WEDNESDAY 3RD MARCH03 2021

Nigeria Needs to Boost Food Reserves, Says Emefiele CBN considers ending OMO sale to foreign investors Bagudu, Fayemi commend apex bank James Emejo in Abuja and Nume Ekeghe in Lagos with agency report The Governor of the Central Bank of Nigeria (CBN), Mr.

Godwin Emefiele, yesterday warned against Nigeria repeating the mistakes of the past by neglecting agriculture.

He said the country should immediately start to

build its own food reserves, as the experience from the COVID-19 pandemic and the associated lockdowns globally had demonstrated that countries only export

out of their reserves.

The CBN governor spoke in Zauro, Kebbi State, during the launch of the 2020 wet season harvest aggregation and 2021 dry season input

distribution under the CBNRice Farmers’ Association of Nigeria (RIFAN) Anchor Borrowers’ Programme (ABP) as part of the fifth anniversary of the programme.

He said: "The rhetoric around neglect of previous years will remain part of our history and the best time to Continued on page 9

FG, China Finalise Financing Negotiations for Katsina-Maradi Rail Line, Others... Page 8 Wednesday 3 March, 2021 Vol 26. No 9460. Price: N250

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Stopping Short of a State of Emergency, FG Bans Mining and Flights over Zamfara Bandits offered money not to release abducted students, says Matawalle They threatened to kill us, freed schoolgirls narrate ordeals in captivity Deji Elumoye, Onyebuchi Ezigbo in Abuja and Francis Sardauna in Katsina President Muhammadu Buhari yesterday took bold steps towards addressing the worsening insecurity in the country with a directive to the service chiefs to immediately flush out all

Boko Haram terrorists in the North-east as well as bandits and kidnappers in different parts of the country.

Stopping short of declaring a state of emergency in Zamfara State as recommended by his security chiefs, Buhari also banned mining activities Continued on page 9

Military: Borno Town, Dikwa, Retaken from Boko Haram Michael Olugbode in Maiduguri

The military yesterday regained control of Dikwa, a rice-cultivating town in Borno State, after a fierce gun battle with Boko Haram insurgents who sacked the town on Monday.

The terrorists were said to have attacked the town, which hosts the United Nations humanitarian activities in

the state at 6 pm on Monday, before the military reinforced and dislodged them yesterday afternoon.

However, the UN Resident Humanitarian Coordinator in Nigeria, Mr. Edward Kallon, condemned the attack on the aid facilities, saying the ongoing siege on the town threatened the safety of 100,000 internally displaced persons Continued on page 10

STRATEGISING ON SECURITY...

L-R: Vice President Yemi Osinbajo; Chief of Defence Staff, Maj. Gen. Lucky Irabor; Chief of Army Staff, Maj. Gen. Ibrahim Attahiru; and Chief of the Air Staff, Air Marshal Isiaka Amao, during the National Security Council meeting in Abuja…yesterday

With Arrival of COVID-19 Vaccines, FG Steps Up Vaccination Campaign... Page 5

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

With Arrival of COVID-19 Vaccines, FG Steps up Vaccination Campaign Delivery will enhance full reopening of economy, says Atiku

Chuks Okocha, Olawale Ajimotokan and Kasim Sumaina in Abuja The federal government yesterday stepped up campaigns towards the vaccination of Nigerians against COVID-19 just as it took delivery of 3.94 million doses of Oxford-AstraZeneca vaccines.

Chairman of the Presidential Task Force (PTF) on COVID-19, and Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, who took delivery of the vaccines, handed them over to the National Primary Healthcare Development Agency (NPHDA) and the National Agency for Food and Drugs Administration and Control (NAFDAC) for further processing.

He also rallied stakeholders such as traditional rulers, religious leaders, civil society organisations and the media, among others, to help propagate the message on why Nigerians should be vaccinated to all parts of the country.

Mustapha led other top government officials to take delivery of the NAFDACapproved vaccines, which arrived at the Nnamdi Azikiwe International Airport, Abuja, via an Emirates Airline.

Former Vice President Atiku Abubakar welcomed the arrival of the vaccines, saying that it will herald the full opening of the economy.

The vaccines, which arrived from India, were the first tranche of the 16 million doses expected under the COVAX arrangement.

Mustapha stated that the arrival of the AstraZeneca vaccines in the country marked a significant milestone in the national response to the COVID-19 pandemic in Nigeria.

He stated that for over one year, humanity has remained under the siege of a virus that has impacted lives, livelihood, destroyed economies, governance systems, medical services and socio-economic systems.

According to him, nations around the world have deployed enormous resources to tackle the virus which has seen a first wave and more virulent second wave.

He added that the pandemic has claimed over 2.5 million lives worldwide and still counting.

He said: “Prior to the vaccine phase, we had introduced and promoted the non-pharmaceutical interventions. These remain very valid measures to take under the infection prevention and control policy.

"I, therefore, urge all Nigerians to continue to comply with these measures even as we roll out the vaccines administration plan, which is expected to reach 70 per cent of our population between 2021 and 2022. Under the circumstances, it must continue to be NPIs + vaccines.”

Mustapha stated that the successful development of vaccines and the accelerated process for emergency authorisation have brought hope to humanity.

"Its arrival in Nigeria today has been made possible through purposeful leadership by His Excellency, the president, collaboration with domestic stakeholders, the international community and painstaking technical efforts to ensure that what we are offering Nigerians is safe and efficacious.

"Although this consignment of vaccines is just 3.924 million doses of the expected 16 million doses of the AstraZeneca vaccines from the COVAX facility, we are indeed grateful to the coalition that has made this possible for us to receive it," he said.

He assured Nigerians that the federal government will prioritise the administration of the vaccines in a strategically planned manner to meet the nation’s peculiar needs and cover its heroic health care workers who have sacrificed their all, including their lives, in the cause of caring for the rest of the citizenry.

He stated that the PTF,

working with the Federal Ministry of Health and the NPHCDA, will ensure transparency, efficiency and economy under the process.

"It is, therefore, important to assure all Nigerians that their turns for receiving the jab will come," he said.

Ahead of the full rollout, Mustapha urged "all stakeholders (traditional rulers, religious leaders, civil societies, respectable Nigerians, the media) to carry the message on the significance of being vaccinated to the grassroots and all segments of the society.

This is a fight for everyone."

At the ceremony, the Chairman of the Senate Committee on Primary Health Care, Senator Chuka Utazi, said: "We must ensure it gets to the most vulnerable.

We will ensure the right quality is given to Nigerians. Nigeria has confirmed its goodness and we must ensure the best."

The Minister of Information and Culture, Alhaji Lai Muhammed, called on

Nigerians to make themselves available for vaccination.

Also speaking, the Executive Director, NPHCDA, Dr. Faisal Shuaib, said only eligible population from 18 years and above, including pregnant women would be vaccinated.

He said that the vaccine rollout would be in four phases, starting with health workers, frontline workers, COVID-19 rapid response team, laboratory network, policemen, petrol station workers and strategic leaders.

The Managing Director for Country Programmes at GAVI, Thabani Maphosa, noted that the Vaccine Alliance viewed the delivery of the vaccines as a landmark moment for Nigeria to end the acute phase of the pandemic.

Also, the United Nations (UN) Resident Coordinator in Nigeria, Mr. Edward Kallon, said the delivery of the vaccines represented a major milestone for the COVAX facility in its efforts to deliver at least two billion doses of COVID-19

vaccines globally by the end of 2021.

He added that the vaccines have undergone rigorous regulatory processes at the global and country-level and have been deemed safe and effective.

Kallon said the arrival of the COVID-19 vaccine would enable the NPHCDA to commence the vaccination of Nigerians in priority groups, starting with frontline healthcare workers.

The World Health Organisation (WHO) Representative in Nigeria, Mr. Walter Mulombo, lauded the federal government for its participation in COVAX efforts and its commitment to protecting Nigerians against this pandemic.

Also the UNICEF Nigeria Country Representative, Mr. Peter Hawkins, said the arrival of the COVID-19 vaccines into Nigeria was critical in curbing the pandemic, noting that the only way out of the crisis is to ensure that vaccination is

available to all.

“After a year of disruptions due to the COVID-19 pandemic, today we celebrate the efforts being made in getting the vaccine to Nigeria," Hawkins said.

Meanwhile, former Vice President Atiku Abubakar has said the arrival of the vaccines will herald the full opening of the economy.

"I am gladdened at reports of the arrival in Abuja of 3.94 million doses of the OxfordAstraZeneca COVID-19 vaccine via the COVID-19 Vaccines Global Assess Facility, COVAX," Atiku said in a statement.

He said the vaccines would be a good starting point to begin the vaccination of Nigerians against the pandemic.

"I commend the federal government for this effort and hope that steps to procure more vaccines are underway. This will usher in the process of fully reopening our country and rebuilding our economy and the lives of our people," he said.

DISCUSSING ELECTORAL REFORMS...

L-R: INEC National Commissioners, Mr. Festus Okoye and Mrs. May Agbamuche Mbu; and INEC Chairman, Prof. Mahmood Yakubu, at a meeting of the joint Senate and House Committee on Independent National Electoral Commission and Electoral Matters in Abuja…yesterday julius atoi

Senate Concurs with House, Confirms Service Chiefs’ Appointments Banditry becoming an industry, says Lawan Deji Elumoye and Udora Orizu in Abuja The Senate yesterday concurred with the House of Representatives’ confirmation of President Muhammadu Buhari’s nomination of Maj. Gen. Lucky Irabor as Chief of Defence Staff (CDS).

Others confirmed are Maj. Gen. Ibrahim Attahiru, Chief of Army Staff; Rear Admiral Awwal Gambo, Chief of Naval Staff; and Air Vice Marshal Isiaka Alao, Chief of Air Staff.

The confirmation of the nominees followed the consideration of a report by the

Senate Committee on Defence during plenary.

Chairman of the Committee, Senator Aliyu Wamakko (APC, Sokoto North), in his presentation of the report, said the Joint Committee on Defence, Army, Navy and Air Force screened the four nominees and was satisfied with their qualifications, exposures, conduct, characters, experiences and general performances.

During the consideration of the report, Senator Jibrin Barau described the nominees as capable in tackling head-on the challenges presented by the insecurity in the country.

The Deputy Senate President, Senator Ovie Omo-Agege, said the change in military leadership became imperative in view of the heightening insecurity and banditry in the North-east, North-west and North-central.

He said: ''Mr. President, we are in very perilous times with insurgency in the North-east and banditry in the Northwest and North-central most especially. For so long, and indeed so many times on this floor, and on the floor of our sister chamber in the House of Representatives, there were serious agitations for changes

to be effected in the military leadership of the security agencies. ''Mr. President took his time and finally acceded to this request and agitation. In doing so, the president took his time to seek out the very best in the arms services. Mr. President, the intellect, the achievement and the exploits of these nominees are very well documented in this report.''

The nominees were, thereafter, confirmed by the Senate in a Committee of the Whole.

Shortly after the confirmation, the President of the Senate, Dr.

Ahmad Lawan, said banditry had become a thriving industry with many people benefitting from it.

According to him, the rising case of kidnapping by bandits is unacceptable and asked the service chiefs to stop it.

He urged the service chiefs to unravel those behind insecurity and assured them of the parliament's support in the discharge of their duties.

He said: “A situation whereby a group of people will go to a school and take over 300 students away on motorcycles is not acceptable.

Kidnapping without a trace is

not acceptable. Something has to be done because apparently, this is becoming an industry.

Some people are benefiting from this and we have to unravel who these people are and fight bandits and insurgents until we rescue our country.

“Let me also advise the service chiefs that there must be inter-agency cooperation.

The army and the air force are supposed to have complementary roles. We promise them, and indeed Nigerians, that we will support them in whatever way the parliament can.''

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FG, China Finalise Financing Negotiations for Katsina-Maradi Rail Line, Others World Bank seeks more transparent debt management

Emmanuel Addeh in Abuja The federal government is about concluding negotiations with China Exim Bank on the financing of some rail projects in the country, including the Katsina-Kano-Maradi line and the Ibadan-Kano rail line, among others.

However, a World Bank economist has raised the alarm that most African countries are in trouble because many debts were contracted in a non-transparent way, stressing that countries needed to strengthen capacity to manage the increasingly risky debt more transparently.

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said yesterday during the virtual opening ceremony of Nigeria Finance Online, co-hosted with the Nigerian Investment Promotion Commission (NIPC), that the projects were part of President Muhammadu Buhari's plan to boost infrastructural development.

The federal government had said recently that it earmarked N12.6 trillion for the construction of four standard gauge rail lines in different parts of the country in 2021, including the Kano-Katsina-Maradi border rail line.

Minister of Transportation, Hon. Rotimi Amaechi, said the projects, to be financed through budgetary and counterpart funding, were aimed at achieving intermodal transportation nationwide.

He listed the projects to include the construction of the 378km single-track standard gauge rail line traversing Kano– Katsina–Jibiya with a 20km extension to the commercial border town of Maradi in the Niger Republic and a branch line, Kano-Dutse, adding that they will be funded through foreign loans already being negotiated by Ahmed.

But speaking on the projects, Ahmed stated that aside from the $2.4 billion infrastructure company that has just been floated by the federal

government, the rail projects, which will be executed by the China Civil Engineering Construction Corporation (CCECC), will expand the economy and lift Nigerians out of poverty.

She said: “With respect to infrastructural development, there are several projects being executed within the country as we speak. We are currently at the final stage of negotiations with China Exim Bank for the financing of the Ibadan-Kano section of the Lagos rail line, which will significantly boost trade across Nigeria and in the continent of Africa.

“We are also at the final stage of negotiations of financing for another rail line for not just the Ibadan-Kano one but also the Lagos-Kano rail line which will significantly boost activities and an additional rail line that will pass through Katsina-Kano, going up to Maradi in Niger Republic to open up trade relations with our neighbours.

“Furthermore, the president recently approved the creation of a $2.4 billion infrastructure company which will accelerate the development of infrastructure in the country.”

Ahmed expressed pleasure that the Nigerian economy exited recession in the last quarter of 2020 with a Gross Domestic Product (GDP) growth of 0.11 per cent, after two consecutive sessions brought about by COVID-19.

She added that it is an indication that the policies and programmes that Buhari and his team put together are achieving the desired results.

She expressed the federal government’s commitment to ensuring that the economy continues on the current growth trajectory through the execution of various reform policies and strategies designed to stimulate and sustain its recovery.

She identified one of such policies as the Nigerian Economic Sustainability Plan (NESP), developed as a strategic response to COVID-19 challenges.

According to her, the policy

contributed to the recovery of the economy through the creation and deployment of financial stimulus package, provision of support for Micro, Small and Medium Enterprises and the creation of jobs.

The minister said the medium-term expenditure framework, the annual budget and more recently the Finance Act of 2020 had been deployed to support the economy in 2021.

She stated that for instance, the Finance Act of 2020 introduced over 80 amendments to 14 different laws, which are focused on fiscal incentives to stimulate the business and economic recovery and growth, stressing that the new law does not impose any new taxes.

Ahmed stated that Nigeria remains Africa’s largest

economy and also its choice destination on the continent for investors and development partners, adding that the federal government is working to fix the infrastructure gap and enhance the ease of doing business for investors.

In his comments, the World Bank Chief Economist, Africa, Dr. Albert Zeufack, said the taxation of land and property as a way of broadening the tax base instead of solely focusing on demand taxes like Value Added Taxes (VAT) or expanding the net to the informal sector, should be encouraged.

He added that most African countries are in trouble because many debts were contracted in a non-transparent way.

He stated that countries

needed to strengthen their capacity to manage the increasingly risky debt more transparently.

"For countries like Nigeria which are rich in extractives, managing commodity resource revenue more transparently is very key. We need to improve transparency, stem illicit financial flows and tax evasion. It’s not just about what debt can do.

"There are a number of policy reforms that can be done. On the expenditure side, there's a need to reprioritise and I am sure the government may be doing that. We need to improve efficiency, public investment management in a way to select those that have high returns,” he said.

Zeufack called for the strengthening of institutions

and investment in people to accelerate Africa's economic recovery, saying that in Sub-Saharan Africa, digital infrastructure is still weak.

Also speaking, the Director of Monetary Policy, Central Bank of Nigeria (CBN), Dr Hassan Mahmud, stated that to achieve growth, the bank was working to get a stable exchange rate, interest rates and others.

He explained that although the exchange rate was outside the control of the CBN, tools were being deployed to manage price and monetary stability.

Mahmud stated that the bank was aware that inflation could wipe out the incomes of Nigerians, adding that inflation numbers are critical to the CBN's monetary policy mandate.

FRIENDSHIP WITH POLAND...

L-R: Ambassador Extraordinary and Plenipotentiary of the Republic of Poland to Nigeria, Ms. Joanna Tarnawska (left), and Lagos State Governor, Mr. Babajide Sanwo-Olu, during the ambassador’s courtesy visit to the governor in Lagos…yesterday

SEC Raises the Alarm over Rise in Ponzi Schemes Ndubuisi Francis in Abuja

The Securities and Exchange Commission (SEC) yesterday expressed concerns over the proliferation of Ponzi schemes in Nigeria owing to the devastating impact of the COVID-19 pandemic, the low-interest rate environment as well as the increased use of online services for interaction and transactions.

It described the continued activities of such schemes as a threat to the protection of investors, the functioning of a fair and orderly financial market as well as the development of the economy.

SEC Director-General, Mr. Lamido Yuguda, said at a webinar organised by the Attorney-General AllianceAfrica in collaboration with the commission, that Ponzi scheme

operators had capitalised on the harsh economic climate to offer unrealistic returns on investment to unsuspecting investors.

He added that the illegal operators are able to solicit new investors and expand their operations through the increased use of online services.

He, however, stated that the SEC has a statutory duty to promote investor education and the training of persons in the capital market, adding that the webinar was organised in furtherance of that statutory mandate.

He said: “This capacity building programme will afford participants the opportunity to learn contemporary and innovative ways of combating and curbing the menace of Ponzi schemes in Nigeria.

“I believe the knowledge

gathered from this programme will provide participants with new ways of approaching, assessing and tackling the growing problem of Ponzi schemes.”

He described the theme of the programme as apt and its organisation timely, in view of the contemporary challenges confronting the Nigerian financial sector and its regulators, by the activities of Ponzi schemes.

Yuguda stated that the pervasiveness of Ponzi schemes undermines regulatory efforts in developing the capital market, and also negatively impacts on investor confidence.

According to him, Ponzi schemes operate with unsustainable operating models that ultimately lead to huge losses for investors.

He recalled that following

the collapse of the MMM Ponzi scheme, the Nigerian Deposit Insurance Corporation (NDIC) had estimated that over three million Nigerians lost about N18 billion, while other illegal investment schemes have cost Nigerians their assets and life savings.

The commission’s efforts in addressing Ponzi schemes, he said, were, therefore, geared towards investor protection and preserving market integrity.

He assured the gathering that the SEC will continue to apply innovative measures to combat the activities of Ponzi schemes while seeking the cooperation of stakeholders.

In his remarks, AGA-Africa Board member, Mr. Markus Green, stated that due to the COVID-19 pandemic, businesses are operated online with criminals taking advantage to

attract people to Ponzi schemes.

He added that the webinar is timely in order to build capacity on how to track these schemes, apprehend the perpetrators and prosecute them.

He said: “We bring in experts from the United States to combine with others in Africa for training on these activities and how to curb them.

COVID-19 has changed the way we do business but it has not stopped us from our work.”

Also speaking, the AttorneyGeneral of the Federation and Minister of Justice, Mr. Abubakar Malami, said there was no underlying investment for Ponzi schemes, adding that they can never deliver the returns on investment as promised.

Malami stated that they are fundamentally different from legitimate investment

opportunities, as the perpetrators are simply fraudsters who take advantage of even the wealthy, intelligent, and sophisticated people.

He described the perpetrators as people who are usually good at what they do and thrive on trust and friendship promising easy cash in the short term and financial succour to the naive.

He stated that a Ponzi scheme is an operational, social and economic risk.

"The fight against it is now a war, and in fact a full-blown war. It is everywhere, not peculiar to us," he added.

Malami said the nation had laws to punish those offenders, adding that the government is doing its best to tackle economic problems and is committed to lifting Nigerians from poverty through some incentive-based loans and other programmes.

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PAGE NINE STOPPING SHORT OF A STATE OF EMERGENCY, FG BANS MINING AND FLIGHTS OVER ZAMFARA in the new ground zero of banditary, kidnappings and abductions. And declared the state a no-fly zone, asking the security chiefs to go after nonstate actors causing trouble in the country.

National Security Adviser (NSA), Maj. Gen. Babagana Monguno (rtd), announced the raft of measures ordered by the president to contain the security crisis on a day the pupils of Government Girls Secondary School, Jangebe, Zamfara State, abducted last Friday, regained freedom.

The state Governor, Mr. Bello Matawalle, broke the news of the release of the 279 schoolgirls in a dawn tweet.

He described the abduction as politically motivated, adding that the sponsors offered money to the bandits to sabotage the negotiation by the state government for the release of the girls.

Some of the 279 girls also recounted their ordeals in captivity.

The marching orders to the service chiefs formed the major decision taken at the National Security Council (NSC) meeting presided over by Buhari in Abuja.

Monguno, who briefed journalists at the end of the closed-door meeting that lasted for five hours, stated that the meeting also resolved to clamp down on individuals and bodies sponsoring crisis nationwide to undermine the unity of the nation.

He added that the security challenges facing Zamfara State also received the attention of the council with the state being declared a no-fly zone while mining, suspected to be one of the major drivers of insecurity in the state, has been banned indefinitely.

According to him, the president, through the Minister of Defence, Maj. Gen. Bashir Magashi (rtd), ordered the service chiefs to reclaim all areas that have been dominated by bandits, kidnappers and other non-state actors.

He said: "In doing so, I've also asked all the intelligence

agencies to collapse all their efforts onto one platform so that with the convergence of efforts, we will be able to give the required intelligence to the operational elements of government.

"Given the fact that we have a new organisation with new service chiefs, the president has charged all of us to redouble our efforts, especially in view of the occurrences of the last couple of weeks. The predominant issues raising concern for the entire nation remain kidnapping, banditry, and of course terrorism in the north eastern part of the country.

“Apart from that, we've also had issues with farmers and herders, which have also resulted in some unpleasant ethnic situations."

Monguno stated that the meeting expressed concern over the activities of some Nigerians promoting disunity by sponsoring crisis and that the federal government has decided to clamp down on them.

He added that those individuals on the government security watch list will now be hounded and prosecuted forthwith.

The NSA said the president had asked the security chiefs to go after suspects on the watch list.

Monguno said: "I need to stress also that there are individuals in this country who have assumed a status that is beyond what they should be.

The intelligence from our own sources, the intelligence at my disposal and the disposal of the other intelligence agencies, reveals that we have certain entities, certain individuals who are making capital out of insecurity, especially kidnapping.

"This is a situation that has to be brought to an end and I'm sending a warning to anybody who is hiding beneath a veneer of some status, whether official, in terms of an official capacity or traditional or religious, to stoke the flames of disorder will have himself to blame.

The government is very serious about this.

“As I said, we're drifting into

a situation that we can no longer afford to lose lives. We are not going to be blackmailed; we're going to use whatever is at our disposal, while operating within the confines of legitimacy, within the confines of legality. But the government has a responsibility to assert its will, using the instruments at its disposal to keep the state moving, alive, happy in prosperity; this will not be compromised."

According to him, while the government is not averse to the application of non-kinetic means to resolve the security crisis, it will not hesitate to apply kinetic means to restore normalcy to the country.

"I'm sure you're all aware of the fact that no country will tolerate a group of non-state actors. No sovereign nation will allow a group of non-state actors to bring it down to its knees and render the state in the state of panic, apprehension, mistrust, disorder, and so on and so forth.

"Therefore, both the defence and intelligence organisations have been charged that while we look forward to having a peaceful, non-kinetic resolution, we will not allow this country to drift into state failure and with effect from today," he said.

The council, he stated, also declared Zamfara State air space a no-fly zone while all forms of mining are banned forthwith in the state due to the rising security challenges facing the state.

THISDAY gathered the declaration of no-fly zone means that aircraft will not be allowed to fly over Zamfara State.

Monguno said Buhari had directed him and Magashi to deploy the military and intelligence assets to restore normalcy to the state.

“He has also approved that Zamfara State should be declared a no-fly zone with immediate effect.

"Now all non-state actors that have been causing problems for the innocent peoples, not just in Zamfara State or the North-west zone, but also, the North-east and other parts of the country in the South-south, have been

placed under surveillance by the intelligence agencies, we've had a lot of reports coming in; collusion with people from all walks of life," he added.

Buhari Excited over Release of Schoolgirls Buhari had earlier yesterday expressed excitement over the release of the 279 abducted pupils of Government Girls Secondary School, Jangebe.

He also called on the police and the military to step up action towards arresting those who kidnapped the schoolgirls with a view to bringing them to justice.

The president, in a statement by his media assistant, Malam Garba Shehu, expressed overwhelming joy over the release of the abducted female students.

“I join the families and people of Zamfara State in welcoming and celebrating the release of these traumatised female students," he said.

Buhari said he was excited that their ordeal came to a happy end without any incident, adding that being held in captivity is an agonising experience not only for the victims but also their families and Nigerians.

However, while celebrating the release of the students, the president called for vigilance by the people so that human intelligence could be collected early enough to stop the bandits.

He warned that the time has come to stop the kidnapping.

“Ransom payments will continue to prosper kidnapping,” he warned, while urging the police and the military to go after kidnappers and bring them to justice.

Bandits Offered Money Not to Release Students, Says Matawalle

the negotiation by the state government for the release of the 297 schoolgirls.

Addressing the freed pupils yesterday at the Government House, Gusau, the governor said: “While the state was in negotiation with abductors for the release of the schoolgirls, other persons offered money to the bandits to keep the girls in captivity.”

He added that he had given the information to the police and other security agencies to investigate the matter.

He said the abduction of the schoolgirls was mysterious and politically motivated, vowing to expose the sponsors.

“The actual number of confirmed abduction from the school’s register was 279, not 317 as earlier said by the police,” he clarified.

The governor said the abduction gave him four sleepless nights as he worked round the clock to ensure the safe return of the girls.

“I didn’t sleep for four days.

We worked hard for days to ensure the safe return of the girls to their families. “(We are) using kinetic and non-kinetic approaches and the non-kinetic is working for us. If not, we wouldn’t have successfully negotiated the release of these girls,” the governor stated.

Matawalle added that the state did not pay any ransom for the release of the pupils.

Meanwhile, the state police command has promised to unravel those behind the abduction.

According to a statement yesterday by the command’s Public Relations Officer, Mr. Bello Shehu, a Superintendent of Police, detectives from the state CID, headed by the Deputy Commissioner of Police in charge of Investigation, have begun interrogating the pupils with a view to unravelling the circumstances behind their abduction.

Early yesterday, Zamfara State Governor, Mr. Bello Matawalle, accused some alleged sponsors of the abduction of offering money to the bandits to sabotage

They Threatened to Kill Us, Freed Victims Narrate Ordeals in

redeemed, Bloomberg quoted CBN’s Director of Monetary Policy, Mr. Hassan Mahmud, to have said in Abuja, in an interview aired during an online conference yesterday.

However, he didn’t give a time frame.

Though the sales helped to shore up the currency, the debt has become too burdensome to sustain as foreigners snapped up securities that offered to carry traders -- who borrow in low interest-rate markets to invest elsewhere -- returns of as much as 30 per cent in dollar terms in recent years.

The market for OMOs had grown to about $40 billion by the end of last year, according to Cairo-based investment bank EFG Hermes, with foreigners holding about a third.

The cost of liquidity management is getting too high and issuance of OMO bills should be a transaction between the central bank and commercial lenders, Mahmud said.

“It’s not supposed to be for the public, but along the line, the transition broke and investors who were non domestic were investing in OMO,” he said.

The central bank has reduced OMO issuance by 61 per cent in the first two months of 2021 compared with the same period last year, according to data compiled by Bloomberg.

OMOs, which have maturities of less than a year, were created to mop up excess liquidity in the banking system, but had

been opened to foreign investors to attract dollars since 2015 oil-market crash.

In October 2019, the central bank restricted OMO sales to banks and offshore investors, barring the participation of domestic institutional investors and non-banking firms.

That distorted the market for Nigeria’s short-term debt, with yields on treasury bills collapsing.

OMOs maturing in February 2022 yielded around 8.5 per cent yesterday, compared with three per cent for one-year treasury bills in the secondary market.

Repatriation of returns by offshore OMO holders have been putting pressure on the foreign exchange market, Mahmud said.

The central bank has settled more than $2 billion of OMOs to foreign investors, “but the pile-up is still more than that,” he said.

“The goal is to get that off, and if inflows are going to come, they should come in through the normal channels of the capital market,” Mahmud stated.

Moody’s Investors Service had warned as far back as 2019 that the cost of keeping the naira stable using OMOs would be prohibitive and leave the country vulnerable to outflows. Non-residents held $13.2 billion of the securities as of September, according to a fixed-income analyst at Chapel Hill Denham in Lagos, Omotola Abimbola.

It is unlikely that the central bank will increase lenders’ loan-

Captivity Some of the girls have shared their harrowing experience while in captivity, saying their abductors threatened to kill them.

The freed pupils, who looked weak, arrived Gusau, the state capital, around 4 am yesterday and were received by Matawalle; his wife, Aisha, and the heads of security agencies and other top government officials.

One of the freed victims, Hunainatu Abubakar, told THISDAY that the abductors threatened to rape them and also asked the captives to pray for them to be good citizens.

"They ridiculed us, called us many bad names, threatened to kill us and then later, they asked us to pray for them to be good citizens and that we should teach them English so that they could speak.

"We prayed for them but they said they did not have time to learn anything now. They also asked us for those who either came from Kaduna or their parents were police or soldier but those whose parents were security personnel refused to stand up.

"They also threatened to rape us but their leader, Kasalle, warned them against that.

They always added sand to our foods and only allowed us to dig for water with our fingers at a drying pond," she said.

On whether she would continue with her education, Hunainatu said she would go back to Kaduna where she came from and continue at a day school in order to fulfil her dream of becoming a lawyer.

"Some of the bandits even asked if we will marry them but none of us responded and so they said they would be looking for those with big eyes and kill them to which we all lowered our eyes," she stated.

Asked if she could trace the bandits’ hideout, Hunainatu said: "Though we were taken at night through the back of our school, l believe l can trace the location where we were taken and l can Continued on page 10

NIGERIA NEEDS TO BOOST FOOD RESERVES, SAYS EMEFIELE correct those mistakes is now and every stakeholder must contribute their quota to guarantee the realisation of these national targets."

Emefiele, however, called for support to sustain the current efforts of the apex bank to galvanise agricultural production towards meeting the requirements of the country's growing population.

He said the ABP, which is an essential part of President Muhammadu Buhari’s drive for economic diversification, had improved the fortunes of rural farmers as well as transformed agriculture into the potential for economic growth.

He said in the past five years, the scheme had recorded huge successes, learning points and challenges.

He, however, expressed optimism over the country's capacity to achieve food selfsufficiency.

According to him, the CBN and RIFAN have targeted to cultivate one million hectares of rice farms, which represented over 350 per cent increase from the 221,450 cultivated in 2020.

In addition, a total of 2,923,937 farmers cultivating 3,647,643 hectares across 21 commodities through 23 participating financial institutions have been financed in the 36 States of the federation, including the Federal Capital Territory (FCT), from inception till date.

The CBN has also financed 221,450 farmers for the cultivation of 221,450 hectares in

32 states under 2020 wet season partnership with RIFAN. Emefiele, however, stated that the partnership between the CBN and the Kebbi State government as well as RIFAN, was aimed at complementing the Economic Sustainability Plan of the current administration He said following Buhari's recent approval of the resuscitation of the Nigeria Commodity Exchange (NCX) and the commitment of N50 billion by the CBN and other stakeholders, the emergence of a vibrant commodity exchange would enhance post-harvest handling, guarantee effective pricing for farmers, minimise the adverse effect of middlemen and transfer the gains from primary production to other nodes of the value chain.

While also acknowledging the importance of loan repayment to the sustainability of the programme, the Emefiele said it was constantly engaging the farmers to enhance their trust in the system as well as provide a competitive price arrangement and facilitate effective market linkages for their outputs.

He explained that farmers will repay their loans in paddy for ease of repayment.

He added that to create value and transfer these gains along the value chain, the CBN has designated millers to off-take the paddies and track the release of outputs to the market as the bank strives to manage inflation and grow the rice value chain.

Also at the event, the

Kebbi State Governor, Senator Abubakar Bagudu, and his Ekiti State counterpart, Dr. Kayode Fayemi, who doubles as chairman, Nigerian Governors' Forum (NGF), commended Emefiele for the novel initiatives in reviving agriculture.

Bagudu said the policy had not only brought succour to the country in terms of food security and diversification but also helped the country to exit recession in two quick successions.

Fayemi also described the interventions as thinking outside the orthodox paradigm of growing the GDP. President, Rice Farmers Association of Nigeria (RIFAN), Alhaji Aminu Goronyo, expressed gratitude to Buhari for his vision that Nigeria must feed herself by producing what she eats and eat what she produces.

He added that the CBN governor had proven to the world that the agricultural revolution was doable

CBN Considers Ending OMO Sale to Foreign Investors Meanwhile, the CBN is preparing to end an era of debt sales that handed foreign investors one of the best returns in Africa.

Offerings to non-residents of Open Market Operations (OMO) bills are to be phased out once current obligations have been

to-deposit ratio, which is at 65 per cent until there is stability and signs of consolidation and economic growth, Mahmud said.

The CBN is also maintaining the forbearance given to lenders to restructure loans in the sectors affected by the pandemic.

Mahmud said: “We want this recovery to consolidate before we start reversing those things.

“Assessment is going on and the bank-examination report will determine whether some of those will be rolled over or not.”

TOP GAINERS ACADEMY PZCUSSONS ROYALEXCHANGE BETAGLASS REGENCY TOP LOSERS MBENEFITS ARDOVA CHAMPBREW

NGN NGN 0.04 0.45 0.45 5.25 0.02 0.27 4.00 54.00 0.02 0.28 NGN 0.04 0.36 1.80 16.25 0.22 2.05 INITSPLC 0.05 0.47 STERLBANK 0.14 1.46 HPE Nestle Nig Plc ₦1,450.00 Volume: 222.573 million shares Value: N5.390 billion Deals: 4,470 As at yesterday 2/3/2021 See details on Page 41

% 9.7 9.3 8.0 8.0 7.6 % 10 9.9 9.6 9.6 8.7

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WEDNESDAY, ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

UK Nominates Nigerian Lawyer, Akande, for UN Law Commission Emmanuel Addeh in Abuja The United Kingdom has selected Prof. Dapo Akande, as its candidate for the International Law Commission (ILC) for the period between 2023 and 2027.

The ILC is a body of experts responsible for helping develop and codify international law and is composed of 34 individuals recognised for their expertise and qualifications in international law, who are elected by the United Nations General Assembly (UNGA) every five years.

According to the country's Foreign Secretary, Mr. Dominic Raab, with over 25 years of legal experience, Akande is exceptionally well-qualified to serve as a member of the commission.

Akande originally qualified as a lawyer in Nigeria and is currently a professor of

Public International Law at the Blavatnik School of Government at the University of Oxford.

“I am pleased to nominate Prof. Dapo Akande as our candidate for the International Law Commission for the period 2023-2027. The UK has always been a strong supporter of the International Law Commission and is proud of the contribution that British international lawyers have made to its work.

“I believe that Prof. Akande is perfectly positioned to strengthen this contribution yet further. Not only is Prof.

Akande one of the finest legal scholars in the UK, he is also a world-renowned expert in public international law, as both an academic and independent practitioner,” Raab stated.

Akande is on the advisory or editorial boards of international law periodicals in Europe and Co-Director, Oxford Institute

Akande for Ethics, Law and Armed Conflict (2009 date) and Fellow at St Peter's College, then Exeter College, Oxford (2004 till date).

Previously, he was a lecturer in Public International Law, then Associate Professor (2004-2014); Co-Director, Oxford Martin Programme on Human Rights for Future

Generations (2013-2017) and Co-Director, Oxford University/ George Washington University Summer School on Human Rights Law (2007-2010).

Akande was a visiting professor to the University of Vienna (2018); Catolica Global School of Law, Lisbon (2014-2018); Sir Ninian Stephen Visiting Scholar, University of Melbourne Law School (2015); University of Miami School of Law (2000-2009) and Yale Law School (2008-2009).

In addition, he is a visiting lecturer to the United Nations Audiovisual Library of International Law (2011 till date); United Nations Regional Courses on International Law (2018 till date); Seoul Academy of International Law (Korean National Diplomatic Academy) (2018-2020) and Director, Nuremberg Summer Academy (2015).

He was a lecturer in law

at the University of Durham (2000-2004); the University of Nottingham (1998 2000); Supervisor in International Law, Christ College & Wolfson College, University of Cambridge (1996-1998) as well as being a Class Teacher and Research Assistant, London School of Economics and Political Science (1994 1998).

As part of his advisory work for international organisations and governments, at the United Nations, he held a Joint Opinion for United Nations Resident Coordinator in the State of Palestine (UNRC) (2017) and was a Consultant, UN Office of the Coordinator for Humanitarian Affairs (OCHA) on the law relating to humanitarian relief operations in armed conflict situations (2013-16).

Added to that, Akande was Adviser, UN Special Rapporteur on Extrajudicial

Executions for report to UN General Assembly on “Drones, Right to Life, Targeted Killings” (2014).

In the African Union, he was a member, Technical Working Group, Advisory Opinion from the International Court of Justice on Immunity of Heads of States (2018-19) and was Consultant, Advisory Opinion from the International Court of Justice on Immunity of Heads of States (2013).

Akande was also Consultant, Review of the Statute of the International Criminal Court (2009) and African Comprehensive Anti-Terrorism Model Law (2005-06).

He was also Joint Opinion for Secretary-General, Organisation of American States on an issue before the International Criminal Court (2020) and Adviser to the United Nations Food and Agriculture.

NLC Plans Protest over Bid to Decentralise Minimum Wage Negotiation Threatens to picket fuel stations over hoarding Onyebuchi Ezigbo in Abuja The organised labour is planning a national demonstration to protest plans by the National Assembly to decentralise minimum wage negotiations.

The protest, to hold on March 10, followed the ongoing efforts to transfer the national minimum wage from the exclusive list to the concurrent legislative list.

The labour movement also frowned on the ongoing fuel scarcity in the country, threatening to picket petrol

stations hoarding petroleum products.

These decisions were taken yesterday at an emergency National Executive Council (NEC) meeting of the Nigeria Labour Congress (NLC) in Abuja.

NLC President, Dr. Ayuba Wabba, told reporters after the meeting that the attention of workers had been drawn to a bill sponsored by Hon. Garba Datti Mohammed, a member of the National Assembly representing Sabon Gari Federal Constituency in Kaduna State, which seeks to

move the national minimum wage from the exclusive list to the concurrent list in the 1999 Constitution, as amended.

He said the NLC also rejected another bill to establish State Judicial Councils.

Wabba said the NLC viewed the moves to decentralise the minimum wage negotiations as politically motivated.

"After careful deliberations of the issues, the NEC decided that there will be a national protest commencing from March 10 in the Federal Capital Territory (FCT) and especially the National Assembly. NEC

resolved that the protest will be concurrently held in all the 36 states of the federation and to the different state Houses of Assembly across Nigeria," he added.

He said the protest was to make a strong statement that Nigerian workers "would not allow hard-fought rights, which are global standards, to be bastardised by opportunistic and narrowminded politicians."

He stated that apart from creating minimum wage variations across states, it will introduce politics into

the wage determination and negate the collective bargaining principle.

"It will lead to a hostile industrial space with diminished productivity and national security implications.

"In the light of the foregoing, the NEC called on President Muhammadu Buhari not to allow fifth columnists masquerading as politicians to derail his government by railroading the legislature into removing the national minimum wage from the exclusive list to the concurrent list," he said.

Wabba added that the NEC has empowered the NLC leadership to work with the Trade Union Congress (TUC) to actualise workers' objective in this direction.

He also expressed concern about the hoarding of petroleum products, which is causing a scarcity in major cities.

"The NEC warned that should the current artificial scarcity persists, that the various leadership structures of the NLC should picket petrol stations found to be inflicting pains on Nigerians," he stated.

STOPPING SHORT OF A STATE OF EMERGENCY, FG BANS MINING AND FLIGHTS OVER ZAMFARA still remember their faces if l see any of them."

According to her, one of the pupils also saw her father who was kidnapped over three months ago but the man cautioned her against disclosing their relationship to avoid one of them being killed.

She said most of them returned with wounds and swollen legs because they were asked to leave their shoes on the day of the kidnap and that they slept in the open while in captivity.

According to her, they also went into hiding along with

the criminals when they heard the sounds of helicopters on search-and-rescue mission.

Another victim, Hafsat Anka, stated that their abductors threatened to kill, fry and eat them if they misbehaved.

Hafsat said they trekked over a long distance from the school before they reached their destination.

“There was no clean water or good food, and we felt we had already spent years even though it was our first day and the bandits kept firing into the air to scare us.

“They were very young

boys with one elder they called Kasalle or Yaya who gave them instructions, and he was the one that stopped them from touching any of us,” Hafsat stated.

According to her, the bandits wore military uniforms and claimed they defeated the security officials by invading the school and successfully abducting them.

Another victim, Hafsatu Hamza, said: “They kept us in a deep hole littered with excreta. That's where we live and sleep. We were earnestly praying and waiting on God.

Those that abducted us are Hausa men, and they are Muslims. They do pray but they do not allow us to pray."

Hafsatu, a SSS 2 pupil, added: "They took us along mountainous paths and trees asking us to run. We ran to the extent our legs sustained bruises and some even had dislocations.

They asked me to remove my head tie for them to tie my leg with but l refused. They even threatened to cut off my leg and kill me but l still insisted."

Another student, 14-year-old Amina Sogiji, while narrating her ordeal said: “The day we

were kidnapped, we walked through the forest from 2.30 am till around 7 pm to the thicker forest where the bandits hide us in a deep hole located in the forest.

“We suffered so much in the hands of the kidnappers. I have never experienced such in my life. In fact, I thought I was dreaming because the torture was too much for us. I am happy now that we have been freed. We thank our governor and security agencies."

Meanwhile, one of the parents, Mr. Jamailu Sanda, who could not hold his tears

when he saw his daughter, said the trauma he had was indescribable because he could not eat, sleep nor think right.

Another parent, Mrs. Shemsiya Muhammed, and mother of Rabiatu Muhammed, who expressed her happiness for their daughter's release, told THISDAY that the experience of knowing that a child is kidnapped is traumatic and can lead to one’s death.

One of the teachers, Mrs. Rashidat Balogun, also spoke to ARISE NEWS Channels to share her experience during the night raid by the bandits.

local security personnel were moved to the bunker where they spent the night.

He said the hub facilities and assets were reportedly damaged by the insurgents who also set ablaze the largest health facility in the town.

He stated that other NGO facilities, including accommodation and offices were also targeted while an unspecified number of staff was feared trapped.

“Although the military deployed additional personnel and assets in the area on the morning of March 2, the clash was still ongoing with civilians caught in a deadly crossfire,” the source added.

It was, however, gathered that the military is gradually gaining ground and have been able to release the aid staff trapped in the bunker and have taken them to military facilities.

Sources within the humanitarian community also told THISDAY that air services (helicopters) by the United Nations into some of the towns of Borno State have been suspended.

The security situation in Dikwa LGA has deteriorated since mid-February when Boko Haram took over neighbouring Marte local government area forcing an influx of nearly 4,000 civilians into Dikwa.

Dikwa had come under direct multiple attacks on February 20, prompting a temporary withdrawal of some aid workers, and the latest attack came barely four days after Governor Babagana Zulum visited the area.

adding that the premises of several aid agencies and a hospital were reportedly set ablaze or damaged.

He said: “I strongly condemn the attack and am deeply concerned about the safety and security of civilians in Dikwa, including internally displaced people inside and outside camps and thousands of people who had returned to the community to rebuild their lives after years of displacement.

“This violent attack will affect the support provided to nearly 100,000 people who are desperately in need of humanitarian assistance and protection, particularly as the COVID-19 pandemic risks spreading in Borno State.

“Civilians and aid workers, their facilities and assets should never be a target. They must be protected and respected at all times. I call on all armed parties to immediately stop the violence and respect international humanitarian law and human rights law, and ensure the protection of civilians, humanitarian property and personnel.”

MILITARY: BORNO TOWN, DIKWA, RETAKEN FROM BOKO HARAM (IDPs).

The Nigerian Army in a statement by the Director, Army Public Relations, Brig.

Gen. Mohammed Yerima, said the insurgents’ attempt at infiltrating Dikwa was foiled by troops.

Yerima said in a statement that the troops of Operation Lafiya Dole routed the Boko Haram terrorists and their Islamic State of West Africa Province (ISWAP) counterparts who attempted to infiltrate and attack Dikwa.

According to him, the terrorist groups stormed the town in an unconfirmed number of gun trucks and motorcycles but were dislodged by troops of 81 Task Force Battalion with reinforcement from other formations of the Nigerian Army and aided by air support of Air Task Force Operation Lafiya Dole.

“The terrorists attempted to invade the town to loot food items and other logistics having got wind of the recent food distribution to residents of the town by the state Governor, Prof. Babagana Zulum.

“They came in their droves through the Marte axis but could not gain access to the town due to the combat readiness of troops who were positioned there,” he added.

He said the terrorists lost the initiative as they were cut off completely following the recent successful recapture of Marte town.

He, however, said in order to scare off residents from returning to their homes, the terrorists planted landmines on the roads, which were also detected and successfully detonated by troops.

He said: “Consequently, the Army Headquarters wishes to debunk the unsubstantiated reports on social media suggesting that the terrorists attacked UN Base in Borno, trapping 25 aid workers as published by some outlets.

“Those false and sensational reports are clearly aimed at stirring up tension in the region and diminishing the glaring efforts and sacrifices of the Nigerian military in the fight against insurgency."

According to multiple

sources, while the insurgents were in control, they torched many buildings, abducted many humanitarian workers and levelled many facilities in the town.

A source told THISDAY that many aid workers were feared trapped in Dikwa as armed fighters targeted humanitarian hub and other aid facilities in the town.

He said: “There are serious safety concerns for tens of aid workers, including 20 in the humanitarian hub and others in NGO facilities across Dikwa LGA following repeated attacks

by Boko Haram.”

The insurgents were said to have entered Dikwa from Marte LGA axis, clashing with military personnel who reportedly withdrew from their base after a one-hour gun duel.

The source added that the insurgents later proceeded to the humanitarian hub firing sporadic gunshots that forced the riot police security at the facility to flee.

It was learnt that when the insurgents invaded the premises, some 20 aid workers and five

Attack Threatens Food Supplies to 100,000IDPs, Says UN Meanwhile, the Resident and Humanitarian Coordinator of the United Nations in Nigeria, Mr. Edward Kallon, in a statement yesterday, said he was gravely preoccupied by reports of an ongoing violent attack by non-state armed groups on Dikwa, during which aid facilities were directly targeted.

According to him, the attack started on Monday night,

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COMMENT

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

LAWLESSNESS WRIT LARGE

It’s time to stop the bloodletting in Nigeria, writes Sonnie Ekwowusi

A

mid the collapse of state machinery for protection of lives and property, anarchy has been let loose upon Nigeria. The Hobbesian bellum omnium contra omnes (war of all against all) characterized by bloodlettings, communal bloody feud, abductions, banditry and so forth, now reign supreme in Nigeria. No day passes without the AK-47-wielding Fulani herdsmen murderers, bandits, gunmen, kidnappers, arsonists, hoodlums, and rapists, freely sacking communities or abducting or killing or injuring scores of men and women in different communities especially in North-Eastern Nigeria.

Last week, about 317 female students of Girls Secondary School, Jangebe, Zamfara State were abducted by unknown gunmen. It was the third mass kidnapping of students in three months in an escalating wave of rural banditry attacks in the area. Yesterday, 279 of the girls, which the government said were the actual numbers of students abducted, had regained their freedom. On February 17 2021, 27 students and some staffers of Kagara Government Science College, Niger State were abducted by gunmen. Happily, the abducted students had regained their freedom.

Last week as well, there was tension at Upper Iweka in Onitsha, Anambra State. The tension had arisen from the arrest of two suspected Fulani herdsmen who were carrying dangerous weapons. The two gunmen allegedly came to Abuja luxurious-bus Park, Onitsha to board a bus going to the northern part of the country when they were apprehended by traders and park attendants. The heroic traders and park attendants un-wrapped their respective bags only to find guns and daggers hidden in them. Had the two men successfully boarded the luxurious bus they would have used the guns and daggers in their possession to kill or injure the bus occupants or even kidnap them and drag them to their hideout inside the thick forest. On January 22, the Nigerian soldiers invaded Orlu under the guise of searching for Nnamdi Kanu’s Eastern Security Network (ESN) operatives who allegedly had been attacking the Orlu civilians. But in the process, eight buildings were burnt and one person was killed in the ensuing gun battles. Three days later, the State Security forces re-invaded the area and fought with the ESN at the end of which at least five civilians and four soldiers were killed.

Recently the Niger Delta militants issued a threat that they would attack Abuja and Lagos respectively in March over the alleged neglect of Niger Delta. Meanwhile killer Fulani herdsmen have continued to run amuck killing, maiming and raping their victims in Rivers, Oyo, Ogun, Ekiti, Anambra, Ebonyi, Imo, Abia, Edo and virtually all the states in Southern Nigeria. If you think this is an exaggeration, just goggle “Fulani herdsmen attacks” and you would be shocked by the statistics that would pop up. The saddest aspect is that whereas the federal government is quick to declare IPOB a terrorist organization and round up IPOB members and throw them into seemingly everlasting imprisonment, the same federal government has allowed the Fulani herdsmen murders to be freely going about killing, maiming and assaulting their victims and even confiscating their lands. The man in Aso Villa does not see anything wrong with Fulani herdsmen committing heinous crimes in the land and getting away with them. Ditto for

IN THE LAST SIX YEARS WE HAVE SOWN THE WIND AND NOW REAPING WHIRLWINDS

prominent Islamic cleric Sheik Gumi. He defends Fulani herdsmen killers. He rationalizes their carrying arms such as AK-47. In the same vein, to Bauchi State Governor Senator Bala Mohammed, killer Fulani herdsmen have a right to carry AK-47 and freely operate in any part of Nigeria.

You can see why chaos had been let loose upon Nigeria. Gun running. Social cohesion is unglued. Man eats man. Lawlessness writ large. Confusion extravaganza. Drumbeats of war and secession threats and counter-threats resonate and pervade the atmosphere. Our country is travelling down the worst road to the precipice since her independence. Can our living condition be any worse? Can it be more mean and abject? It has never been this bad. It is obvious that the man in Aso Villa is not in charge. It is obvious that he does not care a hoot about the hell that is being let loose in Nigeria at the moment. All that he seems to care about at the moment is the timely completion of the $1.959 billion Kano to Maradi (Niger Republic) rail line project. Mark you, there is no rail line from Niger Delta (which produces oil, the county’s only source of wealth) to, say, Abuja. No rail line from Lagos, a veritable commercial hub, to, say, Onitsha. No rail line from Sokoto to Lagos. No rail line from the Enyimba city of Aba to Lagos. But there will soon be a rail line from Kano to Niger Republic. How can a government squander a gargantuan borrowed sum of $1.959 billion on a white elephant project at the expense of fixing the country’s educational system and primary health care system which had since collapsed?

The deduction from the above is that our enemies are those of our household. In the last six years we have been experiencing a kakistocracy-a forging of a bolt for our own national destruction collecting and augmenting the fuel that is now threatening to wrap up the country in its malignant and furious flames. In the last six years we have sown the wind and now reaping whirlwinds. In the last six years we have been planting tyrants and now harvesting chaos and anarchy.

In the last six years they have been vilifying and persecuting the oppressed. Yet this is my country. I call it my country and they admit it, but they deprive me of my rights and entitlements. They want me to love my country; they want me to dream of no country except my country but they deny me my sense of belonging. They want me to sing the National Anthem and recite the National Pledge with pride and gusto. But how can I love a country that derives joy in spilling the blood of her innocent citizens? Love is reciprocal. Love is blind. How can I love a country that does not love me? How can I love a country in which millions of my fellow-creatures groan beneath the iron rod of the worst despotism that could be devised?

Wearing of masks is compulsory. So we wear masks. But those are the masks covering the grins and lies. With torn and bleeding hearts we may be smiling but we may not know peace until the blood of the murdered innocent citizens of Nigeria is avenged. What do pathological murderers gain by spilling the blood of innocent citizens? Nothing!

What do the living gain by keeping quiet in times of great moral crises? Absolutely nothing !! My fellow countrymen and women, silence is no longer golden. Speak up. Act now. Now is the time to put a stop to the bloodletting in Nigeria.

BATTLING CORRUPTION IN NIGERIA

Felix Nyerhovwo Jarikre argues that the authorities could do more to stem the menace

I

t cannot be denied that corruption has affected Nigeria negatively in the contexts of economic development and efficiency, poverty alleviation, health care delivery, education and national image. Indeed, the corrosive effects of corruption can be felt in the political process of leadership recruitment at all levels; how law is enforced; and how justice is dispensed.

The much-trumpeted fight against corruption in Nigeria has not been successful because those who should take leadership of the war are themselves embedded in corrupt practices. How can you defeat what you are busy facilitating?

A country can have so many untapped natural resources, and yet find her economic growth and development hampered by corruption. Sadly, we don’t have to look far to find an example. Nigeria provides one. Her lack of infrastructure due to misappropriation or bare faced stealing of funds stares painfully at everyone.

When there are no jobs to attract the attention of educated minds and capable hands, taking to crime for some is a ready temptation.

Ajaokuta Steel Mills in Kogi State remains a glaring White Elephant project, despite billions of naira wasted on it since inception many years ago.

Long before President Muhammadu Buhari tried unsuccessfully to make it his personal mantra, the saying, “If Nigeria does not kill corruption, Nigeria will be killed by corruption” had taken deep roots in the minds of concerned citizens.

Nigeria’s image had taken so much battering on the global stage that a British Prime minister once whispered within earshot of the Queen of England that Nigeria was “Fantastically Corrupt.” Needless to say, the concern of how to reduce corruption in our society is not a new one. Many responsible citizens recognize the dangers posed by the ailment

of corruption.

In his inaugural speech in 1999, President Olusegun Obasanjo filled the hearts of many Nigerians with fresh hopes when he made it plain that it would not be “Business as Usual” in how corruption is treated. He vowed that in his fight against corruption, there would be no “Sacred Cows.”

Concerned citizens were elated that national redemption was at hand. As a commendable follow up, the government of OBJ pushed to establish the ICPC and EFCC. Since then, new lexicons like “selective prosecutions...political witch-hunt of political adversaries...vindictive prosecutions...corruption fighting back...corruption fighting corruption, etc.,” have crept into the country’s lingo.

President Goodluck Jonathan was tenacious in his conviction that corruption could be arrested through the application of procedures and technology.

Many implacable critics of PMB are unshakeably convinced that his anti-graft war is largely a hoax, all “sound and fury, signifying nothing.”

Understandably this point of view does not find agreement with Buhari’s supporters. What cannot be disputed though is that Nigeria is barely scratching the surface in her various efforts to reduce corruption.

So for me, what is relatively new in the topic of fighting or reducing corruption is the term: “Sincere Commitment.” The term “sincere commitment” dares to embrace the assumption that there will be a massive or unrelenting resistance and opposition to the idea that reducing corruption is necessary.

Factoring the prevalent culture whereby corruption is seen to be permissible with the caveat: “Just don’t get caught.”

Sincere commitment to degrade the defensive

arsenals of corruption comes with a resolve that the fight will not be waged in a Perfunctory manner but it requires an all out, dugout war where no friend or foe is allowed to get away with crime. It means those that must champion the anti-graft war should have no skeletons in the cupboard. No P.R. packaging as to how much quantum integrity they possess would suffice. Their records of performance in office, public or private, must be Clean. A taint or whiff of scandal associated with the anti-graft warriors must be thoroughly scrutinised and aired before they are given the chance.

Making a decision to prudently use scarce resources in a transparent manner is crucial. Professional accountability procedures must be constantly reviewed to PROVE the honesty and integrity of our leaders and administrators. The war against corruption must be fought not by moral suasion but by the rigorous application of the law.

We must avoid this trap whereby we are constantly being tasked to interrogate or support the motives of our leaders and administrators. The tendency must be discouraged whereby public officers advertise their personal morality in a bid to garner support or loyalty. We don’t want to know what you say you are: we want to know what you do in a manner that is constitutionally transparent.

It helps to realise that people are judged by their actions, and not by their motives.

This means as concerned citizens, we must push to enlarge and strengthen the law enforcement capabilities of anti-graft agencies. Such that our sacred cows would quake and tremble before constituted anti-graft law enforcers.

If the constitution protects the president and governors from prosecutions while in office, it should not prevent them from being investigated for engaging in corrupt practices while in office.

The constitution can be amended to include the appointment of a special counsel to investigate the president, for example, if he is accused of corrupt practices like using his office for personal enrichment.

The emphasis on leadership being PROVED to be above board on the stakes of honesty, integrity and transparency cannot be stressed enough. We have a well-known saying in the Holy book that if the “head is sick, the whole body shall be full of wounds.”

It’s no gain saying that Nigerians generally despise corruption - and they say it. Even though it looks like lip service as they are tied to the conundrum of: “Who will bell the cat?”

Another way to reduce corruption is to jealously fight to protect Nigeria’s image as a corrupt-free country. We should not allow it to go unchallenged when Nigeria is labelled “fantastically corrupt.”

We should feel affronted that outsiders see us as very corrupt people. It’s not a tag that should be worn as a badge of honour. This is not just a token gesture at being patriotic, but a realisation of the principle that no man or woman can behave consistently different from the image they have of themselves. As it is with the individual, so it has equal application to a nation.

So we must not allow ourselves to fall into the trap of seeing ourselves, being Nigerians, as corrupt people. Once this faulty image is allowed to gain foothold in our national psyche, it’s hard to fight against corruption without appearing insincere.

We should reject the idea that our value system as Nigerians has a soft spot or latitude for corruption.

We should question the propaganda that paints Nigerians as the epitome of moral failure and the face of evil when it comes to facilitating corruption.

Jarikre wrote from Lagos

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EDITORIAL 5G AND SECURITY SUPERSTITIONS The fears being raised by Office of the National Security Adviser are unnecessary

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he Office of the National Security Adviser (ONSA) has lately been echoing the superstitions peddled recently about the 5G technology by a Nigerian Pentecostal pastor. The ‘warning’ is that the deployment of the 5G telecommunications network could have some implications on national security. The ONSA argument sounds like the one the Central Bank of Nigeria (CBN) used to ban cryptocurrencies. It all reflects the reluctance of those who run our public policy to embrace the challenges of science and technology in the age of galloping digitalisation and artificial intelligence.

The security-related fears being raised by ONSA are quite laughable. Here is a country where the security apparatus is being outwitted by ordinary bush bandits, where oil multi nationals are stealing as much crude oil as they want and where basic intelligence gathering about mundane issues has become impossible. Even if 5G technology posed a security risk, we are neither equipped to detect nor exposed to those risks. And in any case, here is a country that has not articulated any strategic vision let alone shown a stake in a fast changing world.

The security propaganda about 5G technology derived from the big power IT ALL REFLECTS THE tussle between China and the US over the RELUCTANCE OF THOSE possibility that 5G WHO RUN OUR PUBLIC POLICY TO EMBRACE THE technology could CHALLENGES OF SCIENCE be used by Chinese AND TECHNOLOGY IN THE companies to gather sensitive intelligence AGE OF DIGITALISATION through the mobile AND ARTIFICIAL telephone networks.

INTELLIGENCE US efforts to recruit other developed countries to buy into this has failed. The United Kingdom and a significant number of European Union (EU) countries have since began rolling out their 5G networks. Major telephone handset manufacturers like Apple and Samsung have put 5G enabled sets into the market. The Apple iPhone 12 and Samsung Galaxy S21 now in circulation are all 5G enabled sets.

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T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

T H I S DAY 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 BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA

hen the controversy started last year with spurious claims by Pastor Chris Oyakhilome, the Minister of Communications and Digital Economy, Isa Pantami, said he had ordered a three-month study trial “in order to critically review and study the health and security implications of deploying 5G in Nigeria” and that as “part of the study trial process, I directed the Nigerian Communications Commission (NCC) to ensure that a team of experts, security agencies and other stakeholders fully participate in the trial process and my office also invited these agencies to participate in the trial.” Following the ONSA statement last week, Pantami said the country would soon produce a national policy on the 5G network deployment based on the report of their research.

The initial trade and security spat between China and the US on 5G equipment has not diminished the advantages of the technology that has been embraced globally.

They include a faster data acquisition and transmission speed, increased possibilities in applications ranging from online medical diagnosis to public safety and security surveillance. It is on the strength of the foregoing that most national networks have adopted and are installing the infrastructure for 5G networks.

Rather than join the anti-G5 campaign that is based on unfounded hysteria, our security people should instead concentrate on assisting the networks and the public to embrace the benefits of the technology. The higher bandwidth and enhanced satellite access that come with 5G should in fact aid defense and security facilitation in a country where bandits now abduct hundreds of school children and ferry them to some forests without detection.

Tragically, the debate over the 5G network rollout just like that over cryptocurrencies, reflects the malaise that has held Nigeria hostage in antiquity. We are confronting the challenges of an age of knowledge with the instruments of superstition and patent ignorance.

While we await the report of the Pantami committee, ONSA should not lend itself to spreading disinformation that is antithetical to the development of a critical sector in Nigeria.

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The North And Spectre Of Insecurity

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f you did not believe the once flourishing Northern Nigeria is caught in the web of insecurity, the recent abduction of students in Kagara and Jangebe by bandits will prove you wrong. The North of today is in flames or grappling with the menace of banditry, kidnapping and dreaded Boko Haram. Every passing day, the region is in bad news. It is a horrific news of bandits attacking communities and kidnapping defenceless villagers for ransom. From Maiduguri in Northeast to Zamfara and Katsina in the Northwest, Boko Haram and bandits are making lives difficult for the poor inhabitants. The once peaceful Niger State has also become the home of bandits. Many rural communities have been overrun by the rapacious criminals wielding sophisticated weapons. What a sad development!

Did the region wake up one day and find itself in this big tragedy or security jeopardy? Certainly, no. It is a long period of negligence, grievance, and injustice. These factors must have contributed to the present woes. Northern Nigeria is blessed with vast land and fertile soil for agricultural production. In spite of this vantage position, 70% of its population are poor. There is also high level of illiteracy with the increased rate of out of the school children. For over a decade, with the exception of the first generation leaders whose foresight and vision led to the massive investment in education, the region suffers total negligence from the present crop of leaders who are direct beneficiaries of our former

leaders selfless service. I shed tears when I saw the picture of Kagara school where the abduction of over 27 students and their teachers took place. The school depicts the poor condition of public schools in Niger State. Is Niger the only state in the North with dilapidated public schools? The answer is no. Most of our leaders pay lips services to the development of education. A trip to the Northern states will show how the region suffered from low investment in the education sector.

Poverty and illiteracy in the region are twin-evils breeding the current insecurity. Some internal and external forces have been exploiting these problems to their own advantages.

With multi-ethnic and religious composition, every tribe in the region is a victim of conflict waged by his other fellow ethnic group. These mountain of grievances from every angle have continued to fuel suspicion and hatred among diverse ethnic groups in the region. Recently, Fulani group has said, the government has abandoned them. They are victims of cattle rustlers and other securities who connive with their leaders to extort them. The same with other ethnic groups who suffer one form of violence or another.

However, the inability of government to bring the perpetrators of many heinous acts to justice has not helped matters.

Be it religion, ethnic or communal violence, the promoters and perpetrators are not ghost. They are known by the state.

Instead of the long arm of the law bringing them to justice, they are allowed to roam free.

Ibrahim Mustapha, Pambegua, Kaduna State

Ending Insecurity In The North

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he persistent rise in the level of insecurity in the north has been a cause for concern in my dear country. People are no longer safe in their mother land due to incessant attacks by Boko Haram, bandits and kidnappers who abduct, kill, rape innocent women and destroy public properties with impunity.

Someone may ask, who are these people?

Where do they come? Why are they unleashing mayhem on innocent citizens?

Who are their sponsors?

It is time for all Nigerians to put all hands on deck to end all forms of insecurities in our dear nation. Regardless of religion, tribe, ethnic group or region let us all put our hands together towards restoring peace and stability in our nation.

Nigeria is the only country we can call our own, therefore, let’s talk peace in words and action.

I call on the politicians to put aside the blame game syndrome and take responsibility as the representative of the masses.

People are being killed on a daily basis.

I want you to ask yourself this question as a politician, what if it is your brother,

mother, sister, father or daughter that are being killed? The life of the common man is regarded without value. Where are we heading to? Let’s call a spade a spade.

Furthermore, I call on religious leaders to engage in fervent prayers for the restoration of peace and unity in our dear nation.

They should call their followers to engage in prayer and fasting for divine solution to our present predicament.

Civil servant and business owners are encouraged to promote peace and love in their places of work. They should engage in rendering quality services to people.

They should refrain from segregation, nepotism and anything that is capable of causing disunity.

Also, the traditional title holders should encourage their subjects to live in peace with their neighbors. They should call the attention of the concerned authority whenever they perceive any behavior that is capable of breaching the peaceful consistence of the people. They should discharge their duty without prejudice.

Awang Umar Garams, Department of Mass Communication, University of Maidiguri.

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T H I S D AY ˾ WEDNESDAY MARCH 3, 2021

MIDWEEKPOLITICS

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

Uba Takes Another Shot at Anambra Governorship David-Chyddy Eleke writes that the odds favour Senator Andy Uba who is taking another shot at the governorship seat of Anambra State on the platform of the All Progressives Congress

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our things will give Senator Andy Uba an edge over other aspirants in the forthcoming Anambra governorship election. These are; his acceptability among the electorates, his experience in the art of leadership, his doggedness, which can match any other candidate’s in other political parties and his deep pocket.

But the current hurdle before the former presidential aide, governor and lawmaker is how to secure the ticket of the APC for the election as the party is already crowded with lots of aspirants. In the primary election of the party, the four qualities above will also come to play in helping him secure the ticket, but most importantly is having shown himself to be a staunch and committed party man, despite all odds. In June, Uba would be slugging it out with 10 other aspirants for the ticket of the party. They are; Barr Ben Etiaba, Dr Amobi Nwokafor, , Dr George Moghalu, Paul Orajiaka, , Engr Johnbosco Onunkwo, Arc Geoff Onyejekwe and Hon Tony Nwoye.

Dedication to party In 2017, Senator Andy Uba contested for the governorship ticket of the APC, but was stopped from picking the ticket because it was believed that giving the ticket to a candidate from any zone other than Anambra North senatorial zone would truncate the unwritten zoning arrangement in the state, thereby cutting short the term of the northern senatorial zone, where Governor Willie Obiano, who was then running for reelection hails from.

The party settled for Hon Tony Nwoye who is from same zone as Obiano to battle him, but Nwoye lost.

Many in the party thought that Uba would leave the party out of annoyance, especially as it was believed that Nwoye who the party settled for was Uba’s ‘boy’, but they got it wrong. Uba insisted he would remain in the party and work for it, while pledging his commitment to work for the reelection of President Muhammadu Buhari in 2019. Uba said, “Whatever I can do to make the party win, I will do. I will work for the party, and I will work to ensure it wins. APC is our party, I have done a lot for the party, and I will not leave it for any other political party, that is my resolve.”

True to his words, Uba remained in the party and also worked hard to sell President Buhari to the people of the state in the 2019 presidential election, Uba was the Anambra state coordinator for the 2019 elections, committing himself and his resources towards ensuring the victory of the president. Uba has also remained in APC and given his support to the party, helping to win more members for the party.

So far, Uba has been going around, preaching the message of both the APC and President Buhari. In a recent meeting with members of his electoral ward in Uga, Aguata Local Government Area, the former lawmaker told the people that Anambra State had more to gain when a governor under the All Progressives Congress takes over power in the state.

Uba praised President Muhammadu Buhari for his projects in the South-east insisting that the APC has done far more than the PDP government would have done. He lashed out at the PDP, saying it only embarked on projects they used as a campaign slogan without completing them.

“The APC government is doing massively well and executing capital and land mark projects in every state in the South-east which the PDP failed to execute. They (PDP) cannot convince the people that President Buhari is not developing the South-east. That is what governance is all about. You cannot be

Uba

governor or president, just for your area.

You need a governor who will develop the state. When I become governor of Anambra State on the platform of the APC, it would positively affect the state because it is APC to APC and if you go to Imo State today, you can agree with me that Governor Hope Uzodima is working.

“When you understudy the past regimes in the state you will discover that the past governors concentrated on their communities, local government areas and senatorial districts to the detriment of other parts of the state, but as a governor, I will not do that. Mbadinuju focused on Ihiala Local Government Area, Ngige focused on Idemili North and South Local Government Areas and Anambra Central, while Peter Obi took care of Anaocha Local Government Area and some parts of Anambra Central. Even the current administration of Obiano is neck deep in the same direction. The governorship position of Anambra state is not for sectionalism, but for the good of the entire people of Anambra and residents in the state. This has brought uneven development in Anambra State but that is not what

governance is all about. We are talking about interfacing with the electorate in the area of equal and even development from the North to the Central and to the South without sectionalism,” Uba said.

Vast Experience Uba, a former presidential aide was also a two term senator. He had a short stint as the governor of Anambra State.

He is believed to have a very high experience of governance, and this has placed him above most of those contending the governorship ticket in the party with him.

Above his experience, many more factors are working are working in the favour of the Uga born politician. Some of those factors include his connection in high places and his very deep pocket.

In a recent meeting of the party, the state chairman of the party, Mr Basil Ejidike lamented the paucity of funds in the party, stating that he and members of the executive run the party with their personal fund. “This has adversely affected the running of the party. A high powered committee of committed elders has been set up to explore avenues of sustaining

The APC government is doing massively well and executing capital and land mark projects in every state in the South-east which the PDP failed to execute. They (PDP) cannot convince the people that President Buhari is not developing the South-east. That is what governance is all about. You cannot be governor or president, just for your area. You need a governor who will develop the state. When I become governor of Anambra State on the platform of the APC, it would positively affect the state because it is APC to APC and if you go to Imo State today, you can agree with me that Governor Hope Uzodima is working

the party financially. There is no steady source of revenue for the daily activities and sustenance of the party. As chairman of the party, I personally pay the drivers, security aides, official aides, official travels and other official engagements of the party from my personal funds.

This is also applicable to other officials of the party.”

Also, Paul Chukwuma the immediate past national auditor of the party and Emma Anosike, a former senator representing Anambra North zone reiterated calls on Dr Ngige to speak to the national leadership of the party for them to “water the ground well for the party to be able to function in the forthcoming election”.

Anosike said, “I have never seen a party that is in power at the national level, but when they is election here (Anambra), we are given money from back pocket to prosecute it, but when there is election in other states in other regions of the country, they give money from front pocket. If they do not want us to be a part of the election, they should tell us early enough so we go and rest.”

Hon Tony Nwoye, a governorship aspirant of the party in his own address called on the leader of the party in the state to reach out to the party at the national level for support if the election must be fully prosecuted. He insisted that if the party continued to run the way it does, it would not be able to win the governorship election in the state. “This is a special meeting where we need to tell ourselves the truth. Our leader, Dr Chris Ngige must play the role of a leader. He has to reach out to the party at the national for us to get the resources to discharge the election creditably,” he said.

But speaking to THISDAY, a top member of the party who did not want his name in print said, “It is true that this time around, we have a large number of aspirants, all of who are quality materials, but let me tell you, a lot of things will be considered before the party would hand anyone its ticket. You have to consider the influence of the person, his connections too, which can help the party win, and most importantly, you have to be sure it is someone who has the money to finance his election.

“Andy Uba is the man who has all these qualities I have just mentioned. He is the man you will give the ticket and he will single handedly do battle, both in bringing his contact to bear and even in bringing out money to finance his election.

Most of these people (aspirants) you see are only believing that once the party gives them the ticket, they (party) will also mobilize funds and other logistics to deliver them, but for Andy Uba it is not so. Uba is someone who has the capacity to finance an election without going cap in hand to seek for funds. Let me tell you, nobody is willing to donate money to finance election for another person because of party. Uba also knows how to run elections, he is an uncanny strategist deploying such strategies time and time again.”

Already, THISDAY gathered that Uba has been pulling the necessary strings in higher places, just as his fellow aspirants also recognize his potential and the need to give the ticket to a candidate who can lead the party to victory. A source said most of his co-aspirants were already considering stepping down for him.

Though this year’s election would not be Uba’s first, but pundits say his chances are very bright this time. Uba hails from the Southern senatorial zone of the state, which is believed to be the favoured zone, by virtue of the unwritten zoning arrangement in the state. He may also be compensated for staying put in the party, despite losing the ticket of the party in 2017.

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POLITICS

APC Welcomes More Defectors in National Assembly to Its Fold

GOVERNANCE IN PHOTOS

Udora Orizu writes that the ruling All Progressives Congress is counting its increasing blessings as a good number of members of the minority caucus in both Senate and House of Representatives switch political party loyalty

L-R: Lagos State governor, Babajide Sanwo-Olu; wife of Ekiti State governor, Erelu Bisi Fayemi; Ekiti governor, Kayode Fayemi; Ondo State governor, Rotimi Akeredolu; his wife, Betty; Deputy governor, Lucky Aiyedatiwa, his wife Mrs Aiyedatiwa; Osun State governor, Gboyega Oyetola and Ogun State, Dapo Abiodun after the inauguration of Akeredolu as a second term governor in Akure

Onuh

Onuigbo

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Senate floor stated. Two other senators later left the ruling party while parliament was in session.

Like in the Senate, 32 members of the House of Representatives also defected from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP). Four other lawmakers opted for the Africa Democratic Congress (ADC).

Their letters of defection were read by the Speaker Yakubu Dogara. Shortly after that, the Chairman, House Committee on Rules and Business, Orker-Jev Yisa also announced that he was resigning from the APC. Members who defected from APC to ADC were: Sunday Adepoju (Oyo), Olugbemi Samson (Oyo), Taiwo Michael (Oyo) and Olasupo Abiodun (Oyo).

The 32 who defected to PDP were: Garba Umar (Kano), Olayonu Tope (Kwara), Ahmed Garba (Kano), Kabiru Marafa (Sokoto), Zakari Mohammed (Kwara), Abubakar AmudaKanike (Kwara).

Others imcluded: Ali Madaki (Kano), Hassan Saleh (Benue), Ahman Pategi (Kwara), Mark Gbillah (Benue), Shehu Usman (Kano), Aminu Shagari (Sokoto), Nuhu Danburam (Kano), Atunwa Abdulrazak (Kwara).

Also, Salisu Zakari (Bauchi), Hassan Omale (Kogi), Oker-Jev (Benue), Rufai Chanchangi (Kaduna), Abdulsamad Dasuki (Sokoto), Sani Zoro (Jigawa), Benjamin Okolo (Kogi), Funke Adedoyi (Kwara), Bode Ayorinde (Ondo), Bashiru Salihu (Sokoto), Barry Mpigi (Rivers) were among.

The other set of decampees were: Nasiru Sule (Kano), Segun Ogunwuyi (Oyo), Lawal Rabiu (Kaduna), Sani Rano (Kano), Dickson Tarkighir (Benue) Musa Adotsamiya (Kano) and Emmanuel Udende (Benue).

s the country gears up for 2023 general elections, political parties as usual are trying to find an edge over each other, giving rise to the recent gale of defections from one political party to another, particularly to the ruling All Progressive Congress (APC) by some members of the minority caucus in the Senate and House of Representatives.

Defection by political office holders is not a new phenomenon. Since the return of the country to civilian rule in 1999, Nigerians have witnessed defections over and over again both in the executive and legislature.

An example was when in the run-up to the 2015 general election, some members of the then ruling People’s Democratic Party, (PDP) began defecting to the All Progressive Congress (APC) which had just been formed from four legacy parties, and they were all welcomed into the fold. The reverse was again the case in the run-up to the 2019 general elections which saw some APC members defecting to PDP. This cycle of defections otherwise known as carpet-crossing has been one of the challenges to the sustainability of democracy and evolution of a robust political system in the country.

While developed democracies like the United States, United Kingdom and so on, have politicians who have experience in politics spanning decades without faltering in party affiliation, in Nigeria it’s rare to see such.

Here in Nigeria, politicians don’t just defect for the sake of it. Though they usually hinge their reason for defecting on the so called ‘crisis or factionalisation’ in their current party, most times their carpet-crossing from one party to another is usually determined by what they hope to get from the new party they are defecting to. As the country prepares for the next general election billed for 2023, again alignment and realignment of forces have begun.

As more federal lawmakers in the 9th National Assembly defect to the APC, the rank of the party has continued to swell, as they take up more seats previously occupied by the minority caucus in the two chambers.

Defections in Previous Assemblies In 2014, during the Goodluck Jonathan, PDP led administration, about 16 senators defected to the APC. The senators signed a letter that cited “factionalisation” in the governing People’s Democratic Party (PDP). The defectors announced their decision in a letter to the then Senate President, Senator David Mark.

In 2018, 16 senators quit the APC.14 of the 16 lawmakers left the All Progressives Congress (APC) to join the opposition People’s Democratic Party (PDP), a letter read on the

L-R: Mr. Iniobong Akpan, Mr. John Udoh, Obong Paul Ekpo, Gov. Udom Emmanuel of Akwa Ibom State, Speaker of AKHA, Mr. Aniekan Bassey ,Elder Godwin Enoidem and Mr. Ekong Ambrose during the swearing-in ceremony of Chairman and Board Members of the State Universal Basic Education Board recently in Government House in Uyo

L-R: Governor Okezie Ikpeazu, Mrs Flora Abaribe and her husband, Senator Enyinnaya Abaribe at the launch of the Autobiography of the Senator in Abuja

The 9th Assembly Just like in previous assemblies, the 2020 legislative year in the 9th assembly witnessed a gale of defections with many of the main opposition federal lawmakers from the Peoples Democratic Party, (PDP) crossing to the ruling APC. It all started on November 25, when the Yobe State Governor and Chairman of All Progressives Congress (APC) Caretaker/Extraordinary Convention Planning Committee, Mallam Mai Mala Buni told Nigerians to expect more shocking defection from the minority parties to the All Progressives Congress (APC).

Governor Buni, who made the disclosure at a meeting with APC Senate caucus in the National Assembly said his leadership reconciliation drive has encouraged aggrieved NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

L-R: Ms Titilope and Omolola Popoola, Otunba and Chief (Mrs) Adekunle & Gbemi Adegbite, Mrs Aderonke Adekoya, Otunba Ayo Olumoko and Mr Gbenga Ogunlaja recently at the ceremony of newly installed Mayegun of Odogbolu

T H I S D AY ˾ ͱ˜ 2021

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FEATURES

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

Promoting Sustainable Development Buoyed by Love Beyond the usual hullabaloo that surrounds every February 14, Sahara Group has over the years continuously advocated for the entire month to be an opportunity to focus on a cause that promotes sustainable development either by championing climate change or girls in science, tackling substance abuse, increasing cancer awareness and taking global action against COVID-19. Chiemelie Ezeobi reports

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ove tickles and tingles every February, especially on the 14th. Grand plans are made to mark the day, usually with high hopes of cementing the bond of love – that elusive and intriguing four-letter word that elicits tears and heart-breaks in equal measure. Beyond the conventional way Valentines Day is celebrated globally, energy conglomerate, Sahara Group happens to have spun a new love ballad that enjoins people across the globe to share love beyond the 14th – to make every February an opportunity to focus on a cause that promotes sustainable development.

Since 2018, Sahara Group has given traction to several themes in this regard, driving the rebirth of love beyond a day across its locations in Africa, Asia Europe and the Middle East. Since then, the corporate initiative has been geared towards devoting the month of February every year to a cause that promotes global well-being.

The initiative began with the “GreenLove” campaign in February 2018. The focus then was on safeguarding the well-being of the planet earth that is home to almost eight billion people.

In 2019, the energy conglomerate celebrated #PinkLove to increase cancer awareness. The focus for 2020 was #CleanLoveFeb” where Sahara shed light on the dangers of substance abuse, with an overarching zero-tolerance narrative to make living and staying clean a way of life for everyone and in 2021, global action against COVID-19.

Green Valentine for Climate Change As part of the themes, the group in 2018 marked the 'Green Valentine' as part of its advocacy towards climate change. In lending their voice to the climate change conversation, the international energy and infrastructure giant put an eco-conscious spin on the globally celebrated day of lovers by asking its workforce across 15 countries to #GoGreenforValentine.

According to Bethel Obioma, Head of Corporate Communications, “At Sahara, we believe our love for the planet comes first and foremost. Our planet is the source of all life and livelihoods, so we thought we’d use our people to highlight the subject of climate change this year.

"The internal communications campaign was hugely successful which was very gratifying to the team which incubated the idea. Staffers relished the autonomy of coming to work on a Wednesday in whichever dress code they chose, albeit with at least a touch of green. The result was a variety of shades and expressions of green, all for the love of the planet we call home.

"Whilst staffers were treated to the usual Valentines customs of sweet confections and heart shaped motifs, there were tree planting activities, talks on climate action and the special appearance of a green painted acrobat on stilts, clad in a an eco-friendly t-shirt at the company’s Ikoyi, Lagos office. “My Love for earth is evergreen,” was the big message emblazoned on the t-shirt.

"Everything glistened in green from the icing on the cakes to the balloons that filled the front rooms of the company’s many offices.

It wasn’t all games and gaiety on the day.

Underpinning #GoGreenforValentine is Sahara Group’s commitment to the UN-led mandate to deliver on Climate Action, SDG No. 13 by 2030. Climate action essentially requires activating the forces that are needed to combat climate change. It is a clarion call to the public & private sectors as well as civic society to play a palpable, constructive role in keeping the planet clean and healthy."

"Initiating and sustaining conversations on climate change is crucial to the realisation of the mandate which is why Sahara Group has leveraged on its presence in fifteen countries across four continents to amplify the need

Promoting Girls in Science

Sahara PCSR at work for consciousness and activism in our natural environment.

“At least two of the countries in which we operate are in the Environmental Performance Index (EPI) top twenty list of the world’s most environmentally friendly countries. Singapore and Switzerland are at numbers 14 and 16 respectively. But we cannot ignore the fact that there is a need to push for climate action in all the territories in which we operate. All of the SDG mandates are very personal to us.

We feel we have duty of care, and a need to reinforce these messages through all available platforms consistently,“ Obioma stated.

On the sideline, he noted that made the campaign all the more remarkable was not just the bold and striking colour of the day but the enthusiasm with which people embraced the cause itself. "It is quite possible that many in the organisation are beginning to view their natural environments via a green tinted lens" Seyi Williams, a member of the Strategy Department said “Living in a fast moving city like Lagos, it’s difficult to actually take time to think about what one can do to better the environment. Apparently there’s so much I can do in my little sphere of influence. I will certainly be walking to the office a lot more frequently instead of taking my car.”

Across the pond in Geneva, office manager Alina Spada, who was responsible for organising

all activities in the build up to the event said “We got so excited and I discovered that so many of my colleagues are closet eco-warriors.

I’m a vegan and it was so refreshing to discover others who shared my belief that veganism is good for the planet. It contributes towards reduction in water usage and carbon emissions.”

Additionally, Obioma said the #GoGreenforValentine campaign was a good opportunity to break down the ‘hows?’ and ‘whys?’ to those who might be sceptical about such theories. ” In the spirit of consistency, the group scaled its efforts to bring attention to the subject of climate change with a photography contest titled #TheGreenestLoveofAll- an Instagram based competition via which Sahara’s strong social media following were encouraged to submit photos which capture the most striking images of their natural environment with mobile phones.

Obioma continued by saying “Again it’s all about sustaining the conversation. Why stop on Valentine’s day or wait till Earth Day in April? Climate action should be important to all of us every waking day. #TheGreenestLoveof All is designed to help achieve this.”

The organisation is currently negotiating a number of renewable energy projects which should lessen the dependency on fossil fuels and the many polluting effects that result from its continued use throughout the world.

A closing statement from the group’s communication team read: “The ‘Green’ themes we introduced early in February have been some of our most rewarding so far. It is an affirmation of our commitment as strategic partners for the realization of the SDGs. It has been immensely gratifying to see the enthusiasm with which these campaigns were greeted by all our staff across the globe. We fully intend to sustain the momentum.”

At the end of the photography campaign, the winner and first runner up of Sahara Group’s #TheGreenestLoveofAll Instagram based mobile photo contest emerged amid fresh commitment by the leading African energy and infrastructure conglomerate to sustain conversations around environmental protection.

The winner, Irene Ishengoma, a teacher at St Anne Marie Academy in Dar-Es-.Salaam, Tanzania submitted a compelling piece about community led reforestation aptly titled “Together We Can Overcome Environmental Destruction" while Temitope Otubusin a resident of Lagos, Nigeria came in second with an emotive submission titled “The Butterfly & The Eco-System”.

Ishengoma the winner who teaches at St Anne Marie Academy in Da-Es-Salaam enthused: “I am so excited. I really want to thank the Sahara Group for giving me this creative experience. I feel more connected to matters concerning my natural environment than I ever have before.

I’m also looking forward to using my brand new phone to keep the conversation on climate action alive!”

Otubusin, on the other hand, said the competition had inspired her to seek ways of championing the climate action cause through photography and advocacy. “I would like to commend Sahara Group for this initiative and believe that more private sector players, the government and civil society should also be part of this campaign. That is the only way we can deliver a sustainable and healthy environment to generations unborn,” she said.

During that campaign, Sahara Group harvested over 330 photos which were eventually shortlisted by top photographers to 10 of what were considered to be the most creative and thematically compelling entries. The top two pictures were selected after they garnered the most number of likes on @iamsaharagroup – Sahara Group’s Instagram platform – following a Vote by Liking contest which was open to members of the public. The top 10 entries accumulated a combination of over 8,500 in likes and comments on the Sahara’s Instagram handle.

Bethel Obioma, Head of Corporate Communications said: “We could never have anticipated the level of enthusiasm that greeted the competition. We received entries from different countries and the independent assessors commended the quality of the entries and the depth of the messages in the captions. Sahara Group is already exploring various initiatives to sustain global awareness and action."

Obioma expressed delight at the unprecedented level of reach and engagement, which included a solidarity message from the United Nations Sustainable Development Goals Fund (SDGF).

“Our partner Sahara Group is bringing attention to #SDG13 on Climate Action across Africa with a photo contest. You can put your creativity at the service of the #2030Agenda. You are invited to join the campaign,” the organisation tweeted from its handle, @SDGFund.

“We intend to continue pulling all available levers which can help us broaden the climate change conversation and widen the audience of the people we engage. There is an urgent need for global sustainable collaboration towards saving the planet. The time to act is now,” Obioma added.

Combating Cancer In 2019, the group in conjunction with Dorcas Foundation unveiled "How Pink is your Love's

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FEATURES campaign to combat cancer. The duo joined forces to increase awareness of the cancer scourge in a bid to reinforce the role early detection plays in preventing avoidable morbidity and mortality from the disease which claimed the lives of 9.6 million people in 2018.

Statistics sourced from the World Cancer Day website indicate that at least a third of common cancers are preventable and up to 3.7 million lives could be saved each year through implementing appropriate strategies for prevention, early detection and treatment.

Tagged ‘How Pink Is Your Love’, the project took advantage of the euphoria surrounding the 2019 Valentine’s Day celebration to shore up awareness and early detection campaigns through youth engagement talks in schools, health walks, media interactions and donations to select cancer based non-governmental organisations.

The campaign was implemented across the energy conglomerate’s locations across Africa, Europe, Middle East and Asia.

Dr. Adedayo Joseph, Clinical Radiation Oncologist and Executive Director of The Dorcas Cancer Foundation provided lead technical support for the campaign through her organisation which is widely regarded for its leading role in stamping out cancer.

“Last year, Sahara Group added more fillip to the issue of climate change on Valentine’s Day. Our ‘Greenest Love of All’ campaign was well-received and generated remarkable awareness and commitment to galvanising action towards protecting our environment.

This year, we are delighted to work with the reputable Dorcas Cancer Foundation to stem the tide of cancer, a deadly disease which can be tackled by awareness, early detection, accurate diagnosis, as well as prompt and proper treatment," Obioma explained then.

According to Obioma, cancer; which claims 17 lives every minute all over the world requires sustained global attention and collaboration to stem the tide of its adverse impact. “Our campaign is actually a passionate appeal to extract more commitment from everyone to spread the word about cancer, get checked, encourage others to get checked in order to increase the chances of saving more lives through early detection.

"There is also a high level of myths, misinformation and stigma that fuels the spread of the disease. So, at Sahara Group, we are asking, how pink is your love this valentine, as we take the fight to cancer.”

Speaking on the partnership with Sahara Group, Dr. Joseph said, “Not too long from now, every person living will know someone affected by cancer. We owe it to ourselves, and to the people we love to get involved. This fight cannot be left for the oncologists, the doctors, healthcare professionals and non-profits. Every individual has a duty and an obligation to society, to do their part for cancer control.”

According to her, the Dorcas Cancer Foundation has backed cancer research; published and distributed free of charge, a first of its kind childhood cancer handbook in West Africa, funded diagnosis, treatment and rehabilitation for several children; partnered with community leaders and influencers to raise awareness; and trained hundreds of health care professionals on early detection and referral paths.

“But it is all only a drop in the bucket until everyone gets involved. I have devoted my career to changing the cancer narrative in Africa, and I invite every individual, every organisation; to join in their own way. This season, as everyone celebrates love and relationships, I believe we need to take a moment to think about those for whom life seems to be hanging in the balance; those whose priorities are vastly re-arranged by the diagnosis they face. Take a moment to show love to someone who desperately needs it,” she added.

Oluseyi Ojurongbe, Manager, Sahara Foundation said the organisation remains resolute in its commitment to partnering with various stakeholders to “take cancer down”. He said the total annual economic cost of cancer which is estimated at 1.16 trillion dollars makes it imperative for various stakeholders across the globe to support sustainable awareness and prevention projects.

“At Sahara, we have over the years supported several cancer programmes to raise awareness and reduce the stigma associated with the disease. Some of our cancer interventions include donation towards the acquisition of a Mobile Cancer Center by the Committee Encouraging Corporate Philanthropy; sponsorship of prostate cancer surgeries in Lagos; cancer screening and awareness programmes for staff members and cancer screening for over 5000

Campaign against substance abuse rural women across Nigeria. The Sahara Group subsidiary in Geneva recently partnered with English Speaking Cancer Association (ESCA) alongside other organisations to carry out awareness programme themed Paddle for cancer dragon boat festival.”

“The war to defeat cancer should be concerted requiring the efforts of individuals, corporations and government. Sahara Group is excited to draw attention to the cancer menace as the world celebrates the concept of love. We believe the greatest form of love this valentine is to raise awareness and do everything possible to enhance the cause of early detection by promoting voluntary and sponsored medical intervention,” he added.

Tackling Substance Abuse In 2019, the group dedicated the month of February to tackling substance abuse with the #CLEANLOVEFEB campaign. The campaign against substance abuse which claims the lives of 11.8 million each year, that is more than the number of deaths from all cancers.

Tagged #CleanLoveFeb, the focus of the campaign was to sensitise the public, particularly young people, to the dangers of substance abuse.

The campaign involved various activities across Sahara Group’s locations in Africa, Asia, Europe and the Middle East.

The group engaged Dr. Tunde Fadipe, a psychiatrist, to engage various stakeholders on the campaign and undertake school activations such as open conversations, essay and chess competitions. Other activities included awareness walks, press and radio interviews as well as visits to rehabilitation centers. “For us at Sahara Group, the #CleanLoveFeb campaign also represents a critical vehicle for beaming the searchlight on mental health issues that often emerge from substance abuse. We invite everyone to join us in promoting this noble cause by sharing our posts on the social media to ensure that the #CleanLove message gets to much more people, especially, young and impressionable individuals,” he added.

Speaking on the partnership with Sahara Group, Fadipe described Sahara’s global campaign against substance abuse as “timely and exemplary, seeing that we are all affected as relatives, friends, colleagues, teachers, or neighbour and the scourge is a major health concern all over the world.”

Noting that the impact of psychoactive substance abuse on young people had become a growing source of concern for mental health practitioners, Fadipe canvassed the declaration of a state of emergency to address the menace.

“What we have in our hands is a monster with huge forensic and socioeconomic implications.

Seeing that prevention will always be better than cure, we need more sustained awareness initiatives like Sahara Group’s #CleanLoveFeb campaign. All hands need to be on deck to tackle this menace and I am excited to be a part of this commendable campaign,” he declared.

Fadipe said statistics sourced from the United Nations office on Drug and Crime (UNODC) show that up to 270 million people, aged 15 – 64 years use psychoactive substances in a year and up to 13 percent of these people abuse them globally. “Substance abuse does not discriminate as it affects people irrespective of age, gender, culture or socioeconomic status. It is linked with untoward effects on both the individual and society with corrosive effects on health, safety, wellbeing and productivity,” he stated.

A seasoned psychiatrist, Dr. Fadipe is currently

a consultant psychiatrist (addiction, consultationliaison services) at the Lagos University Teaching Hospital where he is involved in rendering clinical service, teaching and research. In the last few years, his practice and research have focused on general adult psychiatry, addiction, psychosocial issues among underserved populations, and mental health advocacy.

COVID-19 Global Action Also as part of the love conversation, Sahara Group keyed into the global action against COVID-19 pandemic. According to Chief Operating Officer, Sahara Energy Resources DMCC Dubai, Andrew Laven, the 2021 Valentine’s Day celebration called for collective action from all citizens of the world to reach out and make life better for others as we combat the COVID-19 pandemic.

Speaking while unveiling ‘#ReachoutThisValentine’ as Sahara Group’s focus for the 2021 Valentine celebration, Laven said cushioning the impact of the pandemic and ultimately defeating the virus required intervention by a “global coalition of responders”.

“What we are witnessing across the globe is unprecedented in terms of the scale of grief and loss on account of the pandemic. When you add to this the fact that simultaneously, the world also must combat hunger, other diseases, and huge human development index gaps, it becomes clear that we must all support of one another. At Sahara Group, we believe that this year’s Valentine celebration presents the perfect platform for us to reach out and give others a reason to smile,” he stated.

The ‘#Reachoutthisvalentine’ campaign was celebrated across Sahara Group’s locations in Africa, Asia, Europe, and the Middle East and it included employee volunteer activities in the areas of education, health, environment, capacity building, and sundry donations to reinforce the fight against the pandemic.

Noting that Sahara Group was delighted to promote this campaign, he urged for global participation, "ultimately hoping that reaching out to others will be a way of life for individuals, businesses and nations across the globe".

Furthermore, the group supported the local communities and organisations who are focused on those in greatest need. Coordinated by The #Reachoutthisvalentine campaign was coordinated by Sahara Foundation, the corporate responsibility vehicle for Sahara Group. The Sahara Foundation has over the years implemented and supported many projects with over 2,000,000 beneficiaries and operates as a global promoter of the Sustainable Development Goals.

Global updates show that COVID-19 cases currently stand at over 106,000,000 while more than 2,000,000 people have lost their lives tonthe pandemic. Thus, Sahara Group’s contribution to the fight against the COVID-19 pandemic includes donation of personal protective equipment (PPE), driving COVID-19 awareness and education in sub-Saharan Africa through educational literature in indigenous languages across various countries and leading the delivery of the 300-bed THISDAY Dome Isolation and Treatment Centre in Nigeria and donation of medical equipment, including fully equipped world-class Intensive Care Units, to the centre and other medical facilities.

Promoting Girls in Science Initiative Not done, Asharami Synergy keyed into promoting Girls in Science Initiative in Kenya.

Asharami Synergy Limited Kenya (‘Asharami Synergy’), a Sahara Group Oil and Marketing Company in Kenya has said it is committed to promoting gender parity initiatives in the nation, especially around encouraging more girls to seek careers in science.

Country Manager, Asharami Synergy, Debola Adesanya said getting more African youths involved in science remained one of the continent’s “surest platform to achieving accelerated growth and development.

“Science is at the foundation of what Africa needs to take advantage of the huge potential it has in its robust youth population and abundant resources. Asharami Synergy is delighted to take this all-important step of creating awareness and supporting initiatives that will give more Kenyan boys and girls access into the world of science".

According to the African Development Bank, less than 25 per cent of African higher education students are in Science, Technology, Engineering & Math (STEM) fields, with majority of students studying social sciences and humanities. The has led to a dearth in domestic STEM workforce and consequently, outsourcing of STEM jobs in Africa to other countries, including the U.S., China, and India.

Given that February 11 annually is set aside for celebrating the achievement and encouraging the participation of women and girls in science, and the day is also used to create awareness and dispel stereotypes that hinder and discourage girls from seeking STEM careers, in its commemoration of the day, Asharami Synergy took its awareness campaign to the Alliance Girls High School in Kenya.

Speaking during a session with the students, Jecinta Ndugire, Trader at Asharami Synergy Limited said the company was delighted at the commitment of the teaching staff and the interest of the girls in exploring the world of science. “It was heartwarming to see the girls exuding so much joy and confidence in their career paths as future scientists and Asharami Synergy will continue to promote more involvement of Kenyan boys and girls in science,” she said.

Alliance Girls High School Principal, Mrs. Virginia Gitonga said the institution had continued to witness more interest from the girls and would continue to support their dreams of becoming great scientists from Africa. “We are grateful to Asharami Synergy for spearheading this initiative of promoting more participation of girls in science. With the support of Asharami Synergy and more stakeholders, the future definitely looks bright for Kenyan youths.”

The students who received corporate souvenirs from Asharami Synergy said they were delighted with the choices they had made and looked forward to becoming inventors and renowned scientists with global acclaim.

Branice Kazira Otiende said, “The beauty of science is that it unites people despite their race, religion, and ethnicity as they come together to solve problems facing our society. A great example is the COVID 19 pandemic. That’s why is important to encourage young people especially girls to embrace science by rising against the social stereotypes.”

According to Cherise Otieno, “My perspective of science can be different from your perspective of science. What fascinates me the most about science is that even the slightest of ideas is relevant and counts. Science is immortal and it becomes more interesting as time goes by.”

For Winnie Nduta, “the world of science is arguably the most remarkable discovery of man. Female participation in the world of science is awe-inspiring and it does melt my heart. The fact that science has created room for us to improve our abilities makes me attach great value to it.”

Shirley Munene said, “Girls often shy away from science thinking it’s only for boys or having the mentality that it is hard or complex. We live in a gender equal society where knowledge is open and free for all.”

Kigona Precious said, “Science makes me curious. It pushes me to explore the natural world. I love it as it answers the ‘why’ questions in basically every imaginable question in a mind joggling manner. Through science, many more discoveries will be made, and the world will be a better place for the future generations.”

Lilan Michelle who derives her inspiration from Thomas Edison said, “Millions of women have impacted so many lives through their inventions and innovations, this means that women are very much capable of soaring to greater heights in terms of science. Thus, girls our future in science starts today.”

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Quick Takes ImaliPay Raises Fresh Funding

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L-R: Head of Finance, Enterprise Life Assurance Nigeria Limited, Kelvin Gyekye; Executive Director, Technical, Femi Ogundeji; Managing Director/Chief Executive Officer, Funmi Omo; General Manager, Distribution, Ben-Birch Mensah;and Head Business Technology Solutions,Oludele Akanbi, at the formal unveil of Enterprise Life Assurance Nigeria Limited in Lagos...recently ETOP UKUTT

Report: How COVID-19 Reshaped Nature of Work Obinna Chima The COVID-19 pandemic has accelerated trends that have reshaped the nature of work, which is expected to continue even after the pandemic recedes, a report by McKinsey Global Institute, a global management consultancy services company, has stated.

The latest report by the firm titled: “The future of work after COVID 19,” noted that the pandemic had brought about massive disruption to the workforce, highlighting the importance of physical proximity in work and spurring changes in business models and consumer behavior, many of which are likely to endure.

This research examined the long-term impact of COVID-19 on work across several work arenas and in eight economies with diverse labor markets: China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States.

It considered potential enduring

ECONOMY workforce effects by analysing three groups of trends accelerated

by COVID-19 that may persist after the pandemic recedes, disrupting how and where work is done.

These, it listed to include the shift to remote work and virtual interactions; the surge in use of e-commerce and other digital platforms, and the deployment of automation and Artificial Intelligence.

According to McKinsey, in each case, the pandemic has pushed companies and consumers to rapidly adopt new behaviors.

“We consequently see a sharp discontinuity between the level of adoption before and during the pandemic. The extent to which these trends persist after the pandemic remains to be seen, but there is growing evidence that many of the new behaviors will persist, even if at somewhat lower levels than the peak.

“We aim not to be predictive

but instead to identify a few key factors for each trend that might alter the trajectory of change and momentum in consumer and business behavior in the years to come. For example, the level at which remote work persists depends on companies’ ability to devise work models that balance worker flexibility with the greater effectiveness of in-person work for several key activities.

“The potential acceleration of automation depends on whether firms continue to invest in those technologies to reconfigure work and capture broader opportunities after the pandemic. A set of assumptions on the possible trajectory for each trend, with country variations, forms the core of our post-COVID-19 scenario modeling,” it added.

It stated that remote work and virtual meetings were likely to continue, albeit less intensely than at the pandemic’s peak, with knock-on effects for real estate, business travel, and urban centers Furthermore, it noted that perhaps, the most obvious impact

of COVID-19 on the labor force was the dramatic increase in employees’ working remotely.

“While telecommuting has been possible for many years, remote work during the pandemic was supported by rapid deployment of new digital solutions, such as video-conferencing, documentsharing tools, and expansion of cloud-based computing capacity.

“Countries quickly designated essential workers who had to be on-site and told everyone else to stay home. That experience proved some of the benefits of remote work, including greater flexibility for workers and more efficiency for businesses.

“How much will stick is uncertain, but employers and employees who can work from home agree that remote work—at least for part of a workweek—is here to stay,” it added.

To determine how extensively remote work might persist after the pandemic, the firm analysed its potential in more than 2,000 Continued on page 24

FG Delegation to Understudy Egypt’s Siemens Power Project Emmanuel Addeh in Abuja President Muhammadu Buhari has directed the ministry of power to collaborate with the Egyptian government on the effective implementation of the Presidential Power Initiative (PPI), otherwise known, as the Siemens Project.

The president’s instruction will see a delegation from Nigeria visit Egypt to, according to the Minister of Power, Mr. Sale Mamman, understudy the country’s own success story with the German firm.

In July last year, the Federal Executive Council (FEC), approved the payment of €15.21

CAPITAL MARKET million (about N6.9 billion) offshore and N1.708 billion onshore as part of Nigeria’s counterpart funding for the deal, which has somehow stalled since then.

In three phases, the deal is expected to focus on essential and quick-win measures to increase the system’s operational capacity to 7000MW and to significantly reduce Aggregate Technical, Commercial and Collection (ATC&C) losses.

ATC&C is the difference between the amount of electricity received by a Distribution Company (Disco) from the

Transmission Company of Nigeria (TCN) and the amount of electricity for which it invoices its customers.

Siemens is expected to provide general technical training on core competency areas as well as training for employees of Nigeria’s 11 electricity distribution companies, the TCN, and regulators, on all the equipment and software being provided by Siemens.

In phase two, the deal will target the remaining network bottlenecks to enable full use of existing generation and distribution capacities, bringing the system’s capacity to 11,000MW, while it is meant to develop the system up to 25,000MW in the

long-term, in the third phase.

In a statement in Abuja, Special Adviser on Media and Communication to the Minister, Mr Aaron Artimas, noted that Mamman spoke of the president’s directive while receiving the Egyptian Ambassador to Nigeria, Ihab Moustafa Awad, in his office at the Power House.

The minister further disclosed that the president had already intimated him that Egypt had successfully rehabilitated and restored its power sector through its collaboration with Siemens, saying that there was need to look at the success story.

Continued on page 24

ImaliPay, an African-based fintech start-up is reshaping the future of work in the gig economy.

Owing to this, the Australian venture capital firmTEN13 reputed for investing in top-tier start-ups has invested an undisclosed amount of pre-seed funding in ImaliPay. A statement revealed that with this, ImaliPay joinsTEN13’s growing fintech portfolio as the likes of Chipper Cash and Bookipi.

Other investors included in the raise are; Finca Ventures, Optimiser Foundation, Mercycorps Ventures, Changecom, and super angels from Norway, Nigeria, UK, and Kenya.

It explained that the primary aim of the investment was to expand and accelerate the firm’s growth and footprint in Kenya, Nigeria, and South Africa to be the one-stop-shop for gig workers’ financial needs.

TEN13’s backing of ImaliPay followed a recent string of events that had elevated the visibility of Africa’s Fintech start-up scene.

“We believe this is a perfect opportunity to introduce our growing international network of investment professionals and investors to one of the most exciting emerging Fintech companies in Africa, “ said TEN13 Managing Partner, Stew Glynn.

“The growth in the African gig workforce is being propelled by the growth in digitisation and smartphone penetration. Gig workers constitute a significant proportion of the economy within ImaliPay’s target markets and this market segment is expected to grow rapidly overthenextdecade.“ImaliPayoffersgigworkersaone-stop-shopof financial services such as the ability to seamlessly save their income and receive in-kind loans through a “buy now, pay later” model tied to their trade.

SouthBridge Announces Joint Venture

SouthBridge Investments (SBI) and New African Capital Partners (NACP) have announced the launch of their joint venture - SBNA. SBNAwillactasa“permanentcapitalfund”aimingtoattractinvestors who take a long-term view on Africa. The joint venture intends to directly invest in Africa’s future with long-term capital, focusing on FinTech, the financial sector integration, and micro and meso finance.

The CEO and co-founder of New African Capital Partners, Charles Kié, will head SBNA. His professional career has included top jobs at Citibank, Banque Atlantique, Ecobank and AFC (Africa Finance Corporation), before co-founding NACP in October 2018 with Paulo Gomes.

The financial sector remains critically important to the continent’s development. Long-term capital, modernisation, and investor commitment are key to the transformation of one of the world’s most promising banking markets.

“With a substantial rate of return, the financial sector is set to attract more flows and generate many more opportunities. In this particular area,SBNAwishestofocusondigitalization,inclusionandsustainable finance. Efficiency and technology are expected to open the banking system to the millions of people who deserve and need it.

“Tofulfillthesegoals,SBNAbringstogetherAfricanknow-how,strong financial, banking and technology skills, experience and knowledge.

Twitter Tackles COVID-19 Misinformation

Twittersaiditwouldapplywarningstotweetsthatcontainmisleading informationaboutCOVID-19vaccinesandimplementastrikesystem of enforcement that could see users permanently banned for repeat violations.

Thesocialmedianetworkstartedpromotingpublichealthinformation before COVID-19 was declared a global pandemic. It also aimed to remove demonstrably false or misleading content about the virus that had the highest risk of causing harm.

Since introducing its COVID-19 guidance, it said it had removed more than 8,400 tweets and challenged 11.5 million accounts.

Katy Minshall, Twitter’s head of UK public policy, said the company recognised the role it played in giving people credible public health information.

“Wecontinuetoworkwithhealthauthoritiesaroundtheworld-including (Britain’s health service) the NHS - to ensure high visibility access to trusted and accurate public health information on our service, including about COVID-19 vaccines,” she told Reuters.

“Strategic partnership with AAAM will facilitate the implementation of the Bank’s Automotive programme which aims to catalyse the development of the automotive industry in Africa as the continent commences trade under the African Continental Free Trade Area”, President of Afreximbank,

Prof. Benedict Oramah

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T H I S D AY ˾ ͱ˜ 2021

BUSINESSWORLD REPORT: HOW COVID-19 RESHAPED NATURE OF WORK tasks used in some 800 occupations across the eight focus countries.

It revealed that the pandemic demonstrated that much more work could be done remotely than previously thought, including business sales calls, legal arbitration and trials, doctor visits, classroom learning, real estate tours, and even expert repairs of the world’s most sophisticated machinery made with the help of virtual reality headsets.

It also found that some work that technically could be done remotely are best done in person. For instance, schooling went online during the crisis, but parents and teachers alike noted a loss of effectiveness, particularly in the instruction of young children and students with special needs, it added.

But, negotiations, critical business decisions, brainstorming sessions, providing sensitive feedback, and onboarding new employees are examples of activities that may lose some effectiveness when done remotely, it added.

FG DELEGATION TO UNDERSTUDY EGYPT’S SIEMENS POWER PROJECT

“The president had reasoned that obtaining more information from Egypt will enable our country to maximise our agreement with Siemens towards the total overhaul of our power grid and distribution systems,” he said.

Describing the visit of the Egyptian Ambassador as timely, Mamman assured that the ministry would leverage on the development, not only concerning the Siemens project but also on renewable energy which he said is highly needed to supplement Nigeria’s national power grid.

The minister accepted the ambassador’s suggestion to visit Egypt for a better understanding of the Egyptian power sector and the deepening of collaboration in the other sectors within the power value chain.

Earlier the ambassador revealed that since his assumption of duties, he had been visiting some key ministries in pursuit of areas of mutual collaboration.

Group Business Editor

ÌÓØØË ÒÓ×Ë Capital Market Editor

Goddy Egene

Comms/e-Business Editor

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Attah: It’s Time to Monetise Nigeria’s Gas Resources Peter Uzoho The Managing Director of the Nigeria Liquefied Natural Gas (NLNG) Limited, Mr. Tony Attah, has stressed the need for Nigeria to urgently harness its abundant gas resources for national transformation before time runs out on the country.

He said with Nigeria’s richness in gas potential coupled with its large population which presents a good market for gas, there was need for the country to be more deliberate and focused in diversifying into gas.

Attah advanced his thoughts recently at the 2nd virtual Nigerian Gas Association (NGA) Industry Multilogues, with the theme: “Powering Forward, Enabling Nigeria’s Industrialisation via Gas.” He regretted that Nigeria and Africa still suffer from lack of access to energy and energy poverty despite the vast gas resources available to them.

“So, energy is in full transition and we believe it’s time to monetise Nigeria’s gas today,” he said.

He stated that Nigeria should take a cue from Qatar that had utilised its gas resource to transform the nation through a deliberate and focused policy of the government, assuring that such was possible and achievable in Nigeria.

He explained: “We just touched on a quick case study of Qatar. Someone mentioned Qatar already from a poor fishing country to a gas giant and it took just 10 years, which is why we, as Nigeria LNG, firmly believe in the conversation and the narrative about the declaration of the decade of gas.

“We believe it is possible. If you look at Qatar from 1995, when they really went into gas development, we were just two years behind Qatar. So, Qatar’s first LNG was in 1997.

“Nigeria’s first LNG was in 1999, just two years behind. But then, within 10 years, because of the deliberateness of the government and focus on gas, they have gone to 77 million tonnes and we are at best, 22 million tonnes.”

Attah noted that the company had made major inroads in gas development with the support of the Minister of State for Petroleum, the Group Managing Director of NNPC, the Executive Secretary of NCDMB and its shareholders -NNPC, Shell, Total and Eni, especially taking the ultimate decision for Train 7.

He, however, pointed out that the Train 7 was only going to

add about 8million tonnes to take the existing six trains to 30 million tonnes while Qatar had recently taken a Final Investment Decision (FID) for 30 million tonnes plant, thereby establishing its dominance, deliberateness and focus on gas. He added that Qatar had made their gas potentials to count for them.

Attah assured that the Nigeria LNG would continue to deliver value to the nation, noting that the company was a success story and believed it could get much bigger.

Highlighting the company’s contributions and value addition to Nigeria, Attah stated that, with 23 dedicated ships taking the national flag round the world, it was showcasing Nigeria.

According to him, the NLNG remains that biggest made-inNigeria product, establishing the presence of Nigeria globally but

more importantly in the energy space.

Noting that having contributed more than $100 billion to the nation in terms of revenue, $35 billion dividends to the nation and $38 billion in taxes since the company became a taxpayer, it believed that tapping more of the nation’s gas was the way to go.

While acknowledging that Train 7 was an opportunity for the country, Attah contended that based on what Qatar had just done, Train 7 for them, was no longer ambitious if Nigeria was really going to tap into making it count.

He pledged the company’s support of the federal government’s ambition to push on the decade of gas, saying the company remained the galvanising platform for the decade of gas actualisation.

Attah further said: “We offer

ourselves as partners to the government, but most importantly, we say, we are available.

“If you can produce the gas, we can take it because the whole conversation around ‘show me the market, I will produce and the market says show me the gas, I will buy it’, we think Nigeria LNG is set to break that.

“But overall, gas is the future.

That future is now, and just as the Minister of State has made us to realise, gas is food in fertiliser.

Gas is transport as you saw in the Autogas project that was declared.”

He added: “Gas is life, as a matter of fact, for cooking, for heating, for existence. Gas is development in manufacturing, gas is power. Gas is everything.

“We think it’s time for gas.

It’s time for Nigeria to diversify and that is why we fully support the decade of gas.”

AfCFTA: Experts Task Nigerian Manufacturers on Value Addition Oluchi Chibuzor Nigeria has been advised to transit from resource-based economy to one driven by value-addition and processing in other to benefit from the recently signed African Continental Free Trade Agreement (AfCFTA). This was emphasised by stakeholders at an interactive session of the Nigeria Association of Agricultural Journalists (NAAJ).

Speaking in Lagos, the Managing Director and Chief Executive Officer of JR Farms Ltd, Mr. Olawale Opeyemi, warned that the nation could become a dumping ground if it continues on the trajectory of not adding value to its agricultural products.

“Nigeria will unfortunately not have the comparative advantage

to succeed with this trade. It is cheaper to produce everything else than in Nigeria, most likely the country will end up to be a dumping ground.

“I think West African will be really affected, there is already competition between the Anglophones in West Africa; we already know there are economic tensions between Nigeria and Ghana, it is going to continue even with the trade as everyone will be protective.”

He also said, aside the issue of logistics, airlifting for the landlocked countries, the members of the Common Market for Eastern and Southern Africa (COMESA) are well ahead considering the level of free trade agreements within the region that is made

up of about 21 member states stretching from Tunisia to Eswatini.

“Already in those areas they have their level of free trade; they can move freely, for example, my machines going to Zambia will move from Lagos to Durban, from Durban to Lusaka. I am not going to pay other than the handling and is not as if the South Africans will take fees from me.

“At their own level at COMESA they already have this working and have a lot of free trade movement already working for them.

“In Zambia, you will see many South African businesses there.

If you go to Botswana you will see the same thing - everything is intertwine. So, they already

have a lot of trade, banks are similar; the telecommunications is there; and the synergy is so strong,” he stated.

Further speaking on the challenges that could arise from the trade pact at the sub-regional levels, Opeyemi opined that, “My major concern for the free trade is logistics; I think this will be a major problem for West Africa, moving trucks around East Africa is not a problem and not expensive.

“You may be paying $500 to $1000 depending on the country you are going to. This is scientifically calculated, even the local taxes, the meters are there, they keep reading as you move around. All these things are scientifically calculated.

“Logistics, in terms of air lifting will be a problem. Many countries are landlocked; it will be a problem for those landlocked countries within Africa. So the cost of moving freight will be a big problem,” he added.

“The aim of exporting is to get foreign exchange and you do not need to export to America, because the processes and embargo are lesser in Africa.

“You do not need to get USDA certification to export to Ghana, Rwanda. Unfortunately, our people are not seeing these opportunities because when you are looking at western world they will kill you with policies as they do not want you to bring in the goods.”

Nestle Nigeria to Pay Higher Dividend Despite Reduced Profit Goddy Egene Nestle Nigeria Plc has decided to dip its hands into its retained profit to pay shareholders higher dividend for the year ended December 31, 2020.

The move is in order to maintain its robust dividend policy.

Nestle Nigeria Plc is well known for rewarding shareholders with good dividend.

Although the company’s profit fell 14 per cent from N45.683 billion to N39.212 billion, it has recommended a higher dividend payment ratio.

The directors recommend the

payment of a final dividend of N35.50 per share having earlier declared an interim dividend of N25, to bring the total dividend to N60.50. The dividend payout amounted to N47.95 billion, which is higher than the N39.212 billion profit recorded in 2020.

The proposed final dividend of N35.50 comprise N24.50 from the after tax profit for the year ended 31 December 2020, and N5.00 and N6 from the after tax retained earnings of the years ended 31 December 2019 and 2018, respectively.

Although Nestle reported increase in top-line, its bottomline took a beating due to high

financing cost, the high inflationary pressure, increased excise duty, value-added tax, and the coronavirus pandemic.

Net financing cost soared by 302 per cent from N938 million to N3.78 billion. The increase in finance cost was primarily due to a multi-fold increase in foreign exchange losses to N1.7 billion from N37.3 million in 19.

Consequently, profit before tax fell from N71.124 billion to N60.638 billion, while profit after tax printed at N39.212 billion, compared with N45.683 billion in 2019.

Commenting on the results, analysts at FSDH Merchant Bank

said the company’s margins were hit hard during the year with (earnings before interest, tax, depreciation and amortisation (EBITDA) falling 9.2 per cent to N72.2 billion. This led to a 286 basis points (bps) decline in the EBITDA margin to 25.1 per cent in 20.

“The operating and net margin slumped 293 bps and 242 bps, to 22.4 per cent and 13.7 per cent, respectively, in 20. The profit before tax for both the segments declined in 20. Food segment profit slipped 15.8 per cent to N39.6 billion, while beverage segment profit edged 0.8 per cent lower to N24.8 billion in

2020,” the analysts said.

Explaining, its response to the COVID-19, Nestle Nigeria said it engaged with internal and relevant external stakeholders to ensure the safety of its people while keeping its business running to meet the needs of consumers across the country.

“We worked alongside the Manufacturers Association of Nigeria (MAN), Nigeria Employers’ Consultative Association (NECA), Association of Food, Beverage and Tobacco Employees (AFBTE), Nigeria Centre for Disease Control (NCDC) and other stakeholders to set up guidelines and necessary precautionary safety measures

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Zenith Bank Shows Resilience Despite the headwinds that characterised the economy in 2020, Zenith Bank posted improved financial results and rewarded shareholders with handsome dividend payout, writes Goddy Egene

Onyeagwu

I

nvestors in banks have been apprehensive over the returns they would get on their investments for the 2020 financial year due to the headwinds in the banking sector.

Although the entire economy had suffered from many challenges compounded by the covid-19 pandemic, the banking sector was affected more due to regulatory pressure.

A report by Augusto & Co last year had noted that Nigerian banks’ earnings and profitability were expected to decline in 2020.

Earnings from banks’ core business were projected to decline in the short term due to an expected rise in impairment charges and lower yields on their loan books. Also, the contractionary monetary policy stance, fueled by discretionary Cash Reserve Requirement (CRR) debits by the Central Bank of Nigeria (CBN), was expected to affect banks’ overall performance in 2020.

Hence, many investors were highly apprehensive, wondering what the earnings season has in stock for them.

However, Zenith Bank Plc broke the ice to be the first to announce its audited results for the year ended December 30, 2020, showed high resilience and recorded improved performance and recommended higher dividend for the shareholders. Zenith Bank Plc posted net interest income of N299.682 billion, up from N267.031 billion in 2019, while net fee and commission income stood at N79.332 billion as against N100.106 billion in 2019. Impairment charges rose from N24.032 billion to N39.534 billion.

Profit before tax (PBT) grew by 5.2 per cent from N243.294 billion to N255.861 billion, just as profit after tax (PAT) rose by 10.4 per cent to N230.565 billion from N208.843 billion in 2019.

The board has proposed a final dividend of N2.70 per share, to bring the total dividend to N3.00 having paid an interim dividend before now.

Loans and advances improved from N2.306 trillion to N2.779 trillion, while customers’ deposits rose from N4.262 trillion to N5.339 trillion. Total assets rose from N6.347 trillion to N8.481 trillion in 2020.

Commenting on the results, analysts at Cordros Securities stated that Zenith Bank’s performance was above their performance. According to the Lagos-based firm, it had had expected that the combination of a slowdown in business

activities due to the pandemic and continual sterilisation of funds by the Central Bank of Nigeria (CBN) would result in weak income generation.

“However, the bank was resilient during the period, with this positive performance ultimately propelled by the strong balance sheet management and much-reduced tax expense,” it added.

Cordros Securities noted that as witnessed all through 2020, non-interest income (NII) generation was strong, settling 8.5 per cent higher at N251.75 billion, explaining that the strong growth recorded was supported by expansions in foreign exchange (FX) revaluation gains (+276.4 per cent to N43.44 billion) and gains on investment securities (+3.3 per cent to N121.68 billion).

“This expansion in NII, alongside the growth in net interest income, led to a 7.7 per cent increase in operating income to N511.89 billion,” the analysts said.

They noted that operating expenses(opex) growth was moderate, as the bank continued to focus on cost management in the face of moderate gross earnings growth.

“Opex grew by 10.4 per cent to N256.03 billion, with the most pressure exerted by other operating expenses (+16.9 per cent to N102.76 billion) such as information technology (IT) and maintenance costs. Consequent to the Opex growth relative to operating income growth, the bank’s cost-to-income ratio (ex-LLE) settled higher at 54.3 per cent (2019 50 per cent).

Also, profitability was stronger, with PBT settling 5.2 per cent higher. However, PAT was 10.4 per cent higher, on account of a 26.6 per cent decline in income tax expense,” they stated.

Breaking down the performance, analysts at Meristem Securities stated that Zenith Bank Plc’s gross earnings in 2020 were supported by non-core income, particularly FX revaluation gains following the devaluation of the Naira during the period.

According to them, the bank recorded a 276.44 per cent growth in FX gains which accounted for 65.42 per cent of the growth in gross earnings in 2020.

“Strong growth (+28.57 per cent) in interest earning assets helped keep interest income afloat as the interest rate environment stayed depressed during the period. Trading income

was, however, a beneficiary of the relatively low interest rates as the bank was able to book significant capital gains on its investment securities. “Expectedly, fee-based income declined significantly by 20.75 per cent owing to the new fee regime on electronic transactions which became effective in January 2020. By and large, the bank’s 2020 gross earnings which grew by 7.53 per cent to N696.45 billion outperformed our expectations by 4.41 per cent. However, as noted above, growth stemmed mostly from a volatile income line–FXrevaluation gains,” Meristem Securities said.

The firm explained that while the bank’s strong assets growth is commendable, it did not translate to a growth in net interest margin (NIM) despite an 18.45 per cent decline in interest expense. This was partly because some of the growth in loan book was due to the translation effect of foreign currency (FCY) loans following Naira devaluation.

“NIM thus fell to 7.90 per cent (vs.8.20 per cent in 2019).After moderating in Q3:2020, impairment charges spiked in Q4 2020 to provide adequate cover for stage 3 loans following a significant write-off of N53.81 billion. Management has guided that it expects a higher CoR o f2.00 per cent in 2021.

“Cost-to-Income ratio inched up to 50.00 (vs.

48.80 per cent) on the back of higher impairment charges, information technology (IT) spending (to support the business continuity plan triggered by the pandemic), and general inflationary pressure,” they said.

The analysts said although the bottom line grew by 10.40 per cent to N230.57 billion, supported by lower income tax, both return on average asset(ROAA) and return on average equity (ROAE) declined marginally to 22.40 per cent and 3.10 per cent respectively.

“We expect funding costs to remain within the 3.00 per cent to 3.50 per cent band, while NIM should improve given the current trajectory of interest rates, especially as management has guided that loans will be repriced,” they said.

Meristem Securities noted that Zenith Bank operated from a solid funding base which continued to support assets growth.

“While the bank has maintained an excellent prudential standing so far, we are concerned about adverse changes in loan quality due largely

to the pandemic. We refer in particularly to the reclassification of N359.01 billion Stage 1 loans to Stage 2 during the period. This could pressure asset quality which currently stands at 4.29 per cent in 2021,” they said.

One that stood at in the results of Zenith Bank is the retail deposits that witnessed a growth of 24 per cent despite the pandemic. Explaining the development, the Group Managing Director of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, attributed to the acceleration of retail and digital banking initiatives. According to him, retail deposit moved from N1.1 trillion to N1.7 trillion, with savings moving from N600 billion to N1.1 trillion and accounting for 88 per cent increase in deposits.

Onyeagwu has assured stakeholders that the bank would remain resilience, noting that it is a market leader, creative and has the capability to respond to adversity as they come. “ As long as we are able to reinforce that, we would ensure that we are able to drive resilience within the team, we would drive doggedness, and we would also diligence to navigate the landscape.

We would be expanding our digital and retail banking initiatives because we can see the progress and impact it has had on our activities.

“We would also ensure that we key into emerging opportunities in the country as they continue to unfold. Two key areas are agric and ICT. So, we would reinforce our identity as Zenith, we would retain our market leadership.

The important thing for me is that I have a brilliant and excellent team,” the Zenith Bank boss declared.

Responding to a question on the bank’s acquisition plan, Onyeagwu said: “First is to say that Zenith Bank has grown organically, we are disciplined, we are focused and we look for where to extract value.

“However, we would not do a deal or a corporate action just for the sake of doing it. If we find a deal that fits into our profile, of course we would do a deal. It has to be something that fits into our profile.

“Until we find such, we would continue to grow organically. We are already in Ghana, we are in Sierra Leone, Gambia, UK and by no means that is not to say that we cannot expand beyond this location. It depends on what we see as events continue to unfold.”

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Adegbami: MFBs Receive Little Support from Government ManagingDirector/CEO,MainstreetMicrofinanceBank,Mr.AdegokeAdegbami,isalsotheGeneralSecretary, NationalAssociation of Microfinance Banks, Lagos. In this interview, he speaks on the central bank’s revocation of licences of 42 MFBs and other topical issues in the sub-sector. Oluchi Chibuzor provides the excerpts: What was 2020 like for Mainstreet Microfinance Bank?

As a bank, over the last 12 months, we have done quite a few things that we can look back and be grateful to God for and we can conclude that we have made a lot of progress in the last 12 months. Considering the peculiarity of the year 2020, I think our most significant achievement is the fact that we have all survived the COVID-19 pandemic so far in one piece. There were also the issues of #ENDSARS and other security challenges, which are peculiar to Nigeria while COVID-19 is a global crisis. That we have survived all these, is a great achievement in my opinion. We can now look at a few qualitative and quantitative achievements we have made.

On the quantitative side, we have grown our total assets by 81 per cent year on year. Our portfolio has grown by 80 per cent. Our gross revenue and profit before tax have grown 71 per cent and 74 per cent respectively. To be able to fund the growth in portfolio, we have grown our deposit moderately and debt funding significantly.

Despite the challenges of the last 12months, our bank has won a number of awards and recognitions.

At the Fintech Innovators Merit Award 2020, we won ‘Africa’s Most Innovative Micro Lending Service Brand of the Year 2020’. We were recognised as the ‘Microfinance Bank of the Year 2020’ by the Adegbami Classic Magazine. We were also selected as the ‘Microfinance Bank of the year 2020’at the Peace on the parts of management and board. Some Legend Award. Finally, our Bank gained international people adopted wrong business model, particularly recognition at the ‘Global Banking and Finance those who assume that microfinance is just a small Review Award’. As the only OFI (apart from Bank version of a commercial bank. Some are victims of of Industry) from Nigeria in the 2020 Awards, we circumstances. There are normal business problems got two classes of awards as ‘Best Microfinance Bank that you should be able to overcome over time, Nigeria 2020’ and Best Bank for Auto Loans 2020’. but if unfortunately, those problems coincide with As the MD/CEO, I was awarded ‘Banking CEO wrong timing like recession or pandemic, it becomes of the Year Nigeria 2020’. All these are testaments extremely difficult to survive.

As MFBs, we receive little or no support from to the impacts of our efforts on the society and the assurance that the future is bright for us with the government and this is very serious because microfinance banks everywhere around the hard work and commitment. world normally receive a lot of support from the The CBN revoked licenses of about 42 MFBs government. This is because we are serving high recently. What were the factors responsible risk section of the economy. The risk involved in for the revocation and how does this affect lending to SMEs and low-income class is very high, particularly in Nigeria. Yet we take the risk. confidence in the sector?

My first reaction was that the way the media Commercial banks will only lend to rich people reported the news of revocation of the licenses was whom they perceive as less risky. They can collect misleading. There is a major part of the news that deposit from anybody, including beggars, but they the media avoided for reasons I don’t understand. will only lend to the rich. They create a situation That was the fact that all the affected MFBs were where you collect from millions of poor and those that had closed shops on their own for a middleclass and make the money available for a long time. The CBN made it clear that these 42 few rich people. Ironically the society likes them MFBs have been out of operations for some time, for helping to increase the economic inequality in and so, the revocation was just a formality which the society. That is the reason why even some of has to happen by the laws establishing the CBN the low-income people that we serve will like to and NDIC. To be fair to the CBN, they briefed keep their money with these commercial banks the leadership of our association about two weeks and come to microfinance banks to collect loans. before it became news headline. We still have more Some of them even expect us to charge the same than 800 MFBs in Nigeria today, serving millions interest rate with these commercial banks sitting of Nigerians. We have some of these MFBs that on top of money contributed by the high and are as big as some commercial banks in Nigeria. low. So the government owes us a lot, for serving There are new licenses and new acquisition of the vulnerable people without which the level of existing MFB license happening every day. You violence and criminality in the society would have should report all these too. I don’t also subscribe been more than what we have now. The society to the notion that the information should not have should also appreciate and support us to serve been leaked to the public. The public has the right them better. In my opinion, the solution to our to know and to know the correct and complete economic problems lies more with the microfinance truth. Half-truth is still a lie. In reality, there is no operators and MSMEs. The government should do way anyone could have completely kept this kind everything possible to support us. On the issue of of thing away from the public. At least, NDIC confidence, I believe what matters is for the society has to do its work and CBN has to do its work. to be properly informed. The reality is that whatever They are accountable to the public because they has happened is not peculiar to our sector. You know are public institutions. As to the factors responsible, that the CBN recently revoked licenses of some there are many factors. Some of them are common Payment Service Providers. Meanwhile, it’s not long while others are peculiar to individual organizations ago that the CBN licensed those Payment Service and people. One thing that is common is the fact Providers. The regulatory policy for the Payment that doing business in Nigeria is very difficult and Service Providers is a recent one. But the way the expensive, and it is not getting any better. The rate media reported that was different and very mild of business survival is very low, particularly for compared to the way that of microfinance banks small and medium businesses. This is not peculiar was reported. They also revoked the license of one to microfinance sector, it cuts across. Check all the of the switch license holders. Attention should not sectors and industries within our economy, you be only on the negative, people should look at will see the same trend. In my opinion, MFBs have the positive too. They should look at what some actually done better than some other sectors in of us are doing and the number of people we terms of business survival in Nigeria. There are are reaching. Today, we still have over 800 MFBs, also a number of regulatory policy defects that many of whom are doing very well. You cannot negatively affect the operational success or failure stop patronising people who are doing well simply of MFBs. There are other specific factors like poor because some people fell by the way side. There corporate governance, lack of capital, liquidity are thousands of road and motor accidents in a problem, poor management, lack of discipline year. Yet, we have not stopped plying roads or

times for certain people and certain businesses.

That trend will continue and people will adapt and adjust. We should expect more of government intervention programs, stimuli, palliatives and so on. The problem in Nigeria remains the fact that these programs are not always properly thought out and strategically directed. As a nation, we will continue to struggle with our debt burdens. For the microfinance sector, the business will always be there. In fact, a recession will naturally increase the available market for microfinance businesses, the number of people that need microfinance services will increase. At the same time, the risk of the microfinance business will increase and that simply means we must be very careful in our business and customer selection. We need to beef up our risk management system. We need to deploy technology; we also need more money to deploy. The bottom line is that microfinance is going to become very critical to the recovery of millions of active people at the bottom of the economic pyramid. The government must note this and make conscious efforts to support microfinance operators. The government must also do this without creating a monopoly in the market. Creating a monopoly will be counterproductive.

riding vehicles. Even when you have very fatal accident, you still need vehicles to evacuate people from the scene, whether they are dead or alive.

People die of wrong diagnoses from time to time, yet we have not stopped patronising doctors and hospitals. The same reality is applicable here.

How do you see the global and national economy and the microfinance sector in 2021?

Of course, you know I am an accountant and not an economist. There are different predictions about the global and national economies for 2021.

All of them point to the fact that economy will begin to recover at different degrees, at different times during the year, depending on the peculiarities and quality of responses by governments and people around the world. One of such drivers of events in the year is the availability of vaccine against coronavirus. Others are the global distribution model and effectiveness of the vaccine. The effectiveness news you have here and there now are products of clinical trials. As far as I am concerned, that is still theory. The reality of the effectiveness and actual side effects will be known after live applications to millions of people. But one thing is clear. The world is better positioned to respond to the pandemic than it was in 2020. You must have read about new variants of the virus in different countries around the globe which are products of the mutation of the common variant? I can tell you that the new variants did not come as surprise to serious stakeholders. The mutation of the virus was predicted and anticipated. In fact, based on scenario planning models, a number of advanced nations have mapped out their responses to the new variants, unlike the first one that caught everyone unawares. To that extent, it can only get better in 2021. However, much still depends on the specific responses by individuals, organisations and governments. Some will fare better while others may fare worst. In general, people will find ways around the handling of coronavirus. There will be protocols to follow, but people will adapt better.

I just returned from a visit to some East African countries, I took the COVID-19 test in each of the countries I entered. In fact, there was a country where they told me I must take polio vaccine.

I never knew that adults are supposed to take polio vaccine. You will have such protocols and procedures, but life must continue. For Nigeria, the economy will bounce back. Not necessarily because of anything we are doing better, but in response to recovery of the global economy and the oil market.

Further devaluation of naira is not unlikely. General income decline, higher inflation, low purchasing power, unemployment and uneven distribution of income are possibilities. As a people, we will find ways around it. We are a very resilient people. With good planning and critical thinking, a number of businesses will figure things out while others may drop by the way side. Of course, the pandemic has created a new economy; this is the best of

What will be your advice to operators and regulators in the Nigerian microfinance sector to ensure sustainability?

Honestly, I think that question regarding operators shouldn’t be directed to me. I am an operator and I need to listen to non-operators advise us. However, since you have asked the question, I will make an attempt to highlight some of my thoughts. Firstly, I believe it is very important for a MFB to drive liquidity aggressively. With the level of disruption and uncertainty that we have, your survival and ability to withstand shocks depends largely on the level of liquidity you have. Secondly, all of us must prioritise risk management and corporate governance. We are not talking of only credit risk, but all the risks we are exposed to as MFBs, including those of compliance to laws and regulations. Risk environments are becoming more sophisticated and we must respond accordingly. Right staffing and training are very important here. Thirdly, we must improve on our brand awareness, we must all be deliberate in investing money and other resources in creating awareness of the good work we are doing. You don’t need a huge budget like the commercial banks, but you must deliberately invest in this line based on your level and capacity.

Fourthly, we must all embrace and deploy appropriate technology. Five, there must be efficient cost management. Ensure you only spend on essential things that we directly or indirectly bring the money back to you. Things don’t necessarily have to be expensive for them to be good and effective, the key is to set your priority properly. Six, we all need to be deliberate in driving or beefing up our capital base from profit and external sources. The key word here is being ‘deliberate’. Seven, there must be good performance management. We must work towards a point where every staff delivers some quantitative value to the organisation than cost. The value must be measurable. Eight, we must be sure we deploy the right product, most of us still run on generic products, We need to invest in tailor made products that deliver specific value to specific people or market. Number nine is leadership. All of us at the decision-making levels of our different organisations must do our best to continue to improve our leadership skills. Each of us must develop what is now called ‘Agile Mindset’.

Boards are to be ready to invest in developing leadership capacity of their business managers.

Each of us at management levels also need to take personal responsibility. Don’t spend all your salary on food, use part of it on personal development.

If you effectively increase your learning, you will invariably increase your earning. Ten, we need to continue to adjust our business models and the way we conduct our businesses and serve our customers to align with the reality of today. We have to continue to move gradually away from our brick-and-mortar business models. I need to also add that each of us must strive to drive volume.

You can start small, but you cannot afford to remain small for too long, that is eleventh point or so? Let me stop by saying that what I have mentioned here are not in any particular order.

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27

Adegbami: MFBs Receive Little Support from Government

Wigwe

Sola Olusoji

T

he publication on THISDAY Business page on Monday did not provide a fair analysis of the legal tussle between Access Bank and Seplat Petroleum over the loan to Cardinal Drilling Services Limited. It was a job done for Access Bank.

THISDAY should, in the spirit of fairness, also allow this other side of this dispute. There have been persistent concerns that the ongoing legal battle is no longer about debt recovery. This concern is borne out of what many observers see as a campaign of calumny against Seplat and its Chairman, Dr. ABC Orjiako.

This manifests, among others in wild claims that the surgeon-turned business tycoon owes Access Bank Plc some millions of dollars, which, instructively, keeps changing with each writer.

Obviously, the entire campaign of lies is built on a quicksand of the strange lawsuit, which Access Bank instituted against Seplat, leading to the ex parte orders, interlocutory and Mareva injunctions secured by Access Bank at the Federal High Court Lagos in November 2020. The injunctions were however suspended by the Court of Appeal in January 2020.

Meanwhile, the fact, as has been widely reported in the media, remains that Cardinal Drilling obtained credit facilities from Diamond Bank (now Access Bank) to procure four drilling rigs (CDS Rigs 101, 201, 202, and 203) between 2012 and 2014.

The loan was secured with Deeds of Fixed Debenture tied to Cardinal Drilling’s assets, namely the four specific rigs. But rather than face Cardinal Drilling when the company could not liquidate the outstanding loan of about $85.8 Million, Access Bank sued Seplat (that was not a party to the loan) as First Defendant, Cardinal Drilling (its real debtor) as Second Defendant, Orjiako (that was not also a party to the loan) as Third Defendant, and Kalu Nwosu (former MD of Cardinal Drilling) as the Fourth Defendant in clear violation of well-established principles in law.

To push the perfidy through, Access Bank, through their lawyers, deposed to an Affidavit that: Cardinal Drilling is a sister-company of Seplat; Seplat employed Cardinal as a veritable vehicle, smokescreen, and shell company “in furtherance of the purchase of drilling rigs for their sole benefit, but has refused to liquidate the outstanding indebtedness”; Cardinal transferred the loans disbursed to it to Seplat; Cardinal is a sister-company of Seplat; the said loan was secured with Floating and Fixed Debentures; and Orjiako is the promoter and alter ego of Seplat.

They further averred that, “Unless the Defendants

Orjiako are restrained together with other Directors of the First and Second Defendants (Seplat and Cardinal, respectively), they would strip the assets of the Defendants and dispose them…”; and that unless the Defendants and Directors of both companies are also restrained, “they would place the assets of the Defendants (Seplat and Cardinal Drilling) beyond the reach of this Court and the Receiver/Manager (Kunle Ogunba)” However, as court documents and reports emerging from the courts clearly show, Seplat and Orjiako were never parties to the loan and did not guarantee it. Cardinal Drilling never transferred any part of the loans to the oil company as claimed by Access Bank (without any supporting documents). Also, the rigs were used to execute drilling jobs for other firms, including the government-owned Nigerian Petroleum Development Ltd, a subsidiary of Nigeria National Petroleum Company (NNPC).

Furthermore, Cardinal Drilling obtained the loan with Fixed Debentures, not Fixed and Floating Debentures as falsely claimed by Access Bank and their lawyer. Therefore, in the event of debt recovery, a Fixed Debenture legally confines Access Bank to the four Cardinal Drilling’s assets they were charged to.

Based on these, analysts aver that evidently, none of Access Bank’s claims makes Seplat or Orjiako liable for the loan in question because there absolutely not privy to contract between Access Bank and Dr. Orjiako or Seplat for which any court action or debt recovery enforcement could be pursued against them.

It is an established principle in law that only a party, which directly obtained a credit facility or a party, which guaranteed a loan in writing, is liable to the loaner for a debt.

Also, only a party that is liable for a bank debt in law or in equity can be sued. Thus, they are of the view that to apply for an injunction against the assets of a party that is not liable for a bank debt, as Access Bank had done, is an aberration unknown to Nigerian laws in the first place.

“What is even more bizarre is that while Cardinal Drilling has not denied indebtedness to Access Bank, Access Bank and its lawyer and media campaigners are insisting that it is Seplat and Orjiako, not Cardinal, that owe them”, a legal practitioner, who has been following the development quipped.

Many who have followed Seplat’s track record of dedication to highest ethical standards and its blossoming business also think it is absurd to imagine that Seplat’s assets, including five Oil Mining Licences (OML), which are not only immovable assets, but are also producing crude oil on a daily basis could easily be moved out of the reach of the court.

Or that a firm with impeccable local and international reputation in raising and servicing debt; a firm that just raised $260 million, being its obligation towards the $650 million financing for the ANOH Gas Processing Plant (a record 50:50 Joint Venture with the Nigeria Gas Company, a subsidiary of the NNPC); a company worth over $2.8 Billion in assets and about $500 Million in market capitalisation; a company listed on both the London Stock Exchange and Nigeria Stock Exchange since 2014; would strip its assets or play “hide and seek” over a $85.8 Million alleged debt if it truly owes.

These facts and Seplat’s standings as against Access Bank’s bogus claims were well reflected by the Court of Appeal in suspending the injunctions of the lower court.

In suspending the orders of the lower court, the three-man appeal panel specifically held that Access Bank had nothing to lose if Seplat continued to do its business while the litigation lasts. Their Lordships emphatically held that it would be “bad and tragic” to continue to seal the offices of a company that is of such strategic economic import to the nation. Seplat supplies gas to three power plants that are responsible for the 40 per cent of power supply in Nigeria and employs over 400 Nigerians.

“The fear and anxiety expressed by the 1st Respondent (Access Bank) appeared unfounded. It would also not amount to hearing the substantive suit. The Supreme Court has held that where machines and workers would be rendered useless, the court would intervene. Disruption of business should be considered in the issue of balance of convenience. The court will exercise its discretion in suspending the injunction. Practical approach should be adopted and not do injustice to any of the parties. Where considerable hardship will be done to a party, the court will intervene by suspending the injunction or stay it.

“I found substance in the argument. The injunction restraining the appellant from operating is hereby suspended. Order on its accounts are also lifted pending the determination of the appeal”, Honourable Justice Joseph Ikyegh held in the ruling concurred by the two other Justices.

Meanwhile, not a few informed observers have expressed concern that the media trial of Seplat, particularly Orjiako, is an attempt to force the hand of the judiciary in a matter or obtaining in the court of public opinion what Access Bank is unable to obtain from the court of law- forcing the businessman/Seplat to pay a debt not owed.

For instance, many have wondered the media campaigners’ idea of indebtedness and owning a company is. Does one own a company simply by holding shares or equity in the company?

Shouldn’t any serious-minded writer or blogger

bent on unmasking the truth on this matter have at least named all the shareholders, ownership structure, including the Directors of Cardinal Drilling Ltd by conducting “Lifting the Corporate Veil.”

That way, the wind blows and the world would then clearly see the fowl’s rump.

Furthermore, as at today, Seplat is still a highly regulated oil firm owned by very many reputable shareholders from all around the world. Many therefore see the attempt to reduce it to a one-man business owned by Orjiako as pure mischief. They believe that while Orjiako deserves accolades for co-founding this flagship indigenous oil and gas firm, it does not make Seplat his personal property.

It is this fixation on Seplat and Orjiako, including suing these non-parties to the loan in question as First and Third Defendants; this insistence on sealing/takeover of a business of Seplat magnitude and import to the economy; and in particular what observers now see as sponsored campaign of calumny against the person of Orjiako that have led many to wonder if Access Bank is truly interested in debt recovery or it is after asset extortion through corporate bullying.

In the discharge of their duties, lawyers in Nigeria are bound by the Rules of Professional Conduct 2007. For instance, Rule 15 (2) provides that a lawyer shall “keep strictly within the law notwithstanding any contrary instruction by his client and, if the client insists on a breach of the law, the lawyer shall withdraw his service.”

A lawyer shall also not knowingly make a false statement of law or fact. Seplat’s petitions to the Legal Practitioners Disciplinary Committee (LPPC) and the Legal Practitioners Disciplinary Committee (LPDC) are clearly predicated on alleged breach of breach of Rules 1, 15, 24, 30 and 32 of the Rules of Professional Conduct 2007 vis-à-vis palpable falsehood, misrepresentation and suppression of facts by the Access Bank’s lawyer to mislead the court.

Lawyers and several analysts also believe it is within Seplat’s rights. They opine that the fact that Ogunba was once stripped of his SAN rank in 2018 before it was later restored makes it even all the more imperative for LPPC and LPDC to look into the matter with dispatch.

Observers and stakeholders in corporate Nigeria believe that the issues at stake hold enormous implications for Nigeria, hence Orjiako and Seplat should never succumb to any cooperate bullying.

Importantly, they believe that since the bank has approached the courts, the courts should be allowed to do their adjudication, conclusively.

Olusoji, a public affairs analyst writes from Abuja

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BUSINESSWORLD

PERSPECTIVE

How NEXIM is Powering FG’s Non-oil Export Drive John-Mark Ikyaave

T

he business-driven leadership of the Abba Bello-led management of the Nigeria Export-Import (NEXIM) Bank has led to a remarkable turnaround of the bank.

Over the past three years, the NEXIM management team has implemented a suite of reform initiatives, which have helped to reposition NEXIM as a well-managed non-oil export development finance institution that is creating impact as a key driver of the Buhari Plan to boost Nigeria’s non-oil exports.

The bank provided concessionary financing for the revamp of several moribund local manufacturing firms, supported a broad range of firms to expand their production capacities while also leading regional initiatives that would promote increased regional and global trade amongst several others.

The result has been a decent uptick in non-oil export earnings for the country, the creation of thousands of skilled and unskilled jobs as factories expand operations and new openings for work hands emerge.

Thanks to the renewed vigour at NEXIM, Nigeria is now experiencing a growing buildup of financially capable, competitive non-oil export firms that would help maximize Nigeria’s participation in the regional and global market.

The good news from NEXIM provides reasonable cause for optimism about the future of Nigeria’s foreign earnings. Set against the backdrop of declining global oil prices, which accounts for over 50 per cent of foreign earnings, a reformed and stronger NEXIM Bank that is powering the emergence of financially capable non-oil export firms is so crucial and signals the possibility that the non-oil sector might receive the necessary financial boost to help Nigeria hedge against the ominous effects of low global oil prices.

Although, there has been a recent rally in oil prices to about $66 per barrel as economies continue to open, movement and travel has increased after the dark days of the Covid-19 pandemic. But it is a settled fact that the golden era of high oil prices over $100 is finally over.

The shale boom in the United States and the Paris climate accords, have changed the outlook for the future of oil and gas.

With the prospect that major economies like the US, China and Europe will ramp up implementation of green energy policies that would actively try to shift their economies away from oil at a time when the costs for producing oil from shale is declining through technological innovation, it is becoming clearer that oil under the ground, as is the case with Nigeria, might someday be less valuable than oil produced and sold in the coming years.

The stark reality calls for deep and sustained action. Nigeria now has a small window of time left to re-engineer the lopsided structure of its foreign earnings mix. The urgent need to move at blistering pace towards a rapid economic diversification by building local manufacturing capacity and bolstering non-oil exports is more reason why the positive developments at NEXIM, the leading non-oil development Bank, is so significant today.

Increase in Financing of Non-oil Export Firms Consider the Bank’s recent performance statistics.

The NEXIM management has used a targeted approach to significantly improve access to concessionary financing for non-oil export firms. In the past three years, NEXIM Bank processed a record total of 227 financing applications valued at N173billion for a range of non-oil export businesses.

The amount includes a naira component totalling N159.27 billion and a dollar financing portion in the sum of US$37.67million, equivalent of N14.3billion.

So far, the Bank has successfully disbursed over N68 billion to 68 of the 227 beneficiary businesses, while over N30 billion is currently under processing for another batch.

The financing was structured under the bank’s Export Development Fund (EDF) window that is specifically designed to support export-oriented enterprises in the non-oil exports value-chain cutting across different segments from manufacturing, agriculture, solid minerals to services.

The Impacts The historic increase in NEXIM Bank’s financing interventions has handed many non-oil export businesses a much-needed financial lifeline to grow and thrive. Beneficiary operators are

Bello deploying the funds to resuscitate moribund manufacturing plants, while others are scaling up production levels to enable them produce more. These expansions have led to the creation of thousands of decent - skilled and unskilled paying jobs for Nigeria’s teeming unemployed population.

Equally notable is the fact that a greater number of local businesses are engaging in high profile regional and global transactions on the back of the Bank’s financial boost. And, as a result recording higher foreign receipt that have positively impacted the volume of Nigeria’s export earnings in recent time.

Specifically, records show that over the past three years, Nigeria has received about $182.31 million and €203,018.42, the equivalent of N70.40billion, as export proceeds from some of the NEXIM funded projects that have repatriated their income. More of such receipts are expected from other projects that are yet to complete their transaction circles.

Another positive indicator of NEXIM Bank’s impact is that many of the export businesses, which the Bank supports now feature prominently on the list of top 100 exporters published annually by the Central Bank of Nigeria.

The broad and longer-term implication of this trend is that NEXIM is, in effect, powering the emergence of a cross-sectoral and financially resilient network of non-oil export businesses that would collectively lead the charge towards the rapid growth of the country’s non-oil exports.

Result-oriented Strategy A sense of focus and professionalism by the management has been key to NEXIM Bank’s string of successes within the past three years.

Immediately after the Abba Bello-led Management Team assumed office in May 2017, they set to work and crafted a Strategic Action Plan that laid out a clear but ambitious roadmap for the bank.

The plan outlined the Bank’s corporate priorities, performance targets and operational course of action for the period 2018 to 2020.

The Bank’s operations have been guided by a strict adherence to the Bank’s innovative philosophy of Produce, Add Value and Export (PAVE) that is designed to reverse the worrisome trend where primary products (such as cashew nuts, processed leather, cocoa, tobacco, cotton, etc.) dominated Nigeria’s export basket.

As a result, NEXIM has within the past three years expanded its operations beyond powering non-oil start-up business projects to cover the rehabilitation of important industrial manufacturing firms, whose operations were shut down due to inadequate working capital.

This includes the provision of working capital and business advisory services. Companies that have benefitted from NEXIM Bank’s revitalization financing support cut across important sectors such as manufacturing, agriculture, and solid minerals.

NEXIM has also designed and implemented programs targeting key non-oil export commodities as part of an overarching strategy to maximize the scale and depth of Nigeria’s participation in the global non-oil exports market. A good example is the Shea Butter.

Several operators that are into the production and export of Shea butter in Lagos, Ogun & Niger States have received varying levels of financial and advisory support that has led to a significant boost to their production and export levels.

Expanding Nigeria’s Export Basket In fact, as a direct result of NEXIM’s intervention and support for the acquisition of Shea Processing Plants, Nigeria recorded its first major export of Shea butter in March 2018.

Prior to NEXIM’s intervention, Nigeria had no significant footprint in the export of Shea products due to low processing capacity and high incidents of smuggling/informal trade.

This is despite Nigeria’s ranking as the world’s largest producer of Shea, with annual production of 364,000 metric tons, accounting for 45% of global output. NEXIM’s support strategy is helping this trend.

NEXIM has also recorded decent impact in its efforts to help players in the Hides & Skin industry to maximise the benefits of the global leather industry that projected to reach a market value of $306billion by 2027.

The Bank formed a strong development partnership with the Kano leather cluster in Kano and deployed concessionary financing to enable them to scale their operations. Over the past three years, NEXIM funded three (3) companies and assisted them to acquire new machines and retool their operations

towards becoming major players in the global value chain.

Other high impact non-oil commodities and services that NEXIM has supported include the cocoa industry, solid minerals, services sector, and the pharmaceutical industry.

Besides being a major advocate of value-added exports, the Bank also supported the export of raw materials, particularly where the local industries could not fully absorb production or where production capacity can be expanded.

Hence the Bank has also provided working capital to support many companies engaged in cleaning and export of various agricultural commodities and other products. Such commodities include hibiscus flower, dried ginger, sesame seeds, gum Arabic and charcoal, which were exported to various parts of the world.

Driving Intra-Africa Trade Initiatives NEXIM also pioneered several initiatives that would help Nigeria to take full advantage of the opportunities offered by the African Continental Free Trade Area (AfCFTA) that is designed to move exporters up the value chain, promote intra-African trade, create jobs, and enhance export revenues.

Noteworthy is the Sealink Project that is designed to foster regional trade connectivity and facilitate inland waterways operations to support hinterland trade and bulk commodities exports, especially of solid minerals. Last year, NEXIM facilitated the signing of a tripartite memorandum of Understanding (MOU) between NEXIM, Sealink and NIWA (Nigerian Inland Waterways Authority) towards the operation of the project. The Bank is working closely with the National Inland Waterways Authority (NIWA), Nigerian Navy and other private sector partners to ensure commencement of operations within Q2, 2021.

The second Intra-Africa Trade initiative is the Inter-State Road Transit Scheme. This aims to facilitate the transportation of goods by road across Customs territories free of duties, taxes, and restrictions while in transit in line with ECOWAS protocol. NEXIM has undertaken to act as the National Guarantor under the scheme through the issue of insurance bond to mitigate the risk of diversion. NEXIM has also promoted factoring services to foster financial inclusion and provide alternative trade financing support for Micro, Small and Medium Enterprises (MSMEs).

Besides the technocratic edge that the Abba Bello-led Management Team has brought to NEXIM, their ability to engage and build trust/ confidence of critical stakeholders has been a key factor to the string of successes that they have recorded in the past three years. On the strength of the Strategic Action Plan that they laid out shortly after resumption of work, the Central Bank of Nigeria (CBN) in February 2018 released N50billion to NEXIM to enable it ramp up its non-export development intervention programmes.

This amount was increased further to N100bn in December 2020 following effective utilization.

The Bank is also collaborating with the CBN towards managing the N500bn Non-Oil Export Stimulation Facility, which also hinges on the provision of long-term funds to export oriented projects towards increasing value added exports.

Nigeria lost time and convenience during the golden era of high oil prices to grow the non-oil sector and diversify the economy.

Today, the economy is in crisis mode with the reality of tepid oil prices and a bleak world outlook for the oil and gas industry. However, there is also so much that could be accomplished if catalytic institutions like the NEXIM Bank are supported to discharge their mandate to develop and unlock the potential of the non-oil sector to act as a hedge. In doing so, leadership matters. Refreshingly, the Abba Bello-led Executive Management of NEXIM has demonstrated a unique understanding of the Bank’s mandate, the urgency for swift action and the professional competence to deliver remarkable results within the past three years in line with the Buhari agenda to diversify the economy.

They deserve some applause. Government and policy leaders must support the current NEXIM Team as they work hard to maintain the momentum of reform, consolidate the growth initiatives, strengthen institutional structures at the bank while midwifing a new era of sustained growth for non-oil exports. rIkyaave is a public policy analyst based in Abuja

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Chambers: Strategic Leadership, Panacea to Exceptional Performance in Turbulent Times Prof. Andrew Chambers, the world’s First Professor of Internal Audit and Author of the Chambers Handbook of Governance and Former Dean of Cass Business School, in this interview shares insights into how to succeed in turbulent times. Hamid Ayodeji brings the excerpts: Why is the TEXEM, UK programme on Risk Management and Effective Leadership for Superlative Performance during Turbulent Times essential?

Many companies, public sector parastatals and other organisations are finding the pandemic is giving them new opportunities to prosper, while others risk collapse. To exploit the new opportunities, outperform rivals, and mitigate the downside risks, require excellent risk management and a heightened emphasis on quality leadership. How can I plan long term when the future is so uncertain, and I have no idea what will happen next week, let alone several years out? It has always been the case that the only certainty about the future is that the future is uncertain. It is not just COVID—19, which poses challenges: the pace of technological change is just as challenging.

We may not be able to identify the particular future happenings which will be opportunities or threats. Still, we should certainly try our best to define possible future scenarios caused by whatever opportunities or threats that may occur.

And then satisfy ourselves that we could exploit those opportunities or mitigate those threats should they occur for whatever cause. And we may be able to engineer that the opportunities do occur and the threats are avoided.

How can organisations outperform their peers and develop success that endures in this increasingly risky world?

By managing change well. By developing your core competence and knowing what is your competitive advantage. By not becoming too set in our ways as organisations. By having an open, empathetic, participative culture. Success can endure if we are open to change, but the half-life of a ‘formula for success’ (our business model) is getting shorter and shorter.

How can leaders motivate their stakeholders in an era of virtual work, weak organisational performance and slow economic growth?

Leaders need to understand their stakeholders, have a good dialogue with them, support them, and be sympathetic to them. These are not

Take some time to consider whether these are all pulling in the same direction. This TEXEM’s forthcoming leadership programme will give you helpful insights into this.

Chambers costly leadership qualities: they can be present even when organisations are performing weakly, and economic growth is slow. Indeed, during other times when growth is exponential, there is a risk that leaders forget these leadership fundamentals.

Besides auditors, what is the role of other functional managers and general management executives in managing risk?

We often talk about ‘the three lines of defence’.

Line management (all management, including managers of human resources, marketing, sales and finance) and staff are the first line: they are responsible for following best practice and managing risk. The second line of defence is the review functions – such as the chief risk officer, the quality assurance function, the compliance function: they are there to assure that the first line of defence is doing its job well.

The third line of defence is internal audit which independently audits the first and second lines of defence. An important issue is to ensure that a lower line of defence does not rely on a higher line. Some folk point out that there are fourth and fifth lines of defence – external audit being the fourth line and the regulator being the fifth line.

What are public and private sector risks in an era of Covid-19 and increasing social unrest, and how can they be addressed?

We will be exploring this within the programme.

How do we make our strategic plan flexible to allow for changes?

Don’t box yourself into a strategy that has no exit strategy. Regularly benchmark progress against key performance indicators – and take corrective action in a timely way when needed.

Corrective action may mean ditching your failing strategy and will certainly, at the very least, involve amending it to optimise results.

Is this programme only for financial services organisations?

Definitely not. The programme is for all sectors and all sizes of the entity. It is suitable for public and private sector entities - for manufacturers, service organisations, not-for-profit, and financial entities and those working in academia and professional bodies.

How does a company integrate culture, risk and strategy for success?

Yes, these components need to be integrated, and the mission, promise, values and ethics of the organisation must also be integrated with these. They must all be in harmony; otherwise, the organisation will be paralysed.

How do you strike a balance between risk management and innovation?

Innovation is risky, and so is failing to innovate. You need to apply risk management approaches to your innovative strategies. If you understand your innovation risks and your mitigation strategies, you can take bigger in-

novation risks that other companies couldn’t do.

Why should leaders attend this programme?

Given TEXEM’s impressive pedigree of consistently helping organisations to thrive and the world-renowned faculties, this is a programme that every executive should not miss. Faculties who would be delivering this programme include Mike Wilkins, Managing Director S&P Global Ratings and Professor Randall S. Peterson of London Business School. Others are Ambassador Dr Peter Collecott, Ambassador Richard Gozney, Lieutenant Governor of Isle of Man and I. Also, the topics that would be covered during this programme is relevant and essential for the success of leaders and organisations. Thus, this TEXEM, UK programme on Risk Management & Effective Leadership for Superlative Performance during Turbulent Times scheduled to take place virtually, between 10-11 March 2021, promises to offer valuable insights on how to unlock scarce value in an era where there are few.

Through this executive development programme, leaders would enhance their social capital by networking and steepening their learning curve by challenging assumptions.

Notably, in times of volatility, stiff competition, and slow economic growth, it is easy to get so engrossed in the daily struggle to survive that one forgets to be strategic and focus on optimising performance. This TEXEM, UK programme would help participants to learn how to achieve this and more.

Every leader is welcome to attend the programme. Whether you are a CEO, Chief Operating Officer, Chief Financial Officer, Human Resource Manager, General Manager, Chief Marketing Officer, Chief Accounting Officer, Chief Procurement Officer, you cannot afford to miss this programme. Also, participants could include Chief Publicity Officer, Chief Technical Officer, and everyone else who occupies a leadership position. Dear executive, this TEXEM UK’s leadership programme is an opportunity to learn requisite actionable insights to win.

You can choose to apply as an individual or as a group from your organisation.

Enelamah Backs Downstream Deregulation The immediate-past Minister of Industry, Trade and Investment and Chairman of Africa Capital Alliance, Dr Okechukwu Enelamah, has joined his voice to the growing call for the total deregulation of the downstream sector of the Nigerian oil and gas industry.

Speaking at the recent 18th Annual Aret Adams Memorial Lecture Series, held virtually, tagged: “Total Deregulation of Nigeria’s Downstream Oil and Gas Sector: Challenges and Opportunities,” Enelamah, who chaired the occasion, said deregulation of the downstream sector would allow the industry to reach its full potential.

He advised the federal government to look for a win-win

solution to the issue of removal of petrol subsidy, being the right thing to do from an economic perspective, noting that a lot of capital would be freed up for developmental purposes if the sector was fully deregulated.

He also said that the deregulation of the telecommunications sector which had transformed to a $20 billion industry in less than 20 years was a pointer that same could be achieved in the petroleum sector.

He posited that true competition, independent market regulator, consumer protection and investor protection were some of the factors that could help achieve a fully deregulated petroleum sector.

Enelamah added that full

deregulation of the downstream sector would protect customers’ right and act as an anti-monopoly and price- fixing rules, arguing that that would also bring about robust protection of investors’ rights and framework for creating stable and enforcement of regulations. Delivering his lecture, the Guest Speaker and Chairman of Major Oil Marketers Association of Nigeria (MOMAN), Mr. Tunji Oyebanji, said total deregulation of the downstream had immense opportunities that would increase the country’s local refining capacity.

Oyebanji said if the sector was fully deregulated, it would increase investment in the rehabilitation and maintenance of industry infrastructure, storage

facilities, pipelines, and trucks, among others.

He stated that that would also fast-track development of open access reception facilities and adoption of industry best practices. On the future of the downstream sector, Oyebanji, who also the Managing Director of 11Plc (formerly Mobil), stressed the need to have a balance between ensuring the sustainability and growth of the crude oil value chain (Upstream through downstream) an providing value for the Nigeria consumer and the Nigerian economy.

He noted that the philosophy should be for the government to put legislative and commercial framework in place and let the market develop itself.

According to him, there was need for sustainable liberalisation of the downstream sector for rehabilitation of infrastructure and accountability.

On the state of the country’s refineries, the MOMAN chairman lamented that Nigeria had lost $13billon in 2019 to non-functional refineries.

Oyebanji noted that if the four refineries of the Nigerian National Petroleum Corporation (NNPC) were operating at optimal capacity, Nigeria would have imported only 40 per cent of what it consumed in 2019.

“Full deregulation of the downstream sector remains the most glaring boost to potential investors in this space.

“Total deregulation is more than just the removal of price subsidies, it is aimed at improving business operations, increasing the investments in the oil and gas sector value chain and resulting in the growth in the nation’s downstream petroleum sector as a whole,” he said.

Oyebanji maintained that though the government had announced the removal of petrol subsidy in March 2020, with the price of crude oil above $60 per barrel, the current price of N162 per litre for petrol was was below the landing cost.

He stated that the NNPC as the sole importer of petroleum products was currently defraying the cost through under recovery, pointing out that that was not sustainable in the long run.

Auditor General Chairs AU Board of External Auditors James Emejo in Abuja The Auditor-General for the Federation (AuGF), Mr. Aghughu Adolphus has been elected Chairperson of African Union (AU) Board of External Auditors.

The portfolio is for two a

period of two years and in line with Article 78 of the African Union Financial Rules and Regulation, which states that the AU Board of External Auditors shall comprise of Heads of Supreme Audit Institutions from member states of the union appointed by

the Executive Council.

A statement by the Deputy Director, Information, Office of the AuGF, Mr. Rotimi Ajayi, added that the election was conducted and announced on February 23 during a 2-day virtual meeting.

In his acceptance speech,

however, Adolphus, restated his unwavering commitment to strengthening the board to entrench accountability and transparency in line with the SAI Nigeria Audit vision.

He said the objective was to become a foremost audit institu-

tion, applying best professional practice towards fostering good governance and providing leadership to other Supreme Audit Institutions (SAIs).

He also seized the opportunity to congratulate President Muhammadu Buhari, for the appointment

and his subsequent confirmation by the Senate as the AuditorGeneral for the federation.

He said:”We look forward to a fruitful and beneficial interaction during the Federal Republic of Nigerias term of office from 2021 - 2023.”

30

WEDNESDAY MARCH 3, 2021 •T H I S D AY

WEDNESDAY MARCH 3, 2021 • T H I S D AY

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IMAGES

T H I S D AY ˾ ͱ˜ 2021

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L-R: Minister of Women Affairs, Dame Pauline Tallen and Permanent Secretary of the Ministry, Dr Anthonia Ekpa, during the press conference on 2021 International Women’s Day and Zero Discrimination Day in Abuja on...recently

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Traffic gridlock caused by queues of motorists for fuel at a filling station opposite the NNPC Towers on the Herbert Macaulay Way, Central Business District in Abuja... recently

Chairman Calabar Rovers FC, Mr Ejen Ebam (left) presenting a Rovers FC Branded Jersey to the Cross River State Commissioner of Police, Sikiru Akande during a visit to the CP in Calabar...recently

Lagos State Taskforce on Environmental Sanitation in collaboration with the Federal Ministry of Works and Housing demolishing Shanties and illegal structures for the Federal Government Right of Way at ToyotaLadipo in Lagos...recently

L-R: Head of Human Resources, Shalina Healthcare Nigeria Limited, Mrs Amina Akinsumbo; Head of Corporate Marketing, Mr Folorunso Alaran; New Brand Ambassador, of Shaltoux Lozenges, by Shalina Healthcare Nigeria Limited, Amb Sound Sultan; and Head of Brand Marketing, Mr Sandeep Sahu, during the Unveiling Ceremony of New Brand Ambassador,Title; ‘’My Voice , My Identity’’ by Shalina Healthcare Nigeria Limited, in Lagos...recently

FCT Commandant, Nigeria Security and Civil Defence Corps (NSCDC), Mathias Ohiemi (right), handing over document of victims of human trafficking to the representatives of National Agency for the Prohibition of Trafficking in Persons (NAPTIP), to Charity Daniel (left); and others in Abuja...recently

Officials of Federal Ministry of Works and Housing addressing the drivers and traders obstructing the right of way of the ongoing re-construction of Lagos-Ibadan Expressway, during a sensitization program, in Ibadan ...recently

34

T H I S D AY ˾ ͱ, 2021

EDUCATION Early Grade Reading: Boosting Language Skills Among Pupils ‘Je Ka Kawe’, was recently presented to the Lagos State Government. It is the Early Grade Reading, Teaching and Learning Materials in Yoruba language, developed by United State Agency for International Development in collaboration with other implementing partners.

Stakeholders who spoke at the programme, explained that the move will go a long way in improving language literacy and reading outcomes among pupils. Funmi Ogundare reports

O

n February 28, 2021, United State Agency for International Development (USAID) in collaboration with the Nigerian Educational Research and Development Council (NERDC), inaugurated the Early Grade Reading (EGR) Teaching and Learning Materials (TLM) in Igbo and Yoruba Languages:’ Ka Anyi Guo’ and ‘Je Ka Kawe’.

The effort by USAID follows the successful implementation of ‘Ma Karanta’ and ‘Let’s Read’ versions across northern Nigeria, where the programme has supported learning to read and write in Hausa and English languages.

Developed based on scientific principles and socio-cultural considerations, the materials seek to improve reading outcomes amongst Nigerian children from primary one to three and promote the use of mother tongue in early grade education .

Its development is also premised on the language provisions in the National Policy of Education (FRN,2013) that the mother tongue or the language of the immediate community, should be the medium of instruction at the lower primary level of education.

It is designed to promote active learner engagement, comprehension and critical thinking through three levels of instruction that ensure learners develop critical skills necessary for all aspiring readers: phonemic awareness, phonics, fluency, vocabulary, and comprehension.

The comprehensive curriculum package includes learner textbooks and workbooks, teachers’ guides, and storybooks for practice in school or at home, all available at no expense for download.

USAID recently, did a formal handling over of the Yoruba Early Grade Reading Learning Material; ‘Je Ka Kawe’ to the Lagos State Government through the State Universal Basic Education Board (SUBEB) for immediate distribution into schools.

Speaking at the ceremony witnessed by officials of the ministry of education, SUBEB, teachers, implementing partners, among others, the Chief of Party , USAID Northern Education Initiative Plus, Mr. Nurudeen Lawal emphasised on the need to address the problem of learning outcomes by teaching the children in language that they will understand and succeed in; and complete their education.

He said this is very critical for national development.

According to him, “ By teaching children in mother tongue, aside the fact that they will be able to read, they are going to transfer that knowledge into learning other subjects and be able to achieve a lifelong learning which is part of the Sustainable Development Goals(SDGs).”

He expressed concern about the quality of education in the country which is affecting learning outcomes, and the poor learning grade reading assesement, saying that if children cannot read at an early age, they may become fustrated, thereby dropping out of school .

“When you look at the learning outcomes in Nigeria, you will find out that it is not very encouraging . Nigeria is one of those countries that the quality of education is very low. In some places, 95 per cent of children cannot read a word. It is a thing of concern and if children cannot read at early age, they become frustrated in learning , then they may end up dropping out of school ear!ier. No wonder the problem we are having today, is because of that frustration,”Lawal stressed.

He revealed that there will be a training programme for teachers on how best they could impact the children with the materials.

Chief of Party, Northern Education Initiative Plus, USAID, Mr. Nurudeen Lawal (middle), Commissioner for Education, Mrs. Folasade Adefisayo, Executive Chairman State Universal Basic Education Board (SUBEB); Wahab Alawiye-King, other stakeholders in the education sector and pupils, during the presentation of Yoruba Early Grade reading materials to the Lagos State Government recently A Professor in the department of Language , Arts and Social Science Education, Faculty of Education, Lagos State University ( LASU) , Solomon Olanrewaju Makinde who was part of the development of the resources, explained how the initiative started in February 2020 when over 40 experts drawn from all the Yoruba speaking states were made to participate in purpose-driven workshops that brought about the reading materials for primary one to three, during the Covid-19 lockdown.

“They were developed with the full participation of representatives of Federal Ministry of Education, NERDC, National Council for Colleges, Teachers’ Registration Council, National Institute for Nigerian Languages, language associations , SUBEB desk officers from the Yoruba speaking states, including Kwara State, “ he said, adding that the materials were subjected to peer- review, field testing and post field-testing review before the final production.

Emphasising on the content of the materials which include the Pupils Book and the Teachers’ Guide, the Don said the guide was written in such a way that the implementing teacher will not need to write a lesson plan for him to teach any of the lessons.

“Je Ka Kawe materials are evidenced based and meet global best practice in early grade reading as they are structured around 5 plus 2 reading skills namely; phonemic awareness, alphabetic principles, vocabulary, fluency, comprehension, concept of print, and writing.”

The materials for primary one to three are contemporary issues and development in science and technology including the Covid-19 pandemic. Makinde noted that texts presented in the pupils’ books, are decodable and leveled with graded questions in the Teachers’ Guide for continuous assessment of learners’ performance and to provide the necprovide feedback for the attention of the teacher. “ In the Teachers’ Guide, there are story read alouds which teachers will read to the pupils and ask questions afterwards to test their listening comprehension, as well as critical thinking, “Olanrewaju said, adding

that the material meet the required criteria for reading which include; time, teaching, testing, text, as well as tongue( language).

He recommended that the government should embark on mass production of the materials and ensure that every library in the state, get copies. “ It is equally expected that teachers would be trained to understand the principles that underlie the development of the materials and the skills for teaching early grade reading for maximum performance, “ Makinde said.

Earlier in his remarks, the Executive Chairman, SUBEB, Wahab Alawiye-King stated that the infusion of local languages into the education system, not only increase the chances of survival for the children, its introduction as a medium of instruction, will help them succeed educationally.

He commended the initiative by USAID, while expressing optimism that the resources will expand the availability of quality local language teaching and learning materials for reading among all Yoruba speaking pupils in primary one to three in the South-west, Nigeria and Lagos State, in particular.

The chairman stressed the need for schools’ curriculum to be culture sensitive and relevant to our sociocultural traditions.

He said the educational resources will be put to good use to complement teaching and learning in local languages which is already in force in public schools.

The Commissioner for Education , Mrs. Folashade Adefisayo said children should be encouraged to learn the mother tongue, adding that this will increase their literacy level and expand the availability of quality local language teaching and learning materials for pupils within the state.

“Parents must encourage their children to interact and learn in Yoruba language as this will give them an in depth knowledge of their ethnic background,” she said.

She commended the laudable initiative and the state’s collaboration with USAID, noting that the gesture is a collective effort that would yield futuristic benefits.

Adefisayo assured that her ministry would recruit more Yoruba language teachers, while the teaching of languages, will be intensified

in the curriculum.

The Permanent Secretary, Ministry of Education, Mrs. Abosede Adelaja said the society has a role to play using our language as an identity, adding that the state government will utilise its resources to expand the availability of quality local language teaching and learning materials for reading among pupils.

The Director- General , Office of Education Quality Assurance , Lagos State, Mrs. Abiola Seriki-Ayeni DG Quality Assurance said her office would help to scale up the reading programme by supporting the public school teachers.

“There is no reinventing the wheel. If we have resources available, the assessment is there, the book and teachers’ guide are there. It is what we need. So if we use the existing system and helping to scale up, it will help in supporting our public school teachers. The private school teachers need to know that we need to take our indigenous langauge seriously. Sometimes, there is a culture within our indigenous languages, so the way we are presenting it, also matters.

We need to go back to the drawing board.”

A teacher from Maryland Primary School, Lagos, Mrs. Grace Okunola expressed concern about the dearth of language teachers in the school, adding that they are also faced with the challenges of not communicating in the indigenous language with the pupils.

She said as a result, sometimes, the pupils usually do not understand what the teacher is teaching.

According to her, “If you check our schools, we hardly have Yoruba teachers, so we are finding it difficult to teach the children, they usually tell us that we shouldn’t speak vernacular to the children and sometimes, they find it difficult to understand you.

If we try to inculcate Yoruba language into what we are teaching them, they will understand it better.

She said the introduction of the early grade reading materials, will go a long way in enhancing teaching and learning, adding that government should employ more Yoruba teachers that will handle the subject effectively.

35

T H I S D AY ˾ MARCH 3, 2021

EDUCATION

Expert Recommends MDCN Inducts 63 Babcock Varsity Shorter Notes to Ease Medical Doctors Students’ Assimilation During Exams Funmi Ogundarei

The Elementary School Principal at Greensprings Anthony Campus, Mrs. Oluwakemi Famuyide has stated that students’ academic performance can be improved if a slight change is made to how they take their notes.

Speaking during the recent in-service training (INSET) of the school, she argued that the current way of writing lengthy notes makes it a daunting task for students to read during exams.

She therefore proposed the incorporation of visual tools that make note-taking shorter and easy to read for students.

“It has been observed that one major challenge that students face during the exam period is that they find it difficult to read and assimilate their lengthy notes. Some students are unable to adequately cover all the topics during revision, which will likely result in poor exam grades, especially when the omitted areas are set as questions in the exam.

“To motivate students to cover all lesson areas in order to improve their exam performance, schools need to teach their students how to use visual tools when taking notes. These tools are graphical symbols such as lines, points and arrows that help to link information and knowledge

together.” By using them, the principal said students are able to write shorter notes, as well as use visual representations to note the main points from a topic, thereby making it easier to recall if necessary.

Famuyide pointed out that visual tools are part of the Thinking School teaching methodology that is currently being adopted by her school, adding that the tools have been helpful in guiding students across all categories to understand how they know what they know.

Thinking Schools, she said, are schools accredited by Thinking Schools International (TSI).

The schools take an explicit, evidence-informed, and wholeschool approach to develop pupils’ cognitive capability and intelligent learning behaviours.

“You find students making statements like ‘I’m thinking about my thinking’ even when they are having conversations with their peers. It has also helped students excel in both internal and external examinations.”

Famuyide said even though not all schools can become a ‘Thinking School’, they can still improve their students’ academic performance by teaching them the use of graphical symbols to link information and knowledge together.

The Medical and Dental Council of Nigeria (MDCN) has inducted 63 newly qualified doctors of the Babcock University, Benjamin Carson School of Medicine, IlishanRemo, Ogun State, into its professional body.

The fifth induction ceremony, served as a platform to remind inductees of their responsibility to their patients.

In his remarks, the Council Registrar, Dr. Tajudeen Sanusi said as doctors, they need to understand their patients’ vulnerability, recognise their limits, and know when to refer cases outside to specialists better placed to handle them.

The immediate past Provost of the Medical School, Professor Iheanyichukwu Okoro, advised them to create time for family and read beyond medical books to become well-grounded.

According to him, “Show compassion to your patients.

Create time for your family especially your wives. You are called to be missionaries, not mercenaries. Remember God. In all your ways acknowledge Him and He will direct your

paths. He will make your paths straight.”

While congratulating the inductees, parents and sponsors for the faith reposed in the institution, President/Vice Chancellor, Professor Ademola Tayo urged the doctors to imbibe new approaches and be on top of their jobs especially with technological advancement.

He also acknowledged their peculiarity as a class which got admitted into the institution at the onset of the Ebola epidemic outbreak in Nigeria and graduation during the Covid-19 pandemic.

“Medical practice is more than challenging at a time you are being inducted into practice,” he said, adding that the medical profession is more of a battle ground where they must make use of their sense of tolerance to make a difference.

Tayo expressed optimism about an upward review of approved quota from the MDCN with the upgrade of facilities, including a molecular laboratory and investment in an MRI scanner.

“Today, hundreds of applicants apply for medicine in Babcock, but we are constrained

due to approved quota from MDCN,” he said.

He appealed to the doctors graduands to build their future success on a foundation of integrity, good character, hard work, and a compassionate lifestyle, saying, “your common goal is the recovery of patients.

You must endeavor to improve yourselves professionally and remember that the acquisition of MBBS, is just the foundation that you need to build upon.”

In another development, the Babcock University President/ Vice Chancellor, Professor Ademola Tayo has called on the federal government to increase health sector funding amidst epidemics and pandemic outbreaks.

His call came at the opening session of the five-day Babcock University Teaching Hospital (BUTH) Nursing Conference on total care.

Professor Tayo, who described the theme of the conference as apt, said the four per cent national budgetary allocation to the health sector in 2020, was antithetic to efficient and effective healthcare delivery system.

He however stressed the

need for increased budgetary allocation, insurance cover for nurses and other vulnerable health workers, as well as additional payment to complement the conventional allowance to those exposed to greater health hazards.

He noted that with the pandemic and general shortage of medics and allied professionals, the roles of nurses were becoming more complex and challenging.

“The ratio of nurses in Nigeria to patients is abysmally low. The tendency of putting too much pressure on the available workforce is real, “ he said, while appealing to both government and stakeholders in the health sector to evolve a productive dialogue mechanism to minimize persistent lockdown or strikes and come up with resolutions to uplift the nursing practice in Nigeria.

Thd Chief Medical Director, BUTH, Professof Franklin Ani, who was represented by the Deputy Director of Clinical Services, Dr. Titus Oyedele, said participants should use the conference to build up the human component in healthcare delivery.

Lawmaker Pays WAEC Fees for 800 Students Emmanuel Ugwu-Nwogo in Umuahia Relief has come for 800 senior secondary school three students in selected schools across Isuikwuato/Umunneochi federal constituency as their representative, Hon Nkiruka Onyejeocha, recently, paid their West African Examinations Council (WAEC) exam fees for 2021.

The students drawn from 19 schools, two of which are mission schools, were said to be finding it difficult to register for the Senior Secondary School Certificate Examination (SSSCE) conducted by WAEC. The lawmaker in fulfilment of her promise to assist parents in her constituency, promptly waded in to pick the bills for their children and wards.

At a ceremony in her country home at Isuochi, Onyejeocha issued cheques to the benefiting schools with principals and prefects jointly collecting the money on behalf of students of their respective schools.

The value of the cheques ranged from N279,000 to N976,500 depending on the number of students being prepared for the examination.

In her remarks, Onyejeocha said she would continue to do her best to sustain the payment of the fees for students in her constituency to assist them and their parents.

According to her, “the senior secondary school certificate, is a stepping stone to what the

children would be in future after completing secondary education, hence the need to enable them pass the exams and obtain the certificate.”

She said she was encouraged to pay the fees as reports from school principals showed that the maiden beneficiaries, who wrote their SSSCE last year, performed very well.

“It has always been my joy and happiness to help people in need as God in his infinite mercy is supplying my need.

So many families are facing dire economic hardships which could compromise the education of their children, “the lawmaker said.

To further strengthen her educational interventions, including her tertiary education scholarship programme, the third term federal lawmaker announced the appointment of a new adviser, Felix Obiukwu, to coordinate the implementation of the programmes.

Speaking on behalf of principals of the benefiting schools, the Principal of Nneato Secondary School, Mr. John Ihionu thanked Onyejeocha for lifting what has become a heavy burden off the shoulders of students and their parents.

He said the people of Isuikwuato and Umunneochi local governments were blessed to have a woman with a large heart, who loves education and is ever ready to support children in her constituency to realise their dreams and academic endeavours.

A cross-section of the newly qualified medical doctors of Benjamin Carson College of Medical and Health Sciences, Babcock University during their induction ceremony, held in Ilishan-Remo, Ogun State... recently

Proprietors of Mission Schools Reject Wearing of Hijab in Kwara Hammed Shittu in Ilorin Proprietors of mission secondary schools have rejected the approval by the Kwara state government for students to wear hijab.

The state government had last week, approved the wearing of hijab for students of

grant-aided schools in the state.

The proprietors in a communique signed by Reverend Victor Dada and made available to THISDAY, said the body condemns the use of hijab in Christian missions grant-aided schools.

He argues that this will cause discrimination in schools

and allow terrorist to easily identify the children.

According to him, “Christian mission grant-aided schools should be returned to the owners promptly as most of these schools have churches beside them and unnecessary trespass may lead to break down of law and order.

“Christian faithfuls should occupy all grant aided schools.

Christians should have a day for prayers and fasting for God to intervene in the imbroglo.

“We shall continue to interact and dialogue with the state government on the return of grant aided schools to the proprietors.”

NUC Approves Seven Programmes for Augustine Varsity The National Universities Commission ( NUC) has granted approval for the commencement of seven new courses at the Augustine University, Ilara, Epe, Lagos State.

The Communications Officer of the university, Nicolas Obayi, in a statement made available to THISDAY, said the

approval was contained in a letter sent by the Executive Secretary of the Commission to its Vice-Chancellor.

The seven new courses are; Biotechnology, Cybersecurity, Fisheries and Aquaculture, Information Technology, Mass Communication Political Science and Software Engineering.

The statement read in part, “This approval was granted following a verification exercise carried out by the commission to ascertain the readiness of AUI in commencing these programmes. The approval confirms the readiness of the Augustine University to deliver world class higher

education services to youths within and outside Nigeria with the state-of-the-art facilities readily available to aid qualitative learning,” The courses are in addition to the ones being run by the university, set up by the Catholic Church, Lagos Diocese.

36

WEDNESDAY MARCH 3, 2021 •T H I S D AY

WEDNESDAY MARCH 3, 2021 • T H I S D AY

37

38

˾ WEDNESDAY, MARCH 3, 2021

Wednesday, March 3, 2021 Thisday Afrinvest 40 Index Declines 0.6% dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ϲϬďƉƐ ƚŽ ƐĞƩůĞ Ăƚ

THISDAY AFRINVEST 40 INDEX

1,779.37 points. This was on the back of sell-ŽīƐ ŝŶ ZENITH (-0.6%), NESTLE (-6.9%) and WAPCO (-7.1%). These

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘ϳй ŽĨ ƚŚĞ ŝŶĚĞdž͘

Price Previous Current Change Price YTD Weighting Change

Price Change Index to Date

Ticker

Current Price

THISDAY AFRINVEST 40

1,779.37

-0.60%

21.2%

77.9%

17.4%

3.7%

5.3x

0.5x

5.6%

930.00

0.0%

33.9%

9.2%

9.2%

7.9%

2.8%

15.6x

1.2x

1.3%

6.4%

74.75

0.0%

10.8%

-3.4%

-3.4%

19.1%

11.2%

35.9x

6.8x

2.5%

2.8%

31.50

1.6%

9.0%

-2.6%

-2.6%

27.9%

4.7%

4.6x

1.3x

9.0%

21.9%

25.65

-0.6%

6.9%

3.4%

3.4%

22.4%

3.1%

3.5x

0.7x

11.6%

28.6%

220.00

0.0%

5.4%

-10.2%

-10.2%

30.8%

14.6%

14.7x

4.6x

7.4%

6.8%

174.00

0.0%

4.9%

2.4%

2.4%

189.4%

11.9%

17.3x

30.2x

5.5%

5.8%

1,350.00

-6.9%

3.5%

-10.3%

-10.3%

83.0%

20.5%

27.3x

25.6x

5.4%

3.7%

21.00

-7.1%

3.3%

-0.2%

-0.2%

6.5%

4.6%

14.6x

0.9x

4.5%

6.8%

8.10

-0.6%

2.7%

-4.1%

-4.1%

16.8%

1.5%

2.6x

0.4x

8.0%

38.1%

10 United Bank for Africa PLC 11 FBN Holdings Plc

8.20

-1.8%

2.5%

-5.2%

-5.2%

13.9%

1.3%

3.5x

0.5x

11.8%

28.7%

7.10

0.0%

2.4%

-0.7%

-0.7%

11.2%

1.1%

4.0x

0.3x

5.4%

25.3%

222.6m units and value rose 185.5% to േ5.4bn. The most

12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC

52.00

0.0%

1.9%

-7.1%

-7.1%

4.5%

1.8%

56.3x

2.6x

3.5%

1.8%

40.00

0.0%

1.8%

-9.2%

-9.2%

24.3%

3.7%

5.3x

1.2x

6.0%

18.8%

traded

14 International Brew eries PLC 15 Flour Mills of Nigeria PLC

-26.3%

-6.2%

The Bears Again... ASI down 59bps

dŚĞ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ following sell-ŽīƐ in NESTLE (-6.9%), WAPCO (-7.1%) and FLOURMILL (6.4%). As a result, the benchmark index fell 59bps to 39,697.62 points, YTD return worsened to -1.4% and ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞĐůŝŶĞĚ ďLJ േ122.4bn to േ20.8tn. dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǀĂƌŝĞĚ ĂƐ ǀŽůƵŵĞ ĚĞĐůŝŶĞĚ ďLJ ϱϵ͘ϭй ƚŽ

stocks

by

volume

were

ZENITH

(48.1m

units), UCAP (20.2m units) and MBENEFIT (19.4m units) while

NESTLE

and

(േ2.7bn),

GUARANTY

ZENITH

(േ240.7m)

led

(േ1.2bn) by

value.

1 Airtel Africa PLC 2 BUA Cement Plc 3 Guaranty Trust Bank PLC 4 Zenith Bank PLC 5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC 8 Lafarge Africa PLC 9 Access Bank PLC

16 SEPLAT Petroleum Development C 17 11 PLC 18 Okomu Oil Palm PLC 19 Fidelity Bank PLC 20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc

Bearish Sector Performance Performance across sectors was poor as 4 of the 6 indices

23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria

under our coverage closed southward. The Insurance

26 Presco PLC 27 Unilever Nigeria PLC

index emerged the lone gainer, up 0.2% due to price ap-

28 PZ Cussons Nigeria PLC 29 United Capital PLC

ƉƌĞĐŝĂƟŽŶ ŝŶ NEM (+6.0%) and PRESTIGE (+7.0%). On the

30 Guinness Nigeria PLC 31 Custodian and Allied Insurance

ŇŝƉ ƐŝĚĞ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ůŽƐƚ

32 AIICO Insurance PLC 33 Total Nigeria PLC

ϯ͘ϵй ĂŶĚ Ϭ͘ϵй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ĚĞĐůŝŶĞƐ ŝŶ NESTLE (6.9%),

FLOURMILL

(-6.4%),

ARDOVA

(-10.0%)

and OANDO (-ϰ͘ϳйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ

Banking

indices

closed

lower

by

0.4%

and

0.1% ƌĞƐƉĞĐƟǀĞůLJ ĨŽůůŽǁŝŶŐ ƐĞůů ƉƌĞƐƐƵƌĞƐ ŝŶ WAPCO (-

34 Julius Berger Nigeria PLC 35 Wema Bank PLC

/ d ŝŶĚĞdž ĐůŽƐĞĚ ŇĂƚ͘

38 Notore Chemical Industries Ltd 39 Beta Glass PLC 40 Transcorp Hotels Plc

0.4x recorded previously as 17 stocks advanced against 24

decliners.

and while

ROYALEX

ACADEMY (+8.0%)

MBENEFIT

(+9.8%), were

(-10.0%),

the

PZ

(+9.4%)

top

gainers

ARDOVA

(-10.0%)

and CHAMPION (-9.7%) were the top losers. As investor ƐĞŶƟŵĞŶƚ ƌĞŵĂŝŶƐ ƐƵďƉĂƌ͕ ǁĞ ĂƌĞ ŶŽƚ ŽƉƟŵŝƐƟĐ ĂďŽƵƚ ƐŝŐŶŝĮĐĂŶƚ ŐĂŝŶƐ ŝŶ ƚŚĞ ŵĂƌŬĞƚ ƚŚŝƐ ǁĞĞŬ͘

3.8%

P/BV

Divindend Earnings Yield Yield

1.0x

-29.9% 5.2% 7.5%

-16.1%

4.0%

8.1%

8.3%

39.1%

8.3%

13.7%

530.00

0.0%

1.3%

31.7%

31.7%

228.00

0.0%

0.8%

0.0%

0.0%

16.4%

7.6%

12.4x

1.9x

93.00

0.0%

0.8%

2.2%

2.2%

24.6%

16.0%

11.3x

2.6x

2.35

-3.3%

0.7%

-6.7%

-6.7%

10.5%

1.1%

2.6x

0.2x

5.20

-1.0%

0.6%

-13.3%

-13.3%

0.6%

0.0%

38.6x

0.2x

17.85

0.0%

0.6%

1.4%

1.4%

30.8%

15.6%

7.3x

1.8x

2.98

0.0%

0.5%

-10.5%

-10.5%

10.3%

1.2%

2.8x

0.1x

4.7%

35.3%

1.46

-8.8%

0.3%

-28.4%

-28.4%

9.2%

0.9%

3.6x

0.3x

2.1%

27.7%

14.40

-0.3%

0.4%

-0.7%

-0.7%

18.4%

5.8%

8.3x

3.1x

2.8%

12.0%

0.89

-1.1%

0.3%

-1.1%

-1.1%

-3.5%

-0.8%

0.6x

1.1%

-6.5%

71.90

0.0%

0.3%

1.3%

1.3%

18.5%

7.7%

2.3x

2.9%

13.00

-3.3%

0.2%

-6.5%

-6.5%

-2.4%

-1.6%

5.25

9.4%

0.2%

-0.9%

-0.9%

-12.2%

-5.6%

6.01

-1.5%

0.3%

27.6%

27.6%

35.5%

4.2%

23.00

0.0%

0.2%

21.1%

21.1%

-17.8%

-9.0%

6.00

0.0%

0.2%

2.6%

2.6%

13.9%

4.8%

3.0x

0.8x

1.15

-5.0%

0.2%

1.8%

1.8%

21.4%

3.3%

2.6x

0.5x

142.00

0.0%

0.2%

9.2%

9.2%

20.30

0.0%

0.2%

14.0%

14.0%

3.2%

0.4%

23.7x

-5.8%

-5.8%

6.8%

0.5%

3.2x

3.25

1.6%

0.1%

0.0%

0.0%

-4.7%

0.1%

2.6%

1.2x

4.6x

0.6x

1.9%

1.5x

11.7%

0.7x

14.5%

2.6%

62.50

0.0%

0.1%

0.0%

0.0%

-29.7%

-8.5%

54.00

8.0%

0.1%

-2.5%

-2.5%

9.4%

6.4%

3.25

0.0%

0.0%

-9.7%

-9.7%

1.4x

7.5%

4.7%

0.7x

8.2%

4.2%

0.4x

6.2%

31.7%

4.9% 0.2x

-18.4%

0.7x

3.1%

12.5%

2.2%

-28.4%

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

Vo lum e

P ric e C hg %

48.1

PZ

5.25

9.4%

UC A P

20.2

-1.5%

R OYA LEX

0.27

8.0%

M B EN EF IT

19.4

-10.0%

54.00

8.0%

M A N SA R D

9.0

0.0%

0.28

7.7%

FB NH

8.8

0.0%

7.1%

GUA R A N T Y

7.7

1.6%

5.8

-3.3%

-0.6%

P R EST IGE

0.46

7.0%

F ID ELIT YB K

N EM

2.12

6.0%

UB A

5.4

-1.8%

NP FM CRFB K

1.90

5.6%

A C C ESS

4.8

-0.6%

M ULT IVER SE

0.21

5.0%

ST ER LN B A N K

4.2

-8.8%

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

T o p 10 L o s e r s

M B EN EF IT

P ric e 0.36

Value

P ric e C hg %

-10.0%

N EST LE

2728.5

-6.9%

-10.0%

Z EN IT H B A N K

1235.9

-0.6%

P ric e C hg %

T ic k er

A R D OVA

16.25

C H A M P ION

2.05

-9.7%

GUA R A N T Y

240.7

1.6%

ST ER LN B A N K

1.46

-8.7%

UC A P

122.0

-1.5%

WA P C O

21.00

-7.1%

B ET A GLA S

94.5

8.0%

N EST LE

1350.00

-6.9%

OKOM UOIL

92.9

0.0%

27.00

-6.4%

M TNN

84.9

0.0%

D A N GSUGA R

72.5

0.0%

UP L

1.11

-5.9%

A IIC O

1.15

-5.0%

WA P C O

66.8

-7.1%

-4.8%

FB NH

62.5

0.0%

VER IT A SKA P

Brokerage

0.20

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com Taiwo Ogundipe | togundi-

16.6% 71.5%

Z EN IT H B A N K

T ic k er

33.2% 38.7%

9.8%

1.20

21.8%

5.1%

1.8x 8.0x

-168.3%

-28.2%

6.0x

-12.2%

9.8% -2.2%

21.5x

-100.0% -12.2%

10.2x

8.9%

P ric e C hg %

R EGA LIN S

7.4%

0.7x

0.45

F LOUR M ILL

Afrinvest West Africa Limited

-2.5%

3.8%

P/E

P ric e

LA SA C O

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ŝŶĐƌĞĂƐĞĚ ƚŽ Ϭ͘ϳdž ĨƌŽŵ ƚŚĞ

-2.5%

ROA

A C A D EM Y

B ET A GLA S

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

1.5% 1.1%

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

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ /ŵƉƌŽǀĞƐ

0.0% -6.4%

0.65

36 Union Bank of Nigeria PLC 37 Oando PLC

7.1%), UBA (-1.8%) and ZENITH (-0.6%). Lastly, the AFR-

5.80 27.00

ROE

Christopher Omoh | comoh@afrinvest.com

WEDNESDAY, MARCH 3, 2021 ˾ T H I S D AY

39

MARKET NEWS

NSE Launches e-Filing Portal to Enhance Securities Listing Goddy Egene

(NSE) has launched of its e-Filing Portal, X-Filing, which is a fully integrated, secure web interface

The Nigerian Stock Exchange 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

designed to enable the submission and processing of securities listing applications online.

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 01Mar-2021, unless otherwise stated.

According to the exchange, the portal provides dealing member firms (DMFs) and other accredited

sponsors with a simple, efficient and convenient way to submit securities listing applications

on behalf of issuers as well as enable the exchange to process the applications online.

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 157.59 159.16 -2.59% Afrinvest Plutus Fund 100.00 100.00 3.20% Nigeria International Debt Fund 350.92 350.92 -12.03% Afrinvest Dollar Fund 111.34 111.34 -2.43% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds 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 0.68% AIICO Balanced Fund 3.36 3.52 -5.21% 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 N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 18.54 19.10 2.24% ARM Discovery Balanced Fund 408.11 420.42 1.93% ARM Ethical Fund 35.34 36.40 4.83% ARM Eurobond Fund ($) 1.19 1.20 -2.22% ARM Fixed Income Fund 1.04 1.04 -7.34% ARM Money Market Fund 1.00 1.00 1.24% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 102.85 102.85 1.12% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.06 2.06 -27.97% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.20 2.24 -11.28% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 1.87% Paramount Equity Fund 15.87 16.17 -0.74% Women's Investment Fund 132.84 134.35 -0.19% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 1.55% Cordros Milestone Fund 2023 129.03 129.89 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 110.15 110.15 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 1.19% Coronation Balanced Fund 1.17 1.18 -2.47% Coronation Fixed Income Fund 1.50 1.50 -5.49% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 1.53% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 1.55% EDC Nigeria Fixed Income Fund 1,159.23 1,161.93 -3.41% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund 100.00 100.00 1.75% FBN Nigeria Eurobond (USD) Fund - Institutional 123.64 123.64 2.99% FBN Nigeria Eurobond (USD) Fund - Retail 123.78 123.78 2.99% FBN Smart Beta Equity Fund 150.82 152.85 -0.24% 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 1.18% Legacy Debt Fund 3.90 3.90 0.66% Legacy Equity Fund 1.57 1.60 3.19% Legacy USD Bond Fund 1.14 1.14 0.80% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,816.20 3,866.57 1.62% Coral Income Fund 3,329.87 3,329.87 1.95% FSDH Treasury Bills Fund 100.00 100.00 1.47%

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 0.88% Nigeria Entertainment Fund 127.74 128.27 18.74% GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 1.26% Vantage Balanced Fund 2.75 2.81 19.76% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 154.49 154.93 -0.60% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 5.17% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.60 1.63 7.43% PACAM Fixed Income Fund 12.21 12.33 -0.18% PACAM Money Market Fund 10.00 10.00 1.25% PACAM Equity Fund 1.58 1.60 -0.03% PACAM EuroBond Fund 109.34 112.00 -0.07% 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 127.59 129.85 5.69% 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 1.01 1.01 1.00% 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 3,143.80 3,170.40 -2.22% Stanbic IBTC Bond Fund 226.63 226.63 0.79% Stanbic IBTC Ethical Fund 1.16 1.18 -0.85% Stanbic IBTC Guaranteed Investment Fund 296.89 296.90 0.76% Stanbic IBTC Iman Fund 214.96 217.63 -1.63% Stanbic IBTC Money Market Fund 100.00 100.00 1.66% Stanbic IBTC Nigerian Equity Fund 9,958.97 10,092.11 -5.14% Stanbic IBTC Dollar Fund (USD) 1.24 1.24 0.98% Stanbic IBTC Shariah Fixed Income Fund 111.75 111.75 0.60% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.34 1.37 -1.61% United Capital Bond Fund 1.91 1.91 0.94% United Capital Equity Fund 0.90 0.92 3.62% United Capital Money Market Fund 1.00 1.00 2.73% United Capital Eurobond Fund 118.20 118.20 0.95% United Capital Wealth for Women Fund 1.08 1.10 -0.46% United capital Sukuk Fund 1.02 1.02 2.17% 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 Equity Fund 12.23 12.33 3.05% Zenith Ethical Fund 13.57 13.68 11.07% Zenith Income Fund 24.18 24.18 0.84% Zenith Money Market Fund 1.00 1.00 1.70%

REITS NAV Per Share

Yield / T-Rtn

121.58 52.64

0.70% 0.46%

Bid Price

Offer Price

Yield / T-Rtn

12.84 120.10 95.35

12.94 120.10 97.14

-2.82% -1.35% -4.04%

Fund Name SFS Skye Shelter Fund Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.96 5.57 17.21 1.00 19.16 175.89

4.00 5.65 17.31 1.00 19.36 177.89

4.49% -2.07% 5.19% 0.40% -6.59% -20.30%

NAV Per Share

Yield / T-Rtn

108.05

13.11%

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.

T H I S D AY ˾ ͱ˜ 2021

40

BUSINESS/MONEYGUIDE

NSIA, Moroccan Firm Seal Deal to Boost Fertiliser Production Obinna Chima The federal government and the OCP Group of Morocco have sealed a bouquet of agreements to boost fertiliser production for Nigerians farmers.

It was gathered that a number of agreements were signed between OCP Africa, the Fertilizer Producers and Suppliers Association of Nigeria, and the Nigeria Sovereign Investment Authority (NSIA), in order to commit to the second phase of the Nigerian Presidential Fertilizer Initiative.

Similarly, a Shareholders’ Agreement was also signed between OCP Africa and the NSIA for the creation of the Joint Venture Company.

This agreement would oversee the development of a versatile industrial platform that will produce ammonia and fertilizers in Nigeria. The agreement was signed at the University Mohamed VI Polytechnic in Morocco by OCP Africa and the

Nigerian delegation chaired by the Minister of Petroleum Resources, Mr. Timipre Sylva.

The business visit was a follow up to the industrial project which was officially launched in June 2018, following the success of the first phase of the Presidential Fertilizer Initiative supported by OCP. Through these agreements, the OCP Group has confirmed its commitment to the development of a sustainable and inclusive agriculture in Nigeria.

It also reaffirms the OCP and NSIA’s unwavering support of agricultural development initiatives in Nigeria.

The project was first announced during the official visit to Morocco of President Muhammadu Buhari and it is aimed at developing a versatile industrial platform in Nigeria.

It is expected to utilise Nigerian gas and Moroccan phosphate to produce 750,000 tons of ammonia and one million tons of phosphate

fertilizers annually by 2025.

Also, during the visit, a Memorandum of Understanding between OCP Africa, the Nigerian National Petroleum Corporation, and NSIA was sealed.

The objective of this pact is to evaluate the opportunity of an equity investment by the NNPC in the JVC and for its support on gas.

The visit also provided the Nigerian delegation another opportunity to seal a Framework Agreement between OCP Africa, Mobil Producing Nigeria, the NNPC, the Gas Aggregation Company Nigeria and the NSIA on gas supply for the industrial platform.

This was in addition to a Memorandum of Understanding that was sealed between OCP Africa, Akwa Ibom State Government and the NSIA on land acquisition, administrative facilitation and common agricultural development projects in Akwa Ibom State.

Buhari

MARKET INDICATORS

Tangerine Life Completes Merger with ARM Life Goddy Egene Tangerine Life Insurance Limited (previously known as Metropolitan Life Insurance Nigeria Limited), has, concluded its merger with ARM Life Plc. Tangerine is owned by Verod Capital, a leading private equity firm investing in growth companies across Anglophone West Africa. The key objective of the acquisition is to build a stronger, broader insurance and financial services platform, drawing on the strengths of both entities.

Tangerine’s strength in the corporate market segment and ARM Life’s broad retail and annuity-based service offering.

Since it was first announced in February 2020, both organisations have embarked on a rigorous exercise to evaluate their collective strengths and address any gaps, towards building an impressive new enterprise focused on digital first. The new entity will focus on impressing and satisfying customers with quality products and a superior customer experience.

Managing Director, Tangerine Life, Livingstone Magorimbo, said at Tangerine Life, they would continue to innovate, drive positive change within the insurance industry and create tremendous value for their customers towards effectively positioning their business to stay ahead of the next wave

of industry evolution.’

Commenting, former MD of ARM Life and now a director at Tangerine Life, Stephen Alangbo, said the next phase of ARM Life’s rich retail and annuity heritage involves leveraging technology to better serve all stakeholders.

“Innovation is paramount in ensuring customer satisfaction in today’s business landscape.

We believe that the combination of both entities will ensure exceptional value creation for existing and new customers and partners,” he said.

The merger places Tangerine Life as the fourth largest life insurer in Nigeria and positions it for future growth.

Access Bank Unveils Digital Payment Service for SMEs Nume Ekeghe In the bid to facilitate payments between SMEs and their retail customers, Access bank Plc has unveiled SWIFTPAY. The solution is a digital payment service that facilitates the receipt of business payments by enabling customers make quick, easy and secure digital payments on social media platforms to merchants.

The Group, Head, Emerging Businesses, Access Bank Plc, Ms. Ayodele Olojede, in a statement made available to THISDAY noted that the lockdown experienced in 2020 as a result of the COVID-19 pandemic, resulted in less in-person interactions and less in-person payment options.

She revealed that statistics

from a survey carried out post-lockdown showed that MSMEs were impacted by cash flow, revenue and sales, adding that the impact of the pandemic made more apparent the lack of infrastructure and access to digital resources for small businesses.

She stated: “Access Bank has introduced SWIFTPAY to support the digital transition and growth of SME businesses. This product is part of the bank’s commitment to support SMEs to meet their business objectives despite the times.

“The new service comes in form of a payment link that can be hosted on merchants’ social media pages and sent to anyone to pay and conclude business transactions.

“It is easy and takes less

than five minutes for interested merchants to sign up as it is convenient and time saving for everyone.”

Ayodele also revealed that the bank was committed to providing very practical solutions that support the growth of small business in Nigeria.

She added: “SWIFTPAY is free and the processing charge is discounted up to 15 per cent to ensure merchants keep most of their earnings.

“In recent times, e-Commerce has been challenged with the rise in fraud on social media, we have ensured that every merchant registered on SWIFTPAY carries a ‘verified by access ‘stamp to authenticate the page giving customers confidence when they transact.”

Halal Invest Wins $10,000 Grant Sunday Ehigiator Halal Invest, a digital market platform that simplifies access to variety of interest-free financial products and services, has won the maiden edition of the Nasrul-lahi-li Fathi Society of Nigeria (NASFAT) Business Incubation Launch Pad (BUILD) of $10,000 winner’s price.

At the award presentation held in Lagos recently, the President of

NASFAT, Olaniyi Yusuf, said the initiative which was launched in March 2020, was part of NASFAT’s 25th anniversary celebration, adding that the competition aimed at providing, “funding, mentoring and market access opportunities for young Muslim entrepreneurs and startups, which will enable them to innovatively address some of the major challenges of the world.

“NASFATBUILD provides

a genuine chance for Muslim entrepreneurs to change the world and improve the lives of some of the world’s most disadvantaged people.

“Our targets are entrepreneurs and startups with innovative solutions, entrepreneurial mindset, can-do spirit and a big idea or solution that has the potential to positively impact Muslims, Muslim communities and humanity at large.”

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY, 1 MARCH 2021

The price of OPEC basket of thirteen crudes stood at $64.24 a barrel on Monday, compared with $64.37 the previous Friday, according to OPEC Secretariat calculations.

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

SOURCE: OPEC headquarters, Vienna

41

T H I S D AY ˾ ͱ˜ ͰͮͰͯ

Mutual Funds’Value Grow to N1.43tn `on Increasing Demand Goddy Egene The Nigerian mutual funds market has recorded a significant increase as more investors now show interest in the market given the numerous benefits in investing through the asset class. The number of registered mutual funds with the Securities and Exchange Commission (SEC) grew from 76 in 2019, with Net Asset Value (NAV) in excess of N600 billion to 102 mutual funds

with NAV of over N1.43 trillion.

The Divisional Head, Listings Business, Nigerian Stock Exchange (NSE), Mr. Olumide Bolumole, disclosed this yesterday during the digital Closing Gong Ceremony to commemorate the election of Mrs. Tope Omojokun as the President, Fund Managers Association of Nigeria (FMAN).

According to him, 56 of the 102 mutual funds are listed on the NSE with NAV of over N1.24 trillion representing 88.3 per cent

P R I C E S MAIN BOARD

F O R DEALS

of total NAV. “This confirms the NSE as the preferred listing destination for this asset class and we will continue to strategically position ourselves to support the growth of our fund managers and our stakeholders.

“On behalf of the National Council and Management of the NSE, I extend our warmest congratulations to Mrs. Omojokun on her election as President, FMAN. I must also commend FMAN

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

QUANTITY TRADED

VALUE TRADED ( N )

for its continuous collaboration in ensuring increased efficiency and investor participation in the Nigerian mutual funds market.

Speaking, Omojokun expressed her gratitude to the NSE for the honour, stressing that FMAN was established to promote the operations of fund managers registered with the SEC and its objectives include self-regulation and supervision of its members; the enforcement of global best practices in its

T R A D E D MAIN BOARD

A S

members’ operations, and most importantly, the education of the public on investments.

“Working with the NSE has brought about the trading of listed funds on the exchange and are working towards the display of mutual funds prices on the ticker tape of the NSE. Furthermore, we are collaborating with the X-Academy to train our members and the public on adopting best investment practices and we look forward to

O F

other avenues to work together for the development of the capital market,” she said.

Meanwhile, the equities market closed in the red as the NSE AllShare Index (ASI) fell by 0.59 per cent to close at 39,697.62 following losses by Nestle Nigeria Plc, Lafarge Africa Plc and Flour Mills of Nigeria Plc. Trading volume declined by 59.1 per cent to 222.6 million shares while value rose 185.5 per cent to N5.4 billion.

0 2 / 0 3 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY MARCH 3, 2021 ˾ T H I S D AY

42

NEWS

Bandits Kill Six in Multiple Attacks on Kaduna Communities John Shiklam in Kaduna Six people have been killed by bandits in multiple attacks on communities in Igabi and Kauru Local Government Areas of Kaduna State.

This bring to 23, the total number of people killed in the state in the past three days, going by official confirmations of the attacks by the state government.

In a statement issued yesterday, the state

Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan said the six persons were “killed in isolated banditry incidents occurring in Igabi and Kauru LGAs, as reported by security agencies.”

He said in Igabi LGA, “the bandits barricaded the Birnin Yero-Tami road, and killed one Hussaini Suleiman Dari while one Dahiru Saidu was left injured and is receiving treatment in a hospital.”

The commissioner said further that in Gwada village, also Igabi, an attack by gunmen left two persons, Yahuza Sale and Garba Sule, dead.

Aruwan said, “In another incident, armed bandits invaded

Ungwan Kure, and killed two residents, Mohammed Sani Suleiman and Yahuza Sale.

“Similarly, armed bandits attacked Amawan Dadi Rugan Jauru settlements in Kauru LGA, one resident known simply as ‘Likita’

was shot dead”.”

He said “Governor Nasir El-Rufai noted the reports with sadness, and sent his condolences to the families of those killed, while praying for the repose of their souls.

He also wished those injured

citizen a quick recovery.”

On Sunday, seven people were killed in attacks on communities in Igabi and Kajuru LGAs while 10 people were killed by bandits in communities in Zangon Kataf and Chikun LGAs.

... Block Tegina -Minna Road in Niger, Kidnap 18 Passengers Laleye Dipo in Minna Bandits yesterday morning took over the Tegina - Minna road in the Rafi Local government of Niger State, and kidnapped no fewer than 18 people.

The 18 kidnapped people, according to an eyewitness, were travelling in three commercial vehicles when they ran into the blockade by the bandits at Kundu town a few kilometres from Zungeru town.

Kundu was the place 42 passengers travelling in the Niger State Transport Authority (NSTA) vehicle over three weeks ago were kidnapped.

The state government later secured the release of the commuters eight days after their abduction.

The passengers in the three vehicles were abducted and taken to unknown destination while the vehicles were left by the roadside.

A senior government official

who pleaded anonymity, confirmed the incident, saying nothing has been heard from the bandits to enable the authorities know the identities of those kidnapped.

In a related development, one person was killed while several others were kidnapped when bandits raided Manta town in the Shiroro LGA on Monday evening.

The bandits also ransacked the houses of the villagers, stealing foodstuff and other valuables items.

The Police had not reacted to the two incidents, as at press time.

The Central Bank of Nigeria (CBN) has meanwhile, donated relief materials to Internally Displaced People IDPs in Kuta and Gwada towns.

The items donated included rice, maize, Maggie and vegetable oil.

The items were presented by the Minna Branch Controller of the bank, Dr. Ibrahim Tulu

More Nigerians At Risk of COVID-19 Infection,Tomori Warns Onyebuchi Ezigbo in Abuja An expert in infectious disease control, Prof. Olawale Tomori has disclosed that more than ever before, Nigeria is still susceptible to the spread of COVID-19 infection.

He said that the country has no business putting all its hope on vaccines being donated by various organisations, adding that the government ought to act swiftly to order for the vaccines.

Tomori spoke yesterday on ARISE NEWS Channels, a sister broadcast arm of THISDAY Newspapers.

While appraising the performance of the country in the intervention against COVID-19 pandemic in the last one, the professor said though things were not so bad, but that the country should have done better.

“In terms of what has happened all over the country, I feel that the country could have done better. We could have prevented the number of cases we have now. We could have focused attention on the people and get them observe the non- pharmaceutical protocols as means of stopping transmission,” he said.

Tomori referred to recent survey study by the Nigeria Centre for

Disease Control (NCDC) and National Institute of Medical Research (NIMR), saying that it showed that there are actually more Nigerians infected by the COVID-19 virus than have been detected.

He said the survey indicated that about 20 to 25 per cent of the people in the states where the survey was carried actually may have been infected.

According to him, what the survey findings imply is that about 75 per cent not yet infected are at great risk of picking up the virus if nothing is done to strictly enforce the non-pharmaceutical protocols.

Speaking on the arrival of the 3.3 million doses of Astrazeneca vaccines to Nigeria, Tomori said that the government should move quickly to address the issue of vaccine hesitancy.

He said there is still so much doubt about the safety and efficacy of the COVID-19 vaccines.

He said that one of things that the National Primary Healthcare Development Agency (NPHCDA) should do is to find ways of clearing such doubts and letting people know that COVID-19 vaccines are safe and effective.

2023 ON THEIR MINDS…

L-R: National Organising Secretary of the Peoples Democratic Party (PDP), Col. Austin Akobundu (rtd); acting National Vice Chairman of PDP, South-east, Mr. Ali Odefa; Enugu State Governor, Hon. Ifeanyi Ugwuanyi; Abia State Governor, Dr. Okezie Ikpeazu; and former Governor of Imo State, Hon. Emeka Ihedioha, during the Zonal Executive Committee meeting of the party, in Enugu … yesterday

NDLEA Recovers 27 Rifles in Niger, Destroys 5 Hectares of Cannabis Farm in Ondo Operatives of the National Drug Law Enforcement Agency (NDLEA), Niger State Command have recovered 27 new rifles from two suspects during a routine stop and search operation in Kontagora area of the state.

The suspects; Danjuma Auta, 35, and Daniel Danrangi, 25, both male and from Dirin Daji, Sakaba Local Government Area of Kebbi State, were arrested along Kontagora – Zuru road, Niger state on Monday night.

According to the Niger state

Commander of the Agency, Mr. Aloye Isaac Oludare, the duo were arrested with 12 locally fabricated AK-47 rifles and 15 locally fabricated pistols. The rifles were concealed in a white sack while on a motorcycle to an unknown place when they were arrested.

“Kontagora where the weapons were seized is about 107 kilometers from Kagara, a town in Niger State where there have been mass abductions of women, children and secondary school students

in the last one month.

“Preliminary investigation shows that the fabricator of the weapons resides in Kamfaninwaya, not far away from Kontagora, while one of the pistols is fully loaded. The suspects and the weapons will be transferred to the Nigerian Police Headquarters, Minna for further investigation and prosecution of the suspects”, he stated.

In another operation, operatives of NDLEA, Ondo State Command have raided Ita-Ipele and Ipele forests, Owo LGA of Ondo

State. “During the operation, Six (6) suspects, namely; Stephen Ikechukwu, 38; Stephen Friday, 32; Austin Osadebe, 58; Friday Paul, 29; Adebayo Raphael, 25 and John Pius, 45, were arrested.

“A total of 41kgs of Cannabis Sativa and 6kgs of Cannabis Seeds were recovered during the operation, while a total of five hectares of Cannabis farm was located and destroyed”, the Ondo state Commander of the Agency, Mr. Haruna Gagara stated.

US, UK, EU, Germany, India Hail Arrival of Vaccines Nigerian partners have hailed the arrival of COVID-19 vaccines.

United States, United Kingdom, Germany, European Union and India, in separate reactions yesterday celebrated the arrival of the 3.92 million doses of the vaccines.

United States said: “The US joins in welcoming arrival of the COVID19 vaccine to Nigeria. We stand with Nigeria in the face of the pandemic, with over 60 staff working on a daily basis on COVID-19 response and vaccine roll out; epidemiology; outbreak

response; lab operations and data analytics.”

The United States further said it contributed $2 billion to COVAX with another $1.5 billion promised.

“We must work to finance health security; strengthen global health systems and create early warning systems to prevent, detect and respond to future biological threats because they will keep coming,” the United States also said.

UK, on its part, said it has committed up to £829 million to the development of COVID-19

vaccines, treatments and diagnostics and their distribution to developing countries.

In a statement in Abuja by the Head of Communications, British High Commission, Abuja, Dean Hurlock, the UK said it galvanised the efforts because it wanted to be a force for good in the world.

Apart from being the first to back COVAX, UK added it has committed £548 million to COVAX to ensure global access to vaccines and has consistently called on other donors to step

up their support.

On the arrival of the COVID-19 vaccines, the Development Director at the British High Commission, Dr. Christopher Pycroft, said: “We’re proud to be one of the biggest donors to COVAX, securing over one billion doses for the most vulnerable people in countries around the world.

“We do it because we want to be a force for good in the world, and because we need a global solution to a global pandemic.

India Promises Nigeria 100,000 Doses of CovishieldVaccines Michael Olugbode in Abuja After taking delivery of 3.92 million doses of Covishield vaccine from the Serum Institute of India (SII) at the Nnamdi Azikiwe International Airport Abuja yesterday, India has promised Nigeria yet another 100,000 doses of Covishield vaccines.

A statement issued by the Indian High Commission in Nigeria yesterday said: “India

will be gifting 100,000 doses of Covishield vaccines to Nigeria shortly, and 200,000 doses to the United Nations peacekeepers, which include many African military personnel.”

The statement added: “A large consignment of 3.92 million doses of Covishield vaccine from the Serum Institute of India (SII) arrived at the Abuja airport today (yesterday) under the Covax scheme of GAVI. “The Covishield vaccine

is the first COVID-19 vaccine approved by NAFDAC, and it is the first vaccines to reach Nigeria. It is also among the single largest consignments of vaccines shipped out of India.

“Nigeria is among the first few countries in Africa to receive the vaccine. In addition, India will be gifting 100,000 doses of Covishield vaccines to Nigeria shortly, and 200,000 doses to UN peacekeepers, which

include many African military personnel.”

Indian High Commissioner to Nigeria, Abhay Thakur, said the supply of vaccines to Nigeria is in keeping with Prime Minister Narendra Modi’s commitment made at the UNGA in September 2020 that India’s vaccine production and delivery capacity would be used to help humanity in fighting the COVID-19 pandemic.

43

WEDNESDAY MARCH 3, 2021 ˾ T H I S D AY

NEWSXTRA

Barkindo: Oil Market Outlook Remains Positive Emmanuel Addeh in Abuja The Organisation of Petroleum Exporting Countries (OPEC) remained upbeat yesterday, saying the the oil market’s outlook continues to be generally positive as the headwinds of uncertainty from last year continue to abate.

Secretary General of the group, Dr Sanusi Barkindo, speaking during the opening of the 49th Meeting of the Joint

Technical Committee (JTC), held via videoconference, stated that positive global economic developments and resilient demand in Asia were encouraging global oil market stability.

He highlighted that the meeting would set the stage for a busy week of negotiations, the outcomes of which he said will have a lasting influence on the crude oil markets in the months to come.

The event was the first stage in

the preparation for the third Joint Ministerial Monitoring Committee (JMMC) and second OPEC and non-OPEC Ministerial Meeting of the year.

Barkindo stated that both the global economic outlook and oil market prospects show signs of continued improvement, stressing that the headwinds of uncertainty that shocked and disrupted the market last year had continued to subside.

398 Firms Bid to Evaluate Assets Forfeited to FG Alex Enumah in Abuja A total of 398 estate surveyors and valuers have shown interest in evaluating assets finally forfeited to the federal government during the Request for Proposal (RFP).

Chairman of the Interministerial Committee on Disposal of Forfeited Assets, Mr. Dayo Apata (SAN), who is also the SolicitorGeneral of the Federation and Permanent Secretary, Ministry of Justice, said yesterday in Abuja that out of the 398 estate valuers that indicated interest for the RFP, 355 submitted their bids while six firms were

rejected.

He stated that the bid process was aimed at ensuring transparency and value for money.

“Upon the inauguration of the committee, we decided to have evaluation stages, in which all the assets will reflect the market value so that at the end of the day, the government will be selling or disposing of all the assets within the estimated value.

“So what we have done is to get experts in the field, and let them value the forfeited assets in conjunction with the Federal Ministry of Works and Housing to ensure value

for money, transparency and accountability in every asset disposed of,” he added.

Apata said after the evaluation, the committee would call in experts in conjunction with the Federal Ministry of Works and Housing to auction the assets.

The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), had inaugurated the interministerial committee on November 9, 2020.

The composition of the 22man committee was earlier approved by President Muhammadu Buhari on October 27, 2020.

“The economic recovery is gaining momentum. This is reflected in our latest global growth estimate of 4.8 per cent for 2021, up from the 4.4 per cent projection we shared at our last meeting.

“This is major turnaround from the grim conditions of 2020, with our most recent estimates showing the global economy plummeting by 3.9 per cent,” he noted.

He added that the Joe Biden

administration’s massive fiscal stimulus package, which passed its first legislative hurdle by winning US House approval last Saturday, continues to kindle hope for a sustained rebound.

According to Barkindo, against the backdrop of encouraging developments, oil demand remains on course to grow by 5.8 mb/d to just around 96 mb/d, noting that the

encouraging global economic developments and resilient demand in Asia are upside factors, especially beyond this quarter.

But while calling for caution, the OPEC helmsman, noted that regarding inventories, global shortterm floating storage has fallen every month since October and stood at 142 mb in January this year, significantly less than the 250 mb reached in mid 2020.

Gunmen Assassinate Suswam’s Brother George Okoh in Makurdi Gunmen suspected to be members of Terwase Akwaza alias ‘Gana gang’ were alleged to have gruesomely murdered Dr. Terkula Suswam, a brother to former Benue State Governor,

Senator Gabriel Suswam at Anyiin in Logo Local Government Area of Benue State.

According to a security source, the deceased, the proprietor of Ashi Polytechnic Anyiin, was on campus last night when the gunmen

arrived in a Toyota Corolla and shot him dead before fleeing the scene.

The Benue State Police Command through its Spokesperson, ASP Sewuese Anene said she could not confirm the incident.

PIB: 2.5% Fund for Host Communities Not Acceptable, Says Diri Bayelsa State Governor, Senator Douye Diri, has declared that the 2.5 per cent revenue proposed for host communities in the Petroleum Industry Bill (PIB) was grossly inadequate and unacceptable to the people of the Niger Delta region.

Diri stated this yesterday during a town hall meeting on the bill with members of the National

Assembly and stakeholders in Yenagoa.

The governor, who proposed that 10 per cent be provided for host communities, contended that if National Assembly members see first-hand the level of environmental degradation and its attendant effects on the people, they would not hesitate to increase it from 10 per cent.

The governor in a statement issued by his Chief Press Secretary, Mr. Daniel Alabrah, stressed that the PIB was critical in addressing issues such as unemployment, lack of transparency in the oil and gas sector, militarisation of oil production, skills acquisition and marginalisation of oil producing states.

WEDNESDAY MARCH 3, 2021 ˾ T H I S D AY

44

NEWSXTRA

House Urges FG to Secure Release of Pastor Yikura from Boko Haram Captivity Adedayo Akinwale in Abuja The House of Representatives has called on the federal government to do everything within its powers to secure the release of Pastor Bullus Yikura from the captivity of Boko Haram terrorists.

The resolution of the House was sequel to the adoption of a motion

of urgent national importance moved by Hon. Ahmed Jaha, at the resumed plenary yesterday.

Jaha recalled that on December 24, 2020, members of the Boko Haram attacked and burnt to ashes Pemi Village of Chibok Local Government Area of Borno State, The attack left eight people killed, two persons abducted,

Fuel Queues: We’ve Enough Petrol to Last for 40 Days, Says APC Adedayo Akinwale in Abuja The leadership of the All Progressives Congress (APC) said it has been given assurances by the Minister of State for Petroleum Resources, Mr. Timipre Sylva and the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, that the country has enough petrol to last for more than 40 days.

The National Secretary of the Caretaker/Extraordinary Convention Planning Committee,

including Yikura, and various food and other items either destroyed or carted away from the village during the attack.

He explained that on Wednesday, February 24, 2021, Boko Haram released a video clip that showed Yikura begging for help and give the federal government one week ultimatum to negotiate for his release.

The federal legislator expressed concern that the expiration of the deadline on Wednesday March 3, 2021 (today) anything could happen to Yikura who is still held captive by the insurgents.

The resolution of the House on the matter stated: “Government should do everything possible to secure the release of the victim before the deadline.”

The House also urged the federal government to come to the aid of the families of the deceased persons and the victims whose houses were burnt, and food items and other materials carted away to alleviate their sufferings.

Meanwhile, the House has called on the Ministry of Humanitarian Affairs to provide relief materials to victims of

banditry attacks at Amarawa village in Sokoto State.

The resolution of the House followed a motion of urgent national importance that was moved by Hon. Shehu Kakale, at the plenary yesterday.

Kakale observed that the rate of kidnappings and banditry attacks in IIlela Local Government and surrounding communities have become alarming, especially given the monumental consequences of such menace.

He recalled that on Sunday, February 28, 2021, bandits attacked Amarawa village, which resulted

to the killing of 13 people whose deaths were confirmed at IIlela General Hospital yesterday.

He lamented that six people who were brutally injured are presently receiving treatment at the Usman Danfodio University Teaching Hospital (UDUTRH) Sokoto.

The lawmaker expressed worry that the rate of kidnappings and banditry attacks in the area and neighbouring communities in recent times have left many victims without means of livelihood and basic necessities of life.

Senator John Akpanudoedehe, said in a statement yesterday that there was no need for panic buying.

He said, “We have received assurances from the Minister of State for Petroleum Resources and NNPC GMD that there is more than enough petrol to last the country for 40 days.

It is an artificial fuel scarcity.”

The ruling party urged petroleum filling stations to resist the urge to hoard products and illegally hike prices.

Ondo Police Parade Suspected Phone Thieves James Sowole inAkure The Ondo State Police Command yesterday paraded four men who allegedly stole phones at the inauguration ceremony of the state Governor, Oluwarotimi Akeredolu, second term in office last week, held at the Dome in Akure.

The men, according to the police, specialised in stealing phones at ceremonies.

The paraded suspects are Ojo Femi, 30; Abiodun Adewale, 45; Kayode Olarewaju, 45, and Aiwole, 25.

The suspects were reportedly nabbed by men of the Operation Scorpion Squad attached to the state government on the IleshaAkure road while returning to

their base in Oyo, Osun and Kwara States.

Seven phones stolen at the inauguration ceremony were recovered from them.

Ojo, who admitted to stealing six phones at the Dome, said it was his friend that gave him the phones, adding that he lives in Oyo State.

Adewale claimed that he picked the phone on the ground at the Dome before he was caught.

He confessed that he used to go to parties to steal phones and usually sold them for N8,000 and above.

The state police spokesman, ASP Tee-Leo Ikoro, said the suspects would soon be charged to court.

IN SEARCH OF NEW IDENTITY…

L-R: Member of Constitutional Review Committee of the All Progressives Congress (APC), Mr. Mohammed Kumalia; Committee Chairman, Prof. Tahir Mamman; and the Secretary of APC National Caretaker and Extra-Ordinary Convention Planning Committee, Senator John James Akpanudoedehe, during the inauguration of APC Constitutional Review Committee at the party’s National Secretariat, Abuja … yesterday ENOCK REUBEN

Ethnic Youth Leaders Ask FG to Sanction Shell Emmanuel Addeh in Abuja Several ethnic youth leaders, including the Arewa Consultative Youth Movement, Ohanaeze Ndi Igbo Youth Movement, Niger Delta Youth Council, Oduduwa Youths and Middle Belt Youth Council, have called for sanctions for any organisation sabotaging the country through the diversion of crude oil.

Speaking during a press conference in Abuja yesterday, members of the Council of Ethnic Youth Leaders of Nigeria, specifically demanded that the federal government should sanction Shell Petroleum Development Company (SPDC) Limited and its sister companies in Nigeria, for its complicity in the alleged diversion of 16 million barrels of crude oil.

They noted that the breach occurred at the Bonny Oil Terminal through the use of a manipulated and unapproved metering system, thereby understating the volume of crude oil which was pumped to the terminal.

Some of those present at the event were Capt. Bassey Henshaw, National President of the Niger Delta Youth Council; Mr. Kabir Yusuf of the Arewa Consultative

Youth Movement, Oluwadamilola Opeodu of Oduduwa Youths and Godwin Meliga of the Middle Belt Youth Council.

The Department of Petroleum Resources (DPR) had earlier waded into the matter, with Shell committing to refund about 2.1 million barrels of crude to some local oil companies including Belema Oil, Newcross, AITEO and Eroton.

8,000 Policemen to Monitor Delta LG Elections

Obiano Declares Gun-wielding Herdsmen as Criminals

Omon-Julius Onabu in Asaba

Anambra State Governor, Chief Willie Obiano, has declared that any herdsman found carrying gun(s) in the state should be treated as a criminal.

The governor said it was unwise to treat them with levity, adding that a fresh census for all herdsmen in the state has commenced, and that once the

Delta State Commissioner of Police, Mr. Ari Muhammed Ali, has disclosed that a total of 8,384 police personnel would be deployed for various security duties for the March 6, 2021, local government elections in the state.

Ali disclosed that the number to be assigned to election duties next weekend in the 25 local government areas of the state was made up of 8,292 policemen and 92 men drawn from the special constabulary in Delta State.

Specifically, Ali said policemen would be adequately deployed in all the polling units and collation centres as well as some areas identified or suspected to be ‘hot spots’.

The state police boss also announced that no policeman was permitted to escort any politician or candidate in the election throughout the duration of the exercise.

In a statement issued by the state Police Command acting spokesman,

DSP Bright Edafe, the commissioner assured the citizens and voters adequate protection, but warned those who wished to foment trouble during the council polls to rescind such decision.

According to the statement, “In the light of the forthcoming local government elections in the state next weekend, the state Police Commissioner, Ali, assures all residents that the state police command is committed to ensuring the security of everyone in the state by deploying its officers to all the polling units and also some speculated hot spots to maintain peace and calm all through the electioneering process.”

The statement further said the commissioner of police “remains resolute in ensuring the sanctity of the electoral process,” adding that appropriate measures are in place to ensure the security of both the electoral materials and officials engaged in this election.

David-Chyddy Eleke in Awka

exercise was concluded, the state will no longer tolerate itinerant herders settling in the state, or even passing through the state with their herds.

Obiano stated this yesterday at a stakeholders’ meeting on security with heads of various communities, security chiefs, traditional rulers and other groups, on the need to maintain security in the state.

According to the governor, “We

did census of herders in Anambra State last year, and they were 77.

We are doing a new one now, and after the census, we will never allow itinerant herdsmen to come to our state again.

“The ones causing trouble are not here (Anambra), they come in from outside. Also, we have heard reports of herdsmen who carry arms. Any herdsman carrying arm is a criminal, and we will not

tolerate that. If you find them, report them because they are criminals.

“We have prosecuted some in the past. We will not allow itinerant herdsmen to pass through Anambra State after the census.

We will have the names, phone numbers and address of all herdsmen in the state, and we will be holding meetings with them at intervals.”

Kwara, Oyo Partner on Security, Economy Hammed Shittu in Ilorin Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, yesterday led a delegation of state officials, traditional rulers and security chiefs to Ibadan, Oyo State, for a joint security meeting with the state Governor, Seyi Makinde, and top officials of the South-western state.

Kwara and Oyo States share common boundaries across many communities.

The meeting, which was called at the instance of AbdulRazaq, focused on the recent security breaches involving herders and local communities in Oyo State; the influx of displaced herders into Kwara State and the attendant socioeconomic and security issues.

In a statement issued in Ilorin, which was signed by the governor’s Chief Press Secretary, Rafiu Ajakaye, he stated that: “The meeting was also called on the need for political leaders to act fast

to sink the voices of non-actors who are spreading hate messages, and a need for the two states and traditional rulers across border communities to share intelligence while security agencies do joint patrols to curb criminal activities in the states.”

The statement added: “The initiative, which is part of the efforts of the administration to douse tension over the recent influx of herders into the state, is meant to further protect lives

and property.

“The meeting, which took inputs from the traditional rulers and security commanders, also discussed the prospects of the National Livestock Transformation programme of the federal government ending the decades of open cattle grazing and the perennial herders-farmers’ clashes as well as the need for leaders to stand firm and speak with one voice for peace and national unity.

WEDNESDAY MARCH 3, 2021 ˾ T H I S D AY

45

24 HOURS...

24 HOURS...

Insecurity: Tap from Obasanjo’s Wisdom, Saraki Tasks FG Kayode Fasua in Abeokuta

Amidst insecurity challenge facing the country, former Senate President, Senator Bukola Saraki, yesterday advised that the

federal government should tap from former President Olusegun Obasanjo’s wealth of knowledge.

Saraki made the appeal in Abeokuta, the Ogun State capital, after a closed-door meeting with

With UK Support, Nigeria Receives 16m Doses of COVID-19Vaccines Nigeria is set to receive COVID-19 vaccines through COVAX. The vaccines are among the first of more than a billion doses going to developing countries and at least 16 million to Nigeria this year through COVAX, which is explicitly designed to ensure global access to vaccines, including for low and middle-income countries, and to ensure that doses are allocated equitably at a global level.

Through a huge international effort - which the UK has led and galvanised - the whole world can now start moving towards the end of this pandemic, according to a statement issued by the British High Commission.

The statement noted that the UK was one of the first countries to back COVAX. To date the UK has committed £548 million to COVAX to ensure global access to vaccines and has consistently called on other donors to step up their support.

“We did it because we want to

be a force for good in the world.

We were also the biggest donor in 2020 to CEPI, an alliance financing and coordinating the development of new vaccines to prevent and contain infectious disease epidemics, including for COVID-19: these vaccines will help the global fight against the virus.

“So far, the UK has committed up to £829 million for the development of COVID-19 vaccines, treatments and diagnostics and their distribution to developing countries. This brings our total new UK aid commitment to fight the pandemic worldwide to up to £1.3 billion. We are one of the largest donors to the COVAX Advance Market Commitment – the scheme to ensure equitable access to COVID-19 vaccines by low- and middle-income countries. The UK has also helped to raise $1 billion for the coronavirus COVAX Advance Market Commitment (AMC) through match-funding other donors,” the statement explained.

the former President at the Olusegun Obasanjo Presidential Library (OOPL).

His visit to Obasanjo earlier attracted speculation that he was seeking the former President’s support for his 2023 presidential ambition.

But the former Senate President who led members of National Reconciliation and Strategic Committee of the Peoples Democratic Party (PDP) disclosed that the essence of the visit was to seek Obasanjo’s elderly advice on

how to move the party forward.

Saraki who recounted the former President’s contribution to the development of the nation, described him as an elder statesman who is committed to moving the country forward.

Saraki appealed to the federal government “to partner stakeholders to resolve the rocking crises bedeviling the nation”.

He equally corrected the notion that the security of the nation was the responsibility of the government, insisting that it

is the duty of every Nigerian.

“Obasanjo has sacrificed a lot for this country. Whether you like it or not, you cannot forget his contribution in this country.

“When it comes to how to move this nation forward, it will make sense to tap from Obasanjo’s knowledge,” he counselled.

Saraki said he was optimistic that his visit to the former President would see to the reconciliation and repositioning of the PDP. “Baba is not concerned about

the party but the country; I think there is a lot of propaganda concerning (Uche) Secondus’ removal; we want to start with meeting that will make us strong “It is important to meet someone who is committed to the unity of this country.

“As a committee, we need to seek his advice, to reconcile our party and reposition it.

“As you all know, Obasanjo is a person who has sacrificed a lot for this country, and continued to do that.

SEVENTY HEARTY CHEERS…

L-R: Book presenter, Professor Taiwo Osipitan; Secretary to the Abia State Government (SSG),Mr. Chris Ezemwife; celebrant and first female Dean of Faculty of Law, University of Lagos (UNILAG), Prof. Chioma Agomo; and the Vice Chancellor, UNILAG, Prof. Oluwatoyin Ogundipe, during the presentation of book written by Agomo on her 70th birthday, at the University of Lagos … yesterday

No Casualty as Fire Guts Army Headquarters

Middle Belt Dissociates Self from Food Blockage to the South

Kingsley Nwezeh inAbuja

The Middle Belt Forum (MDF) has dissociated the ethnic nationalities in the region from threats by the Amalgamated Union of Foodstuff and Cattle Dealers Association (AUFCDA) to stop the movement of food items from the North to the South.

In a statement issued yesterday in Kaduna, the Secretary of the Kaduna State chapter of the MBF, Mr. John Haruna, said the people of the Middle Belt region “shall continue to do business with their

An early morning inferno gutted the Nigerian Army Headquarters, Abuja yesterday.

The fire, which started at about 10:15am did not record any casualty.

A statement issued by the Spokesman of the Nigerian Army, Brigadier-General Mohammed Yerima, said the fire incident was caused by electrical fault in one of the offices.

He said the Army Headquarters was undergoing some renovation, which involved electrical work.

“Electrical fault sparked a

minor fire incident at the Army Headquarters Complex, Abuja, Tuesday morning.

“The incident which happened at about 10.15am was as a result of minor electrical fault in one of the offices”, it said.

The statement said “the Army Headquarters complex is currently undergoing some renovation involving electrical rework.

“The Nigerian Army Fire Service Department has since put out the fire. No casualty was recorded during the incident and normalcy has since returned to the complex”.

Ikpea’s Wish is to Divorce His Wife Legally, Say Family Members Contrary to a narrative making the rounds that respected billionaire businessman, Chief Leemon Ikpea, unilaterally evicted his estranged wife, Agnes, from their home in Lagos, members of the Ikpea family, friends and associates have explained that Ikpea appropriately, respectfully sought and obtained necessary procedures to divorce his estranged wife.

Some highly placed family members , friends and associates therefore enjoined members of the public to respect the well-thought out decision of the distinguished billionaire businessman and esteemed Adolor of Ewatto in Esan, Edo State, to seek legal divorce from his wife, Agnes.

The family members, friends and associates who craved anonymity because they were not authorised to speak publicly on the matter, said Ikpea is a dignified, respected

and accomplished family man who has raised all six children, born by Agnes for him as their father, to the most highly accomplished career, professional and business heights in life.

According to family members, the diligent, highly respected father and accomplished businessman has done what every distinguished father would offer for his children and family members. The family members pleaded with Agnes to give peace a chance, and retrace her steps by desisting from attempting to drag the businessman into the media terrain for unwarranted reasons.

Family members also urged the public to listen to the other side of the narrative and “respect the wishes and decision of our father and brother to pursue a permanent separation and divorce from his estranged wife, Agnes.”

John Shiklam in Kaduna

brothers in the Southern part of the country by supplying abundant food items.

The statement said: “All ethnic nationalities within the Middle Belt region comprising of youths, farmers, traders artisans e.t.c, from Benue, Kogi, Taraba, Plateau, Nassarawa, Adamawa, Southern Borno, Southern Kaduna, Southern Bauchi, Southern Yobe, Kebbi, Niger, Kwara, and FCT Abuja have disassociated themselves from attempts and call by some disgruntled elements to block food supply to the Southern part of

the country.”

Haruna who described AUFCDA’s called as laughable and unacceptable, said nobody can stop the Middle Belt region from supplying food items to the south,” stressing that the position of AUFCDA does not represent the position of Middle Belters.

The statement maintained that “no amount of blackmail shall force the Middle Belt to part ways with Yorubas, Igbo, Ijaw, Binis, Ibibios and other ethnic nationalities in South.

“Let it be known to this group (AUFCDA) that the era of divideand-rule by the so called core North is over, completely buried and gone for good. Such cannot be tolerated any longer; we no longer accept deceit and lies from anybody.

“The forum unequivocally advised those who are championing and supporting the call to rethink and desist from further making such an empty threat that will not auger well for them and their sponsors”, the statement said.

Ban on Zamfara Mining Activities, Double-edged Sword, Says Yoruba Group The Yoruba Ronu Leadership Forum yesterday raised the alarm that the ban on mining activities in Zamfara State by the national security council and the declaration of the state a no-fly zone area order are double-edged sword for peace.

In a statement issued by the President of the group, Mr. Mr. Akin Malaolu, the group

recalled that between 2006 and 2007 the then governor Sani Yerima displaced a large population of Fulanis from many mining sites and replaced them with Hausa youths to take charge.

The statement noted that the displacement at that time caused both discomfort and death on the Fulani youths who then took to banditry.

“If the government is placing ban, we hope they won’t cause new displacement that could re-enact same security challenges we are yet to surmount.

“Our candid advice is for the federal government to take absolute control of mining sites in Zamfara and in other states to nip in the bud such more scenario of troubles.

“Nigerians ought to be told the whole truth about the story that gave rise to banditry in the North-west of Nigeria.

Fortune has been made through unofficial gold mining for decades and now is the time to put complete stoppage to corruption in that sector. The no fly zone is proper”.

Alafin of Afin-Akoko Obaship Tussle: Kingmakers, Others May Face Contempt Charges Despite the decision of the Court of Appeal that parties in the Alafin of Afin-Akoko Obaship tussle should maintain status quo, the Ondo State Government and the Kingmakers are said to be going ahead to install an Alafin of Afin-Akoko despite the initiation of contempt proceeding against them.

The legal tussle to determine

who ascends the revered throne has been on since 2013.

The Court of Appeal sitting at Akure, Ondo State capital, had on November 5, 2020 ordered that parties to the Appeal No:CA/ AK/208/2017 between Meshack Odeja (Appeallant) & Ohers V Chief Zacheaus Adewunmi & Others (Respondents), to maintain status quo pending

the determination of the appeal.

The three-man Appeal Court panel was headed by Justice OF Omoleye, with Justice RM Abdullahi and Justice PA Mahmoud, as members.

The Ode Gbangba family, that is, the appellants appealed against the judgment of the Ondo State High Court and the Court of Appeal ordered parties

to maintain status quo pending the determination of the appeal.

The Respondents are yet to file their briefs despite being in receipt of the Appellants’ brief.

However, the Government of Ondo State and Kingmakers are going ahead to install an Alafin of Afin-Akoko despite the initiation of contempt proceeding against them.

46

WEDNESDAY MARCH 3, 2021 •T H I S D AY

47

WEDNESDAY MARCH 3, ͺ͸ͺ͹˾ T H I S D AY

WEDNESDAYSPORTS

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T O K Y O O LY M P I C S B A S K E T B A L L

D’Tigress, D’Tigers to Open Campaigns Against USA, Australia Duro Ikhazuagbe Nigeria’s senior women’s basketball team, the D’Tigress have been scheduled to kick of their campaign at the Tokyo 2020 Olympic Games against USA on Tuesday, July 26, 2021.

According to the fixtures for the basketball event of the Games released by the Federation of International Basketball Associations (FIBA) yesterday, the reigning African champions who missed out of the Rio 2016 games, will be presented another chance

Osimhen Certified Fit Again, May Play against Sassuolo Tonight Napoli striker Victor Osimhen will make a much-awaited return to action tonight in a Serie A clash at Sassuolo after he missed two games on account of a head injury.

Osimhen suffered a head injury at Atalanta last month and was forced to miss a UEFA Europa League clash at home against Granada as well as a Serie A game against Benevento.

The striker’s agent, William d’avilla, said

to prove a point against the team they narrowly lost to at the 2020 Qualifying Tournament in Belgrade.

After the opening clash with the Americans, the Nigerian ladies coached by Otis Hughley will next face world number five-France on Friday, July 30 before their last game against host-Japan who are ranked 10th on August 2 to round up their Group B outings.

In the men’s game, Nigeria’s

D’Tigers will open Group B hostilities against Australia on July 29 at the Saitama Super Arena in Tokyo.

Alongside Australia, the number one ranked team in Africa currently on a ninematch unbeaten run in all competitions will also play winners of the Olympics Qualifying Tournaments from Serbia and Belgrade between June 29 and July 4.

According to the FIBA fixtures,

after the completion of group games, the top two teams from each standing and the two best losers will qualify straight for the quarter-finals.

They will be divided into Group D (best four teams) and Group E (remaining four teams).

The quarter-final pairings for the men will be decided August 1 with the women’s tournament draws taking place the next day.

The women’s quarter final

matches will take place on Wednesday, August 4 before the Semi-finals and the Bronze Medal Game on Friday Friday August 6 and 7 respectively.

For the men, their quarter final games will come up August 3 before the semi-finals two days later.

The men’s final will be played on Saturday, August 7 while the women’s take place the next day.

Osimhen will be available for selection in the midweek clash.

He resumed training apart from the full squad at the weekend and was not listed on the matchday squad versus Benevento.

This season, Osimhen has scored two goals in 10 matches for Napoli in Serie A. Napoli are sixth in the standings with 43 points from 23 matches.

Unai Emery Excited by Chukwueze‘s Return for Villarreal Nigerian international, Samuel Chukwueze, has announced he is back to his best after his Man of the Match performance against Atletico Madrid at the weekend.

The Villarreal winger has overcome a groin injury, which needed surgery after it compromised his performances over time.

Despite the loss to the La Liga leaders, ‘Samu’ as he’s fondly called in Spain was the most dangerous player on the pitch – he provided the most key passes (4), most completed dribbles (4) and was the most fouled player (5).

Excited Villarreal Coach Unai Emery said Chukwueze’s comeback was “great news for the future of the team in this final part of the season,” adding the team were “beginning to see the Chukwueze that most

fans knew and that this year for some reasons we had not seen.”

“After his problems and surgery, the best of Chukwueze in a long time was seen against Atletico,” remarked Javier Mata of AS newspaper.

“From his arrival at Villarreal it was clear he was a special player. His speed and the ease which he went past his marker made him grow very fast in the team.

“The team had found a special player, a great footballer.

“The club worked quickly to improve his contract and increase his buy-out clause – from 65 million Euros to 100 million Euros.

“But after making the young Nigerian one of the top earners on the team, things changed, he seemed to have lost that hunger, that speed and talent, which made him different.”

HiFL Appoints Akinbinu as Health & Safety Consultant Organisers of the Higher Institution Football League (HiFL) in Nigeria have appointed Dr Babatunde Akinbinu as the Health and Safety Consultant for the competition with immediate effect.

The appointment follows the decision of the league management body to ensure that student-athletes compete for league title in the safest manner possible while getting the best medical attention at all times to keep them fit.

Dr. Akinbinu is a sports and exercise physician and runs an active public health practice.

He obtained his first degree in Medicine and Surgery at Obafemi Awolowo University, Ile-Ife, where he returned to undertake postgraduate studies in Public Health.

Speaking on the appointment, the Director, Pace Sports and Entertainment Limited, Mr Sola Fijabi said “the engagement of the consultant is part of the organisers resolve to ensure that all of the Covid-19 pandemic protocols are duly observed across the different venues as well as offering other health and safety-related counsel that would ensure that we keep our athletes safe and well throughout the tournament”.

In his acceptance message, Dr Akinbinu reiterated the commitment of the league to ensuring best practices in health & safety. “It is a great honour to be asked to serve in such role, especially in this period as the world recovers from the shock of the novel Covid-19 disease and returns to activities.

Nigeria’s D’Tigress have been scheduled to kick off their Tokyo 2020 Olympic Games women’s basketball event against World Number One ranked USA

AFCON 2022

Rohr Rates Aribo, Balogun Vital for S’Eagles Qualifiers Femi Solaja with agency report Ahead of the final match days of AFCON 2022 qualifying round of matches, Super Eagles Head Coach, Gernot Rohr, has rated the duo of Joe Aribo and Leon Balogun highly going by their performances so far with Glasgow Rangers in the Scottish league.

The Scottish side under Steve Gerrard are enjoying their lone status on the log and are two matches away from clinching the league with the two Nigerian stars playing leading roles in the team.

Rohr told UK’s Daily Recordthat “Since I invited Joe Aribo to the squad (Super Eagles) we have had only good performances from him. He was,

for us, an important player in the midfield with his left foot, mobility, commitment and fantastic mentality.

“He can play as a defensive or offensive midfielder. Joe is good at pressing and immediately struck up a wonderful relationship with Alex Iwobi.

“Joe scored in his first game for Nigeria against Ukraine in September 2019 and was one of the best players so we’re happy to see him in full flow and fitness for Rangers,” stressed the Franco-German gaffer.

Aribo formerly of Chalrton Athletic in England made his debut for Super Eagles in an international friendly match against Ukraine and scored his first goal for Nigeria.

The Super Eagles coach praised the way Aribo has been

able to adjust to the team and his contribution so far.

As for Balogun, who was part of his team to the last World Cup finals in Russia, the coach was not surprise that he is been used on the right back sometimes due to the player’s utility quality.

The AFCON 2019 bronze medal with Super Eagles was deplored from his conventional centre-back role to right back by coach Gerrard due to injuries the team was going through before the last match.

Balogun was singled out for praise by the former Liverpool player for the way be adapted to the position.

Rohr noted that he has seen Balogun play in similar role while he was in the German Bundesliga with Mainz 05.

Joe Aribo (in flight, right) gets high praises from Super Eagles Head Coach, Gernot Rohr

” “I have known Balogun for a very long time. He has a German mentality and has good speed which is very important for a central defender or full back as he can play both positions.

There is no difference for Leon Balogun playing at right back for Rangers just now because he’s played there before, for Nigeria and in Germany sometimes.

“He’s quick and intelligent and can change his position very quickly. For me, he’s strong enough to play either position. At the 2018 World Cup he played at the right of a three-man central defence so not quite a right back.

“I watched him playing in Germany for Mainz before I joined the Nigerian national team so I knew all about the boy. He was born in Germany and speaks German so we have a good relationship.

“Leon has a very good character and self-confidence and I was happy when he moved to Glasgow Rangers because he didn’t play enough in England.

“Leon is one of the leaders in my group and I’m happy he has had success in European competition with Rangers. He is also one of my vice captains, we have a young team in Nigeria and he is an experienced player which is vital,” Rohr said.

The coach is expected to name his 23-man team today or before the end of the week.

Wednesday March 3, 2021

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Middle Belt to North “Let it be known to Amalgamated Union of Foodstuff and Cattle Dealers Association that the era of divide and rule by the so-called core north is over, completely buried and gone for good. Such cannot be tolerated any longer, we no longer accept deceit and lies from anybody” – Middle Belt Forum dissociating itself from food blockage to the South.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

For a Broader Strategy I

t was a great relief for the nation yesterday that the students abducted last week from the Government Girl’s Science Secondary School in Jangebe, Zamfara state, regained their freedom.

The cheery news came amidst the deluge of sad stories on the security front barely 48 hours after President Muhammadu Buhari said the Jangebe kidnap would be “the last” of such a crime.

The President’s statement is the type that the people should expect from the commander-in-chief at this period of national anxiety. The assurance is important if only for its psychological effect.

Doubtless, silence at a grave period like this from the commander-in-chief is far from being soul-lifting.

However, the cloud of insecurity hovering over Zamfara may not have been cleared as the release of the students coincided with yesterday’s meeting of the National Security Council in Abuja.

Among the outcomes of the meeting was the military step taken to declare Zamfara a “no-fly zone.” The National Security Adviser (NSA), Major-General Babagana Monguno, said the President has approved that no aircraft should be permitted to fly in the state.

Another significant step taken in the light of the peculiarity of Zamfara state was the ban on mining activities “until further notice.” Mining

of gold has been at the centre of the riddle of criminality in the northwest state.

Monguno also reiterated the charge to the security and defence forces to confront bandits and other criminals and recover parts of the nation’s territory already occupied by these non-state actors.

The matter is made more complex by the fact that some of the criminals dominating the Nigerian forests are reportedly foreign elements.

The President put it more sharply last Friday with a statement that state governors should not pay ransom for kidnaps. He would rather the bandits are roundly defeated.

On that occasion, Buhari also reminded the states of their security responsibilities. For instance, the President asked state governors to keep their schools safe.

While the President sounded tough on the criminals, the approach of Governor Bello Matawalle of Zamfara state appears to be less combative. In announcing the end to captivity of the girls, the governor attributed their freedom to “series of dialogue and mediation with repentant bandits and scaling of hurdles of those who want to scuttle our effort…”

Tragically, the policy dissonance between the federal government and the states on security has continued while ungoverned spaces abound

in the country.

It is precisely because of this apparent lack of synergy of purpose that the National Security meeting at this period of emergency (even though it has not been formally declared) ought to be sometimes expanded to include the state governors.

This is, of course, without prejudice to constitutional provisions on the composition of the council.

Already, the governors are constitutionally members of the Nigeria Police Council. The functions of the council include the “organisation and administration” as well as the “supervision” of the police. But that body is not as active as it should be at this time.

If the governors have to frontally deal with terrorists, bandits, kidnappers and other criminals, they should be involved more intimately in shaping security policies and reviews for the purpose of coordination and coherent implementation. The truth is that state governments already make a lot of investments in the security and defence sector that should entitle them to a greater say on things.

The security map would also be broadened when state governments take advantage of the possibilities within the present constitution (pending restructuring) to perform their security duties.

In recent times, certain security steps have

been taken by some state governments in this direction. Governor Willie Obiano of Anambra state has declared herdsmen bearing guns as “criminals,” as a census of herders in the state is being taken. In Delta state, the police have warned that “gun-wielding” herders would also be treated as criminals. Benue state was once the epicentre of herders/farmers clash. Now the Benue state government seems to be taking some firm control of activities in the state. About 210 cows were seized the other day by the government for violating the law prohibiting open grazing.

They were released after the owners of the cows paid the relevant fines.

The point at issue is that state governors may not be as helpless at they often erroneously claim. After all, it is the duty of the state attorneys-general to prosecute bandits, kidnappers, armed robbers and other criminals. The governors should, therefore, be wary of taking actions that could be ultimately diversionary.

In view of the degeneration in the security situation, a case can certainly be made for broadening the strategy. Things should, therefore, be better coordinated between Abuja and the states with confidence- building steps.

This is more helpful in the circumstance than stoking ethnic and religious tensions that could only exacerbate the current crisis.

NUHURIBADU GUEST COLUMNIST

Ngozi, By Way of Congratulations

Y

esterday, my friend and former colleague, Ngozi Okonjo-Iweala, took the reins at the Geneva offices of the World Trade Organisation (WTO), becoming the first female and first black director general of the multi-lateral organisation. It was a day of fulfilment for her and a day of pride for some of us close to her and indeed all those in the demographics she represents.

Yesterday was the culmination of a spirited determination by an individual who believed in herself. It was also a mark of an increasingly liberal and accommodative world in which all persons are treated on the basis of the value they bring to the table, other than other intangible considerations. It was heartwarming that some perverts who wanted the whole world to behave in a parochially primitive way in making this important decision were roundly defeated. They and their insularity have been thrown out, giving way for modernity, and my friend Ngo, as we fondly call her, to triumph.

In Ngozi, I believe, the world has gotten the right nut for the bolt that is WTO. At a time when the global economy is feeling the vibrating impact of a debilitating pandemic, and when mutual suspicion and horse-trading define international trade, the world definitely needs an arbiter who is firm, passionate and a stabiliser. We have that, and more, in Ngozi.

Having worked closely with her for four years (2003-2007), and having followed her career and activities since then, it is not difficult to testify

Okonjo- Iweala positively of Ngozi’s high performance and excellent leadership.

Ngozi and Oby Ezekwesili are two great women that I worked with and benefited immensely from their brilliance, passion, great work ethics and commitment. At a time when there was still conservative misgivings about women leadership in our country, Ngozi and Oby served as trail-blazing achievers who silenced misogynistic naysayers.

Ngo is one of the key architects of modern Nigeria, especially for her surpassing role in anchoring the economy and championing reforms whose impact

changed the Nigerian government and economy for good. Those reforms impacted aspects of our lives from the public service, banking, pensions, and a host of other sectors. To her credit, unlike many a former senior official of her standing, Ngo never went back to destroy what she built.

She always moved on.

She was an exceptional manager who mastered the art of insisting the right thing, in the right way.

She has the gift of identifying steps that need to be taken and challenges that need to be fixed, and would invariably get them fixed. Beyond her person, Ngo knows how to lead you to where you wanted to go, and where you ought to be as well. She is, without doubt, a shining example of amazing selflessness. I saw this at close range with the support she offered us in building the Economic and Financial Crimes Commission (EFCC), especially during our bid to get Nigeria out of the Financial Action Task Force’s list of Non-Cooperative States and Territories.

However, one remarkable attribute of Ngo is her carriage. She exudes confidence, charisma and gravitas. She never looked herself as a woman, which makes it easy for everyone to see as leader.

She was also not just an effective manager of human resources, or your typical bossy slave driver; she was a worker herself. Ngozi works every bit of her time. Rarely could you find a more hardworking person at that level. As an extremely brilliant person, she engaged her team, and fellow senior government officials in dissecting issues beyond emotions and superficial bureaucratic

niceties. These made her survive the slippery floors of power and the patriarchal milieu of the Nigerian political space.

For a person in a country with sharp ethnoreligious divisions, Ngo demonstrated rare virtue of large heartedness and accommodation. Unlike what many in her position are wont to do, Ngozi did not surround herself with persons from her southern part of the country, her ethnic group, or religion.

I do not know if it was by choice or coincidence, but her personal secretary was a Fauziyya Ahmed, from Kogi state. Her police security attaché was Alhaji Musa Abubakar Babura. The senior civil servant supervising her office was Alhaji Haruna Mohammed, from Katsina. For a long time when we were in government, Ngozi’s personal assistant was a certain Mohammed Yusuf, a Katsina man.

But as a mark of genuineness of her intention, she never bragged about it, even at a time when she was ignorantly accused of ethnic chauvinism.

There is something unique about Ngo’s offices; whether as Finance Minister in Nigeria or at the World Bank in Washington DC. There was always a portrait of Sir Ahmadu Bello, the Sardauna of Sokoto, conspicuously displayed. This is yet another ‘oddity’ for those familiar with the Nigerian socio-political space.

Ribadu, founding chairman of EFCC, writes from Abuja.

NOTE: This piece continues in the online edition on www.thisdayliive.com

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