MONDAY 27TH MARCH 2023

UNN Honours Zenith Bank CEO, Ebenezer Onyeagwu with Doctoral Degree Dedicates award to the board, management of bank, especially Ovia, 'who has remained a mentor, leader, source of inspiration...'

Gideon Arinze in Enugu The Group Managing Director/Chief

Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, was on Saturday, March 25, 2023, conferred

with a Doctorate Degree in Business Administration by the University of Nigeria, Nsukka (UNN).

The award, which was in recognition of his immense achievements as Group Managing

Director/CEO of Zenith Bank as well as his contributions to the growth of the financial services

sector in Nigeria and across the Continued on page 5

CBN, ANAACOP Launch Agro eNaira Wallet, Targets Five Million Farmers in Northern Nigeria...

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Monday 27 March, 2023 Vol 28. No 10211. Price: N250

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Benue PDP Suspends National Chairman, Ayu, for Anti-party Activities...

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Nigerians Grieve as General Oladipo Diya Passes at 78 Buhari, Obasanjo, Jonathan, Tinubu, Atiku, governors, others pay tribute

Deji Elumoye, Chuks Okocha, Olawale Ajimotokan, Adedayo Akinwale, Udora Orizu in Abuja, James Sowole in Abeokuta and Segun James in Lagos Former Chief of General Staff (CGS),

Lt. General Oladipo Donaldson Oyeyinka Diya (rtd), who also served as Vice Chairman of the Provisional Ruling Council (PRC) in 1994, has died. He was aged 78 years.

Diya’s death was announced in a message that went viral on the social

media, signed by one of his children, Oyesinmilola Diya, on behalf of the family. The message stated that Diya died in the early hours of yesterday, Sunday, March. 26.

The message read, “On behalf of the entire Diya family home

and abroad, we announce the passing onto glory of our dear husband, father, grandfather, brother, Lt- General Donaldson Oladipo Oyeyinka Diya (Rtd) GCON, LLB, BL, PSC, FSS, mni.

“Our dear Daddy passed onto

glory in the early hours of 26th March 2023. Please, keep us in your prayers as we mourn his demise in this period.

“Further announcements will be made public in due course.

“Barrister Prince Oyesinmilola

Diya, on behalf of the family.”

There has been an outpouring of tributes from Nigerians, paying homage to Diya, who served as second-in-command to the late Continued on page 5

Deregulation: Brace for N750/Litre Petrol When Subsidy is Removed, Stakeholders Tell Nigerians Want govt to channel savings from subsidy to provision of palliatives for masses 25 Nigerian crude shipments struggle to find buyers in Europe as French strike continues More than half of Nigerian export impacted by latest development Try oil thieves for treason, ex-Naval policy chief urges FG Says govt not doing enough to curtail oil saboteurs Emmanuel Addeh, Kingsley Nwezeh in Abuja and Peter Uzoho in Lagos As the federal government prepares to completely deregulate the downstream sector of the Nigerian oil and gas industry in the coming months, stakeholders in the sector have told Nigerians to be ready to pay as much as N750 per litre of petrol at filling stations. This was the highpoint of stakeholders' interventions during an online workshop, with the theme, "Deregulation of the Nigerian Downstream Sector: The Day After."

The workshop was organised by industry stakeholders, in collaboration with the African Refiners and Distributors Association (ARDA).

The downstream players, in Continued on page 5

A WORTHY RECOGNITION...

L – R: Vice Chancellor, University of Nigeria, Nsukka, Prof. Charles Arinzechukwu Igwe; Minister of State for Education, Rt. Hon. Goodluck Nanah Opiah; Pro-Chancellor and Chairman of the Governing Council of University of Nigeria, Nsukka, Amb. Bako Sani; Group Managing Director/CEO, Zenith Bank Plc, Dr. Ebenezer Onyeagwu; and Mrs Kachi Onyeagwu during the conferment of the Doctorate Degree in Business Administration on Dr. Onyeagwu by the University of Nigeria, Nsukka at the weekend

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Atiku Urges DSS to Arrest Fani-Kayode for Inciting Comments Hails UK for naming Tinubu’s spokesman as key inciter Says Fani-Kayode was rejected as spokesman by Atiku campaign Chuks Okocha and Emmanuel Addeh in Abuja The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, yesterday praised British envoy, Ben Llewellyn-Jones for naming the Director, New Media of the Bola Tinubu Campaign Organisation, Femi Fani-Kayode, among those making inciting comments.

In a statement, the Special Assistant on Public Communication to Atiku , Mr. Phrank Shaibu, said the Department of State Services (DSS) ought to have invited Fani-Kayode as his rhetoric could set the country on fire.

Atiku maintained that FaniKayode’s claim that he would make Nigeria ungovernable if Tinubu is not inaugurated as president on May 29, 2023, was infuriating and deserving of the attention of the DSS. The former vice president noted that the UK Deputy High Commissioner, Ben Llewellyn-Jones, deserved special commendation for pointing out that Fani-Kayode had been making inciting comments and ought to have been cautioned by Tinubu, his boss.

“We acknowledge as timely the statement of the DSS' call on politicians not to overheat the polity. But we call on the security agency to arrest Fani-Kayode for not heeding the counsel of the DSS when he threatened to make Nigeria ungovernable.

“The DSS rightly invited FaniKayode after he made false claims about Atiku planning a coup back in January and asked him to report daily. But for some reason, he has continued unhinged to spew hate.

“Recently, he even justified the attacks and the profiling of the Igbo

in the recently concluded fraudulent governorship election in Lagos State.

He has also threatened to make the country ungovernable if Tinubu is not sworn in.

“I think it's a good time to remind the DSS that Femi Fani-Kayode has returned to his old ways. Now, he is threatening fire and brimstone over a most contentious election, which Nigerians have refused to endorse or celebrate one full month after the collective disenfranchisement of the electorate.

“Fani-Kayode is threatening that he and some other desperados will make Nigeria ungovernable if Tinubu is not inaugurated on May 29, 2023.

It is time to take in Fani-Kayode so he doesn't inflame any further, the already combustible national angst,” Atiku stated.

The presidential candidate alleged that the Nigeria Police Force had continued to give Fani-Kayode cover and had been used many times to intimidate people as stated by his staff.

He wondered why, despite an order of the Inspector General of Police that only those holding political offices should move with police escorts, Fani-Kayode had continued to move with heavy security like a governor.

“Although Nigeria is grossly underpoliced, over 40 per cent of its police is attached to VIPs and unauthorised persons. With between 350,000 and 370,000 personnel for a population of 200 million, it cannot meet the United Nations recommendation of 340:100,000 police-to-citizen ratio, rendering it grossly ineffective in fighting crime.

“Yet, Fani-Kayode, who has not held any political office since 2007 when he was aviation minister, moves with a siren-blaring convoy.

He should immediately be stripped of those security aides, uniformed or

otherwise. He only uses the security to sustain that delusion of self-importance.

He is posturing with state owned security personnel - that is not even enough for the rest of us.

“The likes of former Vice President Namadi Sambo, former Head of State, Yakubu Gowon, ex-Presidents Goodluck Jonathan and Olusegun Obasanjo do not

enjoy the number of security details FFK has around him and honestly, this is what fuels his feeling of self importance,” Atiku stated.

He noted that the All Progressives Congress (APC) had on March 2, 2015, said in a statement by Alhaji Lai Mohammed, that “Fani-Kayode may have unhinged, perhaps as a result of

1994. As Chief of the General Staff, he was the de facto Vice President of Nigeria during the Sani Abacha military junta from 1994 until he was arrested for treason in 1997.

In 1997, Diya and some dissident soldiers had allegedly planned to overthrow the regime ofAbacha. The alleged coup was uncovered by forces loyal to Abacha, and Diya and his cohorts were jailed.

Diya was tried in a military tribunal and was given the death penalty. But following the untimely death of Abacha in 1998, Diya was pardoned by the successor to Abacha, Abdusalami Abubakar.

Buhari: He Was Brilliant, Possessed Exceptional Skills

President Muhammadu Buhari mourned the demise of Diya and described him as a brilliant officer with exceptional skills.

Buhari, in a release yesterday by Femi Adesina, paid tribute to Diya’s bold and courageous career in the Nigerian military and dedicated service to the country as General Officer Commanding, 82 Division; Commandant, National War College (1991–1993); Chief of Defence Staff;

his volatile and erratic behaviour is legendary. This was a man who publicly threatened a journalist for asking an innocent question. The Nigeria Union of Journalists (NUJ) rightly blacklisted the cantankerous former minister,” he added.

Atiku called on Nigerians not to take Fani-Kayode seriously as his only guiding principle was his stomach.

DEREGULATION: BRACE FOR N750/LITRE PETROL WHEN SUBSIDY IS REMOVED, STAKEHOLDERS TELL NIGERIANS conjunction with economic policy analysts and relevant government agencies, also outlined strategies and measures that should be deployed to ensure sustainable removal of petrol subsidy.

It emerged, yesterday, also, that Nigeria was struggling to find buyers for its crude oil, as strikes in the French refining sector and seasonal maintenance at plants elsewhere in Europe cut into the Organisation of Petroleum Exporting Countries (OPEC) producer’s sales.

In another development, former Chief of Policy and Plans, Nigerian Navy, Rear Admiral Henry Babalola (rtd), called on the federal government to prosecute persons involved in oil theft for treason. Babalola expressed disappointment with the government’s poor handling of the oil theft issue.

He said government was not doing enough to eradicate the menace destroying the country's revenue base.

The federal government, through the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, recently hinted that it would end the wasteful petrol subsidy regime before the end of President Muhammadu Buhari's tenure on May 29, 2023.

But, in their separate interventions during the online workshop, stakeholders emphasised the need

for the government to address the challenges facing the sector.

Participants at the workshop included representatives of the ARDA, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), and Independent Petroleum Marketers Association of Nigeria (IPMAN).

Others were NNPC Retail Limited (NRL), Petroleum Retail Outlets Owners Association of Nigeria (PETROAN), Federal Competition and Consumer Protection Commission (FCCPC), PricewaterhouseCoopers (PwC), and CITAC Africa, among others.

Speaking at the session, National President of IPMAN, Mr. Chinedu Okoronkwo, who was represented

by IPMAN's National Operations Controller, Mr. Mike Osatuyi, revealed that the marketers were in full support of the government's plan to embark on full deregulation of the downstream sector.

Okoronkwo warned Nigerians to prepare to pay up to N750 for every litre of petrol after the full implementation of the subsidy removal. He however, pointed out that the projected pump price was

NIGERIANS GRIEVE AS GENERAL OLADIPO DIYA PASSES AT 78 dictator, General Sanni Abacha.

Born on April 3, 1944 at Odogbolu, Ogun State, Diya was educated at the Methodist Primary School, Lagos, and Odogbolu Grammar School.

He joined the Nigerian Defence Academy, Kaduna, and fought during the Nigerian Civil War. He later attended the US Army School of Infantry, the Command and Staff College, Jaji (1980–1981), and the National Institute for Policy and Strategic Studies, Kuru.

While serving in the military, Diya studied law at Ahmadu Bello University, Zaria, where he obtained an LLB degree, and then at the Nigerian Law School, where he was called to Bar as Solicitor and Advocate of the Supreme Court of Nigeria.

The deceased officer was Commander 31, Airborne Brigade, and was appointed Military Governor of Ogun State from January 1984 to August 1985. He became General Officer Commanding 82 Division, Nigerian Army, in 1985, and later, Commandant, National War College (1991–1993) and, subsequently, appointed Chief of Defence Staff.

He was appointed Chief of General Staff in 1993 and Vice Chairman of the Provisional Ruling Council in

a relapse into an unhealthy lifestyle of substance abuse.”

Atiku said this was probably the reason behind Fani-Kayode’s volatile behaviour and erratic temper, which was caught on video in 2020 when he gave a dressing down to a journalist who had asked him an innocent question.

“Fani-Kayode’s reputation for

and Military Governor of Ogun State from January 1984 to August 1985.

Buhari recalled that Diya was known for his brilliance, exceptional organisational skills and discipline, and that he displayed those virtues in the important roles he held in office as a military officer.

He praised Diya for his love, belief and loyalty to the country he cherished so much and fought gallantly on the frontlines to defend her unity.

On behalf of the federal government, the president extended heartfelt condolences to Diya’s family, friends and colleagues, and prayed that his soul finds rest with his Creator, saying may his contributions to the country never be forgotten.

Obasanjo: Diya’s Feats Will Be Remembered After Him

Former President, Chief Olusegun Obasanjo, described the life of the late Diya as a great success and one of accomplishments, which would long be remembered after him.

Obasanjo, in a release by his Special Assistant on Media, Kehinde Akinyemi, stated that with Diya’s passing, there was no doubt that the

ranks of the country's leadership had depleted "by the loss of a dedicated and resourceful patriot, who served the nation in various capacities as an army officer, community leader, and a legal practitioner.

"It is noteworthy that in the course of his military service, which straddled more than three decades, he acquitted himself as a dedicated officer and a real patriot. From the thick of the Nigerian Civil War to the post-war re-organisation of the army, he distinguished himself as a seasoned soldier.

"The rare diligence, loyalty and resourcefulness with which he carried out his duties and responsibilities, culminated in his appointment as Commander, 31 Airborne Brigade; Military Governor of Ogun State from January 1984 to August 1985; and General Officer Commanding 82 Division, Nigerian Army in 1985.”

That, Obasanjo said, was also responsible for his appointment as “Commandant, National War College, 1991–1993; Chief of Defence Staff in 1993 and soon after, Chief of General Staff also in 1993; Vice Chairman of the Provisional Ruling Council in 1994 and later functioned as Nigeria’s Continued on page 23

likely to drop to around N500 if the government encouraged the Central Bank of Nigeria (CBN) to provide foreign exchange for marketers at the official rate.

Okoronkwo also urged the government to channel expected savings from subsidy removal to provision of palliatives for the masses.

He advised the government to be alert and sensitive to resentment from Nigerians.

The industry stakeholders at the workshop called on the government to implement appropriate palliatives in the form of public transportation and freight of agricultural produce, ensure transparent and effective communication, and improve access to foreign exchange. They also urged the government to address issues around trade finance, guarantee strategic stock, and provide access to crude oil for refineries ahead of the plan to embark on the total removal of petrol subsidy.

They stressed the need for operators in the industry to institutionalise professionalism in the midstream and downstream petroleum sectors ahead of the take-off of full deregulation.

In his goodwill message, Chief Executive Officer, NMDPRA, Mr. Farouk Ahmed, told industry players that the authority would allow a free market-pricing regime to prevail in the petroleum marketing business in the country once the sector was fully deregulated.

National President of the Nigerian Association of Road Transport Owners (NARTO), Lawal Yusuf Othman, stated that the full deregulation of the downstream sector and complete removal of petrol subsidy would introduce a mix of opportunities and challenges into the operating environment.

In his presentation, Managing Director, CITAC Africa, Mr. Gary Still, explained that market liberalisation meant the removal of government subsidies and price controls on petroleum products and allowing market forces to determine the price and supply of petroleum products.

Still advised the Nigerian government to completely deregulate the downstream oil sector and free the market from the existing price fixing and control to allow investments to flow into the sector.

Fiscal Policy Partner and Africa Tax Leader at PwC, Mr. Taiwo Oyedele, charged the government and the regulators to identify potential pitfalls that could trigger resentment from citizens before, during, and after the removal of the petrol subsidy.

Oyedele said deliberate public sensitisation, industry engagement, and collaboration with civil society

organisations were needed to aid public buy-in during the implementation of full deregulation by the government. He added that in the course of implementation of the policies, the government's interpretation of its strategy must be issues-based and not confrontational.

Technical Consultant to the Executive Vice Chairman/Chief Executive Officer of FCCPC, Mrs. Morayo Adisa, in her presentation, emphasised the need for the industry regulator to establish quality and safety standards for petroleum products, including fuel quality standards, safety regulations for storage and transportation, and environmental regulations.

Chairman of MOMAN and Managing Director of Ardova Plc, Mr. Olumide Adeosun, stressed that the virtual workshop was aimed at addressing key challenges and outlining strategies to ensure a sustainable future for the petroleum downstream sector. Adeosun added that safeguarding consumer interest in a deregulated environment was also underscored.

The workshop offered the industry regulator and all players across the midstream and downstream value chain the opportunity to deliberate on measures that needed to be put in place ahead of the full implementation of the Petroleum Industry Act (PIA) 2021.

The workshop provided datadriven insights into the sector's growth potential, as stakeholders emphasised the need for continuous industry engagement, collaboration, and public sensitisation to aid public buy-in on new policies by the government.

It emphasised the importance of connecting to regional markets, positioning Nigeria as the regional refining hub, and fostering relationships with international service providers, including rating agencies, finance and governance institutions, and aligning with the goals of the Conference of the Parties to the United Nations Convention on Climate Change (COP).

Ultimately, the collaborative workshop provided a platform for stakeholders to share knowledge and develop strategies to ensure the Nigerian Petroleum Downstream Industry remained a strong, competitive force, while transitioning to a more sustainable future.

is a member of the International Monetary Conference (IMC), the Wall Street Journal CEO Council, member of the African Trade Gateway Advisory Council of the Africa Export-Import Bank (Afreximbank), and member of the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN). He also served on the board of Zenith Bank Ghana Limited, Zenith General Insurance, Zenith Securities Limited, Zenith Assets Management Company, Zenith Medicare Limited, and Africa Finance Corporation (AFC).

Onyeagwu’s track record of excellence has also seen him win several individual awards, including being named Bank CEO of the Year (2019) by Champion Newspaper, Bank CEO of the Year

(2020, 2021 & 2022) by BusinessDay Newspaper, CEO of the Year (2020 and 2021) – SERAS Awards, and CEO of the Year (2022) – Leadership Newspaper.

Other recipients of Doctorate Degrees at the 50th convocation ceremony included former Governor of Delta State, Dr. Emmanuel Uduaghan, who was conferred with the Doctor of Public Administration, and the Chairman of Hobark International Limited, Dr. Obiora Fubara, who received the Doctor of Business Administrat ion. A retired Justice of the Supreme Court of Nigeria, Justice Mary Odili, was conferred with the Doctor of Law; however, her conferment was deferred to a later date because she was unavoidably absent at the ceremony.

25 Nigerian Crude Shipments Struggle to Find Buyers in Europe as French Strike Continues

Nigeria is struggling to find Continued on page 41

UNN HONOURS ZENITH BANK CEO, EBENEZER ONYEAGWU WITH DOCTORAL DEGREE African continent, was conferred on him during the 50th convocation ceremony of the University.

Speaking during the conferment ceremony, the Vice Chancellor of the University of Nigeria, Prof. Charles Igwe, congratulated Onyeagwu for distinguishing himself in his career and for his service to humanity, which made him worthy to receive the prestigious Doctorate Degree from Nigeria's first indigenous University.

In his acceptance speech, Onyeagwu expressed his gratitude to the University of Nigeria for finding him a worthy recipient of the Doctorate Degree in Business Administration of one of the leading universities in Nigeria, considering the very rigorous process of selection of awardees by the institution.

In his words, “for me to have been considered and to have passed through the meticulous selection process makes it the more dignifying because I have no connection with the university.”

Noting that the award represented a validation of the outstanding corporate governance, ethical leadership, and overall outstanding performance that Zenith Bank was recording, Onyeagwu dedicated the award to the board and management of Zenith, especially the Founder and Chairman, Dr. Jim Ovia, CFR, “who has remained a mentor, a leader and a source of inspiration to everyone at the bank and beyond; the staff, for being the shoulder and proverbial base of the pyramid upon which his achievements and success as CEO of the leading financial institution in

Nigeria rests; the bank's customers for their unflinching loyalty to the brand; and to his family for their unceasing love and support.”

Presenting the citation of Onyeagwu to the assemblage at the 50th Convocation Ceremony for the conferment of the Doctorate Degree in Business Administration, the orator of the University of Nigeria, Dr. Ikenna Onwuegbuna noted that the Zenith Bank CEO, “is an alumnus of Auchi Polytechnic, the University of Oxford, England and Salford Business School, University of Salford, Manchester, United Kingdom, Delta State University, Abraka.”

“Also, he is an alumnus of Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia

University, and the Harvard Business School of Harvard University in the United States,” he added.

Onyeagwu is a Fellow (FCA) of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Nigerian Institute of Management (NIM), The Chartered Institute of Bankers of Nigeria (CIBN), the Institute of Credit Administrators (ICA) and Senior Associate Member, Risk Management Institute of Nigeria (RIMAN).

Onyeagwu is the Chairman of the Body of Banks' Chief Executive Officers, Nigeria and Chairman of Zenith Pensions Custodian Limited and Zenith Nominees Limited. He is also on the Board of Zenith Bank (UK) Limited, FMDQ Holdings Plc and Lagos State Security Trust Fund (LSSTF). Ebenezer Onyeagwu

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

DINNER FOR THE ENVOYS BY THE AMBASSADOR OF AUSTRIA TO NIGERIA… L-R: Departing UK High Commissioner to Nigeria, H.E. Catriona Laing, former Deputy Governor of the Central Bank of Nigeria, Prof. Kingsley Moghalu, and departing United States Ambassador to Nigeria, H.E. Mary Beth Leonard, at a dinner for the two envoys by the Ambassador of Austria to Nigeria, H.E. Thomas Schlesinger, in Abuja... recently.

CBN, ANAACOP Launch Agro eNaira Wallet, Targets Five Million Farmers in Northern Nigeria Says digital solution will address cash scarcity challenge Fidelis David in Akure and Daji Sani in Yola The Association of Northern Agricultural and Allied Commodities Practitioners (ANAACOP) in collaboration with Central Bank Of Nigeria (CBN) have unveiled the, "Agro eNaira Wallet Engagement.”

The initiative is targeting to enroll five million farmers across northern states in the 2023 to 2024 dry and wet farming seasons.

At the Launching of the Agro E-naira Wallet, in Yola, Adamawa State, over the weekend, the National President of ANAACOP, Alhaji Sadiq Umar Daware, said the initiative targets one million farmers across the northern states for the first year of the 2023 dry and wet season and four million farmers for the 2024 seasons.

According to Daware, under the intervention farmers would create eNaira wallet accounts with a sub-wallet account specifically for the programmable intervention and submit their information to enable them access soft loans.

He said 50 farmers were drawn from Ribadu cluster in Adamawa to test the programme for onward progression across the northern states.

Daware further explained that the programme had identified agro dealers, processors and the CBN to find easy way of disbursement of funds to farmers.

He added that the scheme would provide small holders farmers the platform to get loans with no hitches leveraging on their eNaira wallet, assuring that it would removed glitches hitherto experienced by farmers.

The Chief Launcher and CBN Governor, Godwin Emefiele lauded the ANAACOP for the initiative, describing it as the first of its kind geared to assisting local farmers with farm implements

through their eNaira wallet.

Emefiele represented by Hajiya Rakiya Mohammed, Director Information and Communication Technology (ICT) of the CBN observed that the noble idea of the digital currency of the apex bank was the first in Africa and second in the world.

In his vote of thanks on behalf of the beneficiaries, Malam Mijinyawa Mahmud, called for more assistance to farmers so as to attain sustainable food security and make the country net exporter of raw materials.

Meanwhile, amid the cash shortages in the country, the CBN has reiterated that the usage of eNaira wallet would address the scarcity of cash in the country.

Speaking at the weekend, at the Palace of the Deji of Akure and Oja Oba Market in Akure, while sensitising traders and people of the state on the need to embrace the cashless platform for transactions, the Acting Branch Manager of CBN in the state, Mr. Samuel Giwa, said the policy was an initiative spearheaded by the CBN which aimed to reduce the physical cash in transactions and promote the adoption of digital payments.

Giwa added that the policy, which was introduced in 2021, would increase financial inclusion, reduce corruption and money laundering, and improve the efficiency of the financial system.

His words: "The eNaira is not just a currency, but an important step towards building a more robust and secure financial ecosystem.

“It was designed to make transactions easier, efficient, and more secure. The eNaira has indeed become a critical part of the Nigerian financial ecosystem, and an alternate channel. It will not only support the Ondo State economy, but Nigeria as

a whole; a symbol of progress and innovation and will pave the way for a more secure and efficient financial system,” he stated.

The acting branch manager said that as a people-focused central bank, the regulatory bank understood the current challenges associated with the implementation of the currency

redesign policy, the CBN was currently making efforts to address them.

“However, to provide succour, we urge the people of Akure and Ondo State generally to download the eNaira Speed Wallet for easy payment for goods and services, as well as have convenient access to banking services,” he said.

While sensitising traders at

Oja Oba Market in Akure, the Special Assistant on Payment to the Governor of the CBN, Mrs. Mary Fasheitan, said the CBN in collaboration with the Bankers Committee organised the sensitisation for people to understand all the benefits that eNaira brought to the banking system.

Also, a Nollywood actor,

Gabriel Afolayan, while speaking at the event said the platform would add value to Nigerian currency beyond the physical one, describing the platform as brighter initiative that would enable Nigerian residents to move around without being scared.

He asked Nigerians to embrace it and use it, saying it was a next level to seamless transactions.

Edo Gets Tentative Approval for Airport in Edo North Obaseki reassures on the project’s realisation Inaugurates board for Primary Healthcare Development Agency Adibe Emenyonu in Benin City Edo State Governor, Mr. Godwin Obaseki, has said his government was committed to the development of a new airport in Auchi, Edo North Senatorial District of the State.

In a statement at the weekend, Obaseki said the federal government had given the state tentative approval for the Auchi Airport, noting that the government was working with aviation experts to finalise the survey of the airport project.

According to him, “The charting of the airport is already ongoing to ensure the safety measures required for an approval of the airport project as safety is the main consideration.

We want to make sure that the approaches for landing into the airport runway are clear and safe for landing and will not endanger the aircraft.”

“These are the final reports and studies that are being conducted and as soon as we get final approval, we will break ground and commence construction of the Auchi Airport.”

On the need for the new airport in Edo North, Obaseki said, “This is not a political project. Between Benin City and Abuja on this axis,

which is more than 600 km, there is no airport.

“From the transportation standpoint, it makes a lot of commercial sense to have an airport in Edo North. More importantly, there are emerging businesses, particularly in the areas of mining and academia.

“There are two cement companies producing over six million tonnes of cement in this axis. There are a lot of activities to support an airport in this area.”

Meanwhile, Obaseki at the weekend, inaugurated the governing board for the state’s Primary Healthcare Development Agency.

Speaking at the inauguration of the board at the Government House, in Benin City, Obaseki said the board would help bolster government's efforts at repositioning the healthcare system and promoting access to quality healthcare services by the people.

He said, “This is a significant development in the repositioning of our healthcare system. We have always emphasised that our healthcare superstructure rests on the primary healthcare system because that is the point in which the bulk of our citizens can engage

with the health system.

“The board has been restructured, the law has been reviewed, and what we have now is adequate for us to start and get to the level we want to.”

The governor who noted that his administration was committed to establishing at least one primary healthcare center in every ward in the state to ensure every citizen has access to quality healthcare services, also noted, “You will help us rapidly expand primary healthcare using the resources available, collaborate with EdoHIS; encourage collaboration with other sectors at all levels in the development and support of primary healthcare systems to avoid waste of resources and duplication of efforts; supervise and oversee the running of primary healthcare facilities in the state; promote and monitor the implementation of our health plans at various levels of the primary healthcare system and ensure effective implementation and supervision of all primary healthcare activities as well as monitor the maintenance of the minimum acceptable standard in our primary healthcare.”

He added, “We need to change the health seeking behavior of

our people and ensure that there is effective community involvement and participation in healthcare activities from inception to execution.

Go into the communities and make the people know what we have been doing in the healthcare system.

“Develop effective programmes for training and retraining of primary healthcare providers in the state. Strengthen referrals and linkages in other branches of the healthcare sector especially in the areas of maternal and child health, reproductive healthcare and other ailments with the view of significantly reducing morbidity and mortality.

“I will expect periodic reports from you based on the data that you pick from the field. We expect that there will be a sound database for effective planning, implementation and supervision of primary healthcare activities in the state which will be done again based on the data which you are collecting daily from the field.”

The chairman of the board, Dr. Felix Ogedegbe, while responding on behalf of the board, applauded the governor's drive to take quality healthcare services closer to the people.

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NEWS

BORIS JOHNSON IN NIGERIA… Former United Kingdom Prime Minister, Rt Hon Boris Johnson, Raymond Anyiam-Osigwe, Kennedy Anyiam-Osigwe, George Anyiam-Osigwe and Charles Anyiam-Osigwe all Trustees of Osigwe Anyiam-Osigwe Foundation welcoming the Former Prime Minister to Lagos for the Foundation's annual lecture...yesterday night

Adeleke Creates Support Desk for Osun Tech Innovators, Entrepreneurs to Access $618m AfDB Fund Yinka Kolawole in Osogbo Governor of Osun State, Senator Ademola Adeleke has directed the immediate establishment of a support desk for Osun tech innovators and entrepreneurs to access the recently launched $618 million tech fund by the African

Development Bank (AfDB).

In response to the tech fund which was a collaboration between the AfDB and the Federal Government of Nigeria, Adeleke expressed readiness of his government to tap into the opportunities in furtherance of the digital economy agenda of

his administration.

Adeleke who was full of praises for the AfDB president, Dr. Akinwumi Adesina, said his administration has created enabling environment for Osun tech ecosystem, citing the recently unfolded state ICT Policy, State Tech Innovation Policy,

domestication of Nigeria's Startup Act, the flag off of the state's broadband fiber optic project and the establishment of a Digital Advisory Board, adding " My state is in a hurry to be a tech hub for South West.

"I am delighted to appreciate the AfDB which has set up a

ILO Commends Nigeria for Ratifying Conventions Onyebuchi Ezigbo in Abuja The International Labour Organisation(ILO) has eulogised Nigeria for its steadfastness in ratifying its instruments and conventions.

It also applauded Nigeria's commitment to tripartism, social dialogue and decent work.

The Director General of the ILO, Gilbert Houngbo, gave the commendation at the weekend, in Geneva, Switzerland, while receiving the Minister of Labour and Employment, Senator Chris Ngige, two instruments comprising conventions 1975 (143) on Migrant Workers (Supplementary Provisions) Convention and Convention 1997 (181) on Private Employment Agencies, which Nigeria had ratified.

A statement by the Director of Press and Public Relations Federal Ministry of Labour and Employment, Olajide Oshundun stated that the ILO applauded Ngige.

“I have to note particularly, the renewed passion and commitment which the Nigerian government has given to tripartism, social dialogue and decent work in the past few years, making it possible to ratify four conventions in a year .

“I recall that Nigeria’s Minister was here in November 2022, to deposit two ratified instruments – Conventions 2006 C (187) on Promotional framework for occupational safety and Health, and 2019 C (190) on Violence and Harassment and in less than five months, the nation has ratified and deposited two additional conventions. That is quite commendable,” Houngbo said.

The Director General who noted the contributions of the Nigeria’s Minister of Labour to the Governing Body and the Congress since 2016, described Ngige who is attending his last Governing Body meeting, as “knowledgeable and industrious.”

“He has been a great voice in the Governing Body and we will appreciate if he keeps in touch with the ILO even after his present tenure as Nigeria’s Minister.”

Earlier, the Minister while depositing the ratified Conventions - C143 and C181 - said they are critical in widening employment net and decent job in the world of work, and noted that they would reinforce Nigeria’s capacity and enhance cooperation with other countries in protecting migrant workers through ethical recruitment.

“These conventions will enhance remittance flow and optimize the benefits of organised labour migration in our country. It will go further to reinforce our ability to enter into Bilateral Labour Agreement (BLA) or Memorandum of Understanding (MOUs) with destination countries who have ratified the same Convention,” Ngige said.

The Minister added that the ratification of the Conventions were painstakingly put together, passing through the deliberative crucible of stakeholder dialogue as well as workshop to properly align them with relevant national laws and policies including the Labour Act CAP LI, National Policy on Labour Migration, National Employment Policy as well as National Migration Policy.

“In due diligence and legislative scrutiny, we ensured that these two ratified conventions are in tune with the International Labour Migration Division and National Electronic Labour Exchange (ILMD/ NELEX) to manage organised labour migration in and out of the country.

“They are also in line with our objectives in establishing Job Centres and Migrant Resource Centres (MRCs) to promote employment services and safe migration in Nigeria.

“In November 2022, when I deposited two conventions ratified by Nigeria, I did not hint

the Director General that we had about four others still in the mills.

I kept it close to chest that we will soon bring them after ratification.

Today, we have two of these ratified instruments, signed by the President of the Federal Republic of Nigeria, President Muhammadu Buhari,” the Minister added.

Also at the event, the ILO

Regional Director for Africa, Nigeria’s Cynthia SamuelOlonjuwon, praised Buhari for hosting the Global Youth Employment Forum in Abuja in 2019, and requested the next government to take such continental project notches higher in view of the bulge in youth population and unemployment.

$618 million fund to support the technology and creative sector in Nigeria.

“This is a great initiative spearheaded by Dr. Akinwunmi Adesina, the Nigerian President of the African Development Bank in partnership with our federal government and I would like to commend him for his visionary leadership and dedication to the development of our country.

"Dr. Adesina has consistently demonstrated his commitment to supporting the growth and development of African economies, and his efforts towards the development of the technology and creative sector in Nigeria are commendable.

“I am confident that this fund will go a long way in supporting innovation, job creation, and economic growth in our country.

"As the Governor of Osun State, I am pleased to announce that the Ministry of Innovation, Science, and Technology has been instructed to set up a desk to assist all technology and creative sector entrepreneurs in Osun State to apply and access this fund. The desk will provide comprehensive guidance and support to all interested applicants, ensuring that the application process is seamless and efficient.

"We are also exploring partnerships with the African Development Bank to support programs in the technology and creative sector in our state. We will be reaching out to the bank soon to discuss how we can collaborate and leverage this fund and other opportunities to create a vibrant and innovative ecosystem in Osun State.”

Power Sector Decentralisation: Eko Disco Ready to Partner Lagos Govt to Ramp Up Supply Wants incoming administration to build on predecessor's efforts Peter Uzoho Eko Electricity Distribution Company (EKEDC) has declared its readiness to go into partnership with the Lagos State Government to jointly take advantage of the power sector decentralisation and ramp up power supply to Lagosians.

Managing Director/Chief Executive Officer of Eko Disco, Dr. Tinuade Sanda, said this during an exclusive interview with THISDAY. Sanda also advised the incoming administration to give priority attention to the challenges plaguing the nation's power sector and build on the efforts of the outgoing administration.

President Muhammadu Buhari had last week signed into law the power sector decentralisation bill, which allows state governments to generate, transmit and distribute electricity in areas that are currently under the existing Discos' networks.

Sanda, who said the signing into law of the power sector decentralisation bill was in the right direction, however, noted that the development might have huge impacts on the monopoly that had been an incentive for investors.

She maintained that the

decentralisation would also help to bring effectiveness, efficiency and a bit of competition to the power sector.

She gave a, "note of caution that the state governments should also work and collaborate with the investors that have invested in the power because one, we don't want it to be seen that terms and conditions of the privatisation are not being adhered to, and because we don't want a situation where foreign investors could be wary of arbitrary government policy changes "But I personally feel that power sector needs a lot of capital expenditure, it's a long term investment. This new law will attract necessary investment into the power sector that is required to up and address the rehabilitation that needs to be done, the networks and all that.

“And it also brings a lot of strategic partnerships, business alliances and some equity investments and improved liquidity to the sector."

According to Sanda, "For us in Eko Disco, it's something we look forward to in working with Lagos State government and seeing how we can also improve the experience

of our consumers in our network areas and ensure that we are able to provide power to them.

"Affordability also matters and also in a safe manner. So anywhere where we need to collaborate with Lagos State government, Eko Disco is willing and we are ready to work with the government on that."

On her expectations from the incoming administration, Sanda said she would expect the government to pay priority attention to the challenges plaguing the nation's power sector and build on the efforts of the outgoing administration.

Describing power supply as the bedrock of any economy as humans need power to survive, the Eko Disco boss added that Nigeria needs power for the manufacturers to produce at lower cost.

"We all need power in our dayto-day lives, in our businesses. And I believe that when there is power availability in terms of addressing the gas issues, addressing the issues that have been affecting the sector in terms of liquidity and in terms of having a cost-effective tariff; looking at consumers being metered appropriately and ensuring that the grid instability that we had,

the aged networks that need to be rehabilitated are focused on.

"This will help the citizens of Nigeria. So I think in my opinion that power should be on the front burner of the incoming administration", she stated.

Highlighting the investments made in the last one year by Eko Disco, Sanda disclosed that the company has invested about N14 billion to address some capital projects, rehabilitate its network, meter customers and to improve consumers' experience.

She explained that the company's focus was to push more power to its teeming consumers notwithstanding the situation with the national grid, adding that they also looked into collaborative relationships in order to get more power from Independent Power Plants (IPPs).

"There are a couple of IPPs we've signed and we are working within Eko network area. There are also some other Gencos that, on our own, we have gone ahead to have a bilateral relationship with, just because we just want to serve our consumers and be able to provide power to them," she added.

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NEWS

HANDING OVER CEREMONY FOR LUTH'S OUTGOING CMD… L-R: Chairman, Medical Advisory Committee, Lagos University Teaching Hospital (LUTH), Prof. Wasiu Adeyemo; Consultant Urologist, Dr. Jibola Jeje; outgoing Chief Medical Director, Prof.

Chris Bode and Orthopaedic Surgeon, National Hospital, Abuja, Dr. Christian Madubueze during the handing over ceremony for the outgoing CMD, Prof Bode in Lagos...weekend

Access Bank Completes Acquisition of Zambian African Banking Corporation

Access Holdings Plc has announced that it has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of Access Bank Zambia Limited, and African Banking Corporation Zambia Limited into its existing operations.

Access Bank Zambia Limited a subsidiary of Access Bank Plc. The bank disclosed this in a statement at the weekend, signed by its Company Secretary, Sunday Ekwochi.

It stated: “Further to its announcement on October 25, 2021, Access Holdings Plc (Access Holdings) is pleased to announce that Access

Bank Zambia Limited (Access Zambia), a subsidiary of its flagship subsidiary, Access Bank Plc, has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of African Banking Corporation Zambia Limited (Atlas Mara Zambia) into its existing operations.

“The Central Bank of Nigeria and Common Market for Eastern and Southern Africa Competition Commission had earlier granted their “no objection” to the Transaction in 2022. Access Zambia will now move towards integrating and merging Atlas Mara Zambia into its operations, which is expected

SERAP Urges INEC to Investigate Allegations of Electoral Violence against Governors Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged Chairman of the Independent National Electoral Commission (INEC) Prof.

Mahmood Yakubu to seek the appointment of an independent counsel to investigate allegations of electoral violence and other electoral offences including bribery against any state governors and their deputies during the just concluded general elections.

SERAP also urged him to investigate reports of electoral violence and other electoral offences committed during the general elections, and to identify suspected perpetrators and their sponsors, and ensure their effective prosecution, regardless of their political status or affiliations.

In a letter dated March 25, 2023, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said by allegedly engaging in electoral violence in so blatant fashion, suspected perpetrators and their sponsors have clearly acted in violation of constitutional provisions, international standards and the Electoral Act. The letter read in part: “INEC should promptly collaborate with the Independent Corrupt

Practices and Other Related Offences Commission (ICPC) and other law enforcement agencies to identify any politicians and their sponsors suspected to be responsible for electoral violence and other electoral offences during the elections.

“In several states, political thugs, apparently with the support of law enforcement officials, disrupted and sent back voters intending to vote for opposition parties.

“Party agents were reported to be directing people who to vote for while those unwilling to do as directed were denied ballot papers and forced to leave the polling units.

"Identifying, arresting, investigating and prosecuting those suspected of perpetrating electoral violence and other electoral offences during the 2023 general elections would act as a deterrent against electoral violence in future elections.

“We would be grateful if immediate steps are taken to implement the recommended measures within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel INEC to comply with our request in the public interest.”

to create one of the top five banks in Zambia.”

Commenting on the transaction, Group Chief Executive Access Holdings, Dr. Herbert Wigwe, said: “The transaction builds on

our earlier acquisition and merger of Cavmont Bank Plc into Access Bank Zambia and underscores our resolve to strengthen our presence in Zambia, a key African market that fits into our strategic focus

on geographic earnings growth and diversification.

“The combination of the two banks will create significant synergies between Access Zambia’s world class wholesale and transaction banking

capabilities and Atlas Mara Zambia’s market leading retail and public sector capabilities to form a market leading universal banking platform that will greatly impact the Zambia market.”

Air Peace Records Another Milestone, Begins First Direct Flight from Nigeria to Israel Chinedu Eze Air Peace has once more made history as it begins the first direct flight from Nigeria to the State of Israel on April 20, 2023.

Industry stakeholders described it as great feat for the airline and a huge relief to Nigerians and Israelis who have to travel for 27 hours from Nigeria to Israel via other nations.

But a direct flight between the two countries would take just five hours.

Israeli government confirmed that Air Peace’s inaugural flight to Ben Gurion International Airport, Tel-Aviv, Israel would commence next month.

Israeli Minister of Transportation and Road Safety, Brigadier General Miri Regev who disclosed this in Israel, noted that this would be a historical feat, as there had never been a direct flight between the Middle East nation and Nigeria.

“Nigeria's flag carrier Air Peace will begin operating

direct flights to Israel for the first time, starting on April 20, the Minister of Transportation and Road Safety announced today (Sunday).

“Minister Regev today approved the aviation agreement signed between Israel and Nigeria, and submitted it for government approval.

“The signed agreement will for the first time allow the airlines of each of the countries to operate regular flights at Ben Gurion Airport to several destinations in Nigeria, such as Abuja and Lagos. In the first phase, the Nigerian company (airline) will operate two weekly flights between Israel and Nigeria.

“So far, no direct flights have been operated between the two countries and the thousands of pilgrims who come to Israel every year from Nigeria have flown through Turkey or Ethiopia. The agreement will allow Israeli and Nigerian airlines to make direct flights between the countries and increase the number of pilgrims

who come to Israel every year,” disclosed Israeli embassy source.

Regev said Israel had started opening new routes to connect the world and identified Nigeria as one of the leading countries in Africa that maintained close ties with Israel.

"Recently we have witnessed a wave of new routes being opened to destinations all over the world, and I am happy to announce the launch of direct flights to Nigeria as well.

“Nigeria is one of the leading countries in Africa, and it maintains close ties with Israel in a wide variety of fields, along with traffic of pilgrims who come to Israel to visit the holy places of Christianity.

“I welcome the opening of the new line and am sure that it will contribute to strengthening the business and cultural ties between the nations and between the governments," she said.

When contacted, the elated Chairman and CEO of Air Peace, Allen Onyema said the airline was prepared for the inaugural

and subsequent flights to the Holy Land, disclosing that it would begin with two flights a week and increase frequency with time.

Onyema commended the governments of Nigeria and Israel, saying they made it possible, breaking old barriers to make direct flight between the two countries a reality, adding that it is an indication of the strong relationship between the two countries.

He also disclosed that the airline had completed plans to begin three times a week flight service to Jeddah and Medina in order to make it easy for Nigerians who wish to travel for pilgrimage, adding that it is in fulfillment of the promise the airline made to Nigerians of connecting them to domestic destinations and to the world.

He expressed confidence that the airline would secure approval from Saudi authorities for the flight service and in next few days would announce the date for the schedule flight operation.

Soludo, EEDC Seal Deal to Enhance Power Supply in Anambra David-Chyddy Eleke in Awka

The Anambra State governor, Prof Chukwuma Soludo has signed a memorandum of understanding (MoU) with the Enugu Electricity Distribution Company (EEDC).

The deal was aimed at achieving uninterrupted power supply in the state.

The move was part of Soludo administration's promise to achieve steady power, that would make Anambra a liveable and prosperous homeland, which the governor promised.

The MoU which was signed at the Executive Chambers of the

Anambra Government House, Awka, saw Soludo signing Anambra State government, while the chairman of EEDC, Sir Emeka Offor, who is also an Anambra son, signed on behalf of the company.

Soludo in his remarks said he was elated at the partnership, and that the importance of steady power in building any economic hub cannot be overemphasised. He called on Anambra sons and daughters to bring home part of their investment, as a way of developing the state.

He said: "Long before I was sworn in as governor, I

recognised the importance of power and deeply considered how it could be achieved in the shortest period of time, in at least three to four major cities in the state.

"What we did today was to consummate that marriage. The courtship began over a year ago, and I'm overjoyed that the marriage has finally been consummated today.

"Anambra is a state of which more than 60 per cent of its non-land assets are domiciled outside of the state. If at least 25 per cent of the proceeds are returned to Anambra, the state can become what we envision

it to be."

Offor in his remarks expressed happiness that such a historic event was taking place during his time, saying he would contribute his own quota towards steady power supply in Anambra.

He praised Soludo's zeal and support for him and his team, but emphasised that more support was still needed, particularly from the legislative arm, to adjust and accommodate laws that would empower EEDC and Anambra State Government function effectively towards the journey of providing constant power supply to the people.

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INAUGURATION OF GOVERNING BOARD FOR EDO STATE PRIMARY HEALTHCARE...

L-R: Secretary, Edo State Primary Healthcare Development Agency Governing Board, Dr. Omosigho Izedonmwen; Chairman of the Government Board, Dr. Felix Ogedegbe; Edo State Governor, Mr. Godwin Obaseki and Edo State Commissioner for Health, Prof. Akoria Obehi, at the inauguration of the governing board for the Edo State Primary Healthcare Development Agency at the Government House in Benin City... yesterday

APC Screens Onoja, Adeyemi, Faleke, 15 Others for Kogi Guber Primary Ibrahim Oyewale in Lokoja Kogi State Deputy Governor, David Edward Onoja, the Senator representing Kogi West Senatorial District, Senator Smart Adeyemi, and a House of Representatives member, James Abiodun Faleke, were among the 18 governorship aspirants, who attended the All Progressives Congress (APC) governorship screening exercise for clearance to contest the party’s primary election in the state.

The screening exercise was

held in Abuja ahead of the Kogi APC governorship primary, preceding the gubernatorial election slated for November 2023.

In press statement by his Special Adviser on Media, Kayode Otitoju, Adeyemi who is the leading aspirant was screened by the APC governorship screening committee at the National Secretariat in Abuja on Saturday.

Other aspirants that attended the APC governorship screening exercise included

Oyebanji: I’m Not Owing Any Contractor in Ekiti Gbenga Sodeinde in Ado Ekiti Ekiti State Governor, Mr Biodun Oyebanji, has said his administration was not owing any of the contractors handling various projects in the State, and as such, they had no excuses not to deliver on time and to specification.

Oyebanji, who stated this in Ado-Ekiti on Saturday while inspecting various road and drainage rehabilitation projects in the state capital, added that the purpose of any responsible and responsive government was to ensure that its citizens enjoyed good life and live in prosperity.

The governor, who inspected roads in the GRA 3rd extension; Ajilosun-Ikere, Agric. OlopeMatthew street and Midas area on Ado-Iworoko road, said government was making concerted efforts to enure permanent solution to the perennial flooding at the Ado end of Ado-Iworoko road and in some parts of the state.

Oyebanji, who was accompanied by some state officials also commended some of the contractors handling the

projects for a job well done, notifying those whose works he found unsatisfactory on the need to brace up.

“I came to inspect the progress recorded because contractors made some promises to us and I am here to cross check the promise against what they have done.

“You know the purpose of government is to make life easy for the citizens and if you know the history of this place very well, this place gets flooded every year and we have resolved that this year, we must ensure that people can move freely and nobody is disrupted, though we have not gotten to where we want to get to but it is work in progress.

“Well, so far so good, I am impressed with some of the contractors. I am not happy with some because of the pace of work. I have fixed a meeting with such contractors, so we can discuss. I will ask why they are not moving at the pace they should be moving because to the best of my knowledge government is not owing them any money,” he said.

the House of Representatives member, James Abiodun Faleke, the Kogi State Deputy Governor, David Edward Onoja, and the Chief of Staff to the Kogi State governor, Jamiu AbdulKareem Asuku.

Also in attendance were a

member of National Working Committee, Murtala Yakubu Ajaka; a former Commissioner for Finance, Asiwaju Ashiru Idris, a former commissioner for Local Government and Chieftaincy Affairs, Abdulsalami Deedat Ozigi, Ahmed Usman

Ododo and Yakubu Yusuf Okala.

Others were Murktar Bello, A Jimoh, former Director General Rural Electrification Agency, Dr. Sanusi Ohiare, former Minister of State Labour, Professor Stephen Ocheni,

Hajia Halima Kabiru Gaya, Muhammed Jibrin, Shuiabu Audu and Friday Idachaba.

By implication, all eighteen aspirants were expected to participate in the governorship primary scheduled for April 14, 2023.

NDLEA Intercepts Cocaine, Meth Going to Vietnam, Brazil, Italy Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a businessman, Molokwu Nwachukwu at the Murtala Muhammed International Airport, Lagos, for concealing 36 parcels of cocaine in different parts of his check-in bags, hand luggage and two pairs of slippers, while heading to Southeast Asia.

Molokwu, who is a frequent traveler to China, Dubai, Pakistan, and Vietnam, was arrested at the screening point of the MMIA Terminal 2 while attempting to board a flight to Vietnam last Wednesday.

Babafemi said a total of 36 parcels of whitish powdery substance that tested positive to cocaine with a gross weight of a kilogramme were recovered from the handles of his bags and soles of two pairs of slippers in his luggage.

The suspect claims he travels frequently to China, Dubai, Pakistan and Vietnam, from where he imports baby wears he distributes from his Onitsha, Anambra state base.

NDLEA operatives, also at the Lagos airport have thwarted attempt by a suspect, Chimezie Nwafor to export 2.1 kilogrammes of methamphetamine to Brazil.

According to the NDLEA Director, Media & Advocacy,

Femi Babafemi, a follow up operations led to the arrest of three more suspects linked to the consignment at Oyingbo market, Yaba, Lagos.

They included Ifeanyi Onu; Simon Nwuzor and Omini Peter, noting that the meth consignment was molded into 25 bars of local black soap called Dudu Osun and packaged in a carton for export to Brazil.

“A similar attempt to export a cocaine consignment consisting of 300 grammes of raw cocaine and 200 grammes of phenacetin, a chemical agent used to adulterate and increase the volume of cocaine, concealed in packs of air freshener, going to Malabo, Equatorial Guinea, was also foiled by NDLEA operatives attached to the SAHCO export shed at the Lagos airport on last Monday. A suspect, Onyeze Obiora has already been arrested in connection with the seizure.

“Another bid by an intending passenger to Reggio, Italy, Osasere MacDonald, to export 500grams of tramadol 225mg concealed inside a carton of indomie noodles last Tuesday was equally frustrated by vigilant officers who seized the drugs and arrested him,” Babafemi explained in a statement.

He said on same day, operatives of the Tincan Port command of the agency also intercepted 107 kilogrammes

of cannabis Indica popularly known as Colorado hidden in a container bearing four used vehicles imported from Toronto, Canada, adding that few days later, the Apapa Command of Customs Service was able to apprehend and hand over to NDLEA two suspects: Ademola Adekunle and Dayo Olatunji linked to the consignment.

“In Edo, operatives last Friday intercepted in Auchi, Etsako West local government area, a DAF trailer marked ZUR 378 XJ (Kebbi) with 69 bags of cannabis sativa weighing 700 kilogrammes concealed under bags of fertiliser.

“While the bags of fertiliser were to be delivered in Funtua, Katsina state, the cannabis consignment was to be dropped in Kaduna,” according to the spokesman who said both the driver of the truck, Babangida Mande and his assistant Mandir Abdullahi were already in custody.

“Another suspect, Ijarekhai Ogbewee was arrested last Thursday at Ishokha Quarters, Otuo, Owan East local government area, with 32 kilogrammes of the same substance.

“A female drug dealer, Mrs. Kudirat Bello was nabbed in Igbesa area of Ogun state last Monday, with different quantities of methamphetamine, cannabis and rophynol along with N119,600 monetary

exhibit.

“In Delta, 96 compressed blocks of cannabis weighing 82 kilogrammes concealed inside jumbo bags of cassava flour were recovered at Basket Market, Asaba, while a total of 164,750 pills of opioids mainly tramadol were seized from two suspects: Henry Abuchi and Daniel Ugwoke, in parts of Taraba state. No fewer than 45 blocks of compressed cannabis weighing 23 kilogrammes were recovered along Okene - Abuja highway from Abubakar Muhammad, in a Toyota Hiace bus coming from Lagos and going to Maiduguri last Tuesday in Kogi state.

“In Lagos, a total of 1,030.6 kilogrammes of cannabis were recovered from at least three suspects: Bolaji Adesina; Femi Ojo and Jamiu Useni during raid operations in Mushin area of the state,” the statement added.

The Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (Retd) while commending the officers and men of MMIA, Tincan, Edo, Ogun, Delta, Taraba, Kogi, and Lagos Commands of the Agency for their vigilance and excellent working relationship with other security agencies in their areas of responsibility, however charged them and their colleagues across the country not to rest on their oars.

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Acting Group Politics Editor DEJI ELUMOYE

POLITICS

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

M O N D AY D I S C O U R S E Kogi Guber: 18 APC Aspirants Square Up to Succeed Bello The screening at the weekend of 18 gubernatorial aspirants jostling to fly the flag of the All Progressives Congress in Kogi State, marks the beginning of electioneering process into the November 1, 2023 governorship poll in the Confluence state.

Faleke

T

he reason for this is not far-fetched.

Apart from the 18 aspirants who are squaring up for the party’s primaries in April, the opposition People’s Democratic Party (PDP) can boost of nine aspirants who have picked the party’s nomination forms for the November 1 election, including the party’s flag bearer in the November, 2019 governorship election in the Confluence State, Musa Wada.

While the opposition PDP has vowed to reclaim power at the November 1 poll, the APC is throwing everything to work to ensure it retains power.

Analysts, however, believe that for APC to retain control of the state, then it must shop for a credible and sellable candidate.

The people of the Confluence State, as Kogi is fondly called because of its natural features, will on November 1 this year head to the poll to elect who will take over from Governor Yahaya Bello whose tenure will end by January 27, 2024.

Elections in Kogi, especially, for the office of governor does not always come with straight jacket explanation, principally because of the delicate ethnic balance and the somewhat disproportionate population distribution of the State. This has been one constant source of tension in the state each time election season approaches.

The three components that make up Kogi State are not new to each other politically. The Igalas on the East of the Niger, Ebiras in the Central and Okuns in the West, all of whom share historical antecedents politically. Though the journey to becoming Kogi State is characterised by mixed bag of separations and reunification, the three major tribes that make up Kogi State have never settled at round table on the power dynamics.

While the Ebiras and the Okuns in Central and West respectively, feel cheated by the Igalas, who catching in on their numerical superiority have dominated the governance of the state since the state was created in 1991, especially, since Nigeria returned to democracy in 1999.

It would be recalled that the trio journyed from Kabba Province as part of northern region between 1960 and 1967, when Kwara, BenuePlateau and later Benue were created.

By the time the government of General Ibrahim Babangida created Kogi State on 27 August, 1991, the three tribes had learnt bitter political lessons.

Upon the creation of Kogi State, an Igala man, Prince Abubakar Audu became governor between 1991 and 1993, when the General Babangida’s transition to civil rule programme was truncated by the regime of late General Sani Abacha.

Upon the return to democracy via the Fourth republic in 1999, again, Prince Abubakar Audu returned as governor. Though he lost his reelection bid in 2003, he didn’t lose it to other tribes but another Igala man, Alhaji Ibrahim Idris, who spent two terms and handed over to another Igala man, Capt Idris Wada. He lost his re-election bid and was to handover to another Igala man, Prince Audu, before the cold hands of death snatched him in the middle

Oseni

of the November 2015 governorship election and power inevitably shifted to other zone.

Against the backdrop of the continuos dominance of Kogi governorship by the Igalas, other parts are beginning to agitate for equal treatment.

The crux of their argument is that, in the Fourth republic alone, the Igalas have spent 16 years as governor. This is not counting the aborted Third republic, where Prince Audu, an Igala man, was governor between 1991 and 1993. The Ebiras have just spent eight years with Alhaji Yahaya Bello in the saddle. There are calls from some quarters in the state that equity demands that the Ebiras be allowed also to serve out their 16 years before power moves to the West of the State.

Some stakeholders have also bemoaned the fact that Igalas are dangling zoning and ethnic cards to lay claims to a return of power to the East. Is there not a time-tested saying that “what’s good for goose is also good for the gander? Should other senatorial zones not equally enjoy the same privilege the Igalas have enjoyed?”, the Kogi State stakeholders have argued.

So far, 18 candidates have indicated interest and have backed their desires up with actions by purchasing expression of interest forms.

The aspirants have been screened and cleared to contest for the ticket of the party.

Analysts believe the contest for APC governorship ticket is mostly fierce because winning the APC ticket is as good as winning the election because the opposition in the State seems to be at a across road.

The APc governorship contest has been thrown open. Those who have indicated interest, picked forms and screened are the incumbent Chief of Staff to Governor Yahaya Bello, Abdulkareem Mohammed Jamiu; the incumbent Deputy Governor of the State, Chief Edward David Onoja; the Deputy Publicity Secretary of the APC, Murtala YakubuAjaka; member representing Oshodi federal constituency at the House of Representatives, Hon Abiodun James Faleke; a serving Senator, Yakubu Oseni; and son of the late former governor of Kogi State, Shuaibu Abubakar Audu.

Others in the race are Accountant General of Kogi State, Alhaji Jubril Momoh; the Auditor General of Kogi State, Mallam Yakubu Yusuf Okala; the State Commissioner for Finance, Asiwaju Asiru Idris; lawmaker representing Kogi West Senatorial

Adeyemi

Asuku

District, Smart Adeyemi; former minister of State for Labour and Employment in Buhari’s first term, Prof Stephen Ocheni; Commissioner for Local Government and Chieftiancy Affairs, Salami Momodu Ozigi; lawyer and politician, Halima Alfa; Kogi State Auditor-General for Local Government, Alhaji Ahmed Usman Ododo; GM, Business Development (FCT/North) at eTranzact; Jimoh Adebanjo; and Chairman/ CEO of Hamif Real Estate Nigeria Ltd, Chief Friday Idachaba.

Governor Bello, who assumed the saddle following the demise of PrinceAbubakarAudu in the middle of the November 2015 governorship election still hold the aces.

Judging from the results of series of elections since Bello became governor, he still holds the card. Needless to add that with results of the presidential, legislative elections in the State, the APC is still a party to reckon with in the state.

A quick look at the profile of some of the APC aspirants desirous of succeeding Governor Bello will suffice.

Lagos are at different stages of development.

James Faleke Leading the pack of those who have picked the expression of interest forms is Hon Abiodun James Faleke, member representing Ikeja federal constituency of Lagos State and running mate to Prince Abubakar Audu, the APC governorship candidate, who succumbed to the cold hands of death when the election was almost won and lost in November 2015 governorship poll.

Without an iota of a doubt, Faleke is a formidable aspirant among the lot, having tested the waters along with the late veteran politician Abubakar Audu, who had also served as the first and second executive governor of the State between 1991-1993 and 1999-2023.

The icing on the cake for Faleke is the fact that he is a member of the inner circle and trusted political godson of the president-elect, Bola Ahmed Tinubu. Tinubu had facilitated Faleke’s emergence as Audu’s running mate in 2015.

Faleke had last month secured re-election for the fourth term as a member of the green chambers of the national assembly.

Some analysts are of the opinion that, with Tinubu his godfather, as Nigeria’s president-elect, can Faleke’s ambition be seen as a daydream?

Besides, he is a man of immense experience in blue chip companies.

On the flip side, some are of the opinion that since Faleke is eternally tied to the apron strings of a Lagos godfather, if elected governor of Kogi State, his first loyalty will certainly be to Tinubu, who they say pays the Piper.

His greatest baggage is the disquiet among Kogi political stakeholders, especially Kogi West where Faleke hails from. Some have argued that it’s practically impossible for Faleke, who’s a Lagos man to be 100 percent committed to Kogi’s cause. But some have also said if Faleke becomes governor with Tinubu as president, Kogi State stands to benefit more.

It has been proven that the true test of any leader is his/her track records, hence its erroneous to use the Lagos parameter to judge Faleke’s leadership capacity, given that Kogi and

Edward David Onoja The current Deputy Governor of the State, Edward David Onoja is a man of many parts.

He was the Chief of Staff to Governor Yahaya Bello during the first term. Working in synergy with his boss, Onoja has his greatest strength in identifying and recruiting young people into governance. Together, they changed power dynamics of Kogi for good. As the brain box of government, he unleashed the power creativity.

However, most Kogites are of the opinion that Onoja can’t be trusted with power. Their reason is predicated on him being considered immature and highanded in his approach to issues.

As the then Chief of Staff to Governor Bello, Onoja made more enemies than friends for himself and the governor between 2015 and 2019.

Up till today, the toes he stepped on may be somewhere waiting to pay him back in his own coin, if given the APC ticket.

His flagrant disregard for the traditional institution is said to have angered some people, who have vowed never to forgive him.

Yakubu Useni A serving senator, who is also in the race for Lugard House, Yakubu Oseni, while speaking with journalists in Abuja last week, took a swipe at proponents of zoning.

According to him, Kogi East ruled for 16 years without recourse to zoning, insisting that the development has laid to rest zoning rhetoric, hence, anybody can contest the governorship primary.

His words: “There is no zoning arrangement in Kogi State governorship race. The electorate are the ones to determine their leaders through election.

“The wrong impression by the people that the governorship of Kogi is zoning is not correct.

There was nothing like that before or now.

“Kogi East ruled for 16 years until God decided to change it, so where is the zoning arrangement?”

Oseni may not be the ideal man for the job at this time, as analysts opined that the man Kogi needs now is one who possesses the leadership capacity to unite the ethnic groups that make up the State.

Smart Adeyemi A very experienced politician and lawmaker who has contributed largely to the political developments of the state and has several bills credited to his name at the Red Chamber of the National Assembly.

Adeyemi is an outspoken politician who speaks truth to power when necessary. He represents Kogi West and it is believed that he is very qualified to be Kogi governor in the first place but he is perceived as one to expect less from going by his constituency records.

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

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T H I S D AY ˾ MONDAY MARCH 27, 2023

MONDAY DISCOURSE

Oladipo Diya: The Exit of a General Former Chief Of General Staff during the military regime of late General Sani Abacha, Lt General Oladipo Diya (rtd) died in the early hours of Sunday. Segun James writes that the Ogun State born three-star general was an exemplary military officer and a complete gentleman.

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hey are now regularly being decimated by death. Not at wartime as you would expect of combatant soldiers, during which as officers, they led the nation out of a fratricidal civil war that claimed over two million lives, thereby ensuring that the nation remains one. But now through death at old age.Which is the prayer of every man.

One by one, they are exiting and bringing an era in Nigeria to a close. So it is now with the military officers that led Nigeria to the most critical stage of its existence – the period between 1966 and 1979 and the intervening period between 1983 to 1999.

Death is a curious thing; it strikes when least expected and sometimes in rapid succession. This was the situation when Major General Adeyinka Adebayo (rtd) and Brigadier-General Samuel Osaigbovo Ogbemudia (rtd) died in rapid succession within 24 hours. Only to be followed by the death of former military governor of Lagos state, Rear Admiral Ndubuisi Kanu; and now Lt General Oladipo Diya has joined the league of a fast-disappearing generation.

Diya, an elder statesman and leader died at 78, a week shy of his 79th birthday on April 3.

It says a lot about your trustworthiness when soldiers of the other rank at risk to their lives, whispered to you that you have been marked for assassination by your boss; and that any attempt to fly in the presidential aircraft you are about to take is suicidal.

He was completely detribalized and a complete gentleman. That was Lt General Donaldson Oladipo Diya, a quintessential military man.

Military officers are not generally made for the limelight, but in 1984, Diya, a lifelong Nigerian Army officer was appointed military governor of Ogun state. This was taking him out of his element. For the first time, he was pushed into the political field.

His was a daunting task. Diya was not only from Ogun state, he was taking over from a political colossus in the person of Chief Olabisi Onabanjo.

A man who had in four years achieved so much that Diya cannot even fault his rule in the Gateway state. To meet up with the achievements of his predecessor, Diya built roads, the most by any military governor, linking all parts of Ogun state and ensuring the beautification of the capital city, Abeokuta.

Diya never discriminated in his efforts to develop his state, hence when he was accused of being party to a military coup against General Sani Abacha, his traditional ruler, the Awujale of Ijebuland, Oba Sikiru Adetona, stood by him, despite threat of a deposition. That says a lot about the integrity of the General.

Diya was born on 3 April 1944 at Odogbolu, Ogun State in the then Western Region of Nigeria. He was educated at the Methodist Primary School, Lagos and Odogbolu Grammar School where he had his West Africa School Certificate.

He joined the Nigerian Defence Academy, Kaduna, the nation’s prestigious military school before being drafted to fight during the Nigerian Civil War. He later attended the US Army School of Infantry, the Command and Staff College, Jaji (1980–1981) and the National Institute for Policy and Strategic Studies, Kuru.

While serving in the military, Diya studied law at Ahmadu Bello University, Zaria, where he obtained an LLB degree, and then at the Nigerian

Diya

Law School, where he was called to the bar as Solicitor and Advocate of the Supreme Court of Nigeria.

He was Commander 31, Airborne Brigade and was appointed Military Governor of Ogun State from January 1984 to August 1985.

He became General Officer Commanding, 82 Division, Nigeria Army in 1985. Diya was Commandant, National War College (1991–1993).

He was appointed Chief of General Staff in 1993 and Vice Chairman of the Provisional Ruling Council in 1994. As Chief of the General Staff, he was the de facto Vice President of Nigeria during the Sani Abacha military junta from 1994 until he was arrested for treason in 1997. His Principal Staff Officer during this period was Navy Commodore Bode George now retired.

In 1997, Diya and some dissident soldiers in the military

allegedly planned to overthrow the regime of Sani Abacha. The alleged coup was uncovered by forces loyal to Abacha, and Diya and his cohorts were tried and convicted.

Diya was tried in a military tribunal and was given the death penalty. Upon the death of Abacha in 1998, Diya was pardoned by the late Head of State’s successor, General Abdusalami Abubakar.

Most people believed that the muchhyped coup was, in fact, a ploy by Abacha to do away with Diya, who was increasingly becoming popular among the elite and opposition parties, for his moderate views on the situation in Nigeria.

Earlier on, Abacha’s loyalists had twice attempted to assassinate Diya, once at the airport and then on the streets, using bombs. But most analysts said whether motivated by a real coup plot or not, the arrest of General Diya signalled deep divisions within the Nigerian military and reflected rising tensions over General Abacha’s apparent intention to remain in office by engineering his own election as President.

His was a daunting task. Diya was not only from Ogun state, he was taking over from a political colossus in the person of Chief Olabisi Onabanjo. A man who had in four years achieved so much that Diya cannot even fault his rule in the Gateway state. To meet up with the achievements of his predecessor, Diya built roads, the most by any military governor, linking all parts of Ogun state and ensuring the beautification of the capital city, Abeokuta

The fact that General Diya and almost all of the others arrested were Yoruba from the already deeply disaffected Southwest was seen by some as a virtual provocation at a time when a country of powerful regional rivalries was entering into a period of renewed civilian politicking. General Abacha, like his inner core of senior officers and much of the army’s rank and file, was a Hausa-speaking northerner of Kanuri origin.

After his arrest, a military tribunal sitting in Jos, the Plateau State capital sentenced six people including Lieutenant Diya to death by firing squad in April, 1998. The accused were brought to the main military barracks in Jos for the trial. Security was tight, and the men on trial were chained at their ankles during the proceedings.

In a moving statement at the commencement of the trial, General Diya asserted that he was set up by another officer close to Abacha and Chief of Army Staff, Major General Musa Bamaiyi, who approached him with the idea of staging a coup. Given the explosive nature of the charge, the government then closed the trial to the public.

The head of the military tribunal and former Commander of the West African regional peacekeeping force (ECOMOG), Major General Victor Malu, while responding to Lieutenant General Diya’s allegation that people at the very top framed him, said it was not necessary to know who had initiated the conspiracy.

He noted that all Diya had to do was prove that he had not been part of the plot at any stage. Malu assured the defendants that they would be given a fair trial and unlimited access to the information they needed to defend themselves. “This tribunal will not conduct or tolerate a trial by ambush”, he said.

The South African government questioned the secrecy surrounding the trial and warned of the probability that there could be an unfavourable reaction, both in Nigeria and internationally, to the carrying out of the sentences.

The sentence was later commuted by the head of state, Abdusalami Abubakar, who succeeded General Abacha.

Diya, was not only released but also discharged from the army, stripped of his rank, and barred from using his military title.

Following his release, Diya refused to cooperate with any investigations

by Oputa Panel into his activities while he was ChiefofGeneralStaff.

He spent most of his time attempting to recover various properties seized by the government upon his arrest.

In May 2020, General Diya lost his second wife Folashade, a few days before her 65th birthday. It was reported that she died from COVID-19 complications and his first wife was said to be COVID-19 positive as well.

Since his narrow escape from the Abacha gulag and return from prison, Diya never ventured into politics. He remained a statesman till the end.

Lamenting the death, the Principal Staff Officer to Diya as Chief of General Staff, Commodore Olabode George said “the Lord that giveth and the Lord taketh away. May God give him eternal rest and may his memory be a blessing to his family and friends. He ran his race to the best of his calling and we must leave the rest for the pages of history. Good night sir till the resurrection morning when we shall meet to part no more. May the Angels sing you to your resting place.

My deepest condolences to his family, especially Simi.”

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FEATURES

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

EndSARS: How Lagos Government Gambles with Corpses of Victims, Denies them Peaceful Rest The call by Lagos state government in November 2020, inviting family members of EndSARS victims for a DNA test to claim their corpses may have come as a relief to the bereaved. More than two years after this call, Omolabake Fasogbon discovers that many corpses are still being wilfully detained by government after failing to take responsibility for the test it called for, leaving relatives to chase shadows for the corpse of their loved ones

EndSARS protest

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he word of renowned psychiatrist, Colin Murray Parkes, "Grief is the price we pay for love”, aptly describes the plight of Bose and Tunde Onifade, the parent of late Pelumi Onifade, who was killed while covering the EndSARS protest In 2020.

The EndSARS movement is a public action against police brutality, and later extended into an uprising against bad governance in Nigeria.

Killed like a criminal, young and promising Pelumi was one of the monumental loss of the protest that literally torn Nigeria apart.

Pelumi, who should have been 23 this year, was on internship with a local media platform, Gboah TV. As part of the training on the job, he was assigned to cover a section of the protest in Lagos. Unfortunately, he lost his life.

A second-year history student at the Tai Solarin University of Education (TASUED), Ogun State, Pelumi was shot at like an animal preyed upon by one of the policemen who tried to disperse hunger stricken crowd at a store in Oko Oba, Agege, Lagos, where COVID-19 palliatives were being hoarded.

By October 24, 2023, it will be three years that the young journalist departed from this world, yet hurtfully, Pelumi's parents, among many others bereaved by the saga, are yet to take possession of the corpse of their loved ones hanging in the custody of Lagos State government.

This is inspite that the Lagos State government promised to release corpses to their owner, and even invited relatives for a DNA test to ensure that they do not claim the wrong corpse.

The deceased's mother, Bose, said that her son's corpse was last seen on Thursday, October 29, 2020 in Ikorodu morgue by concerned church members who visited. She said family members barred her from visiting the mortuary.

In this part of the world, although tradition forbids parents from beholding the corpse

Late Pelumi Onifade of their child, but it was certainly not against burying a dead child deservedly.

Visiting Bose in their one room apartment in Aboru, Iyana Ipaja, Lagos, she was in despair, yet resolute. Her words and mien exudes agony. Obviously, burying her child is the only soothing therapy.

She recalled how she had to hawk

Pelumi's mother, Bose at LSD&FC office her petty items from morning till night to support her husband's meagre income to sponsor Pelumi through school.

She is pained that the beautiful and rosy plans Pelumi had for her would never come to be.

Worse still, she is embittered that two years after Pelumi's death, she has not been able to give a befitting burial to her first and only son, who according to her should have been

She recalled how she had to hawk petty items from morning till night to support her husband's meagre income to sponsor Pelumi through school... worse still, she is embittered that two years after Pelumi's death, she has not been able to give a befitting burial to her first and only son, who according to her should have been the first graduate in her family

the first graduate in her family. Therefore, for the petty trader, it is a tale of double woes.

As she wept uncontrollably with mucus dripping from her nose, "she said, " we have done everything possible to retrieve his corpse to no avail. Only if I had known journalism is this risky, I wouldn't have allowed my son to venture into it."

Fruitless Search for Justice, Pelumi’s Corpse Bose told this reporter that she and her husband, Tunde begun a seemingly endless search for their son's corpse ever since government ordered a DNA test for all victims' relatives.

It could be recalled that shortly after the EndSARS revolution, the Lagos State Chief Coroner, Mojisola Dada issued a public announcement requesting all family members whose loved ones were missing between October 19 to 27 to visit the Department of Continued on page 21

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FEATURES

Newspaper publication inviting relatives of ENDSARs victims to LASUTH for body identification

LSD&FC office Pathology and Forensic Medicine, Lagos State University Teaching Hospital (LASUTH) to identify their loved ones.

Pelumi met with his untimely death on October 24, October 2020 in the heat of the crisis, thus falls within specified government time frame above.

Bose said she was consoled by the coroner's announcement which raised her hopes of giving her child a fitting burial.

She said she visited LASUTH alongside her husband to submit samples for the test with great expectations.

Findings revealed that apart from Bose and Tunde, 14 other bereaved families also submitted their samples for DNA test in LASUTH. According to the judicial panel of inquiry set up by the state government to investigate incidences of police brutality, 99 persons died in the protest, many of whose bodies were picked on the street by strangers, officers of State Environmental Monitoring Unit, (SEMU) and the police and later deposited in government mortuary.

Bose lamented that they were yet to get the result of the DNA test since 2020 and have not stopped visiting LASUTH for it.

But according to pathology experts, a DNA test usually take a minimum of two days and maximum of eight weeks to get the result, depending on environmental factor and quality of samples.

Bose revealed, "After they collected our samples, one Dr Obafunwa promised to call us when the result comes out. We waited for the call which didn't come, hence, we visited and they asked us to keep checking.

Since then, we have not stopped checking.

"One of LASUTH employees who was familiar with our struggle told us not to waste our time on the matter. She said government did not release money to run the test and apparently, not ready to run the test."

This reporter gathered that LASUTH as an institution does not conduct a DNA test, other than collection of samples which will then be sent to experts, mainly outside the country for analysis.

That Bose and her husband were outsmarted by the ENDSARS judicial panel also compounded their predicament.

For this family therefore, it is a tale of injustice and betrayal that hardens their memories of Pelumi.

Pelumi was betrayed in life and in death.

"We have exhausted all options in seeking justice for our son that never came. Now we may not be able to pay the last respect to our son in if government remains rigid", Bose cried. ”I believe miracle can still happen”, she added.

Already, there had been unsuccessful move by the state to block the family from seeking justice over the unlawful death of Pelumi.

Tunde averred that it was not surprising to him when the panel eventually sidelined his family from getting compensation.

In a phone call conversation, the electrician father of late Pelumi recounted their ordeal with the judicial panel, saying, “The panel had already given us a date to come for the final hearing and we were looking forward to the date. Sadly, they changed the date without our knowledge.

"They had already started hearing on this new date when our lawyer alerted us. By

Governor Sanwo-Olu with the Lagos EndSARS panel the time we got there, they had finished. There was no way we could meet up because we live on the mainland, while the panel met on the Island. That was how we lost.

We heard government compensated some victims, nothing got to us.

"On many occasions, I borrowed money to transport my wife and I to the panel proceedings. It is so sad. I want to believe that we are being treated this way because we are not influential".

A DNA Test that Never Happened Conditioned to retrieving dead bodies by families was a mandatory DNA analysis that Lagos State government ordered.

Indeed, government initially showed commitment, thus raising the hopes of the concerned, some of who had already begun burial preparations for their own.

But the cry of Bose in January, 2023, begging government to release the corpse of her child that has been in government's custody since 2020, aroused public suspicion and raised concerns.

A follow up investigation by this reporter however revealed that government never conducted a DNA test for all the samples collected, rather played on the feelings of the grieving families.

True to Bose’s claim earlier, a very close source in the Ministry of health, who chose to be anonymous, told this reporter that the refusal of government to fund the test had stalled it.

By implication, relatives of ENDSARs victims may never be able to retrieve their corpses, which

is contingent upon DNA result.

If the EndSARS Judicial Panel of Inquiry report was anything to go by, only three out of 99 dead bodies of the protest have been claimed so far; and this is because the three bodies were identified when deposited.

When contacted, Chief Pathologist of LASUTH, Prof. John Obafunwa admitted to collecting samples from 15 relatives as revealed in the panel report, but maintained that neither he or his Department were in custody of any sample.

When bugged further on samples whereabouts, he retorted, "Go to the coroner or the Ministry of Justice to make enquiries.

I have no comment".

DNA Samples Rotting out in Lagos Agency Checks from the judicial panel report showed that DNA samples were boxed idly in LASUTH for more than one year, leaving Pelumi's relatives and many others affected in the dark.

The Ministry of Health source further revealed to this reporter that samples were transferred from LASUTH to Lagos State DNA & Forensic Center (LSD&FC), when government did not attend to them for a long time. He added that he was not sure that the centre worked on the samples thereafter.

Following the tip, this reporter, along with Bose paid an unscheduled visit to LSD&FC at Odunlami Street in Lagos Island.

The gigantic LSD&FC building razed during EndSARS has become a shadow of its former self as the memories of EndSARS speak all over the building.

Conspicuously glaring are the shattered glass wall, black soot and a mortuary like silence that leave a picture of the ruins of war zone.

By first impression, it was as though the centre was inoperable until the two guards on ground proved us wrong.

"We are here to submit samples for a DNA

We have exhausted all options in seeking justice for our son that never came. Now we may not be able to pay the last respect to our son in if government remains rigid...but I believe miracle can still happen

test", this reporter had deceitfully told one of the guards who led us to a small office behind the building, manned by two workers.

This reporter later found out that the centre now functions with two workers, and a supervisor who rarely comes to office.

Presenting her identity and that of Late Pelumi, Bose now sounding bold, approached the staff members for update on ENDSARS related DNA samples purportedly sent from LASUTH, the workers denied having the samples and asked her to return to LASUTH. While this reporter conversed with one of them who simply identify self as Shade, she claimed to be ignorant.

She said, “I'm not aware of any samples sent from LASUTH. In any case, I will try and find out. But if the samples were presented by LASUTH, then the result should be delivered to LASUTH and not any individual. I supposed they should have run the test since it is more than a year."

Lagos Agencies Pass Buck, Toss Reporter around like Ball Like one who is cock sure, this reporter approached the Managing Director of LSD&FC, Dr Richard Somiari requesting for an outcome of the DNA samples of relatives of ENDSARs victims brought from LASUTH. He neither admitted nor denied. He, like Obafunwa asked reporter to relate with Attorney General and Commissioner for Justice, given the confidential policy of the centre.

He wrote in a WhatsApp message, “Due to the sensitivity and confidentiality policy of the Lagos State DNA & Forensic Center, we are unable to discuss or disclose information.

All enquiries regarding such may be routed through the office of the Hon. Attorney General and Commissioner for Justice and/ or Solicitor General and Permanent Secretary at the Lagos State Ministry of Justice. With the best regards".

Shockingly, when our reporter reached out to the PR officer of The Lagos State Ministry of Justice,(Lagos MOJ), Grace Alo as directed by Somiari, she in turn asked this reporter to talk to Somiari, even after this reporter told her that she was directed

by Somiari to Lagos MOJ for enquires She simply said in a WhatsApp note, "Pls speak with Dr Somiari" and never responded to further enquiries.

Finding Closure Pathology experts hold that a DNA test can be conducted on a corpse that is as old as a century, in so far it is well preserved.

On the lifespan of a DNA sample, a Consultant Anatomic Pathologist/ Forensic Physician, Prof. Victor Onyiaorah enlightened that a DNA sample can equally be preserved for more than 100 years as long as it is not contaminated He said, “it is incumbent on the professional who collected a sample for DNA analysis to handle it in the most appropriate manner, as to prevent both contamination and losses of the DNA analyte".

Although, it is not cleared whether samples collected in 2020 from the victims of EndSARs, both the dead and their relatives were well preserved or mishandled, experts say when such samples are well preserved, they can still be analysed to get needed result. But where the latter is the case, a new one can be collected to serve purpose.

T H I S D AY • MONDAY, MARCH 27, 2023

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This Week In Tech 08097710984

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Tech Top 5 News UK-NIGERIA TECH HUB, GOOGLE COLLABORATE TO SUPPORT WOMEN FOUNDERS

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HE UK-Nigeria Tech Hub, a significant part of the UK government’s broader Digital Access Programme (DAP), recently announced a collaboration with Google for Startups Africa to support women founders in technology.

As part of the collaboration, the commission said $3 million in Google Cloud credits would be awarded to women founders in Nigeria, subsidising cloud technology-related costs for startups and enabling them to focus on innovation, customer acquisition, and growth.

It said the joint effort by UK-Nigeria Tech Hub and Google for Startups Africa would help promote digital inclusion and jointly support technology businesses run by women entrepreneurs.

Speaking on the collaboration, the Country Director, UK-Nigeria Tech Hub, Justina Oha, said: “We are thrilled to announce our collaboration with Google for Startups, which comes at a time when the world is celebrating International Women’s Day. “This partnership is a testament to our commitment to supporting women founders and helping them reach their full potential.

Partnerships like this are one of the great ways that stakeholders can come together to advance Nigeria’s tech ecosystem at an accelerated pace.”

On his part, Head of Startup Ecosystem Google Africa, Folarin Aiyegbusi, said they were excited to partner with the UK-Nigeria Tech Hub to empower women entrepreneurs in Nigeria.

Aiyegbusi said the collaboration was a unique opportunity to provide women founders with the support and resources they need to scale their businesses and contribute to the growth of Nigeria’s tech ecosystem.

“We believe that empowering women founders is key to building a more diverse and inclusive tech industry,” he said.

DATING APP, TRUEFLUTTER HITS 250,000 SUBSCRIBERS Nigerian startup Trueflutter, a dating and matchmaking app specially designed by Africans, has about 250,000 subscribers and plans to hit one million by the end of 2023.

Two brothers, Dare Olatoye and Ayo Olatoye, created the app to help people overcome loneliness.

Unlike most dating apps offering users only profile pictures, Trueflutter allows users to add a voice note to their profile.

Trueflutter generates revenue through its app and matchmaking service. It also raised pre-seed funding in 2022 and additional funding to scale in 2023.

Because 92 per cent of its users have never used a dating app, the company says it constantly solicits input from its clients on enhancing their user experience.

It is currently setting up a marketing team in South Africa and Kenya as it also plans to expand its operations to these countries.

The CEO of Trueflutter, Dare Olatoye, said, “We have over 40,000 organic subscribers from Kenya alone, and we have had a lot from South Africa, so that is why we are hitting those markets.”

People who value their privacy and do not want to be recognised online use private matchmaking services.

Before a user pays for the matchmaking service, Trueflutter consults with them via Zoom. After payment, they fill a form that captures their information, including genotype and preferences.

It connects Nigerians with people from the diaspora, and users are assigned a personal matchmaker who matches them with others with similar interests.

“You can chat and do a few other things. It doesn’t limit you, but if you want to access more features, you must pay for them,” Dare explained. “If you also want to meet people from the diaspora, for instance, you must pay to change your location.”

FG LAUNCHES FUND TO SUPPORT STARTUPS The federal government of Nigeria has launched a $618 million fund to support its tech startups.

This comes amid the disruptions in the tech

Tech Personality of The Week DOUGLAS KENDYSON

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his week’s tech personality is Douglas Kendyson.

Douglas is the CEO and founder of Selar, an eCommerce tool creatives and entrepreneurs use to sell their content, products, and services across borders without any hassle.

The platform supports African creators in all ways possible, training and empowering them to be digital entrepreneurs, monetising their knowledge through digital products like ebooks, courses, training, and monetising their audience and community through membership subscriptions.

Douglas is a software engineer with experience in the fintech and payments space. He has worked for the top YCombinator-backed payment startups in Africa, like Flutterwave and Paystack, and a Robo-advisory firm in the UAE (Sarwa) and Dapi, building the payment infrastructure for the Middle East.

Selar is impacting and empowering a new generation of entrepreneurs of digital products and becoming the largest creator platform in Africa.

According to the company, they have been up since 2016, but over 80 per cent of their growth happened in the last two years.

It has over 300,000 registered users, 55,000 creators selling products and monthly transactional revenue of over $350,000.

Selar makes it easy for anyone to convert their knowledge to money via ebooks, courses, training, etc. It is live in 13 African countries presently. ecosystem caused by the recent collapse of three key US banks.

The fund was launched recently under the government’s Digital and Creative Enterprises (iDICE) by Vice-President, Yemi Osinbajo.

The African Development Bank (AfDB) will contribute $170 million, Agence Francaise de Developpement will provide $116 million, and the Islamic Development Bank will contribute $70 million. Through the Bank of Industry, the Nigerian government will provide $45 million, while the country’s private sector has pledged $217 million.

The three now-defunct US-based lenders, Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank, had been supporting tech-focused venture capitalism in Africa.

Nigeria’s new fund, which targets founders aged between 15 and 35, has been created to help its tech industry avoid growth contractions.

AfDB’s funding is expected to attract direct investments in more than two hundred tech startups in the West African nation and provide non-financial services to some 450 small and medium digital technology enterprises.

For the second year running in 2022, Nigeria was Africa’s most funded country, with 180 startups receiving up to $976 million, almost 30 per cent of the $3 billion the continent received.

Nigeria has the largest number of startups in Africa - mostly in tech and fintech - which have pulled funding from overseas banks and venture capital firms.

META LAUNCHES WHATSAPP DESKTOP APP FOR WINDOWS Meta CEO Mark Zuckerberg has announced a brand-new WhatsApp application for Windows. This new app will enable group video calls with up to 8 people and audio calls with up to 32 people from desktop

applications.

On his Facebook account, Zuckerberg said, “Launching a new WhatsApp desktop app for Windows. Now you can make E2E encrypted video calls with up to eight people and audio calls with up to 32 people.”

WhatsApp has claimed that the new windows desktop app loads faster and is built with an interface familiar to WhatsApp and Windows users.

WhatsApp has also promised future increments to these limits over time.

The app also claimed that it offers faster device linking, better syncing across devices, and new features such as link previews and stickers.

The company also revealed WhatsApp is also increasing support on more devices. It has also just introduced a new WhatsApp beta experience for Android tablets and will also introduce a new, faster app for Mac desktops that is currently in the initial stages of beta.

The app also offers end-to-end encryption for messaging, media, and calls across devices, with improved syncing and new features.

Multi-device capabilities rolled out to WhatsApp in 2021, allowing users to sync messages across devices even if their phone was off or offline. That functionality raised the profile of WhatsApp for the web and WhatsApp on Windows.

While WhatsApp has been usable on PCs for years in some format, such as the web, the new Windows app feels like a concerted effort to bring WhatsApp on Windows to parity with the app on other platforms.

HOUSEAFRICA CLOSES $400,000 SEED FUNDING ROUND Proptech startup, HouseAfrica, has announced the closing of $400,000 in funding.

The company, which Nnamdi Uba and Ndifreke Ikpoku founded, also unveiled their flagship product, sytemap.com.

They specialise in providing Real estate digitalisation and transparency tools for property developers and their customers.

Sytemap leverages proprietary blockchain and map technology to create a private land registry, digitising real estate project sitemaps.

The product increases transparency and enhances trust by enabling instant land transaction authentication while growing sales for real estate companies.

Sytemap simplifies buying and paying for properties, enabling more people to become digital realtors effortlessly.

Speaking about the raise, HouseAfrica CEO and cofounder Nnamdi Uba said the funding would assist the startup in deepening its technology and growing adoption and its team.

He stated, “Close to 95 per cent of lands do not have verifiable titles, which expose genuine retail investors to fraud. Our solution enables buyers to make informed decisions when buying lands.”

In a statement, founder and general partner Future Africa, Iyinoluwa Aboyeji, said, “HouseAfrica is helping to create and digitise private land registries. I always thought it was only the public land registries that were slow, inefficient, and murky until I heard about the experience of a friend who had to pay two different sets of people to buy land within a private estate. I am super excited about how by helping private landowners and estates digitise their land records, they can start to help create transparency and value that should hopefully soon inspire government land registries to follow suit.”

HouseAfrica is backed by leading African and global investors like Future Africa, SSE Angel Network (SSEAN), ARM Labs and others.

T H I S D AY • MONDAY, MARCH 27, 2023

23

TRIBUTE Oladipo Diya: Service, Courage and Death After surviving several existential challenges encapsulated in his tumultuous martial career trajectory, retired Lt-General Oladipo Diya, former Chief of General Staff and de facto vice president to General Sanni Abacha, bowed out with head held high, writes Louis Achi

T

he towering Odogbolu, Ogun State-born martial icon would have ‘breathed’ his last 25 years ago in a chilly Jos afternoon in Plateau State when his death sentence by the military junta he served was proclaimed.

But fate had other plans for the Nigerian Civil War veteran and former Chief of General Staff under the tumultuous General Sani Abacha regime.

But yesterday, Sunday March 26, 2023, retired Lt-General Oladipo Diya, 79, took his last and final mortal breath. “On behalf of the entire Diya family home and abroad; we announce the passing on to glory of our dear husband, father, grandfather, brother, Lt-General Donaldson Oladipo Oyeyinka Diya (Rtd) GCON, LLB, BL, PSC, FSS, mni.”

Diya’s son, Barrister Prince Oyesinmilola Diya, in a signed statement on behalf of the family soberly told Nigerians of his father’s decease, stating he died in the early hours of Sunday, March 26 2023.

Diya was the de facto vice president to General Abacha, from November 1993 to December 1997 when he was arrested by the paranoid Abacha junta and charged with treason for allegedly planning a coup to overthrow the government in power.

Many saw this as no less than the dark side of Nigeria’s military politics. Prior to his arrest, Diya had cheated death by allegedly missing a bomb explosion at Abuja International Airport.

It could be recalled that 25 years ago, in April 1998, Diya and the other suspects were made to stand trial in a military tribunal. The military barracks in Jos, Plateau State, was the venue of the conviction. Diya and six others were sentenced to death by firing squad.

Five of the 20 other accused received prison sentences ranging from 2 to 14 years while 15 others

Diya were set free. But barely two months after the trial, the military head of state, General Sani Abacha died and was succeeded by General Abdulsalami Abubakar.

Diya whose death sentence was later commuted to a 25-year jail term, and his colleagues were eventually freed after General Abdulsalam Abubakar granted them amnesty.

Ordinarily by enlisting in a country’s military, a typical citizen ultimately signs up for death in the defence of his nation’s freedom and father land at large. This was Diya’s vision and providential trajectory.

But there have been several twists and turns in his martial career trajectory. Besides surviving the civil war, playing in the complex Nigerian military geo-political intrigues, surviving even the reported bombing targeting him at the Nnamdi Azikiwe International Airport Abuja, he significantly proved he was no less a child of providence.

He was born on April 3, 1944, in Odogbolu, Ogun State in South Western Nigeria. Diya attended Yaba Methodist School, Lagos from 1950 -1956 and thereafter became a pioneer student of Odogbolu Grammar School, Ogun State, which he attended from 1957 to 1962.

He joined the Nigerian Defence Academy, Kaduna and fought during the Nigerian Civil War. He was commissioned a Second Lieutenant in March 1967. He later attended the US Army School of Infantry, the Command and Staff College, Jaji (1980-1981) and the National Institute for Policy and Strategic Studies, NIPSS, Kuru, Plateau State.

While serving in the military, Diya studied law at Ahmadu Bello University, Zaria, where he obtained an LLB degree, and then at the Nigerian Law School, where he was called to the Bar as Solicitor and Advocate of the

Supreme Court of Nigeria.

He was military governor of his native Ogun State from January 1994-August 1995, after the General Muhammadu Buhari-Brig. Tunde Idiagbon military coup of 31 December, 1983 that sacked the Alhaji Shehu Shagari democratic regime.

He held other top military posts - becoming General Officer Commanding 82 Division, Nigeria Army in 1985. He was also Commandant, National War College (1991-1993) and then was appointed Chief of Defence Staff and finally the Chief of General Staff.

He was appointed Chief of General Staff in 1993 and Vice Chairman of the Provisional Ruling Council then in 1994. As Chief of the General Staff, he was the de facto Vice President of Nigeria during the Sani Abacha military junta from 1994 until the quirky treason saga in 1997. His Principal Staff Officer during this period was Bode George.

Diya was certainly no saint on the Vatican’s radar in his lifetime and significantly never claimed such arcane status. But unquestionably, he impacted his milieu in a way that history would be kind to him.

According to US General Douglas McArthur, “The soldier above all prays for peace, for it is the soldier who must suffer and bear the deepest wounds and scar of war.” Undoubtedly, Diya bore his own share of wounds of war but perhaps received the more insidious wounds and scars outside the theatre of battle.

Although another US General George S. Patton counsels that, “It is foolish and wrong to mourn the men who died. Rather, we should thank God that such men lived,” the grieving family of Diya can find some consolation that their patriarch left memorable footprints on the sands of time.

NEWS NIGERIANS GRIEVE AS GENERAL OLADIPO DIYA PASSES AT 78 Number Two man under the military administration of General Sani Abacha from 1994 to 1997.

"I recall as a Military Governor of Ogun State, he made tremendous mark through dedication to duty, loyalty to his fatherland and an impeccable example of incorruptible leadership. He was courageous and quite a disciplinarian and a no-nonsense officer.

"In retirement, Diya contributed to national development as a private businessman, legal practitioner and a provider of employment for many of our people. He is being mourned, therefore, beyond his immediate family and community. I believe the entire nation also shares the pain and grief for the irreparable loss of a distinguished son of Nigeria, indeed."

Jonathan, Atiku Mourn, Say Diya Was Kind, Loved Education

Former President, Dr. Goodluck Jonathan, and former Vice President, Atiku Abubakar, expressed sadness over the death of Diya, describing him as a committed patriot and courageous soldier.

Media assistant to Jonathan, Ikechukwu Eze, in a condolence message to the family, noted that Diya served the country diligently and fought for the unity of Nigeria, showing bravery and brilliance as a military leader.

He said he was as a kind-hearted and disciplined officer, well known for his loyalty to the country and love of fellow citizens.

The message added, “Diya devoted so much of his energy towards uniting Nigeria and showed exceptional brilliance while holding different command positions in the nation’s military leadership “He will be remembered for his efforts towards promoting peace and commitment to the progress and development of our nation.”

On his part, the PDP presidential candidate in the February 25 presidential election, Atiku, in his

condolence message, said, "My profound condolences to the family of Lt. Gen. Oladipo Diya on the passing of the illustrious son of Odogbolu, where he was born and from where he rose to be a remarkable part of Nigeria's history.

“His love for education saw him return to the university for his law degree, and his call to Bar at the time was an inspiration to many soldiers who came after him. I pray that God grants him rest and gives his family and friends the strength to go through this period."

Tinubu: He Played Stabilising Role in June 12 Crisis

President-elect Bola Tinubu commiserated with the family of Diya, saying the deceased officer lived a remarkable life and played a stabilising role in the June 12 crisis.

Tinubu, in a statement by Tunde Rahman, said, "The news of the death of General Oladipo Diya early this morning came to me as a shock. I send my heartfelt condolences and sympathy to his immediate family, especially his wives and children.

"General Diya lived a remarkable life of a soldier and made his mark in the military, where he served our country diligently. As military governor of Ogun State, in the various military positions he held till he rose to the enviable position of Chief of General Staff and second-in-command to the Head of State, he served meritoriously.

"As much as he could, he played a stabilising role during one of the most turbulent periods in our nation's life in the aftermath of June 12, 1993 presidential election. He will be remembered for his patriotism and service to the nation."

He Was a Seasoned, Admirable Officer, FEC Mourns

Secretary to the Government of the Federation, Mr Boss Mustapha,

on behalf of the Federal Executive Council (FEC), yesterday, mourned Diya, describing him as a seasoned and admirable officer of the Nigerian Army.

In a statement by Director, Information, Office of Secretary to the Government of the Federation, Willie Bassey, Mustapha said Diya was an experienced officer who showed excellent administrative capabilities in his various functions as Military Governor of Ogun State (1984 - 1985), Chief of Defence Staff, and Chief of General Staff (1993 - 1997); as well as a notable statesman who made invaluable contributions to nationbuilding.

The FEC condoled with the government and people of Ogun State, his family and friends, and prayed God to grant the soul of the deceased eternal rest.

Gbajabiamila Mourns, Recalls Diya's Commitment to Nation

Speaker of the House of Representatives, Femi Gbajabiamila, expressed sadness over the passing of Diya, even as he recalled his commitment and service to the country.

Gbajabiamila, in a condolence message, recalled Diya's commitment and service to Nigeria during his term in office as Chief of General Staff and in other capacities.

He prayed for the repose of the soul of Diya and that God should give his family, the people and government of Ogun State the fortitude to bear the loss.

Sanwo-Olu, George: It’s a Huge Loss, He Ran Good Race

Lagos State Governor, Mr. Babajide Sanwo-Olu, and the leader of the Peoples Democratic Party (PDP) in Lagos State, Chief Olabode George, mourned the passage of Diya.

Sanwo-Olu described Diya’s demise as a great loss to the country, and

George said he ran a worthy race.

Sanwo-Olu, in a condolence message by his Chief Press Secretary, Mr. Gboyega Akosile, described the late Diya, as a gallant soldier and elder statesman, who served the country meritoriously as a military officer, Governor of Ogun State, and Chief of General Staff.

Sanwo-Olu also commiserated with Ogun State Governor Dapo Abiodun and the entire people of the state, especially indigenes of Odogbolu, on the demise of their illustrious son.

The governor stated, “The death of Lt.-General Oladipo Diya is a colossal loss to the country. He made lots of positive impact and contribution during his lifetime to the growth and development of Nigeria, especially in the Nigeria Army.

"He fought, along with several other patriots tirelessly for a united Nigeria during his days in the Nigerian Army, especially during the civil war. He also held positions in the armed forces and rose to the position of Chief of General Staff, (de facto Vice President of Nigeria) under the late Head of State, General Sani Abacha.”

George stated in his message, "The Lord giveth and the Lord taketh away.

May God give him eternal rest and may his memory be a blessing to his family and friends.

"He ran his race to the best of his calling and we must leave the rest for the pages of history. Good night, sir, till the resurrection morning, when we shall meet to part no more. May the Angels sing you to your resting place. My deepest condolences to his family, especially Simi."

Uzodimma: Nigeria Just Lost Another Professional Soldier

Imo State Governor Hope Uzodimma described the passing of Diya as shocking and regrettable, saying the country just lost another professional soldier, whose experience garnered over many years, services

and advice, are badly needed in the country today.

A statement by Uzodimma’s Chief Press Secretary/Media Adviser, Oguwike Nwachuku, stated that the governor commiserated, not just with the Diya family and his Odogbolu community in Ogun State, where he impacted lives so much, but also the government and people of Ogun State, the Nigerian military and the federal government, over the loss.

Abiodun: His Contributions to Nigeria’s Security Indelible

Ogun State Governor Dapo Abiodun commiserated with the government and people of Nigeria, as well as the military, friends and associates of Diya, saying his contributions to the country's security architecture are indelible.

In a statement by his spokesman, Kunle Somorin, Abiodun described the departed army general as a seasoned administrator and gentleman whose role in the history of Ogun State will never be forgotten.

The governor stated regarding Diya, "He was courageous and daring, quick-witted and patriotic.

Gen. Diya played frontline roles in the evolution and development of the state and his activities in the military, in part, led to the eventual return and enthronement of democracy in the country In 1999.”

Olarenwaju: A Fine Soldier Has Passed On

Former Minister of Communication and military commander, Major General Tajudeen Adeniyi Olarenwaju, described the passing of Diya as national loss of a patriot, statesman, courageous officer and a fine gentleman.

Olanrenwaju, who was jailed together with Diya by their estranged boss, Abacha, following a phantom coup trial, but escaped death after the death of Abacha in 1998, extolled

the virtues of Diya as a principled military officer with high intellectual disposition.

"His legal knowledge coupled with vast military experience, made him to excel on many fronts as a no-nonsense field officer or office administrator," said Olarenwaju.

He expressed heartfelt condolences to Diya’s nuclear and extended families, colleagues and friends.

Okowa: Nigeria Still in Dire Need of His Wise Counsel

Governor of Delta State, Ifeanyi Okowa, commiserated with Ogun State Government, the Diya family of Odogbolu and the people of the state on the passing of Diya, saying he passed at a time the country still needed his wise counsel.

In a statement by his Chief Press Secretary, Mr Olisa Ifeajika, Okowa stated that the news of Diya’s death was saddening, especially as the country was currently in dire need of the wise counsels of well-meaning Nigerians, including the deceased.

Okowa, however, stated that the memories of the departed general would remain immortal, and urged Nigerians and the Yoruba race in particular, to remember him for his illustrious contributions to the unity of Nigeria and sanctity of its sovereignty.

The governor stated, “As Deltans, we are extremely proud of the outstanding contributions of Gen. Diya to the Nigerian Army, where he served in different capacities from 1964 to 1997, including as Vice Chairman, Provincial Ruling Council in 1994.

“He was also Military Governor of Ogun State from January, 1984 to August, 1985. Gen. Diya had an illustrious military career and served the nation with full dedication and commitment to duty. On behalf of my family, the government and people of Delta, I send my deepest condolences to the Diya family, the Yoruba nation and the people of Odogbolu where he hails from.”

24 T H I S D AY

MONDAY MARCH 27, 2023

Monday March 27, 2023 Vol 27.

No 10117

opinion@thisdaylive.com

www.thisdaylive.com

BOOSTING THE NATION’S DIGITAL ECONOMY The reappointment of Kashifu Abdullahi is a just reward, writes BASHIR IBRAHIM

See page 25

NATIONAL INTEREST, FOREIGN DIRECT INVESTMENT AND SEPLAT ENERGY Dan Aibangbe urges the disputing parties to settle their differences in the interest of the nation OKELLO OCULI pays tribute to Pele, Brazilian football legend

See page 25 EDITORIAL

RAMADAN KAREEM!

26

1

Ethnic profiling and violence are ingrained in our body politics, argues CHIDI ANSELM ODINKALU

THE FAUX APOLOGIA OF SEUN OSEWA On or around 20 March, 2023, two days after the ballot into the offices of state governors and state legislators which took place on 18 March, one Seun Osewa issued what he ostentatiously titled “An Apology to the Igbo People of Nigeria.” A 40-year-old graduate of one of Nigeria’s best universities, the Obafemi Awolowo University, in Ile-Ife, Osun State, Mr. Osewa is best known as the mind behind Nairaland, the rambunctious digital bulletin board where Nigerians trade all manner of things on the ether, from the sublime to the egregious.

Addressed to “the Igbo People”, the statement claimed to “sincerely apologize for allowing a toxic political banner advert which said ‘Lagos can never be run from Anambra; go and vote’ to run on Nairaland for several hours on Wednesday, March 15, 2023.” It described the advertisement as part of “an ethnically divisive political campaign aimed at securing Lagos State for the ruling party by instilling fear in Yoruba people, making them believe that Igbo people intended to ‘take over’ Lagos State.”

Mr. Osewa ultimately blamed the advert on the absence of “clear policy against accepting negative and ethnically divisive ads on Nairaland” before generously disclosing that having made N16,000 from the advert, he will “double it and donate it to victims of political violence in Lagos.”

It is not entirely clear what Mr. Osewa hoped to achieve with his “apology”. The response he got was anything but generous.

Journalist, Fisayo Soyombo, accused him of being among people who are “led by their pockets.” Techpreneur, Osaretin Asemota, dismissed the release as “performative nonsense”. Chibuzor Okoronkwo accused Mr. Osewa’s release of “putting more salt to the injury.”

Mr. Osewa’s apology hardly helped its author. First, it came from a place that hardly abjured collective punishment on grounds of immutable identity. Ethnic politics may be de rigeur but, in Nigeria, Igbos don’t have a right to vote; citizens do.

Those citizens come from any number of over 389 ethnicities and over 500 language groups. No ethnic group votes as a herd in Nigeria. Dozie Ikedife Jr. campaigned for Bola Tinubu just as Rinu Oduala supported Peter Obi. Second, Mr. Osewa clearly conflated ethnic identity with political opinion, ending up with a determinism that equates one with the other. It was immaterial the ruling APC had high level support from such people as the incumbent governors of Ebonyi and Imo States as well as past governors of Abia and Enugu States, all of them Igbo. The people who set out to suppress the votes of Igbos in Lagos did so by rejecting the political autonomy of the citizen requiring them manu militari to either renounce their ethnic identity or immolate their civic agency.

Third, Mr. Osewa appeared to assume that ethnic profiling can be attained with neat precision, which is far from the case because you sooner or later discover that many people look alike across lines of situational division. On the day of the

state level election in Lagos, Iyanuoluwa Bolarinwa, a name that is unlikely to make the bearer Igbo, reported that she was “told to go back to Anambra”, one of the Igbo States, before being “rough handled, beaten and sent out because I look Igbo? Because I was not going to vote APC?” Popular Youtuber, Sisi Yemmie, reported that party political heavies precluded her and her husband from voting because they were said to “look like Igbo people.” Mr. Osewa’s “apology to the Igbo people of Nigeria” did not extend to people like Sisi Yemmie or Iyanuoluwa, neither of whom is Igbo but both of whom suffered violence because of the kind of poison that he sold.

As if to add the salt of mirth to the injury and hurt from his advertisement, Mr. Osewa then promised to donate N32,000 to the “victims of political violence in Lagos.”

Impressively, this part of Mr. Osewa’s release is the only one addressed to “victims”, an implicit concession that the class of the injured may have gone beyond the ethnic identity group of his target. Yet, he seems to assume that the victims are a coherent group, organized with a bank account in this season of no cash, and that their injuries can be cured by unconcealed hubris from the authors of their civic liquidation.

On any of these metrics, Mr. Osewa was probably best advised not to have bothered to issue his release. Without it, many people may have been willing to overlook the advertisement on Nairaland. After this release, most people will have few doubts as to where to place him.

Mr. Osewa’s flippancy is characteristic of the people who instigated the ethnic violence and profiling or see themselves as benefiting from it. They want to turn the page as if nothing happened and quickly move on, summoning everyone along with dubious appeals to fatuous patriotism. Mr.

Osewa’s “apology to Igbo People” ended with him asking his readers to “NOT give up on Nigeria”, with the promise that “TOGETHER we will overcome.” The capital letters are original to him. It is not clear, however, where he gets his collective pronoun to voice a promise he’s not in a position to make.

Like Mr. Osewa, Lagos State Governor, Babajide Sanwo-Olu, basking in the afterglow of re-election, swiftly appealed to “a spirit of solidarity and togetherness that binds us as Lagosians.” His principal, Asiwaju Bola Ahmed Tinubu, claimed to be “pained by cases of ethnic slurs, which are capable of creating needless mis-characterisation reported in some locations.”

The victims, understandably, are slow to make haste. They must bury their dead, bind their wounds, immortalize their scars, re-discover dignity, and then wonder whether they belong to the country that invites them to healing and patriotism only when it is convenient. In the cycle of Nigeria’s elections, patriotism can have a shelf life of the 90 -minute duration of a football match involving the men’s national team. In any case, it must be furloughed in the year preceding elections.

The reality is no one ever moves on from this kind of violence. The perpetrators see benefit for themselves in the humiliations and exclusions that they can inflict, which come with munificent benefits in propinquity to power thereafter. Far from being humbled, their impunity emboldens them. The victims nurse their traumas, which many of their generations will inherit from them.

This is why election violence in Nigeria is chronic. As the Report of the Sheikh Lemu Presidential Panel on post-election violence (which remains classified) of 2011 makes clear, violence and ethnic profiling have “continually featured in almost all elections in Nigeria since the first election that was conducted in 1922. The temptation is to suggest that election violence is deeply embedded in the Nigerian political culture.”

This should make it obvious that ethnic profiling and accompanying violence of the sort that characterized these elections and necessitated Mr. Osewa’s faux apologia is not a fate for Nigeria. It is a centuryold choice. The divisions that sustain this pathology are so essential to the DNA of power and politics in Nigeria that those declared winners do not have any incentives to bring it to an end. The narrative of interethnic zero-sum game is profitable.

In strictly material terms, you can see their point. For Mr. Osewa, the cost is a promise to contribute N32,000 to a nonexistent fund or entity. In a country in which the citizens or politicians are ready to bring this nonsense to an end, Mr. Osewa will not have the courage to rub this salt into the injury that he propagated.

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

T H I S D AY

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MONDAY MARCH 27, 2023

The reappointment of Kashifu Abdullahi is a just reward, writes BASHIR IBRAHIM HASSAN

BOOSTING THE NATION’S DIGITAL ECONOMY

I

t’s not often that President Muhammadu Buhari goes out of his way to defend his decisions on appointments. However, he made an exception to this recently when he said a few words about Kashifu Inuwa Abdullahi, the Director General/CEO, National Information Technology Development Agency (NITDA).

In the process, he not only shared the objective criteria he considers in his decisions, but also helped the Agency tell its success stories.

In October 2022, according to the President, he directed the evaluation of some parastatals under the Ministry of Communications and Digital Economy. In his words, “The performance evaluation report submitted

to me shows outstanding performance of NITDA, in particular, on different areas of the mandate of the Agency. Based on the impressive performance of NITDA, I approved the re-appointment of Kashifu Inuwa Abdullahi as the Director-General for a second term in office, from 2023 to 2027.”

The achievements of NITDA under his leadership have been breath-taking, and evidently influenced Mr. President’s favourable disposition to his reappointment as its CEO. The Agency deployed 601 digital infrastructure, including Digital Economy Centres, e-learning facilities, desktop computers, laptops, iPads, IT Community Centres, IT Hubs and Innovation Parks across Nigeria. Furthermore, the Computer Emergency Response and Readiness Centre (CERRC) was remodelled and upgraded to enhance cybersecurity and protect Federal Public Institutions (FPIs) against intruders.

The CERRC has successfully handled over 50 hacking on government websites, 500+ phishing hacking and issued over 80 advisory notes to the public. Another significant infrastructural intervention was the National Public Key Infrastructure (PKI) deployment to enhance online safety on electronic platforms and secure electronic transactions. The Agency also launched the first digital Fabrication Laboratory (FabLab 1.0) in Nigeria to provide facilities for innovators to build digital products and enhance indigenous digital innovation.

Under Inuwa’s leadership, through the IT Projects Clearance process, the Agency has cleared 823 IT Projects of 336 Federal MDAs. This has resulted in a cost savings of 306 Billion for the federal government.

In 2021, the NITDA unveiled its Strategic Roadmap and Action Plan (SRAP 2021 – 2024), which is anchored on seven strategic pillars to support the achievement of the National Digital Economy Policy and Strategy (NDEPS) objectives. The ongoing implementation of the 64 strategic initiatives of SRAP has significantly contributed to the impact of ICT on the economy. In addition, the Agency’s strategic engagement with critical stakeholders in the ecosystem and implementation of the SRAP initiatives have made Nigeria the leading destination for Foreign Direct Investment (FDI) to startups in Africa, attracting about US$3.8billion which

constitutes about 35% of all FDI into African startups from 2019. The recent Digital Nigeria Conference, hosted by the Agency, validated the interest in the ecosystem, which attracted 18 international speakers and a cumulative attendance of over 7,000 participants.

Through the Agency’s implementation of strategic initiatives and interventions, many jobs were created for Nigerians. For instance, the Agency set up the Tech4COVID Committee, which developed strategies to cushion the effects of the COVID-19 pandemic. The initiative led to the retention of over 100,000 ICT jobs and created additional 30,000 jobs in the post-COVID-19 era. Similarly, the NDPR compliance drive created 7,680 jobs and a market valued at 1.2 billion. Furthermore, the implementation of the Agency’s National Adopted Village for Smart Agriculture (NAVSA) initiative has thus far engaged 900 farmers and created over 5,000 direct and indirect jobs.

The initiative targets the engagement of 10 million farmers across the agricultural value chain by 2030. The Agency developed the National Outsourcing Strategy to deliver one million jobs by 2025, contributing to the employment of 16,540 Nigerians. The Business Process Outsourcing market is estimated at US$286.8 million, as reported

by Africa Global Business Services (GBS).

To promote emerging technologies in Nigeria, the Agency established the National Centre for Artificial Intelligence and Robotics (NCAIR). The NCAIR has trained 1,250 youths across Nigeria on highend cutting-edge technologies. The Office for Nigerian Digital Innovation (ONDI) was created as a Special Purpose Vehicle (SPV) to help incubate ideas and develop an enabling environment for startups to thrive. Through the ONDI, the Agency supported 143 startups through; Facilitation of 50 million grant each to six startups’; Facilitation of US$15,000 each to three startups; Seed funding support to 12 startups; Sponsorship of 51 startups to GITEX global event, LEAP Tech Conference, Intra-African Trade Fair, and 40 Nigerian startups to local events; acceleration of 30 startups through the Bridge to MassChallenge (B2MC) Nigeria programme; incubation of 16 startups through the iHatch Incubation programme; training of 20 startups through the NorthEast Start-up Training (NEST) programme; training of 74 innovators to build viable tech businesses through the Technology Innovation and Entrepreneurship Support (TIES) Scheme; acceleration of three Nigerian startups through the NINJA, acceleration Programme in partnership with the Japan International Cooperation Agency (JICA); and training of 300 secondary school students on digital innovation and entrepreneurship.

In terms of digital talent development, NITDA has committed to the conduct of an IT Talent Gap Assessment among Nigeria’s youth population for tech talent acceleration and position Nigeria as a global IT Talent Factory. In line with the FG’s initiative on social investment, the Agency launched the one million software developer initiative, and thus far, 215,524 Nigerians have completed or are undergoing related capacity-building programmes. In addition, various multisectorial capacity-building programmes were launched to promote digital literacy, and 823,814 Nigerians have been trained so far.

Inuwa was first appointed to the NITDA helm in 2019 to lead the Agency towards achieving the goal of using ICT to digitalize the nation’s economy.

Bashir Ibrahim Hassan is a business and economy analyst based in Abuja

DAN AIBANGBE urges the disputing parties to settle their differences in the interest of the nation

NATIONAL INTEREST, FOREIGN DIRECT INVESTMENT AND SEPLAT ENERGY

I

n recent times, there appears a subtle ripple in corporate Nigeria when a set of shadowy elements pulled off a corporate coup, simply by trumping up charges against the person of the British CEO of Seplat Energy Plc, the biggest private sector giant in the Nigerian oil and gas sector. The coup was consummated through a twin salvo fired in rapid succession.

The first was via a petition to the Ministry of Internal Affairs, accusing the CEO, Mr Roger Thompson Brown, of disrespecting the person of the President of Nigeria in private conversations with his colleagues and nonpossession of expatriate documents! The second came via ex-parte motion that sought

to have the gentleman suspended from office pending the hearing of the substantive suit!

Although these were carefully masked in the image of ‘concerned’ stakeholders, a casual investigation would reveal that a former board member, who rather than play the game using the noble rules of the game of chess, would rather resort to something else.

Seplat Energy, in just over a decade of its establishment, is poised to become the biggest indigenous giant in the Nigeria Oil and Gas industry, when it concludes the acquisition and takeover of Mobil Producing Nigeria Unlimited from Exxon-Mobil Corporation.

Seplat is also listed on both the Nigerian Stock Exchange (NGX) and the London Stock Exchange (LSE). The company is held by both corporate investors (47%) and private investors (31%). The rest is held by institutions and hedge funds and an infinitesimal 2% by insiders. As such, it is clear the company is well structured in ownership and properly positioned as an international oil company, (IOC).

In August 2022, President Muhammadu Buhari gave approval in his capacity as Minister for Petroleum, for the USD1.28 billion acquisition of the shares of the retreating Mobil Producing Nigeria (a subsidiary of ExxonMobil Inc). At that time the President made it clear his approval was predicated on the need to promote Foreign Direct Investment in Nigeria, as a low hanging fruit of the recently consummated Petroleum Industry Act. The stakes are high as this is a trillion-naira corporation. No wonder the Board of Seplat deemed it necessary to pilot the affairs of the energy outfit at this time under the leadership of a thoroughbred veteran British CEO, who as a Chartered Accountant, is a stickler for due process and corporate governance.

It is no wonder then that such a man as R.T. Brown would soon cross the path of a few disgruntled elements, especially those who desire to exploit the company for personal gains and insider dealings.

Based upon findings and what the company has put out in the public domain, the conflict with Ministry of Internal Affairs that led to the temporary expulsion of Mr Brown emanated from the contrived petition by some individuals, whose purpose is yet to be fully ascertained. The ministry, in its official capacity

tried to ensure justice by inviting the accused to state his own side of the story, but those pushing it ensured the Seplat CEO did not get to see the invitations for enquiries from the ministry. Rather, they made the Ministry of Internal affairs believe Mr Brown was too arrogant to heed such invitations! They also stated he lacks the requisite CERPAC and other documentation required for his status in Nigeria – a claim which is completely untrue.

The barrage of flimsy, spurious allegations smacks of a hatchet job without any pretense to an intention to correct, rather the desire to execute a perceived corporate enemy. In the board game of chess (the closest gaming comparison to corporate maneuverings) this move order is tantamount to a check, the precursor to checkmate! For instance, he was accused of forcing staff to resign, but no single case of wrongful dismissal has been filed. Remember, the oil industry is highly unionized and can easily seek redress even outside the courts. He was accused of abusing the Nigerian President in his privacy! He was also accused of discriminatory human resources practices, including on retirement age. However, majority of the functional and departmental heads are Nigerians, including the HR head! He was accused of operating an Aberdeen Office! This is a trillion-naira company that needs to play on the international scene. If there were financial infractions, I belief there are plenty of controls and institutions to cater to that.

Another curious issue is that this man being accused of oppression and racism and intimidation of Nigerian staff, is not even fully present in the country as contained in another allegation, which stated that he is yet to relocate his family to Nigeria as contained in the terms of his employment. If this issue was real and of negative effect, how come the employers have not acted but other shadowy stakeholders are more concerned? Same people who are trying to paint him a monster!

For those who may be wondering, Mr Brown did not just join Seplat, but has been the Chief Financial Officer (CFO) of its UK Seplat Petroleum Development Company, before his elevation to CEO in 2020. The Scottish Chartered Accountant and Associate of the Association of National Accountants of Nigeria has paid his dues working in several multinationals such as Standard Bank Group, among others.

Now, having come to this sorry pass, I think the contending parties should all take a step back from the brink and reconsider their positions, using the prism of national interest. Mr Brown should approach the Ministry of Interior and Mr President (the Minister for Petroleum), reassuring the country of his comportment and ‘loyalty’. The minister should reappraise the exit order with the objective of fair hearing and justice, in view of the revelation that Mr Brown was actually prevented from responding to the ministry’s queries through some insiders’ subterfuge.

We must realize that the world is a global village and the information superhighway does not give room for hiding. The international investors are privy to every little move and react directly to such stimuli, where they perceive their investments are threatened by the shenanigans of both public officials as well as private cabals.

Aibangbe writes from Lagos

26 4

T H I S D AY

MONDAY MARCH 27, 2023

EDITORIAL

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

RAMADAN KAREEM! Restraint, perseverance and kindness should be practiced at all times

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does not incite Him nor wrath seize Him, nor do haste hile we congratulate Nigerian and recklessness move Him to rush to take revenge, Muslims on this holy season of although He is utterly capable of doing that.” There is Ramadan which commenced so much that Nigerians can learn from that. last Thursday, we feel obliged Ramadan is also about taking care of the less to highlight some evergreen privileged of our society, especially after the Central lessons of this great religious %DQN RI 1LJHULD·V &%1 1DLUD UHGHVLJQ SROLF\ ÀDVFR observance. “Ramadan is that has further pauperised millions of our compatriots. not only about abstention from eating and drinking, The message of Ramadan is simple to discern: When but it is a reminder to refrain from all kinds of evil human beings can rein in their impulse for selfand transgressions that harm humanity,” President JUDWLÀFDWLRQ DQG JUHHG\ DFFXPXODWLRQ RI ZHDOWK Muhammadu Buhari reminded adherents of Islam in individuals are more likely to make their society a his message last weekend. “Let us use this opportunity better place to live in, not only for themselves but also to put the best teachings of Islam into practice, such as for their neighbours. kindness and the love of Ramadan fasting is humanity.” traditionally a season of We share the sentiment When human beings can rein in their impulse for self-gratification and greedy self-exertion and spiritual expressed by the reward through physical president. The essence of accumulation of wealth, individuals are more likely to make their society a better deprivation, religious Ramadan is to expose the place to live in communion, and charitable faithful to their spiritual work. It is a joyful season roots while teaching when families and friends them that true humanity get together to celebrate life does not equate to mere T H I S D AY DQG PXWXDO ERQGV RI DͿHFWLRQ HVSHFLDOO\ ZKHQ WKH\ material possessions, passions, or physical cravings.

EDITOR SHAKA MOMODU wake up early to eat their pre-dawn meal called Suhoor, This, we believe, is the real meaning of sharing with, DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA and when they break their fast with a meal referred and caring for, the needy and the less privileged, and MANAGING DIRECTOR ENIOLA BELLO to as Iftar. Ramadan fast is also a leveller, as both the DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU sets Ramadan apart from other religious festivities. If CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI rich and poor are exposed to hunger and thirst at the this spiritual core of man is recognised, it could lead EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN same time without any exception. Thus, after such to a positive change in our perspective on life: there MANAGING EDITOR BOLAJI ADEBIYI self-denial, expectations are that the wealthy should would be no room for senseless materialism, greed, THE OMBUDSMAN KAYODE KOMOLAFE become more sympathetic to the plight of millions of and primitive accumulation of wealth. Rather, there their less fortunate compatriots. would be greater concern for the poor.

For Muslims, Ramadan is also a season of intense This year’s Ramadan is coming at a very trying T H I S D AY N E W S PA P E R S L I M I T E D prayer, supplication to God and seeking His blessings period for our country. On the political front, the nation EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA and protection for family, friends, country, and is increasingly being threatened by the manipulation GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, humanity. The faithful are expected to shun all vices RI DUWLÀFLDO GLͿHUHQFHV DIWHU D JHQHUDO HOHFWLRQ WKDW ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI during the holy month and to instead emphasise good DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, has left many feeling aggrieved. One of the great ANTHONY OGEDENGBE GHHGV FRPPXQLW\ VHUYLFH DQG EURWKHUO\ DͿHFWLRQ IRU teachings in Islam is forbearance and it is a virtue that DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI all mankind. The lessons of Ramadan should also is very much needed at a time like this in the life of SNR. ASSOCIATE DIRECTOR ERIC OJEH be carried beyond the season because goodness and RXU QDWLRQ 2QH RI WKH IRUHPRVW ,VODPLF VFKRODUV ,PăP ASSOCIATE DIRECTOR PATRICK EIMIUHI prayer are for all times, not just for one month in a year.

DO *KD]ăOĦ GHÀQHG $OODK·V 1DPH DO ɬDOĦP DV WKH 2QH CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO Ramadan Kareem to all our Muslim brothers and “who observes the disobedience of the rebellious and TO SEND EMAIL: first name.surname@thisdaylive.com sisters. notices the opposition to the command, yet anger

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 DOES THE PUBLIC TRIAL OF JUSTICE ARIWOOLA FAIR? Though the rumor of a clandestine rendezvous between the Chief Justice of Nigeria (CJN), Honourable Justice Olukayode Ariwoola and the president-elect, Asiwaju Bola Ahmed Tinubu, may have some mischievous intents or political undertones, it is pertinent that every progressive and patriotic Nigerian examines the rumor beyond the negative scope of interpretation. Conspicuously, the integrity of Nigeria’s judiciary has been undergoing some questionings prior to the unholy and political alliance accusation against the CJN. The integrity of Nigeria’s judiciary has just been tested through the allegation levelled against Justice Ariwoola. In this particular phrase of integrity test, it is visible to every progressive mind that Justice Ariwoola overcame the public trial through photospeak evidence released by some journalists and the lucid and a well detailed account of the CJN foreign trips given by the Supreme Court’s spokesperson.

Justice Ariwoola was tried and came out victo-

rious in the court of public opinion. It has been a longstanding tradition of the good people of Nigeria to prosecute public officers and give a conviction or acquittal verdict in the court of public opinion based on available information via circumstantial or concrete evidence. The members of the public who accepted the unfolded allegation against the CJN hook, line and sinker and wrongly convicted him could not be totally faulted on the basis of circumstantial evidence.

In the build-up to the just concluded general elections, Justice Ariwoola visited Rivers State for the commission of some judiciary projects. It was unfortunate that the CJN unconsciously dabbled in partisan politics in a dinner organized in his honour. The CJN publicly commended Engr. Seyi Makinde, the Executive Governor of Oyo State, for being a member of the factional group of the Peoples Democratic Party (PDP) five governors. The CJN also fell into the trap of unconscious political campaigns at the event.

In other developed nations, this singular gaffe of Justice Kayode Ariwoola is capable of generating intense national uproar which would lead to his forceful retirement. The gravity of the CJN partisan public conduct therefore justifies the public apprehension and hasty conclusion on the blatant fabrication against him. Rather than instilling fear in the mind of the public for spreading propaganda against the CJN, the members of the judiciary need to comport themselves in the international standards that boost public confidence. This is the only means to safeguard the heritage and sanctity of the judiciary.

In 2013, the Chief Justice of Sri Lanka, Shirani Bandaranayake, was unceremoniously dismissed from office. In 2014, the Maldivian executive arbitrarily removed Ahmed Faiz Hussain, the Chief Justice of the country from office despite that Article 154 of the Maldivian Constitution only empowers its

Judicial Service Commission to exercise such disciplinary powers. In 2022, President Saied of Tunisia unconstitutionally dissolved the country’s Supreme Judiciary Council.

None of the above-mentioned abuses of executive powers went unchallenged by the citizens of those nations. It was only in Nigeria where history repeated itself twice on the unceremonious removal of her Chief Justice and the public felt unperturbed. In 1975, the military regime of Gen. Murtala Muhammed sacked Chief Justice Taslim Elias from office and the Muhammadu Buhari-led administration removed Chief Walter Onnoghen from office in 2019. No amount of propaganda or political attacks would have sufficed or stood against any Nigeria’s CJN if the judicial institution truly reflects the will of the people.

Binzak Azeez, Newworth LLP (Legal Practitioners), Onikan, Lagos

T H I S D AY ˾ MONDAY, MARCH 27, 2023

27

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

M A R C H

S & P INDEX

2 4 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.55%

INDEX LEVEL

612.93%

1/4 TO DATE

-0.22%

N461.46/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

10.80%

1-DAY

0.30%

YEAR TO DATE

0.22%

*AS AT LAST FRIDAY

3-MONTH

11.65%

MONTH-TO-DATE

1.44%

Amid Naira Depreciation, Turnover at I&E FX Window Hits N9.46trn

Kayode Tokede On the back of the weakening of the naira, turnover trade at the Investors & Exporters Foreign Exchange (I&E FX) market increased to N9.46 trillion in the first two months of 2023, up by 14.25 per cent or N1.18 trillion from N8.28 trillion in prior first two months of 2022, according to a report by FMDQ Exchange Limited.

The breakdown revealed that turnover trade at I & E FX market in January 2023 stood at N4.79 trillion from N4.22 trillion in January 2022, and for February 2023, it gained N0.61 trillion to N4.67 trillion as against N4.06 trillion reported in February 2022.

The I&E FX window was created in 2017 by the Central Bank of Nigeria (CBN) and it is a market

trading segment for Investors, Exporters and End-users.

It allows foreign exchange trades to be made at exchange rates determined based on prevailing market circumstances, thus ensuring efficient and effective price discovery in the Nigerian foreign exchange market.

According to the FMDQ report, turnover trade at I & E FX window in 2023 dominated transactions, followed by CBN bills that comprises of Open Market Operations (OMO) and CBN Special Bills Analysis of the report showed that between January and February 2023, a total of N5.66 trillion traded by the CBN was traded on the FMDQ exchange.

Analysts have expressed that the introduction of RT 200 and

Naira-4-Dollar initiatives by CBN have improved transactions on the I & E FX window.

The RT 200 program aims to attain a goal of $200 million in foreign exchange repatriation from non-oil exports over the next 3-5 years.

The scheme rests on five key which are: non-oil export proceed repatriation rebate scheme; non-oil commodities expansion facility; dedicated non-oil export terminal; value-adding exports facility; biannual non-oil export summit.

Under this scheme, non-oil export proceeds sold to authorised dealers and banks (for third-party use through the investors and exporters window) will receive a rebate of N65 and N35 for every USD repatriated and sold into the I&E window for third party

use and for own use on eligible transactions only.

Commenting, the Head, Financial Institutions’ Ratings Agusto & Co, Mr. Ayokunle Olubunmi said, “RT 200 introduced by CBN has impacted on the turnover trade at I & E FX window. Most commercial banks have been encouraging traders and exporters to utilize the opportunities that comes with the RT 200 initiative.

“There is a lot of demand waiting for foreign exchange and we have seen them manifesting in the I & E FX window this year. Do not forget that between November and December of 2022, there was devaluation of Naira and some people wanted to take advantage.

“In addition, we also have some businesses that are earnings in Dollars but they also have

obligations in Naira and they are constraint to actually sell some of their dollars to get Naira. All these have impacted on the I & E FX market in the first two months of 2023.”

Also, the Chief Operating Officer of InvestData Consulting Limited, Mr. Ambrose Omordion, stated that the N9.46 trillion turnover trade at the I & E FX window is a reflection of increasing demand for foreign exchange and improvement in the global economy activities.

Omordion expressed that the domestic economy has witnessed more business activities in 2023 despite political uncertainties.

Despite increasing turnover trade at the I & E FX window, the Naira depreciated to N461.54 against the dollar in February 2023 from N416.32 reported in

February 2022.

Analysts at Emerging Africa in a report believed that there is a possibility of another devaluation of the Naira by the CBN in 2023 in order to enable the reflection of current economic realities.

They said, “We expect the trend of failing reserves to be sustained in 2023 on the back of the limited foreign investment inflows and increasing foreign exchange demand barring any major structural reforms in the Nigerian foreign exchange market. However, the possible removal of fuel subsidiary will improve the growth of the reserves and provide the CBN with resources to defend the Naira.”

The story continues online on www.thisdaylive.com

Insurance Sector Grows Assets to N2.33trn, Premium Hits N726.2bn Ebere Nwoji The National Insurance Commission (NAICOM), has announced that the insurance sector ‘s total assets grew to N2.33 trillion in the fourth quarter of 2022.

In a report on the sector ’ performance in the last quarter 2022, NAICOM said the sector

generated a total premium of N726.2 billion.

This represents 36.3 per cent growth quarter-on-quarter (QoQ) and 17.8 per cent year-on-year (YoY) in gross premium income According to the report, the assets figure represents positive growth that signifies

expansion at the rate of 2.4 per cent, QoQ and at 4.4 per cent YoY in the sector’s assets.

The report said the market size distribution in terms of the total assets of the sector stood at N1.22 trillion, while the non-life insurance businesses during the period stood at N1.12 trillion.

It also said the Non-Life business

as in the prior periods, continued its dominance, contributing about 57.4 per cent relative to the share of the Life business 42.6 per cent keeping about same position in prior period.

According to NAICOM, “The proportional significance of Life in the industry sustained a positive course in recent times reflective

of the consumer’s confidence and awareness. In-depth analysis of the Non-Life segment of market shows Oil & Gas business sustaining its market share dominance at 30.25 per cent increasing by 2.4 per cent compared to the previous quarter. The figure posted by Fire Insurance came a distant second (22.2 percent) maintaining same

pattern of contribution to the gross premium pool of the market while Motor Insurance (14.9 per cent) Marine & Aviation (12.2 per cent) General Accident (11.1 per cent) and Miscellaneous (9.5 per cent) followed in that order.”

The story continues online on www.thisdaylive.com

M A R K E T D ATA A S AT F R I D AY, M A R C H 2 4 , 2 0 2 3 BONDS DESCRIPTION Price ^14.20 14MAR-2024 ^13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

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

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

Yield

BILLS MATURITY

Discount

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

1.53

NTB 11May-23

2.70

1.54 1.83 2.43

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

Yield

2.72

-0.54 January 13, 2023

OTC F X F U T U R E S

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

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

Discount Yield

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

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MONDAY, MARCH 27, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

UK-Nigeria Tech Hub, Google Award $3m to Women Tech Founders

Emma Okonji

The UK-Nigeria Tech Hub, a pillar of the UK government’s broader Digital Access Program (DAP), has announced collaboration with Google for Startups Africa. As part of the collaboration, the two entities will award $3 million in Google Cloud credits to women founders in Nigeria.

The support will subsidise cloud technology-related costs for startups, allowing them to focus on innovation, customer acquisition and growth.

The joint effort by UK-Nigeria Tech Hub and Google for Startups Africa will help promote digital inclusion and jointly support technology businesses run by women founders. To commemorate International Women’s Day in March, the two organisations co-hosted an event in Lagos, bringing together women founders, investors, and

ecosystem stakeholders. The event aims to help women founders understand the technology funding landscape and position themselves to secure funding for their startups.

Country Director, UK-Nigeria Tech Hub, Justina Oha said, “We are thrilled to announce our collaboration with Google for Startups, which comes at a time when the world is celebrating International Women’s Day. This partnership is a testament to our commitment to supporting women founders and helping them reach their full potential. Partnerships like this are one of the great ways that stakeholders can come together to advance Nigeria’s tech ecosystem at an accelerated pace.”

Head of Startup Ecosystem Google Africa, Folarin Aiyegbusi, while speaking about the collaboration, said: “We are excited to partner with the UK-Nigeria Tech Hub to

empower women entrepreneurs in Nigeria. This collaboration is a unique opportunity to provide women founders with the support and resources they need to scale their businesses and contribute to the growth of Nigeria’s tech ecosystem.

At Google for Startups, we are committed to supporting startups and entrepreneurs around the world, and we believe that empowering women founders is key to building a more diverse and inclusive tech industry.”

The UK- Nigeria Tech Hub is an initiative by the UK government’s Department for Digital, Culture, Media, and Sports (DCMS) to support the growth of the Technology ecosystem in Nigeria by promoting sustainable and inclusive economic growth in the tech sector, leading to more trade and investment in the longer term.

Skymark Redeems N2.7bn Series 4 & 5 CPs under N5bn Programme Skymark Partners Limited has announced the maturity and successful redemption of its Series 4 & 5 Commercial Papers (CP) under its N5bn Commercial Paper Programme.

According to a statement, the N1.245 billion 270-day Series 4 Commercial Paper, which was issued and quoted in June 2022 on the FMDQ Securities Exchange, matured on March 17, 2023. The N1.467 billion 181-day Series 5 Commercial Paper which

was issued and quoted in September 2022 on the FMDQ Securities Exchange, matured on the 21st of March, 2023.

Commenting on the successful redemptions, Chairman of the company, Mr. Egie Akpata, FCCA, said, “We are pleased to have fully repaid all the investors in the Series 4 & 5 CP issuances.

We thank all the institutional investors for their participation and reiterate our commitment to be a counterparty that can

be counted on for the long term.

“This 4th and 5th CP redemptions reflect Skymark’s capacity to meet its financial obligations promptly, irrespective of market conditions. Our strong liquidity position and strong balance sheet ensures that we are always able to meet our maturity obligations. We intend to remain an active issuer in the commercial paper market.”

Foundation Tasks FG on FX Availability Gilbert Ekugbe Kirti’s Kare Foundation (KKF) has charged managers of the Nigerian economy to as a matter of urgency make foreign exchange available to both local and foreign manufacturers in the country.

The Founder, KKF, Kirti Sudhanshu, at the ribbon cutting ceremony and unveiling of KKF artificial limb center in Lagos, expressed concerns that the unavailability of foreign exchange is hindering the import of raw materials needed to produce artificial limbs for the underprivileged people in the society.

In her words: “The forex situation is worrisome because we still depend on import for some of our raw materials to produce these artificial limbs, but we are hopeful

and remain committed to providing humanitarian services to the less privileged people in the country.”

“About 70 per cent of the materials would be locally sourced while the remaining 30 per cent would be imported components. Each limb would be produced according to the measurement of patient which include both old and young people in the country,” she added.

“We are set up to changing the lives of people and we believe giving out artificial limbs will be the catalyst or change agent for someone. We are born to create a legacy. We have collaborations with government as well as foundations and India communities supporting our quest,” she added Earlier, the Founder Patron, KKF, Deodatta Gawankar, said the center would go a long way to put smiles

on the faces of the underprivileged and needy people in the society, stressing that the move would help those who have lost their limbs in accidents, diabetes, cancer or severe infection to get limbs free of charge.

According to him, the center is expected to be operational in May, 2023 while the donation of limbs would begin in June this year Gawankar added: “In the first year, we are planning to provide over 400 artificial limbs and each limb cost us about N100,000 for us as a foundation and we intend to give free of charge to the needy people.”

He however, called on the federal, state governments, private sector organisations and well-to-do individuals to join hands to support foundations aimed at supplying artificial limbs to Nigerians.

NBC Tasks Incoming Administration on Effective Water Management Gilbert Ekugbe The Nigerian Bottling Company (NBC) Ltd has charged the incoming administration to formulate policies aimed at sustaining the nation’s water resources, urging the federal and state governments to critically examine how development plans are impacting the country’s water bodies.

Reaffirming its commitment to water stewardship goals, NBC advocated for social responsibility towards water use in celebration of the 2023 World Water Day. To commemorate the event, the company organised a range of events across its plants in the country including community outreach initiatives, symposiums, and lectures aimed at raising awareness on the importance of water conservation.

As part of the celebration, NBC opened its doors to a selected group of journalists providing them with an exclusive tour of its state-of-the-art Lagos plant. During the visit, the media representatives received a comprehensive briefing on the company’s cutting-edge water treatment procedures.

The NBC’s Corporate Affairs and Sustainability Director, Ekuma Eze, discussed the company’s dedication to sustainable water management.

With the theme for World Water Day 2023 being “Accelerating change to solve the water and sanitation crisis,” he highlighted the company’s commitment to demonstrating its initiatives towards responsible water usage and educating the public on the importance of preserving water as a shared resource.

“We are aware that water is a vital ingredient in our products.

As a result, we are dedicated to using water in ways that are environmentally sustainable, and economically advantageous in the communities where we operate. In our facilities, we put ourselves to the test by setting too ambitious goals for how to cut the amount of water we use to make our beverages,” he said.

The National Environment Manager, NBC, Temitope Ogunrinde, added that the company was open to partnerships with the government and other stakeholders to ensure sustainable water supply.

In his words: “Water is an essential part of daily life, and it’s crucial to sustain the water supply to prevent water insecurity, particularly in high-risk areas.”

CPS: What You Should Know about Data Recapture Exercise The National Pension Commission (PenCom) has asked all Retirement Savings Account (RSA) holders to visit any branch of their Pension Fund Administrators (PFAs) to participate in the ongoing Data Recapture Exercise (DRE). The exercise, which commenced in August 2019, is for both active contributors and retirees whose data have not been recaptured.

The DRE was initiated to obtain RSA holders’ current, complete and accurate data.

The DRE complies with the Federal Government’s directive that all data-generating organisations should harmonise their databases with the National Identity PENCOM DG, Aisha Dahir-Umar Management Commission (NIMC).

Systems Limited and Afritech Multi Concept It is also consistent with the need for a credible database of Limited, to carry out the DRE consistent with all RSA holders in Nigeria. In that regard, PenCom’s approval. The agents are authorised PenCom designed, developed and deployed to establish data recapture centres. Therefore, an Enhanced Contributor Registration System RSA holders are allowed to have their data (ECRS), which has been integrated with recaptured at such centres by the agents (if the NIMC to authenticate the uniqueness they cannot visit the offices of their PFAs). of individuals seeking to register under the This arrangement has enhanced efficiency in Contributory Pension Scheme (CPS) and carrying out the exercise as it would allow an existing RSA holders who wish to update agent to recapture all RSA holders in the same organisation on behalf of all PFAs. The selected their records.

RSA holders in the public sector, private agents can also carry out NIN registrations sector organisations and retirees must seamlessly because of the partnership between participate in the data recapture exercise to PenCom and NIMC. It is imperative to state that PenCom has update their biodata and biometric (picture and signature) information. There are several directed all PFAs to issue Acknowledgement implications of not participating in the DRE. Slips to RSA holders who submit complete For instance, only RSA holders who have documents for their data recapture. The RSA completed their data recapture can transfer holders are notified via text messages of the their RSAs from the current PFA to another status of their data recapture (successful or not successful) within five working days of PFA consistent with PenCom’s approval.

Contributors who are yet to be recaptured submission of documents.

Active contributors should visit their PFAs cannot access retirement benefits at retirement to ensure that payments of retirement benefits and provide their Staff Identity Card or any are to the actual contributors. Furthermore, valid means of identification (National Driver’s temporary access to RSA for 25 percent of License, Permanent Voter’s Card or International the RSA balance in the case of job loss is Passport). In addition, they are to present only available for RSA holders that have their Enrollment Slip issued by NIMC and Birth Certificate or Sworn Affidavit of Age successfully recaptured their data.

RSA holders with multiple PINs that failed Declaration for the DRE. Retirees on programmed withdrawal or to recapture their data would face delays in resolving their situations. In addition, annuity should present any valid means having numerous PINs would lead to of identification (National Driver’s License incorrect remittances by employers and delay or Permanent Voter’s Card or International the payment of retirement benefits due to Passport), Enrollment Slip issued by NIMC and the need to reconcile the RSAs. Therefore, Letter of Retirement issued by the employer contributors with multiple RSA PINs must to the retiree for the DRE. Finally, RSA holders, who have changed present all their RSA PINs to their PFA at either their surnames or first names or both after the point of data recapture.

It is also important to point out that not registration, should present the following to participating in the DRE affects the ability of their PFA to be recaptured: Marriage Certificate RSA holders to update registration records in (only applicable in the case of marriage); Newspaper publication for change of the future. For instance, an RSA holder cannot make updates relating to a name change due name; and Sworn Affidavit and Confirmation Letter to marriage or a change of an employer or even a Next of Kin (NoK). Thus, it is in the for change of name from employer (if still interest of the RSA holder to participate in in employment).

PenCom remains committed to providing the DRE to avoid undue delays in accessing necessary support to the pension industry to services from PFAs. To fast-track the DRE, PenCom approved ensure the success of the DRE. For enquiries a proposal of the PFAs under their umbrella or complaints on the Data Recapture Exercise, body, the Pension Operators’ Association please get in touch with PenCom on the of Nigeria (PenOp), for an industry Shared following telephone numbers: 094603930, Service Initiative (SSI). Consequently, the 094603939 and 07066924512, or by e-mail: PFAs engaged two agents, Payone Solution dre.complaints@pencom.gov.ng.

T H I S D AY ˾ MONDAY, MARCH 27, 2023

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BUSINESSWORLD

STATUS REPORT

Nigerian Breweries Profit Plunges on FX Losses, OPEX

Kayode Tokede

W

ith higher costs in production influenced by double-dight inflationary environment, devaluation of the naira, and high-energy prices, Nigerian Breweries Plc reported decline in profit before tax in financial year ended December 31, 2022.

The multinational brewery marker reported a significant increase in revenue but the other financial parameters such as cost of sales, operating expenses and foreign exchange losses impacted the Group’s overall performance in the year under review.

Nigerian Breweries hits the highest revenue in 2022 financial year, driven by strong pricing to mitigate inflation and brand mix improvements.

The 2022 revenue growth was also supported by a strong performance of the premium portfolio, led by Tiger and Desperados, and the continued momentum of Heineken®, while the low and non-alcoholic portfolios remained broadly stable.

Nigerian Breweries reported N550.64 billion in revenue in 2022, representing an increase of 26 per cent from N437.29billion reported in 2021.

Cost of sales (CoS) moved to N337.31billion in 2022, an increase of 22 per cent from N276.87billion in 2021 to positioned gross profit at N213.33 billion in 2022 from N160.4billion in 2021.

The group’s CoS/Revenue stood at 61.3per cent in 2022 from 63.3per cent in 2021 and gross profit margin stood at 38.74 per cent in 2022 from 36.68 per cent in 2021.

Nigerian Breweries’s total operating expenses (OPEX) that comprise of selling & distribution expenses and administrative expenses closed the year under review at

N163.98billion, an increase of 31.6 per cent from N124.6billion reported in 2021.

The marketing-related costs accounting for 82.8per cent of the total OPEX. The persistent increase in operating expenses was driven by the challenging operating environment in Nigeria, and the brewer’s continuous focus on increasing brand visibility.

As a result, the group’s EBIT margin closed 2022 at 9.4 per cent from 9.5 per cent, while EBITDA margin stood at 16.6 per cent in 2022 from 18.9 per cent in 2021.

The Group reported that its net loss on foreign exchange transactions moved to N26.34billion in 2022 as against N7.04billion in 2021, and it is on the back of higher foreign exchange losses as exposure from its foreign currencydenominated payables.

Finance cost was at N8.42billion in 2022 from N11.07billion in 2021 bringing net finance cost at N34.42billion in 2022 from N17.79billion in 2021.

Net loss on foreign exchange transactions contributed 76.54per cent to net finance cost in 2022 as against 39.57 per cent in 2021.

Overall, the Nigerian Breweries recorded a profit before tax of N17.34 billion in 2022, a decline of 26.8per cent from N23.70 billion reported in 2021.

Following a tax expense of N4.15 billion in the period, profit after tax was higher at N13.19 billion from N12.67 billion reported in 2021.

The board of directors recommended the payment of a total dividend of N13.87 billion, which is N1.43kobo per ordinary share of 50k each to its shareholders.

It will be recalled that the company had earlier paid in October 2022, an

interim dividend of N3.29 billion which translated to 40k per share.

The payment of the final proposed dividend of N10.584 billion at N1.03k per share will be paid after its next Annual General Meeting billed to hold on April 26, 2023.

The group closed 2022 with Basic earnings per share of N1.58 per share as against N1.57 per share in 2021.

MOUNTING LOANS & BORROWINGS Nigerian Breweries in the year under review expanded its loans & borrowings which contributed to total liabilities.

The Group reported a total loan & advance of about N122.25 billion in 2022 from N27.99 billion in 2021.

The breakdown revealed that longterm loans and borrowings dropped to N2.42billion in 2022, a decline of 41 per cent from N4.1billion in 2021 as short-term loans & borrowings hits N119.82billion in 2022, an increase of 401.6 per cent from N23.89billion in 2021.

Nigerian Breweries last year accessed Commercial Paper, loans from government, and bank loans to finance its working capital.

In all, total assets closed 2022 at N619.89billion, representing an increase of 27.7per cent from N485.52billion in 2021. As current assets stood at N155.42billion in 2022, an increase of 29.3 per cent from N120.17billion in 2021, Non-current assets rose by 27.13per cent to N464.5billion in 2022 from N365.4billion in 2021.

Total liabilities recorded N439.97billion in 2022 from N313.61billion in 2021, driven by loans & borrowings and Trade and other payables.

In the year under review, Non-current liabilities closed at N32.27billion as against N41.08billion in corresponding year as current liabilities doubled at N407.7billion in 2022, an increase of 49.6 per cent from N272.53billion in 2021.

The group reported N264.09billion Trade and other payables in 2022 from NN226.42billion in 2021, contributing about 64.77per cent of Current liabilities in 20222 as against 83.08 per cent in 2021.

Nigerian Breweries closed 2022 with N179.9billion total equity as against N171.91billion in 2021, driven by N90.77billion retained earnings in 2022 from N90.09billion reported in 2021.

CONCLUSION The Company Secretary/Legal Director, Nigerian Breweries, Uaboi Agbebaku in a statement noted that the economic challenges experienced during the year under review had greatly affected consumer disposable income, but that the company showed great resilience, guided by its strong premium portfolio, brand mix improvements and strong pricing.

However, analysts at Cordros Research stated that, “We like that Nigerian Breweries continues to drive profitability with its pricing and premiumisation strategies, amid the pressure on margins, especially in Q4-22, underpinned by lower disposable income, high input costs, and naira devaluation.

“Going forward, we expect Nigerian Breweries’s profitability to remain satisfactory in 2023E, supported by solid revenue growth. However, we highlight that weak macroeconomic fundamentals, depressed consumer wallets, and elevated operating cost remains significant headwinds to volume growth and profitability. Our estimates are under review.”

CIBN Boss Urges Auditors to Embrace Emerging Technologies, Enhance Risk Management Nume Ekeghe The President/Chairman of Council, the Chartered Institute of Bankers of Nigeria (CIBN), Mr Ken Opara has urged auditors of banks to embrace technology and adopt understanding of risk management in a bid to attract

Millennials and Gen”Z into auditing profession.

Opara made this call in his keynote address at the 2023 Annual Retreat of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) in Lagos recently where stakeholders gathered to discuss “Keeping up with the

NextGen in Internal Audit”.

He noted that with the increasing use of data analytics, artificial intelligence, and automation tools, internal audit professionals must be able to utilise these tools to identify risks and essentially add value to their respective organisations.

He said: “Technologies like artificial intelligence, robotic process automation, and blockchain are rapidly transforming the business landscape. Internal auditors need to be familiar with these technologies and understand how they can be used to improve audit efficiency and

effectiveness. They should be able to analyze large amounts of data, identify patterns and trends, and use data for robust reporting and decision-making.”

Also, he added that Internal auditors need to be agile and able to adapt quickly to changing business needs.

Furthermore, he added that

the internal audit function must have a continuous learning culture. It is important for internal auditors to attend training and developmental programs. As the business landscape is changing digitally and, in all ramifications, the NextGen Auditor must be ahead of the development. This

institutional shareholders of Seplat pointed out that Omiyi and Okeahalam had exceeded their tenure and called for their resignation. We also have it on good authority that while some major stakeholders kicked against Mr. Omiyi’s choice as the company’s secretary, having done his maximum of nine year, it was later agreed that he serves for one year to enable the company conclude

the search for the replacement of Dr. ABC Orjiako, who stepped down recently. Today, he is in his tenth year and still wants to carry on even when Section 12.10 of the Nigerian Code of Corporate Governance specifically prescribes that the tenure for Independent Non-Executive Directors (INEDs) should not exceed three terms of three years each, “the group stated.

CSO Blames Seplat’s Crisis on Omiyi’s Sit-tight Syndrome Peter Uzoho A civil society and good governance advocacy group, Make a Difference Initiative (MADI), has traced the crises currently rocking Seplat Energy PLC to the alleged refusal of the Chairman of the Board of Directors of the company, Mr. Basil Omiyi, to honour the provisions of the Nigerian Code of Corporate Governance on the

tenure of Directors and step down.

MADI also asked the Federal Government to thoroughly investigate claims made by aggrieved Nigerian employees of Seplat that Roger Brown and some interests in the company were plotting to acquire the company through the Capital Market, using some South African fronts.

These were contained in a press

statement issued by the Executive Director of MADI, Lemmy Ughegbe in Abuja, wherein he raised concerns about alleged efforts by Seplat leadership to coerce its Nigerian employees into passing a vote of confidence in the CEO, Roger Brown, and the Board Chairman, Basil Omiyi.

The group said that whereas Section 12 (10) of the Code

clearly states that “the tenure for Independent Non-Executive Directors should not exceed three terms of three years each”, Mr. Omiyi and another Board Member, Charles Okeahalam, have refused to resign despite overstaying their maximum of nine years allowed by the said Code.

“Grapevine has it that in a letter dated 30th January 2023,

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MONDAY, MARCH 27, 2023 ˾ T H I S D AY

BUSINESSWORLD

PERSPECTIVE

NLC Picketing of CBN Headquarters, Branches

Olufemi Awoyemi

“T

he fiercest and most accomplished military generals are those that win wars without firing weapons because ultimately all battles end up at the negotiation table.

The clever way to deal with differences is by jawing rather than waring. My view is that the NLC should make use of the comfort of time and the convenience of conversation rather than the bruising pain of picketing’’

BACKGROUND Against the background of the continued cash scarcity across the country, the Nigeria Labour Congress (NLC) announced plans to picket all Central Bank of Nigeria (CBN) offices nationwide on March 29, 2023. This comes after a seven-day NLC ultimatum to the Federal Government to increase cash in circulation (CIC). The ultimatum expired on March 20, 2023.

THE NIGERIAN ECONOMY IN Q1 2023 Q1 2023 has been characterised by deepening economic uncertainty reflected in the reduction in GDP growth estimates for the quarter. The decline in PMI from 53.5% in January to 44.7% in February 2023 (the lowest PMI in over a decade) is indicative of the brewing economic challenges.

Q1’ 2023 will feature slow growth and high inflation. The consequence of this is r MPXFS EPNFTUJD SFBM EJTQPTBCMF JODPNF and consumption, r IJHIFS EPNFTUJD VOFNQMPZNFOU SBUF BOE r B IJHIFS NJTFSZ JOEFY The first quarter will be tough but not definitive of the full year. Not all the problems in Q1’ 2023 were monetary, other domestic fiscal and international socioeconomic headwinds spilling from Q4 2022 worsened the fragile nature of the Q1 2023 economy).

FALL OUTS OF THE CURRENCY REDESIGN POLICY The impact of the currency redesign and mop-up policy of the CBN has led to a severe contraction of economic activities. r $VSSFODZ JO DJSDVMBUJPO EFDMJOFE CZ / USO between December 2022 and January 2023

r $VSSFODZ PVUTJEF PG UIF #BOL EFDMJOFE

by N1.78trn over the same period. r 4 1 1.* TMVNQFE UP JO 'FCSVBSZ down from 53.5 in January 2023, showing a severe contraction in private sector manufacturing output r 5IF SFBM (%1 GPSFDBTU GPS 2 has fallen from 3% at the beginning of the year to a forecast of less than 1% as of the third week in March 2023.

the currency needs of their customers.

Can Nigeria Afford NLS’s Picketing?

There is never an ideal time to protest.

The issue is therefore not about labour protest affordability as it is whether Nigeria can avoid disruption and stay focused on building a resilient economy with lower inflation rates and faster-paced growth.

Labour disruption is an event, appropriate monetary policy creates a trend. Trends are more enduring and Are We Near Resolving the Issues important. The new Naira note issue will Surrounding the New Naira Notes be resolved as the government prints and Debacle?

The new naira note exercise requires circulates more new notes and allows slightly more patience. Nigeria, like old notes to remain legal tender to the other global economies, cannot be totally end of the year. People tend to muddle a cashless. That assumption would receive human behaviour moderation exercise for validation only in a B-rated Hollywood a monetary policy exercise. The currency movie. However, we will be increasingly note redesign and currency withdrawal less cash-dependent. Countries that are (confiscation) does not change the total heavily dependent on digital transactions money supply; it simply creates a realso have large retail credit activities and composition, when what was needed require digital footprints that enable was a redenomination.

The NLC needs to allow the CBN to assessment of credit risk.

Nigeria does not have a large retail credit continue with its efforts at increasing the economy and so digital payments and volume of new notes printed as it increases settlements are understandably smaller the number of old notes in circulation than more advanced western economies. which would be withdrawn gradually Nevertheless, by increasing cash supply and till December 2023. It is neither an ideal using moral suasion and price incentives nor a thought-led situation, but it’s the to change habits of consumers, Nigeria more pragmatic option; even while the should see larger digital transactions, not new administration decides on how to a ‘cash-less’ society, as sold to the public. address the substantive conundrum the CBN inflicted on the economy. The next few months should see a rise in the number The Things Analysts Believe the of old notes which would be withdrawn CBN Needs to do Differently r 5IF $#/ OFFET UP JODSFBTF UIF RVBOUJUZ as the number of new notes in circulation of currency in circulation (CIC) because increases, relative to supply.

While speaking at the briefing after Nigeria’s CIC as a proportion of the total money supply (M1 and M2) is Tuesday’s Monetary Policy Meeting, acceptable by global standards. For the Central Bank Governor alluded to instance, the ratio of currency to the the fact that the regulator was closely money supply in India is 12.9%, in monitoring the situation with the Canada 9.4%, in the Eurozone 9.9%, circulation of cash and that it would while in Nigeria it was 5.8% before make the needed adjustment to currency the currency withdrawal programme. volume in line with optimal transaction r 5IF $#/ NVTU CF USBOTQBSFOU BCPVU UIF needs of the economy. He observed that capacity of the printing and minting the regulatory bank was concerned about company to produce the amount of the difficulty experienced by Nigerians currency required for transaction due to the cash squeeze. He, however, noted that it was a priority of the CBN purposes. r 5IF $#/ OFFET UP XPSL XJUI SFUBJM to ensure that the volume of cash outside commercial banks and step-up the banking system did not revert to supervision to ensure that banks meet previous numbers.

REASONS WHY THE CBN OFFICES SHOULD NOT BE PICKETED BY THE NLC The NLC’s planned picketing of the CBN could have a negative impact on the financial system’s stability and create the wrong foreign perception of the underlying resilience of the sector and economy.

4PNF PG UIF QPUFOUJBM OFHBUJWF JNQBDUT PG picketing the regulator include, but are not limited to: r -PTT PG DPOàEFODF JO UIF $#/ r /FHBUJWF JNQBDU PO DSFEJU SBUJOH r 1PMJUJDBM JOTUBCJMJUZ BOE r %JTSVQUJPO PG $FOUSBM #BOL T PQFSBUJPOT Alternatives to Picketing the CBN I. Dialogue: The NLC should dialogue with the CBN, wherein the NLC confirms or establishes the willingness of the CBN to produce more notes.

II. The NLC should work at eliciting commitment from the CBN as to its plans for reflating CIC to specified levels.

III. Joint Monthly Reviews to ascertain the impact of CIC adjustments Whats Involved In doing a Currency Makeover in an Economy Structured Like Nigeria?

The currency makeover is a behavioural modification programme to reduce the cost of cash management in the financial system and to improve transactional transparency.

There should not be a mountain in place of a mole hill. Nigeria will for some time be cash EPNJOBOU JO UIF BSFBT PG 4.& USBOTBDUJPOT but over time digital transactions to cash would increase and this would be natural rather than forced.

The Supreme Courts’ December 2023 Deadline and the Realism Test?

This is a good milestone that allows for a ramp-up and moderation of dislocations caused by the dismal roll-out of the redesign policy. There is no reason why we cannot tidy up the cash stable by December 2023, if only to stabilize activities. Really, only the eyes of a child fear a painted devil.

We have enough time to establish the equilibrium cash required to ensure stable market transactions without going back to the bad old days of cash kept in septic tanks, overhead water tanks and all kinds of contrivances.

T H I S D AY ˾ MONDAY, MARCH 27, 2023

BUSINESSWORLD

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NEWS

Pantami: Nigeria Recorded 3.9m Cyberattacks Before, During, After Guber Elections Emma Okonji The Minister of Communications and Digital Economy, Dr. Isa brahim Pantami, has drawn the attention of the digital economy stakeholders and the general public to the ministry’s activities before, during, and after the 2023 gubernatorial and state assembly elections.

Pantami said the committee, which he inaugurated to monitor Nigeria’s cyberspace, recorded a total of 3,834,244 attacks, originating from both within and outside Nigeria, before, during and after the gubernatorial and State Houses of Assembly elections across the country.

According to a statement released recently by the Ministry of Communications and Digital Economy and signed by the Senior

Technical Assistant (Research and Development) to the Minister, Dr. Femi Adelusi, the daily breakdown of the attacks showed that on Friday 17th March, 2023, there were 1,046,896 cyberattacks; On Saturday 18th March, 2023, there were 1,481,847 Cyberattacks; On Sunday 19th March, 2023, there were 327,718 Cyberattacks and on Monday 20th March, 2023, there were 977,783 Cyberattacks.

The statement further said the activities of cyberthreat actors on the Nigerian cyberspace during the Gubernatorial and State Assembly elections, we’re much lower than those during the Presidential and National Assembly elections.

“This is neither surprising nor unexpected as, Nigeria being Africa’s largest democracy, the Presidential

and National Assembly elections are bound to attract much attention of everyone, including cyberthreat actors, than during the Gubernatorial and State Assembly elections.

The Minister is confident that the implementation of some recommendations as well as measures taken to fortify our cyber defence mechanisms might have helped in this,” the statement further said.

Pantami reiterated that the attainments would not have been possible without the continued support of President Muhammadu Buhari, in particular, and the administration in general, towards ensuring Nigeria’s successful transition into the digital economy.

“The digital economy sector has enjoyed Mr President’s unprecedented support and it is highly appreciated,” Pantami said.

‘We Want to Use Odogwu Bitters to Export Nigerian Culture’ Ugo Aliogo The Chairman of Cubana Trading and Investment Limited, Obinna Iyiegbu, fondly called Obi Cubana, has expressed the desire of the company to export Nigeria culture to the world and rewrite the negative narrative about the country through the global sales and distribution of its prime alcoholic drink Odogwu bitters.

Iyiegbu who stated this in Lagos during the company’s

first anniversary, said the premium alcoholic drink had been a tremendous success due to the efforts of their innovative and creative team.

He added that they have been able to deliver value to their customers and clients, and the positive feedback they have received has been overwhelming.

He said, “It is a pleasure to stand here today, celebrating our company’s first anniversary, Cubana Trading and Investment Limited. I remember vividly

when we started, filled with enthusiasm and an unwavering determination to succeed. We had a vision, a dream, and a passion for excellence that has propelled us to where we are today.

“When we started, we faced several challenges that tested our resilience and commitment to our goals. However, we never gave up; we kept pushing forward, learning from our mistakes, and adjusting our strategies until we finally found a formula for success.”

An Open Letter to His Excellency Bola Ahmed Tinubu President-elect of The Federal Republic of Nigeria Through: President of the Senate of Nigeria Speaker of the House of Representatives of Nigeria Your Excellency, Every day, we the average citizens of Nigeria, both at home and abroad, feel so pained, afraid, and restless as we see the rising violent crimes in Nigeria and the endless suffering of average income-earning Nigerians, especially civilians, the police, and the military.

With you now in power, we can confidently solve all these problems—and quickly—by ensuring that every jobless Nigerian gets access to decent meals every day along with standard accommodations and that all single mothers with children under the age of 18 are given priority.

With your brilliant campaign manifesto, experience in governance, and capability in building nation-building teams, you can be the first and/or only non-military Muammar Al-Gaddafi of Nigeria that would within a mere five years transform Nigeria into the Libya of the lifetime of Gaddafi by: 1. Creating a social security administration with unfailing results that will enable us to provide financial assistance and food stamps to the unemployed and disabled while setting up and replenishing food banks throughout Nigeria. This social security contributory system would make us independent of Nigeria’s federal revenues so long as it is federal law, such as is done in Western nations, with 25% (UK) to 35% (US) of all sought gross earnings going to the government for such programs. Every single employee, employer, and business owner in Nigeria earning above minimum wage must commence making a lifetime monthly contribution of 20% of their net earnings to the government. The goal is to ensure the spreading of wealth and the provision of free medical care to all while also preventing crime. There’s no excuse to avoid such contributions.

Half of the funds collected from the working public would be allocated to an integral part of any Nigeria government department or a new nondepartmental public body of the Nigeria’s Ministry of Health (as practiced in the UK, in particular) to successfully provide free quality medical care to every single Nigerian citizen, whether born or naturalized, who is not subject to immigration control. The other half of the funds would pass through the Ministry of Labor and Productivity to facilitate social service departments’ payments of monthly allowances to the unemployed above the age of 17, housing for the homeless above the age of 25, and replenishment to food banks to enable lifetime relief from poverty—which is and has always been the backbone of crimes that make us feel insecure and force efforts to attract affluent foreign investors to fight an uphill battle.

Not only would this new system elevate the image of Nigeria with the highest respect globally, but it would also eliminate the resentment Nigerians continue to nurse against politicians, thereby preventing many of our citizens from causing international embarrassment due to their involvement in international transgressions.

2. Create a transparent extra-revenue generation ministry for the Nigerian Police, which has been undeniably underfunded for more than 30 years. This ministry should create platforms to help all police departments in Nigeria take advantage of the opportunities on the ground within their jurisdictions to officially generate billions of naira weekly for their state commissioners by dealing with minor offenders on the streets. Such efforts would boost their take-home earnings by 3 times with allowances from these independently generated funds and replenish their closet with new uniforms and kits so as to all look presentable before Nigerians and foreigners both in person and in photographs and videos that appear on international platforms.

3. All major Nigerian prisons should be leased out on renewable or transferable 5-year contracts to capable security companies to generate billions of naira in revenues for the government from chain gang operations servicing the agriculture sectors and construction industries.

4. Introduce a road tax and enforce compulsory annual payments according to vehicle size directly to FRSC, which would also be empowered to award contacts for new road construction and year-round maintenance.

5. Accept and make massive investment in the proposals of direct community electrification nationwide so as to provide every Nigerian home and industry with uninterrupted power before the end of your second term in office—a fast move that cannot be achieved within the expected time period through the national grid.

I feel strongly optimistic about this new administration dedicating the time and effort to making these efforts a reality.

Sunny Ache sunnysunny555@yahoo.co.uk

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MONDAY, MARCH 27, 2023 ˾ T H I S D AY

HOMES&DESIGN

Dan and Dan Rocks Banana Island Dan and Dan by The Address Homes is a stunning high-rise property at the Water View Banana Island Road in Ikoyi, Lagos. Dan and Dan stands out nicely because of the interplay of luxury and aesthetics. Bennett Oghifo writes

T

he Address Homes rendered Dan and Dan, a high-rise property in Banana Island, Ikoyi, Lagos, to stand out because they understand the importance of finishing, which represents luxury and aesthetics.

“That’s why we are keen on delivering Affordable Quality Homes,” the firm stated.

The interesting features infused in Dan and Dan are a communal swimming pool; 24-hour power; security personnel; CCTV; water-view penthouse; kitchen; gym; elevator; and

cinema. Besides the penthouse, there are maisonettes; and terrace houses.

Address Homes Limited is a leading real estate company engaged in acquiring, developing and managing luxurious contemporary homes across Nigeria.

The Address Homes said it is set to change the face of Real Estate development in Nigeria by delivering homes that combine high-class, contemporary architectural design with high-

level finishes.

“Our homes are highly diversified with respect to design and styles.

From inception, we at The Address Homes have made it our policy to build the best homes at the most economical prices throughout Nigeria, thus delivering optimum value for money,” the firm noted.

It added, “A visit to any of The Address Homes Banana Island, IKoyi, Lekki, etc., will reveal our consistent passion for delivering exceptional homes with high-class finishing.”

This strategy, coupled with “our unwavering reliability and dedication to quality, custom-tailored homes, has made The Address Homes one of the highly respected companies” in the property development business, said the company.

“We evolve concepts that take account of each customer’s taste, budget, time frame, market environment and the opportunities available,” it explained.

“We take a pragmatic approach to solving problems, prioritising our customers’ specific needs in the area of real estate.”

T H I S D AY ˾ MONDAY, MARCH 27, 2023

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BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

Many Benefits of CBN’s Cash-less Policy Obinna Chima writes that the cash-less policy will contribute in the drive to formalise economic activities and reduce drastically the prevalence of cash in the economy, which has been established fuels corruption

O

ne issue that has generated a lot of controversies in the country in the past few months is the Central Bank of Nigeria’s (CBN) drive towards a cash-less economy.

The initiative, which was followed by the redesigning of the naira arguably remains a topical issue in the country because of the poor response of commercial banks to the initiative as complaints of transaction failures became prevalent.

The central bank had in October last year, announced its decision to redesign the N200, N500 and N1,000 denominations, and the subsequent announcements including the cash withdrawal limit – have continued to generate controversies.

The Supreme Court has since ruled that the old notes remain legal tender till the end of this year. This was as a result of tension mounted by some politicians who had alleged that the policies were targeted at them. Contrary to the insinuation, the cash-less and naira redesign policies are positive policies with overall benefits for the economy, especially as initiatives to manage excess liquidity in the economy, among others.

Although the process to reduce cash usage in the economy commenced in 2012, the implementation was delayed by the central bank to ensure that the industry develops the capacity to serve customers effectively.

Owing to this, there were five reversals in the bank’s attempt to go cashless and promote financial inclusion since 2014.

The reversals were born out of the need to deepen the country’s payment system infrastructure.

Nevertheless, the benefits of going cash-less are numerous and remains the best option for any country as has been seen globally.

For instance, if the country must address the current gale of insecurity, corruption and economic sabotage among other actions of some privileged elites who continued to take advantage of a dysfunctional system to short-changed the country, it must embrace evolve to a cash-less society.

It is also necessary in the fight against inflation in Nigeria, which has stubbornly remained at double-digits. Also, the cash-less policy has led to a reduction in banditry and kidnappings which were rampant in the recent past.

By going cash-less, people can easily pay their bills online, shop and schedule transactions and manage all the finances using their laptops or smartphones.

Going cash-less not only eases one’s life but also helps authenticate and formalise the transactions that are done. This helps to curb corruption and the flow of black money which results in an increase of economic growth.

Also, the cost of printing and transportation of notes would be reduced.

According to the World Economic Forum (WEF), adopting cash-less eliminates the middleman and close the financial inclusion gap.

“A cash-less society – along with the transformation of the last mile of money transfers, payments and banking services – will help to close the financial inclusion gap. It is a tool to fight corruption. Cash-less technologies could be some of our greatest assets in the fight against corruption and organised crime, too.

“And, once again, the people who stand to benefit most are those who are most in need. There are 1.4 billion people in the world who have to make do with

Emefiele

less than $1.25 a day.

“At the same time, around $1.26 trillion is effectively stolen from developing countries, due to corruption, bribery, theft and tax evasion. If we could reclaim that money for those countries, we could lift those 1.4 billion people above the poverty threshold and keep them there for at least six years.

“If everyone were connected to an end-to-end e-payment infrastructure – a cashless environment – there would be transparency in money flows.

Whether it’s international aid or private investment, if everyone in the chain were connected digitally, you could see where the money went and how it was spent,” the WEF stated in a report.

On the other hand, the redesigning of the naira was to help ease risk of currency counterfeiting evidenced by several security reports and the increased risk to financial stability as well as the worsening shortage of clean and fit currency, with the attendant negative perception of the central bank.

Also, there was significant hoarding of naira notes by members of the public, with statistics showing that over 80 per cent of the currency in circulation was outside the vaults of the commercial banks.

The CBN Governor, Mr. Godwin Emefiele, had revealed that as of September 2022, a total of N3.2 trillion was in circulation, of which N2.73 trillion was outside the vaults of the banks, describing the development as unacceptable as this has the potential to harm monetary policy actions, further leading to higher inflation and currency speculation, thereby exposing vulnerable Nigerians to further economic hardship.

Notwithstanding the antagonism against the CBN’s cashless policy direction, analysts have thrown their weight behind the move, noting that the decision to limit cash withdrawal limits to individuals and corporate organisations following the currency redesign programme was the right way to go if the country must move forward.

They said the policy would positively enhance the monetary and fiscal space as well as improve the profitability of the banking sector.

The analysts, however, cautioned that the slow adoption of e-banking, the rise in cybercrime coupled with an election year, and other macroeconomic factors could slow the benefits of the policy.

No doubt, beyond the immediate benefits of the CBN’s cash-less policy and currency redesign, which includes countering terrorism, and managing money supply among others, the initiative would also ensure that going forward, social intervention programmes that are targeted towards poor Nigerians achieve their desired objectives.

This is partly because going cash-less would ensure that such funds can easily be tracked and monitored and this will further provide for greater transparency and accountability by those who administer the resources.

Also, though the security agencies have been on top of their game in recent times tackling insecurity across the country, nonetheless, the cash-less policy initiative of the central bank has helped to reduce the incidence of kidnapping and banditry as a result of the restrictions placed on cash withdrawals.

As a result of the illicit monies held

by politicians and public officers in the homes, and outside the banking system, the economy and Nigerians, in general, have had to pay a huge price – high inflation, exchange rate crisis, distortion of monetary policy, and unemployment among others.

Interestingly, such illicit monies have been used to further suppress the political system through vote-buying during an election.

This subversion constantly allowed incompetent leaders to ascend to power and further compromise the system. It was definitely time to act.

Furthermore, a cash-less policy will ensure that people reduce the amount of cash they carry about.

Only recently, in line with the cash-less policy, the Nigerian Financial Intelligence Unit (NFIU) unveiled new guidelines aimed at mitigating money laundering, terrorist financing, and proliferation of weapons among others.

The provisions of the framework also prohibit cash withdrawal from public accounts and ban the payment of estacodes and overseas allowances to civil and public servants in cash – in an apparent drive to complement the recent efforts by the CBN to tackle terrorism-related financing as well as promote a cashless economy.

The Enforcement, Guidelines, and Policies for Mitigation of Money Laundering, Terrorist Financing, Proliferation of Weapons and Prevention of Predicate Crimes which became effective on March 1, 2023, restricts cash payments of a sum exceeding N5 million (or its equivalent) for individuals, and N10 million or its equivalent for a body corporate. Section 19 of the MLPPA, 2022 imposes a fine of at least N10 million or imprisonment for a term of at least three years (or both), in the case of individuals; and a fine of N25 million in the case of a body corporate.

Section 26 of POCA, 2022 makes provision for the seizure and detention of cash over the prescribed amount under the law.”

The framework allowed for the discontinuation of cash withdrawal in Naira and foreign denominations from public accounts at federal, state, and local government levels were in compliance with its statutory responsibility under Section 3(1) a - s and Section 23 (2) a of the NFIU Act, 2018, and other provisions under the MLPPA, 2022.

According to the NFIU, “Civil servants are becoming more and more vulnerable to money laundering and its predicate offences due to their exposure to cash withdrawals from public accounts”.

An analysis spanning 2015 to 2022, showed that the federal government, states, and local governments withdrew N225.72 billion, N701.54 billion, and N156.76 billion respectively – all in cash.

According to the NFIU chief executive, “The cash withdrawals directly contravene the provisions of the MLPPA, 2022 and the Proceeds of Crime (Recovery and Management) Act, 2022 (POCA, 2022) which provide the legal framework setting limitations on cash transactions and sanctions for infringement of the provisions.

“We support the CBN circular on cash withdrawal limit which is in harmony with the law, provided in Section 2 of MLPPA, 2022. This guideline will support the efforts of the CBN.” Therefore, it is expected that as the CBN drives the cash-less revolution, Nigerians must give it the required support for the overall benefits of the country.

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BUSINESS SPECIAL

ANALYSIS

Tony Elumelu: Giving Young African Entrepreneurs Wings to Fly Obinna Chima extols the Chairman of Heirs Holdings, Mr. Tony Elumelu, who recently turned 60, with highlights of his contribution towards the development of entrepreneurship in Africa.

T

he Founder of Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, last week marked his 60th birthday, a ceremony that attracted friends, colleagues, families as well as entrepreneurs that had benefited from his Foundation.

Beyond the merriment, the occasion afforded the beneficiaries of the Tony Elumelu Foundation Entrepreneurship Programme (TEEP) an opportunity to shower encomiums on Elumelu and the Foundation for contributing to the transformation of their respective businesses.

Among the beneficiaries of TEEP is Nyong Clement, the Founder, Cameroon Safety Services (CSS) International, who lost his job in 2016. In his dejected state at the tike, he applied for the TEEP and was fortunate to be selected.

Clement used the occasion of Elumelu’s birthday ceremony to recount how TEF came to his rescue, restored his lost hope and gave him an opportunity to launch back to success.

“I applied for the programme and out of the 93,000 that applied that year, I was selected. Not only that, after receiving training from the TEF, we had our first client which was Dangote Cement in Cameroon and thereafter, a lot of multinationals followed up,” he said.

He also narrated how he was able to contribute to job creation in his country.

Similarly, Yaw Abul Busari, a poultry farmer in Ghana, narrated how the training she got from TEF helped in de-risking her business, which she started with only 300 chickens.

“My poultry farm was producing 2,000 eggs weekly before the support from TEF, and after going through the TEEP, with a seed capital of $5,000, today, the firm produces over 12,000 pieces of eggs weekly and we have created jobs for persons within my locality,” she added.

Also, Sama Irene, a Cameroonian and Founder of Reine Foods Enterprise, explained that before she got the support from TEF, she was a local business woman, producing manually.

According to her, after undergoing training and got financial support from the TEF, her business became more structured.

“We got a production machine and we are no longer producing manually. Not only that, our revenue moved from almost nothing, to thousands of dollars and then hundreds of thousands of dollars.

“From that, my company got the opportunity to be at the intra-African Trade Fair in South Africa. I also got selected as part of a women entrepreneurship programme, which just ended last year.

We are very grateful and on behalf of African entrepreneurs, I say thank you.

You gave us hope,” she told Elumelu.

In the same manner, Micheal Biu, who hails from Liberia, and is the Founder of Menina Farmers Incorporated, said, “We started in 2015 without an office, but with lots of ideas. Few years after we applied for the TEF grant, went through the training and became attractive to clients.

“We got the seed capital and invested in a rice business and began to buy rice from smallholder farmers and we were selling to the World Food Programme who were in turn distributing it to schools.

“We later invested in the oil palm industry and won another grant from the UNDP. Today, we are making an impact in Africa,” he explained.

Elumelu

For Elumelu, the motivation behind his African philanthropic initiative which had committed $100 million to create 10,000 entrepreneurs across Africa, is to democraticise luck and create access to economic opportunities for young Africans.

“Africa is a continent of entrepreneurs and I encourage it. My own story validates that. Today’s Tony Elumelu started from nowhere. And I just imagine if 100,000 or a million across Africa will have this kind of opportunity in 10 years’ time, it will be a different continent.

“That is why the TEF is key. Today, I am lucky to be the Chairman of the UBA Group that operates in 20 African countries, in Paris, London, Dubai and is the only African bank in United States of America and all over America that has a deposit taking license.

“I did not start like that. I was not a billionaire’s son. We created this out of sheer entrepreneurism.

“I see in Africa today, more people more determined than I was in their age. The difference between those guys and Tony Elumelu of today is access to opportunities.

“And that is what I want to create.

That is what I am mobilising others in the private sector in particular to do.

Let’s team up and do something that will be impactful. Let’s think about legacy and less about what we will have in our bank accounts. But as we do, we need our government to also prioritise the kind of policy that will make this succeed,” Elumelu said.

Elumelu became a bank chief executive at the age of 34, one of the youngest in the industry at that time, by a dint of hard work and luck.

In celebration of this special gift to Nigeria and Africa, some world leaders, presidents of African countries, business moguls and his family members extolled the leadership and entrepreneurial spirit of Elumelu, as he marked his 60th birthday.

In their remarks, his wife, Dr. Awele Elumelu and children prayed that God would continue to strengthen and empower Elumelu, who is also the Chairman of Heirs Holdings, to do more for the continent.

In his goodwill message, the President of France, Emmanuel Macron, wrote, “It is a great pleasure for me to write to you on this very special occasion, as it allows me to once again acknowledge the outstanding efforts put in place by your Foundation and yourself to support a vision of African entrepreneurship that we both share and to strengthen the continent’s position in the global economy.

“In particular, your empowerment of the youth across the African continent, by enabling them to fulfil their ambitions in business and academia bears a pivotal role for Africa’s future.

I can therefore only commend the Tony Elumelu Foundation for the numerous initiatives and unquestionable positive impact it has as a leading philanthropic organisation.

“Thanks to you, your companies have appointed many women at the highest positions and your Foundation has engaged in several initiatives with major stakeholders, including the European Union, to drive women’s leadership and entrepreneurship in Africa.”

Also, former US President, Bill Clinton, in his goodwill message to the Founder of TEF, wrote, “Hilary

and I are glad to join your family, friends and admirers from around the world in wishing you a very happy 60th birthday.

From your successful career in business to your amazing work with your Foundation, you have accomplished so very much throughout your first remarkable six decades.

“It has been very inspiring for us to see your passion for philanthropy up close, and to watch as you empower a rising generation of entrepreneurs across Africa.”

Similarly, former Prime Minister of the United Kingdom, Tony Blair, said, “I have had the great privilege of working with Tony in the past, through our Foundations and in particular, the Blair-Elumelu Fellowship Programme. I have always come away from spending time with him, inspired, energised and grateful for his wisdom and insights.

“Our thinking aligns in so many ways.

We have a shared optimism for the future. We believe in the transformative power of tech and innovation and the importance of entrepreneurialism as a means of solving many of the world’s problems, from healthcare to education to climate. Above all, we all believe in the importance of clear priorities, clear strategy and clear mechanisms for delivery; to put it simply, the importance of getting things done.”

The President of Rwanda, Paul Kagame, told Elumelu that, “year 60 is a moment to reflect on lessons accrued over the course of your life and pass this wisdom to the next generation. That has been the focus of your philanthropic work and it would be an understatement to say that the TEF has had an impact.”

He added: “By funding, training and mentoring young African entrepreneuers, the Foundation is creating jobs, driving innovation and building self-reliance.

The Foundation’s biggest contribution is empowering young women and men to lead, reminding them that Africa’s future rests in their hands. On this day, and looking back on over a decade of knowing you, I can only encourage you to continue the good work and hope that others are inspired to emulate your example.”

President of Ghana, Nana Akuffo-Addo, said he was happy to join well-wishers around the world in wishing a patriotic Nigerian and an extraordinary son of Africa a happy birthday.

“His reach has surpassed the boundaries of Jos, in Plateau State, where he was born, and he has positively impacted the lives of thousands and thousands of youths all over the continent,” he added.

Football legend and President of Liberia, George Weah, in his goodwill message to Elumelu, wrote, “I have known you for many years, Tony, and our paths have cross many times. On each and every one of those occasions, I have been impressed with the breadth of your passion. You have been able to establish and grow to prominence one of Africa’s largest and most successful pan-African financial services group, the United Bank for Africa. We applaud you for this singular achievement.”

Former President of Nigeria, Chief Olusegun Obasanjo, congratulated Elumelu on the occasion of his 60th birthday anniversary.

Continued on page 35

35

MONDAY, MARCH 27, 2023 ˾ T H I S D AY

BUSINESS SPECIAL

ANALYSIS

Tinuade Sanda: Celebrating 365 Days of Purposeful Leadership Peter Uzoho

L

eadership is the force that propels change. Meaningful change. This has remained true from time, and continues to be the bedrock upon which great accomplishments are based. Today, Dr. Tinuade Sanda, MD/CEO of Eko Electricity Distribution Company (EKEDC), embodies this truth.

She symbolises purposeful, passionate and peerless leadership. Her one-year record in the saddle of EKEDC has been nothing short of phenomenal.

Appointed MD/CEO in March of 2022, Sanda’s emergence was greeted with much excitement and anticipation. As a female professional who had built a long and established career in corporate finance and administration, many were eager to see what the reputed change-maker would do at the helm of a big energy company in a very challenging industry. It was a huge responsibility, a big job. On the evidence of her one-year record, it is now abundantly clear that she has provided an adequate enough response to all the curious minds!

Upon assuming office, Sanda took off on the right note by developing and launching her service philosophy encapsulated by her Mission Possible Mantra. This mantra revealed her mind set towards corporate leadership and growth. It underscored

Sanda

her belief in defiance against odds, in rejection of mediocrity, in resistance to complacency, in never settling for anything short of the best. It was a rallying cry to excellence. She knew that to attain collective success, the mind

set needed to be gotten right. A mind set of optimum success needed to be instilled. She understood that one’s team needed to be galvanised and inspired by a shared philosophy. This is the hallmark of purposeful leadership.

Having laid this very essential foundation, she set out to re-organise operational and team structure for optimum performance, improve team remuneration and performance incentives, realign customer and community engagement strategies for better brand positioning and service delivery, and develop an inclusive, impactful and sustainable Corporate Social Responsibility plan. All these were part of her innovation-based integrated reform plan. A flurry of activities followed, and the results were peerless.

In just some months under her leadership, EKEDC recorded: its highest levels of power distribution to its customers, its highest collection ever, and its lowest ever ATC&C losses.

EKEDC also recorded substantial reduction in work-related accidents, and marked increase in staff retention.

It distributed over 46,000 meters to its customers through its Mobile MAP Initiative, while also taking delivery of 150 brand new transformers meant

for communities with shortages. It has been an unprecedented activity and result-packed period in the life of EKEDC. Sanda’s passion has not only been limited to pure corporate performance and service delivery, it has also been significantly displayed in social impact. As a firm believer in structured social intervention, Sanda has always advocated for corporate organisations to prioritize the communities in which they operate, making sure their policies and activities do not exist at their expense, but work to elevate them instead.

For her, CSR is not merely a tokenist afterthought, but a carefully developed social impact plan that is scalable, measurable and sustainable. Her integrated four-pillar CSR plan meets this criteria. It is a plan focused on impacting society through programmes and interventions geared towards improving health & well-being, education, technology, and sports. So far, multiple projects built around the four pillars have been undertaken, bringing relief and succour to many.

For Sanda, leadership means purpose, it means passion, it means peerlessness. A leader must have a clear sense of purpose and direction, they must never let their fire die out, and they must represent unrivalled excellence. These are the attributes by which she has led EKEDC, and by which the company is rapidly shattering previous records of success against all odds.

Energy Transition: Better Way Forward Adeniran Ajakaiye As the world grapples with the challenge of transitioning to sustainable energy, Africa has an opportunity to leapfrog traditional energy sources and drive inclusive economic growth. At Africa Plus Partners, we believe that by investing in sustainable carbon+ infrastructure assets, we can foster economic growth and development across Africa, while combating climate change and improving the quality of lives for people around the continent.

The International Energy Agency’s (IEA) recent reports highlight the critical need for private sector involvement in facilitating a successful energy transition across Africa. According to the IEA, Ajakaiye global subsidies for energy through inexpensive consumption have surpassed a historic $1 trillion mark sustainable energy sources in 2022, double the figure and accelerating development reported in 2021 and almost across Africa, we must five times the amount seen develop innovative solutions.

One such solution is the in 2020.

To establish a balance private sector’s involvement between lowering emissions in renewable energy projects,

which has already been successful in many parts of Africa. For example, the Noor Ouarzazate Solar Complex in Morocco, the world’s largest concentrated solar power plant, was built with private sector funds from

companies like ACWA Power and Siemens.

Unlocking latent demand by increasing access to affordable and sustainable energy solutions is essential to achieving a successful energy transition in Africa. Off-grid solar energy solutions, like those offered by companies such as M-Kopa Solar in Kenya, have already proven successful in providing affordable and reliable energy access to over 1 million households and small businesses.

By investing in key sectors such as power, transport & logistics, construction, technology, and agriculture, we can create the desired value, while also advancing the cause of sustainability.

Africa Plus Partners’ ‘Carbon+’ investment strategy provides a unique value proposition, and we are well-positioned to invest in opportunities that have significant positive socioeconomic potential. Our focus on ESG-compliant investing ensures that we invest in sustainable infrastructure

assets that promote inclusive economic growth.

The role of pension funds in financing sustainable infrastructure cannot be overemphasized.

The investment by the Government Employees Pension Fund in South Africa in renewable energy projects like the Jeffreys Bay Wind Farm is a testament to this fact. The project has helped to reduce carbon emissions and has provided stable returns for pensioners.

The listing of Africa Plus Partners’ premier Fund, Africa Infra Plus Fund I (AIPF I), by way of memorandum listing on the Nigerian Exchange Limited (NGX) is a bold step towards addressing the argument put forward by Pension Fund Administrators (PFAs) in Nigeria that there aren’t sufficient viable instruments to invest in. AIPF I is majority-owned by PFAs and provides an investment platform for Nigerian and international investors to invest in sustainable infrastructure. This approach aligns with our ‘Carbon+’

investment strategy and will foster public perception and a sense of ownership, which is essential for the long-term security and development of sustainable infrastructure businesses.

In conclusion, private sector engagement is essential to achieving a successful energy transition in Africa, and pension funds can play a significant role in this regard.

At Africa Plus Partners, we are committed to sustainable infrastructure investing, and we see great social and economic opportunities arising from focused investments into funding Nigeria’s energy transition.

By working collaboratively with the global community to achieve net-zero emissions, Carbon+ infrastructure development would be the catalyst for achieving sustainable economic growth and ensuring that the most vulnerable populations in Africa are not left behind.

The future of Africa depends on sustainable infrastructure investments, and we are proud to be a part of this transformative journey.

Elumelu as a man “whose destiny is written in hard work, sweat and struggle.

“His name is a reminder that no one knows tomorrow – Onyemaechi,” he said, reading from a scroll.

Describing Elumelu as an enigma, Ige noted that “never depending on luck, Elumelu rolled his sleeves in the face of hard work and built an empire of prosperous men and women who walk tall across Africa.

“Tony Elumelu, I call you Araba, for you are the tree which offers rest

to those who are weary.

You bring good news to the ears of many and the ray of hope when there is darkness.”

He added, “You are the womb that conceive the dreams of the young and old, kindreds and strangers, for their success to see the light of the day.

“For your sake, Africa can beat her chest to say, I have raised the legendary son of the soil, fortune maker, who dedicates his life to raising fortune makers and the pedestal on which the Africa of our dream can stand,” he added.

TONY ELUMELU: GIVING YOUNG AFRICAN ENTREPRENEURS WINGS TO FLY “This is a milestone and I join your family, friends and well-wishers in recognising a life characterised by outstanding accomplishments, visible productivity and remarkable experiences throughout your 60 years on this earth under God’s grace. Over the years, since I was elected President of Nigeria in 1999, I have watched you grow in life and in business with much admiration,” Obasanjo said.

He also commenced Elumelu’s visionary leadership through the transformation of UBA

from a single-country bank to a Pan-African financial institution present in 20 African countries, the United States, the United Kingdom, France and United Arab Emirates as well as the TEF. Nigeria’s President-elect, Bola Tinubu, described Elumelu as a principled man of character, adding that “one of his primary attributes is courage. He never backs down from a challenge and will not entertain the idea that a thing is impossible. Tony strives from the stars through difficulty and that

is how he reached where he is.”

Founder and Chairman of BUA Group, Abdul Samad Rabiu, pointed out that Elumelu’s visionary leadership in business, philanthropy and many other areas continue to inspire and motivate millions of people, especially young people, to follow their dreams and aspire for excellence.

Speaker of the House of Representatives Hon. Femi Gbajabiamila, stressed that Nigeria needs the likes of Elumelu, who dedicated himself to philanthropic

activities and changed the lives of many.

Also, the Minority Caucus in the House of Representatives, congratulated the entrepreneur and philanthropist.

The caucus led by Hon. Ndudi Elumelu, described the celebrant as an exceptionally patriotic Nigerian; resilient spirit; an undisputed trailblazer with astonishing insight and extraordinary capacity to achieve success even in the face of daunting challenges.

Famous Nigerian poet, Deji Ige, in his poetic rendition, described

36

MONDAY, MARCH 27, 2023 ˾ T H I S D AY

BUSINESS/MONEYGUIDE

CBN: Credit to Private Sector Increased by N212bn in February Nume Ekeghe

The Central Bank of Nigeria (CBN) has disclosed that credit to private sector increased by N212 billion or 0.51 per cent Month-on-Month (MoM) in February to N41.75 trillion as against N41.54 trillion reported in January 2023.

The apex bank disclosed this in its “money and credit” statistics posted on its website.

The apex bank disclosed that credit to manufacturing, general commerce, and oil & gas are key sectors benefiting from private sector lending.

It added that credit to the private sector so far in 2023 gained 16.03 per cent in its Year-on-Year (YoY) growth from a reported N35.99 trillion in February 2022 to N41.75 trillion in February 2023.

Findings showed that credit to the private sector in 2022 crossed the N41trillion mark and experts have predicted

further increase, driven by government expansion in budgets, among other factors.

During the first MPC meeting of 2023, the Deputy Governor, Economic Policy, CBN, Kingsley Obiora, in his personal statement attributed the increase to the CBN directive on Loan-to-Deposit Ratio (LDR), which has encouraged banks to increase lending to the real sector of the economy, and business strategy and competition.

He added: “The increase in credit to the key sectors of the economy is expected to bolster aggregate demand and promote economic growth, job creation, and poverty alleviation.”

Also, the Deputy Governor, Financial System Stability, CBN Aisha Ahmad noted that the financial system has provided significant support for needed domestic economic resilience amidst global shocks and remained strong into 2023.

The CBN report also revealed that currency outside banks increased by N51.13billion to N843.3billion in February 2023 from N792.18billion in January 2023.

The reported N842.3billion is the lowest since 2010 and it is coming on the backdrop of CBN’s old currency swap policy.

The CBN’s statistics showed that currency outside banks dropped by -69.04 per cent in its YoY performance from N2.72trillion in February 2022 to N842.3billion in February 2023.

The CBN governor, Mr. Godwin Emefiele at the second Monetary Policy Committee meeting in Abuja, noted that the naira redesign and cash withdrawal limit policies have resulted in a sizeable reduction in currency-outside banks, indicating an expected improvement in the potency of monetary policy tools.

L-R: 1st Vice President , Chartered Institute of Stockbrokers (CIS), Oluropo Dada; President, Nigeria National Advisory Council (NAC), Chartered Institute for Securities and Investment (CISI) Uk, Ijeoma Onwu; Director, Global Business Development, CISI, Kevin Moore; President, CIS, Oluwole Adeosun; Registrar and Chief Executive, Josiah Akerewusi and Country Representative , (Nigeria), CISI, Dr John Onuoha, during courtesy visit of CISI Officials to Office Holders of CIS in Lagos...recently

MARKET INDICATORS

UNICEF, NASIDA Collaborate to Develop Climate-smart Infrastructure Igbawase Ukumba ÓØ ËʨË The United Nations Children’s Fund (UNICEF) is collaborating with the Nasarawa Investment and Development Agency (NASIDA) to develop Climatesmart Infrastructure projects in Nasarawa State.

The Head of Economic Development, Foreign, Commonwealth and Development Office (FCDO), Sally Woolhouse, disclosed this in Abuja at the signing of a public private partnership between the Nasarawa State Government and the UK-Nigeria Infrastructure Advisory Facility (UKNIAF).

The Public Private Partnership, which is on Mutual Accountability Framework (MAF), has two selected Climate-smart

Infrastructure projects of 4,000Bed Hostel for the Nasarawa State University Keffi and 450 hectres Gudi Industrial Hub. She said: “With the signing of the agreement, UNICEF and NASIDA would be collaborating to develop climate-smart infrastructure projects and unlock critically private financing for the development of the state.”

Also speaking, Governor Sule expressed optimism that the partnership will help improve productivity, and reduce poverty based on sustainable economic, social and environmental development as enshrined in the Nasarawa State Economic Development Strategy.

The governor, however, said he was looking forward

to UKNIAF’s support of other climate-smart projects in the Nasarawa State PPP pipeline and to also benefit from a full spectrum of the UKNIAF support through the development of Outline Business Case and market engagement to secure private sector participation.

In a remark, Managing Director of UKNIAF, Prof Chidiebere Onyia, said five key reforms initiated by the Governor Sule’s administration were the catalyst that facilitated the PPP agreement between UKNIAF and Nasarawa State.

Also, Managing Director/ CEO of NASIDA, Ibrahim Abdullahi, said Nasarawa State was committed to the partnership for mutual prosperity.

CISI Targets 1000 Members in Nigeria The Chartered Institute for Securities and Investment (CISI) in Nigeria has set an ambitious target of a 1000 active registered members in no distant time.

The President of the Nigeria National Advisory Council of the global professional body Ijeoma Onwu, said at the weekend, in her welcome address, during CISI Nigeria Members Forum in Lagos that the NAC had put in place strategies to move the institute forward.

She said, “Our membership has progressed over the years.

We are targeting more numbers in the future. By this time next year, we hope to have 1000 active members at the institute working with us.

“I and my team are looking at a lot of things to do to move the institute forward.

We have inculcated e-learning programmes into our mode of operation. I want to enjoin you to make use of it and it is free of charge It keeps you up-to -date in the financial industry.”

Addressing the CISI members on the “The Imperatives of Whistle Blowing and Speaking Up for Sustainable Financial System,” the Director, Global Business and Development, Kelvin Moore explained that speaking up in case of impropriety required courage.

According to him, speaking up is a form of whistleblowing but stressed the essence

of speaking up and listening up, especially in the world of finance.

“Listening up is listening to what is going on around you. It is not good speaking up if people don’t listen. The main thing is having the courage to listen when someone is speaking. By listening up, we would hear things that are unpleasant. When people speak up, they need assurance that they will be protected if something happens, “said Moore. The Divisional Head, Business Technology and Digital Innovation at Central Securities Clearing Systems (CSCS) Plc, Tobe Nnadozie advised managers to get a good performance system as the world of work had continued to evolve.

Wema Bank Empowers Next Generation with Financial Knowledge Wema Bank Plc is championing financial literacy for the next generation by participating in the Global Money Week to commemorate the Financial Literacy Day on March 23, 2023.

In alignment with the theme, “Plan your Money, plant your Future,” Wema Bank organized financial literacy sessions for secondary school students across all states where the Bank is represented. This is to instill an early understanding of the significance of building a solid financial foundation and achieving financial stability and success from

a young age.

The Deputy Managing Director of Wema Bank, Mr. Wole Akinleye, led the Financial Literacy Session at Yola Model School, Adamawa State. The students were trained on personal finance topics such as budgeting, emergency funds, saving for goal actualization, investment, donating for positive societal impact amongst others. He further encouraged the students on the importance of developing financial literacy as a life skill.

Speaking on the significance of Financial Literacy Week, Mr.

Akinleye emphasized Wema Bank’s commitment to empowering young minds with the skills and knowledge necessary to make informed financial decisions. In his words, “Our hope is that through these initiatives, we can empower more individuals to take control of their finances and achieve financial stability.

“Financial literacy is vital for the achievement of financial stability, and it is essential to ensure that everyone has the necessary tools to manage their finances effectively and achieve their financial goals.”

MONEY AND CREDIT STATISTICS (MILLION NAIRA) AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 8 MARCH, 2023

The price of OPEC basket of thirteen crudes stood at $84.37 a barrel on Tuesday, compared with $84.59 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

37

T H I S D AY ˾ DAY, MARCH 27, 2023

MARKET NEWS

NGX to Deepen Capital Market With Non-depository Receipts Kayode Tokede The Nigerian Exchange Limited (NGX) has announced plans to launch Non-Depository Receipts (NDR) with the aim to further deepening the Nigerian capital market.

This disclosure was made by the Divisional Head, Capital Markets, NGX, Mr. Jude Chiemeka during a fireside chat themed, “Investor sentiment on

Nigeria: success and challenges,” at the 2023 Nigeria Risk Summit held in Lagos.

According to him, the NDR would grant the investing public access to financial instruments listed on an offshore exchange and provide investors with access to alternate investment schemes.

“With this initiative, asset managers will sponsor this instrument offshore, convert

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

the receipts, and sell off in our local market. In the end, we are not only enabling exposure to foreign exchange, but we are also preparing a marketplace with a broader spectrum of participants,” he explained.

While listing other initiatives embarked on by the Exchange, Chiemeka noted, “NGX had in 2022 gotten approval from the Securities and Exchange Commission (SEC) on its Technology

Board Listing Rules. Our aim with this is to encourage investments in indigenous technologically inclined companies within Nigeria and across Africa by providing greater visibility to these companies.”

“In recognizing the importance of investor education to a healthy market, NGX had partnered with the IFC and Islamic Development Bank to train capital market participants on the impact of

S E C U R I T I E S

T R A D E D

QUANTITY TRADED

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sustainable and Islamic finance respectively,” he added.

Speaking further on partnership opportunities within the capital market, the DH Capital Markets explained that the Exchange had partnered with other stock exchanges like the London Stock Exchange (LSE) to offer dual listings to corporates and increase the size of the market where investors can invest in a broader-based

AS O F

market.

NGX had also signed a Memorandum of Understanding with the Luxembourg Stock Exchange (LuSE) to aid the cross-issuance and listing of green bonds. Additionally, he maintained that NGX is working with the Ghana Stock Exchange (GSE) to improve on secondary listings that will develop private market utilization of technology.

2 4 / 0 3 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

MONDAY MARCH 27, 2023 • T H I S D AY

MONDAY MARCH 27, 2023 • T H I S D AY

39

40

MONDAY, MARCH 27, 2023 • T H I S D AY

NEWS

LAUNCH OF PEAK PERFORMER MAGAZINE AND RECOGNITION OF 100 HIGHLY ESTEEMED EXECUTIVES… L-R: Special Guest, Dr. Khadijat Okunnu-Lamidi; Panelist, Charles O'tudor; Chairman of occasion, Kola Karim; Convener, The Peak Performer Recognition, Dr. Abiola Salami and Representative of Olu of ABIODUN AJALA Warri, Chief Lucky Ereku during the launch of the Peak Performer Magazine and Recognition of 100 highly esteemed executives in Africa, held in Lagos...recently

Oyebanji, Akeredolu, Mimiko, Oni Celebrate Ipinmoye at 80 Gbenga Sodeinde in Ado Ekiti Ekiti State Governor, Mr. Biodun Oyebanji, at the weekend eulogised Ekiti born retired Bishop of Akure Anglican Dioceses, Rt. Rev’d Michael Ipinmoye, during his 80th

birthday thanksgiving held in Ado-Ekiti.

He described the retiring clergy as a special gift to his generation.

The governor spoke just as Ondo State Governor, Rotimi Akeredolu, former Governor of the state, Olusegun Mimiko, ex-

Governor Segun Oni and Minister of State for Transportation, Ademola Adegoroye, hailed the celebrant at the well-attended service.

Oyebanji, who described the Bishop as a very proud Ekiti man who proudly carries Ekiti

identity everywhere, appreciated him for his years of meritorious service to God and to humanity.

Speaking during the thanksgiving service which held at the Emmanuel Cathedral Church, Ado Ekiti, Oyebanji described the octogenarian as

We’ll Rededicate Abia Back to God Before Swearing-in, Says Otti Abia State Governor-elect, Dr. Alex Otti, yesterday said the state has fallen short of its original status as ‘God's Own State,’ and therefore would be rededicated back to God before he formally assumes office on May 29, 2023.

Otti, who worshipped at both the Living Word Ministries on Aba-Owerri Road and Christ the King Church (CKC) Asa Road, Aba, thanked Abians, particularly the Church and its leaders, for standing by him and voting massively for the Labour Party (LP) in the just-concluded general elections.

This was disclosed in a statement by his media aide,

Kazie Uko. It pointed out that the incoming governor whose speeches at the various churches were greeted with intermittent applause and shouts of joy, however, asked the Church not to rest yet as it still had work to do.

"I know how had you fought last Saturday, March 18, 2023.

It was a fight for freedom. God used all of you and freedom we now have. I want to say that we dedicate the victory to God Almighty and He will take all the glory.

"At some point (during the election) the usual ill wind that accompanied elections in Abia started again, but the game

changer called BVAS became their albatross. They almost had their way but God said, no. God said that enough is enough.

"Now, this victory is not for me. I don't need anything. It's for you. I'm just a vessel to work for you and you know I will work for you.

"What is happening in Abia State today is not ordinary.

Before we're sworn in, we will bring the state back to God. The Bible says that when the righteous are in power, the people rejoice. Again, it says when the wicked rule the people groan. We have been groaning until Wednesday when we started rejoicing," Otti told

the congregation at CKC. Otti urged the church to continue to pray for the Labour Party presidential candidate, Mr. Peter Obi, who is currently in court contesting the outcome of the presidential election, held Saturday, February 25, 2023, where the All Progressives Congress (APC) candidate, Bola Ahmed Tinubu, was declared winner by the Independent National Electoral Commission (INEC).

According to him, "Our celebration will be full when God does something about the case of our Principal, Mr. Peter Obi. We don't know how He is going to do it but we know that He will do it."

a builder of men, a model and a man of God to the core.

While congratulating the bishop, the Governor prayed to God to grant him long life and prosperity and that he will live as long in good health to reap the fruit of his labour of love.

“Daddy, I bless God for your life, to be 80 in Nigeria is not by accident, it can only be God. In a Country where life expectancy is between 45 and 55years and you are 80 and strong, we give God all the glory.

“I thank you for your service to mankind and service to God, I thank you for being a very proud Ekiti man and I thank you that you never change your Ekiti identity anywhere you are, thank you so much.

“Well, there is nothing to say other than to congratulate you and as you journey in life my prayer is that you live as long as you want. The Governor prayed,” he said.

Oyebanji, who also acknowledged the presence of Oni, said beyond partisan politics, the former Governor remains a brother to him.

In his own goodwill message, Oni congratulated the celebrant for witnessing his 80th birthday in great health.

He also appreciated Oyebanji, whom he also described as a brother. In apparent reference to his case against the election of Oyebanji, Oni said political contest was a normal thing in democracy just as seeking the intervention of the judiciary in determining knotty issues.

He prayed for God’s continued support to enable the Governor achieve a successful tenure.

Mimiko, in his brief remarks, said he was not surprised at the developmental strides of Oyebanji’s administration.

He said he had known the governor as a young man and was convinced he had the right training, preparation and capacity to excel as Governor of Ekiti State.

In his sermon, a retired Bishop from Osun State, Revd James Afolabi, described the celebrant as a simple but firm man of God, and enjoined him to continue to live his life for God as it's the only was he can respond to God's faithfulness at all times.

PDP: Why Deltans Were Emphatic in Rejecting Omo-Agege During Guber Poll Delta State Commissioner for Information, Mr Charles Aniagwu has given insight on why Deltans roundly rejected the governorship bid of Deputy President of the Senate, Senator Ovie Omo-Agege.

He said Deltans were comfortable returning the Peoples Democratic Party (PDP) governorship candidate, Hon. Sheriff Oborevwori because of the antecedents of the party and its candidate over the years.

Speaking on "The Morning Show" on ARISE NEWS Channel yesterday, Aniagwu said OmoAgege had questionable character as regards his involvement in the Senate mace saga, adding that Deltans were not ready to elect a man of questionable integrity.

He pointed out that OmoAgege was so desperate to become governor that he threw caution to the wind by engaging in malicious propaganda against

Governor Ifeanyi Okowa and the State Government even when he wasn't on same ballot with him.

According to him, the PDP has been winning fair and square in Delta and repeated same feat because the party campaigned vigorously across the 270 wards in the state with visible projects that dots the nooks and crannies of the state.

"The PDP won largely on account of three major factors.

One, the performance of Gov. Okowa to the street credibility of Oborevwori and his touch with the grassroot and then the desire of Deltans not to have Omo-Agege as the next governor of the state based on his antecedents.

"I am sure you can recall what happened in the Senate where the mace was tempered with, so that is not something that Deltans were looking forward

to so that we are not mocked of having a governor who rustled mace in the Nigerian Senate," On claims of violence in some parts of the state during the governorship election, the Information Commissioner said the election was largely peaceful except the APC enclaves where they tried to forcefully have their way against the wishes of the people particularly in Orogun where Omo-Agege hails from and parts of Ethiope West.

"You will recall that INEC raised alarm that staff sent to conduct elections in Orogun were held hostage for days by the APC governorship candidate, Ovie Omo-Agege.

"Beyond some of these skirmishes, the election in Delta passed the credibility test in terms of the fact that people were allowed to vote freely and so what the APC are claiming

tells a lot more on propaganda rather than the facts on ground."

On continuing with some of the major projects of the Okowa administration, Aniagwu said the Governor-Elect, Sheriff Oborevwori being Speaker of the State House of Assembly in the last 6 years was acquainted with the development trajectory of the state and would do everything within his powers to consolidate on Okowa’s projects and programmes for the good of the people.

"Oborevwori has been an integral part and parcel of the very many initiatives of Governor Okowa led administration and we have enjoyed the support of the legislative arm since 2015.

"Every of our policies were grounded in law because Okowa having had experience in the Nigeria Senate was able to realise that programmes and

policies can be strengthened by taking advantage of legislative procedures," he said.

He remarked that the Okowa administration had reversed the trend of high unemployment and low skill acquisition in the state by engaging in skills training programmes for youths of the state.

"Through our many training programmes and platforms, under Youth Agricultural and Entrepreneurship Programme YAGEP, we have trained youths in piggery, aquaculture, crop farming among others while many youths were also trained and equipped in various skills under our Skills Training and Entrepreneurship Programme STEP. "Directly, over 17,000 youths were trained and equipped and they have multiplied remotely to over 120,000 youths across

the state with new skills and are now self employed.

"Delta remains the only state in Nigeria that established three new universities at once and today we have four state-owned universities.

"These four universities are running to the extent that even when other universities were on strike during the eight months strike, our universities and other higher institutions were running because Governor Okowa through the support of the House of Assembly led

by Sheriff Oborevwori has been able to provide the much needed environment for them to thrive.

"And so Oborevwori will not only sustain these legacy programmes and projects, he will run with them for the good of all Deltans as he has encapsulated in his M.O.R.E Agenda," Aniagwu added.

41

MONDAY, MARCH 27, 2023 • T H I S D AY

NEWS

SOLUDO SIGNS MOU FOR STEADY POWER...

Anambra State governor, Prof Chukwuma Soludo (left), with Chairman of Enugu Electricity Distribution Company (EEDC), Sir Emeka Offor, during an MOU signing ceremony for steady power in Anambra, at the government house, Awka at the weekend

Benue PDP Suspends National Chairman, Ayu, for Anti-party Activities His Igyorov ward passes vote of no confidence in him Chuks Okocha in Abuja The crisis rocking the Peoples Democratic Party (PDP), festered on Sunday as the National Chairman of the party, Dr Iyorchia Ayu, was suspended by his Igyorov ward in Gboko Local government Area of Benue State over alleged anti-party activities.

The suspension of Ayu came a few days after the National Working Committee (NWC) of the PDP dragged the Benue State Governor, Dr Samuel Ortom before the national disciplinary committee of the party and suspended former Governor of Ekiti State, Ayodele Fayose and erstwhile Senate President, Senator Anyim Pius Anyim, among others, also for anti-party.

Ayu's suspension on Sunday followed a vote of no confidence passed in him by his ward.

A resolution passed at the end of their meeting and read by the Secretary of Igyorov council ward,

Mr Banger Dooyum, stated: "The Peoples Democratic Party Executive Committee of Igyorov council ward of Gboko Local Government Area in Benue State, has passed a vote of no confidence on the PDP National

Chairman, Dr. Iyorchia Ayu and suspended him from the party."

Dooyum, while reading the resolution of the ward Exco, said, "He (Ayu) was involved in anti-party activities making the PDP to lose at

his ward and local government along with his allies, who also didn't vote at the governorship election."

He was also accused of not paying his annual dues as enshrined in the party's constitution.

Shortly after the Benue State governor was referred to the National Disciplinary Committee of the PDP for anti-party activities by the NWC chaired by Ayu, the Rivers State governor, Nyesom Wike, had dared

the national leadership of the PDP, declaring that Ortom would not appear before the Committee.

Wike equally described the suspension of Fayose and others as a nullity.

Akeredolu: I’ll Continue to Give Priority to Education Fidelis David in Akure Chairman of the Southern Governors Forum and Governor of Ondo State, Mr Oluwarotimi Akeredolu (SAN), has said his government would continue to give priority to education in the state to ensure meaningful development.

Akeredolu who stated this, weekend, at the maiden convocation ceremony of the Olusegun Agagu University of Science and Technology, Okitipupa (OAUSTECH) said his administration has expended huge

investment on education in the last six years.

Explaining that education was the only way of escaping from poverty, he said this alarmed his administration at inception with the deplorable condition of things in the university especially, in terms of roads, buildings and other essential facilities connected to a conducive learning environment.

“This informed our resolve to change the narrative, by immediately commencing a gradual, radical and systematic implementation of the State

Government’s Strategic Plan for the university. I am delighted to recall that within our 100 days in office, we facilitated the asphalt overlay of the first phase of the university road network and inaugurated same for use.

“We have also recently approved the construction of a 2.5 kilometre road network for the university, which has achieved about 75% level of completion,” he said, adding that, education was one of the cardinal responsibilities of his administration, and a social debt to the people.

According to the governor, he had to release funds for the completion of some major building projects, which had been abandoned for almost a decade, as part of his administration’s intervention to revive the school.

He listed the projects completed by his administration to include the University Senate Building, the University Library and the University Auditorium, with a promise to complete all similar abandoned projects in batches as the state’s finances improve.

“To this end, our administration

has tremendously supported the university’s quest for TETFund funding. Today, we are all happy that the university has started to have the presence of TETFund projects while more opportunities are underway.

“We have also noted that within the last six years of our administration, OAUSTECH, which used to offer courses only in the School of Science, has added courses in two additional schools: School of Engineering and Engineering Technology and the School of Agriculture, Food and Natural Resources.

DEREGULATION: BRACE FOR N750/LITRE PETROL WHEN SUBSIDY IS REMOVED, STAKEHOLDERS TELL NIGERIANS buyers for its crude oil as strikes in the French refining sector and seasonal maintenance at plants in Europe cut into the OPEC producer’s sales.

Between 20 and 25 shipments of Nigerian crude for April loading were still searching for buyers, according to four traders specialising in the West African market. That was a much weaker position than normal for this time of the month — when trade should be moving on to May’s barrels — and the prices the shipments could fetch were dropping, they said. Each cargo was about a million barrels of crude, Bloomberg reported.

Typically, one of Nigeria’s biggest buyers, France, took an average of 110,000 barrels a day of Nigeria’s oil over the past year, according to tanker-tracking data compiled by the medium.

But that demand shrivelled this month, with France’s overall crude imports dropping by half in March as the nationwide dispute over pension reforms escalated, according to Wood MacKenzie.

Well over 80 per cent of France’s 1.1 million-barrels-a-day processing capacity is halted or in the process of shutting down because of the industrial action, data compiled

by Bloomberg show.

In addition to the impact of the strikes, other plants in Europe are also buying less crude because of seasonal maintenance, according to the traders.

Capacity is offline at some typical destinations for Nigerian crude, such as Spain’s San Roque refinery and Italy’s Sarroch plant, Bloomberg said.

Facilities that have halted capacity for work also include Shell’s Pernis refinery near Rotterdam, Europe’s biggest plant.

“The Nigerian backlog is a combination of higher freight costs, lower tanker availability — specifically into Europe — as well as lower overall demand for West Africa light sweet as crude from other regions is deluging markets,” said Viktor Katona, lead crude analyst at Kpler.

Northwest Europe’s reduced buying matters for West Africa because alternative outlets are limited, traders said.

Mediterranean refiners can choose to skip Nigerian supply in favour of cheap North African barrels that ship more quickly to the region, or they can process some of the large volumes of US West Texas Intermediate crude that have been arriving in Europe in recent months, the report said.

Long-haul buyers, like Indian Oil and Indonesia’s Pertamina, have been taking more discounted Russian volumes this year, easing their need for Nigerian supply. China’s UNIPEC favours processing oil from Angola, where only around five April shipments are still available, the traders said.

Another driver of the unsold glut has been Nigeria’s revival of crude production that was shuttered in

recent months by theft and technical issues, such as the nation’s Bonny Light stream.

Nigerian export capacity may now exceed what the market needs in April and May, according to Katona, as more oil tankers have diverted away from France and strikes disrupt the country’s petroleum industry.

Crude oil carriers, Primero and Elisabeth Maersk, had both been anchored off Le Havre until Wednesday, before changing their destination to Rotterdam, according to ship tracking data compiled by Bloomberg. That was on top of several refined fuel carriers that moved away from the French port recently to go elsewhere.

The effects of French strikes to protest against pension reform are rippling across global oil markets.

The nation is estimated to see a hit of about 500,000 barrels a day to the amount of crude that gets turned into fuels in March.

France released strategic stockpiles of oil products this month to avoid fuel shortages as the strikes blocked fuel movements from many local refineries.

French transport networks, oil refineries and schools have been hit by widespread disruption, as workers staged a national strike to protest an increase in the retirement age that was pushed through parliament without a vote.

Sporadic demonstrations had popped up in Paris and other cities

after the French government forced the bill through last week, being the ninth day of strikes since the bill was introduced in January.

Only two out of 14 metro lines in Paris now operate a normal service even as the nationwide strike has also affected air traffic, with 30 per cent of flights impacted at Paris Orly airport.

Unionised workers blockaded a major oil refinery in Normandy and another one in Fos-sur-Mer in the south of France, according to a government spokesperson.

"We are intervening in a targeted manner to unblock oil storage tanks that are blocked by demonstrators," the Minister of Energy Transition, Agnès Pannier-Runacherin, said in a statement.

"If the strike is a fundamental constitutional right, blockading is not one... The police is mobilised in difficult conditions and has my full support," the statement said.

The government's plan to raise the retirement age for most workers by two years was opposed by huge numbers of people. But despite protests that drew more than a million people onto streets across the country, President Emmanuel Macron's government did not back down.

It rammed the legislation through the French National Assembly last week using a constitutional clause that allows the government to bypass a vote.

The country's generous pension system and early retirement have been a point of pride since they were enacted after World War II. Under the new law, the retirement age for most workers will be 64, still one of the lowest in the industrialised world.

The 25 million barrels of crude oil, which are seeking buyers in Europe, are more than half of the country’s production that was roughly 40 million barrels in February.

Try Oil Thieves for Treason, Ex-Naval Policy Chief Urges FG

Babalola called on the federal government to try criminals involved in oil theft for treason.

Speaking at a seminar organised by the Defence Correspondents Association of Nigeria (DECAN), with the theme, "Achieving Presidential Mandate in Curbing Oil Theft and Securing the Nation’s Wealth,” in Abuja, Babalola recommended that those caught stealing the country's crude should be charged with treason. He called on the government to identify the supply chain of oil theft and the individuals involved, and bring the culprits to justice.

He said, “It is high time the government treated the menace with urgency. Oil theft will destroy the nation's economy should the government fail to act fast."

In his remarks, Minister of State

for Petroleum Resources, Timipre Sylva, said the order given by President Muhammadu Buhari on the eradication of oil theft was yielding result.

Sylva stated, “Before that directive, oil production went down to 900, 000 barrels per day, but today it is gradually picking up and oscillating between 1.5 million and 1.6 million barrels per day.”

Represented by his aide, Horatius Egua, Sylva said the problems confronting the oil and gas industry were caused by years of neglect by past administrations.

He said, “The oil and gas industry is the most complex sector in this country. That is why some allege that in the sector, the more you look, the less you see.

However, in the last 12 months, the order by the president to end oil theft in the country is beginning to yield results.

“Apart from stealing, past governments did not invest in infrastructure in the oil and gas sector for a very long time. You find pipelines rupturing.

“We could not get what we wanted, but this administration has done much to restore infrastructure.

“The president directed that the refineries must work and as it is presently, the Port Harcourt refinery is at 65-70 per cent. Hopefully, before the end of the second quarter of the year, I believe something will come out of that refinery.”

42

MONDAY, MARCH 27, 2023 • T H I S D AY

NEWS

OTTI AT CHRIST THE KING CHURCH...

Abia State Governor-Elect, Dr. Alex Otti,, and his wife Priscilla, in a group photograph with the clergy at the Christ the King Church, Aba.

LP: We Will No Longer Tolerate Intimidation, Oppression of Our Members by Any Group, Party Insists party won Enugu guber Emameh Gabriel in Abuja The Labour Party has warned that it would no longer tolerate any form of intimidation and oppression of its members by

any group or political party in the future as witnessed in the just concluded general election.

The party has also insisted that it won the governorship election of March 18, 2023, in

Enugu State, declaring that the Independent National Electoral Commission (INEC), acted contrary to the Electoral Act to declare the candidate of the Peoples Democratic Party (PDP)

Osun: HURIWA, PDP Can't Bully Oyetola to Silence, Says Aide Yinka Kolawole in Osogbo.

Spokesperson to the immediate past Governor of Osun State, Adegboyega Oyetola, Ismail Omipidan, has described the opinion by the Human Rights Writers Association of Nigeria (HURIWA), asking his principal not to explore the option of going to the Supreme Court as an attempt to bully him and his supporters to silence, insisting that such a piece of advice and opinion were in bad taste.

He also challenged HURIWA to provide any material, whether in print or in broadcast form, that suggested that his principal ever engaged in any verbal war since the litigation began in August last year, adding that the association should direct its charge of verbal war at the Osun Peoples Democratic Party (PDP) and the governor, Senator Ademola Adeleke, who not only tried to incite the public against the judiciary after the January 27 Tribunal judgement sacking them, but use several unprintable words to describe members of the Tribunal for the reason that the judgement did not favour them.

In a statement issued on Sunday, Omipidan noted that he would have ignored HURIWA's opinion on the Appeal Court judgement if he had read a line of condemnation from the body, when the Osun PDP and the governor released the phone number of the Tribunal chairman to the public, asking them to hurl insults and curses on the Tribunal chairman, when the judgement did not go their way.

"After the January 27 Tribunal judgement sacking Senator Ademola Adeleke, under 24 hours, they issued four press statements, including a state broadcast by the governor,

casting aspersions on the Tribunal. I did not hear a word of condemnation from HURIWA when the PDP specifically called members of the Tribunal 'hired mercenaries' who 'waybilled' a judgement that was allegedly paid for.

"But in the case of my principal, in spite of the fact that last Friday's Appeal Court judgement did not go his way, he reinstated his belief in the judiciary to do justice in the matter and expressed his willingness to test the decision of the appellate court at the Supreme Court. Is that the kind of person you accuse of engaging in verbal war?

"At any rate, as a layman in law, I believe that the Supreme Court's resolution of issue of voter register vis-a-vis the relevance of the register to prove over-voting in the era of BVAS will no doubt further deepen our legal jurisprudence on Electoral matters, especially taking into cognisance Sections 47, 51 and 64 of the Electoral Act 2022.

"For the avoidance of doubt, Section 47 (2) of the Electoral Act 2022 stipulates that 'To vote, the presiding officer shall use a smart card reader or any other technological device that may be prescribed by the Commission, for the accreditation of voters, to verify, confirm or authenticate the particulars of the intending voter in the manner prescribed by the Commission.' And in the case of Osun Governorship Election, BVAS was deployed.

"Section 51 (2) of the Act further stipulates that 'where the number of votes cast at an election in any polling unit exceeds the number of accredited voters in that polling unit, the presiding officer shall cancel the result of the election in that polling unit.

"Rather than vilify or attempt to bully my Principal into silence, I thought he should be commended for taking to the part of civility and the rule of law; and for helping to deepen the country's democratic values and the electoral system. We wonder why HURIWA did not ask Governor Adeleke to 'stop his legal voyage' when he lost at the Tribunal."

winner of the election despite the infractions observed during the process.

National Chairman of the party, Julius Abure, stated this yesterday in Abuja during a joint press briefing with Labour Party Coalition for True Democracy.

Abure, who addressed journalists through a telephone call during the briefing described the "2023 general election a shadow of the gains of electoral developments in country in the past."

According to him, "It's an election that took us back to 2007. All the gains recorded in recent times, all the electoral evolution, reforms and gains we have accumulated from the conceding of defeat by former president Goodluck Jonathan to Muhammadu Buhari have all been eroded by the outcome of the 2023 general election.

"In Abia and Enugu, those are state that we won clearly.

We won Enugu State clearly.

We were already leading in Enugu with 15,000 votes before the governor attempted to use his local government to upturn the results. The returning officer has been complaining and confessing that she was coerced to declare that result.

Same would have taken place in Abia if not for the resistance of the returning officer.

"We won the Senate in the state even after introducing the younger brother of our former candidate that was assassinated. So, where did they get the results from?

"Unfortunately, what we see in Nigeria today can be likened to what what you see in animal kingdom, where somebody will carry a gun and say if you are not voting for PDP or APC, don't come and vote. Or where

people are voting and when they see that they are losing, they unleash chaos. And the security men on duty will look the other way. That can only happen in an animal kingdom; it can’t happen in a sane society."

"This is the last time that we will get to the field to vote and they will use gun and intimidation on us. In any other election, we will be ready. I am saying it, that going forward, we will be ready for them,” he said.

Spokesperson of the group, Ken Eluma Asogwa, described the declaration of the candidate of ruling PDP in the state as winner of the election by INEC as a heist because "collation was suspended midway into the declaration of a winner of the gubernatorial election due to the malpractice that took place in Nkanu East LGA of the State.”

Adamawa Rerun: INEC Tasked to Demonstrate Integrity, Neutrality Emameh Gabriel in Abuja Ahead of the rerun governorship election in Adamawa State, the Independent National Electoral Commission (INEC) and security agencies in the state, has been called to play by rules of engagement for the good, peace and unity of the state.

The call was made yesterday by a pro-democracy group, Concerned Citizens for Peace and Development, during a press conference at the Nigerian Union of Journalists Secretariat, Abuja.

Addressing newsmen at the briefing, National Coordinator of the group, Comrade Dominic Ogakwu, said, "The 2023 governorship election of Adamawa State has become a world centre of attraction, which has now become a debacle of power tussle between the incumbent governor, Rt Hon Ahmadu Umaru Fintiri and Senator Aishatu Ahmed Dahiru (Binani), Senator Representing Adamawa Central."

Expressing concern over Binani, who was in the first place a

contestant, being "given the contract to print INEC sensitive papers in the same Adamawa State, the group said "declaring an inconclusive election after announcing results from twenty one local government areas by the INEC Returning Officer, Professor Mohammed Mele, is not tenable.

He said, "Adamawa is too big to be put in a handbag, however expensive. The INEC must demonstrate that it is independent and above board by explaining how the units for

the rerun increased from 69 to 77 polling units as widely spread on social media. Any action not in tandem with the Electoral Act and its guidelines will not be permitted by the good people of Adamawa."

While noting that only fairness and justice were what would save Adamawa from the claws of crisis, he said, "It is also pertinent to draw the attention of the local and international community that Binani was never announced winner of the Adamawa governorship election."

Nnamani Concedes Defeat, Congratulates Successor Says the people have spoken Sunday Aborisade in Abuja Former Governor of Enugu State, who is the incumbent Senator representing Enugu East, Dr Chimaroke Nnamani, has congratulated his opponent in Saturday’s senatorial election, Kelvin Chukwu,

for his victory.

Nnamani contested the Senatorial election on the Peoples Democratic Party (PDP) platformwhile Chukwu contested on the platform of the Labour Party (LP).

The Senator in a message to Chukwu, said the outcome

of the election reflected the wishes of the majority of constituents, adding: “The people have spoken.”

He added: “The result of the election is in tandem with the rave of the moment in the South East zone, who have identified with Labour Party.

A contrary result would have negated the trend. I wish the Enugu East Senator-elect a successful tenure in the upper legislative chamber.”

He also told his supporters to remain calm and accept the outcome of the election in good faith.

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NEWS

NATIONAL OPEN UNIVERSITY GRADUTATION CEREMONY…

L-R: Graduating Student, Entrepreneur and Business Management, Ifetayo Adeniyi; Deputy Director, Lagos Mainland Centre, National Open University(NOUN), Mr. Athanasius Onyeokuro; Director, Lagos Study Centre, Associate Prof. Alero Akujobi, and Director, Badagry Study Centre, Dr. Julius Paul Eyanuku , during 20th convocation ceremony of the NOUN in Lagos.... recently ETOP UKUTT

Irabor: 51,828 Boko Haram Fighters, Family Members Surrender in 18 Months Adibe Emenyonu in Benin City The Chief of Defence Staff, Gen. Lucky Irabor, has disclosed that between July 2021 and May 2022, about 51,828 Boko Haram fighters and their family members had surrendered to the federal

government General Irabor disclosed this at the weekend while delivering a lecture at the 7th Founders’ Day ceremony of the Edo State University, Uzairue, titled: “National Defence Policy and Transitional Justice Approach in

the War Against Insurgency in Nigerian.”

According to him, “between July 2021 to May 2022 alone, no fewer that 51,828 Boko Haram and their family members have surrendered, out of which 13,360 are fighters.”

He further disclosed that 1,543 repentant terrorists have so far graduated from Mallam Sidi

camp, in Gombe state between 2016 and 2022, while 1,935 have been released from the camp in Bulumkutu, Maiduguri.

He said: “Operation Safe Corridor’ as a transitional justice approach was created similar to the Niger Delta Amnesty programme launched by the federal government in 2009 which involved the setting up

of special facilities where repentant terrorists who surrendered their arms can be rehabilitated.”

“The programme offers numerous opportunities and participants arescheduled for vocational training to ease their reintegration into the society.”

The CDS, however, said despite the modest successes recorded by operation safe corridor in the fight

against crime, the programme still faced a lot of challenges.

He listed some of challenges to include lack of specialised training experts and inadequate physical structure; inadequate collaboration and coordination; absence of appropriate legislation on reintegration; low agency and international participation; as well as ineffective monitoring system.

Okon Bassey in Uyo

Ifiok Ukana said developed countries already know that the future now lies in the Sea. He spoke in a chat with Jòurnalists in Uyo while highlighting the 2023 conference on maritime security organised by the Academy in collaboration with the State Ministry of Science and Technology.

He regretted that despite the

depletion of land resources most Nigerians are yet to embrace blue economy as it it done in developed countries of the world.

On the 2023 maritime security conference, Ukana explained that an international scholar, Rear Admiral Sunday Atakpa, would speak on what blue economy holds for the country and the state in particular with the

theme, “Law of the Sea and Blue Economy.”

According to him “Resources of the land has been depleted, there is a move towards the sea to harness the resources of the sea. Developed countries already know that the future is in the sea, but surprisingly many of us have not embrace the vision.

NNPP Rejects Outcome of Taraba Guber Poll Nigerians Tasked to Embrace Blue Economy for Job Creation Juliet AkojeinAbuja

The New Nigeria People’s Party (NNPP) yesterday raised a concern alleging that the Peoples Democratic Party (PDP) did not win the Taraba State governorship poll.

The National Chairman of the party, Prof. Rufa’i Ahmed Alkali, while briefing the press over the weekend in Abuja, claimed that some security personnel aided the manipulation of the results in favour of the PDP. Alkali called on the Independent National Electoral Commission (INEC), to urgently correct the injustice done to NNPP and its governorship candidate to bring lasting peace and stability in Taraba State.

“Just like Kano State, Taraba State has been facing serious difficulties. It is very glaring that what happened in the March 18, 2023 Gubernatorial and House of Assembly elections in Taraba State was a disgrace to this great

country. The victory of our Party in Taraba State in the March 18, 2023 election was brazenly stolen in broad daylight, using some compromised security Agents.”

According to him, “When it was apparent that NNPP was coasting home to victory, some forces of darkness went into action, and not minding the costs, they embarked on a mission to just destroy the whole process.”

“At the end of day, they tried to achieve their evil plan at a very huge cost in terms of lives and properties they wasted in the process. We in NNPP, therefore, totally reject that PDP won the Gubernatorial elections in Taraba State.”

“This issue has already been taken up and details are available to INEC, and we urge the electoral umpire to urgently correct this injustice done to NNPP and our Governorship candidate to bring lasting peace and stability in Taraba State”

Nigerians have been urged to embrace blue economy as it remains the available option that can address the problem of unemployment in the country.

A retired High Court judge of Akwa Ibom State and Chairman, Governing Council, Marine and Ocean Academy,Justice

Arewa Youths: Osun Appeal Court Decision Victory for Democracy Segun Awofadeji inBauchi The Chairman, Arewa Youths for the Sustenance of Democracy and Good Governance, Alhaji Salihu Magaji has declared that the victory of Osun Governor, Senator Ademola Adeleke, at the Court of Appeal was victory for democracy.

Addressing a press conference

in Bauchi at the weekend, Magaji said the judgment of the appellate court was a resounding affirmation of the expressed will of the people of Osun State in their quest for purposeful leadership and good governance in the State.

The Court of Appeal last Friday upheld Adeleke’s victory at the July 16, 2022 Governorship election

after upturning the decision of the tribunal.

He said the jubilation in Osun and other states of the Federation was a testimony of the fact that Adeleke’s election was not only a reflection of the aspiration of the majority of the people of Osun State but also that of millions of lovers of democracy across the

nation.

The chairman said that since his inauguration in November last year, Adeleke had continued to demonstrate uncommon capacity for purposeful governance as evinced in his people-oriented and result-driven developmental projects in line with the yearnings and aspiration of the people.

Second Term: Makinde Promises to Work Harder for Oyo People

performance in the second term, respect of his re-election, held While speaking, the governor Olaitan in Ibadan LASTMA Nabs Fake Kemi said he had prayed to God that at the Living Spring Chapel said the members-elect had all State governor, ‘Seyi if he would not leave a good International, Ibadan, and come to show appreciation to Traffic Officer in Ikoyi Oyo Makinde, yesterday, said he legacy, God should not allow attended by chieftains of the God, expressing his appreciation Peoples Democratic Party (PDP), to the church of God for its would work harder to bring him to win re-election.

Rebecca Ejifoma

Operatives of the Lagos State Traffic Management Authority (LASTMA) over the weekend nabbed a serial fake traffic officer around the Ikoyi area of the state.

This was announced in a press statement by the Director of the Public Affairs Department of LASTMA, Mr. Adebayo Taofiq.

In the statement, the General Manager, Mr. Bolaji Oreagba confirmed that the suspect was caught at Olu Holloway Road in the Alfred Rewane area of Ikoyi by a LASTMA Monitoring/Surveillance team led by the Zonal Head, Mr. Ashafa Moyosore.

Oreagba said that the agency carried out special monitoring/Surveillance operations about the suspect and got him arrested in response to complaints

from the motoring public via LASTMA hotlines/social media handles.

An investigation conducted revealed that the arrested suspect had been extorting motorists of huge sums of money for various traffic offences ranging from seatbelt, obstructions, illegal over-taking and one-way at different locations around Lagos Island.

“It is disheartening getting complaints from road users, particularly motorists on activities of these unscrupulous elements impersonating and extorting money from them,” he added.

The GM therefore, urged the general public to be wary of fake traffic officers, stating that the agency operates a cashless policy as any violators apprehended are charged to court with a ‘Referral Notice’ issued to them.

more benefits to the people of the state in his second term of office.

The governor, who urged residents of the state not to entertain any fears about his

He added that his victory is a divine intervention and an urge to do more.

The governor stated this yesterday during a Thanksgiving Service in

top government functionaries and 28 members of the Oyo State House of Assembly elected on the ticket of the PDP in the March 18 Governorship and House of Assembly election.

support and prayers.

He said: “On behalf of all of us, I want to say thank you to the church, especially my brothers and sisters in Living Spring Church.

Skirmishes: Kwara Shut Down Ilorin International Market burglars. further breaking down of law and the government has restored Hammed ShittuinIlorin

The Kwara State Government hs ordered the shutdown of the International Mandate Market in Ilorin during the weekend.

The closure was attributed to the Saturday’s skirmishes between the security agencies and the market

During the incident, about 20 persons were said to have sustained serious injuries.

Men of the state police command and Nigeria Security and Civil Defence Corps were deployed to maintain peace at the market.

However, in order to avoid any

order, the state government urgently ordered the immediate closure of the market.

A statement that was issued in Ilorin and signed by the Kwara State Commissioner for Business, Innovation and Technology, Mr. Ibrahim Akaje, said: “Even though,

normalcy to the market after the initial tension and opportunist attacks by hoodlums on people’s properties, the government hereby directs temporary closure of the market for security reasons pending resolution of some issues that had triggered the disturbances.

Two Die, 10of Injured in Ondo Road Accident Akoko North-east Local ZAR 288 XF, coming from the on the road.

Fidelis David in Akure

Two people lost their lives while 10 others were injured in a fatal road accident which occurred at Jubilee Area in Ikare Akoko, the headquarters

Government Area of Ondo State yesterday.

The accident involved a Toyota Hiace 14-passenger commercial bus with registration number, Kaduna

northern part of the country.

An eyewitness told Journalists that the driver of the bus lost control of the vehicle and crushed some commercial motorcyclists

He said: “The driver seemed to be sleeping and lost control of the vehicle when he got to the Jubilee junction (in Ikare ).

He crushed some motorcyclists who were at the junction. “

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NEWS XTRA

ACCESS BANK’S INTERNATIONAL WOMEN’S DAY CONFERENCE…

Vice President, Customer Experience, Access Pensions, Ophelia Alex-Iwuanyanwu; Managing Director/Chief Executive Officer, Access Pensions, Dave Uduanu; Head, Brand Marketing and Communications, Access Pensions, Ada Akonobi and Executive Director, Technical, Afolabi Folayan, Access Pensions, at the Access Bank’s International Women’s Day conference in Lagos… recently

PDP Accuses INEC of Thump-printing Ballot Papers in Borno a Month after Election Michael Olugbode in Abuja Peoples Democratic Party (PDP) candidate in the Borno Central Senatorial election, Hon. Muhammed Kumaila, has alleged that the Independent National Electoral Commission

(INEC) were still thump printing ballot papers a monthº after the election.

Kumaila, who said this amounted to destroying and tampering with evidence that would be presented before the Election Petitions Tribunal,

Over 18,000 Persons Sign Petition to Ban ‘MC Oluomo’ from the US Sunday Ehigiator

No fewer than 18,000 Nigerians have signed a petition instituted

by Change.org, a worldwide petition website with over 400 million users, asking the United States of America to place a visa ban on the Chairman, Lagos State Motor Parks, Mr. Musiliu Adekunle Akinsanya, also known as “Mc Oluomo,” for allegedly inciting violence against the Igbo ethnic group in Lagos during the last concluded elections.

The petition, which is targeted

at 25,000 signatures, was set up a week earlier and has accrued a total of 18,093 signatures as of the time of filling in this report.

According to Change.org, “the recently concluded gubernatorial elections in Nigeria had a very powerful, popular and influential politician on video; inciting violence against the Igbo ethnic group in Lagos.

“Musiliu Adekunle Akinsanya also known as ‘Mc Oluomo’ made threats against Igbo voters, and violence was carried out against the Igbos on election day.

alleged that some adhoc staff of the commission in Borno were caught thumb printing and stuffing ballot boxes within the premises of Borno office of INEC in Maiduguri last Wednesday almost a month after

the Presidential and National Assembly elections were held.

Addressing journalists in Abuja at the weekend, Kumaila said following the outcome of the National Assembly election, where he lost to the candidate

of the All Progressives Congress (APC), Kaka Shehu Lawal, he had filed a petition before the Election Petitions Tribunal sitting in Maiduguri.

He added that he subsequently obtained a court

order to inspect materials used for the elections, which he said included the ballot boxes, used and unused ballot papers as well as obtain Certified True Copies of the result and collation sheets among others.

My Victory Made Possible by Divine Intervention, Says Otti Emmanuel Ugwu-Nwogo in Umuahia Abia State governor-elect, Dr. Alex Otti, has said that his victory at the poll was made possible by divine intervention given the array of forces that worked against him.

He said that a lot of forces

were hell bent on scuttling his long-standing governorship ambition but through the grace of God the opposing forces were defeated and he came out victorious.

Otti gave this testimony weekend at the Seventh-day Adventist Church, where he worshipped with a jubilant

congregation over his successful outing in the 2023 governorship election.

He said: “”If it is about the forces, we wouldn’t have been here. But God wanted to take the glory, the total glory. You may have the police, you have army, you have INEC, you have everything, but God says, this

is where He is going. If you like hit your head against the wall, that’s where He will go.”

The renowned economist and former bank chief executive had consistently contested the Abia governorship race since 2015 but success came his way this time around in his third attempt under the banner of Labour Party.

Naira Crunch: against NLCthe scarcity Berated over Planned Industrial Action of Naira NLC ia provocative, counter- Nigerians over the hardship

Blessing Ibunge in Port Harcourt

A Port Harcourt based Ace Comedian, Mr. David Sikpa, has condemned recent moves by the Nigeria Labour Congress (NLC) to embark on a nationwide industrial action from Wednesday to protest

notes in country.

It should be recalled that the President of NLC, Comrade Joe Ajaero, announced a planned nationwide strike that would begin on Wednesday.

Sikpa, in a statement he issued in Port Harcourt, described such moves by the

productive and self-serving.

He added that such initiative is anti-people because Nigerians have gone through severe economic hardship lately.

Sikpa noted that the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has apologised to

that was experienced as a result of the CBN’s policy and had further advised commercial banks to dispense simultaneously, both old and new currency notes in obedience with the judgment of the Supreme Court of Nigeria.

the Bayelsa State Education Development Trust Fund Board paid him a courtesy visit in Yenagoa.

Eruani, who is the president of the Azikel Group with subsidiaries of Dredging, Aviation, Power and Petroleum Refining, in response to the plethora of challenges itemised by the Bayelsa State Education

Development Trust Fund Board, made an instant donation of N10 million to the board.

He said the fund was to rekindle and facilitate effort towards achieving the mandate of the board.

A statement issued by his Media Assistant, Austin Ebipade, made available to THISDAY in Yenagoa, averred that the quality of his

primary education in Emadike in Ogbia Local Government Area was instrumental to his success in career and in business.

He submitted that many have doubted the reality that he schooled in his community, adding what they believe was that his early education was in Europe and the United State of America.

Osinbajo Departs for UK, to Deliver King’s College London Public Lecture Azikel Group President Restates Commitment to Education Deji ElumoyeinAbuja Vice President Yemi Osinbajo yesterday departed Abuja for an official visit to London, the United Kingdom.

Osinbajo’s media aide, Laolu Akande, said the vice president will be speaking today at the King’s College, London where he has been invited to deliver a public lecture following the school’s annual Africa Week 2023 events.

As a political and thought leader from Africa, Osinbajo’s lecture will focus on the question of how Africa can prosper in an increasingly complex world.

The vice president would be hosted as a Special Guest by the King’s College Africa Leadership Centre (ALC) and will confer with top officials of the prestigious institution ahead of his lecture which is expected to follow the theme of King’s College Africa Week 2023 namely “Changing Africa in a Shifting Global Landscape.”

Africa Week is an annual celebration of research, education and outreach activities on Africa. It brings together academics, researchers and students offering an opportunity to hear from African scholars, leaders and thinkers.

Samsung, Rifugio Launch Brand Store in Lagos Samsung Electronics West Africa (SEWA) in strategic partnership with Rifugio Communications Limited, has set up a brand store at the Banex Mall on Akiogun road, Lekki Phase 1.

According to the partners, the brand store would boost Samsung’s retail market expansion drive as the store boasts of a wide display of

various Samsung phones, tablets and accessories for consumers.

Managing Director of SEWA, Joy Tim-Ayoola, said that the new brand store is a centre where customers can come experience all Samsung product cutting across the consumer electronics and appliances and equally mobile devices, tabs and accessories.

Olusegun SamuelinYenagoa

The President of the Azikel Group, Dr. Azibapu Eruani, has restated his commitment to support efforts to consolidate education interventions in Bayelsa State, saying education remains the bedrock of a better society.

Eruani said this when

PEBEC: Gombe Retains Top Position as Easiest State for Business Segun Awofadeji in Bauchi The Presidential Enabling Business Environment Council (PEBEC) has released the second edition of the Sub-national Ease of Doing Business Report for 2023, which once again places Gombe ahead of the 36 states and the Federal Capital Territory(FCT).

According to a release by the Business Environment Enabling Council Report 2023 made available to THISDAY yesterday, Gombe, referred to as the Jewel of the Savannah, recorded a weighted score of 7.15 to emerge as the state providing the friendliest environment for business. Placed second is Jigawa State (6.79), followed in third by

Sokoto State (6.88)since 2017.

The PEBEC has been implementing reforms aimed at removing bureaucratic constraints to doing business and to make Nigeria a progressively easier place to do business.

It subsequently made a proposal to the National Economic Council to replicate the ease of doing business

initiative at the sub-national level, which was unanimously approved in July 2017.Nigeria’s Sub-national Ease of Doing Business (EoDB) Report was undertaken by the PEBEC to provide empirical information on the attractiveness of states’ business climates and to serve as a credible reference resource for businesses and investors.

MTN’s Funso Aina Wins Innovator of the Year Award Senior Manager, External excellent work that highlights announced by Provoke Media Arun Sudhaman said: “The Relations of MTN Nigeria, Funso Aina, has been announced ‘Innovator of the Year’ in the brands category at the SABRE IN2 awards.

Started since 2013, the SABRE IN2 awards recognise

the expanding scope of the PR profession, from content creation to the evaluation process using data and analytics to inform, enhance and evaluate campaign successes across the globe.

Aina’s recognition was

on February 15, 2023. The award was presented at the PRovoke EMEA Summit in Gesellschaftshaus Palmengarten Frankfurt, Germany last week.

Chief Executive Officer & Editor-in-chief, PRovoke Media,

media and communications industry is in the age of convergence, with every discipline demonstrating decent impressions to be most valuable to organisations and agencies.

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MONDAY, ͺͿ˜ ͺ͸ͺͻ ˾ T H I S D AY

MONDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Super Eagles Seek Revenge against Guinea Bissau

Femi Solaja After the stunning 1-0 home defeat in Abuja last Friday, Super Eagles will go in search of revenge against Guinea-Bissau’s Djurtus (Wild Dogs) this evening at the Estadio 24 de Setembro in Bissau.

Eagles need this win badly to reclaim the top spot of Group A and also steady their 2023 Africa Cup of Nations (AFCON) campaign back on track.

It was Mama Balde’s 28th minute strike that gave the visitor a surprise Famous win at the half-packed Moshood Abiola Stadium and shot the West African nation to the top of the log.

While Eagles boast household names in attack such as Victor Osimhen, Samuel Chukwueze and Moses Simon and created numerous chances, they simply lacked the precision and patience to break down Guinea-Bissau’s resilient defence.

With Sierra Leone now on five points after posting 2-0 away win at São Tomé yesterday, the pressure is now on Nigeria to avoid defeat this evening. A win is necessary to restore Eagles pride but more importantly, it will push the team back to the top of the log with two matches to play.

“We have to be at our best against the host in this next match but it is quite unfortunate that we could

A F C O N 2 0 2 3 Q UA L I F I E R not cancel that first half goal we conceded. We still have the rest of

RESULTS São Tomé 0-2 S’Leone Lesotho 0-2 Zambia

TODAY G’Bissau Ethiopia CAR Angola Niger S’Sudan Sudan Rwanda

v v v v v v v v

Guinea-Bissau coach, Baciro Cande, meanwhile, wants his team to forget Friday’s triumph and focus on securing another positive result against their heavyweight opponents.

Super Eagles are likely to be without defender Kevin Akpoguma, who suffered a head injury in Friday’s match and was replaced

by Semi Ajayi.

EURO 2024 England Malta Kaz’stan Lux’borg

2-0 Ukraine 0-2 Italy 3-2 Denmark 0-6 Portugal

NPFL Akwa Enyimba Kwara Plateau Remo Rangers Doma Rivers Wikki

2-0 Shooting 1-1 Insurance 2-0 Elkanemi 2-0 Gombe 1-0 Nasarawa 2-1 Bayelsa 2-0 Lobi 1-1 Abia War 1-1 Sunshine

again that will re-enact the golden moments that the team has always been synonymous with.

“Nothing spoil, we’ll bounce back! We keep cheering till the final whistle and let’s go @NGSuper Eagles #OmoluabiFC,” said a post on Goldberg’s Instagram page after the match and ahead of today’s Match-day four duel in Bissau.

Life, a fine-quality continental lager beer known for its deep connection to Nigeria's culture and history, is made for celebrations of progress in every phase of one’s life. By backing the Super Eagles, Life beer emphasizes its commitment to the nation's progress and its belief in the power of resilience and hard work to overcome challenges. Zagg Energy Drink, a recent addition to the Nigerian Breweries portfolio, is focused on providing its consumers with a boost of energy and mental focus.

Nigeria Women’s Cricket Coach Confident of Good Outing Nigeria’s National Female Cricket Team Coach, Leke Oyede, has assured stakeholders that the team is filled with confidence going into their first match at the 3rd NCF Women’s T20i Invitational Tournament starting today in Lagos.

“Our team is highly motivated and I am confident in the talent of the entire team. I also believe the past events offered us some lessons that we have adopted in our preparation for this edition,” he noted.

The opening match pitches Nigeria against West African rival, Sierra Leone in a game that will flag off the ten-day cricket fiesta at the Tafawa Balewa Square Cricket Oval in Lagos.

The event is supported by Access Bank, Lagos State Government, Alaro City, EKO Electricity Distribution Company, Lagos Intercontinental

lose games this way, so everything went bad for us. We deserved much more because we created chances and pushed the opponent back and could have scored five, six goals... it happens in football.”

He added, “If we put up the same performance like we did on Friday, we can beat them 3-0 at their place because one team can’t always have good luck all the time.”

Nigeria Guinea Madagascar Ghana Algeria Congo Gabon Benin Rep

Nigerian Breweries Plc Brands Rooting for Eagles' Comeback Super Eagles have been assured of total support from Nigerian Breweries Plc brands Goldberg, Life Continental, and Zagg Energy Drink, as they seek to bounce back after their surprise defeat to Guinea-Bissau in the Africa Cup of Nations (AFCON) qualifiers last Friday.

Though that defeat suffered by coach Jose Peseiro’s men left a bitter taste in the mouths of many, the Nigerian Breweries brands have expressed their commitment to the team and the belief that they will bounce back stronger and more determined in today’s reverse leg fixture in Bissau.

Goldberg, a high-quality lager beer with a smooth and appealing taste, has long been associated with fostering unity and celebrating the shared values of its customers.

The premium beer aims to inspire the Eagles to achieve great things

the matches in our hands,” observed Everton midfielder, Alex Iwobi just before the team’s departure for Bissau yesterday morning.

While the defeat is unlikely to affect Eagles’ ultimate qualification for the 2023 AFCON, they will nonetheless be hungry to set the

record straight – with coach Jose Peseiro hoping his team enjoy better luck and finishing this evening.

“I think we played very well in the first 30 minutes but didn’t score,” observed the Portuguese tactician. “It showed that our team is better than Guinea-Bissau. I can say bad luck was part of the reason we didn’t win.

“Sometimes the best teams can

Hotel Pets Foundation, Aries Suites, Pillar Oil, and Geregu Energy.

Later in the afternoon today, defending champions, Rwanda and the highest-ranked team in the tournament Ghana will play to round up activities for the opening day.

Chairman of the Local Organising Committee, Barrister Chuma Anosike said the event has become one of Nigeria’s biggest anchors for cricket development by the Federation.

“The NCF Women’s T20i Invitational Tournament allows us to showcase some of the work that is being done in different regions of the country to develop the game.

Today, despite not being popular as a cricket nation, a section of the 2.5 billion cricket audience is hooked on Nigeria to watch this very event,” he hinted.

Super Eagles players on their arrival in Bissau ahead of the AFCON 2023 qualifying reverse fixture today at the Estadio 24 de Setembro

FIFA WOMEN’S WORLD CUP TROPHY TOUR

Women Football Will Drive Equity, Inclusivity Worldwide, Says VISA NFF assures Nigerians on Falcons readiness for Women’s World Cup Olawale Ajimotokan in Abuja VISA, which is one of the FIFA partner of the 2023 FIFA Women’s World Cup, has said that the forthcoming tournament scheduled for Australia and New Zealand is an opportunity to promote equity, inclusivity as well as drive women agenda across the world.

The Country Manager, Visa Nigeria Andrew Uaboi echoed this yesterday at the Nigeria leg of the FIFA Women’s World Cup™ Trophy Tour at the Transcorp Hilton Hotel, Abuja yesterday where Visa cardholders and football enthusiasts were given exclusive viewing experience of the trophy.

Uaboi, who is also the Cluster Country Manager for Visa West Africa, noted that women football is practically growing as an activity across the world as well as opportunity for young women to exit poverty and make a name for themselves.

“The FIFA Women’s World Cup is growing in acceptance around the world and for us, it goes beyond just the football itself. Football is a sport that elicits a lot of passion, a lot of positive influence on people.

So for us, it is an opportunity for us to use the power of football to tell the woman the story of a woman by showcasing the ability to bring equity, inclusion and also give women an opportunity to have young women particularly an opportunity for something to grow and their goals and ambitions,” Uaboi said.

He said VISA is involved in sponsorship of football because the sport showcases the need for it to be able to drive the story of

gender inclusion, gender equity and opportunity to aspire towards success.

Also the Marketing Director, VISA, Mrs Seun Adaramola, expressed optimism that the forthcoming FIFA Women’s Cup will stimulate interest in football as well as inspire a whole generation of females to develop interest in football.

Meanwhile, the President of the Nigeria Football Federation (NFF), Alhaji Ibrahim Musa Gusau has assured Nigerians that the Super Falcons will be well prepared for the 9th FIFA Women’s World Cup finals which begin in Australia and New Zealand on July 20.

He gave the assurance yesterday at the Nigeria leg of the FIFA Women’s World Cup™

Trophy Tour in Abuja that was attended by the Australian High Commissioner to Nigeria, Leann Johnston, as well members of NFF Executive Committee; Aisha Falode and Rt. Hon. Margaret Icheen, the five-member FIFA team of Giulia Türkyilmaz, Alexa Sunderland, Felipe Chevita, Jot Jakher and Aurelien Fougere and Super Falcons’ captain Onome Ebi.

Edwards, Chukwudubem, Etoro Rule CBN Junior Tennis in Lagos Tennis Championship which took place at the Lagos Lawn Tennis Club, Lagos on Saturday.

The cadet players who are amongst the generation-next to take Nigerian tennis to the next level thrilled the well attended event with great tennis skills at such tender age.

Ogunsakin who is the youngest of the Ogunsakin kids, raced to three games lead before Edwards, the younger brother of reigning CBN Senior Tennis Open R-L: Winner of the Boys 14 category of the 18th champion, MaCBN Junior Tennis Open, David Edwards, CBN’s ryLove Edwards, Ag. Director of Corporate Communications, Dr fought back gamely Abdulmumin Isah and the runner up, Seyi Ogunsakin and stretched the shortly after the presentation of prizes to winners lead till the last game to end at 9-3. and runners up at the ceremony on Saturday Interestingly, the

David Edwards stunned Seyi Ogunsakin 9-3 in the final of the Boys 14 final to round up the 18th Central Bank of Nigeria Junior

two outstanding players of this edition of CBN Junior Tennis were Chukwudubem Ammssiani from Abuja and Etoro Bassey from the GEUF Tennis Academy in Akwa Ibom State.

Ammassiani, the Boys 12 defending champion had in the semifinal overcome a nerve-racking challenge from 5ft 10ins tall 12 year-old, Nathaniel Aluko, in a match which swung back and forth, with the Abuja-based young champion eventually winning 9-8.

Ammassiani then coasted through the finals against Wisdom Effiong from the GEUF Academy 9-3.

The promising tennis talent, given a wild card into the Boys 14s, to fast- track his progress, also reached the semifinals of the Boys 14, losing to runner-up Seyi Ogunsakin 9-7.

Bassey, who showed remarkable improvement, was hardly stretched by her opponents from the group stage to the finals where she beat Eunice Iorlumun from Benue State 9-5.

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MISSILE Shaibu to Festus Keyamo “Keyamo’s job as campaign Spokesman is officially over since the campaign has ended. But he is currently lobbying intensely for another appointment.

Keyamo is a paperweight politician, is afraid of being sidelined and is now sucking up to Tinubu. His latest vituperation is not borne out of patriotism but is part of his desperation to get an appointment from a government holding a stolen mandate that will soon be retrieved”– Atiku’s SA on Public Communication, Phrank Shaibu, castigates Keyamo for his virulence.

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MAHMUDJEGA VIEW FROM THE GALLERY

Like Sifisi, Like Elu Pi

O

f the many political salvoes fired on the Nigerian political scene last week, one that most heralded the shape of things to come was fired by the freshly minted Governor-elect of Abia State, Dr. Alex Otti. Three days after he won the Abia governorship on Labour Party’s [LP] platform, he said in a television interview that he did not win because of the party’s presidential candidate, Peter Obi. In his long acceptance speech, which was aired live on television, Otti did not mention Peter Obi’s name even once. It was puzzling because many analysts thought that Obi, who swept all five South Eastern states in the presidential election three weeks earlier, created a bandwagon effect on which Otti rose to power, but the former banker denied it.

Otti said, “In 2015 when I ran [for Abia governorship] under APGA, there was no Peter Obi. And we have it on our record that I won that election. At the time we were joining Labour Party, Peter Obi had not joined. It took a week before he called me and said that he purchased the presidential nomination form and he was coming to Labour Party… Peter Obi is a great addition to our campaign, but I can tell you that we won an election before in Abia without him.”

Several important political messages in there. Otti said according to his records, he won the Abia governorship election in 2015 even though it is outgoing governor Ikpeazu who was officially declared as winner. Either we accept official results or we do not. One cannot insist that he won the last election, when he was not returned, but gladly accept that he won this one, because he was officially returned.

What if other losing candidates in the 2023 election continue to insist for the next four years that they actually won this election in Abia but Otti was wrongly returned?

All over the country, we saw this dissonance in the past month in the attitude of the major opposition parties.

A party that rejected the results of the presidential election as rigged, nevertheless turned around and celebrated the victory of its Senate and House of Representatives candidates in the same election. Presidential candidates who were busy assailing the February 25 election as flawed were seen warmly receiving their party men and women who were victorious in the National Assembly elections that held the same day and time, by the same INEC, using the same BVAS, the same personnel, the same Electoral Act and the same election guidelines. I thought the two elections should morally swim or sink together.

Either they were all rigged, or they all reflected the wishes of voters.

Obi

Probably the most telling observation in the governorship and state assembly elections of March 18 was the steep decline of LP. Its presidential candidate won 11 states and Abuja on February 25 but three weeks later, the party won only one governorship election. If Dr. Otti’s claim is true that Obi’s stature had nothing to do with his victory, then LP fell from 12 states to zero in just three weeks. Of the four major parties in the presidential election, LP suffered the steepest decline.

I saw figures calculated by one analyst, that its votes fell from over six million in the presidential election to 600,000 in the governorship polls, whereas the total votes of APC, PDP and NNPP only slightly dropped. This was understandable because eight states and FCT did not vote for governors on March 18.

It was noticeable that Obidients did not question their party’s dismal performance in the governorship election nearly as vociferously as they protested the presidential election results. Why? Is presidency the only impactful public office in Nigeria? One can deduce that most Obidients were only concerned about winning the presidency. This is a very faulty premise in Nigerian politics, but not without precedent. In 2003 when INEC registered UNPP and NDP as new political parties, they did the same thing, raised a lot of dust about their presidential candidates Jim Nwobodo and General Ike Nwachukwu respectively, but had no governorship or senatorial candidates in many states. No wonder those two parties soon fizzled out. Elu Pi should learn a lesson from that history, that winning

governorship and legislative seats is an important part of preparations for the future, including the all-important issue of “structure.” Although LP propagandists tried to ridicule all talk about structure, anyone could see that lack of structure crippled the party in many regions in 2023 and, despite many odds, it was nationwide structure that saved APC. If it is any comfort for LP, there was another precedent in recent times. Almost exactly the same thing happened to the defunct Congress for Progressive Change [CPC] in 2011. Its presidential candidate Muhammadu Buhari won twelve states outright in the presidential election, only for Sifisi to win only one state governorship two weeks later. Umaru Tanko al-Makura, who won the Nasarawa State governorship on CPC’s platform in 2011, could have more justifiably said what Otti said last week, that he did not win because of Buhari. It would have sounded more true because Nasarawa was not one of the 12 states that Buhari won, whereas Obi did win Abia in 2023. Loyal partyman Al-Makura however never said so. Like Obi, Buhari also believes to this day that the 2003, 2007 and 2011 elections were rigged and that the first credible election was the one he won in 2015. He said as much on the day he collected his Certificate of Return.

Another aspect of Otti’s remarks also reminds me. In Nigerian politics, there is a certain element of danger for a party’s national leaders when the party has only one or even a few state governors. The party easily falls prey to an upside-down leadership arrangement where the governor becomes its effective leader. He tends to overshadow its national executive officers and its former presidential candidate. Mr. Peter Obi is very familiar with this because that was what happened in APGA. With only the governorship of Anambra for most of its existence, first Obi, then Willie Obiano and now Prof Charles Soludo became its effective national leader. There was this recent interview by former APGA national chairman Chief Victor Umeh, where he said that for years, he pleaded with Obi to hold local government elections in Anambra so that the party will have some more elected public officials, but he refused.

In APGA, no one towers above its lone governor [at one time it had two, plus Rochas Okorocha of Imo].

Actually, LP had a state governor in 200816, Olusegun Mimiko of Ondo. He became synonymous with the party and completely overshadowed its national leaders, until he later returned whence he came from, to PDP. In the 2007 election, Orji Uzor Kalu’s PPA party won the governorships of Imo and Abia, but both governors soon defected back to PDP. It was alleged at

the time that it was Kalu’s overbearing nature that drove the men, Ikedi Ohakim and Theodore Orji, out of the party. At least, unlike Otti, Orji could not say that Kalu’s stature had nothing to do with his victory in Abia because he was in fact cooling his heels in prison on the day he was elected governor. There was even much discussion on TV at the time as to what would happen on Inauguration Day. I remember one lawyer saying on NTA that the Chief Judge of Abia State would have to enter the prison and swear in Orji, after which he will gain immunity from arrest and walk out of the cell!

There are lessons here for NNPP, the other party that, like LP, grabbed only one state governorship in the 2023 election.

In 2015, departing Kano State governor Rabi’u Kwankwaso played the political gentleman and anointed his two-time deputy governor Abdullahi Ganduje to succeed him. They had a nasty quarrel soon afterwards, so this time around, Kwankwaso plotted the succession more carefully. He anointed his son-in-law and former commissioner, Abba Kabir Yusuf, popularly known as Gida Gida, who won the election on March 18. Again unlike Otti, Gida Gida never said Kwankwaso was not a factor in his victory. Gida Gida got only slightly more votes on March 18 than Kwankwaso got on February 25.

Now, if Kalu was said to be so overbearing that he pushed two governors out of his party, Kwankwaso, from the look of things, is several times more forceful, much more combative and a much more hands-on party leader than Kalu ever was. Nor is he very magnanimous in victory. I saw a video last week where he was saying he could have ordered NNPP thugs to storm the Kano Government House, bring out Ganduje and “eat him like carrot.” Storming the Government House could have meant a lot of dead Kwankwasiyya men. It was true to type because in 2011 when he was re-elected to his second term as governor, Kwankwaso said in an interview that his main regret was that “I defeated [Malam Ibrahim] Shekarau’s boy [Sagir Takai]. I wanted to beat him himself.”

Kwankwaso should tread carefully because Kano has a history of nasty clashes between party leaders and anointed governors. The fall out in the Second Republic between PRP national leader Malam Aminu Kano and Governor Mohammed Abubakar Rimi left a permanent imprint in Kano politics between the so-called Tabo and Santsi factions. A godfather is not safe even with his own son as governor, as the political fallout in Ilorin in 2011 between Oloye Olusola Saraki and his son, Governor Bukola Saraki showed.

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