WEDNESDAY 10TH MARCH03 2021 by THISDAY Newspapers Ltd

CBN Disburses N253.54m Grant for COVID-19 Vaccine Research Evaluates 68 proposals, approves five on merit Mustapha, Mamora hail Emefiele

James Emejo in Abuja The Central Bank of Nigeria (CBN) yesterday disbursed a total sum of N253.54 million grant to five health researchers under the CBN’s

Healthcare Sector Research and Development Intervention Scheme (HSRDIS) to aid the development of vaccines and drugs to combat communicable and non-communicable diseases, including COVID-19.

The scheme is part of the apex bank's policy response to the COVID-19 pandemic to spur the development of vaccines and drugs. CBN Governor, Mr. Godwin Emefiele, said in Abuja

during the award of grants to successful applicants that so far, 68 proposals had been evaluated from the over 286 proposals received from the public, while five proposals with merits, valued at N253.54

million, were recommended by experts for financing. He stated that some of the recommended proposals had the potential to enable the development of the Nigerian vaccine for COVID-19.

He congratulated the recipients of the award for their efforts in working to develop solutions to some of Nigeria’s healthcare challenges Continued on page 9

Domestic Investors Maintain Dominance of Stock Market Transactions... Page 8 Wednesday 10 March, 2021 Vol 26. No 9467. Price: N250

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Buhari Launches $3.2bn Port Harcourt-Maiduguri Railway Project... Page 8

26 States Await COVID-19 Vaccine Delivery as Eight Govs Receive Jab Today Lagos, FCT, Nasarawa, Kaduna, seven others confirm receipt Our Correspondents Twenty-six states were last night waiting for the delivery of their COVID-19 vaccine allocations from the National Primary Health Care Development Agency (NPHCDA), THISDAY’s investigation has revealed. It was gathered yesterday

that only 10 states– Lagos, Kaduna, Akwa-Ibom, Ogun, Ondo, Osun, Ekiti, Nasarawa, Benue and Bauchi as well as the Federal Capital Territory (FCT) – had confirmed receipt of their allocations of the AstraZeneca vaccine with Ogun State taking delivery Continued on page 9

Delta Tackles FG over £4.2m Repatriated Funds from UK Malami’s insistence despite Bayelsa precedent unacceptable, says group Alex Enumah in Abuja The Delta State government yesterday faulted the decision of the federal government to spend the £4.2 million forfeited by associates of a former governor of the state, Chief James Ibori, on the completion of the Second Niger Bridge, Abuja-Kano Expressway and the Lagos-Ibadan Expressway under the coordination of the Nigeria Social Investment

Authority (NSIA). Delta Elders' Forum (DEF), led by a former Minister of Information, Chief Edwin Clark, also opposed the plan of the federal government to use the funds to complete roads in other states when federal roads in the state are in deplorable condition. The forum also found as unacceptable the argument Continued on page 9

EAST BY RAIL... Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed (left), and Minister of State for Transportation, Senator Gbemisola Saraki, during the virtual ground breaking ceremony for the rehabilitation and reconstruction of Port HarcourtMaiduguri Eastern Narrow Gauge Railway in Abuja…yesterday

PDP Urges Buhari to Hire Mercenaries to Fight Insurgency... Page 5

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NEWS

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

PDP Urges Buhari to Hire Mercenaries to Fight Insurgency Insists no decision yet on zoning of presidency

Chuks Okocha and Emmanuel Addeh in Abuja The Peoples Democratic Party (PDP) yesterday called on President Muhammadu Buhari to hire mercenaries to fight the insurgency war. The party also said it is yet to make a decision on which zone would produce the presidential candidate of the party in the 2023 general election. Speaking on ARISE NEWS CHANNEL, the broadcast arm of THISDAY Newspapers, the National Publicity Secretary of the PDP, Mr. Kola Ologbondiyan, also dismissed reports that the party is in disarray, saying the Senator Bukola Saraki-led reconciliation committee is addressing members' grievances. He accused the Buhari administration of not listening to and utilising the advice given to it on a range of challenges facing the country, explaining that the PDP has always proffered solutions for all critical areas of national distress. "You can only talk to a government that listens. There's been no engagement that the PDP has done on issues in our country that is not backed by possible solutions,” he told ARISE, adding: "But you are talking to a party that's akin to a deaf and dumb political party. In the six years of this administration, what have they taken from all our advice? He said the party had advised the Buhari administration to seek military help from military contractors as armed forces seem tactically challenged in the war against insurgence but refused to accept it. Ologbondiyan queried: "Have we not proposed the issue of mercenary, did he take it? Haven't we proposed carrot and stick, did he take it? Haven't

we suggested securing our institutions? Have they taken it? He added: “This is a government that doesn't listen to the other side. They are all-knowing and that's why they are failing. You will recall that we brought in mercenaries, which Zulum (Prof. Babagana), the governor of Borno State, is already canvassing for." He urged Buhari to consider the use of mercenaries, as did by former President Goodluck Jonathan, in the run-up to the 2015 general election to fight insurgency in the North-east. He stated that the action enabled the Independent National Electoral Commission (INEC) to conduct the election in all the 774 local government areas in 2015. To contain the insurgency, the Jonathan administration in 2014 had contracted Conella Services of South Africa, which is believed to have in collaboration with the Nigerian military degraded Boko Haram and liberated many communities within a short period of time, paving the way for peaceful national elections within weeks. The group, contracted by the then National Security Adviser (NSA), Col. Sambo Dasuki (rtd), recently explained that while it would like to return to the country if invited by the Buhari administration, it refused to see its possible return as an indictment on the Nigerian military, noting that it left the country after some disagreements with the previous administration. But the PDP spokesman said Nigerians were tired of the current administration and were looking up to the party for succour. Ologbondiyan stated that the PDP held peaceful zonal congresses in other parts of

the country, unlike the All Progressives Congress (APC) that's currently in chaos. He added that the problem between Governor Seyi Makinde of Oyo State and a former Ekiti State Governor, Mr. Ayo Fayose, is being amicably resolved. According to him, the only thing going on within the party now is reconciliation, while electronic membership registration will commence thereafter. He said: "I have said it for the umpteenth time that zoning is dependent on some variables and narratives. We have not reached the point of zoning. We have not set up any committee on zoning. We are allowing for debates, discussions, narratives and opinions of Nigerians on

the direction. "We are not the APC which has done eight years in one zone and is still thinking of reneging on its promises." Ologbondiyan stated that while the PDP had its fair share of mistakes while in power, the kidnapping of schoolgirls had become too frequent. He accused the president of not heeding advice or public opinion on how to tackle insecurity. “If they talk about Chibok girls, how many girls are we going to talk about under this administration? Has there not been Kankara, Jangebe etc. It is clear that APC as a party has failed woefully,” he added. PDP said under the Buhari government, banditry and terrorism have become rampant,

despite the president's avowal that as a military general, he would fight from the front. He defended the position of the PDP as an opposition party, saying that even though the party continues to proffer solutions to the security problems, the administration has refused to consider its suggestions. Ologbondiyan explained that the party has outlined some solutions to the security challenges in the country, including the use of mercenaries, the deployment of carrot-and-stick option as well as the provision of security in Nigeria’s institutions of learning, that the president has ignored. “Under Jonathan, there was a carrot-and-stick approach.

We were building schools for itinerant traders, for people who were not resident in the larger society as we put it. What we are saying is simple, Nigeria has weighed between water and oil and they now know which one is heavier,” he said. According to him, it is only the PDP that has a perfect understanding of the nuances of the nation, of the divisions and fault lines and, therefore, knows how to unite the country. He said that no party in the country has given women more opportunities than the PDP, adding that for instance, while female governorship aspirants in Anambra State are paying only N1 million for forms, their male counterparts are paying N21 million.

VACCINATED... Former Governor of Ogun State, Chief Olusegun Osoba (left), and the state Commissioner for Health, Dr. Tomi Coker, during the vaccination of the former governor in Abeokuta...yesterday

Buhari, Osinbajo Reiterate Commitment to Women Empowerment Deji Elumoye in Abuja President Muhammadu Buhari and Vice President Yemi Osinbajo yesterday reiterated the federal government’s commitment to continue to empower women to enable them to excel in their various callings. The duo at separate functions in Abuja yesterday pledged their readiness to ensure that women are encouraged to showcase their ability to perform like their male counterparts. Buhari, while receiving in audience the Executive Director of the Joint United Nations Programme on HIV/ AIDS (UNAIDS) Mrs. Winnie Byanyima, said in Abuja that women held strategic positions in his administration. “The Ministry of Finance, Budget and National Planning is headed by a woman. The

civil service of the federation is headed by a woman. And many others like that. We will continue to do our best to empower our women," he stated. On infrastructure renewal, he said the country lost good opportunities but can’t continue to cry over spilt milk. “We are now doing our best in concert with some developed countries,” he said. Earlier, Byanyima had described Buhari as “a Nigerian and African hero,” stating that exploits by Nigeria in the control of the COVID-19 pandemic and HIV/AIDS are quite commendable. “I salute your leadership in Nigeria and Africa. It is very robust. I praise you for it,” Byanyima said. She implored Nigeria to be represented at the highest level during the special meeting on HIV/AIDS by the United

Nations in June, stressing that the meeting, which holds every five years, is meant to renew the resolve by the world to eliminate AIDS by 2030. She also made a case for the participation of more women in politics, saying: “Nigeria has great women. I admire this country. Please open more space for them in activities." Osinbajo said he believed that ensuring the education of women and empowering them is an existential issue for Nigeria and the rest of Africa, while holding them down means holding their societies down. Osinbajo, in a keynote address at a webinar organised by Women In Africa (WIA) in collaboration with the MacArthur Foundation to mark 2021 International Women’s Day, spoke yesterday on the theme of the 2021 celebrations: “Choose to challenge.”

He said: “A child of a mother who can read is 50 per cent more likely to live past the age of five. Each additional school year increases a woman earning by 20 per cent, 2/3 less maternal deaths if mothers finish primary school. “If we hold down half of the productive segment of our nation on account of culture or other frankly outdated considerations, we are much poorer and much more deprived as a whole. We do ourselves a favour by ensuring social and legal equality of women.” He also stressed the need for correcting stereotypes against women in Africa and other developing societies. “For many generations, women have fought these manifestations of gender inequality. Over time, the struggle has been refined to the level of a right to gender

equality. “The notion that women and men should have the same legal, social and political rights is the public law basis for feminism but something has changed in the past few years,” he added. Highlighting the gains of improving women's participation in governance and other aspects of society, the vice president said: “Women are now saying that the fight for gender equality is not for women and girls alone, it is also a fight for all fair-minded and just men who believe that men and women must have equal rights.” He stated that the Buhari administration has in most of its programmes given priority to women and other vulnerable groups in society. Reeling out specific programmes targeted at women, he said the Social

Investment Programme focused on giving women a more equal opportunities, while 56 per cent of beneficiaries of the Government Empowerment and Enterprise Programme or 1.5 million women have been empowered by the TraderMoni and MarketMoni micro-credit schemes. He added: “Of the 500,000 beneficiaries of the N-Power graduate employment scheme, over 45 per cent of beneficiaries are female. For the Conditional Cash Transfers 96 per cent of beneficiaries are women. “This programme, in particular, has demonstrated the resilience and focus of the women who have been receiving the N5,000 monthly stipend. How they have continued to invest in their communities and grow their money. As of December 2020, they had formed almost 35,000 savings groups in 27 states."

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NEWS

Domestic Investors Maintain Dominance of Stock Market Transactions Account for 80% of N232bn traded in January Goddy Egene Domestic investors continued to dominate trading at the local bourse, accounting for 80 per cent of transactions recorded in January, THISDAY has learnt. According to trading statistics for the month obtained from the Nigerian Stock Exchange (NSE), a total of N232.46 billion was invested in shares, down marginally from N269.24 billion on December 31, 2020. Although the total value of transactions declined, the domestic investors maintained the lead, accounting for N184.94 billion or 80 per cent, while foreign investors traded N47.52 billion or 20 per cent. The domestic investors had accounted for about 74 per cent of the total transactions carried out in 2020 while foreign investors were responsible for about 26 per cent. However, a breakdown of domestic transactions in January showed that institutional investors outperformed retail investors by 28 per cent. Institutional investors traded N117.50 billion compared with N67.44 billion traded by retail investors. But further analysis of the domestic transactions showed that the N67.44 billion recorded in 2021 indicated an increase of 10.16 per cent from the N61.22 billion executed in December 2020. Foreign investors were dominating trading in the nation’s equities market until 2019 when domestic investors took over, accounting for

N985 billion compared with N943 billion by foreign investors. The gap widened in 2020 when domestic investors accounted for N1.439 trillion as against N729 billion traded by foreign investors. Although domestic investments appear to be increasing, it is still considered inadequate as domestic investors in the market are less than five million. In view of the population of Nigeria, there have been calls to deepen domestic participation in the market. While the NSE has stepped up efforts to attract more retail investors to the market, the impact has been low, forcing some stakeholders to call for a review of the strategy. The low patronage of the market by foreign investors had been attributed to their inability to access foreign exchange (FX) for the repatriation of their funds after trading their shares or receiving their dividends. Meanwhile, analysts at Cordros Securities said the tacit devaluation of the naira, which has been devalued by 7.0 per cent in the I&E window thus far in 2021, alongside rising crude oil prices raise the possibility that foreign portfolio investors (FPIs) may make a gradual return to the local bourse. According to them, there should be a material improvement in liquidity conditions, bringing some comfort to foreign investors. They, however, stated that they did not think that FPIs would return as in 2017 due

to concerns around the exchange rate framework and structural reforms to improve the domestic economy’s resilience. A frontline investment banker and founding partner of CardinalStone Partners Limited, Mr. Mohammed Garuba, had told THISDAY that the long FX scarcity, which has never been seen before, was scaring many investors away from the Nigerian market. “In 2016, we had a problem like this when FX inflow dropped materially.

But we started seeing some liquidity in the Investors & Exporters (I & E). In the past, we have always seen a financial crisis but never exceeded six months. For the first time, we started seeing this crisis in March last year, when CBN stop selling FX and has not sold FX since then. “So when the financial crisis started happening, a lot of foreigners started selling their shares as it happened all over the world. Some of those people who sold their shares last year when we were at

home due to the lockdown, till today have not been able to take their money out of Nigeria,” Garuba had said. The Chief Executive Officer of DLM Capital Group, Mr. Sonnie Ayere, also said foreign portfolio investment had been declining amid FX control and other macroeconomic risks, which he explained had made Nigeria less attractive to foreign investors. “In addition, the wide gap between exchange rates at the parallel market and the I&E window also suggests

mispricing of the currency, which makes foreign investors reluctant to invest in Nigeria financial assets,” he said. He added that the naira had experienced volatility due to weak fx earnings, persistent concerns about the impact of the Coronavirus and heightened fears about the potential drop of hard currency inflows. The pressure on naira, he stated, exacerbated after crude oil prices fell below $30 per barrel at the international oil market.

ACADEMY FOR ARTS... L-R: CEO, EbonyLife, Ms. Mo Abudu; Lagos State Governor, Mr. Babajide Sanwo-Olu; Commissioner for Tourism, Arts & Culture, Mrs. Uzamat Akinbile-Yusuf; and Special Adviser to the Governor on Arts & Culture, Mr. Solomon Bonu, during the opening of Ebony Life Academy in Lagos…yesterday

Buhari Launches $3.2bn Port Harcourt-Maiduguri Railway Project FG to provide 15% funding; loans to account for 85% Deji Elumoye in Abuja, Sunday Okobi and Kasim Sumaina in Port Harcourt President Muhammadu Buhari yesterday launched the $3.2 billion rehabilitation and reconstruction of Port Harcourt– Maiduguri eastern narrow gauge railway project, Bonny Deep Sea Port and the Railway Industrial Park, Port Harcourt, to be executed with 85 per cent loan and federal government’s 15 per cent counterpart funding. The three projects will be co-financed with loan from a syndicate of Chinese financiers. The rehabilitation and reconstruction of the Port Harcourt– Maiduguri railway project, Bonny deep Sea Port and Railway Industrial Park, Port Harcourt are being developed through direct investment by the conglomerate led Messrs CCECC Nigeria Limited with a total investment portfolio of $3.2 billion. Performing the virtual groundbreaking ceremony of the three projects yesterday,

Buhari said the railway project, when completed, would reactivate the dormant economic activities on the eastern corridor. He said: "The funding of the railway is through loan to fund 85 per cent project cost and the federal government contribution of 15 per cent as counterpart funding." According to him, the rehabilitation of the Port Harcourt–Maiduguri railway line will reactivate economic activities along the eastern corridor. The president said the country’s aspiration for nationwide transport infrastructure and railways would be enhanced by the three projects conceived to be integrated in their operations. ‘‘The connection of the railway to a new seaport in Bonny Island and Railway Industrial Park, Port Harcourt is designed to increase the viability and boost trans-shipment of cargo and freight locally, across the West African sub-region and in the Continental Free Trade Area.

‘‘The sum of the socioeconomic and environmental benefits of these projects includes creation of massive employment locally. In addition, there will be further utilisation of local contents and technology transfer, increase in internally generated revenue and would serve as a fulcrum for the achievement of the federal government planned integrated development master plan," he stated. Buhari urged Nigerians, especially industrialists, manufacturers and businesses within the zones, to take maximum advantage of the infrastructure in planning for expansion and building new factories. He added that the projects, when completed, will raise Nigeria’s economy to the global stage while reaffirming its leading role in Africa. He said the Port Harcourt to Maiduguri railway reconstruction project with new branch lines to Owerri, Imo State and Damaturu, Yobe State, would resuscitate the once vibrant railway

transportation in the eastern railway corridor. He said: ‘‘We are further expanding it to achieve contemporary demand for transport in the North-east and Southern geopolitical zones of the country. It is also designed to link other standard gauge rail lines under construction through the provision of trans-shipment centres." According to him, the Bonny Deep Sea Port and the railway industrial park are to be constructed through direct investments from Chinese partners and international financing agencies. He said the three projects would serve transportation and supply chain network for domestic needs and export as well as support imports into the hinterland through the new deep sea port in Bonny Island. ‘‘This improved port is designed to be a regional and international transport hub. In line with the global trends, the Railway Industrial Park will have the capability for processing exports of raw

materials with value addition and also export of locally made goods. ‘‘In planning this project, prudent use of resources has been given priority, as by this endeavour, Nigeria will retrieve the old narrow gauge that has been lying in neglect for years and bring it to full functional state commensurate to a national railway service at a rational price,’’ he said. Buhari, who requested the Minister of Transportation, Hon. Rotimi Amaechi, to cut the tape and unveil the plaque for the projects on his behalf, assured the nation of prudent use of resources in executing the projects. Earlier, Amaechi had said the Bonny Deep Sea Port and Railway Industrial Park, Port Harcourt are being developed through direct investment by a conglomerate led by Messrs CCECC Nigeria Limited with a total investment portfolio of $700 million. ‘‘The Bonny Deep Sea Port has a container terminal of 500,000 TEU (20 foot

equivalent unit) per annum capacity and 100,000 DWT (deadweight tonnage) Berth. ‘‘The Railway Industrial Park, Port Harcourt, would be supported by necessary infrastructure including power, water, waste disposal, ICT and gas distribution as well as transportation, logistics centres and ancillaries,’’ he added. On the railway, he said upon completion, trains on the Port Harcourt – Maiduguri eastern narrow gauge railway would run at 60-80 kilometres per hour and 80-100 kilometres per hour for freight and passenger respectively. Amaechi stated that his ministry was working in line with the president’s directives to implement the Nigeria railway modernisation project and expand the railway network. ‘‘In this regard, the rail line connection from Enugu to Awka-Onitsha and Abakaliki is undergoing necessary feasibility studies and preparation of conceptual design,’’ the minister said.

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PAGE NINE 26 STATES AWAIT COVID-19 VACCINE DELIVERY AS NINE GOVS RECEIVE JAB TODAY of its allocation on Monday. It was, however, gathered that the consignment for Osun, Ondo and Ekiti States was delivered yesterday through the Akure Airport. With the beginning of distribution of the vaccine to states, nine of the governors are also billed for the vaccination today. The governors of the 36 states of the federation had resolved last week to take the vaccine, alongside their deputies today, in their respective states. It is expected that only nine of them and their deputies will take the vaccine today. However, Cross River State Commissioner for Health, who is also the chairperson of Committee of Health Commissioners in Nigeria, Dr. Betty Edu, told THISDAY last night that states in the South-west received their consignments yesterday while

South-south and South-east states would receive theirs tomorrow. Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday confirmed that the state took delivery of its allocation at 4 am, noting that the vaccine has been kept in a safe place. He said the state government would soon commence vaccination of people in line with the scheduled guidelines laid down by the NPHCDA. The Nasarawa State government also confirmed that it has taken delivery of its share of the vaccine. The state Commissioner for Health, Dr. Yahaya Ahmed, told THISDAY that the state received about 50,000 doses of the vaccine. He added that the state has set up a technical committee to ensure the smooth operation of the vaccine inoculation in the state.

He stated that the Governor Abdullahi Sule, his deputy, Mr. Emmanuel Akabe, and other prominent personalities in the state would be vaccinated today. The Chairman of the Inter-ministerial Committee on COVID-19 in Ondo State, Prof. Adesegun Fatusi, also told THISDAY yesterday that the state received 75,570 doses. He added that the vaccine was delivered to the state at the Akure Airport. He said the consignment of both Ondo and Osun states were delivered through the airport. Receiving the vaccine for Benue State, Executive Secretary, Benue State Primary Health Care Board, Dr. Bem Ageda, commended the federal government and NPHCDA for their prompt response to the health needs of Nigerians. Ageda said Benue State

was one of the first states to receive the vaccine. Kaduna State Commissioner for Health, Dr. Amina Baloni, also told THISDAY yesterday that the state had received 180,000 doses. However, as at press time, many states were still expecting their allocations. For instance, Kano State Governor, Dr. Abdullahi Umar Ganduje, invited journalists to the Kano airport to wait for the state’s consignment. Sokoto State Commissioner of Health, Dr. Ali Iname, told THISDAY that officials of the state government were waiting at the Muhammad Sa'ad Abubakar 111 International Airport for the state’s consignment. Iname stated that Northern states with airports were communicated that they would receive delivery yesterday. He, however, added that

states such as Zamfara, which have no airport, would collect their consignment in Sokoto. Executive Chairman, Bauchi State Primary Health Care Development Agency, (BSPHCDA), Dr. Rilwanu Mohammed, said the state government officials would take the delivery of the vaccine yesterday through Jos airport as arranged by CACOVID. Plateau State Commissioner for Health, Dr. Nimkong Lar, told THISDAY that the state would take delivery of its vaccine consignment before the end of the week. But THISDAY reliably learnt the state took delivery of 105, 600 doses last night. The Chief Press Secretary to the Niger State Governor, Ms. Mary Berje, however, told THISDAY that the state would be among the last set of states to receive the vaccine. The Commissioner for

Health, Dr. Maku Sidi, who is the Vice-Chairman of the State COVID-19 Task Force, could not be reached to give further details on when the state would take delivery of its consignment. Abia State Government officials were also waiting yesterday to take delivery of the vaccine. The state Commissioner for Health, Dr. Joe Osuji, told THISDAY that they were told initially that the vaccine would arrive through the Enugu Airport, adding that another directive came that the consignment would now be delivered through the Sam Mbakwe Airport, Owerri. "We are still expecting the vaccine," he said. Ebonyi State Commissioner for Health, Dr. Dan Umezuruike, also told THISDAY that the state government was still expecting the vaccine.

and also to ensure optimal utilisation of such recovered assets for the benefit of our deserving citizens." He stated that Nigeria provided the required mutual assistance and backup to the British authorities while the prosecution of Ibori lasted in London. "I cannot but observe that what we are witnessing today is a glaring manifestation of the age-long national ties between the Federal Republic of Nigeria and the United Kingdom. "I am confident that both the Nigerian and British governments remain committed to all affirmative actions to combat corruption/ illicit financial flows, ensure that looters do not find comfort or save haven in our territories and also to guarantee that the forfeited or recovered proceeds of corruption are deployed to the benefit of the masses," he said. The AGF stated that in consonance with the

framework engaged in the management of previous recoveries, the Federal Executive Council directed that the instant repatriated funds should be deployed towards the completion of the Second Niger Bridge, Abuja–Kano Expressway and the Lagos – Ibadan Expressway under the coordination of the Nigeria Social Investment Authority (NSIA). The decision, he added, is to ensure the integrity of the process, while a reputable civil society organisation has been engaged to monitor the expenditure of the recovered funds on the execution of the critical projects, which are evenly spread across the country. He commended the sincerity of purpose of the British government even as he noted that Nigeria looks forward to similar assistance and cooperation in bringing to book all other persons and entities who at the moment are inequitably exploiting the system in the UK to shield

themselves from justice. The British High Commissioner, Ms. Catriona Laing, in her remarks, stated that the signing of the agreement, apart from showing the two countries’ determination to lead the way in a coordinated global effort to bring corrupt individuals to justice sent a clear message to Nigerians that the former governor had been held to account. Laing said the agreement further demonstrated that money obtained through criminality or corruption is not welcome in the UK, adding that the UK will ensure that the full weight of the law enforcement to crack down upon those who look to use, move or hide their proceeds of crime in the UK. "It is vitally important that this agreement makes strong provision for transparency, monitoring and accountability. It is a guiding principle of both the UK and Nigerian

While commending the CBN for the healthcare financing initiative, he said the country needed to boost its healthcare system to withstand further pandemics and any other related health issues. He said: "Once again, I congratulate the CBN governor and your wonderful team for the great job you have done to save our healthcare system and provide us with an opportunity for our researchers, ventilating their wealth of experience and creating a platform for us to further the course of research in the health sector. "You're doing a great job. We have battles with the ability to balance lives and livelihoods and I must say Emefiele, you have been at the forefront of that from day one either through the institution of the CBN interventions in several areas of our economy or in your leadership through the CACOVID. "Never in the history of Nigeria have we had a national response that broadened the corporate work that we did with the COVID-19 response." The Minister of State for Health, Senator Olorunnimbe Mamora, appreciated the efforts of Emefiele in providing critical interventions at the point in time.

He said Emefiele was not just promoting the primary healthcare system but the impact of the interventions, when well implemented, would strengthen the system. He added that the symbolic intervention was a step in the right direction for the country.

DELTA TACKLES FG OVER £4.2M REPATRIATED FUNDS FROM UK of the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, that the federal government is appropriating the funds because the offenders committed a federal offence, contending that in the similar case of forfeiture by former governor of Bayelsa State, Chief Dieprieye Alamieyeseigha, the repatriated funds went to the state. Ibori, in 2012, had pleaded guilty to money laundering and other charges in a UK court and was consequently sentenced to 13 years imprisonment. Some of his associates were also convicted and sentenced to prison over similar charges. The United Kingdom is now set to return the £4.2 million recovered from associates of Ibori to Nigeria. The UK and Nigeria yesterday signed a Memorandum of Understanding (MoU) in Abuja to kick-start the process. Malami, who signed

on behalf of the federal government, said in consonance with existing framework engaged in the management of previous recoveries, the Federal Executive Council had directed that the repatriated funds should be spent on completing the Second Niger Bridge, Abuja-Kano Expressway and the Lagos-Ibadan Expressway under the coordination of the NSIA. But speaking last night on ARISE NEWS Channels, the broadcast arm of THISDAY Newspapers, the Delta State Commissioner for Information, Mr. Charles Aniagwu, kicked against the federal government’s decision. He stated that roads in Delta State were also in deplorable condition, adding that the federal government should know that the roads also needed attention. “Federal roads in Delta State are bad. Benin-Warri road has collapsed. Sapele-Agbor road is a federal road and it has been abandoned. The

federal government can use the money to rehabilitate the Sapele-Agbor road,” he said. Clark served notice that his group would challenge the federal government’s decision in court as the money belongs to Delta State. “We see it as a sign of deliberate oppression and provocation of our people. Perhaps, they are tired of Niger Delta. If that is the situation, let them go on since what they want is a problem in the Niger Delta. We cannot be taken for granted in our country. “As I earlier said, we are ready to go to court on this money. It belongs to Delta and should be used in Delta State and we will not allow this oppression to continue,” he added. However, at the signing of the MoU yesterday, Malami described the event as "another major milestone in our determined quest as a nation to attain full recovery of all looted assets, prevent abuse of recovered assets

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CBN DISBURSES N253.54M GRANT FOR COVID-19 VACCINE RESEARCH and expressed satisfaction that most of the recipients are from academia, a sector, according to him, lacked funding for research. Emefiele said a vibrant and innovative health care system remained vital for national security. "We all witnessed how a number of countries and territories adopted stringent and immediate export restrictions on critical medical supplies and drugs that were specifically meant to help countries respond to the spread of the virus," he stated. He added that the apex bank has over time emphasised the need for the country to move from a consumer-based economy to a more productive economy. He expressed hope that the grant scheme will facilitate Nigerians' access to the much-needed vaccines and drugs not just for COVID-19, but other communicable or non-communicable diseases. He added that the CBN remained committed to the successful implementation of the scheme and will ensure the review and evaluation of subsequent applications. Emefiele said the bank had developed intervention programmes and schemes

across various sectors, including the health sector. According to him, as part of proactive measures to support the growth of the Nigerian healthcare sector, the CBN introduced the Healthcare Sector Intervention Facility aimed at strengthening the sector’s capacity to meet the increasing demand for healthcare products and services, particularly pharmaceutical companies and other healthcare value chain players intending to build or expand capacity. Emefiele stated that currently, 82 projects, valued at N85.89 billion had been financed through the scheme, stressing that the projects financed comprised 26 pharmaceutical and 56 medical ones across the country. He urged the award recipients to judiciously utilise the opportunity offered to them by the apex bank and strive to achieve the purposes of their research by ensuring that their projects meet the set targets, aims and objectives of supporting the development of vaccines and drugs. He added, however, that the review of proposals is still ongoing while the Body of Experts is expected to provide recommendations for additional award of grants

soon. He said: "Today’s grant awards are a testimony to the significant role research and development in healthcare could play in supporting economic growth, particularly as growth is highly dependent on a strong and healthy workforce. "Meeting our need for a strong and healthy workforce with better safety profiles is a task that can only be addressed through a healthcare sector that provides for significant investments in research and development. "We all witnessed how a public health emergency brought strong economies and developed nations to their knees. In Nigeria, it exposed the fragility of our healthcare system and the urgent need to look inward and build a more robust and sustainable healthcare system. "The response by some advanced and developing countries also reflected the significant advancements that have occurred in the health sector in those countries. "Their investments in R&D enabled health institutions to develop a rapid response to the coronavirus, with the deployment of vaccines in record time." He added that these

measures have helped to increase the availability of vaccines in developed countries, while developing nations have had to contend with a limited supply of vaccines for their citizens. The CBN governor said it was therefore imperative that the country explored ways to encourage research and innovation in the treatment of health conditions for Nigerians. The HSRDIS was introduced with the release of the implementation guidelines and subsequent inauguration of the Scheme’s Body of Experts (BoE) in July 2020. Under the HSRDIS, grants are provided to researchers and healthcare institutions for the development of vaccines, drugs and herbal medicines, which could help curtail the spread of COVID-19 and any other communicable or non-communicable diseases. In his remarks, the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, who is also Chairman of the Presidential Task Force on COVID-19, said though COVID-19 had come with adverse impacts on the economy, it also provided opportunities which the country must take advantage of to transform the country's healthcare system.

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WEDNESDAY, ͹͸˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Court Summons Malami, Magu, Falana to Testify in Maina’s Trial Alex Enumah in Abuja Justice Okon Abang of the Abuja Division of the Federal High Court, has ordered the Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami (SAN), and a former Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, to appear

before him and give evidence in the ongoing trial of former Chairman of the Pension Reform Task Team (PRTT), Mr. Abdulrasheed Maina. The order was a sequel to an application by Maina praying the court to compel the AGF, Magu, human rights activist, Mr. Femi Falana (SAN), and seven others to appear before the court over the corruption allegations against him.

Others to appear in the subpoena signed on March 8, 2021 include; M. Mustapha, Hassan Salihu, Mohammed Wakil, G.T Idris, Kenneth Amabem, Ibrahim Kaigama and the Director of Compliance, Central Bank of Nigeria. They are to appear before the court on March 9, 10 and 11 to testify in Maina’s defence. The order addressed personally to each of the

subpoenaed witnesses and sighted by THISDAY reads: “You are commanded in the name of the President and Commander- in-Chief of the Armed Forces of the Federal Republic of Nigeria to attend before this court at Court 6, on 9th, 10th, 11th day of March 2021 at 9 o'clock in the forenoon, and so from day to day till the above case is tied, to give evidence on behalf

of the 1st defendant." Maina is being prosecuted by the EFCC for allegedly laundering N2 billion. Meanwhile, Maina's first witness, Ms. Ngozika Ihuoma, had alleged that Magu misappropriated 222 assets worth N1.63 trillion recovered by the Maina-led PRTT. He alleged that Magu had sold most of the assets to his

friends and associates. Ihuoma had also told the court that AGF and the National Security Adviser (NSA) met with Maina in Dubai, United Arab Emirate (UAE) in January 2016. “After the meeting in Dubai, Maina gave the delegation intelligence report that led to the recovery of N1.3 trillion out of the N3 trillion he promised to recover," the witness said.

Many Federal Roads Have Expired, Says FERMA Emmanuel Addeh in Abuja The Federal Roads Maintenance Agency (FERMA) yesterday said many roads within the country had become impassable because they had outlived their inbuilt lifespan. Speaking during a virtual stakeholders' seminar, Managing Director of the agency, Mr. Nurudeen Rafindadi, stated that due to the paucity of funds, FERMA had continued to carry out palliative work on the roads instead of total reconstruction. According to him, Nigeria's national road network remains at about 200,000 kilometres, with about 36, 000 kilometres of them gazetted as federal roads, which is about 18 per cent of the total road network in the country. Rafindadi stated that state governments are responsible for another 32,000 kilometres while the remaining 134,000 kilometres are rural feeder roads under local governments. He added that the maintenance of federal roads is carried out by FERMA through routine, periodic and emergency interventions, which are predominantly funded by fiscal appropriations in the annual budgets. He listed key challenges facing FERMA to include constraints regarding funding, environmental issues, social issues and insecurity. He said a large jurisdiction in Nigeria was beset by security challenges and in the environment where FERMA staff work to keep the roads

‘motorable’ all year round. He listed other constraints as issues related to technology, debt overhang on the agency, maintenance of backlogs and distress on the roads. “One of the challenges is that a large portion of the 36,000 kilometres of federal highway network are roads that have already aged, basically exceeding their

life period and therefore you get less and less out of the road even upon interventions through the years. “A large number of our roads are over 20-30 years old which is the life period they have and they need to be reconstructed. Yet in the absence of funding, FERMA maintenance mandate on live roads will have to continue on dead roads as well,” he

added. According to him, the way forward is to ensure that the management of roads involve private sector participation, as government alone does not have the resources to do it. Rafindadi explained that the agency has taken deliberate choices in the exploration of alternative funding sources, development of international vehicle

transit charge and creation of FERMA state-owned enterprises. He stated that the deployment of a data management system, a digital management tool for projects from commencement to completion and closure and then the use of social media networks for effective communication, scaling up of direct labour interventions

as well as the development of road assets management system were some of the other ways it was meeting the agency's challenges. The FERMA MD added that attention was also being paid to enhance the use of other modes of transportation, provision of special funds for ecological issues and improved road user behaviour.

TALKING AIDS... Executive Director, United Nations Joint Programme on HIV/AIDS, Mrs. Winnie Byanyima (left), and President Muhammadu Buhari during the visit of the executive director to the Presidential Villa, Abuja...yesterday godwin omoigui

DELTA TACKLES FG OVER £4.2M REPATRIATED FUNDS FROM UK governments that stolen assets should be used for projects that benefit Nigeria's poor," she said. According to her, the £4.2 million would be made available to Nigeria "in the next couple of days." Earlier, the Solicitor-General of the Federation and Permanent Secretary, Ministry of Justice, Mr. Dayo Apata (SAN), had said the ministry, in fighting corruption, had formulated National Strategies and Action Plans; Pursuit of Recovery of Looted Funds; and Assets and Issuance of Assets Tracing, Recovery and Management Regulations. He listed other actions to include the setting up of

Inter-ministerial Presidential Committee on the Disposal of Forfeited Assets; Central Database for Recovered Assets; drafting of bills to stifle corrupt practices; implementation of Whistle Blower Policy and the issuance of Executive Orders Six, Eight and Ten. Meanwhile, the Oghara Development Union, (ODU) Lagos Branch, has called on the federal government to ensure the return to Nigeria of all the funds recovered from Ibori’s associates in the London trial. The union said in a statement yesterday by the General-Secretary, Mr. Sunday Agbofodoh, that it stood with Ibori in maintaining his

innocence, “and so without conceding that Ibori was guilty as charged, and specifying that the forfeited houses were not bought with illicit funds, we nevertheless call on Nigeria to insist that the full worth of the three buildings seized through a court order, be repatriated to Nigeria.” Reacting to plans to return the £4.2 million forfeited by three female associates of Ibori in the London case, the union said as the United Kingdom claimed to be acting without ulterior motives on Nigeria’s behalf, that all the monies forfeited should be returned to Nigeria. The union said it had followed the case diligently

and was aware that the sum the women forfeited was £6.2 million and not £4.2 million. It said Nigeria should oppose UK’s hypocrisy and insist that the entire sum be returned to Nigeria or UK would have been engaged in witch-hunting Ibori for profit, by withholding £2 million. The union also urged Nigeria to demand the interest on the £6.2 million since 2012 because the money would not have sat idly in the bank without attracting interest. The union said that all assets linked to Ibori were purchased using funds lawfully and properly obtained, adding that some were bought before

Ibori became governor. It stated that Ibori’s businesses and the monies that accrued to them were not hidden from the London and Nigerian "persecutors". According to the union, the London police filed in court a paper which showed that one of Ibori’s companies, MER Engineering, was earning over $7 million annually. “The forfeited London house linked to the first lady of Delta State when Ibori was governor, the Hampstead property, is owned by a family trust. The property was purchased by the company, MER Engineering, which shareholding was held by his family trust. MER had obtained a facility loan from

NNB, a Nigerian bank. The value of this property at the time of its purchase was £2.1 million, which was covered by the NNB facility of well over £3 million meant for working capital and financing of assets,” the union said. It described Udoamaka as a successful businesswoman as can be seen from the facility letter dated 19 December 2005 from a bank in favour of her company, Sagicon Nig, Ltd for N121 million (£1.5 million). “The third property, very modest, belonged to Ibori’s sister, a UK resident, which she purchased for £140, 000. Her husband is a former federal permanent secretary,” the union added.

WEDNESDAY MARCH 10, 2021 ˾ T H I S D AY

NEWS

Bello Gives Bandits Two-month Ultimatum to Surrender Ejiofor Alike Zamfara State Governor, Mr. Bello Matawalle has given bandits terrorising the state two months’ ultimatum, beginning from yesterday, for them to embrace the peace process and surrender their weapons to the government. Matawalle has also told the service chiefs to deploy more troops across the north-west region of the country. In a state-wide broadcast made yesterday at the Government

House in Gusau, the state capital, the governor also disclosed that President Muhammadu Buhari has agreed to a timeframe within which the recalcitrant bandits should accept the state government’s peace truce and surrender their weapons to the government. Matawalle noted that even though the state was enjoying relative peace as a result of the dialogue and reconciliation programme, many bandits had refused to key into the programme

and elected to sustain their attacks and other nefarious activities against our communities. He also alleged sabotage by those he described as unscrupulous elements, both within and outside the state. According to him, it is also observed that informants are becoming rampant, adding that their callous activities are undetected due to some of the

people’s attitude of indifference. “As a further push to bring to an end the activities of the recalcitrant bandits so as to bring lasting peace to the state, the government has decided to take the following measures: “The recalcitrant bandits have been given two months from today within which to embrace the peace process and surrender their weapons to the government; all

political actors are hereby advised to desist from any acts capable of endangering the state’s security, as security agencies have been directed to monitor the activities of all the political actors and take appropriate action against the violators,” he expained He directed traditional rulers and local government chairmen to always remain in their respective domains to monitor the influx of

any suspicious characters. He also banned conveyance of more than two persons on a motorbike, and directed security agents to arrest and arraign the violators of this order for prosecution. He also banned the movements of a large number of motorbikes in all the nooks and crannies of the state.

FG Launches Temporary Passports for Nigerians in Diaspora Chinedu Eze in Lagos and Michael Olugbode in Abuja The Minister of Interior, Mr. Rauf Aregbesola yesterday launched the Nigerian Temporary Passport (NTP) to cater for Nigerians who desire to return home but whose national passports are not available This was disclosed in a statement signed by the Nigerian Immigration Service (NIS)’s Public Relations Officer, Mr. Sunday James. James explained that the temporary passport is a new genre of passport that would be issued at the Nigerian Embassies/ High Commissions outside the country to Nigerian citizens who wished but do not have up to date national passports. “The minister stated that the temporary passport is a travel

document designed for a oneway travel to Nigeria only, adding that the new document replaces the hitherto Emergency Travel Certificate (ETC), which was issued to Nigerians in emergency situations for the purpose of returning home,” said the statement. According to the statement, the minister also maintained that the Temporary Passport is International Civil Aviation Organisation (ICAO)-compliant and is valid for only 30 days before the date of travel. He added that it is not in any way a replacement for the Nigerian Passport as it will only serve a temporary purpose in the case of loss or misplacement of the Nigerian Passport by a Nigerian abroad.

Gunmen Abduct Toddler, Five Others in Taraba Gunmen yesterday abducted no fewer than six persons travelling from Wukari to Takum Local Government Area of Taraba State. The acting Police Public Relations Officer in the state, Leha Reform, confirmed the incident. According to him, the incident took place at Chanchanji, a suburb of Takum Local Government Area where the gunmen mounted a roadblock. Leha explained that the six abducted travellers included two females, three males and a toddler. He stated that on the receipt of the information, combined security

operatives were dispatched to the scene and have launched an investigation into the matter with a view to unravelling those behind the act. The Takum Wukari expressway has been a soft spot for criminals unleashing mayhem on travellers, especially during the Tiv/Jukun crisis. Only recently 27 travellers were also abducted on same road with 23 released and four others still in captivity. It was also on same road that a Catholic priest was killed and burnt beyond recognition in 2019.

Sirika Laments Continuous Suspension of Flights at Kano Airport Kasim Sumaina in Abuja The Minister of Aviation, Senator Hadi Sirika, has reiterated the desire of the ministry to reopen the Mallam Aminu Kano International Airport, Kano, for international flight operations as the continued suspension of international flights to and from the airport has been denying the ministry and its agencies a lot of revenue. Sirika stated this in Abuja when he received the Governor of Kano State, Mr. Abdullahi Umar Ganduje, paid him a courtesy visit yesterday. He noted that it does not make economic sense for government to

spend so much money, as it has done on the airport, and leave it inoperative with the attendant degeneration on infrastructure, redundancy amongst operational staff, revenue losses and hardship to travellers, amongst others. The minister told the delegation, which included some members of the Kano State House of Assembly, representatives of the Emir of Kano, Alhaji Aminu Ado Bayero and members of the Kano Chamber of Commerce, that the decision to suspend international flights to and from the airport, like the ones in Enugu and Port Harcourt, were for health and security reasons.

CBN TO THE RESCUE…

L-R: Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN), Dr. Kingsley Obiora; Deputy Governor , Financial System Stability, CBN, Mrs. Aishah Ahmad; Minister of State, Health, Senator Adeleke Mamora ; a recipient of the CBN Health Care research Grant, Dr. O’tega Ejofodomi; Secretary to the Government of the Federation, Mr. Boss Mustapha; CBN Governor, Godwin Emefiele; and Director General, NAFDAC, Professor Mojisola Adeyeye, at the flag-off and cheque presentation ceremony of CBN Healthcare Sector Research and Development Interventions Scheme in Abuja…yesterday

Labour Embarks on Protest over Minimum Wage Act Onyebuchi Ezigbo in Abuja The Nigeria Labour Congress (NLC) Trade Union Congress and their allies will today, Wednesday embark on a nationwide protest against alleged move by some members of the National Assembly to remove the Minimum Wage from the Exclusive Legislative List to the Concurrent Legislative List. In a notice distributed yesterday by the NLC, the leadership of the organised labour said workers will mobilise from the Unity Fountain at 7:30 am to the National Assembly

today. While expressing labour’s opposition to the planned amendment, the President of the Nigeria Labour Congress (NLC), Comrade Ayuba Wabba said there will be a national protest commencing from March 10 (today) in Federal Capital Territory (FCT) and especially the National Assembly. He said the decision was taken at an emergency National Executive Council (NEC) meeting of NLC held in Abuja. Wabba said that the attention of

the entire working class in Nigeria had been drawn to a bill sponsored by Hon. Garba Datti Mohammed representing Sabon Gari Federal Constituency in Kaduna State, which seeks to move minimum wage from Exclusive list to concurrent legislative of the constitution. He said that the NLC NEC is also kicking against another bill to establish State Judicial Councils. Wabba said that the NLC views the move to amend minimum wage law as politically motivated. Wabba said that: “After careful deliberations of the issues, the

NEC decided that there will be a national protest commencing from March 10 in Federal Capital Territory (FCT) and especially the National Assembly. NEC resolved that the protest will be concurrently hold in all the 36 states of the federation and to the different State Houses of Assembly across Nigeria”. He said that the protest is to make a strong statement that Nigerian workers “would not lie los and allow hard fought rights which are global standards to bastardised by opportunistic and narrow minded politicians”.

Akeredolu Orders Indeﬁnite Suspension of NURTW Activities in Ondo One killed in union members’ clash James Sowole in Akure Ondo State Governor, Mr. Oluwarotimi Akeredolu, has ordered indefinite suspension of activities of the National Union of Road Transport Workers (NURTW) in the state. He directed all NURTW members are to immediately vacate all motor parks across the state. One person was killed

and several others injured yesterday when members of the NURTW, engaged in free-for-all fight over leadership tussle. Akeredolu, who spoke yesterday through his Senior Special Assistant on Special Duties and Strategy, Dr. Doyin Odebowale, said the indefinite suspension would not affect RTEAN. He said the decision to suspend

NURTW activities indefinitely was based on the unruly and uncultured behaviour of the union leaders. He said the violent attacks on members and the innocent citizens were unacceptable. The governor took the drastic action to forestall more deaths as two persons were feared killed yesterday following a clash between two factions of the NURTW in Akure, the state

capital. Meanwhile, one person was killed and several others injured yesterday when members of the NURTW, engaged in free-for-all fight over leadership tussle. The confrontation among the members of the transport workers union caused pandemonium at the popular Old Garage area along Oyemekun-Adesida Road in the Akure metropolis.

No Fraud in Bayelsa’s N3bn Agric Loan, Says CBN The Central Bank of Nigeria (CBN) has said its Accelerated Agricultural Development Scheme (AADS) is on course in Bayelsa State, clarifying that allegations bordering on fraud in the programme were untrue. The apex bank made the clarification during a courtesy visit of its Yenagoa Branch Controller, Mr. Francis Ene-Asuquo, and his team to Governor Douye Diri in

Government House, Yenagoa. A statement by the governor’s Chief Press Secretary, Mr. Daniel Alabrah, quoted Mr. Ene-Asuquo as giving thumbs up to the state government for its investment in agriculture and for the robust partnership between both parties. He acknowledged that for the first time since its creation, Bayelsa has fully keyed into the CBN’s Anchor Borrowers

Scheme, which has propelled farmers to establish themselves into clusters in the state. The Branch Controller stated that N600 million had been disbursed directly to poultry farmers in the state, which made it possible for them to now supply eggs to neighbouring states in commercial quantity. He said the government also keyed into the bank’s agric programme in which

over N2.2 billion has been disbursed to 2,000 Bayelsans. While clearing the air on the N3 billion agricultural loan fraud allegation peddled by one Mr. John Idumange, a former General Manager of the Bayelsa Radio Corporation, against the state government, the CBN’s Head of Development Finance, Mr. Stanley Oruyeigha, dismissed the claim as mere speculation and outright falsehood.

WEDNESDAY MARCH 10, 2021 ˾ T H I S D AY

NEWS

Hijab: CAN Warns Kwara Gov against Instigating Religious Crisis Onyebuchi Ezigbo in Abuja The leadership of the Christian Association of Nigeria (CAN) has accused the Governor of Kwara State, Mr. AbdulRahman AbdulRazaq, of exhibiting religious bias by the blanket approval of the wearing of Hijab in Christian mission schools. It also urged the governor to

withdraw his approval on the wearing of Hijab in schools in Kwara State including Christian mission schools or face legal action. A statement that was issued yesterday by the General Secretary of CAN, Mr. Joseph Bade Daramola, said the governor has shown open bias for one religion. Daramola said: “It appears to be contempt of the court because

the governor is aware that there is a pending court case on this matter over which the court had earlier ruled that the status quo should be maintained. “Is the governor now saying that he is above the law? What is going to spoil if we all wait for the court to pronounce judgment on the matter? Why this hasty action?” the CAN asked.

The Christian association said that it has resolved to use all lawful means to reverse the order should the government refused to withdraw the directive. It said: “We recalled that some people took laws into their hands in the state by going from school to school to be enforcing the wearing of Hijab in secondary schools, including the schools owned

by mission agents but are only grant-aided by the government. “Instead of the government to caution such trouble makers and admonish them to wait for the court process to be concluded and judgment delivered, the government of Kwara State has shown its religious bias by the blanket approval of the wearing of Hijab,

even in Christian Mission Schools.” The CAN said that the action of the government of Kwara State is not only discriminatory and divisive, but it equally suggested that the government was the one behind the earlier illegal enforcement of the wearing of Hijab in Christian schools.

Buhari Has Done More on Infrastructure Shinkaﬁ: Bandits Were Offered N57m Not to Release Zamfara Schoolgirls than Previous Govt, Says Ngige Onyebuchi Ezigbo in Abuja The Minister of Labour and Employment, Senator Chris Ngige, has stated that President Muhammadu Buhari’s administration has performed better in infrastructural development than the administration. Ngige also said that Buhari deserved accolade for prioritising infrastructural development even with the prevailing lean national resources. He said that even with less

Chuks Okocha in Abuja resources compared to the Jonathan’s era, the well-considered development agenda of the Buhari administration that priotised infrastructures has led to development springing up in every part of the country more than ever. “This government is battling lean budget as a consequence of reasons we all are familiar with, prime among which is dwindling national resources. Yet, Buhari is giving Nigerians more critical infrastructures than

his predecessor that enjoyed abundance,” Ngige said. Ngige also thanked the Minister of Transport, Mr. Chibuike Amaechi, for the inclusion of the South-East in the project with spurs in Awka and Abakiliki, pulling a loud laughter from the audience as he threw a joke: “The transport minister knows his wife is our sister from Anambra and the dangers of leaving out his in-laws might see us asking her to come home.”

One Dead as Youths Set Imo Police Station Ablaze Youths in Irete, a community in Imo State, yesterday razed the Ihitte/Uboma Local Government Area Divisional Police headquarters situated at Ishinweke town. The incident followed an alleged killing of a youth in the area by a police officer. Police Spokesperson in

the state, Orlando Ikeokwu, confirmed the incident. Ikeokwu said that policemen who went for an arrest in the area were attacked by the youths. He also said two policemen were injured, adding that the youths freed a suspect. The PPRO said a stray bullet

hit one of the youths and he later died in a hospital. Ikeokwu said more policemen had been deployed to the station, adding that the state Commissioner of police, (CP) Narisu Muhammed, had ordered investigation into the arson and manslaughter incident.

FG Combating Insecurity, Says Adebayo Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, yesterday assured investors from the Netherlands that the federal government was addressing the issue of insecurity in the country. Speaking during a visit by the Netherlands Ambassador to Nigeria, Ambassador Harry van Djik, the minister said President Muhammadu Buhari recently changed his service chiefs and took other security measures to assure Nigerians and the business community of his desire to ensure that the country is safe for all and sundry. Djik who visited the minister to seek his consent on the revival of bilateral trade consultation

between the two countries had wanted the government to address the issue of insecurity and foreign exchange for investors in the country. He also spoke on the need to revive the bilateral consultation between the two countries which he said the spread of covid-19 pandemic forced a postponement of further meetings. But the minister said his ministry has already set up a working group on the bilateral consultation, hoping that before the end of the year the meeting would be revived. He said he had gotten a commitment from the governor of the Central Bank of Nigeria

(CBN) on the issue of forex, saying a meeting on the issue would be held soon on the matter. Adebayo called on Netherlands’ investors to take advantage of the African Continental Free Trade Agreement (AfCFTA) to invest in the country so that they can benefit from the huge continental market worth N4.23trillion and cheap labour in the country. He also urged them to take advantage of the free economic trade zones in the country, saying the government is providing necessary infrastructure, particularly power supply at Kano and Calabar free trade zones.

AAAN Academy Partners Henley Business School, Holds Inaugural Masterclass The Association of Advertising Agencies of Nigeria (AAAN) has announced its inaugural masterclass in partnership with the globally-reputed Henley Business School. The three-day virtual training programme, with the theme, “The Future of Advertising”, will hold from 11 to 13 March. AAAN President, Mr. Steve Babaeko, explained

that the masterclass is aimed at providing junior level management staff, advertising professionals and young graduates with proper grounding and foundation for a successful career in Brand Management/Marketing Communications. He also stated that Henley Business School will

support the masterclass with its business curriculum. “We are excited to launch the AAAN Academy with this masterclass in partnership with Henley Business School. AAAN is committed to ensuring that creatives from Nigeria and Africa remain competitive with their counterparts around the world,” he said.

The former National Secretary of the All Progressives Grand Alliance (APGA), Alhaji Abdullahi Shinkafi has alleged that some politicians attempted to sabotage the release of the 279 abducted female students in Jangebe in Zamfara States as well as the peace efforts of Governor Bello Matawalle in the state. Specifically, the former national secretary of APGA accused unnamed member of the All Progressives Congress (APC) in the state of offering N57 million to bandits in order not to release the abducted

schoolgirls. Shinkafi stated that those who mediated with the kidnappers of the Jangebe female students disclosed this to the governor in the state Also, he said that the state governor has made bold his threat by disclosing the names of those allegedly sponsoring violence in the state to the security agencies. According to Shinkafi who spoke to THISDAY, “ the governor have disclosed the names of those sponsoring violence to the security agencies. So, government now knows those involved. So, let the public know that some people

are sabotaging the efforts of the governor to maintain peace in the state.” The governor had at the heat of violence in the Zamfara state threatened to mention the names behind the banditry in the state. The former APGA scribe argued that “these ungodly politicians boast that they have people at the centre and therefore cannot be torched.” Shinkafi who had earlier spoken on a television programmed monitored in Abuja, said that the crisis was being sponsored by those he described as “ungodly politicians” in the state

WEDNESDAY MARCH 10, 2021 • T H I S D AY

T H I S D AY • WEDNESDAY, MARCH 10, 2021

COMMENT

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

THE POWER AND BURDEN OF THE MEDIA The media should report events without bias, writes Fredrick Nwabufo

he media possesses near-celestial powers. It calls into existence what must be and what must not be. It can actuate change and mobilise consciences to a cause. It can destroy, it can build; it can hurt and it can heal. Yes, it can call into existence ‘’the things that do not exist’’, – the power of god. I must say, the power of the media is also its burden. The ‘’omnipotence’’ of this public institution straps on it great responsibility. After all, ‘’with great power comes great responsibility’’. The media exists to serve public interest. And there should be no higher interest other than that which promotes peace, justice, unity and security. It is my view that the Nigerian media is a patriotic institution, but I will be papering over a lie if I do not admit that there is a tinge of ethnic prejudice in some media reports. The osmotic ethnic and religious poisons somehow find their way into the newsroom. But this does not obviate the commitment of the media to the country’s unity. That Nigeria still stands as an entity is largely because of the media which rises to the occasion when need be, deploying its omnipotence to redeem the country from collapse. But I think now is another occasion for the media to rise and pull our nose-diving country from a plunge to certain death. With great power comes great responsibility. The insecurity assailing the country has afflicted the national psyche. Brothers are suspicious of brothers, and neighbours are wary of neighbours. Tempers are rising and emotions are running wild. Fingers are pointed at mutual directions. But we cannot discount the truth that this perilous ecosystem was created as a result of leadership failure. Owing to the cumulus of fear and uncertainty, there is a tendency for the Baader-Meinhof phenomenon – when you believe something that is not actually the case. The mass hysteria and ethnic targeting underpin this phenomenon. On Saturday, I watched the video clip of a sickly old man, Iskilu Wakili, who has been infamously described as a Fulani warlord. He is accused of leading attacks on communities in Ibarapa area of Oyo State. He is also alleged to be behind many murders and kidnappings in the state. But the man I saw in the video could barely walk. He looks incredibly frail, and has been said to be partially blind. He was also reported to have been captured because he could not run. I have cogitated on the possibility of an ailing old man leading armed groups on onslaughts against citizens

THE MEDIA EXISTS TO SERVE PUBLIC INTEREST. AND THERE SHOULD BE NO HIGHER INTEREST OTHER THAN THAT WHICH PROMOTES PEACE, JUSTICE, UNITY AND SECURITY

in Oyo, and could only stew in doubts. Some media reports have described Wakili as ‘’Fulani warlord’’. But on what is this framing grounded? Has he been held culpable for leading armed attacks? Is there any evidence to prove he is a warlord? Has it been confirmed – in any way -- he is behind the attacks in parts of Oyo? And how many ‘’wars’’ has he led? Wakili has detailed his own side of the story. The Fulani leader said he is a victim of kidnapping, and denied leading attacks on Oyo communities. His own words: “Sometime last year, two of my children were kidnapped and I paid millions of naira as ransom before they were released. I am not a kidnapper. Two days after my return from hospital (in Cotonou, Republic of Benin), I was lying down because I was ill and suddenly some women came and started shouting that armed OPC men had come looking for me. “I asked them to flee but I could not run because I was sick. Two men later came and picked me from where I was lying down, they threw me in their vehicle naked. I fainted many times before they drove me to the police station in Igbo Ora. From there we were taken to SCID, Ibadan. I am not a criminal, my children are not criminals. I don’t know anything about kidnapping or any crime. I have many cows and I know they stray into farms at times but I don’t have criminal records anywhere and this can be investigated. After they took me away from my home, a woman, Tande, was killed.” The court will decide. But why are some of us in the media swift in tagging him as ‘’Fulani warlord’’? If there is any evidence to substantiate this label, I will apologise for being presumptuous. Really, I wonder why the same lexical sculpturing was not applied in the case of Sunday Igboho who was famously described as an ‘’activist and youth leader’’ in the media – even after he broke the law by asking the Fulani to leave Ibarapa? Again, the media holds a principal place in Nigeria. In fact, the survival of this country rests on us as much as it rests on the leadership. If the media by any design lends itself to accenting ethnic prejudices, then we should just say Nunc Dimittis. May we not write Nigeria into oblivion. Nwabufo is a writer and journalist.

BOOSTING NSIP THROUGH INDEPENDENT MONITORS Tony Ita Etim urges the monitors to work for the people

y any conceivable standards, the National Social Investment Programme (NSIP), has received a big boost under the leadership of the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Farouq. One of such incentives was the training, recently, of resource persons who would monitor the various aspects of the programme all over the country. Known as Independent Monitors, the over 5000 are charged with the responsibility of ensuring the success of the NSIP, the biggest and boldest social investment programme, ever mounted by any government, in Africa. To appreciate the role of the monitors, it is important to have, at least, a cursory understanding of the content of the NSIP. The programme is anchored on four subprogrammes: The National Home-grown School Feeding Programme, the N-Power Programme, the Conditional Cash Transfer Programme and the Government Enterprise Empowerment Programme. Since its inception, there is no question that the NSIP has, in varying degrees, impacted positively on lives, all over the country. For instance, the N-Power programme, under which both graduates and non graduates are placed under apprenticeship where they acquire life-changing leadership and entrepreneurial skills, has so far graduated about 500, 000 beneficiaries in two batches of A and B. Batch C is being finalised for eventual on-boarding in no distant time. Similarly, the Conditional Cash Transfer under which each beneficiary receives a monthly stipend of N5000 has turned out to be not just a palliative for women but in some instances, the platform needed by them to showcase their leadership and motherly qualities.

A particularly touching example of the success of the Conditional Cash Transfer is the case of the women of Irepodun LGA in Kwara State who, from their monthly receipts, started a primary school, to save their children from trekking long distances, as there was no nearby school. These are some of the little successes of the NSIP which often go unnoticed. Besides, more often than not, what is thrown into the public domain are skepticism over the programme. Of course, as in any programme, the NSIP is not yet perfect. For instance, under the N-Power programme, there have been past reports of some dishonest beneficiaries who, in collaboration with some unpatriotic elements, abandon the programme while still collecting their allowances. Although such cases are not rampant, there is the tendency by some people, to use such exceptions as mirror images of the programme. The above puts in perspective the rationale for the engagement and training of the independent monitors. And it could not have been captured better than the minister herself who, while declaring the training workshop open in Calabar, stated thus: “The independent monitors will be assigned to monitor programme beneficiaries within their locality in schools, households and market clusters with the focus of ensuring that the primary objectives of these programmes are achieved”. Speaking further, the minister who was represented by Mr. Ngene Kingsley Bash, a special assistant in the ministry, charged the monitors: “The programme of government should not fail in your state. Monitors’ reports and data gathered will be transmitted to Abuja and analysed to know the success level of your state. Monitors should work in synergy with other clusters in the field.

Please do not short-change your state and the people.” Will the independent monitors live up to the expectations of the ministry? Only time will tell. However, going by the manner of their recruitment, they can only fail if the various state governments do not aggressively and painstaking ensure that their people benefit from the national largesse. To start with, the independent monitors are recruited by the FMHDSD or SIP in states, either by appointment or selection. In addition, prior to being recruited, they must have the technical knowledge to do the job. Thirdly, the recent facilitation workshop puts them in the right perspective to prosecute this national responsibility. Last and perhaps most important of all, they are to actively engage all stakeholders from the local government to the state levels towards ensuring that there is no room for some of the shortcomings previously reported. Judging from the enthusiasm displayed by critical stakeholders at the Calabar event, the FMHDSD can rest assured that going forward, better results will be achieved. This optimism hinges on the observation and assurance of the Commissioner for Humanity and Social Welfare of Cross River State, Mrs. Blessing Egbara who disclosed that residents of the state have benefitted and still benefitting from the NSIP since inception. As reported by The Nation, Mrs. Egbara said: “Today, we have seen another direction of the NSIP which is the training of independent monitors who will ensure that what comes to the people is received by the right beneficiaries”. Now, her promise that the ministry would be embedded with the programme, through the independent monitors, should gladden the heart of Sadiya Farouk, the youthful and zestful minister who has turned

humanitarian endeavour into her second nature and helping the poor something of a religion. Hear Mrs. Egbara: “As a ministry, we will monitor the independent monitors to ensure that they play their roles effectively”. The above answers the question: who will monitor the monitors? To argue that it is the role of the ministry will be correct. But what Mrs. Egbara has done is to challenge everyone, particularly every state government, notwithstanding party affiliation, to be a stakeholder; to buy into this laudable federal government programme instead of being habitual critics. It is also significant that Cross River State is not controlled by the APC, thereby demonstrating a higher level of social responsibility than those who would want the programme to fail so that there will be a reason to criticise the federal government. To the independent monitors, beyond their monthly stipend, being saddled with this national and historical assignment provides a ready platform to imbibe the qualities of voluntarism: the social character that is driving much of development globally. They should see this as a spiritual, psychological, emotional and patriotic duty not only to serve humanity but also to develop life skills and cultivate a rich social network for future roles in the society. I think Hajiya Sadiya Farouk deserves commendation for creating this platform aimed at perfecting the human capital for deepening social inclusion in Nigeria. Whether or not Sadiya Farouq and her ministry hit the 100 million target propounded by President Buhari or not, what is important is that a new momentum, a new social dynamic of people empowerment through social safety nets, is evolving and needs to be supported by all. Etim wrote from Calabar

T H I S D AY • WEDNESDAY, MARCH 10, 2021

EDITORIAL OF PASTORALISM AND MALAMI’S PROPOSAL The future of pastoralism lies in ranching

ince the herder-farmer clashes assumed a bloody trend, many individuals, groups and institutions have been proffering different solutions to stem the violence. Under the current dispensation, the public space has been inundated with suggestions: from ‘Cattle Colonies’ to ‘RUGA’ and lately, Ranching as vehicles to ending the orgy of violence. A fortnight ago, the Attorney General of the Federation and Minister of Justice, Abubakar Malami, called for the setting up of a commission, regulated by law, to oversee the affairs of Fulani pastoralists in the country. “This might provide recipes for resolving protracted farmers-herders’ conflicts,” said Malami. “The commission may even engage in or facilitate in-depth analytical studies with a view to providing lasting solutions for the benefit of the people and the country.” There is ample justification to put an immediate end to the clashes that have led to loss of thousands of lives and property worth billions of naira. So, we endorse ideas aimed at proffering sustainable solutions that will contain the spiral of violence between farmers and herdsmen in various theatres across the PASTORALISM, LIKE country. UnfortuFISHING AND OTHER nately, Malami’s TRADES, IS A PRIVATE ECONOMIC ENTERPRISE. suggestion may be difficult to implement THE CATTLE TRADE IS A as it contains many PERSONAL BUSINESS pitfalls. For one, it is abundantly clear that pastoralism, like fishing and other trades, is a private economic enterprise. The cattle trade is a personal business. The profits go into private pockets and not government coffers. Thus whoever wishes to engage in livestock farming and trade should buy or rent space for that purpose. Malami has therefore failed to outline convincing reasons why the cattle business should be accorded a special place in the books. Besides, the country is economically constrained to embark on such an expensive exercise. In times of lean resources, when the country is practically living

Letters to the Editor

from hand to mouth, it is foolhardy to further push up the cost of governance through unnecessary ventures.

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

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

he times have changed. There is need to re-train the herdsmen in modern settled cattle farming. In the history of humanity, the stage of development at which man wandered for a livelihood belongs to the stone age. Over the years, this newspaper has canvassed the need for ranching as an enduring solution to the crisis. Fortunately, many states in the North are increasingly buying into the idea. Many of the greatest producers of cattle – from the United States to Brazil to Zimbabwe - ranched their cattle. Doing so here will be beneficial. The animals will be healthier; the handlers will earn decent incomes, have decent accommodation, own property and have schools for their kids. Ancillary industries will also emerge and employment opportunities will blossom. Above all, clashes would be reduced to near zero. Thus, instead of a commission, the federal government should lead the efforts for a coordinated transition from nomadism to ranching. Although agriculture is on the concurrent list, the federal government needs to provide a guideline that sets the standards on the implementation of the desired transition. There are similar programmes in countries like Chad, Ethiopia and Niger, where the existence of long-standing and well-designed mechanisms for pre-empting and resolving conflicts between farmers and pastoralists enable them to live in peace. We therefore call on President Muhammadu Buhari to provide the platform for a wholesale discussion on the future of animal husbandry, especially regarding the transition from nomadism to ranching. Repeatedly, we have urged a package of incentives, including soft loans, liberal access to land, training and provision of inputs to herders and others in order to facilitate the transition and ameliorate the challenges associated with it. The Kano State government, in particular, has warmed up to the idea. We must stop the ‘nomadic culture’ by working towards the fullest benefits of our natural endowments through aggressive modernisation.

TO OUR READERS Letters in response to speciﬁc publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

Lagos And Enhanced Rice Production

ccording to famous French chef, restaurateur and culinary writer, Georges Auguste Escoffier, “Rice is the best, the most nutritive and unquestionably the most widespread staple food in the world’’. ‘Oryza satiza’, as it is biologically called, rice is a basic meal in most homes in many countries. It is eaten as grain cereal mostly in larger part of the world, especially in Asia and Africa. In Nigeria, it is daily consumed as a necessity and not an option to other meals. No wonder, most households see it as an option second to none. There are two major species of rice namely African and Asian. Over 40,000 other varieties are grown across the world. Popular among such are long grains, short grains, basmati, brown rice, etc. All these are grown in various levels of commercial quantities, process and stored for local consumption or exportation to other nations. It is an agricultural commodity with the third highest worldwide production with an estimated production of 741.5million tonnes in 2014. China, Thailand, India and Indonesia are among the major rice producing countries. In 2018 and 2019, China produced over 148million metric tonnes of milled rice. Same is the situation in Thailand that has all its provinces engaged in the production of rice from planting to finished product, turning out approximately 3.78million metric tonnes of rice in 2016. This outstanding result is predicated on so many factors, which include the favourable disposition of their governments towards maximizing their capacity in rice production through technology driven mechanized farming.

Interestingly, it can be grown either as upland rice which is dependent on seasonal rainfall during planting season or wetland that explore the process of irrigation, even out of season. The success or otherwise depend on technology deployed into the process. While many nations are advancing in their agricultural value-chain, to increase and sustain local food production as well as produce more than enough for export, Nigeria since the discovery of oil in the early 1970, has suffered setback in the cultivation of rice among other exportable consumables. Instead of advancing in the available capacity enabled by technology to boost local production, successive governments would rather embrace rice importation at the detriment of the nation’s economy. To redress the situation and boost local production of rice, in 2015, the Lagos State government and its Kebbi counterpart entered into a partnership which was not only intended to enhance rice production, but to boost the capacity of the nation to become self-sufficient in food security. LAKE (an acronym for Lagos and Kebbi) Rice, is the product of the partnership. Specifically, the partnership is geared towards improving rice production in the country and it thrives on pragmatic use of existing resources for the common good of the citizenry. Kebbi, for instance, is endowed with vast arable land suitable for agricultural production in rice, wheat, maize, sorghum, groundnut, etc., while Lagos has the needed industrial and economic potential to drive the partnership. It has the population, the purchasing power, processing plant as well as manpower to translate whatever amount of rice that is produced from Kebbi State to finished consumable of international standard. Currently, the Babajide Sanwo-Olu administration is working hard to

further enhance the state’s rice production capacity. Since the administration came on board in May, 2019, it has made the completion of the Imota Rice Mill. Ikorodu, a topmost priority. This is quite understandable. Aside its capacity to boost rice production, the mill, when fully operational, has the capacity to generate no fewer than 250,000 job opportunities from the input aggregators, providers, farmers, logistics and service providers, marketers and distributors along all the entire value chains. This is in addition to its ripple effects on the locality among others. At full capacity, the mill would produce 115,200 metric tonnes of milled rice which would require about 280,000 metric tonnes of paddy per year; hence the need to stock enough paddy to ensure a smooth take-off. The government has, thus, perfected plans to ensure sustainable supply of Paddy from local farmers for the 32 metric tonne-per-hour rice mill. Also, a lot is being done by the government in partnership with corporate and local aggregators, as well as other rice-growing state governments, about Paddy aggregation and its supply to ensure the smooth running of the mill. Similarly, rice farmers in the state are currently receiving the needed support to ensure a hitch-free planting season of steady and sustained supply of Paddy for the mill. Recently, a rice farmers’ sensitisation, training and empowerment programme was organised for over 800 rice farmers. The training, which took place in 20 locations across Ikorodu, Epe, Badagry, Gboyinbo, Idena, Obada, Ito-Ikin, and Ise, was undertaken to keep local farmers abreast on global best practices and the most effective ways to grow rice. Bolaji Odumade, Ministry of Information & strategy, Alausa, Ikeja

WEDNESDAY MARCH 10, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY MARCH 10, 2021

MIDWEEKPOLITICS

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

The Unending Fight Between Uzodimma and Okorocha Amby Uneze writes that Imo State has been in the news for the wrong reasons, in recent times. If it is not the military invading Orlu in a wild chase for Eastern Security Network operators, it is Governor Hope Uzodimma and his predecessor, Senator Rochas Okorocha struggling for state property

or Senator Rochas Okorocha, who was the Imo State governor from 2011 to 2019, he never believed that the state he ran as an emperor for eight years could in less than two years of his exit turn against him.. If it is not for for disrespect to judicial rulings, it is his penchant to run the state as a family concern. As governor, Okorocha had the habit acquiring state and people’s land illegally. He had an obscene passion to acquire properties, even with state resources. The list goes on. This is a man who superintended the resources of the state for a good eight years, and what the people got from him was an unwholesome increase of his estate and property in all the nooks and crannies of the state. Do we talk about the Eastern Palm University at his village Okpoko in Ideato South local government area, or his Royal Palm Hotels and Apartment in Owerri which he said is owned by his wife, Nkechi, or the former Imo Broadcasting Corporation (IBC) at Orji, that he turned to his private Rochas Foundation, or the massive land he grabbed to build his private mansion at Spibat? Again, Okorocha’s conversion of the New Owerri area originally mapped out for the relocation of the New Government House which he gave out to family members and cronies is another issue of concern to the government and people of the state. It is indeed an understatement for someone to say that Okorocha and family members own half of the property in Owerri, capital of Imo State. One of the frequently asked is, ‘were all these properties he claims belong to him and his family members there before he assumed office in 2011? Of course, the answer is in the negative. Granted that the period of his reign as governor experienced opening up of the state astronomically, it is also believed that the major reason for opening up the state was to enable him acquire more estates and property in those virgin areas. No wonder, Okorocha publicly claims to be richer than the state. That assumption actually cannot be questioned considering the level of alleged wealth he amassed using his office as governor. Based on the above scenario, subsequent governments after him started the process of getting back some of the property he illegally acquired while serving the state as governor. This objective has been pursued doggedly, using every legal means. His immediate successor, Rt. Hon. Emeka Ihedioha, who had a stint as governor before the Supreme Court removed him, set up a Judicial Panel of inquiry into land matters and related issues. That panel was set up to investigate wrong acquisition of lands and review lands taken over by the Okorocha administration without due process. The panel drew its powers from the Imo State Judiciary Panel of Enquiries Law created under the administration of Rochas Okorocha. To do its job efficiently, the panel invited memoranda from the general public - interested groups and persons. With the coming of Governor Hope Uzodimma, the panel was allowed tto continue with its enquiry for the general good of Imo people, having seen its potency. The Panel completed its seating and came up with a 74-page report with recommendations to the Imo State Government, which the state gazetted and it became a supplemental legislation, having the full backing of the law. It was based on this that the Imo State Government sealed the premises of the Royal Palm Estate as recommended by the Judicial Panel of Enquiry and gazetted, having been built on an area specified as a green verge. Reacting to issues of the implantation of the content of the gazette, the State Commissioner for Lands, Survey and Physical Planning, Chief Enyinna Onuegbu said, “the Governor has directed that we certify all CofOs issued in the state as well as to maintain a register for allocation. We want to maintain transparency by ensuring that all allocation must be by public notice so that Imo people will know that a particular area is available for allocation

Uzodinma

Okorocha

and they will bid for it. We are expecting the gazette that will emanate from the judicial commission of enquiry on lands and related matters so that all the areas where the previous government took over peoples’ lands without proper revocation can be retrieved and given back to their rightful owners. Luckily the Exco has approved it.” On what government intends to do with the areas originally mapped out for government projects such as the proposed new Government House complex at New Owerri, etc, that had been tampered with by previous government, Onuegbu pointed out that the white paper answered those questions where public lands were taken for mixed used without change of purpose and when “we start to implement it, Imo people will know that that it is for their interest.” According to him, if the white paper says that those structures would be demolished we will implement it to the fullest. Most of those structures did not get the approved plans. This is a government that has come to put things on the right part. Secondly, if you come inside Owerri you will find out a clash between federal agencies and state without due process or letters of exchange between the two governments; people used the name of federal government to occupy lands which they wouldn’t develop instead few years after they mapped them out and sold them to themselves for private use. I want to assure Imo people that our eyes are on the ball. I want to urge them to give Governor Hope Uzodimma the support he desires by acknowledging his performance level. Raising their voice in support of the government’s action, Imo Stakeholders rose from a meeting last Saturday and mandated Governor Hope Uzodimma to use all legal means to recover every property, including money belonging to the state which was stolen by

any public official regardless of the status. The stakeholders drawn from all walks of life from the three senatorial districts also said they are irrevocably committed to supporting the government of Governor Uzodimma and will stand with and by him to ensure that his plan to ‘Rebuild Imo’ is achieved. Those in attendance came from the 305 wards in Imo State and include prominent men, women and youth leaders who mould opinions in the traditional, religious, political, academic, business world. The stakeholders made a resolution in writing that gave teeth to the mandate they gave to the Governor. “We the stakeholders from Imo State from the 305 wards in the state, after a meeting in Owerri, do hereby resolve to mandate the state government to recover every property, money or wealth stolen from Imo people by any person, no matter how highly placed,” the people resolved Earlier, Governor Uzodimma in his address to the stakeholders titled “Imo State Must Be For All Imo People”, used the opportunity of the 4th Stakeholders meeting since he assumed office to brief Ndi Imo on his achievements so far in the last one year in office. He also briefed them on the security situation in the state and the recent development involving the former governor of the State, Senator Rochas Okorocha who, according to him, recently took the laws into his hands by going to forcefully unseal a property sealed by the government. Governor Uzodimma reiterated his earlier stance that he has come to serve Imo people with sincerity of heart, noting that his government will only do the things that are in tandem with the wishes of the people of Imo State. He insisted that nothing will make him change his vow to God regarding service to Imo. He also pleaded with the people to be wary of those who are instigating crises in parts

If the white paper says that those structures would be demolished we will implement it to the fullest. Most of those structures did not get the approved plans. This is a government that has come to put things on the right part. Secondly, if you come inside Owerri you will find out a clash between federal agencies and state without due process or letters of exchange between the two governments; people used the name of federal government to occupy lands which they wouldn’t develop instead few years after they mapped them out and sold them to themselves for private use. I want to assure Imo people that our eyes are on the ball. I want to urge them to give Governor Hope Uzodimma the support he desires by acknowledging his performance level

of the state for selfish political reasons and maintained that his government will never allow such persons and the mercenaries they are using to wreak havoc in the state to have their way. Giving more teeth to the government to implement the contents of the whitepaper on lands, Justice Fred Njemanze of the High Court sitting in Owerri had on February 24, 2021, granted an application filed by L.M. Alozie (SAN) seeking for interim forfeiture of all properties acquired illegally by Senator Rochas Okorocha while in office as the Executive Governor of Imo State between 2011 to 2019. However, Okorocha in a swift reaction to the court order said “Let us first and foremost, describe the Interim Order of forfeiture as belated, an after-thought and deceitful. It has further exposed the double-standard of what we have in Imo today as a state government. And equally strengthened our consistent claim that what is happening in Imo is a clear case of vendetta, envy, hatred and conspiracy by the state government against Okorocha and his family. Okorocha in a release by his media adviser, Sam Onwuemeodo noted that in their application for an Interim Order of forfeiture last Wednesday, the government never talked about the distortion of the Owerri Master plan again. “They talked about illegally acquired properties. This is why the order is an afterthought, belated and deceitful. And with this Court order after they had invaded, looted and destroyed the properties in question leveraging on the Whitepaper, it only showed that they had acted wrongly, arbitrarily and unlawfully right from the outset. “Governor Uzodinma’s government also deceived the Court to give them an Order of interim forfeiture because they never let the Judge know that there has been an existing and valid High Court Judgment on the properties. In Suit No: HOW/947/2019, Hon. Justice T.N. Nzeukwu gave Judgment on these properties on Monday, September 7, 2020. We are not talking about Interim Order, but Judgment and after looking at the facts on ground, restrained the State Government and its agents over these Properties. “Nigerians should also recall that long before now, following baskets of petitions written by the State Government to EFCC and ICPC against Okorocha, over these properties, on July 25, 2019, the EFCC got an Interim Order of forfeiture from a Federal High Court in PortHarcourt in Suit No: FHC/PH/MISC/93/2019 and also sealed these properties. The Federal Government was the Applicant, with Okorocha and others as the Respondents. “After thorough investigation and after detaching the facts from falsehood, on Friday, September 13, 2019, His Lordship, Hon. Justice J.K. Omotosho vacated the Interim Order of forfeiture granted to EFCC on July 25, 2019. What we have in Imo now as a government, never let Hon. Justice Njemanze knew of these developments. “The question now is, with all these existing court cases and judgement on the same issues, was it proper for the state to get a fresh Interim Court Order of forfeiture on the same Properties? We do not think so. It all showed desperation on the part of the government to get at Okorocha”, he stated. He maintained that Justice Njemanze was deceived by the government to give the Interim Court Order, stressing that such order cannot stand. “It cannot fly. It died on arrival because you do not build a five-storey building on sinking sand”. Interestingly, political pundits believe that the framers of the laws understood that the state doesn’t hold the monopoly of being right all the time, which is why the court exists for anyone to seek redress. They advised Senator Okorocha not to be ‘so rusty that he has forgotten the role of the court’. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY MARCH 10, 2021

POLITICS

Ekiti PDP, Its Factional Crisis and Endless Litigation

GOVERNANCE IN PHOTOS

Victor Ogunje writes that the struggle for the control of the Peoples Democratic Party structure, Ekiti chapter, has ignited a ﬁerce battle between former Governor Ayodele Fayose and his estranged goddaughter, Senator Biodun Olujimi has sparked enmity that polarised the party into factions and culminated in a long-drawn litigation From left- Osun State Deputy Governor, Mr. Benedict Alabi; Governor Adegboyega Oyetola; National Head, Ahmadiya Muslim Jama’at of Nigeria, Barrister Alatoye Folorunso Azeez; Alhaji Mufadeen Bankole; Essa of Ikirun land, Chief Adetoyese Lawal; Alhaji Moshood Adekunle Oluawo and member Board of Trustee, Comrade Hassan Sunmonu during the Foundation Stone Laying ceremony of MINARET International University, Ikirun Osun State

Fayose

Olujimi

Secondus-led National Working Committee had recognised the ward and local government executives loyal to Governor Ayodele Fayose , from where Hon Kolawole had emerged as the State Chairman. Miffed by the outcome, those loyal to Senator Olujimi had approached the court to seek redress. One Oladimeji Samson Olalekan and others, had filed a motion ex-parte, seeking an order of the court, restraining the PDP National Working Committee (NWC) from announcing, publishing, and recognizing any list as a result of election of Ward Executives and three ad-hoc delegates held on March 7, 2020. They also sought an order restraining the party from acting on, or making use of the names of winners of the Congresses for the purpose of the Local Government, State and Zonal Congresses. At the lower court, Justice Uche N. Agomoh of the Federal High Court sitting in Ado Ekiti, had on Friday, July 17, 2020 dismissed the suit, describing it as undoubtedly not justiceable as same is within an internal affairs of the PDP, citing UKUT vs. APC. Delivering judgment in the Appeal Number CA/EK/57/2020, the Appellate court upheld the decision of the trial Court and ressolved all issues against the Appeallant, Oladimeji Samson Olalekan. In upholding the lower court’s decision, Justice T.N Orji-Abadua, said, “The appellant’s case was not justifiable since it was centred on internal affairs of a political party”. Reacting to the judgment, Fayose advised the party members to eschew crisis and return to the path of civility by expressing readiness to work with the mainstream in the interest of the PDP. “To all PDP members, please see this as victory for all. No victor, no vanquished. We are in deep talks to reconcile all. We should refrain from provocative languages.” Fayose must do more than ordinary appeal. He must must be strategic and humble enough to reach out to Senator Olujimi, who is regarded as a powerful force in PDP. The former governor will be engaging in self delusion if he thought he could do it all alone. For the PDP to win the 2022 governorship election in Ekiti, the duo of Fayose and Olujimi must reorganise themselves and reposition the PDP and make it formidable.

n January 24, 2021, the Ekiti State chapter of the People’s Democratic Party(PDP) thought it had breathed a sigh of relief after a protracted and suffocating crisis that nearly snuffed life out of the party, as the Appeal Court delivered judgement on the contentious congresses held in 2020. Though, the court gave a verdict perceived to be favourable to those loyal to former Governor Ayodele Fayose, but it was widely expected that those on the opposing side would sheathe their swords and allow internal mechanism to be deployed to straighten rough edges. Unfortunately, actions taken afterwards were suggestive that the party may be entangled in crisis for long due to groundswell of opposition to the court’s verdict and the resoluteness being exhibited by those loyal to Senator Olujimi to fight on. With this verdict, the long sought respite by Fayose’s arch rival, Senator Biodun Olujimi seemed to have suffered a calamitous blow. In actual fact, Fayose and Olujimi have been at each other’s throat over the alleged shoddy conduct of the ward and local government congresses in 2020, culminating in the long-drawn and fierce litigation. As of today, the party is still operating two parallel factions , with each paying obeisance to either Fayose or Olujimi. Though, the two, who had for long been known as political allies had severed ties due to ego and desperate quests to control the party’s structures ahead of the 2022 governorship poll. But there was a ray of hope as the Appeal Court sitting in Ado EkitI, dismissed the suit filed by the caucus loyal to the Senator Olujimi over the congress that produced the present Ward Executive Committee members of the PDP in Ekiti State. The hope was that, it was expected that the two sides would now sit on a roundtable and make expected concessions that would restore stability to the main opposition party. From the outset, all the trouble shooting strategies deployed by party leaders were not potent enough to entrench peace, because the litigation had always been the excuse cited by members as a clog in the wheel. It was generally believed that court was better allowed to adjudicate on the matter, so that the party won’t be postponing the evil day if political solution is adopted. After the alleged violent and errorridden Congress in Ekiti, the Chief Uche

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L-R: Ekiti State Governor, Dr Kayode Fayemi; Secretary, Nigeria Medical Association (NMA), Dr Ekpe Philips; President NMA, Prof. Lao Ujah and Chairman, Nigeria Medical Association Ekiti State Branch; Dr Kayode Ariyibi; when the leadership of the association paid a courtesy visit to the Governor’s Oﬃce, in Ado-Ekiti

L-R: Minister of Women Aﬀairs, Dame Pauline Tallen; First Lady, Kebbi State, Dr Zainab Bagudu; and First Lady Ekiti State, Erelu Bisi Fayemi; at the ‘Marking Sustainable Progress on Gender Based Violence Response’ event held at the State Banquet Hall, Aso Villa, Abuja

Speaker, House of Representatives, Rep. Femi Gbajabiamila (right) with the Chairperson, Commonwealth Women Parliamentarian (Africa Region), Rep. Zainab Gimba during the commemoration of the 2021 International Women’s Day at the National Assembly

T H I S D AY ˾ ͯͮ˜ ͰͮͰͯ

FEATURES

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

Boosting Ammonia, Fertiliser Production for Nigeria Farmers With the recent signing of a Memorandum of Understanding between Nigeria and the Moroccan government that will see Akwa Ibom State host a plant to boost both ammonia and fertiliser production in Nigeria, Chiemelie Ezeobi reports that for farmers, this is a huge plus as this would provide them with locally produced quality fertilisers at competitive prices

or any farmer, fertilisation is key to gainful harvest. This is because fertilisers replace the nutrients that crops remove from the soil and without the addition of fertilisers, crop yields and agricultural productivity would be significantly reduced. Undoubtedly, this is why mineral fertilisers are used to supplement the soil's nutrient stocks with minerals that can be quickly absorbed and used by crops. However, one of the challenges faced by farmers is getting such fertilisers at affordable prices. Which was why the recent Memorandum of Understanding (MoU) signed by the Federal Government of Nigeria and Moroccan government has been lauded by stakeholders. Understandably, the plant, said to be worth $1.3 billion will utilise Nigeria’s gas and Morocco’s phosphate to produce 750,000 tons of ammonia and one million tons of phosphate fertilisers annually by 2025. Fertiliser Policy Over the years, agricultural policy in Nigeria has evolved since its adoption in 1998. According to Africafertiliser.com, this policy was targeted at ensuring food security for the population by developing local production. In 2001, the “New Agricultural Policy Thrust,” was borne and this was supported by a number of sub-sector policies, such as the National Fertiliser Policy for Nigeria and the National Policy on Integrated Rural Development, both of which are crucial for the attainment of national food security. Essentially, the National Fertiliser Policy for Nigeria, which was finally adopted in 2006, was comprehensively set up to facilitate farmers’ timely access to adequate quantity and quality of fertilisers at competitive and affordable prices. Not only did the policy launch many principles, oy also outlined room for government intervention in fertiliser production, international trade, domestic marketing, research and development, quality control, environmental impacts, farm use and governance and institutions. According to reports, this policy essentially provided broad guidance on government actions to develop the fertiliser sub-sector in harmony and in support of the planned agricultural development. Challenges of the Policy Despite its advantages, the policy also faced some challenges including how to make the implementation feasible at all levels, as well as put in place regulatory mechanisms and quality assurance. Also, as identified in the policy document, some of the major challenges facing the fertiliser sub-sector include how to increase and improve the use of fertilisers, achieve agricultural competitiveness through fertiliser usage, induce and sustain nutrient use efficiency, safeguard the environment with fertiliser production and use, exploit available raw materials for fertiliser production and raise employment in the fertiliser industry. Memorandum of Understanding Over the years, the FG has sought ways to boost ammonia and fertiliser production for Nigeria farmers, as we as tackle the above mentioned challenges facing the fertiliser sub-sector. After brainstorming, a partnership seemed the way out and recently to seal the deal, the Minister of state for Petroleum Resources, Timipre Sylva, led a federal government delegation to the signing of a Memorandum of Understanding (MoU) to host a plant to boost both ammonia and fertiliser production in Akwa Ibom, Nigeria. Interestingly, the MOU, which was signed at the University Mohammed VI Polytechnic in Morocco by OCP Africa and Sylva for Nigeria, is a build up to the industrial platform launched in June 2018 following the first phase of the Presidential Fertiliser Initiative (PFI). In details, the MOU which was signed to facilitate the take-off of the plant include a pact between OCP Africa, Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN) and Nigeria Sovereign Investment Authority (NSIA) in order to commit to the second phase of PFI; a shareholders’ agreement between OCP Africa and NSIA for the creation of a joint venture company (JVC). Essentially, this would oversee the development of a versatile industrial platform that will produce ammonia and fertilisers in Nigeria; a

Buhari

Sylva

memorandum of understanding (MoU) between OCP Africa, Nigerian National Petroleum Corporation (NNPC) and NSIA to evaluate the opportunity of an equity investment by NNPC in the JVC and for its support on gas; a framework agreement between OCP Africa, Mobil Producing Nigeria (MPN), NNPC, Gas Aggregation Company Nigeria (GACN) and NSIA on gas supply for the industrial platform; an MoU between OCP Africa, Akwa Ibom State and NSIA on land acquisition, administrative facilitation and common agricultural development projects. For farmers, this is a huge plus as this would provide them with locally produced quality fertilisers at competitive prices. Understandably, the plant, said to be worth $1.3 billion will utilise Nigeria’s gas and Morocco’s phosphate to produce 750,000 tons of ammonia and one million tons of phosphate fertilisers annually by 2025.

the Nigerian Sovereign Investment Authority, the Central Bank of Nigeria (CBN) and the Fertilisers Producers and Suppliers Associations of Nigeria, this idea could have remained just that, a good idea."

Foundation But how did the journey to the MoU start? It all began on December 3, 2016, during King Mohammed VI of Morocco's state visit to Abuja the see President Muhammadu Buhari. That began the journey that led to the second phase of the Fertiliser Initiative. After that, a cargo of phosphate from Morocco was supplied to Nigeria. Through this, 11 blending plants were revived and about 1.3 million tonnes of fertiliser were produced leading to creation of 50,000 direct jobs and 150,000 indirect jobs while fertiliser price crashed to N5,500. On May 2017, a Nigerian delegation led by the Minister of Foreign Affairs, Geoffrey Onyeama including the Fertiliser Producers and Suppliers Association of Nigeria (FESPAN) President, Thomas Etuh, visited the palace of the King Mohammed VI, at Rabat, the heart of Morocco. During that visit, Onyeama said: “During His Royal Majesty’s State visit to Nigeria on December 3, 2016, our two countries entered into commitment to work in mutually beneficial ways to strengthen our bilateral co-operation in various areas, including agriculture, infrastructure and gas development. Who would have imagined that eight weeks after that commitment was signed, phosphates produced here in Morocco was already being blended into fertilisers for agriculture 2000 miles away in Nigeria under the programme known as the Presidential Fertiliser Initiative. "The programme has revived several moribund fertiliser blending plants in Nigeria. It has so far created thousands of direct and indirect jobs, ensure that our farmers have access to good quality fertiliser at an affordable price and all these before the planting season. The remarkable success of this programme thus far can only be attributed to the strength of the personal relationship as well as the commitment, vision and leadership shown by both King Mohammed VI and President Buhari. “These achievements are also testaments to the commitment of our chief executives and institutions that have worked tirelessly to implement what the two heads of states have directed. Without the focus and the drive of the government of the Kingdom of Morocco, the federal and state governments of Nigeria, OCP,

Regional Initiative Speaking on the regional Initiative between both countries, Onyeama said: “This strong bilateral relationship is not limited to the fertiliser industry alone, the vision your royal majesty shared with His Excellency President Buhari to enhance our natural resources for economic growth has crystalised into extensive discussions on the decision taken in Abuja to start the proposed regional gas pipeline to connect Nigeria’s gas resources, those of other West African countries and Morocco. This initiative would also promote regional economic integration as well as accelerate electrification and industrialisation in mining, petrochemical, light manufacturing, agro-processing and fertiliser sectors.” Onyeama was alluding to the joint initiative on the Morocco–Nigeria Gas Regional Pipeline. This deal christened “The Wonder of Africa” was signed by the NNPC and the Office National des Hydrocarbures et des Mines (ONHYM), which covers a feasibility study and a Front-End Engineering and Design (FEED) study on a gas pipeline from Nigeria to Morocco and ultimately Europe. The MoU shows that both countries have equal stakes in management and financing of the studies, which are expected to be completed in two years. In response, Moroccan Foreign Minister Nasser Bourita said: “The Morocco/Nigeria gas pipeline project has a major historical significance that underpins the royal vision of an African continent that is master its own destiny. This project is a convergence of the vision of your majesty and President Buhari for the development of the continent, a vision founded on afro-optimism. “This project is feasible in many ways. First, the project arises from strong will. It is designed by Africans and for Africans aiming for a sustainable development and truthful and solidarity-based south-south co-operation as well as enhance regional co-operation. Second, the vision has the capability, the high expertise and know how, relevant qualifications, adequate engineering and the right men and women to meet the challenge. "The vision also has a number of previous success stories. Nigeria has a strong economy with the highest African GDP and enjoys the confidence of investors. Morocco, under your majesty’s leadership, has implemented worldclass challenging projects. The project is also viable because it meets concrete needs relying on the potential of African gas resources on the one hand and the crucial role that energy can play to foster African development on the other hand. "West Africa has a significant energy potential with 31 per cent of global reserves of natural gas resources. However, 200 million people don’t have access to electricity in West Africa, nearly two-third of the population. Only 45 per cent of energy needs are met. There are huge disparities in terms of energy among West African countries and for industries energy in

West Africa is still very costly.” The Moroccan foreign minister added that "the viability of the project relies also on its integration effect. Gas pipeline will be an opportunity for all the countries that it will pass through, from the gas’s origin to the final destination and even for the midstream countries. ECOWAS producers as well as consumers can plug into the project to supply or be supplied. The project will have a real impact on the population of West African countries by directly benefitting 300 million people. "It will enable West African countries to access a more reliable source of energy, which is considered among the cleanest and least expensive for power generation. Several sectors will derive considerable benefits from the pipeline in terms of employment as well as industrial development. The sectors concerned include agriculture, power generation, health, tourism and others. "This Atlantic pipeline offers unprecedented opportunity for the region, for the transfer of technology, industrial and energy platforms that will accompany this project will enable the population of the region and more particularly the youths to benefit from its economic impact in terms of employment and investment. The Atlantic pipeline will have also stabilising effect. History has demonstrated that regional integration is synonymous with peace. “In the long run, the project will create an economically viable West African space connected to Europe. This project will simply change the face of West Africa. The project is also profitable. All these preliminary elements show the prospects for a profitable project, especially with its positioning as the gateway to Europe.” Modalities Speaking on the fertiliser pact between both countries, the Fertiliser Producers and Suppliers Association of Nigeria (FESPAN) President, Thomas Etuh, emphasised the importance of food in development and enumerated the challenges faced in the first phase of the initiative and what is being done to tackle them. Noting that "it was not an accident that you and your senior brother, President Muhammadu Buhari, decided to start this initiative with fertiliser. Why? Today we are talking about gas pipeline from Nigeria to Morocco to terminate in Europe. Can you do that project on empty stomach? No. And that is why the two brothers, His Majesty the King of Morocco and President Muhammadu Buhari, decided to start with an input so that we can feed ourselves, we can have the energy to think to do this ambitious project that we have started. "In Nigeria, we have a potential one 8 million tonnes of fertiliser and we just started with a million tonnes this year and we are going to double it next year. We have a development programme to take this initiative to 6 million tonnes by 2020. “When we started there was a lot of logistics challenge which we never envisaged. Today it has been called the Wonder of Africa. The fertiliser is affordable and it is delivered to the farmer. How do we make it more affordable to the farmer? Today we have reached an agreement with OCP on how to solve the logistics problem. Both countries will be investing in the logistics. Storage facilities in those plants were also challenging. We have designed clusters. "We are going to create inland logistics storage in the port and in the factory zone. This storage facility is not only for distributing fertiliser and for distributing the raw materials, but it is also going to be a one-stop shop where the farmer can also bring its produce and sell. We are guaranteeing the farmers cost plus profit.” Assurance of Gas Supply For Sylva who led the federal government delegation to the signing of the MoU to host the plant to boost both ammonia and fertiliser production in Akwa Ibom, he was joined by NNPC Group Managing Director, Mele Kyari in Marrakech to endorse protocols with OCP Africa, a leading phosphate/fertiliser producer on the establishment of ammonia plant in Akwa Ibom State. Kyari, who gave assurances of gas supply at the MoU signing, said NNPC will also take equity in the venture that will produce 750,000 tons of ammonia and 1million tons of phosphate fertilisers.

T H I S D AY ˾ MARCH 10, 2021

FEATURES

Buhari, Emeﬁele and Nigeria’s Rice Revolution Jackson Ugbechie x-rays the Anchor Borrowers Programme launched five years ago by the Federal Government through the Central Bank of Nigeria, CBN, and concludes that it’s one of the best policies of the Buhari government as an antidote to unemployment

he recent celebration of the fifth anniversary of the Anchor Borrowers’ Programme (ABP) in Kebbi by the Federal Government spearheaded by the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, was a breath of fresh air. President Muhammadu Buhari must have gushed with joy by reason of the event witnessed by many governors and members of the international community. A major component of the anniversary was the launch of the 2020 wet season harvest aggregation and 2021 dry season input distribution under the CBN-Rice Farmers’ Association of Nigeria (RIFAN) Anchor Borrowers’ Programme. Dignitaries in attendance at the event included the Sultan of Sokoto, Sa’ad Abubakar III and former President of the Senate, Ken Nnamani. The President of Benin Republic, Mr Patrice Talon was represented by his Minister of Foreign Affairs, Mr Aurelie Agbenonci. The presence of the host governor, Gov. Atiku Bagudu was complemented by Dr. Kayode Fayemi, governor of Ekiti State and Chairman of the Nigeria Governors’ Forum. Happening at a time the nation was grappling with insecurity and its attendant uncertainties including abduction and death, the stacks of locally-produced rice at Zauro, venue of the launch was evidence that Nigeria has turned a new corner in her quest to deepen agriculture and move towards guaranteeing food security for the citizenry. The rice pyramid that formed a background for the photo-shoot for dignitaries showed that the ABP is not a mere political slogan. It is a reality and the CBN deserves accolade for the manner it has painstakingly conceptualised the programme and executed it across the nation. Launched in November 2015 by President Muhammadu Buhari, the ABP was conceived as a low-interest loan scheme which gives ample flexibility for re-payment. To make the loan farmer-friendly, interest was reduced to as low as 9 per cent. However, with the advent of the COVID-19 pandemic, the interest was adjusted to five per cent. The loans are disbursed through any of the Deposit Money Banks (DMBs), Development Finance Institutions (DFIs) and Microfinance Banks (MFBs), all of which the programme recognises as Participating Financial Institutions (PFIs). The ABP was to provide farm inputs in kind and cash to small-holder farmers (SHFs) to boost agricultural production. The essence of the small-holder farmers-focus was to deepen and widen the scope of agricultural production as well as maximise the output within the value chain. With the crash in crude oil prices resulting in low forex receipt for the nation, experts see in agriculture a veritable sector to rely on in the effort at diversifying the economy. Whole scale reliance on crude oil receipts by successive Nigerian governments meant that other sectors suffered gross neglect. Agriculture which in the 70s sustained the regional economies was relegated to the background. This created a very unhealthy balance of payment between the country and other nations. The ABP was therefore aimed at reversing the negative economic trend aside achieving food security. Categories of farmers captured under this programme include those cultivating cereals, cotton, roots and tubers, sugarcane, tree crops, legumes, tomato and livestock. Just as rice farmers have benefited from the programme, other crop farmers are also beneficiaries including those involved in processing of the crops for food, raw materials and for other uses. In five years, about 3.8 million farmers cutting across over 20 farm produce have so far benefited from the Programme. Mr. Yila Yusuf, Director, Development Finance Department of CBN recently disclosed that the sum of N554.61 billion had been disbursed through the programme since inception. While commending President Buhari, Yusuf said the programme had done a lot to help farmers improve and increase their yields in addition to generating employment. He said: “The multiplier effect on the economy is huge. The ABP has helped farmers improve their yields. For maize we now do five metric tonnes per hectare and for rice we’re improving from four metric tonnes to 10 metric tonnes per

Kebbi rice as evidence of success of Anchor Borrowers programme

Buhari hectare. We will be trying out some Brazilian seeds that we will give to the anchors and their association.” Analysts have continued to pour encomiums on the CBN and its governor for envisioning and sustaining the ABP. This, they argue, has saved the nation from unforeseen embarrassment and hunger during the lockdowns occasioned by the COVID-19 pandemic last year. Prior to the commencement of the programme, Nigeria was a heavy importer of food items including those that could easily be grown in the country. Nigeria was leading other African countries in the importation of rice from Thailand. Wheat, cotton and sundry other items make up the import-list, costing the nation millions of dollars in forex. This led to a depletion of the foreign reserve. Matters were made worse by the crash in global price of crude oil. This informed the opinion of those who see Emefiele as the man who saw tomorrow with all its dangers and headwinds and moved quickly to steer the nation out of harm’s way. During the lockdown, for instance, the nation did not go starving, especially with other countries playing protectionist politics with food export. Rather, Nigeria was able to feast on what she could produce, and there was enough food to satisfy the culinary needs of the people. At the moment, CBN is tinkering with initiatives that would help stabilise prices of commodities. This is critical in order not to create a wild-bear price situation in which prices

bounce up and down like a yo-yo. Maize, for example, recently became a victim of the wild-bear pricing with price of maize rising continually. CBN has taken proactive steps to stem this tide by going into a strategic maize programme to stabilise the price of the commodity. As a way of encouraging more farmers to enlist in the ABP,CBN says it no longer accepts cash from them as repayment for their loans, instead, the apex bank rates every single commodity they produce and guarantees the price. This has helped to build farmer’s confidence in the programme as well as win their trust with the ultimate goal being to encourage more farmers to enroll in the programme. This step also discourages hoarding of the products, a development whose negative effect was already destabilizing the prices of commodities. An elated Emefiele while speaking at the event disclosed that the CBN had financed 2,923,937 small holder farmers cultivating 3,647,643 hectares of land across 21 commodities through about 33 participating financial institutions in the country. This has created millions of jobs through the various strata of the value chain. “Today is a demonstration of the growth that had been attained in the agricultural sphere. It is important to note that, we are still far from attaining perfection but the emerging result from the programme reaffirms our belief in the potentials inherent in our agricultural sector,”

he told the audience. Emefiele projects that farming will become a profitable venture in Nigeria as all farmers, because of the guaranteed off-take of their produce, are smiling to the banks. He continued: “Under the 2020 wet season CBN and Rice Farmers Association of Nigeria (RIFAN) partnership, we financed 221,450 farmers for the cultivation of 221,450 hectares in 32 states of the country. Repayment of loan is crucial to the sustainability of the programme. “In support of the growth recorded in this drive to attain self-sufficiency in food production and to moderate prices of agricultural commodities, President Muhammadu Buhari has approved the resuscitation of Nigeria’s commodity exchange. And the CBN in partnership with other stakeholders, will be committing at least, N50 billion to this initiative.” The CBN governor said the apex bank is willing to finance one million hectares of rice farms in the present dry season farming with the plan of exploring two cycles of production within the season. As a further proof of expansion of the programme, the CBN has commenced sale of 200,000 metric tonnes of paddy rice to 18 Nigerian millers. The strategic intervention of CBN means that farmers no longer suffer wastages of their produce as the nutty issue of off-takers had been addressed. Another excited dignitary was Gov. Atiku Bagudu who expressed optimism that Nigerian farmers would take the country out of her tough economic challenges. Bagudu who commended President Buhari for his support to all states in the country also thanked the CBN for transparency in the execution of the programme. Governor Fayemi also expressed the gratitude of the Governors’ Forum both to President Buhari and the CBN. The President of Benin Republic, Mr. Patrice Talon, said he deliberately sent a team of about four ministers to Nigeria to witness the celebration of successes in agriculture. “We have seen it all and we are going to establish a partnership in milling and produce rice together to feed the whole West African sub- region,” he said. The National President of RIFAN, one of the major beneficiary groups, Alhaji Aminu Goronyo, commended President Buhari and the CBN, stressing that the ABP demonstrates in practical terms the government’s commitment to food security and genuine economic diversification. Nigeria has witnessed two economic recessions between 2016 and 2020 but on both occasions, the nation quickly rebounded. Analysts attribute the quick exits from recession to the giant strides in agriculture driven by the ABP. They believe that the ongoing revolution in agriculture has not only stood Buhari out among past leaders but has positioned Emefiele as Nigerian farmers’ best ally and friend in the history of the CBN.

WEDNESDAY MARCH 10, 2021 •T H I S D AY

T H I S D AY ˾ ͯͮ˜ 2021

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REPO 16.33 15.33

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FACILITY TOUR

L-R: Director, Farmforte, Osawaru Obaseki; Co-CEO, Farmforte, Uyi Osayimwense; First Lady, Edo State, Betsy Obaseki; Co-CEO, Farmforte, Osazuwa Osayi, and Country Director, United Nations Development Organisation (UNIDO), Jean Bakole, during an oﬃcial tour of the Farmforte’s 1000 hectare industrial farm complex in Evbolekpen community, Benin City, Edo State...recentl y

PenCom Approves N5.33bn as More Contributors Withdraw Pension Funds Ebere Nwoji Pension Fund Administrators (PFA) are under stress as a result of continuous demands for withdrawals by contributors into the Contributory Pension Scheme. This is as a result of increased job losses due to harsh economic environment. In the last quarter of 2020, the situation compelled the National Pension Commission (PenCom) to approve N5.33 billion to enable PFAs provide succor to 11,796 account holders who found themselves out of jobs. The development was attributed to the impact of the COVID-19.

ECONOMY According to PenCom, a total of N5.33 billion was paid to RSA holders under the age of 50 years, who were disengaged from work and unable to secure jobs within four months in the fourth quarter of 2020. The regulator disclosed that similar approval was granted for the payment of N4.31 billion to 8,221 RSA holders who were under the age of 50 years and were disengaged from work but unable to secure another job within four months of disengagement in the first quarter of the same year. Available data showed that Nigeria’s unemployment rate as

at the second quarter of 2020 was 27.1 per cent, indicating that about 21,764,614 (21.7 million) Nigerians remained unemployed. Head, Corporate Communications, PenCom, Mr. Peter Aghahowa, had said workers who lost their jobs owing to the pandemic would be able to get a quarter of the savings in their Retirement Savings Accounts (RSAs) to cushion their hardship after four months of job loss. According to him, “The contributory pension was designed to allow access to 25 per cent of retirement savings balance in a situation whereby you lose your job. “So if you lose your job, after four months you can access 25 per

cent of your RSA contribution.” A report by the Economic Sustainability Committee (ESC), chaired by Vice President Yemi Osinbajo, had projected that unemployment in Nigeria may rise to 39.4 million or 33.6 per cent in December. It had also predicted a monthly oil revenue loss of N185 billion for the country. The president set up the committee last year to come up with economic sustainability plan as a response to challenges posed to the economy by the COVID-19 pandemic. The committee was also constituted to come up with monetary policy measures in Continued on page 24

Kwara Designs Revenue Collection Tools to Support Federal Allocation Hammed Shittu in Ilorin The Kwara State Internal Revenue Service, (KW-IRS) has said that as part of efforts to support federal allocation accrued to the state, it has designed a tool for collection of all revenue due for payment from taxpayers across the state. The tool is out to block all forms of leakages in revenue collection as this would assist the agency to carry out its mandate of revenue generation for the strategic development of the state. Speaking with journalists in Ilorin yesterday, the Executive Chairman of the agency, Mrs. Shade Omoniyi said, “The Harmonised bill is one of the automation strategies of the service to improve on its collection activities, bring all eligible

ECONOMY entities or businesses into the tax net and enhance collections in the state.” According to her, “This revenue drive in the state, with the introduction of the harmonised bill, will improve the tax compliance in the state.” She said that, “this new drive will also bring about an enhanced revenue generation which is a veritable support for the federal allocation in ensuring the government meets its responsibilities and desires of Kwarans.” She added, “It is important to state that, KW-IRS has not reviewed revenue fee or introduced new taxes to tax payers since the current administration took over.

“All revenue lines currently being collected have been in existence. KW-IRS has however introduced an approach to ensuring required and legitimate tax due are paid by taxpayers and collected appropriately into the coffers of the state.” Listing out the benefits of the harmonised bill tool, Omoniyi stated that, “the new drive would assist the revenue agency to compute, consolidate and communicate all payable tax revenue and non-tax revenue as applicable to each eligible taxpayer in the state, within any assessment year.” “Stop illegal negotiation between taxpayers and revenue officers in the Ministries or KWIRS, as well as avoid diversion of government’s money into personal pockets.

“Block most of the leakages through the display of all taxes due for payment by a tax payer and provide education on double and multiple taxation. “A single entity could be charged to different revenue lines depending on the nature of business. “Indicate the level of tax compliance by showing both current and outstanding liabilities of each taxpayer in a single document.” She, however, advised MDAs to allow taxpayers with arrears, access government benefits when they pay their dues for the current year, while they come up with plans for the payment of their outstanding liabilities. She stressed that, “all revenue lines of the MDAs in Kwara Continued on page 24

Digital Agency Beyondperception.io has disclosed plan to organise a webinar on the InternationalWomen Day (IWD) event.The meeting will be hosted on zoom by 11 a.m WAT on March 12. The group in a statement said the webinar which would feature three speakers from different fields has as its theme: ‘Tech, Her and the Future.’The speakers will include: the Senior Special Assistant to the GovernorofLagosStateonDevelopment,Partnership,andEconomic Planning, Ayisat Olabimpe Agbaje; Brand Campaign Manager,Tecno, Infinix and Itel West Africa, Seun Badmus; and Lagos Housewife, Rayo Ahenmokhai. March8everyyearissetasidetocelebratewomenfortheirinvaluable contribution to the society, and economy. It noted that in spite of these, women all over the world are faced with an awful reality, adding that there is a gaping distance between the privileges enjoyed by men and women in the world. The group in a statement stated that women are many times denied of well-deserved privileges on the account of being of the feminine gender, adding that culture and social constructs have had huge parts to play in this. It further explained that in order to correct the wrong, there is a need to have discussions on the true place of women in business and society, “and act thoughtfully on the subject of gender disparity and women empowerment.”

Crowdyvesy Exits EMFATO Holdings

EMFATOHoldings,ownersofFarmcrowdyandinvestorsinPlentywaka have announced the exit of Crowdyvest from the company. This followed new investments into the startup. Launched just over a year ago, Crowdyvest has over 10,000 members who have used opportunities on its platform to sponsor projects in agriculture, real estate, transportation, health and education sectors. The latest change also saw its Co-founder & CEO, Onyeka Akumah relinquishinghispositiontoTopeOmotolaniasnewCEOofCrowdyvest. Explaining the rationale behind the strategic change in leadership, Akumah,saidthechangeinleadershipwouldnotaffectthemanagement and staff of Crowdyvest as they would all be retained, noting that Crowdyvest would be operated in a new way. He added: “I have taken this decision to move on as the CEO of Crowdyvest as a result of the new investment in the company which provides opportunities for proper scale in the coming months. “Today, Crowdyvest will also exit fully from EMFATO Holdings and we are very happy about the new investors and to see howTope will lead this business to new heights. Now, I can focus my energy on leading Farmcrowdy and Plentywaka as CEO of both companies into new markets in 2021. “TopeisastrongandamazingleaderandIseeherleadingCrowdyvest to become one of the go-to wealth management and digital savings companies in Nigeria within the next 3-5 years with her team. I wish her all the best and will continue to advise them on their journey when needed.” According to the firm the one-year old startup would set its sights on becomingaleadingdigitalwealthandsavingsmanagementcompany focused on a closed-community savings model under Omotolani’s leadership.

JPMorgan to Shut Digital Wallet

JPMorgan Chase & Co will discontinue its Chase Pay digital wallet at the end of the month, according to a notice on the bank’s website. TheoptiontopaythroughChasePaywillberemovedfromallmerchant apps and websites, the notice said, adding that customers could instead link their Chase credit cards to their preferred shopping sites or apps and to their PayPal accounts. Inaneﬀorttoexpandthedigitalwallet’sreach,JPMorganhadpartnered with payments processor PayPal Holdings Inc in 2017, allowing users to link their Chase Pay and PayPal accounts and use reward points to make purchases, Reuters reported. JPMorgan’s latest move comes a year after the bank shut down the digital wallet’s mobile app, started in 2015 to compete with rivals including Apple Pay. The bank did not give any reason for discontinuing Chase Pay.

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

Prof. Benedict Oramah

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BUSINESSWORLD PENCOM APPROVES N5.33BN AS MORE CONTRIBUTORS WITHDRAW PENSION FUNDS support of the plan; provide a fiscal/monetary stimulus package, including support to private businesses (with emphasis on strategic sectors most affected by the pandemic) and vulnerable segments of the population. Other mandates of the committee included identifying fiscal measures aimed at enhancing distributable oil and gas revenue; increasing non-oil revenues and reducing non-essential spending towards securing sufficient resources to fund the plan; articulating specific measures to support the states and the Federal Capital Territory (FCT); proposing a clear-cut strategy to keep jobs and create opportunities for new ones as well as identifying measures that may require legislative support to deliver the plan. KWARA DESIGNS REVENUE COLLECTION TOOLS TO SUPPORT FEDERAL ALLOCATION

State on the harmonised bill are the same as approved and as provided by existing relevant laws.” The chairman therefore said that, “the agency will continue to collaborate with all MDAs and stakeholders in the State for effective and efficient collection of all that is legally due from taxpayers and enjoins all taxpayers to seek clarifications from appropriate sources when in doubt.” Omoniyi recently disclosed that the agency recorded revenue generation of over N19 billion despite the Covid-19 pandemic in the country. Speaking with journalists in Ilorin recently, Omoniyi said the amount was achieved in the first quarter of 2020, before the pandemic took full effect on the economy. According to her, “Due to the lack of physical contacts with some taxpayers for collections as well as the lockdown, there was a huge dip in revenue generated in Q2 2020 which extended into Q3 2020, to the last quarter of 2020.”

NEWS

FTZs to Reduce High Unemployment, Insecurity, Says NEPZA James Emejo in Abuja The Managing Director/ Chief Executive, Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba has said the federal government is committed to using the Free Trade Zone Scheme (FTZs) to reduce high unemployment in the country. He added that the establishment of industrial hubs in various strategic locations has the capacity to gradually tackle widespread insecurity. Adesugba, made the remark when Alhaji Usman Bello Kankara, the District Head of Kerate, Kankara, Katsina State paid him a courtesy in Abuja. He pointed out that President Muhammed Buhari is quietly but diligently repositioning the country’s economic zones free trade to contribute significantly to both National Domestic Product (NDP) and Gross Domestic Product (GDP). He said the government’s policy direction was exemplified by the revamping of decayed infrastructure in the two public zones in Kano and Calabar as well as allowing for the establishment of news ones across the country. The NEPZA boss said: “We are set to visit Katsina State in a fortnight to flag-off the Funtua free trade

ÌÓØØË ÒÓ×Ë Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Avon Healthcare Limited, a leading health management organisation has partnered with the United Bank for Africa (UBA) Plc, to develop well-tailored and unique health plans for children. The collaboration to develop the new health plans became necessary due to the gap that exists in the area of child healthcare. Owing to this, a statement yesterday explained that both organisations have joined forces to change the narrative where children are usually not adequately insured while also ensuring the

ËÒÏÏ× ÕÓØÑÌÙÖß (Advertising) Correspondents

ÒÓØÏÎß äÏ (Aviation) ÜÙ×ÙÝÏÖÏ ÌÓÙÎßØ (Maritime) Ë×ÏÝ ×ÏÔÙ (Finance) ÌÏÜÏ áÙÔÓ (Insurance) ÒÓØÏ×Ï ÕËÐÙÜ (Energy) Emmanuel Addeh (Energy) Reporters

ÙÝË ÖÏÕÒßÙÑÓÏ (ICT) Peter Uzoho (Energy)

dramatically.” “We, therefore thank the president again for approving the Funtau free trade zone as this will go a long way to stabilize the state and its environs.” He added that the zone scheme was a wonderful business concept aimed at speeding up industrialistion, adding that industries operating in both the private and public zones were providing unimaginable number

of dependable employments to job seekers. Earlier, Kankara had expressed delight on Adesugba’s appointment as chief executive of NEPZA, describing him as a, “square peg in square hole.” The royal father also blamed the insecurity in the country on the lack of sustainable employment for the young people, adding that NEPZA’s rebirth under Adesugba will speedily change the narrative.

achievement of universal health coverage in Nigeria especially for the children. The new healthcare plan tagged, the UBA Kiddies Health Plan has two variants: the UBA Kiddies Plus and Prestige, which allows individuals with UBA Kiddies or UBA Teens account easy access to affordable healthcare services without paying out of their pocket. “Specifically, this well-designed healthcare plan will allow Avon HMO to tap into an existing base of thousands of customers who

have active UBA accounts or seek to open these accounts to enable them access great healthcare services,” it added. The Head of Retail Sales and Partnerships at Avon HMO, Dr. Babajide Oyeduntan, who threw more light on the partnership, said the initiative was in line with the organisation’s reputation for innovatively expanding healthcare access through strategic collaborations with forward-thinking companies. Oyeduntan said, “Over the years, we have launched a series

of products in partnership with various entities with the overall aim of improving healthcare access. “Only recently, we launched the Kaffy Health Plan for the entertainment industry, as well as bespoke health plans for women with Shecluded - a female-oriented financial services company. “Therefore, the newly launched Kiddies Health Plan in partnership with UBA further emphasises our commitment to securing the health of our children and improving healthcare access for

all Nigerians.” The Head, Personal Banking at UBA Group, Ogechi Altraide, said UBA was excited to partner with Avon to give UBA customers the opportunity to enjoy access to dental care, eye tests/surgeries, back-to-school checks and many more, which she stated are part of the organisation’s promise to help its customers get more value from their loyalty to the bank. She said, “Despite their susceptibility to sickness, children remain one of the least insured in the country.

Okereke-Onyuike, Ebi Make Case for More Female Stockbrokers Former Director-General of the Nigerian Stock Exchange (NSE), Prof. Ndi Okereke-Onyuike, has called on more females to take a profession in the nation’s securities market. Onyiuke, spoke at a virtual forum organised by the Chartered Institute of Stockbrokers (CIS) in celebration of International Women Day(IWD). Speaking on the Theme:

××Ë ÕÙØÔÓ Asst. Editor, Money Market ß×Ï ÕÏÑÒÏ Senior Correspondent

be exempted from habouring a type of zone, adding that many state governors were beginning to key into the zone business ecosystem to boost commerce, employment and revenues. He said the authority believes that the zone can be used to improve the current economic situation, adding that, “In fact, if majority of our young people are gainfully engaged, the current security situation will improve

AVON, UBA Partner on Bespoke Health Plans for Children

Goddy Egene

Group Business Editor

zone dedicated for the production of cottons and fabrics for local consumption and exportation. “This zone when operational, will leverage on the cotton belt of the North West to commence active production of varieties of fabrics in commercial quantities.” In a statement by Head, Corporate Communications, NEPZA, Mr. Martins Odeh, Adesugba, further explained that no part of the country would

“Promoting Gender Equality as a Core Value in the Nigerian capital market,” Okereke-Onyiuke explained that although stockbroking was dominated by males, more females should aspire to join the profession as they have equal opportunities. “Women have made serious contributions to the growth and development of the capital market by removing the stigma of gender-inequality in many professions. “They have achieved this

by using their God-given sixth sense. The unique theme of this year’s International Women’s Day has opened the floodgate of how we stockbrokers can effectively achieve the core value of equality in the Capital Market and the whole financial district of Nigeria. “The CIS should work towards holding a forum to encourage those who have derived wealth from the market to support the Millennials who lack the wherewithal to participate in

the market,” he said. Corroborating her, the first female stockbroker to be inducted and licensed by the NSE and Group Managing Director, Futureview Securities, Mrs. Elizabeth Ebi, explained that she left her comfort zone as an investment banker, broke barrier and opted for the securities market which was largely dominated by men. “Considering my comfortable and exalted position at the bank and the heavy work load

attached to the position, there was no motivation to take on the extra-curricular required to qualify as a stockbroker. “However, as I recalled my long drawn-out crusade to break he barrier against women becoming stockbrokers I decided to take up the challenge. “ I humbly and dutifully applied myself to the task by not just meeting all the training required but also excelled in the exam recording one of the best results.

NSE Boss Restates Commitment to Gender Equality Goddy Egene The Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, on Monday restated the exchange’s commitment to the implementation of various initiatives aimed at promoting gender diversity and empowering women. Onyema, spoke at virtual event to commemorate the International

Women’s Day (IWD) and 7th Ring the Bell for Gender Equality with the theme: “Choose to challenge.” According to him, they recognise that there is a pressing need to do more to advance gender equality across our ecosystem. “In this regard, one of our key initiatives is the 3-year Nigeria2Equal programme that we are implementing in collaboration

with the International Finance Corporation (IFC). “The programme will support the private sector to increase women’s participation as leaders, employees, customers and entrepreneurs through favourable workforce policies and practices, products and services that target the women’s market segment and deliberate measures that promote women’s participation

in corporate value chains,” he said. Delivering her goodwill remarks, the Chief, Intergovernmental Relations & Africa, United Nations Global Compact (UNGC), Ms. Olajobi Makinwa said she welcomed the theme of the IWD. “On this special day, I call on business leaders to choose to challenge the gender disparities

that exist within organisations and set clear targets to address gender equality. “This includes policies that ensure equal pay for work of equal value, address gender bias and prejudice, prevent violence and harassment, offer clear opportunities for career development, and ensure women are included in the decisionmaking process across all levels of leadership,” Makinwa said.

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Redstar Express Invests for Future Despite the challenging operating environment and the negative impact of COVID-19, Redstar Express Plc has increased its investment in new assets indicating foresight and confidence in the economy, writes Goddy Egene

he year 2020 was a very challenging one as a result of the COVID pandemic that impacted businesses and individuals. As financial results of listed companies are being released, the impact of the pandemic is becoming more manifest. It has been a mixed grill as some companies record declines in their profitability, some losses and other profits. Another major impact of the pandemic was a reduction in investment by most companies given the uncertainties that prevailed in the year. But few discerning companies, which have good foresight and saw opportunities in the challenges thrown up by the pandemic, made significant investments in their assets. One of such companies, is Red Star Express (RSE) Plc that increased its investment and generally grew its assets to N7.192 billion as at the nine months ended December 31, 2020. This is an increase of 29 per cent compared with N5.587 billion as at December 31, 2019. RSE provides a portfolio of full logistic solutions in Nigeria, which includes, but not limited to international and domestic express delivery, freight forwarding, integrated logistics solutions, information and document management solutions, warehousing, packaging services, food delivery, agriculture logistics and e-commerce solutions. The unaudited results of the RSE showed that instead of being discouraged by the negative impact of the pandemic, it improved its assets in order to explore all possible opportunities in the market and retain its leadership position in the courier industry. Details of the financials indicated that RSE recorded a turnover of N6.595 billion in 2020, compared with N7.841 billion. Cost of sales was reduced from N5.9 billion to N5.235 billion, while total operating expenses fell from N1.374 billion to N1.350 billion. Similarly, financing cost declined from N35.297 million to N32.435 million. And at a time when most companies were declaring huge losses, RSE ended the nine months with a modest profit of N40 million, compared to the previous year’s figure of N498 million. Demonstrating shareholders and investor confidence in the company, RSE shareholder funds rose from N2.9 billion in December 2019 to over N4.0 billion in 2020. The share capital also increased from N294 million to N463 million, while the company’s share premium jumped by over 400 per cent from N296 million to N1.4 billion in December 2020. The investment in assets was skewed heavily in favour of in automobiles such as bikes, shuttle vans, trucks and trailers among others. Speaking, the Group Managing Director of RSE, Dr Sola Obabori attributed the company’s long term success to its futuristic approach, strategic planning, agile management style and bold investments in the future. Obabori pointed out while most companies were in survival mode in the COVID-19 induced economic meltdown, RSE weathered the storm and had no erosion of capital. “We also did not lay off any staff, showing our non-negotiable belief that our manpower remain our priceless resource,” he said, explaining that the fundamentals of business are solid asset base, growing market share and the ability to generate revenues on a consistent basis. “Our increased net assets have given us the means to invest in the future so we can continue to make money. We have been indeed been very bullish in investing in assets and game-changing technology,” he said. According to him, in addition to acquiring state-of-the-art delivery trucks and operational vehicles, RSE also made investments to improve its technological architecture as well as enhance tracking/visibility, automation and package security. “RSE has also made a substantial investment in an industry-first cold chain warehousing facility at the international airport. When shipping temperature controlled items, they can be stored there. It will also be absolutely

Obabori essential in supporting the government in the storage and distribution of vaccines, as the need is already here. RSE has actually shown an unparalleled level of resilience, as we have already bounced back to profitability,” he said. The GMD explained that one of the best things the y did in the last 2019/2020 financial year was the raising of fresh capital. “We had a rights issue which was to help us to raise additional capital to augment our working capital. We raised 102 per cent of target, reflecting investors’ confidence in the long term growth of the company. I am glad that we did, as COVID 19 would have made it impossible this year.We have massively invested in new trucks and motorcycles as well as other essential assets. We have retooled successfully and we are well prepared for the next rainy season. We are also perfectly positioned to respond to the opportunities that will come post-Covid-19,” Obabori said. He said the company is equally going into the agricultural sector in big way, disclosing that RSE is trying to do co-chain trucks that would move fresh produce from the farm for people to the shop floor for retail stores that are all over the country. “So, even if you run a poultry shop, for example, and you are producing your poultry products, we can support your company by bringing co-chain trucks there to help you move these items from wherever they are produced to the shop floor where they can be sold on a retail basis,” he said. Obabori said that RSE is also adding

value to the pharmaceutical industry and entire health value chain, explaining that the pharmaceutical industry is booming presently because more and more people are taking care of themselves from home with help from neighbourhood pharmacy stores. “So there is a lot of movement of medicines and pharmaceutical products across the country. RSE now has all the assets required to keep this going. Not forgetting the e-commerce sector, which is probably the most important driver of growth in the new dispensation. RSE is the backbone of this industry. All the e-commerce players are largely dependent on us in many ways. We supply them with motorcycles in hundreds to help them move customers’ products from one place to another and keep the country’s daily economic engine running. So as far as positioning the company for the future is concerned, I think we have done quite a bit. We believe in the Drucker truism that the best way to predict the future is by creating it,” he said. Obabori had last year assured that in line with its people-service-profit (PSP) philosophy, RSE had remained focused on maintaining its leadership position in Nigeria and in building capacity for the African market. This, he said, was being done by hiring skilled workforce who were trained and re-trained in order to continually deliver superior financial performance and wider social impact.

“In addition, we are committed to strengthening our first-to-last-mile capabilities by expanding our investments in distribution centres and vehicular assets across the country of Nigeria and in our branches within West Africa that will support new business units focused on e-commerce, agro cold chain distribution and partnership with airlines for Cargo consolidation operations, among others. These have no doubt helped to further diversify the revenue profile of our company in the concluded year and will remain strong growth platforms for the future,” he said. Tapping in to the changing consumer behaviour following the impact of the COIVD-19 pandemic, RSE, last year, commenced delivery of fresh groceries for its customers in major cities across Nigeria. Customers were able to send and receive fresh organic products ranging from fresh vegetables/crops to frozen foods (chicken, beef). “We are mindful of how customers’ shopping habits have changed since the pandemic became widespread. Nowadays, most customers are purchasing products online and having these products delivered to them in their homes. To avoid the risks involved in staying in crowded places, less people will be going to the markets to buy food stuffs for their homes. The need to have these items brought to their homes has become vital; making it a challenge that we are looking to provide a solution for with this new service,” Obabori had said.

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Quick Response Code as Pathway to Greater Financial Inclusion Obinna Chima writesthattheadoptionofQuickResponseCodewillstrengthenthecountry’sdriveforfinancialinclusion

n order to ensure that a greater fraction of the country’s population carry out seamless transactions and enjoy banking services, the Central Bank of Nigeria (CBN), the Nigeria Interbank Settlement System and banks , have over the years continued to design initiatives aimed at encouraging financial inclusion. Financial inclusion refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. Today, all Nigerian banks boast of products that support financial inclusion initiative. The federal government had inaugurated a National Financial Inclusion Strategy, which was designed to increase the number of Nigerians that have access to financial services. Globally, this is a social problem that is also attracting greater attention. The Central Bank of Nigeria (CBN) had unveiled the National Financial Inclusion Strategy designed to ensure that at least 80 per cent of Nigerians have access to banking and other financial services. It had noted that about 36.8 per cent of eligible Nigerian adults currently do not have access to financial services, adding that the figure indicated a significant improvement over the 41.6 per cent exclusion rate recorded in 2016. Although, reports have shown an uptick in the number of those in the banking system in the past two years due to the aggressive campaign by the bankers’ committee, experts have argued that the introduction of Quick Response Codes (QR) for financial transactions would be a pathway to greater financial inclusion in the country. QR Codes are a kind of matrix barcode representing information presented as square grids, made up of black squares against a contrasting background, which can be scanned by imaging device, processed and transmitted by appropriate technology. These codes can be used to present, capture and transmit payments information across payments infrastructure. The technology further enables the mobile channel to facilitate payments and presents another veritable avenue for promoting electronic payments for micro and small enterprises. From restaurants and hospitality, to government and safety information, QR codes have empowered anyone with a smartphone to easily access information and content. In addition, QR codes have also become a way for companies to tell brand stories, from packaging, luxury, fashion, artists, among others.

In 2020, Ghana launched a universal QR code payment solution, which made it the first African country to introduce a universal QR code. The harmonisation of QR codes on a national level meant Ghanaians could make payments to merchants from multiple funding sources – mobile wallets, cards or bank accounts – on any platform. The importance of QR codes when it comes to digital and cashless payments is why some payments companies have been working over the years to increase its adoption across the world, for both merchants and consumers. Quick Response Code Framework Acknowledging the significance of this solution, the Central Bank of Nigeria in January 2021, unveiled a framework for QR code payments, directing all issuers, acquirers, switches, processors and other participants in the country to ensure full interoperability of the schemes. The CBN stated that the guidelines were in furtherance of its mandate to ensure the safety and stability of the Nigerian financial system, promote the use and adoption of electronic payments and foster innovation in the payments system. The framework provides regulatory guidance for the operation of the scheme and aims to ensure the adoption of appropriate QR code standards for safe and efficient payments services in Nigeria. The apex bank, in a circular titled: “Framework for Quick Response (QR) Code Payments in Nigeria,” stipulated the acceptable QR code standards for implementing QR payments in Nigeria; interoperability of QR payments; roles and responsibilities of participants as well as risk management principles for QR code payments. The CBN, however, warned that it will sanction any party that fails to comply ac-

The technology further enables the mobile channel to facilitate payments and presents another veritable avenue for promoting electronic payments for micro and small enterprises

cordingly with the QR regime, adding that all consumer complaints shall be resolved in accordance with the CBN Consumer Protection Regulation. The guidelines provide that issuers and acquirers shall clearly define risk management policy and guidelines for the operation of the QR code scheme. It stated: “QR codes shall, at a minimum, be encrypted (AES) and/or signed; QR codes payments applications, updates and patches shall be duly certified by the Payment Terminal Service Aggregator (PTSA); issuers and acquirers, shall agree minimum due diligence guidance for merchant on-boarding without prejudice to the KYC/AML requirements of the bank; issuers and acquirers shall ensure that only PTSA certified QR code shall be utilised; issuers and acquirers shall ensure behavioural monitoring and fraud management systems are implemented to prevent, detect and mitigate fraud and money laundering.” Beneﬁts of QR Codes The Drum in a recent article pointed out that in Singapore, QR codes played a significant role in the fight against Covid-19. According to the report, QR codes have become a ubiquitous mechanic for customers’ brand engagement in Asia Pacific but as the pandemic increased digitisation, the use of QR codes became more prominent. “Billions of daily users rely on mobile payments through Alipay, WeChatPay, GrabPay, who have seamlessly integrated e-commerce, social media, and mobility services amongst others into their super apps. “Not only can they trace where their consumers have been, they understand their purchasing patterns through QR codes. “That’s the big promise to brands, marketers, and advertisers spending in their media ecosystems to influence the purchase journey,” it added. Furthermore, a report by CGAP, noted that transactions using QR codes are cheaper and simpler for both acquirers and merchants. With this solution, acquirers benefit from lower operating costs because they do not need to deploy a point-of-sale (PoS) terminal for every merchant. On the other hand, retailers save the PoS cost because they can use the smartphone they already own as a QR code payment acceptance terminal; for those without a smartphone, a printout of the merchant’s QR code identifier pasted on the shop’s wall will suffice. QR codes are already stimulating growth

in acceptance networks. In addition, QR codes provide an elegant solution to the card distribution challenge. “Delivering debit cards presents providers with a major distribution challenge. Card and PIN must be mailed to recipients through two separate mailers. “This is complex and expensive when targeting low-income customers, who often lack a proper street address. “When a customer uses a QR code to make a payment, his or her smartphone replaces the card, removing the need for the multi-step physical mailing process,” it stated. Furthermore, QR codes offer a user experience at least as good as cash, if not better. With this solution, users do not need financial education to use QR codes for payments. They simply launch an app, scan a QR code and enter their e-PIN. If using a printed QR code, they also enter their transaction amount. “The fact that a user’s phone vibrates when a transaction is completed, and that he or she gets a visual receipt on their phone, adds immediacy and physicality to the payment experience in a way a card purchase never could. “And the effort required of the merchant to complete a transaction is close to zero. Merchants simply need to show the QR code to the customer using their smartphone or a printout. “They can serve another customer while processing a QR code payment like they do during cash transactions. This is an important requirement for small merchants in developing countries,” the report by CGAP stated. Clearly, these factors make QR codes a potential game-changer in retail proximity payments, and this may have real consequences for large-scale adoption of digital financial services among financially underserved populations. Given their frequency, retail payments have greater potential to get people into the habit of using digital financial services. QR code transactions connect the virtual and physical world in a novel and involving way. Such easy and widespread opportunities to make digital payments — the promise of QR codes — can bring lasting and profound behavior change among low-income customers and merchants, making formal payments a part of their everyday lives. Over time, transaction histories and alternative data trails can bring access to credit and other formal financial services, creating a gateway to financial inclusion.

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Google Cloud Partners Sigfox on IoT Emma Okonji Google Cloud and Sigfox have announced a partnership deal that will scale up the latter’s cloud infrastructure and extend its Internet of Things (IoT) services portfolio. The partnership is expected to enable Sigfox to rapidly accelerate its massive IoT agenda—processing billions of messages each month from objects connected to the internet using data stored in the cloud. Announcing the partnership, the Executive Chairman, IoT Africa Networks Limited and Tranter IT, Mr. Lare Ayoola, said: “We are delighted to announce the partnership between Sigfox and Google Cloud, whose pedigree and reputation in the technology markets are exemplary. “Combining their bestin-class technology with Sigfox’s technical expertise and Global IoT coverage, provides a powerful and synergistic combination, which will undoubtedly bring significant value to the various industries we provide digital transformation services to.” Sigfox is a dedicated Wireless Local Area Network (WLAN) service provider for connecting

simple, low-powered, low-cost IoT devices to the internet. Already deployed in 72 countries, covering more than 1.3 billion people, Sigfox’s 0G network is used for a wide range of IoT use cases, from tracking shipping containers and monitoring fire hydrants, to securing buildings and helping farmers monitor irrigation levels. Deputy Chief Executive Officer, Sigfox, Franck Siegel, said: “We chose Google Cloud because we share the same appetite for driving digital transformation through helpful, reliable, and sustainable innovation. “With this partnership, Google Cloud technology will support us in becoming the global leader in ultra-low-cost, ultra-low-power asset visibility, and tracking.” Vice President,Sales, EMEA South, Google Cloud, Samuel Bonamigo, said: “Google Cloud is proud to support Sigfox and provide an IoT leader with more reliability and flexibility as the company takes on the next steps of its development. Sigfox’s use of Google Cloud technology is the perfect illustration of how we are helping innovative companies grow and thrive, and better serve their customers.”

NEXIM Bank to Unlock Opportunities in Mining Sector Ibrahim Shuaibu in Kano The Managing Director of Nigerian Export-Import Bank (NEXIM Bank), Mr. Abba Bello, has disclosed that Nigeria has a huge solid minerals endowment with over 34 solid minerals available in commercial quantities. He noted that since he took over the helms of affairs in NEXIM, he has developed targeted products to unlock opportunities in the sector, including the Contract Financing Scheme and the Equipment Leasing framework. The Managing Director, adding that over the next few years, the solid minerals sector would increasingly realise the benefits of NEXIM’s intervention.

Bello, spoke in Kano, recently, during a working visit to the Dutse Granite Company Limited, which is Nigeria’s indigenous operator in the solid minerals sector that has commenced operations. He added that the objective of the bank was to ensure creation of jobs and to support forex earnings for the country. He said that in spite of this, the sector accounts for less than one per cent of the country’s Gross Domestic Product (GDP) and contributes less than one per cent of non-oil exports revenue. Bello mentioned that part of challenges of the solid minerals sector was poor access to finance, given the capital-intensive nature of mining projects and the need for long term funds. The Dutse Granite Company

is based in Sharada Industrial Area, Kano, which produces granite tiles and slabs for import substitution and export. The company, which was incorporated in 2011, was first financed by NEXIM in 2015, but somehow encountered some challenges. According to the Managing Director of the Bank, this led to disbursement of more money in 2018 and 2019, to enable the company acquire state of the art processing machinery and equipment. Also speaking, the chief promoter of the company, Alhaji Mustapha Khabeeb, disclosed that but for the intervention of NEXIM bank, the project, with machinery currently worth over N1 billion would have been stalled. He disclosed that the company

has about the best machinery for granite processing in the country presently, saying that the products were comparable in quality with those imported from Europe. Khabeeb, indicated that his company currently has 37 staff in direct employment, “but this does not include many others in the value chain from the quarry to the distribution network, and other by-products, which run into hundreds.” The company supplies the major construction companies in the county and has export orders from Saudi Arabia, Chad and Ghana. He, however, disclosed that logistics challenges were major impediments to maximising the export potentials of the company.

MainOneOffers Hybrid Cloud SolutionsforFinancial Institutions Stories by Emma Okonji As central banks across Africa continue to deepen financial inclusion, MainOne, provider of Cloud Solutions Services, has reiterated its commitment to support commercial and microfinance institutions (MFIs) in achieving their goals. In a bid to enhance economic growth through financial inclusion, the Central Bank of Nigeria (CBN) issued mobile network operators payment banking licenses in 2019. In Ghana, a digital financial services (DFS) policy was launched in early 2020. Other countries on the African continent have implemented similar policies. These developments do not only pave the way for greater inclusion in the financial system, but also put additional pressure on commercial banks and MFIs to deliver efficient and more cost-effective services. However, many commercial banks and MFIs have been held back on their digital transformation journeys by legacy technology and processes. They have continued to invest in and own Data Centres to host critical applications, which have not been cost efficient. System outages and downtimes have been common with these banks, resulting in heavy financial loses and reputational damage. As an end-to-end provider of connectivity, datacenter and cloud services, MainOne has supported various financial institutions by offering a comprehensive technical

and commercial build-versusbuy assessment which has facilitated partnerships that allowed the banks achieve regulatory compliance and increased efficiencies without the weight of operating and capital expenditure challenges. DGM Marketing and Customer Experience at MainOne, Ololade Shonubi, stated that “MainOne as a renowned leader in connectivity solutions that enable digital transformations across West Africa, is focused on supporting organizations across sectors to adapt to the flexibility, cost effective and value add that innovative cloud connectivity enables for them.” According to her, “We offer bespoke solutions that allow various industries including the Financial Services industry to scale easily while maintaining high performance and focusing on their core business objectives. Our Solutions competently support transition from legacy platforms to innovative and dynamic cloud-based solutions and platforms which allow organisations develop new products and applications , enhance existing applications and ultimately improve their customers’ experience’’. “In order to take advantage of the opportunities available that will enable banks reach the unserved population, and also withstand the onslaught of Fintech companies, banks need to maximize their operational efficiencies and extend their reach with solutions that foster revenue growth without the burden of increased capital expenditure,” Shonubi

NCCBacks Girlsin ICT Campaign 2021 The Nigerian communications Commission (NCC) has thrown its weight behind eBusiness Life Communication Limited in the campaign to sensitise young girls on the imperatives of pursuing ICT-related careers. The nod will see the regulator partnering with the media organisation in its upcoming event, eBusinesslife International Girls in ICT Day Celebration, scheduled for April 22, 2021, in Lagos. In a discussion with the organisers, the NCC noted its willingness to partner with eBusinesslife to ensure that the

gender disparity in ICT-related careers is addressed to motivate young girls contribute their quota in the industry. The International Girls’ in ICT Day Celebration is an initiative launched through the International Telecommunications Commission (ITU) Resolution 70 with the idea of creating a global environment that will empower and encourage girls and young women to consider careers in the field of information and communication technologies (ICTs). In the past nine years, eBusiness Life had organised the event annually in Nigeria,

gathering young girls from different schools, to educate and sensitise them on the opportunities inherent in professions in ICT, and providing a platform for organisations to synergise on complementary ways to further the cause. Also the girls had been made to go through hands-on training on various aspects of ICT and gone on facility visits to ICT companies to get first-hand experience of the intricacies of these ICT firms. However, the 2020 edition was botched by the COVID-19 pandemic. Speaking on the partnership, Chief Executive Officer of eBusi-

ness Life Communication and convener of the event, Mrs. Ufuoma Emuophedaro, said the need to sensitise young girls was premised on the fact that the society has unconsciously relegated the female gender and delegated careers in technical fields, especially in ICT, to their male counterparts, and that the support from NCC will further lend credence to the campaign. She called on corporate bodies and the society at large to recommit to supporting every girl to develop her skills, enter the workforce on equal terms and reach her full potential.

SpotifyLaunches inNigeria to Enhance Audio Streaming Spotify, a global audio streaming subscription service, has launched its service in Nigeria, Ghana, Kenya, Tanzania and Uganda. With a worldwide community of more than 345 million monthly active listeners, Spotify will offer a world-class audio listening and music discovery experience to listeners. The Spotify service is available for free or with an upgrade to Spotify Premium, a subscription service that offers an ad-free music listening experience. Spotify launch in Nigeria with its mix of features including more than 70 million international and

local songs, 2.2 million podcasts and over 4 billion playlists. The platform offers everyday new music and podcast discovery, algorithmic recommendations personalised to each listener’s audio taste, and the freedom to engage Spotify across a wide range of devices and app integrations with Instagram, Facebook, Snapchat, Samsung, Tinder, Google Maps, Nike, and more. Speaking at the launch, the Chief Freemium Business Officer of Spotify, Alex Norström, said: “We are incredibly excited about the opportunity to bring together creators and listeners around the world. As we have expanded

our international reach over the years, we have connected over eight million artists with listeners across nearly every continent, putting Spotify firmly at the heart of the global audio economy. Launching in these new markets is a key next step to fulfilling our ongoing commitment to building a truly borderless audio ecosystem.” Spotify Head of Music sub-Saharan Africa, Phiona Okumu, said: “African creators have always pushed boundaries, innovating and creating incredible sounds and starting from today we are giving them access and the opportunity to

connect with a global audience of fans. By bringing in a best in class product and a localized experience made for Africa, we will contribute to boosting the growth of the local streaming ecosystem. We hope our new listeners are going to love the revolutionary audio experience we are bringing to the rest of the continent.” Spotify’s most-popular feature ‘playlists’ are made for Africa Spotify has uniquely tailored its music experience for Africa, expertly curated and updated regularly with more than 100 playlists across some of the most popular genres in the continent.

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PERSPECTIVE

PIB as Panacea to Oil industry’s Ills? Adewale Ajayi Introduction he Petroleum Industry Bill 2020 (PIB or the Bill) is an omnibus Bill,which seeks to“provide legal, governance, regulatory and ﬁscal framework for the Nigerian petroleum industry, the development of host communities and for related matters.” The Bill appears to be gaining traction after more than 20 years. It will, upon enactment, completely overhaul the regulatory and fiscal framework guiding Nigeria’s oil and gas industry. Specifically, it will repeal the Petroleum Act, Petroleum Profits Tax (PPT) Act, Deep Offshore and Inland Basin Production Sharing Contracts Act as amended (DOIBPSCA), and several other laws which currently govern the industry. However, there are saving provisions for the operators that choose not to convert to the terms contained in the PIB. The hope is that the passage of the Bill will contribute to a significant increase in the effectiveness and transparency of operations in the Nigerian oil and gas industry and generate increased foreign interest and, in turn, investment. The Bill may be enacted into law before the end of the second quarter of 2021 based on the various comments by the leadership of the National Assembly. However, one lingering question is whether the Bill will be the silver bullet that will cure the ills in the Nigeria’s oil industry. This article will review this question and propose recommendations for addressing the issues arising therefrom. Issues Arising Attraction of investment 1) into the Oil and gas Industry – According to the Nigerian Capital Importation Report just released by the National Bureau of Statistics, the total capital imported into the country in 2020 was $9.68billion. Out of this, $53.51 million or 0.55 per cent was in respect of oil and gas. Certainly, Nigeria requires significant investment for the industry to grow. The country’s ambition has been, for a long time, to increase production to 4million barrels per day and grow reserves to 40 billion barrels. To achieve these twin ambitions, we need significant inflow of investments. However, the concern has been that Nigeria is not an attractive investment destination for the oil and gas sector given the challenges facing the industry globally and the need for scarce capital to go to places where the return on capital is more competitive. Oil is not good for any country if it remains unproduced. There are reports that oil demand will grow in the next 10-20 years and remain flat thereafter as a result of climate change, cheaper energy storage costs, cheaper renewable sources and green hydrogen. It is, therefore, imperative that Nigeria do whatever is necessary to produce its reserves more profitably. It is also important that the 2020 PIB (or is it 2021 since we are now in 2021?) address most (if not all) of the concerns of the industry operators to make the Nigerian oil and gas industry more attractive for investors. The concerns raised with respect to the regulatory (mainly voluntary conversion terms of existing licences and the requirement to set up an environmental remediation fund

in respect of environmental issues arising from operations. This matter can easily be dealt with by the operators just like they deal with any operational matter without setting up any fund for it) and fiscal provisions in the draft PIB, therefore, need to be addressed. Currently, some operators are placing bets on Botswana, Zimbabwe and Mozambique. We must not allow this to happen if we must succeed. 2) Dual Regulators – The PIB provides for the establishment of the Upstream Regulatory Commission and the Midstream/Downstream Regulatory Authority. The arguments for the dual regulators are hinged on the need to reduce the span of control of one regulator and focus on the midstream/downstream and not just on extraction. While these arguments cannot be faulted; however, it is important that the benefits outweigh the cost, given the associated cost of running two regulators. 3. Incorporation of NNPC - The Bill provides for the registration of NNPC

limited within 6 months of the enactment of the enabling Act. At incorporation, the Ministry of Finance will hold the shares of NNPC Limited on behalf of the Nigerian government. The shares of the Company will only be transferable subject to government approval, and in an open, transparent and competitive bidding process. The PIB provides for the appointment of 2 non-executive directors though the President will appoint the entire members of the Board while the Company remains wholly owned by Government. Thereafter, the composition of the Board shall be in accordance with the provisions of the Companies and Allied Matters Act and its Articles of Association. NNPC Limited will take ownership of rights to gas and petroleum production (including joint ventures) under the arrangements undertaken by NNPC prior to the effective date. One question that has surfaced is whether the mere incorporation of NNPC Limited will make it profitable and comparable to leading national companies such as Equinor, Petronas and Saudi Aramco. The

resounding answer to this question is NO, given what we know of NNPC. There needs to be a wholesale change of mindset, establishment of strong performance culture and institutionalization of good corporate governance and best practices. The earlier the government reduces its holding in the company, the quicker it will be for it become profitable.

(GMoU) with their host communities to facilitate seamless operations and the sustained development of the Niger Delta. Though the GMoU has achieved relative success, it has its drawbacks. Consequently, the PIB provides for the establishment of the Host Community Fund to which operators will contribute 2.5 per cent of their operating costs incurred in the preceding year. So, the question is should the operators continue to contribute 3% of their annual budget to NDDC? Will the contribution to the host community be deducted from the NDDC contribution? Is the NDDC itself relevant given that the proposed arrangement in the PIB will better address the problems in the area?

Continued relevance of Niger 4. Delta Development Commission (NDDC) – The major objective of the NDDC is to ensure that the ‘sums received from the allocation of the Federation Account for tackling ecological problems arising from the exploration of oil minerals in the Niger Delta area’ are effectively administered and t"KBZJ JT UIF 1BSUOFS )FBE 5BY managed. However, just like its predecessor, the Oil Mineral Producing Areas Com- &OFSHZ BOE .BOBHFE 4FSWJDFT ,1.( JO /JHFSJB )F DBO CF SFBDIFE mission (OMPADEC), the NDDC appears to have failed in discharging its statutory WJB !XBMFTK

responsibility. Despite the existence of the NDDC and the Ministry of Niger Delta, the NOTE: Interested readers should oil operators continue to sign and implement continue in the online edition on www. Global Memoranda of Understanding thisdaylive.com

WEDNESDAY MARCH 10, 2021 • T H I S D AY

WEDNESDAY MARCH 10, 2021 •T H I S D AY

WEDNESDAY MARCH 10, 2021 • T H I S D AY

IMAGES

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Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

L-R: Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo; former President Goodluck Jonathan and Governor Douye Diri, during the opening of the 1st Bayelsa Governor’s Cup Golf Tournament at the HSD Golf and Country Club, Yenagoa...recently

Member, House of Representatives Committee on Customs and Excise, Rep. Kasimu Maigari; Chairman of the Committee, Rep. Leke Abejide; and another member , Rep. Muktar Ahmed, during the Nigerian Custom Service Budget Defence before the committee, at the National Assembly Complex in Abuja...recently

L-R: Lagos State Governor, Babajide Sanwo-Olu; Group Chairman, CIG Motors Ltd, Chief Diana Chen and Vice Chairman, CIG Motors, Mr. Linus Idahosa, during the signing of agreement for the establishment of a motor assembly plant between LASG and CIG Motors Nigeria ltd at Lagos House, Marina...recently

L-R: Director General, West Africa Health Organization (WAHO), Prof. Stanley Okolo; Representative of ECOWAS President, Madam, Halima Ahmed; Minister of Environment, Mohammad Abubakar and Minister of State Health, Senator, Olorunibe Mamora, during the Handover of COVID-19 critical medical Equipment from ECOWAS and WAHO to the Federal Government of Nigeria in Abuja...recently PHOTO: ENOCK REUBEN

L-R: Events Manager, SPE Nigeria Council, Mr. Udochukwu Akunna; Chairman, Engr. Olatunji Akinwunmi and Vice Chairman, Prof. Olalekan Olafuyi at the press conference on Way Forward for the Oil & Gas Industry Post COVID-19 preceding annual SPE Nigeria Oloibiri lecture and energy forum series held in Lagos...recently

Plateau State Governor, Simon Lalong; Executive Vice Chairman, National Agency for Science and Engineering Infrastructure (NASENI), Prof. Sunday Hassan and Deputy Governor of Plateau, Prof. Sonni Tyoden, during the visit of Executive members of NASENI’s to the Governor in Jos...recently

Director General, National Council for Arts and Culture (NCAC), Otunba Segun Runsewe (right), and the South Korean Ambassador to Nigeria, His Excellency Kim Young Chae, during the Ambassador visit to the NCAC boss in Abuja...recently

President, Chartered Institute of Stockbrokers (CIS), Mr Olatunde Amolegbe (left) and Accountant General of Federation, Mr Ahmed Idris , during courtesy visit of CIS’ Principal Oﬃcers to Idris’ on collaboration for capacity building in Abuja...recently

WEDNESDAY MARCH 10, 2021 • T H I S D AY

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EDUCATION IWD: Empowering the Girl-Child Towards Attaining Academic Excellence Key women leaders in the education, engineering, energy, and judiciary sectors, recently joined their counterparts the world over, to commemorate the 2021 International Women’s Day, themed, ‘Choose to Challenge’. They spoke to Funmi Ogundare on what they are doing differently to educate and empower the girl-child to become successful women in future

he challenges confronting the girlchild in Nigeria are multifaceted. They range from insecurity mostly in the northern part of the country, leading to more girls dropping out of school, sexual harrasment, early marriage, gender-based discrimination, poor sanitation, among others. Unfortunately, with the effect of Covid-19 pandemic taking its toll on the economy, the Nigerian government has not done enough in addressing the socio-economic and cultural issues confronting the girl-child to attain her full potentials and ambitions needed to transit from girlhood to a successful woman. Rather than wait for government, women leaders in education, energy, engineering and judiciary, are lending their support to educate and empower girls in line with the, ‘Choose to Challenge’ theme of the International Women’s Day (IWD), a global day celebrating the social, economic, cultural and political achievements of women. The day, usually commemorated every March 8, also marks a call to action for accelerating girls and women’s equality. The Managing Director, Bridge Nigeria, Ms. Foyinsola Akinjayeju told THISDAY how Bridge had partnered the Nigerian Stock Exchange (NSE) to adopt a public school in Bornu State to enhance teaching and learning outcomes among the pupils especially the girls. According to her, “It is our fourth year that a public school was adopted by the NSE and we are their technical partners in terms of enhancing their learning and teaching outcomes. This is a public school sited close to an Internally Displaced Persons (IDP) camp. The pupils are those we are reaching out to through a life changing work that we are doing in Bridge, to give the girl-child a meaningful life.” She expressed concern about the disparity among the boys and girls especially in the northern part of the country, saying that the partnership has enabled equity and that girls can now access education in the school. “That is one thing that we are passionate about, we do recognise that there could be instances where the girls may not be able to go back to school. This is something we want to continue do, spread the word and find more partners who can support us in reaching more pupils especially the girl-child,”Akinjayeju said. Part of the success, the team had in Bornu State, she noted, was the community buyin which helped in building confidence in parents with the results they are seeing on their children. Akinjayeju said this has allowed them to see the girl-child as someone that must be exposed. The managing director said the IWD theme was apt as the school, has been trying to reinforce on the girl-child that they can become anything they want to be in the future, adding that the narrative of having girls being confined at home is changing, espeacially with developments within and outside Nigeria, where women are placed in key positions. “ A lot of light has been shown on the place of women in business, communities, education and families. For instance, the Director General of World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala has put Nigeria on the world map as to what women can do, “ Akinjayeju said, adding that Bridge Nigeria, connected to the activities that have been lined up for the IWD commemoration. “We had our teachers and pupils participated in the theme, ‘Choose to Challenge’, we took pictures with the hand pose, to show that we support the cause to promote gender equality and speak up against violence against

The Managing Director, Bridge Nigeria, Ms Foyinsola Akinjayeju (middle) commemorating International Women’s Day with primary ﬁve pupils of Bridge International Academies, Lagos...recently women. As part of the activities, we also spoke on specific topics on the achivements of women and building confidence in girls so that they can rise up to any challenge to take up any endeavour across all fields and discipline including Science, Technology, Engineering and Mathematics (STEM). “Our pupils got actual lessons that engaged them through competitions, debate, poem presentations on who the empowered girlchild is. They experienced a wholesome experience for the day and our teachers were also involved in the theme.” Akinjayeju said there is need to honour the potential of girls everywhere, adding that by educating the girl-child and ensuring women are educated, can have transformative effects at a local, national and global level. “Just as the potential WD theme calls everyone to#ChoosetoChallenge gender inequality, every girl has the power to do anything and become anyone. We must make sure that every child,everywhere has an equal chance at thriving.” The immediate past President, Association of Professional Women in Engineering (APWEN), Dr. Felicia Agubata, said the theme of this year’s 2021 IWD is apt, as the girl child has not been treated fairly. She emphaised on the cultural , religious, political , socio- economic barriers that the girl-child would overcome first, to achieve her ambitions of being who and what she wants to be, adding that this starts from the cradle because the girl-child is groomed differently compared with the male counterparts. “The boy-child is groomed to be brave and to take risks both in his career pursuits or professions to enlist in. On the contrary, the girl-child is not expected to push hard or to aspire to actualise her potentials. The society seemingly, defines what she should be and where she should end up.” The emerging scenario is that women are becoming freer to pursue their dreams, as Agubata said today, much more than ever, there are highly competent and technically skilled women , who by power of personal examples, are blazing the trail and showing that skill , intelligence and competence are evenly distributed among the sexes . Under her watch as the President of APWEN, she said the association executed various programmes such as ‘Invent it, Build it’ initiative in partnership with NNPC, to empower the girl- child, as well as increased advocacy for their education. “Scholarships were awarded to female

pupils to carter for their education from primary school level to university. A total of 81 female pupils benefited from across the six geopolitical zones and there was also an increased advocacy for girl -child education that took us round the six geopolitical zones in the country.” The former president of the association also launched the ‘Invent it, Innovate Challenge’, for university undergraduates to enable female students explore and direct their talents toward innovation and entrepreneurship. According to her, “we established an advocacy / diversity and inclusion committees to draw up a gender and diversity policy for the Professional Engineering Institutions (PEI) in Nigeria under the sponsorship of Royal Academy of Engineers. The girls, were exposed to role models from local communities that they can relate with. These are people whose stories, names , schools attended and back grounds resonate with them.” This move, Agubata noted, sparked excitement and imbibed belief in the pupils and consequently improved girl-child enrollment across the six geopolitical zones in Nigeria. The Executive Secretary, Renewable Energy Association of Nigeria (REAN), Mrs. Lande Abudu explained to THISDAY how it had collaborated with other associations such as Women in Energy Network (WIEN) on programmes to support the girl-child. “ At REAN, “our primary focus centres on our vision to promote strategies that will improve the contribution of renewable energy up to 40 per cent of the national energy mix by 2030. That said, I am a female executive secretary who was once a girl-child so there is a link. We need to ensure that the girl-child, can avail herself of all the opportunities available to succeed. “ Specifically, we collaborate with our many partners on initiatives that support this. An example is our partnership with the Women in Energy Network (WIEN) on the Supernova girl initiative, aimed at encouraging girls into STEM fields and to support them in their choice.” Asked what empowering the girl-child potends for the society, Abudu said, “It can only be beneficial when half of the global population can optimally contribute to society. We must all work deliberately towards creating an environment where the girl-child is free from discrimination; she has equal access to education and is protected from abuse. In an energy context, she has access to clean

reliable energy and is not forced to inhale unhealthy smoke for cooking. Given an opportunity, the girl-child will grow to be that women that will contribute her quota to society.” The President of WIEN, Mrs. Funmi Ogbue said there is need to encourage the girl-child to aspire to come into the energy sector, adding that it is a male dominated industry which does not come naturally to women. “ That is why we are pushing the Supernova girl, so they can see the industry as interesting and attractive as banking, law, fashion or music industries.” She said since 60 per cent of the country’s population are girls, they should be properly enlightened and equipped to contribute to the development of the energy industry, so that society can benefit immensely. As part of activities to commemorate the IWD, Cycology Riding Club launched the ‘Cycology Amazon Ride’, an all female cycling group aimed at promoting healthy lifestyle among women, as well as changing the narratives against gender bias and inequality in a male dominated sport. A lawyer and Secretary of the Club , Mrs. Temitope George, told THISDAY that since 2011, through its social impact initiative, it has been providing bicycles for girls in rural areas, as a means of transportation to get to school, rather than they working long distances. “One of our objectives is promoting healthy living through cycling and creating social impact, so CSR is what we do as a club. One of our CSR initiative is ‘Ride to School’, where we actually provide bicycles for girls who had to work long distances to get to school in rural areas, “ she said, adding that as a group, the club is out to showcase the women who are already changing the narratives in a man’s world. “A lot of women who came out today, are successful women, industry leaders and senior civil servants changing the narrative, but I feel that a lot more can be done and part of what we are doing today, is to let people who are seeing us, say that if these women can do it, they can do it too.” George said by empowering the girl-child you are empowering the nation as they have the capability to replicate things to achieve what they want. The first female captain of the club, Mrs. Bimpe Olufemi stressed the need for girls to get involve in sports at a younger age because mobility is very important. “You must live a healthy lifestyle in terms of the food that you eat or what you are doing. You need to keep fit. We all know that the mortality age for men and women is very low because they lived a sedentary lifestyle for many years. So the sooner we start getting our girls in some sort of sports, the better.” She expressed concern about the patriarchal society we live in saying that with the right type of education, the girl-child should be given equal opportunities like their male counterparts, so that the society can be better for it. “We live in a very patriarchal society. When we were growing up, the boy will be asked to go and do something, while the girl will be asked to go into the kitchen. It is natural that in a society like this, which is our reality, girls are going to be treated differently from the boys, but with the right education about what is going on in other parts of the world, it then makes it easier to guide our own children aright. There are roles that men should play and there are also roles that women should play. There are also roles that men and women should play, women should not be left out of those spaces,” Olufemi stressed.

T H I S D AY ˾ MARCH 10, 2021

EDUCATION

Ex-VP Sambo Hails Igbinedion Varsity on Quality Education Delivery Adibe Emenyonu in Benin Cityi Former Vice President of Nigeria, Mohammed Namadi Sambo, has commended the country’s premier private University, Igbinedion University Okada for distinguishing itself in academic excellence and value-driven education for over two decades Namadi Sambo who gave the commendations while speaking at the 22nd matriculation ceremony of the university, held physically and virtually, said its great feat achieved in creating entrepreneurs instead of job seekers, attests to its quest for excellence by the founder and Chancellor, Chief Gabriel Osawaru Igbinedion, the Esama of Benin, cannot be quantified. He said while the security challenges in the country has some direct relationship with the massive job deficit, Igbinedion University, Okada, has set the pace for breeding skilled graduates with the ability to handle high skilled jobs. The former vice president advised the matriculating students to take advantage of world class teaching and learning facilities provided by the institution to be change agents. Earlier in his remarks,

the Vice Chancellor of the university, Professor Lawrence Ezemonye said, “Igbinedion University, is setting new standards in producing future ready and innovation driven students in line with the institution’s smart campus and entrepreneurial inclusive vision. The Technical Adviser on Gas Business and Policy Implementation to the Minister of State Petroleum Resources and Guest Speaker, Mr. Justice Derefaka who joined via Zoom, spoke on the topic, ‘Refocussing Value Driven Education In The Digital Age Through the Lens Entrepreneurship, Enterprise and Global Competitiveness: Lessons For Nigeria’. He expressed satisfaction with management of the institution, noting that Nigeria’s first premier private university is a leading ivory tower in the country. Highlights of the ceremony was the presentation of a plaque of honour to the former Vice President Sambo, by the VC, who lauded Sambo’s sterling qualities. He noted that his numerous contributions to the educational development in the country earned him the honour.

Erogbobo Tasks Sanwo-Olu on LASGEMS Restoration Funmi Ogundare The inventor of the Lagos State Government Education Management Systems (LASGEMS), Mr. Yomi Erogbogbo, has appealed to the Lagos State Governor, Mr Babajide Sanwo-Olu, to restore the project, saying that the move will go a long way in benefitting the state. The project was introduced into the Lagos State education sector in 2006 to manage the information of all students in both private and secondary schools for on-line access, but was forced to a halt due to dispute which is now before an arbitration tribunal. Erogbogbo in an interview, with THISDAY, emphasised on what led to the arbitration saying it is to determine continuity, recognition for him as the inventor, project windup options rather than threatened disengagement and liabilities where applicable. According to him, “In November 2019 after obtaining an order from a Lagos High court to proceed to arbitration in a case filed February 2019, but dispute resolved by Governor

Ambode in March 2019 by approving the Ministry of Justice internal mediation three main solution prayers to pay fees as at 2015, conclude new Memorandum of Understanding (MoU) and the contractual system integration. We opted not to proceed with arbitration, advised current administration to conclude with the approved prayers deliberately stalled by immediate past Deputy Governor that also served as education commissioner.” Shocking response from current administration, he noted, was a disengagement notice from the justice ministry. “We objected. Truce meeting chaired by Solicitor General and Permanent Secretary held March 9, 2020. Education ministry maintained disengagement stance while a grade level 13 education officer reeled out lies claiming he supervised LASGEMS and schools never used it. Described LASGEMS reports presented at the meeting as recently made-up. Surprisingly confirmed that government no longer require the 2.6 million statutory lifetime student records maintained by LASGEMS placed on hold being obsolete.

Rewarded thereafter and made a personal assistant to the Honourable Commissioner of Education. “The obvious efforts to use official opportunities for business empowerment, achievements as insider contractors uncontrolled, appeals ignored, concerns for integrity and the state amongst others influenced approaching arbitration by June 2020, “Erogbogbo stressed. The Information Technology Consultant expressed confidence that with about two years in office, Governor Sanwo-Olu will be more comfortable with facts and developments to objectively approve the return of LASGEMS glory at a faster paced generalisation for continuing growing benefits of the state, adding, “the successfully established education management backbone will be evolving with technology advancements, mobile technology inclusive. Surely, data gap necessitated by past intrigues would be seamlessly and timely bridged, by an inbuilt system facility. He also explained the aims of LASGEMS, saying, that it was launched in 2006

by the Asiwaju Bola Ahmed Tinubu-led dynamic 2003-2007 administration that actualised the statutory legacy established by LASGEMS law of 2007, capturing management of LASGEMS. “The aims are; registration of students with government; electronic database of student records, maintaining comprehensive database records of all students in the state public/private primary, junior and senior secondary schools, collect and maintain personal details of all students, including contact information of parents and guardians/ sponsors, collate and update academic performance details. “For cost-effectiveness, the vibrant leadership directed for the activation of LASGEMS External Examination Registration feature from the first functional academic year, therefore partnered with WAEC from year 2007 WASSCE for automated registration of government sponsored SS three final year candidates. “Unbelievably, it pruned the number of annual candidates from over 110,000 to less 50,000 eliminating illegal candidates.

Bauchi Govt Sets N400m for Digital Education Segun Awofadejioin Bauchi Bauchi State Government has earmarked N400 million for digital education in an effort aimed at advancing the sector. Governor Bala Abdulkadir Mohammed disclosed this during an advocacy visit of the Director of the Korean International Development Agency, Mr Woochang Chan and other officials of the agency paid him at the Council Chamber, Government House, Bauchi. The governor said the state government has already developed a model and framework to fast-track the implementation of the policy in the state to ensure better performance in teaching and learning processes. He said his administration will open new frontiers in education in order to leverage on opportunities available for the state at various levels of government, development partners and other critical stakeholders. Governor Bala Mohammed said the administration has made a huge investment to advance education sector and it will work with education administrators to achieve the desired objectives. “We are highly delighted today to receive you on this very important and historic visit and I am very familiar and conversant with what your agency is doing or has done to Nigeria in terms of bilateral relations.

“The smart school was started by me when I was the FCT Minister which is now a national centre for excellence in Nigeria.” He commended the Universal Basic Education Commission ( UBEC) for assisting the state government to develop and overcome the numerous challenges facing education, adding that his administration will expand its relationship with partners to enable it benefit from their activities. Speaking on the mission of their visit to Bauchi, the Director of the Korean International Development Agency, Mr Woochang Chan noted that Bauchi State has been selected for the establishment of a smart school for the North-East zone. He said the agency has come up with a digital transformation plan to assist states in the management of schools to develop their education sector for the benefit of younger generation. “The smart school was initiated to change the way and process of learning and teaching to ensure compliance in accordance with international best practice in education.” On the mass digital literacy programme introduced in Bauchi, the State Commissioner for Education, Dr. Aliyu Tilde said the initiative is to equip the students and pupils with the basic skills of information and technology.

Students of Olashore International School, Iloko-Ijesha, Osun State, during their leadership outreach programme on ‘Towel for Girls’, held recently

Experts Call for Teachers’ Reform in Tackling Education Challenges Funmi Ogundare Stakeholders in the education sector, recently, converged on Zoom, for the second edition of Save Education in Nigeria dialogue, aimed at ensuring teachers’ reformation in the sector. The programme, titled, ‘Preparing Teachers for Education Reforms’, was organised by the Concerned Parents and Educators initiative, a non government organisation at the forefront of education reforms in Nigeria. A motivational speaker and Business Consultant, Mr. Fela Durotoye said the role of reforming the sector, must not be left to the government alone, adding that everybody must get involved, stay involved and many people must also be involved in the process.

According to him, “when custodians arise in the education sector, greatness will occur. It is the quality of intellectual capital of a nation that makes it great.” He said the country must provide the needed opportunity for the next generation and that values must be inculcated into the children through quality education. Durotoye stressed the need for for people to invest in teachers, endorse scholarships for them, ensure that they are well trained, as well as providing scholarship oportunities for their children,adding,” the country needs great teachers to build quality education.” The Lagos State Commissioner for Education, Mrs. Folasade Adefisayo, said though the education sector is confronted with myriad of challenges, there is need for

everyone to focus on solutions rather than the problems “The problems are there; we should always approach the problems in education sector from the point of solution. We cannot change the country’s curriculum, but we can change and influence our teaching methodology. We have decided to ensure all our teachers are up-to-date. School leadership is critical, many schools are also in terrible state.“ The Commissioner for Education, Oyo State, Mr.Olasunkanmi Olaleye affirmed that it was important to always recruit the best qualified teachers. “We are careful about the quality of teachers being recruited to our schools in Oyo. Recently, we recruited 500 first Class degree holders as teachers, there is also continuous training that will promote the growth

of education sector, teachers in Oyo State are respected as our teachers earn 7 per cent higher than their counterparts in civil services.” While sharing her thoughts on the theme of the symposium, Ogun State Special Adviser on Education, Mrs. Ronke Soyombo, called for a round table meeting for stakeholders to review the quality of education in the country. “ What exactly is your vision as a leader? Right from the president who is leading, do we have the right leaders in place? We need support of those who have done well in education and we should also look at technology. We have lost values in our schools. Where are the role models? We should also know that what worked before coronavirus will not work now, “ she stressed.

T H I S D AY ˾ MARCH 10, 2021

EDUCATION

Emmanuel Approves Recruitment of 1,000 Primary School Teachers Okon Bassey in Uyo Akwa Ibom State Governor, Mr. Udom Emmanuel has directed that 1,000 primary school teachers be recruited in the state in line with the state of emergency declared in the education sector. The Governor gave the directive at the inauguration of a new board for the State Universal Basic Education Board (SUBEB) with the immediate past chairman of the People’s Democratic Party (PDP), Obong Paul Ekpo as its chairman. The recruitment is in addition to the employment of 1,000 secondary school teachers which screening is on going with over

43, 000 people showing interest. He expressed confidence on the new board members, saying that primary education is key to the development of any society. He urged them to live up to expectations of giving primary education a facelift in line with the completion agenda. “A lot of people have heard that since last year, we have been screaming that we are declaring a state of emergency in the education sector and we are not likely going to finish that in two years. It is something that will span through a minimum of 10 years, but we must start the foundation this year.

“We have invested a whole lot in infrastructure, and basic education is key, that is why the people we appoint to head the primary board, are people that can best represent us anywhere,”he stressed Emmanuel appealed to the board to swing into action,while soliciting absolute loyalty from persons given responsibilities. He however frowned at treacherous activities saying,”It is extremely disappointing to see people who are treacherous and whoever is treacherous can never go unpunished.” The governor commended the past Chairman of the board, Professor Maria Ikrok and her team for a job well done.

In his responding, the new Chairman of the board, Obong Ekpo, thanked God and the governor for finding him fit for the appointment, while pledging to work hard and be passionate to improve the primary education system in line with the governor’s mission. “As the governor did mention, a state of emergency has been declared in the state education sector. On behalf of our board, we pledge to be committed to make critical contributions that will improve our education system.” Other board members include Elder Godwin Enoidem, Mr. Ekong Ambrose, Mr. Iniobong Akpan and Mr. Jonny Udoh.

L-R: The Rector of Yaba College of Technology, Mr. Obafemi Omokungbe and Managing Director of Samsung Electronics Nigeria, Mr. Dae Hee Kim (middle) with other oﬃcials of the college, during the unveiling of Samsung Innovation Hub at the college... recently

Samsung Unveils Innovation Hub in Yabatech Funmi Ogundare In an effort aimed at enhancing the education of students through technology, Samsung has donated an inovation hub to Yaba College of Technology (Yabatech). The innovation hub, situated at the college’s Centre for Information Technology and Management ( CITM), has been equipped with 50 monitors, desktops ,Samsung e-boards, flip boards, cooling units and a more convenient set of furniture. Already, the centre headed by its Director, Mr. Adigun Oyeranmi, has developed a series of programmes, to power the project as a learning hub for students studying in the faculty of Computer Science, as well as those with interest in technology. Speaking at the unveiling ceremony, held recently, in Lagos, the Managing Director of Samsung Nigeria, Mr. Danny Kim noted that the organisation recognises the role technology plays in nation building adding,

“ the innovation hub is designed to support the dreams of young Nigerians. In the last few weeks, we have worked collaboratively with the institution in transforming the former computer lab to an innovation hub worthy of repute.” The Director, Consumer Electronics, Samsung, Mrs. Remi Ogunsan, said the college was selected for the project bearing in mind its immediate need and track record of excellence, adding that the organisation visited to inspect the facility they have on ground. According to her, “We have a lot of options that came to mind, but we wanted to give institutions that really needed that support and assistant. Yabatech came to mind. As the rector had said, the college is one of the first polytechnic in the country. So we came down here to see their facilities and we knew this is where we had to start the project. So it was because they have set the track records of excellence already and we wanted to collaborate with

such an institution.” She said the project, will give the student the opportunity to explore the interactive solutions available to enhance their education, while expressing optimism that the organisation will expand the project to other tertiary institutions, who indicate interest and are willing to maintain it. In his remarks, the Rector of the College, Mr. Obafemi Omokungbe said the gesture was a welcome development, adding that the lab is going to be used for its digital and e-learning centre , considering its plans to commence online programmes for students due to the Covid-19 pandemic. “We are going to put it to full use and see that we commence that as soon as possible. We had set up a committee to see how we can start the e-learning programme in phases so that those courses that do not involve practicals will be those in phase one. So we were looking at setting up a workstation for the e-learning centre. Now that Samsung has come to our

aid, we will start it as soon as possible. Again, we can have conferences online with ease. This is one of the benefit of the centre to the college,” he said. He promised that the facility will be maintained as it is doing for others donated by other organisations”, adding that the college was looking at the possibility of an IGR. “Those facilities donated to the college will be managed well and secured, some are still there, while we have been able to improve on it as a college. We don’t just wait for donors to come and service them. For instance, we have a printing machine donated by Canon, we have been using that to train students. “We are also looking at the possibility of an IGR because we find out that it is one of the latest machines that have several colour separation which can be put to use and we find out that it is not available anywhere. We are training staff and students so that they can useful,” Omokungbe stressed.

Victims Support Fund Donates Solar Boreholes to Nasarawa Schools Igbawase Ukumba in Laﬁa Following an unprecedented spike in new COVID-19 cases across the country, the Victim Support Fund (VSF) Emergency Task Force on COVID-19, has donated three boreholes, sanita-

tion facilities to three secondary schools in Nasarawa State. Chairman of the VSF Emergency Task Force on COVID-19, Mrs. Toyosi Akerele-Ogunsiji, presented the facilities to the benefiting schools at the Government Science Secondary

School, Wamba, in Wamba Local Government Area of the state. The benefiting schools in the state include Government Science Secondary School, Wamba; Government Secondary School, Kekura and Government Secondary School, Panda.

Speaking at the presentation ceremony, Akerele-Ogunsiji, noted that each of the three benefiting school is to receive a solar powered borehole, four hand washing stations and 2,000 pieces of reusable face masks.

KEHINDE OMORU www.kayomoru.com

Soothing Balm for Angry Teenagers We all know that where anger is not controlled, it can damage a lot in the life of the individual affected. Teenagers with tendencies for instance, yell and scream, launch verbal abuses, damage properties, push other people around, physically attack others, may even go on to carry out self-injurious behaviour. It is important at regular points, to reassure troubled teenagers that everyone can change and that they can be a success. Let them know that they can make positive changes in their lives which would ultimately make their life easier and more enjoyable. So supporting them to control their own anger would definitely be a positive move. Your anger management for your teenager must firstly support them to be self-aware. You would need to guide them to evaluate their own feelings and to understand the reasons for their anger. Your teenage anger management plans should incorporate activities like the following; An agreed plan of action in the event of an outburst, practicing self-control, pausing a few seconds to think about the effects of their reactions to situations. Making a choice, picking an option which would bring about effective results. Reviewing their own progress and seeing what the outcome of their choices is. By using this plan each time they are confronted with irritating situations, eventually the teenager should be capable of dealing with confrontations much better. Teenagers have their own minds with their likes and dislikes. Suggesting techniques like exercising or listening to music might not be effective anger management for many Nigerian teenagers. Using their own likes, as distractions, would be a better tool to achieve the desired behavior. These should be techniques which they are willing to try when they feel angry or threatened. Helping a teenager to be successful in anger management, may require hours or months or even years of hard work and tears. However, realising that your youngster is being spared from a future of recklessness is worth every effort. Success would only be achieved when the teenager is able to accept responsibility for their own actions and realise they need to make changes.

Omoru is a freelance writer, education, health and social care advocate

Black History Month: Scholars Advocate More Sensitisation to Change Narrative The Director, Institute of African and Diaspora Studies, University of Lagos, Professor Muyiwa Faleye has called on Africans and Nigerians especially, to intensify efforts in changing the narrative the west has about the black man. He said this at the 2021 celebration of the Black History Month in Lagos, themed, ‘Black Family, Representation and Diversity’. Faleye, who described the development as worrisome and unfortunate, said there is the need to come together as a people and as a race to take up the challenge and rewrite the story for the benefit of the black man in a more positive manner. ‘’Today, we are celebrating black achievement, black culture and black civilisation and everything that is good about the black race. ‘’I have always said that the black man has a badge of black contempt. He wears the badge of black contempt and it is up to us to rewrite the narratives that will show that there are a lot of things that black people have achieved and could achieve. ‘’But I have also always said that running away from our country to other people’s

country without first looking inward on what we can do to improve our country, is never a great way to celebrate black achievement.” Faleye added: ‘’The history of mankind shows that black people have done a lot in the civilisation of the rest of the world. Therefore, it is important for us to hold onto these achievements, build upon them and make black people believe in themselves, which is very important. We should believe that we can achieve.’’ The director said it is disheartening to see how people will want to hold onto, and believe the narrative the west tells about the black man, adding that it is unfortunate. “Allowing other people to shave your head in your absence or allowing others to tell your story without you having an input to the story is one of the greatest challenges we have as blacks and black scholars. ‘’However, let me state that we must always strive too, to do our own biddings in our own little way. For instance, with what is currently going on in Africa or Nigeria, it is not the sole responsibility of the government. It takes all hands to be on deck

WEDNESDAY MARCH 10, 2021 • T H I S D AY

REJOINDER RE: ALLEGED $850M FRAUD: REOPEN INVESTIGATION ON LULU-BRIGGS, FIRM, MONI PULO – DAN OBUEKWE’S WIDOW TASKS EFCC 9. Shortly after the payment of the compensation, Obuekwe came back to the High Chief and pleaded for forgiveness for his misadventures in seeking to assert any claim in the business of MPL and OPL 230/OML 114. In doing so, Obuekwe made a series of overtures and cash requests for a variety of needs, ranging from the burial of Obuekwe’s late mother and financial resuscitation; and the High Chief was gracious enough to continue to provide financial support to Obuekwe on very compassionate 2. MPL wishes to state that the contents of the said publication are grounds as an old friend. provocative, malicious, libelous and a barefaced attempt to engage in a smear campaign against MPL and the person of our late Charmian and 10. Despite the best efforts of the High Chief, and in similar and very Patriarch of the Lulu-Briggs family, the late High Chief (Dr.) Olu Benson desperate move, Obuekwe filed another lawsuit in 2012, claiming the sum Lulu-Briggs (the High Chief), whose picture was boldly of $976million on the allegation that he was entitled to 30% stake in the implanted/endorsed right below the caption of the publication. in the said business and oil block (OPL 230/OML 114) owned by MPL. The suit was a publication, spirited efforts were made to pour vituperation on MPL and its complete fiasco as the court found no merit in Obuekwe’s alleged claim to personnel by attacking their personality and alleging forgeries, bribery and the equity stake. In unequivocal terms, the court declared that Obuekwe other crimes against them. failed to show any evidence of his ownership of shares in MPL to entitle him to the claim for dividend and profit from OML 230/OML 114. 3. While MPL and its personnel will seek the appropriate legal remedies Accordingly, the action or claim for the sum of $976million was dismissed against the purveyors of this most vicious publication at the appropriate in 2015 and the judgment was never appealed. With the judgment, MPL forum, it is imperative to, at least, clear the air of some of the most had thought that the ghost of this amorphous claim in MPL/OPL 230/OML unfounded and atrocious claims that have been peddled in the said 114 had been finally laid to rest. publication. 11. Much to MPL’s chagrin and upon the demise of Obuekwe, a few 4. The administrators of the estate and widow of Dan Obuekwe elements surfaced, parading themselves as having the power of attorney (Obuekwe) are the ones at whose instance the petition to the EFCC, the to represent the estate of Obuekwe. These elements wrote a deluge of subject of the publication, is said to have been presented. The said petitions to any conceivable government agency in Nigeria – the EFCC, administrators and widow are the same people that have filed an action the police, the Office of the Attorney-General of the Federation, the before the Federal High Court, Calabar, wherein they are making the Presidency, the DPR etc. – alleging that Obuekwe owned shares in same claims as in the publication. The action was filed on 4th February MPL/OPL 230/OML 114, a claim that had been dismissed in 2015. All of 2021 by the widow of Obuekwe and one of his sons, both of whom allege these petitions were also made subject of the new suit filed on behalf of the that they are the administrators of the estate of Obuekwe and pray the estate of Obuekwe on 4th February 2021. court to award them the sum of $850million on the allegation that Obuekwe was a shareholder in MPL with 30% equity stake in the company 12. In all the artifice as highlighted above, MPL has remained unruffled in and OPL 230/OML 114. In this suit, the said widow and administrators defending itself and its shareholders against the dubious claims by which reeled out a litany of the earlier petitions which are also referenced in the some questionable characters are seeking to reap where they have not subject publication. MPL then wonders that having submitted the same sown. The colossal failure in the business of filing petitions might have claims to the court for adjudication, the same people would again turn to ignited the need to file the new suit. One would think that the said Plaintiffs the EFCC, thereby setting the EFCC on a collision course with the court of would allow the judicial process put in motion by them to run its course before making any other subterranean move. Suffice to state that MPL is competent jurisdiction. prepared to meet the claims in court and present its compelling evidence 5. MPL shall employ the appropriate legal procedure to deal with this issue that will eventually lead to its vindication and the ultimate defeat of this of submitting a matter which is pending before a Court of competent dubious claim. As a law-abiding corporate organization with open records, jurisdiction to the court of public opinion as done in the subject MPL fears no accusation, and like the others before it, the present one will publication. definitely fail as did the others. 1. The attention of Moni Pulo Limited (MPL) has been drawn to a publication titled “ALLEGED $850M FRAUD: REOPEN INVESTIGATION ON LULU-BRIGGS, FIRM, MONI PULO – DAN OBUEKWE’S WIDOW TASKS EFCC” published online by Daily Times on 8th March 2021 at https://dailytimes.ng/alleged-850m-fraud-reopen-investigation-onlulu-briggs-firm-moni-pulo-dan-obuekwes-widow-tasks-efcc/.

6. Back in 2001, the widow of Obuekwe, with the support of and connivance with her husband, had joined in a court action as plaintiffs to claim interest in MPL’s oil block (OPL 230), a move they later aborted. Both Obuekwe and his widow formally wrote to the late High Chief for pardon with a pledge to withdraw the case and that none of them would ever again make any such claim in the future. 7. Despite the aborted move in 2001, Obuekwe wrote a series of petitions to the EFCC between 2007 and 2008 and after a detailed investigation, the EFCC concluded that there was no case of fraud or commission of any crime against MPL or its personnel. When the EFCC challenged him to provide proof of payment for the shares, his refrain was that he ‘sweated’ or performed ‘services’ for the company in exchange for the shares. 8. Following his admission that he did not pay for any shares, the EFCC officials concluded that there was no valid claim for shares but that in the interest of peace, MPL should compensate Obuekwe and his ilk that were the architect of the infamous move/petition for services they purportedly rendered to MPL. This led to the signing of the deed of settlement dated 2008, by which terms, Moni Pulo paid Dan Obuekwe the sum of N366,900,000 (Three Hundred and Sixty Six Million, Nine Hundred Thousand Naira) as full and final settlement of all the claims for the purported ‘services’.

13. MPL notes with concern the allegations of forgery and bribery of EFCC officials made against Dr. Mrs. Seinye O.B. Lulu-Briggs in the publication. One begins to wonder how any person would indict the EFCC with an allegation of bribery and in the same breath want the same agency to get involved in the same matter, albeit sub judice. 14. In the defence and preservation of her hard-earned reputation and honour, Dr. Mrs. Seinye O.B. Lulu-Briggs will seek the appropriate legal remedies to deal with such acts of deliberate falsehood, blackmail and campaign of calumny as put forth against her person in the publication under reference. Dr. Mrs. Seinye O.B Lulu-Briggs trusts and affirms the capacity of the Nigerian justice system to mete out justice without fear or favour. In line with their faith in the judicial process, Dr. Mrs. O. B LuluBriggs and MPL will approach the court in respect of the malicious attempt to tarnish their reputation. As a leading indigenous oil and gas exploration and production company in Nigeria with a sterling reputation in the global oil and gas business, MPL shall continue to resist and fend off any attempt by any person or group, howsoever well placed, to undermine its legitimate business by marauders who have no iota of investment in its business. Signed Moni Pulo Limited

T H I S D AY ˾ ͯͮ˜ ͰͮͰͯ

CITYSTRINGS

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Awa Kalu, SAN @ 68, Marches On Sonny Ajala ‘It is only as we develop others that we permanently succeed’ by Harvey S. Firestone.

hen shortly after the end of the Nigerian and defunct Biafra hostility of the 19671970 era, the young, tall, handsome, water fatigued but determined Awa Uma Kalu boarded the Bus sometime in 1973 en route the university of Ife to study Law; little could anyone have correctly predicted the breath, length and extent of his influence in his chosen vocation in time to come. For the past 43 years, Awa Kalu has quietly but steadily influenced generation of lawyers to aspire to attain distinction in life. Yes, impactful influence though intangible is considered a humongous wealth and preferred legacy of enduring nature. The status of an influencer of an enduring nature is earned by chronicle of creative, positive and dynamic change around/within one’s operational environment. According to John Maxwell; a leader of considerate influence, is not just a trailblazer but a person that others intentionally follow behind, follow his lead and act on his vision. Frankly, Awa Kalu fits squarely into the mold as numerous legal minds and aspiring ones look unto him as beacon of inspiration. The academic and professional laurels of Awa Kalu who was born on March 9, 1953 are sufficiently documented in the public domain. His parents were devout Christians from Ohafia, in the present Abia State. He had his early education at the then Anglican Grammar School, Umuahia and the famous Methodist College, Uzuakoli where he attended classes for his “A” Levels, majoring in physics, Chemistry, and Biology. He enrolled to study Law at the then University of Ife (now Obafemi Awolowo University) Ile-Ife and abandoned the “A” Levels and distinguished himself as an academic numero uno and won several elite awards. Some of such awards were Olu Ayoola prize as Best Over-all LL.B. part 1. Student; Irvine & Bonner Scholarship as best over-all LL.B. part II student and Justice Madaraan prize as best over-all final year law student. He graduated in 1977 and earned the LL.B (Hons) Upper Second Class Degree. He is among the 1978 set of Nigeria Law School that is adjudged eminent in the legal community. Awa Kalu, SAN who is fondly and variously called ‘Prof, Papa, Papus and ‘Wakay by his peers and friends was at different times, Law Lecturer at the Law Faculty of the University of Lagos and the Imo (now Abia) State University. The litany of his students from the two citadels of learning is acquitting themselves admirably in diverse fields of human endeavours; and include Judges, Learned Silks and well respected members of the Outer Bar. As a teaching and research university don, Awa Kalu, SAN was consummate. As a practicing lawyer, he is painstaking. He leaves no stone unturned in marshaling out succinctly what he considers the crux of the dispute. As a technocrat, he is meticulous and mindful of the verdict of history. He enjoys the respect and the admiration of his superiors, mates and subordinates alike. In 1989, he was appointed Special Adviser to the then Hon. Attorney-General of the Federation and Minister of Justice and he had the unique opportunity of serving two Attorneys General in a stretch, namely; Hon. Prince Bola Ajibola SAN, KBE (who served meritoriously as a Judge at the International Court of Justices) and Hon. Sir Clement Akpamgbo SAN, both of illustrious memories. It is said that this era of the Federal Ministry of Justice witnessed advancement of the frontiers of our corpus as the hitherto moribund All Nigeria Law Reports was revitalized. The revised Laws of the Federation 1990 were unveiled. The maiden Company and Allied Matters Decree 1990 and the Banking and Other Financial Institutions Act (BOFIA) were enacted and

Kalu the Journal of the Justice Ministry known as ‘JUSTICE was initiated. Awa U. Kalu’s testimonial in public service both at national, sub-regional, continental and international fora is a veritable reference to budding jurists. At different times he was Secretary National Committee on Corruption and Economic Crimes; Secretary National Committee on Malpractices in Banks and other Financial Institutions; Member, National Committee on Town Planning Law in Nigeria; Member, Editorial Committee, All Nigeria Law Reports; He was also a member of the Nigerian Delegation on the Democratization Process in Ethiopia, 1992; Member Steering Committee of the 2nd, All-Africa Law Ministers Conference, Cairo Egypt,1992; Member, Nigerian Delegation to the 46th and 47th Session of the UN General Assembly 1991 and 1992; Delegate, Human Rights Workshop, Banjul, the Gambia, 1989: He also provided a platform for robust academic and intellectual pursuit through the publication of Lawyers’ Bi-Annual, a journal of Nigeria and Comparative Law of which he is the Editor-in-chief. At the dawn of democratic governance in 1999, Awa Kalu was appointed the Attorney-General and-Commissioner for Justice, Government of Abia State and he served in that capacity from 1999 till 2006. To analysts

of Abia State developmental strides, his tenure as AG, witnessed enhanced efficiency in the justice sector and the State government framework in its entirety owing largely to far reaching policy over haul at his behest of Awa Kalu. A historical touchstone of that era is the legal contest the Attorney-General of Abia State together with the AttorneysGeneral of the other 35 States approached the Supreme Court in its original jurisdiction to seek the interpretation of some sections of the Electoral Act, 2001. The celebrated dispute is reported as Attorney General of Abia State & 35 ORS. vs. Attorney General of the Federation (2002) 6 NWLR (PT. 763) AT PAGE 264. Awa Kalu has the uncommon dexterity to put to test existing legal principles with the objective of subjecting the law to satisfy contemporary human needs in sync with the sociological school of jurisprudence that sees law as instrument of social engineering. He is in pre-eminent good standing with his constituents. He is accessible, forthright and often laced his penetrating insight on matters of law with good sense of humour. As a Lecturer in the Law of Evidence, Criminal Law, and Law of thoughts etc, he was delightful to his students as his illustrations stick to the memory for all time retention. His sense of humility, candour, comportment and fidelity to the justice sector is unique and indeed exemplary. In recognition of his sterling qualities as an advocate, Awa Uma Kalu was on August 3, 2000 conferred with the distinction and privilege of the rank of Senior Advocate of Nigeria by the Legal Practitioners Privileges Committee. Today 9th March, 1953, as he celebrates his 68 years of impactful life, his family, friends, students, associates, colleagues and admirers warmly felicitate with him for the giant footprints in the legal horizon for the past 20 years as a distinguished member of the elite inner Bar. Of significant note is that in addition to the iconic roles, Awa Kalu, SAN played in the teaching and mentoring of generation of lawyers that passed through him at the University of Lagos and Abia

State University, he has as a member of the Legal Practitioners Privileges Committee profiled a galaxy of lawyers that were admitted to the rank of SAN for the two terms that he served in that capacity from 2015 to 2019. Furthermore, Awa Kalu, SAN was again decorated with the additional recognition and professional award of the prestigious Fellow of the Nigeria Institute of Advanced Legal Studies. As is the case with mortals, Awa Kalu, SAN has had his bumpy rides in life. For instance, having lost his ‘hero-father very early in life, he battled with the post-civil war economic asphyxia that was the lot of persons of South-Eastern Extraction to acquire his education by the combined sheer determination and struggle of his beloved mother who was a teacher. Between years 2016 and 2017, he suffered health turbulence that occasioned multiple surgeries under extreme emergency situations within and outside the country. For the great deliverance by God Almighty and the restoration of his wellness, Awa Kalu, SAN, his dotting wife, EGORO, an astute lawyer herself together with their lovely children and grandchildren are exceedingly grateful to God. It is befitting therefore, that as Awa Kalu, SAN today reflects on his journey these 68 years on planet earth and with innate resolve to march on to the biblical year of age 70 and beyond; his family, friends, exstudents, colleagues and admirers propose a toast of good health and all round serenity of the mind. Undoubtedly, turning 68 years in our clime together with the commemoration of 20 solid years of elevation to the elite rank of Senior Advocate of Nigeria are indeed worthy milestones that deserve the rolling out of the drums for measured celebration. HAPPY BIRTHDAY my venerated teacher and learned brother Silk, Chief Awa Kalu, SAN; the ÓNOCHIE, Enia of Ohafia Udumeze! ...Dr. Sonny Ajala, SAN, a legal practitioner writes from Abuja.

Marwa Appoints Ighodalo, Others as NDLEA Special Purpose Committee Members Chiemelie Ezeobi

he National Drug Law Enforcement Agency (NDLEA) has appointed the President, The Drug Salvation Foundation and National Coordinator, NDLEA Celebrity Drug Free Club, Wilson Ighodalo, as a member of NDLEA Special Purpose Committee (SPC). Ighodalo and several others were appointed to the committee with the goal of mobilising Nigerians to take ownership of the fight against drug abuse. The honour was bestowed on the anti- drug campaigners in Abuja during the inauguration of the “Special Purpose Committee (SPC)” to mobilise Nigerians take ownership of the fight against drug abuse. Accepting the honour, Ighodalo noted that he was “ humbled and honoured to be member of NDLEA Special Purpose Committee”, adding

President, The Drug Salvation Foundation and National Coordinator, NDLEA Celebrity Drug Free Club, Wilson Ighodalo with Chairman Chief/Executive Oﬃcer, NDLEA, Mohamed Marwa (Rtd), after Ighodalo's induction as a member of NDLEA Special Purpose Committee

Ighodalo

that “as the name implies, SPC is a critical and strategic committee of His Excellency General Mohamed Buba Marwa (Rtd), OFR., Chairman Chief/Executive Officer, NDLEA”. Earlier before the inauguration, the agency said the all-inclusive committee will ensure the involvement of Nigerians in the renewed onslaught against illicit drug use. A statement signed by the Deputy Commander of Narcotics, DCNPSO, Public Affairs, Jonah Achema, noted that the Chairman, Chief Executive Officer of the agency, Brig. General Mohamed Buba Marwa (Rtd), disclosed this when a delegation of the Nigeria Chapter of International Society of Substance Professionals, ISSUP, paid him a courtesy visit at his office in Abuja. According to Gen. Marwa, everybody has a stake in ensuring a drug free Nigeria and should

be given a platform to contribute. He said the Committee to be known as “NDLEA Chairman’s Special Purpose Committee” is a whole-society strategy to form a coalition of stakeholders against the drug menace and will be made up of wide-ranging strata of society. The NDLEA Chairman, stated that controlling substance use in Nigeria is a task that must be done stressing that the drug demand reduction department will be reorganised and streamlined under his leadership and would pay greater attention to drug prevention. He posited that prevention will be central to his administration’s drug control efforts since they have the responsibility to prevent more than one hundred and eighty million Nigerians that are yet to get involved in drugs.

T H I S D AY ˾ ͯͮ˜ ͰͮͰͯ

CRIME&SECURITY

Despite Incarceration, Genesis Global Prophet Secures Release of 82 Inmates r...Partners foundation to provide succor for the unjustly incarcerated Chiamaka Ozulumba

espite being behind bars after he was convicted and sentenced to a two-year jail time four months ago, Prophet Israel Ogundipe of Celestial Church of Christ (CCC), Genesis Global Parish, has assisted 82 persons incarcerated unjustly regain freedom. His philanthropic gesture was made public during the church's partnership with Monday Ubani Foundation aimed at releasing more people abandoned in correctional facilities across the country without trial nor evidence of the crime they allegedly committed. This was corroborated by the church's Public Relations Officer (PRO), Gbolanhan Ashorobi, during an event to announce a partnership with the Monday Ubani Foundation. Ogundipe was jailed by an Ikeja High Court nine years after the case of fraud and obtaining money under false pretences was levelled against him by a United Kingdom (UK) based Nigerian woman, Olaide Williams-Oni. He was charged with seven counts of obtaining by stealing, including delivery of money by false pretence, unlawful conversion of property and forgery but five of the counts were quashed by the court for want of evidence, while he was found guilty of two counts by Justice Olabisi Akinlade. Despite his incarceration at Kirikiri Correctional Center, the prophet is determined to see it as an act of God and has since been winning souls for Christ through ministrations, assisting in paying legal fees for awaiting trail inmates who could not afford it and getting lawyers to pursue the unlawful incarceration and abandonment of others at the facility. It was this philanthropic gestures that drew the attention of the former second Vice President of the Nigerian Bar Association (NBA), Monday Ubani, who said his firm and foundation would join hands with the prophet to ensure more people being held unjustly are freed. Ubani said he particularly picked interest in the prophet because of testimonies of how he donates toiletries and food to inmates, which are true examples of Christianity represented by love for God and humanity. "Of utmost excitement to me personally and our law firm is the issue of facilitating the release of some of the inmates that have been in detention awaiting trials for good number of years. For instance, the case of one Azeez Ibrahim, who regained his freedom recently at the instance of the prophet. "The man narrated how he wrongly served 10 years and six months at Kirikiri Correctional Centre for wrong identification. He regained freedom as a result of the intervention of the man of God. "The number we gathered who have regained freedom so far through the effort of the prophet and his church has risen to about 82 inmates."

Prophet Ogundipe

Despite feeling that he was a victim of miscarriage of justice, Ubani said Ogundipe later realised that, just as many great prophets and famous world leaders who were once jailed for various offences in the past, he, (Ogundipe) was not exempted from prosecution, adding "who knows whether he has been sent to prison on a divine account and for a divine purpose? "Which is why we applaud his zeal in getting those who are wrongly incarcerated justice through getting them out of the correctional centre using the judicial process. "He is spending much of his time interceding with various inmates, and teaching them the word of God, listening to their various stories and the ordeals that landed them in a federal correction facility and counseling them in preparation to life outside prison. "It is becoming clearer to the prophet the salient reason the Almighty God ordained his journey to the correctional facility. "Upon being emotionally touched by the stories and the various ordeals of these inmates, the prophet, according to him, started to care for the families of these inmates, by paying for their children’s school fees, providing them with feeding allowances, paying legal fees for those awaiting trials etc. an act of philanthropy that Prophet Israel Oladele Ogundipe was famously known for before his unfortunate incarceration. "This led him to reach out through his aides and representatives to the law firm of Ubani and Co. expressing his desire to team up with our law firm in order to give comprehensive legal

representations to various inmates whose stories and ordeals are quite compelling both at the trial and at the Appellant Courts. "We got interested in knowing this great apostle of God and we are interested in partnering him to secure the lives of those that are being wasted in prison by our imperfect administration of criminal justice system. "We have expressed willingness to partner him upon conclusion of terms and we are throwing these open to meaningful Nigerians, individuals, or organisations to come on board this noble cause of helping in getting justice to those who are languishing in various correctional centres across the country. We must endeavor to rescue our fellow brothers and sisters that are victims of our faulty system. "Please note that this is in furtherance to Prophet Israel Oladele Ogundipe’s intention of establishing his prison foundation, which is to be called Israel Oladele Prison Foundation which in part will be working in collaboration with Onyekachi Ubani's Foundation to assist the less privileged who are denied justice through our skewed administration of criminal justice system. "These two foundations with their mission and core value will focus on addressing social vices, counseling, youth empowerment and rendering of legal representation to indigents in need of legal services, especially those at the correctional xentres across the country awaiting trials that are never held," he said. The famous lawyer described as sad, events that led to Ogundipe's conviction

and sentencing, adding that he was glad the judgement of the trial court was being appealed by a very senior and competent lawyer based in Lagos. "It is our conviction that justice shall be served at the Appellate jurisdiction. There are clearly yawning gaps in the entire story leading to his trial and conviction. We are worried that the exonerating report of the Alagbon Police Authority that was the last to investigate the whole incidence was never taken into consideration at the trial court. "As said earlier, these and many more shall be strengthened in due course. We shall refrain from going into the facts of the case as the matter is presently subjudice. We promise to examine the legality of the trial and conviction whenever the appellate options are exhausted. "Concerning his conviction and sentence, Prophet Israel Oladele Ogundipe strongly disagrees and has appealed against his conviction-challenging the conclusion and position of the trial court, and he is bewildered on how a matter which was earlier reported to the police for threat to life, metamorphosed all of a sudden into a case of stealing and obtaining money by false pretenses leading to his conviction and sentencing, a fundamental issue he has raised in his appeal. "However, out of respect for the judicial process, and due to the fact that, his appeal is still pending before the honorable Court of Appeal, we will for now, leave details of his ordeal, trial and conviction until a future time when his appeal must have been determined whether in his favor or otherwise."

Police Investigate Death of Lovers in Delta Sylvester Idowu in Warri

elta State Police Command has launched investigation into the circumstances surrounding the death of a 33 years old man and his 25 years old girlfriend in their one room apartment at Uvwie in Uvwie Local Government area of Delta State. The bodies of the lovers, identified as Emmanuel Oshiotu (m) and Amaka Okafor (f) were found dead in their

apartment located at 2 Ojigbo Crescent, Off Sapele-Effurun road. Though nobody could specifically confirm the cause of their death which occurred last Thursday morning, it was however learnt that insecticide and a knife were found besides their bodies, with neighbours and police suspecting suicide. The suspected suicide, it was gathered, was reinforced by Emmanuel's post on his Facebook on Wednesday depicting

someone facing frustration. A neighbour of the deceased told journalists that, at about 5 a.m. they heard Emmanuel shouting for help and that on breaking the door found him vomiting white foam while his lover's lifeless body laid a few distance from him. He said the bodies were rushed to Central Hospital, Warri where they were both confirmed dead and their bodies deposited in the morgue.

It was learnt that on closer scrutiny of the room, the insecticide and knife were found, giving suspicion of suicide. THISDAY saw the Divisional Police Officer, CSP Muktari Bello and his officers inspecting the bodies at the Central Hospital, Warri morgue. Delta State acting Police Public Relations Officer, DSP Edafe Bright confirmed the incident and said investigation has commenced on the mysterious death of the duo.

T H I S D AY ˾ ͯͮ˜ 2021

BUSINESS/MONEYGUIDE

Flutterwave Secures $170m Fresh Funding Obinna Chima Flutterwave, one of Africa’s leading payment technology companies has announced that it secured $170 million from a leading group of international investors. It explained that the move was part of a successful Series C round, led by growth-equity firms Avenir Growth Capital and Tiger Global Management LLC, with participation from new and existing investors. The funding came on the backdrop of its $35 million Series B funding raised in January 2020. This round of funding, brings the total investment in Flutterwave to $225 million, making the firm one of the few African fintech companies to have raised significant funds in a period of widespread disruption and economic uncertainty. Flutterwave recorded revenue growth of 226 per cent Compound Annual Growth Rate (CAGR) from 2018 to 2020, which it attributed to a favourable regulatory landscape, enabled by the Central Bank of Nigeria under its Governor, Mr. Godwin Emefiele.

“Our successes would not be possible without our amazing People, who work tirelessly to achieve our goals, the trust and support we have received from our investors, partners and customers as well as regulatory bodies like the Central Bank of Nigeria which under the leadership of Governor Godwin Emefiele has created enabling environment for technology, innovation and financial inclusion,” the Founder and CEO of Flutterwave, Olugbenga Agboola, said. Further commenting on the fundraise, Agboola said: “Flutterwave will utilise the funding to continue its drive of empowering small businesses, which are the bedrock of the Nigerian economy, while facilitating smooth digital transformation for both governmental and non-governmental organisations.” This, he said would also help Flutterwave execute an audacious growth strategy to become a leading global payments company connecting the highly fragmented African digital payments landscape. “As we look to the future, our focus remains the same,

to support our over 290,000 merchants across Africa every day as they strive to build their businesses and grow the economy. We look forward to increasing our investments across the continent, deepening the impact our platform has on lives and livelihoods as we take more businesses in Africa to the World, and at the same time continue to bring more of the World to Africa,” he added. There are clear indications that Flutterwave will invest the new capital to accelerate customer acquisition in existing and international markets, as well as develop complementary and innovative products such as the newly launched Flutterwave Mobile, an app to help accelerate ecommerce growth as a result of the success of the Flutterwave Stores. The company will also continue collaboration with the public sector in facilitating online payments for crucial projects and programs such as the Abuja-Kaduna online railway booking system, Covid test online booking system, Nigeria immigration services online payment portal, among others.

‘Nigeria’s Reporting Standard Will Be Globally Accepted with Audit Regulations 2020’ Nume Ekeghe The Acting Executive Secretary and Chief Executive, Financial Reporting Council of Nigeria (FRCN), Mr. Iheanyi Anyahara has reiterated that the new Audit Regulations 2020 will put Nigeria on the global map in terms of reporting standards. He emphasised that it would mean the country’s reporting standards would be acceptable globally. Anyahara said this Monday at a stakeholders’ engagement with representatives of shareholders association where they deliberated on the implementation of the audit regulation. Speaking on the sidelines, he said: “The Audit Regulations 2020 Act was signed by the Minister for Trade and Investment, Mr. Niyi Adebayo and it is geared towards eliciting stakeholders’ buy-in into the regulation so that financial reporting in Nigeria would be credible and would be at the level acceptable globally.” To this effect, Anyahara said the council is currently discussing with development partners. Additionally, he said the Council has received positive as-

surances from some international and local to deploy resources to assist in the area of capacity building. He added: “With pandemic, this regulation providing increased transparency for investors and other stakeholders, are expected to be in high demand. “However, assurance by independent qualified professionals to enhance the credibility of corporate reporting will need to be pursued with vigour by all affected professionals. “Our engagement with members of shareholders association is strategic as we decided to use today’s exercise, to personally and specially request that your associations devote considerable time to consider the audit regulation for a meaningful and quality contribution towards effective implementation of the audit regulation,” he said Highlighting some objectives of the regulation, he said: “It would provide legal and regulatory framework for minimum practice guideline for auditors in Nigeria and to give effect to the provisions of the Act. “To ensure that all activities of Registered Auditors and other

professionals in the financial reporting process are regulated with a view to sustaining best ethical practices capable of promoting quality audit services. “To regulate and ensure that all registered auditors carry out their professional duties in a manner to earn the trust of clients and promote the image of the profession and the country. “To ensure that Recognised Supervisory Bodies (RSBs) comply with these regulations through a well-defined delegated arrangement; prescribes penalties for non-compliance with these Regulations.” Furthermore, he said: “One of the critical concerns on the implementation of the Audit Regulations is the capacity. We are currently discussing with development partners in this regard. I am pleased to inform you that the Council has received positive assurances from some bodies internationally and locally to deploy resources to assist and such will be extended to your association. “This is an area your associations need to partner with the Council to build the required capacity.”

GTBank Provides Free Health Insurance to 1,000 Women Num Ekeghe Guaranty Trust Bank plc (GTBank) in celebration of the International Women’s Day (IWD21) has stated that it is providing 1000 self-employed women with BetaHealth for a year, at no cost. The bank has therefore called on people and organisations to #choosetochallenge for a better world for women. The initiative tagged #GiveHerBetaHealth, was launched to draw attention to the need for universal essential healthcare coverage, especially for women in the informal sector. Launched in 2020, BetaHealth is a low-cost healthcare package that

provides coverage for essential health services such as malaria treatments, pre and postnatal care, accidents and medical emergencies as well as life insurance, all at a subscription fee of N500 per month. Offered through more than 1000 hospitals and pharmacies nationwide, BetaHealth also provides a telemedicine service that allows the user to speak with a Doctor over the phone anytime, anywhere. With the #GiveHerBetaHealth campaign, the bank is calling on the general public to nominate 1000 women who will be given free BetaHealth coverage for a

year. #GiveHerBetaHealth is the latest in a long line of GTBank initiatives that, “reflects the bank’s commitment to extending access to critical services for everyone, irrespective of their social or economic background. “The campaign focuses on empowering self-employed women in the informal sector, many of who have limited or no access to financial services and health insurance. “With this campaign, the bank is putting a spotlight on the need for universal access to essential healthcare services that is affordable for every working Nigerian, and accessible across the country,” it added.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY, 8 MARCH 2021

The price of OPEC basket of thirteen crudes stood at $68.17 a barrel on Monday, compared with $67.03 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY ˾ ͯͮ˜ ͰͮͰͯ

UBA Drives Transactions as Volume and Value of Trading Rise Goddy Egene The volume and value of trading at stock market rose significantly yesterday as investors traded 489.98 million shares worth N6.65 billion in 4,616 deals, showing an increase of 64.8 per cent and 110.8 per cent respectively to compared to 297.27 million shares valued at N3.15 billion exchanged in4,655 deals the previous day. In spite of the improved market turnover, the Nigerian

Stock Exchange (NSE) All-Share Index (ASI) fell by 1.8 per cent to 38,686.85, while market capitalisation shed N371.3 billion to clowe at N20.2 trillion. The decline was as a result of sell pressure on shares of MTN Nigeria Plc Zenith Bank Plc and Lafarge Africa Plc. However, United Bank for Africa Plc, which recorded the highest volume of trading, also led the price losers’ chart declining by 10 per cent from N8.00 to N7.20 per share. Market analysts

P R I C E S MAIN BOARD

F O R DEALS

said some investors, who are not satisfied with the final dividend of 35 kobo declared by the bank on Monday were exiting. A total of 123.3 million shares of UBA worth N887 million were traded yesterday. In spite recording an increases in top and bottom-lines for the year ended December 31, 2020, UBA recommended a final dividend of 35 kobo, down from 80 kobo in 2019. The bank’s gross earnings

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

grew by 10.8 per cent to N620.4 billion, compared to N559.8 billion recorded in 2019. Its profit before tax(PBT) rose by 18.4 per cent to N131.9 billion, from N111.3 billion in 2019, while PAT grew faster by 27.7 per cent to N113.8 billion compared to N89.1 billion recorded in 2019. The Group Managing Director/CEO, Kennedy Uzoka, had noted that the year 2020 was important for UBA Group, as it gained further market

T R A D E D MAIN BOARD

A S

share in most of its countries of operation. “We ended a very challenging year on a reassuring note. The bank recorded doubledigit growth in both our top and bottom lines, as gross earnings and after-tax profit grew by 10.8 per cent and 27.7 per cent to N620.4billion and N113.8 billon respectively. Return on equity was 17.2 per cent, even as our costto-income ratio moderated to

O F

61.3 per cent. Our earnings per share of N3.20 is a 26.8 per cent growth from the preceding year, as we continue to ensure maximum value creation for our highly esteemed shareholders,” Uzoka said. Market analysts said dividend investors are not satisfied that despite higher EPS, the board recommended a lower final dividend, hence the decision for them to sell their shares, which led to the decline in share price.

0 9 / 0 3 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, MARCH 10, 2021

Wednesday, March 10, 2021 Thisday Afrinvest 40 Index Declined 1.9% dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ϭϴϱďƉƐ ƚŽ ƐĞƩůĞ Ăƚ

THISDAY AFRINVEST 40 INDEX

1,739.42 points. This was on the back of price declines in GUARANTY (-0.2%), ZENITH (-2.0%) and MTNN (-5.9%).

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϵ͘ϲй ŽĨ ƚŚĞ ŝŶͲ dex.

THISDAY AFRINVEST 40

1,739.42

-1.85%

18.5%

73.9%

17.9%

3.5%

930.00

0.0%

34.7%

9.2%

7.9%

2.8%

74.75

0.0%

11.0%

-3.4%

19.1%

11.2%

35.9x

6.8x

2.5%

2.8%

31.00

-0.2%

9.0%

-4.2%

27.9%

4.7%

4.5x

1.2x

9.0%

22.2% 33.7%

ƋƵŝƟĞƐ DĂƌŬĞƚ ZĞǀĞƌƐĞƐ 'ĂŝŶ͘͘͘ ^/ ĚŽǁŶ ϭ͘ϴй Yesterday, the local bourse reversed the previous trading

3 Guaranty Trust Bank PLC 4 Zenith Bank PLC

ϯϴ͕ϲϴϲ͘ϴϱ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůů-ŽīƐ ŝŶ MTNN (-5.9%), ZENITH (-12.7%) and WAPCO (-8.0%). As a result, YTD loss worsened to -ϯ͘ϵй ĂŶĚ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞͲ clined by ଂ371.3bn to ଂϮϬ͘ϮƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ŝŵͲ

5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC 8 Lafarge Africa PLC 9 Access Bank PLC

21.75

-2.0%

6.0%

-12.3%

22.4%

3.1%

3.0x

0.6x

13.6%

220.00

0.0%

5.5%

-10.2%

30.8%

14.6%

14.7x

4.6x

7.3%

6.8%

160.00

-5.9%

4.6%

-5.8%

189.4%

11.9%

16.0x

27.7x

5.9%

6.3%

1,350.00

0.0%

3.6%

-10.3%

104.8%

17.8%

27.3x

36.5x

5.2%

3.7%

22.00

-7.9%

3.5%

4.5%

6.5%

4.6%

15.3x

1.0x

4.5%

6.5%

-8.3%

16.8%

1.5%

2.5x

0.4x

8.4%

39.8%

-16.8%

13.9%

1.3%

2.3x

0.4x

7.2%

44.4%

7.25

-0.7%

2.5%

1.4%

11.2%

1.1%

4.0x

0.3x

5.3%

24.7%

12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC

49.50

0.0%

1.8%

-11.6%

4.5%

1.8%

53.6x

2.5x

1.9%

40.00

0.0%

1.8%

-9.2%

24.3%

3.7%

5.3x

1.2x

5.9%

18.8%

5.00

-8.3%

1.3%

-16.0%

-26.3%

-6.2%

27.00

0.0%

1.1%

3.8%

23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

26 Presco PLC 27 Unilever Nigeria PLC

Performance across sectors was bearish ĂƐ ϱ ŽĨ ƚŚĞ ϲ ŝŶͲ

28 PZ Cussons Nigeria PLC 29 United Capital PLC

ĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ͘ dŚĞ ŽŶƐƵŵͲ

30 Guinness Nigeria PLC 31 Custodian and Allied Insurance

er Goods index emerged as the lone gainer, up 0.4% due

32 AIICO Insurance PLC 33 Total Nigeria PLC 34 Julius Berger Nigeria PLC 35 Wema Bank PLC

38 Notore Chemical Industries Ltd 39 Beta Glass PLC 40 Transcorp Hotels Plc

16.4%

7.6%

12.4x

1.9x

93.00

0.0%

0.8%

2.2%

24.6%

16.0%

11.3x

2.6x

2.18

0.9%

0.6%

-13.5%

10.5%

1.1%

2.4x

0.2x

5.00

0.0%

0.6%

-16.7%

0.6%

0.0%

37.1x

0.2x

18.25

8.0%

0.6%

3.7%

25.5%

12.6%

7.5x

1.8x

8.5%

13.4%

2.91

0.0%

0.5%

-12.6%

10.3%

1.2%

2.8x

0.1x

4.8%

36.1%

1.45

-8.8%

0.3%

-28.9%

9.2%

0.9%

3.6x

0.3x

2.1%

27.9%

14.00

7.7%

0.4%

-3.4%

18.4%

5.8%

8.1x

3.0x

2.9%

12.3%

0.87

2.4%

0.3%

-3.3%

-3.5%

-0.8%

0.5x

1.1%

-6.7%

69.00

0.0%

0.3%

-2.7%

18.5%

7.7%

2.2x

2.9%

10.2%

13.25

0.0%

0.2%

-4.7%

-2.4%

-1.6%

1.2x

5.20

0.0%

0.2%

-1.9%

-12.2%

-5.6%

0.6x

1.9%

-169.9%

1.2x

14.0%

9.8x

5.00

4.2%

0.2%

6.2%

35.5%

4.2%

23.00

0.0%

0.2%

21.1%

-17.8%

-9.0%

6.00

0.0%

0.2%

2.6%

13.9%

4.8%

3.0x

0.8x

1.20

0.0%

0.2%

6.2%

21.4%

3.3%

2.7x

0.5x

142.00

0.0%

0.2%

9.2%

17.70

-5.9%

0.1%

-0.6%

3.2%

0.4%

20.7x

-11.6%

6.8%

0.5%

3.0x

2.90

1.7%

0.1%

0.0%

0.1%

-100.0% -21.6%

3.8x

8.9%

2.7%

-2.1%

0.7x 9.1%

14.5%

2.6%

62.50

0.0%

0.1%

0.0%

-29.7%

-8.5%

54.00

0.0%

0.1%

-2.5%

9.4%

6.4%

3.25

0.0%

-9.7%

33.2% 37.1%

5.1%

4.7%

0.6x

9.4%

4.8%

0.4x

6.6%

33.8%

6.0x

-21.6%

26.2% -28.2%

21.5x

4.9%

1.2x

0.2x

8.0x

0.7x

16.7% 80.1%

1.8x

-18.4% 3.2%

12.5% -28.4%

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

T o p 10 G a i n e r s P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

C H A M P ION

2.02

9.8%

UB A

123.3

-10.0%

N EIM ET H

1.92

9.7%

M B EN EF IT

58.0

5.4%

C UT IX

1.97

8.8%

FB NH

48.9

-0.7%

D A N GSUGA R

18.25

8.0%

A C C ESS

42.7

-3.1%

N A SC ON

14.00

7.7%

Z EN IT H B A N K

35.8

-2.0%

A B CTRA NS

0.30

7.1%

M A N SA R D

26.3

0.0%

15.2

-5.9%

11.1

-0.2%

T ic k er

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĂŶĞƐ

GUA R A N T Y

SOVR EN IN S

0.27

3.8%

T R A N SC OR P

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

F ID SON

4.80

3.2%

LA SA C O

T ic k er ET ER N A

P ric e 5.13

10.4

2.4%

9.1

-3.8%

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

T o p 10 L o s e r s

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϲǆ ĨƌŽŵ ƚŚĞ

P ric e C hg %

T ic k er

Value

-10.0%

M TNN

2428.9

P ric e C hg % -5.9%

UB A

887.6

-10.0%

UB A

7.20

-10.0%

C A VER T ON

1.80

-9.5%

Z EN IT H B A N K

776.4

-2.0%

NNFM

5.70

-9.5%

FB NH

352.1

-0.7%

VA N LEER

6.70

-9.5%

GUA R A N T Y

342.7

-0.2%

UP D C R EIT

5.10

-8.9%

A C C ESS

324.2

-3.1%

M EYER

0.41

-8.9%

SEP LA T

154.4

0.0%

95.3

0.0%

ST ER LN B A N K

1.45

-8.8%

D A N GC EM

IN T B R EW

5.00

-8.3%

WA P C O

67.6

-7.9%

D A N GSUGA R

56.3

8.0%

WA P C O

Afrinvest West Africa Limited

42.1%

0.0%

5.4%

mains weak.

9.2%

34.2%

0.0%

4.2%

ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ŐŝǀĞŶ ƚŚĂƚ ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ƌĞͲ

8.1%

34.2%

0.39

ůŽƐĞƌƐ͘ tĞ ĞǆƉĞĐƚ ĐŽŶƟŶƵĞĚ ƐĞůů ƉƌĞƐƐƵƌĞƐ ŝŶ ƚŚĞ ŶĞǆƚ

-15.8%

1.4% 0.8%

5.00

ETERNA (-10.0%) and CAVERTON (-9.5%) were the top

7.3% 4.0%

0.0%

UC A P

CUTIX (+8.8%) were the top gainers while UBA (-10.0%),

5.2%

0.0%

M B EN EF IT

25 decliners. CHAMPION (+9.8%), NEIMETH (+9.7%) and

-34.7%

0.7x

539.90

M TNN

1.7x recorded previously as 14 stocks advanced against

0.9x

228.00

0.61

36 Union Bank of Nigeria PLC 37 Oando PLC

'ŽŽĚƐ ŝŶĚŝĐĞƐ ĨĞůů Ϭ͘ϲй ĂŶĚ Ϭ͘ϱй ƌĞƐƉĞĐƟǀĞůǇ ĨŽůůŽǁŝŶŐ

0.2%.

8.4%

-8.3%

ITH (ଂϳϳϲ͘ϰŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘

JAPAULGO (-2.0%) dragged the Oil & Gas index lower by

1.3%

-16.8%

while MTNN (ଂ2.4bn), UBA (ଂϴϴϳ͘ϲŵͿ ĂŶĚ ZEN-

WAPCO (-8.0%). Price declines in ETERNA (-10.0%) and

5.8%

2.3%

21 Dangote Sugar Refinery PLC 22 FCMB Group Plc

sell pressures in WAPIC (-5.9%), WZ ^d/' (-ϲ͘ϳйͿ and

0.5x ot Applicable

2.6%

units), MBENEFIT (58.0m units) and FBNH (48.9m units)

and MTNN (-5.9%). Similarly, the Insurance and Industrial

4.8x

Divindend Earnings Yield Yield

-3.1%

19 Fidelity Bank PLC 20 Ecobank Transnational Inc

ƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůů-ŽīƐ ŝŶ ZENITH (-12.7%), UBA (-10.0%)

P/BV

-10.0%

most traded stocks by volume were UBA (123.3m

Banking and AFR-/ d ŝŶĚŝĐĞƐ ůŽƐƚ ϱ͘ϯй ĂŶĚ Ϯ͘ϵй ƌĞƐƉĞĐͲ

P/E

7.20

17 11 PLC 18 Okomu Oil Palm PLC

CON (+7.7%) and CHAMPION (+9.8%). Conversely, the

ROA

7.75

ϭϭϬ͘ϴй ƌĞƐƉĞĐƟǀĞůǇ ƚŽ ϰϵϬ͘Ϭŵ units and ଂϲ͘ϳďŶ͘ dŚĞ

ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ E'^h' Z (+8.0%), E ^Ͳ

ROE

10 United Bank for Africa PLC 11 FBN Holdings Plc

14 International Brew eries PLC 15 Flour Mills of Nigeria PLC 16 SEPLAT Petroleum Development C

proved as volume and value advanced ďǇ ϲϰ͘ϴй ĂŶĚ

Price Change Index to Date

Ticker

1 Airtel Africa PLC 2 BUA Cement Plc

session gain as the benchmark index fell 180bps to

Price Previous Current Change Price YTD Weighting Change

Current Price

Brokerage

22.00

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com Taiwo Ogundipe | togundi-

Christopher Omoh | comoh@afrinvest.com

WEDNESDAY, MARCH 10, 2021 ˾ T H I S D AY

MARKET NEWS

Consolidated Hallmark Insurance Projects N577m for Q2 of 2021 Goddy Egene

Insurance (CHI) Plc has projected gross premium written of N6.6 billion and

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

net premium of N4.1 billion for the second quarter ending June 30, 2021. In a notification

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 05Mar-2021, unless otherwise stated.

to the Nigerian Stock Exchange (NSE), the insurance firm, said it would end the quarter with

net operating income of N2.936 billion. According to CHI Plc, profit before tax would be

N577 million, while profit after tax would print at N485 million.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 155.38 156.93 -3.95% Afrinvest Plutus Fund 100.00 100.00 3.60% Nigeria International Debt Fund 351.54 351.54 -11.68% Afrinvest Dollar Fund 108.82 108.82 -2.88% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 1.03 1.05 14.93% ACAP Income Funds 0.65 0.65 -11.07% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 2.01% AIICO Balanced Fund 3.33 3.49 -6.24% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 18.19 18.74 0.28% ARM Discovery Balanced Fund 403.85 416.03 0.87% ARM Ethical Fund 34.98 36.03 3.76% ARM Eurobond Fund ($) 1.20 1.21 -1.43% ARM Fixed Income Fund 1.04 1.04 -7.34% ARM Money Market Fund 1.00 1.00 1.25% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 102.97 102.97 1.24% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.04 2.04 -28.92% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.14 2.18 -23.12% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 1.94% Cordros Milestone Fund 2023 128.30 129.22 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 110.26 110.26 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 1.00% Coronation Balanced Fund 1.16 1.17 -3.15% Coronation Fixed Income Fund 1.44 1.44 -8.80% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,347.68 1,347.68 5.73% FBN Balanced Fund 182.62 183.92 -2.70% FBN Halal Fund 110.14 110.14 4.56% FBN Money Market Fund 100.00 100.00 0.00% FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail 123.84 123.84 3.00% FBN Smart Beta Equity Fund 148.15 150.08 -2.00% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,771.99 3,821.90 0.44% Coral Income Fund 3,332.18 3,332.18 2.02% FSDH Treasury Bills Fund 100.00 100.00 1.60%

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 1.40% Vantage Balanced Fund 2.67 2.73 16.52% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 155.93 156.37 0.33% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 4.88% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.37 1.39 0.00% Lotus Halal Fixed Income Fund 1,139.74 1,139.74 1.46% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.58 1.61 7.53% PACAM Fixed Income Fund 12.23 12.35 -0.04% PACAM Money Market Fund 10.00 10.00 1.50% PACAM Equity Fund 1.56 1.57 -1.52% PACAM EuroBond Fund 109.45 112.14 0.04% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 126.12 128.28 5.44% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 1.13% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,109.02 3,135.01 -3.31% Stanbic IBTC Bond Fund 226.85 226.85 0.89% Stanbic IBTC Ethical Fund 1.14 1.15 -2.97% Stanbic IBTC Guaranteed Investment Fund 297.19 297.20 0.86% Stanbic IBTC Iman Fund 209.49 212.09 -4.13% Stanbic IBTC Money Market Fund 100.00 100.00 1.84% Stanbic IBTC Nigerian Equity Fund 9,751.97 9,877.73 -7.13% Stanbic IBTC Dollar Fund (USD) 1.24 1.24 1.08% Stanbic IBTC Shariah Fixed Income Fund 111.83 111.83 0.68% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.33 1.35 -2.52% United Capital Bond Fund 1.91 1.91 1.05% United Capital Equity Fund 0.89 0.91 2.48% United Capital Money Market Fund 1.00 1.00 2.91% United Capital Eurobond Fund 118.41 118.41 1.13% United Capital Wealth for Women Fund 1.07 1.09 -0.92% United capital Sukuk Fund 1.02 1.02 2.27% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.09 12.20 1.90% Zenith Ethical Fund 13.39 13.50 9.61% Zenith Income Fund 24.20 24.20 0.91% Zenith Money Market Fund 1.00 1.00 1.87%

REITS NAV Per Share

Yield / T-Rtn

121.58 52.64

0.70% 0.46%

Bid Price

Offer Price

Yield / T-Rtn

12.55 117.06 93.70

12.65 117.06 95.47

-5.02% -3.84% -5.70%

Fund Name SFS Skye Shelter Fund Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.87 5.24 16.94 1.00 19.24 175.64

3.91 5.32 17.04 1.00 19.44 177.64

2.34% -7.86% 3.64% 0.33% -6.23% -20.40%

NAV Per Share

Yield / T-Rtn

108.05

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY MARCH 10, 2021 ˾ T H I S D AY

NEWSXTRA

Court Declines to Unfreeze Shell’s Bank Accounts Davidson Iriekpen A Federal High Court in Lagos yesterday declined to vacate its interim Mareva injunction directing 20 banks to block Shell Petroleum Development Company of Nigeria

(SPDC) and its subsidiaries’ bank accounts. Justice Oluremi Oguntoyinbo, who made the ruling, also summoned three of the banks’ secretaries and chief financial officers for allegedly disobeying the

Kano Receives 209,520 Doses of COVID-19Vaccine Ibrahim Shuaibu in Kano The Kano State Government last night received 209,520 doses of COVID-19 vaccines. Receiving the vaccines that arrived through a cargo plane, Allied Air E-Cargo 5N-TON at Mallam Aminu Kano International Airport, the state Commissioner for Health, Dr. Aminu Ibrahim Tsanyawa said the first phase will focus on frontline health workers. Tsanyawa, who represented Governor Abdullahi Umar Ganduje said the governor has accepted the vaccine and will

soon receive his jab. According to him, they will also focus on people with underlying health issues and the fourth phase will focus on other target populations. The commissioner pointed out that the state action committee on COVID-19 would meet to determine the modalities and when the vaccination would begin. According to him, Ganduje has already started meeting with all stakeholders across the state to ensure that residents are well-sensitised on the need to accept the vaccine.

order made on January 25, 2021. The affected banks and their officials are: Citi Bank Ltd, its Company Secretary Sola Fagbure and Chief Financial Officer, Sharaf Mohammed; First Bank of Nigeria Ltd, its Company Secretary Irene Netimah and Chief Financial Officer, Patrick Iyamabo; United Bank For Africa (UBA) Plc, its Company Secretary Bill Andrew Odum and Chief Financial Officer, Ebenezer Kolawole. The court ordered the alleged contemnors to appear before it on the next adjourned date of March 29, 2021.

Justice Oguntoyinbo warned that their failure to appear would result in a warrant of arrest being issued against them. The judge made the order in a ruling on three applications in a suit marked FHC/L/CS/52/2021, filed by Aiteo Eastern E&P Company Ltd against SPDC and four others. Aiteo is claiming about $2.7 billion against SPDC over alleged problems with the Nembe Creek Trunk Line (NCTL) pipeline it bought from the Anglo-Dutch group in 2015 and over claims that Shell undercounted its oil

exports. Joined with SPDC as respondents in the suit are Royal Dutch Shell Plc; Shell Western Supply and Trading Ltd; Shell International Trading and Shipping Company Ltd; and Shell Nigeria Exploration and Production Company Ltd. Justice Oguntoyinbo granted the Mareva injunction on January 25, 2021 directing 20 commercial banks to block SPDC and its subsidiaries’ accounts and barring Royal Dutch Shell’s Nigerian subsidiaries from withdrawing money at 20 banks until it “ringfences” potential

damages in a lawsuit brought against the firm by Aiteo. Seventeen of the banks are said to have complied with the order. The order was sequel to AITEO’s bid to recover from Shell, the cash equivalent of more than 16 million barrels of crude oil allegedly diverted by the oil giant. At the last hearing on March 9, the court faced three applications by the Plaintiff AITEO and the Defendants SPDC and Others relating to its jurisdiction, motion to discharge its ex-parte order and committal proceedings against the three banks.

CACOVID Donates 260 Cylinders, Incinerator to Lagos Sunday Ehigiator In an effort to further help in the fight against the COVID-19 pandemic, and protect people of Lagos State from bio-threats, the Coalition Against COVID-19 (CACOVID) has donated not less than 260 oxygen cylinders of various sizes, and an incinerator to the state government. At the official handing over held yesterday at the Infectious Disease Hospital (IDH) YABA, Executive Member of the CACOVID and, CEO/MDAliko Dangote Foundation, Ms. Zouera Youssoufou, revealed that the incinerator has six cubic meters capacity. “It can burn up to 100kg per hour, at a temperature of 1,500 degrees. This is a bigger facility and can handle the waste of a facility as big as the IDH. “This is something that we are going to be using not just here at IDH but also whenever COVID-19 is a dead memory, we

can still use this incinerator on other facilities around the state. “Also we have donated 260 oxygen cylinders to the Lagos State government today. They are all here at various sizes. From the smaller sizes that are moveable all the way to the ones used by patients’ bedsides and the bigger ones that are in a more distributed environment. All of them are useful and needed to maintain a patient’s health,” she said. Commenting after taking possession of the donations, the state Commissioner for Health, Prof. Akin Abayomi appreciated CACOVID for all their support towards defeating the pandemic since it broke. “This incinerator is extremely useful, because the waste that comes out of this isolation center is not waste that can be handled normally. It is biosecurity waste. And the best way to deal with biosecurity waste, to reduce its potential risk in the community, is to destroy it onsite.

INEC Fixes Date for Isoko North By-election Chuks Okocha in Abuja The Independent National Electoral Commission (INEC) yesterday fixed April 10, 2021, for the conduct of bye elections in the vacant Isoko North State Constituency Election of Delta state. The INEC National Commissioner in charge of Voter Education and Information, Mr. Festus Okoye, said that the vacancy arose as a result of the death of Hon. Tim Kome Owhefere, member representing Isoko North State Constituency of Delta State in the House of Assembly and the subsequent declaration of vacancy for the state constituency by the Delta State House of Assembly. Okoye said that the commission has fixed Saturday April 10, 2021, for the conduct of the bye-election

to fill the vacant seat for the Isoko North State Constituency of Delta State. He said: “The official notification for the election will be published on Wednesday, March 10, 2021. Political parties shall conduct their primaries between March 11 and 20, 2021 while the last day for submission of list of nominated candidates is at 6p.m. on March 24, 2021.” Okoye said that political parties should submit the names of their polling agents for the election to the electoral officer of the Local Government on or before March 27, 2021 and campaigns by political parties shall stop on April 8, 2021. He further disclosed that the access code for the nomination forms shall be available for collection from March 20, 2021 at the commission’s headquarters.

SUPPORT FROM AREWA…

Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), retired Brig. General Mohammed Buba Marwa (left), receiving a document from the National President of Arewa Youth Forum, Alhaji Gambo Ibrahim Gujungu, when the latter led the national executive members of the body on a courtesy visit to the NDLEA headquarters in Abuja…yesterday

N’Assembly Not Cash-strapped, will Meet Mandatory 181 Sitting Days, Says Spokesman DejiElumoyeandUdoraOrizuin Abuja Chairman of the Senate Committee on Media and Public Affairs, Senator Ajiboka Basiru, yesterday declared that the National Assembly is not cash- strapped. He also gave an assurance that the two chambers of the legislative arm of government will meet the mandatory 181 annual sitting days as prescribed in the 1999 Constitution of the Federal

Republic of Nigeria (as amended). Reacting to a report that the two chambers of the National Assembly may not meet the mandatory constitutional requirement of 181 sittings yearly because of reduction in number of sitting days to once a week, caused by paucity of funds, the spokesman described the report as a figment of the writer’s imagination, concocted to pitch the National Assembly against the executive or the public and portray them as not living up

to expectations. According to him, the National Assembly is not owing its staff salaries, adding that the management is not owing any lawmaker. He stressed that the National Assembly does not rely on the MDAs to fund its activities, as they have budget committees and oversight. He further explained that when there are specific needs in terms of consultancy services or special

travels to do the legislative jobs, the bureaucracy supports such assignment. Basiru said, ‘’The issue of cash crunch hitting the National Assembly is the figment of the imagination of the writers. I don’t see how finance can hinder our sitting. We are not collecting sitting allowance; we only collect salaries at the end of the month. We are in March and all our February salaries have been paid. We are in the 9th of March and we have a 12 month calendar.

Customs Intercepts N79.8m Contrabands in Katsina Francis Sardauna in Katsina The Katsina Area Command of the Nigerian Customs Service (NCS) on Monday announced that it had intercepted various contrabands with a Duty Paid Value (DPV) of N79.8 million from smugglers between February 8 and March 9.

The Customs Area Comptroller, Mr. Adewale Musa Aremu, disclosed this while briefing journalists at the command, where he said that the NCS is ever ready to carry out its statutory functions assigned to it by the federal government. Aremu noted that the command intercepted one DAF tanker with registration

number KWL427TH, loaded with smuggled rice and seized a DAF trailer conveying 367 bales of second hand clothes and one used Honda Accord vehicle in the period under review. Other seizures, according to him, included 470 bags of foreign rice; 166 jerry cans of vegetable oil; 321 cartons of spaghetti; 97 cartons of

couscous; 187 bags of sugar; 110 cartons of macaroni; 65 cartons of milky creamer and 14 cartons of clinical plaster. He, however, lamented that border communities in the state who were supposed to assist law enforcement agencies in carrying out their legitimate obligations, were rather aiding the nefarious activities of the economic saboteurs.

FG Plans Deployment of Nuclear Technology in Agric, Others Emmanuel Addeh in Abuja The federal government said yesterday that it is planning to deploy the huge benefits inherent in nuclear technology in enhancing agricultural production, medicine, and provision of electricity, among others. During a technical meeting and national stakeholders’ workshop on activities of the Nuclear Technology Centre, run by the Nigeria Atomic

Energy Commission (NAEC), the government noted that it would continue to support all peaceful use of nuclear power. Permanent Secretary, Political and Economic Affairs, Office of Secretary to the Government of the Federation, Mr. Andrew Adejo, who declared the event open in Sheda, Abuja, called for the proper advancement of the various works of the centre to enhance the progress of the country.

Adejo stated that the workshop could not have come at a better time, especially as the COVID-19 pandemic continues to affect public health, economy, medicine, and transportation. He added that the knowledge acquired from the stakeholders workshop can be applied to the peaceful application of nuclear science and technology to provide services in various fields. “The NTC was established

to harness the various peaceful application of nuclear science and technology, and to provide services in the field of agriculture, medicine, industry , energy and education,” he said. Acting Chairman of NAEC, Mr. Mukhtar Ali, in his welcome address, noted that the commission was always willing and ready to collaborate with relevant stakeholders to achieve the objectives of the centre.

WEDNESDAY MARCH 10, 2021 ˾ T H I S D AY

24 HOURS...

South-South Govs Demand 10% of Oil Revenue for Host Communities Governors of South-south states have demanded the upward review from 2.5 per cent to 10 per cent of oil revenue payments to host oil communities.

The chairman of the SouthSouth Forum and Governor of Delta State, Senator Ifeanyi Okowa, stated this on Monday night at the end of the SouthSouth Governors’ meeting in

NNPC Has Legal Backing to Deduct Revenue at Source, Kyari Tells House Udora Orizu in Abuja The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, yesterday justified not remitting the entire funds the agency generates to the Federation Account, saying that the corporation is backed by law to make deductions of their running costs from source. Kyari gave the justification when he appeared before the House of Representatives Committee on Public Accounts. The NNPC GMD appeared before the committee to answer questions on their financial operations, following the query from the office of the Auditor General of the Federation over dwindling

government revenue from 2014 till 2020. The NNPC was queried on the deduction of the sum of N865 billion from N2.4 trillion it agency generated in 2015, which the Auditor General, said was in violation of Section 162 of the constitution. The agency was also queried on the non-remittance of N3.8 trillion of domestic crude oil sales; the noncollection of gas receipts for some months in the year; and the issue of refund of N450 billion among others. Addressing the lawmakers, Kyari made reference to the NNPC Act and a judgment of the Supreme Court as where they drew their authority from. He also claimed that the corporation has the approval of the Attorney General of the Federation.

Port Harcourt. Okowa said the 2.5 per cent stipulated in the Petroleum Industry Bill (PIB), now before the National Assembly for the host communities, was inadequate. “We are of the view that while we welcome the Host Community Trust Fund, we

do believe that 2.5 per cent that is appropriated in that bill for the purpose of host community fund is inadequate. “We have discussed with our people and collectively as leaders of the people in our various states and as leaders standing in on behalf of our people, we

urge the National Assembly to increase the provision in the host community fund from 2.5 per cent to 10 per cent. “This is in the best interest of our communities and the nation,’’ Okowa said. Okowa maintained that the host communities would be watchdogs of oil facilities

on behalf of the Federal, State Governments and oil companies. “A peaceful environment in the various oil communities would enable us have greater and seamless production, without any form of disruption going into the future.

WAR AGAINST CYBERCRIMES…

L-R: Chief Executive Officer, DataSixth Cybersecurity Consulting, Mr. Michael Anyanwu; member, Senate Committee on ICT and Cybercrime, Senator Orker Jev; Chairman of the Committee, Senator Yakubu Oseni; member, Senator Ezenwa Onyewuchi; Senior Special Adviser to the President on Social Investment Programmes, SIP, Mr. Ismaeel Ahmed and another member of the Senate committee, Senator Ibrahim Hadejia, during the committee’s tour to the Security Operations Centre (SOC) of DataSixth in Lagos...recently

You Can’t Direct Buhari on NDDC Funds, Akpabio Tells Govs N’Assembly Adjourns Plenary South-south The Minister of Niger Delta during a press briefing ahead governors and declared that they have elected executives. Some Senator Godswill Akpabio, of the inauguration of the had no right to give directives governors for eight years use in Honour of House Member Affairs, caretaker committees to run local has faulted calls by governors headquarters of the NDDC by to the President.

Udora Orizu in Abuja

The Senate and the House of Representatives, yesterday suspended plenary in deference to the death of a member of the House of Representatives, Hon. Yuguda Hassan Kila. The lawmaker, who represented Gwaram Federal Constituency of Jigawa State from 2015 to 2021, was until his death, the Chairman of the House Committee on Customs. President of the Senate, Dr. Ahmad Lawan, while announcing the death of the lawmaker at plenary, expressed shock and sadness, saying Kila will be missed by all his colleagues in

the National Assembly. Thereafter, the Senate observed a minute silence, followed by a motion for adjournment moved by the Senate Leader, Senator Yahaya Abdullahi and seconded by Senate Minority leader, Senator Enyinnaya Abaribe. At the House of Representatives, the Speaker, Hon. Femi Gbajabiamila, who announced the lawmaker’s demise at plenary, expressed sadness over Kila’s death, saying the late lawmaker had been ill and was recovering before his demise. The Speaker commiserated with his family, people of Jigawa state and prayed for the peaceful repose of his soul.

Parliamentary Workers Protest at N’Assembly Members of the Parliamentary Workers Association of Nigeria yesterday protested at the gate of the National Assembly in Abuja. The workers during the protest threatened that if their demands are not met, they will continue the protest and occupy all state assemblies across the federation. President of the Parliamentary Workers Association of Nigeria, Mr. Mohammed Usman, who spoke on behalf of the workers, said the federal lawmakers should take the necessary steps to implement financial autonomy for the judiciary as the welfare of their members is tied under the autonomy. “Enough is enough, when there is no legislation, there is no country. They want to deny the independence of the legislature, we

will not allow that. If they continue to deny us financial autonomy, we will use everything in our arsenal to fight them. “We are after the governors; we are after the implementation committee that the needful must be done. “In the next six days, if the implementation is not done, we will shut down the whole 36 states assemblies including the National Assembly,” Usman told journalists during the protest. The workers also alleged that the Nigeria Governors’ Forum (NGF) is impeding every effort to also implement President Muhammadu Buhari’s Executive Order 10 which was signed last year, to grant autonomy for the judiciary and also improve their welfare.

of the South-south geo-political zone that funds for the running of the Niger Delta Development Commission (NDDC) be kept in an escrow account until the emergence of a board for the commission, insisting that the governors have no powers to direct the president on what to do. Akpabio spoke yesterday in Port Harcourt while fielding questions from journalists

President Muhammadu Buhari virtually tomorrow (Thursday). The six governors of the Southsouth region had condemned the continued running of the interventionist agency without a management board and had advocated that the funds be kept in an escrow account until a board is set up for the commission. But Akpabio faulted the

He said: “I’m not aware that the governors are the ones that give directive to the President. So, if you are saying that the South-south governors just finished their meeting and gave directives to the President not to release funds, I want to let you know that we have pleaded with the governors, even when I was a governor to ensure that local government

government and the federal government has not denied them their funds”. He explained that he was not against the constitution of a board for the NDDC but added that it was being delayed by the ongoing forensic audit of the NDDC which he said had reached an advanced stage and would be concluded in no distant time.

Benin Seeks Nigeria’s Collaboration on Rice Production Deji Elumoye in Abuja Benin Republic has sought the assistance of Nigeria in its bid to grow rice in the country. Already, a delegation from the country had met with top Nigerian government officials on how to go about the mission. A delegation from Benin Republic met with the Chief of Staff (CoS) to the President, Prof. Ibrahim Gambari at the presidential villa, Abuja, yesterday evening, to gain from Nigeria’s

experience in reviving rice production. The Beninoise delegation, which was led by the country’s Minister of Agriculture, Gaston Cossi Dossouhoui, was led to the villa by Governor Atiku Bagudu of Kebbi State and the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed. Addressing newsmen after the closed-door meeting, Bagudu explained that the delegation and Rice Farmers Association of Nigeria met with the CoS to

progress with the ongoing talks between the two countries on how to replicate Nigeria’s rice farming programme in Benin Republic. According to him, the move can lead to the discontinuation of rice import to West Africa. The Kebbi governor said: “Rice Farmers Association of Nigeria met with the chief of staff to the president to progress the discussion which has been going on between them and Benin Republic for the two countries to replicate the success of Nigeria’s

rice farming programme in Benin, so that we can stop rice importation in west Africa in shortest possible time. “This is partnership within the framework of ECOWAS agreement and the Africa Continental Free Trade Agreement and our brotherly relationship between president Muhammadu Buhari and President Patrice Tallon who have the safe vision that we can be greater together.”

Julius Berger Delivers More Completed Projects in Rivers Julius Berger Plc has recorded another feat in Nigera’s engineering construction sector as the company concurrently accomplished a series of major infrastructural development projects well ahead of their scheduled delivery dates for commissioning by the Rivers State Government in Port Harcourt. According to a statement issued by the construction giant, it was a daily festival

of projects commissioning by Governor Ezenwo Nyesom Wike, as well as groundbreaking and flag-off of several new infrastructural development projects in the Rivers State capital. This round of commissioning of successfully executed and completed projects by the Rivers State Government, commenced on Monday, with the inauguration for public use of the Okoro-Nu-Odo Flyover.

The project was built on record time of 14 months ahead of its schedule of 16 months completion date. It was commissioned by the former Governor of Cross River State, Mr. Donald Duke at Okoro-Nu-Odo, Obior Akpor. On the second day of the harvest of projects commissioning, the Rivers State Government, again signed another contract with Julius Berger Plc for

the construction of two more flyovers (flyovers 7 and 8) in Port Harcourt. “Thereafter, the Rumuogba 1 and 2 Flyover constructed and also completed by Julius Berger ahead of schedule was formally inaugurated by the state government for public use. The occasion was witnessed by the former Governor of Kano State, Senator Rabiu Kwankwaso”.

WEDNESDAY MARCH 10, 2021 •T H I S D AY

WEDNESDAY MARCH 10, ͺ͸ͺ͹˾ T H I S D AY

WEDNESDAYSPORTS

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AFCON 2022

Rohr Lists Club-less Musa, Home-based Noble in 24-man Squad for Benin, Lesotho Duro Ikhazuagbe Super Eagles Head Coach, Gernot Rohr, yesterday selected club-less Captain, Ahmed Musa in his 24man squad for the 2022 Africa Cup of Nations qualifiers slated for later this month. Musa has been club-less since he left Saudi Arabian side Al Nassr in October. His attempt to join English Premier League side West Brom last month hit the rock when the club top management failed to endorse the contract after the Nigerian had completed medicals. Surprisingly, the same Rohr who had previously announced that only players actively competing in the top flight would be involved in his squad, appears to have gone against his words. “Musa has been keeping fit and we hope he can find a club soon,”

Rohr had said last month. Interestingly, in apparent reaction to clamour from the local press that players from the domestic league be included in the team, Rohr selected Enyimba goalkeeper, John Noble, in the 24-man squad to take on the Beninoise and Lesotho. Despite threats from English Premier League teams not to release their African players due to the second and third waves of the pandemic, England-based sextet of Ola Aina of Fulham, Leicester City’s Wilfred Ndidi and Kelechi Iheanacho, Alex Iwobi of Everton, West Brom’s Semi Ajayi and Watford’s William Troost-Ekong, were listed in the squad for the qualifiers. There is a maiden call-up for in-form striker Sadiq Umar who plays for Almeria in the Spanish

Diogu: Hard Work Key to Olympics, Afrobasket Successes Following the conclusion of the Afrobasket qualifiers in Monastir, Tunisia, Nigerian basketball legend, Ike Diogu, has admitted that the team has a lot of work to do in their quest to challenge for the Afrobasket and 2020 Olympics titles. Diogu who was a member of the team to the London 2012 Olympics said despite their impeccable 6-0 unbeaten run during the qualifiers, the team is nowhere ready for a busy summer. “The goal is for everybody to go back to their various clubs, stay in shape and meet back in the summer for the 2020 Olympics”. The 37-year-old who made his Afrobasket debut in 2013 where he emerged competition’s highest point scorer in Cote d’Ivoire averaging 21.9pts per game despite D’Tigers finishing 7th after a quarter final loss to Senegal believes the team can challenge for honors in Rwanda (Afrobasket) and Tokyo

(Olympics). “We have a lot of things to fix because there will be some guys that will be added and removed from the roster, so I am looking forward to having a complete team”. After a defeat to host-Tunisia at the finals of the 2017 edition of the Afrobasket, the Chemidor Basketball Club of Iran new signee is desperate to go a step further and win Nigeria’ second ever continental title. When asked about the team’s expectations ahead of the championship to be hosted by Rwanda, Diogu said, “To win just like everybody else, the same thing for us too. We want to try and establish being the best team in Africa just like the rest of the other teams.” With one Afrobasket gold and silver medals, two Olympics appearances and the 2020 edition in view, Diogu has emerged the most successful Nigerian basketball player and future FIBA Africa Hall of Famer.

Golf: Azogu, Lefebure Win Omoluwa, Okpuno Memorial Kitty Olawale Ajimotokanin Abuja Tony Azogu and Simpa Lefebure won the remembrance golf kitty held at IBB International Golf and Country Club, Abuja in commemoration of the first year of the death of Sir Lucky Omoluwa and Chief Uche Luke Okpuno. Omoluwa, the late Chairman of Pinnacle Communication was a former member of the Board of Trustee of IBB Club, while Okpuno, the a past National President of the Golf Union of Nigeria was also at a time the former Captain of IBB Club. Okpuno and Omoluwa, who were regarded for their philanthropy, died barely a week apart. The kitty was put together by a committee of friends led by Sir Chika Chiejina, who is a former captain of IBB Club

from 2009-10. Ten-handicapper, Azogu carded 72 to win the Men Division 1 (flight handicap 0-10) best nett prize, beating E. Edoka on the countback. Muhammed Suleiman, who played off handicap-five, arrived two shots off the pace for first runner net prize. Lefebure posted 77 to claim the ladies Best Nett Prize, barely edging Grace Ihonvbere by two strokes, while six- handicapper, I. Essien shot 83 nett to win the first runner-up net prize. B. Spain edged J. Brinks on the countback (71) to claim the Men Division 2 (Handicap 11-20 flight) best nett prize. E. Anosike finished a stroke outside the lead for the first runner nett prize. The Memorial Golf Kitty prize presentation was graced by Omoluwa’s family led by his widow, Orumenosen.

second-tier, while top scorer in the Belgian league Paul Onuachu (with 25 goals) is on the standby list alongside experienced goalkeeper Daniel Akpeyi. Joe Aribo and Leon Balogun, who have been crowned Scottish champions were also listed. Seven players, including long –time goalkeeper Daniel Akpeyi, are on standby. Rohr, who has steered Nigeria to qualifying for two major tournaments (2018 FIFA World Cup and 2019 Africa Cup of Nations) with a game to spare, countenance even better accomplishment this time, as the Eagles could earn a ticket to the finals in Cameroon before kick-off in Porto Novo, should Lesotho and Sierra Leone end their encounter in Maseru in a stalemate. The result would be known before kick-off in Porto Novo. Nigeria, top of the Group E log with eight points (one ahead of Benin Republic and five more than third-placed Sierra Leone), tackle the Squirrels away at the Stade Charles de Gaulle in Porto Novo on Saturday, 27th March and will lock horns with the Crocodiles of Lesotho at the Teslim Balogun Stadium, Lagos three days later. Both are the concluding games of the qualifying series. THE FULL LIST Goalkeepers: Francis Uzoho (APOEL Nicosia, Cyprus); John Noble (Enyimba FC); Maduka

Okoye (Sparta Rotterdam, The Netherlands) Defenders: Kenneth Omeruo (CD Leganes, Spain); Leon Balogun (Glasgow Rangers, Scotland); Chidozie Awaziem (FC Boavista, Portugal); William Ekong (Watford FC, England); Olaoluwa Aina (Fulham FC, England); Jamilu Collins (SC Padeborn 07, Germany); Zaidu Sanusi (FC Porto, Portugal); Tyronne Ebuehi (FC Twente, The Netherlands)

Midfielders: Oghenekaro Etebo (Galatasaray FC, Turkey); Wilfred Ndidi (Leicester City, England); Abdullahi Shehu (Omonia Nicosa, Cyprus); Joseph Ayodele-Aribo (Glasgow Rangers, Scotland); Oluwasemilogo Ajayi (West Bromwich Albion, England) Forwards: Ahmed Musa (Unattached); Alex Iwobi (Everton FC, England); Sadiq Umar (Almeria FC, Spain); Samuel Chukwueze (Villarreal FC, Spain); Victor Osimhen (Napoli FC, Italy);

Kelechi Iheanacho (Leicester City, England); Samuel Kalu (FC Girondins Bordeaux, France); Moses Simon (FC Nantes, France) Standby: Daniel Akpeyi (Kaizer Chiefs, South Africa); Henry Onyekuru (Galatasaray FC, Turkey); Peter Olayinka (Slavia Praha, Czech Republic); Terem Moffi (FC Lorient, France); Paul Onuachu (KRC Genk, Belgium); Michael Olise (Reading FC, England); Adekunle Adeleke (Abia Warriors)

Super Eagles. Captain, Ahmed Musa (right) who has been club-less since he left Saudi Arabian club Al Nassr last November was listed in Coach Gernot’s squad for the AFCON 2022 qualiﬁers against Benin Republic and Lesotho

Real Madrid Academy ‘Il Engage our Youth, Develop Football, Says Minister It was a galaxy of meeting of stars in Port-Harcourt on Tuesday when Minister of Youth and Sports Development, Mr Sunday Dare, unveiled the Real Madrid Football Academy with an assurance that the institution would not only create jobs, but produce world-class future stars. Speaking at the occasion, Mr Dare said: “From time immemorial, Rivers State had a reputation of producing notable people like the great Jaja of Opobo, Alfred Diette Spiff, Justice Karibe White,

foremost viriologist Professor Tam David West, two Sports Ministers Alabo Graham Douglas and Tammy Danagogo. “In football, Sharks which metamorphosed to Rivers United had produced world acclaimed players. Today’s event is therefore not only epochal, but special and monumental. I’m confident that the Real Madrid Academy Port Harcourt will produce fantastic players like Paul Hamilton, Adokiye Amiesimaka, Jossy Dombraye, Taribo West, Furo Iyenemi and

Nigeria’s most capped player, Joseph Yobo. The foundation for the actualisation of this dream has been laid today,” stressed Dare. The Sports Minister further said: “Although two Nigerians Emmanuel Amuneke and Gbenga Okunowo had played for Real Madrid’s bitter rivals Barcelona, no Nigerian has starred for the Galaticos. The setting up of this institution could change that trajectory by producing new Ferenck Puskas, Santiago Bernabeur, Raul Gonzalez, Roberto Carlos,

Zinedine Zidane and Ronaldo. Mr Dare affirmed that “Since the main objective is to promote in Rivers State and Nigeria the values inherent in football as a profession, the Real Madrid Football Academy Port Harcourt is an educational tool capable of contributing to the comprehensive development of our youth by creating jobs and wealth. It also in sync with our motive of combining education and sports which are inseparable,” Dare noted.

C H A M P I O N S L E AG U E

Neymar Out of PSG, Barcelona Clash Again Paris St-Germain have ruled Neymar out of the second leg of their last-16 UEFA Champions League tie against Barcelona tonight. The Brazil forward missed the first leg against his former side, which PSG won 4-1 with a thigh injury. “Neymar returned to partial training with the squad last week and will continue to work back to fitness individually,” said a PSG statement on Tuesday.

Neymar who returned to training last week will not be ﬁelded today as he’s still recuperating from his injury

PSG’s on-loan Everton striker Moise Kean will also be absent as he is self-isolating because of coronavirus. Neymar helped the French champions reach their first Champions League final lastAugust and has scored 12 in 17 competitive fixtures this season. Meanwhile, Coach Ronald Koeman has insisted that Barcelona can pull off another incredible comeback against Paris SaintGermain tonight, especially if Lionel Messi plays at his sensational best. Koeman believes his team can repeat the ‘remontada’ of 2017, when they overturned a 4-0 defeat by PSG with an astonishing 6-1 victory. “There is always a chance,” said Koeman in a press conference yesterday. “It depends how we start the game, the energy we put into making life difficult for them and how ruthless we are. “They were ruthless in the first leg but we always create chances, so if we can be absolutely ruthless, nothing is impossible.” Despite scoring a penalty in the

first game at Camp Nou, Messi was overshadowed by a statement performance from PSG’s Kylian Mbappe, who ripped Barcelona apart with a stunning hat-trick. But Messi has been in good form with seven goals in his last seven games and Koeman believes his captain can produce something special to turn the tie. “If Leo can play one of his best matches, everything is possible,” Koeman said. “He is the kind of player than can decide any match, at any time.” Messi has been in the spotlight this week after Joan Laporta won the club elections to return as president on Sunday. Laporta oversaw Messi’s breakthrough at Barca during his first term in charge and has expressed optimism about persuading the 33-year-old to stay. “The new president has a history with Leo and other players in the team which is positive,” said Koeman. “I don’t know if it changes anything for Leo because only he can decide his future. “But of course

everyone at Barca wants him to stay with us. “The president won the elections by quite a distance and for the club it’s good to have a leader, to be able to work to improve the future of this club.” Laporta also met with Koeman on Monday, amid an uncertain future for Barcelona’s coach given the change of regime. “I know him, we have met a few times in the past,” said Koeman. “Everything depends on results but things have gone well so far. He said a few words to the players and staff and there was a good feeling.” Koeman will have yet another problem to solve in central defence against PSG, with Ronald Araujo left out of the squad on Tuesday due to a reccurence of an ankle injury. Gerard Pique is also missing with a knee problem. WEDNESDAY PSG v Barcelona Liverpool v RB Leipzig

Wednesday March 10, 2021

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APC to PDP “It is important to remind the PDP that in a democracy and progressive politics, power is not ‘taken’ but given through a popular mandate by the people. The current state of the PDP does not show the failed opposition party is anywhere close to earning such mandate from the electorate.” – The APC attacking PDP for saying that it will return to power in 2023.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

When is a People’s Constitution? F

ormer Head of State General Abdulsalami Abubakar made a point on ARISE NEWS the other day that should not be ignored by the advocates of a fresh constitution for Nigeria. The 1999 Constitution has been fiercely criticised as an imposition by the military government of General Abubakar. The opinion of many respected critics is that the document, which became the supreme law of the land with the promulgation of Decree 24 of 1999, lacks the legitimacy required of a people’s constitution. Since it was never subjected to a referendum, not a few pundits say the first line of the constitution containing the words “ the people” is “a lie.’ In response, the general said the problems attributed to the constitution ought to have been solved in the last 22 years of civil rule. That is certainly something to ponder. Abubakar, of course, pointed to the difficult circumstances of the emergence of the constitution especially the severe limitation of time. The Abubakar regime didn’t actually last a year because of the national mood in 1998/1999 which was decidedly against prolongation of military rule. The luxury of time was objectively not there for a thorough-going process of making a constitution. A committee led by the late Justice Niki Tobi put together the document which the military proclaimed a constitution. Such was the hurry that Abubakar’s information minister, Mr. John Nwodo, alleged recently that copies of the constitution had not been printed by the time General Olusegun Obasanjo took oath of office as President based on the constitution on May 29, 1999. The importance of Abubakar’s mild observation in the present situation is that the call for the restructuring as a solution to Nigeria’s problems is ultimately a constitutional question. In fact, the question to be asked is this: if the 1999 constitution is an improvisation, why in over two decades has the real thing not been put in place? The failure to have a constitution that fits the bill

cannot be said to be due to lack of committees and national conferences for the purpose. For the eight years of President Olusegun Obasanjo there were activities towards constitution review. Early in his tenure, Obasanjo set up an inter-party committee to review the constitution. The National Assembly had its own committee working towards the same objective. Later, a political reform conference was staged by Obasanjo. The efforts at constitutional review during that period ended in a denouement with the controversy over a third term for the president. The government of President Umaru Yar’Adua focussed specifically on electoral forms by setting up a committee for the defined purpose. The committee headed by former Chief Justice Muhammadu Uwais submitted a report 13 years ago which is yet to be implemented by government. The establishment of electoral offences tribunal is one of the recommendations embodied in the Uwais report. In pointing to the way out of the current crisis, references are often made to the recommendations of the 2014 National Conference convened by President Goodluck Jonathan. Some of the recommendations could be put into effect administratively and by means of executive orders. There are other definitive proposals of the popular conference that should be passed on to the National Assembly for the purposes of legislation and possible amendments to the constitution. For instance, it would require constitutional amendments to scrap the current system of 774 local governments, create or merge states or review the revenue allocation formular. In the same vein, you cannot modify the presidential system by incorporating features of the parliamentary system without changing the constitution. So, since 1999 it’s only the government of President Muhammadu Buhari that has not staged a constitutional conference. His party, the All Progressives Congress (APC), has restructuring of the federation in its programme. The party set up

a committee in the run -up to the 2019 presidential election on the implementation of that aspect of its 2015 electoral manifesto. With 26 months more in power, it is clear that making a “people’s constitution” is not a priority of the Buhari administration. Yet, there are patriotic voices to the effect that having a constitution that addresses the structural defects of the Nigerian federation is central to resolving the crisis. Reasoned arguments have been made in the course of this advocacy. Without losing the strategic focus of a restructured federation, tactical steps of political engineering may be required “to bring the nation back from the brink” as many observers are wont to say at this time. To do this, intellectual efforts should be made to demystify the whole process of constitution making. As Abubakar rightly explained, a great part of the 1999 Constitution is borrowed from the 1979 Constitution. The 1979 document has remained a reference point for over 40 years. Now, it is a historical fallacy to say that the 1979 constitution had no people’s inputs at all. Apart from the fact that 49 eminent Nigerian patriots drafted the document, a constituent assembly was elected to debate it. The debate was so vigorous and thorough that it has been dubbed the Great Debate in history. The debaters legitimately represented the Nigerian people from different constituencies in the country. The pro-people and nation-building content of the 1979 constitution would readily recommend it as a reference for any constitution-making process. Here we are talking, in particular, of the Chapter II of the constitution which is reproduced in the 1999 Constitution. In this socially remarkable chapter, the “security and welfare” duty of the government is comprehensively defined, but unfortunately not made justiciable. At the root of the current multi-dimensional crisis is the failure of government to perform this constitutional duty. This collapse of governance could have been avoided if government had been guided by this chapter

of the constitution. By the way, when critics dismiss the constitution as “useless”, are they also saying that the Chapter II is of no material value to the welfare and security of the people? As people’s lawyer, Femi Falana, pointed out recently in a lecture, the restructuring debate is seemingly silent on this aspect of the constitution. The current advocacy should include making the socio-economic rights spelt out in Chapter II easily justiciable. A document would certainly not be a people’s constitution without a similar or even richer content than the provisions of Chapter II in which the basic needs of the people are made part of the “fundamental objectives and directive principles of state policy.” Doubtless, a new constitution cannot be proclaimed in spite of a sitting President. It would take a revolution to have a constitution made without the government in place leading the process. The Buhari administration seems to have pushed the matter of constitution review to the National Assembly. Therefore, instead of drafting a fresh document, democratic forces should rather engage the National Assembly sufficiently to review the constitution to meet the needs of restructuring. As organic documents, great constitutions have been improved upon through amendments and reviews in other countries. It is not enough to say that the legislators lack the legitimacy to make a people’s constitution. After all, the federal and state legislators elected by the people make laws for the country. Everybody is expected to obey these laws. From the several documents produced in the last four decades from conferences and by committees, the question may not only be about what should be the content of a people’s constitution. In sum, the lawmakers elected by the people should be pressured to review the constitution to meet the urgent needs of the nation. If not, the question may as well be asked: when is a people’s constitution?

Osinbajo on Security, State Police Jimoh Ibrahim At 64, Vice President Yemi Osinbajo, a Professor without a Ph.D. degree, must have come ahead of his age in the contemporary times of intellectual politics. In the next few years, he will be out of politics, not out of the political system. He will be remembered for his thesis on human security and the phenomenon of the state police. Yes, Osinbajo may not achieve his desire for the state police for now. The government’s mathematical algebra characteristics (he is part of) and the irredeemable political strategy of individual self-esteem playing high in the face of human insecurity is one obstacle he may not overcome in the present time. Osinbajo’s thesis is clear that state police will be fostering human security and bring about muchneeded peace for humanity. Osinbajo reacting to the elementary questions for students of security in international relations who will usually debate: Security for in (or of) what, security from what, security for what, and security by what means? Distilling those questions to an appropriate analysis will surely propel an answer that suggests a decentralising policing system in the converging federation of dotted ethnicity and scattered jurisdiction of an incredible human accident of one federation demanding for (golden) national unity.

Osinbajo Suppose Osinbajo did not achieve the desire of his thesis now. In that case, it is too confident that at one time in the point of need. Nigeria (I predict will be begging for intellectuals to lead the government) in the face of the dangerous political lane, Osinbajo thesis will be a new strategy to go in a contemporary Nigeria (I mean the desire for state police). The value for security in the present time is

indispensable considering the state of insecurity in Baghdad, Beirut, Gaza, Mogadishu, Grozny, Belfast. Again no one will forget so soon September 11 attack on the World Trade Center or the July 7 bombings on the London Underground or the not too far away from us the Boko Haram insurgency and the Nigeria military counterinsurgency. Or the state of insecurity passed on to us by the amalgamation of 1914 or the not too long after the Nigeria independence- the civil war of the Biafra nation attempt to secede from the circumstantial British inevitable federation of Nigeria. In all, there is enough for Osinbajo to be worried about. Trajectorially, Thomas Hobbes reacted to the nature of man in the state of nature. And, the desire for safety and peace necessitation the control of man by the Leviathan. ‘there is no place for industry… no arts, no letters, no society; and which is worst of all, continual fear, and danger of violent death; and the life of man, solitary, poor, nasty, brutish, and short’. I have reacted to Thomas Hobbes in the introduction chapter of my second Ph.D. thesis on Modern war. I said: “A New war emerging in the face of the Nigerian Leviathan’s undermined man’s dignity contrary to Hobbesian assertions—the Nigerian government’s failure to provide public goods to the emergence of the Boko Haram insurgency. The citizens contest their rights to life (now in

danger), withdrawing their loyalty and support from the government and the armed forces. A praxis leads to a power shift from the state to the identified local group (Boko Haram), now defending their ethnic territory resulting in continuous violence between soldiers and civilians with mass civilian casualties, genocide, systemic rape, and unquantifiable property destruction fostering human insecurity. I further expressed the fear that: The experiences of clans, tribal groups, fractions, nations, and profit-seekers attempt to secede are noticeable from Tamils in Sri Lanker and Russian in East Ukraine. Insurgency gaining control to power (Angola and Mozambique) or new wars arising from acquiring or having access to lucrative materials/ resources (Syria and Iraq) are comparative studies that strengthen the Nigerian insecurity dilemmas and may explain Osinbajo desire for state police. If we secure individuals, we secure the state and the international geo-centric family. If we undermined the Security of one individual, we put the state’s peace at risk, and we invite war of the global system. Mr. Ibrahim, Commander of the Federal Republic (CFR), is a businessman NOTE: This piece continues in the online edition on www.thisdayliive.com

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