scored 65,784 votes.

The Independent National Electoral Commission (INEC) Returning Officer, Prof. Johnson Fashimilehin,

yesterday in Okitipupa declared Ibrahim winner of the poll.

“Having polled the highest number of votes of 110, 665 against 65,784, I hereby declare Ibrahim of APC winner of the election in Ondo South

“I Prof. Fashimilehin by the power conferred on me as the INEC’s Returning Officer for this election and having satisfied the highest number of votes, I hereby declare Ibrahim returned as elected,” Fashimilehin said.

39

MONDAY, ͺͿ˜ ͺ͸ͺͻ ˾ T H I S D AY

MONDAYSPORTS

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

0811 181 3083 SMS ONLY

Carabao Cup: Man United Claim First Trophy in Six Years

Manchester United yesterday evening claimed their first trophy since 2017 with victory over Newcastle United in the Carabao Cup final at Wembley.

Newcastle's own wait for silverware, stretching back to 1969, goes on after two goals inside six minutes in the first half established Manchester United's superiority and set them on their way to a first success under manager Erik ten Hag. Casemiro broke the deadlock after 33 minutes when he headed home Luke Shaw's free-kick.

His side doubled their advantage after Sven Botman deflected Marcus Rashford's shot out of the reach of Newcastle's debutant keeper Loris Karius, deputising for the suspended Nick Pope.

Newcastle attempted to rally in the second half, but the goals dried up at the wrong time for Eddie Howe's men.

It meant Manchester United were back in the honours after last tasting success six years ago

when lifting the Europa League under Jose Mourinho, and also winning this competition in the same campaign.

United's renaissance under Ten Hag now has tangible reward in the shape of a trophy, with the power to add more this season.

The Dutchman's strong

leadership and tactical acumen has transformed them since that nightmare opening to the season when they lost at home to Brighton and shipped four first-half goals in a humiliating loss at Brentford.

The arrival of the outstanding Casemiro, the superb develop-

ment of the combative Lisandro Martinez and Rashford's rejuvenation have helped to make the Old Trafford outfit a serious proposition again.

They were not at their best, but once they took control of this final they did not let Newcastle back in - and this was very much

a case of mission accomplished.

At the heart of it all was Casemiro, a genuinely transformative acquisition. The Brazilian not only made the crucial contribution with the opening goal, but stamped his years of trophy-winning experience with Real Madrid

all over this showpiece with his expert positioning and authority.

It will also increase the growing belief that Ten Hag is the manager who will move Manchester United forward and out of the wilderness that had engulfed them before his arrival at the start of the season.

Moffi Scores Brace as Nice Beat Monaco French Ligue one side OGC Nice recorded a resounding victory over rival AS Monaco yesterday with Nigeria’s Super Eagles forward, Terem Moffi, making all the headlines.

The host started the game on the front foot but it was Nice that netted the opening goal in the 8th minute through Moffi.

He completed his brace with a well-taken goal in the 26th minute before Thuram sealed the game in the 43rd minute.

Moffi almost score a hat trick in the second half before he was replaced in the 81st minute by Brahimi.

The win took Nice to 7th position with 41 points in 25 matches.

Manchester United players celebrating ending their six-year trophy-less seasons with the Carabao Cup victory against Newcastle United on Sunday evening

FIFA ‘Best Award’: Messi Tipped as Mbappe, Benzema Wait in the Wing Femi Solaja Just like in the World Cup final, PSG teammates Lionel Messi and Kylian Mbappe will

Lacklustre Inter Falter in Chase of Osimhen’s Napoli A toothless attacking display from Inter Milan saw them beaten 1-0 by Bologna yesterday as Riccardo Orsolini scored to give the hosts all three points.

The Nerazzurri had four shots on target without scoring at Stadio Renato Dall'Ara as Napoli's charge towards a first Serie A title in more than two decades received yet another boost.

Musa Barrow saw an early goal disallowed for offside, though it would matter little as Orsolini fired home a 76th-minute winner to clinch victory and put another dent in Inter's already slim title hopes.

With an 18-point deficit to overturn, catching runaway leaders Napoli now looks a hugely improbable prospect for Inter and they may now have to focus on fending off the likes of Roma and Milan for second spot.

Bologna thought they were ahead after 12 minutes through a fine finish from Barrow, but

a VAR review ruled the offside Nicolas Dominguez as having blocked Andre Onana's view.

The hosts continued to look the more threatening as Roberto Soriano hit the crossbar, though Lautaro Martinez should have done better when he sent a free header wide of the post.

tonight go up against one another for The Best FIFA Men's Player prize with Ballon d'Or Karim Benzema the other contender.

The ceremony takes place in Paris, and Messi appears as the favourite to add another individual gong to his collection after leading Argentina to glory over Mbappe's France in that epic encounter in Qatar.

Messi has won the Ballon d'Or seven times and claimed the FIFA award inaugurated in 2016 following FIFA's split with Ballon d'Or organisers France Football –- once in 2019.

In the last two years Messi has made the podium as Robert Lewandowski has won the

title, but the 35-year-old's career-crowning World Cup triumph was the defining moment of 2022.

The winner is decided by a jury comprised of the coach and captain of every Men's national team and one journalist from each country, but fans can also vote.

Mbappe became the first player to score a World Cup final hat-rick since Geoff Hurst in 1966 as he dragged France to a 3-3 draw after extra time despite two goals by Messi – before they eventually succumbed in a shoot-out.

Mbappe, who turned 24 just after the final, was the tournament's top scorer with

eight goals, one more than Messi, who claimed the Golden Ball for best player.

He was also comfortably PSG's most important player in the year leading up to the World Cup, despite being joined there by Messi – he was Ligue 1's leading scorer and France's player of the year.

However, their World Cup achievements overshadow everything else.

"Because Messi won the World Cup he has the biggest chance of winning, that's a fact," admitted Ruud Gullit, himself a former Ballon d'Or winner.

Dutchman Gullit was speaking in his role as a

member of the Laureus Academy, which recently included Mbappe and Messi among the nominees for their own awards.

Benzema's chances of winning another individual honour were hit after he missed the World Cup due to injury.

The Real Madrid striker, now 35, scored 44 goals in 46 games for his club last season, inspiring them to glory in the Champions League and LaLiga.

Current Ballon d'Or Alexia Putellas, who won the Best award last year, is again nominated for the women's prize, despite being out since July with a knee injury.

Agbalaka Targets U20 W’Cup Ticket with Flying Eagles Two-consecutive ‘Man of the Match’ winner, at the on-going U-20 African Cup of Nations tournament, Solomon Agbalaka, is already looking beyond the euphoria of Flying Eagles’ qualification into the next round but wants the FIFA World Cup ticket.

The Nigerian team had enjoyed unbeaten run in the build-up to the tournament but their campaign was caused a set back by Junior Lions of Senegal in the opening match of the

Group and the team is back in the grove now.

Following Nigeria’s 2-0 victory over Mozambique on Saturday, the Broad City FC versatile defender who was again named the Man of the Match for the second time in the competition sees the team winning one of the continental tickets to the next U-21 World Cup finals in Indonesia.

Samson Lawal and Ibrahim Muhammad scored two screamers to give the record

champions their second victory of the tournament after the lone goal win against host, Egypt earlier in the week.

"I'm happy to be named the Man of the Match for the second time running. It was a good performance and we needed to win and qualify for the quarter-finals of the tournament," the defender said.

"Our objective is to book a place in the semi-finals which will qualify us to the FIFA U-20 World Cup. We played well

and scored good goals today so we will keep improving in the matches to come," he remarked after the match on Saturday.

Nigeria will face Uganda in quarter-finals at the Suez Canal Stadium in Ismailia on Thursday. They were paired after the draw of a lot last night.

Meanwhile Team’s coach, Ladan Bosso, has tasked the lads to remain focus especially now that they have their fate in hand in the crucial knockout phase of the tournament.

"We came to Egypt with the mindset of picking one of the tickets to the FIFA U-20 World Cup and the victory against Mozambique is something that we planned," Bosso said.

"We worked for it. We have seen them play about two matches in Cairo.

"We tried to rush them and we did just that and got our two goals in the first half. The second half we introduced other players preparing them for the next stage."

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MISSILE IPI to Federal Govt

“We call on the Nigerian authority to provide security for media houses and ensure the security of Journalists. Rather than resort to self-help, anyone aggrieved by reports published or aired by any media houses should approach the court to seek redress. Indiscriminate attacks on media houses will lead to anarchy. This is the more reason that attacks on the radio and television stations in Port-Harcourt should promptly be investigated”– International Peace Institute, Nigeria, President, Musikilu Mojeed, condemns attack on Radio and TV stations in Rivers State.

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MAHMUDJEGA VIEW FROM THE GALLERY

I

Tricks While We Wait

n 1940, at the height of the Battle of Britain during World War Two, BBC started a daytime radio programme of continuous live popular music called Music While You Work. It was meant to ameliorate the stress of factory workers monotonously engaged in war production. The stress from waiting for results from last Saturday’s presidential election is as unbearable as the Brits’. Everyone is asking everyone else for any piece of election results, which makes it a boom market for fake news, concocted results and selective posting of results. Maybe there are music programs on some radio channels designed to ease the wait, but too many people are too engrossed with the search for results on social media to have much time for music.

In my cumulative 13 years as editor of four different newspapers, I knew that an editor dreads the period between voting and release of election results.

Since Nigerian elections usually hold on Saturdays, the editor of a Saturday paper has his job cut out for him. His or her banner headline could be, “All set for today’s polls,” “Nigerians elect a new President today” or, if the editor wants to be cheeky, the headline could be, “Fear of violence could mar today’s polls.”

The editor of a Sunday paper has a much trickier task. Reporters spend most of their election day reporting on hitches such as late arrival of election materials, violence at some polling booths, low or high turnout of voters, glitch in card reader or BVAS etc. Radio, television and online newspapers are best placed to report these as they happen but by Sunday morning, these are stale news for a newspaper. All that readers want to hear are the election results, and most of these are usually not available by the time an editor has to sign off his newspaper at, latest, midnight. That is because you have to give time for the printers to print the paper, for the circulation people to roll and pack them for distribution to various locations, for drivers to deliver them to those cities and towns, for the distribution agents to unroll and hand them over to vendors, and for the vendors to hit the streets.

If the news is big enough however, an editor could wait. During my days as editor of New Nigerian, I often waited until 3am when negotiations were going on between government and NLC leaders to call off a strike over fuel price increase. During the American presidential elections of 2008, when I was editor of Daily Trust, I held on to the paper until 5am when California’s

INEC Chairman, Yakubu

result would come in and finally confirm Barack Obama’s historic victory. On a day like that I didn’t bother about hitting the streets early because, from my office window, I saw nearly 100 vendors massed at the gate, waiting for the newspaper. Same thing happened the night President Umaru Yar’adua died in 2010.

An editor is lucky if something unusual happens on election day. Probably the most dramatic event of last Saturday’s poll was President Muhammadu Buhari openly displaying his ballot paper, in violation of the spirit, if not the letter, of the Electoral Act which mandates secrecy in voting. INEC even banned voters from carrying their phones into the polling booth, lest they photograph their ballot paper. This was apparently done as part of measures to prevent vote buying, because a voter who collected money or other gratification from a party agent must show proof that he voted for the agent’s candidate. Now, if INEC does not want a voter to display his ballot paper even outside the polling booth, imagine what it thinks of a voter displaying his ballot paper right inside the booth.

Trouble is, President Buhari could not be arrested for electoral offences because he has constitutional immunity from arrest and prosecution. He also did it for a very important political reason.

Most APC members were suspicious of him, especially the circle closest to APC presidential candidate Asiwaju Bola

Tinubu. If he had not displayed that ballot paper, millions of APC members will never believe that Buhari voted for Tinubu. The biggest reason for the suspicion is the currency change [or currency confiscation, as Chairman of the Nigeria Governors Forum Aminu Tambuwal called it, because CBN took N2 trillion from Nigerians and printed only N400 billion]. Whether Buhari’s act of displaying his ballot paper will earn him forgiveness from his party members is doubtful because, by some calculations, currency swap cost APC millions of votes all over the country.

Following Buhari’s example, Attorney General of the Federation and Minister of Justice Abubakar Malami also displayed his ballot paper after voting in Birnin Kebbi. For the same reason; as the chief legal defender of the cashless policy at the Supreme Court, many APC members believe he was part of the anti-Tinubu plot because he did not get to fulfill his governorship ambition and Tinubu did not nominate him as running mate. So he had a compelling political reason, but it was very odd indeed that the Attorney General should violate the electoral law. Unlike the president, he has no immunity from prosecution, so will he be tried for election malpractice?

Before Buhari, I had experienced this ballot-revealing trick on two previous occasions in my life. In 1980 when I was an electoral officer in a students’ union election, a friend of mine picked his ballot paper, pretended to be confused, walked up to me, asked an irrelevant question, then rapidly marked the ballot for a common friend of ours. He did that because he was under suspicion that he will not vote for our friend. Seven years later I had a similar experience in a local ASUU election. I was sitting at the back of the hall when a colleague picked his ballot paper, walked all the way to me, asked an irrelevant question, and then quickly thumb printed for our ASUU faction’s candidate. It was because, though a member of our faction, he was suspected of not supporting our faction’s candidate.

Despite the government’s persistent harangue over the years that we should “exercise our civic responsibilities” and vote in elections, casting a vote in Nigeria could be stressful. One needs a lot of motivation to withstand it. Having transferred my voter’s card to FCT last year, I had trouble finding my polling booth. INEC did send me the address. I drove to the place, parked my car and walked nearly two kilometres because the booth was overflowing with people. I could not find my name in the displayed list of voters. A man helpfully told me

that there were two other polling booths in the same estate, so I walked another kilometre to the next one. Luckily, I found my name there. I went there at 1pm, hoping that the crowd had reduced, but I was given number 490 on the queue. My heart sank when the next voter was called: number 151! It was a hot day. There was a canopy but all the men had surrendered it to the women.

Then, luck smiled at me. As I stood in the blazing sun, an INEC officer took one look at me and said I qualified to be listed among “elderly and disabled people” who were fast tracked. I was then given number 5 in that list and within ten minutes, I was called to come and vote. For the first time in my life, I was happy to discover that I am not a youth.

How long must we wait for official results from last Saturday’s election?

INEC was to start collation at noon on Sunday but knowing how cumbersome the process is, we will be lucky to have a final declaration by Tuesday evening.

Each polling unit must count its votes, which are collated at ward level, which are then collated at Local Government or Abuja Area Council level, and then collated at state level, before the State Collation Officer travels to Abuja to join a queue and personally submit it, on live television, to the Returning Officer Presidential Election, who is also the INEC Chairman. In 2019, the official declaration of winner was done on Wednesday morning. In 1979, 40 years earlier, Alhaji Shehu Shagari was declared winner of the election at noon on the Thursday following the election on Saturday. I therefore wrote an article in 2019 saying we gained only 30 hours in 40 years despite the coming of more roads and airports, computers, mobile phones and the internet.

In Nigeria, before the announcement of official results, how do we know who is winning and who is losing?

In other climes it is when the losing candidate picks up his phone, calls the winner and concedes. In Nigeria, the historic 2015 example of President Jonathan was probably a one-off. Here, when you hear a political party alleging rigging, complaining that INEC is not uploading the results on its portal fast enough, calling for cancellation of the election or, as one spokesman said on Sunday, “INEC should not create war in Nigeria because we are ready to die,” then it tells you something. Nobody is going to die, by God’s grace. Let’s start preparing for 2027 instead. How do we know who is winning an election here?

It is the candidate who keeps quiet.

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