WEDNESDAY 29TH MARCH 2023

Zenith Bank’s Gross Earnings Rose By 24% to N945.5bn in 2022 Kayode Tokede Zenith Bank Plc has announced its audited results for the year ending December 31, 2022, achieving an impressive double-digit growth of 24 per cent in gross earnings, from N765.6 billion reported in the previous year to N945.5 billion in

2022.

This was despite the persistent challenging macroeconomic environment and headwinds.

According to the audited financial results for the 2022 financial year presented to the Nigerian Exchange (NGX), the double-digit growth in gross earnings was driven by a 26

per cent year-on-year (YoY) growth in interest income from N427.6 billion to N540.2 billion and a 23 per cent year-on-year (YoY) growth in non-interest income from N309 billion to N381 billion.

Profit before tax also grew by two per cent from N280.4 billion to N284.7 billion in the current year.

The increase in profit before tax was due to the significant growth in all the income lines.

It also showed that impairments grew by 107 per cent from N59.9 billion to N124.2 billion, while interest expense grew 63 per cent year-on-year from N106.8 billion to N173.5 billion, respectively. The

bank explained that the impairment growth, which also resulted in an increase in the cost of risk (from 1.9% in 2021 to 3.3% in the current year), was due to the impact of Ghana's sovereign debt restructuring programme.

The growth in interest expense increased the cost of funds from 1.5

per cent in 2021, to 1.9 per cent in 2022, due to hikes in interest rates globally.

Zenith Bank’s customer deposits increased by 39 per cent, growing from N6.47 trillion in the previous year to N8.98 trillion in the current Continued on page 12

Buhari, Gbajabiamila, Wase, Sanwo-Olu, Bello, Others Rejoice with Tinubu at 71... Page 38 Wednesday 29 March, 2023 Vol 28. No 10213. Price: N250

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Election Petition: PENGASSAN Vows to Hold Judiciary Accountable... Page 37

SGF: Court Processes Won’t Stop Transfer of Power on May 29 Tinubu nominates Bagudu, Edun into presidential transition council

Olawale Ajimotokan in Abuja Secretary to the Government of the Federation, Mr. Boss Mustapha, has

assured Nigerians that a formal transition of power to the elected government on May 29 would not be truncated by the spate of

litigations challenging the conduct of the presidential election held on February 25.

Mustapha gave the assurance

yesterday when he updated the media during the fifth sitting of the Presidential Transition Council (PTC) in Abuja.

The SGF, who also heads the PTC, said the formal handing over to the elected government on May 29 was a constitutional

matter, adding that, all petitions about the conduct of the election, Continued on page 12

In Medicine After Political Death, Ayu Steps Aside, Damagum Takes Over Igyorov ward exco insists signatures to suspension order forged PDP nominates Saraki, others into ad hoc c’ttee to conduct guber primary for Kogi, Imo, Bayelsa Ex-chairman’s reign has ended in our party, Wike declares He was behaving like a headmaster, George recalls Nnamani says he was an evil that befell the opposition

Story on page 12

CLOSING BELL TO COMMEMORATE GEREGU LISTING ON THE EXCHANGE...

L-R: Deputy Chief Executive Officer, Geregu Power Plc; Julius Owotuga, Managing Director/CEO, Central Securities and Clearing System (CSCS) Plc, Haruna Jalo-Waziri; Director, Nigerian Exchange Limited (NGX), Faruk Umar; Divisional Head, Capital Markets, NGX, Jude Chiemeka, Chief Executive Officer, Geregu Power Plc, Akin Akinfemiwa; Director, NGX, Erelu Angela Adebayo; Chief Digital Officer, NGX, Olufemi Oyenuga; Chief Executive Officer, NGX; Mr. Temi Popoola; Group Chairman, Geregu Power Plc; Mr. Femi Otedola, CON, Group Chairman, Nigerian Exchange Group plc; Umaru Kwairanga, Independent Director, Geregu Power Plc; Mr. Anil Dua, Independent Director, Geregu Power Plc, Mr. Doron Grupper, Independent Director, Geregu Power Plc, John Lee; Former Managing Director, Flour Mills of Nigeria plc and Independent Director, Geregu Power Plc, Paul Gbededo, Director, Geregu Power Plc, Olawunmi Otedola and Director, Geregu Power Plc, Chris Adeyemi, during a Closing Gong ceremony of Geregu Power Plc to commemorate as a listed company on NGX in Lagos... yesterday.

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

NEWS

FAREWELL FOR AMBASSADOR LEONARD...

L-R: US Consul-General, Wills Stevens; Founder, Stanbic IBTC Bank Plc, Atedo Peterside; Outgoing United State Ambassador to Nigeria, Mary Beth Leonard; Managing Director, Azura Power West Africa Limited, Edu PHOTO: ABIODUN AJALA Okeke and Publisher, Businessday Newspaper, Frank Aigbogun during the Send off party in honour of the outgoing US Ambassador by the US Consulate in Lagos...recently

NNPC Begins Exploratory Drilling Campaign in Nasarawa, to Grow Reserves to 50bn Barrels Buhari: Oil exploration in Middle Benue trough will lead to greater prosperity, energy security Sylva assures project will benefit from frontier fund

Deji Elumoye and Emmanuel Addeh in Abuja The Nigerian National Petroleum Company Limited (NNPC) yesterday officially kicked off the exploratory drilling campaign in Obi, Nasarawa State, with the assurance that the effort would contribute to its aspiration to grow the country’s crude oil reserves to 50 billion barrels, from the current 37 billion barrels.

Speaking at the ‘spudding' of the Ebenyi-A Well, the first in the Middle Benue Trough, President Muhammadu Buhari, said the move was in line with the ongoing campaigns for the exploration of crude oil and gas in the nation’s frontier basins.

The president listed the assets the nation intends to explore as those

in the Chad Basin, Dahomey Basin, Anambra Platform, the Calabar Embankment, Sokoto Basin, Bida Basin, Benue Trough as well as the Ultra-Deepwater Niger Delta.

Besides, the president who attended the event virtually, stated that the exploratory efforts were consistent with the commercial discoveries of hydrocarbons in the Kolmani area of the Upper Benue Trough.

“I am pleased to note that activities are currently ongoing to develop the Kolmani petroleum discoveries to commercial production to add to the nation’s considerable hydro-carbon assets.

“I am encouraged by the enormous work done by NNPC Limited to exploit the prospects in the Middle Benue Trough, leading to the event of today,” Buhari noted.

While lauding the commitment of the NNPC, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and other partners for their immense contributions towards making the event possible, the president expressed the hope that the consequent positive outcomes of the drilling campaigns will lead to greater prosperity and enhance overall energy security for Nigeria.

He added that the surrounding communities would particularly benefit from the value that would be created by the exploration and eventual production activities and admonished NNPC and its partners to take due care of the environmental consequences of the oil exploration activities and to mitigate the negative effects.

He further thanked the govern-

ment and people of Nasarawa State- the host community- for their unfettered support and collaboration towards the success of the exploration campaign.

Also speaking, the Group Chief Executive Officer of the NNPC, Mallam Mele Kyari, described the event as a special occasion, explaining that it was part of the execution of the president’s express mandate for the NNPC to pursue exploration in the frontier inland Basins with vigour.

Kyari added that the mandate targets growth of hydrocarbon reserves in the country with the ultimate aim of enhancing national energy security and associated economic benefits to the people.

While highlighting that exploration in the mid Benue trough commenced

Senate Extends 2022 Budget Implementation to June Sunday Aborisade in Abuja The Senate yesterday extended the implementation of the capital component of the 2022 budget from 31st March, 2023 to 30th June, 2023 The extension followed a lead debate by the senate leader, Senator Ibrahim Gobir (Sokoto East-Senate Leader) requesting the upper chamber for the amendment of the Appropriation act 2022.

Gobir, in his presentation said the bill sought to amend the 2022 Appropriation Act and 2022 Supplementary Appropriation Act to extend the implementation year from March 31 to June 30.

He pointed out that the National Assembly had extended the implementation of the 2022 appropriation Act from December 31, 2022, to March 31 ,2023.

This, he said was to allow full implementation of the budget, given the approval of supplementary budget approved in December 2022.

He said the extension had allowed Ministries Department and Agencies(MDAs) to use a large proportion of funds released to them.

He, however, said significant amounts of funds remained with MDAs and would require a further extension to be fully extended.

He said given the critical importance of some key projects nearing completion, request for further extension of the expiration clause in the Appropriation Act and the

long title explanatory memorandum of the supplementary Appropriation Act was expedient.

This, Gobir said was to avoid compounding the problem of abandoned projects, given that some of the projects were not provided for in the 2023 budget.

Gobir, urged senators to support the bill to allow full utilisation of the capital releases to help reflate the economy The lawmakers relaxed their standing rules to grant accelerated consideration and approval to enable it read the bill for the first, second and third time before its passage.

The Senate leader explained that the extension would enable the government to implement key projects in the capital component of the 2022 budget and allow for the completion of ongoing projects critical to the current administration.

He said, "You will recall that the National Assembly extended the implementation of the 2022 Appropriation Act from 31st December 2022 to 31st March,2023.

"This was to allow full implementation of the budget, especially in the light of the 2022 Supplementary budget approved in December 2022 the extension had allowed MDAs to utilise a large proportion of funds released to them.

"However, significant amounts of funds remain with MDAs and will require a further extension to be fully expended.

"Giving the critical importance of some key projects nearing completion, requesting a further extension of the expiration clause in the Appropriation (Amendment) Act, 2022 and the Long Title and Explanatory Memorandum of the Supplementary Appropriation Act is expedient to avoid compounding the problem of abandoned projects, given that some of the projects were not provided for in the 2023 Budget."

In his contribution, Senator Gabriel

Suswam (PDP, Benue Northeast), backed the request to extend the budget.

He, however added that it should be spelt out that the 2022 budget would run concurrently with the 2023 Appropriation Act The senate later dissolved into, "Committee of Supply" to consider the report before it eventually approved and passed the request to extend the life of the 2022 budget till June 30th, 2023.

over a decade ago, he pointed out that since 2010, the NNPC had executed several geophysical activities, applied niche technologies and conducted integrated studies, leading to the firming up of the Ebenyi-A well.

The GCEO restated that findings were very indicative of potential commercial hydrocarbon discovery in the area.

“Today, we have mobilised the drilling rig to this site, here in Obi Local Government Area of Nasarawa State. We are optimistic that the positive outcome of this campaign will contribute to the national aspiration of increasing our hydrocarbon reserves from 37 billion barrels to 50 billion barrels, in the short to medium term and increase our crude oil production to a target of 3 million barrels (per day).”

He noted that the NNPC in conjunction with the NUPRC were committed to conducting exploration activities of the nation’s frontier basins that span the aforementioned basins using the best industry standards and technologies.

He further mentioned that the mobilisation for re-entry into the Chad Basin had commenced as directed by the president even as the NNPC progresses other activities in the Frontier Basins.

Kyari assured stakeholders that the NNPC will conduct the operation with the utmost care and attention to health, safety and environmental

issues.

“We understand the responsibility that comes with exploring and exploiting natural resources, and we are committed to doing so in a way that will best benefits our country and its people.

“As NNPC Ltd we commit to leading practices and highest standards in the course of our operations and would be engaging in Impact Assessment studies during and after operations to mitigate possible effects of our exploration activities.

“We will also engage the host communities as major stakeholders and execute Community Assisted Projects in line with NNPC Ltd Corporate Social Responsibility policies and provisions of the PIA,” he added.

In his remarks, the Minister of State, Petroleum Resources, Timipre Sylva, stressed that the event marked another milestone in the decades of hydrocarbons exploration in the inland frontier basins.

The minister, who was represented by the NUPRC Chief Executive, Mr. Gbenga Komolafe, explained that the development underscored the efforts of government in ensuring that requisite investments were made in the frontier basins exploration in Nigeria.

He paid tributes to Buhari for mitigating energy poverty in the country as well as the NNPC board and the people of the state, stressing that he was sure of the success of the project.

Otedola: Geregu Power Committed to Maximising Shareholders' Value Goddy Egene and Kayode Tokede The Executive Chairman, Board of Directors, Geregu Power Plc, Mr. Femi Otedola, yesterday restated the commitment of the company towards delivering improved performance.

He stressed that the power company was taking necessary steps to expand its capacity in order to maximise shareholders' wealth.

Otedola stated this while speaking at the “Closing Gong ceremony” and commemoration of the first Annual General Meeting (AGM) of the company on the floor of the Nigerian Exchange Limited (NGX) in Lagos.

He called on the incoming administration to do all it could

to tackle power sector challenges.

He noted that even though the power sector has its challenges, the incoming government could set its priority on tackling the challenges in the sector.

According to him, the power sector had been faced with a lot of problems, noting, however, that the problems are surmountable.

Otedola explained that the major problem was transmission, saying that if the power sector was well organised it would be cheaper and have a lot of positive impact on the manufacturing sector and the entire economy as a whole.

“I believe we are now at the stage that the power sector will get a lot of attention. We have new plants.

Our problem is transmission, there is need to look in this direction.

“We are in a stage where the new government can come and tackle the challenges in the power sector and hopefully there will be positive results. So, what is needed is to seek investors who have knowledge of the private sector to work on these challenges. We had come to the exchange to list for the very first time. The first power company to embark on an aggressive 300 per cent expansion drive; the first company to release its financial result and so I am happy to be here," he said.

Whilst expressing delight over the company's first year anniversary as a listed company, he emphasised that for any company to sustain its wealth, there was need for it to be listed on the stock exchange.

Also speaking, the Chief Executive Officer, Geregu Power Plc, Mr.

Akin Akinfemiwa, acknowledged the NGX and stockbrokers for their support during the listing of the company and trading of the company’s stocks on the bourse.

“We have come today to state our unflinching commitment towards upholding the values and ethos of the exchange. We are doing everything within our means to expand our capacity towards maximising shareholders' value,"Akinfemiwa said.

On his part, the Chairman, NGX, Alhaji Umaru Kwairanga, commended Geregu Power Plc for showing good example in adhering to the post-listing requirements.

He urged more power companies, among others to come on board and get listed so that they can also benefit from the capital market.

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NEWS

A NEW PDP CHAIR RESUMES AT WADATA PLAZA...

L-R: National Publicity Secretary, Peoples Democratic Party, Debo Ologunagba; the new Acting National Chairman, Amb. Illya Damagum and the national Secretary, Senator Samuel Anyanwu at a press briefing... yesterday

Adebayo: FG Promoting Public-Private Investments in Cold Chain Sector to Reduce Post-Harvest Losses Marz: At €346m in 2021, Nigeria is largest investor in food, packaging technology in Africa Dike Onwuamaeze The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, has announced that the federal government has been encouraging public-private partnership and investments that would provide lasting solutions to cold chain challenges in Nigeria in order to reduce post-harvest losses of food and vegetables.

Adebayo made this known yesterday in Lagos, when he delivered the keynote address at the 5th West African Cold Chain Summit and Exhibition (WACCSE 2023), that was organised by the Organisation for Technology Advancement of Cold Chain in West Africa (OTACCWA) and partners.

The WACCSE was held in conjunction with Nigeria’s 8th International Trade Exhibition on Agrofood, Plastics, Printing and Packaging Nigeria 2023 that would run between March 28 and March 30.

He stated that government was investing heavily to close the energy gap in order to build a sustainable cold chain network in Nigeria and Africa.

The minister said: “Additionally, government is encouraging publicprivate partnerships, to find lasting solutions to cold chain challenges in Nigeria and African trade. This summit is a required catalyst for change, as a great opportunity to bring together critical stakeholders and professionals, showcase the latest capabilities of the global supply chain and allied industries, as well as proffer thought leadership for sustainable solutions provision.

“Government will continue to encourage innovative strategies in the main sub-sectors that constitute cold chains, in order to mitigate the several detrimental economic and environmental effects.

“We encourage stakeholders to invest in the cold chain sector, which can be highly profitable and reap from the economic benefits which abound.

“We are optimistic that if the public and the private sectors work together to uplift the cold chain industries to international standards, it would assist in the diversification of the Nigeria economy, improve job and wealth creation, enhance infrastructural development and technological innovations in the overall interest of the Nigerian and African economy.”

Adebayo said post-harvest losses had been identified as one

of the major problems facing the agricultural sector in Nigeria and Sub-Saharan African.

He said: “You will agree with me that output from this cold chain submit and exhibition is auspicious for the wellbeing of Nigeria and African; with its goal of finding solution to post harvest losses (PHL) in Nigeria and across sub-Saharan Africa, “Recent studies report PHL data as high as 60 per cent, especially for food and vegetables; resulting in low income for the producers and high price points for the produce.

“Globally, perishable commodities are made sustainable through efficient management of cold chains (CC), which plays a significant part in modern global perishable industries as it impacts on storage, transportation and distribution, related services and to ensure low cost.”

The President of OTACCWA, Mr. Alexander Isong, said his organisation has been able to make strides in focusing the government and the country on the need to develop the cold chain industry, which would have domino and multiplier effect on the economy.

Isong said: “Cold chain has the characteristics to grow the economy and all the developed and thriving economies of the world have gotten cold chain right.”

Delivering the welcome address at the opening event of Nigeria’s 8th International Trade Exhibition on Agrofood, Plastics, Printing and Packaging Nigeria 2023, the Managing Director of Fairtrade Messe, Mr. Paul Maerz, said that global technology leaders from 17 countries were assembled in Nigeria to showcase adapted technologies and solutions for the Nigerian and West African market in the fields of agriculture, food, beverage processing, ingredients, plastics, printing and packaging.

Maerz said these exhibitors came from Austria, Bulgaria, China, Côte d’Ivoire, Germany, France, India,

Italy, Lebanon, the Netherlands, Nigeria, South Africa, South Korea, Spain, Türkiye, Taiwan, United Kingdom, and the USA. He said for the first time the MFI Awards would be hosted alongside Agrofood and Plastprintpack and WACCSE 2023.

According to him, the MFI Awards Ceremony was cosponsored by the MFI Micronutrient Fortification Index and powered

by TechnoServe via a Bill and Melinda Gates Foundation sponsored initiative, the Technical Assistance Accelerator Program.

He said: “To highlight the importance of the Nigerian

The Emir of Kano, Alhaji Aminu Ado Bayero, yesterday advised the Central Bank of Nigeria (CBN) and commercial banks not to be in a haste in implementing the cashless policy.

He stressed the need for a step-by-step implementation of the policy so as to carry bank customers along and also enable them familiarise with the policy.

Bayero said although the policy was good and would bring about positive development to the country, it had plunged people into suffering because it was introduced without giving bank customers enough time.

The traditional ruler said this yesterday, when a team of the Bankers’ Committee paid a courtesy visit to his palace.

According to the Emir, instead of

for imports of printing and paper technology, behind Egypt, but well ahead of other African countries.

“With €151 million in 2021, Nigeria is among the three largest investors in packaging technology in Africa, in line with South Africa and behind Egypt, ahead of Algeria, Morocco, Tanzania, Tunisia, Ethiopia, Ghana and Kenya.

“The enormous population growth from 206 million in 2022 to 411 million in 2050 demands high sustainable investments in Nigeria’s agrofood and plastprintpack industry.

“The figures underline the importance of the Nigeria agrofood & plastprintpack market.”

Edo, FG to Begin Construction of N8bn Jattu Dam to Provide Portable Water in State Obaseki underwrites 25% of the project sum Says youths must be allowed to chart path to better future, sustainable devt Edo State government and the federal government are set to begin the construction of Jattu Dam, in Etsako West Local Government in Edo State to provide potable water for residents and enhance

all-year-round farming in the area.

This was disclosed by the Minister of Information and Culture, Alhaji Lai Mohammed while briefing journalists in Abuja He said the Ministry of Water

Emir of Kano Advises CBN to Review Cashless Policy Implementation Ibrahim Shuaibu in Kano

market, I would like to mention some figures: with €346 million in 2021, Nigeria is the largest investor in food and packaging technology in Africa, ahead of Egypt, South Africa, Algeria, Morocco and all other African countries.

“With €165 million in 2021, Nigeria is the second largest importer of plastics technology in Sub-Sahara Africa, just behind Egpyt (€202m) and well ahead of South Africa.

While Nigeria’s plastics technology import increased averagely by 25 per cent per year between 2016 and 2020.

“At €50 million in 2020, Nigeria ranks second in sub-Saharan Africa

rushing the policy, the banks should embark on public enlightenment and awareness about the positive changes bank customers stood to get if they embrace the policy. He also advised them to get feedback from people as it would help them to succeed in the policy.

“People have suffered so much as a result of this policy. This is because people were rushed into it. So now that you are here, we advise that you should look into the challenges people are facing and consider reviewing the implementation process.

“Take it easy and steady for people. You cannot do this in a haste, people need time to accept and get acquainted with the policy.

“Every good change is like this, people hardly accept it at once. You should also consider people in the rural areas because they suffered the most during this hard time.”

He advised that the e-Banking system should be improved as it also contributed to the challenges people were facing, adding that, “You should liaise with the phone and SIM companies to ensure that the process is made easier for people.”

Speaking earlier, a Deputy Director of the CBN, who was also the team leader, Muhammed Hamisu Musa said the essence of the visit was to seek for the blessings of the Emir and also to urge him to enlighten the public to embrace cashless policy because it has come to stay.

The Deputy Director added: “We know that culture change is not easy, that is why we are trying to take it gradually on people so that they will accept the policy. We are trying to bring out the benefit of the policy at least it will motivate them to accept the policy.”

Resources got approval from the Federal Executive Council to award the contract for the construction of the dam.

Mohammed explained that the Edo State Government had undertaken to underwrite 25 per cent of the N8 billion contract sum, which translates to N2 billion.

Reacting to the FEC approval, Edo State Governor, Mr. Godwin Obaseki, noted that the project was crucial to the state, as it would deliver portable water and drive productivity in Edo North Senatorial District of the state.

He added that the N2 billion contribution to the project was targeted at fast tracking the project's delivery even as all other support necessary for the realisation of the project would be provided when the construction commences.

Meanwhile, Obaseki, has made case for youth participation in governance and politics, reiterating the need to provide young people with the opportunity to chart a roadmap that outlines their yearnings and aspirations for a better and more prosperous nation.

Obaseki, while speaking to journalists in Benin City, said his government remains committed to youth development and will sustain investments to empower them, providing the youths with the right environment and infra-

structure to live life to the fullest.

The governor said youths made a bold statement with the last presidential election and must now be supported and given the opportunity to contribute to charting their own future and the roadmap that will put the country on the path of growth and development.

He said, “First, I think we must acknowledge the power of youths.

You see their methods and what happened in our last elections.

The changes you have seen in our political landscape are being driven by the youth. I am one politician who has always highlighted this because I work with a lot of young people. I believe in them; I see their energy and intellect.”

The governor further noted, “It’s about them and I believe we should hand over to them.

We have done our time but unfortunately, Nigeria has not attained its full potential. To date, we are still talking about the potential of the country. Let the younger people take over and use their energies to create the Nigeria they will live in.”

Obaseki, however, urged the young people not to lose hope in the country, but to remain united and work together towards a progressive and prosperous Nigeria.

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NEWS

8TH EDITION OF NIGERIA AGROFOOD AND PLASTPRINTPACK INTERNATIONAL CONFERENCE...

L-R: Vice President/Chairman Lagos Chambers of Commerce and Industry Trade Promotion Board, Engr. Leke Kupoluyi; Group Managing Director/Chief Executive Officer, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; Managing Director, fairtrade Messe, Paul Maerz; Honourable Minister, Federal Ministry of Industry, Trade and Investment, Otunba Adeniyi Adebayo (CON); President, Nigeria Agribusiness Group (NABG), Dr Emmanuel Ijewere; and President, Organization for Technology Advancement of Cold Chain in West Africa (OTACCWA), Alex Isong, at the opening day of the 8th edition PHOTO: KOLAWOLE ALLI of Nigeria Agrofood and Plastprintpack international conference held at the Landmark Events Centre, Victoria Island, Lagos... yesterday.

Ngige: Govt Has Arrested NLC's Planned Protest Over Naira Scarcity Says unemployment more than quadrupled since 2015 Labour suspends planned industrial action Deji Elumoye and Onyebuchi Ezigbo in Abuja The federal government has disclosed that it has stopped the planned protest by the Nigeria Labour Congress (NLC) over the hardship being faced by Nigerians to access the naira from their banks.

This was just as the organised labour has extended the deadline given to the federal government to restore normalcy in the availability of cash for transactions in the country by two weeks.

The two labour centres - NLC and the Trade Union Congress (TUC) who addressed a joint press conference in Abuja, yesterday, said there had been some noticeable progress in the effort by government to solve the problem of cash squeeze across the country.

The NLC had last week given

the federal government a seven-day ultimatum to cause the CBN and the commercial banks to end the cash scarcity, failure of which it had warned of a nationwide protest and the picketing of the apex bank’s branches from today.

Speaking at a news briefing at the State House, Abuja, yesterday, the Minister of Labour and Employment, Dr. Chris Ngige, stressed that the threat of the protest by the NLC against the Central Bank of Nigeria, over naira scarcity, has been arrested.

According to him, dialogues, coordinated by his ministry, had taken place between the parties involved and the CBN had taken steps to remedy the situation.

His words: “Now they have all answered our calls because we are the Chief Conciliators. In my opening remark, I said I’ve noticed that there’s already a dialogue going on and

there’s also implementation and the Nigerian Labour Congress agreed that there was some thawing at the surface of the icing that was there.

“They said they will call up their National Executive Council meeting because the initial decision to give that ultimatum was given by this same Council. Members of the Council reside in the states and in the local governments, so that they will come up today, which is Tuesday, the 28th, to review the situation because much as it is, the important thing is that we have emphasised to them that we have apprehended this dispute.

“By Section 7:8 of Trade Dispute Act, once the Minister apprehends and starts conciliation on it, you maintain status quo ante bellum.

So they have gone back now to review the situation. If they're not satisfied with what they're see, they

will come back to me and I'll invite the CBN again.

“But for now, the issue of discussion is no longer strike, the issue of discussion is implementation and how far it’s gone and how far it affects Nigerian workers and the general population.

“So that is it, the final decision will be done today by NEC and they will then do a resolution, of course, inform me and CBN what their resolution is. But like I said, we have apprehended and we are now conciliating.”

Ngige also revealed that as a result of the recessions the economy suffered in 2025 and 2020, unemployment in Nigeria has more than quadrupled in the last eight years.

He, however, stressed the need to make efforts to stem the negative impact on the economy and the active population of the country.

N750 Petrol Rate: NMDPRA Calls for Caution, Says Regulator Won’t Cap Pump Prices Emmanuel Addeh in Abuja The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) yesterday called for caution on information doing the rounds that the pump price of petrol will rise to N750 if subsidy is removed by June this year.

Speaking on Arise News last night, the Authority’s Executive Director, Distribution Systems, Storage & Retailing Infrastructure, Ogbugo Ukoha, also explained that the sector regulator will not be putting a price sealing on petrol prices.

Speaking at a session recently, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Chinedu Okoronkwo, who was represented by IPMAN’s National Operations Controller, Mr. Mike Osatuyi, had revealed that Nigerians should prepare to pay up to N750 for every litre of petrol after the full implementation of the subsidy removal.

The 18-month period deferment of the deregulation of the downstream of the Nigerian oil and gas sector by the Muhammadu Buhari administration is expected to expire in June 2023 and the incoming government will have to deal with the consequences

if it takes the decision within its first few weeks of taking over the reins of government.

However, Ukoha argued that bandying prices around will not do the market any good, insisting that while the NMDPRA will not put price caps on fuel prices after deregulation, it will continue to enforce certain cost benchmarks.

“I will caution that it's unhelpful when we rush into speculating what prices might be, we can speak about the variables that will contribute to ultimately what the price will be and how we can mitigate that as well.

“But ultimately, prices will be will be determined by the forces of demand and supply and market forces. But we will not cap prices. I tell you what we will do: the Petroleum Industry Act (PIA) in Section 32 and 33 gives the authority clear powers to develop cost benchmarks and pricing frameworks.

“In real terms. We're working towards how we can mitigate and eliminate cost inefficiencies. And I can list many cost of inefficiencies. We will for instance borrow a leaf from our neighbours who have worked with the Central Bank to create pools because if you can dedicate sourcing of dollars it will also reduce the exposure.

“And once the refineries are working, you will also protect the naira from the shocks of the international market,” he noted.

Ukoha further argued that the price differences among states may not be markedly different, and will just be in terms of a few

naira difference.

“First of all, when we remove or eliminate some of the costs inefficiencies, I do not expect that the differences will be much, just here or there and might be a question of a few naira and kobos in terms of transportation costs,” he stated.

Said he: “The triple issues of unemployment, poverty and economic disempowerment have remained a disturbing feature of the Nigerian Life. Unemployment rate in the country has more than quadrupled since the economy slipped into recession, first in 2015 and later in 2020.

“The unemployment rate in Nigeria rose to 9.9 per cent in 2015 as the current administration came on board.

“In the context of ILO definition of unemployment, there is need to make concerted efforts towards stemming down the negative impact of unemployment on the economy and the active population of the country.

“It is in the light of the foregoing that the federal government recently inaugurated a Technical Working Group (TWG) on Youth Employment and Skills Development to handle the increasing Youth Unemployment and skills development in the country.”

Commenting on need to tackle unemployment and create jobs, Ngige said the incoming administration of the APC should consider the blueprint on Job Creation Office, under the Ministry of Labour and Employment.

According to him, his ministry had 125 Skills Development Centres in the six geo-political zones of the country, apart from the 19 Job Centres in Bauchi, Kaduna, Lagos, Abuja, Edo, and Enugu, among others

where people received training on bricklaying.

Ngige also disclosed that his ministry was collaborating with United States Labour Department to stop child labour, adding “they make available $75 million to fight poverty in cocoa and minerals producing areas in Nigeria”.

He defended the federal government's handling of labour disputes, saying “we are proactive. We have conciliated about 4,000 labour disputes. We get Trade Dispute Notice (TDN) and call them for meetings especially in oil and gas industry.

“Our state offices are doing conciliation on permanent basis”, he said.

Ngige said the issue of pay rise for the Nigerian workers was being addressed and that the issue going on now is the quantum of money for the pay raise.

He also said the amount to be paid would be based on the availability of funds and the ability to pay.

On the reported migration of Nigerian professionals overseas, the Minister said nobody would stop migration.

According to him, “there is migration from one continent to the other. I am not against migration”.

He said his ministry was collaborating with International Organization for Migration (IOM), which helped to equip their Migrant Resource Center.

Continues online

EFCC, NiRA Sign MoU on Cybersecurity Training Emma Okonji The Economic and Financial Crimes Commission (EFCC), has signed a Memorandum of Understanding (MoU) with the the Nigeria Internet Registration Association (NIRA), the registry for .ng Internet Domain Names, responsible for maintaining the database of names registered in the .ng country code Top Level Domain.

The MoU would enable NiRA to provide cyber security trainings for the personnel of the EFCC and other national security organisations.

The Executive Chairman of EFCC, Abdulrasheed Bawa, while speaking during the MoU signing, which held at the office of the EFCC in Abuja recently, reiterated the resolve of the commission to build the capacity of

the personnel to effectively combat the emerging trends in cybersecurity.

According to Bawa, the MoU would further boost the understanding of his personnel on the modern trends in cyberspace and assist the commission’s investigations.

“We are very proud to collaborate with NiRA because we realise that part of our mandate is collaboration.

We need relevant stakeholders whether in government or private sector to achieve our mandate,” Bawa said.

The EFCC boss, while expressing delight over the collaboration, said the EFCC had already established a well-equipped academy to sustain the training.

“I find this MoU very appealing.

I accept your collaboration and we are ready to start as soon as

possible. We have a well-equipped academy to carry out this training and I advise that the training is not only onsite but also online so that many people can join, and even other agencies can benefit from this using the same platform," Bawa added.

President of NiRA, Muhammed Rudman, who led the NiRA's delegation, said the purpose of the MoU was to strengthen collaboration between the association and the EFCC. According to him, there was a huge gap between NiRA and law enforcement agencies, which needs to be bridged.

“We have law enforcement agencies locking up to Registrars when there are cybersecurity issues relating to website crimes

perpetrated by end users. So, to protect our Registrars from having challenges with law enforcement agencies, we identify EFCC as the right partner to provide capacity building to address these gaps in terms of cybersecurity awareness and general knowledge of Information and Communications Technology (ICT),” Rudman said.

According to him, when the MoU would be fully implemented, it would benefit not only the EFCC but other agencies as well.

“We want to kick start this project as soon as possible to give high level capacity building on the internet and how it works, to address the needs of law enforcement agencies, using EFCC as an umbrella body to bridge the cybersecurity gap,” Rudman further said.

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WEDNESDAY, ͺ΁˜ ͺ͸ͺͻ ˾ T H I S D AY

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Falana: It’s Disturbing That Nigeria Has Highest Election Matters in Court Globally Emmanuel Addeh in Abuja and Wale Igbintade in Lagos A Senior Advocate of Nigeria (SAN), Mr Femi Falana, yesterday described as ‘disturbing’ the incessant overburdening of Nigerian courts with election matters, stressing that all over the world, the country has the highest number of such cases before the judiciary.

The renowned constitutional lawyer argued that it was an anomaly that Nigerians say ‘elections have now moved to the courts’ after going through the ballots, maintaining that such utterances were a confirmation that the country’s electoral system was yet to fully develop.

Falana stressed that Nigerians cannot relinquish the function of the electorate who should ordinarily choose their representatives to the judiciary, pointing out that he was looking forward to such a time that Nigerians can choose their leaders without judicial interference thereafter.

The human rights activist who spoke on Arise Television, THISDAY’s broadcast arm, contended that there was nothing complimentary in a nation’s electoral processes always ending in court, explaining that all lovers of democracy must be genuinely concerned about the challenge.

“For me, it is extremely disturbing, and I've made the point that

we cannot continue to involve the judiciary in the election of the representatives of our people. We must put an end to it.

“We had thought that with enough reforms of the electoral system that by now we should be taking the court out of the electoral system. I'm disturbed as a lawyer that Nigerians are now saying that the elections have moved to the courts. That's not very complimentary. “ Nigeria has the highest number of pre-election cases and the highest number of election petitions in the world. It should be a matter of concern to all genuine forces of democracy and all stakeholders,” he contended.

According to the senior lawyer, the authorities need to revisit the Uwais panel which sought to take care of many of the knotty issues in the electoral system, including the conclusion of all election matters before the inauguration of a new government and the setting up of an elections offences commission.

But he stated that successive governments have ignored the fine letters of the recommendation, a development he argued has further worsened the process of choosing leaders in the country.

He declared that a situation whereby over 1800 pre-election cases are before the courts, with 600 at the Court of Appeals and about 120 are before the Supreme

Court was uncalled for and sounded quite unhealthy.

Falana stressed that the downside to that was that many parties in yet undecided cases, including innocent persons in several jails in the country were left to languish in prison without their cases being heard because election matters are time bound and take precedence over other matters.

On the contention relating to whether the courts can really upturn a presidential election, given that it has never happened in the country, Falana argued that if the facts before the justices warrant cancelling an election, then it must be done accordingly.

He argued that at a point in the

current democratic dispensation, the supreme court had a three-four split decision, stressing that the judgement could have gone either way. He further argued that if it has happened elsewhere on the continent, there’s nothing stopping the courts in Nigeria from doing so.

Falana maintained that the presidential cases in court would be an epic battle , even though the process was still inchoate since all the relevant papers have not been filed.

He further stated that the electoral law should be reformed in such a way that the Independent National Electoral Commission (INEC) should prove before the courts that the polls it conducted are free and fair.

IN MEDICINE AFTER POLITICAL DEATH, AYU STEPS ASIDE, DAMAGUM TAKES OVER

Chuks Okocha in Abuja and Blessing Ibunge in Port Harcourt

In what could easily pass for medicine after a political death, the embattled National Chairman of the Peoples Democratic Party (PDP), Dr. Iyorchia Ayu, yesterday, was compelled by the party’s National Working Committee (NWC), to step aside in deference to a restraining order by the Benue High Court on Monday.

To this end, the deputy national chairman of the party, Ambassador Illya Damagum, has taken over in acting capacity pending the outcome of the case of anti-party suit against Ayu. This notwithstanding, Ayu's kinsmen from Igyorov ward and Gboko Local Government of Benue State, at a press conference, where they exonerated Ayu of any wrong doing, insisted those that signed the suspension letter against Ayu had their signatures forged and subsequently kidnapped.

Moving on, the NWC of the party, has immediately approved the nomination of some party stakeholders to serve on the ward congresses electoral committee to conduct party primary congresses in Bayelsa, Imo and Kogi States.

This is as the Rivers State Governor, Nyesom Wike, has advised Ayu to come to terms with the reality that his reign in the party has come to an abrupt end.

At the same time, a former deputy national chairman of the PDP, Chief Bode George, has accused Ayu of behaving like a headmaster and treating the affairs of the party as a private entity.

Similarly, the Enugu East Senator and former Governor of the state, Senator Chimaroke Nnamani, has also asked Ayu to vacate office as PDP national chairman forthwith, saying, “his deception and abysmal

performance is unmitigated” and as such, an evil that befell the party.

Meanwhile, a former deputy speaker of the House of Representatives, Emeka Ihedioha, has written to the party to announce his withdrawal from the governorship election, stating that he withdrew to allow for a consensus candidate to emerge.

However, PDP’s acting national chairman, Damagum, has immediately summoned a meeting of NWC for today, Wednesday to review some of the controversial decisions responsible forthe latest development in the party.

In a brief acceptance speech, he said the NWC would review some the issues in the party.

Addressing a press conference to the herald a change of leadership, the National Publicity Secretary of PDP, Debo Ologunagba, in a text titled: "PDP NWC Appoints Amb. Damagum as Acting National Chairman," said, "The National Working Committee (NWC) of the Peoples Democratic Party (PDP) at an emergency meeting today, Tuesday, March 28, 2023 acknowledged the order of the Benue State High Court, dated March 27, 2023 with regards to the chairmanship position of our great Party.

"After a careful consideration of the Court Order and in line with Section 45 (2) of the Constitution of the PDP (as amended in 2017), the NWC resolved that the Deputy National Chairman (North), His Excellency, Amb. Umar Ililya Damagum, assumes the National Chairmanship of our party in acting capacity with effect from today, Tuesday, March 28, 2023.

"The NWC charges all leaders, critical stakeholders, teeming members and supporters of our great Party to remain calm and united at this critical time," the

PDP spokesman stated..

The NWC members at the press briefing included the national legal adviser, Kamarundeen Adeuyemi Ajinade (SAN); National Organising Secretary, Capt. Umar Nature; National Secretary, Senator Samuel Anyanwu; National Treasurer, Ahmed Yayari Mohammed; the National Youth leader, Suleiman and the National Financial Secretory, Daniel Woyegikuro, among others.

Speaking to journalists later, Damagum, said, "We have a court order and we are law-abiding party.

I will be here in acting capacity pending the determination of the case. I will immediately have a meeting with NWC and I will brief you later. There is a court order."

On why Ayu was at the party Secretariat, he said, "He has every right to come and pick his personal belongings," adding that the NWC of the would meet today to consider issues of last week for a possible review.

Igyorov Ward Exco Insists Signatures Suspending Ayu Forged

Iyorchia Ayu's kinsmen from Igyorov ward and Gboko local government of Benue State, yesterday, at a press conferences absolved him of any wrong doing and insisted those that signed the suspension letter had their signatures forged and were also kidnapped.

They explained that as at press time, that the whereabouts of the ward chairman and secretary was not known, while their telephone numbers were switched off.

Factional leader of the Igyorov ward, Stephe Shina Hile, said, "We the undersigned PDP Ward Executive Committee Members of Igyorov Council Ward have categorically disclaimed and disassociated

ourselves from the purported letter of vote of No confidence and suspension of Senator Dr. Iyorchial Ayu as a member of PDP in Igyorov Council Ward of Gboko Local Government Area of Benue State dated the 24th day of March, 2023 Circulating on the Channel Station, Arise News, other Media Stations/Channels, Newspapers and Social Media Generally.

"The executive committee has never discussed in any of our meetings prior to election or post-2023 general election about the conduct of the National Chairman. Chapter 10 section 57 of the party's Constitution 2017 as amended.

"The Executive Committee Members have stated clearly that they have no knowledge about the letter and have not authorised anybody whatsoever to generate such mischievous letter on behalf of the Executive Committee.

"The purported signatures on the letter are forged and no member of PDP Executive Committee of Igyorov Council Ward has signed that letter or caused to be signed on his or her behalf. The names of the Executive Committee Members are wrongly written and spelled which showed the desperation of the mischief makers.

"The content of the purported letter itself is contradictory on the holding of the presidential and National Assembly Elections on the 25th March, 2023 while the letter itself is dated 24th, March, 2023. The letter was written before the purported Commission of the offence, which shows clearly that it is the handiwork of the mischief makers.

"Igyorov PDP Ward Executive Committee hereby pass vote of full confidence on Senator Dr. Iyorchia Ayu and we also pledge our full support for his pragmatic leadership style (as the National Chairman of the Party)," he stated.

SGF: COURT PROCESSES WON’T STOP TRANSFER OF POWER ON MAY 29 whether resolved or unresolved, would not in any way stop the transfer of power.

“President Muhammadu Buhari will not spend a day extra beyond May 29, when he will hand over power to whoever has been declared by INEC. The court processes will continue and whatever determination of those, who are aggrieved even after the swearing-in it has always been accommodated.

“This is not the first time we have had an election and is not the first time people have assumed offices and litigations continue. So, the matters before the election tribunal will continue unabated till the final determination and the matters could get to the Supreme Court if the parties involved are dissatisfied with every level of the litigation,” Mustapha said.

He said the two persons nominated by the President-elect, Bola Tinubu, to the PTC – the Governor of Kebbi State, Senator Atiku Bagudu and Mr Olawale Edun – have actively joined the council, which was inaugurated on February 14, 2023.

He added that the president-elect has also been requested to nominate

13 persons that wouldwork across the 13 sub-committees that have been working round the clock to ensure that all preparations are in place for a smooth inauguration ceremony.

In his update, Mustapha also revealed that the refurbishment of the offices for the President and Vice-President elect had been completed by the Facilities, Security and Intelligence Committee headed by the National Security Adviser (NSA) while the full complement of security personnel of the Department of State Service and the Nigerian Police Force has been deployed to the President and Vice-President elect.

In addition, he said protocol officers have also been assigned to both the President and Vice President-Elect from the Ministry of Foreign Affairs and the National Intelligence Agency while as part of the transition process, four members of the president-elect’s team would be joining the federal government delegation to the Spring meeting of the World bank.

The SGF said to ensure a smooth transition process, the PTC has been segmented into three committees, consisting of the Inauguration

Committee, Transition Documents Committee, and Facilities, Security, and Intelligence Committee.

The inauguration committee headed by the SGF is responsible for organising the swearing and the inaugural parade; working out the details programmes and other logistics necessary for the successful inauguration ceremonies.

The Transition Documents Committee, headed by the Head of the Civil Service of the Federation, is responsible for compiling all policy, programmes and projects of the administration in the form of a compendium that focuses on the government’s nine priority areas.

It is also in charge of ensuring the preparation of sectoral briefs and handover notes of the current administration for the in-coming administration.

However, the Facilities, Security and Intelligence Committee is to organise necessary facilities and take charge of provision of security for the President and Vice-President Elect; Provision of covert and overt security before, during and after the 2023 Presidential Inauguration including venues of events, hotels, airports, entry points, roads and general surveillance of FCT.

Saraki, Others in Ad Hoc C’ttee for Kogi, Imo, Bayelsa Guber Primary

The PDP NWC, has approved the nomination of some prominent party stakeholders to serve on the ward congresses electoral committee to conduct party primary congresses in Bayelsa, Imo and Kogi States.

A statement by the National Organising Secretary of PDP, Hon. Umar M. Bature, stated that a former Senate President, Dr. Bukola Saraki would head the committee for Bayelsa State with Barrister Katung Sunday, Danjuma Danladi, Ms Mammy Balami as members and Gabriel Onyewife as Secretary.

For Kogi State, Senator Abdul Ningi would serve as chairman, while Franc Fageh Utoo, Abubakar Garba, and Aisha Ibrahim Madinat would serve as members, while Hon. Warman Ogoriba would serve as Secretary However, Henry Terebe would serve as chairman for Imo State, while Charity Echor , Danjuma Adamu Sankor, Eugene Maeba would serve as members and Dr. Major Itimowei her Secretary.

Wike, George, Nnamani Condemn Ayu’s Leadership Style

River State Governor Nyesom Wike, a former deputy national chairman of the PDP, Chief Olabode George and Senator Chimaroke Nnamani, have condemned Ayu’s leadership style, describing his temporary ouster as healthy for the party.

Wike, who faulted Ayu’s claim that only the National Executive Committee (NEC) of the party could suspend him, advised the embattled national chairman to come to terms with the reality that his reign in the party has come to an end.

Speaking during the inaugu-

ration of the phase one of the Trans-Kalabari Road, performed

by Governor Seyi Makinde of Oyo State, he claimed that Ayu could not reap from a party, by presiding over its affairs, where he has not sown, securing any electoral victory for it.

"Ayu said nobody can suspend him but today, he has packed out from the national office. We have an acting chairman. I told him he will go whether you like it or not, he will go.

"Those lawyers telling you that the ward has no power to suspend you, that it's only National Executive Council (NEC), then, you don't understand what is happening.

When you came, it was the ward that suspended (Uche Secondus, and you went and took office, is it not?"

"So, is it now that you know that it is only NEC that can suspend you? Let me tell you, since they've not told you, the court has struck off that section of our constitution that says it’s only NEC can suspend (chairman). PDP did not even appeal the judgement.

"So, forget it, you are gone.

You are wasting your time. We are ready for the battle. I am not from Benue, but I have interest and that interest is that Ayu must go.”

Also, speaking on Arise news television, George accused Ayu of behaving like a headmaster and treating the affairs of the party as a private entity According to him, Ayu or the PDP NWC had no right to suspend NEC members like former governors, former Senate president and others as it did, insisting that it is the duty of NEC to do so.

He explained that the crisis sparked off when the NWC-led

by Ayu started suspending NEC members, explaining that action and reaction were equal and opposite.

Continued on page 40

ZENITH BANK’S GROSS EARNINGS ROSE BY 24% TO N945.5BN IN 2022 year.

The growth in customer deposits came from all products and deposit segments (corporate and retail), thus consolidating the bank’s market leadership and indicating customers' trust.

The continued elevated yield environment positively impacted the bank’s Net-Interest-Margin (NIM), which grew from 6.7 per cent to 7.2 per cent due to an effective repricing of interest-bearing assets.

Its operating expenses grew by 17 per cent year-on-year, but growth remains below the inflation rate. Its total assets increased by 30 per cent, growing from N9.45 trillion in 2021 to N12.29 trillion, mainly driven by growth in customer deposits.

With the steady and continued recovery in economic activities, the Group prudently grew its gross loans by 20 per cent, from N3.5 trillion in 2021 to N4.1 trillion in 2022, which increased its non-performing loan (NPL) ratio modestly from 4.2 per cent to 4.3 per cent year-on-year.

The capital adequacy ratio decreased from 21 per cent to 19 per cent, while the liquidity ratio

improved from 71.2 per cent to 75 per cent. Both prudential ratios are well above regulatory thresholds.

“In 2023, the Group intends to expand its frontiers as it also reorganises into a holding company structure, adding new verticals to its businesses and growing in all its chosen markets, both locally and internationally.

“As a testament to its commitment to shareholders, the bank has announced a proposed final dividend payout of N2.90 per share, bringing the total dividend to N3.20 per share,” the bank revdealed.

In recognition of its track record of excellent performances, Zenith Bank was recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker's Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World's Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance

Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance' Financial Services' Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named as Bank of the Decade (People's Choice) at the ThisDay Awards 2020, Most Innovative Bank of the Year 2019

by Tribune Newspaper, Bank of the Year 2020 by Independent Newspaper, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

WEDNESDAY MARCH 29, 2023 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY MARCH 29, 2023

MIDWEEKPOLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com

08033025611 SMS ONLY

Why Plateau Voters Sack Lalong, APC Voters in Plateau state were determined to remove Governor Simon Lalong and the remaining vestiges of the All Progressives Congress dispensation from the space of governance in the State, and to clear the atmosphere for the much-needed gust of fresh air to once again blow across the land, and that was exactly what they did. Seriki Adinoyi reports.

T

he outcome of the recent governorship election in Plateau State is not only a clear reflection of the people’s mood about Governor Simon Lalong and the All Progressives Congress in the state, but it’s also a clear pointer to the people’s intolerance for inefficiency.

Few days to the governorship poll, Vice President-elect, Senator Kashim Shettima visited the state to mobilize Muslim communities in the state to vote for the APC candidate.

Following the visit, a famous Cleric, Sheikh Yahaya Jingri, openly campaigned against the PDP candidate, calling on all Muslims in the state to vote against him because he will not protect Muslims’ interest.

This even angered the electorate more, because for a state like Plateau that had suffered from several religious crises in the past, such inflammatory utterances was counter-productive.

Movement for the Survival of Plateau (MOSOP) even went ahead to call for Jingri’s arrest.

But despite all of these, the PDP did not only win the Governorship seat, but also won far more National and State Assembly seats in the elections. It goes to explain how disenchanted the electorate now feel about the APC because of its poor performance in the state in the past eight years.

INEC Returning Officer of the governorship election, Professor Idris Amali, while declaring the results of the election said Mr. Caleb Mutfwang of the Peoples Democratic Party (PDP) polled a total of 525,299 votes to beat his closest rival, Nentawe Goshwe Yilwatda of the All Progressives Congress (APC) who polled 481,370 votes.

Dr. Patrick Dakum of the Labour Party (LP) came third with 60,310 votes.

Mutfwang won in 10 Local Government Areas (LGAs); namely Barkin Ladi, Bassa,

Lalong

Langtang North, Mikang, Langtang South, Riyom, Mangu, Jos South, Bokkos, QuanPan, while Yiltwada won in seven LGAs vis Jos East, Kanke, Pankshin, Shendam, Wase, Kanam, and Jos North. Following the announcement of the Governorship election results by INEC the entire city of Jos, the state capital went into high jubilation.

The people of Plateau said they decided to retire the APC from the state because they had witnessed backwardness in the past eight years of APC’s government.

One would wonder how Governor Simon Lalong would be feeling by now; that after ‘serving’ his people for eight long years, the only reward he got was an embarrassment and humiliation at the polls. He lost

his bid to go to the Senate, he failed to win presidential elections for APC even though he was appointed the Director General of Tinubu/ Shettima presidential campaign council, and he was finally humiliated at the governorship polls where his candidate, Nentawe was floored by the PDP candidate, Mutfwang.

How did he miss it? What went wrong that a Governor that got the overwhelming support of his people in 2015 lost so recklessly?

Right from the outset of his administration, Lalong missed it when he attributed his victory to the support of the Hausa Muslims in the state.

He had publicly declared in 2015 when a Muslim group paid him a Sallah homage in his office that he owed them gratitude for his victory at the polls. Lalong had forgotten that what brought him to power was protest votes against former Governor Jonah Jang over his violation of rotational arrangement in the state when he fielded GNS Pwajok, his kinsman from the same Northern senatorial zone to take over from him after completing his eight-year tenure.

Though Jang claimed he heard from God to do so, the people were never convinced that God would ask him to violate a peaceful understanding reached by the people.

So they voted against him and his candidate in protest.

That was how Lalong, a relatively fresh politician, and APC a barely known party to Plateau people then took over power in 2015 with a mindset to do the bidding of the group that he perceived brought him to power.

His utterances were as if all that mattered to him was Aso Rock and how not to step on President Muhammadu Buhari’s toes, and how to do everything to favour the core North.

Alas! That’s the last thing an average Plateau man would want to see in their Governor;

making them an appendage of the core North.

Plateau has consistently defined itself as Middle Belt and not an appendage of the North as the Hausa/Fulani would want to make them look.

But Lalong worked against this. Under the guise of running an all-inclusive government, Lalong dominated his Government with strange persons; people that are alien to Plateau and its government.

To give him a sense of achievement in terms of bringing peace to the state, the once-sustained onslaught on the people of Plateau for refusing to adopt open grazing legislation in the state was temporarily withheld so that Lalong could pride himself as one that returned peace to the state after about six months of assuming power.

This gave him the guts to gleefully berate his fellow governor Samuel Ortom of Benue State before newsmen at the State House in Abuja for implementing its anti-open grazing legislation. Lalong openly chastised Ortom before the entire country when the Governor was mourning the death of over 70 victims of herdsmen attacks on his state.

He had said, “I told the Governor of Benue when he was doing the law; I said, look, why don’t you tread softly, take other steps before you start implementation, but he didn’t heed….”

Even Lalong’s Plateau people were embarrassed by his obvious lack of compassion for the dead and their loved ones.

To further intoxicate him with power, the Northern Governors’ Forum made him Chairman, and this made him to speak to Plateau people with the audacity of a monarch. He had forgotten that the same people put him there.

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

Akpabio as Suitable Candidate for 10th Senate Presidency Mike Inyangudo writes that former Minister of Niger Delta Affairs, Senator Godswill Akpabio, possesses the qualities required to stabilise the 10th National Assembly as Senate President.

T

here are agitations from all quarters in the South-South states calling on the senators-elect across the country on various political platforms to consider the constitution of a vibrant National Assembly, specifically the office of the Senate President, this time as its topmost priority.

The office of Senate Presidency which has been micro-zoned to the South-South geo-political zone by the ruling party, needs someone with impeccable credentials and souring pedigree in legislative matters with interplay of political ascendancy to pilot the affairs of the National Assembly this time.

Of the 15 Senate Presidents we have had in the country since the First Republicin the 1960s, only one came from the South-South zone of the country, in person of Senator Joseph Wayas of blessed memory. Akwa Ibom senator, Senator Godswill Obot Akpabio, should this time be considered in view of his state humongous contributions to the economic well-being of the nation.

Akpabio’s state of Akwa Ibom has been a major player in the sustenance of the nation’s economy since 2007 when militancy in the Niger Delta were at its peak, causing then President Umaru Musa Yar’Adua to make Akwa Ibom State Governor’s Lodge his second home. Akpabio’s state has been a leading producer of crude oil that services the economy of the country. Akpabio was able to rake in more than 160,000 votes for his party in Akwa Ibom state where PDP is regarded as a religion, compared to the vote of other senate presidency aspirants in their various states.

With his antecedents as a two-term governor and a Minister of Niger Delta Affairs, Akpabio will certainly position the people as the crucial center of legislation in a way that the National Assembly and the Presidency will subsist in a

Akpabio

complimentary relationship and not as a rubber-stamp entity.

As a true and loyal party man, it was Akpabio during the party primaries, and without any prompting, that stepped down for the national leader of his party, Asiwaju Bola Ahmed Tinubu, to ensure that he triumphed to carry the party flag to become the President-Elect today.

In doing this, Akpabio did not take into consideration the humongous expenses he incurred in traversing the nooks and crannies of the country to beg for votes when he contested at the primaries.

It’s our firm belief that Akpabio has a pedigree of integrity and commands support with loyalty across political divide and zones that will enable him to pilot the affairs of the Senate with equanimity, successfully

without rancour or acrimony if he is elected the next President of the Senate of the Federal Republic of Nigeria.

It’s our resolve that he has the wisdom, intelligence with common sense and with the application of intelligence realistically that would enable him to serve the National Assembly creditably, the National President of Niger Delta Leaque of Professionals, Dr. Timi Fynecountry, said.

Akpabio would be the best man for the job of Senate President, considering that he is a man with quick wit, attentiveness to the concerns of others exhibiting politeness with a charm and a dash of charisma, Fynecountry further said.

According to the Niger Delta Leaque of Professionals, Akpabio is one who has plans for national development and he is always ready to pursue it vigorously and whole-heartedly because he is a true believer in the national cohesion and peaceful coexistence and will want to make a difference in all his undertakings and will definitely persevere even in the darkist hour.

Akpabio, according to them, is not one considered to be high-handed or gloat because he has always been fair and considerate. His honesty is ingrained as part of his character.

The former two-time Governor of Akwa Ibom State, they said, possesses leadership qualities that knows when to take charge, the ability not just to control and command but to guide, delegate and influence. He is a man with robust communication skills to clearly articulate ideas and motivate others to rally to his cause for national development. He always works with transparency and accountability with the knowledge that mistakes if occurred, the buck will stop at his desk and he must take responsibility and admit mistakes where necessary.

If given the opportunity to lead the National Assembly, Akpabio is one man who remembers

where he comes from and who every other Senator represents and be responsive to their constituents and their needs. For him, it isn’t always about what he wants, but it’s about the entire members of the upper chamber. For Akpabio, a little humility goes a long way to assuage any frayed nerves.

Akpabio is one who will never stop learning and he is flexible about accepting new and better ways to accomplish ends even if that requires a bit of iconoclastic irreverence. He’s one who will readily break out the solar panels, and move ahead with the times and make innovation and technology work for the benefit of all not just a few. He possesses the practicality to know when to be moderate and accomplish goals and when to be radical and fight for values.

He always knows limitations and how to take advice. Akpabio has the flexibility to realize that the “enemies” of yesteryears may be the allies of tomorrow and embrace the opportunities that become available.

Akpabio, a lawyer, who was born on December 9,1962, ventured into the uncertain world of politics and was made a Commissioner for Petroleum and Natural Resources, and later as Commissioner for Local Government and Chieftaincy Affairs in Akwa Ibomstate.

He eventually contested as a governor and served for two terms before he went to the senate where he was singled out and made Senate Minority Leader.

Akpabio who is the immediate past minister of Niger Delta Affairs resigned to contest his party primaries for presidency but stepped down for the leader of the party, Asiwaju Tinubu.

Today he’s back into the 10th Senate snd aspiring for the office of Senate President.

-Inyangudo writes from Abuja.

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FEATURES

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

Boost for Army Finance with Premium Structural Refurbishment Over five decades after its establishment, Nigerian Army School of Finance and Administration recently underwent a comprehensive refurbishment and construction of its structure. Chiemelie Ezeobi reports that with the inauguration by the Chief of Army Staff, Lieutenant General Faruk Yahaya, this boost will translate to manpower efficiency

COAS, Lieutenant General Faruk Yahaya; Chief of Accounts and Budget, Major General Adetokunbo Fayemiwo; and Commandant NASFA, Brigadier General Ehioze Osifo at the inauguration

New look of Nigerian Army School of Finance

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an is a product of his environment and who better to know this than the Nigerian Army, who banks on excellence to deliver credible and efficient ground power as one of the tripartite of the Armed Forces.

Keying into this, the Nigerian Army School of Finance and Administration (NASFA), Apapa, recently inaugurated its newly built towering edifice and state-of-the-art facilities to make learning more conducive.

Sterling Records Established in 1968, NASFA kicked off at the Arakan Barracks in Apapa, Lagos. Known for churning out personnel who have made remarkable contributions to the accounting and other finance/business related professions in its 55 years of existence, NASFA boasts of graduates who have consistently smashed the coveted Institute of Chartered Accountants of Nigeria (ICAN) certification examination which qualifies professionals in the field of accounting.

Essentially, NASFA is a foremost military institution that provides skilled workforce for the Nigerian Army, sister services and other security and para-Miltary agencies in the country.

Reconstruction But despite its towering achievements, the physical structure of the school was totally unbefitting for an institution that churned out such graduates.

The tide turned in 2021, when the trajectory of its boost began with the approval by the Chief of Army Staff (COAS), Lieutenant General Faruk Yahaya for the reconstruction of classrooms, offices, students' accommodation, refectory and other facilities required to improve the learning conditions of the school.

A break down of the refurbishment include two main blocks comprising 27 class rooms, five staff rooms, five secretary offices and two computer rooms. There were also 36 male and female toilets , a computer room, and four laboratory offices.

Also in the facilities are a 400-capacity 400 auditorium,16 toilets, eight each for male and female, as well as a 51- bedroom female hostel to accommodate 400 students; three floor structure of 24 unit mini flat for staff accommodation, among others.

Premium on Training Inaugurating the reconstructed and reequipped school last week, Yahaya, who happened to be the first COAS to have visited NASFA since its establishment 55 years ago, said his administration placed a premium on training for all the right reasons.

He said: "One of the four pillars of my command philosophy is Readiness. And Readiness for a professional army can only be achieved by well trained and administered troops who are in a high state of morale to discharge assigned missions.

"One of the key components of training is conducive environment for learning which in turn requires competent instructors or tutors, requisite infrastructure and good administration.

"It is in that drive that we try to provide necessary infrastructure and other facilities for our schools and training institutions across the Nigerian Army.

"I will therefore continue to ensure realistic and mission-oriented training towards building professional standards in the Nigerian Army by providing conducive environment for learning,

improving skills and competences of instructors and students, sound administration of troops and their families and more facilities.

"I am glad that am here today, to commission the Nigerian Army School of Finance and Administration beautiful complex, ultra-modern classrooms and facilities. From the completion report I got and what we are seeing here on the ground, the works and facilities installed here are of very high quality that will meet any standard in the world.

"I therefore commend the immediate past and current leadership of the Nigerian Army Finance Corps, Major General AA Adesope and Major General AA Fayemiwo for aligning with my vision in the conceptualisation and execution of these projects. You have indeed done well.

"I am pleased to note that the Nigerian Army School of Finance and Administration is a foremost military training institution, which provides skilled work force for the Nigerian Army, sister services and other security and para military agencies in the country.

"I am confident that with additional buildings and infrastructure commissioned today and others coming on board NASFA is being positioned for even better performance. NASFA must therefore justify the resources committed to the institution by ensuring that the quality of your graduates can also compete with their peers from any part of the world and excel. I charge you to also ensure that the facilities are well maintained."

NASFA's Evolution In his remarks, the Chief of Accounts and Budget (CAB), Major General Adetokunbo Fayemiwo, said since its establishment in 1968, the school had gone through many phases, evolution before arriving at its current status as one of the sought after degree awarding institutions in accounting and relevant fields.

"In 1985 the school secured accreditation from the National Board for Technical Education to train personnel and award both Diploma and Higher National Diploma in Accountancy and Secretarial Studies.

"The school has produced a total of 2,599 graduates of the National Diploma (ND) and 1,943 of Higher National Diploma (HND). These graduates include personnel from

sister services.

"The school also trained personnel of the Nigeria Police Force, other security agencies like the Correctional Service (NCoS), Immigration Service (NISA), Nigeria Security and Civil Defence Corps (NSCDC), among others.

"The admission into the school which is conducted by the Joint Admissions and Matriculation Board (JAMB), is indicative of the school's high standards as reflected in the performance of our graduates.

“Currently we also have five serving Air Vice Marshals of the Nigerian Air Force Directorate of Account and Budget who are graduates of this prestigious institution. The school also has the Military and Service Account Department which trains personnel in various upgrading courses like Clark General Duties, Record Class and Finance Upgrade courses. There are also career courses for Nigerian Army Finance Corps officers.

“In line with the directive of the Chief of Army Staff, the school will soon commence the maiden edition of the Nigerian Army Chief Clark’s course from April 2023, while the Nigerian Army Leadership Corp will also be conducted in conjunction with the Nigeria Institute of Management by May 2023."

On the school's evolution, he added that NASFA had evolved over time since its establishment in 1968 as the Nigerian Army Pay Corp training school, with the primary responsibility of training personnel in Military duties, records, and clerical duties.

“At that time the Corp was known as the Nigerian Army Pay and Record, having responsibilities for paid money and record duties, “However in 1973, in line with the post war reorganisation of the Nigerian Army, the Corp was also reformed and renamed Nigerian Army Pay Corp, under the then Pay Master General.

“Consequently the school was upgraded when it established two additional departments for academic studies namely: Professional Accountancy and Secretarial studies department in 1978.

“In 1982 the Corp was re-designated to Nigerian Army Finance Corp to reflect the professionalisation status, before it was renamed Nigerian Army School of Finance and Administrator. " In 1985, the school secured accreditation to the National Board for Technical Education to train personnel and award both Diploma and Higher National Diploma in Accountancy and Secretarial Studies. Suffice to add that the civilian service course has now been re-designated Office Technology and Management," the Chief of Account and Budget added.

He said it was reflective of cooperation with sister services and other security agencies, which is a cardinal pillar of the vision of the Chief of

I will therefore continue to ensure realistic and missionoriented training towards building professional standards in the Nigerian Army by providing conducive environment for learning, improving skills and competences of instructors and students, sound administration of troops and their families and more facilities

Army Staff, adding that the graduates of the prestigious institution have always distinguished themselves as several have attained the peaks of their career.

"The Nigerian Army leadership course will also be conducted in conjunction with the Nigerian Institute of Management by May," he disclosed.

Construction Phases On the construction, he said inaugurated projects included two main lecture halls, four staff offices, school auditorium, female hostel, Warrant Officers’ and Sergeants’ mess, a refectory and bakery.

"These buildings were initiated by my immediate predecessor in office, in person of Maj.-Gen. AA Adesope, who was then the Chief of Account and Budget. The projects were earmarked to be completed in three phases.

"The first phase commenced in 2021 and consisted of the main buildings of blocks A and B, school auditorium as well as female student hostel. The Chief of Army Staff also graciously approved the construction of a befitting medical centre, sergeants' mess and canteens.

"The second phase of the project was the furnishing and equipping of the school which commenced in February 2023. I am glad to inform the special guest of honor that this commissioning ceremony marks the completion of the second phase.

"Phase three will be construction of the male hostels which will commence as soon as the Chief of Army Staff grants his blessings," the CAB added.

The 55th Commandant NASFA, Brigadier General Ehioze Osifo, while giving the vote of thanks, pledged that they would work harder to consistently turn out high quality graduates as a way of sustaining the confidence reposed on them.

"As a school we will always remember this day as a relish and always have you in our memories as dignitaries that honoured us on our great day.

"Having been Commandant of this school in just few weeks, I have seen from experience the hard work and labour that my predecessors in office must have gone through to keep the flag of this school flying.

"I thank you all for your efforts and I pledge that under my watch, this school will continue to excel. We have kept the national flag flying very high and I will give two examples. In the past four years an average of five students have sat for and passed the exams to become chartered accountants yearly.

"Also the school has consistently emerged in the top two positions in the annual accountant quiz competition organised for accountancy students here in Lagos State. We thank you all again for your years of mentorship and certainly we would continue to tap from your experience and wisdom as we pilot the affairs of this prestigious institution..." He said.

While appreciating his predecessors for laying the foundation stone and encouraging others to trail the blaze, he assured that he and his lieutenants would work harder to sustain the confidence reposed in them ,by persistently churning out quality graduates as well as maintaining the facilities.

Present at the occasion were 14 past Commandants of the Nigerian Army School of Finance and Administration, as well as other senior and retired officers.

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T24 H I S D AY WEDNESDAY MARCH 29, 2023

OPI NION Wednesday 29 March, 2023 Vol 27. No 10213.

opinion@thisdaylive.com

www.thisdaylive.com

THE BANNING OF TIKTOK

ABDUL OKWECHIME pays tribute to Bola Tinubu, President -elect, at age 71

The popular Chinese app has been banned in the US and UK for security reasons, writes SONNY ARAGBA-AKPOREES

ASIWAJU BOLA TINUBU: BEYOND COMPETENCE

I

See page 19 THE SURPRISE IN TARABA The emergence of Agbu Kefas as the governorelect carries with it an enormous responsibility, writes DELE OLOWU

See page 19 EDITORIAL Averting the looming food crisis

See page 20

1

t goes beyond the primaries where he was clearly the underdog. He was set up to lose. Everybody else, safe for him, did not believe he had a chance. They thought it was a platform set to demystify the Great JAGABAN. What, with a President, whose countenance was more of disdain to the man who later became his Party’s Presidential Candidate, than welcoming. Every step going forward, right from the venue of the Primaries, became who GOD wanted or ordained, as it were. $W WKH 3ULPDULHV KH VDW DORQH ÀUVW OLNH DQ RUSKDQ EXW KH ZDV VXUH DQG NQHZ KH was not alone, GOD was on his side. His seat, suddenly became the cynosure of all eyes where almost all candidates came to pay congratulatory homage to him, as the result came tumbling down.

Recall that before the primaries he met a hostile environment within his party. The APC, whose hierarchy appeared hellbent to curtail his seemingly larger than life image, did everything to scuttle his dream.

7KH\ DSSDUHQWO\ GLGQ·W NQRZ WKH PHDQLQJ of JAGABAN. The Adams Oshiohmole led EXCO was unceremoniously dismantled largely due to some imaginary fears RI LW ZRUNLQJ IRU DQ $VLZDMX 7LQXEX·V President agenda. Undeterred he put his focus elsewhere, assuaging aggrieved members and helping even non members of the party across the nation. Rather than GLPLQLVK WKHUHIRUH KLV QHWZRUN VWDWXV DQG LQÁXHQFH LQ DQG RXWVLGH WKH $3& IDPLO\ received a huge boost. These new ways of bonding with people across all divides were XQVFULSWHG MXVW WKH QRUPDO EHKDYLRU RI WKH enigma called Bola Ahmed Tinubu. Across the nation during the rallies were real time testimonies from the high and mighty who KDYH UHFHLYHG WKH $VLZDMX·V 0LGDV 7RXFK Governor Ayade of Cross River State, *HRUJH $NXPH RI %HQXH 6WDWH *RYHUQRU *DQGXMH RI .DQR 6WDWH DQG D KRVW RI WKHVH EHQHÀFLDULHV FDPH RQ VWDJH IURP RQH VWDWH after the other to give testimonies of how WKH\ KDYH EHHQ WRXFKHG E\ $VLZDMX·V PLON RI NLQGQHVV As the primaries drew near apprehension and uncertainty set in. Again the party leadership was largely not to be trusted. ,QWULJXHV DQG EDFNVWDEELQJ ZHUH H[KLELWHG Those that were counted as allies publicly GLVRZQHG KLP DQG VRXJKW WR EH GLͿHUHQW 7KH XQNLQGHVW VWDE FDPH IURP 3URI <HPL 2VLQEDMR WKH 9LFH 3UHVLGHQW D PDQ ZKR Bola Tinubu has persistently promoted and pushed at any given opportunity.

9HU\ XQH[SHFWHGO\ *2' FDPH LQWR WKH minds of the APC Northern Governors

who decided to tread a part of honour by LQVLVWLQJ WKDW 3RZHU 0XVW 6KLIW WR WKH 6RXWK of Nigeria. This stand, more than anything HOVH EHFDPH WKH DOEDWURVV RI WKH JDQJ XS DJDLQVW DQ $VLZDMX 3UHVLGHQW ZLWKLQ APC Power Hierarchy, particularly in the 3UHVLGHQF\ $OO VXFK SODQV LI WKH\ H[LVWHG were promptly perished. So he waltzed through the rumored plan of the Senate President Ahmad Lawan candidature to the supposedly scary screening panel, who everybody thought, at that time, was designed to screen him out. He came out clean in all, insisting that the candidates go through an election. He refused the idea of a consensus candidate even if he was to be WKH EHQHÀFLDU\ As the intrigues continued with no one clearly ready to confront the “imaginary” HQHPLHV 7ZR ODQGPDUN HYHQWV FOHDUO\ RUGDLQHG E\ *2' WRRN FHQWUH VWDJH )LUVW the Northern Governors within the APC in an unprecedented manner, confronted 3UHVLGHQW %XKDUL WR FRQÀUP KLV VWDQG on the stories of his endorsement of Senate President Lawan, as the Party’s 3UHVLGHQWLDO &DQGLGDWH %R[HG WR D FRUQHU the President publicly, not only denied any involvement, but also insisted that he was unaware of such a plan. He further urged every aspirant to go prepare for the primaries.

Secondly and the most daring is ZKDW , ZLOO GHVFULEH DV WKH $%(2.87$ DECLARATION. When the frustration and seeming abandonment by the Powers that be in the APC Administration, became more ELWLQJ DQG QHHGHG D 3URWHVW $VLZDMX %ROD 7LQXEX WKH .LQJ RI 3URWHVW WRRN WKH EXOO by the horn. It was obvious that everyone HOVH LQ WKH WHDP HLWKHU GLGQ·W NQRZ KRZ to go about it or clearly didn’t have the OLYHU WR VR GR /LNH DOO OHDGHUV ZKR GRQ·W give orders but rather act and let others IROORZ KH WRRN WKH EXOO E\ WKH KRUQ 6XFK DQ DFWLRQ ZDV GHÀQLWHO\ LQVSLUHG E\ *2' ,Q $%(2.87$ $VLZDMX %ROD $KPHG 7LQXEX LQ WKH PRVW XQRUWKRGR[ PDQQHU told the whole nation that it was his turn WR UXOH 1LJHULD $XGDFLRXV (PL·O·RNDQ KH

WROG WKHP LQ <RUXED ODQJXDJH DW $EHRNXWD PHDQLQJ LWV P\ WXUQ )RU WKH UHFRUGV KH UHPLQGHG KLV OLVWHQHUV KLV WUDMHFWRU\ LQ VKDSLQJ WKH 'HPRFUDF\ 1LJHULD HQMR\V today, including how with GOD’s Grace he was able actualise the OLIHORQJ GUHDP RI 0XKDPPDGX Buhari. The silence in all homes across the nation was deafening, even members of the opposition were alarmed at the boldness. No RQH NQHZ KRZ $EXMD ZRXOG UHDFW but what mattered most is the ability to confront the truth at any given time. It was a selling point, a *2' JLYHQ DWWULEXWH WKDW RQO\ KLP NQRZV KRZ WR VKRZFDVH (PL·O·RNDQ ZDV DFWXDOO\ WKH YRLFH RI *2' %XW OLNH LW LV VDLG LQ WKH +RO\ %RRNV KXPDQ EHLQJV ORYH WR VHH VLJQV 7KH\ JRW WKH VKRFN RI WKHLU OLYHV at the primaries. GOD showed them his anointed as he won with a landslide. That ZDV WKH VLJQ <HW WKH KXPDQV LQ XV NHSW WKH doubts alive.

At last came the day of the primaries, where his initial quiet corner became the throne where other mere mortals came to pay respect. He beat the other contestants silly. Only GOD could have done that.

That night, he proved that GODLINESS and GOODNESS don’t come with the size of Bible or Quaran you carry, nor are they from oratory at sermons. No. They FRPH IURP <RXU 3HUVRQ DV 2UGDLQHG E\ WKH $/0,*+7< ,Q D FRQWHVW WKDW KDG DERXW YRWHUV $VLZDMX EHDW WKH RWKHU contestants with a minimum of a thousand YRWHV HDFK 0HDQLQJ WKDW QHDUO\ HYHU\RQH that came to the primaries voted for him.

Just as we began to felicitate and oil our structures the public war from social media enveloped the nation. All manner RI LQVXOW DEXVHV FXUVHV DQG OLHV WRRN RYHU the social media space. In Nigeria’s Political History, no one has been so maligned, so GHPRQLVHG VR DEXVHG OLNH $VLZDMX %ROD $KPHG 7LQXEX +H WRRN HYHU\WKLQJ LQ KLV stride, remained focus and believed in his goal. Those friends he made across our QDWLRQ·V GLYLGH SDLG RͿ 7KH FDPSDLJQV in most parts of Northern Nigeria is “pay EDFN WLPH IRU $VLZDMXµ 6R ZKLOH WKH VRFLDO media did their best to pull him down, GOD using the people that believe in him, stood him out. Rather than succumbed and cringed he became stronger, indeed than all of us put together. He would be the last to JR WR EHG DQG DOZD\V WKH ÀUVW WR JHW UHDG\ IRU WKH QH[W GD\·V UDOO\ +H GLG WKH 6WDWHV DQG $EXMD UDOOLHV SOXV WKH ]RQDO 7RZQ +DOO meetings that preceded the rallies.

Mallam Okwechime is a Journalist

T H I S D AY WEDNESDAY MARCH 29, 2023

OPI NION

The emergence of Agbu Kefas as the governor-elect carries with it an enormous responsibility, writes DELE OLOWU

The popular Chinese app has been banned in the US and UK for security reasons, writes SONNY ARAGBA-AKPOREES

THE SURPRISE IN TARABA

THE BANNING OF TIKTOK ByteDance of Beijing, China, owners of TikTok, is in a dilemma over what the future looks like for the app. Their fears stem from the ban imposed on it by governments of the United States of America (USA) and the United Kingdom (UK).

The carefully choreographed ban was announced by both countries two weeks ago.

If the ban is sustained, the over 150m users in WKH 86$ PD\ EH UHGXFHG YHU\ VLJQLÀFDQWO\ HYHQ though the American ban is presently restricted to government devices.

The UK has over 20 million users.

Both countries are among the over 150 countries where the App is in use. Their numbers are also part of the over one billion people that are on TikTok globally.

The US government says TikTok should be sold or else face a possible ban in the country.

China reacted last week saying any forced sale of TikTok will be strongly opposed, in response to demands by the Biden administration that

the app’s Chinese owners sell their share of the company or face a ban.

This development came as TikTok CEO Shou &KHZ WHVWLÀHG LQ IURQW RI 86 ODZPDNHUV DPLG increasing scrutiny over the app’s ties to China.

China’s commerce ministry said a forced sale of TikTok would “seriously damage” global LQYHVWRUV· FRQÀGHQFH LQ WKH 8QLWHG 6WDWHV The video-sharing app, owned by the Chinese company ByteDance, is accused of posing a national security risk through data gathered from millions of users.

But the company said a forced sale would not FKDQJH LWV GDWD ÁRZV RU DFFHVV Even though the White House has not VSHFLÀFDOO\ FRPPHQWHG RQ WKH EDQ WKHUH DUH strong indications that the order to sell TikTok shares is a subtle way of banning especially if ByteDance does not respond accordingly. )RU \HDUV $PHULFDQ R΀FLDOV KDYH UDLVHG concerns that data from the popular app could fall into the hands of the Chinese government.

US President Joe Biden’s administration wants ByteDance to divest itself of TikTok to create a clear break from China.

The Committee on Foreign Investments in the United States (CFIUS), which oversees national security risks, unanimously recommended ByteDance divest from TikTok. TikTok has also been banned on UK JRYHUQPHQW HOHFWURQLF GHYLFHV WKH &DELQHW 2΀FH VDLG 7KH EDQ FRPHV DIWHU &DELQHW 2΀FH 0LQLVWHUV ordered a security review. This looked at the potential vulnerability of government data from social media apps on devices and risks around how sensitive information could be accessed and used by some platforms.

Given the potentially sensitive nature of information which is stored on government devices, government policy on the management of third party applications will be strengthened and a precautionary ban on TikTok on government devices is being introduced.

Currently there is limited use of TikTok within government and limited need for government VWDͿ WR XVH WKH DSS RQ ZRUN GHYLFHV These bans will be a big blow and threats to content developers worldwide as the American DQG %ULWLVK WHPSODWHV DͿHFW RWKHU SDUWV RI WKH globe.

“If protecting national security is the objective,

325

divestment doesn’t solve the problem,” TikTok spokesperson Maureen Shanahan said in a statement. “A change in ownership would not LPSRVH DQ\ QHZ UHVWULFWLRQV RQ GDWD ÁRZV RU access. The best way to address concerns about national security is with the transparent, USbased protection of US user data and systems, with robust third-party monitoring, vetting, and YHULÀFDWLRQ ZKLFK ZH DUH DOUHDG\ LPSOHPHQWLQJ µ China describes the actions by the United States as being “unreasonably suppressing” TikTok and spreading “false information” about data security.

“The US side has so far failed to produce evidence that Tik Tok threatens US national VHFXULW\ µ &KLQD·V 0LQLVWU\ RI )RUHLJQ $ͿDLUV spokesperson Wang Wenbin said at a regular SUHVV EULHÀQJ ODVW ZHHN TikTok has been negotiating with CFIUS — a group composed of the Departments of Treasury, Justice, Homeland Security, Defense and Commerce, among others — for more than two years on a deal that might allow the app to continue operating in the US market in the face of VHFXULW\ DQG SULYDF\ FRQFHUQV 86 R΀FLDOV KDYH raised fears that the Chinese government could use its national security laws to pressure TikTok or its Chinese parent ByteDance into handing over the personal information of TikTok’s US users, ZKLFK PLJKW WKHQ EHQHÀW &KLQHVH LQWHOOLJHQFH DFWLYLWLHV RU LQÁXHQFH FDPSDLJQ Apart from the USA and UK, the ban decision is in line with similar restrictions brought in by key international partners, including Canadian governments, and the European Commission.

As things are today, the ban in the US and UK may spread to other countries as allegiances may come to play after all, according to agency reports.

6SHFLÀFDOO\ WKH &KLQHVH DSS PD\ UHDFWLYDWH the ‘Cold War’ era especially going by the raging Russian/Ukraine war for which global communities now foist alliances against the war.

Chinese President Xi was in Russia on a state visit recently which analysts described as solidarity, a situation that other members of the North Atlantic Treaty Organization (NATO) frown at thus creating more tension in the bargain.

This may hurt TikTok further.

America has the largest number of users, about 150m followed by Indonesia (87.5), Brazil (72.3 m), The Russian Federation (48.8m), Mexico (41.6 m), and Vietnam(39.7m).

Thailand has 35.6m users while The Philippines has 33.0 million users, Turkey with 24.6 million users, and the UK with 20.1 million in that order.

Although the ban in the UK applies to government corporate devices within all JRYHUQPHQW GHSDUWPHQWV WKHUH DUH VSHFLÀF exemptions for the use of TikTok on government devices that are being put in place where required for work purposes.

Exemptions will only be granted by security teams on a case-by-case basis, with ministerial clearance as appropriate, and with security mitigations put in place.

These exemptions will cover areas such as individuals working in relevant enforcement roles, or for example for the purposes of work on online harms.

Zhang Yiming is founder of this Chinese tech giant ByteDance, best known for its insanely popular app TikTok, which has more than one billion users worldwide. Zhang resigned as CEO of Bytedance in May 2021 and as chairman in November 2021, reportedly under pressure from the Chinese government.

This app is very popular among content developers in developing countries including Nigeria.

As at January 2022, TikTok had over three Billion downloads and over one Billion monthly users.

TikTok was the most popular app downloaded globally in 2020 and 2021.

Aragba-Akpore is a member of THISDAY Editorial Board

The military often rejoice in the notion that VXUSULVH LV WKH ÀUVW HOHPHQW RI ZDU +RZHYHU the emergence of Lt Col. Agbu Kefas as Governor-elect of Taraba State is a tale long foretold. He did not get to this summit in one sudden political leap. Instead it has come as a prize, at the end of a long struggle, in which every mile of the way was contested, challenged and litigated until he crossed WKH ÀQLVK OLQH ,Q WKH HQG &RO .HIDV UWG candidate of the Peoples Democratic Party (PDP) in Taraba was declared governor-elect having scored the highest number of votes in the March 18 election. M. A Abdulazeez, D 3URIHVVRU DQG UHWXUQLQJ R΀FHU IRU WKH Independent National Electoral Commission (INEC) in the State, said Agbu Kefas polled 302,614 votes to defeat the candidate of the New Nigera People’s Party, Muhammad Yahaya, who scored 202,277 votes. This declaration caused great unease and surprise

therefore be walking on eggshells as Governor! But the Governor-elect brings substantial management sense to the party. His experience in intelligence in the army as well as his tour of duty as Chairman Governing Board Of Directors, Nigerian Maritime and Safety Agency (NIMASA) will come in handy in the new dispensation.

Taraba warehouses a multiplicity of ethnic nationalities, hosts several religious persuasions and is populated by people ZKR SUDFWLFH GLͿHUHQW SURIHVVLRQV VRPH hostile to one another. This environment has been productive of turbulence and this has tended to retard development in the jurisdiction. In many ways, the story of Taraba is one of a promise unmet.

Taraba State, created out of Gongola in 1991, is largely agrarian, and its people are substantially farmers. If well managed, the state from its resources can meet our national food needs. The Mambilla with its verdant green landscape is the highest and perhaps the coldest point in the Federation. This clement climate once sustained entities like the Mambila Plateau Hydroelectric project, Baisa Timber Development Company, Nigerian Beverages Production and the famous Kakara Tea Factory once midwifed by European industry. I personally visited .DNDUD DW WKH SHDN RI LWV ÁRZHULQJ LQ the 1980s. Many of these entities have since been losing weight and blood for several years. And the greatest brake on development has been the massive inadequacy of infrastructure.

This infrastructure default has not been helped by the inter ethnic tussles which have sometimes ravaged the land. Tenure, herdsmen and pastoralists have presented GLͿHUHQW PRRG IRU PXVLF IRU ÀJKW IRU killings and for civic clamor. The state VXͿHUV $ SOHWKRUD RI SDQHOV VHW XS LQ WKH past to address this portfolio of challenges has fallen short of meeting their targets.

Col Kefas must arrive with a special sense of resolution determined to take Taraba into the freeway of development. He must usher a new sense of Union in the state; banish the partisanship and clamor of in many quarters. They had been important yesterday and point to a new tomorrow. desertions from the PDP, some of them of +H ZLOO DWWDFN WKH LQIUDVWUXFWXUH GHÀFLW VLJQLÀFDQW SROLWLFDO ZHLJKW 6HQDWRU (PDQXHO source for more liberal funding and create Bwacha was one such Goliaths and his a modern new state. Will all his 21 years emergence as the governorship candidate experience in the army place him in good of the APC, it was said, would banish enough stead to win this war? Kefas is any opponent, to the fringes. Col Kefas, a facing Mount Sinai and many say he has disputed aspirant at the time, was supposed strong enough evangelical and political to be particularly brittle. Indeed one Taraba fervors to accept the transcendental and expert proclaimed, that Bwacha, whichever ordinary revelations he will receive. political vessel he chose, was bound to win. And it may be remembered that as the Many of this type of aspirants, pumped up gubernatorial elections in Taraba were by their own self-importance, were too easily impending, Senator Emmanuel Bwacha, a fooled by Col Kefas, this son of Wukari. QHDU KXJH SROLWLFDO ÀJXUH LQ 7DUDED SROLWLFV Metaphorically speaking, Kefas seemed to showed no great respect for Col Kefas and wait on the banks long enough, for the bodies the PDP when he spoke with unmitigated RI KLV SROLWLFDO RSSRQHQWV WR ÁRDW E\ +LV arrogance thus, “The PDP is not only opponents were both within and without the becoming weak; it is becoming irrelevant; PDP. In the PDP his opponents chased him in if you get power and you don’t use it a bitter contest up to the highest court in the well, people somewhere along the line are land. The contenders were two in number, bound to react.” Considering what has Hilkiah Buba-Jida and Herome Nyameh. followed, it may not be safe to speak with The Supreme Court dismissed both appeals such pessimism about Col Kefas. Surprise and declared Col Kefas as the rightful PDP is an abiding feature of his political DNA. governorship candidate. Now, as they say, He will need to use this special gift to rally the rest is history. But in winning, Col Kefas his troops, embrace his opponents and has been called not to a banquet but to regime commit to the Herculean tasks head. of rigorous service.

The election has produced new heroes No one knows this more acutely than the and unleashed a new dynamism in Taraba Governor-elect himself. Taraba State is one politics. Arguably, at the head of all this of the least indebted states in the country, but is Col Agbu Kefas. He must anoint all, even at 93.18 billion Naira, it is substantial. both opponents and supporters with the With a monthly receipt of just over three healing balm, so that they can together billion Naira, Taraba State is amongst the transform Taraba. nine least well provisioned states in the entire Nigerian Federation. Col Kefas will Olowu is a veteran Journalist

4 26

T H I S D AY WEDNESDAY MARCH 29, 2023

OPI NION

EDITORIAL

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

AVERTING THE LOOMING FOOD CRISIS The hunger crisis is real. The authorities must do more to contain the consequences

N

o fewer than 24.8 million Nigerians in 26 states and the Federal Capital Territory (FCT) could experience acute nutrition and food crisis between June and August except the authorities act on time to address pressing challenges.

This dire prediction is from the Food and Agriculture Organisation’s Cadre Harmonise (CH), a tool used by the Food Security Sector (FSS) partners to calculate food security and nutrition situation in each location, within a certain period. With the process led by the Federal Ministry of Agriculture and Rural Development (FMARD) through the National Programme for Food Security (NPFS) in collaboration with other government agencies, it is not a report to be ignored.

Highlighted in the report is the damage caused by the Central Bank of Nigeria’s (CBN) naira re-design policy. The withdrawal of the old notes from circulation created serious bottlenecks to households’ ability to access cash as well as food commodities. To compound the problems, “prolonged scarcity of Premium Motor Spirit (PMS), commonly called petrol, and the associated hike in its pump price across the states, has led to astronomical rise in transport fares and cost of food products in Nigerian markets.” The report further noted that food consumption level had remained inadequate and below the desired threshold across most of the states, and that in some local government areas (LGAs) in Adamawa, Borno and Yobe, food consumption was so critical that they had fallen under the crisis phase.

Indices of hunger and poverty have been pervasive RYHU WKH \HDUV 0LOOLRQV RI 1LJHULDQV FDQ KDUGO\ DͿRUG a good meal a day. To be sure, hunger has been a daunting challenge and has been rising for various reasons. The Boko Haram insurgency has not only led to the death of thousands of Nigerians but also led

to widespread displacement of million others from their communities and farms. The hunger crisis is H[DFHUEDWHG E\ WKH XQHQGLQJ FRQÁLFW EHWZHHQ IDUPHUV and herders in the food belt of the nation.

For an economy that largely depends on imports from petrol to fertilizers - the impact on the people has been rather tough. Today, Nigerians are reeling from soaring prices of commodities. But before the recent alarm, similar sentiment had been expressed by the United Nations organ, with prediction of a looming acute hunger in Nigeria and 20 other countries in the coming months. The gravity of the situation was better expressed in a statement

by UN’s FAO DirectorGeneral, Qu Dongyu who last year noted that “The PDJQLWXGH RI VXͿHULQJ LV alarming. It is incumbent upon all of us to act now and to act fast to save lives, safeguard livelihoods and prevent the worst situation.”

Going by available statistics, between the three states of Borno, Adamawa and Yobe, about 4.5 million people are reportedly at risk of hunger and more than 700,000 of that number are at imminent risk of starvation. In the 2022 Global Hunger Index, Nigeria ranked 103rd out of the 121 countries, chalking up a level of hunger described as “serious.”

The International Monetary Fund (IMF) had last year warned that Nigeria could slip into food crisis in the coming year and that it could degenerate into social unrest. According to the Washington-based ÀQDQFLDO LQVWLWXWLRQ WKH IRRG FULVLV ZRXOG UHVXOW IURP WKH UHFHQW ZLGHVSUHDG ÁRRGLQJ DQG H[WHQVLYH GDPDJH to farmlands across the states, and the rising price of fertilizer. In addition, IMF noted that the nation’s wide exchange rate, the high volatility on the parallel market and the government’s continued dependence on the &%1 IRU EXGJHW ÀQDQFLQJ DUH OLNHO\ WR FRQWULEXWH WR higher prices.

To be forewarned is to be forearmed.

The hunger crisis is exacerbated by the unending conflict between farmers and herders in the food belt of the nation justice being served T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

Letters to the Editor Letters in response to specific publications in THISDAY should be brief(150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (950- 1000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer

LETTERS

LAGOS AND THE POLITICS OF IGBOPHOBIA

Bayo Onanuga, during the just concluded gubernatorial election, warned Igbos in Lagos against “interfering” in politics in the state.

Onanuga, who is the director of media and publicity of the All Progressives Congress Presidential Campaign Council, issued the ZDUQLQJ LQ D WZHHW YLD KLV R΀FLDO 7ZLWWHU account, @aonanuga1956. He said, “Let 2023 be the last time of Igbo interference in Lagos politics. Let there be no repeat in 2027. Lagos is like Anambra, Imo, any Nigerian state. It is not No Man’s Land, not Federal Capital Territory. It is Yoruba land. Mind your business.” The tweet which was not deleted despite the hue and cry that trailed it, has been described as uncalled for, and a threat to our national unity and corporate existence.

Onanuga’s tweet came on the heels of his party (APC), losing Lagos to Labour Party on the 25 February Presidential and National Assembly elections. The president-elect, Bola Ahmed Tinubu, was defeated by Peter Obi in Lagos, which many considered as Tinubu’s stronghold.

The Igbos who have been in Lagos for centuries, transacting their businesses, contributing to the growth and development

of modern Lagos are not to blame for the APC’s defeat. The candidate of Labour Party, Peter Obi, enjoyed massive support not only from his Igbo kinsmen but Christians community and many youths in the country.

The 2023 election has been won and lost on the alter of ethnic and religious sentiments.

Peter Obi’s love and popularity spread like EXVK ÀUH LQWR WKH KHDUW RI PDQ\ &KULVWLDQV Among the strong contenders, he was the only Christian. And for the fact the ruling party opted for same faith ticket to win the election, Obi had to get the sympathy and votes from many Christians communities. In Lagos, it was not only the Igbos’ votes that aided him to defeat Tinubu but other tribes including Yoruba. Maybe Bayo Onanuga did not witness the voting pattern in the presidential polls. Katsina, Yobe and Osun are APC states but fell into the hands of PDP. While Benue and Rivers which are PDP-controlled states moved to the APC’s kits. Moreover, despite their businesses and other investments, Igbos have never claimed ownership of Lagos. Igbos carry the corpses of their loved ones home for burial in their respective states. During festive periods,

especially Christmas, many Igbos travel to their states to spend the time with their kith.

While Bayo Onanuga was busy throwing tantrums and brimstones at Igbos, he is not aware that like other Nigerians, they have the constitutional right to vote for any candidate of their choice. It is unfortunate that our two decades of democracy have failed to cement or promote mutual coexistence among the diverse ethnic compositions of the country. One remembers with nostalgia, in 1952, Alhaji Umaru Altine, married an Igbo woman and became the mayor of Enugu.

Umaru Altine was a northern business man from Sokoto who settled in Enugu. In Sabon Gari Kano, many Igbos were voted to the position of councillors. In other states, Hausa people were appointed as special advisers to governors. However, this good development has been thrown to the wind. One has expected the momentum to be sustained for national unity and development. Alas, what Nigerians see today is politics of ethnicity and religion. The Igbophobia during the last election in Lagos has stoked the ember of disunity and ethnic supremacy. The emergency of Sunday Igboho and Nmandi

Kanu are products of ethnic baiting. The incubator of this dangerous trend is hatred and politics of exclusiveness.

The president-elect, Bola Ahmed Tinubu, has stated that he would not form a government of national unity. Instead, he will make his appointments based on competence and merit.

While this is a welcome development, the president-elect should be mindful of the mood of the nation over his victory. His appointment VKRXOG UHÁHFW WKH IHGHUDO FKDUDFWHU +H VKRXOG “belong to everybody and belong to nobody “ to borrow from the speech of President Muhammadu Buhari. Tinubu should hit the ground running by carrying every Nigerian along irrespective of his ethnic, regional or UHOLJLRXV D΀OLDWLRQ %\ VR GRLQJ WKH SDOSDEOH tension his election generated will be doused.

The politics of Igbophobia which played out in Lagos should not be allowed to repeat itself in the future. Our constitution has given every Nigerian the right to live everywhere in the country and exercise his or her civic responsibility.

Ibrahim Mustapha, Pambegua, Kaduna State

T H I S D AY ˾ WEDNESDAY, MARCH 29, 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 8 , 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%

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10.80%

1-DAY

0.30%

YEAR TO DATE

0.22%

*AS AT LAST FRIDAY

3-MONTH

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MONTH-TO-DATE

1.44%

Bank Customers Groan as Maximum Lending Rate Reached 28.75% in February

Kayode Tokede Following the Central Bank of Nigeria hike in its Monetary Policy Rate, the maximum lending rate in the banking sector increased to 28.75 per cent in February, translating into high cost of borrowing by bank customers.

This was contained in the latest Money Market Indicators released by the CBN, which showed a 27.63 per cent maximum lending rate in January 2023.

The reported 28.75 per cent is a drop of 1.98 per cent when compared to 30.73 per cent reported in February 2022.

Maximum lending rate refers to the rate charged by commercial banks for lending to customers with low

credit rating.

The lending rate had closed 2022 at 29.13 per cent on the backdrop of CBN hike in MPR to 16.5per cent.

The Money market indicators revealed that prime lending rate to most credit-worthy customers increased to 13.62 per cent in February 2023 from 13.62 per cent in January 2023.

Prime lending rate is averaging at 16.57per cent from January 2006 to January 2023 and it reached its all-time high of 19.66 per cent in November 2009 and a record low of 11.13 per cent in March 2021.

The prime lending is largely determined by the overnight rate which commercial banks lend one to another. The rate is also important for

retail customers, as the rate directly affects the lending rates, which are available for mortgage, small business and personal loans.

Treasury bill rate was 2.09 per cent, one-month deposit rate was 7.56 per cent, three months deposit rate was 7.78 per cent, six months deposit rate was 8.91per cent, while 12 months deposit rate was 8.84 per cent.

The disparity between maximum lending and deposit rates have widened over the years.

In Nigeria, large corporates perceived as having lesser risk with a history of generating consistent cash flows are offered prime lending rates, while small businesses and individuals perceived as having

higher risk typically fall above the prime lending rate margin.

Analysts have attributed the increase in lending to the hike in MPR and severe macro economy challenges.

The CBN governor, Mr. Godwin Emefiele at the second Monetary Policy Committee (MPC) this year noted that the members debated on whether to continue its rate hike to further dampen the rising inflation trajectory or hold to observe emerging development and allow for the impact of the last five rate hikes to permeate the economy.

The National Institute of Credit Administration in a report stated that development and sustainability of micro, small, medium size enterprise

(MSME) sector in Nigeria need to support businesses with single digit loans as high interest rates was affecting economic growth.

According to the report, “The higher the Monetary Policy Rate, the higher the interest rate charged on loans and lines of credits offered to MSMEs in the country. High interest rate is an albatross to any MSME.” The report further stated that, “Because of the scale and wherewithal of the MSMEs, these factors have significant impact on their profitability. Thus, not to further aggravate the problems, it is pertinent for MSMEs to have ‘Not too difficult’ access to single digit loans. CBN in conjunction with the developmental banks should create

more sector-specific funds which MSMEs can access at single digits and without so much difficulties or strenuous conditions.”

It added, “Federal government can jump start growth and development in the MSME sector by implementing targeted tax incentive policies.

While this may immediately lead to reduction in revenue generation of the government particularly in this dire period of dwindling government revenue, the medium to long term benefits on the economy cannot be over-emphasised. Federal Government can give tax incentives in specific areas.”

Commenting, the Head, Financial Continued on page 28

Foreign Investors’ Inflow into Stock Market Drop to N13.52bn Over Political Tension Kayode Tokede Foreign investors inflow in stock market of the Nigerian Exchange Limited (NGX) dropped to N13.52billion between January and February 2023, attributable

to political tension and high inflationary pressure.

This is against N38.96billion foreign investors inflow in the stock market in the same period of 2022.

The NGX in its monthly report

titled, “domestic & foreign portfolio participation in equity trading,” revealed that foreign investors outflow decreased to N31billion between January and February 2023 when compared to N69.84 between January and

February 2022.

The report revealed that the stock market in the first two months of 2023 witnessed sluggish exposure of domestic and foreign investors as N384.01billion transactions was carried as against

N506.94billion first two months of 2022.

Domestic investors still dominate the stock market, controlling 88.41 per cent transactions, while foreign investors stood at 11.59per cent.

The report for the month

of February showed that total transactions at the nation’s bourse decreased by 3.17 per cent from N195.10billion (about $422.94million) in January5 Continued on page 28

M A R K E T D ATA A S AT T U E S D AY, M A R C H 2 8 , 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

10.362, 00 10.459, 00 10.287, 00 11.168, 00 10.386, 00

Change Updated Time (%) 10.82 -0.01 January 6, 2023 11.11 -0.71 January 6, 2023 0.00 January 11.35 6, 2023 12.60 0.00 January 6, 2023 12.92 0.00 January 6, 2023

Yield

BILLS MATURITY

Discount

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

3.01

NTB 11May-23

3.23

3.01 2.21 3.20

3.27

OTC F X F U T U R E S

CPS

Change Updated Time (%) 3.01 -0.01 January 6, 2023 6, 0.00 January 3.02 2023 6, 2.22 -1.71 January 2023 6, 3.23 0.00 January 2023

Yield

6, 0.00 January 2023

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

Change Updated Time (%) 6, 9.26 9.43 0.00 January 2023 6, 14.15 14.64 0.00 January 2023 6, 10.52 10.81 -0.01 January 2023

Discount Yield

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.

. .

.

.

.

. .

CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS JAN 25 469.87 January 6, 1 2023 2023 January 6, NGUS FEB 22 2 472.05 2023 2023 NGUS MAR 29 474.23 January 6, 3 2023 2023 NGUS APR 26 476.42 January 6, 4 2023 2023 NGUS MAY 31 478.60 January 6, 5 2023 2023

28

WEDNESDAY, MARCH 29, 2023 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Adebise: Increased Digital Technology Adoption Will Improve Service Delivery in Financial Service Industry *O UIJT JOUFSWJFX UIF JNNFEJBUF QBTU .BOBHJOH %JSFDUPS $IJFG &YFDVUJWF 0GàDFS PG 8FNB #BOL 1MD .S "EFNPMB "EFCJTF TIBSFT his perspectives on some financial services industry issues and the transformative impact of his vision for the bank and how the vision has resulted in the first digital bank in Nigeria, ALAT. He also proffers recommendations that can increase digital technology adoption in the industry to improve service delivery, efficiency of operations and boost convenience in banking. Excerpts: What are some of the changes you would recommend?

Encourage investment in technology and infrastructure: This would help to improve financial literacy, increase access to financial services, and enhance the overall competitiveness of the sector. Promote financial literacy: Improving financial literacy would help to increase the number of people who participate in the formal financial system and make informed decisions about their finances.

Expand access to finance: This could be done through initiatives such as microfinance programs, which would provide financial services to underserved populations, particularly in rural areas. Foster innovation and entrepreneurship: This would help to attract and retain talented professionals, drive growth, and create new opportunities in the sector.

Enhance regulatory framework: This would help to ensure that the sector operates in a fair, transparent, and competitive manner, which would ultimately benefit consumers, improve corporate governance and promote stability in the financial system. These changes would help to improve the overall competitiveness of the Nigerian fintech industry, increase financial inclusion, and promote stability of the financial system.

ALAT plays a significant role in Nigeria’s digital banking ecosystem, what informed the journey to this brand extension? he outcomes of the periodic surveys revealed that we were perceived as an Old generation regional bank with an aging customer base. We also started to notice a change in consumer behaviour across some key strategic customer segments like Gen Z and millennials. We then reviewed our vision to take away the need to visit a physical bank to access and provide end-to-end banking products and services. We wanted to focus heavily on embedding financial services into the lifestyle of our customers, providing extended value propositions in entertainment, travel, and healthcare among others. We focused on designing the platform to be simple, reliable and convenient to use to meet the needs of the teeming population of millennials and Gen Z’s.

T

With a disruptive initiative like ALAT and its success stories, how would you describe your expectations at the planning stage and the result of the product?

Our key expectations at the planning stages were to increase our customer’s convenience and provide access to banking services, lower operational costs, improved profitability and by extension to improve brand visibility for the bank. The launch of ALAT resulted in increased customer satisfaction, a higher adoption rate of our banking services, and a major shift from the traditional banking industry towards digital solutions.

Since 2017 when it launched, ALAT has won many awards and the most recent being the Overall Best Mobile App at the Nigerian FinTech Awards 2022, where do you wish to see ALAT in the next five years?

We want to see ALAT continue to grow and expand its market share as the leading player in the digital banking industry in Nigeria over the next five years. We want to expand our presence in other countries in Africa, as well as introduce new technologies that further enhance our customer experience and provide new services that meet the evolving needs of our customers and the digital ecosystem. I also want to see Alat as the leading collaborator/platform with other players in the global financial services sector providing innovative solutions to many startups and financial industry stakeholders.

Adebise

How did ALAT impact financial inclusion and youth banking in Nigeria?

The digital nature of ALAT allows for easy and convenient access to financial services, particularly for younger generations who are more comfortable with technology. This has helped to increase financial literacy and encourage more young people to engage with the formal banking sector, contributing to financial inclusion in Nigeria.

and your team manage resistance to change especially during the audacious move for ALAT? My team and I recognized that resistance to change is a natural part of the change process and we approached it proactively.

We engaged in open and transparent communication with stakeholders to understand their concerns and address any objections they may have had. We emphasized the benefits of the changes and made sure to involve stakeholders in the decision-making process whenever possible.

Additionally, we used data and evidence to support our case for change and made sure to provide resources and support to help stakeholders adapt to the new initiatives. We also recognized and rewarded those who supported the changes, which helped build momentum and encourage others to get on board. Overall, our approach was focused on building trust, addressing concerns, and fostering a shared understanding of the benefits of the changes we were implementing. Through this collaborative and inclusive approach, we were able to successfully manage resistance and drive the audacious move for ALAT

As a transformational leader, how did you

In your opinion as an expert and an

accomplished banker with over three decades of experience and meritorious service, do you think the Nigerian fintech Industry is growing at an optimum rate?

I believe that the Nigerian fintech banking sector is growing, but it may not be at an optimum rate. While there has been significant growth in recent years, there is still room for improvement in terms of financial inclusion, particularly in rural areas. Additionally, the sector faces challenges such as limited access to credit , corporate governance issues and insufficient infrastructure, which may be limiting its growth potential.

However, I am encouraged by the government’s efforts to support the growth of the sector through policies and initiatives aimed at improving financial literacy and access to finance for all citizens. I also see a growing number of fintech startups and innovative solutions that are helping to drive growth and improve the sector’s overall competitiveness. In conclusion, while the Nigerian fintech Industry is growing, there is still a lot of work to be done to achieve its full potential. I believe that continued investment in infrastructure, education, and technology will be key to unlocking the sector’s full growth potential, as well as support from Regulators

Do you have any other innovative products that will further enhance financial inclusion in Nigeria?

I believe that there are several innovative products that could further enhance financial inclusion in Nigeria. Some of these include: r 5BJMPSFE 'JOBODJBM UFDIOPMPHZ TPMVUJPOT for SMEs: This would provide small and medium-sized enterprises with access to financial services, which would help to support entrepreneurship, promote job creation, and stimulate economic growth. r $SPXEGVOEJOH QMBUGPSNT $SPXEGVOEJOH platforms can help to connect investors with entrepreneurs and provide access to finance for individuals and small businesses that may not have access to traditional sources of funding. r "HSJDVMUVSBM àOBODJOH TPMVUJPO 5IJT XPVME provide financing for small-scale farmers and help to promote agricultural development, which is critical for the growth and stability of the Nigerian economy. r .JDSPàOBODF TPMVUJPOT .JDSPàOBODF solutions, such as small loans and savings programs, can help to empower individuals and small businesses and increase their access to finance.

These innovative products have the potential to further enhance financial inclusion in Nigeria, providing access to financial services to a wider range of individuals and businesses and promoting economic growth and stability.

Interestingly, these are some areas that our team at Wema are already introducing various experiments within the ambit of regulations, but hoping to further differentiate in the types of products and services that we offer.

FOREIGN INVESTORS’ INFLOW INTO STOCK MARKET DROP TO N13.52BN OVER POLITICAL TENSION 2023 to N188.91billion (about $409.72million) in February6 2023.

According to the report, “The performance of the current month when compared to the performance in February 2022 (N183.56billion) revealed that total transactions increased by 2.91per cent.

“In February 2023, the total value of transactions executed by Domestic Investors outperformed transactions executed by Foreign Investors by circa 80per cent.

“A further analysis of the total transactions executed between the current and prior month (January

2023) revealed that total domestic transactions decreased by 0.53per cent from N170.20billion in January to N169.29billion in February 2023.

“However, total foreign transactions decreased more significantly by 21.20per cent from N24.90billion (about

$53.98million) to N19.62billion (about $42.51million) between January 2023 and February 2023.”

Over a 16 year period, the report disclosed that domestic transactions decreased by 45.30per cent from N3.556trillion in 2007 to N1.945trillion in 2022 whilst

foreign transactions also decreased by 38.47per cent from N616bn to N379billion over the same period.

“Total domestic transactions accounted for about 84per cent of the total transactions carried out in 2022, whilst foreign transactions accounted for about 16per cent

of the total transactions in the same period.

“The transaction data for 2023 shows that total domestic transactions are circa N339.49billion, whilst total foreign transactions are circa N44.52billion,” the report added.

reduce inflation.”

The Vice president, Highcap Securities Limited, Mr. David Adnori had said the gap between UIF $#/ T MFOEJOH SBUF BOE UIF maximum lending calls for concern

in the banking sector.

According to Adnori, “The gap between the MPR and average maximum lending rate is almost doubled and it indicates a serious rant-seeking within the industry.”

BANK CUSTOMERS GROAN AS MAXIMUM LENDING RATE REACHED 28.75% IN FEBRUARY Institutions Ratings at Agusto & $P .S "ZPLVOMF 0MVCVONJ IBE said the gradual increase in MPR impacted on average maximum lending rate since 2022.

He noted that the increase, of

course, would affect businesses and probably reduced borrowing rate in the banking sector.

He said, “For businesses that have taken loans, they will be paying more interest rate on these loans and it

will affect their profitability. Also, any businesses or individuals that wanted to borrow money now will think twice amid hike in interest rate.”

Olubunmi added that, “The hike

JO .13 CZ $#/ JT B DPOUSBDUJPOBSZ monetary policy. The move is to reduce the number of people that will take new loans and it will reduce the amount of money in circulation which is expected to

T H I S D AY ˾ WEDNESDAY, MARCH 29, 2023

29

BUSINESSWORLD

INTERVIEW

Adeoye: What Nigerian Banks should Learn from Collapse of Silicon Valley Bank Amidst the fear that the closure of the United States-based Silicon Valley Bank, the bank of choice for many venture capitalists and startups, may affect Nigerian banks and startups, Executive Director, Operations/Chief Rating Officer, DataPro Limited, Mr. Oladele Adeoye, in this interview with Festus Akanbi discusses issues that precipitated the fall of SVB and lessons for Nigerian banks What lessons do you think Nigerian banks can learn from the collapse of the American bank, the Silicon Valley Bank? he first lesson should be that our banks should develop the capacity to have a practical understanding of the behavioural pattern of their market of operation. It does not matter whether you intend to play big in the retail, wholesale, or agricultural sector. You must develop the capacity to see through the lens of time to know when the party is over in a sector and cut down on your losses. There must be a deliberate action plan to pull the plug when you discover that your bank is highly exposed to a particular sector. On the fund supply side, banks must be deliberate to diversify their risk in the event of excessive exposure to a particular sector. The Central Bank of Nigeria has a guideline on the single obligor limit as well as Bank’s maximum exposure to connected persons and sectors. Banks should learn also not to breach this to avoid a repeat of the financial tsunami of 2010 and the sort of collapse that befall SVB.

for the collapse. However, in my opinion, the major cause of that collapse was concentration risk. The unfortunate part of concentration risk does not show during the period of the boom because you are exposed to a sector that is performing. However, whenever there is a squeeze in your sector of exposure, you are bound to be affected. The bank would not have gone down if it has properly diversified its deposit base. The secondary issue was the inappropriate matching of assets and liabilities. I expected that the bank would know its primary market deposit behaviours are largely short-term. It, therefore, stands logic on its head while fund belonging to such sector was invested in long-term instruments. Yes, that instrument is safe to the extent that it guarantees your principal at maturity.

However, the rate sensitivity is so high that you may not realise your full value if you fail to hold the instrument to maturity. This is what happened to SVB.

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What, in your opinion, is the most significant issue that led to the collapse of SVB? There is a need for us to look into the facts of the SVB profile from information gathered from the public domain. The bank was a niche player catering to the financial needs of tech-based start-up companies. These companies formed the buck of their deposits and loans.

At the peak of the Covid-19 pandemic, the US Fed reduced interest rates to near zero per cent to stimulate the economy. This essentially led to increased borrowing and by extension inflation.

The bonds issued then were also at near zero per cent interest rates.

The period under reference was the boom period for SVB given that deposits recorded from its primary market, technology, and venture capital tripled at that time. Therefore, the bank put its excess fund into the long termed near zero interest bond issued by the government.

To tame inflation, the government began to raise interest rates upon which new bonds were issued. The implication of this was that the value of the earlier bonds bought with depositors’ funds by the bank began to fall. Unfortunately, the cost of funds began to rise for everyone including the

Adeoye customers of the bank. This is in addition to the venture capital investors becoming edgy on account of the voluntary wound-down announced by Crypto-focused bank, Silvergate Capital Corporation at the about same time.

These factors necessitated depositors to start calling for the withdrawal of funds. The bank could not raise its planned additional capital of $2billion which would have helped to enhance its liquidity. Therefore, the bank was pressed to sell off its investment at a loss of $1.8b to meet depositors’ needs.

The regulatory filing of that loss on the 8th of March 2023 by the bank was viewed by its banking public as a sign of insolvency. This led to panic withdrawal as everyone who had deposits above US permitted insured limit of $250,000 called for their money.

I have read commentaries on the reason

It was obvious the bank was not paying attention to prudential and regulatory issues: Where were the supervisory agencies in all this?

First of all, the Dodd-Frank Act was signed into law by the Obama regime which introduced strict measures for banks operating in the United States following the financial crisis of 2008. However, Donald Trump rolled back some of these measures for small banks operating at less than $250b assets referring to those laws as “excessive bureaucracy”. Given that Supervisors will have to work within the ambit of law and regulations, it is expected that there is enough law to ensure that banks are sound safe, and secure. Although operators would think differently, always believing that banks are over-regulated.

Secondly, it is also important to note that the supervisors will not micro-manage the institution. That is why governance is key in every bank. The board must be disciplined enough to respect policies put in place for the effective and efficient running of its organisation.

Experience has shown including this particular case of SVB that momentary successes do not always guarantee that the bank will always be there in the face of reckless behavior and

irrational investment decisions.

Some have blamed poor Corporate Governance issues for the collapse. What gaps were left unchecked in your opinion? The board of any institution is responsible for the determination of the Risk appetite and tolerance of any Bank.

They have that task to determine when the limit is breached and the need to quickly fix that before it degenerates to a level where such could no longer be tamed. In the instance of SVB, the choice of a business segment to serve and investment securities to apply depositors’ funds would be made or ratified by the board. Therefore, the Board could not be held blameless in all of these. While we may not be able to fault Board composition and balance of power on the Board of the bank, it is obvious that there was a poor investment decision.

The asset-liability management practices in the bank have also been called to question.

What in your opinion went wrong?

Like I said at the beginning, the fundamental problem was that the SVB was servicing largely a particular sector of the economy with the short-term need of their fund. However, funds belonging to that sector were applied to long-term securities with high-interest rate sensitivity. The mismatch created problems for the Bank in the final analysis.

So, it is right to say the ALM practices were faulty.

It is expected that your fund should be optimally pro-rated in a way to derive optimality. That is, an idle fund to be deployed to generate income while having a contingency fund to meet maturing obligations without incurring the needless cost.

It seems external factors such as government policies and actions play a significant role in the soundness and stability of Banks: How can banking operators mitigate against unfavourable government policies to avoid failure?

Banks must build intelligence. A high-level research team to monitor macroeconomic indices within the economy of their operation. Constant scanning of the external risk factors which include regulatory focus, compliance barometer, and market dynamics. All of these are to be constantly monitored by financial institution operators. The benefits derivable from these ventures are the ability to predict government policy direction and the enhancement of the capacity to respond as appropriate.

Taming Inflation With Interest Rate Hike Nume Ekeghe examines the decision of the Monetary Policy Committee of the Central Bank of Nigeria to raise the benchmark interest rate by 50 basis points and its implication on the nation’s economy

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he Monetary Policy Committee of the Central Bank of Nigeria (CBN) last week rose from its 290th meeting in Abuja raising benchmark interest rate by 50 basis points and leaving all other parameters unchanged in line with its tightening stance.

In an effort to curb the rising inflation, the MPC had at its previous five meetings raised the Monetary Policy Rate. The latest makes it the sixth time in a row, as the apex bank races to rein in inflation.

Despite a marginal decline in the inflation in December last year, the rate at which prices rise resumed its upward trend in January and February this year rising to 21.91 per cent last month according to the latest data from the National Bureau of statistics.

At the end of the two-day meeting last week, the 12-member committee resolved by a majority vote to raise the MPR by 50 basis points. In Summary, 10 members voted to raise the MPR by 50 basis points, one member voted to raise the MPR by 25 basis points and one member voted to hold the MPR. They all, however, voted to keep all other parameters constant, thus the MPR was raised to 18 per cent, retained the asymmetric corridor of +100/-700 basis points around the MPR, the CRR at 32.5 per cent; and the Liquidity Ratio at 30 per cent.

INFLATIONARY CONSIDERATIONS

Speaking at the end of the meeting, the Governor of the CBN, Godwin Emefiele said the MPC had observed with concern, the marginal increase in headline inflation (year-on-year) in February 2023, to 21.91 per cent, from 21.82 per cent in January 2023, a 0.09 percentage point increase.

“This increase was attributed largely to a minimal rise in the food component to 24.35 per cent in February 2023, from 24.32 per cent in January 2023, while the core component moderated to 18.84 per cent in February 2023, from 19.16 per cent in January 2023. The shocks to the food component were driven by high cost of transportation of food items, lingering security challenges in major food producing areas and legacy infrastructural problems, which continue to hamper food supply logistics.

“Headline inflation, in the view of members, remained high with increased expectations of price development, due to the perennial scarcity of PMS and ongoing discourse around the removal of fuel subsidy. With the prices of other energy products also rising, members stressed the importance of addressing price development, ”he said.

GROWTH CONSIDERATIONS

With analysts arguing that the consistent tightening will hamper economic growth, the committee noted that while the continued rise in headline inflation remained a significant problem confronting the economy, other macroeconomic variables are moving in the right direction, despite observed headwinds.

Data from the National Bureau of Statistics (NBS) showed that Real Gross Domestic Product (GDP) grew by 3.10 per cent in 2022. In the fourth quarter of 2022, it grew by 3.52 per cent (year-on-year), compared with 3.98 per cent in the corresponding period of 2021 and 2.25 per cent in the preceding quarter.

The MPC noted that the economy maintained

a positive growth trajectory for nine consecutive quarters, since exiting recession in 2020.

“The improved performance was driven largely by sustained growth in the services and agricultural sectors, a rebound in economic activities associated with economic recovery and continued intervention in growth enhancing sectors by the Bank. Staff projections showed that output growth recovery is expected to continue into 2023 and 2024, ”it stated.

Having it in mind that loosening could reverse the slowing rise in inflation, the committee had considerations had been on continuing its tightening to further dampen the rising inflation trajectory or hold to observe emerging development and allow for the impact of the last five rate hikes to permeate the economy.

Emefiele noted, “The MPC observed the continued upward risk to price development around expectations on the removal of the PMS subsidy; rising prices of other energy sources; continuing exchange rate pressure; and uncertain climatic conditions. These in the view of members, provides a compelling argument for an upward adjustment of the policy rate, albeit, less aggressively. The Committee, however, 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.”

IMPORTED IMPACT CONSIDERATIONS

Asides from these, the committee also

considered the impact of international events on the economy. The MPC noted that renewed fears of a global financial contagion are forcing investors to move away from the equities market to safer assets such as gold, while others seek higher returns in treasury securities with improved yields.

“With several Advanced Economy central banks progressing with monetary policy normalization, global financial conditions will likely remain tight, thus reinforcing the reassignment of financial portfolios to reflect the risk aversion of investors.

“MPC focused its attention not only on the inflationary trends in most major economies, but also on the reported impact of policy rate hikes: aimed at rein-in inflation on financial system stability in the global financial system.

“The MPC hence took time out to discuss the recent bank failures in the US and Switzerland, an event that occurred following the persistent interest rate hikes in the US, and how this has adversely impacted the broad portfolio of banks in the US. It noted that whereas MPR was increased by 500 basis points in Nigeria, from 12.5 per cent in 2022 to 17.5 per cent in January 2023, the Financial Soundness Indicators (FSIs) in Nigeria shows that the Nigerian banking system remain resilient due largely to the stringent prudential guidelines put in place by the CBN which has resulted in a strong build-up of not only the Cash Reserve Ratio (CRR) in Nigeria, but also the Liquidity Ratio and capital Adequacy Ratio, “it stated.

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

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WEDNESDAY MARCH 29, 2023 •T H I S D AY

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T H I S D AY ˾ Ͱͷ˜ ͰͮͰͱ

CITYSTRINGS

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The Oloyos and their Umbilical Cord of Benevolence to their Roots In significantly contributing to the prospects of a promising future of 318 students in public schools in Ayetoro-Gbede and Igbaruku communities of Kogi State, United States of America-based couple, Dr. Sam and Mrs Julie Oloyo, just offset all the outstanding school bills. But beyond this, Precious Ugwuzor reports that the couple, through their Global Health and Indigent Care Foundation Incorporated platform, is committing about N7million to this inaugural phase of intervention in education support, a part of which will be channeled to the payment of teachers of STEM at the Community High School, while the rest goes into the payment of school fees arrears, merit and scholarship awards

The scholarship beneficiaries

Dr. Oloyo

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n a country where basic education has moved from being a right to becoming the privilege of the fortunate, and in a locale where the inability to raise N5,000 (about $7) may force a child out of school, the humanitarian and social advancement gestures of a United States of America-based couple, Dr. Sam and Mrs Julie Oloyo who have just offset all the outstanding school fees of 318 students in public schools in Ayetoro-Gbede and Igbaruku communities of Kogi State have significantly contributed to the prospects of a promising future for the youngsters.

To create a deeper thirst for excellence, a total number of 39 others received cash reward for their outstanding performances in their academics.

The immediate impact of the intervention by the Couple’s platform, Global Health and Indigent Care Foundation Inc (GHICF), was unmistakable at the Ayetoro-Gbede town hall, as the students, their parents and their teachers broke out in ecstasy when the package was unfolded and the benefits were handed over to the Heads of the various schools.

The schools are; Community High School, Government Secondary School, UBE1 and UBE2. The beneficiaries received the bail out from the foundation, in what a school head described as ‘buying back of the education life of the students’. He was in a position to know, because some of the students had abandoned school, either owing to the recovery actions taken by the school authorities or due to the stigma the failure to fulfil their financial obligations had earned them among their peers.

The current beneficiaries were, therefore, because there were others in their category, who, without any helper or supporter dropped out of school for good and have remained stuck in the community, in perpetual abortion of their educational pursuit.

Situating the intervention within the context of his childhood in the Community, Dr Oloyo in an address to the students recalled his days in the kindergarten and primary schools, after which he moved out for his secondary and tertiary education, leading ultimately to his qualifying as a Medical Doctor at the University of Ibadan.

He later relocated to the United States of America with his wife, an indigene of Igbaruku, Kogi State. For upwards of three decades they have provided foremost medical services in the United States of America. In all their sojourn they never stop to domesticate their expertise and material resources.

Very often the couple remain knitted to their roots, stretching the long arms of their benevolence to the needy, year on year. It was

Students at the event against this experiential transition from that corner of the world to the global ladder that Dr Oloyo encouraged the beneficiaries to be resolute, focused and diligent, the circumstances of their current deprivations notwithstanding.

He gave more than the material requirements for the moment by offering a lifetime, mind-shaping and self-assurance nuggets to his mentees. Moved by the kindness and the encouragement of their benefactors, the students undertook to justify the investment on their future.

The GHICF has carried out various interventions in medical, food relief and educational support in both Ayetoro-Gbede and Igbaruku.

Each time, the Foundation works with a not- for- profit body, The Ayetoro-Gbede Global Network (AGN) alongside a Local Organising

Committtee.

On this project the Scholarship and Educational Assistance Progamme Committee was in place to implement the intervention. The Committee, which has a retired Banker, Mr Richard Olonishuwa as Chairman, has also on board, Mr. Eniola Bello, Managing Director of THISDAY Newspaper; Professor Adesiji Olorunmaye of the University of Ilorin; Mr. Paul Ibidun of Systemspecs; Mrs Funke Esseyin, Regional Head at the United Bank of Africa; and Richard Akanmode, who is the Secretary of the Committee.

Detailing the plan of the programme, the chairman revealed that the foundation, working through the committee, would provide support for indigent students in the four public secondary schools as well as students of the community origin who currently study in public universities.

While the beneficiaries at the secondary school level have been selected and their outstanding fees have been defrayed an advertisement has been placed for the response of university students, who would be selected later.

The ultimate objective is not only to support the students through school but to groom specialists and professionals, who could not only become economically independent but be capable of supporting the dream of succeeding generations

The ultimate objective is not only to support the students through school but to groom specialists and professionals, who could not only become economically independent but be capable of supporting the dream of succeeding generations.

The GHICF is committing about N7m to this inaugural phase of intervention in education support. A part of this fund will be channeled to the payment of Teachers of Science, Technology, Engineering and Mathematics (STEM) at the Community High School, while the rest goes into the payment of school fees arrears, merit awards and scholarship awards.

The foundation and the implementation committee was emphatic in letting parents realise that the intervention may not be an annual ritual. The need to ensure the retention of their wards in school was effectively communicated.

There are prospects that the foundation may continue to support education in succeeding years, but this could be in other ways. Whatever happens, the lifeline offered in this phase may make a permanent difference in the lives of some of the students, and even their parents.

With the latest execution in the bouquet of humanitarian assistance by GHICF, the signature of the Oloyos is assuming a permanent mark on the stable of the social advancement of the people in their communities of origin.

Within the last decade, the foundation has executed two medical outreaches, two food relief packages and the current support for education. There are other areas the Oloyos have intervened that are known by the Community Development Association and the Ayetoro-Gbede Global Network(AGN).

The foundation has worked through the AGN to carry out transparent and group-focused activities, using mutually designed templates.

The implementation support provided to GHICF by the AGN is a model for adoption

by Nigerian Philanthropists and donors, who often fear that interventions might not reach the intended beneficiaries.

More importantly, the deep inclination of the Oloyos to keeping their impoverished folks in the village close to their hearts rather than yielding to the temptation of being insulated by the splendour and accessories of the first world is a remarkable attitude worthy of emulation by those in similar economic and social brackets.

As it is the case with a baby and its relationship to the umbilical cord in the womb, the Oloyos have remained inseparable from their homeland and the needs of their people. With hearts full of appreciation, the beneficiaries of their latest act of compassion smiled home, and in the recesses of their grateful hearts seemed to lurk a probe. What will the Oloyos do next?

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T H I S D AY ˾ WEDNESDAY MARCH 29, 2023

EDUCATION Kate David: Tenacity, Dedication Made Me MTN One-Day CEO In this virtual interview with Funmi Ogundare, a student of Talentfield Academy, Nasarawa, Kate Ene David, who won the MTN mPulse Spelling Bee competition to emerge as MTN’s one-day chief executive officer, explained why she is choosing to conquer the world of vocabulary to achieve the feat

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hen news broke on November 26, 2022, that a 15-year-old student would be leading MTN, many Nigerians were eager to know how she could achieve such

a feat.

Many people expressed astonishment in the comment section of the post on MTN Nigeria’s Instagram page announcing Kate Ene David’s achievement.

Kate Ene, MTN Nigeria’s CEO for a day on February 1, 2023, is not your average 15-year-old.

She is an ambitious teenager with multiple prizes on her shelf, from participating in spelling bee competitions to increasing and brushing up her vocabulary knowledge. These perks are great for the scholar who hails from Itabono in Owukpa district in Ogbadibo LGA of Benue State, but they are not her driving force.

When THISDAY spoke to her over a Zoom call with her father, Mr David Ene, who had enthusiastically rushed down from an important outing to meet the scheduled time for the interview, she seemed relaxed over the phone.

Picking her words carefully while answering more eloquently than you would expect a 15-year-old to respond, Kate took this reporter down memory lane of how she found love for vocabulary, using clear, concise words and speaking with a world of knowledge.

Born into a family of nine that cherishes and embodies academic excellence, she said, “My father, Mr Abah David, is an educationist who runs his own school, Talentfield Academy in Nasarawa State, while my elder brother is also a super speller who holds an O-level certificate and is currently seeking admission to study Computer Science.“ Her family’s academic excellence and discipline have influenced her to start participating in spelling competitions from her time in Junior Secondary School (JSS).

Kate said she officially started representing her school in competitions in JSS2 and started

Kate David developing her spelling skills in primary school by watching her elder brother prepare for these competitions.

“My elder brother is a spelling bee champion himself. I would say he ignited my passion for the spelling bee because I usually assist him in calling out the words for him to practice their spelling. In doing that, I also developed more interest in the competition myself,” she told THISDAY. Considering the fact that her father is an educationist, it is no surprise that he has dedicated his time to leading his children toward academic excellence.

“My father deserves the accolades.

He pays for any competition that comes to his knowledge and also provides the necessary study materials. Even at home, he helps manage my time to

encourage me to study for every competition I enrol for. He is diligent and believes in excellence,” the student explained.

For five years, with the help of her family, she has been competing, winning some and losing some as she sought knowledge, but not until the MTN Mpulse competition in 2022 left a significant influence on her life. As she not only won a N2.5 million scholarship grant, a laptop, a smartphone, and an MTN goody bag, but she also became the first female CEO of MTN Nigeria.

Even if it was for a day, not many people could say they have achieved such a feat.

“I am excited. I didn’t imagine myself being the CEO at such a young age. So I would say that it’s one of the best things that has ever happened to me. Being a CEO of a large organisation at such a young age is something that is very exciting,” she added.

She added that before the competition, her school had spent six hours assisting her with

teaching resources on spelling and grammar to put her through, which helped her win the competition.

On what she plans to study in the future, Kate said, “Biology claims that organisms evolved, while spirituality, the Bible to be specific, says life came by God. These are things that I have always sought after their answers.”

MTN mPulse was a step towards achieving this goal, as she noted that she decided to apply for the competition because she desired a scholarship.

But the student did not only get a scholarship, she got the knowledge and used her opportunity to help needy students.

“With the help of MTN, I launched the mPulse education data bundles for students, a bundle that comes with 250MB to 4GB. The 250MB is viable for one week, while the 4MB works for 30 days. It is a discounted offer for students and young people,” she disclosed. “The educational bundles are really for children who do not really have access to quality educational materials, this is going to assist them in their academic work because they pay little for a large amount of data bonuses, and with this, they could learn more. I believe that any student who is willing to improve in their academics would benefit from this.”

Kate described the initiative as a direct interpretation of what she claimed to have learnt from MTN’s CEO, Karl Toriola, saying, “I was amazed at how well he handled his affairs and how he had time to mentor teenagers like her even with the great position he held. Learnt from him that whatever you are doing, you should have time for humanity; that’s what he displayed that day.”

She revealed that she had not passed through any major challenges while preparing for the MTN mPulse competition apart from the need to study rigorously, She noted that the process had prepared her for her future plans as she plans to take online UI/UX designing courses while preparing for her forthcoming transitory exams to the university.

Queen’s College PTA Seeks Increased Funding of Unity Colleges Uchechukwu Nnaike

The Chairman of the Parent-Teacher Association (PTA) of Queen’s College, Lagos, Mr Adedamola Adewuyi, has called on the federal government to increase the budgetary allocation to unity schools in the country to enable it to continue the tradition of excellence.

Adewuyi, who has completed his three-year tenure as PTA chairman, said this at the general meeting of the association weekend, where a five-member electoral committee was set to conduct the election of new PTA executives.

Other members of the outgoing PTA executives are: Mrs. Chiedu Nwokolo, Vice-Chairperson; Mrs. Abiodun Amodu, PRO; Mrs. Meroyi, General Secretary; Mr. Abiodun Oladejo, Assistant General Secretary; Mrs. Maimuna Usman, Treasurer; and Mrs. Chinye Okolie, Financial Secretary.

The chairman bemoaned the poor state of facilities, saying that the government needs to do a lot to maintain the infrastructure, replace outdated equipment and build new structures to avoid overstretching existing ones.

He also suggested the establishment of a funding agency for unity schools, similar to the Tertiary Education Trust Fund (TETFund).

Adewuyi stated that the government had stopped employing non-teaching staff, and the responsibility is now on the PTA, which currently has 113 staff (58 teaching staff and 55 non-teaching staff) on its payroll.

According to him, the overall PTA staff salaries per month are about N5 million, which makes it about N20 million per term/quarter.

“Before our previous proposition to have an academic and developmental levy, PTA income was about N15 million termly from our N5,000 levy, with the additional N2,000 academic/development support, our basic inflow became about N21 million termly. This means only N1 million will be available for interventions throughout the term going forward except the Federal Ministry

The outgoing PTA executives with the principal, staff and other stakeholders at the general meeting, which coincided with the principal’s birthday of Education sends in more teachers or recruits from our PTA teachers or staff to free up resources,” he said.

According to him, despite the paucity of funds, his administration harnessed CSR and parents’ support to execute several projects which significantly impacted the school environment and students’ performance.

Highlighting some of his achievements, the outgoing chairman said at inception in 2020, the school environment was full of rancour, impacting the overall academic performance. But his administration came in as progressives to stabilise the system.

He added that the PTA executives worked well with two principals, yielding many laudable achievements.

In terms of academics, he said his team helped improve the standard of internal examinations, eradicated the merging of classes by recruiting teachers,

and instituted the PTA award for outstanding students in junior and senior schools and UTME. Also, he said the PTA introduced a complaint form and improved PTA teachers’ welfare with salaries ranging from N40,000 to N80,000.

“Increasing staff salaries was very necessary to stop the increasing wave of resignation and loss of good hands we have developed to private schools. We beseech the FME to expedite action on the conversion of old PTA teachers to FME status and also recruiting non-teaching staff,” the chairman said.

He added that the PTA provided teaching aids for some departments, provided e-learning facilities in collaboration with management, teachers and parents, and organised staff and student workshops on different topics.

According to him, his administration facilitated the adopt a chair drive among parents and vendors, which birthed 250 chairs used during external examinations. He said the PTA supported the students in many academic competitions where

they won medals and laurels.

On infrastructure renewal and optimisation, Adewuyi said some of his administration’s projects included water storage and reticulation, water treatment support, stand-alone water system, toilet revamp, netting of hostels, equipping of guidance and the counselling unit, procurement of lawnmowers and professional expertise of external gardener, procurement of petrol generators for dining and prep.

Other projects are the procurement of an 18-seater Hummer 3 bus; regular fumigation of hostels and environment; procurement, installation and repair of fans; mobilisation of four interactive boards during COVID-19 to aid e-learning; improved PTA portal; maintenance of PTA procured 200KVA diesel generator; revamp of PTA office and board room, etc.

He advised the incoming chairman to be peaceful, dynamic and patient.

The college’s principal, Mrs Oyindamola Obabori, who commended the outgoing PTA executives for their support, enjoined parents to cooperate with the electoral committee to ensure a smooth transition, having the well-being of the children as the focal point.

She said on her assumption of office, she confronted and solved the perennial water problem in the college, and the college now enjoys clean, uninterrupted and uncontaminated water, free from iron content.

Despite her administration’s achievements, she said some of its challenges include inadequate staff, inadequate accommodation for staff and students, overstretched classrooms, inadequate power supply, paucity of funds, decaying facilities, inflation and exchange rates, among others.

In her remarks, the School-Based Management Committee (SBMC) chairwoman, Mrs Modupe Okebukola, stated that parents’ contribution is essential to move the school forward and ensure their children’s success because the government cannot do it alone.

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T H I S D AY ˾ WEDNESDAY MARCH 29, 2023

EDUCATION

Governments Urged Sex for Grades Prevalent in Nigeria’s Higher to Promote Girl-child Institutions, Says UNFPA institutions of learning impedes is promoting this course with up leadership roles.

Education the development of women, as the mentor/mentee programme She stated that innovation Oluchi Chibuzor

Kemi Olaitan in Ibadan

Governments at all levels have been advised to implement policies to promote the girl child’s education for a better society.

Participants, including school girls, teachers, educationists and other stakeholders, said this at the screening of a documentary, ‘Breaking Barriers: The Journey of Girl-child Education in Nigeria’, organised by Onelife Initiative, in partnership with Youthhub Africa and with support from Malala Fund.

The Executive Director of Onelife Initiative, Moyin Ishola, said the idea behind the documentary and bringing it to a cinema hall was to give the students from six schools in Ibadan, Immanuel Secondary School I and II, Sango; Immanuel Grammar School, Sango; Oba Akinbiyi Secondary School, Mokola;

Humani Alaga Secondary School, Sango and Eleyele Secondary School, Eleyele, a new learning experience.

He said the organisers also want to hear from the students on what they want the government and other stakeholders to do to improve the quality of their education, especially now that new and old political officeholders will be setting new agendas at the federal and state levels on education.

The Deputy Director of Secondary School Services, Mr J.O. Oladapo, who represented the Oyo State Ministry of Education, explained that research has pointed to the high intelligent quotient of females all over the world, with several of them incorporated into public affairs, stating that when girls are denied education, they are denied opportunities to showcase their talent and also contribute to nation building.

More than 20 per cent of women have experienced sexual and gender-based violence in Nigeria, with cases of sex for grades still prevalent in higher institutions, and these destroy the self-esteem of victims.

The country representative of the United Nations Population Funds (UNFPA), Ms Ulla Mueller, disclosed this at an event to commemorate International Women’s Day, organised by Lagos State University Centre for Response and Prevention, Sexual and Gender-based Violence, in collaboration with UN. Mueller stated that women need to take the mantle of leadership and be resilient, adding that one in three women has experienced sexual gender-based violence (SGBV), while sex for grades in

preparing them for the future.

Speaking on the basic principles of money, the savings culture, and budgeting, Mracajac said, “It is important to spend your money wisely. One of the ways to help you spend your money wisely is to make a budget. To make a budget, you need money. So, you plan on how to split your costs into wants and needs. It is important to carefully distinguish between what we truly need and what we merely desire, to properly plan and manage a budget.”

Highlighting the need to grow money through investment and the dangers of wrong or uninformed investments, Mracajac stressed the need to invest in proper channels and include a financial plan in order to avoid bankruptcy.

“When you get older and start making serious money, you will begin to make financial plans towards investment. It is, however, important to be mindful about how you invest as some investments can go wrong and lead to the loss of the principal money,” Mracajac added.

She expressed 9PSB’s full

of its essay competition on the environment.

The competition, open to senior secondary school students in Abuja, was designed to encourage young people to think critically about environmental issues and raise awareness about environmental protection and sustainability.

The essay competition with the theme: ‘How is Overpopulation Becoming a Global Pandemic to the Environment?’ received an overwhelming response from participants from over sixty public secondary schools in

victims suffer from self-esteem issues.

“A recent nationally representative survey of female population (students, support staff and teaching faculty) institutions of higher education showed that 20 per cent of the survey participants experienced various forms violence including sexual harassment, stalking, assault, dating violence, denial opportunities and promotions, sex grades, bullying, online violence, in the last one year on campus,” Mueller stated.

She advised the government that paedophiles and sex offenders should have their names listed on the sex offenders list to serve as a deterrent.

While highlighting SDG5 as an enabler of gender equality in society, Mueller said the UNPFA

for women to embolden, protect, and stand up for each other as the UNPFA is committed to ending SGBV cases while supporting gender equality to innovate in the technology space.

The UNPFA country representative applauded the prowomen initiative of the Lagos State University Vice-Chancellor, Prof Ibiyemi Olatunji-Bello, since her assumption of office while congratulating the institution for the mentorship programme to canvass for a noble course for women and the girl-child.

Olatunji-Bello explained that with sexual gender-based violence being predominant among issues affecting women globally, women are charting a new course in development and have been deferred to take

in technology with gender equality would be a gender response to engaging in technological advancement in digital technology to meet the SDG 2030 target set by the United Nations.

While calling for women to be encouraged and nurtured in technology, she also tasks the government to protect women in politics.

Olatunji-Bello further clamoured for a level playing ground for both sexes, calling for the women and girl child to be resilient and break barriers to end sexual and gender-based violence.

Experts at the plenary session agreed that as gender inequality impedes the development of females, it also impacts the digital gender gap in economic and social inequalities.

9mobile Rewards Winners of 2022 Essay Competition 9PSB Takes Financial Literacy to on Environment has announced the Abuja, and after careful review the winners on their outstanding tions, commended 9mobile for Schools in Lagos, Kano, Abuja 9mobile winners of the maiden edition and evaluation, Ukwuoma achievements. the essay competition.

Uchechukwu Nnaike

As part of activities marking this year’s Financial Literacy Day, 9 Payment Service Bank (9PSB) has organised a school mentoring campaign simultaneously at three different locations - Ajao Estate Senior Grammar School, Isolo, Lagos; Wuse Comprehensive Secondary School, Abuja; and Kano Capital Girls Secondary School, Kano.

The event, held as part of the bank’s activities to mark the 2023 Global Money Week, championed by the Central Bank of Nigeria (CBN), sought to bring financial literacy and education to students in the mentored schools.

Delivering her lecture at the event, which centred around the theme of the Global Money Week, ‘Plan your Money, Plant your Future’, the Chief Executive Officer of 9PSB, Branka Mracajac, noted that financial literacy had become a necessity for everyone, particularly the youths in this digital age, to prepare them for making informed decisions, especially in matters relating to money, savings and investment, thereby

Negxy Concepts Celebrates 10 Years in Study-Abroad Industry Oluchi Chibuzor

One of Nigeria’s leading study-abroad agencies, Negxy Concepts, has pledged to continue to provide top-notch educational services through its partner universities as it celebrates its 10th anniversary.

The anniversary according to the firm, is a true reflection of its remarkable achievements in the study-abroad industry in Nigeria.

It recounted how it started in a cubicle in Ikeja and has grown to become a household name in the education sector, with branches in Lagos, Abuja, Port Harcourt, and Canada.

Speaking at the event in Lagos recently, Birmingham City University’s Regional Manager for Africa, Charles

Magee, commended Negxy for its hard work and dedication to human capacity development.

He said that the agency’s years of a great partnership with BCU was a true testament to the hard work and dedication of Negxy’s staff in making the study abroad dreams of over 5,000 Nigerians a reality.

Magee said, “These over 5,000 students (past and present) are spread across over 100 schools in Canada, the UK, the USA, Ireland, and Australia.”

Negxy’s CEO, Nelson Eban, and General Manager, Roseline Gudugba, revealed they visited the UK in 2022 to meet and celebrate with past and present study-abroad clients.

Uchechukwu Chidera, from Government Secondary School, Dutse emerged winner; Chiemeke Emmanuella, Government Secondary School, Kubwa, came second, while Egwu Favour Onyekachi, Government Secondary School, Kurudu came third.

The Executive Director of Regulatory and Corporate Affairs at 9mobile, Abdulrahman Ado, represented by the PR Lead of 9mobile, Chineze Amanfo, commended all the competition participants for their hard work and efforts and congratulated

He expressed satisfaction with the quality of the essays received, adding, “we believe that the competition has succeeded in encouraging young people to think critically about environmental issues. We hope that it has inspired them to take action to protect the planet. We also commend the commitment and support from the FCT Education Secretariat, Abuja.”

The Director of Science, Technology, and Vocational Education, Hajiya Ramatu Habu, who represented the director of science, technology, and innova-

“We hope this competition will inspire other students to explore this topic further and contribute to the ongoing conversation,” she said.

The winner of the competition, Ukwuoma, stated, “I want to thank 9mobile and the FCT Secretariat for giving us this opportunity. I think someday I will impact other people’s lives as well. Before this competition, I was not aware of the consequences of overpopulation as a global pandemic, but now I am better enlightened, and I would like to inform others as well.”

L-R: The Director, Science, Technology and Vocational Education, FCT Education Secretariat, Abuja, Hajiya Ramatu Habu; winner, Ukwuoma Uchechukwu Chidera, from Government Secondary School, Dutse; third place winner, Egwu Favour Onyekachi, from Government Secondary School, Kurudua; second place winner, Chiemeke Emmanuella, from Government Secondary School, Kubwa; PR Lead, 9mobile, Chineze Amanfo, and Director, Network Operations, 9mobile, Abdulmutallib Mohammed, at the grand finale of the 9mobile essay competition on the environment in Abuja... recently

Expert Urges Parents to Support Artistic Children The founder of the Greenhouse Art Empowerment Centre (GHAEC), Dr Theresa IyaseOdozi, has advised parents to support their children with a flair for art, as the skill could open up opportunities for them.

Speaking in Lagos at the 2023 Art Exhibition, organised

by Greensprings School, Anthony Campus, she expressed satisfaction with the students’ artworks, and complimented them for their creativity and the interpretation of their works.

Iyase-Odozi encouraged parents to continuously support their artistic children, as not doing so could hurt them for a long time.

“I am seeing these artworks for the first time, and I’m impressed because I can see uniqueness and beauty in each of the works. There are so many unique talents produced by Greensprings School, and my interaction with them shows that art is inbuilt into them. The students were able to interpret their

artworks, and the message behind the artworks made them beautiful. It takes the eye of an artist to do this. The children should be allowed to bloom because they have the potential to be great artists,” stated Iyase-Odozi.

She added, “With art, they can get to wherever they need to be. Artistic creativity will take them to places that money cannot. The art in these students will always propel them and, if not expressed, will be a lifelong pain for them. Thus,

the students who desire to be artists should continue to forge ahead with focus and practice, regardless of any obstacles in their career path.”

In line with the exhibition’s theme, ‘Expression’, some students incorporated traditional and modern designs in their artworks, with diverse mediums like acrylic paint, oil colour, watercolour, charcoal, and pastel. Other students exhibited photography portraying stories about Nigerian society and current happenings.

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WEDNESDAY, MARCH 29, 2023 ˾ T H I S D AY

BUSINESS/MONEYGUIDE

Haastrup: How Port Concession Saved Nigeria’s Economy N3.9trn Gilbert Ekwugbe The Chairman, Seaports Terminal Operators Association of Nigeria (STOAN), Vicky Haastrup has said that the federal government’s port concession programme has saved the country about $8.5 billion (N3.91 trillion) which was hitherto paid to foreign shipping lines as congestion surcharge.

The STOAN Chairman also said that members of the association, who are the concessionaires, are ready to inject more funds into the port once pending concession agreements are renewed.

Haastrup said this while addressing journalists after a courtesy visit to her by the new Country Managing Director of APM Terminals Nigeria, Frederik Klinke.

She said in addition to the huge savings to the economy, terminal operators have also made significant investments running into billions of dollars at the six major seaports across the country.

“Nigeria’s port concession programme has been a monu-

mental success. Many African countries send representatives here to understudy our port concession regime and how we were able to substantially increase investment and efficiency within a very short period of time. It shows the can-do spirit of Nigerians.

“The port concession programme reduced the waiting time of vessels coming into our ports from an average of 45 days before 2006 to less than three days at present.

It has helped in eliminating the notorious congestion surcharge hitherto imposed on our ports by major shipping lines under the aegis of the Europe-West Africa Trade Agreement EWATA. “The elimination of the port congestion surcharge has resulted in saving Nigeria’s trading community over US$500 million per annum.

If you multiply that by the 17 years of port concession, that amounts to a savings of US$8.5 billion to date. In naira terms, that is a savings of more than

N3.9 trillion to the Nigerian economy,” she said.

The STOAN Chairman said port concession has also led to the injection of private capital into port development; which has helped to free up government resources for other developmental purposes, eliminated port congestion and led to the modernisation of the country’s seaports.

Others benefits of port concession, according to her, include improved availability of cargo handling equipment, increased competition among terminal operators, improved welfare and training of port workers and the institution of a condition of service for dockworkers.

The Country Managing Director of APM Terminals Nigeria, Frederik Klinke, said his company has a long-term commitment to Nigeria.

He assured that APM Terminals will continue to set new standards for port operation in the country and support the Federal Government’s drive to diversify the economy through the promotion of non-oil export.

Stanbic IBTC Receives Commendation for Sustaining Support for Agribusinesses Sayed Farms Limited (SFL) has commended the Stanbic IBTC Bank for its sustained financial support to operators in the Nigerian agricultural sector.

The SFL, which is a producer and distributor of day-old-chicks and frozen poultry products across the country, said that the Stanbic IBTC Bank has tailor-made and innovative financing solutions that could spur farmers to achieve their business objectives.

It said that the bank’s agribusiness financing solutions are structured to support production, processing and logistics requirements across agricultural value chains.

A Director of SFL, Mr. Haissam Nawan, testified to how Stanbic IBTC Bank has aided the achievement of his business vision.

Nawan said: “We have witnessed massive expansions, starting from dealing with broiler production only to diving into other aspects of poultry production, including the sale of frozen meat. Stanbic IBTC played a pivotal role in this growth.

“What sets Stanbic IBTC Bank apart is how they hold your hand through the growth process with proper guidance and financial structure. Indeed, they are your trusted strategic partner for growth.”

Stanbic IBTC Bank offered credit facilities for agribusinesses that minimize risks, are versatile, and can be used for finance raw materials, vehicles and other logistic needs, and all forms of equipment.

The Head Commercial Clients Coverage at Stanbic IBTC Bank,

Mr. Babatunde Akindele, reiterated the determination of the bank to continue to support the growth and development of the Nigerian agricultural sector.

Babatunde said: “Agriculture is pivotal to national growth, and its value chain house the goldmine for consumption and exportation. We will continue to ensure expansion in the sector through valuable partnerships such as we currently have with Sayed Farms.”

The Head, Agribusiness Stanbic IBTC Bank, Mr. Wole Oshin, said that agribusinesses are critical for sustainable development and job creation in the country.

According to Oshin, accelerating an inclusive agricultural sector would enhance a vibrant economy with extensive enterprise development.

WIP Africa Unlocks Peace Garden’s Investment Leverage Offer Kayode Tokede Wealth Island Property Africa, has announced its plan to expand its exclusive private property offering to a wider audience for a limited time, starting with Peace Gardens in Ikotun, Lagos.

The Chief Executive Officer, Wealth Island Property, Tade Cash informed that one of their strategies going forward is to help more people attain economic freedom through their range of assets strategically

located in most South West cities of Nigeria.

“We believe that helping people to map their way into economic freedom will help us grow our database of loyal customers, and also deepen the social development project that we have embarked on since the company set out over twelve years ago,” he said.

Cash, whose company had completed several housing developments in major areas in Lagos, said that the Peace Garden offers a plan that sees

a portion of the project given at about a third of the market value to N7.5 million per plot.

He said, “This sort of offer is mostly shared when we are about embarking on major infrastructure upgrades on our properties, and it is exclusive to our inner cliques of loyal customers. We use that to help them leverage their financial position. Most of them eventually sell off when our upgrade is done, which means the value of the assets would have increased, and at times more that doubled.”

‘Nigeria’s Fintech Market Stands Out in Africa’

L-R: Legal Adviser, Seaport Terminal Operators Association of Nigeria (STOAN), Uzamot Boye; General Manager, Legal and Corporate Affairs, APM Terminals Nigeria, Chinenye Miriam Deinde; Country Managing Director, APM Terminals Nigeria, Frederik Klinke; Chairman, STOAN, Vicky Haastrup; Terminal Manager, APM Terminals Apapa, Steen Knudsen and the Executive Director Operations, ENL Consortium, Mark Walsh, when the APM Terminals Country Managing Director visited Haastrup

MARKET INDICATORS 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

Nume Ekeghe The Chief Executive Officer of Cellulant, Akshay Grover has stated that the Nigerian fintech market stands out in the continent on different counts.

During a media chat, Grover pointed out that Nigeria and Kenya are the top two markets in African fintech but insisted that Nigeria is ahead in terms of

market size, technology talents and market offerings.

He said: “There are very many lenses through which people look at a market. One lens is market size, and I would say that Nigeria is top of the line in this regard. Another lens is how many new fintech products are coming up in the market.

Here, I would say probably that the top two markets are

Nigeria and Kenya, Nigeria being ahead.

“The third lens could be the availability of technology talent in the market, here, I believe Nigeria stands out. So, when I think about different lenses, I think Nigeria is a big player in this space. What I would wish is that the macroeconomic environment in Nigeria would be sort of better.”

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).

35

T H I S D AY ˾WEDNESDAY, MARCH 29, 2023

MARKET NEWS

Stock Market Deprecates by N341bn Amid Investors Profit-taking Kayode Tokede The profit-taking continued to dominate the stock market of the Nigerian Exchange Limited (NGX) as the capitalisation down

by N341 billion amid sustained negative investors’ sentiment.

The NGX All Share Index (ASI) decreased by 626.14 basis points or 1.16 per cent to close at 53,124.63 basis points. Consequently, the market capitalisation

lost N341 billion to close at N28.940 trillion.

However, market breadth closed positive, with 16 gainers versus nine losers. PZ Cussons Nigeria recorded the highest price gain of 9.6 per cent to close at N11.400, per share.

International Energy Insurance followed with a gain 9.24 per cent to close at N1.30, while Multiverse Mining & Exploration rose 8.72 per cent to close

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

at N3.24, per share.

FTN Cocoa processors went up by 7.69 per cent to close at 28 kobo, while Regency Alliance Insurance appreciated by 6.90 per cent to close at 31 kobo, per share. On the other hand, Chams Holding Company led the losers’ chart by 8.00 per cent to close at 23 kobo, per share, per share.

UACN followed with a decline of 5.76 per cent each to close at

N9.00, while Dangote Cement lost 4.17 per cent to close at N276.00, per share.

Fidson Healthcare lost 2.95 per cent to close at N9.55, while Prestige Assurance shed 2.44 per cent to close at 40 kobo, per share.

The total volume traded rose by 101.08 per cent to 202.850 million units, valued at N2.053 billion, and exchanged in 3,071 deals.

S E C U R I T I E S

T R A D E D

QUANTITY TRADED

VALUE TRADED ( N )

MAIN BOARD

Transactions in the shares of Transnational Corporation (Transcorp) topped the activity chart with 61.493 million shares valued at N85.307 million. Fidelity Bank followed with 26.957 million shares worth N139.045 million, while Custodian Investment traded 19.969 million shares valued at N121.803 million.

Sterling Bank traded

AS O F

18.652 million shares valued at N29.371 million, while Guaranty Trust Holding Company (GTCO) transacted 11.737 million shares worth N291.138 million. .On market outlook, GTI Securities Limited said “investors continue to be conservative and sway towards safe stocks, as the stock market awaits the dividend announcement by quoted companies.”

2 9 / 0 3 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

36

WEDNESDAY, MARCH 29, 2023 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

South Africa Weighs Options over ICC’s Putin Arrest Warrant With an International Criminal Court arrest warrant out for Vladimir Putin, South Africa is weighing what to do if the Russian president accepts an earlier invitation to attend an August summit in the country.

The court in The Hague issued an arrest warrant for the Russian leader on March 17 for war crimes involving the deportation of Ukrainian children to Russia.

South Africa is a signatory to the ICC’s Rome Statute that obligates countries to execute the court’s international arrest warrants.

But Pretoria is also a close ally with Moscow and has refrained from criticising Russia’s 2022 invasion of Ukraine – going as far as holding bilateral talks with Russian Foreign Minister Sergey Lavrov earlier this year and hosting Russian warships in February for joint military exercises.

In an interview, Naledi Pandor, South Africa’s minister for international relations, told local radio station SAfm that the government was awaiting a refreshed legal opinion on the matter and would then consider its options.

“It is a difficult situation, but, you know, I think that the cabinet needs to discuss this,” she said. “Once I have the opinion, I will take it to cabinet, so our actions will be guided by the overall views of government.” However, the minister demurred on the possibility of withdrawing Putin’s invitation to the summit of the group of emerging economic powers known as BRICS - Brazil, Russia, India, China, and South Africa. South Africa is due to host a summit of the bloc’s leaders this August.

Russia Fires Supersonic Anti-ship Missile at Mock Target in Sea of Japan The Russian defence ministry says Russia’s navy fired supersonic anti-ship missiles at a mock target in the Sea of Japan on Tuesday.

“In the waters of the Sea of Japan, missile ships of the Pacific Fleet fired Moskit cruise missiles at a mock enemy sea target,” it said in a statement on its Telegram account.

“The target, located at a distance of about 100km, was successfully hit by a direct hit from two Moskit cruise missiles.”

The P-270 Moskit missile, which has the NATO reporting name or SS-N-22 Sunburn, is a medium-range supersonic cruise missile of Soviet origin, capable of destroying a ship within a range of up to 120km.

Japan’s foreign minister Yoshimasa Hayashi said Tokyo would stay vigilant against Moscow’s military operations while adding that no damage had been reported after the missile launches.

“As Russia’s invasion of Ukraine continues, Russian forces are also becoming more active in the Far East, including Japan’s vicinities,” Hayashi told a regular press conference.

Poland, Romania Ask EU for Mechanism to Trace Ukraine Grain Exports The Polish and Romanian prime ministers say Romania and Poland are in talks with the European Commission over export tracing mechanisms for Ukrainian grains to ensure a flood of cheap imports does not hurt local farmers.

Ukraine, one of the world’s largest grain exporters, has seen its Black Sea ports blocked since Russia invaded more than a year ago and has been forced to find alternative shipping routes through European Union states Poland and Romania.

But logistical bottlenecks mean that large quantities of Ukrainian grains, which are cheaper than those produced in the European Union, have ended up in central European states, hurting prices and sales of local farmers.

Romanian and Polish Prime Ministers Nicolae Ciuca and Mateusz Morawiecki told a business conference in Bucharest their governments were working on solutions with the EU. Morawiecki said they “are fighting together for this grain to leave our countries, for the European Union to effectively help us in the implementation of trade policy, which is in the best strategic interest of Ukraine and Central

been arrested, and the people are being tortured by the military,” said Bo Bo Oo, a former party lawmaker.

Suu Kyi, 77, is serving prison sentences totalling 33 years after being convicted in a series of politically tainted prosecutions brought by the military. Her supporters say the charges were contrived to keep her from actively taking part in politics.

The party won a landslide victory in the November 2020 general election, but less than three months later, the army kept her and all the elected lawmakers from taking their seats in Parliament, and top members of her government and party were detained.

French Government Rejects Union Demand to Rethink Pension Bill

Europe, but also in the best economic interest of Poland and Romania.”

VP Harris Pledges New Era of USAfrica Partnership US Vice-President Kamala Harris pledged a new era of partnership between the US and Africa, touting women’s empowerment, developing the digital economy and supporting democracy to 8,000 young Ghanaians who gathered under the punishing midday sun to hear her speak in Accra.

Harris, the first Black female US vicepresident, took the stage under the arch of Black Star gate, a sweeping seaside monument to Ghana’s 1957 independence from British colonial rule.

“We are all in because there are longstanding ties between our people,” Harris said. “We have an intertwined history, some of which is painful and some of which is prideful and all of which we must acknowledge, teach and never forget.”

Her schedule Tuesday includes a visit to Cape Coast Castle, a place where enslaved Africans were once crowded onto overloaded, unsanitary ships headed on the long, dangerous ocean journey to the Americas.

But Harris stressed that her three-nation visit is forward-looking, and on Monday pledged $139 million in US assistance to West Africa, most of which will support conflict prevention in the Sahel region, where Islamist extremists have expanded their footprint.

At Least 39 Dead at Mexico Migrant Facility At least 39 people are dead after a fire broke out before dawn Tuesday at a Mexican immigration detention facility along the US border.

The fire broke out at the centre run by the National Migration Institute in Ciudad Juarez, just across from El Paso, Texas.

Photos from the scene showed the facility’s parking lot lined with several bodies covered with blankets.

Officials at the institute say 29 people were injured in the blaze. At least 68 men from Central and South America were housed at the Ciudad Juarez facility, a major crossing area for migrants or asylum seekers wishing to enter the United States.

The cause of the fire is under investigation.

Amnesty International: Rights Violations Worsening in West Africa West Africa’s Sahel region saw mounting violence and a rollback in free expression last year, rights group Amnesty International says in its latest annual report, released Tuesday.

Amnesty International says that for Mali, Burkina Faso, and Niger — 2022 was an especially grim year. The countries saw an

uptick in civilian killings compared to 2021 as they battled an ongoing jihadi insurgency in the region.

“We are talking about 9,000 civilians killed due to the conflict — an increase of 54 per cent compared to 2021,” said Ousmane Diallo, Sahel researcher for Amnesty’s Dakar office.

He says governments in these three countries are increasingly disregarding human rights. One big thing that’s changed in the region over 2022: reports of the growing presence in some places of the Wagner Group, a private Russian mercenary company.

Mali and Burkina Faso have also seen coup d’états over the past two years.

Amnesty also criticises forced deportations under agreements aimed to control migration — including Algeria’s expulsion of thousands of sub-Saharan African migrants to northern Niger in recent years. Reports say many are dumped into the desert with little food or water. Algeria denies such accusations, calling them “malicious.”

Portugal: 2 Dead, Several Wounded in Muslim Centre Stabbing Portuguese police shot and injured a man suspected of stabbing two women to death Tuesday at an Ismaili Muslim centre in Lisbon, authorities said.

The women were Portuguese staff members at the centre, Ismaili community leader Narzim Ahmad told Portuguese TV channel S.I.C. Police were called to the centre late Tuesday morning, where they encountered a suspect “armed with a large knife,” a police statement said.

Police ordered him to surrender, but he advanced toward them and was “neutralised,” the statement said. The suspect was taken to a Lisbon hospital, where he was in police custody.

According to the statement, several others were wounded.

Prime Minister António Costa said police shot the suspect and told reporters the attack was “a criminal act.”

Suu Kyi’s Party Faces Dissolution in Military-ruled Myanmar The political party led by Myanmar’s ousted leader Aung San Suu Kyi is expected to face automatic dissolution by the militaryappointed election commission at midnight Tuesday because it declined to register for a planned general election it denounced as a sham.

Critics say the polls will be neither free nor fair in a country ruled by the military that has shut down free media and arrested most of the leaders of Suu Kyi’s National League for Democracy.

“We absolutely do not accept that an election will be held at a time when many political leaders and political activists have

On Tuesday, President Emmanuel Macron’s government rejected a new demand by unions to rethink a deeply unpopular pension bill, infuriating labour leaders who said the government must find a way out of the crisis.

Meanwhile, as protesters across France staged generally peaceful marches on a tenth nationwide day of strikes and protests, clashes broke out in some areas.

In the western city of Nantes, the boarded-up front of a BNP Paribas bank branch was set on fire. Also, protesters blocked the Rennes ring road in western France and set an abandoned car on fire.

In the Normandy city of Rouen, authorities confirmed clashes had occurred.

“We have proposed a way out ... and it’s intolerable that we are being stonewalled again,” the head of the CFDT union, Laurent Berger, told reporters at the start of a rally in Paris.

He and other union leaders again urged the government to suspend the bill, this time suggesting the use of outside mediators, as the government and unions remain far apart.

But hours later, government spokesman Oliver Veran rejected the idea, saying the cabinet was willing to discuss other policy changes but not review the pension bill.

Millions of people have been demonstrating and joining strike action since mid-January to show their opposition to Macron’s plans to make most of them work an extra two years to 64.

North Korea’s Kim Jong-Un Demands More Weapons-Grade Nuclear Materials North Korean leader Kim Jong-Un wants his country to increase the production of weapons-grade nuclear materials as the North conducts more and more tests of its military arsenal.

According to a report by the official Korean Central News Agency, Kim made the call Monday during a meeting with scientists from the North’s nuclear weapons institute. He urged the scientists to increase the production of material for nuclear weapons to “exponentially” expand the country’s nuclear arsenal.

The KCNA report was accompanied by photos showing Kim inspecting various warheads, including a row of snub-nosed warheads dubbed “Hwasan-31,” which means volcano in Korean. One of the photos showed diagrams on the wall in the background, which showed how the warheads could be mounted on different types of missiles.

North Korea has conducted a series of short-range missile launches recently as South Korea and US forces conducted a joint military exercise that Pyongyang views as preparation for an invasion of the North. KCNA also reported Monday that the military had successfully tested a new underwater attack drone, plus tests of ballistic missiles that carried mock nuclear warheads.

37

WEDNESDAY, ͺ΁˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

PULL OUT CEREMONY IN OGUN STATE...

L - R: Ogun State Deputy Governor, Noimot Salako-Oyedele; retiring Head of Service, Dr Nafiu Aigoro; Governor Dapo Abiodun; wife of the retiring Head of Service, Nurat Aigoro and the Secretary to the State Government, Tokunbo Talabi at the pull-out ceremony for the Head of Service and six permanent secretaries in the State Civil Service held at the Arcade Ground, Governor's Office, Oke-Mosan Abeokuta... yesterday

Election Petition: PENGASSAN Vows to Hold Judiciary Accountable Gives conditions to back withdrawal of petrol subsidy Onyebuchi Ezigbo in Abuja The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has said it would work collaboratively with other labour unions and civil society groups in the country to ensure that the various tribunals deliver justice on the election petitions to the satisfaction of all.

Also, against the background of renewed move by the federal government to remove petrol subsidy, the oil workers’ union said its members would only accept the policy reform if government restores local refining capacity and was able to build adequate trust and commit to the implementation of palliatives to cushion effect of the policy.

Speaking at the meeting of the National Executive Council (NEC) of PENGASSAN, its President, Festus Osifo, said the union was disappointed with the failure of the Independent National Electoral Commission (INEC) to live up to the expectations of Nigerians.

He said despite the billions of taxpayers’ money budgeted for the conduct of the general election, INEC failed in meeting the expectations of Nigerians.

Osifoh, who is also the President of the Trade Union Congress, said one of the major flaws of the 2023 general election was the failure to use the BVAS in uploading results into IRev. "Nigerians hailed the introduction

of the Bimodal Voters Accreditation System (BVAS) and the Result Viewing Portal (IReV) as the game changer.

“Despite all the sacrifices made by ordinary Nigerians to go out and wait in long queues to obtain their PVCs, strenuously cast their votes and the billions of taxpayers’ money budgeted for the conduct of this election, INEC failed in meeting the expectations of Nigerians.

"This failure on the part of INEC to upload results from polling units to IReV portal, climaxed an election that was challenged by late arrival of INEC personnel and materials in some areas, by pass of BVAS in some cases, suppression of results, outright voters’ intimidation and coercion in many instances.”

“Despite the shortcomings, we hereby appeal to all those aggrieved by the election to follow the provision of the law in seeking redress.

"The various tribunals must be charged to deliver justice to the satisfaction of all as the last hope of the teeming masses of the country," he said On the government's proposal to remove petrol subsidy, Usifoh said the union had already deliberated on the issue and was of the believe that the downstream sector of the oil and gas industry would actually grow much more if that sector is deregulated.

He said the union reasoned that continuing with the fraudulent subsidy regime was hurting the economy adversely.

However, Usifoh said TUC's position on subsidy removal was also that there should be some basic things that government must fix, such as the rehabilitation of the Port Harcourt refinery.

Speaking on plan to remove petrol

subsidy, Usifoh said: "If you look at the subsidy, at times we tend to be trying to hold on to something why we are losing in some other areas.

“If you look at the cost of living, it has gone up drastically by over three to four times in the last two

The Peoples Democratic Party’s (PDP) Borno Central Senatorial candidate in the last election, Hon. Mohammed Kumalia has petitioned the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu over alleged tampering of electoral materials in the custody of Borno State office of the electoral body a month after the conduct of the Presidential/National Assembly elections.

Kumaila in the petition he personally signed, noted that: “Based on the outcome of the elections, I have filed a petition before the Election Petitions Tribunal sitting in Maiduguri. We obtained a court

order to inspect materials used for the elections which included the ballot boxes used and unused ballot papers as well as obtain Certified True Copies of the result and collation sheets among others.

“I wish to draw your attention to the commission of electoral offence by some Ad – Hoc staff of the Borno State INEC in collaboration with the electoral officer in charge of Mafa Local Government, who were caught thumb printing and stuffing ballot boxes within the premises of the Maiduguri INEC Headquarters on Tuesday 22nd March, 2023, almost a month after the Presidential and National Assembly elections that was held on 25th February, 2023, in order to tamper and distort evidence to

from the crude oil sales and that money will go into to CBN, here it will shore up our reserves and it will support a lot of other imports and the pressure on dollars will be reduced and so when this happens, our naira will appreciate," he said.

FG Reiterates Commitment to Curbing Challenges Faced During Passport Application Michael Olugbode in Abuja The federal government has restated its commitment to ameliorate the challenges encountered by Nigerians during the process of applying for and obtaining the Nigerian passport by improving service delivery and streamlining of its operations.

Minister of Interior, Ogbeni Rauf Aregbesola, gave the commitment yesterday, while inaugurating the Ilesa Passport Front Office and Production Centre, of the Nigeria Immigration Service in Ilesa, Osun State.

Aregbesola, while noting that the surge in the number of applications necessitated the establishment of more passport front offices across the country, insisted that this was borne out of the determination of the President Muhammadu Buhari’s administration to further make the process seamless.

The minister said: "In recent

years, there has been an upsurge in passport demands by Nigerians. The first factor in this upsurge was the COVID-19 pandemic that affected our production schedule, due to restrictions on human movement.

This created a backlog that we were trying to clear when an unprecedented number of Nigerians now decided to travel outside the country and applied for passport, thereby compounding the backlog challenge.

"Then of course, the panic buying syndrome kicked in. Many people who had no immediate need of passport then started applying, creating a deluge of applications.

Thankfully, that is behind us now.

The backlogs have all been cleared and we are producing on schedule in all our centres.

"Fresh application will take six weeks after biometric data capture, while renewal requires just three weeks. To respond to the challenge,

Borno PDP Senatorial Candidate Petitions INEC Over Alleged Tampering of Electoral Materials Michael Olugbode in Abuja

to three years. If you look at the reason why the cost of living has actually moved to where it is today, it is actually because of the fact that our exchange rate has plummeted.

"If we address this, the Nigerian government will earn more money

be presented before the Election Petitions Tribunal.”

He further alleged: “While our team of lawyers were undertaking the inspection of materials on March 22, 2023, in the premises of the INEC Headquarters, our inspectors discovered some INEC Ad Hoc Staff within the same premises, sorting out and rearranging and counting ballot papers and stuffing them in different Ballot Boxes in respect of Mafa, Ngala, Kala Balge and Dikwa Local Governments.

“Our inspectors immediately raised alarm and accordingly reported the incident to the Borno State Resident Electoral Commissioner (REC). They drew the attention of the REC that the actions of the Ad-Hoc staff amount to

tampering with evidence.

“The REC assured our team that the Ad Hoc Staff were only rearranging the documents that were dumped on them by the respective Local Government Electoral Officers who brought the materials from the local governments. Although we were not satisfied with the explanation, we gave them the benefit of the doubt and continued with the inspection.

“To our surprise, the next day, Thursday 23rd March, 2023, our inspectors this time caught red handed some Ad-Hoc staff actually thumb printing ballot papers and stuffing them into Ballot Boxes for Mafa Local Government right inside the premises of the INEC office in Maiduguri.

we increased our production capacity.

In 2021, we produced one million booklets. Last year, we increased production to 1.8 million, nearly doubling our efforts. We shall keep working at it to ensure that we provide for as many Nigerians that are desirous of the passport.”

Speaking further, he said: "The Passport Front Office we are commissioning today is one of the ways we are responding to increased demand for passport, especially to reduce the waiting time for biometric data capture.

“We have opened this front office in Alimosho, Katsina, Zaria, Daura and in several Nigerian missions abroad in the United States, Canada and the United Kingdom, where the enhanced passport is being rolled out.”

He explained that: “This front desk is not an express centre. It is also not a full-fledged passport office like the ones in Osogbo, Ibadan or Akure. However, a front office is where application will be made and biometric data of the applicant will be collected. It is a non-judgmental centre, meaning that no decision will be made here, but the application and biometric data of the applicants will be collected and forwarded to the NIS for processing and issuing.

"We need as many centres as possible to accommodate the huge number of those applying every day, day and night, on our online platform, to reduce the waiting time before data capture to the barest minimum. Our target is to reduce the waiting period for biometric data capture to not more than one week, after application."

He noted that since his inception at the Ministry, the Nigeria Immigration Service (NIS) has been repositioned especially in the engendering of a passport production system and process that is in compliance with global best practices in technology.

He also urged new applicants

for the Nigerian passport to apply early so as not to fall in the hands of scammers and other opportunities.

He lamented that: “One of the burdens we bear every day is of desperate travellers who needed a passport today to be able to travel tomorrow,” insisting that, ‘except for medical emergencies and overriding national interest, there is hardly any emergency in travelling. This is because travelling, whether for studies, business or pleasure, requires planning and it takes time.”

He urged applicants for the Nigerian passport therefore to apply early enough before their travel date to avoid cutting corners and falling into the hands of scammers and other opportunists, adding that: “It is important also that they apply by themselves at the Nigeria Immigration Service portal and not through touts and unscrupulous officials, which often bring heartaches.”

He said: “The reforms we have introduced to passport administration are meant to ease operation and confer integrity on the Nigerian passport. We are also linking passport with other identity platforms, in line with the national policy of creating a central identity database, for ease of national administration and national security.

“This is why NIN is linked with passport application. It is important therefore that applicants’ data, including order of name and date of birth sync with their record with NIN. Any discrepancy will stall their application for passport, until they are able to resolve it."

Speaking at the event, Osun State Governor, Senator Ademola Adeleke commended the Minister for being a worthy ambassador of the state, reassuring him of the state's support in all ramifications.

Adeleke who affirmed his resolve as a progressive, promised to complete all projects of the former Governor abandoned by the immediate past adminstration.

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PRESIDENT BUHARI RECEIVES SEN UZOR KALU...

President Muhammadu Buhari receives in audience Senate Chief Whip, Senator Orji Uzor Kalu at the State House Abuja... yesterday

PHOTO: SUNDAY AGHAEZE

Buhari, Gbajabiamila, Wase, Sanwo-Olu, Bello, Others Rejoice with Tinubu at 71 Deji Elumoye, Udora Orizu, Michael Olugbode in Abuja and Ibrahim Oyewale in Lokoja President Muhammadu Buhari, Speaker of the House of Representatives, Hon. Femi Gbajabiamila, his deputy, Hon. Idris Wase, the Lagos State Governor, Mr. Babajide Sanwo-Olu and his Kogi State counterpart, Yahaya Bello, were among the prominent Nigerians, who celebrated and rejoiced with the President-elect, Bola Tinubu, on his 71st birthday today.

The President, in a release by his Media Adviser, Femi Adesina, joined members of the President-elect’s family, especially his wife, Senator Oluremi Tinubu, business partners and political associates in celebrating the remarkable age, heralded with many years of experience and achievements in the private and public sectors, which prepared him for the historic win on February

25, 2023.

Buhari believed Tinubu’s warmth, friendliness and generosity has set the pace for a network of friends, home and abroad, that would shape his presidency with requisite expertise to guide the economy, and consolidate on the investments of past leaders, particularly, in peoplefirst development and infrastructure.

“As the President-Elect prepares to take over mantle of leadership at 71, the President affirmed that his political pedigree from the 90’s, active role in party politics, being elected Senator and later Governor of Lagos State, and diligent involvement in structure of leadership at the Executive and Legislative levels for many years, will serve as asset for good and effective governance.

President Buhari prayed for the wellbeing of Asiwaju and his family,” the statement stated.

On his part, Gbajabiamila said, Tinubu has demonstrated democratic

credentials over the years and ought to be celebrated by well-meaning Nigerians, describing him a dogged and determined fighter for a just society and a man of the people.

He said he was elated that Tinubu has finally fulfilled his ambition of becoming Nigeria's president, and his victory at the presidential and National Assembly elections held on February 25 was a well-deserved birthday gift.

Gbajabiamila said as one of those, who have been under Tinubu’s school of politics and mentoring, he was not surprised that Nigeria was lucky to have him at this time.

"I celebrate our president-elect, Asiwaju Bola Ahmed Tinubu, on his 71st birthday. Tinubu has proved over the years to be an uncommon democrat, who always works assiduously for Nigeria to be great.

We all thank God for the life of the president-elect, and we pray that He continues to grant him good

health to achieve his desire for a better Nigeria.

“The story of Asiwaju is one that every Nigerian, young and old, should study carefully and learn from. Here is a man that worked against all odds to emerge as the presidential candidate of the APC. Even more daunting was his emergence as President-elect elect,” he said.

Wase who in a congratulatory message, described Tinubu as a selfless and patriotic leader who has fought tirelessly to instill good governance and sustain democracy in the country, enjoined Nigerians irrespective of religious inclination and party affiliation to pray for the president-elect and support his government to move the nation forward.

His words: "As president- elect, I'm confident that you will provide the needed leadership to improve our economy, create jobs, improve

Ojougboh: Omo-Agege Behind My Expulsion from APC Sunday Aborisade in Abuja A former Executive Director of Projects at the Niger Delta Development Commission(NDDC), Dr. Cairo Ojougboh, has alleged that the Deputy President of the Senate, Ovie Omo-Agege, was behind his purported expulsion from the All Progressives Congress (APC).

Ojougboh, in a statement by his Personal Assistant on Media, Mr Emmanuel Ojeme, in Abuja, yesterday, claimed that Omo-Agege, the Candidate of the APC in the just concluded Delta State governorship election, was "looking for who to

blame for his abysmal performances at the poll."

Part of the statement read: "Just like every other person, I saw the letter of my purported 'Kangaroo Expulsion' from the APC on social media. I wasn't surprised because that is Omo-Agege's way.

"Since Omo-Agege lost his governorship bid, he has been running from pillar to post in frustration, looking for those to blame for his abysmal performance. Ordinarily, his social media expulsion doesn't really need any reply, because it is dead on arrival. Omo-Agege hijacked the party, and personally

handpicked all executives at all levels in the state.

"His intention is to cow all APC members in the state and make them his stooges, but very angry that people like my humble self stand up to him and always say things the way they are. And at my age, I can't change just to please the god of Orogun.

"Let me also use this opportunity to draw the attention of Nigerians to a recent news report by a militant

Adeleke to Aregbesola: Nobody A pro-democracy and good advocacy group has condemned the call by the Labour Can ChaseYou Away from Osun governance Party (LP) for a review of the results

Osun State Governor, Senator Ademola Adeleke, yesterday, assured the Minister of Interiorand former governor of the state, Ogbeni Rauf Aregbesola, that he would be protected whenever he comes to the state, and would soon issue an Executive Order to that effect.

Speaking at the commissioning of Ilesa Passport Production Centre and Passport Front at Nigerian Immigration Service, Ilesa East Local Government Area of the state, he noted that he was meeting

with Aregbesola face-to-face for the first time, adding that the former governor has done so much for the state.

“No matter the party you are, a progressive is a progressive. If you are doing what the people want, you are a progressive. When Aregbesola was the governor, he loved Osun, he loved his people.

All the projects he did for his people were abandoned and I promised during the election campaign, that I will complete them. I have started doing that,” he said.

days of the military junta,” he said.

Also, congratulating him, Bello, in a statement described Tinubu as a man, who is renowned for uncommon wisdom, and exemplary leadership, and over the decades has made extraordinary memories and woven his own unique story into the Nigerian narrative.

“We salute you on this auspicious day for the substantial contributions you have made towards building our nation even as we confess our great excitement that with you as our president-elect, we can now look forward to your promise of Renewed Hope and Future Assured.

We are optimistic that your tenure will usher in new vistas of economic growth, security and overall good governance, for our youth and all Nigerians,” he said.

Meanwhile, a group of media professionals under the auspice of Kashim Shettima Media Support Group (KSMSG), has appealed to all Nigerians especially, all aggrieved parties to eschew bitterness and support Tinubu to ensure he hits the ground running.

In a congratulatory message on Tinubu’s 71st birthday, the group urged Nigerians to ensure that the President and Vice President-elect chat a way forward for the country.

“Indeed, it is inspiring to be among the teeming well-wishers from across the globe to celebrate Asiwaju Bola Ahmed Tinubu as he attains the admirable age of 71, even as he prepares to take over the mantle of leadership as Nigeria’s 16th President, though at a time Nigeria and the global economy is faced with new challenges.

Enugu Guber: Call for Review is Call for Anarchy, Group Warns Alex Enumah in Abuja

Yinka Kolawole in Osogbo

group, Delta Strike Force, demanding the withdrawal of the Pipelines Surveillance Contract, which should come to them from Omo-Agege.

The militant group has threatened to blow up the Oturogu Gas Plant, if the federal government continues to ignore their demands."

Ojougboh, however, called on his supporters to be calm, go about their normal businesses and ignore the frustration of Omo-Agege over his woeful performance at the polls.

security, education, reform governance and fight corruption. I join other well-meaning Nigerians and millions of people across the globe to congratulate our national leader and President-elect, his Excellency, Bola Ahmed Tinubu on his 71st birthday anniversary.”

The Lagos State governor described Tinubu as a “visionary, consistent, loyal and enigmatic master strategist” whose democratic credentials are scholarly materials for study in political economy.

In a congratulatory message by his Chief Press Secretary, Mr. Gboyega Akosile, Sanwo-Olu said Nigeria was blessed to have Tinubu as her next democratically elected president from May 29, given his intellect, development-focused and detribalised disposition towards governance.

He added that not many leaders in contemporary Nigeria were as detribalised as Tinubu, saying his heart accommodates every section of the country, stressing that his large heart, accommodating and listening nature endeared him to millions of Nigerians, who filed out to vote for him in the February 25 presidential poll.

“Asiwaju Tinubu has donated the greater part of his adult life for service to humanity, Lagos State and Nigeria. His many contributions to democracy and good governance have helped the political and democratic trajectory of Nigeria since 1999. It is also on record that he stood firmly on the side of the Nigerian people, even at the risk of losing his life and personal belongings during the dark

of the March 18, governorship election in Enugu State.

The group, Enugu Good Governance Group, (E-3G), which described the call as a call for anarchy, also urged the Independent National Electoral Commission INEC) not to succumb to any unnecessary pressure from anyone.

INEC had on March 22, announced candidate of the Peoples Democratic Party (PDP), Peter Mbah, winner of the guber poll having scored the highest number of votes cast at the election.

INEC State Returning Officer and Vice-Chancellor of the Michael Okpara University of Agriculture, Umudike, Abia, Madu Iwe, announced that Mbah polled 160,895 votes to defeat his closest rival, Chijioke Edeoga of the Labour Party, who scored 157,552 votes.

INEC had announced the results four days after the election owing to controversies surrounding results from Nkanu East and Nsukka Council Areas.

The issues involving the two area councils were resolved by a review panel at INEC headquarters in Abuja, which had upheld that the electoral processes that produced the result of the Nsukka Council Area but had to adjust the votes of the Nkanu East Council Area.

However, dissatisfied the Enugu

State chapter of the Labour Party and its governorship candidate, Chijioke Edeoga, petitioned INEC, and asked that the March 18 governorship election be declared inconclusive.

Besides, LP and Edeoga called for the cancellation of votes in Nkanu East local government area as well as the withholding of the issuance of Certificate of Return to any candidate until issues enumerated in their petition are resolved.

In his reaction, the National Coordinator of the pro-democracy group, Odinaka Ikechukwu, observed that INEC had already reviewed results in areas where there had been controversies before declaring a winner, adding that doing so again tantamount to doing the job of a petition tribunal.

"Therefore, we see the latest calls by the Labour Party not only an attempt to convert the INEC to an Election Petition Tribunal, but also a call for anarchy; and we condemn it in totality.

"All political actors, including the Enugu Labour Party and its governorship candidate, Chijioke Edeoga, must understand that election is a process guided by timelines and various constitutional powers vested in several institutions to ensure the sustenance of our democracy. Mounting pressure on one institution to overreach itself will never go well for the nation’s democracy", he said.

The group further argued that despite reported issues, the Enugu guber was comparatively and substantially free, fair, and credible.

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LABOUR MINISTRY'S SCORECARD...

L-R: Minister of Labour and Employment , Senator Chris Ngige ; Minister of State for Labour and Employment , Festus Keyamo, Permanent Secretary of the Ministry, Ms Daju Kachollom and SSA, to the PHOTO: GODWIN OMOIGUI President on Job Creation, Mrs Tilda Mmegwa at the Press briefing on the achievement of the Ministry in the Buhari administration at the Presidential villa, Abuja...yesterday

EFCC Kicks as Yahaya Bello Asks Court to Vacate Forfeiture Order on 14 Properties, N400m Kingsley Nwezeh in Abuja and Wale Igbintade in Lagos The Economic and Financial Crimes Commission (EFCC) yesterday urged Justice Nicholas Oweibo of the Federal High Court sitting in Ikoyi, Lagos, to dismiss the application by Kogi State Governor, Yahaya Bello, seeking to vacate the forfeiture order in respect of 14 properties and the sum of N400 million.

Bello had earlier yesterday asked the court in Lagos to vacate the interim order seizing 14 of his properties in Lagos and Abuja, stressing that there was a subsisting order of court restraining the EFCC from having anything to do with Kogi State government.

The governor in an application filed by his lawyer, Abdulwahab Mohammed, argued that the EFCC did not disclose material facts before the order was granted.

Justice Oweibo had on February 22, made an interim forfeiture order following an ex parte motion seizing 14 properties and firms in Lagos, Abuja, and the United Arab Emirates linked to the Kogi State governor.

When the matter came up yesterday, lawyer to Kogi state governor, told the court that he had an application dated March 9, 2023, seeking to vacate the order of the court made on February 22, adding that the EFCC did not disclose material facts before the court, when the order of interim forfeiture of his properties was granted.

“We have an application subject to your lordship’s convenience. We are ready to move the application.

It was filed on March 9, 2023.

The application is seeking your indulgence to vacate the order of the court made on the 22nd of February, 2023,” he said.

He argued that most of the properties sought to be forfeited were acquired by Bello before he became the governor of the state and that the commission lacked the power to proceed against the governor as he enjoys immunity under the constitution.

“By virtue of the position of the applicant (Kogi State Governor), you cannot proceed against him under any law, according to Section 308 of the Nigerian Constitution.

“If you want to prosecute or forfeit his properties, you have to wait till he no longer enjoys those benefits of a governor,” he argued.

He, therefore, urged the court to grant his client’s prayers and vacate the order Moving the application, Mohammed, told the court that about third quarter of 2021, EFCC approached the court to freeze Kogi State Salary Bailout Account in Sterling Bank containing about N20 billion.

He stated that when Kogi State government approached Sterling Bank, the bank denied that such account existed.

He further submitted that the State government challenged the freezing order made by Justice Tijjani Ringim, but EFCC hurriedly withdrew the matter, and it was struck out by the court.

He submitted that Kogi State Government subsequently approached the State high court, presided over by the present Chief Judge, Justice Josiah Majebi, who granted an order restraining the EFCC from

having anything to do with Kogi State until the substantive matter was determined.

He argued that the order of the Kogi State High Court restraining EFCC from taking any step against Kogi State Government was still subsisting, adding that by virtue of Section 308 of the 1999 Constitution a state governor enjoys immunity.

He stated that the EFCC in flagrant disregard of the said Order of the Kogi State High Court and her pending appeal at the Court of Appeal Abuja Judicial Division, had arrested one Ali Bello, the Nephew of the Applicant herein, who is an associate of the Kogi

The Comptroller in charge of the Nigeria Customs Service (NCS) Area 2 Command, Onne, Rivers State, Baba Imam has said the Command generated N54,992,123,687.15 revenue in the last three months.

The Customs Area Comptroller, disclosed this yesterday, while addressing journalists on the performance of the NCS at the Area 2 Command, Onne.

Imam said within the past few weeks, there had been harvest of seizures justifying the command's committed resolve to facilitate only legitimate trade in law with the provision of extant laws.

According to Imam, the command was given a target of N336 billion

as revenue target for year 2023, adding that, so far, the N54.992 billion already generated, translated to 16.3 percent of the target.

He said with the amounted generated between January till date, the command had made an increase in revenue of N1,132,925,556.82 compared to what it generated within the time under review in 2022.

"In revenue generation, the command was given a target of N336 billion as revenue target for the year, 2023. As at today, the command has generated a total revenue of N54,992,123,687.15, which translate to 16.3 percent of the target.

"When compared to the same period last year (2022), the command had an increase in revenue of N1,132,925,556.82. This figure

EFCC counsel Oyedepo relied on depositions in the 12-paragraph counter-affidavit and a written address dated 28 March, 2023, stating that the applicant failed to reply to the counter-affidavit made by the prosecution.

“In Usman against Garke, it was reported in 2003, LPLR 3431, Supreme Court, and our submission is that failure to reply to the counter-affidavit has a single legal consequence that the respondents are agreeing to the application. We urge your lordship to hold that the failure to respond is deemed admitted.

Continues online

PSC Appoints AIG Egbetokun DIG, Promotes Mba, Umar, Akinyosola, 21 CPs to Rank of AIG 33 DCPs also promoted CPs Kingsley Nwezeh in Abuja The Police Service Commission (PSC), yesterday, approved the promotion of AIG AdeoluEgbetokun, to the rank of Deputy Inspector General of Police (DIG). He would be representing the South-west geopolitical zone of the country.

DIG Egbetokun will be replacing DIG Johnson Babatunde Kokumo, who retired on March 15.

A statement last night by the spokesman of the commission, Ikechukwu Ani, said the commission also approved the promotion

of 24 Commissioners of Police to the next rank of Assistant Inspectors General of Police and 33 Deputy Commissioners of Police (DCPs) to substantive Commissioners of Police (CP).

The appointment and promotions were some of the highlights of the 19th Plenary Meeting of the commission, which held in Abuja on Tuesday, March 28, 2023 and presided over by commission's acting chairman, Justice Clara Ogunbiyi (rtd).

The commission also approved the promotion of 37 Assistant

Customs Onne Port Generated N54.9bn in First Quarter, Comptroller Reveals Blessing Ibunge in Port Harcourt

informed the court that the preservation order had been published in the Punch Newspaper, in line with the court’s directive to advertise the same in one of the national dailies.

Oyedepo said: “We were directed to make a publication of the said order and we have complied with the order of the court.

“There is an affidavit to the order dated 22nd February, 2023, which was complied with on the 24th February, 2023.

“Sequel to that, we have received a notice of intention to oppose the making of the preservation order and we have equally responded.”

In opposing the application,

State Government, on November 29, 2022.

However, in a swift reaction, the EFCC urged Justice Oweibo to dismiss the application by Bello, seeking to vacate the forfeiture order in respect of 14 properties and the sum of N400 million.

The properties including, “Hotel Apartment Community, Burj Khalifa lying, being and situate at, Plot 160 Municipality NO 345-7562, Sky View Building No 1, Property No 401, Floor 4, Dubai U.A.E,” were reasonably suspected to have been derived from unlawful activity.

At the resumed sitting yesterday, the EFCC counsel, Rotimi Oyedepo,

realised is inspite of not having a vessels berth in Onne Port for some time due to the election atmosphere.

"We look forward to continuous rise in revenue generation in the coming months as we expect vessels to berth on our coastline within the next few weeks." He said 27 containers were confiscated for violations of various Customs laws and breach of procedures, adding that 24 of the seized containers were laden with refined vegetable oil comprising of 24,860 gallons.

He said the import duty paid was valued at N833,172,538.42 (based on false declaration and contravention of Schedule 3 Article 4 of C.E.T).

"This is made visible with the display of a total number of 27 containers which comprise 26 seized

containers and one detained container for violations or contravention of various Customs laws and breach of procedures as provided under the revised import prohibition guidelines (by trade) Schedule 3 Article 4 of the Common External Tariff 2022-2026, as well as Sections 46 paragraph (b), (d), (e), (f) and 169 Customs and Excise Management Act Cap C45 laws of the federation of Nigeria 2004 as amended.

"These seizures and detention were made based on infractions related to import guidelines, which include contraband goods, false declaration, end user certificate requirement from the office of the National Security Adviser, NAFDAC permit/licence among others in line with the Federal Government fiscal policies."

Commissioners of Police (ACPs) to Deputy Commissioners, 118 Chief Superintendents of Police (CSPs) to Assistant Commissioners, 316 Superintendents of Police to Chief Superintendents, eight Assistant Superintendents of Police to Deputy Superintendents and 61 Inspectors of Police to Assistant Superintendents 11.

The commission considered and approved the confirmation and promotion of 4,449 Assistant Superintendents of Police (ASP) 11 to the substantive rank of Assistant Superintendents of Police, ASP 1, while also approving the promotion of other senior police officers for outstanding performance and recognition from community leaders.

The Commissioners of Police promoted to the next rank of Assistant Inspectors General of Police (AIG) were Rabi Umar former CP Force Education; Mathew Akinyosola, acting AIG Police Mobile Force; Jonathan Towuru, acting AIG Zone 6, Calabar; Sylvester Abiodun Alabi, acting AIG Zone 2; Akande Sikiru Kayode, acting AIG Zone 11 Osogbo; Abimbola Adebola Shokoya; Christopher Adetokunbo Owolabi and Yusuf Chiromawa Usman, CP Workshop.

There were also Yekini Adio Ayoku, CP Kaduna state Command; Olofu Tony Adejoh CP Eastern Ports, Calabar; Aliyu Garba, Force Headquarters; Idris Dabban Dauda, CP Force Headquarters; Yusuf Ahmed Usman, CP Admin, operations, DIG Operations; Haladu Musa Ros-Amson, Acting AIG FCID, Alagbon close, Lagos; and Babatunde Babata Ishola, Director

Staff College Jos. Other were Alexander Nengi Wannang, Commandant Police Detective College Enugu; Ari Mohammed Ali, CP Delta; Mamman Sanda Umar, CP Nigerian Ports Authority, Lagos; Sadiq Idris Abubakar, CP FCT; Emeka Frank Mba; CP Ogun; Benjamin Nebolisa Okolo, CP Bayelsa Command; Oyediran Adesoye Oyeyemi, CP Ondo Command; Babaji Sunday, Commandant Police College Maiduguri and Arungwa Nwazue Udochukwu, CP DFA FIB, Force Headquarters.

The Deputy Commissioners of Police promoted to Commissioners included Mohammed Bunu; Zubairu Abubakar; Fom Pam Joseph; Emuobo Fred Ekokotu; Garba Musa Yusuf; Fasuba Akinyele Olabode; Uzuegbu Kanayo; Garba Ahmed; Nemi Edwin Osigoboko Iwo; Hayatu Kaigama Ali; Nwonyi Policarp Emeka; Salman Dogo Garba; Musibau Omolabi Ajani; Dungus Ali Munguno among others.

The statement said the commissioners of police and deputies appeared for an interactive/promotion interview, a condition for their consideration for promotion, noting that, the Acting Chairman of the commission, Justice Ogunbiyi, urged the newly promoted officers to rededicate themselves to the service of the nation.

She said the commission would continue to ensure that police promotions were regular and motivational to enhance the efficiency and effectiveness of the officers.

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CIVIL SOCIETY COALITION FOR TRANSPARENCY AND GOOD GOVERNANCE...

L-R: President, Nigerian Society of Intelligent, Japhat Ogbueri; Convener,. Civil Society Coalition for Transparency and Good Governance, Mr. Victor Udoh; Member of the Coalition, Joseph Maiwada and PHOTO: ENOCK REUBEN Coalition Member, Bala Mohammed, during the Civil Society world press conference calling on the NASS to stop creating new agencies in Abuja... yesterday

Lawmakers Approve Change of Lender for $17bn Railway Modernisation Amid Opposition Udora Orizu in Abuja The House of Representatives at plenary yesterday, approved the change of financier from China Exim Bank to China Development Bank for the Nigerian Railway ModerniSation Project (Kaduna– Kano segment), despite opposition.

The Senate and House of Representatives had on March 5, 2020 and June 2, 2020 respectively approved the $22.7 billion External Borrowing (Rolling) Plan.

The lawmakers also approved relevant conditions provided in the harmonised term sheet which included that the loan type would be commercial, it would have maturity of 15 years, interest rate

of 2.7 per cent, commitment fee of 0.4 per cent and upfront fee of 0.5 per cent.

The approvals followed the adoption of a motion moved by the Chairman Rules and Business, Hon. Hassan Fulata (APC, Jigawa) for the modification of the $22.7 billion 2016–2018 Federal Government External Borrowing (Rolling) Plan.

Moving the motion, Fulata disclosed that China Development Bank had been approved as the financier to fund the project with $17 billion following the withdrawal of China Exim Bank due to the impact of COVID-19.

He said the House was aware of the Communications from the Federal Ministry of Finance request-

ing approval of modifications to the financing proposal.

Fulata said, "Recalls that the National Assembly approved the sum of $22,798,446,773 under the 2016–2018 Medium Term External Borrowing (Rolling) plan. Aware of the Communications from the Federal Ministry of Finance requesting approval of modifications to the financing proposal for the Nigerian Railway Modernisation Project (Kaduna–Kano segment) occasioned by the COVID–19 Pandemic whereof China Exim Bank withdrew its support to finance the project.

"Also aware that to secure funds for the project, the Contractor (CCECC Nigeria Limited) in

collaboration with the Federal Ministry of Transportation engaged China Development Bank (CDB) as the new financier in the sum of $973,474,971.38 only."

But, Hon. Ossai Nicholas Ossai (PDP, Delta) opposed the motion, saying that the lawmakers should be given copies of the new agreement before the loan would be approved.

Ossai said, "We are changing from China Exim Bank to China Development bank that means addition of another agreement. If we are going to pass that resolution, that means the members of this house won't see that agreement.

“The Minister of Finance should come with the agreement agreed

IN MEDICINE AFTER POLITICAL DEATH, AYU STEPS ASIDE, DAMAGUM TAKES OVER He further said it was the Ayu-led NWC that caused the crisis by suspending former Senate president, Pius Anyim, former governor of Katsina, Ibrahim Shema and former governor Ayo Fayose.

On whether, he would leave Nigeria as he stated or attend the inauguration of Tinubu as president-elect, George said, "I won't leave town because the game is not over. If the court affirms Tinubu as president-elect, I won't attend his inauguration, he isn't my party's candidate. I intend to quit partisan politics, relocate to a peaceful town soon."

Nnamani, on his part, has asked Ayu to vacate his office, saying his leadership has brought misfortune to the PDP because of his ineptitude, greed and wickedness.

“Ayu is just an unmitigated disaster. His leadership is an evil that befell the PDP. The only option left is to show him the exit door.

How can Ayu be relying on the PDP constitution section 57 (7) to seek refuge when he had flagrantly subverted the same section to sack key stakeholders of the party including me?”

According to him, Section 57(7) of the PDP constitution stipulates that, “Notwithstanding any other provision relating to discipline, no executive committee at any level, except the National Executive Committee (NEC), shall entertain any question of discipline as may relate or concern a member of the National Executive Committee, Deputy Governors or members of the National Assembly.”

He recalled that the Ayu-led

NWC relied on the aforementioned section to expel him when it obviously lacked the power to do so, pointing out that Ayu’s case was akin to the evil that men do lives with them.

“Ayu lacks the moral right to stay a day longer in office as National Chairman. If he still has any modicum of honour, he should quit immediately. Look at the shame he has brought on the PDP. Look at the array of key stakeholders Ayu has sacked or forced to leave the party. Except Ayu is a man without shame or honour, he has no business remaining in office,” he said.

Aniagwu: Ayu’s Suspension Illegal, Wike, Ortom Behind Action

Spokesman of the PDP Presidential Campaign Council, Mr Charles Aniagwu, has describedAyu’s suspension as illegal and not in conformity with the party’s constitution.

Speaking on "Kakaaki" on AIT, yesterday, Aniagwu said those who attempted to suspend the National Chairman in Benue State were ignorant of the provisions of the party’s constitution as amended in 2017.

He accused Wike and his Benue State counterpart, Samuel Ortom of being behind the suspension in what he claimed looked like the Adams Oshiomhole kind of treatment.

He argued that the APC constitution was different from that of the PDP, adding that no organ of the

party aside the NEC could suspend a member of National Working Committee.

According to him, Section 57(7) of the PDP Constitution was very clear on who has the power to suspend or discipline a member of the National Working Committee or National Executive Committee of the party.

"When they proceeded to ask the Ward of the National Chairman to take disciplinary action against him assuming that they have the power they ought to have given him fair hearing by summoning him to give him the opportunity to defend himself but the Section 57 didn't give them the power to carry out such action against a member of NWC. "So if anyone is proceeding to court with such illegal suspension is just making unnecessary troubles for the party," he said, adding the exparte order from the court restraining Ayu from carrying out his duties as National Chairman was most unfortunate as the basis for granting the said order was faulty.

Ihedioha Withdraws from Imo Governorship Race

A former deputy speaker of the House of Representatives, Emeka Ihedioha, has written to the party to announce his withdrawal from the governorship election, stating that he was withdrawing to allow for a consensus candidate to emerge In the letter personally signed, Ihedioha said, "having turned 58 years last Friday, March 24, I had cause to reflect on many things,

including the state of the Peoples Democratic Party (PDP) "Having been a member since formation in 1998, I align myself with the request made at our state chapter the the National Working Committee (MWC) for a consensus choice of candidate regarding the 2023 governorship primaries. In the interest of harmony and unity of the Party, I have elected to make the personal sacrifice of withdrawing from further participation in the processes leading to the emergence of the gubernatorial candidate.

"This decision was not taken lightly. My commitment to the service of our people has never been in doubt. And I am sure many of those who have, on their own, aiready started mobilising for me in Imo State will be disappointed. I sincerely seek their understanding and that of secret admirers and particularly, the electorate, who have over the years aligned themselves and identified with my political aspirations. "I am profoundly grateful for the opportunity to have served my various constituencies both as a legislator and governor. I am also proud of the positive impact I made, particularly, in the seven months I served as the Governor of Imo State," Ihedioha said in the letter to the NWC of PDP. With his withdrawal from the governorship race, the National Secretary, Senator Samuel Anyanwu, may however emerge the consensus governorship candidate as only him and Ihedioha obtained the gubernatorial form and were recently screened.

with the Development Bank of China so that members can be guided when approving such a loan."

Reacting, the Speaker Hon. Femi Gbajabiamila asked him if he could talk to the Chairman, Aides and Loans about that Responding, Ossai said he has

done that and as well written to Ministry of Finance.

Ruling, Gbajabiamila after putting the motion to a voice vote and it was passed, directed the Chairmen of Aides and Loans and Land Transport to see him in his office after plenary to address the concern raised by Ossai.

NCDMB, FIRS Mull Tax Incentives for Firms Investing in Research, Devt Blessing Ibunge in Port Harcourt The Nigerian Content Development Monitoring Board (NCDMB) and the Federal Inland Revenue Service (FIRS) have resolved to collaborate in creating a platform aimed at providing tax incentives for oil and gas industry stakeholders investing in research and development.

This was disclosed yesterday, at the 2023 Tax awareness workshop for Nigerian oil and gas industry suppliers, held in Yenagoa, Bayelsa state.

In his welcome address, Executive Secretary, NCDMB, Mr. Sim Wabote, said the workshop was in tandem with Section 70 of the Nigerian Oil and Gas Industry Content Development Act 2010 in achieving the goal of developing local content in the Nigerian oil and gas industry.

Wabote also explained that the workshop was based on provisions of the Finance Act 2021 and other extant tax codes relating to Research and Development.

In terms of strategic intent, the NCDMB boss revealed that the workshop would highlight the inherent benefits of investing in research and development, and showcase mutual benefits to both the private sector and the government separately and collectively.

According to Wabote "The Board is leveraging the Enabling Business Environment pillar of its 10-year Strategic Roadmap, to collaborate with the Federal Inland Revenue Service (FIRS) in creating a platform for engaging Oil and Gas industry stakeholders on tax incentives available to companies that invest in Research and Development.

"Globally, there is a consensus on the adoption of the Triple Helix model to foster partnership between the academia, industry,

and Government to foster marketdriven research which advances the socio-economic development of nations.

"Indeed, the level of technological advancement in most developed economies is a result of a combination of Government providing the enabling environment and the private sector providing the funds needed for Research and Development.

"In Nigeria, we have also commenced our journey of creating meaning of addressing our peculiar challenges by leveraging on our natural endowments.

"The Federal Inland Revenue Service, through this workshop, will do a deep dive and provide critical insights into the incentives inherent in the Finance Act 2021 and how companies that invest in Research and Development can benefit from tax credit."

Wabote further noted the need for the two government agencies to forge a strong collaboration to drive government’s aspiration to develop local technology with consequential impact on increasing Government revenue from tax.

In his remarks, the Executive Chairman, FIRS, Mr. Muhammad Nami, stressed that the growth of the Nigerian oil and gas industry was very crucial to the economic development of Nigeria, being a single sector that contributes the largest income to the Nigerian economy.

Nami said: "By investing in Research and Development, the industry can improve exploration and production, reduce environmental impact, develop local content, and improve safety and security. This can help the industry remain competitive and contribute to the country's economic development.”

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MAKINDE’S APPRECIATION DINNER…

L-R: Governor of Oyo State, Seyi Makinde; playwright and public relations consultant, Mr. Olutayo Irantiola, and member-elect, Federal House of Representatives, Hon. Najimdeen Oyeshina Oyedeji, at the Governor Seyi Makinde Volunteer Appreciation Dinner, where The Okeho Exodus, a historical play, was presented to the governor by Irantiola in Ibadan… recently

Minister: NYSC’s New Welfare Package to Gulp N14bn Annually Oghenevwede Ohwovoriole in Abuja

The new and improved welfare package of the National Youth Service Corps (NYSC) will cost the federal government N14 billion annually when approved by President Muhammadu Buhari.

The Minister of Youths and Sports Development, Mr. Sunday Dare, disclosed this at the 2023 NYSC Annual Management

Conference (AMC), in Abuja yesterday.

Dare said that the improved allowances for corps members will almost double the current monthly N33,000.

With other improved welfare allowances for staff and corps members’ uniforms, the government will spend N14 billion annually on the scheme, he disclosed.

He said: “The final document

One Dead, Seven Injured as Fire Razes 580 Shops in Lagos Rebecca Ejifoma One body was recovered and seven others were injured in the five-storey building fire outbreak at the Balogun market in Lagos Island yesterday, destroying goods and properties worth millions of naira.

The building, which is at 32 Gbajumo Street, houses 580 shops and impact of the fire has crumbled its walls.

Confirming the report, the Director of Lagos State Fire and Rescue Service, Adeseye Margaret, said the fire was under control.

According to the Lagos Territorial Coordinator of the National Emergency Management Agency

(NEMA), Ibrahim Farinloye, the penthouse of the affected building has shown signs of collapse.

“The penthouse used as a store on the 5th and 4th floors has shown signs of falling due to the heat.”

Although the Lagos State Fire and Rescue Service has quelled the flames from spreading, the fire is said to have affected the fifth and fourth floors.

Other emergency responders are the Federal, State, and Lasema Response Unit, as dampening of the building was ongoing.

Following the fire outbreak, four persons were arrested for allegedly looting wares at the scene of the incident.

and the final approval have been waiting for us to increase and improve the quality of the uniforms of our corps members by increasing the amount of money almost double, to increase the bicycle allowance, their feeding allowance, compensation to the staff.

well as FIO Business Development Team and Executive Secretary of Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), Ophi has also been keynote speaker at various blockchain and crypto currency events across the world.

“As chief judge of the ACGAwards 2023, Ophi will be responsible for overseeing the selection and judging process for the award categories and will work closely with the organisers of the ACGAwards to ensure that the adjudication process remains fair, transparent and impartial,” it added.

Responding to his appointment, Ophi expressed his delight at being part of the ACGAwards, saying: “I am honoured to be appointed as chief judge of the ACGAwards Academy of Judges for the 2023 edition. This is a great opportunity for me to contribute to the growth and development of the African blockchain and Crypto currency industry.”

He underscored the need for those entrusted with responsibilities not to neglect the youths.

“We also need internal reforms because we deal with a very sensitive population. Since the EndSARS happened, no segment of this country can ever or should ever

ignore the youths of our country.

“The youths of this country deserve investment in skills but also those of us entrusted with taking care of them must be sensitive to their needs and also to the issues that are affecting them today,” he added.

Afenifere: Iwuanyanwu Didn’t Call Yoruba Political Rascals Fidelis David in Akure

The Pan Yoruba Socio-cultural organisation, Afenifere yesterday dissociated itself from report that it berated the Chairman, Council of Elders of the Igbo apex sociocultural group, Ohanaeze Ndigbo, Chief Emmanuel Iwuanyanwu, for allegedly calling the Yoruba people as “political rascals”.

It was reported that

Iwuanyanwu had while speaking in Awka, Anambra State capital on Saturday at the event to mark the one year in office of Anambra State Governor, Prof. Charles Soludo, condemned individuals fuelling ethnic baiting in Lagos State.

However, in a Commuinique issued after its monthly General Meeting held at the country home of its leader, Chief Ayo Adebanjo, at Isanya Ogbo, Ogun State,

Afenifere said Iwuanyanwu’s speech at the occasion was twisted out of context.

The Commuinique made available to journalists in Akure by the Secretary General of Afenifere, Sola Ebiseni reads: Afenifere received a message credited to Chief Emmanuel Iwunayanwun in a viral video alleging indictment of the Yoruba as political rascals on account

of ethnic violence deployed by politicians of the ruling party in Lagos State. On the analysis of the video and information at the disposal of Afenifere by people at the Anambra State gathering, we are convinced that Chief Iwunayanwun rightly asserted that the Yoruba and Igbo were not at war and truly condemned the shenanigans of some political rascals.

Uzor Kalu: It Took God’s Intervention for APC to Overcome Internal Crises

Deji Elumoye inAbuja

Senate Chief Whip, Senator Orji Uzor Kalu, has disclosed that the ruling All Progressives Congress (APC) was on the verge of collapse due to mounting internal crisis in the past before being saved by God. Kalu, who made this known to newsmen yesterday after meeting with President Muhammadu Buhari at the State House, Abuja,

also canvassed the need for the party to revive the Board of Trustees (BoT) mechanism to forestall such threat to its cohesion in the future, adding that he had already impressed it on the President Buhari to accept to fill the role of the body’s chairmanship position.

The former two-time Governor of Abia State further stated that he used the opportunity of the meeting with President Buhari to

officially inform him of his intention to contest the Presidency of the 10th Senate, if the office is zoned to the Southeast region by the APC. He noted that the ruling party was faced with serious crises ahead of the just concluded general elections, adding that Buhari’s interventions saved the APC from going under.

His words: “There’s one thing I suggested to the President that I

did not tell you people. I suggested to the President I said we cannot allow you to rest. I’m going to be consulting the party.

“The party should bring back our Board of Trustees or something that looks like it, so that Mr. President will be Chairman of the Board of Trustees of the party so that every four or five months, he will come and see how the party is doing.

One Killed, Many Declared Missing as Suspected Herdsmen Attack Edo Community Adibe Emenyonu in Benin City

popular driver and Ophi Named Chief Judge of Abusinessman, Mr. Omen Osesa has been reportedly killed Africa Crypto Giants Awards while many were injured as A renowned Crypto preacher, Mr. Alvin Rume Ophi, has been appointed as Chief Judge of the Africa Crypto Giants Awards (ACGAwards) 2023.

In a statement, the organisers said the ACGAwards is a yearly event created to recognise and celebrate the outstanding achievements and contributions of individuals and organisations in the African Crypto currency and blockchain industry.

The statement said the event is scheduled for October 28, 2023 in Lagos.

According to the statement, “Ophi, a Nigerian tech/crypto entrepreneur and expert in the block chain and crypto currency space, is the Founder of the Cryptopreacher Blockchain Academy, a platform that provides education and insights into the world of blockchain and Crypto currency.”

“Being a crypto market analyst and founder of ThinkCrypto, as

“All of that has been done and has gone to the relevant ministry and finance and I am sure that as it makes its way to the presidency, it will get a positive response that will see an injection of N14 billion into the corps and sub welfare for the NYSC.

suspected herdsmen invaded Sobe community in Owan Local Government Area of Edo State.

The herdsmen were said to have invaded the home of Osesa, Monday evening and opened fire on him and everyone in sight.

According to witnesses in the area, the assailants were said to have also left resident of the victim and moved closer

to St. Thomas Moore Primary School in the community where they kidnapped some persons.

This is not the first time the dreaded herdsmen would invade Sobe community.

Between December and February, four persons

including a pastor were said to have been killed in their farm by herdsmen.

Speaking, a resident of Sobe, Ogbeta Joseph Prince, who decries the incessant killings in the area, said people were getting disenchanted with the security situation in Sobe.

Royal Fathers Insist Aggrieved Candidates Have Right to Seek Redress in Court Emmanuel Ugwu-Nwogo in Umuhia

The traditional rulers in Umuahia North Local Government have said that any governorship candidate with good reason to challenge the outcome of the March 18 governorship election in Abia should not be vilified or denied such right.

Chairman of Supreme Council of Ikwuano/Umuahia Supreme Council of Traditional Rulers, HRM Eze Nnamdi Ofoegbu made this known yesterday while reacting to “a malicious” social media post concocted with his name and photograph.

The post said that the royal fathers had issued a “royal ultimatum to Abia APC

governorship candidate” to jettison his alleged intention to challenge the outcome of the 2023 governorship poll in court.

But Eze Ofoegbu raised the alarm and disgust that somebody could cook up such falsehood and used his name and photograph in a bid to give undue credibility to his cocktail of lies and fabrications.

He said: “We did not hold any

emergency meeting to discuss about any governorship candidate and I did not speak with any journalist on giving ultimatum to High Chief Ikechi Emenike.

“If Emenike or any person wants to go to court over the result of the governorship election it is a constitutional right of anybody with grievances to go to court for redress.”

Election Observer Groups Ask INEC to Review Kaduna Guber Polls Sunday Aborisade in Abuja governorship election results in Abuja yesterday. results were not tallying with The coalition of the Independent National Electoral Commission (INEC) Accredited Observer Groups for Credible Election has urged the commission to review the

declared for Kaduna State.

The National Coordinator of Centre For Strategy Ethics and Values, Romans Azubuike, made the appeal while speaking on behalf of the INEC accredited observers at a news conference

He said the INEC national headquarters should review the Kaduna State governorship election results. The observers noted that the election went well in Kaduna State but that at the point of collation, the

what was uploaded to the INEC IReV portal.

The Returning Officer of the Kaduna State governorship election, Prof Lawal Bilbis, had declared the APC candidate, Uba Sani, winner.

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Police Kill Terrorist, Recover AK-47 Rifle with Live Ammunition in Katsina Francis Sardauna in Katsina

Police operatives in Katsina State have successfully repelled terrorists’ attack along DanmusaYantunaki road in Danmusa Local Government Area of the state, killed one terrorist and recovered one AK-47 rifle with 22 rounds of live ammunition.

The state Police Public Relations Officer, SP Gambo Isah, who confirmed the development

in a statement yesterday said the hoodlums blocked the road on Monday afternoon with AK-47 rifles shooting sporadically.

He said the Divisional Police Officer in charge of Danmusa Division, led a team of policemen to the scene and engaged the hoodlums in a gun duel where they successfully repelled them. He said: “In the course of scanning the scene, one of the terrorists-bandits

Guber Poll: Group Accuses Diri of Plans to Destabilise Labour Party in Bayelsa Olusegun Samuel in Yenagoa

Ahead of the Bayelsa State’s gubernatorial primaries scheduled for next month, a group under the auspices of the Bayelsa Development Initiative (BDI), has raised the alarm over alleged desperate moves by the Bayelsa State Governor, Senator Douye Diri, to destabilise the Labour Party (LP) ahead of the state’s governorship election.

The group alleged that Diri was executing a similar plot in the All Progressives Congress (APC), and added that the governor was sponsoring a former loyalist of the Petroleum Minister for State, Mr. Timipre Sylva, to destabilise the party.

But in a reaction to the allegation, the state government through the Chief Press Secretary, Mr. Daniel Alabrah, said the allegation was baseless as the

group was only seeking attention.

BDI had in a statement signed by its Secretary, Mr. MichaelSam Rodamini, said that it is investigations that revealed that stopping the LP in the forthcoming poll had become a momentous topic in the drawing board of the governor and his team.

Samuel said to actualise their mission, the governor recently assembled a dedicated group to work on the anti-LP project and voted huge financial war chest to activate and actualise their plot against the LP. He said that one of the mandates of the governor’s anti-LP team was to frustrate the governorship ambition of a former President, Ijaw Youths Council (IYC) Worldwide, Mr. Udengs Eradiri, who had since purchased the LP’s governorship forms to challenge Diri at the poll.

was neutralised and his dead body recovered. Additionally, one AK 47 rifle with 22 rounds of 7.62mm live ammunition of AK 47 rifle was also recovered at the scene.”

Isah added that many of the terrorists were reasonably believed to have been neutralised or escaped the hitherto gun battle ground with gunshot wounds.

The superintendent of police noted that search parties were combing the nearest bushes with a view of arresting them or recovering the dead bodies of the marauding terrorists.

He therefore, admonished members of the communities around the area to report to the nearest police station any person found or seen with a suspected injury.

Senate Presidency: APC Chieftain Makes Case for South-south Adedayo Akinwale in Abuja The All Progressives Congress (APC) National Vice Chairman, North-west, Dr. Salihu Lukman, has said that the ruling party should compensate the South-south for giving more votes to the party compared to the South-east by zoning the position of Senate president to

the region.

Lukman in a statement issued yesterday titled, ‘APC and Tasks of Negotiating 10th National Assembly Leadership’, warned that unregulated contest for the leadership of the 10th National Assembly could produce another Muslim as Senate President.

The party chieftain recalled

that at the time of inaugurating the 8th National Assembly on June 9, 2015, the Chief John Odigie-Oyegun-led NWC was unable to regulate the conduct of elected party members in the National Assembly, notably Sen. Bukola Saraki and Hon. Yakubu Dogara who respectively emerged as Senate President and Speaker of the House of

Representatives.

Lukman noted that their emergence as leaders of the 8th National Assembly was in defiance against the preference of APC’s leadership for Sen. Ahmed Lawan and Hon. Femi Gbajabiamila for the position of Senate President and Speaker of the House of Representatives respectively.

Court Strikes out Charge against INEC Official, Lawyer, Obi Brown, Okojie SundayOkobi The Federal High Court in Benin-city, Edo State, has struck out the charge filed by the Economic and Financial Crimes Commission (EFCC) against an Administrative Secretary of the Independent National Electoral Commission (INEC), Delta State, Uluocha Obi Brown, and a legal

practitioner and former President, Rotary Club, Benin-city, Percy Okojie.

The defendants had earlier been arraigned for an alleged N111.5 million scam on May 11, 2017, before Justice P.I. Ajaku of the Federal High Court in Benin-city, Edo State on an eight-count amended charge filed by the EFCC, which they had pleaded not guilty to the charges.

However, the case was dismissed

by Justice S. M. Shuaibu of the Federal High Court sitting in Benin-city, who had become the presiding Judge following the transfer of Justice P.I. Ajaku.

Counsel to the defendants, ldemudia Osifo and P.E Ebuehi, prayed that the accused persons be discharged in line with the

provisions of Section 351 (1) of the Administration of Criminal Justice Act, 2015.

After hearing the applications of their counsel, the court led by Justice Shuaibu struck out the charge against Uluocha Obi Brown and Percy Okojie, and discharged them accordingly, thereby putting an end to the case.

Oyebanji Names Two-term Senator, Adetunmbi, Chief Economic Adviser Gbenga SodeindeinAdoEkiti Ekiti State Governor, Mr. Biodun Oyebanji, has approved the appointment of Senator Olubunmi Adetunmbi as the Chief Economic Adviser to the state government.

A statement signed by the

Special Adviser on Media to the Governor, Yinka Oyebode, said the appointment of the two-term senator, who represented Ekiti North senatorial district, took immediate effect.

According the statement, “Senator Adetunmbi, however,

will not draw any salary from the state government as he has voluntarily opted to serve the state free of charge.

“Born on August 22, 1955, Senator Adetunmbi holds a bachelor and master’s degrees in Agricultural Economics with

extensive work experience in project financing, financial management, marketing and international development consulting.

“He had stints with the Central Bank of Nigeria (CBN), Cadbury, USAID and DFID before his election as a senator in 2011.”

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ଂ

ଂ ଂ

7 R S 7 U D G H V E \ 9 R O X P H

7 R S * D LQ H U V

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P ric e C hg %

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11.40

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1.30

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61.5

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Value

GT C O

291.1

P ric e C hg % 0.0%

Z EN IT H B A N K

255.6

0.0%

M TNN

186.4

0.0%

N EST LE

166.0

0.0%

F ID ELIT YB K

139.0

0.0%

D A N GC EM

134.7

-4.2%

UC A P

11.60

-1.7%

C OR N ER ST

0.67

-1.5%

C UST OD IA N

121.8

0.0%

A IR T ELA F R I

114.4

0.0%

C A VER T ON

0.99

-1.0%

D A N GSUGA R

16.70

-0.6%

ST A N B IC

93.8

0.0%

T R A N SC OR P

85.3

4.5%

WEDNESDAY, ͺ΁˜ ͺ͸ͺͻ ˾ T H I S D AY

46

WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Guinea Sack Nigeria's Dream Team from Next Year's Olympic Games Duro Ikhazuagbe

For the second consecutive time, Nigeria will be missing from next year’s men’s football

event of the Olympic Games in Paris following the defeat of the country’s U23 Dream Team by Guinea yesterday.

After a dismal first leg goalless

draw in Abuja last Wednesday, the Guineans yesterday defeated Salisu Yusuf’s Dream Team 2-0 to book a place in the CAF U23 Nations Cup Tournament

Scotland Stun Spain in Bid to Qualify for Euro 2024 Chelsea’s Kovacic secure all three points for Croatia in Turkey Sensational Scotland took a seismic leap in their bid to reach consecutive European Championships by stunning Spain 2-0 in a heroic triumph.

Scott McTominay crashed in a deflected opener after just seven minutes, triggering an explosion of noise inside a charged Hampden Park.

Steve Clarke's team rode their luck to stay ahead at the break, only for McTominay to repeat his earlier feat just after the restart to cause chaos in the stands as well as in the bamboozled Spanish defence.

Scotland, in their first competitive victory over Spain for 39 years, now top Group A - three points above the humbled Spaniards and five in front of a stuttering Norway.

Elsewhere on the night, Turkey played their first home international fixture since two powerful earthquakes in the country claimed 50,000 lives.

A giant banner paying tribute to those affected was unveiled before kick-off in the Euro 2024 qualifier against Croatia in Istanbul.

Chelsea's Mateo Kovacic scored twice to secure the 2-0 win for

the visitors.

The midfielder struck from close range before firing in from a rebound on the stroke of half-time.

scheduled to hold later in May in Morocco.

Nigeria, Africa’s first winner of the men’s football gold at Atlanta ‘96 and winner of the silver and bronze medals at Beijing 2008 and Rio 2016 respectively, failed to go past the challenge posed by their fellow West Africans.

Signs of the Dream Team failing to reach the CAF U23 tournament were clearly on the wall following the manner of foreign-based players invited by the technical crew to the squad.

Instead of combing the globe for quality players, the Yusuf led coaching crew settled for half-baked players hardly better than those strutting their skills in the domestic league.

The fact that these players had ample time between the first leg and the reverse fixture yesterday to train and blend into a potent force, counts little by the poor quality of play offered by the Olympic Eagles in Morocco yesterday.

Both teams battled on the turf of the Prince Heritier Moulay Al Hassan for one hour, before Guinea took the lead, and then added a second goal 15 minutes later to the consternation of the Nigeria squad and their head coach Yusuf.

Defeat was a bitter pill to swallow, for a team that emerged champions of the Africa U23 Cup of Nations in Senegal in 2015 and reached the finals staged in Egypt four years ago.

RESULTS AFCON 2023 Eswatini Togo Namibia Malawi Tanzania Gambia Comoros Mauritania Botswana Libya Liberia Mo’bique

0-1 C’Verde 1-1 B’Faso 2-1 Cameroon 0-4 Egypt 0-1 Uganda 1-0 Mali 0-2 Ivory Coast 0-1 DR Congo 2-3 E’Guinea 0-1 Tunisia 1-2 S’Africa 0-1 Senegal

EURO 2024 Georgia Scotland Turkiye Wales

1-1 Norway 2-0 Spain 0-2 Croatia 1-0 Latvia

Golf: Torgah Claims Custodian Cheque After ‘Sudden-death’ on PGD Tour Ghana’s Vincent Torgah on Saturday emerged the winner of the Custodian Golf Classic. The tournament was decided by three holes play-off and one ‘Suddendeath’ for Torgah to pocket the star prize of N1.5 million at the 54 holes event which was concluded at the Golf Section of Ikoyi Club 1938 in Lagos.

After a joint lead in the first two rounds, Torgah ended the final round with a three-way tie with Gift Willy of Python Golf Club and Sunday Olapade of Ikoyi Club before the four-hole decider that rounded off the Classic.

Group Managing Director of Custodian Investments PLC, the sponsoring company, Wole Oshin, said he was highly impressed with the display of sportsmanship by the players and pledged to further support the development of golf through the PGD Tour in the country.

“The level of sportsmanship shown at this event is commendable, especially in this last round. I saw the skills on display, especially in the few holes I walked with them. This is one of the reasons we are partnering to promote professional golf through the

PGD Tour,” he concluded with excitement.

Torgah shot 70, 72, and 73 to finish with 215, two over par to edge Willy and Olapde to the runner-up place after the play-off.

Mohammed Kabir-Haruna from Kano Golf Club placed fourth with 70, 76, and 71 scores on the three-day golf. He totaled 215, +4 for the event, two shots off the leading pack.

PGD Tour Tournament Chief, Femi Olagbenro, said that the Custodian event was an improvement on the Tour opening event, the Meristem Open in January and promised more improvement on the Tour.

“We will keep pushing the boundaries and we are delighted to do so because that is the only way to pursue the growth and professional golf development that we are out to achieve.

Nigeria and Africa have a lot of golf talents and the PGD Tour is a platform set up to help golfers express themselves,” he added.

Former Nigeria number one player, Oche Odoh, also praised the consistency of the Tour, stressing that it has brought hope to the future of professional golf in Nigeria and its environs.

Group Managing Director of Custodian Investments Plc, Wole Oshin (left), presenting the winner’s cheque to Vincent Organ, champion of the Custodian Golf Classic... at the weekend

Scott McTominay (right) scored Scotland’s brace against Spain to rekindle hope of qualifying for the Euro 2024 Championships...yesterday

IMC Reveals N100m as Prize Money for NPFL Champions GTI Assets Management & Trust Ltd excited by partnership to grow the league The Interim Management Committee (IMC) revealed yesterday that the winner of the abridged Nigeria Premier League will pocket a princely N100 million.

Speaking at a Media Parley organised by its strategic partners, GTI Assets Management & Trust Limited, Chairman of the IMC, Hon. Gbenga Elegbeleye, revealed plans in the works for the NPFL champion to emerge at the end of the Super 6 Playoffs to cap the season.

The IMC Chief promised that his committee will continue to monitor every game from their situation room and make efforts to have more league matches on more television platforms.

“At the end of this league season the winner will take home N100 million. There are plans also to increase the number of games

on TV and we hope to be on additional TV stations very soon,” observed the former DG of the National Sports Commission.

Project Director of GTI Assets Management & Trust Limited, Nelson Ine, in his presentation, explained that the partnership his firm entered into with the IMC a few months ago was already producing positive results.

Ine insisted that the projection is to build the business element from football that will be beneficial to all, as well as serve as a national asset that can have the capacity to generate revenue and contribute to Nigeria’s GDP as it is done in other climes. ”Our partnership with the IMC is a strategic one borne out of the need to reposition the country’s football. We intend to develop the business element of football that

can have the capacity to generate revenue and become a national asset that is truly Nigerian and for Nigerians and does not belong to only a few individuals as is done in the English Premier League, Italian Serie A, Spanish La Liga, German Bundesliga and French League 1.

He expressed his excitement that since the partnership began, there have been improvement in the running of the League as referees’ indemnities have been paid as at when due which has enhanced good officiating, star matches now broadcast live on television stations on weekly basis while competitive balance amongst the football club sides have improved.

Ine stressed that his dream is that the league will get adequate publicity and get to a level where matches will be highly unpredict-

able and confidence restored to attract critical partners for development of the game.

The GTI director further stated that his expectation in the next five to 10 years is to see that there is massive increase in the renumeration of players/ officials, infrastructure development, increase in NPFL and club revenues as well as eradicating hooliganism and insecurity at match venues. lMC Head of Operations, Davidson Owumi, in his submission, admitted that the Super 6 playoffs to end the season will be played on a neutral venue. “No location for the Super 6 yet although a venue exists in our mind and that venue has no Premier League team.”

He appealed for the support of the country’s media to help project the laudable reforms that are taking place in the league.

WEDNESDAY MARCH 29, 2023 • T H I S D AY

47

Wednesday, March 29, 2023

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Price: N250

MISSILE Pro-Democracy Group to Election Critics “The call for an interim government is condemnable, unpatriotic and should be rejected by all men of goodwill. Political parties have contested elections and winners have emerged. And due process of law is being followed in resolving whatever dispute may have arisen from the elections”––A pro-democracy group, The Patriots in Defence of Democracy, condemning calls for an interim government in disputing the elections.

SAMAMADI GUEST COLUMNIST

Election without Democracy N igeria has completed the 2023 general elections. This is the most expensive election in Nigerian history. Official budgetary expenditure for the election of president, vice president, governors and deputy governors, and federal and state legislators is about N400billion.

Both the election management and the political party systems are broken. The result of this expensive junket will be plenty of election cases for the court to resolve.

The judicialization of politics has become a defining characteristic of Nigerian political system. After electorates cast their votes, we still hold our breath to determine who is elected. The courts have the final say.

Ordinarily, the courts never get to have a say. In Nigeria, the courts have a say in almost every election, saying the specter of judicialization of politics. Judicialization of politics is not acutest problem of Nigeria’s political governance.

The greatest challenge to democratization as a civic engagement in public leadership in Nigeria is the increasing criminalization of elections in Nigeria. Every election gets worse in Nigeria even as we spend more to make it better than the last. Since 1999, rigged elections have become a permanent feature of the Nigerian political landscape.

This is more than the fact that votes are wrongly counted. It is mostly that people don’t actually to get to vote. In the past politicians made a pretense of counting these votes. They allow the people the good feeling that they really matter by taking some pains to count their votes and later replace the result with the super votes of few men and women who write the real results. They prove true the saying attributed to Stalin that those who could the votes count more than those who cast the votes. Elections in Nigeria are a makebelief. And the make-belief has some ring of truth because, people truly vote. Only that those who count the votes count more than those who vote.

But on March 18, we saw an advancement in the technology of electoral make-belief.

This time, we moved from electoral irregularities to electoral criminality. 2023 saw the increased mainstreaming of technology into electoral management. The virtue of technology is that it reduces irregularities and ensures greater reliability and transparency of electoral processes. Yes, technology makes it difficult for those who count the votes to easily override those who do the voting. Bi-Modal Voter Identification System (BIVAS) and the electronic transmission of results reduce the distance between votes and what the counters of votes declare.

With that distance significantly narrowed, the only chance for criminal undertakers is to abrogate the right to vote for some, shut down technology and declare the will of ‘sovereigns’ as voting results. That was what desperate politicians and corrupt election managers did.

INEC Chairman Professor Mahmood Yakubu When you move from electoral irregularities to electoral criminalities, you have come to the end of election. No, that is not the end of election. It is rather the transmutation of election. It is election without democracy.

We wrongly believe that elections are the essence of democracy. But democracy is more than elections. Elections are democratic if they meet key requirements. What are the substance and procedure of democracy?

There are two sanctified narratives of democracy. One narrative is based on the idealism of self-determination and the ideology of political equality. Democracy is the condition in which the people express that they are political equals by governing themselves through the laws they make for them. It is the state of political freedom.

This ideal of democracy resonates whenever people accept political equality and believe that no one should be constrained and enslaved by the will of others. This ideology has been incorporated in the fundamental law of nations such that democracy is a universal creed to the extent that those who deny political equality continue to call themselves by its hallowed name.

Now, this ideology of democracy is a work in progress. Many scholars and thoughtful people do not accept that any country, even leading liberal societies like the US and UK, have attained democracy as dreamed.

The leading scholar of democracy, Robert Dahl, argues that whereas democracy as an ideal is an aspiration which we never get to, democracy is also a set institutional representation that ought to be common experience. This brings us to the second narrative of democracy. In this realistic perspective of democracy, Dahl describes it as representation. It is a system which

makes it possible that the government is responsive to the people.

Free and fair elections are at the heart of the second narrative of democracy, which is often called representative democracy or electoral democracy. In this narrative what matters is that people periodically choose their representatives who take over government on their behalf. Joseph Schumpeter was right to describe democracy as a system of government that allows the people to choose their leaders and then disappear. The practice virtue of this realistic perspective is that it is an efficient conflict resolution mechanism. The most persistent and fundamental problem of a society is how to choose who exercises political authority. Elections provide an efficient way of solving that problem. When it is done well it offers legitimacy to the political authority.

Elections are also desirable because they enable us to effectively promote the common good. Popular democracy or Athenian democracy enables everyone to take turns to deliberate and make laws that govern the commonwealth. Like in Athens and some of our villages in acephalous societies like the Igbo every adult male represents himself in person at the Agora. The limitations of this open democracy mean that elections become necessary to delegate some to attend to the common good of all. Where elections are successful, they achieve the strategic value of ensuring that those delegated to attend to the common good are always responsive to the needs and interests of the people who delegate them. In economic development, this responsive to citizens’ interests and opinion is the magic of democracy. Democracy may be a driver of development because it provides the incentives for political leaders to invest in economic development rather than predation. The mechanism that ensures this is free and fair election.

This practice virtues of legitimacy and effectiveness are what makes elections important to democracy. Elections are the heart of democracy because they provide incentives for leaders to cater to the needs of the people and not serve their own interests. Where elections fail as a mechanism of compelling the responsiveness of political authority to the needs and views of the people, then elections are no longer democratic. If we accept the logic of democracy as political equality, it means that every citizen will have an “equal and effective opportunity to vote, and all votes must be counted as equal”. For this to happen, there must be democratic institutions to protect the right to vote and ensure equality of votes.

This is the irony. A country like Nigeria without democratic and fair institutions will not have free and fair elections. Conditions for free and fair elections include that there is ample political freedom for people to form divergent opinions on political questions; that people can freely express such opinions;

that people can organize themselves freely to express such views; and that they can trust state institutions not to repress them in the exercise of these political views. These broad human rights are underwritten by a state that is separate from the contending ideological and economic interests. If there are no neutral and professionally managed state institutions and if society has not evolved to the state of competitive balance of force through deep contestation, there can be no free and fair elections.

The 2023 election showed that Nigeria is not yet a democracy because its elections are neither free nor fair. Robert Dahl offers an important aspect of free and fair elections. As he argues, “To be free means that citizens can go to the polls without fear of reprisal; and if they are to be fair, then all votes must be counted as equal” (underline supplied). Considering the mass disenfranchisement of thee Igbo in Lagos during the March 18, 2023 election, can it be said that the elections were free and fair? Think about many people who did not go to the polling units across the states because of fear of harm. Think about how security agents aided politicians to scare away voters in many places. Think about how many results of votes were mutilated and obliterated because the outcomes did not favor the incumbents.

What is clear to an objective assessor of Nigerian ‘democracy’ is that we do not yet have a democracy, and our elections are not democratic elections. Our election cannot be competitive if the state has not evolved to the state of competitiveness where due to the organizing norm of state institutions, they are impossible to be hijacked by incumbents or other powerful networks to defeat electoral challengers.

Liberalization and competition are the two important features of a democratic election. If outsiders cannot successfully compete against ruling party or incumbents because state institutions aid incumbents, if incumbents and political hegemons control the means of violence and could deploy them during elections, then you cannot have democratic elections.

The moral of all these is that it is wiser to invest in building fair and free institutions that are not manipulable by incumbents and political heavyweights than to invest in the technology of free and fair election.

Technology that promises reliability and transparency will easily be shut down by unprofessional and captured electoral management body. Imagine what the 2023 elections would have been if had an electoral manager who was above board and not constrained either by mode of appointment or the organization culture to play rogue and security agencies that would protect ballot boxes from banditry, rather than escort the bandits to steal votes and elections. Imagine the difference. This is why you need democracy before you get to free and fair elections.

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