TUESDAY 5TH MARCH 2024

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Emmanuel

In an emotion-laden voice, Alhaji Aliko Dangote, Africa's richest man, fought hard to hold back tears but couldn't as he led a horde of private sector professionals to pay tributes to the late Access Holdings Group CEO, Dr Herbert Wigwe. He described Wigwe as a visionary, a perfectionist who gave so much of himself for others. But said he was partly consoled because Wigwe’s transformative strides were all over the landscape.

Dangote stated that Wigwe broke all records and pushed boundaries in banking, reshaped the sector, emphasising that his philanthropy will never be forgotten.

Africa’s

www.thisdaylive.com Tuesday 05 March, 2024 Vol 29. No 10555. Price: N400 TRUTH & REASON of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday, decried rising global public debt saying borrowing remained a significant concern globally, particularly in developing nations, where high debt levels were worsened by greatly restricted fiscal space and limited opportunities for concessional finance. He said Nigeria was at “moderate" overall risk of sovereign stress. Stating that the country’s Continued on page 24
profile remained stable
Emejo in Abuja Governor of the Central Bank ProfEssioNals hoNour WigWE... L-R: Founder, Guaranty Trust Bank, Mr. Fola Adeola; Governor,
Bank
Group, Mr.
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honour of Late Herbert
ETOP UKUTT
on page 24
24
sovereign
James
Central
of Nigeria, Mr. Olayemi Cardoso; Governor, Lagos State,Mr. Babajide Sanwo-Olu; Chairman, Coronation Aigboje Aig-Imoukhuede; his wife Ofovwe; daughter of Late Herbert Wigwe, Tochi Wigwe; son, David Wigwe; and daughter, Hannah Wigwe, during “Celebrating Professional
in
Wigwe in Lagos... yesterday. PHOTO:
Continued
Continued on page
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in Abuja, Wale igbintade and Nume Ekeghe in
of his on Nigeria’s Expatriate Employment Levy (EEL).” LCCI: We are Concerned about Likely Perception FG Isn’t Accommodative of Foreign Workers
onwuamaeze
richest man said Wigwe was a pillar of strength for him and his businesses, and went out
Dike
additional levies of $10,000
$15,000 on expatriate staff
accommodative of foreign workers. LCCI warned that such perception would harm the country’s drive for Foreign Direct Investment (FDI), and said there was need for a balanced approach to expatriate employment. Director General of LCCI, Dr. Chinyere Almona, made the assertions yesterday in a public statement, titled, “LCCI Perspective obi hails obasanjo as True Patriot at 87... Page 29 adesina: a fDB in Talks to Provide Nigeria with $1.76bn ... Page 8 idahosa Wants iNEC to uphold aPC Primary of february 17 That Produced him as flagbearer... Page 27 Dangote in Tears, Names Refinery Road After Wigwe Says he feels helpless unable to help his friend Clinton, Obasanjo, others pay tributes to late banker Sanwo-Olu pledges to immortalise him CBN reviews FX rate on import duties to N1,544.081/$ Country at high risk of debt distress amid low revenue, says WAIFEM boss Cardoso Decries Rising Global Public Debt, Says Nigeria's Sovereign Obligations Stable
Following the
and
and directors, respectively, by the federal government, the Lagos Chamber of Commerce and Industry (LCCI) has expressed concern about likely perception by foreign investors that the Nigerian government is not
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Shettima: Govt's Policies Strategic to Strengthen Nation's Economy

Launches Outsource to Nigeria Initiative to capture share of $8.79trn global BPO market

Deji Elumoye in Abuja and Segun Awofadeji in Gombe

Vice President Kashim Shettima has launched the "Outsource to Nigeria Initiative" (OTNI), saying the project is strategic to redirecting the talents and skills that abound in the country.

Shettima said the initiative targeted capturing a significant portion of the global BPO market valued at $8.79 trillion. The vice president spoke yesterday during the launch of OTNI in Gombe State.

He stated that apart from creating millions of job opportunities and spurring Nigeria's Business Process Outsourcing (BPO) and IT-enabled services sector into growth that had never been witnessed before, the OTNI will link global firms with the abundant talents and skills in Nigeria.

Shettima stated that the spotlight was now beamed on Nigeria following its "abundance of talent, a competitive cost structure, a rapidly improving ICT infrastructure, and a strategically advantageous location."

Delivering his address titled, "Bringing the World to Our Doorsteps," the vice president described his principal, President Bola Tinubu, as a visionary leader and "refined economic strategist", who had a firm grip on the distinction between the current situation in Nigeria and the route within the global landscape.

Shettima assured that the ongoing reforms being carried out by the Tinubu administration will soon guarantee a future where all Nigerians

FG

will be grateful for the "resilience and foresight displayed" in navigating the nation towards economic prosperity.

He said OTNI was capable of turning around the economic fortunes of the country.

Shettima said, "Outsourcing, as an economic strategy, is not just about efficiency; it’s a profound recognition of our interconnectedness in the global economy. Outsourcing is also a strategy to counteract brain drain and channel our talents and skills into reconstructing a Nigeria that works."

Stating that it was time Nigeria recognised its potential, embraced and explored the markets that were yearning for the country's unique contributions, the vice president pegged the BPO industry at $250 billion.

According to him, "The Outsource to Nigeria Initiative (OTNI) symbolises a pivotal alliance, a collaborative dance between the public and private sectors. This is a mission to produce millions of job opportunities and propel Nigeria's Business Process Outsourcing (BPO) and IT-enabled services sector into unprecedented growth.

"OTNI is here to connect global companies with the abundant talents and capabilities inherent in Nigeria. This initiative marks a strategic leap forward, positioning Nigeria as an emerging outsourcing powerhouse ready to make an indelible mark on the global economic landscape.

"Today, we are not only presenting to you the Outsource to Nigeria Initiative (OTN) with the honourable aim

of taking over the world. We present to you a lens to see the needs of the world, a bridge to interact with the world, and a vehicle to reach the world from the comfort of your offices and homes in Nigeria."

Shettima implored Nigerians to be patient with the Tinubu administration in respect of the economic decisions taken so far, explaining that though it may present some temporary challenges, they are a strategic investment targeted at strengthening the fabric of the nation's economy.

He stated, "The tough decisions we have taken may pose short-term challenges, but rest assured, it is a strategic investment to fortify the foundations of our economy. As your guarantee, I affirm that the reforms in progress will not only weather the storms but usher in a

future where we shall stand grateful for the resilience and foresight displayed in propelling our nation towards economic prosperity."

The vice president said Nigeria was on the verge of carving its own narrative within the global BPO landscape, as well as solidifying its role as a key player in the international business arena.

Shettima said Nigeria had "a colossal talent pool exceeding 200 million people and complemented by competitive labour costs, an evolving ICT infrastructure, unwavering government support, and a strategic location in proximity to European markets." He said these had positioned Nigeria "as a prime outsourcing destination".

Earlier in his speech, Gombe State Governor Inuwa Yahaya stated that

the decision to launch the “Outsource To Nigeria Initiative (OTNI)” in the state was not a mere coincidence. Yahaya said it "is a testament to the state’s burgeoning potential and the exemplary strides we have made in fostering an enabling environment for technology innovation and economic growth."

Yahaya explained that the partnership with Outsource Global was an indication of the tangible support the state government was willing to provide to businesses that chose to invest in Gombe State.

"This strategic investment not only creates job opportunities but also signifies our proactive approach to providing the necessary infrastructure and resources to attract and support private investment," he added.

On her part, Founder/CEO of

Hajiya Amal Hassan, pegged

value of the Global BPO & ITES

at $8.79 trillion in 2024, with India and the Philippines dominating at least 60 per cent of the market. Hassan said Nigeria boasted "the highest potential among key African countries," and was expected to register the fastest growth in the African BPO industry backed by various tailwinds, even as the country's "demographics are well-suited to take advantage of the current global trend in global business." Hassan explained that the initiative would be accomplished through streamlined processes, using OTNI's "digital platform WorkNation to help partners find, train, and deploy talents according to their requirements.

Continues online

Access Bank Launches YouThrive, Sets aside N50bn to Empower over 700,000 MSMEs

Access Bank Plc has launched the “YouThrive” initiative that would empower 700,000 micro, small and medium scale enterprises (MSMEs) in Nigeria with N50 billion loans. This was announced by the Deputy Managing Director of Access Bank, Mr. Victor Etuokwu, at the bank’s head office in Lagos, recently.

Etuokwu, revealed that MSMEs that would benefit from the programme would undergo trainings to enhance their capacity to optimally make use of the loan.

He said: “Access Bank is set to financially empower over 700,000 youth MSMEs and to achieve this; we have set aside N50bn to lend to them at a huge, discounted interest rate.

“To be eligible to access this loan, all applicants must be within the ages of 21 to 40 years.

them, and the curriculum will be centred on technology, creatives, business management and skill acquisition,” a statement quoted him to have explained.

“Every year, 700,000 would be given access to financing, and 300,000 would be trained.

“After that, we will take the best advice from the best and return to Nigeria to implement it.

on Review

Minimum Wage

Edun to chair South-West zone

Francis in Abuja

The federal government has set up zonal public hearings across the six geopolitical zones of the country for the review of the National Minimum Wage.

The hearings are scheduled to hold in the North-East (Yola), NorthWest (Kano), North-Central (Abuja), South-South (Uyo), South-East (Enugu), and South-West (Lagos).

The South-West Zonal Public Hearing is to be chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

A statement issued by the Head, Press and Public Relations Unit of

the Ministry of Finance, Chukwu Helen Oby said the South-West zonal public hearing will be held at the LTV Blue Roof Arena, Agidingbi Ikeja, Lagos on March 7, 2024. According to the statement, the session aims to gather insights and recommendations to inform a fair and sustainable minimum wage policy, reflecting the engagement and contributions from various stakeholders in the region.

"Joining Mr. Edun on the panel are distinguished members including Governor Adeleke Ademola of Osun State, representing state government interests; Omo-Lamai Grace from the Manufacturers Association of

Nigeria and Muhammed Nura from the Nigeria Association of Small and Medium Enterprises, voicing employers' perspectives; and from the organised labour, Adeyanju Adewale (NLC) and Shuaibu Afusatu (TUC), alongside Honourable Minister of State, Labour and Employment, Onyejeocha Nkeiruka.

"This event marks a pivotal step in ensuring a fair, sustainable national minimum wage, reflective of our economic realities and aspirations. Stakeholders are invited to contribute to shaping a policy that balances the well-being of workers with the economic health of the nation," the statement said.

“The Youthrive’ is a transformative initiative designed by Access Bank to empower, uplift, and accelerate the next generation of MSMEs. In the next four years we will empower 4 million youth, one million per year.

“It would not just be about lending, we are holding various capacity-building activities for

The Head, Emerging Businesses, Access Bank, Ms. Chioma Ogwo, also reiterated Etuokwu’s comments at the Inaugural Job Creation and MSME Quarterly Communications Forum that was hosted in Abuja by the Senior Special Assistant to the President on Job Creation and MSME.

Ogwo said: “In four years, we hope to empower four million people, which is one million each year. We have a business exchange program for the beneficiaries that would enable the SMEs to go and exchange ideas with their counterparts in other countries.

..Daily turnover drops by 39%

Nume Ekeghe

The Naira yesterday recorded gain for a fourth consecutive day at the official window but has however taken a dip at the parallel market. The naira on the parallel market depreciated to N1,635 from N1,575

it exchanged on over the weekend representing N60 decline.

However, the official Nigerian Autonomous Foreign Exchange (NAFEM) appreciated yesterday closing at N1,534.19 signifying a N14.06 gain compared to N1,548.25 it closed on Friday.

“There is also going to be employment opportunities as 1000 outstanding individuals who receive these trainings by the Bank and its holding companies will be recruited within the Tech space, the Access corporation ecosystem and other partner companies.”

Speaking on the initiative, the Senior Special Assistant to the President on Job Creation and MSMEs, Mr. Temitola AdekunleJohnson, said the initiative by the Access Bank would help address the issue of access to affordable loans by small businesses.

Notably, the daily turnover recorded stood at $178.63 million indicating a 39.95 per cent drop from $296 million, on Friday. Also, the highest spot rate yesterday was pegged at N1600.75, while the lowest spot rate recorded was N1,425.35.

THISDAY • TUESDAY, MARCH 05, 2024 5 NEWS Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580
Ndubuisi
Sets up Six Zonal Hearings
of National
Naira Gains at Official Window, Depreciates at Parallel to N1,534/$1, N1,635/$1
Dike Onwuamaeze hONOuriNg WigWE... L-R: Chairman , Access Holding, Mr. Abubakar Jimoh; Mrs Mfon Usoro; President of Dangote Group, Alhaji Aliko Dangote; and Chairman, Access Bank Plc, Mr. Paul Usoro, during Celebration of Professional Excellence in honour of Late Herbert Wigwe in Lagos... yesterday. PHOTO: ETOP UKUTT OTNI, the Market
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FaCts BEhINd thE LIstINg aNd CLOsINg gONg CErEMONy OF traNsCOrp pOWEr...

Adesina: AfDB in Talks to Provide Nigeria with $1.76bn

Urges country to adopt export-oriented industrial strategy to address FX challenges

President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has disclosed ongoing discussions between the multilateral institution and the federal government to provide Nigeria with $1.76 billion in concessional financing to stabilise the economy

He emphasised the urgent need for Nigeria to secure longterm concessional financing from multilateral sources and also urged

the West African country to shift towards an export-focused mindset in order to address the ongoing forex challenges.

Additionally, he pointed out that the bank has initiated several agricultural interventions aimed at yielding positive results this year to address food insecurity.

He said this in an interview with journalists in Lagos yesterday.

“This year we expect to approve with our board because we always go to our board of directors for

approval, we plan to be able to do $1.76 billion of financing to Nigeria in different sectors, including considering a potential policy base operation of budget support to Nigeria.

“We are discussing with the Minister of Finance. That is part of a $1 billion budget support operation that will go into two tranches. Again, I will say it has to be approved by the board, but these are all the things that we are hoping to be able to do.”

Speaking on the foreign exchange challenges the country was facing, Adesina said: “There is a need to expand the access or the availability of forex. When currencies weaken, what you have is that you don't have enough forex to actually back your currency and therefore your currency depreciates.

“So, when you take a look at it, the approach that Nigeria has been following for decades now, I think it's been the approach of basically allocating forex, so it’s an allocative

NCC: Why Some SIM Cards Previously Linked to NIN Were Barred

Chuks Okocha in Abuja and Wale Igbintade in Lagos

The Nigerian Communications Commission (NCC) yesterday explained why some telecommunications subscribers who previously linked their Subscriber Identity Module (SIM) cards to their National Identification Numbers (NINs) still had their mobile lines barred.

NCC spokesman, Reuben Muoka, said “people who probably didn’t get a cleared or verified NIN” have been barred because “the earlier ones they submitted was not good”.

Muoka, who was on a television programme monitored by THISDAY said some SIM cards had verification and identification issues, including disparity in information, names and other data.

“There are still some subscribers whose NINs are yet to be verified by the National Identity Management Commission (NIMC) and those have to also be corrected,” he said.

Many subscribers had complained that they had previously linked their NIN with their SIM cards years ago, but the NCC official said some lines were barred because the information on the NIN did not tally with what the customers registered with their SIM cards.

He said subscribers will have to visit the outlets of their service providers to validate their NINs and resolve other matters.

“For now, it requires those physical visits to the stations to get it verified and validated but in the future, we hope that this will be done virtually,” the NCC spokesman said. The NCC had last week issued a directive to telecoms service providers to bar subscribers who have failed to link their phone numbers to their NIN on or before February 28, 2024.

As of December 2023, Nigeria had over 224 million, according to data from the NCC, with MTN boasting over 87 million subscribers, representing 38.79 per cent of the total market share, the highest in the country by any licensed Mobile Network Operator (MNO).

Globacom and Airtel had 61 million subscribers each, while 9mobile had 13.9 million users.

Millions of lines were barred last week at the expiration of the deadline, but the regulator’s spokesman said the NCC had been going through one deadline after the other since 2022 “to give extension for convenience but it is time to get to a closure”.

He added: “Take it that everybody who has not submitted his NIN to the service providers has been barred. Actually, the service providers started barring people many days to the deadline,” he explained.

Muoka, however, said it will be difficult to tell the actual number of

phone lines that had been barred, but that the NCC will do an audit before the end of the week as data is expected from service providers.

He said the NIN-SIM linkage has an objective to make Nigerians have digital identity to tackle security matters.

"The whole essence is actually to achieve the convenience that digital services and products will

offer. By the time you have your identity together, you will be able to attend to a number of things.

“Even the banks are now asking their customers to link their NINs to their Bank Verification Numbers (BVNs). It is actually to make a holistic package of all your digital services,” he stated.

position in times of a very restricted supply of forex. And that's because Nigeria runs an import substitution strategy and that we have constantly been doing for a very long time.

“Nobody wins by playing defense. And the way to score is for Nigeria to have in my view, an export-oriented industrial manufacturing stance, that export-oriented industrial manufacturing stance.”

Speaking further, he said: “It is like a funnel, in which you bring in more forex, because you are actually developing your value chains that are export-oriented and earning a lot of forex, as opposed to a redistributive model of a small amount of forex.

“The country has to build industrial value chains in which it has a huge competitive advantage. It can be in agriculture, oil, it could be in gas, it could be creative industries, digital industries, or any kind of industry that allows you to have the platforms to be a manufacturing powerhouse. That is a long-term solution to the problem that you have today.”

Also speaking on the currency crisis, he said: “The only way in which countries like Nigeria and others can get more access to capital is to go to the Eurobond market, the global capital markets, which again becomes more expensive because

the yield curves are very different.

“Right now, basically, the pricing becomes more expensive. So, I will say that there are probably about maybe three or four things that I will say. One, of course is to expand the access or the availability of forex when currencies weaken.”

He also noted that to tackle inflation, the focus should be on tackling the structural issues around agricultural output, noting that interventions taken by the AfDB would improve food supply this year. He said: “As I speak to you today, we have approved $134 million for Nigeria to implement an emergency food production plan.

“Already, we have supported the cultivation of 118,000 hectares of wheat in Nigeria, already this season. We are also supporting by March, which we just entered, 150, 000 hectares of maize production.

“By the rainy season which comes up in May or June, we will support Nigeria to do 300,000 hectares of rice. We will also do 300,000 hectares of maize, 150,000 hectares of cassava and 50,000 hectares of soybean. So, that means that by the end of March, Nigeria would get out an additional one million metric tons of wheat and by November, we'll have an additional four million metric tons of rice, cassava, maize and soybeans.”

Medical Tourism: Indian Hospital to Train Nigerian Doctors on Cancer Treatment

Michael Olugbode in Abuja

In order to bring effective treatment of cancer to Nigeria, an Indian Specialist Hospital, Apollo Hospitals, has offered to train doctors in the country on treatment of the life threatening disease.

The hospital also disclosed its readiness to establish local medical infrastructure in Nigeria and bring in state-of-the-art medical equipment.

Vice President (International), Apollo Hospitals, Dr. Karthik Anantharaman, who spoke to journalists in Abuja said his hospital will partner with local hospitals in Nigeria to help the country reduce medical tourism.

India remains one of the major countries where Nigerians seek medical treatment for cancer among other serious ailments.

According to Anantharaman, Apollo hospital alone attends to between 1,000 to 2,000 patients from Nigeria yearly.

He said: " We want to be partners in setting up local medical infrastructure in Africa, in Nigeria. So Apollo hospital is now actually coming to Nigeria with a more strategic intent to train the local doctors.

"Likewise, we are now going to be partnering with many hospitals on training programmes, because we truly believe that if we can train the Nigerian doctors and the Nigerian

doctors have the right skill sets to be able to treat patients locally, a lot more patients can benefit because not everyone will have the money to travel to India or travel to some other country to get the treatment.

"So if the local doctors have better training, better skills, then a lot of patients can be treated within the country. This is our main focus now, to do the skill building, our second main focus is to have partnership with local hospitals.

"We want to have stronger partnerships with local hospitals where we can actually have Apollo staff to be here to not just train the local doctors, but also to offer full time medical care under

partnerships and their operations and management contract."

He also revealed the plan of the hospital to invest on oncology clinics in the country. He said: "Investments we are making is in the area of setting up day-care oncology clinics with very minimum investment."

Highlighting the importance of partnering and training local doctors, Anantharam said: “Across the group we see at least 100 -250 Nigerian patients that come to Apollo hospitals on a monthly basis, which means in a year at Apollo Hospital, we are treating at least about 1000 to 2200 Nigerian patients in a year across Apollo hospitals.

8 TUESDAY MARCH 05, 2024 • THISDAY NEWS
Lawyer files N10bn suit against NCC, MTN, others
Continues online
L-R: Non-Executive Director, Nigerian Exchange Group, Mr. Nonso Okpala; President/GCEO, Transnational Corporation(Transcorp) Plc, Dr. Owen Omogiafo; acting CEO, Nigerian Exchange Group, Jude Chiemeka; Managing Director/CEO, Transcorp Power Plc, Engr. Peter Ikenga; Group Chairman, Transcorp Plc, Mr. Tony Elumelu; Chairman, Nigerian Exchange Group, Dr. Umaru Kwairanga; Non-Executive Director, Transcorp Power Plc, Peter Hertog; Chairman, Transcorp Power Plc, Mr. Emmanuel Nnorom; Chief Financial Officer, Transcorp Plc, Evans Okpogoro; and Non-Executive Director, Transcorp Power Plc, Risqua Muhammed, during the Facts Behind the Listing and Closing Gong Ceremony of Transcorp Power Plc to commemorate the Listing by Introduction of 7,500,000,000 Ordinary Shares of 50 kobo each at N240.00 per share on Nigerian Exchange Limited in Lagos... yesterday

Art for ProStAtE CANCEr AwArENESS...

House Seeks Arrest of Binance Executives

Group says arrest of company’s executives signals Nigeria's intolerance with financial misconduct Urges Tinubu to intensify fight against corruption

Kingsley Nwezeh and Adedayo Akinwale in Abuja

The House of Representatives has threatened to invoke its constitutional powers against Binance Holdings Limited following the failure of its executives to appear at its public hearing to respond to a series of allegations against the company.

The House Committee on Financial Crimes had summoned the Managing Director of Binance, Richard Teng, in a letter dated 12th December, 2023, signed by its chairman, Hon. Ginger Onwusibe, requesting appearance at the hearing.

Rather than the management team of the company to appear before the Committee, a team of lawyers was sent instead.

However, the Committee told lawyers that their representations would not be accepted.

Checks revealed that Binance Holdings Limited, operators of Digital Assets Exchange in Nigeria had been operating in Nigeria for over six years allegedly without any adherence to financial regulatory frameworks and has been accused of exploiting Nigerians and committing other financial crimes.

A coalition of civil society organisations led by the Niger Delta Youth Council Worldwide and the Empowerment for Unemployed Youths against Binance Holdings Limited had petitioned the Committee to scrutinise the firm’s activities.

Onwusibe, while speaking at the public hearing yesterday, in Abuja, lamented that Teng, refused to appear

before the committee after a series of invitations.

He stated: “The committee will be forced to recommend to the House to arrest Binance executives since they have failed to appear before the committee. “Binance is not here. We have taken a position on it in our last sitting that we are not going to entertain legal representation from Binance and that position stands.

Based on the fact that Binance is not here.

"We need to make a recommendation to the House of Representatives for the House to invoke its powers of subpoena to issue a warrant for the leadership of Binance to be arrested and be brought to this Committee to answer questions of the grave allegations leveled against them in the petitions brought to us by the Empowerment for Unemployed Youths and Niger Delta youths Council.

“This Committee has resolved to recommend to the House to invoke its constitutional powers by issuing a subpoena and a warrant for Binance executives to be arrested and brought to this Committee to answer these questions relationship financing of terrorism, money laundering and other financial crimes as stated in the petition including evasion of tax."

The committee commended the petitioners for unearthing this grievous financial crimes going on in the country for more than six years now.

Onwusibe added: "Binance has been operating in the financial space

of this country for more than six years and they have nothing less than 20 million Nigerians that they are exploiting.”

In its response, the legal team of Binance led by Senator Ihenyen said Binance executives did not appear before the committee because two other executives who were to appear at the meeting were arrested upon their arrival in Nigeria by the office of the National Security Adviser.

According to him, following the arrest of the two executives, other persons could not come into Nigeria.

"Binance has responded appropriately to the demands of the committee and as our client we are pleading that this honorable committee consider taking the report,"

he added.

Meanwhile, a Northern group, Arewa Think Tank, yesterday, said the arrest of Binance executives by the Office of the National Security Adviser (ONSA) signaled Nigeria's intolerance to financial misconduct. It alleged that Binance, dealers in crypto currency, allegedly aided the funding of terrorism, money laundering, tax evasion, currency speculation and other organised crimes over the years in Nigeria. It noted that Binance was involved in crypto currency business with alleged staggering $26 billion in transactions from unidentified sources, amounting to financial misconduct that is threatening national security and unity.

A statement issued by the Chief Convener of Arewa Think Tank, Muhammad Yakubu, noted that the move by government showed that the National Security Adviser, Mallam Nuhu Ribadu was prepared to fight terrorism and corruption to a standstill in the country.

"We want to commend the bold move by Mallam Nuhu Ribadu to detain them and demand data to uncover the truth behind the staggering $26 billion in transactions from unidentified sources.

"This has sent a strong message to the crypto currency world; Nigeria will not tolerate any financial misconduct that threatens its national security and unity", it said.

"Let's not forget that Binance

has a history of legal troubles, with countries like Canada, Netherlands, Malaysia, and the UK taking action against the platform. The U.S. even imposed a $4.3 billion fine, of which $1.8 billion was a criminal fine.

"The Nigerian government's swift and decisive action in this situation is a breath of fresh air, especially when compared to the negligence of the previous administration. It's time for the world to take notice and follow Nigeria's lead in standing up to financial misconduct", it said.

The Arewa Think Tank said it would back President Bola Ahmed Tinubu for the second term in office by 2027 general elections.

Continues online

Musa: Nigerians Facing Hardship Due to Non-application of Subsidy Proceeds by Previous Governments

Reps member disburses over N10m to women, youths in Kano

Laleye Dipo in Minna and Ahmad Sorondinki in Kano

The Senator Representing Niger East Senatorial Zone in the National Assembly, Mohammed Musa yesterday said that non-application of proceeds from removal of subsidy by previous governments in the country was partly responsible for the hardship Nigerians are presently facing.

Musa also blamed some highly placed Nigerians for manipulating the

exchange rates of the Naira to foreign currencies to become overnight billionaires, thereby causing hardship to many of Nigerians.

The Senate Chairman of the Committee on Finance made the remarks in Suleja town, Niger state at the weekend while distributing cash and food items to 4,100 members of his constituency in the nine local government areas of Niger state.

"The present hardship in the country is also informed by the

WED: NSE, NCDMB Announce Partnership to Train 6,000 Youths on Ethical Hacking, Cyber Security

Emmanuel Addeh in Abuja

The Nigerian Society of Engineers (NSE) yesterday announced a partnership with the Nigerian Content Development Monitoring Board (NCDMB) to carry out the training of 6,000 young people across Nigeria on ethical hacking and cyber security.

Speaking at this year’s World Engineering Day (WED) in Abuja, first female President of the NSE in 66 years, Margaret Oguntala, noted that all the six geo-political zones in the country will benefit from the gesture.

She added that the specialised skills acquisition programme, will

kick off with about 100 young people from each zone of the country, whether they are already engineers or engineers-to-be.

“The World Engineering Day platform has offered a unique opportunity for us to provide inspiration and hope for younger persons, whether they are already in the profession or aspiring to become engineers.

“Therefore, not only do we have students from secondary schools who are here to exhibit their innovations, we are also launching our specialised skills training for young engineers. The NSE will be running the programme with one of our strategic partners, the

NCDMB.

“It is a year-long programme targeted at building the capacity of young engineers across the six geo-political zones of Nigeria. It is also a multi-modular training that is going to start with a course on cyber security and ethical hacking,” he said.

While performing a symbolic unveiling of the programme, Oguntala stated that March 4, every year was declared as the world engineering day for sustainable development, beginning from the year 2020.

She stated that engineering excellence has changed the world dramatically overtime, explaining

that while mankind has witnessed great wars, it has also seen advancements in medical facilities and several innovations.

Over the years, she said the NSE has witnessed tremendous growth resulting in the establishment of 81 branches spread across Nigeria and in the diaspora and 25 divisions established majorly along specialised fields of engineering.

Themed: “Engineering Solutions for a Sustainable World”, Oguntala said that in the face of the current global economic, social and humanitarian crises, the world is yet beckoning on engineers to rise to the occasion and provide solutions for better and sustainable living.

inability of past administrations to put on ground democratic foundations that would address the yearnings of Nigerians" Musa added.

He assured that President Bola Tinubu is leaving no stone unturned to bring a lasting solution to the challenges being faced by Nigerians.

Musa declared that the present All Progressives Congress (APC) government is determined to correct the situation and make the people to enjoy the rewards of subsidy removal and a stable exchange rate of the Naira against other currencies and also bolster the national economy.

He also assured that the National Assembly and the executive arm of government are working seriously on more ways to reduce the sufferings of the people.

Musa therefore pleaded with Nigerians to exercise more patience and support the government saying that "very soon these pains will go away"

"The governments at all levels have put in place policies and programmes to cushion the effects of these hardship on the ordinary Nigerian. Very soon Nigerians will start reaping the rewards of these policies and programmes" he asserted. He said it was in a bid to reduce the hardship among members of his constituents that he introduced the empowerment programme.

"I will continue to attract empowerment programmes to complement those of the state and

federal government,” he explained, adding that very soon he will release scholarships to selected students in his constituency.

Speaking at the event, the Special Adviser, Political Matters and Strategy to Governor Mohammed Bago, Nma Kolo appreciated the gesture of the lawmaker ,saying that he had shown that he’s a true representative of the people.

Kolo solicited the support and cooperation of the people to both the federal and state governments especially for their agricultural revolution policies.

Each of the 4,100 indigent persons made up of men, women and the physically challenged selected from the nine local government areas in the constituency received N50,000 cash and some food items.

Meanwhile, as part of measures to alleviate the suffering of Nigerians, a federal lawmaker representing Fagge Federal Constituency in Kano State, Mohammed Shehu, has disbursed over N10 million to women and youths in his constituency.

Presenting the money at a ceremony that took place at the Fagge Model Primary School, Kano, Shehu said the beneficiaries were chosen from Rijiyar Lemo and Fagge C wards.

According to him, the gesture was meant for them to embark on small-scale businesses aimed at cushioning the economic hardship bedevilling the nation.

NEWS THISDAY • TUESDAY, MARCH 05, 2024 9
L-R: Medical Affairs Manager, Johnson and Johnson Innovative Medicine,Mr. Chibuike Uzor; Market Access Manager,Mr. Femi Ogunwede; Government Affairs and Policy Director, Mr. Ikechukwu Ofuani; Founder/CEO, Medicaid Cancer Foundation, Dr Zainab Shinkafi Bagudu; Country Manager Nigeria and Ghana, , Johnson and Johnson Innovative Medicine, Nkechi Ukaiwe; Product Manager Oncology, Margaret Mendie-Sawyer; Key Account Manager, Neuroscience,Mr. Oluwakorede Ayo; and Key Account Manager, Oncology,Mr. Faeren Philip, during the Art for Prostate Cancer Awareness in Abuja ... recently
TUESDAY MARCH 5, 2024 • THISDAY 10
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As N’Assembly Adopts New Strategy for Constitution Review...

With the stage already set for the review of the 1999 Constitution

chambers of the National assembly, it is certain that the exercise would not be business as

experience in the polity, reports Sunday Aborisade

The 10th National Assembly already have in place two Ad-hoc Constitution Review Committees. The one in the Red Chamber is headed by the Deputy President of the Senate, Senator Jibrin Barau while the Deputy Speaker of the House of Representatives, Hon Benjamin Kalu is leading the panel in the Green Chamber.

Both chambers have inaugurated their panels and they had held their inaugural sitting with the Senate taking the lead, penultimate week while the Representatives held their own last Thursday.

Based on the disclosure by the Chairman of the House of Representatives Panel, the first draft report would be ready in August this year while the final clean copy report would be ready for the Presidential assent in August, 2025.

At the inaugural sitting of the Senate panel, Barau reeled out the issues of concern which Nigerians would want the nation’s parliament to address through the amendment to the constitution. He also opened the floor for the representatives from each geo-political zone, to speak on the challenges confronting their various regions.

The Deputy Senate President stressed the need for all the lawmakers to be involved in the exercise by getting the views of their constituents so that the 10th National Assembly could succeed in its current assignment by making the review seamless, avoid past mistakes and ensure peace, order and good governance.

He expressed delight that the panel was blessed with eminent legislators per excellence who have served the Nigerian legislature for decades.

According to him: “We are fortunate to have in the committee, two former presiding officers, one from the Senate and one from the House of Representatives and experienced former governors who are here.”

He was obviously referring to the President of the Ninth Senate, Senator Ahmad Lawan and the former Speaker of the House of Representatives, Senator Aminu Tambuwal.

Barau said the committee was going to be different from others. He nevertheless, acknowledged that the earlier ones had done their best and were composed of eminent persons.

According to him, the current panel under his leadership, was different hence, it did not attach any ceremony to the inaugural meeting.

He said, “We need to hit the ground running, there is no room for any ceremony, it is pure business and we’re moving straight away to start the entire thing with all the vigour and seriousness that the constitutional amendment deserves.

“So that’s why we said no ceremony as usual and those who wanted a contract for the opening ceremony were told no that, we’re not giving contract for any ceremony.”

He noted that the nomination of senators to

the panel was a product of their ranking as legislators generally, their inmense contributions to their various political zones, and special interest groups.

He expressed the hope that their wealth of experience and knowledge of Nigeria would be brought to bear in the work of the Committee.

Barau reminded his colleagues that the adhoc committee would work in synergy with its counterparts in the House of Representatives, and be very strategic in the conduct of its affairs.

According to him: “We will be guided by the laws and rules of legislative business, including precedence where it does not conflict with any known rule, while also being innovative where we can.

“The Committee will strongly consult and engage critical stakeholders in a way that will ensure that bills passed by the National Assembly will be approved by the State Houses of Assembly and assented to by Mr. President.

“The secretariat will submit a work plan and a process map with time-lines to the Steering Committee which will be presented for consideration and approval by members in the next meeting.

“It is important to note that the Committee is not constituted to rewrite the 1999 Constitution but to process proposed amendments to it, and we

will strive to conclude this assignment within the next 24 months.

“I enjoin us to be committed to the activities of the Committee because the task ahead is huge as some of the issues already canvassed by some critical stakeholders are quite delicate,” Barau stated.

The Senators who also spoke on behalf of their geopolitical zones pointed out the need for the exercise to address the issue of resource control, State/community policing and the deplorable state of infrastructure, among others.

Speaking on behalf of the South South geopolitical zone, Senator Seriake Dickson, harped on devolution of power.

The former governor of Bayelsa State said, “In the Ninth Assembly, we did a lot, particularly in the areas of devolution and federalism and I believe in this 10th Assembly, under your able leadership and our full support, we can still do a lot more to address the areas that were left out.”

In his contribution on behalf of the South East geopolitical zone, Senator Enyinnaya Abaribe, wanted his colleagues to be conscious of the time fact and the need to put different ideas in separate bills instrad of pumping them together.

He said, “When we started with constitutional amendments, we used to put everything in one bill, and we found that anytime any President doesn’t assent, the whole thing is thrown away. Now, we have to break them into bits, and that was why in the last constitutional amendment, some were assented to and some were not.

“I think that we should still maintain that

The recent inauguration of the Constitution Review Ad-hoc Committees in both the Senate and House of Representatives by their presiding officers, Messrs Godswill Akpabio and Tajudeen Abbas, have generated interest among Nigerians who are desirous of a nation that is truly a federation. Many are of the opinion that the unitary structure of the country, foisted on the citizens by the military would continue to threaten peaceful co-existence and economic prosperity if certain features are not holistically addressed through a comprehensive review. As fate would have it, the 2014 report of the well attended national conference and the Oronsaye Report had provided a veritable document that could serve as a working manual for the Senator Jibrin Barau and Hon. Benjamin Kalu-led panels in the nation’s apex legislative institution.

so that we don’t have a President who decides that he will not assent because he doesn’t like one aspect and then we lose all the work that is done.”

Senator Mohammed Sani Musa, who spoke on behalf of the North Central region, urged the lawmakers to leverage on their experiences in previous assemblies, in order to do a rewarding job.

He said, “I believe that we have learnt something in the last dispensation in the Ninth Assembly, but I believe that there is something more that we can do because the way we did the last one, we can see that out of almost all the bills, it was not up to half that was assented to.”

Former Deputy Senate Leader, Senator Abdul Ningi, while speaking on behalf of the North East geo-political zone stressed the need to engage the people in order to create synergy.

His words, “We need to create such synergy and understanding so that most Nigerians who will be able to say a word on this aspect will have an opportunity.”

A former governor of Kebbi State who had also served as the Minister of the Federal Capital Territory, Adamu Aliero, spoke on behalf of the North West geopolitical zone.

He admonished the Committee to steer clear of controversial and divisive issues in carrying out the present exercise.

Aliero said, “This committee is well constituted. Let me advise that we should try as much as possible to avoid going into controversial areas where we can hardly get a consensus. There is no need to waste so much energy and time debating on issues that we can hardly compromise. We should know that constitutional amendment is beyond the National Assembly. Apart from what we do in the Senate and the House of Representatives, we have to carry the state legislature along.

Senator Kamorudeen Olarere spoke on behalf of the South West and urged the committee to build bridges rather that work in isolation.

He said, “I want to suggest that right from the starting point now, this committee should not act in isolation. Let us carry along the executive, the President, who is going to assent, even as we move on in the preparation of the amendments so that there won’t be factors to begin to argue with at the end of the process.

“As we move on, let us also interface with our State Houses of Assembly over what we are doing so that it will not be strange to them and also have some feedback from them that will help us in the process so that the whole effort here will not be a waste. Our governors are also critical and we need to involve them in the process.”

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY ) THISDAY • TUES DaY M a RCH 5, 2024 NOTE: Interested readers should continue in the online edition on www.thisdaylive.com 15
politics
of the Federal Republic of Nigeria by both
usual going by the recent
Akpabio Barau Abass Kalu
TUESDAY MARCH 5, 2024 • THISDAY 16 TUESDAY MARCH 5, 2024 • THISDAY 17
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TUESDAY MARCH 5, 2024 • THISDAY 20

Towards Resolving the Osun Judiciary Imbroglio

LAWYER
& REASON A weekly pullout TUeSday, M a RCH 5, 2024
TRUTH
OSUN STaTe CHIeF JUdGe, HON. JUSTICe OyebOla adepele OJO OSUN STaTe GOVeRNOR, SeNaTOR adeMOla adeleKe OSUN JUSUN CHaIRMaN, GbeNGa elUdIRe

Towards Resolving the Osun Judiciary Imbroglio

Quotable

‘I agree, smugglers will fight back, corruption will fight back. But, we will fight them to ruin….I assure you that Nigeria will be out of economic problems, we just need to persevere….The Labour Union should understand that no matter how much we cling to our freedom and rights, to call first rights within nine months of an administration, is unacceptable….You are not the only voice of Nigerians.’ -

GCFR, President, Federal Republic of Nigeria

PROF MIKE OZEKHOME, CON, SAN, FCIArb, PH.D. LLD

Constitutional Democracy, means a system of government, in which political and governmental power, is defined, limited and shared by a grundnorm called the Constitution, which provides inbuilt checks and balances. This column seeks to fiercely discuss constitutional, legal and political issues, with a view to strengthening, deepening and widening the plenitude and amplitude of democracy and good governance, without fear or favour.

The writer of this column, Prof Mike Ozekhome, SAN, is a Constitutional Lawyer, Human Rights Activist, Pro-Democracy Campaigner, Notary Public and Motivational Speaker. He co-founded the Civil Liberties Organisation (CLO), Nigeria’s pioneer human rights league, on October 15, 1987, the Universal defenders of Democracy (UDD), in 1992, and with Chief Gani Fawehinmi and others in 1998, the Joint Action Committee of Nigeria (JACON), to push out the military. In his early days, he lectured at the University of Ife. Prof Ozekhome is an author of many books. He is also a Special Counsel at the International Criminal Court (ICC), at The Hague.

President and CEO of TAG Alliances Visits Nigeria

In th I s ed I t I on II TueSday, M a RCH 5, 2024 • THISDAY onIkepo braIthwaIte: edItor, jude IgbanoI: deputy edItor, peter taIwo, steve aya: reporters
Judgement’s Brevity is Sufficient Ground to Vitiate It Page IV
lawyer Whether
LAWYER TRUTH & REASON A weekly pullout TUeSday, MaRCH 5, 2024
OSUN STaTe CHIeF JUdGe HON. JUSTICe OyebOla adepele OJO OSUN STaTe GOVeRNOR, SeNaTOR adeMOla adeleKe OSUN JUSUN CHaIRMaN GbeNGa elUdIRe
Page V
NBA-SLP Highlights its Activities at Jos NEC Meeting
Page V
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Workshop on Emerging Trends in Admissibility of Documents, Electronically Generated Evidence
columnIst

The West and Double Standards

Congratulations Lagos State Government

Before I go into the word for today, I must congratulate the Lagos State Government (LSG) on the inauguration of its Red Rail Line in addition to the Blue one. Coupled with the water transportation system and a hopefully better road transportation network, it shows that Lagos State‘s transportation policy, the Metroline aspect, conceived during the tenure of Alhaji Lateef Jakande in the 1980s, is geared towards some sort of intermodal system, to the extent that they are trying to achieve different modes of transportation from one point to another. So, a passenger who lives in the Mile 2 area and works on Awolowo Road, Ikoyi has the option of making the journey by road, or can travel on the Blue Line from Mile 2 to Marina, take the ferry from Marina to Falomo, and either take a minibus or walk to Awolowo Road, depending on how far down the work place is. This will definitely ease road traffic, as well as reduce the wear and tear on our roads. Kudos LSG! We want to see more of these type of policies that are beneficial to the people, especially if they implemented at a reasonable cost and are affordable and reliable for the users.

President Donald Trump’s Issues I was reading a forward on social media, concerning some of former President Donald Trump’s wrongdoings, like inflating his net worth by about $2 billion to enable him secure benignant credit facilities (loans) et al, and of course, the unforgettable, unprecedented issue of him trying to overturn the 2020 election, particularly the January 6, 2021 ‘coup’ attempt at Capitol Hill, following his loss of the election.

The US Supreme Court will, in April, hear arguments in respect of Donald Trump’s Presidential immunity from criminal prosecution claim, for charges bordering on his plot to overturn the 2020 election. While the American Constitution does not confer immunity from indictment or criminal prosecution on a sitting US President, the Department of Justice (DOJ) which controls all Federal Prosecutors, confers some temporary immunity on a President while in office. See the case of Richard Nixon v A. Ernest Fitzgerald 457 U.S.731 (1982) which only held that the American President is entitled to absolute immunity from liability for damages based on his official acts.

The 1973 (Nixon) & 2000 (Clinton) Memoranda of the DOJ are pertinent here; in both OLC (Office of the Legal Counsel) Memoranda, the DOJ concluded that all Federal Civil Officers except the US President, are subject to indictment and criminal prosecution during their tenure in office. While some argue that the OLCs were designed to somehow protect Presidents Nixon and Clinton when they got into trouble, the DOJ was of the view that such indictment or criminal prosecution would not allow the Executive to concentrate on constitutional functions. This DOJ’s view happened to be echoed here in Nigeria, in the decision in Hassan v Aliyu & Ors (2010) LPELR-1357(SC) per Olufunlola Oyelola Adekeye, JSC in examining the purpose of Section 308 of the 1999 Constitution of the Federal Republic of Nigeria (as amended in 2023)(the Constitution) which, on the contrary, grants immunity from civil and criminal proceedings to the President, Vice President, Governor and Deputy Governor. See the cases of Global Excellence Communications Ltd & Ors v Duke (2007) LPELR-1323(SC) per Walter Samuel Nkanu Onnoghen, JSC (later CJN) & Tinubu v IMB Securities Plc (2001) LPELR-3248(SC) per Adolphus Godwin Karibi-Whyte, JSC. In Rt. Hon. Rotimi Chibuike Amaechi v INEC & Ors (2008) LPELR-446(SC) per George Adesola Oguntade, JSC, the Apex Court

onikepo braithwaite

onikepo.braithwaite@thisdaylive. com onikepob@yahoo.com

The Advocate

“What makes Donald Trump different from the soldiers in West Africa who have overthrown their civilian governments in the last few years, with his own January 6, 2021 Capitol Hill fiasco in which five people died?…. Is… Benjamin Netanyahu not facing corruption charges?… If an African Leader did a fraction of what Benjamin Netanyahu has done in these attacks on Gaza, he would be tried for war crimes/crimes against humanity/genocide.….”

went further to state that Section 308 of the Constitution is designed to protect the dignity of the office.

Unlike Nigeria, it appears that the unique immunity that is granted to the US President while in office, does not extend to the Vice President and Governors. In fact, here in Nigeria, immunity from criminal prosecution seems to extend to the President beyond his tenure in office, because while some Governors have faced prosecution and been jailed following their departure from office, no former President has ever been held accountable for anything after leaving office. It seems that, this is the kind of break that President Trump and his Lawyers may be hoping for!

Unfortunately, even if an American President had immunity from criminal prosecution for official acts, obviously the inflation of one’s net worth to secure personal loans long before he assumed the US Presidency, can certainly not be categorised as an official act of a President.

I align myself with the unanimous decision of the US Court of Appeal of the District of Columbia, that Donald Trump can face criminal prosecution for his conduct following the 2020 election. His "Incitement of Insurrection" with his speech of January 6, 2021 which urged his supporters to "fight like hell" against the election, which he falsely claimed

was unsuccessful? Is the Prime Minister of Israel, Benjamin Netanyahu not facing corruption charges?

I saw on the news that Ghana’s Legislature recently passed its anti-LGBT Human Sexual Rights and Family Values Bill, and it is now waiting for President Akufo-Addo’s assent. While in Ghana, the Criminal Code 1960 criminalised ‘unnatural carnal knowledge’, providing for a punishment of 3 years imprisonment upon conviction for men that engaged in same sex activities, in Nigeria, “having carnal knowledge against the order of nature” has always been an offence under the CCA, punishable with 14 years imprisonment. See for example, Section 214 & 217 of the CCA. The Nigerian Legislature then went further by enacting the Same Sex Marriage (Prohibition) Act 2013 (SSMPA). Merely identifying as LGBT is now an offence in Ghana, and the punishment under the new law has been increased to 5 years imprisonment upon conviction.

and communicated to them had been stolen from them, again, can definitely also not be categorised as an official act. See Section 41 of the Criminal Code Act 1990 (CCA) on treasonable felony, which carries a punishment of life imprisonment upon conviction. I certainly don’t buy the argument that Donald Trump’s aforementioned actions, can be referred to as official acts which can enjoy criminal immunity after office; and I believe that now that he is out of office, he can be criminally prosecuted.

Hypocrisy & Double Standards

What I however find hypocritical, is how developed countries, many a time, adopt a condescending posture against African nations, ranging from regularly finding fault in our leaders when their leaders may not be any better, to nursing veiled criticisms of some of our ways and culture. What makes Donald Trump any different from some of our corrupt African leaders, with the lies he’s alleged to have told about his finances, in order to gain advantages? What makes Donald Trump different from the soldiers in West Africa who have overthrown their civilian governments in the last few years, with his own January 6, 2021 Capitol Hill fiasco in which five people died? Only that his attempt

The international community and human rights groups like Amnesty International, have decried these recent African laws as being a violation of fundamental human rights, like that of freedom of thought and association. See Sections 38(1) & 40 of the Constitution. Countries like USA have also attempted to use ‘neo colonialist’ tactics to force African States to accept same sex relationships, by making the acceptance of them one of the conditionalities attached to giving funds.

It is however surprising, that these same international communities and human rights activists do not think it is a violation of the human rights of a man who desires to have multiple wives, to not permit polygamous marriages in their countries. Polygamy, and not same sex relationships, have always been part and parcel of the African culture, even though one cannot deny the existence of same sex relationships in Africa. In the UK, for instance, the ‘Nikah’ (Islamic Marriage) is not recognised as a legal marriage, and couples are seen as cohabiting unless their Nikah is registered as a civil marriage; only one civil marriage can be registered at a time.

Conclusion

My point? Should foreign countries be able to leave their countries to come and impose their cultures on us in our countries, while they do not accept ours? Should western countries be allowed to judge us harshly and denounce us, while they do the same things as us? Is this not a double standard?

The West African military coup plotters have been roundly condemned by the international community for truncating democracy in their countries, yet, Donald Trump who attempted a similar thing is the front runner of the Republican Party in the upcoming Presidential election! Have we forgotten former US President George W. Bush who invaded Iraq in 2003, based on inaccurate/false information that Iraq had weapons of mass destruction, despite the fact that the UN Inspectors had found nothing like that there? Bush and his administration, suffered absolutely no consequences for their actions, though the deaths in that war may surpass the number of deaths that occurred during the rule of Liberian Dictator Charles Taylor, who is presently serving a 50 year sentence at HM Prison Frankland, UK. While the October 7, 2023 Hamas attack on Israel, killing 1,200 Israelis is condemnable, the Israeli retaliation of killing possibly over 30,000 Palestinians and counting, is even more condemnable. It is worse than killing an ant with a sledgehammer. If an African Leader did a fraction of what Benjamin Netanyahu has done in these attacks on Gaza, he would be tried for war crimes/ crimes against humanity/genocide, found guilty and probably jailed for life! Surely, should what is good for the goose, not also be good for the gander?

III THISDAY • TueSday, M a RCH 5, 2024 The advocaT e
Israeli Prime Minister, Benjamin Netanyahu Former US President, donald Trump

Whether Judgement’s Brevity is Sufficient Ground to Vitiate It

Facts

The Appellant was an employee of the Respondent until 10th May, 2005, when he was dismissed. The events leading to his dismissal arose on 29th July, 2004, when he was issued a query containing allegations that on 6th July, 2004, he absented himself from duty without obtaining leave and travelled to Abuja to transact unofficial business on behalf of another organisation and customer of the Respondent named “STOP-HERE Aviation Services Ltd”, for purposes unconnected with the furtherance of the interest of the Respondent. The query stated that the Appellant’s actions, were in contravention of the Respondent’s Staff Conditions of Service and Public Service Rules. The Respondent responded to the query; however, his response was deemed unsatisfactory and by a letter dated 17th August, 2004, he was suspended from work without pay and ordered to appear before the Respondent’s Disciplinary Committee. After the Appellant appeared before the Disciplinary Committee, he was found culpable of the acts of misconduct alleged, and consequently, dismissed from the service of the Respondent.

Thereafter, the Appellant instituted an action against the Respondent at the Federal High Court, Lagos Division, for wrongful termination of his employment. The case of the Appellant was that, by virtue of the Respondent’s Employee Handbook, he was entitled to three written warnings before disciplinary action could be taken against him, but, he was not issued with any such written warning. On its part, the Respondent maintained that it followed due process in dismissing the Appellant. At the conclusion of trial, the trial court delivered its judgement, in which it held that the Appellant was afforded fair hearing by the Respondent before his dismissal. The trial court thus, dismissed the suit.

Aggrieved, the Appellant appealed to the Court of Appeal. In its judgement, although the Court of Appeal held that the trial court could have done better with its evaluation of the evidence led at trial, it however found that the trial court pronounced on the main issue as to whether the Appellant’s dismissal was in accordance with the Respondent’s Conditions of Service and the trial court’s decision did not occasion any miscarriage of justice on the Appellant. Dissatisfied, the Appellant appealed to the Supreme Court.

Issues for Determination

The Supreme Court considered the following issues in its determination of the appeal:

1. Whether the holding of the learned Justices of the Court of Appeal that, in spite of the brevity of the judgement of the trial court, the trial court considered what was relevant for judgement, it did not occasion a miscarriage of justice in view of the non-evaluation of evidence adduced before the trial court.

2. Whether the Court of Appeal was right, in holding that that the Respondent followed due process in the dismissal of the Appellant.

Arguments

Arguing the 1st issue, counsel for the Appellant submitted that it is the function of a trial court to receive admissible evidence, evaluate it, ascribe probative value to it, make findings thereon and come to a conclusion one way or another, otherwise a miscarriage of justice would have been occasioned and an appellate court would have a duty to intervene. He argued that by the combined effect of Section 3.4.1(c) and 3.4.5(iii) of the Respondent’s Staff Conditions of Service, action could only be taken against the Appellant if he absented himself for a week and after three written warnings had been issued to him; however, no such written warning was issued to him. He argued that the Appellant relied on the Respondent’s Staff Conditions of Service to prove his case, yet, the trial court did not make any pronouncement on the said exhibit.

In the Supreme Court of Nigeria Holden at abuja

On Friday, the 15th day of december, 2023

Before their lordships

John Inyang Okoro

Helen Moronkeji Ogunwumiju adamu Jauro Tijjani abubakar emmanuel akomaye agim

SC.158/2013

Between

MR SuLe OBaJe aPPeLLaNT And

NIGeRIaN aIRSPaCe MaNaGeMeNT aGeNCy ReSPONdeNTS

(Lead Judgement delivered by Honourable Adamu Jauro, JSC)

He submitted that the trial court did not evaluate any of the evidence presented before it, and due to the trial court’s failure to evaluate evidence, it cannot be said that justice was done. It was the further submission of counsel that the statement of the Court of Appeal to the effect that the trial court ought to have undertaken a little more evaluation of the evidence adduced established that the trial court did not properly evaluate the evidence before it. He therefore submitted that the Court of Appeal was in error when it nevertheless, held that the trial court considered what was relevant in the case before it.

Conversely, counsel for the Respondent submitted that the comment of the lower court on the brevity of the judgement of the lower court did not fault the reasoning behind the judgement, as the court merely meant that the trial court ought to have given a more extensive reason for its decision. He submitted that in spite of the brevity of the trial court’s judgement, the trial court duly considered the relevant question as to whether the Respondent

“….the manner of writing judgements cannot be made universal to Judges, and the most important requirement is for the judgement to incorporate the known elements of a good judgement. Therefore, the judgement of a court cannot be vitiated simply because of the Judge’s style of writing”

Court reiterated the time-long principle that the court has a duty to consider and evaluate all material facts and issues placed before it during trial, and where material issues and facts relating to a case are not evaluated at all or adequately evaluated, it may lead to a miscarriage of justice. The Court held however that, where the omission or failure complained of, is with respect to matters not affecting the determination of the case, no miscarriage of justice would have occurred. The Court held that, the manner of writing judgements cannot be made universal to Judges, and the most important requirement is for the judgement to incorporate the known elements of a good judgement. Therefore, the judgement of a court cannot be vitiated simply because of the Judge’s style of writing. The Court relied on its decision in

NWOKORO & ORS. v ASHUE (2003)

LPELR – 59744 PP 10-11 PARAS F(SC)

in which it held that, every Judge has his personal style of judgement writing and therefore, there is no single standard and acceptable form of writing a judgement, so long as the judgement captures the essential ingredients of a good judgement and resolves the issue or issues for determination. Finally, the court held that though the judgement of the trial court was quite brief, it met the parameters of a valid judgement, in that it touched the essential parts needed to show that the Judge understood the claim of the parties such that even if the trial court had made pronouncement on every issue and argument canvassed by parties, the final judgement would not have been different from what it is now. In spite of the brevity of the judgement of the learned trial judge, the trial court considered what was relevant for the determination of the dispute between the parties in accordance with the evidence adduced before it, and the brevity of the judgement has not led to any miscarriage of justice.

complied with its Staff Conditions of Service in the dismissal of the Appellant.

On the 2nd issue, counsel for the Appellant submitted that the Respondent cannot argue that the dismissal of the Appellant was in accordance with due process, when the record of proceedings of the disciplinary committee and the Public Service Rules which he was alleged to have contravened were not put in evidence before the trial court by the Respondent. He argued that the Appellant was entitled to three written warnings before a disciplinary committee could take any disciplinary action against him, and since he did not receive any written warning before being suspended and subsequently dismissed, his dismissal did not follow due process and he ought to be reinstated.

Counsel for the Respondent, on the other hand, argued that the requirement of three written warnings within a year before disciplinary action is taken, insisted on by the Appellant, applies only in cases of minor misconduct. He argued that this was unlike the act of the Appellant which amounted to a breach of the Public Service Rules, and which was considered an act of gross misconduct that warranted disciplinary action without previous warning. He further argued that the nontendering of the record of proceedings of the disciplinary committee which heard the case of the Appellant and the Public Service Rules are irrelevant, so long as there was evidence to support the case of the Respondent and the judgements arrived at by the two lower courts.

Court’s Judgement and Rationale

In determining the 1st issue, the Apex

On the 2nd issue, the Court held that based on the principle that he who asserts must prove, it was the duty of the Appellant who asserted that his dismissal did not comply with due process, to demonstrate how the process leading up to his dismissal violated due process. If he was of the opinion that the disciplinary committee did breach any law, rule or procedure, he ought to have tendered the record of proceedings and likewise, if he was of the view that he did not breach the Public Service Rules as alleged, he ought to have tendered the Rules or caused it to be produced before the court. He cannot shift that duty to the opposing party. The Court held that having not placed the said documents before the court, he cannot complain about failure to tender documents which he failed to tender.

In resolving this issue, the Court reviewed the relevant provisions of the Respondent’s Staff Conditions of Service which contained the definition and types of misconduct, the penalties for erring officers and the procedure to be followed in imposing any of the penalties. The Court emphasised on the provisions in the Conditions of Service which prescribed that, in relation to serious misconduct, the erring employee would be issued a written query which must be answered within a specified period and which response would determine if such employee should be suspended, exonerated, warned or referred to the appropriate disciplinary committee. The Court held that the Appellant was duly issued with a query, afforded the opportunity to respond which was found to be unsatisfactory, before he was suspended in line with the provisions of Respondent’s Staff Conditions of Service. The Court also held that the Appellant’s dismissal after appearing before the disciplinary committee and being found guilty of misconduct, was also in line with the provisions of the said Conditions of Service.

Appeal Dismissed.

Representation Dr M. O. Ubani with Mr D. D. Asema and H. E. Okusuwha for the Appellant.

Ademola Oyedokun with Charles Uzoka for the Respondent.

Reported

IV TueSday, M a RCH 5, 2024 • THISDAY law report
Optimum Publishers Limited, Publishers of the Nigerian Monthly Law Report (NMLR)(An affiliate of Babalakin & Co.)
by
Honourable Adamu Jauro, JSC

Workshop on Emerging Trends in Admissibility of Documents, Electronically Generated Evidence

The world has since evolved from the stone age to a digital age, signposting a shift from the old ways and conservative method of doing things to a liberal and progressive approach.

In the past, it was a Heculean task, especially in the law profession, for Lawyers to tender electronic generated evidence before a court of competent jurisdiction, because Judges would not have any of that.

However, with the amendment of Section 84 of the Evidence Act, the likelihood of admissibility of electronically generated evidence has become a possibility. The way to go about this, came to the fore last Tuesday, when the Edo State Ministry of Justice in collaboration with the Forum Against Counterfeiting, organised a workshop on the ‘Relevance and Admissibility of Electronically Generated Evidence and Other Emerging Trends in the Admissibility of Documents for Legal Officers in the State Ministry of Justice’.

In his welcome remarks, expectations and objectives of the workshop, the Edo State Attorney-General and Commissioner for Justice, Oluwole Osaze-Uzzi, noted that the relevance of electronically generated documents has been an issue in the Nigeria judicial system, adding that there is no better time than now to look at the various issues involved.

He said the objective of the workshop was to enrich Lawyers working in the State, on how

to tender documents in the court through the computer and other electronic gadgets to enrich their knowledge on this and other relevant issues like fundamentals of legal research, judicial approach to admissibility of electronic evidence, the emerging principles, hence, the assembling of Judges (serving and retired) who have seen it all in the adjudication of matters relating thereof.

The workshop was divided into four sessions: the first dwelt on the ‘Critical Appraisal of the Relevance and Admissibility of Electronically Generated Evidence under the Evidence Act’, delivered by Hon. Justice Alaba Omolaye Ajileye, Phd (Rtd); the second session, on the ‘Judicial Approach to Admissibility of Electronic Evidence and Emerging Principles/Expert Weight’, by same Justice Ajileye. The two papers dwelt on three criteria for admissibility of electronically generated evidence namely; relevance of the document to your case, satisfying the provisions of the law, and facts that must be evidence pleaded.

The retired Judge gave a historical background of Electronic Evidence, which according to him, began in Nigeria in 1969 when the Supreme Court then posited that "the law must not be ignorant of modern times".

Ajileye, also mentioned different approaches to electronic evidence in a typical Nigerian court, since counsel will definitely meet two types of courts - the conservative and

President and CEO of TAG Alliances Visits Nigeria

A Lagos based commercial law firm, Gbenga Biobaku & Co, in conjunction Phillips Akindele & Co, last week played host to Mr Richard Attisha, President & CEO of TAG Alliances, and Mr. Paul Tauber, a member of the TAGLaw Advisory Board, at their offices in Lagos.

TAG Alliances is a leading multi-disciplinary alliance of independent professional services firms, covering over 110 countries including TAGLaw for law firms, TIAG for accounting firms, and TAG-SP for strategic partners.

A warm cocktail reception

was held at Pitstop restaurant in Victoria Island, Lagos, on February 15, 2024, attended by clients and friends of the Host Firms. Mr Richard Attisha and Mr Paul Tauber expressed their gratitude for the hospitality and highlighted the importance of collaboration between the firms in Nigeria and other countries within the TAG Alliances network, aiming to build stronger relationships and enhance client services. They also expressed excitement about future collaborations and meetings at TAG Alliances conferences.

the liberal/progressive minded. He further gave a synopsis of how the court has fared regarding the recognition of electronic evidence, some of the cases decided by the court, circumstances and exceptions.

The third session was a paper on ‘Judicial Approach to the Admissibility of Evidence and the Emerging Principles; Reconciling the Supreme Court's

decisions in Benjamin v Kalio and Abdullahi v Adetutu’, delivered by Hon. Justice Peter Akhime Akhihiero, a Judge of the Edo State High Court which talked about challenges and unresolved conflicting authorities of the Superior Court in item 23 of Exclusive Legislative list that has to do with land instruments.

Dr Anthony Idigbe, SAN, Senior Partner, Punuka Attorneys

and Solicitors, also delivered was a paper on ‘Fundamentals of Legal Research’. Idigbe who spoke virtually, talked on the importance of research as a means of facilitating a matter in court, gave a simple methodology or approach which he tagged: "TARP". T for the thing, subject-matter, A for the cause of Action, R for Relief sought in a matter, and P for

Persons or persons involved and their relationship.

The workshop also witnessed two panel discussions chaired by the Chief Judge of Edo State, Justice Daniel Okungbowa which featured discussants, Ogaga Ovrawa, SAN, former Attorney-General and Commissioner for Justice, Edo State, Dr Osagie Obayuwana among others.

Eko Atlantic City Dredging Suit: Court Reserves May 8 for Closing Arguments

The Federal High Court sitting in Lagos will, on May 8, 2024, listen to the closing arguments in a case seeking to declare as illegal the ongoing dredging and land reclamation operations of Dredging Environmental Marine and Engineer N.V. employed by Gilbert and Ronald Chagoury in the Kuramo Waters of Victoria Island. This area has been designated by the Chagoury brothers, under the Eko Atlantic Phases II-VI.

The Plaintiff in the suit, in addition to seeking damages for negligent dredging damage and devaluation to property, is also seeking a restoration of the Kuramo Waters to its original condition under the court’s supervision. The claims are based on the negligent dredging causing physical and economic damage to property, as well as damage

to the marine environment. The environmental part of the claim, is based on the paramount importance of the Kuramo Waters as a natural overflow and drain to-the Atlantic Ocean of Five Cowrie Creek and Victoria Island respectively, during the rainy season and when severe flooding occurs. The ongoing dredging operations are aimed at sealing up the Kuramo Waters, in a bid to create even more land for the Chagoury brothers’ Eko Atlantic project. The claim by the Plaintiff is that the consequences of these phases of land reclamation will eradicate the efficacy of the Kuramo Waters, a body of water without which Victoria Island will become subjected to heavy floods and gradually go under water.

Expert evidence from an internationally renowned Oceanographer based in

Washington have been adduced in the suit, to the effect that the Kuramo Waters has existed as a natural body of water serving Victoria Island as long as Lagos has existed. The consequences of the ongoing dredging which has been intensified by the Belgian dredger owners since June 2023 to date, is to destroy property values, investments and livelihoods of Nigerian nationals along the Kuramo waters shoreline and beyond, especially now, at a time of economic hardship in the country. The suit number is FHC/L/ CS/1329/2015, Mondinvest Limited v M.V. Breughel 2. Master of the M. V. Breughel 3. Dredging Environmental Marine Engineering N.V. (Belgium) and claims damages for negligent, unlawful and illegal dredging by the Defendants, a globally recognised dredger operator.

At the resumed sitting on

Tuesday, February 20, 2024, the Plaintiff’s counsel, Mr Olumide Aju, SAN, concluded his crossexamination of the defence Expert witness, Prof Lucian Chukwu. Upon the completion of the cross-examination, the presiding Judge, Honourable Justìce Daniel Emeka Osiagor then went on to reserve May 8, 2024, for the closing arguments. It will be remembered that Mondinvest Limited, the Plaintiff, has been in court for over 8 years with Defendants.

In earlier proceedings before Justice Jude Dagat of the Federal High Court, Lagos who was previously adjudicating the matter, Honourable Justìce Dagat in a judgement in March 2016, had refused an application for the suit’s dismissal filed by the dredger’s owners. He held that the Plaintiff, Mondinvest Limited, had a good cause of action against the dredger owners.

NBA-SLP Highlights its Activities at Jos NEC Meeting

The Nigerian Bar Association’s Section on Legal Practice (NBA-SLP) highlighted its major activities, at the just concluded NEC meeting of the Association in Jos. Its report presented by the Section’s Chair, Mrs Boma Alabi, SAN, said ‘SLP has embarked a series of trainings/webinars in the coming weeks of this quarter of 2024.

‘The Alternative Dispute Resolution Committee chaired by Mr Isaiah Bozimo, SAN, is scheduled to hold a free workshop on the 19th of February, 2024 at the Hon. Justice Umezulike Auditorium, Enugu State High Court, Aguleri Street, Independence Layout. The workshop will focus on “Actionable Strategies for Mediation After Court Refer-

rals”. This workshop aims to equip legal practitioners with practical skills & insights to address common challenges in mediation effectively. Speakers at the workshop are: Caroline Etuk (Director, Enugu State Multidoor Courthouse) and Achere Cole FCIArb (Ag. Director, Lagos State Multidoor Courthouse).

‘The Litigation Committee chaired by Mr Tonye Krukrubo, SAN will be organising a Seminar themed, “Legal Practice in Nigeria: Reinforcing Ethical Behaviour”. The seminar will be centred on addressing behaviours of legal practitioners in the legal profession, how to strengthen ethical guidelines and enforcement mechanisms, and most importantly, reinforcing ethical behaviours to international best

practices thereby providing solutions to these issues. The event is scheduled to hold in March 2024 (date, time and venue will be communicated to members soonest).

‘The Section is currently reviewing articles for the next publication, which will be released in the following weeks. Once released, it will be distributed on all electronic platforms, and made available to registered members of the Section. Members of the Bar are welcome to send in their contributions of not more than 1200 - 1800 words, and this should be forwarded to info@nbaslp.org. We encourage members of the Bar to read and take away something of value from the SLP Newsletter.

‘The SLP Law Journal, is an

annual publication of the Section. The Journal is an accredited professional and academic law journal. Volumes 4-9 of the Journal, are still available for purchase. The Section is grateful to colleagues at the Bar and in the Academia, for their continued support.’

SLP Monthly Healthcare Tips

‘The Committee on Medicine and the Law of the Section, has consistently been publishing its monthly Healthcare tip for members of the Bar. Since inception, five series have been published. We urge members to keep and maintain a healthy lifestyle.’

Boma Alabi, SAN invited members of the Bar to join NBA-SLP, to benefit from its series of activities lined up for 2024.

TueSday, M a RCH 5, 2024 • THISDAY V NEWS
L-R: Mrs Ebelechukwu Enedah; former Edo State Attorney-General and Commissioner for Justice, Dr Osagie Obayuwana; Justice Peter Akhihiero; Edo State CJ, Justice Daniel Okungbowa; Justice Alaba Omolaye Ajileye (Rtd) and Ogaga Ovrawa, SAN Chairperson, NBA-SLP, Mrs Boma Alabi, SAN L-R: Ijeoma Abalogu, Partner at Gbenga Biobaku & Co; Richard Attisha, President & CEO of Tag Alliances, Temitayo Dada, Trade Commisioner to the Deputy High Commission of Canada, Mr Gbenga Biobaku, Senior Partner, Gbenga Biobaku & Co; Mr Ugorji Nnanna, Director Prado Power and Mr Paul Tauber, Member of the Tag Law Advisory Board
VI 05.3.2024
05.3.2024 VII

Towards Resolving the Osun Judiciary Imbroglio

The Osun State Judiciary has been engulfed in a crisis for the past few months, occasioned by the interminable strike of the Judicial Staff union of Nigeria (JuSuN). The efforts of the Governor of Osun State, Senator ademola adeleke, to resolve the crisis appears not to have yielded much fruit, in this already seemingly intricate situation. Justice administration in the State is at a standstill, and the crippling effect of this is that all Osun State courts are under lock and key, and many are languishing in detention without trial. Ebun-Olu Adegboruwa, SAN, Lazarus Chinwokwu and Adesegun Talabi, delve into the complexities of these issues, as they try to proffer solutions

Introduction

Osun State is in a quandary at the moment, nearing a total paralysis of governance, if the anomaly is not arrested urgently. In law, there are three levels of governance in every State in Nigeria, the Legislature, the Executive and the Judiciary. All the three arms must work together. The Legislature enacted the law that created the offices of the three arms, specifying their respective duties and obligations. The executive formulates policies and programmes for the government and the people, while the Judiciary acts as

a check upon the exercise of the powers of State. Upon his election, the President is sworn in by the Chief Justice of Nigeria and upon his assumption of office, the President in turn proclaims the Legislature. The President appoints the Chief Justice and for the latter to properly assume office, his appointment has to be confirmed by the Senate and thereafter, he has to be sworn in by the President. What this simply means is that the three

“The courts must be opened, for the discharge of their constitutional functions. In this regard, I humbly urge the Governor to dialogue with the Judiciary staff, in order to open the courts”

organs of government work together even though they are independent.

The Indispensability of the Judiciary

By virtue of Section 6(1) of the Constitution of the Federal Republic of Nigeria 1999 as amended, “the judicial powers of the Federation shall be vested in the Courts to which this section relates, being Courts established for the Federation”. Section 6(2) established courts for the States. By virtue of Section 6(6)(b), “the judicial powers vested in accordance with the foregoing provisions of this section shall extend to all matters between persons, or between government or authority and to any persons in Nigeria, and to all actions and proceedings relating thereto, for the determination of any question as to the civil rights and obligations of that person”. In simple terms, the only body empowered to determine and adjudicate upon disputes, are the courts created by law. To extend judicial powers to cover all persons, government or authority means that in the eye of the Constitution, no one is above the law. The reason for this is to avoid a breakdown of law and order in the society, such that persons who are aggrieved over the actions or policies of others will have the opportunity of ventilating their grievances in a manner that follows due process of law. Even from the days of our forefathers,

society has never existed without a forum for the settlement of disputes. I have laboured to imagine how Governor Ademola Adeleke is currently governing Osun State without the Judiciary. The contemplation of the Constitution is that no State in Nigeria can, or should be governed effectively without the judicial arm in full operation. Even when the military took power through coup d’etat, the courts were left intact. Rarely, in the history of our nation, have we had to contend with a situation whereby the courts are locked up perpetually, aside from a few exceptions like Rivers State during the tenure of Governor Rotimi Amaechi.

Section 4(8) of the Constitution states thus:

“Save as otherwise provided by this Constitution, the exercise of legislative powers by the National Assembly or by a House of Assembly shall by subject to the jurisdiction of courts of law and of judicial tribunals established by law, and accordingly, the National Assembly or a House of Assembly shall not enact any law, that ousts or purports to oust the jurisdiction of a court of law or of a judicial tribunal established by law.”

What the framers of the Constitution are saying is that, there shall be no dictatorship of any kind in governance. Laws made by the Legislature must always be subject to the jurisdiction of the Court, so, too, the actions of the executive. This is not the case in Osun State presently, because of the strike action

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Towards Resolving the Osun Judiciary Imbroglio

embarked upon by judicial workers over the tenure of office of the Chief Judge of Osun State. If anyone is arrested in Osun State, he stands to remain in custody, whether such arrest is lawful or not. In the same vein, if land is acquired compulsorily or taken over by force, the victim has no remedy but to accept his fate, since the law forbids any resort to self-help. The executive arm of government in Osun State is running riot, ruling without the judicial arm. No government should be allowed to function without the courts, as that will only encourage lawlessness and dictatorship. The House of Assembly of Osun State cannot also exist without the judicial arm of government, as laws being enacted must be subject to the interpretation of the courts. But, the issues arising from the closure of all courts in Osun State go deeper than this.

Presently, no judicial officer can be appointed in the State, and Magistrates cannot be promoted. I have also wondered how the Governor was able to present the 2024 budget estimate to the House of Assembly for approval, without the input of the Judiciary of Osun State, the Chief Judge being the Chief Executive of that indispensable arm of government. In other words, can a State in Nigeria purport to have an Appropriation Bill that does not reflect the estimates of the Judiciary? Only the Governor can provide an answer to this query, but I pray that the House of Assembly of Osun State did not enact an Appropriation Law that excluded the Judiciary. If the Judiciary in Osun State will not be allowed to function for whatever reason, then the other two arms of government have no justification to continue to remain in office for the exercise of illegal actions. By the Public Officers Protection Law of Osun State for instance, certain actions can only be challenged within three months of their occurrence, otherwise the cause of action becomes statute barred. The strike action embarked upon by judicial workers has lasted well over three months now, thereby rendering certain actions of the government beyond judicial inquiry. This is unacceptable.

The Constitution contains an absolute prohibition against ousting the jurisdiction and powers of the Court in its Section 4(8) that “save as otherwise provided by this Constitution, the exercise of legislative powers by the National Assembly or by a House of Assembly shall be subject to the jurisdiction of courts of law and of judicial tribunals established by law, and accordingly, the National Assembly or a House of Assembly shall not enact any law, that ousts or purports to oust the jurisdiction of a court of law or of a tribunal established by law”.

The true interpretation of this provision, is that it is illegal for there to be a Governor or Speaker of the House of Assembly in any State where there is no Judiciary or where the Judiciary is not allowed the exercise of its statutory functions of interrogating the actions, laws and policies of the other arms of government. I do not see how Governor Adeleke can continue to remain in office and govern Osun State effectively and legally, without the courts of law established for the State by the Constitution. It is an aberration that must not be allowed to fester, because what is left is anarchy and lawlessness.

I have been told by some of my colleagues and comrades that there are genuine petitions pending before the National Judicial Council, highlighting certain acts of misconduct against the Chief Judge of Osun State. That may be the case and indeed, it is desirable that the actions of the Chief Judge and the Judiciary be brought under scrutiny. But, should that alone be the justification why cases cannot be filed in court, or why suspects should remain in custody indefinitely and without trial? Can the supposed grievances against the Chief Judge shut down the entire Judiciary of a State, and the Governor is content to remain in office

without check?

Conclusion

The options available to Osun State, are so very clear. The courts must be opened, for the discharge of their constitutional functions. In this regard, I humbly urge the Governor to dialogue with the Judiciary staff, in order to open the courts. It is a state of emergency, that warrants urgent actions from the State and those in charge of its affairs.

In the event of failure, inability or unwillingness by the Governor of Osun State to restore law and order in the State by opening the courts for the performance of their constitutional functions, Section 305(1) C-F of the Constitution permits the President to declare a state of emergency in any State of the Federation, where there is clear and present danger of an actual breakdown of public order and public safety requiring extraordinary measures to avert such danger. There cannot be public order or public safety in any part of the Federation such as Osun State where the entire Judiciary is shut down, and there are no lawful means to resolve grievances by the public. Let the Governor save Osun State. We cannot dance forever.

Ebun-Olu Adegboruwa, SAN

Navigating the Storm: Addressing Systemic Challenges in Nigeria's Judiciary in View of JUSUN Strikes

Lazarus Chinwokwu

Background

Not only recently, but Nigeria's Judiciary has faced longstanding challenges with industrial actions by court workers, and this is particularly pronounced by the Judiciary court workers strike in Osun State which, taken by itself and the persistence of the wider problems which provoke these disputes, show that the Judiciary is a long way off from addressing many of the underlying

“…. revolving around allegations of maladministration and mistreatment, particularly targeting Chief Judge, Justice Oyebola Adepele Ojo. Accusations of persecution of staff and the withholding of entitlements fuelled discontent among judicial workers, culminating in protests and ultimately the strike”

problems in the administration of justice. The suspension of JUSUN members in Osun State, along with unresolved grievances of Judiciary court workers nationwide, is taking a huge toll on the delivery of justice services, and, in Osun State, has significantly disrupted the conduct of judicial business, severely limiting access to the justice system for many. The response from the Osun State government has failed to adequately address crisis, reflecting a glaring lack of serious engagement, brinkmanship and effectiveness by the government. These strikes serve as a stark reminder of broader structural deficiencies within the Nigerian Judiciary , encompassing the urgent need for the Judiciary’s financial autonomy, improved working conditions of its workforce, and the need for a healthy working relationship between court leadership and administration. It is exigent to address these issues heads-on, foster more robust dialogue while implement substantive reforms to restore public trust in the judiciary.

The Plight of JUSUN Members in Osun State: A Crisis of Access to Justice and its Far-reaching Implications

The strike action begun by the JUSUN in Osun State on November 22, 2023, under the leadership of Chairman, Oluwagbenga Eludire, underscores deep-rooted grievances within the Osun judicial system, revolving around allegations of maladministration and mistreatment, particularly targeting Chief Judge, Justice Oyebola Adepele Ojo. Accusations of persecution of staff and the withholding of entitlements fuelled discontent among judicial workers, culminating in protests and ultimately the strike. The events preceding the strike, including protests on November 20 and 21, 2023, highlighted the intensity of dissatisfaction and the perceived need for decisive action.

The aftermath of the strike, now over three months, has cast a worrisome shadow over access to justice in Osun State, in effect locking down judicial business in the State, and effectively, the operations of a branch of government in that State. With pending cases which would likely include time-sensitive proceedings, and those that involve human rights and liberty, the inability to access courts would have a staggering deprivative effect on many and represent effective denial of access to justice, further perpetuating systemic injustices to those who already suffer significant social, economic and legal disadvantages. Additionally, the strike's

impact will particularly hurt administratively detained and pre-trial detainees, who will be denied timely access to bail hearings, exacerbating issues of police-cell and prison congestion and prolonging their incarceration.

Government Response: Lacking in Substance

The response of the Osun State Government to the crisis within its Judiciary has been disappointing, to say the least. While some incremental progress is acknowledged, the Government’s efforts to fully engage with the underlying fissures and fundaments of the crisis lacks credibility.

In February, Osun State Governor, Ademola Adeleke, set up a Committee to resolve issues that sparked the JUSUN strike, but it was a belated intervention that would have been more meaningful if it had come sooner, given the peculiar context of the problems that triggered the strike. Insisting, simpliciter, as the Government earlier did, that the reinstatement of suspended workers falls solely within the purview of judicial bodies, the Government effectively shirked its broader governance responsibilities to ensure access to institutions of justice in the State. While it is correct that appointment and disciplinary matters involving judicial workers are constitutionally handled by a judicial body, the Government still bears overall responsibility to maintain the rule of law in the State.

Furthermore, the Government’s reluctance to address issues such as inadequate working conditions of JUSUN workers, non-payment of their allowances, and suspension of staff allegedly without due process, appears, if the curtains are lifted, to have less to do with respecting the institutional autonomy of the Judiciary, than it is of achieving the political objective of targeting the Chief Judge, ostracising her and leveraging on external assistance to build a case for her removal from office, an objective which the Government has pursued prior to the strikes.

Systemic Challenges and Struggle for Judicial Autonomy

The challenges faced by Osun State are not isolated, but emblematic of broader issues plaguing the Nigerian Judiciary. Similar protests and strikes by court workers across various States, underscore systemic deficiencies that necessitate comprehensive solutions. Recent industrial actions by court workers, such as the court closures in the Federal Capital Territory (FCT) in 2021 and the ongoing warning strike in Ogun State which started on 26th February 2024, serve as poignant reminders of the entrenched challenges within our justice system and their profound impact on court workers and litigants alike.

The quest for financial autonomy for the Judiciary stands out as a stamping ground for relentless advocacy and struggle. The shutdown of courts in the FCT in April 2021 and subsequent nationwide protests by JUSUN underscores the pressing need for the Judiciary’s financial independence, for, without that independence,

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it is impossible to safeguard the Judiciary’s role as an independent, effective and equal branch of government. It is the to the credit of Judiciary workers that they have steadfastly and unflinchingly championed these causes, perhaps much more than any other civic collective.

The ongoing strike by the Ogun State branch of JUSUN, underscores the persistent struggle for unpaid allowances owed to judicial workers by State governments. Despite attempts at resolution through dialogue, the lack of tangible progress has compelled judicial staff to exercise their legal right to strike. This action serves as a stark reminder to State authorities of the financial hardships faced by judicial workers, impeding their ability to discharge their duties effectively.

The Far-Reaching Consequences of JUSUN Strikes

Industrial action by JUSUN have always had far-reaching consequences, that extend beyond the immediate concerns of judicial workers. Firstly, these strikes disrupt the normal functioning of the Judiciary, leading to frustration caused to court users and the suffocation of court dockets. Court closures and reduced operational capacity hinder the timely resolution of disputes, exacerbate docket backlogs, as well as prolong the legal process and its costs for litigants. As a result, individuals seeking redress through the legal system face prolonged uncertainty and increased financial burdens, further eroding trust in the efficacy of the Judiciary.

Secondly, strikes have a significant impact on judicial staff themselves, who are often forced to endure financial hardships due to unpaid allowances and suspended salaries. These workers, who play a crucial role in upholding the rule of law and safeguarding the democratic process, also endure the emotional tolls and strains of prolonged strikes and financial insecurity which can have long-lasting effects on their well-being and morale, ultimately undermining the quality of services they deliver to courts and Judges.

Furthermore, strikes by JUSUN generally have broader implications for access to justice and democracy in Nigeria. Access to justice is a fundamental right enshrined in the Constitution, and any impediments to this right threaten the very foundation of democracy. When the Judiciary, as a key pillar of democratic governance, is paralysed by strikes and institutional challenges, the democratic process itself is undermined. Without a functioning Judiciary to uphold the rule of law and safeguard individual rights, the principles of democracy become hollow promises, devoid of meaningful enforcement mechanisms.

Moreover, the strikes by JUSUN highlight deeper systemic issues within Nigeria's governance structures, particularly regarding the autonomy and independence of the Judiciary. The quest for financial autonomy, as advocated by JUSUN, speaks to a larger struggle for institutional relevance, integrity, independence and accountability. A Judiciary that is beholden to executive or legislature cannot fulfil its constitutional mandate impartially and effectively. Therefore, addressing the grievances of judicial workers and ensuring the autonomy of the Judiciary is not only essential for the efficient administration of justice, but also for the health of Nigeria's democracy as a whole.

Call to Action: Addressing the Crisis and Charting a Path Forward JUSUN strikes often thrust Nigeria's Judiciary into turmoil, and, given the sensitive and pivotal role they play in the delivery of justice, their voice should be taken seriously by all stakeholders. It is incumbent upon the government, JUSUN, judicial authorities, and civil society to engage in constructive dialogue aimed at resolving the underlying grievances judicial workers have, and restoring stability to the judicial system all year round. Failure to address the root causes

of the crisis risks further erosion of public trust in the Judiciary and undermines the fundamental principles of democracy and the rule of law.

In charting a path forward, priority must be given to ensuring financial autonomy for the Judiciary. The Government must allocate adequate funding directly to the Judiciary’s budget, free from executive control, to guarantee the effective functioning of courts and timely payment of salaries and allowances. Moreover, efforts to enhance the independence of the Judiciary, safeguarding it from undue influence or interference, are paramount. This includes strengthening the role of judicial bodies in disciplinary matters and ensuring transparent and merit-based appointments within the Judiciary.

Improving working conditions for judicial staff is also essential. Investments in training opportunities, addressing salary disparities, and modernising court facilities are imperative to bolstering the morale and professionalism of judicial workers. Additionally, public awareness and advocacy efforts are crucial in mobilising support for judicial reform, and holding government officials accountable for upholding the rule of law. By collectively committing to these measures, Nigeria can build a Judiciary that is resilient, independent, and capable of dispensing justice impartially and efficiently, thereby safeguarding the rights of all citizens and strengthening the fabric of democracy in the country.

Lazarus Chinwokwu, Access to Justice

Between Osun Governor, CJ and JUSUN: Who Blinks First?

Adesegun Talabi

For months now, the Osun State branch of the Judiciary Staff Union of Nigeria (JUSUN) has sustained an industrial action. The strike, initially aimed at compelling the State Government to settle members’ outstanding allowances and drawing attention to the alleged high-handedness of the Chief Judge, Justice Adepele Ojo, was exacerbated when the protest organised by the Union’s

“Since the failed suspension attempt, the Osun State Governor has made more judicious efforts to address the grievances of members of the State’s branch of JUSUN, but a resolution remains out of reach

members at the premises of the High Court in Osogbo was dispersed by Police operatives. But, this is just one side of the pickle in which the Judiciary in the State has found itself. The other is a fallout of the calamitous attempt by the State Governor to suspend the Chief Judge and appoint a replacement. Indeed, the Governor, in defiance of a subsisting order of the National Industrial Court, suspended the Chief Judge and appointed a replacement, but subsequently made an about-face when the suspension was denounced by the National Judicial Council (NJC) and the leadership of the Nigerian Bar Association (NBA).

The Governor’s attempt to substitute the beleaguered Chief Judge, raises questions about the existence and operation of separation of powers in Nigeria. In suspending the Chief Judge, the Governor ostensibly acted on the recommendation of the State House of Assembly, but undoubtedly found precedence in similar attempts by the executive to change the leadership of the Judiciary, chief among them being the suspension of the Chief Justice of the Federation by the previous President. The aforesaid recommendation of the House of Assembly flowed from its attempt to investigate the various allegations of infractions levelled against the Chief Judge, as contained in a petition brought to the House by JUSUN. The House, in the purported exercise of its powers under Sections 128(2)(b) and 129 of the 1999 Constitution, set up an investigative committee and thus, recommended the Chief Judge’s suspension to enable it properly probe the allegations.

To be clear, Section 292(1)(a) of the Constitution empowers the Governor of a State to remove the Chief Judge, upon receipt of an address supported by two-third majority of the House of Assembly praying that he be so removed for his inability to discharge his duties, misconduct or for contravention of the Code of Conduct. The courts have however, conveniently held at various times that such removal cannot be lawfully done, except with the input of the NJC. It is important to note that, the Constitution does not make any requirement for such input. The court’s view nevertheless, is that since, for example, the removal of a Chief Judge on the ground of inability to perform the functions of his office or appointment cannot be ascertained and confirmed by the Governor or the House of Assembly in the absence of any input from the NJC under which supervision the Chief Judge discharges his functions as judicial officer, and which body also is directly responsible for exercising disciplinary control over the said State Chief Judge, the NJC must be a participant in the removal process before

same can be properly done.

In Elelu-Habeeb & Anor v AG Federation & Ors (2012) 12 NWLR (Pt 1318) 423 (a case that has become the locus classicus for the constitutional principle around the subject- matter of the power to remove any judicial officer), the Supreme Court found that, the Chief Judge of a State cannot be removed under any guise without recourse to the NJC. The facts of the case involved Hon. Justice Raliat Elelu-Habeeb, who was the Chief Judge of Kwara State. The Governor of the State forwarded a petition to the House of Assembly alleging acts of misconduct against the Chief Judge, who was then summarily relieved of her office by the State House of Assembly. In its determination of the issues, the Supreme Court found that the NJC is an executive body established for the good governance of the country under Section 153 of the Constitution. The court further observed that under paragraph 21 of part 1 of the Third Schedule to the Constitution, the NJC may recommend to the Governor of a State suitable candidates for appointment to the offices of the Chief Judge and for the removal from office of judicial officers. The court accordingly held that:

“…from these very clear provisions of the Constitution which are very far from being ambiguous, the Governors of the States and the Houses of Assembly of the States cannot exercise disciplinary control touching the removal of Chief Judges of States or other Judicial Officers in the States”.

It is the writer’s view that the Supreme Court has taken this position, to prevent the rampant removal of out-of-favour Chief Judges by their Governors. Such an occurrence would be a travesty of the principle of separation of powers, on which our Constitution is founded. An effective Judiciary must be immune from any threat of suspension or removal by the legislature or the executive. Commenting on the importance of an independent Judiciary, the court in Sahara Reporters and Anor v Saraki (2018) LPELR-49738 (CA) stated:

“I have deemed it expedient to reiterate the fundamental axiom, that an independent and courageous Judiciary is the greatest asset of a free people anywhere in the world. This is absolutely so, because by the very nature of the fundamental functions and role, thereof, the Judiciary is the citizens' last line of defence and hope in a free democratic society. Indeed, that is the line separating constitutionalism from totalitarianism”.

Since the failed suspension attempt, the Osun State Governor has made more judicious efforts to address the grievances of members of the State’s branch of JUSUN, but a resolution remains out of reach.

X TueSday, M a RCH 5, 2024 • THISDAY cover
Adesegun Talabi, Principal Partner, A.K. Talabi & Co., Lagos
Protesting JUSUN Members in oshogbo
05.3.2024 XI

NGX Group Declares N5.2bn Profit After Tax, N1.5bn Dividend

Nigerian Exchange Group

Plc has announced a profit after tax of N5.2 billion and a final dividend of N1.5 billion for the year ended December 31, 2023.

The NGX in a statement said the group experienced a surge in gross earnings, rising by 57.4 per cent to N11.8 billion from N7.5 billion in 2022. “This growth was attributed to performances in core revenue and other income segments. Notably, transaction fees rose by 52.6 per cent, driven by increased trading activities, while listing fees and rental income increased by 42.2 per cent and 41.8 per cent, respectively. Strategic investments also contributed to a 5.4 per cent boost in treasury investment income.

“Other income, representing 29.7 per cent of gross earnings, witnessed an unprecedented rise of 163.6 per cent, reaching N3.504 billion. Key contributors to this surge were market data

income, which increased by 44.1 per cent, and an exceptional 304.8 per cent rise in other operating income.

“In light of the robust operational performance, the Board approved a final dividend of N1.5 billion at 75 Kobo per share for the year ended 31st December 2023. This is in addition to an interim dividend of N495.53 million at 25 Kobo per share paid in August 2023, bringing the total dividend for FY 2023 to N1 per share, “it said.

Commenting on the dividend, the Group Chairman, NGX Group, Umaru Kwairanga, expressed profound satisfaction and optimism, stating, “Today’s announcement of both the financial results and dividend pay-out is a testament to NGX Group’s unwavering commitment to maximising shareholder value and the resilience of our financial position. We are elated to reward our shareholders, and this

underscores our confidence in the sustainable growth of the Company. I would like to reassure all stakeholders that the Board and Management are focused on positioning NGX Group as the premier financial market infrastructure in Africa.”

The Group Chief Executive Officer, NGX Group, Mr. Temi Popoola expressed satisfaction with the company’s operational performance.

He said, “I am pleased with the significant improvement in NGX Group’s operational performance. We have witnessed notable increases in transaction and listing fees, as well as in rental and treasury investment income. Our strategic focus on technology income and other streams, along with strong capital allocation, has led to a notable increase in return on equity to 13.8%. NGX Group is poised to continue its trajectory of growth, innovation, and value creation for its stakeholders in the upcoming fiscal year.”

IWD: ImpactHER to Train 250 Female Entrepreneurs on Digital Skills

ImpactHER, Africa’s foremost not-profit organisation with a mandate for empowering African female entrepreneurs has announced plans to train for free over 250 female entrepreneurs in Lagos as part of activities to mark the International Women’s Day holding.

In partnership with the African Union and supported by other sponsors such as GIZ and Brave Women, the free training which will hold at The Zone, Gbagada will bring together over 250 small and medium scale female entrepreneurs who are engaged in various business activities where they will undergo training on market expansion strategies, digital skills, packaging and export, business book keeping, business financing and various other topics which will help them navigate the challenges of running their businesses.

According to Clementina Uzogor, Director, ImpactHER, the theme of the training “Inspiring Inclusion: Unlocking Opportunities Using Digital Skills and Market Expansion” is sacrosanct this period as SMEs need to know that business success and expansion is possible once they have a good grasp of the various digital skills available to them. “Excellent use of digital skills will help SMEs create a niche for themselves and reach a global set of customers. This is the essence of this training. We have put together wonderful facilitators to explore in details the various digital marketing skills and how they can help with business and market expansion”, she said. She hinted further that this year’s training is of a different make owing to the speakers and facilitators that have been scheduled to impact the

women. She said: “The speakers for this year’s celebration have been carefully researched and put together. Olanrewaju Oniyitan, Founder and CEO, W-Holistics Business Solutions; Florence Okafor, Chief Trade Promotion Officer, Nigeria Export Promotion Council; Olatunde Shobajo, Youtube Expert at Valor Reviews and Chidinma Ndukwe, Social Media Manager, Robert Taylor Media will be on ground to share their business experience and expertise at the training. Our panelists include: Adaku Ijara, MD/CEO, Emerging Africa Group; Oluwatoyin Aralepo, Director of Finance, Mastercard Foundation; Dr. Oluseyi Olanrewaju, Chief Financial Officer, Digital Reality, Ayisat Olanrewaju, Founder, Corporately Lucid and Adesuwa Rhodes Okunbo, Founder, Aruwa Capital”.

Nestlé Provides Water, Sanitation Facilities in Community Schools

Learners and educators at LG Primary School, Adie

Owe, Ado-Odo-Ota Local Government of Ogun State, were jubilant at the inauguration of Water and Sanitation Facilities provided by Nestlé Nigeria PLC. The facilities will serve over 500

LG Primary School Adie

Owe is a beneficiary of Nestlé for Healthier Kids (N4HK), a school-based nutrition and health education program built on four pillars: Healthy Nutrition, Healthy Hydration, Physical Activity and Hygiene.

Recognizing hygiene as a crucial component of the N4HK program and affirming the difficulty of hygiene practice and education in the absence of basic water and sanitation facilities, Nestlé’s investment in water and sanitation facilities for beneficiary schools underscores its commitment to comprehensive health education, enhancing quality of life and building

thriving communities.

Speaking at the event, Nestlé Nigeria’s Corporate Communications and Public Affairs Manager, Victoria Uwadoka, said, “At Nestlé, we recognize that maintaining appropriate hygiene standards and practices which is one of the pillars of N4HK is very difficult in the absence of basic water and sanitation facilities. Therefore, we have invested in providing access to water and sanitation facilities in the N4HK beneficiary schools. In Ogun State alone, we have completed and commissioned facilities in ten schools, serving 4,000 learners and educators as well as members of the immediate communities.”

“The commissioning today is very significant as it is one more achievement towards our resolve to make access to water a reality in every school within the individuals including educators, learners in the school and several

Money Market Indicators (in Percentage)

families within the community. N4HK program, in alignment with Sustainable Development Goal 6 (SDG-6), - ensuring availability and sustainable management of water and sanitation for all.” she added.

“The absence, inadequacy, or mismanagement of water and sanitation services pose significant health risks, impeding human well-being and hindering social and economic development. Recurrent instances of water, sanitation, and hygiene (WASH) related illnesses among children contribute to school absenteeism and malnutrition.

As outlined in Goal 6 of the United Nations Sustainable Development Goals (SDGs), ensuring universal access to safe and affordable drinking water, sanitation, and hygiene remains a global imperative.

The World Bank estimates that 70 million Nigerians lack access to safe drinking water, and 114 million lack access to basic sanitation facilities, “she said.

The price of OPEC basket of twelve crudes stood at $81.30 a barrel on Tuesday, compared with $79.70 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

business/ MOn e YG ui D e • Monetary Policy Rate - 13% MARKET INDICATORS • Source - CBN MONEY AND CREDIT STATISTICS (M i LL i O n n A i RA) NOvEMbER, 24 Money Supply (M3) 72,014,274.74 -- Cbn bills Held by Money Holding sectors 1,245,804.25 Money supply (M2) 71,331,641.40 -- Quasi Money 45,146,611.59 -- narrow Money (M1) 26,185,029.81 ---- Currency Outside Banks 3,081,255.46 ---- Demand Deposits 23,103,774.40 net Foreign Assets (nFA) 32,212,549.50 net Domestic Assets(nDA) 58,300,995.27 -- net Domestic Credit (nDC) 39,801,725.20 ---- Credit to Government (net) 32,511,333.17 ---- Memo: Credit to Govt. (net) less FMA 0.00 ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 ---- Credit to Private Sector (CPS) 59,737,156.08 --Other Assets net 4,720,308.20 Reserve Money (base Money 22,908,392.34 --Currency in Circulation 3,347,716.33 banks Reserves 19,560,676.02 special intervention Reserves 0.00
Month December 2024 Inter-Bank Call Rate 16.99 Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR) 18.75 Treasury Bill Rate 8.93 Savings Deposit Rate 5.28 1 Month Deposit Rate 7.24 3 Months Deposit Rate 7.56 6 Months Deposit Rate 8.42 12 Months Deposit Rate 9.75 Prime Lending rate 14.17 Maximum Lending Rate 26.62
OPEC DAILY b ASKET PRICE As At 24t H JA nu ARY , 2024 XII tuesDAY, MARCH 5, 2024 • THISDAY
From Right: Jaiz Bank MD/CEO, Haruna Musa; Chairman of the Board, Mohammed Mustapha Bintube and Chairman, Nigerian Exchange Group, Umaru Kwairanga, during the completion of Board Meeting of the Bank in Abuja...recently

Stock Market Appreciates by N1.86tn on Transcorp Power Listings

Kayode Tokede

The stock market segment of the Nigerian Exchange Limited (NGX) yesterday commenced the new week on a positive note, as gains in newly listed Transcorp Power Plc and 25 others lifted the overall market capitalization by N1.86 trillion.

Transcorp Power listed 7.5 billion shares at N240.00 per share, amounting to N1.8 trillion on the main board of NGX.

The NGX All-Share Index (ASI) gained 95.91 basis points or 0.10 per cent to be close at 98,847.89 basis points.

Consequently, market capitalisation rose by N1.86 trillion to close at N55.890 trillion.

This week, analyst at United Capital Plc in a statement said “we expect mixed sentiment towards equities investments, with bearish sentiments possibly outweighing positive sentiments as a direct result of the high yields

in the fixed income market.

“However, we expect increased appetite among investors towards corporates in the financial services sector, as investors look to continue to position themselves in dividendpaying stocks ahead of full-year dividend declarations.”

However, investor sentiment, as measured by market breadth was slightly positive as 26 stocks gained relative to 25 losers.

Transcorp Power emerged the highest price gainer of 10

per cent to close at N265.00, per share. Transcorp followed with a gain of 9.94 per cent to close at N15.70, while PZ Cussons Nigeria advanced by 9.93 per cent to close at N37.10, per share.

NEIMETH International Pharmaceuticals increased by 9.88 per cent to close at N1.89, while Juli added 9.87 per cent to close at N4.12, per share. On the other side, Dangote Sugar Refinery, Unity Bank and Vitafoam Nigeria led others on the losers’

chart with 10 per cent each to close at N53.10, N1.98 and N22.95 respectively, per share.

NASCON Allied Industries followed with a decline of 8.55 per cent to close at N53.50, while MTN Nigeria Communications (MTNN) shed 7.82 per cent to close at N185.00, per share. The total volume traded rose by 16.87 per cent to 429.640 million units, valued at N19.924 billion, and exchanged in 10,749 deals. Transactions in the shares of

Transcorp led the activity with 203.433 million shares worth N3.187 billion. Transcorp Power followed with account of 40 million shares valued at N10.560 billion, while United Bank for Africa (UBA) traded 19.589 million shares valued at N448.026 million.

AIICO Insurance traded 12.672 million shares worth N13.085 million, while Access Holdings traded 12.390 million shares worth N259.935 million.

PRICES FOR SECURITIES TRADED ASOF MARCH /29/24

mARKET NEWS
XIII TUESdAy, m ARCH 5, 2024 • THISDAY
MAIN BOARD DEALS MARKET PRICE qUANTITy TRADED vALUE TRADED ( N ) MAIN BOARD DEALS MARKET PRICE qUANTITy TRADED vALUE TRADED ( N )

FOCUS

Elumelu Asserts Global Repute as Foundation Becomes Harvard Business School Case Study

Few billionaires command repute like Tony Elumelu. The depth at which he lives becomes his personal song or energetic thumbprint he leaves upon the world. In the symphony of his existence, the exploits of the chairman of the United Bank for Africa (UBA) constitute the melody of his legacy. Elumelu’s true bequest to the world is neither his asset nor his billions but the positive transformation he brings to the lives of fellow humans. This is why, in an unprecedented move, the graduate business school of Harvard University, United States, has coopted the Tony Elumelu Foundation’s extraordinary achievements as a case study in its curriculum, writes

There is a belief in billionaire circuits that Tony Elumelu was born at the exact moment when the barrier between the world and the heavens parted and stretched whisper-thin, thus drenching his natal passage with divine blessings. Some claim he popped out swaddled in pixie dust, further substantiating claims that his enviable trajectory as a man was charted from birth.

Whatever the claims and contemplation surrounding his birth hour, the most important truth about Elumelu is that his birth appended a whole new meaning to a divine miracle; the more his life unfurls, the more he substantiates notions of his charmed existence – the Chairman, United Bank of Africa (UBA) personifies that proverbial old magic of industry, that belts its heady, sweet notes to spur and enrich anyone who cares to listen.

Indeed, Possessing the ashes of great men is often more convenient than possessing the men themselves in their lifetime. But in Tony Elumelu’s case, the reality is remarkably different; Nigeria is extremely lucky to possess Elumelu. This is because the maverick banker elevates fiscal management and entrepreneurship to an art form for the benefit of Nigeria and Africa.

The imperative to celebrate Elumelu manifests across Africa and America’s high societies and industrial circuits, where he blazes an enviable and inspiring trajectory. This is why his Tony Elumelu Foundation (TEF) was recently coopted as a case study in the prestigious Harvard Business School curriculum.

In an unprecedented move, the Harvard Business School, the graduate business school of Harvard University, has spotlighted the TEF, recognising its philanthropic achievements in a revolutionary case study.

The case study, the first of its kind on any philanthropic organisation in Africa, was launched on Thursday, February 29, 2024, before a class of graduate students in Boston, Massachusetts and will explore the foundation’s unique approaches and transformative initiatives, showcasing how strategic philanthropy offered by TEF is driving positive change and elevating countries and communities.

This move by Harvard underscores the foundation’s pivotal role in empowering young African entrepreneurs across all 54 African countries and places the foundation at the forefront of global discussions on transformative and catalytic philanthropy, acknowledging its significant contributions towards fostering entrepreneurship in Africa.

In addition to delving into the foundation’s innovative approaches and the resultant impact it has garnered over the years, the event also featured an exclusive acknowledgement of the Founder of TEF, Tony Elumelu’s economic philosophy of Africapitalism, which positions the private sector and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.

Despite such global appreciation and celebrating his feats, Elumelu maintains a shrewd disposition to acclaim. He understands that his privileged status must be taken as more than an opportunity to cavort and indulge in guilty pleasures.

For instance, he takes every anniversary as an opportunity to check in on himself and reexamine his life and accomplishments amid the tumult of life. If you ask, he would tell you that taking stock periodically offers him a chance to reassess his life without recourse to blame-mongering, the mourning of near misses and botched opportunities.

Rather than yield to the dread of coming up short, Elumelu fills his days with gratitude for his growth, evaluating how far he has come and to what extent his business and charitable gestures impact his immediate and remote communities.

Overall, Elumelu commits to creating conditions essential to turning a good business idea into a formidable enterprise. The difference is in the ability to translate the idea into action, into reality. To turn ideas or dreams into results that can be seen and measured, some factors are required, he said.

“You need to be disciplined, focused and resilient. In the journey of trying to translate ideas into results, many things happen. And if you are not disciplined, focused and resilient, you will not reach your destination. Of course, some things are out of our control as business owners. This is the case with the operating environment. These are things

that are outside the domain and control of entrepreneurs, but they are also important in shaping and defining whether an idea becomes successful or not.

“The tax regime, the infrastructure, the power – who is in power? – Market access. These things are beyond the imaginative powers of an aspiring entrepreneur. So, I would say, in short, that for a business to succeed or not to succeed it requires a government interaction, doing what must be done to create the right environment, and the entrepreneur being energetic, focused and resilient. Then, of course, the support of people like us for access to capital, training, and mentoring. We work together,” said Elumelu.

Aside from all these, the government said Elumelu must play its part in facilitating an environment that enables businesses and entrepreneurs to thrive.

He added, “First, it is a great responsibility of the government to create the right operating environment. Governments should try to make their business environment hospitable and attractive for investment. When the government makes the country attractive, when that country opens up, investors can invest. When investors arrive, they invest in energy, telecommunications, road, port, airport, and rail infrastructure. All the government needs to do is create the right conditions that will attract investors and create the right environment to attract investment to the country.

“When this investment happens, in what we call Africa-capitalism, when the private sector invests in the long run, Investors profit, but at the same time they help provide the services and equipment companies need. It is therefore up to governments to continue to work on laws that guarantee property rights, creating the right macroeconomic environment that ensures predictability.”

However, Elumelu is not all mere talk. To assert his commitment to his professed

purpose, Elumelu devotes every resource at his disposal to wealth creation and propagation across Africa.

Like the proverbial nurturant spirit, billionaire magnate and bank chief shoulders a self-appointed task of nursing wilting and fresh seeds to full bloom. And that was why he established the foundation.

Elumelu understands that donations and philanthropic gestures from his ilk, while appreciable, must not be restricted to pitiable handouts in cash and kind. Hence, he established the TEF as a more dependable vehicle of spreading prosperity and providing a fairer economic system.

While he recognises that philanthropic giving plays an important role in tackling poverty, he adopts a more constructive means to ending poverty and fighting inequality via his foundation.

Founded in 2010 by Elumelu, the foundation has grown to become Nigeria’s leading philanthropic organisation, and this is attributable to its ingenious means of philanthropy, including a culture of empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and ensuring inclusive economic empowerment.

Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly $100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector and, most importantly, entrepreneurs as the catalyst for the social and economic development of the African continent.

The foundation’s ability to fund, train, mentor, and network young African entrepreneurs has also created a unique

platform for catalysing growth across the African continent. The robust ability of the TEF to reach entrepreneurs across geographies and sectors has enabled it to conduct innovative partnerships with the European Union, the United Nations Development Programme, the International Committee of the Red Cross, the US government via the United States African Development Foundation (USADF), the Organisation of African, Caribbean and Pacific States (OACPS), the French Development Agency (AFD), the German Development Finance Institution (DEG), the German Agency for International Cooperation (GIZ), the African Development Bank (AfDB), and Google, with bespoke programmes including targeting female empowerment and growth in fragile states.

One veritable but unforgettable charity on the TEF platform was the Elumelu Nigeria Empowerment Fund, a non-profit organisation established to transform communities ravaged by natural disasters, hazards and conflicts into thriving and economically sustainable communities.

The Elumelu Nigeria Empowerment Fund was created from the N2.5 billion donated by The Tony Elumelu Foundation and Heirs Holdings companies and was announced at the Presidential Fundraising Dinner for the Victims Support Fund in July 2014.

The fund focused on communities such as those in the Niger Delta and Plateau states to create opportunities and empower people in affected communities, enabling them to rebuild their lives and businesses whilst instilling a sense of economic empowerment for the long term.

Given TEF’s focus on promoting entrepreneurship as the key to sustainable socio-economic development on the continent, the Elumelu Nigeria Empowerment Fund was made nonoperational in 2015 to implement the foundation’s entrepreneurship programme fully.

Since establishing the TEF, few beneficiaries have emerged and blossomed across Nigeria and Africa’s industrial sectors, thus driving an all-inclusive growth process across the continent. It may be said that Tony Elumelu, through his charities and youth empowerment platforms, has contributed in no small measure to eradicating poverty and unemployment on the African continent.

XIV TUESDAY, MARCH 05, 2024 • THISDAY
Elumelu
05.3.2024 XV

Need for 'State of Emergency' on Hunger

Over the last few months, there has been surge in hunger occasioned by online begging by Nigerians who live in sheer agony and suffering given the state of affairs of the nation. Sunday Ehigiator writes that the pockets of hunger protests in some states has given rise the need to declare a state of emergency on ‘hunger in the land’

“These days, I now fear to post pictures, or open chats from friends or families on Facebook, WhatsApp, or any other social media platforms I belong, without first spying on the messages from my drop-down to be sure it’s not another, ‘Please I’m urgently in need of your assistance with N3,000’, a.k.a. ‘urgent 3k’ billing.

“The fear of billing is the beginning of wisdom. It’s like everyone on my contact list at the moment is a message away from billing you. Everyone is complaining of hunger, and inflation in the prices of food, and even water. It is like we are in the end times in Nigeria already,” cries out Akinwunmi Ayodele, a Nigerian university student.

In a voice video circulating online, some market women also cried out, while one said, “Things are too costly; we’re tired,” another fish seller grumbled. “A carton of Titus is N100,000; it used to cost N17,000. Kote fish is going for N60,000. Shawa, which we used to sell for N70, now goes for N700. Garri, which used to be N50, is now N700 for half paint bucket.”

This is the current state of Nigerians. Since the beginning of President Tinubu’s administration about nine months ago, prices of food and other commodities have continued to rise, including the Naira to Dollar rate, as hunger rules the land.

Spike in Cost of Food Prices

Inflation accelerated after President Bola Tinubu’s sudden announcement of the removal of the petrol subsidy in his inaugural speech on May 29, 2023, followed later by the CBN’s policy of floating the naira.

Though lauded by experts, the duo policies of Mr Tinubu have seen petrol prices rise from N145 per litre to N630, while the naira plunges against the naira in the parallel market, trading at about N1,500 to $1.

Nigerians have cried out over economic hardship with inflation and food prices spiking under Mr Tinubu’s watch. Earlier in the week, protests over soaring food prices rocked two northern states, Niger and Kano.

Some Yoruba market women in Ogun lambasted the president for promulgating economic policies that negatively affect the prices of goods and cause untold hardship for Nigerians, threatening to beat the president up if they saw him.

Tinubu acknowledged the country’s prevalent hardship but urged Nigerians to show understanding.

In December 2023, Tinubu in a public address said, “The financial re-engineering of our country is ongoing. We are determined

to deliver Nigeria safely through the tunnel of hope, stability, and economic prosperity.”

Recently, fuji maestro Wasiu Ayinde, aka Kwam 1, also Tinubu’s praise singer during his campaign, cried out over economic hardship in the country.

“Nigerians are angry, traders are angry, why is kidnapping on the increase?” Kwam 1 sang, lamenting the naira freefall against the dollar.

As of the last update by the Food and Agriculture Organisation in December, food inflation was placed at 32.84 per cent. Nigerians are struggling to cope with the rising cost of food items in the country.

The most recent National Bureau of Statistics (NBS) report shows that for November 2023, the year-on-year Food inflation rate was an increase of 8.72 per cent points from the November 2022 rate of 24.13 per cent.

The yearly spike in food inflation

was driven by higher prices in categories such as Bread and Cereals, Oil and Fat, Potatoes, Yam and Other Tubers, Fish, Fruit, Meat, Vegetables, Coffee, Tea, and Cocoa.

On a month-on-month basis, the Food inflation rate for November 2023 was 2.42 per cent, which was a 0.51 per cent increase compared to the October 2023 rate of 1.91 per cent.

The monthly increase in food inflation was linked to a rise in the rate of average prices for Bread and Cereals, Oil and Fat, Meat, Coffee, Tea, Cocoa, Potatoes, Yam, and Other Tubers.

The average cost of getting food and drinks has increased by 92.73 per cent in the past three years.

Also, the cost of cooking a meal is now about 73 per cent of the minimum wage for average Nigerian households as inflation bites hard.

Previous and Current Food Prices

A recent market survey by THISDAY, across major markets in Lagos state, including,

This country is depressing. Very soon we will all start to see or hear people die of hunger along our streets with the way things are going if urgent care isn’t taken...Threesquare meals are now a luxury that I and my family can no longer afford. Please help us beg those in power... to reduce the cost of food in Nigeria

Daleko Rice Market, Mile 12, and Balogun Market revealed that a bag of rice which was sold for N35,000 nine months ago is now sold between N65,000 and N75,000.

A bag of yellow garri, which sold for N25,000, has jumped to N40,000, while white garri now sells for N30,000 against N13,000 for which it sold last year.

A bag of corn that sold for N19,000 last year May now sells for N66,000, a bag of Millet sold for N18,000 now sells for N55,000, while flour for baking and pastries sells for N50,000 against N28,000 for which it sold last year May.

A ‘long slate’ of ‘Titus’ (mackerel) now sells for N125,000 against N78,000 for which it sold last year. A square cartoon of ‘Titus’ sold for N38,000 the previous year now sells for N85,000, while a 25 litre of palm oil formerly sold for N31,000 now sells for N45,000. Indomitable which used to be sold for N3,950 per carton now sells at N7,200. A bag of Honey beans (50kg) used to be sold at N60,000, now sells at N97,000

Quest for ‘Urgent 3k’

No doubt, the rising cost of food, and inflation has had a huge impact on the living standards of many more Nigerians. This has also had an impact on the number of people who take to social media to beg people for money.

Before now, it was more common to see people begging for urgent 2k (urgent N2,000) online, but at the present day, the goal post has shifted to urgent 3k (urgent N3,000), because N2,000 can practically not cook or buy you a 3-square mean anymore in Nigeria.

More Nigerians have been further pushed to the poverty lane. It is said in popular parlance that there are now two economic classes in Nigeria, ‘the low-income earners and the ‘high-income’ earners. This is because the supposed middle-income earners, known as the middle class, have now fallen off the ladder to join the ‘low-income’ earners.

There is now a new class known as ‘No income earners’, who majorly fend off social media begging for urgent 3k’s all over the place, under several guises such as the need to pay house rent, school fees, and medical bills amongst others.

However, the underlying factor is they all beg to put food on their table. This also tells of the increasing number of beggars now scattered all around busy streets across the country.

FEaturEs Group Features Editor: Chiemelie Ezeobi Email: chiemelie.ezeobi@thisdaylive.com, 07010510430 XVI THISDAY • TUES day TUES day M a RCH 5, 2024 NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
Rising food prices have become an anathema Pockets of protest are springing up nationwide President Bola Tinubu

All efforts by the federal government to tame the skyrocketing prices of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas have failed to impact the rate the product is sold in the open market, with a 5kg cylinder selling for an average of N5,139.25 in January.

The latest data from the National Bureau of Statistics (NBS) showed that on a year-on-year basis, the price

Stakeholders in the nation’s agricultural sector, policy makers and consumers have expressed concerns over food safety issues and its impact on consumer health, noting that lack of food safety is enormously due to climate change and increasing chemical use in agriculture, particularly in developing countries.

According to them, this trend is raising concern among consumers, producers, and policymakers,

Nigerians buy LPG increased by 12 per cent from N4,588.75 in January 2023.

However, the last survey figures released by the NBS may have been obsolete now, THISDAY learnt, with the prices further rising substantially in February.

The price of a 5kg cylinder, THISDAY checks showed, now sells for as much as N6,500 or more in several parts of the country, with one kilogramme hitting N1,300 and above in recent times.

explaining that some major causes of food safety issues are aflatoxins and informal market hazards.

Aflatoxins are poisonous carcinogens that affect much of the global food supply which affects both human and animal health, while informal market hazards involve food safety challenges because they lack refrigeration units, making food unsafe for consumption.

To address food safety concerns, several organizations worldwide are

In the same vein, a 12.5kg now goes for as high as N16,250, 25kg goes for N32,500 and 50kg sells for N65,000, although there could minor fluctuation in prices, depending on where the product is bought.

In November last year, the federal government announced the exemption of imported LPG and its related equipment from the payment of customs duty and 7.5 per cent Value Added Tax (VAT) to crash the rising prices.

collaborating with the International Institute of Tropical Agriculture (IITA)–CGIAR to execute the Food Safety for Africa (FS4Africa), a project established to address global food safety challenges.

The FS4Africa Project Lead Titilayo Falade, at a two-day meeting at IITA’s headquarters in Ibadan, Nigeria, explained that the major causes of informal market hazards are coliform contamination, food fraud, heavy metals, mycotoxins, and pesticide residues.

Specifically, in the circular from the ministry of finance, dated November 28, 2023, signed by the head of the ministry, Wale Edun, it said the exemption aligned with President Bola Tinubu’s commitment to increasing the supply of LPG to meet local demand, reducing market prices and promoting clean cooking practice.

But since then, rather than reduce, the prices have gone even higher, putting already financially pressed Nigerians

“FS4Africa would apply newly developed innovative approaches, convergence strategies, and stable partnerships to promote food safety across the globe,” she said.

According to her, the meeting serves as an avenue to provide a deep understanding of all the Work Packages (WPs) and their interconnection, focusing on use cases. It also established collaboration modalities for technical and administrative aspects of FS4Africa.

The FS4 Africa project, which

under even more intense pressure.

Also, penultimate week, the Minister of Petroleum Resources (Gas), Mr Ekperikpe Ekpo, said the federal government was considering halting the export of cooking gas, to slow down the escalating prices of the product.

Speaking on the sidelines of an internal gas stakeholders’ workshop in Abuja, the minister said that government was deeply concerned about the increasing rates in the market.

is funded by the European Union (EU)-funded project would focus on ensuring food safety by addressing contamination from informal markets and food hazards. IITA is implementing the project in partnership with several organizations, including Wageningen University and Research (WUR), Innovation Technology Cluster (ITC), Council for Scientific and Industrial Research, Ghana (CSIR-GH), Food Scale Hub Greece Association for Entrepreneurship and Innovation (FSH), and Ubuntoo. Other partners

Ekpo stated that serious meetings were ongoing on the matter, including the current practice of selling gas in dollars, which has impacted prices, stating that Nigerians will begin to see changes soon.

“On the issue of LPG, we are interacting with the critical sectors to ensure that there is no exportation of LPG. All LPG produced within the country will have to be domesticated,” he said.

include Food Systems Transformation Solutions (FSTS), the University of Pretoria (UP), Knowledge Economy Foundation for Society Development (KEF), African Union Development Agency (AUDA-NEPAD), Aglobe Development Center (ADC), Bayer, and McGill University. With the support from partners, FS4Africa will also enhance environmental sustainability, food security, and health.

Emmanuel Addeh in Abuja
BUSINESS WORLD Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com 08056356325 21 name of commodity Size State Price Sorghum 100kg 100kg 50kg 100kg 50kg 100kg 100kg J igaWa kaduna Lago S Benue e nugu d e Lta aB ia n30,000 n32,000 n26,000 n32,000 n24,000 n35,000 n36,000 name of commodity Size State Price r ice 100kg 50kg 50kg 50kg 50kg 50kg 50kg aB u J a PLateau (JoS) Lago S Sokoto oyo k Wara river S n65,000 – n70,000 n50,500 – n60,000 n60,000 – n70,000 n60,000 – n70,000 n50,000 – n60,000 n24,000–n27,000 n50,500 – n60,500 name of commodity Size State Price B ean S 50kg B ag 100kg 100kg 100kg 100kg m aidu guri k ano aB ia Lago S d e Lta n22,000 –n30,000 n 35,000 n 35,700 n 36,000 n 36,000 f ood c ommoditie S Price t oday RATES AS AT M AR ch 4,2024 MONEY MARKET REPO S & P INDEX S & P INDEX EXCHANGE RATE OPR 11.25% CALL 19.12% INDEX LEVEL 611.31% 1/4 TO DATE -0.07% N795.28/ 1 US DOLLAR* OVERNIGHT 11.50% 1-MONTH 16.25% 1-DAY 0.03% YEAR TO DATE 0.48% *AS AT M ONDAy, J ULy 24, 2023 3-MONTH 15.75% MONTH-TO-DATE -0.7% Continued on page 22 FG’s Efforts Fail to Make Impact as Cooking Gas Prices Continue Upward Swing NOTE: The story continues online on www.thisdaylive.com thi S day • T UESDAy, M AR ch 5, 2024 Policymakers, Consumers Express Concerns over Food Safety Challenges

Minister Inaugurates NCDMB Board, Pledges to Increase Local Content

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri has inaugurated the 4th Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB) in Abuja.

The NCDMB governing council is set up under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and draws membership from representatives of select institutions

connected with the oil and gas industry.

The board is chaired by Lokpobiri, while the Executive Secretary of NCDMB, Felix Ogbe, would serve as the Secretary of the Council.

Other members include the Executive Vice President, Gas, Power, and New Energy, Nigerian National Petroleum Company (NNPC), Mrs. Oritsemyiwa Eyesan and the Chief Executive Officer of the Nigerian Upstream Regulatory Commission (NUPRC), Gbenga Komolafe.

Also on the board are the the representative of the Ministry of Petroleum Resources, Mrs. Bekearedebo Warrens and the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Mr. Nicholas Odinuwe.

In his remarks, the minister explained that the NOGICD Act provided for institutional representation on the governing council, to enable the agency to benefit from the expertise and professionalism of key organisations and change the narrative in the oil and gas industry.

REA Meets States, Discos to Revamp Nigeria’s Power Sector

The Rural Electrification Agency (REA) has convened a two-day roundtable event to chart a new course for collaboration and partnership with designated representatives from the state governments and Distribution Companies (Discos).

In a statement, the said the meeting was convened in collaboration with frontline institutions in the sustainable development space, Ernst & Young (EY), the United States Agency for International Development (USAID) and the World Bank.

Opening the discussions, the Minister of Power, Chief Adebayo Adelabu spoke on the need for a deliberate collaboration amongst stakeholders in the sector to achieve the objectives.

Minister of Works, David Umahi, has restated the commitment of the federal government to ensuring that all the federal road projects are executed speedily and delivered to best standards.

He gave this assurance during his inspection visit to the rehabilitation work at EnuguPort Harcourt dual carriageway section 4( Aba-PH) executed by China Civil Engineering Construction Corporation Ltd (CCECC), according to a statement by his spokesman, Uchenna Orji.

Umahi lauded the contractor handling the project for showing

He said this would help in providing universal energy access for all to optimise the 2023 Electricity Act signed by President Bola Tinubu.

Adelabu said: “The dichotomy between on-grid and off-grid solutions should no longer be seen as a division but as complementary components of a holistic energy strategy.

“By seamlessly integrating ongrid and off-grid efforts, we can ensure that every citizen, regardless of location, enjoys the benefits of a reliable and sustainable power supply”.

While delivering his keynote address, Managing Director, REA, Salihijo Ahmad, emphasised the critical role of sustainable energy to national development.

He explained that: “Beyond

purposefulness, and announced the revocation of the warning letter issued to CCECC a fortnight ago over their delay in mobilising to the site despite the government’s directive.

”The warning letter given to CCECC for slow pace of work is hereby revoked. The new pace of work is excellent, the job quality is excellent, and the controller sends me progress reports every day,“ he said. The minister also inspected the rehabilitation and reconstruction of Enugu- Port Harcourt dual carriageway section 2 (Umuahia

keeping the lights on, the REA’s approach is to continue to explore access gaps across sectors while working with diverse stakeholders to target clean energy innovations towards solving real life problems.”

The Regional Managing Partner of Ernst & Young, Anthony Oputa, explained that the firm’s efforts in the energy sector are targeted at working in lockstep with stakeholders to create pathways for access to critical data on unelectrified communities.

Oputa reiterated ongoing efforts to establish a formal structure for engagement and collaboration with Discos, creating an enabling environment for mini-grid developers, while promoting accountability and capacity-building initiatives.”

Tower- Aba Township Rail/ Road) in Abia State, handled by the Arab Contractors and the East West Road section 111 (ElemeOnne junction) in Rivers State handled by Reynolds Construction Company Nigeria Limited.

He also visited the rehabilitation of Enugu-Port Harcourt Expressway Section 3 (Enugu -Lokpanta) in Enugu State handled by CGC, stressing that he was impressed by the progress of work on the respective projects.

“I will also take the quality of work going on to Mr. President

He stressed that NCDMB had recorded tremendous achievements in the oil and gas industry in the last 13 years of its existence and had achieved many of the set objectives.

Responding on behalf of the newly constituted council, the Chief

Executive Officer of the National Insurance Commission (NAICOM), Thomas, promised to uphold the confidence reposed in them. He affirmed that the NCDMB had performed creditably and that Nigerian content implementation had become

the envy of many countries.

“A lot of value has been added to the oil and gas industry and the Nigerian economy and I thank those who originated the NOGICD Act. We will do our best and we will continue the good work started by the NCDMB,” he said.

Global carbon pollution from energy hit a record high last year, driven partly by increased fossil fuel use in countries where droughts restricted hydropower production, according to an International Energy Agency (IEA) report.

Steep cuts in carbon emissions, mainly from burning fossil fuels, will be needed in the coming years if targets to limit a global rise in temperatures and prevent runaway climate change are to be met, scientists have said.

“Far from falling rapidly — as is required to meet the global climate goals set out in the Paris Agreement — CO2 emissions reached a new record high,” the IEA said in the report.

Global emissions from energy rose by 410 million metric tons, or 1.1 per cent, in 2023 to 37.4 billion metric tons, the IEA analysis reported by Reuters showed.

A global expansion in clean technology such as wind, solar and electric vehicles, helped to

because he directed me. I was just barely one week in office when he directed me to go and flag off this project because the leaders of Niger Delta came to visit him, and they complained bitterly about the road,” he added.

The contractors who spoke during the inspection visit to their respective projects said they were committed to the new order in road infrastructure development in Nigeria.

They assured the minister that they would ensure quality and speed in the delivery of their road projects.

reduce the rate of emissions growth, which was 1.3 per cent in 2022. But a reopening of China’s economy, increased fossil fuel use in countries with low hydropower output and a recovery in the aviation sector led to an overall rise, the IEA said in its report.

Moves to replace lost hydropower generation due to extreme droughts accounted for around 40 per cent of the emissions rise, or 170 million tonnes of CO2, it said.

“Without this effect, emissions from the global electricity sector would have fallen in 2023,” the IEA said.

Energy-related emissions in the United States fell by 4.1 per cent, with the bulk of the reduction coming from the electricity sector, according to the report.

In the European Union, emissions from energy fell by almost 9 per cent last year, driven by a surge in renewable power generation and a slump in both coal and gas power generation.

Gilbert Ekugbe

An agriculture consultant, Mr. Akin Alabi, has called on farmers to invest in Climate Smart Agriculture (CSA) in their bids to mitigate the effects of climate change on crop cultivation and food production.

Addressing newsmen in Lagos, he said climate-smart agriculture simply means applying smart practices to mitigate the effects of climate change on the agriculture process, maintaining that due to the changing weather patterns and climate change effects, he encouraged all local farmers to invest in automatic irrigation systems.

“Water is important in crop cultivation, so every farmer should put into cognisance the importance of irrigation system. In cases of drought, this will improve access to water and all-year-round food production,” Alabi said. He also reiterated the need for

F g ’ S eFF or TS FAIL T o mA ke Im PACT AS Cook I ng gAS Pr IC e S Con TI n U e U P wA r D Sw I ng

When THISDAY asked why the removal of the 7.5 per cent VAT failed to impact the market, Ekpo said: “It is not going to reflect that way. We are dealing with human beings. We have made a policy.

And these people, the investors, they want to maximise the profit that they are going to get from it.

“But at the end of the day, we have to come in. That is why you have the regulator; we are interfacing with them to make sure they crash the price. We are meeting with them on a daily basis”.

However, the latest NBS data on cooking gas prices covering

January said the average retail price for refilling a 5kg cylinder of gas increased by 3.55 per cent on a month-on-month basis from N4,962.87 recorded in December 2023 to N5,139.25 in January 2024.

“On a year-on-year basis, this increased by 12 per cent from N4,588.75 in January 2023. On state profile analysis, Nassarawa recorded the highest average price for refilling a 5kg cylinder with N5,790.00, followed by Jigawa with N5,681.82, and Gombe with N5,660.00.

“On the other hand, Kaduna recorded the lowest price with

N4,150.00, followed by Ogun and Osun with N4,751.04 and N4,763.53 respectively.

“In addition, analysis by zone showed that the North-east recorded the highest average retail price for refilling a 5kg cylinder with N5,296.32, followed by the NorthCentral with N5,240.36, while the South-west recorded the lowest with N4,805.05” it noted.

Also, the NBS data showed that the average retail price for refilling a 12.5kg increased by 1.96 per cent on a month-on-month basis from N11,510.16 in December 2023 to N11,735.72 in January 2024. On a

year-on -year basis, this rose by 14.19 per cent from N10,277.17 in January 2023.

“On state profile analysis, Cross River recorded the highest average retail price for the refilling of a 12.5kg with N13,040.00, followed by Jigawa with N12,875.00 and Zamfara with N12,725.00.

“Conversely, the lowest average price was recorded in Kaduna with N9,699.50, followed by Kwara and Niger with N10,000.00 and N10,400.00 respectively.

“Analysis by zone showed that the South-south recorded the highest average retail price for refilling a

12.5kg with N12,602.47, followed by the North-west with N12,224.93, while the South-west recorded the lowest price with N11,189.02,” the data showed.

Nigeria has over 208 Trillion Cubic Feet (TCF) of proven gas reserves, about the 9th in the world, but is unable to get it out of the ground due to low investment in the sector, further exacerbated by pricing issues as well as vandalism.

In addition, the country has over 600 Trillion Cubic Feet of potential gas reserves, which could last the country hundreds of years, even if optimally harnessed.

the adoption of reforestation as a CSA technique.

“We also need to begin to embrace the culture of agro-forestry; most of our trees are being felled, so must encourage reforestation to mitigate climate change effects on crop cultivation.

Most importantly, farmers must get insurance to provide a level succour to the farmers when climate change crisis occur,” the agriculture consultant added.

Similarly, an agriculture analyst, Mr Omotunde Banjoko, encouraged farmers to engage in rain harvesting and other CSA practices to enhance crop cultivation.

“One climate-smart agriculture practice that local farmers can adopt to mitigate the effects of climate change on crop cultivation is rain harvesting.

“Rain harvesting occurs when people channel water from rain or other water sources into their farms through a pipe system.

“The pipe system has a way of drenching the farmlands in preparation for crop cultivation.

“It is channeled in such a way that water can flow to different parts of the farm to get the desired results. It is a simple technique that local farmers can engage in to help their crops thrive.

“Young farmers can also pay rapt attention to weather forecasts more than depending on traditional farming systems.

Local farmers can also engage artificial ways of cultivating some crops that do not need a proper greenhouse to grow.

“Some people use local materials like bamboo to set up makeshift greenhouses for crop cultivation,” Banjoko said.

22 BUSINESSWORLD N EWS T UESDay, Ma R ch 5, 2024 • THISDAY
Despite Surge in Renewables, Global Carbon Pollution Hits Record High
Umahi Pledges Speedy Completion of Ongoing Roads Nationwide Adopt Climate Smart Agriculture to Boost Food Production, Expert Urges
Foo D Commo DITI e S Pr IC e To DAY n A me o F C ommo DITY S I ze STAT e Pr IC e on I on S 100kg 100kg 100kg 100kg 100kg 100kg 100kg Ib ADA n benUe D e LTA enUgU k A no P LAT e AU LAgo S n60,000 n65,000 n50,000 n45,000 n30,000 n45,000 n60,000 n A me o F C ommo DITY S I ze STAT e Pr IC e PAL m o I L 25 CL 25 CL 25 CL 25 CL 25 CL 25 CL L Ago S IbADAn eD o PH I mo Ab U j A n20,000-n35000 n22,000 — n35,000 n20,000 – n35,000 n24,000 – n35,000 n24,000 – n36,500 n25,500 – n35,000 n A me o F C ommo DITY S I ze STAT e Pr IC e g ro U n D n UT 100kg 100kg 100kg 100kg 100kg 100kg kA no LAgoS Ab IA benUe De LTA e n U g U n 20,500 n 32,000 n 27,000 n 27,000 n 34,000 n 23 000 n A me o F C ommo DITY S I ze Lo CATI on Pr IC e m AI ze 100kg 100kg 50kg 50kg 100kg 100kg 100kg oYo D e LTA L Ago S b en U e enUgU Ab IA kA no n10,000 n14,000 n9,000 n6,000 n16,500 n11,000 n9,400

Rathore: Nigeria Has no Reason Importing Fertiliser

The Managing Director, Rahamaniyya Fertiliser Plant, Satish Singh Rathore, in this interview with Adedayo Akinwale, said Nigerian has no reason importing fertiliser, excerpts:

Tell us about your company and the kind of fertiliser you produce

In Rahamaniyya fertilizer, we are preparing NPK 20:10:10 fertiliser and NPK 15:15:15. These two varieties are very familiar and very famous with the farmers and we produce all kinds of NPK fertilisers: They use NPK 20:10:10 and NPK 15:15:15 for various crops. The aim of Rahamaniyya fertilizer is to produce very good fertilisers for the farmers. That is our target. In preparation of NPK, we are using urea, we are using DAP, we are using MOP and limestone. Limestone is a raw material, but in preparation of the limestone, we have our own products, we are not going to buy from anybody. That means our limestone granules are very good product because it’s 100 per cent limestone. We are giving 100 per cent to farmers.

The Rahamanniyya fertilizer — NPK 20:10:10, NPK 15:15:15, these are some of the best fertilizers in Nigeria. We have already given the sample to the Nigerian government, they have already approved the two as the best in Nigeria. We are giving the farmers good products, that is the target of Rahamanniyya fertilizer that we can give the farmers pure fertiliser. Purity means what are the elements in the fertilizer, just like Urea. Urea must be pure, DAP must be pure, MOP must be pure and limestone should be pure. Nowadays in the market, we have seen so many varieties of limestones available. Those varieties, we have checked in our laboratory, but our limestone is the number one in the market. I challenged others to check the quality of the limestone we are using.

They can come to our plant and see our limestone granules name and they can check what is the property, what is the quality that we are using? We are using pure ground limestone, there is no dust, there is no mud. So, purity, we can say, is 100 per cent. If purity is there, that means it will yield more profit to farmers automatically. And my whole team is working according to that.

What is the cost of the project?

We have two lines of NPK. Two lines mean line one and line two. All the lines are designed for 60MT per hour. That means we can say one line has the capacity of 1,414. The two lines have the capacities of 2,818 MT per day. That means we are capable of producing 2,818 MT per day of NPK. After two lines of blending plants, we also have a limestone plant. The problem of limestone is dust. Our limestone plant has zero dust. That is why our fertilizer is very pure. We have two limestone plants. One plant is already commissioned and the second is almost at completion. Within two months, the project would be completed. After the competition, we can run four plants at a time.

How many metric tonnes can it produced per annum

We are producing 2,818 MT per day. So you can say 1,028,570MT per annum is our blending capacity and limestone capacity is 40MT per hour and if you calculate in 30 hours or 24 hours, we can say 800MT per day production for the limestone granules. This is the first plant in Nigeria with this capacity. Rahamanniyya

fertiliser is one of the biggest and highest capacity plants in Nigeria. It’s a huge production.

There are similar fertilizer plants across Nigeria, what would you say is the strength Rahamanniyya fertilizer has over others?

Actually in Nigeria, a lot of fertilizer plants are available. And for the urea, the Dangote fertilizer plant is also there in Lagos. Indorama ferterliser is in Port Harcourt, Rivers state and so many NPK plants are there. Dangote fertilizer is producing only urea. Indorama fertilizer is producing only urea. But we are mixing the fertilizer. What is the purpose of urea? Urea is giving nitrogen to the crops. But, we are mixing the fertilizer. That means we are giving nitrogen, ammonium phosphate (DAP), that means we are giving phosphate also (MOP), we are giving pottash also and we are giving limestone. That means we are giving nitrogen, phosphorus, potash and limestone. That is why I’m saying our fertilizer is unique.

With the Rahamanniyah fertilizer coming on board, do you think this is enough to stop Nigeria from importing fertilizer from other parts of the world?

Yes, that is a big problem we are facing in Nigeria. That we are importing fertilizer from abroad, that is not good because everything is available in Nigeria. Phosphate is available. Sokoto is rich of limestone

“The phosphate we are using as DAP. MOP, we can import from other countries, it’s okay. But other three products are also available in Nigeria. With Rahamanniyya fertilizer, Nigeria Will not dependent on the other countries because our product quality, our product capacity is already very high. It is sufficient for the Nigerian market.”

producing urea, so we are not depending on other countries for the urea, we are depending on our own. As a Nigerian team, I’m saying we are producing our own urea and after some time we are going to produce our phosphate also. Phosphate is also available in Nigeria. The phosphate we are using as DAP. MOP, we can import from other countries, it’s okay. But other three products are also available in Nigeria. With Rahamanniyya fertilizer, Nigeria Will not dependent on the other countries because our product quality, our product capacity is already very high. It is sufficient for the Nigerian market.

How does Rahamanniyya fertilizer benefit the farmers?

Initially, I told you that so many fertilizers are available in the market. And I have checked because we are in the market, we are competing in the market, some old fertilizers are also there and we are the new fertilizer. That is why we want to compete in the market. So, what we are doing, we are taking samples from other fertilizers companies and we are doing sampling in our own laboratory and we are comparing our products. We are comparing the standard of our product with others. And we found that our product quality is very high. If farmers are purchasing Rahamaniyya fertilizer, it will give them automatic benefits because other products in the market have a lot of dust and mud. There is too much dust in the fertilizer they are purchasing. If farmers are using the Rahamaniyya fertilizer, one bag of our product is equal to four bags of other fertilizer.

23 BUSINESSWORLD I N t ERv IEW tUESDay, Ma R ch 5, 2024 • THISDAY
— very huge quantity of limestone is available. Dangote and Indorama are Rathore

Obaseki Faults CBN on Interest Rate Hike, Warns of Tougher Times Ahead

Says Nigeria must focus on production, discourage dollarisation of economy

Edo State Governor, Mr. Godwin Obaseki, has predicted tougher times for the Nigerian economy, due to what he termed as the bad policy decisions of the federal government, even as he condemned the decision of the Central Bank of Nigeria (CBN) to increase the Monetary Policy Rate (MPR) to 22.75 per cent.

The Monetary Policy Committee (MPC) of the CBN had last week raised the MPR, also known as the benchmark interest rate by 400 basis points to 22.75 percent from 18.75 percent.

Obaseki, who spoke at the annual Edo Zone Bankers' Committee Dinner held in Benin City, Edo State, was quoted in a statement yesterday, to

way to “untie all the several nuts” that emerged as his organisation grew and flourished.

According to him, his family will continue to cherish the memory of the late Wigwe, stressing that he owed him a debt of gratitude. He added that both of them shared the character of “perseverance” in the face of discouragement.

Dangote described Wigwe as a soldier of courage, even though he was never in the military. Dangote said Wigwe’s capacity for concentration was extraordinary, stating that the late Access Bank CEO helped him in his businesses, especially his foray into oil and gas.

“I stand here today with a sense of profound loss, feeling of utter helplessness. I feel very helpless because I could not prevent the tragedy that befell my friend, brother, mentee and a very loyal friend for that matter,” he stated.

Dangote added, “To immortalise my beloved friend, my brother, and my mentee, I have actually decided to name our major refinery and petrochemical road. Out of the 120 kilometres, the biggest road will now be named Herbert Wigwe.”

Former President Olusegun Obasanjo and ex-American President Bill Clinton, were among a horde of mourners who yesterday paid glowing tributes to Dr. Herbert Wigwe.

Wigwe died on February 9 in a helicopter crash in the United States, along with his wife, Chizoba, and

despite near-term risks attributed to unfavourable global market conditions and increased debt burden since the COVID-19 pandemic.

Equally, yesterday, CBN adjusted the foreign exchange (FX) rate on Customs import duties to N1, 544.081 to a dollar, from N1, 630.159 to a dollar, representing a 5.3 per cent reduction.

However, Director-General of West African Institute for Financial and Economic Management (WAIFEM), Dr. Baba Musa, warned that Nigeria was at a high risk of debt distress given its current revenue challenges related to borrowing.

Cardoso and Musa spoke at the opening of the World Bank/ IMF/WAIFEM regional training on Medium-term Debt Strategy (MTDS), which was jointly organised by the parties.

Speaking at the occasion, the CBN governor said the external debt-toGDP ratio had been manageable at nine per cent, indicating cautious external borrowing.

Represented by CBN Director, Monetary Policy Department, Dr. Mohammed Musa Tumala, the apex bank boss pointed out that slow economic growth, elevated borrowing costs, constrained liquidity, and eroded reserves had frequently aggravated the precarious economic situation.

He explained that the developments also hindered government and private sector efforts to tackle economic downturns or fund initiatives that stimulate growth, which were essential for stabilising the debt-to-GDP ratio and achieving long-term debt sustainability.

have cited the potential adverse effect of the interest rate increase by the CBN on businesses and the nation’s economy, reiterating the need to focus on productive activities.

The governor said, “The next few months will be difficult because the policies rolled out by CBN will unfortunately not support growth in our economy. The interest rate is already high and jacking it up will not allow small businesses access to credit to make them grow.

“We must focus on the fundamentals which is increasing production, making sure our citizens produce what we consume and depend less on imports. Our economic and monetary policies should not be determined

son, Chizi.

Speaking at a special programme organised by the family, yesterday at Eko Hotel in Lagos, tagged, “Celebrating Herbert Wigwe – A Professional Legacy,” the colleagues and associates of the former Chief Executive Officer (CEO) of Access Holdings described him as an erudite banker, philanthropist, visionary leader, and legend.

In a video message, Tinubu characterised Wigwe as a distinguished banker and an entrepreneur, adding that his contributions to nationbuilding would be greatly missed.

Tinubu prayed for the peaceful repose of the departed and asked God to comfort the multitude of Nigerians who were grieving and the family of the deceased at this deeply agonising moment.

Obasanjo and Clinton described Wigwe as a top banker and entrepreneur, stressing that the country has lost one of the finest bankers in Nigeria, whose exemplary leadership led Access Bank to its present height.

In his condolence message read at the event, President Emmanuel Macron of France said, “Mr Wigwe worked tirelessly to strengthen the ties between France and Nigeria. France has lost a friend, Herbert Wigwe, the President of the French Nigeria Business Council. “A humanistic and talented entrepreneur. He tirelessly worked to strengthen the relationship between our two countries. Our heartfelt thoughts go to his family and

Cardoso said public debt dynamics were increasingly influenced by significant debt servicing obligations to non-Paris Club members and private lenders, including commercial banks and bond investors. He added that this shift in the debt structure represented a critical evolution in the global financial framework, with profound ramifications for public debt management in respective countries.

The central bank governor said following the COVID-19 pandemic, along with other developments, such as geopolitical conflicts and natural disasters, the financial strain on the sub-region had escalated, posing a threat to macroeconomic and financial stability and prospects for faster recovery.

Furthermore, he stated that to diversify their financing sources, some countries broadened their presence in international capital markets by issuing sovereign bonds and interacting with diverse private lenders.

Cardoso said there was also a noticeable move towards borrowing within domestic markets by issuing bonds in local currencies.

“However, these approaches have increased vulnerabilities, evidenced by payment delays, defaults, and the necessity for debt restructuring,” he said.

Quoting the latest World Bank/ IMF data, Cardoso said of the 69 Poverty Reduction and Growth Trust (PRGT) eligible countries, 13 remained in debt distress, with an additional 26 at high risk of debt distress. He added that these developments underlined a critical juncture in public debt management and the urgent need

by exchange rate alone.

“The issue of increasing the cash reserves in a bid to tighten liquidity is going to be detrimental to our economy. We should focus on fiscal issues to enable us to grow our economy, not panic about the interest rate. Creating jobs should be a priority for us as a nation.”

Commending the role of commercial banks in societal development, Obaseki tasked the banks to come up with products and services which can assist the majority of citizens in overcoming the harsh economic realities experienced nationwide.

He, however, reassured that his government would continue to partner with the financial sector to

cushion the effects of the present economic realities on the people of the State.

Noting that his government has over the last seven and half years undertaken several policies and programmes to reposition the State as a leading sub-national in terms of GDP growth, the governor reaffirmed his government’s commitment to the welfare of the people.

He said, “We have built institutions, empowered our people with skills, and ensured they are gainfully employed and seven years after, we are ranked as one of the top States in terms of GDP growth in Nigeria.

“I am here to thank you for collaborating with us to grow the

loved ones.”

Ogun state Governor Dapo Abiodun on his part, said Wigwe was a critical part of the development of Ogun State, adding that he was supportive of all the success stories

for comprehensive strategies to stop further progression into debt crises.

But Cardoso believed the MTDS was a significant aspect of the broader medium-term economic management and fiscal policy framework for Nigeria.

He said the primary goals of the strategy were to ensure that borrowing activities were conducted within sustainable levels, optimise the debt portfolio for cost and risk, and improve debt management

The statement read in part, “The point must be made that maintaining expatriates in Nigeria is expensive and as such our members only bring in expatriates for very critical roles that require highly technical skills that are not readily available locally.

“It is out of necessity that our members bring in expatriates and as such any imposition that makes this provision expensive will discourage them and jeopardise projects requiring such expatriates.”

Almona said while the chamber was “fully in support of government policies that enhance the profile of the business environment, generate more revenue for the government, and create more opportunities for local employment, we are concerned about likely perception by foreign investors that the Nigerian government is not accommodative to foreign workers. This perception is harmful to our drive for Foreign Direct Investments (FDIs) inflows”.

The statement also said with the drive for FDI, the country “needs conducive business environment

of his government. Abiodun stated, “I can’t thank him enough for supporting the dreams of the state. He was instrumental to the payment of salaries to private bond and projects of the state, such

capabilities.

According to him, the strategy aims to diversify funding sources through domestic and international borrowings, including issuing sovereign bonds and focuses on extending debt maturities from 10 to 30 years in domestic and international markets to lower refinancing risks and pressure on domestic markets.

He said the strategy remained the

Continued on page 29

to attract these kinds of investment into the country”.

It observed that only $184 million FDIs came to Nigeria in the fourth quarter of 2023 out of $1.088 billion capital importation that was recorded within the period.

The LCCI director-general called “on the government to consider exempting sectors that require unique skill sets for projects carried out in the country, especially in construction and other sectors where we have critical shortage of supply of goods to meet rising demand.

“In sectors where the country lacks capacity to boost supply of critical products, like food, cement, drugs, and other agricultural inputs, we urge the government to charge concessionary or totally exempt the manufacturers in these fields to encourage them to come in and boost supply of such scarce products.”

The chamber argued that the imposition of the latest sets of levies meant that expatriates would be subjected to two administrative

economy of Edo State in the last seven years. You have supported me to make progress this far.

“I thank each bank and management for taking advantage of the opportunities created in the last seven years, especially with our reforms and growth.

“In the last seven years, we have improved our security, ensuring our people walk freely as the ability to restore security gives confidence to our people who come back home to invest in our State.”

The governor further stated, “Before now, our young ones traveled at will to seek greener pastures but our administration in 2017 got the report about how desperate our

as the airport.

“The history of the state will not be complete without Herbert. I appreciate the speed of his trust in my government to hit the ground running. He was a different person to everyone, selfless and promisekeeping. God has called him and knows why He has called him to himself.”

Governor of Lagos State Babajide Sanwo-Olu said the banker was a friend and an adviser and promised to immortalise Wigwe’s memory in Lagos State. Sanwo-Olu stated that Wigwe was a generous supporter of public service. Sanwo-Olu said, “He always encouraged me with his words of support, and supported the state during Covid-19. He supported the plan for a greater Lagos. We must do something with that name on Lagos Island to immortalise the legacies and memories of Herbert Wigwe.

“I have lost a good friend and brother. Lagos will not forget Herbert Wigwe. His legacies will be immortalised.”

In his remarks, Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, extended condolences to the family of Wigwe, saying that he would forever remember his contributions at various meetings they had together. Cardoso sent his profound condolences to the Wigwe family and Access Holdings on the passing of the co-founder and Group Chief Executive, his wife, Chizoba, and son, Chizi.

He stated, “Today we gather to honour the life and legacy of a truly exceptional leader, Herbert Wigwe. As we come to terms with this loss, we must celebrate the life of a man who dedicated his life to service.

“Herbert played a pivotal role in transforming Access Bank into one of Nigeria’s foremost financial institutions. Herbert’s vision, diligence and commitment elevated Access Bank to a position of prominence not only within Nigeria but across the continent and the global financial arena.

“I will continue to value the

procedures of procuring the Combined Expatriate Residence Permit and Alien Card (CERPAC) permit and the EEL.

Almona stated, “From experience, having two procedures will mean more human interfaces, more bureaucracy, and more application costs.

“We recommend that the government continue to work with the already established and functional CERPAC with provision for yearly or regular reviews in rates according to internationally accepted rates. This way, we present our economy as open for business.”

LCCI said, otherwise, “The EEL may cause unintended consequences that may trigger the relocation of foreign companies to neighbouring countries that present a more conducive and less expensive environment for business.”

LCCI further warned that the federal government was courting retaliatory policies from other countries that would imperil diaspora remittances from Nigerians in foreign

youths are traveling out but we have changed the narrative.

“As I wind down as governor, I am leaving a strong State economically; agricultural production has been ramped up significantly. We are leaving a State that is the most digitally connected in Nigeria today as we have laid over 2,000km of fiber optic connection across the state and we have connected the 18 LGA and all your branches are well connected.

contributions made at our meetings and appreciate how insightful and thoughtful they were.”

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, also said he shared a personal connections with the deceased, highlighting Wigwe's role as a problem solver and philanthropist.

Edun said, “He (Wigwe) would always offer ideas to resolve financial issues of the moment, especially, since I became the finance minister. He still had time for philanthropy. He loved sports and education. He was a man with solutions. We met to resolve things around the Nigerian economy. It’s heavy for me without such pillar of support.”

President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, celebrated Wigwe's life, emphasising his determination, fearlessness, and instrumental role in shaping Access Bank's global prominence. Adesina described Wigwe as a visionary and brilliant banker.

In his tribute, Aigboje AigImoukhuede underscored Wigwe’s philanthropy, commitment to Africa, and concern for the nation's future. He noted the urgency of addressing challenges facing Nigeria and Africa.

The ceremony served as both a mourning and occasion for celebrating the late banker, with speakers pledging to ensure that Wigwe's legacy of excellence and innovation endured.

Wigwe took over as Access Bank’s Group CEO in 2014, focusing on the bank’s expansion in Nigeria and Africa before taking the helm at Access Holdings in 2022. Under his leadership, Access Bank drove its African strategy to become SubSaharan Africa’s largest retail bank by customer base.

A two-time winner of the African Banker of the Year award from the African Banker Awards, Wigwe was a passionate advocate of the United Nations Sustainable Development Goals (SDGs), which formed the bedrock of Access Holdings’ growth strategy.

lands, who would be the targets of such counter policies.

It said, “The imposition of this levy may likely spark retaliatory actions taken by other countries by imposing levies on foreigners and, particularly, targeting Nigerian workers. This will in turn affect diaspora remittances from Nigerian workers resident in other countries.”

The chamber said issues like the levies on foreign workers with tax implications would have been brought before the Presidential Committee on Fiscal Policy and Tax Reforms for inputs that aligned with their mandate of improving the business environment.

It stated, “There is also a need to align the provisions of this levy with existing frameworks, like the Nigerian Content Development and Monitoring Board (NCDMB), existing incentives granted to pharmaceutical companies by the National Agency for Food and Drug Administration (NAFDAC) and the Nigerian Civil Aviation Authority (NCAA).”

twenty-four 24 TUESDAY, MARCH 05, 2024 • THISDAY D A ngoT e I n Te A r S , nA me S r ef I nerY r o AD Af T er W I g W e LCCI: We A re Con C erne D A bou T L I ke LY Per C e PTI on fg I S n’ T ACC ommo DATI ve of f ore I gn Worker S C A r D o S o De C r I e S rISI ng gLob AL Pub LIC Deb T, S AYS nI ger IA ' S Sovere I gn o b LI g ATI on S S TA b L e
Obaseki Late Herbert Wigwe

AnnuAl Edo ZonE BAnkErs’ CommittEE dinnEr...

L-R:

EFCC Chairman: 70% of Financial Crimes in Nigeria Traced to Banking Sector

Urges chief audit executives to take lead in fraud prevention

Emmanuel Addeh and Folalumi

Alaran in Abuja

The Chairman, Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has disclosed that an estimated 70 per cent of financial crimes in Nigeria could be traced back to the banking sector.

Olukoyede, made this revelation during the 2024 Annual Retreat/ Conference of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) held yesterday

in Abuja.

With the theme of the event: “The Role of the Internal Auditor in Promoting Stability in the Financial Services Sector and National Economic Growth,” the EFCC boss who was represented by the Director Internal Audit EFCC, Mrs. Idowu Apejoye, emphasised the pivotal role of Chief Audit Executives in combating fraud within the banking sector.

He stated, “As Certified Bankers and professional auditors, you have

an important role to play in sanitising, stabilising and strengthening the financial services sector and by extension growing the commanding heights of our economy.

“In Nigeria particularly, the banking sector is increasingly becoming a cesspool of fraudulent activities and this is raising considerable challenge and concerns to the EFCC.

“Broadly speaking, banking fraud in Nigeria is both insider and outsider-related. The insider-related fraud comprises outright stealing of

customers' deposits, authorised loan facilities, forgery and several other kinds of unhealthy and criminal practices.”

According to him, the outsiderrelated ones include hacking, Automated Teller Machine (ATM) fraud, conspiracy, among others.

“And the absurd one is when there is collaboration between the both of them. It is estimated that about seventy percent of financial crimes in Nigeria are traceable to the banking sector, this scenario is disturbing and

Lawyers, CSOs, Others Seek Unbundling

unacceptable,” he added.

The EFCC Chairman further highlighted the multifaceted responsibilities of internal auditors in the financial sector, ranging from risk assessment and fraud prevention to enhancing operational efficiency. He underlined the importance of their role in providing strategic decision-making insights and promoting stability in the financial system.

He added: “The role of Chief Audit Executives in the fight against corruption is enormous. Every audit

of CJN's Office

Say transparency in judges' appointment will curb decadence in judiciary

Some Nigerians have called for the unbundling of the office of the Chief Justice of Nigeria (CJN) on the grounds that the occupant possesses "overbearing and ubiquitous powers" which could impact negatively on the judiciary.

This was part of recommendations contained in a communique issued at the end of a one-day conference on Judicial Accountability, organised by TAP Initiative with support from Open Society Foundations.

A former Justice of the Supreme Court, Rtd Justice Muhammad Dattijo, made a similar call, last November, while retiring from the bench of the apex court.

According to the retired apex court justice, the CJN being the Chairman of National Judicial Council, Federal Judicial Service Commission, National Judicial Institute and Legal Practitioners Privileges Committee, possesses overwhelming powers that could be abuse.

The conference which has at theme: “Impact of Judicial Accountability on Democratic Resilience and Public Trust in the Legal System,” had 540 participants drawn from judiciary, civil society actors, lawyers, university students, Embassies and High Commissions as well as other international development partners.

Amongst those who signed the communique issued yesterday, included J.S. Okutepa; Adamson Adeboro; Mbasekei Martin Obono; Victoria Benson and Lillian Okenwa.

The communique recalled that discussants, "questioned the overbearing and ubiquitous power of the Chief Justice of Nigeria on

the accountability structures of the Judiciary, especially the National Judicial Council, where the CJN almost single-handedly appoints all the members."

While claiming the situation as one of the greatest reasons for the dwindling trust Nigerians have in the judiciary, they said it would be difficult for the NJC to exercises disciplinary control over judicial officers if they were appointed by CJN.

Besides, the participants argued that haven been appointed by the CJN, the NJC cannot take any

disciplinary measures against the CJN if the need arises.

"That the office of the CJN should be unbundled especially as chairman of National Judicial Council, Federal Judicial Service Commission, National Judicial Institute and Legal Practitioners Privileges Committee," the communique read in part.

Also, the participants called for the strengthening of the NJC in order to hold judicial officers accountable, adding that the code of ethics for judicial officers by the NJC needed no review but proper political will by the CJN to investigate and sanction

SSANU: Gbajabiamila

erring judicial officers.

On the issue of appointment, the participants called for the strengthening of the integrity requirement of appointment of judges and make it more transparent.

According to them, transparency in judicial appointments has been, "identified as a veritable medium to curb the decadence in the judiciary," adding that transparency is necessary to achieve Judicial Accountability.

"The topical issue of nepotistic appointment of heads of courts was also raised and opinions seemed to be divided on its propriety. The

keynote speaker noted that there was nothing wrong with heads of courts appointing their family members into judicial offices so long as they meet the requirements.

"The question posed was whether merit and qualification alone is sufficient basis to appoint a family member or whether the underlying moral and ethical considerations make it inappropriate. A greater majority of panelists frowned at this practice and felt it infringed inalienable moral and ethical duties of the implicated heads of Courts", the communique read.

engagement promotes management of economic entities and the society as a whole. Globally, the most effective measures against financial practices are prevention strategies owing to their cost-effective benefits.

“The Chief Audit Executives should consider how risk of fraud is managed across the organisation and assess the fraud risk exposure periodically."

The Chairman of ACAEBIN, Prince Akamadu, on his part emphasised the need for introspection within the banking industry and a reassessment of its role in addressing challenges for economic growth.

Akamadu, in an interview on the sidelines, while responding to issues about cumbersome regulatory reporting processes, and how to address fraudulent calls claiming to be from banks and other related matters, reassured that disciplinary committees address staff involvement in fraud, emphasising the industry's commitment to maintaining its integrity.

“By the end of this retreat. We are expected to come up with a communique. And we hope to address some of the issues one way or the other that will address the role of banks in the challenges in this industry given that it is multi-faceted, there's no institution in any sector that has done more in the area of Know Your Customer (KYC) than the banking industry,” he added.

Authorised Payment of Withheld Salaries to Only ASUU

Union urges NUC to delist varsities not paying staff salaries

onyebuchi Ezigbo in Abuja

The leadership of the Senior Staff Association of Nigerian Universities (SSANU) has said that the payment of the four months withheld salaries to members of the Academic Staff Union of Universities (ASUU) to the exclusion of other university-based unions was due to a directive from the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila.

SSANU and Non Academic Staff Union of Educational and Associated Institutions (NASU) had expressed displeasure over the exclusion of their members in the payment of withheld salaries, adding government should extend the same gesture to their members.

In a statement titled: "Failure of the Federal Government to pay Outstanding Salaries to NASU

and SSANU members," the unions said based on the feelings of their members at various campuses, they could no longer guarantee sustained industrial peace in the universities in the country.

In the statement by the Joint Action Committee of both unions, signed by the General Secretary of NASU, Peters Adeyemi and SSANU President, Mohammed Ibrahim, the unions said they had earlier written a letter to the Chief of Staff to the President and Minister of Education on February 13, 2024, over the exclusion of non- teaching staff from the payment of outstanding four months salaries.

However, Ibrahim who addressed journalists in Abuja, yesterday, said the action was at variance with the order by President Bola Tinubu that four months of

withheld salaries of workers of the universities be paid.

"We discovered that the memo that was written by the Chief of Staff to the President to the Federal Ministry of Finance and subsequently copied the Accountant General of the Federation had only members of ASUU therein, so we were taken aback as to what happened to the president's approval and this is giving a lot of concerns to workers who are working in the same environment with their counterparts in the academic sector.”

When asked if the union would declare strike at the end of the 7-day ultimatum given to government, he said: “The NEC will meet to take decisions on whether to embark on strike or not and we are meeting in the next seven days.

“We also going to meet at the

level of the Joint Action Committee on SSANU and NASU to take a final decision on the issue because we can do longer continue to suffer while others are being treated differently."

Speaking on why the other university-based unions were excluded from the payment of the four months withheld salaries, Ibrahim said information at their disposal showed that there was a letter from the office of the Chief of Staff to the President specifically instructing the Federal Ministry of Finance to pay only members of ASUU to be paid four months of their withheld salaries.

He said the association had written to the Chief of Staff and Minister of Education two weeks ago to draw their attention to the issue but no reply had been

received.

"We have sent letters to the Chief of Staff to the President and Minister of Education and all were fully acknowledged but we are yet to get their response. We believe that the media will also serve as an avenue to further reach out to them so that they will correct the anomaly," he added.

Speaking on the poor funding of state universities in the country, Ibrahim said the current situation of most of state funded universities was very pathetic. He said universities located anywhere in Nigeria should be of similar standards anywhere in the world.

According to him, the concept of university education was universal and workers in universities were supposed to be of the standards.

NEWS
THISDAY • TUESDAY, MARCH 05, 2024 25
Mrs. Esther Mgbeze; Edo State Governor, Mr. Godwin Obaseki, and Branch Controller, Central Bank of Nigeria (CBN), Benin Branch, during the annual Edo Zone Bankers’ Committee Dinner in Benin City... at the weekend

SilvErbird Man Of thE yEar award...

Peter Obi: Ukraine’s Food-aid to Nigeria a National Disgrace

Calls for aggressive investment in agriculture, security, SMEs

Chuks Okocha and Sunday Ehigiator

The presidential candidate of Labour Party (LP) in the 2023 election, Peter Obi has described Ukraine’s donation of 25,000 tons of wheat to Nigeria as a “national disgrace,” which stems from years of leadership failure in Nigeria

Obi in a statement shared on his X handle yesterday, noted that aggressive investment in agriculture, security and small and medium-scale enterprises (SMEs) would help Nigeria overcome the embarrassments.

As part of efforts to tackle the emergency food crisis affecting over 1.3 million people in northeast Nigeria, Ukraine reportedly donated 25,000 tons of wheat to Nigeria at the weekend.

The development was said to bolster the United Nations World Food Programme (WFP) response in north-eastern Nigeria amidst inflation and food price spikes.

The contribution was also part of Ukraine’s humanitarian “Grain from Ukraine” initiative launched by President Volodymyr Zelenskyy.

The shipment was said to have been made possible through the

collaborative effort from the United Kingdom, Canada, Denmark, Finland, France, Luxembourg, Norway, the Republic of Korea and Sweden, which has helped cover the costs of transporting the wheat from Ukraine to Nigeria and its distribution to the families who so urgently need it.

However, reacting to this development, Obi wrote, “As laudable as Ukraine's kind gesture is, it speaks volumes for us as a people endowed with all needed human and natural resources, that a country officially prosecuting a brutal war of national survival with its powerful neighbour, Russia, is generous and kind enough with their food supplies to help us who are officially at peace.

“For the people of Ukraine, this act of human solidarity testifies to a rare generosity of spirit which should earn them greater global solidarity. It demonstrates our shared humanity.

“However, a situation like this underscores vigorously the importance of sound political leadership as the first concrete requirement for any nation desiring to develop and enhance the standard of living of its citizenry.

“It is disheartening that our once economically confident nation,

blessed with vast arable land and abundant natural resources, now relies on a war-torn Ukraine for food assistance.

“This national disgrace stems from years of leadership failure, necessitating urgent reflection and a reordering of our national priorities and resource management and allocation.

“Instructively, Ukraine, with a population of 43 million on 603,728

km2, outshines Northern Nigeria, covering 744,249 km2 with a young, energetic population exceeding 100 million.

“In 2015, Ukraine's GDP per capita was $2125, compared to Nigeria's $2680. By 2022, despite being at war, Ukraine's GDP per capita exceeded $4000, while Nigeria's regressed to $2184.

“Ukraine cultivates over 60 per cent of its arable land, whereas

Nigeria has over 60 per cent uncultivated arable land. Despite the conflict, Ukraine feeds itself, and exports agricultural products worth over $25 billion which is about the same value as our crude oil export earnings, and it serves as a strategic global food supplier, even providing aid to a peaceful yet unproductive Nigeria.

“To overcome this embarrassment, we must aggressively

reorder our priorities by investing resources in productive sectors like agriculture. Addressing insecurity is crucial for farmers to return to their fields, enabling a productive manufacturing sector and supporting small businesses.

“In four to five years, this concerted effort can reverse the current trend, leading us toward a productive and New Nigeria that I believe is possible and within reach.”

FG Commits to Address Challenges of Nigerians in Ghana

Michael Olugbode in Abuja

The Nigerian government has given assurances to Nigerians living in Ghana of renewed engagement, dedication and commitment to addressing a plethora of challenges confronting them.

The assurances were given by the Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), Hon. Abike Dabiri-Erewa at a town hall meeting with Nigerians in Ghana on the sidelines of the African Diaspora Forum (DAF)

Award 2024 in Accra, Ghana.

The NIDCOM boss while clarifying one of the many questions bordering on the recent relocation of the Commission to the Ministry of Foreign Affairs; explained that the Commission is already part of the Ministry of Foreign Affairs, and its operations have been seamless.

She also suggested that the integration into the Ministry could strengthen the Commission and enhance engagement because it will now be an agency.

Other questions asked by par-

ticipants included the very high residence permit fees charged in Ghana, influx of trafficked underaged girls and boys, the status of Nigerian traders in Ghana, the need to have a comprehensive list of accredited universities to prevent Nigerian students from being victims of unapproved universities and many others.

They also commended the Minister of Interior, Hon. Olubunmi TunjiOjo for his innovations in passport application processes.

Dabiri-Erewa also provided

PDP NEC Meeting: Court Adjourns Sowunmi’s Suit against PDP Till March 18

Chuks Okocha in Abuja

Justice Mobolaji Olajuwon of the Federal High Court in Abuja has adjourned until March 18, a suit filed by a chieftain of the Peoples Democratic Party, (PDP), Otunba Segun Sowunmi against the Damagun-led party for not convening a National Executive Council (NEC) meeting within the constitutionally stipulated period.

Sowunmi filed the legal action, seeking an order to compel the party’s officials to convene a NEC meeting and a restraining order preventing the party and the Independent National Electoral Commission, (INEC) from further delays.

The plaintiff is also asking the court to note that a party must obey its own constitution, saying that a party which disobeys its own constitution ought to be proscribed.

When the matter came up on Monday, lawyer to Sowunmi, Mr. Anderson Asemota, told the court that all parties in the suit had now

been duly served. Asemota also informed the court that he had received the counter affidavit from the defendants challenging the motion filed by the former Jigawa State Governor, Sule Lamido, to be joined in the suit. The lawyer said that he tried to file his response against the counter affidavit before the next adjourned date but it was not possible.

Asemota therefore prayed the court for a short adjournment to enable him peruse the counter affidavit and respond appropriately.

Responding, lawyers to the defendants did not oppose the application for an adjournment. Justice Mobolaji Olajuwon consequently adjourned the matter till March 18 to hear all applications filed in the suit as well as the substantive matter.

Speaking to the legal action, Asemota said that some of the grounds on which the defendants were opposing the motion for joinder were that Lamido was not a necessary party in the suit.

He added that the defendants claimed that Sowunmi alone was sufficient enough to handle the matter and that moreover, he was not a NEC member.

Sowunmi had filed the matter against the PDP, its Acting National Chairman, Umar Damagun, National Secretary, Mr. Samuel Anyanwu and the National Organising Secretary, Mr. Umar Bature to court seeking an order to compel them to convene the NEC meeting.

Other defendants in the suit are the National Auditor, Mr. Okechukwu Daniel the National Treasurer, Mr. Ahmed Yayari and the National Youth Leader, Mr. Muhammed Kadade and INEC. Sowunmi is insisting that the NEC meeting be convened for the purpose of presenting the activities of the party from the date of the last NEC meeting.

In the instant suit, the plaintiff is seeking an order of perpetual injunction restraining the 2nd to 8th defendants and their agents from functioning or continuing to

function or discharge the functions of their offices.

This he said was until they called for or caused to be called and held, a meeting of the party’s NEC in total fidelity and obeisance of the party’s constitution.

The plaintiff also wants the court to declare that by virtue of the provisions of Article 31(2)(d), 4 and 5 of the PDP constitution (as amended in 2017), he, as spokesman of the party during the last election is obligated and/or entitled to file the suit to give effect to the aims and objectives of the PDP and to ensure that the provisions of Article 7 of the PDP constitution are observed and respected by members and national officers.

Sowunmi is also seeking for, “A declaration that under and by virtue of the provisions of Article 31 (2) (4) and (5) of the PDP constitution and Section 82(1) of the Electoral Act, 2022, the 1st to 7th defendants are obligated to call or cause to be called and held quarterly or at the

request of one-third of members of NEC of the PDP, the meeting of the NEC of the PDP at which the 1st to 7th defendants shall be present quarterly financial reports or income and expenditure of the party to the members of the NEC.

“A declaration that, under and by virtue and the provisions of Article 31 (2)(4) and (5) of the PDP constitution and Section 82(1) of the Electoral Act, 2022, the 1st to 7th defendants are obligated to call for or cause to be called and held quarterly or at the request of the one-third of members of the NEC of the PDP at which the defendants shall present quarterly reports containing the activities of the PDP to the members of the NEC”.

He also wants the court to declare that, “The defendants are under obligation to call for PDP NEC meeting to present proposed guidelines and regulations governing the conduct of elections to the party offices at all levels and procedures of selecting party candidates for elective offices to the NEC members.

insights into NiDCOM’s programmes such as the forthcoming launch of the Diaspora Housing Mortgage Scheme scheduled for April.

She emphasised that the federal government, through the Federal Mortgage Bank, will offer a N50 million naira mortgage to support home ownership in Nigeria for citizens residing abroad.

She explained that: “This initiative aims to empower Nigerians abroad to own homes in Nigeria, excluding Lagos and Abuja, at favourable rates.”

Dabiri-Erewa highlighted other NiDCOM initiatives such as the Diaspora Investment Summit, Diaspora Quarterly Lecture, National Diaspora Day, and National Diaspora Merit Award, as a platform to address the challenges encountered by Nigerians residing in Ghana.

In his remarks, Ambassador Usman Aliyu Bakori, Head of Mission expressed appreciation to the Chairman for prioritising Diaspora issues and for promptly addressing their concerns whenever called upon.

He also welcomed the housing scheme proposal, stating, "We value your insights. Nigerian citizens in Ghana abide by the law. While we face occasional challenges, we strive to manage them. We appeal to the federal government for financial support, especially considering the fluctuating exchange rates affecting our operations in Ghana."

He emphasised the importance of devising strategies to facilitate traders' ownership of shops and properties without encountering harassment.

The meeting witnessed presentations from various groups in Ghana, including the Igbo, Yoruba and Arewa groups, Students’ Union, Traders’ Union, Professionals, and other associations.

26 TUESDAY, MARCH 05, 2024 • THISDAY NEWS
L-R: Former Governor of Ogun State, Chief Olusegun Osoba; wife of the Governor of Ogun State, Mrs. Bamidele Abiodun; Governor Dapo Abiodun (winner of the Silverbird Man of the Year Award); Deputy Governor Engr. Noimot Salako-Oyedele; husband of the Deputy Governor, Bode Oyedele, and the CEO of Silverbird Organisation, Sen. Ben Bruce, at the Silverbird Man of the Year Award held at Eko Hotel and Suites Victoria Island, Lagos, on Sunday night.

TEACHERS' TRAINING ON SMART EDUCATION FOR EFFECTIVE SCHOOL PROGRAMME...

Idahosa Wants INEC to Uphold APC Primary of February 17 That Produced Him as Flagbearer

Adibe Emenyonu in Benin City

The member, representing Ovia Federal Constituency, Edo State, in the House of Representatives,

Mr. Dennis Idahosa, has called on the Independent National Electoral Commission (INEC) to uphold the primary that produced him as the governorship

candidate of the All Progressives Congress (APC) in Edo State. Idahosa was declared candidate of Edo APC in the primaries held on February 17 before it

was declared inclusive following protest by some party members.

However, in a shadow exercise, held on Thursday, February 22, the Senator representing Edo

Alleged Fraud: Former Anambra Governor, Obiano Challenges Prosecution in Abuja

The immediate past governor of Anambra State, Chief Willie Obiano, has challenged his trial at a Federal High Court in Abuja, for a crime allegedly committed in Anambra State.

Obiano subsequently asked the court to decline jurisdiction and to direct the Economic and Financial Crimes Commission (EFCC) to shift the prosecution of the criminal matter to the appropriate place in Anambra.

The former governor who served two terms in Anambra State was arraigned before the court over alleged embezzlement of state funds amounting to N40 billion.

At the resumed trial on Monday, lawyer to the anti-graft agency, Mr. Sylvanus Tahir, SAN, told the court that he had three witnesses to present against the governor.

But the defendant's lawyer, Dr Onyechi Ikpeazu, SAN, stood up and told the judge that he had filed a motion challenging the jurisdiction of the court to conduct the trial in Abuja.

Ikpeazu insisted that the appropriate place to determine the money laundering charges instituted against his client must be considered and resolved before any trial could com-

mence. He asked the court to exercise its discretion to determine his motion first before the commencement of any trial.

The EFCC lawyer, Tahir confirmed to the court that the defendant served him with the said motion on notice.

"This is a blatant waste of time," Tahir contended but Justice Inyang Ekwo interjected and asked him to allow the court to decide the motion on its merit.

Subsequently, lawyers agreed to return to the court on Thursday and exchange processes relating to the motion on notice.

Justice Ekwo thereafter adjourned the matter to March 7 for motion on notice to be determined.

Part of the charge read: "That Chief Willie Maduabuchi Obiano, whilst being the executive governor of Anambra State between March 2014 - March 2022, sometime between August 9, 2017 to March 4, 2020 in Abuja, within the jurisdiction of this Honourable Court, indirectly transferred through Mr. Willie Nwokoye, your then Principal Private Secretary, the sum of N261,268,585.00 only from the Anambra State Government Security Vote Account into the account belonging to Easy Diamond Integrated Link (an entity that had no business relationship with the

Anambra State Government), which funds were dissipated for purposes unrelated/unconnected with the security affairs of Anambra State, which you reasonably ought to have known that such funds formed part of the proceeds of your unlawful act,

to wit: (Stealing and Corruption) and you thereby committed an offence contrary to Section 15 (2) (b) of the Money Laundering (Prohibition) Act, 2011 (as amended) in 2012 and punishable under Section 15 (3) of the same Act."

Central District in the Senate, Senator Monday Okpebholo was named candidate of the party.

However in a letter to the Chairman of the INEC, by his legal firm, Wole Olanipekun & Co and dated March 4, sighted by THISDAY, Idahosa maintained that the primary conducted by the party and duly monitored by the Commission, remained the authentic primary of the party. He described the other primary conducted on the 22nd of February where he was allotted 6,541 votes as a charade and urged INEC to disregard same.

According to the attached documents to the letter, Idahosa said: "The record of INEC/the Commission will show that, under your leadership, the Com-

LEADERSHIP Awards Highlights Solutions to Nigeria’s Economic Crisis

This year’s edition of LEADERSHIP Conference and Awards scheduled to hold tomorrow at the Congress Hall of Transcorp Hotel Abuja would highlight insights and highlight solutions to Nigeria’s current economic challenges.

Themed, “An Economy in Distress: Which Way Forward?”, the Keynote Speaker and Chairman of the African Private Sector Summit, Professor Kingsley Moghalu, is expected to examine how Nigeria got into its current difficulties and options for recovery.

Among the distinguished guests expected to attend the event are renowned economists, policymakers, and industry leaders, all poised to lend their expertise and experiences

to the discussions.

According to the management of LEADERSHIP newspaper, the conference comes at a critical time as Africa’s largest economy grapples with hyperinflation, unemployment, and sluggish growth.

Providing insights to his lecture, Moghalu said, “In my own view, I don’t think we should waste this crisis. As difficult as it is right away. People are hungry, people are angry. What’s the way forward? I am sharing my thoughts. I hope that you will join us at this great event.”

He promised to interrogate the economic crisis facing Nigeria and how the country should take advantage of this crisis to fix the economy for good.

President Bola Ahmed Tinubu, the “Person of The Year”, who won the award for bracing monumental odds to clinch the APC presidential ticket and subsequently went ahead to win the keenly contested election, is expected to attend.

Other dignitaries expected are Labour Party’s presidential candidate, Mr. Peter Obi, who jointly won the “Politician of the Year Award”, with Senator Natasha Akpoti-Uduaghan; governors; ministers; heads of parastatals at the federal and state levels; captains of industry and the services sector; art curators; and sports administrators; members of military and paramilitary agencies; and members of the diplomatic corps.

mission monitored the Edo State APC primary election for the nomination of the Governorship candidate of the APC pursuant to the prior notification that the primary election will specifically hold on 17th of February, 2024.

"The primary election was indeed held, and I garnered 40,453 votes, a copy of the result certified by INEC is attached herein with this letter.

"INEC’s report of monitoring the election confirms that, at the end of the process, I was returned as the duly elected candidate of the APC, a copy of the INEC report as certified by the Commission is attached.

"The APC primary election committee that conducted the election also confirmed that I won the election as evidenced by a report signed by all members of the committee (without a single instance of dissent).

"The APC subsequently confirmed to INEC that the primary election held as scheduled on 17th February, 2024; however, without giving any reason, indicated that the election was inconclusive and will be completed on 22nd February, 2024 and invited INEC to monitor the completion exercise."

Idahosa asked the Commission to take cognizance of the February 17th primary in accepting and publishing the party's nominated candidate for the Edo State governorship poll slated for September.

"The Commission will also appreciate that there are pending reliefs for injunction and is urged not to take step that will either preempt the court of prejudice of ongoing judicial process," he declared.

Bill, Melinda Gates Foundation Commits $6m to African Water Facility for Urban Sanitation

Ugo Aliogo

The Bill and Melinda Gates Foundation has committed $6 million to the African Water Facility, to support the operationalization of the Africa Urban Sanitation Investment Initiative (AUSII) – a new financing window dedicated to improving sanitation in African urban cities.

In a statement, it was noted that the African Water Facility, a special project preparation fund established as an initiative of the African Ministers Council on Water (AMCOW), is hosted and managed by the African Development Bank.

The statement also noted that the Africa Urban Sanitation Investment Initiative would come as a response to improve urban access to safely managed sanitation in Africa, which is rapidly urbanizing at a present rate of 47 percent.

The statement remarked that across the continent, the percentage of the population with access to at least basic sanitation is below 45 percent, and around 10 percent of urban premises are served by sewerage systems, with 90 percent served by non-sewered sanitation.

The statement further explained that the initiative would aim to respond to this challenge by using

innovative financing approaches to support the deployment of climate resilient and inclusive urban sanitation services including the City-wide Inclusive Sanitation (CWIS) approach, which promotes tailored sanitation solutions such as onsite, and decentralized sanitation for cities and neighbourhoods.

The statement revealed that the initiative would support African governments, utilities, municipal authorities, private sector, and civil societies to create and scale access to sanitation that is safe and sustainable with special consideration for the urban poor.

According to the statement, “In

2018, the African Water Facility and the Bill and Melinda Gates Foundation signed an initial contribution agreement of $14.5 million to pilot CWIS through feasibility studies and design in seven countries – Uganda, Kenya, Zambia, Ghana, Mauritania, Cote d’Ivoire and Togo.

“This resulted in the development of urban sanitation service projects in these cities with an estimated downstream investment of $500,000 and outcomes that include improved and inclusive on-site sanitation, faecal sludge management, development of sanitation masterplans and investment planning.”

The Coordinator of the African Water Facility, Mtchera Chirwa, said: “We are delighted to be setting up the new urban sanitation dedicated financing window within the African Water Facility. We value the strong partnership that we hold with the Bill and Melinda Gates Foundation and this commitment will allow us to allocate more resources for innovative solutions aimed at improving urban sanitation in African countries.”

The statement argued that African Urban Sanitation Investment Initiative would provide support for preparation of CWIS projects, technical assistance, catalytic invest-

ments, and investment promotion. The statement disclosed that in the first 10 years of operation, it aims to mobilize $320 million for operations, $7 billion in investments, and 10 percent investment finance from climate finance sources, adding that it targets up to 50 projects with benefit to an estimated 15 million people.

The statement added: “The Africa Water Facility is the only African project preparation Facility solely focused on addressing water and sanitation issues in Africa. To date, the Facility has financed 138 water and sanitation projects in 52 African countries.”

NEWS THISDAY • TUESDAY, MARCH 05, 2024 27
L-R: Trainee from Muslim Primary School Isoku, Ogun State, Ayodele Fausat; Lecturer, Department of Human Kinetic and Health Education, Bayero University Kano, Prof. Yazid Ibrahim; National Coordinator, Digital Resource Center, UBEC, Prof. Bashir Galadanci; Head, Capacity Development, UBEC, Dr. Hafsat Kontagora and Trainee, Yusif Abba, during the Basic Training for 109 Teachers on Smart Education for Effective School Program (ESP) held in Abuja... yesterday PHOTO: ENOCK REUBEN

Governor BaGo's courTesy vIsIT To The Federal MInIsTry oF aGrIculTure...

Transcorp Power Lists Shares Valued at N1.8tn on NGX, Targets N500bn Annual Revenue by 2031

Kayode Tokede

The Power subsidiary of the Transnational Corporation Plc, Transcorp Power Plc, yesterday listed by way of introduction 7,500,000,000 ordinary shares of 50 kobo each at N240.00 per share on the mainboard of the Nigerian Exchange Limited (NGX).

The listing represents N1.8 trillion by market capitalisation of shares on the floor of the NGX.

The power generating company was the second most traded stock on the exchange on the day, trading 40 million volume and N10.56 billion by market value to close to N264.00 per share.

The Chairman of Heirs Holdings, Transcorp, United Bank for Africa, Mr. Tony Elumelu joined other capital market stakeholders at the ‘’Facts Behind the Listing” and Closing Gong Ceremony of Transcorp Power ceremony on the floor of the Exchange.

Speaking at the Facts Behind the Listing event, the Managing Director, Transcorp Power, Peter Ikenga, stated that the strategic objectives of the company is to be a leading power company with an annual revenue in excess of N500 billion by 2031.

On other strategic objectives, he added that Transcorp Power will be a leading power generating company in Nigeria and generate a consistent, safe and sustainable manner and becoming the preferred choice for all stakeholders.

Part of the key pillars, according to him are: Diversified energy mix, including renewables and off-grid solutions, capacity recovery & plant expansion, increased footprint in

international electricity markets, and significant market share in Nigeria.

He revealed that Transcorp Power, a generating company in Nigeria has an installed capacity of 972 megawatts.

“Our power plants are located at Ughelli in Delta State. We have 18 gas turbine units installed in the plants. Today, we're proud to say that we power 10 million homes, industries, schools, hospitals and truly made an impact on the economy in Nigeria,” he said.

He stated that Transcorp Power presents a unique opportunity in Nigeria’s power generation subsector, which is pivotal to the country’s economic growth.

On Transcorp Power’s value proposition, he said that as a leading thermal power generating company in Nigeria with a 972MW capacity, TPP accounts for 7 per cent of Nigeria’s power generation capacity, yet currently generates 10 per cent of Nigeria’s power with existing assets, with capacity to contribute further.

“We have a very solid operational track record and continue to make investments to improve our operations to have a fully automated plant, digital and strong safety record as well.

“Our board and management team are very strong, stable, dynamic, visionary, and poised to truly transform the sector as opportunities continue to unfold.

“Our financial performance has been consistent, and stable. If you look at our performance over the last five years, you'll notice that we have compounded annual growth

rate. We have grown revenue over 20 per cent compounded annual growth rate and we also grow profit by 40 per cent within the last five years,” he stressed.

On his part, the Group Chairman, NGX Group, Dr. Umaru Kwairanga stated that the listing of Transcorp Power makes it an historic day for capital market community as the company listed in excess of N1 trillion in market capitalisation on the main board of NGX.

According to him, the listing of Transcorp Power’s 7.5 billion shares is a testament to the resilience, innovation, and excellence within Nigeria's power sector.

“It also underscores NGX's pivotal role in driving economic growth and development in our nation. We as an exchange are determined to

ensure that all sectors of Nigeria’s economy are fully represented on NGX and that the transparency, sustainability, ethical values, and private sector dynamism that drives the exchange drives the economy.

“With a market capitalisation exceeding N1 trillion, Transcorp Power's entry into the public market represents a significant milestone, highlighting the increasing confidence and maturity of our capital market. It is a clear signal of the transformative journey our energy sector has embarked upon, thanks to the Electric Power Sector Reform Act and subsequent market liberalisation,” he added.

He noted that the success of Transcorp Power is a testament to the visionary leadership of Elumelu, whose strategic investments have

not only elevated the company but have also set a new standard for excellence in the capital market and beyond.

“His leadership serves as an inspiration to us all, showcasing the impact that visionary leadership and innovative thinking can have on an enterprise and an entire industry. I also commend the management of Transcorp Power as their dedication and commitment to operational efficiency and innovation is evident in the remarkable achievements of the organisation,” he added.

The acting Chief Executive, NGX, Mr. Jude Chiemeka said Transcorp Power’s listing is meant to boast a remarkable market capitalisation by over N 1 trillion, which is a notable event, marking the first listing of the year.

He emphasised that this underscores the pivotal role the NGX plays in shaping economic landscape and highlights the exchange's significance and contribution to the Nigerian economy.

“The listing of Transcorp Power Plc (TPP) exemplifies our belief that the NGX serves as a viable platform for the privatisation of energy companies, driving efficiency, innovation, and sectoral growth,” he said.

He added that Transcorp Power has been at the forefront of power generation, leveraging its status as the largest gas-powered generating station in the nation.

“The impact of TPP extends far beyond the borders of Nigeria, shaping the energy landscape across the African continent,” Chiemeka said.

Burial Rites of Asagba of Asaba to Commence May 27

The burial rites of the Asagba of Asaba, Prof. Chike Edozien, will commence on May 27 with a homage to the Asagba, a joint statement by the family of the deceased king and the palace stated yesterday.

Edozien, the statement said, was an icon in the academia, the medical profession in Nigeria, and in traditional affairs.

“Burial rites in Asaba, Delta State, Nigeria will commence with homage to Asagba from 27–28 May 2024, an event of songs and tributes on May 30, a memorial mass and reception on May 31, 2024 and traditional burial ceremonies on June 1, 2024

” the joint statement said.

According to the release, Edozien was the longest surviving professor in Nigeria, being the 4th professor in Nigeria on his appointment as professor of medicine in 1961.

He was the first indigenous Dean of the faculty of medicine of the University College, Ibadan (now University of Ibadan) and contributed to the elevation of Physiotherapy and Laboratory Science as degree courses in Nigeria, it added.

The late Asagba served as Chancellor of the Federal University of Agriculture, Abeokuta for 13 years

N’Delta Group Kicks against Shell’s Divestment Plan, Insists on Remediation

Blessing Ibunge in Port Harcourt

An indigenous group under the aegis of the Forum Against Niger Delta Exploitation (FANDE) has kicked against the planned move by Shell Petroleum Development Company (SPDC) to sell off all its onshore oil assets in the Niger Delta region.

The group in a statement signed by its spokesperson, General Gboloko, insisted that before divestment, the Dutch oil giant must ensure a proper remediation of the Niger Delta environment.

The indigenous group led by Henry Okah, stated: "We shall not sit and fold our alms to allow Shell sell off all of its oil assets within the Niger Delta territory to their

cronies in the name of a certain consortium of five companies, leaving the host communities as the biggest losers after years of suffering from impact of environmental degradation, unemployment, poor or no infrastructure and others.

"We have been quiet all these years with regards to issues about Niger Delta for obvious reasons, given the incarceration of our leader in faraway South Africa; but now, has been given the mandate by him to speak and act henceforth."

The group said that having carefully reviewed the latest development, as well as Shell's over six decades period of operation in Nigeria, especially within the Niger Delta territory, they therefore have found it necessary to speak with regards to the issue at hand.

According to the group, the planned move by Shell has exposed the depth of inhumanity of the multinationals operating in the Niger Delta region and further shows that they has learnt nothing despite their conflicts with some of its host communities in the Niger Delta especially in Ogoni land, and recently in three communities of Kula Kingdom in Akuku-Toru LGA of Rivers State.

"To this end, the Forum Against Niger Delta Exploitation will resist the further moves by Shell or any other oil multinational to continue the trend of exploiting and enslaving our people or the degradation of our territories without any tangible benefits, infrastructural or human capital development of the Niger Delta

people and communities," the group said.

In the statement made in Port Harcourt, the group demanded that Shell should give a first right of refusal to divest some of its assets to indigenous firms whose operational bases are within the catchment areas where the SPDC's assets are situated in the Niger Delta.

They listed some of the indigenous firms to include: Century Energy, Fenog Nigeria Limited, Belema Oil Producing Limited, and any other indigenous firm which has proven themselves fit to earn the trust of its host communities and is qualified to handle the facilities and convert same for the economic benefits and transformation of the areas.

and, until he joined his ancestors was the Chancellor of the Federal University, Gashua in Yobe State. He was also the chairman of the Committee under the late Maj. Gen. David Ejoor, Military Governor of the Midwestern Region, that planned the establishment of the University of Benin.

According to the release, Edozien was a former chairman of the Governing Board of the Nigeria Institute of Medical Research, Yaba (1990-1991) amd served on a number of key institutions in the medical field for Nigeria, including the Nigerian Medical Association (NMA) and others.

“His reputation as an academic and scientist was also international, having been a lecturer at the University of London, a professor at the Massachusetts Institute of Technology and Chairman, Department of Nutrition, School of Public Health at the University of North Carolina, Chapel Hill, USA. “Asagba was an example that modernity, democratic governance, western education and traditional values can co-exist for development and the good of the people of Nigeria,” it added.

The late Asagba, the statement said, is survived by his wife of 70 years Agu Nwanyi, Clara Modupe Edozien; five children (Joseph Jr, Anthony, Valerie, Louis and Ngozi), numerous grandchildren, siblings, nephews and nieces. Those who wish to send condolence letters, messages or tributes, it said, should do so through info@asagbaofasaba.com

or online at www.asagbaofasaba. com, it stressed .

Edozien recently died at the ripe age of 100 years and was the 13th Asagba of Asaba who ascended the throne of his forefathers as the Asagba of Asaba on July 1, 1991.

Edozien’s impact, the statement said, went well beyond academia and medicine as he served his community and the country in various capacities.

“ In 1990 Edozien was appointed the Chairman of the Nigerian Institute of Medical Research. Shortly thereafter he was selected to become the 13th Asagba of Asaba. He therefore retired as a Professor Emeritus of the University of North Carolina and returned to Nigeria in 1991 to serve his community and country.

“Edozien's tenure as the Asagba of Asaba coincided with dramatic changes in the character of the town which is now a significant capital city. When the government of President Ibrahim Babangida created Delta State out of the old Bendel State, Asaba was chosen as the capital city.

“ Its new status as the seat of the state government has brought much of the chaotic development associated with contemporary Nigerian urbanisation. The population of the town has grown and the influx of non-Asaba indigenes has strained the traditional institutions of the town,” it said.

Additionally, it said Edozien was known to be a significant advocate of women and their rights and their positive impact in commerce, governance, and many professions.

28 TUESDAY, MARCH 05, 2024 • THISDAY NEWS
L-R: Minister of State of Agriculture and Food Security, Senator Aliyu Sabi Abdullahi; Governor of Niger State, Mohammed Umar Bago and Minister of Agriculture and Food Security, Senator Abubakar Kyari, during the Governor's courtesy visit to the Federal Ministry of Agriculture and Food Security in Abuja.. recently

Revised editiOn Of the 2023 senAte LegisLAtive AgendA...

Obi Hails Obasanjo as True Patriot at 87

Chuks Okocha in Abuja

The Presidential Candidate of the Labour Party, Mr Peter Obi, has felicitated Nigeria's Former President, Olusegun Obasanjo, on his 87th birthday.

Obi who joined President Obasanjo in his Birthday Thanksgiving Service at The Chapel of Christ

The Glorious King, OOPL, Abeokuta to mark the commencement of his 87th birthday celebrations, described Obasanjo as a true patriot whose ultimate desire is the development and progress of our nation.

A statement by Dr. Yunusa Tanko, Chief Spokesperson of the Obi/Datti Campaign Organisation said that Obi was delighted to celebrate the revered Nigerian leader due to his

many contributions to the nation.

According to Obi, "I was delighted to celebrate with this very revered Nigerian who has contributed immeasurably to the growth of our nation. His love for the nation is very evident in his firm commitment to the unity and peace of our dear nation.

"President Obasanjo remains a true leader who not only engineered so many positive transformations in our nation but left behind a sound economic foundation, which if we have followed, we would not be in the sorry state we are today,."

Obi eulogised Obasanjo for remaining active in the collective work of nation-building. He noted that Obasanjo has continued to contribute, by words and actions, to

the struggle for good governance in Nigeria.

"With our dear nation, going through very challenging times, occasioned by leadership failure, President Obasanjo has continued

to courageously add his voice to demand good governance in the country. He not only speaks, but he takes action to ensure that our nation is saved from further chaos. "As a father figure, he has

continued to inspire and mentor the younger generation in transformational leadership. I am delighted to celebrate him today," Obi enthused. He prayed to God to grant

Obasanjo more healthy and fruitful years, as he continues to play his part in the development of the nation, through his immeasurable contributions, while wishing him a happy 87th birthday.

FCTA Set to Establish Police Posts in All Government-owned Food Stores

Olawale Ajimotokan in Abuja

Minister of State, Federal Capital Territory (FCT), Dr. Mariya Mahmoud, has rebuked the suspected hoodlums who looted a warehouse in Gwagwa-Tasha on Sunday, saying

PDP Releases Timetable, Schedule of Activities for Ondo Guber Poll

Chuks Okocha in Abuja

As Peoples Democratic Party (PDP) stakeholders meet Tuesday to strategise on the Ondo state governorship election, the National Working Committee (NWC) of the party has released its timetable and schedule of activities for the state governorship election scheduled to hold on November 16, 2024.

The National Organising Secretary of the party, Capt. Umar Bature (rtd) signed the document which was on display on a notice board at the party’s national headquarters, Wadata Plaza, in Abuja, yesterday.

According to the timetable, the party’s governorship primary will be held on Thursday, April 25, 2024.

Prior to this, a series of activities are to take place, beginning with an interactive meeting between critical stakeholders and the NCW on Tuesday, March 5, 2024.

The sale of expression of interest, nomination forms is scheduled to hold as from March 7 – March 21, while March 25 is the deadline for the submission of completed expression of interest and ad-hoc forms.

All governorship aspirants will undergo a mandatory screening exercise at the party’s national secretariat, in Abuja, on March 27. The report of the screening exercise is expected to be submitted by the committee in charge on March 29.

THE PDP also scheduled the appeals on the screening exercise for April 2, 2024, while the ward congress to elect the three-man ad-hoc ward delegates will take place between April 6 – April 7, with the ward congress appeals scheduled for April 10.

The guidelines also stated that the certification of the deputy governorship candidate by the NWC of the party is to be held on May 9, while May 20 is the deadline for submitting the name of the governorship candidate to

the three options, primarily due to its reduced reliance on external borrowing, which lowered exposure to currency risk.

Cardoso stated that while significant progress had been made in implementing the MTDS, current exchange rate volatility, inadequate revenue generation, and external shocks, including oil price volatility, would necessitate continuous refining of the strategy to address these challenges and leverage opportunities.

He said at 37 per cent to GDP, Nigeria's debt level showed a relatively favourable position in terms of sustainability.

Cardoso added, “However, despite the generally moderate risk assessments, Nigeria must remain vigilant, especially regarding potential liquidity risks.

“If not adequately addressed, these risks could arise from weak revenue mobilisation, a persistent challenge undermining debt sustainability and economic stability.”

He stated that in recent times, the West African sub-region had been struggling with significant economic and financial challenges, including high fiscal deficits and rising public debt levels, low growth rates, persistent external imbalances, and weak domestic resource mobilisation capacity.

Cardoso stressed that improving debt management strategies and practices to ensure debt sustainability

the Independent National Electoral Commission (INEC). According to the timetable, in line with INEC’s timetable for the election, the final date for withdrawal and replacement of candidates is June 10, 2024.

and long-term economic growth had become urgent.

He insisted that an effective debt management strategy will ensure that a country's borrowing was sustainable and supported its development objectives.

“The plan must balance the need for financing against the costs and risks associated with borrowing options, including the risk of default and the potential for debt distress,” he said.

On his part, Baba said Nigeria, with a debt to GDP ratio currently at 37 per cent compared to its peer countries, still had room to borrow.

“But the issue with the Nigerian debt is, you don't use GDP to pay rather you use the revenue to pay for any debt,” he stated.

According to Baba, “Therefore if you look at it from the revenue side, we are at a high risk of debt distress in terms of our borrowing. So, what we need to do now is to step up our capacity to generate revenue, the more revenue we have, the less ratio of debt to revenue we have.

“If you look at the revenue to GDP ratio of Nigeria, I think it's among the lowest in developing countries and then we still have room to generate more revenue; if we generate more revenue, we still have more room to borrow.”

The WAIFEM director-general told THISDAY that amid concerns over the country’s rate of debt accumulation,

their action was a sheer criminal act that was not in anyway motivated by hunger. She said this yesterday at the end of an assessment visit to Gwagwa-Tasha to ascertain the level of damage to the warehouse where the palliatives for the six area councils were stored. She also vowed that going forward, the FCT administration will now establish police posts in all government-owned warehouses to protect them from looters. The minister decried the brazen stealing of all the grains and other food stuffs, including the roofs and fence of the storage facility.

She expressed outrage at the attitude of the youths within area, assuring that the administration

the meeting would examine existing portfolios, including pipeline loans, and be able to design its borrowing plan going forward, taking into consideration the cost and risks associated with existing debts.

He said the institute was in support of the federal government’s efforts to raise additional revenue.

Baba insisted that the country did not have a debt problem but rather a revenue challenge, adding, “All we need to do is to support the federal government to diversify the sources of our revenue and, of course, generate more sources of revenue.”

He said the MTDS sought to assist countries to design borrowing plans, taking into consideration the cost and risks associated with the existing and future debts they were likely to borrow.

Baba stated, “So, what it does is that in the medium term, countries can prepare a borrowing strategy that minimises the cost and risk that they are likely going to face in the next three to five years.

“The essence of this training is to train those participants in the formulation of the debt management strategy and, then, the design of an annual borrowing plan.”

CBN Reviews FX Rate on Import Duties to N1, 544.081/$

would now establish a police post in all government warehouses across the territory to deter the recurrence of such act.

"We are here due to the unfortunate incident that happened early hours of yesterday, (Sunday) where hoodlums attacked this very warehouse and packed everything that was here, including the fence.

"Not only the food items that were here, including the roofing, windows, and even the gates of this place and offices were all attacked. You can see the level of damage. There is nothing that is left here, including machineries that are used for the processing of these things.

"As you have heard, people around, the youth of the environment or the community are

CBN yesterday adjusted the FX rate on Customs import duties to N1, 544.081 to a dollar, from N1, 630.159 to a dollar, representing a 5.3 per cent reduction.

Effectively, importers opening Form M for trade yesterday, would benefit from a lower import regime.

The review came barely 10 days after the central bank advised the Nigeria Customs Service (NCS) and other related parties to adopt the closing FX rate on the date of opening Form M for the importation of goods, as the rate to be used for import duty assessment going forward.

However, the central bank added that effective February 26, the new rate would remain valid until the date of termination of the importation and clearance of goods by importers.

The bank disclosed this in a circular dated February 23, 2024, titled, “Foreign Exchange Rates for Import Duty Assessment”, which was signed by CBN Director, Trade and Exchange Department, Dr. Hassan Mahmoud, and addressed to all authorised dealers, NCS, and the public.

THISDAY checks on the customs’

Single Window for Trade portal showed that the exchange rate had been adjusted to reflect the new rate regime.

CBN stated that following the liberalisation of the FX market on the

suspected to have instigated this incident. So, this is a very sad event. And we are not happy about it," Mahmoud said. She also vowed that the administration would prosecute those behind the ugly incident, noting that the unfortunate incident occurred when the administration was restocking its warehouse with a view to meeting up with the directive of President Bola Tinubu to distribute palliatives to all the six area councils in FCT. She said: "We did distribution about twice. And then about to do the third one, where these trucks were here to offload these food items, and then they were attacked, they even injured some people on duty.

Willing Buyer-Willing Seller trading principle, there had been concerns by importers of goods and services over the irregular changes in the import duty assessment levies applied by the customs.

The developments, the bank stated, had further built uncertainties around the pricing structure of goods and services in the economy, creating abnormal increases in the final sale prices of items, which were largely driven by uncertainties, rather than traditional market fundamentals, with implications to near-term inflation trend.

The apex bank clarified that the new directive would enable the customs and importers to effectively plan appropriately and reduce the uncertainties around varying daily exchange rates in determining their revenue or cost structure, respectively.

It stated that it was particularly mindful of the initial volatility and price distortions in the aftermath of the FX market liberalisation.

CBN and expressed confidence that the reforms in the FX segment would in the medium term ensure stability in the market and entrench market confidence necessary to attract investment capital for economic growth and development.

The central bank has the sole responsibility of formulating the exchange rate policy in the country.

NEWS THISDAY • TUESDAY, MARCH 05, 2024 29
C A r D o S o De C r I e S rISI ng g lob A l Publ IC Deb T, S AYS nI ger IA ' S Sovere I gn o bl I g ATI on S S TA ble most cost-effective
L-R: Former Attorney-General and Commissioner for Justice in Ekiti State, Mr. Olawale Fapohunda, SAN; Leader of the Senate, Senator Opeyemi Bamidele and President, Nigerian Bar Association, Mr. Yakubu Maikyau, SAN after a session on the revised edition of the 2023 Senate Legislative Agenda held at the National Assembly Complex, Abuja … yesterday
among

NITDA CO-CREATE WEST AFRICA EXPO…

L-R: Chief Technical Officer/Co-founder, SeamlessHR, Deji Lana; Country Head, SmartComplyApp, Dolapo Akinbisola; Chief Executive Officer, GetBundi, Osita Oparaugo; Country General Manager, ALX Nigeria, Ruby Igwe, and Host, NITDA Co-Create West Africa Expo 2024, Andrea Teke, after their panel session on Artificial Intelligence at the NITDA-Co-Create West Africa Expo 2024 held in Lagos State… recently

Ghana May Lose $3.8Bn World Bank Funding Over Anti-LGBTQ+ Bill

Sunday Okobi with agency report

The government of Ghana may lose a total of $3.8 billion in World Bank funding over its recent Anti-LGBTQ bill passed by the country’s parliament last week.

The Finance Ministry of Ghana has appealed to the

president to withhold his signature from the contentious bill against LGBT rights, which was approved by parliament.

According to the BBC, the financial authorities in Ghana is suggesting that President Nana Akufo-Addo postpone the enactment of the bill until a Supreme Court decision verifies its compliance with

Drugs: Pharmaceutical Society of Nigeria Seeks Solutions to Poverty, Unemployment

President of Pharmaceutical Society of Nigeria, Prof Cyril Usifoh, yesterday stressed the need for the country to address the issues of poverty, unemployment and others plaguing the Nigerian society, saying these issues are affecting the pharmaceutical sector negatively leading to the high cost of drugs.

Usifoh, who was a guest on The Morning Show on Arise News Channel, expressed concern that

many pharmaceutical industries are finding it challenging to secure loans to power their industry as required due to high cost of production.

He expressed hope that investors would come into the country so as to kick-start production and ensure that the country is self-sufficient.

“If we are self-sufficient for up to 60 or 70 per cent of our medicines, it will be a great goal to achieve because we have people who are willing to think in this direction,” he said.

CJN Assures Judges of Improved Welfare Packages

Alex Enumah in abuja

Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, yesterday assured magistrates and Judges of the lower courts of efforts taking place to improve their welfare packages.

Ariwoola, who gave the assurance at the opening ceremony of the 2024 hybrid refresher course for magistrates and Judges of the lower courts in Abuja, commended the Judges for their efforts at justice delivery, particularly at the grassroots.

“While I am not unmindful of the challenges faced by the

magistrates and the Judges of the lower courts, I wish to seize this opportunity to offer assurances that proactive steps are being taken to ameliorate these difficulties and to improve the overall welfare of the judicial officers and staff of these courts since this invariably has an impact on the quality and pace of their service delivery,” he said.

The CJN explained that the term ‘lower courts’ which is often used in reference to the magistracy, the area courts, the customary courts as well as the Sharia Courts, “is not in any way indicative of their relevance or their role in the judiciary.

Okun People Task FG on Community Policing

Sunday Okobi and Ugo Aliogo

The people of Okun in Kogi

State, through their foremost group, Omo Okun Liberty Association (OOLA), have urged the federal and state governments to implement community policing initiatives to foster collaboration between law enforcement agencies and local communities in identifying and addressing security threats.

In statement made available to THISDAY yesterday by the association Chairman, Chief Akere Owoniyi, the group

called on the government to enhance the capacity of law enforcement agencies through training, equipping, and adequate resourcing to effectively combat criminal activities in the state and country at large. The statement noted that improving intelligence gathering capabilities to preempt criminal activities and enhance information sharing among security agencies to coordinate responses would be vital in tackling insecurity in the country.

the constitution.

Meanwhile, human rights organisations filed a legal challenge against the bill

even before its approval by parliament, though it’s anticipated that the Supreme Court won’t hear the case

for a while. The United States, United Kingdom, and various human rights groups have already

condemned the bill, which was backed by both of Ghana’s two main political parties.

Ondo Amotekun Arrests 23 Suspected Kidnappers, 44 Others in Two Weeks

Fidelis David in akure

Ondo State Security Network Agency codenamed Amotekun yesterday paraded 67 suspects arrested for various criminal offences across the state within two week.

The Ondo State Commander of

the Corps, Mr. Adetunji Adeleye, while parading the latest suspects at the Command’s headquarters in Akure said 23 out of the 67 suspects are suspected kidnappers.

“We have a good number of suspected criminals arrested during operations across Ondo State. The 67 criminals were

arrested within the last two weeks of rounding up ‘Operation Ember Months Programmes’ that we embarked on prior to the last yuletide.

“A good number of them were suspected kidnappers while a good number of them were identified by their victims.

Some of them were arrested with different types of weapons, some of them housebreaking, some suspected robbers and murderers,” he stated.

He also said among the suspects are three jailbirds identified as Taiwo Adeola, Juwon Olanrewaju and Olajide Olayemi.

Navy Destroys Three Illegal Refining Sites, Oil-laden Boat in Bayelsa

Olusegun Samuel in yenagoa and Sylvester Idowu in Warri

The Nigerian Navy Forward Operating Base (FOB) FORMOSO in Brass Local Government Area of Bayelsa State has destroyed three illegal refinery sites and one

large wooden boat laden with about 160,000 litres of products suspected to be stolen crude oil. This is just as operatives of the Tantita Security Services Nigeria Limited (TSSNL) in collaboration with the Nigerian Security and Civil Defence Corps (NSCDC) have destroyed 700

kegs containing 21,000 litres stolen crude oil in a camp at Ilaje Local Government Area of Ondo State. The operation is in line with the recently launched Nigerian Navy Operation Delta Sanity, to curb illegal oil theft and bunkering activities within the maritime domain.

It is also part of the Navy’s determined fight against illegal bunkering and refining of crude oil in the creeks of Niger Delta.

The Commanding Officer Forward Operating Base, Capt. Murtala Rogo, stated this in an interactive section with journalists yesterday.

House C’ttee Calls for Increase in Budgetary Allocation to Presidential Amnesty Programme

Juliet Akoje in a buja

The House of Representatives Committee on Niger Delta Affairs yesterday called for an increase in the budgetary allocation to the Presidential Amnesty Programme (PAP).

The lawmakers made the call while meeting with the officials of the PAP at the headquarters in Abuja.

The Interim Administrator, Maj-Gen. Barry Ndiomu (rtd), lamented that the value of the annual budget of PAP had

depreciated by a whopping $105,000 since last year when the naira began to slump against the dollar at both official and parallel markets with consequential impacts on the programme’s policies and activities.

The visiting lawmakers led by the Chairman, Hon. Eugene Dibiagwu, promised to interface with their colleagues to find common grounds to address the funding gap in the amnesty programme.

Again, FRSC Cautions Motorist against Speed Violation, Night Trips

Kasim Sumaina inabuja

Disturbed by the death of 17 people in two separate night trips, the Corps Marshal, Federal Road Safety Corps, Dauda Ali Biu, yesterday cautioned drivers against night trips, overloading and excessive

speeding.

Biu gave the caution again after receiving the report of the two landmark crashes that occurred at the early hours of yesterday, March 4, 2024 at Tashar Yari village along Zaria-Kano Expressway and Fire Service Academy along

Yangoji-Gwagwalada expressway.

According to the reports submitted by crash investigation teams of the Corps, the Tashan Yari village crash which occurred at 0736, involved a trailer overloaded with grains and 40 passengers seating on top of the goods. The

Trailer with registration number KTG 454 ZZ, which was on a night trip, enroute Kano from Azare, was said to have crashed due to wrongful overtaking, driving against legal speed limit as well as overloading of vehicle with goods and people alike.

APC, PDP Defy Alia’s Directive, Hold Congresses in Benue

George Okoh in makurdi

The All Progressives Congress (APC) and the People Democratic Party (PDP) in Benue State have both defied the directive by the state Governor Hyacinth Alia banning political gathering in state.

The state government had

placed a ban on all forms of political meetings and gatherings be it inter-party, intra-party or groups till further notice.

In a letter addressed to the state Commissioner of Police by the Chief of Staff to the Governor, Paul Biam, he had said the ban become imperative “following intelligence on the volatility of

the security atmosphere in some parts of the state.”

Despite the directive, the two major parties had successful congresses in the state last Sunday.

It is left to see the reaction of the state government, but a source said the governor had no right to stampede the constitution

which provided for freedom of expression and association.

While the APC held a special congress meeting at the residence of the Secretary to the Government of the Federation (SGF), Dr. George Akume, in Makurdi, the PDP had there zonal congress at the Golden Palm Resort in Otukpo.

Ex-NAHCON Boss, Hassan, Threatens Legal Action over Alleged Invitation by EFCC

Chinedu Eze

The immediate-past Chairman of the National Hajj Commission of Nigeria (NAHCON), Alhaji Zikrullah Hassan, has condemned a recent online publication accusing him of gross abuse of office, and alleged that he was grilled by operatives of

the Economic and Financial Crime Commission (EFCC) on February 26, 2024.

Hassan, who spoke through his media aide, Shakirudeen Bankole, denied the allegation, saying at no time was he invited by the anti-graft agency for questioning on allegations of corruption or any related offence.

While acknowledging that officials of the agency examined the books of the commission when he was still in office, he said NAHCON’s relevant officials provided all answers to the queries raised by the EFCC operatives.

According to him, “On my honour as a Muslim and a

decent family man, I make bold to say that not for once did the EFCC operatives on investigation mission at NAHCON consider it necessary to query me. You can’t find any evidence of my interface with contractors nor running any financial transaction in place of the relevant officials.”

TUESday march 5, 2024 • THISDAY 30 NEWS
Tantita, NSCDC Destroy 21,000 litres of stolen crude oil in Ondo

Nigeria’s Aruna, Omotayo, Edem, Other Top Stars Advance to Q’finals

Team Nigeria’s table tennis players, Quadri Aruna, Olajide Omotayo and Offiong Edem joined top players in the continent in the quarter finals of the ongoing 13th African Games

AFRICAN GAMES

taking place in Accra, Ghana. Aruna, Omar Assar, Dina Meshref, Hana Goda all sailed through to the quarterfinal stage of the singles

event of the ongoing 13th African Games taking place in Accra, Ghana. Aruna, a two-time silver medalist had to work hard to defeat Algeria’s Stephane Quaiche 3-1 in an explosive match on the centre table.

2015 champion Assar of Egypt

wasted no time in dismissing Algeria’s Sami Kherouf 3-0.

Also, men’s singles defending champion, Olajide Omotayo of Nigeria, was ahead of Tunisia’s Kalil Sta with a commanding 3-0 win.

Congo Brazzaville’s Saheed

PSG’s Enrique Dodges

Questions

About Mbappe Ahead Sociedad Clash

PSG Manager, Luis Enrique, yesterday dodged several questions about Kylian Mbappe's future at the Ligue 1 club, insisting he was more focused on the second leg of their Champions League last-16 clash at LaLiga side Real Sociedad today.

France Captain Mbappe, the club's all-time leading goal scorer, has yet to play a full match since he informed PSG that he would leave them as a free agent at the end of this season.

Since coming off the bench to

CHAMPIONS LEAGUE

score the winner against Nantes on February 17, the 25-year-old was substituted in two consecutive Ligue 1 games in which PSG were held to draws.

Bombarded with questions about Mbappe, Luis Enrique appeared agitated at times and kept joking with the UEFA translator that he was not really understanding the questions.

"It's very easy to manage (the flood of Mbappe questions), I just take whatever questions the journalists want and answer whatever I want, that's my formula," Luis Enrique told a press conference at San Sebastian on Monday.

"The match is so important that there are no comments to be made (about Mbappe)."

Luis Enrique was determined to block out any distractions as PSG, who take a 2-0 lead into the second leg against Real Sociedad, target a

...Heineken Redefines Fan Support as Man City, Others Chase UCL Q'final Tickets

As the world eagerly awaits the first set of quarter-finalists for the UEFA Champions League this season, Heineken is redefining fan support with their "Cheers to the Real Hardcore Fans" campaign. This unique initiative celebrates the true spirit of football, going beyond the negativity often associated with the term "hardcore."

"Heineken's campaign celebrates the passionate supporters who dedicate their hearts and souls to the beautiful game," explains Maria Shadeko, Portfolio Manager of Premium Drinks at Nigerian Breweries Plc. "As the Champions League reaches its boiling point, we

want to toast to the 'Real Hardcore Fans' – the ones who make the beautiful game truly beautiful."

From Manchester's passionate supporters to the vibrant fans of Madrid, every fan is expected to play a crucial role in driving their teams towards the quarter-finals.

This week's upcoming matches promise nail-biting drama and intense competition, following a series of close encounters and unexpected results in the first leg.

In Germany, Bayern Munich must overcome a 1-0 deficit against a resilient Lazio defence, despite being the favourites. Can the German giants leverage their home advantage

and silence the "hardcore" Lazio supporters travelling to Munich?

Real Sociedad face a monumental task against the star-studded PSG team, needing a comeback to overcome a 2-0 deficit from the first leg in Paris. Can the passionate Basque fans inspire their team to pull off an upset and channel their "hardcore" spirit?

Meanwhile, the reigning champions, Manchester City, are comfortable after their 1-3 away win against Copenhagen. However, Copenhagen, with nothing to lose, can unleash the spirit of a true "hardcore" underdog and challenge the mighty City.

place in the Champions League quarterfinals.

"Champions League second legs are all difficult, the result we have is good, but it's misleading if you don't come out with the right attitude. If you come out clueless, you'll drown in misery, that's what I'm trying to avoid," Luis Enrique said, aware of the raucous atmosphere that PSG will face at a sold-out Reale Arena.

Real Sociedad manager Imanol Alguacil, whose side have been struggling for form in recent weeks, having won only one of their last nine competitive matches, was confident that his side can fight back to knock out the French giants.

"We want to eliminate PSG, at least I believe that. Hopefully after the game we'll all be happy celebrating the pass, it would be a bombshell," Alguacil told a press conference.

TODAY

B’Munich v Lazio

Sociedad v PSG

WEDNESDAY

Man City v Copenhagen

R’Madrid v RB Leipzig

EUROPA

Sporting v Atalanta

NPFL

Gombe v Shooting

Cricket: Tanzania Wins 5th Nigeria Women T20i in Lagos

Tanzania

Women’s T20i Invitational Tournament.

Captain of the winning side, Neema Pius, said they prepared well for the event and were not surprised that the overall victory went in their favour despite the early slip that saw them lose their first match to Rwanda. “We knew we would do well in Nigeria and the event was also important to us because of the All-Africa Games that we are going to in Ghana.”

Nigeria, the defending champion of the event, had to settle for a second place after the Yellow-Green Ladies held down their arch-rival Rwanda to a 20-run victory in the last match of the event.

Both pride and jostle for the second place were at stake when the match started but, Nigeria's batting had to quickly set a 110/8, with Lucky Piety contributing 28 runs (including four boundaries).

Idowu ended the dream of Tunisian teenage sensation Wassim Essid with a 3-0 win while Egypt’s Mohammed El-Beiali also defeated Algeria’s Maheidine Bella 3-0 to hit the last eight.

Khaled Assar of Egypt also joined the league of top players in the last eight with a dominating 3-0 win Tunisia’s Youssed Ben Attia, while Senegal’s Ibrahima Diaw edged out bespectacled Mohammed Shouman 3-1 to qualify for the last eight of

the men’s singles. The women’s singles quarterfinal was dominated by Egypt as Meshref, Yousra Helmy, Hana Goda and Mariam Alhodaby picked their places in the last eight.

Nigeria’s only surviving player Offiong Edem beat Mariam Alhodaby 3-0 while Esther Oribamise fell 3-1 to Cameroon’s Sarah Hanffou. Algeria’s Lucie Mobarek and Lynda Loghraibi also sailed through to the quarterfinal.

CAF Confed Cup: Elegbeleye Celebrates Rivers Utd’s Qualification for Q’final

Rivers United has been applauded for reaching the quarter finals of the 2023/24 CAF Confederation Cup following a 2-1 defeat of Dreams FC of Ghana in the last group fixture in Uyo. Rivers United finished second behind the Ghanaian side on same points but on inferior goals deficit with Club Africain of Tunisia dropping to third after a 1-1 draw with APC Lobito of Angola. Chairman of the Nigeria Premier Football League (NPFL), Hon Gbenga Elegbeleye, in a congratulatory message, said their success has added to the recent revival of the nation's football. The NPFL Chairman also commended the club for the win which sustained Nigeria's standing in country ratings in CAF club competitions.

"The victory of Rivers United and their qualification for the knockout stage is very significant because it

has guaranteed Nigeria two places each in the CAF Champions League and CAF Confederation Cup.

"We are very delighted that the Club has sustained the country's recent good runs in football since the coming of the Ibrahim Gusau led NFF Board", declared Elegbeleye. He assured Rivers United of the continued support of the NPFL Board in whichever way its assistance is required to ensure that Nigeria wins the competition.

"Rivers United is a worthy ambassador of the NPFL and we are very proud of their performance which also has rubbed of positively on the quality standard and competitiveness of our league", continued Elegbeleye. Rivers United will now face any of the three of USM Alger of Algeria, Zamalek of Egypt or RS Berkane of Morocco in the last eight in a home and away legs knockout games.

Joshua Wants to Deliver a ‘Statement’ Win over Ngannou

Former two-time boxing heavyweight champion, Anthony Joshua said he wants to deliver a statement win by knocking out former mixed martial arts champion Francis Ngannou in their boxing bout in Saudi Arabia on Friday. Joshua, who lost his WBA, IBF, WBO and IBO heavyweight belts to Ukraine’s Oleksandr Usyk in 2021, has won his last three fights as the 34-year-old looks to reestablish himself as a top contender in the division

“I believe I can knock him out,” Joshua told Sky Sports in an interview published yesterday.

“Definitely. I would love to knock him out and make a statement. Physically I feel strong, feeling

good. Strong enough to get the job done and mentally I’m in a place where I’m ready for war. I’m looking forward to the challenge. “Mentally I don’t worry so much about my opponent and look at what my opponent can bring to me and think, ‘How can I overcome these challenges they present?’ I work hard to up my game and look forward to showing everything I’ve worked on.”

Ngannou, 37, vacated his UFC heavyweight belt after a contract dispute with the promotion company and exited as a free agent in January last year. He made his pro boxing debut in October against Tyson Fury, losing via split decision in the non-title fight.

NFF, NWFL Mourn Passing of Former Falcons Goalkeeper

Olawale Ajimotokan in Abuja

The Nigeria Football Federation (NFF), has described as “very sad” the death at the weekend of former Nigeria U20 Women National Team goalkeeper, Bidemi Aluko-Olaseni. Aluko-Olaseni, who had been battling with cancer for about eight years, gave up the battle on Friday evening.

Esther Sandy (17), Salome Sunday (11), and Victory Igbinedion (11) all made good contributions to the total.

In the second inning, however, it was the bowling attack of the Nigerian women that won them the game. Christabel Chukwuonye took three wickets while Peculiar Agboya chucked off two on

“We are very sad to hear of the demise of Bidemi Aluko-Olaseni. It is disheartening to hear of the passing of such a young woman. She had been ill for some years now but we were hoping and praying she would recover and still be able to pursue her passion and dream.

“The NFF and the Nigeria Football family are grieved by her death. However, we are happy that she took her passion and dream to

a certain level. Our prayer is that God grants her eternal rest and also grant those she has left behind the fortitude to bear the loss,” NFF General Secretary, Dr. Mohammed Sanusi said on Monday.

Similarly, the board and management of the Nigeria Women Football League (NWFL) expressed deep sadness over the passing of Bidemi Aluko-Olaseni.

In a statement yesterday, NWFL noted that during her brief stint as a goalkeeper for the Falconets (Nigeria U20 women's team), Aluko-Olaseni showcased remarkable skills and unwavering determination to reach the highest level of her career.

The former goalkeeper featured for several prominent clubs in the country, among them Sunshine Queens, Ekiti Babes and Rivers Angels.

TUESdaySporTS Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
Offiong Edem in action against Mariam Alhodaby before progressing to the quarter final stage of the table tennis women’s singles event of the ongoing 13th African Games in Accra, Ghana Tanzania’s Women’s Cricket Team has won the fifth edition of the NCF Women T20i Invitational Tournament concluded at the Tafawa Balewa Cricket Oval in Lagos last Sunday. beat Sierra Leonian Women’s team by a whopping 92 runs in their last match of the event to establish their supremacy and finally seal their victory in the 5th NCF their way to limiting the Rwandan Women’s team to 90 in twenty overs.
THISDAY • TUESDAY, MARCH 05, 2024 31

Lawmakers to CBN, Discos

“There have been reports of discrepancies, mismanagement and noncompliance with the terms and conditions of the loans disbursed under the NMMP by some Discos, leading to inefficiencies, under performance, and failure to achieve the objectives of the NMMP. We are worried by the lack of proper oversight, monitoring and evaluation of funds disbursed under the NMMP by the CBN...” --Lawmakers, probingtheCBN,DiscosontheNational MassMeteringProgramme(NMMP).

TUESDAY WITH REUBEN ABATI

abati1990@gmail.com

New Justices Of The Supreme Court

When Justice Olukayode Ariwoola, Chief Justice of Nigeria (CJN) retires from the Bench in 2024, upon the attainment of the statutory, mandatory retirement age of 70 years, he would be able to count among his legacies, as CJN, the singular fact that it was under his watch that the Supreme Court achieved the full complement of 21 Justices as required by law. Section 230(2) (b) of the 1999 Constitution states that “the Supreme Court of Nigeria shall consist of such number of Justices not exceeding 21 as may be prescribed by an Act of the National Assembly.” By February 2020, the number of Justices left on the Supreme Court was 13. One after the other, their Lordships retired: Justice Paul Galumje retired in 2020, Justice Sylvester Ngwuta died while still in service in March 2021, three weeks to his 70th birthday, Justice Olabode Rhode-Vivour, retired in 2021, Justice Mary Odili in 2022, Justice Ejembi Eko in 2022, Justice Tanko Muhammad resigned abruptly in 2023, Justice Amina Augie retired in 2023, and Justice Musa Dattijo Muhammed, 2023, Justice Chima Cletus Nweze, due to retire in 2028 died in July 2023. By October 2023, the number of Supreme Court Justices had dropped to an unprecedented, all-time low number of 10. Those vacancies have now been filled. It is a historic, welcome development and beyond the Bench itself, an achievement for the Bola Ahmed Tinubu administration.

The extant Revised NJC Guidelines and Procedural Rules for the Appointment of Judicial Officers of all Superior Courts (2014), and the 2016 National Judicial Policy define the processes for the appointment of such officers - nominations from a broad spectrum of persons and officials are required but for some reason, there was never a full complement of Supreme Court Justices under the Buhari administration. Sometime in 2019, President Buhari had in fact asked the then acting CJN, Justice Tanko Muhammad to initiate the process of filling the vacancies on the Supreme Court Bench. This caused a little furore, the nomination of judges not being the function of the Executive. The integrity of the process was the issue. When the NJC went ahead to obey the Presidential directive and recommended the appointment of four new Supreme Court Justices, and sent the list to President Buhari, a civil society group, Access to Justice went to court. We need not allow the history of the relationship between the Buhari administration and the judiciary to detain us in this present enquiry, however. It is enough to say that at those times, 2015 – 2023, the relationship between the judiciary and the Executive arms of government were in turns adversarial and complementary. Buhari was the first President to allocate the largest amount of funding to the judiciary, but it was also in those days that it became common for the houses of judges to be raided at midnight. Justice Walter Onnoghen was suspended as CJN, and forced to retire before his time. His replacement, Justice Tanko Muhammad was also forced to retire prematurely. The Buhari administration routinely disobeyed court orders and violated the rule of law. In 2016, two Justices of the Supreme Court were appointed under the Buhari administration -Justices Ejembi Eko and Amina Augie, and in 2020 four Justices - Tijanni Abubakar, Mohammed l. Garba, Abdu Aboki and Mohammed M. Saulawa but at no time since 1999 did the Supreme Court reach its full complement. This has now happened with the swearing in, a week ago, of additional 11 Justices of the Supreme Court: Haruna Tsammani (North East), Jamilu Tukur (North West), Abubakar Umar (North West), Jummai Sankey (North Central), Mohammed Idris (North Central), Stephen Adah (North Central), Moore A. Adumein (South South), Chidiebere Uwa (South East), Chioma Nwosu-Iheme (South East) Obande Ogbuniya (South East) and Habeeb Adewale Abiru (South West). These were the 11 that made it to the Supreme Court out of the 22 that were originally shortlisted and screened by the National Judicial

Council on 28th November 2023, divided then into priority and reserved candidates. The final list has 10 of the priority candidates and one that was reserved - Justice Chioma Nwosu-Iheme. It is most appropriate to congratulate their Lordships on their elevation to the apex Court. It is a great honour and an accomplishment of no small measure to sit on the highest court in the land. The CJN underlined this when he told the 11 Justices that they should see themselves as “God’s representatives on earth.” He told them that they should not seek to please everyone: “the only deity you can fear is the Almighty God. Once your judgment is in consonance with what God expects from you, and is also in accordance with the Constitution, you should consider yourself the happiest and freest person on earth. Your moral uprightness, integrity and respect for the constitution and other extant laws in operation, must be unwavering and unassailable. Any judgement given at this level can only be upturned in heaven.”

In those words, CJN Olukayode Ariwooola reminded the JSCs of the role of the judex, and the high responsibility upon their shoulders. They are expected to be above board like Caesar’s wife, to dispense justice without fear or favour not minding whose ox is gored. These 11 Justices are taking their seats on the Supreme Court Bench at a time when the reputation of the Nigerian judiciary, including the apex court has received so much bashing, and there is a lot of cynicism about our judges among the populace. Today, not many would agree with CJN Ariwoola that Nigerian judges at any level are God’s representatives on earth, or that they have any clue about what God expects from them. The CJN could have offered his guidance without dragging God into the matter. But he was right to have suggested that all eyes will be on the apex court, especially the eyes of Nigerian politicians who think that part of their mission should be to steal the votes and also influence the judges. The eyes of lawyers will also be on the new Justices, who are already known, but in terms of how their elevation and having a full complement of the judex on the apex Bench would affect the dispensation of justice and enrich jurisprudence.

The key concern about the depletion of the apex court was that the dockets were full, the court was over-congested with cases, and the Justices, so few in number, were overworked. They were also underpaid and under-resourced as Justice Musa Dattijo Muhammad pointed out in his somewhat

histrionic valedictory speech in October 2023. With the apex court now having 21 Justices, it means more cases can be heard and there can be a better rate of performance and efficiency. But for this to happen, however, the administrative processes at our Supreme Court also need to be overhauled and modernized. There is too much clumsiness that is advertised up there. Many cases that need not go all the way to the Supreme Court show up there. This should be a proper policy court, not an “orisirisi court”. It must be possible to have a strong, pro-active Registry of the Supreme Court that rejects cases that do not belong there. The Supreme Court’s original and inherent jurisdiction should be clear enough. Many lawyers have had to go to the Supreme Court only to be told that the Justices are away for another function, or that the matter should not have been brought there in the first place. In the age of telephony and modern communication, that is scandalous. The Supreme Court must become a 21st Century Court by deploying technology to aid its processes and by learning the best lessons from other jurisdictions. Any counsel that files any incompetent or frivolous matter or tries to waste the time of the court must be promptly sanctioned. These days, there is too much indiscipline by lawyers that is condoned by the Bench at all levels.

The 11 new Justices were said to have gone through screening by the Department of State Services (DSS). I think it is scandalous that potential Justices of the Supreme Court have to be screened by the DSS, which in the books has absolutely no role in the nomination or appointment of Judges. The very suggestion that the Nigerian judiciary can throw up any persons who can rise through the system and act as judges for years, only to be investigated for any form of wrong-doing at the point of elevation to the apex court is scary. But in any case, all the Justices reportedly passed the test and they were unanimously cleared by the Senate of the Federal Republic via the instrumentality of a voice vote.

I think the rubber-stamp role of the Senate in the process should also be reviewed. In other jurisdic- tions, such as the United States, justices don’t just get to the Supreme Court. They are subjected to rigorous public scrutiny and may be rejected or withdrawn. Public hearings are held, the nominees are interrogated. Their previous judgements are scrutinized to determine their scope, ideological bent and contributions to Constitutional doctrine. Their academic qualifications are carefully re-examined too. Students of comparative legal systems will remember the case of Justice Clarence Thomas and the sexual harassment testimony of Anita Hill in 1991, as well as the objection of Democrats to Justice Robert Kavanaugh, and the febrile public hearings that attended his screening in 2018. There is also the recent case of Ketanji Brown Jackson, the first Black woman to serve as a Justice of the United States Supreme Court. She did not get there because of her colour or gender. Her confirmation hearings were heated and contentious.

Here in Nigeria, once you make the NJC final list, you are already on the Bench. We need to review the process and allow public hearings. In the course of the review of litigations after the 2023 general elections, questions were raised about the work of at least two of the 11 Justices who are now on the Supreme Court Bench: Justice Moore Adumein in the 2023 Kano Gubernatorial election case, and Justice Chioma Nwosu-Iheme whose nomination was openly questioned by Senator Elisha Abbo. It would have been good for their Lordships to be asked for example to respond to the allegations and insinuations about their professionalism.

It is also not a good thing that elevation to the highest judicial seat in the country has been reduced to geography and promotion. There has been some talk about how the appointments show diversity - that is geography. Every geopolitical zone is now well represented at the Supreme Court Bench. It must be said that Supreme Court Justices are not quota representatives. They are to be chosen on the basis

of merit, character and proven contributions to law. The notion that Justices of the Court of Appeal are entitled to be promoted to the highest court in the land is wrong. I find strong merit in the recommendation that the Supreme Court Bench should be made open to Senior Advocates of Nigeria of great distinction and academics to deepen the knowledge and expertise base of the court. The Supreme Court must not be turned into a secret society or a retirement zone for Justices of the Court of Appeal. In 2017, the Nigerian Bar Association nominated nine of its members for the Supreme Court seat but they were ignored. The appointment of judges must be reformed. And that would not be new: Justices Teslim Elias and Augustine Nnamani got to the Supreme Court through academia and the Bar. In Canada, this widening of the pool that we recommend is standard practice.

The big elephant in the room is jurisprudence. One of the major concerns about Nigeria’s Court of Appeal is that it had become a court of technicalities, with the judex determining cases on convenient technical grounds rather than the higher ground of judicial activism. With the new Justices of the Supreme Court coming directly from that court, it is hoped that they would not bring their overreliance on technicalities to the Supreme Court. Once upon a time, especially during the golden era of Justices Kayode Eso, Chukwudifu Oputa, Augustine Nnamani, Ayo Irikefe, Anthony Aniagolu, Andrew Obaseki, Adolphus Karibi-Whyte, Alfa Belgore Muhammadu Uwais, Mohammed Bello … Nigeria witnessed some of the most rigorous applications of the law and the delivery of justice, even under the military, and court judgements by their Lordships were profound exercises in law, language, philosophy and wit. Over the years, the standards collapsed, as court judgements were reduced to a simple summary of pleadings and a casual pronouncement of decisions – a frightening indication of how robust craft and sound reasoning had disappeared from our courts. Most students of the law would like to see a return to the good old days not just at the apex court, but within the entire judiciary, which in itself is in urgent need of reform.

With the current talk about reconfiguration, decentralization and restructuring, whichever phrase suits our fancy, the Nigerian judiciary is also in urgent need of reconfiguring. There is too much power in the hands of the Chief Justice of Nigeria who in addition to being CJN, is also Chair of the National Judicial Council (NJC), Chair of the National Judicial Institute (NJI), Chair of the Legal Practitioners Privileges Committee (LPPC) and Chair of the Federal Judicial Service Commission (FJSC). The military after a fashion may have imagined that the head of the country’s judiciary should also be an overlord like them, but that has to change: the office of the CJN must not possess the powers of an Emperor or what Yorubas call “Kabiyesi”, that is a traditional monarch, who represents God on earth! The NJC should be unbundled. The CJN must be a democrat within the system. It should also not be the duty of the NJC to appoint and discipline judges or to appoint Chief Judges of the states. There have been calls as well for the de-centralization of the Supreme Court for more effective administration of justice, with the apex court having divisions in the country’s six geopolitical zones like the Appeal Court.

While the pros and cons of that suggestion may be a different kettle of fish altogether, the immediate expectation is that a full Supreme Court would have all its court rooms functioning and that the new Justices will enrich our jurisprudence and help the apex court achieve its full potential. Even with these new appointments, more Justices of the Supreme Court will also soon retire. There should be no delays in filling whatever vacancies may arise. At an individual level, each one of the Justices has a duty and a responsibility to prove his or her mettle. Welcome on board, your Lordships…

MISSILE TRUTH & REASON Tuesday, March 05, 2024 Price: N400 Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAiL: editor@thisdaylive.com, info@thisdaylive.com. TELEPhoNE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTiSiNG hoT LiNES: 0811 181 3085, 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUiRiES & BooKiNG: adsbooking@thisdaylive.com
Justice Olukayode Ariwoola

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