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Cash-strapped FG to Utilise Part of Eurobond, Domestic Borrowing to Finance Fuel Subsidy Peter Uzoho with agency report

The federal government plans to tap €2 billion ($2.2 billion) this month or next of the money it raised through Eurobond sale last year and target

more local borrowing in 2022 to help fund its costly petrol subsidies as oil prices rise, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed has revealed.

She told Reuters that the country would not tap the Eurobond market this year.

"Rising oil prices has put us in a very precarious position ... because we import refined products ... and

it means that our subsidy cost is really increasing," she said on the sidelines of an Arab-African conference in Cairo.

The federal government in January reversed a plan to end fuel

subsidy by the middle of this year, and instead extended them by 18 months to avert any protests in the run-up to presidential elections next year.

But the price of oil soared

recently, but the price of Brent crude - the global benchmark for prices - dropped below $100 a barrel for the first time since Continued on page 10

With Worsening Power Supply, Rising Price of Diesel, OPS Foresees Tough Economic Environment…Page 6 Wednesday 16 March, 2022 Vol 27. No 9836. Price: N250

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NBS: Foreign Trade Recorded N1.96trn Deficit in 2021... Page 51

Atiku: I Didn’t Run against Obasanjo in 2003 to Sustain Zoning Policy Explains why he rejected Tinubu as running mate in 2007

Chuks Okocha in Abuja A former Vice President and presidential hopeful, Alhaji Atiku Abubakar, yesterday,

said the reason he did not run against his principal’s re-election, former president Olusegun Obasanjo in 2003, was because he wanted to

keep the zoning policy of the then ruling Peoples Democratic Party (PDP) Atiku, who spoke when he appeared before the PDP Board

of Trustees (BoT), also said he refused to make a former governor of Lagos, Asiwaju Bola Tinubu, his running mate in the 2007 election, while still in

the Action Congress of Nigeria (ACN), because he didn't want the Southeast to claim that they were being marginalised.

Atiku also said the south had

ruled Nigeria more times than the north since the country returned to democracy. The former Continued on page 10

Despite Akpanudoedehe’s Optimistic Statement, Buni, Bello Reconsider Positions CECPC secretary commends INEC for standing firm, says party is crisis-free Reconciliation still on-going, Ganduje declares Party commences sale of forms ahead of convention, chairmanship goes for N20m Bid to vacate order stopping convention suffers setback Chuks Okocha, Adedayo Akinwale and Alex Enumah in Abuja Indications emerged yesterday that all governors elected into the Caretaker/Extraordinary Convention Planning Committee (CECPC) of the ruling All Progressives Congress (APC) would be standing down in a no victor, no vanquished deal reached with the Chairman of the committee and Yobe State governor, Mai Mala Buni, and allow other members of the CECPC to continue and conclude the party’s national convention scheduled for March 26th, 2022.

Already, Osun State governor, Mr. Adegboyega Oyetola, who was a member of the CECPC had resigned in order to face the forthcoming gubernatorial election Continued on page 10

values IN leadership...

L-R: The Ogoga of Ikere Ekiti, Oba Samuel Adejimi-Adu Alagbado Agirilala ll; CEO/Founder, Centre for Values in Leadership (CVL), Prof Pat Utomi; Awardee and former NBA President, Mr. Wole Olanipekun; Former Managing Director, Daily Times Newspaper and Ambassador, Dr. Patrick Dele Cole; former Governor of Ogun State, Olusegun Osoba and Ms. Seon Adepoju Nee Cole, at the Honorary Leadership Colloquium by CVL held in Lagos… recently PHOTO: MUBO PETERS

Falana: Ekwo's Judgment Sacking Umahi, Deputy, 15 Legislators in Tandem with Law... Page 50

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

WAEC IS 70...

L-R: Minister of State for Education, Emeka Nwajuba; Vice President, Yemi Osinbajo, and Minister of Youths and Sports, Mr. Sunday Dare, during the 70th Annual Meeting of WAEC at Transcorp Hilton Abuja...yesterday

AfDB Woos Investors with $58bn Bankable Projects in Africa Dike Onwuamaeze The African Development Bank (AfDB) is wooing investors that have appetite for high returns and social impacts with 42 bankable deals in Africa that have combined value of $58 billion.

This was disclosed yesterday by the President of the AfDB Group, Dr. Akinwumi A. Adesina, during the opening ceremony of the Africa Investment Forum (AIF) virtual Boardroom Session 2022, where he said the investment opportunities included, “$15.6 billion transport corridor that will link Lagos to Cotonu-Lome-Accra and Ivory Coast, and the $140 million film academy in Nigeria.”

Akinwumi stated that the

boardrooms would feature projects in key priority sectors identified in the AIF’s 2020 Unified Response to COVID-19 initiative.

These sectors, according to him, included agriculture and agro-processing; education, energy and climate, healthcare, minerals and mining, information and communications technology and telecommunication, and industrialisation and trade.

He added: “Today, we have curetted for you 42 project deals with a combined value of $58 billion. There are several investment opportunities. They include $247 million special agro industrial processing zone in northern Ivory Coast. They include a $3.3 billion East Africa railway corridor that

will connect Tanzania to Burundi and the Democratic Republic of Congo (DRC).

“They include healthcare projects to develop a state of art Accra medical city. They include a digital health transaction and a fund to support universal healthcare for low income patients. They include the $545 million mine project in DRC that will be critical for the global electric car industry.

“We have $140 million film academy in Nigeria. And deals in women lead businesses worth $5 billion. When women sin Africa wins. There are many more. The expectations are high. The deals are ready.”

He described the AIF as a multi-stakeholder, multi-disciplinary

platform meant to advance private and public-private partnership projects to bankability. It also raises capital and accelerates deals to financial closure.

“The AIF is a connector, connecting project sponsors, investors, and financiers from public to private sectors. It helps to mitigate investors’ risk be deploying derisk guarantees including partial risk guarantees as well as partial credit guarantees to reduce risks to investments.

“It is a unique transaction platform where deals are get done. It is the Africa’s premier investment market where AfDB and its partners advance projects to bankable stages, raise capitals and accelerate deals to financial closure,” Adesina said.

He said that the outbreak of COVID-19 stopped the AIF from holding in 2020 and 2021, which were postponed for health benefit of everyone, adding that the pandemic affected investments flows into Africa.

He referred to UNCTAD investment trend monitor, which showed that foreign direct investments inflow to Africa declined by 28 per cent in the first quarter of 2020, and by the end of the third quarter of the same year, investments in Greenfield projects declined by 66 per cent while cross border mergers and acquisition declined by 44 per cent.

Adesina said: “Yet Africa is resilient. African economies are recovering well from the effects of the pandemic. The investment opportunities in Africa have not changed.

“Africa remains the place to invest for investors looking to reap high returns and high social impacts.

That is why I am delighted that we have 300 investors from around the world. Your participation shows that you see that opportunities in Africa that cannot be ignored.

“The AIF is a unique transaction platform where deals get done. It is the Africa’s premier investment market where AfDB and its partners advance projects to bankable stages raise capital and accelerate closure of deals.”

The AIF is an initiative of the AfDB with Africa 50, the Africa Finance Corporation, the African Export-Import Bank, the Development Bank of Southern Africa, the Trade and Development Bank, the European Investment Bank, and the Islamic Development Bank as founding partners.

Drama as Reps Move to Conduct Status Inquiry on NRC, Ibadan-Lagos Train Fuel Saga Eni: Force Majeure on Udora Orizu in Abuja A slight drama played out on the floor of the House of Representatives yesterday as lawmakers resolved to conduct an inquiry into the activities of the Nigerian Railway Corporation (NRC) as well as the recent Ibadan-Lagos train fuel incident with a view to address inefficiencies in the railway sector.

The Minority Leader of the House, Hon. Ndudi Elumelu (PDP, Delta) who sponsored the motion of urgent national importance had expressed concern over the inefficiency in the management of NRC which came into existence 112 years ago for the purposes of easy and cheap movement of bulk goods and commuters from hinterlands to seaports.

Elumelu while noting that the agency is under the supervision of the Ministry of Transport, said the House was aware that in recent times, there had been series of media reports on how passenger trains broke down in the middle of nowhere over lack of maintenance, thereby subjecting commuters to possible attacks by hoodlums and armed robbers who could brutalise, maim and cart away hard earned monies and

goods of innocent Nigerians.

He recalled the sad episode of Thursday, March 11, 2022, where a train conveying passengers and goods from Lagos to Ibadan came to a halt midway due to insufficient fuel, once again endangering the lives of innocent Nigerian travellers on the trip.

Elumelu argued that for a train to leave the station with insufficient fuel only to get stuck midway into the journey with traumatised and stranded passengers, was a huge national embarrassment, “which not only makes our nation a laughing stock in the eyes of the international community but a complete system failure.”

Elumelu while describing as laughable the excuse by Managing Director of NRC, Fidelis Okhiria, also complained about the House not receiving frequent update from the Committee Chairman on Railway, Hon. Tajudeen Abbas.

He warned that if the, “irresponsible and careless act by the NRC is not effectively tackled and nipped at the bud, it may one day lead to a major disaster where innocent Nigerians will end up losing their lives, hence the need for this motion.”

Shortly after moving his motion, Elumelu's deputy, Hon. Toby

Okechukwu, in his contribution said the motion was important as it involved the lives of Nigerians, saying, “if prudent and deliberate efforts is not made, to forestall such situations occurring, lives will be exposed to danger.”

Interjecting, the House Leader, Hon. Ado Doguwa was of the view that the motion was investigative and straightforward, hence Okechukwu's contribution should be suspended as it is dilatory.

Reacting, the Speaker Hon. Femi Gbajabiamila faulted his assertion saying that investigative motions could be debated, “so that members can air their views.”

Gbajabiamila added: "I disagree with you, Doguwa. What I know is that infrastructural motions are not debated. But we debate investigative motions in this house all the time. The fact that the mover of the motion said it’s straightforward, that’s his own opinion.

“To other people in the House, it may not be straight forward. There might be other people that want to oppose the motion. So if we lay a precedence that somebody brings an investigative motion and you say it’s straightforward then exclude others from speaking then it’s dangerous precedence."

But, Doguwa maintained his

stance, describing the Deputy Minority Leader, Okechukwu as a messenger of doom.

He hinged his assertion on the comment made by Okechukwu during the debate on scarcity of aviation fuel, during which he had expressed concerns about aircraft crashing due to lack of fuel.

Doguwa said, "Mr. Speaker I stand guided, Okechukwu is being dilatory because this is someone trying to be like a messenger of doom. Giving us stories about aircraft crash, how can you be a messenger of doom. The example he gave about aircraft in the air loosing fuel to crash is like messenger of doom."

Gbajabiamila, thereafter called Okechukwu to give his right of reply.

Responding, Okechukwu emphasised that his contribution to the motion was necessary, given the amount of money the country borrowed from China to build that railway.

The House however resolved for a status enquiry on the operations of Nigerian Railway Corporation and report back to it in four weeks.

His amendment was thereafter put to a voice vote by the Speaker, and it was adopted by the lawmakers.

Vandalised Oil Facilities to be Lifted This Week Peter Uzoho

Italian oil major, Eni, has promised to lift the force majeure on the Ogoda/Brass 24 oil pipeline in Bayelsa State this week.

Eni in an updated statement issued yesterday, said repairs on the facilities which was vandalised by third party interference had been completed.

The facilities located at Okparatubo in Nembe Local Government Area of Bayelsa State was reportedly hit by blast caused by a third party interference on March 5, resulting in a spill and the declaration of force majeure on the oil infrastructure.

"Repairs on the Ogoda/Brass 24 oil pipeline at Okparatubo (Nembe Local Government Area, Bayelsa State), which was hit by blast on March 5 caused by a third-party interference, have been completed.

The force majeure is expected to be lifted by this week," the statement said.

Following the incident on the facilities, Eni had stated that all

wells conferring in the pipeline were immediately shut-in whilst river booms and containment barges were mobilised to reduce the impact of the spill.

As part of the intervention measures, it said regulators for inspection visit and repair teams were activated, while Bayelsa State, federal government and security authorities were notified.

It disclosed that production on the facilities was estimated at 25,000 barrels of oil per day and about 13 million standard cubic feet per day of gas.

"Force majeure has been declared at Brass terminal, Bonny NLNG and Okpai Power Plant.

"Repairs on the pipeline have been completed. The force majeure is expected to be lifted by this week.

This is the second blast in the area in a few days.

"Former event occurred on a riser of Obama/Brass 18" oil line on February 28 and caused a production deferment of about 5,000 barrels of oil per day for few days," the statement said.

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WORLD CONSUMER RIGHTS DAY CELEBRATION...

L-R: Board Member, Nigerian Communications Commission (NCC), Mr. Abdulazeez Salman; Executive Commissioner, Stakeholder Management, Mr. Adeleke Adewolu; Executive Vice Chairman/CEO, Prof. Umar Garba Danbatta; Board Chairman, Prof.

Adeolu Akande; Director, Consumer Affairs Bureau, Mr. Efosa Idehen; Director Projects, Mrs. Abigail Sholanke, during the 2022 World Consumer Rights Day celebration at Abuja ...yesterday

With Worsening Power Supply, Rising Price of Diesel, OPS Foresees Tough Economic Environment Power sector grid recorded another collapse yesterday Emmanuel Addeh in Abuja and Dike Onwuamaeze in Lagos The Organised Private Sector, OPS, comprising the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Lagos Chamber of Commerce and Industry (LCCI) and Manufacturers Association of Nigeria, MAN, have said the current energy crises plaguing the Nigerian economy add to

the woes of business operators in the country.

This is on the heels of findings that Nigeria’s national power grid experienced another downtime yesterday, barely 24 hours after it witnessed a similar system collapse, resulting in a nationwide blackout.

However, NACCIMA and LCCI also pointed out that the development would create a difficult environment for businesses and Nigerians in the form of accelerated

inflationary pressure, high cost of production, retrenchment of workers and worsened poverty rate.

The representatives of private sector operators however said they did not foresee economic activities in the country coming to a standstill due to the energy crises which has been manifesting in the form of poor supply of electricity, high cost of diesel, scarcity of petrol and shortage of aviation fuel that saw airline operators announcing

that they would shut down flight operations from March 17.

The National President of NACCIMA, Mr. John C. Udeagbala, told THISDAY yesterday that although the association appreciated that the current energy crises would have far-reaching implications for the Nigerian economy as the use of the products were entrenched in the production and transportation processes of both the public and private sectors, yet, “we do not

House Moves to Recover $6.479bn Debts Owed By Oil Companies Juliet Akoje in Abuja The House of Representatives has begun moves to recover the $6.479 billion debts owed federal government by oil and gas companies operating in the country as they commenced investigative hearing on the matter.

According to the Nigeria Extractive Industries Transparency Initiative (NEITI) reports, the total outstanding liabilities of $638.090 million recorded in 2017, was due to the DPR, while from the total outstanding liabilities of $6.207 billion recorded in 2018, the sum of $3.849 billion was due to DPR while $2.358 billion was due to FIRS. In 2021, the status of the liabilities showed that $73.097 million was outstanding as at 30th September, 2021, with a grand total of $1,964,036,289.54 and £1,969,795.92 owed by 84 oil companies operating in the country.

The Director General/Chief Executive of National Oil Spill Detection and Response Agency (NOSDRA), Idris Musa while speaking during the investigative hearing yesterday, affirmed that Nigeria loses about $7.733 billion due to emission reduction charges, based on natural gas unit rate from US Energy Information Administration on the United States Natural Gas Industrial Price (in dollar per thousand cubic feet).

“According to the Gas Flare Tracker (GFT), Nigeria flared 1.1 billion Mscf. This amounts to a loss of about 2.2 billion Dollars to the Nigerian economy for the period under review.

“Based on the National Gas Flare Commercialisation Programme launched December 13, 2016, all gas flare points have been taken over by the federal government and are to be sold by Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The programme waived penalties, as flared gas is now owned by the Federal Government rather than operators.”

Adding to that, NOSDRA imposed fine of $3.6 billion on Shell

Nigeria Exploration and Production Company (SNEPCO) Bonga Oil Spill of December 2011 where 40,000 barrels of crude oil were spilled into the marine environment before the spill could be combated but noted the company appealed and the case is still ongoing.

Meanwhile, the FIRS record on the status of money recovered from 38 oil companies as at January 31, 2022, stood at $512,602,086.12 while NPDC records showed total sum of $392,613.105.88, with a grand total of $905,215,192, while total outstanding liability was put at $467,691,568.67.

According to documents submitted to the Committee, President Muhammadu Buhari approved 50 per cent waiver of total sum of $880.139 million for the Nigerian Petroleum Development Company (NPDC) in line with the special request made by the NNPC Group

Managing Director, Mele Kyari.

The President Buhari’s approval was conveyed via a letter with Ref. No: PRES/158/NNPC/85/87/ MF/204 dated 9th July, 2021 signed by the Chief of Staff to the President, Professor Ibrahim Gambari, and addressed to the NNPC GMG and Minister of Finance, Budget and National Planning.

The approval was conveyed on the same day the NNPC Managing Director, Mele Kyari sent the 5-page request titled: ‘Special request for a waiver of fifty percent (50%) outstanding of outstanding tax liabilities of the Nigerian Petroleum Development Company (NPDC)’, through which he urged “Mr. President to kindly direct the Minister of Finance, Budget and National Planning to mandate the Federal Inland Revenue Service (FIRS) to implement the above approval as

provided in Sections 23(2) and 89 of the Corporate and Allied Matters Act (CITA) as amended.”

According to Kyari, NPDC which was involved in 34 concessions with equity production of circa 200,000 bopd, supplies over 650 million standard cubic feet per day of gas to the domestic and export market.

“The company’s financial health is threatened by the growing level of receivables from the Federation and other critical stakeholders, especially in the power sector amounting to over Two (N2) Trillion naira. NPDC cannot exercise the typical option of declining supply of gas to the power sector.

“The payment defaults by the power sector and other stakeholders have continued to impair NPDC’s ability to settle huge tax liabilities tied to unpaid gas delivered to domestic market,” the letter read in part.

expect that the shutdown of flights over the scarcity of aviation fuel and the issues of the national grid to bring the economy to a standstill in the short or medium term, rather, with rising prices, we expect rising inflation, a further erosion of the purchasing power of the population, and redistribution of wealth that plunges more of the population below the poverty line.

“This is the likely result of the private sector seeking to adapt and adjust to the new realities.”

He added that NACCIMA, “is extremely concerned about rising prices of petroleum products; particularly diesel and aviation fuel; a hike which is very possibly an effect of the ongoing conflict in Europe and made worse by a lack of domestic production to meet demand despite the existence of refineries.”

The NACCIMA boss also reiterated his call for incisive policy implementation within the energy sector, “to limit our economy's exposure to global shocks and serve as a springboard for sustained economic growth.”

Speaking in the same vein, President of LCCI, Dr. Michael Olawale-Cole said the escalating price of diesel, scarcity of petrol and aviation fuel as well as the collapse in national grid would definitely have implications for production downtimes, exasperate inflationary pressure, and eventually cause loss of jobs if they were not curtailed on time.

Olawale-Cole said: “With oil

prices above $110 per barrel, this has not translated into profits for Nigeria for the reason of equally increasing fuel subsidy payments.

The price of diesel, mostly used in industrial production and other heavy-duty operations has risen above N720 per litre.

“This definitely has implications for production downtimes, rise in prices, and eventually loss of jobs if not curtailed on time. The most sustainable way to go is to increase our local refining capacity and save the huge spending of our foreign exchange on importation of fuel.”

He added: “We are passing through a phase in our lives as a nation and I am very confident that we will survive it. All we can do is to keep advocating and keep discussing for solutions. The idea is for us to talk and give government alternative ideas as to what we feel it should do.

“The fact that subsidy payment increased by 447 per cent in seven years when capital expenditure remained under funded signified that opportunity costs, which by the way, is the real cost of the petrol subsidy payment, is very expensive.

“In fact, the resources that would have been used to provide standard road infrastructure, quality health care system, quality education and social safety net have gone into subsidising petrol consumption. It is also stifling private investments as uncertainty about price regulations discourage serious investment.”

Continued on page 50

UK Suspends Student, Work, Family Visa for Nigerians The UK has announced that it has suspended priority visas for student, work and family applications for Nigerians amid ongoing RussiaUkraine war.

In a statement yesterday, made available to THISDAY, the British government stated that its focus was being directed at Ukrainians who are in dire straits due to the invasion of their country by Russian army.

“We are still currently unable to offer PV for visitor applications in Nigeria. Standard visitor applications are currently taking an average of six weeks to process,” said the UK government. “Applicants will be contacted by the Visa Application Centre (VAC) when their passport is ready for collection. They should not attend the VAC until they have been invited to do so. We apologise for any inconvenience this may cause.”

Ukraine has come under severe missile and armoured attacks since February 24 when the Russian

soldiers stepped into the European country. Amid the war, hundreds of thousands of Ukrainians have fled the country leaving friendly European nations rushing to take them in as refugees.

“UK Visas and Immmigration is currently prioritising applications made under the Ukraine Family Scheme, following its launch and in response to the humanitarian crisis arising from the invasion of Ukraine,” announced the British government to Nigerians intending to make priority visa application.

The statement added, “As a result, UKVI have temporarily suspended priority and super priority services for new study, work, and family applications. Customers with standard applications in study, work, and family routes may experience some delays in the processing of their application.”

As part of its humanitarian efforts to assist Ukrainians, the British government set up the Ukraine

Family Scheme.

The visa scheme allows Ukrainians to apply to join family members or extend their stay in the UK. According to the UK government, the visa is free to apply for and allows Ukrainians to live, work and stud in Britain and access public funds.

According to the Foreign, Commonwealth and Development Office (FCDO), the UK government is providing a range of economic, humanitarian and defensive military assistance to Ukraine, including the provision of additional humanitarian aid for vital medical supplies and other help, including supporting non-governmental organisation responders by match funding £25 million of public donations to the Disasters Emergency Committee Ukraine humanitarian appeal. It said it was also providing defensive military aid to Ukraine, continuing to work with international partners to supply vital weapons to the

Ukrainian Armed Forces.

Besides the humanitarian gesture to Ukraine, the UK government has imposed a laundry of sanctions on Russia and its interests, including individuals deemed as allies to President Vladimir Putin’s government.

The UK Foreign Secretary Liz Truss announced over 370 more Russian and Belarussian sanctions on Tuesday, which means the UK had designated over 1,000 individuals and entities since invasion under the Russian sanctions regime. The sanctions include more Russian oligarchs and their family members, Putin’s political allies, and propagandists.

The UK is also sanctioning over 370 more individuals, 51 of whom are oligarchs and their family members.

According to Truss, the vast majority of Tuesday’s designations are made possible under the Economic Crime (Transparency and Enforcement) Act, which has Royal Assent, giving the UK government

new powers to act in the public interest and immediately designate individuals and entities under an urgent procedure, while evidence is gathered to sanction them under “our own standard procedure.”

“Russian oligarchs now subject to UK sanctions include Mikhail Fridman, Petr Aven, and German Khan. The oligarchs who will be sanctioned today have a combined estimated worth of more than £100 billion (estimated net worth based on Forbes),” added Truss. “Putin political allies now sanctioned include Prime Minister Mikhail Mishustin, Defence Minister Sergei Shoigu and former President of Russia Dmitry Medvedev. Meanwhile, Russian propagandists who have been designated include Putin’s Press Secretary Dmitry Peskov and Russian Foreign Affairs spokeswoman Maria Zakharova, among others.

A notorious internet ‘troll farm’, the Internet Research Agency, has also been sanctioned.”

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EMZOR BUSINESS MEETING WITH OGUN GOVERNOR...

L-R: Chief Executive Officer, Emzor Industries Nigeria Limited, Stella Okolie; Ogun State Governor, Prince Dapo Abiodun, and the State Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, during a business meeting at the Governor’s office at Abeokuta...recently

N800bn Judgment: Ex-Shell Lawyer Hails Ruling, Says It will Send Right Signals to IOCs Emmanuel Addeh in Abuja A former Legal Adviser and Managing Counsel, Legislative Development with Shell Petroleum, Chief Madaki Ameh, yesterday hailed the unanimous ruling of the Court of Appeal, Owerri Division, directing Shell to make a deposit

of N800 billion with the court.

Presiding over the matter Justice Rita Pemu, had instructed that Shell Nigeria and its parent companies, should deposit the judgment debt of N8OO billion (about $1.95 billion) in an interest yielding escrow account controlled by the court.

She also halted any further

sale of its onshore and offshore assets belonging to Shell in Nigeria , pending the determination of the substantive appeal.

The court ordered that Shell: “Whether acting by itself or through its agents, officers, employees, servants, privies, representatives, subsidiaries or otherwise howsoever

called or described from selling, allocating, vandalising and or disposing off any of its assets/properties including official structures, oil wells, oil fields, installations, vehicles, equipment, investments, offshore or onshore or any of its properties of Nigeria pending the hearing and determination of this appeal.”

Osinbajo: No Nation Can Develop Without Scientists Deji Elumoye in Abuja The Vice President, Prof. Yemi Osinbajo has declared that no country in the world can make any reasonable progress without the necessary input of scientists.

Speaking while playing host to a delegation of the National Institute for Pharmaceutical Research and Development (NIPRD), a parastatal under the Federal Ministry of Health, at the State House, Abuja, Osinbajo said: "I don’t believe that there is any country in the world that can really appear to be doing well, not to talk of doing well, if they don’t take their scientists seriously."

He, therefore, canvassed for Nigerian scientists to get adequate support in the drive towards national development, especially in the age of technology.

The NIRPD delegation, which was led by its Director-General/ CEO, Dr. Obi Peter Adigwe, made a short presentation to the vice president on its projects which focused on three thematic areas namely uterine fibroids, prostate issues and men’s health, and sickle cell disorder.

Acknowledging the work being done by the institute in the areas of medical research and pharmacology, the vice president expressed satisfaction with their endeavour.

“I’m truly proud of what is going on in NIPRD; the sheer amount of serious work that is coming out of there. And I am pleased that at least we are taking our scientists seriously.

“It is very evident that we must do something more serious about our scientists; and we must continue to ensure that they provide the

leadership in terms of innovation, medical research, engineering and all of the various other areas that are important to our development.”

Making reference to the inadequate access to COVID-19 vaccines for developing countries at the height of the global pandemic, Osinbajo emphasised that, “Africa needs to do a lot more in terms of developing capacity to solving our problems.

“Everybody at the end of the day will solve their own problems.

And I think that we have all the capacity to do so, and that capacity is very well represented in NIPRD, in the excellent talents and experience that you have put together,” he noted.

He also observed that it is becoming increasingly important to provide requisite incentives to encourage and reward local

OPL 245: UK’s Anti-fraud Agencies Gave Us Go-ahead to Pay Malabu, Says JP Morgan JP Morgan Chase Bank (JPMC) says it sought and got the approval of UK anti-fraud agencies before transferring funds to Malabu Oil & Gas Ltd from the sale of OPL 245 to Shell and ENI in 2011.

The bank, in its opening submissions for trial at the Business and Property Courts of England and Wales Commercial Court, said it sought consent from the UK Serious Organised Crime Agency (SOCA), which considered the request in tandem with the Metropolitan Police Service’s Economic and Specialist Crime Proceeds of Corruption Unit.

“SOCA told JPMC that it was engaging with a UK law-enforcement officer based in Nigeria and the UK High Commission in Nigeria as part of its investigation,” it said.

“SOCA, which had access to far more information about the relevant events than JPMC did, gave its consent for JPMC

to make the payment.” JPMC said the payment requests were subjected to “a high degree of scrutiny within JPMC”.

“As will appear, despite its limited role in relation to the 2011 settlement, JPMC went to considerable lengths to ensure that the payments it was asked to make were correctly authorised and should be made. That involved a large number of the bank’s personnel, many very senior, in the UK, US and Nigeria,” it said.

“For example, JPMC attended meetings with senior representatives of the FGN in Nigeria to conduct the necessary “know your customer” (“KYC”) checks and to verify the authorised signatories for the Depository Account. JPMC understood that the purpose of the Resolution Agreements was to settle the long-running disputes about OPL 245 and that President Jonathan had personally approved the settlement.”

Shell and ENI paid a total of $1.3 billion to Nigeria’s account at JP Morgan — $801 million to Malabu, the original OPL 245 llottees, and $210 million as signature bonus to the federal government.

Nigeria is seeking $1.7 billion from JP Morgan for allegedly failing in its Quincecare duty which, the country says, would have revealed that the deal was a “fraudulent and corrupt scheme” .

An Italian court in March 2021 dismissed all charges of corruption in the transaction, discharging and acquitting all the defendants, including Shell, ENI and Dan Etete.

The US Department of Justice (DoJ) previously investigated the OPL 245 deal and announced in October 2019 that it was closing the case.

In April 2020, the US Securities and Exchange Commission also closed investigation into the controversial deal after it could not prove fraud or corruption.

scientists.”

According to him: “Here in Nigeria, obviously, we need a bit more in terms of being able to manage and reward talents so that people remain and then are able to do the work."

The vice president praised the NIPRD team for providing solutions to local issues and being able to deliver on its mandate within the limited resources it has, while assuring them of the federal government's continued support in improving their capacity and infrastructure.

“We should continue, and push even more, in that direction,” he added.

Earlier in his remarks, the DG/ CEO of NIPRD, Dr. Obi Adigwe, thanked the President Muhammadu Buhari’s administration for its continued support.

He also commended Osinbajo for championing the progress and development of the institute, noting that the vice president’s remarks at the Institute’s conference in October 2021, was a major inspiration behind their ongoing projects.

In the case between Chief Isaac Obor-Ntito Torchi & 87 others, the court urged the oil giant to deposit the said judgment sum into the court's interest yielding account, pending the determination of the appeal.

The applicants had approached the Court of Appeal with a view to upturning a judgment of a Federal High Court, Owerri, which had found them guilty of polluting farmlands as well as rivers and other surroundings in Ejalawa Community in Oken-Ogosu, Egbalor Ebubu/Eleme Local Government of Rivers State.

Justice T.G. Ringim of the Owerri Division of the Federal High Court, had earlier in November 2020, ordered Shell to pay the sum to members of Ejalawa Community, being compensation for damages to their farmlands and other destruction caused by oil spillage from the activities of Shell in the area on September 18, 2019.

However, shell in the appeals marked: CA/W/498/20 and CA/ OW/490/20 respectively, also applied for a stay of execution of the judgment of the trial court.

In arguing the appeal, Shell’s lawyer, Mr. Sonny Wogu, had urged the court to stay the execution of the judgment of Ringim pending the hearing and determination of his clients appeals against the judgment.

This was vehemently opposed by lawyer to the respondents, Mr. Mohammed Ndarani, who pleaded with the court to rather mandate the appellants to deposit the judgment sum in an interest account pending the final determination of the appeal.

THISDAY had reported that Ndarani had expressed fears that the appellants were set to close their office in Nigeria and relocate to another country, which would jeopardise the judgment if nothing was done.

But in a statement, Ameh, who is an energy expert and Managing Partner, BBH Consulting, in his reaction, said that the “bold” ruling, the biggest award ever made in Nigeria's oil and gas industry, sends the right signals to operators in the industry that it is no longer business as usual.

He said that the ruling by the Court of Appeal, Owerri Division demonstrated the readiness of the Nigerian judiciary to protect the rights of the oil producing communities in the Niger Delta.

According to him, these rights have long been trampled upon for decades since the beginning of oil and gas exploration and production in Nigeria.

He urged Shell to live up to its responsibility as a good corporate citizen and a global operator by respecting the Nigerian judiciary and complying with this order of the Court of Appeal, Owerri Division within the time frame of 48 hours stipulated by the court, as the company would do in other areas of the world where it operates.

He urged the oil and gas producing communities in the Niger Delta to remain vigilant and be prepared to legitimately agitate for the protection of their inalienable rights guaranteed under several international conventions to that effect.

500,000 Maize Farmers Benefit from CBN's Anchor Borrowers Programme Francis Sardauna in Katsina No fewer than 500,000 maize farmers across Nigeria have benefited from the Central Bank of Nigeria’s (CBN) Anchor Borrowers programme in the last six years.

The National President of Maize Farmers Association of Nigeria, Bello Abubakar Funtua, disclosed this when he led members of the association on a courtesy call to the Emir of Katsina, Dr. Abdulmumini Kabir Usman.

He explained that 80,000 maize farmers in Katsina State have so far benefited from the programme as part of effort to enhance food production in the state.

According to him, "We have

more than 80,000 maize farmers in Katsina State that benefited from the CBN Anchor Borrowers Programme through the Maize Farmers’ Association of Nigeria.

"We have also assisted at least 500,000 maize farmers across the country under the CBN's Anchor Borrowers’ Programme in the last six years. And the production of maize has increased.

"From 2015 to date, we had an increment of 12 million tonnes because in 2015, maize production was eight million tonnes; but with the coming of the present administration and the introduction of the programme, maize production has risen to 20 tonnes in 2021."

He reiterated that the programme has gone a long way in ensuring the federal government’s drive to diversify the economy and ensure that agriculture was at the forefront.

Responding, the Emir said banditry and insurgency have negatively affected farming activities in the north-west as well as the north-east regions of the country, saying many farmers have been killed by the hoodlums.

He admonished members of the association not to allow politicians and other people with questionable characters to take over ownership of their activities and ensure that real farmers benefited from their programmes.

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TEN DESPITE AKPANUDOEDEHE’S OPTIMISTIC STATEMENT, BUNI, BELLO RECONSIDER POSITIONS in the state wherein he is contesting for a second term.

So, THISDAY gathered that in line with the deal reached, Niger State Governor, Abubakar Sani Bello and Buni have elected to resign from the committee so that they can face governance in their respective states and allow the CECPC to continue.

However, the fate of the National Secretary of the CECPC, Senator John Akpanudoedehe remains uncertain and a decision on him would be reached at the emergency National Executive Committee (NEC) meeting scheduled for tomorrow which the President will virtually participate in. The meeting's one item agenda is the convention. Although other matters can be introduced under, Any Other Business, AOB. These were the arrangements reached with President Muhammadu Buhari in London.

The convention would hold on March 26 and former Nasarawa Governor, Abdulahi Adamu is expected to emerge new chairman of the party.

After weeks of leadership tussle that plagued the ruling APC, Akpanudoedehe yesterday issued an optimistic statement that gave the impression that Buni had taken back control control as Chairman of the party’s CECPC. Akpanudoedehe commended the Independent National Electoral Commission (INEC) for standing firm in the face of the crisis that almost undid the party, declaring that APC is crisis-free.

Although, Kano State Governor, Dr. Abdullahi Ganduje, yesterday, assured members of APC that the party’s national convention, scheduled for March 26, would go on as planned, saying reconciliation and consensus are already taking place.

Ahead of the convention, the party commenced the sale of nomination forms for various positions on Monday, with the exercise slated to conclude on Friday. It fixed N20 million as cost of nomination form for the position of national chairman.

At the same time, efforts by APC to set aside an order of Justice Bello Kawu of the Abuja High Court, stopping the party's March 26 national convention suffered a setback yesterday due to legal representation.

Buni had travelled out of the country, to Dubai, for medical reasons, when a faction of the APC governors moved against him. The governor of Niger State, Abubakar Bello, assumed the leadership of the party in acting capacity, when Buni was away.

However, while the crisis raged, there was confusion over the fate of Akpanudoedehe, after reports claimed he had resigned, but he later insisted he remained the secretary of the party. He said he remained the secretary until Buhari decided otherwise.

Akpanudoedehe had said, “I have read in social media that I have resigned as Secretary of the APC. I want to state that it is not true, I didn’t resign. If I had resigned, you would have seen my letter of resignation written by me. Someone cannot just say somebody is dead, when he is alive.”

In a dramatic twist, after weeks of uncertainly, Buni’s personal assistant, Mr. Muritala Yakubu, was given access to the national secretariat of the party for the first time. Though Buni was not back in the country.

A meeting between Buhari and of some governors billed to hold in London appeared to have given the CECPC chairman and others a glimmer of hope.

After Buni's aides gained access to their offices, Akpanudoedehe also arrived at the national secretariat of the party around 12:08 pm yesterday.

Addressing journalists at the APC national secretariat in Abuja, Akpanudoedehe said the ruling party was now crisis-free, despite the events of the last few days.

He stated, "The CECPC of the APC under the chairmanship of Governor Mai Mala Buni of Yobe State makes this press release to clarify the events of last week and reassure the membership and stakeholders of the party as well as the Nigerian people, in general, that the governing party is crisis-free, strong and remains united in giving the country the transformative leadership and good governance, which she promised them."

Akpanudoedehe said CECPC had always done its best to steer the affairs of APC in line with the mandate vested in it at inauguration by the National Executive Committee (NEC).

He explained that on February 28, Buni took a long-delayed trip abroad on health grounds, leaving behind a written authorisation for other members of CECPC to continue work in his absence, particularly the day to day management of APC. According to him, "In his absence, sundry activities earlier scheduled for action appeared to develop fresh urgency in order to satisfy the timetable for the 2023 general election released by the Independent National Electoral Commission (INEC), thus, galvanising some within the CECPC to act in their best understanding of both the situation

CASH-STRAPPED FG TO UTILISE PART OF EUROBOND, DOMESTIC BORROWING TO FINANCE FUEL SUBSIDY March, yesterday.

The West African country depends almost entirely on imports to meet its domestic gasoline needs, even though it is a crude oil exporter.

It is also facing shortages after taking delivery of some unusable substandard gasoline.

President Muhammadu Buhari in a letter to parliament in February had requested for extra funds to pay for petrol subsidies and with that the country's budget deficit was expected to four per cent of the country’s Gross Domestic Product (GDP) as the government eyes new domestic borrowing.

The deficit was originally set at 3.42 per cent of GDP. Petrol subsidies cost Nigeria up to $7 billion a year in revenue.

Ahmed said the government was working with lawmakers to boost revenues and that the rise in oil prices means that borrowings will increase more than planned.

Ahmed had lamented that the rise in crude oil price had further widened the country’s budget deficit, pointing out that the federal government was presently in the process of amending the budget to accommodate fuel subsidy.

She had explained, “We are cleaning up our subsidies; we had a setback as we were to remove

subsidy by July this year, but there was a lot of pushbacks. We have elections coming and also because of the hardship that companies and citizens faced due to the COVID and we were told that the timing was not right, so we pulled back.

“But we have been able to quietly implement subsidy in the electricity sector and as it is, as we speak, we don’t have subsidies in the electricity sector.

“Fuel subsidy is a huge problem for us. It has thrown up our deficit much higher than we planned. What is happening to the global oil prices is also going to, perhaps, worsen matters. But the current review we are doing is to say we will hold the subsidy at the level in which it is planned.”

Speaking on how much global prices would affect subsidy payment, Ahmed had said, “We are currently doing a budgetary amendment to accommodate the incremental subsidy as a result of the reversed decision and we want to cap it at that.

“Hopefully, the parliament will agree with us and also at least contain the subsidies; otherwise, the way things are going now, we will not be able to predict where the deficit will be as a result of the fluctuation in the global markets.”

and the leadership dynamics in the committee/party.

"That all such actions were clearly identified at all times as happening in an acting or proxy capacity, and under the auspices of the substantive chairman, Governor Mai Mala Buni, contrary to widespread speculations that the chairman, secretary or some other officials of the CECPC have been removed from office or otherwise replaced."

Akpanudoedehe said the caretaker committee was intact and functional as originally constituted.

He assured that delivering a seamless national convention of APC on March 26 was top priority for the caretaker committee.

He added, "We shall continue to execute such assignments as are legal, pending the return of the chairman who is on his way back to the country and shall resume office on arrival with the full support of all members and other stakeholders.

“We are grateful to INEC for her firm guidance in the entire circumstances."

Akpanudoedehe revealed that the party had engaged a team of senior lawyers to address a court order halting the planned APC national convention.

The ruling party called on the judiciary to give the matter the needed expedient attention in a bid to vacate the court order and allow for the conduct of a transparent and rancour-free national convention.

Akpanudoedehe restated the loyalty of CECPC to APC and the leadership of the party under Buhari.

He also reassured members and citizens that the ruling party was stronger than ever before and poised to extend its winning streak to 2023 and beyond.

But despite the statement by Akpanudoedehe, as stated earlier, in the meeting between Buhari and the governors, it was agreed that Bello and Buni would resign in line with the no victor, no vanquished deal.

But the CECPC would continue and the convention planning committee would organise the convention and a new chairman would emerge. When the chairman emerges, he would take over and that chairman is likely going to be former Nasarawa governor, Abdullahi Adamu.

Convention: Reconciliation, Consensus On-going, Says Ganduje

Meanwhile, Kano State Governor Abdulahi Ganduje assured APC members that the national convention of the party would take place

as planned, saying reconciliation and consensus are already in progress.

Ganduje, who chairs the protocol sub-committee, said the party was preparing for the convention.

The Kano State governor spoke yesterday in Abuja while fielding questions from journalists at the APC national secretariat.

Ganduje said, "We are preparing for the convention. Apart from the selection of about 250 able young men and women, they are undergoing training after which they will proceed to the Eagle Square, the venue of the convention. I will be there myself together with other members of the committee and protocol sub-committee."

Commenting on the court order barring the party from holding the convention, Ganduje said he had no fears, but was optimistic that the convention would hold.

He said, "I have no fears; our convention will hold, inshallah.

Don't worry, we are equal to the task. We are the biggest party in Africa and we have the experience to handle it.

"We are organising the convention, reconciliation is taking place, consensus is taking place, and we believe we will give you the best."

Sale of Forms Ends Friday, March 18

APC fixed N20 million for purchase of nomination form for the national chairmanship position ahead of the convention.

Director of Organisation, Professor Al-Mustapha Medaner, disclosed this in a statement yesterday.

The sale of nomination forms, which started on Monday, March 14, would close on Friday, March 18.

The party said CECPC took the decision on the timetable/schedule of activities for the national convention at its 25th regular meeting held on March 14.

According to the party, aspirants vying for the position of Deputy National Chairmanship would pay N10 million for nomination form, while nomination forms for other positions in the National Working Committee (NWC) of the party would be sold for N5 million each.

The ruling party noted that female aspirants and the physically challenged were to pay 50 per cent of the prescribed fees for the positions they were vying for.

However, as of Tuesday, the forms for the various party positions were yet to be sold.

Bid to Vacate Order Stopping Convention Suffers Setback

Efforts by APC to set aside the court order stopping the party's scheduled national convention suffered a setback due to legal representation of the party.

The order delivered on November 18, 2021 by Justice Bello Kawu of the Federal Capital Territory (FCT) High Court restrained the party from going ahead with the planned convention.

By the order, APC was barred from proceeding with the convention on any date, pending the hearing and determination of a suit against the conduct of the convention.

Following the discovery of the order and being determined to conduct its convention on March 26, APC had swiftly moved to get the court to vacate the order by filing an application to that effect.

However, when the application was called yesterday at the FCT High Court sitting in Kubwa, there was a mild confusion as two lawyers claimed to be representing APC and Buni, the first and second defendants in the suit, respectively.

The Independent National Electoral Commission (INEC) is the third defendant.

Mr. Shuaibu Aruwa and Michael Adoyi, who claimed to be from the chambers of Musa Yakubu, both announced appearance for both APC and Buni.

Aruwa said the first and second defendants had briefed him to take over the matter from Yakubu. But Adoyi, who held brief for Yakubu, countered the senior lawyer, stating that his principal has not been debriefed from the matter.

Responding, Aruwa told the court that they had a copy of the letter of instruction to represent the first and second defendants in the matter. ''After we were briefed, we filed a notice of change of counsel and we informed counsel in court of the changes and there was no complaint," he added.

But Adoyi insisted that his chambers had not been debriefed, adding that the case file is still with him.

He stated, “We were not served with the hearing notice of this matter today and we did not receive any letter debriefing us. The case file is still with me.

"Mai Mala Buni told my principal that the brief is still extant. We are still in this matter representing the first and second respondents.”

Following the confusion over the rightful counsel to the first and second defendants, the court observed that the case could not go

on as scheduled and, subsequently, announced a short adjournment to enable APC put its house in order.

The judge said, “Having heard from counsel, it appears there is disagreement over who the counsel representing the first and second respondents will be.

“I, therefore, order the first and second respondents to write to the court who their counsel is. This matter is hereby adjourned to March 17, 2022.”

Kawu had on November 18, 2021, while ruling in an ex-parte application, halted the APC convention to enable him reach a decision in the originating summons by Honourable Salisu Umoru challenging the planned convention.

In the case with suit number FCT/HC/CV/2958/2021 and motion number FCT/HC/M/9655/21, the plaintiff prayed the court for an Order of interlocutory injunction restraining the first and second defendants and their agents from organising, holding or conducting the national convention of APC in January and February or at any other date either before or after, pending the hearing and determination of the suit.

The judge after granting the order warned that the subject matter of the case was now subjudice and must not be tampered with.

The claimant informed the court that the mere inauguration of sub-committees for the March 26 national convention, when the order of the honourable court was in force, was a demonstration of disdain for the rule of law in the country.

Last week, INEC wrote to APC, insisting that the commission does not recognise Bello’s leadership, and also informing APC that it has not performed one of the requisite requirements for a valid NEC meeting or national convention.

In the letter signed by Secretary to the Commission, Rose Anthony, the attention of APC was drawn to Section 82(1) of the Electoral Act, which provides, “Every registered political party shall give the commission at least 21 days’ notice of any convention, congress, conference or meeting convened for the purpose of ‘merger’ and electing members of its executive committees, other governing bodies or nominating candidates for any of the elective offices specified under this Act.”

APC NEC Meeting Still Holds Thursday

APC insisted it was going ahead Continued on page 51

ATIKU: I DIDN’T RUN AGAINST OBASANJO IN 2003 TO SUSTAIN ZONING POLICY Vice President was probably referring to eight years each for former President Olusegun Obasanjo and President Muhammadu Buhari respectively; five years for former President Goodluck Jonathan and three years for late former president Umaru Musa Yar’Adua.

But analysts have drawn the attention of the former vice president to the fact that the argument for power shift by those from Southern Nigeria was firstly, based on the rotation principle that power must go between North and South and that one region cannot have it for 16 years continuously because the other region would be marginalised. Secondly, on balance, the fact is that the North has had more leaders since 1960 than the South.

However, continuing, Atiku told the BoT members that: "Many of you were members of our government, when all the PDP governors came in 2003 and said I should run and I say no. We have a creed that power should remain in the Southwest, why should I? "Some of those governors then that supported me, some of them went to jail, some of them were kicked out of their offices; we made sure that we kept the policy.

"So, therefore, you cannot

come and try to imply that the PDP has not been following the zoning policy. The many years of PDP government eight years and six years all of them were from the south. So, we should not be stampeded by the opposition party. They have a moral obligation which is inescapable."Atiku told the BoT members.

On the 2007 issue, he said, rather than pick Tinubu, he picked Senator Ben Obi, to ensure a sense of belonging and inclusiveness for the southeast.

It was because of this, he also claimed to have chosen a former governor of Anambra State, Peter Obi, in 2019, when they ran on the PDP platform.

His words: "When I joined the CAN, which my friend Bola set up, he gave me a set of condition for giving me the ticket; that I should make him vice president. I said no, I'm not going to make you Vice President, instead, I took Senator Ben Obi. "When I got the ticket again to run, I took another Obi coincidentally. So, there is absolutely no reason why they should say that there is deliberate attempts to exclude the South East in political participation or power sharing.

"So, I thought I should disabuse your mind and ,of

course, as an enlightened political class, I don't think that for me, as far as this party is concerned, as far as we're concerned, I don't think there's any deliberate policy to exclude anybody in this country.

"Yes, people have not stopped talking about power rotation and zoning, or whatever it is. For sure, in the party, we invented and formulated this zoning policy simply, because we wanted every part of this country to have a sense of belonging and I personally have paid my dues on the issue of zoning.”

On why the PDP should give him another chance, Atiku said, "Now, I wish to call on you to please give me another opportunity to advance all these ideas of our party, well-beautiful ideas, so that we will come further to consolidate democracy, unity and development for our country.

“What I'm saying is based on facts. Take any aspect of our growth whether, it is economy, whether it is healthcare, whether it is agriculture, whether it is education, the landmark achievements we made in 1999 to 2007, have not been matched by any subsequent administration.

"We are now at a crucial moment in this country. Many

of you here, it is either we retire together or we move on together. Somebody said we recorded 12 million votes during the last election. Those are not only my votes, those were our votes. In achieving or recording those 11 million votes, it was all of us and I believe if we work together again, we can surpass those votes.

"As one of the speakers said, I am worried and you should be worried too that, if we do not win, it means we will be in opposition again for the next eight years. By the next eight years, I don't know how many of you would be left in politics and it may even ultimately lead to the death of the party, because people gravitate, particularly in developing countries, towards governments.

"Ordinary people naturally gravitate towards government.

So, this is a very, very crucial and historical moment in history. For our survival, I want you to think about it," he said, explaining why he should be given the ticket.

On his vision, Atiku explained that, "My vision is building bridges across the country. Please join me in building bridges across this country so that every part of this country will have a sense of belonging.

WEDNESDAY MARCH 16, 2022 • T H I S D AY

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NEWS REVIEW

Umahi's Sacking: Conflicting Judgments and Quest to Save Nigeria's Democracy

Alex Enumah

T

he Abuja Division of the Federal High Court last Tuesday ordered the Governor of Ebonyi State, Chief David Umahi and his Deputy, Kelechi Igwe to immediately vacate office on account of their defection from the People's Democratic Party (PDP), whose platform they emerged as Governor and Deputy Governor respectively in 2019.

Justice Inyang Ekwo who made the order held that the governor and his deputy's continued stay in office after defecting to the All Progressives Congress (APC) in 2020 was illegal, null and unconstitutional.

Justice Ekwo hinged his decision on the grounds that since it is political parties that sponsor candidates in an election, it follows that the votes won by a candidate in an election as well as the victory belong to the political party on whose platform the candidate contested the election.

He also noted that such votes won by a candidate with a political party cannot be transferred to another.

“Election is won on the ballots and constitutionally, ballots are sacrosanct and are ascribed to the party to whom the electorate voted. There is no constitutional provision that makes the ballot transferrable from one political party to another.

“Where the electorate express their trust in an election by giving their votes to a political party, there is no political machination or manipulation that would allow a party to short-change the will of the electorate.

“Let me put it this way, a Governor or Deputy Governor is dressed in the robes of the political party by whose vote they occupy the office. If a Governor or Deputy Governor defects from the political party by whose vote he got into office by joining another political party, such a person must be seen to have jettisoned not just the political party, but the votes of the party as well, under our law,” Justice Ekwo said.

He held that flowing from the above, Umahi and his deputy cannot continue to occupy office after dumping the party on whose platform they came into office.

Justice Ekwo subsequently ordered Umahi and his deputy to vacate office immediately, having decamped from the party on whose platform they won election as governor and deputy.

In a similar suit filed by the PDP, the court also ordered the 16 Ebonyi Lawmakers to vacate their seats having dumped the PDP that brought them to office.

He subsequently ordered the plaintiff (PDP) to present the names of its candidates to INEC for the post of Governor and Deputy Governor as well as for the affected 16 lawmakers of the Ebonyi State House of Assembly.

In addition, Justice Ekwo ordered INEC to stop recognising Umahi and Igwe as Governor and Deputy Governor of Ebonyi State respectively.

He also made a similar order in respect of the affected 16 lawmakers.

Umahi and Igwe had contested and won the 2019 governorship election on the platform of the PDP but decided to dump the party for the APC in September 2020.

Their action had incurred the wrath of the PDP which dragged them to court to challenge their continued stay in office, having left the PDP that brought them to power.

However, the judgment seems to have aroused some measure of controversy and confusion because the Constitution has no provision on defection for Governors nor has it made it an offence for a Governor to defect from one party to another.

Sections 188 and 189 of the 1999 Constitution, provide that a Governor and his Deputy can only be removed from office through impeachment by two-thirds majority of the State House of Assembly over acts of "gross misconduct" established against them by a panel set up by the House to investigate such allegations.

Similarly, Section 308 of the 1999 Constitution provides for the immunity of governors while in office.

In addressing the above, Justice Ekwo said: “Though no similar provision is made in respect of a Governor or Deputy Governor, such a lacuna is not to be celebrated or even mischievously flaunted as failure of a remedy for situations of such nature.

“It is not an assurance that any person, who occupies an elected office, would defect from the political party that puts him on the seat to a party that did not win the election, and nothing would happen.

“It would be constitutionally wrong for a person, who was sponsored by one political party, to defect and become a member of another political party before the expiration of the period he was elected and then continue with the voters’ mandate given to his former party. This is the situation here.

“It needs also to be said that the continued occupation

Umahi of the 3rd and 4th defendants as Governor and Deputy Governor of Ebonyi State is in breach of the provision of Section 179 (2) (a) and (b) of the 1999 Constitution (as amended) as there was no election held in the State by virtue of which they emerged duly elected as candidates of the 2nd defendant (APC) with majority of votes cast at the election and they had not less than one-quarter of the votes cast at the election in each of at least two-thirds of all the local government areas of the state,” he said.

The defendants in arguing their case had cited two recent judgments of the trial court which held that there is no known law that orders the removal of a governor on account of his defection from one political party to another.

In the suit filed by some PDP chieftains in Zamfara seeking the removal of Governor Matawalle as Governor of Zamfara State, Justice Aminu Aliyu of the Federal High Court, Gusau dismissed the case of the plaintiffs for lacking in merit.

The court in dismissing the case of the plaintiffs ruled that both the constitution of the PDP and the 1999 Constitution do not, in any way, prohibit any person from joining any association or political party.

Aliyu also premised his decision on the facts that it is only an election tribunal or State House of Assembly that could remove a governor from office. The ruling was delivered on February 8, 2022.

Meanwhile, on March 1, 2022, Justice Henry Njoku, of a High Court of Ebonyi State in Abakaliki also dismissed a suit seeking to remove Umahi and his deputy on account of their defection to the APC. The judge in dismissing the suit also slammed a N500,000 cost in favour of Umahi and his deputy.

The plaintiff, Senator Sunny Ogbuorji had demanded that the governor and his deputy vacate office for the second runner up, having defected from his former party, PDP. Among the issue for determination was whether Umahi and his deputy, having defected to APC, could still continue to be governor and deputy, having regards to the provisions of the constitution and the Electoral Act as relied upon by the plaintiff and that having come second in the governorship election, ought to be sworn in.

Responding, the defendants in their argument canvassed that the plaintiff was relying on the pre-election/election qualification issues, arguing that there was no provision in the constitution that provided for defection as one of the grounds for the vacation or removal of a person as governor

or as deputy governor.

In his judgment, Njoku, citing Section 188 (1) of the 1999 Constitution, noted that the defendant (Umahi) has not offended any provision of the Constitution or the Electoral Act in his defection to APC. The Court further held that having regard to section 308 of the Constitution, it is even wrong to institute criminal or civil proceedings against the office of the Governor. The Court therefore dismissed the suit in its entirety.

However, reacting to this latest judgment outside the court, Ebonyi State Commissioner for Information and State Orientation, Mr Uchenna Orji described it as a travesty of justice and assured that they would appeal the decision.

In faulting the judgment, Orji stated that the judge relied on provisions of the Electoral Act dealing with pre-election and election matters.

"The Court of Appeal decision in Amaechi shows that today's judgment was a clear case of an error in law and we must challenge it at the appellate court", he said.

He further disclosed that a court of coordinate jurisdiction in Ebonyi State had made a pronouncement on this matter, saying that the Constitution has no provision on defection for Governors nor has it made it an offence for a Governor to defect from one party to another.

Ekwo however noted that the decision of the two courts of coordinate jurisdiction is not binding as the facts of the case are not the same.

He clarified that the crux of the matter was the defection of Umahi and Igwe from the PDP to the APC, adding that the averments of the 3rd and 4th defendants did not address the issue of defection rightly and frontally but rather resorted to general denial to affidavit evidence.

Justice Ekwo said that the depositions of the 3rd and 4th Defendants in their counter affidavit were "evasive and insufficient" to competently challenge the plaintiff's originating process.

He went further to state that the "Immunity Clause" in section 308 of the Constitution is not absolute.

"Section 308 is a veritable constitutional shield" and not for political reasons.

According to the judge, the immunity clause was provided to protect a governor against distraction while in office and can be tried once out of office for any offence he might have committed while in office.

Ekwo stressed that the issue brought before the court is such that it cannot be deferred till the end of the governor’s tenure, adding that the issue of defection was not an act done as

part of the official duties of the governor.

In addition, the judge held that Umahi and Igwe did not controvert the deposition that total votes scored in an election belong to a political party.

He said evidence abound that the 2nd defendant (APC) contested the Ebonyi State Governorship election held in March 2019, with its own candidates.

"It can be noted that the Constitution does not deal with the issue of defection lightly" the court stated.

"The 3rd and 4th Defendants cannot transfer the votes and victory of the plaintiff on March 9, 2019, to the APC. "Office of the Governor and Deputy Governor of Ebonyi State belong to the PDP. "The option for Umahi and Igwe is to vacate office and wait for the next election to contest under the platform of their “new party", Ekwo held.

The court said the action of the APC, Umahi and his deputy was aimed at dismantling the 1999 Constitution.

Consequently, the court declared that under the democratic system operated in Nigeria, the plaintiff won the majority of votes during the election and is entitled to enjoy same till end of tenure of office for which the election was made.

Recall that the Supreme Court in the case of former Governor of Rivers State, Rotimi Amaechi had in 2007 held that the votes cast in an election belong to the party and not the candidate.

Amaechi had contested and won the ticket of the PDP for the 2007 governorship poll in Rivers State but his party had substituted his name with that of Celestine Omehia, who contested and won the 2007 governorship election in Rivers State.

However, the apex court while delivering judgment on the pre-election matter of unlawful substitution case, declared Amaechi who did not contest the poll as winner of the governorship poll and ordered the Independent National Electoral Commission (INEC) to withdraw the certificate of return earlier issued to Omehia as governor and issue a fresh one to Amaechi.

Also in 2007, the Supreme Court in a judgment in the suit between the Attorney General of the Federation and Atiku Abubakar, held that Atiku who was then the Vice President cannot be removed from office on account of his defection from the then ruling PDP to the Action Congress (AC).

Then President Olusegun Obasanjo had attempted to declare Atiku's seat as VP vacant following his defection to the AC, but the courts held that the president's action was illegal, null and unconstitutional.

In the lead judgment delivered by Justice Walter Onnoghen, the apex court held that there is no express provision of the vacation of office of the vice president upon defection from his sponsoring political party to a rival party.

According to the judgment, the vice president can only resign from office as per the provisions of section 306 of the Constitution.

Other provisions relating to cessation of office and removal from office, the apex court noted is by impeachment as stipulated by Sections 143 and 144 of the Constitution.

The apex court subsequently affirmed the judgment of the Court of Appeal, which held that, "the purported declaration by the President of the Federal Republic of Nigeria of the office of the plaintiff as the Vice President of the Federal Republic of Nigeria as vacant was unconstitutional and of no effect.

Recall also that the late Abubakar Audu and his running mate, James Faleke, were clearly in the lead in results announced in the 2015 governorship election in Kogi State, when Audu reportedly slumped and died.

Because the final results had not been announced and Audu declared winner of the election, his running mate could not benefit from the lead.

It was the position of the law that the party who owns the vote cast so far by the electorate in Kogi, was at liberty to nominate any person to enjoy the votes already won by the late Audu.

Accordingly, Yahaya Bello was nominated as the standard-bearer to conclude the election on behalf of the APC. With the level of inconsistency and the seemingly contradictions by courts of coordinate jurisdiction in the last one month, the nullification of Umahi’s continued stay in office is expected to ultimately get to the apex court for resolution.

However, the Supreme Court on its part has also been enmeshed in conflicting judgments. But as the final court in the land, it still behoves it to give a verdict that will not only cure the discrepancies that are brewing in the polity as the 2023 general election draws near but give sound judgments that will stand the test of time and equally deepen democracy in the country.

Justice Ekwo's judgment appears to have set the ball rolling to sanitise the nation's battered democracy. The damage done by politicians to the nation's democratic values will take a radical new order to fix.

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MIDWEEKPOLITICS

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

Yahaya Bello to Former PGF DG: You are Frustrated

Governor Yahaya Bello of Kogi State has drawn a battle line against a former Director General of the Progressives Governors Forum, Dr. Salihu Lukman, writes Nseobong Okon-Ekong

K

ogi State Government has tonguelashed a former Director-General of the Progressive Governors’ Forum, Salihu Moh. Lukman, over his outbursts against the state governor and the Governor Mai Mala Buni-led APC Caretaker Extraordinary Convention Planning Committee (CECPC).

Lukman had accused the party leadership of extorting aspirants ahead of the March 26 National Convention and also asked that Bello be prevented from getting the presidential ticket of the party. The former PGF DG also alleged that Bello had yet to commence payment of N30,000 minimum wage as announced and that workers were earning 25 per cent of their salaries.

Reacting in a statement issued on Tuesday and signed by the Commissioner for Information and Communications, Kingsley Fanwo, the state government said Lukman’s allegations were baseless, adding that he should not “allow the frustration of his unceremonious and embarrassing exit as the Director-General of PGF take possession of his reasoning to the extent of disparaging party leaders.”

Similarly, the Chairman of the Nigeria Labour Congress in Kogi State, Comrade Onu Edoka, has confirmed that the state government has embarked on the payment of N30,000 minimum wage to workers in the state, saying the Governor Yahaya Bello administration has not been owing salaries or paying 25 per cent of salaries, contrary to Lukman and other naysayers’ claims.

Edoka, in an interview with the media on Tuesday, said the minimum wage was only approved for the state’s civil servants on level 1 to 6, adding that “it is not true that workers earn 25 per cent of their salaries.”

Fanwo, in his statement, said, “The attention of the Kogi State Government has been drawn to the disparaging statements credited to a former employee of the Progressive Governors’ Forum (PGF), Salihu Moh. Lukman concerning the popular presidential ambition of Governor Yahaya Bello.

“It is unfortunate that Lukman could allow the frustration of his unceremonious and embarrassing exit as the Director-General of PGF take

Bello

Salihu

possession of his reasoning to the extent of accusing His Excellency, Mai Mala Buni’s APC Caretaker Extraordinary Convention Planning Committee (CECPC) of extorting aspirants ahead of the March 26 National Convention.

“It’s more saddening that Lukman decided to expose his main fear when he unwittingly revealed that the candidate to beat in the 2023 APC primary was my principal, His Excellency, Alhaji Yahaya Bello. To the amateur politician, the unfounded allegations against the administration of Governor Yahaya Bello should sway the minds of Nigerians or party leaders.

“But asking the party to prevent Yahaya Bello, a leading presidential hopeful, from getting the party’s ticket, already stamps the fact that all eyes are on him to take the party to victory in the 2023 general election, which everyone knows will be keenly contested.

“For the records, Lukman’s anti-

party escapades while at the secretariat of the Progressive Governors’ Forum did not only cost him his job, but also cast more ridicule on his already battered image.

“We are, therefore, not surprised at his recent disgraceful outburst against key party leaders.

He has proved himself to be a mole in APC with a mission to undermine it and ultimately hand advantage to the Peoples Democratic Party (PDP) in 2023.

“We, however, want to assure him that no one has the monopoly of caustic statements.

Governor Yahaya Bello has only refrained from dignifying detractors with response, venomfor-venom, because of his sound upbringing.

But if Lukman should allow frustration to take a total grip of his senses, then, he should be ready to face the consequences of his actions as we will not leave any stone unturned to seek redress legally. We will not watch him continue to rubbish the image of our dear party in the manner he has been doing.

“For the avoidance of doubt, Governor Yahaya Bello remains a key figure holding the party together and he has the support and endorsement of overwhelming majority of party faithful to succeed President Muhammadu Buhari. Lukman

should wake up to the fact that his campaign of calumny will not wane the love APC and Nigerians have for Governor Bello.

“We find it needful to inform the public that the historic and audacious staff verification exercise undertaken by the Yahaya Bello Administration at inception did not only paint the payroll in the colours of integrity and transparency, but also ensured efficiency in the service.

“Many unintended beneficiaries were removed and the state immediately ensured that 100% salaries were paid to the civil servants.

“It is instructive to note that the staff verification exercise was carried out with the full cooperation and deep involvement of labour unions who have always cooperated with the state government in its bid to reposition and strengthen the service.

“Nigerians are adequately informed of the meagre allocation shared during the last FAAC meeting. Many states have yet to pay their February salary.

“Internally generated revenue wasn’t at the standard our administration had set as a result of economic downturn, owing to the energy crisis that hit the nation in February.

But as an administration that is committed to the welfare of the civil servants, the Kogi State Government sat with labour leaders and agreed to pay 75%.

“It has since been paid with the full implementation of the minimum wage. This is against the lies peddled by Lukman that Kogi workers received 25 percentage of their old salaries.

“Only civil servants on grade level 7 and above received 75%. Civil servants on Grade Level 1 to 6 received 100% salary with the 30,000 minimum wage. The Governor and all political office holders also received 75% in solidarity with our workforce. To us, this is responsible and responsive leadership.”

“We want to reiterate the commitment of the administration of Governor Yahaya Bello’s administration towards the welfare of the workforce and that no amount of lies sponsored by Lukman will prevent Governor Bello from answering the popular call by the Nigerian masses to serve the nation in the presidential capacity,” he added.

Can Senator Sani Musa Win this Race?

From being an underdog in the race for the national chairmanship of the All Progressives Congress, the Senator representing Niger East in the National Assembly, Sani Musa has shot ahead of other contestants with increasing acceptance from critical stakeholders, writes Nseobong Okon-Ekong

A

s stakeholders of the All Progressives Congress (APC) appear set to break the cycle of former governors from leading the party, it is clear that Senator Sani Musa (Niger East) is ready for the job going by his commitment, passion, and leveraging all his political and social capital over the years on the affairs of the ruling party. All eyes are on President Muhammadu Buhari as he convenes a meeting of all aspirants to agree on a consensus, as his rumoured endorsement of Senator Abdullahi Adamu from Nasarawa State has become a very bad and stale news.

It has been an interesting journey for Musa who was barely given a fighting chance on December 10, 2021, when he formally announced his intention to run for the national chairmanship of the APC. He was considered a Lilliputian entering into a contest with giants. Some of his associates wondered why he wanted to leave the secure office of a senator to expend his time, energy and money on a venture he wasn’t sure of.

However, two weeks to the party’s national convention, Musa, who chairs the Senate Services Committee, has turned out to be the dark horse in the race and the right man for the plum seat with massive support base ahead of the shadow poll.

Hanging his mandate on visionary, pacesetting and technologically-driven leadership, Musa, apparently attracted many eyes to himself when he promised to re-engineer the APC system if elected.

Aptly labeled as a crowded race of heavy-

Musa weight politicians, the push for the national chairmanship seat of the ruling party has experienced many twists especially as it reaches the business end of decision taking.

Jostlig for the same position along with Senator Musa, are other party chieftains that have indicated an interest in the APC top job like former governor of Borno State, Senator Ali-Modu Sheriff; Mr Sylvester Moniedafe from Adamawa State; former governor of Gombe State, Danjuma Goje.

Others are former Deputy National Chairman of the defunct Congress for Progressive Change (CPC), Malam Saliu Mustapha; former governor of Nasarawa State, Senator Tanko Al Makura; Senator Abdulahi Adamu,and Minister of Special Duties and Inter-Governmental Affairs, George Akume; former governor of Zamfara and former Chairman of the Nigeria Governors’ Forum (NGF), Alhaji Abdulaziz Yari.

Unfazed by the quality of contestants, Senator Musa’s dexterity, leadership strength, and progressive credential were quickly spotted by all and sundry, including governors and the presidency.

Little wonder, the major blocs and arms of the APC are rooting for his emergence especially after the chairmanship slot was zoned to his geo-politico zone, North-central.

The thinking, among stakeholders of the APC, is that, Senator Musa, as the next national chairman of the party, besides preparing the party for the 2023 general election, possesses the grit, composure, and experience to deal with enormous issues he will inherit from the outgoing and past leadership and ensure that the party truly live up to its “progressives” credentials beyond just the name.

While doubts about the March 26 national convention, primarily fueled by intrigues and ambitions, have been largely laid to rest with the flurry of activities done by the CECPC under Governor Bello of Niger State, it is cheering that majority of the 22 state governors of the APC are in sync with the convention date.

After taking over the Extraordinary Convention Planning Committee (CECPC) leadership in an acting capacity from Governor Mai Mala Buni of Yobe on Monday, Governor Abubakar Bello of Niger State appears to have steadied the ship of the ruling party in preparation for the March 26 national convention.

Among other proactive steps taken by the Niger governor to pave the way for smooth conduct of transparent convention of the party was the administering of oath office on the state chairmen of the party, pruning of the sub-committee lists, and issuing a notice of the party’s next National Executive Council, among others.

Expressing his heartfelt congratulations to Bello, who is his state governor, Senator Musa, while on a solidarity visit to the CECPC acting chairman in Abuja, expressed his support and wished him a successful assignment.

Senator Musa, who already has in his kitty the backing of his state chapter of the party, the lawmaker’s bid has also been endorsed by most APC senators, who are rooting for one of their own to assume the leadership of the party.

Arguably, the Niger East senator appears to be the aspirant with the highest number of consultations to various stakeholders across the country, and from feedback, he has the blessings of the majority.

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

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2023 CAMPAIGN WATCH SAMUEL AJAYI

Vice President Yemi Osinbajo

E-mail: yemielegance@gmail.com

Mobile: 08033083367

Governor Sanwo-Olu of Lagos State

Amid Uncertainties, Stalemate in Parties Marks Up As a political analyst told THISDAY earlier in the week, the All Progressives Congress (APC), is holding the political space to ransom as uncertainties that have dogged the jinxed national convention of the party, have refused to douse four months to two years since the removal of the erstwhile National Chairman of the party and former governor of Edo State, Adams Oshiomhole.

F

irst, it was a palace coup that removed the chairman of the Caretaker and Convention Planning Committee of the party and current governor of Yobe State, Malam Mai Buni. Replacing him, so to say, was the governor of Niger State, Abubakar Sani Bello, who even claimed he was not aware that Buni was the caretaker chairman of the party. Shortly, apparently knowing that those, who pushed them out would not get away with it, the National Secretary of the party, Senator John James Akpanudoedehe, also resigned.

When the new helmsmen in the saddle wrote to INEC intimating the electoral commission of their proposed March 26 convention, the commission wrote back that it could not act on the letter since it was not signed by the National Secretary recognised by the Commission. Now, it is back to square one for the party.

The opposition Peoples Democratic Party, PDP, has been quiet as its presidential hopefuls have been busy consulting while some of them will officially declare any moment from now. These include former Senate President, Bukola Saraki, and former Vice-President Atiku Abubakar.

But it has been a huge disquiet between Governor Nyesom Wike of Rivers State and Godwin Obaseki of Edo State as the duo have been involved in war of words over composition of the party in Edo State as Wike brands Obaseki an “ingrate”, while Obaseki on the other hand claimed to have a history of dealing with bullies. The heat is on...

WHEN WILL OSINBAJO MUSTER COURAGE? Earlier in the week, some national dailies reported that Vice-President Yemi Osinbajo, had officially informed his principal, President

Biodun Oyebanji Muhammadu Buhari, of his intention to contest the 2023 presidential election, on the platform of the ruling APC. The reports claimed the president gave his blessings without committing to whether he would support or endorse him.

However, spokesman of the VicePresident, Laolu Akande, has come out to deny the report, saying his principal was committed to his present assignment of assisting the president to deliver on their current mandate.

Debunking the reports, Akande said: “As it stands, it is not clear whether or not the Vice-President will throw his hat into the ring.”

Last month, Akande also denied reports saying Osinbajo was set to officially announce his presidential ambition after the APC convention.

This was February 7th when Akande claimed reports of Osinbajo planning to announce his presidential bid were false. He then said: “I have seen ‘news’

that the VP will announce presidential bid after APC convention. Anyone reading the story will know it is all false and speculative snippets.”

From all indications, it seems the VicePresident is still reading the political barometer and not convinced that time is ripe enough for him announce his intention to contest the 2023 presidential election. Ironically, groups and associations rooting for the vice-president keep increasing in number every day. In fact, some of these associations have come out to counter Akande at different times and even claimed the vice-president is not speaking the truth whenever he denies his presidential ambition.

Secondly, many have been asking, who is bankrolling these groups. Just on Monday this week, THISDAY obtained a video promo for the Vice-President extolling his virtues and claiming he is the right person to succeed President Buhari come next year.

Beyond this, Osinbajo has been very visible in functions, both social and cultural lately. He was at Ibadan last week for the coronation of the new Olubadan, Oba Lekan Balogun. Before then, he was at the dinner of the Igbobi College Old Boys Association.

He was also at the passing out of the Air Force College, Yola, just to mention a few.

In fact, Osinbajo spends more time outside Abuja than in the seat of power. In all these, political watchers believe the former Lagos State Commissioner for Justice and Attorney-General is selling his candidacy with style. But he has not been bold enough to officially and categorically say he would contest. What is he afraid of?

WILL AMAECHI STAND TO BE COUNTED? Transportation Minister and former governor of Rivers State, Rotimi Amaechi, was recently turbaned the Dan Amar of Daura, the hometown of President Muhammadu

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2023 CAMPAIGN WATCH

Staying Close With 2023

Honourable Minister of Transportation, Rt. Hon. Chibuike Amaechi being turban as the Dan Amanar Daura “The Trusted Son of Daura“… recently announce his second term bid?

Former Ekiti State Governor, Ayodele Fayose (left) endorsed Bisi Kolawole Buhari. The award, the Emirate Council said, was in recognition of Amaechi’s achievements in the transport sector. The Emir of Daura, Umar Faruk Umar, said Amaechi had done so much for the town.

His words: “I would like to remind you that the good things the minister brought to this emirate are countless but we have seen the University of Transport Technology that he has sited here; we have seen the railway that has been sited here to Niger Republic.”

However, debunking the rumours that Amaechi might have bought the title or given the town money, the monarch had this to say: “If I turban anyone, it is not because he gave us money or we want something from that person, we turban people irrespective of their religion or tribe. You are living witnesses that we have turbaned a lot of people in this country and even beyond.

You know that we don’t do what we do for monetary gain.

“Are we not supposed to appreciate what he (Amaechi) has done? So, if anybody says it’s because of money, it is their own business. I know that I did this because of what he has done for us in Daura. I don’t give people tittles, because of money, no matter how rich you are. It’s a tradition here to reward those who have shown great love and commitment to our people.”

While the monarch might have had reasons to debunk the malicious rumours, what he could not deny was that posters announcing Amaechi’s purported presidential ambition flooded the streets of Daura on the day of the turbaning. In fact, many political watchers were of the opinion that the title was a

precursor to Amaechi announcing his presidential bid and an endorsement by the Northern Establishment.

And may be, he is more than qualified.

If the rumours of the ruling APC zoning its presidential ticket to the South are anything to go by, that is a plus for the former Speaker of Rivers State House of Assembly. Secondly, he has Igbo ancestry and perhaps, experienced enough in public service. However, all these will count to nothing unless the astute politician himself stands up and throws his hat into the ring. Hence the question: will Amaechi stand up?

WHEN WILL SANWOOLU GET THE ‘NOD’?

Since his emergence from nowhere in 2019 and his subsequent election as the governor of Lagos State, Babajide Sanwo-Olu, has been a political good boy and has been extremely loyal to the political juggernaut that made his emergence possible in 2019. And that is the Tinubu political machine, the generator of the hurricane that denied former Governor Akinwunmi Ambode second term.

Since he became governor, Sanwo-Olu has never taken any step that will upset the political balance in the state nor shown that he was the one in charge of the state APC political machinery or structure. In short, the governor has been a good political godson to a former governor of the state and National Leader of the APC, Senator Bola Tinubu.

However, not a few are worried that the

governor is yet to officially announce his second term ambition. This has sparked the rumours that the governor is yet to get the nod from his godfather, Tinubu, to go ahead with his second term plans.

There have also been rumours that his deputy, Toyin Hamzat, among many others, is being prepared to take over from him. This cannot be independently verified, but the speculation is rife.

However, many are of the opinion that Sanwo-Olu should have started preparations for his second term.

Does he deserve to have his mandate renewed? Many will say he does. The governor has done quite well in areas of infrastructure and also security in the state and has managed the political balance very well, including delivering sound leadership.

A source also told THISDAY that Tinubu will not want another Ambode situation in hishands in 2023 due to his own foray into the presidential race.

“Another second term or no second term for Sanwo-Olu is one distraction Tinubu would not want,” the source told THISDAY, adding: “The Ambode issue went like that because Abuja also needed Tinubu then for Buhari’s second term. There is nothing like that this time.

“Also, dropping SanwoOlu will put a question mark on his own leadership recruitment strategy. Above all, the Sanwo-Olu guy has also done enough to merit another shot at Alausa.” But while these points are almost not debatable, the question remains: when will SanwoOlu get the green light to

EKITI 2022: FOR APC, PDP, IT’S LULL AFTER TURBULENT PRIMARIES The two leading parties in Ekiti State, ruling All Progressives Congress (APC), and the opposition Peoples Democratic Party (PDP), seem to be catching some breath after both parties had what could be described as very acrimonious primaries.

For the APC, the erstwhile Secretary to the State Government, Biodun Oyebanji, picked the ticket, but other aspirants, led by former Lagos State Commissioner for Information and Strategy and current Senator representing Ekiti Central Senatorial District, Opeyemi Bamidele, condemned the process that produced Oyebanji in very strong terms. Others like Kayode Ojo and Wale Fapohunda too were also very aggrieved.

While Bamidele had said he won’t be leaving the party neither would he be going to court, same could not be said of Ojoand others.

The leadership of the party in the state is though aware of Ojo’s stand, sources close to the party in the state told THISDAY that the likes of Bamidele and Fapohunda, have not shown enough commitment to the Oyebanji project.

“They are yet to instruct their supporters to start working for the candidate and this is worrying. However, before campaign starts fully, these issues would have been trashed by party leaders so that all can come together and ensure that APC wins again in June. I am sure this will be achieved.

We are one family.”

As for the opposition PDP, the first casualty of the primary election, which many believed former Governor Ayo Fayose, worked in favour of his political protégé, Bisi Kolawole, was the defection of former Governor Segun Oni to the Social Democratic Party (SDP). And this is said to be giving the PDP sleepless nights in the state even if its leaders were claiming in the public that there is nothing to worry about. In hushed tones, within the PDP, many admit that Oni remains a popular candidate in the state, especially, among civil servants and teachers. The only snag is whether he would be able to do enough mobilisation for his new platform, SDP, before the elections.

Another issue the PDP had to deal with was choice of deputy governor. One Mrs. Funmilayo Ogun, a former commissioner during the administration of Governor Fayose, was nominated on February 23 this year. But even before the national secretariat of the party could do anything on the nomination, Mrs. Ogun rejected the nomination for “personal reasons”.

Sources, however, told THISDAY that Ogun was roundly rejected by party leaders in the state, who saw her as another Fayose stooge. Finally, the party settled for Kolapo Olugbenga Kolade, who has since been ratified by both the party and INEC. Campaigns, according to schedule available to THISDAY, will start next month.

By then, the two parties would have caught enough breath after a turbulent three months.

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BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

M A R C H

S & P INDEX

1 5 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

14.00%

CALL

4%

INDEX LEVEL

565.29%

1/4 TO DATE

6.06%

N412.08/ 1 US DOLLAR*

OVERNIGHT

14.50%

1-MONTH

6%

1-DAY

–0.11%

YEAR TO DATE

– 15.66%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.41%

Dangote Cement, MTN Nigeria Lead 14 Others in N589.6bn Tax to FIRS, Others

Kayode Tokede Results released so far by 17 companies listed on the Nigerian Exchange Limited (NGX) has revealed that they paid a total of N589.6 billion as tax in 2021 to the Federal Inland Revenue Service (FIRS), other tax authorities in Nigeria and African countries where they operate.

The amount paid last year represents an increase of 39 per cent over the N371.56 billion reported by these 17 companies in 2020.

Nigeria’s cement manufacturing companies, banks, petroleum marketing companies among others are

top players in other African countries.

THISDAY analysis of the results showed that Dangote Cement Plc, followed by MTN Communication Nigeria paid the highest tax to revenuegenerating agencies where they operate.

Ecobank Transnational Incorporated (ETI) toped banking sector in tax paid to government revenue agencies in over 33 countries where it operates in Africa, among other jurisdictions.

Companies are required by law to remit tax income to state, federal government agencies, among other agencies where they operate.

Aside from paying the statutory rate of 30 per cent of total profit as the company’s income tax, companies operating in Nigeria are meant to pay Tertiary Education Tax, National Information Technology Development Agency (NITDA) Tax and Nigeria Police Trust Fund Levy.

The tertiary education tax is imposed on every Nigerian company at the rate of 2.5 per cent of the assessable profit for each year of assessment, while the Act that established the Nigeria Police Trust Fund was meant to receive funds from a levy of 0.005 per cent of the net profit of companies operating a business in Nigeria and other

various sources, which will be utilized for the training and welfare of personnel of the Nigeria Police Force.

THISDAY analysis showed that Dangote Cement reported 79 per cent increase in tax expenses to N173.93 billion in 2021 from N78.86 billion reported in 2020. Notably, Dangote Sugar’s tax paid in 2021 dropped by 24.5 per cent to N11.97 billion from N15.85 billion reported in 2020.

The cement manufacturing company noted that it has sustained its position as a leading contributor to Nigeria’s economy with a tax charge of N173.93 billion for the financial year ended 31st December 2021.

According to the cement group’s audited results released on the portal of the NGX, the tax charge represents an increase of 78.7 per cent over N97.24 billion in 2020.

The cement company’s financial result for the review year indicated that Group sales volume stood at 29.3Mt, with Nigeria accounting for 18.61Mt while operations in other countries did 10.86Mt. Group revenue was N1.38trillion in 2021, made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, in contrast to the group revenue of N1.03 trillion in 2020 which constituted of N719.95 billion from Nigeria

and N318.68 billion from other African operations.

The Chief Executive Officer, Dangote Cement, Michel Puchercos had stated that: “I am delighted to report that Dangote Cement experienced its strongest year across all line items, with a record PAT of N364.4 billion up 32 per cent.”

However, MTN Nigeria, tax paid in 2021 grew by 47.4 per cent to N138.03billion in 2021 from N93.66billion in 2020.

Primary contributors to MTN Nigeria’s tax expenses was 42 per cent increase in company income tax to N128.65billion in 2021 from N90.78billion in Continued on page 22

14 Companies Raised N103.34bn through CPs in 2 Months Kayode Tokede As companies needed short-term capital to stay afloat, data obtained

by THISDAY has revealed that 14 companies raised N103.34 billion worth of Commercial Paper (CPs) on FMDQ Exchange platform between January and February of 2022.

Data obtained by THISDAY from FMDQ Exchange revealed that five

companies were quoted in January and raised CP worth N5.52billion, while 14 in February quoted a total value of CPs worth N97.82billion.

The Exchange on Monday hinted that corporate institutions have continued to explore alternative financing options with the admission of 21 CPs valued at over N128.25 billion thus far in 2022.

CP is a short-term debt financing

securities (no longer than 270 days in tenor) consisting of unsecured and discounted promissory notes issued by large corporations with good credit ratings, which can be readily traded.

Due to its relatively short maturity period, CP is referred to as low-risk investments, and offering competitive returns to investors in compensation for the issuer’s credit risk.

Among the noted CPs in the months under review was FMDQ Exchange on January 14, 2022 approving for quotation, the MeCure Industries Limited N0.49 billion Series 1 and N1.44 billion Series 2 CPs under its N20.00 billion CP Issuance Programme.

FMDQ Exchange had noted that an active CP market provides companies with the opportunity to

raise capital to meet their short-term funding obligations.

They explained that the instrument typically does not create a lien on the company’s assets, and this creates room for enhanced operational flexibility.

The Managing Director, Highcap Securities Limited, Mr. David Adnori attributed trudge in corporate raising CPs through FMDQ to urgent short-

term capital obligations.

He noted CPs instrument not on the NGX and a money market instrument.

Speaking on the interest rate, he said: “Not that the interest rate on CP is low, just that these companies need short-term fund to meet their daily business obligations. Some Continued on page 22

M A R K E T D ATA A S AT F R I D AY, M A R C H 1 5 , 2 0 2 2 BILLS

BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027

Price

Yield

106.80 6.49 112.34 7.52 113.86 8.29 108.16 9.91 124.59 9.96

Change Updated Time (%) 4, -0.01 March 2022 4, -0.01 March 2022 March 4, 0.00 2022 March 4, 0.03 2022 4, -0.09 March 2022

OTC F X F U T U R E S

C Ps

MATURITY

Discount

Yield Change Updated Time (%)

NTB 28-Apr22 NTB 12May-22 NTB 9-Jun22 NTB 14-Jul22

3.07

3.08

0.00

March 4, 2022

3.13

3.14

0.00

March 4, 2022

3.24

3.27

0.00

March 4, 2022

3.38

3.43

0.00

March 4, 2022

NTB 11Aug-22

3.50

3.55

0.00

March 4, 2022

MATURITY

Discount Yield

Change Updated Time (%)

UNCP CP VI 2-MAY-22 NEVE CP I 24-MAY-22 DANC CP II 25-MAY-22 TRBH CP V 26-JUL-22 FSDH CP VI 1-AUG-22

8.78

8.91

0.00

March 4, 2022

16.31

16.92 0.01

March 4, 2022

8.69

8.86

0.01

March 4, 2022

11.45

11.99 0.00

March 4, 2022

8.15

8.43

March 4, 2022

0.00

CONTRACT TENOR Contract (MONTH) NGUS MAR NGUS MAR 30 30 2022 2022 NGUS APR 27 2 2022 NGUS MAY 25 3 2022 NGUS JUN 29 4 2022 NGUS JUL 27 5 2022

Current Rate ($/₦)

Updated Time

427.24

March 2, 2022

428.93

March 2, 2022

430.63

March 2, 2022

432.32

March 2, 2022

434.02

March 2, 2022

22

WEDNESDAY, MARCH 16, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R: President, KPMG Alumni Association, KPMG Nigeria, Tunde Lemo; Associate Director Corporate Development and Services, NestOil Group, Lynda Madu; Managing Director, Tetra Pak West Africa,Aruna Oshiokamele; Manager, Financial Analysis Reporting and Stewardship, ExxonMobil Nigeria, Chinelo Mba-Uduanu; Independent NonExecutive Director, On Various Boards, Bisi Lamikanra; Vice President, KPMG Alumni Association, Sade Odunaiya; and Senior Partner KPMG Nigeria / Chairman, KPMG PHOTO: ETOP UKUTT Africa, Kunle Elebute, at the KPMG Alumni Conference in Lagos… recently

Banks Temporarily Suspend, Review International Transaction of Naira Cards Nume Ekeghe

In a move to reduce dollar obligations, commercial banks in the country are cutting monthly international spending limits on Naira cards to $20 compared to the precious limit of $100.

Over the weekend, First Bank, Zenith Bank, Sterling Bank, Guaranty Trust Bank, Union Bank and other banks sent notices to their customers on the restrictions.

However, THISDAY gathered that only First Bank limit was $50 compared to all other banks, which restricted to $20.

This move has however suggested customers open dollar accounts to obtain cards to fund their obligations, which is expected to be sourced from the parallel market.

Banks had in 2020 reviewed monthly international spending using naira cards from $500 to $300 and ultimately to $100 and also stopped the use of naira cards for ATM foreign currency withdrawals.

First Bank in a statement to customers stated: “Due to current market realities on foreign exchange, we’ve reviewed cross border transaction limits for the Naira Mastercard and the Naira Credit

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

Card to $50 monthly.

“For increased transaction limits, please use your Visa Debit Multicurrency Card, Visa Prepaid (USD) Card and Visa Gold Credit Card to enjoy transaction limits up to $10,000 and other exciting benefits.”

In a statement to its customers, Union bank stated: “Please be informed that the

daily/monthly spend limit on your Naira MasterCard is now $20.

“If you require a higher international spend limit, open a UnionAce account. UnionAce offers you up to 4 per cent per annum on your dollar deposits.

You also get a card that allows you to shop globally with a daily limit of $7,500 on POS

and $4,000 online.”

Zenith Bank in an email titled: “Temporary Suspension of International ATM Withdrawals/POS Payments and Review of Web Transactions Limit Using Zenith Bank Cards,” to its customers, said, it is reviewing naira card spending on web transactions from $100 to $20.

The note read; “Dear Valued Customer, Please be informed that we have temporarily suspended the use of Zenith Bank Naira cards for International Automated Teller Machine (ATM) cash withdrawals and POS transactions. Additionally, the monthly card International spend limit for web transactions

has been reviewed from $100 to $20.

“This review is in response to today’s economic realities. If you have higher International spend requirements, simply visit any of our branches and request for a foreign currency debit or prepaid card, which are available in US Dollar, Pounds and Euro variants.”

FG Flags off NEXIT CBN Investment Scheme for 460,000 Former N-Power Enrollees Olawale Ajimotokan in Abuja The Federal government has flagged off the NEXIT/ CBN Agri-Business Small and Medium Enterprises Investment Scheme for exited N-Power beneficiaries Batches A and B. The five-day training was flagged off in Abuja by Minister of Humanitarian Affairs, Disaster Management and Social Development

Sadiya Umar Farouq.

It is expected that out of the 467,183 trainees who indicated interest, 75,600 will participate in the first phase of the orientation programme and will be entitled to N3million loan from the CBN with a maximum tenure of seven years, if they qualify.

The minister was represented by the Permanent Secretary in the ministry, Bashir Nura Alkali.

The 467,183 NEXIT CBN programme trainees were from the 500,000 batches A and B exited beneficiaries of the National Social Investment Programme (NSIP).

Farouq said that for ease of coordination, the training programme will be conducted in phases and will cover all the 36 states of the federation and the FCT. “The Federal Ministry of Humanitarian Affairs, Disaster

Management and Social Development is committed to ensuring that the strategic objectives of all the social intervention programmes are harnessed to achieve the desired goals and objectives.

“The N-Power programme is a critical part of the National Social Investment Programmes domiciled in the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development

designed to achieve the National objectives of poverty reduction and job creation. The N-Power programme is key to helping young Nigerians acquire and develop life-long skills that ensure they become solution providers and entrepreneurs in their communities,” she said.

The National Coordinator, NSIP, Dr Umar Bindir advised the beneficiaries to take advantage of the CBN package to be self reliant.

DANGOTE CEMENT, MTN NIGERIA LEAD 14 OTHERS IN N589.6BN TAX TO FIRS, OTHERS 2020, while Education levy closed 2021 at N13.34billion, an increase of 29 per cent from N10.32billion reported in 2020.

From the banking sector, ETI’s reported an increase of 56.13 per cent in tax paid to revenue collecting agencies in Nigeria, other African countries to N53.3billion in 2021 from N34.13billion reported in 2020.

Guaranty Trust Holding Company (GTCO) came close to ETI with tax expenses at N46.66billion in 2021, an increase of 27.3 per cent from N36.7billion in 2020.

Analysts have expressed the importance of companies remitting taxes to government agencies, stressing on the role played by listing on the Exchange that gives room for companies to be transparent in tax payment to government agencies where they operate.

Capital market analyst, Mr. Rotimi Fakeyejo hinted that failure to pay tax might force the government to shut branches and truncate operations, stating that the tax system in Nigeria must be streamlined to enhance effective remittance in order not to create dispute between the company and government.

Fakeyejo’s comments his on the heels of some states’ government in 2021 shutdown banking operations in the states Specifically, the Kaduna State Internal Revenue Service (KADIRS) in 2021 sealed the head offices and other branches of four banks over N300.5 million tax defaults.

The KADIRS Executive Chairman, Zaid Abubakar had explained that: “We have sent demand notices several times as required by law, but the banks

refused to come forward to pay taxes due to the state. There is, however, a positive response from the affected banks. They have made part payment and signed commitments to settle the outstanding.”

Fakeyejo, however, added that tax remittance is meant to facilitate economic growth and companies must always oblige in promoting remittance, most especially to state governments where they have branches.

According to him, taxes paid by companies are based on laws and regulations, stressing that companies are meant to play by the rules, which has to do with full disclosure.

He explained further that, “A good number income that banks generated are exempted from tax. Banks are not meant to pay tax income on treasury Bills, government bond and

agriculture loan.

“If you take all of those, sometimes you will find out that tax banks are paying effective on their profit maybe be less compared to manufacturing companies not that they are not deliberately not paying taxes.

He stressed the need for banks to come together and do a total tax income contribution to the country’s Gross Domestic Product (GDP).

Commenting, Vice-President, Highcap Securities Limited, Mr. David Adnori stated that listed companies over the years maintained stronger profit, which is meant to contribute to government tax revenue.

He expressed that most companies that were reluctant to come to the stock market

were hiding their financials or were scared of take-over by wealthy Nigerians.

He said: “Once the government can work together with the FIRS to enforce tax laws, there would be no hiding place for companies. Thus, they will be forced to come to the market.”

In addition, an analyst at PAC Holdings, Mr. Wole Adeyeye stated that financial institutions are operating under CAMA that mandated 30 per cent payment of the CIT, two per cent as Education tax.

He added that: “These taxes are remitted to the federal government. The only tax that goes to the state government is PAYE. Companies’ income tax has contributed significantly to budget finance of the federal and state government over the years.”

on the Exchange by Chapel Hill Denham Advisory Limited, a Registration Member (Quotation) of FMDQ Exchange, shall be availed global visibility through the Exchange’s website and systems,

governance and continuous information disclosure to protect investors’ interest, credible price formation, amongst other benefits derived from the FMDQ Exchange platform,” it said.

14 COMPANIES RAISED N103.34BN THROUGH CPS IN 2 MONTHS of these companies might be having a short fail in working capital. Short term fund is to finance working capital to remain in business. Some might have short-term opportunities to grow

their businesses and decided to take advantage of CP to remain buoyant.”

FMDQ said the timely admission of the CP issues, and in general, all securities on the exchange was

a testament of the efficiency of the exchange’s securities quotation process.

“As is tradition for FMDQ Exchange, the Coronation Merchant Bank CPs, which were sponsored

T H I S D AY ˾ WEDNESDAY, MARCH 16, 2022

23

BUSINESSWORLD

INSURANCE

The Push for Insurance Penetration Indications show that the National Insurance Commission is not relenting in its efforts to use its medium term plan of market development and restructuring initiative to achieve its insurance penetration dream, writes Ebere Nwoji

I

nsurance sector regulatory authority, the National Insurance Commission (NAICOM) is leaving no stone unturned in its efforts towards ensuring an all-inclusive development of the insurance market.

Indeed, going by the commission’s current speed at evolving strategies that are targeted at opening up insurance market for optimum patronage, premium growth and improved contribution to the national GDP, there are clear evidence that quiet unlike in the past years when both the regulator and operators said their target was to match banks and other well performing members of the financial services sector, the insurers’ current target is to surpass banks and even pension and maintain the same level with their counterparts in the western world.

In the western world such as UK, America, banks are owned by insurance firms while pension is tucked into insurance.

But here in Nigeria, over the years, insurance has remained the poor cousin of banks but this trend is fast changing.

A clear evidence is the current majority share holding in First Bank Plc by the Leadway Assurance.

So having set for itself this obvious goal of matching the banking sector and even outwitting it, the insurance regulator in recent years has been dishing out a good number of market developmental programmes that will push insurance services to the nooks and crannies of the country and there are clear evidence that these efforts are already yielding positive results.

NAICOM’S EFFORTS

The commission said it has been creating avenues to deepen insurance penetration to increasing access to insurance products especially digital platforms and increasing visibility of insurance across the nooks and crannies of the country.

The Commissioner for Insurance Mr Olorundare Sunday Thomas at the 2022 annual media retreat for financial journalists held in Uyo, Akwa Ibom state stated that the commission could gladly say that the Nigerian insurance market had undergone substantial structural and regulatory reforms over the years following the market development initiatives it implemented and the evolution of Nigeria’s financial sector in the last decade which has been characterised by digital transformation.

“The Commission is trying to open up the market across the geo-political zones by reaching out to the states where insurance penetration is perceived to be very low. We expect the industry to respond to these efforts by bridging the supply gap and ensure they follow up on the Commission’s move to create awareness among high-ranking policy makers in order to prove that the industry is ready for the booming opportunities awaiting them across the country, “he said.

According to the Commissioner, the project with the Kano State Government is a litmus test for industry.

NAICOM had in the year 2009, launched the medium term plan for insurance market development tagged Market Development and Restructuring Initiative (MDRI)

OBJECTIVES

It stated some of the objectives of the initiatives as ensuring the deepening of the insurance market and

moving the industry’s gross premium form the then N164 billion level to N 1.1 trillion .

The initiative, according to NAICOM also has the objectives of creating 50,000 jobs in Nigeria through the insurance agency system, fight against fake insurance institutions and ensure enforcement of compulsory insurances.

Thomas at the media retreat insisted that the commission in an effort to achieve the overall objective of the market development initiative had tailored its regulatory programmes towards ensuring that it lifts the Nigerian insurance sector to global standard level.

The commissioner said the theme of this year’s retreat, which was “Improving Insurance Access through Market Development and Innovation in 2022 and beyond” was specially couched to consolidate on his administration’s cardinal agenda of developing the market and deepening penetration.

MARKET DEVELOPMENT INITIATIVES:

He highlighted some of these market development programmes, which the commission had evolved in recent times as partnership with Financial Sector Deepening Africa, FSD Africa to launch the Bimalab Nigeria, a program aimed at accelerating the insurtech innovation.

“Let me inform you that the Commission will soon be unveiling the Commission’s sandbox to give room for innovative expansion of insurance reach out”.

Thomas highlighted other initiatives as Risk Based Supervision Framework to imclude;”Encouraging investment in digital capabilities and automation citing example of launching of NAICOM Portal, launch of the Bimalab Project on the 9th of February, 2021.

Enforcement of the compulsory insurance products in Nigeria through partnership with agencies and states.

Capacity development programmes through Actuarial, competency framework, sensitisation of various stakeholders such as MSMEs on benefits of insurance, MDAs Insurance Desk Officers, introduction of regulatory reforms and policies like the issuance of web aggregators’ guidelines.”

In summary of these efforts, Thomas said “We can gladly say that the Nigerian Insurance market has undergone substantial structural and regulatory reforms over the years following the market development initiatives being implemented and the evolution of Nigeria’s financial sector in the last decade which has been characterised by digital transformation.”

Speaking on the topic, “NAICOM’s Market Development Initiatives The Journey so far,” NAICOM’s Head, Corporate Communications and Market Development, Mr Rasaaq Salami, took a critical review of the various Market Development Initiatives of the Commission over the years aimed at uplifting the insurance sector in Nigeria, the value addition of these initiatives to the sector, challenges and

the new steps taken by the commission.

He described market development as a strategic step taken to improve/expand an existing market rather than seeking a new market; “looking for new buyers to pitch a product to a different segment of consumers in an effort to increase the insurance market.”

He noted that the Market Development and Restructuring Initiative (MDRI), was launched in 2009 as a vehicle to amongst others: “deepen insurance penetration and increase sector’ contribution to GDP; increase the Gross Premium Income from N164 billion to N1.1 trillion; drive enforcement of compulsory insurances; fight against fake insurance institutions, grow the insurance agency system and in the process, create 50,000 new jobs.”

He said in launching the initiative, the regulator used the opportunity to ensure that the insurance sector keyed into the federal government’s Financial Inclusion Initiatives Bancassurance, Microinsurance, Takaful According to him, this saw the commission stepping into efforts to ensure compulsory Insurance of all government assets through advisory role to federal government.

He said the commission went into actions targeted at expanding the reach or tapping into a different segment/unexplored market (Retail end) and, other activities aimed at achieving insurance market development: He said the commission issued guidelines such as Market Conduct Guideline, Bancassurance Guideline, Takaful Insurance Guideline, Microinsurance Guideline, RBS Framework/ Own Risk Assessment (ORSA), Nigerian Insurance Industry ICT Guideline, Guideline on Insurance of Government Asse, Insurance Web Aggregators Operational Guideline, Establishment of Liaison with target state government such as Lagos, Ekiti, Kano etc.

He said the commission also implemented machineries in place towards sensitisation of NMSMEs on insurance products and benefits inherent in their consumption in Kano, Abuja and Lagos among others.

According to Salami, as a result of these initiatives insurance sector annual premium grew from N508.23 billion in 2019 to N514.58 billion 2020 and N630.36 billion 2021 representing GPI increase of 19.24 percent in 2019, 1.25 percent in 2020 and 23 percent increase in 2021.

MARKET DIGITALISATION

Speaking on the topic, “Improving Access to Insurance in Nigeria through Digital Solutions,” Abiodun Arbike of NAICOM IT department said Insurance Penetration was a measure of the contribution of Insurance to the Gross Domestic Product (GDP).

According to him, it is calculated as the ratio of total insurance premium to gross domestic product in a given year.

He said this served as an indicator of insurance sector development within a country and how much it contributed to the national economy.

He however said it did not indicate how

many people had insurance coverage, the quality of the coverage and the value it provides for insurance consumers.

He examined that Nigeria Insurance Market Penetration rates in the past six years saying in 2016, penetration rate was 0.48, in 2017, it was 0.54, in 2018, 0.61, in 2019,0.71,2020,0.72 while in 2021, it was 0.88, adding that an estimated two percent of Nigerian adult population have insurance cover.

He however said this obvious low insurance penetration could be increased through the adoption of technology and digital solutions “Digital technology has taken the world by storm affecting, changing and improving the way things are done. It is disrupting traditional operating structures and Industries such as telecommunications, media, entertainment and consumer products have been impacted in the way they attract and retain customers.

“The insurance industry is currently lagging behind and needs to reassess its business model, re-evaluate their strategy and make the digital agenda a high priority. If this is not done it will be difficult to deliver on customers’ expectations. It is time for insurers to evolve and respond. This will require a different set of skills, culture and operating model, “he stated.

He said data is the new oil and lifeblood of the digital age and could be used massively for decision making across the insurance value chain and ecosystem and product development.

He said, “We can gather data from customers information, Telematics devices, Smart phones, Social media, CCTV footage, Electoral rolls, Credit reports, Website analytics, Government statistic, Satellite data, Call Centers etc.

“Data Analytics helps companies in Customer acquisition and retention, Personalised Service and Pricing, Risk assessment, Cost cutting, Usage based Product Development, 360-degree Customer profiles, Improving Customer satisfaction, Fraud Prevention and Detection, Faster claims settlement, Underwriting Automation, Customised Policy offerings, Call Centre Optimisation etc.

He quoted McKinsey, as saying that data analyticsdriven insurance firms are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result, insisting that Data analytics will surely make the insurance sector reach new heights.

Abiodun noted that in order to reach new segment of the market, address new customer expectations and meet customers at their points of need in the digital age there, was need to explore new channels of distribution of insurance, adding that while the agent/broker channels or the direct distribution models were not going away, there was need to expand distribution beyond traditional channels.

“There are increasing shift towards digital and remote-interaction tools, self-service and digitally enabling sales forces and enhancing the use of data and analytics.

“No insurer can afford to stick to a few favorite channel and to be competitive we will need to adopt a multi-channel distribution strategy while being flexible in adopting the modern tools of technology and the internet in widening the boundaries of the distribution

T H I S D AY ˾ WEDNESDAY, MARCH 16, 2022

24

BUSINESSWORLD

PERSPECTIVE

How FMBN is Making Homes Possible for Nigerians John Terhemen Ikyaave

country in addition to Lagos and Abuja, in batches of a minimum of 200 units per zone.

The second phase has also commenced and is planned to deliver about 2,160 houses in another fourteen (14) locations. House types include finished semi-detached bungalows as well as 1-, 2- and 3-bedrooms in blocks of flats.

W

orldwide, mortgages take the lead as the preferred means for owning a home. In countries such as the United Kingdom, USA, France, and other OECD (Organisation for Economic Cooperation and Development) countries, it is rare to see people paying outright for homes using savings, loans from friends, family members or cooperative societies.

In Nigeria, the widescale adoption of mortgages as a popular path to owning homes is still extremely low. This situation needs to change. It explains in part, the country’s high housing deficit that is estimated by experts to hover between 17 to 22 million housing units with trillions needed to make any significant dent on it.

Fact is that housing is a capital-intensive venture. A combination of low wages and high cost of living give millions of Nigerians little room to save towards purchasing or building their homes. For Nigeria to properly house its citizens, greater efforts need to be made to bolster access to affordable housing finance to enable them to own their homes.

To tackle the problem of access to affordable housing finance, many countries across the world have promoted the adoption of mortgages as the preferred path to homeownership. The mortgage process entails the granting of monies to obtain a home with good faith that the debtor will repay the loan with interest attached to life of it. Both the debtor and lender benefit if nothing goes wrong.

Over many years, the borrower repays the loan, plus interest, until she or he owns the property free and clear. Mortgages have helped millions of people all over the world buy homes. Even if you do not have N5,000,000 cash, you can buy a N5,000,000 home using a mortgage and pay gradually over time till you defray the loan.

So, essentially, a mortgage is a loan that a lender, which could be a commercial or mortgage bank, gives to a potential homeowner to purchase a house or other real estate. Before mortgage lenders give loans, they check to see if you meet certain requirements such as your income level, your financial ability to pay back the loan. The lender can take ownership of, or foreclose on, the property you have mortgaged if you do not repay the money borrowed, plus interest.

High mortgage adoption leads to high homeownership levels. In the United States for instance, the proportion of households that are occupied by the owners is over 65.1 percent. In the United Kingdom, homeownership rate is above 67.69 percent and 90 percent and 84 percent in Singapore and Indonesia, respectively.

As expected, the situation is different and worrisome in Nigeria. We have a homeownership rate of about 25 percent, which is much lower than even Kenya – 73 percent, Benin Republic – 63 percent and South Africa 56 percent.

LONGER TERM, SINGLE DIGIT INTEREST MORTGAGES It is against this backdrop that the role of the Federal Mortgage Bank of Nigeria (FMBN) in boosting access to affordable housing finance is so significant. Established as a wholesale mortgage finance institution, the FMBN provides primary mortgage banks with low-cost funds to provide affordable mortgages to Nigerian workers.

Notable features of FMBN mortgage loans include zero equity requirements for loans of up N5million and 10 percent equity down payment for loans above N5million to N15million.

Others include single digit interest rates ranging from 6 to 9 percent per annum and long payment tenors of up to 30 years.

FMBN’s housing products are available to contributors to the National Housing Fund (NHF) Scheme, a social savings scheme designed to mobilize long-term funds from Nigerian workers, banks, insurance companies and the government to boost access to affordable housing finance.

The bank also has a rich and impressive portfolio of social housing products that target a key and dominant segment of the Nigerian population: low to medium

MD/CEO, FMBN, Arc. Ahmed M. Dangiwa

income earners.

Consider the FMBN National Housing Fund (NHF) Mortgage Loan and its unique structuring to serve the ordinary Nigerian worker. FMBN leverages funds from the NHF scheme to grant concessionary loans to its accredited Primary Mortgage Banks (PMBs) at a 4 percent interest rate. The mortgage banks in turn use these funds to give loans to qualified workers that contribute to the NHF scheme at 6 percent interest per annum with payment tenors of up to 30 years. Loans of up to N5million attract zero equity down payment while those above N5m to N15m require 10% equity. Subscribers are qualified to apply after only six months of continuous contributions to the scheme.

The terms and features of the NHF Mortgage loan are affordable and reduce the financial pressure on the meagre incomes of low-income earners.

For comparison, interest rates on housing loans in the open market range from 18 percent to 25 percent per annum while maximum loan repayment tenors hover between 10 – 20 years.

Most commercial banks and mortgage lenders also require that applicants provide between 30 percent to 50 percent equity contribution before loans are processed and possibly approved for disbursement.

BALANCING HOUSING PRODUCTS AND WORKER’S FINANCIAL CAPACITY Besides the NHF Mortgage Loan, FMBN has been innovating to ensure a proper match between its housing products and the financial capacity of an average Nigerian worker looking to own a home. In the past four years, under the leadership of Arc. Ahmed M. Dangiwa, the bank developed and introduced two creative housing products.

The first is the individual Home Construction Loan. The loan enables NHF contributors with unencumbered land, appropriate land titles and approved building plans to undertake self-construction. The loan provides up to N15million to contributors to the National Housing Fund (NHF) scheme

at 7 percent interest rate. Beneficiaries can pay back over a period of up to 30-years depending on their age and number of years left in service.

The second product is the FMBN RentTo-Own Housing Scheme. The scheme offers an easy and convenient payment arrangement towards homeownership for Nigerian workers. It makes it possible for a Nigerian worker to instantly move into an FMBN-owned housing property as a tenant and conveniently pay towards ownership of the property in monthly or annual instalments over as long as 30 years at an interest rate of 7%!

Another equally interesting and worker-centric affordable home ownership product that FMBN has upscaled significantly within the past three years is the home renovation loan.

The loan provides up to N1million to enable beneficiaries who already own their homes to carry out improvements.

FMBN has also revamped its legacy Cooperative Housing Development Loan (CHDL) in line with the initiative of the Minister of Housing, Babatunde Raji Fashola (SAN) to adopt cooperative societies as the channel for the aggregation and delivery of houses to members of cooperative societies.

The FMBN Cooperative Housing Development Loan (CHDL) enables a cooperative society that has acquired a plot of land to develop houses for allocation to its members. Key features include tenors of up to 24 months with a moratorium of 12months and interest rate of 10%. Up to N500million is accessible by qualified cooperative societies under the facility.

To strengthen collaboration and confidence of workers who are the main contributors to the NHF scheme, the bank approved and is currently executing a National Affordable Workers’ Housing Scheme in partnership with the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and the Nigeria Employers Consultative Association (NECA), to deliver affordable houses for Nigerian workers. The first phase of the scheme was launched in October 2018. About 1,400 housing units are ready for commissioning in twelve (12) sites across the six geopolitical zones of the

BOLD POLICY ACTIONS REQUIRED TO REVERSE THE TREND To reverse the housing deficit in the country, bolder and more aggressive policy actions are required by governmental authorities to strengthen both the demand side of housing in the country as well as the supply side.

This entails supporting and boosting the capacity of existing institutions such as the FMBN to scale their operations for greater impact. It is encouraging to note that the FMBN has been given a key role in the implementation of the government’s economic sustainability plan alongside the Family Homes Fund (FHF). This is a right step in the right direction. For one, the bank has the largest registry of potential homeowners in the country with over 5 million contributors to the National Housing Fund (NHF) Scheme, that the bank manages on behalf of the government. The list of subscribers includes civil servants, workers in the private sector, self-employed persons, traders etc with comprehensive information about their income levels and financial capacity to pay back mortgage loans.

Secondly, the FMBN has over the past four years demonstrated through remarkable results that the National Housing Fund (NHF), established in 1992 to pool long term funds for the delivery of affordable housing to low- and medium-income workers, can be made to deliver practical results.

Between April 2017, when the current Executive Management team took charge of the bank to December 2021, FMBN leveraged funds accruing to the National Housing Fund (NHF) Scheme to record over N175billion in various loan disbursements.

The figure comprises NHF Mortgage Loans totalling N53.963 billion granted to 5,938 beneficiaries and Home Renovation Loans totalling N63.349billion granted to 77,575 beneficiaries. The bank also deployed over N57.7billion towards the development of 13,339 affordable housing units across the country through different construction product windows. This includes Estate Development Loans totalling N27.202billion, Cooperative Housing Development Loans totalling N21.349billion and Ministerial Pilot Housing Scheme loans totalling N9,284billion.

The size of mortgage loans disbursed within the four-year period is remarkable at many salient levels. First, it accounts for over 53 percent of the cumulative N333.443 billion that FMBN has disbursed since the National Housing Fund (NHF) Scheme commenced operations 30 years ago in 1992. Secondly, the amount translates to a 115 percent increase in the cumulative value of mortgage loans totalling N152.453 billion in April 2017 when the Management team came on board to N333.443billion as of December 2021. The speed of processing, size of the loan approvals and disbursements are all unprecedented in the history of the Bank. The performance proves that further empowering FMBN to scale promotion of affordable housing stock targeting the over five (5) million of current NHF subscribers would accelerate Nigeria’s efforts to tackle the housing deficit.

Overall, to achieve high mortgage penetration levels in the country and increase homeownership rates, especially within the low-medium income segments of the economy, there is of course the need to think outside the box giving the perennial stagnation of growth in the sector. But re-inventing the wheel is not an attractive option. A low hanging fruit is to empower strong institutions and systems that have shown capacity to deliver affordable housing to do more.

FMBN presents one such platform. The current Board and Management should, therefore, be encouraged, and its finances bolstered to enable it to create greater impact as the foremost government tool for social housing delivery. t *LZBBWF JT B QVCMJD QPMJDZ BOBMZTU CBTFE JO "CVKB

WEDNESDAY, MARCH 16, 2022 ˾ T H I S D AY

25

BUSINESSWORLD

NEWS

Insurance Underwriter Empowers over 200 Female Entrepreneurs with Financial Support Ebere Nwoji As part of its continued effort to support women and the Small

and Medium Enterprise (SME) in Nigeria, AXA Mansard insurance has provided financial and capacity development support for over 200

Guinea Insurance Launches Self-Serve Motor Insurance Guinea Insurance has launched a self-service motor insurance e-portal that allows customers to purchase motor insurance products in less than two minutes.

The company disclosed this in a statement titled ‘Guinea insurance launches a motor insurance selfservice portal; Purchasing process takes less than two minutes.’

Speaking on the product, Guinea Insurance Managing Director, Ademola Abidogun, said that the motor insurance portal was launched to provide the insuring public with unlimited access to make real-time purchases from anywhere and whenever they needed to.

Ademola said the portal would

give customers the freedom to buy authentic and reliable motor insurance policies without any geographical barrier, if the vehicle is within the Nigerian land borders.

“As it stands today, consumer behaviour is undeniably shifting and favouring effortlessness more than before, whether by simply engaging with a business quickly and conveniently or by easily accessing the most relevant information to meet their individual needs.

“Our customers nationwide would be able to choose and make informed decisions to purchase motor insurance products that best suit their insurance needs, “ he stated.

Sterling Launches Omni X Platform Nume Ekeghe

In a bid to improve banking experience for non-bank and other financial institutions, corporate clients, UHNIs and HNIs, Sterling Bank Plc has launched a revolutionary digital platform, named Omni X. Omni X, an integrated investment and liquidity management platform, presents the Bank’s wide range of digital products and service offerings to users. The novel solutions, which are configured to enable businesses invest and raise seamlessly also complements Sterling’s existing corporate Internet banking platform.

Executive Director, Corporate and Investment Banking, Sterling Bank Mr. Yemi Odubiyi, who disclosed this in a statement issued by the Bank said: “Omni X is deliberately designed to offer a simple, easy and effective platform to manage the daily liquidity needs of corporates.”

At a recently held focus group event for captains of industry, the Group Head, Client Coverage and Financial Institutions, Kashetolulope

Lawal, highlighted that Omni X would provide convenience to corporate clients by expediting financing decisions, speeding up transaction processing times, automating investment processes, while minimizing the incidence of human errors associated with manual processing to improve customers’ experience and drive business productivity; dovetailing into profitability for users.

“Omni X becomes an imperative solution for corporates across various sectors to invest and raise financing simultaneously where possible due to; the nature of their businesses, the time sensitivity attached to these activities and the culminating desire for an improved solution that does the most in the shortest time possible.”

Omni X also incorporates corporate account opening and other services for seamless on boarding and transaction processing as well as solutions for investments, liquidity management and access to advisory services.

Heritage Bank Collaborates with FAMO to Empower Women Nume Ekeghe Heritage Bank Plc has joined forces with Fateema Mohammed Ogunkola Foundation (FAMO) to empower women to thrive in business as well as work life balance.

This move was made known at an event to commemorate this year’s International Women Day, themed, “Break the Bias,” with a host of top female dignitaries, converged for a 4-day virtual empowerment seminar for its staff, which focused on different aspects of the woman’s life - business, finances, work life balance, health, and the future.

Speaking at the event, Regional Executive, Lagos and Corporate Banking Division, Heritage Bank, Ms. Afolashade Alonge, said the society should strategize and focus on promoting women’s economic empowerment as a means of increasing the nation’s GDP. According to her, closing the

gender gap at every level of endeavors is a key to accelerating sustainable economic growth.

Alonge noted that it has been shown that women’s economic empowerment increases productivity and economic diversification.

She noted that to succeed and advance economically, women need the skills and resources to compete in markets, as well as fair and equal access to economic institutions.

Speaking on the partnership, the Convener of the event, Fateema Ogunkola said Heritage Bank saw the importance of heritage among women that is why the bank has decided to support FAMO to celebrate this year’s women day She said: “The International Women’s Day is yet another opportunity to reexamine the critical role that women continue to play in building a peaceful and prosperous society.”

female SME owners in Nigeria.

It provided the support through a capacity development conference organised by SME 100 Africa, in commemoration of the International Women’s Day. SME 100 Africa is a social enterprise that supports young African entrepreneurs along their journey towards professional success.

Speaking during the conference, Chief Client Officer, AXA Mansard, Rashidat Adebisi, said that collaborating with SME 100 to empower SMEs is another way in the series of programmes and initiatives that AXA Mansard was using to inspire and empower women.

According to her, AXA Mansard’s

commitment to SMEs is not just about the ripple effect it will have on the economy, also about the gap that it will bridge.

“And empowering these brilliant business owners around the International Women’s Day, is our way of raising the awareness about the different socio-economic possibilities of unlocking the potential of women either in business, career or other social endeavour,” she explained.

Speaking on the SME business pitch competition, which happened on the side line of the conference, the Chief Customer and Marketing Officer, AXA Mansard, Jumoke Odunlami explained that the

goal of the company in investing in the competition was not just to highlight the ingenuities of female SMEs in Nigeria, but to give them constructive feedback on how to improve their business and help them understand the importance of Insurance.

She said, “For us, It is not just about who gets to win the prize money. The prize money is one of the many benefits of participating in this competition. The real value is for us to demonstrate our role to business owners as being not just an Insurance company that pays claims when the unforeseen happens, but as the Insurance partner who Is there for you

every step of the way; giving you feedback, providing expert opinion, and assuring you that you can take on the world, confident that you are covered.

Speaking about the SME Business pitch competition, which happened on the side line of the conference, the Chief Customer and Marketing Officer, AXA Mansard, Jumoke Odunlami, explained that the goal of the company in investing in the competition was not just to highlight the ingenuities of female SMEs in Nigeria, but to give them constructive feedback on how to improve their business and help them understand the importance of Insurance.

AVIATION CEO OF THE YEAR…

L-R: General Manager, Public Affairs, Accident Investigation Bureau, (AIB) Nigeria, Mr Tunji Oketunbi; , Legal Adviser, AIB Alhaji Aliyu Kakangi; Commissioner/CEO, AIB, Engr. Akin Olateru; and Special Assistant to the Commissioner/ CEO, Hajia Aisha Junaidu, after the award of the Aviation CEO of the Year was bestowed on AIB Commissioner by the travellers Award ceremony in Abuja… recently.

African Alliance Restates Commitment to Better Business Relationship with Brokers, Pays N1.42bn Claims African Alliance Insurance Plc, has restated its commitment to stronger and better business relationships with the Nigerian Council of Registered Insurance Brokers (NCRIB). The assurance was delivered by the MD/CEO of the company, Joyce Ojemudia, to the members of the South-South Area Committee of the NCRIB during their Members’ Evening sponsored by African

Alliance Insurance PLC in Port Harcourt. .

Speaking at the event, Ojemudia said: “We do not take your supports for granted, knowing well your critical role in our industry as well as being our longstanding partner in progress. For every business we have gotten from you, we say thank you. But like Oliver Twist, we want more. Wanting more for

us is not just about raking in more premiums, it is also about partnering with you to grow your businesses too while bringing succor to our mutual clients as well as driving the industry’s penetration. We reiterate our unstinting commitment to making you happy; after all, we are all in the business of putting smiles on people’s faces.”

Highlighting the company’s claims

profile in the ongoing business year, she said in the first two months of the year - January and February 2022, the firm had already paid a total of N1.42bn in claims.

“Broken down; we paid N268.14m in Group Life claims; N248.79m in Individual Life claims; N165m in Takaful claims; Esusu took N8.77m while Annuity was N726.18m,” she said.

CIBN to Partner ACAMB on Reputation Management Gap in Banking Sector Nume Ekeghe The Chartered Institute of Bankers of Nigeria (CIBN) has signified interest to partner Association of Corporate Affairs Managers of Banks (ACAMB) to bridge perception and reputation management gap in the nation’s banking sector.

CIBN gave the assurance on partnership and collaboration last recently when the newly inaugurated ACAMB executives paid a courtesy call on the Council and Executive Management of CIBN at Bankers House in Lagos.

Speaking during the visit, President of ACAMB, Rasheed

Bolarinwa said the relationship between both bodies have led to the robust development of the banking and financial industry in the country.

He however noted that the relationship could achieve more especially in the area of bridging perception and reputation management in the banking and financial services sector.

“There is this negative perception among customers generally on the issues of bank charges. In other instances, customers feel banks are not doing enough for them especially as regards accessing loans and other benefits, “he said.

Earlier the ACAMB President appreciated the CIBN for its various advocacy moves aimed at entrenching banking practice in Nigeria’s financial space.

“We want to specifically commend CIBN for its consistent efforts at ensuring a healthy and competitive banking and financial industry in Nigeria. Notable amongst the various strides of the institute, is its consistent and professional discharge of advocacy roles, organisation of annual world class banking and finance conference which peaked with that of 2021 where two sitting Presidents; Presidents Muhammadu

Buhari (Nigeria) and Paul Kagame (Rwanda) were in attendance; as well as the Vice President of the Federal Republic of Nigeria, Prof Yemi Osinbajo”.

Responding on behalf of institute, the President/Chairman of Council, Dr. Bayo Olugbemi commended ACAMB for the visit and had a positive view about the positive role ACAMB has played over the years to shape positive image for Nigeria’s banking sector. He said the CIBN will continue to partner ACAMB where necessary, to amongst other things, guard the image of the banking and financial services industry.

Corporate Farmers Equip Students for Agribusiness Enterprise Gilbert Ekugbe The Corporate Farmers International (CFI) e-Learning Academy has officially graduated some of its students who have passed through agribusiness professional courses, noting that the move is part of CFI’s move contribute its own quota to boost food production in the country.

CFI in a statement said that the graduated students would further proceed for practical internship in one of Lagos State farm sites before getting access to soft agric loans from its bank partner to enable them commence their own agribusiness enterprise.

The statement added that the move was apt following the frequent increase in the strike

of Nigerian institutions and the urgent need for virtual learning due to COVID -19, pointing out that it is of great importance for technology to play an adequate role in our educational system, therefore, creating credible and knowledgeable EdTech platforms in Nigeria and Africa at large just like Young Africa Works initiative of MasterCard Foundation

The statement read: “In putting Nigeria to the global map within the educational and agricultural technology space, Corporate Farmers International launched its e-learning Academy in 2020 adding more value to agricultural education for students, youth, and other stakeholders within the ecosystem with five different professional certification courses.”

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T H I S D AY WEDNESDAY MARCH 16, 2022 Wednesday 16 March, 2022

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RUN, AMAECHI, RUN! Rotimi Amaechi is fit and proper to lead the nation, writes CHUKS AKAMADU

UZOR MAXIM UZOATU urges Chukwuma Soludo to make a difference and leave legacies

SOLUDO: THE JOB MEETS THE MAN

I See page 28 COMMUNICATION TRAUMA FOR AFRICAN STUDENTS IN UKRAINE In a war situation, anything goes. Everyone tells his or her story, writes SONNY ARAGBA-AKPORE See page 28 GBAJABIAMILA AND THE WOMEN’S BILLS ENIOLA ROBERTS writes that despite the setback, the Speaker is on the side of the women

See page 29 JOURNALISTS ON WAR FIELDS COSMAS ODOEMENA canvasses the protection of journalists by all, be it government or warlords See page 29 EDITORIAL

The Aviation Fuel Scarcity See page 30

t is crucial to state from the very beginning that Professor Chukwuma Charles Soludo is a man of destiny. He did not hide it from anybody that he wanted to become the Anambra State Governor. The job has now met the man.

The twice-told Nigerian story is the matter of dubious godfathers almost always handing over power to ill-prepared godsons. Chief Willie Obiano as Governor of Anambra State did not follow the familiar debilitating trend. He insisted on backing the very best, a dogged performer who is poised to take Anambra State up the stratosphere. The choice of Soludo garnered unprecedented statewide support such that his election became a fait accompli.

Soludo comes upon the saddle of Anambra State governorship fully prepared. He assures that he should be held to account via the contents of his manifesto.

In the spirit of matching words with action, Soludo has reiterated that the native son’s motor company, Innoson, would supply the government’s vehicular needs. He insists on putting on Akwete clothes, and the demand for the local product has since soared.

Soludo’s devoted application to any job he is doing is indeed outstanding. In fact he would rather inform that he is rendering service instead of doing a job. Little wonder he is affably known as “Soludo Solution” in the general field of economic matters, while in the specialized sector of banking he is dubbed “Mr. Consolidation.”

He is that one Nigerian public figure who is not afraid to take hard decisions. For instance, the tenure of Professor Chukwuma Charles Soludo as Central Bank Governor of Nigeria was quite eventful. The cerebral man who dared to venture into spheres where angels feared to tread had his fervent admirers and steadfast revilers. Nobody apparently stood on the fence on the issue of Soludo. It is a mark of the mystique of Soludo that the then President Umaru Musa Yar’Adua who failed to give the erstwhile CBN Governor a deserved second tenure ended up officially congratulating the man.

Written with presidential seal, Yar’Adua’s commendation of Soludo went thusly: “As your tenure as Governor of the Central Bank of Nigeria comes to a glorious end, I write on behalf of the Government and people of Nigeria to place on record our debt of gratitude to you for your dedicated service and uncommon sense of duty over the past five years. I am confident that your worthy antecedents in the CBN and in prior appointments in the service of our nation remain sources of inspiration to an entire generation. As I wish you even more astounding successes in the years ahead, it is my fervent hope that you will readily avail us of your distinguished service when the need arises in the future. Yours sincerely, Umaru Musa Yar’Adua.”

It needs to be recalled now Soludo has

come to the Anambra scene that ever since his appointment to the CBN post in June 2004, Soludo blazed a trail that left his fellow countrymen and women almost breathless.

Keeping pace with Soludo became wellnigh impossible. Barely a month in office, he met the Bankers Committee and promptly released a 13-point agenda designed to turn around the financial sector of the country.

The feather on the crown was the banking consolidation initiative of Soludo. Before consolidation, all of the banks in existence in Nigeria put together could not match one South African bank. The recapitalization initiative led to the making of 24 big banks out of the 89 banks previously in existence in the country.

Through the efforts of Soludo Nigerian banks have been able to go global. The banks opened up offshore branches, thus becoming true global players in the financial

Being launched into office with costly ceremonial fanfare is not cool by Soludo; he would rather get his hands dirty in the slums of Okpoko in Onitsha from the first moments of power

world. New York, Paris, London, and sundry capitals of African countries now count Nigerian banks and bankers amongst the top players.

Soludo courageously made all the banks to adopt a common year-end strategy, thus stopping the hanky-panky stratagem of banks cooking their books. He stressed that the banks must undertake a strict observance of sound corporate governance. He upped the ante in macroeconomic stability, and through his efforts foreign investment found pride of place in Nigeria.

His work in the microfinance sector was nothing short of revolutionary. Some 800odd microfinance houses were granted licences, spreading across the country thus: Southwest 40.5 percent, Southeast 21.2 percent, South-south 14.3 percent, Northcentral 12.9 percent, Northwest 6.9 percent, Northeast 4.1 percent. The micro finance houses were meant to carter to the needs of petty traders, transporters, barbers, local farmers, etc.

Soludo breathed fresh life into the Nigerian Security Printing and Minting (NSPM) Company, and he made ATMs a fact of daily Nigerian life.

It is this selfsame uncommon zeal that Soludo has brought to his Anambra tour of service. He does not want to dance to the tunes of hero-worship attached to the title of “His Excellency”. He simply wants to be addressed as “Mr. Governor” or even the homegrown sobriquet: “Charlie nwa Mgbafor!” For him, there is enormous work to be done instead of succumbing to the banal luxuries of high office.

Being launched into office with costly ceremonial fanfare is not cool by Soludo; he would rather get his hands dirty in the slums of Okpoko in Onitsha from the first moments of power. A hands-on leader, he prefers to show the way through personal example. As Chinua Achebe wrote in The Trouble with Nigeria, “The Nigerian problem is the unwillingness or inability of its leaders to rise to the responsibility, to the challenge of personal example which are the hallmarks of true leadership.”

It is incumbent on me to give the last words to Professor Chukwuma Charles Soludo through the lecture entitled “The Purpose and Price of Disruptive Change” which he delivered recently: “Every society that has prospered and endured has been led by men and women who have discovered a higher purpose beyond the self. For such people, politics is a vocation for selfless service and not a job. Such people are driven by a single purpose – to make a difference and leave legacies. Whenever and wherever competence is augmented with character and developmental ideology, the society wins.”

Uzoatu is a Journalist and Poet

2 28

T H I S D AY WEDNESDAY MARCH 16, 2022

RUN, AMAECHI, RUN! Rotimi Amaechi is fit and proper to lead the nation, writes CHUKS AKAMADU This is my three years of uninterrupted political aloofness. In the run-up to the 2019 general elections, a constellation of Abia stars had joined forces to retrieve the state’s governance compass from the grip of T.A Orji’s political family. Yours sincerely is proud to have stood to be counted. That mission, to the misery of Abians, was aborted – and this occasion is hardly auspicious to re-tell the sordid story! Four years earlier, I had actually damned what many considered to be “good political judgement” to run for the Abia Central Senatorial seat, which had pitted me against the rampaging

at Government House Umuahia in that tempest era, three things enabled me to stay faithful to the struggle. First, as a Mahatma Gandhi fan, I had learnt the art of resilience and was actually happy that an opportunity had been provided for me to experiment with it at the realm of practice. Second, the instructive words of Sydney J. Harris written in 1951 which says that “Regret for the things we did can be tempered by time; it is regret for the things we did not do that is inconsolable”! Third, the sheer conviction, rare courage and uncommon passion for justice Rt. Hon.

Rotimi Amaechi admirably displayed in the course of his Supreme Court battle to reclaim his gubernatorial mandate FRQVWDQWO\ UHPLQGHG PH WKDW ÀJKWLQJ a good cause does not necessarily have to enjoy the buy-in of a fair-weather crowd.

However, for the purpose of this SLHFH , ZRXOG KDYH XV EULHÁ\ FKHZ more on Harris’ profound words (… it is regret for the things we did not do that is inconsolable). Truly, I now have every reason to believe that our founding fathers were acutely aware of how inconsolable they would have been had they shirked the historic UHVSRQVLELOLW\ RI ÀJKWLQJ IRU DQG Governor T.A Orji.

Yes, the incumbent governor did winning independence for Nigeria. win, but my loss curiously came at Ditto the Dr. Alex Ekwueme-led G-18, a steep cost. It did cost an arm and a later G-34, who spoke raw truth to the leg. The reason wasn’t too distant to smokey guns of the military in the face see: my governor (as he then was) felt of indiscriminate tyranny!

There comes a time in the life of a DͿURQWHG E\ WKH WHPHULW\ RI D \RXQJ man from same Umuahia North Local man when he, of his own volition, Government Area to run against him steps out of his comfort zone to take a irrepressibly. For some reason, he stand– and that is exactly why I have appeared convinced that I was planted willfully terminated my three years of by his obvious political adversaries to political hibernation. With the general bring his national assembly aspiration elections being less than 365 days away to ruin. Otherwise, there really was from today, Nigeria has once again QR MXVWLÀFDWLRQ IRU KLV EUD]HQ DEXVH RI approached the crossroads. As usual, political power in the early hours of pundits and political hirelings have December 8, 2014 when, at his instance, saturated the media (conventional and I was “kidnapped” and “abducted” new) space, pulling wool over our eyes. by operatives of Department of State ,W KDV HTXDOO\ EHFRPH SUHWW\ GL΀FXOW WR Service (DSS) all in a bid to botch my UHDOO\ VHSDUDWH FKDͿ IURP ZKHDW :RUVH party’s senatorial primary election still, pretenders and charlatans seem to which, against all odds, still held on the be dominating the front pages. said date.

1RZ IRU WKH ÀUVW WLPH , ZLVK WR confess publicly that in the midst of Akamadu is a Lawyer and Public my travails in the hands of the hawks Relations Consultant

Thankfully, he is an Igboman. Igbo kwenu!

With him, Nigeria would be killing several birds with one stone: enthrone quality leadership; resolve once and for all the lingering Igbo agitation

In a war situation, anything goes.

Everyone tells his or her story, writes SONNY ARAGBA-AKPORE

COMMUNICATION TRAUMA FOR AFRICAN STUDENTS IN UKRAINE Imagine being in a bunker for over 24 hours. No communication with anyone except those who are there with you. No food, no water or drinks. That was the nightmare of many African students holed in war-torn Ukraine until help came.

As for their parents and guardians back home, the trauma was unimaginable. Some developed high blood pressure that led them to the hospital.

By the time these students and other categories of immigrants found their ways to the rescue centers, so much damage had been done to their psyche.

War is no joke no matter the size. In a war situation, human lives mean nothing to war mongers like Vladimir Putin who has decided on a war for his greed and quest for power as if he will live forever. &RPPXQLFDWLRQ ZDV D GL΀FXOW SURFHVV IRU the victims of this unnecessary war as many FRPPXQLFDWLRQ SODWIRUPV ZHUH FXW RͿ IRU everyone. Most people who were able to reach out GLG VR ZLWK VR PXFK HͿRUWV Even information reaching out were sloppy and inaccurate so much that both Putin and Zelensky spoke tongue- in- cheek.

Information came through primary sources, news media but heavily slanted.

In a war situation, anything goes. Lies. Half truth. Propaganda. All is fair in war. Everyone tells his or her story from his or her angles. Everyone tries to control his or her narrative.

The media is generally guided by their individual alignments. Those who are pro Russia will slant their reportage for Russia and those for Ukraine/NATO will do the same. Head or tail, humanity is the loser.

Strangely, diplomacy has been thrown to the dogs as every support for Russia or Ukraine is screwy. Only few countries including the United States and its allies bother to do anything positive but will not launch an outright war on Russia.

Sanctions from America and European nations are rife but how this can dissuade Putin is another question.

All he wants is for Ukraine to avoid joining NATO and perhaps EU or face an imminent destruction.

To understand the importance of storytelling during warfare, let us remember Josef Goebbels, the Propaganda and Enlightenment chief of Germany, during Hitler’s reign. *RHEEHOV ZDV WKH PRVW LQÁXHQWLDO EXLOGHUV of the ‘Adolf Hitler’ brand, by brainwashing all QDWLRQV WR EHOLHYH WKH\ ZHUH ÀJKWLQJ WKH WRWDO ZDU E\ GHSOR\LQJ VWRULHV WR ÁLS WKH VFULSW DQG SXW pressure on England.

Let us trace the Russian quest to attack Ukraine.

In March and April 2021, Russian president Vladimir Putin ordered the Russian military to begin massing thousands of personnel and equipment near its border with Ukraine and in Crimea, representing the largest mobilization since the annexation of Crimea in 2014.

This precipitated an international crisis due to concerns over a potential invasion. Satellite imagery showed movements of armour, missiles, and heavy weaponry.

The troops were partially withdrawn by June 2021 though the infrastructure was left in place.

A second build-up began in October 2021, this time with greater numbers of soldiers and with deployments on new fronts; by December over 100,000 Russian troops were massed around Ukraine on three sides. Despite the Russian military EXLOG XSV 5XVVLDQ R΀FLDOV IURP 1RYHPEHU to 20 February 2022 repeatedly denied that Russia had plans to invade Ukraine.

As a response to the Russian invasion of

Ukraine, the EU countries have imposed severe sanctions on Russia and its ally Belarus.

The Danish government advises Danish universities to suspend all cooperation with Russia and Belarus.

In line with the policy adopted by Universities of Denmark – the organization of the country’s eight universities – the IT University of Copenhagen will be suspending all bilateral institutional cooperation with Russia and Belarus with regard to innovation, education, and research. All exchange SURJUDPPHV ² IRU VWXGHQWV DV ZHOO DV VFLHQWLÀF SHUVRQQHO ² ZLOO EH VXVSHQGHG DQG VFLHQWLÀF conferences in Russia and Belarus will not be attended by researchers employed by the IT University of Copenhagen.

ITU is part of an exchange programme with a state university in Moscow, however, no ITU students are currently enrolled at the institution in Russia. Going forward, it has suspended cooperation with the university in question until further notice. Current Russian and Belarusian students already enrolled at ITU via exchange programmes will not be DͿHFWHG E\ WKH PHDVXUH In a pre-dawn TV address on February 24, President Putin declared Russia could not feel “safe, develop and exist” because of what he claimed was a constant threat from modern Ukraine.

Immediately, airports and military headquarters were attacked, then tanks and troops rolled in from Russia, Russian-annexed Crimea and its ally Belarus. Big cities have been shelled, neighbourhoods razed and millions of 8NUDLQLDQV KDYH ÁHG WKHLU KRPHV And yet Russia bans the terms war or even invasion, threatening journalists with jail if they do. For President Putin this is a “special military operation”.

0DQ\ RI KLV MXVWLÀFDWLRQV IRU ZDU ZHUH IDOVH or irrational.

He claimed his goal was to protect people subjected to bullying and genocide and aim IRU WKH ´GHPLOLWDULVDWLRQ DQG GH 1D]LÀFDWLRQµ of Ukraine. There has been no genocide in Ukraine: it is a vibrant democracy, led by a president who is Jewish.

“How could I be a Nazi?” said Volodymyr Zelensky, who has likened Russia’s onslaught to Nazi Germany’s invasion in World War Two. Ukraine’s chief rabbi and the Auschwitz Memorial have also rejected Russia’s slur.

UN Secretary-General Antonio Guterres said the General Assembly’s message was “loud and clear”. “End hostilities in Ukraine – now. Silence the guns – now,” he said in a statement. “As bad as the situation is for the people in Ukraine right now, it threatens to get much, much worse. The ticking clock is a time bomb.”

The GSMA also strongly condemns the Russian invasion of Ukraine. The situation is fast-moving, and various governments are considering broader sanctions against Russia. In light of this emerging situation and considering the tragic loss of lives, Mobile World Congress seems immaterial under the circumstances. MWC is a unifying event with a vision to convene the mobile ecosystem to progress ways and means that connectivity can ensure people, industry, and society thrive.

Aragba-Akpore is a member of THISDAY Editorial Board

329

T H I S D AY WEDNESDAY MARCH 16, 2022

ENIOLA ROBERTS writes that despite the setback, the Speaker is on the side of the women

COSMAS ODOEMENA canvasses the protection of journalists by all, be it government or warlords

GBAJABIAMILA AND THE WOMEN’S BILLS ,W ZDV D YHU\ KHDWHG VHVVLRQ 7KH 1LJHULDQ people and other external stakeholders were awaiting the outcomes of the FRQVWLWXWLRQ DPHQGPHQWV YRWLQJ 6LQFH WKH UHWXUQ RI FLYLO UXOH LQ WKHUH KDYH EHHQ VXVWDLQHG FODPRXU RQ WKH need to fashion the nation’s constitution WR UHÁHFW WKH FROOHFWLYH DVSLUDWLRQV RI the people. The 1999 constitution, many argued was forced on the people by the PLOLWDU\ ZLWKRXW WKH LQYROYHPHQW RI WKH Nigerian people.

7KH REYLRXV LQDGHTXDFLHV REVHUYHG in the nation’s grundnorm necessitated YDULRXV DPHQGPHQWV WKDW WKH GRFXPHQWV had underwent since the beginning of this republic in 1999.

The latest was the process that started

with regional public hearings that held across the nation last year, culminating in WKH YRWLQJ IRU YDULRXV DPHQGPHQWV LQ WKH parliament. ([SHFWHGO\ HYHU\ LQWHUHVW JURXS OREELHG WR KDYH WKHLU LQWHUHVWV SURWHFWHG in the most important national document.

7KH SURSRVDO WR KDYH D SHQVLRQ VFKHPH IRU principal federal legislators came under the hammer. Ditto for the three women ELOOV WKDW IDLOHG WR Á\ GXULQJ YRWLQJ RQ amended clauses in the 1999 constitution amendments.

The women requested for Indigeneship Bill, Citizenship Bill and the 35 per cent D΀UPDWLYH DFWLRQ RQ 3ROLWLFDO 3DUWLHV· ELOO $ ELOO VHHNLQJ WR JLYH DW OHDVW VORWV WR women as ministers and commissioners in WKH IHGHUDO DQG VWDWH JRYHUQPHQWV IDLOHG DW WKH XSSHU OHJLVODWLYH FKDPEHU $ WRWDO RI VHQDWRUV UHJLVWHUHG WR YRWH VHQDWRUV YRWHG \HV ZKLOH YRWHG QR and one abstained.

The bill, which was meant to guarantee WKH LQFOXVLYLW\ RI ZRPHQ LQ JRYHUQDQFH IDLOHG DV LW FRXOG QRW JDUQHU YRWHV needed for it to be passed. :RPHQ JURXSV LQFOXGLQJ ZLYHV RI JRYHUQRUV KDYH EHHQ WDONLQJ WRXJK RYHU the rejection of the women bills. They led protests to the gate of the National $VVHPEO\ WR YHQW WKHLU DQJHU In a statement signed by the Chairman, 1LJHULD *RYHUQRUV· :LYHV )RUXP 1*:) DQG )LUVW /DG\ RI (NLWL 6WDWH 0UV %LVL )D\HPL WR PDUN ,QWHUQDWLRQDO Women’s Day, they condemned what they described as brazen discrimination against Nigerian women.

7KH ÀUVW ODGLHV VDLG DV WKRVH ZKR IRUPHG half of the population of the country, their

JOURNALISTS ON WAR FIELDS

YRLFHV DQG OLYHV PDWWHU VWUHVVLQJ WKHUH FRXOG EH QR GHYHORSPHQW ZLWKRXW WKH IXOO and equal participation of women in all spheres of life.

They added that any country that continue to deliberately undermined WKH DGYDQFHPHQW RI ZRPHQ ZDV VLPSO\ VWLÁLQJ LWV RZQ DGYDQFHPHQW 0UV )D\HPL SURPLVHG WKDW WKH ZLYHV RI WKH JRYHUQRUV ZRXOG FRQWLQXH ZLWK ongoing engagement with a broad range of stakeholders to support the proposed constitutional amendments that would JLYH WKHP D JHQGHU IULHQGO\ FRQVWLWXWLRQ in Nigeria. $FFRUGLQJ WR KHU DV ZLYHV RI VWDWH H[HFXWLYHV WKH ÀUVW ODGLHV ZLOO PRXQW pressure on federal and state lawmakers to do the right thing and be true UHSUHVHQWDWLYHV RI WKH SHRSOH ZLWK ZRPHQ constituting at least 50 per cent.

7KH VWDWHPHQW UHDG ´(YHU\ 0DUFK communities around the world gather to commemorate International Women’s 'D\ ,:' ,W LV D WLPH WR UHÁHFW RQ WKH status of women and highlight the many areas in which their rights are still being undermined and assess progress made. ´,W LV D GD\ IRU JRYHUQPHQWDO DQG QRQ JRYHUQPHQWDO DFWRUV FRUSRUDWH ERGLHV GHYHORSPHQW SDUWQHUV DQG VRFLDO PRYHPHQWV WR PDNH FRPPLWPHQWV WR close gender gaps and address the many challenges women still confront in public DQG SULYDWH ´2YHU WKH SDVW WKUHH HOHFWRUDO F\FOHV WKH QXPEHU RI ZRPHQ LQ the National Assembly has been in steady decline. There are currently 109 senators in 1LJHULD ZLWK RQO\ VHYHQ ZRPHQ ´7KH +RXVH RI 5HSUHVHQWDWLYHV KDV members with only 13 women. There are DW OHDVW VWDWH +RXVHV RI $VVHPEO\ ZLWK no women at all. There are no female JRYHUQRUV 7KHVH GLVWXUELQJ VWDWLVWLFV show that there is a deep-rooted bias against women holding leadership positions, and if urgent steps are not taken, this picture will continue to go from bad to worse. ´2Q 0DUFK 1LJHULDQ ZRPHQ UHFHLYHG YHU\ GLVDSSRLQWLQJ QHZV IURP the National Assembly. The ongoing constitutional amendment currently has DPHQGPHQWV XS IRU GHEDWH 7KHUH DUH ÀYH ELOOV WKDW VHHN WR HQVXUH JHQGHU MXVWLFH and fairness. ´7KH %LOOV DUH $ %LOO WR FUHDWH DGGLWLRQDO seats for women to increase women’s representation in the Senate and House RI 5HSUHVHQWDWLYHV 7KLV %LOO ZLOO OHYHO WKH SOD\LQJ ÀHOG DQG OHDG WR D VLJQLÀFDQW number of women in the National Assembly, which currently stands at 5 per cent. The bill was rejected. ´$ ELOO WR HQDEOH 1LJHULDQ ZRPHQ transfer citizenship to foreign husbands, D ULJKW WKDW HYHU\ 1LJHULDQ PDQ PDUULHG to a foreign spouse enjoys. The bill was rejected. ´$ ELOO WR HQVXUH D΀UPDWLYH DFWLRQ of at least 35 per cent in political party DGPLQLVWUDWLRQ DQG DSSRLQWLYH SRVLWLRQV DFURVV IHGHUDO DQG VWDWH OHYHOV 7KH ELOO ZDV rejected. ´$ ELOO WR HQVXUH D PLQLPXP RI SHU cent ministerial or commissioner nominees are women. The bill was rejected. A Bill to allow a woman to become an indigene RI KHU KXVEDQG·V VWDWH DIWHU ÀYH \HDUV RI marriage. The bill was rejected.

Roberts writes from Lagos

The other day, a British correspondent Stuart Ramsay working with Sky News along with four of his colleagues was shot and wounded DIWHU KH FDPH XQGHU ÀUH LQ .\LY WKH FDSLWDO of Ukraine in the ongoing Russia-Ukraine war. They had tried to escape from the car they were in, but Ramsay took a slug in his lower back while a cameraman named Richie Mockler had two rounds splattered on his body armour. Russian reconnaissance unit ZDV DOOHJHG WR KDYH EHHQ UHVSRQVLEOH IRU WKH attack.

The Prime Minister of Britain Boris Johnson SUDLVHG WKH FUHZ IRU WKHLU EUDYHU\ VD\LQJ WKDW WKH\ ZHUH ULVNLQJ WKHLU OLYHV VR WKDW ´WKH WUXWK LV WROGµ ,Q D WZHHW KH VDLG ´)UHH SUHVV ZLOO not be intimidated or cowed by barbaric and LQGLVFULPLQDWH DFWV RI YLROHQFH µ Meanwhile, CNN’s Matthew Chance was on-air from Ukraine as he talked about the war and whether Ukraine’s determination was going to wane. He suddenly looked to the ground to see that he had been standing next to a grenade all the while. The experienced MRXUQDOLVW TXLHWO\ PRYHG DZD\ IURP WKDW DUHD while beckoning on his crew to follow him.

7KHUH DUH RWKHU MRXUQDOLVWV OLNH %%&·V &OLYH Myrie and chief international correspondent /\VH 'RXFHW ZKR KDYH NHSW PLOOLRQV RI YLHZHUV JULSSHG ZLWK WKHLU FKLOOLQJ GLVSDWFKHV IURP WKH ZDU ]RQH LQ .\LY During the war in Libya, Sara Sidner of &11 EUDFHG XS WR IHHG YLHZHUV LQIRUPDWLRQ RI KDSSHQLQJV LQ WKDW FRXQWU\ (YHQ WKH KHOPHW VKH ZRUH RQ KHU KHDG DQG WKH EXOOHWSURRI YHVW GLG OLWWOH WR PDVN WKH IHDU WKDW ZDV YLVLEOH LQ her eyes.

As I wrote in an article during the Libyan war, journalists are often caught in the FURVVÀUH GXULQJ ZDUV $V WKH ZDU UDJHG UHEHOV WRRN RYHU 7ULSROL LQ WKH HQGJDPH RI 0XDPPDU *DGGDÀ·V \HDU UHJLPH $W WKH 5L[RV KRWHO MRXUQDOLVWV ZKRP *DGGDÀ KDG SHUPLWWHG WR FRYHU WKH ZDU ZHUH KHOG IRU VRPH GD\V EHIRUH they were released.

Incidentally, Matthew Chance was among those journalists. Recollecting that experience KH VDLG ´$V D IRUHLJQ FRUUHVSRQGHQW , KDYH FRYHUHG FRQÁLFWV DOO RYHU WKH ZRUOG LQ Afghanistan, Iraq, Chechnya, the Balkans, DQG *HRUJLD EXW , KDYH QHYHU H[SHULHQFHG DQ\WKLQJ OLNH WKH ÀYH GD\V , KDYH MXVW VSHQW LQ WKH 5L[RV +RWHO LQ 7ULSROL KHOG FDSWLYH E\ D JURXS RI .DODVKQLNRY EUDQGLVKLQJ \RXQJ IDQDWLFDO *DGGDÀ OR\DOLVWV 7KHUH ZHUH moments when I did not think I’d come out RI WKH SODFH DOLYH EXW ZKDW , IRXQG KDUGHVW to cope with was accepting my complete loss of control. My fate was out of my hands.” He ZHQW RQ ´2QH PRUQLQJ WKH VHFRQG GD\ RI us being held there, we took refuge from the shelling in the basement. When we came back upstairs, I found that the door of my room had been kicked in by the guards and my things ransacked. Nothing had been taken, but it was a chilling moment…I felt a curious mixture of HPRWLRQV , ZDV IULJKWHQHG 0\ ULJKW WR OHDYH had been taken away, I was in a dangerous SODFH DQG , KDG QR FRQWURO RYHU ZKDW ZDV happening. I’d spoken to my family and told them of the predicament I was in and urged them not to worry...”

During the Iraq War, embedded journalism was introduced by the U.S. Department of Defense, which allowed journalists to be DWWDFKHG WR D PLOLWDU\ XQLW RQ WKH EDWWOHÀHOG 7KLV PDGH WKH SUHVV KDYH PRUH DFFHVV WR information as it was happening. But with this, WKHUH ZDV DQ LQFUHDVHG ULVN WR WKHLU OLYHV ,Q D ERRN HQWLWOHG %ORRG %URWKHUV 7,0( VHQLRU correspondent Michael Weisskopf wrote about how he lost his right hand in Iraq in 2003 on

Ramsay KLV ZD\ WR SURÀOH WKH $PHULFDQ VROGLHU DV ´3HUVRQ RI WKH <HDUµ IRU WKH PDJD]LQH ,Q D heroic show, he had picked a hand grenade WKDW KDG ODQGHG LQWR WKH KXPYHH LQ ZKLFK KH KDG EHHQ ´HPEHGGHGµ %\ WKDW TXLFN UHDFWLRQ KH VDYHG KLV RZQ OLIH DQG WKRVH RI TIME ace photographer James Nachtwey, and some soldiers. ,W LV JRRG WR KDYH UHDO WLPH UHSRUWLQJ LW is also good to consider these journalists LQ WKH IURQWOLQH 8QGHU WKH *HQHYD &RQYHQWLRQ MRXUQDOLVWV DUH WR EH WUHDWHG DV FLYLOLDQV LQ WLPHV RI ZDU VR NLOOLQJ RU harming them is seen as a war crime. Many PHGLD RUJDQLVDWLRQV LQ RWKHU WR FRQVHUYH IXQGV HQJDJH IUHHODQFHUV RU ´VWULQJHUVµ LQVWHDG RI IXOO WLPH VWDͿ 7KH\ DUH RIWHQ QRW SURWHFWHG ZLWK LQVXUDQFH VRPH RI WKHP DUH young and inexperienced.

In the late 1980s, the Dutch Union of Journalists championed the issue of MRXUQDOLVWV· VDIHW\ DQG D ZRUOGZLGH DFWLRQ programme was later launched by the ,QWHUQDWLRQDO )HGHUDWLRQ RI -RXUQDOLVWV ,)- WR UHGXFH WKH ULVNV MRXUQDOLVWV IDFH during wars. It went on to publish a safety guidebook, and it also looked WKURXJK LQVXUDQFH SROLFLHV IRU VWDͿ DQG freelancers, and came up with safety FRXUVHV ZLWK HPSOR\HUV DV ZHOO DV ÀUVW aid courses and training on the types of weapons that journalists could confront in warfare. The journalists’ body ensured that media companies took their share of UHVSRQVLELOLWLHV 1RZ VHYHUDO ,)- PHPEHU unions, together with media companies and PLOLWDU\ DXWKRULWLHV KDYH LQWHQVLYH DUPHG FRQÁLFW SUHSDUDWLRQ WUDLQLQJ SURJUDPPHV for their members. Some media unions KDYH LQFOXGHG WKH ULJKW WR VDIHW\ WUDLQLQJ LQ WKHLU FROOHFWLYH DJUHHPHQWV ZLWK WKHLU FRPSDQLHV 7KH ,)- DQG LWV PHPEHUV KDYH DOVR OREELHG IRU HTXDO EHQHÀWV IRU freelancers.

7KH ,)- KDV DQ DOO HQFRPSDVVLQJ ´VXUYLYDO JXLGHµ IRU FRUUHVSRQGHQWV ZKR FRYHU FRQÁLFWV ´/LYH 1HZV $ 6XUYLYDO Guide for Journalists.” It has information on equipment, preparations, training, SUHFDXWLRQV LQVXUDQFH ÀUVW DLG DQG SRVW traumatic stress disorders.

Journalism is like a humanitarian aid group, just like Doctors Without Borders, and the Red Cross, so they should get equal treatment. It is also reprehensible to abduct RU NLGQDS RU NLOO MRXUQDOLVWV *RYHUQPHQWV the military, and warlords should help protect journalists in their domain, whether GRPHVWLF RU IRUHLJQ 7KH ÀUVW FDVXDOW\ of war is truth. It is also true that many families of journalists who want to tell the world the truth would be grateful if their ORYHG RQHV UHWXUQ WR WKHP VDIHO\

Dr. Odoemena, medical practitioner, writes from Lagos

4 30

T H I S D AY WEDNESDAY MARCH 16, 2022

EDITORIAL

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

THE AVIATION FUEL SCARCITY There is need for a quick intervention

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or the past two weeks, airlines operating LQ 1LJHULD KDYH IDFHG GL΀FXOW\ LQ REWDLQLQJ DYLDWLRQ IXHO NQRZQ DV -HW $ DW WKH ULJKW SULFH DQG LQ WKH TXDQWLW\ demanded. The hardest hit are domestic FDUULHUV 2Q 0RQGD\ PHPEHUV RI WKH $LUOLQH 2SHUDWRUV RI 1LJHULD $21 VDLG WKH\ KDG RQO\ WKUHH PRUH GD\V WR Á\ EHFDXVH RI WKH ULVLQJ FRVW DV ZHOO DV VFDUFLW\ RI DYLDWLRQ IXHO )RU DQ RLO SURGXFLQJ FRXQWU\ WKLV LV DQRWKHU HPEOHP RI VKDPH WKDW VKRXOG WDVN WKH DXWKRULWLHV According to the AON, from N190 per litre in -DQXDU\ WKLV \HDU RLO marketers increased the SULFH RI WKH SURGXFW WR 1 SHU OLWUH DQG E\ WK )HEUXDU\ LW URVH to N405 per litre. Since then the price has been LQFUHDVLQJ ZLWKLQ KRXUV VXFK WKDW ZLWKLQ WKUHH GD\V ODVW ZHHN LW URVH IURP 1 WR 1 1 DQG 1 ,QGXVWU\ VWDNHKROGHUV EHOLHYH WKDW D TXLFN LQWHUYHQWLRQ LV QHFHVVDU\ %HVLGHV LQÁXHQFLQJ WKH FRVW RI DLU WLFNHW WKH KLJK SULFH RI DYLDWLRQ IXHO KDV LPSOLFDWLRQ RQ VDIHW\ EHFDXVH LQ WKH ELG WR UHFRXS FRVW DLUOLQHV PD\ EH WHPSWHG WR WR\ ZLWK WKH H[WHQVLRQ RI PDLQWHQDQFH GDWHV (YHU\WKLQJ VKRXOG be done to avert that.

Perhaps more worrisome is that since the rapid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

LW DͿHFWV HYHU\ RWKHU VHFWRU RI WKH HFRQRP\ 7KH DLUOLQHV KDYH ORVW KXJH UHYHQXHV GXH WR LQDGHTXDWH VXSSO\ RI WKH SURGXFW DQG WKLV KDV ORZHUHG WKH SDVVHQJHU WUD΀F RQ GRPHVWLF URXWHV DQG WKUHDWHQV WKH VXVWDLQDELOLW\ RI 1LJHULDQ FDUULHUV ,Q UHFHQW ZHHNV airlines operating in or from Nigeria have become QRWRULRXV IRU GHOD\HG DQG FDQFHOOHG ÁLJKWV 7KLV KDV DOVR OHG WR VR PXFK XQFHUWDLQW\ IRU SDVVHQJHUV DQG WKH RSHUDWRUV WKHPVHOYHV ,QFUHDVLQJO\ DLU WUDQVSRUWDWLRQ LV EHLQJ WKUHDWHQHG LQ WKH FRXQWU\ DQG WKH DXWKRULWLHV PXVW LQWHUYHQH TXLFNO\ %\ LWV ORFDWLRQ DQG SDVVHQJHU WUD΀F /DJRV VKRXOG QDWXUDOO\ EH WKH DYLDWLRQ KXE LQ :HVW DQG &HQWUDO $IULFD %XW Nigeria is losing this to $FFUD *KDQD EHFDXVH of high price of aviation IXHO SRRU LQIUDVWUXFWXUH and exorbitant charges E\ JRYHUQPHQW DJHQFLHV That, we insist, cannot be acceptable. Nigerian airlines need an average of PLOOLRQ OLWUHV RI IXHO D GD\ ZKLOH LQWHUQDWLRQDO FDUULHUV DQG SULYDWH MHW RSHUDWRUV UHTXLUH DERXW OLWUHV D GD\ %XW VFDUFLW\ KDV DOZD\V EHHQ FUHDWHG DURXQG WKH SURGXFW DOWKRXJK LW ZDV QHYHU this bad. $V WKLQJV VWDQG WKH RQO\ ZD\ WKH SULFH RI DYLDWLRQ IXHO DQG RWKHU SHWUROHXP SURGXFWV FDQ EH GHWHUPLQHG E\ PDUNHW IRUFHV LQ 1LJHULD LV LI WKH FRXQWU\ UHÀQHV WKH SURGXFWV ORFDOO\ 7KH URDG DKHDG LV WULFN\ 7KH ZDU EHWZHHQ 5XVVLD DQG 8NUDLQH PD\ PDU WKH LPSRUW RI UHÀQHG SHWUROHXP SURGXFWV DQG QRQ DYDLODELOLW\ RI PRVW RI WKH YHVVHOV WKDW VKLS WKH SURGXFW WR 1LJHULD ZLOO KLNH WKH SULFH $OVR ZLWK WKH LQFUHDVH LQ WKH SULFH RI FUXGH RLO FRVW RI UHÀQHG SHWUROHXP SURGXFWV LV OLNHO\ WR VRDU EH\RQG WKH UHDFK RI PDQ\ 1LJHULDQV 7KH FRQVHTXHQFH LV WKDW ZKHQ DLUOLQHV FDQ QR ORQJHU DͿRUG WKH FRVW RI DYLDWLRQ IXHO WKH\ ZLOO JURXQG WKHLU RSHUDWLRQV 7KDW ZRXOG EH FDWDVWURSKLF IRU WKH QDWLRQDO HFRQRP\ 7KH IHGHUDO JRYHUQPHQW PXVW HQVXUH WKDW WKLV GRHV QRW KDSSHQ

Air transport plays critical role in the economy of any nation. When aviation is paralysed, it affects every other sector of the economy

T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

Letters to the Editor Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive.com along with photograph, email address and phone numbers of the writer.

LETTERS ANAMBRA’S ACTS OF BARBARITY /HVV WKDQ D ZHHN DIWHU WKH ,QWHUQDWLRQDO :RPHQ·V 'D\ IRU ZDV FHOHEUDWHG RQ 0DUFK VKRFNLQJ LPDJHV KLW WKH LQWHUQHW RI KRZ RQH 0UV $MXHVH Obiorah was beaten, stripped naked and forced to VZHDU DQ RDWK EHIRUH D GHLW\ LQ (]LDJXOX 2WX $JXOHUL $QDPEUD (DVW /RFDO &RXQFLO DUHD RI $QDPEUD 6WDWH 7KH EDUEDULF FUXHOW\ ZDV YLVLWHG RQ WKH ZRPDQ RQ WKH XQIRXQGHG DOOHJDWLRQV RI KDYLQJ NLOOHG KHU KXVEDQG E\ HQJDJLQJ LQ H[WUDPDULWDO DͿDLUV 1RZ words cannot be minced that no matter the provoFDWLRQ QRERG\ PDQ ZRPDQ DQG FKLOG VKRXOG EH VXEMHFWHG WR WKH NLQG RI FUXHO WUHDWPHQW WKDW 0UV 2ELRUDK ZDV VXEMHFWHG WR DQG IRU ZKDW XQIRXQGHG DQG HYHQ ODXJKDEOH DOOHJDWLRQV 6KH ZDV VDLG WR KDYH NLOOHG KHU KXVEDQG E\ HQJDJLQJ LQ H[WUDPDULWDO DͿDLUV DOOHJDWLRQV KHU WUDGXFHUV ZRXOG VXUHO\ VWUXJJOH WR SURYH LQ FRXUW JLYHQ WKDW WKH VXSSRVHG FLUFXPVWDQFHV XQGHU ZKLFK 0UV 2ELRUDK ZDV VDLG WR KDYH NLOOHG KHU KXVEDQG DUH QRW DQ\ NQRZQ WR ODZ 7KLV PDNHV DOO WKRVH ZKR SDUWLFLSDWHG LQ WKH DFWV RI YLFLRXV FUXHOW\ YLVLWHG RQ 0UV 2ELRUDK FULPLQDOO\ FRPSOLFLW LQ WKH LQKXPDQ DQG LQKXPDQH WUHDWPHQW RI WKH ZRPDQ

)RU WKLV WKH\ PXVW EH ÀVKHG RXW DQG SURVHFXWHG 7KH\ FDQQRW KLGH XQGHU DQWLTXDWHG DQG H[WUHPHO\ FUXHO FXVWRPV DQG WUDGLWLRQV WR HVFDSH MXVWLFH IRU WKHLU DFWLRQV 7KLV DWWDFN ZKLFK LV VXUHO\ RQH WRR PDQ\ LV HPEOHPDWLF RI WKH KRUUHQGRXV WUHDWPHQW ZRPHQ DUH VXEMHFWHG WR WKH KDQGV RI FDOORXV FXVWRGLDQV RI EDUEDULF FXVWRPV DQG WUDGLWLRQV ,Q IDFW WKDW WKLV RQH KDV FRPH WR OLJKW DQG GUDZQ D FKRUXV RI condemnation is thanks to social media. Otherwise, PDQ\ ZRPHQ VXͿ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ene Obiezu, keneobiezu@gmail.com

NYESOM WIKE VS GODWIN OBASEKI , DP ,DQ )OHPLQJ·V QRYHO IDQ , ORYH WKH VHULHV , ZLOO OLNHQ WKH ÀJKW EHWZHHQ :LNH DQG 2EDVHNL WR DQRWKHU ,QVWDOOPHQW 3OHDVH GRQ·W DVN PH WKH WLWOH $V LQ HYHU\ ERQG PRYLH WKHUH LV D YLOODLQ WKH VKRFNLQJ SDUW LV 1LJHULDQ SROLWLFLDQV DUH YLOODLQRXV LQ QDWXUH $V ZH VHDUFK IRU ZKR ZLOO SOD\ -DPHV %RQG RU %ORIHOG LQ WKH SORW OHW·V JHW VRPH SHUVSHFWLYH LQ 2EDVHNL DQG KLV GHSXW\ KDYH IRXQG LW GL΀FXOW WR WDNH WKH SDUW\ VWUXFWXUH RI WKH 3'3 DV PRVW JRYHUQRUV GR LQ HYHU\ VWDWH 7KH\ KDYH FDOOHG RQ WKH 3'3 WR KHOS LQWHJUDWH WKHLU RZQ SHRSOH IURP $3& 7KLV KDV FDXVHG D ORW RI ULIW LQ WKH SDUW\ ,W·V EHHQ FRQVWDQW ÀUHZRUNV DQG 0RORWRY FRFNWDLOV LQ WKH 3'3 LQ (GR 6WDWH 0DQ\ DWWHPSWV KDYH EHHQ PDGH WR VHWWOH LW EXW WKH SRZHUV WKDW EH LQ WKH 3'3 ZDQW WR UHWDLQ WKHLU DXWKRULW\ DV WKH\ VHH 2EDVHNL DV D MRXUQH\PDQ +LWKHUWR 2EDVHNL ZDV LQ WKH $3& EXW VRXJKW 3'3·V KHOS ZKHQ KH FRXOGQ·W JHW D WLFNHW LQ WKH $3& :LNH SOD\HG D NH\ UROH LQ KLV HPHUJHQFH :LNH FODLPV Obaseki came to thank him after the elections. There DUH SLFWXUHV WR LQGLFDWH D YHU\ UREXVW UHODWLRQVKLS EHWZHHQ WKH WZR DFWRUV 1RZ :LNH LV XSVHW DW WKH RXWEXUVW RI WKH GHSXW\ JRYHUQRU DQG FDOOV RQ WKH 3'3 WR GLVFLSOLQH WKHP ,Q WUXWK WKH GHSXW\ JRYHUQRU ZDV

MXVW SOD\LQJ WKH JRYHUQRUV VFULSW ,W KDV QRZ EHFRPH D VTXDUH XS EHWZHHQ :LNH DQG 2EDVHNL :LNH UHSOLHG UHFHQWO\ ZKHQ 2EDVHNL FDOOHG KLP D EXOO\ 2EDVHNL KDG WR WDNH DQ DGYHUWRULDO LQ WKH SDSHU WR KLW :LNH :LNH QRZ IHHOV KXUW DQG D΀UPV WKDW 2VKLRPROH ZDV KLWKHUWR ULJKW DERXW 2EDVHNL·V GLVOR\DOW\ 7KH WZR KHDY\ ZHLJKWV DUH PRUH FRQFHUQHG DERXW DQ HJR ÀJKW WKDQ WKH SOLJKW RI WKHLU SHRSOH 7KH\ FDQ LQYHVW HQHUJLHV LQWR WKURZLQJ YLUWXDO SXQFKHV UDWKHU WKDQ WKLQNLQJ RI WKH VXͿHULQJV RI WKHLU SHRSOH )RU JRRG PHDVXUH 5LYHUV 6WDWH VXͿHUV KLJK XQHPSOR\PHQW UDWH ZKLOH (GR 6WDWH KDV LWV RZQ FKDOOHQJHV , ZRXOG KDYH WKRXJKW WKHLU SULRULWLHV VKRXOG EH WR ÀJKW DERXW WKH ZHOIDUH RI WKHLU SHRSOH EXW LW·V DERXW WKHLU HJR , FRQVWDQWO\ VD\ GRQ·W GLH LQ their war and it is indicative these politicians care too PXFK DERXW WKHPVHOYHV 6R LQ WKLV SORW ZKR LV -DPHV %RQG RU %ORIHOG" ,V LW WKH PDQ ZKR FODLPV KH ZDV EHWUD\HG RU WKH SHRSOH WKDW DUH FRQVWDQWO\ EHWUD\HG E\ WKHLU OHDGHUV" Rufai Oseni, rufaioseni@gmail.com

31

WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

THE ALTERNATIVE

with RenoOmokri

Chidinma: The Glamourisation of Crime T he news that Chidinma Ojukwu, the self-admitted killer of the CEO of Super TV, Usifo Ataga, took part in, and won a beauty pageant from prison is not as shocking as Nigerians' reactions to the report.

Nigerians not only justified the act, many even celebrated it. And it leaves you wondering if our leaders are really the problem, as many pundits have opined. With followers behaving this way, perhaps we need to reassess the problem.

Some have even said that this is a normal practice abroad and there is nothing wrong with it. Not only is that patently untrue, it also betrays our inferiority complex as a nation.

As I said above, it is not true. Yet, even if it were true for the sake of argument, does it mean that because it is done abroad, it is alright for us to do it? Shouldn’t our policies and regulations be sourced from our culture, as long as it is not repugnant?

Why would we be expected to do what the Western world does?

To set the record straight, let me state clearly that no developed nation will allow prison or correctional officials to organise a beauty pageant in prison and then glamourise the winners. If those pushing that narrative have examples of such incidents, then I stand to be corrected. Let them produce such examples.

Glamour is different from rehabilitation! Under Buhari, opposition politicians are in jail. How will Nigerians feel if they win elections from jail?

What about Evans, the kidnapper? What about Nice Andrew Omininikoron, the BRT bus driver who is suspected of killing Bamise Ayanwole. How would we feel if we hear that they have won a Mr. Macho contest from prison? We are just justifying evil because a pretty girl is involved!

To those saying a beauty contest is rehabilitation and correctional, why were we all annoyed when Buhari had a graduation party for so-called repentant Boko Haram? Between graduation party and beauty contest, which is more outrageous?

It even makes more sense to educate terrorists than to glamourise alleged murderers. Education, skill acquisition and religious activities are correctional.

Chidinma A beauty contest is a luxury! Luxuries are rewards.

Prison is not a place for rewards.

Scripture says, “Because sentence against an evil work is not executed speedily, therefore the heart of the sons of men is fully set in them to do evil”-Ecclesiastes 8:11. If our prisons become places for luxurious and vain living, then criminals would lose their fear of prison, and crime will multiply in society because of impunity!

A prison is a place of punishment and rehabilitation.

Once it becomes a place of fun and glamour, then the whole purpose is defeated.

How would the family of Usifo Ataga feel to see Chidinma prancing about as a beauty queen in prison? That is unacceptable. Heads should roll! And

if heads do not roll, we must ask whether Chidinma has a prison official daddy who she is making very happy. Because the state of her hair, skin, clothes, and shoes are better than 99% of females that are free in the world outside prison!

And the media should stop calling her an ‘alleged killer’. She admitted killing Usifo Ataga on camera. Once there is an admission, the charge is no longer alleged. It is proven. What is in doubt are the circumstances. Did she do it while under the influence of fear, drugs, or something else that we do not yet know? But that she did it is fact, not allegation.

I just pray that Nigeria will not wake up tomorrow to hear that Chidinma is pregnant for her zaddy in prison. With the way we reason in this country, we will justify it. We will say things like, ‘she is only a prisoner. Her rights are not imprisoned. Making love is reformatory!’

Or perhaps, we may hear that she has been appointed as a brand ambassador for a beauty product. It would not surprise me. Nigerians would also justify that.

They would say ‘you could go girl!’ Sadly, that is the way many of us reason in our society. That is why we fell for Buhari’s propaganda and are suffering the result. That is why we believed a lying blackmailer like Omoyele Sowore, who is himself suffering from retributive justice. And that is why an odious fellow, like Bola Tinubu, thinks he can become our President.

Because he knows us only too well!

As our young people would say, Nigeria na heavy cruise.

Babachir Lawal was visiting Buhari at Aso Rock while being tried by EFCC. Abba Kyari was attending the IGP’s son’s wedding party while on suspension.

Chidinma wins a beauty queen from prison.

Ganduje, the dollar man, donates 10 million to EFCC. Buhari holds a graduation party for Boko Haram.

Governor Aminu Masari takes photos with bandits.

Sheikh Gumi wants Nigeria to pay reparations to bandits.

And Bullion Van Tinubu (AKA Atole) wants to

be our President, while a common blackmailer, like Sowore, who blackmailed people for Buhari and APC before 2015, wants to succeed them!

Is Nigeria a Zee World drama?

Serious work has to be done by the National Orientation Agency to restore the moral fabric of society because our churches and mosques are not going to do it. They have shown that they are also part of the problem.

The minds of Nigerians have to be renewed and regenerated. Yes, leadership is an issue, but this Chidinma affair has shown that we the followers have serious issues. We ratify evil and call bad good.

And as Scripture asks: “If the foundations be destroyed, what can the righteous do?”-Psalm 11:3.

Right-thinking people who are condemning the show of shame that took place at the Kirikiri Correctional Centre are now being made to appear evil. We are more or less morally a dystopian society where the inmates are running the asylum.

That is the only conclusion I can draw from the mass applause and defence of Chidinma’s new status as a celebrity beauty queen.

My people, my people! What has happened to the moral fabric of Nigeria? A lot. A lot!

Reno’s Nuggets When you are in your teens and early twenties, it is alright if all you can talk about are the hottest babes and guys, or the hottest movies and songs, or the hottest new dance steps. But life is about growth. If that is still your conversation at 30, then you are emotionally stunted. Move on to the hottest shares and business deals. Talk about the hottest passive income ideas. Don’t think that your job alone can save you from poverty.

Think of a chair. A chair needs four legs to stand on.

But if you take off one leg, the chair may still stand on three legs. But once the legs have been reduced to two, that chair can’t stand. You need at least three streams of income if you want to stand above poverty! #RenosNuggets #FreeLeahSharibu

INTERVIEW

Delves: How Leaders Can Build a Culture of Innovation

Oxford University-trained eminent Prof.

Roger Delves shares insights into why building and leading a culture of innovation is needed to succeed in this interview. He also explains why executives should attend TEXEM UK's forthcoming programme on 'Leading And Building A Culture Of Innovation For Sustainable Success'. He and world-renowned Professor Randall Peterson of London Business School would help deliver this TEXEM executive development programme slated to hold virtually between March 23 and 24.

How can leaders build a culture of innovation? eaders build the cultures they want in their teams by championing that culture themselves – by being the embodiment of the culture they want.

So to build a culture of innovation, the leader must constantly be innovating – continuous innovation through striving to do things better, and discontinuous innovation through seeking to do different things.

Then they need to effectively communicate why their vision of ingenuity is critical for success. Also, the leader needs to inspire their team to enshrine experimentation as one of the key performance indicators across the board in the organisation.

Furthermore, the effective leader needs to empower the organisation to reward acts of creativity. The innovative leader will inspire managers and their team to create an ambience of; purpose, fun, care, collaboration and learning. Finally, the leader must also ensure that their organisational structure and systems allow the organisation to be agile, flexible, intrapreneurial and entrepreneurial. Examples of companies whose leaders have built innovation in their DNA include Tesla, Pixar and the government of Finland, who have embraced artificial intelligence and big data to optimise public sector impact.

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Why is innovation critical in turbulent times?

Turbulence is a sign of change happening.

Change is innovation in action – things are being done differently. There are opportunities to take these different things and do them better, and from what has changed can spring more new and

Prof. Delves different ideas—turbulence seeds innovation.

While some organisations will die during these volatile times, many more innovative ones will be born during these challenging times. For example, WhatsApp, Instagram and Uber are innovative organisations that have positively transformed lives and were founded in 2009 during the global financial crisis.

How could leaders shape culture?

Leaders shape culture because their team members and stakeholders constantly watch them. They shape culture by being transparent about what they want and then by being the culture they want. Leaders get the culture they deserve – if they model bad behaviour and poor culture, that is exactly what they will see flourish in their team. If they model good behaviour and a positive culture, they will flourish in their team. We will be covering more about this during TEXEM’s leading and building a culture of innovation for sustainable success virtual programme slated for March 23 and 24.

How could leaders effectively respond to change?

First, leaders must recognise change for what it is: is it internally or externally imposed, is it sudden change or incremental change and so on. We can only respond effectively to what we know and understand, so leaders must be masters of change, champions of change, and welcomers of change to see, understand, and lead through the changes imposed on their team. Leaders should be intellectually agile and have a growth mindset to respond to change effectively. The leaders need to be positive and be experts in interpersonal relations such that they pay attention to the peoples' input, impact and pushback on change. They need to communicate ‘why’ change is necessary and urgent. For example, the leader can say our organisations need to change so as not to be complacent like Blackberry, which was the market leader in 2010 with 43 per cent of the business market share of smartphones in many major markets, but the company is now dead.

Notably, an effective leader needs to communicate the purpose of the change.

While communicating the need for change, leaders could let their team know that change is critical for their existence.

For instance, our organisation needs to embrace change to avoid being in a state of denial. They could also use case studies of renowned organisations that failed, such as Kodak, to emphasise the need for change.

Kodak founded the digital camera but filed for bankruptcy in 2012 due to its focus on traditional photographic films that were no longer in high demand and their inability to keep pace with digital technology. There are still many Kodaks living in a state of denial out there, and their leaders need to get their organisations to embrace change or die. Leaders could also communicate positively about how change could help the organisation be in a constant state of renewal for effective and efficient achievement of individual, team and organisational goals.

How could leaders keep their team motivated in challenging times?

Different things inspire each of us, and the good leader has discovered the personal motivation

of each of their close team members. Understanding what motivates individuals and using that to drive the team forward is a crucial leader trait—having clearly understood the goals and a shared sense of purpose and doing something worthwhile will also help keep the team motivated. Motivation issues are fundamental as organisations embrace virtual work, and there are likely to be more instances of burnout and mental health challenges. Leaders can keep their people motivated by communicating regularly and building a culture of respect via listening, fairness, and creating a climate of psychological safety.

How could leaders develop organisations that optimise performance within a challenging operating context?

Many individuals expect to work in challenging surroundings and even relish the challenge – but what they want and need is to feel supported as they face the challenges that the organisation sets them or that the external environment sets them. If they feel supported and understood and in a team with a shared sense of purpose, then they will rise to a challenge, learn and thrive. We will be covering more on this during TEXEM's forthcoming programme on March 23 and 24.

Why should leaders attend this forthcoming TEXEM programme 'Building and Leading a Culture of Innovation'?

These are perhaps the most challenging times the world has faced since the dark days of the nineteen forties. Leaders are faced with huge problems, both at the logistical, tactical, and transactional level of getting things done and at the transformation, innovation, leadership, and strategic interchange where their leadership skills are being tested in new and different ways daily. The opportunity to pause, reflect and consider, under the guidance of wise figures world-renowned for; their wealth of experience and pedigree of helping organisations to thrive, is not one to be lightly passed over. The rigour of the TEXEM methodology that makes learning fun, facilitates networking and is impactful is another reason you should not miss this programme.

These informed insights are not to be had every day.

For more information, please visit https://texem. co.uk/leading-and-building-culture-of-innovationfor-sustainable-success/ Call +44 7425 883791 or email exec@texem.co.uk

T H I S D AY ˾ WEDNESDAY MARCH 16, 2022

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FEATURES

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

Unicorn and the Nigerian Spirit of Entrepreneurship The untapped possibilities abound in Nigerian inventors were recently exhibited at an innovative summit in Lagos. The Minister of Information and Culture and several innovators from across the world attended the event and undertook a guided tour of the Unicorn hub, Olawale Ajimotokan reports

L-R: Tony Amosun , Kenny Nwosu, Fredrick Georgias, Samantha Peterson and Osh Agabi, offer technical insight on creativity, innovation and story-telling at the event

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he Nigerian inventors displayed their capacity for innovation and desire to represent and build a country driven by technology and idea when Unicorn, a Pan- African investment company that targets innovative ideas, start-ups and early stage companies in the technology enabled sectors across the continent, recently assembled a panel of investors and entrepreneurs to its hub in Yaba, Lagos.

Notable international investors that attended the talk-shop, included Fredrick Georgias from Antigua and Barbuda and Samantha Peterson from South Africa. Others were Nigerians Osh Agabi, Tony Amosun and an investor based in Bostwana, Kenny Nwosu.

The Minister of Information and Culture, Alhaji Lai Mohammed was the special guest at the session where Nigerian and African start ups were urged to network and look for competence as the only way to move forward as a people.

Mohammed, who visited and spent time with entrepreneurs to find out what they do, thanked Unicorn for bringing children from different disadvantaged communities into its eco system. He described the hub as a true reflection of the Nigerian spirit, showing that impossible is neither Nigerian nor African. ''This is where dreams come true. This is where ideas are born and they become reality. Having the young ones, from primary to secondary to tertiary institutions, to see the best of Nigeria and the best of Africa is massive,'' Mohammed said, in reference to the many students he met at the Yaba campus.

The Chairman of Unicorn, Dr Akintoye Akindele, said the company is a hub for the identification, incubation and development of ideas into companies where education is fused with innovation and skills.

Akindele pleaded that in order to achieve development Micro, Small and Medium Enterprises (MSME) must be supported to transit into mega companies.

He said that Unicorn, which also provides education, training, mentorship, infrastructure, and long- term capital to entrepreneurs is open to all Nigerians who have ideas and can be supported to incubate and develop the ideas through mentorship with major CEOs as well as access to free server, physical library and virtual bookshops connected to campuses around the world to access knowledge.

“The only way we can move forward as a

L-R: Vice Chancellor, University of Lagos, Prof. Oluwatoyin Ogundipe; Minister of Information and Culture, Alhaji Lai Mohammed; and the Chairman of Unicorn, Dr. Akindele Akintoye during the inspection tour of the Unicorn Incubation Campus in Lagos by the minister people is to get together. Africans must learn to build by networking, by mentoring, by access to market, by exposure and by deliberate partnership. Those are the things that will ensure that competence becomes the mainstream. Capacity and education are keys in Africa, the foundation of our next 10 years as African and Nigerians.

"All the competence will always be the strong loops. Our first mandate is to show the best of us to the rest of the world through capacity and that is what we are doing. The next step is to tell our story and tell it very well. Truly great brands

have done one thing very well—they have gone beyond the contents to the possibilities.

We must tell our own narratives and sell our own dreams. We don’t sell our dreams enough. Without telling our story how do we sell our dreams? By doing that we are creating a future and space where our young ones can go into and dominate and run the world like kids that they are,” Akindele said.

US- based Agabi, who is a robotic engineer and the CEO of Koniku has received funding from tech giants in Silicon Valley to develop his “clinical cyborg” an innovation that detects more than 4,000 smells simultaneously, resulting in the potential diagnosis of a variety of disease.

He said that every young African should believe that the world is his and not the reserve

"Unicorn, which also provides education, training, mentorship, infrastructure, and long- term capital to entrepreneurs is open to all Nigerians who have ideas and can be supported to incubate and develop the ideas through mentorship..."

of Europeans and the Chinese.

His celebrated invention can also be used to prospect for oil as well as provide security at airports. Some of his customers include Airbus, which uses the technology to detect explosive compounds.

Nwosu, who is based in Gaborone, Botswana, said African investors should tell their story from their perspectives because they have a perspective that will give the world a better appreciation.

“Capacity building is about being curious.

It is about being inquisitive and not accepting the status quo and I think that is what we need to be open to. That it may have been right 40 or 50 years ago doesn’t mean it is right now. It might be right 10 years ago, but things have changed.

"How do we get the young people to dream and understand that failure is a path to success?

You need a framework to transit to get to that destination. We need to let people know that it is okay to try and explore. I think it comes from within,” Nwosu said.

Mohammed said one of the most impressive solution providers he met during the guided tour was a company that specialises in the production of reusable sanitary pads for young girls, many of whom miss school because they could not afford the relatively expensive sanitary pads in the market.

The minister decried the current situation in which less than 10 of the 900 Unicorn companies around the world are in Africa and urged Nigeria to emulate countries like China and India where smaller companies were nurtured and supported to become mega corporations.

One of the highlights of the innovation summit was the launching of the world's first Liquefied Natural Gas stove, which was invented by a team of young Nigerian entrepreneurs under Unicorn's tutelage.

The LNG stove that will be launched next month ahead of its export later in the year was invented by eight young start-ups led

by Bukunola Bolajoko and Martin Omodube.

The design is made up of a storage system where energy is kept as liquid at all times in addition to a re-gasification units, which is the use of novel method to convert LNG into natural gas.

The LNG stove will emit low carbon dioxide into the atmosphere and will make use of a special type of burner system that maximises thermal efficiency.

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T H I S D AY ˾ WEDNESDAY MARCH 16, 2022

FEATURES

IFMA Nigeria: Redefining the Facility Management Space Olutayo Irantiola

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outh-west Nigeria is renowned to have the first skyscraper in West Africa, this is the magnificent Cocoa house built and completed in 1965 located in Ibadan, Oyo State.

The 26-storey building is 105 meters high. It was the source of pride to farmers and Nigeria as a whole. In Lagos, the Nigerian External Communications (NECOM) building became the first skyscraper, a building of 32 floors.

After these buildings, many more skyscrapers and other magnificent buildings have sprung up across the country.

As times went by, these buildings were largely been managed by companies and individuals that offer janitorial services. This trend continued for many years until it was discovered by some professionals that there was a need for a special intervention that will champion holistic maintenance of the built environment regardless of the type of building.

Inferences of what was required for a new Association was drawn from the global practice of facility management and the best certifying organization across the world that can give life to a Nigerian group is the International Facility Management Association located in Houston, the United States of America, the largest Facility Management community in the world.

In 1995, a special group of professionals was drawn from all across the industries within the built environment ranging from Architects, Civil Engineers, Electrical Engineers, Builders amongst others had a burning desire to provide Nigeria with the opportunity of developing a maintenance culture that will shape the future of the country.

With this intent of setting up our quality improvement goals aimed at bringing the international standards of facility management to bear on maintenance of infrastructure in Nigeria.

This led to the initiation and establishment of the Nigerian Chapter of the International Facility Management Association, IFMA. By 1997, the incorporation of the Association was completed and it has since been a leading Association.

The Association has been dedicated to promoting excellence in the management of the built environment.

With a vision to universally represent facility management as a profession, IFMA’s mission is to lead and sustain the progress of the Facility Management profession.

Facility Management is a profession that encompasses multiple disciplines to ensure the functionality of the built environment by integrating people, place, process, and technology.

IFMA Nigeria has offered many people the opportunity to network and exchange information with other facility management professionals locally and internationally through conferences, seminars, chapter, and council programmes.

The Association also holds professional development seminars and trainings leading to the award of the world’s most recognized FM Certifications -Facility Management Professional (FMP); Certified Facility Manager (CFM) and lately, the Sustainability Facility Professional (SFP) designations. The chapter has produced over 300 FMPs and 30 CFMs to date.

The Association has two prongs of membership- the Individual and the Corporate Membership. The individual membership is open to

IFMA President, Mr. Segun Adebayo

anyone actively engaged in the application, practice, teaching, and researching of facility management, its principles, and techniques while the Corporate membership of IFMA Nigeria is open to all companies, institutions, or organizations that are mainly engaged in facility management from designs through manufacturing and procurement to execution or in providing services and commerce including professional firms.

Membership is equally open to other corporate organizations that value their facilities highly and employs facility Management principles for their upkeep.

In recent times, the Association has also organized a Knowledge Sharing Session.

This was put together for the members of the Association and other willing members of the public to mutually exchange their implicit and explicit knowledge so as to equip them for professional excellence.

Participants at the various sessions have got their individual and organizational performance increased for their career progression and the society at large.

The Association has been led by 11 Presidents namely- Mr. Bert Rybaczuk 1997-1998; Mr. Emmanuel Adesoye 1999 – 2000; Mrs. Carmen Latty – 2001 – 2002; Mr. P.K.O. Ojo – 2003 – 2004; Mrs. Marion Johnson – 2005 – 2006; Mr. Stephen Jagun – 2007 – 2008 and Engr. S.O. Soetan 2009 – 2010. Others are Engr. Tony Ezeaku 2011 -2012; Miss Iyabo Aboaba- 2013 – 2014; Mr. Richard Okesola – 2015 – 2016; Engr.

Pius Iwundu – 2017 – 2018; Mrs. Abimbola Olusegun-Adamolekun -2019 – 2020 and Mr. Segun Adebayo 2021 till date. They have all been instrumental to the growth and development of the Association.

IFMA Nigeria has not rested on its oars as they have continued to impact the society with various initiatives and programmes with government and private agencies. The Association alongside the University of Lagos has developed the curriculum for a professional master’s degree programme in Facility Management and some students of the programme have proceeded for their Ph.Ds overseas.

"With a vision to universally represent facility management as a profession, IFMA’s mission is to lead and sustain the progress of the Facility Management profession"

IFMA Nigeria Chapter has become the strongest advocate within the built space thereby raising a new generation of leaders within the building and construction industry. The Association has taken its advocacy programmes to Technical College, Agidingbi, and other tertiary institutions across the nation to encourage youngsters to become Facility Management Professionals.

They have also championed the training of artisans within the built environments that have led to more professionals in the industry. The Association has organized various programmes in collaboration with the Lagos State Development and Property Corporation (LSDPC) and other strategic initiatives with the other government agencies across the nation.

The global celebration of the Annual World FM Day and the Advocacy Day organized by the Association has become reference events in the professional circles as it has drawn participants from across corporate and social Nigeria.

Cheers to twenty-five years of impacting the built environment; cheers to the impactful leadership of IFMA and cheers to the Council Members over the years. Facility Management in Nigeria has scaled up among professional groups in Nigeria.

May their shadow never grow less.

-Olutayo Irantiola is a Lagos-based Public Relations Consultant. He blogs on www.peodavies.com and he can be reached via peodaviescomms@gmail. com and 08052048143.

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WEDNESDAY MARCH 16, 2022 •T H I S D AY

T H I S D AY ˾ WEDNESDAY MARCH 16, 2022

IMAGES

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

L-R: Board member, Nigerian National Petroleum Corporation (NNPC) Limited, Mrs. Lami Ahmed; Chairman, Society of Petroleum Engineers (SPE), Nigeria Council, Prof. Olalekan Olafuyi; Board Chairman, NNPC Limited, Senator Margery Chuba Okadigbo; Managing Director/CEO, Waltersmith Petroman Oil Limited, Mr. Chikezie Nwosu; and Managing Director, Shell Nigeria Exploration and Production Limited (SNEPCO), Elohor Aiboni, at the SPE Women Leadership Lecture Series 2022 in commemoration of International Women’s Day event in Lagos...recently

L-R: Vice President Yemi Osinbajo; Oyo State Governor, Seyi Makinde; and Alaafin of Oyo, Oba Lamidi Adeyemi, during the installation of 42nd Olubadan of Ibadanland, Oba Olalekan Balogun in Ibadan, Oyo State…recently

L-R: Friends of Edo-Osagie, Miss Mary Edo and Mr. Cyril Osajiede; celebrant, Mr. Nosa Edo-Osagie; other friends, Mr. Dennis Oyenerua and Dr. Philip Ogbole, during the Black Tie Dinner Buffet in honour of EdoOsagie’s birthday in Benin City, Edo State...recently

L-R: Founder and Executive Director of Small and Medium Enterprise(SME)100Africa,Charles Odii; Founder, Friendlies Sanitary Ware, and Winner of SME Pitch Competition, Nkem Obianwu; and Chief Customer and Marketing Officer at AXA Mansard, Jumoke Odunlami, during the AXA Mansard sponsored SME Pitch Competition in Lagos...recently

L-R: MultiChoice Talent Factory (MTF) Students, Samuel Ishola and Hope Eniayekan; Programme Manager, MTF West Africa, Tolulope Olowo-Okere; Film Director, Biodun Stephen; and another MTF Student, Adedamola Akapo, during the MasterClass with Biodun Stephen, sponsored by the MTF Factory West Africa held in Lagos…recently

L-R: Director, Unilever R and D Cluster Design Africa, Oral, Skin Care and Regulatory, Uchenna Nwakanma; the Deputy Managing Director, Falcon Corporation, Mrs. Audrey Joe-Ezigbo; Corporate Affairs and Sustainable Business Director, Unilever West Africa, Mrs. Soromidayo George; and Procurement Director, Unilever West Africa, Obinna Emenyonu, at the Unilever Nigerian International Women’s Day 2022 celebration, with the theme: ‘Equality is not Equal, Equity Is’, in Lagos…recently

L-R: The Iyasere of Oyede Kingdom (groom’s father), High Chief Eta Enahoro; Bride’s mother, Mrs. Elizabeth Okurame; the couple, Evezi and Ewoma Eta; the Aruterio I of Aviara Kingdom (bride’s father), Chief Benson Okurame; and the Evi of Oyede Kingdom (groom’s mother), Chief Stella Eta, during the couple’s wedding ceremony held in Lagos…recently

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WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

INTERVIEW

Leemon Ikpea: Lee Engineering’s Fabrication Yard to Be Major Manufacturing Hub Until now, equipment used in the oil and gas industry are imported. Even gas cylinders are brought in from overseas. All that will end soon, says the Chief Executive Officer of Lee Engineering & Construction Company Limited, Dr. Leemon Ikpea. In this interview with Bayo Akinloye, he talks about how Lee Engineering is investing in the future. It is setting up a fabrication yard that will become a manufacturing hub for many equipment used in the oil and gas sector. In addition to that, the firm is working with Shell on a gas project that is expected to change the landscape of domestic gas. Excerpts: Recently, Simbi Wabote, the Executive Secretary of the Nigerian Content Development & Monitoring Board (NCDMB), said one of the best policies the Nigerian government has implemented is the local content policy. It has accelerated the rate of development of indigenous firms. As a major player in the oil and gas sector, do you agree with that? h yes. What the executive secretary has said is 100 per cent correct. We have discussed several times the importance of the NCDMB since its inception. So many Nigerian companies in the oil and gas sector have sprung up. Thanks to the local content policy. If not because of the NCDMB Act signed into law some years back. You will recall that before enacting that act, Nigerians and indigenous firms are relegated to the background. Foreigners are completely in charge of the oil and gas industry.

It had always been a foreigners-dominated sector.

The foreigners back then would get the big contract, hire Nigerians and pay them peanuts to do the real job. Foreign firms enjoy the big proceeds. In that sense, the local content policy serves as the saviour to local players to feature more in bigger opportunities. In my humble opinion, it is one of the best policies put in place and followed through to engender development and improve the capacity of Nigerians playing in the oil and gas sector. It has not only changed the face of the industry. Its multiplier effects are beyond description. I have been in the industry for almost 45 years; I have seen the transformation brought about by the local content policy through the NCDMB. Today, Nigerians are fully involved in the sector. For instance, Nigerians are players in the marginal fields. Nigerians are involved in fabrication. Local companies are setting up fabrication yards, creating job opportunities for millions of Nigerians. These and more are products of local content policy.

It has allowed indigenous firms like Lee Engineering to be more involved in developing the oil and gas sector. We have established a factory fabrication yard, with over $100 million in the factory. It is by no means a mean feat for an indigenous company that has benefitted from the local content policy and the professional conduct of the NCDMB staff. Plans are underway to commission the factory this year, God willing. Credit also goes to the local content policy.

The board comprises professionals determined to develop local players’ capacity and spur national development. It is hoped the board will remain above board in its dealing. More important, it is hoped the government will continue to provide a conducive environment for the board. The government’s support of the board is key to providing gainful employment to Nigerian youths. So far, the board and the federal government are laying a solid foundation in the industry and for Nigerians. The local content board works very hard for the benefit of the country. They ensure that the IOCs comply with the regulations per the local content policy.

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Who are Lee Engineering’s international partners in the fabrication yard project it is currently building?

VDL KTI and Frames Systems are based in the Netherlands. Lee Engineering’s agreement with these international companies is based on fabrication will evolve into the manufacturing of heat exchangers, pressure vessels, and several other items in the oil and gas sector. These items, or rather, equipment, are usually imported. However, with the agreement, and by the time the factory is up and running, equipment will be manufactured in Nigeria. Through the transfer of technology, our foreign partners will support us because of the fruitful engagement with them.

You can describe this as a technically transferred technology; it is a big achievement for Nigeria and its citizens. The technology transfer will serve the country now and in the future. We hope that the government will support us and keep backing the

Ikpea

local content board. If the board is empowered more, it will do more. The board has been above board and devoid of political leanings.

If it stays that way, Nigeria will be the better for it. The NCDMB has been consistent and dynamic. The staffs are professional and want the growth of Nigerian companies. Their focus is to ensure that Nigerians are the main drivers of the oil and gas industry. That focus is really good news for Africa’s most populous nation’s economy; and, to be sure, a fertile ground for job opportunities. Nigerian youths are in for a lifetime of opportunities. We have a 10-year agreement that involves training our workers on this equipment. By the end of the 10-year programme of developing the capacity of our staff, the trainers can go back to their county, and our workers will take full control.

Why did Lee Engineering choose to work with these two firms, did the come highly recommended?

They are a global player in the oil and gas industry. VDL KTI is a competitive international company, and they came highly recommended.

We have been their clients for a long time. In that vein, we entered into a partnership from just being mere clients. Because of our transparency and honesty, the firm decided to help become manufacturers of equipment given the 10-year agreement; that way, Lee Engineering will be able to produce high-end machines. So far, we have trained at least 50 of our staff over there. By the time the factory is commissioned, more workers will be trained. That agreement includes some of our partners’ workers coming to Nigeria to train our local staff for 10 years. It’s a technical agreement.

What’s the update on the Imo gas project?

That’s a very important project, I should say,

and it is very crucial to national development.

It will be a domestic gas hub in Nigeria when completed. It’s the number domestic gas hub in Nigeria. In the master plan, it remains number one. In other words, that project is extremely important to the government because that will help to distribute gas to the IPP projects. Many IPP projects do not have gas to power their plants. It holds a lot of promises, providing cooking gas to households and lay pipes to distribute gas to estates.

It is the most important gas project in Africa. It is the first of its kind. When it is commissioned, it will benefit the state a lot, to start with as the host state. Nigerians can set up LPG plants for the commercial provision of cooking gas. Right now, they import; even the gas cylinders are imported into Nigeria.

And to let you know, we will be producing gas cylinders very soon. It is part of what we will be doing in the fabrication yard. It’s part of our plan. Again, we will say kudos goes to the local content board. It is a federal government project collaborating with Shell and indigenous firms like Lee Engineering in Imo. In Lee Engineering’s over 30 years in business, this appears to be the most daring investment. Was your decision solely profitbased informed your decision?

No. It is not. The decision for this massive investment is beyond the desire to make a huge gain. It is essential to develop Nigeria and its teeming, energetic generation of young men and women. Technology has become a driving force for many things globally. As a third-world country, the technology deficiency is there not only for Nigeria but also for many African nations.

In other words, no developed country or firm will drop technology know-how onto our laps.

The transfer of technology will not happen by

wishful thinking or by just asking for it. The agreement was first for two years, renewed for three years, and later renewed for five years. That brings the agreement to a total of 10 years. The investment is all-encompassing with its pivot on national and human capital development.

Who are Lee Engineering’s clients?

All the IOCs are our clients. NNPC is also one of our major clients.

Does Lee Engineering have plans to build a refinery in the future?

Well, it won’t be a bad idea but future circumstances will determine the possibility of having a refinery. It may happen.

What’s the strength of Lee Engineering’s workforce?

We have 2,000 workers. At least 800 of these are full staff. Despite the recession and the adverse effects of the COVID-19 pandemic, Lee Engineering does its best to provide for their welfare.

The get-rich-quick syndrome has become a bloody affair with incessant ritual killings.

As a successful businessman, what’s your advice for Nigerian youths?

They should know that life is not a bed of roses. They must understand every good thing starts with a step. They shouldn’t be in a hurry to fly, so to speak. It is often said: the journey of a thousand miles begins with a step. Using devious means to amass wealth will not bring genuine happiness, and such money will not last long.

Young Nigerians should learn and know that hard work and honesty still pay. Honesty is key. I started my business with a 40-foot container. My journey was progressive and enduring. Growth is a process. Sudden wealth is associated with a sudden end.

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T H I S D AY ˾ WEDNESDAY MARCH 16, 2022

EDUCATION Fowler-Amba: We’re Preparing Nigerian Girls to Be Captains of Industry, at Corridors of Power Mrs. Olufunke Fowler-Amba is the administrator of Vivian Fowler Memorial College for Girls, Oregun, Lagos. In this interview with Funmi Ogundare, she explained why the country needs to return to the village culture to curb vices among youths and depression and enhance the value system, among other issues. Excerpts:

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hat drives your passion for the growth and development of the school?

What we have seen is the spirit of excellence and good practice regardless of your limitations, whether it’s infrastructure or some of the things we battle in this environment. We realise that excellence is a way of life. It’s a mindset. Following global practices also is a way of life. It’s a culture. So what we have done is that we have implemented those tools into the culture of this school so that we know that everybody who is part of this community is thinking in the same way and towards achieving a growth mindset.

How often do you train your teachers?

Training is ongoing. I say this with all humility; many of us feel if we invest and train our teachers, they leave. But we have to understand something: training teachers affects the whole education landscape, so we have a social and moral responsibility when as find ourselves in the education space to ensure that all teachers are constantly trained.

Training for us is a natural thing. It’s a daily life skill that we do. We have meetings every morning at 7.15 am. We have short training, and we train on collaboration, skills and ways to engage students in the classroom. When you collaborate as a team, there is a lot more you can get done as a whole. So what we are doing is teaching to collaborate in the sense that there is a lot of accountability. We realise that sometimes soft skills are what limit us in this environment. So we are working tirelessly to make sure that our community is aware of the importance of soft skills, which is being accountable to whatever you are doing, which means that teamwork is crucial in whatever you do. All these are very important to us.

Your school clocked 20 last year. What has been the achievements and challenges?

For us, COVID-19 is what I will call a master of progress because it made us realise that through limitations, you can actually excel. So what we did was to put a lot of safeguarding into place such that that way, our system was ready for whatever crisis we faced. The children understood tenacity in a practical way. We realised that through technology and the use of Zoom, there were so many things we could accomplish. So we did not see 2020 as a challenge. We saw it as a master of progress because it made us realise that we could, through crisis, reach the zenith of our potentials.

It’s been said schools are confining education to classroom learning. How have you exposed your students to contribute to society?

We have to get away from just being academic.

We have to practicalise everything that we teach individuals under our care. How do we do this? The introduction of robotics and STEM has given the children the opportunity to really see what they are capable of. For instance, in preparing for the 2022 Lego league and tech challenge held recently, our children had to solicit sponsors, and they did it with such ease from individuals within their circle of influence. They interviewed people, presented their pitches and came together as a group. What we were doing is that we are allowing them to use their talents and use them in real-life situations. So you find out that somebody who is in charge of media has learnt how to build a website and pay for it, somebody who is in engineering, was able to successfully fill out an engineering book, that somebody who was in marketing, was able to raise funds for the group. So we saw different skills at play.

What future do you see for robotics and

bringing up children, and we are not bringing in the extended family. We are not allowing the village to take care of our children. We are pushing the responsibility on the school. The school are not primary parents but secondary.

We need to go back to the traditional way of family whereby we spend time with our children and eat as a family. Even by eating with your children, you learn so many things about them, so we need to bring those things back. I know that financially, it’s difficult for a lot of parents, but there are sacrifices we need to make. If not, there is going to be the decay of the family. Unfortunately, with this decay, it comes with drug abuse, depression and other things that society is not geared up to take care of at this time.

What is your view about bullying among students, and has the college experienced such an issue before?

It will be naive of me to say that bullying does not take place in any school. There has been a levy of bullying, but we don’t tolerate it. We don’t just speak about bullying; there are actions. Every child has to sign an antibullying policy not only when they come in but every term. We also have an update on what our anti-bullying policy is. I think it’s a lot of education. It goes back to teaching people about tolerance. We have documents which we give to each student and their parents.

There is also an orientation that students and staff go through. We have a zero-tolerance for bullying. We expel, that is also in our policy.

Fowler-Amba STEM in Nigeria with the different skills at play?

The future of the world is technology, regardless of where you find yourself. I see Nigeria going deeply into that. I am positive about the future of Nigeria because we have untapped talents, regardless of what is going on in society. We have to understand that we are relatively babies compared to other developed countries and the kind of talents that we have in Nigeria are untapped regardless of the slow or poor infrastructural devices that we have within our nation. We find out that people are still evolving. When you put a child in an infrastructure that is fully buoyant and structured, you see what happens. So I am very positive about the future of Nigeria because our youths are very talented regardless of what may be going on.

Your students exhibited a passion for robotics. Is it in the school’s curriculum?

Yes. What we are trying to develop is that we want to make our school a STEM school because we understand that technology is the future. We also understand that through technology, even your struggling students can gain skills that will make them marketable and add value to their careers when they move on to the next academic or employment space.

So what we are trying to do is that in our current curriculum, there aren’t enough of the skills you need to be able to work in the new job market. The future of work

is promoting collaboration, teamwork, and critical thinking, which we don’t see in our traditional curriculum, so we are making an effort to ensure that we marry STEM into our curriculum so that children will be ready for future work processes.

Aside from robotics and STEM, what other programme does your school engage in to inspire creativity?

We understand that art is very important.

We also have things like cooking, sewing and designing. These are things we also incorporate to bring about the artist and creative person amongst ourselves. We really have a well-rounded education because we are preparing students for the future of work which is very diverse. We have moved away from the point where we are just celebrating people who are lawyers and doctors. The future of work for this generation is entrepreneurship, so we are really getting them ready to be entrepreneurs who will be globally competitive.

Nigeria’s value system seems to have dropped. What can the school system do?

I think it’s important that parents understand that schools are secondary parents. The foundation of core values morals starts from the home. I think we need to bring back the village culture into our society. What do I mean by the village culture? When I was growing up, your parents, aunties, uncles and relatives were all partaking in your growth, but now we have gotten into a very inclusive way of

“The future of work is promoting collaboration, team work, and critical thinking which we don’t see in our traditional curriculum, so we are making an effort to ensure that we marry STEM into our curriculum so that children will be ready for future work processes”

One of the school’s mission statements is to raise a generation of young women who will respect and uphold the dignity of labour and womanhood. How have you achieved this with women relegated to the background?

I think we shouldn’t be so hard on ourselves.

We are going to be progressive. When we look into the political space, we are seeing more women partake in politics. It is not enough, but the women we are preparing today, we are preparing them to be in the corridors of power and I am confident that Vivian Fowler girls, will be in the corridors of power globally, even if it is not in Nigeria because we are already seeing it. I think there is really a positive road ahead of us concerning the progress of women. We are definitely not there yet, but we are at a point now in the society where the voice of women are being heard and women are really not taking a back seat, but slowly. We look into banking and other spaces and see the progress made with women in leadership positions. I think it’s going to happen in government as well.

The quality of the education system is dwindling. How can the federal government revamp it?

What does the United Nations recommend as our budget for education? Is the government meeting the needs? Is the government training people for the future of work? Like I said, we can’t all be lawyers and doctors.

Have we invested enough in education? The formative years are so important. Are we doing enough in the formative years? We know that even when a child reaches 13, rather than going on an academic route, you can go on another route and gain skills. I must commend Lagos state because it is doing so well in making sure that they are preparing children in the public sector for the future of work. So I think we are making progress sometimes the progress seems slow, but we have to understand that a lot of developing countries are in their incubation period for things like education as a tool to move us forward. I am very confident that we are going to get there.

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T H I S D AY ˾ WEDNESDAY MARCH 16, 2022

EDUCATION

Riverbank School Unlocks Creativity, Problem-solving Skills with STEAM Projects Uchechukwu Nnaike reports that the recent STEAM Fair, organised by Riverbank School, Victoria Island, Lagos, showed students’ understanding of problems affecting humanity, as they developed projects to address them

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side from exposing students to the world of Science, Technology, Engineering, Arts and Mathematics, the recent STEAM Fair 2022, organised by Riverbank School, Lagos, was also meant to help eliminate the phobia for these subjects later in life.

The sixth edition of the fair, with the theme ‘Overcoming the challenging times through STEAM’, saw students creating solutions to humanity’s problems. The head of the school, Mrs. Regina Jemide, said it was important to hold STEAM fairs every year to be in tune with global trends and standards. She said if children are not introduced to science, technology, engineering and mathematics early in life, it might be challenging to catch up later.

According to her, students’ performance in the fair has grown over the years, and they hardly depend on their parents, unlike in the beginning because they felt they couldn’t do it.

“In the last two years, especially this year, we have seen the children doing it on their own, researching and experimenting themselves and bringing out excellent work that you are sure that they did because they will tell you the process and the challenges they experienced and how they were able to overcome the challenges,” she stated.

She said the school wants to excel in the area of STEM, to enrich the children with more knowledge, and take them to that point where they can use the knowledge and skills to earn money for themselves.

According to Jemide, Nigeria has yet to attain a lofty height in STEAM deployment.

She advised the government and private school owners to have a budget for staff training “because, without the training, we cannot have knowledge,” urging the teachers to invest in self-development.

The Vice-Principal of the school, Ms. Veronica Mordi, said the STEAM fair was an opportunity to test the students’ critical thinking skills in the various subjects and the ability to identify human problems and look for ways to solve them. The week-long event was a combination of ‘Literacy and STEAM Week’.

For literacy, she said the students’ speaking,

Students of Riverbank School presenting their projects during the STEAM Fair recently reading, vocabulary, written and oral expressions were assessed.

“There was also spelling bee, so they did mental drills to see how they can process, comprehend information, decode things about the books they have read and the world around them,” said Mordi.

For the STEÀM Fair, the vice-principal said they looked at science and technology, which captured design, engineering, arts, mathematics, and a speed art competition where the children were made to create something from the fair’s theme.

Mordi said the grand finale was a project presentation. In the last term, all classes were assigned projects. Each student was given a project topic, teachers prepared the brief, which covers the materials they will need and the project’s steps. They had two options to choose from.

According to her, some students worked on a drone; others created an ATM to dispense money. Some made balloon rockets conveyor belts. Others made water planes, etc.

This year witnessed over 400 projects, compared to about 200 of last year and 100 of the previous year.

“They brought out parts of the project that we didn’t think about. The way they overcame the challenges they faced in the project produced something even better than what we asked for,” she explained.

“It shows we have the minds that will make Nigeria great if only we can encourage them by creating room for them to demonstrate what they have learnt.”

Explaining his project, a year seven student, Ibrahim Badami, said he produced a smoke absorber to solve pollution.

According to him, it can absorb smoke from the atmosphere and release it to another pipe, which can then be disposed of properly. It was made with two DC motors, of 10 and three watts, respectively, and connected to fans.

A Year 8 student, Tiffany Adeyemi, said she made an ATM machine. She said from watching videos of how the machines are created, she became fascinated with the way they dispense money. She said hers was made of boxes, cardboard, and electrical materials. She noted that the project boosted her mathematical and engineering skills.

Tumi Abu, a Year 9 student, made a drone to take pictures, but she did not have all the materials to make the drone as light as required. However, the fair helped her better understand robotics, science and technology, and other things she had little knowledge of.

Youths Can Transform Nigeria by Hard Work, Says AUIVC

NGO Donates Books, Entry Opens for 2022 Mike Okonkwo National Stationeries to Makoko School Essay Contest

The Vice-Chancellor, Augustine University, Ilara, Epe, Prof.

Christopher Odetunde, has said despite what some people see as a bleak future for the country, youths can positively transform Nigeria.

He stated this during the seventh matriculation ceremony of the institution, where 207 students were admitted into the university.

“What will be your goal for coming to AUI: Is it to join millions holding degrees without values, those pilfering our resources for their families only or to make Nigeria work for all of us?” he stated. “Today, you will make a moral choice that will impact humanity, benefit you, your family and our nation; the choice is yours.”

He urged them to always conform to the rule of ethics even when it is a difficult choice.

Odetunde noted that formal education is not cheap and commended parents for the sacrifices made to give their children quality education.

He said all courses run in the school have accreditation from relevant bodies and agencies

From March 14 to May 20, 2022, secondary school students across the six geopolitical zones in Nigeria will compete for the first, second and third prizes of the 17th Mike Okonkwo National Essay Competition for 2022.

The theme of this year’s essay is ‘Nigeria: A Country at War against Itself: The Problems; the Solutions and the Way Forward’.

According to the Corporate Services Director, Rev. Mrs. Oluwayomi Uteh, apart from the cash prizes of N100,000, N75,000 and N50,000 for the first, second, and third place winners, the first prize winner will also get a laptop and a plaque while the school will get three computers.

The second prize winner will also get a plaque while the school will get two computers and the third prize winner’s school will get a personal computer.

The entry requirements for this year’s competition include an essay of a maximum of 2,000 words, a passport photograph of the student, full name, address, contact telephone number, class, school and name and telephone contact of the principal. Essays are to be submitted through

and charged the students to be ready to be taught to become total men and women.

He advised the students and their parents to note that AUI is a Catholic university, and “as such our Catholic human infrastructure will be defended at all times and that you must buy into this philosophy.”

To encourage students to aim for excellence academically and morally, Odetunde said many prizes and awards were available and urged the new students to strive to benefit from such.

“Some of your colleagues will be recognised today for their academic excellence; those on the vice-chancellor’s list with Cumulative Grade Point Average of 4.50 and above and those on the dean’s list with Cumulative Grade Point Average of between 4.00 and 4.49,” he disclosed.

He thanked the Catholic Church, Lagos, for supporting the university and appreciated the visioner, Cardinal Olubunmi Okogie and the Catholic Bishop of Lagos, Most Rev. Adewale Martins, for his support.

email to essay@trem.org only.

The competition is one of Dr. Mike Okonkwo’s corporate social responsibility activities to raise the country’s education standards and sensitise students by making them analytically minded excelling in their world by developing their ability to think through issues.

It is also part of activities marking the 77th birthday of Okonkwo, the Presiding Bishop of The Redeemed Evangelical Mission (TREM).

Prizes for this year’s competition will be presented to the winners at the 21st Mike Okonkwo Annual Lecture, September 8, 2022, at the Muson Centre, Lagos.

To contribute his quota to national development, he started the Mike Okonkwo Annual Lecture in 2000 and the lecture has grown to become a major contributor to government policies as it brings together seasoned men and women to discuss burning national issues.

Also, to encourage the writing skills of children in secondary schools and to help them become solution providers to the nation, the essay competition was born.

The topic for the essay is also the topic for the annual lecture.

A non-governmental organisation, African Diamond Foundation for Leadership and Creative Art (AFRID), has donated books, stationeries, and chalkboards to pupils of Divine Wisdom Nursery and Primary School, House on Lagoon, Makoko Water Front Yaba, Lagos.

Led by its founder, Ms. Olayinka Kadiri, the project manager, Theresa Andy, and Mr. Emeka Okogeri, the organisation also gave a token to assist in running the school.

Speaking on the reason behind the gesture, Kadiri explained that the report about the children’s plight made the NGO assist the founder, January Wheduto, give the pupils respite while studying.

“One would be in great shock navigating through the horrors of Makoko community as it seems unimaginable to conceive the idea that human beings breed and grow in such communities. What is more worrisome is the children who are deprived of an average educational facilities.

“There is a popular saying that strikes a chord in the hearts of many; children are the leaders of tomorrow.

Wheduto Urban January, a young boy, who just graduated from secondary school saw the need for the children in his community to go to school which was a result of high crime rate in his community.”

She said the foundation believes that every child has strong innate potential that should be developed and explored. “This is why the foundation initiated the legacy project for the sole aim of carrying out projects that affect individuals, communities and even the society,” she said.

Responding, Wheduto stated that the gifts would enable the children learn properly.

He said the children still need some basic school materials.

“We are very grateful to our Matron, Elizabeth Osayande for bringing our story to the world, and to AFRID foundation for bringing lots of books, writing materials, and chalkboard, including giving us token for welfare,” he said.

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T H I S D AY ˾ WEDNESDAY MARCH 16, 2022

EDUCATION

VC Canvasses Cleaner Technologies for Environmental Sustainability Funmi Ogundare

The Vice-Chancellor of the Ahmadu Bello University, Zaria, Prof. Kabiru Bala, has called on the government to introduce incentive schemes such as tax rebates for cleaner technologies.

Bala made this call at the fourth international conference and exhibition 2022 themed, ‘Global Environmental Challenges: Concerns for the Developing World’, of the School of Environmental Studies, Yaba College of Technology.

In his paper titled, ‘Global Environmental Challenges and the Built Environment: A Global South Perspective’, he noted that “people are not aware of environmental concerns arising from their actions, more efforts need to be directed towards enlightenment such increasing people’s knowledge which can bring important changes in lifestyle and habits.”

Bala expressed concern that environmental degradation is one of the

most pressing threats to sustainability.

“There should be remedies to environmental challenges which include; environmental education, governance of nature, formulations and implementation of stronger laws or/ and penalties, as well as the use of environmentally sound technology for monitoring the environment,” the VC said.

Earlier in his remarks, the Rector of the college, Mr. Femi Omokungbe, said the theme was relevant

considering the COVID-19 pandemic man-made and natural disasters environment.

The Dean of the School, Dr. Oyebamiji Okesoto, added that the conference was designed to provide opportunities for scholars and researchers in partnership with government, industry and non-profit organisations in the built industry to develop cutedge knowledge and innovations for the environment as it affects the developing countries.

UNIZIK VC, Prof. Charles Esimone (fifth left), NCC officials and key officers of the university at the presentation of the ICT Centre to the university

NCC Donates ICT Centre to UNIZIK The Nigeria Communication Commission (NCC) has handed over a multi-million naira completed ICT Centre to the Nnamdi Azikiwe University (UNIZIK), Awka.

UNIZIK is one of the institutions from the four geopolitical zones to benefit from the largesse of the NCC with other three centres like University of Port Harcourt (South-South), Federal

University of Technology Minna (North West) and another in the North-East.

The ultramodern ICT centre consists of 100 computer systems, a server room, an external power generating set, and a solar system to further boost the power supply.

The Vice-Chancellor of UNIZIK, Prof. Charles Esimone, said the institution

would explore the partnership with NCC by utilising the ICT centre for computerbased test (CBT), transcript, hotel accommodation and other ICT-based activities.

In his remarks, an official of the NCC, Kenneth Uzoekwe, stated that the ICT centre is the federal government’s intervention through the NCC as part of its mandate towards bridging

the digital divide, encouraging ICT development, and breaching ICT tech hubs.

Though, Uzokwe noted that the ICT centre would enhance research and development. He said the system in place at the ICT Square was a high-end system that could take high-tech software like engineering design, science, and programming.

Sokoto Revamps Girl-child Science,Technical Education The Sokoto State government has revamped the girl-child science and technical education as part of policy inclusiveness and balancing the gender disparity in both general and science-based education in the state.

This was made known during a familiarity tour of critical infrastructure under Governor Aminu Tambuwal’s administration, to assess the extend of work in the education sector, and the need to provide

an enabling environment for girl-child education in the state.

At the new Government Girls Science Secondary School, in Kasarawa in Sokoto Metropolis, the State Ministry of Education explained that with the completion of the school, the state will see an improvement in the enrolment of girls in science and technical oriented courses both at secondary and post-secondary education.

Accordingly, the plan is to create a roadmap for the

empowerment of the Sokoto State girl-child in science and technology, as science takes centre stage in education and skills acquisition.

The Commissioner for Basic and Secondary Education, Muhammadu Guiwa, said the project is geared towards improving girl-child education not just in terms of enrolment, but also in critical areas of science and technical education.

The focus on the girl-child education is part of the synergy

and policy framework enshrined in the recently enacted The Right to Education Act, passed by the state House of Assembly and signed into law

by Tambuwal in 2021.

The latest improvement also comes amidst new indicators spearheaded by the Multiple Indicators Clusters Survey (MICS), which Sokoto recorded the highest reduction in out-ofschool children, of about 50 per cent, the highest in northern Nigeria.

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Teacher’s DIARY KEHINDE OMORU

www.kayomoru.com

A TIME TO REASON TOGETHER

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here have been great teachers of our time who have not only sizzled their teachings with intrinsic values of stability, consistency, stoicism, dependability and regularity, but matched their teachings with complementing actions. In so doing, they have silhouetted their image in history forever and left a legacy that their progeny will benefit from eternally. The ageless truth declares that a good name is more desirable than gold and silver and that the day of one’s death is better than of one’s birth. How profoundly true!

More often than not, values or acts of integrity, which essentially are what is referred to as ‘a good name’ do not give immediate rewards or gratification. You may even be repressed, name-tagged or ostracized for being good. This however should not deter you from doing the right and honourable thing. You may have acquired your good name by way of legacy or they may have become ingrained in you (through association) by your parents or mentors who were themselves unsullied.

Is your integrity squeaky-clean? Is it self-taught, or gained through years of self-discipline? Does it need further touch-ups like mine? Maybe yours is the more realistic and dynamic type that requires constant and progressive priming and pruning.

Does this also need prayers to God to make it perfect? Whatever state your integrity may be in, you as a teacher need to rise above tardiness.

Let’s look as some ways teachers lag behind: In persistent lateness to work or to lessons and in our lackadaisical attitude to work, we may be endangering the progress of our students.

Disorderliness - Excellent recordkeeping, great planning and sequencing skills ensure a smooth progression to the happenings of the day. A good teacher facilitates a flowing chronology of topics in her subject so that her students link the known to the new.

Untidiness and uncleanliness - Maintaining tidy and clean classroom is not expensive. Endeavour to keep the class free of dust, cobwebs, mildew and clutter. This addresses the simple health needs for everyone and projects an exquisite, tasteful, ‘classy’ and graceful image of you the teacher. Insist that your students bin their own rubbish and not throw litter about.

You could soften and brighten your class with a simple pot of indoor plants, this is easily obtainable.

Brighten up your class with a small patch-work of Nigerian fabric. A tailor would graciously give you pieces of or unneeded cloth.

Drabness and routine - There should not be room for flat, uninspiring, ‘wishy-washy’ techniques of teaching on the one hand; a boring, mediocre, unimaginative and stale teacher on the other. You must be a master of your teaching subject and gracious enough to demure on a topic you don’t know rather than fabricate lies! You can’t afford to be regular! Inject fresh and new actions and ideas into your lessons and put an element of surprise into when and how you bring them in.

Your language - Are you fluent, expressive, comprehensible, intelligible and or understandable? There is nothing worse than a teacher who speaks in the wrong tenses and is making no active effort to brush him/herself up! English cuts across all science and art subjects. Refrain from shouting, using abusive words and expressions on the students when they go wrong, speaking abusively of their parents and generally projecting an image of an ogre! Apologise to a student when you have been wrong, say thank you to them when they have helped or done a good thing and negotiate with them when appropriate. Good teachers don’t always give orders; they come to an understanding on issues with their students and in so doing, teach them how to respect other people’s perspectives. Before you send home your student’s reports or school-home communication, take a few moments to read through what you have just written.

A school report is not where you unleash your vendetta on a student or their parents! Endeavour to write in excellent, professional and non-patronizing language. Maintain your dignity and good name.

Sleeping on duty - Sleeping in class before your students or dropping your head on the table for a quick snooze should not be practiced by you. It projects an image of laziness and idleness.

Your students are watching and they are very impressionable!

If you feel ill, go to the sick bay or to any provision your school may have and refuel there. Please check your school’s policy on this.

Selling/trading on duty - This is absolutely wrong and should not be practiced within your daily contract hours. It is true that the times are hard and we all feel the pinch especially considering the current rate of inflation and foreign exchange!

This is not to write on the woe arising from the skyrocketing prices of fuel (PMS) and diesel. Organise your time to fit in what you do outside your contract time. How would you feel if an employee of yours was carrying out his own business in your paying time?

Using your mobile phone irresponsibly – Check your school’s policy on this but as a general rule of thumb, you should keep your phones off or its ring tones on silent and return calls at more acceptable time during your daily contract hours, for example during your break.

Your grooming - A good bath, oral care, some deodorant, hair and nail care contribute to the entire image of a teacher.

Unprofessional dressing, impractical dressing, unfashionable dressings are all subjective description of someone’s grooming.

As a role model, Aim for stylish modesty. Your students should want to be like you! It is important you project a good image of yourself before your students.

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

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T H I S D AY ˾ WEDNESDAY MARCH 16, 2022

CITYSTRINGS

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

At 88, Subomi Balogun is Symbol of the Nigerian Dream Chief Emefu L. Ibe

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he assertion that Nigeria is a blessed nation, is a truism of monumental dimensions.

And in spite the disparaging acts of a few charlatans across the disciplines in the geo-polity, there still abounds in the land, men of character and value, the thought of whose principles and actions ignite hope.

Symbols of consolation, they have by their deeds across time, reverently and consistently lifted the banners of genuine brotherhood, business integrity, dexterity, true statesmanship, exemplary industry, perseverance, and every other value of importance. And by a mixture of sheer grit and hard work, while steering their business brands, they have become creators of employment, bastions of treasured values, crusaders of sustainability and worthy legacies, incubators of financial substances, as well as society’s solid standard references for success and notable history makers.

In this pack is the cerebral entrepreneur, a rare gem with panache, Christian with infectious value system, and the possessor of many positively inspiring titles – Otunba Michael Olasubomi Balogun. Call him a symbol of the true Nigerian dream, and you would be stating the obvious.

That dream encapsulates warm relationship with and accommodation for people of other ethnicities, religions and cultural values, patriotism and visioning, - vital ingredient in the founding and nurturing of enterprises, as well as the spirit of altruism and help for others in need. In all these, the beloved the Olori Omo-Oba Akile Ijebu, has quite an impressive record.

Many stories of him in the public space are tonics for motivation, for embedded in them, are the lessons of dexterity, doggedness and commitment. A typical example is the story of the quest to obtain a banking license for the First City Monument Bank (FCMB), which today has become a premium banking brand.

“What I did at that time was unheard of in this country, for one individual to say he single-handedly wanted to establish a bank”, as against the statutory requirement for the bank promoter to have a foreign partner, which Otunba Balogun did not have.

“But I was inspired by my God through the mouth of a 9-year-old son of mine. We were praying and the young boy went to his mother and said, ‘I just pity Daddy. Why can’t he go and start his own bank, instead of wanting to be the Chief Executive of somebody else’s bank?”

In obeying that submission however, Otunba Balogun came face to face with hurdles, which without vision, commitment and the help of God, would have overwhelmed him.

In retrospect, he said: “it was Alhaji Otiti and the former Vice President, now late Dr Alex Ekwueme, who were used directly by God to assist me in doing what many people thought was impossible. In the case of Otiti, he was a CBN deputy governor and someone in the Central Bank had just mentioned to me, ‘we cannot give you a license because you don’t have a technical partner’. You know my reply? I said, “God is my partner”.

Though Otiti had reassured him by saying, “Subomi don’t worry, the CBN governor and I would arrange something provisional, which will enable you run that bank and later, look for a foreign technical partner”, it did not happen exactly that way.

Here again, you cannot but agree that divinity was at work for him, ensuring the opening of another door upon the closing of one. Rather than Otiti, it was former Vice President, now late Chief Alex Ekwueme, who had been a friend well before the civil war, that God positioned for him and used.

Otunba Balogun

Balogun and his wife just resolved to ‘waylay’ Ekwueme in church. “At the Cathedral Church, my wife and I planned that when Alex was being led out that I would grab his cloth and my wife would grab that of his wife. When we made the moves, the security people with them thought something was wrong with us, but Alex looked back and said,’’Subomi, Bimbola, what is happening?’’.

“Do you know what I told him?

I said, ‘Mr. Vice President, why are you not giving me a license?’ So, Alex said we should come to see him, and he assured me that the following Thursday, I would get my license. By 3 pm of that Thursday, a minister phoned me, and he said ‘Egbon (Big Brother), congratulations, the Vice President said your license has been approved’. True friendship, across ethnic lines had spoken, a friendship that had taken strong roots long before Otunba’s moment of need.

It was a clear case of one good turn deserving another, which lessons would become more obvious.

Recalled from the point of view of Otunba Balogun himself: “The first house I built in my life in Apapa, Alex had the next building to mine. As soon as the war started, some pool players took over the house and were playing pools there.

They would be there until midnight, but in wanting to protect my own house from being burgled by those people, I arranged for the police to evacuate them. And having done that, I renovated the house and rented it out to a lady from the East and I was receiving the rent.

When the war ended, Alex Ekwueme returned to Lagos and came to see me. After the exchange

of pleasantries, I went to my room and brought out a big envelope.”

Otunba Balogun narrated: “In those days, we didn’t use cheques much, it was all cash. So, I gave him the money. I told him I renovated his house, rented it out and this is the rent I collected. Dr Alex Ekwueme looked at me, he could not believe it. All he could mutter was “Mike, I am grateful”. It is the kind of reciprocity that only men of integrity are made of. It can be imagined what could have happened, if Otunba had not before then, shown himself trustworthy. Perhaps, his aspiration to birth a bank would have remained a pipe dream. On the other hand, having been tested, he became trusted, and at the point he needed help, to establish his own bank, the help came readily and easily.

Today, several other companies have sprouted from the brand, and they include: FCMB Group Plc, subsidiaries such as First City Monument Bank (FCMB), CSL Stockbrokers, FCMB Capital Markets, First City Asset Management Limited (FCAM), FCMB Microfinance Bank and FCMB UK. There are also, FCMB Pensions Limited and FCMB Trustees Limited.

There is more to the life of this man to demonstrate his ever willingness to be of service. For example, in a situation where many still tend cause divisions, using religious inclination, Otunba Balogun, has by his philanthropy, not only blurred the line, but obliterated it.

He gives to the Jew as much as he does to the Gentile. So much, he had taken it upon himself to invest in the spiritual growth of Christians in his hometown, through an annual retreat and many more. Interestingly,

"Many stories of him in the public space are tonics for motivation, for embedded in them, are the lessons of dexterity, doggedness and commitment"

this retreat also accommodates Muslims.

What is the essence? The objective is to preach the Gospel of Jesus Christ, worship the Almighty God, touch, and impact humanity. Why not, when he was made the Asiwaju of Ijebu Christians, even when his mother was the Iyasuna of Muslims there, he has continued to enjoy the prayers and well wishes of all and sundry.

“If God singled me out and made me what I am, who am I? It is in appreciation of the unique endowment the good Lord made to me that I do whatever I do. I am not the only Ijebu to be a lawyer, I am not the only Ijebu to be a banker, I am not the only Ijebu to be made Otunba, I am not the only Ijebu to be anything. There are all sorts of birds flying in the air, but we know the Eagle is the king of all birds”, Baba, as he is fondly called by many around him, enthused.

He is Otunba, and further, they decided also to make him the Olori Omo-Oba (the head of all the king’s children) and yet, the Asiwaju of Ijebu Christians as well as the Olori Ebi of the Arojojoye Ruling House in Ijebu Ode, of Ogun State. That town is also host of the multi-billion Naira Otunba Tunwase Paediatric Centre which he recently gave out as a total gift, to the University of Ibadan and the University College Hospital (UCH), both in Ibadan. This is aside regular donations and lending support to worthy courses far and wide., which altogether, continually proclaim the kindheartedness of this true symbol of a classic Nigerian brand.

“I am always joyous to do good and to have people around me, wherever you come from. And the good Lord has always been faithful to me”. Otunba Balogun also proves that people do not always hit it big early in their careers but should see each modest stage in life as a step to something greater in the future.

His immediate job before jetting out of the country for the proverbial golden fleece was as a classroom teacher. And even when he was done with schooling in the United Kingdom, he did not allow the flash lifestyle there, tie him down.

Many other jobs he landed had enough pecks to keep him hooked, but he was persuaded enough to give to each, only what was necessary. Such included the engagement at the Western Region’s Ministry of Justice, where he was a Crown Counsel and later, a Parliamentary Counsel, at the Nigerian Industrial Development Bank, a dream workplace, for many young Nigerians then and at the International Bank for Reconstruction and Development (IBRD), the famous World Bank, and its subsidiary, -the International Finance Corporation (IFC) both in Washington DC. Armed with a bigger vision of himself and tomorrow, he promptly returned to the country, and began to explore business ownership options. His rewards and recognitions have come in quantum– profit for investments, commendation for good works, good name around town, and fulfilment in life.

But the icing is the joining the class of distinguished Nigerians, bestowed with the prestigious national honour of Commander of the Officer of the Niger (CON).

For being a true symbol of the Nigerian dream, Otunba Michael Olasubomi Balogun deserves all the accolades.

All men of goodwill obviously doff their hats today, for this rare gift of a man and chorus for him, the prayer of many more days in the land of the living, in good health of body, of mind and of the soul. Nothing less can suffice as a birthday gift for the billionaire with panache, as this architect of history, Otunba Balogun, turns 88 this month.

-Chief Ibe (Emefulenwanne 1 of Chokoneze, Ezinihite Autonomous Community, Mbaise, a Reputation Management Expert and Public Opinion Analyst), wrote in from Owerri, Imo State.

T H I S D AY ˾ WEDNESDAY MARCH 16, 2022

41

CRIME&SECURITY

Nigerian Navy Boosts Civil, Military Relations in Yobe r...Launches community motorised borehole

Commodore Suleman Dahun and the traditional rulers at the inauguration

The motorised borehole

Stories by Chiemelie Ezeobi

project for sustainability.

The CNS, who was represented by the Director of Naval Civil Military Cooperation, Commodore Suleman Dahun, said they realised the security situation of the North-east which according to him requires civil and military relationship for improved peaceful coexistence.

He disclosed that they embarked on the project in four locations where two have been successful while the water table of the two is yet to be achieved.

He added that “we intend to support them

T

o boost its Civil-Military relationship with the Gandafura Community in Potiskum Local Government Area in Yobe State, the Nigerian Navy recently constructed a motorised

borehole Built by the Chief of Naval Staff (CNS), Vice Admiral Aawal Zubairu Gambo, the project was executed under the Nigerian Navy Civil-Military Cooperation project for

the benefit of humanity.

In his welcome address, the General Manager Rural-Urban Water Supply and Sanitation Agency (RUWASA), Abubakar Liman Babanyawo appreciated the Nigerian Navy for the support to the community.

Admitting that the community was indeed in need of water before the navy's intervention, he urged them to properly maintain the

with other projects such as health facility and other things."

The District Head of Jigawa, Dr Dauda Mohammed Atiyaye and community leader, Jauro Damana Yerima jointly thanked the donors for the support.

While commissioning the Gandafura water project, Emir of Fika and Chairman Yobe State Council of Traditional Rulers, Dr Muhammad Ibn Abali Muhammad Idrissa also thanked the Nigerian Navy for the support to his community.

Nigerian Navy Deepens Collaboration with Pakistani Navy r...Receives 51st Pakistani Navy Course Members in Lagos

T

he Nigerian Navy recently deepened its collaboration on a quest for a safer maritime domain when it received members of the 51st Pakistani Navy Course in Lagos.

The delegation led by Commodore Imran Ul-Haq, was received by the Chief Staff Officer of the Western Naval Command (WNC), Rear Admiral Hamza Kaoje, who represented the Flag Officer Commanding, Rear Admiral Yakubu Wambai.

Highlighting the purpose of the visit, Commodore Ul-Haq said it was to expose the course participants to the military culture and operational activities in Nigeria.

He noted that the already existing relationship, which made it possible for the course participants to be visiting Nigeria, would be further deepened for the good of both countries.

In his response, Rear Admiral Kaoje restated that both countries enjoy a healthy relationship as a number of senior officers including himself, have had reasons to either be educated in Pakistan or attended a special training.

He, therefore, encouraged members of the team to feel at home and ask questions concerning things of their interest in the

Rear Admiral Hamza Kaoje presenting a souvenir to Cdre Imran Ul-Haq, team leader of the 51st Pakistan Navy Staff Course Nigerian Navy’s activities.

He said: "Nigeria and Pakistan have a good and long relationship.

Most of our senior officers, serving and retired were trained in Pakistan including the Army, Navy and Air

force. Most of them were trained in Air War College in Karachi and the Pakistan War College in Lahore.

“It will interest you to know that we had some cadets in Kakul, in Military Academy, we also had some cadets in naval Academy in Karachi. I did my Master ’s programm in National Defence University and I was a Defence Attaché in Pakistan between 2011 and 2014.

“Also, recently, some of your vessels visited us and had training sessions with us. As recently as 2021, one of your navy medical services was here and they rendered some services to our people here.

We appreciate that.

“The Pakistan Navy has been providing us with equipment, especially in the Air Force. Some of your Air Force members were here in our tactical command to train some of our pilots. So, Nigeria and Pakistan have had a long relationship before now."

During their visit, the course participants were be exposed to some activities of the Nigerian Navy, including its role in maritime domain awareness, combating piracy, illegal oil bunkering, drug trafficking.

AVM Lubo Urges Retiring Trainees to Invest Wisely

T

he Commandant, Nigerian Armed Forces Resettlement Centre (NAFRC), Air Vice Marshal Idi Gamso Lubo has urged retiring personnel to invest wisely with their retirement benefits.

He also charged them to continue to be ambassadors of the country as they prepare to bow out of service.

He gave the admonition during the Interdenominational Thanksgiving Service held at the centre in Oshodi, Lagos, as part of the events leading up to their passing out ceremony (POC).

In his advise, he stated that as they were preparing to leave the service, it was important to put their resources to good use and avoid investing in bad vices.

He further advised them to be loyal to the institution and the country by

bringing their experiences to bare for the advantage of their fatherland and represent the Armed Forces well even after retirement.

This is just as he advised those still in service to prepare for life after retirement and put things in order before that time comes, explaining that NAFRC as an institution was equipped to train them on skill acquisition and management that are needed for post service life.

The Commandant appreciated the trainees on the good behaviour exhibited throughout their stay in the centre, stating that it was a reflection of the kind of persons they are.

AVM Lubo

he dal he

42

T H I S D AY ˾ ˜ ͯʹ˜ 2022

BUSINESS/MONEYGUIDE

CBN to Introduce Bank Cash Hubs, Releases Guideline Nume Ekeghe

The Central Bank of Nigeria (CBN) has released a draft guideline for the registration and operation of Bank Neutral Cash Hubs (BNCH), which are to serve as central cash deposit points for bank customers across the country.

According to the draft guideline released yesterday on the apex bank’s website, BNCHs will provide a platform for customers make cash deposits and receive value irrespective of the bank with which their account is domiciled.

The CBN noted that the guideline aims to provide minimum standards and requirements for

BNCH registration and operations for effective supervision.

This move it said is in line with the Nigerian Cash Management System (NCMS), which seeks to reduce cost and improve operational efficiency in the country’s cash management value chain.

The guidelines explained that BNCHs, which are cash collection centers are to be established by registered processing companies or Deposit Money Banks (DMBs) based on business needs.

It states: “The Central bank of Nigeria (CBN), in furtherance of its mandate to promote a sound financial system in Nigeria, in collaboration with Banker’s Committee initiated the Nigerian Cash

Management System (NCMS) which seeks to reduce cost and improve operational efficiency in the country’s cash management value chain.

This guideline aims to provide minimum standards and requirements for BNCH registration and operations for effective supervision.

The key objective of setting up Bank Neutral Cash Hubs (BNCH) is to reduce the risks and cost borne by banks, merchants and huge cash handlers in the course of cash management activities; deepen financial inclusion; and leverage on shared services to enhance cash management efficiency.

NERC Urged to Caution Ikeja Electric over Exorbitant Estimated Billing Sunday Okobi The management of Tong-Da Industries Limited has urged the Nigerian Government as well as the electricity regulatory body, Nigerian Electricity Regulatory Commission (NERC), to save its factory from going under over the alleged exorbitant estimated billing system given to the company by the Ikeja Electricity distribution company (Disco), which it lamented has affected the industry and rendered many workers jobless.

While narrating the company’s ordeal to THISDAY recently, the Managing Director and Chief Executive Officer of Tong-Da Industries, a plastic recycling and production company at

Plot 2, Kudirat Abiola Way, Oregun, Ikeja, Mr. Nwankwo Charles Okwudili, alleged that the Disco officials have been billing his company exorbitantly through estimated billing system even after installing an infrared meter in the company to be monitored in the Discos office.

The businessman lamented that: “Sometime in 2016, Ikeja Electric installed a meter in our factory, and started billing us based on the meter system, and we had been paying until August 2021 when we discovered that Ikeja Electric was not using the meter, but were just billing us on the estimated billing system.

“And whenever they come, they are always hostile to us to pay up at the end of every month.

So when I traveled, my company was disconnected from power

by IE without any due notice.

When I came back, two weeks later, I paid the bill with the reconnection fee of N2.7 million for a month, and two weeks after, they brought a bill of one month, and I told them that we used the power for just two weeks after reconnection, why are you billing us for one month, and then, I didn’t even know it was estimated.”

He stated that the action of the Disco has affected his business and ruined is production, adding that: “I have suffered personal loses, even as the company is no more meeting up with production.

It is a very pathetic situation.

IWD: Nestoil Celebrates Women, Promotes Equality Nestoil marked the 2022 International Women’s Day with a stimulating engagement with elite ladies making themselves proud in business and career in the Nigerian economy.

The virtual gathering, which had about 50 in attendance, including men,had select women who had broken the glass ceiling in their chosen fields lead conversations with a view to encouraging others, motivating the young to aspire and debunking the notion of gender stigmatisation.

The 2022 Nestoil Group International Women’s Dayeventheld under the theme, ‘’#BreaktheBias: Gender Equality Today for a Sustainable Tomorrow.”

During the event, speakers explored the implications of gender bias in the workplace and charged fellow women to be ambitious, focused, deliberately

competent and willing to put in the extra work as necessary ingredients to breaking the glass ceiling. Director, Public Affairs, Communications and Sustainability, Coca-Cola Nigeria, Nwamaka Onyemelukwe, opined that for women to break the bias, they must be ready to purge themselves of stereotypical beliefs and embrace life with a positive mindset.

According to Onyemelukwe, one of the stereotypes that hold women back is the lack of conviction which prevents women from pursuing opportunities for which they are qualified . Whereasthe menfolk, even those with lower qualifications,are often undeterred in goingfor every available opportunity. Onyemelukwecharged women to cultivate the habit of self-belief because there is no limit to what they can achieve if they do. She said, “Women account for

two-thirdsof the world’s spending power; 66 per centof work is done by women, yet they earn 10 per centof the world’s income due to the type of work they do. By being more deliberate in creating value, mentoring other ladies and girls, while not forgetting to grow their network, more women will be empowered to break the bias and rise to the top. ” Onyemelukwe alsourged women not to be fixated on doing everything by themselves to avoid burnout but should get support, if need be. She advised women to make their presence count at each opportunity .

Head of Gas, NecondeEnergy, Chichi Emenike, described breaking the bias as breaking from the norm, while being competent is the key to growth for women because the world demands more people who have what it takes to succeed.

Akeredolu Inaugurates Jaiz Bank Branch in Akure The Ondo State Governor, Rotimi Akeredolu, SAN, yesterday commissioned Jaiz Bank Branch in Akure, urging everyone to patronise the Bank as it’s meant for both Muslims and non-Muslims.

He said the coming of the premier non-interest bank in Nigeria to Ondo would open the doors for all to enjoy non-interest financing.

The governor said: “The Bank is not for Muslims alone. I am not a Muslim. In fact, I am the Chancellor of my own church and I am going to have an account

in the state.

“Over the last five years, we have made efforts to bring development to the state and today we are bringing in Jaiz Bank to the state. The state is under banked.

We need more.”

In his speech, the Managing Director of the Bank Mr. Hassan Usman thanked the governor for his support towards the establishment of the Bank in Ondo State.

He said appreciate the support of the governor in creating the enabling environment for invest-

ments to strive in the State for the benefit of the people.

The MD told the gathering at the event that since Jaiz Bank commenced operations in 2012, it has been providing ethical services to individuals, corporate and government entities with the mission of Making Life Better Through Ethical Finance.

He said: “Since its debut, exactly a decade ago, the Nation’s premier Non-Interest Bank has maintained its leadership role by deepening this alternative model of financing, thus providing the foundation for its expansion.

L-R: Head, One Woman, Sterling Bank Plc , Ifunanya Ugboko; Chief Executive Officer, Future Software Resources Limited, Nkemdilim Uwaje Beg; Co-Founder, Falcon Corporation, Audrey Joe-Ezigbo; Chief Executive Officer, Society for Corporate Governance, Chioma Mordi and moderator and Head, Governance, Stanbic IBTC Holdings, Ese Nkadi at International Women’s Day 2022 in Lagos over the weekend

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ 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 THURSDAY, OCTOBER 7

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).

43

T H I S D AY ˾ ˜ ͯʹ˜ ͰͮͰͰ

Ecobank to Pay Shareholders $40m as Dividend for 2021 FY Kayode Tokede T h e E c o b a n k Tr a n s national Incorporated (ETI) is set to pay its shareholders’ dividends of $0.16 per share totalling $40 million for the year ended December 31, 2021.

T h i s i m p l i e s a p p ro x i m a t e l y C FA 9 0 , N 6 6 . 6 ,

or 1.08 Ghana Cedi per share. For Nigerian and Ghanaian investors, this represents 5.5 times and 8.3 times, respectively, the most recent value of the Ecobank shares they hold.

According to the Company Secretary, Madibinet Cisse, “We are pleased to inform our shareholders and the public that

P R I C E S MAIN BOARD

F O R DEALS

t h e B o a rd o f E T I , a t i t s m e e t i n g o f F e b ru a r y 2 5 , 2 0 2 2 , a p p ro v e d t h e Ecobank consolidated audited accounts for the year ended December 31, 2021 subject to relevant regulatory approvals.

The Board also recommended the payment of a dividend of USD0.16 cents per share being a total

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

QUANTITY TRADED

amount of circa USD40 million. The relevant resolutions will be presented for shareholders’ approval at the upcoming Annual General Meeting of ETI.” He further stated that “The details of the audited accounts will be published upon approval of relevant regulators. Consequently, the closed period which

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

commenced from January 1, 2022, will continue until 24 hours after the Audited Accounts for the year ended December 31, 2021, are released to the Stock Exchanges on which Ecobank Transnational Incorporated is listed.”

The dividend payout has triggered the share price in the various stock

O F

1 5

exchanges where ETI is listed. In Nigeria, ETI featured in this week’s selection for trading well below its real value, meaning it stands a good chance of considerable price appreciation in the future. The lender ’s price-to-earnings (PE) ratio as of Friday was 2.54x, with earnings per share (EPS) of N4.32.

/ 0 3 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

44

WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

Wednesday, March 16, 2022

dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚŽǁŶ ϮϵďƉƐ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϭϰďƉƐ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ĨĞůů ϮϵďƉƐ ƚŽ Ϯ͕ϬϯϬ͘ϬϮ ŝŶĚĞdž ƉŽŝŶƚƐ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ DdEE ;ͲϬ͘ϮйͿ͕ 'd K ;Ͳϭ͘ϵйͿ͕ ĂŶĚ Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕

THISDAY AFRINVEST 40 INDEX

E/d, ;ͲϬ͘ϳйͿ͘ ƵŵŵƵůĂƟǀĞůLJ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ ϮϬ͘Ϯй ŽĨ ƚŚĞ ŝŶĚĞdž͘ ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

ĞĂƌƐ ,ŽůĚ ^ǁĂLJ͘​͘​͘ ^/ ĚŝƉƐ Ϭ͘Ϯй ^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй dŚĞ ďĞĂƌƐ ĚŽŵŝŶĂƚĞĚ LJĞƐƚĞƌĚĂLJΖƐ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ƐĞůůͲŽīƐ ŝŶ 'd K ;Ͳϭ͘ϵйͿ͕ & D ;Ͳϰ͘ϮйͿ͕ ĂŶĚ DdEE ;ͲϬ͘ϮйͿ ĚƌĂŐŐĞĚ WƌĞǀŝŽƵƐ ĚĂLJ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ ŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĂŶĚ zd ƌĞƚƵƌŶ ĨĞůů ďLJ േϰϳ͘ϯďŶ ĂŶĚ ϮϬďƉƐ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ ƌĞƐƉĞĐƟǀĞůLJ ƚŽ േϮϱ͘ϱƚŶ ĂŶĚ ϭϬ͘ϴй͘ ^ŝŵŝůĂƌůLJ͕ ƚƌĂĚŝŶŐ ĂĐƟǀŝͲ ^ŚĂƌĞ ŝŶĚĞdž ƌŽƐĞ ďLJ ϴϱ͘ϳй ĂŶĚ ϲϴ͘ϳй ƌĞƐƉĞĐƟǀĞůLJ ƚŽ ϭϴϯ͘ϯŵ ƵŶŝƚƐ ĂŶĚ േϮ͘ϱďŶ͘ ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ

13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ĐƌŽƐƐ ŽƵƌ ĐŽǀĞƌĂŐĞ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ ϰ ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ ŽƵƚ ŽĨ ϲ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ͘ >ĞĂĚŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ͕ ƚŚĞ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕ /ŶƐƵƌĂŶĐĞ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ůŽƐƚ ϭ͘ϵй ĂŶĚ ϭ͘ϲй ƌĞƐƉĞĐͲ E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘ ƟǀĞůLJ ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ // K ;Ͳϰ͘ϰйͿ͕ KZE Z^d ;Ͳϴ͘ϴйͿ͕ ĂŶĚ

^ W> d ;Ͳϯ͘ϬйͿ͘ dƌĂŝůŝŶŐ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ &ZͲ/ d ŝŶĚŝĐĞƐ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ƐŚĞĚ Ϭ͘ϭй ĂƉŝĞĐĞ ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĚĞĐůŝŶĞ ŝŶ h ;ͲϮ͘ϯйͿ͕

ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ K ;нϬ͘ϮйͿ ƉƵůůĞĚ ƚŚĞ ŽŶƐƵŵĞƌ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝͲ Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ ĐĞƐ ŚŝŐŚĞƌ ďLJ Ϭ͘Ϯй ĂŶĚ ϭϯďƉƐ ƌĞƐƉĞĐƟǀĞůLJ͘ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ;Ͳϯ͘ϱйͿ͕

>/E< ^^hZ

;Ͳϲ͘ϰйͿ͕

5 Zenith Bank PLC 6 Dangote Cement PLC 7 Nestle Nigeria PLC

11 United Bank for Africa PLC 12 Stanbic IBTC Holdings PLC

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞdž ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŝŶƚĞƌĞƐƚ ŝŶ hE/> s Z ;нϯ͘ϴйͿ͕ /Ed Z t ;нϭ͘ϬйͿ͕ ĂŶĚ t WͲ

15 Ecobank Transnational Inc 16 International Brew eries PLC 17 Okomu Oil Palm PLC 18 Flour Mills of Nigeria PLC 19 Fidelity Bank PLC 20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc 23 United Capital PLC 24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria 26 NEM Insurance PLC

204.50

-0.2%

8.0%

3.8%

3.8%

134.7%

14.1%

70.75

0.0%

6.8%

5.5%

5.5%

19.1%

11.2%

26.20

-1.9%

6.2%

0.8%

0.8%

20.7%

3.3%

38.1%

31.9%

5.4x

0.8x

5.9%

ot Applicable

1.5%

13.9x

21.5x

5.1%

7.2%

34.0x

6.4x

4.3x

0.9x

11.5%

23.5% 29.0%

31.9%

16.7%

2.9%

26.80

-0.7%

6.0%

6.6%

6.6%

20.4%

2.7%

3.4x

0.7x

11.6%

273.50

0.0%

4.4%

6.4%

6.4%

39.2%

16.3%

12.9x

4.8x

7.1%

7.8%

1,435.00

0.0%

3.1%

-7.8%

-7.8%

106.8%

15.6%

27.8x

32.8x

3.5%

3.6%

11.60

0.0%

3.2%

1.8%

1.8%

8.4%

0.8%

6.8x

0.6x

3.9%

14.6%

24.00

0.2%

3.1%

0.2%

0.2%

11.6%

8.4%

9.0x

1.0x

8.3%

11.1%

10.50

2.4%

2.9%

12.9%

12.9%

17.0%

1.4%

2.9x

0.5x

8.1%

34.0%

8.50

-2.3%

2.2%

5.6%

5.6%

15.8%

1.4%

2.5x

0.4x

11.7%

39.9% 12.9%

34.50

0.0%

1.5%

-4.2%

-4.2%

15.1%

2.1%

7.8x

1.2x

11.8%

45.40

-0.2%

1.4%

-9.2%

-9.2%

7.6%

2.7%

28.5x

2.1x

3.5%

3.5%

960.00

-3.0%

2.2%

47.7%

47.7%

8.7%

4.1%

8.7x

0.8x

4.3%

11.4%

-10.3%

-3.9%

11.80

0.0%

1.7%

35.6%

35.6%

5.10

1.0%

1.1%

3.0%

3.0%

140.00

0.0%

1.0%

-1.4%

-1.4%

36.5%

23.3%

9.5x

3.2x

31.75

0.8%

1.0%

12.0%

12.0%

15.9%

4.5%

4.9x

0.7x

5.2%

20.6% 44.9%

2.7x

36.9% 1.0x

-11.2% 10.5%

2.93

2.8%

0.7%

14.9%

14.9%

13.3%

1.3%

2.2x

0.3x

7.5%

2.30

0.0%

0.5%

-0.9%

-0.9%

9.3%

3.0%

7.1x

0.7x

9.6%

14.1%

16.00

0.0%

0.4%

-8.0%

-8.0%

17.4%

6.9%

8.8x

1.5x

6.3%

11.3%

10.3%

1.1%

3.45

-4.2%

0.5%

15.4%

15.4%

12.65

-2.3%

0.5%

27.8%

27.8%

65.00

0.0%

0.6%

66.7%

66.7%

13.3%

6.0%

13.7x

1.7x

0.7%

7.3%

1.13

0.0%

0.4%

17.7%

17.7%

11.1%

2.3%

6.0x

0.6x

0.9%

16.7%

35.6%

18.5%

6.2x

1.0x

4.7%

16.1%

2.7x

0.8% 3.0%

7.9%

0.3x

4.3%

2.8x

11.9%

-11.6%

-11.6%

0.4%

42.4%

42.4%

13.50

0.0%

0.3%

2.3%

2.3%

21.3%

6.9%

12.7x

2.5x

29 AIICO Insurance PLC 30 TotalEnergies Marketing Nigeri

0.65

-4.4%

0.2%

-7.1%

-7.1%

7.2%

1.1%

361.1x

0.7x

264.90

0.0%

0.3%

19.4%

19.4%

48.0%

9.5%

5.4x

2.2x

1.6%

18.6%

31 Custodian and Allied Insurance 32 Vitafoam Nigeria PLC 33 Unilever Nigeria PLC 34 Julius Berger Nigeria PLC 35 Union Bank of Nigeria PLC

ĞdžƉĞĐƚ ƚŚĞ ďĞĂƌŝƐŚ ƐĞŶƟŵĞŶƚ ƚŽ ƉĞƌƐŝƐƚ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ

Afrinvest West Africa Limited

0.0%

0.3%

40 Transcorp Hotels Plc

ŐƌĂĚƵĂůůLJ ǁŝŶĚƐ ƵƉ͘

3.5%

1,260.00

Divindend Earnings Yield Yield

P/BV

0.0%

ůŽƐƚ ǁŚŝůĞ ϳϮ ĐůŽƐĞĚ ŇĂƚ͘ /Ŷ ƚŚĞ ƚŽĚĂLJ͛Ɛ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ͕ ǁĞ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ĞƚĂŝůƐ ůĂƚĞƌ

15.0%

P/E

0.0%

ĞŶĞĚ ƚŽ ͲϬ͘ϭϬdž ĨƌŽŵ ͲϬ͘Ϭϰdž ĂƐ ϭϱ ƐƚŽĐŬƐ ŐĂŝŶĞĚ͕ ϮϮ ƐƚŽĐŬƐ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ

ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ ƉƌĞǀŝŽƵƐůLJ͘​͘​͘ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ

9.5% 103.0%

ROA

3.98

38 Sterling Bank PLC 39 Notore Chemical Industries Ltd

ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ ;ϭϰ͘Ϭϭй LJͬLJ ǀƐ ϭϯ͘ϴϳй ƉƌĞǀŝŽƵƐůLJͿ ǁŚŝůĞ ďĂƐĞůŝŶĞ ĞīĞĐƚ < Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ŚĞůƉĞĚ ƚŚĞ &ŽŽĚ ďĂƐŬĞƚ ŵŽĚĞƌĂƚĞ ƚŽ ϭϳ͘ϭϭй ĨƌŽŵ ϭϳ͘ϭϯй

-0.29%

ROE

125.00

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ǁĞĂŬͲ ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲdž ƉƌŝĐĞƐ ƌŽƐĞ ϭ͘ϲϯй ĨƌŽŵ ϭ͘ϰϳй ŝŶ :ĂŶƵĂƌLJ͘ dŚĞ ƵƉƐƵƌŐĞ ŝŶ ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ƚŚĞ W/ ǁĂƐ ŝŶŇƵĞŶĐĞĚ ďLJ ƚŚĞ ƉƌĞƐƐƵƌĞ ŝŶ ƚŚĞ ŽƌĞ ďĂƐŬĞƚ

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

27 Presco PLC 28 NASCON Allied Industries PLC

36 Oando PLC 37 Wema Bank PLC

Ğƌ͕ ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ DĂĐƌŽĞĐŽŶŽŵŝĐ ŝƐĐůŽƐƵƌĞ ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘ zĞƐƚĞƌĚĂLJ͕ ƚŚĞ EĂƟŽŶĂů ƵƌĞĂƵ ŽĨ ^ƚĂƟƐƟĐƐ ;E ^Ϳ ƉƵďͲ

ůŝƐŚĞĚ ƚŚĞ W/ ƌĞƉŽƌƚ ĨŽƌ &ĞďƌƵĂƌLJ ƐŚŽǁŝŶŐ ĂŶ ƵƉƟĐŬ ŝŶ ƚŚĞ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ĂŶŶƵĂů ŚĞĂĚůŝŶĞ ŝŶŇĂƟŽŶ ƌĂƚĞ ƚŽ Ă ϰͲŵŽŶƚŚ ŚŝŐŚ ŽĨ ϭϱ͘ϳϬй͕ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ĨƌŽŵ ϭϱ͘ϲϬй ƉƌĞǀŝŽƵƐůLJ͘ KŶ Ă ŵŽŶƚŚůLJ ďĂƐŝƐ͕ ĐŽŶƐƵŵĞƌ

2030.02

8 FBN Holdings Plc 9 Lafarge Africa PLC 10 Access Bank PLC

ƚLJ ǁĂƐ ĚĞƉƌĞƐƐĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ǁĂŶĞĚ ďLJ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ zd ůŽƐƐ ŝŵͲ

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ E/d, ;ͲϬ͘ϳйͿ͕ ĂŶĚ DdEE ;ͲϬ͘ϮйͿ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ďƵLJŝŶŐ

THISDAY AFRINVEST 40 1 Airtel Africa PLC 2 MTN Nigeria Communications PLC 3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

ƚŚĞ E'yͲ ^/ ůŽǁĞƌ ďLJ Ϭ͘Ϯй ƚŽ ϰϳ͕ϯϰϬ͘ϴϲ ƉŽŝŶƚƐ͘ dŚƵƐ͕ ŵĂƌͲ ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ

KƵƚůŽŽŬ ϵ͘ϭйͿ͕ hE/> s Z

Current Price

7.20

0.0%

0.2%

-8.9%

-8.9%

19.5%

5.5%

4.2x

0.8x

7.7%

23.6%

22.30

0.0%

0.2%

-0.9%

-0.9%

38.7%

16.0%

5.7x

2.0x

6.7%

17.5%

13.50

3.8%

0.1%

-6.9%

-6.9%

7.8%

4.9%

29.9x

1.2x

26.45

0.0%

0.2%

18.3%

18.3%

18.9%

2.4%

4.0x

0.8x

1.5%

25.0%

4.0%

6.25

0.0%

0.1%

5.9%

5.9%

7.1%

0.8%

7.0x

0.7x

5.10

0.6%

0.0%

15.4%

15.4%

14.5%

2.6%

2.2x

0.3x

3.3%

0.92

0.0%

0.1%

27.8%

27.8%

14.1%

0.8%

4.0x

0.5x

4.3%

25.0%

2.0%

0.1%

3.3%

3.3%

9.4%

0.9%

2.0x

0.3x

3.2%

49.1%

62.50

0.0%

0.1%

0.0%

0.0%

-28.3%

-6.1%

5.38

0.0%

0.0%

0.0%

0.0%

P ric e

2.4x

-13.8%

0.9x

14.0%

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

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

VER IT A SKA P

0.22

4.8%

UB A

23.4

-2.3%

CHA M S

0.23

4.5%

A C C ESS

10.4

2.4%

ET ER N A

5.25

4.2%

FB NH

10.2

0.0%

UN ILEVER

13.50

3.8%

UA C N

9.7

0.0%

R OYA LEX

1.13

3.7%

Z EN IT H B A N K

9.6

-0.7%

N EIM ET H

1.75

2.9%

SOVR EN IN S

8.6

0.0%

LA SA C O

1.08

2.9%

C OR N ER ST

8.6

-8.8%

GT C O

8.3

-1.9%

A IIC O

7.8

-4.4%

T R A N SC OR P

7.1

0.0%

F ID ELIT YB K

2.93

2.8%

A C C ESS

10.50

2.4%

1.56

2.0%

ST ER LN B A N K

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

T o p 10 L o s e r s T ic k er C OR N ER ST M ULT IVER SE

P ric e 0.62 0.22

P ric e C hg % -8.8% -8.3%

SC OA

2.40

-7.7%

P R EST IGE

0.46

-6.1%

F T N C OC OA

0.33

-5.7%

J A P A ULGOLD

0.33

-5.7%

A IIC O

0.65

-4.4%

N IGER IN S

0.22

-4.3%

FCM B

3.45

-4.2%

UN IT YB N K

0.48

-4.0%

Brokerage

Value

P ric e C hg %

SEP LA T

T ic k er

531.3

-3.0%

Z EN IT H B A N K

259.6

-0.7%

NB

223.5

-0.2%

GT C O

220.7

-1.9%

UB A

200.2

-2.3%

FB NH

117.6

0.0%

A C C ESS

108.9

2.4%

UA C N

104.4

0.0%

M TNN

97.4

-0.2%

P R ESC O

84.8

0.0%

Asset Management

Investment Research

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

14.2% 45.5%

1.56

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

0.3%

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

45

WEDNESDAY, MARCH 16, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 14Mar-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.49% Anchoria Equity Fund 143.74 145.49 3.24% Anchoria Fixed Income Fund 1.22 1.22 7.08% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 21.66 22.31 6.78% ARM Discovery Balanced Fund 483.45 498.02 7.16% ARM Ethical Fund 39.67 40.86 1.83% ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund 1.03 1.03 1.48% ARM Money Market Fund 1.00 1.00 7.23% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 109.02 109.02 7.19% AVA GAM Fixed Income Dollar Naira 1,085.22 1,085.22 8.52% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.11 2.11 13.30% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.26 2.31 20.26% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 1.81% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.72% Paramount Equity Fund 18.66 18.99 10.87% Women's Investment Fund 146.38 147.98 5.24% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A 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 EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.57% Emerging Africa Bond Fund 1.02 1.02 5.66% Emerging Africa Balanced Diversity Fund 1.04 1.04 14.24% Emerging Africa Eurobond Fund 101.54 101.54 3.48% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,425.85 1,425.85 10.73% FBN Balanced Fund 186.17 187.60 6.23% FBN Halal Fund 117.64 117.64 8.39% FBN Money Market Fund 100.00 100.00 8.14% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund FSDH Dollar Fund

123.03 158.18

123.03 3.98% 160.35 4.70% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.98 1.80 1.22

Offer Price Yield / T-Rtn 1.00 7.26% 3.98 -0.69% 1.84 3.57% 1.22 0.80% coralfunds@fsdhgroup.com

Bid Price 4,023.34 3,511.28 100.00

Offer Price 4,085.26 3,511.28 100.00

0.00

0.00

Yield / T-Rtn 3.37% 1.24% 5.95%

0.00%

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 5.60% Vantage Balanced Fund 2.94 3.00 2.87% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 139.07 139.07 -10.65% Vantage Equity Income Fund (VEIF) - June Year End 1.29 1.34 2.72% Vantage Dollar Fund (VDF) - June Year End 1.05 1.05 3.54% 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 1.49 1.52 3.47% Lotus Halal Fixed Income Fund 1,161.79 1,161.79 2.18% 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 12.88 12.97 9.26% Meristem Money Market Fund 10.00 10.00 8.72% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 12.88 12.97 9.26% Norrenberger Money Market Fund (NMMF) 10.00 10.00 8.72% 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 1.63 1.65 1.23% PACAM Fixed Income Fund 11.66 11.66 4.18% PACAM Money Market Fund 10.00 10.00 7.34% PACAM Equity Fund 1.49 1.50 2.85% PACAM EuroBond Fund 113.88 116.39 -1.13% 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 130.00 132.25 9.53% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 9.40% 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 3,566.38 3,605.99 3.59% Stanbic IBTC Bond Fund 236.99 236.99 0.53% Stanbic IBTC Ethical Fund 1.36 1.39 5.77% Stanbic IBTC Guaranteed Investment Fund 316.78 316.78 1.10% Stanbic IBTC Iman Fund 249.55 253.16 3.06% Stanbic IBTC Money Market Fund 100.00 100.00 4.75% Stanbic IBTC Nigerian Equity Fund 11,433.93 11,596.46 2.93% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.90% Stanbic IBTC Shariah Fixed Income Fund 117.73 117.73 0.65% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 108.09 108.09 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.98 1.00 5.33% United Capital Balanced Fund 1.43 1.45 5.11% United Capital Wealth for Women Fund 1.16 1.17 6.34% United Capital Sukuk Fund 1.09 1.09 1.50% United Capital Fixed Income Fund 1.99 1.99 1.50% United Capital Eurobond Fund 123.64 123.64 1.07% United Capital Money Market Fund 1.00 1.00 6.70% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.50 13.63 2.41% Zenith ESG Impact Fund 15.52 15.69 6.23% Zenith Income Fund 22.34 22.34 1.57% Zenith Money Market Fund 1.00 1.00 5.80%

REITS NAV Per Share

Yield / T-Rtn

121.99 53.17

1.48% 0.83%

Bid Price

Offer Price

Yield / T-Rtn

14.22 136.20 107.45 20.56 22.48

14.32 139.60 109.83 20.66 22.58

1.79% 3.48% 3.70% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

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

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

4.45 5.66 18.68 1.00 21.07 169.56

4.55 5.76 18.88 1.00 21.27 171.56

17.99% 11.06% 8.66% 0.00% 8.60% 7.42%

NAV Per Share

Yield / T-Rtn

107.28

10.80%

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.

46

WEDNESDAY, MARCH 16, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Russian Prosecutors Seek 13-Year Additional Sentence for Navalny Russian prosecutors are seeking an additional 13-year sentence for high profile Kremlin critic Alexei Navalny, a spokeswoman for Navalny said Tuesday.

“We’ve been saying that [Russian President Vladimir] Putin wants to keep Navalny in prison forever. The upcoming sentence has nothing to do with the law,” the spokeswoman, Kira Yarmysh, wrote on Twitter.

Navalny, 45, is currently serving a two-anda-half-year sentence in a prison camp east of Moscow on a 2014 embezzlement conviction.

He was arrested in January when he returned to Russia from Germany where he was recovering from what he said was a nerve agent attack by the Kremlin. Russian officials deny his allegation.

Yarmysh says prosecutors also want Navalny transferred to a maximum-security prison, alleging he has committed crimes at the prison camp and is thus a repeat offender.

“Thirteen years for a fabricated case, for fake ‘victims,’ for witnesses who had testified under pressure and then publicly denounced their testimonies in court,” she wrote.

She said there would be another court hearing before any further sentencing is announced.

US Military Ramps Up Drills as North Korea Prepares Major Launch The U.S. military said Tuesday it has intensified air defense drills in South Korea and conducted an aircraft carrier exercise in the Yellow Sea as part of a “demonstration of resolve” following two partial North Korean tests of a new longrange missile.

The military displays came as U.S. officials warned North Korea could soon conduct a full test of a new intercontinental ballistic missile, possibly under the guise of a satellite launch.

South Korean news outlets report U.S. and South Korean authorities have detected signs that a launch could occur as soon as this week.

The situation risks a return to tensions not seen since 2017, when North Korean leader Kim Jong Un and former U.S. President Donald Trump exchanged threats of nuclear war before engaging in a series of unprecedented talks.

For now, the rhetoric on both sides is much more restrained.

In a statement Tuesday, U.S. Forces Korea (USFK) said it “increased the intensity” of a regular “certification exercise” involving the Patriot missile defense system. The exercise, which involved a simulated combat scenario, “underscores the seriousness USFK takes against the DPRK’s recent missile launch behavior,” the statement said, using an abbreviation for North Korea’s official name.

China Says It Is ‘Not a Party’ to Ukraine Crisis China says it does not want to get caught up in the diplomatic and economic blowback Russia is facing from Western nations over its invasion of Ukraine.

State media said Chinese Foreign Minister Wang Yi expressed his government’s wishes during a lengthy phone conversation Monday with Spanish Foreign Minister Jose Manuel Albares.

According to a transcript of the phone call published Monday by the Chinese foreign ministry, Wang told Albares that Beijing is “not a party to the crisis” and does not want to be “affected” by the mounting economic sanctions imposed on Moscow over the nearly 3-week-old invasion.

The conversation took place as U.S. National Security Adviser Jake Sullivan and officials from the National Security Council and State Department met in Rome with China’s top foreign policy adviser, Yang Jiechi. The Biden administration has warned that Beijing would face severe “consequences” if it helps Moscow avoid sanctions.

Media reports emerged Sunday that Moscow has requested military and economic assistance from China for its war in Ukraine.

Foreign Ministry spokesman Zhao Lijian Tuesday repeated an accusation leveled by Beijing that the United States is spreading “disinformation” over reports that China has

President Paul Biya has ordered his government to build and equip destroyed hospitals and recruit more health workers. He also says he asked several hundred hospital workers who fled Boko Haram terrorism to return to Cameroon’s border with Nigeria.

Malachie did not say when the hospitals would be re-built. But Cameroon’s government says it will spend $300 million this year to reconstruct what Boko Haram destroyed, including hospitals and medical equipment.

Government troops have been fighting Boko Haram along the northern border with Nigeria since 2014.

responded positively to Moscow’s request.

US Announces More Sanctions on Belarus Leader, Russian Officials The United States on Tuesday announced more sanctions on Belarusian leader Alexander Lukashenko for his role as an ally of Russia during the invasion of Ukraine.

The sanctions will block Lukashenko and his wife from accessing U.S. property and limit the ability of Americans to conduct business with them.

The U.S. has already sanctioned Lukashenko over the Ukraine invasion, including limiting technological exports.

The U.S. also sanctioned Lukashenko for using migrants as political pawns on the border with Poland and for what many Western countries consider a rigged election in 2020.

Also announced Tuesday were sanctions on several Russian individuals, some under the Magnitsky Act, for their alleged role in human rights violations. Included are Natalia Mushnikova, a Moscow judge, and Nurid Salamov, a prosecuting investigator.

“Today’s designations demonstrate the United States will continue to impose concrete and significant consequences for those who engage in corruption or are connected to gross violations of human rights,” said Office of Foreign Assets Control Director Andrea Gacki. “We condemn Russia’s attacks on humanitarian corridors in Ukraine and call on Russia to cease its unprovoked and brutal war against Ukraine.”

FOX News Journalist Killed in Ukraine The U.S. broadcaster FOX News on Tuesday announced that cameraman Pierre Zakrzewski has died in Ukraine.

Zakrzewski, 55, was injured while on assignment with FOX News correspondent Benjamin Hall. Their vehicle was struck by incoming fire in Horenka, near Kyiv, according to a memo shared with the broadcaster’s staff.

Oleksandra Kuvshynova, a Ukrainian journalist who was with them at the time, was also killed, the adviser to Ukraine’s Minister of Internal Affairs, Anton Gerashchenko, said.

Hall, the State Department correspondent for FOX, is still hospitalized and receiving treatment for injuries.

Both he and Zakrzewski were experienced journalists who had covered conflicts in Afghanistan, Iraq, and Syria.

In her memo to staff, Fox News Media’s CEO, Suzanne Scott, said that London-based Zakrzewski’s “talent was unmatched.”

Zakrzewski “was profoundly committed to telling the story and his bravery, professionalism and work ethic were renowned,” the memo read.

“Everyone in the media industry who has

covered a foreign story knew and respected Pierre.”

Journalists paid tribute to Zakrzewski on social media, including for his efforts to help get Afghan journalists safely out of Afghanistan when the Taliban seized power last year.

FOX News anchor Bill Hemmer announced the death on the network Tuesday, describing his colleague as “an absolute legend.”

Court Upholds Hijab Ban in Indian Schools In a significant judgement, an Indian court has upheld a ban imposed in the southern state of Karnataka on wearing the hijab in schools and colleges, asserting the hijab is not an essential practice of Islam.

The ruling Tuesday came in response to petition by a group of Muslim women who had challenged the ban on wearing the Muslim headscarf in classrooms in Karnataka, which is ruled by the Hindu nationalist Bharatiya Janata Party.

The judgement could deepen religious fault lines in a country where critics say Muslims, who are India’s largest minority, face discrimination under the BJP. It could also have implications for other states where students from India’s largest minority often wear the headscarf in class.

The controversy over the hijab erupted in Karnataka when authorities in a preuniversity college barred six Muslim girls from attending classes wearing the head scarf. The issue soon became a flashpoint triggering protests by Muslim students who said they were being deprived of their fundamental rights and counter protests

by Hindu boys who turned up wearing saffron scarves, the color associated with Hinduism.

Cameroon to Rebuild Hospitals Destroyed

by Boko Haram Cameroon’s government says it will rebuild hospitals and clinics destroyed by Boko Haram terrorists along the border with Nigeria. In a visit to the area this week, officials said the facilities were needed for villagers who have suffered from the conflict as well as for former Boko Haram members who have been rehabilitated.

Cameroon’s Ministry of Public Health says at least 35 hospitals along the country’s border with Nigeria have either been abandoned by medical staff or destroyed

by Boko Haram terrorists.

Minister of Public Health Manaouda Malachie this week visited some of the remaining hospitals along the border.

He says although working and living conditions are very difficult, the few medical staff members in former Boko Haram prone towns and villages are doing their best to save lives. Malachie says Cameroon’s

UN: Myanmar Soldiers Tortured, Mass Murdered People Myanmar’s military has engaged in systematic human rights violations, many amounting to war crimes and crimes against humanity, the United Nations said on Tuesday, in its first comprehensive human rights report since last year’s coup.

Security forces have shown a flagrant disregard for human life, using air strikes and heavy weapons on populated areas and deliberately targeting civilians, the U.N. High Commissioner for Human Rights, Michelle Bachelet, said.

Many victims were shot in the head, burned to death, arrested arbitrarily, tortured, or used as human shields, she said in a statement on the report, which urged “meaningful action” by the international community.

“The appalling breadth and scale of violations of international law suffered by the people of Myanmar demand a firm, unified, and resolute international response,” Bachelet said.

Myanmar’s military spokesperson did not answer calls seeking comment on the U.N. report on Tuesday.

The military says it has a duty to ensure peace and security. It has denied atrocities have taken place and has blamed “terrorists” for causing unrest.

Australia, Netherlands Begins Lawsuit against Russia for Bombing Aircraft The families of Australians killed in the downing of a Malaysia passenger airliner over Ukraine in 2014 have welcomed Canberra’s decision to launch legal action against Russia.

All 298 people on board, including 38 Australian citizens and residents, died when a Russian-made Buk missile hit the plane. Both Australia and the Netherlands maintain Russia was responsible under international law for the attack, and have now initiated legal proceedings in the International Civil Aviation Organization (ICAO).

Malaysia Airlines Flight 17 was en route from Amsterdam in the Netherlands to Kuala Lumpur, Malaysia, when it was shot down over eastern Ukraine.

International prosecutors believe it was downed by a Russian-made surface-to-air missile.

All 298 people on board the plane were killed, including 38 Australians.

Australia and the Netherlands maintain that Russia was responsible under international law for the attack and have now initiated legal proceedings in the International Civil Aviation Organization, an agency of the United Nations with responsibilities to promote safe international air transport. Its task is to mediate between countries and does have the power to impose sanctions against a member state found to have breached international laws. It could, eventually, demand that Russia pay compensation to victims’ families of the MH17 tragedy.

Legal experts have said the court action launched by Australia and the Netherlands is unlikely to worry the Kremlin. The Russian government has denied any involvement in the downing of the Malaysian Airlines jet.

WEDNESDAY MARCH 16, 2022 • T H I S D AY

47

48

WEDNESDAY MARCH 16, 2022 •T H I S D AY

49

WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

WHO WILL STEER ILO?...

L-R: Former French Labour & Social Development Minister and Candidate for the International Labour Organisation (ILO) Director General election, Ms Muriel Penicaud; Nigeria's Labour and Employment Minister, Senator Chris Ngige and President, International Trade Union Congress (ITUC) & NLC, Ayuba Wabba, after the private session of the governing board where candidates presented their manifestos for the election which starts Monday, March 25, 2022 in Geneva. ... yesterday

House Committee Tackles NNPC for Allegedly Protecting its Subsidiaries from Lawmakers’ Summons Juliet Akoje in Abuja The House of Representatives Public Accounts Committee has indicted the Nigeria National Petroleum Company (NNPC) of shielding its subsidiaries from honouring several summons extended to them by the National Assembly over audit queries raised against them running to several trillions of naira over the years.

The Chairman of the Committee, Hon. Busayo Oluwole Oke

(Osun-PDP) disclosed this when management of the NNPC led by its Chief Financial Officer, CFO, Mallam Umar Ajiya, who represented the Group Managing Director, GMD, Mele Kyari appeared before the Committee on numerous queries raised against the company yesterday.

Oke expressed displeasure over the failure of the NNPC and its subsidiaries to honour all the invitations that were extended to them on the various audit queries from the office of the

Auditor General of the Federation, which bordered on gross violation of financial regulations and non-rendition of financial accounts as and when due.

He said the Committee had resolved to extract the entire queries from the audit reports and publish them in national dailies for members of the public as well as the presidency to see how the people saddled with the responsibility of running the agencies are running them.

He declared that the Ninth As-

sembly would no longer tolerate such lukewarm attitudes from the heads of Ministries, Departments and Agencies (MDAs) of the federal government any more in the overall interest of the nation.

Oke stated that, "we are not here to persecute anybody or any agency, it is just for the principle of fair hearing we are inviting the MDAs to defend the queries raised against them by the office of the Auditor General of the federation.

"We are calling you to appear before us over the queries, if

you don't come, we have no other option than to uphold the queries, if you don't have something to hide, why are you running away from the parliament?"

He also directed the Clerk of the Committee to channel fresh letters of summons for the heads of the subsidiaries through the GMD, saying that each letter should contain synopsis of the audit queries as it affects each of the subsidiaries.

He further directed that the GMD should personally lead

the heads of the subsidiaries to the hearing to respond to the queries on the day they are to appear Ajiya, in his response pleaded with the Committee that management would never have any reason to shield the heads of its subsidiaries.

He, however, stated that the GMD himself had planned to appear in person before the Committee, but for certain circumstances beyond his control, assuring that henceforth the story would not be the same again.

Sylvester Idowu in Warri

stated that the Isoko nation had not been occupying its rightful place as an oil and gas-bearing community as well as host to many companies.

Igbele demanded that, "OML 26, 28, 30, 61 and others should directly engage Isoko youths into the onshore/offshore of its platforms and also carryout intensive training of the people on various skills acquisition programmes.

"Failure to address the above, there shall be coordinated attack

on oil and gas flow stations, facilities, pipelines and trunkline including movable and immovable equipment and materials of the oil companies.

"Contractors, expatriates, engineers and non-indigenes working with the oil companies to quit Isokoland for safety reasons."

Igbele alleged that there had not been any visible or viable federal government project in Isokoland since its creation in 1963 despite its contributions to the nation's economy.

Edo APC Promises Automatic Youths Threaten Attack on Oil Ticket to 14 Members-elect Installation in Delta over Marginalisation Adibe Emenyonu in Benin City

The All Progressives Congress (APC) in Edo State yesterday said the 14 state lawmakers elected in 2019, on its platform but were yet to be inaugurated would be given automatic tickets to contest the 2023 State House of Assembly election except those who choose otherwise.

State Secretary of the party, Lawrence Okah disclosed this in Benin City, during the official declaration of interest by the former Chairman of Oredo local government council, Osaro Obazee to vie for the party’s ticket to contest for the House of Representatives into the Oredo Federal Constituency.

Okah said: “The 14 lawmakers from our party have the right of first refusal because

of the way they were treated by the government of Godwin Obaseki, that is what we have said because despite all they have passed through, they have remained with the party, APC “Osaro Obazee has done well, he has been the mayor of the city, he has done very well and this is for people to learn that patriotism is very important, we know what he did when he was chairman of Oredo local government area.”

On his part, Obazee said he decided to contest because the people needed improved representation, adding that with his antecedent coupled with alleged disenchantment on the ruling Peoples’ Democratic Party (PDP), he would win the election if he gets the ticket of the APC.

He added: “I am a consultant in political affairs in my local government, I am not trying to praise myself, but I am coming from the grassroots and I have done my sampling, so I am not afraid that if I get the ticket of the party I will be contesting against the ruling government because even within them, we have done sampling of opinion and they have said severally that they are dissatisfied with the leadership of the party in government today so what that means is that it creates opportunity for people like us that are contesting to reach out to them and we have done a very serious homework and we believe the election will be won. My antecedents were there when I was a local government chairman.”

Aggrieved Isoko youths, under the aegis of the United Coalition Front Emancipation Movement (UCFEM) in Delta State have threatened to launch coordinated attacks on oil facilities in their land over the alleged refusal of oil companies to engage them on their onshore and offshore platforms.

The youths also condemned the refusal to promote into management positions the few Isoko sons and daughters working with the oil companies, describing the development as an aberration to the oil-producing community.

The group, in a statement signed by its spokesman, Mr. Ogbu Igbele, made available to journalists in Warri, yesterday,

Anxiety as PDP NEC, Caucus, BoT Adjourn to Today on Presidential Ticket Chuks Okocha in Abuja Following the inability of the National Caucus of the Peoples Democratic Party (PDP) to reach a decision on the zoning of its presidential ticket on Monday night, the party has adjourned its scheduled National Executive Committee (NEC) and Board of Trustees (BoT) to today,

Wednesday, to enable further consultations among stakeholders.

The NEC and BoT meetings were scheduled for Tuesday morning and late afternoon, but information released by the party’s National Secretary, Senator Samuel Anyanwu, moved all the meetings to Wednesday to hold separately.

The South, particularly, the

southeast has been insisting to produce the presidential ticket but the north is advocating that the ticket be thrown open to all interested persons.

Meanwhile, former Vice President and candidate of the Peoples Democratic Party (PDP) in the 2019 presidential election, Alhaji Atiku Abubakar, has fixed March 23 to officially

declare his intention to contest the 2023 presidential election.

Although the former Vice President and some of his key support groups have been criss-crossing the nation in a bid to consult critical interests, socio-political blocks, opinion leaders and influencers within and outside the PDP, he is yet to make his 2023 ambition public.

Power Outage Cripples Appeal Court in Lagos Wale Igbintade Activities at the Court of Appeal, Lagos Division, were yesterday paralysed as the generator supplying electricity to the court suddenly packed-up.

Lawyers and litigants that were in court with the hope that it would begin proceedings at 9am left disappointed as the two courtrooms were in total darkness.

Some lawyers were seen using their files to fan themselves as a result of the unbearable heat in the courtrooms.

Reliable source told our correspondent that the court had been without electricity for the

past three weeks and had been operating on generator.

However, the court could not resort to its alternative power source yesterday because the only generator, which supplies backup electricity was faulty and undergoing repairs.

The source stated that the only generator in the court has been over worked and there was need for another standby generator that could power the courtrooms.

The situation however prompted the court to adjourn all the cases as they could not be heard due to the darkness.

A court official, who declined to be named, said efforts were on to repair the generator.

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NEWS

INTERNATIONAL EXCELLENCE AWARD WINNERS...

Vice President Yemi Osinbajo ( M) with the Three International Excellence Award Winners for the WASSCE for School candidates , 2021; Nweze Chinasa 1ST Winner (2nd-R); Edeani Godswill , 2nd Winner (2nd-L); Paschal Chiemerie (3rd –L) and Minister of State for Education, Chukwuemeka Nwajiuba, during WAEC 70th Annual Council Meeting at Transcorp Hilton Hotel. Abuja ... yesterday

Falana: Ekwo's Judgment Sacking Umahi, Deputy, 15 Legislators in Tandem with Law Insists Supreme Court never endorsed defection, says all votes belong to political party, not transferable Alex Enumah in Abuja A Senior Advocate of Nigeria and rights activists, Mr Femi Falana has lend his voice to the controversy surrounding the recent court order sacking Ebonyi State Governor, Mr Dave Umahi, his deputy, Eric Igwe and 15 lawmakers of the Ebonyi State House of Assembly.

Falana, in a statement noted that the trial judge Justice Inyang Ekwo was in order when he sacked the defendants on account of their decamping from the People's Democratic Party (PDP) on whose platform they were elected into office to the All Progressives Congress (APC).

The senior lawyer faulted his colleagues and other public analysts who believed the judgment on the claim that their is no constitutional provisions on defection citing as an example the Supreme Court's decision on former Vice President, Atiku Abubakar.

"Contrary to the misleading impression conveyed by many lawyers, the Justices of the apex court did not endorse the defection of Vice President Abubakar. Indeed, in the leading judgment of the Court, Akintan JSC said that, The action cannot be justified by the fact that he (1st respondent) had been suspended or expelled from the ruling political party under which he was jointly elected with the President or that he was exercising his fundamental right of association guaranteed by the Constitution.

What is required of him is to first resign and even after resigning from that office, he would still be precluded from dissociating himself from the collective responsibility for decisions taken by the cabinet while he was in office", he said.

Falana added that the Court although declined to order Atiku's sack but held that his action could fall under misconduct which would make him liable for impeachment by the National Assembly pursuant to section 143 of the Constitution.

He cited numerous cases to prove that the Supreme Court has been consistent in condemning cross carpeting and defection by Nigerian politicians, adding that the development has bedeviled the political morality of the country.

In maintaining that votes in an election belongs to the political parties, Falana presented several instances where INEC concluded election, declared a party winner of the election but could not issue certificate of return to the party's candidate due to litigation over the authentic flag bearer of the party.

"For instance, the INEC declared the All Progressives Congress (APC) as the winner of the December 5, 2020, senatorial bye-election held in Imo North" but "was unable to return a candidate at the time as a result of several court orders for and against the two major contenders.

To that extent he argued that Umahi and his deputy were issued certificate of return based on the votes the PDP won in the election, adding that neither Umahi and Igwe had their names on the ballot.

"Even though Governor Umahi has decamped from the PDP to APC neither the INEC nor the High Court of Ebonyi State has amended the Certificate of Return to read "Nweze David Umahi of the All Progressive Congress" He further argued that while the governor was at liberty to exercise his freedom of association by decamping from PDP to APC, he cannot be permitted to infringe

on the democratic rights of the 393, 343 citizens who voted for him as the governorship candidate of the PDP. "Furthermore , in view of the several provisions of the Constitution and the Electoral Act which have provided for participatory democracy on the basis of majoritarian rule the defection of Governor Umahi cannot wipe out the 393, 343 lawful votes scored by the PDP in Ebonyi State", he added.

He said what Governor Umahi should have done honourably was to resign when he left the mandate of the party that voted him into power rather than contesting the matter. “You cannot get a mandate

of diesel has made it difficult to ensure production at this time, as diesel has gone up to N720 and N730 per litre.

“It is getting extremely difficult to produce and I don’t know how we are going to cope because 70% of industries are running on diesel, there is no light.

“There is no power supply, we are having 30 per cent of what it used to be, whereas the disposable income of people is not increasing and the cost of products are going up.

“Even in my factory now, we are only running one shift instead of three shifts of eight hours each,”

agents, in the same way it contests, wins or loses elections through a candidate it nominates who acts as its agents. There is no provision for independent candidates. The candidates nominated to contest at an election by his party acts as an agent of his party. He is, as it were, an agent of a disclosed principal and as far as third parties are involved, benefits and liabilities accruing to the candidate (as agent) belong to his party (the disclosed principal).”

“Thus, in line with the tenets of the rule of law the INEC has been guided by the decisions of the Supreme Court in Amaechi v INEC and Wada v Bello. For instance, the INEC declared the

All Progressives Congress (APC) as the winner of the December 5, 2020, senatorial by-election held in Imo North. The returning officer reportedly announced that APC polled a total of 36, 811 votes while PDP came second with 31,903 votes but the INEC Resident Electoral Commissioner in Imo, Professor Francis Ezeone said that the commission was unable to return a candidate at the time as a result of several court orders for and against the two major contenders.

Interestingly, the commission did not declare the candidate who won the election until the Supreme Court affirmed Frank Ibezim's candidacy, several months after the election.”

Deep Blue Project: We Followed Due Process to Secure $195.3m Contract, Says Amaechi BPP insists no document to show contractor's legitimacy

Udora Orizu in Abuja The Minister of Transport, Rotimi Amaechi has said that due process was followed and approval duly secured in the award of $195.3 million Deep Blue contract project to HSL International Limited.

On July 27, 2017, the Federal Ministry of Transportation on behalf of the federal government had entered into a contract (the Deep Blue Contract) of $195,300,000 (N59,839,930,000) with a foreign private company, HLS International Limited, for the supply of certain security and surveillance equipment and systems, and also for

WITH WORSENING POWER SUPPLY, RISING PRICE OF DIESEL, OPS FORESEES TOUGH ECONOMIC ENVIRONMENT The Manufacturers Association of Nigeria (MAN), has also warned that Nigerian manufacturers are set to encounter difficulties meeting production of goods as the cost of diesel hits N730 per litre.

This was made known in a statement by Mr Lanre Popoola, Chairman, Manufacturers Association of Nigeria (MAN), Oyo, Osun, Ekiti and Ondo on Sunday, according to the News Agency of Nigeria.

He also urged for the government’s intervention through palliatives to enable manufacturers to handle the costs.

Popoola said, the current costs

from the people who voted a party and transfer it to another whenever you wish without legal consequences. That is not just.

It is our wish that the Supreme Court would uphold this sound judgment and bring an end to the annoying and irresponsible political prostitution in Nigeria that is not helping the growth of our democracy.”

“With respect, the Supreme Court has never jettisoned its position in Amaechi’s case. Hence, in Wada v. Bello (2017) 3 W.R.N. 72; the court reiterated and upheld its earlier position in Amaechi’s case when it held that “A political party is an abstraction. It has to canvass for votes through its members as

he said.

He urged that many businesses are currently running limited hours on diesel as they cannot afford to use generators all day, citing that diesel suppliers cannot agree for organizations to make a flexible payment plan such as instalments, while they deliver the products in trust.

Meanwhile, it was learnt that the latest system collapse from the national grid occurred between 5pm and 6pm, as the grid generation dropped from 3,000 megawatts earlier to 1,758 megawatts, leaving just 12 Generation Companies (Gencos) in operation.

establishing the Integrated National Coastal Surveillance and Waterways Protection Solutions with command and control of infrastructure in the country’s territorial waters.

In addition to the contract sum of $195,300,000, the Nigerian Maritime Administration and Safety Agency (NIMASA) agreed to pay the sum of $19,530,000 to HLSI as Management Training Consideration and according to Appendix 4 of the agreement, both sums would be paid in monthly instalments, over a period of 36 months from July 2017 until June 2020, as further payments were also made as at July 2017 to date.

The lawmakers had in December, 2021, while adopting a motion sponsored by Hon. Benjamin Kalu, mandated the Committee on Navy to investigate the legality of the contract agreement to know whether it was in line with extant laws and regulations. The Committee was also mandated to ascertain the standards of all platforms purchased to the Nigerian Navy and determine whether they are according to the actual amount of money spent by the government on the contract and any other matter relating to it.

However, addressing the House Committee on Navy chaired by Hon. Yusuf Gagdi, the minister while giving a detailed background of how the project was conceptualised said they got

approval from Bureau for Public Procurement (BPP) after getting the president's approval.

He noted that the execution of the contract had reduced piracy and the level of crime on Nigerian waters.

Amaechi said, "I said it was an RFP but this time we didn't ask them. By the time they came forward when we took over the reins of affairs in government, we were number one in terms of piracy in the world.

“It was Somali, Gulf of Elem, Gulf of Guinea and we are Gulf of Guinea. In less than two to three years, we were now number one.

Rampant killings. You heard of the fact that Denmark came to our water and killed two Nigerians and arrested and we protested.

“It was worse than that. It became so bad that Americans wrote to us that they want to come with their guns, we said no, you can't come into Nigeria because of sovereignty. And they said they won't come down from the vessel. We said whether you come down or not, the moment you enter our water, you are under our protection.

“But what they are telling us is that you can’t protect us because you have been having this crime all the time. It got so bad that Europe now had a meeting and decided to send their war vessels.”

He said further: "At that point, Nigeria had no option but to act

and I wrote to the President for an approval to engage them and he approved. We set up a committee headed by NSA, Chief of Army Staff, Chief of Naval, Chief of Air Staff, Chief of Defence State, IGP, DG, SSS. “And the ends of that assessment, there was a bit of disagreement between us and then, we went back to the President who then removed the NSA and replaced him with the Minister of Defence.

It was at the time that we went to the BPP after getting the President's approval. It was the BPP that gave us approval. That's what happened.”

The minister, however, wondered why there was special interest in the project, saying that the parliament and EFCC had looked into the matter before with report submitted to the president.

"I worry a lot about what is the special interest in this deep blue project. I was to be in Nairobi last week because the AU gave us an award for it. Our crime rate in the sea has come down drastically,” he added.

However, in their presentation, the BPP which was said to have issued the certificate of no objection to the HSL failed to provide evidence showing the legitimacy of the company.

Speaking on behalf of the Director General, Mamman Ahmadu, the officer who reviewed the procurement, Isaiah Yesefu, said the company was qualified to handle the project.

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NEWS

ACCI INTERNATION WOMENS DAY...

L-R: Director-General, Abuja Chamber of Commerce and Industry (ACCI), Victoria Akai; first Deputy President, Chief Emeka Obegolu; MD/CEO Fidelity Bank Plc, Nneka Onyeali-Ikpe; Minister of Women Affairs, Pauline Tallen; Vice President, Women Development & Gender Matters, ACCI, Mrs. Roseline Obiageli Nwosu; Policy Fellow, Mrs. Chioma Njoku; and Executive Director, North, Fidelity Bank, Hassan Iman at the ACCI International Women’s Day Event held in Abuja...recently

NBS: Foreign Trade Recorded N1.96trn Deficit in 2021 Declined by N1.59trn in Q4 as India remains Nigeria’s major trading partner Moderation in food prices slows inflation to 15.7% James Emejo in Abuja Nigeria's total external merchandise trade recorded a deficit of about N1.94 trillion in 2021, the National Bureau of Statistics (NBS) announced yesterday. Also, yesterday the NBS disclosed that the Consumer Price Index (CPI), which measures inflation, slowed to 15.70 per cent (year-on-year) in February 2022, compared with the 17.33 per cent recorded in the corresponding month of 2021.

According to the Foreign Trade in Goods Statistics (Q4 2021), released by the statistical agency, total trade in 2021 stood at N39.75 trillion, which was 57.60 per cent higher than the N32.42 trillion recorded in 2020.

However, the value of trade declined by about N1.59 trillion,

to N11.71 trillion in the fourth quarter of 2021, compared to N13.30 trillion in the preceding quarter, the NBS added.

According to the agency, the Q4 performance represented 11.79 per cent shortfall, though 74.71 per cent higher than the Q4 2020 estimate.

Nonetheless, total exports in Q4 amounted to N5.77 trillion, indicating an increase of 12.27 per cent over the N5.13 trillion recorded in the preceding quarter. Exports accounted for 49.26 per cent of total trade in the review quarter.

On the other hand, total imports amounted to N5.94 trillion in Q4, compared to N8.15 trillion in Q3, and accounted for 50.74 per cent of total trade.

The Q4 performance, however, indicated a trade deficit of N173.96

billion, with an improvement of 12.72 per cent over the N3.02 trillion recorded in the preceding quarter.

Total imports in 2021 stood at N20.84 trillion, representing an increase of 64.11 per cent over the value recorded in 2020, while total export was valued at N18.91 trillion, an increase of 50.99 per cent compared to the preceding year.

In Q4, however, export was still oil-dependent, as crude oil exports amounted to N4.26 trillion and accounted for 74.04 per cent of total exports.

The non-crude oil contributed N1.49 trillion or 25.96 per cent to total exports of which non-oil products amounted to N810.88 billion representing 14.06 per cent of total exports during the quarter.

Nigeria exported most products

2023: PDP on Course with INEC Guidelines, Timetable, Says Ayu Chuks Okocha in Abuja

National Chairman of the Peoples Democratic Party (PDP), Senator Iyorchia Ayu, has saidthe party was on course with the timetable and guidelines for 2023 general elections as released by the Independent National Electoral Commission (INEC).

Ayu, who stated this at the PDP national Ccaucus meeting held on Monday night in Abuja, said the National Working Committee (NWC) was working round the clock to ensure that the party kept to the timetable issued by INEC. “We are very much on course and this meeting is for us to look at our own timetable and guidelines. We are determine that we will keep strictly to the guideline in spite of the short time that is available to us. We will keep to this timeline.

“We are sure that by next year, we will win most seats in the National Assembly and most importantly produce the next president. We urge Nigerians not lose hope. We are coming and we will rebuild this country,” Ayu said.

He said in spite of the challenges, the PDP had continued to make progress, including winning in recent elections at the FCT Area Councils Election and by-elections in Cross River, Ondo and Imo. “We are making steady progress and I believe that with time

we will take over everywhere,” he said.

Ayu, who said serious issues would be discussed at the meeting, added that the PDP NWC was working with stakeholders to resolve whatever problems that were in the party.

“That also brings me to crisis in other state chapters. We are to conduct congresses in state chapters that we did not have congresses before. Whatever problem that may have arisenfrom those congresses, we are addressing them and we hope that by the time we resolve everything, the party will be stronger than ever before,” he said.

In his remarks, the Chairman, PDP Governors’ Forum, and Governor of Sokoto State,Aminu Tambuwal, said the recent elections were reflections of expected victory in 2023 , urging members of the national caucus to bury their differences.

“I appeal that we all as leaders and members of this great party must bury our differences and work together harmoniously.

We must give the right signal to Nigerians, that we are united and ready to rescue this country,” Tambuwal said.

Also speaking, Chairman, PDP Board of Trustees, Senator Walid Jibrin, appealed to the party leaders not to abandon the old party members, while welcoming those retuning after defecting to other parties.

Jibrin described the meeting as critical to enable the party make important decisions.

Senate Minority Leader, Enyinnaya Abaribe, said the PDP Caucus in the National Assembly was doing its best in the interest of the country, adding that even though the Gender Bills suffered some setbacks, the PDP lawmakers wanted to ensure that the National Assemblytook a second look at it.

to Europe with goods valued at N2.40 trillion or 41.76 per cent of total exports, while Asia accounted for N1.87 trillion or 32.52 per cent.

Exports to Africa was valued at N773.83 billion or 13.42 per cent of total exports of which N250.52 billion worth of goods were exported to ECOWAS countries while exports to America amounted to N702.74 billion or 12.19 per cent of total exports.

India remained the top export destination for Nigeria, accounting for N874.86 billion or 15.17 per cent in the quarter under review.

Others included Spain, France, The Netherlands and Indonesia with goods valued at N789.23 billion or 13.69 per cent, N485.35 billion or 8.42 per cent, N425.85 billion or 7.38 per cent, and N288.10 billion or five per cent of export trade, respectively.

The five countries collectively accounted for 49.65 per cent of the value of total exports in Q4, the NBS added.

Nigeria’s goods imports were mainly from Asia, valued at N2.74 trillion or 46.19 per cent of total imports, Europe N2.42 trillion or 40.78 per cent, America N571.70 billion or 9.62 per cent, Africa N161.47 billion or 2.72 per cent and Oceania N41.24 billion or 0.69 per cent.

Imports from ECOWAS countries accounted for N35.76 billion, or 0.6 per cent of the value of total imports.

Similarly, in 2021, Asia also accounted for the largest imports to Nigeria, representing 46.47 per

cent of total imports, valued at N9.68 trillion.

This was followed by Europe with N8.35 trillion or 40.10 per cent of total imports, and America, with N2100.70 billion or 10.08 per cent of total imports.

Moderation in Food Prices Slows Inflation to 15.70% in February

The CPI, which measures inflation, slowed to 15.70 per cent (year-on-year) in February 2022, compared with the 17.33 per cent recorded in the corresponding month of 2021.

The figure meant that the headline index slowed in February, compared to the same month in the previous year.

Month-on-month inflation increased to 1.63 per cent in the period under review, representing 0.16 per cent increase compared to 1.47 per cent in January.

The composite food index stood at 17.11 per cent in February 2022 compared to 21.79 per cent the previous year.

Month-on-month, however, the food sub-index increased to 1.87 per cent in February, up by 0.25 per cent from the 1.62 per cent recorded in January.

According to the CPI figures for February, the rise in the food index was caused by increases in prices of bread and cereals, food product, potatoes, yam and other tuber, oil, fats and fruit.

On the other hand, core inflation, which excludes the prices of volatile

agricultural produce, rose to 14.01 per cent in the review period, up by 1.63 per cent when compared with12.38 per cent in February 2021.

On a month-on-month basis, the core sub-index increased by 1.33 per cent in February 2022. This was up by 0.08 per cent compared with the 1.25 per cent recorded in January 2021.

The core index recorded highest increase in prices of gas, liquid fuel, wine, tobacco, spirit, narcotics, solid fuels, cleaning, repair and hire of clothing, garments, shoes and other foot wear, other services in respect of personal transport equipment, clothing materials, other articles of clothing and clothing accessories and other services.

Month-on-month, the urban index rose to 1.65 per cent in February, compared to 1.53 per cent the preceding month, while the rural inflation also rose to 1.61 per cent from 1.42 per-cent in January.

The NBS pointed out that inflation year-on-year was highest in Cross River State, with 18.84 per cent, while in Gombe State it was 17.70 per cent, and Abuja 17.68 per cent, Kwara 13.82 per cent, and Sokoto 13.93 per cent, and Anambra 14.43 per cent recorded the slowest rise in headline index in February.

Month-on-month, however, the highest increases were observed in Adamawa 2.75 per cent, Cross River 2.61 per cent and Enugu 2.40 per cent, while Zamfara 0.16 per cent, Akwa Ibom 1.09 per cent and Rivers 1.14 per cent recorded the slowest rise in prices in February.

DESPITE AKPANUDOEDEHE’S OPTIMISTIC STATEMENT, BUNI, BELLO RECONSIDER POSITIONS with its National Executive Committee (NEC) meeting slated for Thursday. Spokesperson of the party and the National Youth Leader, Mr. Ismaeel Ahmed, stated this yesterday in Abuja while briefing journalists at the end of the Caretaker/Extraordinary Convention Planning Committee (CECPC) meeting held at the party secretariat.

The proposed emergency NEC meeting had earlier hit the rock after INEC failed to recognise the leadership of the party under Bello, who signed the notice of the meeting.

But the decision to go ahead with the NEC meeting means that Buni's position as Interim Caretaker Chairman is not on the agenda as he and Bello are expected to stand down. It should also be noted that Buni is still on medical leave as the letter he transmitted to Bello is still in force.

Although Akpanudoedehe was at the party secretariat yesterday, where he declared that the ruling

party was no longer in crisis, his decision not to attend the caretaker committee meeting, which was presided over by former President of the Senate, Ken Nnamani, was an indication that all was still not well with the ruling party.

Regardless, Ahmed told journalists, "We just finished one of our regular committee meetings. As you are all aware, I told you last Friday that I would be interfacing with you for the next couple of days. I know that there is a couple of information that would go out in writing from the Office of the Director of Organisation. But I just wanted to make a couple of clarifications, because there were a lot of social media reports on the date and activities.

"The caretaker committee has mandated me to say that the sale of forms has begun for all the offices, both zonal and national. Like I said on Friday, the zonal congresses will now be moved to 26th of March on Saturday. So, there will be no separate zonal congress apart from

the national convention. All will happen on the same day.

"Of course, we expect stakeholders from every zone to meet and decide on those things. The prices for the zonal positions, I think that is where there is a bit of misinformation or typographical error.

"The position of the national chairman has been agreed by the party to be sold at N20 million.

The form for the position of the National Secretary is agreed to be sold at the price of N10 million. The forms for the position of Deputy National Chairman (North and South) will be sold at the same N10 million. All other NWC positions will be sold at N5 million.

"All other NEC positions, those are the deputy positions that are not members of NWC, the forms are going to be sold for N1 million. All positions at zonal level, with the exception of the Zonal Vice Chairman, which is also a member of the NEC, would be sold at N500, 000."

He noted that women and physically challenged persons would buy the forms at 50 per cent of the prescribed rates, adding, "Convention is still 26th of March, we are working towards it and we are looking forward to it.

We are going to be having our NEC meeting on Thursday, 17th of March."

When reminded that the secretary of the party was at the secretariat earlier but left before the commencement of the meeting, Ahmed said he was not aware that Akpanudoedehe came.

"Walahi, I don't know. I'm not in control of his itinerary. He doesn't speak to me before he comes to the office, he doesn't speak to me when he's leaving. I'm not even aware he was in the office. I personally thought he had travelled," Ahmed said, stressing that Bello travelled but was back, and would be at the secretariat today.

He said the party was expecting between 3,000 and 4,000 delegates at the convention.

WEDNESDAY MARCH 16, 2022 ˾ T H I S D AY

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NEWS

Lagos to Implement Public Complaints, Anti-Corruption Law Goddy Egene The war against corruption is set to get a big push in Lagos State, with the appointment of a Chairman for the Public Complaints and Anti-Corruption Commission.

Governor Babajide Olusola Sanwo-Olu, who signed the law setting up the Commission in April 2021, has appointed Hon. Justice Mojisola A. Olatoregun (rtd) as Chairman. The appointment is pursuant to the power vested in Mr. Governor under Section 3(3) of the Lagos State Public Complaints and Anti-Corruption Law, 2021.

The Lagos State Commissioner for Information and Strategy, Mr. Gbenga Omotoso said in statement yesterday that Hon. Justice Olatoregun retired as an administrative Judge of the Federal High Court, Lagos Division, after a tour of service in other divisions of the Federal High Court across the Federation.

Hon. Justice Olatoregun (rtd) has been trained in international fraud and terrorism, cybercrime and electronic evidence, banking fraud, mediation and other courses.

She is expected to bring her huge wealth of experience to bear on the job.

“The Lagos State Public Complaints and AntiCorruption Commission Law 2021 is a testimony to the State Government’s effort towards entrenching waccountability

in governance and checking malfeasance among officers entrusted with public resources.

It is all part of the T.H.E.M.E.S Agenda - the six-pillar development plan of the SanwoOlu administration,” Omotoso said.

According to him, the

commission will be independent in its operations and functions while complementing the efforts of similar Agencies in the police and federal establishment.

“TheAnti-Corruption Commission Law is intended to deepen accountability and transparency in the expenditure

of appropriated public funds.

It is backed by the instrument of law to investigate and prosecute officials of the State Government and registered contractors indicted for economic crimes and financial misappropriation.”

According to the Governor, the law will further boost

confidence in the public to make complaints against public officials for investigation and prosecution.

Other functions of the commission include: investigating any allegations of non-performance of any government contract;making policies for appointments, promotion and discipline of its

staff; investigating all financial crimes and anti-corruption cases with regards to the State Government; ensuring transparency in the management of government resources; and confiscating proceeds of corruption and financial crime-related offences or property.

BOOSTING NIGERIA-SPAIN BUSINESS TIES…

L-R: Economic and Commercial Counsellor, Embassy of Spain in Nigeria, Mr. Juan Jose Otamendi; Ambassador of Spain to Nigeria, Mr. Juan Sell; President, Lagos Chamber of Commerce and Industry (LCCI), Dr. Michael Olawale-Cole and Director General, LCCI, Dr. Chinyere Almona during a courtesy visit of the ambassador to LCCI in Lagos…recently ETOP UKUTT

NAPTIP Renews Clamp Court Strikes Out Case against NLNG, Former MD down on Human Traffickers Oil company files defamation charges against accusers

Michael Olugbode in Abuja

The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has began a renewed clampdown on child traffickers, including those involved in buying and selling of human beings.

The agency in the last one year has rescued no fewer than 30 babies from criminal elements, traced the parents and reunited the babies with them while those arrested are facing prosecution in different courts across the country for child trafficking.

According to a statement issued by Head, Press and Public Relations of NAPTIP, Ms. Stella

Nezan.

The statement said that the Director-General of NAPTIP, Dr. Fatima Waziri-Azi, has directed all zonal and state commanders of the agency across the country to commence surveillance operations within their jurisdiction to ensure that all child traffickers, including those involved in buying and selling of human beings, are apprehended and made to face the wrath of the law.

Waziri-Azi also directed that all homes where buying and selling of babies are suspected to be going on (also known as baby factories) should be unearthed, shut down and the operators apprehended for prosecution.

2023: Enugu Stakeholders Fault Group’s Claim on Zoning Gideon Arinze in Enugu Enugu stakeholders on the platform of the Enugu Rescue Group (ERG), have faulted claims by a political group, Ife-Emelumma Enugu West, over an existing governorship zoning arrangement in the state.

The Ife-Emelumma group had claimed that Enugu stakeholders reached an agreement during the administration of Sullivan Chime to zone the 2015 governorship seat to the Enugu North

senatorial zone and the 2023 governorship seat to the Enugu East senatorial zone.

But the National Coordinator of ERG, Mr. Ejike Iloh-Tasie, dismissed the claims as fabrications that “fly in the face of logic.”

He noted that all these years, the Ife-Emelumba Enugu West claimed it was the founding fathers of Enugu State that laid down the zoning formula, but suddenly shifted it to the Sullivan Chime era.

FCT Minister Sacks VIO Director

Olawale Ajimotokan in Abuja

The Minister for Federal Capital Territory (FCT), Mr. Muhammad Musa Bello, has sacked the Director of the FCT Directorate of Road Traffic Services (DRTS), Mr. Wadata Bodinga.

A statement that was issued yesterday by the FCT Chief Press Secretary, Mr. Anthony Ogunleye, said that the removal of Bodinga was announced on Monday during the FCT Executive Committee (EXCO)

meeting while another Director for DRST, Dr. Abdulateef Bello, was appointed.

In a related development, the FCTA is also set to begin the full implementation of the National Emergency Medical Service and Ambulance System (NEMSAS) in the territory.

The Secretary for Health and Human Services Secretariat, Dr. Abubakar Tafida, disclosed this following the presentation of a memo on the scheme to the FCT Executive Committee (EXCO).

A Magistrate Court in Port Harcourt, Rivers State, yesterday, struck out in its entirety, the criminal charges earlier preferred against the Nigerian Liquefied Natural Gas Limited (NLNG), its former Managing Director, Mr. Tony Attah and General Counsel, Mr. Akachukwu Nwokedi.

The Chief Magistrate, Blessing Vick-Jumbo, agreed with the defendants that the complaint

failed to satisfy Section 89(5) of the Administration of Criminal Justice Law of Rivers State, which stipulated that there had to first be a police investigation before the court could deal with private prosecution and consequently truck out the charges.

An indigenous vendor of Nigeria LNG Ltd, Macobarb International Ltd and its Managing Director, Mr. Ogboru

Shedrack, had initiated criminal proceedings against NLNG and its aforementioned officers through private prosecution, alleging the offence of obtaining by false pretence against the three.

NLNG and its staff had filed an objection to the suit on the ground that a statutory condition precedent to private prosecution under Administration of Criminal Justice Law of Rivers

State had not been satisfied and that the suit was statute barred under the Law. It was also contended that the elements of obtaining by false pretense did not exist in the charges.

NLNG had based on its commitment to promoting local content in Nigeria, awarded to Macobarb, a contract valued at N95,479,057.86, to be completed within a duration of 18 (eighteen) months in January 2014.

2023: Group Supports Osinbajo Presidency for Stronger, United Nigeria Emmanuel Ugwu-Nwogo in Umuahia A frontline group of eminent persons comprising leading professionals, business people and politicians in Nigeria and in diaspora has urged Vice President, Yemi Osinbajo to join the presidential race, saying that he is the leader Nigeria needs in 2023.

The group under the aegis

of ‘We Move Group’ expressed its support for the VP during its inaugural global virtual meeting organised to unveil its programmes focusing on building a strong support base to ensure the success of Osinbajo’s presidential bid.

Prof Osinbajo is widely expected to join the 2023 presidential race to succeed his boss President Muhammadu Buhari. But the VP is yet to

formally make his aspiration known.

However, We Move Group identified Osinbajo as “the most qualified and competent Nigerian to lead the country in 2023”, adding that Nigeria would be the better for it.

According to the group, Nigeria at this point in time need a rounded, competent, and credible candidate with nationwide appeal and acceptance, adding that this

should be “a deciding factor for the next general election and the overall future direction of the country”.

Speaking at the event, lead spokesperson of ‘We Move Group’, Mr. Wale Akingbade, explained that the decision to endorse the VP “after careful deliberations and consultations with decision makers and opinion leaders from diverse parts of the country”.

APC Chair: Sheriff Restates Interest as Mustapha Picks Nomination Form Contrary to claims that Senator Ali Modu Sheriff, has endorsed Senator George Akume, for the Chairmanship of the All Progressives Congress (APC), Deputy Director for Ali Modu Sheriff Campaign Organisation, Dr Cairo Ojougboh, has dismissed any such thing, saying his principal was still in the race.

In a statement yesterday

in Abuja, Ojougboh said the report indicating that Sheriff had endorsed Akume, the Minister of Special Duties and Inter-Governmental Affairs, was fake news.

He said that Sheriff was still consulting in spite of recent developments in the party.

“Our attention has been drawn to a report that the Sen. Ali Modu Sheriff Campaign

Organisation has joined forces with Malam Isa Yuguda Support Organisation to support the candidacy of Sen. George Akume for APC National Chairman.

“We which to disassociate ourselves from the report which emanated from Chief Ray Morphy, Co-ordinator South of the George Akume Campaign Organisation.

“The report is fake and should not be regarded, it is nothing but a figment of the imagination of those who planted it. We categorically state that the report which claimed that the Sheriff Campaign Organisation is working to ensure that George Akume emerged as APC’s national chairman at the National Convention is a blatant lie from the pit of hell,” he said.

Adire Market Week to Empower 1,000 Women, Youths in Ogun Sunday Okobi

As part of her commitment to develop and empower the youths and women of Ogun State, the First Lady of the state and Founder of Ajose Foundation, Mrs. Bamidele Abiodun, has concluded plans to organise the First Lady’s Adire Market Week between April 7

and April 9, 2022, at the June 12 Cultural Centre, Kuto, Abeokuta, the state capital.

The First Lady’s Adire Market Week, according to a statement issued and made available to THISDAY yesterday by the Press Officer, Office of the Ogun First Lady, Kemi Oyeleye, is organised to build on the gains of the successful launch

of the adireogun.com; promote financial inclusion for womenowned businesses, enhance the tourism potential of the state and further help the state to continuously setting the pace as the Adire capital of the world.

The statement noted that the event would showcase and promote authentic Adire products from 150 exhibitors in

Ogun State as well as the works of traders, fashion designers, models and other players in the Adire industry, with at least 5,000 local and international participants expected at this year’s edition thereby giving stakeholders in the industry the opportunity to showcase their products to the global market.

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NEWSXTRA

Aviation Fuel Scarcity: Lawmakers Recommend NNPC Grants Licence to Operators Udora Orizu in Abuja

The House of Representatives at the plenary, Tuesday, received report from the Committee it mandated to investigate the sudden scarcity and high cost of aviation fuel in the country.

The committee, chaired by the Deputy Speaker, Hon. Idris Wase, at one of its sitting on Monday, received the request of the Airline Operators of Nigeria (AON), who appealed to them to direct Nigerian National Petroleum Company (NNPC), Limited to grant them licence to import aviation fuel.

Chief Executive Officer of Air Peace, Mr. Allen Onyema, who spoke on behalf of the operators maintained that they had the competence to import the required ATK for their operations without any hitches.

Presenting the report, House leader and member of the Committee, Hon. Ado Doguwa, said the NNPC as requested should give airline operators licenses to import petroleum

products, particularly, ATK and also bring in cheaper products whenever possible.

The Committee also recommended that Major Oil Marketers Association

of Nigeria (MOMAN) and Depot and Petroleum Products Marketers Association of

Nigeria (DAPPMAN) and Airline Operators of Nigeria (AON) should meet within next

three days and agree on some terms of agreement, believed would address the problem.

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L-R:GeneralManager,E-CommerceandLogistics,NigerianPostalServices(NIPOST),Mr.OladapoOlakunle;representativeofthePostmaster-General,Mr.VictorEdugele;GeneralManager(GM), International Mail Processing Centre, Mrs. Joy Olayinka, and GM, EMS Nigeria, Mr. Abiodun Ogundele, during the inauguration of POSTAGYE-Commerce App by NIPOSTin Lagos…yesterday

A’Ibom Guber: Ekpenyong Terrorists Kill DPO, Six Others in Niger Community Withdraws Support for Umo Eno $UP\ R΀FHU NLOOHG LQ 'HOWD Okon Bassey in Uyo The former Deputy Governor of Akwa Ibom State and Senator representing Ikot Ekpene Senatorial District in the Senate, Christopher Ekpenyong, may have dropped his support for Pastor Umo Eno, the preferred choice of governor Udom Emmanuel in the 2023 governorship election in the state.

Senator Ekpenyong had during consultation on him by Pastor Eno recently vowed to mobilise support from his constituent to ensure he succeed in his gubernatorial ambition.

But when the Senator representing Akwa Ibom North East (Uyo) Senatorial District,

Senator Bassey Albert Akpan consulted him, Senator Ekpenyong said God revealed to him that the next governor of Akwa Ibom State will be Senator Akpan popular called OBA. Receiving Senator Akpan, who went to consult him over his governorship ambition in his country home in Obot Akara LGA, Senator Ekpenyong extolled OBA’s sterling qualities and laudable achievements both as former commissioner of Finance and in the Senate.

Addressing the supporters who accompanied Senator Akpan during the private consultative, the former deputy governor said: “I dont know what others are saying and what they heard.

Apapa LG Donates Free Jamb Forms to Indigent Students Oluwabunmi Fache The Executive Chairman Apapa Local Government Hon. Idowu Adejumoke Senbanjo, recently presented jamb forms to indigent students of Apapa.

The presentation, according to her, was to fulfill part of her electioneering promises in assisting some of the indigent students in the community.

She said education remains the most potent weapon against retrogression and underdevelopment and is also the bedrock of every development in the society.

“On this note I am glad to present this year UTME forms to indigent students amongst us and I implore you to gird up your loins and ensure that you achieve greater success in the examination.”

I would like to advise all beneficiaries of these noble efforts of the local government to take it as a challenge by making sure that our efforts are not in vain. I equally admonish all the beneficiaries of this noble gesture to shun all negative vices and bad behaviours which are but not limited to examination malpractices, thuggery, cultism, cyber-crime etc. which often leads to poor self- esteem.

Laleye Dipo in Minna and Sylvester Idowu inWarri

The Divisional Police Officer(DPO) in Nasko Police Station in Magama Local Government Area of Niger State, Chief Superintendent of Police(CSP) Umar Dakingari and two other policemen have been killed by terrorists.

Four men of local vigilance group were also killed by the

gunmen in the incident which occurred yesterday afternoon.

This is just as suspected gunmen have shot dead the Operations Officer of 3 Battalion, Effurun, near Warri in Delta State identified as Lieutenant Musa Yussuf.

Very reliable source told THISDAY that the gunmen rounded up the policemen and local vigilance men when they were planning to counter

the attack of the terrorists who infiltrated the local government headquarters after their raid of parts of Kebbi State.

It was learnt that the DPO got wind of the planned assault by the gunmen and immediately started mobilising his men for the counter offensive.

Unknown to the DPO, the terrorists have already surrounded the station and before they knew what was happening, they

started shooting.

It was in the process that the DPO was first hit before his subordinates and the men of the local vigilance group were also felled.

The terrorists later, according to a report , entered the armoury and escaped with some arms.

The gunmen also went on a shooting spree in the town making the people to run helter-skelter.

Kogi Berates former Progressive Gov’s Forum DG over Comments on Bello’s Presidential Bid Kogi State Government yesterday berated a former Director-General (DG)of the Progressive Governors’ Forum(PGF), Salihu Lukman, over his outbursts against the state governor, Yahaya Bello and the Governor Mai Mala Buni APC Caretaker Extraordinary Convention Planning Committee (CECPC).

Lukman had accused the party leadership of extorting aspirants

ahead of the March 26 national convention and also asked that Bello be prevented from getting the presidential ticket of the party.

The former PGF DG also alleged that Bello had yet to commence payment of N30,000 minimum wage as announced and that workers were earning 25 per cent of their salaries.

Responding in a statement yesterday, the Commissioner for

Information and Communications, Kingsley Fanwo, the state government said Lukman’s allegations were baseless, adding that he should not “allow the frustration of his unceremonious and embarrassing exit as the Director-General of PGF take possession of his reasoning to the extent of disparaging party leaders.”

Also, the Chairman of the

Nigeria Labour Congress in Kogi State, Comrade Onu Edoka, has confirmed that the state government has embarked on the payment of N30,000 minimum wage to workers in the state, saying the Governor Yahaya Bello administration has not been owing salaries or paying 25 per cent of salaries, contrary to Lukman and other naysayers’ claims.

Despite Diverse Interests, APC Still Intact, Says Musa A leading aspirant for the position All Progressive Congress (APC) national chairman, Senator Mohammed Sani Musa, has said despite the seemingly diverse interests, the ruling party is still united and intact.

According to him, President Muhammadu Buhari, as the leader of the party, is on top of the situation in APC and has everything under control.

Speaking on Television

Continental (TVC) News Tonight, the Niger East Senator also discussed about APC’s preparations for the convention and his plans for the party, if elected the national chairman of the party.

The ruling party has been enmeshed in controversies and clash of interests ahead of its forthcoming March 26 national convention billed for the FCT, Abuja.

Fielding questions on if the

selection of candidates for the chairmanship position will go down to consensus or votes by the delegates, Senator Musa affirmed that both are within the party’s constitution and he will support whichever method of the party leadership decides on.

Senator Musa further stated that if he emerges as the national chairman of the party, he will strengthen its structure in line with the ideology of its founding fathers and make it a worthy

institution as the largest party in Africa.

Reeling out some of his programmes, the chairmanship aspirant pledged to institutionalise and make the APC a political party that will work its policies to support the women and youths in both the internal working and developmental structures of the ruling party, if given the opportunity at the forthcoming National Convention.

John Shiklam in Kaduna

governorship aspirant that has publicly declared his intention.

Addressing party leaders and hundreds of supporters at the party secretariat, he praised Governor Nasir El-Rufai for his achievements in Kaduna State.

According to him, “El-Rufai has set high standard in Kaduna and any one who succeeds him must have the capacity to sustained and build on the

achievements.”

Sani said as someone, who had worked closely with the governor for over 20 years, he hadthe capacity to consolidate on the governor’s achievements.

“I stand before you today as a proud member of our great party, the All Progressives Congress and a long standing ally of the pace-setting, innovative and resourceful Governor of Kaduna State,

Mallam Nasir El-Rufai. Our dynamic governor has changed the face of Kaduna State and made it the envy of all,” he said.

According to him, El-Rufai’s “transformational leadership and developmental drive have redefined and raised the bar of governance,” noting that, the high standards set by the governor, “is both a source of pride and a challenge to we his associates and loyalists.

Obasanjo, Osinbajo, APC Govs to Attend AbdulRazaq’s Turbaning as Mutawali of Ilorin Friday Senator Uba Sani Declares for Kaduna Governorship Hammed Shittu in Ilorin Former President Olusegun Obasanjo, Vice President Yemi Osibajo (SAN), All Progressives Congress (APC) governors and members of the diplomatic community are some of the personalities expected at the turbaning ceremony of Dr. Alimi Abdulrazaq, elder brother of the Kwara State Governor,

AbdulRahman AbdulRazaq, this Friday.

Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari will turban Alimi, a scion of the Abdulrazaqs as the Mutawali of Ilorin.

The turbaning ceremony will take place at the palace square of the Emir of Ilorin at 10am and it will be followed

by Jumat service at the Ilorin central mosque.

Senator Uba Sani, representing Kaduna Central Senatorial District, has declared his intention to contest for the governorship of Kaduna State in 2023.

Sani made the declaration at the state secretariat of the ruling All Progressives Congress (APC) on Tuesday in Kaduna.

Sani is the only APC

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WEDNESDAY, ͹;˜ ͺ͸ͺͺ ˾ T H I S D AY

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

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Amokachi Mocks Black Stars over Uncertainty of Cape Coast Stadium W O R L D C U P P L AYO F F S

Olawale Ajimotokan inAbuja Super Eagles legend Daniel Amokachi has mocked the Black Stars of Ghana over confusion surrounding their home venue for the first leg of the World Cup 2022 Playoff fixture against Nigeria on March 25.

The derision over venue switch was in a video uploaded by the Special Assistant to President on Sports, which has since gone viral.

Former Everton striker, Amokachi, famed as ‘the Bull’ during the height of a successful career, mocked Ghana for being unsure of where they will be hosting Nigeria in the first leg of the double header, unlike the Eagles who will be playing the reverse fixture at the Moshood Abiola National Stadium, Abuja on March 29.

Amokachi taunted the Black Stars as a team still looking for a stadium, unlike the Super Eagles who will be smattering at the renovated Abiola Stadium that has a capacity for 60,000 spectators.

“We are at the Moshood Abiola Stadium and we are ready. Look at how beautiful the pitch is. Look at how the stadium is. We are ready.

"People are still looking for a venue. Some people are under confusion. You know who I am talking about” the former member of the national team to USA ‘94 and Atlanta ‘96 said.

The doubt about where the first leg will be played was accentuated by the request by Ghana Football Association (GFA) to the Confederation of African Football (CAF) that it was considering switching the match venue to the Baba Yara Stadium, Kumasi following pleas by Nigeria Football Federation (NFF) to CAF to move the match from Cape

Coast Stadium, due to its poor nature occasioned by celebrations that followed Ghana’s 65th Independence Day Anniversary on March 6.

Incidentally, CAF had also on Sunday inspected Kumasi at the request of GFA and the National Sports Authority (NSA) of Ghana.

However, Ghana could be forced to play its home match in either Morocco or Benin Republic if CAF accedes to Nigeria's request by rejecting GFA's application to switch the match to Kumasi.

This is given that FIFA requires that venues already proposed for World Cup qualifying matches must be selected 90 days in advance with no option for a belated switch.

However, the NSA had in a tweet assured fans that it was working hard with its partners to ensure the readiness of Cape Coast turf for the home match against Nigeria in less than 10 days away.

It said the Cape Coast Stadium was looking good after the Independence Day celebration.

Man Utd, Ajax Knocked out of Champions League Manchester United's Champions League campaign ended in the disappointment of defeat by Atletico Madrid at Old Trafford last night to leave them with only a Premier League top-four place to fight for this season.

Ralf Rangnick's side were not short on endeavour but lacked the guile to break down Atletico's trademark resilience as Renan Lodi's far-post header four minutes before half-time sent the Spanish champions into the last eight.

Okocha, Kanu, Others Storm Lagos for Tinubu Novelty Match Adedayo Akinwale in Abuja Former Super Eagles stars including Austin Jay Jay Okocha, Nwanko Kanu, Peter Rufai, Mutiu Adepoju, among others are billed to play a novelty football match to commemorate the 70th birthday of former Governor of Lagos State, Senator Bola Tinubu.

The Director General, Tinubu Support Group (TSG), Mr. Ibrahim Umar, disclosed this Tuesday while addressing a press conference in Abuja.

He added that the novelty match was organised by TSG in collaboration with Lagos state government to commemorate the birthday of the Presidential aspirant of the All Progressives Congress (APC) who would be 70 on 29th March, 2022.

Ibrahim said the novelty match would be organised simultaneously with prayers across the six geo-political zones across the country.

He stated: "There will also be a Novelty Football Match between Ex- Super Eagles International Players and the Asiwaju Team at Onikan Stadium Lagos on 20th March 2022.

"Among the Ex Super Eagles players set to play are Kanu Nwankwo, Austin Jay Jay Okocha, Peter Rufai, Tijani Babangida, Mutiu Adepoju, Garba Lawal,Julius Aghahowa, Victor Ikpeba, Uche Okechukwu,

While Ghanaian football authorities are in frantic search for a suitable turf to host the first leg of the 2022 World Cup playoff against Nigeria, the MKO National Stadium in Abuja in lush green waiting for the reverse fixture on March 29

Ifeanyi Udeze, Taribo West, Victor Agali, Ike Shorunmu, Victor Ezeji, Obafemi Abiodun, Dosu Joseph, Jonathan Akpoborie to list a few."

The DG said awards would be presented to Tinubu by the ex-Super Eagles and Kanu Heart Foundation.

Umar noted that the 13th Bola Tinubu Colloquium, an annual high-powered policy roundtable, is expected to add colour to the birthday celebration and attract prominent Nigerians in preparation for what political pundits described as a remarkable watershed.

Speaking, ex Super Eagles goalkeeper, Peter Rufai, said it would be a pleasure to celebrate someone that has been an icon of grassroots football development in Lagos State.

He said he wants to use the medium to say thank you for what Lagos has done for him.

According to Rufai, “I came to Lagos at 17 with a Christmas shoe. I came for a trial at Stationery Stores and I was picked. I was given a house and a car.”

Dodo Manyana as Rufai is fondly called joked that he would use his performance in the novelty match to cause confusion for Super Eagles coach, Austin Eguaveon, stressing that after his performance, the coach would think of inviting him to the national team again.

United dominated possession for large portions of the second half but, as they have done so often, Atletico built a wall of defensive resistance - and when they did threaten, goalkeeper Jan Oblak provided the final barrier.

He saved brilliantly from Raphael Varane's header in front of the Stretford End as United were left to fight for a place in next season's Champions League in the final weeks of the domestic season.

Elsewhere in Amsterdam, Darwin Nunez scored the winner as Benfica beat Ajax at home to reach the Champions League quarter-finals.

After an entertaining first leg ended 2-2 in Lisbon, the return was far tighter and the visitors had done little to threaten before Nunez struck.

The Uruguayan beat Ajax goalkeeper Andre Onana to head in a whipped free-kick with 13 minutes to go.

RESULTS Man Utd 0-1 Atletico Madrid (Agg 1-2) Ajax 0-1 Benfica (Agg 2-3)

TODAY @9pm Juventus v Lille v

Villarreal Chelsea

Atletico Madrid goalkeeper Jan Oblak (left), was outstanding and prevented Cristiano Ronaldo and his Manchester United from getting back into the game after conceding four minutes into PHOTO: Reuters the break

Okowa Leads Team Nigeria Contingent to Belgrade for World Indoor Championships Athletics Federation of Nigeria (AFN) President, Tonobok Okowa, will lead Team Nigeria’s contigent to this weekend's World Athletics Indoor Championships holding in Belgrade, Serbia.

The team is expected to depart the Murtala Mohammed international airport, Lagos tonight aboard Turkish Airline.

World and Olympic long jump medallist, Ese Brume, and the men's 4x400m quartet of Sikiru Adewale Adeyemi,

Samson Oghenewegba Samson, Timothy Emewoghene and Ifeanyi Emmanuel Ojeli will be in the flight to Belgrade via Istanbul, Turkey Wednesday night while Ruth Usoro, the Nigeria triple jump record holder will fly from the United States of America to join the team for the championships.

Former Nigeria 400m hurdles champion Victor Okorie who is the Performance Director of the AFN will also join the team

from the USA. Former seven-time national 100m champion and now coach, Endurance Ojokolo and veteran coach, Serghe Porbeni are the two accompanying coaches to the Championships.

Nigeria has won a total of 11 medals made up of two gold (Sunday Bada, 400m in 1997 and Olusoji Fasuba, 60m in 2008), six silver and three bronze medals.

Long jumper Paul Emordi won Nigeria’s first medal,

a silver in the history of the championships at the inaugural edition held at the Hoosier Dome in Indianapolis, USA in 1987.

The late Bada remains the only Nigerian to have won multiple medals in the history of the championships after winning silver medals in the 400m event in 1993 and 1995 before becoming the first Nigerian to be crowned World Indoor champion in 1997 in Paris, France.

Wednesday, March 16, 2022

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MISSILE Gov Wike to Gov Obaseki

“If you check the DNA of Godwin Obaseki, what you will see is serial betrayer and ungratefulness. You came to beg a bully for you to have a ticket. A bully was your campaign DG and a bully bullied you into Government House. What a shame. You came with your wife to thank the bully that after God, the bully made it possible for you to be there”--Rivers State Governor, Nyesom Wike, in verbal war with his Edo State counterpart, Godwin Obaseki.

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The Present in Light of Awo’s Ideas T

he 113th post-humous birthday of an exemplar of the politics of ideas, Obafemi Awolowo, came up a few days ago. And on April 11, it will be 30 years that a Foundation was launched to draw attention to the relevance of Awolowo’s ideas for development, nationbuilding and human progress. About 10 years ago, the Foundation inaugurated the Obafemi Awolowo Prize for Leadership with a Selection Committee headed by elder stateman Chief Emeka Anyaoku.

The diversity defining the participation in the activities of the Foundation has been manifest in the last three decades. The Board of Trustees is chaired by former Head of State General Yakubu Gowon. Ikemba Emeka OdumegwuOjukwu was also a member of the Board. It is remarkable that these two historical figures were the Heads of State on the opposite sides of the Nigeria-Biafra war. Years after the civil war both Gowon and Ojukwu worked together on the platform of a Foundation in memory of Awolowo.

According to the executive director of the Foundation, Ambassador Tokunbo Awolowo Dosumu, the vision of the institution was to “take up responsibility to encourage contemporary leaders and citizens to make the considerable body of ideas that Chief Awolowo left for posterity a constant reference point.”

Meanwhile, politics of ideas is more or less a vanishing thing in this land. In less than a year to the elections, politicians are not discussing the big issues in the economy, security sector and the social space laden with the scourge of poverty and inequality. The quarrels in the political parties are not about the alternative strategies to the failed privatisation of the electricity sector even in the face of a nationwide blackout. There is no debate about the philosophy of economic management; neither is there any fresh idea from politicians on how to tackle the crippling insecurity in all parts of the country.

The contrast between today’s politics and the political culture of which Awolowo was a powerful symbol is sharp with the prevalent cynicism.

For the Obafemi Awolowo Foundation, therefore, it is a season of celebration of ideas.

Late Obafemi Awolowo The kick- off was a lecture organised by the Foundation on March 6, the birthday of the sage who was simply hailed as Awo by his audience while on the hustings in his days.

The well-received lecture entitled “Values for Africa’s Development” was delivered

by Professor Adedapo Asaju, a former Vice Chancellor of Ajayi Crowther University and now the Bishop of the Ilesha Diocese of the Anglican Church. Effectively deploying the Awolowo example, Asaju made a survey of the moral and political landscape and came up with a catalogue of prescriptions that are worth pondering by policymakers. For instance he proposed as follows : “There is need for mass reorientation of the citizenry and re-educating the present and coming generations about patriotism, nationhood, nation- building, civics, etc. New curricula can be designed to provide this (purpose). We need a re-orientation of the entire citizenry about their political rights and fundamental human rights. History needs to be introduced into the curricula of all students at all levels. People

must know their history otherwise they will lose their identities with time.”

The topicality of the theme of the lecture becomes more conspicuous when viewed against the background of the crisis of values plaguing the land. The impact of the crisis at the subjective level may prove to be more enduring because the solutions to the moral, cultural, social and intellectual problems could only found in the finer realm. In other words, within a few years the objective damage done to collapsed roads and bridges as well as the derelict infrastructure for the education and healthcare sectors could be fixed by a leadership with a sense of historic mission. But it will take a longer time to tackle the problem of the disorientation caused a generation growing up in a society in which the line between right and wrong is getting blurred by the day because of the reckless display of lack of principle by public officers.

Gowon, who was the Special Guest of Honour, said that the essential Awolowo remains a “benchmark for governance in Nigeria” and that “Africa would need more of Awo’s ideas for development.” The former Head of State attested to the belief of Awolowo in the unity of Nigeria.

Former president of Ghana John Mahama, who was the chairman of the occasion, drew attention to the coincidence that March 6, the date of the remembrance Awolowo’s birth, is also the anniversary of the date of Ghana’s independence. As a social democrat, Awolowo had a political and ideological proximity to Ghana’s first president and pan-Africanist, Osagyefo Kwame Nkrumah. Mahama paid tributes to Awolowo for his leadership values and principles in politics.

The Sultan of Sokoto, Alhaji Sa’ad Abubakar called for the primacy of place for “African values’ in the process of development. He made refences to the values of ancient African empires such as those of Ghana, Mali and Songhai... He cited the examples of Asian countries which never treat their cultural values and heritage as inferior to western culture.

The Obi of Onitsha, Igwe Nnaemeka Achebe, identified values as the veritable instruments required in rebuilding community. He made

Poltical Parties Own All Votes

By Femi Falana

O

n Tuesday, March 8, 2022, The Federal High Court (coram Inyang Ekwo J.) sacked the Ebonyi State Governor, David Umahi, his deputy, Kelechi Igwe, along with 15 lawmakers in the State over their defection from the People’s Democratic Party (PDP) to the All Progressives Congress (APC). In sacking the governor and his deputy, the learned trial judge ruled that the votes polled by a political party could not be transferred to or utilised for the benefit of another political party or member of another political party. In acknowledging that the Constitution was silent on the implication of the defection of a governor or his deputy, the learned trial judge opined that “such a lacuna was not to be celebrated or even mischievously flaunted as failure of a remedy for situations of such nature.”

Before the decision was handed down last week, the High Court of Ebonyi State had dismissed the suit filed by the APC and its flag bearers, Senator

Soni Ogbuji, Justin Ogbodo in the 2919 governorship election who had prayed the Court to declare them the winners of the election since the PDP candidate had abandoned the mandate of the people by joining the APC. It was the view of the presiding Judge, Henry Njoku J. that his jurisdiction to entertain the matter had been ousted by section 308 of the Constitution which has conferred immunity on Governor Umahi and his deputy. In contradiction, Justice Ekwo held that immunity from civil and criminal proceedings conferred on the President, Vice-President, Governors, and Deputy Governors by section 308 of the Constitution did not apply to the case because “the cause of action and the remedy thereof cannot wait till the third and fourth defendants leave office.” Consequently, the Court ordered the Independent National Electoral Commission (INEC) to immediately declare the persons nominated to it by PDP as governor and deputy governor or alternatively conduct fresh gubernatorial election in the State in line with section 177(c) of the Constitution.

Not unexpectedly, the epochal verdict has generated mixed reactions from social commentators, political

analysts and legal practitioners and other interest groups. It is pertinent to note there is no dispute whatsoever in the removal of the 16 legislators who decamped from the PDP to APC because the issue has been judicially put to rest in many decided cases pursuant to section 68(1)(g) of the 1999 Constitution (as amended) which expressly prohibits cross carpeting by legislators and provides for circumstance(s) in which legitimate defection is permissible. In the case of Abegunde v. Ondo State House of Assembly (2014) LPELR 23683, the Supreme Court rejected the argument of the appellant, a member of the House of Representatives who decamped from Labour Party to Action Congress of Nigeria (ACN) on the basis of fractionalization of the party at the State level. The Supreme Court held that only a division that makes it impossible for a party to function can provide the basis for a legislator’s defection hence, the Appellant’s seat was declared vacant.

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references to the recovery of the people in the eastern part of Nigeria after the tragic civil war.

Remarkably, the Obi simultaneously lamented the “unfulfilled dreams of Africa” and also expressed the optimism that the “future is in Africa.”

Instructive interventions also came from Ekiti State Governor Kayode Fayemi, who spoke for all the 36 state governors as the chairman of their forum, Governor Aminu Tambuwal of Sokoto State and former Governor Olusegun Mimiko of Ondo State. According to Fayemi, “the job is not yet done” and although the present generation might not have lived up to the expectations of the Awolowo’s generation, “the job will be done.”. He also said Awolowo’s ideas “are a reference point.” Mimiko noted Awolowo’s contributions to the evolution of the federalist ideas while Tambuwal said “we are willing students of Awo’s school of governance.”

Now, Awolowo was distinguished as a political leader by the sheer force of his ideas and the unwavering commitment to principles. Most of the elements in the huge Awoist movement across generations often invoke Awolowo’s political spirit while making arguments for “true federalism.”

A book written by Awolowo in 1947, Path to Nigerian Freedom, is usually quoted in such discussions. Yes, it is true that while Awolowo was making the case for a federal Nigeria, the idea of federalism was not as fashionable as it is today. History has, of course, moved on since the period of the Awolowo generation of leaders.

Awolowo was not only a federalist, he was also a convinced social democrat in theory and practice. He wrote books on the social democratic path to development such as The People’s Republic and The Strategy and Tactics of the People’s Republic of Nigeria. However, not many Awoists demonstrate the vigour in pushing for the agenda of social democracy ideologically the same way they passionately make federalism their battle cry.

Yet the social democratic contents of the political parties led by Awolowo were quite visible in prioritised social investments in education, healthcare, rural development and job creation.

In his entire political career, Awolowo occupied the chief executive position only as the premier of the old western region in the 1950s. And he governed like a true social democrat with policy instruments to make great impacts on the lives of the people. The highpoint was the introduction of free primary education in 1955.

A Requiem for Principle in Politics?

Awolowo was also remarkably a principled politician. The Indian sage Mahatma Ghandi identifies “politics without principle” as one of the seven social sins. Not a few supporters and opponents alike would agree to the point that Awolowo was never guilty of this sin.

However, the same thing could not be said of many in the present generation of politicians. It is as if principle is dead in politics. Politicians join parties not because of the attraction of policies and ideology. They join parties as needed electoral vehicles in which to take a ride to power. The vehicles could be discarded as soon as they get into power because other vehicles may seem more attractive. Some politicians have made nonsense of the multi-party democracy with the way they migrate from one party to the another.

Today’s politicians could learn a lot of lessons from Awolowo’s legacy of the politics of ideas that is based on clearly defined principles

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